Document and Entity Information
Document and Entity Information - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Feb. 21, 2018 | Jun. 30, 2017 | |
Document And Entity Information [Abstract] | |||
Document Type | 10-K | ||
Amendment Flag | false | ||
Document Period End Date | Dec. 31, 2017 | ||
Document Fiscal Year Focus | 2,017 | ||
Document Fiscal Period Focus | FY | ||
Trading Symbol | HOMB | ||
Entity Registrant Name | HOME BANCSHARES INC | ||
Entity Central Index Key | 1,331,520 | ||
Current Fiscal Year End Date | --12-31 | ||
Entity Well-known Seasoned Issuer | Yes | ||
Entity Current Reporting Status | Yes | ||
Entity Voluntary Filers | No | ||
Entity Filer Category | Large Accelerated Filer | ||
Entity Common Stock, Shares Outstanding | 173,784,964 | ||
Entity Public Float | $ 3,160 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Assets | ||
Cash and due from banks | $ 166,915 | $ 123,758 |
Interest-bearing deposits with other banks | 469,018 | 92,891 |
Cash and cash equivalents | 635,933 | 216,649 |
Federal funds sold | 24,109 | 1,550 |
Investment securities - available-for-sale | 1,663,517 | 1,072,920 |
Investment securities - held-to-maturity | 224,756 | 284,176 |
Loans receivable | 10,331,188 | 7,387,699 |
Allowance for loan losses | (110,266) | (80,002) |
Loans receivable, net | 10,220,922 | 7,307,697 |
Bank premises and equipment, net | 237,439 | 205,301 |
Foreclosed assets held for sale | 18,867 | 15,951 |
Cash value of life insurance | 146,866 | 86,491 |
Accrued interest receivable | 45,708 | 30,838 |
Deferred tax asset, net | 76,564 | 61,298 |
Goodwill | 927,949 | 377,983 |
Core deposit and other intangibles | 49,351 | 18,311 |
Other assets | 177,779 | 129,300 |
Total assets | 14,449,760 | 9,808,465 |
Deposits: | ||
Demand and non-interest-bearing | 2,385,252 | 1,695,184 |
Savings and interest-bearing transaction accounts | 6,476,819 | 3,963,241 |
Time deposits | 1,526,431 | 1,284,002 |
Total deposits | 10,388,502 | 6,942,427 |
Securities sold under agreements to repurchase | 147,789 | 121,290 |
FHLB and other borrowed funds | 1,299,188 | 1,305,198 |
Accrued interest payable and other liabilities | 41,959 | 51,234 |
Subordinated debentures | 368,031 | 60,826 |
Total liabilities | 12,245,469 | 8,480,975 |
Stockholders' equity: | ||
Common stock, par value $0.01; shares authorized 200,000,000 in 2017 and 2016; shares issued and outstanding 173,632,983 in 2017 and 140,472,205 in 2016 | 1,736 | 1,405 |
Capital surplus | 1,675,318 | 869,737 |
Retained earnings | 530,658 | 455,948 |
Accumulated other comprehensive (loss) income | (3,421) | 400 |
Total stockholders' equity | 2,204,291 | 1,327,490 |
Total liabilities and stockholders' equity | $ 14,449,760 | $ 9,808,465 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - $ / shares | Dec. 31, 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 | 173,632,983 | 140,472,205 |
Common stock, shares outstanding | 173,632,983 | 140,472,205 |
Consolidated Statements of Inco
Consolidated Statements of Income - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Interest income: | |||
Loans | $ 479,189 | $ 403,394 | $ 344,290 |
Investment securities | |||
Taxable | 26,776 | 21,246 | 21,695 |
Tax-exempt | 11,967 | 11,417 | 11,194 |
Deposits - other banks | 2,309 | 471 | 233 |
Federal funds sold | 10 | 9 | 24 |
Total interest income | 520,251 | 436,537 | 377,436 |
Interest expense: | |||
Interest on deposits | 33,777 | 15,926 | 12,971 |
Federal funds purchased | 1 | 2 | 4 |
FHLB and other borrowed funds | 14,513 | 12,484 | 6,774 |
Securities sold under agreements to repurchase | 918 | 574 | 621 |
Subordinated debentures | 15,137 | 1,593 | 1,354 |
Total interest expense | 64,346 | 30,579 | 21,724 |
Net interest income | 455,905 | 405,958 | 355,712 |
Provision for loan losses | 44,250 | 18,608 | 25,164 |
Net interest income after provision for loan losses | 411,655 | 387,350 | 330,548 |
Non-interest income: | |||
Service charges on deposit accounts | 24,922 | 25,049 | 24,252 |
Other service charges and fees | 36,127 | 30,200 | 26,186 |
Trust fees | 1,678 | 1,457 | 2,381 |
Mortgage lending income | 13,286 | 14,399 | 10,423 |
Insurance commissions | 1,948 | 2,296 | 2,268 |
Increase in cash value of life insurance | 1,989 | 1,412 | 1,199 |
Dividends from FHLB, FRB, Bankers' bank & other | 3,485 | 3,091 | 1,698 |
Gain on acquisitions | 3,807 | 1,635 | |
Gain on sale of SBA loans | 738 | 1,088 | 541 |
Gain (loss) on sale of branches, equipment and other assets, net | (960) | 700 | (214) |
Gain (loss) on OREO, net | 1,025 | (554) | (317) |
Gain (loss) on securities, net | 2,132 | 669 | 4 |
FDIC indemnification accretion/(amortization), net | (772) | (9,391) | |
Other income | 9,459 | 8,016 | 4,833 |
Total non-interest income | 99,636 | 87,051 | 65,498 |
Non-interest expense: | |||
Salaries and employee benefits | 119,369 | 101,962 | 87,512 |
Occupancy and equipment | 30,611 | 26,129 | 25,967 |
Data processing expense | 11,998 | 10,499 | 10,774 |
Other operating expenses | 78,230 | 53,165 | 53,302 |
Total non-interest expense | 240,208 | 191,755 | 177,555 |
Income before income taxes | 271,083 | 282,646 | 218,491 |
Income tax expense | 136,000 | 105,500 | 80,292 |
Net income | $ 135,083 | $ 177,146 | $ 138,199 |
Basic earnings per common share | $ 0.90 | $ 1.26 | $ 1.01 |
Diluted earnings per common share | $ 0.89 | $ 1.26 | $ 1.01 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Statement of Comprehensive Income [Abstract] | |||
Net income available to all stockholders | $ 135,083 | $ 177,146 | $ 138,199 |
Net unrealized gain (loss) on available-for-sale securities | (3,419) | (5,546) | (4,656) |
Less: reclassification adjustment for realized (gains) losses included in income | (2,132) | (669) | (4) |
Effect of tax rate change on unrealized gain (loss) on available-for-salesecurities | (737) | ||
Other comprehensive income (loss), before tax effect | (6,288) | (6,215) | (4,660) |
Tax effect on other comprehensive (loss) income | 2,467 | 2,438 | 1,828 |
Other comprehensive income (loss) | (3,821) | (3,777) | (2,832) |
Comprehensive income | $ 131,262 | $ 173,369 | $ 135,367 |
Consolidated Statements of Stoc
Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands | Total | Florida Business BancGroup Inc. [Member] | Giant Holdings, Inc. [Member] | Stonegate Bank [Member] | Common Stock [Member] | Common Stock [Member]Florida Business BancGroup Inc. [Member] | Common Stock [Member]Giant Holdings, Inc. [Member] | Common Stock [Member]Stonegate Bank [Member] | Capital Surplus [Member] | Capital Surplus [Member]Florida Business BancGroup Inc. [Member] | Capital Surplus [Member]Giant Holdings, Inc. [Member] | Capital Surplus [Member]Stonegate Bank [Member] | Retained Earnings [Member] | Accumulated Other Comprehensive Income (Loss) [Member] |
Beginning Balance at Dec. 31, 2014 | $ 1,015,292 | $ 676 | $ 781,328 | $ 226,279 | $ 7,009 | |||||||||
Comprehensive income: | ||||||||||||||
Net income | 138,199 | 138,199 | ||||||||||||
Other comprehensive income (loss) | (2,832) | (2,832) | ||||||||||||
Net issuance of shares of common stock from exercise of stock options | 389 | 2 | 387 | |||||||||||
Issuance of common stock | $ 83,774 | $ 21 | $ 83,753 | |||||||||||
Repurchase of shares of common stock | (2,015) | (1) | (2,014) | |||||||||||
Tax benefit from stock options exercised | 605 | 605 | ||||||||||||
Share-based compensation net issuance of shares of restricted common stock | 3,925 | 3 | 3,922 | |||||||||||
Cash dividends - Common Stock | (37,580) | (37,580) | ||||||||||||
Ending balance at Dec. 31, 2015 | 1,199,757 | 701 | 867,981 | 326,898 | 4,177 | |||||||||
Comprehensive income: | ||||||||||||||
Net income | 177,146 | 177,146 | ||||||||||||
Other comprehensive income (loss) | (3,777) | (3,777) | ||||||||||||
Net issuance of shares of common stock from exercise of stock options plus issuance of bonus shares of unrestricted common stock | 1,495 | 3 | 1,492 | |||||||||||
Issuance of common stock - 2-for-1 stock split | 702 | (702) | ||||||||||||
Repurchase of shares of common stock | (9,817) | (3) | (9,814) | |||||||||||
Tax benefit from stock options exercised | 4,154 | 4,154 | ||||||||||||
Share-based compensation net issuance of shares of restricted common stock | 6,628 | 2 | 6,626 | |||||||||||
Cash dividends - Common Stock | (48,096) | (48,096) | ||||||||||||
Ending balance at Dec. 31, 2016 | 1,327,490 | 1,405 | 869,737 | 455,948 | 400 | |||||||||
Comprehensive income: | ||||||||||||||
Net income | 135,083 | 135,083 | ||||||||||||
Other comprehensive income (loss) | (3,821) | (3,821) | ||||||||||||
Net issuance of shares of common stock from exercise of stock options | 1,082 | 2 | 1,080 | |||||||||||
Issuance of common stock | $ 77,317 | $ 741,633 | $ 27 | $ 309 | $ 77,290 | $ 741,324 | ||||||||
Repurchase of shares of common stock | (20,825) | (9) | (20,816) | |||||||||||
Share-based compensation net issuance of shares of restricted common stock | 6,705 | 2 | 6,703 | |||||||||||
Cash dividends - Common Stock | (60,373) | (60,373) | ||||||||||||
Ending balance at Dec. 31, 2017 | $ 2,204,291 | $ 1,736 | $ 1,675,318 | $ 530,658 | $ (3,421) |
Consolidated Statements of Sto7
Consolidated Statements of Stockholders' Equity (Parenthetical) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017USD ($)$ / sharesshares | Dec. 31, 2016$ / sharesshares | Dec. 31, 2015USD ($)$ / sharesshares | |
Net issuance of shares of common stock from exercise of stock options | 185,116 | 492,739 | 409,072 |
Issuance of bonus shares of unrestricted common stock | 10,000 | ||
Stock split conversion ratio | 2 | ||
Net issuance cost of common stock | $ | $ 825 | $ 60 | |
Common stock shares repurchased | 857,800 | 510,608 | 134,664 |
Issuance of restricted common stock | 231,766 | 243,734 | 665,668 |
Common stock, cash dividends per share | $ / shares | $ 0.4000 | $ 0.3425 | $ 0.2750 |
Florida Business BancGroup Inc. [Member] | |||
Net issuance of shares of common stock | 4,159,708 | ||
Net issuance cost of common stock | $ | $ 60 | ||
Giant Holdings, Inc. [Member] | |||
Net issuance of shares of common stock | 2,738,038 | ||
Net issuance cost of common stock | $ | $ 195 | ||
Stonegate Bank [Member] | |||
Net issuance of shares of common stock | 30,863,658 | ||
Net issuance cost of common stock | $ | $ 630 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Operating Activities | |||
Net income | $ 135,083 | $ 177,146 | $ 138,199 |
Adjustments to reconcile net income to net cash provided by (used in) operating activities: | |||
Depreciation | 11,995 | 10,644 | 10,296 |
Amortization/(accretion) | 17,638 | 15,495 | 21,783 |
Share-based compensation | 6,705 | 6,628 | 3,925 |
Tax benefits from stock options exercised | (4,154) | (605) | |
(Gain) loss on assets | (4,223) | 1,978 | (6) |
Gain on acquisitions | (3,807) | (1,635) | |
Provision for loan losses | 44,250 | 18,608 | 25,164 |
Deferred income tax effect | 34,084 | 12,705 | 7,168 |
Increase in cash value of life insurance | (1,989) | (1,412) | (1,199) |
Originations of mortgage loans held for sale | (333,558) | (354,481) | (280,858) |
Proceeds from sales of mortgage loans held for sale | 345,501 | 337,128 | 272,107 |
Changes in assets and liabilities: | |||
Accrued interest receivable | (6,451) | (1,706) | (3,615) |
Indemnification and other assets | (37,285) | (11,520) | (10,312) |
Accrued interest payable and other liabilities | (31,033) | 10,985 | 24,651 |
Net cash provided by (used in) operating activities | 176,910 | 218,044 | 205,063 |
Investing Activities | |||
Net (increase) decrease in federal funds sold | (21,044) | (1,300) | |
Net (increase) decrease in loans, excluding loans acquired | (172,935) | (764,665) | (874,092) |
Purchases of investment securities - available-for-sale | (692,482) | (253,458) | (382,631) |
Proceeds from maturities of investment securities - available-for-sale | 184,280 | 284,392 | 290,506 |
Proceeds from sale of investment securities - available-for-sale | 32,732 | 87,157 | 4,034 |
Purchases of investment securities - held-to-maturity | (281) | (25,933) | (6,563) |
Proceeds from maturities of investment securities - held-to-maturity | 58,162 | 49,231 | 52,127 |
Proceeds from qualified sale of investment securities - held-to-maturity | 491 | ||
Proceeds from foreclosed assets held for sale | 18,734 | 13,978 | 20,928 |
Proceeds from sale of SBA loans | 13,630 | 17,910 | 8,256 |
Proceeds from sale of insurance book of business | 2,938 | ||
Purchases of premises and equipment, net | (5,191) | (3,082) | (10,536) |
Return of investment on cash value of life insurance | 592 | 57 | 27 |
Net cash proceeds (paid) received - market acquisitions | 227,842 | 144,097 | |
Cash (paid) on FDIC loss share buy-out | (6,613) | ||
Net cash provided by (used in) investing activities | (355,470) | (601,026) | (752,209) |
Financing Activities | |||
Net increase (decrease) in deposits, excluding deposits acquired | 476,623 | 503,918 | 74,992 |
Net increase (decrease) in securities sold under agreements to repurchase | 336 | (7,099) | (48,076) |
Net increase (decrease) in FHLB and other borrowed funds | (95,375) | (100,747) | 702,186 |
Proceeds from exercise of stock options | 1,082 | 1,495 | 389 |
Proceeds from issuance of subordinated debentures | 297,201 | ||
Repurchase of common stock | (20,825) | (9,817) | (2,015) |
Common stock issuance costs - market acquisitions | (825) | (60) | |
Tax benefits from stock options exercised | 4,154 | 605 | |
Dividends paid on common stock | (60,373) | (48,096) | (37,580) |
Net cash provided by (used in) financing activities | 597,844 | 343,808 | 690,441 |
Net change in cash and cash equivalents | 419,284 | (39,174) | 143,295 |
Cash and cash equivalents - beginning of year | 216,649 | 255,823 | 112,528 |
Cash and cash equivalents - end of year | $ 635,933 | $ 216,649 | $ 255,823 |
Nature of Operations and Summar
Nature of Operations and Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 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 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 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 banking services and branch locations are considered by management to be aggregated into one reportable operating segment. 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. Cash and Cash Equivalents Cash and cash equivalents consist of cash on hand, cash held as demand deposits at various banks and the Federal Reserve Bank (“FRB”) and interest-bearing deposits with other banks. The Bank is required to maintain an average reserve balance with either the FRB or in the form of cash on hand. The required reserve balance at December 31, 2017 was $103.2 million. Investment Securities Interest on investment securities is recorded as income as earned. Amortization of premiums and accretion of discounts are recorded as interest income from securities. Realized gains and losses are recorded as net security gains (losses). Gains or losses on the sale of securities are determined using the specific identification method. Management determines the classification of securities as available-for-sale, held-to-maturity, Securities available-for-sale available-for-sale available-for-sale. Securities held-to-maturity Loans Receivable and Allowance for Loan Losses Loans receivable that management has the intent and ability to hold for the foreseeable future or until maturity or payoff are reported at their outstanding principal balance adjusted for any charge-offs, deferred fees or costs on originated loans. Interest income on loans is accrued over the term of the loans based on the principal balance outstanding. Loan origination fees and direct origination costs are capitalized and recognized as adjustments to yield on the related loans. The allowance for loan losses is established through a provision for loan losses charged against income. The allowance represents an amount that, in management’s judgment, will be adequate to absorb probable credit losses on existing loans that may become uncollectible and probable credit losses inherent in the remainder of the loan portfolio. The amounts of provisions to the allowance for loan losses are based on management’s analysis and evaluation of the loan portfolio for identification of problem credits, internal and external factors that may affect collectability, relevant credit exposure, particular risks inherent in different kinds of lending, current collateral values and other relevant factors. The allowance consists of allocated and general components. The allocated component relates to loans that are classified as impaired. For those loans that are classified as impaired, an allowance is established when the discounted cash flows, collateral value or observable market price of the impaired loan is lower than the carrying value of that loan. The general component covers non-classified charge-off 310-30, Loans Acquired with Deteriorated Credit Quality, Loans considered impaired, under FASB ASC 310-10-35, Groups of loans with similar risk characteristics are collectively evaluated for impairment based on the group’s historical loss experience adjusted for changes in trends, conditions and other relevant factors that affect repayment of the loans. Loans are placed on non-accrual non-accrual non-accrual Non-accrual six-month Acquisition Accounting and Acquired Loans The Company accounts for its acquisitions under FASB ASC Topic 805, Business Combinations Fair Value Measurements Over the life of the purchased loans, the Company continues to estimate cash flows expected to be collected on individual loans or on pools of loans sharing common risk characteristics and are treated in the aggregate when applying various valuation techniques. The Company evaluates at each balance sheet date whether the present value of its loans determined using the effective interest rates has significantly decreased and if so, recognizes a provision for loan loss in its consolidated statement of income. For any significant increases in cash flows expected to be collected, the Company adjusts the amount of accretable yield recognized on a prospective basis over the loan’s or pool’s weighted-average life. For further discussion of the Company’s acquisitions, see Note 2 to the Notes to Consolidated Financial Statements. Foreclosed Assets Held for Sale Real estate and personal properties acquired through or in lieu of loan foreclosure are to be sold and are initially recorded at fair value less cost to sell at the date of foreclosure, establishing a new cost basis. Valuations are periodically performed by management, and the real estate and personal properties are carried at fair value less costs to sell. Gains and losses from the sale of other real estate and personal properties are recorded in non-interest non-interest Bank Premises and Equipment Bank premises and equipment are carried at cost or fair market value at the date of acquisition less accumulated depreciation. Depreciation expense is computed using the straight-line method over the estimated useful lives of the assets. Accelerated depreciation methods are used for tax purposes. Leasehold improvements are capitalized and amortized using the straight-line method over the terms of the respective leases or the estimated useful lives of the improvements whichever is shorter. The assets’ estimated useful lives for book purposes are as follows: Bank premises 15-40 years Furniture, fixtures, and equipment 3-15 years Cash value of life insurance The Company has purchased life insurance policies on certain key employees. Life insurance owned by the Company is recorded at the amount that can be realized under the insurance contract at the balance sheet date, which is the cash surrender value adjusted for other charges or other amounts due that are probable at settlement. Intangible Assets Intangible assets consist of goodwill and core deposit intangibles. Goodwill represents the excess purchase price over the fair value of net assets acquired in business acquisitions. The core deposit intangible represents the excess intangible value of acquired deposit customer relationships as determined by valuation specialists. The core deposit intangibles are being amortized over 48 to 121 months on a straight-line basis. Goodwill is not amortized but rather is evaluated for impairment on at least an annual basis. The Company performed its annual impairment test of goodwill and core deposit intangibles during 2017, 2016 and 2015, as required by FASB ASC 350, Intangibles - Goodwill and Other Securities Sold Under Agreements to Repurchase Securities sold under agreements to repurchase consist of obligations of the Company to other parties. At the point funds deposited by customers become investable, those funds are used to purchase securities owned by the Company and held in its general account with the designation of Customers’ Securities. A third party maintains control over the securities underlying overnight repurchase agreements. The securities involved in these transactions are generally U.S. Treasury or Federal Agency issues. Securities sold under agreements to repurchase generally mature on the banking day following that on which the investment was initially purchased and are treated as collateralized financing transactions which are recorded at the amounts at which the securities were sold plus accrued interest. Interest rates and maturity dates of the securities involved vary and are not intended to be matched with funds from customers. Derivative Financial Instruments The Company may enter into derivative contracts for the purposes of managing exposure to interest rate risk. The Company records all derivatives on the consolidated balance sheet at fair value. Historically the Company’s policy has been not to invest in derivative type investments. During 2017, the Company acquired standalone derivative financial instruments from Stonegate. These derivative financial instruments consist of interest rate swaps and are recognized as assets and liabilities in the consolidated statements of financial condition at fair value. The Bank’s derivative instruments have not been designated as hedging instruments. These undesignated derivative instruments are recognized on the consolidated balance sheet at fair value, with changes in fair value recorded in other noninterest income. As of December 31, 2017, these derivative instruments are not considered to be material to the Company’s financial position and results of operations. In addition, as of December 31, 2017, the Company had derivative contracts outstanding associated with the mortgage loans held for sale portfolio. As of December 31, 2016, the Company had no derivative contracts outstanding except for commitments associated with the mortgage loans held for sale portfolio. Stock Options The Company accounts for stock options in accordance with FASB ASC 718, Compensation - Stock Compensation, 505-50, Equity-Based Payments to Non-Employees In March 2016, the FASB issued ASU 2016-09, Compensation - Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting 2016-09. Termination of Remaining Loss-Share Agreements Effective July 27, 2016, we reached an agreement terminating our remaining loss-share agreements with the FDIC. As a result, $57.4 million of the loans, previously under loss-share agreements including their associated discounts which were previously classified as covered loans, migrated to non-covered one-time true-up pre-tax Income Taxes The Company accounts for income taxes in accordance with income tax accounting guidance (ASC 740, Income Taxes Deferred income tax expense results from changes in deferred tax assets and liabilities between periods. Deferred tax assets are recognized if it is more likely than not, based on the technical merits, that the tax position will be realized or sustained upon examination. The term more likely than not means a likelihood of more than 50 percent; the terms examined and upon examination also include resolution of the related appeals or litigation processes, if any. A tax position that meets the more-likely-than-not more-likely-than-not The Company and its subsidiaries file consolidated tax returns. Its subsidiary provides for income taxes on a separate return basis, and remits to the Company amounts determined to be currently payable. 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 years ended December 31: 2017 2016 2015 (In thousands, except per share data) Net income $ 135,083 $ 177,146 $ 138,199 Average common shares outstanding 150,806 140,418 136,615 Effect of common stock options 722 295 515 Diluted common shares outstanding 151,528 140,713 137,130 Basic earnings per common share $ 0.90 $ 1.26 $ 1.01 Diluted earnings per common share $ 0.89 $ 1.26 $ 1.01 |
Business Combinations
Business Combinations | 12 Months Ended |
Dec. 31, 2017 | |
Business Combinations [Abstract] | |
Business Combinations | 2. Business Combinations Acquisition of Stonegate Bank On September 26, 2017, the Company completed the acquisition of all of the issued and outstanding shares of common stock of Stonegate Bank (“Stonegate”), and merged Stonegate into Centennial. The Company paid a purchase price to the Stonegate shareholders of approximately $792.4 million for the Stonegate acquisition. Under the terms of the merger agreement, shareholders of Stonegate received 30,863,658 shares of HBI common stock valued at approximately $742.3 million plus approximately $50.1 million in cash in exchange for all outstanding shares of Stonegate common stock. In addition, the holders of outstanding stock options of Stonegate received approximately $27.6 million in cash in connection with the cancellation of their options immediately before the acquisition closed, for a total transaction value of approximately $820.0 million. Including the effects of the known purchase accounting adjustments, as of acquisition date, Stonegate had approximately $2.89 billion in total assets, $2.37 billion in loans and $2.53 billion in customer deposits. Stonegate formerly operated its banking business from 24 locations in key Florida markets with significant presence in Broward and Sarasota counties. The Company has determined that the acquisition of the net assets of Stonegate 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: Stonegate Bank Acquired from Stonegate Fair Value As Recorded by HBI (Dollars in thousands) Assets Cash and due from banks $ 100,958 $ — $ 100,958 Interest-bearing deposits with other banks 135,631 — 135,631 Federal funds sold 1,515 — 1,515 Investment securities 103,041 474 103,515 Loans receivable 2,446,149 (74,067 ) 2,372,082 Allowance for loan losses (21,507 ) 21,507 — Loans receivable, net 2,424,642 (52,560 ) 2,372,082 Bank premises and equipment, net 38,868 (3,572 ) 35,296 Foreclosed assets held for sale 4,187 (801 ) 3,386 Cash value of life insurance 48,000 — 48,000 Accrued interest receivable 7,088 — 7,088 Deferred tax asset, net 27,340 11,990 39,330 Goodwill 81,452 (81,452 ) — Core deposit and other intangibles 10,505 20,364 30,869 Other assets 9,598 255 9,853 Total assets acquired $ 2,992,825 $ (105,302 ) $ 2,887,523 Liabilities Deposits Demand and non-interest-bearing $ 585,959 $ — $ 585,959 Savings and interest-bearing transaction accounts 1,776,256 — 1,776,256 Time deposits 163,567 (85 ) 163,482 Total deposits 2,525,782 (85 ) 2,525,697 FHLB borrowed funds 32,667 184 32,851 Securities sold under agreements to repurchase 26,163 — 26,163 Accrued interest payable and other liabilities 8,100 (484 ) 7,616 Subordinated debentures 8,345 1,489 9,834 Total liabilities assumed 2,601,057 1,104 2,602,161 Equity Total equity assumed 391,768 (391,768 ) — Total liabilities and equity assumed $ 2,992,825 $ (390,664 ) 2,602,161 Net assets acquired 285,362 Purchase price 792,370 Goodwill $ 507,008 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, interest-bearing deposits with other banks and federal funds sold Investment securities Loans The Company evaluated $2.37 billion 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 Cash value of life insurance Accrued interest receivable Deferred tax asset Core deposit intangible Deposits FHLB borrowed funds Securities sold under agreements to repurchase Accrued interest payable and other liabilities Subordinated debentures The unaudited pro-forma Years Ended December 31, 2017 2016 (In thousands, except per share data) Total interest income $ 610,697 $ 538,258 Total non-interest 107,179 95,555 Net income available to all shareholders 143,979 206,081 Basic earnings per common share $ 0.79 $ 1.20 Diluted earnings per common share 0.79 1.20 The unaudited pro-forma in-market Acquisition of The Bank of Commerce On February 28, 2017, the Company completed its previously announced acquisition of all of the issued and outstanding shares of common stock of The Bank of Commerce (“BOC”), a Florida state-chartered bank that operated in the Sarasota, Florida area, pursuant to an acquisition agreement, dated December 1, 2016, by and between HBI and Bank of Commerce Holdings, Inc. (“BCHI”), parent company of BOC. The Company 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, the Company 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, net — 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 December 31, 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 December 31, 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 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, net 2,286 1,807 4,093 Core deposit and other intangibles 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 December 31, 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 December 31, 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 Florida Business BancGroup, Inc. On October 1, 2015, the Company completed its acquisition of Florida Business BancGroup, Inc. (“FBBI”), parent company of Bay Cities Bank (“Bay Cities”). The Company paid a purchase price to the FBBI shareholders of $104.1 million for the FBBI acquisition. Under the terms of the agreement, shareholders of FBBI received 4,159,708 shares of its common stock valued at approximately $83.8 million as of October 1, 2015, plus approximately $20.3 million in cash in exchange for all outstanding shares of FBBI common stock. A portion of the cash consideration, $2.0 million, was placed into escrow with the FBBI shareholders having a contingent right to receive their pro-rata FBBI formerly operated six branch locations and a loan production office in the Tampa Bay area and in Sarasota, Florida. Including the effects of any purchase accounting adjustments, as of October 1, 2015, FBBI had approximately $529.6 million in total assets, $408.3 million in loans after $14.1 million of loan discounts, and $472.0 million in deposits. The Company has determined that the acquisition of the net assets of FBBI 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: Florida Business BancGroup, Inc. Acquired from FBBI Fair Value As Recorded by HBI (Dollars in thousands) Assets Cash and due from banks $ 23,597 $ — $ 23,597 Investment securities 61,384 611 61,995 Loans 422,363 (14,096 ) 408,267 Allowance for loan losses (5,714 ) 5,714 — Total loans receivable 416,649 (8,382 ) 408,267 Bank premises and equipment, net 6,922 (1,697 ) 5,225 Foreclosed assets held for sale 205 (43 ) 162 Cash value of life insurance 9,540 — 9,540 Accrued interest receivable 1,442 — 1,442 Deferred tax asset 10,608 1,070 11,678 Core deposit intangible — 3,477 3,477 Other assets 1,289 2,890 4,179 Total assets acquired $ 531,636 $ (2,074 ) $ 529,562 Liabilities Deposits Demand and non-interest-bearing $ 150,625 $ — $ 150,625 Savings and interest-bearing transaction accounts 166,990 — 166,990 Time deposits 153,230 1,127 154,357 Total deposits 470,845 1,127 471,972 FHLB borrowed funds 5,000 802 5,802 Accrued interest payable and other liabilities 3,208 (319 ) 2,889 Total liabilities assumed 479,053 1,610 480,663 Equity Total equity assumed 52,583 (52,583 ) — Total liabilities and equity assumed $ 531,636 $ (50,973 ) 480,663 Net assets acquired 48,899 Purchase Price 104,154 Goodwill $ 55,255 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 cash-in-lieu Investment securities Loans The Company evaluated $390.9 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 Cash value of life insurance Accrued interest receivable Deferred tax asset Goodwill Core deposit intangible Deposits FHLB borrowed funds Accrued interest payable and other liabilities The Company’s operating results for the period ended December 31, 2015, 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 FBBI total assets acquired are less than 5% of total assets as of December 31, 2015 excluding FBBI 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 Pool of National Commercial Real Estate Loans On April 1, 2015, Centennial entered into an agreement with AM PR LLC, an affiliate of J.C. Flowers & Co. (collectively, the “Seller”) to purchase a pool of national commercial real estate loans totaling approximately $289.1 million for a purchase price of 99% of the total principal value of the acquired loans. The purchase of the loans was completed on April 1, 2015. The acquired loans were originated by the former Doral Bank of San Juan, Puerto Rico within its Doral Property Finance portfolio and were transferred to the Seller by Banco Popular of Puerto Rico (“Popular”) upon its acquisition of the assets and liabilities of Doral Bank from FDIC, as receiver for the failed Doral Bank. This pool of loans is now managed by a division of Centennial known as the Centennial Commercial Finance Group (“Centennial CFG”), which is responsible for servicing the acquired loan pool and originating new loan production. In connection with this acquisition of loans, the Company opened a loan production office on April 23, 2015 in New York City, which became a branch on September 1, 2016. Through this branch office, Centennial CFG is building out a national lending platform focusing on commercial real estate plus commercial and industrial loans. Acquisition of Doral Bank’s Florida Panhandle operations On February 27, 2015, Centennial acquired all the deposits and substantially all the assets of Doral Bank’s Florida Panhandle operations (“Doral Florida”) through an alliance agreement with Popular who was the successful lead bidder to acquire the assets and liabilities of the failed Doral Bank from the FDIC. Including the effects of the purchase accounting adjustments, the acquisition provided the Company with loans of approximately $37.9 million net of loan discounts, deposits of approximately $467.6 million, plus a $428.2 million cash settlement to balance the transaction. The FDIC in did not provide loss-sharing with respect to the acquired assets. Prior to the acquisition, Doral Florida operated five branch locations in Panama City, Panama City Beach and Pensacola, Florida plus a loan production office in Tallahassee, Florida. At the time of acquisition, Centennial operated 29 branch locations in the Florida Panhandle. As a result, the Company closed all five branch locations during the July 2015 systems conversion and returned the facilities back to the FDIC. The Company has determined that the acquisition of the net assets of Doral Florida constitutes a business combination as defined by the FASB ASC Topic 805, Business Combinations Fair Value Measurements Doral Bank’s Florida Panhandle Acquired from FDIC Fair Value As Recorded by HBI (Dollars in thousands) Assets Cash and due from banks $ 1,688 $ — $ 1,688 Loans receivable 42,244 (4,300 ) 37,944 Total loans receivable 42,244 (4,300 ) 37,944 Core deposit intangible — 1,363 1,363 Total assets acquired $ 43,932 $ (2,937 ) $ 40,995 Liabilities Deposits Demand and non-interest-bearing $ 3,130 $ — $ 3,130 Savings and interest-bearing transaction accounts 119,865 — 119,865 Time deposits 343,271 1,308 344,579 Total deposits 466,266 1,308 467,574 Total liabilities assumed $ 466,266 $ 1,308 467,574 Net assets acquired (liabilities assumed) (426,579 ) Cash settlement received (428,214 ) Pre-tax $ 1,635 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 Loans The Company evaluated $36.9 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 Core deposit intangible Deposits The Company’s operating results for the period ended December 31, 2015, 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 Doral Florida total assets acquired excluding the cash settlement received is less than 1% of total assets as of acquisition date, historical results are not believed to be material to the Company’s results, and thus no pro-forma |
