Document And Entity Information
Document And Entity Information - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Feb. 21, 2018 | Jun. 30, 2017 | |
Document Information [Line Items] | |||
Entity Registrant Name | ServisFirst Bancshares, Inc. | ||
Entity Central Index Key | 1,430,723 | ||
Trading Symbol | sfbs | ||
Current Fiscal Year End Date | --12-31 | ||
Entity Filer Category | Large Accelerated Filer | ||
Entity Current Reporting Status | Yes | ||
Entity Voluntary Filers | No | ||
Entity Well-known Seasoned Issuer | Yes | ||
Entity Common Stock, Shares Outstanding (in shares) | 53,082,445 | ||
Entity Public Float | $ 1,648,680 | ||
Document Type | 10-K | ||
Document Period End Date | Dec. 31, 2017 | ||
Document Fiscal Year Focus | 2,017 | ||
Document Fiscal Period Focus | FY | ||
Amendment Flag | false |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
ASSETS | ||
Cash and due from banks | $ 86,213 | $ 56,855 |
Interest-bearing balances due from depository institutions | 151,849 | 566,707 |
Federal funds sold | 239,524 | 160,435 |
Cash and cash equivalents | 477,586 | 783,997 |
Available for sale debt securities, at fair value | 538,080 | 422,375 |
Held to maturity debt securities (fair value of $250 and $63,302 at December 31, 2017 and December 31, 2016, respectively) | 250 | 62,564 |
Equity securities | 1,034 | 1,024 |
Mortgage loans held for sale | 4,459 | 4,675 |
Loans | 5,851,261 | 4,911,770 |
Less allowance for loan losses | (59,406) | (51,893) |
Loans, net | 5,791,855 | 4,859,877 |
Premises and equipment, net | 58,900 | 40,314 |
Accrued interest and dividends receivable | 20,661 | 15,801 |
Deferred tax asset, net | 13,022 | 27,132 |
Other real estate owned and repossessed assets | 6,701 | 4,988 |
Bank owned life insurance contracts | 127,519 | 114,388 |
Goodwill and other identifiable intangible assets | 14,719 | 14,996 |
Other assets | 27,598 | 18,317 |
Total assets | 7,082,384 | 6,370,448 |
Deposits: | ||
Non-interest-bearing demand | 1,440,326 | 1,281,605 |
Interest-bearing | 4,651,348 | 4,138,706 |
Total deposits | 6,091,674 | 5,420,311 |
Federal funds purchased | 301,797 | 355,944 |
Other borrowings | 64,832 | 55,262 |
Accrued interest and dividends payable | 4,971 | 4,401 |
Other liabilities | 11,506 | 11,641 |
Total liabilities | 6,474,780 | 5,847,559 |
Stockholders' equity: | ||
Common stock, par value $0.001 per share; 100,000,000 shares authorized; 52,992,586 shares issued and outstanding at December 31, 2017, and 52,636,896 shares issued and outstanding at December 31, 2016 | 53 | 53 |
Additional paid-in capital | 217,693 | 215,932 |
Retained earnings | 389,554 | 307,151 |
Accumulated other comprehensive loss | (198) | (624) |
Total stockholders' equity attributable to ServisFirst Bancshares, Inc. | 607,102 | 522,512 |
Noncontrolling interest | 502 | 377 |
Total stockholders' equity | 607,604 | 522,889 |
Total liabilities and stockholders' equity | 7,082,384 | 6,370,448 |
Series A Preferred Stock [Member] | ||
Stockholders' equity: | ||
Preferred stock, Series A Senior Non-Cumulative Perpetual, par value $0.001 (liquidation preference $1,000), net of discount; no shares authorized or outstanding at December 31, 2017 and December 31, 2016 | ||
Undesignated Preferred Stock [Member] | ||
Stockholders' equity: | ||
Preferred stock, Series A Senior Non-Cumulative Perpetual, par value $0.001 (liquidation preference $1,000), net of discount; no shares authorized or outstanding at December 31, 2017 and December 31, 2016 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parentheticals) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Held to maturity debt securities, fair value | $ 250 | $ 63,302 |
Common stock, par value (in dollars per share) | $ 0.001 | $ 0.001 |
Common stock, authorized (in shares) | 100,000,000 | 100,000,000 |
Common stock, issued (in shares) | 52,992,586 | 52,636,896 |
Common stock, outstanding (in shares) | 52,992,586 | 52,636,896 |
Series A Preferred Stock [Member] | ||
Preferred stock, par value (in dollars per share) | $ 0.001 | $ 0.001 |
Preferred stock, liquidation preference, value | $ 1,000 | $ 1,000 |
Preferred stock, shares authorized (in shares) | 0 | 0 |
Preferred stock, shares outstanding (in shares) | 0 | 0 |
Undesignated Preferred Stock [Member] | ||
Preferred stock, par value (in dollars per share) | $ 0.001 | $ 0.001 |
Preferred stock, shares authorized (in shares) | 1,000,000 | 1,000,000 |
Preferred stock, undesignated (in shares) | 1,000,000 | 1,000,000 |
Consolidated Statements of Inco
Consolidated Statements of Income - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Income: | |||
Interest and fees on loans | $ 246,682 | $ 200,463 | $ 171,302 |
Taxable securities | 9,117 | 5,343 | 4,331 |
Nontaxable securities | 2,948 | 3,300 | 3,499 |
Federal funds sold | 1,693 | 1,007 | 127 |
Other interest and dividends | 2,316 | 2,789 | 716 |
Total interest income | 262,756 | 212,902 | 179,975 |
Interest expense: | |||
Deposits | 28,831 | 20,169 | 14,894 |
Borrowed funds | 6,502 | 5,636 | 2,810 |
Total interest expense | 35,333 | 25,805 | 17,704 |
Net interest income | 227,423 | 187,097 | 162,271 |
Provision for loan losses | 23,225 | 13,398 | 12,847 |
Net interest income after provision for loan losses | 204,198 | 173,699 | 149,424 |
Noninterest income: | |||
Service charges on deposit accounts | 5,702 | 5,355 | 5,088 |
Mortgage banking | 3,835 | 3,725 | 2,682 |
Credit card income | 4,815 | 3,207 | 2,073 |
Securities (losses) gains | (3) | 29 | |
Increase in cash surrender value life insurance | 3,131 | 2,794 | 2,621 |
Other operating income | 1,563 | 3,034 | 1,084 |
Total noninterest income | 19,046 | 18,112 | 13,577 |
Noninterest expenses: | |||
Salaries and employee benefits | 47,604 | 43,955 | 38,913 |
Equipment and occupancy expense | 8,018 | 7,985 | 6,389 |
Professional services | 3,217 | 3,977 | 2,607 |
FDIC and other regulatory assessments | 3,918 | 3,400 | 2,660 |
Other real estate owned expense | 323 | 759 | 1,227 |
Merger expense | 2,100 | ||
Other operating expenses | 22,814 | 20,917 | 20,100 |
Total noninterest expenses | 85,894 | 80,993 | 73,996 |
Income before income taxes | 137,350 | 110,818 | 89,005 |
Provision for income taxes | 44,258 | 29,339 | 25,465 |
Net income | 93,092 | 81,479 | 63,540 |
Dividends on preferred stock | 62 | 47 | 280 |
Net income available to common stockholders | $ 93,030 | $ 81,432 | $ 63,260 |
Basic earnings per common share (in dollars per share) | $ 1.76 | $ 1.55 | $ 1.23 |
Diluted earnings per common share (in dollars per share) | $ 1.72 | $ 1.52 | $ 1.20 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Net income | $ 93,092 | $ 81,479 | $ 63,540 |
Other comprehensive (loss) income, net of tax: | |||
Unrealized holding losses arising during period from securities available for sale, net of tax of $(362), $(1,980) and $(767) for 2017, 2016 and 2015, respectively | (674) | (3,674) | (1,423) |
Reduction in unrealized loss related to held to maturity debt securities transferred to available for sale, net of tax of $592 | 1,100 | ||
Reclassification adjustment for net losses (gains) on sale of securities, net of tax of $(1) and $10 for 2016 and 2015, respectively | 2 | (19) | |
Other comprehensive income (loss), net of tax | 383 | (3,672) | (1,442) |
Comprehensive income | $ 93,518 | $ 77,807 | $ 62,098 |
Consolidated Statements of Com6
Consolidated Statements of Comprehensive Income (Parentheticals) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Unrealized holding gain (loss) from available for sale securities, tax | $ (362) | $ (1,980) | $ (767) |
Reduction in unrealized loss related to held to maturity debt securities transferred to available for sale, tax | 592 | ||
Reclassification adjustment for net gain (loss) on sale of securities, tax | $ (1) | $ 10 |
Consolidated Statement of Stock
Consolidated Statement of Stockholders' Equity - USD ($) $ in Thousands | Dividend Paid [Member]Retained Earnings [Member] | Dividend Paid [Member] | Dividend Declared [Member]Retained Earnings [Member] | Dividend Declared [Member] | Preferred Stock [Member] | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | AOCI Attributable to Parent [Member] | Noncontrolling Interest [Member] | Total |
Balance at Dec. 31, 2014 | $ 39,958 | $ 25 | $ 185,397 | $ 177,091 | $ 4,490 | $ 252 | $ 407,213 | ||||
Common dividends | $ (4,643) | $ (4,643) | $ (1,558) | $ (1,558) | |||||||
Preferred dividends paid | (280) | (280) | |||||||||
Issue 1,273,184 shares of common stock as consideration for Metro Bancshares, Inc. acquisition | 1 | 19,355 | 19,356 | ||||||||
Capitalized costs to issue shelf registration | (73) | (73) | |||||||||
Issue shares of common stock upon exercise of stock options | 3,801 | 3,801 | |||||||||
Issue shares of REIT preferred stock | 1,843 | 125 | 1,968 | ||||||||
Redeem 40,000 shares of preferred stock issued to the Department of the Treasury under TARP | $ (39,958) | (42) | (40,000) | ||||||||
Stock based compensation expense | 1,265 | 1,265 | |||||||||
Other comprehensive income, net of tax | (1,442) | (1,442) | |||||||||
Net income | 63,540 | 63,540 | |||||||||
Balance at Dec. 31, 2015 | 26 | 211,546 | 234,150 | 3,048 | 377 | 449,147 | |||||
Common dividends | (6,299) | (6,299) | (2,105) | (2,105) | |||||||
Preferred dividends paid | (47) | (47) | |||||||||
Issue shares of common stock upon exercise of stock options | 3,188 | 3,188 | |||||||||
Stock based compensation expense | 1,198 | 1,198 | |||||||||
Other comprehensive income, net of tax | (3,672) | (3,672) | |||||||||
Net income | 81,479 | 81,479 | |||||||||
Common stock split, in the form of a stock dividend | 27 | (27) | |||||||||
Balance at Dec. 31, 2016 | 53 | 215,932 | 307,151 | (624) | 377 | 522,889 | |||||
Common dividends | $ (7,935) | $ (7,935) | $ (2,649) | $ (2,649) | |||||||
Preferred dividends paid | (62) | (62) | |||||||||
Issue shares of common stock upon exercise of stock options | 1,911 | 1,911 | |||||||||
Issue shares of REIT preferred stock | 125 | 125 | |||||||||
Stock based compensation expense | 1,170 | 1,170 | |||||||||
Other comprehensive income, net of tax | 383 | 383 | |||||||||
Net income | 93,092 | 93,092 | |||||||||
35,010 Shares withheld in net settlement upon exercise of stock options | (1,320) | (1,320) | |||||||||
Reclassification of the disproportionate tax effect of enactment of the Tax Cuts and Jobs Act of 2017 | (43) | 43 | |||||||||
Balance at Dec. 31, 2017 | $ 53 | $ 217,693 | $ 389,554 | $ (198) | $ 502 | $ 607,604 |
Consolidated Statement of Stoc8
Consolidated Statement of Stockholders' Equity (Parentheticals) | 12 Months Ended | ||
Dec. 31, 2017$ / sharesshares | Dec. 31, 2016$ / sharesshares | Dec. 31, 2015$ / sharesshares | |
Dividend Paid [Member] | |||
Common dividends, per share paid (in dollars per share) | $ / shares | $ 0.15 | $ 0.12 | $ 0.09 |
Dividend Declared [Member] | |||
Common dividends, per share declared (in dollars per share) | $ / shares | $ 0.05 | $ 0.04 | $ 0.03 |
Noncontrolling Interest [Member] | |||
Issue shares of REIT preferred (in shares) | 125 | 125 | |
Preferred Stock [Member] | |||
Stock redeemed or called (in shares) | 40,000 | ||
Additional Paid-in Capital [Member] | |||
Issuance of common stock, shares (in shares) | 385,500 | 682,500 | |
Shares withheld in net settlement upon exercise of stock options (in shares) | 35,010 | ||
Stock issued during period, acquisitions (in shares) | 1,273,184 | ||
Issuance of common stock, shares (in shares) | 1,051,000 | ||
Stockholders' equity note, stock split | 2 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Operating activities | |||
Net income | $ 93,092,000 | $ 81,479,000 | $ 63,540,000 |
Adjustments to reconcile net income to net cash provided by | |||
Deferred tax expense (benefit) | 14,048,000 | (1,728,000) | (4,876,000) |
Provision for loan losses | 23,225,000 | 13,398,000 | 12,847,000 |
Depreciation | 2,568,000 | 2,724,000 | 2,219,000 |
Accretion on acquired loans | (464,000) | (980,000) | (1,954,000) |
Amortization of core deposit intangible | 277,000 | 334,000 | 376,000 |
Net amortization of debt securities available for sale | 4,019,000 | 4,197,000 | 4,713,000 |
Increase in accrued interest and dividends receivable | (4,860,000) | (2,103,000) | (2,000,000) |
Stock-based compensation expense | 1,170,000 | 1,198,000 | 1,265,000 |
Increase in accrued interest payable | 570,000 | 2,032,000 | 340,000 |
Proceeds from sale of mortgage loans held for sale | 136,259,000 | 130,131,000 | 137,020,000 |
Originations of mortgage loans held for sale | (132,208,000) | (122,832,000) | (136,603,000) |
Loss (gain) on sale of debt securities available for sale | 3,000 | (29,000) | |
Gain on sale of mortgage loans held for sale | (3,835,000) | (3,725,000) | (2,682,000) |
Net (gain) loss on sale of other real estate owned and repossessed assets | (33,000) | (18,000) | 136,000 |
Write down of other real estate owned and repossessed assets | 23,000 | 603,000 | 643,000 |
Operating losses of tax credit partnerships | 79,000 | 202,000 | 152,000 |
Increase in cash surrender value of life insurance contracts | (3,131,000) | (2,794,000) | (2,621,000) |
Net change in other assets, liabilities, and other operating activities | (12,335,000) | (3,600,000) | 3,781,000 |
Net cash provided by operating activities | 118,464,000 | 98,521,000 | 76,267,000 |
Investing activities | |||
Purchase of debt securities available for sale | (83,004,000) | (157,483,000) | (81,781,000) |
Proceeds from maturities, calls and paydowns of debt securities available for sale | 84,637,000 | 65,347,000 | 46,271,000 |
Proceeds from sale of debt securities available for sale | 3,500,000 | 6,085,000 | 16,738,000 |
Purchase of debt securities held to maturity | (66,002,000) | (38,139,000) | (202,000) |
Proceeds from maturities, calls and paydowns of debt securities held to maturity | 6,227,000 | 3,001,000 | 2,131,000 |
Purchase of equity securities | (10,000) | (708,000) | (534,000) |
Proceeds from sale of equity securities | 4,628,000 | ||
Increase in loans | (957,975,000) | (700,857,000) | (710,917,000) |
Purchase of premises and equipment | (21,154,000) | (22,205,000) | (5,537,000) |
Purchase of bank-owned life insurance contracts | (10,000,000) | (20,000,000) | |
Expenditures to complete construction of other real estate owned | (3,000) | (118,000) | |
Proceeds from sale of other real estate owned and repossessed assets | 1,533,000 | 1,340,000 | 3,428,000 |
Investment in tax credit partnerships | (2,655,000) | (6,576,000) | |
Net cash paid in acquisition of Metro Bancshares, Inc. | (12,383,000) | ||
Net cash used in investing activities | (1,042,248,000) | (861,649,000) | (749,480,000) |
Financing activities | |||
Net increase in non-interest-bearing deposits | 158,721,000 | 228,138,000 | 195,729,000 |
Net increase in interest-bearing deposits | 512,642,000 | 968,285,000 | 454,245,000 |
Net (decrease) increase in federal funds purchased | (54,147,000) | 3,584,000 | 85,870,000 |
Proceeds from issuance of 5% subordinated notes due July 15, 2025 | 34,750,000 | ||
Redemption of Series A Senior Non-Cumulative preferred stock | (40,000,000) | ||
Proceeds from issuance of 4.5% subordinated notes due November 8, 2027, net of issuance cost | 29,943,000 | ||
Repayment of 5.5% subordinated notes due November 9, 2022 | (20,000,000) | ||
Repayment of Federal Home Loan Bank advances | (400,000) | (400,000) | (300,000) |
Proceeds from sale of preferred stock, net | 125,000 | 125,000 | |
Proceeds from exercise of stock options | 1,911,000 | 3,188,000 | 3,801,000 |
Taxes paid in net settlement upon exercise of stock options | (1,320,000) | ||
Capitalized cost of shelf registration | (73,000) | ||
Dividends paid on common stock | (10,040,000) | (7,858,000) | (5,883,000) |
Dividends paid on preferred stock | (62,000) | (47,000) | (280,000) |
Net cash provided by financing activities | 617,373,000 | 1,194,890,000 | 727,984,000 |
Net (decrease) increase in cash and cash equivalents | (306,411,000) | 431,762,000 | 54,771,000 |
Cash and cash equivalents at beginning of year | 783,997,000 | 352,235,000 | 297,464,000 |
Cash and cash equivalents at end of year | 477,586,000 | 783,997,000 | 352,235,000 |
Cash paid for: | |||
Interest | 34,763,000 | 23,773,000 | 17,275,000 |
Income taxes | 42,586,000 | 30,268,000 | 27,113,000 |
Income tax refund | (492,000) | (929,000) | (50,000) |
NONCASH TRANSACTIONS | |||
Other real estate acquired in settlement of loans | 4,685,000 | 4,112,000 | 2,092,000 |
Internally financed sales of other real estate owned | 1,449,000 | 2,592,000 | 1,799,000 |
Dividends declared | 2,649,000 | 2,105,000 | 1,558,000 |
Fair value of assets and liabilities from acquisition: | |||
Fair value of tangible assets acquired | 204,985,000 | ||
Intangible assets acquired | 15,707,000 | ||
Fair value of liabilities assumed | (180,410,000) | ||
Net identifiable assets acquired over liabilities assumed | $ 40,282,000 |
Consolidated Statements of Ca10
Consolidated Statements of Cash Flows (Parentheticals) | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 |
Subordinated Notes Due July 15, 2025 [Member] | |||
Debt instrument, interest rate | 5.00% | 5.00% | 5.00% |
Subordinates Note Due November 8, 2027 [Member] | |||
Debt instrument, interest rate | 4.50% | 4.50% | 4.50% |
Subordinated Notes Due November 9, 2022 [Member] | |||
Debt instrument, interest rate | 5.50% | 5.50% | 5.50% |
Note 1 - Summary of Significant
Note 1 - Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | NOTE 1. Nature of Operations ServisFirst Bancshares, Inc. (the “Company”) was formed on August 16, 2007 May 2005. 1, 1, 11. Basis of Presentation and Accounting Estimates To prepare consolidated financial statements in conformity with U.S. generally accepted accounting principles, management makes estimates and assumptions based on available information. These estimates and assumptions affect the amounts reported in the financial statements and the disclosures provided, and future results could differ. The allowance for loan losses, valuation of foreclosed real estate, goodwill and other intangible assets and fair values of financial instruments are particularly subject to change. All numbers are in thousands except share and per share data. Cash, Due from Banks, Interest-Bearing Balances due from Financial Institutions Cash and due from banks includes cash on hand, cash items in process of collection, amounts due from banks and interest bearing balances due from financial institutions. For purposes of cash flows, cash and cash equivalents include cash and due from banks and federal funds sold. Generally, federal funds are purchased and sold for one The Bank is required to maintain reserve balances in cash or on deposit with the Federal Reserve Bank based on a percentage of deposits. The total of those reserve balances was approximately $51.8 December 31, 2017 $39.2 December 31, 2016. Debt Securities Securities are classified as available-for-sale when they might be sold before maturity. Unrealized holding gains and losses, net of tax, on securities available for sale are reported as a net amount in a separate component of stockholders’ equity until realized. Gains and losses on the sale of securities available for sale are determined using the specific-identification method. The amortization of premiums and the accretion of discounts are recognized in interest income using methods approximating the interest method over the period to maturity. Declines in the fair value of available-for-sale securities below their cost that are deemed to be other than temporary are reflected in earnings as realized losses. Securities are classified as held-to-maturity when the Company has the positive intent and ability to hold the securities to maturity. Held-to-maturity securities are reported at amortized cost. In determining the existence of other-than-temporary impairment losses, management considers ( 1 2 3 Investments in Equity Securities Carried at Cost Investments in restricted equity securities without a readily determinable market value are carried at cost. Mortgage Loans Held for Sale The Company classifies certain residential mortgage loans as held for sale. Typically mortgage loans held for sale are sold to a third not In the course of originating mortgage loans and selling those loans in the secondary market, the Company makes various representations and warranties to the purchaser of the mortgage loans. Each loan is underwritten using government agency guidelines. Any exceptions noted during this process are remedied prior to sale. These representations and warranties also apply to underwriting the real estate appraisal opinion of value for the collateral securing these loans. Under the representations and warranties, failure by the Company to comply with the underwriting and/or appraisal standards could result in the Company being required to repurchase the mortgage loan or to reimburse the investor for losses incurred (make whole requests) if such failure cannot be cured by the Company within the specified period following discovery. The Company continues to experience an insignificant level of investor repurchase demands. There were no December 31, 2017 2016. Loans Loans are reported at unpaid principal balances, less unearned fees and the allowance for loan losses. Interest on all loans is recognized as income based upon the applicable rate applied to the daily outstanding principal balance of the loans. Interest income on nonaccrual loans is recognized on a cash basis or cost recovery basis until the loan is returned to accrual status. A loan may six not one The accrual of interest on loans is discontinued when there is a significant deterioration in the financial condition of the borrower and full repayment of principal and interest is not 90 not A loan is considered impaired when it is probable the Company will be unable to collect all principal and interest payments due according to the contractual terms of the loan agreement. Individually identified impaired loans are measured based on the present value of expected payments using the loan’s original effective rate as the discount rate, the loan’s observable market price, or the fair value of the collateral if the loan is collateral dependent. If the recorded investment in the impaired loan exceeds the measure of fair value, a valuation allowance may Impaired loans also include troubled debt restructurings (“TDRs”). In the normal course of business management grants concessions to borrowers, which would not may six Acquired loans are recorded at fair value at the date of acquisition, and accordingly no 1 not Subsequent decreases to the expected cash flows will generally result in a provision for loan losses. Subsequent significant increases in cash flows result in a reversal of the provision for loan losses to the extent of prior provisions or a reclassification of amount from non-accretable difference to accretable yield, with a positive impact on the accretion of interest income in future periods. Acquired performing loans are accounted for using the contractual cash flows method of recognizing discount accretion based on the acquired loans’ contractual cash flows. Acquired performing loans are recorded as of the acquisition date at fair value, considering credit and other risks, with no 1 Allowance for Loan Losses The allowance for loan losses is maintained at a level which, in management’s judgment, is adequate to absorb credit losses inherent in the loan portfolio. The amount of the allowance is based on management’s evaluation of the collectability of the loan portfolio, including the nature of the portfolio, credit concentrations, trends in historical loss experience, specific impaired loans, economic conditions, and other risks inherent in the portfolio. Allowances for impaired loans are generally determined based on collateral values or the present value of the estimated cash flows. The allowance is increased by a provision for loan losses, which is charged to expense, and reduced by charge-offs, net of recoveries. In addition, various regulatory agencies, as an integral part of their examination process, periodically review the allowance for losses on loans. Such agencies may Foreclosed Real Estate Foreclosed real estate includes both formally foreclosed property and in-substance foreclosed property. At the time of foreclosure, foreclosed real estate is recorded at fair value less cost to sell, which becomes the property’s new basis. Any write downs based on the asset’s fair value at date of acquisition are charged to the allowance for loan losses. After foreclosure, these assets are carried at the lower of their new cost basis or fair value less cost to sell. Costs incurred in maintaining foreclosed real estate and subsequent adjustments to the carrying amount of the property are included in other operating expenses. Premises and Equipment Premises and equipment are stated at cost less accumulated depreciation. Expenditures for additions and major improvements that significantly extend the useful lives of the assets are capitalized. Expenditures for repairs and maintenance are charged to expense as incurred. Assets which are disposed of are removed from the accounts and the resulting gains or losses are recorded in operations. Depreciation is calculated on a straight-line basis over the estimated useful lives of the related assets ( 3 39.5 Leasehold improvements are amortized on a straight-line basis over the lesser of the lease terms or the estimated useful lives of the improvements. Goodwill and Other Identifiable Intangible Assets Other identifiable intangible assets include a core deposit intangible recorded in connection with the acquisition of Metro Bancshares, Inc. The core deposit intangible is being amortized over 7 The Company has recorded $13.6 December 31, 2017 not one Derivatives and Hedging Activities As part of its overall interest rate risk management, the Company uses derivative instruments, which can include interest rate swaps, caps, and floors. Financial Accounting Standards Board (“FASB”) ASC 815 10, The Company designates the derivative on the date the derivative contract is entered into as ( 1 2 The Company formally documents all relationships between hedging instruments and hedged items, as well as its risk-management objective and strategy for undertaking various hedge transactions. This process includes linking all derivatives that are designated as fair-value or cash-flow hedges to specific assets and liabilities on the balance sheet or to specific firm commitments or forecasted transactions. The Company also formally assessed, both at the hedge’s inception and on an ongoing basis (if the hedges do not not 1 no 2 3 4 no 5 no When hedge accounting is discontinued because it is determined that the derivative no no The Company uses derivatives to hedge interest rate exposures associated with mortgage loans held for sale and mortgage loans in process. The Company regularly enters into derivative financial instruments in the form of forward contracts, as part of its normal asset/liability management strategies. The Company’s obligations under forward contracts consist of “best effort” commitments to deliver mortgage loans originated in the secondary market at a future date. Interest rate lock commitments related to loans that are originated for later sale are classified as derivatives. In the normal course of business, the Company regularly extends these rate lock commitments to customers during the loan origination process. The fair values of the Company’s forward contract and rate lock commitments to customers as of December 31, 2017 2016 not not Income Taxes Income tax expense is the total of the current year income tax due or refundable and the change in deferred tax assets and liabilities. Deferred tax assets and liabilities are the expected future tax amounts for the temporary differences between carrying amounts and tax bases of assets and liabilities, computed using enacted tax rates. A valuation allowance, if needed, reduces deferred tax assets to the amount expected to be realized. ; The Company follows the provisions of ASC 740 10, Income Taxes. 