Document And Entity Information
Document And Entity Information - shares | 6 Months Ended | |
Jun. 30, 2016 | Aug. 05, 2016 | |
Document And Entity Information [Abstract] | ||
Entity Registrant Name | SOUTHWEST BANCORP INC | |
Entity Central Index Key | 914,374 | |
Document Type | 10-Q | |
Document Period End Date | Jun. 30, 2016 | |
Amendment Flag | false | |
Document Fiscal Year Focus | 2,016 | |
Document Fiscal Period Focus | Q2 | |
Current Fiscal Year End Date | --12-31 | |
Trading Symbol | oksb | |
Entity Filer Category | Accelerated Filer | |
Entity Common Stock, Shares Outstanding | 18,689,340 |
Consolidated Statements Of Fina
Consolidated Statements Of Financial Condition - USD ($) $ in Thousands | Jun. 30, 2016 | Dec. 31, 2015 |
Assets: | ||
Cash and due from banks | $ 35,822 | $ 24,971 |
Interest-bearing deposits | 32,266 | 53,158 |
Cash and cash equivalents | 68,088 | 78,129 |
Securities held to maturity (fair values of $12,660 and $12,282, respectively) | 12,161 | 11,797 |
Securities available for sale (amortized cost of $406,427 and $401,136, respectively) | 410,135 | 400,331 |
Loans held for sale | 7,010 | 7,453 |
Loans receivable | 1,814,367 | 1,771,976 |
Less: Allowance for loan losses | (26,876) | (26,106) |
Net loans receivable | 1,787,491 | 1,745,870 |
Accrued interest receivable | 5,730 | 5,767 |
Non-hedge derivative asset | 5,163 | 1,793 |
Premises and equipment, net | 22,971 | 23,819 |
Other real estate | 2,122 | 2,274 |
Goodwill | 13,467 | 13,467 |
Other intangible assets, net | 5,934 | 6,615 |
Bank owned life insurance | 28,131 | 27,676 |
Other assets | 33,859 | 32,031 |
Total assets | 2,402,262 | 2,357,022 |
Deposits: | ||
Noninterest-bearing demand | 545,421 | 596,494 |
Interest-bearing demand | 160,886 | 151,015 |
Money market accounts | 547,415 | 534,357 |
Savings accounts | 55,209 | 56,333 |
Time deposits of $100,000 or more | 323,137 | 311,538 |
Other time deposits | 270,797 | 234,368 |
Total deposits | 1,902,865 | 1,884,105 |
Accrued interest payable | 931 | 867 |
Non-hedge derivative liability | 5,163 | 1,793 |
Other liabilities | 10,982 | 11,684 |
Other borrowings | 153,568 | 110,927 |
Subordinated debentures | 46,393 | 51,548 |
Total liabilities | 2,119,902 | 2,060,924 |
Shareholders' equity: | ||
Common stock - $1 par value; 40,000,000 shares authorized; 21,223,613 and 21,138,028 shares issued, respectively | 21,224 | 21,138 |
Additional paid in capital | 122,293 | 121,966 |
Retained earnings | 177,373 | 173,210 |
Accumulated other comprehensive loss | 1,503 | (1,290) |
Treasury stock, at cost; 2,472,830 and 1,131,226 shares, respectively | (40,033) | (18,926) |
Total shareholders' equity | 282,360 | 296,098 |
Total liabilities & shareholders' equity | $ 2,402,262 | $ 2,357,022 |
Consolidated Statements Of Fin3
Consolidated Statements Of Financial Condition (Parenthetical) - USD ($) $ in Thousands | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 |
Consolidated Statements Of Financial Condition [Abstract] | |||
Held to maturity securities, fair value | $ 12,660 | $ 12,282 | |
Available for sale securities, amortized cost | $ 406,427 | $ 401,136 | |
Common stock, par value | $ 1 | $ 1 | $ 1 |
Common stock, shares authorized | 40,000,000 | 40,000,000 | 40,000,000 |
Common stock, shares issued | 21,223,613 | 21,223,613 | 21,138,028 |
Treasury Stock, Shares | 2,472,830 | 1,131,226 |
Consolidated Statements Of Oper
Consolidated Statements Of Operations - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | |
Interest income: | ||||
Interest and fees on loans | $ 20,031 | $ 15,839 | $ 40,061 | $ 31,409 |
Investment securities: | ||||
U.S. Government and agency obligations | 302 | 381 | 598 | 717 |
Mortgage-backed securities | 1,038 | 660 | 2,115 | 1,378 |
State and political subdivisions | 350 | 287 | 698 | 576 |
Other securities | 272 | 221 | 516 | 431 |
Other interest-earning assets | 51 | 67 | 104 | 168 |
Total interest income | 22,044 | 17,455 | 44,092 | 34,679 |
Interest expense: | ||||
Interest-bearing demand | 65 | 30 | 127 | 63 |
Money market accounts | 329 | 183 | 650 | 365 |
Savings accounts | 18 | 9 | 37 | 17 |
Time deposits of $100,000 or more | 448 | 170 | 815 | 408 |
Other time deposits | 568 | 470 | 1,106 | 844 |
Other borrowings | 342 | 241 | 651 | 468 |
Subordinated debentures | 579 | 561 | 1,171 | 1,113 |
Total interest expense | 2,349 | 1,664 | 4,557 | 3,278 |
Net interest income | 19,695 | 15,791 | 39,535 | 31,401 |
Provision (credit) for loan losses | 10 | (1,136) | 4,385 | (3,023) |
Net interest income after provision (credit) for loan losses | 19,685 | 16,927 | 35,150 | 34,424 |
Noninterest income: | ||||
Service charges and fees | 2,556 | 2,450 | 5,105 | 4,878 |
Gain on sales of mortgage loans, net | 722 | 621 | 1,123 | 969 |
Gain on sales/calls of investment securities, net | 165 | 138 | 291 | 143 |
Other noninterest income | 428 | 200 | 767 | 259 |
Total noninterest income | 3,871 | 3,409 | 7,286 | 6,249 |
Noninterest expense: | ||||
Salaries and employee benefits | 9,587 | 8,289 | 18,929 | 16,203 |
Occupancy | 2,669 | 2,201 | 5,340 | 4,485 |
Data processing | 430 | 410 | 900 | 856 |
FDIC and other insurance | 432 | 316 | 800 | 628 |
Other real estate, net | 8 | 112 | 21 | 133 |
General and administrative | 2,142 | 2,654 | 5,274 | 4,759 |
Total noninterest expense | 15,268 | 13,982 | 31,264 | 27,064 |
Income before taxes | 8,288 | 6,354 | 11,172 | 13,609 |
Taxes on income | 2,876 | 2,193 | 3,891 | 4,913 |
Net income | $ 5,412 | $ 4,161 | $ 7,281 | $ 8,696 |
Basic earnings per common share | $ 0.29 | $ 0.22 | $ 0.38 | $ 0.46 |
Diluted earnings per common share | 0.28 | 0.22 | 0.38 | 0.46 |
Common dividends declared per share | $ 0.08 | $ 0.06 | $ 0.16 | $ 0.12 |
Consolidated Statements Of Comp
Consolidated Statements Of Comprehensive Income - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | |
Consolidated Statements Of Comprehensive Income [Abstract] | ||||
Net income | $ 5,412 | $ 4,161 | $ 7,281 | $ 8,696 |
Other comprehensive income: | ||||
Unrealized holding gain (loss) on available for sale securities | 1,693 | (1,375) | 4,804 | 474 |
Reclassification adjustment for net gains arising during the period | (165) | (138) | (291) | (143) |
Change in fair value of derivative used for cash flow hedge | 95 | (10) | 211 | (84) |
Other comprehensive income (loss), before tax | 1,623 | (1,523) | 4,724 | 247 |
Tax benefit (expense) related to items of other comprehensive income (loss) | (666) | 617 | (1,931) | (85) |
Other comprehensive income (loss), net of tax | 957 | (906) | 2,793 | 162 |
Comprehensive income | $ 6,369 | $ 3,255 | $ 10,074 | $ 8,858 |
Consolidated Statements Of Cash
Consolidated Statements Of Cash Flows - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2016 | Jun. 30, 2015 | |
Operating activities: | ||
Net income | $ 7,281 | $ 8,696 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Provision (credit) for loan losses | 4,385 | (3,023) |
Adjustments to other real estate | 63 | |
Deferred tax expense | 39 | 1,286 |
Asset depreciation | 1,436 | 1,172 |
Securities premium amortization, net of discount accretion | 1,539 | 1,394 |
Amortization of intangibles | 1,193 | 480 |
Restricted stock amortization expense | 448 | 656 |
Net gain on sales/calls of investment securities | (291) | (143) |
Net gain on sales of mortgage loans | (1,123) | (969) |
Net (gain) loss on sales of premises/equipment | 7 | (13) |
Net (gain) loss on sales of other real estate | 5 | (59) |
Proceeds from sales of held for sale loans | 56,253 | 44,913 |
Held for sale loans originated for resale | (54,682) | (49,214) |
Net changes in assets and liabilities: | ||
Accrued interest receivable | 37 | 442 |
Bank owned life insurance | (455) | (110) |
Other assets | (8,129) | 1,806 |
Accrued interest payable | 64 | 5 |
Other liabilities | 2,924 | (241) |
Net cash provided by operating activities | 10,931 | 7,141 |
Investing activities: | ||
Proceeds from sales of available for sale securities | 41,530 | |
Held to maturity securities | 940 | |
Available for sale securities | 33,828 | 50,586 |
Purchases of held to maturity securities | (444) | |
Purchases of available for sale securities | (81,817) | (60,255) |
Purchases of bank owned life insurance | (20,000) | |
Loans originated, net of principal repayments | (46,059) | (43,689) |
Purchases of premises and equipment | (639) | (888) |
Proceeds from sales of premises and equipment | 44 | 66 |
Proceeds from sales of other real estate | 147 | 900 |
Net cash used in investing activities | (53,410) | (72,340) |
Financing activities: | ||
Net increase in deposits | 18,760 | 90,447 |
Net increase (decrease) in other borrowings | 42,641 | (3,541) |
Net proceeds from issuance of common stock | 413 | 363 |
Purchases of treasury stock | (21,107) | (4,040) |
Redemption of trust preferred securities | (5,155) | |
Common stock dividends paid | (3,113) | (2,277) |
Preferred stock dividends paid | (1) | (1) |
Net cash provided by financing activities | 32,438 | 80,951 |
Net (decrease) increase in cash and cash equivalents | (10,041) | 15,752 |
Cash and cash equivalents: | ||
Beginning of period | 78,129 | 140,936 |
End of period | $ 68,088 | $ 156,688 |
Consolidated Statement Of Share
Consolidated Statement Of Shareholders' Equity - USD ($) $ in Thousands | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Accumulated Other Comprehensive Gain/(Loss) [Member] | Treasury Stock [Member] | Total |
Beginning balance, Shares at Dec. 31, 2014 | 19,193,059 | |||||
Beginning balance at Dec. 31, 2014 | $ 19,811 | $ 101,245 | $ 160,427 | $ (395) | $ (10,302) | $ 270,786 |
Dividends declared: | ||||||
Preferred | (1) | (1) | ||||
Common | (2,285) | (2,285) | ||||
Common stock issued | $ 89 | 256 | 345 | |||
Common stock issued, shares | 88,937 | |||||
Net common stock issued under employee plans and related tax expense | $ 1 | 17 | 18 | |||
Net common stock issued under employee plans and related tax expense, shares | 1,041 | |||||
Other comprehensive income, net of tax | 162 | 162 | ||||
Treasury shares purchased | (4,040) | (4,040) | ||||
Treasury shares purchased, shares | (249,492) | |||||
Net income | 8,696 | 8,696 | ||||
Ending balance, Shares at Jun. 30, 2015 | 19,033,545 | |||||
Ending balance at Jun. 30, 2015 | $ 19,901 | 101,518 | 166,837 | (233) | (14,342) | 273,681 |
Beginning balance, Shares at Dec. 31, 2015 | 20,006,802 | |||||
Beginning balance at Dec. 31, 2015 | $ 21,138 | 121,966 | 173,210 | (1,290) | (18,926) | 296,098 |
Dividends declared: | ||||||
Preferred | (1) | (1) | ||||
Common | (3,117) | (3,117) | ||||
Net common stock issued under employee plans and related tax expense | $ 86 | 327 | 413 | |||
Net common stock issued under employee plans and related tax expense, shares | 85,585 | |||||
Other comprehensive income, net of tax | 2,793 | 2,793 | ||||
Treasury shares purchased | (21,107) | (21,107) | ||||
Treasury shares purchased, shares | (1,341,604) | |||||
Net income | 7,281 | 7,281 | ||||
Ending balance, Shares at Jun. 30, 2016 | 18,750,783 | |||||
Ending balance at Jun. 30, 2016 | $ 21,224 | $ 122,293 | $ 177,373 | $ 1,503 | $ (40,033) | $ 282,360 |
Consolidated Statement of Shar8
Consolidated Statement of Shareholders' Equity (Parenthetical) - $ / shares | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | |
Consolidated Statement Of Shareholders' Equity [Abstract] | ||||
Common Stock, Dividends, Per Share, Declared | $ 0.08 | $ 0.06 | $ 0.16 | $ 0.12 |
Summary of Significant Accounti
Summary of Significant Accounting And Reporting Policies | 6 Months Ended |
Jun. 30, 2016 | |
Significant Accounting And Reporting Policies [Abstract] | |
Significant Accounting And Reporting Policies | N OTE 1 : SIGNIFICANT ACCOUNTING AND REPORTING POLICIES The accompanying unaudited consolidated financial statements were prepared in accordance with instructions for Form 10-Q and, therefore, do not include all information and notes necessary for a complete presentation of financial position, results of operations, shareholders’ equity, cash flows, and comprehensive income in conformity with accounting principles generally accepted in the United States. However, the unaudited consolidated financial statements include all adjustments which, in the opinion of management, are necessary for a fair presentation. Those adjustments consist of normal recurring adjustments. The results of operations for the three months ended June 30, 2016, and the cash flows for the six months ended June 30, 2016 , should not be considered indicative of the results to be expected for the full year. These unaudited consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in the Southwest Bancorp, Inc. Annual Report on Form 10-K for the year ended December 31, 201 5 . The accompanying unaudited consolidated financial statements include the accounts of Southwest Bancorp, Inc. ( “we”, “our”, “us”, “Southwest”), and our consolidated subsidiaries, including Bank SNB, an Oklahoma state banking corporation (“Bank SNB”), our banking subsidiary, and the consolidated subsidiaries of Bank SNB. All significant intercompany transactions and balances have been eliminated in consolidation. In accordance with Accounting Standards Codification (“ASC”) 855, Subsequent Events , we have evaluated subsequent events for potential recognition and disclosure through the date the consolidated financial statements included in this Quarterly Report on Form 10-Q were issued. |
Investment Securities
Investment Securities | 6 Months Ended |
Jun. 30, 2016 | |
Investment Securities [Abstract] | |
Investment Securities | NOTE 2 : INVESTMENT SECURITIES A summary of the amortized cost and fair values of investme nt securities at June 30, 2016 and December 31, 2015 follows: Amortized Gross Unrealized Fair (Dollars in thousands) Cost Gains Losses Value At June 30, 2016 Held to Maturity: Obligations of state and political subdivisions $ 12,161 $ 500 $ (1) $ 12,660 Total $ 12,161 $ 500 $ (1) $ 12,660 Available for Sale: Federal agency securities $ 67,262 $ 1,187 $ (162) $ 68,287 Obligations of state and political subdivisions 46,787 1,559 (29) 48,317 Residential mortgage-backed securities 257,713 1,795 (501) 259,007 Asset-backed securities 9,656 - (239) 9,417 Corporate debt 25,009 203 (105) 25,107 Total $ 406,427 $ 4,744 $ (1,036) $ 410,135 At December 31, 2015 Held to Maturity: Obligations of state and political subdivisions $ 11,797 $ 488 $ (3) $ 12,282 Total $ 11,797 $ 488 $ (3) $ 12,282 Available for Sale: Federal agency securities $ 78,363 $ 220 $ (373) $ 78,210 Obligations of state and political subdivisions 47,079 620 (134) 47,565 Residential mortgage-backed securities 240,804 936 (1,852) 239,888 Asset-backed securities 9,639 - (224) 9,415 Corporate debt 25,251 148 (146) 25,253 Total $ 401,136 $ 1,924 $ (2,729) $ 400,331 Residential mortgage-backed securities consist of agency securities underwritten and guaranteed by Government National Mortgage Association, Federal Home Loan Mortgage Corporation, and Federal National Mortgage Association. Other securities consist of corporate stock. Securities with limited marketa bility, such as Federal Reserve Bank stock, Federal Home Loan Bank (“FHLB”) stock, and certain other investments, are carried at cost and included in other assets on the consolidated statement s of financial condition. Total investments carried at cost were $ 14.4 million and $10.4 million at June 30, 2016 an d December 31, 2015, respectively . There are no identified events or changes in circumstances that may have a significant adverse effect on the investments carried at cost. A comparison of the amortized cost and approximate fair value of our investment securities by maturity date at June 30, 2016 follows: Available for Sale Held to Maturity Amortized Fair Amortized Fair (Dollars in thousands) Cost Value Cost Value One year or less $ 13,241 $ 13,326 $ 1,657 $ 1,656 More than one year through five years 279,068 281,813 6,037 6,216 More than five years through ten years 69,186 69,737 4,467 4,788 More than ten years 44,932 45,259 - - Total $ 406,427 $ 410,135 $ 12,161 $ 12,660 The foregoing analysis assumes that our residential mortgage-backed securities mature during the period in which they are estimated to prepay and are based on expected mat urities. Expected maturities differ from contractual maturities because borrowers of the underlying mortgages may have the right to call or prepay obligations with or without prepayment penalties. No other prepayment or repricing assumptions have been applied to our investment securities for this analysis. Gain or loss on sale of investments is based upon the specifi c identification method. The table below shows the proceeds, gross realized gains and gross realized losses recognized on the investment portfolio for the three and six months ended June 30, 2016 and June 30, 2015. T he sales during the three and six months ended June 30, 2016 resulted from a slight restructuring of our investment portfolio and the s ales during the three and six months ended June 30, 2015 resulted from residual payments related to the sale of a private equity investment during the fourth quarter of 2014. For the three months For the six months ended June 30, ended June 30, (Dollars in thousands) 2016 2015 2016 2015 Proceeds from sales $ 18,726 $ 138 $ 41,530 $ 143 Gross realized gains 173 138 345 143 Gross realized losses (8) - (54) - The following table shows securities with gross unrealized losses and their fair values by the length of time that the individual securities had been in a continuous unrealized loss position at June 30, 2016 and December 31, 2015 . Securities whose market values exceed cost are excluded from this table. Continuous Unrealized Amortized cost of Loss Existing for: Fair value of Number of securities with Less Than More Than securities with (Dollars in thousands) Securities unrealized losses 12 Months 12 Months unrealized losses At June 30, 2016 Held to Maturity: Obligations of state and political subdivisions 3 $ 2,029 $ (0) $ (1) $ 2,028 3 $ 2,029 $ (0) $ (1) $ 2,028 Available for Sale: Federal agency securities 6 $ 15,368 $ (132) $ (30) $ 15,206 Obligations of state and political subdivisions 1 2,157 - (29) 2,128 Residential mortgage-backed securities 42 80,904 (235) (266) 80,403 Asset-backed securities 3 9,656 (86) (153) 9,417 Corporate debt 3 10,004 (22) (83) 9,899 Total 55 $ 118,089 $ (475) $ (561) $ 117,053 At December 31, 2015 Held to Maturity: Obligations of state and political subdivisions 1 $ 1,677 $ - $ (3) $ 1,674 1 $ 1,677 $ - $ (3) $ 1,674 Available for Sale: Federal agency securities 14 $ 42,438 $ (138) $ (235) $ 42,065 Obligations of state and political subdivisions 14 11,765 (57) (77) 11,631 Residential mortgage-backed securities 87 175,043 (1,247) (605) 173,191 Asset-backed securities 3 9,639 (115) (109) 9,415 Corporate debt 6 14,987 (75) (71) 14,841 Total 124 $ 253,872 $ (1,632) $ (1,097) $ 251,143 We evaluate all securities on an individual basis for other-than-temporary impairment on at least a quarterly basis. Consideration is given to the length of time and the extent to which the fair value has been less than cost, the financial condition and near-term prospects of the issuer, and our intent and ability to retain our investment in the issuer for a period of time sufficient to allow for an anticipated recovery in fair value. We have the ability and intent to hold the securities classified as held to maturity until they mature, at which time we expect to receive full value for the securities. Furthermor e, as of June 30, 2016 , management does not have the intent to sell any of the securities classified as available for sale in the table above and believes that it is not likely that we will have to sell any such securities before a recovery of cost. The declines in fair value were attributable to recent increases in market interest rates over the yields available at the time the underlying securities were purchased or increases in spreads over market interest rates. Management does not believe any of the securities are impaired due to credit quality. Accordingly, as of June 30, 2016 , management believes the impairment of these investments is not deemed to be other-than-temporary. As required by law, available for sale investment securities are pledged to secure public and trust deposits, sweep agreements, and borrowings from the FHLB. Securities with an amortized cost of $ 184.9 million and $ 174.0 million were pledged to meet such requirements at June 30, 2016 and December 31, 2015 , respectively. Any amount over-pledged can be released at any time. |