Investment Securities
Investment Securities | 12 Months Ended |
Dec. 31, 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 December 31, 2017 Available-for-Sale Amortized Gross Gross Estimated (In thousands) U.S. government-sponsored enterprises $ 407,387 $ 899 $ (1,982 ) $ 406,304 Residential mortgage-backed securities 481,981 538 (4,919 ) 477,600 Commercial mortgage-backed securities 497,870 332 (4,430 ) 493,772 State and political subdivisions 247,292 3,783 (774 ) 250,301 Other securities 34,617 1,225 (302 ) 35,540 Total $ 1,669,147 $ 6,777 $ (12,407 ) $ 1,663,517 Held-to-Maturity Amortized Gross Gross Estimated (In thousands) U.S. government-sponsored enterprises $ 5,791 $ 15 $ (15 ) $ 5,791 Residential mortgage-backed securities 56,982 107 (402 ) 56,687 Commercial mortgage-backed securities 16,625 114 (40 ) 16,699 State and political subdivisions 145,358 3,031 (27 ) 148,362 Total $ 224,756 $ 3,267 $ (484 ) $ 227,539 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 an amortized cost of approximately $1.18 billion and $1.07 billion at December 31, 2017 and 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 $147.8 million and $121.3 million at December 31, 2017 and 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 $ 366,341 $ 365,526 $ 72,364 $ 74,079 Due after one year through five years 922,178 918,743 89,265 90,262 Due after five years through ten years 286,130 284,935 12,422 12,488 Due after ten years 94,498 94,313 50,705 50,710 Total $ 1,669,147 $ 1,663,517 $ 224,756 $ 227,539 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 year ended December 31, 2017, approximately $30.6 million in available-for-sale During the year ended December 31, 2016, approximately $87.2 million, in available-for-sale available-for-sale During the year ended December 31, 2015, approximately $4.0 million, in available-for-sale available-for-sale During 2015 and 2016, no held-to-maturity held-to-maturity held-to-maturity 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. For the year ended December 31, 2017, the Company had approximately $5.3 million in unrealized losses, which were 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, approximately 76.6% 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. For the year ended December 31, 2016, the Company had approximately $1.6 million in unrealized losses, which were 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, approximately 78.5% 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 December 31, 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 $ 234,213 $ (1,288 ) $ 40,122 $ (709 ) $ 274,335 $ (1,997 ) Residential mortgage-backed securities 389,541 (3,656 ) 99,989 (1,665 ) 489,530 (5,321 ) Commercial mortgage-backed securities 314,301 (2,343 ) 120,365 (2,127 ) 434,666 (4,470 ) State and political subdivisions 41,299 (331 ) 20,980 (470 ) 62,279 (801 ) Other securities — — 9,852 (302 ) 9,852 (302 ) Total $ 979,354 $ (7,618 ) $ 291,308 $ (5,273 ) $ 1,270,662 $ (12,891 ) 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 years ended is as follows: December 31, 2017 2016 2015 (In thousands) Taxable: Available-for-sale $ 24,231 $ 17,880 $ 17,881 Held-to-maturity 2,545 3,366 3,814 Tax-exempt: Available-for-sale 6,441 6,238 5,767 Held-to-maturity 5,526 5,179 5,427 Total $ 38,743 $ 32,663 $ 32,889 |
Loans Receivable
Loans Receivable | 12 Months Ended |
Dec. 31, 2017 | |
Receivables [Abstract] | |
Loans Receivable | 4. Loans Receivable The various categories of loans receivable are summarized as follows: December 31, 2017 2016 (In thousands) Real estate: Commercial real estate loans Non-farm/non-residential $ 4,600,117 $ 3,153,121 Construction/land development 1,700,491 1,135,843 Agricultural 82,229 77,736 Residential real estate loans Residential 1-4 1,970,311 1,356,136 Multifamily residential 441,303 340,926 Total real estate 8,794,451 6,063,762 Consumer 46,148 41,745 Commercial and industrial 1,297,397 1,123,213 Agricultural 49,815 74,673 Other 143,377 84,306 Loans receivable $ 10,331,188 $ 7,387,699 During the year ended December 31, 2017, the Company sold $12.9 million of the guaranteed portion of certain SBA loans, which resulted in a gain of approximately $738,000. During the year ended December 31, 2016, the Company sold $16.8 million of the guaranteed portion of certain SBA loans, which resulted in a gain of approximately $1.1 million. During the year ended December 31, 2015, the Company sold $7.7 million of the guaranteed portion of certain SBA loans, which resulted in a gain of approximately $541,000. Mortgage loans held for sale of approximately $44.3 million and $56.2 million at December 31, 2017 and 2016, respectively, are included in residential 1-4 The Company had $3.46 billion of purchased loans, which includes $146.6 million of discount for credit losses on purchased loans, at December 31, 2017. The Company had $51.9 million and $94.7 million remaining of non-accretable non-accretable |
Allowance for Loan Losses, Cred
Allowance for Loan Losses, Credit Quality and Other | 12 Months Ended |
Dec. 31, 2017 | |
Text Block [Abstract] | |
Allowance for Loan Losses, Credit Quality and Other | 5. Allowance for Loan Losses, Credit Quality and Other The Company’s 2017 allowance for loan loss was significantly impacted by Hurricane Irma which made initial landfall in the Florida Keys and a second landfall just south of Naples, Florida, as a Category 4 hurricane on September 10, 2017. Based on initial assessments of the potential credit impact and damage to the approximately $2.41 billion in legacy loans receivable we have in the disaster area, the Company established a $32.9 million storm-related provision for loan losses as of December 31, 2017. The $32.9 million of storm-related provision for loan losses was calculated by taking a 5.0% allocation on the loans in the Florida Key loans receivable balances, a 5.0% allocation on specific large loans located in the path of the hurricane on the mainland of Florida, and a 0.75% allocation on balances in the remaining counties within the FEMA-designated disaster areas. As of December 31, 2017, charge-offs of $2.2 million have been taken against the storm-related provision for loan losses. The following table presents a summary of changes in the allowance for loan losses: December 31, 2017 (In thousands) Allowance for loan losses: Beginning balance $ 80,002 Loans charged off (17,471 ) Recoveries of loans previously charged off 3,485 Net loans recovered (charged off) (13,986 ) Provision for loan losses 44,250 Balance, December 31, 2017 $ 110,266 The following tables present the balance in the allowance for loan losses for the year ended December 31, 2017, and the allowance for loan losses and recorded investment in loans based on portfolio segment by impairment method as of December 31, 2017. Allocation of a portion of the allowance to one type of loans does not preclude its availability to absorb losses in other categories. Year Ended December 31, 2017 Construction/ Land Other Commercial Residential Real Estate Commercial & Industrial Consumer & Other Unallocated Total Allowance for loan losses: (In thousands) Beginning balance $ 11,522 $ 28,188 $ 16,517 $ 12,756 $ 4,188 $ 6,831 $ 80,002 Loans charged off (1,632 ) (3,749 ) (3,980 ) (5,578 ) (2,532 ) — (17,471 ) Recoveries of loans previously charged off 462 1,042 676 464 841 — 3,485 Net loans recovered (charged off) (1,170 ) (2,707 ) (3,304 ) (5,114 ) (1,691 ) — (13,986 ) Provision for loan losses 9,991 18,458 11,293 7,650 837 (3,979 ) 44,250 Balance, December 31 $ 20,343 $ 43,939 $ 24,506 $ 15,292 $ 3,334 $ 2,852 $ 110,266 As of December 31, 2017 Construction/ Land Other Commercial Residential Real Estate Commercial & Industrial Consumer & Other Unallocated Total Allowance for loan losses: (In thousands) Period end amount allocated to: Loans individually evaluated for impairment $ 1,378 $ 768 $ 188 $ 843 $ 7 $ — $ 3,184 Loans collectively evaluated for impairment 18,954 42,824 23,341 14,290 3,310 2,852 105,571 Loans evaluated for impairment balance, December 31 20,332 43,592 23,529 15,133 3,317 2,852 108,755 Purchased credit impaired loans 11 347 977 159 17 — 1,511 Balance, December 31 $ 20,343 $ 43,939 $ 24,506 $ 15,292 $ 3,334 $ 2,852 $ 110,266 Loans receivable: Period end amount allocated to: Loans individually evaluated for impairment $ 26,860 $ 124,124 $ 20,431 $ 21,867 $ 500 $ — $ 193,782 Loans collectively evaluated for impairment 1,658,519 4,442,201 2,341,081 1,261,161 236,392 — 9,939,354 Loans evaluated for impairment balance, December 31 1,685,379 4,566,325 2,361,512 1,283,028 236,892 — 10,133,136 Purchased credit impaired loans 15,112 116,021 50,102 14,369 2,448 — 198,052 Balance, December 31 $ 1,700,491 $ 4,682,346 $ 2,411,614 $ 1,297,397 $ 239,340 $ — $ 10,331,188 The following tables present the balance in the allowance for loan losses for the loan portfolio for the year ended December 31, 2016, and the allowance for loan losses and recorded investment in loans based on portfolio segment by impairment method as of December 31, 2016. Allocation of a portion of the allowance to one type of loans does not preclude its availability to absorb losses in other categories. Year Ended December 31, 2016 Construction/ Land Other Commercial Residential Real Estate Commercial & Industrial Consumer & Other Unallocated Total Allowance for loan losses: (In thousands) Beginning balance $ 10,782 $ 26,798 $ 14,818 $ 9,324 $ 5,016 $ 2,486 $ 69,224 Loans charged off (382 ) (3,586 ) (5,597 ) (5,778 ) (2,158 ) — (17,501 ) Recoveries of loans previously charged off 1,125 857 1,152 5,533 1,004 — 9,671 Net loans recovered (charged off) 743 (2,729 ) (4,445 ) (245 ) (1,154 ) — (7,830 ) Provision for loan losses (3 ) 4,119 6,144 3,677 326 4,345 18,608 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 Allowance for loan losses: (In thousands) 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 tables present the balance in the allowance for loan losses for the loan portfolio for the year ended December 31, 2015, and the allowance for loan losses and recorded investment in loans based on portfolio segment by impairment method as of December 31, 2015. Allocation of a portion of the allowance to one type of loans does not preclude its availability to absorb losses in other categories. Year Ended December 31, 2015 Construction/ Land Other Commercial Residential Real Estate Commercial & Consumer & Other Unallocated Total Allowance for loan losses: (In thousands) Beginning balance $ 8,548 $ 18,157 $ 14,607 $ 5,966 $ 5,799 $ 1,934 $ 55,011 Loans charged off (644 ) (4,878 ) (4,717 ) (2,638 ) (3,075 ) — (15,952 ) Recoveries of loans previously charged off 236 762 915 802 827 — 3,542 Net loans recovered (charged off) (408 ) (4,116 ) (3,802 ) (1,836 ) (2,248 ) — (12,410 ) Provision for loan losses 2,273 11,862 3,818 5,204 1,455 552 25,164 Increase in FDIC indemnification asset 369 895 195 (10 ) 10 — 1,459 Balance, December 31 $ 10,782 $ 26,798 $ 14,818 $ 9,324 $ 5,016 $ 2,486 $ 69,224 As of December 31, 2015 Construction/ Land Other Commercial Residential Real Estate Commercial & Consumer & Other Unallocated Total Allowance for loan losses: (In thousands) Period end amount allocated to: Loans individually evaluated for impairment $ 1,149 $ 2,115 $ 186 $ 921 $ — $ — $ 4,371 Loans collectively evaluated for impairment 9,506 24,511 12,157 8,383 5,006 2,486 62,049 Loans evaluated for impairment balance, December 31 10,655 26,626 12,343 9,304 5,006 2,486 66,420 Purchased credit impaired loans 127 172 2,475 20 10 — 2,804 Balance, December 31 $ 10,782 $ 26,798 $ 14,818 $ 9,324 $ 5,016 $ 2,486 $ 69,224 Loans receivable: Period end amount allocated to: Loans individually evaluated for impairment $ 21,215 $ 55,858 $ 18,240 $ 6,290 $ 1,053 $ — $ 102,656 Loans collectively evaluated for impairment 901,147 2,887,880 1,490,866 825,640 179,391 — 6,284,924 Loans evaluated for impairment balance, December 31 922,362 2,943,738 1,509,106 831,930 180,444 — 6,387,580 Purchased credit impaired loans 22,425 99,624 111,429 18,657 1,856 — 253,991 Balance, December 31 $ 944,787 $ 3,043,362 $ 1,620,535 $ 850,587 $ 182,300 $ — $ 6,641,571 The following is an aging analysis for loans receivable for the years ended December 31, 2017 and 2016: December 31, 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 Real estate: (In thousands) Commercial real estate loans Non-farm/non-residential $ 6,331 $ 1,480 $ 12,719 $ 20,530 $ 4,579,587 $ 4,600,117 $ 3,119 Construction/land development 834 13 8,258 9,105 1,691,386 1,700,491 3,247 Agricultural — 221 19 240 81,989 82,229 — Residential real estate loans Residential 1-4 9,066 2,013 16,612 27,691 1,942,620 1,970,311 2,175 Multifamily residential — — 253 253 441,050 441,303 100 Total real estate 16,231 3,727 37,861 57,819 8,736,632 8,794,451 8,641 Consumer 252 51 171 474 45,674 46,148 26 Commercial and industrial 2,073 1,030 6,528 9,631 1,287,766 1,297,397 1,944 Agricultural and other 288 113 137 538 192,654 193,192 54 Total $ 18,844 $ 4,921 $ 44,697 $ 68,462 $ 10,262,726 $ 10,331,188 $ 10,665 December 31, 2016 Loans Past Due 30-59 Loans Past Due 60-89 Loans Past Due 90 Days or More Total Past Due Current Loans Total Loans Receivable Accruing Loans Past Due 90 Days or More Real estate: (In thousands) 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 December 31, 2017, 2016 and 2015: December 31, 2017 Unpaid Total Allocation of Allowance Year Ended Average Interest Recognized Loans without a specific valuation allowance (In thousands) Real estate: Commercial real estate loans Non-farm/non-residential $ 29 $ 29 $ — $ 23 $ 2 Construction/land development 64 64 — 31 3 Agricultural 19 — — — 1 Residential real estate loans Residential 1-4 115 115 — 135 7 Multifamily residential — — — — — Total real estate 227 208 — 189 13 Consumer 18 — — — 1 Commercial and industrial 105 105 — 85 7 Agricultural and other — — — — — Total loans without a specific valuation allowance 350 313 — 274 21 Loans with a specific valuation allowance Real estate: Commercial real estate loans Non-farm/non-residential 29,666 29,040 757 41,772 1,498 Construction/land development 12,976 12,157 1,378 10,556 262 Agricultural 281 303 11 268 11 Residential real estate loans Residential 1-4 19,770 18,689 124 22,347 363 Multifamily residential 1,627 1,627 64 1,412 81 Total real estate 64,320 61,816 2,334 76,355 2,215 Consumer 179 191 — 163 — Commercial and industrial 16,777 13,007 843 9,726 121 Agricultural and other 297 309 7 644 8 Total loans with a specific valuation allowance 81,573 75,323 3,184 86,888 2,344 Total impaired loans Real estate: Commercial real estate loans Non-farm/non-residential 29,695 29,069 757 41,795 1,500 Construction/land development 13,040 12,221 1,378 10,587 265 Agricultural 300 303 11 268 12 Residential real estate loans Residential 1-4 19,885 18,804 124 22,482 370 Multifamily residential 1,627 1,627 64 1,412 81 Total real estate 64,547 62,024 2,334 76,544 2,228 Consumer 197 191 — 163 1 Commercial and industrial 16,882 13,112 843 9,811 128 Agricultural and other 297 309 7 644 8 Total impaired loans $ 81,923 $ 75,636 $ 3,184 $ 87,162 $ 2,365 Note 310-30. December 31, 2016 Unpaid Total Allocation of Allowance Year Ended Average Interest Recognized Loans without a specific valuation allowance (In thousands) 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. December 31, 2015 Unpaid Total Allocation of Allowance Year Ended Average Interest Recognized Loans without a specific valuation allowance (In thousands) Real estate: Commercial real estate loans Non-farm/non-residential $ 29 $ 29 $ — $ 6 $ 2 Construction/land development — — — — — Agricultural — — — — — Residential real estate loans Residential 1-4 80 80 — 21 6 Multifamily residential — — — — — Total real estate 109 109 — 27 8 Consumer — — — — — Commercial and industrial 12 12 — 2 1 Agricultural and other — — — — — Total loans without a specific valuation allowance 121 121 — 29 8 Loans with a specific valuation allowance Real estate: Commercial real estate loans Non-farm/non-residential 47,861 44,872 2,115 43,900 1,139 Construction/land development 17,025 15,077 1,149 16,026 303 Agricultural 583 561 — 153 — Residential real estate loans Residential 1-4 18,454 17,373 168 16,947 390 Multifamily residential 1,160 1,160 18 3,281 34 Total real estate 85,083 79,043 3,450 80,307 1,866 Consumer 306 286 — 570 7 Commercial and industrial 13,385 11,169 921 6,542 191 Agricultural and other 1,034 1,034 — 614 4 Total loans with a specific valuation allowance 99,808 91,532 4,371 88,033 2,069 Total impaired loans Real estate: Commercial real estate loans Non-farm/non-residential 47,890 44,887 2,115 43,906 1,141 Construction/land development 17,025 15,077 1,149 16,026 303 Agricultural 583 561 — 153 — Residential real estate loans Residential 1-4 18,534 17,413 168 16,968 396 Multifamily residential 1,160 1,160 18 3,281 34 Total real estate 85,192 79,098 3,450 80,334 1,874 Consumer 306 286 — 570 7 Commercial and industrial 13,397 11,175 921 6,544 192 Agricultural and other 1,034 1,034 — 614 4 Total impaired loans $ 99,929 $ 91,593 $ 4,371 $ 88,062 $ 2,077 Note 310-30. Interest recognized on impaired loans during the years ended December 31, 2017, 2016 and 2015 was approximately $2.4 million, $2.3 million and $2.1 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) December 31, 2017 Risk Rated 6 Risk Rated 7 Risk Rated 8 Classified Total Real estate: (In thousands) Commercial real estate loans Non-farm/non-residential $ 20,933 $ 518 $ — $ 21,451 Construction/land development 24,013 204 — 24,217 Agricultural 321 — — 321 Residential real estate loans Residential 1-4 23,420 564 — 23,984 Multifamily residential 939 — — 939 Total real estate 69,626 1,286 — 70,912 Consumer 159 9 — 168 Commercial and industrial 12,818 80 — 12,898 Agricultural and other 136 — — 136 Total $ 82,739 $ 1,375 $ — $ 84,114 December 31, 2016 Risk Rated 6 Risk Rated 7 Risk Rated 8 Classified Total Real estate: (In thousands) 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 $ 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 December 31, 2017 and 2016: December 31, 2017 Risk Rated 1 Risk Rated 2 Risk Rated 3 Risk Rated 4 Risk Rated 5 Classified Total Total Real estate: (In thousands) Commercial real estate loans Non-farm/non-residential $ 1,015 $ 558 $ 2,595,844 $ 1,745,778 $ 119,656 $ 21,451 $ 4,484,302 Construction/land development 28 583 280,980 1,373,133 6,438 24,217 1,685,379 Agricultural — 19 53,018 27,515 1,150 321 82,023 Residential real estate loans Residential 1-4 1,140 969 1,414,849 475,619 11,658 23,984 1,928,219 Multifamily residential — — 329,070 103,071 213 939 433,293 Total real estate 2,183 2,129 4,673,761 3,725,116 139,115 70,912 8,613,216 Consumer 13,106 808 22,479 8,532 70 168 45,163 Commercial and industrial 20,870 7,543 627,316 592,088 22,313 12,898 1,283,028 Agricultural and other 1,986 3,914 147,323 38,370 — 136 191,729 Total risk rated loans $ 38,145 $ 14,394 $ 5,470,879 $ 4,364,106 $ 161,498 $ 84,114 10,133,136 Purchased credit impaired loans 198,052 Total loans receivable $ 10,331,188 December 31, 2016 Risk Rated 1 Risk Rated 2 Risk Rated 3 Risk Rated 4 Risk Rated 5 Classified Total Total Real estate: (In thousands) 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 December 31, 2017, 2016 and 2015: December 31, 2017 Number of Loans Pre- Modification Rate Modification Term Modification Rate & Term Modification Post- Real estate: (Dollars in thousands) Commercial real estate loans Non-farm/non-residential 16 $ 16,853 $ 8,815 $ 250 $ 5,513 $ 14,578 Construction/land development 5 782 689 75 — 764 Agricultural 2 345 282 22 — 304 Residential real estate loans Residential 1-4 21 5,607 1,926 81 1,238 3,245 Multifamily residential 3 1,701 1,340 — 287 1,627 Total real estate 47 25,288 13,052 428 7,038 20,518 Consumer 3 19 — 18 — 18 Commercial and industrial 11 951 445 50 1 496 Agricultural and other 1 166 166 — — 166 Total 62 $ 26,424 $ 13,663 $ 496 $ 7,039 $ 21,198 December 31, 2016 Number of Loans Pre- Modification Rate Modification Term Modification Rate & Term Modification Post- Real estate: (Dollars in thousands) 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 December 31, 2015 Number of Loans Pre- Modification Rate Modification Term Modification Rate & Term Modification Post- Real estate: (Dollars in thousands) Commercial real estate loans Non-farm/non-residential 13 $ 14,422 $ 9,189 $ 273 $ 4,626 $ 14,088 Construction/land development 2 1,026 1,018 — — 1,018 Residential real estate loans Residential 1-4 8 2,813 811 1,925 — 2,736 Multifamily residential 1 295 — — 290 290 Total real estate 24 18,556 11,018 2,198 4,916 18,132 Commercial and industrial 2 69 — 69 — 69 Total 26 $ 18,625 $ 11,018 $ 2,267 $ 4,916 $ 18,201 The following is a presentation of TDRs on non-accrual December 31, 2017 December 31, 2016 December 31, 2015 Number of Loans Recorded Balance Number of Loans Recorded Balance Number of Loans Recorded Balance Real estate: (Dollars in thousands) Commercial real estate loans Non-farm/non-residential 2 $ 1,161 2 $ 696 3 $ 1,604 Agricultural 1 22 2 123 — — Residential real estate loans Residential 1-4 8 850 13 2,240 2 1,812 Multifamily residential 1 153 — — — — Total real estate 12 2,186 17 3,059 5 3,416 Commercial and industrial 1 — — — — — Total 13 $ 2,186 17 $ 3,059 5 $ 3,416 The following is a presentation of total foreclosed assets as of December 31, 2017 and 2016: December 31, 2017 December 31, 2016 (In thousands) Commercial real estate loans Non-farm/non-residential $ 9,766 $ 9,423 Construction/land development 5,920 4,009 Agricultural — — Residential real estate loans Residential 1-4 2,654 2,076 Multifamily residential 527 443 Total foreclosed assets held for sale $ 18,867 $ 15,951 The following is a summary of the purchased credit impaired loans acquired in the GHI, BOC and Stonegate acquisitions during 2017 as of the dates of acquisition: GHI BOC Stonegate Contractually required principal and interest at acquisition $ 22,379 $ 18,586 $ 98,444 Non-accretable 4,462 2,811 23,297 Cash flows expected to be collected at acquisition 17,917 15,775 75,147 Accretable yield 2,071 1,043 11,761 Basis in purchased credit impaired loans at acquisition $ 15,846 $ 14,732 $ 63,386 Changes in the carrying amount of the accretable yield for purchased credit impaired loans were as follows for the year ended December 31, 2017 for the Company’s acquisitions: Accretable Yield Carrying (In thousands) Balance at beginning of period $ 38,212 $ 159,564 Reforecasted future interest payments for loan pools 5,586 — Accretion recorded to interest income (19,886 ) 19,886 Acquisitions 14,875 93,964 Adjustment to yield 3,016 — Transfers to foreclosed assets held for sale — (13,957 ) Payments received, net — (61,405 ) Balance at end of period $ 41,803 $ 198,052 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 $3.0 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 | 12 Months Ended |
Dec. 31, 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 December 31, 2017 and 2016, were as follows: December 31, 2017 December 31, 2016 Goodwill (In thousands) Balance, beginning of period $ 377,983 $ 377,983 Acquisitions 549,966 — Balance, end of period $ 927,949 $ 377,983 December 31, 2017 December 31, 2016 Core Deposit and Other Intangibles (In thousands) Balance, beginning of period $ 18,311 $ 21,443 Acquisitions 35,247 — Amortization expense (4,207 ) (3,132 ) Balance, end of year $ 49,351 $ 18,311 The carrying basis and accumulated amortization of core deposits and other intangibles at December 31, 2017 and 2016 were: December 31, 2017 December 31, 2016 (In thousands) Gross carrying amount $ 86,625 $ 51,378 Accumulated amortization (37,274 ) (33,067 ) Net carrying amount $ 49,351 $ 18,311 Core deposit and other intangible amortization expense for the years ended December 31, 2017, 2016 and 2015 was approximately $4.2 million, $3.1 million and $4.1 million, respectively. Core deposit and other intangibles are tested annually for impairment during the fourth quarter. During the 2017 review, no impairment was found. Including all of the mergers completed as of December 31, 2017, HBI’s estimated amortization expense of core deposits and other intangibles for each of the years 2018 through 2022 is approximately: 2018 – $6.6 million; 2019 – $6.5 million; 2020 – $5.9 million; 2021 – $5.7 million; 2022 – $5.7 million. The carrying amount of the Company’s goodwill was $927.9 million and $378.0 million at December 31, 2017 and 2016, respectively. Goodwill is tested annually for impairment during the fourth quarter. During the 2017 review, no impairment was found. 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 | 12 Months Ended |
Dec. 31, 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 December 31, 2017 and 2016 other assets were $177.8 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 | 12 Months Ended |
Dec. 31, 2017 | |
Banking and Thrift [Abstract] | |
Deposits | 8. Deposits The aggregate amount of time deposits with a minimum denomination of $250,000 was $636.9 million and $569.1 million at December 31, 2017 and 2016, respectively. The aggregate amount of time deposits with a minimum denomination of $100,000 was $998.3 million and $842.9 million at December 31, 2017 and 2016, respectively. Interest expense applicable to certificates in excess of $100,000 totaled $8.3 million, $4.4 million and $5.0 million for the years ended December 31, 2017, 2016 and 2015, respectively. As of December 31, 2017 and 2016, brokered deposits were $1.03 billion and $502.5 million, respectively. The following is a summary of the scheduled maturities of all time deposits at December 31, 2017 (in thousands): One month or less $ 176,900 Over 1 month to 3 months 194,764 Over 3 months to 6 months 339,928 Over 6 months to 12 months 355,144 Over 12 months to 2 years 337,453 Over 2 years to 3 years 63,217 Over 3 years to 5 years 57,046 Over 5 years 1,979 Total time deposits $ 1,526,431 Deposits totaling approximately $1.51 billion and $1.23 billion at December 31, 2017 and 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 | 12 Months Ended |
Dec. 31, 2017 | |
Brokers and Dealers [Abstract] | |
Securities Sold Under Agreements to Repurchase | 9. Securities Sold Under Agreements to Repurchase At December 31, 2017 and 2016, securities sold under agreements to repurchase totaled $147.8 million and $121.3 million, respectively. For the years ended December 31, 2017 and 2016, securities sold under agreements to repurchase daily weighted-average totaled $134.7 million and $120.6 million, respectively. The gross amount of recognized liabilities for securities sold under agreements to repurchase was $147.8 million and $121.3 million at December 31, 2017 and 2016, respectively. The remaining contractual maturity of securities sold under agreements to repurchase in the consolidated balance sheets as of December 31, 2017 and 2016 is presented in the following tables: December 31, 2017 Overnight and Up to 30 30-90 Days Greater than Total (In thousands) Securities sold under agreements to repurchase: U.S. government-sponsored enterprises $ 11,525 $ — $ — $ 10,000 $ 21,525 Mortgage-backed securities 21,255 — — — 21,255 State and political subdivisions 85,428 — — — 85,428 Other securities 19,581 — — — 19,581 Total borrowings $ 137,789 $ — $ — $ 10,000 $ 147,789 December 31, 2016 Overnight and Up to 30 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 | 12 Months Ended |
Dec. 31, 2017 | |
Banking and Thrift [Abstract] | |
FHLB Borrowed Funds | 10. FHLB Borrowed Funds The Company’s FHLB borrowed funds, which are secured by our loan portfolio, were $1.30 billion and $1.31 billion at December 31, 2017 and 2016, respectively. At December 31, 2017, $525.0 million and $774.2 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 0.636% to 5.96% and are secured by loans and investments securities. 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 $695.3 million and $516.2 million at December 31, 2017 and 2016, respectively, in letters of credit under a FHLB blanket borrowing line of credit, which are used to collateralize public deposits at December 31, 2017 and 2016, respectively. Maturities of borrowings with original maturities exceeding one year at December 31, 2017, are as follows (in thousands): By By Call Date 2018 $ 984,279 $ 984,279 2019 143,070 143,070 2020 146,428 146,428 2021 — — 2022 — — Thereafter 25,411 25,411 $ 1,299,188 $ 1,299,188 |
Other Borrowings
Other Borrowings | 12 Months Ended |
Dec. 31, 2017 | |
Debt Disclosure [Abstract] | |
Other Borrowings | 11. Other Borrowings The Company had zero other borrowings at December 31, 2017 and 2016. Additionally, the Company took out a $20.0 million line of credit for general corporate purposes during 2015. The balance on this line of credit at December 31, 2017 and 2016 was zero. |
Subordinated Debentures
Subordinated Debentures | 12 Months Ended |
Dec. 31, 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 December 31, 2017 and 2016, subordinated debentures were $368.0 million and $60.8 million, respectively. Subordinated debentures at December 31, 2017 and 2016 contained the following components: As of December 31, As of 2017 2016 (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 debentures, issued in 2005, due 2035, floating rate of 2.15% above the three-month LIBOR rate, reset quarterly, currently callable without penalty 4,304 — Subordinated debentures, issued in 2006, due 2036, fixed rate of 7.38% during the first five years and at a floating rate of 1.62% above the three-month LIBOR rate, reset quarterly, thereafter, currently callable without penalty 5,569 — 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 297,332 — Total $ 368,031 $ 60,826 Trust Preferred Securities tax-advantaged The Bank acquired $12.5 million in trust preferred securities with a fair value of $9.8 million from the Stonegate acquisition. The difference between the fair value purchased of $9.8 million and the $12.5 million face amount, will be amortized into interest expense over the remaining life of the debentures. The associated subordinated debentures are redeemable, in whole or in part, prior to maturity at our option on a quarterly basis when interest is due and payable and in whole at any time within 90 days following the occurrence and continuation of certain changes in the tax treatment or capital treatment of the debentures. 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 | 12 Months Ended |