740 10 740 10 740 10 740 10 two first not second not 50% Stock-Based Compensation At December 31, 2017, two 718 10, 505 50, Earnings per Common Share Basic earnings per common share are computed by dividing net income available to common stockholders by the weighted average number of common shares outstanding during the period. Diluted earnings per common share include the dilutive effect of additional potential common shares issuable under stock options and warrants. Loan Commitments and Related Financial Instruments Financial instruments, which include credit card arrangements, commitments to make loans and standby letters of credit, are issued to meet customer financing needs. The face amount for these items represents the exposure to loss before considering customer collateral or ability to repay. Such financial instruments are recorded when they are funded. Instruments such as stand-by letters of credit are considered financial guarantees in accordance with FASB ASC 460 10. not Fair Value of Financial Instruments Fair values of financial instruments are estimated using relevant market information and other assumptions, as more fully disclosed in Note 23. Comprehensive Income Comprehensive income consists of net income and other comprehensive income. Accumulated comprehensive income, which is recognized as a separate component of equity, includes unrealized gains and losses on securities available for sale. Advertising Advertising costs are expensed as incurred. Advertising expense for the years ended December 31, 2017, 2016 2015 $716,000, $544,000 $562,000, Recently Adopted Accounting Pronouncements In February 2015, No. 2015 02, Consolidation (Topic 810 1 2 3 4 2a 7 1940 No. 2015 02 December 15, 2015. not In March 2016, 2016 09, Compensation – Stock Compensation (Topic 718 2016 09” 2016 09 December 15, 2016, second 2016, first 2016. 2017 2016 $4.6 $4.8 2016 09, In March 2016, 2016 07 , Investments – Equity Method and Joint Ventures (Topic 323 December 15, 2016. not In January 2017, 2017 03, Accounting Changes and Error Corrections 250 Investments – Equity Method and Joint Ventures 323 – Amendments to SEC Paragraphs Pursuant to Staff Announcements at the September 22, 2016 November 17, 2016 2017 03 250 10 S99 6 11.M In February 2018, 2018 02, Income Statement - Reporting Comprehensive Income 220 Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income 2017. December 15, 2018 December 31, 2017. $43,000 21% Recent Accounting Pronouncements In May 2014, No. 2014 09, Revenue From Contracts With Customers 606 605, 606, August 2015, 2015 14, Revenue From Contracts With Customers (Topic 606 2014 09, Revenue From Contracts With Customers (Topic 606 one December 15, 2017. not not January 1, 2018 not In January 2016, 2016 01, Financial Instruments Overall (Topic 825 2016 1: January 1, 2018 not In February 2016, 2016 02, Leases (Topic 842 December 15, 2018. January 2018, not 2016 02 In June 2016, 2016 13, Financial Instruments-Credit Losses (Topic 326 December 15, 2019, December 15, 2018. In March 2017, 2017 08, Receivables – Nonrefundable Fees and Other Costs (Subtopic 310 20 not December 15, 2018. not first In May 2017, No. 2017 09, Compensation - Stock Compensation (Topic 718 Scope of Modification Accounting 718. December 15, 2017. no no |
Note 2 - Acquisition
Note 2 - Acquisition | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Business Combination Disclosure [Text Block] | NOTE 2 On January 31, 2015, $20.9 1,273,184 two The estimated fair value of the purchased credit impaired loans acquired in the Metro transaction on January 31, 2015 $5.1 Pro forma financial information is not |
Note 3 - Debt Securities
Note 3 - Debt Securities | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | NOTE 3. The amortized cost and fair values of available-for-sale and held-to-maturity debt securities at December 31, 2017 2016 Gross Gross Amortized Unrealized Unrealized Market Cost Gain Loss Value December 31, 2017 (In Thousands) Securities Available for Sale U.S. Treasury and government sponsored agencies $ 55,567 $ 38 $ (249 ) $ 55,356 Mortgage-backed securities 278,177 1,006 (2,685 ) 276,498 State and municipal securities 134,641 761 (553 ) 134,849 Corporate debt 69,996 1,416 (35 ) 71,377 Total $ 538,381 $ 3,221 $ (3,522 ) $ 538,080 Securities Held to Maturity State and municipal securities 250 - - 250 Total $ 250 $ - $ - $ 250 December 31, 2016 Securities Available for Sale U.S. Treasury and government sponsored agencies $ 45,998 $ 382 $ (126 ) $ 46,254 Mortgage-backed securities 228,843 1,515 (3,168 ) 227,190 State and municipal securities 139,504 1,120 (694 ) 139,930 Corporate debt 8,985 16 - 9,001 Total $ 423,330 $ 3,033 $ (3,988 ) $ 422,375 Securities Held to Maturity Mortgage-backed securities 19,164 321 (245 ) 19,240 State and municipal securities 5,888 315 (12 ) 6,191 Corporate debt 37,512 374 (15 ) 37,871 Total $ 62,564 $ 1,010 $ (272 ) $ 63,302 All mortgage-backed debt securities are with government sponsored enterprises (GSEs) such as Federal National Mortgage Association, Government National Mortgage Association, Federal Home Loan Bank, and Federal Home Loan Mortgage Corporation. At year-end 2017 2016, no 10% In the fourth 2017, two The amortized cost and fair value of debt securities as of December 31, 2017 2016 may may December 31, 2017 December 31, 2016 Amortized Cost Market Value Amortized Cost Market Value (In Thousands) Debt securities available for sale Due within one year $ 22,122 $ 22,172 $ 28,270 $ 28,400 Due from one to five years 160,773 160,563 152,347 153,003 Due from five to ten years 73,362 74,684 13,870 13,782 Due after ten years 3,947 4,163 - - Mortgage-backed securities 278,177 276,498 228,843 227,190 $ 538,381 $ 538,080 $ 423,330 $ 422,375 Debt securities held to maturity Due from one to five years $ 250 $ 250 $ 250 $ 250 Due from five to ten years - - 34,251 34,617 Due after ten years - - 8,899 9,195 Mortgage-backed securities - - 19,164 19,240 $ 250 $ 250 $ 62,564 $ 63,302 The following table shows the gross unrealized losses and fair value of debt securities, aggregated by category and length of time that securities have been in a continuous unrealized loss position at December 31, 2017 2016. not not not not may not December 31, 2017. no December 31, 2017, 2016 2015. Less Than Twelve Months Twelve Months or More Total Gross Gross Gross Unrealized Unrealized Unrealized Losses Fair Value Losses Fair Value Losses Fair Value (In Thousands) December 31, 2017 U.S. Treasury and government sponsored agencies $ (151 ) $ 33,401 $ (98 ) $ 2,926 $ (249 ) $ 36,327 Mortgage-backed securities (986 ) 140,432 (1,699 ) 75,903 (2,685 ) 216,335 State and municipal securities (450 ) 66,637 (103 ) 6,648 (553 ) 73,285 Corporate debt (35 ) 6,955 - - (35 ) 6,955 Total $ (1,622 ) $ 247,425 $ (1,900 ) $ 85,477 $ (3,522 ) $ 332,902 December 31, 2016 U.S. Treasury and government sponsored agencies $ (126 ) $ 10,865 $ - $ - $ (126 ) $ 10,865 Mortgage-backed securities (3,413 ) 174,225 - - (3,413 ) 174,225 State and municipal securities (698 ) 64,502 (8 ) 1,021 (706 ) 65,523 Corporate debt (15 ) 3,034 - - (15 ) 3,034 Total $ (4,252 ) $ 252,626 $ (8 ) $ 1,021 $ (4,260 ) $ 253,647 At December 31, 2017, 72 796 12 The following table summarizes information about sales of debt securities available for sale. Years Ended December 31, 2017 2016 2015 (In Thousands) Sale proceeds $ - $ 6,085 $ 16,738 Gross realized gains $ - $ 4 $ 29 Gross realized losses - (7 ) - Net realized gain (loss) $ - $ (3 ) $ 29 The carrying value of debt securities pledged to secure public funds on deposits and for other purposes as required by law as of December 31, 2017 2016 $284.2 $246.0 Equity securities include ( 1 2 3 4 $30,000 December 31, 2017 2016. November 11, 2016. $400,000 December 31, 2017 2016. $500,000 December 31, 2017 2016. $100,000 December 31, 2017 2016. |
Note 4 - Loans
Note 4 - Loans | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | NOTE 4. The composition of loans at December 31, 2017 2016 December 31, 2017 2016 (In Thousands) Commercial, financial and agricultural $ 2,279,366 $ 1,982,267 Real estate - construction 580,874 335,085 Real estate - mortgage: Owner-occupied commercial 1,328,666 1,171,719 1-4 family mortgage 603,063 536,805 Other mortgage 997,079 830,683 Total real estate - mortgage 2,928,808 2,539,207 Consumer 62,213 55,211 Total Loans 5,851,261 4,911,770 Less: Allowance for loan losses (59,406 ) (51,893 ) Net Loans $ 5,791,855 $ 4,859,877 Changes in the allowance for loan losses during the years ended December 31, 2017, 2016 2015, Years Ended December 31, 2017 2016 2015 (In Thousands) Balance, beginning of year $ 51,893 $ 43,419 $ 35,629 Loans charged off (16,332 ) (5,198 ) (5,744 ) Recoveries 620 274 687 Provision for loan losses 23,225 13,398 12,847 Balance, end of year $ 59,406 $ 51,893 $ 43,419 The Company assesses the adequacy of its allowance for loan losses at the end of each calendar quarter. The level of the allowance is based on management’s evaluation of the loan portfolios, past loan loss experience, current asset quality trends, known and inherent risks in the portfolio, adverse situations that may may may Commercial and industrial loans may may Real estate construction loans Real estate mortgage loans may Consumer loans The following table presents an analysis of the allowance for loan losses by portfolio segment as of December 31, 2017 2016. Changes in the allowance for loan losses, segregated by loan type, during the years ended December 31, 2017 2016, Commercial, financial and Real estate - Real estate - agricultural construction mortgage Consumer Total (In Thousands) Year Ended December 31, 2017 Allowance for loan losses: Balance at December 31, 2016 $ 28,872 $ 5,125 $ 17,504 $ 392 $ 51,893 Charge-offs (13,910 ) (56 ) (2,056 ) (310 ) (16,332 ) Recoveries 337 168 89 26 620 Provision 17,581 (248 ) 5,485 407 23,225 Balance at December 31, 2017 $ 32,880 $ 4,989 $ 21,022 $ 515 $ 59,406 December 31, 2017 Individually Evaluated for Impairment $ 4,276 $ 120 $ 1,163 $ 50 $ 5,609 Collectively Evaluated for Impairment 28,604 4,869 19,859 465 53,797 Loans: Ending Balance $ 2,279,366 $ 580,874 $ 2,928,808 $ 62,213 $ 5,851,261 Individually Evaluated for Impairment 26,447 1,571 12,404 88 40,510 Collectively Evaluated for Impairment 2,252,919 579,303 2,916,404 62,125 5,810,751 Year Ended December 31, 2016 Allowance for loan losses: Balance at December 31, 2015 $ 21,495 $ 5,432 $ 16,061 $ 431 $ 43,419 Charge-offs (3,791 ) (815 ) (380 ) (212 ) (5,198 ) Recoveries 49 76 146 3 274 Provision 11,119 432 1,677 170 13,398 Balance at December 31, 2016 $ 28,872 $ 5,125 $ 17,504 $ 392 $ 51,893 December 31, 2016 Individually Evaluated for Impairment $ 6,607 $ 923 $ 622 $ - $ 8,152 Collectively Evaluated for Impairment 22,265 4,202 16,882 392 43,741 Loans: Ending Balance $ 1,982,267 $ 335,085 $ 2,539,207 $ 55,211 $ 4,911,770 Individually Evaluated for Impairment 27,922 4,314 13,350 3 45,589 Collectively Evaluated for Impairment 1,954,345 330,771 2,525,857 55,208 4,866,181 The credit quality of the loan portfolio is summarized no • Pass – loans which are well protected by the current net worth and paying capacity of the obligor (or obligors, if any) or by the fair value, less cost to acquire and sell, of any underlying collateral. • Special Mention – loans with potential weakness that may, not not not • Substandard – loans that exhibit well-defined weakness or weaknesses that presently jeopardize debt repayment. These loans are characterized by the distinct possibility that the institution will sustain some loss if the weaknesses are not • Doubtful – loans that have all the weaknesses inherent in loans classified substandard, plus the added characteristic that the weaknesses make collection or liquidation in full on the basis of currently existing facts, conditions, and values highly questionable and improbable. Loans by credit quality indicator as of December 31, 2017 2016 Special December 31, 2017 Pass Mention Substandard Doubtful Total (In Thousands) Commercial, financial and agricultural $ 2,225,084 $ 27,835 $ 26,447 $ - $ 2,279,366 Real estate - construction 572,657 6,691 1,526 - 580,874 Real estate - mortgage: Owner-occupied commercial 1,317,113 7,333 4,220 - 1,328,666 1-4 family mortgage 598,222 1,599 3,242 - 603,063 Other mortgage 976,348 18,122 2,609 - 997,079 Total real estate - mortgage 2,891,683 27,054 10,071 - 2,928,808 Consumer 62,083 42 88 - 62,213 Total $ 5,751,507 $ 61,622 $ 38,132 $ - $ 5,851,261 Special December 31, 2016 Pass Mention Substandard Doubtful Total (In Thousands) Commercial, financial and agricultural $ 1,893,664 $ 61,035 $ 27,568 $ - $ 1,982,267 Real estate - construction 324,958 5,861 4,266 - 335,085 Real estate - mortgage: Owner-occupied commercial 1,158,615 6,037 7,067 - 1,171,719 1-4 family mortgage 531,868 2,065 2,872 - 536,805 Other mortgage 818,724 11,224 735 - 830,683 Total real estate - mortgage 2,509,207 19,326 10,674 - 2,539,207 Consumer 55,135 76 - - 55,211 Total $ 4,782,964 $ 86,298 $ 42,508 $ - $ 4,911,770 Nonperforming loans include nonaccrual loans and loans 90 December 31, 2017 2016 December 31, 2017 Performing Nonperforming Total (In Thousands) Commercial, financial and agricultural $ 2,269,642 $ 9,724 $ 2,279,366 Real estate - construction 580,874 - 580,874 Real estate - mortgage: Owner-occupied commercial 1,328,110 556 1,328,666 1-4 family mortgage 602,604 459 603,063 Other mortgage 997,079 - 997,079 Total real estate - mortgage 2,927,793 1,015 2,928,808 Consumer 62,127 86 62,213 Total $ 5,840,436 $ 10,825 $ 5,851,261 December 31, 2016 Performing Nonperforming Total (In Thousands) Commercial, financial and agricultural $ 1,974,975 $ 7,292 $ 1,982,267 Real estate - construction 331,817 3,268 335,085 Real estate - mortgage: Owner-occupied commercial 1,165,511 6,208 1,171,719 1-4 family mortgage 536,731 74 536,805 Other mortgage 830,683 - 830,683 Total real estate - mortgage 2,532,925 6,282 2,539,207 Consumer 55,166 45 55,211 Total $ 4,894,883 $ 16,887 $ 4,911,770 Loans by past due status as of December 31, 2017 2016 December 31, 2017 Past Due Status (Accruing Loans) Total Past 30-59 Days 60-89 Days 90+ Days Due Non-Accrual Current Total Loans (In Thousands) Commercial, financial and agricultural $ 1,410 $ 5,702 $ 12 $ 7,124 $ 9,712 $ 2,262,530 $ 2,279,366 Real estate - construction 56 997 - 1,053 - 579,821 580,874 Real estate - mortgage: Owner-occupied commercial - 3,664 - 3,664 556 1,324,446 1,328,666 1-4 family mortgage 430 850 - 1,280 459 601,324 603,063 Other mortgage 5,116 - - 5,116 - 991,963 997,079 Total real estate - mortgage 5,546 4,514 - 10,060 1,015 2,917,733 2,928,808 Consumer 131 23 48 202 38 61,973 62,213 Total $ 7,143 $ 11,236 $ 60 $ 18,439 $ 10,765 $ 5,822,057 $ 5,851,261 December 31, 2016 Past Due Status (Accruing Loans) Total Past 30-59 Days 60-89 Days 90+ Days Due Non-Accrual Current Total Loans (In Thousands) Commercial, financial and agricultural $ 710 $ 40 $ 10 $ 760 $ 7,282 $ 1,974,225 $ 1,982,267 Real estate - construction 59 - - 59 3,268 331,758 335,085 Real estate - mortgage: Owner-occupied commercial - - 6,208 6,208 - 1,165,511 1,171,719 1-4 family mortgage 160 129 - 289 74 536,442 536,805 Other mortgage 95 811 - 906 - 829,777 830,683 Total real estate - mortgage 255 940 6,208 7,403 74 2,531,730 2,539,207 Consumer 52 17 45 114 - 55,097 55,211 Total $ 1,076 $ 997 $ 6,263 $ 8,336 $ 10,624 $ 4,892,810 $ 4,911,770 Fair value estimates for specifically impaired loans are derived from appraised values based on the current market value or as is value of the property, normally from recently received and reviewed appraisals. Appraisals are obtained from state-certified appraisers and are based on certain assumptions, which may may The following table presents details of the Company’s impaired loans as of December 31, 2017 2016, not December 31, 2017 Unpaid Average Interest Income Recorded Principal Related Recorded Recognized Investment Balance Allowance Investment in Period (In Thousands) With no allowance recorded: Commercial, financial and agricultural $ 10,036 $ 16,639 $ - $ 16,417 $ 571 Real estate - construction 574 577 - 663 31 Real estate - mortgage: Owner-occupied commercial 2,640 2,806 - 2,875 159 1-4 family mortgage 2,262 2,262 - 2,289 93 Other mortgage 746 746 - 727 44 Total real estate - mortgage 5,648 5,814 - 5,891 296 Consumer 38 39 - 42 3 Total with no allowance recorded 16,296 23,069 - 23,013 901 With an allowance recorded: Commercial, financial and agricultural 16,411 16,992 4,276 17,912 651 Real estate - construction 997 997 120 997 56 Real estate - mortgage: Owner-occupied commercial 3,914 3,914 601 3,801 215 1-4 family mortgage 980 980 281 1,113 54 Other mortgage 1,862 1,862 281 1,862 80 Total real estate - mortgage 6,756 6,756 1,163 6,776 349 Consumer 50 50 50 42 3 Total with allowance recorded 24,214 24,795 5,609 25,727 1,059 Total Impaired Loans: Commercial, financial and agricultural 26,447 33,631 4,276 34,329 1,222 Real estate - construction 1,571 1,574 120 1,660 87 Real estate - mortgage: Owner-occupied commercial 6,554 6,720 601 6,676 374 1-4 family mortgage 3,242 3,242 281 3,402 147 Other mortgage 2,608 2,608 281 2,589 124 Total real estate - mortgage 12,404 12,570 1,163 12,667 645 Consumer 88 89 50 84 6 Total impaired loans $ 40,510 $ 47,864 $ 5,609 $ 48,740 $ 1,960 December 31, 2016 Unpaid Average Interest Income Recorded Principal Related Recorded Recognized in Investment Balance Allowance Investment Period (In Thousands) With no allowance recorded: Commercial, financial and agricultural $ 1,003 $ 1,003 $ - $ 992 $ 64 Real estate - construction 938 1,802 - 1,159 3 Real estate - mortgage: Owner-occupied commercial 2,615 2,778 - 2,884 166 1-4 family mortgage 1,899 1,899 - 1,901 102 Other mortgage 940 940 - 965 60 Total real estate - mortgage 5,454 5,617 - 5,750 328 Consumer 3 5 - 6 - Total with no allowance recorded 7,398 8,427 - 7,907 395 With an allowance recorded: Commercial, financial and agricultural 26,919 31,728 6,607 26,955 1,162 Real estate - construction 3,376 3,376 923 3,577 68 Real estate - mortgage: Owner-occupied commercial 6,924 6,924 348 6,934 362 1-4 family mortgage 972 972 274 313 19 Other mortgage - - - - - Total real estate - mortgage 7,896 7,896 622 7,247 381 Consumer - - - - - Total with allowance recorded 38,191 43,000 8,152 37,779 1,611 Total Impaired Loans: Commercial, financial and agricultural 27,922 32,731 6,607 27,947 1,226 Real estate - construction 4,314 5,178 923 4,736 71 Real estate - mortgage: Owner-occupied commercial 9,539 9,702 348 9,818 528 1-4 family mortgage 2,871 2,871 274 2,214 121 Other mortgage 940 940 - 965 60 Total real estate - mortgage 13,350 13,513 622 12,997 709 Consumer 3 5 - 6 - Total impaired loans $ 45,589 $ 51,427 $ 8,152 $ 45,686 $ 2,006 Troubled Debt Restructurings (“TDR”) at December 31, 2017 2016 $20.6 $7.3 December 31, 2017, $4.3 $2.3 December 31, 2016. December 31, 2017 2016 Year Ended December 31, 2017 Pre- Post- Modification Modification Outstanding Outstanding Number of Recorded Recorded Contracts Investment Investment (In Thousands) Troubled Debt Restructurings Commercial, financial and agricultural 6 $ 11,438 $ 11,438 Real estate - construction 1 997 997 Real estate - mortgage: Owner-occupied commercial 2 3,664 3,664 1-4 family mortgage 1 850 850 Other mortgage - - - Total real estate - mortgage 3 4,514 4,514 Consumer - - - 10 $ 16,949 $ 16,949 Year ended December 31, 2016 Pre- Post- Modification Modification Outstanding Outstanding Number of Recorded Recorded Contracts Investment Investment Commercial, financial and agricultural 9 $ 7,099 $ 7,099 Real estate - construction - - - Real estate - mortgage: Owner-occupied commercial - - - 1-4 family mortgage - - - Other mortgage 1 234 234 Total real estate - mortgage 1 234 234 Consumer - - - 10 $ 7,333 $ 7,333 The following table presents TDRs by portfolio segment which defaulted during the years ended December 31, 2017 2016, twelve twelve 90 Year Ended December 31, 2017 2016 Defaulted during the period, where modified in a TDR twelve months prior to default Commercial, financial and agricultural $ - $ 6,734 Real estate - construction - - Real estate - mortgage: Owner occupied commercial - - 1-4 family mortgage - - Other mortgage - - Total real estate - mortgage - - Consumer - - $ - $ 6,734 In the ordinary course of business, the Company has granted loans to certain related parties, including directors, and their affiliates. The interest rates on these loans were substantially the same as rates prevailing at the time of the transaction and repayment terms are customary for the type of loan. Changes in related party loans for the years ended December 31, 2017 2016 Years Ended December 31, 2017 2016 (In Thousands) Balance, beginning of year $ 10,806 $ 12,090 Advances 7,351 9,763 Repayments (9,717 ) (11,047 ) Balance, end of year $ 8,440 $ 10,806 |
Note 5 - Foreclosed Properties
Note 5 - Foreclosed Properties | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Real Estate Disclosure [Text Block] | NOTE 5. Other real estate and certain other assets acquired in foreclosure are carried at the lower of the recorded investment in the loan or fair value less estimated costs to sell the property. An analysis of foreclosed properties for the years ended December 31, 2017, 2016 2015 2017 2016 2015 (In Thousands) Balance at beginning of year $ 4,988 $ 5,392 $ 6,840 OREO acquired - - 2,348 Transfers from loans and capitalized expenses 4,685 4,112 2,210 Foreclosed properties sold (2,982 ) (3,931 ) (5,227 ) Writedowns and partial liquidations 10 (585 ) (779 ) Balance at end of year $ 6,701 $ 4,988 $ 5,392 |
Note 6 - Premises and Equipment
Note 6 - Premises and Equipment | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Property, Plant and Equipment Disclosure [Text Block] | NOTE 6. Premises and equipment are summarized as follows: December 31, 2017 2016 (In Thousands) Land $ 5,468 $ 5,506 Building 36,259 7,817 Furniture and equipment 23,297 18,668 Leasehold improvements 9,599 7,469 Construction in progress 88 14,115 Total premises and equipment, gross 74,711 53,575 Accumulated depreciation (15,811 ) (13,261 ) Total premises and equipment, net of accumulated depreciation $ 58,900 $ 40,314 Increases in land and building and decreases in construction in progress are the result of the recently completed headquarters building in Birmingham, Alabama. The new headquarters building, which opened in the fourth 2017, 97,500 The provisions for depreciation charged to occupancy and equipment expense for the years ended December 31, 2017, 2016 2015 $2,568,000, $2,724,000 $2,219,000, The Company leases land and building space under non-cancellable operating leases. Future minimum lease payments under non-cancellable operating leases at December 31, 2017 (In Thousands) 2018 $ 3,093 2019 3,024 2020 3,007 2021 2,397 2022 2,384 Thereafter 3,641 Total $ 17,546 For the years ended December 31, 2017, 2016 2015, $4,253,000, $3,759,000, $2,919,000, |
