Document and Entity Information
Document and Entity Information - shares | 6 Months Ended | |
Jun. 30, 2017 | Jul. 31, 2017 | |
Document Information [Line Items] | ||
Entity Registrant Name | Capital Bank Financial Corp. | |
Entity Central Index Key | 1,479,750 | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Large Accelerated Filer | |
Document Type | 10-Q | |
Document Period End Date | Jun. 30, 2017 | |
Document Fiscal Year Focus | 2,017 | |
Document Fiscal Period Focus | Q2 | |
Amendment Flag | false | |
Common Class A | ||
Document Information [Line Items] | ||
Entity Common Stock, Shares Outstanding | 35,468,366 | |
Common Class B | ||
Document Information [Line Items] | ||
Entity Common Stock, Shares Outstanding | 16,533,429 |
Consolidated Balance Sheets (Un
Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Assets | ||
Cash and due from banks | $ 106,164 | $ 107,707 |
Interest-bearing deposits in other banks | 49,247 | 201,348 |
Total cash and cash equivalents | 155,411 | 309,055 |
Trading securities | 4,290 | 3,791 |
Investment securities available-for-sale at fair value (amortized cost $1,152,613 and $927,266, respectively) | 1,145,712 | 912,250 |
Investment securities held-to-maturity at amortized cost (fair value $431,269 and $460,911, respectively) | 430,411 | 463,959 |
Loans held for sale | 3,533 | 12,874 |
Loans, net of deferred loan costs and fees | 7,566,581 | 7,393,318 |
Less: Allowance for loan and lease losses | 44,638 | 43,065 |
Loans, net | 7,521,943 | 7,350,253 |
Other real estate owned | 41,364 | 53,482 |
Premises and equipment held for sale | 18,494 | 2,599 |
Premises and equipment, net | 184,939 | 205,425 |
Goodwill | 234,158 | 235,500 |
Intangible assets, net | 29,750 | 33,370 |
Deferred income tax asset, net | 134,452 | 150,272 |
Bank owned life insurance | 100,672 | 99,702 |
Other assets | 88,572 | 98,125 |
Total Assets | 10,093,701 | 9,930,657 |
Deposits: | ||
Non-interest bearing demand | 1,662,416 | 1,590,164 |
Interest bearing demand | 1,884,674 | 1,930,143 |
Money market | 1,828,889 | 1,725,838 |
Savings | 480,590 | 497,171 |
Time deposits | 2,218,444 | 2,137,312 |
Total deposits | 8,075,013 | 7,880,628 |
Federal Home Loan Bank advances | 470,600 | 545,701 |
Short-term borrowings | 32,637 | 19,157 |
Long-term borrowings | 118,096 | 116,456 |
Accrued expenses and other liabilities | 65,271 | 76,668 |
Total liabilities | 8,761,617 | 8,638,610 |
Commitments and contingencies | ||
Shareholders’ equity | ||
Preferred stock $0.01 par value: 50,000 shares authorized, 0 shares issued | 0 | 0 |
Additional paid in capital | 1,371,224 | 1,368,459 |
Retained earnings | 279,914 | 247,758 |
Accumulated other comprehensive loss | (7,320) | (12,434) |
Treasury stock, at cost, 13,040 and 13,040 shares, respectively | (312,384) | (312,384) |
Total shareholders’ equity | 1,332,084 | 1,292,047 |
Total Liabilities and Shareholders’ Equity | 10,093,701 | 9,930,657 |
Common Class A | ||
Shareholders’ equity | ||
Common stock | 466 | 462 |
Common Class B | ||
Shareholders’ equity | ||
Common stock | $ 184 | $ 186 |
Consolidated Balance Sheets (U3
Consolidated Balance Sheets (Unaudited) (Parenthetical) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Amortized cost of investment securities available-for-sale | $ 1,152,613 | $ 927,266 |
Fair value of investment securities held-to-maturity | $ 431,269 | $ 460,911 |
Preferred stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Preferred stock, shares authorized (in shares) | 50,000,000 | 50,000,000 |
Preferred stock, shares issued (in shares) | 0 | 0 |
Treasury stock, shares (in shares) | 13,040,000 | 13,040,000 |
Common Class A | ||
Common stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Common stock, shares authorized (in shares) | 200,000,000 | 200,000,000 |
Common stock, shares issued (in shares) | 46,624,000 | 46,178,000 |
Common stock, shares outstanding (in shares) | 35,357,000 | 34,911,000 |
Common Class B | ||
Common stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Common stock, shares authorized (in shares) | 200,000,000 | 200,000,000 |
Common stock, shares issued (in shares) | 18,407,000 | 18,627,000 |
Common stock, shares outstanding (in shares) | 16,634,000 | 16,854,000 |
Consolidated Statements of Inco
Consolidated Statements of Income (Unaudited) - USD ($) shares in Thousands, $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
Interest and dividend income | ||||
Loans, including fees | $ 85,882 | $ 62,629 | $ 169,136 | $ 125,282 |
Investment securities: | ||||
Taxable interest income | 10,756 | 6,414 | 19,821 | 12,701 |
Tax-exempt interest income | 156 | 121 | 309 | 241 |
Dividends | 11 | 12 | 22 | 25 |
Interest-bearing deposits in other banks | 93 | 74 | 190 | 158 |
Other earning assets | 388 | 329 | 745 | 644 |
Total interest and dividend income | 97,286 | 69,579 | 190,223 | 139,051 |
Interest expense | ||||
Deposits | 8,228 | 6,003 | 15,881 | 12,065 |
Long-term borrowings | 2,383 | 1,547 | 4,664 | 3,058 |
Federal Home Loan Bank advances | 1,387 | 499 | 2,251 | 1,017 |
Other borrowings | 46 | 15 | 69 | 29 |
Total interest expense | 12,044 | 8,064 | 22,865 | 16,169 |
Net interest income | 85,242 | 61,515 | 167,358 | 122,882 |
Provision for loan and lease losses | 2,303 | 1,172 | 5,695 | 2,547 |
Net interest income after provision for loan and lease losses | 82,939 | 60,343 | 161,663 | 120,335 |
Non-interest income | ||||
Service charges on deposit accounts | 5,237 | 4,486 | 10,612 | 9,297 |
Debit card income | 5,051 | 3,235 | 9,816 | 6,321 |
Fees on mortgage loans originated and sold | 1,150 | 1,140 | 2,398 | 2,111 |
Investment advisory and trust fees | 596 | 455 | 1,237 | 952 |
Termination of loss share agreements | 0 | 0 | 0 | (9,178) |
Investment securities gains, net | 70 | 117 | 137 | 157 |
Other income | 3,896 | 2,489 | 7,652 | 4,828 |
Total non-interest income | 16,000 | 11,922 | 31,852 | 14,488 |
Non-interest expense | ||||
Salaries and employee benefits | 27,662 | 20,139 | 56,828 | 42,301 |
Stock-based compensation expense | 964 | 467 | 1,864 | 784 |
Net occupancy and equipment expense | 8,826 | 7,355 | 17,818 | 15,058 |
Computer services | 4,280 | 3,274 | 8,153 | 6,849 |
Software expense | 2,573 | 2,000 | 5,235 | 4,036 |
Telecommunication expense | 1,939 | 1,558 | 4,363 | 3,090 |
OREO valuation expense | 262 | 1,119 | 509 | 1,586 |
Net gains on sales of OREO | (204) | (413) | (512) | (1,092) |
Foreclosed asset related expense | 376 | 399 | 740 | 684 |
Loan workout expense | 281 | 71 | 482 | 315 |
Conversion and merger related expense, net | 981 | 1,236 | 4,018 | 2,923 |
Professional fees | 1,800 | 1,353 | 3,896 | 2,965 |
Legal settlement expense | 45 | 0 | 45 | 0 |
Regulatory assessments | 1,145 | 1,259 | 1,864 | 2,534 |
Restructuring charges, net | 2,978 | 5 | 4,890 | 147 |
Other expense | 7,077 | 4,714 | 13,495 | 9,294 |
Total non-interest expense | 60,985 | 44,536 | 123,688 | 91,474 |
Income before income taxes | 37,954 | 27,729 | 69,827 | 43,349 |
Income tax expense | 14,148 | 10,288 | 25,138 | 16,048 |
Net income | $ 23,806 | $ 17,441 | $ 44,689 | $ 27,301 |
Earnings per share: | ||||
Basic (in dollars per share) | $ 0.46 | $ 0.41 | $ 0.87 | $ 0.63 |
Diluted (in dollars per share) | $ 0.45 | $ 0.40 | $ 0.84 | $ 0.62 |
Weighted average shares outstanding: | ||||
Basic (in shares) | 51,683 | 43,011 | 51,659 | 43,036 |
Diluted (in shares) | 53,226 | 44,068 | 53,214 | 44,074 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
Statement of Comprehensive Income [Abstract] | ||||
Net Income | $ 23,806 | $ 17,441 | $ 44,689 | $ 27,301 |
Other comprehensive income before tax: | ||||
Unrealized holding gains on investment securities available-for-sale | 7,598 | 7,196 | 8,114 | 16,615 |
Reclassification adjustment for gains realized in net income on securities available-for-sale | 0 | (92) | 0 | (92) |
Reclassification adjustment for losses amortized in net income on securities transferred from available-for-sale to held-to-maturity | 287 | 352 | 602 | 689 |
Unrealized holding gains on cash flow hedges | 650 | 2,155 | 199 | 7,681 |
Reclassification adjustments for net gains included in net income on cash flow hedges | (298) | (634) | (730) | (1,278) |
Other comprehensive income before tax: | 8,237 | 8,977 | 8,185 | 23,615 |
Tax effect | (3,090) | (3,412) | (3,071) | (8,976) |
Other comprehensive income, net of tax: | 5,147 | 5,565 | 5,114 | 14,639 |
Comprehensive income | $ 28,953 | $ 23,006 | $ 49,803 | $ 41,940 |
Consolidated Statements of Chan
Consolidated Statements of Changes in Shareholders' Equity (Unaudited) - USD ($) shares in Thousands, $ in Thousands | Total | Common Class A | Common Class B | Common StockCommon Class A | Common StockCommon Class B | Additional Paid in Capital | Retained Earnings | Accumulated Other Comprehensive Income (Loss) | Treasury Stock |
Beginning balance (in shares) at Dec. 31, 2015 | 26,589 | 16,554 | |||||||
Beginning balance at Dec. 31, 2015 | $ 986,265 | $ 370 | $ 183 | $ 1,076,415 | $ 208,742 | $ (5,196) | $ (294,249) | ||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||||
Net Income | 27,301 | 27,301 | |||||||
Dividends paid | (8,614) | (8,614) | |||||||
Other comprehensive income, net of tax expense | 14,639 | 14,639 | |||||||
Stock-based compensation | 807 | 807 | |||||||
Restricted stock grants (in shares) | 197 | ||||||||
Restricted stock grants | 0 | $ 2 | (2) | ||||||
Nonqualified stock option exercise (in shares) | 27 | ||||||||
Nonqualified stock option exercise | 490 | 490 | |||||||
Purchase of treasury stock (in shares) | (148) | ||||||||
Purchase of treasury stock | (4,390) | (4,390) | |||||||
Ending balance (in shares) at Jun. 30, 2016 | 26,665 | 16,554 | |||||||
Ending balance at Jun. 30, 2016 | 1,016,498 | $ 372 | $ 183 | 1,077,710 | 227,429 | 9,443 | (298,639) | ||
Beginning balance (in shares) at Dec. 31, 2016 | 34,911 | 16,854 | 34,911 | 16,854 | |||||
Beginning balance at Dec. 31, 2016 | 1,292,047 | $ 462 | $ 186 | 1,368,459 | 247,758 | (12,434) | (312,384) | ||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||||
Net Income | 44,689 | 44,689 | |||||||
Dividends paid | (12,533) | (12,533) | |||||||
Other comprehensive income, net of tax expense | 5,114 | 5,114 | |||||||
Stock-based compensation | 1,927 | 1,927 | |||||||
Restricted stock grants (in shares) | 165 | ||||||||
Restricted stock grants | 0 | $ 2 | (2) | ||||||
Restricted stock cancelled (in shares) | (23) | ||||||||
Restricted stock cancelled | (881) | (881) | |||||||
Nonqualified stock option exercise (in shares) | 84 | ||||||||
Nonqualified stock option exercise | 1,721 | 1,721 | |||||||
Conversion of shares (in shares) | 220 | (220) | |||||||
Conversion of shares | 0 | $ 2 | $ (2) | ||||||
Ending balance (in shares) at Jun. 30, 2017 | 35,357 | 16,634 | 35,357 | 16,634 | |||||
Ending balance at Jun. 30, 2017 | $ 1,332,084 | $ 466 | $ 184 | $ 1,371,224 | $ 279,914 | $ (7,320) | $ (312,384) |
Consolidated Statements of Cha7
Consolidated Statements of Changes in Shareholders' Equity (Unaudited) (Parenthetical) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2017 | Jun. 30, 2016 | |
Dividends paid (in dollars per share) | $ 0.24 | $ 0.20 |
Accumulated Other Comprehensive Income (Loss) | ||
Other comprehensive income tax expense | $ 3,071 | $ 8,976 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2017 | Jun. 30, 2016 | |
Cash flows from operating activities | ||
Net Income | $ 44,689 | $ 27,301 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Accretion of purchased credit impaired loans | (37,399) | (40,766) |
Depreciation and amortization | 11,702 | 8,274 |
Impairment of premises and equipment | 2,190 | 0 |
Provision for loan and lease losses | 5,695 | 2,547 |
Deferred income tax | 13,960 | 4,063 |
Net amortization of investment securities premium/discount | 2,671 | 2,265 |
Net realized gains on investment securities | (137) | (157) |
Stock-based compensation expense | 1,927 | 807 |
Net gains on sales of OREO | (512) | (1,092) |
OREO valuation expense | 509 | 1,586 |
Other | (111) | (29) |
Net deferred loan origination fees | 490 | 2,855 |
Mortgage loans originated for sale | (65,212) | (65,573) |
Proceeds from sales of mortgage loans originated for sale | 76,953 | 71,807 |
Origination of mortgage servicing rights | (223) | 0 |
Fees on mortgage loans originated and sold | (2,398) | (2,111) |
Termination of loss share agreements | 0 | 9,178 |
Gains on sales/disposals of premises and equipment | (314) | (11) |
Net proceeds from FDIC loss share agreements | 0 | (186) |
Change in other assets | 7,535 | 5,355 |
Change in accrued expenses and other liabilities | (12,567) | 809 |
Net cash provided by operating activities | 49,448 | 26,922 |
Cash flows from investing activities | ||
Purchases of investment securities available-for-sale | (297,793) | (127,789) |
Purchases of investment securities held-to-maturity | 0 | (30,537) |
Proceeds from sale of investment securities available-for-sale | 0 | 90,646 |
Repayments of principal and maturities of investment securities available-for-sale | 70,338 | 37,696 |
Repayments of principal and maturities of investment securities held-to-maturity | 33,225 | 34,988 |
Net sales (purchases) of FHLB and FRB stock | 3,107 | (8,630) |
Net increase in loans | (158,166) | (83,280) |
Proceeds paid to FDIC for settlement of loss share agreements | 0 | (3,029) |
Proceeds from the sale of loans | 14,500 | 0 |
Purchases of premises and equipment | (7,263) | (4,456) |
Proceeds from sales of premises and equipment | 1,426 | 2,292 |
Proceeds from sales of OREO | 15,584 | 11,818 |
Net cash used in investing activities | (325,042) | (80,281) |
Cash flows from financing activities | ||
Net increase in demand, money market and savings accounts | 113,253 | 74,728 |
Net increase (decrease) in time deposits | 81,132 | (127,811) |
Net increase in short-term borrowings | 13,480 | 4,375 |
Proceeds from short-term FHLB advances | 1,137,000 | 530,000 |
Repayment of short-term FHLB advances | (1,262,000) | (580,000) |
Proceeds from long-term FHLB advances | 75,000 | 240,000 |
Repayment of long-term FHLB advances | (25,101) | (98) |
Proceeds from exercise of stock options | 1,721 | 490 |
Restricted stock cancelled | (2) | (2) |
Dividends paid | (12,533) | (8,614) |
Purchases of treasury stock | 0 | (4,390) |
Net cash provided by financing activities | 121,950 | 128,678 |
Net (decrease) increase in cash and cash equivalents | (153,644) | 75,319 |
Cash and cash equivalents at beginning of period | 309,055 | 144,696 |
Cash and cash equivalents at end of period | 155,411 | 220,015 |
Supplemental disclosures of cash: | ||
Interest paid | 21,744 | 14,465 |
Cash collections of contractual interest on purchased credit impaired loans | 20,960 | 23,133 |
Income taxes paid | 3,497 | 3,363 |
Supplemental disclosures of non-cash transactions: | ||
OREO acquired through loan transfers | 3,463 | 2,182 |
Transfers of other assets to OREO | 0 | 1,590 |
Fixed Assets transfered to held for sale | $ 18,084 | $ 0 |
Basis of Presentation
Basis of Presentation | 6 Months Ended |
Jun. 30, 2017 | |
Accounting Policies [Abstract] | |
Basis of Presentation | Basis of Presentation Nature of Operations and Principles of Consolidation Capital Bank Financial Corp. (“CBF” or the “Company”; formerly known as North American Financial Holdings, Inc.) is a bank holding company incorporated in late 2009 in Delaware and headquartered in North Carolina whose business is conducted primarily through Capital Bank Corporation (“Capital Bank Corporation” or the “Bank”). The Company was incorporated with the goal of creating a regional banking franchise in the southeastern region of the United States through organic growth and acquisitions of other banks, including failed, underperforming and undercapitalized banks. CBF has raised $955.6 million to make acquisitions through a series of private placements and an initial public offering of its common stock. Since inception, CBF has acquired eight depository institutions, including the assets and certain deposits from failed banks. CBF has a total of 189 full service banking offices located in Florida, North and South Carolina, Tennessee and Virginia. During the six months ended June 30, 2017 , the Company closed and consolidated seven branches in conjunction with the merger of CommunityOne. The Company expects to close and consolidate an additional eleven branches during 2017. As such, the Company transferred $18.1 million from fixed assets to bank properties held for sale during the six months ended June 30, 2017 . The accompanying unaudited Consolidated Financial Statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) for interim financial information and Regulation S-X. Accordingly, they do not include all of the information and disclosures required by U.S. GAAP for complete financial statement presentation. In the opinion of management, all adjustments consisting of normal recurring accruals and disclosures considered necessary for a fair interim presentation have been included. All significant inter-company accounts and transactions have been eliminated in consolidation. For further information, refer to the Company’s Consolidated Financial Statements and notes thereto included in the Company’s annual report on Form 10-K for the fiscal year ended December 31, 2016. Proposed merger with First Horizon National Corporation On May 4, 2017, Capital Bank Financial Corp. issued a press release announcing the execution of an agreement and plan of merger with First Horizon National Corporation (the “First Horizon”) dated May 3, 2017, with First Horizon as the surviving corporation. Subject to terms and conditions of the Merger Agreement, each holder of Capital Bank common stock will be entitled to receive cash or stock with a value equivalent to 1.750 First Horizon shares and $7.90 in cash for each Capital Bank share held, subject to the election allocation and proration provisions of the merger agreement. The transaction is subject to shareholder and regulatory approvals in addition to satisfying certain other closing conditions. Use of Estimates and Assumptions To prepare financial statements in conformity with U.S. GAAP, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as presented in the financial statements. These estimates and assumptions affect the amounts reported in the financial statements and the disclosures provided, and actual results could differ. Recent Accounting Pronouncements In March 2017, the Financial Accounting Standard Board (the “FASB”) issued Accounting Standards Update ("ASU") 2017-09, "Compensation—Stock Compensation (Topic 718)". The amendments in this update provide guidance about which changes to the terms or conditions of a share-based payment award require an entity to apply modification accounting in Topic 718. An entity should account for the effects of a modification unless all the following are met: (1) the fair value (or calculated value or intrinsic value, if such an alternative measurement method is used) of the modified award is the same as the fair value (or calculated value or intrinsic value, if such an alternative measurement method is used) of the original award immediately before the original award is modified. If the modification does not affect any of the inputs to the valuation technique that the entity uses to value the award, the entity is not required to estimate the value immediately before and after the modification, (2) the vesting conditions of the modified award are the same as the vesting conditions of the original award immediately before the original award is modified, (3) the classification of the modified award as an equity instrument or a liability instrument is the same as the classification of the original award immediately before the original award is modified. The amendments in this update are effective for public business entities for fiscal years beginning after December 15, 2017. The Company is currently evaluating this ASU to determine the impact on its consolidated financial position, results of operations and cash flows. In March 2017, the FASB issued ASU 2017-08, "Receivables - Nonrefundable Fees and Other Costs (Subtopic 310-20) Premium Amortization on Purchased Callable Debt Securities". The amendments in this update affect all entities that have an amortized cost basis in excess of the amount that is repayable by the issuer at the earliest call date. The objective is to shorten the amortization period for certain callable debt securities held at a premium. Specifically, the amendments require the premium to be amortized to the earliest call date. Securities held at a discount continue to be amortized to maturity. The amendments in this update are effective for public business entities for fiscal years beginning after December 15, 2018. The Company is currently evaluating this ASU to determine the impact on its consolidated financial position, results of operations and cash flows. In March 2017, the FASB issued ASU 2017-07, "Compensation - Retirement Benefits (Topic 715)". The amendments in this update require that an employer report the service cost component in the same line item or items as other compensation costs arising from services rendered by the pertinent employees during the period. The other components of net benefit cost as defined in paragraphs 715-30-35-4 and 715-60-35-9 are required to be presented in the income statement separately from the service cost component and outside a subtotal of income from operations, if one is presented. If a separate line item or items are used to present the other components of net benefit cost, that line item or items must be appropriately described. If a separate line item or items are not used, the line item or items used in the income statement to present the other components of net benefit cost must be disclosed. The amendments in this update also allow only the service cost component to be eligible for capitalization when applicable (for example, as a cost of internally manufactured inventory or a self-constructed asset). The amendments in this update are effective for public business entities for fiscal years beginning after December 15, 2017. The Company is currently evaluating this ASU to determine the impact on its consolidated financial position, results of operations and cash flows. In January 2017, the FASB issued ASU 2017-04, "Intangibles - Goodwill and Other (Topic 350)". The amendments in this update aim to simplify the subsequent measurement of goodwill. Under these amendments, an entity should perform its annual, or interim, goodwill impairment test by comparing the fair value of a reporting unit with its carrying amount. An entity should recognize an impairment charge for the amount by which the carrying amount exceeds the reporting unit’s fair value; however, the loss recognized should not exceed the total amount of goodwill allocated to that reporting unit. Additionally, an entity should consider income tax effects from any tax deductible goodwill on the carrying amount of the reporting unit when measuring the goodwill impairment loss, if applicable. The FASB also eliminated the requirements for any reporting unit with a zero or negative carrying amount to perform a qualitative assessment. An entity is required to disclose the amount of goodwill allocated to each reporting unit with a zero or negative carrying amount of net assets and still has the option to perform the qualitative assessment for a reporting unit to determine if the quantitative impairment test is necessary. The amendments in this update are effective for public business entities for fiscal years beginning after December 15, 2019. The Company is currently evaluating this ASU to determine the impact on its consolidated financial position, results of operations and cash flows. In January 2017, the FASB issued ASU 2017-01, "Business Combinations (Topic 805)". The amendments in this update provide a screen to determine when a set is not a business. The screen requires that when substantially all of the fair value of the gross assets acquired (or disposed of) is concentrated in a single identifiable asset or a group of similar identifiable assets, the set is not a business. This screen reduces the number of transactions that need to be further evaluated. The amendments in this update are effective for public business entities for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. The amendments in this update should be applied prospectively on or after the effective date. The Company is currently evaluating this ASU to determine the impact on its consolidated financial position, results of operations and cash flows. In May 2016, the FASB issued ASU 2016-12, "Revenue from Contracts with Customers (Topic 606): Narrow-Scope Improvements and Practical Expedients". The amendments in this Update represent minor corrections or improvements to narrow aspects of Topic 606, as amended by ASU No. 2014-09, and do not change the core principle of the guidance in Topic 606. The effective date and transition requirements for the amendments in this Update are the same as the effective date and transition requirements for Topic 606 (and any other Topic amended by Update 2014-09), which is not yet effective. The Company is currently evaluating this ASU to determine the impact on its consolidated financial position, results of operations and cash flows. In August 2016, the FASB issued ASU 2016-15, "Statement of Cash Flows—Credit Losses (Topic 230)". The amendments in this update provide guidance on the following eight specific cash flow issues: (1) Debt prepayment or debt extinguishment costs; (2) Settlement of zero-coupon debt instruments or other debt instruments with coupon interest rates that are insignificant in relation to the effective interest rate of the borrowing; (3) Contingent consideration payments made after a business combination; (4) Proceeds from the settlement of insurance claims; (5) Proceeds from the settlement of corporate-owned life insurance policies, including bank-owned life insurance policies; (6) Distributions received from equity method investees; (7) Beneficial interests in securitization transactions; (8) Separately identifiable cash flows and application of the predominance principle. The amendments in this update are effective for public business entities for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years. Early adoption is permitted, including adoption in an interim period. The Company is currently evaluating this ASU to determine the impact on its consolidated financial position, results of operations and cash flows. In June 2016, the FASB issued ASU 2016-13, "Financial Instruments—Credit Losses (Topic 326)". The main objective of this update is to provide financial statement users with more decision-useful information about the expected credit losses on financial instruments and other commitments to extend credit held by a reporting entity at each reporting date. The amendments in this update replace the incurred loss impairment methodology in current GAAP with a methodology that reflects expected credit losses and requires consideration of a broader range of reasonable and supportable information to inform credit loss estimates and affects loans, debt securities, trade receivables, net investments in leases, off-balance-sheet credit exposures, reinsurance receivables, and any other financial assets not excluded from the scope that have the contractual right to receive cash. For public business entities that are U.S. Securities and Exchange Commission (SEC) filers, the amendments in this update are effective for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. The Company is currently evaluating this ASU to determine the impact on its consolidated financial position, results of operations and cash flows. In March 2016, the FASB issued ASU 2016-9, "Compensation—Stock compensation (Topic 718)". Improvements to employee share-based payment accounting" which objective is the simplification through the identification, evaluation, and improvement of areas of generally accepted accounting principles (GAAP) for which cost and complexity can be reduced while maintaining or improving the usefulness of the information provided to users of financial statements. The areas for simplification involve several aspects of the accounting for share-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities, and classification on the statement of cash flows. Some of the areas for simplification apply only to nonpublic entities. We early adopted ASU 2016-09 during the fourth quarter of 2016 and prior periods were modified retrospectively. The adoption did not have a material impact on the Company's consolidated financial statements. The impact resulted in, among other items, a $0.1 million increase to net income and a $0.01 increase to earnings per share for the six months ended June 30, 2016 . The Company reflected these adjustments in our disclosures including the consolidated financial statements, earnings per common share, business combination and acquisitions, stock-based compensation, and income taxes. In March 2016, the FASB issued ASU No. 2016-08, “Revenue from Contracts with Customers (Topic 606): Principal versus Agent Considerations (Reporting Revenue Gross versus Net)”. The amendments in this update will clarify the implementation guidance on principal versus agent considerations. Topic 606 requires an entity to determine whether the nature of its promise is to provide that good or service to the customer (that is, the entity is a principal) or to arrange for the good or service to be provided to the customer by the other party (that is, the entity is an agent). This determination is based upon whether the entity controls the good or the service before it is transferred to the customer. Topic 606 includes indicators to assist in this evaluation. The effective date and transition requirements for the amendments in this update are the same as the effective date and transition requirements for Topic 606 (and any other Topic amended by update 2014-09 listed below), which is not yet effective. The Company is currently evaluating this ASU to determine the impact on its consolidated financial position, results of operations and cash flows. In March 2016, the FASB issued ASU 2016-7, "Investments—Equity Method and Joint Ventures (Topic 323)". The amendments in this update eliminate the requirement that when an investment qualifies for use of the equity method as a result of an increase in the level of ownership interest or degree of influence, an investor must adjust the investment, results of operations, and retained earnings retroactively on a step-by-step basis as if the equity method had been in effect during all previous periods that the investment had been held. The amendments require that the equity method investor add the cost of acquiring the additional interest in the investee to the current basis of the investor’s previously held interest and adopt the equity method of accounting as of the date the investment becomes qualified for equity method accounting. Therefore, upon qualifying for the equity method of accounting, no retroactive adjustment of the investment is required. The amendments in this update require that an entity that has an available-for-sale equity security that becomes qualified for the equity method of accounting recognize through earnings the unrealized holding gain or loss in accumulated other comprehensive income at the date the investment becomes qualified for use of the equity method. The amendments in this update are effective for all entities for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2016. The amendments should be applied prospectively upon their effective date to increases in the level of ownership interest or degree of influence that result in the adoption of the equity method. Earlier application is permitted. The adoption did not have a material impact on the Company's consolidated financial statements. In March 2016, the FASB issued ASU 2016-6, "Derivatives and Hedging (Topic 815): Contingent Put and Call Options in Debt Instruments". The amendments in this update clarify the requirements for assessing whether contingent call (put) options that can accelerate the payment of principal on debt instruments are clearly and closely related to their debt hosts. An entity performing the assessment under the amendments in this update is required to assess the embedded call (put) options solely in accordance with the four-step decision sequence. For public business entities, the amendments in this update are effective for financial statements issued for fiscal years beginning after December 15, 2016, and interim periods within those fiscal years. The adoption did not have a material impact on the Company's consolidated financial statements. In January 2016, the FASB issued ASU 2016-2, "Leases (Topic 842)" which increases transparency and comparability among organizations by recognizing lease assets and lease liabilities on the balance sheet and disclosing key information about leasing arrangements. To meet that objective, the FASB is amending the FASB Accounting Standards Codification and creating Topic 842, Leases. This update, along with IFRS 16, Leases, are the results of the FASB’s and the International Accounting Standards Board’s (IASB’s) efforts to meet that objective and improve financial reporting. The FASB and IASB decided to not fundamentally change lessor accounting with the amendments in this update. However, some changes have been made to lessor accounting to conform and align that guidance with the lessee guidance and other areas within generally accepted accounting principles (GAAP), such as Topic 606, Revenue from Contracts with Customers. The main difference between previous GAAP and Topic 842 is the recognition of lease assets and lease liabilities by lessees for those leases classified as operating leases under previous GAAP. For public business entities, the amendments in ASU 2016-2 are effective for fiscal years beginning after December 15, 2018. The Company is currently evaluating this ASU to determine the impact on its consolidated financial position, results of operations and cash flows. In January 2016, the FASB issued ASU 2016-1, "Financial instruments—Overall (Subtopic 825-10)" which requires all equity investments to be measured at fair value with changes in the fair value recognized through net income (other than those accounted for under equity method of accounting or those that result in consolidation of the investee). The amendments in this update also require an entity to present separately in other comprehensive income the portion of the total change in the fair value of a liability resulting from a change in the instrument-specific credit risk when the entity has elected to measure the liability at fair value in accordance with the fair value option for financial instruments. In addition, the amendments in this update eliminate the requirement to disclose the fair value of financial instruments measured at amortized cost for entities that are not public business entities and the requirement to disclose the method(s) and significant assumptions used to estimate the fair value that is required to be disclosed for financial instruments measured at amortized cost on the balance sheet for public business entities. For public business entities, the amendments in ASU 2016-1 are effective for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. The adoption of ASU 2016-1 is not expected to have a material impact on the Company's consolidated financial position, results of operations and cash flows. In May 2014, the FASB issued ASU 2014-9, "Revenue from Contracts with Customers (Topic 606)". The core principle of Topic 606 is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. To achieve that core principle, an entity should (1) identify the contract(s) with a customer, (2) identify the performance obligations in the contract, (3) determine the transaction price, (4) allocate the transaction price to the performance obligations in the contract, and (5) recognize revenue when (or as) the entity satisfies the performance obligation. In August 2015, the FASB issued ASU 2015-14, "Revenue from contracts with customers (Topic 606) - Deferral of the Effective Date". The amendments in ASU 2015-14 establish December 15, 2017 as the effective date of the information related to ASU 2014-09, “Revenue from Contracts with Customers (Topic 606)”. While we anticipate some changes, the Company does not expect a material change from our current accounting for revenue as the majority of our interest and non-interest income is not in scope of Topic 606. |
Earnings Per Common Share
Earnings Per Common Share | 6 Months Ended |
Jun. 30, 2017 | |
Earnings Per Share [Abstract] | |
Earnings Per Common Share | Earnings Per Common Share Basic earnings per share is computed as net income attributable to common shareholders divided by the weighted average number of common shares outstanding during the period. Diluted earnings per share include the dilutive effect of additional potential common shares issuable under stock options and unvested restricted shares computed using the treasury stock method. Earnings per share have been computed based on the following: (Shares in thousands) Three Months Ended Six Months Ended June 30, 2017 June 30, 2016 June 30, 2017 June 30, 2016 Weighted average number of shares outstanding: Basic 51,683 43,011 51,659 43,036 Dilutive effect of options outstanding 1,478 1,041 1,501 1,030 Dilutive effect of unvested restricted shares 65 16 54 8 Diluted 53,226 44,068 53,214 44,074 The dilutive effect of stock options and unvested restricted shares are the only common stock equivalents for purposes of calculating diluted earnings per common share. Weighted average anti-dilutive stock options and unvested restricted shares excluded from the computation of diluted earnings per share are as follows: (Shares in thousands) Three Months Ended Six Months Ended June 30, 2017 June 30, 2016 June 30, 2017 June 30, 2016 Anti-dilutive stock options — 38 3 38 Anti-dilutive unvested restricted shares — 3 14 2 |
Business Combinations and Acqui
Business Combinations and Acquisitions | 6 Months Ended |
Jun. 30, 2017 | |
Business Combinations [Abstract] | |
Business Combinations and Acquisitions | Business Combinations and Acquisitions Acquisition of CommunityOne Bancorp On October 26, 2016, the Company completed its acquisition of CommunityOne Bancorp (“CommunityOne”) whereby CommunityOne merged with and into the Company. CommunityOne was a North Carolina-based bank with $2.4 billion in assets and 45 full service banking branches as of October 26, 2016. The combination will strengthen Capital Bank’s franchise in North Carolina, particularly in Charlotte, as well as in Greensboro/Winston Salem and the Catawba/Caldwell county area . The Company acquired 100% of the outstanding common stock of CommunityOne. The total purchase price for CommunityOne was $340.5 million , consisting of $51.9 million of cash, and the issuance of 8.9 million shares of Capital Bank Common Stock valued at $288.6 million based on the Company's stock on October 25, 2016. The acquisition was accounted for under the acquisition method of accounting in accordance with ASC Topic 805, Business Combinations. Accordingly, the Company recognizes amounts for identifiable assets acquired and liabilities assumed at their estimated acquisition date fair value, with any excess of purchase consideration over the net assets being reported as goodwill. As the fair value of consideration paid exceeded the estimated fair value of net assets acquired, nondeductible goodwill of $103.4 million was recorded. Fair value estimates are based on the information available, and are subject to change for up to one year after the closing date of the acquisition as additional information relative to the closing date fair values becomes available. During the three months ended June 30, 2017 , there were no changes to the acquisition date balance sheet. During the six months ended June 30, 2017 , the Company adjusted the acquisition date balance sheet to reflect (1) a $0.4 million increase due to a recovery on a fully charged off loan; (2) a $1.0 million increase in the deferred tax asset; and (3) a $1.3 million decrease in Goodwill caused by the net effect of these adjustments. These adjustments are reflected in the table below. Management continues to review initial estimates on certain areas such as loan valuations, core deposit intangibles and the deferred tax asset. The following table summarizes the Company's investment and CommunityOne's opening balance sheet as of October 26, 2016 adjusted to their preliminary fair value: (Dollars in thousands) Fair value of assets acquired: October 26, 2016 Cash and cash equivalents $ 58,308 Investment securities 488,814 Loans 1,497,785 Premises and equipment 46,763 Goodwill 103,443 Other intangible assets 22,518 Deferred tax asset 60,695 Other assets 82,716 Total assets acquired 2,361,042 Fair value of liabilities assumed: Deposits 1,892,443 Long term debt and other borrowings 105,720 Other liabilities 22,345 Total liabilities assumed 2,020,508 Net assets acquired $ 340,534 The following table summarizes the fair value of loans, the total contractual principal and interest payments, and management's estimate of expected total cash payments of purchase credit impaired loans: (Dollars in thousands) Fair Value of Acquired Loans Gross Contractual Amounts Receivable Best Estimate of Contractual Cash Flows not to be Collected Loans acquired subject to ASC 310-30 $ 129,075 $ 182,927 $ 34,219 In addition, the Bank acquired loans of $1.4 billion not determined to be purchase credit impaired at the time of acquisition. These loans have an estimated cash flow of $1.6 billion and management expects to collect contractual required payments from the borrower with similar characteristics as other non-impaired loans. In the assumption of deposit liabilities, the Company estimated the fair value of the core deposits intangible asset to be $19.9 million , which will be amortized utilizing an accelerated amortization method over an estimated economic life of 10 years . Fair value estimates are based on factors such as type of deposit, retention rates, interest rates and customer relationships. Pro-forma financial information Pro-forma data for the six months ended and June 30, 2016 listed in the table below presents pro-forma information as if the CommunityOne acquisition occurred at the beginning of 2016. The results include $3.9 million of transaction and integration expense incurred during the six months ended June 30, 2016 . The pro-forma financial information is not necessarily indicative of the results of operations that would have occurred had the transactions been effected on the assumed dates. (Dollars and shares in thousands, except per share data) For the six months ended June 30, 2016 Net interest income $ 156,905 Net income $ 33,958 Basic earnings per share $ 0.65 Diluted earnings per share $ 0.64 |
Investment Securities
Investment Securities | 6 Months Ended |
Jun. 30, 2017 | |
Investments, Debt and Equity Securities [Abstract] | |
