Document and Entity Information
Document and Entity Information - shares | 6 Months Ended | |
Jun. 30, 2017 | Jul. 31, 2017 | |
Document And Entity Information [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Jun. 30, 2017 | |
Document Fiscal Year Focus | 2,017 | |
Document Fiscal Period Focus | Q2 | |
Trading Symbol | HOMB | |
Entity Registrant Name | HOME BANCSHARES INC | |
Entity Central Index Key | 1,331,520 | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Large Accelerated Filer | |
Entity Common Stock, Shares Outstanding | 143,091,132 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Assets | ||
Cash and due from banks | $ 147,041 | $ 123,758 |
Interest-bearing deposits with other banks | 313,447 | 92,891 |
Cash and cash equivalents | 460,488 | 216,649 |
Federal funds sold | 1,550 | |
Investment securities - available-for-sale | 1,400,431 | 1,072,920 |
Investment securities - held-to-maturity | 254,161 | 284,176 |
Loans receivable | 7,834,475 | 7,387,699 |
Allowance for loan losses | (80,138) | (80,002) |
Loans receivable, net | 7,754,337 | 7,307,697 |
Bank premises and equipment, net | 207,071 | 205,301 |
Foreclosed assets held for sale | 18,789 | 15,951 |
Cash value of life insurance | 97,684 | 86,491 |
Accrued interest receivable | 32,445 | 30,838 |
Deferred tax asset, net | 68,368 | 61,298 |
Goodwill | 420,941 | 377,983 |
Core deposit and other intangibles | 21,019 | 18,311 |
Other assets | 136,494 | 129,300 |
Total assets | 10,872,228 | 9,808,465 |
Deposits: | ||
Demand and non-interest-bearing | 1,957,677 | 1,695,184 |
Savings and interest-bearing transaction accounts | 4,335,456 | 3,963,241 |
Time deposits | 1,474,255 | 1,284,002 |
Total deposits | 7,767,388 | 6,942,427 |
Securities sold under agreements to repurchase | 133,741 | 121,290 |
FHLB and other borrowed funds | 1,099,478 | 1,305,198 |
Accrued interest payable and other liabilities | 37,751 | 51,234 |
Subordinated debentures | 357,838 | 60,826 |
Total liabilities | 9,396,196 | 8,480,975 |
Stockholders' equity: | ||
Common stock, par value $0.01; shares authorized 200,000,000 in 2017 and 2016; shares issued and outstanding 143,070,851 in 2017 and 140,472,205 in 2016 | 1,431 | 1,405 |
Capital surplus | 940,821 | 869,737 |
Retained earnings | 527,338 | 455,948 |
Accumulated other comprehensive income | 6,442 | 400 |
Total stockholders' equity | 1,476,032 | 1,327,490 |
Total liabilities and stockholders' equity | $ 10,872,228 | $ 9,808,465 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - $ / shares | Jun. 30, 2017 | Dec. 31, 2016 |
Statement of Financial Position [Abstract] | ||
Common stock, par value | $ 0.01 | $ 0.01 |
Common stock, shares authorized | 200,000,000 | 200,000,000 |
Common stock, shares issued | 143,070,851 | 140,472,205 |
Common stock, shares outstanding | 143,070,851 | 140,472,205 |
Consolidated Statements of Inco
Consolidated Statements of Income - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
Interest income: | ||||
Loans | $ 112,732 | $ 100,415 | $ 218,494 | $ 197,328 |
Investment securities | ||||
Taxable | 6,434 | 5,145 | 11,912 | 10,595 |
Tax-exempt | 2,966 | 2,823 | 5,910 | 5,638 |
Deposits - other banks | 727 | 106 | 1,035 | 208 |
Federal funds sold | 4 | 1 | 6 | 5 |
Total interest income | 122,863 | 108,490 | 237,357 | 213,774 |
Interest expense: | ||||
Interest on deposits | 6,810 | 3,854 | 12,296 | 7,488 |
Federal funds purchased | 1 | 2 | ||
FHLB and other borrowed funds | 3,710 | 3,074 | 7,299 | 6,144 |
Securities sold under agreements to repurchase | 196 | 134 | 361 | 279 |
Subordinated debentures | 4,795 | 386 | 5,234 | 763 |
Total interest expense | 15,511 | 7,449 | 25,190 | 14,676 |
Net interest income | 107,352 | 101,041 | 212,167 | 199,098 |
Provision for loan losses | 387 | 5,692 | 4,301 | 11,369 |
Net interest income after provision for loan losses | 106,965 | 95,349 | 207,866 | 187,729 |
Non-interest income: | ||||
Service charges on deposit accounts | 5,966 | 6,151 | 11,948 | 12,080 |
Other service charges and fees | 8,576 | 7,968 | 17,493 | 15,085 |
Trust fees | 309 | 359 | 765 | 763 |
Mortgage lending income | 3,750 | 3,481 | 6,541 | 6,344 |
Insurance commissions | 465 | 617 | 1,010 | 1,274 |
Increase in cash value of life insurance | 463 | 353 | 773 | 748 |
Dividends from FHLB, FRB, Bankers' bank & other | 472 | 719 | 1,621 | 1,339 |
Gain on acquisitions | 3,807 | |||
Gain on sale of SBA loans | 387 | 79 | 575 | 79 |
Gain (loss) on sale of branches, equipment and other assets, net | 431 | 840 | 375 | 787 |
Gain (loss) on OREO, net | 393 | (941) | 514 | (845) |
Gain (loss) on securities, net | 380 | 15 | 803 | 25 |
FDIC indemnification accretion/(amortization), net | (410) | (772) | ||
Other income | 2,825 | 2,541 | 4,662 | 4,302 |
Total non-interest income | 24,417 | 21,772 | 50,887 | 41,209 |
Non-interest expense: | ||||
Salaries and employee benefits | 28,034 | 25,437 | 55,455 | 49,395 |
Occupancy and equipment | 7,034 | 6,509 | 13,715 | 13,180 |
Data processing expense | 2,863 | 2,766 | 5,586 | 5,430 |
Other operating expenses | 13,072 | 12,875 | 31,388 | 25,230 |
Total non-interest expense | 51,003 | 47,587 | 106,144 | 93,235 |
Income before income taxes | 80,379 | 69,534 | 152,609 | 135,703 |
Income tax expense | 30,282 | 26,025 | 55,656 | 50,767 |
Net income | $ 50,097 | $ 43,509 | $ 96,953 | $ 84,936 |
Basic earnings per share | $ 0.35 | $ 0.31 | $ 0.68 | $ 0.61 |
Diluted earnings per share | $ 0.35 | $ 0.31 | $ 0.68 | $ 0.60 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
Statement of Comprehensive Income [Abstract] | ||||
Net income | $ 50,097 | $ 43,509 | $ 96,953 | $ 84,936 |
Net unrealized gain (loss) on available-for-sale securities | 9,318 | 7,375 | 10,746 | 11,150 |
Less: reclassification adjustment for realized (gains) losses included in income | (380) | (15) | (803) | (25) |
Other comprehensive (loss) income, before tax effect | 8,938 | 7,360 | 9,943 | 11,125 |
Tax effect | (3,506) | (2,888) | (3,901) | (4,365) |
Other comprehensive income (loss) | 5,432 | 4,472 | 6,042 | 6,760 |
Comprehensive income | $ 55,529 | $ 47,981 | $ 102,995 | $ 91,696 |
Consolidated Statements of Stoc
Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands | Total | Giant Holdings, Inc. [Member] | Common Stock [Member] | Common Stock [Member]Giant Holdings, Inc. [Member] | Capital Surplus [Member] | Capital Surplus [Member]Giant Holdings, Inc. [Member] | Retained Earnings [Member] | Accumulated Other Comprehensive Income (Loss) [Member] |
Beginning Balance at Dec. 31, 2015 | $ 1,199,757 | $ 701 | $ 867,981 | $ 326,898 | $ 4,177 | |||
Comprehensive income: | ||||||||
Net income | 84,936 | 84,936 | ||||||
Other comprehensive income (loss) | 6,760 | 6,760 | ||||||
Net issuance of shares of common stock from exercise of stock options plus issuance of bonus shares of unrestricted common stock | 1,164 | 2 | 1,162 | |||||
Issuance of common stock - 2-for-1 stock split | 702 | (702) | ||||||
Repurchase of shares of common stock | (8,842) | (2) | (8,840) | |||||
Tax benefit from stock options exercised | 1,148 | 1,148 | ||||||
Share-based compensation net issuance of shares of restricted common stock | 2,812 | 1 | 2,811 | |||||
Cash dividends - Common Stock | (22,820) | (22,820) | ||||||
Ending balance at Jun. 30, 2016 | 1,264,915 | 1,404 | 863,560 | 389,014 | 10,937 | |||
Comprehensive income: | ||||||||
Net income | 92,210 | 92,210 | ||||||
Other comprehensive income (loss) | (10,537) | (10,537) | ||||||
Net issuance of shares of common stock from exercise of stock options | 331 | 1 | 330 | |||||
Repurchase of shares of common stock | (975) | (1) | (974) | |||||
Tax benefit from stock options exercised | 3,006 | 3,006 | ||||||
Share-based compensation net issuance of shares of restricted common stock | 3,816 | 1 | 3,815 | |||||
Cash dividends - Common Stock | (25,276) | (25,276) | ||||||
Ending balance at Dec. 31, 2016 | 1,327,490 | 1,405 | 869,737 | 455,948 | 400 | |||
Comprehensive income: | ||||||||
Net income | 96,953 | 96,953 | ||||||
Other comprehensive income (loss) | 6,042 | 6,042 | ||||||
Net issuance of shares of common stock from exercise of stock options | 646 | 1 | 645 | |||||
Issuance of 2,738,038 shares of common stock from acquisition of GHI, net of issuance costs of approximately $195 | $ 77,317 | $ 27 | $ 77,290 | |||||
Repurchase of shares of common stock | (10,280) | (4) | (10,276) | |||||
Share-based compensation net issuance of shares of restricted common stock | 3,427 | 2 | 3,425 | |||||
Cash dividends - Common Stock | (25,563) | (25,563) | ||||||
Ending balance at Jun. 30, 2017 | $ 1,476,032 | $ 1,431 | $ 940,821 | $ 527,338 | $ 6,442 |
Consolidated Statements of Sto7
Consolidated Statements of Stockholders' Equity (Parenthetical) $ in Thousands | 6 Months Ended | ||
Jun. 30, 2017USD ($)$ / sharesshares | Dec. 31, 2016$ / sharesshares | Jun. 30, 2016$ / sharesshares | |
Net issuance of shares of common stock from exercise of stock options | 135,108 | 54,171 | 438,568 |
Issuance of bonus shares of unrestricted common stock | 10,000 | ||
Stock split conversion ratio | 2 | ||
Net issuance cost of common stock | $ | $ 195 | ||
Common stock shares repurchased | 420,000 | 48,808 | 461,800 |
Issuance of restricted common stock | 145,500 | 92,328 | 151,406 |
Common stock, cash dividends per share | $ / shares | $ 0.18 | $ 0.18 | $ 0.1625 |
Giant Holdings, Inc. [Member] | |||
Net issuance of shares of common stock | 2,738,038 | ||
Net issuance cost of common stock | $ | $ 195 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2017 | Jun. 30, 2016 | |
Operating Activities | ||
Net income | $ 96,953 | $ 84,936 |
Adjustments to reconcile net income to net cash provided by (used in) operating activities: | ||
Depreciation | 5,636 | 5,452 |
Amortization/(accretion) | 7,698 | 7,880 |
Share-based compensation | 3,427 | 2,812 |
Tax benefits from stock options exercised | (1,148) | |
(Gain) loss on assets | (3,379) | (46) |
Gain on acquisitions | (3,807) | |
Provision for loan losses | 4,301 | 11,369 |
Deferred income tax effect | (2,680) | 5,587 |
Increase in cash value of life insurance | (773) | (748) |
Originations of mortgage loans held for sale | (182,918) | (172,162) |
Proceeds from sales of mortgage loans held for sale | 193,406 | 168,754 |
Changes in assets and liabilities: | ||
Accrued interest receivable | (276) | 584 |
Indemnification and other assets | (5,733) | (12,870) |
Accrued interest payable and other liabilities | (28,362) | (3,072) |
Net cash provided by (used in) operating activities | 83,493 | 97,328 |
Investing Activities | ||
Net (increase) decrease in federal funds sold | 1,550 | 1,025 |
Net (increase) decrease in loans, excluding purchased loans | (29,021) | (391,492) |
Purchases of investment securities - available-for-sale | (391,375) | (151,210) |
Proceeds from maturities of investment securities - available-for-sale | 69,847 | 140,127 |
Proceeds from sale of investment securities - available-for-sale | 27,134 | 2,221 |
Purchases of investment securities - held-to-maturity | (163) | |
Proceeds from maturities of investment securities - held-to-maturity | 29,057 | 20,631 |
Proceeds from sale of investment securities - held-to-maturity | 491 | |
Proceeds from foreclosed assets held for sale | 9,671 | 7,426 |
Proceeds from sale of SBA Loans | 10,393 | 1,233 |
Purchases of premises and equipment, net | (2,425) | (434) |
Return of investment on cash value of life insurance | 592 | |
Net cash proceeds (paid) received - market acquisitions | 41,363 | |
Net cash provided by (used in) investing activities | (232,886) | (370,473) |
Financing Activities | ||
Net increase (decrease) in deposits, excluding deposits acquired | 381,206 | 274,439 |
Net increase (decrease) in securities sold under agreements to repurchase | 12,451 | (17,317) |
Net increase (decrease) in FHLB and other borrowed funds | (262,234) | (25,056) |
Proceeds from exercise of stock options | 646 | 1,164 |
Proceeds from issuance of subordinated notes | 297,201 | |
Repurchase of common stock | (10,280) | (8,842) |
Common stock issuance costs - market acquisitions | (195) | |
Tax benefits from stock options exercised | 1,148 | |
Dividends paid on common stock | (25,563) | (22,820) |
Net cash provided by (used in) financing activities | 393,232 | 202,716 |
Net change in cash and cash equivalents | 243,839 | (70,429) |
Cash and cash equivalents - beginning of year | 216,649 | 255,823 |
Cash and cash equivalents - end of period | $ 460,488 | $ 185,394 |
Nature of Operations and Summar
Nature of Operations and Summary of Significant Accounting Policies | 6 Months Ended |
Jun. 30, 2017 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Nature of Operations and Summary of Significant Accounting Policies | 1. Nature of Operations and Summary of Significant Accounting Policies Nature of Operations Home BancShares, Inc. (the “Company” or “HBI”) is a bank holding company headquartered in Conway, Arkansas. The Company is primarily engaged in providing a full range of banking services to individual and corporate customers through its wholly-owned community bank subsidiary – Centennial Bank (sometimes referred to as “Centennial” or the “Bank”). The Bank has branch locations in Arkansas, Florida, South Alabama and New York City. The Company is subject to competition from other financial institutions. The Company also is subject to the regulation of certain federal and state agencies and undergoes periodic examinations by those regulatory authorities. A summary of the significant accounting policies of the Company follows: Operating Segments Operating segments are components of an enterprise about which separate financial information is available that is evaluated regularly by the chief operating decision maker in deciding how to allocate resources and in assessing performance. The Bank is the only significant subsidiary upon which management makes decisions regarding how to allocate resources and assess performance. Each of the branches of the Bank provide a group of similar community banking services, including such products and services as commercial, real estate and consumer loans, time deposits, checking and savings accounts. The individual bank branches have similar operating and economic characteristics. While the chief decision maker monitors the revenue streams of the various products, services and branch locations, operations are managed and financial performance is evaluated on a Company-wide basis. Accordingly, all of the community banking services and branch locations are considered by management to be aggregated into one reportable operating segment, community banking. Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Material estimates that are particularly susceptible to significant change relate to the determination of the allowance for loan losses, the valuation of investment securities, the valuation of foreclosed assets and the valuations of assets acquired and liabilities assumed in business combinations. In connection with the determination of the allowance for loan losses and the valuation of foreclosed assets, management obtains independent appraisals for significant properties. Principles of Consolidation The consolidated financial statements include the accounts of HBI and its subsidiaries. Significant intercompany accounts and transactions have been eliminated in consolidation. Reclassifications Various items within the accompanying consolidated financial statements for previous years have been reclassified to provide more comparative information. These reclassifications had no effect on net earnings or stockholders’ equity. Interim financial information The accompanying unaudited consolidated financial statements as of June 30, 2017 and 2016 have been prepared in condensed format, and therefore do not include all of the information and footnotes required by accounting principles generally accepted in the United States of America for complete financial statements. The information furnished in these interim statements reflects all adjustments which are, in the opinion of management, necessary for a fair statement of the results for each respective period presented. Such adjustments are of a normal recurring nature. The results of operations in the interim statements are not necessarily indicative of the results that may be expected for any other quarter or for the full year. The interim financial information should be read in conjunction with the consolidated financial statements and notes thereto included in the Company’s 2016 Form 10-K, Earnings per Share Basic earnings per share is computed based on the weighted-average number of shares outstanding during each year. Diluted earnings per share is computed using the weighted-average shares and all potential dilutive shares outstanding during the period. The following table sets forth the computation of basic and diluted earnings per share (“EPS”) for the following periods: Three Months Ended June 30, Six Months Ended June 30, 2017 2016 2017 2016 (In thousands) Net income $ 50,097 $ 43,509 $ 96,953 $ 84,936 Average shares outstanding 143,282 140,382 142,538 140,386 Effect of common stock options 834 226 732 281 Average diluted shares outstanding 144,116 140,608 143,270 140,667 Basic earnings per share $ 0.35 $ 0.31 $ 0.68 $ 0.61 Diluted earnings per share $ 0.35 $ 0.31 $ 0.68 $ 0.60 |
Business Combinations
Business Combinations | 6 Months Ended |
Jun. 30, 2017 | |
Business Combinations [Abstract] | |
Business Combinations | 2. Business Combinations Acquisition of Giant Holdings, Inc. On February 23, 2017, the Company completed its acquisition of Giant Holdings, Inc. (“GHI”), parent company of Landmark Bank, N.A. (“Landmark”), pursuant to a previously announced definitive agreement and plan of merger whereby GHI merged with and into HBI and, immediately thereafter, Landmark merged with and into Centennial. The Company paid a purchase price to the GHI shareholders of approximately $96.0 million for the GHI acquisition. Under the terms of the agreement, shareholders of GHI received 2,738,038 shares of its common stock valued at approximately $77.5 million as of February 23, 2017, plus approximately $18.5 million in cash in exchange for all outstanding shares of GHI common stock. GHI formerly operated six branch locations in the Ft. Lauderdale, Florida area. Including the effects of the purchase accounting adjustments, as of acquisition date, GHI had approximately $398.1 million in total assets, $327.8 million in loans after $8.1 million of loan discounts, and $304.0 million in deposits. The Company has determined that the acquisition of the net assets of GHI constitutes a business combination as defined by the ASC Topic 805. Accordingly, the assets acquired and liabilities assumed are presented at their fair values as required. Fair values were determined based on the requirements of ASC Topic 820. In many cases, the determination of these fair values required management to make estimates about discount rates, future expected cash flows, market conditions and other future events that are highly subjective in nature and subject to change. The following schedule is a breakdown of the assets acquired and liabilities assumed as of the acquisition date: Giant Holdings, Inc. Acquired from GHI Fair Value As Recorded by HBI (Dollars in thousands) Assets Cash and due from banks $ 41,019 $ — $ 41,019 Interest-bearing deposits with other banks 4,057 1 4,058 Investment securities 1,961 (5 ) 1,956 Loans receivable 335,886 (6,517 ) 329,369 Allowance for loan losses (4,568 ) 4,568 — Loans receivable, net 331,318 (1,949 ) 329,369 Bank premises and equipment, net 2,111 608 2,719 Cash value of life insurance 10,861 — 10,861 Accrued interest receivable 850 — 850 Deferred tax asset 2,286 1,807 4,093 Core deposit intangible 172 3,238 3,410 Other assets 254 (489 ) (235 ) Total assets acquired $ 394,889 $ 3,211 $ 398,100 Liabilities Deposits Demand and non-interest-bearing $ 75,993 $ — $ 75,993 Savings and interest-bearing transaction accounts 139,459 — 139,459 Time deposits 88,219 324 88,543 Total deposits 303,671 324 303,995 FHLB borrowed funds 26,047 431 26,478 Accrued interest payable and other liabilities 14,552 18 14,570 Total liabilities assumed 344,270 773 345,043 Equity Total equity assumed 50,619 (50,619 ) — Total liabilities and equity assumed $ 394,889 $ (49,846 ) 345,043 Net assets acquired 53,057 Purchase price 96,015 Goodwill $ 42,958 The following is a description of the methods used to determine the fair values of significant assets and liabilities presented above: Cash and due from banks and interest-bearing deposits with other banks Investment securities Loans The Company evaluated $315.6 million of the loans purchased in conjunction with the acquisition in accordance with the provisions of FASB ASC Topic 310-20, Nonrefundable Fees and Other Costs, 310-30, Loans and Debt Securities Acquired with Deteriorated Credit Quality, Bank premises and equipment Cash value of life insurance Accrued interest receivable Deferred tax asset Core deposit intangible Deposits FHLB borrowed funds Accrued interest payable and other liabilities The Company’s operating results for the period ended June 30, 2017, include the operating results of the acquired assets and assumed liabilities subsequent to the acquisition date. Due to the fair value adjustments recorded and the fact GHI total assets acquired are less than 5% of total assets as of June 30, 2017 excluding GHI as recorded by HBI as of acquisition date, historical results are not believed to be material to the Company’s results, and thus no pro-forma Acquisition of The Bank of Commerce On February 28, 2017, HBI completed its previously announced acquisition of all of the issued and outstanding shares of common stock of The Bank of Commerce, a Florida state-chartered bank that operated in the Sarasota, Florida area (“BOC”), pursuant to an acquisition agreement, dated December 1, 2016, by and between HBI and Bank of Commerce Holdings, Inc. (“BCHI”), parent company of BOC. HBI merged BOC with and into Centennial effective as of the close of business on February 28, 2017. The acquisition of BOC was conducted in accordance with the provisions of Section 363 of the United States Bankruptcy Code (the “Bankruptcy Code”) pursuant to a voluntary petition for relief under Chapter 11 of the Bankruptcy Code filed by BCHI with the United States Bankruptcy Court for the Middle District of Florida (the “Bankruptcy Court”). The sale of BOC by BCHI was subject to certain bidding procedures approved by the Bankruptcy Court. On November 14, 2016, the Company submitted an initial bid to purchase the outstanding shares of BOC in accordance with the bidding procedures approved by the Bankruptcy Court. An auction was subsequently conducted on November 16, 2016, and the Company was deemed to be the successful bidder. The Bankruptcy Court entered a final order on December 9, 2016 approving the sale of BOC to the Company pursuant to and in accordance with the acquisition agreement. Under the terms of the acquisition agreement, HBI paid an aggregate of approximately $4.2 million in cash for the acquisition, which included the purchase of all outstanding shares of BOC common stock, the discounted purchase of certain subordinated debentures issued by BOC from the existing holders of the subordinated debentures, and an expense reimbursement to BCHI for approved administrative claims in connection with the bankruptcy proceeding. BOC formerly operated three branch locations in the Sarasota, Florida area. Including the effects of the purchase accounting adjustments, as of acquisition date, BOC had approximately $178.1 million in total assets, $118.5 million in loans after $5.8 million of loan discounts, and $139.8 million in deposits. The Company has determined that the acquisition of the net assets of BOC constitutes a business combination as defined by the ASC Topic 805. Accordingly, the assets acquired and liabilities assumed are presented at their fair values as required. Fair values were determined based on the requirements of ASC Topic 820. In many cases, the determination of these fair values required management to make estimates about discount rates, future expected cash flows, market conditions and other future events that are highly subjective in nature and subject to change. The following schedule is a breakdown of the assets acquired and liabilities assumed as of the acquisition date: The Bank of Commerce Acquired from BOC Fair Value As Recorded by HBI (Dollars in thousands) Assets Cash and due from banks $ 4,610 $ — $ 4,610 Interest-bearing deposits with other banks 14,360 — 14,360 Investment securities 25,926 (113 ) 25,813 Loans receivable 124,289 (5,751 ) 118,538 Allowance for loan losses (2,037 ) 2,037 — Loans receivable, net 122,252 (3,714 ) 118,538 Bank premises and equipment, net 1,887 — 1,887 Foreclosed assets held for sale 8,523 (3,165 ) 5,358 Accrued interest receivable 481 — 481 Deferred tax asset 4,198 4,198 Core deposit intangible — 968 968 Other assets 1,880 — 1,880 Total assets acquired $ 179,919 $ (1,826 ) $ 178,093 Liabilities Deposits Demand and non-interest-bearing $ 27,245 $ — $ 27,245 Savings and interest-bearing transaction accounts 32,300 — 32,300 Time deposits 79,945 270 80,215 Total deposits 139,490 270 139,760 FHLB borrowed funds 30,000 42 30,042 Accrued interest payable and other liabilities 564 (255 ) 309 Total liabilities assumed $ 170,054 $ 57 170,111 Net assets acquired 7,982 Purchase price 4,175 Pre-tax $ 3,807 The following is a description of the methods used to determine the fair values of significant assets and liabilities presented above: Cash and due from banks and interest-bearing deposits with other banks Investment securities Loans The Company evaluated $106.8 million of the loans purchased in conjunction with the acquisition in accordance with the provisions of FASB ASC Topic 310-20, Nonrefundable Fees and Other Costs, 310-30, Loans and Debt Securities Acquired with Deteriorated Credit Quality, Bank premises and equipment Foreclosed assets held for sale Accrued interest receivable Deferred tax asset Core deposit intangible Deposits FHLB borrowed funds Accrued interest payable and other liabilities The Company’s operating results for the period ended June 30, 2017, include the operating results of the acquired assets and assumed liabilities subsequent to the acquisition date. Due to the fair value adjustments recorded and the fact BOC total assets acquired are less than 5% of total assets as of June 30, 2017 excluding BOC as recorded by HBI as of acquisition date, historical results are not believed to be material to the Company’s results, and thus no pro-forma Future Acquisition of Stonegate Bank On March 27, 2017, the Company and Centennial, entered into a definitive agreement and plan of merger with Stonegate Bank (“Stonegate”). The acquisition agreement provides that Stonegate will merge with and into Centennial (the “Merger”). Under the terms of the merger agreement, shareholders of Stonegate will receive, in the aggregate, proceeds from the transaction of approximately $749.8 million, consisting of $50.0 million in cash and $699.7 million of HBI common stock. In addition, the holders of outstanding stock options of Stonegate will receive approximately $28.6 million in cash in connection with the cancellation of their options immediately before the Merger, for a total transaction value of approximately $778.4 million. The number of shares of HBI common stock to be issued to Stonegate shareholders will be determined based on the volume-weighted average closing price per share of HBI common stock for the 20 consecutive trading days ending on the third trading day prior to the closing date (the “Average Closing Price”). In addition, if the Average Closing Price of HBI common stock as of the closing date is equal to $35.19 or greater or $22.52 or less, then the Average Closing Price will be fixed at $35.19 or $22.52, respectively. The acquisition is expected to close early in the fourth quarter of 2017, and is subject to the approval of the shareholders of the Company and Stonegate, regulatory approvals, and other customary conditions set forth in the agreement. As of June 30, 2017, Stonegate had approximately $3.13 billion in total assets, $2.44 billion in loans and $2.62 billion in customer deposits. Stonegate is conducting banking business from 24 locations in key Florida markets with significant presence in Broward and Sarasota counties. |
Investment Securities
Investment Securities | 6 Months Ended |
Jun. 30, 2017 | |
Text Block [Abstract] | |
Investment Securities | 3. Investment Securities The amortized cost and estimated fair value of investment securities that are classified as available-for-sale held-to-maturity June 30, 2017 Available-for-Sale Amortized Gross Gross Estimated (In thousands) U.S. government-sponsored enterprises $ 354,594 $ 2,544 $ (461 ) $ 356,677 Residential mortgage-backed securities 335,446 1,284 (923 ) 335,807 Commercial mortgage-backed securities 426,988 2,323 (1,259 ) 428,052 State and political subdivisions 236,216 5,318 (610 ) 240,924 Other securities 36,586 2,760 (375 ) 38,971 Total $ 1,389,830 $ 14,229 $ (3,628 ) $ 1,400,431 Held-to-Maturity Amortized Gross Gross Estimated (In thousands) U.S. government-sponsored enterprises $ 6,212 $ 41 $ — $ 6,253 Residential mortgage-backed securities 64,462 276 (130 ) 64,608 Commercial mortgage-backed securities 20,648 301 (6 ) 20,943 State and political subdivisions 162,839 4,039 — 166,878 Total $ 254,161 $ 4,657 $ (136 ) $ 258,682 December 31, 2016 Available-for-Sale Amortized Gross Gross Estimated (In thousands) U.S. government-sponsored enterprises $ 237,439 $ 963 $ (1,641 ) $ 236,761 Residential mortgage-backed securities 259,037 1,226 (1,627 ) 258,636 Commercial mortgage-backed securities 322,316 845 (2,342 ) 320,819 State and political subdivisions 215,209 3,471 (2,181 ) 216,499 Other securities 38,261 2,603 (659 ) 40,205 Total $ 1,072,262 $ 9,108 $ (8,450 ) $ 1,072,920 Held-to-Maturity Amortized Gross Gross Estimated (In thousands) U.S. government-sponsored enterprises $ 6,637 $ 23 $ (32 ) $ 6,628 Residential mortgage-backed securities 71,956 267 (301 ) 71,922 Commercial mortgage-backed securities 35,863 107 (133 ) 35,837 State and political subdivisions 169,720 3,100 (169 ) 172,651 Total $ 284,176 $ 3,497 $ (635 ) $ 287,038 Assets, principally investment securities, having a carrying value of approximately $1.40 billion and $1.07 billion at June 30, 2017 and December 31, 2016, respectively, were pledged to secure public deposits and for other purposes required or permitted by law. Also, investment securities pledged as collateral for repurchase agreements totaled approximately $133.7 million and $121.3 million at June 30, 2017 and December 31, 2016, respectively. The amortized cost and estimated fair value of securities classified as available-for-sale held-to-maturity Available-for-Sale Held-to-Maturity Amortized Estimated Amortized Estimated Cost Fair Value Cost Fair Value (In thousands) Due in one year or less $ 164,728 $ 167,278 $ 57,697 $ 59,065 Due after one year through five years 892,526 898,424 122,334 124,901 Due after five years through ten years 240,776 242,080 17,895 18,214 Due after ten years 91,800 92,649 56,235 56,502 Total $ 1,389,830 $ 1,400,431 $ 254,161 $ 258,682 For purposes of the maturity tables, mortgage-backed securities, which are not due at a single maturity date, have been allocated over maturity groupings based on anticipated maturities. The mortgage-backed securities may mature earlier than their weighted-average contractual maturities because of principal prepayments. During the three and six-month available-for-sale six-month During the three and six-month available-for-sale six-month During the three and six-month held-to-maturity held-to-maturity six-month The Company evaluates all securities quarterly to determine if any unrealized losses are deemed to be other than temporary. In completing these evaluations the Company follows the requirements of FASB ASC 320, Investments - Debt and Equity Securities. During the three and six-month For the six months ended June 30, 2017, the Company had investment securities with approximately $1.4 million in unrealized losses, which have been in continuous loss positions for more than twelve months. Excluding impairment write downs taken in prior periods, the Company’s assessments indicated that the cause of the market depreciation was primarily the change in interest rates and not the issuer’s financial condition, or downgrades by rating agencies. In addition, 75.3% of the Company’s investment portfolio matures in five years or less. As a result, the Company has the ability and intent to hold such securities until maturity. The following shows gross unrealized losses and estimated fair value of investment securities classified as available-for-sale held-to-maturity June 30, 2017 Less Than 12 Months 12 Months or More Total Fair Unrealized Fair Unrealized Fair Unrealized Value Losses Value Losses Value Losses (In thousands) U.S. government-sponsored enterprises $ 51,957 $ (283 ) $ 39,341 $ (178 ) $ 91,298 $ (461 ) Residential mortgage-backed securities 158,147 (716 ) 22,917 (337 ) 181,064 (1,053 ) Commercial mortgage-backed securities 125,079 (764 ) 38,801 (501 ) 163,880 (1,265 ) State and political subdivisions 31,058 (591 ) 1,698 (19 ) 32,756 (610 ) Other securities 1,581 (35 ) 8,395 (340 ) 9,976 (375 ) Total $ 367,822 $ (2,389 ) $ 111,152 $ (1,375 ) $ 478,974 $ (3,764 ) December 31, 2016 Less Than 12 Months 12 Months or More Total Fair Unrealized Fair Unrealized Fair Unrealized Value Losses Value Losses Value Losses (In thousands) U.S. government-sponsored enterprises $ 98,180 $ (1,031 ) $ 75,044 $ (642 ) $ 173,224 $ (1,673 ) Residential mortgage-backed securities 188,117 (1,742 ) 8,902 (186 ) 197,019 (1,928 ) Commercial mortgage-backed securities 202,289 (2,220 ) 21,020 (255 ) 223,309 (2,475 ) State and political subdivisions 94,309 (2,348 ) 500 (2 ) 94,809 (2,350 ) Other securities 1,540 (125 ) 12,687 (534 ) 14,227 (659 ) Total $ 584,435 $ (7,466 ) $ 118,153 $ (1,619 ) $ 702,588 $ (9,085 ) Income earned on securities for the three and six months ended June 30, 2017 and 2016, is as follows: Three Months Ended June 30, Six Months Ended June 30, 2017 2016 2017 2016 (In thousands) Taxable: Available-for-sale $ 5,680 $ 4,344 $ 10,474 $ 8,911 Held-to-maturity 754 801 1,438 1,684 Non-taxable: Available-for-sale 1,583 1,565 3,130 3,139 Held-to-maturity 1,383 1,258 2,780 2,499 Total $ 9,400 $ 7,968 $ 17,822 $ 16,233 |