Note 7 - Variable Interest Enti
Note 7 - Variable Interest Entities (VIEs) | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Disclosure of Variable Interest Entities [Text Block] | NOTE 7. The Company utilizes special purpose entities (SPEs) that constitute investments in limited partnerships that undertake certain development projects to achieve federal and state tax credits. These SPEs are typically structured as VIEs and are thus subject to consolidation by the reporting enterprise that absorbs the majority of the economic risks and rewards of the VIE. To determine whether it must consolidate a VIE, the Company analyzes the design of the VIE to identify the sources of variability within the VIE, including an assessment of the nature of risks created by the assets and other contractual obligations of the VIE, and determines whether it will absorb a majority of that variability. The Company has invested in a limited partnership for which it determined it is not not December 31, 2017 2016 $0 $96,000, The Company has invested in limited partnerships as a funding investor. The partnerships are single purpose entities that lend money to real estate investors for the purpose of acquiring and operating, or rehabbing, commercial property. The investments qualify for New Market Tax Credits under Internal Revenue Code Section 45D, 47, 42, not not December 31, 2017 2016 $21,147,000 $24,117,000, $13,555,000 $14,254,000 December 31, 2017 2016, |
Note 8 - Deposits
Note 8 - Deposits | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Deposit Liabilities Disclosures [Text Block] | NOTE 8. Deposits at December 31, 2017 2016 December 31, 2017 2016 (In Thousands) Noninterest-bearing demand $ 1,440,326 $ 1,281,605 Interest-bearing checking 4,029,147 3,562,165 Savings 50,959 48,718 Time deposits, $250,000 and under 228,540 234,157 Time deposits, over $250,000 342,702 293,666 Total $ 6,091,674 $ 5,420,311 The scheduled maturities of time deposits at December 31, 2017 (In Thousands) 2018 $ 353,413 2019 96,661 2020 41,844 2021 46,862 2022 32,412 Thereafter 50 Total $ 571,242 At December 31, 2017 2016, $1,717,000 $2,033,000, |
Note 9 - Federal Funds Purchase
Note 9 - Federal Funds Purchased | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Federal Funds Purchased [Text Block] | NOTE 9. At December 31, 2017, $301.8 $355.9 December 31, 2016. 1.55% 1.70% December 31, 2017 0.75% 0.80% December 31, 2016. At December 31, 2017, $468.0 no $378.0 December 31, 2016. |
Note 10 - Other Borrowings
Note 10 - Other Borrowings | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Short-term Debt [Text Block] | NOTE 10. Other borrowings are comprised of: • $34.75 5% July 15, 2025, July 2015 may not July 15, 2020. • $30.0 4.5% November 8, 2027, November 2017 may not November 8, 2022. • $200,000 0.75% $100,000 May 22, 2018. Debt is reported net of unamortized issuance costs of $118,000 $87,000 December 31, 2017 2016, |
Note 11 - SF Intermediate Holdi
Note 11 - SF Intermediate Holding Company, Inc., SF Holding 1, Inc., SF Realty 1, Inc., SF FLA Realty, Inc., SF GA Realty, Inc. and SF TN Realty, Inc. | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Investments in Subsidiaries [Text Block] | NOTE 11. 1, 1, In January 2012, 1, 1, September 2013, 1, May 2014, 1, February 2016, 1, February 2016, 1, 1, first 1, 1, 1, |
Note 12 - Participation in the
Note 12 - Participation in the Small Business Lending Fund of the U.S. Treausury Department | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Repurchase Agreements, Resale Agreements, Securities Borrowed, and Securities Loaned Disclosure [Text Block] | NOTE 12. On July 31, 2015, 40,000 June 21, 2011, $40,033,000 The Preferred Stock, Series A, was issued pursuant to the Treasury’s Small Business Lending Fund program, a $30 2010, $10 January 1, April 1, July 1 October 1, October 1, 2011. 1% 9% December 2015. 1% |
Note 13 - Derivatives
Note 13 - Derivatives | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Derivative Instruments and Hedging Activities Disclosure [Text Block] | NOTE 13. The Company has entered into agreements with secondary market investors to deliver loans on a “best efforts delivery” basis. When a rate is committed to a borrower, it is based on the best price that day and locked with the investor for the customer for a 30 not no December 31, 2017 December 31, 2016 not |
Note 14 - Employee and Director
Note 14 - Employee and Director Benefits | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | NOTE 14. At December 31, 2017, two $1,170,000, $1,198,000 $1,265,000 December 31, 2017, 2016 2015, Stock Incentive Plans The Company’s 2005 “2005 3,150,000 2006, 2005 6,150,000 may 2005 2019 ten not not 2005 2005 On March 23, 2009, 2009 “2009 2009 2009 2,550,000 2014, 2009 5,550,000 2009 As of December 31, 2017, 3,478,644 2005 2009 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-Merton valuation model. This model requires the input of highly subjective assumptions, changes to which can materially affect the fair value estimate. The fair value of each option granted is estimated on the date of grant using the Black-Scholes-Merton model based on the weighted-average assumptions for expected dividend yield, expected stock price volatility, risk-free interest rate and expected life of options granted. The assumptions used in determining the fair value of 2017, 2016 2015 2017 2016 2015 Expected price volatility 29.00 % 29.00 % 24.00 % Expected dividend yield 0.44 % 0.64 % 0.71 % Expected term (in years) 6 6 6 Risk-free rate 2.08 % 1.85 % 1.85 % The weighted average grant-date fair value of options granted during the years ended December 31, 2017, 2016 2015 $11.82, $6.00 $4.20, The following tables summarize stock option activity: Shares Weighted Average Exercise Price Weighted Average Remaining Contractual Term (years) Aggregate Intrinsic Value (In Thousands) Year Ended December 31, 2017: Outstanding at beginning of year 2,026,334 $ 9.00 6.2 $ 57,636 Granted 58,000 37.59 9.1 227 Exercised (385,500 ) 4.96 4.0 14,087 Forfeited (32,000 ) 21.96 8.1 625 Outstanding at end of year 1,666,834 $ 10.68 5.5 $ 51,377 Exercisable at December 31, 2017 808,236 $ 5.22 3.9 $ 29,321 Year Ended December 31, 2016: Outstanding at beginning of year 2,498,834 $ 6.66 6.3 $ 42,746 Granted 241,000 20.15 9.1 4,166 Exercised (682,500 ) 4.28 3.9 22,629 Forfeited (31,000 ) 11.04 6.8 818 Outstanding at end of year 2,026,334 $ 9.00 6.2 $ 57,636 Exercisable at December 31, 2016 928,536 $ 5.08 4.8 $ 30,051 Year Ended December 31, 2015: Outstanding at beginning of year 3,245,834 $ 4.69 5.9 $ 38,256 Granted 324,000 16.63 9.2 2,311 Exercised (1,051,000 ) 3.62 2.7 21,177 Forfeited (20,000 ) 8.40 7.1 - Outstanding at end of year 2,498,834 $ 6.66 6.3 $ 42,746 Exercisable at December 31, 2015 410,836 $ 4.84 5.4 $ 7,775 Exercisable options at December 31, 2017 Range of Shares Weighted Weighted Aggregate (In Thousands) $ 4.17 145,336 $ 4.17 2.4 $ 5,426 5.00 483,500 5.00 3.8 17,648 5.50 120,000 5.50 5.2 4,320 6.92 45,000 6.92 6.0 1,556 15.74 14,400 15.74 7.1 371 808,236 5.22 3.9 $ 29,321 As of December 31, 2017, $1,973,000 December 31, 2017, 2.5 December 31, 2017, 2016 2015 $315,000, $1,908,000 $242,000, Restricted Stock The Company periodically grants restricted stock awards that vest upon service conditions. Dividend payments are made during the vesting period. The value of restricted stock is determined to be the current value of the Company’s stock, and this total value will be recognized as compensation expense over the vesting period. As of December 31, 2017, $473,000 December 31, 2017, 1.0 Retirement Plans The Company has a retirement savings 401 21 may one June 15, 2005, may $1,419,000, $1,294,000 $1,080,000 2017, 2016 2015, |
Note 15 - Common Stock
Note 15 - Common Stock | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Stockholders' Equity Note Disclosure [Text Block] | NOTE 15. On November 16, 2016, two one December 20, 2016, December 5, 2016 one two one three one On January 31, 2015, $20.9 1,273,184 On June 16, 2014, three one July 16, 2014, July 9, 2014 two On May 19, 2014, 3,750,000 $15.167 $52.1 |
Note 16 - Regulatory Matters
Note 16 - Regulatory Matters | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Regulatory Capital Requirements under Banking Regulations [Text Block] | NOTE 16. The Bank is subject to dividend restrictions set forth in the Alabama Banking Code and by the Alabama State Banking Department. Under such restrictions, the Bank may not, two $239.0 December 31, 2017. The Bank is subject to various regulatory capital requirements administered by the state and federal banking agencies. Failure to meet minimum capital requirements can initiate certain mandatory and possible additional discretionary actions by regulators that, if undertaken, could have a direct material effect on the Bank and the financial statements. Under regulatory capital adequacy guidelines and the regulatory framework for prompt corrective action, the Bank must meet specific capital guidelines involving quantitative measures of the Bank’s assets, liabilities, and certain off-balance-sheet items as calculated under regulatory accounting practices. The Bank’s capital amounts and classification under the prompt corrective guidelines are also subject to qualitative judgments by the regulators about components, risk weightings, and other factors. Quantitative measures established by regulation to ensure capital adequacy require the Bank to maintain minimum amounts and ratios (set forth in the table below) of common equity Tier 1 1 1 December 31, 2017, In July 2013, January 1, 2015, 1, three CET1, 1 January 1, 2016 January 1, 2019, 1 2.5% December 31, 2017 1.25% As of December 31, 2017, CET1, 1 1 December 31, 2017. The Company’s and Bank’s actual capital amounts and ratios are presented in the following table: Actual For Capital Adequacy To Be Well Capitalized Under Amount Ratio Amount Ratio Amount Ratio As of December 31, 2017: CET I Capital to Risk Weighted Assets: Consolidated $ 593,111 9.51 % $ 280,553 4.50 % N/A N/A ServisFirst Bank 651,201 10.45 % 280,523 4.50 % $ 405,199 6.50 % Tier I Capital to Risk Weighted Assets: Consolidated 593,613 9.52 % 374,070 6.00 % N/A N/A ServisFirst Bank 651,703 10.45 % 374,030 6.00 % 498,707 8.00 % Total Capital to Risk Weighted Assets: Consolidated 718,151 11.52 % 498,760 8.00 % N/A N/A ServisFirst Bank 711,609 11.42 % 498,707 8.00 % 623,384 10.00 % Tier I Capital to Average Assets: Consolidated 593,613 8.51 % 278,970 4.00 % N/A N/A ServisFirst Bank 651,703 9.35 % 278,954 4.00 % 348,693 5.00 % As of December 31, 2016: CET I Capital to Risk Weighted Assets: Consolidated $ 508,982 9.78 % $ 234,262 4.50 % N/A N/A ServisFirst Bank 560,731 10.77 % 234,232 4.50 % $ 338,335 6.50 % Tier I Capital to Risk Weighted Assets: Consolidated 509,359 9.78 % 312,350 6.00 % N/A N/A ServisFirst Bank 561,108 10.78 % 312,309 6.00 % 416,413 8.00 % Total Capital to Risk Weighted Assets: Consolidated 616,415 11.84 % 416,467 8.00 % N/A N/A ServisFirst Bank 613,501 11.79 % 416,413 8.00 % 520,516 10.00 % Tier I Capital to Average Assets: Consolidated 509,359 8.22 % 247,777 4.00 % N/A N/A ServisFirst Bank 561,108 9.06 % 247,760 4.00 % 309,700 5.00 % |
Note 17 - Other Operating Incom
Note 17 - Other Operating Income and Expenses | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Other Operating Income (Expense) 1 Text Block] | NOTE 17. The major components of other operating income and expense included in noninterest income and noninterest expense are as follows: Years Ended December 31, 2017 2016 2015 (In Thousands) Other Operating Income ATM fee income $ 1,175 $ 1,061 $ 916 Gain (loss) on sale of other real estate owned 33 18 (136 ) Gain (loss) on sale of fixed assets 1 1,399 (27 ) Other 354 556 331 Total other operating income $ 1,563 $ 3,034 $ 1,084 Other Operating Expenses Data processing $ 5,454 $ 4,832 $ 4,293 Other loan expenses 2,170 1,510 2,086 Customer and public relations 1,695 1,594 1,211 Bank service charges 1,522 1,341 961 Sales and use tax 1,167 781 380 Write-down investment in tax credit partnerships 1,081 2,519 3,966 Telephone 990 740 680 Donations and contributions 744 769 605 Marketing 716 544 562 Supplies 595 555 492 Fraud and forgery losses 515 206 92 Directors fees 472 407 406 Postage 441 377 338 Other operational losses 167 264 126 Other 5,085 4,478 3,902 Total other operating expenses $ 22,814 $ 20,917 $ 20,100 |
Note 18 - Income Taxes
Note 18 - Income Taxes | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | NOTE 18. The components of income tax expense are as follows: Year Ended December 31, 2017 2016 2015 (In Thousands) Current tax expense: Federal $ 27,952 $ 29,813 $ 28,517 State 2,258 1,254 1,824 Total current tax expense 30,210 31,067 30,341 Deferred tax expense (benefit): Federal 17,073 (662 ) (3,277 ) State (3,025 ) (1,066 ) (1,599 ) Total deferred tax (benefit) 14,048 (1,728 ) (4,876 ) Total income tax expense $ 44,258 $ 29,339 $ 25,465 The Company’s total income tax expense differs from the amounts computed by applying the Federal income tax statutory rates to income before income taxes. A reconciliation of the differences is as follows: Year Ended December 31, 2017 Amount % of Pre-tax (In Thousands) Income tax at statutory federal rate $ 48,073 35.00 % Effect on rate of: State income tax, net of federal tax effect 43 0.03 % Tax-exempt income, net of expenses (1,356 ) (0.99 )% Bank owned life insurance contracts (1,096 ) (0.80 )% Excess tax benefit from stock compensation (4,278 ) (3.11 )% Federal tax credits (234 ) (0.17 )% Enacted tax rate change 3,108 2.26 % Other (2 ) - % Effective income tax and rate $ 44,258 32.22 % Year Ended December 31, 2016 Amount % of Pre-tax (In Thousands) Income tax at statutory federal rate $ 38,786 35.00 % Effect on rate of: State income tax, net of federal tax effect 254 0.23 % Tax-exempt income, net of expenses (1,322 ) (1.20 )% Bank owned life insurance contracts (978 ) (0.88 )% Excess tax benefit from stock compensation (4,788 ) (4.32 )% Federal tax credits (2,652 ) (2.40 )% Other 39 0.04 % Effective income tax and rate $ 29,339 26.47 % Year Ended December 31, 2015 Amount % of Pre-tax (In Thousands) Income tax at statutory federal rate $ 31,152 35.00 % Effect on rate of: State income tax, net of federal tax effect 146 0.16 % Tax-exempt income, net of expenses (1,308 ) (1.47 )% Bank owned life insurance contracts (917 ) (1.03 )% Incentive stock option expense 3 - % Federal tax credits (3,600 ) (4.04 )% Other (11 ) (0.01 )% Effective income tax and rate $ 25,465 28.61 % The components of net deferred tax asset are as follows: December 31, 2017 2016 (In Thousands) Deferred tax assets: Allowance for loan losses $ 14,905 $ 19,699 Other real estate owned 232 737 Nonqualified equity awards 927 1,234 Nonaccrual interest 178 501 State tax credits 5,688 3,475 Investments 1,296 2,173 Deferred loan fees 866 707 Reserve for unfunded commitments 125 190 Accrued bonus 1,521 1,817 Differences in amounts reflected in financial statements and income tax basis of assets acquired and liabilities assumed in acquisition 175 448 Acquired net operating losses - 27 Net unrealized loss on securities available for sale 65 331 Other deferred tax assets 431 122 Total deferred tax assets 26,409 31,461 Deferred tax liabilities: REIT dividend 9,706 - Depreciation 3,240 3,606 Prepaid expenses 164 198 Acquired intangible assets 277 525 Total deferred tax liabilities 13,387 4,329 Net deferred tax assets $ 13,022 $ 27,132 The Company believes its net deferred tax asset is recoverable as of December 31, 2017 Pursuant to ASC 740 10 30 2 Income Taxes December 22, 2017, 2018” 35% 21% December 31, 2017. December 31, 2017, December 31, 2017 $3,108,000. The Company and its subsidiaries file a consolidated U.S. Federal income tax return and various consolidated and separate company state income tax returns. The Company is currently open to audit under the statute of limitations by the Internal Revenue Service for the years ended December 31, 2014 2017. December 31, 2014 2017. no Accrued interest and penalties on unrecognized income tax benefits totaled $116,000 $94,000 December 31, 2017 2016, December 31, 2017 December 31, 2016, $1,779,000 $1,375,000 not twelve The following table presents a summary of the changes during 2017, 2016 2015 2017 2016 2015 (In Thousands) Balance, beginning of year $ 1,375 $ 1,173 $ 804 Increases related to prior year tax positions 365 364 369 Decreases related to prior year tax positions - - - Increases related to current year tax positions - - - Settlements - - - Enacted tax rate change 315 - - Lapse of statute (276 ) (162 ) - Balance, end of year $ 1,779 $ 1,375 $ 1,173 |
Note 19 - Commitments and Conti
Note 19 - Commitments and Contingencies | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | NOTE 19. Loan Commitments The Company is a party to financial instruments with off-balance-sheet risk in the normal course of business to meet the financing needs of its customers. These financial instruments include commitments to extend credit, credit card arrangements, and standby letters of credit. Such commitments involve, to varying degrees, elements of credit and interest rate risk in excess of the amount recognized in the balance sheets. A summary of the Company’s approximate commitments and contingent liabilities is as follows: 2017 2016 2015 (In Thousands) Commitments to extend credit $ 1,945,171 $ 1,667,015 $ 1,409,425 Credit card arrangements 128,149 100,678 62,462 Standby letters of credit and financial guarantees 41,654 40,991 38,224 Total $ 2,114,974 $ 1,808,684 $ 1,510,111 Commitments to extend credit, credit card arrangements, commercial letters of credit and standby letters of credit all include exposure to some credit loss in the event of nonperformance of the customer. The Company uses the same credit policies in making commitments and conditional obligations as it does for on-balance sheet financial instruments. Because these instruments have fixed maturity dates, and because many of them expire without being drawn upon, they do not |
Note 20 - Concentrations of Cre
Note 20 - Concentrations of Credit | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Concentration Risk Disclosure [Text Block] | NOTE 20. The Company originates primarily commercial, residential, and consumer loans to customers in the Company’s market area. The ability of the majority of the Company’s customers to honor their contractual loan obligations is dependent on the economy in the market area. The Company’s loan portfolio is concentrated primarily in loans secured by real estate, principally secured by real estate in the Company’s primary market areas. In addition, a substantial portion of the other real estate owned is located in that same market. Accordingly, the ultimate collectability of the loan portfolio and the recovery of the carrying amount of other real estate owned are susceptible to changes in market conditions in the Company’s primary market area. |
Note 21 - Earnings Per Common S
Note 21 - Earnings Per Common Share | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | NOTE 21. Basic earnings per common share are computed by dividing net income available to common stockholders by the weighted average number of common shares outstanding during the period. Diluted earnings per common share include the dilutive effect of additional potential common shares issuable under stock options. Year Ended December 31, 2017 2016 2015 (Dollar Amounts In Thousands Except Per Share Amounts) Earnings Per Share Weighted average common shares outstanding 52,887,359 52,450,896 51,426,466 Net income available to common stockholders $ 93,030 $ 81,432 $ 63,260 Basic earnings per common share $ 1.76 1.55 $ 1.23 Weighted average common shares outstanding 52,887,359 52,450,896 51,426,466 Dilutive effects of assumed conversions and exercise of stock options and warrants 1,236,598 1,157,476 1,458,642 Weighted average common and dilutive potential common shares outstanding 54,123,957 53,608,372 52,885,108 Net income available to common stockholders $ 93,030 $ 81,432 $ 63,260 Diluted earnings per common share $ 1.72 $ 1.52 $ 1.20 |
Note 22 - Related Party Transac
Note 22 - Related Party Transactions | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Related Party Transactions Disclosure [Text Block] | NOTE 22. As more fully described in Note 4, December 31, 2017 2016 $8.4 $10.8 $7.0 $7.9 December 31, 2017 2016, |
Note 23 - Fair Value Measuremen
Note 23 - Fair Value Measurement | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | NOTE 23. Measurement of fair value under U.S. GAAP establishes a hierarchy that prioritizes observable and unobservable inputs used to measure fair value, as of the measurement date, into three Level 1: 1 Level 2: not Level 3: no 3 In determining fair value, the Company utilizes valuation techniques that maximize the use of observable inputs and minimize the use of unobservable inputs to the extent possible and also considers counterparty credit risk in its assessment of fair value. Debt Securities 1 1 not may 2 1 2 not 3 Impaired Loans not not 820 10 3 $13,253,000 $7,424,000 December 31, 2017 2016, Other Real Estate Owned not 3 $227,000 $585,000 December 31, 2017 2016, 3 There were no December 31, 2017, $189,000 December 31, 2016. No December 31, 2017. The following table presents the Company’s financial assets and financial liabilities carried at fair value on a recurring basis as of December 31, 2017 December 31, 2016: Fair Value Measurements at December 31, 2017 Using Quoted Prices in Active Markets Significant Other Significant for Identical Observable Inputs Unobservable Assets (Level 1) (Level 2) Inputs (Level 3) Total Assets Measured on a Recurring Basis: (In Thousands) Available-for-sale securities: U.S. Treasury and government sponsored agencies $ - $ 55,356 $ - $ 55,356 Mortgage-backed securities - 276,498 - 276,498 State and municipal securities - 134,849 - 134,849 Corporate debt - 64,877 6,500 71,377 Total assets at fair value $ - $ 531,580 $ 6,500 $ 538,080 Fair Value Measurements at December 31, 2016 Using Quoted Prices in Active Markets Significant Other Significant for Identical Observable Inputs Unobservable Assets (Level 1) (Level 2) Inputs (Level 3) Total Assets Measured on a Recurring Basis: (In Thousands) Available-for-sale securities U.S. Treasury and government sponsored agencies $ - $ 46,254 $ - $ 46,254 Mortgage-backed securities - 227,190 - 227,190 State and municipal securities - 139,930 - 139,930 Corporate debt - 9,001 - 9,001 Total assets at fair value $ - $ 422,375 $ - $ 422,375 The carrying amount and estimated fair value of the Company’s financial instruments were as follows: Fair Value Measurements at December 31, 2017 Using Quoted Prices in Active Markets Significant Other Significant for Identical Observable Unobservable Assets (Level 1) Inputs (Level 2) Inputs (Level 3) Total Assets Measured on a Nonrecurring Basis: (In Thousands) Impaired loans $ - - $ 34,901 $ 34,901 Other real estate owned and repossessed assets - - 6,701 6,701 Total assets at fair value - - $ 41,602 $ 41,602 Fair Value Measurements at December 31, 2016 Using Quoted Prices in Active Markets Significant Other Significant for Identical Observable Unobservable Assets (Level 1) Inputs (Level 2) Inputs (Level 3) Total Assets Measured on a Nonrecurring Basis: (In Thousands) Impaired loans $ - $ - $ 37,437 $ 37,437 Other real estate owned - - 4,988 4,988 Total assets at fair value $ - $ - $ 42,425 $ 42,425 The fair value of a financial instrument is the current amount that would be exchanged in a sale between willing parties, other than in a forced liquidation. Fair value is best determined based upon quoted market prices. However, in many instances, there are no not may not may not The following methods and assumptions were used by the Company in estimating its fair value disclosures for financial instruments: Cash and due from banks: Debt securities: 1 1 not may 2 1 2 not 3 Equity securities: Federal funds sold: Mortgage loans held for sale: 30 Bank owned life insurance contracts: Loans, net: no not 820 3 Deposits: not may 2 Federal funds purchased: Other borrowings: 2 Loan commitments: not The carrying amount, estimated fair value and placement in the fair value hierarchy of the Company’s financial instruments as of December 31, 2017 December 31, 2016 not December 31, 2017 2016 Carrying Amount Fair Value Carrying Amount Fair Value (In Thousands) Financial Assets: Level 1 Inputs: Cash and cash equivalents $ 238,062 $ 238,062 $ 623,562 $ 623,562 Level 2 Inputs: Debt securities available for sale $ 531,580 $ 531,580 $ 422,375 $ 422,375 Debt securities held to maturity - - 25,052 25,431 Equity securities 1,034 1,034 1,024 1,024 Federal funds sold 239,524 239,524 160,435 160,435 Mortgage loans held for sale 4,459 4,459 4,675 4,736 Bank owned life insurance contracts 127,519 127,519 114,388 114,388 Level 3 Inputs: Debt securities available for sale $ 6,500 $ 6,500 $ - $ - Debt securities held to maturity 250 250 37,512 37,871 Loans, net 5,791,855 5,747,342 4,859,877 4,872,689 Financial Liabilities: Level 2 Inputs: Deposits $ 6,091,674 $ 6,086,085 $ 5,420,311 $ 5,417,320 Federal funds purchased 301,797 301,797 355,944 355,944 Other borrowings 64,832 65,921 55,262 54,203 |
Note 24 - Parent Company Financ
