Document and Entity Information
Document and Entity Information - shares | 3 Months Ended | |
Mar. 31, 2018 | May 07, 2018 | |
Document And Entity Information [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Mar. 31, 2018 | |
Document Fiscal Year Focus | 2,018 | |
Document Fiscal Period Focus | Q1 | |
Trading Symbol | HOMB | |
Entity Registrant Name | HOME BANCSHARES INC | |
Entity Central Index Key | 1,331,520 | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Large Accelerated Filer | |
Entity Common Stock, Shares Outstanding | 173,371,669 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Assets | ||
Cash and due from banks | $ 185,479 | $ 166,915 |
Interest-bearing deposits with other banks | 325,122 | 469,018 |
Cash and cash equivalents | 510,601 | 635,933 |
Federal funds sold | 1,825 | 24,109 |
Investment securities - available-for-sale | 1,693,018 | 1,663,517 |
Investment securities - held-to-maturity | 213,731 | 224,756 |
Loans receivable | 10,325,736 | 10,331,188 |
Allowance for loan losses | (110,212) | (110,266) |
Loans receivable, net | 10,215,524 | 10,220,922 |
Bank premises and equipment, net | 235,607 | 237,439 |
Foreclosed assets held for sale | 20,134 | 18,867 |
Cash value of life insurance | 147,424 | 146,866 |
Accrued interest receivable | 45,361 | 45,708 |
Deferred tax asset, net | 78,328 | 76,564 |
Goodwill | 927,949 | 927,949 |
Core deposit and other intangibles | 47,726 | 49,351 |
Other assets | 186,001 | 177,779 |
Total assets | 14,323,229 | 14,449,760 |
Deposits: | ||
Demand and non-interest-bearing | 2,473,602 | 2,385,252 |
Savings and interest-bearing transaction accounts | 6,437,408 | 6,476,819 |
Time deposits | 1,485,605 | 1,526,431 |
Total deposits | 10,396,615 | 10,388,502 |
Securities sold under agreements to repurchase | 150,315 | 147,789 |
FHLB and other borrowed funds | 1,115,061 | 1,299,188 |
Accrued interest payable and other liabilities | 54,845 | 41,959 |
Subordinated debentures | 368,212 | 368,031 |
Total liabilities | 12,085,048 | 12,245,469 |
Stockholders' equity: | ||
Common stock, par value $0.01; shares authorized 200,000,000 in 2018 and 2017; shares issued and outstanding 173,603,132 in 2018 and 173,632,983 in 2017 | 1,736 | 1,736 |
Capital surplus | 1,671,141 | 1,675,318 |
Retained earnings | 585,586 | 530,658 |
Accumulated other comprehensive loss | (20,282) | (3,421) |
Total stockholders' equity | 2,238,181 | 2,204,291 |
Total liabilities and stockholders' equity | $ 14,323,229 | $ 14,449,760 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - $ / shares | Mar. 31, 2018 | Dec. 31, 2017 |
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 | 173,603,132 | 173,632,983 |
Common stock, shares outstanding | 173,603,132 | 173,632,983 |
Consolidated Statements of Inco
Consolidated Statements of Income - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Interest income: | ||
Loans | $ 148,065 | $ 105,762 |
Investment securities | ||
Taxable | 8,970 | 5,478 |
Tax-exempt | 3,006 | 2,944 |
Deposits - other banks | 929 | 308 |
Federal funds sold | 6 | 2 |
Total interest income | 160,976 | 114,494 |
Interest expense: | ||
Interest on deposits | 14,806 | 5,486 |
Federal funds purchased | 1 | |
FHLB and other borrowed funds | 4,580 | 3,589 |
Securities sold under agreements to repurchase | 376 | 165 |
Subordinated debentures | 5,004 | 439 |
Total interest expense | 24,767 | 9,679 |
Net interest income | 136,209 | 104,815 |
Provision for loan losses | 1,600 | 3,914 |
Net interest income after provision for loan losses | 134,609 | 100,901 |
Non-interest income: | ||
Service charges on deposit accounts | 6,075 | 5,982 |
Other service charges and fees | 10,155 | 8,917 |
Trust fees | 446 | 456 |
Mortgage lending income | 2,657 | 2,791 |
Insurance commissions | 679 | 545 |
Increase in cash value of life insurance | 654 | 310 |
Dividends from FHLB, FRB, Bankers' Bank & other | 877 | 1,149 |
Gain on acquisitions | 3,807 | |
Gain on sale of SBA loans | 182 | 188 |
Gain (loss) on sale of branches, equipment and other assets, net | 7 | (56) |
Gain (loss) on OREO, net | 405 | 121 |
Gain (loss) on securities, net | 423 | |
Other income | 3,668 | 1,837 |
Total non-interest income | 25,805 | 26,470 |
Non-interest expense: | ||
Salaries and employee benefits | 35,014 | 27,421 |
Occupancy and equipment | 8,983 | 6,681 |
Data processing expense | 3,986 | 2,723 |
Other operating expenses | 15,397 | 18,316 |
Total non-interest expense | 63,380 | 55,141 |
Income before income taxes | 97,034 | 72,230 |
Income tax expense | 23,970 | 25,374 |
Net income | $ 73,064 | $ 46,856 |
Basic earnings per share | $ 0.42 | $ 0.33 |
Diluted earnings per share | $ 0.42 | $ 0.33 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Statement of Comprehensive Income [Abstract] | ||
Net income available to all stockholders | $ 73,064 | $ 46,856 |
Net unrealized gain (loss) on available-for-sale securities | (21,633) | 1,428 |
Less: reclassification adjustment for realized (gains) losses included in income | (423) | |
Other comprehensive income (loss), before tax effect | (21,633) | 1,005 |
Tax effect on other comprehensive (loss) income | 5,762 | (395) |
Other comprehensive income (loss) | (15,871) | 610 |
Comprehensive income | $ 57,193 | $ 47,466 |
Consolidated Statements of Stoc
Consolidated Statements of Stockholders' Equity - USD ($) | Total | Giant Holdings, Inc. [Member] | Stonegate Bank [Member] | Common Stock [Member] | Common Stock [Member]Giant Holdings, Inc. [Member] | Common Stock [Member]Stonegate Bank [Member] | Capital Surplus [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, 2016 | $ 1,327,490,000 | $ 1,405,000 | $ 869,737,000 | $ 455,948,000 | $ 400,000 | ||||||||
Comprehensive income: | |||||||||||||
Net income | 46,856,000 | 46,856,000 | |||||||||||
Other comprehensive income (loss) | 610,000 | 610,000 | |||||||||||
Net issuance of shares of common stock from exercise of stock options | 102,000 | 1,000 | 101,000 | ||||||||||
Issuance of common stock | $ 77,317,000 | $ 27,000 | $ 77,290,000 | ||||||||||
Share-based compensation net issuance of shares of restricted common stock | 1,855,000 | 1,000 | 1,854,000 | ||||||||||
Cash dividends - Common Stock | (12,662,000) | (12,662,000) | |||||||||||
Ending balance at Mar. 31, 2017 | 1,441,568,000 | 1,434,000 | 948,982,000 | 490,142,000 | 1,010,000 | ||||||||
Beginning Balance at Dec. 31, 2016 | 1,327,490,000 | 1,405,000 | 869,737,000 | 455,948,000 | 400,000 | ||||||||
Comprehensive income: | |||||||||||||
Net income | 88,227,000 | 88,227,000 | |||||||||||
Other comprehensive income (loss) | (4,431,000) | (4,431,000) | |||||||||||
Net issuance of shares of common stock from exercise of stock options | 980,000 | 1,000 | 979,000 | ||||||||||
Issuance of common stock | $ 741,633,000 | $ 309,000 | $ 741,324,000 | ||||||||||
Repurchase of shares of common stock | (20,825,000) | (9,000) | (20,816,000) | ||||||||||
Share-based compensation net issuance of shares of restricted common stock | 4,850,000 | 1,000 | 4,849,000 | ||||||||||
Cash dividends - Common Stock | (47,711,000) | (47,711,000) | |||||||||||
Ending balance at Dec. 31, 2017 | 2,204,291,000 | 1,736,000 | 1,675,318,000 | 530,658,000 | (3,421,000) | ||||||||
Comprehensive income: | |||||||||||||
Net income | 73,064,000 | 73,064,000 | |||||||||||
Other comprehensive income (loss) | (15,871,000) | (15,871,000) | |||||||||||
Net issuance of shares of common stock from exercise of stock options | 900,000 | 1,000 | 899,000 | ||||||||||
Impact of adoption of new accounting standards | 990,000 | 990,000 | [1] | (990,000) | [1] | ||||||||
Repurchase of shares of common stock | (7,114,000) | (3,000) | (7,111,000) | ||||||||||
Share-based compensation net issuance of shares of restricted common stock | 2,037,000 | 2,000 | 2,035,000 | ||||||||||
Cash dividends - Common Stock | (19,126,000) | (19,126,000) | |||||||||||
Ending balance at Mar. 31, 2018 | $ 2,238,181,000 | $ 1,736,000 | $ 1,671,141,000 | $ 585,586,000 | $ (20,282,000) | ||||||||
[1] | Represents the impact of adopting Accounting Standard Update ("ASU") 2016-01. See Note 1 to the consolidated financial statements for more information. |
Consolidated Statements of Sto7
Consolidated Statements of Stockholders' Equity (Parenthetical) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | Dec. 31, 2017 | |
Net issuance of shares of common stock from exercise of stock options | 142,116 | 91,081 | 94,035 |
Common stock shares repurchased | 303,637 | 857,800 | |
Issuance of restricted common stock | 147,000 | 140,500 | 91,266 |
Common stock, cash dividends per share | $ 0.1100 | $ 0.0900 | $ 0.3100 |
Net issuance cost of common stock | $ 195 | ||
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 | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Operating Activities | ||
Net income | $ 73,064 | $ 46,856 |
Adjustments to reconcile net income to net cash provided by (used in) operating activities: | ||
Depreciation | 3,317 | 2,674 |
Amortization/(accretion) | 5,127 | 3,724 |
Share-based compensation | 2,037 | 1,855 |
(Gain) loss on assets | 1,962 | (833) |
Gain on acquisitions | (3,807) | |
Provision for loan losses | 1,600 | 3,914 |
Deferred income tax effect | 3,998 | 2,130 |
Increase in cash value of life insurance | (654) | (310) |
Originations of mortgage loans held for sale | (72,636) | (78,691) |
Proceeds from sales of mortgage loans held for sale | 80,250 | 84,244 |
Changes in assets and liabilities: | ||
Accrued interest receivable | 347 | (244) |
Indemnification and other assets | (8,219) | (1,645) |
Accrued interest payable and other liabilities | 12,886 | 3,012 |
Net cash provided by (used in) operating activities | 103,079 | 62,879 |
Investing Activities | ||
Net (increase) decrease in federal funds sold | 22,284 | (150) |
Net (increase) decrease in loans, excluding purchased loans | (10,724) | (29,229) |
Purchases of investment securities - available-for-sale | (141,812) | (206,216) |
Proceeds from maturities of investment securities - available-for-sale | 86,674 | 39,615 |
Proceeds from sale of investment securities - available-for-sale | 809 | 15,538 |
Purchases of investment securities - held-to-maturity | (163) | |
Proceeds from maturities of investment securities - held-to-maturity | 10,899 | 7,411 |
Proceeds from foreclosed assets held for sale | 3,391 | 6,165 |
Proceeds from sale of SBA Loans | 2,837 | 4,170 |
Purchases of premises and equipment, net | (3,941) | (5,636) |
Return of investment on cash value of life insurance | 592 | |
Net cash proceeds (paid) received - market acquisitions | 41,363 | |
Net cash provided by (used in) investing activities | (29,583) | (126,540) |
Financing Activities | ||
Net increase (decrease) in deposits, excluding deposits acquired | 8,113 | 181,025 |
Net increase (decrease) in securities sold under agreements to repurchase | 2,526 | 2,503 |
Net increase (decrease) in FHLB and other borrowed funds | (184,127) | 93,328 |
Proceeds from exercise of stock options | 900 | 102 |
Repurchase of common stock | (7,114) | |
Common stock issuance costs - market acquisitions | (195) | |
Tax benefits from stock options exercised | 0 | 0 |
Dividends paid on common stock | (19,126) | (12,662) |
Net cash provided by (used in) financing activities | (198,828) | 264,101 |
Net change in cash and cash equivalents | (125,332) | 200,440 |
Cash and cash equivalents - beginning of year | 635,933 | 216,649 |
Cash and cash equivalents - end of period | $ 510,601 | $ 417,089 |
Nature of Operations and Summar
Nature of Operations and Summary of Significant Accounting Policies | 3 Months Ended |
Mar. 31, 2018 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Nature of Operations and Summary of Significant Accounting Policies | 1. Nature of Operations and Summary of Significant Accounting Policies Nature of Operations Home BancShares, Inc. (the “Company” or “HBI”) is a bank holding company headquartered in Conway, Arkansas. The Company is primarily engaged in providing a full range of banking services to individual and corporate customers through its wholly-owned community bank subsidiary – Centennial Bank (sometimes referred to as “Centennial” or the “Bank”). The Bank has branch locations in Arkansas, Florida, South Alabama and New York City. The Company is subject to competition from other financial institutions. The Company also is subject to the regulation of certain federal and state agencies and undergoes periodic examinations by those regulatory authorities. A summary of the significant accounting policies of the Company follows: Operating Segments Operating segments are components of an enterprise about which separate financial information is available that is evaluated regularly by the chief operating decision maker in deciding how to allocate resources and in assessing performance. The Bank is the only significant subsidiary upon which management makes decisions regarding how to allocate resources and assess performance. Each of the branches of the Bank provide a group of similar 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. Interim financial information The accompanying unaudited consolidated financial statements as of March 31, 2018 and 2017 have been prepared in condensed format, and therefore do not include all of the information and footnotes required by accounting principles generally accepted in the United States of America for complete financial statements. The information furnished in these interim statements reflects all adjustments which are, in the opinion of management, necessary for a fair statement of the results for each respective period presented. Such adjustments are of a normal recurring nature. The results of operations in the interim statements are not necessarily indicative of the results that may be expected for any other quarter or for the full year. The interim financial information should be read in conjunction with the consolidated financial statements and notes thereto included in the Company’s 2017 Form 10-K, Revenue Recognition. Accounting Standards Codification (“ASC”) Topic 606, Revenue from Contracts with Customers • Service charges on deposit accounts – These represent general service fees for monthly account maintenance and activity or transaction based fees and consist of transaction-based revenue, time-based revenue (service period), item-based revenue or some other individual attribute-based revenue. Revenue is recognized when our performance obligation is completed which is generally monthly for account maintenance services or when a transaction has been completed (such as a wire transfer). Payment for such performance obligations are generally received at the time the performance obligations are satisfied. • Other service charges and fees – These represent credit card interchange fees and Centennial CFG loan fees. The interchange fees are recorded in the period the performance obligation is satisfied which is generally the cash basis based on an agreed upon contract with Mastercard. The Centennial CFG loan fees are based on loan or other negotiated agreements with customers and are accounted for under ASC Topic 310. • Mortgage lending income – This represents fee income on secondary market lending which is accounted for under ASC Topic 310 and transfer of loans based on a “bid” agreement with the investor which is accounted for under ASC Topic 860, Transfers and Servicing. Earnings per Share Basic earnings per share is computed based on the weighted-average number of shares outstanding during each year. Diluted earnings per share is computed using the weighted-average shares and all potential dilutive shares outstanding during the period. The following table sets forth the computation of basic and diluted earnings per share (“EPS”) for the following periods: Three Months Ended March 31, 2018 2017 (In thousands, except per share data) Net income $ 73,064 $ 46,856 Average shares outstanding 173,761 141,785 Effect of common stock based compensation 622 707 Average diluted shares outstanding 174,383 142,492 Basic earnings per share $ 0.42 $ 0.33 Diluted earnings per share 0.42 0.33 |
Business Combinations
Business Combinations | 3 Months Ended |
Mar. 31, 2018 | |
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 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 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, under which the Company submitted an initial bid to purchase the outstanding shares of BOC and was deemed to be the successful bidder after a subsequent auction was held. 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 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 |
Investment Securities
Investment Securities | 3 Months Ended |
Mar. 31, 2018 | |
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 March 31, 2018 Available-for-Sale Amortized Gross Gross Estimated (In thousands) U.S. government-sponsored enterprises $ 395,309 $ 937 $ (4,159 ) $ 392,087 Residential mortgage-backed securities 515,792 441 (11,852 ) 504,381 Commercial mortgage-backed securities 517,551 71 (12,883 ) 504,739 State and political subdivisions 253,766 2,224 (3,141 ) 252,849 Other securities 37,821 1,458 (317 ) 38,962 Total $ 1,720,239 $ 5,131 $ (32,352 ) $ 1,693,018 Held-to-Maturity Amortized Gross Gross Estimated (In thousands) U.S. government-sponsored enterprises $ 4,043 $ — $ (14 ) $ 4,029 Residential mortgage-backed securities 54,057 27 (1,055 ) 53,029 Commercial mortgage-backed securities 15,970 23 (268 ) 15,725 State and political subdivisions 139,661 1,818 (130 ) 141,349 Total $ 213,731 $ 1,868 $ (1,467 ) $ 214,132 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 Assets, principally investment securities, having a carrying value of approximately $1.19 and $1.18 billion at March 31, 2018 and December 31, 2017, 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 $150.3 and $147.8 million at March 31, 2018 and December 31, 2017, 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 (In thousands) Due in one year or less $ 294,998 $ 292,191 $ 60,454 $ 61,310 Due after one year through five years 936,617 922,056 91,149 91,000 Due after five years through ten years 367,552 360,108 12,183 12,006 Due after ten years 121,072 118,663 49,945 49,816 Total $ 1,720,239 $ 1,693,018 $ 213,731 $ 214,132 For purposes of the maturity tables, mortgage-backed securities, which are not due at a single maturity date, have been allocated over maturity groupings based on anticipated maturities. The mortgage-backed securities may mature earlier than their weighted-average contractual maturities because of principal prepayments. During the three-month period ended March 31, 2018, approximately $809,000 in available-for-sale During the three-month period ended March 31, 2017, approximately $15.2 million, in available-for-sale The Company evaluates all securities quarterly to determine if any unrealized losses are deemed to be other than temporary. In completing these evaluations the Company follows the requirements of FASB ASC 320, Investments - Debt and Equity Securities. During the three-month period ended March 31, 2018, no securities were deemed to have other-than-temporary impairment. For the three months ended March 31, 2018, the Company had investment securities with approximately $9.3 million in unrealized losses, which have been in continuous loss positions for more than twelve months. Excluding impairment write downs taken in prior periods, the Company’s assessments indicated that the cause of the market depreciation was primarily the change in interest rates and not the issuer’s financial condition, or downgrades by rating agencies. In addition, approximately 71.6% 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. The following shows gross unrealized losses and estimated fair value of investment securities classified as available-for-sale held-to-maturity March 31, 2018 Less Than 12 Months 12 Months or More Total Fair Value Unrealized Fair Value Unrealized Fair Value Unrealized (In thousands) U.S. government-sponsored enterprises $ 215,209 $ (3,024 ) $ 44,139 $ (1,149 ) $ 259,348 $ (4,173 ) Residential mortgage-backed securities 406,785 (9,538 ) 101,902 (3,369 ) 508,687 (12,907 ) Commercial mortgage-backed securities 367,845 (9,635 ) 115,292 (3,516 ) 483,137 (13,151 ) State and political subdivisions 102,212 (2,278 ) 20,638 (993 ) 122,850 (3,271 ) Other securities — — 9,767 (317 ) 9,767 (317 ) Total $ 1,092,051 $ (24,475 ) $ 291,738 $ (9,344 ) $ 1,383,789 $ (33,819 ) December 31, 2017 Less Than 12 Months 12 Months or More Total Fair Value Unrealized Fair Value Unrealized Fair Value Unrealized (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 ) Income earned on securities for the three months ended March 31, 2018 and 2017, is as follows: Three Months Ended March 31, 2018 2017 (In thousands) Taxable: Available-for-sale $ 8,465 $ 4,794 Held-to-maturity 505 684 Non-taxable: Available-for-sale 1,349 1,547 Held-to-maturity 1,657 1,397 Total $ 11,976 $ 8,422 |
Loans Receivable
Loans Receivable | 3 Months Ended |
Mar. 31, 2018 | |
Receivables [Abstract] | |
Loans Receivable | 4. Loans Receivable The various categories of loans receivable are summarized as follows: March 31, December 31, 2018 2017 (In thousands) Real estate: Commercial real estate loans Non-farm/non-residential $ 4,658,209 $ 4,600,117 Construction/land development 1,641,834 1,700,491 Agricultural 81,151 82,229 Residential real estate loans Residential 1-4 1,915,346 1,970,311 Multifamily residential 464,194 441,303 Total real estate 8,760,734 8,794,451 Consumer 40,842 46,148 Commercial and industrial 1,324,173 1,297,397 Agricultural 50,770 49,815 Other 149,217 143,377 Total loans receivable $ 10,325,736 $ 10,331,188 During the three-month period ended March 31, 2018, the Company sold $2.7 million of the guaranteed portion of certain SBA loans, which resulted in a gain of approximately $182,000. During the three-month period ended March 31, 2017, the Company sold $4.0 million of the guaranteed portion of certain SBA loans, which resulted in a gain of approximately $188,000. Mortgage loans held for sale of approximately $36.7 million and $44.3 million at March 31, 2018 and December 31, 2017, respectively, are included in residential 1-4 The Company had $3.23 billion of purchased loans, which includes $137.4 million of discount for credit losses on purchased loans, at March 31, 2018. The Company had $49.4 million and $88.0 million remaining of non-accretable non-accretable |
Allowance for Loan Losses, Cred
Allowance for Loan Losses, Credit Quality and Other | 3 Months Ended |
Mar. 31, 2018 | |
Text Block [Abstract] | |
