Document and Entity Information
Document and Entity Information - shares | 9 Months Ended | |
Sep. 30, 2017 | Oct. 23, 2017 | |
Document And Entity Information [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Sep. 30, 2017 | |
Document Fiscal Year Focus | 2,017 | |
Document Fiscal Period Focus | Q3 | |
Trading Symbol | WSBC | |
Entity Registrant Name | WESBANCO INC | |
Entity Central Index Key | 203,596 | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Large Accelerated Filer | |
Entity Common Stock, Shares Outstanding | 44,033,267 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 |
ASSETS | ||
Cash and due from banks, including interest bearing amounts of $14,704 and $21,913, respectively | $ 110,871 | $ 128,170 |
Securities: | ||
Trading securities, at fair value | 7,929 | 7,071 |
Available-for-sale, at fair value | 1,305,532 | 1,241,176 |
Held-to-maturity (fair values of $1,044,748 and $1,076,790, respectively) | 1,025,688 | 1,067,967 |
Total securities | 2,339,149 | 2,316,214 |
Loans held for sale | 26,888 | 17,315 |
Portfolio loans, net of unearned income | 6,373,049 | 6,249,436 |
Allowance for loan losses | (45,487) | (43,674) |
Net portfolio loans | 6,327,562 | 6,205,762 |
Premises and equipment, net | 133,497 | 133,297 |
Accrued interest receivable | 30,152 | 28,299 |
Goodwill and other intangible assets, net | 590,249 | 593,187 |
Bank-owned life insurance | 191,466 | 188,145 |
Other assets | 168,443 | 180,488 |
Total Assets | 9,918,277 | 9,790,877 |
Deposits: | ||
Non-interest bearing demand | 1,851,167 | 1,789,522 |
Interest bearing demand | 1,666,117 | 1,546,890 |
Money market | 990,788 | 995,477 |
Savings deposits | 1,258,887 | 1,213,168 |
Certificates of deposit | 1,334,066 | 1,495,822 |
Total deposits | 7,101,025 | 7,040,879 |
Federal Home Loan Bank borrowings | 1,015,011 | 968,946 |
Other short-term borrowings | 165,576 | 199,376 |
Subordinated debt and junior subordinated debt | 164,278 | 163,598 |
Total borrowings | 1,344,865 | 1,331,920 |
Accrued interest payable | 3,924 | 2,204 |
Other liabilities | 73,905 | 74,466 |
Total Liabilities | 8,523,719 | 8,449,469 |
SHAREHOLDERS' EQUITY | ||
Preferred stock, no par value; 1,000,000 shares authorized; none outstanding | ||
Common stock, $2.0833 par value; 100,000,000 shares authorized in 2017 and 2016, respectively; 44,041,572 and 43,931,715 shares issued, respectively; 44,033,585 and 43,931,715 shares outstanding, respectively | 91,753 | 91,524 |
Capital surplus | 683,348 | 680,507 |
Retained earnings | 641,329 | 597,071 |
Treasury stock (7,987 and 0 shares in 2017 and 2016, respectively, at cost) | (300) | |
Accumulated other comprehensive loss | (20,837) | (27,126) |
Deferred benefits for directors | (735) | (568) |
Total Shareholders' Equity | 1,394,558 | 1,341,408 |
Total Liabilities and Shareholders' Equity | $ 9,918,277 | $ 9,790,877 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 |
Statement of Financial Position [Abstract] | ||
Interest bearing deposits, banks | $ 14,704 | $ 21,913 |
Held-to-maturity securities, fair values | $ 1,044,748 | $ 1,076,790 |
Preferred stock, no par value | ||
Preferred stock, shares authorized | 1,000,000 | 1,000,000 |
Preferred stock, shares outstanding | 0 | 0 |
Common stock, par value | $ 2.0833 | $ 2.0833 |
Common stock, shares authorized | 100,000,000 | 100,000,000 |
Common stock, shares issued | 44,041,572 | 43,931,715 |
Common stock, shares outstanding | 44,033,585 | 43,931,715 |
Treasury stock, shares | 7,987 | 0 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
INTEREST AND DIVIDEND INCOME | ||||
Loans, including fees | $ 70,342 | $ 55,822 | $ 202,600 | $ 160,858 |
Interest and dividends on securities: | ||||
Taxable | 9,711 | 9,137 | 28,682 | 29,129 |
Tax-exempt | 4,862 | 4,559 | 14,617 | 13,620 |
Total interest and dividends on securities | 14,573 | 13,696 | 43,299 | 42,749 |
Other interest income | 574 | 574 | 1,674 | 1,671 |
Total interest and dividend income | 85,489 | 70,092 | 247,573 | 205,278 |
INTEREST EXPENSE | ||||
Interest bearing demand deposits | 1,814 | 691 | 4,413 | 1,841 |
Money market deposits | 751 | 444 | 1,970 | 1,350 |
Savings deposits | 189 | 173 | 555 | 502 |
Certificates of deposit | 2,610 | 2,592 | 7,512 | 7,835 |
Total interest expense on deposits | 5,364 | 3,900 | 14,450 | 11,528 |
Federal Home Loan Bank borrowings | 3,628 | 3,005 | 9,608 | 9,104 |
Other short-term borrowings | 394 | 118 | 954 | 299 |
Subordinated debt and junior subordinated debt | 1,849 | 1,043 | 5,449 | 2,706 |
Total interest expense | 11,235 | 8,066 | 30,461 | 23,637 |
NET INTEREST INCOME | 74,254 | 62,026 | 217,112 | 181,641 |
Provision for credit losses | 2,516 | 2,214 | 7,610 | 6,350 |
Net interest income after provision for credit losses | 71,738 | 59,812 | 209,502 | 175,291 |
NON-INTEREST INCOME | ||||
Trust fees | 5,358 | 5,413 | 17,073 | 16,160 |
Service charges on deposits | 5,320 | 4,733 | 15,254 | 12,861 |
Electronic banking fees | 4,883 | 3,945 | 14,395 | 11,290 |
Net securities brokerage revenue | 1,721 | 1,473 | 5,164 | 5,119 |
Bank-owned life insurance | 1,164 | 995 | 3,671 | 2,910 |
Net gains on sales of mortgage loans | 1,103 | 814 | 3,511 | 2,045 |
Net securities gains | 6 | 598 | 511 | 2,293 |
Net (loss)/gain on other real estate owned and other assets | (298) | 184 | 9 | 380 |
Other income | 1,642 | 2,862 | 6,318 | 6,943 |
Total non-interest income | 20,899 | 21,017 | 65,906 | 60,001 |
NON-INTEREST EXPENSE | ||||
Salaries and wages | 24,957 | 21,225 | 71,575 | 60,136 |
Employee benefits | 7,728 | 6,275 | 23,670 | 20,684 |
Net occupancy | 4,132 | 3,647 | 12,969 | 10,459 |
Equipment | 3,905 | 3,557 | 12,043 | 10,387 |
Marketing | 1,599 | 1,295 | 4,482 | 3,876 |
FDIC insurance | 945 | 961 | 2,677 | 3,225 |
Amortization of intangible assets | 1,223 | 837 | 3,736 | 2,263 |
Restructuring and merger-related expense | 9,883 | 491 | 10,577 | |
Other operating expenses | 11,265 | 9,921 | 34,380 | 28,696 |
Total non-interest expense | 55,754 | 57,601 | 166,023 | 150,303 |
Income before provision for income taxes | 36,883 | 23,228 | 109,385 | 84,989 |
Provision for income taxes | 10,527 | 5,793 | 30,801 | 22,572 |
NET INCOME | $ 26,356 | $ 17,435 | $ 78,584 | $ 62,417 |
EARNINGS PER COMMON SHARE | ||||
Basic | $ 0.60 | $ 0.44 | $ 1.79 | $ 1.61 |
Diluted | $ 0.60 | $ 0.44 | $ 1.78 | $ 1.61 |
AVERAGE COMMON SHARES OUTSTANDING | ||||
Basic | 44,031,813 | 39,715,516 | 43,992,017 | 38,828,618 |
Diluted | 44,086,881 | 39,743,291 | 44,059,469 | 38,855,453 |
DIVIDENDS DECLARED PER COMMON SHARE | $ 0.26 | $ 0.24 | $ 0.78 | $ 0.72 |
COMPREHENSIVE INCOME | $ 27,637 | $ 15,470 | $ 84,873 | $ 78,309 |
Consolidated Statements of Chan
Consolidated Statements of Changes in Shareholders' Equity - USD ($) $ in Thousands | Total | Common Stock [Member] | Capital Surplus [Member] | Retained Earnings [Member] | Treasury Stock [Member] | Accumulated Other Comprehensive (Loss) Income [Member] | Deferred Benefits for Directors [Member] |
Beginning Balance at Dec. 31, 2015 | $ 1,122,132 | $ 80,304 | $ 516,294 | $ 549,921 | $ (2,640) | $ (20,954) | $ (793) |
Beginning Balance, shares at Dec. 31, 2015 | 38,459,635 | ||||||
Net income | 62,417 | 62,417 | |||||
Other comprehensive income | 15,892 | 15,892 | |||||
Comprehensive income | 78,309 | ||||||
Common dividends declared ($0.78 and $0.72 per share in September 30, 2017 and 2016 respectively) | (28,946) | (28,946) | |||||
Shares issued for acquisition | 177,149 | $ 11,071 | 162,934 | 3,144 | |||
Shares issued for acquisition, shares | 5,423,348 | ||||||
Treasury shares acquired | (3,674) | 56 | (3,730) | ||||
Treasury shares acquired, shares | (130,041) | ||||||
Stock options exercised | 792 | $ 2 | (165) | 955 | |||
Stock options exercised, shares | 31,541 | ||||||
Issuance of restricted stock | (2,271) | 2,271 | |||||
Issuance of restricted stock, shares | 76,400 | ||||||
Stock compensation expense | 1,389 | 1,389 | |||||
Deferred benefits for directors- net | (230) | 230 | |||||
Ending Balance at Sep. 30, 2016 | 1,347,151 | $ 91,377 | 678,007 | 583,392 | (5,062) | (563) | |
Ending Balance, shares at Sep. 30, 2016 | 43,860,883 | ||||||
Beginning Balance at Dec. 31, 2016 | 1,341,408 | $ 91,524 | 680,507 | 597,071 | (27,126) | (568) | |
Beginning Balance, shares at Dec. 31, 2016 | 43,931,715 | ||||||
Net income | 78,584 | 78,584 | |||||
Other comprehensive income | 6,289 | 6,289 | |||||
Comprehensive income | 84,873 | ||||||
Common dividends declared ($0.78 and $0.72 per share in September 30, 2017 and 2016 respectively) | (34,326) | (34,326) | |||||
Treasury shares acquired | (488) | (488) | |||||
Treasury shares acquired, shares | (12,987) | ||||||
Stock options exercised | 1,121 | $ 75 | 858 | 188 | |||
Stock options exercised, shares | 40,834 | ||||||
Issuance of restricted stock | $ 154 | (154) | |||||
Issuance of restricted stock, shares | 74,023 | ||||||
Stock compensation expense | 1,970 | 1,970 | |||||
Deferred benefits for directors- net | 167 | (167) | |||||
Ending Balance at Sep. 30, 2017 | $ 1,394,558 | $ 91,753 | $ 683,348 | $ 641,329 | $ (300) | $ (20,837) | $ (735) |
Ending Balance, shares at Sep. 30, 2017 | 44,033,585 |
Consolidated Statements of Cha6
Consolidated Statements of Changes in Shareholders' Equity (Parenthetical) - $ / shares | 9 Months Ended | |
Sep. 30, 2017 | Sep. 30, 2016 | |
Common dividends declared, per share | $ 0.78 | $ 0.72 |
Retained Earnings [Member] | ||
Common dividends declared, per share | $ 0.78 | $ 0.72 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2017 | Sep. 30, 2016 | |
Statement of Cash Flows [Abstract] | ||
NET CASH PROVIDED BY OPERATING ACTIVITIES | $ 93,506 | $ 89,175 |
INVESTING ACTIVITIES | ||
Net increase in loans held for investment | (122,332) | (160,654) |
Securities available-for-sale: | ||
Proceeds from sales | 7,760 | 277,225 |
Proceeds from maturities, prepayments and calls | 156,944 | 214,786 |
Purchases of securities | (225,404) | (171,169) |
Securities held-to-maturity: | ||
Proceeds from maturities, prepayments and calls | 90,457 | 72,859 |
Purchases of securities | (53,251) | (34,530) |
Proceeds from bank-owned life insurance | 349 | 19 |
Cash received to acquire a business, net | 4,863 | |
Purchases of premises and equipment - net | (6,223) | (3,894) |
Net cash (used in) provided by investing activities | (151,700) | 199,505 |
FINANCING ACTIVITIES | ||
Increase (decrease) in deposits | 61,389 | (123,708) |
Proceeds from Federal Home Loan Bank borrowings | 560,000 | |
Repayment of Federal Home Loan Bank borrowings | (513,911) | (112,116) |
Increase in other short-term borrowings | 20,200 | 6,832 |
Decrease in federal funds purchased | (54,000) | |
Dividends paid to common shareholders | (33,416) | (27,277) |
Issuance of common stock | 991 | 2 |
Treasury shares purchased - net | (358) | (2,966) |
Net cash provided by (used in) financing activities | 40,895 | (259,233) |
Net (decrease) increase in cash and cash equivalents | (17,299) | 29,447 |
Cash and cash equivalents at beginning of the period | 128,170 | 86,685 |
Cash and cash equivalents at end of the period | 110,871 | 116,132 |
SUPPLEMENTAL DISCLOSURES | ||
Interest paid on deposits and other borrowings | 29,857 | 24,141 |
Income taxes paid | 20,825 | 17,925 |
Transfers of loans to other real estate owned | $ 506 | 3,368 |
Non-cash transactions related to the YCB acquisition | $ 177,149 |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 9 Months Ended |
Sep. 30, 2017 | |
Accounting Policies [Abstract] | |
Summary of Significant Accounting Policies | NOTE 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of presentation — 10-Q S-X. 10-K WesBanco’s interim financial statements have been prepared following the significant accounting policies disclosed in Note 1 of the Notes to the Consolidated Financial Statements of its 2016 Annual Report on Form 10-K Recent accounting pronouncements — No. 2017-12 2017-12 In May 2017, the FASB issued ASU No. 2017-09 2017-09 In March 2017, FASB issued ASU 2017-08 In March 2017, the FASB issued ASU 2017-07 non-interest In January 2017, the FASB issued ASU 2017-04 In January 2017, the FASB issued ASU No. 2017-01, 2017-01 2017-01 In October 2016, the FASB issued ASU 2016-16 In August 2016, the FASB issued ASU 2016-15 zero-coupon In June 2016, the FASB issued ASU 2016-13 held-to-maturity available-for-sale In March 2016, the FASB issued ASU 2016-09 In March 2016, the FASB issued ASU 2016-07 In February 2016, the FASB issued ASU 2016-02 In January 2016, the FASB issued ASU 2016-01 In May 2014, the FASB issued ASU 2014-09 one-year 2016-08, 2016-10, 2016-12, In January 2014, the FASB issued ASU No. 2014-01, |
Mergers and Acquisitions
Mergers and Acquisitions | 9 Months Ended |
Sep. 30, 2017 | |
Business Combinations [Abstract] | |
Mergers and Acquisitions | NOTE 2. MERGERS AND ACQUISITIONS On September 9, 2016, WesBanco completed its acquisition of Your Community Bankshares, Inc. (“YCB”), and its wholly-owned On the acquisition date, YCB had $1.5 billion in total assets, excluding goodwill, including $1.0 billion in loans and $173.2 million in securities. The YCB acquisition was valued at $220.5 million, based on WesBanco’s closing stock price on September 9, 2016 of $32.62, and resulted in WesBanco issuing 5,423,348 shares of its common stock and $43.3 million in cash in exchange for all of the outstanding shares of YCB common stock. The assets and liabilities of YCB were recorded on WesBanco’s balance sheet at their fair value as of September 9, 2016, the acquisition date, and YCB’s results of operations have been included in WesBanco’s Consolidated Statements of Income since that date. Based on the final purchase price allocation, WesBanco recorded $93.0 million in goodwill and $12.0 million in core deposit intangibles in its Community Banking segment, representing the principal change in goodwill and intangibles in 2016. None of the goodwill is deductible for income tax purposes, as the acquisition is accounted for as a tax-free For the nine months ended September 30, 2017 and for the twelve months ended December 31, 2016, WesBanco recorded merger-related expenses of $0.5 million and $13.3 million, respectively, associated with the YCB acquisition. The final purchase price of the YCB acquisition and resulting goodwill is summarized as follows: (unaudited, in thousands) September 9, 2016 Purchase Price: Fair value of WesBanco shares issued $ 177,149 Cash consideration for outstanding YCB shares 43,349 Total purchase price $ 220,498 Fair value of: Tangible assets acquired $ 1,398,183 Core deposit and other intangible assets acquired 11,957 Liabilities assumed (1,330,887 ) Net cash received in the acquisition 48,212 Fair value of net assets acquired $ 127,465 Goodwill recognized $ 93,033 The following table presents the allocation of the purchase price of the assets acquired and the liabilities assumed at the date of acquisition. (unaudited, in thousands) September 9, 2016 Assets acquired Cash and due from banks $ 48,212 Securities 173,223 Loans 1,012,410 Goodwill and other intangible assets 104,990 Accrued income and other assets (1) 212,550 Total assets acquired $ 1,551,385 Liabilities assumed Deposits $ 1,193,010 Borrowings 123,001 Accrued expenses and other liabilities 14,876 Total liabilities assumed 1,330,887 Net assets acquired $ 220,498 (1) Includes receivables of $105.8 million from the sale of available-for-sale There were no adjustments to the allocation of the purchase price of the assets acquired and the liabilities assumed during the third quarter of 2017. The following table presents the changes in the allocation of the purchase price of the assets acquired and the liabilities assumed at the date of the acquisition previously reported as of December 31, 2016: (unaudited, in thousands) September 9, 2016 Goodwill recognized as of December 31, 2016 $ 92,889 Change in fair value of net assets acquired: Assets Loans (1,156 ) Accrued income and other assets 743 Liabilities Borrowings — Accrued expenses and other liabilities 269 Fair value of net assets acquired $ (144 ) Increase in goodwill recognized 144 Goodwill recognized as of September 30, 2017 $ 93,033 |
Earnings Per Common Share
Earnings Per Common Share | 9 Months Ended |
Sep. 30, 2017 | |
Earnings Per Share [Abstract] | |
Earnings Per Common Share | NOTE 3. EARNINGS PER COMMON SHARE Earnings per common share are calculated as follows: (unaudited, in thousands, except shares and per share amounts) For the Three Months Ended For the Nine Months Ended 2017 2016 2017 2016 Numerator for both basic and diluted earnings per common share: Net income $ 26,356 $ 17,435 $ 78,584 $ 62,417 Denominator: Total average basic common shares outstanding 44,031,813 39,715,516 43,992,017 38,828,618 Effect of dilutive stock options and other stock compensation 55,068 27,775 67,452 26,835 Total diluted average common shares outstanding 44,086,881 39,743,291 44,059,469 38,855,453 Earnings per common share – basic $ 0.60 $ 0.44 $ 1.79 $ 1.61 Earnings per common share – diluted $ 0.60 $ 0.44 $ 1.78 $ 1.61 Options to purchase 117,550 shares and 96,600 shares at September 30, 2017 and 2016, respectively, were not included in the computation of net income per diluted share for the three months ended September 30, 2017 and 2016, respectively, because the exercise price was greater than the average market price of the common shares and, therefore, the effect would be antidilutive. All options to purchase shares were included in the nine months ended September 30, 2017 computation of net income per diluted share. Options to purchase 185,250 shares were not included in the computation of net income per diluted share for the nine months ended September 30, 2016 because the exercise price was greater than the average market price of the common shares and, therefore, the effect would be antidilutive. As of September 30, 2017, 28,502 shares of market and performance-based restricted stock were not included in the computation of net income per diluted share for the three and nine months ended September 30, 2017 because the effect would be antidilutive. There were no antidilutive shares of restricted stock excluded from the computation of net income for the three or nine months ended September 30, 2016. On September 9, 2016, WesBanco issued 5,423,348 shares of common stock (109,257 of which shares were treasury stock) to complete its acquisition of YCB. These shares are included in average shares outstanding beginning on that date. For additional information relating to the YCB acquisition, refer to Note 2, “Mergers and Acquisitions.” |
Securities
Securities | 9 Months Ended |
Sep. 30, 2017 | |
Investments, Debt and Equity Securities [Abstract] | |