Investment Securities | Investment Securities Trading securities totaled $ 4.3 million and $3.8 million at June 30, 2017 and December 31, 2016 , respectively. The amortized cost and estimated fair value of investment securities available-for-sale and held-to-maturity at June 30, 2017 and December 31, 2016 , are presented below: (Dollars in thousands) June 30, 2017 Amortized Unrealized Unrealized Estimated Available-for-Sale Corporate bonds $ 59,947 $ 3,674 $ — $ 63,621 State and political subdivisions—tax exempt 11,864 — 487 11,377 Mortgage-backed securities—residential issued by government sponsored entities 1,077,733 2,456 12,612 1,067,577 Industrial revenue bonds 3,069 68 — 3,137 Total $ 1,152,613 $ 6,198 $ 13,099 $ 1,145,712 Held-to-Maturity U.S. Government agencies $ 10,292 $ 114 $ — $ 10,406 Corporate bonds 94,006 780 739 94,047 State and political subdivisions—tax exempt 8,190 657 — 8,847 State and political subdivisions—taxable 516 12 — 528 Mortgage-backed securities—residential issued by government sponsored entities 317,407 1,635 1,601 317,441 Total $ 430,411 $ 3,198 $ 2,340 $ 431,269 (Dollars in thousands) December 31, 2016 Amortized Cost Unrealized Gains Unrealized Losses Estimated Fair Value Available-for-Sale Corporate bonds $ 28,354 $ 786 $ 187 $ 28,953 State and political subdivisions—tax exempt 11,871 — 794 11,077 Mortgage-backed securities—residential issued by government sponsored entities 883,802 1,644 16,524 868,922 Industrial revenue bonds 3,239 59 — 3,298 Total $ 927,266 $ 2,489 $ 17,505 $ 912,250 Held-to-Maturity U.S. Government agencies $ 11,234 $ 77 $ — $ 11,311 Corporate bonds 94,010 279 2,301 91,988 State and political subdivisions—tax exempt 8,069 389 — 8,458 State and political subdivisions—taxable 520 13 — 533 Mortgage-backed securities—residential issued by government sponsored entities 350,126 1,081 2,586 348,621 Total $ 463,959 $ 1,839 $ 4,887 $ 460,911 There were no sales of securities during the three and six months ended June 30, 2017 . Proceeds from sales of securities were $90.6 million for the three and six months ended June 30, 2016. Gross gains of $0.1 million were realized on sales of these investments during the three and six months ended June 30, 2016, respectively. The estimated fair value of investment securities at June 30, 2017 , by contractual maturity, is shown in the table that follows. Expected maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations without call or prepayment penalties. Debt securities not due at a single maturity date are shown separately. (Dollars in thousands) June 30, 2017 Amortized Estimated Yield Available-for-Sale Due in one year or less $ — $ — — % Due after one year through five years — — — % Due after five years through ten years 46,751 49,340 3.28 % Due after ten years 28,129 28,795 2.71 % Mortgage-backed securities—residential issued by government sponsored entities 1,077,733 1,067,577 2.28 % Total $ 1,152,613 $ 1,145,712 2.33 % Amortized Estimated Yield Held-to-Maturity Due in one year or less $ 696 $ 698 1.72 % Due after one year through five years 59,776 59,736 4.90 % Due after five years through ten years 42,240 42,987 5.03 % Due after ten years 10,292 10,407 2.81 % Mortgage-backed securities—residential issued by government sponsored entities 317,407 317,441 2.38 % Total $ 430,411 $ 431,269 3.00 % Securities with unrealized losses not recognized in income, and the period of time they have been in an unrealized loss position, are as follows: (Dollars in thousands) Less than 12 Months 12 Months or Longer Total June 30, 2017 Estimated Unrealized Estimated Unrealized Estimated Unrealized Available-for-Sale State and political subdivisions—tax exempt $ 11,377 $ 487 $ — $ — $ 11,377 $ 487 Mortgage-backed securities—residential issued by government sponsored entities 695,840 12,051 19,230 561 715,070 12,612 Total $ 707,217 $ 12,538 $ 19,230 $ 561 $ 726,447 $ 13,099 Held-to-Maturity U.S. government agencies $ 10,406 $ 309 $ — $ — $ 10,406 $ 309 Corporate bonds 14,931 68 29,363 671 44,294 739 Mortgage-backed securities—residential issued by government sponsored entities 234,408 4,509 7,616 284 242,024 4,793 Total $ 259,745 $ 4,886 $ 36,979 $ 955 $ 296,724 $ 5,841 (Dollars in thousands) Less than 12 Months 12 Months or Longer Total December 31, 2016 Estimated Fair Value Unrealized Losses Estimated Fair Value Unrealized Losses Estimated Fair Value Unrealized Losses Available-for-Sale Corporate bonds $ — $ — $ 8,412 $ 187 $ 8,412 $ 187 State and political subdivisions - tax exempt 11,077 794 — — 11,077 794 Mortgage-backed securities—residential issued by government sponsored entities 672,672 16,524 — — 672,672 16,524 Total $ 683,749 $ 17,318 $ 8,412 $ 187 $ 692,161 $ 17,505 Held-to-Maturity U.S Government agencies $ 11,311 $ 402 $ — $ — $ 11,311 $ 402 Corporate bonds 24,629 371 28,112 1,930 52,741 2,301 Mortgage-backed securities—residential issued by government sponsored entities 276,555 6,614 8,494 332 285,049 6,946 Total $ 312,495 $ 7,387 $ 36,606 $ 2,262 $ 349,101 $ 9,649 As of June 30, 2017 , the Company’s security portfolio consisted of 175 securities, 75 of which were in an unrealized loss position. The majority of unrealized losses are related to the Company’s mortgage-backed securities. The corporate bonds in an unrealized loss position at June 30, 2017 and December 31, 2016 continue to perform and are expected to perform through maturity. Unrealized losses associated with these securities are primarily due to changes in interest rates and market volatility, and the corporate issuers have not experienced significant adverse events that would call into question their ability to repay those debt obligations according to contractual terms. Further, because the Company does not have the intent to sell these corporate bonds and it is more likely than not that it will not be required to sell the securities before their anticipated recovery of their amortized cost bases, the Company does not consider these securities to be other-than-temporarily impaired as of June 30, 2017 or December 31, 2016 . All of the mortgage-backed securities at June 30, 2017 and December 31, 2016 were issued by U.S. government-sponsored entities and agencies, which the government has affirmed its commitment to support. Unrealized losses associated with these securities are attributable to changes in interest rates and illiquidity, and not credit quality, and because the Company does not have the intent to sell these mortgage-backed securities and it is more likely than not that it will not be required to sell the securities before their anticipated recovery, the Company does not consider these securities to be other-than-temporarily impaired at June 30, 2017 or December 31, 2016 . Investment securities having carrying values of approximately $650.8 million and $621.8 million at June 30, 2017 and December 31, 2016 , respectively, were pledged to secure public funds on deposit, securities sold under agreements to repurchase, and for other purposes as required by law. |
Loans
Loans | 6 Months Ended |
Jun. 30, 2017 | |
Receivables [Abstract] | |
Loans | Loans Major classifications of loans, including loans held for sale, are as follows: (Dollars in thousands) June 30, 2017 December 31, 2016 Non-owner occupied commercial real estate $ 1,265,576 $ 1,130,883 Other commercial construction and land 384,581 327,622 Multifamily commercial real estate 147,365 117,515 1-4 family residential construction and land 153,761 140,030 Total commercial real estate 1,951,283 1,716,050 Owner occupied commercial real estate 1,287,811 1,321,405 Commercial and industrial 1,424,862 1,468,874 Total commercial 2,712,673 2,790,279 1-4 family residential 1,782,799 1,714,702 Home equity loans 489,497 507,759 Other consumer loans 395,807 448,972 Total consumer 2,668,103 2,671,433 Other 238,055 228,430 Total loans $ 7,570,114 $ 7,406,192 Total loans include $3.5 million and $12.9 million of loans held for sale and $15.0 million and $15.5 million of net deferred loan origination costs and fees as of June 30, 2017 and December 31, 2016 , respectively. As of June 30, 2017 , other loans include $42.9 million , $155.3 million and $1.3 million of farm land, state and political subdivision obligations and deposit customer overdrafts, respectively. As of December 31, 2016 , other loans include $41.9 million , $149.0 million and $1.6 million of farm land, state and political subdivision obligations and deposit customer overdrafts, respectively. The Company designates purchased credit impaired loans as "PCI" by evaluating both qualitative and quantitative factors. At the time of acquisition, the Company accounted for the PCI loans by segregating each portfolio into loan pools with similar risk characteristics. Over the lives of the acquired PCI loans, the Company continues to estimate cash flows expected to be collected on each loan pool. The Company evaluates, at each balance sheet date, whether its estimates of the present value of the cash flows from the loan pools, determined using the effective interest rates, has decreased, such that the present value of such cash flows is less than the recorded investment of the pool, and if so, recognizes a provision for loan loss in its Consolidated Statements of Income, unless related to non-credit events. Additionally, if the Company has favorable changes in estimates of cash flows expected to be collected for a loan pool such that the then-present value exceeds the recorded investment of that pool, the Company will first reverse any previously established allowance for loan and lease losses for the pool. If such estimate exceeds the amount of any previously established allowance, the Company will accrete future interest income over the remaining life of the pool at a rate which, when used to discount the expected cash flows, results in the then-present value of such cash flows equaling the recorded investment of the pool at the time of the revised estimate. The table below presents a roll forward of accretable yield and income expected to be earned related to PCI loans. The accretable yield represents the excess of estimated cash flows expected to be collected over the carrying amount of the PCI loans. Nonaccretable difference represents estimated contractually required payments in excess of estimated cash flows expected to be collected. Other represents reductions of accretable yield due to non-credit events such as prepayment activity on PCI loans. (Dollars in thousands) Three Months Ended Six Months Ended June 30, 2017 June 30, 2016 June 30, 2017 June 30, 2016 Accretable Yield Balance at beginning of period $ 152,654 $ 195,065 $ 161,639 $ 208,844 Accretion of income (18,616 ) (19,923 ) (37,399 ) (40,766 ) Reclassification from nonaccretable difference 15,941 6,686 32,298 21,623 Other (4,560 ) (10,893 ) (11,119 ) (18,766 ) Balance at end of period $ 145,419 $ 170,935 $ 145,419 $ 170,935 The accretable yield is accreted into interest income over the estimated life of the PCI loans using the level yield method. The accretable yield will change due to changes in: • The estimate of the remaining life of PCI loans which may change the amount of future interest income, and possibly principal, expected to be collected; • The estimate of the amount of contractually required principal and interest payments over the estimated life that will not be collected (the nonaccretable difference); and • Indices for PCI loans with variable rates of interest. For PCI loans, the impact of loan modifications is included in the evaluation of expected cash flows for subsequent decreases or increases of cash flows. For variable rate PCI loans, expected future cash flows will be recalculated as the rates adjust over the lives of the loans. At acquisition, the expected future cash flows were based on the variable rates that were in effect at that time. The following is a summary of the major categories of loans outstanding as of June 30, 2017 and December 31, 2016 : (Dollars in thousands) Non-PCI Loans June 30, 2017 New Acquired PCI Loans Total Non-owner occupied commercial real estate $ 837,572 $ 211,400 $ 216,604 $ 1,265,576 Other commercial construction and land 252,458 76,439 55,684 384,581 Multifamily commercial real estate 115,308 15,749 16,308 147,365 1-4 family residential construction and land 136,776 16,555 430 153,761 Total commercial real estate 1,342,114 320,143 289,026 1,951,283 Owner occupied commercial real estate 907,374 222,145 158,292 1,287,811 Commercial and industrial loans 1,274,742 76,769 73,351 1,424,862 Total commercial 2,182,116 298,914 231,643 2,712,673 1-4 family residential 1,108,685 484,161 189,953 1,782,799 Home equity loans 181,931 247,238 60,328 489,497 Other consumer loans 297,963 72,688 25,156 395,807 Total consumer 1,588,579 804,087 275,437 2,668,103 Other 203,175 7,387 27,493 238,055 Total loans $ 5,315,984 $ 1,430,531 $ 823,599 $ 7,570,114 (Dollars in thousands) Non-PCI Loans December 31, 2016 New Acquired PCI Loans Total Loans Non-owner occupied commercial real estate $ 680,044 $ 221,304 $ 229,535 $ 1,130,883 Other commercial construction and land 182,486 73,248 71,888 327,622 Multifamily commercial real estate 77,694 19,108 20,713 117,515 1-4 family residential construction and land 105,816 33,831 383 140,030 Total commercial real estate 1,046,040 347,491 322,519 1,716,050 Owner occupied commercial real estate 901,957 239,982 179,466 1,321,405 Commercial and industrial loans 1,283,012 96,494 89,368 1,468,874 Total commercial 2,184,969 336,476 268,834 2,790,279 1-4 family residential 994,323 505,420 214,959 1,714,702 Home equity loans 172,883 268,093 66,783 507,759 Other consumer loans 330,423 88,134 30,415 448,972 Total consumer 1,497,629 861,647 312,157 2,671,433 Other 185,839 9,776 32,815 228,430 Total loans $ 4,914,477 $ 1,555,390 $ 936,325 $ 7,406,192 The following tables present the aging of the recorded investment in past due loans, based on contractual terms, as of June 30, 2017 : (Dollars in thousands) 30-89 Days Past Due Greater than 90 Days Past Due Non-accrual Total Non-purchased credit impaired loans Non-owner occupied commercial real estate $ — $ — $ 2,255 $ 2,255 Other commercial construction and land 55 — 53 108 Multifamily commercial real estate — — — — 1-4 family residential construction and land — — — — Total commercial real estate 55 — 2,308 2,363 Owner occupied commercial real estate 40 — 4,367 4,407 Commercial and industrial loans 101 — 784 885 Total commercial 141 — 5,151 5,292 1-4 family residential 762 — 1,557 2,319 Home equity loans 2,089 — 2,186 4,275 Other consumer loans 5,915 — 2,619 8,534 Total consumer 8,766 — 6,362 15,128 Other — — — — Total loans $ 8,962 $ — $ 13,821 $ 22,783 (Dollars in thousands) 30-89 Days Past Due Greater than 90 Days Past Due Non-accrual Total Purchased credit impaired loans (1) Non-owner occupied commercial real estate $ 2,360 $ 333 $ — $ 2,693 Other commercial construction and land 348 880 — 1,228 Multifamily commercial real estate — 139 — 139 1-4 family residential construction and land — — — — Total commercial real estate 2,708 1,352 — 4,060 Owner occupied commercial real estate 1,250 3,150 — 4,400 Commercial and industrial loans 2 555 — 557 Total commercial 1,252 3,705 — 4,957 1-4 family residential 1,878 2,233 — 4,111 Home equity loans 993 786 — 1,779 Other consumer loans 2,521 1,489 — 4,010 Total consumer 5,392 4,508 — 9,900 Other — 724 — 724 Total loans $ 9,352 $ 10,289 $ — $ 19,641 The following tables present the aging of the recorded investment in past due loans, based on contractual terms, as of December 31, 2016 : (Dollars in thousands) 30-89 Days Past Due Greater than 90 Days Past Due and Still Accruing/Accreting Non-accrual Total Non-purchased credit impaired loans Non-owner occupied commercial real estate $ — $ — $ 2,584 $ 2,584 Other commercial construction and land 23 — 204 227 Multifamily commercial real estate — — — — 1-4 family residential construction and land 148 — — 148 Total commercial real estate 171 — 2,788 2,959 Owner occupied commercial real estate 2,633 — 2,950 5,583 Commercial and industrial loans 169 — 698 867 Total commercial 2,802 — 3,648 6,450 1-4 family residential 493 — 1,048 1,541 Home equity loans 1,336 — 1,568 2,904 Other consumer loans 8,143 — 2,397 10,540 Total consumer 9,972 — 5,013 14,985 Other — — — — Total loans $ 12,945 $ — $ 11,449 $ 24,394 (Dollars in thousands) 30-89 Days Past Due Greater than 90 Days Past Due and Still Accruing/Accreting Non-accrual Total Purchased credit impaired loans (1) Non-owner occupied commercial real estate $ — $ 1,130 $ — $ 1,130 Other commercial construction and land 550 777 — 1,327 Multifamily commercial real estate — 420 — 420 1-4 family residential construction and land — — — — Total commercial real estate 550 2,327 — 2,877 Owner occupied commercial real estate 1,844 3,776 — 5,620 Commercial and industrial loans 592 509 — 1,101 Total commercial 2,436 4,285 — 6,721 1-4 family residential 4,288 6,060 — 10,348 Home equity loans 1,128 1,470 — 2,598 Other consumer loans 2,558 1,048 — 3,606 Total consumer 7,974 8,578 — 16,552 Other 87 716 — 803 Total loans $ 11,047 $ 15,906 $ — $ 26,953 (1) Pooled PCI loans are not classified as nonaccrual as they are considered to be accruing because their interest income relates to the accretable yield recognized under accounting for purchased credit-impaired loans and not to contractual interest payments. Credit Quality Indicators The Company categorizes loans into risk categories based on relevant information about the ability of borrowers to service their debt such as: current financial information, historical payment experience, credit documentation, public information, and current economic trends, among other factors. The Company analyzes loans individually by classifying the loans as to credit risk. This analysis is performed at origination and upon identification of a material change for all loans, on an annual basis for commercial loans exceeding $0.5 million , and at least quarterly for commercial loans not rated pass. The Company uses the following definitions for risk ratings: • Pass —These loans range from superior quality with minimal credit risk to loans requiring heightened management attention but that are still an acceptable risk and continue to perform as contracted. • Special Mention —Loans classified as special mention have a potential weakness that deserves management’s close attention. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for the loan or of the institution’s credit position at some future date. • Substandard —Loans classified as substandard are inadequately protected by the current net worth and paying capacity of the obligor or of the collateral pledged, if any. Loans so classified have a well-defined weakness or weaknesses that jeopardize the liquidation of the debt. They are characterized by the distinct possibility that the institution will sustain some loss if the deficiencies are not corrected. • Doubtful —Loans classified as doubtful have all the weaknesses inherent in those classified as substandard, with 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. The following table summarizes loans, excluding PCI loans, by internal rating at June 30, 2017 : Substandard (Dollars in thousands) Pass Special Mention Accruing Non-accrual Doubtful Total Non-owner occupied commercial real estate $ 1,044,423 $ 2,294 $ — $ 2,255 $ — $ 1,048,972 Other commercial construction and land 328,844 — — 53 — 328,897 Multifamily commercial real estate 130,861 — 196 — — 131,057 1-4 family residential construction and land 153,331 — — — — 153,331 Total commercial real estate 1,657,459 2,294 196 2,308 — 1,662,257 Owner occupied commercial real estate 1,094,739 27,128 3,285 4,367 — 1,129,519 Commercial and industrial loans 1,334,082 1,447 15,198 784 — 1,351,511 Total commercial 2,428,821 28,575 18,483 5,151 — 2,481,030 1-4 family residential 1,587,587 1,586 2,116 1,557 — 1,592,846 Home equity loans 425,468 256 1,259 2,186 — 429,169 Other consumer loans 367,971 — 61 2,619 — 370,651 Total consumer 2,381,026 1,842 3,436 6,362 — 2,392,666 Other 210,562 — — — — 210,562 Total loans $ 6,677,868 $ 32,711 $ 22,115 $ 13,821 $ — $ 6,746,515 The following table summarizes loans, excluding PCI loans, by internal rating at December 31, 2016 : Substandard (Dollars in thousands) Pass Special Mention Accruing Non-accrual Doubtful Total Non-owner occupied commercial real estate $ 896,394 $ 1,251 $ 1,119 $ 2,584 $ — $ 901,348 Other commercial construction and land 255,530 — — 204 — 255,734 Multifamily commercial real estate 96,802 — — — — 96,802 1-4 family residential construction and land 139,647 — — — — 139,647 Total commercial real estate 1,388,373 1,251 1,119 2,788 — 1,393,531 Owner occupied commercial real estate 1,124,285 10,210 4,494 2,950 — 1,141,939 Commercial and industrial loans 1,351,581 16,709 10,518 698 — 1,379,506 Total commercial 2,475,866 26,919 15,012 3,648 — 2,521,445 1-4 family residential 1,495,653 899 2,143 1,048 — 1,499,743 Home equity loans 437,880 62 1,466 1,568 — 440,976 Other consumer loans 416,117 — 43 2,397 — 418,557 Total consumer 2,349,650 961 3,652 5,013 — 2,359,276 Other 195,615 — — — — 195,615 Total loans $ 6,409,504 $ 29,131 $ 19,783 $ 11,449 $ — $ 6,469,867 |
Allowance for Loan and Lease Lo
Allowance for Loan and Lease Losses | 6 Months Ended |
Jun. 30, 2017 | |
Receivables [Abstract] | |
Allowance for Loan and Lease Losses | Allowance for Loan and Lease Losses Activity in the allowance for loan and lease losses for the three and six months ended June 30, 2017 and 2016 is as follows: (Dollars in thousands) Three Months Ended Six Months Ended June 30, 2017 June 30, 2016 June 30, 2017 June 30, 2016 Balance, beginning of period $ 43,891 $ 45,263 $ 43,065 $ 45,034 Provision (reversal) for loan losses for PCI loans 818 (778 ) 1,004 (787 ) Provision for loan losses for non-PCI loans 1,485 1,950 4,691 3,334 Non-PCI loans charged-off (2,502 ) (2,316 ) (5,685 ) (4,140 ) Recoveries of non-PCI loans previously charged-off 946 764 1,563 1,442 Balance, end of period $ 44,638 $ 44,883 $ 44,638 $ 44,883 The following tables present the roll forward of the allowance for loan and lease losses for the three and six months ended June 30, 2017 by the class of loans against which the allowance is allocated: (Dollars in thousands) March 31, 2017 Provision/ Net (Charge-offs)/ June 30, 2017 Non-owner occupied commercial real estate $ 1,241 $ 8 $ 3 $ 1,252 Other commercial construction and land 13,668 (2,260 ) 107 11,515 Multifamily commercial real estate 171 22 — 193 1-4 family residential construction and land 741 (152 ) 2 591 Total commercial real estate 15,821 (2,382 ) 112 13,551 Owner occupied commercial real estate 1,486 (197 ) 35 1,324 Commercial and industrial loans 8,918 620 32 9,570 Total commercial 10,404 423 67 10,894 1-4 family residential 8,880 488 48 9,416 Home equity loans 1,079 159 (41 ) 1,197 Other consumer loans 7,410 3,240 (1,428 ) 9,222 Total consumer 17,369 3,887 (1,421 ) 19,835 Other 297 375 (314 ) 358 Total loans $ 43,891 $ 2,303 $ (1,556 ) $ 44,638 (Dollars in thousands) December 31, 2016 Provision/ Net (Charge-offs)/ June 30, 2017 Non-owner occupied commercial real estate $ 1,989 $ (741 ) $ 4 $ 1,252 Other commercial construction and land 12,692 (1,286 ) 109 11,515 Multifamily commercial real estate 171 22 — 193 1-4 family residential construction and land 666 (79 ) 4 591 Total commercial real estate 15,518 (2,084 ) 117 13,551 Owner occupied commercial real estate 1,397 (110 ) 37 1,324 Commercial and industrial loans 9,509 243 (182 ) 9,570 Total commercial 10,906 133 (145 ) 10,894 1-4 family residential 9,188 180 48 9,416 Home equity loans 1,214 (20 ) 3 1,197 Other consumer loans 5,890 6,828 (3,496 ) 9,222 Total consumer 16,292 6,988 (3,445 ) 19,835 Other 349 658 (649 ) 358 Total loans $ 43,065 $ 5,695 $ (4,122 ) $ 44,638 The following tables present the roll forward of the allowance for loan and lease losses for the three and six months ended June 30, 2016 by the class of loans against which the allowance is allocated: (Dollars in thousands) March 31, 2016 Provision/ Net(Charge-offs)/ June 30, 2016 Non-owner occupied commercial real estate $ 1,671 $ 366 $ 2 $ 2,039 Other commercial construction and land 13,196 (445 ) 6 12,757 Multifamily commercial real estate 182 (29 ) — 153 1-4 family residential construction and land 1,285 (329 ) 2 958 Total commercial real estate 16,334 (437 ) 10 15,907 Owner occupied commercial real estate 1,687 (128 ) — 1,559 Commercial and industrial loans 10,129 1,153 (482 ) 10,800 Total commercial 11,816 1,025 (482 ) 12,359 1-4 family residential 10,374 (585 ) 175 9,964 Home equity loans 1,595 (223 ) (11 ) 1,361 Other consumer loans 4,842 1,161 (1,015 ) 4,988 Total consumer 16,811 353 (851 ) 16,313 Other 302 231 (229 ) 304 Total loans $ 45,263 $ 1,172 $ (1,552 ) $ 44,883 (Dollars in thousands) December 31, 2015 Provision/ Net(Charge-offs)/ June 30, 2016 Non-owner occupied commercial real estate $ 1,598 $ 432 $ 9 $ 2,039 Other commercial construction and land 12,919 (171 ) 9 12,757 Multifamily commercial real estate 186 (33 ) — 153 1-4 family residential construction and land 1,275 (320 ) 3 958 Total commercial real estate 15,978 (92 ) 21 15,907 Owner occupied commercial real estate 1,505 134 (80 ) 1,559 Commercial and industrial loans 9,627 1,618 (445 ) 10,800 Total commercial 11,132 1,752 (525 ) 12,359 1-4 family residential 11,057 (1,273 ) 180 9,964 Home equity loans 1,853 (593 ) 101 1,361 Other consumer loans 4,751 2,152 (1,915 ) 4,988 Total consumer 17,661 286 (1,634 ) 16,313 Other 263 601 (560 ) 304 Total loans $ 45,034 $ 2,547 $ (2,698 ) $ 44,883 The following tables present the roll forward of the allowance for loan and lease losses for PCI and non-PCI loans for the three and six months ended June 30, 2017 and 2016 , by the class of loans against which the allowance is allocated: (Dollars in thousands) Three Months Ended June 30, 2017 June 30, 2016 Non-PCI PCI Total Non-PCI PCI Total Allowance for loan and lease losses at the beginning of the period $ 20,690 $ 23,201 $ 43,891 $ 20,784 $ 24,479 $ 45,263 Charge-offs: Non-owner occupied commercial real estate — — — (1 ) — (1 ) Other commercial construction and land (7 ) — (7 ) — — — Multifamily commercial real estate — — — — — — 1-4 family residential construction and land — — — — — — Total commercial real estate (7 ) — (7 ) (1 ) — (1 ) Owner occupied commercial real estate — — — — — — Commercial and industrial loans (12 ) — (12 ) (503 ) — (503 ) Total commercial (12 ) — (12 ) (503 ) — (503 ) 1-4 family residential — — — — — — Home equity loans (117 ) — (117 ) (113 ) — (113 ) Other consumer loans (1,873 ) — (1,873 ) (1,211 ) — (1,211 ) Total consumer (1,990 ) — (1,990 ) (1,324 ) — (1,324 ) Other (493 ) — (493 ) (488 ) — (488 ) Total charge-offs (2,502 ) — (2,502 ) (2,316 ) — (2,316 ) Recoveries: Non-owner occupied commercial real estate 3 — 3 3 — 3 Other commercial construction and land 114 — 114 6 — 6 Multifamily commercial real estate — — — — — — 1-4 family residential construction and land 2 — 2 2 — 2 Total commercial real estate 119 — 119 11 — 11 Owner occupied commercial real estate 35 — 35 — — — Commercial and industrial loans 44 — 44 21 — 21 Total commercial 79 — 79 21 — 21 1-4 family residential 48 — 48 175 — 175 Home equity loans 76 — 76 102 — 102 Other consumer loans 445 — 445 196 — 196 Total consumer 569 — 569 473 — 473 Other 179 — 179 259 — 259 Total recoveries 946 — 946 764 — 764 Net charge-offs (1,556 ) — (1,556 ) (1,552 ) — (1,552 ) Provision (reversal) for loan and lease losses: Non-owner occupied commercial real estate (95 ) 103 8 (176 ) 542 366 Other commercial construction and land (52 ) (2,208 ) (2,260 ) 186 (631 ) (445 ) Multifamily commercial real estate 13 9 22 (8 ) (21 ) (29 ) 1-4 family residential construction and land (152 ) — (152 ) 45 (374 ) (329 ) Total commercial real estate (286 ) (2,096 ) (2,382 ) 47 (484 ) (437 ) Owner occupied commercial real estate (227 ) 30 (197 ) (100 ) (28 ) (128 ) Commercial and industrial loans 166 454 620 680 473 1,153 Total commercial (61 ) 484 423 580 445 1,025 1-4 family residential (173 ) 661 488 (185 ) (400 ) (585 ) Home equity loans (2 ) 161 159 71 (294 ) (223 ) Other consumer loans 1,688 1,552 3,240 1,183 (22 ) 1,161 Total consumer 1,513 2,374 3,887 1,069 (716 ) 353 Other 319 56 375 254 (23 ) 231 Total provision (reversal) for loan and lease losses 1,485 818 2,303 1,950 (778 ) 1,172 Allowance for loan and lease losses at the end of the period $ 20,619 $ 24,019 $ 44,638 $ 21,182 $ 23,701 $ 44,883 (Dollars in thousands) Six Months Ended June 30, 2017 June 30, 2016 Non-PCI PCI Total Non-PCI PCI Total Allowance for loan and lease losses at the beginning of the period $ 20,050 $ 23,015 $ 43,065 $ 20,546 $ 24,488 $ 45,034 Charge-offs: Non-owner occupied commercial real estate — — — (2 ) — (2 ) Other commercial construction and land (7 ) — (7 ) — — — Multifamily commercial real estate — — — — — — 1-4 family residential construction and land — — — — — — Total commercial real estate (7 ) — (7 ) (2 ) — (2 ) Owner occupied commercial real estate (6 ) — (6 ) (80 ) — (80 ) Commercial and industrial loans (252 ) — (252 ) (504 ) — (504 ) Total commercial (258 ) — (258 ) (584 ) — (584 ) 1-4 family residential (2 ) — (2 ) — — — Home equity loans (156 ) — (156 ) (174 ) — (174 ) Other consumer loans (4,195 ) — (4,195 ) (2,340 ) — (2,340 ) Total consumer (4,353 ) — (4,353 ) (2,514 ) — (2,514 ) Other (1,067 ) — (1,067 ) (1,040 ) — (1,040 ) Total charge-offs (5,685 ) — (5,685 ) (4,140 ) — (4,140 ) Recoveries: Non-owner occupied commercial real estate 4 — 4 11 — 11 Other commercial construction and land 116 — 116 9 — 9 Multifamily commercial real estate — — — — — — 1-4 family residential construction and land 4 — 4 3 — 3 Total commercial real estate 124 — 124 23 — 23 Owner occupied commercial real estate 43 — 43 — — — Commercial and industrial loans 70 — 70 59 — 59 Total commercial 113 — 113 59 — 59 1-4 family residential 50 — 50 180 — 180 Home equity loans 159 — 159 275 — 275 Other consumer loans 699 — 699 425 — 425 Total consumer 908 — 908 880 — 880 Other 418 — 418 480 — 480 Total recoveries 1,563 — 1,563 1,442 — 1,442 Net charge-offs (4,122 ) — (4,122 ) (2,698 ) — (2,698 ) Provision (reversal) for loan and lease losses: Non-owner occupied commercial real estate (66 ) (675 ) (741 ) (227 ) 659 432 Other commercial construction and land (202 ) (1,084 ) (1,286 ) 83 (254 ) (171 ) Multifamily commercial real estate 39 (17 ) 22 (22 ) (11 ) (33 ) 1-4 family residential construction and land (79 ) — (79 ) 86 (406 ) (320 ) Total commercial real estate (308 ) (1,776 ) (2,084 ) (80 ) (12 ) (92 ) Owner occupied commercial real estate (81 ) (29 ) (110 ) 38 96 134 Commercial and industrial loans (522 ) 765 243 986 632 1,618 Total commercial (603 ) 736 133 1,024 728 1,752 1-4 family residential (255 ) 435 180 (285 ) (988 ) (1,273 ) Home equity loans (15 ) (5 ) (20 ) (84 ) (509 ) (593 ) Other consumer loans 5,237 1,591 6,828 2,167 (15 ) 2,152 Total consumer 4,967 2,021 6,988 1,798 (1,512 ) 286 Other 635 23 658 592 9 601 Total provision (reversal) for loan and lease losses 4,691 1,004 5,695 3,334 (787 ) 2,547 Allowance for loan and lease losses at the end of the period $ 20,619 $ 24,019 $ 44,638 $ 21,182 $ 23,701 $ 44,883 The following table presents the balance in the allowance for loan and lease losses and the recorded investment in loans by class of loan and by impairment evaluation method as of June 30, 2017 : (Dollars in thousands) Allowance for Loan and Lease Losses Loans Individually Collectively Purchased Individually Collectively (1) Purchased Non-owner occupied commercial real estate $ — $ 897 $ 355 $ 2,764 $ 1,046,208 $ 216,604 Other commercial construction and land 21 1,584 9,910 120 328,777 55,684 Multifamily commercial real estate — 88 105 — 131,057 16,308 1-4 family residential construction and land — 591 — — 153,331 430 Total commercial real estate 21 3,160 10,370 2,884 1,659,373 289,026 Owner occupied commercial real estate 1 1,097 226 8,591 1,120,928 158,292 Commercial and industrial loans 400 5,426 3,744 13,532 1,337,979 73,351 Total commercial 401 6,523 3,970 22,123 2,458,907 231,643 1-4 family residential 121 1,929 7,366 2,626 1,586,687 189,953 Home equity loans 122 502 573 1,921 427,248 60,328 Other consumer loans 9 7,542 1,671 386 370,265 25,156 Total consumer 252 9,973 9,610 4,933 2,384,200 275,437 Other — 289 69 — 210,562 27,493 Total loans $ 674 $ 19,945 $ 24,019 $ 29,940 $ 6,713,042 $ 823,599 (1) Loans collectively evaluated for impairment include $1.3 billion of acquired loans which are presented net of unamortized purchase discounts of $17.0 million . The following table presents the balance in the allowance for loan and lease losses and the recorded investment in loans by class of loan and by impairment evaluation method as of December 31, 2016 : (Dollars in thousands) Allowance for Loan and Lease Losses Loans Individually Evaluated for Impairment Collectively Evaluated for Impairment Purchased Credit- Impaired Individually Evaluated for Impairment Collectively Evaluated for Impairment (1) Purchased Credit- Impaired Non-owner occupied commercial real estate $ — $ 959 $ 1,030 $ 2,835 $ 898,513 $ 229,535 Other commercial construction and land 20 1,678 10,994 109 255,625 71,888 Multifamily commercial real estate — 49 122 — 96,802 20,713 1-4 family residential construction and land — 666 — — 139,647 383 Total commercial real estate 20 3,352 12,146 2,944 1,390,587 322,519 Owner occupied commercial real estate 1 1,141 255 8,858 1,133,081 179,466 Commercial and industrial loans 6 6,524 2,979 9,548 1,369,958 89,368 Total commercial 7 7,665 3,234 18,406 2,503,039 268,834 1-4 family residential 121 2,136 6,931 1,963 1,484,906 214,959 Home equity loans 113 523 578 1,392 439,584 66,783 Other consumer loans 13 5,797 80 452 418,105 30,415 Total consumer 247 8,456 7,589 3,807 2,342,595 312,157 Other — 303 46 — 195,615 32,815 Total loans $ 274 $ 19,776 $ 23,015 $ 25,157 $ 6,431,836 $ 936,325 (1) Loans collectively evaluated for impairment include $1.6 billion of acquired loans which are presented net of unamortized purchase discounts of $20.0 million . For the three and six months ended June 30, 2017 and June 30, 2016 , the amount of interest income recognized on loans that were impaired was not material. Troubled Debt Restructuring If a borrower is experiencing financial difficulty, the Bank may consider, in certain circumstances, modifying the terms of their loan to maximize collection of amounts due. A troubled debt restructuring (“TDR”) typically involves either a reduction of the stated interest rate of the loan, an extension of the loan’s maturity date(s) with a stated rate lower than the current market rate for a new loan with similar risk, or in limited circumstances, a reduction of the principal balance of the loan or the loan’s accrued interest. Upon modification of a loan, the Bank measures the related impairment as the excess of the recorded investment in the loan over the discounted expected future cash flows. The present value of expected future cash flows is discounted at the loan’s effective interest rate. If the impairment analysis results in a loss, an allowance for loan and lease losses is established for the loan. During the six months ended June 30, 2017 and 2016 , loans modified in TDRs were nominal. Because of the insignificance of the amount and the nature of the modifications, the modifications did not have a material impact on the Company’s Consolidated Financial Statements or on the determination of the allowance for loan and lease losses at June 30, 2017 and 2016 . The Company had loans modified in TDRs with recorded investments of $2.5 million , $2.7 million , and $1.8 million as of June 30, 2017 , December 31, 2016 and June 30, 2016 , respectively. |
Other Real Estate Owned
Other Real Estate Owned | 6 Months Ended |
Jun. 30, 2017 | |
Banking and Thrift [Abstract] | |
Other Real Estate Owned | Other Real Estate Owned The activity within Other Real Estate Owned (“OREO”) for the three and six months ended June 30, 2017 and 2016 is presented in the table below. For the three and six months ended June 30, 2017 , proceeds on sales of OREO were $10.7 million and $15.6 million , respectively and net gains were $0.2 million and $0.5 million , respectively. For the three and six months ended June 30, 2016, proceeds on sales of OREO were $4.7 million and $11.8 million , respectively and net gains were $0.4 million and $1.1 million . respectively. (Dollars in thousands) Three Months Ended Six Months Ended June 30, 2017 June 30, 2016 June 30, 2017 June 30, 2016 Balance, beginning of period $ 51,050 $ 48,505 $ 53,482 $ 52,776 Real estate acquired from borrowers and transfers from other assets 1,036 1,184 3,463 3,772 Valuation allowance (262 ) (1,119 ) (509 ) (1,586 ) Properties sold (10,460 ) (4,334 ) (15,072 ) (10,726 ) Balance, end of period $ 41,364 $ 44,236 $ 41,364 $ 44,236 |
Federal Home Loan Bank Advances
Federal Home Loan Bank Advances and Short-Term Borrowings | 6 Months Ended |
Jun. 30, 2017 | |
Advances from Federal Home Loan Banks [Abstract] | |
Federal Home Loan Bank Advances and Short-Term Borrowings | Federal Home Loan Bank Advances and Short-Term Borrowings Short-term borrowings include securities sold under agreements to repurchase, cash received from counterparties as collateral for mark-to-market exposure on interest rate swaps, and advances from the Federal Home Loan Bank (“FHLB”) . The Bank has securities sold under agreements to repurchase with customers. These overnight agreements are collateralized by investment securities of the United States Government or its agencies which are chosen by the Bank. The amounts outstanding at June 30, 2017 and December 31, 2016 were $32.4 million and $18.0 million , respectively, and were collateralized by $37.7 million and $27.6 million , respectively, of agency mortgage-backed securities. The Bank has $0.3 million and $1.2 million of short term borrowings related to cash received from counterparties as collateral for mark-to-market exposure on interest rate swaps at June 30, 2017 and December 31, 2016 , respectively. The Bank invests in FHLB stock for the purpose of establishing credit lines with the FHLB. The credit availability to the Bank is based on a percentage of the Bank’s total assets as reported on the most recent quarterly financial information submitted to the regulators subject to the pledging of sufficient collateral. The Bank’s collateral with the FHLB consists of a blanket floating lien pledge of the Bank’s residential 1-4 family mortgage, multifamily, home equity line of credit and commercial real estate secured loans. The amounts of eligible collateral at June 30, 2017 and December 31, 2016 provided for incremental borrowing availability of up to $482.6 million and $415.9 million , respectively. At June 30, 2017 and December 31, 2016 , the Bank had $15.3 million and $15.4 million in letters of credit issued by the FHLB respectively, of which $15.0 million and $15.2 million are used as collateral for public funds deposits in lieu of pledging securities to the State of Florida, respectively. The FHLB advances as of June 30, 2017 and December 31, 2016 consisted of the following: (Dollars in thousands) Contractual Outstanding Amount June 30, 2017 Maturity Date Interest Rate as of June 30, 2017 191 November 6, 2017 0.50% 50,000 November 20, 2017 1.18% (1 Month FRC + 2 bps)* 30,000 May 21, 2018 1.32% 50,000 November 23, 2018 1.18% (1 Month FRC + 2 bps)* 50,000 December 31, 2019 1.16% (1 Month FRC + 2 bps)* 60,000 May 28, 2020 1.19% (1 Month FRC + 2 bps)* 80,000 September 20, 2021 1.24% (1 Month FRC + 8 bps)* 75,000 September 29, 2021 1.23% (1 Month FRC + 8 bps)* 75,000 January 20, 2022 1.24% (1 Month FRC + 8 bps)* 409 February 10, 2026 —% $ 470,600 (*) FRC = FHLB Fixed Rate Credit interest rate. (Dollars in thousands) Contractual Outstanding Amount December 31, 2016 Maturity Date Interest Rate as of December 31, 2016 $ 25,000 January 20, 2017 0.63% 155,000 May 19, 2017 0.80% 271 November 6, 2017 0.50% 50,000 November 20, 2017 0.65% (1 Month FRC + 2 bps)* 50,000 November 23, 2018 0.66% (1 Month FRC + 2 bps)* 50,000 December 31, 2019 0.64% (1 Month FRC + 2 bps)* 60,000 May 28, 2020 0.63% (1 Month FRC + 2 bps)* 80,000 September 20, 2021 0.71% (1 Month FRC + 8 bps)* 75,000 September 29, 2021 0.71% (1 Month FRC + 8 bps)* 430 February 10, 2026 —% $ 545,701 (*) FRC = FHLB Fixed Rate Credit interest rate. |
Long-Term Borrowings
Long-Term Borrowings | 6 Months Ended |
Jun. 30, 2017 | |
Debt Disclosure [Abstract] | |
Long-Term Borrowings | Long-Term Borrowings Subordinated Debentures Through its acquisitions of TIB Financial ("TIBB"), Capital Bank Corp. ("CBKN"), Green Bankshares ("GRNB"), Southern Community Financial ("SCMF" or "Southern Community"), and CommunityOne Bancorp ("COB" or "CommunityOne"), the Company assumed fourteen separate pooled offerings of trust preferred securities listed below. The Company is not considered the primary beneficiary of the trusts (variable interest entities), therefore the trusts are not consolidated in the Company’s Consolidated Financial Statements, but rather the subordinated debentures are presented as liabilities. The trusts consist of wholly-owned statutory trust subsidiaries for the purpose of issuing the trust preferred securities. The trusts used the proceeds from the issuance of trust preferred securities to acquire junior subordinated deferrable interest debentures of the Company. The trust preferred securities essentially mirror the debt securities, carrying a cumulative preferred dividend equal to the interest rate on the debt securities. The debt securities and the trust preferred securities each have 30 -year lives. The trust preferred securities and the debt securities are callable by the Company or the trust, at their respective option after a period of time, and at varying premiums and sooner in specific events, subject to prior approval by the Federal Reserve Board (“FRB”), if then required. Deferral of interest payments on the trust preferred securities is allowed for up to 60 months without being considered an event of default. The subordinated debentures are included in Tier 1 capital under the capital guidelines of the Dodd-Frank Act. The subordinated debentures as of June 30, 2017 and December 31, 2016 consisted of the following: (Dollars in thousands) Carrying Amount Date of Offering Face Amount June 30, 2017 December 31, 2016 Interest Rate as of June 30, 2017 Maturity Date July 31, 2001 $ 5,000 $ 4,049 $ 4,018 4.75 % (3 Month LIBOR + 358 bps) July 31, 2031 July 31, 2001 4,000 2,865 2,831 4.75 % (3 Month LIBOR + 358 bps) July 31, 2031 December 20, 2002 5,000 3,579 3,544 4.50 % (3 Month LIBOR + 335 bps) December 30, 2032 June 26, 2003 10,000 6,289 6,231 4.40 % (3 Month LIBOR + 310 bps) June 26, 2033 September 25, 2003 10,000 6,902 6,823 4.01 % (3 Month LIBOR + 285 bps) October 8, 2033 December 30, 2003 10,000 6,079 6,020 4.02 % (3 Month LIBOR + 285 bps) December 30, 2033 June 28, 2005 3,000 1,724 1,697 2.93 % (3 Month LIBOR + 168 bps) June 28, 2035 November 4, 2005 20,000 10,271 10,085 2.62 % (3 Month LIBOR + 137 bps) December 15, 2035 December 22, 2005 10,000 4,932 4,863 2.65 % (3 Month LIBOR + 140 bps) March 15, 2036 December 28, 2005 13,000 7,220 7,107 2.79 % (3 Month LIBOR + 154 bps) March 15, 2036 April 27, 2006 30,000 15,090 14,816 2.62 % (3 Month LIBOR + 132 bps) June 30, 2036 June 23, 2006 20,000 12,247 12,092 2.71 % (3 Month LIBOR + 155 bps) July 7, 2036 May 16, 2007 56,000 31,147 30,685 2.90 % (3 Month LIBOR + 165 bps) June 15, 2037 June 15, 2007 10,000 5,702 5,644 2.65 % (3 Month LIBOR + 143 bps) September 6, 2037 Total $ 206,000 $ 118,096 $ 116,456 |
Shareholders' Equity and Minimu
Shareholders' Equity and Minimum Regulatory Capital Requirements | 6 Months Ended |
Jun. 30, 2017 | |
Regulatory Capital Requirements [Abstract] | |