Allowance for Loan Losses, Credit Quality and Other | 5. Allowance for Loan Losses, Credit Quality and Other The Company’s allowance for loan loss as March 31, 2018 and December 31, 2017 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. As of March 31, 2018, 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: Three Months Ended March 31, 2018 (In thousands) Allowance for loan losses: Beginning balance $ 110,266 Loans charged off (2,540 ) Recoveries of loans previously charged off 886 Net loans recovered (charged off) (1,654 ) Provision for loan losses 1,600 Balance, March 31, 2018 $ 110,212 The following tables present the balance in the allowance for loan losses for the three-month period ended March 31, 2018, and the allowance for loan losses and recorded investment in loans based on portfolio segment by impairment method as of March 31, 2018. Allocation of a portion of the allowance to one type of loans does not preclude its availability to absorb losses in other categories. Three Months Ended March 31, 2018 Construction/ Land Other Commercial Residential Real Commercial & Consumer & Other Unallocated Total (In thousands) Allowance for loan losses: Beginning balance $ 20,343 $ 43,939 $ 24,506 $ 15,292 $ 3,334 $ 2,852 $ 110,266 Loans charged off (8 ) (447 ) (779 ) (814 ) (492 ) — (2,540 ) Recoveries of loans previously charged off 30 101 361 98 296 — 886 Net loans recovered (charged off) 22 (346 ) (418 ) (716 ) (196 ) — (1,654 ) Provision for loan losses (261 ) 1,238 (474 ) 1,617 109 (629 ) 1,600 Balance, March 31 $ 20,104 $ 44,831 $ 23,614 $ 16,193 $ 3,247 $ 2,223 $ 110,212 As of March 31, 2018 Construction/ Land Other Commercial Residential Real Estate Commercial & Industrial Consumer & Other Unallocated Total (In thousands) Allowance for loan losses: Period end amount allocated to: Loans individually evaluated for impairment $ 1,173 $ 686 $ 159 $ 1,590 $ — $ — $ 3,608 Loans collectively evaluated for impairment 18,872 43,667 22,617 14,304 3,236 2,223 104,919 Loans evaluated for impairment balance, March 31 20,045 44,353 22,776 15,894 3,236 2,223 108,527 Purchased credit impaired loans 59 478 838 299 11 — 1,685 Balance, March 31 $ 20,104 $ 44,831 $ 23,614 $ 16,193 $ 3,247 $ 2,223 $ 110,212 Loans receivable: Period end amount allocated to: Loans individually evaluated for impairment $ 20,927 $ 124,402 $ 22,379 $ 33,536 $ 391 $ — $ 201,635 Loans collectively evaluated for impairment 1,606,930 4,508,644 2,311,646 1,276,843 238,180 — 9,942,243 Loans evaluated for impairment balance, March 31 1,627,857 4,633,046 2,334,025 1,310,379 238,571 — 10,143,878 Purchased credit impaired loans 13,977 106,314 45,515 13,794 2,258 — 181,858 Balance, March 31 $ 1,641,834 $ 4,739,360 $ 2,379,540 $ 1,324,173 $ 240,829 $ — $ 10,325,736 The following tables present the balances in the allowance for loan losses for the three-month period ended March 31, 2017 and the year ended December 31, 2017, and the allowance for loan losses and recorded investment in loans receivable 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 (In thousands) Allowance for loan losses: Beginning balance $ 11,522 $ 28,188 $ 16,517 $ 12,756 $ 4,188 $ 6,831 $ 80,002 Loans charged off (207 ) (1,464 ) (1,891 ) (645 ) (499 ) — (4,706 ) Recoveries of loans previously charged off 199 331 133 182 256 — 1,101 Net loans recovered (charged off) (8 ) (1,133 ) (1,758 ) (463 ) (243 ) — (3,605 ) Provision for loan losses 559 1,868 3,481 1,091 (575 ) (2,510 ) 3,914 Balance, March 31 12,073 28,923 18,240 13,384 3,370 4,321 80,311 Loans charged off (1,425 ) (2,285 ) (2,089 ) (4,933 ) (2,033 ) — (12,765 ) Recoveries of loans previously charged off 263 711 543 282 585 — 2,384 Net loans recovered (charged off) (1,162 ) (1,574 ) (1,546 ) (4,651 ) (1,448 ) — (10,381 ) Provision for loan losses 9,432 16,590 7,812 6,559 1,412 (1,469 ) 40,336 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 (In thousands) Allowance for loan losses: 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 is an aging analysis for loans receivable as of March 31, 2018 and December 31, 2017: March 31, 2018 Loans Past Due 30-59 Days Loans Past Due 60-89 Days Loans Past Due 90 Days or More Total Past Due Current Loans Total Loans Receivable Accruing Loans Past Due 90 Days or More (In thousands) Real estate: Commercial real estate loans Non-farm/non-residential $ 1,126 $ 8,043 $ 14,011 $ 23,180 $ 4,635,029 $ 4,658,209 $ 5,300 Construction/land development 429 1,000 8,768 10,197 1,631,637 1,641,834 3,278 Agricultural 45 — 276 321 80,830 81,151 — Residential real estate loans Residential 1-4 3,436 2,216 18,487 24,139 1,891,207 1,915,346 2,451 Multifamily residential 472 — 251 723 463,471 464,194 99 Total real estate 5,508 11,259 41,793 58,560 8,702,174 8,760,734 11,128 Consumer 74 36 196 306 40,536 40,842 27 Commercial and industrial 2,234 1,283 7,321 10,838 1,313,335 1,324,173 2,068 Agricultural and other 1,308 8 179 1,495 198,492 199,987 — Total $ 9,124 $ 12,586 $ 49,489 $ 71,199 $ 10,254,537 $ 10,325,736 $ 13,223 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 (In thousands) Real estate: 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 Non-accruing The following is a summary of the impaired loans as of March 31, 2018 and December 31, 2017: March 31, 2018 Three Months Ended Unpaid Total Allocation of Allowance Average Interest Recognized (In thousands) Loans without a specific valuation allowance Real estate: Commercial real estate loans Non-farm/non-residential $ 29 $ 29 $ — $ 29 $ — Construction/land development 19 19 — 42 — Agricultural 17 17 — 18 — Residential real estate loans Residential 1-4 155 155 — 135 3 Multifamily residential — — — — — Total real estate 220 220 — 224 3 Consumer 16 16 — 17 — Commercial and industrial 202 202 — 154 3 Agricultural and other — — — — — Total loans without a specific valuation allowance 438 438 — 395 6 Loans with a specific valuation allowance Real estate: Commercial real estate loans Non-farm/non-residential 33,188 31,283 676 30,161 371 Construction/land development 13,264 12,208 1,173 12,183 87 Agricultural 540 544 10 414 7 Residential real estate loans Residential 1-4 23,752 20,511 100 19,600 322 Multifamily residential 1,737 1,714 59 1,670 19 Total real estate 72,481 66,260 2,018 64,028 806 Consumer 201 195 — 184 18 Commercial and industrial 23,524 15,885 1,590 14,445 150 Agricultural and other 179 179 — 244 3 Total loans with a specific valuation allowance 96,385 82,519 3,608 78,901 977 Total impaired loans Real estate: Commercial real estate loans Non-farm/non-residential 33,217 31,312 676 30,190 371 Construction/land development 13,283 12,227 1,173 12,225 87 Agricultural 557 561 10 432 7 Residential real estate loans Residential 1-4 23,907 20,666 100 19,735 325 Multifamily residential 1,737 1,714 59 1,670 19 Total real estate 72,701 66,480 2,018 64,252 809 Consumer 217 211 — 201 18 Commercial and industrial 23,726 16,087 1,590 14,599 153 Agricultural and other 179 179 — 244 3 Total impaired loans $ 96,823 $ 82,957 $ 3,608 $ 79,296 $ 983 Note 310-30. December 31, 2017 Year Ended Unpaid Total Allocation of Allowance Average Interest Recognized (In thousands) Loans without a specific valuation allowance Real estate: Commercial real estate loans Non-farm/non-residential $ 29 $ 29 $ — $ 23 $ 2 Construction/land development 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. Interest recognized on impaired loans during the three months ended March 31, 2018 and 2017 was approximately $983,000 and $514,000, 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) March 31, 2018 Risk Rated 6 Risk Rated 7 Risk Rated 8 Classified Total (In thousands) Real estate: Commercial real estate loans Non-farm/non-residential $ 22,426 $ 568 $ — $ 22,994 Construction/land development 23,607 — — 23,607 Agricultural 573 — — 573 Residential real estate loans Residential 1-4 24,051 661 — 24,712 Multifamily residential 936 — — 936 Total real estate 71,593 1,229 — 72,822 Consumer 179 2 — 181 Commercial and industrial 14,636 249 — 14,885 Agricultural and other 195 3 — 198 Total risk rated loans $ 86,603 $ 1,483 $ — $ 88,086 December 31, 2017 Risk Rated 6 Risk Rated 7 Risk Rated 8 Classified Total (In thousands) Real estate: 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 risk rated loans $ 82,739 $ 1,375 $ — $ 84,114 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 March 31, 2018 and December 31, 2017: March 31, 2018 Risk Rated 1 Risk Rated 2 Risk Rated 3 Risk Rated 4 Risk Rated 5 Classified Total Total (In thousands) Real estate: Commercial real estate loans Non-farm/non-residential $ 1,009 $ 436 $ 2,635,934 $ 1,769,225 $ 122,506 $ 22,994 $ 4,552,104 Construction/land development 25 575 271,278 1,330,942 1,430 23,607 1,627,857 Agricultural — — 51,568 27,653 1,148 573 80,942 Residential real estate loans Residential 1-4 807 849 1,438,822 399,975 12,067 24,712 1,877,232 Multifamily residential — — 294,675 160,970 212 936 456,793 Total real estate 1,841 1,860 4,692,277 3,688,765 137,363 72,822 8,594,928 Consumer 12,391 724 18,742 7,809 73 181 39,920 Commercial and industrial 22,871 7,175 659,521 576,476 29,451 14,885 1,310,379 Agricultural and other 1,711 3,867 141,820 51,055 — 198 198,651 Total risk rated loans $ 38,814 $ 13,626 $ 5,512,360 $ 4,324,105 $ 166,887 $ 88,086 10,143,878 Purchased credit impaired loans 181,858 Total loans receivable $ 10,325,736 December 31, 2017 Risk Rated 1 Risk Rated 2 Risk Rated 3 Risk Rated 4 Risk Rated 5 Classified Total Total (In thousands) Real estate: Commercial real estate loans Non-farm/non-residential $ 1,015 $ 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 The following is a presentation of troubled debt restructurings (“TDRs”) by class as of March 31, 2018 and December 31, 2017: March 31, 2018 Number of Loans Pre- Modification Rate Modification Term Modification Rate & Term Modification Post- (Dollars in thousands) Real estate: Commercial real estate loans Non-farm/non-residential 15 $ 15,856 $ 8,770 $ 247 $ 5,502 $ 14,519 Construction/land development 3 641 555 72 — 627 Agricultural 2 345 282 20 — 302 Residential real estate loans Residential 1-4 17 3,605 1,626 77 1,194 2,897 Multifamily residential 3 1,701 1,327 — 287 1,614 Total real estate 40 22,148 12,560 416 6,983 19,959 Consumer 3 19 — 15 — 15 Commercial and industrial 11 1,201 704 47 — 751 Total 54 $ 23,368 $ 13,264 $ 478 $ 6,983 $ 20,725 December 31, 2017 Number of Loans Pre- Modification Rate Modification Term Modification Rate & Term Modification Post- (Dollars in thousands) Real estate: Commercial real estate loans Non-farm/non-residential 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 The following is a presentation of TDRs on non-accrual March 31, 2018 December 31, 2017 Number of Loans Recorded Balance Number of Loans Recorded Balance (Dollars in thousands) Real estate: Commercial real estate loans Non-farm/non-residential 1 $ 1,189 2 $ 1,161 Agricultural 1 20 1 22 Residential real estate loans Residential 1-4 6 807 8 850 Multifamily residential 1 152 1 153 Total real estate 9 2,168 12 2,186 Commercial and industrial 1 232 1 — Total 10 $ 2,400 13 $ 2,186 The following is a presentation of total foreclosed assets as of March 31, 2018 and December 31, 2017: March 31, 2018 December 31, 2017 (In thousands) Commercial real estate loans Non-farm/non-residential $ 8,720 $ 9,766 Construction/land development 5,292 5,920 Residential real estate loans Residential 1-4 5,660 2,654 Multifamily residential 462 527 Total foreclosed assets held for sale $ 20,134 $ 18,867 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 (In thousands) 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 three-month period ended March 31, 2018 for the Company’s acquisitions: Accretable Yield Carrying (In thousands) Balance at beginning of period $ 41,803 $ 198,052 Reforecasted future interest payments for loan pools 202 — Accretion recorded to interest income (4,670 ) 4,670 Adjustment to yield 1,589 — Transfers to foreclosed assets held for sale — (870 ) Payments received, net — (19,994 ) Balance at end of period $ 38,924 $ 181,858 The loan pools were evaluated by the Company and are currently forecasted to have a slower run-off During the 2018 impairment tests on the estimated cash flows of loans, the Company established that several loan pools were determined to have a materially projected credit improvement. As a result of this improvement, the Company will recognize approximately $1.6 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 | 3 Months Ended |
Mar. 31, 2018 | |
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 March 31, 2018 and December 31, 2017, were as follows: March 31, 2018 December 31, 2017 (In thousands) Goodwill Balance, beginning of period $ 927,949 $ 377,983 Acquisitions — 549,966 Balance, end of period $ 927,949 $ 927,949 March 31, 2018 December 31, 2017 (In thousands) Core Deposit and Other Intangibles Balance, beginning of period $ 49,351 $ 18,311 Acquisition — 4,378 Amortization expense (1,625 ) (804 ) Balance, March 31 $ 47,726 21,885 Acquisitions 30,869 Amortization expense (3,403 ) Balance, end of year $ 49,351 The carrying basis and accumulated amortization of core deposits and other intangibles at March 31, 2018 and December 31, 2017 were: March 31, 2018 December 31, 2017 (In thousands) Gross carrying basis $ 86,625 $ 86,625 Accumulated amortization (38,899 ) (37,274 ) Net carrying amount $ 47,726 $ 49,351 Core deposit and other intangible amortization expense was approximately $1.6 million and $804,000 for the three months ended March 31, 2018 and 2017, respectively. 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 at March 31, 2018 and December 31, 2017. Goodwill is tested annually for impairment during the fourth quarter. If the implied fair value of goodwill is lower than its carrying amount, goodwill impairment is indicated and goodwill is written down to its implied fair value. Subsequent increases in goodwill value are not recognized in the consolidated financial statements. |
Other Assets
Other Assets | 3 Months Ended |
Mar. 31, 2018 | |
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract] | |
Other Assets | 7. Other Assets Other assets consist primarily of equity securities without a readily determinable fair value and other miscellaneous assets. As of March 31, 2018 and December 31, 2017 other assets were $186.0 million and $177.8 million, respectively. The Company has equity securities without readily determinable fair values such as stock holdings in Federal Home Loan Bank (“FHLB”) and Federal Reserve Bank (“Federal Reserve”) which are outside the scope of ASC Topic 321, Investments – Equity Securities (“ASC Topic 321”) The Company has equity securities such as stock holdings in Bankers’ Bank and other miscellaneous holdings which are accounted for under ASC Topic 321. These equity securities without a readily determinable fair value were $23.8 million and $23.9 million at March 31, 2018 and December 31, 2017, respectively. It is not practical to determine the fair value of bank stocks due to restrictions placed on the transferability of Bankers’ Bank stock. Therefore, these are accounted for at cost as cost is considered to approximate fair value due to these securities having no recent trades. |
Deposits
Deposits | 3 Months Ended |
Mar. 31, 2018 | |
Banking and Thrift [Abstract] | |
Deposits | 8. Deposits The aggregate amount of time deposits with a minimum denomination of $250,000 was $580.9 million and $636.9 million at March 31, 2018 and December 31, 2017, respectively. The aggregate amount of time deposits with a minimum denomination of $100,000 was $1.00 billion and $998.3 million at March 31, 2018 and December 31, 2017, respectively. Interest expense applicable to certificates in excess of $100,000 totaled $2.8 million and $1.7 million for the three months ended March 31, 2018 and 2017, respectively. As of March 31, 2018 and December 31, 2017, brokered deposits were $962.3 million and $1.03 billion, respectively. Deposits totaling approximately $1.46 billion and $1.51 billion at March 31, 2018 and December 31, 2017, 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 | 3 Months Ended |
Mar. 31, 2018 | |
Brokers and Dealers [Abstract] | |
Securities Sold Under Agreements to Repurchase | 9. Securities Sold Under Agreements to Repurchase At March 31, 2018 and December 31, 2017, securities sold under agreements to repurchase totaled $150.3 million and $147.8 million, respectively. For the three-month periods ended March 31, 2018 and 2017, securities sold under agreements to repurchase daily weighted-average totaled $152.7 million and $124.1 million, respectively. The remaining contractual maturity of securities sold under agreements to repurchase in the consolidated balance sheets as of March 31, 2018 and December 31, 2017 is presented in the following tables: March 31, 2018 Overnight and Up to 30 30-90 Days Greater than Total (In thousands) Securities sold under agreements to repurchase: U.S. government-sponsored enterprises $ 18,506 $ — $ — $ — $ 18,506 Mortgage-backed securities 6,565 — — — 6,565 State and political subdivisions 101,722 — — — 101,722 Other securities 23,522 — — — 23,522 Total borrowings $ 150,315 $ — $ — $ — $ 150,315 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 |
FHLB Borrowed Funds
FHLB Borrowed Funds | 3 Months Ended |
Mar. 31, 2018 | |
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 $1.12 billion and $1.30 billion at March 31, 2018 and December 31, 2017, respectively. At March 31, 2018, $475.0 million and $640.1 million of the outstanding balance were issued as short-term and long-term advances, 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. The FHLB advances mature from the current year to 2027 with fixed interest rates ranging from 0.85% to 4.80% and are secured by loans and investments securities. Maturities of borrowings as of March 31, 2018 include: 2018 – $800.2 million; 2019 – $143.1 million; 2020 – $146.4 million; 2021 – zero; after 2021 – $25.4 million. Expected maturities will differ from contractual maturities because FHLB may have the right to call or HBI the right to prepay certain obligations. Additionally, the Company had $697.3 and $695.3 million at March 31, 2018 and December 31, 2017, respectively, in letters of credit under a FHLB blanket borrowing line of credit, which are used to collateralize public deposits at March 31, 2018 and December 31, 2017, respectively. |
Other Borrowings
Other Borrowings | 3 Months Ended |
Mar. 31, 2018 | |
Debt Disclosure [Abstract] | |
Other Borrowings | 11. Other Borrowings The Company had zero other borrowings at March 31, 2018. The Company took out a $20.0 million unsecured line of credit for general corporate purposes during 2015. The balance on this line of credit at March 31, 2018 and December 31, 2017 was zero. |
Subordinated Debentures
Subordinated Debentures | 3 Months Ended |
Mar. 31, 2018 | |
Brokers and Dealers [Abstract] | |
Subordinated Debentures | 12. Subordinated Debentures Subordinated debentures at March 31, 2018 and December 31, 2017 consisted of guaranteed payments on trust preferred securities with the following components: As of March 31, As of 2018 2017 (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 4,316 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 5,592 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 297,478 297,332 Total $ 368,212 $ 368,031 The Company holds trust preferred securities with a face amount of $73.3 million which are currently callable without penalty based on the terms of the specific agreements. The trust preferred securities are tax-advantaged The Bank acquired $12.5 million in trust preferred securities with a fair value of $9.9 million and $9.8 million at March 31, 2018 and December 31, 2017, respectively, from the Stonegate acquisition. The difference between the fair value purchased of $9.9 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. |
Income Taxes
Income Taxes | 3 Months Ended |
Mar. 31, 2018 | |
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 three-month periods ended March 31, 2018 and 2017: Three Months Ended March 31, 2018 2017 (In thousands) Current: Federal $ 15,005 $ 19,392 State 4,967 3,852 Total current 19,972 23,244 Deferred: Federal 3,004 1,777 State 994 353 Total deferred 3,998 2,130 Income tax expense $ 23,970 $ 25,374 The reconciliation between the statutory federal income tax rate and effective income tax rate is as follows for the three-month periods ended March 31, 2018 and 2017: Three Months Ended March 31, 2018 2017 Statutory federal income tax rate 21.00 % 35.00 % Effect of non-taxable (0.74 ) (1.51 ) Effect of gain on acquisitions — (1.84 ) Stock compensation (0.83 ) (1.09 ) State income taxes, net of federal benefit 4.10 3.93 Other 1.17 0.64 Effective income tax rate 24.70 % 35.13 % 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: March 31, 2018 December 31, 2017 (In thousands) Deferred tax assets: Allowance for loan losses $ 30,075 $ 29,515 Deferred compensation 1,093 1,142 Stock compensation 2,989 2,731 Real estate owned 1,565 1,731 Unrealized loss on securities available-for-sale 7,233 1,471 Loan discounts 28,246 32,784 Tax basis premium/discount on acquisitions 8,990 8,802 Investments 1,062 1,155 Other 11,677 11,663 Gross deferred tax assets 92,930 90,994 Deferred tax liabilities: Accelerated depreciation on premises and equipment 383 291 Core deposit intangibles 10,895 11,258 FHLB dividends 1,712 1,625 Other 1,612 1,256 Gross deferred tax liabilities 14,602 14,430 Net deferred tax assets $ 78,328 $ 76,564 The Company and its subsidiaries file income tax returns in the U.S. federal jurisdiction and the states of Arkansas, Alabama, Florida and New York. The Company is no longer subject to U.S. federal and state tax examinations by tax authorities for years before 2013. |
Common Stock, Compensation Plan
Common Stock, Compensation Plans and Other | 3 Months Ended |
Mar. 31, 2018 | |
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 February 21, 2018, 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 14,752,000 shares. During 2018, the Company utilized a portion of this stock repurchase program. During first three months of 2018, the Company repurchased a total of 303,637 shares with a weighted-average stock price of $23.41 per share. The 2018 earnings were used to fund the repurchases during the year. Shares repurchased under the program as of March 31, 2018 total 4,828,501 shares. The remaining balance available for repurchase is 9,923,499 shares at March 31, 2018. Stock Compensation Plans The Company has a stock option and performance incentive plan known as the Amended and Restated 2006 Stock Option and Performance Incentive Plan (the “Plan”). The purpose of the Plan is to attract and retain highly qualified officers, directors, key employees, and other persons, and to motivate those persons to improve the Company’s business results. On April 19, 2018 at the Annual Meeting of Shareholders of the Company, the shareholders approved, as proposed in the Proxy Statement, an amendment to the Plan to increase the number of shares of the Company’s common stock available for issuance under the Plan by 2,000,000 shares to 13,288,000 shares. The Plan provides for the granting of incentive and non-qualified The intrinsic value of the stock options outstanding and stock options vested at March 31, 2018 was $13.2 million and $8.0 million, respectively. Total unrecognized compensation cost, net of income tax benefit, related to non-vested non-vested The table below summarizes the stock option transactions under the Plan at March 31, 2018 and December 31, 2017 and changes during the three-month period and year then ended: For the Three Months For the Year Ended December 31, 2017 Shares (000) Weighted- Shares (000) Weighted- Outstanding, beginning of year 2,274 $ 16.23 2,397 $ 15.19 Granted — 80 25.96 Forfeited/Expired — — — Exercised (142 ) 8.82 (203 ) 7.82 Outstanding, end of period 2,132 16.72 2,274 16.23 Exercisable, end of period 933 $ 14.19 1,016 $ 13.55 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. No options were granted during the three months ended March 31, 2018. The weighted-average fair value of options granted during the year ended December 31, 2017 was $7.10 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. For the Three Months Ended For the Year Ended March 31, 2018 December 31, 2017 Expected dividend yield Not applicable 1.39 % Expected stock price volatility Not applicable 28.47 % Risk-free interest rate Not applicable 2.06 % Expected life of options Not applicable 6.5 years The following is a summary of currently outstanding and exercisable options at March 31, 2018: Options Outstanding Options Exercisable Exercise Prices Options (000) Weighted- Weighted- Options Weighted- $2.10 to $2.66 14 1.17 2.59 14 2.59 $5.68 to $6.56 99 3.40 6.45 99 6.45 $8.62 to $9.54 264 4.92 9.05 232 8.98 $14.71 to $16.86 262 6.51 16.00 154 15.98 $17.12 to $17.40 203 6.66 17.19 94 17.25 $18.46 to $18.46 1,010 7.40 18.46 289 18.46 $20.16 to $20.58 80 7.52 20.37 27 20.34 $21.25 to $21.25 120 8.06 21.25 24 21.25 $25.96 to $25.96 80 9.06 25.96 — 0.00 2,132 933 The table below summarized the activity for the Company’s restricted stock issued and outstanding at March 31, 2018 and December 31, 2017 and changes during the period and year then ended: As of March 31, 2018 As of December 31, 2017 (In thousands) Beginning of year 1,145 958 Issued 162 232 Vested (143 ) (45 ) Forfeited (15 ) — End of period 1,149 1,145 Amount of expense for three months and twelve months ended, respectively $ 1,601 $ 5,237 Total unrecognized compensation cost, net of income tax benefit, related to non-vested |