Note 24 - Parent Company Financial Information | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Condensed Financial Information of Parent Company Only Disclosure [Text Block] | NOTE 24. The following information presents the condensed balance sheet of the Company as of December 31, 2017 2016 December 31, 2017, 2016 2015. CONDENSED BALANCE SHEETS (In Thousands) December 31, 2017 December 31, 2016 ASSETS Cash and due from banks $ 9,891 $ 6,060 Investment in subsidiary 665,192 574,261 Other assets 368 375 Total assets $ 675,451 $ 580,696 LIABILITIES AND STOCKHOLDERS' EQUITY Liabilities: Other borrowings $ 64,632 $ 54,663 Other liabilities 3,717 3,521 Total liabilities 68,349 58,184 Stockholders' equity: Preferred stock, Series A Senior Non-Cumulative Perpetual, par value $0.001 (liquidation preference $1,000), net of discount; no shares authorized, issued and outstanding at December 31, 2017, and December 31, 2016 - - Preferred stock, par value $0.001 per share; 1,000,000 authorized and undesignated at December 31, 2017 and December 31, 2016 - - Common stock, par value $0.001 per share; 100,000,000 shares authorized; 52,992,586 shares issued and outstanding at December 31, 2017 and 52,636,896 shares issued and outstanding at December 31, 2016 53 53 Additional paid-in capital 217,693 215,932 Retained earnings 389,554 307,151 Accumulated other comprehensive (loss) income (198 ) (624 ) Total stockholders' equity 607,102 522,512 Total liabilities and stockholders' equity $ 675,451 $ 580,696 CONDENSED STATEMENTS OF INCOME FOR THE YEARS ENDED DECEMBER 31, 2017, 2016 2015 (In Thousands) 2017 2016 2015 Income: Dividends received from subsidiary $ 6,500 $ 2,500 $ 20,000 Other income 2 2 1 Total income 6,502 2,502 20,001 Expense: Other expenses 2,260 2,208 1,603 Total expenses 2,260 2,208 1,603 Equity in undistributed earnings of subsidiary 88,788 81,138 45,095 Net income 93,030 81,432 63,493 Dividends on preferred stock - - 233 Net income available to common stockholders $ 93,030 $ 81,432 $ 63,260 STATEMENTS OF CASH FLOW FOR THE YEARS ENDED DECEMBER 31, 2017, 2016 2015 (In Thousands) 2017 2016 2015 Operating activities Net income $ 93,030 $ 81,432 $ 63,493 Adjustments to reconcile net income to net cash used in operating activities: Other (314 ) 1,442 (271 ) Equity in undistributed earnings of subsidiary (88,788 ) (81,138 ) (45,095 ) Net cash provided by operating activities 3,928 1,736 18,127 Investing activities Investment in subsidiary - (36,000 ) - Net cash paid in acquisition - - (20,926 ) Other - - 736 Net cash used in investing activities - (36,000 ) (20,190 ) Financing activities Proceeds from issuance of subordinated notes 29,943 - 34,750 Redemption of subordinated notes (20,000 ) - - Redemption of preferred stock - - (40,000 ) Dividends paid on common stock (10,040 ) (7,858 ) (5,883 ) Dividends paid on preferred stock - - (233 ) Net cash provided by financing activities (97 ) (7,858 ) (11,366 ) Increase (decrease) in cash and cash equivalents 3,831 (42,122 ) (13,429 ) Cash and cash equivalents at beginning of year 6,060 48,182 61,611 Cash and cash equivalents at end of year $ 9,891 $ 6,060 $ 48,182 |
Note 25 - Subsequent Events
Note 25 - Subsequent Events | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | NOTE 25. The Company has evaluated all subsequent events through the date of this filing to ensure that this Form 10 December 31, 2017, December 31, 2017 not |
Note 26 - Quarterly Financial D
Note 26 - Quarterly Financial Data (Unaudited) | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Quarterly Financial Information [Text Block] | NOTE 26. The following table sets forth certain unaudited quarterly financial data derived from our consolidated financial statements. Such data is only a summary and should be read in conjunction with our historical consolidated financial statements and related notes continued in this annual report on Form 10 2017 Quarter Ended (Dollars in thousands, except per share data) March 31 June 30 September 30 December 31 Interest income $ 59,517 $ 63,538 $ 67,641 $ 72,060 Interest expense 7,465 7,971 9,245 10,652 Net interest income 52,052 55,567 58,396 61,408 Provision for loan losses 4,986 4,381 4,803 9,055 Net income available to common stockholders 22,519 24,133 25,259 21,119 Net income per common share, basic $ 0.42 $ 0.46 $ 0.48 $ 0.40 Net income per common share, diluted $ 0.41 $ 0.45 $ 0.47 $ 0.39 2016 Quarter Ended (Dollars in thousands, except per share data) March 31 June 30 September 30 December 31 Interest income $ 49,961 $ 52,050 $ 54,691 $ 56,200 Interest expense 5,782 6,159 6,773 7,091 Net interest income 44,179 45,891 47,918 49,109 Provision for loan losses 2,059 3,800 3,464 4,075 Net income available to common stockholders 19,956 18,853 20,909 21,714 Net income per common share, basic $ 0.38 $ 0.36 $ 0.40 $ 0.41 Net income per common share, diluted $ 0.37 $ 0.36 $ 0.39 $ 0.40 |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2017 | |
Accounting Policies [Abstract] | |
Nature of Operations [Policy Text Block] | Nature of Operations ServisFirst Bancshares, Inc. (the “Company”) was formed on August 16, 2007 May 2005. 1, 1, 11. |
Basis of Accounting, Policy and Use of Estimates [Policy Text Block] | Basis of Presentation and Accounting Estimates To prepare consolidated financial statements in conformity with U.S. generally accepted accounting principles, management makes estimates and assumptions based on available information. These estimates and assumptions affect the amounts reported in the financial statements and the disclosures provided, and future results could differ. The allowance for loan losses, valuation of foreclosed real estate, goodwill and other intangible assets and fair values of financial instruments are particularly subject to change. All numbers are in thousands except share and per share data. |
Cash Due From Banks Interest Bearing Balances Due From Financial Institutions [Policy Text Block] | Cash, Due from Banks, Interest-Bearing Balances due from Financial Institutions Cash and due from banks includes cash on hand, cash items in process of collection, amounts due from banks and interest bearing balances due from financial institutions. For purposes of cash flows, cash and cash equivalents include cash and due from banks and federal funds sold. Generally, federal funds are purchased and sold for one The Bank is required to maintain reserve balances in cash or on deposit with the Federal Reserve Bank based on a percentage of deposits. The total of those reserve balances was approximately $51.8 December 31, 2017 $39.2 December 31, 2016. |
Investment, Policy [Policy Text Block] | Debt Securities Securities are classified as available-for-sale when they might be sold before maturity. Unrealized holding gains and losses, net of tax, on securities available for sale are reported as a net amount in a separate component of stockholders’ equity until realized. Gains and losses on the sale of securities available for sale are determined using the specific-identification method. The amortization of premiums and the accretion of discounts are recognized in interest income using methods approximating the interest method over the period to maturity. Declines in the fair value of available-for-sale securities below their cost that are deemed to be other than temporary are reflected in earnings as realized losses. Securities are classified as held-to-maturity when the Company has the positive intent and ability to hold the securities to maturity. Held-to-maturity securities are reported at amortized cost. In determining the existence of other-than-temporary impairment losses, management considers ( 1 2 3 |
Cost Method Investments, Policy [Policy Text Block] | Investments in Equity Securities Carried at Cost Investments in restricted equity securities without a readily determinable market value are carried at cost. |
Loans and Leases Receivable, Mortgage Banking Activities, Policy [Policy Text Block] | Mortgage Loans Held for Sale The Company classifies certain residential mortgage loans as held for sale. Typically mortgage loans held for sale are sold to a third not In the course of originating mortgage loans and selling those loans in the secondary market, the Company makes various representations and warranties to the purchaser of the mortgage loans. Each loan is underwritten using government agency guidelines. Any exceptions noted during this process are remedied prior to sale. These representations and warranties also apply to underwriting the real estate appraisal opinion of value for the collateral securing these loans. Under the representations and warranties, failure by the Company to comply with the underwriting and/or appraisal standards could result in the Company being required to repurchase the mortgage loan or to reimburse the investor for losses incurred (make whole requests) if such failure cannot be cured by the Company within the specified period following discovery. The Company continues to experience an insignificant level of investor repurchase demands. There were no December 31, 2017 2016. |
Policy Loans Receivable, Policy [Policy Text Block] | Loans Loans are reported at unpaid principal balances, less unearned fees and the allowance for loan losses. Interest on all loans is recognized as income based upon the applicable rate applied to the daily outstanding principal balance of the loans. Interest income on nonaccrual loans is recognized on a cash basis or cost recovery basis until the loan is returned to accrual status. A loan may six not one The accrual of interest on loans is discontinued when there is a significant deterioration in the financial condition of the borrower and full repayment of principal and interest is not 90 not A loan is considered impaired when it is probable the Company will be unable to collect all principal and interest payments due according to the contractual terms of the loan agreement. Individually identified impaired loans are measured based on the present value of expected payments using the loan’s original effective rate as the discount rate, the loan’s observable market price, or the fair value of the collateral if the loan is collateral dependent. If the recorded investment in the impaired loan exceeds the measure of fair value, a valuation allowance may Impaired loans also include troubled debt restructurings (“TDRs”). In the normal course of business management grants concessions to borrowers, which would not may six Acquired loans are recorded at fair value at the date of acquisition, and accordingly no 1 not Subsequent decreases to the expected cash flows will generally result in a provision for loan losses. Subsequent significant increases in cash flows result in a reversal of the provision for loan losses to the extent of prior provisions or a reclassification of amount from non-accretable difference to accretable yield, with a positive impact on the accretion of interest income in future periods. Acquired performing loans are accounted for using the contractual cash flows method of recognizing discount accretion based on the acquired loans’ contractual cash flows. Acquired performing loans are recorded as of the acquisition date at fair value, considering credit and other risks, with no 1 |
Loans and Leases Receivable, Allowance for Loan Losses Policy [Policy Text Block] | Allowance for Loan Losses The allowance for loan losses is maintained at a level which, in management’s judgment, is adequate to absorb credit losses inherent in the loan portfolio. The amount of the allowance is based on management’s evaluation of the collectability of the loan portfolio, including the nature of the portfolio, credit concentrations, trends in historical loss experience, specific impaired loans, economic conditions, and other risks inherent in the portfolio. Allowances for impaired loans are generally determined based on collateral values or the present value of the estimated cash flows. The allowance is increased by a provision for loan losses, which is charged to expense, and reduced by charge-offs, net of recoveries. In addition, various regulatory agencies, as an integral part of their examination process, periodically review the allowance for losses on loans. Such agencies may |
Loans and Leases Receivable, Real Estate Acquired Through Foreclosure, Policy [Policy Text Block] | Foreclosed Real Estate Foreclosed real estate includes both formally foreclosed property and in-substance foreclosed property. At the time of foreclosure, foreclosed real estate is recorded at fair value less cost to sell, which becomes the property’s new basis. Any write downs based on the asset’s fair value at date of acquisition are charged to the allowance for loan losses. After foreclosure, these assets are carried at the lower of their new cost basis or fair value less cost to sell. Costs incurred in maintaining foreclosed real estate and subsequent adjustments to the carrying amount of the property are included in other operating expenses. |
Property, Plant and Equipment, Policy [Policy Text Block] | Premises and Equipment Premises and equipment are stated at cost less accumulated depreciation. Expenditures for additions and major improvements that significantly extend the useful lives of the assets are capitalized. Expenditures for repairs and maintenance are charged to expense as incurred. Assets which are disposed of are removed from the accounts and the resulting gains or losses are recorded in operations. Depreciation is calculated on a straight-line basis over the estimated useful lives of the related assets ( 3 39.5 Leasehold improvements are amortized on a straight-line basis over the lesser of the lease terms or the estimated useful lives of the improvements. |
Goodwill and Intangible Assets, Intangible Assets, Policy [Policy Text Block] | Goodwill and Other Identifiable Intangible Assets Other identifiable intangible assets include a core deposit intangible recorded in connection with the acquisition of Metro Bancshares, Inc. The core deposit intangible is being amortized over 7 The Company has recorded $13.6 December 31, 2017 not one |
Derivatives, Policy [Policy Text Block] | Derivatives and Hedging Activities As part of its overall interest rate risk management, the Company uses derivative instruments, which can include interest rate swaps, caps, and floors. Financial Accounting Standards Board (“FASB”) ASC 815 10, The Company designates the derivative on the date the derivative contract is entered into as ( 1 2 The Company formally documents all relationships between hedging instruments and hedged items, as well as its risk-management objective and strategy for undertaking various hedge transactions. This process includes linking all derivatives that are designated as fair-value or cash-flow hedges to specific assets and liabilities on the balance sheet or to specific firm commitments or forecasted transactions. The Company also formally assessed, both at the hedge’s inception and on an ongoing basis (if the hedges do not not 1 no 2 3 4 no 5 no When hedge accounting is discontinued because it is determined that the derivative no no The Company uses derivatives to hedge interest rate exposures associated with mortgage loans held for sale and mortgage loans in process. The Company regularly enters into derivative financial instruments in the form of forward contracts, as part of its normal asset/liability management strategies. The Company’s obligations under forward contracts consist of “best effort” commitments to deliver mortgage loans originated in the secondary market at a future date. Interest rate lock commitments related to loans that are originated for later sale are classified as derivatives. In the normal course of business, the Company regularly extends these rate lock commitments to customers during the loan origination process. The fair values of the Company’s forward contract and rate lock commitments to customers as of December 31, 2017 2016 not not |
Income Tax, Policy [Policy Text Block] | Income Taxes Income tax expense is the total of the current year income tax due or refundable and the change in deferred tax assets and liabilities. Deferred tax assets and liabilities are the expected future tax amounts for the temporary differences between carrying amounts and tax bases of assets and liabilities, computed using enacted tax rates. A valuation allowance, if needed, reduces deferred tax assets to the amount expected to be realized. ; The Company follows the provisions of ASC 740 10, Income Taxes. 740 10 740 10 740 10 740 10 two first not second not 50% |
Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block] | Stock-Based Compensation At December 31, 2017, two 718 10, 505 50, |
Earnings Per Share, Policy [Policy Text Block] | Earnings per Common Share Basic earnings per common share are computed by dividing net income available to common stockholders by the weighted average number of common shares outstanding during the period. Diluted earnings per common share include the dilutive effect of additional potential common shares issuable under stock options and warrants. |
Loan Commitments, Policy [Policy Text Block] | Loan Commitments and Related Financial Instruments Financial instruments, which include credit card arrangements, commitments to make loans and standby letters of credit, are issued to meet customer financing needs. The face amount for these items represents the exposure to loss before considering customer collateral or ability to repay. Such financial instruments are recorded when they are funded. Instruments such as stand-by letters of credit are considered financial guarantees in accordance with FASB ASC 460 10. not |
Fair Value of Financial Instruments, Policy [Policy Text Block] | Fair Value of Financial Instruments Fair values of financial instruments are estimated using relevant market information and other assumptions, as more fully disclosed in Note 23. |
Comprehensive Income, Policy [Policy Text Block] | Comprehensive Income Comprehensive income consists of net income and other comprehensive income. Accumulated comprehensive income, which is recognized as a separate component of equity, includes unrealized gains and losses on securities available for sale. |
Advertising Costs, Policy [Policy Text Block] | Advertising Advertising costs are expensed as incurred. Advertising expense for the years ended December 31, 2017, 2016 2015 $716,000, $544,000 $562,000, |
New Accounting Pronouncements, Policy [Policy Text Block] | Recently Adopted Accounting Pronouncements In February 2015, No. 2015 02, Consolidation (Topic 810 1 2 3 4 2a 7 1940 No. 2015 02 December 15, 2015. not In March 2016, 2016 09, Compensation – Stock Compensation (Topic 718 2016 09” 2016 09 December 15, 2016, second 2016, first 2016. 2017 2016 $4.6 $4.8 2016 09, In March 2016, 2016 07 , Investments – Equity Method and Joint Ventures (Topic 323 December 15, 2016. not In January 2017, 2017 03, Accounting Changes and Error Corrections 250 Investments – Equity Method and Joint Ventures 323 – Amendments to SEC Paragraphs Pursuant to Staff Announcements at the September 22, 2016 November 17, 2016 2017 03 250 10 S99 6 11.M In February 2018, 2018 02, Income Statement - Reporting Comprehensive Income 220 Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income 2017. December 15, 2018 December 31, 2017. $43,000 21% Recent Accounting Pronouncements In May 2014, No. 2014 09, Revenue From Contracts With Customers 606 605, 606, August 2015, 2015 14, Revenue From Contracts With Customers (Topic 606 2014 09, Revenue From Contracts With Customers (Topic 606 one December 15, 2017. not not January 1, 2018 not In January 2016, 2016 01, Financial Instruments Overall (Topic 825 2016 1: January 1, 2018 not In February 2016, 2016 02, Leases (Topic 842 December 15, 2018. January 2018, not 2016 02 In June 2016, 2016 13, Financial Instruments-Credit Losses (Topic 326 December 15, 2019, December 15, 2018. In March 2017, 2017 08, Receivables – Nonrefundable Fees and Other Costs (Subtopic 310 20 not December 15, 2018. not first In May 2017, No. 2017 09, Compensation - Stock Compensation (Topic 718 Scope of Modification Accounting 718. December 15, 2017. no no |
Note 3 - Debt Securities (Table
Note 3 - Debt Securities (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Notes Tables | |
Unrealized Gain (Loss) on Investments [Table Text Block] | Gross Gross Amortized Unrealized Unrealized Market Cost Gain Loss Value December 31, 2017 (In Thousands) Securities Available for Sale U.S. Treasury and government sponsored agencies $ 55,567 $ 38 $ (249 ) $ 55,356 Mortgage-backed securities 278,177 1,006 (2,685 ) 276,498 State and municipal securities 134,641 761 (553 ) 134,849 Corporate debt 69,996 1,416 (35 ) 71,377 Total $ 538,381 $ 3,221 $ (3,522 ) $ 538,080 Securities Held to Maturity State and municipal securities 250 - - 250 Total $ 250 $ - $ - $ 250 December 31, 2016 Securities Available for Sale U.S. Treasury and government sponsored agencies $ 45,998 $ 382 $ (126 ) $ 46,254 Mortgage-backed securities 228,843 1,515 (3,168 ) 227,190 State and municipal securities 139,504 1,120 (694 ) 139,930 Corporate debt 8,985 16 - 9,001 Total $ 423,330 $ 3,033 $ (3,988 ) $ 422,375 Securities Held to Maturity Mortgage-backed securities 19,164 321 (245 ) 19,240 State and municipal securities 5,888 315 (12 ) 6,191 Corporate debt 37,512 374 (15 ) 37,871 Total $ 62,564 $ 1,010 $ (272 ) $ 63,302 |
Fair Value, Assets Measured on Recurring Basis [Table Text Block] | December 31, 2017 December 31, 2016 Amortized Cost Market Value Amortized Cost Market Value (In Thousands) Debt securities available for sale Due within one year $ 22,122 $ 22,172 $ 28,270 $ 28,400 Due from one to five years 160,773 160,563 152,347 153,003 Due from five to ten years 73,362 74,684 13,870 13,782 Due after ten years 3,947 4,163 - - Mortgage-backed securities 278,177 276,498 228,843 227,190 $ 538,381 $ 538,080 $ 423,330 $ 422,375 Debt securities held to maturity Due from one to five years $ 250 $ 250 $ 250 $ 250 Due from five to ten years - - 34,251 34,617 Due after ten years - - 8,899 9,195 Mortgage-backed securities - - 19,164 19,240 $ 250 $ 250 $ 62,564 $ 63,302 |
Gain (Loss) on Investments [Table Text Block] | Less Than Twelve Months Twelve Months or More Total Gross Gross Gross Unrealized Unrealized Unrealized Losses Fair Value Losses Fair Value Losses Fair Value (In Thousands) December 31, 2017 U.S. Treasury and government sponsored agencies $ (151 ) $ 33,401 $ (98 ) $ 2,926 $ (249 ) $ 36,327 Mortgage-backed securities (986 ) 140,432 (1,699 ) 75,903 (2,685 ) 216,335 State and municipal securities (450 ) 66,637 (103 ) 6,648 (553 ) 73,285 Corporate debt (35 ) 6,955 - - (35 ) 6,955 Total $ (1,622 ) $ 247,425 $ (1,900 ) $ 85,477 $ (3,522 ) $ 332,902 December 31, 2016 U.S. Treasury and government sponsored agencies $ (126 ) $ 10,865 $ - $ - $ (126 ) $ 10,865 Mortgage-backed securities (3,413 ) 174,225 - - (3,413 ) 174,225 State and municipal securities (698 ) 64,502 (8 ) 1,021 (706 ) 65,523 Corporate debt (15 ) 3,034 - - (15 ) 3,034 Total $ (4,252 ) $ 252,626 $ (8 ) $ 1,021 $ (4,260 ) $ 253,647 |
Available-for-sale Securities [Table Text Block] | Years Ended December 31, 2017 2016 2015 (In Thousands) Sale proceeds $ - $ 6,085 $ 16,738 Gross realized gains $ - $ 4 $ 29 Gross realized losses - (7 ) - Net realized gain (loss) $ - $ (3 ) $ 29 |
Note 4 - Loans (Tables)
Note 4 - Loans (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Notes Tables | |
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | December 31, 2017 2016 (In Thousands) Commercial, financial and agricultural $ 2,279,366 $ 1,982,267 Real estate - construction 580,874 335,085 Real estate - mortgage: Owner-occupied commercial 1,328,666 1,171,719 1-4 family mortgage 603,063 536,805 Other mortgage 997,079 830,683 Total real estate - mortgage 2,928,808 2,539,207 Consumer 62,213 55,211 Total Loans 5,851,261 4,911,770 Less: Allowance for loan losses (59,406 ) (51,893 ) Net Loans $ 5,791,855 $ 4,859,877 |
Schedule of Allowance for Loan Losses [Table Text Block] | Years Ended December 31, 2017 2016 2015 (In Thousands) Balance, beginning of year $ 51,893 $ 43,419 $ 35,629 Loans charged off (16,332 ) (5,198 ) (5,744 ) Recoveries 620 274 687 Provision for loan losses 23,225 13,398 12,847 Balance, end of year $ 59,406 $ 51,893 $ 43,419 |
Allowance for Credit Losses on Financing Receivables [Table Text Block] | Commercial, financial and Real estate - Real estate - agricultural construction mortgage Consumer Total (In Thousands) Year Ended December 31, 2017 Allowance for loan losses: Balance at December 31, 2016 $ 28,872 $ 5,125 $ 17,504 $ 392 $ 51,893 Charge-offs (13,910 ) (56 ) (2,056 ) (310 ) (16,332 ) Recoveries 337 168 89 26 620 Provision 17,581 (248 ) 5,485 407 23,225 Balance at December 31, 2017 $ 32,880 $ 4,989 $ 21,022 $ 515 $ 59,406 December 31, 2017 Individually Evaluated for Impairment $ 4,276 $ 120 $ 1,163 $ 50 $ 5,609 Collectively Evaluated for Impairment 28,604 4,869 19,859 465 53,797 Loans: Ending Balance $ 2,279,366 $ 580,874 $ 2,928,808 $ 62,213 $ 5,851,261 Individually Evaluated for Impairment 26,447 1,571 12,404 88 40,510 Collectively Evaluated for Impairment 2,252,919 579,303 2,916,404 62,125 5,810,751 Year Ended December 31, 2016 Allowance for loan losses: Balance at December 31, 2015 $ 21,495 $ 5,432 $ 16,061 $ 431 $ 43,419 Charge-offs (3,791 ) (815 ) (380 ) (212 ) (5,198 ) Recoveries 49 76 146 3 274 Provision 11,119 432 1,677 170 13,398 Balance at December 31, 2016 $ 28,872 $ 5,125 $ 17,504 $ 392 $ 51,893 December 31, 2016 Individually Evaluated for Impairment $ 6,607 $ 923 $ 622 $ - $ 8,152 Collectively Evaluated for Impairment 22,265 4,202 16,882 392 43,741 Loans: Ending Balance $ 1,982,267 $ 335,085 $ 2,539,207 $ 55,211 $ 4,911,770 Individually Evaluated for Impairment 27,922 4,314 13,350 3 45,589 Collectively Evaluated for Impairment 1,954,345 330,771 2,525,857 55,208 4,866,181 |