Loans And Allowance For Loan Lo
Loans And Allowance For Loan Losses | 6 Months Ended |
Jun. 30, 2016 | |
Loans And Allowance For Loan Losses [Abstract] | |
Loans And Allowance For Loan Losses | NOTE 3 : LOANS AND ALLOWANCE FOR LOAN LOSSES We extend commercial and consumer credit primarily to customers in the states of Oklahom a, Texas, Kansas, and Colorado. Our commercial lending operations are concentrated in Oklahoma City, Tulsa, Dallas, Wichita, and other metropolitan markets in Oklahoma, Texas , Kansas, and Colorado . As a result, the collect a bility of our loan portfolio can be affected by changes in the economic conditions in those states and markets . Please see Note 9: Operating Segments for more detail regarding loans by market. At June 30, 2016 and December 31, 2015 , substantially all of our l oans were collateralized with real estate, inventory, accounts receivable, and/or other assets or were guaranteed by agencies of the United States government. Our loan classifications were as follows: (Dollars in thousands) At June 30, 2016 At December 31, 2015 Real estate mortgage: Commercial $ 862,287 $ 938,462 One-to-four family residential 183,693 161,958 Real estate construction: Commercial 175,805 129,070 One-to-four family residential 20,347 21,337 Commercial 558,472 507,173 Installment and consumer 20,773 21,429 1,821,377 1,779,429 Less: Allowance for loan losses (26,876) (26,106) Total loans, net 1,794,501 1,753,323 Less: Loans held for sale (included above) (7,010) (7,453) Net loans receivable $ 1,787,491 $ 1,745,870 Concentrations of Cred it . At June 30, 2016 , $554.3 million, or 30% , and $ 435.2 million, or 24 %, o f our loan s consisted of loans to individuals and businesses in the real estate and healthca re industries, respectively . We do not have any other concentrations of loans to individuals or businesses involved in a single industry totaling 10% or more of total loans. Loans Held for Sale . We had loans held for sale of $ 7.0 million and $ 7.5 million at June 30, 2016 and December 31, 2015 , respectively. The loans currently classified as held for sale, primarily residential mortgage loans, are carried at the lower of cost or market value. A substantial portion of our one-to-four family residential loans and loan servicing rights are sold to one buyer. These mortgage loans are generally sold within a one -month period from loan closing at amounts determined by the investor commitment based upon the pricing of the loan. These loans are available for sale in the secondary market. Loan Servicing . We earn fees for servicing real estate mortgages and other loans owned by others. The fees are generally calculated on the outstanding principal balance of the loans serviced and are recorded as noninterest income when earned. The unpaid principal balance of real estate mortgage loans serviced for others totaled $ 443.6 million and $ 432.3 million at June 30, 2016 and December 31, 2015 , respectively. Loan servicing rights are capitalized based on estimated fair value at the point of origination. The servicing rights are amortized over the period of estimated net servicing income. Acquired Loan s . On October 9, 2015, we completed the acquisition of First Commercial Bancshares (“Bancshares”) by merging Bancshares with and into us (the “Merger”). In connection with the Merger, First Commercial Bank was merged with and into Bank SNB, with Bank SNB being the surviving bank. We evaluated $200.0 million of the loans purchased in conjunction with the merger in accordance with the provisions of FASB ASC Topic 310-20, Nonrefundable Fees and Other Costs , and those loans were recorded with a $4.5 million discount. As a result, the fair value discount on these loans is being accreted into interest income over the weighted average life of the loans using a constant yield method. The remaining $7.8 million of loans evaluated were considered purchased credit impaired loans within the provisions of FASB ASC Topic 310-30, Loans and Debt Securities Acquired with Deteriorated Credit Quality , and were recorded with a $3.3 million discount. These purchased credit impaired loans will recognize interest income through accretion of the difference between the carrying amount of the loans and the expected cash flows. On June 19, 2009, Bank SNB entered into purchase and assumption agreement s with the Federal Deposit Insurance Corporation (“FDIC”) to acquire substantially all loans as well as certain other related assets of First National Bank of Anthony, Anthony, Kansas in an FDIC-assisted transaction. Originally, Bank SNB and the FDIC ente red into loss sharing agreements that provide d Bank SNB with significant protection against credit losses from loans and related assets acquired in the transaction (also known as acquired, covered, or discounted loans). On April 10, 2015, Bank SNB entered into an agreement with the FDIC to terminate these loss sharing agreements with the FDIC. All future recoveries, charge-offs, and expenses related to these covered assets are now recognized entirely by Bank SNB. Loans that were covered under the loss sharing agreements with the FDIC are reported in loans. The acquired loans were initially recorded at fair value (as determined by the present value of expected future cash flows) with no allowance for loan losses. Subsequent decreases in expected cash flows are recognized as impairments. Valuation allowances on these loans reflect only losses incurred after the acquisition. Changes in the carrying amounts and accretable yields for the ACS 310-30 loans that were acquired were as follows for the three and six months ended June 30, 2016 and June 30, 2015 : For the three months ended June 30, 2016 2015 Carrying Carrying Accretable amount Accretable amount (Dollars in thousands) Yield of loans Yield of loans Balance at beginning of period $ 742 $ 7,288 $ 419 $ 4,310 Payments received - (286) - (208) Net charge-offs (11) (196) - - Net reclassifications to / from nonaccretable amount - - 240 - Accretion (48) - (198) 442 Balance at end of period $ 683 $ 6,806 $ 461 $ 4,544 For the six months ended June 30, 2016 2015 Carrying Carrying Accretable amount Accretable amount (Dollars in thousands) Yield of loans Yield of loans Balance at beginning of period $ 807 $ 7,914 $ 540 $ 4,971 Payments received - (790) - (869) Net charge-offs (11) (318) - - Net reclassifications to / from nonaccretable amount - - 240 - Accretion (113) - (319) 442 Balance at end of period $ 683 $ 6,806 $ 461 $ 4,544 Nonperforming / Past Due Loans . We identify past due loans based on contractual terms on a loan-by-loan basis and generally place loans, except for consumer loans, on nonaccrual when any portion of the principal or intere st is ninety d ays past due and collateral is insufficient to discharge the debt in full. Interest accrual may also be discontinued earlier if, in management’s opinion, collection is unlikely. Generally, past due consumer installment loans are not placed on nonaccrual but are charged-off when they are four months past due. Accrued interest is written off when a loan is placed on nonaccrual status. Subsequent interest income is recorded when cash receipts are received from the borrower and collectability of the principal amount is reasonably assured. Under generally accepted accounting principles and instructions to reports of condition and income of banking regulators, a nonaccrual loan may be returned to accrual status: (i) when none of its principal and interest is due and unpaid, repayment is expected, and there has been a sustained period (at least six months) of repayment performance; (ii) when the loan is well-secured, there is a sustained period of performance and repayment within a reasonable period is reasonably assured; or (iii) when the loan otherwise becomes well-secured and in the process of collection. Loans that have been restructured because of weakened financial positions of the borrowers also may be returned to accrual status if repayment is reasonably assured under the revised terms and there has been a sustained period of repayment performance. Management strives to carefully monitor credit quality and to identify loans that may become nonperforming. At any time, however, there are loans included in the portfolio that will result in losses to us t hat have not been identified as nonperformi ng or potential problem loans. Because the loan portfolio contains a significant number of commercial (including energy banking credits) and commercial real estate loans with relatively large balances , the unexpected deterioration of one or a few such loans may cause a significant increase in nonperforming assets and may lead to a material increase in charge-offs and the provision for loan losses in future periods. The following table shows the recorded investment in loans on nonaccrual status: (Dollars in thousands) At June 30, 2016 At December 31, 2015 Real estate mortgage: Commercial $ 3,894 $ 3,543 One-to-four family residential 3,106 1,729 Real estate construction: Commercial 1,436 1,010 Commercial 13,752 13,491 Other consumer 71 85 Total nonaccrual loans $ 22,259 $ 19,858 During the first six months of 2016 , $0.4 million of interest income was received on nonaccruing loans . If interest on all nonaccrual loans had been accrued for the six months ended June 30, 2016 , additional interest income of $ 0.7 million would have been recorded. The following table shows an age analysis of past due loans at June 30, 2016 and December 31, 2015: December 31, 2015 90 days + Recorded loans 30-89 days past due and Total past Total > 90 days and (Dollars in thousands) past due nonaccrual due Current loans accruing At June 30, 2016 Real estate mortgage: Commercial $ 462 $ 3,894 $ 4,356 $ 857,931 $ 862,287 $ - One-to-four family residential 206 3,120 3,326 180,367 183,693 14 Real estate construction: Commercial 851 811 1,662 174,143 175,805 - One-to-four family residential - 625 625 19,722 20,347 - Commercial 3,847 13,800 17,647 540,825 558,472 48 Other 400 75 475 20,298 20,773 4 Total $ 5,766 $ 22,325 $ 28,091 $ 1,793,286 1,821,377 $ 66 At December 31, 2015 Real estate mortgage: Commercial $ 272 $ 3,992 $ 4,264 $ 934,198 $ 938,462 $ 449 One-to-four family residential 549 1,777 2,326 159,632 161,958 48 Real estate construction: Commercial - 493 493 128,060 128,553 - One-to-four family residential - 517 517 21,337 21,854 - Commercial 278 13,491 13,769 493,404 507,173 - Other 65 88 153 21,276 21,429 3 Total $ 1,164 $ 20,358 $ 21,522 $ 1,757,907 1,779,429 $ 500 Impaired Loans . A loan is considered to be impaired when, based on current information and events, it is probable that we will be unable to collect all amounts due according to the contractual terms of the loan agreement. Each loan deemed to be impaired (loans on nonaccrual status and greater than $100,000, and all troubled debt restructurings) is evaluated on an individual basis using the discounted present value of expected cash flows based on the loan’s initial effective interest rate, the fair value of collateral, or the market value of the loan. Smaller balance and homogeneous loans, including mortgage and consumer loans, are collectively evaluated for impairment. Interest payments on impaired loans are applied to principal until collectability of the principal amount is reasonably assured, and, at that time, interest is recognized on a cash basis. Impaired loans, or portions thereof, are charged-off when deemed uncollectible. Impaired loans as of June 30, 2016 and December 31, 2015 are shown in the following table: With No Specific Allowance With A Specific Allowance Unpaid Unpaid Recorded Principal Recorded Principal Related (Dollars in thousands) Investment Balance Investment Balance Allowance At June 30, 2016 Commercial real estate $ 1,838 $ 2,171 $ 13,992 $ 17,100 $ 752 One-to-four family residential 1,298 1,614 1,822 1,850 116 Real estate construction 1,229 1,456 207 245 40 Commercial 8,761 31,986 5,527 5,725 2,915 Other 71 83 - - - Total $ 13,197 $ 37,310 $ 21,548 $ 24,920 $ 3,823 At December 31, 2015 Commercial real estate $ 12,166 $ 15,747 $ 10,940 $ 10,940 $ 1,575 One-to-four family residential 1,688 2,195 185 186 11 Real estate construction 1,078 1,327 - - - Commercial 4,095 5,430 9,844 15,968 2,526 Other 85 94 - - - Total $ 19,112 $ 24,793 $ 20,969 27,094 $ 4,112 The average recorded investment of loans classified as impaired and the interest income recognized on those loans for the six months ended June 30, 2016 and June 30, 2015 are shown in the following table: As of and for the six months ended June 30, 2016 2015 Average Average Recorded Interest Recorded Interest (Dollars in thousands) Investment Income Investment Income Commercial real estate $ 17,365 $ 871 $ 23,862 $ 473 One-to-four family residential 3,627 12 1,777 1 Real estate construction 1,408 - 376 - Commercial 13,274 32 6,080 20 Other 77 - 1 - Total $ 35,751 $ 915 $ 32,096 $ 494 Troubled Debt Restructurings. Our loan portfolio also includes certain lo ans that have been modified in troubled debt restructuring s , where economic concessions have been granted to borrowers who have experienced financial difficulties. These concessions typically result from loss mitigation activities and can include reductions in the interest rate, payment extensions, forgiveness of principal, forbearance, or other actions. Troubled debt restructurings are classified as impaired at the time of restructuring and are then further classified as nonperforming, potential problem, or performing restructured, as applicable. Loans modified in troubled debt restructurings may be returned to performing status after considering the borrowers’ sustained repayment for a reasonable period of at least six months. When we modify loans in a troubled debt restructuring, an evaluation of any possible impairment is performed similar to the evaluation done with respect to other impaired loans based on the present value of expected future cash flows, discounted at the contractual interest rate of the original loan agreement, or use of the current fair value of the collateral, less selling costs for collateral dependent loans. If it is determined that the value of the modified loan is less than the recorded investment in the loan (net of previous charge-offs, deferred loan fees or costs, and unamortized premium or discount), an impairment is recognized through an allowance estimate or a charge-off to the allowance. Troubled debt restructured loans outstanding as of June 30, 2016 and December 31, 2015 were as follows: At June 30, 2016 At December 31, 2015 (Dollars in thousands) Accruing Nonaccrual Accruing Nonaccrual Commercial real estate $ 11,936 $ 358 $ 19,563 $ 448 One-to-four family residential 14 47 13 48 Commercial 536 5,510 659 5,796 Total $ 12,486 $ 5,915 $ 20,235 $ 6,292 At June 30, 2016 and December 31, 2015, we had no significant commitments to lend additional funds to debtors whose loan terms had been modified in a troubled debt restructuring. There were no l oans modified as troubled debt restructurings that occurred during the three months ended June 30, 2016 or June 30, 2015. Loans modified as troubled debt restructurings that occurred during the six months ended June 30, 2016 and June 30, 2015 are shown in the following table: For the six months ended June 30, 2016 2015 Number of Recorded Number of Recorded (Dollars in thousands) Modifications Investment Modifications Investment Commercial 1 $ 26 - $ - Total 1 $ 26 - $ - The modifications of loans identified as troubled debt restructurings primarily related to payment reductions, payment extensions, and/or reductions in the interest rate. The financial impact of troubled debt restructurings is not significant. There were no loans modified as a troubled debt restructuring that subsequently defaulted during the three or six months ended June 30, 2016 or June 30, 2015 . Default, for this purpose, is deemed to occur when a loan is 90 days o r more past due or transferred to nonaccrual and is within twelve months of restructuring . Credit Quality Indicators . To assess the credit quality of loans, we categorize loans into risk categories based on relevant information about the ability of the borrowers to service their debts such as current financial information, historical payment experience, credit documentation, public information, and current economic trends, among other factors. This analysis is performed on a quarterly basis. We use the following definitions for risk ratings: Special mention – Loans classified as special mention have potential weaknesses that deserve management’s close attention. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for these loans or of the institution’s credit position at some future date. Substandard – Loans classified as substandard are inadequately protected by the current net worth and paying capacity of the obligors or of the collateral pledged, if any. Loans so classified have one or more well-defined weaknesses that jeopardize the liquidation of the debt. They are characterized by the distinct possibility that we will sustain some loss if the deficiencies are not corrected. These loans are considered potential problem or nonperforming loans depending on the accrual status of the loans. Doubtful – Loans classified as doubtful have all the weaknesses inherent in those classified as substandard, with the added characteristics that the weaknesses make collection or liquidation in full, on the basis of currently existing facts, conditions, and values, highly questionable and improbable. These loans are considered nonperforming. Loans not meeting the criteria above that are analyzed as part of the above described process are considered to be pass rated loans. As of June 30, 2016 and December 31, 2015, based on the most recent analysis performed as of those dates, the risk category of loans by class was as follows: Commercial 1-4 Family Real Estate (Dollars in thousands) Real Estate Residential Construction Commercial Other Total At June 30, 2016 Grade: Pass $ 818,634 $ 177,948 $ 194,507 $ 496,890 $ 20,533 $ 1,708,512 Special Mention 6,286 1,286 209 18,246 167 26,194 Substandard 37,367 4,459 1,436 43,066 73 86,401 Doubtful - - - 270 - 270 Total $ 862,287 $ 183,693 $ 196,152 $ 558,472 $ 20,773 $ 1,821,377 At December 31, 2015 Grade: Pass $ 902,034 $ 157,912 $ 148,811 $ 480,928 $ 21,284 $ 1,710,969 Special Mention 5,916 29 586 2,941 50 9,522 Substandard 30,512 4,017 1,010 18,848 95 54,482 Doubtful - - - 4,456 - 4,456 Total $ 938,462 $ 161,958 $ 150,407 $ 507,173 $ 21,429 $ 1,779,429 Allowance for Loan Losses . The allowance for loan losses is a reserve established through the provision for loan losses charged to operations. Loan amounts which are determined to be uncollectible are charged against this allowance, and recoveries, if any, are added to the allowance. The appropriate amount of the allowance is based on periodic review and evaluation of the loan portfolio and quarterly assessments of the probable losses inherent in the loan portfolio . The amount of the loan loss provision for a period is based solely upon the amount needed to cause the allowance to reach the level deemed appropriate after the effects of net charge-offs for the period. Management believes the level of the allowance is appropriate to absorb probable losses inherent in the loan portfolio. The allowance for loan losses is determined in accordance with regulatory guidelines and generally accepted accounting principles and is comprised of two primary components, specific and general. There is no one factor, or group of factors, that produces the amount of an appropriate allowance for loan losses, as the methodology for assessing the allowance for loan losses makes use of evaluations of individual impaired loans along with other factors and analysis of loan categories. This assessment is highly qualitative and relies upon judgments and estimates by management. The specific allowance is recorded based on the result of an evaluation consistent with ASC 310.10.35, Receivables: Subsequent Measurement , for each impaired loan. Collateral dependent loans are evaluated for impairment based upon the fair value of the collateral. The amount and level of the impairment allowance is ultimately determined by management’s estimate of the amount of expected future cash flows or, if the loan is collateral dependent, on the value of collateral, which may vary from period to period depending on changes in the financial condition of the borrower or changes in the estimated value of the collateral. Charge-offs against the allowance for impaired loans are made when and to the extent loans are deemed uncollectible. Any portion of a collateral dependent impaired loan in excess of the fair value of the collateral that is determined to be uncollectible is charged off. The general component of the allowance is calculated based on ASC 450, Contingencies . Loans not evaluated for specific allowance are segmented into loan pools by type of loan . The non-owner occupied commercial real estate pool is further segmented by the market in which the loan collateral is located. Our primary markets are Oklahoma, Texas, and Kansas , and loans secured by real estate in those states are included in the “in-market” pool, with the remaining loans being included in the “out-of-market” pool. Estimated allowances are based on historical loss trends with adjustments factored in based on qualitative risk factors both internal and external to us . The historical loss trend is determined by loan pool and segmentation and is based on the actual loss history experienced by us over the most recent three years. The qualitative risk factors include, but are not limited to, economic and business conditions, changes in lending staff, lending policies and procedures, quality of loan review, changes in the nature and volume of the portfolios, loss and recovery trends, asset quality trends, and legal and regulatory considerations. Independent appraisals on real estate collateral securing loans are obtained at origination. New appraisals are obtained periodically and following discovery of factors that may significantly affect the value of the collateral. Appraisals typically are received within 30 days of request. Results of appraisals on nonperforming and potential problem loans are reviewed promptly upon receipt and considered in the determination of the allowance for loan losses. We are not aware of any significant time lapses in the process that have resulted, or would result in, a significant delay in determination of a credit weakness, the identification of a loan as nonperforming, or the measurement of an impairment. The following tables show the balance in the allowance for loan losses and the recorded investment in loans for the dates indicated by portfolio classification disaggregated on the basis of impairment evaluation method. Commercial 1-4 Family Real Estate (Dollars in thousands) Real Estate Residential Construction Commercial Other Total At June 30, 2016 Balance at beginning of fiscal year $ 12,716 $ 700 $ 2,533 $ 9,965 $ 192 $ 26,106 Loans charged-off (3) (83) - (3,801) (376) (4,263) Recoveries 234 54 - 311 49 648 Provision for loan losses (2,234) 362 647 5,194 416 4,385 Balance at end of period $ 10,713 $ 1,033 $ 3,180 $ 11,669 $ 281 $ 26,876 Allowance for loan losses ending balance: Individually evaluated for impairment $ 281 $ 116 $ - $ 2,915 $ - $ 3,312 Collectively evaluated for impairment 9,961 917 3,140 8,754 281 23,053 Acquired with deteriorated credit quality 471 - 40 - - 511 Total ending allowance balance $ 10,713 $ 1,033 $ 3,180 $ 11,669 $ 281 $ 26,876 Loans receivable ending balance: Individually evaluated for impairment $ 13,192 $ 2,187 $ 754 $ 13,880 $ 38 $ 30,051 Collectively evaluated for impairment 844,739 180,213 194,646 544,221 20,702 1,784,521 Acquired with deteriorated credit quality 4,356 1,293 752 371 33 6,805 Total ending loans balance $ 862,287 $ 183,693 $ 196,152 $ 558,472 $ 20,773 $ 1,821,377 Commercial 1-4 Family Real Estate (Dollars in thousands) Real Estate Residential Construction Commercial Other Total At June 30, 2015 Balance at beginning of fiscal year $ 13,678 $ 712 $ 4,159 $ 9,614 $ 289 $ 28,452 Loans charged-off (116) (20) (21) (343) (56) (556) Recoveries 151 443 31 583 138 1,346 Provision for loan losses (448) (557) (509) (1,313) (196) (3,023) Balance at end of period $ 13,265 $ 578 $ 3,660 $ 8,541 $ 175 $ 26,219 Allowance for loan losses ending balances: Individually evaluated for impairment $ 1,875 $ - $ - $ 1,660 $ - $ 3,535 Collectively evaluated for impairment 11,390 578 3,660 6,881 175 22,684 Acquired with deteriorated credit quality - - - - - - Total ending allowance balance $ 13,265 $ 578 $ 3,660 $ 8,541 $ 175 $ 26,219 Loans receivable ending balance: Individually evaluated for impairment $ 20,886 $ 404 $ 416 $ 5,885 $ - $ 27,591 Collectively evaluated for impairment 735,587 83,438 198,738 378,881 20,651 1,417,295 Acquired with deteriorated credit quality 2,933 1,496 93 22 - 4,544 Total ending loans balance $ 759,406 $ 85,338 $ 199,247 $ 384,788 $ 20,651 $ 1,449,430 |
Fair Value Measurements
Fair Value Measurements | 6 Months Ended |
Jun. 30, 2016 | |
Fair Value Measurements [Abstract] | |
Fair Value Measurements | NOTE 4: FAIR VALUE MEASUREMENTS Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. In estimating fair value, we utilize valuation techniques that are consistent with the market approach, the income approach, and/or the cost approach. Such valuation techniques are consistently applied. Inputs to valuation techniques include the assumptions that market participants would use in pricing an asset or liability. ASC 820, Fair Value Measurements and Disclosure , establishes a fair value hierarchy for valuation inputs that gives the highest priority to quoted prices in active markets for identical assets or liabilities and the lowest priority to unobservable inputs. The fair value hierarchy is as follows : Level 1 Quoted prices in active markets for identical instruments . Level 2 Observable inputs other than Level 1 prices, such as quoted prices for similar assets or liabilities; quoted prices 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 Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. The estimated fair value amounts have been determined by us using available market information and appropriate valuation methodologies. However, considerable judgment is required to interpret market data to develop the estimates of fair value. Accordingly, the estimates presented herein are not necessarily indicative of the amount we could realize in a current market exchange. The use of different market assumptions and/or estimation methodologies could have a material effect on our estimated fair value amounts. There were no significant changes in valuation methods used to estimate fair value during the six months ended June 30, 2016. A description of the valuation methodologies used for instruments measured at fair value on a recurring basis is as follows: Available for sale securities – The fair value of U.S. Government and federal agency securities, equity securities, and residential mortgage-backed securities is estimated based on quoted market prices or dealer quotes. The fair value of other investments such as obligations of state and political subdivisions is estimated based on quoted market prices. We obtain 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 bond’s terms and conditions, among other things. We review the prices supplied by our independent pricing service, as well as their underlying pricing methodologies, for reasonableness and to ensure such prices are aligned with traditional pricing matrices. Derivative instruments – We utilize an interest rate swap agreement to convert one of our variable-rate subordinated debentures to a fixed rate. This has been designated as a cash flow hedge. We also offer an interest rate swap program that permits qualified customers to manage interest rate risk on variable rate loans with Bank SNB. Derivative contracts are executed between our customers and Bank SNB. Offsetting contracts are executed by Bank SNB and approved counterparties. The counterparty contracts are identical to customer contracts, except for a fixed pricing spread or fee paid to us and collateral requirements. The fair value of the interest rate swap agreements are obtained from dealer quotes. The following table summarizes financial assets and liabilities measured at fair value on a recurring basis as of June 30, 2016 and December 31, 2015: Fair Value Measurement at Reporting Date Using Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs (Dollars in thousands) Total (Level 1) (Level 2) (Level 3) At June 30, 2016 Available for sale securities: Federal agency securities $ 68,287 $ - $ 68,287 $ - Obligations of state and political subdivisions 48,317 - 48,317 - Residential mortgage-backed securities 259,007 - 259,007 - Asset-backed securities 9,417 - 9,417 - Corporate debt 25,107 137 24,970 - Derivative asset 5,163 - 5,163 - Derivative liability (6,322) - (6,322) - Total $ 408,976 $ 137 $ 408,839 $ - At December 31, 2015 Available for sale securities: Federal agency securities $ 78,211 - 78,211 - Obligations of state and political subdivisions 47,564 - 47,564 - Residential mortgage-backed securities 239,888 - 239,888 - Asset-backed securities 9,415 - 9,415 - Corporate debt 25,253 137 25,116 - Derivative asset 1,793 - 1,793 - Derivative liability (3,163) - (3,163) - Total $ 398,961 $ 137 $ 398,824 $ - Certain financial assets 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). These assets are recorded at the lower of cost or fair value. Valuation methodologies for assets measured on a nonrecurring basis are as follows: Impaired loans – Certain impaired loans are reported at the fair value of the underlying collateral if repayment is expected solely from collateral. Collateral values are estimated using inputs based on third-party appraisals. Certain other impaired loans are analyzed and reported through a specific valuation allowance based upon the net present value of cash flows. Loans held for sale – Real estate mortgage loans held for sale are carried at the lower of cost or market, which is determined on an individual loan basis. The fair value of loans held for sale is based on existing investor commitments. Other real estate – Other real estate fair value is based on third-party appraisals for significant properties less the estimated costs to sell the asset. Mortgage loan servicing rights – There is no active trading market for loan servicing rights. The fair value of loan servicing rights is estimated by calculating the present value of net servicing revenue over the anticipated life of each loan. A cash flow model is used to determine fair value. Key assumptions and estimates, including projected prepayment speeds and assumed servicing costs, earnings on escrow deposits, ancillary income, and discount rates, used by this model are based on current market sources. A separate third party model is used to estimate prepayment speeds based on interest rates, housing turnover rates, estimated loan curtailment, anticipated defaults, and other relevant factors. The prepayment model is updated for cha nges in market conditio ns. Core deposit premiums – T he fair value of core deposit premiums are based on third-party appraisals. There has been no impairment during 2016 or 2015; therefore, no fair value adjustment was recorded through earnings. Goodwill – Fair value of goodwill is based on the fair value of each of our reporting units to which goodwill is allocated compared with th eir respective carrying value. There has been no impairment during 2016 or 2015; therefore, no fair value adjustment was recorded through earnings. Assets that were measured at fair value on a nonrecurring basis as of June 30, 2016 and December 31, 2015 are summarized below. Fair Value Measurements Using Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs (Dollars in thousands) Total (Level 1) (Level 2) (Level 3) At June 30, 2016 Impaired loans at fair value : Commercial real estate $ 14,403 $ - $ - $ 14,403 One-to-four family residential 1,821 - - 1,821 Real estate construction 207 - - 207 Commercial 5,796 - - 5,796 Loans held for sale: One-to-four family residential 7,010 - 7,010 - Mortgage loan servicing rights 3,350 - 3,350 - Total $ 32,587 $ - $ 10,360 $ 22,227 At December 31, 2015 Impaired loans at fair value : Commercial real estate $ 11,182 $ - $ - $ 11,182 One-to-four family residential 185 - - 185 Real estate construction 390 - - 390 Commercial 9,845 - - 9,845 Loans held for sale: One-to-four family residential 7,453 - 7,453 - Other real estate 2,274 - - 2,274 Mortgage loan servicing rights 3,721 - 3,721 - Total $ 35,050 $ - $ 11,174 $ 23,876 As of June 30, 2016, i mpaired loans measured at fair value with a carryi ng amount of $ 26.9 million were written down to a fair value of $ 22.2 million, resulting in a life-to-date impairment of $ 4.7 m illion . As of December 31, 2015 , impaired loans measured at fair value with a carrying amount of $ 25.9 million were written down to a fair value of $ 21.6 million at December 31, 2015 , resulting in a life-to-date impairment charge of $ 4.3 million . As of December 31, 2015, other real estate assets were written down to their fair values, resulting in an impairment charge of $ 0.1 million, which was included in noninterest expense . No impairment was recognized during the period ended June 30, 2016. As of June 30, 2016 and December 31, 2015, mortgage servicing rights were written down to their fair values, resulting in an impairment charge of $0.5 million and $0.1 million , respectively, which was included in noninterest income. No impairment of core deposit premiums or goodwill was recognized during the periods ending June 30, 2016 or December 31, 2015. ASC 825, Financial Instruments , requires an entity to provide disclosures about fair value of financial instruments, including those that are not measured and reported at fair value on a recurring or nonrecurring basis. The methodologies used in estimating the fair value of financial instruments that are measured on a recurring or nonrecurring basis are discussed above. The methodologies for the other financial instruments are discussed below: Cash and cash equivalents – For cash and cash equivalents, the carrying amount is a reasonable estimate of fair value. Securities held to maturity – The investment securities held to maturity are carried at cost. The fair value of the held to maturity securities is estimated based on quoted market prices or dealer quotes. Loans, net of allowance – Fair values are estimated for certain homogenous categories of loans adjusted for differences in loan characteristics. Our loans have been aggregated by categories consisting of commercial, real estate, and other consumer. The fair value of loans is estimated by discounting the cash flows using risks inherent in the loan category and interest rates currently offered for loans with similar terms and credit risks. Accrued interest receivable – The carrying amount is a reasonable estimate of fair value for accrued interest receivable. Investments included in other assets – The estimated fair value of investments included in other assets, which primarily consists of investments carried at cost, approximates their carrying values. Deposits – The fair value of demand deposits, savings accounts, and certain money market deposits is the amount payable on demand at the statement of financial condition date. The fair value of fixed maturity certificates of deposit is estimated using the rates currently offered for deposits of similar remaining maturities. A ccrued interest payable and other liabilities – The estimated fair value of accrued interest payable and other liabilities, which primarily includes trade accounts payable, approximates their carrying values. Other borrowings – Included in other borrowings are FHLB advances and securities sold under agreements to repurchase. The fair value for fixed rate FHLB advances is based upon discounted cash flow analysis using interest rates currently being offered for similar instruments. The fair values of other borrowings are the amounts payable at the statement of financial condition date, as the carrying amount is a reasonable estimate of fair value due to the short-term maturity rates. Subordinated debentures – Our two subordinated debentures have floating rates that reset quarterly. The fair value of the floating rate subordinated debentures approximates carrying value at June 30, 2016. Loan commitments and letters of credit – The fair values of commitments are estimated using the fees currently charged to enter into similar agreements, taking into account the terms of the agreements. The fair values of letters of credit are based on fees currently charged for similar agreements. The carrying values and estimated fair values of our financial instruments segregated by the level of the valuation inputs within the fair value hierarchy utilized to measure fair value were as follow s : At June 30, 2016 At December 31, 2015 Carrying Fair Carrying Fair (Dollars in thousands) Values Values Values Values Financial assets: Level 2 inputs: Cash and cash equivalents $ 68,088 $ 68,088 $ 78,129 $ 78,129 Securities held to maturity 12,161 12,660 11,797 12,282 Accrued interest receivable 5,730 5,730 5,767 5,767 Investments included in other assets 14,398 14,398 10,383 10,383 Level 3 inputs: Total loans, net of allowance 1,794,501 1,780,222 1,753,323 1,728,114 Financial liabilities: Level 2 inputs: Deposits 1,902,865 1,839,860 1,884,105 1,780,954 Accrued interest payable 931 931 867 867 Other liabilities 9,823 9,823 10,314 10,314 Other borrowings 153,568 154,476 110,927 112,149 Subordinated debentures 46,393 46,393 51,548 51,548 Loan commitments 466,205 446,412 Letters of credit 7,112 6,563 |
