Document And Entity Information
Document And Entity Information - shares | 3 Months Ended | |
Mar. 31, 2019 | May 03, 2019 | |
Document and Entity Information [Abstract] | ||
Entity Registrant Name | SIMMONS FIRST NATIONAL CORP | |
Entity Central Index Key | 0000090498 | |
Trading Symbol | sfnc | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Large Accelerated Filer | |
Entity Current Reporting Status | Yes | |
Entity Common Stock, Shares Outstanding | 95,876,505 | |
Document Type | 10-Q | |
Document Period End Date | Mar. 31, 2019 | |
Document Fiscal Year Focus | 2019 | |
Document Fiscal Period Focus | Q1 | |
Amendment Flag | false | |
Entity Emerging Growth Company | false | |
Entity Small Business | false |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
ASSETS | ||
Cash and non-interest bearing balances due from banks | $ 151,112 | $ 171,792 |
Interest bearing balances due from banks and federal funds sold | 340,049 | 661,666 |
Cash and cash equivalents | 491,161 | 833,458 |
Interest bearing balances due from banks - time | 4,684 | 4,934 |
Investment securities: | ||
Held-to-maturity | 61,435 | 289,194 |
Available-for-sale securities | 2,240,111 | 2,151,752 |
Total investments | 2,301,546 | 2,440,946 |
Mortgage loans held for sale | 18,480 | 26,799 |
Loans: | ||
Legacy loans | 8,684,550 | 8,430,388 |
Allowance for loan losses | (59,243) | (56,599) |
Loans acquired, net of discount and allowance | 3,056,187 | 3,292,783 |
Net loans | 11,681,494 | 11,666,572 |
Premises and equipment | 333,740 | 295,060 |
Foreclosed assets and other real estate owned | 18,952 | 25,565 |
Interest receivable | 51,796 | 49,938 |
Bank owned life insurance | 192,736 | 193,170 |
Goodwill | 845,687 | 845,687 |
Other intangible assets | 88,694 | 91,334 |
Other assets | 62,669 | 69,874 |
Total assets | 16,091,639 | 16,543,337 |
Deposits: | ||
Non-interest bearing transaction accounts | 2,674,034 | 2,672,405 |
Interest bearing transaction accounts and savings deposits | 6,666,823 | 6,830,191 |
Time deposits | 2,648,674 | 2,896,156 |
Total deposits | 11,989,531 | 12,398,752 |
Federal funds purchased and securities sold under agreements to repurchase | 120,213 | 95,792 |
Other borrowings | 1,169,989 | 1,345,450 |
Subordinated debentures | 354,041 | 353,950 |
Accrued interest and other liabilities | 155,544 | 102,959 |
Total liabilities | 13,789,318 | 14,296,903 |
Stockholders’ equity: | ||
Common stock, Class A, $0.01 par value; 175,000,000 shares authorized at March 31, 2019 and December 31, 2018; 92,568,361 and 92,347,643 shares issued and outstanding at March 31, 2019 and December 31, 2018, respectively | 926 | 923 |
Surplus | 1,599,566 | 1,597,944 |
Undivided profits | 707,829 | 674,941 |
Accumulated other comprehensive loss | (6,000) | (27,374) |
Total stockholders’ equity | 2,302,321 | 2,246,434 |
Total liabilities and stockholders’ equity | $ 16,091,639 | $ 16,543,337 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - $ / shares | Mar. 31, 2019 | Dec. 31, 2018 |
Statement of Financial Position [Abstract] | ||
Common stock, Class A, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Common stock, Class A, shares authorized (in shares) | 175,000,000 | 175,000,000 |
Common stock, Class A, shares issued (in shares) | 92,568,361 | 92,347,643 |
Common stock, Class A, shares outstanding (in shares) | 92,568,361 | 92,347,643 |
Consolidated Statements of Inco
Consolidated Statements of Income - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
INTEREST INCOME | ||
Loans | $ 159,440 | $ 143,350 |
Interest bearing balances due from banks and federal funds sold | 2,154 | 1,009 |
Investment securities | 17,312 | 12,622 |
Mortgage loans held for sale | 210 | 158 |
TOTAL INTEREST INCOME | 179,116 | 157,139 |
INTEREST EXPENSE | ||
Deposits | 30,750 | 15,597 |
Federal funds purchased and securities sold under agreements to repurchase | 136 | 110 |
Other borrowings | 6,793 | 5,139 |
Subordinated notes and debentures | 4,411 | 1,327 |
TOTAL INTEREST EXPENSE | 42,090 | 22,173 |
NET INTEREST INCOME | 137,026 | 134,966 |
Provision for loan losses | 9,285 | 9,150 |
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES | 127,741 | 125,816 |
NON-INTEREST INCOME | ||
Investment banking income | 618 | 834 |
Bank owned life insurance income | 795 | 1,103 |
Gain on sale of securities, net | 2,740 | 6 |
Other income | 3,125 | 4,007 |
TOTAL NON-INTEREST INCOME | 33,761 | 37,535 |
NON-INTEREST EXPENSE | ||
Salaries and employee benefits | 56,367 | 56,357 |
Occupancy expense, net | 7,475 | 6,960 |
Furniture and equipment expense | 3,358 | 4,403 |
Other real estate and foreclosure expense | 637 | 1,020 |
Deposit insurance | 2,040 | 2,128 |
Merger related costs | 1,470 | 1,711 |
Other operating expenses | 30,062 | 25,494 |
TOTAL NON-INTEREST EXPENSE | 101,409 | 98,073 |
INCOME BEFORE INCOME TAXES | 60,093 | 65,278 |
Provision for income taxes | 12,398 | 13,966 |
NET INCOME | $ 47,695 | $ 51,312 |
BASIC EARNINGS PER SHARE (in dollars per share) | $ 0.52 | $ 0.56 |
DILUTED EARNINGS PER SHARE (in dollars per share) | $ 0.51 | $ 0.55 |
Trust income | ||
NON-INTEREST INCOME | ||
Non-interest income | $ 5,708 | $ 5,249 |
Service charges on deposit accounts | ||
NON-INTEREST INCOME | ||
Non-interest income | 10,068 | 10,345 |
Other service charges and fees | ||
NON-INTEREST INCOME | ||
Non-interest income | 1,289 | 2,750 |
Mortgage lending income | ||
NON-INTEREST INCOME | ||
Non-interest income | 2,823 | 3,472 |
SBA lending income | ||
NON-INTEREST INCOME | ||
Non-interest income | 497 | 973 |
Debit and credit card fees | ||
NON-INTEREST INCOME | ||
Non-interest income | $ 6,098 | $ 8,796 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Statement of Comprehensive Income [Abstract] | ||
NET INCOME | $ 47,695 | $ 51,312 |
OTHER COMPREHENSIVE INCOME (LOSS) | ||
Unrealized holding gains (losses) arising during the period on available-for-sale securities | 29,130 | (22,735) |
Unrealized gain on AFS securities | 2,547 | |
Less: Reclassification adjustment for realized gains included in net income | 2,740 | 6 |
Other comprehensive gain (loss), before tax effect | 28,937 | (22,741) |
Less: Tax effect of other comprehensive income (loss) | 7,563 | (5,943) |
TOTAL OTHER COMPREHENSIVE INCOME (LOSS) | 21,374 | (16,798) |
COMPREHENSIVE INCOME | $ 69,069 | $ 34,514 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
OPERATING ACTIVITIES | ||
Net income | $ 47,695 | $ 51,312 |
Adjustments to reconcile net income to net cash (used in) provided by operating activities: | ||
Depreciation and amortization | 7,451 | 6,677 |
Provision for loan losses | 9,285 | 9,150 |
Gain on sale of investments | (2,740) | (6) |
Net accretion of investment securities and assets | (9,559) | (14,368) |
Net amortization (accretion) on borrowings | 91 | (211) |
Stock-based compensation expense | 3,084 | 2,585 |
(Gain) loss on sale of foreclosed assets held for sale | (32) | 41 |
Gain on sale of mortgage loans held for sale | (3,342) | (2,610) |
Deferred income taxes | 2,081 | 3,921 |
Income from bank owned life insurance | (876) | (1,103) |
Originations of mortgage loans held for sale | (98,255) | (113,012) |
Proceeds from sale of mortgage loans held for sale | 109,916 | 121,952 |
Changes in assets and liabilities: | ||
Interest receivable | (1,858) | 1,582 |
Lease right-of-use assets | 2,294 | |
Other assets | 3,730 | (5,648) |
Accrued interest and other liabilities | 30,805 | 33,983 |
Income taxes payable | (10,977) | (13,955) |
Net cash provided by operating activities | 88,793 | 80,290 |
INVESTING ACTIVITIES | ||
Net originations of loans | (18,116) | (140,804) |
Decrease in due from banks - time | 250 | 245 |
Purchases of premises and equipment, net | (13,027) | (6,052) |
Proceeds from sale of foreclosed assets held for sale | 7,214 | 4,359 |
Proceeds from sale of available-for-sale securities | 209,968 | 7,726 |
Proceeds from maturities of available-for-sale securities | 55,804 | 58,548 |
Purchases of available-for-sale securities | (110,767) | (320,798) |
Proceeds from maturities of held-to-maturity securities | 11,408 | 15,512 |
Proceeds from bank owned life insurance death benefits | 1,310 | 616 |
Disposition of assets and liabilities held for sale | 1,393 | (75,586) |
Net cash provided by (used in) investing activities | 145,437 | (456,234) |
FINANCING ACTIVITIES | ||
Net change in deposits | (409,221) | 564,040 |
Proceeds from issuance of subordinated notes | 0 | 326,711 |
Dividends paid on common stock | (14,807) | (14,081) |
Net change in other borrowed funds | (175,461) | (239,038) |
Net change in federal funds purchased and securities sold under agreements to repurchase | 24,421 | (1,535) |
Net shares issued under stock compensation plans | (2,771) | 443 |
Shares issued under employee stock purchase plan | 1,312 | 1,026 |
Net cash (used in) provided by financing activities | (576,527) | 637,566 |
(DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS | (342,297) | 261,622 |
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD | 833,458 | 598,042 |
CASH AND CASH EQUIVALENTS, END OF PERIOD | $ 491,161 | $ 859,664 |
Consolidated Statements of Stoc
Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands | Total | Common Stock | Surplus | Accumulated Other Comprehensive Income (Loss) | Undivided Profits |
Balance at Dec. 31, 2017 | $ 2,084,564 | $ 920 | $ 1,586,034 | $ (17,264) | $ 514,874 |
Comprehensive income | 34,514 | (16,798) | 51,312 | ||
Stock issued for employee stock purchase plan | 1,026 | 1,026 | |||
Stock-based compensation plans, net | 3,028 | 2 | 3,026 | ||
Dividends on common stock | (14,081) | (14,081) | |||
Balance at Mar. 31, 2018 | 2,109,051 | 922 | 1,590,086 | (34,062) | 552,105 |
Comprehensive income | 171,089 | 6,688 | 164,401 | ||
Stock-based compensation plans, net | 7,859 | 1 | 7,858 | ||
Dividends on common stock | (41,565) | (41,565) | |||
Balance at Dec. 31, 2018 | 2,246,434 | 923 | 1,597,944 | (27,374) | 674,941 |
Comprehensive income | 69,069 | 21,374 | 47,695 | ||
Stock issued for employee stock purchase plan | 1,312 | 1 | 1,311 | ||
Stock-based compensation plans, net | 313 | 2 | 311 | ||
Dividends on common stock | (14,807) | (14,807) | |||
Balance at Mar. 31, 2019 | $ 2,302,321 | $ 926 | $ 1,599,566 | $ (6,000) | $ 707,829 |
Consolidated Statements of St_2
Consolidated Statements of Stockholders' Equity (Parenthetical) - $ / shares | 3 Months Ended | 9 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | Dec. 31, 2018 | |
Statement of Stockholders' Equity [Abstract] | |||
Stock issued for employee stock purchase plan, shares (in shares) | 60,413 | 39,782 | |
Stock issued for compensation plans, shares (in shares) | 160,305 | 173,489 | 105,254 |
Cash dividends per share (in dollars per share) | $ 0.16 | $ 0.15 | $ 0.45 |
Preparation of Interim Financia
Preparation of Interim Financial Statements | 3 Months Ended |
Mar. 31, 2019 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Preparation of Interim Financial Statements | PREPARATION OF INTERIM FINANCIAL STATEMENTS Organizational Structure Simmons First National Corporation (the “Company”) is a publicly traded financial holding company that trades on the NASDAQ Market (“NASDAQ”) under the ticker symbol “SFNC” and the parent company of Simmons Bank, an Arkansas state-chartered bank that began as a community bank in 1903. Simmons Bank is the parent company of Simmons First Investment Group, Inc. (a registered broker-dealer), Simmons First Insurance Services, Inc. (an insurance agency), and Simmons First Insurance Services of TN, LLC (an insurance agency). Description of Business The Company is headquartered in Pine Bluff, Arkansas and conducts banking operations in communities throughout Arkansas, Colorado, Kansas, Missouri, Oklahoma, Tennessee and Texas. The Company, through its subsidiaries, offers consumer, real estate and commercial loans, checking, savings and time deposits from 191 financial centers conveniently located throughout its market areas. Additionally, the Company offers specialized products and services such as credit cards, trust and fiduciary services, investments, agricultural finance lending, equipment lending, insurance and small business administration (“SBA”) lending. Basis of Presentation The accompanying unaudited consolidated financial statements have been prepared based upon Securities and Exchange Commission (“SEC”) rules that permit reduced disclosures for interim periods. Certain information and footnote disclosures have been condensed or omitted in accordance with those rules and regulations. The accompanying consolidated balance sheet as of December 31, 2018 , was derived from audited financial statements. In the opinion of management, these financial statements reflect all adjustments that are necessary for a fair presentation of interim results of operations, including normal recurring accruals. Significant intercompany accounts and transactions have been eliminated in consolidation. The results for the interim periods are not necessarily indicative of results for the full year. For a more complete discussion of significant accounting policies and certain other information, this report should be read in conjunction with the consolidated financial statements and accompanying notes included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2018 , which was filed with the SEC on February 27, 2019 . The preparation of financial statements, in accordance with accounting principles generally accepted in the United States (“US GAAP”), requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, income items and expenses and disclosure of contingent assets and liabilities. The estimates and assumptions used in the accompanying consolidated financial statements are based upon management’s evaluation of the relevant facts and circumstances as of the date of the consolidated financial statements and actual results may differ from these estimates. Such estimates include, but are not limited to, the Company’s allowance for loan losses. Certain prior year amounts have been reclassified to conform to the current year financial statement presentation. These changes and reclassifications did not impact previously reported net income or comprehensive income. Recently Adopted Accounting Standards Cloud Computing Arrangements – In August 2018, the FASB issued ASU No. 2018-15, Intangibles-Goodwill and Other-Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That is a Service Contract (“ASU 2018-15”), that amends the definition of a hosting arrangement and requires a customer in a hosting arrangement that is a service contract to capitalize certain implementation costs as if the arrangement was an internal-use software project. The internal-use software guidance states that only qualifying costs incurred during the application development stage can be capitalized. The effective date is for fiscal years beginning after December 15, 2019, and interim periods within those fiscal years, with early adoption permitted. Entities have the option to apply the guidance prospectively to all implementation costs incurred after the date of adoption or retrospectively in accordance with the applicable guidance. At the time of adoption, entities will be required to disclose the nature of its hosting arrangements that are service contracts and provide disclosures as if the deferred implementation costs were a separate, major depreciable asset class. The Company early adopted ASU 2018-15 in the first quarter 2019 and elected to apply the guidance prospectively to all software implementation costs incurred after the date of adoption. As of March 31, 2019 , no applicable software implementation costs have been incurred. Derivatives and Hedging: Targeted Improvements - In August 2017, the FASB issued ASU No. 2017-12, Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities (“ASU 2017-12”), that changes both the designation and measurement guidance for qualifying hedging relationships and the presentation of hedge results in order to better align a company’s risk management activities and financial reporting for hedging relationships. In summary, this amendment 1) expands the types of transactions eligible for hedge accounting; 2) eliminates the separate measurement and presentation of hedge ineffectiveness; 3) simplifies the requirements around the assessment of hedge effectiveness; 4) provides companies more time to finalize hedge documentation; and 5) enhances presentation and disclosure requirements. The effective date is for fiscal years beginning after December 15, 2018, and interim periods within those fiscal years, with early adoption permitted. All transition requirements and elections should be applied to existing hedging relationships on the date of adoption and the effects should be reflected as of the beginning of the fiscal year of adoption. As part of this new guidance, entities are allowed to designate as the hedged item, an amount that is not expected to be affected by prepayments, defaults or other events affecting the timing and amount of cash flows in a closed portfolio of prepayable financial instruments (this is referred to as the “last-of-layer” method). Under the last-of-layer method, entities are able to reclassify, only at the time of adoption, eligible callable debt securities from held-to-maturity to available-for-sale without tainting its intentions to hold future debt securities to maturity. The available-for-sale security must be reported at fair value and any unrealized gain or loss must be recorded as an adjustment to other comprehensive income upon adoption. The Company evaluated its held-to-maturity portfolio during the first quarter 2019 and identified certain municipal bonds with a fair value of $216.4 million that met the last-of-layer criteria under ASU 2017-12 and as a result, reclassified those to available-for-sale and recorded an unrealized gain of $2.5 million during the first quarter 2019. Leases - In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842) (“ASU 2016-02”), that establishes the principles to report transparent and economically neutral information about the assets and liabilities that arise from leases. The new guidance results in a more consistent representation of the rights and obligations arising from leases by requiring lessees to recognize the lease asset and lease liabilities that arise from leases in the statement of financial position and to disclose qualitative and quantitative information about lease transactions, such as information about variable lease payments and options to renew and terminate leases. The effective date is for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. ASU 2016-02 requires entities to adopt the new lease standard using a modified retrospective transition method, meaning an entity initially applies the new lease standard at the beginning of the earliest period presented in the financial statements. Due to complexities associated with using this method, in July 2018, the FASB issued ASU No. 2018-11, Leases (Topic 842): Targeted Improvements , to relieve entities of the requirement to present prior comparative years’ results when they adopt the new lease standard and giving entities the option to recognize the cumulative effect of applying the new standard as an adjustment to the opening balance of retained earnings. Adoption of ASU 2016-02 resulted in the recognition of right-of-use assets of $32.8 million and right-of-use liabilities of $32.8 million on the statement of financial position with no material impact to the results of operations. The Company has elected to adopt the guidance using the optional transition method, which allows for a modified retrospective method of adoption with a cumulative effect adjustment to retained earnings without restating comparable periods. The Company also elected the relief package of practical expedients for which there is no requirement to reassess existence of leases, their classification, and initial direct costs as well as an exemption for short-term leases with a term of less than one year, whereby the Company did not recognize a lease liability or right-of-use asset on the statement of financial position but instead will recognize lease payments as an expense over the lease term as appropriate. See Note 6 for additional information related to the Company’s right-of-use lease obligations. Recently Issued Accounting Standards Fair Value Measurement Disclosures – In August 2018, the FASB issued ASU No. 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework-Changes to the Disclosure Requirements for Fair Value Measurement (“ASU 2018-13”), that eliminates, amends and adds disclosure requirements for fair value measurements. These amendments are part of FASB’s disclosure review project and they are expected to reduce costs for preparers while providing more decision-useful information for financial statement users. The eliminated disclosure requirements include the 1) the amount of, and reasons for, transfers between Level 1 and Level 2 of the fair value hierarchy; 2) the policy of timing of transfers between levels of the fair value hierarchy; and 3) the valuation processes for Level 3 fair value measurements. Among other modifications, the amended disclosure requirements remove the term “at a minimum” from the phrase “an entity shall disclose at a minimum” to promote the appropriate exercise of discretion by entities and clarifies that the measurement uncertainty disclosure is to communicate information about the uncertainty in measurement as of the reporting date. Under the new disclosure requirements, entities must disclose the changes in unrealized gains or losses included in other comprehensive income for recurring Level 3 fair value measurements held at the end of the reporting period and the range and weighted average used to develop significant unobservable inputs for Level 3 fair value measurements. ASU 2018-13 is effective for fiscal years beginning after December 15, 2019, and interim periods within those fiscal years, with early adoption permitted. The Company is currently evaluating the impact this standard will have on its fair value disclosures. Goodwill Impairment – In January 2017, the FASB issued ASU No. 2017-04, Intangibles – Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment (“ASU 2017-04”), that eliminates Step 2 from the goodwill impairment test which required entities to compare the implied fair value of goodwill to its carrying amount. Under the amendments, the goodwill impairment will be measured as the excess of the reporting unit’s carrying amount over its fair value. An impairment charge should be recognized for the amount by which the carrying amount exceeds the reporting unit’s fair value; however, the loss recognized should not exceed the total amount of goodwill allocated to that reporting unit. The effective date is for fiscal years beginning after December 15, 2019, with early adoption permitted for interim or annual impairment tests beginning in 2017. The Company will early adopt ASU 2017-04 during the second quarter 2019 to coincide with the Company’s formal impairment analysis and it is not expected to have a material effect on the Company’s results of operations, financial position or disclosures. Credit Losses on Financial Instruments – In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments (“ASU 2016-13”), which requires earlier measurement of credit losses, expands the range of information considered in determining expected credit losses and enhances disclosures. The main objective of ASU 2016-13 is to provide financial statement users with more decision-useful information about the expected credit losses on financial instruments and other commitments to extend credit held by a reporting entity at each reporting date. The amendments replace the incurred loss impairment methodology in current US GAAP with a methodology that reflects expected credit losses and requires consideration of a broader range of reasonable and supportable information to inform credit loss estimates. The effective date for these amendments is for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. The Company has formed a cross functional team that continues to assess its data and system needs and evaluate the potential impact of adopting the new guidance. The Company anticipates a significant change in the processes and procedures to calculate the loan losses, including changes in assumptions and estimates to consider expected credit losses over the life of the loan versus the current accounting practice that utilizes the incurred loss model. In December 2018, the Federal Reserve, Office of the Comptroller of the Currency and Federal Deposit Insurance Corporation issued a final rule revising regulatory capital rules in anticipation of the adoption of ASU 2016-13 that provides an option to phase in the day-one impact on earnings and tier one capital. Due to this final rule from the regulatory agencies, the Company is continuing to research and study options for recording a one-time adjustment or structuring any capital impact over an allowable period of time. The Company has not yet determined the magnitude of any such adjustment or the overall impact on its results of operations, financial position or disclosures. However, the Company is continuing its efforts in developing processes and procedures to ensure it is fully compliant at the required adoption date. Among other things, the Company continues to gather data and develop forecast models for asset quality, loan balances, and portfolio net charge-offs and is working with the selected model vendor to produce parallel calculations through the year leading up to implementation. Model inputs began in the fourth quarter 2018 with additional inputs and scenarios to be modeled throughout 2019 with focus on calculating a potential range of financial impact. There have been no other significant changes to the Company’s accounting policies from the 2018 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 its present or future financial position or results of operations. |
Subsequent Acquisition
Subsequent Acquisition | 3 Months Ended |
Mar. 31, 2019 | |
Business Combinations [Abstract] | |
Subsequent Acquisition | SUBSEQUENT ACQUISITION On April 12, 2019, the Company completed its merger with Reliance Bancshares, Inc. (“Reliance”) pursuant to the terms of the Agreement and Plan of Merger (“Reliance Agreement”), dated November 13, 2018, as amended February 11, 2019. The Company was the surviving corporation in the merger. The merger was described in the Company’s Registration Statement on Form S-4 filed with the SEC on January 25, 2019, and amended on February 12, 2019. As a result of the merger, the Company expanded its presence in the St. Louis banking market and now has approximately $17.6 billion in assets and approximately $12.9 billion and $13.1 billion in loans and deposits, respectively. In the merger, each outstanding share of Reliance common stock and common stock equivalents was canceled and converted into the right to receive shares of the Company’s common stock and/or cash in accordance with the terms of the Reliance Agreement. In addition, each share of Reliance’s Series A Preferred Stock and Series B Preferred Stock was converted into the right to receive one share of Simmons’ comparable Series A Preferred Stock or Series B Preferred Stock, respectively, and each share of Reliance’s Series C Preferred Stock was converted into the right to receive one share of Simmons’ comparable Series C Preferred Stock (unless the holder of such Series C Preferred Stock elected to receive alternate consideration in accordance with the Reliance Agreement). The Company is issuing 3,999,623 shares of its common stock and paid $62.7 million in cash to effect the merger. The merger was approved by stockholders of Reliance on April 8, 2019. Due to the timing of the merger and the amount of assets and liabilities assumed, the Company is continuing to determine their preliminary fair values and the purchase price allocation. The Company expects to finalize the analysis of the acquired assets and liabilities over the next few months and within one year of the merger. The Company will record the merger using the acquisition method of accounting and will recognize the assets acquired and liabilities assumed at their fair values as of the date of acquisition. The results of the merger will be included in the Company’s consolidated operating results beginning on the acquisition date. |
Investment Securities
Investment Securities | 3 Months Ended |
Mar. 31, 2019 | |
Investments, Debt and Equity Securities [Abstract] | |
Investment Securities | 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: March 31, 2019 December 31, 2018 (In thousands) Amortized Cost Gross Unrealized Gains Gross Unrealized (Losses) Estimated Fair Value Amortized Cost Gross Unrealized Gains Gross Unrealized (Losses) Estimated Fair Value Held-to-Maturity U.S. Government agencies $ 12,996 $ — $ (9 ) $ 12,987 $ 16,990 $ — $ (49 ) $ 16,941 Mortgage-backed securities 12,847 10 (240 ) 12,617 13,346 5 (412 ) 12,939 State and political subdivisions 33,597 751 (27 ) 34,321 256,863 3,029 (954 ) 258,938 Other securities 1,995 36 — 2,031 1,995 17 — 2,012 Total HTM $ 61,435 $ 797 $ (276 ) $ 61,956 $ 289,194 $ 3,051 $ (1,415 ) $ 290,830 Available-for-Sale U.S. Government agencies $ 163,730 $ 596 $ (2,749 ) $ 161,577 $ 157,523 $ 518 $ (3,740 ) $ 154,301 Mortgage-backed securities 1,362,950 2,569 (19,842 ) 1,345,677 1,552,487 3,097 (32,684 ) 1,522,900 State and political subdivisions 571,716 10,307 (1,233 ) 580,790 320,142 171 (5,470 ) 314,843 Other securities 151,707 437 (77 ) 152,067 157,471 2,251 (14 ) 159,708 Total AFS $ 2,250,103 $ 13,909 $ (23,901 ) $ 2,240,111 $ 2,187,623 $ 6,037 $ (41,908 ) $ 2,151,752 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 AFS securities in the table above. Certain investment securities are valued at less than their historical cost. Total fair value of these investments at March 31, 2019 and December 31, 2018 , was $1.4 billion and $1.7 billion , which is approximately 60.1% and 70.3% , respectively, of the Company’s combined AFS and HTM 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 March 31, 2019 : Less Than 12 Months 12 Months or More Total (In thousands) Estimated Fair Value Gross Unrealized Losses Estimated Fair Value Gross Unrealized Losses Estimated Fair Value Gross Unrealized Losses Held-to-Maturity U.S. Government agencies $ — $ — $ 12,987 $ (9 ) $ 12,987 $ (9 ) Mortgage-backed securities 487 (1 ) 9,994 (239 ) 10,481 (240 ) State and political subdivisions 80 (1 ) 4,881 (26 ) 4,961 (27 ) Total HTM $ 567 $ (2 ) $ 27,862 $ (274 ) $ 28,429 $ (276 ) Available-for-Sale U.S. Government agencies $ 5,583 $ (30 ) $ 124,129 $ (2,719 ) $ 129,712 $ (2,749 ) Mortgage-backed securities 40,444 (248 ) 1,086,169 (19,594 ) 1,126,613 (19,842 ) State and political subdivisions 1,016 (4 ) 92,894 (1,229 ) 93,910 (1,233 ) Other securities 5,029 (76 ) 100 (1 ) 5,129 (77 ) Total AFS $ 52,072 $ (358 ) $ 1,303,292 $ (23,543 ) $ 1,355,364 $ (23,901 ) These declines reflected in the preceding table 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 HTM and AFS 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 HTM until they mature, at which time the Company expects to receive full value for the securities. Furthermore, as of March 31, 2019 , management also had the ability and intent to hold the securities classified as AFS 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 March 31, 2019 , management believes the impairments detailed in the table above are temporary. Should the impairment of any of these securities become other than temporary, the cost basis of the investment will be reduced and the resulting loss recognized in net income in the period the other-than-temporary impairment is identified. Income earned on securities for the three months ended March 31, 2019 and 2018 , is as follows: (In thousands) 2019 2018 Taxable: Held-to-maturity $ 438 $ 567 Available-for-sale 12,551 9,032 Non-taxable: Held-to-maturity 1,162 1,936 Available-for-sale 3,161 1,087 Total $ 17,312 $ 12,622 The amortized cost and estimated fair value by maturity of securities are shown in the following table. Securities are classified according to their contractual maturities without consideration of principal amortization, potential prepayments or call options. Accordingly, actual maturities may differ from contractual maturities. Held-to-Maturity Available-for-Sale (In thousands) Amortized Cost Fair Value Amortized Cost Fair Value One year or less $ 18,407 $ 18,397 $ 7,375 $ 7,372 After one through five years 20,419 20,624 74,428 74,208 After five through ten years 5,564 5,691 123,088 124,101 After ten years 4,198 4,627 535,761 541,815 Securities not due on a single maturity date 12,847 12,617 1,362,950 1,345,677 Other securities (no maturity) — — 146,501 146,938 Total $ 61,435 $ 61,956 $ 2,250,103 $ 2,240,111 The carrying value, which approximates the fair value, of securities pledged as collateral, to secure public deposits and for other purposes, amounted to $1.06 billion at March 31, 2019 and $1.02 billion at December 31, 2018 . There were approximately $2.7 million of gross realized gains and no gross realized losses from the sale of securities during the three months ended March 31, 2019 . During the quarter, the Company made adjustments to the bond portfolio based upon projected cash flow changes due to the present low rate environment. There were approximately $6,000 of gross realized gains and no gross realized losses from the sale of securities during the three months ended March 31, 2018 . The state and political subdivision debt obligations are predominately non-rated bonds representing small issuances, primarily in Arkansas, Missouri, Oklahoma, Tennessee and Texas issues, which are evaluated on an ongoing basis. |
Loans and Allowance for Loan Lo
Loans and Allowance for Loan Losses | 3 Months Ended |
Mar. 31, 2019 | |
Receivables [Abstract] | |
