Document And Entity Information
Document And Entity Information - USD ($) | 12 Months Ended | ||
Dec. 31, 2019 | Feb. 21, 2020 | Jun. 30, 2019 | |
Document Information [Line Items] | |||
Entity Central Index Key | 0001430723 | ||
Entity Registrant Name | ServisFirst Bancshares, Inc. | ||
Amendment Flag | false | ||
Current Fiscal Year End Date | --12-31 | ||
Document Fiscal Period Focus | FY | ||
Document Fiscal Year Focus | 2019 | ||
Document Type | 10-K | ||
Document Annual Report | true | ||
Document Period End Date | Dec. 31, 2019 | ||
Document Transition Report | false | ||
Entity File Number | 001-36452 | ||
Entity Incorporation, State or Country Code | DE | ||
Entity Tax Identification Number | 26-0734029 | ||
Entity Address, Address Line One | 2500 Woodcrest Place | ||
Entity Address, City or Town | Birmingham | ||
Entity Address, State or Province | AL | ||
Entity Address, Postal Zip Code | 35209 | ||
City Area Code | 205 | ||
Local Phone Number | 949-0302 | ||
Title of 12(b) Security | Common stock, par value $.001 per share | ||
Trading Symbol | SFBS | ||
Security Exchange Name | NASDAQ | ||
Entity Well-known Seasoned Issuer | Yes | ||
Entity Voluntary Filers | No | ||
Entity Current Reporting Status | Yes | ||
Entity Interactive Data Current | Yes | ||
Entity Filer Category | Large Accelerated Filer | ||
Entity Small Business | false | ||
Entity Emerging Growth Company | false | ||
Entity Shell Company | false | ||
Entity Public Float | $ 1,581,146,000 | ||
Entity Common Stock, Shares Outstanding | 53,703,632 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
ASSETS | ||
Cash and due from banks | $ 78,618 | $ 97,516 |
Interest-bearing balances due from depository institutions | 451,509 | 360,534 |
Federal funds sold | 100,473 | 223,845 |
Cash and cash equivalents | 630,600 | 681,895 |
Available for sale debt securities, at fair value | 759,399 | 590,184 |
Held to maturity debt securities (fair value of $250 at December 31, 2019) | 250 | 0 |
Mortgage loans held for sale | 6,312 | 120 |
Loans | 7,261,451 | 6,533,499 |
Less allowance for loan losses | (76,584) | (68,600) |
Loans, net | 7,184,867 | 6,464,899 |
Premises and equipment, net | 56,496 | 57,822 |
Accrued interest and dividends receivable | 26,262 | 24,070 |
Deferred tax asset, net | 25,566 | 27,277 |
Other real estate owned and repossessed assets | 8,178 | 5,169 |
Bank owned life insurance contracts | 209,395 | 130,649 |
Goodwill and other identifiable intangible assets | 14,179 | 14,449 |
Other assets | 26,149 | 10,848 |
Total assets | 8,947,653 | 8,007,382 |
Liabilities: | ||
Non-interest-bearing demand | 1,749,879 | 1,557,341 |
Interest-bearing | 5,780,554 | 5,358,367 |
Total deposits | 7,530,433 | 6,915,708 |
Federal funds purchased | 470,749 | 288,725 |
Other borrowings | 64,703 | 64,666 |
Accrued interest and dividends payable | 11,934 | 10,381 |
Other liabilities | 27,152 | 12,699 |
Total liabilities | 8,104,971 | 7,292,179 |
Stockholders' equity: | ||
Preferred stock, par value $0.001 per share; 1,000,000 authorized and undesignated at December 31, 2019 and December 31, 2018 | 0 | 0 |
Common stock, par value $0.001 per share; 100,000,000 shares authorized; 53,623,740 shares issued and outstanding at December 31, 2019, and 53,375,195 shares issued and outstanding at December 31, 2018 | 54 | 53 |
Additional paid-in capital | 219,766 | 218,521 |
Retained earnings | 616,611 | 500,868 |
Accumulated other comprehensive income (loss) | 5,749 | (4,741) |
Total stockholders' equity attributable to ServisFirst Bancshares, Inc. | 842,180 | 714,701 |
Noncontrolling interest | 502 | 502 |
Total stockholders' equity | 842,682 | 715,203 |
Total liabilities and stockholders' equity | $ 8,947,653 | $ 8,007,382 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parentheticals) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Held to maturity debt securities, fair value | $ 250 | $ 0 |
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 |
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) | 53,623,740 | 53,375,195 |
Common stock, outstanding (in shares) | 53,623,740 | 53,375,195 |
Consolidated Statements of Inco
Consolidated Statements of Income - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Interest and fees on loans | $ 354,308 | $ 305,370 | $ 246,682 |
Taxable securities | 17,008 | 12,654 | 9,117 |
Nontaxable securities | 1,429 | 2,406 | 2,948 |
Federal funds sold | 6,038 | 3,103 | 1,693 |
Other interest and dividends | 12,020 | 3,094 | 2,316 |
Total interest income | 390,803 | 326,627 | 262,756 |
Deposits | 90,958 | 55,502 | 28,831 |
Borrowed funds | 12,200 | 8,446 | 6,502 |
Total interest expense | 103,158 | 63,948 | 35,333 |
Net interest income | 287,645 | 262,679 | 227,423 |
Provision for loan losses | 22,638 | 21,402 | 23,225 |
Net interest income after provision for loan losses | 265,007 | 241,277 | 204,198 |
Securities gains | 27 | 190 | 0 |
Increase in cash surrender value life insurance | 3,746 | 3,130 | 3,131 |
Other operating income | 1,743 | 1,239 | 1,099 |
Total noninterest income | 23,982 | 19,440 | 17,361 |
Salaries and employee benefits | 57,783 | 51,849 | 47,604 |
Equipment and occupancy expense | 9,272 | 8,423 | 8,018 |
Professional services | 4,235 | 3,646 | 3,217 |
FDIC and other regulatory assessments | 2,975 | 3,869 | 3,918 |
Other real estate owned expense | 415 | 790 | 323 |
Other operating expenses | 27,448 | 23,298 | 21,129 |
Total noninterest expenses | 102,128 | 91,875 | 84,209 |
Income before income taxes | 186,861 | 168,842 | 137,350 |
Provision for income taxes | 37,618 | 31,902 | 44,258 |
Net income | 149,243 | 136,940 | 93,092 |
Dividends on preferred stock | 63 | 63 | 62 |
Net income available to common stockholders | $ 149,180 | $ 136,877 | $ 93,030 |
Basic earnings per common share (in dollars per share) | $ 2.79 | $ 2.57 | $ 1.76 |
Diluted earnings per common share (in dollars per share) | $ 2.76 | $ 2.53 | $ 1.72 |
Deposit Account [Member] | |||
Noninterest income | $ 7,029 | $ 6,547 | $ 5,702 |
Mortgage Banking [Member] | |||
Noninterest income | 4,361 | 2,784 | 3,835 |
Credit Card [Member] | |||
Noninterest income | $ 7,076 | $ 5,550 | $ 3,594 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Net income | $ 149,243 | $ 136,940 | $ 93,092 |
Other comprehensive income (loss), net of tax: | |||
Unrealized net holding gains (losses) arising during period from securities available for sale, net of tax of $2,788, $(1,205) and $(362) for 2019, 2018 and 2017, respectively | 10,511 | (4,531) | (674) |
Reduction in unrealized loss related to held to maturity debt securities transferred to available for sale, net of tax of $592 | 0 | 0 | 1,100 |
Reclassification adjustment for net gains on sale of securities available for sale, net of tax of $6 and $3 for 2019 and 2018, respectively | (21) | (12) | 0 |
Other comprehensive income (loss), net of tax | 10,490 | (4,543) | 426 |
Comprehensive income | $ 159,733 | $ 132,397 | $ 93,518 |
Consolidated Statements of Co_2
Consolidated Statements of Comprehensive Income (Parentheticals) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Unrealized holding gain (loss) from available for sale securities, tax | $ 2,788 | $ (1,205) | $ (362) |
Reduction in unrealized loss related to held to maturity debt securities transferred to available for sale, tax | $ 592 | ||
Reclassification adjustment for net (gains) losses on sale of securities available for sale, tax | $ 6 | $ 3 |
Consolidated Statement of Stock
Consolidated Statement of Stockholders' Equity - USD ($) $ in Thousands | 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, 2016 | $ 0 | $ 53 | $ 215,932 | $ 307,151 | $ (624) | $ 377 | $ 522,889 |
Common dividends paid | 0 | 0 | 0 | (7,935) | 0 | 0 | (7,935) |
Common dividends declared | 0 | 0 | 0 | (2,649) | 0 | 0 | (2,649) |
Preferred dividends paid | 0 | 0 | 0 | (62) | 0 | 0 | (62) |
Issue shares of common stock upon exercise of stock options | 0 | 0 | 1,911 | 0 | 0 | 0 | 1,911 |
Shares of common stock withheld in net settlement upon exercise of stock options | 0 | 0 | (1,320) | 0 | 0 | 0 | (1,320) |
Issue shares of REIT preferred stock | 0 | 0 | 0 | 0 | 0 | 125 | 125 |
Stock-based compensation expense | 0 | 0 | 1,170 | 0 | 0 | 0 | 1,170 |
Other comprehensive income, net of tax | 0 | 0 | 0 | 0 | 383 | 0 | 383 |
Reclassification of the disproportionate tax effect of enactment of the Tax Cuts and Jobs Act of 2017 | 0 | 0 | 0 | (43) | 43 | 0 | 0 |
Net income | 0 | 0 | 0 | 93,092 | 0 | 0 | 93,092 |
Other comprehensive loss, net of tax | 426 | ||||||
Balance at Dec. 31, 2017 | 0 | 53 | 217,693 | 389,554 | (198) | 502 | 607,604 |
Common dividends paid | 0 | 0 | 0 | (17,545) | 0 | 0 | (17,545) |
Common dividends declared | 0 | 0 | 0 | (8,018) | 0 | 0 | (8,018) |
Preferred dividends paid | 0 | 0 | 0 | (63) | 0 | 0 | (63) |
Issue shares of common stock upon exercise of stock options | 0 | 0 | 2,337 | 0 | 0 | 0 | 2,337 |
Shares of common stock withheld in net settlement upon exercise of stock options | 0 | 0 | (2,360) | 0 | 0 | 0 | (2,360) |
Stock-based compensation expense | 0 | 0 | 851 | 0 | 0 | 0 | 851 |
Net income | 0 | 0 | 0 | 136,940 | 0 | 0 | 136,940 |
Other comprehensive loss, net of tax | 0 | 0 | 0 | 0 | (4,543) | 0 | (4,543) |
Balance at Dec. 31, 2018 | 0 | 53 | 218,521 | 500,868 | (4,741) | 502 | 715,203 |
Common dividends paid | 0 | 0 | 0 | (24,053) | 0 | 0 | (24,053) |
Common dividends declared | 0 | 0 | 0 | (9,384) | 0 | 0 | (9,384) |
Preferred dividends paid | 0 | 0 | 0 | (63) | 0 | 0 | (63) |
Issue shares of common stock upon exercise of stock options | 0 | 1 | 2,122 | 0 | 0 | 0 | 2,123 |
Shares of common stock withheld in net settlement upon exercise of stock options | 0 | 0 | (1,977) | 0 | 0 | 0 | (1,977) |
Stock-based compensation expense | 0 | 0 | 1,100 | 0 | 0 | 0 | 1,100 |
Net income | 0 | 0 | 0 | 149,243 | 0 | 0 | 149,243 |
Other comprehensive loss, net of tax | 10,490 | ||||||
Other comprehensive income, net of tax | 0 | 0 | 0 | 0 | 10,490 | 0 | 10,490 |
Balance at Dec. 31, 2019 | $ 0 | $ 54 | $ 219,766 | $ 616,611 | $ 5,749 | $ 502 | $ 842,682 |
Consolidated Statement of Sto_2
Consolidated Statement of Stockholders' Equity (Parentheticals) - $ / shares | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Common Stock [Member] | |||
Issuance of common stock, shares (in shares) | 228,381 | 353,259 | 385,500 |
Additional Paid-in Capital [Member] | |||
Shares withholed in net settlement upon exercise of stock options (in shares) | 60,419 | 61,077 | 35,010 |
Noncontrolling Interest [Member] | |||
Issuance of REIT preferred stock, shares (in shares) | 125 | ||
Common dividends, per share (in dollars per share) | $ 0.45 | $ 0.33 | $ 0.15 |
Common dividends, per share declared (in dollars per share) | $ 0.175 | $ 0.15 | $ 0.05 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flow - USD ($) | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
OPERATING ACTIVITIES | ||
Net income | $ 149,243,000 | $ 136,940,000 |
Adjustments to reconcile net income to net cash provided by | ||
Deferred tax expense (benefit) | (1,077,000) | (14,255,000) |
Provision for loan losses | 22,638,000 | 21,402,000 |
Depreciation | 3,682,000 | 3,378,000 |
Accretion on acquired loans | (90,000) | (163,000) |
Amortization of core deposit intangible | 270,000 | 270,000 |
Net amortization of debt securities available for sale | 3,095,000 | 2,843,000 |
Increase in accrued interest and dividends receivable | (2,192,000) | (3,409,000) |
Stock-based compensation expense | 1,100,000 | 851,000 |
Increase in accrued interest payable | 1,553,000 | 5,410,000 |
Proceeds from sale of mortgage loans held for sale | 135,359,000 | 106,806,000 |
Originations of mortgage loans held for sale | (137,190,000) | (99,683,000) |
Net gain on sale of debt securities available for sale | (27,000) | (15,000) |
Gain on sale of equity securities | 0 | (175,000) |
Gain on sale of mortgage loans held for sale | (4,361,000) | (2,784,000) |
Net (gain) loss on sale of other real estate owned and repossessed assets | (122,000) | 21,000 |
Write down of other real estate owned and repossessed assets | 287,000 | 664,000 |
Operating losses of tax credit partnerships | 8,000 | 163,000 |
Increase in cash surrender value of life insurance contracts | (3,746,000) | (3,130,000) |
Net change in other assets, liabilities, and other operating activities | (4,155,000) | 13,167,000 |
Net cash provided by operating activities | 164,275,000 | 168,301,000 |
INVESTMENT ACTIVITIES | ||
Purchase of debt securities available for sale | (293,832,000) | (156,815,000) |
Proceeds from maturities, calls and paydowns of debt securities available for sale | 97,732,000 | 91,787,000 |
Proceeds from sale of debt securities available for sale | 38,453,000 | 5,736,000 |
Purchase of debt securities held to maturity | (250,000) | 0 |
Proceeds from sale of equity securities | 0 | 304,000 |
Proceeds from maturities, calls and paydowns of debt securities held to maturity | 0 | 250,000 |
Purchase of BOLI contracts | (75,000,000) | 0 |
Increase in loans | (754,533,000) | (696,701,000) |
Purchase of premises and equipment | (2,356,000) | (2,300,000) |
Expenditures to complete construction of other real estate owned | 0 | (7,000) |
Proceeds from sale of other real estate owned and repossessed assets | 1,437,000 | 3,272,000 |
Net cash used in investing activities | (988,349,000) | (754,474,000) |
FINANCING ACTIVITIES | ||
Net increase in non-interest-bearing deposits | 192,538,000 | 117,015,000 |
Net increase in interest-bearing deposits | 422,187,000 | 707,019,000 |
Net increase (decrease) in federal funds purchased | 182,024,000 | (13,072,000) |
Repayment of Federal Home Loan Bank advances | 0 | (200,000) |
Proceeds from exercise of stock options | 2,123,000 | 2,337,000 |
Taxes paid in net settlement of tax obligation upon exercise of stock options | (1,977,000) | (2,360,000) |
Dividends paid on common stock | (24,053,000) | (20,194,000) |
Dividends paid on preferred stock | (63,000) | (63,000) |
Net cash provided by financing activities | 772,779,000 | 790,482,000 |
Net (decrease) increase in cash and cash equivalents | (51,295,000) | 204,309,000 |
Cash and cash equivalents at beginning of period | 681,895,000 | 477,586,000 |
Cash and cash equivalents at end of period | 630,600,000 | 681,895,000 |
Cash paid for: | ||
Interest | 101,605,000 | 58,538,000 |
Income taxes | 42,232,000 | 30,547,000 |
Income tax refund | (86,000) | (2,000) |
NONCASH TRANSACTIONS | ||
Other real estate acquired in settlement of loans | 4,611,000 | 3,080,000 |
Internally financed sale of other real estate owned | 0 | 662,000 |
Dividends declared | $ 9,384,000 | $ 8,018,000 |
Note 1 - Summary of Significant
Note 1 - Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | NOTE 1 . SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Nature of Operations ServisFirst Bancshares, Inc. (the “Company”) was formed on August 16, 2007 May 2005. 1, 1, 11. Reclassification Certain amounts reported in prior years have been reclassified to conform to the current year’s presentation. These reclassifications had no 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 $33.9 million at December 31, 2019 December 31, 2018. 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 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, 2019 2018. 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 to 39.5 years). Leasehold improvements are amortized on a straight-line basis over the lesser of the lease terms or the estimated useful lives of the improvements. Leases The Company leases certain office space and equipment under operating leases. Accounting Standards Update 2016 02, Leases (Topic 842 ) January 1, 2019 Certain of the leases include one not not None The Company has made an accounting policy election to not 2016 02 1 2 3 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 years and the estimated useful life is periodically reviewed for reasonableness. The Company has recorded $13.6 million of goodwill at December 31, 2019 2015. not 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, 2019 2018 not not Revenue Recognition Accounting Standards Codification (“ASC”) Topic 606, Revenue from Contracts with Customers (“ASC 606” The majority of revenue-generating transactions are excluded from the scope of ASC 606, 606, • Deposit account service charges – represent service fees for monthly activity and maintenance on customer accounts. Attributes can be transaction-based, item-based or time-based. Revenue is recognized when our performance obligation is completed which is generally monthly for maintenance services or when a transaction is processed. Payment for such performance obligations are generally received at the time the performance obligations are satisfied. • Credit card rewards program membership fees – represent memberships in our credit card rewards program and are paid annually by our cardholders at the time they open an account and on each anniversary. Revenue is recognized ratably over the membership period. Other non-interest income primarily includes income on bank owned life insurance contracts, letter of credit fees and gains on sale of loans held for sale, none 606. 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 Stock-Based Compensation At December 31, 2019, 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 21. 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, 2019, 2018 2017 Recently Adopted Accounting Pronouncements In February 2016, 2016 02, Leases (Topic 842 December 15, 2018. not January 1, 2019. three 1 2 3 January 1, 2019 6 In March 2017, 2017 08, Receivables – Nonrefundable Fees and Other Costs (Subtopic 310 20 not December 15, 2018. not first In June 2018, 2018 07, Compensation – Stock Compensation (Topic 718 718, 505 50, December 15, 2018. no 606, January 1, 2019; not not Recent Accounting Pronouncements In June 2016, 2016 13, Financial Instruments-Credit Losses (Topic 326 January 1, 2020. January 1, 2020. The Company’s CECL implementation team includes leadership from Accounting, Credit Administration and Risk Management. This group has worked closely with a third one Credit losses for loans that no one The estimation methodology for credit losses on lending-related commitments will be similar to the process for estimating credit losses for loans, with the addition of a probability of draw estimate that will be applied to each commitment amount. Based upon the nature and characteristics of our securities portfolios at the adoption date, the macroeconomic conditions and forecasts at that date, and other management judgments, the Company does not CECL parallel comparisons were performed and enhanced throughout 2019, second third fourth fourth The Company will continue to enhance key implementation initiatives during the first 2020, 2016 13 not In July 2018, 2018 13, Fair Value Measurement (Topic 820 no 1 2 3 No. 2018 13 December 15, 2019; No. 2018 13 not |
Note 2 - Debt Securities