Derivative Instruments
Derivative Instruments | 6 Months Ended |
Jun. 30, 2016 | |
Derivative Instruments [Abstract] | |
Derivative Instruments | NOTE 5: DERIVATIVE INSTRUMENTS We utilize derivatives instruments to manage exposure to various types of interest rate risk for us and our customers within our policy guidelines. All derivative instruments are carried at fair value and credit risk is considered in determining fair value. Derivative contracts involve the risk of dealing with institutional derivative counterparties and their ability to meet contractual terms. Institutional counterparties must have an investment grade credit rating and be approved by our asset/ liability management committee. Our credit exposure on interest rate swaps is limited to the net favorable value and interest payments of all swaps with each counterparty. Access to collateral in the event of default is reasonably assured. Therefore, c redit exposure may be reduced by the amount of collateral pledged by the counterparty. Customer Risk Management Interest Rate Swaps Our qualified customers have the opportunity to participate in our interest rate swap program for the purpose of managing interest rate risk on their variable rate loans with us. If we enter into such agreements with customers, then offsetting agreements are executed between us and approved dealer counterparties to minimize our market risk from changes in interest rates. The counterparty contracts are identical to customer contracts, except for a fixed pricing spread or fee paid to us by the dealer counterparty and the collateral requirements. These interest rate swaps carry varying degrees of credit, interest rate and market or liquidity risks. The fair value of derivative instruments is recognized as either assets or liabilities in the consolidated statements of financial condition. We have entered into nine customer interest rate swap agreements that effectively convert the loan interest rate from floating rate based on LIBOR or prime rate to a fixed rate for the customer. As of June 30, 2016, these loans had an outstanding balance o f $98.3 million. We have entered into offsetting agreement s with dealer counterparties . The following table summarizes the fair values of derivative contracts recorded as “non-hedge derivative assets” and “non-hedge derivative liabilities” in the consolidated statements of financial condition: As of June 30, 2016 At December 31, 2015 (Dollars in thousands) Notional Fair Value Notional Fair Value Non-hedge derivative assets $ 98,318 $ 5,163 $ 101,629 $ 1,793 Non-hedge derivative liabilities 98,318 5,163 101,629 1,793 The margin rates to us in connection with these instru ments are a contractual percentage over th e one-month LIBOR or a minimal percentage under the prime rate. We had posted $ 7.4 million of collateral to dealer coun terparties as of June 30, 2016. We posted securities to cover the collateral required. These interest rate swaps are not designated as hedging instruments. Interest Rate Swap We have an interest rate swap agreement with a total notional amount of $ 25.0 million. The interest rate swap contract was designated as a hedging instrument in cash flow hedges with the objective of protecting the overall cash flow from our quarterly interest payments on the SBI Capital Trust II preferred securities throughout the seven -year period beginning February 11, 2011 and ending April 7, 2018 from the risk of variability of those payments resulting from changes in the three-month London Interbank Offered Rate (“LIBOR”). Under the swap, we pay a fixed interest rate of 6.15 % and receive a variable interest rate of three-month LIBOR plus a margin of 2.85 % on a total notional amount of $ 25.0 million, with quarterly settlements. The rate received by us as of June 30, 2016 was 3.48 %. The estimated fair value of the interest rate swap contract outstanding as of June 30, 2016 and December 31, 2015 resulted in a pre-tax loss of $ 1.2 million and $ 1.4 million, respectively, and was included in other liabilities in the consolidated statements of financial condition. We obtained the counterparty valuation to validate the interest rate derivative contract as of June 30, 2016 and December 31, 2015 . The effective portion of our gain or loss due to changes in the fair value of the interest rate swap contract, a $ 0.1 mill ion loss and a $0.1 million gain for the six months ended June 30, 2016 and June 30, 2015 , respectively, is included in other comprehensive income, net of tax, while the ineffective portion (indicated by the excess of the cumulative change in the fair value of the derivative over that which is necessary to offset the cumulative change in expected future cash flows on the hedge transaction) is included in other noninterest income or other noninterest expense. No ineffectiveness related to the interest rate derivative was recognized during either reporting period. Net cash outflows as a result of the interest rate swap contract were $ 0.3 million and $0.4 million for the six months ended June 30, 2016 and June 30, 2015, respectively, and were included in interest expense on subordinated debentures. The fair value of cash and securities posted as collateral by us related to the interest rate swap contract was $ 2.1 million at June 30, 2016 and December 31, 2015 . There are no credit-risk-related contingent features associated with our derivative contract. |
Taxes On Income
Taxes On Income | 6 Months Ended |
Jun. 30, 2016 | |
Taxes On Income [Abstract] | |
Taxes On Income | NOTE 6 : TAXES ON INCOME Net deferred tax as sets totaled $ 12.0 million at June 30, 2016 and $ 14.0 million at December 31, 2015 . Net deferred tax assets are included in other assets and no valuation allowance is considered necessary. We or one of our subsidiaries file income tax returns in the U.S. federal jurisdiction and various state jurisdictions. We are no longer subject to U.S. federal or state tax examinations for years before 2012. On January 13, 2016, we were notified by the Internal Revenue Service that we are under examination for the 2014 income tax filing and on June 6, 2016, we received final notice that the examinations was completed with no adjustments proposed. |
Shareholders' Equity
Shareholders' Equity | 6 Months Ended |
Jun. 30, 2016 | |
Shareholders' Equity [Abstract] | |
Shareholders' Equity | NOTE 7 : SHAREHOLDERS’ EQUITY Sto ck Repurchase Program On May 25 , 2016 , our B oard of D irectors approved our fourth stock repurchase program within the last two years. The program authorizes the repurchase of up to another 5.0% , or approximately 921,000 shares of our outstanding common stock and will bec o me effective as of the earlier of: (a) the date we complete our repurchase of all the shares of our common stock that we are authorized to purchase under our current stock repurchase program that became effective as of February 23, 2016 ; or (b) February 23, 2017 , which is the original expiration date of the current program. During the first six months of 2016, we repurchased 1,336,387 shares for a total of $21.0 million, and since August 2014, we have repurchased 2,457,945 shares for a total of $39.8 million. |
Earnings Per Common Share
Earnings Per Common Share | 6 Months Ended |
Jun. 30, 2016 | |
Earnings Per Share [Abstract] | |
Earnings Per Share | NOTE 8 : EARNINGS PER SHARE Earnings per common share is computed using the two-class method prescribed by ASC 260, Earnings Per Share . Using the two-class method, basic earnings per common share is computed based upon net income divided by the weighted average number of common shares outstanding during each period, which excludes outstand ing unvested restricted stock. Diluted earnings per share is computed using the weighted average number of common shares determined for the basic earnings per common share computation plus the dilutive effect of stock compensation using the treasury stock method. The following table shows the computation of basic and diluted earnings per common share: For the three months For the six months ended June 30, ended June 30, (Dollars in thousands, except earnings per share data) 2016 2015 2016 2015 Numerator: Net income $ 5,412 $ 4,161 $ 7,281 $ 8,696 Earnings allocated to participating securities (110) (73) (131) (143) Numerator for earnings per common share $ 5,302 $ 4,088 $ 7,150 $ 8,553 Denominator: Denominator for basic earnings per common share 18,574,300 18,666,853 18,916,686 18,714,088 Dilutive effect of stock compensation 102,261 197,124 18,918 172,332 Denominator for diluted earnings per common share 18,676,561 18,863,977 18,935,604 18,886,420 Earnings per common share: Basic $ 0.29 $ 0.22 $ 0.38 $ 0.46 Diluted $ 0.28 $ 0.22 $ 0.38 $ 0.46 |
Operating Segments
Operating Segments | 6 Months Ended |
Jun. 30, 2016 | |
Operating Segments [Abstract] | |
Operating Segments | NOTE 9: OPERATING SEGMENTS We operate four principal segments: Oklahoma Banking, Texas Banking, Kansas Banking, and Other Operations. The Oklahoma Banking segment provides deposit and lending services and consists of residential mortgage lending services to customers. Due to the relatively smaller size and the management structure, our Colorado banking operations are included within the Oklahoma Banking segment. The Texas Banking segment and the Kansas Banking segment provide deposit and lending services. Other Operations includes our funds management unit and corporate investments. The primary purpose of the funds management unit is to manage our overall internal liquidity needs and interest rate risk. Each segment borrows funds from or provides funds to the funds management unit as needed to support its operations. The value of funds provided to and the cost of funds borrowed from the funds management unit by each segment are internally priced at rates that approximate market rates for funds with similar duration. The yield used in the funds transfer pricing curve is a blend of rates based on the volume usage of retail and brokered certificates of deposit and FHLB advances. The accounting policies of each reportable segment are the same as ours. Expenses for consolidated back-office operations are allocated to operating segments based on estimated uses of those services. General overhead expenses such as executive administration, accounting, and audit are allocated based on the direct expense and/or deposit and loan volumes of the operating segment. Income tax expense for the operating segments is calculated at statutory rates. The Other Operations segment records the tax expense or benefit necessary to reconcile to the consolidated financial statements. The following table summarizes financial results by operating segment: For the three months ended June 30, 2016 Oklahoma Texas Kansas Other Total (Dollars in thousands) Banking Banking Banking Operations Company Net interest income (loss) $ 12,339 $ 5,640 $ 1,638 $ 78 $ 19,695 Provision (credit) for loan losses (210) 330 (113) 3 10 Noninterest income 2,657 290 300 624 3,871 Noninterest expenses 9,879 3,256 1,347 786 15,268 Income (loss) before taxes 5,327 2,344 704 (87) 8,288 Taxes on income (loss) 1,837 816 250 (27) 2,876 Net income (loss) $ 3,490 $ 1,528 $ 454 $ (60) $ 5,412 For the six months ended June 30, 2016 Oklahoma Texas Kansas Other Total (Dollars in thousands) Banking Banking Banking Operations* Company Net interest income (loss) $ 25,277 $ 11,206 $ 3,466 $ (414) $ 39,535 Provision for loan losses 50 2,245 2,086 4 4,385 Noninterest income 4,852 592 618 1,224 7,286 Noninterest expenses 19,839 6,987 2,764 1,674 31,264 Income (loss) before taxes 10,240 2,566 (766) (868) 11,172 Taxes on income (loss) 3,566 894 (267) (302) 3,891 Net income (loss) $ 6,674 $ 1,672 $ (499) $ (566) $ 7,281 * Includes externally generated revenue of $1.9 million, primarily from investing services, and an internally generated loss of $1.0 million from the funds management unit. Total loans at period end $ 1,085,986 $ 577,333 $ 158,058 $ - $ 1,821,377 Total assets at period end 1,130,161 573,199 157,054 541,848 2,402,262 Total deposits at period end 1,322,430 190,475 135,585 254,375 1,902,865 For the three months ended June 30, 2015 Oklahoma Texas Kansas Other Total (Dollars in thousands) Banking Banking Banking Operations Company Net interest income (loss) $ 9,299 $ 4,793 $ 1,731 $ (32) $ 15,791 Provision (credit) for loan losses (689) (283) (165) 1 (1,136) Noninterest income 2,386 278 329 416 3,409 Noninterest expenses 7,698 3,793 1,606 885 13,982 Income before taxes 4,676 1,561 619 (502) 6,354 Taxes on income 1,609 531 216 (163) 2,193 Net income $ 3,067 $ 1,030 $ 403 $ (339) $ 4,161 For the six months ended June 30, 2015 Oklahoma Texas Kansas Other Total (Dollars in thousands) Banking Banking Banking Operations* Company Net interest income (loss) $ 19,034 $ 10,013 $ 3,194 $ (840) $ 31,401 Provision (credit) for loan losses (1,922) (533) (568) - (3,023) Noninterest income 4,425 587 631 606 6,249 Noninterest expenses 15,043 7,228 3,215 1,578 27,064 Income (loss) before taxes 10,338 3,905 1,178 (1,812) 13,609 Taxes on income (loss) 3,732 1,410 425 (654) 4,913 Net income (loss) $ 6,606 $ 2,495 $ 753 $ (1,158) $ 8,696 * Includes externally generated revenue of $0.7 million, primarily from investing services, and an internally generated loss of $1.0 million from the funds management unit. Total loans at period end $ 810,368 $ 493,047 $ 146,015 $ - $ 1,449,430 Total assets at period end 824,073 491,442 147,302 568,764 2,031,581 Total deposits at period end 1,134,020 226,498 126,671 137,257 1,624,446 |
Commitments and Contingencies
Commitments and Contingencies | 6 Months Ended |
Jun. 30, 2016 | |
Commitments and Contingencies [Abstract] | |
Commitments and contingencies | NOTE 10 : COMMITMENTS AND CONTINGENCIES Customer Ris k Management Interest Rate Swap On September 9, 2014, we entered into an agreement to provide one of our commercial borrowers a customer interest rate swap that effectively converts the loan interest rate from a floating rate based on LIBOR to a fixed rate for the customer. As of June 30, 2016 , the floating rate loan had an outstanding balance of $ 15. 3 million . The option to execute the swap is conditional on the borrower’s compliance with the loan and swap agreements, and will be subject to the terms of the International Swaps and Derivatives Association Master Agreement. The fixed pay amount will be based on the market rates at the time of execution, and it is our intention to simultaneously execute an offsetting trade with an approved swap dealer counterparty with identical terms. Legal Action On March 18, 2011 , an action entitled Ubaldi, et al. v SLM Corporation (“Sallie Mae”), et al., Case No. 3:11-cv-01320 EDL (the “Ubaldi Case”) was filed in the U.S. District Court for the Northern District of California as a putative class action with respect to certain loans that the plaintiffs claim were made by Sallie Mae. The loans in question were made by various banks, including Bank SNB, and sold to Sallie Mae. Plaintiff s claim that Sallie Mae entered into arrangements with chartered banks in order to evade California law and that Sallie Mae is the de facto lender on the loans in question and, as the lender on such loan, Sallie Mae charged interest and late fees that violates California usury law and the California Business and Professions Code. Sallie Mae has denied all claims asserted against it and has stated that it intends to vigorously defend the action. On March 26, 2014, the Court denied the plaintiffs’ request to certify the class; however, the Court permitted the plaintiff s to amend the filing to redefine the class. Plaintiffs filed a renewed motion on June 23, 2014. On December 19, 2014, the Court issued a decision on the renewed motion, certifying a class with respect to claims of improper late fees, but denying class certification with respec t to plaintiffs’ usury claims. Plaintiffs thereafter filed a motion seeking leave to amend their complaint to add addition al parties, which Sallie Mae opposed , and, on March 24, 2015, the Court denied the plaintiffs’ motion . On June 5, 2015, the law firm Cohen Milstein Sellers & Toll based in Washington, D.C. entered its appearance as co-counsel on behalf of plaintiffs. Bank SNB is not specifically named in the action. However, in the first quarter of 2014, Sallie Mae provided Bank SNB with a notice of claims that have been asserted against Sallie Mae in the Ubaldi Case (the “Notice”). Sallie Mae asserts in the Notice that Bank SNB may have indemnification and/or repurchase obligations pursuant to the ExportSS Agreement dated July 1, 2002 between Sallie Mae and Bank SNB, pursuant to which the loans in question were made by Bank SNB. Bank SNB has substantial defenses with respect to any claim for indemnification or repurchase ultimately made by Sallie Mae, if any, and intends to vigorously defend against any such claims. Due to the uncertainty regarding (i) the size and scope of the class, (ii) whether a class will ultimately be certified, (iii) the particular class members, (iv) the interest rate on loans made by Bank SNB charged to particular class members, (v) the late fees charged to particular class members, (vi) the time period that will ultimately be at issue if a class is certified in the Ubaldi Case, (vii) the theories, if any, under which the plaintiffs might prevail, (viii) whether Sallie Mae will make a claim against us for indemnification or repurchase, and (ix) the likelihood that Sallie Mae would prevail if it makes such a claim, we cannot estimate the amount or the range of losses that may arise as a result of the Ubaldi Case. In the normal course of business, we are at all times subject to various pending and threatened legal actions. The relief or damages sought in some of these actions may be substantial. After reviewing pending and threatened actions with counsel, management currently does not expect that the outcome of such actions will have a material adverse effect on our financial position; however, we are not able to predict whether the outcome of such actions may or may not have a material adverse effect on results of operations in a particular future period as the timing and amount of any resolution of such actions and relationship to the future results of operations are not known. |
New Authoritative Accounting Gu