Financing Receivable Credit Quality Indicators [Table Text Block] | Special December 31, 2017 Pass Mention Substandard Doubtful Total (In Thousands) Commercial, financial and agricultural $ 2,225,084 $ 27,835 $ 26,447 $ - $ 2,279,366 Real estate - construction 572,657 6,691 1,526 - 580,874 Real estate - mortgage: Owner-occupied commercial 1,317,113 7,333 4,220 - 1,328,666 1-4 family mortgage 598,222 1,599 3,242 - 603,063 Other mortgage 976,348 18,122 2,609 - 997,079 Total real estate - mortgage 2,891,683 27,054 10,071 - 2,928,808 Consumer 62,083 42 88 - 62,213 Total $ 5,751,507 $ 61,622 $ 38,132 $ - $ 5,851,261 Special December 31, 2016 Pass Mention Substandard Doubtful Total (In Thousands) Commercial, financial and agricultural $ 1,893,664 $ 61,035 $ 27,568 $ - $ 1,982,267 Real estate - construction 324,958 5,861 4,266 - 335,085 Real estate - mortgage: Owner-occupied commercial 1,158,615 6,037 7,067 - 1,171,719 1-4 family mortgage 531,868 2,065 2,872 - 536,805 Other mortgage 818,724 11,224 735 - 830,683 Total real estate - mortgage 2,509,207 19,326 10,674 - 2,539,207 Consumer 55,135 76 - - 55,211 Total $ 4,782,964 $ 86,298 $ 42,508 $ - $ 4,911,770 |
Financing Receivable, Credit Substitute, Credit Quality Indicator [Table Text Block] | December 31, 2017 Performing Nonperforming Total (In Thousands) Commercial, financial and agricultural $ 2,269,642 $ 9,724 $ 2,279,366 Real estate - construction 580,874 - 580,874 Real estate - mortgage: Owner-occupied commercial 1,328,110 556 1,328,666 1-4 family mortgage 602,604 459 603,063 Other mortgage 997,079 - 997,079 Total real estate - mortgage 2,927,793 1,015 2,928,808 Consumer 62,127 86 62,213 Total $ 5,840,436 $ 10,825 $ 5,851,261 December 31, 2016 Performing Nonperforming Total (In Thousands) Commercial, financial and agricultural $ 1,974,975 $ 7,292 $ 1,982,267 Real estate - construction 331,817 3,268 335,085 Real estate - mortgage: Owner-occupied commercial 1,165,511 6,208 1,171,719 1-4 family mortgage 536,731 74 536,805 Other mortgage 830,683 - 830,683 Total real estate - mortgage 2,532,925 6,282 2,539,207 Consumer 55,166 45 55,211 Total $ 4,894,883 $ 16,887 $ 4,911,770 |
Past Due Financing Receivables [Table Text Block] | December 31, 2017 Past Due Status (Accruing Loans) Total Past 30-59 Days 60-89 Days 90+ Days Due Non-Accrual Current Total Loans (In Thousands) Commercial, financial and agricultural $ 1,410 $ 5,702 $ 12 $ 7,124 $ 9,712 $ 2,262,530 $ 2,279,366 Real estate - construction 56 997 - 1,053 - 579,821 580,874 Real estate - mortgage: Owner-occupied commercial - 3,664 - 3,664 556 1,324,446 1,328,666 1-4 family mortgage 430 850 - 1,280 459 601,324 603,063 Other mortgage 5,116 - - 5,116 - 991,963 997,079 Total real estate - mortgage 5,546 4,514 - 10,060 1,015 2,917,733 2,928,808 Consumer 131 23 48 202 38 61,973 62,213 Total $ 7,143 $ 11,236 $ 60 $ 18,439 $ 10,765 $ 5,822,057 $ 5,851,261 December 31, 2016 Past Due Status (Accruing Loans) Total Past 30-59 Days 60-89 Days 90+ Days Due Non-Accrual Current Total Loans (In Thousands) Commercial, financial and agricultural $ 710 $ 40 $ 10 $ 760 $ 7,282 $ 1,974,225 $ 1,982,267 Real estate - construction 59 - - 59 3,268 331,758 335,085 Real estate - mortgage: Owner-occupied commercial - - 6,208 6,208 - 1,165,511 1,171,719 1-4 family mortgage 160 129 - 289 74 536,442 536,805 Other mortgage 95 811 - 906 - 829,777 830,683 Total real estate - mortgage 255 940 6,208 7,403 74 2,531,730 2,539,207 Consumer 52 17 45 114 - 55,097 55,211 Total $ 1,076 $ 997 $ 6,263 $ 8,336 $ 10,624 $ 4,892,810 $ 4,911,770 |
Impaired Financing Receivables [Table Text Block] | Unpaid Average Interest Income Recorded Principal Related Recorded Recognized Investment Balance Allowance Investment in Period (In Thousands) With no allowance recorded: Commercial, financial and agricultural $ 10,036 $ 16,639 $ - $ 16,417 $ 571 Real estate - construction 574 577 - 663 31 Real estate - mortgage: Owner-occupied commercial 2,640 2,806 - 2,875 159 1-4 family mortgage 2,262 2,262 - 2,289 93 Other mortgage 746 746 - 727 44 Total real estate - mortgage 5,648 5,814 - 5,891 296 Consumer 38 39 - 42 3 Total with no allowance recorded 16,296 23,069 - 23,013 901 With an allowance recorded: Commercial, financial and agricultural 16,411 16,992 4,276 17,912 651 Real estate - construction 997 997 120 997 56 Real estate - mortgage: Owner-occupied commercial 3,914 3,914 601 3,801 215 1-4 family mortgage 980 980 281 1,113 54 Other mortgage 1,862 1,862 281 1,862 80 Total real estate - mortgage 6,756 6,756 1,163 6,776 349 Consumer 50 50 50 42 3 Total with allowance recorded 24,214 24,795 5,609 25,727 1,059 Total Impaired Loans: Commercial, financial and agricultural 26,447 33,631 4,276 34,329 1,222 Real estate - construction 1,571 1,574 120 1,660 87 Real estate - mortgage: Owner-occupied commercial 6,554 6,720 601 6,676 374 1-4 family mortgage 3,242 3,242 281 3,402 147 Other mortgage 2,608 2,608 281 2,589 124 Total real estate - mortgage 12,404 12,570 1,163 12,667 645 Consumer 88 89 50 84 6 Total impaired loans $ 40,510 $ 47,864 $ 5,609 $ 48,740 $ 1,960 Unpaid Average Interest Income Recorded Principal Related Recorded Recognized in Investment Balance Allowance Investment Period (In Thousands) With no allowance recorded: Commercial, financial and agricultural $ 1,003 $ 1,003 $ - $ 992 $ 64 Real estate - construction 938 1,802 - 1,159 3 Real estate - mortgage: Owner-occupied commercial 2,615 2,778 - 2,884 166 1-4 family mortgage 1,899 1,899 - 1,901 102 Other mortgage 940 940 - 965 60 Total real estate - mortgage 5,454 5,617 - 5,750 328 Consumer 3 5 - 6 - Total with no allowance recorded 7,398 8,427 - 7,907 395 With an allowance recorded: Commercial, financial and agricultural 26,919 31,728 6,607 26,955 1,162 Real estate - construction 3,376 3,376 923 3,577 68 Real estate - mortgage: Owner-occupied commercial 6,924 6,924 348 6,934 362 1-4 family mortgage 972 972 274 313 19 Other mortgage - - - - - Total real estate - mortgage 7,896 7,896 622 7,247 381 Consumer - - - - - Total with allowance recorded 38,191 43,000 8,152 37,779 1,611 Total Impaired Loans: Commercial, financial and agricultural 27,922 32,731 6,607 27,947 1,226 Real estate - construction 4,314 5,178 923 4,736 71 Real estate - mortgage: Owner-occupied commercial 9,539 9,702 348 9,818 528 1-4 family mortgage 2,871 2,871 274 2,214 121 Other mortgage 940 940 - 965 60 Total real estate - mortgage 13,350 13,513 622 12,997 709 Consumer 3 5 - 6 - Total impaired loans $ 45,589 $ 51,427 $ 8,152 $ 45,686 $ 2,006 |
Troubled Debt Restructurings on Financing Receivables [Table Text Block] | Year Ended December 31, 2017 Pre- Post- Modification Modification Outstanding Outstanding Number of Recorded Recorded Contracts Investment Investment (In Thousands) Troubled Debt Restructurings Commercial, financial and agricultural 6 $ 11,438 $ 11,438 Real estate - construction 1 997 997 Real estate - mortgage: Owner-occupied commercial 2 3,664 3,664 1-4 family mortgage 1 850 850 Other mortgage - - - Total real estate - mortgage 3 4,514 4,514 Consumer - - - 10 $ 16,949 $ 16,949 Year ended December 31, 2016 Pre- Post- Modification Modification Outstanding Outstanding Number of Recorded Recorded Contracts Investment Investment Commercial, financial and agricultural 9 $ 7,099 $ 7,099 Real estate - construction - - - Real estate - mortgage: Owner-occupied commercial - - - 1-4 family mortgage - - - Other mortgage 1 234 234 Total real estate - mortgage 1 234 234 Consumer - - - 10 $ 7,333 $ 7,333 Year Ended December 31, 2017 2016 Defaulted during the period, where modified in a TDR twelve months prior to default Commercial, financial and agricultural $ - $ 6,734 Real estate - construction - - Real estate - mortgage: Owner occupied commercial - - 1-4 family mortgage - - Other mortgage - - Total real estate - mortgage - - Consumer - - $ - $ 6,734 |
Schedule of Changes in Related Party Loans [Table Text Block] | Years Ended December 31, 2017 2016 (In Thousands) Balance, beginning of year $ 10,806 $ 12,090 Advances 7,351 9,763 Repayments (9,717 ) (11,047 ) Balance, end of year $ 8,440 $ 10,806 |
Note 5 - Foreclosed Properties
Note 5 - Foreclosed Properties (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Notes Tables | |
Disclosure of Foreclosed Properties [Table Text Block] | 2017 2016 2015 (In Thousands) Balance at beginning of year $ 4,988 $ 5,392 $ 6,840 OREO acquired - - 2,348 Transfers from loans and capitalized expenses 4,685 4,112 2,210 Foreclosed properties sold (2,982 ) (3,931 ) (5,227 ) Writedowns and partial liquidations 10 (585 ) (779 ) Balance at end of year $ 6,701 $ 4,988 $ 5,392 |
Note 6 - Premises and Equipme41
Note 6 - Premises and Equipment (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Notes Tables | |
Property, Plant and Equipment [Table Text Block] | December 31, 2017 2016 (In Thousands) Land $ 5,468 $ 5,506 Building 36,259 7,817 Furniture and equipment 23,297 18,668 Leasehold improvements 9,599 7,469 Construction in progress 88 14,115 Total premises and equipment, gross 74,711 53,575 Accumulated depreciation (15,811 ) (13,261 ) Total premises and equipment, net of accumulated depreciation $ 58,900 $ 40,314 |
Schedule of Future Minimum Lease Payments for Capital Leases [Table Text Block] | (In Thousands) 2018 $ 3,093 2019 3,024 2020 3,007 2021 2,397 2022 2,384 Thereafter 3,641 Total $ 17,546 |
Note 8 - Deposits (Tables)
Note 8 - Deposits (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Notes Tables | |
Schedule Of Deposits [Table Text Block] | December 31, 2017 2016 (In Thousands) Noninterest-bearing demand $ 1,440,326 $ 1,281,605 Interest-bearing checking 4,029,147 3,562,165 Savings 50,959 48,718 Time deposits, $250,000 and under 228,540 234,157 Time deposits, over $250,000 342,702 293,666 Total $ 6,091,674 $ 5,420,311 |
Time Deposit Maturities [Table Text Block] | (In Thousands) 2018 $ 353,413 2019 96,661 2020 41,844 2021 46,862 2022 32,412 Thereafter 50 Total $ 571,242 |
Note 14 - Employee and Direct43
Note 14 - Employee and Director Benefits (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Notes Tables | |
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | 2017 2016 2015 Expected price volatility 29.00 % 29.00 % 24.00 % Expected dividend yield 0.44 % 0.64 % 0.71 % Expected term (in years) 6 6 6 Risk-free rate 2.08 % 1.85 % 1.85 % |
Share-based Compensation, Stock Options, Activity [Table Text Block] | Shares Weighted Average Exercise Price Weighted Average Remaining Contractual Term (years) Aggregate Intrinsic Value (In Thousands) Year Ended December 31, 2017: Outstanding at beginning of year 2,026,334 $ 9.00 6.2 $ 57,636 Granted 58,000 37.59 9.1 227 Exercised (385,500 ) 4.96 4.0 14,087 Forfeited (32,000 ) 21.96 8.1 625 Outstanding at end of year 1,666,834 $ 10.68 5.5 $ 51,377 Exercisable at December 31, 2017 808,236 $ 5.22 3.9 $ 29,321 Year Ended December 31, 2016: Outstanding at beginning of year 2,498,834 $ 6.66 6.3 $ 42,746 Granted 241,000 20.15 9.1 4,166 Exercised (682,500 ) 4.28 3.9 22,629 Forfeited (31,000 ) 11.04 6.8 818 Outstanding at end of year 2,026,334 $ 9.00 6.2 $ 57,636 Exercisable at December 31, 2016 928,536 $ 5.08 4.8 $ 30,051 Year Ended December 31, 2015: Outstanding at beginning of year 3,245,834 $ 4.69 5.9 $ 38,256 Granted 324,000 16.63 9.2 2,311 Exercised (1,051,000 ) 3.62 2.7 21,177 Forfeited (20,000 ) 8.40 7.1 - Outstanding at end of year 2,498,834 $ 6.66 6.3 $ 42,746 Exercisable at December 31, 2015 410,836 $ 4.84 5.4 $ 7,775 |
Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity [Table Text Block] | Range of Shares Weighted Weighted Aggregate (In Thousands) $ 4.17 145,336 $ 4.17 2.4 $ 5,426 5.00 483,500 5.00 3.8 17,648 5.50 120,000 5.50 5.2 4,320 6.92 45,000 6.92 6.0 1,556 15.74 14,400 15.74 7.1 371 808,236 5.22 3.9 $ 29,321 |
Note 16 - Regulatory Matters (T
Note 16 - Regulatory Matters (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Notes Tables | |
Schedule of Compliance with Regulatory Capital Requirements under Banking Regulations [Table Text Block] | Actual For Capital Adequacy To Be Well Capitalized Under Amount Ratio Amount Ratio Amount Ratio As of December 31, 2017: CET I Capital to Risk Weighted Assets: Consolidated $ 593,111 9.51 % $ 280,553 4.50 % N/A N/A ServisFirst Bank 651,201 10.45 % 280,523 4.50 % $ 405,199 6.50 % Tier I Capital to Risk Weighted Assets: Consolidated 593,613 9.52 % 374,070 6.00 % N/A N/A ServisFirst Bank 651,703 10.45 % 374,030 6.00 % 498,707 8.00 % Total Capital to Risk Weighted Assets: Consolidated 718,151 11.52 % 498,760 8.00 % N/A N/A ServisFirst Bank 711,609 11.42 % 498,707 8.00 % 623,384 10.00 % Tier I Capital to Average Assets: Consolidated 593,613 8.51 % 278,970 4.00 % N/A N/A ServisFirst Bank 651,703 9.35 % 278,954 4.00 % 348,693 5.00 % As of December 31, 2016: CET I Capital to Risk Weighted Assets: Consolidated $ 508,982 9.78 % $ 234,262 4.50 % N/A N/A ServisFirst Bank 560,731 10.77 % 234,232 4.50 % $ 338,335 6.50 % Tier I Capital to Risk Weighted Assets: Consolidated 509,359 9.78 % 312,350 6.00 % N/A N/A ServisFirst Bank 561,108 10.78 % 312,309 6.00 % 416,413 8.00 % Total Capital to Risk Weighted Assets: Consolidated 616,415 11.84 % 416,467 8.00 % N/A N/A ServisFirst Bank 613,501 11.79 % 416,413 8.00 % 520,516 10.00 % Tier I Capital to Average Assets: Consolidated 509,359 8.22 % 247,777 4.00 % N/A N/A ServisFirst Bank 561,108 9.06 % 247,760 4.00 % 309,700 5.00 % |
Note 17 - Other Operating Inc45
Note 17 - Other Operating Income and Expenses (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Notes Tables | |
Schedule of Other Operating Income Expenses [Table Text Block] | Years Ended December 31, 2017 2016 2015 (In Thousands) Other Operating Income ATM fee income $ 1,175 $ 1,061 $ 916 Gain (loss) on sale of other real estate owned 33 18 (136 ) Gain (loss) on sale of fixed assets 1 1,399 (27 ) Other 354 556 331 Total other operating income $ 1,563 $ 3,034 $ 1,084 Other Operating Expenses Data processing $ 5,454 $ 4,832 $ 4,293 Other loan expenses 2,170 1,510 2,086 Customer and public relations 1,695 1,594 1,211 Bank service charges 1,522 1,341 961 Sales and use tax 1,167 781 380 Write-down investment in tax credit partnerships 1,081 2,519 3,966 Telephone 990 740 680 Donations and contributions 744 769 605 Marketing 716 544 562 Supplies 595 555 492 Fraud and forgery losses 515 206 92 Directors fees 472 407 406 Postage 441 377 338 Other operational losses 167 264 126 Other 5,085 4,478 3,902 Total other operating expenses $ 22,814 $ 20,917 $ 20,100 |
Note 18 - Income Taxes (Tables)
Note 18 - Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Notes Tables | |
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | Year Ended December 31, 2017 2016 2015 (In Thousands) Current tax expense: Federal $ 27,952 $ 29,813 $ 28,517 State 2,258 1,254 1,824 Total current tax expense 30,210 31,067 30,341 Deferred tax expense (benefit): Federal 17,073 (662 ) (3,277 ) State (3,025 ) (1,066 ) (1,599 ) Total deferred tax (benefit) 14,048 (1,728 ) (4,876 ) Total income tax expense $ 44,258 $ 29,339 $ 25,465 |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | Year Ended December 31, 2017 Amount % of Pre-tax (In Thousands) Income tax at statutory federal rate $ 48,073 35.00 % Effect on rate of: State income tax, net of federal tax effect 43 0.03 % Tax-exempt income, net of expenses (1,356 ) (0.99 )% Bank owned life insurance contracts (1,096 ) (0.80 )% Excess tax benefit from stock compensation (4,278 ) (3.11 )% Federal tax credits (234 ) (0.17 )% Enacted tax rate change 3,108 2.26 % Other (2 ) - % Effective income tax and rate $ 44,258 32.22 % Year Ended December 31, 2016 Amount % of Pre-tax (In Thousands) Income tax at statutory federal rate $ 38,786 35.00 % Effect on rate of: State income tax, net of federal tax effect 254 0.23 % Tax-exempt income, net of expenses (1,322 ) (1.20 )% Bank owned life insurance contracts (978 ) (0.88 )% Excess tax benefit from stock compensation (4,788 ) (4.32 )% Federal tax credits (2,652 ) (2.40 )% Other 39 0.04 % Effective income tax and rate $ 29,339 26.47 % Year Ended December 31, 2015 Amount % of Pre-tax (In Thousands) Income tax at statutory federal rate $ 31,152 35.00 % Effect on rate of: State income tax, net of federal tax effect 146 0.16 % Tax-exempt income, net of expenses (1,308 ) (1.47 )% Bank owned life insurance contracts (917 ) (1.03 )% Incentive stock option expense 3 - % Federal tax credits (3,600 ) (4.04 )% Other (11 ) (0.01 )% Effective income tax and rate $ 25,465 28.61 % |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | December 31, 2017 2016 (In Thousands) Deferred tax assets: Allowance for loan losses $ 14,905 $ 19,699 Other real estate owned 232 737 Nonqualified equity awards 927 1,234 Nonaccrual interest 178 501 State tax credits 5,688 3,475 Investments 1,296 2,173 Deferred loan fees 866 707 Reserve for unfunded commitments 125 190 Accrued bonus 1,521 1,817 Differences in amounts reflected in financial statements and income tax basis of assets acquired and liabilities assumed in acquisition 175 448 Acquired net operating losses - 27 Net unrealized loss on securities available for sale 65 331 Other deferred tax assets 431 122 Total deferred tax assets 26,409 31,461 Deferred tax liabilities: REIT dividend 9,706 - Depreciation 3,240 3,606 Prepaid expenses 164 198 Acquired intangible assets 277 525 Total deferred tax liabilities 13,387 4,329 Net deferred tax assets $ 13,022 $ 27,132 |
Summary of Income Tax Contingencies [Table Text Block] | 2017 2016 2015 (In Thousands) Balance, beginning of year $ 1,375 $ 1,173 $ 804 Increases related to prior year tax positions 365 364 369 Decreases related to prior year tax positions - - - Increases related to current year tax positions - - - Settlements - - - Enacted tax rate change 315 - - Lapse of statute (276 ) (162 ) - Balance, end of year $ 1,779 $ 1,375 $ 1,173 |
Note 19 - Commitments and Con47
Note 19 - Commitments and Contingencies (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Notes Tables | |
Product Liability Contingencies [Table Text Block] | 2017 2016 2015 (In Thousands) Commitments to extend credit $ 1,945,171 $ 1,667,015 $ 1,409,425 Credit card arrangements 128,149 100,678 62,462 Standby letters of credit and financial guarantees 41,654 40,991 38,224 Total $ 2,114,974 $ 1,808,684 $ 1,510,111 |
Note 21 - Earnings Per Common48
Note 21 - Earnings Per Common Share (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Year Ended December 31, 2017 2016 2015 (Dollar Amounts In Thousands Except Per Share Amounts) Earnings Per Share Weighted average common shares outstanding 52,887,359 52,450,896 51,426,466 Net income available to common stockholders $ 93,030 $ 81,432 $ 63,260 Basic earnings per common share $ 1.76 1.55 $ 1.23 Weighted average common shares outstanding 52,887,359 52,450,896 51,426,466 Dilutive effects of assumed conversions and exercise of stock options and warrants 1,236,598 1,157,476 1,458,642 Weighted average common and dilutive potential common shares outstanding 54,123,957 53,608,372 52,885,108 Net income available to common stockholders $ 93,030 $ 81,432 $ 63,260 Diluted earnings per common share $ 1.72 $ 1.52 $ 1.20 |
Note 23 - Fair Value Measurem49
Note 23 - Fair Value Measurement (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Notes Tables | |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | Fair Value Measurements at December 31, 2017 Using Quoted Prices in Active Markets Significant Other Significant for Identical Observable Inputs Unobservable Assets (Level 1) (Level 2) Inputs (Level 3) Total Assets Measured on a Recurring Basis: (In Thousands) Available-for-sale securities: U.S. Treasury and government sponsored agencies $ - $ 55,356 $ - $ 55,356 Mortgage-backed securities - 276,498 - 276,498 State and municipal securities - 134,849 - 134,849 Corporate debt - 64,877 6,500 71,377 Total assets at fair value $ - $ 531,580 $ 6,500 $ 538,080 Fair Value Measurements at December 31, 2016 Using Quoted Prices in Active Markets Significant Other Significant for Identical Observable Inputs Unobservable Assets (Level 1) (Level 2) Inputs (Level 3) Total Assets Measured on a Recurring Basis: (In Thousands) Available-for-sale securities U.S. Treasury and government sponsored agencies $ - $ 46,254 $ - $ 46,254 Mortgage-backed securities - 227,190 - 227,190 State and municipal securities - 139,930 - 139,930 Corporate debt - 9,001 - 9,001 Total assets at fair value $ - $ 422,375 $ - $ 422,375 |
Fair Value Measurements, Nonrecurring [Table Text Block] | Fair Value Measurements at December 31, 2017 Using Quoted Prices in Active Markets Significant Other Significant for Identical Observable Unobservable Assets (Level 1) Inputs (Level 2) Inputs (Level 3) Total Assets Measured on a Nonrecurring Basis: (In Thousands) Impaired loans $ - - $ 34,901 $ 34,901 Other real estate owned and repossessed assets - - 6,701 6,701 Total assets at fair value - - $ 41,602 $ 41,602 Fair Value Measurements at December 31, 2016 Using Quoted Prices in Active Markets Significant Other Significant for Identical Observable Unobservable Assets (Level 1) Inputs (Level 2) Inputs (Level 3) Total Assets Measured on a Nonrecurring Basis: (In Thousands) Impaired loans $ - $ - $ 37,437 $ 37,437 Other real estate owned - - 4,988 4,988 Total assets at fair value $ - $ - $ 42,425 $ 42,425 |
Fair Value, by Balance Sheet Grouping [Table Text Block] | December 31, 2017 2016 Carrying Amount Fair Value Carrying Amount Fair Value (In Thousands) Financial Assets: Level 1 Inputs: Cash and cash equivalents $ 238,062 $ 238,062 $ 623,562 $ 623,562 Level 2 Inputs: Debt securities available for sale $ 531,580 $ 531,580 $ 422,375 $ 422,375 Debt securities held to maturity - - 25,052 25,431 Equity securities 1,034 1,034 1,024 1,024 Federal funds sold 239,524 239,524 160,435 160,435 Mortgage loans held for sale 4,459 4,459 4,675 4,736 Bank owned life insurance contracts 127,519 127,519 114,388 114,388 Level 3 Inputs: Debt securities available for sale $ 6,500 $ 6,500 $ - $ - Debt securities held to maturity 250 250 37,512 37,871 Loans, net 5,791,855 5,747,342 4,859,877 4,872,689 Financial Liabilities: Level 2 Inputs: Deposits $ 6,091,674 $ 6,086,085 $ 5,420,311 $ 5,417,320 Federal funds purchased 301,797 301,797 355,944 355,944 Other borrowings 64,832 65,921 55,262 54,203 |
Note 24 - Parent Company Fina50
Note 24 - Parent Company Financial Information (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Notes Tables | |
Condensed Balance Sheet [Table Text Block] | December 31, 2017 December 31, 2016 ASSETS Cash and due from banks $ 9,891 $ 6,060 Investment in subsidiary 665,192 574,261 Other assets 368 375 Total assets $ 675,451 $ 580,696 LIABILITIES AND STOCKHOLDERS' EQUITY Liabilities: Other borrowings $ 64,632 $ 54,663 Other liabilities 3,717 3,521 Total liabilities 68,349 58,184 Stockholders' equity: Preferred stock, Series A Senior Non-Cumulative Perpetual, par value $0.001 (liquidation preference $1,000), net of discount; no shares authorized, issued and outstanding at December 31, 2017, and December 31, 2016 - - Preferred stock, par value $0.001 per share; 1,000,000 authorized and undesignated at December 31, 2017 and December 31, 2016 - - Common stock, par value $0.001 per share; 100,000,000 shares authorized; 52,992,586 shares issued and outstanding at December 31, 2017 and 52,636,896 shares issued and outstanding at December 31, 2016 53 53 Additional paid-in capital 217,693 215,932 Retained earnings 389,554 307,151 Accumulated other comprehensive (loss) income (198 ) (624 ) Total stockholders' equity 607,102 522,512 Total liabilities and stockholders' equity $ 675,451 $ 580,696 |
Condensed Income Statement [Table Text Block] | 2017 2016 2015 Income: Dividends received from subsidiary $ 6,500 $ 2,500 $ 20,000 Other income 2 2 1 Total income 6,502 2,502 20,001 Expense: Other expenses 2,260 2,208 1,603 Total expenses 2,260 2,208 1,603 Equity in undistributed earnings of subsidiary 88,788 81,138 45,095 Net income 93,030 81,432 63,493 Dividends on preferred stock - - 233 Net income available to common stockholders $ 93,030 $ 81,432 $ 63,260 |
Condensed Cash Flow Statement [Table Text Block] | 2017 2016 2015 Operating activities Net income $ 93,030 $ 81,432 $ 63,493 Adjustments to reconcile net income to net cash used in operating activities: Other (314 ) 1,442 (271 ) Equity in undistributed earnings of subsidiary (88,788 ) (81,138 ) (45,095 ) Net cash provided by operating activities 3,928 1,736 18,127 Investing activities Investment in subsidiary - (36,000 ) - Net cash paid in acquisition - - (20,926 ) Other - - 736 Net cash used in investing activities - (36,000 ) (20,190 ) Financing activities Proceeds from issuance of subordinated notes 29,943 - 34,750 Redemption of subordinated notes (20,000 ) - - Redemption of preferred stock - - (40,000 ) Dividends paid on common stock (10,040 ) (7,858 ) (5,883 ) Dividends paid on preferred stock - - (233 ) Net cash provided by financing activities (97 ) (7,858 ) (11,366 ) Increase (decrease) in cash and cash equivalents 3,831 (42,122 ) (13,429 ) Cash and cash equivalents at beginning of year 6,060 48,182 61,611 Cash and cash equivalents at end of year $ 9,891 $ 6,060 $ 48,182 |
Note 26 - Quarterly Financial51
Note 26 - Quarterly Financial Data (Unaudited) (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Notes Tables | |