Loans and Allowance for Loan Losses | LOANS AND ALLOWANCE FOR LOAN LOSSES At March 31, 2019 , the Company’s loan portfolio was $11.74 billion , compared to $11.72 billion at December 31, 2018 . The various categories of loans are summarized as follows: (In thousands) March 31, 2019 December 31, 2018 Consumer: Credit cards $ 181,549 $ 204,173 Other consumer 213,659 201,297 Total consumer 395,208 405,470 Real Estate: Construction 1,376,162 1,300,723 Single family residential 1,431,407 1,440,443 Other commercial 3,355,109 3,225,287 Total real estate 6,162,678 5,966,453 Commercial: Commercial 1,801,422 1,774,909 Agricultural 147,216 164,514 Total commercial 1,948,638 1,939,423 Other 178,026 119,042 Loans 8,684,550 8,430,388 Loans acquired, net of discount and allowance (1) 3,056,187 3,292,783 Total loans $ 11,740,737 $ 11,723,171 _____________________________ (1) See Note 5, Loans Acquired, for segregation of loans acquired by loan class. Loan Origination/Risk Management – The Company seeks to manage its credit risk by diversifying its loan portfolio, determining that borrowers have adequate sources of cash flow for loan repayment without liquidation of collateral; obtaining and monitoring collateral; providing an adequate allowance for loans losses by regularly reviewing loans through the internal loan review process. The loan portfolio is diversified by borrower, purpose and industry. The Company seeks to use diversification within the loan portfolio to reduce its credit risk, thereby minimizing the adverse impact on the portfolio, if weaknesses develop in either the economy or a particular segment of borrowers. Collateral requirements are based on credit assessments of borrowers and may be used to recover the debt in case of default. Furthermore, a factor that influenced the Company’s judgment regarding the allowance for loan losses consists of a nine-year historical loss average segregated by each primary loan sector. On an annual basis, historical loss rates are calculated for each sector. Consumer – The consumer loan portfolio consists of credit card loans and other consumer loans. Credit card loans are diversified by geographic region to reduce credit risk and minimize any adverse impact on the portfolio. Although they are regularly reviewed to facilitate the identification and monitoring of creditworthiness, credit card loans are unsecured loans, making them more susceptible to be impacted by economic downturns resulting in increasing unemployment. Other consumer loans include direct and indirect installment loans and overdrafts. Loans in this portfolio segment are sensitive to unemployment and other key consumer economic measures. Real estate – The real estate loan portfolio consists of construction loans, single family residential loans and commercial loans. Construction and development loans (“C&D”) and commercial real estate loans (“CRE”) can be particularly sensitive to valuation of real estate. Commercial real estate cycles are inevitable. The long planning and production process for new properties and rapid shifts in business conditions and employment create an inherent tension between supply and demand for commercial properties. While general economic trends often move individual markets in the same direction over time, the timing and magnitude of changes are determined by other forces unique to each market. CRE cycles tend to be local in nature and longer than other credit cycles. Factors influencing the CRE market are traditionally different from those affecting residential real estate markets; thereby making predictions for one market based on the other difficult. Additionally, submarkets within commercial real estate – such as office, industrial, apartment, retail and hotel – also experience different cycles, providing an opportunity to lower the overall risk through diversification across types of CRE loans. Management realizes that local demand and supply conditions will also mean that different geographic areas will experience cycles of different amplitude and length. The Company monitors these loans closely. Commercial – The commercial loan portfolio includes commercial and agricultural loans, representing loans to commercial customers and farmers for use in normal business or farming operations to finance working capital needs, equipment purchases or other expansion projects. Collection risk in this portfolio is driven by the creditworthiness of the underlying borrowers, particularly cash flow from customers’ business or farming operations. The Company continues its efforts to keep loan terms short, reducing the negative impact of upward movement in interest rates. Term loans are generally set up with one or three year balloons, and the Company has instituted a pricing mechanism for commercial loans. It is standard practice to require personal guaranties on commercial loans for closely-held or limited liability entities. Nonaccrual and Past Due Loans – Loans are considered past due if the required principal and interest payments have not been received as of the date such payments were due. Loans are placed on nonaccrual status when, in management’s opinion, the borrower may be unable to meet payment obligations as they become due, as well as when required by regulatory provisions. Loans may be placed on nonaccrual status regardless of whether or not such loans are considered past due. When interest accrual is discontinued, all unpaid accrued interest is reversed. Interest income is subsequently recognized only to the extent cash payments are received in excess of principal due. Loans are returned to accrual status when all the principal and interest amounts contractually due are brought current and future payments are reasonably assured. Nonaccrual loans, excluding loans acquired, segregated by class of loans, are as follows: (In thousands) March 31, 2019 December 31, 2018 Consumer: Credit cards $ 338 $ 296 Other consumer 1,555 2,159 Total consumer 1,893 2,455 Real estate: Construction 2,570 1,269 Single family residential 15,324 11,939 Other commercial 8,612 7,205 Total real estate 26,506 20,413 Commercial: Commercial 31,409 10,049 Agricultural 1,117 1,284 Total commercial 32,526 11,333 Total $ 60,925 $ 34,201 An age analysis of past due loans, excluding loans acquired, segregated by class of loans, is as follows: (In thousands) Gross 30-89 Days Past Due 90 Days or More Past Due Total Past Due Current Total Loans 90 Days Past Due & Accruing March 31, 2019 Consumer: Credit cards $ 733 $ 561 $ 1,294 $ 180,255 $ 181,549 $ 222 Other consumer 3,018 489 3,507 210,152 213,659 52 Total consumer 3,751 1,050 4,801 390,407 395,208 274 Real estate: Construction 961 909 1,870 1,374,292 1,376,162 — Single family residential 10,226 5,491 15,717 1,415,690 1,431,407 7 Other commercial 4,384 4,652 9,036 3,346,073 3,355,109 — Total real estate 15,571 11,052 26,623 6,136,055 6,162,678 7 Commercial: Commercial 6,845 8,611 15,456 1,785,966 1,801,422 — Agricultural 202 954 1,156 146,060 147,216 — Total commercial 7,047 9,565 16,612 1,932,026 1,948,638 — Other — — — 178,026 178,026 — Total $ 26,369 $ 21,667 $ 48,036 $ 8,636,514 $ 8,684,550 $ 281 December 31, 2018 Consumer: Credit cards $ 1,033 $ 506 $ 1,539 $ 202,634 $ 204,173 $ 209 Other consumer 4,264 896 5,160 196,137 201,297 4 Total consumer 5,297 1,402 6,699 398,771 405,470 213 Real estate: Construction 533 308 841 1,299,882 1,300,723 — Single family residential 7,769 4,127 11,896 1,428,547 1,440,443 — Other commercial 3,379 2,773 6,152 3,219,135 3,225,287 — Total real estate 11,681 7,208 18,889 5,947,564 5,966,453 — Commercial: Commercial 4,472 5,105 9,577 1,765,332 1,774,909 11 Agricultural 467 1,055 1,522 162,992 164,514 — Total commercial 4,939 6,160 11,099 1,928,324 1,939,423 11 Other — — — 119,042 119,042 — Total $ 21,917 $ 14,770 $ 36,687 $ 8,393,701 $ 8,430,388 $ 224 Impaired Loans – 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 loans, including scheduled principal and interest payments. This includes loans that are delinquent 90 days or more, nonaccrual loans and certain other loans identified by management. Certain other loans identified by management consist of performing loans with specific allocations of the allowance for loan losses. Impaired loans are carried at the present value of estimated future cash flows using the loan’s existing rate, or the fair value of the collateral if the loan is collateral dependent. 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 March 31, 2019 Three Months Ended Consumer: Credit cards $ 338 $ 338 $ — $ 338 $ — $ 317 $ 30 Other consumer 1,699 1,555 — 1,555 — 1,857 13 Total consumer 2,037 1,893 — 1,893 — 2,174 43 Real estate: Construction 2,648 2,090 480 2,570 237 1,920 14 Single family residential 16,379 11,891 3,432 15,323 38 13,703 98 Other commercial 14,279 3,882 3,201 7,083 137 8,992 64 Total real estate 33,306 17,863 7,113 24,976 412 24,615 176 Commercial: Commercial 38,420 6,268 23,327 29,595 108 20,739 148 Agricultural 2,215 583 532 1,115 1 1,147 8 Total commercial 40,635 6,851 23,859 30,710 109 21,886 156 Total $ 75,978 $ 26,607 $ 30,972 $ 57,579 $ 521 $ 48,675 $ 375 December 31, 2018 Three Months Ended Consumer: Credit cards $ 296 $ 296 $ — $ 296 $ — $ 234 $ 15 Other consumer 2,311 2,159 — 2,159 — 4,658 34 Total consumer 2,607 2,455 — 2,455 — 4,892 49 Real estate: Construction 1,344 784 485 1,269 211 2,082 16 Single family residential 12,906 11,468 616 12,084 36 13,523 100 Other commercial 8,434 5,442 5,458 10,900 — 16,287 120 Total real estate 22,684 17,694 6,559 24,253 247 31,892 236 Commercial: Commercial 10,361 7,254 4,628 11,882 437 7,226 53 Agricultural 2,419 1,180 — 1,180 — 1,586 12 Total commercial 12,780 8,434 4,628 13,062 437 8,812 65 Total $ 38,071 $ 28,583 $ 11,187 $ 39,770 $ 684 $ 45,596 $ 350 At March 31, 2019 and December 31, 2018 , impaired loans, net of government guarantees and excluding loans acquired, totaled $57.6 million and $39.8 million , respectively. Allocations of the allowance for loan losses relative to impaired loans were $521,000 and $684,000 at March 31, 2019 and December 31, 2018 , respectively. Approximately $375,000 of interest income was recognized on average impaired loans of $48.7 million for the three months ended March 31, 2019 . Interest income recognized on impaired loans on a cash basis during the three months ended March 31, 2019 and 2018 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 , a TDR is considered to be impaired, and an impairment analysis must be performed. The Company assesses the exposure for each modification, either by collateral discounting or by calculation of the present value of future cash flows, and determines if a specific allocation to the allowance for loan losses is needed. 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 March 31, 2019 Real estate: Construction — $ — 3 $ 480 3 $ 480 Single-family residential 6 227 9 593 15 820 Other commercial 2 3,250 2 1,003 4 4,253 Total real estate 8 3,477 14 2,076 22 5,553 Commercial: Commercial 4 2,820 5 427 9 3,247 Total commercial 4 2,820 5 427 9 3,247 Total 12 $ 6,297 19 $ 2,503 31 $ 8,800 December 31, 2018 Real estate: Construction — $ — 3 $ 485 3 $ 485 Single-family residential 6 230 10 616 16 846 Other commercial 2 3,306 2 1,027 4 4,333 Total real estate 8 3,536 15 2,128 23 5,664 Commercial: Commercial 4 2,833 6 718 10 3,551 Total commercial 4 2,833 6 718 10 3,551 Total 12 $ 6,369 21 $ 2,846 33 $ 9,215 There were no loans restructured as TDRs during the three months ended March 31, 2019 . The following table presents loans that were restructured as TDRs during the three months ended March 31, 2018 , excluding loans acquired, segregated by class of loans. Modification Type (Dollars in thousands) Number of Loans Balance Prior to TDR Balance at March 31, Change in Maturity Date Change in Rate Financial Impact on Date of Restructure Three Months Ended March 31, 2018 Consumer: Other consumer 1 $ 91 $ 91 $ 91 $ — $ — Total consumer 1 91 91 91 — — Real estate: Single-family residential 1 61 62 62 — — Total real estate 1 61 62 62 — — Total 2 $ 152 $ 153 $ 153 $ — $ — During the three months ended March 31, 2018 , the Company modified 2 loans with a recorded investment of $152,000 prior to modification which were deemed troubled debt restructuring. The restructured loans were modified by deferring amortized principal payments, changing the maturity date and requiring interest only payments for a period of up to 12 months. A specific reserve was not considered necessary for these loans based upon the fair value of the collateral. 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 was one commercial loan considered a TDR for which a payment default occurred during the three months ended March 31, 2019 . A charge-off of approximately $138,000 was recorded for this loan. There was one commercial real estate loan for which a payment default occurred during the three months ended March 31, 2018 . A charge-off of $66,300 was recorded for this loan and $294,300 was transferred to OREO. The Company defines a payment default as a payment received more than 90 days after its due date. In addition to the TDRs that occurred during the periods provided in the preceding tables, the Company had TDRs with pre-modification loan balances, specifically in commercial real estate, of $294,300 at March 31, 2018 , for which OREO was received in full or partial satisfaction of the loans. There were no TDRs with pre-modification loan balance for which OREO was received in full or partial satisfaction of the loans during the three month period ended March 31, 2019 . At March 31, 2019 and December 31, 2018 , the Company had $3,498,000 and $3,899,000 , respectively, of consumer mortgage loans secured by residential real estate properties for which formal foreclosure proceedings are in process. At March 31, 2019 and December 31, 2018 , the Company had $4,716,000 and $3,530,000 , respectively, of OREO secured by residential real estate properties. Credit Quality Indicators – As part of the on-going monitoring of the credit quality of the Company’s loan portfolio, management tracks certain credit quality indicators including trends related to (i) the weighted-average risk rating of commercial and real estate loans, (ii) the level of classified commercial and real estate loans, (iii) net charge-offs, (iv) non-performing loans (see details above) and (v) the general economic conditions in the States of Arkansas, Colorado, Kansas, Missouri, Oklahoma, Tennessee and Texas. 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) – This category includes loans which are virtually free of credit risk. Borrowers in this category represent the highest credit quality and greatest financial strength. • Risk Rate 2 – Pass (Good) - Loans under this category possess a nominal risk of default. This category includes borrowers with strong financial strength and superior financial ratios and trends. These loans are generally fully secured by cash or equivalents (other than those rated “excellent”). • Risk Rate 3 – Pass (Acceptable – Average) - Loans in this category are considered to possess a normal level of risk. Borrowers in this category have satisfactory financial strength and adequate cash flow coverage to service debt requirements. If secured, the perfected collateral should be of acceptable quality and within established borrowing parameters. • Risk Rate 4 – Pass (Monitor) - Loans in the Watch (Monitor) category exhibit an overall acceptable level of risk, but that risk may be increased by certain conditions, which represent “red flags”. These “red flags” require a higher level of supervision or monitoring than the normal “Pass” rated credit. The borrower may be experiencing these conditions for the first time, or it may be recovering from weakness, which at one time justified a higher rating. These conditions may include: weaknesses in financial trends; marginal cash flow; one-time negative operating results; non-compliance with policy or borrowing agreements; poor diversity in operations; lack of adequate monitoring information or lender supervision; questionable management ability/stability. • Risk Rate 5 – Special Mention - A loan in this category has potential weaknesses that deserve management’s close attention. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for the asset or in the institution’s credit position at some future date. Special Mention loans are not adversely classified (although they are “criticized”) and do not expose an institution to sufficient risk to warrant adverse classification. Borrowers may be experiencing adverse operating trends, or an ill-proportioned balance sheet. Non-financial characteristics of a Special Mention rating may include management problems, pending litigation, a non-existent, or ineffective loan agreement or other material structural weakness, and/or other significant deviation from prudent lending practices. • Risk Rate 6 – Substandard - A Substandard loan is inadequately protected by the current sound worth and paying capacity of the borrower or of the collateral pledged, if any. Loans so classified must have a well-defined weakness, or weaknesses, that jeopardize the liquidation of the debt. The loans are characterized by the distinct possibility that the Company will sustain some loss if the deficiencies are not corrected. This does not imply ultimate loss of the principal, but may involve burdensome administrative expenses and the accompanying cost to carry the loan. • Risk Rate 7 – Doubtful - A loan classified Doubtful has all the weaknesses inherent in a substandard loan except that the weaknesses make collection or liquidation in full (on the basis of currently existing facts, conditions, and values) highly questionable and improbable. Doubtful borrowers are usually in default, lack adequate liquidity, or capital, and lack the resources necessary to remain an operating entity. The possibility of loss is extremely high, but because of specific pending events that may strengthen the asset, its classification as loss is deferred. Pending factors include: proposed merger or acquisition; liquidation procedures; capital injection; perfection of liens on additional collateral; and refinancing plans. Loans classified as Doubtful are placed on nonaccrual status. • Risk Rate 8 – Loss - Loans classified Loss are considered uncollectible and of such little value that their continuance as bankable assets is not warranted. This classification does not mean that the loans has absolutely no recovery or salvage value, but rather it is not practical or desirable to defer writing off this basically worthless loan, even though partial recovery may be affected in the future. Borrowers in the Loss category are often in bankruptcy, have formally suspended debt repayments, or have otherwise ceased normal business operations. Loans should be classified as Loss and charged-off in the period in which they become uncollectible. Loans acquired are evaluated using this internal grading system. Loans acquired are evaluated individually and include purchased credit impaired loans of $3.7 million and $4.1 million that are accounted for under ASC Topic 310-30 and are classified as substandard (Risk Rating 6) as of March 31, 2019 and December 31, 2018 , respectively. Of the remaining loans acquired and accounted for under ASC Topic 310-20, $77.2 million and $50.4 million were classified (Risk Ratings 6, 7 and 8 – see classified loans discussion below) at March 31, 2019 and December 31, 2018 , respectively. 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 $177.4 million and $119.0 million , as of March 31, 2019 and December 31, 2018 , respectively. The following table presents a summary of loans by credit risk rating as of March 31, 2019 and December 31, 2018 , 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 1-4 Risk Rate 5 Risk Rate 6 Risk Rate 7 Risk Rate 8 Total March 31, 2019 Consumer: Credit cards $ 180,988 $ — $ 561 $ — $ — $ 181,549 Other consumer 211,642 — 2,017 — — 213,659 Total consumer 392,630 — 2,578 — — 395,208 Real estate: Construction 1,372,113 443 3,606 — — 1,376,162 Single family residential 1,407,554 1,784 21,839 230 — 1,431,407 Other commercial 3,313,139 21,629 20,341 — — 3,355,109 Total real estate 6,092,806 23,856 45,786 230 — 6,162,678 Commercial: Commercial 1,745,162 9,671 46,589 — — 1,801,422 Agricultural 145,828 67 1,321 — — 147,216 Total commercial 1,890,990 9,738 47,910 — — 1,948,638 Other 178,026 — — — — 178,026 Loans acquired 2,930,179 45,157 80,515 336 — 3,056,187 Total $ 11,484,631 $ 78,751 $ 176,789 $ 566 $ — $ 11,740,737 (In thousands) Risk Rate 1-4 Risk Rate 5 Risk Rate 6 Risk Rate 7 Risk Rate 8 Total December 31, 2018 Consumer: Credit cards $ 203,667 $ — $ 506 $ — $ — $ 204,173 Other consumer 198,840 — 2,457 — — 201,297 Total consumer 402,507 — 2,963 — — 405,470 Real estate: Construction 1,296,988 1,910 1,825 — — 1,300,723 Single family residential 1,420,052 1,628 18,528 235 — 1,440,443 Other commercial 3,193,289 17,169 14,829 — — 3,225,287 Total real estate 5,910,329 20,707 35,182 235 — 5,966,453 Commercial: Commercial 1,742,002 8,357 24,550 — — 1,774,909 Agricultural 162,824 75 1,615 — — 164,514 Total commercial 1,904,826 8,432 26,165 — — 1,939,423 Other 119,042 — — — — 119,042 Loans acquired 3,187,083 51,255 54,097 348 — 3,292,783 Total $ 11,523,787 $ 80,394 $ 118,407 $ 583 $ — $ 11,723,171 Allowance for Loan Losses Allowance for Loan Losses – The allowance for loan losses is a reserve established through a provision for loan losses charged to expense, which represents management’s best estimate of probable losses that have been incurred within the existing portfolio of loans. The allowance, in the judgment of management, is necessary to reserve for estimated loan losses and risks inherent in the loan portfolio. The Company’s allowance for loan loss methodology includes allowance allocations calculated in accordance with ASC Topic 310-10, Receivables , and allowance allocations calculated in accordance with ASC Topic 450-20, Loss Contingencies . Accordingly, the methodology is based on the Company’s internal grading system, specific impairment analysis, qualitative and quantitative factors. 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) external factors and pressure from competition, (6) the experience, ability and depth of lending management and staff, (7) seasoning of new products obtained and new markets entered through acquisition and (8) 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 legacy loans for the three months ended March 31, 2019 . 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 Estate Credit Card Other Consumer and Other Total Three Months Ended March 31, 2019 Balance, beginning of period (2) $ 20,514 $ 29,743 $ 3,923 $ 2,419 $ 56,599 Provision for loan losses (1) 1,874 2,843 898 1,206 6,821 Charge-offs (1,968 ) (374 ) (1,142 ) (1,533 ) (5,017 ) Recoveries 158 142 240 300 840 Net charge-offs (1,810 ) (232 ) (902 ) (1,233 ) (4,177 ) Balance, March 31, 2019 (2) $ 20,578 $ 32,354 $ 3,919 $ 2,392 $ 59,243 Period-end amount allocated to: Loans individually evaluated for impairment $ 109 $ 412 $ — $ — $ 521 Loans collectively evaluated for impairment 20,469 31,942 3,919 2,392 58,722 Balance, March 31, 2019 (2) $ 20,578 $ 32,354 $ 3,919 $ 2,392 $ 59,243 Activity in the allowance for loan losses for the three months ended March 31, 2018 was as follows: (In thousands) Commercial Real Estate Credit Card Other Consumer and Other Total Three Months Ended March 31, 2018 Balance, beginning of period (3) $ 7,007 $ 27,281 $ 3,784 $ 3,596 $ 41,668 Provision for loan losses (1) 4,286 3,286 751 759 9,082 Charge-offs (1,761 ) (455 ) (999 ) (1,056 ) (4,271 ) Recoveries 69 302 263 94 728 Net charge-offs (1,692 ) (153 ) (736 ) (962 ) (3,543 ) Balance, March 31, 2018 (2) $ 9,601 $ 30,414 $ 3,799 $ 3,393 $ 47,207 Period-end amount allocated to: Loans individually evaluated for impairment $ 18 $ 426 $ — $ — $ 444 Loans collectively evaluated for impairment 9,583 29,988 3,799 3,393 46,763 Balance, March 31, 2018 (2) $ 9,601 $ 30,414 $ 3,799 $ 3,393 $ 47,207 Period-end amount allocated to: Loans individually evaluated for impairment $ 437 $ 247 $ — $ — $ 684 Loans collectively evaluated for impairment 20,077 29,496 3,923 2,419 55,915 Balance, December 31, 2018 (2) $ 20,514 $ 29,743 $ 3,923 $ 2,419 $ 56,599 ______________________ (1) Provision for loan losses of $2,464,000 attributable to loans acquired was excluded from this table for the three months ended March 31, 2019 (total provision for loan losses for the three months ended March 31, 2019 was $9,285,000 ). There were $1,247,000 in charge-offs for loans acquired during the three months ended March 31, 2019 , resulting in an ending balance in the allowance related to loans acquired of $1,312,000 . Provision for loan losses of $68,000 attributable to loans acquired was excluded from this table for the three months ended March 31, 2018 (total provision for loan losses for the three months ended March 31, 2018 was $9,150,000 ). There were $79,000 in charge-offs for loans acquired during the three months ended March 31, 2018 , resulting in an ending balance in the allowance related to loans acquired of $407,000 . (2) Allowance for loan losses at March 31, 2019 includes $1,312,000 allowance for loans acquired (not shown in the table above). Allowance for loan losses at December 31, 2018 and March 31, 2018 includes $95,000 and $407,000 , respectively, of allowance for loans acquired (not shown in the table above). The total allowance for loan losses at March 31, 2019 was $60,555,000 and total allowance for loan losses at December 31, 2018 and March 31, 2018 was $56,694,000 and $47,614,000 , respectively. (3) Allowance for loan losses at December 31, 2017 includes $418,000 allowance for loans acquired (not shown in the table above). The total allowance for loan losses at December 31, 2017 was $42,086,000 . 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 Estate Credit Card Other Consumer and Other Total March 31, 2019 Loans individually evaluated for impairment $ 30,710 $ 24,976 $ 338 $ 1,555 $ 57,579 Loans collectively evaluated for impairment 1,917,928 6,137,702 181,211 390,130 8,626,971 Balance, end of period $ 1,948,638 $ 6,162,678 $ 181,549 $ 391,685 $ 8,684,550 December 31, 2018 Loans individually evaluated for impairment $ 13,062 $ 24,253 $ 296 $ 2,159 $ 39,770 Loans collectively evaluated for impairment 1,926,361 5,942,200 203,877 318,180 8,390,618 Balance, end of period $ 1,939,423 $ 5,966,453 $ 204,173 $ 320,339 $ 8,430,388 |
Loans Acquired
Loans Acquired | 3 Months Ended |
Mar. 31, 2019 | |
Receivables [Abstract] | |
Loans Acquired | LOANS ACQUIRED The Company accounts for its acquisitions under ASC Topic 805, Business Combinations , which requires the use of the acquisition method of accounting. All identifiable assets acquired, including loans, are recorded at fair value. No allowance for loan losses related to the loans acquired is recorded on the acquisition date as the fair value of the loans acquired incorporates assumptions regarding credit risk. Loans acquired are recorded at fair value in accordance with the fair value methodology prescribed in ASC Topic 820, Fair Value Measurement . The fair value estimates associated with the loans include estimates related to expected prepayments and the amount and timing of undiscounted expected principal, interest and other cash flows. The Company evaluates non-impaired loans acquired in accordance with the provisions of ASC Topic 310-20, Nonrefundable Fees and Other Costs . The fair value discount on these loans is accreted into interest income over the weighted average life of the loans using a constant yield method. The Company evaluates purchased impaired loans in accordance with the provisions of ASC Topic 310-30, Loans and Debt Securities Acquired with Deteriorated Credit Quality . Purchased loans are considered impaired if there is evidence of credit deterioration since origination and if it is probable that not all contractually required payments will be collected. For impaired loans accounted for under ASC Topic 310-30, the Company continues to estimate cash flows expected to be collected on purchased credit impaired loans. The Company evaluates, at each balance sheet date, whether the present value of the purchased credit impaired loans determined using the effective interest rates has decreased significantly and if so, recognize a provision for loan loss in the 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 purchased credit impaired loan. The following table reflects the carrying value of all loans acquired as of March 31, 2019 and December 31, 2018 : Loans Acquired (In thousands) March 31, 2019 December 31, 2018 Consumer: Other consumer $ 11,979 $ 15,658 Real estate: Construction 404,512 429,605 Single family residential 533,917 566,188 Other commercial 1,730,472 1,848,679 Total real estate 2,668,901 2,844,472 Commercial: Commercial 374,033 430,914 Agricultural 1,274 1,739 Total commercial 375,307 432,653 Total loans acquired (1) $ 3,056,187 $ 3,292,783 ________________________ (1) Loans acquired are reported net of a $1,312,000 and $95,000 allowance at March 31, 2019 and December 31, 2018 , respectively. Nonaccrual loans acquired, excluding purchased credit impaired loans accounted for under ASC Topic 310-30, segregated by class of loans, are as follows (see Note 4, Loans and Allowance for Loan Losses, for discussion of nonaccrual loans): (In thousands) March 31, 2019 December 31, 2018 Consumer: Other consumer $ 149 $ 140 Real estate: Construction 130 114 Single family residential 6,342 6,603 Other commercial 8,973 1,167 Total real estate 15,445 7,884 Commercial: Commercial 3,117 13,578 Agricultural 20 38 Total commercial 3,137 13,616 Total $ 18,731 $ 21,640 An age analysis of past due loans acquired 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 30-89 Days Past Due 90 Days or More Past Due Total Past Due Current Total Loans 90 Days Past Due & Accruing March 31, 2019 Consumer: Other consumer $ 94 $ 77 $ 171 $ 11,808 $ 11,979 $ — Real estate: Construction 5 8,122 8,127 396,385 404,512 — Single family residential 5,058 2,583 7,641 526,276 533,917 24 Other commercial 305 8,267 8,572 1,721,900 1,730,472 — Total real estate 5,368 18,972 24,340 2,644,561 2,668,901 24 Commercial: Commercial 7,265 6,673 13,938 360,095 374,033 — Agricultural — — — 1,274 1,274 — Total commercial 7,265 6,673 13,938 361,369 375,307 — Total $ 12,727 $ 25,722 $ 38,449 $ 3,017,738 $ 3,056,187 $ 24 (In thousands) Gross 30-89 Days Past Due 90 Days or More Past Due Total Past Due Current Total Loans 90 Days Past Due & Accruing December 31, 2018 Consumer: Other consumer $ 337 $ 49 $ 386 $ 15,272 $ 15,658 $ 2 Real estate: Construction 8,283 27 8,310 421,295 429,605 — Single family residential 4,706 3,049 7,755 558,433 566,188 — Other commercial 168 577 745 1,847,934 1,848,679 — Total real estate 13,157 3,653 16,810 2,827,662 2,844,472 — Commercial: Commercial 1,302 9,542 10,844 420,070 430,914 — Agricultural 31 5 36 1,703 1,739 — Total commercial 1,333 9,547 10,880 421,773 432,653 — Total $ 14,827 $ 13,249 $ 28,076 $ 3,264,707 $ 3,292,783 $ 2 The following table presents a summary of loans acquired 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 1-4 Risk Rate 5 Risk Rate 6 Risk Rate 7 Risk Rate 8 Total March 31, 2019 Consumer: Other consumer $ 11,715 $ — $ 264 $ — $ — $ 11,979 Real estate: Construction 369,267 27,475 7,770 — — 404,512 Single family residential 520,159 2,049 11,373 336 — 533,917 Other commercial 1,675,051 11,894 43,527 — — 1,730,472 Total real estate 2,564,477 41,418 62,670 336 — 2,668,901 Commercial: Commercial 352,779 3,739 17,515 — — 374,033 Agricultural 1,208 — 66 — — 1,274 Total commercial 353,987 3,739 17,581 — — 375,307 Total $ 2,930,179 $ 45,157 $ 80,515 $ 336 $ — $ 3,056,187 (In thousands) Risk Rate 1-4 Risk Rate 5 Risk Rate 6 Risk Rate 7 Risk Rate 8 Total December 31, 2018 Consumer: Other consumer $ 15,380 $ — $ 278 $ — $ — $ 15,658 Real estate: Construction 393,122 27,621 8,862 — — 429,605 Single family residential 553,460 2,081 10,299 348 — 566,188 Other commercial 1,822,179 9,137 17,363 — — 1,848,679 Total real estate 2,768,761 38,839 36,524 348 — 2,844,472 Commercial: Commercial 401,300 12,416 17,198 — — 430,914 Agricultural 1,642 — 97 — — 1,739 Total commercial 402,942 12,416 17,295 — — 432,653 Total $ 3,187,083 $ 51,255 $ 54,097 $ 348 $ — $ 3,292,783 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. In addition to the accretable yield on loans acquired not considered to be impaired, 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 an increase in interest income that is spread on a level-yield basis over the remaining expected lives of the loans. 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 months ended March 31, 2019 and 2018 . Three Months Ended Three Months Ended (In thousands) Accretable Yield Carrying Amount of Loans Accretable Yield Carrying Amount of Loans Beginning balance $ 1,460 $ 4,050 $ 620 $ 17,116 Additions — — — — Accretable yield adjustments 17 — 1,134 — Accretion (9 ) 9 (385 ) 385 Payments and other reductions, net — (408 ) — 104 Balance, ending $ 1,468 $ 3,651 $ 1,369 $ 17,605 Purchased impaired loans are evaluated on an individual borrower basis. Because some loans evaluated by the Company were determined to have experienced impairment in the estimated credit quality or cash flows, the Company recorded a provision and established an allowance for loan loss for loans acquired resulting in a total allowance on loans acquired of $1,312,000 at March 31, 2019 and $95,000 at December 31, 2018 . The provision on loans acquired for the three months ended March 31, 2019 and 2018 was $2,464,000 and $68,000 , respectively. |
Right-of-Use Lease Assets and L
Right-of-Use Lease Assets and Lease Liabilities | 3 Months Ended |
Mar. 31, 2019 | |
Leases [Abstract] | |
Right-of-Use Lease Assets and Lease Liabilities | RIGHT-OF-USE LEASE ASSETS AND LEASE LIABILITIES As of the first quarter 2019, the Company accounts for its leases in accordance with ASC Topic 842, Leases , which requires recognition of most leases, including operating leases, with a term greater than 12 months, on the balance sheet. At lease commencement, the lease contract is reviewed to determine whether the contract is a finance lease or an operating lease; a lease liability is recognized on a discounted basis, related to the Company’s obligation to make lease payments; and a right-of-use asset is also recognized related to the Company’s right to use, or control the use of, a specified asset for the lease term. The Company accounts for lease and non-lease components (such as taxes, insurance and common area maintenance costs) separately as such amounts are generally readily determinable under the lease contracts. Lease payments over the expected term are discounted using the Company’s Federal Home Loan Bank advance rates for borrowings of similar term. If it is reasonably certain that a renewal or termination option will be exercised, the effects of such options are included in the determination of the expected lease term. Leases with an initial term of 12 months or less are not recorded on the balance sheet; the Company recognizes lease expense for these leases on a straight-line basis over the lease term. The Company’s leases are classified as operating leases with a term, including expected renewal or termination options, greater than one year, and are related to certain office facilities and office equipment. As of March 31, 2019 , right-of-use lease assets included in premises and equipment are $30.5 million and lease liabilities included in other liabilities are $30.4 million . During the three months ended March 31, 2019 , the Company recognized lease expense of $2.6 million and the weighted average discount rate was 3.46% . At March 31, 2019 , the weighted average remaining lease term was 9.29 years. See Note 1, in the Recently Adopted Accounting Standards section, for additional information related to the adoption of ASC Topic 842. |
Goodwill and Other Intangible A
Goodwill and Other Intangible Assets | 3 Months Ended |
Mar. 31, 2019 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Goodwill and Other Intangible Assets | 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 $845.7 million at both March 31, 2019 and December 31, 2018 . Goodwill impairment was neither indicated nor recorded during the three months ended March 31, 2019 or the year ended December 31, 2018 . Core deposit premiums are amortized over periods ranging from 10 to 15 years and are periodically evaluated, at least annually, as to the recoverability of their carrying value. Additionally, intangible assets are being amortized over various periods ranging from 10 to 15 years. The Company’s goodwill and other intangibles (carrying basis and accumulated amortization) at March 31, 2019 and December 31, 2018 , were as follows: (In thousands) March 31, 2019 December 31, 2018 Goodwill $ 845,687 $ 845,687 Core deposit premiums: Gross carrying amount 105,984 105,984 Accumulated amortization (28,552 ) (26,177 ) Core deposit premiums, net 77,432 79,807 Books of business intangible: Gross carrying amount 15,234 15,234 Accumulated amortization (3,972 ) (3,707 ) Books of business intangible, net 11,262 11,527 Other intangible assets, net 88,694 91,334 Total goodwill and other intangible assets $ 934,381 $ 937,021 The Company’s estimated remaining amortization expense on intangibles as of March 31, 2019 is as follows: (In thousands) Year Amortization Expense Remainder of 2019 $ 7,924 2020 10,552 2021 10,490 2022 10,438 2023 10,156 Thereafter 39,134 Total $ 88,694 |