Shareholders' Equity and Minimum Regulatory Capital Requirements | Shareholders’ Equity and Minimum Regulatory Capital Requirements The Company (on a consolidated basis) and the Bank are subject to various regulatory capital requirements administered by federal and state banking agencies. Failure to meet minimum capital requirements results in certain discretionary and required actions by regulators that could have an effect on the Company’s operations. The regulations require the Company and the Bank to meet specific capital adequacy guidelines that involve quantitative measures of assets, liabilities, and certain off-balance-sheet items as calculated under regulatory accounting practices. The Company’s capital amounts and classifications are also subject to qualitative judgments by the regulators about components, risk weightings, and other factors. To be considered well capitalized or adequately capitalized as defined under the regulatory framework for prompt corrective action, the Bank must maintain minimum Tier 1 leverage, Tier 1 common, Tier 1 risk-based and Total Risk-based ratios. At June 30, 2017 and December 31, 2016 the Bank maintained capital ratios exceeding the requirement to be considered well capitalized. These minimum ratios along with the actual ratios for the Company and the Bank are presented in the following tables: (Dollars in thousands) Well Capitalized Adequately Capitalized Actual June 30, 2017 Amount Ratio Amount Ratio Amount Ratio Tier 1 Leverage Capital (to Average Assets) CBF Consolidated N/A N/A $ 391,011 ≥ 4.0% $ 1,150,427 11.8% Bank $ 487,466 ≥ 5.0% $ 389,973 ≥ 4.0% $ 1,046,843 10.7% Tier 1 Common Equity Capital (to Risk-weighted Assets) CBF Consolidated N/A N/A $ 377,096 ≥ 4.5% $ 1,043,384 12.5% Bank $ 543,319 ≥ 6.5% $ 376,144 ≥ 4.5% $ 1,046,843 12.5% Tier 1 Risk-based Capital (to Risk-weighted Assets) CBF Consolidated N/A N/A $ 502,795 ≥ 6.0% $ 1,150,427 13.7% Bank $ 668,700 ≥ 8.0% $ 501,525 ≥ 6.0% $ 1,046,843 12.5% Total Risk-based Capital (to Risk-weighted Assets) CBF Consolidated N/A N/A $ 670,393 ≥ 8.0% $ 1,195,497 14.3% Bank $ 835,875 ≥ 10.0% $ 668,700 ≥ 8.0% $ 1,091,913 13.1% (Dollars in thousands) Well Capitalized Requirement Adequately Capitalized Requirement Actual December 31, 2016 Amount Ratio Amount Ratio Amount Ratio Tier 1 Capital (to Average Assets) CBF Consolidated N/A N/A $ 360,513 ≥ 4.0% $ 1,101,743 12.2% Bank $ 450,006 ≥ 5.0% $ 360,005 ≥ 4.0% $ 1,010,409 11.2% Tier 1 Common Equity Capital (to Risk-weighted Assets) CBF Consolidated N/A N/A $ 367,521 ≥ 4.5% $ 1,012,831 12.4% Bank $ 529,887 ≥ 6.5% $ 366,845 ≥ 4.5% $ 1,010,409 12.4% Tier 1 Capital (to Risk-weighted Assets) CBF Consolidated N/A N/A $ 490,028 ≥ 6.0% $ 1,101,743 13.5% Bank $ 652,169 ≥ 8.0% $ 489,127 ≥ 6.0% $ 1,010,409 12.4% Total Capital (to Risk-weighted Assets) CBF Consolidated N/A N/A $ 653,371 ≥ 8.0% $ 1,145,351 14.0% Bank $ 815,211 ≥ 10.0% $ 652,169 ≥ 8.0% $ 1,054,016 12.9% As of June 30, 2017 and December 31, 2016 , the Company and the Bank met all capital requirements to which they were subject. Tier 1 Capital for the Company includes trust preferred securities to the extent allowable. Dividends that may be paid by a national bank are limited to that bank’s retained net profits for the preceding two years plus retained net profits up to the date of any dividend declaration in the current calendar year. The Company received dividends from the Bank totaling $6.8 million , $4.2 million , $6.1 million , $5.7 million , and $64.2 million , on May 2, 2017, January 31, 2017, January 24, 2017, October 19, 2016 and June 1, 2016, respectively. The Company may use these dividends for general corporate purposes including acquisitions, or as a return of capital to shareholders through future share repurchases or dividends. In July 2013, the U.S. banking regulators adopted a final rule which implements the Basel III regulatory capital reforms from the Basel Committee on Banking Supervision, and certain changes required by the Dodd-Frank Act. The final rule established an integrated regulatory capital framework and introduces the “Standardized Approach” for risk-weighted assets, which replaces the Basel I risk-based guidance for determining risk-weighted assets as of January 1, 2015, the date the Company became subject to the new rules. Based on the Company's current capital composition and levels, the Company believes it is in compliance with the requirements as set forth in the final rules. The rules include new risk-based capital and leverage ratios, which will be phased in from 2015 to 2019, and refine the definition of what constitutes “capital” for purposes of calculating those ratios. The new minimum capital level requirements applicable to the Company and the Bank under the final rules are as follows: (i) a new common equity Tier 1 capital ratio of 4.5% ; (ii) a Tier 1 capital ratio of 6% (increased from 4% ); (iii) a total capital ratio of 8% (unchanged from previous rules); and (iv) a Tier 1 leverage ratio of 4% for all institutions. The final rules also establish a “capital conservation buffer” above the new regulatory minimum capital requirements. The capital conservation buffer will be phased-in over four years beginning on January 1, 2016, as follows: the maximum buffer will be 0.625% of risk-weighted assets for 2016, 1.25% for 2017, 1.875% for 2018, and 2.5% for 2019 and thereafter. This will result in the following minimum ratios beginning in 2019: (i) a common equity Tier 1 capital ratio of 7.0% , (ii) a Tier 1 capital ratio of 8.5% , and (iii) a total capital ratio of 10.5% . Under the final rules, institutions are subject to limitations on paying dividends, engaging in share repurchases, and paying discretionary bonuses if its capital level falls below the buffer amount. These limitations establish a maximum percentage of eligible retained income that could be utilized for such actions. As of June 30, 2017 , our capital buffer is 6.3% ; exceeding the 2.5% 2019 requirement. The final rules also contain revisions to the prompt corrective action framework, which is designed to place restrictions on insured depository institutions if their capital levels begin to show signs of weakness. Under the prompt corrective action requirements, which are designed to complement the capital conservation buffer, insured depository institutions are required to meet the following increased capital level requirements in order to qualify as “well capitalized:” (i) a new common equity Tier 1 capital ratio of 6.5% ; (ii) a Tier 1 capital ratio of 8% (increased from 6% ); (iii) a total capital ratio of 10% (unchanged from previous rules); and (iv) a Tier 1 leverage ratio of 5% (unchanged from previous rules). Dividend Program On July 20, 2017, the Company's board of directors approved a quarterly common dividend of $0.12 per share payable on August 21, 2017, to shareholders of record as of August 7, 2017. S hare Repurchases The Company’s board of directors has authorized stock repurchases of up to $400.0 million . Stock repurchases may be made from time to time, on the open market or in privately negotiated transactions. The approved stock repurchase program does not obligate the Company to repurchase any particular amount of shares, and the program may be extended, modified, suspended, or discontinued at any time. As of June 30, 2017 , the Company has repurchased a total of $312.4 million , or 12,739,763 common shares at an average price of $24.52 per share with $87.6 million remaining under the current board authorized stock repurchase program. The Company accounts for treasury stock using the cost method as a reduction of shareholders’ equity in the accompanying Consolidated Balance Sheets and Statements of Changes in Shareholders’ Equity. |
Stock-Based Compensation
Stock-Based Compensation | 6 Months Ended |
Jun. 30, 2017 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Stock-Based Compensation | Stock-Based Compensation As of June 30, 2017 , the Company had two compensation plans, the 2010 Equity Incentive Plan (the "2010 Plan") and the 2013 Omnibus Compensation Plan (the “2013 Plan”) under which shares of its common stock are issuable in the form of stock options, stock appreciation rights, restricted stock, restricted stock units, stock awards, stock bonus awards, and other incentive awards. The 2010 Plan was replaced by the 2013 Plan and no further awards may be made pursuant to the 2010 Plan. The 2013 Plan was effective May 22, 2013 and expires on May 22, 2023 , the tenth anniversary of the effective date. The maximum number of shares of common stock of the Company that may be optioned or awarded under this plan is 2,639,000 shares. Awards under this plan may be made to any person selected by the Compensation Committee. The following table summarizes the components and classification of stock-based compensation expense for the three and six months ended June 30, 2017 and 2016 : (Dollars in thousands) Three Months Ended Six Months Ended June 30, 2017 June 30, 2016 June 30, 2017 June 30, 2016 Stock options $ 28 $ 12 $ 52 $ 21 Restricted stock 936 455 1,812 763 Total stock-based compensation expense $ 964 $ 467 $ 1,864 $ 784 The tax benefit related to stock-based compensation expense arising from restricted stock awards and non-qualified stock options was $362 thousand and $177 thousand for the three months ended June 30, 2017 and 2016 , respectively and $699 thousand and $298 thousand for the six months ended June 30, 2017 and 2016 , respectively. Stock Options Under the 2010 Plan and 2013 Plan, the exercise price for common stock must equal at least 100% of the fair market value of the stock on the day an option is granted. The exercise price under an incentive stock option granted to a person owning stock representing more than 10% of the common stock must equal at least 110% of the fair market value at the date of grant, and such option is not exercisable after five years from the date the incentive stock option was granted. The Board of Directors may, at its discretion, provide that an option not be exercised in whole or in part for any period or periods of time as specified in the option agreements. Stock options have an expiration of ten years from the date it is granted. Under these plans, 83,729 options were exercised and 15,623 stock options were granted during the six months ended June 30, 2017 . The fair value of each option is estimated as of the date of the grant using the Black-Scholes Option Pricing Model. This model requires the input of subjective assumptions that will usually have a significant impact on the fair value estimate. The dividend yield assumption is consistent with management expectations of dividend distributions based upon the Company’s business plan at the date of grant. The risk-free interest rate was developed using the U.S. Treasury yield curve for a period equal to the expected life of the options on the grant date. The expected option life for the current period grants was estimated using the vesting period, the term of the option and estimates of future exercise behavior patterns. The expected volatility assumption was based on the historical volatility of the Company's stock price. ASC 718 requires the recognition of stock-based compensation expense for the number of awards that are ultimately expected to vest. During the six months ended June 30, 2017 and 2016 , stock based compensation expense was recorded based upon assumptions that the Company would experience no forfeitures. This assumption of forfeitures will be reassessed in subsequent periods based on historical forfeiture rates and may change based on new facts and circumstances. Any changes in assumptions will be accounted for prospectively in the period of change. A summary of the stock option activity for the six months ended June 30, 2017 and 2016 is as follows: Six Months Ended June 30, 2017 June 30, 2016 (Shares in thousands) Shares Weighted Shares Weighted Balance, January 1, 3,180 $ 20.86 3,075 $ 20.12 Granted 15 39.55 30 30.54 Exercised (84 ) 20.55 (27 ) 18.00 Canceled, expired or forfeited (3 ) 70.98 (2 ) 30.54 Balance, June 30, 3,108 $ 20.92 3,076 $ 20.23 At June 30, 2017 , the weighted average remaining contractual life for outstanding stock options was approximately 3.34 years and the aggregate intrinsic values was $51.5 million for stock options outstanding and exercisable. The intrinsic value for stock options is calculated as the difference between the exercise price of the underlying awards and the market price of the Company’s common stock as of the reporting date. Options outstanding at June 30, 2017 were as follows: (Shares in thousands) Outstanding Options Exercisable Options Range of Exercise Prices Shares Weighted Average Remaining Contractual Life Weighted Average Exercise Price Per Share Shares Weighted Average Exercise Price Per Share $18.00 121 5.89 years $ 18.00 121 $ 18.00 $18.01 - $20.00 2,819 2.98 years 20.00 2,819 20.00 $20.01 - $2,026.00 168 7.67 years 37.31 113 38.11 $18.00 - $2,026.00 3,108 3.34 years $ 20.85 3,053 $ 20.59 Restricted Stock Restricted stock provides the grantee with voting, dividend and anti-dilution rights equivalent to common shareholders, but is restricted from transfer until vested, at which time all restrictions are removed. The restricted stock vests ratably over a three -year period subject to continued employment with the company. The value of the restricted stock is being amortized on a straight-line basis over the implied service periods. There were 165,063 restricted stock awards granted under the 2013 Plan during the six months ended June 30, 2017 . The following table summarizes unvested restricted stock activity for the six months ended June 30, 2017 and 2016 : Six Months Ended June 30, 2017 June 30, 2016 (Shares in thousands) Shares Weighted Shares Weighted Balance, January 1, 197 $ 30.10 — $ — Granted 165 39.56 198 30.30 Vested or released (64 ) 30.56 — — Canceled, expired or forfeited (3 ) 34.07 (1 ) 30.54 Balance, June 30 295 $ 35.25 197 $ 30.30 |
Income Taxes
Income Taxes | 6 Months Ended |
Jun. 30, 2017 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | Income Taxes A reconciliation of income tax computed at applicable Federal statutory income tax rates to total income tax expense reported for the three and six months ended June 30, 2017 and 2016 is as follows: (Dollars in thousands) Three Months Ended Six Months Ended June 30, 2017 June 30, 2016 June 30, 2017 June 30, 2016 Income before income taxes $ 37,954 $ 27,729 $ 69,827 $ 43,349 Income taxes computed at Federal statutory tax rate 13,283 9,705 24,439 15,172 Effect of: State taxes (net of federal benefit) 976 851 1,773 1,321 State statutory rate change 461 — 461 — Tax-exempt interest income, net (382 ) (311 ) (716 ) (481 ) Other, net (190 ) 43 (819 ) 36 Total income tax expense $ 14,148 $ 10,288 $ 25,138 $ 16,048 The Company uses an estimated annual effective tax rate method of computing its interim tax provision. The effective tax rate is based on forecasted annual pre-tax income, permanent differences and statutory tax rates. For the three and six months ended June 30, 2017 , the effective income tax rates were 37% and 36% , respectively. For the three and six months ended June 30, 2016 , the effective income tax rates were 37% . The change in effective income tax rate was mainly due to higher state income taxes, higher tax exempt interest income and other favorable adjustments. The Company and its subsidiaries are subject to U.S. federal income tax, as well as income tax of the states of Florida, New York, South Carolina, North Carolina, and Tennessee. The net deferred tax assets as of June 30, 2017 and December 31, 2016 were $134.5 million and $150.3 million , respectively. A valuation allowance related to deferred tax assets is required when it is considered more likely than not that all or part of the benefit related to such assets will not be realized. In assessing the need for a valuation allowance, the Company considered both positive and negative evidence in concluding that no valuation allowance was necessary at June 30, 2017 and December 31, 2016 . At June 30, 2017 and December 31, 2016 , the Company had $464.6 million and $478.6 million of gross federal net operating loss carry-forwards, respectively, which begin to expire after 2028 and are subject to annual cumulative limitation of $27.8 million for tax year 2017. At June 30, 2017 and December 31, 2016 the company had $506.5 million and $507.0 million of gross state net operating loss carry-forwards expected to be utilized, respectively. At June 30, 2017 and December 31, 2016 , the Company had no unrecognized tax benefits and no material amounts recorded for uncertain tax positions. |
Fair Value
Fair Value | 6 Months Ended |
Jun. 30, 2017 | |
Fair Value Disclosures [Abstract] | |
Fair Value | Fair Value FASB guidance on fair value measurements defines fair value, establishes a framework for measuring fair value, and requires fair value disclosures for certain assets and liabilities measured at fair value on a recurring and non-recurring basis. This guidance defines fair value as the exchange price that would be received for an asset or paid to transfer a liability in an orderly transaction between market participants in the principal or most advantageous market for the asset or liability. This guidance establishes a fair value hierarchy for disclosure of fair value measurements to maximize the use of observable inputs, that is, inputs that reflect the assumptions market participants would use in pricing an asset or liability based on market data obtained from sources independent of the reporting entity. The valuation hierarchy is based upon the transparency of inputs to the valuation of an asset or liability as of the measurement date. A financial instrument’s categorization within the valuation hierarchy is based upon the lowest level of input that is significant to the fair value measurement. Level 1: Quoted prices (unadjusted) for identical assets or liabilities in active markets that the entity can access as of the measurement date. Level 2: Significant other observable inputs other than Level 1 prices such as quoted prices for similar assets or liabilities in active markets; quoted prices for identical or similar assets or liabilities in markets that are not active; or other inputs that are observable or can be corroborated by observable market data. Level 3: Significant unobservable inputs that reflect a reporting entity’s own assumptions about the assumptions that market participants would use in pricing an asset or liability. Cash & cash equivalents Cash and cash equivalents include cash on hand and highly-liquid items with an original maturity of three months or less. Accordingly, the carrying amount of such instruments is considered to be a reasonable estimate of fair value. Derivative financial instruments Interest rate swaps are valued by a third party, using models that primarily use market observable inputs, such as yield curves, and are validated by comparison with valuations provided by the respective counterparties. The credit risk associated with derivative financial instruments that are subject to master netting agreements is measured on a net basis by counterparty portfolio. Forward loan sales agreements are based upon the amounts required to settle the contracts. Fair values for commitments to originate loans held for sale are based on fees currently charged to enter into similar agreements. Fair values for fixed-rate commitments consider the difference between current levels of interest rates and the committed rates. Valuation of Investment Securities The fair values of available-for-sale, held-to-maturity and trading securities are determined by: 1) obtaining quoted prices on nationally recognized securities exchanges when available (Level 1 inputs); 2) matrix pricing, which is a mathematical technique widely used in the financial markets to value debt securities without relying exclusively on quoted prices for the specific securities but rather by relying on the securities’ relationship to other benchmark quoted securities (Level 2 inputs); and 3) for certain other debt securities that are not actively traded, custom discounted cash flow modeling (Level 3 inputs). As of June 30, 2017 , the Bank held industrial revenue bonds, which are floating rate issues. Since there is no active secondary market for the trading of the bonds, the Company has developed a model to estimate fair value. This model determines an appropriate discount rate for the bonds based on current market rates for liquid corporate bonds with an equivalent credit rating plus an estimated illiquidity factor, and calculates the present value of expected future cash flows using this discount rate. Mortgage Loans Held for Sale Mortgage loans held for sale are carried at the lower of cost or estimated fair value. The fair values of mortgage loans held for sale are based on commitments on hand from investors within the secondary market for loans with similar characteristics. As such, the fair value adjustment for mortgage loans held for sale is classified as nonrecurring Level 2. Valuation of Impaired Loans and Other Real Estate Owned The fair value of collateral dependent impaired loans with specific allocations of the allowance for loan and lease losses and other real estate owned is generally based on recent real estate appraisals and other available observable market information. These appraisals may utilize a single valuation approach or a combination of approaches including comparable sales and the income approach. The Company generally uses independent external appraisers in this process who routinely make adjustments to adjust for differences between the comparable sales and income data available. Such adjustments are typically significant and result in a Level 3 classification of the inputs for determining fair value. The Company’s policy is to update appraisals, at a minimum, annually for classified assets, which include collateral dependent loans and OREO. The Company considers appraisals dated within the past 12 months to be current and do not typically make adjustments to such appraisals. In the Company’s process for reviewing third-party prepared appraisals, any differences of opinion on values, assumptions or adjustments to comparable sales data are typically reconciled directly with the independent appraiser prior to acceptance of the final appraisal. Valuation of Premises and Equipment held for sale Premises and equipment held for sale are carried at the lower of cost or estimated fair value. The fair values of premises and equipment held for sale are based on recent real estate appraisals and other available observable market information. Mortgage Servicing Rights As of June 30, 2017 , the fair value of the Company's Level 3 mortgage servicing rights (“MSR”) was $2.5 million , none of which are currently impaired and therefore are carried at amortized cost. The assumptions used include the fee per loan, the cost to service, the expected loan prepayment rate, and the discount rate. In determining the fair value of the existing MSR, the Company reviews the key assumptions, analyzes pricing in the market for comparable MSR, and uses a third party provider to independently calculate the fair value of its MSR. Sensitivity to Changes in Significant Unobservable Inputs As discussed above, as of June 30, 2017 , the Company owns industrial revenue bonds, which require recurring fair value estimates categorized within Level 3 of the fair value hierarchy. The significant unobservable inputs used in the fair value measurement of these securities are incorporated in the discounted cash flow modeling valuation. Rates utilized in the modeling of these securities are estimated based upon a variety of factors including the market yields of other non-investment grade corporate debt. Significant changes in any inputs in isolation would result in significantly different fair value estimates. Assets and Liabilities Measured on a Recurring Basis Assets and liabilities measured at fair value on a recurring basis as of June 30, 2017 are summarized below: (Dollars in thousands) Fair Value Measurement Using: Total Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Assets Trading securities $ 4,290 $ — $ 4,290 $ — Available-for-sale securities: Mortgage-backed securities—residential $ 1,067,577 $ — $ 1,067,577 $ — Industrial revenue bonds 3,137 — — 3,137 Corporate bonds 63,621 — 63,621 — State and political subdivisions—tax exempt 11,377 — 11,377 — Available-for-sale securities $ 1,145,712 $ — $ 1,142,575 $ 3,137 Gross asset value of derivatives $ 1,230 $ — $ 1,230 $ — Liabilities Gross liability value of derivatives $ 1,953 $ — $ 1,953 $ — There were no transfers of assets and liabilities between levels of the fair value hierarchy during the six months ended June 30, 2017 . Assets and liabilities measured at fair value on a recurring basis as of December 31, 2016 are summarized below: (Dollars in thousands) Fair Value Measurement Using: Total Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Assets Trading securities $ 3,791 $ — $ 3,791 $ — Available-for-sale securities: Mortgage-backed securities-residential $ 868,922 $ — $ 868,922 $ — State and political subdivisions - tax exempt 11,077 — 11,077 — Industrial revenue bonds 3,298 — — 3,298 Corporate bonds 28,953 — 28,953 — Available-for-sale securities $ 912,250 $ — $ 908,952 $ 3,298 Gross asset value of derivatives $ 1,078 $ — $ 1,078 $ — Liabilities Gross liability value of derivatives $ 1,354 $ — $ 1,354 $ — There were no transfers of assets and liabilities between levels of the fair value hierarchy during the year ended December 31, 2016 . The table below presents the activity and income statement classifications of gains and losses for all assets measured at fair value on a recurring basis using significant unobservable inputs (Level 3) for the three and six months ended months ended and held at June 30, 2017 and 2016 : (Dollars in thousands) Fair Value Measurement Using Significant Unobservable Inputs (Level 3) Industrial Revenue Bonds Beginning balance, April 1, 2017 $ 3,136 Principal reduction — Included in other comprehensive income 1 Ending balance, June 30, 2017 $ 3,137 (Dollars in thousands) Fair Value Measurement Using Significant Unobservable Inputs (Level 3) Industrial Revenue Bonds Beginning balance, January 1, 2017 $ 3,298 Principal reduction (170 ) Included in other comprehensive income 9 Ending balance, June 30, 2017 $ 3,137 (Dollars in thousands) Fair Value Measurement Using Significant Unobservable Inputs (Level 3) Industrial Revenue Bonds Beginning balance, April 1, 2016 $ 3,249 Principal reduction — Included in other comprehensive income 14 Ending balance, June 30, 2016 $ 3,263 (Dollars in thousands) Fair Value Measurement Using Significant Unobservable Inputs (Level 3) Industrial Revenue Bonds Beginning balance, January 1, 2016 $ 3,437 Principal reduction (170 ) Included in other comprehensive income (4 ) Ending balance, June 30, 2016 $ 3,263 Quantitative Information about Recurring Level 3 Fair Value Measurements (Dollars in thousands) Fair Value at Valuation Technique Significant Range Industrial revenue bonds $ 3,137 Discounted cash flow Discount rate 3.041% - 3.044% Illiquidity factor 0.5% (Dollars in thousands) Fair Value at December 31, 2016 Valuation Technique Significant Unobservable Input Range Industrial revenue bonds $ 3,298 Discounted cash flow Discount rate 3.31% - 3.35% Illiquidity factor 0.5% Assets and Liabilities Measured on a Nonrecurring Basis Assets and liabilities measured at fair value on a nonrecurring basis as of June 30, 2017 are summarized below: (Dollars in thousands) Fair Value Measurement Using: Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Assets Other real estate owned $ — $ — $ 32,583 Premises and equipment held for sale — — 15,744 Other repossessed assets 254 — — Impaired loans — — 1,123 Other real estate owned measured at fair value as of June 30, 2017 had a gross amount of $41.0 million , less valuation allowances totaling $8.5 million and is made up of $28.0 million commercial properties and $4.6 million residential properties. Impairment charges resulting from the non-recurring changes in the fair value of OREO included in the consolidated statement of income for the three and six months ended June 30, 2017 was $0.3 million and $0.5 million , respectively. Premises and equipment held for sale measured at fair value as of June 30, 2017 are primarily comprised of branch properties. Other repossessed assets are primarily comprised of repossessed vehicles and equipment and are measured at fair value as of the date of repossession. Impaired loans are primarily comprised of residential properties and are measured at fair value as of June 30, 2017 . Assets and liabilities measured at fair value on a nonrecurring basis as of December 31, 2016 are summarized below: (Dollars in thousands) Fair Value Measurement Using: Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Assets Other real estate owned $ — $ — $ 41,168 Premises and equipment held for sale — — 2,599 Other repossessed assets 163 — — Impaired loans — — 1,420 Other real estate owned measured at fair value as of December 31, 2016 had a gross amount of $50.0 million , less valuation allowances totaling $8.9 million and is made up of $35.5 million commercial properties and $5.7 million residential properties. Impairment charges resulting from the non-recurring changes in the fair value of OREO included in the consolidated statement of income for the three months ended December 31, 2016 was $0.7 million . Premises and equipment held for sale measured at fair value as of December 31, 2016 are primarily comprised of branch properties. Other repossessed assets are primarily comprised of repossessed vehicles and equipment and are measured at fair value as of the date of repossession. Impaired loans are primarily comprised of residential properties and are measured at fair value as of December 31, 2016 . Quantitative Information about Nonrecurring Level 3 Fair Value Measurements (Dollars in thousands) Fair Value at Valuation Technique Significant Unobservable Input Weighted Average Other real estate owned $ 32,583 Fair value of property Appraised value and other market conditions 7.98% Premises and equipment held for sale 15,744 Fair value of property Appraised value and other market conditions 8.00% Impaired loans 1,123 Fair value of collateral Appraised value and other market conditions 7.34% (Dollars in thousands) Fair Value at December 31, 2016 Valuation Technique Significant Unobservable Input Weighted Average Other real estate owned $ 41,168 Fair value of property Appraised value and other market conditions 7.91% Premises and equipment held for sale 2,599 Fair value of property Appraised value and other market conditions 8.00% Impaired loans 1,420 Fair value of collateral Appraised value and other market conditions 7.47% Carrying amount and estimated fair values of financial instruments were as follows: (Dollars in thousands) Fair Value Measurement June 30, 2017 Carrying Value Estimated Level 1 Level 2 Level 3 Financial Assets Cash and cash equivalents $ 155,411 $ 155,411 $ 155,411 $ — $ — Trading securities 4,290 4,290 — 4,290 — Investment securities available-for-sale 1,145,712 1,145,712 — 1,142,575 3,137 Investment securities held-to-maturity 430,411 431,269 — 431,269 — Loans, net 7,525,476 7,532,656 — 3,533 7,529,123 Other earning assets (1) 28,944 28,944 — — 28,944 Gross asset value of derivatives 1,230 1,230 — 1,230 — Total financial assets $ 9,291,474 $ 9,299,512 $ 155,411 $ 1,582,897 $ 7,561,204 Financial Liabilities Non-contractual deposits $ 5,856,569 $ 5,856,569 $ — $ 5,856,569 $ — Contractual deposits 2,218,444 2,198,543 — 2,198,543 — Federal Home Loan Bank advances 470,600 470,159 — 470,159 — Short-term borrowings 32,637 32,630 — 32,630 — Subordinated debentures 118,096 116,007 — — 116,007 Gross liability value of derivatives 1,953 1,953 — 1,953 — Total financial liabilities $ 8,698,299 $ 8,675,861 $ — $ 8,559,854 $ 116,007 (1) Includes Federal Home Loan Bank stock. (Dollars in thousands) Fair Value Measurement December 31, 2016 Carrying Value Estimated Fair Value Level 1 Level 2 Level 3 Financial Assets Cash and cash equivalents $ 309,055 $ 309,055 $ 309,055 $ — $ — Trading securities 3,791 3,791 — 3,791 — Investment securities available-for-sale 912,250 912,250 — 908,952 3,298 Investment securities held-to-maturity 463,959 460,911 — 460,911 — Loans, net 7,363,127 7,395,128 — 12,874 7,382,254 Other earning assets (1) 32,050 32,050 — — 32,050 Gross asset value of derivatives 1,078 1,078 — 1,078 — Total financial assets $ 9,085,310 $ 9,114,263 $ 309,055 $ 1,387,606 $ 7,417,602 Financial Liabilities Non-contractual deposits $ 5,743,316 $ 5,743,316 $ — $ 5,743,316 $ — Contractual deposits 2,137,312 2,121,519 — 2,121,519 — Federal Home Loan Bank advances 545,701 546,023 — 546,023 — Short-term borrowings 19,157 19,154 — 19,154 — Subordinated debentures 116,456 114,593 — — 114,593 Gross liability value of derivatives 1,354 1,354 — 1,354 — Total financial liabilities $ 8,563,296 $ 8,545,959 $ — $ 8,431,366 $ 114,593 (1) Includes Federal Home Loan Bank stock. The methods and assumptions used to estimate fair value are described as follows: Carrying amount is the estimated fair value for cash and cash equivalents, derivatives, noncontractual demand deposits and certain short-term borrowings. As it is not practicable to determine the fair value of Federal Home Loan Bank stock due to restrictions placed on transferability, the estimated fair value is equal to their carrying amount. Security fair values are based on market prices or dealer quotes and, if no such information is available, on the rate and term of the security and information about the issuer including estimates of discounted cash flows when necessary. For fixed rate loans or contractual deposits and for variable rate loans or deposits with infrequent repricing or repricing limits, fair value is based on discounted cash flows using current market rates applied to the estimated life, adjusted for the allowance for loan and lease losses. Fair values for impaired loans are estimated using discounted cash flow analysis or underlying collateral values. Fair value of loans does not necessarily represent exit price. Fair value of long-term debt is based on current rates for similar financing. The fair value of off-balance sheet items that include commitments to extend credit to fund commercial, consumer, real estate construction and real estate-mortgage loans and to fund standby letters of credit is considered nominal. |
Derivative and Hedging Activiti
Derivative and Hedging Activities | 6 Months Ended |
Jun. 30, 2017 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Derivative and Hedging Activities | Derivative and Hedging Activities The Company principally manages its exposures to a wide variety of business and operational risks through management of its core business activities. The Company enters into derivative financial instruments to manage exposures that arise from business activities that result in the receipt or payment of future known and uncertain cash amounts, the value of which are determined by interest rates. The Company records all derivatives on the balance sheet at fair value. The accounting for changes in the fair value of derivatives depends on the intended use of the derivative, whether the Company has elected to designate a derivative in a hedging relationship and apply hedge accounting and whether the hedging relationship has satisfied the criteria necessary to apply hedge accounting. The Company may enter into derivative contracts that are intended to economically hedge certain of its risks, even though hedge accounting does not apply or the Company elects not to apply hedge accounting. During 2015, the company entered into LIBOR-based interest rate swaps with the objective of limiting the variability of interest payment cash flows resulting from changes in the benchmark interest rate LIBOR. These interest rate swaps are designated as cash flow hedges involving the receipt of fixed-rate amounts from a counterparty in exchange for the Company making variable-rate payments over the life of the agreements without exchange of the underlying notional amount. The effective portion of changes in the fair value of the derivatives is recorded in accumulated other comprehensive income and is subsequently reclassified into earnings in the period that the hedged forecasted transaction affects earnings. Any ineffective portion of a financial instrument’s change in fair value is immediately recognized in earnings. During the next twelve months, the Company estimates that an additional $0.4 million will be reclassified as a decrease to interest income from amounts reported in accumulated comprehensive income. During the six months ended June 30, 2017 , no derivative position designated as cash flow hedges were discontinued and none of the gains and losses reported in other comprehensive income were reclassified into earnings as a result of discontinuance of cash flow hedges. During the second quarter of 2016, the company implemented an interest rate swap program to allow customers to convert variable rate loans to fixed rates. The interest rate swaps are simultaneously offset by interest rate swaps that the Company executes with its derivative counterparties. The changes in the fair value of the swaps offset each other, except for any differences in the credit risk of the counterparties. None of these interest rate swaps are designated or qualify as hedging relationships. As the interest rate swaps associated with this program do not meet hedge accounting requirements, changes in fair value of both the customer swaps and the offsetting swaps are recognized directly in earnings. The Company recorded $0.2 million of customer swap fees in non-interest income for the six months ended June 30, 2017 . The Company also enters into forward loan sales contracts, which are derived from loans held for sale, or in the Company’s pipeline, to enable those borrowers to manage their exposure to interest rate fluctuations. The forward loan sales derivative contracts are not designated as hedging instruments and all changes in fair value are recognized in non-interest income or non-interest expense during the period of change. For the six months ended June 30, 2017 , the Company recorded $29 thousand in non-interest income and $113 thousand in non-interest expense as a result of changes in fair value of derivatives. For the six months ended June 30, 2016 , the company recorded $57 thousand in non-interest income and $2 thousand in non-interest expense as a result of changes in fair value of derivatives. The Company’s derivative instrument contracts at fair value as well as their classification on the Company's Consolidated Balance Sheet is presented below: (Dollars in thousands) June 30, 2017 December 31, 2016 Number of instruments Balance Sheet Location Fair Value Notional Fair Value Notional Asset derivatives Derivatives designated as hedging instruments Interest rate swap — Other assets $ — $ — $ 130 $ 120,000 Derivatives not designated as hedging instruments Forward loan sales contracts 71 Other assets 41 9,648 13 4,205 Interest rate swap 7 Other assets 1,189 39,722 935 24,947 Total asset derivatives $ 1,230 $ 49,370 $ 1,078 $ 149,152 Liability derivatives Derivatives designated as hedging instruments Interest rate swap 4 Other liabilities $ 779 $ 235,000 $ 378 $ 115,000 Derivatives not designated as hedging instruments Forward loan sales contracts 4 Other liabilities 1 889 114 11,870 Interest rate swap 7 Other liabilities 1,173 39,722 862 24,947 Total liability derivatives $ 1,953 $ 275,611 $ 1,354 $ 151,817 The table below presents the effect of the Company's derivative financial instruments on the Consolidated Statements of Income for the three and six months ended June 30, 2017 and 2016 : (Dollars in thousands) Three Months Ended June 30, 2017 Derivatives in Cash Flow Hedging Relationship Amount of Gain Recognized in Accumulated OCI on Derivative (Effective Portion) Location of Gain Reclassified from Accumulated OCI into Income (Effective Portion) Amount of Gain Reclassified from Accumulated OCI on Derivative (Effective Portion) Location of Gain or (Loss) Recognized in Income on Derivative (Ineffective Portion) Amount Recognized in Income on Derivative (Ineffective Portion) Interest rate swap $ 650 Interest income $ 298 N/A $ — (Dollars in thousands) Six Months Ended June 30, 2017 Derivatives in Cash Flow Hedging Relationship Amount of Gain Recognized in Accumulated OCI on Derivative (Effective Portion) Location of Gain Reclassified from Accumulated OCI into Income (Effective Portion) Amount of Gain Reclassified from Accumulated OCI on Derivative (Effective Portion) Location of Gain or (Loss) Recognized in Income on Derivative (Ineffective Portion) Amount Recognized in Income on Derivative (Ineffective Portion) Interest rate swap $ 199 Interest income $ 730 N/A $ — (Dollars in thousands) Three Months Ended June 30, 2016 Derivatives in Cash Flow Hedging Relationship Amount of Gain Recognized in Accumulated OCI on Derivative (Effective Portion) Location of Gain Reclassified from Accumulated OCI into Income (Effective Portion) Amount of Gain Reclassified from Accumulated OCI on Derivative (Effective Portion) Location of Gain or (Loss) Recognized in Income on Derivative (Ineffective Portion) Amount of Gain or (Loss) Recognized in Income on Derivative (Ineffective Portion) Interest rate swap $ 2,155 Interest income $ 634 N/A $ — (Dollars in thousands) Six Months Ended June 30, 2016 Derivatives in Cash Flow Hedging Relationship Amount of Gain Recognized in Accumulated OCI on Derivative (Effective Portion) Location of Gain Reclassified from Accumulated OCI into Income (Effective Portion) Amount of Gain Reclassified from Accumulated OCI on Derivative (Effective Portion) Location of Gain or (Loss) Recognized in Income on Derivative (Ineffective Portion) Amount of Gain or (Loss) Recognized in Income on Derivative (Ineffective Portion) Interest rate swap $ 7,681 Interest income $ 1,278 N/A $ — The table below presents a gross presentation, the effects of offsetting, and a net presentation of the Company's derivatives as of June 30, 2017 : Gross Amounts Not Offset in the Balance Sheets (Dollars in thousands) Gross Amount of Recognized Assets Gross Amount Offset in the Balance Sheets Net Amount of Assets Presented in the Balance Sheets Financial Instruments Cash Collateral Net Amount Offsetting of derivative assets: Interest rate swap $ 1,189 $ — $ 1,189 $ 586 $ 221 $ 382 Total $ 1,189 $ — $ 1,189 $ 586 $ 221 $ 382 Offsetting of derivative liabilities: Interest rate swap 1,952 — 1,952 586 598 $ 768 Total $ 1,952 $ — $ 1,952 $ 586 $ 598 $ 768 The amount of collateral received and posted disclosed in the table above represents the offset of the assets and liabilities as of June 30, 2017 . The actual cash collateral received and posted amounted to $0.3 million and $0.5 million , respectively. The Company has agreements with certain of its derivative counterparties that contain a provision where if the Company defaults on any of its indebtedness or fails to maintain its status as a well-capitalized institution, then the Company could also be declared in default on its derivative obligations and could be required to terminate its derivative positions with the counterparty and settle the termination value of derivatives in a liability position. As of June 30, 2017 , there were eleven derivatives in a $2.0 million net liability position, which includes accrued interest and excludes nonperformance risk, related to these agreements. The Company is exposed to credit-related losses in the event of nonperformance by the counterparties to these agreements. The Company controls the credit risk of its financial contracts through credit approvals, limits and monitoring procedures and agreements that specify collateral levels to be maintained by the Company and the counterparties. The company has minimum collateral posting thresholds with certain derivative counterparties, and has posted $0.5 million of cash collateral against its obligations under these agreements as of June 30, 2017 . |
Basis of Presentation (Policies
Basis of Presentation (Policies) | 6 Months Ended |
Jun. 30, 2017 | |
Accounting Policies [Abstract] | |