Quarterly Financial Information [Table Text Block] | 2017 Quarter Ended (Dollars in thousands, except per share data) March 31 June 30 September 30 December 31 Interest income $ 59,517 $ 63,538 $ 67,641 $ 72,060 Interest expense 7,465 7,971 9,245 10,652 Net interest income 52,052 55,567 58,396 61,408 Provision for loan losses 4,986 4,381 4,803 9,055 Net income available to common stockholders 22,519 24,133 25,259 21,119 Net income per common share, basic $ 0.42 $ 0.46 $ 0.48 $ 0.40 Net income per common share, diluted $ 0.41 $ 0.45 $ 0.47 $ 0.39 2016 Quarter Ended (Dollars in thousands, except per share data) March 31 June 30 September 30 December 31 Interest income $ 49,961 $ 52,050 $ 54,691 $ 56,200 Interest expense 5,782 6,159 6,773 7,091 Net interest income 44,179 45,891 47,918 49,109 Provision for loan losses 2,059 3,800 3,464 4,075 Net income available to common stockholders 19,956 18,853 20,909 21,714 Net income per common share, basic $ 0.38 $ 0.36 $ 0.40 $ 0.41 Net income per common share, diluted $ 0.37 $ 0.36 $ 0.39 $ 0.40 |
Note 1 - Summary of Significa52
Note 1 - Summary of Significant Accounting Policies (Details Textual) - USD ($) | 12 Months Ended | |||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Number of Reporting Units | 1 | |||
Unrecognized Tax Benefits Threshold Percentage | 50.00% | |||
Advertising Expense | $ 716,000 | $ 544,000 | $ 562,000 | |
Income Tax Expense (Benefit) | 44,258,000 | 29,339,000 | $ 25,465,000 | |
Accumulated Other Comprehensive Income (Loss), Net of Tax | $ 198,000 | $ 624,000 | ||
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 35.00% | 35.00% | 35.00% | |
Retained Earnings (Accumulated Deficit) | $ 389,554,000 | $ 307,151,000 | ||
Scenario, Forecast [Member] | ||||
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 21.00% | |||
Accounting Standards Update 2016-09 [Member] | ||||
Income Tax Expense (Benefit) | (4,600,000) | (4,800,000) | ||
Adjustments for New Accounting Principle, Early Adoption [Member] | ||||
Accumulated Other Comprehensive Income (Loss), Net of Tax | 43,000 | |||
Retained Earnings (Accumulated Deficit) | $ 43,000 | |||
Metro Bancshares, Inc [Member] | ||||
Finite-Lived Intangible Assets, Remaining Amortization Period | 7 years | |||
Goodwill | $ 13,600,000 | |||
Minimum [Member] | ||||
Property, Plant and Equipment, Useful Life | 3 years | |||
Maximum [Member] | ||||
Property, Plant and Equipment, Useful Life | 39 years 182 days | |||
Federal Reserve Bank [Member] | ||||
Cash Reserve Deposit Required and Made | $ 51,800,000 | $ 39,200,000 |
Note 2 - Acquisition (Details T
Note 2 - Acquisition (Details Textual) - Metro Bancshares, Inc [Member] $ in Millions | Jan. 31, 2015USD ($)shares |
Payments to Acquire Businesses, Gross | $ 20.9 |
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares | shares | 1,273,184 |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Acquired During Period, at Acquisition, at Fair Value | $ 5.1 |
Note 3 - Debt Securities (Detai
Note 3 - Debt Securities (Details Textual) | 12 Months Ended | ||
Dec. 31, 2017USD ($) | Dec. 31, 2016USD ($) | Dec. 31, 2015USD ($) | |
Other than Temporary Impairment Losses, Investments, Available-for-sale Securities | $ 0 | $ 0 | $ 0 |
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Greater than or Equal to One Year | 72 | ||
Available for Sale Securities Debt Securities, Number of Positions | 796 | ||
Carrying Value of Investment Securities Pledged | $ 284,200,000 | 246,000,000 | |
Common Stock [Member] | |||
Restricted Investments | 100,000 | 100,000 | |
Federal Home Loan Bank Of Atlanta Stock [Member] | |||
Restricted Investments | 30,000 | 30,000 | |
First National Bankers Bank Stock [Member] | |||
Restricted Investments | 400,000 | 400,000 | |
CRA-Qualified Mutual Fund [Member] | |||
Restricted Investments | $ 500,000 | $ 500,000 |
Note 3 - Debt Securities - Amor
Note 3 - Debt Securities - Amortized Cost and Fair Value of Available for Sale and Held to Maturity Securities (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Available for sale, amortized cost | $ 538,381 | $ 423,330 |
Available for sale, gross unrealized gain | 3,221 | 3,033 |
Available for sale, gross unrealized loss | (3,522) | (3,988) |
Available for sale, fair value | 538,080 | 422,375 |
Held to maturity, amortized cost | 250 | 62,564 |
Held to maturity, gross unrealized gain | 1,010 | |
Held to maturity, gross unrealized loss | 272 | |
Held to maturity debt securities, fair value | 250 | 63,302 |
Available for sale, gross unrealized loss | 3,522 | 3,988 |
Held to maturity, gross unrealized loss | (272) | |
US Treasury and Government [Member] | ||
Available for sale, amortized cost | 55,567 | 45,998 |
Available for sale, gross unrealized gain | 38 | 382 |
Available for sale, gross unrealized loss | (249) | (126) |
Available for sale, fair value | 55,356 | 46,254 |
Available for sale, gross unrealized loss | 249 | 126 |
Collateralized Mortgage Backed Securities [Member] | ||
Available for sale, amortized cost | 278,177 | 228,843 |
Available for sale, gross unrealized gain | 1,006 | 1,515 |
Available for sale, gross unrealized loss | (2,685) | (3,168) |
Available for sale, fair value | 276,498 | 227,190 |
Held to maturity, amortized cost | 19,164 | |
Held to maturity, gross unrealized gain | 321 | |
Held to maturity, gross unrealized loss | 245 | |
Held to maturity debt securities, fair value | 19,240 | |
Available for sale, gross unrealized loss | 2,685 | 3,168 |
Held to maturity, gross unrealized loss | (245) | |
US States and Political Subdivisions Debt Securities [Member] | ||
Available for sale, amortized cost | 134,641 | 139,504 |
Available for sale, gross unrealized gain | 761 | 1,120 |
Available for sale, gross unrealized loss | (553) | (694) |
Available for sale, fair value | 134,849 | 139,930 |
Held to maturity, amortized cost | 250 | 5,888 |
Held to maturity, gross unrealized gain | 315 | |
Held to maturity, gross unrealized loss | 12 | |
Held to maturity debt securities, fair value | 250 | 6,191 |
Available for sale, gross unrealized loss | 553 | 694 |
Held to maturity, gross unrealized loss | (12) | |
Corporate Debt Securities [Member] | ||
Available for sale, amortized cost | 69,996 | 8,985 |
Available for sale, gross unrealized gain | 1,416 | 16 |
Available for sale, gross unrealized loss | (35) | |
Available for sale, fair value | 71,377 | 9,001 |
Held to maturity, amortized cost | 37,512 | |
Held to maturity, gross unrealized gain | 374 | |
Held to maturity, gross unrealized loss | 15 | |
Held to maturity debt securities, fair value | 37,871 | |
Available for sale, gross unrealized loss | $ 35 | |
Held to maturity, gross unrealized loss | $ (15) |
Note 3 - Debt Securities - Am56
Note 3 - Debt Securities - Amortized Cost and Fair Value of Contractual Securities (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Available for sale, amortized cost | $ 538,381 | $ 423,330 |
Available for sale, fair value | 538,080 | 422,375 |
Held to maturity, amortized cost | 250 | 62,564 |
Held to maturity debt securities, fair value | 250 | 63,302 |
Due Within One Year [Member] | ||
Available for sale, amortized cost | 22,122 | 28,270 |
Available for sale, fair value | 22,172 | 28,400 |
Due from One to Five Years [Member] | ||
Available for sale, amortized cost | 160,773 | 152,347 |
Available for sale, fair value | 160,563 | 153,003 |
Held to maturity, amortized cost | 250 | 250 |
Held to maturity debt securities, fair value | 250 | 250 |
Due from Five to Ten Years [Member] | ||
Available for sale, amortized cost | 73,362 | 13,870 |
Available for sale, fair value | 74,684 | 13,782 |
Held to maturity, amortized cost | 34,251 | |
Held to maturity debt securities, fair value | 34,617 | |
Due After Ten Years [Member] | ||
Available for sale, amortized cost | 3,947 | |
Available for sale, fair value | 4,163 | |
Held to maturity, amortized cost | 8,899 | |
Held to maturity debt securities, fair value | 9,195 | |
Collateralized Mortgage Backed Securities [Member] | ||
Available for sale, amortized cost | 278,177 | 228,843 |
Available for sale, fair value | 276,498 | 227,190 |
Held to maturity, amortized cost | 19,164 | |
Held to maturity debt securities, fair value | $ 19,240 |
Note 3 - Debt Securities - Inve
Note 3 - Debt Securities - Investment Securities Continuous Unrealized Loss Position (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Less Than Twelve Months, Gross Unrealized Losses | $ (1,622) | $ (4,252) |
Less Than Twelve Months, Fair Value | 247,425 | 252,626 |
Twelve Months or More, Gross Unrealized Losses | (1,900) | (8) |
Twelve Months or More, Fair Value | 85,477 | 1,021 |
Total, Gross Unrealized Losses | (3,522) | (4,260) |
Total, Fair Value | 332,902 | 253,647 |
US Treasury and Government [Member] | ||
Less Than Twelve Months, Gross Unrealized Losses | (151) | (126) |
Less Than Twelve Months, Fair Value | 33,401 | 10,865 |
Twelve Months or More, Gross Unrealized Losses | (98) | |
Twelve Months or More, Fair Value | 2,926 | |
Total, Gross Unrealized Losses | (249) | (126) |
Total, Fair Value | 36,327 | 10,865 |
Collateralized Mortgage Backed Securities [Member] | ||
Less Than Twelve Months, Gross Unrealized Losses | (986) | (3,413) |
Less Than Twelve Months, Fair Value | 140,432 | 174,225 |
Twelve Months or More, Gross Unrealized Losses | (1,699) | |
Twelve Months or More, Fair Value | 75,903 | |
Total, Gross Unrealized Losses | (2,685) | (3,413) |
Total, Fair Value | 216,335 | 174,225 |
US States and Political Subdivisions Debt Securities [Member] | ||
Less Than Twelve Months, Gross Unrealized Losses | (450) | (698) |
Less Than Twelve Months, Fair Value | 66,637 | 64,502 |
Twelve Months or More, Gross Unrealized Losses | (103) | (8) |
Twelve Months or More, Fair Value | 6,648 | 1,021 |
Total, Gross Unrealized Losses | (553) | (706) |
Total, Fair Value | 73,285 | 65,523 |
Corporate Debt Securities [Member] | ||
Less Than Twelve Months, Gross Unrealized Losses | (35) | (15) |
Less Than Twelve Months, Fair Value | 6,955 | 3,034 |
Twelve Months or More, Gross Unrealized Losses | ||
Twelve Months or More, Fair Value | ||
Total, Gross Unrealized Losses | (35) | (15) |
Total, Fair Value | $ 6,955 | $ 3,034 |
Note 3 - Debt Securities - Summ
Note 3 - Debt Securities - Summary Information About Sales of Debt Securities Available for Sale (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Sale proceeds | $ 6,085 | $ 16,738 | |
Gross realized gains | 4 | 29 | |
Gross realized losses | (7) | ||
Net realized gain (loss) | $ (3) | $ 29 |
Note 4 - Loans (Details Textual
Note 4 - Loans (Details Textual) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Financing Receivable, Modifications, Recorded Investment | $ 20.6 | $ 7.3 |
Financing Receivables, Impaired, Troubled Debt Restructuring, Write-down | $ 4.3 | $ 2.3 |
Note 4 - Loans - Summary of Loa
Note 4 - Loans - Summary of Loans (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 |
Financing receivable, gross | $ 5,851,261 | $ 4,911,770 | ||
Less allowance for loan losses | (59,406) | (51,893) | $ (43,419) | $ (35,629) |
Net Loans | 5,791,855 | 4,859,877 | ||
Commercial Real Estate Portfolio Segment [Member] | ||||
Financing receivable, gross | 2,279,366 | 1,982,267 | ||
Less allowance for loan losses | (32,880) | (28,872) | (21,495) | |
Real Estate Portfolio Segment[Member] | ||||
Financing receivable, gross | 2,928,808 | 2,539,207 | ||
Real Estate Portfolio Segment[Member] | Construction Loans [Member] | ||||
Financing receivable, gross | 580,874 | 335,085 | ||
Less allowance for loan losses | (4,989) | (5,125) | (5,432) | |
Real Estate Portfolio Segment[Member] | Owner Occupied Commercial [Member] | ||||
Financing receivable, gross | 1,328,666 | 1,171,719 | ||
Real Estate Portfolio Segment[Member] | One to Four Family [Member] | ||||
Financing receivable, gross | 603,063 | 536,805 | ||
Real Estate Portfolio Segment[Member] | Other Mortgages [Member] | ||||
Financing receivable, gross | 997,079 | 830,683 | ||
Consumer Portfolio Segment [Member] | ||||
Financing receivable, gross | 62,213 | 55,211 | ||
Less allowance for loan losses | $ (515) | $ (392) | $ (431) |
Note 4 - Loans - Allowance for
Note 4 - Loans - Allowance for Loan Losses (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Balance, beginning of year | $ 51,893 | $ 43,419 | $ 35,629 |
Loans charged off | (16,332) | (5,198) | (5,744) |
Recoveries | (620) | (274) | (687) |
Provision for loan losses | (23,225) | (13,398) | (12,847) |
Balance, end of year | $ 59,406 | $ 51,893 | $ 43,419 |
Note 4 - Loans - Analysis of Al
Note 4 - Loans - Analysis of Allowance for Loans Losses by Portfolio Segment (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Balance, beginning of year | $ 51,893 | $ 43,419 | $ 35,629 |
Charge-offs | (16,332) | (5,198) | (5,744) |
Recoveries | 620 | 274 | 687 |
Provision | 23,225 | 13,398 | 12,847 |
Balance, end of year | 59,406 | 51,893 | 43,419 |
Individually Evaluated for Impairment | 5,609 | 8,152 | |
Collectively Evaluated for Impairment | 53,797 | 43,741 | |
Loans | 5,851,261 | 4,911,770 | |
Individually Evaluated for Impairment | 40,510 | 45,589 | |
Collectively Evaluated for Impairment | 5,810,751 | 4,866,181 | |
Commercial Real Estate Portfolio Segment [Member] | |||
Balance, beginning of year | 28,872 | 21,495 | |
Charge-offs | (13,910) | (3,791) | |
Recoveries | 337 | 49 | |
Provision | 17,581 | 11,119 | |
Balance, end of year | 32,880 | 28,872 | 21,495 |
Individually Evaluated for Impairment | 4,276 | 6,607 | |
Collectively Evaluated for Impairment | 28,604 | 22,265 | |
Loans | 2,279,366 | 1,982,267 | |
Individually Evaluated for Impairment | 26,447 | 27,922 | |
Collectively Evaluated for Impairment | 2,252,919 | 1,954,345 | |
Real Estate Portfolio Segment[Member] | |||
Loans | 2,928,808 | 2,539,207 | |
Real Estate Portfolio Segment[Member] | Construction Loans [Member] | |||
Balance, beginning of year | 5,125 | 5,432 | |
Charge-offs | (56) | (815) | |
Recoveries | 168 | 76 | |
Provision | (248) | 432 | |
Balance, end of year | 4,989 | 5,125 | 5,432 |
Individually Evaluated for Impairment | 120 | 923 | |
Collectively Evaluated for Impairment | 4,869 | 4,202 | |
Loans | 580,874 | 335,085 | |
Individually Evaluated for Impairment | 1,571 | 4,314 | |
Collectively Evaluated for Impairment | 579,303 | 330,771 | |
Real Estate Portfolio Segment[Member] | Real Estate Loan [Member] | |||
Balance, beginning of year | 17,504 | 16,061 | |
Charge-offs | (2,056) | (380) | |
Recoveries | 89 | 146 | |
Provision | 5,485 | 1,677 | |
Balance, end of year | 21,022 | 17,504 | 16,061 |
Individually Evaluated for Impairment | 1,163 | 622 | |
Collectively Evaluated for Impairment | 19,859 | 16,882 | |
Loans | 2,928,808 | 2,539,207 | |
Individually Evaluated for Impairment | 12,404 | 13,350 | |
Collectively Evaluated for Impairment | 2,916,404 | 2,525,857 | |
Consumer Portfolio Segment [Member] | |||
Balance, beginning of year | 392 | 431 | |
Charge-offs | (310) | (212) | |
Recoveries | 26 | 3 | |
Provision | 407 | 170 | |
Balance, end of year | 515 | 392 | $ 431 |
Individually Evaluated for Impairment | 50 | ||
Collectively Evaluated for Impairment | 465 | 392 | |
Loans | 62,213 | 55,211 | |
Individually Evaluated for Impairment | 88 | 3 | |
Collectively Evaluated for Impairment | $ 62,125 | $ 55,208 |
Note 4 - Loans - Loans by Credi
Note 4 - Loans - Loans by Credit Quality Indicator (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Financing receivable, gross | $ 5,851,261 | $ 4,911,770 |
Pass [Member] | ||
Financing receivable, gross | 5,751,507 | 4,782,964 |
Special Mention [Member] | ||
Financing receivable, gross | 61,622 | 86,298 |
Substandard [Member] | ||
Financing receivable, gross | 38,132 | 42,508 |
Doubtful [Member] | ||
Financing receivable, gross | ||
Commercial Real Estate Portfolio Segment [Member] | ||
Financing receivable, gross | 2,279,366 | 1,982,267 |
Commercial Real Estate Portfolio Segment [Member] | Pass [Member] | ||
Financing receivable, gross | 2,225,084 | 1,893,664 |
Commercial Real Estate Portfolio Segment [Member] | Special Mention [Member] | ||
Financing receivable, gross | 27,835 | 61,035 |
Commercial Real Estate Portfolio Segment [Member] | Substandard [Member] | ||
Financing receivable, gross | 26,447 | 27,568 |
Commercial Real Estate Portfolio Segment [Member] | Doubtful [Member] | ||
Financing receivable, gross | ||
Real Estate Portfolio Segment[Member] | ||
Financing receivable, gross | 2,928,808 | 2,539,207 |
Real Estate Portfolio Segment[Member] | Construction Loans [Member] | ||
Financing receivable, gross | 580,874 | 335,085 |
Real Estate Portfolio Segment[Member] | Owner Occupied Commercial [Member] | ||
Financing receivable, gross | 1,328,666 | 1,171,719 |
Real Estate Portfolio Segment[Member] | One to Four Family [Member] | ||
Financing receivable, gross | 603,063 | 536,805 |
Real Estate Portfolio Segment[Member] | Other Mortgages [Member] | ||
Financing receivable, gross | 997,079 | 830,683 |
Real Estate Portfolio Segment[Member] | Pass [Member] | ||
Financing receivable, gross | 2,891,683 | 2,509,207 |
Real Estate Portfolio Segment[Member] | Pass [Member] | Construction Loans [Member] | ||
Financing receivable, gross | 572,657 | 324,958 |
Real Estate Portfolio Segment[Member] | Pass [Member] | Owner Occupied Commercial [Member] | ||
Financing receivable, gross | 1,317,113 | 1,158,615 |
Real Estate Portfolio Segment[Member] | Pass [Member] | One to Four Family [Member] | ||
Financing receivable, gross | 598,222 | 531,868 |
Real Estate Portfolio Segment[Member] | Pass [Member] | Other Mortgages [Member] | ||
Financing receivable, gross | 976,348 | 818,724 |
Real Estate Portfolio Segment[Member] | Special Mention [Member] | ||
Financing receivable, gross | 27,054 | 19,326 |
Real Estate Portfolio Segment[Member] | Special Mention [Member] | Construction Loans [Member] | ||
Financing receivable, gross | 6,691 | 5,861 |
Real Estate Portfolio Segment[Member] | Special Mention [Member] | Owner Occupied Commercial [Member] | ||
Financing receivable, gross | 7,333 | 6,037 |
Real Estate Portfolio Segment[Member] | Special Mention [Member] | One to Four Family [Member] | ||
Financing receivable, gross | 1,599 | 2,065 |
Real Estate Portfolio Segment[Member] | Special Mention [Member] | Other Mortgages [Member] | ||
Financing receivable, gross | 18,122 | 11,224 |
Real Estate Portfolio Segment[Member] | Substandard [Member] | ||
Financing receivable, gross | 10,071 | 10,674 |
Real Estate Portfolio Segment[Member] | Substandard [Member] | Construction Loans [Member] | ||
Financing receivable, gross | 1,526 | 4,266 |
Real Estate Portfolio Segment[Member] | Substandard [Member] | Owner Occupied Commercial [Member] | ||
Financing receivable, gross | 4,220 | 7,067 |
Real Estate Portfolio Segment[Member] | Substandard [Member] | One to Four Family [Member] | ||
Financing receivable, gross | 3,242 | 2,872 |
Real Estate Portfolio Segment[Member] | Substandard [Member] | Other Mortgages [Member] | ||
Financing receivable, gross | 2,609 | 735 |
Real Estate Portfolio Segment[Member] | Doubtful [Member] | ||
Financing receivable, gross | ||
Real Estate Portfolio Segment[Member] | Doubtful [Member] | Construction Loans [Member] | ||
Financing receivable, gross | ||
Real Estate Portfolio Segment[Member] | Doubtful [Member] | Owner Occupied Commercial [Member] | ||
Financing receivable, gross | ||
Real Estate Portfolio Segment[Member] | Doubtful [Member] | One to Four Family [Member] | ||
Financing receivable, gross | ||
Real Estate Portfolio Segment[Member] | Doubtful [Member] | Other Mortgages [Member] | ||
Financing receivable, gross | ||
Consumer Portfolio Segment [Member] | ||
Financing receivable, gross | 62,213 | 55,211 |
Consumer Portfolio Segment [Member] | Pass [Member] | ||
Financing receivable, gross | 62,083 | 55,135 |
Consumer Portfolio Segment [Member] | Special Mention [Member] | ||
Financing receivable, gross | 42 | 76 |
Consumer Portfolio Segment [Member] | Substandard [Member] | ||
Financing receivable, gross | 88 | |
Consumer Portfolio Segment [Member] | Doubtful [Member] | ||
Financing receivable, gross |
Note 4 - Loans - Loans by Perfo
Note 4 - Loans - Loans by Performance Status (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Financing receivable, gross | $ 5,851,261 | $ 4,911,770 |
Performing Financial Instruments [Member] | ||
Financing receivable, gross | 5,840,436 | 4,894,883 |
Nonperforming Financial Instruments [Member] | ||
Financing receivable, gross | 10,825 | 16,887 |
Commercial Real Estate Portfolio Segment [Member] | ||
Financing receivable, gross | 2,279,366 | 1,982,267 |
Commercial Real Estate Portfolio Segment [Member] | Performing Financial Instruments [Member] | ||
Financing receivable, gross | 2,269,642 | 1,974,975 |
Commercial Real Estate Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | ||
Financing receivable, gross | 9,724 | 7,292 |
Real Estate Portfolio Segment[Member] | ||
Financing receivable, gross | 2,928,808 | 2,539,207 |
Real Estate Portfolio Segment[Member] | Construction Loans [Member] | ||
Financing receivable, gross | 580,874 | 335,085 |
Real Estate Portfolio Segment[Member] | Owner Occupied Commercial [Member] | ||
Financing receivable, gross | 1,328,666 | 1,171,719 |
Real Estate Portfolio Segment[Member] | One to Four Family [Member] | ||
Financing receivable, gross | 603,063 | 536,805 |
Real Estate Portfolio Segment[Member] | Other Mortgages [Member] | ||
Financing receivable, gross | 997,079 | 830,683 |
Real Estate Portfolio Segment[Member] | Performing Financial Instruments [Member] | ||
Financing receivable, gross | 2,927,793 | 2,532,925 |
Real Estate Portfolio Segment[Member] | Performing Financial Instruments [Member] | Construction Loans [Member] | ||
Financing receivable, gross | 580,874 | 331,817 |
Real Estate Portfolio Segment[Member] | Performing Financial Instruments [Member] | Owner Occupied Commercial [Member] | ||
Financing receivable, gross | 1,328,110 | 1,165,511 |
Real Estate Portfolio Segment[Member] | Performing Financial Instruments [Member] | One to Four Family [Member] | ||
Financing receivable, gross | 602,604 | 536,731 |
Real Estate Portfolio Segment[Member] | Performing Financial Instruments [Member] | Other Mortgages [Member] | ||
Financing receivable, gross | 997,079 | 830,683 |
Real Estate Portfolio Segment[Member] | Nonperforming Financial Instruments [Member] | ||
Financing receivable, gross | 1,015 | 6,282 |
Real Estate Portfolio Segment[Member] | Nonperforming Financial Instruments [Member] | Construction Loans [Member] | ||
Financing receivable, gross | 3,268 | |
Real Estate Portfolio Segment[Member] | Nonperforming Financial Instruments [Member] | Owner Occupied Commercial [Member] | ||
Financing receivable, gross | 556 | 6,208 |
Real Estate Portfolio Segment[Member] | Nonperforming Financial Instruments [Member] | One to Four Family [Member] | ||
Financing receivable, gross | 459 | 74 |
Real Estate Portfolio Segment[Member] | Nonperforming Financial Instruments [Member] | Other Mortgages [Member] | ||
Financing receivable, gross | ||
Consumer Portfolio Segment [Member] | ||
Financing receivable, gross | 62,213 | 55,211 |
Consumer Portfolio Segment [Member] | Performing Financial Instruments [Member] | ||
Financing receivable, gross | 62,127 | 55,166 |
Consumer Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | ||
Financing receivable, gross | $ 86 | $ 45 |
Note 4 - Loans - Loans Categori
Note 4 - Loans - Loans Categorized by Past Due Status (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Accrual loans, past due | $ 18,439 | $ 8,336 |
Non-accrual | 10,765 | 10,624 |
Current | 5,822,057 | 4,892,810 |
Loans | 5,851,261 | 4,911,770 |
Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Accrual loans, past due | 7,143 | 1,076 |
Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Accrual loans, past due | 11,236 | 997 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Accrual loans, past due | 60 | 6,263 |
Commercial Real Estate Portfolio Segment [Member] | ||
Accrual loans, past due | 7,124 | 760 |
Non-accrual | 9,712 | 7,282 |
Current | 2,262,530 | 1,974,225 |
Loans | 2,279,366 | 1,982,267 |
Commercial Real Estate Portfolio Segment [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Accrual loans, past due | 1,410 | 710 |
Commercial Real Estate Portfolio Segment [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Accrual loans, past due | 5,702 | 40 |
Commercial Real Estate Portfolio Segment [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Accrual loans, past due | 12 | 10 |
Real Estate Portfolio Segment[Member] | ||
Accrual loans, past due | 10,060 | 7,403 |
Non-accrual | 1,015 | 74 |
Current | 2,917,733 | 2,531,730 |
Loans | 2,928,808 | 2,539,207 |
Real Estate Portfolio Segment[Member] | Construction Loans [Member] | ||
Accrual loans, past due | 1,053 | 59 |
Non-accrual | 3,268 | |
Current | 579,821 | 331,758 |
Loans | 580,874 | 335,085 |
Real Estate Portfolio Segment[Member] | Owner Occupied Commercial [Member] | ||
Accrual loans, past due | 3,664 | 6,208 |
Non-accrual | 556 | |
Current | 1,324,446 | 1,165,511 |
Loans | 1,328,666 | 1,171,719 |
Real Estate Portfolio Segment[Member] | One to Four Family [Member] | ||
Accrual loans, past due | 1,280 | 289 |
Non-accrual | 459 | 74 |
Current | 601,324 | 536,442 |
Loans | 603,063 | 536,805 |
Real Estate Portfolio Segment[Member] | Other Mortgages [Member] | ||
Accrual loans, past due | 5,116 | 906 |
Non-accrual | ||
Current | 991,963 | 829,777 |
Loans | 997,079 | 830,683 |
Real Estate Portfolio Segment[Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Accrual loans, past due | 5,546 | 255 |