Dec. 31, 2017 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | 13. Income Taxes On December 22, 2017, the Tax Cuts and Jobs Act (“TCJA”) was signed into law. The TCJA makes broad and complex changes to the U.S. tax code that affected our income tax rate in 2017. The TCJA reduces the U.S. federal corporate income tax rate from 35% to 21%. The TCJA also establishes new tax laws that will affect 2018. ASC 740 requires a company to record the effects of a tax law change in the period of enactment, however, shortly after the enactment of the TCJA, the SEC staff issued SAB 118, which allows a company to record a provisional amount when it does not have the necessary information available, prepared, or analyzed in reasonable detail to complete its accounting for the change in the tax law. The measurement period ends when the company has obtained, prepared and analyzed the information necessary to finalize its accounting, but cannot extend beyond one year. The following is a summary of the components of the provision (benefit) for income taxes for the years ended December 31, 2017, 2016 and 2015: Year Ended December 31, 2017 2016 2015 (In thousands) Current: Federal $ 76,569 $ 77,418 $ 61,007 State 25,347 15,377 12,117 Total current 101,916 92,795 73,124 Deferred: Federal 25,607 10,600 5,980 State 8,477 2,105 1,188 Total deferred 34,084 12,705 7,168 Income tax expense $ 136,000 $ 105,500 $ 80,292 The reconciliation between the statutory federal income tax rate and effective income tax rate is as follows for the years ended December 31, 2017, 2016 and 2015: Year Ended December 31, 2017 2016 2015 Statutory federal income tax rate 35.00 % 35.00 % 35.00 % Effect of non-taxable (1.57 ) (1.52 ) (1.91 ) Effect of gain on acquisitions (0.49 ) — (0.26 ) Stock compensation (0.67 ) — — State income taxes, net of federal benefit 4.05 4.08 4.02 Effect of tax rate change 13.62 — — Other 0.23 (0.23 ) (0.10 ) Effective income tax rate 50.17 % 37.33 % 36.75 % As of December 31, 2017, the Company performed an analysis to determine the impact of the revaluation of the deferred tax asset of approximately $113.5 million. The impact as of December 31, 2017 of this was a one-time non-cash 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: December 31, 2017 December 31, 2016 (In thousands) Deferred tax assets: Allowance for loan losses $ 29,515 $ 31,381 Deferred compensation 1,142 3,925 Stock compensation 2,731 669 Real estate owned 1,731 2,296 Unrealized loss on securities available-for-sale 1,471 — Loan discounts 32,784 9,157 Tax basis premium/discount on acquisitions 8,802 14,757 Investments 1,155 1,957 Other 11,663 8,361 Gross deferred tax assets 90,994 72,503 Deferred tax liabilities: Accelerated depreciation on premises and equipment 291 2,154 Unrealized gain on securities available-for-sale — 258 Core deposit intangibles 11,258 4,950 FHLB dividends 1,625 1,926 Other 1,256 1,917 Gross deferred tax liabilities 14,430 11,205 Net deferred tax assets $ 76,564 $ 61,298 The Company and its subsidiaries file income tax returns in the U.S. federal jurisdiction and the states of Arkansas, Alabama, Florida, New York and California. The Company is no longer subject to U.S. federal and state tax examinations by tax authorities for years before 2013. The Company recognizes interest accrued related to unrecognized tax benefits and penalties in income tax expense. During the years ended December 31, 2017, 2016 and 2015, the Company did not recognize any significant interest or penalties. The Company did not have any interest or penalties accrued at December 31, 2017, 2016 and 2015. |
Common Stock, Compensation Plan
Common Stock, Compensation Plans and Other | 12 Months Ended |
Dec. 31, 2017 | |
Equity [Abstract] | |
Common Stock, Compensation Plans and Other | 14. Common Stock, Compensation Plans and Other Common Stock The Company’s Restated Articles of Incorporation, as amended, authorize the issuance of up to 200,000,000 shares of common stock, par value $0.01 per share. 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 2017, the Company utilized a portion of this stock repurchase program. During 2017, the Company repurchased a total of 857,800 shares with a weighted-average stock price of $24.29 per share. The 2017 earnings were used to fund the repurchases during the year. Shares repurchased under the program as of December 31, 2017 total 4,524,864 shares. The remaining balance available for repurchase is 5,227,136 shares at December 31, 2017. Additionally, on February 21, 2018, the Board of Directors of the Company authorized the repurchase of up to an additional 5,000,000 shares of Company’s common stock under this repurchase program. 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. The Plan provides for the granting of incentive and non-qualified The intrinsic value of the stock options outstanding at December 31, 2017, 2016, and 2015 was $16.2 million, $30.2 million and $21.1 million, respectively. The intrinsic value of the stock options vested at December 31, 2017, 2016 and 2015 was $9.9 million, $12.1 million and $14.5 million, respectively. The intrinsic value of the stock options exercised during 2017, 2016 and 2015 was $3.7 million, $8.0 million, and $7.2 million, respectively. Total unrecognized compensation cost, net of income tax benefit, related to non-vested The table below summarized the stock option transactions under the Plan at December 31, 2017, 2016 and 2015 and changes during the years then ended: 2017 2016 2015 Shares Weighted- Shares Weighted- Shares Weighted- Outstanding, beginning of year 2,397 $ 15.19 2,794 $ 12.71 1,810 $ 5.90 Granted 80 25.96 140 21.25 1,486 18.15 Forfeited/Expired — — (14 ) 17.28 (40 ) 20.16 Exercised (203 ) 7.82 (523 ) 3.50 (462 ) 2.90 Outstanding, end of year 2,274 16.23 2,397 15.19 2,794 12.71 Exercisable, end of year 1,016 $ 13.55 639 $ 8.88 960 $ 5.13 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 year ended December 31, 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. 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. The assumptions used in determining the fair value of 2017, 2016 and 2015 stock option grants were as follows: For the Years Ended December 31, 2017 2016 2015 Expected dividend yield 1.39 % 1.65 % 1.60 % Expected stock price volatility 28.47 % 26.66 % 25.91 % Risk-free interest rate 2.06 % 1.65 % 1.74 % Expected life of options 6.5 years 6.5 years 6.5 years The following is a summary of currently outstanding and exercisable options at December 31, 2017: Options Outstanding Options Exercisable Exercise Prices Options (000) Weighted- Weighted- Options Weighted- $ 2.10 to $ 2.66 17 1.34 $ 2.58 17 $ 2.58 $ 4.27 to $ 4.30 81 0.04 4.27 81 4.27 $ 5.68 to $ 6.56 102 3.56 6.43 102 6.43 $ 8.62 to $ 9.54 279 5.17 9.08 219 9.07 $14.71 to $16.86 262 6.75 16.00 124 16.12 $17.12 to $17.40 203 6.91 17.19 93 17.25 $18.46 to $18.46 1,050 7.65 18.46 329 18.46 $20.16 to $20.58 80 7.76 20.37 27 20.34 $21.25 to $21.25 120 8.31 21.25 24 21.25 $25.96 to $25.96 80 9.30 25.96 — — 2,274 1,016 The table below summarizes the activity for the Company’s restricted stock issued and outstanding at December 31, 2017, 2016 and 2015 and changes during the years then ended: 2017 2016 2015 (In thousands) Beginning of year 958 975 514 Issued 232 244 704 Vested (45 ) (256 ) (204 ) Forfeited — (5 ) (39 ) End of year 1,145 958 975 Amount of expense for twelve months ended $ 5,237 $ 4,049 $ 2,511 Total unrecognized compensation cost, net of income tax benefit, related to non-vested |
Non-InterestExpense
Non-InterestExpense | 12 Months Ended |
Dec. 31, 2017 | |
Text Block [Abstract] | |
Non-InterestExpense | 15. Non-Interest The table below shows the components of non-interest 2017 2016 2015 (In thousands) Salaries and employee benefits $ 119,369 $ 101,962 $ 87,512 Occupancy and equipment 30,611 26,129 25,967 Data processing expense 11,998 10,499 10,774 Other operating expenses: Advertising 3,203 3,332 2,986 Merger and acquisition expenses 25,743 433 4,800 FDIC loss share buy-out — 3,849 — Amortization of intangibles 4,207 3,132 4,079 Electronic banking expense 6,662 5,742 5,166 Directors’ fees 1,259 1,150 1,071 Due from bank service charges 1,602 1,354 1,096 FDIC and state assessment 5,239 5,491 5,287 Insurance 2,512 2,193 2,542 Legal and accounting 2,993 2,206 2,028 Other professional fees 5,359 4,049 3,226 Operating supplies 1,978 1,758 1,880 Postage 1,184 1,084 1,196 Telephone 1,374 1,751 1,917 Other expense 14,915 15,641 16,028 Total other operating expenses 78,230 53,165 53,302 Total non-interest $ 240,208 $ 191,755 $ 177,555 |
Employee Benefit Plans
Employee Benefit Plans | 12 Months Ended |
Dec. 31, 2017 | |
Retirement Benefits [Abstract] | |
Employee Benefit Plans | 16. Employee Benefit Plans 401(k) Plan The Company has a retirement savings 401(k) plan in which substantially all employees may participate. The Company matches employees’ contributions based on a percentage of salary contributed by participants. While the plan also allows for discretionary employer contributions, no discretionary contributions were made for the years ended 2017, 2016 and 2015. The Company’s expense for the plan was approximately $1.6 million, $1.4 million and $1.2 million in 2017, 2016 and 2015, respectively, which is included in salaries and employee benefits expense. Chairman’s Retirement Plan On April 20, 2007, the Company’s Board of Directors approved a Chairman’s Retirement Plan for John W. Allison, the Company’s Chairman. The Chairman’s Retirement Plan provides a supplemental retirement benefit of $250,000 a year for 10 consecutive years or until Mr. Allison’s death, whichever occurs later. During 2011, Mr. Allison reached the age of 65 and became 100% vested in the plan. Therefore, he began receiving the supplemental retirement benefit due to him. He received $250,000 of this benefit during 2017, 2016 and 2015, respectively. An expense of approximately $148,000, $155,000 and $163,000 was accrued for 2017, 2016 and 2015 for this plan, respectively. |
Related Party Transactions
Related Party Transactions | 12 Months Ended |
Dec. 31, 2017 | |
Related Party Transactions [Abstract] | |
Related Party Transactions | 17. Related Party Transactions In the ordinary course of business, loans may be made to officers and directors and their affiliated companies at substantially the same terms as comparable transactions with other borrowers. At December 31, 2017 and 2016, related party loans were approximately $57.1 million and $51.6 million, respectively. New loans and advances on prior commitments made to the related parties were $12.0 million and $5.0 million for the years ended December 31, 2017 and 2016, respectively. Repayments of loans made by the related parties were $6.0 million and $4.7 million for the years ended December 31, 2017 and 2016, respectively. At December 31, 2017 and 2016, directors, officers, and other related interest parties had demand, non-interest-bearing During each of 2017, 2016 and 2015, rent expense totaling approximately $100,000 was paid to related parties. In September 2017, the Company purchased a used airplane that was formerly owned by Capital Buyers, a company owned by the Company’s Chairman, John W. Allison, for a cash purchase price of $3.3 million. The purchase price paid by the Company was determined based on an independent third party appraisal. In May 2017, the Company sold its 50% interest in the previous airplane to the unaffiliated third party with whom the Company co-owned |
Leases
Leases | 12 Months Ended |
Dec. 31, 2017 | |
Leases [Abstract] | |
Leases | 18. Leases The Company leases certain premises and equipment under noncancelable operating leases with terms up to 21 years which are charged to expense over the lease term as it becomes payable. The Company’s leases do not have rent holidays. In addition, any rent escalations are tied to the consumer price index or contain nominal increases and are not included in the calculation of current lease expense due to the immaterial amount. At December 31, 2017, the minimum rental commitments under these noncancelable operating leases are as follows (in thousands): 2018 $ 8,543 2019 7,811 2020 7,167 2021 5,685 2022 4,182 Thereafter 28,799 $ 62,187 |
Significant Estimates and Conce
Significant Estimates and Concentrations of Credit Risks | 12 Months Ended |
Dec. 31, 2017 | |
Text Block [Abstract] | |
Significant Estimates and Concentrations of Credit Risks | 19. 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 December 31, 2017 and 2016, commercial real estate loans represented 61.8% and 59.1% of total loans receivable, respectively, and 289.6% and 328.9% of total stockholders’ equity, respectively. Residential real estate loans represented 23.3% and 23.0% of total loans receivable and 109.4% and 127.8% of total stockholders’ equity at December 31, 2017 and 2016, respectively. Approximately 90.4% of the Company’s total loans and 90.8% of the Company’s real estate loans as of December 31, 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 | 12 Months Ended |
Dec. 31, 2017 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | 20. 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 December 31, 2017 and 2016, commitments to extend credit of $2.38 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. |
Financial Instruments
Financial Instruments | 12 Months Ended |
Dec. 31, 2017 | |
Fair Value Disclosures [Abstract] | |
Financial Instruments | 21. 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. Starting in 2016, the Company began using a third party comparison pricing vendor in order to reflect consistency in the fair values of the investment securities sampled by the Company each quarter. Impaired loans that are collateral dependent are the only material financial assets valued on a non-recurring 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 $1.2 million were remeasured during year ended December 31, 2017, resulting in a write-down of approximately $636,000. Regulatory guidelines require the Company 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. December 31, 2017 Carrying Amount Fair Value Level (In thousands) Financial assets: Cash and cash equivalents $ 635,933 $ 635,933 1 Federal funds sold 24,109 24,109 1 Investment securities – held-to-maturity 224,756 227,539 2 Loans receivable, net of impaired loans and allowance 10,148,470 10,055,901 3 Accrued interest receivable 45,708 45,708 1 Financial liabilities: Deposits: Demand and non-interest $ 2,385,252 $ 2,385,252 1 Savings and interest-bearing transaction accounts 6,476,819 6,476,819 1 Time deposits 1,526,431 1,514,670 3 Securities sold under agreements to repurchase 147,789 147,789 1 FHLB and other borrowed funds 1,299,188 1,299,961 2 Accrued interest payable 5,583 5,583 1 Subordinated debentures 368,031 379,146 3 December 31, 2016 Carrying 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 |
Regulatory Matters
Regulatory Matters | 12 Months Ended |
Dec. 31, 2017 | |
Banking and Thrift [Abstract] | |
Regulatory Matters | 22. 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 2017, the Company requested approximately $86.7 million in regular dividends from its banking subsidiary. This dividend is equal to approximately 57.5% 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 December 31, 2017, the Company meets all capital adequacy requirements to which it is subject. In July 2013, the Federal Reserve Board and the other federal bank regulatory agencies issued a final rule to revise their risk-based and leverage capital requirements and their method for calculating risk-weighted assets to make them consistent with the agreements that were reached by the Basel Committee on Banking Supervision in “Basel III: A Global Regulatory Framework for More Resilient Banks and Banking Systems” and certain provisions of the Dodd-Frank Act (“Basel III”). Basel III applies to all depository institutions, bank holding companies with total consolidated assets of $500 million or more, and savings and loan holding companies. Basel III became effective for the Company and its bank subsidiary on January 1, 2015. The capital conservation buffer requirement began being phased in beginning January 1, 2016 at the 0.625% level and will increase by 0.625% on each subsequent January 1, until it reaches 2.5% on January 1, 2019 when the phase-in Basel III amended the prompt corrective action rules to incorporate a “common equity Tier 1 capital” requirement and to raise the capital requirements for certain capital categories. In order to be adequately capitalized for purposes of the prompt corrective action rules, a banking organization will be required to have at least a 4.5% “common equity Tier 1 risk-based capital” ratio, a 4% “Tier 1 leverage capital” ratio, a 6% “Tier 1 risk-based capital” ratio and an 8% “total risk-based capital” ratio. 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 December 31, 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 10.86%, 9.98%, 11.48%, and 15.05%, respectively, as of December 31, 2017. The Company’s actual capital amounts and ratios along with the Company’s bank subsidiary are presented in the following table. Actual Minimum Capital Basel III Phase-In Minimum Capital Basel III Fully Phased-In Minimum To Be Well-Capitalized Amount Ratio Amount Ratio Amount Ratio Amount Ratio (Dollars in thousands) As of December 31, 2017 Common equity Tier 1 capital ratios: Home BancShares $ 1,240,822 10.86 % $ 656,973 5.750 % $ 799,793 7.00 % $ N/A N/A % Centennial Bank 1,546,451 13.55 656,243 5.750 798,905 7.00 741,840 6.50 Leverage ratios: Home BancShares $ 1,311,520 9.98 % $ 525,659 4.000 % $ 525,659 4.00 % $ N/A N/A % Centennial Bank 1,546,451 11.76 526,004 4.000 526,004 4.00 657,505 5.00 Tier 1 capital ratios: Home BancShares $ 1,311,520 11.48 % $ 828,268 7.250 % $ 971,073 8.50 % $ N/A N/A % Centennial Bank 1,546,451 13.55 827,437 7.250 970,098 8.50 913,034 8.00 Total risk-based capital ratios: Home BancShares $ 1,719,118 15.05 % $ 1,056,601 9.250 % $ 1,199,385 10.50 % $ N/A N/A % Centennial Bank 1,656,717 14.52 1,055,415 9.250 1,198,039 10.50 1,140,990 10.00 As of December 31, 2016 Common equity Tier 1 capital ratios: Home BancShares $ 938,754 11.30 % $ 425,762 5.125 % $ 581,529 7.00 % $ N/A N/A % Centennial Bank 920,232 11.10 424,882 5.125 580,326 7.00 538,875 6.50 Leverage ratios: Home BancShares $ 997,754 10.63 % $ 375,448 4.000 % $ 375,448 4.00 % $ N/A N/A % Centennial Bank 920,232 9.81 375,222 4.000 375,222 4.00 469,028 5.00 Tier 1 capital ratios: Home BancShares $ 997,754 12.01 % $ 550,385 6.625 % $ 706,154 8.50 % $ N/A N/A % Centennial Bank 920,232 11.10 549,238 6.625 704,682 8.50 663,230 8.00 Total risk-based capital ratios: Home BancShares $ 1,077,756 12.97 % $ 716,704 8.625 % $ 872,509 10.50 % $ N/A N/A % Centennial Bank 1,000,234 12.07 714,749 8.625 870,129 10.50 828,694 10.00 |
Additional Cash Flow Informatio
Additional Cash Flow Information | 12 Months Ended |
Dec. 31, 2017 | |
Supplemental Cash Flow Elements [Abstract] | |
Additional Cash Flow Information | 23. 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. In connection with the Stonegate acquisition, accounted for using the purchase method, the Company acquired approximately $2.89 billion in assets, including $101.0 million in cash and cash equivalents, assumed $2.60 billion in liabilities, issued 30,863,658 shares of its common stock valued at approximately $742.3 million as of September 26, 2017, and paid $50.1 million in cash in exchange for all outstanding shares of Stonegate common stock. The following is summary of the Company’s additional cash flow information during the years ended December 31: 2017 2016 2015 (In thousands) Interest paid $ 61,930 $ 30,463 $ 21,040 Income taxes paid 124,830 81,900 79,740 Assets acquired by foreclosure 10,318 10,957 19,874 |
Condensed Financial Information
Condensed Financial Information (Parent Company Only) | 12 Months Ended |
Dec. 31, 2017 | |
Condensed Financial Information of Parent Company Only Disclosure [Abstract] | |
Condensed Financial Information (Parent Company Only) | 24. Condensed Financial Information (Parent Company Only) Condensed Balance Sheets December 31, (In thousands) 2017 2016 Assets Cash and cash equivalents $ 44,046 $ 53,589 Investment securities 2,831 7,873 Investments in wholly-owned subsidiaries 2,509,375 1,307,811 Investments in unconsolidated subsidiaries 2,201 1,826 Premises and equipment 7,026 7,126 Other assets 12,530 12,107 Total assets $ 2,578,009 $ 1,390,332 Liabilities Subordinated debentures $ 368,031 $ 60,826 Other liabilities 5,687 2,016 Total liabilities 373,718 62,842 Stockholders’ Equity Common stock 1,736 1,405 Capital surplus 1,675,318 869,737 Retained earnings 530,658 455,948 Accumulated other comprehensive income (loss) (3,421 ) 400 Total stockholders’ equity 2,204,291 1,327,490 Total liabilities and stockholders’ equity $ 2,578,009 $ 1,390,332 Condensed Statements of Income Years Ended December 31, (In thousands) 2017 2016 2015 Income Dividends from banking subsidiary $ 86,695 $ 44,623 $ 76,168 Other income 2,241 608 51 Total income 88,936 45,231 76,219 Expenses 26,634 12,514 8,387 Income before income taxes and equity in undistributed net income of subsidiaries 62,302 32,717 67,832 Tax benefit for income taxes 8,826 4,787 3,048 Income before equity in undistributed net income of subsidiaries 71,128 37,504 70,880 Equity in undistributed net income of subsidiaries 63,955 139,642 67,319 Net income $ 135,083 $ 177,146 $ 138,199 Condensed Statements of Cash Flows Years Ended December 31, (In thousands) 2017 2016 2015 Cash flows from operating activities Net income $ 135,083 $ 177,146 $ 138,199 Items not requiring (providing) cash Depreciation 213 141 — Amortization/(accretion) 612 176 — Share-based compensation 6,705 6,628 3,925 Tax benefit from stock options exercised — (4,154 ) (605 ) (Gain) loss on assets (2,393 ) (410 ) Equity in undistributed income of subsidiaries (63,955 ) (139,642 ) (67,319 ) Changes in other assets (10,748 ) 5,888 5,308 Changes in other liabilities 14,202 (6,694 ) (576 ) Net cash provided by (used in) operating activities 79,719 39,079 78,932 Cash flows from investing activities Purchases of premises and equipment, net (4,075 ) (7,273 ) (5,927 ) Proceeds from sale of premises and equipment, net 3,957 3,293 — Capital contribution to subsidiary (250,000 ) (24 ) — Purchase of Florida Business BancGroup, Inc. — — (17,445 ) Purchase of Giant Holdings, Inc. (16,591 ) — — Purchase of Bank of Commerce (4,175 ) — — Disposition of RCA Air, LLC 382 — — Purchase of Stonegate Bank (40,649 ) — — Proceeds from sale of investment securities 5,629 2,104 — Purchase of investment securities — — (6,946 ) Net cash provided by (used in) investing activities (305,522 ) (1,900 ) (30,318 ) Cash flows from financing activities Proceeds from exercise of stock options 1,082 1,495 389 Common stock issuance costs – market acquisitions (825 ) — (60 ) Tax benefit from stock options exercised — 4,154 605 Repurchase of common stock (20,825 ) (9,817 ) (2,015 ) Proceeds from issuance of subordinated debt 297,201 — — Dividends paid (60,373 ) (48,096 ) (37,580 ) Net cash provided by (used in) financing activities 216,260 (52,264 ) (38,661 ) Increase (decrease) in cash and cash equivalents (9,543 ) (15,085 ) 9,953 Cash and cash equivalents, beginning of year 53,589 68,674 58,721 Cash and cash equivalents, end of year $ 44,046 $ 53,589 $ 68,674 |
Recent Accounting Pronouncement
Recent Accounting Pronouncements | 12 Months Ended |
Dec. 31, 2017 | |
Accounting Changes and Error Corrections [Abstract] | |
Recent Accounting Pronouncements | 25. 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. 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 In October 2016, the FASB issued ASU 2016-16, Income Taxes (Topic 740): Intra-Entity Transfers of Assets Other Than Inventory 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) In January 2017, the FASB issued ASU 2017-01, Business Combinations (Topic 805): Clarifying the Definition of a Business 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. In March 2017, the FASB issued ASU 2017-08, Receivables – Nonrefundable Fees and Other Costs (Topic 310): Premium Amortization on Purchased Callable Debt Securities 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 In August 2017, the FASB issued ASU 2017-12, Derivatives and Hedging (Topic 815) – Targeted Improvements to Accounting for Hedging Activities 2017-12 In February 2018, the FASB issued ASU 2018-02, Income Statement – Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income 2018-02 |
Nature of Operations and Summ34
Nature of Operations and Summary of Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 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 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 banking services and branch locations are considered by management to be aggregated into one reportable operating segment. |
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. |
Cash and Cash Equivalents | Cash and Cash Equivalents Cash and cash equivalents consist of cash on hand, cash held as demand deposits at various banks and the Federal Reserve Bank (“FRB”) and interest-bearing deposits with other banks. The Bank is required to maintain an average reserve balance with either the FRB or in the form of cash on hand. The required reserve balance at December 31, 2017 was $103.2 million. |
Investment Securities | Investment Securities Interest on investment securities is recorded as income as earned. Amortization of premiums and accretion of discounts are recorded as interest income from securities. Realized gains and losses are recorded as net security gains (losses). Gains or losses on the sale of securities are determined using the specific identification method. Management determines the classification of securities as available-for-sale, held-to-maturity, Securities available-for-sale available-for-sale available-for-sale. Securities held-to-maturity |
Loans Receivable and Allowance for Loan Losses | Loans Receivable and Allowance for Loan Losses Loans receivable that management has the intent and ability to hold for the foreseeable future or until maturity or payoff are reported at their outstanding principal balance adjusted for any charge-offs, deferred fees or costs on originated loans. Interest income on loans is accrued over the term of the loans based on the principal balance outstanding. Loan origination fees and direct origination costs are capitalized and recognized as adjustments to yield on the related loans. The allowance for loan losses is established through a provision for loan losses charged against income. The allowance represents an amount that, in management’s judgment, will be adequate to absorb probable credit losses on existing loans that may become uncollectible and probable credit losses inherent in the remainder of the loan portfolio. The amounts of provisions to the allowance for loan losses are based on management’s analysis and evaluation of the loan portfolio for identification of problem credits, internal and external factors that may affect collectability, relevant credit exposure, particular risks inherent in different kinds of lending, current collateral values and other relevant factors. The allowance consists of allocated and general components. The allocated component relates to loans that are classified as impaired. For those loans that are classified as impaired, an allowance is established when the discounted cash flows, collateral value or observable market price of the impaired loan is lower than the carrying value of that loan. The general component covers non-classified charge-off 310-30, Loans Acquired with Deteriorated Credit Quality, Loans considered impaired, under FASB ASC 310-10-35, Groups of loans with similar risk characteristics are collectively evaluated for impairment based on the group’s historical loss experience adjusted for changes in trends, conditions and other relevant factors that affect repayment of the loans. Loans are placed on non-accrual non-accrual non-accrual Non-accrual six-month |
Acquisition Accounting and Acquired Loans | Acquisition Accounting and Acquired Loans The Company accounts for its acquisitions under FASB ASC Topic 805, Business Combinations Fair Value Measurements Over the life of the purchased loans, the Company continues to estimate cash flows expected to be collected on individual loans or on pools of loans sharing common risk characteristics and are treated in the aggregate when applying various valuation techniques. The Company evaluates at each balance sheet date whether the present value of its loans determined using the effective interest rates has significantly decreased and if so, recognizes a provision for loan loss in its consolidated statement of income. For any significant increases in cash flows expected to be collected, the Company adjusts the amount of accretable yield recognized on a prospective basis over the loan’s or pool’s weighted-average life. For further discussion of the Company’s acquisitions, see Note 2 to the Notes to Consolidated Financial Statements. |
Foreclosed Assets Held for Sale | Foreclosed Assets Held for Sale Real estate and personal properties acquired through or in lieu of loan foreclosure are to be sold and are initially recorded at fair value less cost to sell at the date of foreclosure, establishing a new cost basis. Valuations are periodically performed by management, and the real estate and personal properties are carried at fair value less costs to sell. Gains and losses from the sale of other real estate and personal properties are recorded in non-interest non-interest |
Bank Premises and Equipment | Bank Premises and Equipment Bank premises and equipment are carried at cost or fair market value at the date of acquisition less accumulated depreciation. Depreciation expense is computed using the straight-line method over the estimated useful lives of the assets. Accelerated depreciation methods are used for tax purposes. Leasehold improvements are capitalized and amortized using the straight-line method over the terms of the respective leases or the estimated useful lives of the improvements whichever is shorter. The assets’ estimated useful lives for book purposes are as follows: Bank premises 15-40 years Furniture, fixtures, and equipment 3-15 years |
Cash value of life insurance | Cash value of life insurance The Company has purchased life insurance policies on certain key employees. Life insurance owned by the Company is recorded at the amount that can be realized under the insurance contract at the balance sheet date, which is the cash surrender value adjusted for other charges or other amounts due that are probable at settlement. |
Intangible Assets | Intangible Assets Intangible assets consist of goodwill and core deposit intangibles. Goodwill represents the excess purchase price over the fair value of net assets acquired in business acquisitions. The core deposit intangible represents the excess intangible value of acquired deposit customer relationships as determined by valuation specialists. The core deposit intangibles are being amortized over 48 to 121 months on a straight-line basis. Goodwill is not amortized but rather is evaluated for impairment on at least an annual basis. The Company performed its annual impairment test of goodwill and core deposit intangibles during 2017, 2016 and 2015, as required by FASB ASC 350, Intangibles - Goodwill and Other |
Securities Sold Under Agreements to Repurchase | Securities Sold Under Agreements to Repurchase Securities sold under agreements to repurchase consist of obligations of the Company to other parties. At the point funds deposited by customers become investable, those funds are used to purchase securities owned by the Company and held in its general account with the designation of Customers’ Securities. A third party maintains control over the securities underlying overnight repurchase agreements. The securities involved in these transactions are generally U.S. Treasury or Federal Agency issues. Securities sold under agreements to repurchase generally mature on the banking day following that on which the investment was initially purchased and are treated as collateralized financing transactions which are recorded at the amounts at which the securities were sold plus accrued interest. Interest rates and maturity dates of the securities involved vary and are not intended to be matched with funds from customers. |
Derivative Financial Instruments | Derivative Financial Instruments The Company may enter into derivative contracts for the purposes of managing exposure to interest rate risk. The Company records all derivatives on the consolidated balance sheet at fair value. Historically the Company’s policy has been not to invest in derivative type investments. During 2017, the Company acquired standalone derivative financial instruments from Stonegate. These derivative financial instruments consist of interest rate swaps and are recognized as assets and liabilities in the consolidated statements of financial condition at fair value. The Bank’s derivative instruments have not been designated as hedging instruments. These undesignated derivative instruments are recognized on the consolidated balance sheet at fair value, with changes in fair value recorded in other noninterest income. As of December 31, 2017, these derivative instruments are not considered to be material to the Company’s financial position and results of operations. In addition, as of December 31, 2017, the Company had derivative contracts outstanding associated with the mortgage loans held for sale portfolio. As of December 31, 2016, the Company had no derivative contracts outstanding except for commitments associated with the mortgage loans held for sale portfolio. |
Stock Options | Stock Options The Company accounts for stock options in accordance with FASB ASC 718, Compensation - Stock Compensation, 505-50, Equity-Based Payments to Non-Employees In March 2016, the FASB issued ASU 2016-09, Compensation - Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting 2016-09. |
Termination of Remaining Loss-Share Agreements | Termination of Remaining Loss-Share Agreements Effective July 27, 2016, we reached an agreement terminating our remaining loss-share agreements with the FDIC. As a result, $57.4 million of the loans, previously under loss-share agreements including their associated discounts which were previously classified as covered loans, migrated to non-covered one-time true-up pre-tax |
Income Taxes | Income Taxes The Company accounts for income taxes in accordance with income tax accounting guidance (ASC 740, Income Taxes Deferred income tax expense results from changes in deferred tax assets and liabilities between periods. Deferred tax assets are recognized if it is more likely than not, based on the technical merits, that the tax position will be realized or sustained upon examination. The term more likely than not means a likelihood of more than 50 percent; the terms examined and upon examination also include resolution of the related appeals or litigation processes, if any. A tax position that meets the more-likely-than-not more-likely-than-not The Company and its subsidiaries file consolidated tax returns. Its subsidiary provides for income taxes on a separate return basis, and remits to the Company amounts determined to be currently payable. |
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 years ended December 31: 2017 2016 2015 (In thousands, except per share data) Net income $ 135,083 $ 177,146 $ 138,199 Average common shares outstanding 150,806 140,418 136,615 Effect of common stock options 722 295 515 Diluted common shares outstanding 151,528 140,713 137,130 Basic earnings per common share $ 0.90 $ 1.26 $ 1.01 Diluted earnings per common share $ 0.89 $ 1.26 $ 1.01 |