Loans Receivable
Loans Receivable | 6 Months Ended |
Jun. 30, 2017 | |
Receivables [Abstract] | |
Loans Receivable | 4. Loans Receivable The various categories of loans receivable are summarized as follows: June 30, December 31, 2017 2016 (In thousands) Real estate: Commercial real estate loans Non-farm/non-residential $ 3,368,663 $ 3,153,121 Construction/land development 1,315,309 1,135,843 Agricultural 78,260 77,736 Residential real estate loans Residential 1-4 1,513,888 1,356,136 Multifamily residential 398,781 340,926 Total real estate 6,674,901 6,063,762 Consumer 38,424 41,745 Commercial and industrial 994,827 1,123,213 Agricultural 69,697 74,673 Other 56,626 84,306 Total loans receivable $ 7,834,475 $ 7,387,699 During the three and six-month six-month Mortgage loans held for sale of approximately $45.8 million and $56.2 million at June 30, 2017 and December 31, 2016, respectively, are included in residential 1-4 The Company had $1.36 billion of purchased loans, which includes $95.6 million of discount for credit losses on purchased loans, at June 30, 2017. The Company had $37.6 million and $58.0 million remaining of non-accretable discount for credit losses on purchased loans and accretable discount for credit losses on purchased loans, respectively, as of June 30, 2017. The Company had $1.13 billion of purchased loans, which includes $100.1 million of discount for credit losses on purchased loans, at December 31, 2016. The Company had $35.3 million and $64.9 million remaining of non-accretable discount for credit losses on purchased loans and accretable discount for credit losses on purchased loans, respectively, as of December 31, 2016. |
Allowance for Loan Losses, Cred
Allowance for Loan Losses, Credit Quality and Other | 6 Months Ended |
Jun. 30, 2017 | |
Text Block [Abstract] | |
Allowance for Loan Losses, Credit Quality and Other | 5. Allowance for Loan Losses, Credit Quality and Other The following table presents a summary of changes in the allowance for loan losses: Six Months Ended June 30, 2017 (In thousands) Allowance for loan losses: Beginning balance $ 80,002 Loans charged off (6,111 ) Recoveries of loans previously charged off 1,946 Net loans recovered (charged off) (4,165 ) Provision for loan losses 4,301 Balance, June 30, 2017 $ 80,138 The following tables present the balance in the allowance for loan losses for the three and six-month Three Months Ended June 30, 2017 Construction/ Land Other Commercial Residential Real Estate Commercial & Industrial Consumer & Other Unallocated Total (In thousands) Allowance for loan losses: Beginning balance $ 12,073 $ 28,923 $ 18,240 $ 13,384 $ 3,370 $ 4,321 $ 80,311 Loans charged off (119 ) (191 ) (397 ) (134 ) (564 ) — (1,405 ) Recoveries of loans previously charged off 28 379 121 70 247 — 845 Net loans recovered (charged off) (91 ) 188 (276 ) (64 ) (317 ) — (560 ) Provision for loan losses 860 (1,268 ) (249 ) (492 ) 10 1,526 387 Balance, June 30 $ 12,842 $ 27,843 $ 17,715 $ 12,828 $ 3,063 $ 5,847 $ 80,138 Six Months Ended June 30, 2017 Construction/ Land Other Commercial Residential Real Estate Commercial & Industrial Consumer & Other Unallocated Total (In thousands) Allowance for loan losses: Beginning balance $ 11,522 $ 28,188 $ 16,517 $ 12,756 $ 4,188 $ 6,831 $ 80,002 Loans charged off (326 ) (1,655 ) (2,288 ) (779 ) (1,063 ) — (6,111 ) Recoveries of loans previously charged off 227 710 254 252 503 — 1,946 Net loans recovered (charged off) (99 ) (945 ) (2,034 ) (527 ) (560 ) — (4,165 ) Provision for loan losses 1,419 600 3,232 599 (565 ) (984 ) 4,301 Balance, June 30 $ 12,842 $ 27,843 $ 17,715 $ 12,828 $ 3,063 $ 5,847 $ 80,138 As of June 30, 2017 Construction/ Land Other Commercial Residential Real Estate Commercial & Industrial Consumer & Other Unallocated Total (In thousands) Allowance for loan losses: Period end amount allocated to: Loans individually evaluated for impairment $ 121 $ 1,196 $ 228 $ 2,138 $ 8 $ — $ 3,691 Loans collectively evaluated for impairment 12,718 26,297 16,880 10,589 3,050 5,847 75,381 Loans evaluated for impairment balance, June 30 12,839 27,493 17,108 12,727 3,058 5,847 79,072 Purchased credit impaired loans 3 350 607 101 5 — 1,066 Balance, June 30 $ 12,842 $ 27,843 $ 17,715 $ 12,828 $ 3,063 $ 5,847 $ 80,138 Loans receivable: Period end amount allocated to: Loans individually evaluated for impairment $ 38,672 $ 52,656 $ 24,779 $ 10,031 $ 1,009 $ — $ 127,147 Loans collectively evaluated for impairment 1,260,049 3,306,528 1,841,046 972,024 161,069 — 7,540,716 Loans evaluated for impairment balance, June 30 1,298,721 3,359,184 1,865,825 982,055 162,078 — 7,667,863 Purchased credit impaired loans 16,588 87,739 46,844 12,772 2,669 — 166,612 Balance, June 30 $ 1,315,309 $ 3,446,923 $ 1,912,669 $ 994,827 $ 164,747 $ — $ 7,834,475 The following tables present the balances in the allowance for loan losses for the six-month Year Ended December 31, 2016 Construction/ Land Other Commercial Residential Real Estate Commercial & Industrial Consumer & Other Unallocated Total (In thousands) Allowance for loan losses: Beginning balance $ 10,782 $ 26,798 $ 14,818 $ 9,324 $ 5,016 $ 2,486 $ 69,224 Loans charged off (153 ) (1,849 ) (2,306 ) (3,036 ) (970 ) — (8,314 ) Recoveries of loans previously charged off 33 228 688 614 499 — 2,062 Net loans recovered (charged off) (120 ) (1,621 ) (1,618 ) (2,422 ) (471 ) — (6,252 ) Provision for loan losses 1,673 (329 ) 2,488 6,852 841 (156 ) 11,369 Balance, June 30 12,335 24,848 15,688 13,754 5,386 2,330 74,341 Loans charged off (229 ) (1,737 ) (3,291 ) (2,742 ) (1,188 ) — (9,187 ) Recoveries of loans previously charged off 1,092 629 464 4,919 505 — 7,609 Net loans recovered (charged off) 863 (1,108 ) (2,827 ) 2,177 (683 ) — (1,578 ) Provision for loan losses (1,676 ) 4,448 3,656 (3,175 ) (515 ) 4,501 7,239 Balance, December 31 $ 11,522 $ 28,188 $ 16,517 $ 12,756 $ 4,188 $ 6,831 $ 80,002 As of December 31, 2016 Construction/ Land Other Commercial Residential Real Estate Commercial & Industrial Consumer & Other Unallocated Total (In thousands) Allowance for loan losses: Period end amount allocated to: Loans individually evaluated for impairment $ 15 $ 1,416 $ 103 $ 95 $ — $ — $ 1,629 Loans collectively evaluated for impairment 11,463 25,641 15,796 12,596 4,176 6,831 76,503 Loans evaluated for impairment balance, December 31 11,478 27,057 15,899 12,691 4,176 6,831 78,132 Purchased credit impaired loans 44 1,131 618 65 12 — 1,870 Balance, December 31 $ 11,522 $ 28,188 $ 16,517 $ 12,756 $ 4,188 $ 6,831 $ 80,002 Loans receivable: Period end amount allocated to: Loans individually evaluated for impairment $ 12,374 $ 74,723 $ 35,187 $ 25,873 $ 1,096 $ — $ 149,253 Loans collectively evaluated for impairment 1,105,921 3,080,201 1,608,805 1,085,891 198,064 — 7,078,882 Loans evaluated for impairment balance, December 31 1,118,295 3,154,924 1,643,992 1,111,764 199,160 — 7,228,135 Purchased credit impaired loans 17,548 75,933 53,070 11,449 1,564 — 159,564 Balance, December 31 $ 1,135,843 $ 3,230,857 $ 1,697,062 $ 1,123,213 $ 200,724 $ — $ 7,387,699 The following is an aging analysis for loans receivable as of June 30, 2017 and December 31, 2016: June 30, 2017 Loans Past Due 30-59 Days Loans Past Due 60-89 Days Loans Past Due 90 Days or More Total Past Due Current Loans Total Loans Receivable Accruing Loans Past Due 90 Days or More (In thousands) Real estate: Commercial real estate loans Non-farm/non-residential $ 4,757 $ 914 $ 17,877 $ 23,548 $ 3,345,115 $ 3,368,663 $ 8,202 Construction/land development 5,962 72 5,541 11,575 1,303,734 1,315,309 3,176 Agricultural 346 — 114 460 77,800 78,260 — Residential real estate loans Residential 1-4 4,574 4,048 17,129 25,751 1,488,137 1,513,888 1,550 Multifamily residential — — 1,367 1,367 397,414 398,781 1,367 Total real estate 15,639 5,034 42,028 62,701 6,612,200 6,674,901 14,295 Consumer 133 58 138 329 38,095 38,424 6 Commercial and industrial 2,619 685 3,999 7,303 987,524 994,827 141 Agricultural and other 287 — 703 990 125,333 126,323 — Total $ 18,678 $ 5,777 $ 46,868 $ 71,323 $ 7,763,152 $ 7,834,475 $ 14,442 December 31, 2016 Loans Past Due 30-59 Days Loans Past Due 60-89 Days Loans Past Due 90 Days or More Total Past Due Current Loans Total Loans Receivable Accruing Loans Past Due 90 Days or More (In thousands) Real estate: Commercial real estate loans Non-farm/non-residential $ 2,036 $ 686 $ 27,518 $ 30,240 $ 3,122,881 $ 3,153,121 $ 9,530 Construction/land development 685 16 7,042 7,743 1,128,100 1,135,843 3,086 Agricultural — — 435 435 77,301 77,736 — Residential real estate loans Residential 1-4 6,972 1,287 23,307 31,566 1,324,570 1,356,136 2,996 Multifamily residential — — 262 262 340,664 340,926 — Total real estate 9,693 1,989 58,564 70,246 5,993,516 6,063,762 15,612 Consumer 117 66 161 344 41,401 41,745 21 Commercial and industrial 984 582 3,464 5,030 1,118,183 1,123,213 309 Agricultural and other 782 10 935 1,727 157,252 158,979 — Total $ 11,576 $ 2,647 $ 63,124 $ 77,347 $ 7,310,352 $ 7,387,699 $ 15,942 Non-accruing The following is a summary of the impaired loans as of June 30, 2017 and December 31, 2016: June 30, 2017 Three Months Ended Six Months Ended Unpaid Total Allocation of Allowance Average Interest Recognized Average Interest Recognized (In thousands) Loans without a specific valuation allowance Real estate: Commercial real estate loans Non-farm/non-residential $ 29 $ 29 $ — $ 15 $ — $ 19 $ 1 Construction/land development 23 23 — 12 — 8 1 Agricultural 37 — — — 1 — 1 Residential real estate loans Residential 1-4 201 201 — 101 3 144 6 Multifamily residential — — — — — — — Total real estate 290 253 — 128 4 171 9 Consumer 3 — — — — — — Commercial and industrial 17 81 — 41 — 68 1 Agricultural and other — — — — — — — Total loans without a specific valuation allowance 310 334 — 169 4 239 10 Loans with a specific valuation allowance Real estate: Commercial real estate loans Non-farm/non-residential 41,320 39,178 1,192 42,091 322 44,846 649 Construction/land development 10,315 9,481 121 10,110 69 9,272 135 Agricultural 77 117 4 138 1 238 3 Residential real estate loans Residential 1-4 21,260 20,745 214 23,230 77 24,045 181 Multifamily residential 1,841 1,655 14 1,100 28 917 32 Total real estate 74,813 71,176 1,545 76,669 497 79,318 1,000 Consumer 139 141 — 156 — 158 — Commercial and industrial 6,489 6,345 2,138 7,217 6 7,156 11 Agricultural and other 819 868 8 816 2 856 2 Total loans with a specific valuation allowance 82,260 78,530 3,691 84,858 505 87,488 1,013 Total impaired loans Real estate: Commercial real estate loans Non-farm/non-residential 41,349 39,207 1,192 42,106 322 44,865 650 Construction/land development 10,338 9,504 121 10,122 69 9,280 136 Agricultural 114 117 4 138 2 238 4 Residential real estate loans Residential 1-4 21,461 20,946 214 23,331 80 24,189 187 Multifamily residential 1,841 1,655 14 1,100 28 917 32 Total real estate 75,103 71,429 1,545 76,797 501 79,489 1,009 Consumer 142 141 — 156 — 158 — Commercial and industrial 6,506 6,426 2,138 7,258 6 7,224 12 Agricultural and other 819 868 8 816 2 856 2 Total impaired loans $ 82,570 $ 78,864 $ 3,691 $ 85,027 $ 509 $ 87,727 $ 1,023 Note 310-30. December 31, 2016 Unpaid Allocation Year Ended Contractual Total of Allowance Average Interest Recognized (In thousands) Loans without a specific valuation allowance Real estate: Commercial real estate loans Non-farm/non-residential $ 29 $ 29 $ — $ 23 $ 2 Construction/land development — — — 6 — Agricultural 40 — — — 2 Residential real estate loans Residential 1-4 231 231 — 119 15 Multifamily residential — — — 19 — Total real estate 300 260 — 167 19 Consumer — — — — — Commercial and industrial 124 124 — 64 8 Agricultural and other — — — — — Total loans without a specific valuation allowance 424 384 — 231 27 Loans with a specific valuation allowance Real estate: Commercial real estate loans Non-farm/non-residential 52,477 50,355 1,414 42,979 1,335 Construction/land development 8,313 7,595 15 12,878 334 Agricultural 395 438 2 469 — Residential real estate loans Residential 1-4 26,681 25,675 95 20,239 293 Multifamily residential 552 552 8 922 9 Total real estate 88,418 84,615 1,534 77,487 1,971 Consumer 165 161 — 223 3 Commercial and industrial 7,160 7,032 95 10,630 255 Agricultural and other 935 935 — 1,037 — Total loans with a specific valuation allowance 96,678 92,743 1,629 89,377 2,229 Total impaired loans Real estate: Commercial real estate loans Non-farm/non-residential 52,506 50,384 1,414 43,002 1,337 Construction/land development 8,313 7,595 15 12,884 334 Agricultural 435 438 2 469 2 Residential real estate loans Residential 1-4 26,912 25,906 95 20,358 308 Multifamily residential 552 552 8 941 9 Total real estate 88,718 84,875 1,534 77,654 1,990 Consumer 165 161 — 223 3 Commercial and industrial 7,284 7,156 95 10,694 263 Agricultural and other 935 935 — 1,037 — Total impaired loans $ 97,102 $ 93,127 $ 1,629 $ 89,608 $ 2,256 Note 310-30. Interest recognized on impaired loans during the three months ended June 30, 2017 and 2016 was approximately $509,000 and $532,000, respectively. Interest recognized on impaired loans during the six months ended June 30, 2017 and 2016 was approximately $1.0 million and $1.1 million, respectively. The amount of interest recognized on impaired loans on the cash basis is not materially different than the accrual basis. Credit Quality Indicators. on-going (iv) non-performing The Company utilizes a risk rating matrix to assign a risk rating to each of its loans. Loans are rated on a scale from 1 to 8. Descriptions of the general characteristics of the 8 risk ratings are as follows: • Risk rating 1 – Excellent. • Risk rating 2 – Good. • Risk rating 3 – Satisfactory. • Risk rating 4 – Watch. • Risk rating 5 – Other Loans Especially Mentioned (“OLEM”) • Risk rating 6 – Substandard. • Risk rating 7 – Doubtful. • Risk rating 8 – Loss. charged-off The Company’s classified loans include loans in risk ratings 6, 7 and 8. The following is a presentation of classified loans (excluding loans accounted for under ASC Topic 310-30) June 30, 2017 Risk Rated 6 Risk Rated 7 Risk Rated 8 Classified Total (In thousands) Real estate: Commercial real estate loans Non-farm/non-residential $ 27,479 $ 773 $ — $ 28,252 Construction/land development 12,381 105 — 12,486 Agricultural 426 — — 426 Residential real estate loans Residential 1-4 22,334 578 — 22,912 Multifamily residential 786 — — 786 Total real estate 63,406 1,456 — 64,862 Consumer 174 1 — 175 Commercial and industrial 15,421 84 — 15,505 Agricultural and other 708 — — 708 Total risk rated loans $ 79,709 $ 1,541 $ — $ 81,250 December 31, 2016 Risk Rated 6 Risk Rated 7 Risk Rated 8 Classified Total (In thousands) Real estate: Commercial real estate loans Non-farm/non-residential $ 43,657 $ 462 $ — $ 44,119 Construction/land development 8,619 33 — 8,652 Agricultural 759 — — 759 Residential real estate loans Residential 1-4 28,846 445 — 29,291 Multifamily residential 1,391 — — 1,391 Total real estate 83,272 940 — 84,212 Consumer 211 2 — 213 Commercial and industrial 16,991 170 — 17,161 Agricultural and other 935 — — 935 Total risk rated loans $ 101,409 $ 1,112 $ — $ 102,521 Loans may be classified, but not considered impaired, due to one of the following reasons: (1) The Company has established minimum dollar amount thresholds for loan impairment testing. All loans over $2.0 million that are rated 5 – 8 are individually assessed for impairment on a quarterly basis. Loans rated 5 – 8 that fall under the threshold amount are not individually tested for impairment and therefore are not included in impaired loans; (2) of the loans that are above the threshold amount and tested for impairment, after testing, some are considered to not be impaired and are not included in impaired loans. The following is a presentation of loans receivable by class and risk rating as of June 30, 2017 and December 31, 2016: June 30, 2017 Risk Rated 1 Risk Rated 2 Risk Rated 3 Risk Rated 4 Risk Rated 5 Classified Total Total (In thousands) Real estate: Commercial real estate loans Non-farm/non-residential $ 1,032 $ 578 $ 1,675,101 $ 1,538,389 $ 37,572 $ 28,252 $ 3,280,924 Construction/land development 33 838 193,881 1,063,218 28,265 12,486 1,298,721 Agricultural — 83 49,714 27,155 882 426 78,260 Residential real estate loans Residential 1-4 1,483 1,216 1,010,859 426,751 10,917 22,912 1,474,138 Multifamily residential — — 288,688 101,997 216 786 391,687 Total real estate 2,548 2,715 3,218,243 3,157,510 77,852 64,862 6,523,730 Consumer 12,681 162 15,872 8,384 51 175 37,325 Commercial and industrial 12,039 3,851 497,950 442,664 10,046 15,505 982,055 Agricultural and other 2,735 927 64,980 55,403 — 708 124,753 Total risk rated loans $ 30,003 $ 7,655 $ 3,797,045 $ 3,663,961 $ 87,949 $ 81,250 7,667,863 Purchased credit impaired loans 166,612 Total loans receivable $ 7,834,475 December 31, 2016 Risk Rated 1 Risk Rated 2 Risk Rated 3 Risk Rated 4 Risk Rated 5 Classified Total Total (In thousands) Real estate: Commercial real estate loans Non-farm/non-residential $ 1,047 $ 4,762 $ 1,568,385 $ 1,425,316 $ 33,559 $ 44,119 $ 3,077,188 Construction/land development 400 981 180,094 921,081 7,087 8,652 1,118,295 Agricultural — 157 53,753 22,238 829 759 77,736 Residential real estate loans Residential 1-4 2,336 1,683 941,760 324,045 10,360 29,291 1,309,475 Multifamily residential — — 278,514 45,742 8,870 1,391 334,517 Total real estate 3,783 7,583 3,022,506 2,738,422 60,705 84,212 5,917,211 Consumer 15,080 231 15,330 9,645 81 213 40,580 Commercial and industrial 13,117 3,644 500,220 558,413 19,209 17,161 1,111,764 Agricultural and other 3,379 976 82,641 70,649 — 935 158,580 Total risk rated loans $ 35,359 $ 12,434 $ 3,620,697 $ 3,377,129 $ 79,995 $ 102,521 7,228,135 Purchased credit impaired loans 159,564 Total loans receivable $ 7,387,699 The following is a presentation of troubled debt restructurings (“TDRs”) by class as of June 30, 2017 and December 31, 2016: June 30, 2017 Number of Loans Pre- Modification Rate Modification Term Modification Rate & Term Modification Post- (Dollars in thousands) Real estate: Commercial real estate loans Non-farm/non-residential 14 $ 17,017 $ 10,457 $ 256 $ 5,456 $ 16,169 Construction/land development 3 641 554 79 — 633 Agricultural 2 146 — 39 78 117 Residential real estate loans Residential 1-4 20 5,297 3,206 104 1,308 4,618 Multifamily residential 1 295 — — 288 288 Total real estate 40 23,396 14,217 478 7,130 21,825 Consumer 1 3 — 3 — 3 Commercial and industrial 6 359 237 75 5 317 Other 1 166 166 — — 166 Total 48 $ 23,924 $ 14,620 $ 556 $ 7,135 $ 22,311 December 31, 2016 Number of Loans Pre- Modification Rate Modification Term Modification Rate & Term Modification Post- (Dollars in thousands) Real estate: Commercial real estate loans Non-farm/non-residential 17 $ 21,344 $ 14,600 $ 263 $ 5,542 $ 20,405 Construction/land development 1 560 556 — — 556 Agricultural 2 146 — 43 80 123 Residential real estate loans Residential 1-4 21 5,179 2,639 124 1,017 3,780 Multifamily residential 1 295 — — 290 290 Total real estate 42 27,524 17,795 430 6,929 25,154 Commercial and industrial 6 395 237 115 10 362 Total 48 $ 27,919 $ 18,032 $ 545 $ 6,939 $ 25,516 The following is a presentation of TDRs on non-accrual June 30, 2017 December 31, 2016 Number of Loans Recorded Balance Number of Loans Recorded Balance (Dollars in thousands) Real estate: Commercial real estate loans Non-farm/non-residential — $ — 2 $ 696 Agricultural 2 117 2 123 Residential real estate loans Residential 1-4 8 962 13 2,240 Total real estate 10 1,079 17 3,059 Commercial and industrial 1 17 — — Total 11 $ 1,096 17 $ 3,059 The following is a presentation of total foreclosed assets as of June 30, 2017 and December 31, 2016: June 30, 2017 December 31, 2016 (In thousands) Commercial real estate loans Non-farm/non-residential $ 8,206 $ 9,423 Construction/land development 4,742 4,009 Agricultural — — Residential real estate loans Residential 1-4 4,321 2,076 Multifamily residential 1,520 443 Total foreclosed assets held for sale $ 18,789 $ 15,951 The following is a summary of the purchased credit impaired loans acquired in the GHI and BOC acquisitions during the first quarter of 2017 as of the date of acquisition: GHI BOC (In thousands) Contractually required principal and interest at acquisition $ 22,379 $ 18,586 Non-accretable difference (expected losses and foregone interest) 4,462 2,811 Cash flows expected to be collected at acquisition 17,917 15,775 Accretable yield 2,071 1,043 Basis in purchased credit impaired loans at acquisition $ 15,846 $ 14,732 Changes in the carrying amount of the accretable yield for purchased credit impaired loans were as follows for the six-month Accretable Yield Carrying (In thousands) Balance at beginning of period $ 38,212 $ 159,564 Reforecasted future interest payments for loan pools 1,913 — Accretion recorded to interest income (10,172 ) 10,172 Acquisitions of GHI and BOC 3,114 30,578 Adjustment to yield 1,699 — Transfers to foreclosed assets held for sale — (698 ) Payments received, net — (33,004 ) Balance at end of period $ 34,766 $ 166,612 The loan pools were evaluated by the Company and are currently forecasted to have a slower run-off During the 2017 impairment tests on the estimated cash flows of loans, the Company established that several loan pools were determined to have a materially projected credit improvement. As a result of this improvement, the Company will recognize approximately $1.7 million as an additional adjustment to yield over the weighted average life of the loans. |
Goodwill and Core Deposits and
Goodwill and Core Deposits and Other Intangibles | 6 Months Ended |
Jun. 30, 2017 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Goodwill and Core Deposits and Other Intangibles | 6. Goodwill and Core Deposits and Other Intangibles Changes in the carrying amount and accumulated amortization of the Company’s goodwill and core deposits and other intangibles at June 30, 2017 and December 31, 2016, were as follows: June 30, 2017 December 31, 2016 (In thousands) Goodwill Balance, beginning of period $ 377,983 $ 377,983 Acquisitions 42,958 — Balance, end of period $ 420,941 $ 377,983 June 30, 2017 December 31, 2016 (In thousands) Core Deposit and Other Intangibles Balance, beginning of period $ 18,311 $ 21,443 Acquisition 4,378 — Amortization expense (1,670 ) (1,608 ) Balance, June 30 $ 21,019 19,835 Amortization expense (1,524 ) Balance, end of year $ 18,311 The carrying basis and accumulated amortization of core deposits and other intangibles at June 30, 2017 and December 31, 2016 were: June 30, 2017 December 31, 2016 (In thousands) Gross carrying basis $ 55,756 $ 51,378 Accumulated amortization (34,737 ) (33,067 ) Net carrying amount $ 21,019 $ 18,311 Core deposit and other intangible amortization expense was approximately $866,000 and $763,000 for the three months ended June 30, 2017 and 2016, respectively. Core deposit and other intangible amortization expense was approximately $1.7 million and $1.6 million for the six months ended June 30, 2017 and 2016, respectively. Including all of the mergers completed as of June 30, 2017, the Company’s estimated amortization expense of core deposits and other intangibles for each of the years 2017 through 2021 is approximately: 2017 – $3.3 million; 2018 – $3.5 million; 2019 – $3.4 million; 2020 – $2.8 million; 2021 – $2.7 million. The carrying amount of the Company’s goodwill was $420.9 million and $378.0 million at June 30, 2017 and December 31, 2016, respectively. Goodwill is tested annually for impairment during the fourth quarter. If the implied fair value of goodwill is lower than its carrying amount, goodwill impairment is indicated and goodwill is written down to its implied fair value. Subsequent increases in goodwill value are not recognized in the consolidated financial statements. |
Other Assets
Other Assets | 6 Months Ended |
Jun. 30, 2017 | |
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract] | |
Other Assets | 7. Other Assets Other assets consists primarily of equity securities without a readily determinable fair value and other miscellaneous assets. As of June 30, 2017 and December 31, 2016 other assets were $136.5 million and $129.3 million, respectively. The Company has equity securities without readily determinable fair values. These equity securities are outside the scope of ASC Topic 320, Investments-Debt and Equity Securities |
Deposits
Deposits | 6 Months Ended |
Jun. 30, 2017 | |
Banking and Thrift [Abstract] | |
Deposits | 8. Deposits The aggregate amount of time deposits with a minimum denomination of $250,000 was $634.8 million and $569.1 million at June 30, 2017 and December 31, 2016, respectively. The aggregate amount of time deposits with a minimum denomination of $100,000 was $961.7 million and $842.9 million at June 30, 2017 and December 31, 2016, respectively. Interest expense applicable to certificates in excess of $100,000 totaled $1.9 million and $1.4 million for the three months ended June 30, 2017 and 2016, respectively. Interest expense applicable to certificates in excess of $100,000 totaled $3.6 million and $2.3 million for the six months ended June 30, 2017 and 2016, respectively. As of June 30, 2017 and December 31, 2016, brokered deposits were $634.4 million and $502.5 million, respectively. Deposits totaling approximately $1.20 billion and $1.23 billion at June 30, 2017 and December 31, 2016, respectively, were public funds obtained primarily from state and political subdivisions in the United States. |
Securities Sold Under Agreement
Securities Sold Under Agreements to Repurchase | 6 Months Ended |
Jun. 30, 2017 | |
Brokers and Dealers [Abstract] | |
Securities Sold Under Agreements to Repurchase | 9. Securities Sold Under Agreements to Repurchase At June 30, 2017 and December 31, 2016, securities sold under agreements to repurchase totaled $133.7 million and $121.3 million, respectively. For the three-month periods ended June 30, 2017 and 2016, securities sold under agreements to repurchase daily weighted-average totaled $128.7 million and $115.8 million, respectively. For the six-month The remaining contractual maturity of securities sold under agreements to repurchase in the consolidated balance sheets as of June 30, 2017 and December 31, 2016 is presented in the following tables: June 30, 2017 Overnight and Up to 30 Days 30-90 Days Greater than Total (In thousands) Securities sold under agreements to repurchase: U.S. government-sponsored enterprises $ 11,514 $ — $ — $ — $ 11,514 Mortgage-backed securities 18,420 — — — 18,420 State and political subdivisions 82,048 — — — 82,048 Other securities 21,759 — — — 21,759 Total borrowings $ 133,741 $ — $ — $ — $ 133,741 December 31, 2016 Overnight and Up to 30 Days 30-90 Days Greater than Total (In thousands) Securities sold under agreements to repurchase: U.S. government-sponsored enterprises $ 1,918 $ — $ — $ — $ 1,918 Mortgage-backed securities 22,691 — — — 22,691 State and political subdivisions 74,559 — — — 74,559 Other securities 22,122 — — — 22,122 Total borrowings $ 121,290 $ — $ — $ — $ 121,290 |
FHLB Borrowed Funds
FHLB Borrowed Funds | 6 Months Ended |
Jun. 30, 2017 | |
Banking and Thrift [Abstract] | |
FHLB Borrowed Funds | 10. FHLB Borrowed Funds The Company’s FHLB borrowed funds were $1.10 billion and $1.31 billion at June 30, 2017 and December 31, 2016, respectively. At June 30, 2017, $200.0 million and $899.5 million of the outstanding balance were issued as short-term and long-term advances, respectively. At December 31, 2016, $40.0 million and $1.27 billion of the outstanding balance were issued as short-term and long-term advances, respectively. The FHLB advances mature from the current year to 2025 with fixed interest rates ranging from 0.64% to 5.96% and are secured by loans and investments securities. Maturities of borrowings as of June 30, 2017 include: 2017 – $325.4 million; 2018 – $459.1 million; 2019 – $143.1 million; 2020 – $146.4 million; 2021 – zero; after 2021 – $25.4 million. Expected maturities will differ from contractual maturities because FHLB may have the right to call or HBI the right to prepay certain obligations. Additionally, the Company had $566.3 million and $516.2 million at June 30, 2017 and December 31, 2016, respectively, in letters of credit under a FHLB blanket borrowing line of credit, which are used to collateralize public deposits at June 30, 2017 and December 31, 2016, respectively. |
Other Borrowings
Other Borrowings | 6 Months Ended |
Jun. 30, 2017 | |
Debt Disclosure [Abstract] | |
Other Borrowings | 11. Other Borrowings The Company had zero other borrowings at June 30, 2017. The Company took out a $20.0 million line of credit for general corporate purposes during 2015, but the balance on this line of credit at June 30, 2017 and December 31, 2016 was zero. |
Subordinated Debentures
Subordinated Debentures | 6 Months Ended |
Jun. 30, 2017 | |
Brokers and Dealers [Abstract] | |
Subordinated Debentures | 12. Subordinated Debentures Subordinated debentures consists of subordinated debt securities and guaranteed payments on trust preferred securities. As of June 30, 2017 and December 31, 2016, subordinated debentures were $357.8 million and $60.8 million, respectively. Subordinated debentures at June 30, 2017 and December 31, 2016 contained the following components: As of June 30, As of (In thousands) Trust preferred securities Subordinated debentures, issued in 2006, due 2036, fixed rate of 6.75% during the first five years and at a floating rate of 1.85% above the three-month LIBOR rate, reset quarterly, thereafter, currently callable without penalty $ 3,093 $ 3,093 Subordinated debentures, issued in 2004, due 2034, fixed rate of 6.00% during the first five years and at a floating rate of 2.00% above the three-month LIBOR rate, reset quarterly, thereafter, currently callable without penalty 15,464 15,464 Subordinated debentures, issued in 2005, due 2035, fixed rate of 5.84% during the first five years and at a floating rate of 1.45% above the three-month LIBOR rate, reset quarterly, thereafter, currently callable without penalty 25,774 25,774 Subordinated debentures, issued in 2004, due 2034, fixed rate of 4.29% during the first five years and at a floating rate of 2.50% above the three-month LIBOR rate, reset quarterly, thereafter, currently callable without penalty 16,495 16,495 Subordinated debt securities Subordinated notes, net of issuance costs, issued in 2017, due 2027, fixed rate of 5.625% during the first five years and at a floating rate of 3.575% above the then three-month LIBOR rate, reset quarterly, thereafter, callable in 2022 without penalty 297,012 — Total $ 357,838 $ 60,826 Trust Preferred Securities tax-advantaged Subordinated Debt Securities Fixed-to-Floating The Company may, beginning with the interest payment date of April 15, 2022, and on any interest payment date thereafter, redeem the Notes, in whole or in part, at a redemption price equal to 100% of the principal amount of the Notes to be redeemed plus accrued and unpaid interest to but excluding the date of redemption. The Company may also redeem the Notes at any time, including prior to April 15, 2022, at its option, in whole but not in part, if: (i) a change or prospective change in law occurs that could prevent the Company from deducting interest payable on the Notes for U.S. federal income tax purposes; (ii) a subsequent event occurs that could preclude the Notes from being recognized as Tier 2 capital for regulatory capital purposes; or (iii) the Company is required to register as an investment company under the Investment Company Act of 1940, as amended; in each case, at a redemption price equal to 100% of the principal amount of the Notes plus any accrued and unpaid interest to but excluding the redemption date. The Notes provide the Company with additional Tier 2 regulatory capital to support expected future growth. |