Non-Interest Expense
Non-Interest Expense | 3 Months Ended |
Mar. 31, 2018 | |
Text Block [Abstract] | |
Non-Interest Expense | 15. Non-Interest The table below shows the components of non-interest Three Months Ended March 31, 2018 2017 (In thousands) Salaries and employee benefits $ 35,014 $ 27,421 Occupancy and equipment 8,983 6,681 Data processing expense 3,986 2,723 Other operating expenses: Advertising 962 698 Merger and acquisition expenses — 6,727 Amortization of intangibles 1,625 804 Electronic banking expense 1,878 1,519 Directors’ fees 330 313 Due from bank service charges 219 420 FDIC and state assessment 1,608 1,288 Insurance 887 578 Legal and accounting 778 627 Other professional fees 1,639 1,153 Operating supplies 600 467 Postage 344 286 Telephone 373 324 Other expense 4,154 3,112 Total other operating expenses 15,397 18,316 Total non-interest $ 63,380 $ 55,141 |
Significant Estimates and Conce
Significant Estimates and Concentrations of Credit Risks | 3 Months Ended |
Mar. 31, 2018 | |
Text Block [Abstract] | |
Significant Estimates and Concentrations of Credit Risks | 16. Significant Estimates and Concentrations of Credit Risks Accounting principles generally accepted in the United States of America require disclosure of certain significant estimates and current vulnerabilities due to certain concentrations. Estimates related to the allowance for loan losses and certain concentrations of credit risk are reflected in Note 5, while deposit concentrations are reflected in Note 8. The Company’s primary market areas are in Arkansas, Florida, South Alabama and New York. The Company primarily grants loans to customers located within these markets unless the borrower has an established relationship with the Company. The diversity of the Company’s economic base tends to provide a stable lending environment. Although the Company has a loan portfolio that is diversified in both industry and geographic area, a substantial portion of its debtors’ ability to honor their contracts is dependent upon real estate values, tourism demand and the economic conditions prevailing in its market areas. Although the Company has a diversified loan portfolio, commercial real estate loans represented 61.8% of total loans receivable at each of March 31, 2018 and December 31, 2017, and 285.1% and 289.6% of total stockholders’ equity at March 31, 2018 and December 31, 2017, respectively. Residential real estate loans represented 23.0% and 23.3% of total loans receivable and 106.3% and 109.4% of total stockholders’ equity at March 31, 2018 and December 31, 2017, respectively. Approximately 91.2% of the Company’s total loans and 91.4% of the Company’s real estate loans as of March 31, 2018, 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 our market areas have improved, both nationally and locally, in recent 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 | 3 Months Ended |
Mar. 31, 2018 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | 17. Commitments and Contingencies In the ordinary course of business, the Company makes various commitments and incurs certain contingent liabilities to fulfill the financing needs of their customers. These commitments and contingent liabilities include lines of credit and commitments to extend credit and issue standby letters of credit. The Company applies the same credit policies and standards as they do in the lending process when making these commitments. The collateral obtained is based on the assessed creditworthiness of the borrower. At March 31, 2018 and December 31, 2017, commitments to extend credit of $2.14 billion and $2.38 billion, respectively, were outstanding. A percentage of these balances are participated out to other banks; therefore, the Company can call on the participating banks to fund future draws. Since some of these commitments are expected to expire without being drawn upon, the total commitment amount does not necessarily represent future cash requirements. Outstanding standby letters of credit are contingent commitments issued by the Company, generally to guarantee the performance of a customer in third-party borrowing arrangements. The term of the guarantee is dependent upon the creditworthiness of the borrower, some of which are long-term. The amount of collateral obtained, if deemed necessary, is based on management’s credit evaluation of the counterparty. Collateral held varies but may include accounts receivable, inventory, property, plant and equipment, commercial real estate and residential real estate. Management uses the same credit policies in granting lines of credit as it does for on-balance-sheet The Company and/or its bank subsidiary have various unrelated legal proceedings, most of which involve loan foreclosure activity pending, which, in the aggregate, are not expected to have a material adverse effect on the financial position or results of operations or cash flows of the Company and its subsidiary. |
Regulatory Matters
Regulatory Matters | 3 Months Ended |
Mar. 31, 2018 | |
Banking and Thrift [Abstract] | |
Regulatory Matters | 18. Regulatory Matters The Bank is subject to a legal limitation on dividends that can be paid to the parent company without prior approval of the applicable regulatory agencies. Arkansas bank regulators have specified that the maximum dividend limit state banks may pay to the parent company without prior approval is 75% of the current year earnings plus 75% of the retained net earnings of the preceding year. Since the Bank is also under supervision of the Federal Reserve, it is further limited if the total of all dividends declared in any calendar year by the Bank exceeds the Bank’s net profits to date for that year combined with its retained net profits for the preceding two years. During the first quarter of 2018, the Company requested approximately $30.3 million in regular dividends from its banking subsidiary. This dividend is equal to approximately 38.6% of the Company’s banking subsidiary’s first quarter 2018 earnings. 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 March 31, 2018, 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 March 31, 2018, the Bank met the capital standards for a well-capitalized institution. The Company’s “common equity Tier 1 risk-based capital” ratio, “Tier 1 leverage capital” ratio, “Tier 1 risk-based capital” ratio, and “total risk-based capital” ratio were 11.34%, 10.21%, 11.96%, and 15.56%, respectively, as of March 31, 2018. |
Additional Cash Flow Informatio
Additional Cash Flow Information | 3 Months Ended |
Mar. 31, 2018 | |
Supplemental Cash Flow Elements [Abstract] | |
Additional Cash Flow Information | 19. Additional Cash Flow Information In connection with the GHI acquisition, accounted for using the purchase method, the Company acquired approximately $398.1 million in assets, including $41.0 million in cash and cash equivalents, assumed $345.0 million in liabilities, issued 2,738,038 shares of its common stock valued at approximately $77.5 million as of February 23, 2017, and paid approximately $18.5 million in cash in exchange for all outstanding shares of GHI common stock. In connection with the BOC acquisition, accounted for using the purchase method, the Company acquired approximately $178.1 million in assets, including $4.6 million in cash and cash equivalents, assumed $170.1 million in liabilities, issued no equity and paid approximately $4.2 million in cash. As a result, the Company recorded a bargain purchase gain of $3.8 million. 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 a summary of the Company’s additional cash flow information during the three-month periods ended: March 31, 2018 2017 (In thousands) Interest paid $ 19,296 $ 2,209 Income taxes paid 865 — Assets acquired by foreclosure 4,253 2,041 |
Financial Instruments
Financial Instruments | 3 Months Ended |
Mar. 31, 2018 | |
Fair Value Disclosures [Abstract] | |
Financial Instruments | 20. Financial Instruments Fair value is the exchange price that would be received for an asset or paid to transfer a liability (exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. There is a hierarchy of three levels of inputs that may be used to measure fair values: 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 A financial instrument’s level within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement. Transfers of financial instruments between levels within the fair value hierarchy are recognized on the date management determines that the underlying circumstances or assumptions have changed. Financial Assets and Liabilities Measured on a Recurring Basis 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. Financial Assets and Liabilities Measured on a Nonrecurring Basis Impaired loans that are collateral dependent are the only material financial assets valued on a non-recurring non-accrual Nonfinancial Assets and Liabilities Measured on a Nonrecurring Basis Foreclosed assets held for sale are the only material non-financial non-recurring No foreclosed assets held for sale were remeasured during the three months ended March 31, 2018. 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 table presents the estimated fair values of the Company’s financial instruments. Fair value is the exchange price that would be received for an asset or paid to transfer a liability (exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. March 31, 2018 Carrying Amount Fair Value Level (In thousands) Financial assets: Cash and cash equivalents $ 510,601 $ 510,601 1 Federal funds sold 1,825 1,825 1 Investment securities – held-to-maturity 213,731 214,132 2 Loans receivable, net of impaired loans and allowance 10,136,175 9,932,701 3 Accrued interest receivable 45,361 45,361 1 Financial liabilities: Deposits: Demand and non-interest $ 2,473,602 $ 2,473,602 1 Savings and interest-bearing transaction accounts 6,437,408 6,437,408 1 Time deposits 1,485,605 1,474,065 3 Securities sold under agreements to repurchase 150,315 150,315 1 FHLB and other borrowed funds 1,115,061 1,110,809 2 Accrued interest payable 11,054 11,054 1 Subordinated debentures 368,212 379,471 3 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 |
Recent Accounting Pronouncement
Recent Accounting Pronouncements | 3 Months Ended |
Mar. 31, 2018 | |
Accounting Changes and Error Corrections [Abstract] | |
Recent Accounting Pronouncements | 21. Recent Accounting Pronouncements In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers (Topic 606) 2014-09 No. 2015-14, Revenue from Contracts with Customers (Topic 606) 2016-10, Revenue from Contracts with Customers (Topic 606): Identifying Performance Obligations and Licensing 2014-09 2014-10’s 2014-09. 2016-12, Revenue from Contracts with Customers (Topic 606): Narrow-Scope Improvements and Practical Expedients 2014-09. 2016-12’s 2014-09 The guidance issued in ASU 2014-09, 2015-14, 2016-10 2016-12 In January 2016, the FASB issued ASU 2016-01, Financial Instruments - Overall (Subtopic 825-10): 2016-01 available-for-sale In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842). 2016-02 2016-02 2016-02 right-of-use 10-K In 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 In February 2018, the FASB issued ASU 2018-03, Technical Corrections and Improvements to Financial Instruments — Overall (Subtopic 825-10): 2018-03 2016-01 • Equity securities without a readily determinable fair value — discontinuation. • Equity securities without a readily determinable fair value — adjustments. • Forward contracts and purchased options. • Presentation requirements for certain fair value option liabilities. • Fair value option liabilities denominated in a foreign currency. • Transition guidance for equity securities without a readily determinable fair value. The amendments in ASU 2018-03 2018-03 2016-01. The In March 2018, the FASB issued ASU 2018-04, Amendments to SEC paragraphs Pursuant to SEC Staff Accounting Bulletin No. 117 and SEC Release No. 33-9273 Investments – Debt Securities Regulated Operations 2016-01. In March 2018, the FASB issued ASU 2018-05, Amendments to SEC Paragraphs Pursuant to SEC Staff Accounting Bulletin No. 118 Income Tax Accounting Implications of the Tax Cuts and Jobs Act |
Nature of Operations and Summ30
Nature of Operations and Summary of Significant Accounting Policies (Policies) | 3 Months Ended |
Mar. 31, 2018 | |
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. |
Interim financial information | Interim financial information The accompanying unaudited consolidated financial statements as of March 31, 2018 and 2017 have been prepared in condensed format, and therefore do not include all of the information and footnotes required by accounting principles generally accepted in the United States of America for complete financial statements. The information furnished in these interim statements reflects all adjustments which are, in the opinion of management, necessary for a fair statement of the results for each respective period presented. Such adjustments are of a normal recurring nature. The results of operations in the interim statements are not necessarily indicative of the results that may be expected for any other quarter or for the full year. The interim financial information should be read in conjunction with the consolidated financial statements and notes thereto included in the Company’s 2017 Form 10-K, |
Revenue Recognition | Revenue Recognition. Accounting Standards Codification (“ASC”) Topic 606, Revenue from Contracts with Customers • Service charges on deposit accounts – These represent general service fees for monthly account maintenance and activity or transaction based fees and consist of transaction-based revenue, time-based revenue (service period), item-based revenue or some other individual attribute-based revenue. Revenue is recognized when our performance obligation is completed which is generally monthly for account maintenance services or when a transaction has been completed (such as a wire transfer). Payment for such performance obligations are generally received at the time the performance obligations are satisfied. • Other service charges and fees – These represent credit card interchange fees and Centennial CFG loan fees. The interchange fees are recorded in the period the performance obligation is satisfied which is generally the cash basis based on an agreed upon contract with Mastercard. The Centennial CFG loan fees are based on loan or other negotiated agreements with customers and are accounted for under ASC Topic 310. • Mortgage lending income – This represents fee income on secondary market lending which is accounted for under ASC Topic 310 and transfer of loans based on a “bid” agreement with the investor which is accounted for under ASC Topic 860, Transfers and Servicing. |
Earnings per Share | Earnings per Share Basic earnings per share is computed based on the weighted-average number of shares outstanding during each year. Diluted earnings per share is computed using the weighted-average shares and all potential dilutive shares outstanding during the period. The following table sets forth the computation of basic and diluted earnings per share (“EPS”) for the following periods: Three Months Ended March 31, 2018 2017 (In thousands, except per share data) Net income $ 73,064 $ 46,856 Average shares outstanding 173,761 141,785 Effect of common stock based compensation 622 707 Average diluted shares outstanding 174,383 142,492 Basic earnings per share $ 0.42 $ 0.33 Diluted earnings per share 0.42 0.33 |
Fair Value Measurement | Fair value is the exchange price that would be received for an asset or paid to transfer a liability (exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. There is a hierarchy of three levels of inputs that may be used to measure fair values: 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 A financial instrument’s level within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement. Transfers of financial instruments between levels within the fair value hierarchy are recognized on the date management determines that the underlying circumstances or assumptions have changed. Financial Assets and Liabilities Measured on a Recurring Basis 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. Financial Assets and Liabilities Measured on a Nonrecurring Basis Impaired loans that are collateral dependent are the only material financial assets valued on a non-recurring non-accrual Nonfinancial Assets and Liabilities Measured on a Nonrecurring Basis Foreclosed assets held for sale are the only material non-financial non-recurring No foreclosed assets held for sale were remeasured during the three months ended March 31, 2018. 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 table presents the estimated fair values of the Company’s financial instruments. Fair value is the exchange price that would be received for an asset or paid to transfer a liability (exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. March 31, 2018 Carrying Amount Fair Value Level (In thousands) Financial assets: Cash and cash equivalents $ 510,601 $ 510,601 1 Federal funds sold 1,825 1,825 1 Investment securities – held-to-maturity 213,731 214,132 2 Loans receivable, net of impaired loans and allowance 10,136,175 9,932,701 3 Accrued interest receivable 45,361 45,361 1 Financial liabilities: Deposits: Demand and non-interest $ 2,473,602 $ 2,473,602 1 Savings and interest-bearing transaction accounts 6,437,408 6,437,408 1 Time deposits 1,485,605 1,474,065 3 Securities sold under agreements to repurchase 150,315 150,315 1 FHLB and other borrowed funds 1,115,061 1,110,809 2 Accrued interest payable 11,054 11,054 1 Subordinated debentures 368,212 379,471 3 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 |
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 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 In February 2018, the FASB issued ASU 2018-03, Technical Corrections and Improvements to Financial Instruments — Overall (Subtopic 825-10): 2018-03 2016-01 • Equity securities without a readily determinable fair value — discontinuation. • Equity securities without a readily determinable fair value — adjustments. • Forward contracts and purchased options. • Presentation requirements for certain fair value option liabilities. • Fair value option liabilities denominated in a foreign currency. • Transition guidance for equity securities without a readily determinable fair value. The amendments in ASU 2018-03 2018-03 2016-01. The In March 2018, the FASB issued ASU 2018-04, Amendments to SEC paragraphs Pursuant to SEC Staff Accounting Bulletin No. 117 and SEC Release No. 33-9273 Investments – Debt Securities Regulated Operations 2016-01. In March 2018, the FASB issued ASU 2018-05, Amendments to SEC Paragraphs Pursuant to SEC Staff Accounting Bulletin No. 118 Income Tax Accounting Implications of the Tax Cuts and Jobs Act |
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 Summ31
Nature of Operations and Summary of Significant Accounting Policies (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Computation of Basic and Diluted Earnings per Common Share (EPS) | The following table sets forth the computation of basic and diluted earnings per share (“EPS”) for the following periods: Three Months Ended March 31, 2018 2017 (In thousands, except per share data) Net income $ 73,064 $ 46,856 Average shares outstanding 173,761 141,785 Effect of common stock based compensation 622 707 Average diluted shares outstanding 174,383 142,492 Basic earnings per share $ 0.42 $ 0.33 Diluted earnings per share 0.42 0.33 |
Business Combinations (Tables)
Business Combinations (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
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 |
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 |
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 |
Investment Securities (Tables)
Investment Securities (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Text Block [Abstract] | |
Amortized Cost and Estimated Fair Value of Investment Securities Classified as Available-for-Sale | The amortized cost and estimated fair value of investment securities that are classified as available-for-sale held-to-maturity March 31, 2018 Available-for-Sale Amortized Gross Gross Estimated (In thousands) U.S. government-sponsored enterprises $ 395,309 $ 937 $ (4,159 ) $ 392,087 Residential mortgage-backed securities 515,792 441 (11,852 ) 504,381 Commercial mortgage-backed securities 517,551 71 (12,883 ) 504,739 State and political subdivisions 253,766 2,224 (3,141 ) 252,849 Other securities 37,821 1,458 (317 ) 38,962 Total $ 1,720,239 $ 5,131 $ (32,352 ) $ 1,693,018 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 |
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 $ 4,043 $ — $ (14 ) $ 4,029 Residential mortgage-backed securities 54,057 27 (1,055 ) 53,029 Commercial mortgage-backed securities 15,970 23 (268 ) 15,725 State and political subdivisions 139,661 1,818 (130 ) 141,349 Total $ 213,731 $ 1,868 $ (1,467 ) $ 214,132 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 |
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 (In thousands) Due in one year or less $ 294,998 $ 292,191 $ 60,454 $ 61,310 Due after one year through five years 936,617 922,056 91,149 91,000 Due after five years through ten years 367,552 360,108 12,183 12,006 Due after ten years 121,072 118,663 49,945 49,816 Total $ 1,720,239 $ 1,693,018 $ 213,731 $ 214,132 |
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 March 31, 2018 Less Than 12 Months 12 Months or More Total Fair Value Unrealized Fair Value Unrealized Fair Value Unrealized (In thousands) U.S. government-sponsored enterprises $ 215,209 $ (3,024 ) $ 44,139 $ (1,149 ) $ 259,348 $ (4,173 ) Residential mortgage-backed securities 406,785 (9,538 ) 101,902 (3,369 ) 508,687 (12,907 ) Commercial mortgage-backed securities 367,845 (9,635 ) 115,292 (3,516 ) 483,137 (13,151 ) State and political subdivisions 102,212 (2,278 ) 20,638 (993 ) 122,850 (3,271 ) Other securities — — 9,767 (317 ) 9,767 (317 ) Total $ 1,092,051 $ (24,475 ) $ 291,738 $ (9,344 ) $ 1,383,789 $ (33,819 ) December 31, 2017 Less Than 12 Months 12 Months or More Total Fair Value Unrealized Fair Value Unrealized Fair Value Unrealized (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 ) |
Schedule of Income Earned on Securities | Income earned on securities for the three months ended March 31, 2018 and 2017, is as follows: Three Months Ended March 31, 2018 2017 (In thousands) Taxable: Available-for-sale $ 8,465 $ 4,794 Held-to-maturity 505 684 Non-taxable: Available-for-sale 1,349 1,547 Held-to-maturity 1,657 1,397 Total $ 11,976 $ 8,422 |
Loans Receivable (Tables)
Loans Receivable (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Receivables [Abstract] | |
Summary of Various Categories of Loans Receivable | The various categories of loans receivable are summarized as follows: March 31, December 31, 2018 2017 (In thousands) Real estate: Commercial real estate loans Non-farm/non-residential $ 4,658,209 $ 4,600,117 Construction/land development 1,641,834 1,700,491 Agricultural 81,151 82,229 Residential real estate loans Residential 1-4 1,915,346 1,970,311 Multifamily residential 464,194 441,303 Total real estate 8,760,734 8,794,451 Consumer 40,842 46,148 Commercial and industrial 1,324,173 1,297,397 Agricultural 50,770 49,815 Other 149,217 143,377 Total loans receivable $ 10,325,736 $ 10,331,188 |
Allowance for Loan Losses, Cr35