Nature of Operations and Principles of Consolidation | Nature of Operations and Principles of Consolidation Capital Bank Financial Corp. (“CBF” or the “Company”; formerly known as North American Financial Holdings, Inc.) is a bank holding company incorporated in late 2009 in Delaware and headquartered in North Carolina whose business is conducted primarily through Capital Bank Corporation (“Capital Bank Corporation” or the “Bank”). The Company was incorporated with the goal of creating a regional banking franchise in the southeastern region of the United States through organic growth and acquisitions of other banks, including failed, underperforming and undercapitalized banks. CBF has raised $955.6 million to make acquisitions through a series of private placements and an initial public offering of its common stock. Since inception, CBF has acquired eight depository institutions, including the assets and certain deposits from failed banks. CBF has a total of 189 full service banking offices located in Florida, North and South Carolina, Tennessee and Virginia. During the six months ended June 30, 2017 , the Company closed and consolidated seven branches in conjunction with the merger of CommunityOne. The Company expects to close and consolidate an additional eleven branches during 2017. As such, the Company transferred $18.1 million from fixed assets to bank properties held for sale during the six months ended June 30, 2017 . The accompanying unaudited Consolidated Financial Statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) for interim financial information and Regulation S-X. Accordingly, they do not include all of the information and disclosures required by U.S. GAAP for complete financial statement presentation. In the opinion of management, all adjustments consisting of normal recurring accruals and disclosures considered necessary for a fair interim presentation have been included. All significant inter-company accounts and transactions have been eliminated in consolidation. For further information, refer to the Company’s Consolidated Financial Statements and notes thereto included in the Company’s annual report on Form 10-K for the fiscal year ended December 31, 2016. Proposed merger with First Horizon National Corporation On May 4, 2017, Capital Bank Financial Corp. issued a press release announcing the execution of an agreement and plan of merger with First Horizon National Corporation (the “First Horizon”) dated May 3, 2017, with First Horizon as the surviving corporation. Subject to terms and conditions of the Merger Agreement, each holder of Capital Bank common stock will be entitled to receive cash or stock with a value equivalent to 1.750 First Horizon shares and $7.90 in cash for each Capital Bank share held, subject to the election allocation and proration provisions of the merger agreement. The transaction is subject to shareholder and regulatory approvals in addition to satisfying certain other closing conditions. |
Use of Estimates and Assumptions | Use of Estimates and Assumptions To prepare financial statements in conformity with U.S. GAAP, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as presented in the financial statements. These estimates and assumptions affect the amounts reported in the financial statements and the disclosures provided, and actual results could differ. |
Recent Accounting Pronouncements | Recent Accounting Pronouncements In March 2017, the Financial Accounting Standard Board (the “FASB”) issued Accounting Standards Update ("ASU") 2017-09, "Compensation—Stock Compensation (Topic 718)". The amendments in this update provide guidance about which changes to the terms or conditions of a share-based payment award require an entity to apply modification accounting in Topic 718. An entity should account for the effects of a modification unless all the following are met: (1) the fair value (or calculated value or intrinsic value, if such an alternative measurement method is used) of the modified award is the same as the fair value (or calculated value or intrinsic value, if such an alternative measurement method is used) of the original award immediately before the original award is modified. If the modification does not affect any of the inputs to the valuation technique that the entity uses to value the award, the entity is not required to estimate the value immediately before and after the modification, (2) the vesting conditions of the modified award are the same as the vesting conditions of the original award immediately before the original award is modified, (3) the classification of the modified award as an equity instrument or a liability instrument is the same as the classification of the original award immediately before the original award is modified. The amendments in this update are effective for public business entities for fiscal years beginning after December 15, 2017. The Company is currently evaluating this ASU to determine the impact on its consolidated financial position, results of operations and cash flows. In March 2017, the FASB issued ASU 2017-08, "Receivables - Nonrefundable Fees and Other Costs (Subtopic 310-20) Premium Amortization on Purchased Callable Debt Securities". The amendments in this update affect all entities that have an amortized cost basis in excess of the amount that is repayable by the issuer at the earliest call date. The objective is to shorten the amortization period for certain callable debt securities held at a premium. Specifically, the amendments require the premium to be amortized to the earliest call date. Securities held at a discount continue to be amortized to maturity. The amendments in this update are effective for public business entities for fiscal years beginning after December 15, 2018. The Company is currently evaluating this ASU to determine the impact on its consolidated financial position, results of operations and cash flows. In March 2017, the FASB issued ASU 2017-07, "Compensation - Retirement Benefits (Topic 715)". The amendments in this update require that an employer report the service cost component in the same line item or items as other compensation costs arising from services rendered by the pertinent employees during the period. The other components of net benefit cost as defined in paragraphs 715-30-35-4 and 715-60-35-9 are required to be presented in the income statement separately from the service cost component and outside a subtotal of income from operations, if one is presented. If a separate line item or items are used to present the other components of net benefit cost, that line item or items must be appropriately described. If a separate line item or items are not used, the line item or items used in the income statement to present the other components of net benefit cost must be disclosed. The amendments in this update also allow only the service cost component to be eligible for capitalization when applicable (for example, as a cost of internally manufactured inventory or a self-constructed asset). The amendments in this update are effective for public business entities for fiscal years beginning after December 15, 2017. The Company is currently evaluating this ASU to determine the impact on its consolidated financial position, results of operations and cash flows. In January 2017, the FASB issued ASU 2017-04, "Intangibles - Goodwill and Other (Topic 350)". The amendments in this update aim to simplify the subsequent measurement of goodwill. Under these amendments, an entity should perform its annual, or interim, goodwill impairment test by comparing the fair value of a reporting unit with its carrying amount. An entity should recognize an impairment charge for the amount by which the carrying amount exceeds the reporting unit’s fair value; however, the loss recognized should not exceed the total amount of goodwill allocated to that reporting unit. Additionally, an entity should consider income tax effects from any tax deductible goodwill on the carrying amount of the reporting unit when measuring the goodwill impairment loss, if applicable. The FASB also eliminated the requirements for any reporting unit with a zero or negative carrying amount to perform a qualitative assessment. An entity is required to disclose the amount of goodwill allocated to each reporting unit with a zero or negative carrying amount of net assets and still has the option to perform the qualitative assessment for a reporting unit to determine if the quantitative impairment test is necessary. The amendments in this update are effective for public business entities for fiscal years beginning after December 15, 2019. The Company is currently evaluating this ASU to determine the impact on its consolidated financial position, results of operations and cash flows. In January 2017, the FASB issued ASU 2017-01, "Business Combinations (Topic 805)". The amendments in this update provide a screen to determine when a set is not a business. The screen requires that when substantially all of the fair value of the gross assets acquired (or disposed of) is concentrated in a single identifiable asset or a group of similar identifiable assets, the set is not a business. This screen reduces the number of transactions that need to be further evaluated. The amendments in this update are effective for public business entities for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. The amendments in this update should be applied prospectively on or after the effective date. The Company is currently evaluating this ASU to determine the impact on its consolidated financial position, results of operations and cash flows. In May 2016, the FASB issued ASU 2016-12, "Revenue from Contracts with Customers (Topic 606): Narrow-Scope Improvements and Practical Expedients". The amendments in this Update represent minor corrections or improvements to narrow aspects of Topic 606, as amended by ASU No. 2014-09, and do not change the core principle of the guidance in Topic 606. The effective date and transition requirements for the amendments in this Update are the same as the effective date and transition requirements for Topic 606 (and any other Topic amended by Update 2014-09), which is not yet effective. The Company is currently evaluating this ASU to determine the impact on its consolidated financial position, results of operations and cash flows. In August 2016, the FASB issued ASU 2016-15, "Statement of Cash Flows—Credit Losses (Topic 230)". The amendments in this update provide guidance on the following eight specific cash flow issues: (1) Debt prepayment or debt extinguishment costs; (2) Settlement of zero-coupon debt instruments or other debt instruments with coupon interest rates that are insignificant in relation to the effective interest rate of the borrowing; (3) Contingent consideration payments made after a business combination; (4) Proceeds from the settlement of insurance claims; (5) Proceeds from the settlement of corporate-owned life insurance policies, including bank-owned life insurance policies; (6) Distributions received from equity method investees; (7) Beneficial interests in securitization transactions; (8) Separately identifiable cash flows and application of the predominance principle. The amendments in this update are effective for public business entities for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years. Early adoption is permitted, including adoption in an interim period. The Company is currently evaluating this ASU to determine the impact on its consolidated financial position, results of operations and cash flows. In June 2016, the FASB issued ASU 2016-13, "Financial Instruments—Credit Losses (Topic 326)". The main objective of this update is to provide financial statement users with more decision-useful information about the expected credit losses on financial instruments and other commitments to extend credit held by a reporting entity at each reporting date. The amendments in this update replace the incurred loss impairment methodology in current GAAP with a methodology that reflects expected credit losses and requires consideration of a broader range of reasonable and supportable information to inform credit loss estimates and affects loans, debt securities, trade receivables, net investments in leases, off-balance-sheet credit exposures, reinsurance receivables, and any other financial assets not excluded from the scope that have the contractual right to receive cash. For public business entities that are U.S. Securities and Exchange Commission (SEC) filers, the amendments in this update are effective for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. The Company is currently evaluating this ASU to determine the impact on its consolidated financial position, results of operations and cash flows. In March 2016, the FASB issued ASU 2016-9, "Compensation—Stock compensation (Topic 718)". Improvements to employee share-based payment accounting" which objective is the simplification through the identification, evaluation, and improvement of areas of generally accepted accounting principles (GAAP) for which cost and complexity can be reduced while maintaining or improving the usefulness of the information provided to users of financial statements. The areas for simplification involve several aspects of the accounting for share-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities, and classification on the statement of cash flows. Some of the areas for simplification apply only to nonpublic entities. We early adopted ASU 2016-09 during the fourth quarter of 2016 and prior periods were modified retrospectively. The adoption did not have a material impact on the Company's consolidated financial statements. The impact resulted in, among other items, a $0.1 million increase to net income and a $0.01 increase to earnings per share for the six months ended June 30, 2016 . The Company reflected these adjustments in our disclosures including the consolidated financial statements, earnings per common share, business combination and acquisitions, stock-based compensation, and income taxes. In March 2016, the FASB issued ASU No. 2016-08, “Revenue from Contracts with Customers (Topic 606): Principal versus Agent Considerations (Reporting Revenue Gross versus Net)”. The amendments in this update will clarify the implementation guidance on principal versus agent considerations. Topic 606 requires an entity to determine whether the nature of its promise is to provide that good or service to the customer (that is, the entity is a principal) or to arrange for the good or service to be provided to the customer by the other party (that is, the entity is an agent). This determination is based upon whether the entity controls the good or the service before it is transferred to the customer. Topic 606 includes indicators to assist in this evaluation. The effective date and transition requirements for the amendments in this update are the same as the effective date and transition requirements for Topic 606 (and any other Topic amended by update 2014-09 listed below), which is not yet effective. The Company is currently evaluating this ASU to determine the impact on its consolidated financial position, results of operations and cash flows. In March 2016, the FASB issued ASU 2016-7, "Investments—Equity Method and Joint Ventures (Topic 323)". The amendments in this update eliminate the requirement that when an investment qualifies for use of the equity method as a result of an increase in the level of ownership interest or degree of influence, an investor must adjust the investment, results of operations, and retained earnings retroactively on a step-by-step basis as if the equity method had been in effect during all previous periods that the investment had been held. The amendments require that the equity method investor add the cost of acquiring the additional interest in the investee to the current basis of the investor’s previously held interest and adopt the equity method of accounting as of the date the investment becomes qualified for equity method accounting. Therefore, upon qualifying for the equity method of accounting, no retroactive adjustment of the investment is required. The amendments in this update require that an entity that has an available-for-sale equity security that becomes qualified for the equity method of accounting recognize through earnings the unrealized holding gain or loss in accumulated other comprehensive income at the date the investment becomes qualified for use of the equity method. The amendments in this update are effective for all entities for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2016. The amendments should be applied prospectively upon their effective date to increases in the level of ownership interest or degree of influence that result in the adoption of the equity method. Earlier application is permitted. The adoption did not have a material impact on the Company's consolidated financial statements. In March 2016, the FASB issued ASU 2016-6, "Derivatives and Hedging (Topic 815): Contingent Put and Call Options in Debt Instruments". The amendments in this update clarify the requirements for assessing whether contingent call (put) options that can accelerate the payment of principal on debt instruments are clearly and closely related to their debt hosts. An entity performing the assessment under the amendments in this update is required to assess the embedded call (put) options solely in accordance with the four-step decision sequence. For public business entities, the amendments in this update are effective for financial statements issued for fiscal years beginning after December 15, 2016, and interim periods within those fiscal years. The adoption did not have a material impact on the Company's consolidated financial statements. In January 2016, the FASB issued ASU 2016-2, "Leases (Topic 842)" which increases transparency and comparability among organizations by recognizing lease assets and lease liabilities on the balance sheet and disclosing key information about leasing arrangements. To meet that objective, the FASB is amending the FASB Accounting Standards Codification and creating Topic 842, Leases. This update, along with IFRS 16, Leases, are the results of the FASB’s and the International Accounting Standards Board’s (IASB’s) efforts to meet that objective and improve financial reporting. The FASB and IASB decided to not fundamentally change lessor accounting with the amendments in this update. However, some changes have been made to lessor accounting to conform and align that guidance with the lessee guidance and other areas within generally accepted accounting principles (GAAP), such as Topic 606, Revenue from Contracts with Customers. The main difference between previous GAAP and Topic 842 is the recognition of lease assets and lease liabilities by lessees for those leases classified as operating leases under previous GAAP. For public business entities, the amendments in ASU 2016-2 are effective for fiscal years beginning after December 15, 2018. The Company is currently evaluating this ASU to determine the impact on its consolidated financial position, results of operations and cash flows. In January 2016, the FASB issued ASU 2016-1, "Financial instruments—Overall (Subtopic 825-10)" which requires all equity investments to be measured at fair value with changes in the fair value recognized through net income (other than those accounted for under equity method of accounting or those that result in consolidation of the investee). The amendments in this update also require an entity to present separately in other comprehensive income the portion of the total change in the fair value of a liability resulting from a change in the instrument-specific credit risk when the entity has elected to measure the liability at fair value in accordance with the fair value option for financial instruments. In addition, the amendments in this update eliminate the requirement to disclose the fair value of financial instruments measured at amortized cost for entities that are not public business entities and the requirement to disclose the method(s) and significant assumptions used to estimate the fair value that is required to be disclosed for financial instruments measured at amortized cost on the balance sheet for public business entities. For public business entities, the amendments in ASU 2016-1 are effective for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. The adoption of ASU 2016-1 is not expected to have a material impact on the Company's consolidated financial position, results of operations and cash flows. In May 2014, the FASB issued ASU 2014-9, "Revenue from Contracts with Customers (Topic 606)". The core principle of Topic 606 is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. To achieve that core principle, an entity should (1) identify the contract(s) with a customer, (2) identify the performance obligations in the contract, (3) determine the transaction price, (4) allocate the transaction price to the performance obligations in the contract, and (5) recognize revenue when (or as) the entity satisfies the performance obligation. In August 2015, the FASB issued ASU 2015-14, "Revenue from contracts with customers (Topic 606) - Deferral of the Effective Date". The amendments in ASU 2015-14 establish December 15, 2017 as the effective date of the information related to ASU 2014-09, “Revenue from Contracts with Customers (Topic 606)”. While we anticipate some changes, the Company does not expect a material change from our current accounting for revenue as the majority of our interest and non-interest income is not in scope of Topic 606. |
Earnings Per Common Share | Earnings Per Common Share Basic earnings per share is computed as net income attributable to common shareholders divided by the weighted average number of common shares outstanding during the period. Diluted earnings per share include the dilutive effect of additional potential common shares issuable under stock options and unvested restricted shares computed using the treasury stock method. |
Fair Value | FASB guidance on fair value measurements defines fair value, establishes a framework for measuring fair value, and requires fair value disclosures for certain assets and liabilities measured at fair value on a recurring and non-recurring basis. This guidance defines fair value as the exchange price that would be received for an asset or paid to transfer a liability in an orderly transaction between market participants in the principal or most advantageous market for the asset or liability. This guidance establishes a fair value hierarchy for disclosure of fair value measurements to maximize the use of observable inputs, that is, inputs that reflect the assumptions market participants would use in pricing an asset or liability based on market data obtained from sources independent of the reporting entity. The valuation hierarchy is based upon the transparency of inputs to the valuation of an asset or liability as of the measurement date. A financial instrument’s categorization within the valuation hierarchy is based upon the lowest level of input that is significant to the fair value measurement. Level 1: Quoted prices (unadjusted) for identical assets or liabilities in active markets that the entity can access as of the measurement date. Level 2: Significant other observable inputs other than Level 1 prices such as quoted prices for similar assets or liabilities in active markets; quoted prices for identical or similar assets or liabilities in markets that are not active; or other inputs that are observable or can be corroborated by observable market data. Level 3: Significant unobservable inputs that reflect a reporting entity’s own assumptions about the assumptions that market participants would use in pricing an asset or liability. Cash & cash equivalents Cash and cash equivalents include cash on hand and highly-liquid items with an original maturity of three months or less. Accordingly, the carrying amount of such instruments is considered to be a reasonable estimate of fair value. Derivative financial instruments Interest rate swaps are valued by a third party, using models that primarily use market observable inputs, such as yield curves, and are validated by comparison with valuations provided by the respective counterparties. The credit risk associated with derivative financial instruments that are subject to master netting agreements is measured on a net basis by counterparty portfolio. Forward loan sales agreements are based upon the amounts required to settle the contracts. Fair values for commitments to originate loans held for sale are based on fees currently charged to enter into similar agreements. Fair values for fixed-rate commitments consider the difference between current levels of interest rates and the committed rates. Valuation of Investment Securities The fair values of available-for-sale, held-to-maturity and trading securities are determined by: 1) obtaining quoted prices on nationally recognized securities exchanges when available (Level 1 inputs); 2) matrix pricing, which is a mathematical technique widely used in the financial markets to value debt securities without relying exclusively on quoted prices for the specific securities but rather by relying on the securities’ relationship to other benchmark quoted securities (Level 2 inputs); and 3) for certain other debt securities that are not actively traded, custom discounted cash flow modeling (Level 3 inputs). As of June 30, 2017 , the Bank held industrial revenue bonds, which are floating rate issues. Since there is no active secondary market for the trading of the bonds, the Company has developed a model to estimate fair value. This model determines an appropriate discount rate for the bonds based on current market rates for liquid corporate bonds with an equivalent credit rating plus an estimated illiquidity factor, and calculates the present value of expected future cash flows using this discount rate. Mortgage Loans Held for Sale Mortgage loans held for sale are carried at the lower of cost or estimated fair value. The fair values of mortgage loans held for sale are based on commitments on hand from investors within the secondary market for loans with similar characteristics. As such, the fair value adjustment for mortgage loans held for sale is classified as nonrecurring Level 2. Valuation of Impaired Loans and Other Real Estate Owned The fair value of collateral dependent impaired loans with specific allocations of the allowance for loan and lease losses and other real estate owned is generally based on recent real estate appraisals and other available observable market information. These appraisals may utilize a single valuation approach or a combination of approaches including comparable sales and the income approach. The Company generally uses independent external appraisers in this process who routinely make adjustments to adjust for differences between the comparable sales and income data available. Such adjustments are typically significant and result in a Level 3 classification of the inputs for determining fair value. The Company’s policy is to update appraisals, at a minimum, annually for classified assets, which include collateral dependent loans and OREO. The Company considers appraisals dated within the past 12 months to be current and do not typically make adjustments to such appraisals. In the Company’s process for reviewing third-party prepared appraisals, any differences of opinion on values, assumptions or adjustments to comparable sales data are typically reconciled directly with the independent appraiser prior to acceptance of the final appraisal. Valuation of Premises and Equipment held for sale Premises and equipment held for sale are carried at the lower of cost or estimated fair value. The fair values of premises and equipment held for sale are based on recent real estate appraisals and other available observable market information. Mortgage Servicing Rights As of June 30, 2017 , the fair value of the Company's Level 3 mortgage servicing rights (“MSR”) was $2.5 million , none of which are currently impaired and therefore are carried at amortized cost. The assumptions used include the fee per loan, the cost to service, the expected loan prepayment rate, and the discount rate. In determining the fair value of the existing MSR, the Company reviews the key assumptions, analyzes pricing in the market for comparable MSR, and uses a third party provider to independently calculate the fair value of its MSR. Sensitivity to Changes in Significant Unobservable Inputs As discussed above, as of June 30, 2017 , the Company owns industrial revenue bonds, which require recurring fair value estimates categorized within Level 3 of the fair value hierarchy. The significant unobservable inputs used in the fair value measurement of these securities are incorporated in the discounted cash flow modeling valuation. Rates utilized in the modeling of these securities are estimated based upon a variety of factors including the market yields of other non-investment grade corporate debt. Significant changes in any inputs in isolation would result in significantly different fair value estimates. The methods and assumptions used to estimate fair value are described as follows: Carrying amount is the estimated fair value for cash and cash equivalents, derivatives, noncontractual demand deposits and certain short-term borrowings. As it is not practicable to determine the fair value of Federal Home Loan Bank stock due to restrictions placed on transferability, the estimated fair value is equal to their carrying amount. Security fair values are based on market prices or dealer quotes and, if no such information is available, on the rate and term of the security and information about the issuer including estimates of discounted cash flows when necessary. For fixed rate loans or contractual deposits and for variable rate loans or deposits with infrequent repricing or repricing limits, fair value is based on discounted cash flows using current market rates applied to the estimated life, adjusted for the allowance for loan and lease losses. Fair values for impaired loans are estimated using discounted cash flow analysis or underlying collateral values. Fair value of loans does not necessarily represent exit price. Fair value of long-term debt is based on current rates for similar financing. The fair value of off-balance sheet items that include commitments to extend credit to fund commercial, consumer, real estate construction and real estate-mortgage loans and to fund standby letters of credit is considered nominal. |
Earnings Per Common Share (Tabl
Earnings Per Common Share (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Earnings Per Share [Abstract] | |
Computation of Earnings Per Share | Earnings per share have been computed based on the following: (Shares in thousands) Three Months Ended Six Months Ended June 30, 2017 June 30, 2016 June 30, 2017 June 30, 2016 Weighted average number of shares outstanding: Basic 51,683 43,011 51,659 43,036 Dilutive effect of options outstanding 1,478 1,041 1,501 1,030 Dilutive effect of unvested restricted shares 65 16 54 8 Diluted 53,226 44,068 53,214 44,074 |
Weighted Average Anti-Dilutive Stock Options and Unvested Restricted Shares Excluded from the Computation of Diluted Earnings Per Share | Weighted average anti-dilutive stock options and unvested restricted shares excluded from the computation of diluted earnings per share are as follows: (Shares in thousands) Three Months Ended Six Months Ended June 30, 2017 June 30, 2016 June 30, 2017 June 30, 2016 Anti-dilutive stock options — 38 3 38 Anti-dilutive unvested restricted shares — 3 14 2 |
Business Combinations and Acq25
Business Combinations and Acquisitions (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Business Combinations [Abstract] | |
Fair Value of Assets and Liabilities | The following table summarizes the fair value of loans, the total contractual principal and interest payments, and management's estimate of expected total cash payments of purchase credit impaired loans: (Dollars in thousands) Fair Value of Acquired Loans Gross Contractual Amounts Receivable Best Estimate of Contractual Cash Flows not to be Collected Loans acquired subject to ASC 310-30 $ 129,075 $ 182,927 $ 34,219 The following table summarizes the Company's investment and CommunityOne's opening balance sheet as of October 26, 2016 adjusted to their preliminary fair value: (Dollars in thousands) Fair value of assets acquired: October 26, 2016 Cash and cash equivalents $ 58,308 Investment securities 488,814 Loans 1,497,785 Premises and equipment 46,763 Goodwill 103,443 Other intangible assets 22,518 Deferred tax asset 60,695 Other assets 82,716 Total assets acquired 2,361,042 Fair value of liabilities assumed: Deposits 1,892,443 Long term debt and other borrowings 105,720 Other liabilities 22,345 Total liabilities assumed 2,020,508 Net assets acquired $ 340,534 |
Pro-forma Financial Information | Pro-forma data for the six months ended and June 30, 2016 listed in the table below presents pro-forma information as if the CommunityOne acquisition occurred at the beginning of 2016. The results include $3.9 million of transaction and integration expense incurred during the six months ended June 30, 2016 . The pro-forma financial information is not necessarily indicative of the results of operations that would have occurred had the transactions been effected on the assumed dates. (Dollars and shares in thousands, except per share data) For the six months ended June 30, 2016 Net interest income $ 156,905 Net income $ 33,958 Basic earnings per share $ 0.65 Diluted earnings per share $ 0.64 |
Investment Securities (Tables)
Investment Securities (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Investments, Debt and Equity Securities [Abstract] | |
Amortized Cost and Estimated Fair Value of Investment Securities Available for Sale and Held to Maturity | The amortized cost and estimated fair value of investment securities available-for-sale and held-to-maturity at June 30, 2017 and December 31, 2016 , are presented below: (Dollars in thousands) June 30, 2017 Amortized Unrealized Unrealized Estimated Available-for-Sale Corporate bonds $ 59,947 $ 3,674 $ — $ 63,621 State and political subdivisions—tax exempt 11,864 — 487 11,377 Mortgage-backed securities—residential issued by government sponsored entities 1,077,733 2,456 12,612 1,067,577 Industrial revenue bonds 3,069 68 — 3,137 Total $ 1,152,613 $ 6,198 $ 13,099 $ 1,145,712 Held-to-Maturity U.S. Government agencies $ 10,292 $ 114 $ — $ 10,406 Corporate bonds 94,006 780 739 94,047 State and political subdivisions—tax exempt 8,190 657 — 8,847 State and political subdivisions—taxable 516 12 — 528 Mortgage-backed securities—residential issued by government sponsored entities 317,407 1,635 1,601 317,441 Total $ 430,411 $ 3,198 $ 2,340 $ 431,269 (Dollars in thousands) December 31, 2016 Amortized Cost Unrealized Gains Unrealized Losses Estimated Fair Value Available-for-Sale Corporate bonds $ 28,354 $ 786 $ 187 $ 28,953 State and political subdivisions—tax exempt 11,871 — 794 11,077 Mortgage-backed securities—residential issued by government sponsored entities 883,802 1,644 16,524 868,922 Industrial revenue bonds 3,239 59 — 3,298 Total $ 927,266 $ 2,489 $ 17,505 $ 912,250 Held-to-Maturity U.S. Government agencies $ 11,234 $ 77 $ — $ 11,311 Corporate bonds 94,010 279 2,301 91,988 State and political subdivisions—tax exempt 8,069 389 — 8,458 State and political subdivisions—taxable 520 13 — 533 Mortgage-backed securities—residential issued by government sponsored entities 350,126 1,081 2,586 348,621 Total $ 463,959 $ 1,839 $ 4,887 $ 460,911 |
Estimated Fair Value of Investment Securities Available for Sale and Held to Maturity by Contractual Maturity | The estimated fair value of investment securities at June 30, 2017 , by contractual maturity, is shown in the table that follows. Expected maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations without call or prepayment penalties. Debt securities not due at a single maturity date are shown separately. (Dollars in thousands) June 30, 2017 Amortized Estimated Yield Available-for-Sale Due in one year or less $ — $ — — % Due after one year through five years — — — % Due after five years through ten years 46,751 49,340 3.28 % Due after ten years 28,129 28,795 2.71 % Mortgage-backed securities—residential issued by government sponsored entities 1,077,733 1,067,577 2.28 % Total $ 1,152,613 $ 1,145,712 2.33 % Amortized Estimated Yield Held-to-Maturity Due in one year or less $ 696 $ 698 1.72 % Due after one year through five years 59,776 59,736 4.90 % Due after five years through ten years 42,240 42,987 5.03 % Due after ten years 10,292 10,407 2.81 % Mortgage-backed securities—residential issued by government sponsored entities 317,407 317,441 2.38 % Total $ 430,411 $ 431,269 3.00 % |
Securities with Unrealized Losses Not Recognized in Income | Securities with unrealized losses not recognized in income, and the period of time they have been in an unrealized loss position, are as follows: (Dollars in thousands) Less than 12 Months 12 Months or Longer Total June 30, 2017 Estimated Unrealized Estimated Unrealized Estimated Unrealized Available-for-Sale State and political subdivisions—tax exempt $ 11,377 $ 487 $ — $ — $ 11,377 $ 487 Mortgage-backed securities—residential issued by government sponsored entities 695,840 12,051 19,230 561 715,070 12,612 Total $ 707,217 $ 12,538 $ 19,230 $ 561 $ 726,447 $ 13,099 Held-to-Maturity U.S. government agencies $ 10,406 $ 309 $ — $ — $ 10,406 $ 309 Corporate bonds 14,931 68 29,363 671 44,294 739 Mortgage-backed securities—residential issued by government sponsored entities 234,408 4,509 7,616 284 242,024 4,793 Total $ 259,745 $ 4,886 $ 36,979 $ 955 $ 296,724 $ 5,841 (Dollars in thousands) Less than 12 Months 12 Months or Longer Total December 31, 2016 Estimated Fair Value Unrealized Losses Estimated Fair Value Unrealized Losses Estimated Fair Value Unrealized Losses Available-for-Sale Corporate bonds $ — $ — $ 8,412 $ 187 $ 8,412 $ 187 State and political subdivisions - tax exempt 11,077 794 — — 11,077 794 Mortgage-backed securities—residential issued by government sponsored entities 672,672 16,524 — — 672,672 16,524 Total $ 683,749 $ 17,318 $ 8,412 $ 187 $ 692,161 $ 17,505 Held-to-Maturity U.S Government agencies $ 11,311 $ 402 $ — $ — $ 11,311 $ 402 Corporate bonds 24,629 371 28,112 1,930 52,741 2,301 Mortgage-backed securities—residential issued by government sponsored entities 276,555 6,614 8,494 332 285,049 6,946 Total $ 312,495 $ 7,387 $ 36,606 $ 2,262 $ 349,101 $ 9,649 |
Loans (Tables)
Loans (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Receivables [Abstract] | |
Major Classifications of Loans | Major classifications of loans, including loans held for sale, are as follows: (Dollars in thousands) June 30, 2017 December 31, 2016 Non-owner occupied commercial real estate $ 1,265,576 $ 1,130,883 Other commercial construction and land 384,581 327,622 Multifamily commercial real estate 147,365 117,515 1-4 family residential construction and land 153,761 140,030 Total commercial real estate 1,951,283 1,716,050 Owner occupied commercial real estate 1,287,811 1,321,405 Commercial and industrial 1,424,862 1,468,874 Total commercial 2,712,673 2,790,279 1-4 family residential 1,782,799 1,714,702 Home equity loans 489,497 507,759 Other consumer loans 395,807 448,972 Total consumer 2,668,103 2,671,433 Other 238,055 228,430 Total loans $ 7,570,114 $ 7,406,192 |
Roll Forward of Accretable Yield | The table below presents a roll forward of accretable yield and income expected to be earned related to PCI loans. The accretable yield represents the excess of estimated cash flows expected to be collected over the carrying amount of the PCI loans. Nonaccretable difference represents estimated contractually required payments in excess of estimated cash flows expected to be collected. Other represents reductions of accretable yield due to non-credit events such as prepayment activity on PCI loans. (Dollars in thousands) Three Months Ended Six Months Ended June 30, 2017 June 30, 2016 June 30, 2017 June 30, 2016 Accretable Yield Balance at beginning of period $ 152,654 $ 195,065 $ 161,639 $ 208,844 Accretion of income (18,616 ) (19,923 ) (37,399 ) (40,766 ) Reclassification from nonaccretable difference 15,941 6,686 32,298 21,623 Other (4,560 ) (10,893 ) (11,119 ) (18,766 ) Balance at end of period $ 145,419 $ 170,935 $ 145,419 $ 170,935 |
Major Categories of Loans | The following is a summary of the major categories of loans outstanding as of June 30, 2017 and December 31, 2016 : (Dollars in thousands) Non-PCI Loans June 30, 2017 New Acquired PCI Loans Total Non-owner occupied commercial real estate $ 837,572 $ 211,400 $ 216,604 $ 1,265,576 Other commercial construction and land 252,458 76,439 55,684 384,581 Multifamily commercial real estate 115,308 15,749 16,308 147,365 1-4 family residential construction and land 136,776 16,555 430 153,761 Total commercial real estate 1,342,114 320,143 289,026 1,951,283 Owner occupied commercial real estate 907,374 222,145 158,292 1,287,811 Commercial and industrial loans 1,274,742 76,769 73,351 1,424,862 Total commercial 2,182,116 298,914 231,643 2,712,673 1-4 family residential 1,108,685 484,161 189,953 1,782,799 Home equity loans 181,931 247,238 60,328 489,497 Other consumer loans 297,963 72,688 25,156 395,807 Total consumer 1,588,579 804,087 275,437 2,668,103 Other 203,175 7,387 27,493 238,055 Total loans $ 5,315,984 $ 1,430,531 $ 823,599 $ 7,570,114 (Dollars in thousands) Non-PCI Loans December 31, 2016 New Acquired PCI Loans Total Loans Non-owner occupied commercial real estate $ 680,044 $ 221,304 $ 229,535 $ 1,130,883 Other commercial construction and land 182,486 73,248 71,888 327,622 Multifamily commercial real estate 77,694 19,108 20,713 117,515 1-4 family residential construction and land 105,816 33,831 383 140,030 Total commercial real estate 1,046,040 347,491 322,519 1,716,050 Owner occupied commercial real estate 901,957 239,982 179,466 1,321,405 Commercial and industrial loans 1,283,012 96,494 89,368 1,468,874 Total commercial 2,184,969 336,476 268,834 2,790,279 1-4 family residential 994,323 505,420 214,959 1,714,702 Home equity loans 172,883 268,093 66,783 507,759 Other consumer loans 330,423 88,134 30,415 448,972 Total consumer 1,497,629 861,647 312,157 2,671,433 Other 185,839 9,776 32,815 228,430 Total loans $ 4,914,477 $ 1,555,390 $ 936,325 $ 7,406,192 |
Aging of the Recorded Investment in Past Due Loans, Based on Contractual Terms | The following tables present the aging of the recorded investment in past due loans, based on contractual terms, as of June 30, 2017 : (Dollars in thousands) 30-89 Days Past Due Greater than 90 Days Past Due Non-accrual Total Non-purchased credit impaired loans Non-owner occupied commercial real estate $ — $ — $ 2,255 $ 2,255 Other commercial construction and land 55 — 53 108 Multifamily commercial real estate — — — — 1-4 family residential construction and land — — — — Total commercial real estate 55 — 2,308 2,363 Owner occupied commercial real estate 40 — 4,367 4,407 Commercial and industrial loans 101 — 784 885 Total commercial 141 — 5,151 5,292 1-4 family residential 762 — 1,557 2,319 Home equity loans 2,089 — 2,186 4,275 Other consumer loans 5,915 — 2,619 8,534 Total consumer 8,766 — 6,362 15,128 Other — — — — Total loans $ 8,962 $ — $ 13,821 $ 22,783 (Dollars in thousands) 30-89 Days Past Due Greater than 90 Days Past Due Non-accrual Total Purchased credit impaired loans (1) Non-owner occupied commercial real estate $ 2,360 $ 333 $ — $ 2,693 Other commercial construction and land 348 880 — 1,228 Multifamily commercial real estate — 139 — 139 1-4 family residential construction and land — — — — Total commercial real estate 2,708 1,352 — 4,060 Owner occupied commercial real estate 1,250 3,150 — 4,400 Commercial and industrial loans 2 555 — 557 Total commercial 1,252 3,705 — 4,957 1-4 family residential 1,878 2,233 — 4,111 Home equity loans 993 786 — 1,779 Other consumer loans 2,521 1,489 — 4,010 Total consumer 5,392 4,508 — 9,900 Other — 724 — 724 Total loans $ 9,352 $ 10,289 $ — $ 19,641 The following tables present the aging of the recorded investment in past due loans, based on contractual terms, as of December 31, 2016 : (Dollars in thousands) 30-89 Days Past Due Greater than 90 Days Past Due and Still Accruing/Accreting Non-accrual Total Non-purchased credit impaired loans Non-owner occupied commercial real estate $ — $ — $ 2,584 $ 2,584 Other commercial construction and land 23 — 204 227 Multifamily commercial real estate — — — — 1-4 family residential construction and land 148 — — 148 Total commercial real estate 171 — 2,788 2,959 Owner occupied commercial real estate 2,633 — 2,950 5,583 Commercial and industrial loans 169 — 698 867 Total commercial 2,802 — 3,648 6,450 1-4 family residential 493 — 1,048 1,541 Home equity loans 1,336 — 1,568 2,904 Other consumer loans 8,143 — 2,397 10,540 Total consumer 9,972 — 5,013 14,985 Other — — — — Total loans $ 12,945 $ — $ 11,449 $ 24,394 (Dollars in thousands) 30-89 Days Past Due Greater than 90 Days Past Due and Still Accruing/Accreting Non-accrual Total Purchased credit impaired loans (1) Non-owner occupied commercial real estate $ — $ 1,130 $ — $ 1,130 Other commercial construction and land 550 777 — 1,327 Multifamily commercial real estate — 420 — 420 1-4 family residential construction and land — — — — Total commercial real estate 550 2,327 — 2,877 Owner occupied commercial real estate 1,844 3,776 — 5,620 Commercial and industrial loans 592 509 — 1,101 Total commercial 2,436 4,285 — 6,721 1-4 family residential 4,288 6,060 — 10,348 Home equity loans 1,128 1,470 — 2,598 Other consumer loans 2,558 1,048 — 3,606 Total consumer 7,974 8,578 — 16,552 Other 87 716 — 803 Total loans $ 11,047 $ 15,906 $ — $ 26,953 (1) Pooled PCI loans are not classified as nonaccrual as they are considered to be accruing because their interest income relates to the accretable yield recognized under accounting for purchased credit-impaired loans and not to contractual interest payments. |