Income Taxes
Income Taxes | 6 Months Ended |
Jun. 30, 2017 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | 13. Income Taxes The following is a summary of the components of the provision (benefit) for income taxes for the three and six-month Three Months Ended June 30, Six Months Ended June 30, 2017 2016 2017 2016 (In thousands) Current: Federal $ 29,278 $ 17,488 $ 48,669 $ 37,693 State 5,815 3,474 9,667 7,487 Total current 35,093 20,962 58,336 45,180 Deferred: Federal (4,014 ) 4,224 (2,236 ) 4,661 State (797 ) 839 (444 ) 926 Total deferred (4,811 ) 5,063 (2,680 ) 5,587 Income tax expense $ 30,282 $ 26,025 $ 55,656 $ 50,767 The reconciliation between the statutory federal income tax rate and effective income tax rate is as follows for the three and six-month Three Months Ended Six Months Ended June 30, 2017 2016 2017 2016 Statutory federal income tax rate 35.00 % 35.00 % 35.00 % 35.00 % Effect of non-taxable (1.36 ) (1.54 ) (1.43 ) (1.58 ) Effect of gain on acquisitions — — (0.87 ) — Stock compensation (0.07 ) — (0.55 ) — State income taxes, net of federal benefit 4.12 4.06 4.03 4.07 Other (0.02 ) (0.09 ) 0.29 (0.08 ) Effective income tax rate 37.67 % 37.43 % 36.47 % 37.41 % The types of temporary differences between the tax basis of assets and liabilities and their financial reporting amounts that give rise to deferred income tax assets and liabilities, and their approximate tax effects, are as follows: June 30, 2017 December 31, 2016 (In thousands) Deferred tax assets: Allowance for loan losses $ 31,649 $ 31,381 Deferred compensation 2,567 3,925 Stock compensation 3,121 669 Real estate owned 3,464 2,296 Loan discounts 20,119 9,157 Tax basis premium/discount on acquisitions 13,318 14,757 Investments 1,394 1,957 Other 8,001 8,361 Gross deferred tax assets 83,633 72,503 Deferred tax liabilities: Accelerated depreciation on premises and equipment 1,097 2,154 Unrealized gain on securities available-for-sale 4,159 258 Core deposit intangibles 6,065 4,950 FHLB dividends 1,926 1,926 Other 2,018 1,917 Gross deferred tax liabilities 15,265 11,205 Net deferred tax assets $ 68,368 $ 61,298 The Company and its subsidiaries file income tax returns in the U.S. federal jurisdiction and the states of Arkansas, Alabama, Florida and New York. The Company is no longer subject to U.S. federal and state tax examinations by tax authorities for years before 2012. |
Common Stock, Compensation Plan
Common Stock, Compensation Plans and Other | 6 Months Ended |
Jun. 30, 2017 | |
Equity [Abstract] | |
Common Stock, Compensation Plans and Other | 14. Common Stock, Compensation Plans and Other Common Stock The Company also has the authority to issue up to 5,500,000 shares of preferred stock, par value $0.01 per share under the Company’s Restated Articles of Incorporation. Stock Repurchases On January 20, 2017, the Company’s Board of Directors authorized the repurchase of up to an additional 5,000,000 shares of its common stock under the previously approved stock repurchase program, which brought the total amount of authorized shares to repurchase to 9,752,000 shares. During the first six months of 2017, the Company utilized a portion of this stock repurchase program. The following table sets forth information with respect to purchases made by or on behalf of the Company of shares of the Company’s common stock during the periods indicated: Period Number of Shares Purchased Average Price Paid Per Share Total Number of Shares Purchased as Part of Publicly or Programs Maximum Number of May Yet Be Under the Plans April1 through April 30, 2017 20,000 $ 25.80 20,000 6,064,936 May 1 through May 31, 2017 246,100 24.81 246,100 5,818,836 June 1 through June 30, 2017 153,900 23.86 153,900 5,664,936 Total 420,000 420,000 During first six months of 2017, the Company repurchased a total of 420,000 shares with a weighted-average stock price of $24.51 per share. The 2017 earnings were used to fund the repurchases during the year. Shares repurchased to date under the program total 4,087,064 shares. The remaining balance available for repurchase is 5,664,936 shares at June 30, 2017. Stock Compensation Plans The Company has a stock option and performance incentive plan known as the Amended and Restated 2006 Stock Option and Performance Incentive Plan (the “Plan”). The purpose of the Plan is to attract and retain highly qualified officers, directors, key employees, and other persons, and to motivate those persons to improve the Company’s business results. On April 21, 2016 at the Annual Meeting of Shareholders of the Company, the shareholders approved, as proposed in the Proxy Statement, an amendment to the Plan to increase the number of shares of the Company’s common stock available for issuance under the Plan by 2,000,000 shares to 11,288,000 shares (split adjusted). The Plan provides for the granting of incentive and non-qualified The intrinsic value of the stock options outstanding and stock options vested at June 30, 2017 was $20.6 million and $11.3 million, respectively. Total unrecognized compensation cost, net of income tax benefit, related to non-vested non-vested The table below summarizes the stock option transactions under the Plan at June 30, 2017 and December 31, 2016 and changes during the six-month For the Six Months For the Year Ended December 31, 2016 Shares (000) Weighted- Shares (000) Weighted- Outstanding, beginning of year 2,397 $ 15.19 2,794 $ 12.71 Granted 80 25.96 140 21.25 Forfeited/Expired — — (14 ) 17.28 Exercised (153 ) 7.53 (523 ) 3.50 Outstanding, end of period 2,324 16.07 2,397 15.19 Exercisable, end of period 897 $ 12.34 639 $ 8.88 Stock-based compensation expense for stock-based compensation awards granted is based on the grant-date fair value. For stock option awards, the fair value is estimated at the date of grant using the Black-Scholes option-pricing model. This model requires the input of highly subjective assumptions, changes to which can materially affect the fair value estimate. Additionally, there may be other factors that would otherwise have a significant effect on the value of employee stock options granted but are not considered by the model. Accordingly, while management believes that the Black-Scholes option-pricing model provides a reasonable estimate of fair value, the model does not necessarily provide the best single measure of fair value for the Company’s employee stock options. The weighted-average fair value of options granted during the six months ended June 30, 2017 was $7.10 per share. The weighted-average fair value of options granted during the year ended December 31, 2016 was $5.08 per share (split adjusted). The fair value of each option granted is estimated on the date of grant using the Black-Scholes option-pricing model based on the weighted-average assumptions for expected dividend yield, expected stock price volatility, risk-free interest rate, and expected life of options granted. For the Six Months Ended June 30, 2017 For the Year Ended December 31, 2016 Expected dividend yield 1.39 % 1.65 % Expected stock price volatility 28.47 % 26.66 % Risk-free interest rate 2.06 % 1.65 % Expected life of options 6.5 years 6.5 years The following is a summary of currently outstanding and exercisable options at June 30, 2017: Options Outstanding Options Exercisable Exercise Prices Options Outstanding Shares (000) Weighted- Average Remaining Weighted- Average Exercise Price Options Exercisable Shares (000) Weighted- Average Exercise Price $2.10 to $2.66 19 1.68 $ 2.55 19 $ 2.55 $4.27 to $4.62 91 0.55 4.28 91 4.28 $5.08 to $6.56 123 4.15 6.45 123 6.45 $8.62 to $9.54 284 5.68 9.09 224 9.08 $14.71 to $16.86 262 7.26 16.00 124 16.12 $17.12 to $17.40 215 7.43 17.19 94 17.21 $18.46 to $18.46 1,050 8.15 18.46 184 18.46 $20.16 to $20.58 80 8.27 20.37 14 20.34 $21.25 to $21.25 120 8.81 21.25 24 21.25 $25.96 to $25.96 80 9.81 25.96 — — 2,324 897 The table below summarized the activity for the Company’s restricted stock issued and outstanding at June 30, 2017 and December 31, 2016 and changes during the period and year then ended: As of June 30, 2017 As of December 31, 2016 (In thousands) Beginning of year 958 975 Issued 146 244 Vested (45 ) (256 ) Forfeited — (5 ) End of period 1,059 958 Amount of expense for six months and twelve months ended, respectively $ 2,569 $ 4,049 Total unrecognized compensation cost, net of income tax benefit, related to non-vested |
Non-Interest Expense
Non-Interest Expense | 6 Months Ended |
Jun. 30, 2017 | |
Text Block [Abstract] | |
Non-Interest Expense | 15. Non-Interest The table below shows the components of non-interest Three Months Ended June 30, Six Months Ended June 30, 2017 2016 2017 2016 (In thousands) Salaries and employee benefits $ 28,034 $ 25,437 $ 55,455 $ 49,395 Occupancy and equipment 7,034 6,509 13,715 13,180 Data processing expense 2,863 2,766 5,586 5,430 Other operating expenses: Advertising 812 733 1,510 1,556 Merger and acquisition expenses 789 — 7,516 — Amortization of intangibles 866 763 1,670 1,608 Electronic banking expense 1,654 1,237 3,173 2,693 Directors’ fees 324 289 637 564 Due from bank service charges 456 337 876 642 FDIC and state assessment 1,182 1,446 2,470 2,892 Insurance 543 544 1,121 1,077 Legal and accounting 474 658 1,101 1,181 Other professional fees 1,233 1,044 2,386 1,969 Operating supplies 477 419 944 855 Postage 295 260 581 546 Telephone 398 455 722 942 Other expense 3,569 4,690 6,681 8,705 Total other operating expenses 13,072 12,875 31,388 25,230 Total non-interest $ 51,003 $ 47,587 $ 106,144 $ 93,235 |
Significant Estimates and Conce
Significant Estimates and Concentrations of Credit Risks | 6 Months Ended |
Jun. 30, 2017 | |
Text Block [Abstract] | |
Significant Estimates and Concentrations of Credit Risks | 16. Significant Estimates and Concentrations of Credit Risks Accounting principles generally accepted in the United States of America require disclosure of certain significant estimates and current vulnerabilities due to certain concentrations. Estimates related to the allowance for loan losses and certain concentrations of credit risk are reflected in Note 5, while deposit concentrations are reflected in Note 8. The Company’s primary market areas are in Arkansas, Florida, South Alabama and New York. The Company primarily grants loans to customers located within these markets unless the borrower has an established relationship with the Company. The diversity of the Company’s economic base tends to provide a stable lending environment. Although the Company has a loan portfolio that is diversified in both industry and geographic area, a substantial portion of its debtors’ ability to honor their contracts is dependent upon real estate values, tourism demand and the economic conditions prevailing in its market areas. Although the Company has a diversified loan portfolio, at June 30, 2017 and December 31, 2016, commercial real estate loans represented 60.8% and 59.1% of total loans receivable, respectively, and 322.6% and 328.9% of total stockholders’ equity, respectively. Residential real estate loans represented 24.4% and 23.0% of total loans receivable and 129.6% and 127.8% of total stockholders’ equity at June 30, 2017 and December 31, 2016, respectively. Approximately 89.6% of the Company’s total loans and 90.7% of the Company’s real estate loans as of June 30, 2017, are to borrowers whose collateral is located in Alabama, Arkansas, Florida and New York, the states in which the Company has its branch locations. Although general economic conditions in the Company’s market areas have improved, both nationally and locally, over the past three years and have shown signs of continued improvement, financial institutions still face circumstances and challenges which, in some cases, have resulted and could potentially result, in large declines in the fair values of investments and other assets, constraints on liquidity and significant credit quality problems, including severe volatility in the valuation of real estate and other collateral supporting loans. The financial statements have been prepared using values and information currently available to the Company. Any future volatility in the economy could cause the values of assets and liabilities recorded in the financial statements to change rapidly, resulting in material future adjustments in asset values, the allowance for loan losses and capital that could negatively impact the Company’s ability to meet regulatory capital requirements and maintain sufficient liquidity. |
Commitments and Contingencies
Commitments and Contingencies | 6 Months Ended |
Jun. 30, 2017 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | 17. Commitments and Contingencies In the ordinary course of business, the Company makes various commitments and incurs certain contingent liabilities to fulfill the financing needs of their customers. These commitments and contingent liabilities include lines of credit and commitments to extend credit and issue standby letters of credit. The Company applies the same credit policies and standards as they do in the lending process when making these commitments. The collateral obtained is based on the assessed creditworthiness of the borrower. At June 30, 2017 and December 31, 2016, commitments to extend credit of $1.89 billion and $1.82 billion, respectively, were outstanding. A percentage of these balances are participated out to other banks; therefore, the Company can call on the participating banks to fund future draws. Since some of these commitments are expected to expire without being drawn upon, the total commitment amount does not necessarily represent future cash requirements. Outstanding standby letters of credit are contingent commitments issued by the Company, generally to guarantee the performance of a customer in third-party borrowing arrangements. The term of the guarantee is dependent upon the creditworthiness of the borrower, some of which are long-term. The amount of collateral obtained, if deemed necessary, is based on management’s credit evaluation of the counterparty. Collateral held varies but may include accounts receivable, inventory, property, plant and equipment, commercial real estate and residential real estate. Management uses the same credit policies in granting lines of credit as it does for on-balance-sheet The Company and/or its bank subsidiary have various unrelated legal proceedings, most of which involve loan foreclosure activity pending, which, in the aggregate, are not expected to have a material adverse effect on the financial position or results of operations or cash flows of the Company and its subsidiary. |
Regulatory Matters
Regulatory Matters | 6 Months Ended |
Jun. 30, 2017 | |
Banking and Thrift [Abstract] | |
Regulatory Matters | 18. Regulatory Matters The Bank is subject to a legal limitation on dividends that can be paid to the parent company without prior approval of the applicable regulatory agencies. Arkansas bank regulators have specified that the maximum dividend limit state banks may pay to the parent company without prior approval is 75% of the current year earnings plus 75% of the retained net earnings of the preceding year. Since the Bank is also under supervision of the Federal Reserve, it is further limited if the total of all dividends declared in any calendar year by the Bank exceeds the Bank’s net profits to date for that year combined with its retained net profits for the preceding two years. During the first six months of 2017, the Company requested approximately $38.1 million in regular dividends from its banking subsidiary. This dividend is equal to approximately 37.0% of the Company’s banking subsidiary’s year-to-date The Company’s banking subsidiary is subject to various regulatory capital requirements administered by the federal banking agencies. Failure to meet minimum capital requirements can initiate certain mandatory and possibly additional discretionary actions by regulators that, if undertaken, could have a direct material effect on the Company’s consolidated financial statements. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, the Company must meet specific capital guidelines that involve quantitative measures of the Company’s assets, liabilities and certain off-balance-sheet Quantitative measures established by regulation to ensure capital adequacy require the Company to maintain minimum amounts and ratios of total, common Tier 1 equity and Tier 1 capital (as defined in the regulations) to risk-weighted assets (as defined) and of Tier 1 capital (as defined) to average assets (as defined). Management believes that, as of June 30, 2017, the Company meets all capital adequacy requirements to which it is subject. The Federal Reserve Board’s risk-based capital guidelines include the definitions for (1) a well-capitalized institution, (2) an adequately-capitalized institution, and (3) an undercapitalized institution. Under Basel III, the criteria for a well-capitalized institution are now: a 6.5% “common equity Tier 1 risk-based capital” ratio, a 5% “Tier 1 leverage capital” ratio, an 8% “Tier 1 risk-based capital” ratio, and a 10% “total risk-based capital” ratio. As of June 30, 2017, the Bank met the capital standards for a well-capitalized institution. The Company’s “common equity Tier 1 risk-based capital” ratio, “Tier 1 leverage capital” ratio, “Tier 1 risk-based capital” ratio, and “total risk-based capital” ratio were 11.79%, 10.54%, 12.47%, and 16.78%, respectively, as of June 30, 2017. |
Additional Cash Flow Informatio
Additional Cash Flow Information | 6 Months Ended |
Jun. 30, 2017 | |
Supplemental Cash Flow Elements [Abstract] | |
Additional Cash Flow Information | 19. Additional Cash Flow Information In connection with the GHI acquisition, accounted for using the purchase method, the Company acquired approximately $398.1 million in assets, including $41.0 million in cash and cash equivalents, assumed $345.0 million in liabilities, issued 2,738,038 shares of its common stock valued at approximately $77.5 million as of February 23, 2017, and paid approximately $18.5 million in cash in exchange for all outstanding shares of GHI common stock. In connection with the BOC acquisition, accounted for using the purchase method, the Company acquired approximately $178.1 million in assets, including $4.6 million in cash and cash equivalents, assumed $170.1 million in liabilities, issued no equity and paid approximately $4.2 million in cash. As a result, the Company recorded a bargain purchase gain of $3.8 million. The following is a summary of the Company’s additional cash flow information during the six-month June 30, 2017 2016 (In thousands) Interest paid $ 20,491 $ 14,572 Income taxes paid 74,542 47,250 Assets acquired by foreclosure 9,137 6,440 |
Financial Instruments
Financial Instruments | 6 Months Ended |
Jun. 30, 2017 | |
Fair Value Disclosures [Abstract] | |
Financial Instruments | 20. Financial Instruments Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Fair value measurements must maximize the use of observable inputs and minimize the use of unobservable inputs. There is a hierarchy of three levels of inputs that may be used to measure fair value: Level 1 Quoted prices in active markets for identical assets or liabilities 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 Available-for-sale The Company reviews the prices supplied by the independent pricing service, as well as their underlying pricing methodologies, for reasonableness and to ensure such prices are aligned with traditional pricing matrices. In general, the Company does not purchase investment portfolio securities with complicated structures. Pricing for the Company’s investment securities is fairly generic and is easily obtained. Impaired loans that are collateral dependent are the only material financial assets valued on a non-recurring non-covered non-accrual non-covered non-accrual Foreclosed assets held for sale are the only material non-financial non-recurring Foreclosed assets held for sale with a carrying value of approximately $144,000 were remeasured during the six months ended June 30, 2017, resulting in a write-down of approximately $144,000. Regulatory guidelines require us to reevaluate the fair value of foreclosed assets held for sale on at least an annual basis. The Company’s policy is to comply with the regulatory guidelines. The significant unobservable (Level 3) inputs used in the fair value measurement of collateral for collateral-dependent impaired loans and foreclosed assets primarily relate to customized discounting criteria applied to the customer’s reported amount of collateral. The amount of the collateral discount depends upon the condition and marketability of the underlying collateral. As the Company’s primary objective in the event of default would be to monetize the collateral to settle the outstanding balance of the loan, less marketable collateral would receive a larger discount. During the reported periods, collateral discounts ranged from 20% to 50% for commercial and residential real estate collateral. Fair Values of Financial Instruments The following methods and assumptions were used by the Company in estimating fair values of financial instruments as disclosed in these notes: Cash and cash equivalents and federal funds sold Investment securities – held-to-maturity Loans receivable, net of impaired loans and allowance Accrued interest receivable — Deposits and securities sold under agreements to repurchase FHLB and other borrowed funds Accrued interest payable Subordinated debentures Commitments to extend credit, letters of credit and lines of credit The following table presents the estimated fair values of the Company’s financial instruments. The fair values of certain of these instruments were calculated by discounting expected cash flows, which involves significant judgments by management and uncertainties. Fair value is the estimated amount at which financial assets or liabilities could be exchanged in a current transaction between willing parties other than in a forced or liquidation sale. Because no market exists for certain of these financial instruments and because management does not intend to sell these financial instruments, the Company does not know whether the fair values shown below represent values at which the respective financial instruments could be sold individually or in the aggregate. June 30, 2017 Carrying Amount Fair Value Level (In thousands) Financial assets: Cash and cash equivalents $ 460,488 $ 460,488 1 Federal funds sold — — N/A Investment securities – held-to-maturity 254,161 258,682 2 Loans receivable, net of impaired loans and allowance 7,679,164 7,517,442 3 Accrued interest receivable 32,445 32,445 1 Financial liabilities: Deposits: Demand and non-interest $ 1,957,677 $ 1,957,677 1 Savings and interest-bearing transaction accounts 4,335,456 4,335,456 1 Time deposits 1,474,255 1,459,915 3 Federal funds purchased — — N/A Securities sold under agreements to repurchase 133,741 133,741 1 FHLB and other borrowed funds 1,099,478 1,100,398 2 Accrued interest payable 6,619 6,619 1 Subordinated debentures 357,838 357,838 3 December 31, 2016 Carrying Amount Fair Value Level (In thousands) Financial assets: Cash and cash equivalents $ 216,649 $ 216,649 1 Federal funds sold 1,550 1,550 1 Investment securities – held-to-maturity 284,176 287,038 2 Loans receivable, net of impaired loans and allowance 7,216,199 7,131,199 3 Accrued interest receivable 30,838 30,838 1 Financial liabilities: Deposits: Demand and non-interest $ 1,695,184 $ 1,695,184 1 Savings and interest-bearing transaction accounts 3,963,241 3,963,241 1 Time deposits 1,284,002 1,275,634 3 Securities sold under agreements to repurchase 121,290 121,290 1 FHLB and other borrowed funds 1,305,198 1,311,280 2 Accrued interest payable 1,920 1,920 1 Subordinated debentures 60,826 60,826 3 |
Recent Accounting Pronouncement
Recent Accounting Pronouncements | 6 Months Ended |
Jun. 30, 2017 | |
Accounting Changes and Error Corrections [Abstract] | |
Recent Accounting Pronouncements | 21. Recent Accounting Pronouncements In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers (Topic 606) 2014-09 No. 2015-14, Revenue from Contracts with Customers (Topic 606) 2016-10, Revenue from Contracts with Customers (Topic 606): Identifying Performance Obligations and Licensing 2014-09 2014-10’s 2014-09. 2016-12, Revenue from Contracts with Customers (Topic 606): Narrow-Scope Improvements and Practical Expedients 2014-09. 2016-12’s 2014-09 The guidance issued in ASU 2014-09, 2015-14, 2016-10 2016-12 In January 2016, the FASB issued ASU 2016-01, Financial Instruments - Overall (Subtopic 825-10): 2016-01 available-for-sale In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842). 2016-02 2016-02 2016-02 right-of-use 10-K In March 2016, the FASB issued ASU 2016-09, Compensation – Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting 2016-09 2016-09 paid-in 2016-09. In May 2016, the FASB issued ASU 2016-11, Revenue Recognition (Topic 605) and Derivatives and Hedging (Topic 815): Rescission of SEC Guidance Because of Accounting Standards Updates 2014-09 2014-16 3, 2016 EITF Meeting (SEC Update) 2016-11 2014-09 2014-16. 2016-11 In June 2016, the FASB issued ASU 2016-13, Measurement of Credit Losses on Financial Instruments 2016-13 2016-13 2016-13 held-to-maturity available-for-sale 2016-13 in-house In August 2016, the FASB issued ASU 2016-15, Classification of Certain Cash Receipts and Cash Payments, 2016-15 2016-15’s zero-coupon 2016-15 2016-15 In October 2016, the FASB issued ASU 2016-16, Income Taxes (Topic 740): Intra-Entity Transfers of Assets Other Than Inventory 2016-16 In November 2016, the FASB issued ASU 2016-18, Statement of Cash Flows (Topic 230): Restricted Cash (a consensus of the FASB Emerging Issues Task Force) 2016-18 In January 2017, the FASB issued ASU 2017-01, Business Combinations (Topic 805): Clarifying the Definition of a Business 2017-01 In January 2017, the FASB issued ASU 2017-03, Accounting Changes and Error Corrections (Topic 250) and Investments—Equity Method and Joint Ventures (Topic 323) 2016-02, Leases 2014-09, Revenue from Contracts with Customers In January 2017, the FASB issued ASU 2017-04, Intangibles - Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment more-likely-than-not In February 2017, the FASB issued ASU 2017-05, Other Income: Gains and Losses from the Derecognition of Nonfinancial Assets 610-20) in-substance 610-20-55-15 55-16. 2017-05 In March 2017, the FASB issued ASU 2017-08, Receivables - Nonrefundable Fees and Other Costs (Topic 310): Premium Amortization on Purchased Callable Debt Securities 2017-08 In May 2017, the FASB issued ASU 2017-09, Compensation - Stock Compensation (Topic 718): Scope of Modification Accounting 2017-09 2017-09 In July 2017, the FASB issued ASU 2017-11, Earnings Per Share (Topic 260), Distinguishing Liabilities from Equity (Topic 480) and Derivatives and Hedging (Topic 815): I. Accounting for Certain Financial Instruments with Down Round Features; II. Replacement of the Indefinite Deferral for Mandatorily Redeemable Financial Instruments of Certain Nonpublic Entities and Certain Mandatorily Redeemable Non-controlling Topic 480, Distinguishing Liabilities from Equity non-controlling 2017-11 |
Nature of Operations and Summ30
Nature of Operations and Summary of Significant Accounting Policies (Policies) | 6 Months Ended |
Jun. 30, 2017 | |
Operating Segments | Operating Segments Operating segments are components of an enterprise about which separate financial information is available that is evaluated regularly by the chief operating decision maker in deciding how to allocate resources and in assessing performance. The Bank is the only significant subsidiary upon which management makes decisions regarding how to allocate resources and assess performance. Each of the branches of the Bank provide a group of similar community banking services, including such products and services as commercial, real estate and consumer loans, time deposits, checking and savings accounts. The individual bank branches have similar operating and economic characteristics. While the chief decision maker monitors the revenue streams of the various products, services and branch locations, operations are managed and financial performance is evaluated on a Company-wide basis. Accordingly, all of the community banking services and branch locations are considered by management to be aggregated into one reportable operating segment, community banking. |
Use of Estimates | Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Material estimates that are particularly susceptible to significant change relate to the determination of the allowance for loan losses, the valuation of investment securities, the valuation of foreclosed assets and the valuations of assets acquired and liabilities assumed in business combinations. In connection with the determination of the allowance for loan losses and the valuation of foreclosed assets, management obtains independent appraisals for significant properties. |
Principles of Consolidation | Principles of Consolidation The consolidated financial statements include the accounts of HBI and its subsidiaries. Significant intercompany accounts and transactions have been eliminated in consolidation. |
Reclassifications | Reclassifications Various items within the accompanying consolidated financial statements for previous years have been reclassified to provide more comparative information. These reclassifications had no effect on net earnings or stockholders’ equity. |
Interim financial information | Interim financial information The accompanying unaudited consolidated financial statements as of June 30, 2017 and 2016 have been prepared in condensed format, and therefore do not include all of the information and footnotes required by accounting principles generally accepted in the United States of America for complete financial statements. The information furnished in these interim statements reflects all adjustments which are, in the opinion of management, necessary for a fair statement of the results for each respective period presented. Such adjustments are of a normal recurring nature. The results of operations in the interim statements are not necessarily indicative of the results that may be expected for any other quarter or for the full year. The interim financial information should be read in conjunction with the consolidated financial statements and notes thereto included in the Company’s 2016 Form 10-K, filed with the Securities and Exchange Commission. |
Earnings per Share | Earnings per Share Basic earnings per share is computed based on the weighted-average number of shares outstanding during each year. Diluted earnings per share is computed using the weighted-average shares and all potential dilutive shares outstanding during the period. The following table sets forth the computation of basic and diluted earnings per share (“EPS”) for the following periods: Three Months Ended June 30, Six Months Ended June 30, 2017 2016 2017 2016 (In thousands) Net income $ 50,097 $ 43,509 $ 96,953 $ 84,936 Average shares outstanding 143,282 140,382 142,538 140,386 Effect of common stock options 834 226 732 281 Average diluted shares outstanding 144,116 140,608 143,270 140,667 Basic earnings per share $ 0.35 $ 0.31 $ 0.68 $ 0.61 Diluted earnings per share $ 0.35 $ 0.31 $ 0.68 $ 0.60 |