Allowance for Loan Losses, Credit Quality and Other (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
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: Three Months Ended March 31, 2018 (In thousands) Allowance for loan losses: Beginning balance $ 110,266 Loans charged off (2,540 ) Recoveries of loans previously charged off 886 Net loans recovered (charged off) (1,654 ) Provision for loan losses 1,600 Balance, March 31, 2018 $ 110,212 |
Balance of Allowance for Loan Losses | The following tables present the balance in the allowance for loan losses for the three-month period ended March 31, 2018, and the allowance for loan losses and recorded investment in loans based on portfolio segment by impairment method as of March 31, 2018. Allocation of a portion of the allowance to one type of loans does not preclude its availability to absorb losses in other categories. Three Months Ended March 31, 2018 Construction/ Land Other Commercial Residential Real Commercial & Consumer & Other Unallocated Total (In thousands) Allowance for loan losses: Beginning balance $ 20,343 $ 43,939 $ 24,506 $ 15,292 $ 3,334 $ 2,852 $ 110,266 Loans charged off (8 ) (447 ) (779 ) (814 ) (492 ) — (2,540 ) Recoveries of loans previously charged off 30 101 361 98 296 — 886 Net loans recovered (charged off) 22 (346 ) (418 ) (716 ) (196 ) — (1,654 ) Provision for loan losses (261 ) 1,238 (474 ) 1,617 109 (629 ) 1,600 Balance, March 31 $ 20,104 $ 44,831 $ 23,614 $ 16,193 $ 3,247 $ 2,223 $ 110,212 As of March 31, 2018 Construction/ Land Other Commercial Residential Real Estate Commercial & Industrial Consumer & Other Unallocated Total (In thousands) Allowance for loan losses: Period end amount allocated to: Loans individually evaluated for impairment $ 1,173 $ 686 $ 159 $ 1,590 $ — $ — $ 3,608 Loans collectively evaluated for impairment 18,872 43,667 22,617 14,304 3,236 2,223 104,919 Loans evaluated for impairment balance, March 31 20,045 44,353 22,776 15,894 3,236 2,223 108,527 Purchased credit impaired loans 59 478 838 299 11 — 1,685 Balance, March 31 $ 20,104 $ 44,831 $ 23,614 $ 16,193 $ 3,247 $ 2,223 $ 110,212 Loans receivable: Period end amount allocated to: Loans individually evaluated for impairment $ 20,927 $ 124,402 $ 22,379 $ 33,536 $ 391 $ — $ 201,635 Loans collectively evaluated for impairment 1,606,930 4,508,644 2,311,646 1,276,843 238,180 — 9,942,243 Loans evaluated for impairment balance, March 31 1,627,857 4,633,046 2,334,025 1,310,379 238,571 — 10,143,878 Purchased credit impaired loans 13,977 106,314 45,515 13,794 2,258 — 181,858 Balance, March 31 $ 1,641,834 $ 4,739,360 $ 2,379,540 $ 1,324,173 $ 240,829 $ — $ 10,325,736 The following tables present the balances in the allowance for loan losses for the three-month period ended March 31, 2017 and the year ended December 31, 2017, and the allowance for loan losses and recorded investment in loans receivable 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 (In thousands) Allowance for loan losses: Beginning balance $ 11,522 $ 28,188 $ 16,517 $ 12,756 $ 4,188 $ 6,831 $ 80,002 Loans charged off (207 ) (1,464 ) (1,891 ) (645 ) (499 ) — (4,706 ) Recoveries of loans previously charged off 199 331 133 182 256 — 1,101 Net loans recovered (charged off) (8 ) (1,133 ) (1,758 ) (463 ) (243 ) — (3,605 ) Provision for loan losses 559 1,868 3,481 1,091 (575 ) (2,510 ) 3,914 Balance, March 31 12,073 28,923 18,240 13,384 3,370 4,321 80,311 Loans charged off (1,425 ) (2,285 ) (2,089 ) (4,933 ) (2,033 ) — (12,765 ) Recoveries of loans previously charged off 263 711 543 282 585 — 2,384 Net loans recovered (charged off) (1,162 ) (1,574 ) (1,546 ) (4,651 ) (1,448 ) — (10,381 ) Provision for loan losses 9,432 16,590 7,812 6,559 1,412 (1,469 ) 40,336 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 (In thousands) Allowance for loan losses: 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 |
Summary of Aging Analysis for Loans Receivable | The following is an aging analysis for loans receivable as of March 31, 2018 and December 31, 2017: March 31, 2018 Loans Past Due 30-59 Days Loans Past Due 60-89 Days Loans Past Due 90 Days or More Total Past Due Current Loans Total Loans Receivable Accruing Loans Past Due 90 Days or More (In thousands) Real estate: Commercial real estate loans Non-farm/non-residential $ 1,126 $ 8,043 $ 14,011 $ 23,180 $ 4,635,029 $ 4,658,209 $ 5,300 Construction/land development 429 1,000 8,768 10,197 1,631,637 1,641,834 3,278 Agricultural 45 — 276 321 80,830 81,151 — Residential real estate loans Residential 1-4 3,436 2,216 18,487 24,139 1,891,207 1,915,346 2,451 Multifamily residential 472 — 251 723 463,471 464,194 99 Total real estate 5,508 11,259 41,793 58,560 8,702,174 8,760,734 11,128 Consumer 74 36 196 306 40,536 40,842 27 Commercial and industrial 2,234 1,283 7,321 10,838 1,313,335 1,324,173 2,068 Agricultural and other 1,308 8 179 1,495 198,492 199,987 — Total $ 9,124 $ 12,586 $ 49,489 $ 71,199 $ 10,254,537 $ 10,325,736 $ 13,223 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 (In thousands) Real estate: 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 |
Summary of Impaired Loans | The following is a summary of the impaired loans as of March 31, 2018 and December 31, 2017: March 31, 2018 Three Months Ended Unpaid Total Allocation of Allowance Average Interest Recognized (In thousands) Loans without a specific valuation allowance Real estate: Commercial real estate loans Non-farm/non-residential $ 29 $ 29 $ — $ 29 $ — Construction/land development 19 19 — 42 — Agricultural 17 17 — 18 — Residential real estate loans Residential 1-4 155 155 — 135 3 Multifamily residential — — — — — Total real estate 220 220 — 224 3 Consumer 16 16 — 17 — Commercial and industrial 202 202 — 154 3 Agricultural and other — — — — — Total loans without a specific valuation allowance 438 438 — 395 6 Loans with a specific valuation allowance Real estate: Commercial real estate loans Non-farm/non-residential 33,188 31,283 676 30,161 371 Construction/land development 13,264 12,208 1,173 12,183 87 Agricultural 540 544 10 414 7 Residential real estate loans Residential 1-4 23,752 20,511 100 19,600 322 Multifamily residential 1,737 1,714 59 1,670 19 Total real estate 72,481 66,260 2,018 64,028 806 Consumer 201 195 — 184 18 Commercial and industrial 23,524 15,885 1,590 14,445 150 Agricultural and other 179 179 — 244 3 Total loans with a specific valuation allowance 96,385 82,519 3,608 78,901 977 Total impaired loans Real estate: Commercial real estate loans Non-farm/non-residential 33,217 31,312 676 30,190 371 Construction/land development 13,283 12,227 1,173 12,225 87 Agricultural 557 561 10 432 7 Residential real estate loans Residential 1-4 23,907 20,666 100 19,735 325 Multifamily residential 1,737 1,714 59 1,670 19 Total real estate 72,701 66,480 2,018 64,252 809 Consumer 217 211 — 201 18 Commercial and industrial 23,726 16,087 1,590 14,599 153 Agricultural and other 179 179 — 244 3 Total impaired loans $ 96,823 $ 82,957 $ 3,608 $ 79,296 $ 983 Note 310-30. December 31, 2017 Year Ended Unpaid Total Allocation of Allowance Average Interest Recognized (In thousands) Loans without a specific valuation allowance Real estate: Commercial real estate loans Non-farm/non-residential $ 29 $ 29 $ — $ 23 $ 2 Construction/land development 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. |
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) March 31, 2018 Risk Rated 6 Risk Rated 7 Risk Rated 8 Classified Total (In thousands) Real estate: Commercial real estate loans Non-farm/non-residential $ 22,426 $ 568 $ — $ 22,994 Construction/land development 23,607 — — 23,607 Agricultural 573 — — 573 Residential real estate loans Residential 1-4 24,051 661 — 24,712 Multifamily residential 936 — — 936 Total real estate 71,593 1,229 — 72,822 Consumer 179 2 — 181 Commercial and industrial 14,636 249 — 14,885 Agricultural and other 195 3 — 198 Total risk rated loans $ 86,603 $ 1,483 $ — $ 88,086 December 31, 2017 Risk Rated 6 Risk Rated 7 Risk Rated 8 Classified Total (In thousands) Real estate: 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 risk rated loans $ 82,739 $ 1,375 $ — $ 84,114 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 March 31, 2018 and December 31, 2017: March 31, 2018 Risk Rated 1 Risk Rated 2 Risk Rated 3 Risk Rated 4 Risk Rated 5 Classified Total Total (In thousands) Real estate: Commercial real estate loans Non-farm/non-residential $ 1,009 $ 436 $ 2,635,934 $ 1,769,225 $ 122,506 $ 22,994 $ 4,552,104 Construction/land development 25 575 271,278 1,330,942 1,430 23,607 1,627,857 Agricultural — — 51,568 27,653 1,148 573 80,942 Residential real estate loans Residential 1-4 807 849 1,438,822 399,975 12,067 24,712 1,877,232 Multifamily residential — — 294,675 160,970 212 936 456,793 Total real estate 1,841 1,860 4,692,277 3,688,765 137,363 72,822 8,594,928 Consumer 12,391 724 18,742 7,809 73 181 39,920 Commercial and industrial 22,871 7,175 659,521 576,476 29,451 14,885 1,310,379 Agricultural and other 1,711 3,867 141,820 51,055 — 198 198,651 Total risk rated loans $ 38,814 $ 13,626 $ 5,512,360 $ 4,324,105 $ 166,887 $ 88,086 10,143,878 Purchased credit impaired loans 181,858 Total loans receivable $ 10,325,736 December 31, 2017 Risk Rated 1 Risk Rated 2 Risk Rated 3 Risk Rated 4 Risk Rated 5 Classified Total Total (In thousands) Real estate: Commercial real estate loans Non-farm/non-residential $ 1,015 $ 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 |
Presentation of Troubled Debt Restructurings ("TDRs") by Class | The following is a presentation of troubled debt restructurings (“TDRs”) by class as of March 31, 2018 and December 31, 2017: March 31, 2018 Number of Loans Pre-Modification Rate Modification Term Modification Rate & Term Modification Post- (Dollars in thousands) Real estate: Commercial real estate loans Non-farm/non-residential 15 $ 15,856 $ 8,770 $ 247 $ 5,502 $ 14,519 Construction/land development 3 641 555 72 — 627 Agricultural 2 345 282 20 — 302 Residential real estate loans Residential 1-4 17 3,605 1,626 77 1,194 2,897 Multifamily residential 3 1,701 1,327 — 287 1,614 Total real estate 40 22,148 12,560 416 6,983 19,959 Consumer 3 19 — 15 — 15 Commercial and industrial 11 1,201 704 47 — 751 Total 54 $ 23,368 $ 13,264 $ 478 $ 6,983 $ 20,725 December 31, 2017 Number of Loans Pre-Modification Rate Modification Term Modification Rate & Term Modification Post- (Dollars in thousands) Real estate: Commercial real estate loans Non-farm/non-residential 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 |
Presentation of TDR's on Non-Accrual Status | The following is a presentation of TDRs on non-accrual March 31, 2018 December 31, 2017 Number Recorded Number Recorded (Dollars in thousands) Real estate: Commercial real estate loans Non-farm/non-residential 1 $ 1,189 2 $ 1,161 Agricultural 1 20 1 22 Residential real estate loans Residential 1-4 6 807 8 850 Multifamily residential 1 152 1 153 Total real estate 9 2,168 12 2,186 Commercial and industrial 1 232 1 — Total 10 $ 2,400 13 $ 2,186 |
Summary of Total Foreclosed Assets | The following is a presentation of total foreclosed assets as of March 31, 2018 and December 31, 2017: March 31, 2018 December 31, 2017 (In thousands) Commercial real estate loans Non-farm/non-residential $ 8,720 $ 9,766 Construction/land development 5,292 5,920 Residential real estate loans Residential 1-4 5,660 2,654 Multifamily residential 462 527 Total foreclosed assets held for sale $ 20,134 $ 18,867 |
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 (In thousands) 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 three-month period ended March 31, 2018 for the Company’s acquisitions: Accretable Yield Carrying (In thousands) Balance at beginning of period $ 41,803 $ 198,052 Reforecasted future interest payments for loan pools 202 — Accretion recorded to interest income (4,670 ) 4,670 Adjustment to yield 1,589 — Transfers to foreclosed assets held for sale — (870 ) Payments received, net — (19,994 ) Balance at end of period $ 38,924 $ 181,858 |
Goodwill and Core Deposits an36
Goodwill and Core Deposits and Other Intangibles (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
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 March 31, 2018 and December 31, 2017, were as follows: March 31, 2018 December 31, 2017 (In thousands) Goodwill Balance, beginning of period $ 927,949 $ 377,983 Acquisitions — 549,966 Balance, end of period $ 927,949 $ 927,949 March 31, 2018 December 31, 2017 (In thousands) Core Deposit and Other Intangibles Balance, beginning of period $ 49,351 $ 18,311 Acquisition — 4,378 Amortization expense (1,625 ) (804 ) Balance, March 31 $ 47,726 21,885 Acquisitions 30,869 Amortization expense (3,403 ) Balance, end of year $ 49,351 |
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 March 31, 2018 and December 31, 2017 were: March 31, 2018 December 31, 2017 (In thousands) Gross carrying basis $ 86,625 $ 86,625 Accumulated amortization (38,899 ) (37,274 ) Net carrying amount $ 47,726 $ 49,351 |
Securities Sold Under Agreeme37
Securities Sold Under Agreements to Repurchase (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
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 March 31, 2018 and December 31, 2017 is presented in the following tables: March 31, 2018 Overnight and Up to 30 30-90 Days Greater than Total (In thousands) Securities sold under agreements to repurchase: U.S. government-sponsored enterprises $ 18,506 $ — $ — $ — $ 18,506 Mortgage-backed securities 6,565 — — — 6,565 State and political subdivisions 101,722 — — — 101,722 Other securities 23,522 — — — 23,522 Total borrowings $ 150,315 $ — $ — $ — $ 150,315 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 |
Subordinated Debentures (Tables
Subordinated Debentures (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Brokers and Dealers [Abstract] | |
Preferred Trust Securities and Subordinated Debentures | Subordinated debentures at March 31, 2018 and December 31, 2017 consisted of guaranteed payments on trust preferred securities with the following components: As of March 31, As of 2018 2017 (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 4,316 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 5,592 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 297,478 297,332 Total $ 368,212 $ 368,031 |
Income Taxes (Tables)
Income Taxes (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Income Tax Disclosure [Abstract] | |
Summary of Components of Provision (Benefit) for Income Taxes | The following is a summary of the components of the provision (benefit) for income taxes for the three-month periods ended March 31, 2018 and 2017: Three Months Ended March 31, 2018 2017 (In thousands) Current: Federal $ 15,005 $ 19,392 State 4,967 3,852 Total current 19,972 23,244 Deferred: Federal 3,004 1,777 State 994 353 Total deferred 3,998 2,130 Income tax expense $ 23,970 $ 25,374 |
Reconciliation between Statutory Federal Income Tax Rate and Effective Income Tax Rate | The reconciliation between the statutory federal income tax rate and effective income tax rate is as follows for the three-month periods ended March 31, 2018 and 2017: Three Months Ended March 31, 2018 2017 Statutory federal income tax rate 21.00 % 35.00 % Effect of non-taxable (0.74 ) (1.51 ) Effect of gain on acquisitions — (1.84 ) Stock compensation (0.83 ) (1.09 ) State income taxes, net of federal benefit 4.10 3.93 Other 1.17 0.64 Effective income tax rate 24.70 % 35.13 % |
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: March 31, 2018 December 31, 2017 (In thousands) Deferred tax assets: Allowance for loan losses $ 30,075 $ 29,515 Deferred compensation 1,093 1,142 Stock compensation 2,989 2,731 Real estate owned 1,565 1,731 Unrealized loss on securities available-for-sale 7,233 1,471 Loan discounts 28,246 32,784 Tax basis premium/discount on acquisitions 8,990 8,802 Investments 1,062 1,155 Other 11,677 11,663 Gross deferred tax assets 92,930 90,994 Deferred tax liabilities: Accelerated depreciation on premises and equipment 383 291 Core deposit intangibles 10,895 11,258 FHLB dividends 1,712 1,625 Other 1,612 1,256 Gross deferred tax liabilities 14,602 14,430 Net deferred tax assets $ 78,328 $ 76,564 |
Common Stock, Compensation Pl40
Common Stock, Compensation Plans and Other (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Equity [Abstract] | |
Summary of Stock Option Transactions under Incentive Plan (Split Adjusted) | The table below summarizes the stock option transactions under the Plan at March 31, 2018 and December 31, 2017 and changes during the three-month period and year then ended: For the Three Months For the Year Ended December 31, 2017 Shares Weighted- Shares Weighted- Outstanding, beginning of year 2,274 $ 16.23 2,397 $ 15.19 Granted — 80 25.96 Forfeited/Expired — — — Exercised (142 ) 8.82 (203 ) 7.82 Outstanding, end of period 2,132 16.72 2,274 16.23 Exercisable, end of period 933 $ 14.19 1,016 $ 13.55 |
Summary of Stock Options on Valuation Assumptions | The fair value of each option granted is estimated on the date of grant using the Black-Scholes option-pricing model based on the weighted-average assumptions for expected dividend yield, expected stock price volatility, risk-free interest rate, and expected life of options granted. For the Three Months Ended For the Year Ended March 31, 2018 December 31, 2017 Expected dividend yield Not applicable 1.39 % Expected stock price volatility Not applicable 28.47 % Risk-free interest rate Not applicable 2.06 % Expected life of options Not applicable 6.5 years |
Summary of Currently Outstanding and Exercisable Options (Split Adjusted) | The following is a summary of currently outstanding and exercisable options at March 31, 2018: Options Outstanding Options Exercisable Exercise Prices Options (000) Weighted- Weighted- Options Weighted- $2.10 to $2.66 14 1.17 2.59 14 2.59 $5.68 to $6.56 99 3.40 6.45 99 6.45 $8.62 to $9.54 264 4.92 9.05 232 8.98 $14.71 to $16.86 262 6.51 16.00 154 15.98 $17.12 to $17.40 203 6.66 17.19 94 17.25 $18.46 to $18.46 1,010 7.40 18.46 289 18.46 $20.16 to $20.58 80 7.52 20.37 27 20.34 $21.25 to $21.25 120 8.06 21.25 24 21.25 $25.96 to $25.96 80 9.06 25.96 — 0.00 2,132 933 |
Summary of Company's Restricted Stock Issued and Outstanding | The table below summarized the activity for the Company’s restricted stock issued and outstanding at March 31, 2018 and December 31, 2017 and changes during the period and year then ended: As of March 31, 2018 As of December 31, 2017 (In thousands) Beginning of year 1,145 958 Issued 162 232 Vested (143 ) (45 ) Forfeited (15 ) — End of period 1,149 1,145 Amount of expense for three months and twelve months ended, respectively $ 1,601 $ 5,237 |
Non-Interest Expense (Tables)
Non-Interest Expense (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Text Block [Abstract] | |
Components of Non-Interest Expense | non-interest Three Months Ended March 31, 2018 2017 (In thousands) Salaries and employee benefits $ 35,014 $ 27,421 Occupancy and equipment 8,983 6,681 Data processing expense 3,986 2,723 Other operating expenses: Advertising 962 698 Merger and acquisition expenses — 6,727 Amortization of intangibles 1,625 804 Electronic banking expense 1,878 1,519 Directors’ fees 330 313 Due from bank service charges 219 420 FDIC and state assessment 1,608 1,288 Insurance 887 578 Legal and accounting 778 627 Other professional fees 1,639 1,153 Operating supplies 600 467 Postage 344 286 Telephone 373 324 Other expense 4,154 3,112 Total other operating expenses 15,397 18,316 Total non-interest $ 63,380 $ 55,141 |
Additional Cash Flow Informat42
Additional Cash Flow Information (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Supplemental Cash Flow Elements [Abstract] | |
Summary of Additional Cash Flow Information | The following is a summary of the Company’s additional cash flow information during the three-month periods ended: March 31, 2018 2017 (In thousands) Interest paid $ 19,296 $ 2,209 Income taxes paid 865 — Assets acquired by foreclosure 4,253 2,041 |
Financial Instruments (Tables)
Financial Instruments (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Fair Value Disclosures [Abstract] | |
Estimated Fair Values of Financial Instruments | The following table presents the estimated fair values of the Company’s financial instruments. Fair value is the exchange price that would be received for an asset or paid to transfer a liability (exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. March 31, 2018 Carrying Amount Fair Value Level (In thousands) Financial assets: Cash and cash equivalents $ 510,601 $ 510,601 1 Federal funds sold 1,825 1,825 1 Investment securities – held-to-maturity 213,731 214,132 2 Loans receivable, net of impaired loans and allowance 10,136,175 9,932,701 3 Accrued interest receivable 45,361 45,361 1 Financial liabilities: Deposits: Demand and non-interest $ 2,473,602 $ 2,473,602 1 Savings and interest-bearing transaction accounts 6,437,408 6,437,408 1 Time deposits 1,485,605 1,474,065 3 Securities sold under agreements to repurchase 150,315 150,315 1 FHLB and other borrowed funds 1,115,061 1,110,809 2 Accrued interest payable 11,054 11,054 1 Subordinated debentures 368,212 379,471 3 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 |
Nature of Operations and Summ44
Nature of Operations and Summary of Significant Accounting Policies - Additional Information (Detail) | 3 Months Ended |
Mar. 31, 2018Segments | |
Accounting Policies [Abstract] | |
Number of Reportable Segments | 1 |
Nature of Operations and Summ45
Nature of Operations and Summary of Significant Accounting Policies - Computation of Basic and Diluted Earnings per Common Share (EPS) (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | Dec. 31, 2017 | |
Earnings Per Share [Abstract] | |||
Net income | $ 73,064 | $ 46,856 | $ 88,227 |
Average shares outstanding | 173,761 | 141,785 | |
Effect of common stock based compensation | 622 | 707 | |
Average diluted shares outstanding | 174,383 | 142,492 | |
Basic earnings per share | $ 0.42 | $ 0.33 | |
Diluted earnings per share | $ 0.42 | $ 0.33 |
Business Combinations - Acquisi
Business Combinations - Acquisition of Stonegate Bank - Additional Information (Detail) $ in Thousands | Sep. 26, 2017USD ($)BankingCentersshares | Mar. 31, 2018USD ($) | Dec. 31, 2017USD ($) |
Business Acquisition [Line Items] | |||
Loans purchased | $ 3,230,000 | $ 3,460,000 | |
Amount of discount on purchased loans | $ 137,400 | $ 146,600 | |
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] | 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 | ||
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 |
Business Combinations - Breakdo
Business Combinations - Breakdown of Assets Acquired and Liabilities Assumed (Detail) - USD ($) $ in Thousands | Sep. 26, 2017 | Feb. 28, 2017 | Feb. 23, 2017 | Mar. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 |
Assets | ||||||
Goodwill | $ 927,949 | $ 927,949 | $ 377,983 | |||
Equity | ||||||
Goodwill | 927,949 | 927,949 | 377,983 | |||
Goodwill | $ 927,949 | $ 927,949 | $ 377,983 | |||
Stonegate Bank [Member] | ||||||
Assets | ||||||
Cash and due from banks | $ 100,958 | |||||
Interest-bearing deposits with other banks | 135,631 | |||||
Federal funds sold | 1,515 | |||||
Investment securities | 103,515 | |||||
Loans receivable | 2,372,082 | |||||
Loans receivable, net | 2,372,082 | |||||
Bank premises and equipment, net | 35,296 | |||||
Foreclosed assets held for sale | 3,386 | |||||
Cash value of life insurance | 48,000 | |||||
Accrued interest receivable | 7,088 | |||||
Deferred tax asset, net | 39,330 | |||||
Goodwill | 507,008 | |||||
Core deposit and other intangibles | 30,869 | |||||
Other assets | 9,853 | |||||
Total assets acquired | 2,887,523 | |||||
Deposits | ||||||
Demand and non-interest-bearing | 585,959 | |||||
Savings and interest-bearing transaction accounts | 1,776,256 | |||||
Time deposits | 163,482 | |||||