Time Deposits
Time Deposits | 3 Months Ended |
Mar. 31, 2019 | |
Banking and Thrift [Abstract] | |
Time Deposits | TIME DEPOSITS Time deposits include approximately $1.507 billion and $1.443 billion of certificates of deposit of $100,000 or more at March 31, 2019 , and December 31, 2018 , respectively. Of this total approximately $770.1 million and $753.2 million of certificates of deposit were over $250,000 at March 31, 2019 and December 31, 2018 , respectively. |
Income Taxes
Income Taxes | 3 Months Ended |
Mar. 31, 2019 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | INCOME TAXES The provision for income taxes is comprised of the following components for the periods indicated below: Three Months Ended (In thousands) 2019 2018 Income taxes currently payable $ 10,317 $ 10,045 Deferred income taxes 2,081 3,921 Provision for income taxes $ 12,398 $ 13,966 The tax effects of temporary differences between the tax basis of assets and liabilities and their financial reporting amounts that give rise to deferred income tax assets and liabilities, and their appropriate tax effects, are as follows: (In thousands) March 31, 2019 December 31, 2018 Deferred tax assets: Loans acquired $ 11,052 $ 12,536 Allowance for loan losses 14,885 13,947 Valuation of foreclosed assets 1,474 1,474 Tax NOLs from acquisition 6,969 7,242 Deferred compensation payable 2,793 2,707 Accrued equity and other compensation 6,304 8,182 Acquired securities 397 397 Unrealized loss on available-for-sale securities 2,718 9,196 Other 7,130 7,042 Gross deferred tax assets 53,722 62,723 (In thousands) March 31, 2019 December 31, 2018 Deferred tax liabilities: Goodwill and other intangible amortization $ (30,273 ) $ (30,471 ) Accumulated depreciation (13,361 ) (13,361 ) Other (5,115 ) (5,360 ) Gross deferred tax liabilities (48,749 ) (49,192 ) Net deferred tax asset, included in other assets $ 4,973 $ 13,531 A reconciliation of income tax expense at the statutory rate to the Company’s actual income tax expense is shown for the periods indicated below: Three Months Ended (In thousands) 2019 2018 Computed at the statutory rate (21%) $ 12,620 $ 13,708 Increase (decrease) in taxes resulting from: State income taxes, net of federal tax benefit 1,345 1,822 Discrete items related to ASU 2016-09 (26 ) (273 ) Tax exempt interest income (961 ) (677 ) Tax exempt earnings on BOLI (179 ) (186 ) Federal tax credits (729 ) — Other differences, net 328 (428 ) Actual tax provision $ 12,398 $ 13,966 The Company follows ASC Topic 740, Income Taxes , which prescribes a recognition threshold and a measurement attribute for the financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. Benefits from tax positions should be recognized in the financial statements only when it is more likely than not that the tax position will be sustained upon examination by the appropriate taxing authority that would have full knowledge of all relevant information. A tax position that meets the more-likely-than-not recognition threshold is measured at the largest amount of benefit that is greater than fifty percent likely of being realized upon ultimate settlement. Tax positions that previously failed to meet the more-likely-than-not recognition threshold should be recognized in the first subsequent financial reporting period in which that threshold is met. Previously recognized tax positions that no longer meet the more-likely-than-not recognition threshold should be derecognized in the first subsequent financial reporting period in which that threshold is no longer met. ASC Topic 740 also provides guidance on the accounting for and disclosure of unrecognized tax benefits, interest and penalties. The Company has no history of expiring net operating loss carryforwards and is projecting significant pre-tax and financial taxable income in 2019 and in future years. The Company expects to fully realize its deferred tax assets in the future. 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 $33.8 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 2015 tax year and forward. The Company’s various state income tax returns are generally open from the 2015 and later tax return years based on individual state statute of limitations. |
Securities Sold Under Agreement
Securities Sold Under Agreements to Repurchase | 3 Months Ended |
Mar. 31, 2019 | |
Banking and Thrift [Abstract] | |
Securities Sold Under Agreements to Repurchase | SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE The Company utilizes securities sold under agreements to repurchase to facilitate the needs of its 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. The Company monitors collateral levels on a continuous basis. The Company 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 safekeeping agents. The gross amount of recognized liabilities for repurchase agreements was $117.0 million and $95.5 million at March 31, 2019 and December 31, 2018 , respectively. The remaining contractual maturity of the securities sold under agreements to repurchase in the consolidated balance sheets as of March 31, 2019 and December 31, 2018 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 March 31, 2019 Repurchase agreements: U.S. Government agencies $ 116,963 $ — $ — $ — $ 116,963 December 31, 2018 Repurchase agreements: U.S. Government agencies $ 95,542 $ — $ — $ — $ 95,542 |
Other Borrowings and Subordinat
Other Borrowings and Subordinated Notes and Debentures | 3 Months Ended |
Mar. 31, 2019 | |
Debt Disclosure [Abstract] | |
Other Borrowings and Subordinated Notes and Debentures | OTHER BORROWINGS AND SUBORDINATED NOTES AND DEBENTURES Debt at March 31, 2019 and December 31, 2018 consisted of the following components: (In thousands) March 31, 2019 December 31, 2018 Other Borrowings FHLB advances, net of discount, due 2019 to 2033, 1.38% to 7.37% secured by real estate loans $ 1,169,989 $ 1,345,450 Revolving credit agreement, due 10/4/2019, floating rate of 1.50% above the one month LIBOR rate, unsecured — — Total other borrowings 1,169,989 1,345,450 Subordinated Notes and Debentures Subordinated notes payable, due 4/1/2028, fixed-to-floating rate (fixed rate of 5.00% through 3/31/2023, floating rate of 2.15% above the three month LIBOR rate, reset quarterly) 330,000 330,000 Trust preferred securities, net of discount, due 9/15/2037, floating rate of 1.37% above the three month LIBOR rate, reset quarterly 10,310 10,310 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 10,310 10,310 Trust preferred securities, due 12/15/2035, floating rate of 1.45% above the three month LIBOR rate, reset quarterly, callable without penalty 6,702 6,702 Unamortized debt issuance costs (3,281 ) (3,372 ) Total subordinated notes and debentures 354,041 353,950 Total other borrowings and subordinated debt $ 1,524,030 $ 1,699,400 In March 2018, the Company issued $330.0 million in aggregate principal amount, of 5.00% Fixed-to-Floating Rate Subordinated Notes (“the Notes”) at a public offering price equal to 100% of the aggregate principal amount of the Notes. The Company incurred $3.6 million in debt issuance costs related to the offering during March. The Notes will mature on April 1, 2028 and will bear interest at an initial fixed rate of 5.00% per annum, payable semi-annually in arrears. From and including April 1, 2023 to, but excluding, the maturity date or the date of earlier redemption, the interest rate will reset quarterly to an annual interest rate equal to the then-current three month LIBOR rate plus 215 basis points, payable quarterly in arrears. The Notes will be subordinated in right of payment to the payment of the Company’s other existing and future senior indebtedness, including all of its general creditors. The Notes are obligations of Simmons First National Corporation only and are not obligations of, and are not guaranteed by, any of its subsidiaries. During 2018, the Company used a portion of the net proceeds from the sale of the Notes to repay certain outstanding indebtedness, including the amounts borrowed under the Revolving Credit Agreement (the “Credit Agreement”), certain trust preferred securities, both discussed below, and unsecured debt from correspondent banks. The Notes qualify for Tier 2 capital treatment. In 2017, the Company entered into the Credit Agreement with U.S. Bank National Association and executed an unsecured Revolving Credit Note pursuant to which the Company may borrow, prepay and re-borrow up to $75.0 million , the proceeds of which were primarily used to pay off amounts outstanding under a term note assumed with the First Texas acquisition. The Credit Agreement contained customary representations, warranties, and covenants of the Company, including, among other things, covenants that impose various financial ratio requirements. In October 2018, the Company and U.S. Bank National Association entered into a First Amendment to the Credit Agreement, which extended the expiration date from October 5, 2018 to October 4, 2019, reduced the $75.0 million to $50.0 million , and increased the commitment fee on the unused portion from an annual rate of 0.25% to 0.30% . In December 2018, the Company entered into a Second Amendment to the Credit Agreement that clarified the financial metrics contained in certain affirmative covenants are evaluated on a consolidated basis. In October 2019, all amounts borrowed, together with applicable interest, fees, and other amounts owed by the Company are due and payable. The balance due under the Credit Agreement at March 31, 2019 was zero . At March 31, 2019 , the Company had $1.2 billion of Federal Home Loan Bank (“FHLB”) advances outstanding with original or expected maturities of one year or less, of which $775.0 million are FHLB Owns the Option (“FOTO”) advances. FOTO advances are a low cost, fixed-rate source of funding in return for granting to FHLB the flexibility to choose a termination date earlier than the maturity date. Typically, FOTO exercise dates follow a specified lockout period at the beginning of the term when FHLB cannot terminate the FOTO advance. If FHLB exercises its option to terminate the FOTO advance at one of the specified option exercise dates, there is no termination or prepayment fee, and replacement funding will be available at then-prevailing market rates, subject to FHLB’s credit and collateral requirements. The Company’s FOTO advances outstanding at the end of the first quarter have ten to fifteen year maturity dates with lockout periods that vary but do not exceed one year. These FOTO advances are considered and monitored by the Company as short-term advances due to the likelihood of FHLB exercising the options within a year of the settlement dates based upon the rising rate environment and the short lockout periods. The Company had total FHLB advances of $1.2 billion at March 31, 2019 , with approximately $2.2 billion of additional advances available from the FHLB. The FHLB advances are secured by mortgage loans and investment securities totaling approximately $4.7 billion at March 31, 2019 . The trust preferred securities are tax-advantaged issues that qualified for Tier 1 capital treatment until December 31, 2017, when the Company reached $15 billion in assets. They still qualify for inclusion as Tier 2 capital at March 31, 2019 . 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 payments 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. The Company’s long-term debt includes subordinated debt, notes payable and long-term FHLB advances with an original maturity of greater than one year. Aggregate annual maturities of long-term debt at March 31, 2019 , are as follows: (In thousands) Year Annual Maturities 2019 $ 1,775 2020 2,099 2021 1,801 2022 948 2023 925 Thereafter 361,482 Total $ 369,030 |
Contingent Liabilities
Contingent Liabilities | 3 Months Ended |
Mar. 31, 2019 | |
Commitments and Contingencies Disclosure [Abstract] | |
Contingent Liabilities | CONTINGENT LIABILITIES The Company and/or its subsidiaries have various unrelated legal proceedings, which, in the aggregate, are not expected to have a material adverse effect on the financial position of the Company and its subsidiaries. |
Common Stock
Common Stock | 3 Months Ended |
Mar. 31, 2019 | |
Equity [Abstract] | |
Common Stock | COMMON STOCK On January 18, 2018, the board of directors of the Company approved a two-for-one stock split of the Corporation’s outstanding Class A common stock (“Common Stock”) in the form of a 100% stock dividend for shareholders of record as of the close of business on January 30, 2018 (“Record Date”). The new shares were distributed by the Company’s transfer agent, Computershare, and the Company’s common stock began trading on a split-adjusted basis on the NASDAQ Global Select Market on February 9, 2018. All previously reported share and per share data included in filings subsequent to February 8, 2018 are restated to reflect the retroactive effect of this two -for-one stock split. On March 19, 2018, the Company filed a shelf registration with the SEC. The shelf registration statement provides increased flexibility and more efficient access to raise capital from time to time through the sale of common stock, preferred stock, debt securities, depository shares, warrants, purchase contracts, purchase units, subscription rights, units 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. On April 19, 2018, shareholders of the Company approved an increase in the number of authorized shares from 120,000,000 to 175,000,000 . On July 23, 2012, the Company approved a stock repurchase program which authorized the repurchase of up to 1,700,000 shares (split adjusted) of Class A common stock, or approximately 2% of the shares outstanding. Under the current plan, the Company can repurchase an additional 308,272 shares. 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 had no repurchases of its common stock during the three month period ended March 31, 2019 . |
Undivided Profits
Undivided Profits | 3 Months Ended |
Mar. 31, 2019 | |
Equity [Abstract] | |
Undivided Profits | UNDIVIDED PROFITS The Company’s subsidiary bank is subject to legal limitations 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 March 31, 2019 , the Company’s subsidiary bank had approximately $57.7 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 Basel III Rules effective January 1, 2015, 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 was phased in over a four -year period (increasing by that amount on each subsequent January 1 until it reached 2.5% on January 1, 2019). As of March 31, 2019 , the Company and its subsidiary bank met all capital adequacy requirements under the Basel III Capital Rules. The Company’s CET1 ratio was 10.46% at March 31, 2019 . |
Stock Based Compensation
Stock Based Compensation | 3 Months Ended |
Mar. 31, 2019 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Stock Based Compensation | STOCK BASED COMPENSATION The Company’s Board of Directors has adopted various stock-based compensation plans. The plans provide for the grant of incentive stock options, nonqualified stock options, stock appreciation rights, restricted stock awards, restricted stock units, and performance stock units. Pursuant to the plans, shares are reserved for future issuance by the Company upon exercise of stock options or awarding of performance or 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 three months ended March 31, 2019 : Stock Options Outstanding Non-vested Stock Awards Outstanding Non-vested Stock Units Outstanding Number of Shares (000) Weighted Average Exercise Price Number of Shares (000) Weighted Average Grant-Date Fair Value Number of Shares (000) Weighted Average Grant-Date Fair Value Balance, January 1, 2019 695 $ 22.42 72 $ 21.45 817 $ 27.65 Granted — — — — 399 26.57 Stock options exercised (1 ) 10.65 — — — — Stock awards/units vested (earned) — — (21 ) 18.65 (266 ) 26.55 Forfeited/expired — — (1 ) 18.92 (57 ) 28.45 Balance, March 31, 2019 694 $ 22.43 50 $ 22.68 893 $ 27.49 Exercisable, March 31, 2019 694 $ 22.43 The following table summarizes information about stock options under the plans outstanding at March 31, 2019 : Options Outstanding Options Exercisable Range of Exercise Prices Number of Shares (000) Weighted Average Remaining Contractual Life (Years) Weighted Average Exercise Price Number of Shares (000) Weighted Average Exercise Price $ 9.46 — $ 9.46 1 2.80 $9.46 1 $9.46 10.65 — 10.65 3 3.83 10.65 3 10.65 10.76 — 10.76 2 0.80 10.76 2 10.76 20.29 — 20.29 71 5.75 20.29 71 20.29 20.36 — 20.36 3 5.63 20.36 3 20.36 22.20 — 22.20 74 5.98 22.20 74 22.20 22.75 — 22.75 436 6.36 22.75 436 22.75 23.51 — 23.51 97 6.81 23.51 97 23.51 24.07 — 24.07 7 6.46 24.07 7 24.07 $ 9.46 — $ 24.07 694 6.28 $22.43 694 $22.43 The table below summarizes the Company’s restricted performance stock unit activity for the three months ended March 31, 2019 : (In thousands) Performance Stock Units Non-vested, January 1, 2019 177 Granted 83 Vested (earned) (54 ) Forfeited (17 ) Non-vested, March 31, 2019 189 Stock-based compensation expense was $3,084,000 and $2,621,000 during the three months ended March 31, 2019 and 2018 , respectively. Stock-based compensation expense is recognized ratably over the requisite service period for all stock-based awards. There was zero of unrecognized stock-based compensation expense related to stock options at March 31, 2019 . Unrecognized stock-based compensation expense related to non-vested stock awards and stock units was $20,533,000 at March 31, 2019 . At such date, the weighted-average period over which this unrecognized expense is expected to be recognized was 2.0 years. The intrinsic value of stock options outstanding and stock options exercisable at March 31, 2019 was $1,425,000 and $1,423,000 , respectively. Aggregate intrinsic value represents the difference between the Company’s closing stock price on the last trading day of the period, which was $24.48 as of March 31, 2019 , and the exercise price multiplied by the number of options outstanding. The total intrinsic value of stock options exercised during the three months ended March 31, 2019 and March 31, 2018 , was $6,000 and $646,000 , 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. There were no stock options granted during the three months ended March 31, 2019 and 2018 . |
Earnings Per Share ("EPS")
Earnings Per Share ("EPS") | 3 Months Ended |
Mar. 31, 2019 | |
Earnings Per Share [Abstract] | |
Earnings Per Share (EPS) | EARNINGS PER SHARE (“EPS”) Basic EPS is computed based on the weighted average number of shares outstanding during each period. Diluted EPS is computed using the weighted average common shares and all potential dilutive common shares outstanding during the period. The computation of earnings per share is as follows: Three Months Ended (In thousands, except per share data) 2019 2018 Net income $ 47,695 $ 51,312 Average common shares outstanding 92,520 92,182 Average potential dilutive common shares 351 457 Average diluted common shares 92,871 92,639 Basic earnings per share $ 0.52 $ 0.56 Diluted earnings per share $ 0.51 $ 0.55 There were no stock options excluded from the earnings per share calculation due to the related exercise price exceeding the average market price for the three months ended March 31, 2019 and 2018 . |
Additional Cash Flow Informatio
Additional Cash Flow Information | 3 Months Ended |
Mar. 31, 2019 | |
Supplemental Cash Flow Information [Abstract] | |
Additional Cash Flow Information | ADDITIONAL CASH FLOW INFORMATION The following is a summary of the Company’s additional cash flow information: Three Months Ended (In thousands) 2019 2018 Interest paid $ 38,047 $ 22,863 Income taxes (refunded) paid (54 ) (7,375 ) Transfers of loans to foreclosed assets held for sale 569 1,316 Transfers of premises to foreclosed assets and other real estate owned — 106 Right-of use lease assets obtained in exchange for lessee operating lease liabilities 32,757 — |
Other Operating Expenses
Other Operating Expenses | 3 Months Ended |
Mar. 31, 2019 | |
Other Income and Expenses [Abstract] | |
Other Operating Expenses | OTHER OPERATING EXPENSES Other operating expenses consist of the following: Three Months Ended (In thousands) 2019 2018 Professional services $ 4,323 $ 4,330 Postage 1,726 1,399 Telephone 1,619 1,486 Credit card expense 3,860 3,228 Marketing 3,057 1,660 Software and technology 4,496 2,648 Operating supplies 618 749 Amortization of intangibles 2,641 2,837 Branch right sizing expense 45 61 Other expense 7,677 7,096 Total other operating expenses $ 30,062 $ 25,494 |
Certain Transactions
Certain Transactions | 3 Months Ended |
Mar. 31, 2019 | |
Related Party Transactions [Abstract] | |
Certain Transactions | CERTAIN TRANSACTIONS From time to time, the Company and its subsidiaries have made loans, other extensions of credit, and vendor contracts to directors, officers, their associates and members of their immediate families. Additionally, some directors, officers and their associates and members of their immediate families have placed deposits with the Company’s subsidiary bank, Simmons Bank. Such loans and other extensions of credit, deposits and vendor contracts (which were not material) 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 or through a competitive bid process. Further, in management’s opinion, these extensions of credit did not involve more than normal risk of collectability or present other unfavorable features. |
Commitments and Credit Risk
Commitments and Credit Risk | 3 Months Ended |
Mar. 31, 2019 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Credit Risk | COMMITMENTS AND CREDIT RISK The Company grants agri-business, commercial and residential loans to customers primarily throughout Arkansas, Colorado, Kansas, Missouri, Oklahoma, Tennessee and Texas, 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 March 31, 2019 , the Company had outstanding commitments to extend credit aggregating approximately $573,779,000 and $3,384,471,000 for credit card commitments and other loan commitments. At December 31, 2018 , the Company had outstanding commitments to extend credit aggregating approximately $560,863,000 and $3,455,471,000 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 $36,929,000 and $39,101,000 at March 31, 2019 , and December 31, 2018 , respectively, with terms ranging from 9 months to 15 years. At March 31, 2019 and December 31, 2018 , the Company had no deferred revenue under standby letter of credit agreements. |
Fair Value Measurements
Fair Value Measurements | 3 Months Ended |
Mar. 31, 2019 | |
Fair Value Disclosures [Abstract] | |
Fair Value Measurements | FAIR VALUE MEASUREMENTS ASC Topic 820, Fair Value Measurements defines fair value, establishes a framework for measuring fair value and expands disclosures about 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 – Quoted prices in active markets for identical assets or liabilities. • Level 2 Inputs – Observable inputs other than Level 1 prices, such as quoted prices for similar assets or liabilities in active markets; quoted prices for similar assets or liabilities in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. • Level 3 Inputs – Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. 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 – Where quoted market prices are available in an active market, securities are classified within Level 1 of the valuation hierarchy. Level 1 securities would include highly liquid government bonds, mortgage products and exchange traded equities. Other securities classified as available-for-sale are reported at fair value utilizing Level 2 inputs. For these securities, the Company obtains fair value measurements from an independent pricing service. The fair value measurements consider observable data that may include dealer quotes, market spreads, cash flows, the U.S. Treasury yield curve, live trading levels, trade execution data, market consensus prepayment speeds, credit information and the security’s terms and conditions, among other things. In order to ensure the fair values are consistent with ASC Topic 820, the Company periodically checks the fair values by comparing them to another pricing source, such as Bloomberg. The availability of pricing confirms Level 2 classification in the fair value hierarchy. The third-party pricing service is subject to an annual review of internal controls (SSAE 16), which is made available for the Company’s review. In certain cases where Level 1 or Level 2 inputs are not available, securities are classified within Level 3 of the hierarchy. The Company’s investment in U.S. Treasury securities, if any, is reported at fair value utilizing Level 1 inputs. The remainder of the Company’s available-for-sale securities are reported at fair value utilizing Level 2 inputs. Derivative instruments – The Company’s derivative instruments are reported at fair value utilizing Level 2 inputs. The Company obtains fair value measurements from dealer quotes. 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 March 31, 2019 and December 31, 2018 . Fair Value Measurements Using (In thousands) Fair Value Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) March 31, 2019 Available-for-sale securities U.S. Government agencies $ 161,577 $ — $ 161,577 $ — Mortgage-backed securities 1,345,677 — 1,345,677 — State and political subdivisions 580,790 — 580,790 — Other securities 152,067 — 152,067 — Derivative asset 6,306 — 6,306 — Derivative liability (5,861 ) — (5,861 ) — December 31, 2018 Available-for-sale securities U.S. Government agencies $ 154,301 $ — $ 154,301 $ — Mortgage-backed securities 1,522,900 — 1,522,900 — States and political subdivisions 314,843 — 314,843 — Other securities 159,708 — 159,708 — Derivative asset 6,242 — 6,242 — Derivative liability (5,283 ) — (5,283 ) — 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) – Loan impairment is reported when full payment under the loan terms is not expected. Allowable methods for determining the amount of impairment include estimating fair value using the fair value of the collateral for collateral-dependent loans. If the impaired loan is identified as collateral dependent, then the fair value method of measuring the amount of impairment is utilized. This method requires obtaining a current independent appraisal of the collateral and applying a discount factor to the value. A portion of the allowance for loan losses is allocated to impaired loans if the value of such loans is deemed to be less than the unpaid balance. If these allocations cause the allowance for loan losses to require an increase, such increase is reported as a component of the provision for loan losses. Loan losses are charged against the allowance when management believes the uncollectability of a loan is confirmed. Impaired loans that are collateral dependent are classified within Level 3 of the fair value hierarchy when impairment is determined using the fair value method. 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 and other real estate owned – Foreclosed assets and other real estate owned are reported at fair value, less estimated costs to sell. At foreclosure, if the fair value, less estimated costs to sell, of the real estate acquired is less than the Company’s recorded investment in the related loan, a write-down is recognized through a charge to the allowance for loan losses. Additionally, valuations are periodically performed by management and any subsequent reduction in value is recognized by a charge to income. The fair value of foreclosed assets and other real estate owned is estimated using Level 3 inputs based on unobservable market data. As of March 31, 2019 and December 31, 2018 , the fair value of foreclosed assets and other real estate owned less estimated costs to sell was $19.0 million and $25.6 million , respectively. 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 – Mortgage loans held for sale are reported at fair value if, on an aggregate basis, the fair value of the loans is less than cost. In determining whether the fair value of loans held for sale is less than cost when quoted market prices are not available, the Company may consider outstanding investor commitments, discounted cash flow analyses with market assumptions or the fair value of the collateral if the loan is collateral dependent. Such loans are classified within either Level 2 or Level 3 of the fair value hierarchy. Where assumptions are made using significant unobservable inputs, such loans held for sale are classified as Level 3. At March 31, 2019 and December 31, 2018 , the aggregate fair value of mortgage loans held for sale exceeded their cost. Accordingly, no mortgage loans held for sale were marked down and reported at fair value. 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 March 31, 2019 and December 31, 2018 . Fair Value Measurements Using (In thousands) Fair Value Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) March 31, 2019 Impaired loans (1) (2) (collateral dependent) $ 2,101 $ — $ — $ 2,101 Foreclosed assets and other real estate owned (1) 302 — — 302 December 31, 2018 Impaired loans (1) (2) (collateral dependent) $ 17,789 $ — $ — $ 17,789 Foreclosed assets and other real estate owned (1) 23,714 — — 23,714 ________________________ (1) These amounts represent the resulting carrying amounts on the Consolidated Balance Sheets for impaired collateral dependent loans and foreclosed assets and other real estate owned for which fair value re-measurements took place during the period. (2) Specific allocations of zero and $2,738,000 were related to the impaired collateral dependent loans for which fair value re-measurements took place during the periods ended March 31, 2019 and December 31, 2018 , respectively. ASC Topic 825, Financial Instruments , requires disclosure in annual and interim financial statements of the fair value of financial assets and financial liabilities, including those financial assets and financial liabilities that are not measured and reported at fair value on a recurring basis or nonrecurring basis. The following methods and assumptions were used to estimate the fair value of each class of financial instruments not previously disclosed. Cash and cash equivalents – The carrying amount for cash and cash equivalents approximates fair value (Level 1). Interest bearing balances due from banks – The fair value of interest bearing balances due from banks – time is estimated using a discounted cash flow calculation that applies the rates currently offered on deposits of similar remaining maturities (Level 2). Held-to-maturity securities – Fair values for held-to-maturity securities equal quoted market prices, if available, such as for highly liquid government bonds (Level 1). If quoted market prices are not available, fair values are estimated based on quoted market prices of similar securities. For these securities, the Company obtains fair value measurements from an independent pricing service. The fair value measurements consider observable data that may include dealer quotes, market spreads, cash flows, the U.S. Treasury yield curve, live trading levels, trade execution data, market consensus prepayment speeds, credit information and the security’s terms and conditions, among other things (Level 2). In certain cases where Level 1 or Level 2 inputs are not available, securities are classified within Level 3 of the hierarchy. Loans – The fair value of loans is estimated by discounting the future cash flows, using the current rates at which similar loans would be made to borrowers with similar credit ratings and for the same remaining maturities. Additional factors considered include the type of loan and related collateral, variable or fixed rate, classification status, remaining term, interest rate, historical delinquencies, loan to value ratios, current market rates and remaining loan balance. The loans were grouped together according to similar characteristics and were treated in the aggregate when applying various valuation techniques. The discount rates used for loans were based on current market rates for new originations of similar loans. Estimated credit losses were also factored into the projected cash flows of the loans. The fair value of loans is estimated on an exit price basis incorporating the above factors (Level 3). Deposits – The fair value of demand deposits, savings accounts and money market deposits is the amount payable on demand at the reporting date (i.e., their carrying amount) (Level 2). The fair value of fixed-maturity time deposits is estimated using a discounted cash flow calculation that applies the rates currently offered for deposits of similar remaining maturities (Level 3). Federal Funds purchased, securities sold under agreement to repurchase and short-term debt – The carrying amount for Federal funds purchased, securities sold under agreement to repurchase and short-term debt are a reasonable estimate of fair value (Level 2). Other borrowings – For short-term instruments, the carrying amount is a reasonable estimate of fair value. For long-term debt, rates currently available to the Company for debt with similar terms and remaining maturities are used to estimate the fair value (Level 2). Subordinated debentures – The fair value of subordinated debentures is estimated using the rates that would be charged for subordinated debentures of similar remaining maturities (Level 2). Accrued interest receivable/payable – The carrying amounts of accrued interest approximated fair value (Level 2). Commitments to extend credit, letters of credit and lines of credit – The fair value of commitments is estimated using the fees currently charged to enter into similar agreements, taking into account the remaining terms of the agreements and the present creditworthiness of the counterparties. For fixed rate loan commitments, fair value also considers the difference between current levels of interest rates and the committed rates. The fair values of letters of credit and lines of credit are based on fees currently charged for similar agreements or on the estimated cost to terminate or otherwise settle the obligations with the counterparties at the reporting date. 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 March 31, 2019 Financial assets: Cash and cash equivalents $ 491,161 $ 491,161 $ — $ — $ 491,161 Interest bearing balances due from banks - time 4,684 — 4,684 — 4,684 Held-to-maturity securities 61,435 — 61,956 — 61,956 Mortgage loans held for sale 18,480 — — 18,480 18,480 Interest receivable 51,796 — 51,796 — 51,796 Legacy loans, net 8,625,307 — — 8,539,036 8,539,036 Loans acquired, net 3,056,187 — — 3,025,619 3,025,619 Financial liabilities: Non-interest bearing transaction accounts 2,674,034 — 2,674,034 — 2,674,034 Interest bearing transaction accounts and savings deposits 6,666,823 — 6,666,823 — 6,666,823 Time deposits 2,648,674 — — 2,632,615 2,632,615 Federal funds purchased and securities sold under agreements to repurchase 120,213 — 120,213 — 120,213 Other borrowings 1,169,989 — 1,168,914 — 1,168,914 Subordinated notes and debentures 354,041 — 359,090 — 359,090 Interest payable 13,941 — 13,941 — 13,941 December 31, 2018 Financial assets: Cash and cash equivalents $ 833,458 $ 833,458 $ — $ — $ 833,458 Interest bearing balances due from banks - time 4,934 — 4,934 — 4,934 Held-to-maturity securities 289,194 — 290,830 — 290,830 Mortgage loans held for sale 26,799 — — 26,799 26,799 Interest receivable 49,938 — 49,938 — 49,938 Legacy loans, net 8,373,789 — — 8,280,690 8,280,690 Loans acquired, net 3,292,783 — — 3,256,174 3,256,174 Financial liabilities: Non-interest bearing transaction accounts 2,672,405 — 2,672,405 — 2,672,405 Interest bearing transaction accounts and savings deposits 6,830,191 — 6,830,191 — 6,830,191 Time deposits 2,896,156 — — 2,872,342 2,872,342 Federal funds purchased and securities sold under agreements to repurchase 95,792 — 95,792 — 95,792 Other borrowings 1,345,450 — 1,342,868 — 1,342,868 Subordinated debentures 353,950 — 355,812 — 355,812 Interest payable 9,897 — 9,897 — 9,897 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. |