Fair Value Measurement | Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Fair value measurements must maximize the use of observable inputs and minimize the use of unobservable inputs. There is a hierarchy of three levels of inputs that may be used to measure fair value: Level 1 Quoted prices in active markets for identical assets or liabilities 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 Available-for-sale The Company reviews the prices supplied by the independent pricing service, as well as their underlying pricing methodologies, for reasonableness and to ensure such prices are aligned with traditional pricing matrices. In general, the Company does not purchase investment portfolio securities with complicated structures. Pricing for the Company’s investment securities is fairly generic and is easily obtained. Impaired loans that are collateral dependent are the only material financial assets valued on a non-recurring non-covered non-accrual non-covered non-accrual Foreclosed assets held for sale are the only material non-financial non-recurring Foreclosed assets held for sale with a carrying value of approximately $144,000 were remeasured during the six months ended June 30, 2017, resulting in a write-down of approximately $144,000. Regulatory guidelines require us to reevaluate the fair value of foreclosed assets held for sale on at least an annual basis. The Company’s policy is to comply with the regulatory guidelines. The significant unobservable (Level 3) inputs used in the fair value measurement of collateral for collateral-dependent impaired loans and foreclosed assets primarily relate to customized discounting criteria applied to the customer’s reported amount of collateral. The amount of the collateral discount depends upon the condition and marketability of the underlying collateral. As the Company’s primary objective in the event of default would be to monetize the collateral to settle the outstanding balance of the loan, less marketable collateral would receive a larger discount. During the reported periods, collateral discounts ranged from 20% to 50% for commercial and residential real estate collateral. Fair Values of Financial Instruments The following methods and assumptions were used by the Company in estimating fair values of financial instruments as disclosed in these notes: Cash and cash equivalents and federal funds sold Investment securities – held-to-maturity Loans receivable, net of impaired loans and allowance Accrued interest receivable — Deposits and securities sold under agreements to repurchase FHLB and other borrowed funds Accrued interest payable Subordinated debentures Commitments to extend credit, letters of credit and lines of credit The following table presents the estimated fair values of the Company’s financial instruments. The fair values of certain of these instruments were calculated by discounting expected cash flows, which involves significant judgments by management and uncertainties. Fair value is the estimated amount at which financial assets or liabilities could be exchanged in a current transaction between willing parties other than in a forced or liquidation sale. Because no market exists for certain of these financial instruments and because management does not intend to sell these financial instruments, the Company does not know whether the fair values shown below represent values at which the respective financial instruments could be sold individually or in the aggregate. June 30, 2017 Carrying Amount Fair Value Level (In thousands) Financial assets: Cash and cash equivalents $ 460,488 $ 460,488 1 Federal funds sold — — N/A Investment securities – held-to-maturity 254,161 258,682 2 Loans receivable, net of impaired loans and allowance 7,679,164 7,517,442 3 Accrued interest receivable 32,445 32,445 1 Financial liabilities: Deposits: Demand and non-interest $ 1,957,677 $ 1,957,677 1 Savings and interest-bearing transaction accounts 4,335,456 4,335,456 1 Time deposits 1,474,255 1,459,915 3 Federal funds purchased — — N/A Securities sold under agreements to repurchase 133,741 133,741 1 FHLB and other borrowed funds 1,099,478 1,100,398 2 Accrued interest payable 6,619 6,619 1 Subordinated debentures 357,838 357,838 3 December 31, 2016 Carrying Amount Fair Value Level (In thousands) Financial assets: Cash and cash equivalents $ 216,649 $ 216,649 1 Federal funds sold 1,550 1,550 1 Investment securities – held-to-maturity 284,176 287,038 2 Loans receivable, net of impaired loans and allowance 7,216,199 7,131,199 3 Accrued interest receivable 30,838 30,838 1 Financial liabilities: Deposits: Demand and non-interest $ 1,695,184 $ 1,695,184 1 Savings and interest-bearing transaction accounts 3,963,241 3,963,241 1 Time deposits 1,284,002 1,275,634 3 Securities sold under agreements to repurchase 121,290 121,290 1 FHLB and other borrowed funds 1,305,198 1,311,280 2 Accrued interest payable 1,920 1,920 1 Subordinated debentures 60,826 60,826 3 |
Recent Accounting Pronouncements | In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers (Topic 606) 2014-09 No. 2015-14, Revenue from Contracts with Customers (Topic 606) 2016-10, Revenue from Contracts with Customers (Topic 606): Identifying Performance Obligations and Licensing 2014-09 2014-10’s 2014-09. 2016-12, Revenue from Contracts with Customers (Topic 606): Narrow-Scope Improvements and Practical Expedients 2014-09. 2016-12’s 2014-09 The guidance issued in ASU 2014-09, 2015-14, 2016-10 2016-12 In January 2016, the FASB issued ASU 2016-01, Financial Instruments - Overall (Subtopic 825-10): 2016-01 available-for-sale In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842). 2016-02 2016-02 2016-02 right-of-use 10-K In March 2016, the FASB issued ASU 2016-09, Compensation – Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting 2016-09 2016-09 paid-in 2016-09. In May 2016, the FASB issued ASU 2016-11, Revenue Recognition (Topic 605) and Derivatives and Hedging (Topic 815): Rescission of SEC Guidance Because of Accounting Standards Updates 2014-09 2014-16 3, 2016 EITF Meeting (SEC Update) 2016-11 2014-09 2014-16. 2016-11 In June 2016, the FASB issued ASU 2016-13, Measurement of Credit Losses on Financial Instruments 2016-13 2016-13 2016-13 held-to-maturity available-for-sale 2016-13 in-house In August 2016, the FASB issued ASU 2016-15, Classification of Certain Cash Receipts and Cash Payments, 2016-15 2016-15’s zero-coupon 2016-15 2016-15 In October 2016, the FASB issued ASU 2016-16, Income Taxes (Topic 740): Intra-Entity Transfers of Assets Other Than Inventory 2016-16 In November 2016, the FASB issued ASU 2016-18, Statement of Cash Flows (Topic 230): Restricted Cash (a consensus of the FASB Emerging Issues Task Force) 2016-18 In January 2017, the FASB issued ASU 2017-01, Business Combinations (Topic 805): Clarifying the Definition of a Business 2017-01 In January 2017, the FASB issued ASU 2017-03, Accounting Changes and Error Corrections (Topic 250) and Investments—Equity Method and Joint Ventures (Topic 323) 2016-02, Leases 2014-09, Revenue from Contracts with Customers In January 2017, the FASB issued ASU 2017-04, Intangibles - Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment more-likely-than-not In February 2017, the FASB issued ASU 2017-05, Other Income: Gains and Losses from the Derecognition of Nonfinancial Assets 610-20) in-substance 610-20-55-15 55-16. 2017-05 In March 2017, the FASB issued ASU 2017-08, Receivables - Nonrefundable Fees and Other Costs (Topic 310): Premium Amortization on Purchased Callable Debt Securities 2017-08 In May 2017, the FASB issued ASU 2017-09, Compensation - Stock Compensation (Topic 718): Scope of Modification Accounting 2017-09 2017-09 In July 2017, the FASB issued ASU 2017-11, Earnings Per Share (Topic 260), Distinguishing Liabilities from Equity (Topic 480) and Derivatives and Hedging (Topic 815): I. Accounting for Certain Financial Instruments with Down Round Features; II. Replacement of the Indefinite Deferral for Mandatorily Redeemable Financial Instruments of Certain Nonpublic Entities and Certain Mandatorily Redeemable Non-controlling Topic 480, Distinguishing Liabilities from Equity non-controlling 2017-11 |
Giant Holdings, Inc. [Member] | |
Business Combinations | The Company has determined that the acquisition of the net assets of GHI constitutes a business combination as defined by the ASC Topic 805. Accordingly, the assets acquired and liabilities assumed are presented at their fair values as required. Fair values were determined based on the requirements of ASC Topic 820. In many cases, the determination of these fair values required management to make estimates about discount rates, future expected cash flows, market conditions and other future events that are highly subjective in nature and subject to change. |
Nonrefundable Fees and Other Costs | The Company evaluated $106.8 million of the loans purchased in conjunction with the acquisition in accordance with the provisions of FASB ASC Topic 310-20, Nonrefundable Fees and Other Costs, |
The Bank of Commerce [Member] | |
Business Combinations | The Company has determined that the acquisition of the net assets of BOC constitutes a business combination as defined by the ASC Topic 805. Accordingly, the assets acquired and liabilities assumed are presented at their fair values as required. Fair values were determined based on the requirements of ASC Topic 820. In many cases, the determination of these fair values required management to make estimates about discount rates, future expected cash flows, market conditions and other future events that are highly subjective in nature and subject to change. |
Nonrefundable Fees and Other Costs | The Company evaluated $106.8 million of the loans purchased in conjunction with the acquisition in accordance with the provisions of FASB ASC Topic 310-20, Nonrefundable Fees and Other Costs, |
Nature of Operations and Summ31
Nature of Operations and Summary of Significant Accounting Policies (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Computation of Basic and Diluted Earnings per Common Share (EPS) | The following table sets forth the computation of basic and diluted earnings per share (“EPS”) for the following periods: Three Months Ended June 30, Six Months Ended June 30, 2017 2016 2017 2016 (In thousands) Net income $ 50,097 $ 43,509 $ 96,953 $ 84,936 Average shares outstanding 143,282 140,382 142,538 140,386 Effect of common stock options 834 226 732 281 Average diluted shares outstanding 144,116 140,608 143,270 140,667 Basic earnings per share $ 0.35 $ 0.31 $ 0.68 $ 0.61 Diluted earnings per share $ 0.35 $ 0.31 $ 0.68 $ 0.60 |
Business Combinations (Tables)
Business Combinations (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Giant Holdings, Inc. [Member] | |
Breakdown of Assets Acquired and Liabilities Assumed | The following schedule is a breakdown of the assets acquired and liabilities assumed as of the acquisition date: Giant Holdings, Inc. Acquired from GHI Fair Value As Recorded by HBI (Dollars in thousands) Assets Cash and due from banks $ 41,019 $ — $ 41,019 Interest-bearing deposits with other banks 4,057 1 4,058 Investment securities 1,961 (5 ) 1,956 Loans receivable 335,886 (6,517 ) 329,369 Allowance for loan losses (4,568 ) 4,568 — Loans receivable, net 331,318 (1,949 ) 329,369 Bank premises and equipment, net 2,111 608 2,719 Cash value of life insurance 10,861 — 10,861 Accrued interest receivable 850 — 850 Deferred tax asset 2,286 1,807 4,093 Core deposit intangible 172 3,238 3,410 Other assets 254 (489 ) (235 ) Total assets acquired $ 394,889 $ 3,211 $ 398,100 Liabilities Deposits Demand and non-interest-bearing $ 75,993 $ — $ 75,993 Savings and interest-bearing transaction accounts 139,459 — 139,459 Time deposits 88,219 324 88,543 Total deposits 303,671 324 303,995 FHLB borrowed funds 26,047 431 26,478 Accrued interest payable and other liabilities 14,552 18 14,570 Total liabilities assumed 344,270 773 345,043 Equity Total equity assumed 50,619 (50,619 ) — Total liabilities and equity assumed $ 394,889 $ (49,846 ) 345,043 Net assets acquired 53,057 Purchase price 96,015 Goodwill $ 42,958 |
The Bank of Commerce [Member] | |
Breakdown of Assets Acquired and Liabilities Assumed | The following schedule is a breakdown of the assets acquired and liabilities assumed as of the acquisition date: The Bank of Commerce Acquired from BOC Fair Value As by HBI (Dollars in thousands) Assets Cash and due from banks $ 4,610 $ — $ 4,610 Interest-bearing deposits with other banks 14,360 — 14,360 Investment securities 25,926 (113 ) 25,813 Loans receivable 124,289 (5,751 ) 118,538 Allowance for loan losses (2,037 ) 2,037 — Loans receivable, net 122,252 (3,714 ) 118,538 Bank premises and equipment, net 1,887 — 1,887 Foreclosed assets held for sale 8,523 (3,165 ) 5,358 Accrued interest receivable 481 — 481 Deferred tax asset 4,198 4,198 Core deposit intangible — 968 968 Other assets 1,880 — 1,880 Total assets acquired $ 179,919 $ (1,826 ) $ 178,093 Liabilities Deposits Demand and non-interest-bearing $ 27,245 $ — $ 27,245 Savings and interest-bearing transaction accounts 32,300 — 32,300 Time deposits 79,945 270 80,215 Total deposits 139,490 270 139,760 FHLB borrowed funds 30,000 42 30,042 Accrued interest payable and other liabilities 564 (255 ) 309 Total liabilities assumed $ 170,054 $ 57 170,111 Net assets acquired 7,982 Purchase price 4,175 Pre-tax gain on acquisition $ 3,807 |
Investment Securities (Tables)
Investment Securities (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Text Block [Abstract] | |
Amortized Cost and Estimated Fair Value of Investment Securities Classified as Available-for-Sale | The amortized cost and estimated fair value of investment securities that are classified as available-for-sale held-to-maturity June 30, 2017 Available-for-Sale Amortized Gross Gross Estimated (In thousands) U.S. government-sponsored enterprises $ 354,594 $ 2,544 $ (461 ) $ 356,677 Residential mortgage-backed securities 335,446 1,284 (923 ) 335,807 Commercial mortgage-backed securities 426,988 2,323 (1,259 ) 428,052 State and political subdivisions 236,216 5,318 (610 ) 240,924 Other securities 36,586 2,760 (375 ) 38,971 Total $ 1,389,830 $ 14,229 $ (3,628 ) $ 1,400,431 December 31, 2016 Available-for-Sale Amortized Gross Gross Estimated (In thousands) U.S. government-sponsored enterprises $ 237,439 $ 963 $ (1,641 ) $ 236,761 Residential mortgage-backed securities 259,037 1,226 (1,627 ) 258,636 Commercial mortgage-backed securities 322,316 845 (2,342 ) 320,819 State and political subdivisions 215,209 3,471 (2,181 ) 216,499 Other securities 38,261 2,603 (659 ) 40,205 Total $ 1,072,262 $ 9,108 $ (8,450 ) $ 1,072,920 |
Schedule of Amortized Cost and Estimated Fair Value of Investment Securities Classified as Held-to-Maturity | The amortized cost and estimated fair value of investment securities that are classified as available-for-sale held-to-maturity Held-to-Maturity Amortized Gross Gross Estimated (In thousands) U.S. government-sponsored enterprises $ 6,212 $ 41 $ — $ 6,253 Residential mortgage-backed securities 64,462 276 (130 ) 64,608 Commercial mortgage-backed securities 20,648 301 (6 ) 20,943 State and political subdivisions 162,839 4,039 — 166,878 Total $ 254,161 $ 4,657 $ (136 ) $ 258,682 Held-to-Maturity Amortized Gross Gross Estimated (In thousands) U.S. government-sponsored enterprises $ 6,637 $ 23 $ (32 ) $ 6,628 Residential mortgage-backed securities 71,956 267 (301 ) 71,922 Commercial mortgage-backed securities 35,863 107 (133 ) 35,837 State and political subdivisions 169,720 3,100 (169 ) 172,651 Total $ 284,176 $ 3,497 $ (635 ) $ 287,038 |
Amortized Cost and Estimated Fair Value of Securities Contractual Maturity | The amortized cost and estimated fair value of securities classified as available-for-sale and held-to-maturity at June 30, 2017, by contractual maturity, are shown below. Expected maturities will differ from contractual maturities because issuers may have the right to call or prepay obligations with or without call or prepayment penalties. Available-for-Sale Held-to-Maturity Amortized Estimated Amortized Estimated Cost Fair Value Cost Fair Value (In thousands) Due in one year or less $ 164,728 $ 167,278 $ 57,697 $ 59,065 Due after one year through five years 892,526 898,424 122,334 124,901 Due after five years through ten years 240,776 242,080 17,895 18,214 Due after ten years 91,800 92,649 56,235 56,502 Total $ 1,389,830 $ 1,400,431 $ 254,161 $ 258,682 |
Unrealized Losses and Estimated Fair Value of Investment Securities Available for Sale and Held to Maturity | The following shows gross unrealized losses and estimated fair value of investment securities classified as available-for-sale and held-to-maturity with unrealized losses that are not deemed to be other-than-temporarily impaired, aggregated by investment category and length of time that individual investment securities have been in a continuous loss position as of June 30, 2017 and December 31, 2016: June 30, 2017 Less Than 12 Months 12 Months or More Total Fair Unrealized Fair Unrealized Fair Unrealized Value Losses Value Losses Value Losses (In thousands) U.S. government-sponsored enterprises $ 51,957 $ (283 ) $ 39,341 $ (178 ) $ 91,298 $ (461 ) Residential mortgage-backed securities 158,147 (716 ) 22,917 (337 ) 181,064 (1,053 ) Commercial mortgage-backed securities 125,079 (764 ) 38,801 (501 ) 163,880 (1,265 ) State and political subdivisions 31,058 (591 ) 1,698 (19 ) 32,756 (610 ) Other securities 1,581 (35 ) 8,395 (340 ) 9,976 (375 ) Total $ 367,822 $ (2,389 ) $ 111,152 $ (1,375 ) $ 478,974 $ (3,764 ) December 31, 2016 Less Than 12 Months 12 Months or More Total Fair Unrealized Fair Unrealized Fair Unrealized Value Losses Value Losses Value Losses (In thousands) U.S. government-sponsored enterprises $ 98,180 $ (1,031 ) $ 75,044 $ (642 ) $ 173,224 $ (1,673 ) Residential mortgage-backed securities 188,117 (1,742 ) 8,902 (186 ) 197,019 (1,928 ) Commercial mortgage-backed securities 202,289 (2,220 ) 21,020 (255 ) 223,309 (2,475 ) State and political subdivisions 94,309 (2,348 ) 500 (2 ) 94,809 (2,350 ) Other securities 1,540 (125 ) 12,687 (534 ) 14,227 (659 ) Total $ 584,435 $ (7,466 ) $ 118,153 $ (1,619 ) $ 702,588 $ (9,085 ) |
Schedule of Income Earned on Securities | Income earned on securities for the three and six months ended June 30, 2017 and 2016, is as follows: Three Months Ended June 30, Six Months Ended June 30, 2017 2016 2017 2016 (In thousands) Taxable: Available-for-sale $ 5,680 $ 4,344 $ 10,474 $ 8,911 Held-to-maturity 754 801 1,438 1,684 Non-taxable: Available-for-sale 1,583 1,565 3,130 3,139 Held-to-maturity 1,383 1,258 2,780 2,499 Total $ 9,400 $ 7,968 $ 17,822 $ 16,233 |
Loans Receivable (Tables)
Loans Receivable (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Receivables [Abstract] | |
Summary of Various Categories of Loans Receivable | The various categories of loans receivable are summarized as follows: June 30, December 31, 2017 2016 (In thousands) Real estate: Commercial real estate loans Non-farm/non-residential $ 3,368,663 $ 3,153,121 Construction/land development 1,315,309 1,135,843 Agricultural 78,260 77,736 Residential real estate loans Residential 1-4 family 1,513,888 1,356,136 Multifamily residential 398,781 340,926 Total real estate 6,674,901 6,063,762 Consumer 38,424 41,745 Commercial and industrial 994,827 1,123,213 Agricultural 69,697 74,673 Other 56,626 84,306 Total loans receivable $ 7,834,475 $ 7,387,699 |
Allowance for Loan Losses, Cr35
Allowance for Loan Losses, Credit Quality and Other (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Text Block [Abstract] | |
Summary of Changes in Allowance for Loan Losses | The following table presents a summary of changes in the allowance for loan losses: Six Months Ended June 30, 2017 (In thousands) Allowance for loan losses: Beginning balance $ 80,002 Loans charged off (6,111 ) Recoveries of loans previously charged off 1,946 Net loans recovered (charged off) (4,165 ) Provision for loan losses 4,301 Balance, June 30, 2017 $ 80,138 |
Balance of Allowance for Loan Losses | The following tables present the balance in the allowance for loan losses for the three and six-month Three Months Ended June 30, 2017 Construction/ Land Other Commercial Residential Real Estate Commercial & Industrial Consumer & Other Unallocated Total (In thousands) Allowance for loan losses: Beginning balance $ 12,073 $ 28,923 $ 18,240 $ 13,384 $ 3,370 $ 4,321 $ 80,311 Loans charged off (119 ) (191 ) (397 ) (134 ) (564 ) — (1,405 ) Recoveries of loans previously charged off 28 379 121 70 247 — 845 Net loans recovered (charged off) (91 ) 188 (276 ) (64 ) (317 ) — (560 ) Provision for loan losses 860 (1,268 ) (249 ) (492 ) 10 1,526 387 Balance, June 30 $ 12,842 $ 27,843 $ 17,715 $ 12,828 $ 3,063 $ 5,847 $ 80,138 Six Months Ended June 30, 2017 Construction/ Land Other Commercial Residential Real Estate Commercial & Industrial Consumer & Other Unallocated Total (In thousands) Allowance for loan losses: Beginning balance $ 11,522 $ 28,188 $ 16,517 $ 12,756 $ 4,188 $ 6,831 $ 80,002 Loans charged off (326 ) (1,655 ) (2,288 ) (779 ) (1,063 ) — (6,111 ) Recoveries of loans previously charged off 227 710 254 252 503 — 1,946 Net loans recovered (charged off) (99 ) (945 ) (2,034 ) (527 ) (560 ) — (4,165 ) Provision for loan losses 1,419 600 3,232 599 (565 ) (984 ) 4,301 Balance, June 30 $ 12,842 $ 27,843 $ 17,715 $ 12,828 $ 3,063 $ 5,847 $ 80,138 As of June 30, 2017 Construction/ Land Other Commercial Residential Real Estate Commercial & Industrial Consumer & Other Unallocated Total (In thousands) Allowance for loan losses: Period end amount allocated to: Loans individually evaluated for impairment $ 121 $ 1,196 $ 228 $ 2,138 $ 8 $ — $ 3,691 Loans collectively evaluated for impairment 12,718 26,297 16,880 10,589 3,050 5,847 75,381 Loans evaluated for impairment balance, June 30 12,839 27,493 17,108 12,727 3,058 5,847 79,072 Purchased credit impaired loans 3 350 607 101 5 — 1,066 Balance, June 30 $ 12,842 $ 27,843 $ 17,715 $ 12,828 $ 3,063 $ 5,847 $ 80,138 Loans receivable: Period end amount allocated to: Loans individually evaluated for impairment $ 38,672 $ 52,656 $ 24,779 $ 10,031 $ 1,009 $ — $ 127,147 Loans collectively evaluated for impairment 1,260,049 3,306,528 1,841,046 972,024 161,069 — 7,540,716 Loans evaluated for impairment balance, June 30 1,298,721 3,359,184 1,865,825 982,055 162,078 — 7,667,863 Purchased credit impaired loans 16,588 87,739 46,844 12,772 2,669 — 166,612 Balance, June 30 $ 1,315,309 $ 3,446,923 $ 1,912,669 $ 994,827 $ 164,747 $ — $ 7,834,475 The following tables present the balances in the allowance for loan losses for the six-month Year Ended December 31, 2016 Construction/ Land Other Commercial Residential Real Estate Commercial & Industrial Consumer & Other Unallocated Total (In thousands) Allowance for loan losses: Beginning balance $ 10,782 $ 26,798 $ 14,818 $ 9,324 $ 5,016 $ 2,486 $ 69,224 Loans charged off (153 ) (1,849 ) (2,306 ) (3,036 ) (970 ) — (8,314 ) Recoveries of loans previously charged off 33 228 688 614 499 — 2,062 Net loans recovered (charged off) (120 ) (1,621 ) (1,618 ) (2,422 ) (471 ) — (6,252 ) Provision for loan losses 1,673 (329 ) 2,488 6,852 841 (156 ) 11,369 Balance, June 30 12,335 24,848 15,688 13,754 5,386 2,330 74,341 Loans charged off (229 ) (1,737 ) (3,291 ) (2,742 ) (1,188 ) — (9,187 ) Recoveries of loans previously charged off 1,092 629 464 4,919 505 — 7,609 Net loans recovered (charged off) 863 (1,108 ) (2,827 ) 2,177 (683 ) — (1,578 ) Provision for loan losses (1,676 ) 4,448 3,656 (3,175 ) (515 ) 4,501 7,239 Balance, December 31 $ 11,522 $ 28,188 $ 16,517 $ 12,756 $ 4,188 $ 6,831 $ 80,002 As of December 31, 2016 Construction/ Land Other Commercial Residential Real Estate Commercial & Industrial Consumer & Other Unallocated Total (In thousands) Allowance for loan losses: Period end amount allocated to: Loans individually evaluated for impairment $ 15 $ 1,416 $ 103 $ 95 $ — $ — $ 1,629 Loans collectively evaluated for impairment 11,463 25,641 15,796 12,596 4,176 6,831 76,503 Loans evaluated for impairment balance, December 31 11,478 27,057 15,899 12,691 4,176 6,831 78,132 Purchased credit impaired loans 44 1,131 618 65 12 — 1,870 Balance, December 31 $ 11,522 $ 28,188 $ 16,517 $ 12,756 $ 4,188 $ 6,831 $ 80,002 Loans receivable: Period end amount allocated to: Loans individually evaluated for impairment $ 12,374 $ 74,723 $ 35,187 $ 25,873 $ 1,096 $ — $ 149,253 Loans collectively evaluated for impairment 1,105,921 3,080,201 1,608,805 1,085,891 198,064 — 7,078,882 Loans evaluated for impairment balance, December 31 1,118,295 3,154,924 1,643,992 1,111,764 199,160 — 7,228,135 Purchased credit impaired loans 17,548 75,933 53,070 11,449 1,564 — 159,564 Balance, December 31 $ 1,135,843 $ 3,230,857 $ 1,697,062 $ 1,123,213 $ 200,724 $ — $ 7,387,699 |
Summary of Aging Analysis for Loans Receivable | The following is an aging analysis for loans receivable as of June 30, 2017 and December 31, 2016: June 30, 2017 Loans Past Due 30-59 Days Loans Past Due 60-89 Days Loans Past Due 90 Days or More Total Past Due Current Loans Total Loans Receivable Accruing Loans Past Due 90 Days or More (In thousands) Real estate: Commercial real estate loans Non-farm/non-residential $ 4,757 $ 914 $ 17,877 $ 23,548 $ 3,345,115 $ 3,368,663 $ 8,202 Construction/land development 5,962 72 5,541 11,575 1,303,734 1,315,309 3,176 Agricultural 346 — 114 460 77,800 78,260 — Residential real estate loans Residential 1-4 4,574 4,048 17,129 25,751 1,488,137 1,513,888 1,550 Multifamily residential — — 1,367 1,367 397,414 398,781 1,367 Total real estate 15,639 5,034 42,028 62,701 6,612,200 6,674,901 14,295 Consumer 133 58 138 329 38,095 38,424 6 Commercial and industrial 2,619 685 3,999 7,303 987,524 994,827 141 Agricultural and other 287 — 703 990 125,333 126,323 — Total $ 18,678 $ 5,777 $ 46,868 $ 71,323 $ 7,763,152 $ 7,834,475 $ 14,442 December 31, 2016 Loans Past Due 30-59 Days Loans Past Due 60-89 Days Loans Past Due 90 Days or More Total Past Due Current Loans Total Loans Receivable Accruing Loans Past Due 90 Days or More (In thousands) Real estate: Commercial real estate loans Non-farm/non-residential $ 2,036 $ 686 $ 27,518 $ 30,240 $ 3,122,881 $ 3,153,121 $ 9,530 Construction/land development 685 16 7,042 7,743 1,128,100 1,135,843 3,086 Agricultural — — 435 435 77,301 77,736 — Residential real estate loans Residential 1-4 6,972 1,287 23,307 31,566 1,324,570 1,356,136 2,996 Multifamily residential — — 262 262 340,664 340,926 — Total real estate 9,693 1,989 58,564 70,246 5,993,516 6,063,762 15,612 Consumer 117 66 161 344 41,401 41,745 21 Commercial and industrial 984 582 3,464 5,030 1,118,183 1,123,213 309 Agricultural and other 782 10 935 1,727 157,252 158,979 — Total $ 11,576 $ 2,647 $ 63,124 $ 77,347 $ 7,310,352 $ 7,387,699 $ 15,942 |
Summary of Impaired Loans | The following is a summary of the impaired loans as of June 30, 2017 and December 31, 2016: June 30, 2017 Three Months Ended Six Months Ended Unpaid Total Allocation of Allowance Average Interest Recognized Average Interest Recognized (In thousands) Loans without a specific valuation allowance Real estate: Commercial real estate loans Non-farm/non-residential $ 29 $ 29 $ — $ 15 $ — $ 19 $ 1 Construction/land development 23 23 — 12 — 8 1 Agricultural 37 — — — 1 — 1 Residential real estate loans Residential 1-4 201 201 — 101 3 144 6 Multifamily residential — — — — — — — Total real estate 290 253 — 128 4 171 9 Consumer 3 — — — — — — Commercial and industrial 17 81 — 41 — 68 1 Agricultural and other — — — — — — — Total loans without a specific valuation allowance 310 334 — 169 4 239 10 Loans with a specific valuation allowance Real estate: Commercial real estate loans Non-farm/non-residential 41,320 39,178 1,192 42,091 322 44,846 649 Construction/land development 10,315 9,481 121 10,110 69 9,272 135 Agricultural 77 117 4 138 1 238 3 Residential real estate loans Residential 1-4 21,260 20,745 214 23,230 77 24,045 181 Multifamily residential 1,841 1,655 14 1,100 28 917 32 Total real estate 74,813 71,176 1,545 76,669 497 79,318 1,000 Consumer 139 141 — 156 — 158 — Commercial and industrial 6,489 6,345 2,138 7,217 6 7,156 11 Agricultural and other 819 868 8 816 2 856 2 Total loans with a specific valuation allowance 82,260 78,530 3,691 84,858 505 87,488 1,013 Total impaired loans Real estate: Commercial real estate loans Non-farm/non-residential 41,349 39,207 1,192 42,106 322 44,865 650 Construction/land development 10,338 9,504 121 10,122 69 9,280 136 Agricultural 114 117 4 138 2 238 4 Residential real estate loans Residential 1-4 21,461 20,946 214 23,331 80 24,189 187 Multifamily residential 1,841 1,655 14 1,100 28 917 32 Total real estate 75,103 71,429 1,545 76,797 501 79,489 1,009 Consumer 142 141 — 156 — 158 — Commercial and industrial 6,506 6,426 2,138 7,258 6 7,224 12 Agricultural and other 819 868 8 816 2 856 2 Total impaired loans $ 82,570 $ 78,864 $ 3,691 $ 85,027 $ 509 $ 87,727 $ 1,023 Note 310-30. December 31, 2016 Unpaid Allocation Year Ended Contractual Total of Allowance Average Interest Recognized (In thousands) Loans without a specific valuation allowance Real estate: Commercial real estate loans Non-farm/non-residential $ 29 $ 29 $ — $ 23 $ 2 Construction/land development — — — 6 — Agricultural 40 — — — 2 Residential real estate loans Residential 1-4 231 231 — 119 15 Multifamily residential — — — 19 — Total real estate 300 260 — 167 19 Consumer — — — — — Commercial and industrial 124 124 — 64 8 Agricultural and other — — — — — Total loans without a specific valuation allowance 424 384 — 231 27 Loans with a specific valuation allowance Real estate: Commercial real estate loans Non-farm/non-residential 52,477 50,355 1,414 42,979 1,335 Construction/land development 8,313 7,595 15 12,878 334 Agricultural 395 438 2 469 — Residential real estate loans Residential 1-4 26,681 25,675 95 20,239 293 Multifamily residential 552 552 8 922 9 Total real estate 88,418 84,615 1,534 77,487 1,971 Consumer 165 161 — 223 3 Commercial and industrial 7,160 7,032 95 10,630 255 Agricultural and other 935 935 — 1,037 — Total loans with a specific valuation allowance 96,678 92,743 1,629 89,377 2,229 Total impaired loans Real estate: Commercial real estate loans Non-farm/non-residential 52,506 50,384 1,414 43,002 1,337 Construction/land development 8,313 7,595 15 12,884 334 Agricultural 435 438 2 469 2 Residential real estate loans Residential 1-4 26,912 25,906 95 20,358 308 Multifamily residential 552 552 8 941 9 Total real estate 88,718 84,875 1,534 77,654 1,990 Consumer 165 161 — 223 3 Commercial and industrial 7,284 7,156 95 10,694 263 Agricultural and other 935 935 — 1,037 — Total impaired loans $ 97,102 $ 93,127 $ 1,629 $ 89,608 $ 2,256 Note 310-30. |
Presentation of Classified Loans by Class and Risk Rating | The Company’s classified loans include loans in risk ratings 6, 7 and 8. The following is a presentation of classified loans (excluding loans accounted for under ASC Topic 310-30) June 30, 2017 Risk Rated 6 Risk Rated 7 Risk Rated 8 Classified Total (In thousands) Real estate: Commercial real estate loans Non-farm/non-residential $ 27,479 $ 773 $ — $ 28,252 Construction/land development 12,381 105 — 12,486 Agricultural 426 — — 426 Residential real estate loans Residential 1-4 22,334 578 — 22,912 Multifamily residential 786 — — 786 Total real estate 63,406 1,456 — 64,862 Consumer 174 1 — 175 Commercial and industrial 15,421 84 — 15,505 Agricultural and other 708 — — 708 Total risk rated loans $ 79,709 $ 1,541 $ — $ 81,250 December 31, 2016 Risk Rated 6 Risk Rated 7 Risk Rated 8 Classified Total (In thousands) Real estate: Commercial real estate loans Non-farm/non-residential $ 43,657 $ 462 $ — $ 44,119 Construction/land development 8,619 33 — 8,652 Agricultural 759 — — 759 Residential real estate loans Residential 1-4 28,846 445 — 29,291 Multifamily residential 1,391 — — 1,391 Total real estate 83,272 940 — 84,212 Consumer 211 2 — 213 Commercial and industrial 16,991 170 — 17,161 Agricultural and other 935 — — 935 Total risk rated loans $ 101,409 $ 1,112 $ — $ 102,521 Loans may be classified, but not considered impaired, due to one of the following reasons: (1) The Company has established minimum dollar amount thresholds for loan impairment testing. All loans over $2.0 million that are rated 5 – 8 are individually assessed for impairment on a quarterly basis. Loans rated 5 – 8 that fall under the threshold amount are not individually tested for impairment and therefore are not included in impaired loans; (2) of the loans that are above the threshold amount and tested for impairment, after testing, some are considered to not be impaired and are not included in impaired loans. The following is a presentation of loans receivable by class and risk rating as of June 30, 2017 and December 31, 2016: June 30, 2017 Risk Rated 1 Risk Rated 2 Risk Rated 3 Risk Rated 4 Risk Rated 5 Classified Total Total (In thousands) Real estate: Commercial real estate loans Non-farm/non-residential $ 1,032 $ 578 $ 1,675,101 $ 1,538,389 $ 37,572 $ 28,252 $ 3,280,924 Construction/land development 33 838 193,881 1,063,218 28,265 12,486 1,298,721 Agricultural — 83 49,714 27,155 882 426 78,260 Residential real estate loans Residential 1-4 1,483 1,216 1,010,859 426,751 10,917 22,912 1,474,138 Multifamily residential — — 288,688 101,997 216 786 391,687 Total real estate 2,548 2,715 3,218,243 3,157,510 77,852 64,862 6,523,730 Consumer 12,681 162 15,872 8,384 51 175 37,325 Commercial and industrial 12,039 3,851 497,950 442,664 10,046 15,505 982,055 Agricultural and other 2,735 927 64,980 55,403 — 708 124,753 Total risk rated loans $ 30,003 $ 7,655 $ 3,797,045 $ 3,663,961 $ 87,949 $ 81,250 7,667,863 Purchased credit impaired loans 166,612 Total loans receivable $ 7,834,475 December 31, 2016 Risk Rated 1 Risk Rated 2 Risk Rated 3 Risk Rated 4 Risk Rated 5 Classified Total Total (In thousands) Real estate: Commercial real estate loans Non-farm/non-residential $ 1,047 $ 4,762 $ 1,568,385 $ 1,425,316 $ 33,559 $ 44,119 $ 3,077,188 Construction/land development 400 981 180,094 921,081 7,087 8,652 1,118,295 Agricultural — 157 53,753 22,238 829 759 77,736 Residential real estate loans Residential 1-4 2,336 1,683 941,760 324,045 10,360 29,291 1,309,475 Multifamily residential — — 278,514 45,742 8,870 1,391 334,517 Total real estate 3,783 7,583 3,022,506 2,738,422 60,705 84,212 5,917,211 Consumer 15,080 231 15,330 9,645 81 213 40,580 Commercial and industrial 13,117 3,644 500,220 558,413 19,209 17,161 1,111,764 Agricultural and other 3,379 976 82,641 70,649 — 935 158,580 Total risk rated loans $ 35,359 $ 12,434 $ 3,620,697 $ 3,377,129 $ 79,995 $ 102,521 7,228,135 Purchased credit impaired loans 159,564 Total loans receivable $ 7,387,699 |