Note 2 - Debt Securities | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | NOTE 2. DEBT SECURITIES The amortized cost and fair values of available-for-sale and held-to-maturity debt securities at December 31, 2019 2018 Gross Gross Amortized Unrealized Unrealized Market Cost Gain Loss Value December 31, 2019 (In Thousands) Securities Available for Sale U.S. Treasury Securities $ 48,923 $ 291 $ (4 ) $ 49,210 Government Agency Securities 18,245 143 (2 ) 18,386 Mortgage-backed securities 470,513 4,859 (1,318 ) 474,054 State and municipal securities 56,951 335 (14 ) 57,272 Corporate debt 157,549 3,098 (170 ) 160,477 Total $ 752,181 $ 8,726 $ (1,508 ) $ 759,399 Debt Securities Held to Maturity State and municipal securities 250 - - 250 Total $ 250 $ - $ - $ 250 December 31, 2018 Securities Available for Sale U.S Treasury Securities $ 58,750 $ 75 $ (397 ) $ 58,428 Government Agency Securities 18,784 3 (222 ) 18,565 Mortgage-backed securities 309,244 591 (5,531 ) 304,304 State and municipal securities 106,465 208 (679 ) 105,994 Corporate debt 102,982 668 (757 ) 102,893 Total $ 596,225 $ 1,545 $ (7,586 ) $ 590,184 Securities Held to Maturity State and municipal securities - - - - Total $ - $ - $ - $ - 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 2019 2018, no 10% The amortized cost and fair value of debt securities as of December 31, 2019 2018 may may December 31, 2019 December 31, 2018 Amortized Cost Market Value Amortized Cost Market Value (In Thousands) Debt securities available for sale Due within one year $ 58,722 $ 58,975 $ 38,343 $ 38,225 Due from one to five years 90,034 91,005 167,873 166,380 Due from five to ten years 129,501 131,914 77,811 78,276 Due after ten years 3,411 3,451 2,954 2,999 Mortgage-backed securities 470,513 474,054 309,244 304,304 $ 752,181 $ 759,399 $ 596,225 $ 590,184 Debt securities held to maturity Due from one to five years $ 250 $ 250 $ - $ - $ 250 $ 250 $ - $ - 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, 2019 2018. not not not not may not December 31, 2019. December 31, 2019, 2018 2017. 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, 2019 U.S. Treasury Securities $ (4 ) $ 3,012 $ - $ - $ (4 ) $ 3,012 Government Agency Securities (2 ) 266 - - (2 ) 266 Mortgage-backed securities (1,206 ) 153,330 (112 ) 24,911 (1,318 ) 178,241 State and municipal securities (4 ) 1,900 (10 ) 2,647 (14 ) 4,547 Corporate debt (170 ) 19,981 - - (170 ) 19,981 Total $ (1,386 ) $ 178,489 $ (122 ) $ 27,558 $ (1,508 ) $ 206,047 December 31, 2018 U.S. Treasury Securities $ (8 ) $ 1,001 $ (388 ) $ 32,449 $ (397 ) $ 34,206 Government Agency Securities - - (223 ) 18,429 (222 ) 17,673 Mortgage-backed securities (539 ) 67,721 (4,992 ) 204,260 (5,531 ) 271,981 State and municipal securities (101 ) 20,821 (578 ) 52,190 (679 ) 73,011 Corporate debt (315 ) 36,245 (442 ) 13,474 (757 ) 49,718 Total $ (963 ) $ 125,788 $ (6,623 ) $ 320,802 $ (7,586 ) $ 446,590 At December 31, 2019, 12 The following table summarizes information about sales of debt securities available for sale. Years Ended December 31, 2019 2018 2017 (In Thousands) Sale proceeds $ 38,453 $ 5,736 $ 3,500 Gross realized gains $ 27 $ 15 $ - Gross realized losses - - - Net realized gain (loss) $ 27 $ 15 $ - 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, 2019 2018 |
Note 3 - Loans
Note 3 - Loans | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | NOTE 3. LOANS The composition of loans at December 31, 2019 2018 December 31, 2019 2018 (In Thousands) Commercial, financial and agricultural $ 2,696,210 $ 2,513,225 Real estate - construction 521,392 533,192 Real estate - mortgage: Owner-occupied commercial 1,587,478 1,463,887 1-4 family mortgage 644,188 621,634 Other mortgage 1,747,394 1,337,068 Total real estate - mortgage 3,979,060 3,422,589 Consumer 64,789 64,493 Total Loans 7,261,451 6,533,499 Less: Allowance for loan losses (76,584 ) (68,600 ) Net Loans $ 7,184,867 $ 6,464,899 Changes in the allowance for loan losses during the years ended December 31, 2019, 2018 2017, Years Ended December 31, 2019 2018 2017 (In Thousands) Balance, beginning of year $ 68,600 $ 59,406 $ 51,893 Loans charged off (22,489 ) (12,753 ) (16,332 ) Recoveries 429 545 620 Allocation from LGP 7,406 - - Provision for loan losses 22,638 21,402 23,225 Balance, end of year $ 76,584 $ 68,600 $ 59,406 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 Commercial and industrial loans may may Real estate construction loans Real estate mortgage loans may Consume r loans During the third 2019, 50% not December 31, 2019, The following table presents an analysis of the allowance for loan losses by portfolio segment as of December 31, 2019 2018. Changes in the allowance for loan losses, segregated by loan type, during the years ended December 31, 2019 2018, Commercial, financial and Real estate - Real estate - agricultural construction mortgage Consumer Total (In Thousands) Year Ended December 31, 2019 Allowance for loan losses: Balance at December 31, 2018 $ 39,016 $ 3,522 $ 25,508 $ 554 $ 68,600 Charge-offs (15,015 ) - (6,882 ) (592 ) (22,489 ) Recoveries 306 3 13 107 429 Allocation from LGP 4,905 115 2,386 - 7,406 Provision 14,454 (872 ) 8,628 428 22,638 Balance at December 31, 2019 $ 43,666 $ 2,768 $ 29,653 $ 497 $ 76,584 December 31, 2019 Individually Evaluated for Impairment $ 6,085 $ 86 $ 3,633 $ - $ 9,804 Collectively Evaluated for Impairment 37,581 2,682 26,020 497 66,780 Loans: Ending Balance $ 2,696,210 $ 521,392 $ 3,979,060 $ 64,789 $ 7,261,451 Individually Evaluated for Impairment 20,843 4,320 17,985 - 43,148 Collectively Evaluated for Impairment 2,675,367 517,072 3,961,075 64,789 7,218,303 Year Ended December 31, 2018 Allowance for loan losses: Balance at December 31, 2017 $ 32,880 $ 4,989 $ 21,022 $ 515 $ 59,406 Charge-offs (11,428 ) - (1,042 ) (283 ) (12,753 ) Recoveries 349 112 46 38 545 Provision 17,215 (1,579 ) 5,482 284 21,402 Balance at December 31, 2018 $ 39,016 $ 3,522 $ 25,508 $ 554 $ 68,600 December 31, 2018 Individually Evaluated for Impairment $ 6,066 $ 126 $ 1,887 $ 49 $ 8,128 Collectively Evaluated for Impairment 32,950 3,396 23,621 505 60,472 Loans: Ending Balance $ 2,513,225 $ 533,192 $ 3,422,589 $ 64,493 $ 6,533,499 Individually Evaluated for Impairment 18,444 1,461 18,637 49 38,591 Collectively Evaluated for Impairment 2,494,781 531,731 3,403,952 64,444 6,494,908 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, 2019 2018 Special December 31, 2019 Pass Mention Substandard Doubtful Total (In Thousands) Commercial, financial and agricultural $ 2,629,487 $ 46,176 $ 20,547 $ - $ 2,696,210 Real estate - construction 512,373 4,731 4,288 - 521,392 Real estate - mortgage: Owner-occupied commercial 1,555,283 18,240 13,955 - 1,587,478 1-4 family mortgage 639,959 2,787 1,442 - 644,188 Other mortgage 1,735,869 10,018 1,507 - 1,747,394 Total real estate - mortgage 3,931,111 31,045 16,904 - 3,979,060 Consumer 64,789 - - - 64,789 Total $ 7,137,760 $ 81,952 $ 41,739 $ - $ 7,261,451 Special December 31, 2018 Pass Mention Substandard Doubtful Total (In Thousands) Commercial, financial and agricultural $ 2,447,052 $ 47,754 $ 18,419 $ - $ 2,513,225 Real estate - construction 525,021 6,749 1,422 - 533,192 Real estate - mortgage: Owner-occupied commercial 1,431,982 28,547 3,358 - 1,463,887 1-4 family mortgage 616,884 2,703 2,047 - 621,634 Other mortgage 1,309,101 16,506 11,461 - 1,337,068 Total real estate - mortgage 3,357,967 47,756 16,866 - 3,422,589 Consumer 64,444 - 49 - 64,493 Total $ 6,394,484 $ 102,259 $ 36,756 $ - $ 6,533,499 Nonperforming loans include nonaccrual loans and loans 90 December 31, 2019 2018 December 31, 2019 Performing Nonperforming Total (In Thousands) Commercial, financial and agricultural $ 2,681,280 $ 14,930 $ 2,696,210 Real estate - construction 519,804 1,588 521,392 Real estate - mortgage: Owner-occupied commercial 1,576,652 10,826 1,587,478 1-4 family mortgage 641,875 2,313 644,188 Other mortgage 1,740,963 6,431 1,747,394 Total real estate - mortgage 3,959,490 19,570 3,979,060 Consumer 64,766 23 64,789 Total $ 7,225,339 $ 36,112 $ 7,261,451 December 31, 2018 Performing Nonperforming Total (In Thousands) Commercial, financial and agricultural $ 2,502,117 $ 11,108 $ 2,513,225 Real estate - construction 532,195 997 533,192 Real estate - mortgage: Owner-occupied commercial 1,460,529 3,358 1,463,887 1-4 family mortgage 619,465 2,169 621,634 Other mortgage 1,327,038 10,030 1,337,068 Total real estate - mortgage 3,407,032 15,557 3,422,589 Consumer 64,385 108 64,493 Total $ 6,505,729 $ 27,770 $ 6,533,499 Loans by past due status as of December 31, 2019 2018 December 31, 2019 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 $ 3,135 $ 344 $ 201 $ 3,680 $ 14,729 $ 2,677,801 $ 2,696,210 Real estate - construction 830 - - 830 1,588 518,974 521,392 Real estate - mortgage: Owner-occupied commercial 917 7,242 - 8,159 10,826 1,568,493 1,587,478 1-4 family mortgage 1,638 567 873 3,078 1,440 639,670 644,188 Other mortgage - - 4,924 4,924 1,507 1,740,963 1,747,394 Total real estate - mortgage 2,555 7,809 5,797 16,161 13,773 3,949,126 3,979,060 Consumer 35 25 23 83 - 64,706 64,789 Total $ 6,555 $ 8,178 $ 6,021 $ 20,754 $ 30,091 $ 7,210,606 $ 7,261,451 December 31, 2018 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 $ 1,222 $ 48 $ 605 $ 1,875 $ 10,503 $ 2,500,847 $ 2,513,225 Real estate - construction - 1,352 - 1,352 997 530,843 533,192 Real estate - mortgage: Owner-occupied commercial 412 - - 412 3,358 1,460,117 1,463,887 1-4 family mortgage 534 235 123 892 2,046 618,696 621,634 Other mortgage 1,174 - 5,008 6,182 5,022 1,325,864 1,337,068 Total real estate - mortgage 2,120 235 5,131 7,486 10,426 3,404,677 3,422,589 Consumer 58 123 108 289 - 64,204 64,493 Total $ 3,400 $ 1,758 $ 5,844 $ 11,002 $ 21,926 $ 6,500,571 $ 6,533,499 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, 2019 2018, not December 31, 2019 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 $ 9,015 $ 10,563 $ - $ 11,284 $ 562 Real estate - construction 2,731 2,735 - 2,063 126 Real estate - mortgage: Owner-occupied commercial 7,150 7,246 - 7,548 618 1-4 family mortgage 287 287 - 289 2 Other mortgage - - - - - Total real estate - mortgage 7,437 7,533 - 7,837 620 Consumer - - - - - Total with no allowance recorded 19,183 20,831 - 21,184 1,308 With an allowance recorded: Commercial, financial and agricultural 11,828 19,307 6,085 19,714 395 Real estate - construction 1,589 1,589 86 1,614 27 Real estate - mortgage: Owner-occupied commercial 7,888 11,028 2,456 13,627 301 1-4 family mortgage 1,153 1,153 176 1,157 1 Other mortgage 1,507 1,507 1,001 1,468 21 Total real estate - mortgage 10,548 13,688 3,633 16,252 323 Consumer - - - - - Total with allowance recorded 23,965 34,584 9,804 37,580 745 Total Impaired Loans: Commercial, financial and agricultural 20,843 29,870 6,085 30,998 957 Real estate - construction 4,320 4,324 86 3,677 153 Real estate - mortgage: Owner-occupied commercial 15,038 18,274 2,456 21,175 919 1-4 family mortgage 1,440 1,440 176 1,446 3 Other mortgage 1,507 1,507 1,001 1,468 21 Total real estate - mortgage 17,985 21,221 3,633 24,089 943 Consumer - - - - - Total impaired loans $ 43,148 $ 55,415 $ 9,804 $ 58,764 $ 2,053 December 31, 2018 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 $ 6,064 $ 6,064 $ - $ 6,142 $ 237 Real estate - construction 464 467 - 524 28 Real estate - mortgage: Owner-occupied commercial 1,763 1,947 - 2,223 120 1-4 family mortgage 1,071 1,071 - 1,088 21 Other mortgage 5,061 5,061 - 5,133 252 Total real estate - mortgage 7,895 8,079 - 8,444 393 Consumer - - - - - Total with no allowance recorded 14,423 14,610 - 15,110 658 With an allowance recorded: Commercial, financial and agricultural 12,380 20,141 6,066 15,918 462 Real estate - construction 997 997 126 997 31 Real estate - mortgage: Owner-occupied commercial 3,358 3,358 99 3,364 105 1-4 family mortgage 975 975 208 975 30 Other mortgage 6,409 6,409 1,580 6,598 217 Total real estate - mortgage 10,742 10,742 1,887 10,937 352 Consumer 49 49 49 49 3 Total with allowance recorded 24,168 31,929 8,128 27,901 848 Total Impaired Loans: Commercial, financial and agricultural 18,444 26,205 6,066 22,060 699 Real estate - construction 1,461 1,464 126 1,521 59 Real estate - mortgage: Owner-occupied commercial 5,121 5,305 99 5,587 225 1-4 family mortgage 2,046 2,046 208 2,063 51 Other mortgage 11,470 11,470 1,580 11,731 469 Total real estate - mortgage 18,637 18,821 1,887 19,381 745 Consumer 49 49 49 49 3 Total impaired loans $ 38,591 $ 46,539 $ 8,128 $ 43,011 $ 1,506 Troubled Debt Restructurings (“TDR”) at December 31, 2019 2018 December 31, 2019 2018, 2019. December 31, 2019 2018 Year Ended December 31, 2019 Pre- Post- Modification Modification Outstanding Outstanding Number of Recorded Recorded Contracts Investment Investment (In Thousands) Troubled Debt Restructurings Commercial, financial and agricultural 3 $ 3,415 $ 3,415 Real estate - construction - - - Real estate - mortgage: Owner-occupied commercial - - - 1-4 family mortgage - - - Other mortgage - - - Total real estate - mortgage - - - Consumer - - - 3 $ 3,415 $ 3,415 Year ended December 31, 2018 Pre- Post- Modification Modification Outstanding Outstanding Number of Recorded Recorded Contracts Investment Investment Commercial, financial and agricultural 6 $ 7,242 $ 7,242 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 $ 12,753 $ 12,753 The following table presents TDRs by portfolio segment which defaulted during the years ended December 31, 2019 2018, twelve twelve 90 Year Ended December 31, 2019 2018 Defaulted during the period, where modified in a TDR twelve months prior to default Commercial, financial and agricultural $ 491 $ 6,900 Real estate - construction - 997 Real estate - mortgage: Owner occupied commercial 726 3,664 1-4 family mortgage - 850 Other mortgage - - Total real estate - mortgage 726 4,514 Consumer - - $ 1,217 $ 12,411 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, 2019 2018 Years Ended December 31, 2019 2018 (In Thousands) Balance, beginning of year $ 5,428 $ 8,440 Additions 17,794 4,174 Advances 4,861 3,657 Repayments (3,400 ) (10,843 ) Removal (2 ) - Balance, end of year $ 24,681 $ 5,428 |
Note 4 - Foreclosed Properties
Note 4 - Foreclosed Properties | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Real Estate Disclosure [Text Block] | NOTE 4 . FORECLOSED PROPERTIES 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, 2019, 2018 2017 2019 2018 2017 (In Thousands) Balance at beginning of year $ 5,169 $ 6,701 $ 4,988 Transfers from loans and capitalized expenses 4,611 3,087 4,685 Foreclosed properties sold (1,437 ) (3,934 ) (2,982 ) Write downs and partial liquidations (165 ) (685 ) 10 Balance at end of year $ 8,178 $ 5,169 $ 6,701 |
Note 5 - Premises and Equipment
Note 5 - Premises and Equipment | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Property, Plant and Equipment Disclosure [Text Block] | NOTE 5 . PREMISES AND EQUIPMENT Premises and equipment are summarized as follows: December 31, 2019 2018 (In Thousands) Land $ 5,830 $ 5,489 Building 36,365 36,337 Furniture and equipment 26,153 24,774 Leasehold improvements 10,681 10,190 Construction in progress 23 200 Total premises and equipment, cost 79,052 76,990 Accumulated depreciation (22,556 ) (19,168 ) Total premises and equipment, net $ 56,496 $ 57,822 The provisions for depreciation charged to occupancy and equipment expense for the years ended December 31, 2019, 2018 2017 |
Note 6 - Leases
Note 6 - Leases | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Lessee, Operating Leases [Text Block] | NOTE 6. LEASES The Company leases space under non-cancelable operating leases for several of its banking offices and certain office equipment. The Company reports its right-of-use asset in other assets and its lease liabilities in other liabilities in its Consolidated Balance Sheet. Supplemental balance sheet information related to operating leases is as follows: December 31, 2019 Right-of-use assets $ 13,292 Lease liabilities $ 13,350 Weighted average remaining lease term 5.5 Weighted average discount rate 3.18 % Lease costs during the year ended December 31, 2019 2019 Operating lease cost $ 3,421 Short-term lease cost 65 Variable lease cost 154 Sublease income (70 ) Net lease cost $ 3,570 Maturities of operating lease liabilities as of December 31, 2019 (In Thousands) 2020 $ 3,005 2021 2,383 2022 2,425 2023 2,024 2024 1,074 Thereafter 2,439 Total $ 13,350 |
Note 7 - Variable Interest Enti
Note 7 - Variable Interest Entities (VIEs) | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Disclosure of Variable Interest Entities [Text Block] | NOTE 7 . VARIABLE INTEREST ENTITIES (VIEs) 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 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 not December 31, 2019 2018 December 31, 2019 2018, |
Note 8 - Deposits
Note 8 - Deposits | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Deposit Liabilities Disclosures [Text Block] | NOTE 8 . DEPOSITS Deposits at December 31, 2019 2018 December 31, 2019 2018 (In Thousands) Noninterest-bearing demand $ 1,749,879 $ 1,557,341 Interest-bearing checking 4,986,193 4,624,909 Savings 65,808 53,880 Time deposits, $250,000 and under 267,221 257,925 Time deposits, over $250,000 461,332 421,653 Total $ 7,530,433 $ 6,915,708 The scheduled maturities of time deposits at December 31, 2019 (In Thousands) 2020 $ 415,448 2021 172,030 2022 57,820 2023 58,812 2024 24,443 Total $ 728,553 At December 31, 2019 2018, |
Note 9 - Federal Funds Purchase
Note 9 - Federal Funds Purchased | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Federal Funds Purchased [Text Block] | NOTE 9 . FEDERAL FUNDS PURCHASED At December 31, 2019, December 31, 2018. December 31, 2019 December 31, 2018. At December 31, 2019, December 31, 2018. December 31, 2019, January 2, 2020. |
Note 10 - Other Borrowings
Note 10 - Other Borrowings | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Short-term Debt [Text Block] | NOTE 10 . OTHER BORROWINGS Other borrowings are comprised of: ● $34.75 million of the Company’s 5% Subordinated Notes due July 15, 2025, July 2015 may not July 15, 2020. ● $30.0 million on the Company’s 4.5% Subordinated Notes due November 8, 2027, November 2017 may not November 8, 2022. Debt is reported net of unamortized issuance costs of $47,000 and $84,000 as of December 31, 2019 2018, |
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, 2019 | |
Notes to Financial Statements | |
Investments in Subsidiaries [Text Block] | NOTE 1 1 . SF INTERMEDIATE HOLDING COMPANY, INC., SF HOLDING 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 - Derivatives
Note 12 - Derivatives | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Derivative Instruments and Hedging Activities Disclosure [Text Block] | NOTE 1 2 . DERIVATIVES 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, 2019 December 31, 2018 not |
Note 13 - Employee and Director
Note 13 - Employee and Director Benefits | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Share-based Payment Arrangement [Text Block] | NOTE 13. EMPLOYEE AND DIRECTOR BENEFITS The Company has a stock incentive plan, which is described below. The compensation cost that has been charged against income for the plan was approximately $1,100,000, $851,000 and $1,170,000 for the years ended December 31, 2019, 2018 2017, Stock Incentive Plan On March 23, 2009, 2009 2009 2009 2014, As of December 31, 2019, 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 2019, 2018 2017 2019 2018 2017 Expected price volatility 40.00 % 35.39 % 29.00 % Expected dividend yield 1.76 % 1.24 % 0.44 % Expected term (in years) 7 6 6 Risk-free rate 1.96 % 2.90 % 2.08 % The weighted average grant-date fair value of options granted during the years ended December 31, 2019, 2018 2017 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, 2019: Outstanding at beginning of year 1,238,748 $ 13.02 5.2 $ 23,355 Granted 35,500 34.06 9.6 129 Exercised (288,800 ) 7.56 2.5 8,534 Forfeited (20,200 ) 24.88 6.2 259 Outstanding at end of year 965,248 $ 15.19 4.9 $ 21,911 Exercisable at December 31, 2019: 278,500 $ 8.28 3.0 $ 8,355 Year Ended December 31, 2018: Outstanding at beginning of year 1,666,834 $ 10.68 5.5 $ 51,377 Granted 42,250 37.21 9.6 - Exercised (414,336 ) 5.73 2.8 10,832 Forfeited (56,000 ) 15.40 6.2 912 Outstanding at end of year 1,238,748 $ 13.02 5.2 $ 23,355 Exercisable at December 31, 2018: 510,100 $ 7.08 3.5 $ 12,645 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 Exercisable options at December 31, 2019 Range of Exercise Price Shares Weighted Average Exercise Price Weighted Average Remaining Contractual Term (years) Aggregate Intrinsic Value (In Thousands) $ 4.17 5,500 $ 4.17 1.0 $ 199 5.00 79,500 5.00 2.1 3,022 5.50 80,000 5.50 2.2 2,362 6.92 37,500 6.92 4.0 1,154 15.25 50,000 15.25 5.0 1,121 18.57 26,000 18.57 3.5 497 278,500 $ 8.28 3.0 $ 8,355 As of December 31, 2019, December 31, 2019, Restricted Stock The Company periodically grants restricted stock awards that vest upon service conditions. Dividend payments are made during the vesting period. The following table summarizes restricted stock activity: Shares Weighted Average Grant Date Fair Value Year Ended December 31, 2019: Non-vested at beginning of year 42,576 $ 29.96 Granted 35,164 33.61 Vested (5,450 ) 20.92 Forfeited (2,500 ) 38.17 Non-vested at end of year 69,790 $ 32.21 Year Ended December 31, 2018: Non-vested at beginning of year 120,676 $ 10.29 Granted 16,350 39.84 Vested (93,200 ) 6.07 Forfeited (1,250 ) 41.21 Non-vested at end of year 42,576 $ 29.96 Year Ended December 31, 2017: Non-vested at beginning of year 118,676 $ 8.88 Granted 7,000 38.02 Vested (5,000 ) 15.74 Non-vested at end of year 120,676 $ 10.29 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, 2019, December 31, 2019, Retirement Plans The Company has a retirement savings 401 21 may one June 15, 2005, may 2019, 2018 2017, |
Note 14 - Regulatory Matters