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. Starting in 2016, the Company began using a third party comparison pricing vendor in order to reflect consistency in the fair values of the investment securities sampled by the Company each quarter. Impaired loans that are collateral dependent are the only material financial assets valued on a non-recurring 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 $1.2 million were remeasured during year ended December 31, 2017, resulting in a write-down of approximately $636,000. Regulatory guidelines require the Company 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. December 31, 2017 Carrying Amount Fair Value Level (In thousands) Financial assets: Cash and cash equivalents $ 635,933 $ 635,933 1 Federal funds sold 24,109 24,109 1 Investment securities – held-to-maturity 224,756 227,539 2 Loans receivable, net of impaired loans and allowance 10,148,470 10,055,901 3 Accrued interest receivable 45,708 45,708 1 Financial liabilities: Deposits: Demand and non-interest $ 2,385,252 $ 2,385,252 1 Savings and interest-bearing transaction accounts 6,476,819 6,476,819 1 Time deposits 1,526,431 1,514,670 3 Securities sold under agreements to repurchase 147,789 147,789 1 FHLB and other borrowed funds 1,299,188 1,299,961 2 Accrued interest payable 5,583 5,583 1 Subordinated debentures 368,031 379,146 3 December 31, 2016 Carrying 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. 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 In October 2016, the FASB issued ASU 2016-16, Income Taxes (Topic 740): Intra-Entity Transfers of Assets Other Than Inventory 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) In January 2017, the FASB issued ASU 2017-01, Business Combinations (Topic 805): Clarifying the Definition of a Business 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. In March 2017, the FASB issued ASU 2017-08, Receivables – Nonrefundable Fees and Other Costs (Topic 310): Premium Amortization on Purchased Callable Debt Securities 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 In August 2017, the FASB issued ASU 2017-12, Derivatives and Hedging (Topic 815) – Targeted Improvements to Accounting for Hedging Activities 2017-12 In February 2018, the FASB issued ASU 2018-02, Income Statement – Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income 2018-02 |
Stonegate Bank [Member] | |
Business Combinations | The Company has determined that the acquisition of the net assets of Stonegate 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 $2.37 billion 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, |
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 $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, |
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 Summ35
Nature of Operations and Summary of Significant Accounting Policies (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Schedule of Estimated Useful Lives for Book Purposes | The assets’ estimated useful lives for book purposes are as follows: Bank premises 15-40 years Furniture, fixtures, and equipment 3-15 years |
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 years ended December 31: 2017 2016 2015 (In thousands, except per share data) Net income $ 135,083 $ 177,146 $ 138,199 Average common shares outstanding 150,806 140,418 136,615 Effect of common stock options 722 295 515 Diluted common shares outstanding 151,528 140,713 137,130 Basic earnings per common share $ 0.90 $ 1.26 $ 1.01 Diluted earnings per common share $ 0.89 $ 1.26 $ 1.01 |
Business Combinations (Tables)
Business Combinations (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Stonegate Bank [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: Stonegate Bank Acquired from Stonegate Fair Value As Recorded by HBI (Dollars in thousands) Assets Cash and due from banks $ 100,958 $ — $ 100,958 Interest-bearing deposits with other banks 135,631 — 135,631 Federal funds sold 1,515 — 1,515 Investment securities 103,041 474 103,515 Loans receivable 2,446,149 (74,067 ) 2,372,082 Allowance for loan losses (21,507 ) 21,507 — Loans receivable, net 2,424,642 (52,560 ) 2,372,082 Bank premises and equipment, net 38,868 (3,572 ) 35,296 Foreclosed assets held for sale 4,187 (801 ) 3,386 Cash value of life insurance 48,000 — 48,000 Accrued interest receivable 7,088 — 7,088 Deferred tax asset, net 27,340 11,990 39,330 Goodwill 81,452 (81,452 ) — Core deposit and other intangibles 10,505 20,364 30,869 Other assets 9,598 255 9,853 Total assets acquired $ 2,992,825 $ (105,302 ) $ 2,887,523 Liabilities Deposits Demand and non-interest-bearing $ 585,959 $ — $ 585,959 Savings and interest-bearing transaction accounts 1,776,256 — 1,776,256 Time deposits 163,567 (85 ) 163,482 Total deposits 2,525,782 (85 ) 2,525,697 FHLB borrowed funds 32,667 184 32,851 Securities sold under agreements to repurchase 26,163 — 26,163 Accrued interest payable and other liabilities 8,100 (484 ) 7,616 Subordinated debentures 8,345 1,489 9,834 Total liabilities assumed 2,601,057 1,104 2,602,161 Equity Total equity assumed 391,768 (391,768 ) — Total liabilities and equity assumed $ 2,992,825 $ (390,664 ) 2,602,161 Net assets acquired 285,362 Purchase price 792,370 Goodwill $ 507,008 |
Schedule of Unaudited Pro Forma Combined Financial Information | The following schedule represents the unaudited pro forma combined financial information as of the years ended December 31, 2017 and 2016, assuming the acquisition was completed as of January 1, 2017 and 2016, respectively: Years Ended December 31, 2017 2016 (In thousands, except per share data) Total interest income $ 610,697 $ 538,258 Total non-interest 107,179 95,555 Net income available to all shareholders 143,979 206,081 Basic earnings per common share $ 0.79 $ 1.20 Diluted earnings per common share 0.79 1.20 |
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, net 2,286 1,807 4,093 Core deposit and other intangibles 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 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, net — 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 |
Florida Business BancGroup 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: Florida Business BancGroup, Inc. Acquired from FBBI Fair Value As Recorded by HBI (Dollars in thousands) Assets Cash and due from banks $ 23,597 $ — $ 23,597 Investment securities 61,384 611 61,995 Loans 422,363 (14,096 ) 408,267 Allowance for loan losses (5,714 ) 5,714 — Total loans receivable 416,649 (8,382 ) 408,267 Bank premises and equipment, net 6,922 (1,697 ) 5,225 Foreclosed assets held for sale 205 (43 ) 162 Cash value of life insurance 9,540 — 9,540 Accrued interest receivable 1,442 — 1,442 Deferred tax asset 10,608 1,070 11,678 Core deposit intangible — 3,477 3,477 Other assets 1,289 2,890 4,179 Total assets acquired $ 531,636 $ (2,074 ) $ 529,562 Liabilities Deposits Demand and non-interest-bearing $ 150,625 $ — $ 150,625 Savings and interest-bearing transaction accounts 166,990 — 166,990 Time deposits 153,230 1,127 154,357 Total deposits 470,845 1,127 471,972 FHLB borrowed funds 5,000 802 5,802 Accrued interest payable and other liabilities 3,208 (319 ) 2,889 Total liabilities assumed 479,053 1,610 480,663 Equity Total equity assumed 52,583 (52,583 ) — Total liabilities and equity assumed $ 531,636 $ (50,973 ) 480,663 Net assets acquired 48,899 Purchase Price 104,154 Goodwill $ 55,255 |
Doral Bank's Florida [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: Doral Bank’s Florida Panhandle Acquired from FDIC Fair Value As Recorded by HBI (Dollars in thousands) Assets Cash and due from banks $ 1,688 $ — $ 1,688 Loans receivable 42,244 (4,300 ) 37,944 Total loans receivable 42,244 (4,300 ) 37,944 Core deposit intangible — 1,363 1,363 Total assets acquired $ 43,932 $ (2,937 ) $ 40,995 Liabilities Deposits Demand and non-interest-bearing $ 3,130 $ — $ 3,130 Savings and interest-bearing transaction accounts 119,865 — 119,865 Time deposits 343,271 1,308 344,579 Total deposits 466,266 1,308 467,574 Total liabilities assumed $ 466,266 $ 1,308 467,574 Net assets acquired (liabilities assumed) (426,579 ) Cash settlement received (428,214 ) Pre-tax $ 1,635 |
Investment Securities (Tables)
Investment Securities (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Text Block [Abstract] | |
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 $ 5,791 $ 15 $ (15 ) $ 5,791 Residential mortgage-backed securities 56,982 107 (402 ) 56,687 Commercial mortgage-backed securities 16,625 114 (40 ) 16,699 State and political subdivisions 145,358 3,031 (27 ) 148,362 Total $ 224,756 $ 3,267 $ (484 ) $ 227,539 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 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 December 31, 2017 Available-for-Sale Amortized Gross Gross Estimated (In thousands) U.S. government-sponsored enterprises $ 407,387 $ 899 $ (1,982 ) $ 406,304 Residential mortgage-backed securities 481,981 538 (4,919 ) 477,600 Commercial mortgage-backed securities 497,870 332 (4,430 ) 493,772 State and political subdivisions 247,292 3,783 (774 ) 250,301 Other securities 34,617 1,225 (302 ) 35,540 Total $ 1,669,147 $ 6,777 $ (12,407 ) $ 1,663,517 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 |
Amortized Cost and Estimated Fair Value of Securities Contractual Maturity | 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 $ 366,341 $ 365,526 $ 72,364 $ 74,079 Due after one year through five years 922,178 918,743 89,265 90,262 Due after five years through ten years 286,130 284,935 12,422 12,488 Due after ten years 94,498 94,313 50,705 50,710 Total $ 1,669,147 $ 1,663,517 $ 224,756 $ 227,539 |
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 held-to-maturity December 31, 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 $ 234,213 $ (1,288 ) $ 40,122 $ (709 ) $ 274,335 $ (1,997 ) Residential mortgage-backed securities 389,541 (3,656 ) 99,989 (1,665 ) 489,530 (5,321 ) Commercial mortgage-backed securities 314,301 (2,343 ) 120,365 (2,127 ) 434,666 (4,470 ) State and political subdivisions 41,299 (331 ) 20,980 (470 ) 62,279 (801 ) Other securities — — 9,852 (302 ) 9,852 (302 ) Total $ 979,354 $ (7,618 ) $ 291,308 $ (5,273 ) $ 1,270,662 $ (12,891 ) 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 years ended is as follows: December 31, 2017 2016 2015 (In thousands) Taxable: Available-for-sale $ 24,231 $ 17,880 $ 17,881 Held-to-maturity 2,545 3,366 3,814 Tax-exempt: Available-for-sale 6,441 6,238 5,767 Held-to-maturity 5,526 5,179 5,427 Total $ 38,743 $ 32,663 $ 32,889 |
Loans Receivable (Tables)
Loans Receivable (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Receivables [Abstract] | |
Summary of Various Categories of Loans Receivable | The various categories of loans receivable are summarized as follows: December 31, 2017 2016 (In thousands) Real estate: Commercial real estate loans Non-farm/non-residential $ 4,600,117 $ 3,153,121 Construction/land development 1,700,491 1,135,843 Agricultural 82,229 77,736 Residential real estate loans Residential 1-4 1,970,311 1,356,136 Multifamily residential 441,303 340,926 Total real estate 8,794,451 6,063,762 Consumer 46,148 41,745 Commercial and industrial 1,297,397 1,123,213 Agricultural 49,815 74,673 Other 143,377 84,306 Loans receivable $ 10,331,188 $ 7,387,699 |
Allowance for Loan Losses, Cr39
Allowance for Loan Losses, Credit Quality and Other (Tables) | 12 Months Ended |
Dec. 31, 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: December 31, 2017 (In thousands) Allowance for loan losses: Beginning balance $ 80,002 Loans charged off (17,471 ) Recoveries of loans previously charged off 3,485 Net loans recovered (charged off) (13,986 ) Provision for loan losses 44,250 Balance, December 31, 2017 $ 110,266 |
Balance of Allowance for Loan Losses | The following tables present the balance in the allowance for loan losses for the year ended December 31, 2017, and the allowance for loan losses and recorded investment in loans based on portfolio segment by impairment method as of December 31, 2017. Allocation of a portion of the allowance to one type of loans does not preclude its availability to absorb losses in other categories. Year Ended December 31, 2017 Construction/ Land Other Commercial Residential Real Estate Commercial & Industrial Consumer & Other Unallocated Total Allowance for loan losses: (In thousands) Beginning balance $ 11,522 $ 28,188 $ 16,517 $ 12,756 $ 4,188 $ 6,831 $ 80,002 Loans charged off (1,632 ) (3,749 ) (3,980 ) (5,578 ) (2,532 ) — (17,471 ) Recoveries of loans previously charged off 462 1,042 676 464 841 — 3,485 Net loans recovered (charged off) (1,170 ) (2,707 ) (3,304 ) (5,114 ) (1,691 ) — (13,986 ) Provision for loan losses 9,991 18,458 11,293 7,650 837 (3,979 ) 44,250 Balance, December 31 $ 20,343 $ 43,939 $ 24,506 $ 15,292 $ 3,334 $ 2,852 $ 110,266 As of December 31, 2017 Construction/ Land Other Commercial Residential Real Estate Commercial & Industrial Consumer & Other Unallocated Total Allowance for loan losses: (In thousands) Period end amount allocated to: Loans individually evaluated for impairment $ 1,378 $ 768 $ 188 $ 843 $ 7 $ — $ 3,184 Loans collectively evaluated for impairment 18,954 42,824 23,341 14,290 3,310 2,852 105,571 Loans evaluated for impairment balance, December 31 20,332 43,592 23,529 15,133 3,317 2,852 108,755 Purchased credit impaired loans 11 347 977 159 17 — 1,511 Balance, December 31 $ 20,343 $ 43,939 $ 24,506 $ 15,292 $ 3,334 $ 2,852 $ 110,266 Loans receivable: Period end amount allocated to: Loans individually evaluated for impairment $ 26,860 $ 124,124 $ 20,431 $ 21,867 $ 500 $ — $ 193,782 Loans collectively evaluated for impairment 1,658,519 4,442,201 2,341,081 1,261,161 236,392 — 9,939,354 Loans evaluated for impairment balance, December 31 1,685,379 4,566,325 2,361,512 1,283,028 236,892 — 10,133,136 Purchased credit impaired loans 15,112 116,021 50,102 14,369 2,448 — 198,052 Balance, December 31 $ 1,700,491 $ 4,682,346 $ 2,411,614 $ 1,297,397 $ 239,340 $ — $ 10,331,188 The following tables present the balance in the allowance for loan losses for the loan portfolio for the year ended December 31, 2016, and the allowance for loan losses and recorded investment in loans based on portfolio segment by impairment method as of December 31, 2016. Allocation of a portion of the allowance to one type of loans does not preclude its availability to absorb losses in other categories. Year Ended December 31, 2016 Construction/ Land Other Commercial Residential Real Estate Commercial & Industrial Consumer & Other Unallocated Total Allowance for loan losses: (In thousands) Beginning balance $ 10,782 $ 26,798 $ 14,818 $ 9,324 $ 5,016 $ 2,486 $ 69,224 Loans charged off (382 ) (3,586 ) (5,597 ) (5,778 ) (2,158 ) — (17,501 ) Recoveries of loans previously charged off 1,125 857 1,152 5,533 1,004 — 9,671 Net loans recovered (charged off) 743 (2,729 ) (4,445 ) (245 ) (1,154 ) — (7,830 ) Provision for loan losses (3 ) 4,119 6,144 3,677 326 4,345 18,608 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 Allowance for loan losses: (In thousands) 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 tables present the balance in the allowance for loan losses for the loan portfolio for the year ended December 31, 2015, and the allowance for loan losses and recorded investment in loans based on portfolio segment by impairment method as of December 31, 2015. Allocation of a portion of the allowance to one type of loans does not preclude its availability to absorb losses in other categories. Year Ended December 31, 2015 Construction/ Land Other Commercial Residential Real Estate Commercial & Consumer & Other Unallocated Total Allowance for loan losses: (In thousands) Beginning balance $ 8,548 $ 18,157 $ 14,607 $ 5,966 $ 5,799 $ 1,934 $ 55,011 Loans charged off (644 ) (4,878 ) (4,717 ) (2,638 ) (3,075 ) — (15,952 ) Recoveries of loans previously charged off 236 762 915 802 827 — 3,542 Net loans recovered (charged off) (408 ) (4,116 ) (3,802 ) (1,836 ) (2,248 ) — (12,410 ) Provision for loan losses 2,273 11,862 3,818 5,204 1,455 552 25,164 Increase in FDIC indemnification asset 369 895 195 (10 ) 10 — 1,459 Balance, December 31 $ 10,782 $ 26,798 $ 14,818 $ 9,324 $ 5,016 $ 2,486 $ 69,224 As of December 31, 2015 Construction/ Land Other Commercial Residential Real Estate Commercial & Consumer & Other Unallocated Total Allowance for loan losses: (In thousands) Period end amount allocated to: Loans individually evaluated for impairment $ 1,149 $ 2,115 $ 186 $ 921 $ — $ — $ 4,371 Loans collectively evaluated for impairment 9,506 24,511 12,157 8,383 5,006 2,486 62,049 Loans evaluated for impairment balance, December 31 10,655 26,626 12,343 9,304 5,006 2,486 66,420 Purchased credit impaired loans 127 172 2,475 20 10 — 2,804 Balance, December 31 $ 10,782 $ 26,798 $ 14,818 $ 9,324 $ 5,016 $ 2,486 $ 69,224 Loans receivable: Period end amount allocated to: Loans individually evaluated for impairment $ 21,215 $ 55,858 $ 18,240 $ 6,290 $ 1,053 $ — $ 102,656 Loans collectively evaluated for impairment 901,147 2,887,880 1,490,866 825,640 179,391 — 6,284,924 Loans evaluated for impairment balance, December 31 922,362 2,943,738 1,509,106 831,930 180,444 — 6,387,580 Purchased credit impaired loans 22,425 99,624 111,429 18,657 1,856 — 253,991 Balance, December 31 $ 944,787 $ 3,043,362 $ 1,620,535 $ 850,587 $ 182,300 $ — $ 6,641,571 |
Summary of Aging Analysis for Loans Receivable | The following is an aging analysis for loans receivable for the years ended December 31, 2017 and 2016: December 31, 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 Real estate: (In thousands) Commercial real estate loans Non-farm/non-residential $ 6,331 $ 1,480 $ 12,719 $ 20,530 $ 4,579,587 $ 4,600,117 $ 3,119 Construction/land development 834 13 8,258 9,105 1,691,386 1,700,491 3,247 Agricultural — 221 19 240 81,989 82,229 — Residential real estate loans Residential 1-4 9,066 2,013 16,612 27,691 1,942,620 1,970,311 2,175 Multifamily residential — — 253 253 441,050 441,303 100 Total real estate 16,231 3,727 37,861 57,819 8,736,632 8,794,451 8,641 Consumer 252 51 171 474 45,674 46,148 26 Commercial and industrial 2,073 1,030 6,528 9,631 1,287,766 1,297,397 1,944 Agricultural and other 288 113 137 538 192,654 193,192 54 Total $ 18,844 $ 4,921 $ 44,697 $ 68,462 $ 10,262,726 $ 10,331,188 $ 10,665 December 31, 2016 Loans Past Due 30-59 Loans Past Due 60-89 Loans Past Due 90 Days or More Total Past Due Current Loans Total Loans Receivable Accruing Loans Past Due 90 Days or More Real estate: (In thousands) 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 December 31, 2017, 2016 and 2015: December 31, 2017 Unpaid Total Allocation of Allowance Year Ended Average Interest Recognized Loans without a specific valuation allowance (In thousands) Real estate: Commercial real estate loans Non-farm/non-residential $ 29 $ 29 $ — $ 23 $ 2 Construction/land development 64 64 — 31 3 Agricultural 19 — — — 1 Residential real estate loans Residential 1-4 115 115 — 135 7 Multifamily residential — — — — — Total real estate 227 208 — 189 13 Consumer 18 — — — 1 Commercial and industrial 105 105 — 85 7 Agricultural and other — — — — — Total loans without a specific valuation allowance 350 313 — 274 21 Loans with a specific valuation allowance Real estate: Commercial real estate loans Non-farm/non-residential 29,666 29,040 757 41,772 1,498 Construction/land development 12,976 12,157 1,378 10,556 262 Agricultural 281 303 11 268 11 Residential real estate loans Residential 1-4 19,770 18,689 124 22,347 363 Multifamily residential 1,627 1,627 64 1,412 81 Total real estate 64,320 61,816 2,334 76,355 2,215 Consumer 179 191 — 163 — Commercial and industrial 16,777 13,007 843 9,726 121 Agricultural and other 297 309 7 644 8 Total loans with a specific valuation allowance 81,573 75,323 3,184 86,888 2,344 Total impaired loans Real estate: Commercial real estate loans Non-farm/non-residential 29,695 29,069 757 41,795 1,500 Construction/land development 13,040 12,221 1,378 10,587 265 Agricultural 300 303 11 268 12 Residential real estate loans Residential 1-4 19,885 18,804 124 22,482 370 Multifamily residential 1,627 1,627 64 1,412 81 Total real estate 64,547 62,024 2,334 76,544 2,228 Consumer 197 191 — 163 1 Commercial and industrial 16,882 13,112 843 9,811 128 Agricultural and other 297 309 7 644 8 Total impaired loans $ 81,923 $ 75,636 $ 3,184 $ 87,162 $ 2,365 Note 310-30. December 31, 2016 Unpaid Total Allocation of Allowance Year Ended Average Interest Recognized Loans without a specific valuation allowance (In thousands) 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. December 31, 2015 Unpaid Total Allocation of Allowance Year Ended Average Interest Recognized Loans without a specific valuation allowance (In thousands) Real estate: Commercial real estate loans Non-farm/non-residential $ 29 $ 29 $ — $ 6 $ 2 Construction/land development — — — — — Agricultural — — — — — Residential real estate loans Residential 1-4 80 80 — 21 6 Multifamily residential — — — — — Total real estate 109 109 — 27 8 Consumer — — — — — Commercial and industrial 12 12 — 2 1 Agricultural and other — — — — — Total loans without a specific valuation allowance 121 121 — 29 8 Loans with a specific valuation allowance Real estate: Commercial real estate loans Non-farm/non-residential 47,861 44,872 2,115 43,900 1,139 Construction/land development 17,025 15,077 1,149 16,026 303 Agricultural 583 561 — 153 — Residential real estate loans Residential 1-4 18,454 17,373 168 16,947 390 Multifamily residential 1,160 1,160 18 3,281 34 Total real estate 85,083 79,043 3,450 80,307 1,866 Consumer 306 286 — 570 7 Commercial and industrial 13,385 11,169 921 6,542 191 Agricultural and other 1,034 1,034 — 614 4 Total loans with a specific valuation allowance 99,808 91,532 4,371 88,033 2,069 Total impaired loans Real estate: Commercial real estate loans Non-farm/non-residential 47,890 44,887 2,115 43,906 1,141 Construction/land development 17,025 15,077 1,149 16,026 303 Agricultural 583 561 — 153 — Residential real estate loans Residential 1-4 18,534 17,413 168 16,968 396 Multifamily residential 1,160 1,160 18 3,281 34 Total real estate 85,192 79,098 3,450 80,334 1,874 Consumer 306 286 — 570 7 Commercial and industrial 13,397 11,175 921 6,544 192 Agricultural and other 1,034 1,034 — 614 4 Total impaired loans $ 99,929 $ 91,593 $ 4,371 $ 88,062 $ 2,077 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) December 31, 2017 Risk Rated 6 Risk Rated 7 Risk Rated 8 Classified Total Real estate: (In thousands) Commercial real estate loans Non-farm/non-residential $ 20,933 $ 518 $ — $ 21,451 Construction/land development 24,013 204 — 24,217 Agricultural 321 — — 321 Residential real estate loans Residential 1-4 23,420 564 — 23,984 Multifamily residential 939 — — 939 Total real estate 69,626 1,286 — 70,912 Consumer 159 9 — 168 Commercial and industrial 12,818 80 — 12,898 Agricultural and other 136 — — 136 Total $ 82,739 $ 1,375 $ — $ 84,114 December 31, 2016 Risk Rated 6 Risk Rated 7 Risk Rated 8 Classified Total Real estate: (In thousands) 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 $ 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 December 31, 2017 and 2016: December 31, 2017 Risk Rated 1 Risk Rated 2 Risk Rated 3 Risk Rated 4 Risk Rated 5 Classified Total Total Real estate: (In thousands) Commercial real estate loans Non-farm/non-residential $ 1,015 $ 558 $ 2,595,844 $ 1,745,778 $ 119,656 $ 21,451 $ 4,484,302 Construction/land development 28 583 280,980 1,373,133 6,438 24,217 1,685,379 Agricultural — 19 53,018 27,515 1,150 321 82,023 Residential real estate loans Residential 1-4 1,140 969 1,414,849 475,619 11,658 23,984 1,928,219 Multifamily residential — — 329,070 103,071 213 939 433,293 Total real estate 2,183 2,129 4,673,761 3,725,116 139,115 70,912 8,613,216 Consumer 13,106 808 22,479 8,532 70 168 45,163 Commercial and industrial 20,870 7,543 627,316 592,088 22,313 12,898 1,283,028 Agricultural and other 1,986 3,914 147,323 38,370 — 136 191,729 Total risk rated loans $ 38,145 $ 14,394 $ 5,470,879 $ 4,364,106 $ 161,498 $ 84,114 10,133,136 Purchased credit impaired loans 198,052 Total loans receivable $ 10,331,188 December 31, 2016 Risk Rated 1 Risk Rated 2 Risk Rated 3 Risk Rated 4 Risk Rated 5 Classified Total Total Real estate: (In thousands) 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 December 31, 2017, 2016 and 2015: December 31, 2017 Number of Loans Pre- Modification Rate Modification Term Modification Rate & Term Modification Post- Real estate: (Dollars in thousands) Commercial real estate loans Non-farm/non-residential 16 $ 16,853 $ 8,815 $ 250 $ 5,513 $ 14,578 Construction/land development 5 782 689 75 — 764 Agricultural 2 345 282 22 — 304 Residential real estate loans Residential 1-4 21 5,607 1,926 81 1,238 3,245 Multifamily residential 3 1,701 1,340 — 287 1,627 Total real estate 47 25,288 13,052 428 7,038 20,518 Consumer 3 19 — 18 — 18 Commercial and industrial 11 951 445 50 1 496 Agricultural and other 1 166 166 — — 166 Total 62 $ 26,424 $ 13,663 $ 496 $ 7,039 $ 21,198 December 31, 2016 Number of Loans Pre- Modification Rate Modification Term Modification Rate & Term Modification Post- Real estate: (Dollars in thousands) 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 December 31, 2015 Number of Loans Pre- Modification Rate Modification Term Modification Rate & Term Modification Post- Real estate: (Dollars in thousands) Commercial real estate loans Non-farm/non-residential 13 $ 14,422 $ 9,189 $ 273 $ 4,626 $ 14,088 Construction/land development 2 1,026 1,018 — — 1,018 Residential real estate loans Residential 1-4 8 2,813 811 1,925 — 2,736 Multifamily residential 1 295 — — 290 290 Total real estate 24 18,556 11,018 2,198 4,916 18,132 Commercial and industrial 2 69 — 69 — 69 Total 26 $ 18,625 $ 11,018 $ 2,267 $ 4,916 $ 18,201 |
Presentation of TDR's on Non-Accrual Status | The following is a presentation of TDRs on non-accrual December 31, 2017 December 31, 2016 December 31, 2015 Number of Loans Recorded Balance Number of Loans Recorded Balance Number of Loans Recorded Balance Real estate: (Dollars in thousands) Commercial real estate loans Non-farm/non-residential 2 $ 1,161 2 $ 696 3 $ 1,604 Agricultural 1 22 2 123 — — Residential real estate loans Residential 1-4 8 850 13 2,240 2 1,812 Multifamily residential 1 153 — — — — Total real estate 12 2,186 17 3,059 5 3,416 Commercial and industrial 1 — — — — — Total 13 $ 2,186 17 $ 3,059 5 $ 3,416 |
Summary of Total Foreclosed Assets | The following is a presentation of total foreclosed assets as of December 31, 2017 and 2016: December 31, 2017 December 31, 2016 (In thousands) Commercial real estate loans Non-farm/non-residential $ 9,766 $ 9,423 Construction/land development 5,920 4,009 Agricultural — — Residential real estate loans Residential 1-4 2,654 2,076 Multifamily residential 527 443 Total foreclosed assets held for sale $ 18,867 $ 15,951 |
Summary of Purchased Credit Impaired Loans Acquired | The following is a summary of the purchased credit impaired loans acquired in the GHI, BOC and Stonegate acquisitions during 2017 as of the dates of acquisition: GHI BOC Stonegate Contractually required principal and interest at acquisition $ 22,379 $ 18,586 $ 98,444 Non-accretable 4,462 2,811 23,297 Cash flows expected to be collected at acquisition 17,917 15,775 75,147 Accretable yield 2,071 1,043 11,761 Basis in purchased credit impaired loans at acquisition $ 15,846 $ 14,732 $ 63,386 |
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 year ended December 31, 2017 for the Company’s acquisitions: Accretable Yield Carrying (In thousands) Balance at beginning of period $ 38,212 $ 159,564 Reforecasted future interest payments for loan pools 5,586 — Accretion recorded to interest income (19,886 ) 19,886 Acquisitions 14,875 93,964 Adjustment to yield 3,016 — Transfers to foreclosed assets held for sale — (13,957 ) Payments received, net — (61,405 ) Balance at end of period $ 41,803 $ 198,052 |
Goodwill and Core Deposits an40
Goodwill and Core Deposits and Other Intangibles (Tables) | 12 Months Ended |
Dec. 31, 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 December 31, 2017 and 2016, were as follows: December 31, 2017 December 31, 2016 Goodwill (In thousands) Balance, beginning of period $ 377,983 $ 377,983 Acquisitions 549,966 — Balance, end of period $ 927,949 $ 377,983 December 31, 2017 December 31, 2016 Core Deposit and Other Intangibles (In thousands) Balance, beginning of period $ 18,311 $ 21,443 Acquisitions 35,247 — Amortization expense (4,207 ) (3,132 ) Balance, end of year $ 49,351 $ 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 December 31, 2017 and 2016 were: December 31, 2017 December 31, 2016 (In thousands) Gross carrying amount $ 86,625 $ 51,378 Accumulated amortization (37,274 ) (33,067 ) Net carrying amount $ 49,351 $ 18,311 |
Deposits (Tables)
Deposits (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Banking and Thrift [Abstract] | |
Summary of Scheduled Maturities of Time Deposits | The following is a summary of the scheduled maturities of all time deposits at December 31, 2017 (in thousands): One month or less $ 176,900 Over 1 month to 3 months 194,764 Over 3 months to 6 months 339,928 Over 6 months to 12 months 355,144 Over 12 months to 2 years 337,453 Over 2 years to 3 years 63,217 Over 3 years to 5 years 57,046 Over 5 years 1,979 Total time deposits $ 1,526,431 |
Securities Sold Under Agreeme42
Securities Sold Under Agreements to Repurchase (Tables) | 12 Months Ended |
Dec. 31, 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 December 31, 2017 and 2016 is presented in the following tables: December 31, 2017 Overnight and Up to 30 30-90 Days Greater than Total (In thousands) Securities sold under agreements to repurchase: U.S. government-sponsored enterprises $ 11,525 $ — $ — $ 10,000 $ 21,525 Mortgage-backed securities 21,255 — — — 21,255 State and political subdivisions 85,428 — — — 85,428 Other securities 19,581 — — — 19,581 Total borrowings $ 137,789 $ — $ — $ 10,000 $ 147,789 December 31, 2016 Overnight and Up to 30 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 (Tables)
FHLB Borrowed Funds (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Banking and Thrift [Abstract] | |
Maturities of Borrowings with Original Maturities | Maturities of borrowings with original maturities exceeding one year at December 31, 2017, are as follows (in thousands): By By Call Date 2018 $ 984,279 $ 984,279 2019 143,070 143,070 2020 146,428 146,428 2021 — — 2022 — — Thereafter 25,411 25,411 $ 1,299,188 $ 1,299,188 |
Subordinated Debentures (Tables
Subordinated Debentures (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Brokers and Dealers [Abstract] | |
Preferred Trust Securities and Subordinated Debentures | Subordinated debentures at December 31, 2017 and 2016 contained the following components: As of December 31, As of 2017 2016 (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 debentures, issued in 2005, due 2035, floating rate of 2.15% above the three-month LIBOR rate, reset quarterly, currently callable without penalty 4,304 — Subordinated debentures, issued in 2006, due 2036, fixed rate of 7.38% during the first five years and at a floating rate of 1.62% above the three-month LIBOR rate, reset quarterly, thereafter, currently callable without penalty 5,569 — 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 297,332 — Total $ 368,031 $ 60,826 |
Income Taxes (Tables)
Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 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 years ended December 31, 2017, 2016 and 2015: Year Ended December 31, 2017 2016 2015 (In thousands) Current: Federal $ 76,569 $ 77,418 $ 61,007 State 25,347 15,377 12,117 Total current 101,916 92,795 73,124 Deferred: Federal 25,607 10,600 5,980 State 8,477 2,105 1,188 Total deferred 34,084 12,705 7,168 Income tax expense $ 136,000 $ 105,500 $ 80,292 |
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 years ended December 31, 2017, 2016 and 2015: Year Ended December 31, 2017 2016 2015 Statutory federal income tax rate 35.00 % 35.00 % 35.00 % Effect of non-taxable (1.57 ) (1.52 ) (1.91 ) Effect of gain on acquisitions (0.49 ) — (0.26 ) Stock compensation (0.67 ) — — State income taxes, net of federal benefit 4.05 4.08 4.02 Effect of tax rate change 13.62 — — Other 0.23 (0.23 ) (0.10 ) Effective income tax rate 50.17 % 37.33 % 36.75 % |
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: December 31, 2017 December 31, 2016 (In thousands) Deferred tax assets: Allowance for loan losses $ 29,515 $ 31,381 Deferred compensation 1,142 3,925 Stock compensation 2,731 669 Real estate owned 1,731 2,296 Unrealized loss on securities available-for-sale 1,471 — Loan discounts 32,784 9,157 Tax basis premium/discount on acquisitions 8,802 14,757 Investments 1,155 1,957 Other 11,663 8,361 Gross deferred tax assets 90,994 72,503 Deferred tax liabilities: Accelerated depreciation on premises and equipment 291 2,154 Unrealized gain on securities available-for-sale — 258 Core deposit intangibles 11,258 4,950 FHLB dividends 1,625 1,926 Other 1,256 1,917 Gross deferred tax liabilities 14,430 11,205 Net deferred tax assets $ 76,564 $ 61,298 |
Common Stock, Compensation Pl46
Common Stock, Compensation Plans and Other (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Equity [Abstract] | |
Summary of Stock Option Transactions under Incentive Plan (Split Adjusted) | The table below summarized the stock option transactions under the Plan at December 31, 2017, 2016 and 2015 and changes during the years then ended: 2017 2016 2015 Shares Weighted- Shares Weighted- Shares Weighted- Outstanding, beginning of year 2,397 $ 15.19 2,794 $ 12.71 1,810 $ 5.90 Granted 80 25.96 140 21.25 1,486 18.15 Forfeited/Expired — — (14 ) 17.28 (40 ) 20.16 Exercised (203 ) 7.82 (523 ) 3.50 (462 ) 2.90 Outstanding, end of year 2,274 16.23 2,397 15.19 2,794 12.71 Exercisable, end of year 1,016 $ 13.55 639 $ 8.88 960 $ 5.13 |
Summary of Stock Options on Valuation Assumptions | The assumptions used in determining the fair value of 2017, 2016 and 2015 stock option grants were as follows: For the Years Ended December 31, 2017 2016 2015 Expected dividend yield 1.39 % 1.65 % 1.60 % Expected stock price volatility 28.47 % 26.66 % 25.91 % Risk-free interest rate 2.06 % 1.65 % 1.74 % Expected life of options 6.5 years 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 December 31, 2017: Options Outstanding Options Exercisable Exercise Prices Options (000) Weighted- Weighted- Options Weighted- $ 2.10 to $ 2.66 17 1.34 $ 2.58 17 $ 2.58 $ 4.27 to $ 4.30 81 0.04 4.27 81 4.27 $ 5.68 to $ 6.56 102 3.56 6.43 102 6.43 $ 8.62 to $ 9.54 279 5.17 9.08 219 9.07 $14.71 to $16.86 262 6.75 16.00 124 16.12 $17.12 to $17.40 203 6.91 17.19 93 17.25 $18.46 to $18.46 1,050 7.65 18.46 329 18.46 $20.16 to $20.58 80 7.76 20.37 27 20.34 $21.25 to $21.25 120 8.31 21.25 24 21.25 $25.96 to $25.96 80 9.30 25.96 — — 2,274 1,016 |