Preparation of Interim Financ_2
Preparation of Interim Financial Statements (Policies) | 3 Months Ended |
Mar. 31, 2019 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Basis of Presentation | Basis of Presentation The accompanying unaudited consolidated financial statements have been prepared based upon Securities and Exchange Commission (“SEC”) rules that permit reduced disclosures for interim periods. Certain information and footnote disclosures have been condensed or omitted in accordance with those rules and regulations. The accompanying consolidated balance sheet as of December 31, 2018 , was derived from audited financial statements. In the opinion of management, these financial statements reflect all adjustments that are necessary for a fair presentation of interim results of operations, including normal recurring accruals. Significant intercompany accounts and transactions have been eliminated in consolidation. The results for the interim periods are not necessarily indicative of results for the full year. For a more complete discussion of significant accounting policies and certain other information, this report should be read in conjunction with the consolidated financial statements and accompanying notes included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2018 , which was filed with the SEC on February 27, 2019 . The preparation of financial statements, in accordance with accounting principles generally accepted in the United States (“US GAAP”), requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, income items and expenses and disclosure of contingent assets and liabilities. The estimates and assumptions used in the accompanying consolidated financial statements are based upon management’s evaluation of the relevant facts and circumstances as of the date of the consolidated financial statements and actual results may differ from these estimates. Such estimates include, but are not limited to, the Company’s allowance for loan losses. |
Reclassification | Certain prior year amounts have been reclassified to conform to the current year financial statement presentation. These changes and reclassifications did not impact previously reported net income or comprehensive income. |
Recently Adopted and Issued Accounting Standards | Recently Adopted Accounting Standards Cloud Computing Arrangements – In August 2018, the FASB issued ASU No. 2018-15, Intangibles-Goodwill and Other-Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That is a Service Contract (“ASU 2018-15”), that amends the definition of a hosting arrangement and requires a customer in a hosting arrangement that is a service contract to capitalize certain implementation costs as if the arrangement was an internal-use software project. The internal-use software guidance states that only qualifying costs incurred during the application development stage can be capitalized. The effective date is for fiscal years beginning after December 15, 2019, and interim periods within those fiscal years, with early adoption permitted. Entities have the option to apply the guidance prospectively to all implementation costs incurred after the date of adoption or retrospectively in accordance with the applicable guidance. At the time of adoption, entities will be required to disclose the nature of its hosting arrangements that are service contracts and provide disclosures as if the deferred implementation costs were a separate, major depreciable asset class. The Company early adopted ASU 2018-15 in the first quarter 2019 and elected to apply the guidance prospectively to all software implementation costs incurred after the date of adoption. As of March 31, 2019 , no applicable software implementation costs have been incurred. Derivatives and Hedging: Targeted Improvements - In August 2017, the FASB issued ASU No. 2017-12, Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities (“ASU 2017-12”), that changes both the designation and measurement guidance for qualifying hedging relationships and the presentation of hedge results in order to better align a company’s risk management activities and financial reporting for hedging relationships. In summary, this amendment 1) expands the types of transactions eligible for hedge accounting; 2) eliminates the separate measurement and presentation of hedge ineffectiveness; 3) simplifies the requirements around the assessment of hedge effectiveness; 4) provides companies more time to finalize hedge documentation; and 5) enhances presentation and disclosure requirements. The effective date is for fiscal years beginning after December 15, 2018, and interim periods within those fiscal years, with early adoption permitted. All transition requirements and elections should be applied to existing hedging relationships on the date of adoption and the effects should be reflected as of the beginning of the fiscal year of adoption. As part of this new guidance, entities are allowed to designate as the hedged item, an amount that is not expected to be affected by prepayments, defaults or other events affecting the timing and amount of cash flows in a closed portfolio of prepayable financial instruments (this is referred to as the “last-of-layer” method). Under the last-of-layer method, entities are able to reclassify, only at the time of adoption, eligible callable debt securities from held-to-maturity to available-for-sale without tainting its intentions to hold future debt securities to maturity. The available-for-sale security must be reported at fair value and any unrealized gain or loss must be recorded as an adjustment to other comprehensive income upon adoption. The Company evaluated its held-to-maturity portfolio during the first quarter 2019 and identified certain municipal bonds with a fair value of $216.4 million that met the last-of-layer criteria under ASU 2017-12 and as a result, reclassified those to available-for-sale and recorded an unrealized gain of $2.5 million during the first quarter 2019. Leases - In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842) (“ASU 2016-02”), that establishes the principles to report transparent and economically neutral information about the assets and liabilities that arise from leases. The new guidance results in a more consistent representation of the rights and obligations arising from leases by requiring lessees to recognize the lease asset and lease liabilities that arise from leases in the statement of financial position and to disclose qualitative and quantitative information about lease transactions, such as information about variable lease payments and options to renew and terminate leases. The effective date is for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. ASU 2016-02 requires entities to adopt the new lease standard using a modified retrospective transition method, meaning an entity initially applies the new lease standard at the beginning of the earliest period presented in the financial statements. Due to complexities associated with using this method, in July 2018, the FASB issued ASU No. 2018-11, Leases (Topic 842): Targeted Improvements , to relieve entities of the requirement to present prior comparative years’ results when they adopt the new lease standard and giving entities the option to recognize the cumulative effect of applying the new standard as an adjustment to the opening balance of retained earnings. Adoption of ASU 2016-02 resulted in the recognition of right-of-use assets of $32.8 million and right-of-use liabilities of $32.8 million on the statement of financial position with no material impact to the results of operations. The Company has elected to adopt the guidance using the optional transition method, which allows for a modified retrospective method of adoption with a cumulative effect adjustment to retained earnings without restating comparable periods. The Company also elected the relief package of practical expedients for which there is no requirement to reassess existence of leases, their classification, and initial direct costs as well as an exemption for short-term leases with a term of less than one year, whereby the Company did not recognize a lease liability or right-of-use asset on the statement of financial position but instead will recognize lease payments as an expense over the lease term as appropriate. See Note 6 for additional information related to the Company’s right-of-use lease obligations. Recently Issued Accounting Standards Fair Value Measurement Disclosures – In August 2018, the FASB issued ASU No. 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework-Changes to the Disclosure Requirements for Fair Value Measurement (“ASU 2018-13”), that eliminates, amends and adds disclosure requirements for fair value measurements. These amendments are part of FASB’s disclosure review project and they are expected to reduce costs for preparers while providing more decision-useful information for financial statement users. The eliminated disclosure requirements include the 1) the amount of, and reasons for, transfers between Level 1 and Level 2 of the fair value hierarchy; 2) the policy of timing of transfers between levels of the fair value hierarchy; and 3) the valuation processes for Level 3 fair value measurements. Among other modifications, the amended disclosure requirements remove the term “at a minimum” from the phrase “an entity shall disclose at a minimum” to promote the appropriate exercise of discretion by entities and clarifies that the measurement uncertainty disclosure is to communicate information about the uncertainty in measurement as of the reporting date. Under the new disclosure requirements, entities must disclose the changes in unrealized gains or losses included in other comprehensive income for recurring Level 3 fair value measurements held at the end of the reporting period and the range and weighted average used to develop significant unobservable inputs for Level 3 fair value measurements. ASU 2018-13 is effective for fiscal years beginning after December 15, 2019, and interim periods within those fiscal years, with early adoption permitted. The Company is currently evaluating the impact this standard will have on its fair value disclosures. Goodwill Impairment – In January 2017, the FASB issued ASU No. 2017-04, Intangibles – Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment (“ASU 2017-04”), that eliminates Step 2 from the goodwill impairment test which required entities to compare the implied fair value of goodwill to its carrying amount. Under the amendments, the goodwill impairment will be measured as the excess of the reporting unit’s carrying amount over its fair value. An impairment charge should be recognized for the amount by which the carrying amount exceeds the reporting unit’s fair value; however, the loss recognized should not exceed the total amount of goodwill allocated to that reporting unit. The effective date is for fiscal years beginning after December 15, 2019, with early adoption permitted for interim or annual impairment tests beginning in 2017. The Company will early adopt ASU 2017-04 during the second quarter 2019 to coincide with the Company’s formal impairment analysis and it is not expected to have a material effect on the Company’s results of operations, financial position or disclosures. Credit Losses on Financial Instruments – In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments (“ASU 2016-13”), which requires earlier measurement of credit losses, expands the range of information considered in determining expected credit losses and enhances disclosures. The main objective of ASU 2016-13 is to provide financial statement users with more decision-useful information about the expected credit losses on financial instruments and other commitments to extend credit held by a reporting entity at each reporting date. The amendments replace the incurred loss impairment methodology in current US GAAP with a methodology that reflects expected credit losses and requires consideration of a broader range of reasonable and supportable information to inform credit loss estimates. The effective date for these amendments is for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. The Company has formed a cross functional team that continues to assess its data and system needs and evaluate the potential impact of adopting the new guidance. The Company anticipates a significant change in the processes and procedures to calculate the loan losses, including changes in assumptions and estimates to consider expected credit losses over the life of the loan versus the current accounting practice that utilizes the incurred loss model. In December 2018, the Federal Reserve, Office of the Comptroller of the Currency and Federal Deposit Insurance Corporation issued a final rule revising regulatory capital rules in anticipation of the adoption of ASU 2016-13 that provides an option to phase in the day-one impact on earnings and tier one capital. Due to this final rule from the regulatory agencies, the Company is continuing to research and study options for recording a one-time adjustment or structuring any capital impact over an allowable period of time. The Company has not yet determined the magnitude of any such adjustment or the overall impact on its results of operations, financial position or disclosures. However, the Company is continuing its efforts in developing processes and procedures to ensure it is fully compliant at the required adoption date. Among other things, the Company continues to gather data and develop forecast models for asset quality, loan balances, and portfolio net charge-offs and is working with the selected model vendor to produce parallel calculations through the year leading up to implementation. Model inputs began in the fourth quarter 2018 with additional inputs and scenarios to be modeled throughout 2019 with focus on calculating a potential range of financial impact. There have been no other significant changes to the Company’s accounting policies from the 2018 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 its present or future financial position or results of operations. |
Acquisition Accounting, Loans Acquired | The Company accounts for its acquisitions under ASC Topic 805, Business Combinations , which requires the use of the acquisition method of accounting. All identifiable assets acquired, including loans, are recorded at fair value. No allowance for loan losses related to the loans acquired is recorded on the acquisition date as the fair value of the loans acquired incorporates assumptions regarding credit risk. Loans acquired are recorded at fair value in accordance with the fair value methodology prescribed in ASC Topic 820, Fair Value Measurement . The fair value estimates associated with the loans include estimates related to expected prepayments and the amount and timing of undiscounted expected principal, interest and other cash flows. The Company evaluates non-impaired loans acquired in accordance with the provisions of ASC Topic 310-20, Nonrefundable Fees and Other Costs . The fair value discount on these loans is accreted into interest income over the weighted average life of the loans using a constant yield method. The Company evaluates purchased impaired loans in accordance with the provisions of ASC Topic 310-30, Loans and Debt Securities Acquired with Deteriorated Credit Quality . Purchased loans are considered impaired if there is evidence of credit deterioration since origination and if it is probable that not all contractually required payments will be collected. For impaired loans accounted for under ASC Topic 310-30, the Company continues to estimate cash flows expected to be collected on purchased credit impaired loans. The Company evaluates, at each balance sheet date, whether the present value of the purchased credit impaired loans determined using the effective interest rates has decreased significantly and if so, recognize a provision for loan loss in the 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 purchased credit impaired loan. |
Income Taxes | The Company follows ASC Topic 740, Income Taxes , which prescribes a recognition threshold and a measurement attribute for the financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. Benefits from tax positions should be recognized in the financial statements only when it is more likely than not that the tax position will be sustained upon examination by the appropriate taxing authority that would have full knowledge of all relevant information. A tax position that meets the more-likely-than-not recognition threshold is measured at the largest amount of benefit that is greater than fifty percent likely of being realized upon ultimate settlement. Tax positions that previously failed to meet the more-likely-than-not recognition threshold should be recognized in the first subsequent financial reporting period in which that threshold is met. Previously recognized tax positions that no longer meet the more-likely-than-not recognition threshold should be derecognized in the first subsequent financial reporting period in which that threshold is no longer met. ASC Topic 740 also provides guidance on the accounting for and disclosure of unrecognized tax benefits, interest and penalties. The Company has no history of expiring net operating loss carryforwards and is projecting significant pre-tax and financial taxable income in 2019 and in future years. The Company expects to fully realize its deferred tax assets in the future. |
Investment Securities (Tables)
Investment Securities (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
Investments, Debt and Equity Securities [Abstract] | |
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: March 31, 2019 December 31, 2018 (In thousands) Amortized Cost Gross Unrealized Gains Gross Unrealized (Losses) Estimated Fair Value Amortized Cost Gross Unrealized Gains Gross Unrealized (Losses) Estimated Fair Value Held-to-Maturity U.S. Government agencies $ 12,996 $ — $ (9 ) $ 12,987 $ 16,990 $ — $ (49 ) $ 16,941 Mortgage-backed securities 12,847 10 (240 ) 12,617 13,346 5 (412 ) 12,939 State and political subdivisions 33,597 751 (27 ) 34,321 256,863 3,029 (954 ) 258,938 Other securities 1,995 36 — 2,031 1,995 17 — 2,012 Total HTM $ 61,435 $ 797 $ (276 ) $ 61,956 $ 289,194 $ 3,051 $ (1,415 ) $ 290,830 Available-for-Sale U.S. Government agencies $ 163,730 $ 596 $ (2,749 ) $ 161,577 $ 157,523 $ 518 $ (3,740 ) $ 154,301 Mortgage-backed securities 1,362,950 2,569 (19,842 ) 1,345,677 1,552,487 3,097 (32,684 ) 1,522,900 State and political subdivisions 571,716 10,307 (1,233 ) 580,790 320,142 171 (5,470 ) 314,843 Other securities 151,707 437 (77 ) 152,067 157,471 2,251 (14 ) 159,708 Total AFS $ 2,250,103 $ 13,909 $ (23,901 ) $ 2,240,111 $ 2,187,623 $ 6,037 $ (41,908 ) $ 2,151,752 |
Gross Unrealized Losses and Fair Value of Investments | 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 March 31, 2019 : Less Than 12 Months 12 Months or More Total (In thousands) Estimated Fair Value Gross Unrealized Losses Estimated Fair Value Gross Unrealized Losses Estimated Fair Value Gross Unrealized Losses Held-to-Maturity U.S. Government agencies $ — $ — $ 12,987 $ (9 ) $ 12,987 $ (9 ) Mortgage-backed securities 487 (1 ) 9,994 (239 ) 10,481 (240 ) State and political subdivisions 80 (1 ) 4,881 (26 ) 4,961 (27 ) Total HTM $ 567 $ (2 ) $ 27,862 $ (274 ) $ 28,429 $ (276 ) Available-for-Sale U.S. Government agencies $ 5,583 $ (30 ) $ 124,129 $ (2,719 ) $ 129,712 $ (2,749 ) Mortgage-backed securities 40,444 (248 ) 1,086,169 (19,594 ) 1,126,613 (19,842 ) State and political subdivisions 1,016 (4 ) 92,894 (1,229 ) 93,910 (1,233 ) Other securities 5,029 (76 ) 100 (1 ) 5,129 (77 ) Total AFS $ 52,072 $ (358 ) $ 1,303,292 $ (23,543 ) $ 1,355,364 $ (23,901 ) |
Income Earned on Securities | Income earned on securities for the three months ended March 31, 2019 and 2018 , is as follows: (In thousands) 2019 2018 Taxable: Held-to-maturity $ 438 $ 567 Available-for-sale 12,551 9,032 Non-taxable: Held-to-maturity 1,162 1,936 Available-for-sale 3,161 1,087 Total $ 17,312 $ 12,622 |
Amortized Cost and Estimated Fair Value by Maturity of Securities | The amortized cost and estimated fair value by maturity of securities are shown in the following table. Securities are classified according to their contractual maturities without consideration of principal amortization, potential prepayments or call options. Accordingly, actual maturities may differ from contractual maturities. Held-to-Maturity Available-for-Sale (In thousands) Amortized Cost Fair Value Amortized Cost Fair Value One year or less $ 18,407 $ 18,397 $ 7,375 $ 7,372 After one through five years 20,419 20,624 74,428 74,208 After five through ten years 5,564 5,691 123,088 124,101 After ten years 4,198 4,627 535,761 541,815 Securities not due on a single maturity date 12,847 12,617 1,362,950 1,345,677 Other securities (no maturity) — — 146,501 146,938 Total $ 61,435 $ 61,956 $ 2,250,103 $ 2,240,111 |
Loans and Allowance for Loan _2
Loans and Allowance for Loan Losses (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
Receivables [Abstract] | |
Loan Portfolio | The various categories of loans are summarized as follows: (In thousands) March 31, 2019 December 31, 2018 Consumer: Credit cards $ 181,549 $ 204,173 Other consumer 213,659 201,297 Total consumer 395,208 405,470 Real Estate: Construction 1,376,162 1,300,723 Single family residential 1,431,407 1,440,443 Other commercial 3,355,109 3,225,287 Total real estate 6,162,678 5,966,453 Commercial: Commercial 1,801,422 1,774,909 Agricultural 147,216 164,514 Total commercial 1,948,638 1,939,423 Other 178,026 119,042 Loans 8,684,550 8,430,388 Loans acquired, net of discount and allowance (1) 3,056,187 3,292,783 Total loans $ 11,740,737 $ 11,723,171 _____________________________ (1) See Note 5, Loans Acquired, for segregation of loans acquired by loan class. Changes in the carrying amount of the accretable yield for all purchased impaired loans were as follows for the three months ended March 31, 2019 and 2018 . Three Months Ended Three Months Ended (In thousands) Accretable Yield Carrying Amount of Loans Accretable Yield Carrying Amount of Loans Beginning balance $ 1,460 $ 4,050 $ 620 $ 17,116 Additions — — — — Accretable yield adjustments 17 — 1,134 — Accretion (9 ) 9 (385 ) 385 Payments and other reductions, net — (408 ) — 104 Balance, ending $ 1,468 $ 3,651 $ 1,369 $ 17,605 he following table reflects the carrying value of all loans acquired as of March 31, 2019 and December 31, 2018 : Loans Acquired (In thousands) March 31, 2019 December 31, 2018 Consumer: Other consumer $ 11,979 $ 15,658 Real estate: Construction 404,512 429,605 Single family residential 533,917 566,188 Other commercial 1,730,472 1,848,679 Total real estate 2,668,901 2,844,472 Commercial: Commercial 374,033 430,914 Agricultural 1,274 1,739 Total commercial 375,307 432,653 Total loans acquired (1) $ 3,056,187 $ 3,292,783 ________________________ (1) Loans acquired are reported net of a $1,312,000 and $95,000 allowance at March 31, 2019 and December 31, 2018 , respectively. |
Nonaccrual Loans | Nonaccrual loans, excluding loans acquired, segregated by class of loans, are as follows: (In thousands) March 31, 2019 December 31, 2018 Consumer: Credit cards $ 338 $ 296 Other consumer 1,555 2,159 Total consumer 1,893 2,455 Real estate: Construction 2,570 1,269 Single family residential 15,324 11,939 Other commercial 8,612 7,205 Total real estate 26,506 20,413 Commercial: Commercial 31,409 10,049 Agricultural 1,117 1,284 Total commercial 32,526 11,333 Total $ 60,925 $ 34,201 Nonaccrual loans acquired, excluding purchased credit impaired loans accounted for under ASC Topic 310-30, segregated by class of loans, are as follows (see Note 4, Loans and Allowance for Loan Losses, for discussion of nonaccrual loans): (In thousands) March 31, 2019 December 31, 2018 Consumer: Other consumer $ 149 $ 140 Real estate: Construction 130 114 Single family residential 6,342 6,603 Other commercial 8,973 1,167 Total real estate 15,445 7,884 Commercial: Commercial 3,117 13,578 Agricultural 20 38 Total commercial 3,137 13,616 Total $ 18,731 $ 21,640 |
Past Due Loans | An age analysis of past due loans, excluding loans acquired, segregated by class of loans, is as follows: (In thousands) Gross 30-89 Days Past Due 90 Days or More Past Due Total Past Due Current Total Loans 90 Days Past Due & Accruing March 31, 2019 Consumer: Credit cards $ 733 $ 561 $ 1,294 $ 180,255 $ 181,549 $ 222 Other consumer 3,018 489 3,507 210,152 213,659 52 Total consumer 3,751 1,050 4,801 390,407 395,208 274 Real estate: Construction 961 909 1,870 1,374,292 1,376,162 — Single family residential 10,226 5,491 15,717 1,415,690 1,431,407 7 Other commercial 4,384 4,652 9,036 3,346,073 3,355,109 — Total real estate 15,571 11,052 26,623 6,136,055 6,162,678 7 Commercial: Commercial 6,845 8,611 15,456 1,785,966 1,801,422 — Agricultural 202 954 1,156 146,060 147,216 — Total commercial 7,047 9,565 16,612 1,932,026 1,948,638 — Other — — — 178,026 178,026 — Total $ 26,369 $ 21,667 $ 48,036 $ 8,636,514 $ 8,684,550 $ 281 December 31, 2018 Consumer: Credit cards $ 1,033 $ 506 $ 1,539 $ 202,634 $ 204,173 $ 209 Other consumer 4,264 896 5,160 196,137 201,297 4 Total consumer 5,297 1,402 6,699 398,771 405,470 213 Real estate: Construction 533 308 841 1,299,882 1,300,723 — Single family residential 7,769 4,127 11,896 1,428,547 1,440,443 — Other commercial 3,379 2,773 6,152 3,219,135 3,225,287 — Total real estate 11,681 7,208 18,889 5,947,564 5,966,453 — Commercial: Commercial 4,472 5,105 9,577 1,765,332 1,774,909 11 Agricultural 467 1,055 1,522 162,992 164,514 — Total commercial 4,939 6,160 11,099 1,928,324 1,939,423 11 Other — — — 119,042 119,042 — Total $ 21,917 $ 14,770 $ 36,687 $ 8,393,701 $ 8,430,388 $ 224 An age analysis of past due loans acquired 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 30-89 Days Past Due 90 Days or More Past Due Total Past Due Current Total Loans 90 Days Past Due & Accruing March 31, 2019 Consumer: Other consumer $ 94 $ 77 $ 171 $ 11,808 $ 11,979 $ — Real estate: Construction 5 8,122 8,127 396,385 404,512 — Single family residential 5,058 2,583 7,641 526,276 533,917 24 Other commercial 305 8,267 8,572 1,721,900 1,730,472 — Total real estate 5,368 18,972 24,340 2,644,561 2,668,901 24 Commercial: Commercial 7,265 6,673 13,938 360,095 374,033 — Agricultural — — — 1,274 1,274 — Total commercial 7,265 6,673 13,938 361,369 375,307 — Total $ 12,727 $ 25,722 $ 38,449 $ 3,017,738 $ 3,056,187 $ 24 (In thousands) Gross 30-89 Days Past Due 90 Days or More Past Due Total Past Due Current Total Loans 90 Days Past Due & Accruing December 31, 2018 Consumer: Other consumer $ 337 $ 49 $ 386 $ 15,272 $ 15,658 $ 2 Real estate: Construction 8,283 27 8,310 421,295 429,605 — Single family residential 4,706 3,049 7,755 558,433 566,188 — Other commercial 168 577 745 1,847,934 1,848,679 — Total real estate 13,157 3,653 16,810 2,827,662 2,844,472 — Commercial: Commercial 1,302 9,542 10,844 420,070 430,914 — Agricultural 31 5 36 1,703 1,739 — Total commercial 1,333 9,547 10,880 421,773 432,653 — Total $ 14,827 $ 13,249 $ 28,076 $ 3,264,707 $ 3,292,783 $ 2 |
Impaired Loans | 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 March 31, 2019 Three Months Ended Consumer: Credit cards $ 338 $ 338 $ — $ 338 $ — $ 317 $ 30 Other consumer 1,699 1,555 — 1,555 — 1,857 13 Total consumer 2,037 1,893 — 1,893 — 2,174 43 Real estate: Construction 2,648 2,090 480 2,570 237 1,920 14 Single family residential 16,379 11,891 3,432 15,323 38 13,703 98 Other commercial 14,279 3,882 3,201 7,083 137 8,992 64 Total real estate 33,306 17,863 7,113 24,976 412 24,615 176 Commercial: Commercial 38,420 6,268 23,327 29,595 108 20,739 148 Agricultural 2,215 583 532 1,115 1 1,147 8 Total commercial 40,635 6,851 23,859 30,710 109 21,886 156 Total $ 75,978 $ 26,607 $ 30,972 $ 57,579 $ 521 $ 48,675 $ 375 December 31, 2018 Three Months Ended Consumer: Credit cards $ 296 $ 296 $ — $ 296 $ — $ 234 $ 15 Other consumer 2,311 2,159 — 2,159 — 4,658 34 Total consumer 2,607 2,455 — 2,455 — 4,892 49 Real estate: Construction 1,344 784 485 1,269 211 2,082 16 Single family residential 12,906 11,468 616 12,084 36 13,523 100 Other commercial 8,434 5,442 5,458 10,900 — 16,287 120 Total real estate 22,684 17,694 6,559 24,253 247 31,892 236 Commercial: Commercial 10,361 7,254 4,628 11,882 437 7,226 53 Agricultural 2,419 1,180 — 1,180 — 1,586 12 Total commercial 12,780 8,434 4,628 13,062 437 8,812 65 Total $ 38,071 $ 28,583 $ 11,187 $ 39,770 $ 684 $ 45,596 $ 350 |
Troubled Debt Restructuring | 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 March 31, 2019 Real estate: Construction — $ — 3 $ 480 3 $ 480 Single-family residential 6 227 9 593 15 820 Other commercial 2 3,250 2 1,003 4 4,253 Total real estate 8 3,477 14 2,076 22 5,553 Commercial: Commercial 4 2,820 5 427 9 3,247 Total commercial 4 2,820 5 427 9 3,247 Total 12 $ 6,297 19 $ 2,503 31 $ 8,800 December 31, 2018 Real estate: Construction — $ — 3 $ 485 3 $ 485 Single-family residential 6 230 10 616 16 846 Other commercial 2 3,306 2 1,027 4 4,333 Total real estate 8 3,536 15 2,128 23 5,664 Commercial: Commercial 4 2,833 6 718 10 3,551 Total commercial 4 2,833 6 718 10 3,551 Total 12 $ 6,369 21 $ 2,846 33 $ 9,215 There were no loans restructured as TDRs during the three months ended March 31, 2019 . The following table presents loans that were restructured as TDRs during the three months ended March 31, 2018 , excluding loans acquired, segregated by class of loans. Modification Type (Dollars in thousands) Number of Loans Balance Prior to TDR Balance at March 31, Change in Maturity Date Change in Rate Financial Impact on Date of Restructure Three Months Ended March 31, 2018 Consumer: Other consumer 1 $ 91 $ 91 $ 91 $ — $ — Total consumer 1 91 91 91 — — Real estate: Single-family residential 1 61 62 62 — — Total real estate 1 61 62 62 — — Total 2 $ 152 $ 153 $ 153 $ — $ — |
Loans by Credit Risk Ratings | The following table presents a summary of loans by credit risk rating as of March 31, 2019 and December 31, 2018 , 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 1-4 Risk Rate 5 Risk Rate 6 Risk Rate 7 Risk Rate 8 Total March 31, 2019 Consumer: Credit cards $ 180,988 $ — $ 561 $ — $ — $ 181,549 Other consumer 211,642 — 2,017 — — 213,659 Total consumer 392,630 — 2,578 — — 395,208 Real estate: Construction 1,372,113 443 3,606 — — 1,376,162 Single family residential 1,407,554 1,784 21,839 230 — 1,431,407 Other commercial 3,313,139 21,629 20,341 — — 3,355,109 Total real estate 6,092,806 23,856 45,786 230 — 6,162,678 Commercial: Commercial 1,745,162 9,671 46,589 — — 1,801,422 Agricultural 145,828 67 1,321 — — 147,216 Total commercial 1,890,990 9,738 47,910 — — 1,948,638 Other 178,026 — — — — 178,026 Loans acquired 2,930,179 45,157 80,515 336 — 3,056,187 Total $ 11,484,631 $ 78,751 $ 176,789 $ 566 $ — $ 11,740,737 (In thousands) Risk Rate 1-4 Risk Rate 5 Risk Rate 6 Risk Rate 7 Risk Rate 8 Total December 31, 2018 Consumer: Credit cards $ 203,667 $ — $ 506 $ — $ — $ 204,173 Other consumer 198,840 — 2,457 — — 201,297 Total consumer 402,507 — 2,963 — — 405,470 Real estate: Construction 1,296,988 1,910 1,825 — — 1,300,723 Single family residential 1,420,052 1,628 18,528 235 — 1,440,443 Other commercial 3,193,289 17,169 14,829 — — 3,225,287 Total real estate 5,910,329 20,707 35,182 235 — 5,966,453 Commercial: Commercial 1,742,002 8,357 24,550 — — 1,774,909 Agricultural 162,824 75 1,615 — — 164,514 Total commercial 1,904,826 8,432 26,165 — — 1,939,423 Other 119,042 — — — — 119,042 Loans acquired 3,187,083 51,255 54,097 348 — 3,292,783 Total $ 11,523,787 $ 80,394 $ 118,407 $ 583 $ — $ 11,723,171 The following table presents a summary of loans acquired 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 1-4 Risk Rate 5 Risk Rate 6 Risk Rate 7 Risk Rate 8 Total March 31, 2019 Consumer: Other consumer $ 11,715 $ — $ 264 $ — $ — $ 11,979 Real estate: Construction 369,267 27,475 7,770 — — 404,512 Single family residential 520,159 2,049 11,373 336 — 533,917 Other commercial 1,675,051 11,894 43,527 — — 1,730,472 Total real estate 2,564,477 41,418 62,670 336 — 2,668,901 Commercial: Commercial 352,779 3,739 17,515 — — 374,033 Agricultural 1,208 — 66 — — 1,274 Total commercial 353,987 3,739 17,581 — — 375,307 Total $ 2,930,179 $ 45,157 $ 80,515 $ 336 $ — $ 3,056,187 (In thousands) Risk Rate 1-4 Risk Rate 5 Risk Rate 6 Risk Rate 7 Risk Rate 8 Total December 31, 2018 Consumer: Other consumer $ 15,380 $ — $ 278 $ — $ — $ 15,658 Real estate: Construction 393,122 27,621 8,862 — — 429,605 Single family residential 553,460 2,081 10,299 348 — 566,188 Other commercial 1,822,179 9,137 17,363 — — 1,848,679 Total real estate 2,768,761 38,839 36,524 348 — 2,844,472 Commercial: Commercial 401,300 12,416 17,198 — — 430,914 Agricultural 1,642 — 97 — — 1,739 Total commercial 402,942 12,416 17,295 — — 432,653 Total $ 3,187,083 $ 51,255 $ 54,097 $ 348 $ — $ 3,292,783 |