Securities | NOTE 4. SECURITIES The following table presents the fair value and amortized cost of available-for-sale held-to-maturity September 30, 2017 December 31, 2016 (unaudited, in thousands) Amortized Gross Gross Estimated Value Amortized Gross Gross Estimated Value Available-for-sale U.S. Government sponsored entities and agencies $ 72,672 $ 88 $ (441 ) $ 72,319 $ 54,803 $ 3 $ (763 ) $ 54,043 Residential mortgage-backed securities and collateralized mortgage obligations of government sponsored entities and agencies 974,370 776 (11,672 ) 963,474 953,475 884 (16,070 ) 938,289 Commercial mortgage-backed securities and collateralized mortgage obligations of government sponsored entities and agencies 122,908 77 (1,151 ) 121,834 98,922 27 (2,139 ) 96,810 Obligations of states and political subdivisions 104,228 3,187 (568 ) 106,847 110,208 3,114 (1,659 ) 111,663 Corporate debt securities 35,249 325 (71 ) 35,503 35,292 117 (108 ) 35,301 Total debt securities $ 1,309,427 $ 4,453 $ (13,903 ) $ 1,299,977 $ 1,252,700 $ 4,145 $ (20,739 ) $ 1,236,106 Equity securities 4,238 1,320 (3 ) 5,555 4,062 1,032 (24 ) 5,070 Total available-for-sale $ 1,313,665 $ 5,773 $ (13,906 ) $ 1,305,532 $ 1,256,762 $ 5,177 $ (20,763 ) $ 1,241,176 Held-to-maturity U.S. Government sponsored entities and agencies $ 12,128 $ — $ (254 ) $ 11,874 $ 13,394 $ — $ (414 ) $ 12,980 Residential mortgage-backed securities and collateralized mortgage obligations of government sponsored entities and agencies 178,429 763 (1,467 ) 177,725 215,141 1,279 (2,563 ) 213,857 Obligations of states and political subdivisions 801,760 20,153 (1,200 ) 820,713 805,019 15,652 (5,529 ) 815,142 Corporate debt securities 33,371 1,065 — 34,436 34,413 418 (20 ) 34,811 Total held-to-maturity $ 1,025,688 $ 21,981 $ (2,921 ) $ 1,044,748 $ 1,067,967 $ 17,349 $ (8,526 ) $ 1,076,790 Total $ 2,339,353 $ 27,754 $ (16,827 ) $ 2,350,280 $ 2,324,729 $ 22,526 $ (29,289 ) $ 2,317,966 Trading securities, which consist of investments in various mutual funds held in grantor trusts formed in connection with the Company’s deferred compensation plan, are recorded at fair value and totaled $7.9 million and $7.1 million, at September 30, 2017 and December 31, 2016, respectively. At September 30, 2017 and December 31, 2016, there were no holdings of any one issuer, other than U.S. government sponsored entities and its agencies, in an amount greater than 10% of WesBanco’s shareholders’ equity. The following table presents the fair value of available-for-sale held-to-maturity September 30, 2017 One Year One to Five to After Mortgage-backed (unaudited, in thousands) or less Five Years Ten Years Ten Years and Equity Total Available-for-sale U.S. Government sponsored entities and agencies $ — $ 11,967 $ 16,855 $ 6,908 $ 36,589 $ 72,319 Residential mortgage-backed securities and collateralized mortgage obligations of government sponsored entities and agencies (1) — — — — 963,474 963,474 Commercial mortgage-backed securities and collateralized mortgage obligations of government sponsored entities and agencies (1) — — — — 121,834 121,834 Obligations of states and political subdivisions 7,723 17,886 36,514 44,724 — 106,847 Corporate debt securities — 30,483 5,020 — — 35,503 Equity securities (2) — — — — 5,555 5,555 Total available-for-sale $ 7,723 $ 60,336 $ 58,389 $ 51,632 $ 1,127,452 $ 1,305,532 Held-to-maturity (3) U.S. Government sponsored entities and agencies $ — $ — $ — $ — $ 11,874 $ 11,874 Residential mortgage-backed securities and collateralized mortgage obligations of government sponsored entities and agencies (1) — — — — 177,725 177,725 Obligations of states and political subdivisions 4,703 88,402 412,322 315,286 — 820,713 Corporate debt securities — 2,804 31,632 — — 34,436 Total held-to-maturity $ 4,703 $ 91,206 $ 443,954 $ 315,286 $ 189,599 $ 1,044,748 Total $ 12,426 $ 151,542 $ 502,343 $ 366,918 $ 1,317,051 $ 2,350,280 (1) Mortgage-backed and collateralized mortgage securities, which have prepayment provisions, are not assigned to maturity categories due to fluctuations in their prepayment speeds. (2) Equity securities, which have no stated maturity, are not assigned a maturity category. (3) The held-to-maturity Securities with aggregate fair values of $1.4 billion and $1.2 billion at September 30, 2017 and December 31, 2016, respectively, were pledged as security for public and trust funds, and securities sold under agreements to repurchase. Proceeds from the sale of available-for-sale available-for-sale The following table presents the gross realized gains and losses on sales and calls of available-for-sale held-to-maturity non-interest For the Three For the Nine September 30, September 30, (unaudited, in thousands) 2017 2016 2017 2016 Gross realized gains $ 29 $ 602 $ 603 $ 2,517 Gross realized losses (23 ) (4 ) (92 ) (224 ) Net realized gains $ 6 $ 598 $ 511 $ 2,293 The following tables provide information on unrealized losses on investment securities that have been in an unrealized loss position for less than twelve months and twelve months or more as of September 30, 2017 and December 31, 2016: September 30, 2017 Less than 12 months 12 months or more Total Fair Unrealized # of Fair Unrealized # of Fair Unrealized # of (unaudited, dollars in thousands) Value Losses Securities Value Losses Securities Value Losses Securities U.S. Government sponsored entities and agencies $ 29,875 $ (208 ) 6 $ 36,284 $ (487 ) 5 $ 66,159 $ (695 ) 11 Residential mortgage-backed securities and collateralized mortgage obligations of government sponsored entities and agencies 729,219 (6,426 ) 180 254,554 (6,713 ) 69 983,773 (13,139 ) 249 Commercial mortgage-backed securities and collateralized mortgage obligations of government sponsored entities and agencies 93,924 (1,135 ) 13 660 (16 ) 2 94,584 (1,151 ) 15 Obligations of states and political subdivisions 96,323 (526 ) 153 73,210 (1,242 ) 156 169,533 (1,768 ) 309 Corporate debt securities 4,015 (22 ) 1 6,960 (49 ) 2 10,975 (71 ) 3 Equity securities 1,359 (3 ) 1 — — — 1,359 (3 ) 1 Total temporarily impaired securities $ 954,715 $ (8,320 ) 354 $ 371,668 $ (8,507 ) 234 $ 1,326,383 $ (16,827 ) 588 December 31, 2016 Less than 12 months 12 months or more Total Fair Unrealized # of Fair Unrealized # of Fair Unrealized # of (unaudited, dollars in thousands) Value Losses Securities Value Losses Securities Value Losses Securities U.S. Government sponsored entities and agencies $ 58,108 $ (1,177 ) 11 $ — $ — — $ 58,108 $ (1,177 ) 11 Residential mortgage-backed securities and collateralized mortgage obligations of government sponsored entities and agencies 969,174 (16,436 ) 232 58,839 (2,197 ) 14 1,028,013 (18,633 ) 246 Commercial mortgage-backed securities and collateralized mortgage obligations of government sponsored entities and agencies 88,169 (2,122 ) 14 679 (17 ) 2 88,848 (2,139 ) 16 Obligations of states and political subdivisions 364,583 (7,121 ) 604 2,047 (67 ) 3 366,630 (7,188 ) 607 Corporate debt securities 10,011 (78 ) 3 5,973 (50 ) 2 15,984 (128 ) 5 Equity securities 2,938 (24 ) 2 — — — 2,938 (24 ) 2 Total temporarily impaired securities $ 1,492,983 $ (26,958 ) 866 $ 67,538 $ (2,331 ) 21 $ 1,560,521 $ (29,289 ) 887 Unrealized losses on debt securities in the tables represent temporary fluctuations resulting from changes in market rates in relation to fixed yields. Unrealized losses in the available-for-sale WesBanco does not believe the securities presented above are impaired due to reasons of credit quality, as substantially all debt securities are rated above investment grade and all are paying principal and interest according to their contractual terms. WesBanco does not intend to sell, nor is it more likely than not that it will be required to sell, loss position securities prior to recovery of their cost, and therefore, management believes the unrealized losses detailed above are temporary and no impairment loss relating to these securities has been recognized. Securities that do not have readily determinable fair values and for which WesBanco does not exercise significant influence are carried at cost. Cost method investments consist primarily of FHLB of Pittsburgh, Cincinnati and Indianapolis stock totaling $48.6 million and $46.4 million at September 30, 2017 and December 31, 2016, respectively, and are included in other assets in the Consolidated Balance Sheets. Cost method investments are evaluated for impairment whenever events or circumstances suggest that their carrying value may not be recoverable. |
Loans and the Allowance for Cre
Loans and the Allowance for Credit Losses | 9 Months Ended |
Sep. 30, 2017 | |
Receivables [Abstract] | |
Loans and the Allowance for Credit Losses | NOTE 5. LOANS AND THE ALLOWANCE FOR CREDIT LOSSES The recorded investment in loans is presented in the Consolidated Balance Sheets net of deferred loan fees and costs, and discounts on purchased loans. The deferred loan (costs) and fees were $(1.0) million and $0.3 million at September 30, 2017 and December 31, 2016, respectively. The unamortized discount on purchased loans from acquisitions was $23.0 million, including $11.1 million related to YCB, and $24.1 million at September 30, 2017 and December 31, 2016, respectively. (unaudited, in thousands) September 30, December 31, Commercial real estate: Land and construction $ 606,593 $ 496,539 Improved property 2,407,819 2,376,972 Total commercial real estate 3,014,412 2,873,511 Commercial and industrial 1,125,693 1,088,118 Residential real estate 1,356,580 1,383,390 Home equity 527,216 508,359 Consumer 349,148 396,058 Total portfolio loans 6,373,049 6,249,436 Loans held for sale 26,888 17,315 Total loans $ 6,399,937 $ 6,266,751 The following tables summarize changes in the allowance for credit losses applicable to each category of the loan portfolio: Allowance for Credit Losses By Category For the Nine Months Ended September 30, 2017 and 2016 Commercial Commercial Real Estate- Real Estate- Land and Improved Commercial Residential Home Deposit (unaudited, in thousands) Construction Property & Industrial Real Estate Equity Consumer Overdraft Total Balance at December 31, 2016: Allowance for loan losses $ 4,348 $ 18,628 $ 8,412 $ 4,106 $ 3,422 $ 3,998 $ 760 $ 43,674 Allowance for loan commitments 151 17 188 9 162 44 — 571 Total beginning allowance for credit losses 4,499 18,645 8,600 4,115 3,584 4,042 760 44,245 Provision for credit losses: Provision for loan losses 415 1,619 2,842 (203 ) 1,259 922 680 7,534 Provision for loan commitments (18 ) 4 45 — 49 (4 ) — 76 Total provision for credit losses 397 1,623 2,887 (203 ) 1,308 918 680 7,610 Charge-offs — (1,752 ) (2,255 ) (797 ) (372 ) (2,877 ) (947 ) (9,000 ) Recoveries 89 492 649 266 180 1,336 267 3,279 Net charge-offs 89 (1,260 ) (1,606 ) (531 ) (192 ) (1,541 ) (680 ) (5,721 ) Balance at September 30, 2017: Allowance for loan losses 4,852 18,987 9,648 3,372 4,489 3,379 760 45,487 Allowance for loan commitments 133 21 233 9 211 40 — 647 Total ending allowance for credit losses $ 4,985 $ 19,008 $ 9,881 $ 3,381 $ 4,700 $ 3,419 $ 760 $ 46,134 Balance at December 31, 2015: Allowance for loan losses $ 4,390 $ 14,748 $ 10,002 $ 4,582 $ 2,883 $ 4,763 $ 342 $ 41,710 Allowance for loan commitments 157 26 260 7 117 46 — 613 Total beginning allowance for credit losses 4,547 14,774 10,262 4,589 3,000 4,809 342 42,323 Provision for credit losses: Provision for loan losses 498 1,351 2,827 (67 ) 301 918 559 6,387 Provision for loan commitments (5 ) — (40 ) 2 8 (2 ) — (37 ) Total provision for credit losses 493 1,351 2,787 (65 ) 309 916 559 6,350 Charge-offs (73 ) (1,732 ) (2,883 ) (529 ) (345 ) (2,733 ) (585 ) (8,880 ) Recoveries 3 1,406 241 351 171 1,199 167 3,538 Net charge-offs (70 ) (326 ) (2,642 ) (178 ) (174 ) (1,534 ) (418 ) (5,342 ) Balance at September 30, 2016: Allowance for loan losses 4,818 15,773 10,187 4,337 3,010 4,147 483 42,755 Allowance for loan commitments 152 26 220 9 125 44 — 576 Total ending allowance for credit losses $ 4,970 $ 15,799 $ 10,407 $ 4,346 $ 3,135 $ 4,191 $ 483 $ 43,331 The following tables present the allowance for credit losses and recorded investments in loans by category: Allowance for Credit Losses and Recorded Investment in Loans Commercial Commercial Real Estate- Real Estate- Commercial Residential Deposit Land and Improved and Real Home Over- (unaudited, in thousands) Construction Property Industrial Estate Equity Consumer draft Total September 30, 2017 Allowance for credit losses: Allowance for loans individually evaluated for impairment $ — $ 579 $ — $ — $ — $ — $ — $ 579 Allowance for loans collectively evaluated for impairment 4,852 18,408 9,648 3,372 4,489 3,379 760 44,908 Allowance for loan commitments 133 21 233 9 211 40 — 647 Total allowance for credit losses $ 4,985 $ 19,008 $ 9,881 $ 3,381 $ 4,700 $ 3,419 $ 760 $ 46,134 Portfolio loans: Individually evaluated for impairment (1) $ — $ 5,117 $ — $ — $ — $ — $ — $ 5,117 Collectively evaluated for impairment 605,100 2,397,278 1,124,824 1,355,829 527,216 349,141 — 6,359,388 Acquired with deteriorated credit quality 1,493 5,424 869 751 — 7 — 8,544 Total portfolio loans $ 606,593 $ 2,407,819 $ 1,125,693 $ 1,356,580 $ 527,216 $ 349,148 $ — $ 6,373,049 December 31, 2016 Allowance for credit losses: Allowance for loans individually evaluated for impairment $ — $ 470 $ 407 $ — $ — $ — $ — $ 877 Allowance for loans collectively evaluated for impairment 4,348 18,158 8,005 4,106 3,422 3,998 760 42,797 Allowance for loan commitments 151 17 188 9 162 44 — 571 Total allowance for credit losses $ 4,499 $ 18,645 $ 8,600 $ 4,115 $ 3,584 $ 4,042 $ 760 $ 44,245 Portfolio loans: Individually evaluated for impairment (1) $ — $ 3,012 $ 1,270 $ — $ — $ — $ — $ 4,282 Collectively evaluated for impairment 494,928 2,364,067 1,086,445 1,382,447 508,359 396,049 — 6,232,295 Acquired with deteriorated credit quality 1,611 9,893 403 943 — 9 — 12,859 Total portfolio loans $ 496,539 $ 2,376,972 $ 1,088,118 $ 1,383,390 $ 508,359 $ 396,058 $ — $ 6,249,436 (1) Commercial loans greater than $1 million that are reported as non-accrual WesBanco maintains an internal loan grading system to reflect the credit quality of commercial loans. Commercial loan risk grades are determined based on an evaluation of the relevant characteristics of each loan, assigned at the inception of each loan and adjusted thereafter at any time to reflect changes in the risk profile throughout the life of each loan. The primary factors used to determine the risk grade are the reliability and sustainability of the primary source of repayment and overall financial strength of the borrower. This includes an analysis of cash flow available to repay debt, profitability, liquidity, leverage, and overall financial trends. Other factors include management, industry or property type risks, an assessment of secondary sources of repayment such as collateral or guarantees, other terms and conditions of the loan that may increase or reduce its risk, and economic conditions and other external factors that may influence repayment capacity and financial condition. Commercial real estate – land and construction consists of loans to finance investments in vacant land, land development, construction of residential housing, and construction of commercial buildings. Commercial real estate – improved property consists of loans for the purchase or refinance of all types of improved owner-occupied and investment properties. Factors that are considered in assigning the risk grade vary depending on the type of property financed. The risk grade assigned to construction and development loans is based on the overall viability of the project, the experience and financial capacity of the developer or builder to successfully complete the project, project specific and market absorption rates and comparable property values, and the amount of pre-sales pre-leases non-real Pass loans are those that exhibit a history of positive financial results that are at least comparable to the average for their industry or type of real estate. The primary source of repayment is acceptable and these loans are expected to perform satisfactorily during most economic cycles. Pass loans typically have no significant external factors that are expected to adversely affect these borrowers more than others in the same industry or property type. Any minor unfavorable characteristics of these loans are outweighed or mitigated by other positive factors including but not limited to adequate secondary or tertiary sources of repayment. Criticized or compromised loans are currently protected but have weaknesses, which, if not corrected, may be inadequately protected at some future date. These loans represent an unwarranted credit risk and would generally not be extended in the normal course of lending. Specific issues which may warrant this grade include declining financial results, increased reliance on secondary sources of repayment or guarantor support and adverse external influences that may negatively impact the business or property. Substandard and doubtful loans are equivalent to the classifications used by banking regulators. Substandard loans are inadequately protected by the current repayment capacity and equity of the borrower or collateral pledged, if any. Substandard loans have one or more well-defined weaknesses that jeopardize their repayment or collection in full. These loans may or may not be reported as non-accrual. The following tables summarize commercial loans by their assigned risk grade: Commerical Loans by Internally Assigned Risk Grade (unaudited, in thousands) Commercial Real Estate- Land and Construction Commercial Real Estate- Improved Property Commercial & Industrial Total Commercial Loans As of September 30, 2017 Pass $ 600,325 $ 2,350,919 $ 1,109,774 $ 4,061,018 Criticized - compromised 2,971 24,550 7,263 34,784 Classified - substandard 3,297 32,350 8,656 44,303 Classified - doubtful — — — — Total $ 606,593 $ 2,407,819 $ 1,125,693 $ 4,140,105 As of December 31, 2016 Pass $ 489,380 $ 2,324,755 $ 1,072,751 $ 3,886,886 Criticized - compromised 4,405 15,295 5,078 24,778 Classified - substandard 2,754 36,922 10,289 49,965 Classified - doubtful — — — — Total $ 496,539 $ 2,376,972 $ 1,088,118 $ 3,961,629 Residential real estate, home equity and consumer loans are not assigned internal risk grades other than as required by regulatory guidelines that are based primarily on the age of past due loans. WesBanco primarily evaluates the credit quality of residential real estate, home equity and consumer loans based on repayment performance and historical loss rates. The aggregate amount of residential real estate, home equity and consumer loans classified as substandard in accordance with regulatory guidelines was $22.4 million at September 30, 2017 and $20.6 million at December 31, 2016, of which $4.6 million and $3.4 million were accruing, respectively. The aggregate amount of residential real estate, home equity and consumer loans classified as substandard are not included in the tables above. Acquired YCB Loans 310-30, non-accrual. Acquired ESB Loans 310-30, non-accrual. The following table provides changes in accretable yield for loans acquired with deteriorated credit quality: For the Nine Months Ended (unaudited, in thousands) September 30, 2017 September 30, 2016 Balance at beginning of period $ 1,717 $ 1,206 Acquisitions — 669 Reduction due to change in projected cash flows — (324 ) Reclass from non-accretable difference 1,490 1,065 Transfers (216 ) (328 ) Accretion (1,384 ) (398 ) Balance at end of period $ 1,607 $ 1,890 The following tables summarize the age analysis of all categories of loans: Age Analysis of Loans (unaudited, in thousands) Current 30-59 Days Past Due 60-89 Days Past Due 90 Days or More Past Due Total Past Due Total Loans 90 Days or More Past Due and Accruing (1) As of September 30, 2017 Commercial real estate: Land and construction $ 606,122 $ — $ — $ 471 $ 471 $ 606,593 $ — Improved property 2,391,693 2,235 617 13,274 16,126 2,407,819 542 Total commercial real estate 2,997,815 2,235 617 13,745 16,597 3,014,412 542 Commercial and industrial 1,121,307 1,363 497 2,526 4,386 1,125,693 20 Residential real estate 1,341,924 4,831 759 9,066 14,656 1,356,580 2,418 Home equity 519,110 3,354 808 3,944 8,106 527,216 1,289 Consumer 344,241 3,134 901 872 4,907 349,148 587 Total portfolio loans 6,324,397 14,917 3,582 30,153 48,652 6,373,049 4,856 Loans held for sale 26,888 — — — — 26,888 — Total loans $ 6,351,285 $ 14,917 $ 3,582 $ 30,153 $ 48,652 $ 6,399,937 $ 4,856 Impaired loans included above are as follows: Non-accrual $ 9,360 $ 873 $ 226 $ 24,999 $ 26,098 $ 35,458 TDRs accruing interest (1) 6,232 108 — 298 406 6,638 Total impaired $ 15,592 $ 981 $ 226 $ 25,297 $ 26,504 $ 42,096 As of December 31, 2016 Commercial real estate: Land and construction $ 496,245 $ — $ — $ 294 $ 294 $ 496,539 $ — Improved property 2,367,790 1,154 363 7,665 9,182 2,376,972 318 Total commercial real estate 2,864,035 1,154 363 7,959 9,476 2,873,511 318 Commercial and industrial 1,082,390 2,508 1,011 2,209 5,728 1,088,118 229 Residential real estate 1,365,956 6,701 1,043 9,690 17,434 1,383,390 1,922 Home equity 502,087 2,358 862 3,052 6,272 508,359 626 Consumer 390,354 3,674 1,149 881 5,704 396,058 644 Total