Summary of Company's Restricted Stock Issued and Outstanding (Split Adjusted) | The table below summarizes the activity for the Company’s restricted stock issued and outstanding at December 31, 2017, 2016 and 2015 and changes during the years then ended: 2017 2016 2015 (In thousands) Beginning of year 958 975 514 Issued 232 244 704 Vested (45 ) (256 ) (204 ) Forfeited — (5 ) (39 ) End of year 1,145 958 975 Amount of expense for twelve months ended $ 5,237 $ 4,049 $ 2,511 |
Non-InterestExpense (Tables)
Non-InterestExpense (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Text Block [Abstract] | |
Components of Non-Interest Expense | The table below shows the components of non-interest 2017 2016 2015 (In thousands) Salaries and employee benefits $ 119,369 $ 101,962 $ 87,512 Occupancy and equipment 30,611 26,129 25,967 Data processing expense 11,998 10,499 10,774 Other operating expenses: Advertising 3,203 3,332 2,986 Merger and acquisition expenses 25,743 433 4,800 FDIC loss share buy-out — 3,849 — Amortization of intangibles 4,207 3,132 4,079 Electronic banking expense 6,662 5,742 5,166 Directors’ fees 1,259 1,150 1,071 Due from bank service charges 1,602 1,354 1,096 FDIC and state assessment 5,239 5,491 5,287 Insurance 2,512 2,193 2,542 Legal and accounting 2,993 2,206 2,028 Other professional fees 5,359 4,049 3,226 Operating supplies 1,978 1,758 1,880 Postage 1,184 1,084 1,196 Telephone 1,374 1,751 1,917 Other expense 14,915 15,641 16,028 Total other operating expenses 78,230 53,165 53,302 Total non-interest $ 240,208 $ 191,755 $ 177,555 |
Leases (Tables)
Leases (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Leases [Abstract] | |
Minimum Rental Commitments under Operating Leases | At December 31, 2017, the minimum rental commitments under these noncancelable operating leases are as follows (in thousands): 2018 $ 8,543 2019 7,811 2020 7,167 2021 5,685 2022 4,182 Thereafter 28,799 $ 62,187 |
Financial Instruments (Tables)
Financial Instruments (Tables) | 12 Months Ended |
Dec. 31, 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. December 31, 2017 Carrying Amount Fair Value Level (In thousands) Financial assets: Cash and cash equivalents $ 635,933 $ 635,933 1 Federal funds sold 24,109 24,109 1 Investment securities – held-to-maturity 224,756 227,539 2 Loans receivable, net of impaired loans and allowance 10,148,470 10,055,901 3 Accrued interest receivable 45,708 45,708 1 Financial liabilities: Deposits: Demand and non-interest $ 2,385,252 $ 2,385,252 1 Savings and interest-bearing transaction accounts 6,476,819 6,476,819 1 Time deposits 1,526,431 1,514,670 3 Securities sold under agreements to repurchase 147,789 147,789 1 FHLB and other borrowed funds 1,299,188 1,299,961 2 Accrued interest payable 5,583 5,583 1 Subordinated debentures 368,031 379,146 3 December 31, 2016 Carrying 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 |
Regulatory Matters (Tables)
Regulatory Matters (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Banking and Thrift [Abstract] | |
Summary of Company's Actual Capital Amount and Ratios | The Company’s actual capital amounts and ratios along with the Company’s bank subsidiary are presented in the following table. Actual Minimum Capital Basel III Phase-In Minimum Capital Basel III Fully Phased-In Minimum To Be Well-Capitalized Amount Ratio Amount Ratio Amount Ratio Amount Ratio (Dollars in thousands) As of December 31, 2017 Common equity Tier 1 capital ratios: Home BancShares $ 1,240,822 10.86 % $ 656,973 5.750 % $ 799,793 7.00 % $ N/A N/A % Centennial Bank 1,546,451 13.55 656,243 5.750 798,905 7.00 741,840 6.50 Leverage ratios: Home BancShares $ 1,311,520 9.98 % $ 525,659 4.000 % $ 525,659 4.00 % $ N/A N/A % Centennial Bank 1,546,451 11.76 526,004 4.000 526,004 4.00 657,505 5.00 Tier 1 capital ratios: Home BancShares $ 1,311,520 11.48 % $ 828,268 7.250 % $ 971,073 8.50 % $ N/A N/A % Centennial Bank 1,546,451 13.55 827,437 7.250 970,098 8.50 913,034 8.00 Total risk-based capital ratios: Home BancShares $ 1,719,118 15.05 % $ 1,056,601 9.250 % $ 1,199,385 10.50 % $ N/A N/A % Centennial Bank 1,656,717 14.52 1,055,415 9.250 1,198,039 10.50 1,140,990 10.00 As of December 31, 2016 Common equity Tier 1 capital ratios: Home BancShares $ 938,754 11.30 % $ 425,762 5.125 % $ 581,529 7.00 % $ N/A N/A % Centennial Bank 920,232 11.10 424,882 5.125 580,326 7.00 538,875 6.50 Leverage ratios: Home BancShares $ 997,754 10.63 % $ 375,448 4.000 % $ 375,448 4.00 % $ N/A N/A % Centennial Bank 920,232 9.81 375,222 4.000 375,222 4.00 469,028 5.00 Tier 1 capital ratios: Home BancShares $ 997,754 12.01 % $ 550,385 6.625 % $ 706,154 8.50 % $ N/A N/A % Centennial Bank 920,232 11.10 549,238 6.625 704,682 8.50 663,230 8.00 Total risk-based capital ratios: Home BancShares $ 1,077,756 12.97 % $ 716,704 8.625 % $ 872,509 10.50 % $ N/A N/A % Centennial Bank 1,000,234 12.07 714,749 8.625 870,129 10.50 828,694 10.00 |
Additional Cash Flow Informat51
Additional Cash Flow Information (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Supplemental Cash Flow Elements [Abstract] | |
Summary of Additional Cash Flow Information | The following is summary of the Company’s additional cash flow information during the years ended December 31: 2017 2016 2015 (In thousands) Interest paid $ 61,930 $ 30,463 $ 21,040 Income taxes paid 124,830 81,900 79,740 Assets acquired by foreclosure 10,318 10,957 19,874 |
Condensed Financial Informati52
Condensed Financial Information (Parent Company Only) (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Condensed Financial Information of Parent Company Only Disclosure [Abstract] | |
Schedule of Condensed Balance Sheets | Condensed Balance Sheets December 31, (In thousands) 2017 2016 Assets Cash and cash equivalents $ 44,046 $ 53,589 Investment securities 2,831 7,873 Investments in wholly-owned subsidiaries 2,509,375 1,307,811 Investments in unconsolidated subsidiaries 2,201 1,826 Premises and equipment 7,026 7,126 Other assets 12,530 12,107 Total assets $ 2,578,009 $ 1,390,332 Liabilities Subordinated debentures $ 368,031 $ 60,826 Other liabilities 5,687 2,016 Total liabilities 373,718 62,842 Stockholders’ Equity Common stock 1,736 1,405 Capital surplus 1,675,318 869,737 Retained earnings 530,658 455,948 Accumulated other comprehensive income (loss) (3,421 ) 400 Total stockholders’ equity 2,204,291 1,327,490 Total liabilities and stockholders’ equity $ 2,578,009 $ 1,390,332 |
Schedule of Condensed Statements of Income | Condensed Statements of Income Years Ended December 31, (In thousands) 2017 2016 2015 Income Dividends from banking subsidiary $ 86,695 $ 44,623 $ 76,168 Other income 2,241 608 51 Total income 88,936 45,231 76,219 Expenses 26,634 12,514 8,387 Income before income taxes and equity in undistributed net income of subsidiaries 62,302 32,717 67,832 Tax benefit for income taxes 8,826 4,787 3,048 Income before equity in undistributed net income of subsidiaries 71,128 37,504 70,880 Equity in undistributed net income of subsidiaries 63,955 139,642 67,319 Net income $ 135,083 $ 177,146 $ 138,199 |
Schedule of Condensed Statements of Cash Flows | Condensed Statements of Cash Flows Years Ended December 31, (In thousands) 2017 2016 2015 Cash flows from operating activities Net income $ 135,083 $ 177,146 $ 138,199 Items not requiring (providing) cash Depreciation 213 141 — Amortization/(accretion) 612 176 — Share-based compensation 6,705 6,628 3,925 Tax benefit from stock options exercised — (4,154 ) (605 ) (Gain) loss on assets (2,393 ) (410 ) Equity in undistributed income of subsidiaries (63,955 ) (139,642 ) (67,319 ) Changes in other assets (10,748 ) 5,888 5,308 Changes in other liabilities 14,202 (6,694 ) (576 ) Net cash provided by (used in) operating activities 79,719 39,079 78,932 Cash flows from investing activities Purchases of premises and equipment, net (4,075 ) (7,273 ) (5,927 ) Proceeds from sale of premises and equipment, net 3,957 3,293 — Capital contribution to subsidiary (250,000 ) (24 ) — Purchase of Florida Business BancGroup, Inc. — — (17,445 ) Purchase of Giant Holdings, Inc. (16,591 ) — — Purchase of Bank of Commerce (4,175 ) — — Disposition of RCA Air, LLC 382 — — Purchase of Stonegate Bank (40,649 ) — — Proceeds from sale of investment securities 5,629 2,104 — Purchase of investment securities — — (6,946 ) Net cash provided by (used in) investing activities (305,522 ) (1,900 ) (30,318 ) Cash flows from financing activities Proceeds from exercise of stock options 1,082 1,495 389 Common stock issuance costs – market acquisitions (825 ) — (60 ) Tax benefit from stock options exercised — 4,154 605 Repurchase of common stock (20,825 ) (9,817 ) (2,015 ) Proceeds from issuance of subordinated debt 297,201 — — Dividends paid (60,373 ) (48,096 ) (37,580 ) Net cash provided by (used in) financing activities 216,260 (52,264 ) (38,661 ) Increase (decrease) in cash and cash equivalents (9,543 ) (15,085 ) 9,953 Cash and cash equivalents, beginning of year 53,589 68,674 58,721 Cash and cash equivalents, end of year $ 44,046 $ 53,589 $ 68,674 |
Nature of Operations and Summ53
Nature of Operations and Summary of Significant Accounting Policies - Additional Information (Detail) | Jul. 27, 2016USD ($) | Sep. 30, 2016USD ($) | Dec. 31, 2017USD ($)Segments | Dec. 31, 2016USD ($) | Dec. 31, 2015USD ($) |
Accounting Policy [Line Items] | |||||
Number of Reportable Segments | Segments | 1 | ||||
Non-classified loans and classified loans | $ 2,000,000 | ||||
Impairment of Goodwill | 0 | $ 0 | $ 0 | ||
Covered loans migrated to non-covered loans due to termination of remaining loss-share agreement | $ 57.4 | ||||
Net payment to FDIC as consideration for early termination of loss share agreements | $ 6.6 | ||||
Pre-tax loss on early termination of the loss share agreements | $ (3.8) | ||||
Federal Reserve Bank [Member] | |||||
Accounting Policy [Line Items] | |||||
Required reserve balance | $ 103,200,000 | ||||
Minimum [Member] | |||||
Accounting Policy [Line Items] | |||||
Intangible assets amortization period | 48 months | ||||
Maximum [Member] | |||||
Accounting Policy [Line Items] | |||||
Intangible assets amortization period | 121 months |
Nature of Operations and Summ54
Nature of Operations and Summary of Significant Accounting Policies - Schedule of Estimated Useful Lives for Book Purposes (Detail) | 12 Months Ended |
Dec. 31, 2017 | |
Minimum [Member] | Bank Premises [Member] | |
Property Plant And Equipment Estimated Useful Lives [Line Items] | |
Useful lives | 15 years |
Minimum [Member] | Furniture, Fixtures and Equipment [Member] | |
Property Plant And Equipment Estimated Useful Lives [Line Items] | |
Useful lives | 3 years |
Maximum [Member] | Bank Premises [Member] | |
Property Plant And Equipment Estimated Useful Lives [Line Items] | |
Useful lives | 40 years |
Maximum [Member] | Furniture, Fixtures and Equipment [Member] | |
Property Plant And Equipment Estimated Useful Lives [Line Items] | |
Useful lives | 15 years |
Nature of Operations and Summ55
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 | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Earnings Per Share [Abstract] | |||
Net income | $ 135,083 | $ 177,146 | $ 138,199 |
Average common shares outstanding | 150,806 | 140,418 | 136,615 |
Effect of common stock options | 722 | 295 | 515 |
Diluted common shares outstanding | 151,528 | 140,713 | 137,130 |
Basic earnings per common share | $ 0.90 | $ 1.26 | $ 1.01 |
Diluted earnings per common share | $ 0.89 | $ 1.26 | $ 1.01 |
Business Combinations - Acquisi
Business Combinations - Acquisition of Stonegate Bank - Additional Information (Detail) $ in Thousands | Sep. 26, 2017USD ($)BankingCentersshares | Dec. 31, 2017USD ($) | Dec. 31, 2016USD ($) |
Business Acquisition [Line Items] | |||
Loans purchased | $ 3,460,000 | $ 1,130,000 | |
Amount of discount on purchased loans | $ 146,600 | $ 100,100 | |
Stonegate Bank [Member] | |||
Business Acquisition [Line Items] | |||
Business combination consideration paid | $ 792,370 | ||
Business combination, common stock issued, shares | shares | 30,863,658 | ||
Business combination, common stock issued, value | $ 742,300 | ||
Business combination consideration paid in cash | 50,100 | ||
Business combination, recognized identifiable assets acquired, Total Assets | 2,887,523 | ||
Business acquisition of investment securities | 103,515 | ||
Loans purchased | 2,370,000 | ||
Loan discounts | 73,300 | ||
Amount of discount on purchased loans | 22,600 | ||
Business acquisition of bank premises and equipment | 3,600 | ||
Effective tax rates | 39.225% | ||
Core deposit intangible | 30,869 | ||
Customer deposits assumed pursuant to agreement | 2,525,697 | ||
Stonegate Bank [Member] | Credit Impaired Loans [Member] | |||
Business Acquisition [Line Items] | |||
Loans purchased | 74,300 | ||
Loan discounts | 23,300 | ||
Stonegate Bank [Member] | Fair Value Adjustments [Member] | |||
Business Acquisition [Line Items] | |||
Business combination, recognized identifiable assets acquired, Total Assets | (105,302) | ||
Business acquisition of investment securities | 474 | ||
Core deposit intangible | 20,364 | ||
Customer deposits assumed pursuant to agreement | $ (85) | ||
Stonegate Bank [Member] | Shareholders [Member] | |||
Business Acquisition [Line Items] | |||
Business acquisition date | Sep. 26, 2017 | ||
Business combination consideration paid | $ 792,400 | ||
Business combination, common stock issued, shares | shares | 30,863,658 | ||
Business combination, common stock issued, value | $ 742,300 | ||
Business combination consideration paid in cash | 50,100 | ||
Stonegate Bank [Member] | Optionholders [Member] | |||
Business Acquisition [Line Items] | |||
Business combination consideration paid | 820,000 | ||
Business combination consideration paid in cash | 27,600 | ||
Stonegate Bank [Member] | Florida [Member] | |||
Business Acquisition [Line Items] | |||
Business combination, recognized identifiable assets acquired, Total Assets | 2,890,000 | ||
Business combination, recognized identifiable liabilities assumed, Loans | 2,370,000 | ||
Business combination, recognized identifiable assets acquired, Deposits | $ 2,530,000 | ||
Number of banking locations | BankingCenters | 24 |
Business Combinations - Breakdo
Business Combinations - Breakdown of Assets Acquired and Liabilities Assumed (Detail) - USD ($) | Sep. 26, 2017 | Feb. 28, 2017 | Feb. 23, 2017 | Oct. 01, 2015 | Feb. 27, 2015 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 |
Assets | ||||||||
Goodwill | $ 927,949,000 | $ 377,983,000 | $ 377,983,000 | |||||
Equity | ||||||||
Goodwill | 927,949,000 | 377,983,000 | 377,983,000 | |||||
Goodwill | $ 927,949,000 | $ 377,983,000 | $ 377,983,000 | |||||
Stonegate Bank [Member] | ||||||||
Assets | ||||||||
Cash and due from banks | $ 100,958,000 | |||||||
Interest-bearing deposits with other banks | 135,631,000 | |||||||
Federal funds sold | 1,515,000 | |||||||
Investment securities | 103,515,000 | |||||||
Loans receivable | 2,372,082,000 | |||||||
Loans receivable, net | 2,372,082,000 | |||||||
Bank premises and equipment, net | 35,296,000 | |||||||
Foreclosed assets held for sale | 3,386,000 | |||||||
Cash value of life insurance | 48,000,000 | |||||||
Accrued interest receivable | 7,088,000 | |||||||
Deferred tax asset, net | 39,330,000 | |||||||
Goodwill | 507,008,000 | |||||||
Core deposit and other intangibles | 30,869,000 | |||||||
Other assets | 9,853,000 | |||||||
Total assets acquired | 2,887,523,000 | |||||||
Deposits | ||||||||
Demand and non-interest-bearing | 585,959,000 | |||||||
Savings and interest-bearing transaction accounts | 1,776,256,000 | |||||||
Time deposits | 163,482,000 | |||||||
Total deposits | 2,525,697,000 | |||||||
FHLB borrowed funds | 32,851,000 | |||||||
Securities sold under agreements to repurchase | 26,163,000 | |||||||
Accrued interest payable and other liabilities | 7,616,000 | |||||||
Subordinated debentures | 9,834,000 | |||||||
Total liabilities assumed | 2,602,161,000 | |||||||
Equity | ||||||||
Total liabilities and equity assumed | 2,602,161,000 | |||||||
Net assets acquired | 285,362,000 | |||||||
Purchase price | 792,370,000 | |||||||
Goodwill | 507,008,000 | |||||||
Goodwill | 507,008,000 | |||||||
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, net | 4,093,000 | |||||||
Goodwill | 42,958,000 | |||||||
Core deposit and other intangibles | 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 | |||||||
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, net | 4,198,000 | |||||||
Core deposit and other intangibles | 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 | |||||||
Florida Business BancGroup Inc. [Member] | ||||||||
Assets | ||||||||
Cash and due from banks | $ 23,597,000 | |||||||
Investment securities | 61,995,000 | |||||||
Loans receivable | 408,267,000 | |||||||
Loans receivable, net | 408,267,000 | |||||||
Bank premises and equipment, net | 5,225,000 | |||||||
Foreclosed assets held for sale | 162,000 | |||||||
Cash value of life insurance | 9,540,000 | |||||||
Accrued interest receivable | 1,442,000 | |||||||
Deferred tax asset, net | 11,678,000 | |||||||
Goodwill | 55,255,000 | |||||||
Core deposit and other intangibles | 3,477,000 | |||||||
Other assets | 4,179,000 | |||||||
Total assets acquired | 529,562,000 | |||||||
Deposits | ||||||||
Demand and non-interest-bearing | 150,625,000 | |||||||
Savings and interest-bearing transaction accounts | 166,990,000 | |||||||
Time deposits | 154,357,000 | |||||||
Total deposits | 471,972,000 | |||||||
FHLB borrowed funds | 5,802,000 | |||||||
Accrued interest payable and other liabilities | 2,889,000 | |||||||
Total liabilities assumed | 480,663,000 | |||||||
Equity | ||||||||
Total liabilities and equity assumed | 480,663,000 | |||||||
Net assets acquired | 48,899,000 | |||||||
Purchase price | 104,154,000 | |||||||
Goodwill | 55,255,000 | |||||||
Goodwill | 55,255,000 | |||||||
Doral Bank's Florida [Member] | ||||||||
Assets | ||||||||
Cash and due from banks | $ 1,688,000 | |||||||
Loans receivable | 37,944,000 | |||||||
Loans receivable, net | 37,944,000 | |||||||
Core deposit and other intangibles | 1,363,000 | |||||||
Total assets acquired | 40,995,000 | |||||||
Deposits | ||||||||
Demand and non-interest-bearing | 3,130,000 | |||||||
Savings and interest-bearing transaction accounts | 119,865,000 | |||||||
Time deposits | 344,579,000 | |||||||
Total deposits | 467,574,000 | |||||||
Total liabilities assumed | 467,574,000 | |||||||
Equity | ||||||||
Net assets acquired | (426,579,000) | |||||||
Cash settlement received | (428,214,000) | |||||||
Pre-tax gain on acquisition | 1,635,000 | |||||||
Acquired from Acquisition [Member] | Stonegate Bank [Member] | ||||||||
Assets | ||||||||
Cash and due from banks | 100,958,000 | |||||||
Interest-bearing deposits with other banks | 135,631,000 | |||||||
Federal funds sold | 1,515,000 | |||||||
Investment securities | 103,041,000 | |||||||
Loans receivable | 2,446,149,000 | |||||||
Allowance for loan losses | (21,507,000) | |||||||
Loans receivable, net | 2,424,642,000 | |||||||
Bank premises and equipment, net | 38,868,000 | |||||||
Foreclosed assets held for sale | 4,187,000 | |||||||
Cash value of life insurance | 48,000,000 | |||||||
Accrued interest receivable | 7,088,000 | |||||||
Deferred tax asset, net | 27,340,000 | |||||||
Goodwill | 81,452,000 | |||||||
Core deposit and other intangibles | 10,505,000 | |||||||
Other assets | 9,598,000 | |||||||
Total assets acquired | 2,992,825,000 | |||||||
Deposits | ||||||||
Demand and non-interest-bearing | 585,959,000 | |||||||
Savings and interest-bearing transaction accounts | 1,776,256,000 | |||||||
Time deposits | 163,567,000 | |||||||
Total deposits | 2,525,782,000 | |||||||
FHLB borrowed funds | 32,667,000 | |||||||
Securities sold under agreements to repurchase | 26,163,000 | |||||||
Accrued interest payable and other liabilities | 8,100,000 | |||||||
Subordinated debentures | 8,345,000 | |||||||
Total liabilities assumed | 2,601,057,000 | |||||||
Equity | ||||||||
Total equity assumed | 391,768,000 | |||||||
Total liabilities and equity assumed | 2,992,825,000 | |||||||
Goodwill | 81,452,000 | |||||||
Goodwill | 81,452,000 | |||||||
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, net | 2,286,000 | |||||||
Core deposit and other intangibles | 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 | |||||||
Acquired from Acquisition [Member] | Florida Business BancGroup Inc. [Member] | ||||||||
Assets | ||||||||
Cash and due from banks | 23,597,000 | |||||||
Investment securities | 61,384,000 | |||||||
Loans receivable | 422,363,000 | |||||||
Allowance for loan losses | (5,714,000) | |||||||
Loans receivable, net | 416,649,000 | |||||||
Bank premises and equipment, net | 6,922,000 | |||||||
Foreclosed assets held for sale | 205,000 | |||||||
Cash value of life insurance | 9,540,000 | |||||||
Accrued interest receivable | 1,442,000 | |||||||
Deferred tax asset, net | 10,608,000 | |||||||
Other assets | 1,289,000 | |||||||
Total assets acquired | 531,636,000 | |||||||
Deposits | ||||||||
Demand and non-interest-bearing | 150,625,000 | |||||||
Savings and interest-bearing transaction accounts | 166,990,000 | |||||||
Time deposits | 153,230,000 | |||||||
Total deposits | 470,845,000 | |||||||
FHLB borrowed funds | 5,000,000 | |||||||
Accrued interest payable and other liabilities | 3,208,000 | |||||||
Total liabilities assumed | 479,053,000 | |||||||
Equity | ||||||||
Total equity assumed | 52,583,000 | |||||||
Total liabilities and equity assumed | 531,636,000 | |||||||
Acquired from Acquisition [Member] | Doral Bank's Florida [Member] | ||||||||
Assets | ||||||||
Cash and due from banks | 1,688,000 | |||||||
Loans receivable | 42,244,000 | |||||||
Loans receivable, net | 42,244,000 | |||||||
Total assets acquired | 43,932,000 | |||||||
Deposits | ||||||||
Demand and non-interest-bearing | 3,130,000 | |||||||
Savings and interest-bearing transaction accounts | 119,865,000 | |||||||
Time deposits | 343,271,000 | |||||||
Total deposits | 466,266,000 | |||||||
Total liabilities assumed | 466,266,000 | |||||||
Fair Value Adjustments [Member] | Stonegate Bank [Member] | ||||||||
Assets | ||||||||
Investment securities | 474,000 | |||||||
Loans receivable | (74,067,000) | |||||||
Allowance for loan losses | 21,507,000 | |||||||
Loans receivable, net | (52,560,000) | |||||||
Bank premises and equipment, net | (3,572,000) | |||||||
Foreclosed assets held for sale | (801,000) | |||||||
Deferred tax asset, net | 11,990,000 | |||||||
Goodwill | (81,452,000) | |||||||
Core deposit and other intangibles | 20,364,000 | |||||||
Other assets | 255,000 | |||||||
Total assets acquired | (105,302,000) | |||||||
Deposits | ||||||||
Time deposits | (85,000) | |||||||
Total deposits | (85,000) | |||||||
FHLB borrowed funds | 184,000 | |||||||
Accrued interest payable and other liabilities | (484,000) | |||||||
Subordinated debentures | 1,489,000 | |||||||
Total liabilities assumed | 1,104,000 | |||||||
Equity | ||||||||
Total equity assumed | (391,768,000) | |||||||
Total liabilities and equity assumed | (390,664,000) | |||||||
Goodwill | (81,452,000) | |||||||
Goodwill | $ (81,452,000) | |||||||
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, net | 1,807,000 | |||||||
Core deposit and other intangibles | 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, net | 4,198,000 | |||||||
Core deposit and other intangibles | 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 | |||||||
Fair Value Adjustments [Member] | Florida Business BancGroup Inc. [Member] | ||||||||
Assets | ||||||||
Cash and due from banks | (20,320,000) | |||||||
Investment securities | 611,000 | |||||||
Loans receivable | (14,096,000) | |||||||
Allowance for loan losses | 5,714,000 | |||||||
Loans receivable, net | (8,382,000) | |||||||
Bank premises and equipment, net | (1,697,000) | |||||||
Foreclosed assets held for sale | (43,000) | |||||||
Deferred tax asset, net | 1,070,000 | |||||||
Goodwill | 55,300,000 | |||||||
Core deposit and other intangibles | 3,477,000 | |||||||
Other assets | 2,890,000 | |||||||
Total assets acquired | (2,074,000) | |||||||
Deposits | ||||||||
Time deposits | 1,127,000 | |||||||
Total deposits | 1,127,000 | |||||||
FHLB borrowed funds | 802,000 | |||||||
Accrued interest payable and other liabilities | (319,000) | |||||||
Total liabilities assumed | 1,610,000 | |||||||
Equity | ||||||||
Total equity assumed | (52,583,000) | |||||||
Total liabilities and equity assumed | (50,973,000) | |||||||
Goodwill | 55,300,000 | |||||||
Goodwill | $ 55,300,000 | |||||||
Fair Value Adjustments [Member] | Doral Bank's Florida [Member] | ||||||||
Assets | ||||||||
Loans receivable | (4,300,000) | |||||||
Loans receivable, net | (4,300,000) | |||||||
Core deposit and other intangibles | 1,363,000 | |||||||
Total assets acquired | (2,937,000) | |||||||
Deposits | ||||||||
Time deposits | 1,308,000 | |||||||
Total deposits | 1,308,000 | |||||||
Total liabilities assumed | $ 1,308,000 |
Business Combinations - Schedul
Business Combinations - Schedule of Unaudited Pro Forma Combined Financial Information (Detail) - Stonegate Bank [Member] - USD ($) $ / shares in Units, $ in Thousands | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Business Acquisition [Line Items] | ||
Total interest income | $ 610,697 | $ 538,258 |
Total non-interest income | 107,179 | 95,555 |
Net income available to all shareholders | $ 143,979 | $ 206,081 |
Basic earnings per common share | $ 0.79 | $ 1.20 |
Diluted earnings per common share | $ 0.79 | $ 1.20 |
Business Combinations - Acqui59
Business Combinations - Acquisition of The Bank of Commerce - Additional Information (Detail) | Feb. 28, 2017USD ($)BankingCenters | Sep. 30, 2017 | Dec. 31, 2017USD ($) | Dec. 31, 2016USD ($) |
Business Acquisition [Line Items] | ||||
Loans purchased | $ 3,460,000,000 | $ 1,130,000,000 | ||
The Bank of Commerce [Member] | ||||
Business Acquisition [Line Items] | ||||
Business acquisition date | Feb. 28, 2017 | |||
Cash paid for acquisition | $ 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 | |||
Maximum [Member] | The Bank of Commerce [Member] | ||||
Business Acquisition [Line Items] | ||||
Percentage of total assets | 5.00% | |||
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 |
Business Combinations - Acqui60
Business Combinations - Acquisition of Giant Holdings, Inc. - Additional Information (Detail) | Feb. 23, 2017USD ($)BankingCentersshares | Sep. 30, 2017 | Dec. 31, 2017USD ($) | Dec. 31, 2016USD ($) |
Business Acquisition [Line Items] | ||||
Loans purchased | $ 3,460,000,000 | $ 1,130,000,000 | ||
Amount of discount on purchased loans | $ 146,600,000 | $ 100,100,000 | ||
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 - Acqui61
Business Combinations - Acquisition of Florida Business BancGroup, Inc. - Additional Information (Detail) $ in Thousands | Oct. 01, 2015USD ($)BankingCentersLawsuitsshares | Aug. 31, 2017USD ($) | Dec. 31, 2016USD ($) | Dec. 31, 2015USD ($) | Dec. 31, 2017USD ($) |
Business Acquisition [Line Items] | |||||
Loans purchased | $ 1,130,000 | $ 3,460,000 | |||
Goodwill | $ 377,983 | $ 377,983 | $ 927,949 | ||
Florida Business BancGroup Inc. [Member] | |||||
Business Acquisition [Line Items] | |||||
Business acquisition date | Oct. 1, 2015 | ||||
Business combination cash consideration placed in escrows | $ 2,000 | ||||
Escrow funds release period | 2 years | ||||
Number of class action law suits | Lawsuits | 2 | ||||
Business combination consideration paid | $ 104,154 | ||||
Business combination, common stock issued, shares (split adjusted) | shares | 4,159,708 | ||||
Business combination, common stock issued, value | $ 83,800 | ||||
Business combination consideration paid in cash | 20,300 | ||||
Loan discounts | 7,000 | ||||
Business combination, recognized identifiable assets acquired, Total Assets | 529,562 | ||||
Cash and due from banks | 23,597 | ||||
Business acquisition of investment securities | 61,995 | ||||
Loans purchased | 390,900 | ||||
Business acquisition of bank premises and equipment | 1,700 | ||||
Effective tax rates | 39.225% | ||||
Goodwill | 55,255 | ||||
Core deposit intangible | 3,477 | ||||
Customer deposits assumed pursuant to agreement | 471,972 | ||||
Florida Business BancGroup Inc. [Member] | Representative Compensation Expense [Member] | |||||
Business Acquisition [Line Items] | |||||
Compensation paid | $ 10 | ||||
Florida Business BancGroup Inc. [Member] | Maximum [Member] | |||||
Business Acquisition [Line Items] | |||||
Percentage of total assets | 5.00% | ||||
Florida Business BancGroup Inc. [Member] | Credit Impaired Loans [Member] | |||||
Business Acquisition [Line Items] | |||||
Loan discounts | 7,100 | ||||
Loans purchased | 31,500 | ||||
Florida Business BancGroup Inc. [Member] | Fair Value Adjustments [Member] | |||||
Business Acquisition [Line Items] | |||||
Business combination, recognized identifiable assets acquired, Total Assets | (2,074) | ||||
Cash and due from banks | (20,320) | ||||
Business acquisition of investment securities | 611 | ||||
Goodwill | 55,300 | ||||
Core deposit intangible | 3,477 | ||||
Customer deposits assumed pursuant to agreement | 1,127 | ||||
Florida Business BancGroup Inc. [Member] | Florida [Member] | |||||
Business Acquisition [Line Items] | |||||
Loan discounts | 14,100 | ||||
Business combination, recognized identifiable assets acquired, Total Assets | 529,600 | ||||
Business combination, recognized identifiable liabilities assumed, Loans | 408,300 | ||||
Business combination, recognized identifiable assets acquired, Deposits | $ 472,000 | ||||
Number of banking locations | BankingCenters | 6 |
Business Combinations - Acqui62
Business Combinations - Acquisition of Pool of National Commercial Real Estate Loans - Additional Information (Detail) - AM PR LLC [Member] - Commercial Real Estate [Member] $ in Millions | Apr. 01, 2015USD ($) |
Business Acquisition [Line Items] | |
Loans on acquisition date | $ 289.1 |
Acquired loans, percentage | 99.00% |
Business Combinations - Acqui63
Business Combinations - Acquisition of Doral Bank's Florida Panhandle Operations - Additional Information (Detail) - USD ($) | Feb. 27, 2015 | Dec. 31, 2017 | Dec. 31, 2016 |
Business Acquisition [Line Items] | |||
Loans purchased | $ 3,460,000,000 | $ 1,130,000,000 | |
Doral Florida Acquisition [Member] | |||
Business Acquisition [Line Items] | |||
Loan discounts | $ 37,900,000 | 3,400,000 | |
Deposits on acquisition date | 467,600,000 | ||
Cash and due from banks | 428,200,000 | ||
Loans purchased | 36,900,000 | ||
Core deposit intangible | $ 1,400,000 | ||
Doral Florida Acquisition [Member] | Credit Impaired Loans [Member] | |||
Business Acquisition [Line Items] | |||
Loan discounts | 950,000 | ||
Loans purchased | $ 5,300,000 | ||
Maximum [Member] | Doral Florida Acquisition [Member] | |||
Business Acquisition [Line Items] | |||
Percentage of total assets | 1.00% | ||
Fair Value Adjustments [Member] | Doral Florida Acquisition [Member] | |||
Business Acquisition [Line Items] | |||
Customer deposits assumed pursuant to agreement | $ 1,300,000 |
Investment Securities - Amortiz
Investment Securities - Amortized Cost and Estimated Fair Value of Investment Securities Classified as Available-for-Sale (Detail) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | $ 1,669,147 | $ 1,072,262 |
Gross Unrealized Gains | 6,777 | 9,108 |
Gross Unrealized (Losses) | (12,407) | (8,450) |
Estimated Fair Value | 1,663,517 | 1,072,920 |
U.S. Government-Sponsored Enterprises [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 407,387 | 237,439 |
Gross Unrealized Gains | 899 | 963 |
Gross Unrealized (Losses) | (1,982) | (1,641) |
Estimated Fair Value | 406,304 | 236,761 |
Residential Mortgage-Backed Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 481,981 | 259,037 |
Gross Unrealized Gains | 538 | 1,226 |
Gross Unrealized (Losses) | (4,919) | (1,627) |
Estimated Fair Value | 477,600 | 258,636 |
Commercial Mortgage-Backed Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 497,870 | 322,316 |
Gross Unrealized Gains | 332 | 845 |
Gross Unrealized (Losses) | (4,430) | (2,342) |
Estimated Fair Value | 493,772 | 320,819 |
State and Political Subdivisions [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 247,292 | 215,209 |
Gross Unrealized Gains | 3,783 | 3,471 |
Gross Unrealized (Losses) | (774) | (2,181) |
Estimated Fair Value | 250,301 | 216,499 |
Other Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 34,617 | 38,261 |
Gross Unrealized Gains | 1,225 | 2,603 |
Gross Unrealized (Losses) | (302) | (659) |
Estimated Fair Value | $ 35,540 | $ 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 | Dec. 31, 2017 | Dec. 31, 2016 |
Schedule of Held-to-maturity Securities [Line Items] | ||
Estimated Fair Value | $ 224,756 | $ 284,176 |
Held-to-Maturity [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Amortized Cost | 224,756 | 284,176 |
Gross Unrealized Gains | 3,267 | 3,497 |
Gross Unrealized (Losses) | (484) | (635) |
Estimated Fair Value | 227,539 | 287,038 |
U.S. Government-Sponsored Enterprises [Member] | Held-to-Maturity [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Amortized Cost | 5,791 | 6,637 |
Gross Unrealized Gains | 15 | 23 |
Gross Unrealized (Losses) | (15) | (32) |
Estimated Fair Value | 5,791 | 6,628 |
Residential Mortgage-Backed Securities [Member] | Held-to-Maturity [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Amortized Cost | 56,982 | 71,956 |
Gross Unrealized Gains | 107 | 267 |
Gross Unrealized (Losses) | (402) | (301) |
Estimated Fair Value | 56,687 | 71,922 |
Commercial Mortgage-Backed Securities [Member] | Held-to-Maturity [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Amortized Cost | 16,625 | 35,863 |
Gross Unrealized Gains | 114 | 107 |
Gross Unrealized (Losses) | (40) | (133) |
Estimated Fair Value | 16,699 | 35,837 |
State and Political Subdivisions [Member] | Held-to-Maturity [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Amortized Cost | 145,358 | 169,720 |
Gross Unrealized Gains | 3,031 | 3,100 |
Gross Unrealized (Losses) | (27) | (169) |
Estimated Fair Value | $ 148,362 | $ 172,651 |