New Authoritative Accounting Guidance | 6 Months Ended |
Jun. 30, 2016 | |
New Authoritative Accounting Guidance [Abstract] | |
New Authoritative Accounting Guidance | NOTE 11: NEW AUTHORITATIVE ACCOUNTING GUIDANCE In January 2016, the FASB issued Accounting Standards Update (“ASU”) 2016-01, Recognition and Measurements of Financial Assets and Financial Liabilities . This ASU requires that all equity investments be measured at fair value with changes in the fair value recognized through net income (other than those accounted for under the equity method of accounting or those that result in consolidation of the investee). This ASU also requires that an entity present separately in other comprehensive income the portion of the total change in the fair value of a liability resulting from a change in the instrument-specific credit risk when the entity has elected to measure the liability at fair value in accordance with the fair value option for financial instruments. In addition, this ASU eliminates the requirement to disclose the fair value of financial instruments measured at amortized cost for entities that are not public business entities and the requirement to disclose the method(s) and significant assumptions used to estimate the fair value that is required to be disclosed for financial instruments measured at amortized cost on the balance sheet for public business entities. The guidance becomes effective for us on January 1, 2018, and we are evaluating the impact of this ASU on our financial statements and disclosures. In February 2016, the FASB issued ASU 2016-02, Leases . This ASU requires lessees to put most leases on their balance sheets but recognize expenses in the income statement in a manner similar to current accounting treatment. This ASU changes the guidance on sale-leaseback transactions, initial direct costs and lease execution costs, and, for lessors, modifies the classification criteria and the accounting for sales-type and direct financing leases. The guidance becomes effective for us on January 1, 2019 . Entities are required to use a modified retrospective approach for leases that exist or are entered into after the beginning of the earliest comparative period in the financial statements. We are evaluating the impact of this ASU on our financial statements and disclosures. In March 2016, the FASB issued AS U 2016-05, Effect of Derivative Contract Novations on Existing Hedge Accounting Relationships . This ASU clarifies that a change in the counterparty of a derivative contract (i.e., a novation) in a hedge accounting relationship does not, in and of itself, require dedesignation of the hedge accounting relationship. This guidance becomes effective for us on January 1, 2017, and it is not expected to have a material impact on the financial statements. In March 2016, the FASB issued ASU 2016-06, Contingent Put and Call Options in Debt Instruments . This ASU clarifies the requirements for assessing whether contingent call (put) options that can accelerate the payment of principal on debt instruments are clearly and closely related to their debt hosts. An entity performing the assessment under this ASU is required to assess the embedded call (put) options solely in accordance with the four-step decision sequence. The amendments apply to all entities that are issuers of or investors in debt instruments (or hybrid financial instruments that are determined to have a debt host) with embedded call (put) options. This guidance becomes effective for us on January 1, 2017, and it is not expected to have a material impact on the financial statements. In March 2016, the FASB issued ASU 2016-07, Simplifying the Transition to the Equity Method of Accounting . This ASU eliminates the requirement for an investor to retrospectively apply the equity method when an investment that it had accounted for by another method qualifies for use of the equity method. This guidance becomes effective for us on January 1, 2017, and it is not expected to have a material impact on the financial statements. In March 2016, the FASB issued ASU 2016-09, Improvements to Employee Share-Based Payment Accounting . This ASU simplifies several aspects of the accounting for employee share-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities, and classification on the statement of cash flows. This guidance becomes effective for us on January 1, 2017, and it is not expected to have a material impact on the financial statements. In April 2016, the FASB issued ASU 2016-10, Revenue from Contracts with Customers (Topic 606), Identifying Performance Obligations and Licensing . While this ASU does not change the core principles of the guidance in Topic 606, it does clarify the guidance related to identifying performance obligations as well as the accounting for licenses of intellectual property. This guidance becomes effective for us on January 1, 2017, and it is not expected to have a material impact on the financial statements. In May 2016, the FASB issued ASU 2016-11, Revenue Recognition (Topic 605) and Derivatives Hedging (Topic 815), Rescission of SEC Guidance Because of Accounting Standards Updates 2014-09 and 2014-16 Pursuant to Staff Announcements at the March 3, 2016 EITF Meeting (SEC Update) . This ASU rescinds from the FASB Accounting Standards Codification certain SEC Observer comments that are codified in FASB ASC Topic 605, Revenue Recognition , and ASC 932, Extractive Activities – Oil and Gas , effective upon an entity’s adoption of FASB ASC 606, Revenue from Contracts with Customers . This ASU also rescinds the SEC Staff Announcement: Determining the Nature of a Host Contract Related to a Hybrid Instrument Issued in the Form of a Share under Topic 815,” which is codified in FASB ASC Topic 815, Derivatives and Hedging , effective on adoption of FASB ASU 2014-16, Determining Whether the Host Contract in a Hybrid Financial Instrument Issued in the Form of a Share is More Akin to Debt or Equity . This guidance becomes effective for us on January 1, 2018, and it is not expected to have a material impact on the financial statements. In May 2016, the FASB issued ASU 2016-12, Revenue from Contracts with Customers (Topic 606), Narrow-Scope Improvements and Practical Expedients . While this ASU does not change the core principles of the new revenue recognition standard, it does make the standard more operational and clarifies the guidance on assessing collectability, presenting sales taxes, measuring noncash consideration, and certain transition matters. This guidance becomes effective for us on January 1, 2018, and it is not expected to have a material impact on the financial statements. In June 2016, the FASB issued ASU 2016-13, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments . This ASU replaces the incurred loss impairment methodology in current GAAP with a methodology that estimates credit losses on most financial instruments measured at amortized cost, such as loans, receivables, and held-to-maturity securities, using the current expected credit loss (CECL) model. Under this model, entities will estimate credit losses over the financial instrument’s entire contractual term from the date of initial recognition of that instrument. The ASU also requires incremental disclosures on how the entity developed its estimates. This guidance becomes effective for us on January 1, 2020. We are evaluating the impact of this ASU on our financial statements and disclosures. |
Investment Securities (Tables)
Investment Securities (Tables) | 6 Months Ended |
Jun. 30, 2016 | |
Investment Securities [Abstract] | |
Summary Of Amortized Cost And Fair Values Of Investment Securities | Amortized Gross Unrealized Fair (Dollars in thousands) Cost Gains Losses Value At June 30, 2016 Held to Maturity: Obligations of state and political subdivisions $ 12,161 $ 500 $ (1) $ 12,660 Total $ 12,161 $ 500 $ (1) $ 12,660 Available for Sale: Federal agency securities $ 67,262 $ 1,187 $ (162) $ 68,287 Obligations of state and political subdivisions 46,787 1,559 (29) 48,317 Residential mortgage-backed securities 257,713 1,795 (501) 259,007 Asset-backed securities 9,656 - (239) 9,417 Corporate debt 25,009 203 (105) 25,107 Total $ 406,427 $ 4,744 $ (1,036) $ 410,135 At December 31, 2015 Held to Maturity: Obligations of state and political subdivisions $ 11,797 $ 488 $ (3) $ 12,282 Total $ 11,797 $ 488 $ (3) $ 12,282 Available for Sale: Federal agency securities $ 78,363 $ 220 $ (373) $ 78,210 Obligations of state and political subdivisions 47,079 620 (134) 47,565 Residential mortgage-backed securities 240,804 936 (1,852) 239,888 Asset-backed securities 9,639 - (224) 9,415 Corporate debt 25,251 148 (146) 25,253 Total $ 401,136 $ 1,924 $ (2,729) $ 400,331 |
Amortized Cost And Approximate Fair Value Of Investment Securities By Maturity Date | Available for Sale Held to Maturity Amortized Fair Amortized Fair (Dollars in thousands) Cost Value Cost Value One year or less $ 13,241 $ 13,326 $ 1,657 $ 1,656 More than one year through five years 279,068 281,813 6,037 6,216 More than five years through ten years 69,186 69,737 4,467 4,788 More than ten years 44,932 45,259 - - Total $ 406,427 $ 410,135 $ 12,161 $ 12,660 |
Summary Of Sales Of Available For Sale Securities | For the three months For the six months ended June 30, ended June 30, (Dollars in thousands) 2016 2015 2016 2015 Proceeds from sales $ 18,726 $ 138 $ 41,530 $ 143 Gross realized gains 173 138 345 143 Gross realized losses (8) - (54) - |
Summary Of Securities With Gross Unrealized Losses And Their Fair Values | Continuous Unrealized Amortized cost of Loss Existing for: Fair value of Number of securities with Less Than More Than securities with (Dollars in thousands) Securities unrealized losses 12 Months 12 Months unrealized losses At June 30, 2016 Held to Maturity: Obligations of state and political subdivisions 3 $ 2,029 $ (0) $ (1) $ 2,028 3 $ 2,029 $ (0) $ (1) $ 2,028 Available for Sale: Federal agency securities 6 $ 15,368 $ (132) $ (30) $ 15,206 Obligations of state and political subdivisions 1 2,157 - (29) 2,128 Residential mortgage-backed securities 42 80,904 (235) (266) 80,403 Asset-backed securities 3 9,656 (86) (153) 9,417 Corporate debt 3 10,004 (22) (83) 9,899 Total 55 $ 118,089 $ (475) $ (561) $ 117,053 At December 31, 2015 Held to Maturity: Obligations of state and political subdivisions 1 $ 1,677 $ - $ (3) $ 1,674 1 $ 1,677 $ - $ (3) $ 1,674 Available for Sale: Federal agency securities 14 $ 42,438 $ (138) $ (235) $ 42,065 Obligations of state and political subdivisions 14 11,765 (57) (77) 11,631 Residential mortgage-backed securities 87 175,043 (1,247) (605) 173,191 Asset-backed securities 3 9,639 (115) (109) 9,415 Corporate debt 6 14,987 (75) (71) 14,841 Total 124 $ 253,872 $ (1,632) $ (1,097) $ 251,143 |
Loans And Allowance For Loan 21
Loans And Allowance For Loan Losses (Tables) | 6 Months Ended |
Jun. 30, 2016 | |
Loans And Allowance For Loan Losses [Abstract] | |
Southwest's Loan Classifications | (Dollars in thousands) At June 30, 2016 At December 31, 2015 Real estate mortgage: Commercial $ 862,287 $ 938,462 One-to-four family residential 183,693 161,958 Real estate construction: Commercial 175,805 129,070 One-to-four family residential 20,347 21,337 Commercial 558,472 507,173 Installment and consumer 20,773 21,429 1,821,377 1,779,429 Less: Allowance for loan losses (26,876) (26,106) Total loans, net 1,794,501 1,753,323 Less: Loans held for sale (included above) (7,010) (7,453) Net loans receivable $ 1,787,491 $ 1,745,870 |
Changes In The Carrying Amounts And Accretable Yields For ASC 310.30 Loans | For the three months ended June 30, 2016 2015 Carrying Carrying Accretable amount Accretable amount (Dollars in thousands) Yield of loans Yield of loans Balance at beginning of period $ 742 $ 7,288 $ 419 $ 4,310 Payments received - (286) - (208) Net charge-offs (11) (196) - - Net reclassifications to / from nonaccretable amount - - 240 - Accretion (48) - (198) 442 Balance at end of period $ 683 $ 6,806 $ 461 $ 4,544 For the six months ended June 30, 2016 2015 Carrying Carrying Accretable amount Accretable amount (Dollars in thousands) Yield of loans Yield of loans Balance at beginning of period $ 807 $ 7,914 $ 540 $ 4,971 Payments received - (790) - (869) Net charge-offs (11) (318) - - Net reclassifications to / from nonaccretable amount - - 240 - Accretion (113) - (319) 442 Balance at end of period $ 683 $ 6,806 $ 461 $ 4,544 |
Recorded Investment In Loans On Nonaccrual Status | (Dollars in thousands) At June 30, 2016 At December 31, 2015 Real estate mortgage: Commercial $ 3,894 $ 3,543 One-to-four family residential 3,106 1,729 Real estate construction: Commercial 1,436 1,010 Commercial 13,752 13,491 Other consumer 71 85 Total nonaccrual loans $ 22,259 $ 19,858 |
Age Analysis Of Past Due Loans | 90 days + Recorded loans 30-89 days past due and Total past Total > 90 days and (Dollars in thousands) past due nonaccrual due Current loans accruing At June 30, 2016 Real estate mortgage: Commercial $ 462 $ 3,894 $ 4,356 $ 857,931 $ 862,287 $ - One-to-four family residential 206 3,120 3,326 180,367 183,693 14 Real estate construction: Commercial 851 811 1,662 174,143 175,805 - One-to-four family residential - 625 625 19,722 20,347 - Commercial 3,847 13,800 17,647 540,825 558,472 48 Other 400 75 475 20,298 20,773 4 Total $ 5,766 $ 22,325 $ 28,091 $ 1,793,286 1,821,377 $ 66 At December 31, 2015 Real estate mortgage: Commercial $ 272 $ 3,992 $ 4,264 $ 934,198 $ 938,462 $ 449 One-to-four family residential 549 1,777 2,326 159,632 161,958 48 Real estate construction: Commercial - 493 493 128,060 128,553 - One-to-four family residential - 517 517 21,337 21,854 - Commercial 278 13,491 13,769 493,404 507,173 - Other 65 88 153 21,276 21,429 3 Total $ 1,164 $ 20,358 $ 21,522 $ 1,757,907 1,779,429 $ 500 |
Impaired Loans | With No Specific Allowance With A Specific Allowance Unpaid Unpaid Recorded Principal Recorded Principal Related (Dollars in thousands) Investment Balance Investment Balance Allowance At June 30, 2016 Commercial real estate $ 1,838 $ 2,171 $ 13,992 $ 17,100 $ 752 One-to-four family residential 1,298 1,614 1,822 1,850 116 Real estate construction 1,229 1,456 207 245 40 Commercial 8,761 31,986 5,527 5,725 2,915 Other 71 83 - - - Total $ 13,197 $ 37,310 $ 21,548 $ 24,920 $ 3,823 At December 31, 2015 Commercial real estate $ 12,166 $ 15,747 $ 10,940 $ 10,940 $ 1,575 One-to-four family residential 1,688 2,195 185 186 11 Real estate construction 1,078 1,327 - - - Commercial 4,095 5,430 9,844 15,968 2,526 Other 85 94 - - - Total $ 19,112 $ 24,793 $ 20,969 27,094 $ 4,112 |
Average Recorded Investment And Interest Income Recognized On Impaired Loans | As of and for the six months ended June 30, 2016 2015 Average Average Recorded Interest Recorded Interest (Dollars in thousands) Investment Income Investment Income Commercial real estate $ 17,365 $ 871 $ 23,862 $ 473 One-to-four family residential 3,627 12 1,777 1 Real estate construction 1,408 - 376 - Commercial 13,274 32 6,080 20 Other 77 - 1 - Total $ 35,751 $ 915 $ 32,096 $ 494 |
Troubled Debt Restructured Loans Outstanding | At June 30, 2016 At December 31, 2015 (Dollars in thousands) Accruing Nonaccrual Accruing Nonaccrual Commercial real estate $ 11,936 $ 358 $ 19,563 $ 448 One-to-four family residential 14 47 13 48 Commercial 536 5,510 659 5,796 Total $ 12,486 $ 5,915 $ 20,235 $ 6,292 |
Loans Modified As Troubled Debt Restructurings | For the six months ended June 30, 2016 2015 Number of Recorded Number of Recorded (Dollars in thousands) Modifications Investment Modifications Investment Commercial 1 $ 26 - $ - Total 1 $ 26 - $ - |
Classification Of Risk Category Of Loans, By Classes | Commercial 1-4 Family Real Estate (Dollars in thousands) Real Estate Residential Construction Commercial Other Total At June 30, 2016 Grade: Pass $ 818,634 $ 177,948 $ 194,507 $ 496,890 $ 20,533 $ 1,708,512 Special Mention 6,286 1,286 209 18,246 167 26,194 Substandard 37,367 4,459 1,436 43,066 73 86,401 Doubtful - - - 270 - 270 Total $ 862,287 $ 183,693 $ 196,152 $ 558,472 $ 20,773 $ 1,821,377 At December 31, 2015 Grade: Pass $ 902,034 $ 157,912 $ 148,811 $ 480,928 $ 21,284 $ 1,710,969 Special Mention 5,916 29 586 2,941 50 9,522 Substandard 30,512 4,017 1,010 18,848 95 54,482 Doubtful - - - 4,456 - 4,456 Total $ 938,462 $ 161,958 $ 150,407 $ 507,173 $ 21,429 $ 1,779,429 |
By Balance In The Allowance For Loan Losses And The Recorded Investment In Loans Portfolio Classification Disaggregated On The Basis Of Impairment Evaluation Method | Commercial 1-4 Family Real Estate (Dollars in thousands) Real Estate Residential Construction Commercial Other Total At June 30, 2016 Balance at beginning of fiscal year $ 12,716 $ 700 $ 2,533 $ 9,965 $ 192 $ 26,106 Loans charged-off (3) (83) - (3,801) (376) (4,263) Recoveries 234 54 - 311 49 648 Provision for loan losses (2,234) 362 647 5,194 416 4,385 Balance at end of period $ 10,713 $ 1,033 $ 3,180 $ 11,669 $ 281 $ 26,876 Allowance for loan losses ending balance: Individually evaluated for impairment $ 281 $ 116 $ - $ 2,915 $ - $ 3,312 Collectively evaluated for impairment 9,961 917 3,140 8,754 281 23,053 Acquired with deteriorated credit quality 471 - 40 - - 511 Total ending allowance balance $ 10,713 $ 1,033 $ 3,180 $ 11,669 $ 281 $ 26,876 Loans receivable ending balance: Individually evaluated for impairment $ 13,192 $ 2,187 $ 754 $ 13,880 $ 38 $ 30,051 Collectively evaluated for impairment 844,739 180,213 194,646 544,221 20,702 1,784,521 Acquired with deteriorated credit quality 4,356 1,293 752 371 33 6,805 Total ending loans balance $ 862,287 $ 183,693 $ 196,152 $ 558,472 $ 20,773 $ 1,821,377 Commercial 1-4 Family Real Estate (Dollars in thousands) Real Estate Residential Construction Commercial Other Total At June 30, 2015 Balance at beginning of fiscal year $ 13,678 $ 712 $ 4,159 $ 9,614 $ 289 $ 28,452 Loans charged-off (116) (20) (21) (343) (56) (556) Recoveries 151 443 31 583 138 1,346 Provision for loan losses (448) (557) (509) (1,313) (196) (3,023) Balance at end of period $ 13,265 $ 578 $ 3,660 $ 8,541 $ 175 $ 26,219 Allowance for loan losses ending balances: Individually evaluated for impairment $ 1,875 $ - $ - $ 1,660 $ - $ 3,535 Collectively evaluated for impairment 11,390 578 3,660 6,881 175 22,684 Acquired with deteriorated credit quality - - - - - - Total ending allowance balance $ 13,265 $ 578 $ 3,660 $ 8,541 $ 175 $ 26,219 Loans receivable ending balance: Individually evaluated for impairment $ 20,886 $ 404 $ 416 $ 5,885 $ - $ 27,591 Collectively evaluated for impairment 735,587 83,438 198,738 378,881 20,651 1,417,295 Acquired with deteriorated credit quality 2,933 1,496 93 22 - 4,544 Total ending loans balance $ 759,406 $ 85,338 $ 199,247 $ 384,788 $ 20,651 $ 1,449,430 |
Fair Value Measurements (Tables
Fair Value Measurements (Tables) | 6 Months Ended |
Jun. 30, 2016 | |
Fair Value Measurements [Abstract] | |