portfolio loans 6,204,822 16,395 4,428 23,791 44,614 6,249,436 3,739 Loans held for sale 17,315 — — — — 17,315 — Total loans $ 6,222,137 $ 16,395 $ 4,428 $ 23,791 $ 44,614 $ 6,266,751 $ 3,739 Impaired loans included above are as follows: Non-accrual $ 7,570 $ 3,479 $ 923 $ 19,812 $ 24,214 $ 31,784 TDRs accruing interest (1) 7,014 342 50 240 632 7,646 Total impaired $ 14,584 $ 3,821 $ 973 $ 20,052 $ 24,846 $ 39,430 (1) Loans 90 days or more past due and accruing interest exclude TDRs 90 days or more past due and accruing interest. The following tables summarize impaired loans: Impaired Loans September 30, 2017 December 31, 2016 Unpaid Principal Balance (1 Recorded Investment Related Allowance Unpaid Principal Balance (1) Recorded Investment Related Allowance (unaudited, in thousands) With no related specific allowance recorded: Commercial real estate: Land and construction $ 666 $ 474 $ — $ 1,212 $ 766 $ — Improved property 15,981 10,709 — 9,826 8,141 — Commercial and industrial 3,884 3,083 — 4,456 3,181 — Residential real estate 18,925 17,094 — 20,152 18,305 — Home equity 5,528 4,845 — 4,589 4,011 — Consumer 934 774 — 884 744 — Total impaired loans without a specific allowance 45,918 36,979 — 41,119 35,148 — With a specific allowance recorded: Commercial real estate: Land and construction — — — — — — Improved property 5,117 5,117 579 3,012 3,012 470 Commercial and industrial — — — 4,875 1,270 407 Total impaired loans with a specific allowance 5,117 5,117 579 7,887 4,282 877 Total impaired loans $ 51,035 $ 42,096 $ 579 $ 49,006 $ 39,430 $ 877 (1) The difference between the unpaid principal balance and the recorded investment generally reflects amounts that have been previously charged-off Impaired Loans For the Three Months Ended For the Nine Months Ended September 30, 2017 September 30, 2016 September 30, 2017 September 30, 2016 Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized (unaudited, in thousands) With no related specific allowance recorded: Commercial real estate: Land and construction $ 444 $ — $ 701 $ — $ 516 $ — $ 1,062 $ — Improved Property 10,923 31 8,403 28 10,271 400 9,408 86 Commercial and industrial 3,588 2 3,172 2 3,700 6 3,246 7 Residential real estate 17,039 57 17,013 81 17,743 192 16,882 256 Home equity 4,727 4 3,613 4 4,456 14 3,381 16 Consumer 731 2 814 — 746 5 953 6 Total impaired loans without a specific allowance 37,452 96 33,716 115 37,432 617 34,932 371 With a specific allowance recorded: Commercial real estate: Land and construction — — — — — — — — Improved Property 5,137 — 3,012 — 5,032 — 3,012 — Commercial and industrial — — 2,678 — 318 — 3,700 — Total impaired loans with a specific allowance 5,137 — 5,690 — 5,350 — 6,712 — Total impaired loans $ 42,589 $ 96 $ 39,406 $ 115 $ 42,782 $ 617 $ 41,644 $ 371 The following tables present the recorded investment in non-accrual Non-accrual (1) (unaudited, in thousands) September 30, 2017 December 31, 2016 Commercial real estate: Land and construction $ 474 $ 766 Improved property 14,263 9,535 Total commercial real estate 14,737 10,301 Commercial and industrial 2,950 4,299 Residential real estate 12,641 12,994 Home equity 4,426 3,538 Consumer 704 652 Total $ 35,458 $ 31,784 (1) At September 30, 2017, there were three borrowers with loans greater than $1.0 million totaling $8.6 million, as compared to two borrowers with loans greater than $1.0 million totaling $4.3 million at December 31, 2016. Total non-accrual non-accrual TDRs September 30, 2017 December 31, 2016 (unaudited, in thousands) Accruing Non-Accrual Total Accruing Non-Accrual Total Commercial real estate: Land and construction $ — $ 4 $ 4 $ — $ 8 $ 8 Improved property 1,563 446 2,009 1,618 688 2,306 Total commercial real estate 1,563 450 2,013 1,618 696 2,314 Commercial and industrial 133 164 297 152 151 303 Residential real estate 4,453 1,810 6,263 5,311 2,212 7,523 Home equity 419 419 838 473 297 770 Consumer 70 139 209 92 190 282 Total $ 6,638 $ 2,982 $ 9,620 $ 7,646 $ 3,546 $ 11,192 As of September 30, 2017 and December 31, 2016, there were no TDRs greater than $1.0 million. The concessions granted in the majority of loans reported as accruing and non-accrual The following tables present details related to loans identified as TDRs during the three and nine months ended September 30, 2017 and 2016, respectively: New TDRs (1) For the Three Months Ended September 30, 2017 September 30, 2016 Pre- Post- Pre- Post- Modification Modification Modification Modification Outstanding Outstanding Outstanding Outstanding Number of Recorded Recorded Number of Recorded Recorded (unaudited, dollars in thousands) Modifications Investment Investment Modifications Investment Investment Commercial real estate: Land and construction — $ — $ — — $ — $ — Improved Property 1 190 185 — — — Total commercial real estate 1 190 185 — — — Commercial and industrial — — — 2 125 122 Residential real estate — — — 2 124 122 Home equity 2 94 88 — — — Consumer 1 7 6 4 26 23 Total 4 $ 291 $ 279 8 $ 275 $ 267 (1) Excludes loans that were either paid off or charged-off pre-modification New TDRs (1) For the Nine Months Ended September 30, 2017 September 30, 2016 (unaudited, dollars in thousands) Number of Pre- Post- Number of Pre- Post- Commercial real estate: Land and construction — $ — $ — — $ — $ — Improved Property 1 190 185 — — — Total commercial real estate 1 190 185 — — — Commercial and industrial 1 64 59 2 125 122 Residential real estate 2 22 17 3 150 143 Home equity 3 141 132 1 44 41 Consumer 4 42 33 10 70 54 Total 11 $ 459 $ 426 16 $ 389 $ 360 (1) Excludes loans that were either paid off or charged-off pre-modification The following table summarizes TDRs which defaulted (defined as past due 90 days) during the nine months ended September 30, 2017 and 2016, respectively, that were restructured within the last twelve months prior to September 30, 2017 and 2016, respectively: Defaulted TDRs (1) For the Nine Months Ended September 30, 2017 September 30, 2016 (unaudited, dollars in thousands) Number of Recorded Number of Recorded Commercial real estate: Land and construction — $ — — $ — Improved property — — — — Total commercial real estate — — — — Commercial and industrial — — 1 40 Residential real estate 1 7 — — Home equity — — — — Consumer 1 7 — — Total 2 $ 14 1 $ 40 (1) Excludes loans that were either charged-off TDRs that default are placed on non-accrual The following table summarizes other real estate owned and repossessed assets included in other assets: (unaudited, in thousands) September 30, December 31, Other real estate owned $ 5,636 $ 8,206 Repossessed assets 146 140 Total other real estate owned and repossessed assets $ 5,782 $ 8,346 At September 30, 2017, other real estate owned includes $1.1 million from the YCB acquisition and $3.1 million at December 31, 2016. Residential real estate included in other real estate owned at September 30, 2017 and December 31, 2016 was $1.7 million and $1.6 million, respectively. At September 30, 2017 and December 31, 2016, formal foreclosure proceedings were in process on residential real estate loans totaling $3.3 million and $4.1 million, respectively. |
Pension Plan
Pension Plan | 9 Months Ended |
Sep. 30, 2017 | |
Retirement Benefits [Abstract] | |
Pension Plan | NOTE 6. PENSION PLAN The following table presents the net periodic pension cost for WesBanco’s Defined Benefit Pension Plan (the “Plan”) and the related components: For the Three Months Ended For the Nine Months Ended (unaudited, in thousands) 2017 2016 2017 2016 Service cost – benefits earned during year $ 650 $ 703 $ 1,929 $ 2,095 Interest cost on projected benefit obligation 1,107 1,280 3,287 3,813 Expected return on plan assets (1,928 ) (1,940 ) (5,721 ) (5,778 ) Amortization of prior service cost 7 8 19 20 Amortization of net loss 812 759 2,409 2,261 Net periodic pension cost $ 648 $ 810 $ 1,923 $ 2,411 The Plan covers all employees of WesBanco and its subsidiaries who were hired on or before August 1, 2007 who satisfy minimum age and length of service requirements, and is not available to employees hired after such date. A minimum required contribution of $2.7 million is due for 2017, which could be all or partially offset by the Plan’s $46.9 million available credit balance. A voluntary contribution of $2.5 million was made in June 2017. On September 9, 2016, WesBanco assumed YCB’s obligation for a predecessor bank’s participation in the Pentegra Defined Benefit Plan for Financial Institutions (“Pentegra Plan”). The participating employer plan had been frozen to new participants since 2002. WesBanco spun out the assets from the Pentegra Plan in the second quarter of 2017, and contributed approximately $2.8 million to satisfy the final costs to do so. The spin off had no impact on earnings as the liability was included in YCB’s balance sheet as of the acquisition date. The $8.4 million in distributed assets from the Pentegra Plan were transferred to a new plan providing the same benefits to the participants. |
Fair Value Measurement
Fair Value Measurement | 9 Months Ended |
Sep. 30, 2017 | |
Fair Value Disclosures [Abstract] | |
Fair Value Measurement | NOTE 7. FAIR VALUE MEASUREMENT Fair value estimates are based on quoted market prices, if available, quoted market prices of similar assets or liabilities, or the present value of expected future cash flows and other valuation techniques. These valuations are significantly affected by discount rates, cash flow assumptions, and risk assumptions used. Therefore, fair value estimates may not be substantiated by comparison to independent markets and are not intended to reflect the proceeds that may be realizable in an immediate settlement of the instruments. Fair value is determined at one point in time and is not representative of future value. These amounts do not reflect the total value of a going concern organization. Management does not have the intention to dispose of a significant portion of its assets and liabilities and therefore, the unrealized gains or losses should not be interpreted as a forecast of future earnings and cash flows. The following is a discussion of assets and liabilities measured at fair value on a recurring basis and valuation techniques applied: Investment securities: over-the-counter Derivatives: WesBanco determines the fair value for derivatives using widely accepted valuation techniques including discounted cash flow analysis on the expected cash flows of each derivative. This analysis reflects contractual terms of the derivative, including the period to maturity, and uses observable market based inputs, including interest rate curves and implied volatilities. WesBanco incorporates credit valuation adjustments to appropriately reflect both its own non-performance non-performance We may be required from time to time to measure certain assets and liabilities at fair value on a nonrecurring basis in accordance with GAAP. These adjustments to fair value usually result from the application of lower of cost or market accounting or write-downs of individual assets and liabilities. Impaired loans: Other real estate owned and repossessed assets: Loans held for sale: Certain investments that are measured at fair value using the net asset value per share (or its equivalent) practical expedient have not been categorized in the fair value hierarchy. The fair value amounts presented in the table below are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the statement of financial position. The following tables set forth WesBanco’s financial assets and liabilities that were accounted for at fair value on a recurring and nonrecurring basis by level within the fair value hierarchy as of September 30, 2017 and December 31, 2016: September 30, 2017 Fair Value Measurements Using: September 30, 2017 Quoted Prices in Significant Significant Investments (unaudited, in thousands) (level 1) (level 2) (level 3) Value Recurring fair value measurements Trading securities $ 7,929 $ 6,457 $ — $ — $ 1,472 Securities - available-for-sale U.S. Government sponsored entities and agencies 72,319 — 72,319 — — Residential mortgage-backed securities and collateralized mortgage obligations of government sponsored entities and agencies 963,474 — 963,474 — — Commercial mortgage-backed securities and collateralized mortgage obligations of government sponsored entities and agencies 121,834 — 121,834 — — Obligations of state and political subdivisions 106,847 — 106,847 — — Corporate debt securities 35,503 — 35,503 — — Equity securities 5,555 5,555 — — — Total securities - available-for-sale $ 1,305,532 $ 5,555 $ 1,299,977 $ — $ — Other assets - interest rate derivatives agreements $ 5,506 $ — $ 5,506 $ — $ — Total assets recurring fair value measurements $ 1,318,967 $ 12,012 $ 1,305,483 $ — $ 1,472 Other liabilities - interest rate derivatives agreements $ 5,443 $ — $ 5,443 $ — $ — Total liabilities recurring fair value measurements $ 5,443 $ — $ 5,443 $ — $ — Nonrecurring fair value measurements Impaired loans $ 4,538 $ — $ — $ 4,538 $ — Other real estate owned and repossessed assets 5,782 — — 5,782 — Loans held for sale 26,888 — 26,888 — — Total nonrecurring fair value measurements $ 37,208 $ — $ 26,888 $ 10,320 $ — December 31, 2016 Fair Value Measurements Using: December 31, Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs Investments Measured at Net Asset (unaudited, in thousands) 2016 (level 1) (level 2) (level 3) Value Recurring fair value measurements Trading securities $ 7,071 $ 5,633 $ — $ — $ 1,438 Securities - available-for-sale U.S. Government sponsored entities and agencies 54,043 — 54,043 — — Residential mortgage-backed securities and collateralized mortgage obligations of government sponsored entities and agencies 938,289 — 938,289 — — Commercial mortgage-backed securities and collateralized mortgage obligations of government sponsored entities and agencies 96,810 — 96,810 — — Obligations of state and political subdivisions 111,663 — 111,663 — — Corporate debt securities 35,301 — 35,301 — — Equity securities 5,070 2,938 2,132 — — Total securities - available-for-sale $ 1,241,176 $ 2,938 $ 1,238,238 $ — $ — Other assets - interest rate derivatives agreements $ 5,596 $ — $ 5,596 $ — $ — Total assets recurring fair value measurements $ 1,253,843 $ 8,571 $ 1,243,834 $ — $ 1,438 Other liabilities - interest rate derivatives agreements $ 5,199 $ — $ 5,199 $ — $ — Total liabilities recurring fair value measurements $ 5,199 $ — $ 5,199 $ — $ — Nonrecurring fair value measurements Impaired loans $ 3,405 $ — $ — $ 3,405 $ — Other real estate owned and repossessed assets 8,346 — — 8,346 — Loans held for sale 17,315 — 17,315 — — Total nonrecurring fair value measurements $ 29,066 $ — $ 17,315 $ 11,751 $ — WesBanco’s policy is to recognize transfers between levels as of the actual date of the event or change in circumstances that caused the transfer. There were no transfers between level 1, 2 or 3 for the three and nine months ended September 30, 2017 or for the year ended December 31, 2016. The following table presents additional quantitative information about assets measured at fair value on a nonrecurring basis and for which WesBanco has utilized level 3 inputs to determine fair value: Quantitative Information about Level 3 Fair Value Measurements Fair Value Valuation Unobservable Range (Weighted (unaudited, in thousands) Estimate Techniques Input Average) September 30, 2017 Impaired loans $ 4,538 Appraisal of collateral (1) Appraisal adjustments (2) 0% to (4.8%) /(1.9%) Liquidation expenses (2) (7.6%) to (8.0%) / (7.9%) Other real estate owned and repossessed assets 5,782 Appraisal of collateral (1), (3) December 31, 2016: Impaired loans $ 3,405 Appraisal of collateral (1) Appraisal adjustments (2) 0% to (70.0%) / (36.6%) Liquidation expenses (2) (1.5%) to (8.0%) / (4.6%) Other real estate owned and repossessed assets 8,346 Appraisal of collateral (1), (3) (1) Fair value is generally determined through independent appraisals of the underlying collateral, which generally include various level 3 inputs, which are not identifiable. (2) Appraisals may be adjusted by management for qualitative factors such as economic conditions and estimated liquidation expenses. The range and weighted average of appraisal adjustments and liquidation expenses are presented as a percent of the appraisal. (3) Includes estimated liquidation expenses and numerous dissimilar qualitative adjustments by management which are not identifiable. The estimated fair values of WesBanco’s financial instruments are summarized below: Fair Value Measurements at September 30, 2017 (unaudited, in thousands) Carrying Fair Value Quoted Prices in (level 1) Significant Other (level 2) Significant (level 3) Investments Financial Assets Cash and due from banks $ 110,871 $ 110,871 $ 110,871 $ — $ — $ — Trading securities 7,929 7,929 6,457 — — 1,472 Securities available-for-sale 1,305,532 1,305,532 5,555 1,299,977 — — Securities held-to-maturity 1,025,688 1,044,748 — 1,044,135 613 — Net loans 6,327,562 6,241,388 — — 6,241,388 — Loans held for sale 26,888 26,888 — 26,888 — — Other assets - interest rate derivatives 5,506 5,506 — 5,506 — — Accrued interest receivable 30,152 30,152 30,152 — — — Financial Liabilities Deposits 7,101,025 7,112,593 5,766,959 1,345,634 — — Federal Home Loan Bank borrowings 1,015,011 1,014,117 — 1,014,117 — — Other borrowings 165,576 165,579 163,532 2,047 — — Subordinated debt and junior subordinated debt 164,278 138,421 — 138,421 — — Other liabilities - interest rate derivatives 5,443 5,443 — 5,443 — — Accrued interest payable 3,924 3,924 3,924 — — — Fair Value Measurements at December 31, 2016 (unaudited, in thousands) Carrying Fair Value Quoted Prices in (level 1) Significant Other (level 2) Significant (level 3) Investments Financial Assets Cash and due from banks $ 128,170 $ 128,170 $ 128,170 $ — $ — $ — Trading securities 7,071 7,071 5,633 — — 1,438 Securities available-for-sale 1,241,176 1,241,176 2,938 1,238,238 — — Securities held-to-maturity 1,067,967 1,076,790 — 1,076,189 601 — Net loans 6,205,762 6,073,558 — — 6,073,558 — Loans held for sale 17,315 17,315 — 17,315 — — Other assets - interest rate derivatives 5,596 5,596 — 5,596 — — Accrued interest receivable 28,299 28,299 28,299 — — — Financial Liabilities Deposits 7,040,879 7,052,501 5,545,057 1,507,444 — — Federal Home Loan Bank borrowings 968,946 974,430 — 974,430 — — Other borrowings 199,376 199,385 197,164 2,221 — — Subordinated debt and junior subordinated debt 163,598 134,859 — 134,859 — — Other liabilities - interest rate derivatives 5,199 5,199 — 5,199 — — Accrued interest payable 2,204 2,204 2,204 — — — The following methods and assumptions were used to measure the fair value of financial instruments recorded at cost on WesBanco’s consolidated balance sheets: Cash and due from banks: Securities held-to-maturity: held-to-maturity Net loans: Accrued interest receivable: . Deposits: Federal Home Loan Bank borrowings: Other borrowings: Subordinated debt and junior subordinated debt: Accrued interest payable: Off-balance Off-balance |
Comprehensive Income
Comprehensive Income | 9 Months Ended |
Sep. 30, 2017 | |
Equity [Abstract] | |