Note 14 - Regulatory Matters | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Regulatory Capital Requirements under Banking Regulations [Text Block] | NOTE 1 4 . REGULATORY MATTERS 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 December 31, 2019. 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, 2019, In July 2013, January 1, 2015, 1, three CET1, 1 January 1, 2016 January 1, 2019, 1 December 31, 2019 As of December 31, 2019, CET1, 1 1 December 31, 2019. The Company’s and Bank’s actual capital amounts and ratios are presented in the following table: Actual For Capital Adequacy Purposes To Be Well Capitalized Under Prompt Corrective Action Provisions Amount Ratio Amount Ratio Amount Ratio As of December 31, 2019: CET I Capital to Risk Weighted Assets: Consolidated $ 822,396 10.50 % $ 342,283 4.50 % N/A N/A ServisFirst Bank 885,172 11.30 % 342,269 4.50 % $ 494,389 6.50 % Tier I Capital to Risk Weighted Assets: Consolidated 822,896 10.50 % 456,377 6.00 % N/A N/A ServisFirst Bank 885,674 11.31 % 456,359 6.00 % 608,479 8.00 % Total Capital to Risk Weighted Assets: Consolidated 964,683 12.31 % 608,502 8.00 % N/A N/A ServisFirst Bank 962,758 12.29 % 608,479 8.00 % 760,598 10.00 % Tier I Capital to Average Assets: Consolidated 822,896 9.13 % 356,012 4.00 % N/A N/A ServisFirst Bank 885,674 9.83 % 355,998 4.00 % 444,997 5.00 % As of December 31, 2018: CET I Capital to Risk Weighted Assets: Consolidated $ 705,203 10.12 % $ 313,564 4.50 % N/A N/A ServisFirst Bank 768,614 11.03 % 313,554 4.50 % $ 452,911 6.50 % Tier I Capital to Risk Weighted Assets: Consolidated 705,705 10.13 % 418,086 6.00 % N/A N/A ServisFirst Bank 769,116 11.04 % 418,071 6.00 % 557,428 8.00 % Total Capital to Risk Weighted Assets: Consolidated 839,471 12.05 % 557,448 8.00 % N/A N/A ServisFirst Bank 838,216 12.03 % 557,428 8.00 % 696,786 10.00 % Tier I Capital to Average Assets: Consolidated 705,705 9.07 % 311,214 4.00 % N/A N/A ServisFirst Bank 769,116 9.89 % 311,206 4.00 % 389,007 5.00 % |
Note 15 - Other Operating Incom
Note 15 - Other Operating Income and Expenses | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Other Operating Income (Expense) 1 [Text Block] | NOTE 1 5 . OTHER OPERATING INCOME AND EXPENSES The major components of other operating income and expense included in noninterest income and noninterest expense are as follows: Years Ended December 31, 2019 2018 2017 (In Thousands) Other Operating Income ATM fee income $ 1,477 $ 876 $ 711 Gain (loss) on sale of fixed assets 5 - 1 Other 261 363 387 Total other operating income $ 1,743 $ 1,239 $ 1,099 Other Operating Expenses Data processing $ 8,801 $ 6,667 $ 5,454 Other loan expenses 3,476 2,711 2,170 Customer and public relations 2,545 2,182 2,008 Bank service charges 2,432 2,004 1,522 Sales and use tax 640 733 1,167 Write-down investment in tax credit partnerships 746 750 1,081 Telephone 1,131 919 990 Donations and contributions 837 859 744 Marketing 581 557 716 Supplies 572 550 595 Fraud and forgery losses 577 464 515 Directors fees 545 467 472 Postage 393 439 441 Other operational losses 36 519 167 Other 4,136 3,477 3,087 Total other operating expenses $ 27,448 $ 23,298 $ 21,129 |
Note 16 - Income Taxes
Note 16 - Income Taxes | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | NOTE 1 6 . INCOME TAXES The components of income tax expense are as follows: Year Ended December 31, 2019 2018 2017 (In Thousands) Current tax expense: Federal $ 36,683 $ 43,207 $ 27,952 State 2,012 2,950 2,258 Total current tax expense 38,695 46,157 30,210 Deferred tax (benefit) expense: Federal (166 ) (12,636 ) 17,073 State (911 ) (1,619 ) (3,025 ) Total deferred tax (benefit) expense (1,077 ) (14,255 ) 14,048 Total income tax expense $ 37,618 $ 31,902 $ 44,258 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, 2019 Amount % of Pre-tax Earnings (In Thousands) Income tax at statutory federal rate $ 39,241 21.00 % Effect on rate of: State income tax, net of federal tax effect 822 0.44 % Tax-exempt income, net of expenses (461 ) (0.25 )% Bank owned life insurance contracts (787 ) (0.42 )% Excess tax benefit from stock compensation (1,405 ) (0.75 )% Federal tax credits (170 ) (0.09 )% Other 378 0.20 % Effective income tax and rate $ 37,618 20.13 % Year Ended December 31, 2018 Amount % of Pre-tax Earnings (In Thousands) Income tax at statutory federal rate $ 35,457 21.00 % Effect on rate of: State income tax, net of federal tax effect 808 0.48 % Tax-exempt income, net of expenses (655 ) (0.39 )% Bank owned life insurance contracts (657 ) (0.39 )% Excess tax benefit from stock compensation (3,118 ) (1.84 )% Federal tax credits (113 ) (0.07 )% Other 180 0.10 % Effective income tax and rate $ 31,902 18.89 % Year Ended December 31, 2017 Amount % of Pre-tax Earnings (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 % The components of net deferred tax asset are as follows: December 31, 2019 2018 (In Thousands) Deferred tax assets: Allowance for loan losses $ 17,733 $ 17,212 Other real estate owned 225 317 Nonqualified equity awards 953 788 Nonaccrual interest 231 311 State tax credits 7,787 6,791 Investments 1,119 1,130 Deferred loan fees 891 804 Reserve for unfunded commitments 183 135 Accrued bonus 2,029 2,025 Differences in amounts reflected in financial statements and income tax basis of assets acquired and liabilities assumed in acquisition 121 139 Net unrealized loss on securities available for sale - 1,273 Other deferred tax assets 487 669 Total deferred tax assets 31,759 31,594 Deferred tax liabilities: Net unrealized gain on securities available for sale 1,515 - Depreciation 4,021 3,732 Prepaid expenses 516 376 Acquired intangible assets 141 209 Total deferred tax liabilities 6,193 4,317 Net deferred tax assets $ 25,566 $ 27,277 The Company believes its net deferred tax asset is recoverable as of December 31, 2019 Pursuant to ASC 740 10 30 2 Income Taxes December 22, 2017, 2018” December 31, 2017. December 31, 2017, 2017. 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, 2016 2019. December 31, 2016 2019. no Accrued interest and penalties on unrecognized income tax benefits totaled $135,000 and $106,000 as of December 31, 2019 2018, December 31, 2019 December 31, 2018, not twelve The following table presents a summary of the changes during 2019, 2018 2017 2019 2018 2017 (In Thousands) Balance, beginning of year $ 2,133 $ 1,779 $ 1,375 Increases related to prior year tax positions 998 799 365 Decreases related to prior year tax positions - - - Increases related to current year tax positions - - - Settlements - - - Enacted tax rate change - - 315 Lapse of statute (448 ) (445 ) (276 ) Balance, end of year $ 2,683 $ 2,133 $ 1,779 |
Note 17 - Commitments and Conti
Note 17 - Commitments and Contingencies | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | NOTE 1 7 . COMMITMENTS AND CONTINGENCIES 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: 2019 2018 2017 (In Thousands) Commitments to extend credit $ 2,303,788 $ 1,985,801 $ 1,945,171 Credit card arrangements 248,617 173,613 128,149 Standby letters of credit and financial guarantees 48,394 40,590 41,654 Total $ 2,600,799 $ 2,200,004 $ 2,114,974 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 18 - Concentrations of Cre
Note 18 - Concentrations of Credit | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Concentration Risk Disclosure [Text Block] | NOTE 18 . CONCENTRATIONS OF CREDIT 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 19 - Earnings Per Common S
Note 19 - Earnings Per Common Share | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | NOTE 19. 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. The difference in earnings per share under the two not December 31, 2019, 2018 2017. Year Ended December 31, 2019 2018 2017 (Dollar Amounts In Thousands Except Per Share Amounts) Earnings Per Share Weighted average common shares outstanding 53,530,766 53,172,695 52,887,359 Net income available to common stockholders $ 149,180 $ 136,877 $ 93,030 Basic earnings per common share $ 2.79 2.57 $ 1.76 Weighted average common shares outstanding 53,530,766 53,172,695 52,887,359 Dilutive effects of assumed conversions and exercise of stock options and warrants 572,308 997,184 1,236,598 Weighted average common and dilutive potential common shares outstanding 54,103,074 54,169,879 54,123,957 Net income available to common stockholders $ 149,180 $ 136,877 $ 93,030 Diluted earnings per common share $ 2.76 $ 2.53 $ 1.72 |
Note 20 - Related Party Transac
Note 20 - Related Party Transactions | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Related Party Transactions Disclosure [Text Block] | NOTE 2 0 . RELATED PARTY TRANSACTIONS As more fully described in Note 3, December 31, 2019 2018 December 31, 2019 2018, |
Note 21 - Fair Value Measuremen
Note 21 - Fair Value Measurement | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | NOTE 21. FAIR VALUE MEASUREMENT 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 December 31, 2019 2018, Other Real Estate Owned not 3 December 31, 2019 2018, 3 There was one December 31, 2019, December 31, 2018. One residential real estate loan for $287,000 was in the process of being foreclosed as of December 31, 2019. The following table presents the Company’s financial assets and financial liabilities carried at fair value on a recurring basis as of December 31, 2019 December 31, 2018: Fair Value Measurements at December 31, 2019 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 securities $ - $ 49,210 $ - $ 49,210 Government agency securities 18,386 18,386 Mortgage-backed securities - 474,054 - 474,054 State and municipal securities - 57,272 - 57,272 Corporate debt - 153,881 6,596 160,477 Total assets at fair value $ - $ 752,803 $ 6,596 $ 759,399 Fair Value Measurements at December 31, 2018 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 securities $ - $ 58,428 $ - $ 58,428 Government agency securities 18,565 18,565 Mortgage-backed securities - 304,304 - 304,304 State and municipal securities - 105,994 - 105,994 Corporate debt - 96,375 6,518 102,893 Total assets at fair value $ - $ 583,666 $ 6,518 $ 590,184 The carrying amount and estimated fair value of the Company’s financial instruments were as follows: Fair Value Measurements at December 31, 2019 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 $ - - $ 33,344 $ 33,344 Other real estate owned and repossessed assets - - 8,178 8,178 Total assets at fair value - - $ 41,522 $ 41,522 Fair Value Measurements at December 31, 2018 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 $ - $ - $ 30,463 $ 30,463 Other real estate owned - - 5,169 5,169 Total assets at fair value $ - $ - $ 35,632 $ 35,632 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: Debt securities: 1 1 not may 2 1 2 not 3 Equity securities: Mortgage loans held for sale: 30 The carrying amount, estimated fair value and placement in the fair value hierarchy of the Company’s financial instruments as of December 31, 2019 December 31, 2018 not December 31, 2019 2018 Carrying Amount Fair Value Carrying Amount Fair Value (In Thousands) Financial Assets: Level 1 Inputs: Cash and cash equivalents $ 530,127 $ 530,127 $ 458,050 $ 458,050 Level 2 Inputs: Debt securities available for sale $ 752,803 $ 752,803 $ 583,666 $ 583,666 Equity securities - - 894 894 Federal funds sold 100,473 100,473 223,845 223,845 Mortgage loans held for sale 6,302 6,312 120 121 Level 3 Inputs: Debt securities available for sale $ 6,596 $ 6,596 $ 6,518 $ 6,518 Debt securities held to maturity 250 250 - - Loans, net 7,184,867 7,132,542 6,464,899 6,398,604 Financial Liabilities: Level 2 Inputs: Deposits $ 7,530,433 $ 7,534,984 $ 6,915,708 $ 6,910,176 Federal funds purchased 470,749 470,749 288,725 288,725 Other borrowings 64,703 65,048 64,666 64,613 |
Note 22 - Parent Company Financ
Note 22 - Parent Company Financial Information | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Condensed Financial Information of Parent Company Only Disclosure [Text Block] | NOTE 2 2 . PARENT COMPANY FINANCIAL INFORMATION The following information presents the condensed balance sheet of the Company as of December 31, 2019 2018 December 31, 2019, 2018 2017. CONDENSED BALANCE SHEETS (In Thousands) December 31, 2019 December 31, 2018 ASSETS Cash and due from banks $ 10,071 $ 9,034 Investment in subsidiary 904,958 778,112 Other assets 1,238 239 Total assets $ 916,267 $ 787,385 LIABILITIES AND STOCKHOLDERS' EQUITY Liabilities: Other borrowings $ 64,703 $ 64,666 Other liabilities 9,384 8,018 Total liabilities 74,087 72,684 Stockholders' equity: Preferred stock, par value $0.001 per share; 1,000,000 authorized and undesignated at December 31, 2019 and December 31, 2018 - - Common stock, par value $0.001 per share; 100,000,000 shares authorized; 53,623,740 shares issued and outstanding at December 31, 2019 and 53,375,195 shares issued and outstanding at December 31, 2018 54 53 Additional paid-in capital 219,766 218,521 Retained earnings 616,611 500,868 Accumulated other comprehensive (loss) income 5,749 (4,741 ) Total stockholders' equity 842,180 714,701 Total liabilities and stockholders' equity $ 916,267 $ 787,385 CONDENSED STATEMENTS OF INCOME FOR THE YEARS ENDED DECEMBER 31, 2019, 2018 2017 (In Thousands) 2019 2018 2017 Income: Dividends received from subsidiary $ 37,000 $ 23,000 $ 6,500 Other income - 176 2 Total income 37,000 23,176 6,502 Expense: Other expenses 2,930 2,933 2,260 Total expenses 2,930 2,933 2,260 Equity in undistributed earnings of subsidiary 115,110 116,634 88,788 Net income 149,180 136,877 93,030 Dividends on preferred stock - - - Net income available to common stockholders $ 149,180 $ 136,877 $ 93,030 STATEMENTS OF CASH FLOW FOR THE YEARS ENDED DECEMBER 31, 2019, 2018 2017 (In Thousands) 2019 2018 2017 Operating activities Net income $ 149,180 $ 136,877 $ 93,030 Adjustments to reconcile net income to net cash provided by operating activities: Other 38 (1,181 ) (314 ) Equity in undistributed earnings of subsidiary (115,110 ) (116,634 ) (88,788 ) Net cash provided by operating activities 34,108 19,062 3,928 Investing activities Investment in subsidiary - - - Other (1,000 ) 275 - Net cash used in investing activities (1,000 ) 275 - Financing activities Proceeds from issuance of subordinated notes - - 29,943 Redemption of subordinated notes - - (20,000 ) Dividends paid on common stock (32,071 ) (20,194 ) (10,040 ) Net cash provided by financing activities (32,071 ) (20,194 ) (97 ) Increase (decrease) in cash and cash equivalents 1,037 (857 ) 3,831 Cash and cash equivalents at beginning of year 9,034 9,891 6,060 Cash and cash equivalents at end of year $ 10,071 $ 9,034 $ 9,891 |
Note 23 - Quarterly Financial D
Note 23 - Quarterly Financial Data (Unaudited) | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Quarterly Financial Information [Text Block] | NOTE 23. QUARTERLY FINANCIAL DATA (UNAUDITED) 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 2019 Quarter Ended (Dollars in thousands, except per share data) March 31 June 30 September 30 December 31 Interest income $ 93,699 $ 97,787 $ 101,130 $ 98,187 Interest expense 24,921 27,702 28,125 22,410 Net interest income 68,778 70,085 73,005 75,777 Provision for loan losses 4,885 4,884 6,985 5,884 Net income available to common stockholders 35,010 35,602 37,563 41,005 Net income per common share, basic $ 0.65 $ 0.67 $ 0.70 $ 0.77 Net income per common share, diluted $ 0.65 $ 0.66 $ 0.69 $ 0.76 2018 Quarter Ended (Dollars in thousands, except per share data) March 31 June 30 September 30 December 31 Interest income $ 74,009 $ 78,396 $ 84,058 $ 90,164 Interest expense 11,573 13,874 17,195 21,306 Net interest income 62,436 64,522 66,863 68,858 Provision for loan losses 4,139 4,121 6,624 6,518 Net income available to common stockholders 32,603 33,509 34,560 36,205 Net income per common share, basic $ 0.61 $ 0.63 $ 0.65 $ 0.68 Net income per common share, diluted $ 0.60 $ 0.62 $ 0.64 $ 0.67 |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2019 | |
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. |
Reclassification, Policy [Policy Text Block] | Reclassification Certain amounts reported in prior years have been reclassified to conform to the current year’s presentation. These reclassifications had no |
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 $33.9 million at December 31, 2019 December 31, 2018. |
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 |
Mortgage Banking Activity [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, 2019 2018. |
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 |
Financing Receivable, Real Estate Acquired Through Foreclosure [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 to 39.5 years). Leasehold improvements are amortized on a straight-line basis over the lesser of the lease terms or the estimated useful lives of the improvements. |
Lessee, Leases [Policy Text Block] | Leases The Company leases certain office space and equipment under operating leases. Accounting Standards Update 2016 02, Leases (Topic 842 ) January 1, 2019 Certain of the leases include one not not None The Company has made an accounting policy election to not 2016 02 1 2 3 |
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 years and the estimated useful life is periodically reviewed for reasonableness. The Company has recorded $13.6 million of goodwill at December 31, 2019 2015. not |
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, 2019 2018 not not |
Revenue from Contract with Customer [Policy Text Block] | Revenue Recognition Accounting Standards Codification (“ASC”) Topic 606, Revenue from Contracts with Customers (“ASC 606” The majority of revenue-generating transactions are excluded from the scope of ASC 606, 606, • Deposit account service charges – represent service fees for monthly activity and maintenance on customer accounts. Attributes can be transaction-based, item-based or time-based. Revenue is recognized when our performance obligation is completed which is generally monthly for maintenance services or when a transaction is processed. Payment for such performance obligations are generally received at the time the performance obligations are satisfied. • Credit card rewards program membership fees – represent memberships in our credit card rewards program and are paid annually by our cardholders at the time they open an account and on each anniversary. Revenue is recognized ratably over the membership period. Other non-interest income primarily includes income on bank owned life insurance contracts, letter of credit fees and gains on sale of loans held for sale, none 606. |
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 |
Share-based Payment Arrangement [Policy Text Block] | Stock-Based Compensation At December 31, 2019, 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 21. |
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 Cost [Policy Text Block] | Advertising Advertising costs are expensed as incurred. Advertising expense for the years ended December 31, 2019, 2018 2017 |
New Accounting Pronouncements, Policy [Policy Text Block] | Recently Adopted Accounting Pronouncements In February 2016, 2016 02, Leases (Topic 842 December 15, 2018. not January 1, 2019. three 1 2 3 January 1, 2019 6 In March 2017, 2017 08, Receivables – Nonrefundable Fees and Other Costs (Subtopic 310 20 not December 15, 2018. not first In June 2018, 2018 07, Compensation – Stock Compensation (Topic 718 718, 505 50, December 15, 2018. no 606, January 1, 2019; not not Recent Accounting Pronouncements In June 2016, 2016 13, Financial Instruments-Credit Losses (Topic 326 January 1, 2020. January 1, 2020. The Company’s CECL implementation team includes leadership from Accounting, Credit Administration and Risk Management. This group has worked closely with a third one Credit losses for loans that no one The estimation methodology for credit losses on lending-related commitments will be similar to the process for estimating credit losses for loans, with the addition of a probability of draw estimate that will be applied to each commitment amount. Based upon the nature and characteristics of our securities portfolios at the adoption date, the macroeconomic conditions and forecasts at that date, and other management judgments, the Company does not CECL parallel comparisons were performed and enhanced throughout 2019, second third fourth fourth The Company will continue to enhance key implementation initiatives during the first 2020, 2016 13 not In July 2018, 2018 13, Fair Value Measurement (Topic 820 no 1 2 3 No. 2018 13 December 15, 2019; No. 2018 13 not |
Note 2 - Debt Securities (Table