Summary Of Financial Assets Measured At Fair Value On A Recurring Basis | Fair Value Measurement at Reporting Date Using Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs (Dollars in thousands) Total (Level 1) (Level 2) (Level 3) At June 30, 2016 Available for sale securities: Federal agency securities $ 68,287 $ - $ 68,287 $ - Obligations of state and political subdivisions 48,317 - 48,317 - Residential mortgage-backed securities 259,007 - 259,007 - Asset-backed securities 9,417 - 9,417 - Corporate debt 25,107 137 24,970 - Derivative asset 5,163 - 5,163 - Derivative liability (6,322) - (6,322) - Total $ 408,976 $ 137 $ 408,839 $ - At December 31, 2015 Available for sale securities: Federal agency securities $ 78,211 - 78,211 - Obligations of state and political subdivisions 47,564 - 47,564 - Residential mortgage-backed securities 239,888 - 239,888 - Asset-backed securities 9,415 - 9,415 - Corporate debt 25,253 137 25,116 - Derivative asset 1,793 - 1,793 - Derivative liability (3,163) - (3,163) - Total $ 398,961 $ 137 $ 398,824 $ - |
Asset Measured At Fair Value On A Nonrecurring Basis | Fair Value Measurements Using Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs (Dollars in thousands) Total (Level 1) (Level 2) (Level 3) At June 30, 2016 Impaired loans at fair value : Commercial real estate $ 14,403 $ - $ - $ 14,403 One-to-four family residential 1,821 - - 1,821 Real estate construction 207 - - 207 Commercial 5,796 - - 5,796 Loans held for sale: One-to-four family residential 7,010 - 7,010 - Mortgage loan servicing rights 3,350 - 3,350 - Total $ 32,587 $ - $ 10,360 $ 22,227 At December 31, 2015 Impaired loans at fair value : Commercial real estate $ 11,182 $ - $ - $ 11,182 One-to-four family residential 185 - - 185 Real estate construction 390 - - 390 Commercial 9,845 - - 9,845 Loans held for sale: One-to-four family residential 7,453 - 7,453 - Other real estate 2,274 - - 2,274 Mortgage loan servicing rights 3,721 - 3,721 - Total $ 35,050 $ - $ 11,174 $ 23,876 |
Carrying Values And Estimated Fair Values Of Financial Instruments Segregated By The Level Of The Valuation Inputs | At June 30, 2016 At December 31, 2015 Carrying Fair Carrying Fair (Dollars in thousands) Values Values Values Values Financial assets: Level 2 inputs: Cash and cash equivalents $ 68,088 $ 68,088 $ 78,129 $ 78,129 Securities held to maturity 12,161 12,660 11,797 12,282 Accrued interest receivable 5,730 5,730 5,767 5,767 Investments included in other assets 14,398 14,398 10,383 10,383 Level 3 inputs: Total loans, net of allowance 1,794,501 1,780,222 1,753,323 1,728,114 Financial liabilities: Level 2 inputs: Deposits 1,902,865 1,839,860 1,884,105 1,780,954 Accrued interest payable 931 931 867 867 Other liabilities 9,823 9,823 10,314 10,314 Other borrowings 153,568 154,476 110,927 112,149 Subordinated debentures 46,393 46,393 51,548 51,548 Loan commitments 466,205 446,412 Letters of credit 7,112 6,563 |
Derivative Instruments (Tables)
Derivative Instruments (Tables) | 6 Months Ended |
Jun. 30, 2016 | |
Derivative Instruments [Abstract] | |
Non-Hedge Derivative Assets and Liabilities | As of June 30, 2016 At December 31, 2015 (Dollars in thousands) Notional Fair Value Notional Fair Value Non-hedge derivative assets $ 98,318 $ 5,163 $ 101,629 $ 1,793 Non-hedge derivative liabilities 98,318 5,163 101,629 1,793 |
Earnings Per Common Share (Tabl
Earnings Per Common Share (Tables) | 6 Months Ended |
Jun. 30, 2016 | |
Earnings Per Share [Abstract] | |
Computation Of Basic And Diluted Earnings Per Common Share | For the three months For the six months ended June 30, ended June 30, (Dollars in thousands, except earnings per share data) 2016 2015 2016 2015 Numerator: Net income $ 5,412 $ 4,161 $ 7,281 $ 8,696 Earnings allocated to participating securities (110) (73) (131) (143) Numerator for earnings per common share $ 5,302 $ 4,088 $ 7,150 $ 8,553 Denominator: Denominator for basic earnings per common share 18,574,300 18,666,853 18,916,686 18,714,088 Dilutive effect of stock compensation 102,261 197,124 18,918 172,332 Denominator for diluted earnings per common share 18,676,561 18,863,977 18,935,604 18,886,420 Earnings per common share: Basic $ 0.29 $ 0.22 $ 0.38 $ 0.46 Diluted $ 0.28 $ 0.22 $ 0.38 $ 0.46 |
Investment Securities (Narrativ
Investment Securities (Narrative) (Details) - USD ($) $ in Millions | Jun. 30, 2016 | Dec. 31, 2015 |
Investment Securities [Abstract] | ||
Total investments carried at cost | $ 14.4 | $ 10.4 |
Available for sale debt securities amortized cost pledged as collateral | $ 184.9 | $ 174 |
Investment Securities (Summary
Investment Securities (Summary Of Amortized Cost And Fair Values Of Investment Securities) (Details) - USD ($) $ in Thousands | Jun. 30, 2016 | Dec. 31, 2015 |
Held To Maturity Securities And Available For Sale Securities [Line Items] | ||
Amortized Cost, Held to Maturity | $ 12,161 | $ 11,797 |
Held-to-maturity Securities, Accumulated Unrecognized Holding Gain | 500 | 488 |
Gross Unrealized Losses, Held to Maturity | (1) | (3) |
Fair Value, Held to Maturity | 12,660 | 12,282 |
Amortized Cost, Available for Sale | 406,427 | 401,136 |
Gross Unrealized Gains, Available for Sale | 4,744 | 1,924 |
Gross Unrealized Losses, Available for Sale | (1,036) | (2,729) |
Available-for-sale Securities | 410,135 | 400,331 |
Federal Agency Securities [Member] | ||
Held To Maturity Securities And Available For Sale Securities [Line Items] | ||
Amortized Cost, Available for Sale | 67,262 | 78,363 |
Gross Unrealized Gains, Available for Sale | 1,187 | 220 |
Gross Unrealized Losses, Available for Sale | (162) | (373) |
Available-for-sale Securities | 68,287 | 78,210 |
Obligations Of State And Political Subdivisions [Member] | ||
Held To Maturity Securities And Available For Sale Securities [Line Items] | ||
Amortized Cost, Held to Maturity | 12,161 | 11,797 |
Held-to-maturity Securities, Accumulated Unrecognized Holding Gain | 500 | 488 |
Gross Unrealized Losses, Held to Maturity | (1) | (3) |
Fair Value, Held to Maturity | 12,660 | 12,282 |
Amortized Cost, Available for Sale | 46,787 | 47,079 |
Gross Unrealized Gains, Available for Sale | 1,559 | 620 |
Gross Unrealized Losses, Available for Sale | (29) | (134) |
Available-for-sale Securities | 48,317 | 47,565 |
Residential Mortgage-Backed Securities [Member] | ||
Held To Maturity Securities And Available For Sale Securities [Line Items] | ||
Amortized Cost, Available for Sale | 257,713 | 240,804 |
Gross Unrealized Gains, Available for Sale | 1,795 | 936 |
Gross Unrealized Losses, Available for Sale | (501) | (1,852) |
Available-for-sale Securities | 259,007 | 239,888 |
Asset-Backed Securities [Member] | ||
Held To Maturity Securities And Available For Sale Securities [Line Items] | ||
Amortized Cost, Available for Sale | 9,656 | 9,639 |
Gross Unrealized Losses, Available for Sale | (239) | (224) |
Available-for-sale Securities | 9,417 | 9,415 |
Corporate Debt [Member] | ||
Held To Maturity Securities And Available For Sale Securities [Line Items] | ||
Amortized Cost, Available for Sale | 25,009 | 25,251 |
Gross Unrealized Gains, Available for Sale | 203 | 148 |
Gross Unrealized Losses, Available for Sale | (105) | (146) |
Available-for-sale Securities | $ 25,107 | $ 25,253 |
Investment Securities (Amortize
Investment Securities (Amortized Cost And Approximate Fair Value Of Investment Securities By Maturity Date) (Details) - USD ($) $ in Thousands | Jun. 30, 2016 | Dec. 31, 2015 |
Amortized cost and approximate fair value [Abstract] | ||
One year or less, Amortized cost, Available for Sale | $ 13,241 | |
One year or less, Fair Value, Available for Sale | 13,326 | |
One year or less, Amortized Cost, Held to Maturity | 1,657 | |
One year or less, Fair Value, Held to Maturity | 1,656 | |
More than one year through five years, Amortized Cost, Available for Sale | 279,068 | |
More than one year through five years, Fair Value, Available for Sale | 281,813 | |
More than one year through five years, Amortized Cost, Held to Maturity | 6,037 | |
More than one year through five years, Fair Value, Held to Maturity | 6,216 | |
More than five years through ten years, Amortized Cost, Available for Sale | 69,186 | |
More than five years through ten years, Fair Value, Available for Sale | 69,737 | |
More than five years through ten years, Amortized Cost, Held to Maturity | 4,467 | |
More than five years through ten years, Fair Value, Held to Maturity | 4,788 | |
More than ten years, Amortized Cost, Available for Sale | 44,932 | |
More than ten years, Fair Value, Available for Sale | 45,259 | |
Total, Amortized Cost, Available for Sale | 406,427 | |
Total, Fair Value, Available for Sale | 410,135 | |
Held-to-maturity Securities, Total | 12,161 | $ 11,797 |
Fair Value, Held to Maturity | $ 12,660 | $ 12,282 |
Investment Securities (Summar28
Investment Securities (Summary Of Sales Of Available For Sale Securities) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | |
Investment Securities [Abstract] | ||||
Proceeds from sales | $ 18,726 | $ 138 | $ 41,530 | $ 143 |
Gross realized gains | 173 | $ 138 | 345 | $ 143 |
Gross realized losses | $ (8) | $ (54) |
Investment Securities (Summar29
Investment Securities (Summary Of Securities With Gross Unrealized Losses And Their Fair Values) (Details) $ in Thousands | Jun. 30, 2016USD ($)security | Dec. 31, 2015USD ($)security |
Available-for-sale Securities and Held-to-maturity Securities | ||
Number of Securities, Available for Sale | security | 55 | 124 |
Number of Securities, Held to Maturity | security | 3 | 1 |
Amortized cost of securities with unrealized losses, Available for Sale | $ 118,089 | $ 253,872 |
Amortized cost of securities with unrealized losses, Held to Maturity | 2,029 | 1,677 |
Continuous Unrealized Loss Existing for Less Than 12 Months, Available for Sale | (475) | (1,632) |
Continuous Unrealized Loss Existing for Less Than 12 Months, Held to Maturity | 0 | |
Continuous Unrealized Loss Existing for More Than 12 Months, Available for Sale | (561) | (1,097) |
Continuous Unrealized Loss Existing for More Than 12 Months, Held to Maturity | (1) | (3) |
Fair value of securities with unrealized losses, Available for Sale | 117,053 | 251,143 |
Fair value of securities with unrealized losses, Held to Maturity | $ 2,028 | $ 1,674 |
Federal Agency Securities [Member] | ||
Available-for-sale Securities and Held-to-maturity Securities | ||
Number of Securities, Available for Sale | security | 6 | 14 |
Amortized cost of securities with unrealized losses, Available for Sale | $ 15,368 | $ 42,438 |
Continuous Unrealized Loss Existing for Less Than 12 Months, Available for Sale | (132) | (138) |
Continuous Unrealized Loss Existing for More Than 12 Months, Available for Sale | (30) | (235) |
Fair value of securities with unrealized losses, Available for Sale | $ 15,206 | $ 42,065 |
Obligations Of State And Political Subdivisions [Member] | ||
Available-for-sale Securities and Held-to-maturity Securities | ||
Number of Securities, Available for Sale | security | 1 | 14 |
Number of Securities, Held to Maturity | security | 3 | 1 |
Amortized cost of securities with unrealized losses, Available for Sale | $ 2,157 | $ 11,765 |
Amortized cost of securities with unrealized losses, Held to Maturity | 2,029 | 1,677 |
Continuous Unrealized Loss Existing for Less Than 12 Months, Available for Sale | (57) | |
Continuous Unrealized Loss Existing for Less Than 12 Months, Held to Maturity | 0 | |
Continuous Unrealized Loss Existing for More Than 12 Months, Available for Sale | (29) | (77) |
Continuous Unrealized Loss Existing for More Than 12 Months, Held to Maturity | (1) | (3) |
Fair value of securities with unrealized losses, Available for Sale | 2,128 | 11,631 |
Fair value of securities with unrealized losses, Held to Maturity | $ 2,028 | $ 1,674 |
Residential Mortgage-Backed Securities [Member] | ||
Available-for-sale Securities and Held-to-maturity Securities | ||
Number of Securities, Available for Sale | security | 42 | 87 |
Amortized cost of securities with unrealized losses, Available for Sale | $ 80,904 | $ 175,043 |
Continuous Unrealized Loss Existing for Less Than 12 Months, Available for Sale | (235) | (1,247) |
Continuous Unrealized Loss Existing for More Than 12 Months, Available for Sale | (266) | (605) |
Fair value of securities with unrealized losses, Available for Sale | $ 80,403 | $ 173,191 |
Asset-Backed Securities [Member] | ||
Available-for-sale Securities and Held-to-maturity Securities | ||
Number of Securities, Available for Sale | security | 3 | 3 |
Amortized cost of securities with unrealized losses, Available for Sale | $ 9,656 | $ 9,639 |
Continuous Unrealized Loss Existing for Less Than 12 Months, Available for Sale | (86) | (115) |
Continuous Unrealized Loss Existing for More Than 12 Months, Available for Sale | (153) | (109) |
Fair value of securities with unrealized losses, Available for Sale | $ 9,417 | $ 9,415 |
Corporate Debt [Member] | ||
Available-for-sale Securities and Held-to-maturity Securities | ||
Number of Securities, Available for Sale | security | 3 | 6 |
Amortized cost of securities with unrealized losses, Available for Sale | $ 10,004 | $ 14,987 |
Continuous Unrealized Loss Existing for Less Than 12 Months, Available for Sale | (22) | (75) |
Continuous Unrealized Loss Existing for More Than 12 Months, Available for Sale | (83) | (71) |
Fair value of securities with unrealized losses, Available for Sale | $ 9,899 | $ 14,841 |
Loans And Allowance For Loan 30
Loans And Allowance For Loan Losses (Narrative) (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | |
Jun. 30, 2016 | Jun. 30, 2016 | Dec. 31, 2015 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans held for sale | $ 7 | $ 7 | $ 7.5 |
Actual loss period | 3 years | ||
Period to sell loans from the date of closing | 1 month | ||
Accrued additional interest income | $ 0.7 | ||
Interest And Fee Income Nonaccruing Loans | $ 0.4 | ||
Troubled debt restructuring default period | 90 days | ||
Troubled debt restructuring Period | 12 months | ||
Real Estate [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans to individuals and businesses | $ 554.3 | ||
Percentage of loans to individuals and businesses | 30.00% | 30.00% | |
Real Estate Mortgage [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal of mortgage loans serviced for others | $ 443.6 | $ 443.6 | $ 432.3 |
Healthcare [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans to individuals and businesses | $ 435.2 | ||
Percentage of loans to individuals and businesses | 24.00% | 24.00% | |
Maximum [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Number of days for independent appraisals on real estate collateral | 30 days |
Loans And Allowance For Loan 31
Loans And Allowance For Loan Losses (Southwest's Loan Classifications) (Details) - USD ($) $ in Thousands | Jun. 30, 2016 | Dec. 31, 2015 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable | $ 1,821,377 | $ 1,779,429 |
Less: Allowance for loan losses | (26,876) | (26,106) |
Total loans, net | 1,794,501 | 1,753,323 |
Less: Loans held for sale (included above) | (7,010) | (7,453) |
Net loans receivable | 1,787,491 | 1,745,870 |
Commercial Real Estate [Member] | Commercial Portfolio Segment [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable | 558,472 | 507,173 |
Construction Loans [Member] | Commercial Real Estate Portfolio Segment [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable | 175,805 | 129,070 |
Construction Loans [Member] | Residential Portfolio Segment [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable | 20,347 | 21,337 |
Real Estate Mortgage [Member] | Commercial Real Estate Portfolio Segment [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable | 862,287 | 938,462 |
Real Estate Mortgage [Member] | Residential Portfolio Segment [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable | 183,693 | 161,958 |
Installment And Consumer [Member] | Consumer Portfolio Segment [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable | $ 20,773 | $ 21,429 |
Loans and Allowances for Loan L
Loans and Allowances for Loan Losses (Changes In Carryng Amounts And Accretable Yields) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | |
Acquisitions [Abstract] | ||||
Balance at beginning of period, Accretable Yield | $ 742 | $ 419 | $ 807 | $ 540 |
Net charge-offs, Accretable Yield | (11) | (11) | ||
Net reclassifications to / from nonaccretable amount, Accretable Yield | 240 | 240 | ||
Accretion, Accretable yield | (48) | (198) | (113) | (319) |
Balance at end of period, Accretable Yield | 683 | 461 | 683 | 461 |
Balance at beginning of period, Carrying amount of loans | 7,288 | 4,310 | 7,914 | 4,971 |
Payments Received, Carrying amount of loans | (286) | (208) | (790) | (869) |
Net charged-offs, Carrying amount of loans | (196) | (318) | ||
Accretion, Carrying amount of loans | 442 | 442 | ||
Balance at end of period, Carrying amount of loans | $ 6,806 | $ 4,544 | $ 6,806 | $ 4,544 |
Loans And Allowance For Loan 33
Loans And Allowance For Loan Losses (Recorded Investment In Loans On Nonaccrual Status) (Details) - USD ($) $ in Thousands | Jun. 30, 2016 | Dec. 31, 2015 |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total nonaccrual loans | $ 22,259 | $ 19,858 |
Commercial Real Estate Portfolio Segment [Member] | Real Estate Mortgage [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total nonaccrual loans | 3,894 | 3,543 |
Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total nonaccrual loans | 1,436 | 1,010 |
Residential Portfolio Segment [Member] | Real Estate Mortgage [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total nonaccrual loans | 3,106 | 1,729 |
Commercial Portfolio Segment [Member] | Commercial [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total nonaccrual loans | 13,752 | 13,491 |
Consumer Portfolio Segment [Member] | Other Consumer [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total nonaccrual loans | $ 71 | $ 85 |
Loans And Allowance For Loan 34
Loans And Allowance For Loan Losses (Age Analysis Of Past Due Loans) (Details) - USD ($) $ in Thousands | Jun. 30, 2016 | Dec. 31, 2015 | Jun. 30, 2015 | Mar. 31, 2015 |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total past due | $ 28,091 | $ 21,522 | ||
Current | 1,793,286 | 1,757,907 | ||
Loans receivable | 1,821,377 | 1,779,429 | $ 1,449,430 | $ 1,449,430 |
Recorded loans > 90 days and accruing | 66 | 500 | ||
30 Days To 89 Days Past Due [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total past due | 5,766 | 1,164 | ||
90 Days And Greater Past Due [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total past due | 22,325 | 20,358 | ||
Commercial Real Estate [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Loans receivable | 862,287 | 938,462 | ||
One-To-Four Family Residential [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Loans receivable | 183,693 | 161,958 | ||
Real Estate Construction [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Loans receivable | 196,152 | 150,407 | ||
Other [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Loans receivable | 20,773 | 21,429 | ||
Commercial [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Loans receivable | 558,472 | 507,173 | ||
Commercial Real Estate Portfolio Segment [Member] | Commercial Real Estate [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total past due | 4,356 | |||
Current | 857,931 | |||
Loans receivable | 862,287 | 759,406 | ||
Commercial Real Estate Portfolio Segment [Member] | Commercial Real Estate [Member] | 30 Days To 89 Days Past Due [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total past due | 462 | |||