Comprehensive Income | NOTE 8. COMPREHENSIVE INCOME The activity in accumulated other comprehensive income for the nine months ended September 30, 2017 and 2016 is as follows: Accumulated Other Comprehensive Income/(Loss) (1) (unaudited, in thousands) Defined Unrealized on Securities Available-for-Sale Unrealized Gains Available-for-Sale to Held-to-Maturity Total Balance at December 31, 2016 $ (17,758 ) $ (9,890 ) $ 522 $ (27,126 ) Other comprehensive income before reclassifications — 4,740 — 4,740 Amounts reclassified from accumulated other comprehensive income 1,679 35 (165 ) 1,549 Period change 1,679 4,775 (165 ) 6,289 Balance at September 30, 2017 $ (16,079 ) $ (5,115 ) $ 357 $ (20,837 ) Balance at December 31, 2015 $ (17,539 ) $ (4,162 ) $ 747 $ (20,954 ) Other comprehensive income before reclassifications — 16,065 — 16,065 Amounts reclassified from accumulated other comprehensive income 1,407 (1,428 ) (152 ) (173 ) Period change 1,407 14,637 (152 ) 15,892 Balance at September 30, 2016 $ (16,132 ) $ 10,475 $ 595 $ (5,062 ) (1) All amounts are net of tax. Related income tax expense or benefit is calculated using a combined Federal and State income tax rate approximating 37%. The following table provides details about amounts reclassified from accumulated other comprehensive income for the three and nine months ended September 30, 2017 and 2016: Details about Accumulated Other Comprehensive For the Three Months Ended For the Nine Months Ended September 30, Affected Line Item in the Statement of Net Income (unaudited, in thousands) 2017 2016 2017 2016 Securities available-for-sale (1) Net securities gains reclassified into earnings $ — $ (579 ) $ 55 $ (2,251 ) Net securities gains (Non-interest Related income tax expense (benefit) — 211 (20 ) 823 Provision for income taxes Net effect on accumulated other comprehensive income for the period — (368 ) 35 (1,428 ) Securities held-to-maturity (1) Amortization of unrealized gain transferred from available-for-sale (66 ) (77 ) (256 ) (242 ) Interest and dividends on securities (Interest and dividend income) Related income tax expense 24 28 91 90 Provision for income taxes Net effect on accumulated other comprehensive income for the period (42 ) (49 ) (165 ) (152 ) Defined benefit pension plan (2) Amortization of net loss and prior service costs 816 766 2,429 2,280 Employee benefits (Non-interest Related income tax benefit (303 ) (280 ) (750 ) (873 ) Provision for income taxes Net effect on accumulated other comprehensive income for the period 513 486 1,679 1,407 Total reclassifications for the period $ 471 $ 69 $ 1,549 $ (173 ) (1) For additional detail related to unrealized gains on securities and related amounts reclassified from accumulated other comprehensive income, see Note 4, “Securities.” (2) Included in the computation of net periodic pension cost. See Note 6, “Pension Plan” for additional detail. |
Commitments and Contingent Liab
Commitments and Contingent Liabilities | 9 Months Ended |
Sep. 30, 2017 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingent Liabilities | NOTE 9. COMMITMENTS AND CONTINGENT LIABILITIES Commitments — off-balance non-performance Letters of credit are conditional commitments issued by banks to guarantee the performance of a customer to a third party. Those guarantees are primarily issued to support public and private borrowing arrangements, including normal business activities, bond financing and similar transactions. Letters of credit are considered guarantees. The liability associated with letters of credit was $0.2 million, as of both September 30, 2017 and December 31, 2016. Contingent obligations to purchase loans funded by other entities include affordable housing plan guarantees, credit card guarantees and mortgages sold into the secondary market with recourse. Affordable housing plan guarantees are performance guarantees for various building project loans. The guarantee amortizes as the loan balances decrease. Credit card guarantees are credit card balances not owned by WesBanco, whereby the Bank guarantees the performance of the cardholder. The following table presents total commitments to extend credit, guarantees and various letters of credit outstanding: September 30, December 31, (unaudited, in thousands) 2017 2016 Lines of credit $ 1,468,470 $ 1,418,329 Loans approved but not closed 243,723 185,253 Overdraft limits 126,936 126,517 Letters of credit 32,328 32,907 Contingent obligations to purchase loans funded by other entities 6,974 13,036 Contingent Liabilities — |
Business Segments
Business Segments | 9 Months Ended |
Sep. 30, 2017 | |
Segment Reporting [Abstract] | |
Business Segments | NOTE 10. BUSINESS SEGMENTS WesBanco operates two reportable segments: community banking and trust and investment services. WesBanco’s community banking segment offers services traditionally offered by full-service commercial banks, including commercial demand, individual demand and time deposit accounts, as well as commercial, mortgage and individual installment loans, and certain non-traditional Condensed financial information by business segment is presented below: Trust and Community Investment (unaudited, in thousands) Banking Services Consolidated For the Three Months ended September 30, 2017: Interest income $ 85,489 $ — $ 85,489 Interest expense 11,235 — 11,235 Net interest income 74,254 — 74,254 Provision for credit losses 2,516 — 2,516 Net interest income after provision for credit losses 71,738 — 71,738 Non-interest 15,541 5,358 20,899 Non-interest 52,355 3,399 55,754 Income before provision for income taxes 34,924 1,959 36,883 Provision for income taxes 9,744 783 10,527 Net income $ 25,180 $ 1,176 $ 26,356 For the Three Months ended September 30, 2016: Interest income $ 70,092 $ — $ 70,092 Interest expense 8,066 — 8,066 Net interest income 62,026 — 62,026 Provision for credit losses 2,214 — 2,214 Net interest income after provision for credit losses 59,812 — 59,812 Non-interest 15,604 5,413 21,017 Non-interest 54,569 3,032 57,601 Income before provision for income taxes 20,847 2,381 23,228 Provision for income taxes 4,841 952 5,793 Net income $ 16,006 $ 1,429 $ 17,435 For the Nine Months ended September 30, 2017: Interest income $ 247,573 $ — $ 247,573 Interest expense 30,461 — 30,461 Net interest income 217,112 — 217,112 Provision for credit losses 7,610 — 7,610 Net interest income after provision for credit losses 209,502 — 209,502 Non-interest 48,833 17,073 65,906 Non-interest 156,102 9,921 166,023 Income before provision for income taxes 102,233 7,152 109,385 Provision for income taxes 27,940 2,861 30,801 Net income $ 74,293 $ 4,291 $ 78,584 For the Nine Months ended September 30, 2016: Interest income $ 205,278 $ — $ 205,278 Interest expense 23,637 — 23,637 Net interest income 181,641 — 181,641 Provision for credit losses 6,350 — 6,350 Net interest income after provision for credit losses 175,291 — 175,291 Non-interest 43,841 16,160 60,001 Non-interest 141,029 9,274 150,303 Income before provision for income taxes 78,103 6,886 84,989 Provision for income taxes 19,818 2,754 22,572 Net income $ 58,285 $ 4,132 $ 62,417 Total non-fiduciary |
Summary of Significant Accoun18
Summary of Significant Accounting Policies (Policies) | 9 Months Ended |
Sep. 30, 2017 | |
Accounting Policies [Abstract] | |
Basis of presentation | Basis of presentation — 10-Q S-X. 10-K WesBanco’s interim financial statements have been prepared following the significant accounting policies disclosed in Note 1 of the Notes to the Consolidated Financial Statements of its 2016 Annual Report on Form 10-K |
Recent accounting pronouncements | Recent accounting pronouncements — No. 2017-12 2017-12 In May 2017, the FASB issued ASU No. 2017-09 2017-09 In March 2017, FASB issued ASU 2017-08 In March 2017, the FASB issued ASU 2017-07 non-interest In January 2017, the FASB issued ASU 2017-04 In January 2017, the FASB issued ASU No. 2017-01, 2017-01 2017-01 In October 2016, the FASB issued ASU 2016-16 In August 2016, the FASB issued ASU 2016-15 zero-coupon In June 2016, the FASB issued ASU 2016-13 held-to-maturity available-for-sale In March 2016, the FASB issued ASU 2016-09 In March 2016, the FASB issued ASU 2016-07 In February 2016, the FASB issued ASU 2016-02 In January 2016, the FASB issued ASU 2016-01 In May 2014, the FASB issued ASU 2014-09 one-year 2016-08, 2016-10, 2016-12, In January 2014, the FASB issued ASU No. 2014-01, |
Mergers and Acquisitions (Table
Mergers and Acquisitions (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
Allocation of Purchase Price of Assets Acquired and Liabilities Assumed | The following table presents the allocation of the purchase price of the assets acquired and the liabilities assumed at the date of acquisition. (unaudited, in thousands) September 9, 2016 Assets acquired Cash and due from banks $ 48,212 Securities 173,223 Loans 1,012,410 Goodwill and other intangible assets 104,990 Accrued income and other assets (1) 212,550 Total assets acquired $ 1,551,385 Liabilities assumed Deposits $ 1,193,010 Borrowings 123,001 Accrued expenses and other liabilities 14,876 Total liabilities assumed 1,330,887 Net assets acquired $ 220,498 (1) Includes receivables of $105.8 million from the sale of available-for-sale |
Your Community Bankshares, Inc [Member] | |
Summary of Purchase Price of Acquisition and Resulting Goodwill | The final purchase price of the YCB acquisition and resulting goodwill is summarized as follows: (unaudited, in thousands) September 9, 2016 Purchase Price: Fair value of WesBanco shares issued $ 177,149 Cash consideration for outstanding YCB shares 43,349 Total purchase price $ 220,498 Fair value of: Tangible assets acquired $ 1,398,183 Core deposit and other intangible assets acquired 11,957 Liabilities assumed (1,330,887 ) Net cash received in the acquisition 48,212 Fair value of net assets acquired $ 127,465 Goodwill recognized $ 93,033 |
Purchase Price Allocation Adjustment [Member] | |
Allocation of Purchase Price of Assets Acquired and Liabilities Assumed | The following table presents the changes in the allocation of the purchase price of the assets acquired and the liabilities assumed at the date of the acquisition previously reported as of December 31, 2016: (unaudited, in thousands) September 9, 2016 Goodwill recognized as of December 31, 2016 $ 92,889 Change in fair value of net assets acquired: Assets Loans (1,156 ) Accrued income and other assets 743 Liabilities Borrowings — Accrued expenses and other liabilities 269 Fair value of net assets acquired $ (144 ) Increase in goodwill recognized 144 Goodwill recognized as of September 30, 2017 $ 93,033 |
Earnings Per Common Share (Tabl
Earnings Per Common Share (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
Earnings Per Share [Abstract] | |
Summary of Earnings Per Common Share | Earnings per common share are calculated as follows: (unaudited, in thousands, except shares and per share amounts) For the Three Months Ended For the Nine Months Ended 2017 2016 2017 2016 Numerator for both basic and diluted earnings per common share: Net income $ 26,356 $ 17,435 $ 78,584 $ 62,417 Denominator: Total average basic common shares outstanding 44,031,813 39,715,516 43,992,017 38,828,618 Effect of dilutive stock options and other stock compensation 55,068 27,775 67,452 26,835 Total diluted average common shares outstanding 44,086,881 39,743,291 44,059,469 38,855,453 Earnings per common share – basic $ 0.60 $ 0.44 $ 1.79 $ 1.61 Earnings per common share – diluted $ 0.60 $ 0.44 $ 1.78 $ 1.61 |
Securities (Tables)
Securities (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
Investments, Debt and Equity Securities [Abstract] | |
Schedule of Fair Value and Amortized Cost of Available-for-sale and Held-to-maturity Securities | The following table presents the fair value and amortized cost of available-for-sale held-to-maturity September 30, 2017 December 31, 2016 (unaudited, in thousands) Amortized Gross Gross Estimated Value Amortized Gross Gross Estimated Value Available-for-sale U.S. Government sponsored entities and agencies $ 72,672 $ 88 $ (441 ) $ 72,319 $ 54,803 $ 3 $ (763 ) $ 54,043 Residential mortgage-backed securities and collateralized mortgage obligations of government sponsored entities and agencies 974,370 776 (11,672 ) 963,474 953,475 884 (16,070 ) 938,289 Commercial mortgage-backed securities and collateralized mortgage obligations of government sponsored entities and agencies 122,908 77 (1,151 ) 121,834 98,922 27 (2,139 ) 96,810 Obligations of states and political subdivisions 104,228 3,187 (568 ) 106,847 110,208 3,114 (1,659 ) 111,663 Corporate debt securities 35,249 325 (71 ) 35,503 35,292 117 (108 ) 35,301 Total debt securities $ 1,309,427 $ 4,453 $ (13,903 ) $ 1,299,977 $ 1,252,700 $ 4,145 $ (20,739 ) $ 1,236,106 Equity securities 4,238 1,320 (3 ) 5,555 4,062 1,032 (24 ) 5,070 Total available-for-sale $ 1,313,665 $ 5,773 $ (13,906 ) $ 1,305,532 $ 1,256,762 $ 5,177 $ (20,763 ) $ 1,241,176 Held-to-maturity U.S. Government sponsored entities and agencies $ 12,128 $ — $ (254 ) $ 11,874 $ 13,394 $ — $ (414 ) $ 12,980 Residential mortgage-backed securities and collateralized mortgage obligations of government sponsored entities and agencies 178,429 763 (1,467 ) 177,725 215,141 1,279 (2,563 ) 213,857 Obligations of states and political subdivisions 801,760 20,153 (1,200 ) 820,713 805,019 15,652 (5,529 ) 815,142 Corporate debt securities 33,371 1,065 — 34,436 34,413 418 (20 ) 34,811 Total held-to-maturity $ 1,025,688 $ 21,981 $ (2,921 ) $ 1,044,748 $ 1,067,967 $ 17,349 $ (8,526 ) $ 1,076,790 Total $ 2,339,353 $ 27,754 $ (16,827 ) $ 2,350,280 $ 2,324,729 $ 22,526 $ (29,289 ) $ 2,317,966 |
Schedule of Fair Value of Available-for-sale and Held-to-maturity Securities by Contractual Maturity | The following table presents the fair value of available-for-sale held-to-maturity September 30, 2017 One Year One to Five to After Mortgage-backed (unaudited, in thousands) or less Five Years Ten Years Ten Years and Equity Total Available-for-sale U.S. Government sponsored entities and agencies $ — $ 11,967 $ 16,855 $ 6,908 $ 36,589 $ 72,319 Residential mortgage-backed securities and collateralized mortgage obligations of government sponsored entities and agencies (1) — — — — 963,474 963,474 Commercial mortgage-backed securities and collateralized mortgage obligations of government sponsored entities and agencies (1) — — — — 121,834 121,834 Obligations of states and political subdivisions 7,723 17,886 36,514 44,724 — 106,847 Corporate debt securities — 30,483 5,020 — — 35,503 Equity securities (2) — — — — 5,555 5,555 Total available-for-sale $ 7,723 $ 60,336 $ 58,389 $ 51,632 $ 1,127,452 $ 1,305,532 Held-to-maturity (3) U.S. Government sponsored entities and agencies $ — $ — $ — $ — $ 11,874 $ 11,874 Residential mortgage-backed securities and collateralized mortgage obligations of government sponsored entities and agencies (1) — — — — 177,725 177,725 Obligations of states and political subdivisions 4,703 88,402 412,322 315,286 — 820,713 Corporate debt securities — 2,804 31,632 — — 34,436 Total held-to-maturity $ 4,703 $ 91,206 $ 443,954 $ 315,286 $ 189,599 $ 1,044,748 Total $ 12,426 $ 151,542 $ 502,343 $ 366,918 $ 1,317,051 $ 2,350,280 (1) Mortgage-backed and collateralized mortgage securities, which have prepayment provisions, are not assigned to maturity categories due to fluctuations in their prepayment speeds. (2) Equity securities, which have no stated maturity, are not assigned a maturity category. (3) The held-to-maturity |
Schedule of Gross Realized Gains and Losses on Sales and Calls of Available-for-Sale and Held-to-Maturity Securities | The following table presents the gross realized gains and losses on sales and calls of available-for-sale held-to-maturity non-interest For the Three For the Nine September 30, September 30, (unaudited, in thousands) 2017 2016 2017 2016 Gross realized gains $ 29 $ 602 $ 603 $ 2,517 Gross realized losses (23 ) (4 ) (92 ) (224 ) Net realized gains $ 6 $ 598 $ 511 $ 2,293 |
Schedule of Unrealized Losses on Investment Securities | The following tables provide information on unrealized losses on investment securities that have been in an unrealized loss position for less than twelve months and twelve months or more as of September 30, 2017 and December 31, 2016: September 30, 2017 Less than 12 months 12 months or more Total Fair Unrealized # of Fair Unrealized # of Fair Unrealized # of (unaudited, dollars in thousands) Value Losses Securities Value Losses Securities Value Losses Securities U.S. Government sponsored entities and agencies $ 29,875 $ (208 ) 6 $ 36,284 $ (487 ) 5 $ 66,159 $ (695 ) 11 Residential mortgage-backed securities and collateralized mortgage obligations of government sponsored entities and agencies 729,219 (6,426 ) 180 254,554 (6,713 ) 69 983,773 (13,139 ) 249 Commercial mortgage-backed securities and collateralized mortgage obligations of government sponsored entities and agencies 93,924 (1,135 ) 13 660 (16 ) 2 94,584 (1,151 ) 15 Obligations of states and political subdivisions 96,323 (526 ) 153 73,210 (1,242 ) 156 169,533 (1,768 ) 309 Corporate debt securities 4,015 (22 ) 1 6,960 (49 ) 2 10,975 (71 ) 3 Equity securities 1,359 (3 ) 1 — — — 1,359 (3 ) 1 Total temporarily impaired securities $ 954,715 $ (8,320 ) 354 $ 371,668 $ (8,507 ) 234 $ 1,326,383 $ (16,827 ) 588 December 31, 2016 Less than 12 months 12 months or more Total Fair Unrealized # of Fair Unrealized # of Fair Unrealized # of (unaudited, dollars in thousands) Value Losses Securities Value Losses Securities Value Losses Securities U.S. Government sponsored entities and agencies $ 58,108 $ (1,177 ) 11 $ — $ — — $ 58,108 $ (1,177 ) 11 Residential mortgage-backed securities and collateralized mortgage obligations of government sponsored entities and agencies 969,174 (16,436 ) 232 58,839 (2,197 ) 14 1,028,013 (18,633 ) 246 Commercial mortgage-backed securities and collateralized mortgage obligations of government sponsored entities and agencies 88,169 (2,122 ) 14 679 (17 ) 2 88,848 (2,139 ) 16 Obligations of states and political subdivisions 364,583 (7,121 ) 604 2,047 (67 ) 3 366,630 (7,188 ) 607 Corporate debt securities 10,011 (78 ) 3 5,973 (50 ) 2 15,984 (128 ) 5 Equity securities 2,938 (24 ) 2 — — — 2,938 (24 ) 2 Total temporarily impaired securities $ 1,492,983 $ (26,958 ) 866 $ 67,538 $ (2,331 ) 21 $ 1,560,521 $ (29,289 ) 887 |
Loans and the Allowance for C22
Loans and the Allowance for Credit Losses (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
Receivables [Abstract] | |
Schedule of Recorded Investment in Loans by Category | The recorded investment in loans is presented in the Consolidated Balance Sheets net of deferred loan fees and costs, and discounts on purchased loans. The deferred loan (costs) and fees were $(1.0) million and $0.3 million at September 30, 2017 and December 31, 2016, respectively. The unamortized discount on purchased loans from acquisitions was $23.0 million, including $11.1 million related to YCB, and $24.1 million at September 30, 2017 and December 31, 2016, respectively. (unaudited, in thousands) September 30, December 31, Commercial real estate: Land and construction $ 606,593 $ 496,539 Improved property 2,407,819 2,376,972 Total commercial real estate 3,014,412 2,873,511 Commercial and industrial 1,125,693 1,088,118 Residential real estate 1,356,580 1,383,390 Home equity 527,216 508,359 Consumer 349,148 396,058 Total portfolio loans 6,373,049 6,249,436 Loans held for sale 26,888 17,315 Total loans $ 6,399,937 $ 6,266,751 |
Summary of Changes in Allowance for Credit Losses | The following tables summarize changes in the allowance for credit losses applicable to each category of the loan portfolio: Allowance for Credit Losses By Category For the Nine Months Ended September 30, 2017 and 2016 Commercial Commercial Real Estate- Real Estate- Land and Improved Commercial Residential Home Deposit (unaudited, in thousands) Construction Property & Industrial Real Estate Equity Consumer Overdraft Total Balance at December 31, 2016: Allowance for loan losses $ 4,348 $ 18,628 $ 8,412 $ 4,106 $ 3,422 $ 3,998 $ 760 $ 43,674 Allowance for loan commitments 151 17 188 9 162 44 — 571 Total beginning allowance for credit losses 4,499 18,645 8,600 4,115 3,584 4,042 760 44,245 Provision for credit losses: Provision for loan losses 415 1,619 2,842 (203 ) 1,259 922 680 7,534 Provision for loan commitments (18 ) 4 45 — 49 (4 ) — 76 Total provision for credit losses 397 1,623 2,887 (203 ) 1,308 918 680 7,610 Charge-offs — (1,752 ) (2,255 ) (797 ) (372 ) (2,877 ) (947 ) (9,000 ) Recoveries 89 492 649 266 180 1,336 267 3,279 Net charge-offs 89 (1,260 ) (1,606 ) (531 ) (192 ) (1,541 ) (680 ) (5,721 ) Balance at September 30, 2017: Allowance for loan losses 4,852 18,987 9,648 3,372 4,489 3,379 760 45,487 Allowance for loan commitments 133 21 233 9 211 40 — 647 Total ending allowance for credit losses $ 4,985 $ 19,008 $ 9,881 $ 3,381 $ 4,700 $ 3,419 $ 760 $ 46,134 Balance at December 31, 2015: Allowance for loan losses $ 4,390 $ 14,748 $ 10,002 $ 4,582 $ 2,883 $ 4,763 $ 342 $ 41,710 Allowance for loan commitments 157 26 260 7 117 46 — 613 Total beginning allowance for credit losses 4,547 14,774 10,262 4,589 3,000 4,809 342 42,323 Provision for credit losses: Provision for loan losses 498 1,351 2,827 (67 ) 301 918 559 6,387 Provision for loan commitments (5 ) — (40 ) 2 8 (2 ) — (37 ) Total provision for credit losses 493 1,351 2,787 (65 ) 309 916 559 6,350 Charge-offs (73 ) (1,732 ) (2,883 ) (529 ) (345 ) (2,733 ) (585 ) (8,880 ) Recoveries 3 1,406 241 351 171 1,199 167 3,538 Net charge-offs (70 ) (326 ) (2,642 ) (178 ) (174 ) (1,534 ) (418 ) (5,342 ) Balance at September 30, 2016: Allowance for loan losses 4,818 15,773 10,187 4,337 3,010 4,147 483 42,755 Allowance for loan commitments 152 26 220 9 125 44 — 576 Total ending allowance for credit losses $ 4,970 $ 15,799 $ 10,407 $ 4,346 $ 3,135 $ 4,191 $ 483 $ 43,331 |