Loans, Excluding Purchased Credit-Impaired Loans by Internal Ratings | The following table summarizes loans, excluding PCI loans, by internal rating at June 30, 2017 : Substandard (Dollars in thousands) Pass Special Mention Accruing Non-accrual Doubtful Total Non-owner occupied commercial real estate $ 1,044,423 $ 2,294 $ — $ 2,255 $ — $ 1,048,972 Other commercial construction and land 328,844 — — 53 — 328,897 Multifamily commercial real estate 130,861 — 196 — — 131,057 1-4 family residential construction and land 153,331 — — — — 153,331 Total commercial real estate 1,657,459 2,294 196 2,308 — 1,662,257 Owner occupied commercial real estate 1,094,739 27,128 3,285 4,367 — 1,129,519 Commercial and industrial loans 1,334,082 1,447 15,198 784 — 1,351,511 Total commercial 2,428,821 28,575 18,483 5,151 — 2,481,030 1-4 family residential 1,587,587 1,586 2,116 1,557 — 1,592,846 Home equity loans 425,468 256 1,259 2,186 — 429,169 Other consumer loans 367,971 — 61 2,619 — 370,651 Total consumer 2,381,026 1,842 3,436 6,362 — 2,392,666 Other 210,562 — — — — 210,562 Total loans $ 6,677,868 $ 32,711 $ 22,115 $ 13,821 $ — $ 6,746,515 The following table summarizes loans, excluding PCI loans, by internal rating at December 31, 2016 : Substandard (Dollars in thousands) Pass Special Mention Accruing Non-accrual Doubtful Total Non-owner occupied commercial real estate $ 896,394 $ 1,251 $ 1,119 $ 2,584 $ — $ 901,348 Other commercial construction and land 255,530 — — 204 — 255,734 Multifamily commercial real estate 96,802 — — — — 96,802 1-4 family residential construction and land 139,647 — — — — 139,647 Total commercial real estate 1,388,373 1,251 1,119 2,788 — 1,393,531 Owner occupied commercial real estate 1,124,285 10,210 4,494 2,950 — 1,141,939 Commercial and industrial loans 1,351,581 16,709 10,518 698 — 1,379,506 Total commercial 2,475,866 26,919 15,012 3,648 — 2,521,445 1-4 family residential 1,495,653 899 2,143 1,048 — 1,499,743 Home equity loans 437,880 62 1,466 1,568 — 440,976 Other consumer loans 416,117 — 43 2,397 — 418,557 Total consumer 2,349,650 961 3,652 5,013 — 2,359,276 Other 195,615 — — — — 195,615 Total loans $ 6,409,504 $ 29,131 $ 19,783 $ 11,449 $ — $ 6,469,867 |
Allowance for Loan and Lease 28
Allowance for Loan and Lease Losses (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Receivables [Abstract] | |
Allowance for Loan and Lease Losses | Activity in the allowance for loan and lease losses for the three and six months ended June 30, 2017 and 2016 is as follows: (Dollars in thousands) Three Months Ended Six Months Ended June 30, 2017 June 30, 2016 June 30, 2017 June 30, 2016 Balance, beginning of period $ 43,891 $ 45,263 $ 43,065 $ 45,034 Provision (reversal) for loan losses for PCI loans 818 (778 ) 1,004 (787 ) Provision for loan losses for non-PCI loans 1,485 1,950 4,691 3,334 Non-PCI loans charged-off (2,502 ) (2,316 ) (5,685 ) (4,140 ) Recoveries of non-PCI loans previously charged-off 946 764 1,563 1,442 Balance, end of period $ 44,638 $ 44,883 $ 44,638 $ 44,883 |
Roll Forward of Allowance for Loan and Lease Losses | The following tables present the roll forward of the allowance for loan and lease losses for the three and six months ended June 30, 2017 by the class of loans against which the allowance is allocated: (Dollars in thousands) March 31, 2017 Provision/ Net (Charge-offs)/ June 30, 2017 Non-owner occupied commercial real estate $ 1,241 $ 8 $ 3 $ 1,252 Other commercial construction and land 13,668 (2,260 ) 107 11,515 Multifamily commercial real estate 171 22 — 193 1-4 family residential construction and land 741 (152 ) 2 591 Total commercial real estate 15,821 (2,382 ) 112 13,551 Owner occupied commercial real estate 1,486 (197 ) 35 1,324 Commercial and industrial loans 8,918 620 32 9,570 Total commercial 10,404 423 67 10,894 1-4 family residential 8,880 488 48 9,416 Home equity loans 1,079 159 (41 ) 1,197 Other consumer loans 7,410 3,240 (1,428 ) 9,222 Total consumer 17,369 3,887 (1,421 ) 19,835 Other 297 375 (314 ) 358 Total loans $ 43,891 $ 2,303 $ (1,556 ) $ 44,638 (Dollars in thousands) December 31, 2016 Provision/ Net (Charge-offs)/ June 30, 2017 Non-owner occupied commercial real estate $ 1,989 $ (741 ) $ 4 $ 1,252 Other commercial construction and land 12,692 (1,286 ) 109 11,515 Multifamily commercial real estate 171 22 — 193 1-4 family residential construction and land 666 (79 ) 4 591 Total commercial real estate 15,518 (2,084 ) 117 13,551 Owner occupied commercial real estate 1,397 (110 ) 37 1,324 Commercial and industrial loans 9,509 243 (182 ) 9,570 Total commercial 10,906 133 (145 ) 10,894 1-4 family residential 9,188 180 48 9,416 Home equity loans 1,214 (20 ) 3 1,197 Other consumer loans 5,890 6,828 (3,496 ) 9,222 Total consumer 16,292 6,988 (3,445 ) 19,835 Other 349 658 (649 ) 358 Total loans $ 43,065 $ 5,695 $ (4,122 ) $ 44,638 The following tables present the roll forward of the allowance for loan and lease losses for the three and six months ended June 30, 2016 by the class of loans against which the allowance is allocated: (Dollars in thousands) March 31, 2016 Provision/ Net(Charge-offs)/ June 30, 2016 Non-owner occupied commercial real estate $ 1,671 $ 366 $ 2 $ 2,039 Other commercial construction and land 13,196 (445 ) 6 12,757 Multifamily commercial real estate 182 (29 ) — 153 1-4 family residential construction and land 1,285 (329 ) 2 958 Total commercial real estate 16,334 (437 ) 10 15,907 Owner occupied commercial real estate 1,687 (128 ) — 1,559 Commercial and industrial loans 10,129 1,153 (482 ) 10,800 Total commercial 11,816 1,025 (482 ) 12,359 1-4 family residential 10,374 (585 ) 175 9,964 Home equity loans 1,595 (223 ) (11 ) 1,361 Other consumer loans 4,842 1,161 (1,015 ) 4,988 Total consumer 16,811 353 (851 ) 16,313 Other 302 231 (229 ) 304 Total loans $ 45,263 $ 1,172 $ (1,552 ) $ 44,883 (Dollars in thousands) December 31, 2015 Provision/ Net(Charge-offs)/ June 30, 2016 Non-owner occupied commercial real estate $ 1,598 $ 432 $ 9 $ 2,039 Other commercial construction and land 12,919 (171 ) 9 12,757 Multifamily commercial real estate 186 (33 ) — 153 1-4 family residential construction and land 1,275 (320 ) 3 958 Total commercial real estate 15,978 (92 ) 21 15,907 Owner occupied commercial real estate 1,505 134 (80 ) 1,559 Commercial and industrial loans 9,627 1,618 (445 ) 10,800 Total commercial 11,132 1,752 (525 ) 12,359 1-4 family residential 11,057 (1,273 ) 180 9,964 Home equity loans 1,853 (593 ) 101 1,361 Other consumer loans 4,751 2,152 (1,915 ) 4,988 Total consumer 17,661 286 (1,634 ) 16,313 Other 263 601 (560 ) 304 Total loans $ 45,034 $ 2,547 $ (2,698 ) $ 44,883 |
Roll forward of Allowance for Loan and Lease Losses for PCI and Non-PCI Loans | The following tables present the roll forward of the allowance for loan and lease losses for PCI and non-PCI loans for the three and six months ended June 30, 2017 and 2016 , by the class of loans against which the allowance is allocated: (Dollars in thousands) Three Months Ended June 30, 2017 June 30, 2016 Non-PCI PCI Total Non-PCI PCI Total Allowance for loan and lease losses at the beginning of the period $ 20,690 $ 23,201 $ 43,891 $ 20,784 $ 24,479 $ 45,263 Charge-offs: Non-owner occupied commercial real estate — — — (1 ) — (1 ) Other commercial construction and land (7 ) — (7 ) — — — Multifamily commercial real estate — — — — — — 1-4 family residential construction and land — — — — — — Total commercial real estate (7 ) — (7 ) (1 ) — (1 ) Owner occupied commercial real estate — — — — — — Commercial and industrial loans (12 ) — (12 ) (503 ) — (503 ) Total commercial (12 ) — (12 ) (503 ) — (503 ) 1-4 family residential — — — — — — Home equity loans (117 ) — (117 ) (113 ) — (113 ) Other consumer loans (1,873 ) — (1,873 ) (1,211 ) — (1,211 ) Total consumer (1,990 ) — (1,990 ) (1,324 ) — (1,324 ) Other (493 ) — (493 ) (488 ) — (488 ) Total charge-offs (2,502 ) — (2,502 ) (2,316 ) — (2,316 ) Recoveries: Non-owner occupied commercial real estate 3 — 3 3 — 3 Other commercial construction and land 114 — 114 6 — 6 Multifamily commercial real estate — — — — — — 1-4 family residential construction and land 2 — 2 2 — 2 Total commercial real estate 119 — 119 11 — 11 Owner occupied commercial real estate 35 — 35 — — — Commercial and industrial loans 44 — 44 21 — 21 Total commercial 79 — 79 21 — 21 1-4 family residential 48 — 48 175 — 175 Home equity loans 76 — 76 102 — 102 Other consumer loans 445 — 445 196 — 196 Total consumer 569 — 569 473 — 473 Other 179 — 179 259 — 259 Total recoveries 946 — 946 764 — 764 Net charge-offs (1,556 ) — (1,556 ) (1,552 ) — (1,552 ) Provision (reversal) for loan and lease losses: Non-owner occupied commercial real estate (95 ) 103 8 (176 ) 542 366 Other commercial construction and land (52 ) (2,208 ) (2,260 ) 186 (631 ) (445 ) Multifamily commercial real estate 13 9 22 (8 ) (21 ) (29 ) 1-4 family residential construction and land (152 ) — (152 ) 45 (374 ) (329 ) Total commercial real estate (286 ) (2,096 ) (2,382 ) 47 (484 ) (437 ) Owner occupied commercial real estate (227 ) 30 (197 ) (100 ) (28 ) (128 ) Commercial and industrial loans 166 454 620 680 473 1,153 Total commercial (61 ) 484 423 580 445 1,025 1-4 family residential (173 ) 661 488 (185 ) (400 ) (585 ) Home equity loans (2 ) 161 159 71 (294 ) (223 ) Other consumer loans 1,688 1,552 3,240 1,183 (22 ) 1,161 Total consumer 1,513 2,374 3,887 1,069 (716 ) 353 Other 319 56 375 254 (23 ) 231 Total provision (reversal) for loan and lease losses 1,485 818 2,303 1,950 (778 ) 1,172 Allowance for loan and lease losses at the end of the period $ 20,619 $ 24,019 $ 44,638 $ 21,182 $ 23,701 $ 44,883 |
Summary of Allowance for Loan and Lease Losses and Recorded Investment in Loans by Class of Loans and by Impairment Evaluation | The following table presents the balance in the allowance for loan and lease losses and the recorded investment in loans by class of loan and by impairment evaluation method as of June 30, 2017 : (Dollars in thousands) Allowance for Loan and Lease Losses Loans Individually Collectively Purchased Individually Collectively (1) Purchased Non-owner occupied commercial real estate $ — $ 897 $ 355 $ 2,764 $ 1,046,208 $ 216,604 Other commercial construction and land 21 1,584 9,910 120 328,777 55,684 Multifamily commercial real estate — 88 105 — 131,057 16,308 1-4 family residential construction and land — 591 — — 153,331 430 Total commercial real estate 21 3,160 10,370 2,884 1,659,373 289,026 Owner occupied commercial real estate 1 1,097 226 8,591 1,120,928 158,292 Commercial and industrial loans 400 5,426 3,744 13,532 1,337,979 73,351 Total commercial 401 6,523 3,970 22,123 2,458,907 231,643 1-4 family residential 121 1,929 7,366 2,626 1,586,687 189,953 Home equity loans 122 502 573 1,921 427,248 60,328 Other consumer loans 9 7,542 1,671 386 370,265 25,156 Total consumer 252 9,973 9,610 4,933 2,384,200 275,437 Other — 289 69 — 210,562 27,493 Total loans $ 674 $ 19,945 $ 24,019 $ 29,940 $ 6,713,042 $ 823,599 (1) Loans collectively evaluated for impairment include $1.3 billion of acquired loans which are presented net of unamortized purchase discounts of $17.0 million . The following table presents the balance in the allowance for loan and lease losses and the recorded investment in loans by class of loan and by impairment evaluation method as of December 31, 2016 : (Dollars in thousands) Allowance for Loan and Lease Losses Loans Individually Evaluated for Impairment Collectively Evaluated for Impairment Purchased Credit- Impaired Individually Evaluated for Impairment Collectively Evaluated for Impairment (1) Purchased Credit- Impaired Non-owner occupied commercial real estate $ — $ 959 $ 1,030 $ 2,835 $ 898,513 $ 229,535 Other commercial construction and land 20 1,678 10,994 109 255,625 71,888 Multifamily commercial real estate — 49 122 — 96,802 20,713 1-4 family residential construction and land — 666 — — 139,647 383 Total commercial real estate 20 3,352 12,146 2,944 1,390,587 322,519 Owner occupied commercial real estate 1 1,141 255 8,858 1,133,081 179,466 Commercial and industrial loans 6 6,524 2,979 9,548 1,369,958 89,368 Total commercial 7 7,665 3,234 18,406 2,503,039 268,834 1-4 family residential 121 2,136 6,931 1,963 1,484,906 214,959 Home equity loans 113 523 578 1,392 439,584 66,783 Other consumer loans 13 5,797 80 452 418,105 30,415 Total consumer 247 8,456 7,589 3,807 2,342,595 312,157 Other — 303 46 — 195,615 32,815 Total loans $ 274 $ 19,776 $ 23,015 $ 25,157 $ 6,431,836 $ 936,325 (1) Loans collectively evaluated for impairment include $1.6 billion of acquired loans which are presented net of unamortized purchase discounts of $20.0 million . |
Other Real Estate Owned (Tables
Other Real Estate Owned (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Banking and Thrift [Abstract] | |
Other Real Estate Owned | The activity within Other Real Estate Owned (“OREO”) for the three and six months ended June 30, 2017 and 2016 is presented in the table below. For the three and six months ended June 30, 2017 , proceeds on sales of OREO were $10.7 million and $15.6 million , respectively and net gains were $0.2 million and $0.5 million , respectively. For the three and six months ended June 30, 2016, proceeds on sales of OREO were $4.7 million and $11.8 million , respectively and net gains were $0.4 million and $1.1 million . respectively. (Dollars in thousands) Three Months Ended Six Months Ended June 30, 2017 June 30, 2016 June 30, 2017 June 30, 2016 Balance, beginning of period $ 51,050 $ 48,505 $ 53,482 $ 52,776 Real estate acquired from borrowers and transfers from other assets 1,036 1,184 3,463 3,772 Valuation allowance (262 ) (1,119 ) (509 ) (1,586 ) Properties sold (10,460 ) (4,334 ) (15,072 ) (10,726 ) Balance, end of period $ 41,364 $ 44,236 $ 41,364 $ 44,236 |
Federal Home Loan Bank Advanc30
Federal Home Loan Bank Advances and Short-Term Borrowings (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Advances from Federal Home Loan Banks [Abstract] | |
Federal Home Loan Bank Advances | The FHLB advances as of June 30, 2017 and December 31, 2016 consisted of the following: (Dollars in thousands) Contractual Outstanding Amount June 30, 2017 Maturity Date Interest Rate as of June 30, 2017 191 November 6, 2017 0.50% 50,000 November 20, 2017 1.18% (1 Month FRC + 2 bps)* 30,000 May 21, 2018 1.32% 50,000 November 23, 2018 1.18% (1 Month FRC + 2 bps)* 50,000 December 31, 2019 1.16% (1 Month FRC + 2 bps)* 60,000 May 28, 2020 1.19% (1 Month FRC + 2 bps)* 80,000 September 20, 2021 1.24% (1 Month FRC + 8 bps)* 75,000 September 29, 2021 1.23% (1 Month FRC + 8 bps)* 75,000 January 20, 2022 1.24% (1 Month FRC + 8 bps)* 409 February 10, 2026 —% $ 470,600 (*) FRC = FHLB Fixed Rate Credit interest rate. (Dollars in thousands) Contractual Outstanding Amount December 31, 2016 Maturity Date Interest Rate as of December 31, 2016 $ 25,000 January 20, 2017 0.63% 155,000 May 19, 2017 0.80% 271 November 6, 2017 0.50% 50,000 November 20, 2017 0.65% (1 Month FRC + 2 bps)* 50,000 November 23, 2018 0.66% (1 Month FRC + 2 bps)* 50,000 December 31, 2019 0.64% (1 Month FRC + 2 bps)* 60,000 May 28, 2020 0.63% (1 Month FRC + 2 bps)* 80,000 September 20, 2021 0.71% (1 Month FRC + 8 bps)* 75,000 September 29, 2021 0.71% (1 Month FRC + 8 bps)* 430 February 10, 2026 —% $ 545,701 (*) FRC = FHLB Fixed Rate Credit interest rate. |
Long-Term Borrowings (Tables)
Long-Term Borrowings (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Debt Disclosure [Abstract] | |
Subordinated Debentures | The subordinated debentures as of June 30, 2017 and December 31, 2016 consisted of the following: (Dollars in thousands) Carrying Amount Date of Offering Face Amount June 30, 2017 December 31, 2016 Interest Rate as of June 30, 2017 Maturity Date July 31, 2001 $ 5,000 $ 4,049 $ 4,018 4.75 % (3 Month LIBOR + 358 bps) July 31, 2031 July 31, 2001 4,000 2,865 2,831 4.75 % (3 Month LIBOR + 358 bps) July 31, 2031 December 20, 2002 5,000 3,579 3,544 4.50 % (3 Month LIBOR + 335 bps) December 30, 2032 June 26, 2003 10,000 6,289 6,231 4.40 % (3 Month LIBOR + 310 bps) June 26, 2033 September 25, 2003 10,000 6,902 6,823 4.01 % (3 Month LIBOR + 285 bps) October 8, 2033 December 30, 2003 10,000 6,079 6,020 4.02 % (3 Month LIBOR + 285 bps) December 30, 2033 June 28, 2005 3,000 1,724 1,697 2.93 % (3 Month LIBOR + 168 bps) June 28, 2035 November 4, 2005 20,000 10,271 10,085 2.62 % (3 Month LIBOR + 137 bps) December 15, 2035 December 22, 2005 10,000 4,932 4,863 2.65 % (3 Month LIBOR + 140 bps) March 15, 2036 December 28, 2005 13,000 7,220 7,107 2.79 % (3 Month LIBOR + 154 bps) March 15, 2036 April 27, 2006 30,000 15,090 14,816 2.62 % (3 Month LIBOR + 132 bps) June 30, 2036 June 23, 2006 20,000 12,247 12,092 2.71 % (3 Month LIBOR + 155 bps) July 7, 2036 May 16, 2007 56,000 31,147 30,685 2.90 % (3 Month LIBOR + 165 bps) June 15, 2037 June 15, 2007 10,000 5,702 5,644 2.65 % (3 Month LIBOR + 143 bps) September 6, 2037 Total $ 206,000 $ 118,096 $ 116,456 |
Shareholders' Equity and Mini32
Shareholders' Equity and Minimum Regulatory Capital Requirements (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Regulatory Capital Requirements [Abstract] | |
Schedule of Minimum and Actual Ratios | These minimum ratios along with the actual ratios for the Company and the Bank are presented in the following tables: (Dollars in thousands) Well Capitalized Adequately Capitalized Actual June 30, 2017 Amount Ratio Amount Ratio Amount Ratio Tier 1 Leverage Capital (to Average Assets) CBF Consolidated N/A N/A $ 391,011 ≥ 4.0% $ 1,150,427 11.8% Bank $ 487,466 ≥ 5.0% $ 389,973 ≥ 4.0% $ 1,046,843 10.7% Tier 1 Common Equity Capital (to Risk-weighted Assets) CBF Consolidated N/A N/A $ 377,096 ≥ 4.5% $ 1,043,384 12.5% Bank $ 543,319 ≥ 6.5% $ 376,144 ≥ 4.5% $ 1,046,843 12.5% Tier 1 Risk-based Capital (to Risk-weighted Assets) CBF Consolidated N/A N/A $ 502,795 ≥ 6.0% $ 1,150,427 13.7% Bank $ 668,700 ≥ 8.0% $ 501,525 ≥ 6.0% $ 1,046,843 12.5% Total Risk-based Capital (to Risk-weighted Assets) CBF Consolidated N/A N/A $ 670,393 ≥ 8.0% $ 1,195,497 14.3% Bank $ 835,875 ≥ 10.0% $ 668,700 ≥ 8.0% $ 1,091,913 13.1% (Dollars in thousands) Well Capitalized Requirement Adequately Capitalized Requirement Actual December 31, 2016 Amount Ratio Amount Ratio Amount Ratio Tier 1 Capital (to Average Assets) CBF Consolidated N/A N/A $ 360,513 ≥ 4.0% $ 1,101,743 12.2% Bank $ 450,006 ≥ 5.0% $ 360,005 ≥ 4.0% $ 1,010,409 11.2% Tier 1 Common Equity Capital (to Risk-weighted Assets) CBF Consolidated N/A N/A $ 367,521 ≥ 4.5% $ 1,012,831 12.4% Bank $ 529,887 ≥ 6.5% $ 366,845 ≥ 4.5% $ 1,010,409 12.4% Tier 1 Capital (to Risk-weighted Assets) CBF Consolidated N/A N/A $ 490,028 ≥ 6.0% $ 1,101,743 13.5% Bank $ 652,169 ≥ 8.0% $ 489,127 ≥ 6.0% $ 1,010,409 12.4% Total Capital (to Risk-weighted Assets) CBF Consolidated N/A N/A $ 653,371 ≥ 8.0% $ 1,145,351 14.0% Bank $ 815,211 ≥ 10.0% $ 652,169 ≥ 8.0% $ 1,054,016 12.9% |
Stock-Based Compensation (Table
Stock-Based Compensation (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Components and Classification of Stock-Based Compensation Expense | The following table summarizes the components and classification of stock-based compensation expense for the three and six months ended June 30, 2017 and 2016 : (Dollars in thousands) Three Months Ended Six Months Ended June 30, 2017 June 30, 2016 June 30, 2017 June 30, 2016 Stock options $ 28 $ 12 $ 52 $ 21 Restricted stock 936 455 1,812 763 Total stock-based compensation expense $ 964 $ 467 $ 1,864 $ 784 |
Stock Option Activity | A summary of the stock option activity for the six months ended June 30, 2017 and 2016 is as follows: Six Months Ended June 30, 2017 June 30, 2016 (Shares in thousands) Shares Weighted Shares Weighted Balance, January 1, 3,180 $ 20.86 3,075 $ 20.12 Granted 15 39.55 30 30.54 Exercised (84 ) 20.55 (27 ) 18.00 Canceled, expired or forfeited (3 ) 70.98 (2 ) 30.54 Balance, June 30, 3,108 $ 20.92 3,076 $ 20.23 |
Options Outstanding | Options outstanding at June 30, 2017 were as follows: (Shares in thousands) Outstanding Options Exercisable Options Range of Exercise Prices Shares Weighted Average Remaining Contractual Life Weighted Average Exercise Price Per Share Shares Weighted Average Exercise Price Per Share $18.00 121 5.89 years $ 18.00 121 $ 18.00 $18.01 - $20.00 2,819 2.98 years 20.00 2,819 20.00 $20.01 - $2,026.00 168 7.67 years 37.31 113 38.11 $18.00 - $2,026.00 3,108 3.34 years $ 20.85 3,053 $ 20.59 |
Unvested Restricted Stock Activity | The following table summarizes unvested restricted stock activity for the six months ended June 30, 2017 and 2016 : Six Months Ended June 30, 2017 June 30, 2016 (Shares in thousands) Shares Weighted Shares Weighted Balance, January 1, 197 $ 30.10 — $ — Granted 165 39.56 198 30.30 Vested or released (64 ) 30.56 — — Canceled, expired or forfeited (3 ) 34.07 (1 ) 30.54 Balance, June 30 295 $ 35.25 197 $ 30.30 |
Income Taxes (Tables)
Income Taxes (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Income Tax Disclosure [Abstract] | |
Reconciliation of Income Tax Computed at Applicable Federal Statutory Income Tax Rates to Total Income Taxes | A reconciliation of income tax computed at applicable Federal statutory income tax rates to total income tax expense reported for the three and six months ended June 30, 2017 and 2016 is as follows: (Dollars in thousands) Three Months Ended Six Months Ended June 30, 2017 June 30, 2016 June 30, 2017 June 30, 2016 Income before income taxes $ 37,954 $ 27,729 $ 69,827 $ 43,349 Income taxes computed at Federal statutory tax rate 13,283 9,705 24,439 15,172 Effect of: State taxes (net of federal benefit) 976 851 1,773 1,321 State statutory rate change 461 — 461 — Tax-exempt interest income, net (382 ) (311 ) (716 ) (481 ) Other, net (190 ) 43 (819 ) 36 Total income tax expense $ 14,148 $ 10,288 $ 25,138 $ 16,048 |
Fair Value (Tables)
Fair Value (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Fair Value Disclosures [Abstract] | |
Assets and Liabilities Measured at Fair Value on a Recurring Basis | Assets and liabilities measured at fair value on a recurring basis as of June 30, 2017 are summarized below: (Dollars in thousands) Fair Value Measurement Using: Total Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Assets Trading securities $ 4,290 $ — $ 4,290 $ — Available-for-sale securities: Mortgage-backed securities—residential $ 1,067,577 $ — $ 1,067,577 $ — Industrial revenue bonds 3,137 — — 3,137 Corporate bonds 63,621 — 63,621 — State and political subdivisions—tax exempt 11,377 — 11,377 — Available-for-sale securities $ 1,145,712 $ — $ 1,142,575 $ 3,137 Gross asset value of derivatives $ 1,230 $ — $ 1,230 $ — Liabilities Gross liability value of derivatives $ 1,953 $ — $ 1,953 $ — There were no transfers of assets and liabilities between levels of the fair value hierarchy during the six months ended June 30, 2017 . Assets and liabilities measured at fair value on a recurring basis as of December 31, 2016 are summarized below: (Dollars in thousands) Fair Value Measurement Using: Total Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Assets Trading securities $ 3,791 $ — $ 3,791 $ — Available-for-sale securities: Mortgage-backed securities-residential $ 868,922 $ — $ 868,922 $ — State and political subdivisions - tax exempt 11,077 — 11,077 — Industrial revenue bonds 3,298 — — 3,298 Corporate bonds 28,953 — 28,953 — Available-for-sale securities $ 912,250 $ — $ 908,952 $ 3,298 Gross asset value of derivatives $ 1,078 $ — $ 1,078 $ — Liabilities Gross liability value of derivatives $ 1,354 $ — $ 1,354 $ — |
Fair Value Measurements on Recurring Basis Using Significant Unobservable Inputs (Level 3) | The table below presents the activity and income statement classifications of gains and losses for all assets measured at fair value on a recurring basis using significant unobservable inputs (Level 3) for the three and six months ended months ended and held at June 30, 2017 and 2016 : (Dollars in thousands) Fair Value Measurement Using Significant Unobservable Inputs (Level 3) Industrial Revenue Bonds Beginning balance, April 1, 2017 $ 3,136 Principal reduction — Included in other comprehensive income 1 Ending balance, June 30, 2017 $ 3,137 (Dollars in thousands) Fair Value Measurement Using Significant Unobservable Inputs (Level 3) Industrial Revenue Bonds Beginning balance, January 1, 2017 $ 3,298 Principal reduction (170 ) Included in other comprehensive income 9 Ending balance, June 30, 2017 $ 3,137 (Dollars in thousands) Fair Value Measurement Using Significant Unobservable Inputs (Level 3) Industrial Revenue Bonds Beginning balance, April 1, 2016 $ 3,249 Principal reduction — Included in other comprehensive income 14 Ending balance, June 30, 2016 $ 3,263 (Dollars in thousands) Fair Value Measurement Using Significant Unobservable Inputs (Level 3) Industrial Revenue Bonds Beginning balance, January 1, 2016 $ 3,437 Principal reduction (170 ) Included in other comprehensive income (4 ) Ending balance, June 30, 2016 $ 3,263 |
Quantitative Information About Recurring Level 3 Fair Value Measurements | (Dollars in thousands) Fair Value at Valuation Technique Significant Range Industrial revenue bonds $ 3,137 Discounted cash flow Discount rate 3.041% - 3.044% Illiquidity factor 0.5% (Dollars in thousands) Fair Value at December 31, 2016 Valuation Technique Significant Unobservable Input Range Industrial revenue bonds $ 3,298 Discounted cash flow Discount rate 3.31% - 3.35% Illiquidity factor 0.5% |
Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis | Assets and liabilities measured at fair value on a nonrecurring basis as of December 31, 2016 are summarized below: (Dollars in thousands) Fair Value Measurement Using: Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Assets Other real estate owned $ — $ — $ 41,168 Premises and equipment held for sale — — 2,599 Other repossessed assets 163 — — Impaired loans — — 1,420 Assets and liabilities measured at fair value on a nonrecurring basis as of June 30, 2017 are summarized below: (Dollars in thousands) Fair Value Measurement Using: Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Assets Other real estate owned $ — $ — $ 32,583 Premises and equipment held for sale — — 15,744 Other repossessed assets 254 — — Impaired loans — — 1,123 |
Quantitative Information About Nonrecurring Level 3 Fair Value Measurements | (Dollars in thousands) Fair Value at Valuation Technique Significant Unobservable Input Weighted Average Other real estate owned $ 32,583 Fair value of property Appraised value and other market conditions 7.98% Premises and equipment held for sale 15,744 Fair value of property Appraised value and other market conditions 8.00% Impaired loans 1,123 Fair value of collateral Appraised value and other market conditions 7.34% (Dollars in thousands) Fair Value at December 31, 2016 Valuation Technique Significant Unobservable Input Weighted Average Other real estate owned $ 41,168 Fair value of property Appraised value and other market conditions 7.91% Premises and equipment held for sale 2,599 Fair value of property Appraised value and other market conditions 8.00% Impaired loans 1,420 Fair value of collateral Appraised value and other market conditions 7.47% |
Carrying Amounts and Estimated Fair Values of Financial Instruments | Carrying amount and estimated fair values of financial instruments were as follows: (Dollars in thousands) Fair Value Measurement June 30, 2017 Carrying Value Estimated Level 1 Level 2 Level 3 Financial Assets Cash and cash equivalents $ 155,411 $ 155,411 $ 155,411 $ — $ — Trading securities 4,290 4,290 — 4,290 — Investment securities available-for-sale 1,145,712 1,145,712 — 1,142,575 3,137 Investment securities held-to-maturity 430,411 431,269 — 431,269 — Loans, net 7,525,476 7,532,656 — 3,533 7,529,123 Other earning assets (1) 28,944 28,944 — — 28,944 Gross asset value of derivatives 1,230 1,230 — 1,230 — Total financial assets $ 9,291,474 $ 9,299,512 $ 155,411 $ 1,582,897 $ 7,561,204 Financial Liabilities Non-contractual deposits $ 5,856,569 $ 5,856,569 $ — $ 5,856,569 $ — Contractual deposits 2,218,444 2,198,543 — 2,198,543 — Federal Home Loan Bank advances 470,600 470,159 — 470,159 — Short-term borrowings 32,637 32,630 — 32,630 — Subordinated debentures 118,096 116,007 — — 116,007 Gross liability value of derivatives 1,953 1,953 — 1,953 — Total financial liabilities $ 8,698,299 $ 8,675,861 $ — $ 8,559,854 $ 116,007 (1) Includes Federal Home Loan Bank stock. (Dollars in thousands) Fair Value Measurement December 31, 2016 Carrying Value Estimated Fair Value Level 1 Level 2 Level 3 Financial Assets Cash and cash equivalents $ 309,055 $ 309,055 $ 309,055 $ — $ — Trading securities 3,791 3,791 — 3,791 — Investment securities available-for-sale 912,250 912,250 — 908,952 3,298 Investment securities held-to-maturity 463,959 460,911 — 460,911 — Loans, net 7,363,127 7,395,128 — 12,874 7,382,254 Other earning assets (1) 32,050 32,050 — — 32,050 Gross asset value of derivatives 1,078 1,078 — 1,078 — Total financial assets $ 9,085,310 $ 9,114,263 $ 309,055 $ 1,387,606 $ 7,417,602 Financial Liabilities Non-contractual deposits $ 5,743,316 $ 5,743,316 $ — $ 5,743,316 $ — Contractual deposits 2,137,312 2,121,519 — 2,121,519 — Federal Home Loan Bank advances 545,701 546,023 — 546,023 — Short-term borrowings 19,157 19,154 — 19,154 — Subordinated debentures 116,456 114,593 — — 114,593 Gross liability value of derivatives 1,354 1,354 — 1,354 — Total financial liabilities $ 8,563,296 $ 8,545,959 $ — $ 8,431,366 $ 114,593 (1) Includes Federal Home Loan Bank stock. |
Derivative and Hedging Activi36
Derivative and Hedging Activities (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Summary of Derivative Instrument Contracts at Fair Value and Balance Sheet Classification | The Company’s derivative instrument contracts at fair value as well as their classification on the Company's Consolidated Balance Sheet is presented below: (Dollars in thousands) June 30, 2017 December 31, 2016 Number of instruments Balance Sheet Location Fair Value Notional Fair Value Notional Asset derivatives Derivatives designated as hedging instruments Interest rate swap — Other assets $ — $ — $ 130 $ 120,000 Derivatives not designated as hedging instruments Forward loan sales contracts 71 Other assets 41 9,648 13 4,205 Interest rate swap 7 Other assets 1,189 39,722 935 24,947 Total asset derivatives $ 1,230 $ 49,370 $ 1,078 $ 149,152 Liability derivatives Derivatives designated as hedging instruments Interest rate swap 4 Other liabilities $ 779 $ 235,000 $ 378 $ 115,000 Derivatives not designated as hedging instruments Forward loan sales contracts 4 Other liabilities 1 889 114 11,870 Interest rate swap 7 Other liabilities 1,173 39,722 862 24,947 Total liability derivatives $ 1,953 $ 275,611 $ 1,354 $ 151,817 |
Summary of Derivative Instrument on the Consolidated Statements of Income | The table below presents the effect of the Company's derivative financial instruments on the Consolidated Statements of Income for the three and six months ended June 30, 2017 and 2016 : (Dollars in thousands) Three Months Ended June 30, 2017 Derivatives in Cash Flow Hedging Relationship Amount of Gain Recognized in Accumulated OCI on Derivative (Effective Portion) Location of Gain Reclassified from Accumulated OCI into Income (Effective Portion) Amount of Gain Reclassified from Accumulated OCI on Derivative (Effective Portion) Location of Gain or (Loss) Recognized in Income on Derivative (Ineffective Portion) Amount Recognized in Income on Derivative (Ineffective Portion) Interest rate swap $ 650 Interest income $ 298 N/A $ — (Dollars in thousands) Six Months Ended June 30, 2017 Derivatives in Cash Flow Hedging Relationship Amount of Gain Recognized in Accumulated OCI on Derivative (Effective Portion) Location of Gain Reclassified from Accumulated OCI into Income (Effective Portion) Amount of Gain Reclassified from Accumulated OCI on Derivative (Effective Portion) Location of Gain or (Loss) Recognized in Income on Derivative (Ineffective Portion) Amount Recognized in Income on Derivative (Ineffective Portion) Interest rate swap $ 199 Interest income $ 730 N/A $ — (Dollars in thousands) Three Months Ended June 30, 2016 Derivatives in Cash Flow Hedging Relationship Amount of Gain Recognized in Accumulated OCI on Derivative (Effective Portion) Location of Gain Reclassified from Accumulated OCI into Income (Effective Portion) Amount of Gain Reclassified from Accumulated OCI on Derivative (Effective Portion) Location of Gain or (Loss) Recognized in Income on Derivative (Ineffective Portion) Amount of Gain or (Loss) Recognized in Income on Derivative (Ineffective Portion) Interest rate swap $ 2,155 Interest income $ 634 N/A $ — (Dollars in thousands) Six Months Ended June 30, 2016 Derivatives in Cash Flow Hedging Relationship Amount of Gain Recognized in Accumulated OCI on Derivative (Effective Portion) Location of Gain Reclassified from Accumulated OCI into Income (Effective Portion) Amount of Gain Reclassified from Accumulated OCI on Derivative (Effective Portion) Location of Gain or (Loss) Recognized in Income on Derivative (Ineffective Portion) Amount of Gain or (Loss) Recognized in Income on Derivative (Ineffective Portion) Interest rate swap $ 7,681 Interest income $ 1,278 N/A $ — |
Offsetting Derivative Assets | The table below presents a gross presentation, the effects of offsetting, and a net presentation of the Company's derivatives as of June 30, 2017 : Gross Amounts Not Offset in the Balance Sheets (Dollars in thousands) Gross Amount of Recognized Assets Gross Amount Offset in the Balance Sheets Net Amount of Assets Presented in the Balance Sheets Financial Instruments Cash Collateral Net Amount Offsetting of derivative assets: Interest rate swap $ 1,189 $ — $ 1,189 $ 586 $ 221 $ 382 Total $ 1,189 $ — $ 1,189 $ 586 $ 221 $ 382 Offsetting of derivative liabilities: Interest rate swap 1,952 — 1,952 586 598 $ 768 Total $ 1,952 $ — $ 1,952 $ 586 $ 598 $ 768 |
Offsetting Derivative Liabilities | The table below presents a gross presentation, the effects of offsetting, and a net presentation of the Company's derivatives as of June 30, 2017 : Gross Amounts Not Offset in the Balance Sheets (Dollars in thousands) Gross Amount of Recognized Assets Gross Amount Offset in the Balance Sheets Net Amount of Assets Presented in the Balance Sheets Financial Instruments Cash Collateral Net Amount Offsetting of derivative assets: Interest rate swap $ 1,189 $ — $ 1,189 $ 586 $ 221 $ 382 Total $ 1,189 $ — $ 1,189 $ 586 $ 221 $ 382 Offsetting of derivative liabilities: Interest rate swap 1,952 — 1,952 586 598 $ 768 Total $ 1,952 $ — $ 1,952 $ 586 $ 598 $ 768 |
Basis of Presentation - Additio
Basis of Presentation - Additional Information (Details) $ / shares in Units, $ in Thousands | May 03, 2017$ / shares | Jun. 30, 2017USD ($)$ / shares | Jun. 30, 2016USD ($)$ / shares | Jun. 30, 2017USD ($)depository_institutionofficebank$ / shares | Jun. 30, 2016USD ($)$ / shares | Dec. 31, 2017bank | Dec. 31, 2016USD ($) |
Business Acquisition [Line Items] | |||||||
Amount raised through private placements and an initial public offering during year of inception | $ | $ 955,600 | ||||||
Number of depository institutions acquired since inception | depository_institution | 8 | ||||||
Total number of full service banking offices | office | 189 | ||||||
Property held for sale | $ | $ 18,494 | $ 18,494 | $ 2,599 | ||||
Net income | $ | $ 23,806 | $ 17,441 | $ 44,689 | $ 27,301 | |||
Basic (in dollars per share) | $ / shares | $ 0.46 | $ 0.41 | $ 0.87 | $ 0.63 | |||
Diluted (in dollars per share) | $ / shares | $ 0.45 | $ 0.40 | $ 0.84 | $ 0.62 | |||
Accounting Standards Update 2016-09 | |||||||
Business Acquisition [Line Items] | |||||||
Net income | $ | $ 100 | ||||||
Basic (in dollars per share) | $ / shares | $ 0.01 | ||||||
Diluted (in dollars per share) | $ / shares | $ 0.01 | ||||||
Bank branch | Held-for-sale | |||||||
Business Acquisition [Line Items] | |||||||
Property held for sale | $ | $ 18,100 | $ 18,100 | |||||
CommunityOne | |||||||
Business Acquisition [Line Items] | |||||||
Number of acquired branches closed and consolidated | bank | 7 | ||||||
CommunityOne | Forecast | |||||||
Business Acquisition [Line Items] | |||||||
Number of acquired branches closed and consolidated | bank | 11 | ||||||
Capital Bank Financial Corp. | Plan | |||||||
Business Acquisition [Line Items] | |||||||
Conversion ratio | 1.750 | ||||||
Capital Bank Financial Corp. | Plan | First Horizon | |||||||
Business Acquisition [Line Items] | |||||||
Price per share of stock to be paid in merger (in dollars per share) | $ / shares | $ 7.90 |
Earnings Per Common Share - Com
Earnings Per Common Share - Computation of Earnings Per Share (Details) - shares shares in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
Weighted average number of shares outstanding: | ||||
Basic (in shares) | 51,683 | 43,011 | 51,659 | 43,036 |
Diluted (in shares) | 53,226 | 44,068 | 53,214 | 44,074 |
Options | ||||
Weighted average number of shares outstanding: | ||||
Dilutive effect (in shares) | 1,478 | 1,041 | 1,501 | 1,030 |
Unvested restricted shares | ||||
Weighted average number of shares outstanding: | ||||
Dilutive effect (in shares) | 65 | 16 | 54 | 8 |
Earnings Per Common Share - Wei
Earnings Per Common Share - Weighted Average Anti-Dilutive Stock Options and Unvested Restricted Shares Excluded from the Computation of Diluted Earnings Per Share (Details) - shares shares in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
Stock options | ||||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||||
Anti-dilutive shares (in shares) | 0 | 38 | 3 | 38 |
Unvested restricted shares | ||||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||||
Anti-dilutive shares (in shares) | 0 | 3 | 14 | 2 |
Business Combinations and Acq40
Business Combinations and Acquisitions - Additional Information (Details) $ in Thousands, shares in Millions | Oct. 26, 2016USD ($)bankshares | Jun. 30, 2017USD ($) | Jun. 30, 2016USD ($) | Jun. 30, 2017USD ($) | Jun. 30, 2016USD ($) | Dec. 31, 2016USD ($) |
Business Acquisition [Line Items] | ||||||
Goodwill | $ 234,158 | $ 234,158 | $ 235,500 | |||
Loans | $ 1,400,000 | |||||
Estimated cash flow of loans | 1,600,000 | |||||
Transaction and integration expense incurred | 981 | $ 1,236 | $ 4,018 | $ 2,923 | ||
CommunityOne | ||||||
Business Acquisition [Line Items] | ||||||
Total assets | $ 2,361,042 | |||||
Number of banking locations | bank | 45 | |||||
Total transaction value | $ 340,500 | |||||
Cash paid to acquire business | 51,900 | |||||
Goodwill | 103,443 | |||||
Increase due to recovery on fully charged off loan | 400 | |||||
Increase in deferred tax asset | 1,000 | |||||
Decrease in goodwill | $ 1,300 | |||||
Loans | 1,497,785 | |||||
Estimated fair value of core deposits | 1,892,443 | |||||
Transaction and integration expense incurred | $ 3,900 | |||||
CommunityOne | Core deposits | ||||||
Business Acquisition [Line Items] | ||||||
Estimated fair value of core deposits | $ 19,900 | |||||
CommunityOne | Common stock | ||||||
Business Acquisition [Line Items] | ||||||
Outstanding stock acquired (as percent) | 100.00% | |||||
Common stock issued to acquire business (in shares) | shares | 8.9 | |||||
Common stock issued to acquire business | $ 288,600 | |||||
CommunityOne | Common stock | Core deposits | ||||||
Business Acquisition [Line Items] | ||||||
Estimated useful life of intangible asset | 10 years |
Business Combinations and Acq41
Business Combinations and Acquisitions - Fair Value of Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 | Oct. 26, 2016 |
Fair value of assets acquired: | |||
Loans | $ 1,400,000 | ||
Goodwill | $ 234,158 | $ 235,500 | |
CommunityOne | |||
Fair value of assets acquired: | |||
Cash and cash equivalents | 58,308 | ||
Investment securities | 488,814 | ||
Loans | 1,497,785 | ||
Premises and equipment | 46,763 | ||
Goodwill | 103,443 | ||
Other intangible assets | 22,518 | ||
Deferred tax asset | 60,695 | ||
Other assets | 82,716 | ||
Total assets acquired | 2,361,042 | ||
Fair value of liabilities assumed: | |||
Deposits | 1,892,443 | ||
Long term debt and other borrowings | 105,720 | ||
Other liabilities | 22,345 | ||
Total liabilities assumed | 2,020,508 | ||
Net assets acquired | $ 340,534 |
Business Combinations and Acq42
Business Combinations and Acquisitions - Loans Acquired Subject to ASC 310-30 (Details) $ in Thousands | Oct. 26, 2016USD ($) |
Business Acquisition [Line Items] | |
Fair Value of Acquired Loans | $ 1,400,000 |
Gross Contractual Amounts Receivable | 1,600,000 |
CommunityOne | |
Business Acquisition [Line Items] | |
Fair Value of Acquired Loans | 1,497,785 |
Loans acquired subject to ASC 310-30 | CommunityOne | |
Business Acquisition [Line Items] | |
Fair Value of Acquired Loans | 129,075 |
Gross Contractual Amounts Receivable | 182,927 |
Best Estimate of Contractual Cash Flows not to be Collected | $ 34,219 |
Business Combinations and Acq43
Business Combinations and Acquisitions - Pro-forma Financial Information (Details) - CommunityOne $ / shares in Units, $ in Thousands | 6 Months Ended |
Jun. 30, 2016USD ($)$ / shares | |
Business Acquisition [Line Items] | |
Net interest income | $ | $ 156,905 |
Net income | $ | $ 33,958 |
Basic earnings per share (in dollars per share) | $ / shares | $ 0.65 |
Diluted earnings per share (in dollars per share) | $ / shares | $ 0.64 |
Investment Securities - Additio
Investment Securities - Additional Information (Detail) | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2017USD ($)security | Jun. 30, 2016USD ($) | Jun. 30, 2017USD ($)security | Jun. 30, 2016USD ($) | Dec. 31, 2016USD ($) | |
Investments, Debt and Equity Securities [Abstract] | |||||
Trading securities | $ 4,290,000 | $ 4,290,000 | $ 3,791,000 | ||
Proceeds from sale of securities | $ 0 | $ 90,600,000 | $ 0 | $ 90,600,000 | |
Gross realized gain | $ 100,000 | $ 100,000 | |||
Number of securities in portfolio | security | 175 | 175 | |||
Number of securities in portfolio in an unrealized loss position | security | 75 | 75 | |||
Investment securities, carrying values | $ 650,800,000 | $ 650,800,000 | $ 621,800,000 |
Investment Securities - Amortiz
Investment Securities - Amortized Cost and Estimated Fair Value of Investment Securities Available for Sale and Held to Maturity (Detail) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Available-for-Sale | ||
Amortized Cost | $ 1,152,613 | $ 927,266 |
Unrealized Gains | 6,198 | 2,489 |