Allowance for Loan Losses | The following table details activity in the allowance for loan losses by portfolio segment for legacy loans for the three months ended March 31, 2019 . 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 Estate Credit Card Other Consumer and Other Total Three Months Ended March 31, 2019 Balance, beginning of period (2) $ 20,514 $ 29,743 $ 3,923 $ 2,419 $ 56,599 Provision for loan losses (1) 1,874 2,843 898 1,206 6,821 Charge-offs (1,968 ) (374 ) (1,142 ) (1,533 ) (5,017 ) Recoveries 158 142 240 300 840 Net charge-offs (1,810 ) (232 ) (902 ) (1,233 ) (4,177 ) Balance, March 31, 2019 (2) $ 20,578 $ 32,354 $ 3,919 $ 2,392 $ 59,243 Period-end amount allocated to: Loans individually evaluated for impairment $ 109 $ 412 $ — $ — $ 521 Loans collectively evaluated for impairment 20,469 31,942 3,919 2,392 58,722 Balance, March 31, 2019 (2) $ 20,578 $ 32,354 $ 3,919 $ 2,392 $ 59,243 Activity in the allowance for loan losses for the three months ended March 31, 2018 was as follows: (In thousands) Commercial Real Estate Credit Card Other Consumer and Other Total Three Months Ended March 31, 2018 Balance, beginning of period (3) $ 7,007 $ 27,281 $ 3,784 $ 3,596 $ 41,668 Provision for loan losses (1) 4,286 3,286 751 759 9,082 Charge-offs (1,761 ) (455 ) (999 ) (1,056 ) (4,271 ) Recoveries 69 302 263 94 728 Net charge-offs (1,692 ) (153 ) (736 ) (962 ) (3,543 ) Balance, March 31, 2018 (2) $ 9,601 $ 30,414 $ 3,799 $ 3,393 $ 47,207 Period-end amount allocated to: Loans individually evaluated for impairment $ 18 $ 426 $ — $ — $ 444 Loans collectively evaluated for impairment 9,583 29,988 3,799 3,393 46,763 Balance, March 31, 2018 (2) $ 9,601 $ 30,414 $ 3,799 $ 3,393 $ 47,207 Period-end amount allocated to: Loans individually evaluated for impairment $ 437 $ 247 $ — $ — $ 684 Loans collectively evaluated for impairment 20,077 29,496 3,923 2,419 55,915 Balance, December 31, 2018 (2) $ 20,514 $ 29,743 $ 3,923 $ 2,419 $ 56,599 ______________________ (1) Provision for loan losses of $2,464,000 attributable to loans acquired was excluded from this table for the three months ended March 31, 2019 (total provision for loan losses for the three months ended March 31, 2019 was $9,285,000 ). There were $1,247,000 in charge-offs for loans acquired during the three months ended March 31, 2019 , resulting in an ending balance in the allowance related to loans acquired of $1,312,000 . Provision for loan losses of $68,000 attributable to loans acquired was excluded from this table for the three months ended March 31, 2018 (total provision for loan losses for the three months ended March 31, 2018 was $9,150,000 ). There were $79,000 in charge-offs for loans acquired during the three months ended March 31, 2018 , resulting in an ending balance in the allowance related to loans acquired of $407,000 . (2) Allowance for loan losses at March 31, 2019 includes $1,312,000 allowance for loans acquired (not shown in the table above). Allowance for loan losses at December 31, 2018 and March 31, 2018 includes $95,000 and $407,000 , respectively, of allowance for loans acquired (not shown in the table above). The total allowance for loan losses at March 31, 2019 was $60,555,000 and total allowance for loan losses at December 31, 2018 and March 31, 2018 was $56,694,000 and $47,614,000 , respectively. (3) Allowance for loan losses at December 31, 2017 includes $418,000 allowance for loans acquired (not shown in the table above). The total allowance for loan losses at December 31, 2017 was $42,086,000 . 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 Estate Credit Card Other Consumer and Other Total March 31, 2019 Loans individually evaluated for impairment $ 30,710 $ 24,976 $ 338 $ 1,555 $ 57,579 Loans collectively evaluated for impairment 1,917,928 6,137,702 181,211 390,130 8,626,971 Balance, end of period $ 1,948,638 $ 6,162,678 $ 181,549 $ 391,685 $ 8,684,550 December 31, 2018 Loans individually evaluated for impairment $ 13,062 $ 24,253 $ 296 $ 2,159 $ 39,770 Loans collectively evaluated for impairment 1,926,361 5,942,200 203,877 318,180 8,390,618 Balance, end of period $ 1,939,423 $ 5,966,453 $ 204,173 $ 320,339 $ 8,430,388 |
Loans Acquired (Tables)
Loans Acquired (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
Receivables [Abstract] | |
Loans Acquired | The various categories of loans are summarized as follows: (In thousands) March 31, 2019 December 31, 2018 Consumer: Credit cards $ 181,549 $ 204,173 Other consumer 213,659 201,297 Total consumer 395,208 405,470 Real Estate: Construction 1,376,162 1,300,723 Single family residential 1,431,407 1,440,443 Other commercial 3,355,109 3,225,287 Total real estate 6,162,678 5,966,453 Commercial: Commercial 1,801,422 1,774,909 Agricultural 147,216 164,514 Total commercial 1,948,638 1,939,423 Other 178,026 119,042 Loans 8,684,550 8,430,388 Loans acquired, net of discount and allowance (1) 3,056,187 3,292,783 Total loans $ 11,740,737 $ 11,723,171 _____________________________ (1) See Note 5, Loans Acquired, for segregation of loans acquired by loan class. Changes in the carrying amount of the accretable yield for all purchased impaired loans were as follows for the three months ended March 31, 2019 and 2018 . Three Months Ended Three Months Ended (In thousands) Accretable Yield Carrying Amount of Loans Accretable Yield Carrying Amount of Loans Beginning balance $ 1,460 $ 4,050 $ 620 $ 17,116 Additions — — — — Accretable yield adjustments 17 — 1,134 — Accretion (9 ) 9 (385 ) 385 Payments and other reductions, net — (408 ) — 104 Balance, ending $ 1,468 $ 3,651 $ 1,369 $ 17,605 he following table reflects the carrying value of all loans acquired as of March 31, 2019 and December 31, 2018 : Loans Acquired (In thousands) March 31, 2019 December 31, 2018 Consumer: Other consumer $ 11,979 $ 15,658 Real estate: Construction 404,512 429,605 Single family residential 533,917 566,188 Other commercial 1,730,472 1,848,679 Total real estate 2,668,901 2,844,472 Commercial: Commercial 374,033 430,914 Agricultural 1,274 1,739 Total commercial 375,307 432,653 Total loans acquired (1) $ 3,056,187 $ 3,292,783 ________________________ (1) Loans acquired are reported net of a $1,312,000 and $95,000 allowance at March 31, 2019 and December 31, 2018 , respectively. |
Nonaccrual Loans | Nonaccrual loans, excluding loans acquired, segregated by class of loans, are as follows: (In thousands) March 31, 2019 December 31, 2018 Consumer: Credit cards $ 338 $ 296 Other consumer 1,555 2,159 Total consumer 1,893 2,455 Real estate: Construction 2,570 1,269 Single family residential 15,324 11,939 Other commercial 8,612 7,205 Total real estate 26,506 20,413 Commercial: Commercial 31,409 10,049 Agricultural 1,117 1,284 Total commercial 32,526 11,333 Total $ 60,925 $ 34,201 Nonaccrual loans acquired, excluding purchased credit impaired loans accounted for under ASC Topic 310-30, segregated by class of loans, are as follows (see Note 4, Loans and Allowance for Loan Losses, for discussion of nonaccrual loans): (In thousands) March 31, 2019 December 31, 2018 Consumer: Other consumer $ 149 $ 140 Real estate: Construction 130 114 Single family residential 6,342 6,603 Other commercial 8,973 1,167 Total real estate 15,445 7,884 Commercial: Commercial 3,117 13,578 Agricultural 20 38 Total commercial 3,137 13,616 Total $ 18,731 $ 21,640 |
Past Due Loans | An age analysis of past due loans, excluding loans acquired, segregated by class of loans, is as follows: (In thousands) Gross 30-89 Days Past Due 90 Days or More Past Due Total Past Due Current Total Loans 90 Days Past Due & Accruing March 31, 2019 Consumer: Credit cards $ 733 $ 561 $ 1,294 $ 180,255 $ 181,549 $ 222 Other consumer 3,018 489 3,507 210,152 213,659 52 Total consumer 3,751 1,050 4,801 390,407 395,208 274 Real estate: Construction 961 909 1,870 1,374,292 1,376,162 — Single family residential 10,226 5,491 15,717 1,415,690 1,431,407 7 Other commercial 4,384 4,652 9,036 3,346,073 3,355,109 — Total real estate 15,571 11,052 26,623 6,136,055 6,162,678 7 Commercial: Commercial 6,845 8,611 15,456 1,785,966 1,801,422 — Agricultural 202 954 1,156 146,060 147,216 — Total commercial 7,047 9,565 16,612 1,932,026 1,948,638 — Other — — — 178,026 178,026 — Total $ 26,369 $ 21,667 $ 48,036 $ 8,636,514 $ 8,684,550 $ 281 December 31, 2018 Consumer: Credit cards $ 1,033 $ 506 $ 1,539 $ 202,634 $ 204,173 $ 209 Other consumer 4,264 896 5,160 196,137 201,297 4 Total consumer 5,297 1,402 6,699 398,771 405,470 213 Real estate: Construction 533 308 841 1,299,882 1,300,723 — Single family residential 7,769 4,127 11,896 1,428,547 1,440,443 — Other commercial 3,379 2,773 6,152 3,219,135 3,225,287 — Total real estate 11,681 7,208 18,889 5,947,564 5,966,453 — Commercial: Commercial 4,472 5,105 9,577 1,765,332 1,774,909 11 Agricultural 467 1,055 1,522 162,992 164,514 — Total commercial 4,939 6,160 11,099 1,928,324 1,939,423 11 Other — — — 119,042 119,042 — Total $ 21,917 $ 14,770 $ 36,687 $ 8,393,701 $ 8,430,388 $ 224 An age analysis of past due loans acquired 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 30-89 Days Past Due 90 Days or More Past Due Total Past Due Current Total Loans 90 Days Past Due & Accruing March 31, 2019 Consumer: Other consumer $ 94 $ 77 $ 171 $ 11,808 $ 11,979 $ — Real estate: Construction 5 8,122 8,127 396,385 404,512 — Single family residential 5,058 2,583 7,641 526,276 533,917 24 Other commercial 305 8,267 8,572 1,721,900 1,730,472 — Total real estate 5,368 18,972 24,340 2,644,561 2,668,901 24 Commercial: Commercial 7,265 6,673 13,938 360,095 374,033 — Agricultural — — — 1,274 1,274 — Total commercial 7,265 6,673 13,938 361,369 375,307 — Total $ 12,727 $ 25,722 $ 38,449 $ 3,017,738 $ 3,056,187 $ 24 (In thousands) Gross 30-89 Days Past Due 90 Days or More Past Due Total Past Due Current Total Loans 90 Days Past Due & Accruing December 31, 2018 Consumer: Other consumer $ 337 $ 49 $ 386 $ 15,272 $ 15,658 $ 2 Real estate: Construction 8,283 27 8,310 421,295 429,605 — Single family residential 4,706 3,049 7,755 558,433 566,188 — Other commercial 168 577 745 1,847,934 1,848,679 — Total real estate 13,157 3,653 16,810 2,827,662 2,844,472 — Commercial: Commercial 1,302 9,542 10,844 420,070 430,914 — Agricultural 31 5 36 1,703 1,739 — Total commercial 1,333 9,547 10,880 421,773 432,653 — Total $ 14,827 $ 13,249 $ 28,076 $ 3,264,707 $ 3,292,783 $ 2 |
Loans by Credit Risk Ratings | The following table presents a summary of loans by credit risk rating as of March 31, 2019 and December 31, 2018 , 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 1-4 Risk Rate 5 Risk Rate 6 Risk Rate 7 Risk Rate 8 Total March 31, 2019 Consumer: Credit cards $ 180,988 $ — $ 561 $ — $ — $ 181,549 Other consumer 211,642 — 2,017 — — 213,659 Total consumer 392,630 — 2,578 — — 395,208 Real estate: Construction 1,372,113 443 3,606 — — 1,376,162 Single family residential 1,407,554 1,784 21,839 230 — 1,431,407 Other commercial 3,313,139 21,629 20,341 — — 3,355,109 Total real estate 6,092,806 23,856 45,786 230 — 6,162,678 Commercial: Commercial 1,745,162 9,671 46,589 — — 1,801,422 Agricultural 145,828 67 1,321 — — 147,216 Total commercial 1,890,990 9,738 47,910 — — 1,948,638 Other 178,026 — — — — 178,026 Loans acquired 2,930,179 45,157 80,515 336 — 3,056,187 Total $ 11,484,631 $ 78,751 $ 176,789 $ 566 $ — $ 11,740,737 (In thousands) Risk Rate 1-4 Risk Rate 5 Risk Rate 6 Risk Rate 7 Risk Rate 8 Total December 31, 2018 Consumer: Credit cards $ 203,667 $ — $ 506 $ — $ — $ 204,173 Other consumer 198,840 — 2,457 — — 201,297 Total consumer 402,507 — 2,963 — — 405,470 Real estate: Construction 1,296,988 1,910 1,825 — — 1,300,723 Single family residential 1,420,052 1,628 18,528 235 — 1,440,443 Other commercial 3,193,289 17,169 14,829 — — 3,225,287 Total real estate 5,910,329 20,707 35,182 235 — 5,966,453 Commercial: Commercial 1,742,002 8,357 24,550 — — 1,774,909 Agricultural 162,824 75 1,615 — — 164,514 Total commercial 1,904,826 8,432 26,165 — — 1,939,423 Other 119,042 — — — — 119,042 Loans acquired 3,187,083 51,255 54,097 348 — 3,292,783 Total $ 11,523,787 $ 80,394 $ 118,407 $ 583 $ — $ 11,723,171 The following table presents a summary of loans acquired 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 1-4 Risk Rate 5 Risk Rate 6 Risk Rate 7 Risk Rate 8 Total March 31, 2019 Consumer: Other consumer $ 11,715 $ — $ 264 $ — $ — $ 11,979 Real estate: Construction 369,267 27,475 7,770 — — 404,512 Single family residential 520,159 2,049 11,373 336 — 533,917 Other commercial 1,675,051 11,894 43,527 — — 1,730,472 Total real estate 2,564,477 41,418 62,670 336 — 2,668,901 Commercial: Commercial 352,779 3,739 17,515 — — 374,033 Agricultural 1,208 — 66 — — 1,274 Total commercial 353,987 3,739 17,581 — — 375,307 Total $ 2,930,179 $ 45,157 $ 80,515 $ 336 $ — $ 3,056,187 (In thousands) Risk Rate 1-4 Risk Rate 5 Risk Rate 6 Risk Rate 7 Risk Rate 8 Total December 31, 2018 Consumer: Other consumer $ 15,380 $ — $ 278 $ — $ — $ 15,658 Real estate: Construction 393,122 27,621 8,862 — — 429,605 Single family residential 553,460 2,081 10,299 348 — 566,188 Other commercial 1,822,179 9,137 17,363 — — 1,848,679 Total real estate 2,768,761 38,839 36,524 348 — 2,844,472 Commercial: Commercial 401,300 12,416 17,198 — — 430,914 Agricultural 1,642 — 97 — — 1,739 Total commercial 402,942 12,416 17,295 — — 432,653 Total $ 3,187,083 $ 51,255 $ 54,097 $ 348 $ — $ 3,292,783 |
Goodwill and Other Intangible_2
Goodwill and Other Intangible Assets (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Goodwill and Other Intangibles | The Company’s goodwill and other intangibles (carrying basis and accumulated amortization) at March 31, 2019 and December 31, 2018 , were as follows: (In thousands) March 31, 2019 December 31, 2018 Goodwill $ 845,687 $ 845,687 Core deposit premiums: Gross carrying amount 105,984 105,984 Accumulated amortization (28,552 ) (26,177 ) Core deposit premiums, net 77,432 79,807 Books of business intangible: Gross carrying amount 15,234 15,234 Accumulated amortization (3,972 ) (3,707 ) Books of business intangible, net 11,262 11,527 Other intangible assets, net 88,694 91,334 Total goodwill and other intangible assets $ 934,381 $ 937,021 |
Estimated Remaining Amortization Expense | The Company’s estimated remaining amortization expense on intangibles as of March 31, 2019 is as follows: (In thousands) Year Amortization Expense Remainder of 2019 $ 7,924 2020 10,552 2021 10,490 2022 10,438 2023 10,156 Thereafter 39,134 Total $ 88,694 |
Income Taxes (Tables)
Income Taxes (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
Income Tax Disclosure [Abstract] | |
Provision for Income Taxes | The provision for income taxes is comprised of the following components for the periods indicated below: Three Months Ended (In thousands) 2019 2018 Income taxes currently payable $ 10,317 $ 10,045 Deferred income taxes 2,081 3,921 Provision for income taxes $ 12,398 $ 13,966 |
Schedule of Deferred Tax Assets and Liabilities | The tax effects of temporary differences between the tax basis of assets and liabilities and their financial reporting amounts that give rise to deferred income tax assets and liabilities, and their appropriate tax effects, are as follows: (In thousands) March 31, 2019 December 31, 2018 Deferred tax assets: Loans acquired $ 11,052 $ 12,536 Allowance for loan losses 14,885 13,947 Valuation of foreclosed assets 1,474 1,474 Tax NOLs from acquisition 6,969 7,242 Deferred compensation payable 2,793 2,707 Accrued equity and other compensation 6,304 8,182 Acquired securities 397 397 Unrealized loss on available-for-sale securities 2,718 9,196 Other 7,130 7,042 Gross deferred tax assets 53,722 62,723 (In thousands) March 31, 2019 December 31, 2018 Deferred tax liabilities: Goodwill and other intangible amortization $ (30,273 ) $ (30,471 ) Accumulated depreciation (13,361 ) (13,361 ) Other (5,115 ) (5,360 ) Gross deferred tax liabilities (48,749 ) (49,192 ) Net deferred tax asset, included in other assets $ 4,973 $ 13,531 |
Reconciliation of Income Tax Expense | A reconciliation of income tax expense at the statutory rate to the Company’s actual income tax expense is shown for the periods indicated below: Three Months Ended (In thousands) 2019 2018 Computed at the statutory rate (21%) $ 12,620 $ 13,708 Increase (decrease) in taxes resulting from: State income taxes, net of federal tax benefit 1,345 1,822 Discrete items related to ASU 2016-09 (26 ) (273 ) Tax exempt interest income (961 ) (677 ) Tax exempt earnings on BOLI (179 ) (186 ) Federal tax credits (729 ) — Other differences, net 328 (428 ) Actual tax provision $ 12,398 $ 13,966 |
Securities Sold Under Agreeme_2
Securities Sold Under Agreements to Repurchase (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
Banking and Thrift [Abstract] | |
Contractual Maturity of Securities Sold Under Agreements to Repurchase | The remaining contractual maturity of the securities sold under agreements to repurchase in the consolidated balance sheets as of March 31, 2019 and December 31, 2018 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 March 31, 2019 Repurchase agreements: U.S. Government agencies $ 116,963 $ — $ — $ — $ 116,963 December 31, 2018 Repurchase agreements: U.S. Government agencies $ 95,542 $ — $ — $ — $ 95,542 |
Other Borrowings and Subordin_2
Other Borrowings and Subordinated Notes and Debentures (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
Debt Disclosure [Abstract] | |
Debt | Debt at March 31, 2019 and December 31, 2018 consisted of the following components: (In thousands) March 31, 2019 December 31, 2018 Other Borrowings FHLB advances, net of discount, due 2019 to 2033, 1.38% to 7.37% secured by real estate loans $ 1,169,989 $ 1,345,450 Revolving credit agreement, due 10/4/2019, floating rate of 1.50% above the one month LIBOR rate, unsecured — — Total other borrowings 1,169,989 1,345,450 Subordinated Notes and Debentures Subordinated notes payable, due 4/1/2028, fixed-to-floating rate (fixed rate of 5.00% through 3/31/2023, floating rate of 2.15% above the three month LIBOR rate, reset quarterly) 330,000 330,000 Trust preferred securities, net of discount, due 9/15/2037, floating rate of 1.37% above the three month LIBOR rate, reset quarterly 10,310 10,310 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 10,310 10,310 Trust preferred securities, due 12/15/2035, floating rate of 1.45% above the three month LIBOR rate, reset quarterly, callable without penalty 6,702 6,702 Unamortized debt issuance costs (3,281 ) (3,372 ) Total subordinated notes and debentures 354,041 353,950 Total other borrowings and subordinated debt $ 1,524,030 $ 1,699,400 |
Aggregate Annual Maturities of Long-term Debt | Aggregate annual maturities of long-term debt at March 31, 2019 , are as follows: (In thousands) Year Annual Maturities 2019 $ 1,775 2020 2,099 2021 1,801 2022 948 2023 925 Thereafter 361,482 Total $ 369,030 |
Stock Based Compensation (Table
Stock Based Compensation (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Stock Compensation Plans | The table below summarizes the transactions under the Company’s active stock compensation plans for the three months ended March 31, 2019 : Stock Options Outstanding Non-vested Stock Awards Outstanding Non-vested Stock Units Outstanding Number of Shares (000) Weighted Average Exercise Price Number of Shares (000) Weighted Average Grant-Date Fair Value Number of Shares (000) Weighted Average Grant-Date Fair Value Balance, January 1, 2019 695 $ 22.42 72 $ 21.45 817 $ 27.65 Granted — — — — 399 26.57 Stock options exercised (1 ) 10.65 — — — — Stock awards/units vested (earned) — — (21 ) 18.65 (266 ) 26.55 Forfeited/expired — — (1 ) 18.92 (57 ) 28.45 Balance, March 31, 2019 694 $ 22.43 50 $ 22.68 893 $ 27.49 Exercisable, March 31, 2019 694 $ 22.43 |
Stock Options | The following table summarizes information about stock options under the plans outstanding at March 31, 2019 : Options Outstanding Options Exercisable Range of Exercise Prices Number of Shares (000) Weighted Average Remaining Contractual Life (Years) Weighted Average Exercise Price Number of Shares (000) Weighted Average Exercise Price $ 9.46 — $ 9.46 1 2.80 $9.46 1 $9.46 10.65 — 10.65 3 3.83 10.65 3 10.65 10.76 — 10.76 2 0.80 10.76 2 10.76 20.29 — 20.29 71 5.75 20.29 71 20.29 20.36 — 20.36 3 5.63 20.36 3 20.36 22.20 — 22.20 74 5.98 22.20 74 22.20 22.75 — 22.75 436 6.36 22.75 436 22.75 23.51 — 23.51 97 6.81 23.51 97 23.51 24.07 — 24.07 7 6.46 24.07 7 24.07 $ 9.46 — $ 24.07 694 6.28 $22.43 694 $22.43 |
Restricted Performance Stock Unit Activity | The table below summarizes the Company’s restricted performance stock unit activity for the three months ended March 31, 2019 : (In thousands) Performance Stock Units Non-vested, January 1, 2019 177 Granted 83 Vested (earned) (54 ) Forfeited (17 ) Non-vested, March 31, 2019 189 |
Earnings Per Share ("EPS") (Tab
Earnings Per Share ("EPS") (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
Earnings Per Share [Abstract] | |
Computation of Earnings Per Share | The computation of earnings per share is as follows: Three Months Ended (In thousands, except per share data) 2019 2018 Net income $ 47,695 $ 51,312 Average common shares outstanding 92,520 92,182 Average potential dilutive common shares 351 457 Average diluted common shares 92,871 92,639 Basic earnings per share $ 0.52 $ 0.56 Diluted earnings per share $ 0.51 $ 0.55 |
Additional Cash Flow Informat_2
Additional Cash Flow Information (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
Supplemental Cash Flow Information [Abstract] | |
Additional Cash Flow Information | The following is a summary of the Company’s additional cash flow information: Three Months Ended (In thousands) 2019 2018 Interest paid $ 38,047 $ 22,863 Income taxes (refunded) paid (54 ) (7,375 ) Transfers of loans to foreclosed assets held for sale 569 1,316 Transfers of premises to foreclosed assets and other real estate owned — 106 Right-of use lease assets obtained in exchange for lessee operating lease liabilities 32,757 — |
Other Operating Expenses (Table
Other Operating Expenses (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
Other Income and Expenses [Abstract] | |
Other Operating Expenses | Other operating expenses consist of the following: Three Months Ended (In thousands) 2019 2018 Professional services $ 4,323 $ 4,330 Postage 1,726 1,399 Telephone 1,619 1,486 Credit card expense 3,860 3,228 Marketing 3,057 1,660 Software and technology 4,496 2,648 Operating supplies 618 749 Amortization of intangibles 2,641 2,837 Branch right sizing expense 45 61 Other expense 7,677 7,096 Total other operating expenses $ 30,062 $ 25,494 |
Fair Value Measurements (Tables
Fair Value Measurements (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
Fair Value Disclosures [Abstract] | |
Financial Instruments Measured on Recurring Basis | 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 March 31, 2019 and December 31, 2018 . Fair Value Measurements Using (In thousands) Fair Value Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) March 31, 2019 Available-for-sale securities U.S. Government agencies $ 161,577 $ — $ 161,577 $ — Mortgage-backed securities 1,345,677 — 1,345,677 — State and political subdivisions 580,790 — 580,790 — Other securities 152,067 — 152,067 — Derivative asset 6,306 — 6,306 — Derivative liability (5,861 ) — (5,861 ) — December 31, 2018 Available-for-sale securities U.S. Government agencies $ 154,301 $ — $ 154,301 $ — Mortgage-backed securities 1,522,900 — 1,522,900 — States and political subdivisions 314,843 — 314,843 — Other securities 159,708 — 159,708 — Derivative asset 6,242 — 6,242 — Derivative liability (5,283 ) — (5,283 ) — |
Financial Assets Measure on Nonrecurring Basis | 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 March 31, 2019 and December 31, 2018 . Fair Value Measurements Using (In thousands) Fair Value Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) March 31, 2019 Impaired loans (1) (2) (collateral dependent) $ 2,101 $ — $ — $ 2,101 Foreclosed assets and other real estate owned (1) 302 — — 302 December 31, 2018 Impaired loans (1) (2) (collateral dependent) $ 17,789 $ — $ — $ 17,789 Foreclosed assets and other real estate owned (1) 23,714 — — 23,714 ________________________ (1) These amounts represent the resulting carrying amounts on the Consolidated Balance Sheets for impaired collateral dependent loans and foreclosed assets and other real estate owned for which fair value re-measurements took place during the period. (2) Specific allocations of zero and $2,738,000 were related to the impaired collateral dependent loans for which fair value re-measurements took place during the periods ended March 31, 2019 and December 31, 2018 , respectively. |
Estimated Fair Values and Related Carrying Amounts | 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 March 31, 2019 Financial assets: Cash and cash equivalents $ 491,161 $ 491,161 $ — $ — $ 491,161 Interest bearing balances due from banks - time 4,684 — 4,684 — 4,684 Held-to-maturity securities 61,435 — 61,956 — 61,956 Mortgage loans held for sale 18,480 — — 18,480 18,480 Interest receivable 51,796 — 51,796 — 51,796 Legacy loans, net 8,625,307 — — 8,539,036 8,539,036 Loans acquired, net 3,056,187 — — 3,025,619 3,025,619 Financial liabilities: Non-interest bearing transaction accounts 2,674,034 — 2,674,034 — 2,674,034 Interest bearing transaction accounts and savings deposits 6,666,823 — 6,666,823 — 6,666,823 Time deposits 2,648,674 — — 2,632,615 2,632,615 Federal funds purchased and securities sold under agreements to repurchase 120,213 — 120,213 — 120,213 Other borrowings 1,169,989 — 1,168,914 — 1,168,914 Subordinated notes and debentures 354,041 — 359,090 — 359,090 Interest payable 13,941 — 13,941 — 13,941 December 31, 2018 Financial assets: Cash and cash equivalents $ 833,458 $ 833,458 $ — $ — $ 833,458 Interest bearing balances due from banks - time 4,934 — 4,934 — 4,934 Held-to-maturity securities 289,194 — 290,830 — 290,830 Mortgage loans held for sale 26,799 — — 26,799 26,799 Interest receivable 49,938 — 49,938 — 49,938 Legacy loans, net 8,373,789 — — 8,280,690 8,280,690 Loans acquired, net 3,292,783 — — 3,256,174 3,256,174 Financial liabilities: Non-interest bearing transaction accounts 2,672,405 — 2,672,405 — 2,672,405 Interest bearing transaction accounts and savings deposits 6,830,191 — 6,830,191 — 6,830,191 Time deposits 2,896,156 — — 2,872,342 2,872,342 Federal funds purchased and securities sold under agreements to repurchase 95,792 — 95,792 — 95,792 Other borrowings 1,345,450 — 1,342,868 — 1,342,868 Subordinated debentures 353,950 — 355,812 — 355,812 Interest payable 9,897 — 9,897 — 9,897 |
Preparation of Interim Financ_3
Preparation of Interim Financial Statements (Details) $ in Thousands | 3 Months Ended | |
Mar. 31, 2019USD ($)financial_center | Jan. 01, 2019USD ($) | |
Lessee, Lease, Description [Line Items] | ||
Number of financial centers | financial_center | 191 | |
Unrealized gain on AFS securities | $ 2,547 | |
Operating lease, right-of-use asset | 30,500 | |
Operating lease, liability | 30,400 | |
Accounting Standards Update 2017-12 | ||
Lessee, Lease, Description [Line Items] | ||
Fair value of HTM municipal bonds | 216,400 | |
Unrealized gain on AFS securities | $ 2,500 | |
Accounting Standards Update 2016-02 | ||
Lessee, Lease, Description [Line Items] | ||
Operating lease, right-of-use asset | $ 32,800 | |
Operating lease, liability | $ 32,800 |
Subsequent Acquisition - Textua
Subsequent Acquisition - Textual (Details) $ in Thousands | Apr. 12, 2019USD ($)shares | Mar. 31, 2019USD ($) | Dec. 31, 2018USD ($) | Dec. 31, 2017USD ($) |
Business Acquisition [Line Items] | ||||
Assets | $ 16,091,639 | $ 16,543,337 | $ 15,000,000 | |
Net loans | 11,681,494 | 11,666,572 | ||
Deposits | $ 11,989,531 | $ 12,398,752 | ||
Reliance Bancshares, Inc. | Subsequent Event | ||||
Business Acquisition [Line Items] | ||||
Assets | $ 17,600,000 | |||
Net loans | 12,900,000 | |||
Deposits | $ 13,100,000 | |||
Shares issued (in shares) | shares | 3,999,623 | |||
Payments to acquire businesses, gross | $ 62,700 | |||
Series A or B Preferred Stock | Reliance Bancshares, Inc. | Subsequent Event | ||||
Business Acquisition [Line Items] | ||||
Shares issued, conversion ratio (in shares) | 1 | |||
Series C Preferred Stock | Reliance Bancshares, Inc. | Subsequent Event | ||||
Business Acquisition [Line Items] | ||||
Shares issued, conversion ratio (in shares) | 1 |
Investment Securities - Summary
Investment Securities - Summary of Investment Securities (Details) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
Held-to-Maturity | ||
Amortized Cost | $ 61,435 | $ 289,194 |
Gross Unrealized Gains | 797 | 3,051 |
Gross Unrealized (Losses) | (276) | (1,415) |
Estimated Fair Value | 61,956 | 290,830 |
Available-for-Sale | ||
Amortized Cost | 2,250,103 | 2,187,623 |
Gross Unrealized Gains | 13,909 | 6,037 |
Gross Unrealized (Losses) | (23,901) | (41,908) |
Estimated Fair Value | 2,240,111 | 2,151,752 |
U.S. Government agencies | ||
Held-to-Maturity | ||
Amortized Cost | 12,996 | 16,990 |
Gross Unrealized Gains | 0 | 0 |
Gross Unrealized (Losses) | (9) | (49) |
Estimated Fair Value | 12,987 | 16,941 |
Available-for-Sale | ||
Amortized Cost | 163,730 | 157,523 |
Gross Unrealized Gains | 596 | 518 |
Gross Unrealized (Losses) | (2,749) | (3,740) |
Estimated Fair Value | 161,577 | 154,301 |
Mortgage-backed securities | ||
Held-to-Maturity | ||
Amortized Cost | 12,847 | 13,346 |
Gross Unrealized Gains | 10 | 5 |
Gross Unrealized (Losses) | (240) | (412) |
Estimated Fair Value | 12,617 | 12,939 |
Available-for-Sale | ||
Amortized Cost | 1,362,950 | 1,552,487 |
Gross Unrealized Gains | 2,569 | 3,097 |
Gross Unrealized (Losses) | (19,842) | (32,684) |
Estimated Fair Value | 1,345,677 | 1,522,900 |
State and political subdivisions | ||
Held-to-Maturity | ||
Amortized Cost | 33,597 | 256,863 |
Gross Unrealized Gains | 751 | 3,029 |
Gross Unrealized (Losses) | (27) | (954) |
Estimated Fair Value | 34,321 | 258,938 |
Available-for-Sale | ||
Amortized Cost | 571,716 | 320,142 |
Gross Unrealized Gains | 10,307 | 171 |
Gross Unrealized (Losses) | (1,233) | (5,470) |
Estimated Fair Value | 580,790 | 314,843 |
Other securities | ||
Held-to-Maturity | ||
Amortized Cost | 1,995 | 1,995 |
Gross Unrealized Gains | 36 | 17 |
Gross Unrealized (Losses) | 0 | 0 |
Estimated Fair Value | 2,031 | 2,012 |
Available-for-Sale | ||
Amortized Cost | 151,707 | 157,471 |
Gross Unrealized Gains | 437 | 2,251 |
Gross Unrealized (Losses) | (77) | (14) |
Estimated Fair Value | $ 152,067 | $ 159,708 |
Investment Securities - Textual
Investment Securities - Textual (Details) - USD ($) | 3 Months Ended | ||
Mar. 31, 2019 | Mar. 31, 2018 | Dec. 31, 2018 | |
Investments, Debt and Equity Securities [Abstract] | |||
Securities valued at less than historical cost, amount | $ 1,400,000,000 | $ 1,700,000,000 | |
Securities valued at less than historical cost (as percent) | 60.10% | 70.30% | |
Securities pledged as collateral | $ 1,060,000,000 | $ 1,020,000,000 | |
Realized gains | 2,700,000 | $ 6,000 | |
Realized losses | $ 0 | $ 0 |
Investment Securities - Securit
Investment Securities - Securities With Unrealized Losses (Details) $ in Thousands | Mar. 31, 2019USD ($) |
Held-to-Maturity | |
Held-to-maturity, less than 12 months, estimated fair value | $ 567 |
Held-to-maturity, less than 12 months, gross unrealized losses | (2) |
Held-to-maturity, 12 months or more, estimated fair value | 27,862 |
Held-to-maturity, 12 months or more, gross unrealized losses | (274) |
Held-to-maturity, total, estimated fair value | 28,429 |
Held-to-maturity, total, gross unrealized losses | (276) |
Debt Securities, Available-for-sale [Line Items] | |
Available-for-sale, less than 12 months, estimated fair value | 52,072 |
Available-for-sale, less than 12 months, gross unrealized losses | (358) |
Available-for-sale, 12 months or more, estimated fair value | 1,303,292 |
Available-for-sale, 12 months or more, gross unrealized losses | (23,543) |
Available-for-sale, total, estimated fair value | 1,355,364 |
Available-for-sale, total, gross unrealized losses | (23,901) |
U.S. Government agencies | |
Held-to-Maturity | |
Held-to-maturity, less than 12 months, estimated fair value | 0 |
Held-to-maturity, less than 12 months, gross unrealized losses | 0 |
Held-to-maturity, 12 months or more, estimated fair value | 12,987 |
Held-to-maturity, 12 months or more, gross unrealized losses | (9) |
Held-to-maturity, total, estimated fair value | 12,987 |
Held-to-maturity, total, gross unrealized losses | (9) |
Debt Securities, Available-for-sale [Line Items] | |
Available-for-sale, less than 12 months, estimated fair value | 5,583 |
Available-for-sale, less than 12 months, gross unrealized losses | (30) |
Available-for-sale, 12 months or more, estimated fair value | 124,129 |
Available-for-sale, 12 months or more, gross unrealized losses | (2,719) |
Available-for-sale, total, estimated fair value | 129,712 |
Available-for-sale, total, gross unrealized losses | (2,749) |
Mortgage-backed securities | |
Held-to-Maturity | |
Held-to-maturity, less than 12 months, estimated fair value | 487 |
Held-to-maturity, less than 12 months, gross unrealized losses | (1) |
Held-to-maturity, 12 months or more, estimated fair value | 9,994 |
Held-to-maturity, 12 months or more, gross unrealized losses | (239) |
Held-to-maturity, total, estimated fair value | 10,481 |
Held-to-maturity, total, gross unrealized losses | (240) |
Debt Securities, Available-for-sale [Line Items] | |
Available-for-sale, less than 12 months, estimated fair value | 40,444 |
Available-for-sale, less than 12 months, gross unrealized losses | (248) |
Available-for-sale, 12 months or more, estimated fair value | 1,086,169 |
Available-for-sale, 12 months or more, gross unrealized losses | (19,594) |
Available-for-sale, total, estimated fair value | 1,126,613 |
Available-for-sale, total, gross unrealized losses | (19,842) |
State and political subdivisions | |
Held-to-Maturity | |
Held-to-maturity, less than 12 months, estimated fair value | 80 |
Held-to-maturity, less than 12 months, gross unrealized losses | (1) |
Held-to-maturity, 12 months or more, estimated fair value | 4,881 |
Held-to-maturity, 12 months or more, gross unrealized losses | (26) |
Held-to-maturity, total, estimated fair value | 4,961 |
Held-to-maturity, total, gross unrealized losses | (27) |
Debt Securities, Available-for-sale [Line Items] | |
Available-for-sale, less than 12 months, estimated fair value | 1,016 |
Available-for-sale, less than 12 months, gross unrealized losses | (4) |
Available-for-sale, 12 months or more, estimated fair value | 92,894 |
Available-for-sale, 12 months or more, gross unrealized losses | (1,229) |
Available-for-sale, total, estimated fair value | 93,910 |
Available-for-sale, total, gross unrealized losses | (1,233) |
Other securities | |
Debt Securities, Available-for-sale [Line Items] | |
Available-for-sale, less than 12 months, estimated fair value | 5,029 |
Available-for-sale, less than 12 months, gross unrealized losses | (76) |
Available-for-sale, 12 months or more, estimated fair value | 100 |
Available-for-sale, 12 months or more, gross unrealized losses | (1) |
Available-for-sale, total, estimated fair value | 5,129 |
Available-for-sale, total, gross unrealized losses | $ (77) |
Investment Securities - Income
Investment Securities - Income Earned on Securities (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Non-taxable: | ||
Total | $ 17,312 | $ 12,622 |
Held-to-maturity | ||
Taxable: | ||
Taxable | 438 | 567 |
Non-taxable: | ||
Non-taxable | 1,162 | 1,936 |
Available-for-sale | ||
Taxable: | ||
Taxable | 12,551 | 9,032 |
Non-taxable: | ||
Non-taxable | $ 3,161 | $ 1,087 |
Investment Securities - Maturit
Investment Securities - Maturities of Investment Securities (Details) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
Investments, Debt and Equity Securities [Abstract] | ||
Held-to-maturity, amortized cost, one year or less | $ 18,407 | |
Held-to-maturity, amortized cost, after one through five years | 20,419 | |
Held-to-maturity, amortized cost, after five through ten years | 5,564 | |
Held-to-maturity, amortized cost, after ten years | 4,198 | |
Held-to-maturity, amortized cost, securities not due on a single maturity date | 12,847 | |
Amortized Cost | 61,435 | $ 289,194 |
Held-to-maturity, fair value, one year or less | 18,397 | |
Held-to-maturity, fair value, after one through five years | 20,624 | |
Held-to-maturity, fair value, after five through ten years | 5,691 | |
Held-to-maturity, fair value, after ten years | 4,627 | |
Held-to-maturity, fair value, securities not due on a single maturity date | 12,617 | |
Held-to-maturity, fair value, total | 61,956 | 290,830 |
Available-for-sale, amortized cost, one year or less | 7,375 | |
Available-for-sale, amortized cost, after one through five years | 74,428 | |
Available-for-sale, amortized cost, after five through ten years | 123,088 | |
Available-for-sale, amortized cost, after ten years | 535,761 | |
Available-for-sale, amortized cost, securities not due on a single maturity date | 1,362,950 | |
Available-for-sale, amortized cost, other securities (no maturity) | 146,501 | |
Amortized Cost | 2,250,103 | 2,187,623 |
Available-for-sale, fair value, one year or less | 7,372 | |
Available-for-sale, fair value, after one through five years | 74,208 | |
Available-for-sale, fair value, after five through ten years | 124,101 | |
Available-for-sale, fair value, after ten years | 541,815 | |
Available-for-sale, fair value, securities not due on a single maturity date | 1,345,677 | |