Allowance for Credit Losses and Recorded Investments in Loans | The following tables present the allowance for credit losses and recorded investments in loans by category: Allowance for Credit Losses and Recorded Investment in Loans Commercial Commercial Real Estate- Real Estate- Commercial Residential Deposit Land and Improved and Real Home Over- (unaudited, in thousands) Construction Property Industrial Estate Equity Consumer draft Total September 30, 2017 Allowance for credit losses: Allowance for loans individually evaluated for impairment $ — $ 579 $ — $ — $ — $ — $ — $ 579 Allowance for loans collectively evaluated for impairment 4,852 18,408 9,648 3,372 4,489 3,379 760 44,908 Allowance for loan commitments 133 21 233 9 211 40 — 647 Total allowance for credit losses $ 4,985 $ 19,008 $ 9,881 $ 3,381 $ 4,700 $ 3,419 $ 760 $ 46,134 Portfolio loans: Individually evaluated for impairment (1) $ — $ 5,117 $ — $ — $ — $ — $ — $ 5,117 Collectively evaluated for impairment 605,100 2,397,278 1,124,824 1,355,829 527,216 349,141 — 6,359,388 Acquired with deteriorated credit quality 1,493 5,424 869 751 — 7 — 8,544 Total portfolio loans $ 606,593 $ 2,407,819 $ 1,125,693 $ 1,356,580 $ 527,216 $ 349,148 $ — $ 6,373,049 December 31, 2016 Allowance for credit losses: Allowance for loans individually evaluated for impairment $ — $ 470 $ 407 $ — $ — $ — $ — $ 877 Allowance for loans collectively evaluated for impairment 4,348 18,158 8,005 4,106 3,422 3,998 760 42,797 Allowance for loan commitments 151 17 188 9 162 44 — 571 Total allowance for credit losses $ 4,499 $ 18,645 $ 8,600 $ 4,115 $ 3,584 $ 4,042 $ 760 $ 44,245 Portfolio loans: Individually evaluated for impairment (1) $ — $ 3,012 $ 1,270 $ — $ — $ — $ — $ 4,282 Collectively evaluated for impairment 494,928 2,364,067 1,086,445 1,382,447 508,359 396,049 — 6,232,295 Acquired with deteriorated credit quality 1,611 9,893 403 943 — 9 — 12,859 Total portfolio loans $ 496,539 $ 2,376,972 $ 1,088,118 $ 1,383,390 $ 508,359 $ 396,058 $ — $ 6,249,436 (1) Commercial loans greater than $1 million that are reported as non-accrual |
Summary of Commercial Loans by Risk Grade | The following tables summarize commercial loans by their assigned risk grade: Commerical Loans by Internally Assigned Risk Grade (unaudited, in thousands) Commercial Real Estate- Land and Construction Commercial Real Estate- Improved Property Commercial & Industrial Total Commercial Loans As of September 30, 2017 Pass $ 600,325 $ 2,350,919 $ 1,109,774 $ 4,061,018 Criticized - compromised 2,971 24,550 7,263 34,784 Classified - substandard 3,297 32,350 8,656 44,303 Classified - doubtful — — — — Total $ 606,593 $ 2,407,819 $ 1,125,693 $ 4,140,105 As of December 31, 2016 Pass $ 489,380 $ 2,324,755 $ 1,072,751 $ 3,886,886 Criticized - compromised 4,405 15,295 5,078 24,778 Classified - substandard 2,754 36,922 10,289 49,965 Classified - doubtful — — — — Total $ 496,539 $ 2,376,972 $ 1,088,118 $ 3,961,629 |
Summary of Changes in Accretable Yield for Loans Acquired with Deteriorated Credit Quality | The following table provides changes in accretable yield for loans acquired with deteriorated credit quality: For the Nine Months Ended (unaudited, in thousands) September 30, 2017 September 30, 2016 Balance at beginning of period $ 1,717 $ 1,206 Acquisitions — 669 Reduction due to change in projected cash flows — (324 ) Reclass from non-accretable difference 1,490 1,065 Transfers (216 ) (328 ) Accretion (1,384 ) (398 ) Balance at end of period $ 1,607 $ 1,890 |
Summary of Age Analysis of Loan Categories | The following tables summarize the age analysis of all categories of loans: Age Analysis of Loans (unaudited, in thousands) Current 30-59 Days Past Due 60-89 Days Past Due 90 Days or More Past Due Total Past Due Total Loans 90 Days or More Past Due and Accruing (1) As of September 30, 2017 Commercial real estate: Land and construction $ 606,122 $ — $ — $ 471 $ 471 $ 606,593 $ — Improved property 2,391,693 2,235 617 13,274 16,126 2,407,819 542 Total commercial real estate 2,997,815 2,235 617 13,745 16,597 3,014,412 542 Commercial and industrial 1,121,307 1,363 497 2,526 4,386 1,125,693 20 Residential real estate 1,341,924 4,831 759 9,066 14,656 1,356,580 2,418 Home equity 519,110 3,354 808 3,944 8,106 527,216 1,289 Consumer 344,241 3,134 901 872 4,907 349,148 587 Total portfolio loans 6,324,397 14,917 3,582 30,153 48,652 6,373,049 4,856 Loans held for sale 26,888 — — — — 26,888 — Total loans $ 6,351,285 $ 14,917 $ 3,582 $ 30,153 $ 48,652 $ 6,399,937 $ 4,856 Impaired loans included above are as follows: Non-accrual $ 9,360 $ 873 $ 226 $ 24,999 $ 26,098 $ 35,458 TDRs accruing interest (1) 6,232 108 — 298 406 6,638 Total impaired $ 15,592 $ 981 $ 226 $ 25,297 $ 26,504 $ 42,096 As of December 31, 2016 Commercial real estate: Land and construction $ 496,245 $ — $ — $ 294 $ 294 $ 496,539 $ — Improved property 2,367,790 1,154 363 7,665 9,182 2,376,972 318 Total commercial real estate 2,864,035 1,154 363 7,959 9,476 2,873,511 318 Commercial and industrial 1,082,390 2,508 1,011 2,209 5,728 1,088,118 229 Residential real estate 1,365,956 6,701 1,043 9,690 17,434 1,383,390 1,922 Home equity 502,087 2,358 862 3,052 6,272 508,359 626 Consumer 390,354 3,674 1,149 881 5,704 396,058 644 Total portfolio loans 6,204,822 16,395 4,428 23,791 44,614 6,249,436 3,739 Loans held for sale 17,315 — — — — 17,315 — Total loans $ 6,222,137 $ 16,395 $ 4,428 $ 23,791 $ 44,614 $ 6,266,751 $ 3,739 Impaired loans included above are as follows: Non-accrual $ 7,570 $ 3,479 $ 923 $ 19,812 $ 24,214 $ 31,784 TDRs accruing interest (1) 7,014 342 50 240 632 7,646 Total impaired $ 14,584 $ 3,821 $ 973 $ 20,052 $ 24,846 $ 39,430 (1) Loans 90 days or more past due and accruing interest exclude TDRs 90 days or more past due and accruing interest. |
Summary of Impaired Loans | The following tables summarize impaired loans: Impaired Loans September 30, 2017 December 31, 2016 Unpaid Principal Balance (1 Recorded Investment Related Allowance Unpaid Principal Balance (1) Recorded Investment Related Allowance (unaudited, in thousands) With no related specific allowance recorded: Commercial real estate: Land and construction $ 666 $ 474 $ — $ 1,212 $ 766 $ — Improved property 15,981 10,709 — 9,826 8,141 — Commercial and industrial 3,884 3,083 — 4,456 3,181 — Residential real estate 18,925 17,094 — 20,152 18,305 — Home equity 5,528 4,845 — 4,589 4,011 — Consumer 934 774 — 884 744 — Total impaired loans without a specific allowance 45,918 36,979 — 41,119 35,148 — With a specific allowance recorded: Commercial real estate: Land and construction — — — — — — Improved property 5,117 5,117 579 3,012 3,012 470 Commercial and industrial — — — 4,875 1,270 407 Total impaired loans with a specific allowance 5,117 5,117 579 7,887 4,282 877 Total impaired loans $ 51,035 $ 42,096 $ 579 $ 49,006 $ 39,430 $ 877 (1) The difference between the unpaid principal balance and the recorded investment generally reflects amounts that have been previously charged-off Impaired Loans For the Three Months Ended For the Nine Months Ended September 30, 2017 September 30, 2016 September 30, 2017 September 30, 2016 Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized (unaudited, in thousands) With no related specific allowance recorded: Commercial real estate: Land and construction $ 444 $ — $ 701 $ — $ 516 $ — $ 1,062 $ — Improved Property 10,923 31 8,403 28 10,271 400 9,408 86 Commercial and industrial 3,588 2 3,172 2 3,700 6 3,246 7 Residential real estate 17,039 57 17,013 81 17,743 192 16,882 256 Home equity 4,727 4 3,613 4 4,456 14 3,381 16 Consumer 731 2 814 — 746 5 953 6 Total impaired loans without a specific allowance 37,452 96 33,716 115 37,432 617 34,932 371 With a specific allowance recorded: Commercial real estate: Land and construction — — — — — — — — Improved Property 5,137 — 3,012 — 5,032 — 3,012 — Commercial and industrial — — 2,678 — 318 — 3,700 — Total impaired loans with a specific allowance 5,137 — 5,690 — 5,350 — 6,712 — Total impaired loans $ 42,589 $ 96 $ 39,406 $ 115 $ 42,782 $ 617 $ 41,644 $ 371 |
Recorded Investment in Non-Accrual Loans and TDRs | The following tables present the recorded investment in non-accrual Non-accrual (1) (unaudited, in thousands) September 30, 2017 December 31, 2016 Commercial real estate: Land and construction $ 474 $ 766 Improved property 14,263 9,535 Total commercial real estate 14,737 10,301 Commercial and industrial 2,950 4,299 Residential real estate 12,641 12,994 Home equity 4,426 3,538 Consumer 704 652 Total $ 35,458 $ 31,784 (1) At September 30, 2017, there were three borrowers with loans greater than $1.0 million totaling $8.6 million, as compared to two borrowers with loans greater than $1.0 million totaling $4.3 million at December 31, 2016. Total non-accrual non-accrual TDRs September 30, 2017 December 31, 2016 (unaudited, in thousands) Accruing Non-Accrual Total Accruing Non-Accrual Total Commercial real estate: Land and construction $ — $ 4 $ 4 $ — $ 8 $ 8 Improved property 1,563 446 2,009 1,618 688 2,306 Total commercial real estate 1,563 450 2,013 1,618 696 2,314 Commercial and industrial 133 164 297 152 151 303 Residential real estate 4,453 1,810 6,263 5,311 2,212 7,523 Home equity 419 419 838 473 297 770 Consumer 70 139 209 92 190 282 Total $ 6,638 $ 2,982 $ 9,620 $ 7,646 $ 3,546 $ 11,192 |
Loans Identified as TDRs | The following tables present details related to loans identified as TDRs during the three and nine months ended September 30, 2017 and 2016, respectively: New TDRs (1) For the Three Months Ended September 30, 2017 September 30, 2016 Pre- Post- Pre- Post- Modification Modification Modification Modification Outstanding Outstanding Outstanding Outstanding Number of Recorded Recorded Number of Recorded Recorded (unaudited, dollars in thousands) Modifications Investment Investment Modifications Investment Investment Commercial real estate: Land and construction — $ — $ — — $ — $ — Improved Property 1 190 185 — — — Total commercial real estate 1 190 185 — — — Commercial and industrial — — — 2 125 122 Residential real estate — — — 2 124 122 Home equity 2 94 88 — — — Consumer 1 7 6 4 26 23 Total 4 $ 291 $ 279 8 $ 275 $ 267 (1) Excludes loans that were either paid off or charged-off pre-modification New TDRs (1) For the Nine Months Ended September 30, 2017 September 30, 2016 (unaudited, dollars in thousands) Number of Pre- Post- Number of Pre- Post- Commercial real estate: Land and construction — $ — $ — — $ — $ — Improved Property 1 190 185 — — — Total commercial real estate 1 190 185 — — — Commercial and industrial 1 64 59 2 125 122 Residential real estate 2 22 17 3 150 143 Home equity 3 141 132 1 44 41 Consumer 4 42 33 10 70 54 Total 11 $ 459 $ 426 16 $ 389 $ 360 (1) Excludes loans that were either paid off or charged-off pre-modification |
TDRs Defaulted Later Restructured | The following table summarizes TDRs which defaulted (defined as past due 90 days) during the nine months ended September 30, 2017 and 2016, respectively, that were restructured within the last twelve months prior to September 30, 2017 and 2016, respectively: Defaulted TDRs (1) For the Nine Months Ended September 30, 2017 September 30, 2016 (unaudited, dollars in thousands) Number of Recorded Number of Recorded Commercial real estate: Land and construction — $ — — $ — Improved property — — — — Total commercial real estate — — — — Commercial and industrial — — 1 40 Residential real estate 1 7 — — Home equity — — — — Consumer 1 7 — — Total 2 $ 14 1 $ 40 (1) Excludes loans that were either charged-off |
Summary of Other Real Estate Owned and Repossessed Assets | The following table summarizes other real estate owned and repossessed assets included in other assets: (unaudited, in thousands) September 30, December 31, Other real estate owned $ 5,636 $ 8,206 Repossessed assets 146 140 Total other real estate owned and repossessed assets $ 5,782 $ 8,346 |
Pension Plan (Tables)
Pension Plan (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
Retirement Benefits [Abstract] | |
Components of Net Periodic Pension Cost | The following table presents the net periodic pension cost for WesBanco’s Defined Benefit Pension Plan (the “Plan”) and the related components: For the Three Months Ended For the Nine Months Ended (unaudited, in thousands) 2017 2016 2017 2016 Service cost – benefits earned during year $ 650 $ 703 $ 1,929 $ 2,095 Interest cost on projected benefit obligation 1,107 1,280 3,287 3,813 Expected return on plan assets (1,928 ) (1,940 ) (5,721 ) (5,778 ) Amortization of prior service cost 7 8 19 20 Amortization of net loss 812 759 2,409 2,261 Net periodic pension cost $ 648 $ 810 $ 1,923 $ 2,411 |
Fair Value Measurement (Tables)
Fair Value Measurement (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
Fair Value Disclosures [Abstract] | |
Schedule of Fair Value of Assets and Liabilities Measured on Recurring and Nonrecurring Basis | The following tables set forth WesBanco’s financial assets and liabilities that were accounted for at fair value on a recurring and nonrecurring basis by level within the fair value hierarchy as of September 30, 2017 and December 31, 2016: September 30, 2017 Fair Value Measurements Using: September 30, 2017 Quoted Prices in Significant Significant Investments (unaudited, in thousands) (level 1) (level 2) (level 3) Value Recurring fair value measurements Trading securities $ 7,929 $ 6,457 $ — $ — $ 1,472 Securities - available-for-sale U.S. Government sponsored entities and agencies 72,319 — 72,319 — — Residential mortgage-backed securities and collateralized mortgage obligations of government sponsored entities and agencies 963,474 — 963,474 — — Commercial mortgage-backed securities and collateralized mortgage obligations of government sponsored entities and agencies 121,834 — 121,834 — — Obligations of state and political subdivisions 106,847 — 106,847 — — Corporate debt securities 35,503 — 35,503 — — Equity securities 5,555 5,555 — — — Total securities - available-for-sale $ 1,305,532 $ 5,555 $ 1,299,977 $ — $ — Other assets - interest rate derivatives agreements $ 5,506 $ — $ 5,506 $ — $ — Total assets recurring fair value measurements $ 1,318,967 $ 12,012 $ 1,305,483 $ — $ 1,472 Other liabilities - interest rate derivatives agreements $ 5,443 $ — $ 5,443 $ — $ — Total liabilities recurring fair value measurements $ 5,443 $ — $ 5,443 $ — $ — Nonrecurring fair value measurements Impaired loans $ 4,538 $ — $ — $ 4,538 $ — Other real estate owned and repossessed assets 5,782 — — 5,782 — Loans held for sale 26,888 — 26,888 — — Total nonrecurring fair value measurements $ 37,208 $ — $ 26,888 $ 10,320 $ — December 31, 2016 Fair Value Measurements Using: December 31, Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs Investments Measured at Net Asset (unaudited, in thousands) 2016 (level 1) (level 2) (level 3) Value Recurring fair value measurements Trading securities $ 7,071 $ 5,633 $ — $ — $ 1,438 Securities - available-for-sale U.S. Government sponsored entities and agencies 54,043 — 54,043 — — Residential mortgage-backed securities and collateralized mortgage obligations of government sponsored entities and agencies 938,289 — 938,289 — — Commercial mortgage-backed securities and collateralized mortgage obligations of government sponsored entities and agencies 96,810 — 96,810 — — Obligations of state and political subdivisions 111,663 — 111,663 — — Corporate debt securities 35,301 — 35,301 — — Equity securities 5,070 2,938 2,132 — — Total securities - available-for-sale $ 1,241,176 $ 2,938 $ 1,238,238 $ — $ — Other assets - interest rate derivatives agreements $ 5,596 $ — $ 5,596 $ — $ — Total assets recurring fair value measurements $ 1,253,843 $ 8,571 $ 1,243,834 $ — $ 1,438 Other liabilities - interest rate derivatives agreements $ 5,199 $ — $ 5,199 $ — $ — Total liabilities recurring fair value measurements $ 5,199 $ — $ 5,199 $ — $ — Nonrecurring fair value measurements Impaired loans $ 3,405 $ — $ — $ 3,405 $ — Other real estate owned and repossessed assets 8,346 — — 8,346 — Loans held for sale 17,315 — 17,315 — — Total nonrecurring fair value measurements $ 29,066 $ — $ 17,315 $ 11,751 $ — |
Schedule of Assets Measured at Fair Value on Nonrecurring Basis | The following table presents additional quantitative information about assets measured at fair value on a nonrecurring basis and for which WesBanco has utilized level 3 inputs to determine fair value: Quantitative Information about Level 3 Fair Value Measurements Fair Value Valuation Unobservable Range (Weighted (unaudited, in thousands) Estimate Techniques Input Average) September 30, 2017 Impaired loans $ 4,538 Appraisal of collateral (1) Appraisal adjustments (2) 0% to (4.8%) /(1.9%) Liquidation expenses (2) (7.6%) to (8.0%) / (7.9%) Other real estate owned and repossessed assets 5,782 Appraisal of collateral (1), (3) December 31, 2016: Impaired loans $ 3,405 Appraisal of collateral (1) Appraisal adjustments (2) 0% to (70.0%) / (36.6%) Liquidation expenses (2) (1.5%) to (8.0%) / (4.6%) Other real estate owned and repossessed assets 8,346 Appraisal of collateral (1), (3) (1) Fair value is generally determined through independent appraisals of the underlying collateral, which generally include various level 3 inputs, which are not identifiable. (2) Appraisals may be adjusted by management for qualitative factors such as economic conditions and estimated liquidation expenses. The range and weighted average of appraisal adjustments and liquidation expenses are presented as a percent of the appraisal. (3) Includes estimated liquidation expenses and numerous dissimilar qualitative adjustments by management which are not identifiable. |
Estimates Fair Values of Financial Instruments | The estimated fair values of WesBanco’s financial instruments are summarized below: Fair Value Measurements at September 30, 2017 (unaudited, in thousands) Carrying Fair Value Quoted Prices in (level 1) Significant Other (level 2) Significant (level 3) Investments Financial Assets Cash and due from banks $ 110,871 $ 110,871 $ 110,871 $ — $ — $ — Trading securities 7,929 7,929 6,457 — — 1,472 Securities available-for-sale 1,305,532 1,305,532 5,555 1,299,977 — — Securities held-to-maturity 1,025,688 1,044,748 — 1,044,135 613 — Net loans 6,327,562 6,241,388 — — 6,241,388 — Loans held for sale 26,888 26,888 — 26,888 — — Other assets - interest rate derivatives 5,506 5,506 — 5,506 — — Accrued interest receivable 30,152 30,152 30,152 — — — Financial Liabilities Deposits 7,101,025 7,112,593 5,766,959 1,345,634 — — Federal Home Loan Bank borrowings 1,015,011 1,014,117 — 1,014,117 — — Other borrowings 165,576 165,579 163,532 2,047 — — Subordinated debt and junior subordinated debt 164,278 138,421 — 138,421 — — Other liabilities - interest rate derivatives 5,443 5,443 — 5,443 — — Accrued interest payable 3,924 3,924 3,924 — — — Fair Value Measurements at December 31, 2016 (unaudited, in thousands) Carrying Fair Value Quoted Prices in (level 1) Significant Other (level 2) Significant (level 3) Investments Financial Assets Cash and due from banks $ 128,170 $ 128,170 $ 128,170 $ — $ — $ — Trading securities 7,071 7,071 5,633 — — 1,438 Securities available-for-sale 1,241,176 1,241,176 2,938 1,238,238 — — Securities held-to-maturity 1,067,967 1,076,790 — 1,076,189 601 — Net loans 6,205,762 6,073,558 — — 6,073,558 — Loans held for sale 17,315 17,315 — 17,315 — — Other assets - interest rate derivatives 5,596 5,596 — 5,596 — — Accrued interest receivable 28,299 28,299 28,299 — — — Financial Liabilities Deposits 7,040,879 7,052,501 5,545,057 1,507,444 — — Federal Home Loan Bank borrowings 968,946 974,430 — 974,430 — — Other borrowings 199,376 199,385 197,164 2,221 — — Subordinated debt and junior subordinated debt 163,598 134,859 — 134,859 — — Other liabilities - interest rate derivatives 5,199 5,199 — 5,199 — — Accrued interest payable 2,204 2,204 2,204 — — — |