Investment Securities - Additio
Investment Securities - Additional Information (Detail) - USD ($) | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Available-for-sale Securities [Abstract] | |||
Carrying value of investment securities | $ 1,180,000,000 | $ 1,070,000,000 | |
Investment securities pledged as collateral | 147,800,000 | 121,300,000 | |
Available for sale securities sold | 30,600,000 | 87,200,000 | $ 4,000,000 |
Gross realized gains on sale | 2,300,000 | 795,000 | 4,000 |
Gross realized losses on sales | $ 127,000,000 | $ 126,000 | $ 0 |
Income tax expense benefit to net security gains and losses | 39.225% | 39.225% | 39.225% |
Held-to-maturity securities sold | $ 483,000,000 | $ 0 | $ 0 |
Gross realized loss on sale of held-to-maturity | 7,000 | ||
Fair value of unrealized losses | $ 5,273,000 | $ 1,619,000 | |
Percentage of Company's investment portfolio | 76.60% | 78.50% | |
Maturity description of investment portfolio | Five years or less | Five years or less |
Investment Securities - Amort67
Investment Securities - Amortized Cost and Estimated Fair Value of Securities Contractual Maturity (Detail) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Available-for-Sale Securities, Amortized Cost | ||
Due in one year or less, Amortized Cost | $ 366,341 | |
Due after one year through five years, Amortized Cost | 922,178 | |
Due after five years through ten years, Amortized Cost | 286,130 | |
Due after ten years, Amortized Cost | 94,498 | |
Total, Amortized Cost | 1,669,147 | |
Available-for-Sale Securities, Estimated Fair Value | ||
Due in one year or less, Estimated Fair Value | 365,526 | |
Due after one year through five years, Estimated Fair Value | 918,743 | |
Due after five years through ten years, Estimated Fair Value | 284,935 | |
Due after ten years, Estimated Fair Value | 94,313 | |
Total, Estimated Fair Value | 1,663,517 | $ 1,072,920 |
Held-to-Maturity Securities, Amortized Cost | ||
Due in one year or less, Held to Maturity Amortized Cost | 72,364 | |
Due after one year through five years, Held to Maturity Amortized Cost | 89,265 | |
Due after five years through ten years, Held to Maturity Amortized Cost | 12,422 | |
Due after ten years, Held to Maturity Amortized Cost | 50,705 | |
Total, Held to Maturity Amortized Cost | 224,756 | $ 284,176 |
Held-to-Maturity Securities, Estimated Fair Value | ||
Due in one year or less, Held to Maturity Estimated Fair Value | 74,079 | |
Due after one year through five years, Held to Maturity Estimated Fair Value | 90,262 | |
Due after five years through ten years, Held to Maturity Estimated Fair Value | 12,488 | |
Due after ten years, Held to Maturity Estimated Fair Value | 50,710 | |
Total, Held to Maturity Estimated Fair Value | $ 227,539 |
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 | Dec. 31, 2017 | Dec. 31, 2016 |
Schedule of Available-for-sale Securities [Line Items] | ||
Fair Value of Available-for-Sale Securities, Less Than 12 Months | $ 979,354 | $ 584,435 |
Unrealized Losses of Available-for-Sale Securities, Less Than 12 Months | (7,618) | (7,466) |
Fair Value of Available-for-Sale Securities, 12 Months or More | 291,308 | 118,153 |
Unrealized Losses of Available-for-Sale Securities, 12 Months or More | (5,273) | (1,619) |
Fair Value of Available-for-Sale Securities, Total | 1,270,662 | 702,588 |
Unrealized Losses of Available-for-Sale Securities, Total | (12,891) | (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 | 234,213 | 98,180 |
Unrealized Losses of Available-for-Sale Securities, Less Than 12 Months | (1,288) | (1,031) |
Fair Value of Available-for-Sale Securities, 12 Months or More | 40,122 | 75,044 |
Unrealized Losses of Available-for-Sale Securities, 12 Months or More | (709) | (642) |
Fair Value of Available-for-Sale Securities, Total | 274,335 | 173,224 |
Unrealized Losses of Available-for-Sale Securities, Total | (1,997) | (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 | 389,541 | 188,117 |
Unrealized Losses of Available-for-Sale Securities, Less Than 12 Months | (3,656) | (1,742) |
Fair Value of Available-for-Sale Securities, 12 Months or More | 99,989 | 8,902 |
Unrealized Losses of Available-for-Sale Securities, 12 Months or More | (1,665) | (186) |
Fair Value of Available-for-Sale Securities, Total | 489,530 | 197,019 |
Unrealized Losses of Available-for-Sale Securities, Total | (5,321) | (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 | 314,301 | 202,289 |
Unrealized Losses of Available-for-Sale Securities, Less Than 12 Months | (2,343) | (2,220) |
Fair Value of Available-for-Sale Securities, 12 Months or More | 120,365 | 21,020 |
Unrealized Losses of Available-for-Sale Securities, 12 Months or More | (2,127) | (255) |
Fair Value of Available-for-Sale Securities, Total | 434,666 | 223,309 |
Unrealized Losses of Available-for-Sale Securities, Total | (4,470) | (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 | 41,299 | 94,309 |
Unrealized Losses of Available-for-Sale Securities, Less Than 12 Months | (331) | (2,348) |
Fair Value of Available-for-Sale Securities, 12 Months or More | 20,980 | 500 |
Unrealized Losses of Available-for-Sale Securities, 12 Months or More | (470) | (2) |
Fair Value of Available-for-Sale Securities, Total | 62,279 | 94,809 |
Unrealized Losses of Available-for-Sale Securities, Total | (801) | (2,350) |
Other Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Fair Value of Available-for-Sale Securities, Less Than 12 Months | 1,540 | |
Unrealized Losses of Available-for-Sale Securities, Less Than 12 Months | (125) | |
Fair Value of Available-for-Sale Securities, 12 Months or More | 9,852 | 12,687 |
Unrealized Losses of Available-for-Sale Securities, 12 Months or More | (302) | (534) |
Fair Value of Available-for-Sale Securities, Total | 9,852 | 14,227 |
Unrealized Losses of Available-for-Sale Securities, Total | $ (302) | $ (659) |
Investment Securities - Sched69
Investment Securities - Schedule of Income Earned on Securities (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Investment Income [Line Items] | |||
Income earned on securities, taxable | $ 26,776 | $ 21,246 | $ 21,695 |
Income earned on securities, Non-taxable | 11,967 | 11,417 | 11,194 |
Income earned on securities, total | 38,743 | 32,663 | 32,889 |
Available-for-sale [Member] | |||
Investment Income [Line Items] | |||
Income earned on securities, taxable | 24,231 | 17,880 | 17,881 |
Income earned on securities, Non-taxable | 6,441 | 6,238 | 5,767 |
Held-to-Maturity [Member] | |||
Investment Income [Line Items] | |||
Income earned on securities, taxable | 2,545 | 3,366 | 3,814 |
Income earned on securities, Non-taxable | $ 5,526 | $ 5,179 | $ 5,427 |
Loans Receivable - Summary of V
Loans Receivable - Summary of Various Categories of Loans Receivable (Detail) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable | $ 10,331,188 | $ 7,387,699 |
Multifamily Residential [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable | 441,303 | 340,926 |
Commercial Real Estate Non Farm Nonresidential [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable | 4,600,117 | 3,153,121 |
Commercial Real Estate Construction Land Development Loan [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable | 1,700,491 | 1,135,843 |
Agricultural [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable | 82,229 | 77,736 |
Residential 1-4 Family [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable | 1,970,311 | 1,356,136 |
Residential and Commercial Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable | 8,794,451 | 6,063,762 |
Agricultural [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable | 49,815 | 74,673 |
Other [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable | 143,377 | 84,306 |
Consumer [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable | 46,148 | 41,745 |
Commercial and Industrial [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable | $ 1,297,397 | $ 1,123,213 |
Loans Receivable - Additional I
Loans Receivable - Additional Information (Detail) - USD ($) | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Mortgage loans held for sale | $ 44,300,000 | $ 56,200,000 | |
Purchased loans | 3,460,000,000 | 1,130,000,000 | |
Amount of discount for credit losses on purchased loans | 146,600,000 | 100,100,000 | |
Non-accretable discount for credit losses on purchased loans | 51,900,000 | 35,300,000 | |
Accretable discount for credit losses on purchased loans | 94,700,000 | 64,900,000 | |
SBA Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans sold during period | 12,900,000 | 16,800,000 | $ 7,700,000 |
Gain on sale of guaranteed portion of loans | $ 738,000 | $ 1,100,000 | $ 541,000 |
Allowance for Loan Losses, Cr72
Allowance for Loan Losses, Credit Quality and Other - Additional Information (Detail) | 12 Months Ended | ||
Dec. 31, 2017USD ($)Rating | Dec. 31, 2016USD ($) | Dec. 31, 2015USD ($) | |
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Non-accruing loans | $ 34,000,000 | $ 47,200,000 | |
Interest recognized on impaired loans | $ 2,365,000 | $ 2,256,000 | $ 2,077,000 |
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 | $ 5,600,000 | ||
Adjustment to yield over the weighted average life of the loans | 3,016,000 | ||
Hurricane Irma [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Credit impact and damage to legacy loans receivable | 2,410,000,000 | ||
Storm-related provision for loan losses | 32,900,000 | ||
Charge-offs against storm-related provision for loan losses | $ 2,200,000 | ||
Hurricane Irma [Member] | Florida Key Loans Receivable Balances [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Percentage of calculated allocation on storm-related provision for loan losses | 5.00% | ||
Hurricane Irma [Member] | Specific Large Loans Located In Path Of Hurricane On Mainland Of Florida [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Percentage of calculated allocation on storm-related provision for loan losses | 5.00% | ||
Hurricane Irma [Member] | Balances In Remaining Counties Within FEMA-Designated Disaster Areas [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Percentage of calculated allocation on storm-related provision for loan losses | 0.75% |
Allowance for Loan Losses, Cr73
Allowance for Loan Losses, Credit Quality and Other - Summary of Changes in Allowance for Loan Losses (Detail) $ in Thousands | 12 Months Ended |
Dec. 31, 2017USD ($) | |
Receivables [Abstract] | |
Beginning balance | $ 80,002 |
Loans charged off | (17,471) |
Recoveries of loans previously charged off | 3,485 |
Net loans recovered (charged off) | (13,986) |
Provision for loan losses | 44,250 |
Ending balance | $ 110,266 |
Allowance for Loan Losses, Cr74
Allowance for Loan Losses, Credit Quality and Other - Balance of Allowance for Loan Losses (Detail) - USD ($) $ in Thousands | 12 Months Ended | |||||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Beginning balance | $ 80,002 | |||||
Loans charged off | (17,471) | |||||
Recoveries of loans previously charged off | 3,485 | |||||
Net loans recovered (charged off) | (13,986) | |||||
Provision for loan losses | 44,250 | |||||
Ending balance | 110,266 | $ 80,002 | ||||
Loans individually evaluated for impairment | $ 0 | $ 0 | $ 0 | |||
Purchased credit impaired loans | 146,600 | 100,100 | ||||
Allowance for loan losses | 80,002 | 80,002 | 110,266 | 80,002 | ||
Loans evaluated for impairment, ending balance | 10,133,136 | 7,228,135 | ||||
Purchased credit impaired loans | 198,052 | 159,564 | ||||
Total Loans Receivable | 10,331,188 | 7,387,699 | ||||
Commercial and Industrial [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans evaluated for impairment, ending balance | 1,283,028 | 1,111,764 | ||||
Total Loans Receivable | 1,297,397 | 1,123,213 | ||||
Loans Receivable [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Total Loans Receivable | 7,387,699 | 10,331,188 | ||||
Loans Receivable [Member] | Allowance for Loan Losses [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Beginning balance | 80,002 | 69,224 | $ 55,011 | |||
Loans charged off | (17,471) | (17,501) | (15,952) | |||
Recoveries of loans previously charged off | 3,485 | 9,671 | 3,542 | |||
Net loans recovered (charged off) | (13,986) | (7,830) | (12,410) | |||
Provision for loan losses | 44,250 | 18,608 | 25,164 | |||
Increase in FDIC indemnification asset | 1,459 | |||||
Ending balance | 110,266 | 80,002 | 69,224 | |||
Loans individually evaluated for impairment | 3,184 | 1,629 | 4,371 | |||
Loans collectively evaluated for impairment | 105,571 | 76,503 | 62,049 | |||
Loans evaluated for impairment, ending balance | 108,755 | 78,132 | 66,420 | |||
Purchased credit impaired loans | 1,511 | 1,870 | 2,804 | |||
Allowance for loan losses | 80,002 | 69,224 | 55,011 | 110,266 | 80,002 | 69,224 |
Loans Receivable [Member] | Loans Receivable [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans individually evaluated for impairment | 193,782 | 149,253 | 102,656 | |||
Loans collectively evaluated for impairment | 9,939,354 | 7,078,882 | 6,284,924 | |||
Loans evaluated for impairment, ending balance | 10,133,136 | 7,228,135 | 6,387,580 | |||
Purchased credit impaired loans | 198,052 | 159,564 | 253,991 | |||
Total Loans Receivable | 10,331,188 | 7,387,699 | 6,641,571 | |||
Loans Receivable [Member] | Residential Real Estate Loans [Member] | Allowance for Loan Losses [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Beginning balance | 16,517 | 14,818 | 14,607 | |||
Loans charged off | (3,980) | (5,597) | (4,717) | |||
Recoveries of loans previously charged off | 676 | 1,152 | 915 | |||
Net loans recovered (charged off) | (3,304) | (4,445) | (3,802) | |||
Provision for loan losses | 11,293 | 6,144 | 3,818 | |||
Increase in FDIC indemnification asset | 195 | |||||
Ending balance | 24,506 | 16,517 | 14,818 | |||
Loans individually evaluated for impairment | 188 | 103 | 186 | |||
Loans collectively evaluated for impairment | 23,341 | 15,796 | 12,157 | |||
Loans evaluated for impairment, ending balance | 23,529 | 15,899 | 12,343 | |||
Purchased credit impaired loans | 977 | 618 | 2,475 | |||
Allowance for loan losses | 16,517 | 14,818 | 14,607 | 24,506 | 16,517 | 14,818 |
Loans Receivable [Member] | Residential Real Estate Loans [Member] | Loans Receivable [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans individually evaluated for impairment | 20,431 | 35,187 | 18,240 | |||
Loans collectively evaluated for impairment | 2,341,081 | 1,608,805 | 1,490,866 | |||
Loans evaluated for impairment, ending balance | 2,361,512 | 1,643,992 | 1,509,106 | |||
Purchased credit impaired loans | 50,102 | 53,070 | 111,429 | |||
Total Loans Receivable | 2,411,614 | 1,697,062 | 1,620,535 | |||
Loans Receivable [Member] | Commercial and Industrial [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Total Loans Receivable | 1,123,213 | 1,297,397 | ||||
Loans Receivable [Member] | Commercial and Industrial [Member] | Allowance for Loan Losses [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Beginning balance | 12,756 | 9,324 | 5,966 | |||
Loans charged off | (5,578) | (5,778) | (2,638) | |||
Recoveries of loans previously charged off | 464 | 5,533 | 802 | |||
Net loans recovered (charged off) | (5,114) | (245) | (1,836) | |||
Provision for loan losses | 7,650 | 3,677 | 5,204 | |||
Increase in FDIC indemnification asset | (10) | |||||
Ending balance | 15,292 | 12,756 | 9,324 | |||
Loans individually evaluated for impairment | 843 | 95 | 921 | |||
Loans collectively evaluated for impairment | 14,290 | 12,596 | 8,383 | |||
Loans evaluated for impairment, ending balance | 15,133 | 12,691 | 9,304 | |||
Purchased credit impaired loans | 159 | 65 | 20 | |||
Allowance for loan losses | 12,756 | 9,324 | 5,966 | 15,292 | 12,756 | 9,324 |
Loans Receivable [Member] | Commercial and Industrial [Member] | Loans Receivable [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans individually evaluated for impairment | 21,867 | 25,873 | 6,290 | |||
Loans collectively evaluated for impairment | 1,261,161 | 1,085,891 | 825,640 | |||
Loans evaluated for impairment, ending balance | 1,283,028 | 1,111,764 | 831,930 | |||
Purchased credit impaired loans | 14,369 | 11,449 | 18,657 | |||
Total Loans Receivable | 1,297,397 | 1,123,213 | 850,587 | |||
Loans Receivable [Member] | Unallocated [Member] | Allowance for Loan Losses [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Beginning balance | 6,831 | 2,486 | 1,934 | |||
Provision for loan losses | (3,979) | 4,345 | 552 | |||
Ending balance | 2,852 | 6,831 | 2,486 | |||
Loans collectively evaluated for impairment | 2,852 | 6,831 | 2,486 | |||
Loans evaluated for impairment, ending balance | 2,852 | 6,831 | 2,486 | |||
Allowance for loan losses | 6,831 | 2,486 | 1,934 | 2,852 | 6,831 | 2,486 |
Construction/Land Development [Member] | Loans Receivable [Member] | Allowance for Loan Losses [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Beginning balance | 11,522 | 10,782 | 8,548 | |||
Loans charged off | (1,632) | (382) | (644) | |||
Recoveries of loans previously charged off | 462 | 1,125 | 236 | |||
Net loans recovered (charged off) | (1,170) | 743 | (408) | |||
Provision for loan losses | 9,991 | (3) | 2,273 | |||
Increase in FDIC indemnification asset | 369 | |||||
Ending balance | 20,343 | 11,522 | 10,782 | |||
Loans individually evaluated for impairment | 1,378 | 15 | 1,149 | |||
Loans collectively evaluated for impairment | 18,954 | 11,463 | 9,506 | |||
Loans evaluated for impairment, ending balance | 20,332 | 11,478 | 10,655 | |||
Purchased credit impaired loans | 11 | 44 | 127 | |||
Allowance for loan losses | 11,522 | 10,782 | 8,548 | 20,343 | 11,522 | 10,782 |
Construction/Land Development [Member] | Loans Receivable [Member] | Loans Receivable [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans individually evaluated for impairment | 26,860 | 12,374 | 21,215 | |||
Loans collectively evaluated for impairment | 1,658,519 | 1,105,921 | 901,147 | |||
Loans evaluated for impairment, ending balance | 1,685,379 | 1,118,295 | 922,362 | |||
Purchased credit impaired loans | 15,112 | 17,548 | 22,425 | |||
Total Loans Receivable | 1,700,491 | 1,135,843 | 944,787 | |||
Other Commercial Real Estate [Member] | Loans Receivable [Member] | Allowance for Loan Losses [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Beginning balance | 28,188 | 26,798 | 18,157 | |||
Loans charged off | (3,749) | (3,586) | (4,878) | |||
Recoveries of loans previously charged off | 1,042 | 857 | 762 | |||
Net loans recovered (charged off) | (2,707) | (2,729) | (4,116) | |||
Provision for loan losses | 18,458 | 4,119 | 11,862 | |||
Increase in FDIC indemnification asset | 895 | |||||
Ending balance | 43,939 | 28,188 | 26,798 | |||
Loans individually evaluated for impairment | 768 | 1,416 | 2,115 | |||
Loans collectively evaluated for impairment | 42,824 | 25,641 | 24,511 | |||
Loans evaluated for impairment, ending balance | 43,592 | 27,057 | 26,626 | |||
Purchased credit impaired loans | 347 | 1,131 | 172 | |||
Allowance for loan losses | 28,188 | 26,798 | 18,157 | 43,939 | 28,188 | 26,798 |
Other Commercial Real Estate [Member] | Loans Receivable [Member] | Loans Receivable [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans individually evaluated for impairment | 124,124 | 74,723 | 55,858 | |||
Loans collectively evaluated for impairment | 4,442,201 | 3,080,201 | 2,887,880 | |||
Loans evaluated for impairment, ending balance | 4,566,325 | 3,154,924 | 2,943,738 | |||
Purchased credit impaired loans | 116,021 | 75,933 | 99,624 | |||
Total Loans Receivable | 4,682,346 | 3,230,857 | 3,043,362 | |||
Consumer & Other [Member] | Loans Receivable [Member] | Allowance for Loan Losses [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Beginning balance | 4,188 | 5,016 | 5,799 | |||
Loans charged off | (2,532) | (2,158) | (3,075) | |||
Recoveries of loans previously charged off | 841 | 1,004 | 827 | |||
Net loans recovered (charged off) | (1,691) | (1,154) | (2,248) | |||
Provision for loan losses | 837 | 326 | 1,455 | |||
Increase in FDIC indemnification asset | 10 | |||||
Ending balance | 3,334 | 4,188 | 5,016 | |||
Loans individually evaluated for impairment | 7 | |||||
Loans collectively evaluated for impairment | 3,310 | 4,176 | 5,006 | |||
Loans evaluated for impairment, ending balance | 3,317 | 4,176 | 5,006 | |||
Purchased credit impaired loans | 17 | 12 | 10 | |||
Allowance for loan losses | $ 4,188 | $ 5,016 | $ 5,799 | 3,334 | 4,188 | 5,016 |
Consumer & Other [Member] | Loans Receivable [Member] | Loans Receivable [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans individually evaluated for impairment | 500 | 1,096 | 1,053 | |||
Loans collectively evaluated for impairment | 236,392 | 198,064 | 179,391 | |||
Loans evaluated for impairment, ending balance | 236,892 | 199,160 | 180,444 | |||
Purchased credit impaired loans | 2,448 | 1,564 | 1,856 | |||
Total Loans Receivable | $ 239,340 | $ 200,724 | $ 182,300 |
Allowance for Loan Losses, Cr75
Allowance for Loan Losses, Credit Quality and Other - Summary of Aging Analysis for Loans Receivable (Detail) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans Receivable | $ 10,331,188 | $ 7,387,699 |
Multifamily Residential [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans Receivable | 441,303 | 340,926 |
Consumer [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans Receivable | 46,148 | 41,745 |
Commercial and Industrial [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans Receivable | 1,297,397 | 1,123,213 |
Loans Receivable [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 77,347 | 68,462 |
Current Loans | 7,310,352 | 10,262,726 |
Total Loans Receivable | 7,387,699 | 10,331,188 |
Accruing Loans Past Due 90 Days or More | 15,942 | 10,665 |
Loans Receivable [Member] | Multifamily Residential [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 262 | 253 |
Current Loans | 340,664 | 441,050 |
Total Loans Receivable | 340,926 | 441,303 |
Accruing Loans Past Due 90 Days or More | 100 | |
Loans Receivable [Member] | Consumer [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 344 | 474 |
Current Loans | 41,401 | 45,674 |
Total Loans Receivable | 41,745 | 46,148 |
Accruing Loans Past Due 90 Days or More | 21 | 26 |
Loans Receivable [Member] | Commercial and Industrial [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 5,030 | 9,631 |
Current Loans | 1,118,183 | 1,287,766 |
Total Loans Receivable | 1,123,213 | 1,297,397 |
Accruing Loans Past Due 90 Days or More | 309 | 1,944 |
Loans Receivable [Member] | Agricultural and Other [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 1,727 | 538 |
Current Loans | 157,252 | 192,654 |
Total Loans Receivable | 158,979 | 193,192 |
Accruing Loans Past Due 90 Days or More | 54 | |
Loans Past Due 30-59 Days [Member] | Loans Receivable [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 11,576 | 18,844 |
Loans Past Due 30-59 Days [Member] | Loans Receivable [Member] | Consumer [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 117 | 252 |
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 | 984 | 2,073 |
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 | 782 | 288 |
Loans Past Due 60-89 Days [Member] | Loans Receivable [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 2,647 | 4,921 |
Loans Past Due 60-89 Days [Member] | Loans Receivable [Member] | Consumer [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 66 | 51 |
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 | 582 | 1,030 |
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 | 113 |
Loans Past Due 90 Days or More [Member] | Loans Receivable [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 63,124 | 44,697 |
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 | 262 | 253 |
Loans Past Due 90 Days or More [Member] | Loans Receivable [Member] | Consumer [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 161 | 171 |
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 | 3,464 | 6,528 |
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 | 935 | 137 |
Commercial Real Estate Non Farm Nonresidential [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans Receivable | 4,600,117 | 3,153,121 |
Commercial Real Estate Non Farm Nonresidential [Member] | Loans Receivable [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 30,240 | 20,530 |
Current Loans | 3,122,881 | 4,579,587 |
Total Loans Receivable | 3,153,121 | 4,600,117 |
Accruing Loans Past Due 90 Days or More | 9,530 | 3,119 |
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 | 2,036 | 6,331 |
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 | 686 | 1,480 |
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 | 27,518 | 12,719 |
Commercial Real Estate Construction Land Development Loan [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans Receivable | 1,700,491 | 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 | 7,743 | 9,105 |
Current Loans | 1,128,100 | 1,691,386 |
Total Loans Receivable | 1,135,843 | 1,700,491 |
Accruing Loans Past Due 90 Days or More | 3,086 | 3,247 |
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 | 685 | 834 |
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 | 16 | 13 |
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 | 7,042 | 8,258 |
Agricultural [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans Receivable | 82,229 | 77,736 |
Agricultural [Member] | Loans Receivable [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 435 | 240 |
Current Loans | 77,301 | 81,989 |
Total Loans Receivable | 77,736 | 82,229 |
Agricultural [Member] | Loans Past Due 60-89 Days [Member] | Loans Receivable [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 221 | |
Agricultural [Member] | Loans Past Due 90 Days or More [Member] | Loans Receivable [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 435 | 19 |
Residential 1-4 Family [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans Receivable | 1,970,311 | 1,356,136 |
Residential 1-4 Family [Member] | Loans Receivable [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 31,566 | 27,691 |
Current Loans | 1,324,570 | 1,942,620 |
Total Loans Receivable | 1,356,136 | 1,970,311 |
Accruing Loans Past Due 90 Days or More | 2,996 | 2,175 |
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 | 6,972 | 9,066 |
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 | 1,287 | 2,013 |
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 | 23,307 | 16,612 |
Residential and Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans Receivable | 8,794,451 | 6,063,762 |
Residential and Commercial Real Estate [Member] | Loans Receivable [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 70,246 | 57,819 |
Current Loans | 5,993,516 | 8,736,632 |
Total Loans Receivable | 6,063,762 | 8,794,451 |
Accruing Loans Past Due 90 Days or More | 15,612 | 8,641 |
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 | 9,693 | 16,231 |
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 | 1,989 | 3,727 |
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 | $ 58,564 | $ 37,861 |
Allowance for Loan Losses, Cr76
Allowance for Loan Losses, Credit Quality and Other - Summary of Impaired Loans (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Financing Receivable, Impaired [Line Items] | |||
Unpaid Contractual Principal Balance | $ 350 | $ 424 | $ 121 |
Total Recorded Investment | 313 | 384 | 121 |
Allocation of Allowance for Loan Losses | 0 | 0 | 0 |
Average Recorded Investment | 274 | 231 | 29 |
Interest Recognized | 21 | 27 | 8 |
Unpaid Contractual Principal Balance | 81,573 | 96,678 | 99,808 |
Total Recorded Investment | 75,323 | 92,743 | 91,532 |
Allocation of Allowance for Loan Losses | 3,184 | 1,629 | 4,371 |
Average Recorded Investment | 86,888 | 89,377 | 88,033 |
Interest Recognized | 2,344 | 2,229 | 2,069 |
Unpaid Contractual Principal Balance | 81,923 | 97,102 | 99,929 |
Total Recorded Investment | 75,636 | 93,127 | 91,593 |
Allocation of Allowance for Loan Losses | 3,184 | 1,629 | 4,371 |
Average Recorded Investment | 87,162 | 89,608 | 88,062 |
Interest Recognized | 2,365 | 2,256 | 2,077 |
Commercial Real Estate Non Farm Nonresidential [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Unpaid Contractual Principal Balance | 29 | 29 | 29 |
Total Recorded Investment | 29 | 29 | 29 |
Allocation of Allowance for Loan Losses | 0 | 0 | 0 |
Average Recorded Investment | 23 | 23 | 6 |
Interest Recognized | 2 | 2 | 2 |
Unpaid Contractual Principal Balance | 29,666 | 52,477 | 47,861 |
Total Recorded Investment | 29,040 | 50,355 | 44,872 |
Allocation of Allowance for Loan Losses | 757 | 1,414 | 2,115 |
Average Recorded Investment | 41,772 | 42,979 | 43,900 |
Interest Recognized | 1,498 | 1,335 | 1,139 |
Unpaid Contractual Principal Balance | 29,695 | 52,506 | 47,890 |
Total Recorded Investment | 29,069 | 50,384 | 44,887 |
Allocation of Allowance for Loan Losses | 757 | 1,414 | 2,115 |
Average Recorded Investment | 41,795 | 43,002 | 43,906 |
Interest Recognized | 1,500 | 1,337 | 1,141 |
Commercial Real Estate Construction Land Development Loan [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Unpaid Contractual Principal Balance | 64 | ||
Total Recorded Investment | 64 | ||
Allocation of Allowance for Loan Losses | 0 | 0 | 0 |
Average Recorded Investment | 31 | 6 | |
Interest Recognized | 3 | ||
Unpaid Contractual Principal Balance | 12,976 | 8,313 | 17,025 |
Total Recorded Investment | 12,157 | 7,595 | 15,077 |
Allocation of Allowance for Loan Losses | 1,378 | 15 | 1,149 |
Average Recorded Investment | 10,556 | 12,878 | 16,026 |
Interest Recognized | 262 | 334 | 303 |
Unpaid Contractual Principal Balance | 13,040 | 8,313 | 17,025 |
Total Recorded Investment | 12,221 | 7,595 | 15,077 |
Allocation of Allowance for Loan Losses | 1,378 | 15 | 1,149 |
Average Recorded Investment | 10,587 | 12,884 | 16,026 |
Interest Recognized | 265 | 334 | 303 |
Agricultural [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Unpaid Contractual Principal Balance | 19 | 40 | |
Allocation of Allowance for Loan Losses | 0 | 0 | 0 |
Interest Recognized | 1 | 2 | |
Unpaid Contractual Principal Balance | 281 | 395 | 583 |
Total Recorded Investment | 303 | 438 | 561 |
Allocation of Allowance for Loan Losses | 11 | 2 | |
Average Recorded Investment | 268 | 469 | 153 |
Interest Recognized | 11 | ||
Unpaid Contractual Principal Balance | 300 | 435 | 583 |
Total Recorded Investment | 303 | 438 | 561 |
Allocation of Allowance for Loan Losses | 11 | 2 | |
Average Recorded Investment | 268 | 469 | 153 |
Interest Recognized | 12 | 2 | |
Residential 1-4 Family [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Unpaid Contractual Principal Balance | 115 | 231 | 80 |
Total Recorded Investment | 115 | 231 | 80 |
Allocation of Allowance for Loan Losses | 0 | 0 | 0 |
Average Recorded Investment | 135 | 119 | 21 |
Interest Recognized | 7 | 15 | 6 |
Unpaid Contractual Principal Balance | 19,770 | 26,681 | 18,454 |
Total Recorded Investment | 18,689 | 25,675 | 17,373 |
Allocation of Allowance for Loan Losses | 124 | 95 | 168 |
Average Recorded Investment | 22,347 | 20,239 | 16,947 |
Interest Recognized | 363 | 293 | 390 |
Unpaid Contractual Principal Balance | 19,885 | 26,912 | 18,534 |
Total Recorded Investment | 18,804 | 25,906 | 17,413 |
Allocation of Allowance for Loan Losses | 124 | 95 | 168 |
Average Recorded Investment | 22,482 | 20,358 | 16,968 |
Interest Recognized | 370 | 308 | 396 |
Residential and Commercial Real Estate [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Unpaid Contractual Principal Balance | 227 | 300 | 109 |
Total Recorded Investment | 208 | 260 | 109 |
Allocation of Allowance for Loan Losses | 0 | 0 | 0 |
Average Recorded Investment | 189 | 167 | 27 |
Interest Recognized | 13 | 19 | 8 |
Unpaid Contractual Principal Balance | 64,320 | 88,418 | 85,083 |
Total Recorded Investment | 61,816 | 84,615 | 79,043 |
Allocation of Allowance for Loan Losses | 2,334 | 1,534 | 3,450 |
Average Recorded Investment | 76,355 | 77,487 | 80,307 |
Interest Recognized | 2,215 | 1,971 | 1,866 |
Unpaid Contractual Principal Balance | 64,547 | 88,718 | 85,192 |
Total Recorded Investment | 62,024 | 84,875 | 79,098 |
Allocation of Allowance for Loan Losses | 2,334 | 1,534 | 3,450 |
Average Recorded Investment | 76,544 | 77,654 | 80,334 |
Interest Recognized | 2,228 | 1,990 | 1,874 |
Commercial and Industrial [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Unpaid Contractual Principal Balance | 105 | 124 | 12 |
Total Recorded Investment | 105 | 124 | 12 |
Allocation of Allowance for Loan Losses | 0 | 0 | 0 |
Average Recorded Investment | 85 | 64 | 2 |
Interest Recognized | 7 | 8 | 1 |
Unpaid Contractual Principal Balance | 16,777 | 7,160 | 13,385 |
Total Recorded Investment | 13,007 | 7,032 | 11,169 |
Allocation of Allowance for Loan Losses | 843 | 95 | 921 |
Average Recorded Investment | 9,726 | 10,630 | 6,542 |
Interest Recognized | 121 | 255 | 191 |
Unpaid Contractual Principal Balance | 16,882 | 7,284 | 13,397 |
Total Recorded Investment | 13,112 | 7,156 | 11,175 |
Allocation of Allowance for Loan Losses | 843 | 95 | 921 |
Average Recorded Investment | 9,811 | 10,694 | 6,544 |
Interest Recognized | 128 | 263 | 192 |
Agricultural and Other [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Allocation of Allowance for Loan Losses | 0 | 0 | 0 |
Unpaid Contractual Principal Balance | 297 | 935 | 1,034 |
Total Recorded Investment | 309 | 935 | 1,034 |
Allocation of Allowance for Loan Losses | 7 | ||
Average Recorded Investment | 644 | 1,037 | 614 |
Interest Recognized | 8 | 4 | |
Unpaid Contractual Principal Balance | 297 | 935 | 1,034 |
Total Recorded Investment | 309 | 935 | 1,034 |
Allocation of Allowance for Loan Losses | 7 | ||
Average Recorded Investment | 644 | 1,037 | 614 |
Interest Recognized | 8 | 4 | |
Consumer [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Unpaid Contractual Principal Balance | 18 | ||
Allocation of Allowance for Loan Losses | 0 | 0 | 0 |
Interest Recognized | 1 | ||
Unpaid Contractual Principal Balance | 179 | 165 | 306 |
Total Recorded Investment | 191 | 161 | 286 |
Average Recorded Investment | 163 | 223 | 570 |
Interest Recognized | 3 | 7 | |
Unpaid Contractual Principal Balance | 197 | 165 | 306 |
Total Recorded Investment | 191 | 161 | 286 |
Average Recorded Investment | 163 | 223 | 570 |
Interest Recognized | 1 | 3 | 7 |
Multifamily Residential [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Allocation of Allowance for Loan Losses | 0 | 0 | 0 |