Real Estate Portfolio Segment[Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | Construction Loans [Member] | ||
Accrual loans, past due | 56 | 59 |
Real Estate Portfolio Segment[Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | Owner Occupied Commercial [Member] | ||
Accrual loans, past due | ||
Real Estate Portfolio Segment[Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | One to Four Family [Member] | ||
Accrual loans, past due | 430 | 160 |
Real Estate Portfolio Segment[Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | Other Mortgages [Member] | ||
Accrual loans, past due | 5,116 | 95 |
Real Estate Portfolio Segment[Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Accrual loans, past due | 4,514 | 940 |
Real Estate Portfolio Segment[Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | Construction Loans [Member] | ||
Accrual loans, past due | 997 | |
Real Estate Portfolio Segment[Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | Owner Occupied Commercial [Member] | ||
Accrual loans, past due | 3,664 | |
Real Estate Portfolio Segment[Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | One to Four Family [Member] | ||
Accrual loans, past due | 850 | 129 |
Real Estate Portfolio Segment[Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | Other Mortgages [Member] | ||
Accrual loans, past due | 811 | |
Real Estate Portfolio Segment[Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Accrual loans, past due | 6,208 | |
Real Estate Portfolio Segment[Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Construction Loans [Member] | ||
Accrual loans, past due | ||
Real Estate Portfolio Segment[Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Owner Occupied Commercial [Member] | ||
Accrual loans, past due | 6,208 | |
Real Estate Portfolio Segment[Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | One to Four Family [Member] | ||
Accrual loans, past due | ||
Real Estate Portfolio Segment[Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Other Mortgages [Member] | ||
Accrual loans, past due | ||
Consumer Portfolio Segment [Member] | ||
Accrual loans, past due | 202 | 114 |
Non-accrual | 38 | |
Current | 61,973 | 55,097 |
Loans | 62,213 | 55,211 |
Consumer Portfolio Segment [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Accrual loans, past due | 131 | 52 |
Consumer Portfolio Segment [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Accrual loans, past due | 23 | 17 |
Consumer Portfolio Segment [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Accrual loans, past due | $ 48 | $ 45 |
Note 4 - Loans - Summary of Imp
Note 4 - Loans - Summary of Impaired Loans (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Recorded investment, with no allowance | $ 16,296 | $ 7,398 |
Unpaid principal balance, with no allowance | 23,069 | 8,427 |
Average recorded investment, with no allowance | 23,013 | 7,907 |
Interest income recognized in period, with no allowance | 901 | 395 |
Recorded investment, with an allowance | 24,214 | 38,191 |
Unpaid principal balance, with an allowance | 24,795 | 43,000 |
Related allowance | 5,609 | 8,152 |
Average recorded investment, with an allowance | 25,727 | 37,779 |
Interest income recognized in period, with an allowance | 1,059 | 1,611 |
Recorded investment | 40,510 | 45,589 |
Unpaid principal balance | 47,864 | 51,427 |
Average recorded investment | 48,740 | 45,686 |
Interest income recognized in period | 1,960 | 2,006 |
Commercial Real Estate Portfolio Segment [Member] | ||
Recorded investment, with no allowance | 10,036 | 1,003 |
Unpaid principal balance, with no allowance | 16,639 | 1,003 |
Average recorded investment, with no allowance | 16,417 | 992 |
Interest income recognized in period, with no allowance | 571 | 64 |
Recorded investment, with an allowance | 16,411 | 26,919 |
Unpaid principal balance, with an allowance | 16,992 | 31,728 |
Related allowance | 4,276 | 6,607 |
Average recorded investment, with an allowance | 17,912 | 26,955 |
Interest income recognized in period, with an allowance | 651 | 1,162 |
Recorded investment | 26,447 | 27,922 |
Unpaid principal balance | 33,631 | 32,731 |
Average recorded investment | 34,329 | 27,947 |
Interest income recognized in period | 1,222 | 1,226 |
Real Estate Portfolio Segment[Member] | ||
Recorded investment, with no allowance | 5,648 | 5,454 |
Unpaid principal balance, with no allowance | 5,814 | 5,617 |
Average recorded investment, with no allowance | 5,891 | 5,750 |
Interest income recognized in period, with no allowance | 296 | 328 |
Recorded investment, with an allowance | 6,756 | 7,896 |
Unpaid principal balance, with an allowance | 6,756 | 7,896 |
Related allowance | 1,163 | 622 |
Average recorded investment, with an allowance | 6,776 | 7,247 |
Interest income recognized in period, with an allowance | 349 | 381 |
Recorded investment | 12,404 | 13,350 |
Unpaid principal balance | 12,570 | 13,513 |
Average recorded investment | 12,667 | 12,997 |
Interest income recognized in period | 645 | 709 |
Real Estate Portfolio Segment[Member] | Construction Loans [Member] | ||
Recorded investment, with no allowance | 574 | 938 |
Unpaid principal balance, with no allowance | 577 | 1,802 |
Average recorded investment, with no allowance | 663 | 1,159 |
Interest income recognized in period, with no allowance | 31 | 3 |
Recorded investment, with an allowance | 997 | 3,376 |
Unpaid principal balance, with an allowance | 997 | 3,376 |
Related allowance | 120 | 923 |
Average recorded investment, with an allowance | 997 | 3,577 |
Interest income recognized in period, with an allowance | 56 | 68 |
Recorded investment | 1,571 | 4,314 |
Unpaid principal balance | 1,574 | 5,178 |
Average recorded investment | 1,660 | 4,736 |
Interest income recognized in period | 87 | 71 |
Real Estate Portfolio Segment[Member] | Owner Occupied Commercial [Member] | ||
Recorded investment, with no allowance | 2,640 | 2,615 |
Unpaid principal balance, with no allowance | 2,806 | 2,778 |
Average recorded investment, with no allowance | 2,875 | 2,884 |
Interest income recognized in period, with no allowance | 159 | 166 |
Recorded investment, with an allowance | 3,914 | 6,924 |
Unpaid principal balance, with an allowance | 3,914 | 6,924 |
Related allowance | 601 | 348 |
Average recorded investment, with an allowance | 3,801 | 6,934 |
Interest income recognized in period, with an allowance | 215 | 362 |
Recorded investment | 6,554 | 9,539 |
Unpaid principal balance | 6,720 | 9,702 |
Average recorded investment | 6,676 | 9,818 |
Interest income recognized in period | 374 | 528 |
Real Estate Portfolio Segment[Member] | One to Four Family [Member] | ||
Recorded investment, with no allowance | 2,262 | 1,899 |
Unpaid principal balance, with no allowance | 2,262 | 1,899 |
Average recorded investment, with no allowance | 2,289 | 1,901 |
Interest income recognized in period, with no allowance | 93 | 102 |
Recorded investment, with an allowance | 980 | 972 |
Unpaid principal balance, with an allowance | 980 | 972 |
Related allowance | 281 | 274 |
Average recorded investment, with an allowance | 1,113 | 313 |
Interest income recognized in period, with an allowance | 54 | 19 |
Recorded investment | 3,242 | 2,871 |
Unpaid principal balance | 3,242 | 2,871 |
Average recorded investment | 3,402 | 2,214 |
Interest income recognized in period | 147 | 121 |
Real Estate Portfolio Segment[Member] | Other Mortgages [Member] | ||
Recorded investment, with no allowance | 746 | 940 |
Unpaid principal balance, with no allowance | 746 | 940 |
Average recorded investment, with no allowance | 727 | 965 |
Interest income recognized in period, with no allowance | 44 | 60 |
Recorded investment, with an allowance | 1,862 | |
Unpaid principal balance, with an allowance | 1,862 | |
Related allowance | 281 | |
Average recorded investment, with an allowance | 1,862 | |
Interest income recognized in period, with an allowance | 80 | |
Recorded investment | 2,608 | 940 |
Unpaid principal balance | 2,608 | 940 |
Average recorded investment | 2,589 | 965 |
Interest income recognized in period | 124 | 60 |
Consumer Portfolio Segment [Member] | ||
Recorded investment, with no allowance | 38 | 3 |
Unpaid principal balance, with no allowance | 39 | 5 |
Average recorded investment, with no allowance | 42 | 6 |
Interest income recognized in period, with no allowance | 3 | |
Recorded investment, with an allowance | 50 | |
Unpaid principal balance, with an allowance | 50 | |
Related allowance | 50 | |
Average recorded investment, with an allowance | 42 | |
Interest income recognized in period, with an allowance | 3 | |
Recorded investment | 88 | 3 |
Unpaid principal balance | 89 | 5 |
Average recorded investment | 84 | 6 |
Interest income recognized in period | $ 6 |
Note 4 - Loans - Trouble Debt R
Note 4 - Loans - Trouble Debt Restructurings (Details) $ in Thousands | 12 Months Ended | |
Dec. 31, 2017USD ($) | Dec. 31, 2016USD ($) | |
Number of Contracts | 10 | 10 |
Pre- Modification Outstanding Recorded Investment | $ 16,949 | $ 7,333 |
Post- Modification Outstanding Recorded Investment | 16,949 | 7,333 |
Defaulted during the previous 12 months | $ 6,734 | |
Commercial Real Estate Portfolio Segment [Member] | ||
Number of Contracts | 6 | 9 |
Pre- Modification Outstanding Recorded Investment | $ 11,438 | $ 7,099 |
Post- Modification Outstanding Recorded Investment | 11,438 | 7,099 |
Defaulted during the previous 12 months | $ 6,734 | |
Real Estate Portfolio Segment[Member] | ||
Number of Contracts | 3 | 1 |
Pre- Modification Outstanding Recorded Investment | $ 4,514 | $ 234 |
Post- Modification Outstanding Recorded Investment | 4,514 | 234 |
Defaulted during the previous 12 months | ||
Real Estate Portfolio Segment[Member] | Construction Loans [Member] | ||
Number of Contracts | 1 | |
Pre- Modification Outstanding Recorded Investment | $ 997 | |
Post- Modification Outstanding Recorded Investment | 997 | |
Defaulted during the previous 12 months | ||
Real Estate Portfolio Segment[Member] | Owner Occupied Commercial [Member] | ||
Number of Contracts | 2 | |
Pre- Modification Outstanding Recorded Investment | $ 3,664 | |
Post- Modification Outstanding Recorded Investment | 3,664 | |
Defaulted during the previous 12 months | ||
Real Estate Portfolio Segment[Member] | One to Four Family [Member] | ||
Number of Contracts | 1 | |
Pre- Modification Outstanding Recorded Investment | $ 850 | |
Post- Modification Outstanding Recorded Investment | 850 | |
Defaulted during the previous 12 months | ||
Real Estate Portfolio Segment[Member] | Other Mortgages [Member] | ||
Number of Contracts | 1 | |
Pre- Modification Outstanding Recorded Investment | $ 234 | |
Post- Modification Outstanding Recorded Investment | 234 | |
Defaulted during the previous 12 months | ||
Consumer Portfolio Segment [Member] | ||
Number of Contracts | ||
Pre- Modification Outstanding Recorded Investment | ||
Post- Modification Outstanding Recorded Investment | ||
Defaulted during the previous 12 months |
Note 4 - Loans - Changes In Rel
Note 4 - Loans - Changes In Related Party Loans (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Balance, beginning of year | $ 10,806 | $ 12,090 |
Advances | 7,351 | 9,763 |
Repayments | (9,717) | (11,047) |
Balance, end of year | $ 8,440 | $ 10,806 |
Note 5 - Foreclosed Propertie69
Note 5 - Foreclosed Properties - Summary of Foreclosed Properties (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Balance at beginning of year | $ 4,988 | $ 5,392 | $ 6,840 |
OREO acquired | 2,348 | ||
Transfers from loans and capitalized expenses | 4,685 | 4,112 | 2,210 |
Foreclosed properties sold | (2,982) | (3,931) | (5,227) |
Writedowns and partial liquidations | 10 | (585) | (779) |
Balance at end of year | $ 6,701 | $ 4,988 | $ 5,392 |
Note 6 - Premises and Equipme70
Note 6 - Premises and Equipment (Details Textual) | 12 Months Ended | ||
Dec. 31, 2017USD ($)ft² | Dec. 31, 2016USD ($) | Dec. 31, 2015USD ($) | |
Depreciation, Depletion and Amortization, Nonproduction | $ 2,568,000 | $ 2,724,000 | $ 2,219,000 |
Operating Leases, Rent Expense | $ 4,253,000 | $ 3,759,000 | $ 2,919,000 |
New Headquarter in Birmingham, Alabama [Member] | |||
Area of Real Estate Property | ft² | 97,500 |
Note 6 - Premises and Equipme71
Note 6 - Premises and Equipment - Components of Premises and Equipment (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Property, plant, and equipment, gross | $ 74,711 | $ 53,575 |
Accumulated depreciation | (15,811) | (13,261) |
Total premises and equipment, net of accumulated depreciation | 58,900 | 40,314 |
Land [Member] | ||
Property, plant, and equipment, gross | 5,468 | 5,506 |
Building [Member] | ||
Property, plant, and equipment, gross | 36,259 | 7,817 |
Furniture and Equipment [Member] | ||
Property, plant, and equipment, gross | 23,297 | 18,668 |
Leasehold Improvements [Member] | ||
Property, plant, and equipment, gross | 9,599 | 7,469 |
Construction in Progress [Member] | ||
Property, plant, and equipment, gross | $ 88 | $ 14,115 |
Note 6 - Premises and Equipme72
Note 6 - Premises and Equipment Future Minimum Lease Payments Under Non-cancellable Operating Leases (Details) $ in Thousands | Dec. 31, 2017USD ($) |
2,018 | $ 3,093 |
2,019 | 3,024 |
2,020 | 3,007 |
2,021 | 2,397 |
2,022 | 2,384 |
Thereafter | 3,641 |
Total | $ 17,546 |
Note 7 - Variable Interest En73
Note 7 - Variable Interest Entities (VIEs) (Details Textual) - USD ($) | Dec. 31, 2017 | Dec. 31, 2016 |
Other Assets | $ 27,598,000 | $ 18,317,000 |
Loan [Member] | ||
Limited Partners' Capital Account | 13,555,000 | 14,254,000 |
Partnership Investment [Member] | ||
Other Assets | 0 | 96,000 |
Limited Partners' Capital Account | $ 21,147,000 | $ 24,117,000 |
Note 8 - Deposits (Details Text
Note 8 - Deposits (Details Textual) - USD ($) | Dec. 31, 2017 | Dec. 31, 2016 |
Overdraft Deposit Reclassification | $ 1,717,000 | $ 2,033,000 |
Note 8 - Deposits - Summary of
Note 8 - Deposits - Summary of Deposits (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Non-interest-bearing demand | $ 1,440,326 | $ 1,281,605 |
Interest-bearing checking | 4,029,147 | 3,562,165 |
Savings | 50,959 | 48,718 |
Time deposits, $250,000 and under | 228,540 | 234,157 |
Time deposits, over $250,000 | 342,702 | 293,666 |
Total | $ 6,091,674 | $ 5,420,311 |
Note 8 - Deposits - Scheduled M
Note 8 - Deposits - Scheduled Maturities of Time Deposits (Details) $ in Thousands | Dec. 31, 2017USD ($) |
2,018 | $ 353,413 |
2,019 | 96,661 |
2,020 | 41,844 |
2,021 | 46,862 |
2,022 | 32,412 |
Thereafter | 50 |
Total | $ 571,242 |
Note 9 - Federal Funds Purcha77
Note 9 - Federal Funds Purchased (Details Textual) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Federal Funds Purchased | $ 301,797 | $ 355,944 |
Line of Credit Facility, Maximum Borrowing Capacity | 468,000 | $ 378,000 |
Long-term Line of Credit | $ 0 | |
Federal Funds Purchased [Member] | Minimum [Member] | ||
Debt Instrument, Interest Rate, Stated Percentage | 1.55% | 0.75% |
Federal Funds Purchased [Member] | Maximum [Member] | ||
Debt Instrument, Interest Rate, Stated Percentage | 1.70% | 0.80% |
Note 10 - Other Borrowings (Det
Note 10 - Other Borrowings (Details Textual) - USD ($) | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Other Borrowings | $ 64,832,000 | $ 55,262,000 | |
Debt Issuance Costs, Net | 118,000 | $ 87,000 | |
Federal Home Loan Bank of Atlanta [Member] | |||
Advances from Federal Home Loan Banks | $ 200,000 | ||
Federal Home Loan Bank, Advances, Interest Rate | 0.75% | ||
Payments for Federal Home Loan Bank Advances | $ 100,000 | ||
Subordinated Notes Due July 15, 2025 [Member] | |||
Other Borrowings | $ 34,750,000 | ||
Debt Instrument, Interest Rate, Stated Percentage | 5.00% | 5.00% | 5.00% |
Subordinates Note Due November 8, 2027 [Member] | |||
Other Borrowings | $ 30,000,000 | ||
Debt Instrument, Interest Rate, Stated Percentage | 4.50% | 4.50% | 4.50% |
Note 12 - Participation in th79
Note 12 - Participation in the Small Business Lending Fund of the U.S. Treausury Department (Details Textual) - USD ($) | 12 Months Ended | ||
Dec. 31, 2017 | Jul. 31, 2015 | Jun. 21, 2011 | |
Fund Established Under Small Business Job Act 2010 | $ 30,000,000,000 | ||
Qualified Community Banks | $ 10,000,000,000 | ||
Preferred Stock, Dividend Rate, Percentage | 1.00% | ||
Fixed Rate [Member] | |||
Preferred Stock, Dividend Rate, Percentage | 9.00% | ||
Qualified Small Business Lending [Member] | |||
Preferred Stock, Dividend Rate, Percentage | 1.00% | ||
Senior Non Cumulative Perpetual Preferred Stock [Member] | |||
Preferred Stock, Shares Issued | 40,000 | ||
Preferred Stock, Liquidation Preference, Value | $ 40,033,000 |
Note 14 - Employee and Direct80
Note 14 - Employee and Director Benefits (Details Textual) - USD ($) | 12 Months Ended | |||||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | Mar. 23, 2009 | Dec. 31, 2006 | Dec. 31, 2005 | |
Share-based Compensation | $ 1,170,000 | $ 1,198,000 | $ 1,265,000 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 3,478,644 | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value | $ 11.82 | $ 6 | $ 4.20 | |||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized | $ 1,973,000 | |||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | 2 years 182 days | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested in Period, Fair Value | $ 315,000 | $ 1,908,000 | $ 242,000 | |||
Postemployment Benefits, Period Expense | 1,419,000 | $ 1,294,000 | $ 1,080,000 | |||
Restricted Stock [Member] | ||||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized | $ 473,000 | |||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | 1 year | |||||
The 2005 Plan [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 6,150,000 | 3,150,000 | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period | 10 years | |||||
The 2009 Plan [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 5,550,000 | 2,550,000 |
Note 14 - Employee and Direct81
Note 14 - Employee and Director Benefits - Assumption Used to Estimate Fair Value of Stock Option Awards (Details) - Employee Stock Option [Member] | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Expected price volatility | 29.00% | 29.00% | 24.00% |
Expected dividend yield | 0.44% | 0.64% | 0.71% |
Expected term (in years) (Year) | 6 years | 6 years | 6 years |
Risk-free rate | 2.08% | 1.85% | 1.85% |
Note 14 - Employee and Direct82
Note 14 - Employee and Director Benefits - Summary of Stock Option Activity (Details) - USD ($) $ / shares in Units, $ in Thousands | 12 Months Ended | |||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Shares, exercisable (in shares) | 808,236 | |||
Weighted average exercise price, exercisable (in dollars per share) | $ 5.22 | |||
Weighted average remaining contractual term, exercisable (Year) | 3 years 328 days | |||
Aggregate intrinsic value, exercisable | $ 29,321 | |||
Employee Stock Option [Member] | ||||
Outstanding (in shares) | 2,026,334 | 2,498,834 | 3,245,834 | |
Outstanding, weighted average exercise price (in dollars per share) | $ 9 | $ 6.66 | $ 4.69 | |
Outstanding, weighted average remaining contractual term (Year) | 5 years 182 days | 6 years 73 days | 6 years 109 days | 5 years 328 days |
Outstanding, aggregate intrinsic value | $ 51,377 | $ 57,636 | $ 42,746 | $ 38,256 |
Granted (in shares) | 58,000 | 241,000 | 324,000 | |
Granted, weighted average exercise price (in dollars per share) | $ 37.59 | $ 20.15 | $ 16.63 | |
Granted, weighted average remaining contractual term (Year) | 9 years 36 days | 9 years 36 days | 9 years 73 days | |
Granted, aggregate intrinsic value | $ 227 | $ 4,166 | $ 2,311 | |
Exercised (in shares) | (385,500) | (682,500) | (1,051,000) | |
Exercised, weighted average exercise price (in dollars per share) | $ 4.96 | $ 4.28 | $ 3.62 | |
Exercised, weighted average remaining contractual term (Year) | 4 years | 3 years 328 days | 2 years 255 days | |
Exercised, aggregate intrinsic value | $ 14,087 | $ 22,629 | $ 21,177 | |
Forfeited (in shares) | (32,000) | (31,000) | (20,000) | |
Forfeited, weighted average exercise price (in dollars per share) | $ 21.96 | $ 11.04 | $ 8.40 | |
Forfeited, weighted average remaining contractual term (Year) | 8 years 36 days | 6 years 292 days | 7 years 36 days | |
Forfeited, aggregate intrinsic value | $ 625 | $ 818 | ||
Outstanding (in shares) | 1,666,834 | 2,026,334 | 2,498,834 | 3,245,834 |
Outstanding, weighted average exercise price (in dollars per share) | $ 10.68 | $ 9 | $ 6.66 | $ 4.69 |
Shares, exercisable (in shares) | 808,236 | 928,536 | 410,836 | |
Weighted average exercise price, exercisable (in dollars per share) | $ 5.22 | $ 5.08 | $ 4.84 | |
Weighted average remaining contractual term, exercisable (Year) | 3 years 328 days | 4 years 292 days | 5 years 146 days | |
Aggregate intrinsic value, exercisable | $ 29,321 | $ 30,051 | $ 7,775 |
Note 14 - Employee and Direct83
Note 14 - Employee and Director Benefits - Exercisable Options Activity (Details) $ / shares in Units, $ in Thousands | 12 Months Ended |
Dec. 31, 2017USD ($)$ / sharesshares | |
Shares, exercisable (in shares) | shares | 808,236 |
Weighted average exercise price, exercisable (in dollars per share) | $ / shares | $ 5.22 |
Weighted average remaining contractual term, exercisable (Year) | 3 years 328 days |
Aggregate intrinsic value, exercisable | $ | $ 29,321 |
Exercise Price Range 1 [Member] | |
Shares, exercisable (in shares) | shares | 145,336 |
Weighted average exercise price, exercisable (in dollars per share) | $ / shares | $ 4.17 |
Weighted average remaining contractual term, exercisable (Year) | 2 years 146 days |
Aggregate intrinsic value, exercisable | $ | $ 5,426 |
Exercise Price Range 2 [Member] | |
Shares, exercisable (in shares) | shares | 483,500 |
Weighted average exercise price, exercisable (in dollars per share) | $ / shares | $ 5 |
Weighted average remaining contractual term, exercisable (Year) | 3 years 292 days |
Aggregate intrinsic value, exercisable | $ | $ 17,648 |
Exercise Price Range 3 [Member] | |
Shares, exercisable (in shares) | shares | 120,000 |
Weighted average exercise price, exercisable (in dollars per share) | $ / shares | $ 5.50 |
Weighted average remaining contractual term, exercisable (Year) | 5 years 73 days |
Aggregate intrinsic value, exercisable | $ | $ 4,320 |
Exercise Price Range 4 [Member] | |
Shares, exercisable (in shares) | shares | 45,000 |
Weighted average exercise price, exercisable (in dollars per share) | $ / shares | $ 6.92 |
Weighted average remaining contractual term, exercisable (Year) | 6 years |
Aggregate intrinsic value, exercisable | $ | $ 1,556 |
Exercise Price Range 5 [Member] | |
Shares, exercisable (in shares) | shares | 14,400 |
Weighted average exercise price, exercisable (in dollars per share) | $ / shares | $ 15.74 |
Weighted average remaining contractual term, exercisable (Year) | 7 years 36 days |
Aggregate intrinsic value, exercisable | $ | $ 371 |
Note 15 - Common Stock (Details
Note 15 - Common Stock (Details Textual) $ / shares in Units, $ in Millions | Nov. 16, 2016 | Jan. 31, 2015USD ($)shares | Jul. 16, 2014shares | Jun. 16, 2014 | May 19, 2014USD ($)$ / sharesshares | Dec. 31, 2016 | Dec. 31, 2015shares |
Stockholders' Equity Note, Stock Split, Conversion Ratio | 2 | 3 | 2 | ||||
Common Stock Dividends, Shares | 2 | ||||||
Stock Issued During Period, Shares, New Issues | 1,051,000 | ||||||
IPO [Member] | |||||||
Stock Issued During Period, Shares, New Issues | 3,750,000 | ||||||
Sale of Stock, Price Per Share | $ / shares | $ 15.167 | ||||||
Proceeds from Issuance of Private Placement | $ | $ 52.1 | ||||||
Metro Bancshares, Inc [Member] | |||||||
Payments to Acquire Businesses, Gross | $ | $ 20.9 | ||||||
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares | 1,273,184 |
Note 16 - Regulatory Matters (D
Note 16 - Regulatory Matters (Details Textual) $ in Millions | Dec. 31, 2017USD ($) |
Cumulative Dividends | $ 239 |
Excess Tier One Common Equity Risk Weighted Assets | 2.50% |
Excess Tier One Common Equity Capital Conservation Buffer | 1.25% |
Note 16 - Regulatory Matters -
Note 16 - Regulatory Matters - The Company's and Bank's Actual Capital Amounts and Ratios (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
CET 1 Capital to risk weighted assets, amount | $ 593,111 | $ 508,982 |
CET 1 Capital to risk weighted assets, ratio | 9.51% | 9.78% |
CET 1 Capital to risk weighted assets, for capital adequacy purposes, amount | $ 280,553 | $ 234,262 |
CET 1 capital to risk weighted assets, for capital adequacy purposes, ratio | 4.50% | 4.50% |
Tier 1 capital to risk weighted assets, amount | $ 593,613 | $ 509,359 |
Tier 1 capital to risk weighted assets, ratio | 9.52% | 9.78% |
Tier 1 capital to risk weighted assets, for capital adequacy purposes, amount | $ 374,070 | $ 312,350 |
Tier 1 capital to risk weighted assets, for capital adequacy purposes, ratio | 6.00% | 6.00% |
Total capital to risk weighted assets, amount | $ 718,151 | $ 616,415 |
Total capital to risk weighted assets, ratio | 11.52% | 11.84% |
Total capital to risk weighted assets, for capital adequacy purposes, amount | $ 498,760 | $ 416,467 |
Total capital to risk weighted assets, for capital adequacy purposes, ratio | 8.00% | 8.00% |
Tier 1 capital to average assets, amount | $ 593,613 | $ 509,359 |
Tier 1 capital to average assets, ratio | 8.51% | 8.22% |
Tier 1 capital to average assets, for capital adequacy purposes, amount | $ 278,970 | $ 247,777 |
Tier 1 capital to average assets, for capital adequacy purposes, ratio | 4.00% | 4.00% |
Servisfirst Bank [Member] | ||
CET 1 Capital to risk weighted assets, amount | $ 651,201 | $ 560,731 |