Comprehensive Income (Tables)
Comprehensive Income (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
Equity [Abstract] | |
Components of Accumulated Other Comprehensive Income | The activity in accumulated other comprehensive income for the nine months ended September 30, 2017 and 2016 is as follows: Accumulated Other Comprehensive Income/(Loss) (1) (unaudited, in thousands) Defined Unrealized on Securities Available-for-Sale Unrealized Gains Available-for-Sale to Held-to-Maturity Total Balance at December 31, 2016 $ (17,758 ) $ (9,890 ) $ 522 $ (27,126 ) Other comprehensive income before reclassifications — 4,740 — 4,740 Amounts reclassified from accumulated other comprehensive income 1,679 35 (165 ) 1,549 Period change 1,679 4,775 (165 ) 6,289 Balance at September 30, 2017 $ (16,079 ) $ (5,115 ) $ 357 $ (20,837 ) Balance at December 31, 2015 $ (17,539 ) $ (4,162 ) $ 747 $ (20,954 ) Other comprehensive income before reclassifications — 16,065 — 16,065 Amounts reclassified from accumulated other comprehensive income 1,407 (1,428 ) (152 ) (173 ) Period change 1,407 14,637 (152 ) 15,892 Balance at September 30, 2016 $ (16,132 ) $ 10,475 $ 595 $ (5,062 ) (1) All amounts are net of tax. Related income tax expense or benefit is calculated using a combined Federal and State income tax rate approximating 37%. |
Schedule of Amounts Reclassified from Accumulated Other Comprehensive Income | The following table provides details about amounts reclassified from accumulated other comprehensive income for the three and nine months ended September 30, 2017 and 2016: Details about Accumulated Other Comprehensive For the Three Months Ended For the Nine Months Ended September 30, Affected Line Item in the Statement of Net Income (unaudited, in thousands) 2017 2016 2017 2016 Securities available-for-sale (1) Net securities gains reclassified into earnings $ — $ (579 ) $ 55 $ (2,251 ) Net securities gains (Non-interest Related income tax expense (benefit) — 211 (20 ) 823 Provision for income taxes Net effect on accumulated other comprehensive income for the period — (368 ) 35 (1,428 ) Securities held-to-maturity (1) Amortization of unrealized gain transferred from available-for-sale (66 ) (77 ) (256 ) (242 ) Interest and dividends on securities (Interest and dividend income) Related income tax expense 24 28 91 90 Provision for income taxes Net effect on accumulated other comprehensive income for the period (42 ) (49 ) (165 ) (152 ) Defined benefit pension plan (2) Amortization of net loss and prior service costs 816 766 2,429 2,280 Employee benefits (Non-interest Related income tax benefit (303 ) (280 ) (750 ) (873 ) Provision for income taxes Net effect on accumulated other comprehensive income for the period 513 486 1,679 1,407 Total reclassifications for the period $ 471 $ 69 $ 1,549 $ (173 ) (1) For additional detail related to unrealized gains on securities and related amounts reclassified from accumulated other comprehensive income, see Note 4, “Securities.” (2) Included in the computation of net periodic pension cost. See Note 6, “Pension Plan” for additional detail. |
Commitments and Contingent Li26
Commitments and Contingent Liabilities (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments to Extend Credit, Guarantees and Various Letters of Credit Outstanding | The following table presents total commitments to extend credit, guarantees and various letters of credit outstanding: September 30, December 31, (unaudited, in thousands) 2017 2016 Lines of credit $ 1,468,470 $ 1,418,329 Loans approved but not closed 243,723 185,253 Overdraft limits 126,936 126,517 Letters of credit 32,328 32,907 Contingent obligations to purchase loans funded by other entities 6,974 13,036 |
Business Segments (Tables)
Business Segments (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
Segment Reporting [Abstract] | |
Financial Information by Business Segment | Condensed financial information by business segment is presented below: Trust and Community Investment (unaudited, in thousands) Banking Services Consolidated For the Three Months ended September 30, 2017: Interest income $ 85,489 $ — $ 85,489 Interest expense 11,235 — 11,235 Net interest income 74,254 — 74,254 Provision for credit losses 2,516 — 2,516 Net interest income after provision for credit losses 71,738 — 71,738 Non-interest 15,541 5,358 20,899 Non-interest 52,355 3,399 55,754 Income before provision for income taxes 34,924 1,959 36,883 Provision for income taxes 9,744 783 10,527 Net income $ 25,180 $ 1,176 $ 26,356 For the Three Months ended September 30, 2016: Interest income $ 70,092 $ — $ 70,092 Interest expense 8,066 — 8,066 Net interest income 62,026 — 62,026 Provision for credit losses 2,214 — 2,214 Net interest income after provision for credit losses 59,812 — 59,812 Non-interest 15,604 5,413 21,017 Non-interest 54,569 3,032 57,601 Income before provision for income taxes 20,847 2,381 23,228 Provision for income taxes 4,841 952 5,793 Net income $ 16,006 $ 1,429 $ 17,435 For the Nine Months ended September 30, 2017: Interest income $ 247,573 $ — $ 247,573 Interest expense 30,461 — 30,461 Net interest income 217,112 — 217,112 Provision for credit losses 7,610 — 7,610 Net interest income after provision for credit losses 209,502 — 209,502 Non-interest 48,833 17,073 65,906 Non-interest 156,102 9,921 166,023 Income before provision for income taxes 102,233 7,152 109,385 Provision for income taxes 27,940 2,861 30,801 Net income $ 74,293 $ 4,291 $ 78,584 For the Nine Months ended September 30, 2016: Interest income $ 205,278 $ — $ 205,278 Interest expense 23,637 — 23,637 Net interest income 181,641 — 181,641 Provision for credit losses 6,350 — 6,350 Net interest income after provision for credit losses 175,291 — 175,291 Non-interest 43,841 16,160 60,001 Non-interest 141,029 9,274 150,303 Income before provision for income taxes 78,103 6,886 84,989 Provision for income taxes 19,818 2,754 22,572 Net income $ 58,285 $ 4,132 $ 62,417 |
Summary of Significant Accoun28
Summary of Significant Accounting Policies - Additional Information (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
Accounting Policies [Abstract] | ||||
Service cost component of net periodic benefit cost | $ 650 | $ 703 | $ 1,929 | $ 2,095 |
Partnerships losses and impairment | $ 400 | $ 1,200 |
Mergers and Acquisitions - Addi
Mergers and Acquisitions - Additional Information (Detail) - USD ($) | Sep. 09, 2016 | Sep. 30, 2017 | Sep. 30, 2017 | Sep. 30, 2016 | Dec. 31, 2016 |
Your Community Bankshares, Inc [Member] | |||||
Business Acquisition [Line Items] | |||||
Total assets acquired, excluding goodwill | $ 1,500,000,000 | ||||
Loans | 1,012,410,000 | ||||
Securities | 173,223,000 | ||||
Value of acquisition | $ 220,498,000 | ||||
Common shares issued | 5,423,348 | ||||
Cash consideration for outstanding YCB shares | $ 43,349,000 | ||||
Goodwill acquired | 93,033,000 | ||||
Purchase price allocation in core deposit intangible | $ 11,957,000 | ||||
Closing stock price | $ 32.62 | ||||
Merger related expense | $ 500,000 | $ 13,300,000 | |||
Purchase Price Allocation Adjustment [Member] | |||||
Business Acquisition [Line Items] | |||||
Loans | $ (1,156,000) | ||||
Assets acquired, adjustments | $ 0 | ||||
Liabilities assumed, adjustments | $ 0 | ||||
Common Stock [Member] | |||||
Business Acquisition [Line Items] | |||||
Common shares issued | 5,423,348 | ||||
Common Stock [Member] | Your Community Bankshares, Inc [Member] | |||||
Business Acquisition [Line Items] | |||||
Common shares issued | 5,423,348 | ||||
Cash consideration for outstanding YCB shares | $ 43,300,000 |
Mergers and Acquisitions - Summ
Mergers and Acquisitions - Summary of Purchase Price of Acquisition and Resulting Goodwill (Detail) - Your Community Bankshares, Inc [Member] $ in Thousands | Sep. 09, 2016USD ($) |
Purchase Price: | |
Fair value of WesBanco shares issued | $ 177,149 |
Cash consideration for outstanding YCB shares | 43,349 |
Total purchase price | 220,498 |
Fair value of: | |
Tangible assets acquired | 1,398,183 |
Core deposit and other intangible assets acquired | 11,957 |
Liabilities assumed | (1,330,887) |
Net cash received in the acquisition | 48,212 |
Fair value of net assets acquired | 127,465 |
Goodwill recognized | $ 93,033 |
Mergers and Acquisitions - Allo
Mergers and Acquisitions - Allocation of Purchase Price of Assets Acquired and Liabilities Assumed (Detail) - USD ($) $ in Thousands | Sep. 09, 2016 | Sep. 30, 2017 | Dec. 31, 2016 |
Purchase Price Allocation Adjustment [Member] | |||
Business Acquisition [Line Items] | |||
Loans | $ (1,156) | ||
Accrued income and other assets | 743 | ||
Liabilities | |||
Accrued expenses and other liabilities | 269 | ||
Fair value of net assets acquired | (144) | ||
Increase in goodwill recognized | 144 | ||
Goodwill recognized | $ 93,033 | $ 92,889 | |
Your Community Bankshares, Inc [Member] | |||
Business Acquisition [Line Items] | |||
Cash and due from banks | 48,212 | ||
Securities | 173,223 | ||
Loans | 1,012,410 | ||
Goodwill and other intangible assets | 104,990 | ||
Accrued income and other assets | 212,550 | ||
Total assets acquired | 1,551,385 | ||
Liabilities | |||
Deposits | 1,193,010 | ||
Borrowings | 123,001 | ||
Accrued expenses and other liabilities | 14,876 | ||
Total liabilities assumed | 1,330,887 | ||
Net assets acquired | 220,498 | ||
Fair value of net assets acquired | $ 127,465 |
Mergers and Acquisitions - Al32
Mergers and Acquisitions - Allocation of Purchase Price of Assets Acquired and Liabilities Assumed (Parenthetical) (Detail) $ in Millions | Sep. 09, 2016USD ($) |
Your Community Bankshares, Inc [Member] | |
Business Acquisition [Line Items] | |
Receivables from sale of available-for-sale securities | $ 105.8 |
Earnings Per Common Share - Sum
Earnings Per Common Share - Summary of Earnings Per Common Share (Detail) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
Numerator for both basic and diluted earnings per common share: | ||||
Net income | $ 26,356 | $ 17,435 | $ 78,584 | $ 62,417 |
Denominator: | ||||
Total average basic common shares outstanding | 44,031,813 | 39,715,516 | 43,992,017 | 38,828,618 |
Effect of dilutive stock options and other stock compensation | 55,068 | 27,775 | 67,452 | 26,835 |
Total diluted average common shares outstanding | 44,086,881 | 39,743,291 | 44,059,469 | 38,855,453 |
Earnings per common share - basic | $ 0.60 | $ 0.44 | $ 1.79 | $ 1.61 |
Earnings per common share - diluted | $ 0.60 | $ 0.44 | $ 1.78 | $ 1.61 |
Earnings Per Common Share - Add
Earnings Per Common Share - Additional Information (Detail) - shares | Sep. 09, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 |
Stock Option [Member] | |||||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||||
Securities excluded from computation of net income per diluted shares | 117,550 | 96,600 | 185,250 | ||
Restricted Stock [Member] | |||||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||||
Securities excluded from computation of net income per diluted shares | 28,502 | 0 | 28,502 | 0 | |
Your Community Bankshares, Inc [Member] | |||||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||||
Shares issued for acquisition, shares | 5,423,348 | ||||
Your Community Bankshares, Inc [Member] | Treasury Stock [Member] | |||||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||||
Shares issued for acquisition, shares | 109,257 |
Securities - Schedule of Fair V
Securities - Schedule of Fair Value and Amortized Cost of Available-for-sale and Held-to-maturity Securities (Detail) - USD ($) $ in Thousands | 9 Months Ended | 12 Months Ended |
Sep. 30, 2017 | Dec. 31, 2016 | |
Schedule of Trading Securities and Other Trading Assets [Line Items] | ||
Available-for-sale, Amortized Cost | $ 1,313,665 | $ 1,256,762 |
Available-for-sale, Gross Unrealized Gains | 5,773 | 5,177 |
Available-for-sale, Gross Unrealized Losses | (13,906) | (20,763) |
Available-for-sale, Estimated Fair Value | 1,305,532 | 1,241,176 |
Held-to-maturity, Amortized Cost | 1,025,688 | 1,067,967 |
Held-to-maturity, Gross Unrealized Gains | 21,981 | 17,349 |
Held-to-maturity, Gross Unrealized Losses | (2,921) | (8,526) |
Held-to-maturity securities, Fair value | 1,044,748 | 1,076,790 |
Total, Amortized Cost | 2,339,353 | 2,324,729 |
Total, Gross Unrealized Gains | 27,754 | 22,526 |
Total, Gross Unrealized Losses | (16,827) | (29,289) |
Total, Estimated Fair Value | 2,350,280 | 2,317,966 |
U.S. Government Sponsored Entities and Agencies [Member] | ||
Schedule of Trading Securities and Other Trading Assets [Line Items] | ||
Available-for-sale, Amortized Cost | 72,672 | 54,803 |
Available-for-sale, Gross Unrealized Gains | 88 | 3 |
Available-for-sale, Gross Unrealized Losses | (441) | (763) |
Available-for-sale, Estimated Fair Value | 72,319 | 54,043 |
Held-to-maturity, Amortized Cost | 12,128 | 13,394 |
Held-to-maturity, Gross Unrealized Losses | (254) | (414) |
Held-to-maturity securities, Fair value | 11,874 | 12,980 |
Residential Mortgage-Backed Securities and Collateralized Mortgage Obligations of Government Sponsored Entities and Agencies [Member] | ||
Schedule of Trading Securities and Other Trading Assets [Line Items] | ||
Available-for-sale, Amortized Cost | 974,370 | 953,475 |
Available-for-sale, Gross Unrealized Gains | 776 | 884 |
Available-for-sale, Gross Unrealized Losses | (11,672) | (16,070) |
Available-for-sale, Estimated Fair Value | 963,474 | 938,289 |
Held-to-maturity, Amortized Cost | 178,429 | 215,141 |
Held-to-maturity, Gross Unrealized Gains | 763 | 1,279 |
Held-to-maturity, Gross Unrealized Losses | (1,467) | (2,563) |
Held-to-maturity securities, Fair value | 177,725 | 213,857 |
Commercial Mortgage-Backed Securities and Collateralized Mortgage Obligations of Government Sponsored Entities and Agencies [Member] | ||
Schedule of Trading Securities and Other Trading Assets [Line Items] | ||
Available-for-sale, Amortized Cost | 122,908 | 98,922 |
Available-for-sale, Gross Unrealized Gains | 77 | 27 |
Available-for-sale, Gross Unrealized Losses | (1,151) | (2,139) |
Available-for-sale, Estimated Fair Value | 121,834 | 96,810 |
Obligations of State and Political Subdivisions [Member] | ||
Schedule of Trading Securities and Other Trading Assets [Line Items] | ||
Available-for-sale, Amortized Cost | 104,228 | 110,208 |
Available-for-sale, Gross Unrealized Gains | 3,187 | 3,114 |
Available-for-sale, Gross Unrealized Losses | (568) | (1,659) |
Available-for-sale, Estimated Fair Value | 106,847 | 111,663 |
Held-to-maturity, Amortized Cost | 801,760 | 805,019 |
Held-to-maturity, Gross Unrealized Gains | 20,153 | 15,652 |
Held-to-maturity, Gross Unrealized Losses | (1,200) | (5,529) |
Held-to-maturity securities, Fair value | 820,713 | 815,142 |
Corporate Debt Securities [Member] | ||
Schedule of Trading Securities and Other Trading Assets [Line Items] | ||
Available-for-sale, Amortized Cost | 35,249 | 35,292 |
Available-for-sale, Gross Unrealized Gains | 325 | 117 |
Available-for-sale, Gross Unrealized Losses | (71) | (108) |
Available-for-sale, Estimated Fair Value | 35,503 | 35,301 |
Held-to-maturity, Amortized Cost | 33,371 | 34,413 |
Held-to-maturity, Gross Unrealized Gains | 1,065 | 418 |
Held-to-maturity, Gross Unrealized Losses | (20) | |
Held-to-maturity securities, Fair value | 34,436 | 34,811 |
Debt Securities [Member] | ||
Schedule of Trading Securities and Other Trading Assets [Line Items] | ||
Available-for-sale, Amortized Cost | 1,309,427 | 1,252,700 |
Available-for-sale, Gross Unrealized Gains | 4,453 | 4,145 |
Available-for-sale, Gross Unrealized Losses | (13,903) | (20,739) |
Available-for-sale, Estimated Fair Value | 1,299,977 | 1,236,106 |
Equity Securities [Member] | ||
Schedule of Trading Securities and Other Trading Assets [Line Items] | ||
Available-for-sale, Amortized Cost | 4,238 | 4,062 |
Available-for-sale, Gross Unrealized Gains | 1,320 | 1,032 |
Available-for-sale, Gross Unrealized Losses | (3) | (24) |
Available-for-sale, Estimated Fair Value | $ 5,555 | $ 5,070 |
Securities - Additional Informa
Securities - Additional Information (Detail) | 9 Months Ended | ||
Sep. 30, 2017USD ($)Holdings | Sep. 30, 2016USD ($) | Dec. 31, 2016USD ($)Holdings | |
Investments, Debt and Equity Securities [Abstract] | |||
Trading securities, at fair value | $ 7,929,000 | $ 7,071,000 | |
Maximum percentage of equity of one issuer | 10.00% | ||
Number of holdings greater than specified percentage of equity | Holdings | 0 | 0 | |
Securities with aggregate fair values | $ 1,400,000,000 | $ 1,200,000,000 | |
Proceeds from sale of available-for-sale securities | 7,760,000 | $ 277,225,000 | |
Net unrealized losses on available-for-sale securities included in AOCI | 5,100,000 | 9,900,000 | |
Impairment loss relating to securities | 0 | ||
Federal home loan bank stock, Total | $ 48,600,000 | $ 46,400,000 |
Securities - Schedule of Fair37
Securities - Schedule of Fair Value of Available-for-Sale and Held-to-Maturity Securities by Contractual Maturity (Detail) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 |
Schedule Of Available For Sale Securities And Held To Maturity [Line Items] | ||
Total available-for-sale securities, One Year or less | $ 7,723 | |
Total available-for-sale securities, One to Five Years | 60,336 | |
Total available-for-sale securities, Five to Ten Years | 58,389 | |
Total available-for-sale securities, After Ten Years | 51,632 | |
Total available-for-sale securities, Mortgage-backed and Equity | 1,127,452 | |
Available-for-sale, Estimated Fair Value | 1,305,532 | $ 1,241,176 |
Total held-to-maturity securities, One Year or less | 4,703 | |
Total held-to-maturity securities, One to Five Years | 91,206 | |
Total held-to-maturity securities, Five to Ten Years | 443,954 | |
Total held-to-maturity securities, After Ten Years | 315,286 | |
Total held-to-maturity securities, Mortgage-backed and Equity | 189,599 | |
Held-to-maturity securities, Fair value | 1,044,748 | 1,076,790 |
Total, One Year or less | 12,426 | |
Total, One to Five Years | 151,542 | |
Total, Five to Ten Years | 502,343 | |
Total, After Ten Years, Fair value | 366,918 | |
Total, Mortgage- backed and Equity | 1,317,051 | |
Total, Fair value | 2,350,280 | 2,317,966 |
U.S. Government Sponsored Entities and Agencies [Member] | ||
Schedule Of Available For Sale Securities And Held To Maturity [Line Items] | ||
Total available-for-sale securities, One to Five Years | 11,967 | |
Total available-for-sale securities, Five to Ten Years | 16,855 | |
Total available-for-sale securities, After Ten Years | 6,908 | |
Total available-for-sale securities, Mortgage-backed and Equity | 36,589 | |
Available-for-sale, Estimated Fair Value | 72,319 | 54,043 |
Total held-to-maturity securities, Mortgage-backed and Equity | 11,874 | |
Held-to-maturity securities, Fair value | 11,874 | 12,980 |
Residential Mortgage-Backed Securities and Collateralized Mortgage Obligations of Government Sponsored Entities and Agencies [Member] | ||