Presentation of Troubled Debt Restructurings ("TDRs") by Class | The following is a presentation of troubled debt restructurings (“TDRs”) by class as of June 30, 2017 and December 31, 2016: June 30, 2017 Number of Loans Pre- Modification Rate Modification Term Modification Rate & Term Modification Post- (Dollars in thousands) Real estate: Commercial real estate loans Non-farm/non-residential 14 $ 17,017 $ 10,457 $ 256 $ 5,456 $ 16,169 Construction/land development 3 641 554 79 — 633 Agricultural 2 146 — 39 78 117 Residential real estate loans Residential 1-4 20 5,297 3,206 104 1,308 4,618 Multifamily residential 1 295 — — 288 288 Total real estate 40 23,396 14,217 478 7,130 21,825 Consumer 1 3 — 3 — 3 Commercial and industrial 6 359 237 75 5 317 Other 1 166 166 — — 166 Total 48 $ 23,924 $ 14,620 $ 556 $ 7,135 $ 22,311 December 31, 2016 Number of Loans Pre- Modification Rate Modification Term Modification Rate & Term Modification Post- (Dollars in thousands) Real estate: Commercial real estate loans Non-farm/non-residential 17 $ 21,344 $ 14,600 $ 263 $ 5,542 $ 20,405 Construction/land development 1 560 556 — — 556 Agricultural 2 146 — 43 80 123 Residential real estate loans Residential 1-4 21 5,179 2,639 124 1,017 3,780 Multifamily residential 1 295 — — 290 290 Total real estate 42 27,524 17,795 430 6,929 25,154 Commercial and industrial 6 395 237 115 10 362 Total 48 $ 27,919 $ 18,032 $ 545 $ 6,939 $ 25,516 |
Presentation of TDR's on Non-Accrual Status | The following is a presentation of TDRs on non-accrual June 30, 2017 December 31, 2016 Number of Loans Recorded Balance Number of Loans Recorded Balance (Dollars in thousands) Real estate: Commercial real estate loans Non-farm/non-residential — $ — 2 $ 696 Agricultural 2 117 2 123 Residential real estate loans Residential 1-4 8 962 13 2,240 Total real estate 10 1,079 17 3,059 Commercial and industrial 1 17 — — Total 11 $ 1,096 17 $ 3,059 |
Summary of Total Foreclosed Assets | The following is a presentation of total foreclosed assets as of June 30, 2017 and December 31, 2016: June 30, 2017 December 31, 2016 (In thousands) Commercial real estate loans Non-farm/non-residential $ 8,206 $ 9,423 Construction/land development 4,742 4,009 Agricultural — — Residential real estate loans Residential 1-4 4,321 2,076 Multifamily residential 1,520 443 Total foreclosed assets held for sale $ 18,789 $ 15,951 |
Summary of Purchased Credit Impaired Loans Acquired | The following is a summary of the purchased credit impaired loans acquired in the GHI and BOC acquisitions during the first quarter of 2017 as of the date of acquisition: GHI BOC (In thousands) Contractually required principal and interest at acquisition $ 22,379 $ 18,586 Non-accretable difference (expected losses and foregone interest) 4,462 2,811 Cash flows expected to be collected at acquisition 17,917 15,775 Accretable yield 2,071 1,043 Basis in purchased credit impaired loans at acquisition $ 15,846 $ 14,732 |
Changes in Carrying Amount of Accretable Yield for Purchased Credit Impaired Loans | Changes in the carrying amount of the accretable yield for purchased credit impaired loans were as follows for the six-month Accretable Yield Carrying (In thousands) Balance at beginning of period $ 38,212 $ 159,564 Reforecasted future interest payments for loan pools 1,913 — Accretion recorded to interest income (10,172 ) 10,172 Acquisitions of GHI and BOC 3,114 30,578 Adjustment to yield 1,699 — Transfers to foreclosed assets held for sale — (698 ) Payments received, net — (33,004 ) Balance at end of period $ 34,766 $ 166,612 |
Goodwill and Core Deposits an36
Goodwill and Core Deposits and Other Intangibles (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Summary of Changes in Carrying Amount and Accumulated Amortization of Company's Goodwill and Core Deposits and Other Intangibles | Changes in the carrying amount and accumulated amortization of the Company’s goodwill and core deposits and other intangibles at June 30, 2017 and December 31, 2016, were as follows: June 30, 2017 December 31, 2016 (In thousands) Goodwill Balance, beginning of period $ 377,983 $ 377,983 Acquisitions 42,958 — Balance, end of period $ 420,941 $ 377,983 June 30, 2017 December 31, 2016 (In thousands) Core Deposit and Other Intangibles Balance, beginning of period $ 18,311 $ 21,443 Acquisition 4,378 — Amortization expense (1,670 ) (1,608 ) Balance, June 30 $ 21,019 19,835 Amortization expense (1,524 ) Balance, end of year $ 18,311 |
Summary of Carrying Amount and Accumulated Amortization of Core Deposits and Other Intangibles | The carrying basis and accumulated amortization of core deposits and other intangibles at June 30, 2017 and December 31, 2016 were: June 30, 2017 December 31, 2016 (In thousands) Gross carrying basis $ 55,756 $ 51,378 Accumulated amortization (34,737 ) (33,067 ) Net carrying amount $ 21,019 $ 18,311 |
Securities Sold Under Agreeme37
Securities Sold Under Agreements to Repurchase (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Brokers and Dealers [Abstract] | |
Summary of Remaining Contractual Maturity of Securities Sold Under Agreements to Repurchase | The remaining contractual maturity of securities sold under agreements to repurchase in the consolidated balance sheets as of June 30, 2017 and December 31, 2016 is presented in the following tables: June 30, 2017 Overnight and Up to 30 Days 30-90 Days Greater than Total (In thousands) Securities sold under agreements to repurchase: U.S. government-sponsored enterprises $ 11,514 $ — $ — $ — $ 11,514 Mortgage-backed securities 18,420 — — — 18,420 State and political subdivisions 82,048 — — — 82,048 Other securities 21,759 — — — 21,759 Total borrowings $ 133,741 $ — $ — $ — $ 133,741 December 31, 2016 Overnight and Up to 30 Days 30-90 Days Greater than Total (In thousands) Securities sold under agreements to repurchase: U.S. government-sponsored enterprises $ 1,918 $ — $ — $ — $ 1,918 Mortgage-backed securities 22,691 — — — 22,691 State and political subdivisions 74,559 — — — 74,559 Other securities 22,122 — — — 22,122 Total borrowings $ 121,290 $ — $ — $ — $ 121,290 |
Subordinated Debentures (Tables
Subordinated Debentures (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Brokers and Dealers [Abstract] | |
Preferred Trust Securities and Subordinated Debentures | Subordinated debentures at June 30, 2017 and December 31, 2016 contained the following components: As of June 30, As of (In thousands) Trust preferred securities Subordinated debentures, issued in 2006, due 2036, fixed rate of 6.75% during the first five years and at a floating rate of 1.85% above the three-month LIBOR rate, reset quarterly, thereafter, currently callable without penalty $ 3,093 $ 3,093 Subordinated debentures, issued in 2004, due 2034, fixed rate of 6.00% during the first five years and at a floating rate of 2.00% above the three-month LIBOR rate, reset quarterly, thereafter, currently callable without penalty 15,464 15,464 Subordinated debentures, issued in 2005, due 2035, fixed rate of 5.84% during the first five years and at a floating rate of 1.45% above the three-month LIBOR rate, reset quarterly, thereafter, currently callable without penalty 25,774 25,774 Subordinated debentures, issued in 2004, due 2034, fixed rate of 4.29% during the first five years and at a floating rate of 2.50% above the three-month LIBOR rate, reset quarterly, thereafter, currently callable without penalty 16,495 16,495 Subordinated debt securities Subordinated notes, net of issuance costs, issued in 2017, due 2027, fixed rate of 5.625% during the first five years and at a floating rate of 3.575% above the then three-month LIBOR rate, reset quarterly, thereafter, callable in 2022 without penalty 297,012 — Total $ 357,838 $ 60,826 |
Income Taxes (Tables)
Income Taxes (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Income Tax Disclosure [Abstract] | |
Summary of Components of Provision (Benefit) for Income Taxes | The following is a summary of the components of the provision (benefit) for income taxes for the three and six-month Three Months Ended June 30, Six Months Ended June 30, 2017 2016 2017 2016 (In thousands) Current: Federal $ 29,278 $ 17,488 $ 48,669 $ 37,693 State 5,815 3,474 9,667 7,487 Total current 35,093 20,962 58,336 45,180 Deferred: Federal (4,014 ) 4,224 (2,236 ) 4,661 State (797 ) 839 (444 ) 926 Total deferred (4,811 ) 5,063 (2,680 ) 5,587 Income tax expense $ 30,282 $ 26,025 $ 55,656 $ 50,767 |
Reconciliation between Statutory Federal Income Tax Rate and Effective Income Tax Rate | The reconciliation between the statutory federal income tax rate and effective income tax rate is as follows for the three and six-month Three Months Ended Six Months Ended June 30, 2017 2016 2017 2016 Statutory federal income tax rate 35.00 % 35.00 % 35.00 % 35.00 % Effect of non-taxable (1.36 ) (1.54 ) (1.43 ) (1.58 ) Effect of gain on acquisitions — — (0.87 ) — Stock compensation (0.07 ) — (0.55 ) — State income taxes, net of federal benefit 4.12 4.06 4.03 4.07 Other (0.02 ) (0.09 ) 0.29 (0.08 ) Effective income tax rate 37.67 % 37.43 % 36.47 % 37.41 % |
Differences between Tax Basis of Assets and Liabilities | The types of temporary differences between the tax basis of assets and liabilities and their financial reporting amounts that give rise to deferred income tax assets and liabilities, and their approximate tax effects, are as follows: June 30, 2017 December 31, 2016 (In thousands) Deferred tax assets: Allowance for loan losses $ 31,649 $ 31,381 Deferred compensation 2,567 3,925 Stock compensation 3,121 669 Real estate owned 3,464 2,296 Loan discounts 20,119 9,157 Tax basis premium/discount on acquisitions 13,318 14,757 Investments 1,394 1,957 Other 8,001 8,361 Gross deferred tax assets 83,633 72,503 Deferred tax liabilities: Accelerated depreciation on premises and equipment 1,097 2,154 Unrealized gain on securities available-for-sale 4,159 258 Core deposit intangibles 6,065 4,950 FHLB dividends 1,926 1,926 Other 2,018 1,917 Gross deferred tax liabilities 15,265 11,205 Net deferred tax assets $ 68,368 $ 61,298 |
Common Stock, Compensation Pl40
Common Stock, Compensation Plans and Other (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Equity [Abstract] | |
Schedule of purchases made by or on behalf of the Company of shares of the Company's common stock | The following table sets forth information with respect to purchases made by or on behalf of the Company of shares of the Company’s common stock during the periods indicated: Period Number of Shares Purchased Average Price Paid Per Share Total Number of Shares Purchased as Part of Publicly or Programs Maximum Number of May Yet Be Under the Plans April1 through April 30, 2017 20,000 $ 25.80 20,000 6,064,936 May 1 through May 31, 2017 246,100 24.81 246,100 5,818,836 June 1 through June 30, 2017 153,900 23.86 153,900 5,664,936 Total 420,000 420,000 |
Summary of Stock Option Transactions under Incentive Plan (Split Adjusted) | The table below summarizes the stock option transactions under the Plan at June 30, 2017 and December 31, 2016 and changes during the six-month For the Six Months For the Year Ended December 31, 2016 Shares (000) Weighted- Shares (000) Weighted- Outstanding, beginning of year 2,397 $ 15.19 2,794 $ 12.71 Granted 80 25.96 140 21.25 Forfeited/Expired — — (14 ) 17.28 Exercised (153 ) 7.53 (523 ) 3.50 Outstanding, end of period 2,324 16.07 2,397 15.19 Exercisable, end of period 897 $ 12.34 639 $ 8.88 |
Summary of Stock Options on Valuation Assumptions | For the Six Months Ended June 30, 2017 For the Year Ended December 31, 2016 Expected dividend yield 1.39 % 1.65 % Expected stock price volatility 28.47 % 26.66 % Risk-free interest rate 2.06 % 1.65 % Expected life of options 6.5 years 6.5 years |
Summary of Currently Outstanding and Exercisable Options (Split Adjusted) | The following is a summary of currently outstanding and exercisable options at June 30, 2017: Options Outstanding Options Exercisable Exercise Prices Options Outstanding Shares (000) Weighted- Average Remaining Weighted- Average Exercise Price Options Exercisable Shares (000) Weighted- Average Exercise Price $2.10 to $2.66 19 1.68 $ 2.55 19 $ 2.55 $4.27 to $4.62 91 0.55 4.28 91 4.28 $5.08 to $6.56 123 4.15 6.45 123 6.45 $8.62 to $9.54 284 5.68 9.09 224 9.08 $14.71 to $16.86 262 7.26 16.00 124 16.12 $17.12 to $17.40 215 7.43 17.19 94 17.21 $18.46 to $18.46 1,050 8.15 18.46 184 18.46 $20.16 to $20.58 80 8.27 20.37 14 20.34 $21.25 to $21.25 120 8.81 21.25 24 21.25 $25.96 to $25.96 80 9.81 25.96 — — 2,324 897 |
Summary of Company's Restricted Stock Issued and Outstanding (Split Adjusted) | The table below summarized the activity for the Company’s restricted stock issued and outstanding at June 30, 2017 and December 31, 2016 and changes during the period and year then ended: As of June 30, 2017 As of December 31, 2016 (In thousands) Beginning of year 958 975 Issued 146 244 Vested (45 ) (256 ) Forfeited — (5 ) End of period 1,059 958 Amount of expense for six months and twelve months ended, respectively $ 2,569 $ 4,049 |
Non-Interest Expense (Tables)
Non-Interest Expense (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Text Block [Abstract] | |
Components of Non-Interest Expense | The table below shows the components of non-interest Three Months Ended June 30, Six Months Ended June 30, 2017 2016 2017 2016 (In thousands) Salaries and employee benefits $ 28,034 $ 25,437 $ 55,455 $ 49,395 Occupancy and equipment 7,034 6,509 13,715 13,180 Data processing expense 2,863 2,766 5,586 5,430 Other operating expenses: Advertising 812 733 1,510 1,556 Merger and acquisition expenses 789 — 7,516 — Amortization of intangibles 866 763 1,670 1,608 Electronic banking expense 1,654 1,237 3,173 2,693 Directors’ fees 324 289 637 564 Due from bank service charges 456 337 876 642 FDIC and state assessment 1,182 1,446 2,470 2,892 Insurance 543 544 1,121 1,077 Legal and accounting 474 658 1,101 1,181 Other professional fees 1,233 1,044 2,386 1,969 Operating supplies 477 419 944 855 Postage 295 260 581 546 Telephone 398 455 722 942 Other expense 3,569 4,690 6,681 8,705 Total other operating expenses 13,072 12,875 31,388 25,230 Total non-interest $ 51,003 $ 47,587 $ 106,144 $ 93,235 |
Additional Cash Flow Informat42
Additional Cash Flow Information (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Supplemental Cash Flow Elements [Abstract] | |
Summary of Additional Cash Flow Information | The following is a summary of the Company’s additional cash flow information during the six-month June 30, 2017 2016 (In thousands) Interest paid $ 20,491 $ 14,572 Income taxes paid 74,542 47,250 Assets acquired by foreclosure 9,137 6,440 |
Financial Instruments (Tables)
Financial Instruments (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Fair Value Disclosures [Abstract] | |
Estimated Fair Values of Financial Instruments | The following table presents the estimated fair values of the Company’s financial instruments. The fair values of certain of these instruments were calculated by discounting expected cash flows, which involves significant judgments by management and uncertainties. Fair value is the estimated amount at which financial assets or liabilities could be exchanged in a current transaction between willing parties other than in a forced or liquidation sale. Because no market exists for certain of these financial instruments and because management does not intend to sell these financial instruments, the Company does not know whether the fair values shown below represent values at which the respective financial instruments could be sold individually or in the aggregate. June 30, 2017 Carrying Amount Fair Value Level (In thousands) Financial assets: Cash and cash equivalents $ 460,488 $ 460,488 1 Federal funds sold — — N/A Investment securities – held-to-maturity 254,161 258,682 2 Loans receivable, net of impaired loans and allowance 7,679,164 7,517,442 3 Accrued interest receivable 32,445 32,445 1 Financial liabilities: Deposits: Demand and non-interest $ 1,957,677 $ 1,957,677 1 Savings and interest-bearing transaction accounts 4,335,456 4,335,456 1 Time deposits 1,474,255 1,459,915 3 Federal funds purchased — — N/A Securities sold under agreements to repurchase 133,741 133,741 1 FHLB and other borrowed funds 1,099,478 1,100,398 2 Accrued interest payable 6,619 6,619 1 Subordinated debentures 357,838 357,838 3 December 31, 2016 Carrying Amount Fair Value Level (In thousands) Financial assets: Cash and cash equivalents $ 216,649 $ 216,649 1 Federal funds sold 1,550 1,550 1 Investment securities – held-to-maturity 284,176 287,038 2 Loans receivable, net of impaired loans and allowance 7,216,199 7,131,199 3 Accrued interest receivable 30,838 30,838 1 Financial liabilities: Deposits: Demand and non-interest $ 1,695,184 $ 1,695,184 1 Savings and interest-bearing transaction accounts 3,963,241 3,963,241 1 Time deposits 1,284,002 1,275,634 3 Securities sold under agreements to repurchase 121,290 121,290 1 FHLB and other borrowed funds 1,305,198 1,311,280 2 Accrued interest payable 1,920 1,920 1 Subordinated debentures 60,826 60,826 3 |
Nature of Operations and Summ44
Nature of Operations and Summary of Significant Accounting Policies - Additional Information (Detail) | 6 Months Ended |
Jun. 30, 2017Segments | |
Accounting Policies [Abstract] | |
Number of Reportable Segments | 1 |
Nature of Operations and Summ45
Nature of Operations and Summary of Significant Accounting Policies - Computation of Basic and Diluted Earnings per Common Share (EPS) (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Dec. 31, 2016 | Jun. 30, 2016 | |
Earnings Per Share [Abstract] | |||||
Net income | $ 50,097 | $ 43,509 | $ 96,953 | $ 92,210 | $ 84,936 |
Average shares outstanding | 143,282 | 140,382 | 142,538 | 140,386 | |
Effect of common stock options | 834 | 226 | 732 | 281 | |
Average diluted shares outstanding | 144,116 | 140,608 | 143,270 | 140,667 | |
Basic earnings per share | $ 0.35 | $ 0.31 | $ 0.68 | $ 0.61 | |
Diluted earnings per share | $ 0.35 | $ 0.31 | $ 0.68 | $ 0.60 |
Business Combinations - Acquisi
Business Combinations - Acquisition of Giant Holdings, Inc. - Additional Information (Detail) | Mar. 27, 2017USD ($) | Feb. 23, 2017USD ($)BankingCentersshares | Jun. 30, 2017USD ($) | Dec. 31, 2016USD ($) |
Business Acquisition [Line Items] | ||||
Loans purchased | $ 1,360,000,000 | $ 1,130,000,000 | ||
Amount of discount on purchased loans | $ 95,600,000 | $ 100,100,000 | ||
Maximum [Member] | ||||
Business Acquisition [Line Items] | ||||
Business combination consideration paid | $ 35.19 | |||
Giant Holdings, Inc. [Member] | ||||
Business Acquisition [Line Items] | ||||
Business acquisition date | Feb. 23, 2017 | |||
Business combination consideration paid | $ 96,015,000 | |||
Business combination, common stock issued, shares | shares | 2,738,038 | |||
Business combination, common stock issued, value | $ 77,500,000 | |||
Business combination consideration paid in cash | 18,500,000 | |||
Business combination, recognized identifiable assets acquired, Total Assets | 398,100,000 | |||
Loan discounts | 3,600,000 | |||
Business acquisition of investment securities | 1,956,000 | |||
Loans purchased | 315,600,000 | |||
Amount of discount on purchased loans | 1,600,000 | |||
Business acquisition of bank premises and equipment | 608,000 | |||
Effective tax rates | 39.225% | |||
Core deposit intangible | 3,410,000 | |||
Customer deposits assumed pursuant to agreement | 303,995,000 | |||
Giant Holdings, Inc. [Member] | Maximum [Member] | ||||
Business Acquisition [Line Items] | ||||
Percentage of total assets | 5.00% | |||
Giant Holdings, Inc. [Member] | Credit Impaired Loans [Member] | ||||
Business Acquisition [Line Items] | ||||
Loan discounts | 4,500,000 | |||
Loans purchased | 20,300,000 | |||
Giant Holdings, Inc. [Member] | Fair Value Adjustments [Member] | ||||
Business Acquisition [Line Items] | ||||
Business combination, recognized identifiable assets acquired, Total Assets | 3,211,000 | |||
Business acquisition of investment securities | (5,000) | |||
Core deposit intangible | 3,238,000 | |||
Customer deposits assumed pursuant to agreement | $ 324,000 | |||
Giant Holdings, Inc. [Member] | Florida [Member] | ||||
Business Acquisition [Line Items] | ||||
Number of banking locations | BankingCenters | 6 | |||
Business combination, recognized identifiable assets acquired, Total Assets | $ 398,100,000 | |||
Business combination, recognized identifiable liabilities assumed, Loans | 327,800,000 | |||
Business combination, recognized identifiable assets acquired, Deposits | 304,000,000 | |||
Loan discounts | $ 8,100,000 |
Business Combinations - Breakdo
Business Combinations - Breakdown of Assets Acquired and Liabilities Assumed (Detail) - USD ($) | Feb. 28, 2017 | Feb. 23, 2017 | Jun. 30, 2017 | Dec. 31, 2016 | Dec. 31, 2015 |
Equity | |||||
Goodwill | $ 420,941,000 | $ 377,983,000 | $ 377,983,000 | ||
Giant Holdings, Inc. [Member] | |||||
Assets | |||||
Cash and due from banks | $ 41,019,000 | ||||
Interest-bearing deposits with other banks | 4,058,000 | ||||
Investment securities | 1,956,000 | ||||
Loans receivable | 329,369,000 | ||||
Loans receivable, net | 329,369,000 | ||||
Bank premises and equipment, net | 2,719,000 | ||||
Cash value of life insurance | 10,861,000 | ||||
Accrued interest receivable | 850,000 | ||||
Deferred tax asset | 4,093,000 | ||||
Core deposit intangible | 3,410,000 | ||||
Other assets | (235,000) | ||||
Total assets acquired | 398,100,000 | ||||
Deposits | |||||
Demand and non-interest-bearing | 75,993,000 | ||||
Savings and interest-bearing transaction accounts | 139,459,000 | ||||
Time deposits | 88,543,000 | ||||
Total deposits | 303,995,000 | ||||
FHLB borrowed funds | 26,478,000 | ||||
Accrued interest payable and other liabilities | 14,570,000 | ||||
Total liabilities assumed | 345,043,000 | ||||
Equity | |||||
Total liabilities and equity assumed | 345,043,000 | ||||
Net assets acquired | 53,057,000 | ||||
Purchase price | 96,015,000 | ||||
Goodwill | 42,958,000 | ||||
The Bank of Commerce [Member] | |||||
Assets | |||||
Cash and due from banks | $ 4,610,000 | ||||
Interest-bearing deposits with other banks | 14,360,000 | ||||
Investment securities | 25,813,000 | ||||
Loans receivable | 118,538,000 | ||||
Loans receivable, net | 118,538,000 | ||||
Bank premises and equipment, net | 1,887,000 | ||||
Foreclosed assets held for sale | 5,358,000 | ||||
Accrued interest receivable | 481,000 | ||||
Deferred tax asset | 4,198,000 | ||||
Core deposit intangible | 968,000 | ||||
Other assets | 1,880,000 | ||||
Total assets acquired | 178,093,000 | ||||
Deposits | |||||
Demand and non-interest-bearing | 27,245,000 | ||||
Savings and interest-bearing transaction accounts | 32,300,000 | ||||
Time deposits | 80,215,000 | ||||
Total deposits | 139,760,000 | ||||
FHLB borrowed funds | 30,042,000 | ||||
Accrued interest payable and other liabilities | 309,000 | ||||
Total liabilities assumed | 170,111,000 | ||||
Equity | |||||
Total equity assumed | 0 | ||||
Net assets acquired | 7,982,000 | ||||
Purchase price | 4,175,000 | ||||
Pre-tax gain on acquisition | 3,807,000 | ||||
Acquired from Acquisition [Member] | Giant Holdings, Inc. [Member] | |||||
Assets | |||||
Cash and due from banks | 41,019,000 | ||||
Interest-bearing deposits with other banks | 4,057,000 | ||||
Investment securities | 1,961,000 | ||||
Loans receivable | 335,886,000 | ||||
Allowance for loan losses | (4,568,000) | ||||
Loans receivable, net | 331,318,000 | ||||
Bank premises and equipment, net | 2,111,000 | ||||
Cash value of life insurance | 10,861,000 | ||||
Accrued interest receivable | 850,000 | ||||
Deferred tax asset | 2,286,000 | ||||
Core deposit intangible | 172,000 | ||||
Other assets | 254,000 | ||||
Total assets acquired | 394,889,000 | ||||
Deposits | |||||
Demand and non-interest-bearing | 75,993,000 | ||||
Savings and interest-bearing transaction accounts | 139,459,000 | ||||
Time deposits | 88,219,000 | ||||
Total deposits | 303,671,000 | ||||
FHLB borrowed funds | 26,047,000 | ||||
Accrued interest payable and other liabilities | 14,552,000 | ||||
Total liabilities assumed | 344,270,000 | ||||
Equity | |||||
Total equity assumed | 50,619,000 | ||||
Total liabilities and equity assumed | 394,889,000 | ||||
Acquired from Acquisition [Member] | The Bank of Commerce [Member] | |||||
Assets | |||||
Cash and due from banks | 4,610,000 | ||||
Interest-bearing deposits with other banks | 14,360,000 | ||||
Investment securities | 25,926,000 | ||||
Loans receivable | 124,289,000 | ||||
Allowance for loan losses | (2,037,000) | ||||
Loans receivable, net | 122,252,000 | ||||
Bank premises and equipment, net | 1,887,000 | ||||
Foreclosed assets held for sale | 8,523,000 | ||||
Accrued interest receivable | 481,000 | ||||
Other assets | 1,880,000 | ||||
Total assets acquired | 179,919,000 | ||||
Deposits | |||||
Demand and non-interest-bearing | 27,245,000 | ||||
Savings and interest-bearing transaction accounts | 32,300,000 | ||||
Time deposits | 79,945,000 | ||||
Total deposits | 139,490,000 | ||||
FHLB borrowed funds | 30,000,000 | ||||
Accrued interest payable and other liabilities | 564,000 | ||||
Total liabilities assumed | 170,054,000 | ||||
Fair Value Adjustments [Member] | Giant Holdings, Inc. [Member] | |||||
Assets | |||||
Interest-bearing deposits with other banks | 1,000 | ||||
Investment securities | (5,000) | ||||
Loans receivable | (6,517,000) | ||||
Allowance for loan losses | 4,568,000 | ||||
Loans receivable, net | (1,949,000) | ||||
Bank premises and equipment, net | 608,000 | ||||
Deferred tax asset | 1,807,000 | ||||
Core deposit intangible | 3,238,000 | ||||
Other assets | (489,000) | ||||
Total assets acquired | 3,211,000 | ||||
Deposits | |||||
Time deposits | 324,000 | ||||
Total deposits | 324,000 | ||||
FHLB borrowed funds | 431,000 | ||||
Accrued interest payable and other liabilities | 18,000 | ||||
Total liabilities assumed | 773,000 | ||||
Equity | |||||
Total equity assumed | (50,619,000) | ||||
Total liabilities and equity assumed | $ (49,846,000) | ||||
Fair Value Adjustments [Member] | The Bank of Commerce [Member] | |||||
Assets | |||||
Investment securities | (113,000) | ||||
Loans receivable | (5,751,000) | ||||
Allowance for loan losses | 2,037,000 | ||||
Loans receivable, net | (3,714,000) | ||||
Foreclosed assets held for sale | (3,165,000) | ||||
Deferred tax asset | 4,198,000 | ||||
Core deposit intangible | 968,000 | ||||
Total assets acquired | (1,826,000) | ||||
Deposits | |||||
Time deposits | 270,000 | ||||
Total deposits | 270,000 | ||||
FHLB borrowed funds | 42,000 | ||||
Accrued interest payable and other liabilities | (255,000) | ||||
Total liabilities assumed | $ 57,000 |
Business Combinations - Acqui48
Business Combinations - Acquisition of The Bank of Commerce - Additional Information (Detail) | Mar. 27, 2017USD ($)$ / shares | Feb. 28, 2017USD ($)BankingCenters | Jun. 30, 2017USD ($)BankingCenters | Dec. 31, 2016USD ($) |
Business Acquisition [Line Items] | ||||
Loans purchased | $ 1,360,000,000 | $ 1,130,000,000 | ||
Number of trading days | 20 days | |||
The Bank of Commerce [Member] | ||||
Business Acquisition [Line Items] | ||||
Business acquisition date | Feb. 28, 2017 | |||
Business combination consideration paid | $ 4,175,000 | |||
Business combination, recognized identifiable assets acquired, Total Assets | 178,093,000 | |||
Loan discounts | 3,000,000 | |||
Business acquisition of investment securities | 25,813,000 | |||
Loans purchased | 106,800,000 | |||
Effective tax rates | 39.225% | |||
Core deposit intangible | 968,000 | |||
Customer deposits assumed pursuant to agreement | $ 139,760,000 | |||
The Bank of Commerce [Member] | Florida [Member] | ||||
Business Acquisition [Line Items] | ||||
Number of banking locations | BankingCenters | 3 | |||
Business combination, recognized identifiable assets acquired, Total Assets | $ 178,100,000 | |||
Business combination, recognized identifiable liabilities assumed, Loans | 118,500,000 | |||
Business combination, recognized identifiable assets acquired, Deposits | 139,800,000 | |||
Loan discounts | 5,800,000 | |||
The Bank of Commerce [Member] | Credit Impaired Loans [Member] | ||||
Business Acquisition [Line Items] | ||||
Loan discounts | 2,800,000 | |||
Loans purchased | 17,500,000 | |||
Stonegate Bank [Member] | Florida [Member] | ||||
Business Acquisition [Line Items] | ||||
Number of banking locations | BankingCenters | 24 | |||
Business combination, recognized identifiable assets acquired, Total Assets | $ 3,130,000,000 | |||
Business combination, recognized identifiable liabilities assumed, Loans | 2,440,000,000 | |||
Business combination, recognized identifiable assets acquired, Deposits | $ 2,620,000,000 | |||
Stonegate Bank [Member] | Shareholders [Member] | ||||
Business Acquisition [Line Items] | ||||
Business combination consideration paid | $ 749,800,000 | |||
Business combination consideration paid in cash | 50,000,000 | |||
Business combination, common stock issued, value | 699,700,000 | |||
Stonegate Bank [Member] | Optionholders [Member] | ||||
Business Acquisition [Line Items] | ||||
Business combination consideration paid in cash | 28,600,000 | |||
Maximum [Member] | ||||
Business Acquisition [Line Items] | ||||
Business combination consideration paid | $ 35.19 | |||
Average closing price | $ / shares | $ 35.19 | |||
Maximum [Member] | The Bank of Commerce [Member] | ||||
Business Acquisition [Line Items] | ||||
Percentage of total assets | 5.00% | |||
Minimum [Member] | ||||
Business Acquisition [Line Items] | ||||
Business combination consideration paid | $ 22.52 | |||
Average closing price | $ / shares | $ 22.52 | |||
Fair Value Adjustments [Member] | The Bank of Commerce [Member] | ||||
Business Acquisition [Line Items] | ||||
Business combination, recognized identifiable assets acquired, Total Assets | (1,826,000) | |||
Business acquisition of investment securities | (113,000) | |||
Core deposit intangible | 968,000 | |||
Customer deposits assumed pursuant to agreement | $ 270,000 |
Investment Securities - Amortiz
Investment Securities - Amortized Cost and Estimated Fair Value of Investment Securities Classified as Available-for-Sale (Detail) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | $ 1,389,830 | $ 1,072,262 |
Gross Unrealized Gains | 14,229 | 9,108 |
Gross Unrealized (Losses) | (3,628) | (8,450) |
Estimated Fair Value | 1,400,431 | 1,072,920 |
U.S. Government-Sponsored Enterprises [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 354,594 | 237,439 |
Gross Unrealized Gains | 2,544 | 963 |
Gross Unrealized (Losses) | (461) | (1,641) |
Estimated Fair Value | 356,677 | 236,761 |
Residential Mortgage-Backed Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 335,446 | 259,037 |
Gross Unrealized Gains | 1,284 | 1,226 |
Gross Unrealized (Losses) | (923) | (1,627) |
Estimated Fair Value | 335,807 | 258,636 |
Commercial Mortgage-Backed Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 426,988 | 322,316 |
Gross Unrealized Gains | 2,323 | 845 |
Gross Unrealized (Losses) | (1,259) | (2,342) |
Estimated Fair Value | 428,052 | 320,819 |
State and Political Subdivisions [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 236,216 | 215,209 |
Gross Unrealized Gains | 5,318 | 3,471 |
Gross Unrealized (Losses) | (610) | (2,181) |
Estimated Fair Value | 240,924 | 216,499 |
Other Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 36,586 | 38,261 |
Gross Unrealized Gains | 2,760 | 2,603 |
Gross Unrealized (Losses) | (375) | (659) |
Estimated Fair Value | $ 38,971 | $ 40,205 |
Investment Securities - Schedul
Investment Securities - Schedule of Amortized Cost and Estimated Fair Value of Investment Securities Classified as Held-to-Maturity (Detail) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Schedule of Held-to-maturity Securities [Line Items] | ||
Estimated Fair Value | $ 254,161 | $ 284,176 |
Held-to-Maturity [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Amortized Cost | 254,161 | 284,176 |
Gross Unrealized Gains | 4,657 | 3,497 |
Gross Unrealized (Losses) | (136) | (635) |
Estimated Fair Value | 258,682 | 287,038 |
U.S. Government-Sponsored Enterprises [Member] | Held-to-Maturity [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Amortized Cost | 6,212 | 6,637 |
Gross Unrealized Gains | 41 | 23 |
Gross Unrealized (Losses) | (32) | |
Estimated Fair Value | 6,253 | 6,628 |
Residential Mortgage-Backed Securities [Member] | Held-to-Maturity [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Amortized Cost | 64,462 | 71,956 |
Gross Unrealized Gains | 276 | 267 |