Note 2 - Debt Securities (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Notes Tables | |
Unrealized Gain (Loss) on Investments [Table Text Block] | Gross Gross Amortized Unrealized Unrealized Market Cost Gain Loss Value December 31, 2019 (In Thousands) Securities Available for Sale U.S. Treasury Securities $ 48,923 $ 291 $ (4 ) $ 49,210 Government Agency Securities 18,245 143 (2 ) 18,386 Mortgage-backed securities 470,513 4,859 (1,318 ) 474,054 State and municipal securities 56,951 335 (14 ) 57,272 Corporate debt 157,549 3,098 (170 ) 160,477 Total $ 752,181 $ 8,726 $ (1,508 ) $ 759,399 Debt Securities Held to Maturity State and municipal securities 250 - - 250 Total $ 250 $ - $ - $ 250 December 31, 2018 Securities Available for Sale U.S Treasury Securities $ 58,750 $ 75 $ (397 ) $ 58,428 Government Agency Securities 18,784 3 (222 ) 18,565 Mortgage-backed securities 309,244 591 (5,531 ) 304,304 State and municipal securities 106,465 208 (679 ) 105,994 Corporate debt 102,982 668 (757 ) 102,893 Total $ 596,225 $ 1,545 $ (7,586 ) $ 590,184 Securities Held to Maturity State and municipal securities - - - - Total $ - $ - $ - $ - |
Fair Value, Assets Measured on Recurring Basis [Table Text Block] | December 31, 2019 December 31, 2018 Amortized Cost Market Value Amortized Cost Market Value (In Thousands) Debt securities available for sale Due within one year $ 58,722 $ 58,975 $ 38,343 $ 38,225 Due from one to five years 90,034 91,005 167,873 166,380 Due from five to ten years 129,501 131,914 77,811 78,276 Due after ten years 3,411 3,451 2,954 2,999 Mortgage-backed securities 470,513 474,054 309,244 304,304 $ 752,181 $ 759,399 $ 596,225 $ 590,184 Debt securities held to maturity Due from one to five years $ 250 $ 250 $ - $ - $ 250 $ 250 $ - $ - |
Gain (Loss) on Securities [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, 2019 U.S. Treasury Securities $ (4 ) $ 3,012 $ - $ - $ (4 ) $ 3,012 Government Agency Securities (2 ) 266 - - (2 ) 266 Mortgage-backed securities (1,206 ) 153,330 (112 ) 24,911 (1,318 ) 178,241 State and municipal securities (4 ) 1,900 (10 ) 2,647 (14 ) 4,547 Corporate debt (170 ) 19,981 - - (170 ) 19,981 Total $ (1,386 ) $ 178,489 $ (122 ) $ 27,558 $ (1,508 ) $ 206,047 December 31, 2018 U.S. Treasury Securities $ (8 ) $ 1,001 $ (388 ) $ 32,449 $ (397 ) $ 34,206 Government Agency Securities - - (223 ) 18,429 (222 ) 17,673 Mortgage-backed securities (539 ) 67,721 (4,992 ) 204,260 (5,531 ) 271,981 State and municipal securities (101 ) 20,821 (578 ) 52,190 (679 ) 73,011 Corporate debt (315 ) 36,245 (442 ) 13,474 (757 ) 49,718 Total $ (963 ) $ 125,788 $ (6,623 ) $ 320,802 $ (7,586 ) $ 446,590 |
Schedule of Realized Gain (Loss) [Table Text Block] | Years Ended December 31, 2019 2018 2017 (In Thousands) Sale proceeds $ 38,453 $ 5,736 $ 3,500 Gross realized gains $ 27 $ 15 $ - Gross realized losses - - - Net realized gain (loss) $ 27 $ 15 $ - |
Note 3 - Loans (Tables)
Note 3 - Loans (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Notes Tables | |
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | December 31, 2019 2018 (In Thousands) Commercial, financial and agricultural $ 2,696,210 $ 2,513,225 Real estate - construction 521,392 533,192 Real estate - mortgage: Owner-occupied commercial 1,587,478 1,463,887 1-4 family mortgage 644,188 621,634 Other mortgage 1,747,394 1,337,068 Total real estate - mortgage 3,979,060 3,422,589 Consumer 64,789 64,493 Total Loans 7,261,451 6,533,499 Less: Allowance for loan losses (76,584 ) (68,600 ) Net Loans $ 7,184,867 $ 6,464,899 |
Schedule of Allowance for Loan Losses [Table Text Block] | Years Ended December 31, 2019 2018 2017 (In Thousands) Balance, beginning of year $ 68,600 $ 59,406 $ 51,893 Loans charged off (22,489 ) (12,753 ) (16,332 ) Recoveries 429 545 620 Allocation from LGP 7,406 - - Provision for loan losses 22,638 21,402 23,225 Balance, end of year $ 76,584 $ 68,600 $ 59,406 |
Financing Receivable, Allowance for Credit Loss [Table Text Block] | Commercial, financial and Real estate - Real estate - agricultural construction mortgage Consumer Total (In Thousands) Year Ended December 31, 2019 Allowance for loan losses: Balance at December 31, 2018 $ 39,016 $ 3,522 $ 25,508 $ 554 $ 68,600 Charge-offs (15,015 ) - (6,882 ) (592 ) (22,489 ) Recoveries 306 3 13 107 429 Allocation from LGP 4,905 115 2,386 - 7,406 Provision 14,454 (872 ) 8,628 428 22,638 Balance at December 31, 2019 $ 43,666 $ 2,768 $ 29,653 $ 497 $ 76,584 December 31, 2019 Individually Evaluated for Impairment $ 6,085 $ 86 $ 3,633 $ - $ 9,804 Collectively Evaluated for Impairment 37,581 2,682 26,020 497 66,780 Loans: Ending Balance $ 2,696,210 $ 521,392 $ 3,979,060 $ 64,789 $ 7,261,451 Individually Evaluated for Impairment 20,843 4,320 17,985 - 43,148 Collectively Evaluated for Impairment 2,675,367 517,072 3,961,075 64,789 7,218,303 Year Ended December 31, 2018 Allowance for loan losses: Balance at December 31, 2017 $ 32,880 $ 4,989 $ 21,022 $ 515 $ 59,406 Charge-offs (11,428 ) - (1,042 ) (283 ) (12,753 ) Recoveries 349 112 46 38 545 Provision 17,215 (1,579 ) 5,482 284 21,402 Balance at December 31, 2018 $ 39,016 $ 3,522 $ 25,508 $ 554 $ 68,600 December 31, 2018 Individually Evaluated for Impairment $ 6,066 $ 126 $ 1,887 $ 49 $ 8,128 Collectively Evaluated for Impairment 32,950 3,396 23,621 505 60,472 Loans: Ending Balance $ 2,513,225 $ 533,192 $ 3,422,589 $ 64,493 $ 6,533,499 Individually Evaluated for Impairment 18,444 1,461 18,637 49 38,591 Collectively Evaluated for Impairment 2,494,781 531,731 3,403,952 64,444 6,494,908 |
Financing Receivable Credit Quality Indicators [Table Text Block] | Special December 31, 2019 Pass Mention Substandard Doubtful Total (In Thousands) Commercial, financial and agricultural $ 2,629,487 $ 46,176 $ 20,547 $ - $ 2,696,210 Real estate - construction 512,373 4,731 4,288 - 521,392 Real estate - mortgage: Owner-occupied commercial 1,555,283 18,240 13,955 - 1,587,478 1-4 family mortgage 639,959 2,787 1,442 - 644,188 Other mortgage 1,735,869 10,018 1,507 - 1,747,394 Total real estate - mortgage 3,931,111 31,045 16,904 - 3,979,060 Consumer 64,789 - - - 64,789 Total $ 7,137,760 $ 81,952 $ 41,739 $ - $ 7,261,451 Special December 31, 2018 Pass Mention Substandard Doubtful Total (In Thousands) Commercial, financial and agricultural $ 2,447,052 $ 47,754 $ 18,419 $ - $ 2,513,225 Real estate - construction 525,021 6,749 1,422 - 533,192 Real estate - mortgage: Owner-occupied commercial 1,431,982 28,547 3,358 - 1,463,887 1-4 family mortgage 616,884 2,703 2,047 - 621,634 Other mortgage 1,309,101 16,506 11,461 - 1,337,068 Total real estate - mortgage 3,357,967 47,756 16,866 - 3,422,589 Consumer 64,444 - 49 - 64,493 Total $ 6,394,484 $ 102,259 $ 36,756 $ - $ 6,533,499 |
Financing Receivable, Credit Substitute, Credit Quality Indicator [Table Text Block] | December 31, 2019 Performing Nonperforming Total (In Thousands) Commercial, financial and agricultural $ 2,681,280 $ 14,930 $ 2,696,210 Real estate - construction 519,804 1,588 521,392 Real estate - mortgage: Owner-occupied commercial 1,576,652 10,826 1,587,478 1-4 family mortgage 641,875 2,313 644,188 Other mortgage 1,740,963 6,431 1,747,394 Total real estate - mortgage 3,959,490 19,570 3,979,060 Consumer 64,766 23 64,789 Total $ 7,225,339 $ 36,112 $ 7,261,451 December 31, 2018 Performing Nonperforming Total (In Thousands) Commercial, financial and agricultural $ 2,502,117 $ 11,108 $ 2,513,225 Real estate - construction 532,195 997 533,192 Real estate - mortgage: Owner-occupied commercial 1,460,529 3,358 1,463,887 1-4 family mortgage 619,465 2,169 621,634 Other mortgage 1,327,038 10,030 1,337,068 Total real estate - mortgage 3,407,032 15,557 3,422,589 Consumer 64,385 108 64,493 Total $ 6,505,729 $ 27,770 $ 6,533,499 |
Financing Receivable, Past Due [Table Text Block] | December 31, 2019 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 $ 3,135 $ 344 $ 201 $ 3,680 $ 14,729 $ 2,677,801 $ 2,696,210 Real estate - construction 830 - - 830 1,588 518,974 521,392 Real estate - mortgage: Owner-occupied commercial 917 7,242 - 8,159 10,826 1,568,493 1,587,478 1-4 family mortgage 1,638 567 873 3,078 1,440 639,670 644,188 Other mortgage - - 4,924 4,924 1,507 1,740,963 1,747,394 Total real estate - mortgage 2,555 7,809 5,797 16,161 13,773 3,949,126 3,979,060 Consumer 35 25 23 83 - 64,706 64,789 Total $ 6,555 $ 8,178 $ 6,021 $ 20,754 $ 30,091 $ 7,210,606 $ 7,261,451 December 31, 2018 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 $ 1,222 $ 48 $ 605 $ 1,875 $ 10,503 $ 2,500,847 $ 2,513,225 Real estate - construction - 1,352 - 1,352 997 530,843 533,192 Real estate - mortgage: Owner-occupied commercial 412 - - 412 3,358 1,460,117 1,463,887 1-4 family mortgage 534 235 123 892 2,046 618,696 621,634 Other mortgage 1,174 - 5,008 6,182 5,022 1,325,864 1,337,068 Total real estate - mortgage 2,120 235 5,131 7,486 10,426 3,404,677 3,422,589 Consumer 58 123 108 289 - 64,204 64,493 Total $ 3,400 $ 1,758 $ 5,844 $ 11,002 $ 21,926 $ 6,500,571 $ 6,533,499 |
Impaired Financing Receivables [Table Text Block] | December 31, 2019 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 $ 9,015 $ 10,563 $ - $ 11,284 $ 562 Real estate - construction 2,731 2,735 - 2,063 126 Real estate - mortgage: Owner-occupied commercial 7,150 7,246 - 7,548 618 1-4 family mortgage 287 287 - 289 2 Other mortgage - - - - - Total real estate - mortgage 7,437 7,533 - 7,837 620 Consumer - - - - - Total with no allowance recorded 19,183 20,831 - 21,184 1,308 With an allowance recorded: Commercial, financial and agricultural 11,828 19,307 6,085 19,714 395 Real estate - construction 1,589 1,589 86 1,614 27 Real estate - mortgage: Owner-occupied commercial 7,888 11,028 2,456 13,627 301 1-4 family mortgage 1,153 1,153 176 1,157 1 Other mortgage 1,507 1,507 1,001 1,468 21 Total real estate - mortgage 10,548 13,688 3,633 16,252 323 Consumer - - - - - Total with allowance recorded 23,965 34,584 9,804 37,580 745 Total Impaired Loans: Commercial, financial and agricultural 20,843 29,870 6,085 30,998 957 Real estate - construction 4,320 4,324 86 3,677 153 Real estate - mortgage: Owner-occupied commercial 15,038 18,274 2,456 21,175 919 1-4 family mortgage 1,440 1,440 176 1,446 3 Other mortgage 1,507 1,507 1,001 1,468 21 Total real estate - mortgage 17,985 21,221 3,633 24,089 943 Consumer - - - - - Total impaired loans $ 43,148 $ 55,415 $ 9,804 $ 58,764 $ 2,053 December 31, 2018 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 $ 6,064 $ 6,064 $ - $ 6,142 $ 237 Real estate - construction 464 467 - 524 28 Real estate - mortgage: Owner-occupied commercial 1,763 1,947 - 2,223 120 1-4 family mortgage 1,071 1,071 - 1,088 21 Other mortgage 5,061 5,061 - 5,133 252 Total real estate - mortgage 7,895 8,079 - 8,444 393 Consumer - - - - - Total with no allowance recorded 14,423 14,610 - 15,110 658 With an allowance recorded: Commercial, financial and agricultural 12,380 20,141 6,066 15,918 462 Real estate - construction 997 997 126 997 31 Real estate - mortgage: Owner-occupied commercial 3,358 3,358 99 3,364 105 1-4 family mortgage 975 975 208 975 30 Other mortgage 6,409 6,409 1,580 6,598 217 Total real estate - mortgage 10,742 10,742 1,887 10,937 352 Consumer 49 49 49 49 3 Total with allowance recorded 24,168 31,929 8,128 27,901 848 Total Impaired Loans: Commercial, financial and agricultural 18,444 26,205 6,066 22,060 699 Real estate - construction 1,461 1,464 126 1,521 59 Real estate - mortgage: Owner-occupied commercial 5,121 5,305 99 5,587 225 1-4 family mortgage 2,046 2,046 208 2,063 51 Other mortgage 11,470 11,470 1,580 11,731 469 Total real estate - mortgage 18,637 18,821 1,887 19,381 745 Consumer 49 49 49 49 3 Total impaired loans $ 38,591 $ 46,539 $ 8,128 $ 43,011 $ 1,506 |
Financing Receivable, Troubled Debt Restructuring [Table Text Block] | Year Ended December 31, 2019 Pre- Post- Modification Modification Outstanding Outstanding Number of Recorded Recorded Contracts Investment Investment (In Thousands) Troubled Debt Restructurings Commercial, financial and agricultural 3 $ 3,415 $ 3,415 Real estate - construction - - - Real estate - mortgage: Owner-occupied commercial - - - 1-4 family mortgage - - - Other mortgage - - - Total real estate - mortgage - - - Consumer - - - 3 $ 3,415 $ 3,415 Year ended December 31, 2018 Pre- Post- Modification Modification Outstanding Outstanding Number of Recorded Recorded Contracts Investment Investment Commercial, financial and agricultural 6 $ 7,242 $ 7,242 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 $ 12,753 $ 12,753 Year Ended December 31, 2019 2018 Defaulted during the period, where modified in a TDR twelve months prior to default Commercial, financial and agricultural $ 491 $ 6,900 Real estate - construction - 997 Real estate - mortgage: Owner occupied commercial 726 3,664 1-4 family mortgage - 850 Other mortgage - - Total real estate - mortgage 726 4,514 Consumer - - $ 1,217 $ 12,411 |
Schedule of Changes in Related Party Loans [Table Text Block] | Years Ended December 31, 2019 2018 (In Thousands) Balance, beginning of year $ 5,428 $ 8,440 Additions 17,794 4,174 Advances 4,861 3,657 Repayments (3,400 ) (10,843 ) Removal (2 ) - Balance, end of year $ 24,681 $ 5,428 |
Note 4 - Foreclosed Properties
Note 4 - Foreclosed Properties (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Notes Tables | |
Disclosure of Foreclosed Properties [Table Text Block] | 2019 2018 2017 (In Thousands) Balance at beginning of year $ 5,169 $ 6,701 $ 4,988 Transfers from loans and capitalized expenses 4,611 3,087 4,685 Foreclosed properties sold (1,437 ) (3,934 ) (2,982 ) Write downs and partial liquidations (165 ) (685 ) 10 Balance at end of year $ 8,178 $ 5,169 $ 6,701 |
Note 5 - Premises and Equipme_2
Note 5 - Premises and Equipment (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Notes Tables | |
Property, Plant and Equipment [Table Text Block] | December 31, 2019 2018 (In Thousands) Land $ 5,830 $ 5,489 Building 36,365 36,337 Furniture and equipment 26,153 24,774 Leasehold improvements 10,681 10,190 Construction in progress 23 200 Total premises and equipment, cost 79,052 76,990 Accumulated depreciation (22,556 ) (19,168 ) Total premises and equipment, net $ 56,496 $ 57,822 |
Note 6 - Leases (Tables)
Note 6 - Leases (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Notes Tables | |
Lease, Cost [Table Text Block] | December 31, 2019 Right-of-use assets $ 13,292 Lease liabilities $ 13,350 Weighted average remaining lease term 5.5 Weighted average discount rate 3.18 % 2019 Operating lease cost $ 3,421 Short-term lease cost 65 Variable lease cost 154 Sublease income (70 ) Net lease cost $ 3,570 |
Lessee, Operating Lease, Liability, Maturity [Table Text Block] | (In Thousands) 2020 $ 3,005 2021 2,383 2022 2,425 2023 2,024 2024 1,074 Thereafter 2,439 Total $ 13,350 |
Note 8 - Deposits (Tables)
Note 8 - Deposits (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Notes Tables | |
Schedule Of Deposits [Table Text Block] | December 31, 2019 2018 (In Thousands) Noninterest-bearing demand $ 1,749,879 $ 1,557,341 Interest-bearing checking 4,986,193 4,624,909 Savings 65,808 53,880 Time deposits, $250,000 and under 267,221 257,925 Time deposits, over $250,000 461,332 421,653 Total $ 7,530,433 $ 6,915,708 |
Time Deposit Maturities [Table Text Block] | (In Thousands) 2020 $ 415,448 2021 172,030 2022 57,820 2023 58,812 2024 24,443 Total $ 728,553 |
Note 13 - Employee and Direct_2
Note 13 - Employee and Director Benefits (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Notes Tables | |
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | 2019 2018 2017 Expected price volatility 40.00 % 35.39 % 29.00 % Expected dividend yield 1.76 % 1.24 % 0.44 % Expected term (in years) 7 6 6 Risk-free rate 1.96 % 2.90 % 2.08 % |
Share-based Payment Arrangement, Option, Activity [Table Text Block] | Shares Weighted Average Exercise Price Weighted Average Remaining Contractual Term (years) Aggregate Intrinsic Value (In Thousands) Year Ended December 31, 2019: Outstanding at beginning of year 1,238,748 $ 13.02 5.2 $ 23,355 Granted 35,500 34.06 9.6 129 Exercised (288,800 ) 7.56 2.5 8,534 Forfeited (20,200 ) 24.88 6.2 259 Outstanding at end of year 965,248 $ 15.19 4.9 $ 21,911 Exercisable at December 31, 2019: 278,500 $ 8.28 3.0 $ 8,355 Year Ended December 31, 2018: Outstanding at beginning of year 1,666,834 $ 10.68 5.5 $ 51,377 Granted 42,250 37.21 9.6 - Exercised (414,336 ) 5.73 2.8 10,832 Forfeited (56,000 ) 15.40 6.2 912 Outstanding at end of year 1,238,748 $ 13.02 5.2 $ 23,355 Exercisable at December 31, 2018: 510,100 $ 7.08 3.5 $ 12,645 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 |
Share-based Payment Arrangement, Restricted Stock and Restricted Stock Unit, Activity [Table Text Block] | Range of Exercise Price Shares Weighted Average Exercise Price Weighted Average Remaining Contractual Term (years) Aggregate Intrinsic Value (In Thousands) $ 4.17 5,500 $ 4.17 1.0 $ 199 5.00 79,500 5.00 2.1 3,022 5.50 80,000 5.50 2.2 2,362 6.92 37,500 6.92 4.0 1,154 15.25 50,000 15.25 5.0 1,121 18.57 26,000 18.57 3.5 497 278,500 $ 8.28 3.0 $ 8,355 |
Nonvested Restricted Stock Shares Activity [Table Text Block] | Shares Weighted Average Grant Date Fair Value Year Ended December 31, 2019: Non-vested at beginning of year 42,576 $ 29.96 Granted 35,164 33.61 Vested (5,450 ) 20.92 Forfeited (2,500 ) 38.17 Non-vested at end of year 69,790 $ 32.21 Year Ended December 31, 2018: Non-vested at beginning of year 120,676 $ 10.29 Granted 16,350 39.84 Vested (93,200 ) 6.07 Forfeited (1,250 ) 41.21 Non-vested at end of year 42,576 $ 29.96 Year Ended December 31, 2017: Non-vested at beginning of year 118,676 $ 8.88 Granted 7,000 38.02 Vested (5,000 ) 15.74 Non-vested at end of year 120,676 $ 10.29 |
Note 14 - Regulatory Matters (T
Note 14 - Regulatory Matters (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Notes Tables | |
Schedule of Compliance with Regulatory Capital Requirements under Banking Regulations [Table Text Block] | Actual For Capital Adequacy Purposes To Be Well Capitalized Under Prompt Corrective Action Provisions Amount Ratio Amount Ratio Amount Ratio As of December 31, 2019: CET I Capital to Risk Weighted Assets: Consolidated $ 822,396 10.50 % $ 342,283 4.50 % N/A N/A ServisFirst Bank 885,172 11.30 % 342,269 4.50 % $ 494,389 6.50 % Tier I Capital to Risk Weighted Assets: Consolidated 822,896 10.50 % 456,377 6.00 % N/A N/A ServisFirst Bank 885,674 11.31 % 456,359 6.00 % 608,479 8.00 % Total Capital to Risk Weighted Assets: Consolidated 964,683 12.31 % 608,502 8.00 % N/A N/A ServisFirst Bank 962,758 12.29 % 608,479 8.00 % 760,598 10.00 % Tier I Capital to Average Assets: Consolidated 822,896 9.13 % 356,012 4.00 % N/A N/A ServisFirst Bank 885,674 9.83 % 355,998 4.00 % 444,997 5.00 % As of December 31, 2018: CET I Capital to Risk Weighted Assets: Consolidated $ 705,203 10.12 % $ 313,564 4.50 % N/A N/A ServisFirst Bank 768,614 11.03 % 313,554 4.50 % $ 452,911 6.50 % Tier I Capital to Risk Weighted Assets: Consolidated 705,705 10.13 % 418,086 6.00 % N/A N/A ServisFirst Bank 769,116 11.04 % 418,071 6.00 % 557,428 8.00 % Total Capital to Risk Weighted Assets: Consolidated 839,471 12.05 % 557,448 8.00 % N/A N/A ServisFirst Bank 838,216 12.03 % 557,428 8.00 % 696,786 10.00 % Tier I Capital to Average Assets: Consolidated 705,705 9.07 % 311,214 4.00 % N/A N/A ServisFirst Bank 769,116 9.89 % 311,206 4.00 % 389,007 5.00 % |
Note 15 - Other Operating Inc_2
Note 15 - Other Operating Income and Expenses (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Notes Tables | |
Schedule of Other Operating Income Expenses [Table Text Block] | Years Ended December 31, 2019 2018 2017 (In Thousands) Other Operating Income ATM fee income $ 1,477 $ 876 $ 711 Gain (loss) on sale of fixed assets 5 - 1 Other 261 363 387 Total other operating income $ 1,743 $ 1,239 $ 1,099 Other Operating Expenses Data processing $ 8,801 $ 6,667 $ 5,454 Other loan expenses 3,476 2,711 2,170 Customer and public relations 2,545 2,182 2,008 Bank service charges 2,432 2,004 1,522 Sales and use tax 640 733 1,167 Write-down investment in tax credit partnerships 746 750 1,081 Telephone 1,131 919 990 Donations and contributions 837 859 744 Marketing 581 557 716 Supplies 572 550 595 Fraud and forgery losses 577 464 515 Directors fees 545 467 472 Postage 393 439 441 Other operational losses 36 519 167 Other 4,136 3,477 3,087 Total other operating expenses $ 27,448 $ 23,298 $ 21,129 |
Note 16 - Income Taxes (Tables)
Note 16 - Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Notes Tables | |