Unrealized Losses | 13,099 | 17,505 |
Estimated Fair Value | 1,145,712 | 912,250 |
Held-to-Maturity | ||
Amortized Cost | 430,411 | 463,959 |
Unrealized Gains | 3,198 | 1,839 |
Unrealized Losses | 2,340 | 4,887 |
Fair value of investment securities held-to-maturity | 431,269 | 460,911 |
Corporate bonds | ||
Available-for-Sale | ||
Amortized Cost | 59,947 | 28,354 |
Unrealized Gains | 3,674 | 786 |
Unrealized Losses | 0 | 187 |
Estimated Fair Value | 63,621 | 28,953 |
State and political subdivisions—tax exempt | ||
Available-for-Sale | ||
Amortized Cost | 11,864 | 11,871 |
Unrealized Gains | 0 | 0 |
Unrealized Losses | 487 | 794 |
Estimated Fair Value | 11,377 | 11,077 |
Mortgage-backed securities—residential issued by government sponsored entities | ||
Available-for-Sale | ||
Amortized Cost | 1,077,733 | 883,802 |
Unrealized Gains | 2,456 | 1,644 |
Unrealized Losses | 12,612 | 16,524 |
Estimated Fair Value | 1,067,577 | 868,922 |
Industrial revenue bonds | ||
Available-for-Sale | ||
Amortized Cost | 3,069 | 3,239 |
Unrealized Gains | 68 | 59 |
Unrealized Losses | 0 | 0 |
Estimated Fair Value | 3,137 | 3,298 |
U.S. Government agencies | ||
Held-to-Maturity | ||
Amortized Cost | 10,292 | 11,234 |
Unrealized Gains | 114 | 77 |
Unrealized Losses | 0 | 0 |
Fair value of investment securities held-to-maturity | 10,406 | 11,311 |
Corporate bonds | ||
Held-to-Maturity | ||
Amortized Cost | 94,006 | 94,010 |
Unrealized Gains | 780 | 279 |
Unrealized Losses | 739 | 2,301 |
Fair value of investment securities held-to-maturity | 94,047 | 91,988 |
State and political subdivisions—tax exempt | ||
Held-to-Maturity | ||
Amortized Cost | 8,190 | 8,069 |
Unrealized Gains | 657 | 389 |
Unrealized Losses | 0 | 0 |
Fair value of investment securities held-to-maturity | 8,847 | 8,458 |
State and political subdivisions—taxable | ||
Held-to-Maturity | ||
Amortized Cost | 516 | 520 |
Unrealized Gains | 12 | 13 |
Unrealized Losses | 0 | 0 |
Fair value of investment securities held-to-maturity | 528 | 533 |
Mortgage-backed securities—residential issued by government sponsored entities | ||
Held-to-Maturity | ||
Amortized Cost | 317,407 | 350,126 |
Unrealized Gains | 1,635 | 1,081 |
Unrealized Losses | 1,601 | 2,586 |
Fair value of investment securities held-to-maturity | $ 317,441 | $ 348,621 |
Investment Securities - Estimat
Investment Securities - Estimated Fair Value of Investment Securities Available for Sale and Held to Maturity by Contractual Maturity (Detail) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Amortized Cost | ||
Amortized Cost | $ 1,152,613 | $ 927,266 |
Estimated Fair Value | ||
Total | $ 1,145,712 | 912,250 |
Yield | ||
Total (as a percent) | 2.33% | |
Amortized Cost | ||
Amortized Cost | $ 430,411 | 463,959 |
Estimated Fair Value | ||
Total | $ 431,269 | 460,911 |
Yield | ||
Total (as a percent) | 3.00% | |
Debt Securities | ||
Amortized Cost | ||
Available-for-sale, due in one year or less | $ 0 | |
Available-for-sale, due after one year through five years | 0 | |
Available-for-sale, due after five years through ten years | 46,751 | |
Available-for-sale, due after ten years | 28,129 | |
Estimated Fair Value | ||
Available-for-sale, due in one year or less | 0 | |
Available-for-sale, due after one year through five years | 0 | |
Available-for-sale, due after five years through ten years | 49,340 | |
Available-for-sale, due after ten years | $ 28,795 | |
Yield | ||
Available-for-sale, due in one year or less (as a percent) | 0.00% | |
Available-for-sale, due after one year through five years (as a percent) | 0.00% | |
Available-for-sale, due after five years through ten years (as a percent) | 3.28% | |
Available-for-sale, due after ten years (as a percent) | 2.71% | |
Mortgage-backed securities—residential issued by government sponsored entities | ||
Amortized Cost | ||
Available-for-sale | $ 1,077,733 | |
Amortized Cost | 1,077,733 | 883,802 |
Estimated Fair Value | ||
Available-for-sale | 1,067,577 | |
Total | $ 1,067,577 | 868,922 |
Yield | ||
Available-for-sale (as a percent) | 2.28% | |
Debt Securities | ||
Amortized Cost | ||
Held-to-maturity, due in one year or less | $ 696 | |
Held-to-maturity, due after one year through five years | 59,776 | |
Held-to-maturity, due after five years through ten years | 42,240 | |
Held-to-maturity, due after ten years | 10,292 | |
Estimated Fair Value | ||
Held-to-maturity, due in one year or less | 698 | |
Held-to-maturity, due after one year through five years | 59,736 | |
Held-to-maturity, due after five years through ten years | 42,987 | |
Held-to-maturity, due after ten years | $ 10,407 | |
Yield | ||
Held-to-maturity, due in one year or less (as a percent) | 1.72% | |
Held-to-maturity, due after one year through five years (as a percent) | 4.90% | |
Held-to-maturity, due after five years through ten years (as a percent) | 5.03% | |
Held-to-maturity, due after ten years (as a percent) | 2.81% | |
Mortgage-backed securities—residential issued by government sponsored entities | ||
Amortized Cost | ||
Held-to-maturity | $ 317,407 | |
Amortized Cost | 317,407 | 350,126 |
Estimated Fair Value | ||
Held-to-maturity | 317,441 | |
Total | $ 317,441 | $ 348,621 |
Yield | ||
Held-to-maturity (as a percent) | 2.38% |
Investment Securities - Securit
Investment Securities - Securities with Unrealized Losses Not Recognized in Income (Detail) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Estimated Fair Value | ||
Estimated Fair Value, Less than 12 Months, Available-for-sale | $ 707,217 | $ 683,749 |
Estimated Fair Value, 12 Months or Longer, Available-for-sale | 19,230 | 8,412 |
Total, Estimated Fair Value, Available-for-sale | 726,447 | 692,161 |
Unrealized Losses | ||
Unrealized Losses, Less than 12 Months, Available-for-sale | 12,538 | 17,318 |
Unrealized Losses,12 Months or Longer, Available-for-sale | 561 | 187 |
Total, Unrealized Losses, Available-for-sale | 13,099 | 17,505 |
Estimated Fair Value | ||
Estimated Fair Value, Less than 12 Months, Held-to-maturity | 259,745 | 312,495 |
Estimated Fair Value, 12 Months or Longer, Held-to-maturity | 36,979 | 36,606 |
Total, Estimated Fair Value, Held-to-maturity | 296,724 | 349,101 |
Unrealized Losses | ||
Unrealized Losses, Less than 12 Months, Held-to-maturity | 4,886 | 7,387 |
Unrealized Losses, 12 Months or Longer, Held-to-maturity | 955 | 2,262 |
Total, Unrealized Losses, Held-to-Maturity | 5,841 | 9,649 |
Corporate bonds | ||
Estimated Fair Value | ||
Estimated Fair Value, Less than 12 Months, Available-for-sale | 0 | |
Estimated Fair Value, 12 Months or Longer, Available-for-sale | 8,412 | |
Total, Estimated Fair Value, Available-for-sale | 8,412 | |
Unrealized Losses | ||
Unrealized Losses, Less than 12 Months, Available-for-sale | 0 | |
Unrealized Losses,12 Months or Longer, Available-for-sale | 187 | |
Total, Unrealized Losses, Available-for-sale | 187 | |
State and political subdivisions—tax exempt | ||
Estimated Fair Value | ||
Estimated Fair Value, Less than 12 Months, Available-for-sale | 11,377 | 11,077 |
Estimated Fair Value, 12 Months or Longer, Available-for-sale | 0 | 0 |
Total, Estimated Fair Value, Available-for-sale | 11,377 | 11,077 |
Unrealized Losses | ||
Unrealized Losses, Less than 12 Months, Available-for-sale | 487 | 794 |
Unrealized Losses,12 Months or Longer, Available-for-sale | 0 | 0 |
Total, Unrealized Losses, Available-for-sale | 487 | 794 |
Mortgage-backed securities—residential issued by government sponsored entities | ||
Estimated Fair Value | ||
Estimated Fair Value, Less than 12 Months, Available-for-sale | 695,840 | 672,672 |
Estimated Fair Value, 12 Months or Longer, Available-for-sale | 19,230 | 0 |
Total, Estimated Fair Value, Available-for-sale | 715,070 | 672,672 |
Unrealized Losses | ||
Unrealized Losses, Less than 12 Months, Available-for-sale | 12,051 | 16,524 |
Unrealized Losses,12 Months or Longer, Available-for-sale | 561 | 0 |
Total, Unrealized Losses, Available-for-sale | 12,612 | 16,524 |
U.S. Government agencies | ||
Estimated Fair Value | ||
Estimated Fair Value, Less than 12 Months, Held-to-maturity | 10,406 | 11,311 |
Estimated Fair Value, 12 Months or Longer, Held-to-maturity | 0 | 0 |
Total, Estimated Fair Value, Held-to-maturity | 10,406 | 11,311 |
Unrealized Losses | ||
Unrealized Losses, Less than 12 Months, Held-to-maturity | 309 | 402 |
Unrealized Losses, 12 Months or Longer, Held-to-maturity | 0 | 0 |
Total, Unrealized Losses, Held-to-Maturity | 309 | 402 |
Corporate bonds | ||
Estimated Fair Value | ||
Estimated Fair Value, Less than 12 Months, Held-to-maturity | 14,931 | 24,629 |
Estimated Fair Value, 12 Months or Longer, Held-to-maturity | 29,363 | 28,112 |
Total, Estimated Fair Value, Held-to-maturity | 44,294 | 52,741 |
Unrealized Losses | ||
Unrealized Losses, Less than 12 Months, Held-to-maturity | 68 | 371 |
Unrealized Losses, 12 Months or Longer, Held-to-maturity | 671 | 1,930 |
Total, Unrealized Losses, Held-to-Maturity | 739 | 2,301 |
Mortgage-backed securities—residential issued by government sponsored entities | ||
Estimated Fair Value | ||
Estimated Fair Value, Less than 12 Months, Held-to-maturity | 234,408 | 276,555 |
Estimated Fair Value, 12 Months or Longer, Held-to-maturity | 7,616 | 8,494 |
Total, Estimated Fair Value, Held-to-maturity | 242,024 | 285,049 |
Unrealized Losses | ||
Unrealized Losses, Less than 12 Months, Held-to-maturity | 4,509 | 6,614 |
Unrealized Losses, 12 Months or Longer, Held-to-maturity | 284 | 332 |
Total, Unrealized Losses, Held-to-Maturity | $ 4,793 | $ 6,946 |
Loans - Major Classifications o
Loans - Major Classifications of Loans (Detail) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans | $ 7,570,114 | $ 7,406,192 |
Total commercial real estate | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans | 1,951,283 | 1,716,050 |
Total commercial real estate | Non-owner occupied commercial real estate | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans | 1,265,576 | 1,130,883 |
Total commercial real estate | Other commercial construction and land | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans | 384,581 | 327,622 |
Total commercial real estate | Multifamily commercial real estate | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans | 147,365 | 117,515 |
Total commercial real estate | 1-4 family residential construction and land | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans | 153,761 | 140,030 |
Total commercial | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans | 2,712,673 | 2,790,279 |
Total commercial | Owner occupied commercial real estate | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans | 1,287,811 | 1,321,405 |
Total commercial | Commercial and industrial | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans | 1,424,862 | 1,468,874 |
Total consumer | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans | 2,668,103 | 2,671,433 |
Total consumer | 1-4 family residential | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans | 1,782,799 | 1,714,702 |
Total consumer | Home equity loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans | 489,497 | 507,759 |
Total consumer | Other consumer loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans | 395,807 | 448,972 |
Other | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans | $ 238,055 | $ 228,430 |
Loans - Additional Information
Loans - Additional Information (Detail) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans held for sale | $ 3,533 | $ 12,874 |
Deferred loan origination costs | 15,000 | 15,500 |
Loans receivable | 7,570,114 | 7,406,192 |
Other | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable | 238,055 | 228,430 |
Other | Farm land | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable | 42,900 | 41,900 |
Other | State and political subdivisions | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable | 155,300 | 149,000 |
Other | Deposit customer overdraft | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable | 1,300 | 1,600 |
Total commercial real estate | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable | 1,951,283 | $ 1,716,050 |
Analysis of loans individually by classification of credit risk, exceeding | $ 500 |
Loans - Roll Forward of Accreta
Loans - Roll Forward of Accretable Yield (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
Accretable Yield | ||||
Balance at beginning of period | $ 152,654 | $ 195,065 | $ 161,639 | $ 208,844 |
Accretion of income | (18,616) | (19,923) | (37,399) | (40,766) |
Reclassification from nonaccretable difference | 15,941 | 6,686 | 32,298 | 21,623 |
Other | (4,560) | (10,893) | (11,119) | (18,766) |
Balance at end of period | $ 145,419 | $ 170,935 | $ 145,419 | $ 170,935 |
Loans - Major Categories of Loa
Loans - Major Categories of Loans (Detail) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans | $ 7,570,114 | $ 7,406,192 |
Purchased Credit- Impaired | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans | 823,599 | 936,325 |
New, non-PCI loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans | 5,315,984 | 4,914,477 |
Acquired, non-PCI loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans | 1,430,531 | 1,555,390 |
Total commercial real estate | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans | 1,951,283 | 1,716,050 |
Total commercial real estate | Purchased Credit- Impaired | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans | 289,026 | 322,519 |
Total commercial real estate | New, non-PCI loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans | 1,342,114 | 1,046,040 |
Total commercial real estate | Acquired, non-PCI loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans | 320,143 | 347,491 |
Total commercial real estate | Non-owner occupied commercial real estate | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans | 1,265,576 | 1,130,883 |
Total commercial real estate | Non-owner occupied commercial real estate | Purchased Credit- Impaired | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans | 216,604 | 229,535 |
Total commercial real estate | Non-owner occupied commercial real estate | New, non-PCI loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans | 837,572 | 680,044 |
Total commercial real estate | Non-owner occupied commercial real estate | Acquired, non-PCI loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans | 211,400 | 221,304 |
Total commercial real estate | Other commercial construction and land | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans | 384,581 | 327,622 |
Total commercial real estate | Other commercial construction and land | Purchased Credit- Impaired | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans | 55,684 | 71,888 |
Total commercial real estate | Other commercial construction and land | New, non-PCI loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans | 252,458 | 182,486 |
Total commercial real estate | Other commercial construction and land | Acquired, non-PCI loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans | 76,439 | 73,248 |
Total commercial real estate | Multifamily commercial real estate | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans | 147,365 | 117,515 |
Total commercial real estate | Multifamily commercial real estate | Purchased Credit- Impaired | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans | 16,308 | 20,713 |
Total commercial real estate | Multifamily commercial real estate | New, non-PCI loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans | 115,308 | 77,694 |
Total commercial real estate | Multifamily commercial real estate | Acquired, non-PCI loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans | 15,749 | 19,108 |
Total commercial real estate | 1-4 family residential construction and land | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans | 153,761 | 140,030 |
Total commercial real estate | 1-4 family residential construction and land | Purchased Credit- Impaired | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans | 430 | 383 |
Total commercial real estate | 1-4 family residential construction and land | New, non-PCI loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans | 136,776 | 105,816 |
Total commercial real estate | 1-4 family residential construction and land | Acquired, non-PCI loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans | 16,555 | 33,831 |
Total commercial | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans | 2,712,673 | 2,790,279 |
Total commercial | Purchased Credit- Impaired | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans | 231,643 | 268,834 |
Total commercial | New, non-PCI loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans | 2,182,116 | 2,184,969 |
Total commercial | Acquired, non-PCI loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans | 298,914 | 336,476 |
Total commercial | Owner occupied commercial real estate | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans | 1,287,811 | 1,321,405 |
Total commercial | Owner occupied commercial real estate | Purchased Credit- Impaired | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans | 158,292 | 179,466 |
Total commercial | Owner occupied commercial real estate | New, non-PCI loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans | 907,374 | 901,957 |
Total commercial | Owner occupied commercial real estate | Acquired, non-PCI loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans | 222,145 | 239,982 |
Total commercial | Commercial and industrial | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans | 1,424,862 | 1,468,874 |
Total commercial | Commercial and industrial | Purchased Credit- Impaired | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans | 73,351 | 89,368 |
Total commercial | Commercial and industrial | New, non-PCI loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans | 1,274,742 | 1,283,012 |
Total commercial | Commercial and industrial | Acquired, non-PCI loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans | 76,769 | 96,494 |
Total consumer | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans | 2,668,103 | 2,671,433 |
Total consumer | Purchased Credit- Impaired | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans | 275,437 | 312,157 |
Total consumer | New, non-PCI loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans | 1,588,579 | 1,497,629 |
Total consumer | Acquired, non-PCI loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans | 804,087 | 861,647 |
Total consumer | 1-4 family residential | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans | 1,782,799 | 1,714,702 |
Total consumer | 1-4 family residential | Purchased Credit- Impaired | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans | 189,953 | 214,959 |
Total consumer | 1-4 family residential | New, non-PCI loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans | 1,108,685 | 994,323 |
Total consumer | 1-4 family residential | Acquired, non-PCI loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans | 484,161 | 505,420 |
Total consumer | Home equity loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans | 489,497 | 507,759 |
Total consumer | Home equity loans | Purchased Credit- Impaired | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans | 60,328 | 66,783 |
Total consumer | Home equity loans | New, non-PCI loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans | 181,931 | 172,883 |
Total consumer | Home equity loans | Acquired, non-PCI loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans | 247,238 | 268,093 |
Total consumer | Other consumer loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans | 395,807 | 448,972 |
Total consumer | Other consumer loans | Purchased Credit- Impaired | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans | 25,156 | 30,415 |
Total consumer | Other consumer loans | New, non-PCI loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans | 297,963 | 330,423 |
Total consumer | Other consumer loans | Acquired, non-PCI loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans | 72,688 | 88,134 |
Other | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans | 238,055 | 228,430 |
Other | Purchased Credit- Impaired | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans | 27,493 | 32,815 |
Other | New, non-PCI loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans | 203,175 | 185,839 |
Other | Acquired, non-PCI loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans | $ 7,387 | $ 9,776 |
Loans - Aging of the Recorded I
Loans - Aging of the Recorded Investment in Past Due Loans, Based on Contractual Terms (Detail) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans, net | $ 7,521,943 | $ 7,350,253 | |
Purchased Credit- Impaired | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Non-accrual | [1] | 0 | 0 |
Loans, net | [1] | 19,641 | 26,953 |
Non-purchased credit impaired loans | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Non-accrual | 13,821 | 11,449 | |
Loans, net | 22,783 | 24,394 | |
30-89 Days Past Due | Purchased Credit- Impaired | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Past due loans | [1] | 9,352 | 11,047 |
30-89 Days Past Due | Non-purchased credit impaired loans | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Past due loans | 8,962 | 12,945 | |
Greater than 90 Days Past Due and Still Accruing/Accreting | Purchased Credit- Impaired | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Past due loans | [1] | 10,289 | 15,906 |
Greater than 90 Days Past Due and Still Accruing/Accreting | Non-purchased credit impaired loans | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Past due loans | 0 | 0 | |
Total commercial real estate | Purchased Credit- Impaired | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Non-accrual | [1] | 0 | 0 |
Loans, net | [1] | 4,060 | 2,877 |
Total commercial real estate | Non-purchased credit impaired loans | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Non-accrual | 2,308 | 2,788 | |
Loans, net | 2,363 | 2,959 | |
Total commercial real estate | 30-89 Days Past Due | Purchased Credit- Impaired | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Past due loans | [1] | 2,708 | 550 |
Total commercial real estate | 30-89 Days Past Due | Non-purchased credit impaired loans | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Past due loans | 55 | 171 | |
Total commercial real estate | Greater than 90 Days Past Due and Still Accruing/Accreting | Purchased Credit- Impaired | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Past due loans | [1] | 1,352 | 2,327 |
Total commercial real estate | Greater than 90 Days Past Due and Still Accruing/Accreting | Non-purchased credit impaired loans | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Past due loans | 0 | 0 | |
Total commercial real estate | Non-owner occupied commercial real estate | Purchased Credit- Impaired | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Non-accrual | [1] | 0 | 0 |
Loans, net | [1] | 2,693 | 1,130 |
Total commercial real estate | Non-owner occupied commercial real estate | Non-purchased credit impaired loans | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Non-accrual | 2,255 | 2,584 | |
Loans, net | 2,255 | 2,584 | |
Total commercial real estate | Non-owner occupied commercial real estate | 30-89 Days Past Due | Purchased Credit- Impaired | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Past due loans | [1] | 2,360 | 0 |
Total commercial real estate | Non-owner occupied commercial real estate | 30-89 Days Past Due | Non-purchased credit impaired loans | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Past due loans | 0 | 0 | |
Total commercial real estate | Non-owner occupied commercial real estate | Greater than 90 Days Past Due and Still Accruing/Accreting | Purchased Credit- Impaired | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Past due loans | [1] | 333 | 1,130 |
Total commercial real estate | Non-owner occupied commercial real estate | Greater than 90 Days Past Due and Still Accruing/Accreting | Non-purchased credit impaired loans | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Past due loans | 0 | 0 | |
Total commercial real estate | Other commercial construction and land | Purchased Credit- Impaired | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Non-accrual | [1] | 0 | 0 |
Loans, net | [1] | 1,228 | 1,327 |
Total commercial real estate | Other commercial construction and land | Non-purchased credit impaired loans | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Non-accrual | 53 | 204 | |
Loans, net | 108 | 227 | |
Total commercial real estate | Other commercial construction and land | 30-89 Days Past Due | Purchased Credit- Impaired | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Past due loans | [1] | 348 | 550 |
Total commercial real estate | Other commercial construction and land | 30-89 Days Past Due | Non-purchased credit impaired loans | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Past due loans | 55 | 23 | |
Total commercial real estate | Other commercial construction and land | Greater than 90 Days Past Due and Still Accruing/Accreting | Purchased Credit- Impaired | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Past due loans | [1] | 880 | 777 |
Total commercial real estate | Other commercial construction and land | Greater than 90 Days Past Due and Still Accruing/Accreting | Non-purchased credit impaired loans | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Past due loans | 0 | 0 | |
Total commercial real estate | Multifamily commercial real estate | Purchased Credit- Impaired | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Non-accrual | [1] | 0 | 0 |
Loans, net | [1] | 139 | 420 |
Total commercial real estate | Multifamily commercial real estate | Non-purchased credit impaired loans | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Non-accrual | 0 | 0 | |
Loans, net | 0 | 0 | |
Total commercial real estate | Multifamily commercial real estate | 30-89 Days Past Due | Purchased Credit- Impaired | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Past due loans | [1] | 0 | 0 |
Total commercial real estate | Multifamily commercial real estate | 30-89 Days Past Due | Non-purchased credit impaired loans | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Past due loans | 0 | 0 | |
Total commercial real estate | Multifamily commercial real estate | Greater than 90 Days Past Due and Still Accruing/Accreting | Purchased Credit- Impaired | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Past due loans | [1] | 139 | 420 |
Total commercial real estate | Multifamily commercial real estate | Greater than 90 Days Past Due and Still Accruing/Accreting | Non-purchased credit impaired loans | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Past due loans | 0 | 0 | |
Total commercial real estate | 1-4 family residential construction and land | Purchased Credit- Impaired | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Non-accrual | [1] | 0 | 0 |
Loans, net | [1] | 0 | 0 |
Total commercial real estate | 1-4 family residential construction and land | Non-purchased credit impaired loans | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Non-accrual | 0 | 0 | |
Loans, net | 0 | 148 | |
Total commercial real estate | 1-4 family residential construction and land | 30-89 Days Past Due | Purchased Credit- Impaired | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Past due loans | [1] | 0 | 0 |
Total commercial real estate | 1-4 family residential construction and land | 30-89 Days Past Due | Non-purchased credit impaired loans | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Past due loans | 0 | 148 | |
Total commercial real estate | 1-4 family residential construction and land | Greater than 90 Days Past Due and Still Accruing/Accreting | Purchased Credit- Impaired | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Past due loans | [1] | 0 | 0 |
Total commercial real estate | 1-4 family residential construction and land | Greater than 90 Days Past Due and Still Accruing/Accreting | Non-purchased credit impaired loans | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Past due loans | 0 | 0 | |
Total commercial | Purchased Credit- Impaired | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Non-accrual | [1] | 0 | 0 |
Loans, net | [1] | 4,957 | 6,721 |
Total commercial | Non-purchased credit impaired loans | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Non-accrual | 5,151 | 3,648 | |
Loans, net | 5,292 | 6,450 | |
Total commercial | 30-89 Days Past Due | Purchased Credit- Impaired | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Past due loans | [1] | 1,252 | 2,436 |
Total commercial | 30-89 Days Past Due | Non-purchased credit impaired loans | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Past due loans | 141 | 2,802 | |
Total commercial | Greater than 90 Days Past Due and Still Accruing/Accreting | Purchased Credit- Impaired | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Past due loans | [1] | 3,705 | 4,285 |
Total commercial | Greater than 90 Days Past Due and Still Accruing/Accreting | Non-purchased credit impaired loans | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Past due loans | 0 | 0 | |
Total commercial | Owner occupied commercial real estate | Purchased Credit- Impaired | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Non-accrual | [1] | 0 | 0 |
Loans, net | [1] | 4,400 | 5,620 |
Total commercial | Owner occupied commercial real estate | Non-purchased credit impaired loans | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Non-accrual | 4,367 | 2,950 | |
Loans, net | 4,407 | 5,583 | |
Total commercial | Owner occupied commercial real estate | 30-89 Days Past Due | Purchased Credit- Impaired | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Past due loans | [1] | 1,250 | 1,844 |
Total commercial | Owner occupied commercial real estate | 30-89 Days Past Due | Non-purchased credit impaired loans | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Past due loans | 40 | 2,633 | |
Total commercial | Owner occupied commercial real estate | Greater than 90 Days Past Due and Still Accruing/Accreting | Purchased Credit- Impaired | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Past due loans | [1] | 3,150 | 3,776 |
Total commercial | Owner occupied commercial real estate | Greater than 90 Days Past Due and Still Accruing/Accreting | Non-purchased credit impaired loans | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Past due loans | 0 | 0 | |
Total commercial | Commercial and industrial | Purchased Credit- Impaired | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Non-accrual | [1] | 0 | 0 |
Loans, net | [1] | 557 | 1,101 |
Total commercial | Commercial and industrial | Non-purchased credit impaired loans | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Non-accrual | 784 | 698 | |
Loans, net | 885 | 867 | |
Total commercial | Commercial and industrial | 30-89 Days Past Due | Purchased Credit- Impaired | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Past due loans | [1] | 2 | 592 |
Total commercial | Commercial and industrial | 30-89 Days Past Due | Non-purchased credit impaired loans | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Past due loans | 101 | 169 | |
Total commercial | Commercial and industrial | Greater than 90 Days Past Due and Still Accruing/Accreting | Purchased Credit- Impaired | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Past due loans | [1] | 555 | 509 |
Total commercial | Commercial and industrial | Greater than 90 Days Past Due and Still Accruing/Accreting | Non-purchased credit impaired loans | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Past due loans | 0 | 0 | |
Total consumer | Purchased Credit- Impaired | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Non-accrual | [1] | 0 | 0 |
Loans, net | [1] | 9,900 | 16,552 |
Total consumer | Non-purchased credit impaired loans | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Non-accrual | 6,362 | 5,013 | |
Loans, net | 15,128 | 14,985 | |
Total consumer | 30-89 Days Past Due | Purchased Credit- Impaired | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Past due loans | [1] | 5,392 | 7,974 |
Total consumer | 30-89 Days Past Due | Non-purchased credit impaired loans | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Past due loans | 8,766 | 9,972 | |
Total consumer | Greater than 90 Days Past Due and Still Accruing/Accreting | Purchased Credit- Impaired | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Past due loans | [1] | 4,508 | 8,578 |
Total consumer | Greater than 90 Days Past Due and Still Accruing/Accreting | Non-purchased credit impaired loans | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Past due loans | 0 | 0 | |
Total consumer | 1-4 family residential | Purchased Credit- Impaired | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Non-accrual | [1] | 0 | 0 |
Loans, net | [1] | 4,111 | 10,348 |
Total consumer | 1-4 family residential | Non-purchased credit impaired loans | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Non-accrual | 1,557 | 1,048 | |
Loans, net | 2,319 | 1,541 | |
Total consumer | 1-4 family residential | 30-89 Days Past Due | Purchased Credit- Impaired | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Past due loans | [1] | 1,878 | 4,288 |
Total consumer | 1-4 family residential | 30-89 Days Past Due | Non-purchased credit impaired loans | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Past due loans | 762 | 493 | |
Total consumer | 1-4 family residential | Greater than 90 Days Past Due and Still Accruing/Accreting | Purchased Credit- Impaired | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Past due loans | [1] | 2,233 | 6,060 |
Total consumer | 1-4 family residential | Greater than 90 Days Past Due and Still Accruing/Accreting | Non-purchased credit impaired loans | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Past due loans | 0 | 0 | |
Total consumer | Home equity loans | Purchased Credit- Impaired | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Non-accrual | [1] | 0 | 0 |
Loans, net | [1] | 1,779 | 2,598 |
Total consumer | Home equity loans | Non-purchased credit impaired loans | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Non-accrual | 2,186 | 1,568 | |
Loans, net | 4,275 | 2,904 | |
Total consumer | Home equity loans | 30-89 Days Past Due | Purchased Credit- Impaired | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Past due loans | [1] | 993 | 1,128 |
Total consumer | Home equity loans | 30-89 Days Past Due | Non-purchased credit impaired loans | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Past due loans | 2,089 | 1,336 | |
Total consumer | Home equity loans | Greater than 90 Days Past Due and Still Accruing/Accreting | Purchased Credit- Impaired | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Past due loans | [1] | 786 | 1,470 |
Total consumer | Home equity loans | Greater than 90 Days Past Due and Still Accruing/Accreting | Non-purchased credit impaired loans | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Past due loans | 0 | 0 | |
Total consumer | Other consumer loans | Purchased Credit- Impaired | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Non-accrual | [1] | 0 | 0 |
Loans, net | [1] | 4,010 | 3,606 |
Total consumer | Other consumer loans | Non-purchased credit impaired loans | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Non-accrual | 2,619 | 2,397 | |
Loans, net | 8,534 | 10,540 | |
Total consumer | Other consumer loans | 30-89 Days Past Due | Purchased Credit- Impaired | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Past due loans | [1] | 2,521 | 2,558 |
Total consumer | Other consumer loans | 30-89 Days Past Due | Non-purchased credit impaired loans | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Past due loans | 5,915 | 8,143 | |
Total consumer | Other consumer loans | Greater than 90 Days Past Due and Still Accruing/Accreting | Purchased Credit- Impaired | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Past due loans | [1] | 1,489 | 1,048 |
Total consumer | Other consumer loans | Greater than 90 Days Past Due and Still Accruing/Accreting | Non-purchased credit impaired loans | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Past due loans | 0 | 0 | |
Other | Purchased Credit- Impaired | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Non-accrual | [1] | 0 | 0 |
Loans, net | [1] | 724 | 803 |
Other | Non-purchased credit impaired loans | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Non-accrual | 0 | 0 | |
Loans, net | 0 | 0 | |
Other | 30-89 Days Past Due | Purchased Credit- Impaired | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Past due loans | [1] | 0 | 87 |
Other | 30-89 Days Past Due | Non-purchased credit impaired loans | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Past due loans | 0 | 0 | |
Other | Greater than 90 Days Past Due and Still Accruing/Accreting | Purchased Credit- Impaired | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Past due loans | [1] | 724 | 716 |
Other | Greater than 90 Days Past Due and Still Accruing/Accreting | Non-purchased credit impaired loans | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Past due loans | $ 0 | $ 0 | |
[1] | Pooled PCI loans are not classified as nonaccrual as they are considered to be accruing because their interest income relates to the accretable yield recognized under accounting for purchased credit-impaired loans and not to contractual interest payments. |
Loans - Loans, Excluding PCI Lo
Loans - Loans, Excluding PCI Loans by Internal Ratings (Detail) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Financing Receivable, Recorded Investment [Line Items] | ||
Total | $ 6,746,515 | $ 6,469,867 |
Pass | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 6,677,868 | 6,409,504 |
Special Mention | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 32,711 | 29,131 |
Substandard Accruing | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 22,115 | 19,783 |
Substandard Non-accrual | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 13,821 | 11,449 |
Doubtful | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 0 | 0 |
Total commercial real estate | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 1,662,257 | 1,393,531 |
Total commercial real estate | Pass | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 1,657,459 | 1,388,373 |
Total commercial real estate | Special Mention | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 2,294 | 1,251 |
Total commercial real estate | Substandard Accruing | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 196 | 1,119 |
Total commercial real estate | Substandard Non-accrual | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 2,308 | 2,788 |
Total commercial real estate | Doubtful | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 0 | 0 |
Total commercial real estate | Non-owner occupied commercial real estate | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 1,048,972 | 901,348 |
Total commercial real estate | Non-owner occupied commercial real estate | Pass | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 1,044,423 | 896,394 |
Total commercial real estate | Non-owner occupied commercial real estate | Special Mention | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 2,294 | 1,251 |
Total commercial real estate | Non-owner occupied commercial real estate | Substandard Accruing | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 0 | 1,119 |
Total commercial real estate | Non-owner occupied commercial real estate | Substandard Non-accrual | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 2,255 | 2,584 |
Total commercial real estate | Non-owner occupied commercial real estate | Doubtful | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 0 | 0 |
Total commercial real estate | Other commercial construction and land | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 328,897 | 255,734 |
Total commercial real estate | Other commercial construction and land | Pass | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 328,844 | 255,530 |
Total commercial real estate | Other commercial construction and land | Special Mention | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 0 | 0 |
Total commercial real estate | Other commercial construction and land | Substandard Accruing | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 0 | 0 |
Total commercial real estate | Other commercial construction and land | Substandard Non-accrual | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 53 | 204 |
Total commercial real estate | Other commercial construction and land | Doubtful | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 0 | 0 |
Total commercial real estate | Multifamily commercial real estate | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 131,057 | 96,802 |
Total commercial real estate | Multifamily commercial real estate | Pass | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 130,861 | 96,802 |
Total commercial real estate | Multifamily commercial real estate | Special Mention | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 0 | 0 |
Total commercial real estate | Multifamily commercial real estate | Substandard Accruing | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 196 | 0 |
Total commercial real estate | Multifamily commercial real estate | Substandard Non-accrual | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 0 | 0 |
Total commercial real estate | Multifamily commercial real estate | Doubtful | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 0 | 0 |
Total commercial real estate | 1-4 family residential construction and land | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 153,331 | 139,647 |
Total commercial real estate | 1-4 family residential construction and land | Pass | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 153,331 | 139,647 |
Total commercial real estate | 1-4 family residential construction and land | Special Mention | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 0 | 0 |
Total commercial real estate | 1-4 family residential construction and land | Substandard Accruing | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 0 | 0 |
Total commercial real estate | 1-4 family residential construction and land | Substandard Non-accrual | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 0 | 0 |
Total commercial real estate | 1-4 family residential construction and land | Doubtful | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 0 | 0 |
Total commercial | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 2,481,030 | 2,521,445 |
Total commercial | Pass | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 2,428,821 | 2,475,866 |
Total commercial | Special Mention | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 28,575 | 26,919 |
Total commercial | Substandard Accruing | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 18,483 | 15,012 |
Total commercial | Substandard Non-accrual | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 5,151 | 3,648 |
Total commercial | Doubtful | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 0 | 0 |
Total commercial | Owner occupied commercial real estate | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 1,129,519 | 1,141,939 |
Total commercial | Owner occupied commercial real estate | Pass | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 1,094,739 | 1,124,285 |
Total commercial | Owner occupied commercial real estate | Special Mention | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 27,128 | 10,210 |
Total commercial | Owner occupied commercial real estate | Substandard Accruing | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 3,285 | 4,494 |
Total commercial | Owner occupied commercial real estate | Substandard Non-accrual | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 4,367 | 2,950 |
Total commercial | Owner occupied commercial real estate | Doubtful | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 0 | 0 |
Total commercial | Commercial and industrial | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 1,351,511 | 1,379,506 |
Total commercial | Commercial and industrial | Pass | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 1,334,082 | 1,351,581 |