Schedule Of Available For Sale Securities And Held To Maturity [Line Items] | ||
Total available-for-sale securities, Mortgage-backed and Equity | 963,474 | |
Available-for-sale, Estimated Fair Value | 963,474 | 938,289 |
Total held-to-maturity securities, Mortgage-backed and Equity | 177,725 | |
Held-to-maturity securities, Fair value | 177,725 | 213,857 |
Commercial Mortgage-Backed Securities and Collateralized Mortgage Obligations of Government Sponsored Entities and Agencies [Member] | ||
Schedule Of Available For Sale Securities And Held To Maturity [Line Items] | ||
Total available-for-sale securities, Mortgage-backed and Equity | 121,834 | |
Available-for-sale, Estimated Fair Value | 121,834 | 96,810 |
Obligations of State and Political Subdivisions [Member] | ||
Schedule Of Available For Sale Securities And Held To Maturity [Line Items] | ||
Total available-for-sale securities, One Year or less | 7,723 | |
Total available-for-sale securities, One to Five Years | 17,886 | |
Total available-for-sale securities, Five to Ten Years | 36,514 | |
Total available-for-sale securities, After Ten Years | 44,724 | |
Available-for-sale, Estimated Fair Value | 106,847 | 111,663 |
Total held-to-maturity securities, One Year or less | 4,703 | |
Total held-to-maturity securities, One to Five Years | 88,402 | |
Total held-to-maturity securities, Five to Ten Years | 412,322 | |
Total held-to-maturity securities, After Ten Years | 315,286 | |
Held-to-maturity securities, Fair value | 820,713 | 815,142 |
Corporate Debt Securities [Member] | ||
Schedule Of Available For Sale Securities And Held To Maturity [Line Items] | ||
Total available-for-sale securities, One to Five Years | 30,483 | |
Total available-for-sale securities, Five to Ten Years | 5,020 | |
Available-for-sale, Estimated Fair Value | 35,503 | 35,301 |
Total held-to-maturity securities, One to Five Years | 2,804 | |
Total held-to-maturity securities, Five to Ten Years | 31,632 | |
Held-to-maturity securities, Fair value | 34,436 | 34,811 |
Equity Securities [Member] | ||
Schedule Of Available For Sale Securities And Held To Maturity [Line Items] | ||
Total available-for-sale securities, Mortgage-backed and Equity | 5,555 | |
Available-for-sale, Estimated Fair Value | $ 5,555 | $ 5,070 |
Securities - Schedule of Fair38
Securities - Schedule of Fair Value of Available-for-Sale and Held-to-Maturity Securities by Contractual Maturity (Parenthetical) (Detail) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 |
Investments, Debt and Equity Securities [Abstract] | ||
Held-to-maturity, Amortized Cost | $ 1,025,688 | $ 1,067,967 |
Securities - Schedule of Gross
Securities - Schedule of Gross Realized Gains and Losses on Sales and Calls of Available-for-Sale and Held-to-Maturity Securities (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
Securities Gross Realized Gain Loss [Abstract] | ||||
Gross realized gains | $ 29 | $ 602 | $ 603 | $ 2,517 |
Gross realized losses | (23) | (4) | (92) | (224) |
Net realized gains | $ 6 | $ 598 | $ 511 | $ 2,293 |
Securities - Schedule of Unreal
Securities - Schedule of Unrealized Losses on Investment Securities (Detail) $ in Thousands | Sep. 30, 2017USD ($)Security | Dec. 31, 2016USD ($)Security |
U.S. Government Sponsored Entities and Agencies [Member] | ||
Net Unrealized Gains And Losses On Investments [Line Items] | ||
Less than 12 months, Fair Value | $ 29,875 | $ 58,108 |
Less than 12 months, Unrealized Losses | $ (208) | $ (1,177) |
Less than 12 months, Number of Securities | Security | 6 | 11 |
12 months or more, Fair Value | $ 36,284 | |
12 months or more, Unrealized Losses | $ (487) | |
12 months or more, Number of Securities | Security | 5 | |
Fair Value, Total | $ 66,159 | $ 58,108 |
Unrealized Losses, Total | $ (695) | $ (1,177) |
Number of Securities Total | Security | 11 | 11 |
Residential Mortgage-Backed Securities and Collateralized Mortgage Obligations of Government Sponsored Entities and Agencies [Member] | ||
Net Unrealized Gains And Losses On Investments [Line Items] | ||
Less than 12 months, Fair Value | $ 729,219 | $ 969,174 |
Less than 12 months, Unrealized Losses | $ (6,426) | $ (16,436) |
Less than 12 months, Number of Securities | Security | 180 | 232 |
12 months or more, Fair Value | $ 254,554 | $ 58,839 |
12 months or more, Unrealized Losses | $ (6,713) | $ (2,197) |
12 months or more, Number of Securities | Security | 69 | 14 |
Fair Value, Total | $ 983,773 | $ 1,028,013 |
Unrealized Losses, Total | $ (13,139) | $ (18,633) |
Number of Securities Total | Security | 249 | 246 |
Commercial Mortgage-Backed Securities and Collateralized Mortgage Obligations of Government Sponsored Entities and Agencies [Member] | ||
Net Unrealized Gains And Losses On Investments [Line Items] | ||
Less than 12 months, Fair Value | $ 93,924 | $ 88,169 |
Less than 12 months, Unrealized Losses | $ (1,135) | $ (2,122) |
Less than 12 months, Number of Securities | Security | 13 | 14 |
12 months or more, Fair Value | $ 660 | $ 679 |
12 months or more, Unrealized Losses | $ (16) | $ (17) |
12 months or more, Number of Securities | Security | 2 | 2 |
Fair Value, Total | $ 94,584 | $ 88,848 |
Unrealized Losses, Total | $ (1,151) | $ (2,139) |
Number of Securities Total | Security | 15 | 16 |
Obligations of State and Political Subdivisions [Member] | ||
Net Unrealized Gains And Losses On Investments [Line Items] | ||
Less than 12 months, Fair Value | $ 96,323 | $ 364,583 |
Less than 12 months, Unrealized Losses | $ (526) | $ (7,121) |
Less than 12 months, Number of Securities | Security | 153 | 604 |
12 months or more, Fair Value | $ 73,210 | $ 2,047 |
12 months or more, Unrealized Losses | $ (1,242) | $ (67) |
12 months or more, Number of Securities | Security | 156 | 3 |
Fair Value, Total | $ 169,533 | $ 366,630 |
Unrealized Losses, Total | $ (1,768) | $ (7,188) |
Number of Securities Total | Security | 309 | 607 |
Corporate Debt Securities [Member] | ||
Net Unrealized Gains And Losses On Investments [Line Items] | ||
Less than 12 months, Fair Value | $ 4,015 | $ 10,011 |
Less than 12 months, Unrealized Losses | $ (22) | $ (78) |
Less than 12 months, Number of Securities | Security | 1 | 3 |
12 months or more, Fair Value | $ 6,960 | $ 5,973 |
12 months or more, Unrealized Losses | $ (49) | $ (50) |
12 months or more, Number of Securities | Security | 2 | 2 |
Fair Value, Total | $ 10,975 | $ 15,984 |
Unrealized Losses, Total | $ (71) | $ (128) |
Number of Securities Total | Security | 3 | 5 |
Equity Securities [Member] | ||
Net Unrealized Gains And Losses On Investments [Line Items] | ||
Less than 12 months, Fair Value | $ 1,359 | $ 2,938 |
Less than 12 months, Unrealized Losses | $ (3) | $ (24) |
Less than 12 months, Number of Securities | Security | 1 | 2 |
Fair Value, Total | $ 1,359 | $ 2,938 |
Unrealized Losses, Total | $ (3) | $ (24) |
Number of Securities Total | Security | 1 | 2 |
Total Temporarily Impaired Securities [Member] | ||
Net Unrealized Gains And Losses On Investments [Line Items] | ||
Less than 12 months, Fair Value | $ 954,715 | $ 1,492,983 |
Less than 12 months, Unrealized Losses | $ (8,320) | $ (26,958) |
Less than 12 months, Number of Securities | Security | 354 | 866 |
12 months or more, Fair Value | $ 371,668 | $ 67,538 |
12 months or more, Unrealized Losses | $ (8,507) | $ (2,331) |
12 months or more, Number of Securities | Security | 234 | 21 |
Fair Value, Total | $ 1,326,383 | $ 1,560,521 |
Unrealized Losses, Total | $ (16,827) | $ (29,289) |
Number of Securities Total | Security | 588 | 887 |
Loans and the Allowance for C41
Loans and the Allowance for Credit Losses - Additional Information (Detail) | 9 Months Ended | 12 Months Ended | |||
Sep. 30, 2017USD ($)Contract | Dec. 31, 2016USD ($)Contract | Sep. 30, 2016USD ($) | Sep. 09, 2016USD ($) | Dec. 31, 2015USD ($) | |
Financing Receivable, Recorded Investment [Line Items] | |||||
Deferred loan (costs) and fees | $ (1,000,000) | $ 300,000 | |||
Unamortized discount on purchased loans from acquisitions | 23,000,000 | 24,100,000 | |||
Aggregate amount of residential real estate, home equity and consumer loans classified as substandard | 22,400,000 | 20,600,000 | |||
Internally assigned loan grades to residential real estate, home equity and consumer loans | 4,600,000 | 3,400,000 | |||
Loans acquired with deteriorated credit quality | 8,544,000 | 12,859,000 | |||
Allowance for loan losses | $ 45,487,000 | $ 43,674,000 | $ 42,755,000 | $ 41,710,000 | |
Number of restructured contracts greater than $1 million | Contract | 0 | 0 | |||
Accruing and non accrual TDR permitted interest-only payment period | 3 months | ||||
Unfunded commitments to debtors for impaired loans | $ 100,000 | $ 0 | |||
Other real estate owned | 5,636,000 | 8,206,000 | |||
Your Community Bankshares, Inc [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Unamortized discount on purchased loans from acquisitions | 11,100,000 | ||||
Loans acquired with deteriorated credit quality | 4,500,000 | 5,700,000 | |||
Fair value of acquired loans | $ 1,012,410,000 | ||||
Allowance for loan losses | 0 | 0 | |||
Loans acquired accretable | 500,000 | ||||
Your Community Bankshares, Inc [Member] | Cost Recovery Method [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Fair value of acquired loans | 800,000 | 1,400,000 | |||
ESB Financial Corporation [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans acquired with deteriorated credit quality | 4,000,000 | 7,200,000 | |||
Allowance for loan losses | 2,000,000 | 1,800,000 | |||
Loans acquired accretable | 1,100,000 | ||||
ESB Financial Corporation [Member] | Cost Recovery Method [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Fair value of acquired loans | 3,500,000 | 0 | |||
Residential Real Estate [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans acquired with deteriorated credit quality | 751,000 | 943,000 | |||
Allowance for loan losses | 3,372,000 | 4,106,000 | $ 4,337,000 | $ 4,582,000 | |
Other real estate owned | 1,700,000 | 1,600,000 | |||
Foreclosure proceedings in process on residential real estate loans | 3,300,000 | 4,100,000 | |||
Residential Real Estate [Member] | Your Community Bankshares, Inc [Member] | Real Estate [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Real estate owned from acquisition | $ 1,100,000 | $ 3,100,000 |
Loans and the Allowance for C42
Loans and the Allowance for Credit Losses - Schedule of Recorded Investment in Loans by Category (Detail) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 |
Financing Receivable, Recorded Investment [Line Items] | ||
Total portfolio loans | $ 6,373,049 | $ 6,249,436 |
Loans held for sale | 26,888 | 17,315 |
Total loans | 6,399,937 | 6,266,751 |
Commercial Real Estate - Land and Construction [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total portfolio loans | 606,593 | 496,539 |
Commercial Real Estate - Improved Property [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total portfolio loans | 2,407,819 | 2,376,972 |
Commercial and Industrial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total portfolio loans | 1,125,693 | 1,088,118 |
Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total portfolio loans | 3,014,412 | 2,873,511 |
Residential Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total portfolio loans | 1,356,580 | 1,383,390 |
Consumer [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total portfolio loans | 349,148 | 396,058 |
Home Equity [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total portfolio loans | $ 527,216 | $ 508,359 |
Loans and the Allowance for C43
Loans and the Allowance for Credit Losses - Summary of Changes in Allowance for Credit Losses (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Allowance for loan losses, beginning balance | $ 43,674 | $ 41,710 | ||
Allowance for loan commitments, beginning balance | 571 | 613 | ||
Total beginning allowance for credit losses | 44,245 | 42,323 | ||
Provision for loan losses | 7,534 | 6,387 | ||
Provision for loan commitments | 76 | (37) | ||
Total provision for credit losses | $ 2,516 | $ 2,214 | 7,610 | 6,350 |
Charge-offs | (9,000) | (8,880) | ||
Recoveries | 3,279 | 3,538 | ||
Net charge-offs | (5,721) | (5,342) | ||
Allowance for loan losses, ending balance | 45,487 | 42,755 | 45,487 | 42,755 |
Allowance for loan commitments, ending balance | 647 | 576 | 647 | 576 |
Total ending allowance for credit losses | 46,134 | 43,331 | 46,134 | 43,331 |
Commercial Real Estate - Land and Construction [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Allowance for loan losses, beginning balance | 4,348 | 4,390 | ||
Allowance for loan commitments, beginning balance | 151 | 157 | ||
Total beginning allowance for credit losses | 4,499 | 4,547 | ||
Provision for loan losses | 415 | 498 | ||
Provision for loan commitments | (18) | (5) | ||
Total provision for credit losses | 397 | 493 | ||
Charge-offs | (73) | |||
Recoveries | 89 | 3 | ||
Net charge-offs | 89 | (70) | ||
Allowance for loan losses, ending balance | 4,852 | 4,818 | 4,852 | 4,818 |
Allowance for loan commitments, ending balance | 133 | 152 | 133 | 152 |
Total ending allowance for credit losses | 4,985 | 4,970 | 4,985 | 4,970 |
Commercial Real Estate - Improved Property [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Allowance for loan losses, beginning balance | 18,628 | 14,748 | ||
Allowance for loan commitments, beginning balance | 17 | 26 | ||
Total beginning allowance for credit losses | 18,645 | 14,774 | ||
Provision for loan losses | 1,619 | 1,351 | ||
Provision for loan commitments | 4 | |||
Total provision for credit losses | 1,623 | 1,351 | ||
Charge-offs | (1,752) | (1,732) | ||
Recoveries | 492 | 1,406 | ||
Net charge-offs | (1,260) | (326) | ||
Allowance for loan losses, ending balance | 18,987 | 15,773 | 18,987 | 15,773 |
Allowance for loan commitments, ending balance | 21 | 26 | 21 | 26 |
Total ending allowance for credit losses | 19,008 | 15,799 | 19,008 | 15,799 |
Commercial and Industrial [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Allowance for loan losses, beginning balance | 8,412 | 10,002 | ||
Allowance for loan commitments, beginning balance | 188 | 260 | ||
Total beginning allowance for credit losses | 8,600 | 10,262 | ||
Provision for loan losses | 2,842 | 2,827 | ||
Provision for loan commitments | 45 | (40) | ||
Total provision for credit losses | 2,887 | 2,787 | ||
Charge-offs | (2,255) | (2,883) | ||
Recoveries | 649 | 241 | ||
Net charge-offs | (1,606) | (2,642) | ||
Allowance for loan losses, ending balance | 9,648 | 10,187 | 9,648 | 10,187 |
Allowance for loan commitments, ending balance | 233 | 220 | 233 | 220 |
Total ending allowance for credit losses | 9,881 | 10,407 | 9,881 | 10,407 |
Deposit Overdraft [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Allowance for loan losses, beginning balance | 760 | 342 | ||
Total beginning allowance for credit losses | 760 | 342 | ||
Provision for loan losses | 680 | 559 | ||
Total provision for credit losses | 680 | 559 | ||
Charge-offs | (947) | (585) | ||
Recoveries | 267 | 167 | ||
Net charge-offs | (680) | (418) | ||
Allowance for loan losses, ending balance | 760 | 483 | 760 | 483 |
Total ending allowance for credit losses | 760 | 483 | 760 | 483 |
Residential Real Estate [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Allowance for loan losses, beginning balance | 4,106 | 4,582 | ||
Allowance for loan commitments, beginning balance | 9 | 7 | ||
Total beginning allowance for credit losses | 4,115 | 4,589 | ||
Provision for loan losses | (203) | (67) | ||
Provision for loan commitments | 2 | |||
Total provision for credit losses | (203) | (65) | ||
Charge-offs | (797) | (529) | ||
Recoveries | 266 | 351 | ||
Net charge-offs | (531) | (178) | ||
Allowance for loan losses, ending balance | 3,372 | 4,337 | 3,372 | 4,337 |
Allowance for loan commitments, ending balance | 9 | 9 | 9 | 9 |
Total ending allowance for credit losses | 3,381 | 4,346 | 3,381 | 4,346 |
Consumer [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Allowance for loan losses, beginning balance | 3,998 | 4,763 | ||
Allowance for loan commitments, beginning balance | 44 | 46 | ||
Total beginning allowance for credit losses | 4,042 | 4,809 | ||
Provision for loan losses | 922 | 918 | ||
Provision for loan commitments | (4) | (2) | ||
Total provision for credit losses | 918 | 916 | ||
Charge-offs | (2,877) | (2,733) | ||
Recoveries | 1,336 | 1,199 | ||
Net charge-offs | (1,541) | (1,534) | ||
Allowance for loan losses, ending balance | 3,379 | 4,147 | 3,379 | 4,147 |
Allowance for loan commitments, ending balance | 40 | 44 | 40 | 44 |
Total ending allowance for credit losses | 3,419 | 4,191 | 3,419 | 4,191 |
Home Equity [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Allowance for loan losses, beginning balance | 3,422 | 2,883 | ||
Allowance for loan commitments, beginning balance | 162 | 117 | ||
Total beginning allowance for credit losses | 3,584 | 3,000 | ||
Provision for loan losses | 1,259 | 301 | ||
Provision for loan commitments | 49 | 8 | ||
Total provision for credit losses | 1,308 | 309 | ||
Charge-offs | (372) | (345) | ||
Recoveries | 180 | 171 | ||
Net charge-offs | (192) | (174) | ||
Allowance for loan losses, ending balance | 4,489 | 3,010 | 4,489 | 3,010 |
Allowance for loan commitments, ending balance | 211 | 125 | 211 | 125 |
Total ending allowance for credit losses | $ 4,700 | $ 3,135 | $ 4,700 | $ 3,135 |
Loans and the Allowance for C44
Loans and the Allowance for Credit Losses - Allowance for Credit Losses and Recorded Investments in Loans (Detail) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | Dec. 31, 2015 |
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Allowance for loans individually evaluated for impairment | $ 579 | $ 877 | ||
Allowance for loans collectively evaluated for impairment | 44,908 | 42,797 | ||
Allowance for loan commitments | 647 | 571 | $ 576 | $ 613 |
Total allowance for credit losses | 46,134 | 44,245 | 43,331 | 42,323 |
Individually evaluated for impairment | 5,117 | 4,282 | ||
Collectively evaluated for impairment | 6,359,388 | 6,232,295 | ||
Acquired with deteriorated credit quality | 8,544 | 12,859 | ||
Total Loans | 6,373,049 | 6,249,436 | ||
Commercial Real Estate - Land and Construction [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Allowance for loans collectively evaluated for impairment | 4,852 | 4,348 | ||
Allowance for loan commitments | 133 | 151 | 152 | 157 |
Total allowance for credit losses | 4,985 | 4,499 | 4,970 | 4,547 |
Collectively evaluated for impairment | 605,100 | 494,928 | ||
Acquired with deteriorated credit quality | 1,493 | 1,611 | ||
Total Loans | 606,593 | 496,539 | ||
Commercial Real Estate - Improved Property [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Allowance for loans individually evaluated for impairment | 579 | 470 | ||
Allowance for loans collectively evaluated for impairment | 18,408 | 18,158 | ||
Allowance for loan commitments | 21 | 17 | 26 | 26 |
Total allowance for credit losses | 19,008 | 18,645 | 15,799 | 14,774 |
Individually evaluated for impairment | 5,117 | 3,012 | ||
Collectively evaluated for impairment | 2,397,278 | 2,364,067 | ||
Acquired with deteriorated credit quality | 5,424 | 9,893 | ||
Total Loans | 2,407,819 | 2,376,972 | ||
Commercial and Industrial [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Allowance for loans individually evaluated for impairment | 407 | |||
Allowance for loans collectively evaluated for impairment | 9,648 | 8,005 | ||
Allowance for loan commitments | 233 | 188 | 220 | 260 |
Total allowance for credit losses | 9,881 | 8,600 | 10,407 | 10,262 |
Individually evaluated for impairment | 1,270 | |||
Collectively evaluated for impairment | 1,124,824 | 1,086,445 | ||
Acquired with deteriorated credit quality | 869 | 403 | ||
Total Loans | 1,125,693 | 1,088,118 | ||
Deposit Overdraft [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Allowance for loans collectively evaluated for impairment | 760 | 760 | ||