Total deposits | 2,525,697 | |||||
FHLB borrowed funds | 32,851 | |||||
Securities sold under agreements to repurchase | 26,163 | |||||
Accrued interest payable and other liabilities | 7,616 | |||||
Subordinated debentures | 9,834 | |||||
Total liabilities assumed | 2,602,161 | |||||
Equity | ||||||
Total liabilities and equity assumed | 2,602,161 | |||||
Net assets acquired | 285,362 | |||||
Purchase price | 792,370 | |||||
Goodwill | 507,008 | |||||
Goodwill | 507,008 | |||||
Giant Holdings, Inc. [Member] | ||||||
Assets | ||||||
Cash and due from banks | $ 41,019 | |||||
Interest-bearing deposits with other banks | 4,058 | |||||
Investment securities | 1,956 | |||||
Loans receivable | 329,369 | |||||
Loans receivable, net | 329,369 | |||||
Bank premises and equipment, net | 2,719 | |||||
Cash value of life insurance | 10,861 | |||||
Accrued interest receivable | 850 | |||||
Deferred tax asset, net | 4,093 | |||||
Goodwill | 42,958 | |||||
Core deposit and other intangibles | 3,410 | |||||
Other assets | (235) | |||||
Total assets acquired | 398,100 | |||||
Deposits | ||||||
Demand and non-interest-bearing | 75,993 | |||||
Savings and interest-bearing transaction accounts | 139,459 | |||||
Time deposits | 88,543 | |||||
Total deposits | 303,995 | |||||
FHLB borrowed funds | 26,478 | |||||
Accrued interest payable and other liabilities | 14,570 | |||||
Total liabilities assumed | 345,043 | |||||
Equity | ||||||
Total liabilities and equity assumed | 345,043 | |||||
Net assets acquired | 53,057 | |||||
Purchase price | 96,015 | |||||
Goodwill | 42,958 | |||||
Goodwill | 42,958 | |||||
The Bank of Commerce [Member] | ||||||
Assets | ||||||
Cash and due from banks | $ 4,610 | |||||
Interest-bearing deposits with other banks | 14,360 | |||||
Investment securities | 25,813 | |||||
Loans receivable | 118,538 | |||||
Loans receivable, net | 118,538 | |||||
Bank premises and equipment, net | 1,887 | |||||
Foreclosed assets held for sale | 5,358 | |||||
Accrued interest receivable | 481 | |||||
Deferred tax asset, net | 4,198 | |||||
Core deposit and other intangibles | 968 | |||||
Other assets | 1,880 | |||||
Total assets acquired | 178,093 | |||||
Deposits | ||||||
Demand and non-interest-bearing | 27,245 | |||||
Savings and interest-bearing transaction accounts | 32,300 | |||||
Time deposits | 80,215 | |||||
Total deposits | 139,760 | |||||
FHLB borrowed funds | 30,042 | |||||
Accrued interest payable and other liabilities | 309 | |||||
Total liabilities assumed | 170,111 | |||||
Equity | ||||||
Total equity assumed | 0 | |||||
Net assets acquired | 7,982 | |||||
Purchase price | 4,175 | |||||
Pre-tax gain on acquisition | 3,807 | |||||
Acquired from Acquisition [Member] | Stonegate Bank [Member] | ||||||
Assets | ||||||
Cash and due from banks | 100,958 | |||||
Interest-bearing deposits with other banks | 135,631 | |||||
Federal funds sold | 1,515 | |||||
Investment securities | 103,041 | |||||
Loans receivable | 2,446,149 | |||||
Allowance for loan losses | (21,507) | |||||
Loans receivable, net | 2,424,642 | |||||
Bank premises and equipment, net | 38,868 | |||||
Foreclosed assets held for sale | 4,187 | |||||
Cash value of life insurance | 48,000 | |||||
Accrued interest receivable | 7,088 | |||||
Deferred tax asset, net | 27,340 | |||||
Goodwill | 81,452 | |||||
Core deposit and other intangibles | 10,505 | |||||
Other assets | 9,598 | |||||
Total assets acquired | 2,992,825 | |||||
Deposits | ||||||
Demand and non-interest-bearing | 585,959 | |||||
Savings and interest-bearing transaction accounts | 1,776,256 | |||||
Time deposits | 163,567 | |||||
Total deposits | 2,525,782 | |||||
FHLB borrowed funds | 32,667 | |||||
Securities sold under agreements to repurchase | 26,163 | |||||
Accrued interest payable and other liabilities | 8,100 | |||||
Subordinated debentures | 8,345 | |||||
Total liabilities assumed | 2,601,057 | |||||
Equity | ||||||
Total equity assumed | 391,768 | |||||
Total liabilities and equity assumed | 2,992,825 | |||||
Goodwill | 81,452 | |||||
Goodwill | 81,452 | |||||
Acquired from Acquisition [Member] | Giant Holdings, Inc. [Member] | ||||||
Assets | ||||||
Cash and due from banks | 41,019 | |||||
Interest-bearing deposits with other banks | 4,057 | |||||
Investment securities | 1,961 | |||||
Loans receivable | 335,886 | |||||
Allowance for loan losses | (4,568) | |||||
Loans receivable, net | 331,318 | |||||
Bank premises and equipment, net | 2,111 | |||||
Cash value of life insurance | 10,861 | |||||
Accrued interest receivable | 850 | |||||
Deferred tax asset, net | 2,286 | |||||
Core deposit and other intangibles | 172 | |||||
Other assets | 254 | |||||
Total assets acquired | 394,889 | |||||
Deposits | ||||||
Demand and non-interest-bearing | 75,993 | |||||
Savings and interest-bearing transaction accounts | 139,459 | |||||
Time deposits | 88,219 | |||||
Total deposits | 303,671 | |||||
FHLB borrowed funds | 26,047 | |||||
Accrued interest payable and other liabilities | 14,552 | |||||
Total liabilities assumed | 344,270 | |||||
Equity | ||||||
Total equity assumed | 50,619 | |||||
Total liabilities and equity assumed | 394,889 | |||||
Acquired from Acquisition [Member] | The Bank of Commerce [Member] | ||||||
Assets | ||||||
Cash and due from banks | 4,610 | |||||
Interest-bearing deposits with other banks | 14,360 | |||||
Investment securities | 25,926 | |||||
Loans receivable | 124,289 | |||||
Allowance for loan losses | (2,037) | |||||
Loans receivable, net | 122,252 | |||||
Bank premises and equipment, net | 1,887 | |||||
Foreclosed assets held for sale | 8,523 | |||||
Accrued interest receivable | 481 | |||||
Other assets | 1,880 | |||||
Total assets acquired | 179,919 | |||||
Deposits | ||||||
Demand and non-interest-bearing | 27,245 | |||||
Savings and interest-bearing transaction accounts | 32,300 | |||||
Time deposits | 79,945 | |||||
Total deposits | 139,490 | |||||
FHLB borrowed funds | 30,000 | |||||
Accrued interest payable and other liabilities | 564 | |||||
Total liabilities assumed | 170,054 | |||||
Fair Value Adjustments [Member] | Stonegate Bank [Member] | ||||||
Assets | ||||||
Investment securities | 474 | |||||
Loans receivable | (74,067) | |||||
Allowance for loan losses | 21,507 | |||||
Loans receivable, net | (52,560) | |||||
Bank premises and equipment, net | (3,572) | |||||
Foreclosed assets held for sale | (801) | |||||
Deferred tax asset, net | 11,990 | |||||
Goodwill | (81,452) | |||||
Core deposit and other intangibles | 20,364 | |||||
Other assets | 255 | |||||
Total assets acquired | (105,302) | |||||
Deposits | ||||||
Time deposits | (85) | |||||
Total deposits | (85) | |||||
FHLB borrowed funds | 184 | |||||
Accrued interest payable and other liabilities | (484) | |||||
Subordinated debentures | 1,489 | |||||
Total liabilities assumed | 1,104 | |||||
Equity | ||||||
Total equity assumed | (391,768) | |||||
Total liabilities and equity assumed | (390,664) | |||||
Goodwill | (81,452) | |||||
Goodwill | $ (81,452) | |||||
Fair Value Adjustments [Member] | Giant Holdings, Inc. [Member] | ||||||
Assets | ||||||
Interest-bearing deposits with other banks | 1 | |||||
Investment securities | (5) | |||||
Loans receivable | (6,517) | |||||
Allowance for loan losses | 4,568 | |||||
Loans receivable, net | (1,949) | |||||
Bank premises and equipment, net | 608 | |||||
Deferred tax asset, net | 1,807 | |||||
Core deposit and other intangibles | 3,238 | |||||
Other assets | (489) | |||||
Total assets acquired | 3,211 | |||||
Deposits | ||||||
Time deposits | 324 | |||||
Total deposits | 324 | |||||
FHLB borrowed funds | 431 | |||||
Accrued interest payable and other liabilities | 18 | |||||
Total liabilities assumed | 773 | |||||
Equity | ||||||
Total equity assumed | (50,619) | |||||
Total liabilities and equity assumed | $ (49,846) | |||||
Fair Value Adjustments [Member] | The Bank of Commerce [Member] | ||||||
Assets | ||||||
Investment securities | (113) | |||||
Loans receivable | (5,751) | |||||
Allowance for loan losses | 2,037 | |||||
Loans receivable, net | (3,714) | |||||
Foreclosed assets held for sale | (3,165) | |||||
Deferred tax asset, net | 4,198 | |||||
Core deposit and other intangibles | 968 | |||||
Total assets acquired | (1,826) | |||||
Deposits | ||||||
Time deposits | 270 | |||||
Total deposits | 270 | |||||
FHLB borrowed funds | 42 | |||||
Accrued interest payable and other liabilities | (255) | |||||
Total liabilities assumed | $ 57 |
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 - Acqui49
Business Combinations - Acquisition of The Bank of Commerce - Additional Information (Detail) $ in Thousands | Feb. 28, 2017USD ($)BankingCenters | Sep. 30, 2017 | Mar. 31, 2018USD ($) | Dec. 31, 2017USD ($) |
Business Acquisition [Line Items] | ||||
Loans purchased | $ 3,230,000 | $ 3,460,000 | ||
The Bank of Commerce [Member] | ||||
Business Acquisition [Line Items] | ||||
Business acquisition date | Feb. 28, 2017 | |||
Cash paid for acquisition | $ 4,175 | |||
Business combination, recognized identifiable assets acquired, Total Assets | 178,093 | |||
Loan discounts | 3,000 | |||
Business acquisition of investment securities | 25,813 | |||
Loans purchased | $ 106,800 | |||
Effective tax rates | 39.225% | |||
Core deposit intangible | $ 968 | |||
Customer deposits assumed pursuant to agreement | $ 139,760 | |||
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 | |||
Business combination, recognized identifiable liabilities assumed, Loans | 118,500 | |||
Business combination, recognized identifiable assets acquired, Deposits | 139,800 | |||
Loan discounts | 5,800 | |||
The Bank of Commerce [Member] | Credit Impaired Loans [Member] | ||||
Business Acquisition [Line Items] | ||||
Loan discounts | 2,800 | |||
Loans purchased | 17,500 | |||
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) | |||
Business acquisition of investment securities | (113) | |||
Core deposit intangible | 968 | |||
Customer deposits assumed pursuant to agreement | $ 270 |
Business Combinations - Acqui50
Business Combinations - Acquisition of Giant Holdings, Inc. - Additional Information (Detail) | Feb. 23, 2017USD ($)BankingCentersshares | Sep. 30, 2017 | Mar. 31, 2018USD ($) | Dec. 31, 2017USD ($) |
Business Acquisition [Line Items] | ||||
Loans purchased | $ 3,230,000,000 | $ 3,460,000,000 | ||
Amount of discount on purchased loans | $ 137,400,000 | $ 146,600,000 | ||
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 |
Investment Securities - Amortiz
Investment Securities - Amortized Cost and Estimated Fair Value of Investment Securities Classified as Available-for-Sale (Detail) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | $ 1,720,239 | $ 1,669,147 |
Gross Unrealized Gains | 5,131 | 6,777 |
Gross Unrealized (Losses) | (32,352) | (12,407) |
Estimated Fair Value | 1,693,018 | 1,663,517 |
U.S. Government-Sponsored Enterprises [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 395,309 | 407,387 |
Gross Unrealized Gains | 937 | 899 |
Gross Unrealized (Losses) | (4,159) | (1,982) |
Estimated Fair Value | 392,087 | 406,304 |
Residential Mortgage-Backed Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 515,792 | 481,981 |
Gross Unrealized Gains | 441 | 538 |
Gross Unrealized (Losses) | (11,852) | (4,919) |
Estimated Fair Value | 504,381 | 477,600 |
Commercial Mortgage-Backed Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 517,551 | 497,870 |
Gross Unrealized Gains | 71 | 332 |
Gross Unrealized (Losses) | (12,883) | (4,430) |
Estimated Fair Value | 504,739 | 493,772 |
State and Political Subdivisions [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 253,766 | 247,292 |
Gross Unrealized Gains | 2,224 | 3,783 |
Gross Unrealized (Losses) | (3,141) | (774) |
Estimated Fair Value | 252,849 | 250,301 |
Other Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 37,821 | 34,617 |
Gross Unrealized Gains | 1,458 | 1,225 |
Gross Unrealized (Losses) | (317) | (302) |
Estimated Fair Value | $ 38,962 | $ 35,540 |
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 | Mar. 31, 2018 | Dec. 31, 2017 |
Schedule of Held-to-maturity Securities [Line Items] | ||
Estimated Fair Value | $ 213,731 | $ 224,756 |
Held-to-Maturity [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Amortized Cost | 213,731 | 224,756 |
Gross Unrealized Gains | 1,868 | 3,267 |
Gross Unrealized (Losses) | (1,467) | (484) |
Estimated Fair Value | 214,132 | 227,539 |
U.S. Government-Sponsored Enterprises [Member] | Held-to-Maturity [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Amortized Cost | 4,043 | 5,791 |
Gross Unrealized Gains | 15 | |
Gross Unrealized (Losses) | (14) | (15) |
Estimated Fair Value | 4,029 | 5,791 |
Residential Mortgage-Backed Securities [Member] | Held-to-Maturity [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Amortized Cost | 54,057 | 56,982 |
Gross Unrealized Gains | 27 | 107 |
Gross Unrealized (Losses) | (1,055) | (402) |
Estimated Fair Value | 53,029 | 56,687 |
Commercial Mortgage-Backed Securities [Member] | Held-to-Maturity [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Amortized Cost | 15,970 | 16,625 |
Gross Unrealized Gains | 23 | 114 |
Gross Unrealized (Losses) | (268) | (40) |
Estimated Fair Value | 15,725 | 16,699 |
State and Political Subdivisions [Member] | Held-to-Maturity [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Amortized Cost | 139,661 | 145,358 |
Gross Unrealized Gains | 1,818 | 3,031 |
Gross Unrealized (Losses) | (130) | (27) |
Estimated Fair Value | $ 141,349 | $ 148,362 |
Investment Securities - Additio
Investment Securities - Additional Information (Detail) - USD ($) | 3 Months Ended | ||
Mar. 31, 2018 | Mar. 31, 2017 | Dec. 31, 2017 | |
Available-for-sale Securities [Abstract] | |||
Carrying value of investment securities | $ 1,190,000,000 | $ 1,180,000,000 | |
Investment securities pledged as collateral | 150,300,000 | 147,800,000 | |
Available for sale securities sold | 809,000,000,000 | $ 15,200,000 | |
Gross realized gains or loss on sale | $ 0 | $ 423,000,000 | |
Income tax expense benefit to net security gains and losses | 26.135% | 39.225% | |
Other-than-temporary impairment of securities | $ 0 | ||
Fair value of unrealized losses | $ 9,344,000 | $ 5,273,000 | |
Percentage of Company's investment portfolio | 71.60% | ||
Maturity description of investment portfolio | Five years or less |
Investment Securities - Amort54
Investment Securities - Amortized Cost and Estimated Fair Value of Securities Contractual Maturity (Detail) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Available-for-Sale Securities, Amortized Cost | ||
Due in one year or less, Amortized Cost | $ 294,998 | |
Due after one year through five years, Amortized Cost | 936,617 | |
Due after five years through ten years, Amortized Cost | 367,552 | |
Due after ten years, Amortized Cost | 121,072 | |
Total, Amortized Cost | 1,720,239 | |
Available-for-Sale Securities, Estimated Fair Value | ||
Due in one year or less, Estimated Fair Value | 292,191 | |
Due after one year through five years, Estimated Fair Value | 922,056 | |
Due after five years through ten years, Estimated Fair Value | 360,108 | |
Due after ten years, Estimated Fair Value | 118,663 | |
Total, Estimated Fair Value | 1,693,018 | $ 1,663,517 |
Held-to-Maturity Securities, Amortized Cost | ||
Due in one year or less, Held to Maturity Amortized Cost | 60,454 | |
Due after one year through five years, Held to Maturity Amortized Cost | 91,149 | |
Due after five years through ten years, Held to Maturity Amortized Cost | 12,183 | |
Due after ten years, Held to Maturity Amortized Cost | 49,945 | |
Total, Held to Maturity Amortized Cost | 213,731 | $ 224,756 |
Held-to-Maturity Securities, Estimated Fair Value | ||
Due in one year or less, Held to Maturity Estimated Fair Value | 61,310 | |
Due after one year through five years, Held to Maturity Estimated Fair Value | 91,000 | |
Due after five years through ten years, Held to Maturity Estimated Fair Value | 12,006 | |
Due after ten years, Held to Maturity Estimated Fair Value | 49,816 | |
Total, Held to Maturity Estimated Fair Value | $ 214,132 |
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 | Mar. 31, 2018 | Dec. 31, 2017 |
Schedule of Available-for-sale Securities [Line Items] | ||
Fair Value of Available-for-Sale Securities, Less Than 12 Months | $ 1,092,051 | $ 979,354 |
Unrealized Losses of Available-for-Sale Securities, Less Than 12 Months | (24,475) | (7,618) |
Fair Value of Available-for-Sale Securities, 12 Months or More | 291,738 | 291,308 |
Unrealized Losses of Available-for-Sale Securities, 12 Months or More | (9,344) | (5,273) |
Fair Value of Available-for-Sale Securities, Total | 1,383,789 | 1,270,662 |
Unrealized Losses of Available-for-Sale Securities, Total | (33,819) | (12,891) |
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 | 215,209 | 234,213 |
Unrealized Losses of Available-for-Sale Securities, Less Than 12 Months | (3,024) | (1,288) |
Fair Value of Available-for-Sale Securities, 12 Months or More | 44,139 | 40,122 |
Unrealized Losses of Available-for-Sale Securities, 12 Months or More | (1,149) | (709) |
Fair Value of Available-for-Sale Securities, Total | 259,348 | 274,335 |
Unrealized Losses of Available-for-Sale Securities, Total | (4,173) | (1,997) |
Residential Mortgage-Backed Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Fair Value of Available-for-Sale Securities, Less Than 12 Months | 406,785 | 389,541 |
Unrealized Losses of Available-for-Sale Securities, Less Than 12 Months | (9,538) | (3,656) |
Fair Value of Available-for-Sale Securities, 12 Months or More | 101,902 | 99,989 |
Unrealized Losses of Available-for-Sale Securities, 12 Months or More | (3,369) | (1,665) |
Fair Value of Available-for-Sale Securities, Total | 508,687 | 489,530 |
Unrealized Losses of Available-for-Sale Securities, Total | (12,907) | (5,321) |
Commercial Mortgage-Backed Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Fair Value of Available-for-Sale Securities, Less Than 12 Months | 367,845 | 314,301 |
Unrealized Losses of Available-for-Sale Securities, Less Than 12 Months | (9,635) | (2,343) |
Fair Value of Available-for-Sale Securities, 12 Months or More | 115,292 | 120,365 |
Unrealized Losses of Available-for-Sale Securities, 12 Months or More | (3,516) | (2,127) |
Fair Value of Available-for-Sale Securities, Total | 483,137 | 434,666 |
Unrealized Losses of Available-for-Sale Securities, Total | (13,151) | (4,470) |
State and Political Subdivisions [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Fair Value of Available-for-Sale Securities, Less Than 12 Months | 102,212 | 41,299 |
Unrealized Losses of Available-for-Sale Securities, Less Than 12 Months | (2,278) | (331) |
Fair Value of Available-for-Sale Securities, 12 Months or More | 20,638 | 20,980 |
Unrealized Losses of Available-for-Sale Securities, 12 Months or More | (993) | (470) |
Fair Value of Available-for-Sale Securities, Total | 122,850 | 62,279 |
Unrealized Losses of Available-for-Sale Securities, Total | (3,271) | (801) |
Other Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Fair Value of Available-for-Sale Securities, 12 Months or More | 9,767 | 9,852 |
Unrealized Losses of Available-for-Sale Securities, 12 Months or More | (317) | (302) |
Fair Value of Available-for-Sale Securities, Total | 9,767 | 9,852 |
Unrealized Losses of Available-for-Sale Securities, Total | $ (317) | $ (302) |
Investment Securities - Sched56
Investment Securities - Schedule of Income Earned on Securities (Detail) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Investment Income [Line Items] | ||
Income earned on securities, taxable | $ 8,970 | $ 5,478 |
Income earned on securities, Non-taxable | 3,006 | 2,944 |
Income earned on securities, total | 11,976 | 8,422 |
Available-for-sale [Member] | ||
Investment Income [Line Items] | ||
Income earned on securities, taxable | 8,465 | 4,794 |
Income earned on securities, Non-taxable | 1,349 | 1,547 |
Held-to-Maturity [Member] | ||
Investment Income [Line Items] | ||
Income earned on securities, taxable | 505 | 684 |
Income earned on securities, Non-taxable | $ 1,657 | $ 1,397 |
Loans Receivable - Summary of V
Loans Receivable - Summary of Various Categories of Loans Receivable (Detail) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable | $ 10,325,736 | $ 10,331,188 |
Multifamily Residential [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable | 464,194 | 441,303 |
Commercial Real Estate Non Farm Nonresidential [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable | 4,658,209 | 4,600,117 |
Commercial Real Estate Construction Land Development Loan [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable | 1,641,834 | 1,700,491 |
Agricultural [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable | 81,151 | 82,229 |
Residential 1-4 Family [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable | 1,915,346 | 1,970,311 |
Residential and Commercial Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable | 8,760,734 | 8,794,451 |
Agricultural [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable | 50,770 | 49,815 |
Other [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable | 149,217 | 143,377 |
Consumer [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable | 40,842 | 46,148 |
Commercial and Industrial [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable | $ 1,324,173 | $ 1,297,397 |
Loans Receivable - Additional I
Loans Receivable - Additional Information (Detail) - USD ($) $ in Millions | 3 Months Ended | ||
Mar. 31, 2018 | Mar. 31, 2017 | Dec. 31, 2017 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Mortgage loans held for sale | $ 36.7 | $ 44.3 | |
Purchased loans | 3,230 | 3,460 | |
Amount of discount for credit losses on purchased loans | 137.4 | 146.6 | |
Non-accretable discount for credit losses on purchased loans | 49.4 | 51.9 | |
Accretable discount for credit losses on purchased loans | 88 | $ 94.7 | |
SBA Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans sold during period | 2.7 | $ 4 | |
Gain on sale of guaranteed portion of loans | $ 182,000 | $ 188,000 |
Allowance for Loan Losses, Cr59
Allowance for Loan Losses, Credit Quality and Other - Additional Information (Detail) | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2018USD ($) | Mar. 31, 2017USD ($) | Dec. 31, 2017USD ($)Rating | |
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Non-accruing loans | $ 36,300,000 | $ 34,000,000 | |
Interest recognized on impaired loans | 983,000 | $ 514,000 | $ 2,365,000 |
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 | $ 202,000 | ||
Adjustment to yield over the weighted average life of the loans | 1,589,000 | ||
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 |
Allowance for Loan Losses, Cr60
Allowance for Loan Losses, Credit Quality and Other - Summary of Changes in Allowance for Loan Losses (Detail) $ in Thousands | 3 Months Ended |
Mar. 31, 2018USD ($) | |
Receivables [Abstract] | |
Beginning balance | $ 110,266 |
Loans charged off | (2,540) |
Recoveries of loans previously charged off | 886 |
Net loans recovered (charged off) | (1,654) |
Provision for loan losses | 1,600 |
Ending balance | $ 110,212 |
Allowance for Loan Losses, Cr61
Allowance for Loan Losses, Credit Quality and Other - Balance of Allowance for Loan Losses (Detail) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||
Mar. 31, 2018 | Mar. 31, 2017 | Dec. 31, 2017 | Mar. 31, 2018 | Dec. 31, 2017 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Beginning balance | $ 110,266 | ||||
Loans charged off | (2,540) | ||||
Recoveries of loans previously charged off | 886 | ||||
Net loans recovered (charged off) | (1,654) | ||||
Provision for loan losses | 1,600 | ||||
Ending balance | 110,212 | $ 110,266 | |||
Loans individually evaluated for impairment | $ 0 | $ 0 | |||
Purchased credit impaired loans | 137,400 | 146,600 | |||
Allowance for loan losses | 110,212 | 110,266 | 110,212 | 110,266 | |