Average Recorded Investment | 19 | ||
Unpaid Contractual Principal Balance | 1,627 | 552 | 1,160 |
Total Recorded Investment | 1,627 | 552 | 1,160 |
Allocation of Allowance for Loan Losses | 64 | 8 | 18 |
Average Recorded Investment | 1,412 | 922 | 3,281 |
Interest Recognized | 81 | 9 | 34 |
Unpaid Contractual Principal Balance | 1,627 | 552 | 1,160 |
Total Recorded Investment | 1,627 | 552 | 1,160 |
Allocation of Allowance for Loan Losses | 64 | 8 | 18 |
Average Recorded Investment | 1,412 | 941 | 3,281 |
Interest Recognized | $ 81 | $ 9 | $ 34 |
Allowance for Loan Losses, Cr77
Allowance for Loan Losses, Credit Quality and Other - Presentation of Classified Loans by Class and Risk Rating (Detail) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable not covered by loss share | $ 10,133,136 | $ 7,228,135 |
Purchased credit impaired loans acquired | 198,052 | 159,564 |
Loans receivable | 10,331,188 | 7,387,699 |
Commercial Real Estate Non Farm Nonresidential [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable not covered by loss share | 4,484,302 | 3,077,188 |
Loans receivable | 4,600,117 | 3,153,121 |
Commercial Real Estate Construction Land Development Loan [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable not covered by loss share | 1,685,379 | 1,118,295 |
Loans receivable | 1,700,491 | 1,135,843 |
Agricultural [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable not covered by loss share | 82,023 | 77,736 |
Loans receivable | 82,229 | 77,736 |
Residential 1-4 Family [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable not covered by loss share | 1,928,219 | 1,309,475 |
Loans receivable | 1,970,311 | 1,356,136 |
Residential and Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable not covered by loss share | 8,613,216 | 5,917,211 |
Loans receivable | 8,794,451 | 6,063,762 |
Agricultural and Other [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable not covered by loss share | 191,729 | 158,580 |
Loans Receivable [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 7,387,699 | 10,331,188 |
Loans Receivable [Member] | Commercial Real Estate Non Farm Nonresidential [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 3,153,121 | 4,600,117 |
Loans Receivable [Member] | Commercial Real Estate Construction Land Development Loan [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 1,135,843 | 1,700,491 |
Loans Receivable [Member] | Agricultural [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 77,736 | 82,229 |
Loans Receivable [Member] | Residential 1-4 Family [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 1,356,136 | 1,970,311 |
Loans Receivable [Member] | Residential and Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 6,063,762 | 8,794,451 |
Consumer [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable not covered by loss share | 45,163 | 40,580 |
Loans receivable | 46,148 | 41,745 |
Consumer [Member] | Loans Receivable [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 41,745 | 46,148 |
Commercial and Industrial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable not covered by loss share | 1,283,028 | 1,111,764 |
Loans receivable | 1,297,397 | 1,123,213 |
Commercial and Industrial [Member] | Loans Receivable [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 1,123,213 | 1,297,397 |
Agricultural and Other [Member] | Loans Receivable [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 158,979 | 193,192 |
Multifamily Residential [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable not covered by loss share | 433,293 | 334,517 |
Loans receivable | 441,303 | 340,926 |
Multifamily Residential [Member] | Loans Receivable [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 340,926 | 441,303 |
Risk Rated 1 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable not covered by loss share | 38,145 | 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 | 1,015 | 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 | 28 | 400 |
Risk Rated 1 [Member] | Residential 1-4 Family [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable not covered by loss share | 1,140 | 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 | 2,183 | 3,783 |
Risk Rated 1 [Member] | Agricultural and Other [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable not covered by loss share | 1,986 | 3,379 |
Risk Rated 1 [Member] | Consumer [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable not covered by loss share | 13,106 | 15,080 |
Risk Rated 1 [Member] | Commercial and Industrial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable not covered by loss share | 20,870 | 13,117 |
Risk Rated 2 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable not covered by loss share | 14,394 | 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 | 558 | 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 | 583 | 981 |
Risk Rated 2 [Member] | Agricultural [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable not covered by loss share | 19 | 157 |
Risk Rated 2 [Member] | Residential 1-4 Family [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable not covered by loss share | 969 | 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 | 2,129 | 7,583 |
Risk Rated 2 [Member] | Agricultural and Other [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable not covered by loss share | 3,914 | 976 |
Risk Rated 2 [Member] | Consumer [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable not covered by loss share | 808 | 231 |
Risk Rated 2 [Member] | Commercial and Industrial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable not covered by loss share | 7,543 | 3,644 |
Risk Rated 3 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable not covered by loss share | 5,470,879 | 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 | 2,595,844 | 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 | 280,980 | 180,094 |
Risk Rated 3 [Member] | Agricultural [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable not covered by loss share | 53,018 | 53,753 |
Risk Rated 3 [Member] | Residential 1-4 Family [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable not covered by loss share | 1,414,849 | 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 | 4,673,761 | 3,022,506 |
Risk Rated 3 [Member] | Agricultural and Other [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable not covered by loss share | 147,323 | 82,641 |
Risk Rated 3 [Member] | Consumer [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable not covered by loss share | 22,479 | 15,330 |
Risk Rated 3 [Member] | Commercial and Industrial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable not covered by loss share | 627,316 | 500,220 |
Risk Rated 3 [Member] | Multifamily Residential [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable not covered by loss share | 329,070 | 278,514 |
Risk Rated 4 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable not covered by loss share | 4,364,106 | 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 | 1,745,778 | 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 | 1,373,133 | 921,081 |
Risk Rated 4 [Member] | Agricultural [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable not covered by loss share | 27,515 | 22,238 |
Risk Rated 4 [Member] | Residential 1-4 Family [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable not covered by loss share | 475,619 | 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 | 3,725,116 | 2,738,422 |
Risk Rated 4 [Member] | Agricultural and Other [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable not covered by loss share | 38,370 | 70,649 |
Risk Rated 4 [Member] | Consumer [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable not covered by loss share | 8,532 | 9,645 |
Risk Rated 4 [Member] | Commercial and Industrial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable not covered by loss share | 592,088 | 558,413 |
Risk Rated 4 [Member] | Multifamily Residential [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable not covered by loss share | 103,071 | 45,742 |
Risk Rated 5 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable not covered by loss share | 161,498 | 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 | 119,656 | 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 | 6,438 | 7,087 |
Risk Rated 5 [Member] | Agricultural [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable not covered by loss share | 1,150 | 829 |
Risk Rated 5 [Member] | Residential 1-4 Family [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable not covered by loss share | 11,658 | 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 | 139,115 | 60,705 |
Risk Rated 5 [Member] | Consumer [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable not covered by loss share | 70 | 81 |
Risk Rated 5 [Member] | Commercial and Industrial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable not covered by loss share | 22,313 | 19,209 |
Risk Rated 5 [Member] | Multifamily Residential [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable not covered by loss share | 213 | 8,870 |
Classified Total [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable not covered by loss share | 84,114 | 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 | 21,451 | 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 | 24,217 | 8,652 |
Classified Total [Member] | Agricultural [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable not covered by loss share | 321 | 759 |
Classified Total [Member] | Residential 1-4 Family [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable not covered by loss share | 23,984 | 29,291 |
Classified Total [Member] | Residential and Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable not covered by loss share | 70,912 | 84,212 |
Classified Total [Member] | Agricultural and Other [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable not covered by loss share | 136 | 935 |
Classified Total [Member] | Loans Receivable [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 84,114 | 102,521 |
Classified Total [Member] | Loans Receivable [Member] | Commercial Real Estate Non Farm Nonresidential [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 21,451 | 44,119 |
Classified Total [Member] | Loans Receivable [Member] | Commercial Real Estate Construction Land Development Loan [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 24,217 | 8,652 |
Classified Total [Member] | Loans Receivable [Member] | Agricultural [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 321 | 759 |
Classified Total [Member] | Loans Receivable [Member] | Residential 1-4 Family [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 23,984 | 29,291 |
Classified Total [Member] | Loans Receivable [Member] | Residential and Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 70,912 | 84,212 |
Classified Total [Member] | Consumer [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable not covered by loss share | 168 | 213 |
Classified Total [Member] | Consumer [Member] | Loans Receivable [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 168 | 213 |
Classified Total [Member] | Commercial and Industrial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable not covered by loss share | 12,898 | 17,161 |
Classified Total [Member] | Commercial and Industrial [Member] | Loans Receivable [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 12,898 | 17,161 |
Classified Total [Member] | Agricultural and Other [Member] | Loans Receivable [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 136 | 935 |
Classified Total [Member] | Multifamily Residential [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable not covered by loss share | 939 | 1,391 |
Classified Total [Member] | Multifamily Residential [Member] | Loans Receivable [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 939 | 1,391 |
Risk Rated 6 [Member] | Loans Receivable [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 82,739 | 101,409 |
Risk Rated 6 [Member] | Loans Receivable [Member] | Commercial Real Estate Non Farm Nonresidential [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 20,933 | 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 | 24,013 | 8,619 |
Risk Rated 6 [Member] | Loans Receivable [Member] | Agricultural [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 321 | 759 |
Risk Rated 6 [Member] | Loans Receivable [Member] | Residential 1-4 Family [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 23,420 | 28,846 |
Risk Rated 6 [Member] | Loans Receivable [Member] | Residential and Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 69,626 | 83,272 |
Risk Rated 6 [Member] | Consumer [Member] | Loans Receivable [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 159 | 211 |
Risk Rated 6 [Member] | Commercial and Industrial [Member] | Loans Receivable [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 12,818 | 16,991 |
Risk Rated 6 [Member] | Agricultural and Other [Member] | Loans Receivable [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 136 | 935 |
Risk Rated 6 [Member] | Multifamily Residential [Member] | Loans Receivable [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 939 | 1,391 |
Risk Rated 7 [Member] | Loans Receivable [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 1,375 | 1,112 |
Risk Rated 7 [Member] | Loans Receivable [Member] | Commercial Real Estate Non Farm Nonresidential [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 518 | 462 |
Risk Rated 7 [Member] | Loans Receivable [Member] | Commercial Real Estate Construction Land Development Loan [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 204 | 33 |
Risk Rated 7 [Member] | Loans Receivable [Member] | Residential 1-4 Family [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 564 | 445 |
Risk Rated 7 [Member] | Loans Receivable [Member] | Residential and Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 1,286 | 940 |
Risk Rated 7 [Member] | Consumer [Member] | Loans Receivable [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 9 | 2 |
Risk Rated 7 [Member] | Commercial and Industrial [Member] | Loans Receivable [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | $ 80 | $ 170 |
Allowance for Loan Losses, Cr78
Allowance for Loan Losses, Credit Quality and Other - Presentation of Troubled Debt Restructurings ("TDRs") by Class (Detail) - Loans Receivable [Member] $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017USD ($)Contracts | Dec. 31, 2016USD ($)Contracts | Dec. 31, 2015USD ($)Contracts | |
Financing Receivable, Modifications [Line Items] | |||
Number of Loans | Contracts | 62 | 48 | 26 |
Pre-Modification Outstanding Balance | $ 26,424 | $ 27,919 | $ 18,625 |
Post-Modification Outstanding Balance | $ 21,198 | $ 25,516 | $ 18,201 |
Commercial Real Estate Non Farm Nonresidential [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of Loans | Contracts | 16 | 17 | 13 |
Pre-Modification Outstanding Balance | $ 16,853 | $ 21,344 | $ 14,422 |
Post-Modification Outstanding Balance | $ 14,578 | $ 20,405 | $ 14,088 |
Commercial Real Estate Construction Land Development Loan [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of Loans | Contracts | 5 | 1 | 2 |
Pre-Modification Outstanding Balance | $ 782 | $ 560 | $ 1,026 |
Post-Modification Outstanding Balance | $ 764 | $ 556 | $ 1,018 |
Agricultural [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of Loans | Contracts | 2 | 2 | |
Pre-Modification Outstanding Balance | $ 345 | $ 146 | |
Post-Modification Outstanding Balance | $ 304 | $ 123 | |
Residential 1-4 Family [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of Loans | Contracts | 21 | 21 | 8 |
Pre-Modification Outstanding Balance | $ 5,607 | $ 5,179 | $ 2,813 |
Post-Modification Outstanding Balance | $ 3,245 | $ 3,780 | $ 2,736 |
Residential and Commercial Real Estate [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of Loans | Contracts | 47 | 42 | 24 |
Pre-Modification Outstanding Balance | $ 25,288 | $ 27,524 | $ 18,556 |
Post-Modification Outstanding Balance | $ 20,518 | $ 25,154 | $ 18,132 |
Agricultural and Other [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of Loans | Contracts | 1 | ||
Pre-Modification Outstanding Balance | $ 166 | ||
Post-Modification Outstanding Balance | $ 166 | ||
Commercial and Industrial [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of Loans | Contracts | 11 | 6 | 2 |
Pre-Modification Outstanding Balance | $ 951 | $ 395 | $ 69 |
Post-Modification Outstanding Balance | $ 496 | 362 | 69 |
Consumer [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of Loans | Contracts | 3 | ||
Pre-Modification Outstanding Balance | $ 19 | ||
Post-Modification Outstanding Balance | 18 | ||
Rate Modification [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Post-Modification Outstanding Balance | 13,663 | 18,032 | 11,018 |
Rate Modification [Member] | Commercial Real Estate Non Farm Nonresidential [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Post-Modification Outstanding Balance | 8,815 | 14,600 | 9,189 |
Rate Modification [Member] | Commercial Real Estate Construction Land Development Loan [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Post-Modification Outstanding Balance | 689 | 556 | 1,018 |
Rate Modification [Member] | Agricultural [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Post-Modification Outstanding Balance | 282 | ||
Rate Modification [Member] | Residential 1-4 Family [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Post-Modification Outstanding Balance | 1,926 | 2,639 | 811 |
Rate Modification [Member] | Residential and Commercial Real Estate [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Post-Modification Outstanding Balance | 13,052 | 17,795 | 11,018 |
Rate Modification [Member] | Agricultural and Other [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Post-Modification Outstanding Balance | 166 | ||
Rate Modification [Member] | Commercial and Industrial [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Post-Modification Outstanding Balance | 445 | 237 | |
Term Modification [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Post-Modification Outstanding Balance | 496 | 545 | 2,267 |
Term Modification [Member] | Commercial Real Estate Non Farm Nonresidential [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Post-Modification Outstanding Balance | 250 | 263 | 273 |
Term Modification [Member] | Commercial Real Estate Construction Land Development Loan [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Post-Modification Outstanding Balance | 75 | ||
Term Modification [Member] | Agricultural [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Post-Modification Outstanding Balance | 22 | 43 | |
Term Modification [Member] | Residential 1-4 Family [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Post-Modification Outstanding Balance | 81 | 124 | 1,925 |
Term Modification [Member] | Residential and Commercial Real Estate [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Post-Modification Outstanding Balance | 428 | 430 | 2,198 |
Term Modification [Member] | Commercial and Industrial [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Post-Modification Outstanding Balance | 50 | 115 | 69 |
Term Modification [Member] | Consumer [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Post-Modification Outstanding Balance | 18 | ||
Rate and Term Modification [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Post-Modification Outstanding Balance | 7,039 | 6,939 | 4,916 |
Rate and Term Modification [Member] | Commercial Real Estate Non Farm Nonresidential [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Post-Modification Outstanding Balance | 5,513 | 5,542 | 4,626 |
Rate and Term Modification [Member] | Agricultural [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Post-Modification Outstanding Balance | 80 | ||
Rate and Term Modification [Member] | Residential 1-4 Family [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Post-Modification Outstanding Balance | 1,238 | 1,017 | |
Rate and Term Modification [Member] | Residential and Commercial Real Estate [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Post-Modification Outstanding Balance | 7,038 | 6,929 | $ 4,916 |
Rate and Term Modification [Member] | Commercial and Industrial [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Post-Modification Outstanding Balance | $ 1 | $ 10 | |
Multifamily Residential [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of Loans | Contracts | 3 | 1 | 1 |
Pre-Modification Outstanding Balance | $ 1,701 | $ 295 | $ 295 |
Post-Modification Outstanding Balance | 1,627 | 290 | 290 |
Multifamily Residential [Member] | Rate Modification [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Post-Modification Outstanding Balance | 1,340 | ||
Multifamily Residential [Member] | Rate and Term Modification [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Post-Modification Outstanding Balance | $ 287 | $ 290 | $ 290 |
Allowance for Loan Losses, Cr79
Allowance for Loan Losses, Credit Quality and Other - Presentation of TDR's on Non-Accrual Status (Detail) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017USD ($)Contracts | Dec. 31, 2016USD ($)Contracts | Dec. 31, 2015USD ($)Contracts | |
Financing Receivable, Modifications [Line Items] | |||
Number of Loans | 13 | 17 | 5 |
Recorded Balance | $ | $ 2,186 | $ 3,059 | $ 3,416 |
Multifamily Residential [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of Loans | 1 | ||
Recorded Balance | $ | $ 153 | ||
Commercial Real Estate Non Farm Nonresidential [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of Loans | 2 | 2 | 3 |
Recorded Balance | $ | $ 1,161 | $ 696 | $ 1,604 |
Agricultural [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of Loans | 1 | 2 | |
Recorded Balance | $ | $ 22 | $ 123 | |
Residential 1-4 Family [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of Loans | 8 | 13 | 2 |
Recorded Balance | $ | $ 850 | $ 2,240 | $ 1,812 |
Residential and Commercial Real Estate [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of Loans | 12 | 17 | 5 |
Recorded Balance | $ | $ 2,186 | $ 3,059 | $ 3,416 |
Commercial and Industrial [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of Loans | 1 |
Allowance for Loan Losses, Cr80
Allowance for Loan Losses, Credit Quality and Other - Summary of Total Foreclosed Assets (Detail) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Schedule Of Foreclosed Assets Activity [Line Items] | ||
Total foreclosed assets held for sale | $ 18,867 | $ 15,951 |
Commercial Real Estate Non Farm Nonresidential [Member] | ||
Schedule Of Foreclosed Assets Activity [Line Items] | ||
Total foreclosed assets held for sale | 9,766 | 9,423 |
Commercial Real Estate Construction Land Development Loan [Member] | ||
Schedule Of Foreclosed Assets Activity [Line Items] | ||
Total foreclosed assets held for sale | 5,920 | 4,009 |
Residential 1-4 Family [Member] | ||
Schedule Of Foreclosed Assets Activity [Line Items] | ||
Total foreclosed assets held for sale | 2,654 | 2,076 |
Multifamily Residential [Member] | ||
Schedule Of Foreclosed Assets Activity [Line Items] | ||
Total foreclosed assets held for sale | $ 527 | $ 443 |
Allowance for Loan Losses, Cr81
Allowance for Loan Losses, Credit Quality and Other - Summary of Purchased Credit Impaired Loans Acquired (Detail) - USD ($) $ in Thousands | Dec. 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) | $ 51,900 | $ 35,300 |
Accretable yield | 94,700 | $ 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 | |
Stonegate Bank [Member] | ||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | ||
Contractually required principal and interest at acquisition | 98,444 | |
Non-accretable difference (expected losses and foregone interest) | 23,297 | |
Cash flows expected to be collected at acquisition | 75,147 | |
Cash flows expected to be collected at acquisition | 75,147 | |
Accretable yield | 11,761 | |
Basis in purchased credit impaired loans at acquisition | $ 63,386 |
Allowance for Loan Losses, Cr82
Allowance for Loan Losses, Credit Quality and Other - Changes in Carrying Amount of Accretable Yield for Purchased Credit Impaired Loans (Detail) $ in Thousands | 12 Months Ended |
Dec. 31, 2017USD ($) | |
Receivables [Abstract] | |
Balance at beginning of period, Accretable Yield | $ 38,212 |
Reforecasted future interest payments for loan pools, Accretable Yield | 5,586 |
Accretion recorded to interest income, Accretable Yield | (19,886) |
Acquisitions, Accretable Yield | 14,875 |
Adjustment to yield, Accretable Yield | 3,016 |
Transfers to foreclosed assets held for sale, Accretable Yield | 0 |
Payments received, net, Accretable Yield | 0 |
Balance at end of period, Accretable Yield | 41,803 |
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 | 19,886 |
Acquisitions, Carrying Amount of Loans | 93,964 |
Adjustment to yield, Carrying Amount of Loans | 0 |
Transfers to foreclosed assets held for sale | (13,957) |
Payments received, net, Carrying Amount of Loans | (61,405) |
Balance at end of period, Carrying Amount of Loans | $ 198,052 |
Goodwill and Core Deposits an83
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 | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Goodwill | |||
Balance, beginning of period | $ 377,983 | $ 377,983 | |
Acquisitions | 549,966 | ||
Balance, end of period | 927,949 | 377,983 | $ 377,983 |
Core Deposit and Other Intangibles | |||
Balance, beginning of period | 18,311 | 21,443 | |
Acquisitions | 35,247 | ||
Amortization expense | (4,207) | (3,132) | (4,079) |
Balance, end of year | $ 49,351 | $ 18,311 | $ 21,443 |
Goodwill and Core Deposits an84
Goodwill and Core Deposits and Other Intangibles - Summary of Carrying Amount and Accumulated Amortization of Core Deposits and Other Intangibles (Detail) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 |
Goodwill and Intangible Assets Disclosure [Abstract] | |||
Gross carrying basis | $ 86,625 | $ 51,378 | |
Accumulated amortization | (37,274) | (33,067) | |
Net carrying amount | $ 49,351 | $ 18,311 | $ 21,443 |
Goodwill and Core Deposits an85
Goodwill and Core Deposits and Other Intangibles - Additional Information (Detail) - USD ($) | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |||
Core deposit and other intangible amortization | $ 4,207,000 | $ 3,132,000 | $ 4,079,000 |
Core deposit and other intangible impaired | 0 | ||
Amortization expense for year 2018 | 6,600,000 | ||
Amortization expense for year 2019 | 6,500,000 | ||
Amortization expense for year 2020 | 5,900,000 | ||
Amortization expense for year 2021 | 5,700,000 | ||
Amortization expense for year 2022 | 5,700,000 | ||
Carrying amount of Company's goodwill | $ 927,949,000 | $ 377,983,000 | $ 377,983,000 |
Other Assets - Additional Infor
Other Assets - Additional Information (Detail) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Other Assets [Abstract] | ||
Other assets | $ 177,779 | $ 129,300 |
Fair value of equity securities | $ 156,000 | $ 112,400 |
Deposits - Additional Informati
Deposits - Additional Information (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Deposits [Line Items] | |||
Time deposits with a minimum denomination of $250,000 | $ 636,900 | $ 569,100 | |
Time deposits with a minimum denomination of $100,000 | 998,300 | 842,900 | |
Interest expense applicable to certificate | 8,300 | 4,400 | $ 5,000 |
Brokered deposits | 1,030,000 | 502,500 | |
Total deposits | 10,388,502 | 6,942,427 | |
State and Political Subdivisions [Member] | |||
Deposits [Line Items] | |||
Total deposits | $ 1,510,000 | $ 1,230,000 |
Deposits - Summary of Scheduled
Deposits - Summary of Scheduled Maturities of Time Deposits (Detail) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Investments Schedule [Abstract] | ||
One month or less | $ 176,900 | |
Over 1 month to 3 months | 194,764 | |
Over 3 months to 6 months | 339,928 | |
Over 6 months to 12 months | 355,144 | |
Over 12 months to 2 years | 337,453 | |
Over 2 years to 3 years | 63,217 | |
Over 3 years to 5 years | 57,046 | |
Over 5 years | 1,979 | |
Total time deposits | $ 1,526,431 | $ 1,284,002 |
Securities Sold Under Agreeme89
Securities Sold Under Agreements to Repurchase - Additional Information (Detail) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Securities Sold under Agreements to Repurchase [Abstract] | ||
Securities sold under agreements to repurchase | $ 147,789 | $ 121,290 |
Securities sold under agreements to repurchase daily weighted average | 134,700 | 120,600 |
Gross amount of recognized liabilities for securities sold under agreements to repurchase | $ 147,800 | $ 121,300 |
Securities Sold Under Agreeme90
Securities Sold Under Agreements to Repurchase - Summary of Remaining Contractual Maturity of Securities Sold Under Agreements to Repurchase (Detail) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Assets Sold under Agreements to Repurchase [Line Items] | ||
Total borrowings | $ 147,789 | $ 121,290 |
U.S. Government-Sponsored Enterprises [Member] | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Total borrowings | 21,525 | 1,918 |
Mortgage-Backed Securities [Member] | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Total borrowings | 21,255 | 22,691 |
State and Political Subdivisions [Member] | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Total borrowings | 85,428 | 74,559 |
Other Securities [Member] | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Total borrowings | 19,581 | 22,122 |
Overnight and Continuous [Member] | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Total borrowings | 137,789 | 121,290 |
Overnight and Continuous [Member] | U.S. Government-Sponsored Enterprises [Member] | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Total borrowings | 11,525 | 1,918 |
Overnight and Continuous [Member] | Mortgage-Backed Securities [Member] | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Total borrowings | 21,255 | 22,691 |
Overnight and Continuous [Member] | State and Political Subdivisions [Member] | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Total borrowings | 85,428 | 74,559 |
Overnight and Continuous [Member] | Other Securities [Member] | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Total borrowings | 19,581 | $ 22,122 |
Greater than 90 Days [Member] | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Total borrowings | 10,000 | |
Greater than 90 Days [Member] | U.S. Government-Sponsored Enterprises [Member] | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Total borrowings | $ 10,000 |
FHLB Borrowed Funds - Additiona
FHLB Borrowed Funds - Additional Information (Detail) - USD ($) $ in Millions | Dec. 31, 2017 | Dec. 31, 2016 |
Borrowed Funds [Line Items] | ||
FHLB borrowed funds | $ 1,300 | $ 1,310 |
Maturity of FHLB advances | 2,025 | |
Short-term advances | $ 525 | 40 |
Long-term advances | 774.2 | 1,270 |
Line of credit | $ 695.3 | $ 516.2 |
Minimum [Member] | ||
Borrowed Funds [Line Items] | ||
FHLB interest rate | 0.636% | |
Maximum [Member] | ||
Borrowed Funds [Line Items] | ||
FHLB interest rate | 5.96% |
FHLB Borrowed Funds - Maturitie
FHLB Borrowed Funds - Maturities of Borrowings with Original Maturities (Detail) $ in Thousands | Dec. 31, 2017USD ($) |
By Contractual Maturity [Member] | |
Borrowed Funds [Line Items] | |
2,018 | $ 984,279 |
2,019 | 143,070 |
2,020 | 146,428 |
2,021 | 0 |
2,022 | 0 |
Thereafter | 25,411 |
Long-term Debt, Total | 1,299,188 |
By Call Date [Member] | |
Borrowed Funds [Line Items] | |
2,018 | 984,279 |
2,019 | 143,070 |
2,020 | 146,428 |
2,021 | 0 |
2,022 | 0 |
Thereafter | 25,411 |
Long-term Debt, Total | $ 1,299,188 |
Other Borrowings - Additional I
Other Borrowings - Additional Information (Detail) - USD ($) | Dec. 31, 2017 | Dec. 31, 2016 |
Line of Credit Facility [Line Items] | ||
Balance of line of credit | $ 695,300,000 | $ 516,200,000 |
Other borrowings | 0 | 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 | Dec. 31, 2017 | Dec. 31, 2016 |
Debt Instrument [Line Items] | |||
Subordinated debentures | $ 368,031 | $ 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] | |||
Aggregate principal amount of notes issued | $ 300,000 | ||
Subordinated debt issuance date | Apr. 3, 2017 | ||
Subordinated notes, Interest rate | 5.625% | ||
Net proceeds from subordinated debt issuance, after underwriting discounts | $ 297,000 | ||
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% | ||
Trust Preferred Securities [Member] | Stonegate Bank [Member] | |||
Debt Instrument [Line Items] | |||
Aggregate principal amount of notes issued | $ 12,500 | ||
Trust preferred securities, fair value | $ 9,800 | ||
Debt instrument, redemption description | The associated subordinated debentures are redeemable, in whole or in part, prior to maturity at our option on a quarterly basis when interest is due and payable and in whole at any time within 90 days following the occurrence and continuation of certain changes in the tax treatment or capital treatment of the debentures. | ||
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] | |||
Face value of company held trust preferred securities | $ 73,300 |
Subordinated Debentures - Prefe
Subordinated Debentures - Preferred Trust Securities and Subordinated Debentures (Detail) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Debt Instrument [Line Items] | ||
Subordinated debentures, issued | $ 368,031 | $ 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 2035, floating rate 2.15% [Member] | Trust Preferred Securities [Member] | ||
Debt Instrument [Line Items] | ||
Subordinated debentures, issued | 4,304 | |
Due 2036, fixed Rate 7.38% during the first five years and at a floating rate of 1.62% [Member] | Trust Preferred Securities [Member] | ||
Debt Instrument [Line Items] | ||
Subordinated debentures, issued | 5,569 | |
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 | $ 297,332 |
Subordinated Debentures - Pre96
Subordinated Debentures - Preferred Trust Securities and Subordinated Debentures (Parenthetical) (Detail) | 12 Months Ended |
Dec. 31, 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 2035, floating rate 2.15% [Member] | Trust Preferred Securities [Member] | |
Debt Instrument [Line Items] | |
Subordinated debentures, issued date | Dec. 31, 2005 |
Subordinated debentures, due date | Dec. 31, 2035 |
Due 2035, floating rate 2.15% [Member] | Trust Preferred Securities [Member] | LIBOR [Member] | |
Debt Instrument [Line Items] | |