Total commercial | Commercial and industrial | Special Mention | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 1,447 | 16,709 |
Total commercial | Commercial and industrial | Substandard Accruing | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 15,198 | 10,518 |
Total commercial | Commercial and industrial | Substandard Non-accrual | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 784 | 698 |
Total commercial | Commercial and industrial | Doubtful | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 0 | 0 |
Total consumer | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 2,392,666 | 2,359,276 |
Total consumer | Pass | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 2,381,026 | 2,349,650 |
Total consumer | Special Mention | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 1,842 | 961 |
Total consumer | Substandard Accruing | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 3,436 | 3,652 |
Total consumer | Substandard Non-accrual | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 6,362 | 5,013 |
Total consumer | Doubtful | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 0 | 0 |
Total consumer | 1-4 family residential | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 1,592,846 | 1,499,743 |
Total consumer | 1-4 family residential | Pass | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 1,587,587 | 1,495,653 |
Total consumer | 1-4 family residential | Special Mention | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 1,586 | 899 |
Total consumer | 1-4 family residential | Substandard Accruing | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 2,116 | 2,143 |
Total consumer | 1-4 family residential | Substandard Non-accrual | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 1,557 | 1,048 |
Total consumer | 1-4 family residential | Doubtful | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 0 | 0 |
Total consumer | Home equity loans | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 429,169 | 440,976 |
Total consumer | Home equity loans | Pass | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 425,468 | 437,880 |
Total consumer | Home equity loans | Special Mention | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 256 | 62 |
Total consumer | Home equity loans | Substandard Accruing | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 1,259 | 1,466 |
Total consumer | Home equity loans | Substandard Non-accrual | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 2,186 | 1,568 |
Total consumer | Home equity loans | Doubtful | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 0 | 0 |
Total consumer | Other consumer loans | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 370,651 | 418,557 |
Total consumer | Other consumer loans | Pass | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 367,971 | 416,117 |
Total consumer | Other consumer loans | Special Mention | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 0 | 0 |
Total consumer | Other consumer loans | Substandard Accruing | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 61 | 43 |
Total consumer | Other consumer loans | Substandard Non-accrual | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 2,619 | 2,397 |
Total consumer | Other consumer loans | Doubtful | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 0 | 0 |
Other | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 210,562 | 195,615 |
Other | Pass | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 210,562 | 195,615 |
Other | Special Mention | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 0 | 0 |
Other | Substandard Accruing | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 0 | 0 |
Other | Substandard Non-accrual | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 0 | 0 |
Other | Doubtful | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | $ 0 | $ 0 |
Allowance for Loan and Lease 54
Allowance for Loan and Lease Losses - Allowance for Loan and Lease Losses (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
Allowance for Loan and Lease Losses [Roll Forward] | ||||
Balance, beginning of period | $ 43,891 | $ 45,263 | $ 43,065 | $ 45,034 |
Provision (reversal) for loan losses | 2,303 | 1,172 | 5,695 | 2,547 |
Loans charged off | (2,502) | (2,316) | (5,685) | (4,140) |
Recoveries of non-PCI loans previously charged-off | 946 | 764 | 1,563 | 1,442 |
Balance, end of period | 44,638 | 44,883 | 44,638 | 44,883 |
Non-PCI Loans | ||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||
Provision (reversal) for loan losses | 1,485 | 1,950 | 4,691 | 3,334 |
Loans charged off | (2,502) | (2,316) | (5,685) | (4,140) |
Purchased Credit- Impaired | ||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||
Balance, beginning of period | 23,201 | 24,479 | 23,015 | 24,488 |
Provision (reversal) for loan losses | 818 | (778) | 1,004 | (787) |
Loans charged off | 0 | 0 | 0 | 0 |
Recoveries of non-PCI loans previously charged-off | 0 | 0 | 0 | 0 |
Balance, end of period | $ 24,019 | $ 23,701 | $ 24,019 | $ 23,701 |
Allowance for Loan and Lease 55
Allowance for Loan and Lease Losses - Roll Forward of Allowance for Loan and Lease Losses (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
Allowance for Loan and Lease Losses [Roll Forward] | ||||
Balance, beginning of period | $ 43,891 | $ 45,263 | $ 43,065 | $ 45,034 |
Provision/ (Reversals) | 2,303 | 1,172 | 5,695 | 2,547 |
Net(Charge-offs)/ Recoveries | (1,556) | (1,552) | (4,122) | (2,698) |
Balance, end of period | 44,638 | 44,883 | 44,638 | 44,883 |
Total commercial real estate | ||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||
Balance, beginning of period | 15,821 | 16,334 | 15,518 | 15,978 |
Provision/ (Reversals) | (2,382) | (437) | (2,084) | (92) |
Net(Charge-offs)/ Recoveries | 112 | 10 | 117 | 21 |
Balance, end of period | 13,551 | 15,907 | 13,551 | 15,907 |
Total commercial real estate | Non-owner occupied commercial real estate | ||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||
Balance, beginning of period | 1,241 | 1,671 | 1,989 | 1,598 |
Provision/ (Reversals) | 8 | 366 | (741) | 432 |
Net(Charge-offs)/ Recoveries | 3 | 2 | 4 | 9 |
Balance, end of period | 1,252 | 2,039 | 1,252 | 2,039 |
Total commercial real estate | Other commercial construction and land | ||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||
Balance, beginning of period | 13,668 | 13,196 | 12,692 | 12,919 |
Provision/ (Reversals) | (2,260) | (445) | (1,286) | (171) |
Net(Charge-offs)/ Recoveries | 107 | 6 | 109 | 9 |
Balance, end of period | 11,515 | 12,757 | 11,515 | 12,757 |
Total commercial real estate | Multifamily commercial real estate | ||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||
Balance, beginning of period | 171 | 182 | 171 | 186 |
Provision/ (Reversals) | 22 | (29) | 22 | (33) |
Net(Charge-offs)/ Recoveries | 0 | 0 | 0 | 0 |
Balance, end of period | 193 | 153 | 193 | 153 |
Total commercial real estate | 1-4 family residential construction and land | ||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||
Balance, beginning of period | 741 | 1,285 | 666 | 1,275 |
Provision/ (Reversals) | (152) | (329) | (79) | (320) |
Net(Charge-offs)/ Recoveries | 2 | 2 | 4 | 3 |
Balance, end of period | 591 | 958 | 591 | 958 |
Total commercial | ||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||
Balance, beginning of period | 10,404 | 11,816 | 10,906 | 11,132 |
Provision/ (Reversals) | 423 | 1,025 | 133 | 1,752 |
Net(Charge-offs)/ Recoveries | 67 | (482) | (145) | (525) |
Balance, end of period | 10,894 | 12,359 | 10,894 | 12,359 |
Total commercial | Owner occupied commercial real estate | ||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||
Balance, beginning of period | 1,486 | 1,687 | 1,397 | 1,505 |
Provision/ (Reversals) | (197) | (128) | (110) | 134 |
Net(Charge-offs)/ Recoveries | 35 | 0 | 37 | (80) |
Balance, end of period | 1,324 | 1,559 | 1,324 | 1,559 |
Total commercial | Commercial and industrial loans | ||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||
Balance, beginning of period | 8,918 | 10,129 | 9,509 | 9,627 |
Provision/ (Reversals) | 620 | 1,153 | 243 | 1,618 |
Net(Charge-offs)/ Recoveries | 32 | (482) | (182) | (445) |
Balance, end of period | 9,570 | 10,800 | 9,570 | 10,800 |
Total consumer | ||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||
Balance, beginning of period | 17,369 | 16,811 | 16,292 | 17,661 |
Provision/ (Reversals) | 3,887 | 353 | 6,988 | 286 |
Net(Charge-offs)/ Recoveries | (1,421) | (851) | (3,445) | (1,634) |
Balance, end of period | 19,835 | 16,313 | 19,835 | 16,313 |
Total consumer | 1-4 family residential | ||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||
Balance, beginning of period | 8,880 | 10,374 | 9,188 | 11,057 |
Provision/ (Reversals) | 488 | (585) | 180 | (1,273) |
Net(Charge-offs)/ Recoveries | 48 | 175 | 48 | 180 |
Balance, end of period | 9,416 | 9,964 | 9,416 | 9,964 |
Total consumer | Home equity loans | ||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||
Balance, beginning of period | 1,079 | 1,595 | 1,214 | 1,853 |
Provision/ (Reversals) | 159 | (223) | (20) | (593) |
Net(Charge-offs)/ Recoveries | (41) | (11) | 3 | 101 |
Balance, end of period | 1,197 | 1,361 | 1,197 | 1,361 |
Total consumer | Other consumer loans | ||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||
Balance, beginning of period | 7,410 | 4,842 | 5,890 | 4,751 |
Provision/ (Reversals) | 3,240 | 1,161 | 6,828 | 2,152 |
Net(Charge-offs)/ Recoveries | (1,428) | (1,015) | (3,496) | (1,915) |
Balance, end of period | 9,222 | 4,988 | 9,222 | 4,988 |
Other | ||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||
Balance, beginning of period | 297 | 302 | 349 | 263 |
Provision/ (Reversals) | 375 | 231 | 658 | 601 |
Net(Charge-offs)/ Recoveries | (314) | (229) | (649) | (560) |
Balance, end of period | $ 358 | $ 304 | $ 358 | $ 304 |
Allowance for Loan and Lease 56
Allowance for Loan and Lease Losses - Roll forward of Allowance for Loan and Lease Losses for PCI and Non-PCI Loans (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
Allowance for Loan and Lease Losses [Roll Forward] | ||||
Balance, beginning of period | $ 43,891 | $ 45,263 | $ 43,065 | $ 45,034 |
Charge-offs | (2,502) | (2,316) | (5,685) | (4,140) |
Recoveries | 946 | 764 | 1,563 | 1,442 |
Net Charge Offs And Recoveries | (1,556) | (1,552) | (4,122) | (2,698) |
Provision (reversal) for loan losses | 2,303 | 1,172 | 5,695 | 2,547 |
Balance, end of period | 44,638 | 44,883 | 44,638 | 44,883 |
Purchased Credit- Impaired | ||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||
Balance, beginning of period | 23,201 | 24,479 | 23,015 | 24,488 |
Charge-offs | 0 | 0 | 0 | 0 |
Recoveries | 0 | 0 | 0 | 0 |
Net Charge Offs And Recoveries | 0 | 0 | 0 | 0 |
Provision (reversal) for loan losses | 818 | (778) | 1,004 | (787) |
Balance, end of period | 24,019 | 23,701 | 24,019 | 23,701 |
Non-purchased credit impaired loans | ||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||
Balance, beginning of period | 20,690 | 20,784 | 20,050 | 20,546 |
Charge-offs | (2,502) | (2,316) | (5,685) | (4,140) |
Recoveries | 946 | 764 | 1,563 | 1,442 |
Net Charge Offs And Recoveries | (1,556) | (1,552) | (4,122) | (2,698) |
Provision (reversal) for loan losses | 1,485 | 1,950 | 4,691 | 3,334 |
Balance, end of period | 20,619 | 21,182 | 20,619 | 21,182 |
Total commercial real estate | ||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||
Balance, beginning of period | 15,821 | 16,334 | 15,518 | 15,978 |
Charge-offs | (7) | (1) | (7) | (2) |
Recoveries | 119 | 11 | 124 | 23 |
Provision (reversal) for loan losses | (2,382) | (437) | (2,084) | (92) |
Balance, end of period | 13,551 | 15,907 | 13,551 | 15,907 |
Total commercial real estate | Purchased Credit- Impaired | ||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||
Charge-offs | 0 | 0 | 0 | 0 |
Recoveries | 0 | 0 | 0 | 0 |
Provision (reversal) for loan losses | (2,096) | (484) | (1,776) | (12) |
Total commercial real estate | Non-purchased credit impaired loans | ||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||
Charge-offs | (7) | (1) | (7) | (2) |
Recoveries | 119 | 11 | 124 | 23 |
Provision (reversal) for loan losses | (286) | 47 | (308) | (80) |
Total commercial real estate | Non-owner occupied commercial real estate | ||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||
Balance, beginning of period | 1,241 | 1,671 | 1,989 | 1,598 |
Charge-offs | 0 | (1) | 0 | (2) |
Recoveries | 3 | 3 | 4 | 11 |
Provision (reversal) for loan losses | 8 | 366 | (741) | 432 |
Balance, end of period | 1,252 | 2,039 | 1,252 | 2,039 |
Total commercial real estate | Non-owner occupied commercial real estate | Purchased Credit- Impaired | ||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||
Charge-offs | 0 | 0 | 0 | 0 |
Recoveries | 0 | 0 | 0 | 0 |
Provision (reversal) for loan losses | 103 | 542 | (675) | 659 |
Total commercial real estate | Non-owner occupied commercial real estate | Non-purchased credit impaired loans | ||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||
Charge-offs | 0 | (1) | 0 | (2) |
Recoveries | 3 | 3 | 4 | 11 |
Provision (reversal) for loan losses | (95) | (176) | (66) | (227) |
Total commercial real estate | Other commercial construction and land | ||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||
Balance, beginning of period | 13,668 | 13,196 | 12,692 | 12,919 |
Charge-offs | (7) | 0 | (7) | 0 |
Recoveries | 114 | 6 | 116 | 9 |
Provision (reversal) for loan losses | (2,260) | (445) | (1,286) | (171) |
Balance, end of period | 11,515 | 12,757 | 11,515 | 12,757 |
Total commercial real estate | Other commercial construction and land | Purchased Credit- Impaired | ||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||
Charge-offs | 0 | 0 | 0 | 0 |
Recoveries | 0 | 0 | 0 | 0 |
Provision (reversal) for loan losses | (2,208) | (631) | (1,084) | (254) |
Total commercial real estate | Other commercial construction and land | Non-purchased credit impaired loans | ||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||
Charge-offs | (7) | 0 | (7) | 0 |
Recoveries | 114 | 6 | 116 | 9 |
Provision (reversal) for loan losses | (52) | 186 | (202) | 83 |
Total commercial real estate | Multifamily commercial real estate | ||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||
Balance, beginning of period | 171 | 182 | 171 | 186 |
Charge-offs | 0 | 0 | 0 | 0 |
Recoveries | 0 | 0 | 0 | 0 |
Provision (reversal) for loan losses | 22 | (29) | 22 | (33) |
Balance, end of period | 193 | 153 | 193 | 153 |
Total commercial real estate | Multifamily commercial real estate | Purchased Credit- Impaired | ||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||
Charge-offs | 0 | 0 | 0 | 0 |
Recoveries | 0 | 0 | 0 | 0 |
Provision (reversal) for loan losses | 9 | (21) | (17) | (11) |
Total commercial real estate | Multifamily commercial real estate | Non-purchased credit impaired loans | ||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||
Charge-offs | 0 | 0 | 0 | 0 |
Recoveries | 0 | 0 | 0 | 0 |
Provision (reversal) for loan losses | 13 | (8) | 39 | (22) |
Total commercial real estate | 1-4 family residential construction and land | ||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||
Balance, beginning of period | 741 | 1,285 | 666 | 1,275 |
Charge-offs | 0 | 0 | 0 | 0 |
Recoveries | 2 | 2 | 4 | 3 |
Provision (reversal) for loan losses | (152) | (329) | (79) | (320) |
Balance, end of period | 591 | 958 | 591 | 958 |
Total commercial real estate | 1-4 family residential construction and land | Purchased Credit- Impaired | ||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||
Charge-offs | 0 | 0 | 0 | 0 |
Recoveries | 0 | 0 | 0 | 0 |
Provision (reversal) for loan losses | 0 | (374) | 0 | (406) |
Total commercial real estate | 1-4 family residential construction and land | Non-purchased credit impaired loans | ||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||
Charge-offs | 0 | 0 | 0 | 0 |
Recoveries | 2 | 2 | 4 | 3 |
Provision (reversal) for loan losses | (152) | 45 | (79) | 86 |
Total commercial | ||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||
Balance, beginning of period | 10,404 | 11,816 | 10,906 | 11,132 |
Charge-offs | (12) | (503) | (258) | (584) |
Recoveries | 79 | 21 | 113 | 59 |
Provision (reversal) for loan losses | 423 | 1,025 | 133 | 1,752 |
Balance, end of period | 10,894 | 12,359 | 10,894 | 12,359 |
Total commercial | Purchased Credit- Impaired | ||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||
Charge-offs | 0 | 0 | 0 | 0 |
Recoveries | 0 | 0 | 0 | 0 |
Provision (reversal) for loan losses | 484 | 445 | 736 | 728 |
Total commercial | Non-purchased credit impaired loans | ||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||
Charge-offs | (12) | (503) | (258) | (584) |
Recoveries | 79 | 21 | 113 | 59 |
Provision (reversal) for loan losses | (61) | 580 | (603) | 1,024 |
Total commercial | Owner occupied commercial real estate | ||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||
Balance, beginning of period | 1,486 | 1,687 | 1,397 | 1,505 |
Charge-offs | 0 | 0 | (6) | (80) |
Recoveries | 35 | 0 | 43 | 0 |
Provision (reversal) for loan losses | (197) | (128) | (110) | 134 |
Balance, end of period | 1,324 | 1,559 | 1,324 | 1,559 |
Total commercial | Owner occupied commercial real estate | Purchased Credit- Impaired | ||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||
Charge-offs | 0 | 0 | 0 | 0 |
Recoveries | 0 | 0 | 0 | 0 |
Provision (reversal) for loan losses | 30 | (28) | (29) | 96 |
Total commercial | Owner occupied commercial real estate | Non-purchased credit impaired loans | ||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||
Charge-offs | 0 | 0 | (6) | (80) |
Recoveries | 35 | 0 | 43 | 0 |
Provision (reversal) for loan losses | (227) | (100) | (81) | 38 |
Total commercial | Commercial and industrial | ||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||
Balance, beginning of period | 8,918 | 10,129 | 9,509 | 9,627 |
Charge-offs | (12) | (503) | (252) | (504) |
Recoveries | 44 | 21 | 70 | 59 |
Provision (reversal) for loan losses | 620 | 1,153 | 243 | 1,618 |
Balance, end of period | 9,570 | 10,800 | 9,570 | 10,800 |
Total commercial | Commercial and industrial | Purchased Credit- Impaired | ||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||
Charge-offs | 0 | 0 | 0 | 0 |
Recoveries | 0 | 0 | 0 | 0 |
Provision (reversal) for loan losses | 454 | 473 | 765 | 632 |
Total commercial | Commercial and industrial | Non-purchased credit impaired loans | ||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||
Charge-offs | (12) | (503) | (252) | (504) |
Recoveries | 44 | 21 | 70 | 59 |
Provision (reversal) for loan losses | 166 | 680 | (522) | 986 |
Total consumer | ||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||
Balance, beginning of period | 17,369 | 16,811 | 16,292 | 17,661 |
Charge-offs | (1,990) | (1,324) | (4,353) | (2,514) |
Recoveries | 569 | 473 | 908 | 880 |
Provision (reversal) for loan losses | 3,887 | 353 | 6,988 | 286 |
Balance, end of period | 19,835 | 16,313 | 19,835 | 16,313 |
Total consumer | Purchased Credit- Impaired | ||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||
Charge-offs | 0 | 0 | 0 | 0 |
Recoveries | 0 | 0 | 0 | 0 |
Provision (reversal) for loan losses | 2,374 | (716) | 2,021 | (1,512) |
Total consumer | Non-purchased credit impaired loans | ||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||
Charge-offs | (1,990) | (1,324) | (4,353) | (2,514) |
Recoveries | 569 | 473 | 908 | 880 |
Provision (reversal) for loan losses | 1,513 | 1,069 | 4,967 | 1,798 |
Total consumer | 1-4 family residential | ||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||
Balance, beginning of period | 8,880 | 10,374 | 9,188 | 11,057 |
Charge-offs | 0 | 0 | (2) | 0 |
Recoveries | 48 | 175 | 50 | 180 |
Provision (reversal) for loan losses | 488 | (585) | 180 | (1,273) |
Balance, end of period | 9,416 | 9,964 | 9,416 | 9,964 |
Total consumer | 1-4 family residential | Purchased Credit- Impaired | ||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||
Charge-offs | 0 | 0 | 0 | 0 |
Recoveries | 0 | 0 | 0 | 0 |
Provision (reversal) for loan losses | 661 | (400) | 435 | (988) |
Total consumer | 1-4 family residential | Non-purchased credit impaired loans | ||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||
Charge-offs | 0 | 0 | (2) | 0 |
Recoveries | 48 | 175 | 50 | 180 |
Provision (reversal) for loan losses | (173) | (185) | (255) | (285) |
Total consumer | Home equity loans | ||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||
Balance, beginning of period | 1,079 | 1,595 | 1,214 | 1,853 |
Charge-offs | (117) | (113) | (156) | (174) |
Recoveries | 76 | 102 | 159 | 275 |
Provision (reversal) for loan losses | 159 | (223) | (20) | (593) |
Balance, end of period | 1,197 | 1,361 | 1,197 | 1,361 |
Total consumer | Home equity loans | Purchased Credit- Impaired | ||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||
Charge-offs | 0 | 0 | 0 | 0 |
Recoveries | 0 | 0 | 0 | 0 |
Provision (reversal) for loan losses | 161 | (294) | (5) | (509) |
Total consumer | Home equity loans | Non-purchased credit impaired loans | ||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||
Charge-offs | (117) | (113) | (156) | (174) |
Recoveries | 76 | 102 | 159 | 275 |
Provision (reversal) for loan losses | (2) | 71 | (15) | (84) |
Total consumer | Other consumer loans | ||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||
Balance, beginning of period | 7,410 | 4,842 | 5,890 | 4,751 |
Charge-offs | (1,873) | (1,211) | (4,195) | (2,340) |
Recoveries | 445 | 196 | 699 | 425 |
Provision (reversal) for loan losses | 3,240 | 1,161 | 6,828 | 2,152 |
Balance, end of period | 9,222 | 4,988 | 9,222 | 4,988 |
Total consumer | Other consumer loans | Purchased Credit- Impaired | ||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||
Charge-offs | 0 | 0 | 0 | 0 |
Recoveries | 0 | 0 | 0 | 0 |
Provision (reversal) for loan losses | 1,552 | (22) | 1,591 | (15) |
Total consumer | Other consumer loans | Non-purchased credit impaired loans | ||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||
Charge-offs | (1,873) | (1,211) | (4,195) | (2,340) |
Recoveries | 445 | 196 | 699 | 425 |
Provision (reversal) for loan losses | 1,688 | 1,183 | 5,237 | 2,167 |
Other | ||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||
Balance, beginning of period | 297 | 302 | 349 | 263 |
Charge-offs | (493) | (488) | (1,067) | (1,040) |
Recoveries | 179 | 259 | 418 | 480 |
Provision (reversal) for loan losses | 375 | 231 | 658 | 601 |
Balance, end of period | 358 | 304 | 358 | 304 |
Other | Purchased Credit- Impaired | ||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||
Charge-offs | 0 | 0 | 0 | 0 |
Recoveries | 0 | 0 | 0 | 0 |
Provision (reversal) for loan losses | 56 | (23) | 23 | 9 |
Other | Non-purchased credit impaired loans | ||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||
Charge-offs | (493) | (488) | (1,067) | (1,040) |
Recoveries | 179 | 259 | 418 | 480 |
Provision (reversal) for loan losses | $ 319 | $ 254 | $ 635 | $ 592 |
Allowance for Loan and Lease 57
Allowance for Loan and Lease Losses - Allowance for Loan and Lease Losses and Recorded Investment in Loans by Class of Loans and by Impairment Evaluation (Detail) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Loans, purchase credit-impaired | $ 6,746,515 | $ 6,469,867 | ||
Loans collectively evaluated for impairment, unamortized purchase discounts (Premium) | 17,000 | 20,000 | ||
Purchased Credit- Impaired | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Allowance for loan and lease losses, purchase credit-impaired | 24,019 | 23,015 | ||
Loans, collectively evaluated for impairment | 1,300,000 | 1,600,000 | ||
Loans, purchase credit-impaired | 823,599 | 936,325 | ||
Non-PCI Loans | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Allowance for loan and lease losses, individually evaluated for impairment | 674 | 274 | ||
Allowance for loan and lease losses, collectively evaluated for impairment | 19,945 | 19,776 | ||
Loans, individually evaluated for impairment | 29,940 | 25,157 | ||
Loans, collectively evaluated for impairment | 6,713,042 | [1] | 6,431,836 | [2] |
Total commercial | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Loans, purchase credit-impaired | 2,481,030 | 2,521,445 | ||
Total commercial | Purchased Credit- Impaired | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Allowance for loan and lease losses, purchase credit-impaired | 3,970 | 3,234 | ||
Loans, purchase credit-impaired | 231,643 | 268,834 | ||
Total commercial | Non-PCI Loans | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Allowance for loan and lease losses, individually evaluated for impairment | 401 | 7 | ||
Allowance for loan and lease losses, collectively evaluated for impairment | 6,523 | 7,665 | ||
Loans, individually evaluated for impairment | 22,123 | 18,406 | ||
Loans, collectively evaluated for impairment | 2,458,907 | [1] | 2,503,039 | [2] |
Total commercial | Owner occupied commercial real estate | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Loans, purchase credit-impaired | 1,129,519 | 1,141,939 | ||
Total commercial | Owner occupied commercial real estate | Purchased Credit- Impaired | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Allowance for loan and lease losses, purchase credit-impaired | 226 | 255 | ||
Loans, purchase credit-impaired | 158,292 | 179,466 | ||
Total commercial | Owner occupied commercial real estate | Non-PCI Loans | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Allowance for loan and lease losses, individually evaluated for impairment | 1 | 1 | ||
Allowance for loan and lease losses, collectively evaluated for impairment | 1,097 | 1,141 | ||
Loans, individually evaluated for impairment | 8,591 | 8,858 | ||
Loans, collectively evaluated for impairment | 1,120,928 | [1] | 1,133,081 | [2] |
Total commercial | Commercial and industrial | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Loans, purchase credit-impaired | 1,351,511 | 1,379,506 | ||
Total commercial | Commercial and industrial | Purchased Credit- Impaired | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Allowance for loan and lease losses, purchase credit-impaired | 3,744 | 2,979 | ||
Loans, purchase credit-impaired | 73,351 | 89,368 | ||
Total commercial | Commercial and industrial | Non-PCI Loans | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Allowance for loan and lease losses, individually evaluated for impairment | 400 | 6 | ||
Allowance for loan and lease losses, collectively evaluated for impairment | 5,426 | 6,524 | ||
Loans, individually evaluated for impairment | 13,532 | 9,548 | ||
Loans, collectively evaluated for impairment | 1,337,979 | [1] | 1,369,958 | [2] |
Total commercial real estate | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Loans, purchase credit-impaired | 1,662,257 | 1,393,531 | ||
Total commercial real estate | Purchased Credit- Impaired | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Allowance for loan and lease losses, purchase credit-impaired | 10,370 | 12,146 | ||
Loans, purchase credit-impaired | 289,026 | 322,519 | ||
Total commercial real estate | Non-PCI Loans | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Allowance for loan and lease losses, individually evaluated for impairment | 21 | 20 | ||
Allowance for loan and lease losses, collectively evaluated for impairment | 3,160 | 3,352 | ||
Loans, individually evaluated for impairment | 2,884 | 2,944 | ||
Loans, collectively evaluated for impairment | 1,659,373 | [1] | 1,390,587 | [2] |
Total commercial real estate | Non-owner occupied commercial real estate | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Loans, purchase credit-impaired | 1,048,972 | 901,348 | ||
Total commercial real estate | Non-owner occupied commercial real estate | Purchased Credit- Impaired | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Allowance for loan and lease losses, purchase credit-impaired | 355 | 1,030 | ||
Loans, purchase credit-impaired | 216,604 | 229,535 | ||
Total commercial real estate | Non-owner occupied commercial real estate | Non-PCI Loans | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Allowance for loan and lease losses, individually evaluated for impairment | 0 | 0 | ||
Allowance for loan and lease losses, collectively evaluated for impairment | 897 | 959 | ||
Loans, individually evaluated for impairment | 2,764 | 2,835 | ||
Loans, collectively evaluated for impairment | 1,046,208 | [1] | 898,513 | [2] |
Total commercial real estate | Other commercial construction and land | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Loans, purchase credit-impaired | 328,897 | 255,734 | ||
Total commercial real estate | Other commercial construction and land | Purchased Credit- Impaired | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Allowance for loan and lease losses, purchase credit-impaired | 9,910 | 10,994 | ||
Loans, purchase credit-impaired | 55,684 | 71,888 | ||
Total commercial real estate | Other commercial construction and land | Non-PCI Loans | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Allowance for loan and lease losses, individually evaluated for impairment | 21 | 20 | ||
Allowance for loan and lease losses, collectively evaluated for impairment | 1,584 | 1,678 | ||
Loans, individually evaluated for impairment | 120 | 109 | ||
Loans, collectively evaluated for impairment | 328,777 | [1] | 255,625 | [2] |
Total commercial real estate | Multifamily commercial real estate | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Loans, purchase credit-impaired | 131,057 | 96,802 | ||
Total commercial real estate | Multifamily commercial real estate | Purchased Credit- Impaired | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Allowance for loan and lease losses, purchase credit-impaired | 105 | 122 | ||
Loans, purchase credit-impaired | 16,308 | 20,713 | ||
Total commercial real estate | Multifamily commercial real estate | Non-PCI Loans | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Allowance for loan and lease losses, individually evaluated for impairment | 0 | 0 | ||
Allowance for loan and lease losses, collectively evaluated for impairment | 88 | 49 | ||
Loans, individually evaluated for impairment | 0 | 0 | ||
Loans, collectively evaluated for impairment | 131,057 | [1] | 96,802 | [2] |
Total commercial real estate | 1-4 family residential construction and land | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Loans, purchase credit-impaired | 153,331 | 139,647 | ||
Total commercial real estate | 1-4 family residential construction and land | Purchased Credit- Impaired | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Allowance for loan and lease losses, purchase credit-impaired | 0 | 0 | ||
Loans, purchase credit-impaired | 430 | 383 | ||
Total commercial real estate | 1-4 family residential construction and land | Non-PCI Loans | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Allowance for loan and lease losses, individually evaluated for impairment | 0 | 0 | ||
Allowance for loan and lease losses, collectively evaluated for impairment | 591 | 666 | ||
Loans, individually evaluated for impairment | 0 | 0 | ||
Loans, collectively evaluated for impairment | 153,331 | [1] | 139,647 | [2] |
Total consumer | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Loans, purchase credit-impaired | 2,392,666 | 2,359,276 | ||
Total consumer | Purchased Credit- Impaired | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Allowance for loan and lease losses, purchase credit-impaired | 9,610 | 7,589 | ||
Loans, purchase credit-impaired | 275,437 | 312,157 | ||
Total consumer | Non-PCI Loans | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Allowance for loan and lease losses, individually evaluated for impairment | 252 | 247 | ||
Allowance for loan and lease losses, collectively evaluated for impairment | 9,973 | 8,456 | ||
Loans, individually evaluated for impairment | 4,933 | 3,807 | ||
Loans, collectively evaluated for impairment | 2,384,200 | [1] | 2,342,595 | [2] |
Total consumer | 1-4 family residential | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Loans, purchase credit-impaired | 1,592,846 | 1,499,743 | ||
Total consumer | 1-4 family residential | Purchased Credit- Impaired | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Allowance for loan and lease losses, purchase credit-impaired | 7,366 | 6,931 | ||
Loans, purchase credit-impaired | 189,953 | 214,959 | ||
Total consumer | 1-4 family residential | Non-PCI Loans | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Allowance for loan and lease losses, individually evaluated for impairment | 121 | 121 | ||
Allowance for loan and lease losses, collectively evaluated for impairment | 1,929 | 2,136 | ||
Loans, individually evaluated for impairment | 2,626 | 1,963 | ||
Loans, collectively evaluated for impairment | 1,586,687 | [1] | 1,484,906 | [2] |
Total consumer | Home equity loans | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Loans, purchase credit-impaired | 429,169 | 440,976 | ||
Total consumer | Home equity loans | Purchased Credit- Impaired | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Allowance for loan and lease losses, purchase credit-impaired | 573 | 578 | ||
Loans, purchase credit-impaired | 60,328 | 66,783 | ||
Total consumer | Home equity loans | Non-PCI Loans | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Allowance for loan and lease losses, individually evaluated for impairment | 122 | 113 | ||
Allowance for loan and lease losses, collectively evaluated for impairment | 502 | 523 | ||
Loans, individually evaluated for impairment | 1,921 | 1,392 | ||
Loans, collectively evaluated for impairment | 427,248 | [1] | 439,584 | [2] |
Total consumer | Other consumer loans | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Loans, purchase credit-impaired | 370,651 | 418,557 | ||
Total consumer | Other consumer loans | Purchased Credit- Impaired | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Allowance for loan and lease losses, purchase credit-impaired | 1,671 | 80 | ||
Loans, purchase credit-impaired | 25,156 | 30,415 | ||
Total consumer | Other consumer loans | Non-PCI Loans | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Allowance for loan and lease losses, individually evaluated for impairment | 9 | 13 | ||
Allowance for loan and lease losses, collectively evaluated for impairment | 7,542 | 5,797 | ||
Loans, individually evaluated for impairment | 386 | 452 | ||
Loans, collectively evaluated for impairment | 370,265 | [1] | 418,105 | [2] |
Other | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Loans, purchase credit-impaired | 210,562 | 195,615 | ||
Other | Purchased Credit- Impaired | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Allowance for loan and lease losses, purchase credit-impaired | 69 | 46 | ||
Loans, purchase credit-impaired | 27,493 | 32,815 | ||
Other | Non-PCI Loans | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Allowance for loan and lease losses, individually evaluated for impairment | 0 | 0 | ||
Allowance for loan and lease losses, collectively evaluated for impairment | 289 | 303 | ||
Loans, individually evaluated for impairment | 0 | 0 | ||
Loans, collectively evaluated for impairment | $ 210,562 | [1] | $ 195,615 | [2] |
[1] | Loans collectively evaluated for impairment include $1.3 billion of acquired loans which are presented net of unamortized purchase discounts of $17.0 million. | |||
[2] | Loans collectively evaluated for impairment include $1.6 billion of acquired loans which are presented net of unamortized purchase discounts of $20.0 million. |
Allowance for Loan and Lease 58
Allowance for Loan and Lease Losses - Additional Information (Detail) - USD ($) $ in Millions | 6 Months Ended | 12 Months Ended | |
Jun. 30, 2017 | Jun. 30, 2016 | Dec. 31, 2016 | |
Receivables [Abstract] | |||
Loans modified in TDRs with recorded investments | $ 2.5 | $ 1.8 | $ 2.7 |
Other Real Estate Owned - Addit
Other Real Estate Owned - Additional Information (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
Banking and Thrift [Abstract] | ||||
Proceeds from sales of OREO | $ 10,700 | $ 4,700 | $ 15,584 | $ 11,818 |
Net gain on sales of OREO | $ 204 | $ 413 | $ 512 | $ 1,092 |
Other Real Estate Owned (Detail
Other Real Estate Owned (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
Other Real Estate [Roll Forward] | ||||
Balance, beginning of period | $ 51,050 | $ 48,505 | $ 53,482 | $ 52,776 |
Real estate acquired from borrowers and transfers from other assets | 1,036 | 1,184 | 3,463 | 3,772 |
Valuation allowance | (262) | (1,119) | (509) | (1,586) |
Properties sold | (10,460) | (4,334) | (15,072) | (10,726) |
Balance, end of period | $ 41,364 | $ 44,236 | $ 41,364 | $ 44,236 |
Federal Home Loan Bank Advanc61
Federal Home Loan Bank Advances and Short-Term Borrowings - Additional Information (Detail) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Short-term Debt [Line Items] | ||
Securities sold under repurchase agreements | $ 32,400 | $ 18,000 |
Available-for-sale securities pledged as collateral | 37,700 | 27,600 |
Borrowings related to cash received from counterparties as mark-to-market exposure | 300 | 1,200 |
Amounts of eligible collateral provided for incremental borrowing | 482,600 | 415,900 |
Federal Home Loan Bank advances | 470,600 | 545,701 |
Letter of Credit | ||
Short-term Debt [Line Items] | ||
Federal Home Loan Bank advances | 15,300 | 15,400 |
Letter of credit used as collateral in lieu of pledging securities | $ 15,000 | $ 15,200 |
Federal Home Loan Bank Advanc62
Federal Home Loan Bank Advances and Short-Term Borrowings - Federal Home Loan Bank Advance Owed (Detail) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 | |
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items] | |||
Contractual Outstanding Amount | $ 470,600 | $ 545,701 | |
FHLB Maturity Date January 20, 2017 | |||
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items] | |||
Contractual Outstanding Amount | $ 25,000 | ||
Interest rate (as a percent) | 0.63% | ||
FHLB Maturity Date May 19, 2017 | |||
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items] | |||
Contractual Outstanding Amount | $ 155,000 | ||
Interest rate (as a percent) | 0.80% | ||
FHLB Maturity Date November 6, 2017 | |||
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items] | |||
Contractual Outstanding Amount | $ 191 | $ 271 | |
Interest rate (as a percent) | 0.50% | 0.50% | |
FHLB Maturity Date November 20, 2017 | |||
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items] | |||
Contractual Outstanding Amount | [1] | $ 50,000 | $ 50,000 |
Interest rate (as a percent) | [1] | 1.18% | 0.65% |
FHLB Maturity Date November 20, 2017 | 1 Month FRC | |||
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items] | |||
Interest rate, basis points (as a percent) | [1] | 0.02% | |
FHLB Maturity Date May 21, 2018 | |||
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items] | |||
Contractual Outstanding Amount | [1] | $ 30,000 | |
Interest rate (as a percent) | [1] | 1.32% | |
FHLB Maturity Date November 23, 2018 | |||
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items] | |||
Contractual Outstanding Amount | [1] | $ 50,000 | $ 50,000 |
Interest rate (as a percent) | [1] | 1.18% | 0.66% |
FHLB Maturity Date November 23, 2018 | 1 Month FRC | |||
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items] | |||
Interest rate, basis points (as a percent) | [1] | 0.02% | |
FHLB Maturity Date December 31, 2019 | |||
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items] | |||
Contractual Outstanding Amount | [1] | $ 50,000 | $ 50,000 |
Interest rate (as a percent) | [1] | 1.16% | 0.64% |
FHLB Maturity Date December 31, 2019 | 1 Month FRC | |||
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items] | |||
Interest rate, basis points (as a percent) | [1] | 0.02% | |
FHLB Maturity Date May 28, 2020 | |||
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items] | |||
Contractual Outstanding Amount | [1] | $ 60,000 | $ 60,000 |
Interest rate (as a percent) | [1] | 1.19% | 0.63% |
FHLB Maturity Date May 28, 2020 | 1 Month FRC | |||
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items] | |||
Interest rate, basis points (as a percent) | [1] | 0.02% | |
FHLB Maturity Date September, 20, 2021 | |||
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items] | |||
Contractual Outstanding Amount | [1] | $ 80,000 | $ 80,000 |
Interest rate (as a percent) | [1] | 1.24% | 0.71% |
FHLB Maturity Date September, 20, 2021 | 1 Month FRC | |||
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items] | |||
Interest rate, basis points (as a percent) | [1] | 0.08% | |
FHLB Maturity Date September, 29, 2021 | |||
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items] | |||
Contractual Outstanding Amount | [1] | $ 75,000 | $ 75,000 |
Interest rate (as a percent) | [1] | 1.23% | 0.71% |
FHLB Maturity Date September, 29, 2021 | 1 Month FRC | |||
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items] | |||
Interest rate, basis points (as a percent) | [1] | 0.08% | |
FHLB Maturity Date January 20, 2022 | |||
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items] | |||
Contractual Outstanding Amount | [1] | $ 75,000 | |
Interest rate (as a percent) | [1] | 1.24% | |
FHLB Maturity Date January 20, 2022 | 1 Month FRC | |||
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items] | |||
Interest rate, basis points (as a percent) | [1] | 0.08% | |
FHLB Maturity Date February 10, 2026 | |||
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items] | |||
Contractual Outstanding Amount | $ 409 | $ 430 | |
Interest rate (as a percent) | 0.00% | 0.00% | |
[1] | FRC = FHLB Fixed Rate Credit interest rate. |
Long-Term Borrowings - Addition
Long-Term Borrowings - Additional Information (Detail) | 6 Months Ended |
Jun. 30, 2017trust_preferred_security | |
Debt Instrument [Line Items] | |
Period allowed for deferral of interest payment on the trust preferred securities (up to) | 60 months |
Trust Preferred Securities | |
Debt Instrument [Line Items] | |
Number of trust preferred securities acquired | 14 |
Life of debt securities and trust preferred securities | 30 years |
Debt Securities | |
Debt Instrument [Line Items] | |
Life of debt securities and trust preferred securities | 30 years |
Long-Term Borrowings - Summary
Long-Term Borrowings - Summary of Subordinated Debentures (Detail) - USD ($) | 6 Months Ended | |
Jun. 30, 2017 | Dec. 31, 2016 | |
Debt Instrument [Line Items] | ||
Carrying Amount | $ 118,096,000 | $ 116,456,000 |
3 Month LIBOR | Subordinated debt due July 31, 2031 | ||
Debt Instrument [Line Items] | ||
Interest Rate, Basis Points (as a percent) | 3.58% | |
3 Month LIBOR | Subordinated debt due July 31, 2031 | ||
Debt Instrument [Line Items] | ||
Interest Rate, Basis Points (as a percent) | 3.58% | |
3 Month LIBOR | Subordinated debt due December 30, 2032 | ||
Debt Instrument [Line Items] | ||
Interest Rate, Basis Points (as a percent) | 3.35% | |
3 Month LIBOR | Subordinated debt due June 26, 2033 | ||
Debt Instrument [Line Items] | ||
Interest Rate, Basis Points (as a percent) | 3.10% | |
3 Month LIBOR | Subordinated debt due October 8, 2033 | ||
Debt Instrument [Line Items] | ||
Interest Rate, Basis Points (as a percent) | 2.85% | |
3 Month LIBOR | Subordinated debt due December 30, 2033 | ||
Debt Instrument [Line Items] | ||
Interest Rate, Basis Points (as a percent) | 2.85% | |
3 Month LIBOR | Subordinated debt due June 28, 2035 | ||
Debt Instrument [Line Items] | ||
Interest Rate, Basis Points (as a percent) | 1.68% | |
3 Month LIBOR | Subordinated debt due December 15, 2035 | ||
Debt Instrument [Line Items] | ||
Interest Rate, Basis Points (as a percent) | 1.37% | |
3 Month LIBOR | Subordinated debt due March 15, 2036 | ||
Debt Instrument [Line Items] | ||
Interest Rate, Basis Points (as a percent) | 1.40% | |
3 Month LIBOR | Subordinated debt due March 15, 2036 | ||
Debt Instrument [Line Items] | ||
Interest Rate, Basis Points (as a percent) | 1.54% | |