Gross Unrealized (Losses) | (130) | (301) |
Estimated Fair Value | 64,608 | 71,922 |
Commercial Mortgage-Backed Securities [Member] | Held-to-Maturity [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Amortized Cost | 20,648 | 35,863 |
Gross Unrealized Gains | 301 | 107 |
Gross Unrealized (Losses) | (6) | (133) |
Estimated Fair Value | 20,943 | 35,837 |
State and Political Subdivisions [Member] | Held-to-Maturity [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Amortized Cost | 162,839 | 169,720 |
Gross Unrealized Gains | 4,039 | 3,100 |
Gross Unrealized (Losses) | (169) | |
Estimated Fair Value | $ 166,878 | $ 172,651 |
Investment Securities - Additio
Investment Securities - Additional Information (Detail) - USD ($) | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | Dec. 31, 2016 | |
Available-for-sale Securities [Abstract] | |||||
Carrying value of investment securities | $ 1,400,000,000 | $ 1,400,000,000 | $ 1,070,000,000 | ||
Investment securities pledged as collateral | 133,700,000 | 133,700,000 | 121,300,000 | ||
Available for sale securities sold | 12,000,000 | $ 844,000 | 27,134,000 | $ 2,221,000 | |
Gross realized gains on sale | 514,000 | $ 15,000 | 937,000 | $ 25,000 | |
Gross realized loss on sale | 127,000 | $ 127,000 | |||
Income tax expense benefit to net security gains and losses | 39.225% | 39.225% | |||
Held-to-maturity securities sold | 483,000 | $ 491,000 | |||
Gross realized loss on sale of held-to-maturity | 7,000 | 7,000 | |||
Other-than-temporary impairment of securities | 0 | 0 | |||
Fair value of unrealized losses on investment securities | $ 1,375,000 | $ 1,375,000 | $ 1,619,000 | ||
Percentage of Company's investment portfolio | 75.30% | ||||
Maturity description of investment portfolio | Five years or less |
Investment Securities - Amort52
Investment Securities - Amortized Cost and Estimated Fair Value of Securities Contractual Maturity (Detail) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Available-for-Sale Securities, Amortized Cost | ||
Due in one year or less, Amortized Cost | $ 164,728 | |
Due after one year through five years, Amortized Cost | 892,526 | |
Due after five years through ten years, Amortized Cost | 240,776 | |
Due after ten years, Amortized Cost | 91,800 | |
Total, Amortized Cost | 1,389,830 | |
Available-for-Sale Securities, Estimated Fair Value | ||
Due in one year or less, Estimated Fair Value | 167,278 | |
Due after one year through five years, Estimated Fair Value | 898,424 | |
Due after five years through ten years, Estimated Fair Value | 242,080 | |
Due after ten years, Estimated Fair Value | 92,649 | |
Total, Estimated Fair Value | 1,400,431 | $ 1,072,920 |
Held-to-Maturity Securities, Amortized Cost | ||
Due in one year or less, Held to Maturity Amortized Cost | 57,697 | |
Due after one year through five years, Held to Maturity Amortized Cost | 122,334 | |
Due after five years through ten years, Held to Maturity Amortized Cost | 17,895 | |
Due after ten years, Held to Maturity Amortized Cost | 56,235 | |
Total, Held to Maturity Amortized Cost | 254,161 | $ 284,176 |
Held-to-Maturity Securities, Estimated Fair Value | ||
Due in one year or less, Held to Maturity Estimated Fair Value | 59,065 | |
Due after one year through five years, Held to Maturity Estimated Fair Value | 124,901 | |
Due after five years through ten years, Held to Maturity Estimated Fair Value | 18,214 | |
Due after ten years, Held to Maturity Estimated Fair Value | 56,502 | |
Total, Held to Maturity Estimated Fair Value | $ 258,682 |
Investment Securities - Unreali
Investment Securities - Unrealized Losses and Estimated Fair Value of Investment Securities Available for Sale and Held to Maturity (Detail) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Schedule of Available-for-sale Securities [Line Items] | ||
Fair Value of Available-for-Sale Securities, Less Than 12 Months | $ 367,822 | $ 584,435 |
Unrealized Losses of Available-for-Sale Securities, Less Than 12 Months | (2,389) | (7,466) |
Fair Value of Available-for-Sale Securities, 12 Months or More | 111,152 | 118,153 |
Unrealized Losses of Available-for-Sale Securities, 12 Months or More | (1,375) | (1,619) |
Fair Value of Available-for-Sale Securities, Total | 478,974 | 702,588 |
Unrealized Losses of Available-for-Sale Securities, Total | (3,764) | (9,085) |
U.S. Government-Sponsored Enterprises [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Fair Value of Available-for-Sale Securities, Less Than 12 Months | 51,957 | 98,180 |
Unrealized Losses of Available-for-Sale Securities, Less Than 12 Months | (283) | (1,031) |
Fair Value of Available-for-Sale Securities, 12 Months or More | 39,341 | 75,044 |
Unrealized Losses of Available-for-Sale Securities, 12 Months or More | (178) | (642) |
Fair Value of Available-for-Sale Securities, Total | 91,298 | 173,224 |
Unrealized Losses of Available-for-Sale Securities, Total | (461) | (1,673) |
Residential Mortgage-Backed Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Fair Value of Available-for-Sale Securities, Less Than 12 Months | 158,147 | 188,117 |
Unrealized Losses of Available-for-Sale Securities, Less Than 12 Months | (716) | (1,742) |
Fair Value of Available-for-Sale Securities, 12 Months or More | 22,917 | 8,902 |
Unrealized Losses of Available-for-Sale Securities, 12 Months or More | (337) | (186) |
Fair Value of Available-for-Sale Securities, Total | 181,064 | 197,019 |
Unrealized Losses of Available-for-Sale Securities, Total | (1,053) | (1,928) |
Commercial Mortgage-Backed Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Fair Value of Available-for-Sale Securities, Less Than 12 Months | 125,079 | 202,289 |
Unrealized Losses of Available-for-Sale Securities, Less Than 12 Months | (764) | (2,220) |
Fair Value of Available-for-Sale Securities, 12 Months or More | 38,801 | 21,020 |
Unrealized Losses of Available-for-Sale Securities, 12 Months or More | (501) | (255) |
Fair Value of Available-for-Sale Securities, Total | 163,880 | 223,309 |
Unrealized Losses of Available-for-Sale Securities, Total | (1,265) | (2,475) |
State and Political Subdivisions [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Fair Value of Available-for-Sale Securities, Less Than 12 Months | 31,058 | 94,309 |
Unrealized Losses of Available-for-Sale Securities, Less Than 12 Months | (591) | (2,348) |
Fair Value of Available-for-Sale Securities, 12 Months or More | 1,698 | 500 |
Unrealized Losses of Available-for-Sale Securities, 12 Months or More | (19) | (2) |
Fair Value of Available-for-Sale Securities, Total | 32,756 | 94,809 |
Unrealized Losses of Available-for-Sale Securities, Total | (610) | (2,350) |
Other Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Fair Value of Available-for-Sale Securities, Less Than 12 Months | 1,581 | 1,540 |
Unrealized Losses of Available-for-Sale Securities, Less Than 12 Months | (35) | (125) |
Fair Value of Available-for-Sale Securities, 12 Months or More | 8,395 | 12,687 |
Unrealized Losses of Available-for-Sale Securities, 12 Months or More | (340) | (534) |
Fair Value of Available-for-Sale Securities, Total | 9,976 | 14,227 |
Unrealized Losses of Available-for-Sale Securities, Total | $ (375) | $ (659) |
Investment Securities - Sched54
Investment Securities - Schedule of Income Earned on Securities (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
Investment Income [Line Items] | ||||
Income earned on securities, taxable | $ 6,434 | $ 5,145 | $ 11,912 | $ 10,595 |
Income earned on securities, Non-taxable | 2,966 | 2,823 | 5,910 | 5,638 |
Income earned on securities, total | 9,400 | 7,968 | 17,822 | 16,233 |
Available-for-sale [Member] | ||||
Investment Income [Line Items] | ||||
Income earned on securities, taxable | 5,680 | 4,344 | 10,474 | 8,911 |
Income earned on securities, Non-taxable | 1,583 | 1,565 | 3,130 | 3,139 |
Held-to-Maturity [Member] | ||||
Investment Income [Line Items] | ||||
Income earned on securities, taxable | 754 | 801 | 1,438 | 1,684 |
Income earned on securities, Non-taxable | $ 1,383 | $ 1,258 | $ 2,780 | $ 2,499 |
Loans Receivable - Summary of V
Loans Receivable - Summary of Various Categories of Loans Receivable (Detail) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable | $ 7,834,475 | $ 7,387,699 |
Multifamily Residential [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable | 398,781 | 340,926 |
Commercial Real Estate Non Farm Nonresidential [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable | 3,368,663 | 3,153,121 |
Commercial Real Estate Construction Land Development Loan [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable | 1,315,309 | 1,135,843 |
Agricultural [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable | 78,260 | 77,736 |
Residential 1-4 Family [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable | 1,513,888 | 1,356,136 |
Residential and Commercial Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable | 6,674,901 | 6,063,762 |
Agricultural [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable | 69,697 | 74,673 |
Other [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable | 56,626 | 84,306 |
Consumer [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable | 38,424 | 41,745 |
Commercial and Industrial [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable | $ 994,827 | $ 1,123,213 |
Loans Receivable - Additional I
Loans Receivable - Additional Information (Detail) - USD ($) | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | Dec. 31, 2016 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Mortgage loans held for sale | $ 45,800,000 | $ 45,800,000 | $ 56,200,000 | ||
Purchased loans | 1,360,000,000 | 1,360,000,000 | 1,130,000,000 | ||
Amount of discount for credit losses on purchased loans | 95,600,000 | 95,600,000 | 100,100,000 | ||
Non-accretable discount for credit losses on purchased loans | 37,600,000 | 37,600,000 | 35,300,000 | ||
Accretable discount for credit losses on purchased loans | 58,000,000 | 58,000,000 | $ 64,900,000 | ||
SBA Loans [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans sold during period | 5,800,000 | $ 1,200,000 | 9,800,000 | $ 1,200,000 | |
Gain on sale of guaranteed portion of loans | $ 387,000 | $ 79,000 | $ 575,000 | $ 79,000 |
Allowance for Loan Losses, Cr57
Allowance for Loan Losses, Credit Quality and Other - Summary of Changes in Allowance for Loan Losses (Detail) $ in Thousands | 6 Months Ended |
Jun. 30, 2017USD ($) | |
Receivables [Abstract] | |
Beginning balance | $ 80,002 |
Loans charged off | (6,111) |
Recoveries of loans previously charged off | 1,946 |
Net loans recovered (charged off) | (4,165) |
Provision for loan losses | 4,301 |
Ending balance | $ 80,138 |
Allowance for Loan Losses, Cr58
Allowance for Loan Losses, Credit Quality and Other - Balance of Allowance for Loan Losses (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||||
Jun. 30, 2017 | Jun. 30, 2017 | Dec. 31, 2016 | Jun. 30, 2016 | Jun. 30, 2017 | Dec. 31, 2016 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Beginning balance | $ 80,002 | |||||
Loans charged off | (6,111) | |||||
Recoveries of loans previously charged off | 1,946 | |||||
Net loans recovered (charged off) | (4,165) | |||||
Provision for loan losses | 4,301 | |||||
Ending balance | $ 80,138 | 80,138 | $ 80,002 | |||
Loans individually evaluated for impairment | $ 0 | $ 0 | ||||
Purchased credit impaired loans | 95,600 | 100,100 | ||||
Allowance for loan losses | 80,138 | 80,138 | 80,002 | 80,138 | 80,002 | |
Loans evaluated for impairment, ending balance | 7,667,863 | 7,228,135 | ||||
Purchased credit impaired loans | 166,612 | 159,564 | ||||
Total Loans Receivable | 7,834,475 | 7,387,699 | ||||
Commercial and Industrial [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans evaluated for impairment, ending balance | 982,055 | 1,111,764 | ||||
Total Loans Receivable | 994,827 | 1,123,213 | ||||
Loans Receivable [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Total Loans Receivable | 7,834,475 | 7,387,699 | ||||
Loans Receivable [Member] | Allowance for Loan Losses [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Beginning balance | 80,311 | 80,002 | 74,341 | $ 69,224 | ||
Loans charged off | (1,405) | (6,111) | (9,187) | (8,314) | ||
Recoveries of loans previously charged off | 845 | 1,946 | 7,609 | 2,062 | ||
Net loans recovered (charged off) | (560) | (4,165) | (1,578) | (6,252) | ||
Provision for loan losses | 387 | 4,301 | 7,239 | 11,369 | ||
Ending balance | 80,138 | 80,138 | 80,002 | 74,341 | ||
Loans individually evaluated for impairment | 3,691 | 1,629 | ||||
Loans collectively evaluated for impairment | 75,381 | 76,503 | ||||
Loans evaluated for impairment, ending balance | 79,072 | 78,132 | ||||
Purchased credit impaired loans | 1,066 | 1,870 | ||||
Allowance for loan losses | 80,311 | 80,138 | 74,341 | 74,341 | 80,138 | 80,002 |
Loans Receivable [Member] | Loans Receivable [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans individually evaluated for impairment | 127,147 | 149,253 | ||||
Loans collectively evaluated for impairment | 7,540,716 | 7,078,882 | ||||
Loans evaluated for impairment, ending balance | 7,667,863 | 7,228,135 | ||||
Purchased credit impaired loans | 166,612 | 159,564 | ||||
Total Loans Receivable | 7,834,475 | 7,387,699 | ||||
Loans Receivable [Member] | Residential Real Estate Loans [Member] | Allowance for Loan Losses [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Beginning balance | 18,240 | 16,517 | 15,688 | 14,818 | ||
Loans charged off | (397) | (2,288) | (3,291) | (2,306) | ||
Recoveries of loans previously charged off | 121 | 254 | 464 | 688 | ||
Net loans recovered (charged off) | (276) | (2,034) | (2,827) | (1,618) | ||
Provision for loan losses | (249) | 3,232 | 3,656 | 2,488 | ||
Ending balance | 17,715 | 17,715 | 16,517 | 15,688 | ||
Loans individually evaluated for impairment | 228 | 103 | ||||
Loans collectively evaluated for impairment | 16,880 | 15,796 | ||||
Loans evaluated for impairment, ending balance | 17,108 | 15,899 | ||||
Purchased credit impaired loans | 607 | 618 | ||||
Allowance for loan losses | 18,240 | 17,715 | 15,688 | 15,688 | 17,715 | 16,517 |
Loans Receivable [Member] | Residential Real Estate Loans [Member] | Loans Receivable [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans individually evaluated for impairment | 24,779 | 35,187 | ||||
Loans collectively evaluated for impairment | 1,841,046 | 1,608,805 | ||||
Loans evaluated for impairment, ending balance | 1,865,825 | 1,643,992 | ||||
Purchased credit impaired loans | 46,844 | 53,070 | ||||
Total Loans Receivable | 1,912,669 | 1,697,062 | ||||
Loans Receivable [Member] | Commercial and Industrial [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Total Loans Receivable | 994,827 | 1,123,213 | ||||
Loans Receivable [Member] | Commercial and Industrial [Member] | Allowance for Loan Losses [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Beginning balance | 13,384 | 12,756 | 13,754 | 9,324 | ||
Loans charged off | (134) | (779) | (2,742) | (3,036) | ||
Recoveries of loans previously charged off | 70 | 252 | 4,919 | 614 | ||
Net loans recovered (charged off) | (64) | (527) | 2,177 | (2,422) | ||
Provision for loan losses | (492) | 599 | (3,175) | 6,852 | ||
Ending balance | 12,828 | 12,828 | 12,756 | 13,754 | ||
Loans individually evaluated for impairment | 2,138 | 95 | ||||
Loans collectively evaluated for impairment | 10,589 | 12,596 | ||||
Loans evaluated for impairment, ending balance | 12,727 | 12,691 | ||||
Purchased credit impaired loans | 101 | 65 | ||||
Allowance for loan losses | 13,384 | 12,828 | 13,754 | 13,754 | 12,828 | 12,756 |
Loans Receivable [Member] | Commercial and Industrial [Member] | Loans Receivable [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans individually evaluated for impairment | 10,031 | 25,873 | ||||
Loans collectively evaluated for impairment | 972,024 | 1,085,891 | ||||
Loans evaluated for impairment, ending balance | 982,055 | 1,111,764 | ||||
Purchased credit impaired loans | 12,772 | 11,449 | ||||
Total Loans Receivable | 994,827 | 1,123,213 | ||||
Loans Receivable [Member] | Unallocated [Member] | Allowance for Loan Losses [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Beginning balance | 4,321 | 6,831 | 2,330 | 2,486 | ||
Provision for loan losses | 1,526 | (984) | 4,501 | (156) | ||
Ending balance | 5,847 | 5,847 | 6,831 | 2,330 | ||
Loans collectively evaluated for impairment | 5,847 | 6,831 | ||||
Loans evaluated for impairment, ending balance | 5,847 | 6,831 | ||||
Allowance for loan losses | 4,321 | 5,847 | 2,330 | 2,330 | 5,847 | 6,831 |
Construction/Land Development [Member] | Loans Receivable [Member] | Allowance for Loan Losses [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Beginning balance | 12,073 | 11,522 | 12,335 | 10,782 | ||
Loans charged off | (119) | (326) | (229) | (153) | ||
Recoveries of loans previously charged off | 28 | 227 | 1,092 | 33 | ||
Net loans recovered (charged off) | (91) | (99) | 863 | (120) | ||
Provision for loan losses | 860 | 1,419 | (1,676) | 1,673 | ||
Ending balance | 12,842 | 12,842 | 11,522 | 12,335 | ||
Loans individually evaluated for impairment | 121 | 15 | ||||
Loans collectively evaluated for impairment | 12,718 | 11,463 | ||||
Loans evaluated for impairment, ending balance | 12,839 | 11,478 | ||||
Purchased credit impaired loans | 3 | 44 | ||||
Allowance for loan losses | 12,073 | 12,842 | 12,335 | 12,335 | 12,842 | 11,522 |
Construction/Land Development [Member] | Loans Receivable [Member] | Loans Receivable [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans individually evaluated for impairment | 38,672 | 12,374 | ||||
Loans collectively evaluated for impairment | 1,260,049 | 1,105,921 | ||||
Loans evaluated for impairment, ending balance | 1,298,721 | 1,118,295 | ||||
Purchased credit impaired loans | 16,588 | 17,548 | ||||
Total Loans Receivable | 1,315,309 | 1,135,843 | ||||
Other Commercial Real Estate [Member] | Loans Receivable [Member] | Allowance for Loan Losses [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Beginning balance | 28,923 | 28,188 | 24,848 | 26,798 | ||
Loans charged off | (191) | (1,655) | (1,737) | (1,849) | ||
Recoveries of loans previously charged off | 379 | 710 | 629 | 228 | ||
Net loans recovered (charged off) | 188 | (945) | (1,108) | (1,621) | ||
Provision for loan losses | (1,268) | 600 | 4,448 | (329) | ||
Ending balance | 27,843 | 27,843 | 28,188 | 24,848 | ||
Loans individually evaluated for impairment | 1,196 | 1,416 | ||||
Loans collectively evaluated for impairment | 26,297 | 25,641 | ||||
Loans evaluated for impairment, ending balance | 27,493 | 27,057 | ||||
Purchased credit impaired loans | 350 | 1,131 | ||||
Allowance for loan losses | 28,923 | 27,843 | 24,848 | 24,848 | 27,843 | 28,188 |
Other Commercial Real Estate [Member] | Loans Receivable [Member] | Loans Receivable [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans individually evaluated for impairment | 52,656 | 74,723 | ||||
Loans collectively evaluated for impairment | 3,306,528 | 3,080,201 | ||||
Loans evaluated for impairment, ending balance | 3,359,184 | 3,154,924 | ||||
Purchased credit impaired loans | 87,739 | 75,933 | ||||
Total Loans Receivable | 3,446,923 | 3,230,857 | ||||
Consumer & Other [Member] | Loans Receivable [Member] | Allowance for Loan Losses [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Beginning balance | 3,370 | 4,188 | 5,386 | 5,016 | ||
Loans charged off | (564) | (1,063) | (1,188) | (970) | ||
Recoveries of loans previously charged off | 247 | 503 | 505 | 499 | ||
Net loans recovered (charged off) | (317) | (560) | (683) | (471) | ||
Provision for loan losses | 10 | (565) | (515) | 841 | ||
Ending balance | 3,063 | 3,063 | 4,188 | 5,386 | ||
Loans individually evaluated for impairment | 8 | |||||
Loans collectively evaluated for impairment | 3,050 | 4,176 | ||||
Loans evaluated for impairment, ending balance | 3,058 | 4,176 | ||||
Purchased credit impaired loans | 5 | 12 | ||||
Allowance for loan losses | $ 3,370 | $ 3,063 | $ 5,386 | $ 5,386 | 3,063 | 4,188 |
Consumer & Other [Member] | Loans Receivable [Member] | Loans Receivable [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans individually evaluated for impairment | 1,009 | 1,096 | ||||
Loans collectively evaluated for impairment | 161,069 | 198,064 | ||||
Loans evaluated for impairment, ending balance | 162,078 | 199,160 | ||||
Purchased credit impaired loans | 2,669 | 1,564 | ||||
Total Loans Receivable | $ 164,747 | $ 200,724 |
Allowance for Loan Losses, Cr59
Allowance for Loan Losses, Credit Quality and Other - Summary of Aging Analysis for Loans Receivable (Detail) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans Receivable | $ 7,834,475 | $ 7,387,699 |
Multifamily Residential [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans Receivable | 398,781 | 340,926 |
Consumer [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans Receivable | 38,424 | 41,745 |
Commercial and Industrial [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans Receivable | 994,827 | 1,123,213 |
Loans Receivable [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 71,323 | 77,347 |
Current Loans | 7,763,152 | 7,310,352 |
Total Loans Receivable | 7,834,475 | 7,387,699 |
Accruing Loans Past Due 90 Days or More | 14,442 | 15,942 |
Loans Receivable [Member] | Multifamily Residential [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 1,367 | 262 |
Current Loans | 397,414 | 340,664 |
Total Loans Receivable | 398,781 | 340,926 |
Accruing Loans Past Due 90 Days or More | 1,367 | |
Loans Receivable [Member] | Consumer [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 329 | 344 |
Current Loans | 38,095 | 41,401 |
Total Loans Receivable | 38,424 | 41,745 |
Accruing Loans Past Due 90 Days or More | 6 | 21 |
Loans Receivable [Member] | Commercial and Industrial [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 7,303 | 5,030 |
Current Loans | 987,524 | 1,118,183 |
Total Loans Receivable | 994,827 | 1,123,213 |
Accruing Loans Past Due 90 Days or More | 141 | 309 |
Loans Receivable [Member] | Agricultural and Other [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 990 | 1,727 |
Current Loans | 125,333 | 157,252 |
Total Loans Receivable | 126,323 | 158,979 |
Loans Past Due 30-59 Days [Member] | Loans Receivable [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 18,678 | 11,576 |
Loans Past Due 30-59 Days [Member] | Loans Receivable [Member] | Consumer [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 133 | 117 |
Loans Past Due 30-59 Days [Member] | Loans Receivable [Member] | Commercial and Industrial [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 2,619 | 984 |
Loans Past Due 30-59 Days [Member] | Loans Receivable [Member] | Agricultural and Other [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 287 | 782 |
Loans Past Due 60-89 Days [Member] | Loans Receivable [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 5,777 | 2,647 |
Loans Past Due 60-89 Days [Member] | Loans Receivable [Member] | Consumer [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 58 | 66 |
Loans Past Due 60-89 Days [Member] | Loans Receivable [Member] | Commercial and Industrial [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 685 | 582 |
Loans Past Due 60-89 Days [Member] | Loans Receivable [Member] | Agricultural and Other [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 10 | |
Loans Past Due 90 Days or More [Member] | Loans Receivable [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 46,868 | 63,124 |
Loans Past Due 90 Days or More [Member] | Loans Receivable [Member] | Multifamily Residential [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 1,367 | 262 |
Loans Past Due 90 Days or More [Member] | Loans Receivable [Member] | Consumer [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 138 | 161 |
Loans Past Due 90 Days or More [Member] | Loans Receivable [Member] | Commercial and Industrial [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 3,999 | 3,464 |
Loans Past Due 90 Days or More [Member] | Loans Receivable [Member] | Agricultural and Other [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 703 | 935 |
Commercial Real Estate Non Farm Nonresidential [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans Receivable | 3,368,663 | 3,153,121 |
Commercial Real Estate Non Farm Nonresidential [Member] | Loans Receivable [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 23,548 | 30,240 |
Current Loans | 3,345,115 | 3,122,881 |
Total Loans Receivable | 3,368,663 | 3,153,121 |
Accruing Loans Past Due 90 Days or More | 8,202 | 9,530 |
Commercial Real Estate Non Farm Nonresidential [Member] | Loans Past Due 30-59 Days [Member] | Loans Receivable [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 4,757 | 2,036 |
Commercial Real Estate Non Farm Nonresidential [Member] | Loans Past Due 60-89 Days [Member] | Loans Receivable [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 914 | 686 |
Commercial Real Estate Non Farm Nonresidential [Member] | Loans Past Due 90 Days or More [Member] | Loans Receivable [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 17,877 | 27,518 |
Commercial Real Estate Construction Land Development Loan [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans Receivable | 1,315,309 | 1,135,843 |
Commercial Real Estate Construction Land Development Loan [Member] | Loans Receivable [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 11,575 | 7,743 |
Current Loans | 1,303,734 | 1,128,100 |
Total Loans Receivable | 1,315,309 | 1,135,843 |
Accruing Loans Past Due 90 Days or More | 3,176 | 3,086 |
Commercial Real Estate Construction Land Development Loan [Member] | Loans Past Due 30-59 Days [Member] | Loans Receivable [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 5,962 | 685 |
Commercial Real Estate Construction Land Development Loan [Member] | Loans Past Due 60-89 Days [Member] | Loans Receivable [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 72 | 16 |
Commercial Real Estate Construction Land Development Loan [Member] | Loans Past Due 90 Days or More [Member] | Loans Receivable [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 5,541 | 7,042 |
Agricultural [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans Receivable | 78,260 | 77,736 |
Agricultural [Member] | Loans Receivable [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 460 | 435 |
Current Loans | 77,800 | 77,301 |
Total Loans Receivable | 78,260 | 77,736 |
Agricultural [Member] | Loans Past Due 30-59 Days [Member] | Loans Receivable [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 346 | |
Agricultural [Member] | Loans Past Due 90 Days or More [Member] | Loans Receivable [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 114 | 435 |
Residential 1-4 Family [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans Receivable | 1,513,888 | 1,356,136 |
Residential 1-4 Family [Member] | Loans Receivable [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 25,751 | 31,566 |
Current Loans | 1,488,137 | 1,324,570 |
Total Loans Receivable | 1,513,888 | 1,356,136 |
Accruing Loans Past Due 90 Days or More | 1,550 | 2,996 |
Residential 1-4 Family [Member] | Loans Past Due 30-59 Days [Member] | Loans Receivable [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 4,574 | 6,972 |
Residential 1-4 Family [Member] | Loans Past Due 60-89 Days [Member] | Loans Receivable [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 4,048 | 1,287 |
Residential 1-4 Family [Member] | Loans Past Due 90 Days or More [Member] | Loans Receivable [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 17,129 | 23,307 |
Residential and Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans Receivable | 6,674,901 | 6,063,762 |
Residential and Commercial Real Estate [Member] | Loans Receivable [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 62,701 | 70,246 |
Current Loans | 6,612,200 | 5,993,516 |
Total Loans Receivable | 6,674,901 | 6,063,762 |
Accruing Loans Past Due 90 Days or More | 14,295 | 15,612 |
Residential and Commercial Real Estate [Member] | Loans Past Due 30-59 Days [Member] | Loans Receivable [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 15,639 | 9,693 |
Residential and Commercial Real Estate [Member] | Loans Past Due 60-89 Days [Member] | Loans Receivable [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 5,034 | 1,989 |
Residential and Commercial Real Estate [Member] | Loans Past Due 90 Days or More [Member] | Loans Receivable [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | $ 42,028 | $ 58,564 |
Allowance for Loan Losses, Cr60
Allowance for Loan Losses, Credit Quality and Other - Additional Information (Detail) | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||
Jun. 30, 2017USD ($) | Jun. 30, 2016USD ($) | Jun. 30, 2017USD ($)Rating | Jun. 30, 2016USD ($) | Dec. 31, 2016USD ($) | |
Receivables [Abstract] | |||||
Non-accruing loans | $ 32,400,000 | $ 32,400,000 | $ 47,200,000 | ||
Interest recognized on impaired loans | $ 509,000 | $ 532,000 | $ 1,023,000 | $ 1,100,000 | $ 2,256,000 |
Risk rating scale of loan | Loans are rated on a scale from 1 to 8. | ||||
Amount of loan assessed for impairment on a quarterly basis | $ 2,000,000 | ||||
Over $2,000,000 assessed minimum rated | Rating | 5 | ||||
Over $2,000,000 assessed maximum rated | Rating | 8 | ||||
Reforecasted future interest payments for loan pools, Accretable Yield | $ 1,900,000 | ||||
Adjustment to yield over the weighted average life of the loans | $ 1,699,000 |
Allowance for Loan Losses, Cr61
Allowance for Loan Losses, Credit Quality and Other - Summary of Impaired Loans (Detail) - USD ($) | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | Dec. 31, 2016 | |
Financing Receivable, Impaired [Line Items] | |||||
Average Recorded Investment | $ 169,000 | $ 239,000 | $ 231,000 | ||
Interest Recognized | 4,000 | 10,000 | 27,000 | ||
Unpaid Contractual Principal Balance | 310,000 | 310,000 | 424,000 | ||
Total Recorded Investment | 334,000 | 334,000 | 384,000 | ||
Allocation of Allowance for Loan Losses | 0 | 0 | 0 | ||
Unpaid Contractual Principal Balance | 82,260,000 | 82,260,000 | 96,678,000 | ||
Total Recorded Investment | 78,530,000 | 78,530,000 | 92,743,000 | ||
Allocation of Allowance for Loan Losses | 3,691,000 | 3,691,000 | 1,629,000 | ||
Average Recorded Investment | 84,858,000 | 87,488,000 | 89,377,000 | ||
Interest Recognized | 505,000 | 1,013,000 | 2,229,000 | ||
Unpaid Contractual Principal Balance | 82,570,000 | 82,570,000 | 97,102,000 | ||
Total Recorded Investment | 78,864,000 | 78,864,000 | 93,127,000 | ||
Allocation of Allowance for Loan Losses | 3,691,000 | 3,691,000 | 1,629,000 | ||
Average Recorded Investment | 85,027,000 | 87,727,000 | 89,608,000 | ||
Interest Recognized | 509,000 | $ 532,000 | 1,023,000 | $ 1,100,000 | 2,256,000 |
Commercial Real Estate Non Farm Nonresidential [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Average Recorded Investment | 15,000 | 19,000 | 23,000 | ||
Interest Recognized | 1,000 | 2,000 | |||
Unpaid Contractual Principal Balance | 29,000 | 29,000 | 29,000 | ||
Total Recorded Investment | 29,000 | 29,000 | 29,000 | ||
Allocation of Allowance for Loan Losses | 0 | 0 | 0 | ||
Unpaid Contractual Principal Balance | 41,320,000 | 41,320,000 | 52,477,000 | ||
Total Recorded Investment | 39,178,000 | 39,178,000 | 50,355,000 | ||
Allocation of Allowance for Loan Losses | 1,192,000 | 1,192,000 | 1,414,000 | ||
Average Recorded Investment | 42,091,000 | 44,846,000 | 42,979,000 | ||
Interest Recognized | 322,000 | 649,000 | 1,335,000 | ||
Unpaid Contractual Principal Balance | 41,349,000 | 41,349,000 | 52,506,000 | ||
Total Recorded Investment | 39,207,000 | 39,207,000 | 50,384,000 | ||
Allocation of Allowance for Loan Losses | 1,192,000 | 1,192,000 | 1,414,000 | ||
Average Recorded Investment | 42,106,000 | 44,865,000 | 43,002,000 | ||
Interest Recognized | 322,000 | 650,000 | 1,337,000 | ||
Commercial Real Estate Construction Land Development Loan [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Average Recorded Investment | 12,000 | 8,000 | 6,000 | ||
Interest Recognized | 1,000 | ||||
Unpaid Contractual Principal Balance | 23,000 | 23,000 | |||
Total Recorded Investment | 23,000 | 23,000 | |||
Allocation of Allowance for Loan Losses | 0 | 0 | 0 | ||
Unpaid Contractual Principal Balance | 10,315,000 | 10,315,000 | 8,313,000 | ||
Total Recorded Investment | 9,481,000 | 9,481,000 | 7,595,000 | ||
Allocation of Allowance for Loan Losses | 121,000 | 121,000 | 15,000 | ||
Average Recorded Investment | 10,110,000 | 9,272,000 | 12,878,000 | ||
Interest Recognized | 69,000 | 135,000 | 334,000 | ||
Unpaid Contractual Principal Balance | 10,338,000 | 10,338,000 | 8,313,000 | ||
Total Recorded Investment | 9,504,000 | 9,504,000 | 7,595,000 | ||
Allocation of Allowance for Loan Losses | 121,000 | 121,000 | 15,000 | ||
Average Recorded Investment | 10,122,000 | 9,280,000 | 12,884,000 | ||
Interest Recognized | 69,000 | 136,000 | 334,000 | ||
Agricultural [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Interest Recognized | 1,000 | 1,000 | 2,000 | ||