Floating rate above three-month LIBOR rate | 2.15% |
Due 2036, fixed Rate 7.38% during the first five years and at a floating rate of 1.62% [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 | 7.38% |
Due 2036, fixed Rate 7.38% during the first five years and at a floating rate of 1.62% [Member] | Trust Preferred Securities [Member] | LIBOR [Member] | |
Debt Instrument [Line Items] | |
Floating rate above three-month LIBOR rate | 1.62% |
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 | Sep. 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 - Additional infor
Income Taxes - Additional information (Detail) - USD ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Income Tax Examination [Line Items] | ||||
Statutory federal income tax rate | 35.00% | 35.00% | 35.00% | |
Revaluation of deferred tax asset | $ 113.5 | |||
One-time non-cash charge | $ 36.9 | |||
Scenario, Forecast [Member] | ||||
Income Tax Examination [Line Items] | ||||
Statutory federal income tax rate | 21.00% |
Income Taxes - Summary of Compo
Income Taxes - Summary of Components of Provision (Benefit) for Income Taxes (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Current: | |||
Federal | $ 76,569 | $ 77,418 | $ 61,007 |
State | 25,347 | 15,377 | 12,117 |
Total current | 101,916 | 92,795 | 73,124 |
Deferred: | |||
Federal | 25,607 | 10,600 | 5,980 |
State | 8,477 | 2,105 | 1,188 |
Total deferred | 34,084 | 12,705 | 7,168 |
Income tax expense | $ 136,000 | $ 105,500 | $ 80,292 |
Income Taxes - Reconciliation b
Income Taxes - Reconciliation between Statutory Federal Income Tax Rate and Effective Income Tax Rate (Detail) | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Effective Income Tax Rate Reconciliation, Percent [Abstract] | |||
Statutory federal income tax rate | 35.00% | 35.00% | 35.00% |
Effect of non-taxable interest income | (1.57%) | (1.52%) | (1.91%) |
Effect of gain on acquisitions | (0.49%) | (0.26%) | |
Stock compensation | (0.67%) | ||
State income taxes, net of federal benefit | 4.05% | 4.08% | 4.02% |
Effect of tax rate change | 13.62% | ||
Other | 0.23% | (0.23%) | (0.10%) |
Effective income tax rate | 50.17% | 37.33% | 36.75% |
Income Taxes - Differences Betw
Income Taxes - Differences Between Tax Basis of Assets and Liabilities (Detail) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Deferred tax assets: | ||
Allowance for loan losses | $ 29,515 | $ 31,381 |
Deferred compensation | 1,142 | 3,925 |
Stock compensation | 2,731 | 669 |
Real estate owned | 1,731 | 2,296 |
Unrealized loss on securities available-for-sale | 1,471 | |
Loan discounts | 32,784 | 9,157 |
Tax basis premium/discount on acquisitions | 8,802 | 14,757 |
Investments | 1,155 | 1,957 |
Other | 11,663 | 8,361 |
Gross deferred tax assets | 90,994 | 72,503 |
Deferred tax liabilities: | ||
Accelerated depreciation on premises and equipment | 291 | 2,154 |
Unrealized gain on securities available-for-sale | 258 | |
Core deposit intangibles | 11,258 | 4,950 |
FHLB dividends | 1,625 | 1,926 |
Other | 1,256 | 1,917 |
Gross deferred tax liabilities | 14,430 | 11,205 |
Net deferred tax assets | $ 76,564 | $ 61,298 |
Common Stock, Compensation P101
Common Stock, Compensation Plans and Other - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Millions | Feb. 21, 2018 | Jan. 20, 2017 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Common stock, shares authorized | 200,000,000 | 200,000,000 | |||
Common stock, par value | $ 0.01 | $ 0.01 | |||
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 | 857,800 | 510,608 | 134,664 | ||
Weighted average stock price | $ 24.29 | ||||
Repurchase of combining of all the shares | 4,524,864 | ||||
Remaining balance available for repurchase | 5,227,136 | ||||
Remaining shares of common stock available for future grants | 2,319,000 | ||||
Shares of common stock reserved for issuance | 4,593,000 | ||||
Intrinsic value of stock options outstanding | $ 16.2 | $ 30.2 | $ 21.1 | ||
Intrinsic value of stock options vested | 9.9 | 12.1 | 14.5 | ||
Intrinsic value of stock options exercised | $ 3.7 | $ 8 | $ 7.2 | ||
Weighted average fair value of options granted (split adjusted) | $ 7.10 | $ 5.08 | |||
Unrecognized compensation cost weighted-average remaining contractual life | 3 years 1 month 20 days | ||||
Subsequent Event [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Number of additional shares authorized to repurchase | 5,000,000 | ||||
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 | ||||
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 awards | $ 4.8 | ||||
Unrecognized compensation cost net of income tax benefit, related to non-vested stock option awards | $ 12.9 |
Common Stock, Compensation P102
Common Stock, Compensation Plans and Other - Summary of Stock Option Transactions under Incentive Plan (Split Adjusted) (Detail) - $ / shares shares in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |||
Outstanding Shares, beginning of year | 2,397 | 2,794 | 1,810 |
Granted Shares | 80 | 140 | 1,486 |
Forfeited/Expired Shares | (14) | (40) | |
Exercised Shares | (203) | (523) | (462) |
Outstanding Shares, end of year | 2,274 | 2,397 | 2,794 |
Exercisable Shares, end of year | 1,016 | 639 | 960 |
Outstanding Weighted Average Exercisable Price, beginning of year | $ 15.19 | $ 12.71 | $ 5.90 |
Weighted Average Exercisable Price, Granted | 25.96 | 21.25 | 18.15 |
Weighted Average Exercisable Price, Forfeited/Expired | 17.28 | 20.16 | |
Weighted Average Exercisable Price, Exercised | 7.82 | 3.50 | 2.90 |
Outstanding, end of year | 16.23 | 15.19 | 12.71 |
Exercisable, end of year | $ 13.55 | $ 8.88 | $ 5.13 |
Common Stock, Compensation P103
Common Stock, Compensation Plans and Other - Summary of Stock Options on Valuation Assumptions (Detail) | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions and Methodology [Abstract] | |||
Expected dividend yield | 1.39% | 1.65% | 1.60% |
Expected stock price volatility | 28.47% | 26.66% | 25.91% |
Risk-free interest rate | 2.06% | 1.65% | 1.74% |
Expected life of options | 6 years 6 months | 6 years 6 months | 6 years 6 months |
Common Stock, Compensation P104
Common Stock, Compensation Plans and Other - Summary of Currently Outstanding and Exercisable Options (Split Adjusted) (Detail) | 12 Months Ended |
Dec. 31, 2017$ / sharesshares | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |
Options Outstanding Shares | shares | 2,274,000 |
Options Exercisable Shares | shares | 1,016,000 |
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 | 17,000 |
Options Exercisable Shares | shares | 17,000 |
Options Outstanding Weighted- Average Remaining Contractual Life (in years) | 1 year 4 months 2 days |
Options outstanding Weighted- Average Exercise Price | $ 2.58 |
Options Exercisable Weighted- Average Exercise Price | 2.58 |
Exercise Prices Range $4.27 to $4.30 [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 | $ 4.3 |
Options Outstanding Shares | shares | 81,000 |
Options Exercisable Shares | shares | 81,000 |
Options Outstanding Weighted- Average Remaining Contractual Life (in years) | 15 days |
Options outstanding Weighted- Average Exercise Price | $ 4.27 |
Options Exercisable Weighted- Average Exercise Price | 4.27 |
Exercise Prices Range $5.68 to $6.56 [Member] | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |
Exercise Prices, Lower Range Limit | 5.68 |
Exercise Prices, Upper Range Limit | $ 6.56 |
Options Outstanding Shares | shares | 102,000 |
Options Exercisable Shares | shares | 102,000 |
Options Outstanding Weighted- Average Remaining Contractual Life (in years) | 3 years 6 months 21 days |
Options outstanding Weighted- Average Exercise Price | $ 6.43 |
Options Exercisable Weighted- Average Exercise Price | 6.43 |
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 | 279,000 |
Options Exercisable Shares | shares | 219,000 |
Options Outstanding Weighted- Average Remaining Contractual Life (in years) | 5 years 2 months 1 day |
Options outstanding Weighted- Average Exercise Price | $ 9.08 |
Options Exercisable Weighted- Average Exercise Price | 9.07 |
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 | 14.71 |
Exercise Prices, Upper Range Limit | $ 16.86 |
Options Outstanding Shares | shares | 262,000 |
Options Exercisable Shares | shares | 124,000 |
Options Outstanding Weighted- Average Remaining Contractual Life (in years) | 6 years 9 months |
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 | 203,000 |
Options Exercisable Shares | shares | 93,000 |
Options Outstanding Weighted- Average Remaining Contractual Life (in years) | 6 years 10 months 28 days |
Options outstanding Weighted- Average Exercise Price | $ 17.19 |
Options Exercisable Weighted- Average Exercise Price | 17.25 |
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 | 329,000 |
Options Outstanding Weighted- Average Remaining Contractual Life (in years) | 7 years 7 months 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 | 27,000 |
Options Outstanding Weighted- Average Remaining Contractual Life (in years) | 7 years 9 months 3 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 3 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 3 months 19 days |
Options outstanding Weighted- Average Exercise Price | $ 25.96 |
Common Stock, Compensation P105
Common Stock, Compensation Plans and Other - Summary of Company's Restricted Stock Issued and Outstanding (Split Adjusted) (Detail) - USD ($) shares in Thousands, $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |||
Beginning of year | 958 | 975 | 514 |
Issued | 232 | 244 | 704 |
Vested | (45) | (256) | (204) |
Forfeited | (5) | (39) | |
End of year | 1,145 | 958 | 975 |
Amount of expense for twelve months ended | $ 5,237 | $ 4,049 | $ 2,511 |
Non-Interest Expense - Componen
Non-Interest Expense - Components of Non-Interest Expense (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Noninterest Expense [Abstract] | |||
Salaries and employee benefits | $ 119,369 | $ 101,962 | $ 87,512 |
Occupancy and equipment | 30,611 | 26,129 | 25,967 |
Data processing expense | 11,998 | 10,499 | 10,774 |
Other operating expenses: | |||
Advertising | 3,203 | 3,332 | 2,986 |
Merger and acquisition expenses | 25,743 | 433 | 4,800 |
FDIC loss share buy-out expense | 3,849 | ||
Amortization of intangibles | 4,207 | 3,132 | 4,079 |
Electronic banking expense | 6,662 | 5,742 | 5,166 |
Directors' fees | 1,259 | 1,150 | 1,071 |
Due from bank service charges | 1,602 | 1,354 | 1,096 |
FDIC and state assessment | 5,239 | 5,491 | 5,287 |
Insurance | 2,512 | 2,193 | 2,542 |
Legal and accounting | 2,993 | 2,206 | 2,028 |
Other professional fees | 5,359 | 4,049 | 3,226 |
Operating supplies | 1,978 | 1,758 | 1,880 |
Postage | 1,184 | 1,084 | 1,196 |
Telephone | 1,374 | 1,751 | 1,917 |
Other expense | 14,915 | 15,641 | 16,028 |
Total other operating expenses | 78,230 | 53,165 | 53,302 |
Total non-interest expense | $ 240,208 | $ 191,755 | $ 177,555 |
Employee Benefit Plans - Additi
Employee Benefit Plans - Additional Information (Detail) - USD ($) | 12 Months Ended | ||||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2011 | Apr. 20, 2007 | |
Chairman's Retirement Plan [Member] | |||||
Employee Benefit Plans [Line Items] | |||||
Employee benefits plan expense | $ 148,000 | $ 155,000 | $ 163,000 | ||
Supplemental retirement benefit | $ 250,000 | ||||
Employee benefits plan vested | 100.00% | ||||
Supplemental retirement benefit plan during year | 250,000 | 250,000 | 250,000 | ||
Plan 401 k [Member] | |||||
Employee Benefit Plans [Line Items] | |||||
Employee benefits plan expense | 1,600,000 | 1,400,000 | 1,200,000 | ||
Discretionary contributions amount | $ 0 | $ 0 | $ 0 |
Related Party Transactions - Ad
Related Party Transactions - Additional Information (Detail) - USD ($) | 1 Months Ended | 12 Months Ended | ||||
Sep. 30, 2017 | May 31, 2017 | Apr. 30, 2017 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Schedule of Other Related Party Transactions [Line Items] | ||||||
Related party loans | $ 57,100,000 | $ 51,600,000 | ||||
Related parties new loans and advances | 12,000,000 | 5,000,000 | ||||
Repayments of loans by related parties | 6,000,000 | 4,700,000 | ||||
Non interest-bearing deposits | 2,000,000 | 849,000 | ||||
Savings and interest-bearing transaction accounts | 10,300,000 | 25,900,000 | ||||
Certificates of time deposit | 445,000 | 957,000 | ||||
Rent expense totaling paid to related parties | 100,000 | $ 100,000 | $ 100,000 | |||
Amount contributed towards the fixed cost of plane | $ 50,000 | |||||
Percentage of time allotment for use of plane | 40.00% | |||||
Amount charged per hour for use of plane if exceeded the time limit | $ 600 | |||||
John W. Allison [Member] | ||||||
Schedule of Other Related Party Transactions [Line Items] | ||||||
Amount contributed towards the fixed cost of plane | $ 25,000 | |||||
Percentage of time allotment for use of plane | 20.00% | |||||
Payment of annual lease rent | $ 9,000 | |||||
John W. Allison [Member] | Board of Directors Chairman [Member] | ||||||
Schedule of Other Related Party Transactions [Line Items] | ||||||
Purchase price of used airplane | $ 3,300,000 | |||||
Unaffiliated Third Party [Member] | ||||||
Schedule of Other Related Party Transactions [Line Items] | ||||||
Percentage of sale of assets in previous airplane | 50.00% | |||||
Third Party [Member] | ||||||
Schedule of Other Related Party Transactions [Line Items] | ||||||
Amount contributed towards the fixed cost of plane | $ 50,000 | |||||
Percentage of time allotment for use of plane | 40.00% |
Leases - Additional Information
Leases - Additional Information (Detail) | 12 Months Ended |
Dec. 31, 2017 | |
Leases [Abstract] | |
Company leases certain premises and equipment under non cancelable operating leases with terms | 21 years |
Leases - Minimum Rental Commitm
Leases - Minimum Rental Commitment under Operating Leases (Detail) $ in Thousands | Dec. 31, 2017USD ($) |
Leases [Abstract] | |
2,018 | $ 8,543 |
2,019 | 7,811 |
2,020 | 7,167 |
2,021 | 5,685 |
2,022 | 4,182 |
Thereafter | 28,799 |
Operating lease, minimum rental commitments | $ 62,187 |
Significant Estimates and Co111
Significant Estimates and Concentrations of Credit Risks - Additional Information (Detail) | 12 Months Ended | |
Dec. 31, 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 | 90.40% | |
Loans Receivable [Member] | Commercial Real Estate [Member] | Credit Concentration [Member] | ||
Commitment And Contingencies [Line Items] | ||
Concentration percentage | 61.80% | 59.10% |
Loans Receivable [Member] | Residential Real Estate [Member] | Credit Concentration [Member] | ||
Commitment And Contingencies [Line Items] | ||
Concentration percentage | 23.30% | 23.00% |
Total Stockholders' Equity [Member] | Commercial Real Estate [Member] | Credit Concentration [Member] | ||
Commitment And Contingencies [Line Items] | ||
Concentration percentage | 289.60% | 328.90% |
Total Stockholders' Equity [Member] | Residential Real Estate [Member] | Credit Concentration [Member] | ||
Commitment And Contingencies [Line Items] | ||
Concentration percentage | 109.40% | 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 | 90.80% |
Commitments and Contingencies -
Commitments and Contingencies - Additional Information (Detail) - USD ($) | Dec. 31, 2017 | Dec. 31, 2016 |
Commitments and Contingencies Disclosure [Abstract] | ||
Commitments to extend credit outstanding | $ 2,380,000,000 | $ 1,820,000,000 |
Maximum amount of future payments by the company | $ 70,500,000 | $ 41,100,000 |
Financial Instruments - Additio
Financial Instruments - Additional Information (Detail) - USD ($) | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Carrying value of foreclosed assets held for sale | $ 1,200,000 | ||
Write-down foreclosed assets | 636,000 | ||
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 | $ 0 |
Fair value of loans with specific allocated losses | 72,500,000 | 91,500,000 | |
Accrued interest receivable reversed | 662,000 | 954,000 | |
Fair value of foreclosed assets held for sale | $ 18,900,000 | $ 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 | Dec. 31, 2017 | Dec. 31, 2016 |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investment securities - held-to-maturity | $ 224,756 | $ 284,176 |
Carrying Amount [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Cash and cash equivalents | 635,933 | 216,649 |
Federal funds sold | 24,109 | 1,550 |
Accrued interest receivable | 45,708 | 30,838 |
Demand and non-interest bearing | 2,385,252 | 1,695,184 |
Savings and interest-bearing transaction accounts | 6,476,819 | 3,963,241 |
Securities sold under agreements to repurchase | 147,789 | 121,290 |
Accrued interest payable | 5,583 | 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 | 224,756 | 284,176 |
FHLB and other borrowed funds | 1,299,188 | 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 | 10,148,470 | 7,216,199 |
Time deposits | 1,526,431 | 1,284,002 |
Subordinated debentures | 368,031 | 60,826 |
Fair Value [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Cash and cash equivalents | 635,933 | 216,649 |
Federal funds sold | 24,109 | 1,550 |
Accrued interest receivable | 45,708 | 30,838 |
Demand and non-interest bearing | 2,385,252 | 1,695,184 |
Savings and interest-bearing transaction accounts | 6,476,819 | 3,963,241 |
Securities sold under agreements to repurchase | 147,789 | 121,290 |
Accrued interest payable | 5,583 | 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 | 227,539 | 287,038 |
FHLB and other borrowed funds | 1,299,961 | 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 | 10,055,901 | 7,131,199 |
Time deposits | 1,514,670 | 1,275,634 |
Subordinated debentures | $ 379,146 | $ 60,826 |
Regulatory Matters - Additional
Regulatory Matters - Additional Information (Detail) - USD ($) $ in Millions | 12 Months Ended | ||||
Dec. 31, 2017 | Jan. 01, 2019 | Jan. 01, 2017 | Jan. 01, 2016 | Jul. 31, 2013 | |
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 | $ 86.7 | ||||
Dividend equal to percentage of banking subsidiary's earnings | 57.50% | ||||
Basel III [Member] | |||||
Regulatory Matters [Line Items] | |||||
Consolidated risk weighted asset | $ 500 | ||||
Capital conservation buffer, percentage | 0.625% | ||||
Increase in capital conservation buffer | 62.50% | ||||
Capital conservation buffer phase in period start date | Jan. 1, 2016 | ||||
Capital conservation buffer phase in period end date | Jan. 1, 2019 | ||||
Basel III [Member] | Scenario, Forecast [Member] | |||||
Regulatory Matters [Line Items] | |||||
Capital requirement, Ratio | 2.50% | ||||
Criteria 2 [Member] | Basel III [Member] | |||||
Regulatory Matters [Line Items] | |||||
Risk-based capital ratio | 15.05% | ||||
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 | 10.86% | ||||
Tier 1 leverage capital ratio | 9.98% | ||||
Tier 1 risk-based capital ratio | 11.48% | ||||
Criteria 1 [Member] | Basel III [Member] | |||||
Regulatory Matters [Line Items] | |||||
Tier 1 leverage capital ratio | 4.00% | ||||
Tier 1 risk-based capital ratio | 4.50% | ||||
Risk-based capital ratio | 6.00% | ||||
Risk-based capital ratio | 8.00% |
Regulatory Matters - Summary of
Regulatory Matters - Summary of Company's Actual Capital Amount and Ratios (Detail) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Home BancShares [Member] | ||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ||
Common equity Tier 1 capital ratios, Actual, Amount | $ 1,240,822 | $ 938,754 |
Common equity Tier 1 capital ratios, Actual, Ratio | 10.86% | 11.30% |
Leverage ratios, Actual, Amount | $ 1,311,520 | $ 997,754 |
Leverage ratios, Actual, Ratio | 9.98% | 10.63% |
Tier 1 capital ratios, Actual, Amount | $ 1,311,520 | $ 997,754 |
Tier 1 capital ratios, Actual, Ratio | 11.48% | 12.01% |
Total risk-based capital ratios, Actual, Amount | $ 1,719,118 | $ 1,077,756 |
Total risk-based capital ratios, Actual, Ratio | 15.05% | 12.97% |
Centennial Bank [Member] | ||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ||
Common equity Tier 1 capital ratios, Actual, Amount | $ 1,546,451 | $ 920,232 |
Common equity Tier 1 capital ratios, Actual, Ratio | 13.55% | 11.10% |
Common equity Tier 1 capital ratios, Minimum To Be Well-Capitalized Under Prompt Corrective Action Provision, Amount | $ 741,840 | $ 538,875 |
Common equity Tier 1 capital ratios, Minimum To Be Well-Capitalized Under Prompt Corrective Action Provision, Ratio | 6.50% | 6.50% |
Leverage ratios, Actual, Amount | $ 1,546,451 | $ 920,232 |
Leverage ratios, Actual, Ratio | 11.76% | 9.81% |
Leverage ratios, Minimum To Be Well Capitalized Under Prompt Corrective Action Provision, Amount | $ 657,505 | $ 469,028 |
Leverage ratios, Minimum To Be Well Capitalized Under Prompt Corrective Action Provision, Ratio | 5.00% | 5.00% |
Tier 1 capital ratios, Actual, Amount | $ 1,546,451 | $ 920,232 |
Tier 1 capital ratios, Actual, Ratio | 13.55% | 11.10% |
Tier 1 capital ratios, Minimum To Be Well Capitalized Under Prompt Corrective Action Provision, Amount | $ 913,034 | $ 663,230 |
Tier 1 capital ratios, Minimum To Be Well Capitalized Under Prompt Corrective Action Provision, Ratio | 8.00% | 8.00% |
Total risk-based capital ratios, Actual, Amount | $ 1,656,717 | $ 1,000,234 |
Total risk-based capital ratios, Actual, Ratio | 14.52% | 12.07% |
Total risk-based capital ratios, Minimum To Be Well Capitalized Under Prompt Corrective Action Provision, Amount | $ 1,140,990 | $ 828,694 |
Total risk-based capital ratios, Minimum To Be Well Capitalized Under Prompt Corrective Action Provision, Ratio | 10.00% | 10.00% |
Basel III Phase-In Schedule [Member] | Home BancShares [Member] | ||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ||
Common equity Tier 1 capital ratios, Minimum Capital Requirement - Basel III Fully Phased-In, Amount | $ 656,973 | $ 425,762 |
Common equity Tier 1 capital ratios, Minimum Capital Requirement - Basel III Fully Phased-In, Ratio | 5.75% | 5.125% |
Leverage ratios, Minimum Capital Requirement - Basel III Fully Phased-In, Amount | $ 525,659 | $ 375,448 |
Leverage ratios, Minimum Capital Requirement - Basel III Fully Phased-In, Ratio | 4.00% | 4.00% |
Tier 1 capital ratios, Minimum Capital Requirement - Basel III Fully Phased-In, Amount | $ 828,268 | $ 550,385 |
Tier 1 capital ratios, Minimum Capital Requirement - Basel III Fully Phased-In, Ratio | 7.25% | 6.625% |
Total risk-based capital ratios, Minimum Capital Requirement - Basel III Fully Phased-In, Amount | $ 1,056,601 | $ 716,704 |
Total risk-based capital ratios, Minimum Capital Requirement - Basel III Fully Phased-In, Ratio | 9.25% | 8.625% |
Basel III Phase-In Schedule [Member] | Centennial Bank [Member] | ||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ||
Common equity Tier 1 capital ratios, Minimum Capital Requirement - Basel III Fully Phased-In, Amount | $ 656,243 | $ 424,882 |
Common equity Tier 1 capital ratios, Minimum Capital Requirement - Basel III Fully Phased-In, Ratio | 5.75% | 5.125% |
Leverage ratios, Minimum Capital Requirement - Basel III Fully Phased-In, Amount | $ 526,004 | $ 375,222 |
Leverage ratios, Minimum Capital Requirement - Basel III Fully Phased-In, Ratio | 4.00% | 4.00% |
Tier 1 capital ratios, Minimum Capital Requirement - Basel III Fully Phased-In, Amount | $ 827,437 | $ 549,238 |
Tier 1 capital ratios, Minimum Capital Requirement - Basel III Fully Phased-In, Ratio | 7.25% | 6.625% |
Total risk-based capital ratios, Minimum Capital Requirement - Basel III Fully Phased-In, Amount | $ 1,055,415 | $ 714,749 |
Total risk-based capital ratios, Minimum Capital Requirement - Basel III Fully Phased-In, Ratio | 9.25% | 8.625% |
Basel III Fully Phased-In [Member] | Home BancShares [Member] | ||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ||
Common equity Tier 1 capital ratios, Minimum Capital Requirement - Basel III Fully Phased-In, Amount | $ 799,793 | $ 581,529 |
Common equity Tier 1 capital ratios, Minimum Capital Requirement - Basel III Fully Phased-In, Ratio | 7.00% | 7.00% |
Leverage ratios, Minimum Capital Requirement - Basel III Fully Phased-In, Amount | $ 525,659 | $ 375,448 |
Leverage ratios, Minimum Capital Requirement - Basel III Fully Phased-In, Ratio | 4.00% | 4.00% |
Tier 1 capital ratios, Minimum Capital Requirement - Basel III Fully Phased-In, Amount | $ 971,073 | $ 706,154 |
Tier 1 capital ratios, Minimum Capital Requirement - Basel III Fully Phased-In, Ratio | 8.50% | 8.50% |
Total risk-based capital ratios, Minimum Capital Requirement - Basel III Fully Phased-In, Amount | $ 1,199,385 | $ 872,509 |
Total risk-based capital ratios, Minimum Capital Requirement - Basel III Fully Phased-In, Ratio | 10.50% | 10.50% |
Basel III Fully Phased-In [Member] | Centennial Bank [Member] | ||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ||
Common equity Tier 1 capital ratios, Minimum Capital Requirement - Basel III Fully Phased-In, Amount | $ 798,905 | $ 580,326 |
Common equity Tier 1 capital ratios, Minimum Capital Requirement - Basel III Fully Phased-In, Ratio | 7.00% | 7.00% |
Leverage ratios, Minimum Capital Requirement - Basel III Fully Phased-In, Amount | $ 526,004 | $ 375,222 |
Leverage ratios, Minimum Capital Requirement - Basel III Fully Phased-In, Ratio | 4.00% | 4.00% |
Tier 1 capital ratios, Minimum Capital Requirement - Basel III Fully Phased-In, Amount | $ 970,098 | $ 704,682 |
Tier 1 capital ratios, Minimum Capital Requirement - Basel III Fully Phased-In, Ratio | 8.50% | 8.50% |
Total risk-based capital ratios, Minimum Capital Requirement - Basel III Fully Phased-In, Amount | $ 1,198,039 | $ 870,129 |
Total risk-based capital ratios, Minimum Capital Requirement - Basel III Fully Phased-In, Ratio | 10.50% | 10.50% |
Additional Cash Flow Informa117
Additional Cash Flow Information - Additional Information (Detail) - USD ($) $ in Thousands | Sep. 26, 2017 | 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 | ||
Stonegate Bank [Member] | |||
Supplemental Cash Flow Information [Line Items] | |||
Business combination, common stock issued, shares | 30,863,658 | ||
Business combination, common stock issued, value | $ 742,300 | ||
Business combination consideration paid in cash | 50,100 | ||
Business combination, recognized identifiable assets acquired, Total Assets | 2,887,523 | ||
Business combination, recognized identifiable assets acquired, cash and cash equivalents | 100,958 | ||
Assets acquired and liabilities assumed net | 2,602,161 | ||
Cash paid for acquisition | $ 792,370 |
Additional Cash Flow Informa118
Additional Cash Flow Information - Summary of Additional Cash Flow Information (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Additional Cash Flow Elements and Supplemental Cash Flow Information [Abstract] | |||
Interest paid | $ 61,930 | $ 30,463 | $ 21,040 |
Income taxes paid | 124,830 | 81,900 | 79,740 |
Assets acquired by foreclosure | $ 10,318 | $ 10,957 | $ 19,874 |
Condensed Financial Informat119
Condensed Financial Information (Parent Company Only) - Schedule of Condensed Balance Sheets (Detail) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 |
Assets | ||||
Cash and cash equivalents | $ 635,933 | $ 216,649 | $ 255,823 | $ 112,528 |
Investment securities | 1,180,000 | 1,070,000 | ||
Premises and equipment | 237,439 | 205,301 | ||
Other assets | 177,779 | 129,300 | ||
Total assets | 14,449,760 | 9,808,465 | ||
Liabilities | ||||
Subordinated debentures | 368,031 | 60,826 | ||
Total liabilities | 12,245,469 | 8,480,975 | ||
Stockholders' Equity | ||||
Common stock | 1,736 | 1,405 | ||
Capital surplus | 1,675,318 | 869,737 | ||
Retained earnings | 530,658 | 455,948 | ||
Accumulated other comprehensive income (loss) | (3,421) | 400 | ||
Total stockholders' equity | 2,204,291 | 1,327,490 | 1,199,757 | 1,015,292 |
Total liabilities and stockholders' equity | 14,449,760 | 9,808,465 | ||
Home BancShares [Member] | ||||
Assets | ||||
Cash and cash equivalents | 44,046 | 53,589 | $ 68,674 | $ 58,721 |
Investment securities | 2,831 | 7,873 | ||
Investments in wholly-owned subsidiaries | 2,509,375 | 1,307,811 | ||
Investments in unconsolidated subsidiaries | 2,201 | 1,826 | ||
Premises and equipment | 7,026 | 7,126 | ||
Other assets | 12,530 | 12,107 | ||
Total assets | 2,578,009 | 1,390,332 | ||
Liabilities | ||||
Subordinated debentures | 368,031 | 60,826 | ||
Other liabilities | 5,687 | 2,016 | ||
Total liabilities | 373,718 | 62,842 | ||
Stockholders' Equity | ||||
Common stock | 1,736 | 1,405 | ||
Capital surplus | 1,675,318 | 869,737 | ||
Retained earnings | 530,658 | 455,948 | ||
Accumulated other comprehensive income (loss) | (3,421) | 400 | ||
Total stockholders' equity | 2,204,291 | 1,327,490 | ||
Total liabilities and stockholders' equity | $ 2,578,009 | $ 1,390,332 |
Condensed Financial Informat120
Condensed Financial Information (Parent Company Only) - Schedule of Condensed Statements of Income (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Income | |||
Net income | $ 135,083 | $ 177,146 | $ 138,199 |
Home BancShares [Member] | |||
Income | |||
Dividends from banking subsidiary | 86,695 | 44,623 | 76,168 |
Other income | 2,241 | 608 | 51 |
Total income | 88,936 | 45,231 | 76,219 |
Expenses | 26,634 | 12,514 | 8,387 |
Income before income taxes and equity in undistributed net income of subsidiaries | 62,302 | 32,717 | 67,832 |
Tax benefit for income taxes | 8,826 | 4,787 | 3,048 |
Income before equity in undistributed net income of subsidiaries | 71,128 | 37,504 | 70,880 |
Equity in undistributed net income of subsidiaries | 63,955 | 139,642 | 67,319 |
Net income | $ 135,083 | $ 177,146 | $ 138,199 |
Condensed Financial Informat121
Condensed Financial Information (Parent Company Only) - Schedule of Condensed Statements of Cash Flows (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Cash flows from operating activities | |||
Net income | $ 135,083 | $ 177,146 | $ 138,199 |
Items not requiring (providing) cash | |||
Depreciation | 11,995 | 10,644 | 10,296 |
Amortization/(accretion) | 17,638 | 15,495 | 21,783 |
Share-based compensation | 6,705 | 6,628 | 3,925 |
Tax benefit from stock options exercised | (4,154) | (605) | |
(Gain) loss on assets | (4,223) | 1,978 | (6) |
Changes in other assets | (37,285) | (11,520) | (10,312) |
Changes in other liabilities | (31,033) | 10,985 | 24,651 |
Net cash provided by (used in) operating activities | 176,910 | 218,044 | 205,063 |
Cash flows from investing activities | |||
Purchases of premises and equipment, net | (5,191) | (3,082) | (10,536) |
Net cash provided by (used in) investing activities | (355,470) | (601,026) | (752,209) |
Cash flows from financing activities | |||
Proceeds from exercise of stock options | 1,082 | 1,495 | 389 |
Common stock issuance costs - market acquisitions | (825) | (60) | |
Tax benefit from stock options exercised | 4,154 | 605 | |
Repurchase of common stock | (20,825) | (9,817) | (2,015) |
Proceeds from issuance of subordinated debt | 297,201 | ||
Dividends paid | (60,373) | (48,096) | (37,580) |
Net cash provided by (used in) financing activities | 597,844 | 343,808 | 690,441 |
Increase (decrease) in cash and cash equivalents | 419,284 | (39,174) | 143,295 |
Cash and cash equivalents - beginning of year | 216,649 | 255,823 | 112,528 |
Cash and cash equivalents - end of year | 635,933 | 216,649 | 255,823 |
Florida Business BancGroup Inc. [Member] | |||
Cash flows from financing activities | |||
Common stock issuance costs - market acquisitions | (60) | ||
Giant Holdings, Inc. [Member] | |||
Cash flows from financing activities | |||
Common stock issuance costs - market acquisitions | (195) | ||
Stonegate Bank [Member] | |||
Cash flows from financing activities | |||
Common stock issuance costs - market acquisitions | (630) | ||
Home BancShares [Member] | |||
Cash flows from operating activities | |||
Net income | 135,083 | 177,146 | 138,199 |
Items not requiring (providing) cash | |||
Depreciation | 213 | 141 | |
Amortization/(accretion) | 612 | 176 | |
Share-based compensation | 6,705 | 6,628 | 3,925 |
Tax benefit from stock options exercised | (4,154) | (605) | |
(Gain) loss on assets | (2,393) | (410) | |
Equity in undistributed income of subsidiaries | (63,955) | (139,642) | (67,319) |
Changes in other assets | (10,748) | 5,888 | 5,308 |
Changes in other liabilities | 14,202 | (6,694) | (576) |
Net cash provided by (used in) operating activities | 79,719 | 39,079 | 78,932 |
Cash flows from investing activities | |||
Purchases of premises and equipment, net | (4,075) | (7,273) | (5,927) |
Proceeds from sale of premises and equipment, net | 3,957 | 3,293 | |
Capital contribution to subsidiary | (250,000) | (24) | |
Disposition of RCA Air, LLC | 382 | ||
Proceeds from sale of investment securities | 5,629 | 2,104 | |
Purchase of investment securities | (6,946) | ||
Net cash provided by (used in) investing activities | (305,522) | (1,900) | (30,318) |
Cash flows from financing activities | |||
Proceeds from exercise of stock options | 1,082 | 1,495 | 389 |
Common stock issuance costs - market acquisitions | (825) | (60) | |
Tax benefit from stock options exercised | 4,154 | 605 | |
Repurchase of common stock | (20,825) | (9,817) | (2,015) |
Proceeds from issuance of subordinated debt | 297,201 | ||
Dividends paid | (60,373) | (48,096) | (37,580) |
Net cash provided by (used in) financing activities | 216,260 | (52,264) | (38,661) |
Increase (decrease) in cash and cash equivalents | (9,543) | (15,085) | 9,953 |
Cash and cash equivalents - beginning of year | 53,589 | 68,674 | 58,721 |
Cash and cash equivalents - end of year | 44,046 | $ 53,589 | 68,674 |
Home BancShares [Member] | Florida Business BancGroup Inc. [Member] | |||
Cash flows from investing activities | |||
Purchase of business | $ (17,445) | ||
Home BancShares [Member] | Giant Holdings, Inc. [Member] | |||
Cash flows from investing activities | |||
Purchase of business | (16,591) | ||
Home BancShares [Member] | The Bank of Commerce [Member] | |||
Cash flows from investing activities | |||
Purchase of business | (4,175) | ||
Home BancShares [Member] | Stonegate Bank [Member] | |||
Cash flows from investing activities | |||
Purchase of business | $ (40,649) |
Recent Accounting Pronouncem122
Recent Accounting Pronouncements - Additional Information (Detail) | 12 Months Ended | |||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||
Federal income tax rate | 35.00% | 35.00% | 35.00% | |
Scenario, Forecast [Member] | ||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||
Federal income tax rate | 21.00% |