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | Year Ended December 31, 2019 2018 2017 (In Thousands) Current tax expense: Federal $ 36,683 $ 43,207 $ 27,952 State 2,012 2,950 2,258 Total current tax expense 38,695 46,157 30,210 Deferred tax (benefit) expense: Federal (166 ) (12,636 ) 17,073 State (911 ) (1,619 ) (3,025 ) Total deferred tax (benefit) expense (1,077 ) (14,255 ) 14,048 Total income tax expense $ 37,618 $ 31,902 $ 44,258 |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | Year Ended December 31, 2019 Amount % of Pre-tax Earnings (In Thousands) Income tax at statutory federal rate $ 39,241 21.00 % Effect on rate of: State income tax, net of federal tax effect 822 0.44 % Tax-exempt income, net of expenses (461 ) (0.25 )% Bank owned life insurance contracts (787 ) (0.42 )% Excess tax benefit from stock compensation (1,405 ) (0.75 )% Federal tax credits (170 ) (0.09 )% Other 378 0.20 % Effective income tax and rate $ 37,618 20.13 % Year Ended December 31, 2018 Amount % of Pre-tax Earnings (In Thousands) Income tax at statutory federal rate $ 35,457 21.00 % Effect on rate of: State income tax, net of federal tax effect 808 0.48 % Tax-exempt income, net of expenses (655 ) (0.39 )% Bank owned life insurance contracts (657 ) (0.39 )% Excess tax benefit from stock compensation (3,118 ) (1.84 )% Federal tax credits (113 ) (0.07 )% Other 180 0.10 % Effective income tax and rate $ 31,902 18.89 % Year Ended December 31, 2017 Amount % of Pre-tax Earnings (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 % |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | December 31, 2019 2018 (In Thousands) Deferred tax assets: Allowance for loan losses $ 17,733 $ 17,212 Other real estate owned 225 317 Nonqualified equity awards 953 788 Nonaccrual interest 231 311 State tax credits 7,787 6,791 Investments 1,119 1,130 Deferred loan fees 891 804 Reserve for unfunded commitments 183 135 Accrued bonus 2,029 2,025 Differences in amounts reflected in financial statements and income tax basis of assets acquired and liabilities assumed in acquisition 121 139 Net unrealized loss on securities available for sale - 1,273 Other deferred tax assets 487 669 Total deferred tax assets 31,759 31,594 Deferred tax liabilities: Net unrealized gain on securities available for sale 1,515 - Depreciation 4,021 3,732 Prepaid expenses 516 376 Acquired intangible assets 141 209 Total deferred tax liabilities 6,193 4,317 Net deferred tax assets $ 25,566 $ 27,277 |
Summary of Income Tax Contingencies [Table Text Block] | 2019 2018 2017 (In Thousands) Balance, beginning of year $ 2,133 $ 1,779 $ 1,375 Increases related to prior year tax positions 998 799 365 Decreases related to prior year tax positions - - - Increases related to current year tax positions - - - Settlements - - - Enacted tax rate change - - 315 Lapse of statute (448 ) (445 ) (276 ) Balance, end of year $ 2,683 $ 2,133 $ 1,779 |
Note 17 - Commitments and Con_2
Note 17 - Commitments and Contingencies (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Notes Tables | |
Product Liability Contingencies [Table Text Block] | 2019 2018 2017 (In Thousands) Commitments to extend credit $ 2,303,788 $ 1,985,801 $ 1,945,171 Credit card arrangements 248,617 173,613 128,149 Standby letters of credit and financial guarantees 48,394 40,590 41,654 Total $ 2,600,799 $ 2,200,004 $ 2,114,974 |
Note 19 - Earnings Per Common_2
Note 19 - Earnings Per Common Share (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Year Ended December 31, 2019 2018 2017 (Dollar Amounts In Thousands Except Per Share Amounts) Earnings Per Share Weighted average common shares outstanding 53,530,766 53,172,695 52,887,359 Net income available to common stockholders $ 149,180 $ 136,877 $ 93,030 Basic earnings per common share $ 2.79 2.57 $ 1.76 Weighted average common shares outstanding 53,530,766 53,172,695 52,887,359 Dilutive effects of assumed conversions and exercise of stock options and warrants 572,308 997,184 1,236,598 Weighted average common and dilutive potential common shares outstanding 54,103,074 54,169,879 54,123,957 Net income available to common stockholders $ 149,180 $ 136,877 $ 93,030 Diluted earnings per common share $ 2.76 $ 2.53 $ 1.72 |
Note 21 - Fair Value Measurem_2
Note 21 - Fair Value Measurement (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Notes Tables | |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | Fair Value Measurements at December 31, 2019 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 securities $ - $ 49,210 $ - $ 49,210 Government agency securities 18,386 18,386 Mortgage-backed securities - 474,054 - 474,054 State and municipal securities - 57,272 - 57,272 Corporate debt - 153,881 6,596 160,477 Total assets at fair value $ - $ 752,803 $ 6,596 $ 759,399 Fair Value Measurements at December 31, 2018 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 securities $ - $ 58,428 $ - $ 58,428 Government agency securities 18,565 18,565 Mortgage-backed securities - 304,304 - 304,304 State and municipal securities - 105,994 - 105,994 Corporate debt - 96,375 6,518 102,893 Total assets at fair value $ - $ 583,666 $ 6,518 $ 590,184 |
Fair Value Measurements, Nonrecurring [Table Text Block] | Fair Value Measurements at December 31, 2019 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 $ - - $ 33,344 $ 33,344 Other real estate owned and repossessed assets - - 8,178 8,178 Total assets at fair value - - $ 41,522 $ 41,522 Fair Value Measurements at December 31, 2018 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 $ - $ - $ 30,463 $ 30,463 Other real estate owned - - 5,169 5,169 Total assets at fair value $ - $ - $ 35,632 $ 35,632 |
Fair Value, by Balance Sheet Grouping [Table Text Block] | December 31, 2019 2018 Carrying Amount Fair Value Carrying Amount Fair Value (In Thousands) Financial Assets: Level 1 Inputs: Cash and cash equivalents $ 530,127 $ 530,127 $ 458,050 $ 458,050 Level 2 Inputs: Debt securities available for sale $ 752,803 $ 752,803 $ 583,666 $ 583,666 Equity securities - - 894 894 Federal funds sold 100,473 100,473 223,845 223,845 Mortgage loans held for sale 6,302 6,312 120 121 Level 3 Inputs: Debt securities available for sale $ 6,596 $ 6,596 $ 6,518 $ 6,518 Debt securities held to maturity 250 250 - - Loans, net 7,184,867 7,132,542 6,464,899 6,398,604 Financial Liabilities: Level 2 Inputs: Deposits $ 7,530,433 $ 7,534,984 $ 6,915,708 $ 6,910,176 Federal funds purchased 470,749 470,749 288,725 288,725 Other borrowings 64,703 65,048 64,666 64,613 |
Note 22 - Parent Company Fina_2
Note 22 - Parent Company Financial Information (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Notes Tables | |
Condensed Balance Sheet [Table Text Block] | December 31, 2019 December 31, 2018 ASSETS Cash and due from banks $ 10,071 $ 9,034 Investment in subsidiary 904,958 778,112 Other assets 1,238 239 Total assets $ 916,267 $ 787,385 LIABILITIES AND STOCKHOLDERS' EQUITY Liabilities: Other borrowings $ 64,703 $ 64,666 Other liabilities 9,384 8,018 Total liabilities 74,087 72,684 Stockholders' equity: Preferred stock, par value $0.001 per share; 1,000,000 authorized and undesignated at December 31, 2019 and December 31, 2018 - - Common stock, par value $0.001 per share; 100,000,000 shares authorized; 53,623,740 shares issued and outstanding at December 31, 2019 and 53,375,195 shares issued and outstanding at December 31, 2018 54 53 Additional paid-in capital 219,766 218,521 Retained earnings 616,611 500,868 Accumulated other comprehensive (loss) income 5,749 (4,741 ) Total stockholders' equity 842,180 714,701 Total liabilities and stockholders' equity $ 916,267 $ 787,385 |
Condensed Income Statement [Table Text Block] | 2019 2018 2017 Income: Dividends received from subsidiary $ 37,000 $ 23,000 $ 6,500 Other income - 176 2 Total income 37,000 23,176 6,502 Expense: Other expenses 2,930 2,933 2,260 Total expenses 2,930 2,933 2,260 Equity in undistributed earnings of subsidiary 115,110 116,634 88,788 Net income 149,180 136,877 93,030 Dividends on preferred stock - - - Net income available to common stockholders $ 149,180 $ 136,877 $ 93,030 |
Condensed Cash Flow Statement [Table Text Block] | 2019 2018 2017 Operating activities Net income $ 149,180 $ 136,877 $ 93,030 Adjustments to reconcile net income to net cash provided by operating activities: Other 38 (1,181 ) (314 ) Equity in undistributed earnings of subsidiary (115,110 ) (116,634 ) (88,788 ) Net cash provided by operating activities 34,108 19,062 3,928 Investing activities Investment in subsidiary - - - Other (1,000 ) 275 - Net cash used in investing activities (1,000 ) 275 - Financing activities Proceeds from issuance of subordinated notes - - 29,943 Redemption of subordinated notes - - (20,000 ) Dividends paid on common stock (32,071 ) (20,194 ) (10,040 ) Net cash provided by financing activities (32,071 ) (20,194 ) (97 ) Increase (decrease) in cash and cash equivalents 1,037 (857 ) 3,831 Cash and cash equivalents at beginning of year 9,034 9,891 6,060 Cash and cash equivalents at end of year $ 10,071 $ 9,034 $ 9,891 |
Note 23 - Quarterly Financial_2
Note 23 - Quarterly Financial Data (Unaudited) (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Notes Tables | |
Quarterly Financial Information [Table Text Block] | 2019 Quarter Ended (Dollars in thousands, except per share data) March 31 June 30 September 30 December 31 Interest income $ 93,699 $ 97,787 $ 101,130 $ 98,187 Interest expense 24,921 27,702 28,125 22,410 Net interest income 68,778 70,085 73,005 75,777 Provision for loan losses 4,885 4,884 6,985 5,884 Net income available to common stockholders 35,010 35,602 37,563 41,005 Net income per common share, basic $ 0.65 $ 0.67 $ 0.70 $ 0.77 Net income per common share, diluted $ 0.65 $ 0.66 $ 0.69 $ 0.76 2018 Quarter Ended (Dollars in thousands, except per share data) March 31 June 30 September 30 December 31 Interest income $ 74,009 $ 78,396 $ 84,058 $ 90,164 Interest expense 11,573 13,874 17,195 21,306 Net interest income 62,436 64,522 66,863 68,858 Provision for loan losses 4,139 4,121 6,624 6,518 Net income available to common stockholders 32,603 33,509 34,560 36,205 Net income per common share, basic $ 0.61 $ 0.63 $ 0.65 $ 0.68 Net income per common share, diluted $ 0.60 $ 0.62 $ 0.64 $ 0.67 |
Note 1 - Summary of Significa_2
Note 1 - Summary of Significant Accounting Policies (Details Textual) | 12 Months Ended | |||
Dec. 31, 2019USD ($) | Dec. 31, 2018USD ($) | Dec. 31, 2017USD ($) | Jan. 01, 2019USD ($) | |
Number of Reporting Units | 1 | |||
Unrecognized Tax Benefits Threshold Percentage | 50.00% | |||
Advertising Expense | $ 581,000 | $ 557,000 | $ 716,000 | |
Accounting Standards Update 2016-02 [Member] | ||||
Operating Lease, Right-of-Use Asset | $ 15,300,000 | |||
Operating Lease, Liability, Total | $ 15,300,000 | |||
Metro Bancshares, Inc [Member] | ||||
Finite-Lived Intangible Assets, Remaining Amortization Period | 7 years | |||
Goodwill, Ending Balance | $ 13,600,000 | |||
Minimum [Member] | ||||
Property, Plant and Equipment, Useful Life | 3 years | |||
Lessee, Operating Lease, Renewal Term | 1 year | |||
Decrease in Allowance for Loan Losses, Percent | 1.00% | |||
Maximum [Member] | ||||
Property, Plant and Equipment, Useful Life | 39 years 6 months | |||
Lessee, Operating Lease, Renewal Term | 5 years | |||
Decrease in Allowance for Loan Losses, Percent | 5.00% | |||
Federal Reserve Bank [Member] | ||||
Cash Reserve Deposit Required and Made | $ 33,900,000 | $ 51,000,000 |
Note 2 - Debt Securities (Detai
Note 2 - Debt Securities (Details Textual) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019USD ($) | Dec. 31, 2018USD ($) | Dec. 31, 2017USD ($) | |
Other than Temporary Impairment Losses, Investments, Available-for-sale Securities, Total | $ 0 | $ 0 | $ 0 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Number of Positions | 35 | ||
Available for Sale Securities Debt Securities, Number of Positions | 650 | ||
Pledged Financial Instruments, Not Separately Reported, Securities, Total | $ 389,900 | $ 291,600 |
Note 2 - Debt Securities - Amor
Note 2 - Debt Securities - Amortized Cost and Fair Value of Available-for-sale and Held-to-maturity Securities (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Available for sale, amortized cost | $ 752,181 | $ 596,225 |
Available for sale, gross unrealized gain | 8,726 | 1,545 |
Available for sale, gross unrealized loss | (1,508) | (7,586) |
Available for sale, fair value | 759,399 | 590,184 |
Held to maturity, amortized cost | 250 | 0 |
Held to maturity, gross unrealized gain | 0 | 0 |
Held to maturity, gross unrealized loss | 0 | 0 |
Held to maturity debt securities, fair value | 250 | 0 |
US Treasury Securities [Member] | ||
Available for sale, amortized cost | 48,923 | 58,750 |
Available for sale, gross unrealized gain | 291 | 75 |
Available for sale, gross unrealized loss | (4) | (397) |
Available for sale, fair value | 49,210 | 58,428 |
US Government Agencies Debt Securities [Member] | ||
Available for sale, amortized cost | 18,245 | 18,784 |
Available for sale, gross unrealized gain | 143 | 3 |
Available for sale, gross unrealized loss | (2) | (222) |
Available for sale, fair value | 18,386 | 18,565 |
Collateralized Mortgage Backed Securities [Member] | ||
Available for sale, amortized cost | 470,513 | 309,244 |
Available for sale, gross unrealized gain | 4,859 | 591 |
Available for sale, gross unrealized loss | (1,318) | (5,531) |
Available for sale, fair value | 474,054 | 304,304 |
US States and Political Subdivisions Debt Securities [Member] | ||
Available for sale, amortized cost | 56,951 | 106,465 |
Available for sale, gross unrealized gain | 335 | 208 |
Available for sale, gross unrealized loss | (14) | (679) |
Available for sale, fair value | 57,272 | 105,994 |
Held to maturity, amortized cost | 250 | 0 |
Held to maturity, gross unrealized gain | 0 | 0 |
Held to maturity, gross unrealized loss | 0 | 0 |
Held to maturity debt securities, fair value | 250 | 0 |
Corporate Debt Securities [Member] | ||
Available for sale, amortized cost | 157,549 | 102,982 |
Available for sale, gross unrealized gain | 3,098 | 668 |
Available for sale, gross unrealized loss | (170) | (757) |
Available for sale, fair value | $ 160,477 | $ 102,893 |
Note 2 - Debt Securities - Am_2
Note 2 - Debt Securities - Amortized Cost and Fair Value of Contractual Securities (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Due within one year, amortized cost | $ 58,722 | $ 38,343 |
Due within one year, fair value | 58,975 | 38,225 |
Due from one to five years, amortized cost | 90,034 | 167,873 |
Due from one to five years, fair value | 91,005 | 166,380 |
Due from five to ten years, amortized cost | 129,501 | 77,811 |
Due from five to ten years, fair value | 131,914 | 78,276 |
Due after ten years, amortized cost | 3,411 | 2,954 |
Due after ten years, fair value | 3,451 | 2,999 |
Mortgage-backed securities, amortized cost | 470,513 | 309,244 |
Mortgage-backed securities, fair value | 474,054 | 304,304 |
Available for sale, amortized cost | 752,181 | 596,225 |
Available for sale, fair value | 759,399 | 590,184 |
Due from one to five years, amortized cost | 250 | 0 |
Due from one to five years, fair value | 250 | 0 |
Held to maturity, amortized cost | 250 | 0 |
Held to maturity debt securities, fair value | $ 250 | $ 0 |
Note 2 - Debt Securities - Inve
Note 2 - Debt Securities - Investment Securities Continuous Unrealized Loss Position (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Less Than Twelve Months, Gross Unrealized Losses | $ (1,386) | $ (963) |
Less Than Twelve Months, Fair Value | 178,489 | 125,788 |
Twelve Months or More, Gross Unrealized Losses | (122) | (6,623) |
Twelve Months or More, Fair Value | 27,558 | 320,802 |
Total, Gross Unrealized Losses | (1,508) | (7,586) |
Total, Fair Value | 206,047 | 446,590 |
US Treasury Securities [Member] | ||
Less Than Twelve Months, Gross Unrealized Losses | (4) | (8) |
Less Than Twelve Months, Fair Value | 3,012 | 1,001 |
Twelve Months or More, Gross Unrealized Losses | 0 | (388) |
Twelve Months or More, Fair Value | 0 | 32,449 |
Total, Gross Unrealized Losses | (4) | (397) |
Total, Fair Value | 3,012 | 34,206 |
US Government Agencies Debt Securities [Member] | ||
Less Than Twelve Months, Gross Unrealized Losses | (2) | 0 |
Less Than Twelve Months, Fair Value | 266 | 0 |
Twelve Months or More, Gross Unrealized Losses | 0 | (223) |
Twelve Months or More, Fair Value | 0 | 18,429 |
Total, Gross Unrealized Losses | (2) | (222) |
Total, Fair Value | 266 | 17,673 |
Collateralized Mortgage Backed Securities [Member] | ||
Less Than Twelve Months, Gross Unrealized Losses | (1,206) | (539) |
Less Than Twelve Months, Fair Value | 153,330 | 67,721 |
Twelve Months or More, Gross Unrealized Losses | (112) | (4,992) |
Twelve Months or More, Fair Value | 24,911 | 204,260 |
Total, Gross Unrealized Losses | (1,318) | (5,531) |
Total, Fair Value | 178,241 | 271,981 |
US States and Political Subdivisions Debt Securities [Member] | ||
Less Than Twelve Months, Gross Unrealized Losses | (4) | (101) |
Less Than Twelve Months, Fair Value | 1,900 | 20,821 |
Twelve Months or More, Gross Unrealized Losses | (10) | (578) |
Twelve Months or More, Fair Value | 2,647 | 52,190 |
Total, Gross Unrealized Losses | (14) | (679) |
Total, Fair Value | 4,547 | 73,011 |
Corporate Debt Securities [Member] | ||
Less Than Twelve Months, Gross Unrealized Losses | (170) | (315) |
Less Than Twelve Months, Fair Value | 19,981 | 36,245 |
Twelve Months or More, Gross Unrealized Losses | 0 | (442) |
Twelve Months or More, Fair Value | 0 | 13,474 |
Total, Gross Unrealized Losses | (170) | (757) |
Total, Fair Value | $ 19,981 | $ 49,718 |
Note 2 - Debt Securities - Summ
Note 2 - Debt Securities - Summary Information About Sales of Debt Securities Available for Sale (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Sale proceeds | $ 38,453 | $ 5,736 | $ 3,500 |
Gross realized gains | 27 | 15 | 0 |
Gross realized losses | 0 | 0 | 0 |
Net realized gain (loss) | $ 27 | $ 15 | $ 0 |
Note 3 - Loans (Details Textual
Note 3 - Loans (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |
Sep. 30, 2019 | Dec. 31, 2019 | Dec. 31, 2018 | |
Termination of Loan Guaratee, Close-out Payment | $ 7,400 | ||
Percentage of Fee on Commitment Balance | 1.00% | ||
Loans and Leases Receivable, Net Amount, Total | $ 7,184,867 | $ 6,464,899 | |
Financing Receivable, Troubled Debt Restructuring | 3,400 | 14,600 | |
Financing Receivables, Impaired, Troubled Debt Restructuring, Write-down | 900 | $ 4,300 | |
Commercial Portfolio Segment [Member] | |||
Financing Receivable, Troubled Debt Restructuring | $ 300 | ||
Loans Formerly Enrolled In Loan Guarantee Program [Member] | |||
Number of Loans Outstanding | 71 | ||
Loans and Leases Receivable, Net Amount, Total | $ 42,200 | ||
Loans Formerly Enrolled In Loan Guarantee Program [Member] | Pass [Member] | |||
Loans and Leases Receivable, Net Amount, Total | 37,000 | ||
Loans Formerly Enrolled In Loan Guarantee Program [Member] | Special Mention [Member] | |||
Loans and Leases Receivable, Net Amount, Total | $ 5,200 |
Note 3 - Loans - Summary of Loa
Note 3 - Loans - Summary of Loans (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 |
Financing receivable, gross | $ 7,261,451 | $ 6,533,499 | ||
Less: Allowance for loan losses | (76,584) | (68,600) | $ (59,406) | $ (51,893) |
Loans and Leases Receivable, Net Amount, Total | 7,184,867 | 6,464,899 | ||
Commercial Real Estate Portfolio Segment [Member] | ||||
Financing receivable, gross | 2,696,210 | 2,513,225 | ||
Less: Allowance for loan losses | (43,666) | (39,016) | (32,880) | |
Real Estate Portfolio Segment[Member] | ||||
Financing receivable, gross | 3,979,060 | 3,422,589 | ||
Real Estate Portfolio Segment[Member] | Construction Loans [Member] | ||||
Financing receivable, gross | 521,392 | 533,192 | ||
Less: Allowance for loan losses | (2,768) | (3,522) | (4,989) | |
Real Estate Portfolio Segment[Member] | Owner Occupied Commercial [Member] | ||||
Financing receivable, gross | 1,587,478 | 1,463,887 | ||
Real Estate Portfolio Segment[Member] | One to Four Family [Member] | ||||
Financing receivable, gross | 644,188 | 621,634 | ||
Real Estate Portfolio Segment[Member] | Other Mortgages [Member] | ||||
Financing receivable, gross | 1,747,394 | 1,337,068 | ||
Consumer Portfolio Segment [Member] | ||||
Financing receivable, gross | 64,789 | 64,493 | ||
Less: Allowance for loan losses | $ (497) | $ (554) | $ (515) |