CET 1 Capital to risk weighted assets, ratio | 10.45% | 10.77% |
CET 1 Capital to risk weighted assets, for capital adequacy purposes, amount | $ 280,523 | $ 234,232 |
CET 1 capital to risk weighted assets, for capital adequacy purposes, ratio | 4.50% | 4.50% |
CET 1 capital to risk weighted assets, to be well capitalized under prompt corrective action provisions, amount | $ 405,199 | $ 338,335 |
CET 1 capital to risk weighted assets, to be well capitalized under prompt corrective action provisions, ratio | 6.50% | 6.50% |
Tier 1 capital to risk weighted assets, amount | $ 651,703 | $ 561,108 |
Tier 1 capital to risk weighted assets, ratio | 10.45% | 10.78% |
Tier 1 capital to risk weighted assets, for capital adequacy purposes, amount | $ 374,030 | $ 312,309 |
Tier 1 capital to risk weighted assets, for capital adequacy purposes, ratio | 6.00% | 6.00% |
Tier 1 capital to risk weighted assets, to be well capitalized under prompt corrective action provisions, amount | $ 498,707 | $ 416,413 |
Tier 1 capital to risk weighted assets, to be well capitalized under prompt corrective action provisions, ratio | 8.00% | 8.00% |
Total capital to risk weighted assets, amount | $ 711,609 | $ 613,501 |
Total capital to risk weighted assets, ratio | 11.42% | 11.79% |
Total capital to risk weighted assets, for capital adequacy purposes, amount | $ 498,707 | $ 416,413 |
Total capital to risk weighted assets, for capital adequacy purposes, ratio | 8.00% | 8.00% |
Total capital to risk weighted assets, to be well capitalized under prompt corrective action provisions, amount | $ 623,384 | $ 520,516 |
Total capital to risk weighted assets, to be well capitalized under prompt corrective action provisions, ratio | 10.00% | 10.00% |
Tier 1 capital to average assets, amount | $ 651,703 | $ 561,108 |
Tier 1 capital to average assets, ratio | 9.35% | 9.06% |
Tier 1 capital to average assets, for capital adequacy purposes, amount | $ 278,954 | $ 247,760 |
Tier 1 capital to average assets, for capital adequacy purposes, ratio | 4.00% | 4.00% |
Tier 1 capital to average assets, to be well capitalized under prompt corrective action provisions, amount | $ 348,693 | $ 309,700 |
Tier 1 capital to average assets, to be well capitalized uner prompt corrective action provisions, ratio | 5.00% | 5.00% |
Note 17 - Other Operating Inc87
Note 17 - Other Operating Income and Expenses - Other Operating Income and Expense Included in Noninterest Income and Noninterest Expense (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
ATM fee income | $ 1,175 | $ 1,061 | $ 916 |
Gain (loss) on sale of other real estate owned | 33 | 18 | (136) |
Gain (loss) on sale of fixed assets | 1 | 1,399 | (27) |
Other | 354 | 556 | 331 |
Total other operating income | 1,563 | 3,034 | 1,084 |
Data processing | 5,454 | 4,832 | 4,293 |
Other loan expenses | 2,170 | 1,510 | 2,086 |
Customer and public relations | 1,695 | 1,594 | 1,211 |
Bank service charges | 1,522 | 1,341 | 961 |
Sales and use tax | 1,167 | 781 | 380 |
Write-down investment in tax credit partnerships | 1,081 | 2,519 | 3,966 |
Telephone | 990 | 740 | 680 |
Donations and contributions | 744 | 769 | 605 |
Marketing | 716 | 544 | 562 |
Supplies | 595 | 555 | 492 |
Fraud and forgery losses | 515 | 206 | 92 |
Directors fees | 472 | 407 | 406 |
Postage | 441 | 377 | 338 |
Other operational losses | 167 | 264 | 126 |
Other | 5,085 | 4,478 | 3,902 |
Total other operating expenses | $ 22,814 | $ 20,917 | $ 20,100 |
Note 18 - Income Taxes (Details
Note 18 - Income Taxes (Details Textual) - USD ($) | 12 Months Ended | |||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 35.00% | 35.00% | 35.00% | |
Income Tax Expense (Benefit), Continuing Operations, Adjustment of Deferred Tax (Asset) Liability | $ 3,108,000 | |||
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued | 116,000 | $ 94,000 | ||
Unrecognized Tax Benefits that Would Impact Effective Tax Rate | $ 1,779,000 | $ 1,375,000 | ||
Scenario, Forecast [Member] | ||||
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 21.00% |
Note 18 - Income Taxes - Income
Note 18 - Income Taxes - Income Tax Expense (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Current tax expense: | |||
Federal | $ 27,952 | $ 29,813 | $ 28,517 |
State | 2,258 | 1,254 | 1,824 |
Total current tax expense | 30,210 | 31,067 | 30,341 |
Deferred tax expense (benefit): | |||
Federal | 17,073 | (662) | (3,277) |
State | (3,025) | (1,066) | (1,599) |
Total deferred tax (benefit) | 14,048 | (1,728) | (4,876) |
Total income tax expense | $ 44,258 | $ 29,339 | $ 25,465 |
Note 18 - Income Taxes - The Fe
Note 18 - Income Taxes - The Federal Income Tax Statutory Rates to Income Before Income Taxes (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Income tax at statutory federal rate, amount | $ 48,073 | $ 38,786 | $ 31,152 |
Income tax at statutory federal rate, pre-tax earnings | 35.00% | 35.00% | 35.00% |
State income tax, net of federal tax effect, amount | $ 43 | $ 254 | $ 146 |
State income tax, net of federal tax effect, pre-tax earnings | 0.03% | 0.23% | 0.16% |
Tax-exempt income, net of expenses, amount | $ (1,356) | $ (1,322) | $ (1,308) |
Tax-exempt income, net of expenses, pre-tax earnings | (0.99%) | (1.20%) | (1.47%) |
Bank owned life insurance contracts, amount | $ (1,096) | $ (978) | $ (917) |
Bank owned life insurance contracts, pre-tax earnings | (0.80%) | (0.88%) | (1.03%) |
Excess tax benefit from stock compensation, amount | $ (4,278) | $ 4,788 | $ (3) |
Excess tax benefit from stock compensation, pre-tax earnings | (3.11%) | (4.32%) | |
Federal tax credits, amount | $ (234) | $ (2,652) | $ (3,600) |
Federal tax credits, pre-tax earnings | (0.17%) | (2.40%) | (4.04%) |
Enacted tax rate change | $ 3,108 | ||
Enacted tax rate change, pre-tax earnings | 2.26% | ||
Other, amount | $ (2) | $ 39 | $ (11) |
Other, pre-tax earnings | 0.04% | (0.01%) | |
Effective income tax and rate, amount | $ 44,258 | $ 29,339 | $ 25,465 |
Effective income tax and rate, pre-tax earnings | 32.22% | 26.47% | 28.61% |
Excess tax benefit from stock compensation | $ 4,278 | $ (4,788) | $ 3 |
Excess tax benefit from stock compensation, amount | $ 4,278 | $ (4,788) | $ 3 |
Excess tax benefit from stock compensation, pre-tax earnings | (3.11%) | (4.32%) |
Note 18 - Income Taxes - Compon
Note 18 - Income Taxes - Components of Net Deferred Tax Asset (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Deferred tax assets: | ||
Allowance for loan losses | $ 14,905 | $ 19,699 |
Other real estate owned | 232 | 737 |
Nonqualified equity awards | 927 | 1,234 |
Nonaccrual interest | 178 | 501 |
State tax credits | 5,688 | 3,475 |
Investments | 1,296 | 2,173 |
Deferred loan fees | 866 | 707 |
Reserve for unfunded commitments | 125 | 190 |
Accrued bonus | 1,521 | 1,817 |
Differences in amounts reflected in financial statements and income tax basis of assets acquired and liabilities assumed in acquisition | 175 | 448 |
Acquired net operating losses | 27 | |
Net unrealized loss on securities available for sale | 65 | 331 |
Other deferred tax assets | 431 | 122 |
Total deferred tax assets | 26,409 | 31,461 |
Deferred tax liabilities: | ||
REIT dividend | 9,706 | |
Depreciation | 3,240 | 3,606 |
Prepaid expenses | 164 | 198 |
Acquired intangible assets | 277 | 525 |
Total deferred tax liabilities | 13,387 | 4,329 |
Net deferred tax assets | $ 13,022 | $ 27,132 |
Note 18 - Income Taxes - Summar
Note 18 - Income Taxes - Summary of the Changes in the Amount of Unrecognized Tax Benefits (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Balance, beginning of year | $ 1,375 | $ 1,173 | $ 804 |
Increases related to prior year tax positions | 365 | 364 | 369 |
Decreases related to prior year tax positions | |||
Increases related to current year tax positions | |||
Settlements | |||
Enacted tax rate change | 315 | ||
Lapse of statute | (276) | (162) | |
Balance, end of year | $ 1,779 | $ 1,375 | $ 1,173 |
Note 19 - Commitments and Con93
Note 19 - Commitments and Contingencies - Summary of Commitments and Contingent Liabilities (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 |
Commitments to extend credit | $ 1,945,171 | $ 1,667,015 | $ 1,409,425 |
Credit card arrangements | 128,149 | 100,678 | 62,462 |
Standby letters of credit and financial guarantees | 41,654 | 40,991 | 38,224 |
Total | $ 2,114,974 | $ 1,808,684 | $ 1,510,111 |
Note 21 - Earnings Per Common94
Note 21 - Earnings Per Common Share - Summary of Earnings Per Common Share (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Earnings Per Share | |||||||||||
Weighted average common shares outstanding (in shares) | 52,887,359 | 52,450,896 | 51,426,466 | ||||||||
Net income available to common stockholders | $ 21,119 | $ 25,259 | $ 24,133 | $ 22,519 | $ 21,714 | $ 20,909 | $ 18,853 | $ 19,956 | $ 93,030 | $ 81,432 | $ 63,260 |
Basic earnings per common share (in dollars per share) | $ 0.40 | $ 0.48 | $ 0.46 | $ 0.42 | $ 0.41 | $ 0.40 | $ 0.36 | $ 0.38 | $ 1.76 | $ 1.55 | $ 1.23 |
Dilutive effects of assumed conversions and exercise of stock options and warrants (in shares) | 1,236,598 | 1,157,476 | 1,458,642 | ||||||||
Weighted average common and dilutive potential common shares outstanding (in shares) | 54,123,957 | 53,608,372 | 52,885,108 | ||||||||
Net income available to common stockholders | $ 93,030 | $ 81,432 | $ 63,260 | ||||||||
Diluted earnings per common share (in dollars per share) | $ 0.39 | $ 0.47 | $ 0.45 | $ 0.41 | $ 0.40 | $ 0.39 | $ 0.36 | $ 0.37 | $ 1.72 | $ 1.52 | $ 1.20 |
Note 22 - Related Party Trans95
Note 22 - Related Party Transactions (Details Textual) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Loans and Leases Receivable, Net of Deferred Income | $ 5,851,261 | $ 4,911,770 |
Related Party Deposit Liabilities | 7,000 | 7,900 |
Related Party [Member] | ||
Loans and Leases Receivable, Net of Deferred Income | $ 8,400 | $ 10,800 |
Note 23 - Fair Value Measurem96
Note 23 - Fair Value Measurement (Details Textual) - USD ($) | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Asset Impairment Charges | $ 13,253,000 | $ 7,424,000 |
Real Estate Owned, Amount of Loss at Acquisition | 227,000 | 585,000 |
Mortgage Loans on Real Estate, Foreclosures | $ 0 | $ 189,000 |
Note 23 - Fair Value Measurem97
Note 23 - Fair Value Measurement - Financial Assets and Financial Liabilities Carried at Fair Value on a Recurring Basis (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Available-for-sale securities | $ 538,080 | $ 422,375 |
US Treasury and Government [Member] | ||
Available-for-sale securities | 55,356 | 46,254 |
Collateralized Mortgage Backed Securities [Member] | ||
Available-for-sale securities | 276,498 | 227,190 |
US States and Political Subdivisions Debt Securities [Member] | ||
Available-for-sale securities | 134,849 | 139,930 |
Corporate Debt Securities [Member] | ||
Available-for-sale securities | 71,377 | 9,001 |
Fair Value, Measurements, Recurring [Member] | ||
Available-for-sale securities | 538,080 | 422,375 |
Fair Value, Measurements, Recurring [Member] | US Treasury and Government [Member] | ||
Available-for-sale securities | 55,356 | 46,254 |
Fair Value, Measurements, Recurring [Member] | Collateralized Mortgage Backed Securities [Member] | ||
Available-for-sale securities | 276,498 | 227,190 |
Fair Value, Measurements, Recurring [Member] | US States and Political Subdivisions Debt Securities [Member] | ||
Available-for-sale securities | 134,849 | 139,930 |
Fair Value, Measurements, Recurring [Member] | Corporate Debt Securities [Member] | ||
Available-for-sale securities | 71,377 | 9,001 |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Available-for-sale securities | ||
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | US Treasury and Government [Member] | ||
Available-for-sale securities | ||
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Collateralized Mortgage Backed Securities [Member] | ||
Available-for-sale securities | ||
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | US States and Political Subdivisions Debt Securities [Member] | ||
Available-for-sale securities | ||
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Corporate Debt Securities [Member] | ||
Available-for-sale securities | ||
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Available-for-sale securities | 531,580 | 422,375 |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | US Treasury and Government [Member] | ||
Available-for-sale securities | 55,356 | 46,254 |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Collateralized Mortgage Backed Securities [Member] | ||
Available-for-sale securities | 276,498 | 227,190 |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | US States and Political Subdivisions Debt Securities [Member] | ||
Available-for-sale securities | 134,849 | 139,930 |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Corporate Debt Securities [Member] | ||
Available-for-sale securities | 64,877 | 9,001 |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Available-for-sale securities | 6,500 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | US Treasury and Government [Member] | ||
Available-for-sale securities | ||
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Collateralized Mortgage Backed Securities [Member] | ||
Available-for-sale securities | ||
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | US States and Political Subdivisions Debt Securities [Member] | ||
Available-for-sale securities | ||
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Corporate Debt Securities [Member] | ||
Available-for-sale securities | $ 6,500 |
Note 23 - Fair Value Measurem98
Note 23 - Fair Value Measurement - Carrying Amount and Estimated Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Impaired loans | $ 34,901 | $ 37,437 |
Other real estate owned and repossessed assets | 6,701 | 4,988 |
Total assets at fair value | 41,602 | 42,425 |
Fair Value, Inputs, Level 1 [Member] | ||
Impaired loans | ||
Other real estate owned and repossessed assets | ||
Total assets at fair value | ||
Fair Value, Inputs, Level 2 [Member] | ||
Impaired loans | ||
Other real estate owned and repossessed assets | ||
Total assets at fair value | ||
Fair Value, Inputs, Level 3 [Member] | ||
Impaired loans | 34,901 | 37,437 |
Other real estate owned and repossessed assets | 6,701 | 4,988 |
Total assets at fair value | $ 41,602 | $ 42,425 |
Note 23 - Fair Value Measurem99
Note 23 - Fair Value Measurement - Financial Assets and Liabilities Carried at Fair Value on Recurring Basis or Nonrecurring Basis (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Cash and cash equivalents | $ 86,213 | $ 56,855 |
Debt securities available for sale | 538,080 | 422,375 |
Debt securities held to maturity | 250 | 62,564 |
Equity securities | 1,034 | 1,024 |
Federal funds sold | 239,524 | 160,435 |
Mortgage loans held for sale | 4,459 | 4,675 |
Bank owned life insurance contracts | 127,519 | 114,388 |
Available for sale debt securities, at fair value | 538,080 | 422,375 |
Held to maturity debt securities (fair value of $250 and $63,302 at December 31, 2017 and December 31, 2016, respectively) | 250 | 62,564 |
Loans, net | 5,791,855 | 4,859,877 |
Federal funds purchased | 301,797 | 355,944 |
Reported Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Cash and cash equivalents | 238,062 | 623,562 |
Reported Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Debt securities available for sale | 531,580 | 422,375 |
Debt securities held to maturity | 25,052 | |
Equity securities | 1,034 | 1,024 |
Federal funds sold | 239,524 | 160,435 |
Mortgage loans held for sale | 4,459 | 4,675 |
Bank owned life insurance contracts | 127,519 | 114,388 |
Available for sale debt securities, at fair value | 531,580 | 422,375 |
Held to maturity debt securities (fair value of $250 and $63,302 at December 31, 2017 and December 31, 2016, respectively) | 25,052 | |
Deposits | 6,091,674 | 5,420,311 |
Federal funds purchased | 301,797 | 355,944 |
Other borrowings | 64,832 | 55,262 |
Reported Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Debt securities available for sale | 6,500 | |
Debt securities held to maturity | 250 | 37,512 |
Available for sale debt securities, at fair value | 6,500 | |
Held to maturity debt securities (fair value of $250 and $63,302 at December 31, 2017 and December 31, 2016, respectively) | 250 | 37,512 |
Loans, net | 5,791,855 | 4,859,877 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Cash and cash equivalents | 238,062 | 623,562 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Debt securities available for sale | 531,580 | 422,375 |
Debt securities held to maturity | 25,431 | |
Equity securities | 1,034 | 1,024 |
Federal funds sold | 239,524 | 160,435 |
Mortgage loans held for sale | 4,459 | 4,736 |
Bank owned life insurance contracts | 127,519 | 114,388 |
Available for sale debt securities, at fair value | 531,580 | 422,375 |
Held to maturity debt securities (fair value of $250 and $63,302 at December 31, 2017 and December 31, 2016, respectively) | 25,431 | |
Deposits | 6,086,085 | 5,417,320 |
Federal funds purchased | 301,797 | 355,944 |
Other borrowings | 65,921 | 54,203 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Debt securities available for sale | 6,500 | |
Debt securities held to maturity | 250 | 37,871 |
Available for sale debt securities, at fair value | 6,500 | |
Held to maturity debt securities (fair value of $250 and $63,302 at December 31, 2017 and December 31, 2016, respectively) | 250 | 37,871 |
Loans, net | $ 5,747,342 | $ 4,872,689 |
Note 24 - Parent Company Fin100
Note 24 - Parent Company Financial Information - Condensed Balance Sheets (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 |
ASSETS | ||||
Cash and due from banks | $ 86,213 | $ 56,855 | ||
Other assets | 27,598 | 18,317 | ||
Total assets | 7,082,384 | 6,370,448 | ||
LIABILITIES AND STOCKHOLDERS' EQUITY | ||||
Other liabilities | 11,506 | 11,641 | ||
Total liabilities | 6,474,780 | 5,847,559 | ||
Common stock, par value $0.001 per share; 100,000,000 shares authorized; 52,992,586 shares issued and outstanding at December 31, 2017 and 52,636,896 shares issued and outstanding at December 31, 2016 | 53 | 53 | ||
Additional paid-in capital | 217,693 | 215,932 | ||
Retained earnings | 389,554 | 307,151 | ||
Accumulated other comprehensive (loss) income | (198) | (624) | ||
Total stockholders' equity | 607,604 | 522,889 | $ 449,147 | $ 407,213 |
Total liabilities and stockholders' equity | 7,082,384 | 6,370,448 | ||
Series A Preferred Stock [Member] | ||||
LIABILITIES AND STOCKHOLDERS' EQUITY | ||||
Preferred stock | ||||
Parent Company [Member] | ||||
ASSETS | ||||
Cash and due from banks | 9,891 | 6,060 | ||
Investment in subsidiary | 665,192 | 574,261 | ||
Other assets | 368 | 375 | ||
Total assets | 675,451 | 580,696 | ||
LIABILITIES AND STOCKHOLDERS' EQUITY | ||||
Other borrowings | 64,632 | 54,663 | ||
Other liabilities | 3,717 | 3,521 | ||
Total liabilities | 68,349 | 58,184 | ||
Preferred stock | ||||
Common stock, par value $0.001 per share; 100,000,000 shares authorized; 52,992,586 shares issued and outstanding at December 31, 2017 and 52,636,896 shares issued and outstanding at December 31, 2016 | 53 | 53 | ||
Additional paid-in capital | 217,693 | 215,932 | ||
Retained earnings | 389,554 | 307,151 | ||
Accumulated other comprehensive (loss) income | (198) | (624) | ||
Total stockholders' equity | 607,102 | 522,512 | ||
Total liabilities and stockholders' equity | 675,451 | 580,696 | ||
Parent Company [Member] | Series A Preferred Stock [Member] | ||||
LIABILITIES AND STOCKHOLDERS' EQUITY | ||||
Preferred stock |
Note 24 - Parent Company Fin101
Note 24 - Parent Company Financial Information - Condensed Balance Sheets (Details) (Parentheticals) - USD ($) $ / shares in Units, $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Common stock, par value (in dollars per share) | $ 0.001 | $ 0.001 |
Common stock, shares authorized (in shares) | 100,000,000 | 100,000,000 |
Common stock, shares issued (in shares) | 52,992,586 | 52,636,896 |
Common stock, shares outstanding (in shares) | 52,992,586 | 52,636,896 |
Parent Company [Member] | ||
Preferred stock, par value (in dollars per share) | $ 0.001 | $ 0.001 |
Preferred stock, shares authorized (in shares) | 1,000,000 | 1,000,000 |
Preferred stock, shares undesignated (in shares) | 1,000,000 | 1,000,000 |
Common stock, par value (in dollars per share) | $ 0.001 | $ 0.001 |
Common stock, shares authorized (in shares) | 100,000,000 | 100,000,000 |
Common stock, shares issued (in shares) | 52,992,586 | 52,636,896 |
Common stock, shares outstanding (in shares) | 52,992,586 | 52,636,896 |
Series A Preferred Stock [Member] | ||
Preferred stock, par value (in dollars per share) | $ 0.001 | $ 0.001 |
Preferred stock, liquidation preference, value | $ 1,000 | $ 1,000 |
Preferred stock, shares authorized (in shares) | 0 | 0 |
Preferred stock, shares outstanding (in shares) | 0 | 0 |
Series A Preferred Stock [Member] | Parent Company [Member] | ||
Preferred stock, par value (in dollars per share) | $ 0.001 | $ 0.001 |
Preferred stock, liquidation preference, value | $ 1,000 | $ 1,000 |
Preferred stock, shares authorized (in shares) | 0 | 0 |
Preferred stock, shares issued (in shares) | 0 | 0 |
Preferred stock, shares outstanding (in shares) | 0 | 0 |
Note 24 - Parent Company Fin102
Note 24 - Parent Company Financial Information - Condensed Statements of Income (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Expense: | |||||||||||
Net income | $ 93,092 | $ 81,479 | $ 63,540 | ||||||||
Dividends on preferred stock | 62 | 47 | 280 | ||||||||
Net income available to common stockholders | $ 21,119 | $ 25,259 | $ 24,133 | $ 22,519 | $ 21,714 | $ 20,909 | $ 18,853 | $ 19,956 | 93,030 | 81,432 | 63,260 |
Parent Company [Member] | |||||||||||
Income: | |||||||||||
Dividends received from subsidiary | 6,500 | 2,500 | 20,000 | ||||||||
Other income | 2 | 2 | 1 | ||||||||
Total income | 6,502 | 2,502 | 20,001 | ||||||||
Expense: | |||||||||||
Other expenses | 2,260 | 2,208 | 1,603 | ||||||||
Total expenses | 2,260 | 2,208 | 1,603 | ||||||||
Equity in undistributed earnings of subsidiary | 88,788 | 81,138 | 45,095 | ||||||||
Net income | 93,030 | 81,432 | 63,493 | ||||||||
Dividends on preferred stock | 233 | ||||||||||
Net income available to common stockholders | $ 93,030 | $ 81,432 | $ 63,260 |
Note 24 - Parent Company Fin103
Note 24 - Parent Company Financial Information - Statements of Cash Flow (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Operating activities | |||
Net income | $ 93,092 | $ 81,479 | $ 63,540 |
Net cash provided by operating activities | 118,464 | 98,521 | 76,267 |
Investing activities | |||
Net cash used in investing activities | (1,042,248) | (861,649) | (749,480) |
Financing activities | |||
Proceeds from issuance of subordinated notes | 34,750 | ||
Redemption of subordinated notes | (20,000) | ||
Dividends paid on common stock | 10,040 | 7,858 | 5,883 |
Dividends paid on preferred stock | 62 | 47 | 280 |
Net cash provided by financing activities | 617,373 | 1,194,890 | 727,984 |
Increase (decrease) in cash and cash equivalents | (306,411) | 431,762 | 54,771 |
Cash and cash equivalents at beginning of year | 783,997 | 352,235 | 297,464 |
Cash and cash equivalents at end of year | 477,586 | 783,997 | 352,235 |
Parent Company [Member] | |||
Operating activities | |||
Net income | 93,030 | 81,432 | 63,493 |
Other | (314) | 1,442 | (271) |
Equity in undistributed earnings of subsidiary | (88,788) | (81,138) | (45,095) |
Net cash provided by operating activities | 3,928 | 1,736 | 18,127 |
Investing activities | |||
Investment in subsidiary | (36,000) | ||
Net cash paid in acquisition | (20,926) | ||
Other | 736 | ||
Net cash used in investing activities | (36,000) | (20,190) | |
Financing activities | |||
Proceeds from issuance of subordinated notes | 29,943 | 34,750 | |
Redemption of subordinated notes | (20,000) | ||
Redemption of preferred stock | (40,000) | ||
Dividends paid on common stock | (10,040) | (7,858) | (5,883) |
Dividends paid on preferred stock | (233) | ||
Net cash provided by financing activities | (97) | (7,858) | (11,366) |
Increase (decrease) in cash and cash equivalents | 3,831 | (42,122) | (13,429) |
Cash and cash equivalents at beginning of year | 6,060 | 48,182 | 61,611 |
Cash and cash equivalents at end of year | $ 9,891 | $ 6,060 | $ 48,182 |
Note 26 - Quarterly Financia104
Note 26 - Quarterly Financial Data (Unaudited) - Quarterly Financial Data (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Interest income | $ 72,060 | $ 67,641 | $ 63,538 | $ 59,517 | $ 56,200 | $ 54,691 | $ 52,050 | $ 49,961 | $ 262,756 | $ 212,902 | $ 179,975 |
Interest expense | 10,652 | 9,245 | 7,971 | 7,465 | 7,091 | 6,773 | 6,159 | 5,782 | 35,333 | 25,805 | 17,704 |
Net interest income | 61,408 | 58,396 | 55,567 | 52,052 | 49,109 | 47,918 | 45,891 | 44,179 | 227,423 | 187,097 | 162,271 |
Provision for loan losses | 9,055 | 4,803 | 4,381 | 4,986 | 4,075 | 3,464 | 3,800 | 2,059 | 23,225 | 13,398 | 12,847 |
Net income available to common stockholders | $ 21,119 | $ 25,259 | $ 24,133 | $ 22,519 | $ 21,714 | $ 20,909 | $ 18,853 | $ 19,956 | $ 93,030 | $ 81,432 | $ 63,260 |
Net income per common share, basic (in dollars per share) | $ 0.40 | $ 0.48 | $ 0.46 | $ 0.42 | $ 0.41 | $ 0.40 | $ 0.36 | $ 0.38 | $ 1.76 | $ 1.55 | $ 1.23 |
Net income per common share, diluted (in dollars per share) | $ 0.39 | $ 0.47 | $ 0.45 | $ 0.41 | $ 0.40 | $ 0.39 | $ 0.36 | $ 0.37 | $ 1.72 | $ 1.52 | $ 1.20 |