Available-for-sale, fair value, other securities (no maturity) | 146,938 | |
Available-for-sale, fair value, total | $ 2,240,111 | $ 2,151,752 |
Loans and Allowance for Loan _3
Loans and Allowance for Loan Losses - Textual (Details) | 3 Months Ended | ||
Mar. 31, 2019USD ($)loan | Mar. 31, 2018USD ($)loan | Dec. 31, 2018USD ($) | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | $ 11,740,000,000 | $ 11,720,000,000 | |
Recorded investment | 57,579,000 | 39,770,000 | |
Impaired loan, related allowance | 521,000 | 684,000 | |
Interest income recognized | 375,000 | $ 350,000 | |
Average Investment in Impaired Loans | $ 48,675,000 | $ 45,596,000 | |
Troubled debt, number of contracts | loan | 0 | 2 | |
Balance prior to TDR | $ 152,000 | ||
Financial impact on date of restructure | $ 0 | ||
Foreclosed assets and other real estate owned | 18,952,000 | 25,565,000 | |
Risk Rate 6 | Financial Asset Acquired with Credit Deterioration | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans acquired | 3,700,000 | 4,100,000 | |
Risk Ratings 6,7, and 8 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans acquired excluding loans accounted for under ASC Topic 310-30 | 177,400,000 | 119,000,000 | |
Risk Ratings 6,7, and 8 | Financial Asset Acquired with Credit Deterioration | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans acquired excluding loans accounted for under ASC Topic 310-30 | 77,200,000 | 50,400,000 | |
Residential Real Estate | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans in process of foreclosure, amount | 3,498,000 | 3,899,000 | |
OREO Received in Full or Partial Satisfaction of Loans | Residential Real Estate | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Foreclosed assets and other real estate owned | 4,716,000 | 3,530,000 | |
Real estate | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | 6,162,678,000 | 5,966,453,000 | |
Recorded investment | 24,976,000 | 24,253,000 | |
Impaired loan, related allowance | 412,000 | $ 247,000 | |
Interest income recognized | 176,000 | 236,000 | |
Average Investment in Impaired Loans | 24,615,000 | $ 31,892,000 | |
Troubled debt, number of contracts | loan | 1 | ||
Balance prior to TDR | $ 61,000 | ||
Financial impact on date of restructure | 0 | ||
Real estate | OREO Received in Full or Partial Satisfaction of Loans | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Balance prior to TDR | $ 0 | $ 294,300 | |
Commercial Real Estate | Real estate | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Number of loans with subsequent default | loan | 1 | 1 | |
Write-down of impaired loans | $ 138,000 | $ 66,300 | |
Transfers of loans | $ 294,300 |
Loans and Allowance for Loan _4
Loans and Allowance for Loan Losses - Loan Portfolio by Categories (Details) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
Loans and Leases Receivable Disclosure [Line Items] | ||
Loans | $ 11,740,000 | $ 11,720,000 |
Loans acquired, net of discount and allowance | 3,056,187 | 3,292,783 |
Total loans | 11,740,737 | 11,723,171 |
Loans, Excluding Acquired Loans | ||
Loans and Leases Receivable Disclosure [Line Items] | ||
Loans | 8,684,550 | 8,430,388 |
Consumer | ||
Loans and Leases Receivable Disclosure [Line Items] | ||
Loans | 395,208 | 405,470 |
Consumer | Credit cards | ||
Loans and Leases Receivable Disclosure [Line Items] | ||
Loans | 181,549 | 204,173 |
Consumer | Other consumer | ||
Loans and Leases Receivable Disclosure [Line Items] | ||
Loans | 213,659 | 201,297 |
Real estate | ||
Loans and Leases Receivable Disclosure [Line Items] | ||
Loans | 6,162,678 | 5,966,453 |
Real estate | Construction | ||
Loans and Leases Receivable Disclosure [Line Items] | ||
Loans | 1,376,162 | 1,300,723 |
Real estate | Single family residential | ||
Loans and Leases Receivable Disclosure [Line Items] | ||
Loans | 1,431,407 | 1,440,443 |
Real estate | Other commercial | ||
Loans and Leases Receivable Disclosure [Line Items] | ||
Loans | 3,355,109 | 3,225,287 |
Commercial | ||
Loans and Leases Receivable Disclosure [Line Items] | ||
Loans | 1,948,638 | 1,939,423 |
Commercial | Commercial | ||
Loans and Leases Receivable Disclosure [Line Items] | ||
Loans | 1,801,422 | 1,774,909 |
Commercial | Agricultural | ||
Loans and Leases Receivable Disclosure [Line Items] | ||
Loans | 147,216 | 164,514 |
Other | ||
Loans and Leases Receivable Disclosure [Line Items] | ||
Loans | $ 178,026 | $ 119,042 |
Loans and Allowance for Loan _5
Loans and Allowance for Loan Losses - Nonaccrual Loans, Excluding Loans Acquired, Segregated by Class of Loans (Details) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans in nonaccrual status | $ 60,925 | $ 34,201 |
Consumer | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans in nonaccrual status | 1,893 | 2,455 |
Consumer | Credit cards | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans in nonaccrual status | 338 | 296 |
Consumer | Other consumer | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans in nonaccrual status | 1,555 | 2,159 |
Real estate | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans in nonaccrual status | 26,506 | 20,413 |
Real estate | Construction | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans in nonaccrual status | 2,570 | 1,269 |
Real estate | Single family residential | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans in nonaccrual status | 15,324 | 11,939 |
Real estate | Other commercial | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans in nonaccrual status | 8,612 | 7,205 |
Commercial | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans in nonaccrual status | 32,526 | 11,333 |
Commercial | Commercial | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans in nonaccrual status | 31,409 | 10,049 |
Commercial | Agricultural | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans in nonaccrual status | $ 1,117 | $ 1,284 |
Loans and Allowance for Loan _6
Loans and Allowance for Loan Losses - Age Analysis of Past Due Loans, Excluding Loans Acquired, Segregated by Class of Loans (Details) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | $ 11,740,737 | $ 11,723,171 |
Loans, Excluding Acquired Loans | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 48,036 | 36,687 |
Current | 8,636,514 | 8,393,701 |
Total Loans | 8,684,550 | 8,430,388 |
90 Days Past Due & Accruing | 281 | 224 |
Gross 30-89 Days Past Due | Loans, Excluding Acquired Loans | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 26,369 | 21,917 |
90 Days or More Past Due | Loans, Excluding Acquired Loans | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 21,667 | 14,770 |
Consumer | Loans, Excluding Acquired Loans | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 4,801 | 6,699 |
Current | 390,407 | 398,771 |
Total Loans | 395,208 | 405,470 |
90 Days Past Due & Accruing | 274 | 213 |
Consumer | Gross 30-89 Days Past Due | Loans, Excluding Acquired Loans | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 3,751 | 5,297 |
Consumer | 90 Days or More Past Due | Loans, Excluding Acquired Loans | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 1,050 | 1,402 |
Consumer | Credit cards | Loans, Excluding Acquired Loans | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 1,294 | 1,539 |
Current | 180,255 | 202,634 |
Total Loans | 181,549 | 204,173 |
90 Days Past Due & Accruing | 222 | 209 |
Consumer | Credit cards | Gross 30-89 Days Past Due | Loans, Excluding Acquired Loans | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 733 | 1,033 |
Consumer | Credit cards | 90 Days or More Past Due | Loans, Excluding Acquired Loans | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 561 | 506 |
Consumer | Other consumer | Loans, Excluding Acquired Loans | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 3,507 | 5,160 |
Current | 210,152 | 196,137 |
Total Loans | 213,659 | 201,297 |
90 Days Past Due & Accruing | 52 | 4 |
Consumer | Other consumer | Gross 30-89 Days Past Due | Loans, Excluding Acquired Loans | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 3,018 | 4,264 |
Consumer | Other consumer | 90 Days or More Past Due | Loans, Excluding Acquired Loans | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 489 | 896 |
Real estate | Loans, Excluding Acquired Loans | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 26,623 | 18,889 |
Current | 6,136,055 | 5,947,564 |
Total Loans | 6,162,678 | 5,966,453 |
90 Days Past Due & Accruing | 7 | 0 |
Real estate | Gross 30-89 Days Past Due | Loans, Excluding Acquired Loans | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 15,571 | 11,681 |
Real estate | 90 Days or More Past Due | Loans, Excluding Acquired Loans | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 11,052 | 7,208 |
Real estate | Construction | Loans, Excluding Acquired Loans | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 1,870 | 841 |
Current | 1,374,292 | 1,299,882 |
Total Loans | 1,376,162 | 1,300,723 |
90 Days Past Due & Accruing | 0 | 0 |
Real estate | Construction | Gross 30-89 Days Past Due | Loans, Excluding Acquired Loans | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 961 | 533 |
Real estate | Construction | 90 Days or More Past Due | Loans, Excluding Acquired Loans | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 909 | 308 |
Real estate | Single family residential | Loans, Excluding Acquired Loans | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 15,717 | 11,896 |
Current | 1,415,690 | 1,428,547 |
Total Loans | 1,431,407 | 1,440,443 |
90 Days Past Due & Accruing | 7 | 0 |
Real estate | Single family residential | Gross 30-89 Days Past Due | Loans, Excluding Acquired Loans | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 10,226 | 7,769 |
Real estate | Single family residential | 90 Days or More Past Due | Loans, Excluding Acquired Loans | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 5,491 | 4,127 |
Real estate | Other commercial | Loans, Excluding Acquired Loans | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 9,036 | 6,152 |
Current | 3,346,073 | 3,219,135 |
Total Loans | 3,355,109 | 3,225,287 |
90 Days Past Due & Accruing | 0 | 0 |
Real estate | Other commercial | Gross 30-89 Days Past Due | Loans, Excluding Acquired Loans | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 4,384 | 3,379 |
Real estate | Other commercial | 90 Days or More Past Due | Loans, Excluding Acquired Loans | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 4,652 | 2,773 |
Commercial | Loans, Excluding Acquired Loans | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 16,612 | 11,099 |
Current | 1,932,026 | 1,928,324 |
Total Loans | 1,948,638 | 1,939,423 |
90 Days Past Due & Accruing | 0 | 11 |
Commercial | Gross 30-89 Days Past Due | Loans, Excluding Acquired Loans | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 7,047 | 4,939 |
Commercial | 90 Days or More Past Due | Loans, Excluding Acquired Loans | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 9,565 | 6,160 |
Commercial | Commercial | Loans, Excluding Acquired Loans | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 15,456 | 9,577 |
Current | 1,785,966 | 1,765,332 |
Total Loans | 1,801,422 | 1,774,909 |
90 Days Past Due & Accruing | 0 | 11 |
Commercial | Commercial | Gross 30-89 Days Past Due | Loans, Excluding Acquired Loans | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 6,845 | 4,472 |
Commercial | Commercial | 90 Days or More Past Due | Loans, Excluding Acquired Loans | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 8,611 | 5,105 |
Commercial | Agricultural | Loans, Excluding Acquired Loans | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 1,156 | 1,522 |
Current | 146,060 | 162,992 |
Total Loans | 147,216 | 164,514 |
90 Days Past Due & Accruing | 0 | 0 |
Commercial | Agricultural | Gross 30-89 Days Past Due | Loans, Excluding Acquired Loans | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 202 | 467 |
Commercial | Agricultural | 90 Days or More Past Due | Loans, Excluding Acquired Loans | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 954 | 1,055 |
Other | Loans, Excluding Acquired Loans | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 0 | 0 |
Current | 178,026 | 119,042 |
Total Loans | 178,026 | 119,042 |
90 Days Past Due & Accruing | 0 | $ 0 |
Other | Gross 30-89 Days Past Due | Loans, Excluding Acquired Loans | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 0 | |
Other | 90 Days or More Past Due | Loans, Excluding Acquired Loans | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | $ 0 |
Loans and Allowance for Loan _7
Loans and Allowance for Loan Losses - Impaired Loans, Net of Government Guarantees and Excluding Loans Acquired, Segregated by Class of Loans (Details) - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2019 | Mar. 31, 2018 | Dec. 31, 2018 | |
Financing Receivable, Impaired [Line Items] | |||
Unpaid Contractual Principal Balance | $ 75,978 | $ 38,071 | |
Recorded Investment With No Allowance | 26,607 | 28,583 | |
Recorded Investment With Allowance | 30,972 | 11,187 | |
Total Recorded Investment | 57,579 | 39,770 | |
Related Allowance | 521 | 684 | |
Average Investment in Impaired Loans | 48,675 | $ 45,596 | |
Interest Income Recognized | 375 | 350 | |
Consumer | |||
Financing Receivable, Impaired [Line Items] | |||
Unpaid Contractual Principal Balance | 2,037 | 2,607 | |
Recorded Investment With No Allowance | 1,893 | 2,455 | |
Recorded Investment With Allowance | 0 | 0 | |
Total Recorded Investment | 1,893 | 2,455 | |
Related Allowance | 0 | 0 | |
Average Investment in Impaired Loans | 2,174 | 4,892 | |
Interest Income Recognized | 43 | 49 | |
Consumer | Credit cards | |||
Financing Receivable, Impaired [Line Items] | |||
Unpaid Contractual Principal Balance | 338 | 296 | |
Recorded Investment With No Allowance | 338 | 296 | |
Recorded Investment With Allowance | 0 | 0 | |
Total Recorded Investment | 338 | 296 | |
Related Allowance | 0 | 0 | |
Average Investment in Impaired Loans | 317 | 234 | |
Interest Income Recognized | 30 | 15 | |
Consumer | Other consumer | |||
Financing Receivable, Impaired [Line Items] | |||
Unpaid Contractual Principal Balance | 1,699 | 2,311 | |
Recorded Investment With No Allowance | 1,555 | 2,159 | |
Recorded Investment With Allowance | 0 | 0 | |
Total Recorded Investment | 1,555 | 2,159 | |
Related Allowance | 0 | 0 | |
Average Investment in Impaired Loans | 1,857 | 4,658 | |
Interest Income Recognized | 13 | 34 | |
Real estate | |||
Financing Receivable, Impaired [Line Items] | |||
Unpaid Contractual Principal Balance | 33,306 | 22,684 | |
Recorded Investment With No Allowance | 17,863 | 17,694 | |
Recorded Investment With Allowance | 7,113 | 6,559 | |
Total Recorded Investment | 24,976 | 24,253 | |
Related Allowance | 412 | 247 | |
Average Investment in Impaired Loans | 24,615 | 31,892 | |
Interest Income Recognized | 176 | 236 | |
Real estate | Construction | |||
Financing Receivable, Impaired [Line Items] | |||
Unpaid Contractual Principal Balance | 2,648 | 1,344 | |
Recorded Investment With No Allowance | 2,090 | 784 | |
Recorded Investment With Allowance | 480 | 485 | |
Total Recorded Investment | 2,570 | 1,269 | |
Related Allowance | 237 | 211 | |
Average Investment in Impaired Loans | 1,920 | 2,082 | |
Interest Income Recognized | 14 | 16 | |
Real estate | Single family residential | |||
Financing Receivable, Impaired [Line Items] | |||
Unpaid Contractual Principal Balance | 16,379 | 12,906 | |
Recorded Investment With No Allowance | 11,891 | 11,468 | |
Recorded Investment With Allowance | 3,432 | 616 | |
Total Recorded Investment | 15,323 | 12,084 | |
Related Allowance | 38 | 36 | |
Average Investment in Impaired Loans | 13,703 | 13,523 | |
Interest Income Recognized | 98 | 100 | |
Real estate | Other commercial | |||
Financing Receivable, Impaired [Line Items] | |||
Unpaid Contractual Principal Balance | 14,279 | 8,434 | |
Recorded Investment With No Allowance | 3,882 | 5,442 | |
Recorded Investment With Allowance | 3,201 | 5,458 | |
Total Recorded Investment | 7,083 | 10,900 | |
Related Allowance | 137 | 0 | |
Average Investment in Impaired Loans | 8,992 | 16,287 | |
Interest Income Recognized | 64 | 120 | |
Commercial | |||
Financing Receivable, Impaired [Line Items] | |||
Unpaid Contractual Principal Balance | 40,635 | 12,780 | |
Recorded Investment With No Allowance | 6,851 | 8,434 | |
Recorded Investment With Allowance | 23,859 | 4,628 | |
Total Recorded Investment | 30,710 | 13,062 | |
Related Allowance | 109 | 437 | |
Average Investment in Impaired Loans | 21,886 | 8,812 | |
Interest Income Recognized | 156 | 65 | |
Commercial | Commercial | |||
Financing Receivable, Impaired [Line Items] | |||
Unpaid Contractual Principal Balance | 38,420 | 10,361 | |
Recorded Investment With No Allowance | 6,268 | 7,254 | |
Recorded Investment With Allowance | 23,327 | 4,628 | |
Total Recorded Investment | 29,595 | 11,882 | |
Related Allowance | 108 | 437 | |
Average Investment in Impaired Loans | 20,739 | 7,226 | |
Interest Income Recognized | 148 | 53 | |
Commercial | Agricultural | |||
Financing Receivable, Impaired [Line Items] | |||
Unpaid Contractual Principal Balance | 2,215 | 2,419 | |
Recorded Investment With No Allowance | 583 | 1,180 | |
Recorded Investment With Allowance | 532 | 0 | |
Total Recorded Investment | 1,115 | 1,180 | |
Related Allowance | 1 | $ 0 | |
Average Investment in Impaired Loans | 1,147 | 1,586 | |
Interest Income Recognized | $ 8 | $ 12 |
Loans and Allowance for Loan _8
Loans and Allowance for Loan Losses - Troubled Debt Restructurings, Excluding Loans Acquired, Segregated by Class of Loans (Details) $ in Thousands | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2019USD ($)loan | Mar. 31, 2018loan | Dec. 31, 2018USD ($)loan | |
Financing Receivable, Modifications [Line Items] | |||
Troubled debt, number of contracts | 0 | 2 | |
Loans, Excluding Acquired Loans | |||
Financing Receivable, Modifications [Line Items] | |||
Troubled debt, number of contracts | 31 | 33 | |
Troubled debt, balance | $ | $ 8,800 | $ 9,215 | |
Loans, Excluding Acquired Loans | Accruing TDR Loans | |||
Financing Receivable, Modifications [Line Items] | |||
Troubled debt, number of contracts | 12 | 12 | |
Troubled debt, balance | $ | $ 6,297 | $ 6,369 | |
Loans, Excluding Acquired Loans | Nonaccrual TDR Loans | |||
Financing Receivable, Modifications [Line Items] | |||
Troubled debt, number of contracts | 19 | 21 | |
Troubled debt, balance | $ | $ 2,503 | $ 2,846 | |
Real estate | |||
Financing Receivable, Modifications [Line Items] | |||
Troubled debt, number of contracts | 1 | ||
Real estate | Loans, Excluding Acquired Loans | |||
Financing Receivable, Modifications [Line Items] | |||
Troubled debt, number of contracts | 22 | 23 | |
Troubled debt, balance | $ | $ 5,553 | $ 5,664 | |
Real estate | Loans, Excluding Acquired Loans | Accruing TDR Loans | |||
Financing Receivable, Modifications [Line Items] | |||
Troubled debt, number of contracts | 8 | 8 | |
Troubled debt, balance | $ | $ 3,477 | $ 3,536 | |
Real estate | Loans, Excluding Acquired Loans | Nonaccrual TDR Loans | |||
Financing Receivable, Modifications [Line Items] | |||
Troubled debt, number of contracts | 14 | 15 | |
Troubled debt, balance | $ | $ 2,076 | $ 2,128 | |
Real estate | Construction | Loans, Excluding Acquired Loans | |||
Financing Receivable, Modifications [Line Items] | |||
Troubled debt, number of contracts | 3 | 3 | |
Troubled debt, balance | $ | $ 480 | $ 485 | |
Real estate | Construction | Loans, Excluding Acquired Loans | Accruing TDR Loans | |||
Financing Receivable, Modifications [Line Items] | |||
Troubled debt, number of contracts | 0 | 0 | |
Troubled debt, balance | $ | $ 0 | $ 0 | |
Real estate | Construction | Loans, Excluding Acquired Loans | Nonaccrual TDR Loans | |||
Financing Receivable, Modifications [Line Items] | |||
Troubled debt, number of contracts | 3 | 3 | |
Troubled debt, balance | $ | $ 480 | $ 485 | |
Real estate | Single family residential | |||
Financing Receivable, Modifications [Line Items] | |||
Troubled debt, number of contracts | 1 | ||
Real estate | Single family residential | Loans, Excluding Acquired Loans | |||
Financing Receivable, Modifications [Line Items] | |||
Troubled debt, number of contracts | 15 | 16 | |
Troubled debt, balance | $ | $ 820 | $ 846 | |
Real estate | Single family residential | Loans, Excluding Acquired Loans | Accruing TDR Loans | |||
Financing Receivable, Modifications [Line Items] | |||
Troubled debt, number of contracts | 6 | 6 | |
Troubled debt, balance | $ | $ 227 | $ 230 | |
Real estate | Single family residential | Loans, Excluding Acquired Loans | Nonaccrual TDR Loans | |||
Financing Receivable, Modifications [Line Items] | |||
Troubled debt, number of contracts | 9 | 10 | |
Troubled debt, balance | $ | $ 593 | $ 616 | |
Real estate | Other commercial | Loans, Excluding Acquired Loans | |||
Financing Receivable, Modifications [Line Items] | |||
Troubled debt, number of contracts | 4 | 4 | |
Troubled debt, balance | $ | $ 4,253 | $ 4,333 | |
Real estate | Other commercial | Loans, Excluding Acquired Loans | Accruing TDR Loans | |||
Financing Receivable, Modifications [Line Items] | |||
Troubled debt, number of contracts | 2 | 2 | |
Troubled debt, balance | $ | $ 3,250 | $ 3,306 | |
Real estate | Other commercial | Loans, Excluding Acquired Loans | Nonaccrual TDR Loans | |||
Financing Receivable, Modifications [Line Items] | |||
Troubled debt, number of contracts | 2 | 2 | |
Troubled debt, balance | $ | $ 1,003 | $ 1,027 | |
Commercial | Loans, Excluding Acquired Loans | |||
Financing Receivable, Modifications [Line Items] | |||
Troubled debt, number of contracts | 9 | 10 | |
Troubled debt, balance | $ | $ 3,247 | $ 3,551 | |
Commercial | Loans, Excluding Acquired Loans | Accruing TDR Loans | |||
Financing Receivable, Modifications [Line Items] | |||
Troubled debt, number of contracts | 4 | 4 | |
Troubled debt, balance | $ | $ 2,820 | $ 2,833 | |
Commercial | Loans, Excluding Acquired Loans | Nonaccrual TDR Loans | |||
Financing Receivable, Modifications [Line Items] | |||
Troubled debt, number of contracts | 5 | 6 | |
Troubled debt, balance | $ | $ 427 | $ 718 | |
Commercial | Commercial | Loans, Excluding Acquired Loans | |||
Financing Receivable, Modifications [Line Items] | |||
Troubled debt, number of contracts | 9 | 10 | |
Troubled debt, balance | $ | $ 3,247 | $ 3,551 | |
Commercial | Commercial | Loans, Excluding Acquired Loans | Accruing TDR Loans | |||
Financing Receivable, Modifications [Line Items] | |||
Troubled debt, number of contracts | 4 | 4 | |
Troubled debt, balance | $ | $ 2,820 | $ 2,833 | |
Commercial | Commercial | Loans, Excluding Acquired Loans | Nonaccrual TDR Loans | |||
Financing Receivable, Modifications [Line Items] | |||
Troubled debt, number of contracts | 5 | 6 | |
Troubled debt, balance | $ | $ 427 | $ 718 |
Loans and Allowance for Loan _9
Loans and Allowance for Loan Losses - Loans Restructured as TDRs, Excluding Loans Acquired, Segregated by Class of Loans (Details) $ in Thousands | 3 Months Ended | |
Mar. 31, 2019USD ($)loan | Mar. 31, 2018USD ($)loan | |
Financing Receivable, Modifications [Line Items] | ||
Number of Loans | loan | 0 | 2 |
Balance Prior to TDR | $ 152 | |
Balance | 153 | |
Financial Impact on Date of Restructure | $ 0 | |
Change in Maturity Date | ||
Financing Receivable, Modifications [Line Items] | ||
Balance | 153 | |
Change in Rate | ||
Financing Receivable, Modifications [Line Items] | ||
Balance | $ 0 | |
Consumer | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Loans | loan | 1 | |
Balance Prior to TDR | $ 91 | |
Balance | 91 | |
Financial Impact on Date of Restructure | 0 | |
Consumer | Change in Maturity Date | ||
Financing Receivable, Modifications [Line Items] | ||
Balance | 91 | |
Consumer | Change in Rate | ||
Financing Receivable, Modifications [Line Items] | ||
Balance | $ 0 | |
Consumer | Other consumer | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Loans | loan | 1 | |
Balance Prior to TDR | $ 91 | |
Balance | 91 | |
Financial Impact on Date of Restructure | 0 | |
Consumer | Other consumer | Change in Maturity Date | ||
Financing Receivable, Modifications [Line Items] | ||
Balance | 91 | |
Consumer | Other consumer | Change in Rate | ||
Financing Receivable, Modifications [Line Items] | ||
Balance | $ 0 | |
Real estate | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Loans | loan | 1 | |
Balance Prior to TDR | $ 61 | |
Balance | 62 | |
Financial Impact on Date of Restructure | 0 | |
Real estate | Change in Maturity Date | ||
Financing Receivable, Modifications [Line Items] | ||
Balance | 62 | |
Real estate | Change in Rate | ||
Financing Receivable, Modifications [Line Items] | ||
Balance | $ 0 | |
Real estate | Single family residential | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Loans | loan | 1 | |
Balance Prior to TDR | $ 61 | |
Balance | 62 | |
Financial Impact on Date of Restructure | 0 | |
Real estate | Single family residential | Change in Maturity Date | ||
Financing Receivable, Modifications [Line Items] | ||
Balance | 62 | |
Real estate | Single family residential | Change in Rate | ||
Financing Receivable, Modifications [Line Items] | ||
Balance | $ 0 |
Loans and Allowance for Loan_10
Loans and Allowance for Loan Losses - Loans by Credit Risk Rating, Segregated by Class of Loans (Details) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | $ 11,740,737 | $ 11,723,171 |
Risk Rate 1-4 | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 11,484,631 | 11,523,787 |
Risk Rate 5 | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 78,751 | 80,394 |
Risk Rate 6 | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 176,789 | 118,407 |
Risk Rate 7 | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 566 | 583 |
Risk Rate 8 | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 0 | 0 |
Loans, Excluding Acquired Loans | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 8,684,550 | 8,430,388 |
Loans, Excluding Acquired Loans | Consumer | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 395,208 | 405,470 |
Loans, Excluding Acquired Loans | Consumer | Risk Rate 1-4 | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 392,630 | 402,507 |
Loans, Excluding Acquired Loans | Consumer | Risk Rate 5 | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 0 | 0 |
Loans, Excluding Acquired Loans | Consumer | Risk Rate 6 | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 2,578 | 2,963 |
Loans, Excluding Acquired Loans | Consumer | Risk Rate 7 | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 0 | 0 |
Loans, Excluding Acquired Loans | Consumer | Risk Rate 8 | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 0 | 0 |
Loans, Excluding Acquired Loans | Consumer | Credit cards | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 181,549 | 204,173 |
Loans, Excluding Acquired Loans | Consumer | Credit cards | Risk Rate 1-4 | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 180,988 | 203,667 |
Loans, Excluding Acquired Loans | Consumer | Credit cards | Risk Rate 5 | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 0 | 0 |
Loans, Excluding Acquired Loans | Consumer | Credit cards | Risk Rate 6 | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 561 | 506 |
Loans, Excluding Acquired Loans | Consumer | Credit cards | Risk Rate 7 | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 0 | 0 |
Loans, Excluding Acquired Loans | Consumer | Credit cards | Risk Rate 8 | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 0 | 0 |
Loans, Excluding Acquired Loans | Consumer | Other consumer | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 213,659 | 201,297 |
Loans, Excluding Acquired Loans | Consumer | Other consumer | Risk Rate 1-4 | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 211,642 | 198,840 |
Loans, Excluding Acquired Loans | Consumer | Other consumer | Risk Rate 5 | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 0 | 0 |
Loans, Excluding Acquired Loans | Consumer | Other consumer | Risk Rate 6 | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 2,017 | 2,457 |
Loans, Excluding Acquired Loans | Consumer | Other consumer | Risk Rate 7 | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 0 | 0 |
Loans, Excluding Acquired Loans | Consumer | Other consumer | Risk Rate 8 | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 0 | 0 |
Loans, Excluding Acquired Loans | Real estate | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 6,162,678 | 5,966,453 |
Loans, Excluding Acquired Loans | Real estate | Risk Rate 1-4 | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 6,092,806 | 5,910,329 |
Loans, Excluding Acquired Loans | Real estate | Risk Rate 5 | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 23,856 | 20,707 |
Loans, Excluding Acquired Loans | Real estate | Risk Rate 6 | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 45,786 | 35,182 |
Loans, Excluding Acquired Loans | Real estate | Risk Rate 7 | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 230 | 235 |
Loans, Excluding Acquired Loans | Real estate | Risk Rate 8 | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 0 | 0 |
Loans, Excluding Acquired Loans | Real estate | Construction | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 1,376,162 | 1,300,723 |
Loans, Excluding Acquired Loans | Real estate | Construction | Risk Rate 1-4 | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 1,372,113 | 1,296,988 |
Loans, Excluding Acquired Loans | Real estate | Construction | Risk Rate 5 | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 443 | 1,910 |
Loans, Excluding Acquired Loans | Real estate | Construction | Risk Rate 6 | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 3,606 | 1,825 |
Loans, Excluding Acquired Loans | Real estate | Construction | Risk Rate 7 | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 0 | 0 |
Loans, Excluding Acquired Loans | Real estate | Construction | Risk Rate 8 | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 0 | 0 |
Loans, Excluding Acquired Loans | Real estate | Single family residential | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 1,431,407 | 1,440,443 |
Loans, Excluding Acquired Loans | Real estate | Single family residential | Risk Rate 1-4 | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 1,407,554 | 1,420,052 |
Loans, Excluding Acquired Loans | Real estate | Single family residential | Risk Rate 5 | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 1,784 | 1,628 |
Loans, Excluding Acquired Loans | Real estate | Single family residential | Risk Rate 6 | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 21,839 | 18,528 |
Loans, Excluding Acquired Loans | Real estate | Single family residential | Risk Rate 7 | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 230 | 235 |
Loans, Excluding Acquired Loans | Real estate | Single family residential | Risk Rate 8 | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 0 | 0 |
Loans, Excluding Acquired Loans | Real estate | Other commercial | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 3,355,109 | 3,225,287 |
Loans, Excluding Acquired Loans | Real estate | Other commercial | Risk Rate 1-4 | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 3,313,139 | 3,193,289 |
Loans, Excluding Acquired Loans | Real estate | Other commercial | Risk Rate 5 | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 21,629 | 17,169 |
Loans, Excluding Acquired Loans | Real estate | Other commercial | Risk Rate 6 | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 20,341 | 14,829 |
Loans, Excluding Acquired Loans | Real estate | Other commercial | Risk Rate 7 | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 0 | 0 |
Loans, Excluding Acquired Loans | Real estate | Other commercial | Risk Rate 8 | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 0 | 0 |
Loans, Excluding Acquired Loans | Commercial | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 1,948,638 | 1,939,423 |
Loans, Excluding Acquired Loans | Commercial | Risk Rate 1-4 | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 1,890,990 | 1,904,826 |
Loans, Excluding Acquired Loans | Commercial | Risk Rate 5 | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 9,738 | 8,432 |
Loans, Excluding Acquired Loans | Commercial | Risk Rate 6 | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 47,910 | 26,165 |
Loans, Excluding Acquired Loans | Commercial | Risk Rate 7 | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 0 | 0 |
Loans, Excluding Acquired Loans | Commercial | Risk Rate 8 | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 0 | 0 |
Loans, Excluding Acquired Loans | Commercial | Commercial | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 1,801,422 | 1,774,909 |
Loans, Excluding Acquired Loans | Commercial | Commercial | Risk Rate 1-4 | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 1,745,162 | 1,742,002 |
Loans, Excluding Acquired Loans | Commercial | Commercial | Risk Rate 5 | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 9,671 | 8,357 |
Loans, Excluding Acquired Loans | Commercial | Commercial | Risk Rate 6 | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 46,589 | 24,550 |
Loans, Excluding Acquired Loans | Commercial | Commercial | Risk Rate 7 | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 0 | 0 |
Loans, Excluding Acquired Loans | Commercial | Commercial | Risk Rate 8 | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 0 | 0 |
Loans, Excluding Acquired Loans | Commercial | Agricultural | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 147,216 | 164,514 |
Loans, Excluding Acquired Loans | Commercial | Agricultural | Risk Rate 1-4 | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 145,828 | 162,824 |
Loans, Excluding Acquired Loans | Commercial | Agricultural | Risk Rate 5 | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 67 | 75 |
Loans, Excluding Acquired Loans | Commercial | Agricultural | Risk Rate 6 | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 1,321 | 1,615 |
Loans, Excluding Acquired Loans | Commercial | Agricultural | Risk Rate 7 | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 0 | 0 |
Loans, Excluding Acquired Loans | Commercial | Agricultural | Risk Rate 8 | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 0 | 0 |
Loans, Excluding Acquired Loans | Other | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 178,026 | 119,042 |
Loans, Excluding Acquired Loans | Other | Risk Rate 1-4 | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 178,026 | 119,042 |
Loans, Excluding Acquired Loans | Other | Risk Rate 5 | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 0 | 0 |
Loans, Excluding Acquired Loans | Other | Risk Rate 6 | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 0 | 0 |
Loans, Excluding Acquired Loans | Other | Risk Rate 7 | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 0 | 0 |
Loans, Excluding Acquired Loans | Other | Risk Rate 8 | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 0 | 0 |
Loans Acquired | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 3,056,187 | 3,292,783 |
Loans Acquired | Risk Rate 1-4 | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 2,930,179 | 3,187,083 |
Loans Acquired | Risk Rate 5 | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 45,157 | 51,255 |
Loans Acquired | Risk Rate 6 | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 80,515 | 54,097 |
Loans Acquired | Risk Rate 7 | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 336 | 348 |
Loans Acquired | Risk Rate 8 | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 0 | 0 |
Loans Acquired | Consumer | Other consumer | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 11,979 | 15,658 |