Loans evaluated for impairment, ending balance | 10,143,878 | 10,133,136 | |||
Purchased credit impaired loans | 181,858 | 198,052 | |||
Total Loans Receivable | 10,325,736 | 10,331,188 | |||
Commercial and Industrial [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans evaluated for impairment, ending balance | 1,310,379 | 1,283,028 | |||
Total Loans Receivable | 1,324,173 | 1,297,397 | |||
Loans Receivable [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Total Loans Receivable | 10,325,736 | 10,331,188 | |||
Loans Receivable [Member] | Allowance for Loan Losses [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Beginning balance | 110,266 | $ 80,002 | 80,002 | ||
Loans charged off | (2,540) | (4,706) | (12,765) | ||
Recoveries of loans previously charged off | 886 | 1,101 | 2,384 | ||
Net loans recovered (charged off) | (1,654) | (3,605) | (10,381) | ||
Provision for loan losses | 1,600 | 3,914 | 40,336 | ||
Ending balance | 110,212 | 80,311 | 110,266 | ||
Loans individually evaluated for impairment | 3,608 | 3,184 | |||
Loans collectively evaluated for impairment | 104,919 | 105,571 | |||
Loans evaluated for impairment, ending balance | 108,527 | 108,755 | |||
Purchased credit impaired loans | 1,685 | 1,511 | |||
Allowance for loan losses | 110,212 | 80,311 | 80,002 | 110,212 | 110,266 |
Loans Receivable [Member] | Loans Receivable [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans individually evaluated for impairment | 201,635 | 193,782 | |||
Loans collectively evaluated for impairment | 9,942,243 | 9,939,354 | |||
Loans evaluated for impairment, ending balance | 10,143,878 | 10,133,136 | |||
Purchased credit impaired loans | 181,858 | 198,052 | |||
Total Loans Receivable | 10,325,736 | 10,331,188 | |||
Loans Receivable [Member] | Residential Real Estate Loans [Member] | Allowance for Loan Losses [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Beginning balance | 24,506 | 16,517 | 16,517 | ||
Loans charged off | (779) | (1,891) | (2,089) | ||
Recoveries of loans previously charged off | 361 | 133 | 543 | ||
Net loans recovered (charged off) | (418) | (1,758) | (1,546) | ||
Provision for loan losses | (474) | 3,481 | 7,812 | ||
Ending balance | 23,614 | 18,240 | 24,506 | ||
Loans individually evaluated for impairment | 159 | 188 | |||
Loans collectively evaluated for impairment | 22,617 | 23,341 | |||
Loans evaluated for impairment, ending balance | 22,776 | 23,529 | |||
Purchased credit impaired loans | 838 | 977 | |||
Allowance for loan losses | 23,614 | 18,240 | 16,517 | 23,614 | 24,506 |
Loans Receivable [Member] | Residential Real Estate Loans [Member] | Loans Receivable [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans individually evaluated for impairment | 22,379 | 20,431 | |||
Loans collectively evaluated for impairment | 2,311,646 | 2,341,081 | |||
Loans evaluated for impairment, ending balance | 2,334,025 | 2,361,512 | |||
Purchased credit impaired loans | 45,515 | 50,102 | |||
Total Loans Receivable | 2,379,540 | 2,411,614 | |||
Loans Receivable [Member] | Commercial and Industrial [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Total Loans Receivable | 1,324,173 | 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 | 15,292 | 12,756 | 12,756 | ||
Loans charged off | (814) | (645) | (4,933) | ||
Recoveries of loans previously charged off | 98 | 182 | 282 | ||
Net loans recovered (charged off) | (716) | (463) | (4,651) | ||
Provision for loan losses | 1,617 | 1,091 | 6,559 | ||
Ending balance | 16,193 | 13,384 | 15,292 | ||
Loans individually evaluated for impairment | 1,590 | 843 | |||
Loans collectively evaluated for impairment | 14,304 | 14,290 | |||
Loans evaluated for impairment, ending balance | 15,894 | 15,133 | |||
Purchased credit impaired loans | 299 | 159 | |||
Allowance for loan losses | 16,193 | 13,384 | 12,756 | 16,193 | 15,292 |
Loans Receivable [Member] | Commercial and Industrial [Member] | Loans Receivable [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans individually evaluated for impairment | 33,536 | 21,867 | |||
Loans collectively evaluated for impairment | 1,276,843 | 1,261,161 | |||
Loans evaluated for impairment, ending balance | 1,310,379 | 1,283,028 | |||
Purchased credit impaired loans | 13,794 | 14,369 | |||
Total Loans Receivable | 1,324,173 | 1,297,397 | |||
Loans Receivable [Member] | Unallocated [Member] | Allowance for Loan Losses [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Beginning balance | 2,852 | 6,831 | 6,831 | ||
Provision for loan losses | (629) | (2,510) | (1,469) | ||
Ending balance | 2,223 | 4,321 | 2,852 | ||
Loans collectively evaluated for impairment | 2,223 | 2,852 | |||
Loans evaluated for impairment, ending balance | 2,223 | 2,852 | |||
Allowance for loan losses | 2,223 | 4,321 | 6,831 | 2,223 | 2,852 |
Construction/Land Development [Member] | Loans Receivable [Member] | Allowance for Loan Losses [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Beginning balance | 20,343 | 11,522 | 11,522 | ||
Loans charged off | (8) | (207) | (1,425) | ||
Recoveries of loans previously charged off | 30 | 199 | 263 | ||
Net loans recovered (charged off) | 22 | (8) | (1,162) | ||
Provision for loan losses | (261) | 559 | 9,432 | ||
Ending balance | 20,104 | 12,073 | 20,343 | ||
Loans individually evaluated for impairment | 1,173 | 1,378 | |||
Loans collectively evaluated for impairment | 18,872 | 18,954 | |||
Loans evaluated for impairment, ending balance | 20,045 | 20,332 | |||
Purchased credit impaired loans | 59 | 11 | |||
Allowance for loan losses | 20,104 | 12,073 | 11,522 | 20,104 | 20,343 |
Construction/Land Development [Member] | Loans Receivable [Member] | Loans Receivable [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans individually evaluated for impairment | 20,927 | 26,860 | |||
Loans collectively evaluated for impairment | 1,606,930 | 1,658,519 | |||
Loans evaluated for impairment, ending balance | 1,627,857 | 1,685,379 | |||
Purchased credit impaired loans | 13,977 | 15,112 | |||
Total Loans Receivable | 1,641,834 | 1,700,491 | |||
Other Commercial Real Estate [Member] | Loans Receivable [Member] | Allowance for Loan Losses [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Beginning balance | 43,939 | 28,188 | 28,188 | ||
Loans charged off | (447) | (1,464) | (2,285) | ||
Recoveries of loans previously charged off | 101 | 331 | 711 | ||
Net loans recovered (charged off) | (346) | (1,133) | (1,574) | ||
Provision for loan losses | 1,238 | 1,868 | 16,590 | ||
Ending balance | 44,831 | 28,923 | 43,939 | ||
Loans individually evaluated for impairment | 686 | 768 | |||
Loans collectively evaluated for impairment | 43,667 | 42,824 | |||
Loans evaluated for impairment, ending balance | 44,353 | 43,592 | |||
Purchased credit impaired loans | 478 | 347 | |||
Allowance for loan losses | 44,831 | 28,923 | 28,188 | 44,831 | 43,939 |
Other Commercial Real Estate [Member] | Loans Receivable [Member] | Loans Receivable [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans individually evaluated for impairment | 124,402 | 124,124 | |||
Loans collectively evaluated for impairment | 4,508,644 | 4,442,201 | |||
Loans evaluated for impairment, ending balance | 4,633,046 | 4,566,325 | |||
Purchased credit impaired loans | 106,314 | 116,021 | |||
Total Loans Receivable | 4,739,360 | 4,682,346 | |||
Consumer & Other [Member] | Loans Receivable [Member] | Allowance for Loan Losses [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Beginning balance | 3,334 | 4,188 | 4,188 | ||
Loans charged off | (492) | (499) | (2,033) | ||
Recoveries of loans previously charged off | 296 | 256 | 585 | ||
Net loans recovered (charged off) | (196) | (243) | (1,448) | ||
Provision for loan losses | 109 | (575) | 1,412 | ||
Ending balance | 3,247 | 3,370 | 3,334 | ||
Loans individually evaluated for impairment | 7 | ||||
Loans collectively evaluated for impairment | 3,236 | 3,310 | |||
Loans evaluated for impairment, ending balance | 3,236 | 3,317 | |||
Purchased credit impaired loans | 11 | 17 | |||
Allowance for loan losses | $ 3,247 | $ 3,370 | $ 4,188 | 3,247 | 3,334 |
Consumer & Other [Member] | Loans Receivable [Member] | Loans Receivable [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans individually evaluated for impairment | 391 | 500 | |||
Loans collectively evaluated for impairment | 238,180 | 236,392 | |||
Loans evaluated for impairment, ending balance | 238,571 | 236,892 | |||
Purchased credit impaired loans | 2,258 | 2,448 | |||
Total Loans Receivable | $ 240,829 | $ 239,340 |
Allowance for Loan Losses, Cr62
Allowance for Loan Losses, Credit Quality and Other - Summary of Aging Analysis for Loans Receivable (Detail) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans Receivable | $ 10,325,736 | $ 10,331,188 |
Multifamily Residential [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans Receivable | 464,194 | 441,303 |
Consumer [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans Receivable | 40,842 | 46,148 |
Commercial and Industrial [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans Receivable | 1,324,173 | 1,297,397 |
Loans Receivable [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 71,199 | 68,462 |
Current Loans | 10,254,537 | 10,262,726 |
Total Loans Receivable | 10,325,736 | 10,331,188 |
Accruing Loans Past Due 90 Days or More | 13,223 | 10,665 |
Loans Receivable [Member] | Multifamily Residential [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 723 | 253 |
Current Loans | 463,471 | 441,050 |
Total Loans Receivable | 464,194 | 441,303 |
Accruing Loans Past Due 90 Days or More | 99 | 100 |
Loans Receivable [Member] | Consumer [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 306 | 474 |
Current Loans | 40,536 | 45,674 |
Total Loans Receivable | 40,842 | 46,148 |
Accruing Loans Past Due 90 Days or More | 27 | 26 |
Loans Receivable [Member] | Commercial and Industrial [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 10,838 | 9,631 |
Current Loans | 1,313,335 | 1,287,766 |
Total Loans Receivable | 1,324,173 | 1,297,397 |
Accruing Loans Past Due 90 Days or More | 2,068 | 1,944 |
Loans Receivable [Member] | Agricultural and Other [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 1,495 | 538 |
Current Loans | 198,492 | 192,654 |
Total Loans Receivable | 199,987 | 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 | 9,124 | 18,844 |
Loans Past Due 30-59 Days [Member] | Loans Receivable [Member] | Multifamily Residential [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 472 | |
Loans Past Due 30-59 Days [Member] | Loans Receivable [Member] | Consumer [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 74 | 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 | 2,234 | 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 | 1,308 | 288 |
Loans Past Due 60-89 Days [Member] | Loans Receivable [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 12,586 | 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 | 36 | 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 | 1,283 | 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 | 8 | 113 |
Loans Past Due 90 Days or More [Member] | Loans Receivable [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 49,489 | 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 | 251 | 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 | 196 | 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 | 7,321 | 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 | 179 | 137 |
Commercial Real Estate Non Farm Nonresidential [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans Receivable | 4,658,209 | 4,600,117 |
Commercial Real Estate Non Farm Nonresidential [Member] | Loans Receivable [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 23,180 | 20,530 |
Current Loans | 4,635,029 | 4,579,587 |
Total Loans Receivable | 4,658,209 | 4,600,117 |
Accruing Loans Past Due 90 Days or More | 5,300 | 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 | 1,126 | 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 | 8,043 | 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 | 14,011 | 12,719 |
Commercial Real Estate Construction Land Development Loan [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans Receivable | 1,641,834 | 1,700,491 |
Commercial Real Estate Construction Land Development Loan [Member] | Loans Receivable [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 10,197 | 9,105 |
Current Loans | 1,631,637 | 1,691,386 |
Total Loans Receivable | 1,641,834 | 1,700,491 |
Accruing Loans Past Due 90 Days or More | 3,278 | 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 | 429 | 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 | 1,000 | 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 | 8,768 | 8,258 |
Agricultural [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans Receivable | 81,151 | 82,229 |
Agricultural [Member] | Loans Receivable [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 321 | 240 |
Current Loans | 80,830 | 81,989 |
Total Loans Receivable | 81,151 | 82,229 |
Agricultural [Member] | Loans Past Due 30-59 Days [Member] | Loans Receivable [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 45 | |
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 | 276 | 19 |
Residential 1-4 Family [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans Receivable | 1,915,346 | 1,970,311 |
Residential 1-4 Family [Member] | Loans Receivable [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 24,139 | 27,691 |
Current Loans | 1,891,207 | 1,942,620 |
Total Loans Receivable | 1,915,346 | 1,970,311 |
Accruing Loans Past Due 90 Days or More | 2,451 | 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 | 3,436 | 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 | 2,216 | 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 | 18,487 | 16,612 |
Residential and Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans Receivable | 8,760,734 | 8,794,451 |
Residential and Commercial Real Estate [Member] | Loans Receivable [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 58,560 | 57,819 |
Current Loans | 8,702,174 | 8,736,632 |
Total Loans Receivable | 8,760,734 | 8,794,451 |
Accruing Loans Past Due 90 Days or More | 11,128 | 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 | 5,508 | 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 | 11,259 | 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 | $ 41,793 | $ 37,861 |
Allowance for Loan Losses, Cr63
Allowance for Loan Losses, Credit Quality and Other - Summary of Impaired Loans (Detail) - USD ($) | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | Dec. 31, 2017 | |
Financing Receivable, Impaired [Line Items] | |||
Unpaid Contractual Principal Balance | $ 438,000 | $ 350,000 | |
Total Recorded Investment | 438,000 | 313,000 | |
Allocation of Allowance for Loan Losses | 0 | 0 | |
Average Recorded Investment | 395,000 | 274,000 | |
Interest Recognized | 6,000 | 21,000 | |
Unpaid Contractual Principal Balance | 96,385,000 | 81,573,000 | |
Total Recorded Investment | 82,519,000 | 75,323,000 | |
Allocation of Allowance for Loan Losses | 3,608,000 | 3,184,000 | |
Average Recorded Investment | 78,901,000 | 86,888,000 | |
Interest Recognized | 977,000 | 2,344,000 | |
Unpaid Contractual Principal Balance | 96,823,000 | 81,923,000 | |
Total Recorded Investment | 82,957,000 | 75,636,000 | |
Allocation of Allowance for Loan Losses | 3,608,000 | 3,184,000 | |
Average Recorded Investment | 79,296,000 | 87,162,000 | |
Interest Recognized | 983,000 | $ 514,000 | 2,365,000 |
Commercial Real Estate Non Farm Nonresidential [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Unpaid Contractual Principal Balance | 29,000 | 29,000 | |
Total Recorded Investment | 29,000 | 29,000 | |
Allocation of Allowance for Loan Losses | 0 | 0 | |
Average Recorded Investment | 29,000 | 23,000 | |
Interest Recognized | 2,000 | ||
Unpaid Contractual Principal Balance | 33,188,000 | 29,666,000 | |
Total Recorded Investment | 31,283,000 | 29,040,000 | |
Allocation of Allowance for Loan Losses | 676,000 | 757,000 | |
Average Recorded Investment | 30,161,000 | 41,772,000 | |
Interest Recognized | 371,000 | 1,498,000 | |
Unpaid Contractual Principal Balance | 33,217,000 | 29,695,000 | |
Total Recorded Investment | 31,312,000 | 29,069,000 | |
Allocation of Allowance for Loan Losses | 676,000 | 757,000 | |
Average Recorded Investment | 30,190,000 | 41,795,000 | |
Interest Recognized | 371,000 | 1,500,000 | |
Commercial Real Estate Construction Land Development Loan [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Unpaid Contractual Principal Balance | 19,000 | 64,000 | |
Total Recorded Investment | 19,000 | 64,000 | |
Allocation of Allowance for Loan Losses | 0 | 0 | |
Average Recorded Investment | 42,000 | 31,000 | |
Interest Recognized | 3,000 | ||
Unpaid Contractual Principal Balance | 13,264,000 | 12,976,000 | |
Total Recorded Investment | 12,208,000 | 12,157,000 | |
Allocation of Allowance for Loan Losses | 1,173,000 | 1,378,000 | |
Average Recorded Investment | 12,183,000 | 10,556,000 | |
Interest Recognized | 87,000 | 262,000 | |
Unpaid Contractual Principal Balance | 13,283,000 | 13,040,000 | |
Total Recorded Investment | 12,227,000 | 12,221,000 | |
Allocation of Allowance for Loan Losses | 1,173,000 | 1,378,000 | |
Average Recorded Investment | 12,225,000 | 10,587,000 | |
Interest Recognized | 87,000 | 265,000 | |
Agricultural [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Unpaid Contractual Principal Balance | 17,000 | 19,000 | |
Total Recorded Investment | 17,000 | ||
Allocation of Allowance for Loan Losses | 0 | 0 | |
Average Recorded Investment | 18,000 | ||
Interest Recognized | 1,000 | ||
Unpaid Contractual Principal Balance | 540,000 | 281,000 | |
Total Recorded Investment | 544,000 | 303,000 | |
Allocation of Allowance for Loan Losses | 10,000 | 11,000 | |
Average Recorded Investment | 414,000 | 268,000 | |
Interest Recognized | 7,000 | 11,000 | |
Unpaid Contractual Principal Balance | 557,000 | 300,000 | |
Total Recorded Investment | 561,000 | 303,000 | |
Allocation of Allowance for Loan Losses | 10,000 | 11,000 | |
Average Recorded Investment | 432,000 | 268,000 | |
Interest Recognized | 7,000 | 12,000 | |
Residential 1-4 Family [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Unpaid Contractual Principal Balance | 155,000 | 115,000 | |
Total Recorded Investment | 155,000 | 115,000 | |
Allocation of Allowance for Loan Losses | 0 | 0 | |
Average Recorded Investment | 135,000 | 135,000 | |
Interest Recognized | 3,000 | 7,000 | |
Unpaid Contractual Principal Balance | 23,752,000 | 19,770,000 | |
Total Recorded Investment | 20,511,000 | 18,689,000 | |
Allocation of Allowance for Loan Losses | 100,000 | 124,000 | |
Average Recorded Investment | 19,600,000 | 22,347,000 | |
Interest Recognized | 322,000 | 363,000 | |
Unpaid Contractual Principal Balance | 23,907,000 | 19,885,000 | |
Total Recorded Investment | 20,666,000 | 18,804,000 | |
Allocation of Allowance for Loan Losses | 100,000 | 124,000 | |
Average Recorded Investment | 19,735,000 | 22,482,000 | |
Interest Recognized | 325,000 | 370,000 | |
Residential and Commercial Real Estate [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Unpaid Contractual Principal Balance | 220,000 | 227,000 | |
Total Recorded Investment | 220,000 | 208,000 | |
Allocation of Allowance for Loan Losses | 0 | 0 | |
Average Recorded Investment | 224,000 | 189,000 | |
Interest Recognized | 3,000 | 13,000 | |
Unpaid Contractual Principal Balance | 72,481,000 | 64,320,000 | |
Total Recorded Investment | 66,260,000 | 61,816,000 | |
Allocation of Allowance for Loan Losses | 2,018,000 | 2,334,000 | |
Average Recorded Investment | 64,028,000 | 76,355,000 | |
Interest Recognized | 806,000 | 2,215,000 | |
Unpaid Contractual Principal Balance | 72,701,000 | 64,547,000 | |
Total Recorded Investment | 66,480,000 | 62,024,000 | |
Allocation of Allowance for Loan Losses | 2,018,000 | 2,334,000 | |
Average Recorded Investment | 64,252,000 | 76,544,000 | |
Interest Recognized | 809,000 | 2,228,000 | |
Commercial and Industrial [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Unpaid Contractual Principal Balance | 202,000 | 105,000 | |
Total Recorded Investment | 202,000 | 105,000 | |
Allocation of Allowance for Loan Losses | 0 | 0 | |
Average Recorded Investment | 154,000 | 85,000 | |
Interest Recognized | 3,000 | 7,000 | |
Unpaid Contractual Principal Balance | 23,524,000 | 16,777,000 | |
Total Recorded Investment | 15,885,000 | 13,007,000 | |
Allocation of Allowance for Loan Losses | 1,590,000 | 843,000 | |
Average Recorded Investment | 14,445,000 | 9,726,000 | |
Interest Recognized | 150,000 | 121,000 | |
Unpaid Contractual Principal Balance | 23,726,000 | 16,882,000 | |
Total Recorded Investment | 16,087,000 | 13,112,000 | |
Allocation of Allowance for Loan Losses | 1,590,000 | 843,000 | |
Average Recorded Investment | 14,599,000 | 9,811,000 | |
Interest Recognized | 153,000 | 128,000 | |
Agricultural and Other [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Allocation of Allowance for Loan Losses | 0 | 0 | |
Unpaid Contractual Principal Balance | 179,000 | 297,000 | |
Total Recorded Investment | 179,000 | 309,000 | |
Allocation of Allowance for Loan Losses | 7,000 | ||
Average Recorded Investment | 244,000 | 644,000 | |
Interest Recognized | 3,000 | 8,000 | |
Unpaid Contractual Principal Balance | 179,000 | 297,000 | |
Total Recorded Investment | 179,000 | 309,000 | |
Allocation of Allowance for Loan Losses | 7,000 | ||
Average Recorded Investment | 244,000 | 644,000 | |
Interest Recognized | 3,000 | 8,000 | |
Consumer [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Unpaid Contractual Principal Balance | 16,000 | 18,000 | |
Total Recorded Investment | 16,000 | ||
Allocation of Allowance for Loan Losses | 0 | 0 | |
Average Recorded Investment | 17,000 | ||
Interest Recognized | 1,000 | ||
Unpaid Contractual Principal Balance | 201,000 | 179,000 | |
Total Recorded Investment | 195,000 | 191,000 | |
Average Recorded Investment | 184,000 | 163,000 | |
Interest Recognized | 18,000 | ||
Unpaid Contractual Principal Balance | 217,000 | 197,000 | |
Total Recorded Investment | 211,000 | 191,000 | |
Average Recorded Investment | 201,000 | 163,000 | |
Interest Recognized | 18,000 | 1,000 | |
Multifamily Residential [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Allocation of Allowance for Loan Losses | 0 | 0 | |
Unpaid Contractual Principal Balance | 1,737,000 | 1,627,000 | |
Total Recorded Investment | 1,714,000 | 1,627,000 | |
Allocation of Allowance for Loan Losses | 59,000 | 64,000 | |
Average Recorded Investment | 1,670,000 | 1,412,000 | |
Interest Recognized | 19,000 | 81,000 | |
Unpaid Contractual Principal Balance | 1,737,000 | 1,627,000 | |
Total Recorded Investment | 1,714,000 | 1,627,000 | |
Allocation of Allowance for Loan Losses | 59,000 | 64,000 | |
Average Recorded Investment | 1,670,000 | 1,412,000 | |
Interest Recognized | $ 19,000 | $ 81,000 |
Allowance for Loan Losses, Cr64
Allowance for Loan Losses, Credit Quality and Other - Presentation of Classified Loans by Class and Risk Rating (Detail) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable not covered by loss share | $ 10,143,878 | $ 10,133,136 |
Purchased credit impaired loans acquired | 181,858 | 198,052 |
Loans receivable | 10,325,736 | 10,331,188 |
Commercial Real Estate Non Farm Nonresidential [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable not covered by loss share | 4,552,104 | 4,484,302 |
Loans receivable | 4,658,209 | 4,600,117 |
Commercial Real Estate Construction Land Development Loan [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable not covered by loss share | 1,627,857 | 1,685,379 |
Loans receivable | 1,641,834 | 1,700,491 |
Agricultural [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable not covered by loss share | 80,942 | 82,023 |
Loans receivable | 81,151 | 82,229 |