3 Month LIBOR | Subordinated debt due June 30, 2036 | ||
Debt Instrument [Line Items] | ||
Interest Rate, Basis Points (as a percent) | 1.32% | |
3 Month LIBOR | Subordinated debt due July 7, 2036 | ||
Debt Instrument [Line Items] | ||
Interest Rate, Basis Points (as a percent) | 1.55% | |
3 Month LIBOR | Subordinated debt due June 15, 2037 | ||
Debt Instrument [Line Items] | ||
Interest Rate, Basis Points (as a percent) | 1.65% | |
3 Month LIBOR | Subordinated debt due September 6, 2037 | ||
Debt Instrument [Line Items] | ||
Interest Rate, Basis Points (as a percent) | 1.43% | |
Subordinated Debt | ||
Debt Instrument [Line Items] | ||
Face Amount | $ 206,000,000 | |
Carrying Amount | $ 118,096,000 | 116,456,000 |
Subordinated Debt | Subordinated debt due July 31, 2031 | ||
Debt Instrument [Line Items] | ||
Date of Offering | Jul. 31, 2001 | |
Face Amount | $ 5,000,000 | |
Carrying Amount | $ 4,049,000 | 4,018,000 |
Interest Rate (as a percent) | 4.75% | |
Maturity Date | Jul. 31, 2031 | |
Subordinated Debt | Subordinated debt due July 31, 2031 | ||
Debt Instrument [Line Items] | ||
Date of Offering | Jul. 31, 2001 | |
Face Amount | $ 4,000,000 | |
Carrying Amount | $ 2,865,000 | 2,831,000 |
Interest Rate (as a percent) | 4.75% | |
Maturity Date | Jul. 31, 2031 | |
Subordinated Debt | Subordinated debt due December 30, 2032 | ||
Debt Instrument [Line Items] | ||
Date of Offering | Dec. 20, 2002 | |
Face Amount | $ 5,000,000 | |
Carrying Amount | $ 3,579,000 | 3,544,000 |
Interest Rate (as a percent) | 4.50% | |
Maturity Date | Dec. 30, 2032 | |
Subordinated Debt | Subordinated debt due June 26, 2033 | ||
Debt Instrument [Line Items] | ||
Date of Offering | Jun. 26, 2003 | |
Face Amount | $ 10,000,000 | |
Carrying Amount | $ 6,289,000 | 6,231,000 |
Interest Rate (as a percent) | 4.40% | |
Maturity Date | Jun. 26, 2033 | |
Subordinated Debt | Subordinated debt due October 8, 2033 | ||
Debt Instrument [Line Items] | ||
Date of Offering | Sep. 25, 2003 | |
Face Amount | $ 10,000,000 | |
Carrying Amount | $ 6,902,000 | 6,823,000 |
Interest Rate (as a percent) | 4.01% | |
Maturity Date | Oct. 8, 2033 | |
Subordinated Debt | Subordinated debt due December 30, 2033 | ||
Debt Instrument [Line Items] | ||
Date of Offering | Dec. 30, 2003 | |
Face Amount | $ 10,000,000 | |
Carrying Amount | $ 6,079,000 | 6,020,000 |
Interest Rate (as a percent) | 4.02% | |
Maturity Date | Dec. 30, 2033 | |
Subordinated Debt | Subordinated debt due June 28, 2035 | ||
Debt Instrument [Line Items] | ||
Date of Offering | Jun. 28, 2005 | |
Face Amount | $ 3,000,000 | |
Carrying Amount | $ 1,724,000 | 1,697,000 |
Interest Rate (as a percent) | 2.93% | |
Maturity Date | Jun. 28, 2035 | |
Subordinated Debt | Subordinated debt due December 15, 2035 | ||
Debt Instrument [Line Items] | ||
Date of Offering | Nov. 4, 2005 | |
Face Amount | $ 20,000,000 | |
Carrying Amount | $ 10,271,000 | 10,085,000 |
Interest Rate (as a percent) | 2.62% | |
Maturity Date | Dec. 15, 2035 | |
Subordinated Debt | Subordinated debt due March 15, 2036 | ||
Debt Instrument [Line Items] | ||
Date of Offering | Dec. 22, 2005 | |
Face Amount | $ 10,000,000 | |
Carrying Amount | $ 4,932,000 | 4,863,000 |
Interest Rate (as a percent) | 2.65% | |
Maturity Date | Mar. 15, 2036 | |
Subordinated Debt | Subordinated debt due March 15, 2036 | ||
Debt Instrument [Line Items] | ||
Date of Offering | Dec. 28, 2005 | |
Face Amount | $ 13,000,000 | |
Carrying Amount | $ 7,220,000 | 7,107,000 |
Interest Rate (as a percent) | 2.79% | |
Maturity Date | Mar. 15, 2036 | |
Subordinated Debt | Subordinated debt due June 30, 2036 | ||
Debt Instrument [Line Items] | ||
Date of Offering | Apr. 27, 2006 | |
Face Amount | $ 30,000,000 | |
Carrying Amount | $ 15,090,000 | 14,816,000 |
Interest Rate (as a percent) | 2.62% | |
Maturity Date | Jun. 30, 2036 | |
Subordinated Debt | Subordinated debt due July 7, 2036 | ||
Debt Instrument [Line Items] | ||
Date of Offering | Jun. 23, 2006 | |
Face Amount | $ 20,000,000 | |
Carrying Amount | $ 12,247,000 | 12,092,000 |
Interest Rate (as a percent) | 2.71% | |
Maturity Date | Jul. 7, 2036 | |
Subordinated Debt | Subordinated debt due June 15, 2037 | ||
Debt Instrument [Line Items] | ||
Date of Offering | May 16, 2007 | |
Face Amount | $ 56,000,000 | |
Carrying Amount | $ 31,147,000 | 30,685,000 |
Interest Rate (as a percent) | 2.90% | |
Maturity Date | Jun. 15, 2037 | |
Subordinated Debt | Subordinated debt due September 6, 2037 | ||
Debt Instrument [Line Items] | ||
Date of Offering | Jun. 15, 2007 | |
Face Amount | $ 10,000,000 | |
Carrying Amount | $ 5,702,000 | $ 5,644,000 |
Interest Rate (as a percent) | 2.65% | |
Maturity Date | Sep. 6, 2037 |
Shareholders' Equity and Mini65
Shareholders' Equity and Minimum Regulatory Capital Requirements - Schedule of Minimum and Actual Ratios (Detail) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 | Dec. 31, 2015 |
Tier 1 Leverage Capital | |||
Adequately capitalized requirement tier 1 capital to average assets | $ 391,011 | $ 360,513 | |
Actual tier 1 capital to average assets | 1,150,427 | 1,101,743 | |
Tier 1 Common Equity Capital | |||
Adequately capitalized requirement tier 1 common equity capital to risk-weighted assets | 377,096 | 367,521 | |
Actual tier 1 common equity capital to risk-weighted average assets | 1,043,384 | 1,012,831 | |
Tier 1 Risk-based Capital | |||
Adequately capitalized requirement tier 1 capital to risk-weighted assets | 502,795 | 490,028 | |
Actual tier 1 capital to risk-weighted assets | 1,150,427 | 1,101,743 | |
Total Risk-based Capital | |||
Adequately capitalized requirement total capital to risk-weighted assets | 670,393 | 653,371 | |
Actual total capital to risk-weighted assets | $ 1,195,497 | $ 1,145,351 | |
Risk Based Ratios | |||
Well capitalized requirement, tier 1 capital to average assets (greater than or equal to) (as a percent) | 5.00% | ||
Adequately capitalized requirement, tier 1 capital to average assets (greater than or equal to) (as a percent) | 4.00% | 4.00% | |
Well capitalized requirement, tier 1 common equity capital to risk-weighted assets (greater than or equal to) (as a percent) | 6.50% | ||
Adequately capitalized requirement, tier 1 common equity capital to risk-weighted assets (greater than or equal to) (as a percent) | 4.50% | 4.50% | |
Well capitalized requirement, tier 1 capital to risk-weighted assets (greater than or equal to) (as a percent) | 8.00% | 6.00% | |
Adequately capitalized requirement, tier 1 capital to risk-weighted assets (greater than or equal to) (as a percent) | 6.00% | 6.00% | 4.00% |
Well capitalized requirement, total capital to risk-weighted assets (greater than or equal to) (as a percent) | 10.00% | ||
Adequately capitalized requirement, total capital to risk-weighted assets (greater than or equal to) (as a percent) | 8.00% | 8.00% | |
Leverage Ratios | |||
Actual tier 1 capital to average assets (as a percent) | 11.80% | 12.20% | |
Actual tier 1 common equity capital to risk-weighted assets (as a percent) | 12.50% | 12.40% | |
Actual tier 1 capital to risk-weighted assets (as a percent) | 13.70% | 13.50% | |
Actual tier 1 capital to total capital to risk-weighted assets (as a percent) | 14.30% | 14.00% | |
Bank | |||
Tier 1 Leverage Capital | |||
Well capitalized requirement tier 1 capital to average assets | $ 487,466 | $ 450,006 | |
Adequately capitalized requirement tier 1 capital to average assets | 389,973 | 360,005 | |
Actual tier 1 capital to average assets | 1,046,843 | 1,010,409 | |
Tier 1 Common Equity Capital | |||
Well capitalized requirement tier 1 common equity capital to risk-weighted assets | 543,319 | 529,887 | |
Adequately capitalized requirement tier 1 common equity capital to risk-weighted assets | 376,144 | 366,845 | |
Actual tier 1 common equity capital to risk-weighted average assets | 1,046,843 | 1,010,409 | |
Tier 1 Risk-based Capital | |||
Well capitalized requirement tier 1 capital to risk-weighted assets | 668,700 | 652,169 | |
Adequately capitalized requirement tier 1 capital to risk-weighted assets | 501,525 | 489,127 | |
Actual tier 1 capital to risk-weighted assets | 1,046,843 | 1,010,409 | |
Total Risk-based Capital | |||
Well capitalized requirement total capital to risk-weighted assets | 835,875 | 815,211 | |
Adequately capitalized requirement total capital to risk-weighted assets | 668,700 | 652,169 | |
Actual total capital to risk-weighted assets | $ 1,091,913 | $ 1,054,016 | |
Risk Based Ratios | |||
Well capitalized requirement, tier 1 capital to average assets (greater than or equal to) (as a percent) | 5.00% | 5.00% | |
Adequately capitalized requirement, tier 1 capital to average assets (greater than or equal to) (as a percent) | 4.00% | 4.00% | |
Well capitalized requirement, tier 1 common equity capital to risk-weighted assets (greater than or equal to) (as a percent) | 6.50% | 6.50% | |
Adequately capitalized requirement, tier 1 common equity capital to risk-weighted assets (greater than or equal to) (as a percent) | 4.50% | 4.50% | |
Well capitalized requirement, tier 1 capital to risk-weighted assets (greater than or equal to) (as a percent) | 8.00% | 8.00% | |
Adequately capitalized requirement, tier 1 capital to risk-weighted assets (greater than or equal to) (as a percent) | 6.00% | 6.00% | |
Well capitalized requirement, total capital to risk-weighted assets (greater than or equal to) (as a percent) | 10.00% | 10.00% | |
Adequately capitalized requirement, total capital to risk-weighted assets (greater than or equal to) (as a percent) | 8.00% | 8.00% | |
Leverage Ratios | |||
Actual tier 1 capital to average assets (as a percent) | 10.70% | 11.20% | |
Actual tier 1 common equity capital to risk-weighted assets (as a percent) | 12.50% | 12.40% | |
Actual tier 1 capital to risk-weighted assets (as a percent) | 12.50% | 12.40% | |
Actual tier 1 capital to total capital to risk-weighted assets (as a percent) | 13.10% | 12.90% |
Shareholders' Equity and Mini66
Shareholders' Equity and Minimum Regulatory Capital Requirements - Additional Information (Detail) - USD ($) | Jul. 20, 2017 | May 02, 2017 | Jan. 31, 2017 | Jan. 24, 2017 | Oct. 19, 2016 | Jun. 01, 2016 | Jun. 30, 2017 | Dec. 31, 2018 | Dec. 31, 2016 | Dec. 31, 2015 |
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ||||||||||
Period of retained net profits | 2 years | |||||||||
Approved dividend to Company by subsidiary | $ 6,800,000 | $ 4,200,000 | $ 6,100,000 | $ 5,700,000 | $ 64,200,000 | |||||
Adequately capitalized requirement, tier 1 common equity capital to risk-weighted assets (greater than or equal to) (as a percent) | 4.50% | 4.50% | ||||||||
Adequately capitalized requirement, tier 1 capital to risk-weighted assets (greater than or equal to) (as a percent) | 6.00% | 6.00% | 4.00% | |||||||
Adequately capitalized requirement, total capital to risk-weighted assets (greater than or equal to) (as a percent) | 8.00% | 8.00% | ||||||||
Adequately capitalized requirement, tier 1 capital to average assets (greater than or equal to) (as a percent) | 4.00% | 4.00% | ||||||||
Conservation buffer, required amount, 2016 (as a percent) | 0.625% | |||||||||
Conservation buffer, required amount, 2017 (as a percent) | 1.25% | |||||||||
Conservation buffer, required amount, 2018 (as a percent) | 1.875% | |||||||||
Conservation buffer, required amount, 2019 and thereafter (as a percent) | 2.50% | |||||||||
Conservation buffer, actual (as a percent) | 6.30% | |||||||||
Conservation buffer, required amount (as a percent) | 2.50% | |||||||||
Well capitalized requirement, tier 1 common equity capital to risk-weighted assets (greater than or equal to) (as a percent) | 6.50% | |||||||||
Well capitalized requirement, tier 1 capital to risk-weighted assets (greater than or equal to) (as a percent) | 8.00% | 6.00% | ||||||||
Well capitalized requirement, total capital to risk-weighted assets (greater than or equal to) (as a percent) | 10.00% | |||||||||
Well capitalized requirement, tier 1 capital to average assets (greater than or equal to) (as a percent) | 5.00% | |||||||||
Stock repurchase, authorized amount | $ 400,000,000 | |||||||||
Stock repurchased | $ 312,384,000 | $ 312,384,000 | ||||||||
Stock repurchased (in shares) | 13,040,000 | 13,040,000 | ||||||||
Share Repurchase Plan | ||||||||||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ||||||||||
Stock repurchased | $ 312,400,000 | |||||||||
Stock repurchased (in shares) | 12,739,763 | |||||||||
Stock repurchased, average price per share (in dollars per share) | $ 24.52 | |||||||||
Remaining availability for future share repurchases | $ 87,600,000 | |||||||||
Subsequent event | ||||||||||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ||||||||||
Dividend declared per share (in dollars per share) | $ 0.12 | |||||||||
Forecast | ||||||||||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ||||||||||
Adequately capitalized requirement, tier 1 common equity capital to risk-weighted assets (greater than or equal to) (as a percent) | 7.00% | |||||||||
Adequately capitalized requirement, tier 1 capital to risk-weighted assets (greater than or equal to) (as a percent) | 8.50% | |||||||||
Adequately capitalized requirement, total capital to risk-weighted assets (greater than or equal to) (as a percent) | 10.50% |
Stock-Based Compensation - Addi
Stock-Based Compensation - Additional Information (Detail) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017USD ($)planshares | Jun. 30, 2016USD ($) | Jun. 30, 2017USD ($)planshares | Jun. 30, 2016USD ($)shares | |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ||||
Number of compensation plans | plan | 2 | 2 | ||
Tax benefit related to stock-based compensation expense | $ | $ 362 | $ 177 | $ 699 | $ 298 |
Stock options | ||||
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ||||
Weighted average remaining contractual life | 3 years 4 months 4 days | |||
Aggregate intrinsic value, outstanding | $ | $ 51,500 | $ 51,500 | ||
Restricted stock | ||||
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ||||
Vesting period | 3 years | |||
Restricted stock granted (in shares) | 165,000 | 198,000 | ||
2010 And 2013 Plan | Stock options | ||||
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ||||
Minimum exercise price for common stock (as percent) | 100.00% | |||
Stock award exercise expiration period from grant date | 10 years | |||
Options exercised after ten years (in shares) | 83,729 | 83,729 | ||
Stock options granted (in shares) | 15,623 | |||
2010 And 2013 Plan | Stock options | 10% Percent Owners | ||||
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ||||
Minimum exercise price for common stock (as percent) | 110.00% | |||
Stock ownership percentage for 110% exercise price (more than) (as percent) | 10.00% | |||
Stock award exercise expiration period from grant date | 5 years | |||
2013 Plan | ||||
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ||||
Plan effective date | May 22, 2013 | |||
Plan expiration date | May 22, 2023 | |||
Number of shares authorized under plan (in shares) | 2,639,000 | 2,639,000 | ||
2013 Plan | Restricted stock | ||||
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ||||
Restricted stock granted (in shares) | 165,063 |
Stock-Based Compensation - Comp
Stock-Based Compensation - Components and Classification of Stock-Based Compensation Expense (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ||||
Stock-based compensation expense | $ 964 | $ 467 | $ 1,864 | $ 784 |
Stock options | ||||
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ||||
Stock-based compensation expense | 28 | 12 | 52 | 21 |
Restricted stock | ||||
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ||||
Stock-based compensation expense | $ 936 | $ 455 | $ 1,812 | $ 763 |
Stock-Based Compensation - Stoc
Stock-Based Compensation - Stock Option Activity (Detail) - Stock options - $ / shares shares in Thousands | 6 Months Ended | |
Jun. 30, 2017 | Jun. 30, 2016 | |
Shares | ||
Beginning balance (in shares) | 3,180 | 3,075 |
Granted (in shares) | 15 | 30 |
Exercised (in shares) | (84) | (27) |
Canceled, expired or forfeited (in shares) | (3) | (2) |
Ending balance (in shares) | 3,108 | 3,076 |
Weighted Average Exercise Price Per Share | ||
Beginning balance (in dollars per share) | $ 20.86 | $ 20.12 |
Granted (in dollars per share) | 39.55 | 30.54 |
Exercised (in dollars per share) | 20.55 | 18 |
Canceled, expired or forfeited (in dollars per share) | 70.98 | 30.54 |
Ending balance (in dollars per share) | $ 20.92 | $ 20.23 |
Stock-Based Compensation - Opti
Stock-Based Compensation - Options Outstanding (Detail) - Stock options shares in Thousands | 6 Months Ended |
Jun. 30, 2017$ / sharesshares | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |
Exercise prices, lower range limit (in dollars per share) | $ 18 |
Exercise prices, upper range limit (in dollars per share) | $ 2,026 |
Outstanding options (in shares) | shares | 3,108 |
Weighted average remaining contractual life, outstanding options | 3 years 4 months 4 days |
Weighted average exercise price per share, outstanding options (in dollars per share) | $ 20.85 |
Exercisable options (in shares) | shares | 3,053 |
Weighted average exercise price per share, exercisable options (in dollars per share) | $ 20.59 |
$ 18 | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |
Exercise prices, lower range limit (in dollars per share) | 18 |
Exercise prices, upper range limit (in dollars per share) | $ 18 |
Outstanding options (in shares) | shares | 121 |
Weighted average remaining contractual life, outstanding options | 5 years 10 months 20 days |
Weighted average exercise price per share, outstanding options (in dollars per share) | $ 18 |
Exercisable options (in shares) | shares | 121 |
Weighted average exercise price per share, exercisable options (in dollars per share) | $ 18 |
$18.01- $20.00 | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |
Exercise prices, lower range limit (in dollars per share) | 18.01 |
Exercise prices, upper range limit (in dollars per share) | $ 20 |
Outstanding options (in shares) | shares | 2,819 |
Weighted average remaining contractual life, outstanding options | 2 years 11 months 24 days |
Weighted average exercise price per share, outstanding options (in dollars per share) | $ 20 |
Exercisable options (in shares) | shares | 2,819 |
Weighted average exercise price per share, exercisable options (in dollars per share) | $ 20 |
$20.01 - $2,026.00 | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |
Exercise prices, lower range limit (in dollars per share) | 20.01 |
Exercise prices, upper range limit (in dollars per share) | $ 2,026 |
Outstanding options (in shares) | shares | 168 |
Weighted average remaining contractual life, outstanding options | 7 years 8 months |
Weighted average exercise price per share, outstanding options (in dollars per share) | $ 37.31 |
Exercisable options (in shares) | shares | 113 |
Weighted average exercise price per share, exercisable options (in dollars per share) | $ 38.11 |
Stock-Based Compensation - Unve
Stock-Based Compensation - Unvested Restricted Stock Activity (Detail) - Restricted stock - $ / shares shares in Thousands | 6 Months Ended | |
Jun. 30, 2017 | Jun. 30, 2016 | |
Shares | ||
Beginning balance (in shares) | 197 | 0 |
Granted (in shares) | 165 | 198 |
Vested or released (in shares) | (64) | 0 |
Canceled, expired or forfeited (in shares) | (3) | (1) |
Ending balance (in shares) | 295 | 197 |
Weighted Average Grant-Date Fair Value Per Share | ||
Beginning balance (in dollars per share) | $ 30.10 | $ 0 |
Granted (in dollars per share) | 39.56 | 30.30 |
Vested or released (in dollars per share) | 30.56 | 0 |
Canceled, expired or forfeited (in dollars per share) | 34.07 | 30.54 |
Ending balance (in dollars per share) | $ 35.25 | $ 30.30 |
Income Taxes - Reconciliation o
Income Taxes - Reconciliation of Income Tax Computed at Applicable Federal Statutory Income Tax Rates to Total Income Taxes (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
Income Tax Disclosure [Abstract] | ||||
Income before income taxes | $ 37,954 | $ 27,729 | $ 69,827 | $ 43,349 |
Income taxes computed at Federal statutory tax rate | 13,283 | 9,705 | 24,439 | 15,172 |
Effect of: | ||||
State taxes (net of federal benefit) | 976 | 851 | 1,773 | 1,321 |
State statutory rate change | 461 | 0 | 461 | 0 |
Tax-exempt interest income, net | (382) | (311) | (716) | (481) |
Other, net | (190) | 43 | (819) | 36 |
Total income tax expense | $ 14,148 | $ 10,288 | $ 25,138 | $ 16,048 |
Income Taxes - Additional Infor
Income Taxes - Additional Information (Detail) - USD ($) | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | Dec. 31, 2016 | |
Operating Loss Carryforwards [Line Items] | |||||
Effective income tax rate (as a percent) | 37.00% | 37.00% | 36.00% | 37.00% | |
Deferred income tax asset, net | $ 134,452,000 | $ 134,452,000 | $ 150,272,000 | ||
Valuation allowance | 0 | 0 | 0 | ||
Amount of annual commutative limitation | 27,800,000 | ||||
Unrecognized tax benefits | 0 | 0 | 0 | ||
Uncertain tax positions | 0 | 0 | 0 | ||
Federal | |||||
Operating Loss Carryforwards [Line Items] | |||||
Operating loss carryforwards | 464,600,000 | 464,600,000 | 478,600,000 | ||
State | |||||
Operating Loss Carryforwards [Line Items] | |||||
Operating loss carryforwards | $ 506,500,000 | $ 506,500,000 | $ 507,000,000 |
Fair Value - Additional Informa
Fair Value - Additional Information (Detail) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | 12 Months Ended |
Jun. 30, 2017 | Jun. 30, 2017 | Dec. 31, 2016 | |
Fair Value on Nonrecurring Basis | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||
Impairment charges from changes in fair value of OREO | $ 0.3 | $ 0.5 | $ 0.7 |
Carrying Value | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||
Other real estate owned, gross | 41 | 41 | 50 |
Other real estate owned, valuation allowance | 8.5 | 8.9 | |
Carrying Value | Commercial properties | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||
Other real estate | 28 | 28 | 35.5 |
Carrying Value | Residential properties | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||
Other real estate | 4.6 | 4.6 | $ 5.7 |
Level 3 | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||
Fair value of mortgage servicing rights (MSR) | $ 2.5 | $ 2.5 |
Fair Value - Assets and Liabili
Fair Value - Assets and Liabilities Measured at Fair Value on a Recurring Basis (Detail) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Assets | ||
Trading securities | $ 4,290 | $ 3,791 |
Available-for-sale securities: | ||
Available-for-sale securities | 1,145,712 | 912,250 |
Gross asset value of derivatives | 1,230 | 1,078 |
Liabilities | ||
Gross liability value of derivatives | 1,953 | 1,354 |
Industrial revenue bonds | ||
Available-for-sale securities: | ||
Available-for-sale securities | 3,137 | 3,298 |
Corporate bonds | ||
Available-for-sale securities: | ||
Available-for-sale securities | 63,621 | 28,953 |
State and political subdivisions—tax exempt | ||
Available-for-sale securities: | ||
Available-for-sale securities | 11,377 | 11,077 |
Quoted Prices in Active Markets for Identical Assets (Level 1) | ||
Assets | ||
Trading securities | 0 | 0 |
Available-for-sale securities: | ||
Available-for-sale securities | 0 | 0 |
Gross asset value of derivatives | 0 | 0 |
Liabilities | ||
Gross liability value of derivatives | 0 | 0 |
Significant Other Observable Inputs (Level 2) | ||
Assets | ||
Trading securities | 4,290 | 3,791 |
Available-for-sale securities: | ||
Available-for-sale securities | 1,142,575 | 908,952 |
Gross asset value of derivatives | 1,230 | 1,078 |
Liabilities | ||
Gross liability value of derivatives | 1,953 | 1,354 |
Significant Unobservable Inputs (Level 3) | ||
Assets | ||
Trading securities | 0 | 0 |
Available-for-sale securities: | ||
Available-for-sale securities | 3,137 | 3,298 |
Gross asset value of derivatives | 0 | 0 |
Liabilities | ||
Gross liability value of derivatives | 0 | 0 |
Fair Value on Recurring Basis | ||
Assets | ||
Trading securities | 4,290 | 3,791 |
Available-for-sale securities: | ||
Available-for-sale securities | 1,145,712 | 912,250 |
Gross asset value of derivatives | 1,230 | 1,078 |
Liabilities | ||
Gross liability value of derivatives | 1,953 | 1,354 |
Fair Value on Recurring Basis | Mortgage-backed securities—residential | ||
Available-for-sale securities: | ||
Available-for-sale securities | 1,067,577 | 868,922 |
Fair Value on Recurring Basis | Industrial revenue bonds | ||
Available-for-sale securities: | ||
Available-for-sale securities | 3,137 | 3,298 |
Fair Value on Recurring Basis | Corporate bonds | ||
Available-for-sale securities: | ||
Available-for-sale securities | 63,621 | 28,953 |
Fair Value on Recurring Basis | State and political subdivisions—tax exempt | ||
Available-for-sale securities: | ||
Available-for-sale securities | 11,377 | 11,077 |
Fair Value on Recurring Basis | Quoted Prices in Active Markets for Identical Assets (Level 1) | ||
Assets | ||
Trading securities | 0 | 0 |
Available-for-sale securities: | ||
Available-for-sale securities | 0 | 0 |
Gross asset value of derivatives | 0 | 0 |
Liabilities | ||
Gross liability value of derivatives | 0 | 0 |
Fair Value on Recurring Basis | Quoted Prices in Active Markets for Identical Assets (Level 1) | Mortgage-backed securities—residential | ||
Available-for-sale securities: | ||
Available-for-sale securities | 0 | 0 |
Fair Value on Recurring Basis | Quoted Prices in Active Markets for Identical Assets (Level 1) | Industrial revenue bonds | ||
Available-for-sale securities: | ||
Available-for-sale securities | 0 | 0 |
Fair Value on Recurring Basis | Quoted Prices in Active Markets for Identical Assets (Level 1) | Corporate bonds | ||
Available-for-sale securities: | ||
Available-for-sale securities | 0 | 0 |
Fair Value on Recurring Basis | Quoted Prices in Active Markets for Identical Assets (Level 1) | State and political subdivisions—tax exempt | ||
Available-for-sale securities: | ||
Available-for-sale securities | 0 | 0 |
Fair Value on Recurring Basis | Significant Other Observable Inputs (Level 2) | ||
Assets | ||
Trading securities | 4,290 | 3,791 |
Available-for-sale securities: | ||
Available-for-sale securities | 1,142,575 | 908,952 |
Gross asset value of derivatives | 1,230 | 1,078 |
Liabilities | ||
Gross liability value of derivatives | 1,953 | 1,354 |
Fair Value on Recurring Basis | Significant Other Observable Inputs (Level 2) | Mortgage-backed securities—residential | ||
Available-for-sale securities: | ||
Available-for-sale securities | 1,067,577 | 868,922 |
Fair Value on Recurring Basis | Significant Other Observable Inputs (Level 2) | Industrial revenue bonds | ||
Available-for-sale securities: | ||
Available-for-sale securities | 0 | 0 |
Fair Value on Recurring Basis | Significant Other Observable Inputs (Level 2) | Corporate bonds | ||
Available-for-sale securities: | ||
Available-for-sale securities | 63,621 | 28,953 |
Fair Value on Recurring Basis | Significant Other Observable Inputs (Level 2) | State and political subdivisions—tax exempt | ||
Available-for-sale securities: | ||
Available-for-sale securities | 11,377 | 11,077 |
Fair Value on Recurring Basis | Significant Unobservable Inputs (Level 3) | ||
Assets | ||
Trading securities | 0 | 0 |
Available-for-sale securities: | ||
Available-for-sale securities | 3,137 | 3,298 |
Gross asset value of derivatives | 0 | 0 |
Liabilities | ||
Gross liability value of derivatives | 0 | 0 |
Fair Value on Recurring Basis | Significant Unobservable Inputs (Level 3) | Mortgage-backed securities—residential | ||
Available-for-sale securities: | ||
Available-for-sale securities | 0 | 0 |
Fair Value on Recurring Basis | Significant Unobservable Inputs (Level 3) | Industrial revenue bonds | ||
Available-for-sale securities: | ||
Available-for-sale securities | 3,137 | 3,298 |
Fair Value on Recurring Basis | Significant Unobservable Inputs (Level 3) | Corporate bonds | ||
Available-for-sale securities: | ||
Available-for-sale securities | 0 | 0 |
Fair Value on Recurring Basis | Significant Unobservable Inputs (Level 3) | State and political subdivisions—tax exempt | ||
Available-for-sale securities: | ||
Available-for-sale securities | $ 0 | $ 0 |
Fair Value - Fair Value Measure
Fair Value - Fair Value Measurements on Recurring Basis Using Significant Unobservable Inputs (Level 3) (Detail) - Fair Value on Recurring Basis - Significant Unobservable Inputs (Level 3) - Industrial revenue bonds - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||||
Beginning balance | $ 3,136 | $ 3,249 | $ 3,298 | $ 3,437 |
Principal reduction | 0 | 0 | (170) | (170) |
Included in other comprehensive income | 1 | 14 | 9 | (4) |
Ending balance | $ 3,137 | $ 3,263 | $ 3,137 | $ 3,263 |
Fair Value - Quantitative Infor
Fair Value - Quantitative Information About Recurring Level 3 Fair Value Measurements (Detail) - Significant Unobservable Inputs (Level 3) - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended |
Jun. 30, 2017 | Dec. 31, 2016 | |
Fair Value Inputs, Liabilities, Quantitative Information [Line Items] | ||
Fair Value | $ 116,007 | $ 114,593 |
Fair Value on Recurring Basis | Discounted Cash Flow | ||
Fair Value Inputs, Liabilities, Quantitative Information [Line Items] | ||
Illiquidity factor (as a percent) | 0.50% | 0.50% |
Fair Value on Recurring Basis | Industrial revenue bonds | Discounted Cash Flow | ||
Fair Value Inputs, Liabilities, Quantitative Information [Line Items] | ||
Fair Value | $ 3,137 | $ 3,298 |
Fair Value on Recurring Basis | Industrial revenue bonds | Discounted Cash Flow | Minimum | ||
Fair Value Inputs, Liabilities, Quantitative Information [Line Items] | ||
Discount rate (as a percent) | 3.041% | 3.31% |
Fair Value on Recurring Basis | Industrial revenue bonds | Discounted Cash Flow | Maximum | ||
Fair Value Inputs, Liabilities, Quantitative Information [Line Items] | ||
Discount rate (as a percent) | 3.044% | 3.35% |
Fair Value - Assets and Liabi78
Fair Value - Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis (Details) - Fair Value on Nonrecurring Basis - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Quoted Prices in Active Markets for Identical Assets (Level 1) | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Other real estate owned | $ 0 | $ 0 |
Premises and equipment held for sale | 0 | 0 |
Other repossessed assets | 254 | 163 |
Impaired loans | 0 | 0 |
Significant Other Observable Inputs (Level 2) | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Other real estate owned | 0 | 0 |
Premises and equipment held for sale | 0 | 0 |
Other repossessed assets | 0 | 0 |
Impaired loans | 0 | 0 |
Significant Unobservable Inputs (Level 3) | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Other real estate owned | 32,583 | 41,168 |
Premises and equipment held for sale | 15,744 | 2,599 |
Other repossessed assets | 0 | 0 |
Impaired loans | $ 1,123 | $ 1,420 |
Fair Value - Quantitative Inf79
Fair Value - Quantitative Information About Nonrecurring Level 3 Fair Value Measurements (Detail) - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended |
Jun. 30, 2017 | Dec. 31, 2016 | |
Significant Unobservable Inputs (Level 3) | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair value | $ 7,561,204 | $ 7,417,602 |
Estimated Fair Value | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair value | 9,299,512 | 9,114,263 |
Other real estate owned | Fair Value of Property | Fair Value on Nonrecurring Basis | Estimated Fair Value | Significant Unobservable Inputs (Level 3) | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair value | $ 32,583 | $ 41,168 |
Weighted average (as a percent) | 7.98% | 7.91% |
Premises and equipment held for sale | Fair Value of Property | Fair Value on Nonrecurring Basis | Estimated Fair Value | Significant Unobservable Inputs (Level 3) | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair value | $ 15,744 | $ 2,599 |
Weighted average (as a percent) | 8.00% | 8.00% |
Impaired loans | Fair Value of Collateral | Fair Value on Nonrecurring Basis | Estimated Fair Value | Significant Unobservable Inputs (Level 3) | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair value | $ 1,123 | $ 1,420 |
Weighted average (as a percent) | 7.34% | 7.47% |
Fair Value - Carrying Amounts a
Fair Value - Carrying Amounts and Estimated Fair Values of Financial Instruments (Detail) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 | |
Financial Assets | |||
Trading securities | $ 4,290 | $ 3,791 | |
Investment securities available-for-sale at fair value (amortized cost $1,152,613 and $927,266, respectively) | 1,145,712 | 912,250 | |
Investment securities held-to-maturity | 431,269 | 460,911 | |
Gross asset value of derivatives | 1,230 | 1,078 | |
Financial Liabilities | |||
Contractual deposits | 2,218,444 | 2,137,312 | |
Federal Home Loan Bank advances | 470,600 | 545,701 | |
Gross liability value of derivatives | 1,953 | 1,354 | |
Quoted Prices in Active Markets for Identical Assets (Level 1) | |||
Financial Assets | |||
Cash and cash equivalents | 155,411 | 309,055 | |
Trading securities | 0 | 0 | |
Investment securities available-for-sale at fair value (amortized cost $1,152,613 and $927,266, respectively) | 0 | 0 | |
Investment securities held-to-maturity | 0 | 0 | |
Loans, net | 0 | 0 | |
Other earning assets | [1] | 0 | 0 |
Gross asset value of derivatives | 0 | 0 | |
Total financial assets | 155,411 | 309,055 | |
Financial Liabilities | |||
Non-contractual deposits | 0 | 0 | |
Contractual deposits | 0 | 0 | |
Federal Home Loan Bank advances | 0 | 0 | |
Short-term borrowings | 0 | 0 | |
Subordinated debentures | 0 | 0 | |
Gross liability value of derivatives | 0 | 0 | |
Total financial liabilities | 0 | 0 | |
Significant Other Observable Inputs (Level 2) | |||
Financial Assets | |||
Cash and cash equivalents | 0 | 0 | |
Trading securities | 4,290 | 3,791 | |
Investment securities available-for-sale at fair value (amortized cost $1,152,613 and $927,266, respectively) | 1,142,575 | 908,952 | |
Investment securities held-to-maturity | 431,269 | 460,911 | |
Loans, net | 3,533 | 12,874 | |
Other earning assets | [1] | 0 | 0 |
Gross asset value of derivatives | 1,230 | 1,078 | |
Total financial assets | 1,582,897 | 1,387,606 | |
Financial Liabilities | |||
Non-contractual deposits | 5,856,569 | 5,743,316 | |
Contractual deposits | 2,198,543 | 2,121,519 | |
Federal Home Loan Bank advances | 470,159 | 546,023 | |
Short-term borrowings | 32,630 | 19,154 | |
Subordinated debentures | 0 | 0 | |
Gross liability value of derivatives | 1,953 | 1,354 | |
Total financial liabilities | 8,559,854 | 8,431,366 | |
Significant Unobservable Inputs (Level 3) | |||
Financial Assets | |||
Cash and cash equivalents | 0 | 0 | |
Trading securities | 0 | 0 | |
Investment securities available-for-sale at fair value (amortized cost $1,152,613 and $927,266, respectively) | 3,137 | 3,298 | |
Investment securities held-to-maturity | 0 | 0 | |
Loans, net | 7,529,123 | 7,382,254 | |
Other earning assets | [1] | 28,944 | 32,050 |
Gross asset value of derivatives | 0 | 0 | |
Total financial assets | 7,561,204 | 7,417,602 | |
Financial Liabilities | |||
Non-contractual deposits | 0 | 0 | |
Contractual deposits | 0 | 0 | |
Federal Home Loan Bank advances | 0 | 0 | |
Short-term borrowings | 0 | 0 | |
Subordinated debentures | 116,007 | 114,593 | |
Gross liability value of derivatives | 0 | 0 | |
Total financial liabilities | 116,007 | 114,593 | |
Carrying Value | |||
Financial Assets | |||
Cash and cash equivalents | 155,411 | 309,055 | |
Trading securities | 4,290 | 3,791 | |
Investment securities available-for-sale at fair value (amortized cost $1,152,613 and $927,266, respectively) | 1,145,712 | 912,250 | |
Investment securities held-to-maturity | 430,411 | 463,959 | |
Loans, net | 7,525,476 | 7,363,127 | |
Other earning assets | [1] | 28,944 | 32,050 |
Gross asset value of derivatives | 1,230 | 1,078 | |
Total financial assets | 9,291,474 | 9,085,310 | |
Financial Liabilities | |||
Non-contractual deposits | 5,856,569 | 5,743,316 | |
Contractual deposits | 2,218,444 | 2,137,312 | |
Federal Home Loan Bank advances | 470,600 | 545,701 | |
Short-term borrowings | 32,637 | 19,157 | |
Subordinated debentures | 118,096 | 116,456 | |
Gross liability value of derivatives | 1,953 | 1,354 | |
Total financial liabilities | 8,698,299 | 8,563,296 | |
Estimated Fair Value | |||
Financial Assets | |||
Cash and cash equivalents | 155,411 | 309,055 | |
Trading securities | 4,290 | 3,791 | |
Investment securities available-for-sale at fair value (amortized cost $1,152,613 and $927,266, respectively) | 1,145,712 | 912,250 | |
Investment securities held-to-maturity | 431,269 | 460,911 | |
Loans, net | 7,532,656 | 7,395,128 | |
Other earning assets | [1] | 28,944 | 32,050 |
Gross asset value of derivatives | 1,230 | 1,078 | |
Total financial assets | 9,299,512 | 9,114,263 | |
Financial Liabilities | |||
Non-contractual deposits | 5,856,569 | 5,743,316 | |
Contractual deposits | 2,198,543 | 2,121,519 | |
Federal Home Loan Bank advances | 470,159 | 546,023 | |
Short-term borrowings | 32,630 | 19,154 | |
Subordinated debentures | 116,007 | 114,593 | |
Gross liability value of derivatives | 1,953 | 1,354 | |
Total financial liabilities | $ 8,675,861 | $ 8,545,959 | |
[1] | Includes Federal Home Loan Bank stock. |
Derivative and Hedging Activi81
Derivative and Hedging Activities - Additional Information (Detail) | 6 Months Ended | |
Jun. 30, 2017USD ($)derivative_instrumentcash_flow_hedge | Jun. 30, 2016USD ($) | |
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Estimated decrease to be reclassified to interest income in the next twelve months | $ 400,000 | |
Discontinued cash flow hedges | cash_flow_hedge | 0 | |
Gain (loss) reclassified into earnings due to discontinuance | $ 0 | |
Cash collateral received | 300,000 | |
Collateral posted against obligations | $ 500,000 | |
Liability derivatives, number of instruments | derivative_instrument | 11 | |
Non-interest income | ||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Gain (loss) on derivative | $ 29,000 | $ 57,000 |
Non-interest expense | ||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Gain (loss) on derivative | (113,000) | $ (2,000) |
Interest rate swap | ||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Collateral posted against obligations | 500,000 | |
Derivative liability | 1,952,000 | |
Interest rate swap | Derivatives not designated as hedging instruments | Non-interest income | ||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Gain (loss) on derivative | $ 200,000 |
Derivative and Hedging Activi82
Derivative and Hedging Activities - Summary of Derivative Instrument Contracts at Fair Value and Balance Sheet Classification (Detail) $ in Thousands | Jun. 30, 2017USD ($)derivative_instrument | Dec. 31, 2016USD ($) |
Derivatives, Fair Value [Line Items] | ||
Gross asset value of derivatives | $ 1,230 | $ 1,078 |
Asset derivatives, notional amount | $ 49,370 | 149,152 |
Liability derivatives, number of instruments | derivative_instrument | 11 | |
Liability derivatives, fair value | $ 1,953 | 1,354 |
Liability derivatives, notional amount | 275,611 | 151,817 |
Interest rate swap | ||
Derivatives, Fair Value [Line Items] | ||
Gross asset value of derivatives | 1,189 | |
Liability derivatives, fair value | 1,952 | |
Derivatives designated as hedging instruments | Interest rate swap | ||
Derivatives, Fair Value [Line Items] | ||
Gross asset value of derivatives | 1,189 | |
Liability derivatives, fair value | $ 1,952 | |
Derivatives designated as hedging instruments | Interest rate swap | Other assets | ||
Derivatives, Fair Value [Line Items] | ||
Asset derivatives, number of instruments | derivative_instrument | 0 | |
Gross asset value of derivatives | $ 0 | 130 |
Asset derivatives, notional amount | $ 0 | 120,000 |
Derivatives designated as hedging instruments | Interest rate swap | Other liabilities | ||
Derivatives, Fair Value [Line Items] | ||
Liability derivatives, number of instruments | derivative_instrument | 4 | |
Liability derivatives, fair value | $ 779 | 378 |
Liability derivatives, notional amount | $ 235,000 | 115,000 |
Derivatives not designated as hedging instruments | Interest rate swap | Other assets | ||
Derivatives, Fair Value [Line Items] | ||
Asset derivatives, number of instruments | derivative_instrument | 7 | |
Gross asset value of derivatives | $ 1,189 | 935 |
Asset derivatives, notional amount | $ 39,722 | 24,947 |
Derivatives not designated as hedging instruments | Interest rate swap | Other liabilities | ||
Derivatives, Fair Value [Line Items] | ||
Liability derivatives, number of instruments | derivative_instrument | 7 | |
Liability derivatives, fair value | $ 1,173 | 862 |
Liability derivatives, notional amount | $ 39,722 | 24,947 |
Derivatives not designated as hedging instruments | Forward loan sales contracts | Other assets | ||
Derivatives, Fair Value [Line Items] | ||
Asset derivatives, number of instruments | derivative_instrument | 71 | |
Gross asset value of derivatives | $ 41 | 13 |
Asset derivatives, notional amount | $ 9,648 | 4,205 |
Derivatives not designated as hedging instruments | Forward loan sales contracts | Other liabilities | ||
Derivatives, Fair Value [Line Items] | ||
Liability derivatives, number of instruments | derivative_instrument | 4 | |
Liability derivatives, fair value | $ 1 | 114 |
Liability derivatives, notional amount | $ 889 | $ 11,870 |
Derivative and Hedging Activi83
Derivative and Hedging Activities - Summary of Derivative Instrument on the Consolidated Statements of Income (Details) - Interest rate swap - Derivatives designated as hedging instruments - Cash Flow Hedging - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Amount of Gain Recognized in Accumulated OCI on Derivative (Effective Portion) | $ 650 | $ 2,155 | $ 199 | $ 7,681 |
Amount Recognized in Income on Derivative (Ineffective Portion) | 0 | 0 | 0 | 0 |
Interest income | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Amount of Gain Reclassified from Accumulated OCI on Derivative (Effective Portion) | $ 298 | $ 634 | $ 730 | $ 1,278 |
Derivative and Hedging Activi84
Derivative and Hedging Activities - Offsetting Derivative Assets and Liabilities (Details) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Offsetting of derivative assets: | ||
Gross Amount of Recognized Assets | $ 1,230 | $ 1,078 |
Offsetting of derivative liabilities: | ||
Gross Amount of Recognized Assets | 1,953 | $ 1,354 |
Interest rate swap | ||
Offsetting of derivative assets: | ||
Gross Amount of Recognized Assets | 1,189 | |
Gross Amount Offset in the Balance Sheets | 0 | |
Net Amount of Assets Presented in the Balance Sheets | 1,189 | |
Gross Amounts Not Offset in the Balance Sheets, Financial Instruments | 586 | |
Gross Amounts Not Offset in the Balance Sheets, Cash Collateral Received | 221 | |
Net Amount | 382 | |
Offsetting of derivative liabilities: | ||
Gross Amount of Recognized Assets | 1,952 | |
Gross Amount Offset in the Balance Sheets | 0 | |
Net Amount of Assets Presented in the Balance Sheets | 1,952 | |
Gross Amounts Not Offset in the Balance Sheets, Financial Instruments | 586 | |
Gross Amounts Not Offset in the Balance Sheets, Cash Collateral Received | 598 | |
Net Amount | 768 | |
Derivatives designated as hedging instruments | Interest rate swap | ||
Offsetting of derivative assets: | ||
Gross Amount of Recognized Assets | 1,189 | |
Gross Amount Offset in the Balance Sheets | 0 | |
Net Amount of Assets Presented in the Balance Sheets | 1,189 | |
Gross Amounts Not Offset in the Balance Sheets, Financial Instruments | 586 | |
Gross Amounts Not Offset in the Balance Sheets, Cash Collateral Received | 221 | |
Net Amount | 382 | |
Offsetting of derivative liabilities: | ||
Gross Amount of Recognized Assets | 1,952 | |
Gross Amount Offset in the Balance Sheets | 0 | |
Net Amount of Assets Presented in the Balance Sheets | 1,952 | |
Gross Amounts Not Offset in the Balance Sheets, Financial Instruments | 586 | |
Gross Amounts Not Offset in the Balance Sheets, Cash Collateral Received | 598 | |
Net Amount | $ 768 |