Loans Acquired | Consumer | Other consumer | Risk Rate 1-4 | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 11,715 | 15,380 |
Loans Acquired | Consumer | Other consumer | Risk Rate 5 | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 0 | 0 |
Loans Acquired | Consumer | Other consumer | Risk Rate 6 | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 264 | 278 |
Loans Acquired | Consumer | Other consumer | Risk Rate 7 | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 0 | 0 |
Loans Acquired | Consumer | Other consumer | Risk Rate 8 | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 0 | 0 |
Loans Acquired | Real estate | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 2,668,901 | 2,844,472 |
Loans Acquired | Real estate | Risk Rate 1-4 | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 2,564,477 | 2,768,761 |
Loans Acquired | Real estate | Risk Rate 5 | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 41,418 | 38,839 |
Loans Acquired | Real estate | Risk Rate 6 | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 62,670 | 36,524 |
Loans Acquired | Real estate | Risk Rate 7 | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 336 | 348 |
Loans Acquired | Real estate | Risk Rate 8 | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 0 | 0 |
Loans Acquired | Real estate | Construction | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 404,512 | 429,605 |
Loans Acquired | Real estate | Construction | Risk Rate 1-4 | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 369,267 | 393,122 |
Loans Acquired | Real estate | Construction | Risk Rate 5 | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 27,475 | 27,621 |
Loans Acquired | Real estate | Construction | Risk Rate 6 | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 7,770 | 8,862 |
Loans Acquired | Real estate | Construction | Risk Rate 7 | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 0 | 0 |
Loans Acquired | Real estate | Construction | Risk Rate 8 | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 0 | 0 |
Loans Acquired | Real estate | Single family residential | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 533,917 | 566,188 |
Loans Acquired | Real estate | Single family residential | Risk Rate 1-4 | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 520,159 | 553,460 |
Loans Acquired | Real estate | Single family residential | Risk Rate 5 | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 2,049 | 2,081 |
Loans Acquired | Real estate | Single family residential | Risk Rate 6 | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 11,373 | 10,299 |
Loans Acquired | Real estate | Single family residential | Risk Rate 7 | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 336 | 348 |
Loans Acquired | Real estate | Single family residential | Risk Rate 8 | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 0 | 0 |
Loans Acquired | Real estate | Other commercial | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 1,730,472 | 1,848,679 |
Loans Acquired | Real estate | Other commercial | Risk Rate 1-4 | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 1,675,051 | 1,822,179 |
Loans Acquired | Real estate | Other commercial | Risk Rate 5 | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 11,894 | 9,137 |
Loans Acquired | Real estate | Other commercial | Risk Rate 6 | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 43,527 | 17,363 |
Loans Acquired | Real estate | Other commercial | Risk Rate 7 | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 0 | 0 |
Loans Acquired | Real estate | Other commercial | Risk Rate 8 | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 0 | 0 |
Loans Acquired | Commercial | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 375,307 | 432,653 |
Loans Acquired | Commercial | Risk Rate 1-4 | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 353,987 | 402,942 |
Loans Acquired | Commercial | Risk Rate 5 | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 3,739 | 12,416 |
Loans Acquired | Commercial | Risk Rate 6 | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 17,581 | 17,295 |
Loans Acquired | Commercial | Risk Rate 7 | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 0 | 0 |
Loans Acquired | Commercial | Risk Rate 8 | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 0 | 0 |
Loans Acquired | Commercial | Commercial | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 374,033 | 430,914 |
Loans Acquired | Commercial | Commercial | Risk Rate 1-4 | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 352,779 | 401,300 |
Loans Acquired | Commercial | Commercial | Risk Rate 5 | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 3,739 | 12,416 |
Loans Acquired | Commercial | Commercial | Risk Rate 6 | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 17,515 | 17,198 |
Loans Acquired | Commercial | Commercial | Risk Rate 7 | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 0 | 0 |
Loans Acquired | Commercial | Commercial | Risk Rate 8 | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 0 | 0 |
Loans Acquired | Commercial | Agricultural | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 1,274 | 1,739 |
Loans Acquired | Commercial | Agricultural | Risk Rate 1-4 | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 1,208 | 1,642 |
Loans Acquired | Commercial | Agricultural | Risk Rate 5 | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 0 | 0 |
Loans Acquired | Commercial | Agricultural | Risk Rate 6 | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 66 | 97 |
Loans Acquired | Commercial | Agricultural | Risk Rate 7 | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 0 | 0 |
Loans Acquired | Commercial | Agricultural | Risk Rate 8 | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | $ 0 | $ 0 |
Loans and Allowance for Loan_11
Loans and Allowance for Loan Losses - Activity in the Allowance for Loan Losses, by Portfolio Segment, for the Current Year (Details) - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2019 | Mar. 31, 2018 | Dec. 31, 2018 | |
Allowance for Loan and Lease Losses [Roll Forward] | |||
Balance, beginning of period | $ 56,694 | $ 42,086 | |
Provision for loan losses | 9,285 | 9,150 | |
Balance, end of year | 60,555 | 47,614 | |
Loans, Excluding Acquired Loans | |||
Allowance for Loan and Lease Losses [Roll Forward] | |||
Balance, beginning of period | 56,599 | 41,668 | |
Provision for loan losses | 6,821 | 9,082 | |
Charge-offs | (5,017) | (4,271) | |
Recoveries | 840 | 728 | |
Net charge-offs | (4,177) | (3,543) | |
Balance, end of year | 59,243 | 47,207 | |
Period-end amount allocated to: | |||
Loans individually evaluated for impairment | 521 | 444 | $ 684 |
Loans collectively evaluated for impairment | 58,722 | 46,763 | 55,915 |
Loans, Excluding Acquired Loans | Other Consumer and Other | |||
Allowance for Loan and Lease Losses [Roll Forward] | |||
Balance, beginning of period | 2,419 | 3,596 | |
Provision for loan losses | 1,206 | 759 | |
Charge-offs | (1,533) | (1,056) | |
Recoveries | 300 | 94 | |
Net charge-offs | (1,233) | (962) | |
Balance, end of year | 2,392 | 3,393 | |
Period-end amount allocated to: | |||
Loans individually evaluated for impairment | 0 | 0 | 0 |
Loans collectively evaluated for impairment | 2,392 | 3,393 | 2,419 |
Loans, Excluding Acquired Loans | Commercial | |||
Allowance for Loan and Lease Losses [Roll Forward] | |||
Balance, beginning of period | 20,514 | 7,007 | |
Provision for loan losses | 1,874 | 4,286 | |
Charge-offs | (1,968) | (1,761) | |
Recoveries | 158 | 69 | |
Net charge-offs | (1,810) | (1,692) | |
Balance, end of year | 20,578 | 9,601 | |
Period-end amount allocated to: | |||
Loans individually evaluated for impairment | 109 | 18 | 437 |
Loans collectively evaluated for impairment | 20,469 | 9,583 | 20,077 |
Loans, Excluding Acquired Loans | Real estate | |||
Allowance for Loan and Lease Losses [Roll Forward] | |||
Balance, beginning of period | 29,743 | 27,281 | |
Provision for loan losses | 2,843 | 3,286 | |
Charge-offs | (374) | (455) | |
Recoveries | 142 | 302 | |
Net charge-offs | (232) | (153) | |
Balance, end of year | 32,354 | 30,414 | |
Period-end amount allocated to: | |||
Loans individually evaluated for impairment | 412 | 426 | 247 |
Loans collectively evaluated for impairment | 31,942 | 29,988 | 29,496 |
Loans, Excluding Acquired Loans | Consumer | Credit cards | |||
Allowance for Loan and Lease Losses [Roll Forward] | |||
Balance, beginning of period | 3,923 | 3,784 | |
Provision for loan losses | 898 | 751 | |
Charge-offs | (1,142) | (999) | |
Recoveries | 240 | 263 | |
Net charge-offs | (902) | (736) | |
Balance, end of year | 3,919 | 3,799 | |
Period-end amount allocated to: | |||
Loans individually evaluated for impairment | 0 | 0 | 0 |
Loans collectively evaluated for impairment | 3,919 | 3,799 | $ 3,923 |
Loans Acquired | |||
Allowance for Loan and Lease Losses [Roll Forward] | |||
Balance, beginning of period | 95 | 418 | |
Provision for loan losses | 2,464 | 68 | |
Charge-offs | (1,247) | (79) | |
Balance, end of year | $ 1,312 | $ 407 |
Loans and Allowance for Loan_12
Loans and Allowance for Loan Losses - Recorded Investment in Loans, Excluding Loans Acquired (Details) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total Loans | $ 11,740,737 | $ 11,723,171 |
Loans, Excluding Acquired Loans | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Loans individually evaluated for impairment | 57,579 | 39,770 |
Loans collectively evaluated for impairment | 8,626,971 | 8,390,618 |
Total Loans | 8,684,550 | 8,430,388 |
Loans, Excluding Acquired Loans | Other Consumer and Other | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Loans individually evaluated for impairment | 1,555 | 2,159 |
Loans collectively evaluated for impairment | 390,130 | 318,180 |
Total Loans | 391,685 | 320,339 |
Loans, Excluding Acquired Loans | Commercial | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Loans individually evaluated for impairment | 30,710 | 13,062 |
Loans collectively evaluated for impairment | 1,917,928 | 1,926,361 |
Total Loans | 1,948,638 | 1,939,423 |
Loans, Excluding Acquired Loans | Real estate | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Loans individually evaluated for impairment | 24,976 | 24,253 |
Loans collectively evaluated for impairment | 6,137,702 | 5,942,200 |
Total Loans | 6,162,678 | 5,966,453 |
Loans, Excluding Acquired Loans | Consumer | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total Loans | 395,208 | 405,470 |
Loans, Excluding Acquired Loans | Consumer | Credit cards | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Loans individually evaluated for impairment | 338 | 296 |
Loans collectively evaluated for impairment | 181,211 | 203,877 |
Total Loans | $ 181,549 | $ 204,173 |
Loans Acquired - Textual (Detai
Loans Acquired - Textual (Details) - USD ($) $ in Thousands | 3 Months Ended | |||
Mar. 31, 2019 | Mar. 31, 2018 | Dec. 31, 2018 | Dec. 31, 2017 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Allowance for loan losses | $ 60,555 | $ 47,614 | $ 56,694 | $ 42,086 |
Provision for loan losses | 9,285 | 9,150 | ||
Loans acquired, net | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Allowance for loan losses | 1,312 | 407 | $ 95 | $ 418 |
Provision for loan losses | $ 2,464 | $ 68 |
Loans Acquired - Carrying Value
Loans Acquired - Carrying Value of all Acquired Impaired Loans (Details) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 | Mar. 31, 2018 | Dec. 31, 2017 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Acquired loans | $ 11,740,737 | $ 11,723,171 | ||
Allowance for loan losses | 60,555 | 56,694 | $ 47,614 | $ 42,086 |
Loans Acquired | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Acquired loans | 3,056,187 | 3,292,783 | ||
Allowance for loan losses | 1,312 | 95 | $ 407 | $ 418 |
Loans Acquired | Consumer | Other consumer | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Acquired loans | 11,979 | 15,658 | ||
Loans Acquired | Real estate | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Acquired loans | 2,668,901 | 2,844,472 | ||
Loans Acquired | Real estate | Construction | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Acquired loans | 404,512 | 429,605 | ||
Loans Acquired | Real estate | Single family residential | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Acquired loans | 533,917 | 566,188 | ||
Loans Acquired | Real estate | Other commercial | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Acquired loans | 1,730,472 | 1,848,679 | ||
Loans Acquired | Commercial | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Acquired loans | 375,307 | 432,653 | ||
Loans Acquired | Commercial | Commercial | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Acquired loans | 374,033 | 430,914 | ||
Loans Acquired | Commercial | Agricultural | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Acquired loans | $ 1,274 | $ 1,739 |
Loans Acquired - Nonaccrual Acq
Loans Acquired - Nonaccrual Acquired Loans (Details) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans in nonaccrual status | $ 60,925 | $ 34,201 |
Consumer | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans in nonaccrual status | 1,893 | 2,455 |
Consumer | Other consumer | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans in nonaccrual status | 1,555 | 2,159 |
Real estate | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans in nonaccrual status | 26,506 | 20,413 |
Real estate | Construction | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans in nonaccrual status | 2,570 | 1,269 |
Real estate | Single family residential | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans in nonaccrual status | 15,324 | 11,939 |
Real estate | Other commercial | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans in nonaccrual status | 8,612 | 7,205 |
Commercial | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans in nonaccrual status | 32,526 | 11,333 |
Commercial | Commercial | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans in nonaccrual status | 31,409 | 10,049 |
Commercial | Agricultural | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans in nonaccrual status | 1,117 | 1,284 |
Loans Acquired | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans in nonaccrual status | 18,731 | 21,640 |
Loans Acquired | Consumer | Other consumer | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans in nonaccrual status | 149 | 140 |
Loans Acquired | Real estate | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans in nonaccrual status | 15,445 | 7,884 |
Loans Acquired | Real estate | Construction | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans in nonaccrual status | 130 | 114 |
Loans Acquired | Real estate | Single family residential | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans in nonaccrual status | 6,342 | 6,603 |
Loans Acquired | Real estate | Other commercial | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans in nonaccrual status | 8,973 | 1,167 |
Loans Acquired | Commercial | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans in nonaccrual status | 3,137 | 13,616 |
Loans Acquired | Commercial | Commercial | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans in nonaccrual status | 3,117 | 13,578 |
Loans Acquired | Commercial | Agricultural | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans in nonaccrual status | $ 20 | $ 38 |
Loans Acquired - Age Analysis o
Loans Acquired - Age Analysis of Past Due Acquired Loans, Excluding Loans Covered by Loss Share (Details) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | $ 11,740,737 | $ 11,723,171 |
Loans Acquired | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 38,449 | 28,076 |
Current | 3,017,738 | 3,264,707 |
Total Loans | 3,056,187 | 3,292,783 |
90 Days Past Due & Accruing | 24 | 2 |
Loans Acquired | Gross 30-89 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 12,727 | 14,827 |
Loans Acquired | 90 Days or More Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 25,722 | 13,249 |
Loans Acquired | Consumer | Other consumer | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 171 | 386 |
Current | 11,808 | 15,272 |
Total Loans | 11,979 | 15,658 |
90 Days Past Due & Accruing | 0 | 2 |
Loans Acquired | Consumer | Other consumer | Gross 30-89 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 94 | 337 |
Loans Acquired | Consumer | Other consumer | 90 Days or More Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 77 | 49 |
Loans Acquired | Real estate | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 24,340 | 16,810 |
Current | 2,644,561 | 2,827,662 |
Total Loans | 2,668,901 | 2,844,472 |
90 Days Past Due & Accruing | 24 | 0 |
Loans Acquired | Real estate | Gross 30-89 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 5,368 | 13,157 |
Loans Acquired | Real estate | 90 Days or More Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 18,972 | 3,653 |
Loans Acquired | Real estate | Construction | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 8,127 | 8,310 |
Current | 396,385 | 421,295 |
Total Loans | 404,512 | 429,605 |
90 Days Past Due & Accruing | 0 | 0 |
Loans Acquired | Real estate | Construction | Gross 30-89 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 5 | 8,283 |
Loans Acquired | Real estate | Construction | 90 Days or More Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 8,122 | 27 |
Loans Acquired | Real estate | Single family residential | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 7,641 | 7,755 |
Current | 526,276 | 558,433 |
Total Loans | 533,917 | 566,188 |
90 Days Past Due & Accruing | 24 | 0 |
Loans Acquired | Real estate | Single family residential | Gross 30-89 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 5,058 | 4,706 |
Loans Acquired | Real estate | Single family residential | 90 Days or More Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 2,583 | 3,049 |
Loans Acquired | Real estate | Other commercial | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 8,572 | 745 |
Current | 1,721,900 | 1,847,934 |
Total Loans | 1,730,472 | 1,848,679 |
90 Days Past Due & Accruing | 0 | 0 |
Loans Acquired | Real estate | Other commercial | Gross 30-89 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 305 | 168 |
Loans Acquired | Real estate | Other commercial | 90 Days or More Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 8,267 | 577 |
Loans Acquired | Commercial | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 13,938 | 10,880 |
Current | 361,369 | 421,773 |
Total Loans | 375,307 | 432,653 |
90 Days Past Due & Accruing | 0 | 0 |
Loans Acquired | Commercial | Gross 30-89 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 7,265 | 1,333 |
Loans Acquired | Commercial | 90 Days or More Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 6,673 | 9,547 |
Loans Acquired | Commercial | Commercial | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 13,938 | 10,844 |
Current | 360,095 | 420,070 |
Total Loans | 374,033 | 430,914 |
90 Days Past Due & Accruing | 0 | 0 |
Loans Acquired | Commercial | Commercial | Gross 30-89 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 7,265 | 1,302 |
Loans Acquired | Commercial | Commercial | 90 Days or More Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 6,673 | 9,542 |
Loans Acquired | Commercial | Agricultural | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 0 | 36 |
Current | 1,274 | 1,703 |
Total Loans | 1,274 | 1,739 |
90 Days Past Due & Accruing | 0 | 0 |
Loans Acquired | Commercial | Agricultural | Gross 30-89 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 0 | 31 |
Loans Acquired | Commercial | Agricultural | 90 Days or More Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | $ 0 | $ 5 |
Loans Acquired - Summary of Acq
Loans Acquired - Summary of Acquired Loans, Excluding Loans Covered by Loss Share (Details) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | $ 11,740,737 | $ 11,723,171 |
Loans acquired, net | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 3,056,187 | 3,292,783 |
Risk Rate 1-4 | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 11,484,631 | 11,523,787 |
Risk Rate 1-4 | Loans acquired, net | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 2,930,179 | 3,187,083 |
Risk Rate 5 | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 78,751 | 80,394 |
Risk Rate 5 | Loans acquired, net | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 45,157 | 51,255 |
Risk Rate 6 | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 176,789 | 118,407 |
Risk Rate 6 | Loans acquired, net | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 80,515 | 54,097 |
Risk Rate 7 | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 566 | 583 |
Risk Rate 7 | Loans acquired, net | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 336 | 348 |
Risk Rate 8 | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 0 | 0 |
Risk Rate 8 | Loans acquired, net | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 0 | 0 |
Consumer | Other consumer | Loans acquired, net | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 11,979 | 15,658 |
Consumer | Other consumer | Risk Rate 1-4 | Loans acquired, net | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 11,715 | 15,380 |
Consumer | Other consumer | Risk Rate 5 | Loans acquired, net | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 0 | 0 |
Consumer | Other consumer | Risk Rate 6 | Loans acquired, net | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 264 | 278 |
Consumer | Other consumer | Risk Rate 7 | Loans acquired, net | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 0 | 0 |
Consumer | Other consumer | Risk Rate 8 | Loans acquired, net | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 0 | 0 |
Real estate | Loans acquired, net | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 2,668,901 | 2,844,472 |
Real estate | Risk Rate 1-4 | Loans acquired, net | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 2,564,477 | 2,768,761 |
Real estate | Risk Rate 5 | Loans acquired, net | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 41,418 | 38,839 |
Real estate | Risk Rate 6 | Loans acquired, net | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 62,670 | 36,524 |
Real estate | Risk Rate 7 | Loans acquired, net | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 336 | 348 |
Real estate | Risk Rate 8 | Loans acquired, net | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 0 | 0 |
Real estate | Construction | Loans acquired, net | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 404,512 | 429,605 |
Real estate | Construction | Risk Rate 1-4 | Loans acquired, net | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 369,267 | 393,122 |
Real estate | Construction | Risk Rate 5 | Loans acquired, net | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 27,475 | 27,621 |
Real estate | Construction | Risk Rate 6 | Loans acquired, net | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 7,770 | 8,862 |
Real estate | Construction | Risk Rate 7 | Loans acquired, net | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 0 | 0 |
Real estate | Construction | Risk Rate 8 | Loans acquired, net | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 0 | 0 |
Real estate | Single family residential | Loans acquired, net | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 533,917 | 566,188 |
Real estate | Single family residential | Risk Rate 1-4 | Loans acquired, net | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 520,159 | 553,460 |
Real estate | Single family residential | Risk Rate 5 | Loans acquired, net | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 2,049 | 2,081 |
Real estate | Single family residential | Risk Rate 6 | Loans acquired, net | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 11,373 | 10,299 |
Real estate | Single family residential | Risk Rate 7 | Loans acquired, net | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 336 | 348 |
Real estate | Single family residential | Risk Rate 8 | Loans acquired, net | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 0 | 0 |
Real estate | Other commercial | Loans acquired, net | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 1,730,472 | 1,848,679 |
Real estate | Other commercial | Risk Rate 1-4 | Loans acquired, net | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 1,675,051 | 1,822,179 |
Real estate | Other commercial | Risk Rate 5 | Loans acquired, net | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 11,894 | 9,137 |
Real estate | Other commercial | Risk Rate 6 | Loans acquired, net | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 43,527 | 17,363 |
Real estate | Other commercial | Risk Rate 7 | Loans acquired, net | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 0 | 0 |
Real estate | Other commercial | Risk Rate 8 | Loans acquired, net | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 0 | 0 |
Commercial | Loans acquired, net | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 375,307 | 432,653 |
Commercial | Risk Rate 1-4 | Loans acquired, net | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 353,987 | 402,942 |
Commercial | Risk Rate 5 | Loans acquired, net | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 3,739 | 12,416 |
Commercial | Risk Rate 6 | Loans acquired, net | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 17,581 | 17,295 |
Commercial | Risk Rate 7 | Loans acquired, net | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 0 | 0 |
Commercial | Risk Rate 8 | Loans acquired, net | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 0 | 0 |
Commercial | Commercial | Loans acquired, net | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 374,033 | 430,914 |
Commercial | Commercial | Risk Rate 1-4 | Loans acquired, net | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 352,779 | 401,300 |
Commercial | Commercial | Risk Rate 5 | Loans acquired, net | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 3,739 | 12,416 |
Commercial | Commercial | Risk Rate 6 | Loans acquired, net | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 17,515 | 17,198 |
Commercial | Commercial | Risk Rate 7 | Loans acquired, net | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 0 | 0 |
Commercial | Commercial | Risk Rate 8 | Loans acquired, net | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 0 | 0 |
Commercial | Agricultural | Loans acquired, net | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 1,274 | 1,739 |
Commercial | Agricultural | Risk Rate 1-4 | Loans acquired, net | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 1,208 | 1,642 |
Commercial | Agricultural | Risk Rate 5 | Loans acquired, net | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 0 | 0 |
Commercial | Agricultural | Risk Rate 6 | Loans acquired, net | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 66 | 97 |
Commercial | Agricultural | Risk Rate 7 | Loans acquired, net | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 0 | 0 |
Commercial | Agricultural | Risk Rate 8 | Loans acquired, net | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | $ 0 | $ 0 |
Loans Acquired - Changes in the
Loans Acquired - Changes in the Carrying Amount of the Accretable Yield for All Purchased Impaired and Non-impaired Loans (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Accretable Yield | ||
Beginning balance | $ 1,460 | $ 620 |
Additions | 0 | 0 |
Accretable yield adjustments | 17 | 1,134 |
Accretion | (9) | (385) |
Payments and other reductions, net | 0 | 0 |
Balance, ending | 1,468 | 1,369 |
Carrying Amount of Loans | ||
Beginning balance | 4,050 | 17,116 |
Additions | 0 | 0 |
Accretion | 9 | 385 |
Payments and other reductions, net | (408) | 104 |
Balance, ending | $ 3,651 | $ 17,605 |
Right-of-Use Lease Assets and_2
Right-of-Use Lease Assets and Lease Liabilities (Details) $ in Millions | 3 Months Ended |
Mar. 31, 2019USD ($) | |
Leases [Abstract] | |
Operating lease, right-of-use asset | $ 30.5 |
Operating lease, liability | 30.4 |
Operating lease, expense | $ 2.6 |
Operating ease, weighted average discount rate, percent | 3.46% |
Operating lease, weighted average remaining lease term | 9 years 3 months 15 days |
Goodwill and Other Intangible_3
Goodwill and Other Intangible Assets - Textual (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2019 | Dec. 31, 2018 | |
Goodwill and Intangible Assets Disclosure [Abstract] | ||
Goodwill | $ 845,687 | $ 845,687 |
Minimum | ||
Finite-Lived Intangible Assets [Line Items] | ||
Useful life | 10 years | |
Maximum | ||
Finite-Lived Intangible Assets [Line Items] | ||
Useful life | 15 years | |
Core Deposit Premium | Minimum | ||
Finite-Lived Intangible Assets [Line Items] | ||
Useful life | 10 years | |
Core Deposit Premium | Maximum | ||
Finite-Lived Intangible Assets [Line Items] | ||
Useful life | 15 years |
Goodwill and Other Intangible_4
Goodwill and Other Intangible Assets - Goodwill and Other Intangibles (Details) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
Goodwill and Intangible Assets Disclosure [Abstract] | ||
Goodwill | $ 845,687 | $ 845,687 |
Finite-Lived Intangible Assets [Line Items] | ||
Other intangible assets, net | 88,694 | 91,334 |
Total goodwill and other intangible assets | 934,381 | 937,021 |
Core Deposit Premium | ||
Finite-Lived Intangible Assets [Line Items] | ||
Gross carrying amount | 105,984 | 105,984 |
Accumulated amortization | (28,552) | (26,177) |
Other intangible assets, net | 77,432 | 79,807 |
Books of Business Intangible | ||
Finite-Lived Intangible Assets [Line Items] | ||
Gross carrying amount | 15,234 | 15,234 |
Accumulated amortization | (3,972) | (3,707) |
Other intangible assets, net | $ 11,262 | $ 11,527 |
Goodwill and Other Intangible_5
Goodwill and Other Intangible Assets - Amortization Expense (Details) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
Goodwill and Intangible Assets Disclosure [Abstract] | ||
Remainder of 2019 | $ 7,924 | |
2020 | 10,552 | |
2021 | 10,490 | |
2022 | 10,438 | |
2023 | 10,156 | |
Thereafter | 39,134 | |
Other intangible assets, net | $ 88,694 | $ 91,334 |
Time Deposits - Textual (Detail
Time Deposits - Textual (Details) - USD ($) $ in Millions | Mar. 31, 2019 | Dec. 31, 2018 |
Banking and Thrift [Abstract] | ||
Time deposits certificates of $100,000 or more | $ 1,507 | $ 1,443 |
Time deposits certificates over $250,000 | $ 770.1 | $ 753.2 |
Income Taxes - Provision for In
Income Taxes - Provision for Income Taxes (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Income Tax Disclosure [Abstract] | ||
Income taxes currently payable | $ 10,317 | $ 10,045 |
Deferred income taxes | 2,081 | 3,921 |
Provision for income taxes | $ 12,398 | $ 13,966 |
Income Taxes - Tax Effects of T
Income Taxes - Tax Effects of Temporary Differences Related to Deferred Taxes Included in Other Liabilities (Details) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
Deferred tax assets: | ||
Loans acquired | $ 11,052 | $ 12,536 |
Allowance for loan losses | 14,885 | 13,947 |
Valuation of foreclosed assets | 1,474 | 1,474 |
Tax NOLs from acquisition | 6,969 | 7,242 |
Deferred compensation payable | 2,793 | 2,707 |
Accrued equity and other compensation | 6,304 | 8,182 |
Acquired securities | 397 | 397 |
Unrealized loss on available-for-sale securities | 2,718 | 9,196 |
Other | 7,130 | 7,042 |
Gross deferred tax assets | 53,722 | 62,723 |
Deferred tax liabilities: | ||
Goodwill and other intangible amortization | (30,273) | (30,471) |
Accumulated depreciation | (13,361) | (13,361) |
Other | (5,115) | (5,360) |
Gross deferred tax liabilities | (48,749) | (49,192) |
Net deferred tax asset, included in other assets | $ 4,973 | $ 13,531 |
Income Taxes - Reconciliation o
Income Taxes - Reconciliation of Income Tax Expense (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Income Tax Disclosure [Abstract] | ||
Computed at the statutory rate | $ 12,620 | $ 13,708 |
State income taxes, net of federal tax benefit | 1,345 | 1,822 |
Discrete items related to ASU 2016-09 | (26) | (273) |
Tax exempt interest income | (961) | (677) |
Tax exempt earnings on BOLI | (179) | (186) |
Federal tax credits | (729) | 0 |
Other differences, net | 328 | (428) |
Provision for income taxes | $ 12,398 | $ 13,966 |
Income Taxes - Textual (Details
Income Taxes - Textual (Details) $ in Millions | 3 Months Ended |
Mar. 31, 2019USD ($) | |
U.S. federal | Earliest Tax Year | |
Operating Loss Carryforwards [Line Items] | |
Open tax year | 2015 |
State | Earliest Tax Year | |
Operating Loss Carryforwards [Line Items] | |
Open tax year | 2015 |
Metropolitan | |
Operating Loss Carryforwards [Line Items] | |
Net operating losses | $ 33.8 |
Securities Sold Under Agreeme_3
Securities Sold Under Agreements to Repurchase - Textual (Details) - USD ($) $ in Millions | Mar. 31, 2019 | Dec. 31, 2018 |
Banking and Thrift [Abstract] | ||
Repurchase agreements | $ 117 | $ 95.5 |
Securities Sold Under Agreeme_4
Securities Sold Under Agreements to Repurchase - Contractual Maturity of the Agreements (Details) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | ||
Repurchase agreements | $ 117,000 | $ 95,500 |
U.S. Government agencies | ||
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | ||
Repurchase agreements | 116,963 | 95,542 |
U.S. Government agencies | Overnight and Continuous | ||
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | ||
Repurchase agreements | 116,963 | 95,542 |
U.S. Government agencies | Up to 30 Days | ||
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | ||
Repurchase agreements | 0 | 0 |
U.S. Government agencies | 30-90 Days | ||
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | ||
Repurchase agreements | 0 | 0 |
U.S. Government agencies | Greater than 90 Days | ||
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | ||
Repurchase agreements | $ 0 | $ 0 |
Other Borrowings and Subordin_3
Other Borrowings and Subordinated Notes and Debentures - Debt Components (Details) - USD ($) $ in Thousands | 1 Months Ended | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2019 | Dec. 31, 2018 | |
Debt Instrument [Line Items] | |||
Total other borrowings and subordinated debt | $ 1,524,030 | $ 1,699,400 | |
U.S. Bank National Association | Revolving credit facility | |||
Debt Instrument [Line Items] | |||
Total other borrowings and subordinated debt | $ 0 | 0 | |
U.S. Bank National Association | Revolving credit facility | London Interbank Offered Rate (LIBOR) | |||
Debt Instrument [Line Items] | |||
Floating rate (as percent) | 1.50% | ||
Total other borrowings | |||
Debt Instrument [Line Items] | |||
Total other borrowings and subordinated debt | $ 1,169,989 | 1,345,450 | |
FHLB advances, net of discount, due 2019 to 2033, 1.38% to 7.37% secured by real estate loans | |||
Debt Instrument [Line Items] | |||
Total other borrowings and subordinated debt | $ 1,169,989 | 1,345,450 | |
FHLB advances, net of discount, due 2019 to 2033, 1.38% to 7.37% secured by real estate loans | Minimum | |||
Debt Instrument [Line Items] | |||
Fixed rate (as percent) | 1.38% | ||
FHLB advances, net of discount, due 2019 to 2033, 1.38% to 7.37% secured by real estate loans | Maximum | |||
Debt Instrument [Line Items] | |||
Fixed rate (as percent) | 7.37% | ||
Subordinated notes payable, due 4/1/2028, fixed-to-floating rate (fixed rate of 5.00% through 3/31/2023, floating rate of 2.15% above the three month LIBOR rate, reset quarterly) | |||
Debt Instrument [Line Items] | |||
Fixed rate (as percent) | 5.00% | 5.00% | |
Subordinated notes payable, due 4/1/2028, fixed-to-floating rate (fixed rate of 5.00% through 3/31/2023, floating rate of 2.15% above the three month LIBOR rate, reset quarterly) | London Interbank Offered Rate (LIBOR) | |||
Debt Instrument [Line Items] | |||
Floating rate (as percent) | 2.15% | ||