Note 3 - Loans - Allowance for
Note 3 - Loans - Allowance for Loan Losses (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Balance, beginning of year | $ 68,600 | $ 59,406 | $ 51,893 |
Loans charged off | (22,489) | (12,753) | (16,332) |
Recoveries | (429) | (545) | (620) |
Allocation from LGP | 7,406 | 0 | 0 |
Provision for loan losses | 22,638 | 21,402 | 23,225 |
Balance, end of year | $ 76,584 | $ 68,600 | $ 59,406 |
Note 3 - Loans - Analysis of Al
Note 3 - Loans - Analysis of Allowance for Loans Losses by Portfolio Segment (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Balance, beginning of year | $ 68,600 | $ 59,406 | $ 51,893 |
Charge-offs | (22,489) | (12,753) | (16,332) |
Recoveries | 429 | 545 | 620 |
Allocation from LGP | 7,406 | 0 | 0 |
Provision | 22,638 | 21,402 | 23,225 |
Balance, end of year | 76,584 | 68,600 | 59,406 |
Individually Evaluated for Impairment | 9,804 | 8,128 | |
Collectively Evaluated for Impairment | 66,780 | 60,472 | |
Ending Balance | 7,261,451 | 6,533,499 | |
Individually Evaluated for Impairment | 43,148 | 38,591 | |
Collectively Evaluated for Impairment | 7,218,303 | 6,494,908 | |
Commercial Real Estate Portfolio Segment [Member] | |||
Balance, beginning of year | 39,016 | 32,880 | |
Charge-offs | (15,015) | (11,428) | |
Recoveries | 306 | 349 | |
Allocation from LGP | 4,905 | ||
Provision | 14,454 | 17,215 | |
Balance, end of year | 43,666 | 39,016 | 32,880 |
Individually Evaluated for Impairment | 6,085 | 6,066 | |
Collectively Evaluated for Impairment | 37,581 | 32,950 | |
Ending Balance | 2,696,210 | 2,513,225 | |
Individually Evaluated for Impairment | 20,843 | 18,444 | |
Collectively Evaluated for Impairment | 2,675,367 | 2,494,781 | |
Real Estate Portfolio Segment[Member] | |||
Ending Balance | 3,979,060 | 3,422,589 | |
Real Estate Portfolio Segment[Member] | Construction Loans [Member] | |||
Balance, beginning of year | 3,522 | 4,989 | |
Charge-offs | 0 | 0 | |
Recoveries | 3 | 112 | |
Allocation from LGP | 115 | ||
Provision | (872) | (1,579) | |
Balance, end of year | 2,768 | 3,522 | 4,989 |
Individually Evaluated for Impairment | 86 | 126 | |
Collectively Evaluated for Impairment | 2,682 | 3,396 | |
Ending Balance | 521,392 | 533,192 | |
Individually Evaluated for Impairment | 4,320 | 1,461 | |
Collectively Evaluated for Impairment | 517,072 | 531,731 | |
Real Estate Portfolio Segment[Member] | Real Estate Loan [Member] | |||
Balance, beginning of year | 25,508 | 21,022 | |
Charge-offs | (6,882) | (1,042) | |
Recoveries | 13 | 46 | |
Allocation from LGP | 2,386 | ||
Provision | 8,628 | 5,482 | |
Balance, end of year | 29,653 | 25,508 | 21,022 |
Individually Evaluated for Impairment | 3,633 | 1,887 | |
Collectively Evaluated for Impairment | 26,020 | 23,621 | |
Ending Balance | 3,979,060 | 3,422,589 | |
Individually Evaluated for Impairment | 17,985 | 18,637 | |
Collectively Evaluated for Impairment | 3,961,075 | 3,403,952 | |
Consumer Portfolio Segment [Member] | |||
Balance, beginning of year | 554 | 515 | |
Charge-offs | (592) | (283) | |
Recoveries | 107 | 38 | |
Allocation from LGP | 0 | ||
Provision | 428 | 284 | |
Balance, end of year | 497 | 554 | $ 515 |
Individually Evaluated for Impairment | 0 | 49 | |
Collectively Evaluated for Impairment | 497 | 505 | |
Ending Balance | 64,789 | 64,493 | |
Individually Evaluated for Impairment | 0 | 49 | |
Collectively Evaluated for Impairment | $ 64,789 | $ 64,444 |
Note 3 - Loans - Loans by Credi
Note 3 - Loans - Loans by Credit Quality Indicator (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Financing receivable, gross | $ 7,261,451 | $ 6,533,499 |
Pass [Member] | ||
Financing receivable, gross | 7,137,760 | 6,394,484 |
Special Mention [Member] | ||
Financing receivable, gross | 81,952 | 102,259 |
Substandard [Member] | ||
Financing receivable, gross | 41,739 | 36,756 |
Doubtful [Member] | ||
Financing receivable, gross | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | ||
Financing receivable, gross | 2,696,210 | 2,513,225 |
Commercial Real Estate Portfolio Segment [Member] | Pass [Member] | ||
Financing receivable, gross | 2,629,487 | 2,447,052 |
Commercial Real Estate Portfolio Segment [Member] | Special Mention [Member] | ||
Financing receivable, gross | 46,176 | 47,754 |
Commercial Real Estate Portfolio Segment [Member] | Substandard [Member] | ||
Financing receivable, gross | 20,547 | 18,419 |
Commercial Real Estate Portfolio Segment [Member] | Doubtful [Member] | ||
Financing receivable, gross | 0 | 0 |
Real Estate Portfolio Segment[Member] | ||
Financing receivable, gross | 3,979,060 | 3,422,589 |
Real Estate Portfolio Segment[Member] | Construction Loans [Member] | ||
Financing receivable, gross | 521,392 | 533,192 |
Real Estate Portfolio Segment[Member] | Owner Occupied Commercial [Member] | ||
Financing receivable, gross | 1,587,478 | 1,463,887 |
Real Estate Portfolio Segment[Member] | One to Four Family [Member] | ||
Financing receivable, gross | 644,188 | 621,634 |
Real Estate Portfolio Segment[Member] | Other Mortgages [Member] | ||
Financing receivable, gross | 1,747,394 | 1,337,068 |
Real Estate Portfolio Segment[Member] | Pass [Member] | ||
Financing receivable, gross | 3,931,111 | 3,357,967 |
Real Estate Portfolio Segment[Member] | Pass [Member] | Construction Loans [Member] | ||
Financing receivable, gross | 512,373 | 525,021 |
Real Estate Portfolio Segment[Member] | Pass [Member] | Owner Occupied Commercial [Member] | ||
Financing receivable, gross | 1,555,283 | 1,431,982 |
Real Estate Portfolio Segment[Member] | Pass [Member] | One to Four Family [Member] | ||
Financing receivable, gross | 639,959 | 616,884 |
Real Estate Portfolio Segment[Member] | Pass [Member] | Other Mortgages [Member] | ||
Financing receivable, gross | 1,735,869 | 1,309,101 |
Real Estate Portfolio Segment[Member] | Special Mention [Member] | ||
Financing receivable, gross | 31,045 | 47,756 |
Real Estate Portfolio Segment[Member] | Special Mention [Member] | Construction Loans [Member] | ||
Financing receivable, gross | 4,731 | 6,749 |
Real Estate Portfolio Segment[Member] | Special Mention [Member] | Owner Occupied Commercial [Member] | ||
Financing receivable, gross | 18,240 | 28,547 |
Real Estate Portfolio Segment[Member] | Special Mention [Member] | One to Four Family [Member] | ||
Financing receivable, gross | 2,787 | 2,703 |
Real Estate Portfolio Segment[Member] | Special Mention [Member] | Other Mortgages [Member] | ||
Financing receivable, gross | 10,018 | 16,506 |
Real Estate Portfolio Segment[Member] | Substandard [Member] | ||
Financing receivable, gross | 16,904 | 16,866 |
Real Estate Portfolio Segment[Member] | Substandard [Member] | Construction Loans [Member] | ||
Financing receivable, gross | 4,288 | 1,422 |
Real Estate Portfolio Segment[Member] | Substandard [Member] | Owner Occupied Commercial [Member] | ||
Financing receivable, gross | 13,955 | 3,358 |
Real Estate Portfolio Segment[Member] | Substandard [Member] | One to Four Family [Member] | ||
Financing receivable, gross | 1,442 | 2,047 |
Real Estate Portfolio Segment[Member] | Substandard [Member] | Other Mortgages [Member] | ||
Financing receivable, gross | 1,507 | 11,461 |
Real Estate Portfolio Segment[Member] | Doubtful [Member] | ||
Financing receivable, gross | 0 | 0 |
Real Estate Portfolio Segment[Member] | Doubtful [Member] | Construction Loans [Member] | ||
Financing receivable, gross | 0 | 0 |
Real Estate Portfolio Segment[Member] | Doubtful [Member] | Owner Occupied Commercial [Member] | ||
Financing receivable, gross | 0 | 0 |
Real Estate Portfolio Segment[Member] | Doubtful [Member] | One to Four Family [Member] | ||
Financing receivable, gross | 0 | 0 |
Real Estate Portfolio Segment[Member] | Doubtful [Member] | Other Mortgages [Member] | ||
Financing receivable, gross | 0 | 0 |
Consumer Portfolio Segment [Member] | ||
Financing receivable, gross | 64,789 | 64,493 |
Consumer Portfolio Segment [Member] | Pass [Member] | ||
Financing receivable, gross | 64,789 | 64,444 |
Consumer Portfolio Segment [Member] | Special Mention [Member] | ||
Financing receivable, gross | 0 | 0 |
Consumer Portfolio Segment [Member] | Substandard [Member] | ||
Financing receivable, gross | 0 | 49 |
Consumer Portfolio Segment [Member] | Doubtful [Member] | ||
Financing receivable, gross | $ 0 | $ 0 |
Note 3 - Loans - Loans by Perfo
Note 3 - Loans - Loans by Performance Status (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Financing receivable, gross | $ 7,261,451 | $ 6,533,499 |
Performing Financial Instruments [Member] | ||
Financing receivable, gross | 7,225,339 | 6,505,729 |
Nonperforming Financial Instruments [Member] | ||
Financing receivable, gross | 36,112 | 27,770 |
Commercial Real Estate Portfolio Segment [Member] | ||
Financing receivable, gross | 2,696,210 | 2,513,225 |
Commercial Real Estate Portfolio Segment [Member] | Performing Financial Instruments [Member] | ||
Financing receivable, gross | 2,681,280 | 2,502,117 |
Commercial Real Estate Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | ||
Financing receivable, gross | 14,930 | 11,108 |
Real Estate Portfolio Segment[Member] | ||
Financing receivable, gross | 3,979,060 | 3,422,589 |
Real Estate Portfolio Segment[Member] | Construction Loans [Member] | ||
Financing receivable, gross | 521,392 | 533,192 |
Real Estate Portfolio Segment[Member] | Owner Occupied Commercial [Member] | ||
Financing receivable, gross | 1,587,478 | 1,463,887 |
Real Estate Portfolio Segment[Member] | One to Four Family [Member] | ||
Financing receivable, gross | 644,188 | 621,634 |
Real Estate Portfolio Segment[Member] | Other Mortgages [Member] | ||
Financing receivable, gross | 1,747,394 | 1,337,068 |
Real Estate Portfolio Segment[Member] | Performing Financial Instruments [Member] | ||
Financing receivable, gross | 3,959,490 | 3,407,032 |
Real Estate Portfolio Segment[Member] | Performing Financial Instruments [Member] | Construction Loans [Member] | ||
Financing receivable, gross | 519,804 | 532,195 |
Real Estate Portfolio Segment[Member] | Performing Financial Instruments [Member] | Owner Occupied Commercial [Member] | ||
Financing receivable, gross | 1,576,652 | 1,460,529 |
Real Estate Portfolio Segment[Member] | Performing Financial Instruments [Member] | One to Four Family [Member] | ||
Financing receivable, gross | 641,875 | 619,465 |
Real Estate Portfolio Segment[Member] | Performing Financial Instruments [Member] | Other Mortgages [Member] | ||
Financing receivable, gross | 1,740,963 | 1,327,038 |
Real Estate Portfolio Segment[Member] | Nonperforming Financial Instruments [Member] | ||
Financing receivable, gross | 19,570 | 15,557 |
Real Estate Portfolio Segment[Member] | Nonperforming Financial Instruments [Member] | Construction Loans [Member] | ||
Financing receivable, gross | 1,588 | 997 |
Real Estate Portfolio Segment[Member] | Nonperforming Financial Instruments [Member] | Owner Occupied Commercial [Member] | ||
Financing receivable, gross | 10,826 | 3,358 |
Real Estate Portfolio Segment[Member] | Nonperforming Financial Instruments [Member] | One to Four Family [Member] | ||
Financing receivable, gross | 2,313 | 2,169 |
Real Estate Portfolio Segment[Member] | Nonperforming Financial Instruments [Member] | Other Mortgages [Member] | ||
Financing receivable, gross | 6,431 | 10,030 |
Consumer Portfolio Segment [Member] | ||
Financing receivable, gross | 64,789 | 64,493 |
Consumer Portfolio Segment [Member] | Performing Financial Instruments [Member] | ||
Financing receivable, gross | 64,766 | 64,385 |
Consumer Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | ||
Financing receivable, gross | $ 23 | $ 108 |
Note 3 - Loans - Loans Categori
Note 3 - Loans - Loans Categorized by Past Due Status (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Accrual loans, past due | $ 20,754 | $ 11,002 |
Non-accrual | 30,091 | 21,926 |
Current | 7,210,606 | 6,500,571 |
Loans | 7,261,451 | 6,533,499 |
Financial Asset, 30 to 59 Days Past Due [Member] | ||
Accrual loans, past due | 6,555 | 3,400 |
Financial Asset, 60 to 89 Days Past Due [Member] | ||
Accrual loans, past due | 8,178 | 1,758 |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Accrual loans, past due | 6,021 | 5,844 |
Commercial Real Estate Portfolio Segment [Member] | ||
Accrual loans, past due | 3,680 | 1,875 |
Non-accrual | 14,729 | 10,503 |
Current | 2,677,801 | 2,500,847 |
Loans | 2,696,210 | 2,513,225 |
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Accrual loans, past due | 3,135 | 1,222 |
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Accrual loans, past due | 344 | 48 |
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Accrual loans, past due | 201 | 605 |
Real Estate Portfolio Segment[Member] | ||
Accrual loans, past due | 16,161 | 7,486 |
Non-accrual | 13,773 | 10,426 |
Current | 3,949,126 | 3,404,677 |
Loans | 3,979,060 | 3,422,589 |
Real Estate Portfolio Segment[Member] | Construction Loans [Member] | ||
Accrual loans, past due | 830 | 1,352 |
Non-accrual | 1,588 | 997 |
Current | 518,974 | 530,843 |
Loans | 521,392 | 533,192 |
Real Estate Portfolio Segment[Member] | Owner Occupied Commercial [Member] | ||
Accrual loans, past due | 8,159 | 412 |
Non-accrual | 10,826 | 3,358 |
Current | 1,568,493 | 1,460,117 |
Loans | 1,587,478 | 1,463,887 |
Real Estate Portfolio Segment[Member] | One to Four Family [Member] | ||
Accrual loans, past due | 3,078 | 892 |
Non-accrual | 1,440 | 2,046 |
Current | 639,670 | 618,696 |
Loans | 644,188 | 621,634 |
Real Estate Portfolio Segment[Member] | Other Mortgages [Member] | ||
Accrual loans, past due | 4,924 | 6,182 |
Non-accrual | 1,507 | 5,022 |
Current | 1,740,963 | 1,325,864 |
Loans | 1,747,394 | 1,337,068 |
Real Estate Portfolio Segment[Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Accrual loans, past due | 2,555 | 2,120 |
Real Estate Portfolio Segment[Member] | Financial Asset, 30 to 59 Days Past Due [Member] | Construction Loans [Member] | ||
Accrual loans, past due | 830 | 0 |
Real Estate Portfolio Segment[Member] | Financial Asset, 30 to 59 Days Past Due [Member] | Owner Occupied Commercial [Member] | ||
Accrual loans, past due | 917 | 412 |
Real Estate Portfolio Segment[Member] | Financial Asset, 30 to 59 Days Past Due [Member] | One to Four Family [Member] | ||
Accrual loans, past due | 1,638 | 534 |
Real Estate Portfolio Segment[Member] | Financial Asset, 30 to 59 Days Past Due [Member] | Other Mortgages [Member] | ||
Accrual loans, past due | 0 | 1,174 |
Real Estate Portfolio Segment[Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Accrual loans, past due | 7,809 | 235 |
Real Estate Portfolio Segment[Member] | Financial Asset, 60 to 89 Days Past Due [Member] | Construction Loans [Member] | ||
Accrual loans, past due | 0 | 1,352 |
Real Estate Portfolio Segment[Member] | Financial Asset, 60 to 89 Days Past Due [Member] | Owner Occupied Commercial [Member] | ||
Accrual loans, past due | 7,242 | 0 |
Real Estate Portfolio Segment[Member] | Financial Asset, 60 to 89 Days Past Due [Member] | One to Four Family [Member] | ||
Accrual loans, past due | 567 | 235 |
Real Estate Portfolio Segment[Member] | Financial Asset, 60 to 89 Days Past Due [Member] | Other Mortgages [Member] | ||
Accrual loans, past due | 0 | 0 |
Real Estate Portfolio Segment[Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Accrual loans, past due | 5,797 | 5,131 |
Real Estate Portfolio Segment[Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Construction Loans [Member] | ||
Accrual loans, past due | 0 | 0 |
Real Estate Portfolio Segment[Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Owner Occupied Commercial [Member] | ||
Accrual loans, past due | 0 | 0 |
Real Estate Portfolio Segment[Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | One to Four Family [Member] | ||
Accrual loans, past due | 873 | 123 |
Real Estate Portfolio Segment[Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Other Mortgages [Member] | ||
Accrual loans, past due | 4,924 | 5,008 |
Consumer Portfolio Segment [Member] | ||
Accrual loans, past due | 83 | 289 |
Non-accrual | 0 | 0 |
Current | 64,706 | 64,204 |
Loans | 64,789 | 64,493 |
Consumer Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Accrual loans, past due | 35 | 58 |
Consumer Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Accrual loans, past due | 25 | 123 |
Consumer Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Accrual loans, past due | $ 23 | $ 108 |
Note 3 - Loans - Summary of Imp
Note 3 - Loans - Summary of Impaired Loans (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Recorded investment, with no allowance | $ 19,183 | $ 14,423 |
Unpaid principal balance, with no allowance | 20,831 | 14,610 |
Average recorded investment, with no allowance | 21,184 | 15,110 |
Interest income recognized in period, with no allowance | 1,308 | 658 |
Recorded investment, with an allowance | 23,965 | 24,168 |
Unpaid principal balance, with an allowance | 34,584 | 31,929 |
Related allowance | 9,804 | 8,128 |
Average recorded investment, with an allowance | 37,580 | 27,901 |
Interest income recognized in period, with an allowance | 745 | 848 |
Recorded investment | 43,148 | 38,591 |
Unpaid principal balance | 55,415 | 46,539 |
Average recorded investment | 58,764 | 43,011 |
Interest income recognized in period | 2,053 | 1,506 |
Commercial Real Estate Portfolio Segment [Member] | ||
Recorded investment, with no allowance | 9,015 | 6,064 |
Unpaid principal balance, with no allowance | 10,563 | 6,064 |
Average recorded investment, with no allowance | 11,284 | 6,142 |
Interest income recognized in period, with no allowance | 562 | 237 |
Recorded investment, with an allowance | 11,828 | 12,380 |
Unpaid principal balance, with an allowance | 19,307 | 20,141 |
Related allowance | 6,085 | 6,066 |
Average recorded investment, with an allowance | 19,714 | 15,918 |
Interest income recognized in period, with an allowance | 395 | 462 |
Recorded investment | 20,843 | 18,444 |
Unpaid principal balance | 29,870 | 26,205 |
Average recorded investment | 30,998 | 22,060 |
Interest income recognized in period | 957 | 699 |
Real Estate Portfolio Segment[Member] | ||
Recorded investment, with no allowance | 7,437 | 7,895 |
Unpaid principal balance, with no allowance | 7,533 | 8,079 |
Average recorded investment, with no allowance | 7,837 | 8,444 |
Interest income recognized in period, with no allowance | 620 | 393 |
Recorded investment, with an allowance | 10,548 | 10,742 |
Unpaid principal balance, with an allowance | 13,688 | 10,742 |
Related allowance | 3,633 | 1,887 |
Average recorded investment, with an allowance | 16,252 | 10,937 |
Interest income recognized in period, with an allowance | 323 | 352 |
Recorded investment | 17,985 | 18,637 |
Unpaid principal balance | 21,221 | 18,821 |
Average recorded investment | 24,089 | 19,381 |
Interest income recognized in period | 943 | 745 |
Real Estate Portfolio Segment[Member] | Construction Loans [Member] | ||
Recorded investment, with no allowance | 2,731 | 464 |
Unpaid principal balance, with no allowance | 2,735 | 467 |
Average recorded investment, with no allowance | 2,063 | 524 |
Interest income recognized in period, with no allowance | 126 | 28 |
Recorded investment, with an allowance | 1,589 | 997 |
Unpaid principal balance, with an allowance | 1,589 | 997 |
Related allowance | 86 | 126 |
Average recorded investment, with an allowance | 1,614 | 997 |
Interest income recognized in period, with an allowance | 27 | 31 |
Recorded investment | 4,320 | 1,461 |
Unpaid principal balance | 4,324 | 1,464 |
Average recorded investment | 3,677 | 1,521 |
Interest income recognized in period | 153 | 59 |
Real Estate Portfolio Segment[Member] | Owner Occupied Commercial [Member] | ||
Recorded investment, with no allowance | 7,150 | 1,763 |
Unpaid principal balance, with no allowance | 7,246 | 1,947 |
Average recorded investment, with no allowance | 7,548 | 2,223 |
Interest income recognized in period, with no allowance | 618 | 120 |
Recorded investment, with an allowance | 7,888 | 3,358 |
Unpaid principal balance, with an allowance | 11,028 | 3,358 |
Related allowance | 2,456 | 99 |
Average recorded investment, with an allowance | 13,627 | 3,364 |
Interest income recognized in period, with an allowance | 301 | 105 |
Recorded investment | 15,038 | 5,121 |
Unpaid principal balance | 18,274 | 5,305 |
Average recorded investment | 21,175 | 5,587 |
Interest income recognized in period | 919 | 225 |
Real Estate Portfolio Segment[Member] | One to Four Family [Member] | ||