Commercial Real Estate Portfolio Segment [Member] | Commercial Real Estate [Member] | 90 Days And Greater Past Due [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total past due | 3,894 | |||
Commercial Real Estate Portfolio Segment [Member] | Real Estate Mortgage [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total past due | 4,264 | |||
Current | 934,198 | |||
Loans receivable | 938,462 | |||
Recorded loans > 90 days and accruing | 449 | |||
Commercial Real Estate Portfolio Segment [Member] | Real Estate Mortgage [Member] | 30 Days To 89 Days Past Due [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total past due | 272 | |||
Commercial Real Estate Portfolio Segment [Member] | Real Estate Mortgage [Member] | 90 Days And Greater Past Due [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total past due | 3,992 | |||
Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total past due | 1,662 | 493 | ||
Current | 174,143 | 128,060 | ||
Loans receivable | 175,805 | 128,553 | ||
Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | 30 Days To 89 Days Past Due [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total past due | 851 | |||
Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | 90 Days And Greater Past Due [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total past due | 811 | 493 | ||
Residential Portfolio Segment [Member] | One-To-Four Family Residential [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total past due | 3,326 | |||
Current | 180,367 | |||
Loans receivable | 183,693 | $ 85,338 | ||
Recorded loans > 90 days and accruing | 14 | |||
Residential Portfolio Segment [Member] | One-To-Four Family Residential [Member] | 30 Days To 89 Days Past Due [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total past due | 206 | |||
Residential Portfolio Segment [Member] | One-To-Four Family Residential [Member] | 90 Days And Greater Past Due [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total past due | 3,120 | |||
Residential Portfolio Segment [Member] | Real Estate Mortgage [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total past due | 2,326 | |||
Current | 159,632 | |||
Loans receivable | 161,958 | |||
Recorded loans > 90 days and accruing | 48 | |||
Residential Portfolio Segment [Member] | Real Estate Mortgage [Member] | 30 Days To 89 Days Past Due [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total past due | 549 | |||
Residential Portfolio Segment [Member] | Real Estate Mortgage [Member] | 90 Days And Greater Past Due [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total past due | 1,777 | |||
Residential Portfolio Segment [Member] | Construction Loans [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total past due | 625 | 517 | ||
Current | 19,722 | 21,337 | ||
Loans receivable | 20,347 | 21,854 | ||
Residential Portfolio Segment [Member] | Construction Loans [Member] | 90 Days And Greater Past Due [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total past due | 625 | 517 | ||
Real Estate Construction [Member] | Real Estate Construction [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Loans receivable | 196,152 | 199,247 | ||
Commercial Portfolio Segment [Member] | Commercial [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total past due | 17,647 | 13,769 | ||
Current | 540,825 | 493,404 | ||
Loans receivable | 558,472 | 507,173 | 384,788 | |
Recorded loans > 90 days and accruing | 48 | |||
Commercial Portfolio Segment [Member] | Commercial [Member] | 30 Days To 89 Days Past Due [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total past due | 3,847 | 278 | ||
Commercial Portfolio Segment [Member] | Commercial [Member] | 90 Days And Greater Past Due [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total past due | 13,800 | 13,491 | ||
Consumer Portfolio Segment [Member] | Other [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total past due | 475 | 153 | ||
Current | 20,298 | 21,276 | ||
Loans receivable | 20,773 | 21,429 | $ 20,651 | |
Recorded loans > 90 days and accruing | 4 | 3 | ||
Consumer Portfolio Segment [Member] | Other [Member] | 30 Days To 89 Days Past Due [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total past due | 400 | 65 | ||
Consumer Portfolio Segment [Member] | Other [Member] | 90 Days And Greater Past Due [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total past due | $ 75 | $ 88 |
Loans And Allowance For Loan 35
Loans And Allowance For Loan Losses (Impaired Loans) (Details) - USD ($) $ in Thousands | Jun. 30, 2016 | Dec. 31, 2015 |
Financing Receivable, Impaired [Line Items] | ||
With No Specific Allowance Recorded Investment | $ 13,197 | $ 19,112 |
With No Specific Allowance Unpaid Principal Balance | 37,310 | 24,793 |
With A Specific Allowance Recorded Investment | 21,548 | 20,969 |
With A Specific Allowance Unpaid Principal Balance | 24,920 | 27,094 |
With A Specific Allowance Related Allowance | 3,823 | 4,112 |
Commercial Real Estate Portfolio Segment [Member] | Commercial Real Estate [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
With No Specific Allowance Recorded Investment | 1,838 | 12,166 |
With No Specific Allowance Unpaid Principal Balance | 2,171 | 15,747 |
With A Specific Allowance Recorded Investment | 13,992 | 10,940 |
With A Specific Allowance Unpaid Principal Balance | 17,100 | 10,940 |
With A Specific Allowance Related Allowance | 752 | 1,575 |
Residential Portfolio Segment [Member] | One-To-Four Family Residential [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
With No Specific Allowance Recorded Investment | 1,298 | 1,688 |
With No Specific Allowance Unpaid Principal Balance | 1,614 | 2,195 |
With A Specific Allowance Recorded Investment | 1,822 | 185 |
With A Specific Allowance Unpaid Principal Balance | 1,850 | 186 |
With A Specific Allowance Related Allowance | 116 | 11 |
Real Estate Construction [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
With No Specific Allowance Recorded Investment | 1,229 | 1,078 |
With No Specific Allowance Unpaid Principal Balance | 1,456 | 1,327 |
With A Specific Allowance Recorded Investment | 207 | |
With A Specific Allowance Unpaid Principal Balance | 245 | |
With A Specific Allowance Related Allowance | 40 | |
Commercial Portfolio Segment [Member] | Commercial [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
With No Specific Allowance Recorded Investment | 8,761 | 4,095 |
With No Specific Allowance Unpaid Principal Balance | 31,986 | 5,430 |
With A Specific Allowance Recorded Investment | 5,527 | 9,844 |
With A Specific Allowance Unpaid Principal Balance | 5,725 | 15,968 |
With A Specific Allowance Related Allowance | 2,915 | 2,526 |
Consumer Portfolio Segment [Member] | Other [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
With No Specific Allowance Recorded Investment | 71 | 85 |
With No Specific Allowance Unpaid Principal Balance | $ 83 | $ 94 |
Loans And Allowance For Loan 36
Loans And Allowance For Loan Losses (Average Recorded Investment And Interest Income Recognized On Impaired Loans) (Details) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2016 | Jun. 30, 2015 | |
Financing Receivable, Impaired [Line Items] | ||
Average Recorded Investment | $ 35,751 | $ 32,096 |
Interest Income | 915 | 494 |
Commercial Real Estate Portfolio Segment [Member] | Commercial Real Estate [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Average Recorded Investment | 17,365 | 23,862 |
Interest Income | 871 | 473 |
Residential Portfolio Segment [Member] | One-To-Four Family Residential [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Average Recorded Investment | 3,627 | 1,777 |
Interest Income | 12 | 1 |
Real Estate Construction [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Average Recorded Investment | 1,408 | 376 |
Commercial Portfolio Segment [Member] | Commercial [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Average Recorded Investment | 13,274 | 6,080 |
Interest Income | 32 | 20 |
Consumer Portfolio Segment [Member] | Other [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Average Recorded Investment | $ 77 | $ 1 |
Loans And Allowance For Loan 37
Loans And Allowance For Loan Losses (Troubled Debt Restructured Loans Outstanding) (Details) - USD ($) $ in Thousands | Jun. 30, 2016 | Dec. 31, 2015 |
Financing Receivable, Modifications [Line Items] | ||
Accruing | $ 12,486 | $ 20,235 |
Nonaccrual | 5,915 | 6,292 |
Commercial Real Estate [Member] | Commercial Real Estate Portfolio Segment [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Accruing | 11,936 | 19,563 |
Nonaccrual | 358 | 448 |
One-To-Four Family Residential [Member] | Residential Portfolio Segment [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Accruing | 14 | 13 |
Nonaccrual | 47 | 48 |
Commercial [Member] | Commercial Portfolio Segment [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Accruing | 536 | 659 |
Nonaccrual | $ 5,510 | $ 5,796 |
Loans And Allowance For Loan 38
Loans And Allowance For Loan Losses (Loans Modified As Troubled Debt Restructurings) (Details) $ in Thousands | 6 Months Ended |
Jun. 30, 2016USD ($)loan | |
Financing Receivable, Modifications [Line Items] | |
Number of Modifications | loan | 1 |
Recorded Investment | $ | $ 26 |
Commercial Portfolio Segment [Member] | Commercial [Member] | |
Financing Receivable, Modifications [Line Items] | |
Number of Modifications | loan | 1 |
Recorded Investment | $ | $ 26 |
Loans And Allowance For Loan 39
Loans And Allowance For Loan Losses (Classification Of Risk Category Of Loans, By Classes) (Details) - USD ($) $ in Thousands | Jun. 30, 2016 | Dec. 31, 2015 | Jun. 30, 2015 | Mar. 31, 2015 |
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans receivable | $ 1,821,377 | $ 1,779,429 | $ 1,449,430 | $ 1,449,430 |
Pass [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans receivable | 1,708,512 | 1,710,969 | ||
Special Mention [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans receivable | 26,194 | 9,522 | ||
Substandard [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans receivable | 86,401 | 54,482 | ||
Doubtful [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans receivable | 270 | 4,456 | ||
Commercial Real Estate [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans receivable | 862,287 | 938,462 | ||
Commercial Real Estate [Member] | Pass [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans receivable | 818,634 | 902,034 | ||
Commercial Real Estate [Member] | Special Mention [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans receivable | 6,286 | 5,916 | ||
Commercial Real Estate [Member] | Substandard [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans receivable | 37,367 | 30,512 | ||
Commercial Real Estate [Member] | Commercial Real Estate Portfolio Segment [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans receivable | 862,287 | 759,406 | ||
One-To-Four Family Residential [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans receivable | 183,693 | 161,958 | ||
One-To-Four Family Residential [Member] | Pass [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans receivable | 177,948 | 157,912 | ||
One-To-Four Family Residential [Member] | Special Mention [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans receivable | 1,286 | 29 | ||
One-To-Four Family Residential [Member] | Substandard [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans receivable | 4,459 | 4,017 | ||
One-To-Four Family Residential [Member] | Residential Portfolio Segment [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans receivable | 183,693 | $ 85,338 | ||
Real Estate Mortgage [Member] | Commercial Real Estate Portfolio Segment [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans receivable | 938,462 | |||
Real Estate Mortgage [Member] | Residential Portfolio Segment [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans receivable | 161,958 | |||
Real Estate Construction [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans receivable | 196,152 | 150,407 | ||
Real Estate Construction [Member] | Pass [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans receivable | 194,507 | 148,811 | ||
Real Estate Construction [Member] | Special Mention [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans receivable | 209 | 586 | ||
Real Estate Construction [Member] | Substandard [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans receivable | 1,436 | 1,010 | ||
Real Estate Construction [Member] | Real Estate Construction [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans receivable | 196,152 | 199,247 | ||
Commercial [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans receivable | 558,472 | 507,173 | ||
Commercial [Member] | Pass [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans receivable | 496,890 | 480,928 | ||
Commercial [Member] | Special Mention [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans receivable | 18,246 | 2,941 | ||
Commercial [Member] | Substandard [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans receivable | 43,066 | 18,848 | ||
Commercial [Member] | Doubtful [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans receivable | 270 | 4,456 | ||
Commercial [Member] | Commercial Portfolio Segment [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans receivable | 558,472 | 507,173 | $ 384,788 | |
Construction Loans [Member] | Commercial Real Estate Portfolio Segment [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans receivable | 175,805 | 128,553 | ||
Construction Loans [Member] | Residential Portfolio Segment [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans receivable | 20,347 | 21,854 | ||
Other [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans receivable | 20,773 | 21,429 | ||
Other [Member] | Pass [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans receivable | 20,533 | 21,284 | ||
Other [Member] | Special Mention [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans receivable | 167 | 50 | ||
Other [Member] | Substandard [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans receivable | $ 73 | $ 95 |
Loans And Allowance For Loan 40
Loans And Allowance For Loan Losses (By Balance In The Allowance For Loan Losses And The Recorded Investment In Loans Portfolio Classification Disaggregated On The Basis Of Impairment Evaluation Method) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||||||
Jun. 30, 2016 | Jun. 30, 2015 | Mar. 31, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Dec. 31, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | |
Financing Receivable, Recorded Investment [Line Items] | |||||||||
Balance at beginning of period | $ 26,219 | $ 28,452 | $ 26,106 | $ 28,452 | |||||
Loans charged-off | (556) | (4,263) | |||||||
Recoveries | 1,346 | 648 | |||||||
Provision (credit) for loan losses | $ 10 | (1,136) | (3,023) | 4,385 | (3,023) | ||||
Balance at end of period | 26,876 | 26,219 | 26,876 | ||||||
Individually evaluated for impairment | $ 3,312 | $ 3,535 | |||||||
Collectively evaluated for impairment | 23,053 | 22,684 | |||||||
Total ending allowance balance | 26,876 | 26,219 | 28,452 | 26,106 | 28,452 | 26,876 | $ 26,106 | 26,219 | |
Individually evaluated for impairment | 30,051 | 27,591 | |||||||
Collectively evaluated for impairment | 1,784,521 | 1,417,295 | |||||||
Total ending loans balance | 1,821,377 | 1,779,429 | $ 1,449,430 | 1,449,430 | |||||
Receivables Acquired with Deteriorated Credit Quality [Member] | |||||||||
Financing Receivable, Recorded Investment [Line Items] | |||||||||
Acquired with deteriorated credit quality | 511 | ||||||||
Acquired With Deteriorated Credit Quality | 6,805 | ||||||||
Total ending loans balance | 4,544 | ||||||||
Commercial Real Estate [Member] | |||||||||
Financing Receivable, Recorded Investment [Line Items] | |||||||||
Total ending loans balance | 862,287 | 938,462 | |||||||
Commercial Real Estate [Member] | Commercial Real Estate Portfolio Segment [Member] | |||||||||
Financing Receivable, Recorded Investment [Line Items] | |||||||||
Balance at beginning of period | 13,678 | 12,716 | 13,678 | ||||||
Loans charged-off | (3) | (116) | |||||||
Recoveries | 234 | 151 | |||||||
Provision (credit) for loan losses | (2,234) | (448) | |||||||
Balance at end of period | 10,713 | 13,265 | 10,713 | 13,265 | |||||
Individually evaluated for impairment | 281 | 1,875 | |||||||
Collectively evaluated for impairment | 9,961 | 11,390 | |||||||
Total ending allowance balance | 10,713 | 13,265 | 13,678 | 12,716 | 13,678 | 10,713 | 12,716 | 13,265 | |
Individually evaluated for impairment | 13,192 | 20,886 | |||||||
Collectively evaluated for impairment | 844,739 | 735,587 | |||||||
Total ending loans balance | 862,287 | 759,406 | |||||||
Commercial Real Estate [Member] | Commercial Real Estate Portfolio Segment [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | |||||||||
Financing Receivable, Recorded Investment [Line Items] | |||||||||
Acquired with deteriorated credit quality | 471 | ||||||||
Acquired With Deteriorated Credit Quality | 4,356 | ||||||||
Total ending loans balance | 2,933 | ||||||||
One-To-Four Family Residential [Member] | |||||||||
Financing Receivable, Recorded Investment [Line Items] | |||||||||
Total ending loans balance | 183,693 | 161,958 | |||||||
One-To-Four Family Residential [Member] | Residential Portfolio Segment [Member] | |||||||||
Financing Receivable, Recorded Investment [Line Items] | |||||||||
Balance at beginning of period | 712 | 700 | 712 | ||||||
Loans charged-off | (83) | (20) | |||||||
Recoveries | 54 | 443 | |||||||
Provision (credit) for loan losses | 362 | (557) | |||||||
Balance at end of period | 1,033 | 578 | 1,033 | 578 | |||||
Individually evaluated for impairment | 116 | ||||||||
Collectively evaluated for impairment | 917 | 578 | |||||||
Total ending allowance balance | 1,033 | 578 | 712 | 700 | 712 | 1,033 | 700 | 578 | |
Individually evaluated for impairment | 2,187 | 404 | |||||||
Collectively evaluated for impairment | 180,213 | 83,438 | |||||||
Total ending loans balance | 183,693 | 85,338 | |||||||
One-To-Four Family Residential [Member] | Residential Portfolio Segment [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | |||||||||
Financing Receivable, Recorded Investment [Line Items] | |||||||||
Acquired With Deteriorated Credit Quality | 1,293 | ||||||||
Total ending loans balance | $ 1,496 | ||||||||
Real Estate Mortgage [Member] | Commercial Real Estate Portfolio Segment [Member] | |||||||||
Financing Receivable, Recorded Investment [Line Items] | |||||||||
Total ending loans balance | 938,462 | ||||||||
Real Estate Mortgage [Member] | Residential Portfolio Segment [Member] | |||||||||
Financing Receivable, Recorded Investment [Line Items] | |||||||||
Total ending loans balance | 161,958 | ||||||||
Construction Loans [Member] | Commercial Real Estate Portfolio Segment [Member] | |||||||||
Financing Receivable, Recorded Investment [Line Items] | |||||||||
Total ending loans balance | 175,805 | 128,553 | |||||||
Construction Loans [Member] | Residential Portfolio Segment [Member] | |||||||||
Financing Receivable, Recorded Investment [Line Items] | |||||||||