Unpaid Contractual Principal Balance | 37,000 | 37,000 | 40,000 | ||
Allocation of Allowance for Loan Losses | 0 | 0 | 0 | ||
Unpaid Contractual Principal Balance | 77,000 | 77,000 | 395,000 | ||
Total Recorded Investment | 117,000 | 117,000 | 438,000 | ||
Allocation of Allowance for Loan Losses | 4,000 | 4,000 | 2,000 | ||
Average Recorded Investment | 138,000 | 238,000 | 469,000 | ||
Interest Recognized | 1,000 | 3,000 | |||
Unpaid Contractual Principal Balance | 114,000 | 114,000 | 435,000 | ||
Total Recorded Investment | 117,000 | 117,000 | 438,000 | ||
Allocation of Allowance for Loan Losses | 4,000 | 4,000 | 2,000 | ||
Average Recorded Investment | 138,000 | 238,000 | 469,000 | ||
Interest Recognized | 2,000 | 4,000 | 2,000 | ||
Residential 1-4 Family [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Average Recorded Investment | 101,000 | 144,000 | 119,000 | ||
Interest Recognized | 3,000 | 6,000 | 15,000 | ||
Unpaid Contractual Principal Balance | 201,000 | 201,000 | 231,000 | ||
Total Recorded Investment | 201,000 | 201,000 | 231,000 | ||
Allocation of Allowance for Loan Losses | 0 | 0 | 0 | ||
Unpaid Contractual Principal Balance | 21,260,000 | 21,260,000 | 26,681,000 | ||
Total Recorded Investment | 20,745,000 | 20,745,000 | 25,675,000 | ||
Allocation of Allowance for Loan Losses | 214,000 | 214,000 | 95,000 | ||
Average Recorded Investment | 23,230,000 | 24,045,000 | 20,239,000 | ||
Interest Recognized | 77,000 | 181,000 | 293,000 | ||
Unpaid Contractual Principal Balance | 21,461,000 | 21,461,000 | 26,912,000 | ||
Total Recorded Investment | 20,946,000 | 20,946,000 | 25,906,000 | ||
Allocation of Allowance for Loan Losses | 214,000 | 214,000 | 95,000 | ||
Average Recorded Investment | 23,331,000 | 24,189,000 | 20,358,000 | ||
Interest Recognized | 80,000 | 187,000 | 308,000 | ||
Residential and Commercial Real Estate [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Average Recorded Investment | 128,000 | 171,000 | 167,000 | ||
Interest Recognized | 4,000 | 9,000 | 19,000 | ||
Unpaid Contractual Principal Balance | 290,000 | 290,000 | 300,000 | ||
Total Recorded Investment | 253,000 | 253,000 | 260,000 | ||
Allocation of Allowance for Loan Losses | 0 | 0 | 0 | ||
Unpaid Contractual Principal Balance | 74,813,000 | 74,813,000 | 88,418,000 | ||
Total Recorded Investment | 71,176,000 | 71,176,000 | 84,615,000 | ||
Allocation of Allowance for Loan Losses | 1,545,000 | 1,545,000 | 1,534,000 | ||
Average Recorded Investment | 76,669,000 | 79,318,000 | 77,487,000 | ||
Interest Recognized | 497,000 | 1,000,000 | 1,971,000 | ||
Unpaid Contractual Principal Balance | 75,103,000 | 75,103,000 | 88,718,000 | ||
Total Recorded Investment | 71,429,000 | 71,429,000 | 84,875,000 | ||
Allocation of Allowance for Loan Losses | 1,545,000 | 1,545,000 | 1,534,000 | ||
Average Recorded Investment | 76,797,000 | 79,489,000 | 77,654,000 | ||
Interest Recognized | 501,000 | 1,009,000 | 1,990,000 | ||
Commercial and Industrial [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Average Recorded Investment | 41,000 | 68,000 | 64,000 | ||
Interest Recognized | 1,000 | 8,000 | |||
Unpaid Contractual Principal Balance | 17,000 | 17,000 | 124,000 | ||
Total Recorded Investment | 81,000 | 81,000 | 124,000 | ||
Allocation of Allowance for Loan Losses | 0 | 0 | 0 | ||
Unpaid Contractual Principal Balance | 6,489,000 | 6,489,000 | 7,160,000 | ||
Total Recorded Investment | 6,345,000 | 6,345,000 | 7,032,000 | ||
Allocation of Allowance for Loan Losses | 2,138,000 | 2,138,000 | 95,000 | ||
Average Recorded Investment | 7,217,000 | 7,156,000 | 10,630,000 | ||
Interest Recognized | 6,000 | 11,000 | 255,000 | ||
Unpaid Contractual Principal Balance | 6,506,000 | 6,506,000 | 7,284,000 | ||
Total Recorded Investment | 6,426,000 | 6,426,000 | 7,156,000 | ||
Allocation of Allowance for Loan Losses | 2,138,000 | 2,138,000 | 95,000 | ||
Average Recorded Investment | 7,258,000 | 7,224,000 | 10,694,000 | ||
Interest Recognized | 6,000 | 12,000 | 263,000 | ||
Agricultural and Other [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Allocation of Allowance for Loan Losses | 0 | 0 | 0 | ||
Unpaid Contractual Principal Balance | 819,000 | 819,000 | 935,000 | ||
Total Recorded Investment | 868,000 | 868,000 | 935,000 | ||
Allocation of Allowance for Loan Losses | 8,000 | 8,000 | |||
Average Recorded Investment | 816,000 | 856,000 | 1,037,000 | ||
Interest Recognized | 2,000 | 2,000 | |||
Unpaid Contractual Principal Balance | 819,000 | 819,000 | 935,000 | ||
Total Recorded Investment | 868,000 | 868,000 | 935,000 | ||
Allocation of Allowance for Loan Losses | 8,000 | 8,000 | |||
Average Recorded Investment | 816,000 | 856,000 | 1,037,000 | ||
Interest Recognized | 2,000 | 2,000 | |||
Consumer [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Unpaid Contractual Principal Balance | 3,000 | 3,000 | |||
Allocation of Allowance for Loan Losses | 0 | 0 | 0 | ||
Unpaid Contractual Principal Balance | 139,000 | 139,000 | 165,000 | ||
Total Recorded Investment | 141,000 | 141,000 | 161,000 | ||
Average Recorded Investment | 156,000 | 158,000 | 223,000 | ||
Interest Recognized | 3,000 | ||||
Unpaid Contractual Principal Balance | 142,000 | 142,000 | 165,000 | ||
Total Recorded Investment | 141,000 | 141,000 | 161,000 | ||
Average Recorded Investment | 156,000 | 158,000 | 223,000 | ||
Interest Recognized | 3,000 | ||||
Multifamily Residential [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Average Recorded Investment | 19,000 | ||||
Allocation of Allowance for Loan Losses | 0 | 0 | 0 | ||
Unpaid Contractual Principal Balance | 1,841,000 | 1,841,000 | 552,000 | ||
Total Recorded Investment | 1,655,000 | 1,655,000 | 552,000 | ||
Allocation of Allowance for Loan Losses | 14,000 | 14,000 | 8,000 | ||
Average Recorded Investment | 1,100,000 | 917,000 | 922,000 | ||
Interest Recognized | 28,000 | 32,000 | 9,000 | ||
Unpaid Contractual Principal Balance | 1,841,000 | 1,841,000 | 552,000 | ||
Total Recorded Investment | 1,655,000 | 1,655,000 | 552,000 | ||
Allocation of Allowance for Loan Losses | 14,000 | 14,000 | 8,000 | ||
Average Recorded Investment | 1,100,000 | 917,000 | 941,000 | ||
Interest Recognized | $ 28,000 | $ 32,000 | $ 9,000 |
Allowance for Loan Losses, Cr62
Allowance for Loan Losses, Credit Quality and Other - Presentation of Classified Loans by Class and Risk Rating (Detail) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable not covered by loss share | $ 7,667,863 | $ 7,228,135 |
Purchased credit impaired loans acquired | 166,612 | 159,564 |
Loans receivable | 7,834,475 | 7,387,699 |
Commercial Real Estate Non Farm Nonresidential [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable not covered by loss share | 3,280,924 | 3,077,188 |
Loans receivable | 3,368,663 | 3,153,121 |
Commercial Real Estate Construction Land Development Loan [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable not covered by loss share | 1,298,721 | 1,118,295 |
Loans receivable | 1,315,309 | 1,135,843 |
Agricultural [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable not covered by loss share | 78,260 | 77,736 |
Loans receivable | 78,260 | 77,736 |
Residential 1-4 Family [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable not covered by loss share | 1,474,138 | 1,309,475 |
Loans receivable | 1,513,888 | 1,356,136 |
Residential and Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable not covered by loss share | 6,523,730 | 5,917,211 |
Loans receivable | 6,674,901 | 6,063,762 |
Agricultural and Other [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable not covered by loss share | 124,753 | 158,580 |
Loans Receivable [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 7,834,475 | 7,387,699 |
Loans Receivable [Member] | Commercial Real Estate Non Farm Nonresidential [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 3,368,663 | 3,153,121 |
Loans Receivable [Member] | Commercial Real Estate Construction Land Development Loan [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 1,315,309 | 1,135,843 |
Loans Receivable [Member] | Agricultural [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 78,260 | 77,736 |
Loans Receivable [Member] | Residential 1-4 Family [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 1,513,888 | 1,356,136 |
Loans Receivable [Member] | Residential and Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 6,674,901 | 6,063,762 |
Consumer [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable not covered by loss share | 37,325 | 40,580 |
Loans receivable | 38,424 | 41,745 |
Consumer [Member] | Loans Receivable [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 38,424 | 41,745 |
Commercial and Industrial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable not covered by loss share | 982,055 | 1,111,764 |
Loans receivable | 994,827 | 1,123,213 |
Commercial and Industrial [Member] | Loans Receivable [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 994,827 | 1,123,213 |
Agricultural and Other [Member] | Loans Receivable [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 126,323 | 158,979 |
Multifamily Residential [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable not covered by loss share | 391,687 | 334,517 |
Loans receivable | 398,781 | 340,926 |
Multifamily Residential [Member] | Loans Receivable [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 398,781 | 340,926 |
Risk Rated 1 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable not covered by loss share | 30,003 | 35,359 |
Risk Rated 1 [Member] | Commercial Real Estate Non Farm Nonresidential [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable not covered by loss share | 1,032 | 1,047 |
Risk Rated 1 [Member] | Commercial Real Estate Construction Land Development Loan [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable not covered by loss share | 33 | 400 |
Risk Rated 1 [Member] | Residential 1-4 Family [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable not covered by loss share | 1,483 | 2,336 |
Risk Rated 1 [Member] | Residential and Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable not covered by loss share | 2,548 | 3,783 |
Risk Rated 1 [Member] | Agricultural and Other [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable not covered by loss share | 2,735 | 3,379 |
Risk Rated 1 [Member] | Consumer [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable not covered by loss share | 12,681 | 15,080 |
Risk Rated 1 [Member] | Commercial and Industrial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable not covered by loss share | 12,039 | 13,117 |
Risk Rated 2 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable not covered by loss share | 7,655 | 12,434 |
Risk Rated 2 [Member] | Commercial Real Estate Non Farm Nonresidential [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable not covered by loss share | 578 | 4,762 |
Risk Rated 2 [Member] | Commercial Real Estate Construction Land Development Loan [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable not covered by loss share | 838 | 981 |
Risk Rated 2 [Member] | Agricultural [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable not covered by loss share | 83 | 157 |
Risk Rated 2 [Member] | Residential 1-4 Family [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable not covered by loss share | 1,216 | 1,683 |
Risk Rated 2 [Member] | Residential and Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable not covered by loss share | 2,715 | 7,583 |
Risk Rated 2 [Member] | Agricultural and Other [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable not covered by loss share | 927 | 976 |
Risk Rated 2 [Member] | Consumer [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable not covered by loss share | 162 | 231 |
Risk Rated 2 [Member] | Commercial and Industrial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable not covered by loss share | 3,851 | 3,644 |
Risk Rated 3 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable not covered by loss share | 3,797,045 | 3,620,697 |
Risk Rated 3 [Member] | Commercial Real Estate Non Farm Nonresidential [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable not covered by loss share | 1,675,101 | 1,568,385 |
Risk Rated 3 [Member] | Commercial Real Estate Construction Land Development Loan [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable not covered by loss share | 193,881 | 180,094 |
Risk Rated 3 [Member] | Agricultural [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable not covered by loss share | 49,714 | 53,753 |
Risk Rated 3 [Member] | Residential 1-4 Family [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable not covered by loss share | 1,010,859 | 941,760 |
Risk Rated 3 [Member] | Residential and Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable not covered by loss share | 3,218,243 | 3,022,506 |
Risk Rated 3 [Member] | Agricultural and Other [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable not covered by loss share | 64,980 | 82,641 |
Risk Rated 3 [Member] | Consumer [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable not covered by loss share | 15,872 | 15,330 |
Risk Rated 3 [Member] | Commercial and Industrial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable not covered by loss share | 497,950 | 500,220 |
Risk Rated 3 [Member] | Multifamily Residential [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable not covered by loss share | 288,688 | 278,514 |
Risk Rated 4 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable not covered by loss share | 3,663,961 | 3,377,129 |
Risk Rated 4 [Member] | Commercial Real Estate Non Farm Nonresidential [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable not covered by loss share | 1,538,389 | 1,425,316 |
Risk Rated 4 [Member] | Commercial Real Estate Construction Land Development Loan [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable not covered by loss share | 1,063,218 | 921,081 |
Risk Rated 4 [Member] | Agricultural [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable not covered by loss share | 27,155 | 22,238 |
Risk Rated 4 [Member] | Residential 1-4 Family [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable not covered by loss share | 426,751 | 324,045 |
Risk Rated 4 [Member] | Residential and Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable not covered by loss share | 3,157,510 | 2,738,422 |
Risk Rated 4 [Member] | Agricultural and Other [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable not covered by loss share | 55,403 | 70,649 |
Risk Rated 4 [Member] | Consumer [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable not covered by loss share | 8,384 | 9,645 |
Risk Rated 4 [Member] | Commercial and Industrial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable not covered by loss share | 442,664 | 558,413 |
Risk Rated 4 [Member] | Multifamily Residential [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable not covered by loss share | 101,997 | 45,742 |
Risk Rated 5 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable not covered by loss share | 87,949 | 79,995 |
Risk Rated 5 [Member] | Commercial Real Estate Non Farm Nonresidential [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable not covered by loss share | 37,572 | 33,559 |
Risk Rated 5 [Member] | Commercial Real Estate Construction Land Development Loan [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable not covered by loss share | 28,265 | 7,087 |
Risk Rated 5 [Member] | Agricultural [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable not covered by loss share | 882 | 829 |
Risk Rated 5 [Member] | Residential 1-4 Family [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable not covered by loss share | 10,917 | 10,360 |
Risk Rated 5 [Member] | Residential and Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable not covered by loss share | 77,852 | 60,705 |
Risk Rated 5 [Member] | Consumer [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable not covered by loss share | 51 | 81 |
Risk Rated 5 [Member] | Commercial and Industrial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable not covered by loss share | 10,046 | 19,209 |
Risk Rated 5 [Member] | Multifamily Residential [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable not covered by loss share | 216 | 8,870 |
Classified Total [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable not covered by loss share | 81,250 | 102,521 |
Classified Total [Member] | Commercial Real Estate Non Farm Nonresidential [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable not covered by loss share | 28,252 | 44,119 |
Classified Total [Member] | Commercial Real Estate Construction Land Development Loan [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable not covered by loss share | 12,486 | 8,652 |
Classified Total [Member] | Agricultural [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable not covered by loss share | 426 | 759 |
Classified Total [Member] | Residential 1-4 Family [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable not covered by loss share | 22,912 | 29,291 |
Classified Total [Member] | Residential and Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable not covered by loss share | 64,862 | 84,212 |
Classified Total [Member] | Agricultural and Other [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable not covered by loss share | 708 | 935 |
Classified Total [Member] | Loans Receivable [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 81,250 | 102,521 |
Classified Total [Member] | Loans Receivable [Member] | Commercial Real Estate Non Farm Nonresidential [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 28,252 | 44,119 |
Classified Total [Member] | Loans Receivable [Member] | Commercial Real Estate Construction Land Development Loan [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 12,486 | 8,652 |
Classified Total [Member] | Loans Receivable [Member] | Agricultural [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 426 | 759 |
Classified Total [Member] | Loans Receivable [Member] | Residential 1-4 Family [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 22,912 | 29,291 |
Classified Total [Member] | Loans Receivable [Member] | Residential and Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 64,862 | 84,212 |
Classified Total [Member] | Consumer [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable not covered by loss share | 175 | 213 |
Classified Total [Member] | Consumer [Member] | Loans Receivable [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 175 | 213 |
Classified Total [Member] | Commercial and Industrial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable not covered by loss share | 15,505 | 17,161 |
Classified Total [Member] | Commercial and Industrial [Member] | Loans Receivable [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 15,505 | 17,161 |
Classified Total [Member] | Agricultural and Other [Member] | Loans Receivable [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 708 | 935 |
Classified Total [Member] | Multifamily Residential [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable not covered by loss share | 786 | 1,391 |
Classified Total [Member] | Multifamily Residential [Member] | Loans Receivable [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 786 | 1,391 |
Risk Rated 6 [Member] | Loans Receivable [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 79,709 | 101,409 |
Risk Rated 6 [Member] | Loans Receivable [Member] | Commercial Real Estate Non Farm Nonresidential [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 27,479 | 43,657 |
Risk Rated 6 [Member] | Loans Receivable [Member] | Commercial Real Estate Construction Land Development Loan [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 12,381 | 8,619 |
Risk Rated 6 [Member] | Loans Receivable [Member] | Agricultural [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 426 | 759 |
Risk Rated 6 [Member] | Loans Receivable [Member] | Residential 1-4 Family [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 22,334 | 28,846 |
Risk Rated 6 [Member] | Loans Receivable [Member] | Residential and Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 63,406 | 83,272 |
Risk Rated 6 [Member] | Consumer [Member] | Loans Receivable [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 174 | 211 |
Risk Rated 6 [Member] | Commercial and Industrial [Member] | Loans Receivable [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 15,421 | 16,991 |
Risk Rated 6 [Member] | Agricultural and Other [Member] | Loans Receivable [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 708 | 935 |
Risk Rated 6 [Member] | Multifamily Residential [Member] | Loans Receivable [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 786 | 1,391 |
Risk Rated 7 [Member] | Loans Receivable [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 1,541 | 1,112 |
Risk Rated 7 [Member] | Loans Receivable [Member] | Commercial Real Estate Non Farm Nonresidential [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 773 | 462 |
Risk Rated 7 [Member] | Loans Receivable [Member] | Commercial Real Estate Construction Land Development Loan [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 105 | 33 |
Risk Rated 7 [Member] | Loans Receivable [Member] | Residential 1-4 Family [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 578 | 445 |
Risk Rated 7 [Member] | Loans Receivable [Member] | Residential and Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 1,456 | 940 |
Risk Rated 7 [Member] | Consumer [Member] | Loans Receivable [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 1 | 2 |
Risk Rated 7 [Member] | Commercial and Industrial [Member] | Loans Receivable [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | $ 84 | $ 170 |
Allowance for Loan Losses, Cr63
Allowance for Loan Losses, Credit Quality and Other - Presentation of Troubled Debt Restructurings ("TDRs") by Class (Detail) - Loans Receivable [Member] $ in Thousands | 6 Months Ended | 12 Months Ended |
Jun. 30, 2017USD ($)Contracts | Dec. 31, 2016USD ($)Contracts | |
Financing Receivable, Modifications [Line Items] | ||
Number of Loans | Contracts | 48 | 48 |
Pre-Modification Outstanding Balance | $ 23,924 | $ 27,919 |
Post-Modification Outstanding Balance | $ 22,311 | $ 25,516 |
Commercial Real Estate Non Farm Nonresidential [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Loans | Contracts | 14 | 17 |
Pre-Modification Outstanding Balance | $ 17,017 | $ 21,344 |
Post-Modification Outstanding Balance | $ 16,169 | $ 20,405 |
Commercial Real Estate Construction Land Development Loan [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Loans | Contracts | 3 | 1 |
Pre-Modification Outstanding Balance | $ 641 | $ 560 |
Post-Modification Outstanding Balance | $ 633 | $ 556 |
Agricultural [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Loans | Contracts | 2 | 2 |
Pre-Modification Outstanding Balance | $ 146 | $ 146 |
Post-Modification Outstanding Balance | $ 117 | $ 123 |
Residential 1-4 Family [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Loans | Contracts | 20 | 21 |
Pre-Modification Outstanding Balance | $ 5,297 | $ 5,179 |
Post-Modification Outstanding Balance | $ 4,618 | $ 3,780 |
Residential and Commercial Real Estate [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Loans | Contracts | 40 | 42 |
Pre-Modification Outstanding Balance | $ 23,396 | $ 27,524 |
Post-Modification Outstanding Balance | $ 21,825 | $ 25,154 |
Commercial and Industrial [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Loans | Contracts | 6 | 6 |
Pre-Modification Outstanding Balance | $ 359 | $ 395 |
Post-Modification Outstanding Balance | $ 317 | 362 |
Consumer [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Loans | Contracts | 1 | |
Pre-Modification Outstanding Balance | $ 3 | |
Post-Modification Outstanding Balance | $ 3 | |
Other [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Loans | Contracts | 1 | |
Pre-Modification Outstanding Balance | $ 166 | |
Post-Modification Outstanding Balance | 166 | |
Rate Modification [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Post-Modification Outstanding Balance | 14,620 | 18,032 |
Rate Modification [Member] | Commercial Real Estate Non Farm Nonresidential [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Post-Modification Outstanding Balance | 10,457 | 14,600 |
Rate Modification [Member] | Commercial Real Estate Construction Land Development Loan [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Post-Modification Outstanding Balance | 554 | 556 |
Rate Modification [Member] | Residential 1-4 Family [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Post-Modification Outstanding Balance | 3,206 | 2,639 |
Rate Modification [Member] | Residential and Commercial Real Estate [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Post-Modification Outstanding Balance | 14,217 | 17,795 |
Rate Modification [Member] | Commercial and Industrial [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Post-Modification Outstanding Balance | 237 | 237 |
Rate Modification [Member] | Other [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Post-Modification Outstanding Balance | 166 | |
Term Modification [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Post-Modification Outstanding Balance | 556 | 545 |
Term Modification [Member] | Commercial Real Estate Non Farm Nonresidential [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Post-Modification Outstanding Balance | 256 | 263 |
Term Modification [Member] | Commercial Real Estate Construction Land Development Loan [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Post-Modification Outstanding Balance | 79 | |
Term Modification [Member] | Agricultural [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Post-Modification Outstanding Balance | 39 | 43 |
Term Modification [Member] | Residential 1-4 Family [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Post-Modification Outstanding Balance | 104 | 124 |
Term Modification [Member] | Residential and Commercial Real Estate [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Post-Modification Outstanding Balance | 478 | 430 |
Term Modification [Member] | Commercial and Industrial [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Post-Modification Outstanding Balance | 75 | 115 |
Term Modification [Member] | Consumer [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Post-Modification Outstanding Balance | 3 | |
Rate and Term Modification [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Post-Modification Outstanding Balance | 7,135 | 6,939 |
Rate and Term Modification [Member] | Commercial Real Estate Non Farm Nonresidential [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Post-Modification Outstanding Balance | 5,456 | 5,542 |
Rate and Term Modification [Member] | Agricultural [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Post-Modification Outstanding Balance | 78 | 80 |
Rate and Term Modification [Member] | Residential 1-4 Family [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Post-Modification Outstanding Balance | 1,308 | 1,017 |
Rate and Term Modification [Member] | Residential and Commercial Real Estate [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Post-Modification Outstanding Balance | 7,130 | 6,929 |
Rate and Term Modification [Member] | Commercial and Industrial [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Post-Modification Outstanding Balance | $ 5 | $ 10 |
Multifamily Residential [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Loans | Contracts | 1 | 1 |
Pre-Modification Outstanding Balance | $ 295 | $ 295 |
Post-Modification Outstanding Balance | 288 | 290 |
Multifamily Residential [Member] | Rate and Term Modification [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Post-Modification Outstanding Balance | $ 288 | $ 290 |
Allowance for Loan Losses, Cr64
Allowance for Loan Losses, Credit Quality and Other - Presentation of TDR's on Non-Accrual Status (Detail) $ in Thousands | 6 Months Ended | 12 Months Ended |
Jun. 30, 2017USD ($)Contracts | Dec. 31, 2016USD ($)Contracts | |
Financing Receivable, Modifications [Line Items] | ||
Number of Loans | Contracts | 11 | 17 |
Recorded Balance | $ | $ 1,096 | $ 3,059 |
Commercial and Industrial [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Loans | Contracts | 1 | |
Recorded Balance | $ | $ 17 | |
Commercial Real Estate Non Farm Nonresidential [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Loans | Contracts | 2 | |
Recorded Balance | $ | $ 696 | |
Agricultural [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Loans | Contracts | 2 | 2 |
Recorded Balance | $ | $ 117 | $ 123 |
Residential 1-4 Family [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Loans | Contracts | 8 | 13 |
Recorded Balance | $ | $ 962 | $ 2,240 |
Residential and Commercial Real Estate [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Loans | Contracts | 10 | 17 |
Recorded Balance | $ | $ 1,079 | $ 3,059 |
Allowance for Loan Losses, Cr65
Allowance for Loan Losses, Credit Quality and Other - Summary of Total Foreclosed Assets (Detail) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Schedule Of Foreclosed Assets Activity [Line Items] | ||
Total foreclosed assets held for sale | $ 18,789 | $ 15,951 |
Commercial Real Estate Non Farm Nonresidential [Member] | ||
Schedule Of Foreclosed Assets Activity [Line Items] | ||
Total foreclosed assets held for sale | 8,206 | 9,423 |
Commercial Real Estate Construction Land Development Loan [Member] | ||
Schedule Of Foreclosed Assets Activity [Line Items] | ||
Total foreclosed assets held for sale | 4,742 | 4,009 |
Residential 1-4 Family [Member] | ||
Schedule Of Foreclosed Assets Activity [Line Items] | ||
Total foreclosed assets held for sale | 4,321 | 2,076 |
Multifamily Residential [Member] | ||
Schedule Of Foreclosed Assets Activity [Line Items] | ||
Total foreclosed assets held for sale | $ 1,520 | $ 443 |
Allowance for Loan Losses, Cr66
Allowance for Loan Losses, Credit Quality and Other - Summary of Purchased Credit Impaired Loans Acquired (Detail) - USD ($) $ in Thousands | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | |||
Non-accretable difference (expected losses and foregone interest) | $ 37,600 | $ 35,300 | |
Accretable yield | $ 58,000 | $ 64,900 | |
Giant Holdings, Inc. [Member] | |||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | |||
Contractually required principal and interest at acquisition | $ 22,379 | ||
Non-accretable difference (expected losses and foregone interest) | 4,462 | ||
Cash flows expected to be collected at acquisition | 17,917 | ||
Cash flows expected to be collected at acquisition | 17,917 | ||
Accretable yield | 2,071 | ||
Basis in purchased credit impaired loans at acquisition | 15,846 | ||
The Bank of Commerce [Member] | |||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | |||
Contractually required principal and interest at acquisition | 18,586 | ||
Non-accretable difference (expected losses and foregone interest) | 2,811 | ||
Cash flows expected to be collected at acquisition | 15,775 | ||
Cash flows expected to be collected at acquisition | 15,775 | ||
Accretable yield | 1,043 | ||
Basis in purchased credit impaired loans at acquisition | $ 14,732 |
Allowance for Loan Losses, Cr67
Allowance for Loan Losses, Credit Quality and Other - Changes in Carrying Amount of Accretable Yield for Purchased Credit Impaired Loans Acquired (Detail) $ in Thousands | 6 Months Ended |
Jun. 30, 2017USD ($) | |
Receivables [Abstract] | |
Balance at beginning of period, Accretable Yield | $ 38,212 |
Reforecasted future interest payments for loan pools, Accretable Yield | 1,913 |
Accretion recorded to interest income, Accretable Yield | (10,172) |
Acquisitions of GHI and BOC, Accretable Yield | 3,114 |
Adjustment to yield, Accretable Yield | 1,699 |
Transfers to foreclosed assets held for sale, Accretable Yield | 0 |
Payments received, net, Accretable Yield | 0 |
Balance at end of period, Accretable Yield | 34,766 |
Balance at beginning of period, Carrying Amount of Loans | 159,564 |
Reforecasted future interest payments for loan pools, Carrying Amount of Loans | 0 |
Accretion recorded to interest income, Carrying Amount of Loans | 10,172 |
Acquisitions of GHI and BOC, Carrying Amount of Loans | 30,578 |
Adjustment to yield, Carrying Amount of Loans | 0 |
Transfers to foreclosed assets held for sale | (698) |
Payments received, net, Carrying Amount of Loans | (33,004) |
Balance at end of period, Carrying Amount of Loans | $ 166,612 |
Goodwill and Core Deposits an68
Goodwill and Core Deposits and Other Intangibles - Summary of Changes in Carrying Amount and Accumulated Amortization of Company's Goodwill and Core Deposits and Other Intangibles (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | Dec. 31, 2016 | |
Goodwill | |||||
Balance, beginning of period | $ 377,983 | $ 377,983 | $ 377,983 | ||
Acquisitions | 42,958 | ||||
Balance, end of period | $ 420,941 | 420,941 | 377,983 | ||
Core Deposit and Other Intangibles | |||||