Residential 1-4 Family [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable not covered by loss share | 1,877,232 | 1,928,219 |
Loans receivable | 1,915,346 | 1,970,311 |
Residential and Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable not covered by loss share | 8,594,928 | 8,613,216 |
Loans receivable | 8,760,734 | 8,794,451 |
Agricultural and Other [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable not covered by loss share | 198,651 | 191,729 |
Loans Receivable [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 10,325,736 | 10,331,188 |
Loans Receivable [Member] | Commercial Real Estate Non Farm Nonresidential [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 4,658,209 | 4,600,117 |
Loans Receivable [Member] | Commercial Real Estate Construction Land Development Loan [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 1,641,834 | 1,700,491 |
Loans Receivable [Member] | Agricultural [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 81,151 | 82,229 |
Loans Receivable [Member] | Residential 1-4 Family [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 1,915,346 | 1,970,311 |
Loans Receivable [Member] | Residential and Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 8,760,734 | 8,794,451 |
Consumer [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable not covered by loss share | 39,920 | 45,163 |
Loans receivable | 40,842 | 46,148 |
Consumer [Member] | Loans Receivable [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 40,842 | 46,148 |
Commercial and Industrial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable not covered by loss share | 1,310,379 | 1,283,028 |
Loans receivable | 1,324,173 | 1,297,397 |
Commercial and Industrial [Member] | Loans Receivable [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 1,324,173 | 1,297,397 |
Agricultural and Other [Member] | Loans Receivable [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 199,987 | 193,192 |
Multifamily Residential [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable not covered by loss share | 456,793 | 433,293 |
Loans receivable | 464,194 | 441,303 |
Multifamily Residential [Member] | Loans Receivable [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 464,194 | 441,303 |
Risk Rated 1 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable not covered by loss share | 38,814 | 38,145 |
Risk Rated 1 [Member] | Commercial Real Estate Non Farm Nonresidential [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable not covered by loss share | 1,009 | 1,015 |
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 | 25 | 28 |
Risk Rated 1 [Member] | Residential 1-4 Family [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable not covered by loss share | 807 | 1,140 |
Risk Rated 1 [Member] | Residential and Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable not covered by loss share | 1,841 | 2,183 |
Risk Rated 1 [Member] | Agricultural and Other [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable not covered by loss share | 1,711 | 1,986 |
Risk Rated 1 [Member] | Consumer [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable not covered by loss share | 12,391 | 13,106 |
Risk Rated 1 [Member] | Commercial and Industrial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable not covered by loss share | 22,871 | 20,870 |
Risk Rated 2 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable not covered by loss share | 13,626 | 14,394 |
Risk Rated 2 [Member] | Commercial Real Estate Non Farm Nonresidential [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable not covered by loss share | 436 | 558 |
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 | 575 | 583 |
Risk Rated 2 [Member] | Agricultural [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable not covered by loss share | 19 | |
Risk Rated 2 [Member] | Residential 1-4 Family [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable not covered by loss share | 849 | 969 |
Risk Rated 2 [Member] | Residential and Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable not covered by loss share | 1,860 | 2,129 |
Risk Rated 2 [Member] | Agricultural and Other [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable not covered by loss share | 3,867 | 3,914 |
Risk Rated 2 [Member] | Consumer [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable not covered by loss share | 724 | 808 |
Risk Rated 2 [Member] | Commercial and Industrial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable not covered by loss share | 7,175 | 7,543 |
Risk Rated 3 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable not covered by loss share | 5,512,360 | 5,470,879 |
Risk Rated 3 [Member] | Commercial Real Estate Non Farm Nonresidential [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable not covered by loss share | 2,635,934 | 2,595,844 |
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 | 271,278 | 280,980 |
Risk Rated 3 [Member] | Agricultural [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable not covered by loss share | 51,568 | 53,018 |
Risk Rated 3 [Member] | Residential 1-4 Family [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable not covered by loss share | 1,438,822 | 1,414,849 |
Risk Rated 3 [Member] | Residential and Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable not covered by loss share | 4,692,277 | 4,673,761 |
Risk Rated 3 [Member] | Agricultural and Other [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable not covered by loss share | 141,820 | 147,323 |
Risk Rated 3 [Member] | Consumer [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable not covered by loss share | 18,742 | 22,479 |
Risk Rated 3 [Member] | Commercial and Industrial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable not covered by loss share | 659,521 | 627,316 |
Risk Rated 3 [Member] | Multifamily Residential [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable not covered by loss share | 294,675 | 329,070 |
Risk Rated 4 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable not covered by loss share | 4,324,105 | 4,364,106 |
Risk Rated 4 [Member] | Commercial Real Estate Non Farm Nonresidential [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable not covered by loss share | 1,769,225 | 1,745,778 |
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 | 1,330,942 | 1,373,133 |
Risk Rated 4 [Member] | Agricultural [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable not covered by loss share | 27,653 | 27,515 |
Risk Rated 4 [Member] | Residential 1-4 Family [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable not covered by loss share | 399,975 | 475,619 |
Risk Rated 4 [Member] | Residential and Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable not covered by loss share | 3,688,765 | 3,725,116 |
Risk Rated 4 [Member] | Agricultural and Other [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable not covered by loss share | 51,055 | 38,370 |
Risk Rated 4 [Member] | Consumer [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable not covered by loss share | 7,809 | 8,532 |
Risk Rated 4 [Member] | Commercial and Industrial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable not covered by loss share | 576,476 | 592,088 |
Risk Rated 4 [Member] | Multifamily Residential [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable not covered by loss share | 160,970 | 103,071 |
Risk Rated 5 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable not covered by loss share | 166,887 | 161,498 |
Risk Rated 5 [Member] | Commercial Real Estate Non Farm Nonresidential [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable not covered by loss share | 122,506 | 119,656 |
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 | 1,430 | 6,438 |
Risk Rated 5 [Member] | Agricultural [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable not covered by loss share | 1,148 | 1,150 |
Risk Rated 5 [Member] | Residential 1-4 Family [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable not covered by loss share | 12,067 | 11,658 |
Risk Rated 5 [Member] | Residential and Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable not covered by loss share | 137,363 | 139,115 |
Risk Rated 5 [Member] | Consumer [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable not covered by loss share | 73 | 70 |
Risk Rated 5 [Member] | Commercial and Industrial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable not covered by loss share | 29,451 | 22,313 |
Risk Rated 5 [Member] | Multifamily Residential [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable not covered by loss share | 212 | 213 |
Classified Total [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable not covered by loss share | 88,086 | 84,114 |
Classified Total [Member] | Commercial Real Estate Non Farm Nonresidential [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable not covered by loss share | 22,994 | 21,451 |
Classified Total [Member] | Commercial Real Estate Construction Land Development Loan [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable not covered by loss share | 23,607 | 24,217 |
Classified Total [Member] | Agricultural [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable not covered by loss share | 573 | 321 |
Classified Total [Member] | Residential 1-4 Family [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable not covered by loss share | 24,712 | 23,984 |
Classified Total [Member] | Residential and Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable not covered by loss share | 72,822 | 70,912 |
Classified Total [Member] | Agricultural and Other [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable not covered by loss share | 198 | 136 |
Classified Total [Member] | Loans Receivable [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 88,086 | 84,114 |
Classified Total [Member] | Loans Receivable [Member] | Commercial Real Estate Non Farm Nonresidential [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 22,994 | 21,451 |
Classified Total [Member] | Loans Receivable [Member] | Commercial Real Estate Construction Land Development Loan [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 23,607 | 24,217 |
Classified Total [Member] | Loans Receivable [Member] | Agricultural [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 573 | 321 |
Classified Total [Member] | Loans Receivable [Member] | Residential 1-4 Family [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 24,712 | 23,984 |
Classified Total [Member] | Loans Receivable [Member] | Residential and Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 72,822 | 70,912 |
Classified Total [Member] | Consumer [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable not covered by loss share | 181 | 168 |
Classified Total [Member] | Consumer [Member] | Loans Receivable [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 181 | 168 |
Classified Total [Member] | Commercial and Industrial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable not covered by loss share | 14,885 | 12,898 |
Classified Total [Member] | Commercial and Industrial [Member] | Loans Receivable [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 14,885 | 12,898 |
Classified Total [Member] | Agricultural and Other [Member] | Loans Receivable [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 198 | 136 |
Classified Total [Member] | Multifamily Residential [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable not covered by loss share | 936 | 939 |
Classified Total [Member] | Multifamily Residential [Member] | Loans Receivable [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 936 | 939 |
Risk Rated 6 [Member] | Loans Receivable [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 86,603 | 82,739 |
Risk Rated 6 [Member] | Loans Receivable [Member] | Commercial Real Estate Non Farm Nonresidential [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 22,426 | 20,933 |
Risk Rated 6 [Member] | Loans Receivable [Member] | Commercial Real Estate Construction Land Development Loan [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 23,607 | 24,013 |
Risk Rated 6 [Member] | Loans Receivable [Member] | Agricultural [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 573 | 321 |
Risk Rated 6 [Member] | Loans Receivable [Member] | Residential 1-4 Family [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 24,051 | 23,420 |
Risk Rated 6 [Member] | Loans Receivable [Member] | Residential and Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 71,593 | 69,626 |
Risk Rated 6 [Member] | Consumer [Member] | Loans Receivable [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 179 | 159 |
Risk Rated 6 [Member] | Commercial and Industrial [Member] | Loans Receivable [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 14,636 | 12,818 |
Risk Rated 6 [Member] | Agricultural and Other [Member] | Loans Receivable [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 195 | 136 |
Risk Rated 6 [Member] | Multifamily Residential [Member] | Loans Receivable [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 936 | 939 |
Risk Rated 7 [Member] | Loans Receivable [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 1,483 | 1,375 |
Risk Rated 7 [Member] | Loans Receivable [Member] | Commercial Real Estate Non Farm Nonresidential [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 568 | 518 |
Risk Rated 7 [Member] | Loans Receivable [Member] | Commercial Real Estate Construction Land Development Loan [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 204 | |
Risk Rated 7 [Member] | Loans Receivable [Member] | Residential 1-4 Family [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 661 | 564 |
Risk Rated 7 [Member] | Loans Receivable [Member] | Residential and Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 1,229 | 1,286 |
Risk Rated 7 [Member] | Consumer [Member] | Loans Receivable [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 2 | 9 |
Risk Rated 7 [Member] | Commercial and Industrial [Member] | Loans Receivable [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | 249 | $ 80 |
Risk Rated 7 [Member] | Agricultural and Other [Member] | Loans Receivable [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans receivable | $ 3 |
Allowance for Loan Losses, Cr65
Allowance for Loan Losses, Credit Quality and Other - Presentation of Troubled Debt Restructurings ("TDRs") by Class (Detail) - Loans Receivable [Member] $ in Thousands | 3 Months Ended | 12 Months Ended |
Mar. 31, 2018USD ($)Contracts | Dec. 31, 2017USD ($)Contracts | |
Financing Receivable, Modifications [Line Items] | ||
Number of Loans | Contracts | 54 | 62 |
Pre-Modification Outstanding Balance | $ 23,368 | $ 26,424 |
Post-Modification Outstanding Balance | $ 20,725 | $ 21,198 |
Commercial Real Estate Non Farm Nonresidential [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Loans | Contracts | 15 | 16 |
Pre-Modification Outstanding Balance | $ 15,856 | $ 16,853 |
Post-Modification Outstanding Balance | $ 14,519 | $ 14,578 |
Commercial Real Estate Construction Land Development Loan [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Loans | Contracts | 3 | 5 |
Pre-Modification Outstanding Balance | $ 641 | $ 782 |
Post-Modification Outstanding Balance | $ 627 | $ 764 |
Agricultural [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Loans | Contracts | 2 | 2 |
Pre-Modification Outstanding Balance | $ 345 | $ 345 |
Post-Modification Outstanding Balance | $ 302 | $ 304 |
Residential 1-4 Family [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Loans | Contracts | 17 | 21 |
Pre-Modification Outstanding Balance | $ 3,605 | $ 5,607 |
Post-Modification Outstanding Balance | $ 2,897 | $ 3,245 |
Residential and Commercial Real Estate [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Loans | Contracts | 40 | 47 |
Pre-Modification Outstanding Balance | $ 22,148 | $ 25,288 |
Post-Modification Outstanding Balance | $ 19,959 | $ 20,518 |
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 | 11 |
Pre-Modification Outstanding Balance | $ 1,201 | $ 951 |
Post-Modification Outstanding Balance | $ 751 | $ 496 |
Consumer [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Loans | Contracts | 3 | 3 |
Pre-Modification Outstanding Balance | $ 19 | $ 19 |
Post-Modification Outstanding Balance | 15 | 18 |
Rate Modification [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Post-Modification Outstanding Balance | 13,264 | 13,663 |
Rate Modification [Member] | Commercial Real Estate Non Farm Nonresidential [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Post-Modification Outstanding Balance | 8,770 | 8,815 |
Rate Modification [Member] | Commercial Real Estate Construction Land Development Loan [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Post-Modification Outstanding Balance | 555 | 689 |
Rate Modification [Member] | Agricultural [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Post-Modification Outstanding Balance | 282 | 282 |
Rate Modification [Member] | Residential 1-4 Family [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Post-Modification Outstanding Balance | 1,626 | 1,926 |
Rate Modification [Member] | Residential and Commercial Real Estate [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Post-Modification Outstanding Balance | 12,560 | 13,052 |
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 | 704 | 445 |
Term Modification [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Post-Modification Outstanding Balance | 478 | 496 |
Term Modification [Member] | Commercial Real Estate Non Farm Nonresidential [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Post-Modification Outstanding Balance | 247 | 250 |
Term Modification [Member] | Commercial Real Estate Construction Land Development Loan [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Post-Modification Outstanding Balance | 72 | 75 |
Term Modification [Member] | Agricultural [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Post-Modification Outstanding Balance | 20 | 22 |
Term Modification [Member] | Residential 1-4 Family [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Post-Modification Outstanding Balance | 77 | 81 |
Term Modification [Member] | Residential and Commercial Real Estate [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Post-Modification Outstanding Balance | 416 | 428 |
Term Modification [Member] | Commercial and Industrial [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Post-Modification Outstanding Balance | 47 | 50 |
Term Modification [Member] | Consumer [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Post-Modification Outstanding Balance | 15 | 18 |
Rate and Term Modification [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Post-Modification Outstanding Balance | 6,983 | 7,039 |
Rate and Term Modification [Member] | Commercial Real Estate Non Farm Nonresidential [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Post-Modification Outstanding Balance | 5,502 | 5,513 |
Rate and Term Modification [Member] | Residential 1-4 Family [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Post-Modification Outstanding Balance | 1,194 | 1,238 |
Rate and Term Modification [Member] | Residential and Commercial Real Estate [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Post-Modification Outstanding Balance | $ 6,983 | 7,038 |
Rate and Term Modification [Member] | Commercial and Industrial [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Post-Modification Outstanding Balance | $ 1 | |
Multifamily Residential [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Loans | Contracts | 3 | 3 |
Pre-Modification Outstanding Balance | $ 1,701 | $ 1,701 |
Post-Modification Outstanding Balance | 1,614 | 1,627 |
Multifamily Residential [Member] | Rate Modification [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Post-Modification Outstanding Balance | 1,327 | 1,340 |
Multifamily Residential [Member] | Rate and Term Modification [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Post-Modification Outstanding Balance | $ 287 | $ 287 |
Allowance for Loan Losses, Cr66
Allowance for Loan Losses, Credit Quality and Other - Presentation of TDR's on Non-Accrual Status (Detail) $ in Thousands | 3 Months Ended | 12 Months Ended |
Mar. 31, 2018USD ($)Contracts | Dec. 31, 2017USD ($)Contracts | |
Financing Receivable, Modifications [Line Items] | ||
Number of Loans | Contracts | 10 | 13 |
Recorded Balance | $ | $ 2,400 | $ 2,186 |
Multifamily Residential [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Loans | Contracts | 1 | 1 |
Recorded Balance | $ | $ 152 | $ 153 |
Commercial Real Estate Non Farm Nonresidential [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Loans | Contracts | 1 | 2 |
Recorded Balance | $ | $ 1,189 | $ 1,161 |
Agricultural [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Loans | Contracts | 1 | 1 |
Recorded Balance | $ | $ 20 | $ 22 |
Residential 1-4 Family [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Loans | Contracts | 6 | 8 |
Recorded Balance | $ | $ 807 | $ 850 |
Residential and Commercial Real Estate [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Loans | Contracts | 9 | 12 |
Recorded Balance | $ | $ 2,168 | $ 2,186 |
Commercial and Industrial [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Loans | Contracts | 1 | 1 |
Recorded Balance | $ | $ 232 |
Allowance for Loan Losses, Cr67
Allowance for Loan Losses, Credit Quality and Other - Summary of Total Foreclosed Assets (Detail) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Schedule Of Foreclosed Assets Activity [Line Items] | ||
Total foreclosed assets held for sale | $ 20,134 | $ 18,867 |
Commercial Real Estate Non Farm Nonresidential [Member] | ||
Schedule Of Foreclosed Assets Activity [Line Items] | ||
Total foreclosed assets held for sale | 8,720 | 9,766 |
Commercial Real Estate Construction Land Development Loan [Member] | ||
Schedule Of Foreclosed Assets Activity [Line Items] | ||
Total foreclosed assets held for sale | 5,292 | 5,920 |
Residential 1-4 Family [Member] | ||
Schedule Of Foreclosed Assets Activity [Line Items] | ||
Total foreclosed assets held for sale | 5,660 | 2,654 |
Multifamily Residential [Member] | ||
Schedule Of Foreclosed Assets Activity [Line Items] | ||
Total foreclosed assets held for sale | $ 462 | $ 527 |
Allowance for Loan Losses, Cr68
Allowance for Loan Losses, Credit Quality and Other - Summary of Purchased Credit Impaired Loans Acquired (Detail) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | ||
Non-accretable difference (expected losses and foregone interest) | $ 49,400 | $ 51,900 |
Accretable yield | $ 88,000 | 94,700 |
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, Cr69
Allowance for Loan Losses, Credit Quality and Other - Changes in Carrying Amount of Accretable Yield for Purchased Credit Impaired Loans (Detail) $ in Thousands | 3 Months Ended |
Mar. 31, 2018USD ($) | |
Receivables [Abstract] | |
Balance at beginning of period, Accretable Yield | $ 41,803 |
Reforecasted future interest payments for loan pools, Accretable Yield | 202 |
Accretion recorded to interest income, Accretable Yield | (4,670) |
Adjustment to yield, Accretable Yield | 1,589 |
Transfers to foreclosed assets held for sale, Accretable Yield | 0 |
Payments received, net, Accretable Yield | 0 |
Balance at end of period, Accretable Yield | 38,924 |
Balance at beginning of period, Carrying Amount of Loans | 198,052 |
Reforecasted future interest payments for loan pools, Carrying Amount of Loans | 0 |
Accretion recorded to interest income, Carrying Amount of Loans | 4,670 |
Adjustment to yield, Carrying Amount of Loans | 0 |
Transfers to foreclosed assets held for sale | (870) |
Payments received, net, Carrying Amount of Loans | (19,994) |
Balance at end of period, Carrying Amount of Loans | $ 181,858 |
Goodwill and Core Deposits an70
Goodwill and Core Deposits and Other Intangibles - Summary of Changes in Carrying Amount and Accumulated Amortization of Company's Goodwill and Core Deposits and Other Intangibles (Detail) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | Dec. 31, 2017 | |