Total ending loans balance | 20,347 | 21,854 | |||||||
Commercial [Member] | |||||||||
Financing Receivable, Recorded Investment [Line Items] | |||||||||
Total ending loans balance | 558,472 | 507,173 | |||||||
Commercial [Member] | Commercial Portfolio Segment [Member] | |||||||||
Financing Receivable, Recorded Investment [Line Items] | |||||||||
Balance at beginning of period | 8,541 | 9,614 | 9,965 | 9,614 | |||||
Loans charged-off | (343) | (3,801) | |||||||
Recoveries | 583 | 311 | |||||||
Provision (credit) for loan losses | (1,313) | 5,194 | |||||||
Balance at end of period | 11,669 | 8,541 | 11,669 | ||||||
Individually evaluated for impairment | 2,915 | 1,660 | |||||||
Collectively evaluated for impairment | 8,754 | 6,881 | |||||||
Total ending allowance balance | 11,669 | 8,541 | 9,614 | 9,965 | 9,614 | 11,669 | 9,965 | 8,541 | |
Individually evaluated for impairment | 13,880 | 5,885 | |||||||
Collectively evaluated for impairment | 544,221 | 378,881 | |||||||
Total ending loans balance | 558,472 | 507,173 | 384,788 | ||||||
Commercial [Member] | Commercial Portfolio Segment [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | |||||||||
Financing Receivable, Recorded Investment [Line Items] | |||||||||
Acquired With Deteriorated Credit Quality | 371 | ||||||||
Total ending loans balance | 22 | ||||||||
Real Estate Construction [Member] | |||||||||
Financing Receivable, Recorded Investment [Line Items] | |||||||||
Total ending loans balance | 196,152 | 150,407 | |||||||
Real Estate Construction [Member] | Real Estate Construction [Member] | |||||||||
Financing Receivable, Recorded Investment [Line Items] | |||||||||
Balance at beginning of period | 3,660 | 4,159 | 2,533 | 4,159 | |||||
Loans charged-off | (21) | ||||||||
Recoveries | 31 | ||||||||
Provision (credit) for loan losses | (509) | 647 | |||||||
Balance at end of period | 3,180 | 3,660 | 3,180 | ||||||
Collectively evaluated for impairment | 3,140 | 3,660 | |||||||
Total ending allowance balance | 3,180 | 3,660 | 4,159 | 2,533 | 4,159 | 3,180 | 2,533 | 3,660 | |
Individually evaluated for impairment | 754 | 416 | |||||||
Collectively evaluated for impairment | 194,646 | 198,738 | |||||||
Total ending loans balance | 196,152 | 199,247 | |||||||
Real Estate Construction [Member] | Real Estate Construction [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | |||||||||
Financing Receivable, Recorded Investment [Line Items] | |||||||||
Acquired with deteriorated credit quality | 40 | ||||||||
Acquired With Deteriorated Credit Quality | 752 | ||||||||
Total ending loans balance | 93 | ||||||||
Other [Member] | |||||||||
Financing Receivable, Recorded Investment [Line Items] | |||||||||
Total ending loans balance | 20,773 | 21,429 | |||||||
Other [Member] | Consumer Portfolio Segment [Member] | |||||||||
Financing Receivable, Recorded Investment [Line Items] | |||||||||
Balance at beginning of period | 175 | 289 | 192 | 289 | |||||
Loans charged-off | (56) | (376) | |||||||
Recoveries | 138 | 49 | |||||||
Provision (credit) for loan losses | (196) | 416 | |||||||
Balance at end of period | 281 | 175 | 281 | ||||||
Collectively evaluated for impairment | 281 | 175 | |||||||
Total ending allowance balance | $ 281 | $ 175 | $ 289 | $ 192 | $ 289 | 281 | 192 | 175 | |
Individually evaluated for impairment | 38 | ||||||||
Collectively evaluated for impairment | 20,702 | 20,651 | |||||||
Total ending loans balance | 20,773 | $ 21,429 | $ 20,651 | ||||||
Other [Member] | Consumer Portfolio Segment [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | |||||||||
Financing Receivable, Recorded Investment [Line Items] | |||||||||
Acquired With Deteriorated Credit Quality | $ 33 |
Fair Value Measurements (Narrat
Fair Value Measurements (Narrative) (Details) - USD ($) $ in Millions | 6 Months Ended | 12 Months Ended |
Jun. 30, 2016 | Dec. 31, 2015 | |
Finite-Lived Intangible Assets [Line Items] | ||
Impaired loans carrying amount | $ 26.9 | $ 25.9 |
Impaired loans measured at fair value | 22.2 | 21.6 |
Impaired loans life to date impairment | 4.7 | 4.3 |
Mortgage Loan Servicing Rights [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Mortgage Servicing Rights (MSR) Impairment (Recovery) | $ 0.5 | 0.1 |
Covered And Noncovered [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Impairment charge of other real estate assets | $ 0.1 |
Fair Value Measurements (Summar
Fair Value Measurements (Summary Of Financial Assets Measured At Fair Value On A Recurring Basis) (Details) - USD ($) $ in Thousands | Jun. 30, 2016 | Dec. 31, 2015 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities | $ 410,135 | $ 400,331 |
Derivative asset | 5,163 | 1,793 |
Derivative liability | (5,163) | (1,793) |
Fair Value, Measurements, Recurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset | 5,163 | 1,793 |
Total Assets at Fair Value on a recurring basis | 408,976 | 398,961 |
Fair Value, Measurements, Recurring [Member] | Federal Agency Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities | 68,287 | 78,211 |
Fair Value, Measurements, Recurring [Member] | Obligations Of State And Political Subdivisions [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities | 48,317 | 47,564 |
Fair Value, Measurements, Recurring [Member] | Residential Mortgage-Backed Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities | 259,007 | 239,888 |
Fair Value, Measurements, Recurring [Member] | Asset-Backed Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities | 9,417 | 9,415 |
Fair Value, Measurements, Recurring [Member] | Corporate Debt [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities | 25,107 | 25,253 |
Fair Value, Measurements, Recurring [Member] | Derivative Instrument [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative liability | (6,322) | (3,163) |
Fair Value, Measurements, Recurring [Member] | Level 1 Inputs [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Assets at Fair Value on a recurring basis | 137 | 137 |
Fair Value, Measurements, Recurring [Member] | Level 1 Inputs [Member] | Corporate Debt [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities | 137 | 137 |
Fair Value, Measurements, Recurring [Member] | Level 2 Inputs [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset | 5,163 | 1,793 |
Total Assets at Fair Value on a recurring basis | 408,839 | 398,824 |
Fair Value, Measurements, Recurring [Member] | Level 2 Inputs [Member] | Federal Agency Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities | 68,287 | 78,211 |
Fair Value, Measurements, Recurring [Member] | Level 2 Inputs [Member] | Obligations Of State And Political Subdivisions [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities | 48,317 | 47,564 |
Fair Value, Measurements, Recurring [Member] | Level 2 Inputs [Member] | Residential Mortgage-Backed Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities | 259,007 | 239,888 |
Fair Value, Measurements, Recurring [Member] | Level 2 Inputs [Member] | Asset-Backed Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities | 9,417 | 9,415 |
Fair Value, Measurements, Recurring [Member] | Level 2 Inputs [Member] | Corporate Debt [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities | 24,970 | 25,116 |
Fair Value, Measurements, Recurring [Member] | Level 2 Inputs [Member] | Derivative Instrument [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative liability | $ (6,322) | $ (3,163) |
Fair Value Measurements (Asset
Fair Value Measurements (Asset Measured At Fair Value On A Nonrecurring Basis) (Details) - Fair Value Measurements Nonrecurring [Member] - USD ($) $ in Thousands | Jun. 30, 2016 | Dec. 31, 2015 |
Noncovered impaired loans at fair value: | ||
Assets fair value, Total | $ 32,587 | $ 35,050 |
Commercial Real Estate [Member] | ||
Noncovered impaired loans at fair value: | ||
Assets fair value, Total | 14,403 | 11,182 |
One-To-Four Family Residential [Member] | ||
Noncovered impaired loans at fair value: | ||
Loans held for sale | 7,010 | 7,453 |
Assets fair value, Total | 1,821 | 185 |
Real Estate Construction [Member] | ||
Noncovered impaired loans at fair value: | ||
Assets fair value, Total | 207 | 390 |
Commercial [Member] | ||
Noncovered impaired loans at fair value: | ||
Assets fair value, Total | 5,796 | 9,845 |
Other Real Estate [Member] | ||
Noncovered impaired loans at fair value: | ||
Assets fair value, Total | 2,274 | |
Mortgage Loan Servicing Rights [Member] | ||
Noncovered impaired loans at fair value: | ||
Assets fair value, Total | 3,350 | 3,721 |
Level 2 Inputs [Member] | ||
Noncovered impaired loans at fair value: | ||
Assets fair value, Total | 10,360 | 11,174 |
Level 2 Inputs [Member] | One-To-Four Family Residential [Member] | ||
Noncovered impaired loans at fair value: | ||
Loans held for sale | 7,010 | 7,453 |
Level 2 Inputs [Member] | Mortgage Loan Servicing Rights [Member] | ||
Noncovered impaired loans at fair value: | ||
Assets fair value, Total | 3,350 | 3,721 |
Level 3 Inputs [Member] | ||
Noncovered impaired loans at fair value: | ||
Assets fair value, Total | 22,227 | 23,876 |
Level 3 Inputs [Member] | Commercial Real Estate [Member] | ||
Noncovered impaired loans at fair value: | ||
Assets fair value, Total | 14,403 | 11,182 |
Level 3 Inputs [Member] | One-To-Four Family Residential [Member] | ||
Noncovered impaired loans at fair value: | ||
Assets fair value, Total | 1,821 | 185 |
Level 3 Inputs [Member] | Real Estate Construction [Member] | ||
Noncovered impaired loans at fair value: | ||
Assets fair value, Total | 207 | 390 |
Level 3 Inputs [Member] | Commercial [Member] | ||
Noncovered impaired loans at fair value: | ||
Assets fair value, Total | $ 5,796 | 9,845 |
Level 3 Inputs [Member] | Other Real Estate [Member] | ||
Noncovered impaired loans at fair value: | ||
Assets fair value, Total | $ 2,274 |
Fair Value Measurements (Carryi
Fair Value Measurements (Carrying Values And Estimated Fair Values Of Financial Instruments Segregated By The Level Of The Valuation Inputs) (Details) - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended |
Jun. 30, 2016 | Dec. 31, 2015 | |
Financial Assets: | ||
Held to maturity securities, fair value | $ 12,660 | $ 12,282 |
Accrued interest receivable | 5,730 | 5,767 |
Derivative Assets | 5,163 | 1,793 |
Financial Liabilities: | ||
Accrued interest payable | 931 | 867 |
Derivative instrument | 5,163 | 1,793 |
Other borrowings | 153,568 | 110,927 |
Carrying Values [Member] | Level 2 Inputs [Member] | ||
Financial Assets: | ||
Cash and cash equivalents | 68,088 | 78,129 |
Held to maturity securities, fair value | 12,161 | 11,797 |
Accrued interest receivable | 5,730 | 5,767 |
Investments included in other assets | 14,398 | 10,383 |
Financial Liabilities: | ||
Deposits | 1,902,865 | 1,884,105 |
Accrued interest payable | 931 | 867 |
Other liabilities | 9,823 | 10,314 |
Other borrowings | 153,568 | 110,927 |
Subordinated debentures | 46,393 | 51,548 |
Carrying Values [Member] | Level 3 Inputs [Member] | ||
Financial Assets: | ||
Total loans, net of allowance | 1,794,501 | 1,753,323 |
Fair Values [Member] | ||
Financial Liabilities: | ||
Loan commitments | 466,205 | 446,412 |
Letters of credit | 7,112 | 6,563 |
Fair Values [Member] | Level 2 Inputs [Member] | ||
Financial Assets: | ||
Cash and cash equivalents | 68,088 | 78,129 |
Held to maturity securities, fair value | 12,660 | 12,282 |
Accrued interest receivable | 5,730 | 5,767 |
Investments included in other assets | 14,398 | 10,383 |
Financial Liabilities: | ||
Deposits | 1,839,860 | 1,780,954 |
Accrued interest payable | 931 | 867 |
Other liabilities | 9,823 | 10,314 |
Other borrowings | 154,476 | 112,149 |
Subordinated debentures | 46,393 | 51,548 |
Fair Values [Member] | Level 3 Inputs [Member] | ||
Financial Assets: | ||
Total loans, net of allowance | $ 1,780,222 | $ 1,728,114 |
Derivative Instruments (Details
Derivative Instruments (Details) $ in Thousands | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||
Mar. 31, 2016USD ($) | Mar. 31, 2015USD ($) | Jun. 30, 2016USD ($)item | Jun. 30, 2015USD ($) | Dec. 31, 2015USD ($) | |
Derivative [Line Items] | |||||
Interest payment period | 7 years | ||||
Fixed interest rate | 6.15% | ||||
Rate received by Southwest | 3.48% | ||||
Pretax loss related to derivative contracts | $ 1,200 | $ 1,400 | |||
Gain or loss due to changes in the fair value of the derivative hedging instrument | (100) | $ 100 | |||
Net cash flows as a result of the interest rate swap agreement | $ 300 | $ 300 | $ 400 | ||
Fair Value Net of Cash Collateral | 7,400 | ||||
Interest Rate Swap on Trust Preferred Securities [Member] | |||||
Derivative [Line Items] | |||||
Interest rate swap agreement Notional amount | $ 25,000 | ||||
Variable interest rate | 2.85% | ||||
The fair value of cash and securities posted as collateral | $ 2,100 | $ 2,100 | 2,100 | ||
Customer Risk Management Swaps [Member] | |||||
Derivative [Line Items] | |||||
Number of customer interest rate swap agreements | item | 9 | ||||
Interest rate swap agreement Notional amount | $ 98,300 | ||||
Non-Hedge Derivative Asset [Member] | |||||
Derivative [Line Items] | |||||
Derivative Asset, Notional Amount | 98,318 | 101,629 | |||
Non-hedge derivative asset, fair value | 5,163 | 1,793 | |||
Non-Hedge Derivative Liability [Member] | |||||
Derivative [Line Items] | |||||
Derivative Liability, Notional Amount | 98,318 | 101,629 | |||
Non-hedge derivative liability, fair value | $ 5,163 | $ 1,793 |
Taxes On Income (Details)
Taxes On Income (Details) - USD ($) $ in Millions | Jun. 30, 2016 | Dec. 31, 2015 |
Taxes On Income [Abstract] | ||
Net deferred tax assets | $ 12 | $ 14 |
Shareholders' Equity (Details)
Shareholders' Equity (Details) - USD ($) $ in Thousands | 6 Months Ended | 30 Months Ended | ||
Jun. 30, 2016 | Jun. 30, 2016 | May 25, 2016 | Dec. 31, 2015 | |
Shareholders' Equity [Abstract] | ||||
Treasury Stock Value | $ 40,033 | $ 40,033 | $ 18,926 | |
Stock Repurchase Program Authorized Percent Of Common Stock | 5.00% | |||
Stock Repurchase Program, Number of Shares Authorized to be Repurchased | 921,000 | |||
Treasury Stock, Shares, Acquired | 1,336,387 | 2,457,945 | ||
Treasury Stock, Amount, Acquired | $ 21,000 | $ 39,800 |
Earnings Per Common Share (Deta
Earnings Per Common Share (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | |
Numerator: | ||||
Net income | $ 5,412 | $ 4,161 | $ 7,281 | $ 8,696 |
Earnings allocated to participating securities | (110) | (73) | (131) | (143) |
Numerator for earnings per common share | $ 5,302 | $ 4,088 | $ 7,150 | $ 8,553 |
Denominator: | ||||
Denominator for basic earnings per common share | 18,574,300 | 18,666,853 | 18,916,686 | 18,714,088 |
Effect of dilutive securities: | ||||
Stock compensation | 102,261 | 197,124 | 18,918 | 172,332 |
Denominator for diluted earnings per common share | 18,676,561 | 18,863,977 | 18,935,604 | 18,886,420 |
Earnings per common share: | ||||
Basic | $ 0.29 | $ 0.22 | $ 0.38 | $ 0.46 |
Diluted | $ 0.28 | $ 0.22 | $ 0.38 | $ 0.46 |
Operating Segments (Narrative)
Operating Segments (Narrative) (Details) | 6 Months Ended |
Jun. 30, 2016segment | |
Operating Segments [Abstract] | |
Number of principal segments | 4 |
Operating Segments (Financial R
Operating Segments (Financial Results By Operating Segment) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2016 | Jun. 30, 2015 | Mar. 31, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | |
Financial results by operating segment | |||||
Net interest income (loss) | $ 19,695 | $ 15,791 | $ 39,535 | $ 31,401 | |
Provision (credit) for loan losses | 10 | (1,136) | $ (3,023) | 4,385 | (3,023) |
Noninterest income | 3,871 | 3,409 | 7,286 | 6,249 | |
Noninterest expenses | 15,268 | 13,982 | 31,264 | 27,064 | |
Income before taxes | 8,288 | 6,354 | 11,172 | 13,609 | |
Taxes on income (loss) | 2,876 | 2,193 | 3,891 | 4,913 | |
Net income | 5,412 | 4,161 | 7,281 | 8,696 | |
Externally generated revenue from investing activities | 1,900 | 700 | |||
Internally generated loss from fund management | 1,000 | 1,000 | |||
Total loans at period end | 1,821,377 | 1,449,430 | $ 1,449,430 | 1,821,377 | 1,449,430 |
Total assets at period end | 2,402,262 | 2,031,581 | 2,402,262 | 2,031,581 | |
Total deposits at period end | 1,902,865 | 1,624,446 | 1,902,865 | 1,624,446 | |
Oklahoma Banking [Member] | |||||
Financial results by operating segment | |||||
Net interest income (loss) | 12,339 | 9,299 | 25,277 | 19,034 | |
Provision (credit) for loan losses | (210) | (689) | 50 | (1,922) | |
Noninterest income | 2,657 | 2,386 | 4,852 | 4,425 | |
Noninterest expenses | 9,879 | 7,698 | 19,839 | 15,043 | |
Income before taxes | 5,327 | 4,676 | 10,240 | 10,338 | |
Taxes on income (loss) | 1,837 | 1,609 | 3,566 | 3,732 | |
Net income | 3,490 | 3,067 | 6,674 | 6,606 | |
Total loans at period end | 1,085,986 | 810,368 | 1,085,986 | 810,368 | |
Total assets at period end | 1,130,161 | 824,073 | 1,130,161 | 824,073 | |
Total deposits at period end | 1,322,430 | 1,134,020 | 1,322,430 | 1,134,020 | |
Texas Banking [Member] | |||||
Financial results by operating segment | |||||
Net interest income (loss) | 5,640 | 4,793 | 11,206 | 10,013 | |
Provision (credit) for loan losses | 330 | (283) | 2,245 | (533) | |
Noninterest income | 290 | 278 | 592 | 587 | |
Noninterest expenses | 3,256 | 3,793 | 6,987 | 7,228 | |
Income before taxes | 2,344 | 1,561 | 2,566 | 3,905 | |
Taxes on income (loss) | 816 | 531 | 894 | 1,410 | |
Net income | 1,528 | 1,030 | 1,672 | 2,495 | |
Total loans at period end | 577,333 | 493,047 | 577,333 | 493,047 | |
Total assets at period end | 573,199 | 491,442 | 573,199 | 491,442 | |
Total deposits at period end | 190,475 | 226,498 | 190,475 | 226,498 | |
Kansas Banking [Member] | |||||
Financial results by operating segment | |||||
Net interest income (loss) | 1,638 | 1,731 | 3,466 | 3,194 | |
Provision (credit) for loan losses | (113) | (165) | 2,086 | (568) | |
Noninterest income | 300 | 329 | 618 | 631 | |
Noninterest expenses | 1,347 | 1,606 | 2,764 | 3,215 | |
Income before taxes | 704 | 619 | (766) | 1,178 | |
Taxes on income (loss) | 250 | 216 | (267) | 425 | |
Net income | 454 | 403 | (499) | 753 | |
Total loans at period end | 158,058 | 146,015 | 158,058 | 146,015 | |
Total assets at period end | 157,054 | 147,302 | 157,054 | 147,302 | |
Total deposits at period end | 135,585 | 126,671 | 135,585 | 126,671 | |
Other Operations [Member] | |||||
Financial results by operating segment | |||||
Net interest income (loss) | 78 | (32) | (414) | (840) | |
Provision (credit) for loan losses | 3 | 1 | 4 | ||
Noninterest income | 624 | 416 | 1,224 | 606 | |
Noninterest expenses | 786 | 885 | 1,674 | 1,578 | |
Income before taxes | (87) | (502) | (868) | (1,812) | |
Taxes on income (loss) | (27) | (163) | (302) | (654) | |
Net income | (60) | (339) | (566) | (1,158) | |
Total assets at period end | 541,848 | 568,764 | 541,848 | 568,764 | |
Total deposits at period end | $ 254,375 | $ 137,257 | $ 254,375 | $ 137,257 |
Commitments And Contingencies (
Commitments And Contingencies (Narrative) (Details) $ in Millions | 6 Months Ended |
Jun. 30, 2016USD ($) | |
Loss Contingency, Information about Litigation Matters [Abstract] | |
Loan Balance of Swap Commitment | $ 15.3 |
Loss Contingency, Lawsuit Filing Date | March 18, 2011 |