Balance, beginning of period | 18,311 | 21,443 | 21,443 | ||
Acquisition | 4,378 | ||||
Amortization expense | (866) | $ (763) | (1,670) | (1,608) | (1,524) |
Balance, end of year | $ 21,019 | $ 19,835 | $ 21,019 | $ 19,835 | $ 18,311 |
Goodwill and Core Deposits an69
Goodwill and Core Deposits and Other Intangibles - Summary of Carrying Amount and Accumulated Amortization of Core Deposits and Other Intangibles (Detail) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 | Jun. 30, 2016 | Dec. 31, 2015 |
Goodwill and Intangible Assets Disclosure [Abstract] | ||||
Gross carrying basis | $ 55,756 | $ 51,378 | ||
Accumulated amortization | (34,737) | (33,067) | ||
Net carrying amount | $ 21,019 | $ 18,311 | $ 19,835 | $ 21,443 |
Goodwill and Core Deposits an70
Goodwill and Core Deposits and Other Intangibles - Additional Information (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | 12 Months Ended | |||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | Dec. 31, 2016 | Dec. 31, 2015 | |
Goodwill and Intangible Assets Disclosure [Abstract] | ||||||
Core deposit and other intangible amortization | $ 866 | $ 763 | $ 1,670 | $ 1,608 | $ 1,524 | |
Amortization expense for year 2017 | 3,300 | 3,300 | ||||
Amortization expense for year 2018 | 3,500 | 3,500 | ||||
Amortization expense for year 2019 | 3,400 | 3,400 | ||||
Amortization expense for year 2020 | 2,800 | 2,800 | ||||
Amortization expense for year 2021 | 2,700 | 2,700 | ||||
Carrying amount of Company's goodwill | $ 420,941 | $ 420,941 | $ 377,983 | $ 377,983 |
Other Assets - Additional Infor
Other Assets - Additional Information (Detail) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Other Assets [Abstract] | ||
Other assets | $ 136,494 | $ 129,300 |
Fair value of equity securities | $ 117,500 | $ 112,400 |
Deposits - Additional Informati
Deposits - Additional Information (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | Dec. 31, 2016 | |
Deposits [Line Items] | |||||
Time deposits with a minimum denomination of $250,000 | $ 634,800 | $ 634,800 | $ 569,100 | ||
Time deposits with a minimum denomination of $100,000 | 961,700 | 961,700 | 842,900 | ||
Interest expense applicable to certificate | 1,900 | $ 1,400 | 3,600 | $ 2,300 | |
Brokered deposits | 634,400 | 634,400 | 502,500 | ||
Total deposits | 7,767,388 | 7,767,388 | 6,942,427 | ||
State and Political Subdivisions [Member] | |||||
Deposits [Line Items] | |||||
Total deposits | $ 1,200,000 | $ 1,200,000 | $ 1,230,000 |
Securities Sold Under Agreeme73
Securities Sold Under Agreements to Repurchase - Additional Information (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | Dec. 31, 2016 | |
Securities Sold under Agreements to Repurchase [Abstract] | |||||
Securities sold under agreements to repurchase | $ 133,741 | $ 133,741 | $ 121,290 | ||
Securities sold under agreements to repurchase daily weighted average | $ 128,700 | $ 115,800 | $ 126,400 | $ 122,400 |
Securities Sold Under Agreeme74
Securities Sold Under Agreements to Repurchase - Summary of Remaining Contractual Maturity of Securities Sold Under Agreements to Repurchase (Detail) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Assets Sold under Agreements to Repurchase [Line Items] | ||
Total borrowings | $ 133,741 | $ 121,290 |
U.S. Government-Sponsored Enterprises [Member] | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Total borrowings | 11,514 | 1,918 |
Mortgage-Backed Securities [Member] | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Total borrowings | 18,420 | 22,691 |
State and Political Subdivisions [Member] | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Total borrowings | 82,048 | 74,559 |
Other Securities [Member] | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Total borrowings | 21,759 | 22,122 |
Overnight and Continuous [Member] | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Total borrowings | 133,741 | 121,290 |
Overnight and Continuous [Member] | U.S. Government-Sponsored Enterprises [Member] | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Total borrowings | 11,514 | 1,918 |
Overnight and Continuous [Member] | Mortgage-Backed Securities [Member] | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Total borrowings | 18,420 | 22,691 |
Overnight and Continuous [Member] | State and Political Subdivisions [Member] | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Total borrowings | 82,048 | 74,559 |
Overnight and Continuous [Member] | Other Securities [Member] | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Total borrowings | $ 21,759 | $ 22,122 |
FHLB Borrowed Funds - Additiona
FHLB Borrowed Funds - Additional Information (Detail) - USD ($) $ in Millions | Jun. 30, 2017 | Dec. 31, 2016 |
Borrowed Funds [Line Items] | ||
FHLB borrowed funds | $ 1,100 | $ 1,310 |
Short-term advances | 200 | 40 |
Long-term advances | $ 899.5 | 1,270 |
Maturity of FHLB advances | 2,025 | |
Line of credit | $ 566.3 | $ 516.2 |
Maturities of Borrowings, remainder of 2017 | 325.4 | |
Maturities of Borrowings, 2018 | 459.1 | |
Maturities of Borrowings, 2019 | 143.1 | |
Maturities of Borrowings, 2020 | 146.4 | |
Maturities of Borrowings, 2021 | 0 | |
Maturities of Borrowings, after 2021 | $ 25.4 | |
Minimum [Member] | ||
Borrowed Funds [Line Items] | ||
FHLB interest rate | 0.64% | |
Maximum [Member] | ||
Borrowed Funds [Line Items] | ||
FHLB interest rate | 5.96% |
Other Borrowings - Additional I
Other Borrowings - Additional Information (Detail) - USD ($) | Jun. 30, 2017 | Dec. 31, 2016 |
Line of Credit Facility [Line Items] | ||
Balance of line of credit | $ 566,300,000 | $ 516,200,000 |
Other borrowings | 0 | |
Line of Credit [Member] | ||
Line of Credit Facility [Line Items] | ||
Credit facility, maximum borrowing capacity | 20,000,000 | |
Balance of line of credit | $ 0 | $ 0 |
Subordinated Debentures - Addit
Subordinated Debentures - Additional Information (Detail) - USD ($) $ in Thousands | Apr. 03, 2017 | Jun. 30, 2017 | Dec. 31, 2016 |
Debt Instrument [Line Items] | |||
Subordinated debentures | $ 357,838 | $ 60,826 | |
Net proceeds from subordinated debt issuance, after underwriting discounts | $ 297,201 | ||
5.625% Fixed-to-Floating Rate Subordinated Notes due 2027 [Member] | |||
Debt Instrument [Line Items] | |||
Subordinated debt issuance date | Apr. 3, 2017 | ||
Aggregate principal amount of notes issued | $ 300,000 | ||
Subordinated notes, Interest rate | 5.625% | ||
Net proceeds from subordinated debt issuance, after underwriting discounts | $ 297,200 | ||
Subordinated notes, Maturity date | Apr. 15, 2027 | ||
Notes issued, Interest rate terms | From and including April 15, 2022 to, but excluding the maturity date or earlier redemption, the Notes will bear interest at a floating rate equal to three-month LIBOR as calculated on each applicable date of determination plus a spread of 3.575%; provided, however, that in the event three-month LIBOR is less than zero, then three-month LIBOR shall be deemed to be zero. | ||
Percentage of redemption price on principal | 100.00% | ||
LIBOR [Member] | 5.625% Fixed-to-Floating Rate Subordinated Notes due 2027 [Member] | |||
Debt Instrument [Line Items] | |||
LIBOR plus rate, Percentage | 3.575% | ||
Trust Preferred Securities [Member] | |||
Debt Instrument [Line Items] | |||
Company currently holds of trust preferred securities | $ 60,800 |
Subordinated Debentures - Prefe
Subordinated Debentures - Preferred Trust Securities and Subordinated Debentures (Detail) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Debt Instrument [Line Items] | ||
Subordinated debentures, issued | $ 357,838 | $ 60,826 |
Due 2036, fixed rate of 6.75% during the first five years and at a floating rate of 1.85% [Member] | Trust Preferred Securities [Member] | ||
Debt Instrument [Line Items] | ||
Subordinated debentures, issued | 3,093 | 3,093 |
Due 2034, fixed rate of 6.00% during the first five years and at a floating rate of 2.00% [Member] | Trust Preferred Securities [Member] | ||
Debt Instrument [Line Items] | ||
Subordinated debentures, issued | 15,464 | 15,464 |
Due 2035, fixed rate of 5.84% during the first five years and at a floating rate of 1.45% [Member] | Trust Preferred Securities [Member] | ||
Debt Instrument [Line Items] | ||
Subordinated debentures, issued | 25,774 | 25,774 |
Due 2034, fixed rate of 4.29% during the first five years and at a floating rate of 2.50% [Member] | Trust Preferred Securities [Member] | ||
Debt Instrument [Line Items] | ||
Subordinated debentures, issued | 16,495 | $ 16,495 |
Due 2027, Fixed Rate of 5.625% During the First Five Years and at a Floating Rate of 3.575% [Member] | Subordinated Debt [Member] | ||
Debt Instrument [Line Items] | ||
Subordinated debentures, issued | $ 297,012 |
Subordinated Debentures - Pre79
Subordinated Debentures - Preferred Trust Securities and Subordinated Debentures (Parenthetical) (Detail) | 6 Months Ended |
Jun. 30, 2017 | |
Due 2036, fixed rate of 6.75% during the first five years and at a floating rate of 1.85% [Member] | Trust Preferred Securities [Member] | |
Debt Instrument [Line Items] | |
Subordinated debentures, issued date | Dec. 31, 2006 |
Subordinated debentures, due date | Dec. 31, 2036 |
Fixed rate for first five years | 6.75% |
Due 2036, fixed rate of 6.75% during the first five years and at a floating rate of 1.85% [Member] | Trust Preferred Securities [Member] | LIBOR [Member] | |
Debt Instrument [Line Items] | |
Floating rate above three-month LIBOR rate | 1.85% |
Due 2034, fixed rate of 6.00% during the first five years and at a floating rate of 2.00% [Member] | Trust Preferred Securities [Member] | |
Debt Instrument [Line Items] | |
Subordinated debentures, issued date | Dec. 31, 2004 |
Subordinated debentures, due date | Dec. 31, 2034 |
Fixed rate for first five years | 6.00% |
Due 2034, fixed rate of 6.00% during the first five years and at a floating rate of 2.00% [Member] | Trust Preferred Securities [Member] | LIBOR [Member] | |
Debt Instrument [Line Items] | |
Floating rate above three-month LIBOR rate | 2.00% |
Due 2035, fixed rate of 5.84% during the first five years and at a floating rate of 1.45% [Member] | Trust Preferred Securities [Member] | |
Debt Instrument [Line Items] | |
Subordinated debentures, issued date | Dec. 31, 2005 |
Subordinated debentures, due date | Dec. 31, 2035 |
Fixed rate for first five years | 5.84% |
Due 2035, fixed rate of 5.84% during the first five years and at a floating rate of 1.45% [Member] | Trust Preferred Securities [Member] | LIBOR [Member] | |
Debt Instrument [Line Items] | |
Floating rate above three-month LIBOR rate | 1.45% |
Due 2034, fixed rate of 4.29% during the first five years and at a floating rate of 2.50% [Member] | Trust Preferred Securities [Member] | |
Debt Instrument [Line Items] | |
Subordinated debentures, issued date | Dec. 31, 2004 |
Subordinated debentures, due date | Dec. 31, 2034 |
Fixed rate for first five years | 4.29% |
Due 2034, fixed rate of 4.29% during the first five years and at a floating rate of 2.50% [Member] | Trust Preferred Securities [Member] | LIBOR [Member] | |
Debt Instrument [Line Items] | |
Floating rate above three-month LIBOR rate | 2.50% |
Due 2027, Fixed Rate of 5.625% During the First Five Years and at a Floating Rate of 3.575% [Member] | Subordinated Debt [Member] | |
Debt Instrument [Line Items] | |
Subordinated debentures, issued date | Jun. 30, 2017 |
Subordinated debentures, due date | Dec. 31, 2027 |
Fixed rate for first five years | 5.625% |
Due 2027, Fixed Rate of 5.625% During the First Five Years and at a Floating Rate of 3.575% [Member] | Subordinated Debt [Member] | LIBOR [Member] | |
Debt Instrument [Line Items] | |
Floating rate above three-month LIBOR rate | 3.575% |
Subordinated debentures, callable year | 2,022 |
Income Taxes - Summary of Compo
Income Taxes - Summary of Components of Provision (Benefit) for Income Taxes (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
Current: | ||||
Federal | $ 29,278 | $ 17,488 | $ 48,669 | $ 37,693 |
State | 5,815 | 3,474 | 9,667 | 7,487 |
Total current | 35,093 | 20,962 | 58,336 | 45,180 |
Deferred: | ||||
Federal | (4,014) | 4,224 | (2,236) | 4,661 |
State | (797) | 839 | (444) | 926 |
Total deferred | (4,811) | 5,063 | (2,680) | 5,587 |
Income tax expense | $ 30,282 | $ 26,025 | $ 55,656 | $ 50,767 |
Income Taxes - Reconciliation b
Income Taxes - Reconciliation between Statutory Federal Income Tax Rate and Effective Income Tax Rate (Detail) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
Effective Income Tax Rate Reconciliation, Percent [Abstract] | ||||
Statutory federal income tax rate | 35.00% | 35.00% | 35.00% | 35.00% |
Effect of non-taxable interest income | (1.36%) | (1.54%) | (1.43%) | (1.58%) |
Effect of gain on acquisitions | (0.87%) | |||
Stock compensation | (0.07%) | (0.55%) | ||
State income taxes, net of federal benefit | 4.12% | 4.06% | 4.03% | 4.07% |
Other | (0.02%) | (0.09%) | 0.29% | (0.08%) |
Effective income tax rate | 37.67% | 37.43% | 36.47% | 37.41% |
Income Taxes - Differences Betw
Income Taxes - Differences Between Tax Basis of Assets and Liabilities (Detail) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Deferred tax assets: | ||
Allowance for loan losses | $ 31,649 | $ 31,381 |
Deferred compensation | 2,567 | 3,925 |
Stock compensation | 3,121 | 669 |
Real estate owned | 3,464 | 2,296 |
Loan discounts | 20,119 | 9,157 |
Tax basis premium/discount on acquisitions | 13,318 | 14,757 |
Investments | 1,394 | 1,957 |
Other | 8,001 | 8,361 |
Gross deferred tax assets | 83,633 | 72,503 |
Deferred tax liabilities: | ||
Accelerated depreciation on premises and equipment | 1,097 | 2,154 |
Unrealized gain on securities available-for-sale | 4,159 | 258 |
Core deposit intangibles | 6,065 | 4,950 |
FHLB dividends | 1,926 | 1,926 |
Other | 2,018 | 1,917 |
Gross deferred tax liabilities | 15,265 | 11,205 |
Net deferred tax assets | $ 68,368 | $ 61,298 |
Common Stock, Compensation Pl83
Common Stock, Compensation Plans and Other - Additional Information (Detail) - USD ($) | Jan. 20, 2017 | Apr. 21, 2016 | Jun. 30, 2017 | May 31, 2017 | Apr. 30, 2017 | Jun. 30, 2017 | Dec. 31, 2016 | Jun. 30, 2016 | Dec. 31, 2016 |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||
Preferred stock, shares authorized | 5,500,000 | ||||||||
Preferred stock, par value | $ 0.01 | ||||||||
Number of additional shares authorized to repurchase | 5,000,000 | ||||||||
Number of shares authorized to be repurchased, total | 9,752,000 | ||||||||
Number of shares repurchased during period | 153,900 | 246,100 | 20,000 | 420,000 | 48,808 | 461,800 | |||
Weighted average stock price | $ 23.86 | $ 24.81 | $ 25.80 | $ 24.51 | |||||
Repurchase of combining of all the shares | 4,087,064 | ||||||||
Remaining balance available for repurchase | 5,664,936 | 5,664,936 | |||||||
Remaining shares of common stock available for future grants | 2,405,000 | 2,405,000 | |||||||
Shares of common stock reserved for issuance | 4,729,000 | 4,729,000 | |||||||
Number of additional shares associated to increase in shares authorized | 2,000,000 | ||||||||
Intrinsic value of stock options outstanding | $ 20,600,000 | $ 20,600,000 | |||||||
Intrinsic value of stock options vested | 11,300,000 | 11,300,000 | |||||||
Share-based compensation expenses related to non-vested awards | 863,000 | ||||||||
Unrecognized compensation cost net of income tax benefit, related to non-vested stock option awards | 6,000,000 | $ 6,000,000 | |||||||
Weighted average fair value of options granted (split adjusted) | $ 7.10 | $ 5.08 | |||||||
Restricted Shares [Member] | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||
Unrecognized compensation cost net of income tax benefit, related to non-vested stock option awards | $ 13,300,000 | $ 13,300,000 | |||||||
2006 Stock Option and Performance Incentive Plan [Member] | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||
Maximum number of shares available for grants under the plan | 11,288,000 | 11,288,000 |
Common Stock, Compensation Pl84
Common Stock, Compensation Plans and Other - Schedule of Purchases Made By or on Behalf of The Company of Shares of The Company's Common Stock (Detail) - $ / shares | 1 Months Ended | 6 Months Ended | ||||
Jun. 30, 2017 | May 31, 2017 | Apr. 30, 2017 | Jun. 30, 2017 | Dec. 31, 2016 | Jun. 30, 2016 | |
Schedule Of Share Repurchase Programs [Line Items] | ||||||
Number of Shares Purchased | 153,900 | 246,100 | 20,000 | 420,000 | 48,808 | 461,800 |
Average Price Paid Per Share Purchased | $ 23.86 | $ 24.81 | $ 25.80 | $ 24.51 | ||
Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs | 153,900 | 246,100 | 20,000 | 420,000 | 48,808 | 461,800 |
Maximum Number of Shares That May Yet Be Purchased Under the Plans or Programs | 5,664,936 | 5,664,936 | ||||
Maximum [Member] | ||||||
Schedule Of Share Repurchase Programs [Line Items] | ||||||
Maximum Number of Shares That May Yet Be Purchased Under the Plans or Programs | 5,664,936 | 5,818,836 | 6,064,936 | 5,664,936 |
Common Stock, Compensation Pl85
Common Stock, Compensation Plans and Other - Summary of Stock Option Transactions under Incentive Plan (Split Adjusted) (Detail) - $ / shares | 6 Months Ended | 12 Months Ended |
Jun. 30, 2017 | Dec. 31, 2016 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ||
Outstanding Shares, beginning of year | 2,397,000 | 2,794,000 |
Granted Shares | 80,000 | 140,000 |
Forfeited/Expired Shares | (14,000) | |
Exercised Shares | (153,000) | (523,000) |
Outstanding Shares, end of period | 2,324,000 | 2,397,000 |
Exercisable Shares, end of period | 897,000 | 639,000 |
Outstanding Weighted Average Exercisable Price, beginning of year | $ 15.19 | $ 12.71 |
Weighted Average Exercisable Price, Granted | 25.96 | 21.25 |
Weighted Average Exercisable Price, Forfeited/Expired | 17.28 | |
Weighted Average Exercisable Price, Exercised | 7.53 | 3.50 |
Outstanding, end of period | 16.07 | 15.19 |
Exercisable, end of period | $ 12.34 | $ 8.88 |
Common Stock, Compensation Pl86
Common Stock, Compensation Plans and Other - Summary of Stock Options on Valuation Assumptions (Detail) | 6 Months Ended | 12 Months Ended |
Jun. 30, 2017 | Dec. 31, 2016 | |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions and Methodology [Abstract] | ||
Expected dividend yield | 1.39% | 1.65% |
Expected stock price volatility | 28.47% | 26.66% |
Risk-free interest rate | 2.06% | 1.65% |
Expected life of options | 6 years 6 months | 6 years 6 months |
Common Stock, Compensation Pl87
Common Stock, Compensation Plans and Other - Summary of Currently Outstanding and Exercisable Options (Split Adjusted) (Detail) | 6 Months Ended |
Jun. 30, 2017$ / sharesshares | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |
Options Outstanding Shares | shares | 2,324,000 |
Options Exercisable Shares | shares | 897,000 |
Exercise Prices Range $2.10 to $2.66 [Member] | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |
Exercise Prices, Lower Range Limit | $ 2.10 |
Exercise Prices, Upper Range Limit | $ 2.66 |
Options Outstanding Shares | shares | 19,000 |
Options Exercisable Shares | shares | 19,000 |
Options Outstanding Weighted- Average Remaining Contractual Life (in years) | 1 year 8 months 5 days |
Options outstanding Weighted- Average Exercise Price | $ 2.55 |
Options Exercisable Weighted- Average Exercise Price | 2.55 |
Exercise Prices Range $4.27 to $4.62 [Member] | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |
Exercise Prices, Lower Range Limit | 4.27 |
Exercise Prices, Upper Range Limit | $ 4.62 |
Options Outstanding Shares | shares | 91,000 |
Options Exercisable Shares | shares | 91,000 |
Options Outstanding Weighted- Average Remaining Contractual Life (in years) | 6 months 18 days |
Options outstanding Weighted- Average Exercise Price | $ 4.28 |
Options Exercisable Weighted- Average Exercise Price | 4.28 |
Exercise Prices Range $5.08 to $6.56 [Member] | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |
Exercise Prices, Lower Range Limit | 5.08 |
Exercise Prices, Upper Range Limit | $ 6.56 |
Options Outstanding Shares | shares | 123,000 |
Options Exercisable Shares | shares | 123,000 |
Options Outstanding Weighted- Average Remaining Contractual Life (in years) | 4 years 1 month 24 days |
Options outstanding Weighted- Average Exercise Price | $ 6.45 |
Options Exercisable Weighted- Average Exercise Price | 6.45 |
Exercise Prices Range $8.62 to $9.54 [Member] | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |
Exercise Prices, Lower Range Limit | 8.62 |
Exercise Prices, Upper Range Limit | $ 9.54 |
Options Outstanding Shares | shares | 284,000 |
Options Exercisable Shares | shares | 224,000 |
Options Outstanding Weighted- Average Remaining Contractual Life (in years) | 5 years 8 months 5 days |
Options outstanding Weighted- Average Exercise Price | $ 9.09 |
Options Exercisable Weighted- Average Exercise Price | 9.08 |
Exercise Prices Range $14.71 to $16.86 [Member] | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |
Exercise Prices, Lower Range Limit | 16.86 |
Exercise Prices, Upper Range Limit | $ 14.71 |
Options Outstanding Shares | shares | 262,000 |
Options Exercisable Shares | shares | 124,000 |
Options Outstanding Weighted- Average Remaining Contractual Life (in years) | 7 years 3 months 4 days |
Options outstanding Weighted- Average Exercise Price | $ 16 |
Options Exercisable Weighted- Average Exercise Price | 16.12 |
Exercise Prices Range $17.12 to $17.40 [Member] | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |
Exercise Prices, Lower Range Limit | 17.12 |
Exercise Prices, Upper Range Limit | $ 17.4 |
Options Outstanding Shares | shares | 215,000 |
Options Exercisable Shares | shares | 94,000 |
Options Outstanding Weighted- Average Remaining Contractual Life (in years) | 7 years 5 months 5 days |
Options outstanding Weighted- Average Exercise Price | $ 17.19 |
Options Exercisable Weighted- Average Exercise Price | 17.21 |
Exercise Prices Range $18.46 to $18.46 [Member] | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |
Exercise Prices, Lower Range Limit | 18.46 |
Exercise Prices, Upper Range Limit | $ 18.46 |
Options Outstanding Shares | shares | 1,050,000 |
Options Exercisable Shares | shares | 184,000 |
Options Outstanding Weighted- Average Remaining Contractual Life (in years) | 8 years 1 month 24 days |
Options outstanding Weighted- Average Exercise Price | $ 18.46 |
Options Exercisable Weighted- Average Exercise Price | 18.46 |
Exercise Prices Range $20.16 to $20.58 [Member] | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |
Exercise Prices, Lower Range Limit | 20.16 |
Exercise Prices, Upper Range Limit | $ 20.58 |
Options Outstanding Shares | shares | 80,000 |
Options Exercisable Shares | shares | 14,000 |
Options Outstanding Weighted- Average Remaining Contractual Life (in years) | 8 years 3 months 8 days |
Options outstanding Weighted- Average Exercise Price | $ 20.37 |
Options Exercisable Weighted- Average Exercise Price | 20.34 |
Exercise Prices Range $21.25 to $21.25 [Member] | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |
Exercise Prices, Lower Range Limit | 21.25 |
Exercise Prices, Upper Range Limit | $ 21.25 |
Options Outstanding Shares | shares | 120,000 |
Options Exercisable Shares | shares | 24,000 |
Options Outstanding Weighted- Average Remaining Contractual Life (in years) | 8 years 9 months 22 days |
Options outstanding Weighted- Average Exercise Price | $ 21.25 |
Options Exercisable Weighted- Average Exercise Price | 21.25 |
Exercise Prices Range $25.96 to $25.96 [Member] | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |
Exercise Prices, Lower Range Limit | 25.96 |
Exercise Prices, Upper Range Limit | $ 25.96 |
Options Outstanding Shares | shares | 80,000 |
Options Outstanding Weighted- Average Remaining Contractual Life (in years) | 9 years 9 months 22 days |
Options outstanding Weighted- Average Exercise Price | $ 25.96 |
Common Stock, Compensation Pl88
Common Stock, Compensation Plans and Other - Summary of Company's Restricted Stock Issued and Outstanding (Split Adjusted) (Detail) - USD ($) shares in Thousands, $ in Thousands | 6 Months Ended | 12 Months Ended |
Jun. 30, 2017 | Dec. 31, 2016 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ||
Beginning of year | 958 | 975 |
Issued | 146 | 244 |
Vested | (45) | (256) |
Forfeited | (5) | |
End of period | 1,059 | 958 |
Amount of expense for six months and twelve months ended, respectively | $ 2,569 | $ 4,049 |
Non-Interest Expense - Componen
Non-Interest Expense - Components of Non-Interest Expense (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | Dec. 31, 2016 | |
Noninterest Expense [Abstract] | |||||
Salaries and employee benefits | $ 28,034 | $ 25,437 | $ 55,455 | $ 49,395 | |
Occupancy and equipment | 7,034 | 6,509 | 13,715 | 13,180 | |
Data processing expense | 2,863 | 2,766 | 5,586 | 5,430 | |
Other operating expenses: | |||||
Advertising | 812 | 733 | 1,510 | 1,556 | |
Merger and acquisition expenses | 789 | 7,516 | |||
Amortization of intangibles | 866 | 763 | 1,670 | 1,608 | $ 1,524 |
Electronic banking expense | 1,654 | 1,237 | 3,173 | 2,693 | |
Directors' fees | 324 | 289 | 637 | 564 | |
Due from bank service charges | 456 | 337 | 876 | 642 | |
FDIC and state assessment | 1,182 | 1,446 | 2,470 | 2,892 | |
Insurance | 543 | 544 | 1,121 | 1,077 | |
Legal and accounting | 474 | 658 | 1,101 | 1,181 | |
Other professional fees | 1,233 | 1,044 | 2,386 | 1,969 | |
Operating supplies | 477 | 419 | 944 | 855 | |
Postage | 295 | 260 | 581 | 546 | |
Telephone | 398 | 455 | 722 | 942 | |
Other expense | 3,569 | 4,690 | 6,681 | 8,705 | |
Total other operating expenses | 13,072 | 12,875 | 31,388 | 25,230 | |
Total non-interest expense | $ 51,003 | $ 47,587 | $ 106,144 | $ 93,235 |
Significant Estimates and Con90
Significant Estimates and Concentrations of Credit Risks - Additional Information (Detail) | 6 Months Ended | 12 Months Ended |
Jun. 30, 2017 | Dec. 31, 2016 | |
Loans Receivable [Member] | Geographic Concentration [Member] | South Alabama, Arkansas, Florida and New York City [Member] | ||
Commitment And Contingencies [Line Items] | ||
Concentration percentage | 89.60% | |
Loans Receivable [Member] | Commercial Real Estate [Member] | Credit Concentration [Member] | ||
Commitment And Contingencies [Line Items] | ||
Concentration percentage | 60.80% | 59.10% |
Loans Receivable [Member] | Residential Real Estate [Member] | Credit Concentration [Member] | ||
Commitment And Contingencies [Line Items] | ||
Concentration percentage | 24.40% | 23.00% |
Total Stockholders' Equity [Member] | Commercial Real Estate [Member] | Credit Concentration [Member] | ||
Commitment And Contingencies [Line Items] | ||
Concentration percentage | 322.60% | 328.90% |
Total Stockholders' Equity [Member] | Residential Real Estate [Member] | Credit Concentration [Member] | ||
Commitment And Contingencies [Line Items] | ||
Concentration percentage | 129.60% | 127.80% |
Residential Real Estate Loans [Member] | Geographic Concentration [Member] | South Alabama, Arkansas, Florida and New York City [Member] | ||
Commitment And Contingencies [Line Items] | ||
Concentration percentage | 90.70% |
Commitments and Contingencies -
Commitments and Contingencies - Additional Information (Detail) - USD ($) | Jun. 30, 2017 | Dec. 31, 2016 |
Commitments and Contingencies Disclosure [Abstract] | ||
Commitments to extend credit outstanding | $ 1,890,000,000 | $ 1,820,000,000 |
Maximum amount of future payments by the company | $ 45,800,000 | $ 41,100,000 |
Regulatory Matters - Additional
Regulatory Matters - Additional Information (Detail) $ in Millions | 6 Months Ended |
Jun. 30, 2017USD ($) | |
Regulatory Matters [Line Items] | |
Percentage of retained earnings plus current year earnings to be paid as maximum dividend | 75.00% |
Requested dividend by the company from its subsidiary | $ 38.1 |
Dividend equal to percentage of banking subsidiary's earnings | 37.00% |
Criteria 2 [Member] | Basel III [Member] | |
Regulatory Matters [Line Items] | |
Common equity Tier 1 risk-based capital ratio | 6.50% |
Tier 1 leverage capital ratio | 5.00% |
Tier 1 risk-based capital ratio | 8.00% |
Total risk-based capital ratio | 10.00% |
Common equity Tier 1 risk-based capital ratio | 11.79% |
Tier 1 leverage capital ratio | 10.54% |
Tier 1 risk-based capital ratio | 12.47% |
Risk-based capital ratio | 16.78% |
Additional Cash Flow Informat93
Additional Cash Flow Information - Additional Information (Detail) - USD ($) $ in Thousands | Feb. 28, 2017 | Feb. 23, 2017 |
Giant Holdings, Inc. [Member] | ||
Supplemental Cash Flow Information [Line Items] | ||
Business combination, common stock issued, shares | 2,738,038 | |
Business combination, common stock issued, value | $ 77,500 | |
Business combination consideration paid in cash | 18,500 | |
Business combination, recognized identifiable assets acquired, Total Assets | 398,100 | |
Business combination, recognized identifiable assets acquired, cash and cash equivalents | 41,019 | |
Assets acquired and liabilities assumed net | 345,043 | |
Cash paid for acquisition | $ 96,015 | |
The Bank of Commerce [Member] | ||
Supplemental Cash Flow Information [Line Items] | ||
Business combination, recognized identifiable assets acquired, Total Assets | $ 178,093 | |
Business combination, recognized identifiable assets acquired, cash and cash equivalents | 4,610 | |
Assets acquired and liabilities assumed net | 170,111 | |
Equity issued | 0 | |
Cash paid for acquisition | 4,175 | |
Bargain purchase gain | $ 3,807 |
Additional Cash Flow Informat94
Additional Cash Flow Information - Summary of Additional Cash Flow Information (Detail) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2017 | Jun. 30, 2016 | |
Additional Cash Flow Elements and Supplemental Cash Flow Information [Abstract] | ||
Interest paid | $ 20,491 | $ 14,572 |
Income taxes paid | 74,542 | 47,250 |
Assets acquired by foreclosure | $ 9,137 | $ 6,440 |
Financial Instruments - Additio
Financial Instruments - Additional Information (Detail) - USD ($) | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | Dec. 31, 2016 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Carrying value of foreclosed assets held for sale | $ 144,000,000,000 | $ 144,000,000,000 | |||
Write-down foreclosed assets | 144,000 | ||||
Fair Value, Level 3 Inputs [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Material transfers between hierarchy levels | 0 | $ 0 | |||
Fair value of loans with specific allocated losses | 75,200,000 | 75,200,000 | 91,500,000 | ||
Accrued interest receivable reversed | 111,000 | $ 239,000 | 209,000 | $ 307,000 | |
Fair value of foreclosed assets held for sale | $ 18,800,000 | $ 18,800,000 | $ 16,000,000 | ||
Minimum [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Percentage of Collateral discount | 20.00% | ||||
Maximum [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Percentage of Collateral discount | 50.00% |
Financial Instruments - Estimat
Financial Instruments - Estimated Fair Values of Financial Instruments (Detail) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investment securities - held-to-maturity | $ 254,161 | $ 284,176 |
Carrying Amount [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Federal funds purchased | 0 | |
Carrying Amount [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Cash and cash equivalents | 460,488 | 216,649 |
Federal funds sold | 1,550 | |
Accrued interest receivable | 32,445 | 30,838 |
Demand and non-interest bearing | 1,957,677 | 1,695,184 |
Savings and interest-bearing transaction accounts | 4,335,456 | 3,963,241 |
Securities sold under agreements to repurchase | 133,741 | 121,290 |
Accrued interest payable | 6,619 | 1,920 |
Carrying Amount [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investment securities - held-to-maturity | 254,161 | 284,176 |
FHLB and other borrowed funds | 1,099,478 | 1,305,198 |
Carrying Amount [Member] | Fair Value, Level 3 Inputs [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Loans receivable, net of impaired loans and allowance | 7,679,164 | 7,216,199 |
Time deposits | 1,474,255 | 1,284,002 |
Subordinated debentures | 357,838 | 60,826 |
Fair Value [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Federal funds purchased | 0 | |
Fair Value [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Cash and cash equivalents | 460,488 | 216,649 |
Federal funds sold | 1,550 | |
Accrued interest receivable | 32,445 | 30,838 |
Demand and non-interest bearing | 1,957,677 | 1,695,184 |
Savings and interest-bearing transaction accounts | 4,335,456 | 3,963,241 |
Securities sold under agreements to repurchase | 133,741 | 121,290 |
Accrued interest payable | 6,619 | 1,920 |
Fair Value [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investment securities - held-to-maturity | 258,682 | 287,038 |
FHLB and other borrowed funds | 1,100,398 | 1,311,280 |
Fair Value [Member] | Fair Value, Level 3 Inputs [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Loans receivable, net of impaired loans and allowance | 7,517,442 | 7,131,199 |
Time deposits | 1,459,915 | 1,275,634 |
Subordinated debentures | $ 357,838 | $ 60,826 |