Goodwill | |||
Balance, beginning of period | $ 927,949 | $ 377,983 | $ 377,983 |
Acquisitions | 549,966 | ||
Balance, end of period | 927,949 | 927,949 | |
Core Deposit and Other Intangibles | |||
Balance, beginning of period | 49,351 | 18,311 | 18,311 |
Acquisitions | 4,378 | 30,869 | |
Amortization expense | (1,625) | (804) | (3,403) |
Balance, end of year | $ 47,726 | $ 21,885 | $ 49,351 |
Goodwill and Core Deposits an71
Goodwill and Core Deposits and Other Intangibles - Summary of Carrying Amount and Accumulated Amortization of Core Deposits and Other Intangibles (Detail) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 | Mar. 31, 2017 | Dec. 31, 2016 |
Goodwill and Intangible Assets Disclosure [Abstract] | ||||
Gross carrying basis | $ 86,625 | $ 86,625 | ||
Accumulated amortization | (38,899) | (37,274) | ||
Net carrying amount | $ 47,726 | $ 49,351 | $ 21,885 | $ 18,311 |
Goodwill and Core Deposits an72
Goodwill and Core Deposits and Other Intangibles - Additional Information (Detail) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | ||
Mar. 31, 2018 | Mar. 31, 2017 | Dec. 31, 2017 | Dec. 31, 2016 | |
Goodwill and Intangible Assets Disclosure [Abstract] | ||||
Core deposit and other intangible amortization | $ 1,625 | $ 804 | $ 3,403 | |
Amortization expense for year 2018 | 6,600 | |||
Amortization expense for year 2019 | 6,500 | |||
Amortization expense for year 2020 | 5,900 | |||
Amortization expense for year 2021 | 5,700 | |||
Amortization expense for year 2022 | 5,700 | |||
Carrying amount of Company's goodwill | $ 927,949 | $ 927,949 | $ 377,983 |
Other Assets - Additional Infor
Other Assets - Additional Information (Detail) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Schedule Of Other Assets [Line Items] | ||
Other assets | $ 186,001 | $ 177,779 |
Federal Home Loan Bank ("FHLB") and Federal Reserve Bank ("Federal Reserve") [Member] | ||
Schedule Of Other Assets [Line Items] | ||
Fair value of equity securities | 132,400 | 132,100 |
Bankers' Bank and Other Miscellaneous Holdings [Member] | ||
Schedule Of Other Assets [Line Items] | ||
Fair value of equity securities | $ 23,800 | $ 23,900 |
Deposits - Additional Informati
Deposits - Additional Information (Detail) - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2018 | Mar. 31, 2017 | Dec. 31, 2017 | |
Deposits [Line Items] | |||
Time deposits with a minimum denomination of $250,000 | $ 580,900 | $ 636,900 | |
Time deposits with a minimum denomination of $100,000 | 1,000,000 | 998,300 | |
Interest expense applicable to certificate | 2,800 | $ 1,700 | |
Brokered deposits | 962,300 | 1,030,000 | |
Total deposits | 10,396,615 | 10,388,502 | |
State and Political Subdivisions [Member] | |||
Deposits [Line Items] | |||
Total deposits | $ 1,460,000 | $ 1,510,000 |
Securities Sold Under Agreeme75
Securities Sold Under Agreements to Repurchase - Additional Information (Detail) - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2018 | Mar. 31, 2017 | Dec. 31, 2017 | |
Securities Sold under Agreements to Repurchase [Abstract] | |||
Securities sold under agreements to repurchase | $ 150,315 | $ 147,789 | |
Securities sold under agreements to repurchase daily weighted average | $ 152,700 | $ 124,100 |
Securities Sold Under Agreeme76
Securities Sold Under Agreements to Repurchase - Summary of Remaining Contractual Maturity of Securities Sold Under Agreements to Repurchase (Detail) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Assets Sold under Agreements to Repurchase [Line Items] | ||
Total borrowings | $ 150,315 | $ 147,789 |
U.S. Government-Sponsored Enterprises [Member] | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Total borrowings | 18,506 | 21,525 |
Mortgage-Backed Securities [Member] | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Total borrowings | 6,565 | 21,255 |
State and Political Subdivisions [Member] | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Total borrowings | 101,722 | 85,428 |
Other Securities [Member] | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Total borrowings | 23,522 | 19,581 |
Overnight and Continuous [Member] | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Total borrowings | 150,315 | 137,789 |
Overnight and Continuous [Member] | U.S. Government-Sponsored Enterprises [Member] | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Total borrowings | 18,506 | 11,525 |
Overnight and Continuous [Member] | Mortgage-Backed Securities [Member] | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Total borrowings | 6,565 | 21,255 |
Overnight and Continuous [Member] | State and Political Subdivisions [Member] | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Total borrowings | 101,722 | 85,428 |
Overnight and Continuous [Member] | Other Securities [Member] | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Total borrowings | $ 23,522 | 19,581 |
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 ($) | Mar. 31, 2018 | Dec. 31, 2017 |
Borrowed Funds [Line Items] | ||
FHLB borrowed funds | $ 1,120,000,000 | $ 1,300,000,000 |
Maturity of FHLB advances | 2,027 | |
Short-term advances | $ 475,000,000 | 525,000,000 |
Long-term advances | 640,100,000 | 774,200,000 |
Line of credit | 697,300,000 | $ 695,300,000 |
Maturities of Borrowings, remainder of 2018 | 800,200,000 | |
Maturities of Borrowings, 2019 | 143,100,000 | |
Maturities of Borrowings, 2020 | 146,400,000 | |
Maturities of Borrowings, 2021 | 0 | |
Maturities of Borrowings, after 2021 | $ 25,400,000 | |
Minimum [Member] | ||
Borrowed Funds [Line Items] | ||
FHLB interest rate | 0.85% | |
Maximum [Member] | ||
Borrowed Funds [Line Items] | ||
FHLB interest rate | 4.80% |
Other Borrowings - Additional I
Other Borrowings - Additional Information (Detail) - USD ($) | Mar. 31, 2018 | Dec. 31, 2017 |
Line of Credit Facility [Line Items] | ||
Unsecured line of credit | $ 697,300,000 | $ 695,300,000 |
Other borrowings | 0 | |
Line of Credit [Member] | ||
Line of Credit Facility [Line Items] | ||
Credit facility, maximum borrowing capacity | 20,000,000 | |
Unsecured line of credit | $ 0 | $ 0 |
Subordinated Debentures - Prefe
Subordinated Debentures - Preferred Trust Securities and Subordinated Debentures (Detail) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Debt Instrument [Line Items] | ||
Subordinated debentures, issued | $ 368,212 | $ 368,031 |
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 | 4,316 | 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 | 5,592 | 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 | $ 297,478 | $ 297,332 |
Subordinated Debentures - Pre80
Subordinated Debentures - Preferred Trust Securities and Subordinated Debentures (Parenthetical) (Detail) | 3 Months Ended | 12 Months Ended |
Mar. 31, 2018 | 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 | Dec. 31, 2006 |
Subordinated debentures, due date | Dec. 31, 2036 | Dec. 31, 2036 |
Fixed rate for first five years | 6.75% | 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% | 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 | Dec. 31, 2004 |
Subordinated debentures, due date | Dec. 31, 2034 | Dec. 31, 2034 |
Fixed rate for first five years | 6.00% | 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% | 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 | Dec. 31, 2005 |
Subordinated debentures, due date | Dec. 31, 2035 | Dec. 31, 2035 |
Fixed rate for first five years | 5.84% | 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% | 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 | Dec. 31, 2004 |
Subordinated debentures, due date | Dec. 31, 2034 | Dec. 31, 2034 |
Fixed rate for first five years | 4.29% | 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% | 2.50% |
Due 2035, floating rate 2.15% [Member] | Trust Preferred Securities [Member] | ||
Debt Instrument [Line Items] | ||
Subordinated debentures, issued date | Dec. 31, 2005 | Dec. 31, 2005 |
Subordinated debentures, due date | Dec. 31, 2035 | 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% | 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 | Dec. 31, 2006 |
Subordinated debentures, due date | Dec. 31, 2036 | Dec. 31, 2036 |
Fixed rate for first five years | 7.38% | 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% | 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 | Sep. 30, 2017 |
Subordinated debentures, due date | Dec. 31, 2027 | Dec. 31, 2027 |
Fixed rate for first five years | 5.625% | 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% | 3.575% |
Subordinated debentures, callable year | 2,022 |
Subordinated Debentures - Addit
Subordinated Debentures - Additional Information (Detail) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2018 | Dec. 31, 2017 | |
Trust Preferred Securities [Member] | Stonegate Bank [Member] | ||
Debt Instrument [Line Items] | ||
Trust preferred securities, face amount | $ 12.5 | |
Trust preferred securities, fair value | $ 9.9 | $ 9.8 |
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. | |
Trust Preferred Securities [Member] | ||
Debt Instrument [Line Items] | ||
Face value of company held trust preferred securities | $ 73.3 |
Income Taxes - Additional infor
Income Taxes - Additional information (Detail) | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | Dec. 31, 2017 | |
Income Tax Disclosure [Abstract] | |||
Statutory federal income tax rate | 21.00% | 35.00% | 35.00% |
Income Taxes - Summary of Compo
Income Taxes - Summary of Components of Provision (Benefit) for Income Taxes (Detail) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Current: | ||
Federal | $ 15,005 | $ 19,392 |
State | 4,967 | 3,852 |
Total current | 19,972 | 23,244 |
Deferred: | ||
Federal | 3,004 | 1,777 |
State | 994 | 353 |
Total deferred | 3,998 | 2,130 |
Income tax expense | $ 23,970 | $ 25,374 |
Income Taxes - Reconciliation b
Income Taxes - Reconciliation between Statutory Federal Income Tax Rate and Effective Income Tax Rate (Detail) | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | Dec. 31, 2017 | |
Effective Income Tax Rate Reconciliation, Percent [Abstract] | |||
Statutory federal income tax rate | 21.00% | 35.00% | 35.00% |
Effect of non-taxable interest income | (0.74%) | (1.51%) | |
Effect of gain on acquisitions | (1.84%) | ||
Stock compensation | (0.83%) | (1.09%) | |
State income taxes, net of federal benefit | 4.10% | 3.93% | |
Other | 1.17% | 0.64% | |
Effective income tax rate | 24.70% | 35.13% |
Income Taxes - Differences Betw
Income Taxes - Differences Between Tax Basis of Assets and Liabilities (Detail) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Deferred tax assets: | ||
Allowance for loan losses | $ 30,075 | $ 29,515 |
Deferred compensation | 1,093 | 1,142 |
Stock compensation | 2,989 | 2,731 |
Real estate owned | 1,565 | 1,731 |
Unrealized loss on securities available-for-sale | 7,233 | 1,471 |
Loan discounts | 28,246 | 32,784 |
Tax basis premium/discount on acquisitions | 8,990 | 8,802 |
Investments | 1,062 | 1,155 |
Other | 11,677 | 11,663 |
Gross deferred tax assets | 92,930 | 90,994 |
Deferred tax liabilities: | ||
Accelerated depreciation on premises and equipment | 383 | 291 |
Core deposit intangibles | 10,895 | 11,258 |
FHLB dividends | 1,712 | 1,625 |
Other | 1,612 | 1,256 |
Gross deferred tax liabilities | 14,602 | 14,430 |
Net deferred tax assets | $ 78,328 | $ 76,564 |
Common Stock, Compensation Pl86
Common Stock, Compensation Plans and Other - Additional Information (Detail) - USD ($) | Feb. 21, 2018 | Mar. 31, 2018 | Dec. 31, 2017 |
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 | 14,752,000 | ||
Number of shares repurchased during period | 303,637 | 857,800 | |
Weighted average stock price | $ 23.41 | ||
Repurchase of combining of all the shares | 4,828,501 | ||
Remaining balance available for repurchase | 9,923,499 | ||
Remaining shares of common stock available for future grants | 2,132,000 | ||
Shares of common stock reserved for issuance | 4,319,000 | ||
Intrinsic value of stock options outstanding | $ 13,200,000 | ||
Intrinsic value of stock options vested | 8,000,000 | ||
Share-based compensation expenses related to non-vested awards | 4,800,000 | ||
Unrecognized compensation cost net of income tax benefit, related to non-vested stock option awards | $ 503,000 | ||
Weighted average fair value of options granted (split adjusted) | $ 0 | $ 7.10 | |
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 stock option awards | $ 14,900,000 |
Common Stock, Compensation Pl87
Common Stock, Compensation Plans and Other - Summary of Stock Option Transactions under Incentive Plan (Split Adjusted) (Detail) - $ / shares | 3 Months Ended | 12 Months Ended |
Mar. 31, 2018 | Dec. 31, 2017 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ||
Outstanding Shares, beginning of year | 2,274,000 | 2,397,000 |
Granted Shares | 80,000 | |
Forfeited/Expired Shares | 0 | 0 |
Exercised Shares | (142,000) | (203,000) |
Outstanding, end of period | 2,132,000 | 2,274,000 |
Exercisable, end of period | 933,000 | 1,016,000 |
Outstanding Weighted Average Exercisable Price, beginning of year | $ 16.23 | $ 15.19 |
Weighted Average Exercisable Price, Granted | 25.96 | |
Weighted Average Exercisable Price, Forfeited/Expired | 0 | 0 |
Weighted Average Exercisable Price, Exercised | 8.82 | 7.82 |
Outstanding, end of period | 16.72 | 16.23 |
Exercisable, end of period | $ 14.19 | $ 13.55 |
Common Stock, Compensation Pl88
Common Stock, Compensation Plans and Other - Summary of Stock Options on Valuation Assumptions (Detail) | 12 Months Ended |
Dec. 31, 2017 | |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions and Methodology [Abstract] | |
Expected dividend yield | 1.39% |
Expected stock price volatility | 28.47% |
Risk-free interest rate | 2.06% |
Expected life of options | 6 years 6 months |
Common Stock, Compensation Pl89
Common Stock, Compensation Plans and Other - Summary of Currently Outstanding and Exercisable Options (Split Adjusted) (Detail) | 3 Months Ended |
Mar. 31, 2018$ / sharesshares | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |
Options Outstanding Shares | shares | 2,132,000 |
Options Exercisable Shares | shares | 933,000 |
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 | 14,000 |
Options Exercisable Shares | shares | 14,000 |
Options Outstanding Weighted- Average Remaining Contractual Life (in years) | 1 year 2 months 1 day |
Options outstanding Weighted- Average Exercise Price | $ 2.59 |
Options Exercisable Weighted- Average Exercise Price | 2.59 |
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 | 99,000 |
Options Exercisable Shares | shares | 99,000 |
Options Outstanding Weighted- Average Remaining Contractual Life (in years) | 3 years 4 months 24 days |
Options outstanding Weighted- Average Exercise Price | $ 6.45 |
Options Exercisable Weighted- Average Exercise Price | 6.45 |
Exercise Prices Range $8.62 to $9.54 [Member] | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |
Exercise Prices, Lower Range Limit | 8.62 |
Exercise Prices, Upper Range Limit | $ 9.54 |
Options Outstanding Shares | shares | 264,000 |
Options Exercisable Shares | shares | 232,000 |
Options Outstanding Weighted- Average Remaining Contractual Life (in years) | 4 years 11 months 1 day |
Options outstanding Weighted- Average Exercise Price | $ 9.05 |
Options Exercisable Weighted- Average Exercise Price | 8.98 |
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 | 154,000 |
Options Outstanding Weighted- Average Remaining Contractual Life (in years) | 6 years 6 months 3 days |
Options outstanding Weighted- Average Exercise Price | $ 16 |
Options Exercisable Weighted- Average Exercise Price | 15.98 |
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 | $ 17.40 |
Options Outstanding Shares | shares | 203,000 |
Options Exercisable Shares | shares | 94,000 |
Options Outstanding Weighted- Average Remaining Contractual Life (in years) | 6 years 7 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 | 1,010,000 |
Options Exercisable Shares | shares | 289,000 |
Options Outstanding Weighted- Average Remaining Contractual Life (in years) | 7 years 4 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 6 months 7 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 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 22 days |
Options outstanding Weighted- Average Exercise Price | $ 25.96 |
Options Exercisable Weighted- Average Exercise Price | $ 0 |
Common Stock, Compensation Pl90
Common Stock, Compensation Plans and Other - Summary of Company's Restricted Stock Issued and Outstanding (Detail) - USD ($) shares in Thousands, $ in Thousands | 3 Months Ended | 12 Months Ended |
Mar. 31, 2018 | Dec. 31, 2017 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ||
Beginning of year | 1,145 | 958 |
Issued | 162 | 232 |
Vested | (143) | (45) |
Forfeited | (15) | |
End of period | 1,149 | 1,145 |
Amount of expense for three months and twelve months ended, respectively | $ 1,601 | $ 5,237 |
Non-Interest Expense - Componen
Non-Interest Expense - Components of Non-Interest Expense (Detail) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | Dec. 31, 2017 | |
Noninterest Expense [Abstract] | |||
Salaries and employee benefits | $ 35,014 | $ 27,421 | |
Occupancy and equipment | 8,983 | 6,681 | |
Data processing expense | 3,986 | 2,723 | |
Other operating expenses: | |||
Advertising | 962 | 698 | |
Merger and acquisition expenses | 6,727 | ||
Amortization of intangibles | 1,625 | 804 | $ 3,403 |
Electronic banking expense | 1,878 | 1,519 | |
Directors' fees | 330 | 313 | |
Due from bank service charges | 219 | 420 | |
FDIC and state assessment | 1,608 | 1,288 | |
Insurance | 887 | 578 | |
Legal and accounting | 778 | 627 | |
Other professional fees | 1,639 | 1,153 | |
Operating supplies | 600 | 467 | |
Postage | 344 | 286 | |
Telephone | 373 | 324 | |
Other expense | 4,154 | 3,112 | |
Total other operating expenses | 15,397 | 18,316 | |
Total non-interest expense | $ 63,380 | $ 55,141 |
Significant Estimates and Con92
Significant Estimates and Concentrations of Credit Risks - Additional Information (Detail) | 3 Months Ended | 12 Months Ended |
Mar. 31, 2018 | Dec. 31, 2017 | |
Loans Receivable [Member] | Geographic Concentration [Member] | South Alabama, Arkansas, Florida and New York City [Member] | ||
Commitment And Contingencies [Line Items] | ||
Concentration percentage | 91.20% | |
Loans Receivable [Member] | Commercial Real Estate [Member] | Credit Concentration [Member] | ||
Commitment And Contingencies [Line Items] | ||
Concentration percentage | 61.80% | 61.80% |
Loans Receivable [Member] | Residential Real Estate [Member] | Credit Concentration [Member] | ||
Commitment And Contingencies [Line Items] | ||
Concentration percentage | 23.00% | 23.30% |
Total Stockholders' Equity [Member] | Commercial Real Estate [Member] | Credit Concentration [Member] | ||
Commitment And Contingencies [Line Items] | ||
Concentration percentage | 285.10% | 289.60% |
Total Stockholders' Equity [Member] | Residential Real Estate [Member] | Credit Concentration [Member] | ||
Commitment And Contingencies [Line Items] | ||
Concentration percentage | 106.30% | 109.40% |
Residential Real Estate Loans [Member] | Geographic Concentration [Member] | South Alabama, Arkansas, Florida and New York City [Member] | ||
Commitment And Contingencies [Line Items] | ||
Concentration percentage | 91.40% |
Commitments and Contingencies -
Commitments and Contingencies - Additional Information (Detail) - USD ($) | Mar. 31, 2018 | Dec. 31, 2017 |
Commitments and Contingencies Disclosure [Abstract] | ||
Commitments to extend credit outstanding | $ 2,140,000,000 | $ 2,380,000,000 |
Maximum amount of future payments by the company | $ 68,300,000 | $ 70,500,000 |
Regulatory Matters - Additional
Regulatory Matters - Additional Information (Detail) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | ||||
Mar. 31, 2018 | 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 | $ 30.3 | |||||
Dividend equal to percentage of banking subsidiary's earnings | 38.60% | |||||
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 | 15.56% | |||||
Common equity Tier 1 risk-based capital ratio | 6.50% | |||||
Tier 1 leverage capital ratio | 5.00% | |||||
Tier 1 risk-based capital ratio | 8.00% | |||||
Total risk-based capital ratio | 10.00% | |||||
Common equity Tier 1 risk-based capital ratio | 11.34% | |||||
Tier 1 leverage capital ratio | 10.21% | |||||
Tier 1 risk-based capital ratio | 11.96% | |||||
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% |
Additional Cash Flow Informat95
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 Informat96
Additional Cash Flow Information - Summary of Additional Cash Flow Information (Detail) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Additional Cash Flow Elements and Supplemental Cash Flow Information [Abstract] | ||
Interest paid | $ 19,296 | $ 2,209 |
Income taxes paid | 865 | |
Assets acquired by foreclosure | $ 4,253 | $ 2,041 |
Financial Instruments - Additio
Financial Instruments - Additional Information (Detail) - USD ($) | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | Dec. 31, 2017 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Carrying value of foreclosed assets held for sale | $ 0 | ||
Fair Value, Level 3 Inputs [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Material transfers between hierarchy levels | 0 | $ 0 | |
Fair value of loans with specific allocated losses | 79,300,000 | 72,500,000 | |
Accrued interest receivable reversed | 195,000 | $ 165,000 | |
Fair value of foreclosed assets held for sale | $ 20,100,000 | $ 18,900,000 | |
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 | Mar. 31, 2018 | Dec. 31, 2017 |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Federal funds sold | $ 1,825 | $ 24,109 |
Investment securities - held-to-maturity | 213,731 | 224,756 |
Carrying Amount [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Cash and cash equivalents | 510,601 | 635,933 |
Federal funds sold | 1,825 | 24,109 |
Accrued interest receivable | 45,361 | 45,708 |
Demand and non-interest bearing | 2,473,602 | 2,385,252 |
Savings and interest-bearing transaction accounts | 6,437,408 | 6,476,819 |
Securities sold under agreements to repurchase | 150,315 | 147,789 |
Accrued interest payable | 11,054 | 5,583 |
Carrying Amount [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investment securities - held-to-maturity | 213,731 | 224,756 |
FHLB and other borrowed funds | 1,115,061 | 1,299,188 |
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 | 10,136,175 | 10,148,470 |
Time deposits | 1,485,605 | 1,526,431 |
Subordinated debentures | 368,212 | 368,031 |
Fair Value [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Cash and cash equivalents | 510,601 | 635,933 |
Federal funds sold | 1,825 | 24,109 |
Accrued interest receivable | 45,361 | 45,708 |
Demand and non-interest bearing | 2,473,602 | 2,385,252 |
Savings and interest-bearing transaction accounts | 6,437,408 | 6,476,819 |
Securities sold under agreements to repurchase | 150,315 | 147,789 |
Accrued interest payable | 11,054 | 5,583 |
Fair Value [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investment securities - held-to-maturity | 214,132 | 227,539 |
FHLB and other borrowed funds | 1,110,809 | 1,299,961 |
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 | 9,932,701 | 10,055,901 |
Time deposits | 1,474,065 | 1,514,670 |
Subordinated debentures | $ 379,471 | $ 379,146 |
Recent Accounting Pronounceme99
Recent Accounting Pronouncements - Additional Information (Detail) - USD ($) | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | Dec. 31, 2017 | |
New Accounting Pronouncements and Changes in Accounting Principles [Abstract] | |||
Federal income tax rate | 21.00% | 35.00% | 35.00% |
Stranded tax effects within other comprehensive income | $ 604,000 | ||
Cumulative-effect adjustment to retained earnings | $ 990,000 |