Recorded investment, with no allowance | 287 | 1,071 |
Unpaid principal balance, with no allowance | 287 | 1,071 |
Average recorded investment, with no allowance | 289 | 1,088 |
Interest income recognized in period, with no allowance | 2 | 21 |
Recorded investment, with an allowance | 1,153 | 975 |
Unpaid principal balance, with an allowance | 1,153 | 975 |
Related allowance | 176 | 208 |
Average recorded investment, with an allowance | 1,157 | 975 |
Interest income recognized in period, with an allowance | 1 | 30 |
Recorded investment | 1,440 | 2,046 |
Unpaid principal balance | 1,440 | 2,046 |
Average recorded investment | 1,446 | 2,063 |
Interest income recognized in period | 3 | 51 |
Real Estate Portfolio Segment[Member] | Other Mortgages [Member] | ||
Recorded investment, with no allowance | 0 | 5,061 |
Unpaid principal balance, with no allowance | 0 | 5,061 |
Average recorded investment, with no allowance | 0 | 5,133 |
Interest income recognized in period, with no allowance | 0 | 252 |
Recorded investment, with an allowance | 1,507 | 6,409 |
Unpaid principal balance, with an allowance | 1,507 | 6,409 |
Related allowance | 1,001 | 1,580 |
Average recorded investment, with an allowance | 1,468 | 6,598 |
Interest income recognized in period, with an allowance | 21 | 217 |
Recorded investment | 1,507 | 11,470 |
Unpaid principal balance | 1,507 | 11,470 |
Average recorded investment | 1,468 | 11,731 |
Interest income recognized in period | 21 | 469 |
Consumer Portfolio Segment [Member] | ||
Recorded investment, with no allowance | 0 | 0 |
Unpaid principal balance, with no allowance | 0 | 0 |
Average recorded investment, with no allowance | 0 | 0 |
Interest income recognized in period, with no allowance | 0 | 0 |
Recorded investment, with an allowance | 0 | 49 |
Unpaid principal balance, with an allowance | 0 | 49 |
Related allowance | 0 | 49 |
Average recorded investment, with an allowance | 0 | 49 |
Interest income recognized in period, with an allowance | 0 | 3 |
Recorded investment | 0 | 49 |
Unpaid principal balance | 0 | 49 |
Average recorded investment | 0 | 49 |
Interest income recognized in period | $ 0 | $ 3 |
Note 3 - Loans - Troubled Debt
Note 3 - Loans - Troubled Debt Restructurings (Details) $ in Thousands | 12 Months Ended | |
Dec. 31, 2019USD ($) | Dec. 31, 2018USD ($) | |
Number of Contracts | 3 | 10 |
Post- Modification Outstanding Recorded Investment | $ 3,415 | $ 12,753 |
Pre- Modification Outstanding Recorded Investment | 3,415 | 12,753 |
Defaulted during the period, where modified in a TDR twelve months prior to default | $ 1,217 | $ 12,411 |
Commercial Real Estate Portfolio Segment [Member] | ||
Number of Contracts | 3 | 6 |
Post- Modification Outstanding Recorded Investment | $ 3,415 | $ 7,242 |
Pre- Modification Outstanding Recorded Investment | 3,415 | 7,242 |
Defaulted during the period, where modified in a TDR twelve months prior to default | $ 491 | $ 6,900 |
Real Estate Portfolio Segment[Member] | ||
Number of Contracts | 0 | 3 |
Post- Modification Outstanding Recorded Investment | $ 0 | $ 4,514 |
Pre- Modification Outstanding Recorded Investment | 0 | 4,514 |
Defaulted during the period, where modified in a TDR twelve months prior to default | $ 726 | $ 4,514 |
Real Estate Portfolio Segment[Member] | Construction Loans [Member] | ||
Number of Contracts | 0 | 1 |
Post- Modification Outstanding Recorded Investment | $ 0 | $ 997 |
Pre- Modification Outstanding Recorded Investment | 0 | 997 |
Defaulted during the period, where modified in a TDR twelve months prior to default | $ 0 | $ 997 |
Real Estate Portfolio Segment[Member] | Owner Occupied Commercial [Member] | ||
Number of Contracts | 0 | 2 |
Post- Modification Outstanding Recorded Investment | $ 0 | $ 3,664 |
Pre- Modification Outstanding Recorded Investment | 0 | 3,664 |
Defaulted during the period, where modified in a TDR twelve months prior to default | $ 726 | $ 3,664 |
Real Estate Portfolio Segment[Member] | One to Four Family [Member] | ||
Number of Contracts | 0 | 1 |
Post- Modification Outstanding Recorded Investment | $ 0 | $ 850 |
Pre- Modification Outstanding Recorded Investment | 0 | 850 |
Defaulted during the period, where modified in a TDR twelve months prior to default | $ 0 | $ 850 |
Real Estate Portfolio Segment[Member] | Other Mortgages [Member] | ||
Number of Contracts | 0 | 0 |
Post- Modification Outstanding Recorded Investment | $ 0 | $ 0 |
Pre- Modification Outstanding Recorded Investment | 0 | 0 |
Defaulted during the period, where modified in a TDR twelve months prior to default | $ 0 | $ 0 |
Consumer Portfolio Segment [Member] | ||
Number of Contracts | 0 | 0 |
Post- Modification Outstanding Recorded Investment | $ 0 | $ 0 |
Pre- Modification Outstanding Recorded Investment | 0 | 0 |
Defaulted during the period, where modified in a TDR twelve months prior to default | $ 0 | $ 0 |
Note 3 - Loans - Changes In Rel
Note 3 - Loans - Changes In Related Party Loans (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Balance, beginning of year | $ 5,428 | $ 8,440 |
Additions | 17,794 | 4,174 |
Advances | 4,861 | 3,657 |
Repayments | (3,400) | (10,843) |
Removal | (2) | 0 |
Balance, end of year | $ 24,681 | $ 5,428 |
Note 4 - Foreclosed Propertie_2
Note 4 - Foreclosed Properties - Summary of Foreclosed Properties (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Balance at beginning of year | $ 5,169 | $ 6,701 | $ 4,988 |
Transfers from loans and capitalized expenses | 4,611 | 3,087 | 4,685 |
Foreclosed properties sold | (1,437) | (3,934) | (2,982) |
Write downs and partial liquidations | (165) | (685) | 10 |
Balance at end of year | $ 8,178 | $ 5,169 | $ 6,701 |
Note 5 - Premises and Equipme_3
Note 5 - Premises and Equipment (Details Textual) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Depreciation, Depletion and Amortization, Nonproduction, Total | $ 3.7 | $ 3.4 | $ 2.6 |
Note 5 - Premises and Equipme_4
Note 5 - Premises and Equipment - Components of Premises and Equipment (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Property, plant, and equipment, gross | $ 79,052 | $ 76,990 |
Accumulated depreciation | (22,556) | (19,168) |
Total premises and equipment, net | 56,496 | 57,822 |
Land [Member] | ||
Property, plant, and equipment, gross | 5,830 | 5,489 |
Building [Member] | ||
Property, plant, and equipment, gross | 36,365 | 36,337 |
Furniture and Equipment [Member] | ||
Property, plant, and equipment, gross | 26,153 | 24,774 |
Leasehold Improvements [Member] | ||
Property, plant, and equipment, gross | 10,681 | 10,190 |
Construction in Progress [Member] | ||
Property, plant, and equipment, gross | $ 23 | $ 200 |
Note 6 - Leases - Lease Costs (
Note 6 - Leases - Lease Costs (Details) $ in Thousands | 12 Months Ended |
Dec. 31, 2019USD ($) | |
Weighted average remaining lease term (Year) | 5 years 6 months |
Weighted average discount rate | 3.18% |
Operating lease cost | $ 3,421 |
Short-term lease cost | 65 |
Variable lease cost | 154 |
Sublease income | (70) |
Net lease cost | 3,570 |
Other Assets [Member] | |
Right-of-use assets | 13,292 |
Other Liabilities [Member] | |
Lease liabilities | $ 13,350 |
Note 6 - Leases - Maturities of
Note 6 - Leases - Maturities of Operating Lease Liabilities (Details) $ in Thousands | Dec. 31, 2019USD ($) |
2020 | $ 3,005 |
2021 | 2,383 |
2022 | 2,425 |
2023 | 2,024 |
2024 | 1,074 |
Thereafter | 2,439 |
Total | $ 13,350 |
Note 7 - Variable Interest En_2
Note 7 - Variable Interest Entities (VIEs) (Details Textual) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Loan [Member] | ||
Limited Partners' Capital Account, Total | $ 12.1 | $ 12.8 |
Partnership Investment [Member] | ||
Limited Partners' Capital Account, Total | $ 16.6 | $ 18.9 |
Note 8 - Deposits (Details Text
Note 8 - Deposits (Details Textual) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Overdraft Deposit Reclassification | $ 4.2 | $ 10.9 |
Note 8 - Deposits - Summary of
Note 8 - Deposits - Summary of Deposits (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Non-interest-bearing demand | $ 1,749,879 | $ 1,557,341 |
Interest-bearing checking | 4,986,193 | 4,624,909 |
Savings | 65,808 | 53,880 |
Time deposits, $250,000 and under | 267,221 | 257,925 |
Time deposits, over $250,000 | 461,332 | 421,653 |
Total | $ 7,530,433 | $ 6,915,708 |
Note 8 - Deposits - Scheduled M
Note 8 - Deposits - Scheduled Maturities of Time Deposits (Details) $ in Thousands | Dec. 31, 2019USD ($) |
2020 | $ 415,448 |
2021 | 172,030 |
2022 | 57,820 |
2023 | 58,812 |
2024 | 24,443 |
Total | $ 728,553 |
Note 9 - Federal Funds Purcha_2
Note 9 - Federal Funds Purchased (Details Textual) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Federal Funds Purchased, Portion from Customers of Correspondent Banks | $ 385.7 | $ 288.7 |
Short-term Borrowings from Various Financial Institutions [Member] | ||
Line of Credit Facility, Maximum Borrowing Capacity | 767 | $ 562 |
Long-term Line of Credit, Total | $ 85 | |
Debt Instrument, Interest Rate, Effective Percentage | 1.61% | |
Federal Funds Purchased [Member] | Minimum [Member] | ||
Debt Instrument, Interest Rate, Stated Percentage | 1.60% | 2.50% |
Federal Funds Purchased [Member] | Maximum [Member] | ||
Debt Instrument, Interest Rate, Stated Percentage | 1.67% | 2.65% |
Note 10 - Other Borrowings (Det
Note 10 - Other Borrowings (Details Textual) - USD ($) | Dec. 31, 2019 | Dec. 31, 2018 |
Other Borrowings | $ 64,703,000 | $ 64,666,000 |
Debt Issuance Costs, Net, Total | 47,000 | $ 84,000 |
Subordinated Notes Due July 15, 2025 [Member] | ||
Other Borrowings | $ 34,750,000 | |
Debt Instrument, Interest Rate, Stated Percentage | 5.00% | |
Subordinates Note Due November 8, 2027 [Member] | ||
Other Borrowings | $ 30,000,000 | |
Debt Instrument, Interest Rate, Stated Percentage | 4.50% |
Note 13 - Employee and Direct_3
Note 13 - Employee and Director Benefits (Details Textual) - USD ($) | 12 Months Ended | ||||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2014 | Mar. 23, 2009 | |
Share-based Payment Arrangement, Noncash Expense, Total | $ 1,100,000 | $ 851,000 | $ 1,170,000 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value | $ 12.40 | $ 12.76 | $ 11.82 | ||
Postemployment Benefits, Period Expense | $ 1,700,000 | $ 1,500,000 | $ 1,400,000 | ||
Share-based Payment Arrangement, Option [Member] | |||||
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total | $ 1,300,000 | ||||
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition | 1 year 3 months 18 days | ||||
Restricted Stock [Member] | |||||
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total | $ 1,400,000 | ||||
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition | 2 years 6 months | ||||
The 2009 Plan [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 5,550,000 | 2,550,000 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | 3,202,060 |
Note 13 - Employee and Direct_4
Note 13 - Employee and Director Benefits - Assumptions Used to Estimate Fair Value of Stock Option Awards (Details) - Share-based Payment Arrangement, Option [Member] | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Expected price volatility | 40.00% | 35.39% | 29.00% |
Expected dividend yield | 1.76% | 1.24% | 0.44% |
Expected term (Year) | 7 years | 6 years | 6 years |
Risk-free rate | 1.96% | 2.90% | 2.08% |
Note 13 - Employee and Direct_5
Note 13 - Employee and Director Benefits - Summary of Stock Option Activity (Details) - USD ($) $ / shares in Units, $ in Thousands | 12 Months Ended | |||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Shares, exercisable (in shares) | 278,500 | |||
Weighted Average Exercise Price, exercisable (in dollars per share) | $ 8.28 | |||
Weighted Average Remaining Contractual Term, exercisable (Year) | 3 years | |||
Aggregate Intrinsic Value, exercisable | $ 8,355 | |||
Share-based Payment Arrangement, Option [Member] | ||||
Outstanding, shares (in shares) | 1,238,748 | 1,666,834 | 2,026,334 | |
Outstanding, weighted average exercise price (in dollars per share) | $ 13.02 | $ 10.68 | $ 9 | |
Outstanding, weighted average remaining contractual term (Year) | 4 years 10 months 24 days | 5 years 2 months 12 days | 5 years 6 months | 6 years 2 months 12 days |
Outstanding, aggregate intrinsic value | $ 21,911 | $ 23,355 | $ 51,377 | $ 57,636 |
Granted (in shares) | 35,500 | 42,250 | 58,000 | |
Granted, weighted average exercise price (in dollars per share) | $ 34.06 | $ 37.21 | $ 37.59 | |
Granted, weighted average remaining contractual term (Year) | 9 years 7 months 6 days | 9 years 7 months 6 days | 9 years 1 month 6 days | |
Granted, aggregate intrinsic value | $ 129 | $ 0 | $ 227 | |
Exercised (in shares) | (288,800) | (414,336) | (385,500) | |
Exercised, weighted average exercise price (in dollars per share) | $ 7.56 | $ 5.73 | $ 4.96 | |
Exercised, weighted average remaining contractual term (Year) | 2 years 6 months | 2 years 9 months 18 days | 4 years | |
Exercised, aggregate intrinsic value | $ 8,534 | $ 10,832 | $ 14,087 | |
Forfeited (in shares) | (20,200) | (56,000) | (32,000) | |
Forfeited, weighted average exercise price (in dollars per share) | $ 24.88 | $ 15.40 | $ 21.96 | |
Forfeited, weighted average remaining contractual term (Year) | 6 years 2 months 12 days | 6 years 2 months 12 days | 8 years 1 month 6 days | |
Forfeited, aggregate intrinsic value | $ 259 | $ 912 | $ 625 | |
Shares, exercisable (in shares) | 278,500 | 510,100 | 808,236 | |
Weighted Average Exercise Price, exercisable (in dollars per share) | $ 8.28 | $ 7.08 | $ 5.22 | |
Weighted Average Remaining Contractual Term, exercisable (Year) | 3 years | 3 years 6 months | 3 years 10 months 24 days | |
Aggregate Intrinsic Value, exercisable | $ 8,355 | $ 12,645 | $ 29,321 | |
Outstanding, shares (in shares) | 965,248 | 1,238,748 | 1,666,834 | 2,026,334 |
Outstanding, weighted average exercise price (in dollars per share) | $ 15.19 | $ 13.02 | $ 10.68 | $ 9 |
Note 13 - Employee and Direct_6
Note 13 - Employee and Director Benefits - Exercisable Options Activity (Details) | 12 Months Ended |
Dec. 31, 2019USD ($)$ / sharesshares | |
Shares, exercisable (in shares) | shares | 278,500 |
Weighted Average Exercise Price, exercisable (in dollars per share) | $ / shares | $ 8.28 |
Weighted Average Remaining Contractual Term, exercisable (Year) | 3 years |
Aggregate Intrinsic Value, exercisable | $ | $ 8,355,000 |
Exercise Price Range 1 [Member] | |
Shares, exercisable (in shares) | shares | 5,500 |
Weighted Average Exercise Price, exercisable (in dollars per share) | $ / shares | $ 4.17 |
Weighted Average Remaining Contractual Term, exercisable (Year) | 1 year |
Aggregate Intrinsic Value, exercisable | $ | $ 199,000 |
Exercise Price Range 2 [Member] | |
Shares, exercisable (in shares) | shares | 79,500 |
Weighted Average Exercise Price, exercisable (in dollars per share) | $ / shares | $ 5 |
Weighted Average Remaining Contractual Term, exercisable (Year) | 2 years 1 month 6 days |
Aggregate Intrinsic Value, exercisable | $ | $ 3,022,000 |
Exercise Price Range 3 [Member] | |
Shares, exercisable (in shares) | shares | 80,000 |
Weighted Average Exercise Price, exercisable (in dollars per share) | $ / shares | $ 5.50 |
Weighted Average Remaining Contractual Term, exercisable (Year) | 2 years 2 months 12 days |
Aggregate Intrinsic Value, exercisable | $ | $ 2,362,000 |
Exercise Price Range 4 [Member] | |
Shares, exercisable (in shares) | shares | 37,500 |
Weighted Average Exercise Price, exercisable (in dollars per share) | $ / shares | $ 6.92 |
Weighted Average Remaining Contractual Term, exercisable (Year) | 4 years |
Aggregate Intrinsic Value, exercisable | $ | $ 1,154,000 |
Exercise Price Range 5 [Member] | |
Shares, exercisable (in shares) | shares | 50,000 |
Weighted Average Exercise Price, exercisable (in dollars per share) | $ / shares | $ 15.25 |
Weighted Average Remaining Contractual Term, exercisable (Year) | 5 years |
Aggregate Intrinsic Value, exercisable | $ | $ 1,121 |
Exercise Price Range 6 [Member] | |
Shares, exercisable (in shares) | shares | 26,000 |
Weighted Average Exercise Price, exercisable (in dollars per share) | $ / shares | $ 18.57 |
Weighted Average Remaining Contractual Term, exercisable (Year) | 3 years 6 months |
Aggregate Intrinsic Value, exercisable | $ | $ 497,000 |
Note 13 - Employee and Direct_7
Note 13 - Employee and Director Benefits - Summary of Restricted Stock Activity (Details) - Restricted Stock [Member] - $ / shares | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Non-vested, shares (in shares) | 42,576 | 120,676 | 118,676 |
Non-vested, weighted average grant date fair value (in dollars per share) | $ 29.96 | $ 10.29 | $ 8.88 |
Granted, shares (in shares) | 35,164 | 16,350 | 7,000 |
Granted, weighted average grant date fair value (in dollars per share) | $ 33.61 | $ 39.84 | $ 38.02 |
Vested, shares (in shares) | (5,450) | (93,200) | (5,000) |
Vested, weighted average grant date fair value (in dollars per share) | $ 20.92 | $ 6.07 | $ 15.74 |
Forfeited, shares (in shares) | (2,500) | (1,250) | |
Forfeited, weighted average grant date fair value (in dollars per share) | $ 38.17 | $ 41.21 | |
Non-vested, shares (in shares) | 69,790 | 42,576 | 120,676 |
Non-vested, weighted average grant date fair value (in dollars per share) | $ 32.21 | $ 29.96 | $ 10.29 |
Note 14 - Regulatory Matters (D
Note 14 - Regulatory Matters (Details Textual) $ in Millions | Dec. 31, 2019USD ($) |
Cumulative Dividends | $ 339 |
Excess Tier One Common Equity Risk Weighted Assets | 2.50% |
Note 14 - Regulatory Matters -
Note 14 - Regulatory Matters - The Company's and Bank's Actual Capital Amounts and Ratios (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
CET 1 Capital to risk weighted assets, amount | $ 822,396 | $ 705,203 |
CET 1 Capital to risk weighted assets, ratio | 10.50% | 10.12% |
CET 1 Capital to risk weighted assets, for capital adequacy purposes, amount | $ 342,283 | $ 313,564 |
CET 1 capital to risk weighted assets, for capital adequacy purposes, ratio | 4.50% | 4.50% |
Tier 1 capital to risk weighted assets, amount | $ 822,896 | $ 705,705 |
Tier 1 capital to risk weighted assets, ratio | 10.50% | 10.13% |
Tier 1 capital to risk weighted assets, for capital adequacy purposes, amount | $ 456,377 | $ 418,086 |
Tier 1 capital to risk weighted assets, for capital adequacy purposes, ratio | 6.00% | 6.00% |
Total capital to risk weighted assets, amount | $ 964,683 | $ 839,471 |
Total capital to risk weighted assets, ratio | 12.31% | 12.05% |
Total capital to risk weighted assets, for capital adequacy purposes, amount | $ 608,502 | $ 557,448 |
Total capital to risk weighted assets, for capital adequacy purposes, ratio | 8.00% | 8.00% |
Tier 1 capital to average assets, amount | $ 822,896 | $ 705,705 |
Tier 1 capital to average assets, ratio | 9.13% | 9.07% |
Tier 1 capital to average assets, for capital adequacy purposes, amount | $ 356,012 | $ 311,214 |
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 | $ 885,172 | $ 768,614 |
CET 1 Capital to risk weighted assets, ratio | 11.30% | 11.03% |
CET 1 Capital to risk weighted assets, for capital adequacy purposes, amount | $ 342,269 | $ 313,554 |
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 | $ 494,389 | $ 452,911 |
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 | $ 885,674 | $ 769,116 |
Tier 1 capital to risk weighted assets, ratio | 11.31% | 11.04% |
Tier 1 capital to risk weighted assets, for capital adequacy purposes, amount | $ 456,359 | $ 418,071 |
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 | $ 608,479 | $ 557,428 |
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 | $ 962,758 | $ 838,216 |
Total capital to risk weighted assets, ratio | 12.29% | 12.03% |
Total capital to risk weighted assets, for capital adequacy purposes, amount | $ 608,479 | $ 557,428 |
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 | $ 760,598 | $ 696,786 |
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 | $ 885,674 | $ 769,116 |
Tier 1 capital to average assets, ratio | 9.83% | 9.89% |
Tier 1 capital to average assets, for capital adequacy purposes, amount | $ 355,998 | $ 311,206 |
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 | $ 444,997 | $ 389,007 |
Tier 1 capital to average assets, to be well capitalized uner prompt corrective action provisions, ratio | 5.00% | 5.00% |
Note 15 - Other Operating Inc_3
Note 15 - 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, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
ATM fee income | $ 1,477 | $ 876 | $ 711 |