Subordinated notes payable, due 4/1/2028, fixed-to-floating rate (fixed rate of 5.00% through 3/31/2023, floating rate of 2.15% above the three month LIBOR rate, reset quarterly) | Subordinated notes payable, due 4/1/2028, fixed-to-floating rate (fixed rate of 5.00% through 3/31/2023, floating rate of 2.15% above the three month LIBOR rate, reset quarterly) | |||
Debt Instrument [Line Items] | |||
Long-term debt, gross | $ 330,000 | 330,000 | |
Subordinated notes payable, due 4/1/2028, fixed-to-floating rate (fixed rate of 5.00% through 3/31/2023, floating rate of 2.15% above the three month LIBOR rate, reset quarterly) | Subordinated notes payable, due 4/1/2028, fixed-to-floating rate (fixed rate of 5.00% through 3/31/2023, floating rate of 2.15% above the three month LIBOR rate, reset quarterly) | London Interbank Offered Rate (LIBOR) | |||
Debt Instrument [Line Items] | |||
Floating rate (as percent) | 2.15% | ||
Subordinated notes payable, due 4/1/2028, fixed-to-floating rate (fixed rate of 5.00% through 3/31/2023, floating rate of 2.15% above the three month LIBOR rate, reset quarterly) | Trust preferred securities, net of discount, due 9/15/2037, floating rate of 1.37% above the three month LIBOR rate, reset quarterly | |||
Debt Instrument [Line Items] | |||
Long-term debt, gross | $ 10,310 | 10,310 | |
Subordinated notes payable, due 4/1/2028, fixed-to-floating rate (fixed rate of 5.00% through 3/31/2023, floating rate of 2.15% above the three month LIBOR rate, reset quarterly) | Trust preferred securities, net of discount, due 9/15/2037, floating rate of 1.37% above the three month LIBOR rate, reset quarterly | London Interbank Offered Rate (LIBOR) | |||
Debt Instrument [Line Items] | |||
Floating rate (as percent) | 1.37% | ||
Subordinated notes payable, due 4/1/2028, fixed-to-floating rate (fixed rate of 5.00% through 3/31/2023, floating rate of 2.15% above the three month LIBOR rate, reset quarterly) | 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 | |||
Debt Instrument [Line Items] | |||
Long-term debt, gross | $ 10,310 | 10,310 | |
Subordinated notes payable, due 4/1/2028, fixed-to-floating rate (fixed rate of 5.00% through 3/31/2023, floating rate of 2.15% above the three month LIBOR rate, reset quarterly) | 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 | London Interbank Offered Rate (LIBOR) | |||
Debt Instrument [Line Items] | |||
Floating rate (as percent) | 1.57% | ||
Subordinated notes payable, due 4/1/2028, fixed-to-floating rate (fixed rate of 5.00% through 3/31/2023, floating rate of 2.15% above the three month LIBOR rate, reset quarterly) | Trust preferred securities, due 12/15/2035, floating rate of 1.45% above the three month LIBOR rate, reset quarterly, callable without penalty | |||
Debt Instrument [Line Items] | |||
Long-term debt, gross | $ 6,702 | 6,702 | |
Subordinated notes payable, due 4/1/2028, fixed-to-floating rate (fixed rate of 5.00% through 3/31/2023, floating rate of 2.15% above the three month LIBOR rate, reset quarterly) | Trust preferred securities, due 12/15/2035, floating rate of 1.45% above the three month LIBOR rate, reset quarterly, callable without penalty | London Interbank Offered Rate (LIBOR) | |||
Debt Instrument [Line Items] | |||
Floating rate (as percent) | 1.45% | ||
Subordinated Notes and Debentures | |||
Debt Instrument [Line Items] | |||
Unamortized debt issuance costs | $ (3,281) | (3,372) | |
Total other borrowings and subordinated debt | $ 354,041 | $ 353,950 |
Other Borrowings and Subordin_4
Other Borrowings and Subordinated Notes and Debentures - Textual (Details) - USD ($) | 1 Months Ended | 3 Months Ended | 12 Months Ended | |||
Oct. 31, 2018 | Mar. 31, 2018 | Oct. 31, 2017 | Mar. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Short-term Debt [Line Items] | ||||||
FHLB advances outstanding | $ 1,200,000,000 | |||||
Lockout period | 1 year | |||||
FHLB advances | $ 1,200,000,000 | |||||
Additional advances from FHLB | 2,200,000,000 | |||||
Debt Instrument [Line Items] | ||||||
Commitment fee on unused portion (as percent) | 0.25% | |||||
Long-term debt | 1,524,030,000 | $ 1,699,400,000 | ||||
Mortgage loans and investment securities securing FHLB advances | 4,700,000,000 | |||||
Assets | 16,091,639,000 | 16,543,337,000 | $ 15,000,000,000 | |||
U.S. Bank National Association | Revolving credit facility | ||||||
Debt Instrument [Line Items] | ||||||
Maximum borrowing capacity | $ 50,000,000 | $ 75,000,000 | ||||
Commitment fee on unused portion (as percent) | 0.30% | |||||
Long-term debt | $ 0 | $ 0 | ||||
London Interbank Offered Rate (LIBOR) | U.S. Bank National Association | Revolving credit facility | ||||||
Debt Instrument [Line Items] | ||||||
Floating rate (as percent) | 1.50% | |||||
Federal Home Loan Bank Owns the Options (FOTO) Advances | ||||||
Short-term Debt [Line Items] | ||||||
FHLB advances outstanding | $ 775,000,000 | |||||
Federal Home Loan Bank Owns the Options (FOTO) Advances | Minimum | ||||||
Short-term Debt [Line Items] | ||||||
Debt term | 10 years | |||||
Federal Home Loan Bank Owns the Options (FOTO) Advances | Maximum | ||||||
Short-term Debt [Line Items] | ||||||
Debt term | 15 years | |||||
Federal Home Loan Bank Advances | ||||||
Short-term Debt [Line Items] | ||||||
Debt term | 1 year | |||||
Subordinated debt | ||||||
Debt Instrument [Line Items] | ||||||
Subordinated debentures | $ 330,000,000 | |||||
Fixed rate (as percent) | 5.00% | 5.00% | ||||
Debt issuance costs | $ 3,600,000 | |||||
Subordinated debt | London Interbank Offered Rate (LIBOR) | ||||||
Debt Instrument [Line Items] | ||||||
Floating rate (as percent) | 2.15% |
Other Borrowings and Subordin_5
Other Borrowings and Subordinated Notes and Debentures - Aggregate Annual Maturities of Long-term Debt (Details) $ in Thousands | Mar. 31, 2019USD ($) |
Debt Disclosure [Abstract] | |
2019 | $ 1,775 |
2020 | 2,099 |
2021 | 1,801 |
2022 | 948 |
2023 | 925 |
Thereafter | 361,482 |
Total | $ 369,030 |
Common Stock - Textual (Details
Common Stock - Textual (Details) | Feb. 08, 2018 | Jul. 23, 2012shares | Mar. 31, 2019shares | Dec. 31, 2018shares | Apr. 19, 2018shares | Apr. 18, 2018shares |
Equity [Abstract] | ||||||
Conversion ratio | 2 | |||||
Common stock, shares authorized (in shares) | 175,000,000 | 175,000,000 | 175,000,000 | 120,000,000 | ||
Number of shares authorized to be repurchased (in shares) | 1,700,000 | |||||
Percent of outstanding stock (as percent) | 2.00% | |||||
Number of additional shares to be repurchased (in shares) | 308,272 | |||||
Repurchase of common stock (in shares) | 0 |
Undivided Profits - Textual (De
Undivided Profits - Textual (Details) $ in Millions | 3 Months Ended |
Mar. 31, 2019USD ($) | |
Equity [Abstract] | |
Threshold percentage of net profits exceeded by dividends declared, any calendar year (as percent) | 75.00% |
Threshold percentage of net profits exceeded by dividends declared, combined with preceding year (as percent) | 75.00% |
Statutory accounting practices, statutory amount available for dividend payments without regulatory approval | $ 57.7 |
Tier 1 leverage capital required to be well capitalized to average assets (as percent) | 5.00% |
Tier 1 risk-based capital required to be well capitalized to risk weighted assets (as percent) | 8.00% |
Capital required to be well-capitalized to risk weighted assets (as percent) | 10.00% |
Common equity Tier 1 ratio required to be well capitalized (as percent) | 6.50% |
Capital conservation buffer phase in amount | 0.625% |
Capital conservation buffer phase in period | 4 years |
Capital conservation buffer (as percent) | 2.50% |
CET1 ratio (as percent) | 10.46% |
Stock Based Compensation - Stoc
Stock Based Compensation - Stock Compensation Plans (Details) - $ / shares | 3 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Stock Options Outstanding | ||
Stock options outstanding, number of shares, balance (in shares) | 695,000 | |
Stock options outstanding, granted (in shares) | 0 | 0 |
Stock options exercised, exercised (in shares) | (1,000) | |
Stock options outstanding, forfeited/expired (in shares) | 0 | |
Stock options outstanding, number of shares, balance (in shares) | 694,000 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Abstract] | ||
Stock options, weighted average exercise price, balance (in dollars per share) | $ 22.42 | |
Stock options, weighted average exercise price, granted (in dollars per share) | 0 | |
Stock options, weighted average exercise price, exercised (in dollars per share) | 10.65 | |
Stock options, weighted average exercise price, forfeited/expired (in dollars per share) | 0 | |
Stock options, weighted average exercise price, balance (in dollars per share) | $ 22.43 | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract] | ||
Stock options outstanding, number of shares, exercisable (in shares) | 694,000 | |
Stock options outstanding, weighted average exercise price, exercisable (in dollars per share) | $ 22.43 | |
Restricted Stock Units (RSUs) | ||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward] | ||
Non-vested shares outstanding, balance (in shares) | 177,000 | |
Non-vested shares outstanding, granted (in shares) | 83,000 | |
Non-vested shares outstanding, vested (earned) (in shares) | (54,000) | |
Non-vested shares outstanding, forfeited/expired (in shares) | (17,000) | |
Non-vested shares outstanding, balance (in shares) | 189,000 | |
Non-vested Stock Awards Outstanding | ||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward] | ||
Non-vested shares outstanding, balance (in shares) | 72,000 | |
Non-vested shares outstanding, granted (in shares) | 0 | |
Non-vested shares outstanding, vested (earned) (in shares) | (21,000) | |
Non-vested shares outstanding, forfeited/expired (in shares) | (1,000) | |
Non-vested shares outstanding, balance (in shares) | 50,000 | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract] | ||
Non-vested shares outstanding. weighted-average grant-date fair value, balance (in dollars per share) | $ 21.45 | |
Non-vested shares outstanding. weighted-average grant-date fair value, granted (in dollars per share) | 0 | |
Non-vested shares outstanding. weighted-average grant-date fair value, vested (earned) (in dollars per share) | 18.65 | |
Non-vested shares outstanding. weighted-average grant-date fair value, forfeited/expired (in dollars per share) | 18.92 | |
Non-vested shares outstanding. weighted-average grant-date fair value, balance (in dollars per share) | $ 22.68 | |
Non-vested Stock Units Outstanding | ||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward] | ||
Non-vested shares outstanding, balance (in shares) | 817,000 | |
Non-vested shares outstanding, granted (in shares) | 399,000 | |
Non-vested shares outstanding, vested (earned) (in shares) | (266,000) | |
Non-vested shares outstanding, forfeited/expired (in shares) | (57,000) | |
Non-vested shares outstanding, balance (in shares) | 893,000 | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract] | ||
Non-vested shares outstanding. weighted-average grant-date fair value, balance (in dollars per share) | $ 27.65 | |
Non-vested shares outstanding. weighted-average grant-date fair value, granted (in dollars per share) | 26.57 | |
Non-vested shares outstanding. weighted-average grant-date fair value, vested (earned) (in dollars per share) | 26.55 | |
Non-vested shares outstanding. weighted-average grant-date fair value, forfeited/expired (in dollars per share) | 28.45 | |
Non-vested shares outstanding. weighted-average grant-date fair value, balance (in dollars per share) | $ 27.49 |
Stock Based Compensation - St_2
Stock Based Compensation - Stock Options (Details) shares in Thousands | 3 Months Ended |
Mar. 31, 2019$ / sharesshares | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |
Options outstanding, range of exercise prices, minimum (in dollars per share) | $ 9.46 |
Options outstanding, range of exercise prices, maximum (in dollars per share) | $ 24.07 |
Options outstanding, number of shares (in shares) | shares | 694 |
Options outstanding, weighted average remaining contractual life | 6 years 3 months 11 days |
Options outstanding, weighted average exercise price (in dollars per share) | $ 22.43 |
Options exercisable, number of shares (in shares) | shares | 694 |
Options exercisable, weighted average exercise price (in dollars per share) | $ 22.43 |
Range 01 | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |
Options outstanding, range of exercise prices, minimum (in dollars per share) | 9.46 |
Options outstanding, range of exercise prices, maximum (in dollars per share) | $ 9.46 |
Options outstanding, number of shares (in shares) | shares | 1 |
Options outstanding, weighted average remaining contractual life | 2 years 9 months 18 days |
Options outstanding, weighted average exercise price (in dollars per share) | $ 9.46 |
Options exercisable, number of shares (in shares) | shares | 1 |
Options exercisable, weighted average exercise price (in dollars per share) | $ 9.46 |
Range 02 | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |
Options outstanding, range of exercise prices, minimum (in dollars per share) | 10.65 |
Options outstanding, range of exercise prices, maximum (in dollars per share) | $ 10.65 |
Options outstanding, number of shares (in shares) | shares | 3 |
Options outstanding, weighted average remaining contractual life | 3 years 9 months 29 days |
Options outstanding, weighted average exercise price (in dollars per share) | $ 10.65 |
Options exercisable, number of shares (in shares) | shares | 3 |
Options exercisable, weighted average exercise price (in dollars per share) | $ 10.65 |
Range 03 | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |
Options outstanding, range of exercise prices, minimum (in dollars per share) | 10.76 |
Options outstanding, range of exercise prices, maximum (in dollars per share) | $ 10.76 |
Options outstanding, number of shares (in shares) | shares | 2 |
Options outstanding, weighted average remaining contractual life | 9 months 18 days |
Options outstanding, weighted average exercise price (in dollars per share) | $ 10.76 |
Options exercisable, number of shares (in shares) | shares | 2 |
Options exercisable, weighted average exercise price (in dollars per share) | $ 10.76 |
Range 04 | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |
Options outstanding, range of exercise prices, minimum (in dollars per share) | 20.29 |
Options outstanding, range of exercise prices, maximum (in dollars per share) | $ 20.29 |
Options outstanding, number of shares (in shares) | shares | 71 |
Options outstanding, weighted average remaining contractual life | 5 years 9 months |
Options outstanding, weighted average exercise price (in dollars per share) | $ 20.29 |
Options exercisable, number of shares (in shares) | shares | 71 |
Options exercisable, weighted average exercise price (in dollars per share) | $ 20.29 |
Range 05 | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |
Options outstanding, range of exercise prices, minimum (in dollars per share) | 20.36 |
Options outstanding, range of exercise prices, maximum (in dollars per share) | $ 20.36 |
Options outstanding, number of shares (in shares) | shares | 3 |
Options outstanding, weighted average remaining contractual life | 5 years 7 months 17 days |
Options outstanding, weighted average exercise price (in dollars per share) | $ 20.36 |
Options exercisable, number of shares (in shares) | shares | 3 |
Options exercisable, weighted average exercise price (in dollars per share) | $ 20.36 |
Range 06 | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |
Options outstanding, range of exercise prices, minimum (in dollars per share) | 22.20 |
Options outstanding, range of exercise prices, maximum (in dollars per share) | $ 22.20 |
Options outstanding, number of shares (in shares) | shares | 74 |
Options outstanding, weighted average remaining contractual life | 5 years 11 months 23 days |
Options outstanding, weighted average exercise price (in dollars per share) | $ 22.20 |
Options exercisable, number of shares (in shares) | shares | 74 |
Options exercisable, weighted average exercise price (in dollars per share) | $ 22.20 |
Range 07 | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |
Options outstanding, range of exercise prices, minimum (in dollars per share) | 22.75 |
Options outstanding, range of exercise prices, maximum (in dollars per share) | $ 22.75 |
Options outstanding, number of shares (in shares) | shares | 436 |
Options outstanding, weighted average remaining contractual life | 6 years 4 months 10 days |
Options outstanding, weighted average exercise price (in dollars per share) | $ 22.75 |
Options exercisable, number of shares (in shares) | shares | 436 |
Options exercisable, weighted average exercise price (in dollars per share) | $ 22.75 |
Range 08 | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |
Options outstanding, range of exercise prices, minimum (in dollars per share) | 23.51 |
Options outstanding, range of exercise prices, maximum (in dollars per share) | $ 23.51 |
Options outstanding, number of shares (in shares) | shares | 97 |
Options outstanding, weighted average remaining contractual life | 6 years 9 months 22 days |
Options outstanding, weighted average exercise price (in dollars per share) | $ 23.51 |
Options exercisable, number of shares (in shares) | shares | 97 |
Options exercisable, weighted average exercise price (in dollars per share) | $ 23.51 |
Range 09 | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |
Options outstanding, range of exercise prices, minimum (in dollars per share) | 24.07 |
Options outstanding, range of exercise prices, maximum (in dollars per share) | $ 24.07 |
Options outstanding, number of shares (in shares) | shares | 7 |
Options outstanding, weighted average remaining contractual life | 6 years 5 months 16 days |
Options outstanding, weighted average exercise price (in dollars per share) | $ 24.07 |
Options exercisable, number of shares (in shares) | shares | 7 |
Options exercisable, weighted average exercise price (in dollars per share) | $ 24.07 |
Stock Based Compensation - Text
Stock Based Compensation - Textual (Details) - USD ($) | 3 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ||
Stock-based compensation expense | $ 3,084,000 | $ 2,621,000 |
Unrecognized stock-based compensation expense related to stock options | 0 | |
Unrecognized stock-based compensation expense related to non-vested stock awards | $ 20,533,000 | |
Period unrecognized expenses is expected to be recognized | 2 years | |
Intrinsic value of stock options outstanding | $ 1,425,000 | |
Intrinsic value of stock options exercisable | $ 1,423,000 | |
Share price (in dollars per share) | $ 24.48 | |
Stock options exercised | $ 6,000 | $ 646,000 |
Stock options granted | 0 | 0 |
Earnings Per Share ("EPS") - Te
Earnings Per Share ("EPS") - Textual (Details) - shares | 3 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Stock options | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Shares excluded from earnings per share calculation (in shares) | 0 | 0 |
Earnings Per Share ("EPS") (Det
Earnings Per Share ("EPS") (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Earnings Per Share [Abstract] | ||
Net income | $ 47,695 | $ 51,312 |
Average common shares outstanding (in shares) | 92,520 | 92,182 |
Average potential dilutive common shares (in shares) | 351 | 457 |
Average diluted common shares (in shares) | 92,871 | 92,639 |
Basic earnings per share (in dollars per share) | $ 0.52 | $ 0.56 |
Diluted earnings per share (in dollars per share) | $ 0.51 | $ 0.55 |
Additional Cash Flow Informat_3
Additional Cash Flow Information (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Other Significant Noncash Transactions [Line Items] | ||
Interest paid | $ 38,047 | $ 22,863 |
Income taxes (refunded) paid | (54) | (7,375) |
Right-of use lease assets obtained in exchange for lessee operating lease liabilities | 32,757 | |
Transfers of loans to foreclosed assets held for sale | ||
Other Significant Noncash Transactions [Line Items] | ||
Transfers of loans | 569 | 1,316 |
Transfers of premises to foreclosed assets and other real estate owned | ||
Other Significant Noncash Transactions [Line Items] | ||
Transfers of loans | $ 0 | $ 106 |
Other Operating Expenses (Detai
Other Operating Expenses (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Other Income and Expenses [Abstract] | ||
Professional services | $ 4,323 | $ 4,330 |
Postage | 1,726 | 1,399 |
Telephone | 1,619 | 1,486 |
Credit card expense | 3,860 | 3,228 |
Marketing | 3,057 | 1,660 |
Software and technology | 4,496 | 2,648 |
Operating supplies | 618 | 749 |
Amortization of intangibles | 2,641 | 2,837 |
Branch right sizing expense | 45 | 61 |
Other expense | 7,677 | 7,096 |
Total other operating expenses | $ 30,062 | $ 25,494 |
Commitments and Credit Risk - T
Commitments and Credit Risk - Textual (Details) - USD ($) | 3 Months Ended | |
Mar. 31, 2019 | Dec. 31, 2018 | |
Other Commitments [Line Items] | ||
Outstanding letters of credit | $ 36,929,000 | $ 39,101,000 |
Standby Letters of Credit | ||
Other Commitments [Line Items] | ||
Deferred revenue | $ 0 | 0 |
Minimum | ||
Other Commitments [Line Items] | ||
Term of letter of credit | 9 months | |
Maximum | ||
Other Commitments [Line Items] | ||
Term of letter of credit | 15 years | |
Credit card commitments | ||
Other Commitments [Line Items] | ||
Outstanding commitments | $ 573,779,000 | 560,863,000 |
Other loan commitments | ||
Other Commitments [Line Items] | ||
Outstanding commitments | $ 3,384,471,000 | $ 3,455,471,000 |
Fair Value Measurements - Fair
Fair Value Measurements - Fair Value of Financial Assets Measure on a Recurring Basis (Details) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale securities | $ 2,240,111 | $ 2,151,752 |
U.S. Government agencies | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale securities | 161,577 | 154,301 |
Mortgage-backed securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale securities | 1,345,677 | 1,522,900 |
State and political subdivisions | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale securities | 580,790 | 314,843 |
Other securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale securities | 152,067 | 159,708 |
Fair Value, Measurements, Recurring | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset | 6,306 | 6,242 |
Derivative liability | (5,861) | (5,283) |
Fair Value, Measurements, Recurring | U.S. Government agencies | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale securities | 161,577 | 154,301 |
Fair Value, Measurements, Recurring | Mortgage-backed securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale securities | 1,345,677 | 1,522,900 |
Fair Value, Measurements, Recurring | State and political subdivisions | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale securities | 580,790 | 314,843 |
Fair Value, Measurements, Recurring | Other securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale securities | 152,067 | 159,708 |
Fair Value, Measurements, Recurring | Quoted Prices in Active Markets for Identical Assets (Level 1) | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset | 0 | 0 |
Derivative liability | 0 | 0 |
Fair Value, Measurements, Recurring | Quoted Prices in Active Markets for Identical Assets (Level 1) | U.S. Government agencies | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale securities | 0 | 0 |
Fair Value, Measurements, Recurring | Quoted Prices in Active Markets for Identical Assets (Level 1) | Mortgage-backed securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale securities | 0 | 0 |
Fair Value, Measurements, Recurring | Quoted Prices in Active Markets for Identical Assets (Level 1) | State and political subdivisions | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale securities | 0 | 0 |
Fair Value, Measurements, Recurring | Quoted Prices in Active Markets for Identical Assets (Level 1) | Other securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale securities | 0 | 0 |
Fair Value, Measurements, Recurring | Significant Other Observable Inputs (Level 2) | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset | 6,306 | 6,242 |
Derivative liability | (5,861) | (5,283) |
Fair Value, Measurements, Recurring | Significant Other Observable Inputs (Level 2) | U.S. Government agencies | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale securities | 161,577 | 154,301 |
Fair Value, Measurements, Recurring | Significant Other Observable Inputs (Level 2) | Mortgage-backed securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale securities | 1,345,677 | 1,522,900 |
Fair Value, Measurements, Recurring | Significant Other Observable Inputs (Level 2) | State and political subdivisions | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale securities | 580,790 | 314,843 |
Fair Value, Measurements, Recurring | Significant Other Observable Inputs (Level 2) | Other securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale securities | 152,067 | 159,708 |
Fair Value, Measurements, Recurring | Significant Unobservable Inputs (Level 3) | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset | 0 | 0 |
Derivative liability | 0 | 0 |
Fair Value, Measurements, Recurring | Significant Unobservable Inputs (Level 3) | U.S. Government agencies | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale securities | 0 | 0 |
Fair Value, Measurements, Recurring | Significant Unobservable Inputs (Level 3) | Mortgage-backed securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale securities | 0 | 0 |
Fair Value, Measurements, Recurring | Significant Unobservable Inputs (Level 3) | State and political subdivisions | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale securities | 0 | 0 |
Fair Value, Measurements, Recurring | Significant Unobservable Inputs (Level 3) | Other securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale securities | $ 0 | $ 0 |
Fair Value Measurements - Textu
Fair Value Measurements - Textual (Details) - USD ($) | 3 Months Ended | 12 Months Ended |
Mar. 31, 2019 | Dec. 31, 2018 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Foreclosed assets and other real estate owned | $ 18,952,000 | $ 25,565,000 |
Impaired loan, related allowance | 521,000 | 684,000 |
Collateral dependent | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Impaired loan, related allowance | $ 0 | 2,738,000 |
Commercial Real Estate | Discount Rate | Minimum | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Measurement input (as percent) | 10.00% | |
Commercial Real Estate | Discount Rate | Maximum | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Measurement input (as percent) | 40.00% | |
Residential Real Estate | Discount Rate | Minimum | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Measurement input (as percent) | 10.00% | |
Residential Real Estate | Discount Rate | Maximum | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Measurement input (as percent) | 40.00% | |
Foreclosed Assets Not Covered By FDIC Loss Share | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Foreclosed assets and other real estate owned | $ 19,000,000 | 25,600,000 |
Ratings of Substandard or worse | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Threshold value for performing impairment testing on loans | 1,500,000 | |
Residential Mortgage | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Impairment of financing receivable, held-for-sale | $ 0 | $ 0 |
Fair Value Measurements - Fai_2
Fair Value Measurements - Fair Value of Financial Assets Measured on a Nonrecurring Basis (Details) - Fair Value, Measurements, Nonrecurring - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Impaired loans (collateral dependent) | $ 2,101 | $ 17,789 |
Foreclosed assets and other real estate owned | 302 | 23,714 |
Quoted Prices in Active Markets for Identical Assets (Level 1) | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Impaired loans (collateral dependent) | 0 | 0 |
Foreclosed assets and other real estate owned | 0 | 0 |
Significant Other Observable Inputs (Level 2) | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Impaired loans (collateral dependent) | 0 | 0 |
Foreclosed assets and other real estate owned | 0 | 0 |
Significant Unobservable Inputs (Level 3) | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Impaired loans (collateral dependent) | 2,101 | 17,789 |
Foreclosed assets and other real estate owned | $ 302 | $ 23,714 |
Fair Value Measurements - Estim
Fair Value Measurements - Estimated Fair Values and Related Carrying Amounts of Financial Instruments (Details) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Held-to-maturity securities | $ 61,956 | $ 290,830 |
Carrying Amount | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Cash and cash equivalents | 491,161 | 833,458 |
Interest bearing balances due from banks - time | 4,684 | 4,934 |
Held-to-maturity securities | 61,435 | 289,194 |
Mortgage loans held for sale | 18,480 | 26,799 |
Interest receivable | 51,796 | 49,938 |
Federal funds purchased and securities sold under agreements to repurchase | 120,213 | 95,792 |
Other borrowings | 1,169,989 | 1,345,450 |
Subordinated notes and debentures | 354,041 | 353,950 |
Interest payable | 13,941 | 9,897 |
Carrying Amount | Non-interest bearing transaction accounts | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Deposits | 2,674,034 | 2,672,405 |
Carrying Amount | Interest bearing transaction accounts and savings deposits | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Deposits | 6,666,823 | 6,830,191 |
Carrying Amount | Time deposits | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Deposits | 2,648,674 | 2,896,156 |
Carrying Amount | Legacy loans, net | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Loans, net | 8,625,307 | 8,373,789 |
Carrying Amount | Loans acquired, net | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Loans, net | 3,056,187 | 3,292,783 |
Fair Value Measurements | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Cash and cash equivalents | 491,161 | 833,458 |
Interest bearing balances due from banks - time | 4,684 | 4,934 |
Held-to-maturity securities | 61,956 | 290,830 |
Mortgage loans held for sale | 18,480 | 26,799 |
Interest receivable | 51,796 | 49,938 |
Federal funds purchased and securities sold under agreements to repurchase | 120,213 | 95,792 |
Other borrowings | 1,168,914 | 1,342,868 |
Subordinated notes and debentures | 359,090 | 355,812 |
Interest payable | 13,941 | 9,897 |
Fair Value Measurements | Non-interest bearing transaction accounts | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Deposits | 2,674,034 | 2,672,405 |
Fair Value Measurements | Interest bearing transaction accounts and savings deposits | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Deposits | 6,666,823 | 6,830,191 |
Fair Value Measurements | Time deposits | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Deposits | 2,632,615 | 2,872,342 |
Fair Value Measurements | Legacy loans, net | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Loans, net | 8,539,036 | 8,280,690 |
Fair Value Measurements | Loans acquired, net | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Loans, net | 3,025,619 | 3,256,174 |
Fair Value Measurements | Quoted Prices in Active Markets for Identical Assets (Level 1) | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Cash and cash equivalents | 491,161 | 833,458 |
Interest bearing balances due from banks - time | 0 | 0 |
Held-to-maturity securities | 0 | 0 |
Mortgage loans held for sale | 0 | 0 |
Interest receivable | 0 | 0 |
Federal funds purchased and securities sold under agreements to repurchase | 0 | 0 |
Other borrowings | 0 | 0 |
Subordinated notes and debentures | 0 | 0 |
Interest payable | 0 | 0 |
Fair Value Measurements | Quoted Prices in Active Markets for Identical Assets (Level 1) | Non-interest bearing transaction accounts | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Deposits | 0 | 0 |
Fair Value Measurements | Quoted Prices in Active Markets for Identical Assets (Level 1) | Interest bearing transaction accounts and savings deposits | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Deposits | 0 | 0 |
Fair Value Measurements | Quoted Prices in Active Markets for Identical Assets (Level 1) | Time deposits | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Deposits | 0 | 0 |
Fair Value Measurements | Quoted Prices in Active Markets for Identical Assets (Level 1) | Legacy loans, net | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Loans, net | 0 | 0 |
Fair Value Measurements | Quoted Prices in Active Markets for Identical Assets (Level 1) | Loans acquired, net | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Loans, net | 0 | 0 |
Fair Value Measurements | Significant Other Observable Inputs (Level 2) | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Cash and cash equivalents | 0 | 0 |
Interest bearing balances due from banks - time | 4,684 | 4,934 |
Held-to-maturity securities | 61,956 | 290,830 |
Mortgage loans held for sale | 0 | 0 |
Interest receivable | 51,796 | 49,938 |
Federal funds purchased and securities sold under agreements to repurchase | 120,213 | 95,792 |
Other borrowings | 1,168,914 | 1,342,868 |
Subordinated notes and debentures | 359,090 | 355,812 |
Interest payable | 13,941 | 9,897 |
Fair Value Measurements | Significant Other Observable Inputs (Level 2) | Non-interest bearing transaction accounts | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Deposits | 2,674,034 | 2,672,405 |
Fair Value Measurements | Significant Other Observable Inputs (Level 2) | Interest bearing transaction accounts and savings deposits | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Deposits | 6,666,823 | 6,830,191 |
Fair Value Measurements | Significant Other Observable Inputs (Level 2) | Time deposits | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Deposits | 0 | 0 |
Fair Value Measurements | Significant Other Observable Inputs (Level 2) | Legacy loans, net | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Loans, net | 0 | 0 |
Fair Value Measurements | Significant Other Observable Inputs (Level 2) | Loans acquired, net | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Loans, net | 0 | 0 |
Fair Value Measurements | Significant Unobservable Inputs (Level 3) | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Cash and cash equivalents | 0 | 0 |
Interest bearing balances due from banks - time | 0 | 0 |
Held-to-maturity securities | 0 | 0 |
Mortgage loans held for sale | 18,480 | 26,799 |
Interest receivable | 0 | 0 |
Federal funds purchased and securities sold under agreements to repurchase | 0 | 0 |
Other borrowings | 0 | 0 |
Subordinated notes and debentures | 0 | 0 |
Interest payable | 0 | 0 |
Fair Value Measurements | Significant Unobservable Inputs (Level 3) | Non-interest bearing transaction accounts | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Deposits | 0 | 0 |
Fair Value Measurements | Significant Unobservable Inputs (Level 3) | Interest bearing transaction accounts and savings deposits | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Deposits | 0 | 0 |
Fair Value Measurements | Significant Unobservable Inputs (Level 3) | Time deposits | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Deposits | 2,632,615 | 2,872,342 |
Fair Value Measurements | Significant Unobservable Inputs (Level 3) | Legacy loans, net | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Loans, net | 8,539,036 | 8,280,690 |
Fair Value Measurements | Significant Unobservable Inputs (Level 3) | Loans acquired, net | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Loans, net | $ 3,025,619 | $ 3,256,174 |