Gain (loss) on sale of fixed assets | 5 | 0 | 1 |
Other | 261 | 363 | 387 |
Total other operating income | 1,743 | 1,239 | 1,099 |
Data processing | 8,801 | 6,667 | 5,454 |
Other loan expenses | 3,476 | 2,711 | 2,170 |
Customer and public relations | 2,545 | 2,182 | 2,008 |
Bank service charges | 2,432 | 2,004 | 1,522 |
Sales and use tax | 640 | 733 | 1,167 |
Write-down investment in tax credit partnerships | 746 | 750 | 1,081 |
Telephone | 1,131 | 919 | 990 |
Donations and contributions | 837 | 859 | 744 |
Marketing | 581 | 557 | 716 |
Supplies | 572 | 550 | 595 |
Fraud and forgery losses | 577 | 464 | 515 |
Directors fees | 545 | 467 | 472 |
Postage | 393 | 439 | 441 |
Other operational losses | 36 | 519 | 167 |
Other | 4,136 | 3,477 | 3,087 |
Total other operating expenses | $ 27,448 | $ 23,298 | $ 21,129 |
Note 16 - Income Taxes (Details
Note 16 - Income Taxes (Details Textual) - USD ($) | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 21.00% | 21.00% | 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, Total | $ 135,000 | $ 106,000 | |
Unrecognized Tax Benefits that Would Impact Effective Tax Rate | $ 2,683,000 | $ 2,133,000 |
Note 16 - Income Taxes - Income
Note 16 - Income Taxes - Income Tax Expense (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Federal | $ 36,683 | $ 43,207 | $ 27,952 |
State | 2,012 | 2,950 | 2,258 |
Total current tax expense | 38,695 | 46,157 | 30,210 |
Federal | (166) | (12,636) | 17,073 |
State | (911) | (1,619) | (3,025) |
Total deferred tax (benefit) expense | (1,077) | (14,255) | 14,048 |
Effective income tax and rate, amount | $ 37,618 | $ 31,902 | $ 44,258 |
Note 16 - Income Taxes - Reconc
Note 16 - Income Taxes - Reconciliation From Federal Income Tax Statutory Rates to Income Before Income Taxes (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Income tax at statutory federal rate, amount | $ 39,241 | $ 35,457 | $ 48,073 |
Income tax at statutory federal rate, pre-tax earnings | 21.00% | 21.00% | 35.00% |
State income tax, net of federal tax effect, amount | $ 822 | $ 808 | $ 43 |
State income tax, net of federal tax effect, pre-tax earnings | 0.44% | 0.48% | 0.03% |
Tax-exempt income, net of expenses, amount | $ (461) | $ (655) | $ (1,356) |
Tax-exempt income, net of expenses, pre-tax earnings | (0.25%) | (0.39%) | (0.99%) |
Bank owned life insurance contracts, amount | $ (787) | $ (657) | $ (1,096) |
Bank owned life insurance contracts, pre-tax earnings | (0.42%) | (0.39%) | (0.80%) |
Excess tax benefit from stock compensation, amount | $ (1,405) | $ (3,118) | $ (4,278) |
Excess tax benefit from stock compensation, pre-tax earnings | (0.75%) | (1.84%) | (3.11%) |
Federal tax credits, amount | $ (170) | $ (113) | $ (234) |
Federal tax credits, pre-tax earnings | (0.09%) | (0.07%) | (0.17%) |
Other, amount | $ 378 | $ 180 | $ (2) |
Other, pre-tax earnings | 0.20% | 0.10% | 0.00% |
Effective income tax and rate, amount | $ 37,618 | $ 31,902 | $ 44,258 |
Effective income tax and rate, pre-tax earnings | 20.13% | 18.89% | 32.22% |
Enacted tax rate change, amount | $ 3,108 | ||
Enacted tax rate change, pre-tax earnings | 2.26% |
Note 16 - Income Taxes - Compon
Note 16 - Income Taxes - Components of Net Deferred Tax Asset (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Deferred tax assets: | ||
Allowance for loan losses | $ 17,733 | $ 17,212 |
Other real estate owned | 225 | 317 |
Nonqualified equity awards | 953 | 788 |
Nonaccrual interest | 231 | 311 |
State tax credits | 7,787 | 6,791 |
Investments | 1,119 | 1,130 |
Deferred loan fees | 891 | 804 |
Reserve for unfunded commitments | 183 | 135 |
Accrued bonus | 2,029 | 2,025 |
Differences in amounts reflected in financial statements and income tax basis of assets acquired and liabilities assumed in acquisition | 121 | 139 |
Net unrealized loss on securities available for sale | 0 | 1,273 |
Other deferred tax assets | 487 | 669 |
Total deferred tax assets | 31,759 | 31,594 |
Deferred tax liabilities: | ||
Net unrealized gain on securities available for sale | 1,515 | 0 |
Depreciation | 4,021 | 3,732 |
Prepaid expenses | 516 | 376 |
Acquired intangible assets | 141 | 209 |
Total deferred tax liabilities | 6,193 | 4,317 |
Net deferred tax assets | $ 25,566 | $ 27,277 |
Note 16 - Income Taxes - Summar
Note 16 - Income Taxes - Summary of the Changes in the Amount of Unrecognized Tax Benefits (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Balance, beginning of year | $ 2,133 | $ 1,779 | $ 1,375 |
Increases related to prior year tax positions | 998 | 799 | 365 |
Decreases related to prior year tax positions | 0 | 0 | 0 |
Increases related to current year tax positions | 0 | 0 | 0 |
Settlements | 0 | 0 | 0 |
Enacted tax rate change | 0 | 0 | 315 |
Lapse of statute | (448) | (445) | (276) |
Balance, end of year | $ 2,683 | $ 2,133 | $ 1,779 |
Note 17 - Commitments and Con_3
Note 17 - Commitments and Contingencies - Summary of Commitments and Contingent Liabilities (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Commitments to extend credit | $ 2,303,788 | $ 1,985,801 | $ 1,945,171 |
Credit card arrangements | 248,617 | 173,613 | 128,149 |
Standby letters of credit and financial guarantees | 48,394 | 40,590 | 41,654 |
Total | $ 2,600,799 | $ 2,200,004 | $ 2,114,974 |
Note 19 - Earnings Per Common_3
Note 19 - 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, 2019 | Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Weighted average common shares outstanding (in shares) | 53,530,766 | 53,172,695 | 52,887,359 | ||||||||
Net income available to common stockholders | $ 41,005 | $ 37,563 | $ 35,602 | $ 35,010 | $ 36,205 | $ 34,560 | $ 33,509 | $ 32,603 | $ 149,180 | $ 136,877 | $ 93,030 |
Basic earnings per common share (in dollars per share) | $ 0.77 | $ 0.70 | $ 0.67 | $ 0.65 | $ 0.68 | $ 0.65 | $ 0.63 | $ 0.61 | $ 2.79 | $ 2.57 | $ 1.76 |
Dilutive effects of assumed conversions and exercise of stock options and warrants (in shares) | 572,308 | 997,184 | 1,236,598 | ||||||||
Weighted average common and dilutive potential common shares outstanding (in shares) | 54,103,074 | 54,169,879 | 54,123,957 | ||||||||
Net income available to common stockholders | $ 149,180 | $ 136,877 | $ 93,030 | ||||||||
Diluted earnings per common share (in dollars per share) | $ 0.76 | $ 0.69 | $ 0.66 | $ 0.65 | $ 0.67 | $ 0.64 | $ 0.62 | $ 0.60 | $ 2.76 | $ 2.53 | $ 1.72 |
Note 20 - Related Party Trans_2
Note 20 - Related Party Transactions (Details Textual) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Loans and Leases Receivable, Net of Deferred Income, Total | $ 7,261,451 | $ 6,533,499 |
Related Party Deposit Liabilities | 5,900 | 6,600 |
Related Party [Member] | ||
Loans and Leases Receivable, Net of Deferred Income, Total | $ 24,700 | $ 5,400 |
Note 21 - Fair Value Measurem_3
Note 21 - Fair Value Measurement (Details Textual) - USD ($) | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Asset Impairment Charges, Total | $ 22,924,000 | $ 14,942,000 |
Real Estate Owned, Amount of Loss at Acquisition | 432,000 | 775,000 |
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate, Foreclosure | 103,000 | $ 360,000 |
Mortgage Loans in Process of Foreclosure, Amount | $ 287,000 |
Note 21 - Fair Value Measurem_4
Note 21 - Fair Value Measurement - Financial Assets and Financial Liabilities Carried at Fair Value on a Recurring Basis (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Debt securities available for sale | $ 759,399 | $ 590,184 |
US Treasury Securities [Member] | ||
Debt securities available for sale | 49,210 | 58,428 |
US Government Agencies Debt Securities [Member] | ||
Debt securities available for sale | 18,386 | 18,565 |
Collateralized Mortgage Backed Securities [Member] | ||
Debt securities available for sale | 474,054 | 304,304 |
US States and Political Subdivisions Debt Securities [Member] | ||
Debt securities available for sale | 57,272 | 105,994 |
Corporate Debt Securities [Member] | ||
Debt securities available for sale | 160,477 | 102,893 |
Fair Value, Recurring [Member] | ||
Debt securities available for sale | 759,399 | 590,184 |
Fair Value, Recurring [Member] | US Treasury Securities [Member] | ||
Debt securities available for sale | 49,210 | 58,428 |
Fair Value, Recurring [Member] | US Government Agencies Debt Securities [Member] | ||
Debt securities available for sale | 18,386 | 18,565 |
Fair Value, Recurring [Member] | Collateralized Mortgage Backed Securities [Member] | ||
Debt securities available for sale | 474,054 | 304,304 |
Fair Value, Recurring [Member] | US States and Political Subdivisions Debt Securities [Member] | ||
Debt securities available for sale | 57,272 | 105,994 |
Fair Value, Recurring [Member] | Corporate Debt Securities [Member] | ||
Debt securities available for sale | 160,477 | 102,893 |
Fair Value, Inputs, Level 1 [Member] | Fair Value, Recurring [Member] | ||
Debt securities available for sale | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | Fair Value, Recurring [Member] | US Treasury Securities [Member] | ||
Debt securities available for sale | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | Fair Value, Recurring [Member] | Collateralized Mortgage Backed Securities [Member] | ||
Debt securities available for sale | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | Fair Value, Recurring [Member] | US States and Political Subdivisions Debt Securities [Member] | ||
Debt securities available for sale | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | Fair Value, Recurring [Member] | Corporate Debt Securities [Member] | ||
Debt securities available for sale | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | Fair Value, Recurring [Member] | ||
Debt securities available for sale | 752,803 | 583,666 |
Fair Value, Inputs, Level 2 [Member] | Fair Value, Recurring [Member] | US Treasury Securities [Member] | ||
Debt securities available for sale | 49,210 | 58,428 |
Fair Value, Inputs, Level 2 [Member] | Fair Value, Recurring [Member] | US Government Agencies Debt Securities [Member] | ||
Debt securities available for sale | 18,386 | 18,565 |
Fair Value, Inputs, Level 2 [Member] | Fair Value, Recurring [Member] | Collateralized Mortgage Backed Securities [Member] | ||
Debt securities available for sale | 474,054 | 304,304 |
Fair Value, Inputs, Level 2 [Member] | Fair Value, Recurring [Member] | US States and Political Subdivisions Debt Securities [Member] | ||
Debt securities available for sale | 57,272 | 105,994 |
Fair Value, Inputs, Level 2 [Member] | Fair Value, Recurring [Member] | Corporate Debt Securities [Member] | ||
Debt securities available for sale | 153,881 | 96,375 |
Fair Value, Inputs, Level 3 [Member] | ||
Debt securities available for sale | 6,596 | 6,518 |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Recurring [Member] | ||
Debt securities available for sale | 6,596 | 6,518 |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Recurring [Member] | US Treasury Securities [Member] | ||
Debt securities available for sale | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Recurring [Member] | Collateralized Mortgage Backed Securities [Member] | ||
Debt securities available for sale | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Recurring [Member] | US States and Political Subdivisions Debt Securities [Member] | ||
Debt securities available for sale | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Recurring [Member] | Corporate Debt Securities [Member] | ||
Debt securities available for sale | $ 6,596 | $ 6,518 |
Note 21 - Fair Value Measurem_5
Note 21 - Fair Value Measurement - Carrying Amount and Estimated Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Impaired loans | $ 33,344 | $ 30,463 |
Other real estate owned and repossessed assets | 8,178 | 5,169 |
Total assets at fair value | 41,522 | 35,632 |
Fair Value, Inputs, Level 1 [Member] | ||
Impaired loans | 0 | 0 |
Other real estate owned and repossessed assets | 0 | 0 |
Total assets at fair value | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | ||
Impaired loans | 0 | 0 |
Other real estate owned and repossessed assets | 0 | 0 |
Total assets at fair value | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | ||
Impaired loans | 33,344 | 30,463 |
Other real estate owned and repossessed assets | 8,178 | 5,169 |
Total assets at fair value | $ 41,522 | $ 35,632 |
Note 21 - Fair Value Measurem_6
Note 21 - Fair Value Measurement - Financial Assets and Liabilities Carried at Fair Value on Recurring Basis or Nonrecurring Basis (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Cash and cash equivalents | $ 78,618 | $ 97,516 |
Debt securities available for sale | 759,399 | 590,184 |
Federal funds sold | 100,473 | 223,845 |
Mortgage loans held for sale | 6,312 | 120 |
Debt securities held to maturity | 250 | 0 |
Loans and Leases Receivable, Net Amount, Total | 7,184,867 | 6,464,899 |
Federal funds purchased | 470,749 | 288,725 |
Fair Value, Inputs, Level 3 [Member] | ||
Debt securities available for sale | 6,596 | 6,518 |
Debt securities held to maturity | 250 | 0 |
Reported Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Cash and cash equivalents | 530,127 | 458,050 |
Reported Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Debt securities available for sale | 752,803 | 583,666 |
Equity securities | 0 | 894 |
Federal funds sold | 100,473 | 223,845 |
Mortgage loans held for sale | 6,302 | 120 |
Deposits | 7,530,433 | 6,915,708 |
Federal funds purchased | 470,749 | 288,725 |
Other borrowings | 64,703 | 64,666 |
Reported Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Loans and Leases Receivable, Net Amount, Total | 7,184,867 | 6,464,899 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Cash and cash equivalents | 530,127 | 458,050 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Debt securities available for sale | 752,803 | 583,666 |
Equity securities | 0 | 894 |
Federal funds sold | 100,473 | 223,845 |
Mortgage loans held for sale | 6,312 | 121 |
Deposits | 7,534,984 | 6,910,176 |
Federal funds purchased | 470,749 | 288,725 |
Other borrowings | 65,048 | 64,613 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Loans and Leases Receivable, Net Amount, Total | $ 7,132,542 | $ 6,398,604 |
Note 22 - Parent Company Fina_3
Note 22 - Parent Company Financial Information - Condensed Balance Sheets (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 |
Cash and due from banks | $ 78,618 | $ 97,516 | ||
Other assets | 26,149 | 10,848 | ||
Total assets | 8,947,653 | 8,007,382 | ||
Other borrowings | 64,703 | 64,666 | ||
Other liabilities | 27,152 | 12,699 | ||
Total liabilities | 8,104,971 | 7,292,179 | ||
Preferred stock, par value $0.001 per share; 1,000,000 authorized and undesignated at December 31, 2019 and December 31, 2018 | 0 | 0 | ||
Common stock, par value $0.001 per share; 100,000,000 shares authorized; 53,623,740 shares issued and outstanding at December 31, 2019 and 53,375,195 shares issued and outstanding at December 31, 2018 | 54 | 53 | ||
Additional paid-in capital | 219,766 | 218,521 | ||
Retained earnings | 616,611 | 500,868 | ||
Accumulated other comprehensive (loss) income | 5,749 | (4,741) | ||
Total stockholders' equity | 842,682 | 715,203 | $ 607,604 | $ 522,889 |
Total liabilities and stockholders' equity | 8,947,653 | 8,007,382 | ||
Parent Company [Member] | ||||
Cash and due from banks | 10,071 | 9,034 | ||
Investment in subsidiary | 904,958 | 778,112 | ||
Other assets | 1,238 | 239 | ||
Total assets | 916,267 | 787,385 | ||
Other borrowings | 64,703 | 64,666 | ||
Other liabilities | 9,384 | 8,018 | ||
Total liabilities | 74,087 | 72,684 | ||
Preferred stock, par value $0.001 per share; 1,000,000 authorized and undesignated at December 31, 2019 and December 31, 2018 | 0 | 0 | ||
Common stock, par value $0.001 per share; 100,000,000 shares authorized; 53,623,740 shares issued and outstanding at December 31, 2019 and 53,375,195 shares issued and outstanding at December 31, 2018 | 54 | 53 | ||
Additional paid-in capital | 219,766 | 218,521 | ||
Retained earnings | 616,611 | 500,868 | ||
Accumulated other comprehensive (loss) income | 5,749 | (4,741) | ||
Total stockholders' equity | 842,180 | 714,701 | ||
Total liabilities and stockholders' equity | $ 916,267 | $ 787,385 |
Note 22 - Parent Company Fina_4
Note 22 - Parent Company Financial Information - Condensed Balance Sheets (Details) (Parentheticals) - $ / shares | Dec. 31, 2019 | Dec. 31, 2018 |
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) | 53,623,740 | 53,375,195 |
Common stock, shares outstanding (in shares) | 53,623,740 | 53,375,195 |
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) | 53,623,740 | 53,375,195 |
Common stock, shares outstanding (in shares) | 53,623,740 | 53,375,195 |
Note 22 - Parent Company Fina_5
Note 22 - Parent Company Financial Information - Condensed Statements of Income (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2019 | Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Net income | $ 149,243 | $ 136,940 | $ 93,092 | ||||||||
Dividends on preferred stock | 63 | 63 | 62 | ||||||||
Net income available to common stockholders | $ 41,005 | $ 37,563 | $ 35,602 | $ 35,010 | $ 36,205 | $ 34,560 | $ 33,509 | $ 32,603 | 149,180 | 136,877 | 93,030 |
Parent Company [Member] | |||||||||||
Dividends received from subsidiary | 37,000 | 23,000 | 6,500 | ||||||||
Other income | 0 | 176 | 2 | ||||||||
Total income | 37,000 | 23,176 | 6,502 | ||||||||
Other expenses | 2,930 | 2,933 | 2,260 | ||||||||
Total expenses | 2,930 | 2,933 | 2,260 | ||||||||
Equity in undistributed earnings of subsidiary | 115,110 | 116,634 | 88,788 | ||||||||
Net income | 149,180 | 136,877 | 93,030 | ||||||||
Dividends on preferred stock | 0 | 0 | 0 | ||||||||
Net income available to common stockholders | $ 149,180 | $ 136,877 | $ 93,030 |
Note 22 - Parent Company Fina_6
Note 22 - Parent Company Financial Information - Statements of Cash Flow (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Net income | $ 149,243 | $ 136,940 | $ 93,092 |
Net cash provided by operating activities | 164,275 | 168,301 | |
Net cash used in investing activities | (988,349) | (754,474) | |
Net cash provided by financing activities | 24,053 | 20,194 | |
Increase (decrease) in cash and cash equivalents | (51,295) | 204,309 | |
Cash and cash equivalents at beginning of period | 681,895 | 477,586 | |
Cash and cash equivalents at end of period | 630,600 | 681,895 | 477,586 |
Parent Company [Member] | |||
Net income | 149,180 | 136,877 | 93,030 |
Other | 38 | (1,181) | (314) |
Equity in undistributed earnings of subsidiary | (115,110) | (116,634) | (88,788) |
Net cash provided by operating activities | 34,108 | 19,062 | 3,928 |
Investment in subsidiary | 0 | 0 | 0 |
Other | (1,000) | 275 | 0 |
Net cash used in investing activities | (1,000) | 275 | 0 |
Proceeds from issuance of subordinated notes | 0 | 0 | 29,943 |
Redemption of subordinated notes | 0 | 0 | (20,000) |
Dividends paid on common stock | (32,071) | (20,194) | (10,040) |
Net cash provided by financing activities | (32,071) | (20,194) | (97) |
Increase (decrease) in cash and cash equivalents | 1,037 | (857) | 3,831 |
Cash and cash equivalents at beginning of period | 9,034 | 9,891 | 6,060 |
Cash and cash equivalents at end of period | $ 10,071 | $ 9,034 | $ 9,891 |
Note 23 - Quarterly Financial_3
Note 23 - Quarterly Financial Data (Unaudited) - Quarterly Financial Data (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2019 | Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Interest income | $ 98,187 | $ 101,130 | $ 97,787 | $ 93,699 | $ 90,164 | $ 84,058 | $ 78,396 | $ 74,009 | $ 390,803 | $ 326,627 | $ 262,756 |
Interest expense | 22,410 | 28,125 | 27,702 | 24,921 | 21,306 | 17,195 | 13,874 | 11,573 | 103,158 | 63,948 | 35,333 |
Net interest income | 75,777 | 73,005 | 70,085 | 68,778 | 68,858 | 66,863 | 64,522 | 62,436 | 287,645 | 262,679 | 227,423 |
Provision for loan losses | 5,884 | 6,985 | 4,884 | 4,885 | 6,518 | 6,624 | 4,121 | 4,139 | 22,638 | 21,402 | 23,225 |
Net income available to common stockholders | $ 41,005 | $ 37,563 | $ 35,602 | $ 35,010 | $ 36,205 | $ 34,560 | $ 33,509 | $ 32,603 | $ 149,180 | $ 136,877 | $ 93,030 |
Net income per common share, basic (in dollars per share) | $ 0.77 | $ 0.70 | $ 0.67 | $ 0.65 | $ 0.68 | $ 0.65 | $ 0.63 | $ 0.61 | $ 2.79 | $ 2.57 | $ 1.76 |
Net income per common share, diluted (in dollars per share) | $ 0.76 | $ 0.69 | $ 0.66 | $ 0.65 | $ 0.67 | $ 0.64 | $ 0.62 | $ 0.60 | $ 2.76 | $ 2.53 | $ 1.72 |