Total allowance for credit losses | 760 | 760 | 483 | 342 |
Residential Real Estate [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Allowance for loans collectively evaluated for impairment | 3,372 | 4,106 | ||
Allowance for loan commitments | 9 | 9 | 9 | 7 |
Total allowance for credit losses | 3,381 | 4,115 | 4,346 | 4,589 |
Collectively evaluated for impairment | 1,355,829 | 1,382,447 | ||
Acquired with deteriorated credit quality | 751 | 943 | ||
Total Loans | 1,356,580 | 1,383,390 | ||
Consumer [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Allowance for loans collectively evaluated for impairment | 3,379 | 3,998 | ||
Allowance for loan commitments | 40 | 44 | 44 | 46 |
Total allowance for credit losses | 3,419 | 4,042 | 4,191 | 4,809 |
Collectively evaluated for impairment | 349,141 | 396,049 | ||
Acquired with deteriorated credit quality | 7 | 9 | ||
Total Loans | 349,148 | 396,058 | ||
Home Equity [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Allowance for loans collectively evaluated for impairment | 4,489 | 3,422 | ||
Allowance for loan commitments | 211 | 162 | 125 | 117 |
Total allowance for credit losses | 4,700 | 3,584 | $ 3,135 | $ 3,000 |
Collectively evaluated for impairment | 527,216 | 508,359 | ||
Total Loans | $ 527,216 | $ 508,359 |
Loans and the Allowance for C45
Loans and the Allowance for Credit Losses - Allowance for Credit Losses and Recorded Investments in Loans (Parenthetical) (Detail) $ in Millions | 9 Months Ended |
Sep. 30, 2017USD ($) | |
Receivables [Abstract] | |
Troubled debt restructuring threshold | $ 1 |
Loans and the Allowance for C46
Loans and the Allowance for Credit Losses - Summary of Commercial Loans by Risk Grade (Detail) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 |
Summary of commercial loans by risk grade | ||
Commercial loans | $ 6,327,562 | $ 6,205,762 |
Commercial Portfolio Segment [Member] | ||
Summary of commercial loans by risk grade | ||
Commercial loans | 4,140,105 | 3,961,629 |
Commercial Portfolio Segment [Member] | Pass [Member] | ||
Summary of commercial loans by risk grade | ||
Commercial loans | 4,061,018 | 3,886,886 |
Commercial Portfolio Segment [Member] | Criticized [Member] | ||
Summary of commercial loans by risk grade | ||
Commercial loans | 34,784 | 24,778 |
Commercial Portfolio Segment [Member] | Classified - Substandard [Member] | ||
Summary of commercial loans by risk grade | ||
Commercial loans | 44,303 | 49,965 |
Commercial Portfolio Segment [Member] | Commercial Real Estate - Land and Construction [Member] | ||
Summary of commercial loans by risk grade | ||
Commercial loans | 606,593 | 496,539 |
Commercial Portfolio Segment [Member] | Commercial Real Estate - Land and Construction [Member] | Pass [Member] | ||
Summary of commercial loans by risk grade | ||
Commercial loans | 600,325 | 489,380 |
Commercial Portfolio Segment [Member] | Commercial Real Estate - Land and Construction [Member] | Criticized [Member] | ||
Summary of commercial loans by risk grade | ||
Commercial loans | 2,971 | 4,405 |
Commercial Portfolio Segment [Member] | Commercial Real Estate - Land and Construction [Member] | Classified - Substandard [Member] | ||
Summary of commercial loans by risk grade | ||
Commercial loans | 3,297 | 2,754 |
Commercial Portfolio Segment [Member] | Commercial Real Estate - Improved Property [Member] | ||
Summary of commercial loans by risk grade | ||
Commercial loans | 2,407,819 | 2,376,972 |
Commercial Portfolio Segment [Member] | Commercial Real Estate - Improved Property [Member] | Pass [Member] | ||
Summary of commercial loans by risk grade | ||
Commercial loans | 2,350,919 | 2,324,755 |
Commercial Portfolio Segment [Member] | Commercial Real Estate - Improved Property [Member] | Criticized [Member] | ||
Summary of commercial loans by risk grade | ||
Commercial loans | 24,550 | 15,295 |
Commercial Portfolio Segment [Member] | Commercial Real Estate - Improved Property [Member] | Classified - Substandard [Member] | ||
Summary of commercial loans by risk grade | ||
Commercial loans | 32,350 | 36,922 |
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | ||
Summary of commercial loans by risk grade | ||
Commercial loans | 1,125,693 | 1,088,118 |
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | Pass [Member] | ||
Summary of commercial loans by risk grade | ||
Commercial loans | 1,109,774 | 1,072,751 |
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | Criticized [Member] | ||
Summary of commercial loans by risk grade | ||
Commercial loans | 7,263 | 5,078 |
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | Classified - Substandard [Member] | ||
Summary of commercial loans by risk grade | ||
Commercial loans | $ 8,656 | $ 10,289 |
Loans and the Allowance for C47
Loans and the Allowance for Credit Losses - Summary of Changes in Accretable Yield for Loans Acquired with Deteriorated Credit Quality (Detail) - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2017 | Sep. 30, 2016 | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Acquired During Period [Abstract] | ||
Balance at beginning of period | $ 1,717 | $ 1,206 |
Acquisitions | 669 | |
Reduction due to change in projected cash flows | (324) | |
Reclass from non-accretable difference | 1,490 | 1,065 |
Transfers | (216) | (328) |
Accretion | (1,384) | (398) |
Balance at end of period | $ 1,607 | $ 1,890 |
Loans and the Allowance for C48
Loans and the Allowance for Credit Losses - Summary of Age Analysis of Loan Categories (Detail) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 |
Financing Receivable, Recorded Investment [Line Items] | ||
Current | $ 6,324,397 | $ 6,204,822 |
Total Past Due | 48,652 | 44,614 |
Total Loans | 6,373,049 | 6,249,436 |
90 Days or More Past Due and Accruing | 4,856 | 3,739 |
Loans held for sale, current | 26,888 | 17,315 |
Loans held for sale | 26,888 | 17,315 |
Total loans, current | 6,351,285 | 6,222,137 |
Total loans | 6,399,937 | 6,266,751 |
Home Equity [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Current | 519,110 | 502,087 |
Total Past Due | 8,106 | 6,272 |
Total Loans | 527,216 | 508,359 |
90 Days or More Past Due and Accruing | 1,289 | 626 |
Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Current | 2,997,815 | 2,864,035 |
Total Past Due | 16,597 | 9,476 |
Total Loans | 3,014,412 | 2,873,511 |
90 Days or More Past Due and Accruing | 542 | 318 |
Residential Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Current | 1,341,924 | 1,365,956 |
Total Past Due | 14,656 | 17,434 |
Total Loans | 1,356,580 | 1,383,390 |
90 Days or More Past Due and Accruing | 2,418 | 1,922 |
Consumer [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Current | 344,241 | 390,354 |
Total Past Due | 4,907 | 5,704 |
Total Loans | 349,148 | 396,058 |
90 Days or More Past Due and Accruing | 587 | 644 |
Commercial Real Estate - Land and Construction [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Current | 606,122 | 496,245 |
Total Past Due | 471 | 294 |
Total Loans | 606,593 | 496,539 |
Commercial Real Estate - Improved Property [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Current | 2,391,693 | 2,367,790 |
Total Past Due | 16,126 | 9,182 |
Total Loans | 2,407,819 | 2,376,972 |
90 Days or More Past Due and Accruing | 542 | 318 |
Commercial and Industrial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Current | 1,121,307 | 1,082,390 |
Total Past Due | 4,386 | 5,728 |
Total Loans | 1,125,693 | 1,088,118 |
90 Days or More Past Due and Accruing | 20 | 229 |
Non-Accrual Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Current | 9,360 | 7,570 |
Total Past Due | 26,098 | 24,214 |
Total Loans | 35,458 | 31,784 |
TDRs Accruing Interest [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Current | 6,232 | 7,014 |
Total Past Due | 406 | 632 |
Total Loans | 6,638 | 7,646 |
Total Impaired [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Current | 15,592 | 14,584 |
Total Past Due | 26,504 | 24,846 |
Total Loans | 42,096 | 39,430 |
30-59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Past Due | 14,917 | 16,395 |
30-59 Days Past Due [Member] | Home Equity [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Past Due | 3,354 | 2,358 |
30-59 Days Past Due [Member] | Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Past Due | 2,235 | 1,154 |
30-59 Days Past Due [Member] | Residential Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Past Due | 4,831 | 6,701 |
30-59 Days Past Due [Member] | Consumer [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Past Due | 3,134 | 3,674 |
30-59 Days Past Due [Member] | Commercial Real Estate - Improved Property [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Past Due | 2,235 | 1,154 |
30-59 Days Past Due [Member] | Commercial and Industrial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Past Due | 1,363 | 2,508 |
30-59 Days Past Due [Member] | Non-Accrual Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Past Due | 873 | 3,479 |
30-59 Days Past Due [Member] | TDRs Accruing Interest [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Past Due | 108 | 342 |
30-59 Days Past Due [Member] | Total Impaired [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Past Due | 981 | 3,821 |
60-89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Past Due | 3,582 | 4,428 |
60-89 Days Past Due [Member] | Home Equity [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Past Due | 808 | 862 |
60-89 Days Past Due [Member] | Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Past Due | 617 | 363 |
60-89 Days Past Due [Member] | Residential Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Past Due | 759 | 1,043 |
60-89 Days Past Due [Member] | Consumer [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Past Due | 901 | 1,149 |
60-89 Days Past Due [Member] | Commercial Real Estate - Improved Property [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Past Due | 617 | 363 |
60-89 Days Past Due [Member] | Commercial and Industrial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Past Due | 497 | 1,011 |
60-89 Days Past Due [Member] | Non-Accrual Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Past Due | 226 | 923 |
60-89 Days Past Due [Member] | TDRs Accruing Interest [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Past Due | 50 | |
60-89 Days Past Due [Member] | Total Impaired [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Past Due | 226 | 973 |
90 Days or More Past Due [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Past Due | 30,153 | 23,791 |
90 Days or More Past Due [Member] | Home Equity [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Past Due | 3,944 | 3,052 |
90 Days or More Past Due [Member] | Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Past Due | 13,745 | 7,959 |
90 Days or More Past Due [Member] | Residential Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Past Due | 9,066 | 9,690 |
90 Days or More Past Due [Member] | Consumer [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Past Due | 872 | 881 |
90 Days or More Past Due [Member] | Commercial Real Estate - Land and Construction [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Past Due | 471 | 294 |
90 Days or More Past Due [Member] | Commercial Real Estate - Improved Property [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Past Due | 13,274 | 7,665 |
90 Days or More Past Due [Member] | Commercial and Industrial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Past Due | 2,526 | 2,209 |
90 Days or More Past Due [Member] | Non-Accrual Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Past Due | 24,999 | 19,812 |
90 Days or More Past Due [Member] | TDRs Accruing Interest [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Past Due | 298 | 240 |
90 Days or More Past Due [Member] | Total Impaired [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Past Due | $ 25,297 | $ 20,052 |
Loans and the Allowance for C49
Loans and the Allowance for Credit Losses - Summary of Age Analysis of Loan Categories (Parenthetical) (Detail) | 9 Months Ended |
Sep. 30, 2017 | |
Receivables [Abstract] | |
Past due loans excluded TDRs past due and accruing | 90 days |
Loans and the Allowance for C50
Loans and the Allowance for Credit Losses - Summary of Impaired Loans (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | Dec. 31, 2016 | |
Financing Receivable, Impaired [Line Items] | |||||
Unpaid Principal Balance, With no specific allowance recorded | $ 45,918 | $ 45,918 | $ 41,119 | ||
Unpaid Principal Balance, With a specific allowance recorded | 5,117 | 5,117 | 7,887 | ||
Total impaired loans, Unpaid principal balance | 51,035 | 51,035 | 49,006 | ||
Recorded Investment, With no specific allowance recorded | 36,979 | 36,979 | 35,148 | ||
Recorded Investment, With a specific allowance recorded | 5,117 | 5,117 | 4,282 | ||
Total impaired loans, Recorded investment | 42,096 | 42,096 | 39,430 | ||
Related Allowance, With a specific allowance recorded | 579 | 579 | 877 | ||
Average recorded investment, with no related specific allowance | 37,452 | $ 33,716 | 37,432 | $ 34,932 | |
Average recorded investment, With a specific allowance recorded | 5,137 | 5,690 | 5,350 | 6,712 | |
Total impaired loans, Average recorded investment | 42,589 | 39,406 | 42,782 | 41,644 | |
Interest income recognized, With no related specific allowance | 96 | 115 | 617 | 371 | |
Interest income recognized, With a specific allowance recorded | 0 | 0 | 0 | 0 | |
Total impaired loans, Interest income recognized | 96 | 115 | 617 | 371 | |
Residential Real Estate [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Unpaid Principal Balance, With no specific allowance recorded | 18,925 | 18,925 | 20,152 | ||
Recorded Investment, With no specific allowance recorded | 17,094 | 17,094 | 18,305 | ||
Average recorded investment, with no related specific allowance | 17,039 | 17,013 | 17,743 | 16,882 | |
Interest income recognized, With no related specific allowance | 57 | 81 | 192 | 256 | |
Consumer [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Unpaid Principal Balance, With no specific allowance recorded | 934 | 934 | 884 | ||
Recorded Investment, With no specific allowance recorded | 774 | 774 | 744 | ||
Average recorded investment, with no related specific allowance | 731 | 814 | 746 | 953 | |
Interest income recognized, With no related specific allowance | 2 | 5 | 6 | ||
Home Equity [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Unpaid Principal Balance, With no specific allowance recorded | 5,528 | 5,528 | 4,589 | ||
Recorded Investment, With no specific allowance recorded | 4,845 | 4,845 | 4,011 | ||
Average recorded investment, with no related specific allowance | 4,727 | 3,613 | 4,456 | 3,381 | |
Interest income recognized, With no related specific allowance | 4 | 4 | 14 | 16 | |
Commercial Real Estate - Land and Construction [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Unpaid Principal Balance, With no specific allowance recorded | 666 | 666 | 1,212 | ||
Recorded Investment, With no specific allowance recorded | 474 | 474 | 766 | ||
Average recorded investment, with no related specific allowance | 444 | 701 | 516 | 1,062 | |
Interest income recognized, With a specific allowance recorded | 0 | 0 | 0 | 0 | |
Commercial Real Estate - Improved Property [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Unpaid Principal Balance, With no specific allowance recorded | 15,981 | 15,981 | 9,826 | ||
Unpaid Principal Balance, With a specific allowance recorded | 5,117 | 5,117 | 3,012 | ||
Recorded Investment, With no specific allowance recorded | 10,709 | 10,709 | 8,141 | ||
Recorded Investment, With a specific allowance recorded | 5,117 | 5,117 | 3,012 | ||
Related Allowance, With a specific allowance recorded | 579 | 579 | 470 | ||
Average recorded investment, with no related specific allowance | 10,923 | 8,403 | 10,271 | 9,408 | |
Average recorded investment, With a specific allowance recorded | 5,137 | 3,012 | 5,032 | 3,012 | |
Interest income recognized, With no related specific allowance | 31 | 28 | 400 | 86 | |
Interest income recognized, With a specific allowance recorded | 0 | 0 | 0 | 0 | |
Commercial and Industrial [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Unpaid Principal Balance, With no specific allowance recorded | 3,884 | 3,884 | 4,456 | ||
Unpaid Principal Balance, With a specific allowance recorded | 4,875 | ||||
Recorded Investment, With no specific allowance recorded | 3,083 | 3,083 | 3,181 | ||
Recorded Investment, With a specific allowance recorded | 1,270 | ||||
Related Allowance, With a specific allowance recorded | $ 407 | ||||
Average recorded investment, with no related specific allowance | 3,588 | 3,172 | 3,700 | 3,246 | |
Average recorded investment, With a specific allowance recorded | 2,678 | 318 | 3,700 | ||
Interest income recognized, With no related specific allowance | 2 | 2 | 6 | 7 | |
Interest income recognized, With a specific allowance recorded | $ 0 | $ 0 | $ 0 | $ 0 |
Loans and the Allowance for C51
Loans and the Allowance for Credit Losses - Recorded Investment in Non-Accrual Loans and TDRs (Detail) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 |
Financing Receivable, Impaired [Line Items] | ||
Non-accrual loans | $ 35,458 | $ 31,784 |
TDRs | 9,620 | 11,192 |
Accruing TDRs [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
TDRs | 6,638 | 7,646 |
Non-Accrual TDRs [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
TDRs | 2,982 | 3,546 |
Commercial Real Estate - Land and Construction [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Non-accrual loans | 474 | 766 |
TDRs | 4 | 8 |
Commercial Real Estate - Land and Construction [Member] | Non-Accrual TDRs [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
TDRs | 4 | 8 |
Commercial Real Estate - Improved Property [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Non-accrual loans | 14,263 | 9,535 |
TDRs | 2,009 | 2,306 |
Commercial Real Estate - Improved Property [Member] | Accruing TDRs [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
TDRs | 1,563 | 1,618 |
Commercial Real Estate - Improved Property [Member] | Non-Accrual TDRs [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
TDRs | 446 | 688 |
Commercial and Industrial [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Non-accrual loans | 2,950 | 4,299 |
TDRs | 297 | 303 |
Commercial and Industrial [Member] | Accruing TDRs [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
TDRs | 133 | 152 |
Commercial and Industrial [Member] | Non-Accrual TDRs [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
TDRs | 164 | 151 |
Home Equity [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Non-accrual loans | 4,426 | 3,538 |
TDRs | 838 | 770 |
Home Equity [Member] | Accruing TDRs [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
TDRs | 419 | 473 |
Home Equity [Member] | Non-Accrual TDRs [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
TDRs | 419 | 297 |
Commercial Real Estate [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Non-accrual loans | 14,737 | 10,301 |
TDRs | 2,013 | 2,314 |
Commercial Real Estate [Member] | Accruing TDRs [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
TDRs | 1,563 | 1,618 |
Commercial Real Estate [Member] | Non-Accrual TDRs [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
TDRs | 450 | 696 |
Residential Real Estate [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Non-accrual loans | 12,641 | 12,994 |
TDRs | 6,263 | 7,523 |
Residential Real Estate [Member] | Accruing TDRs [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
TDRs | 4,453 | 5,311 |
Residential Real Estate [Member] | Non-Accrual TDRs [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
TDRs | 1,810 | 2,212 |
Consumer [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Non-accrual loans | 704 | 652 |
TDRs | 209 | 282 |
Consumer [Member] | Accruing TDRs [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
TDRs | 70 | 92 |
Consumer [Member] | Non-Accrual TDRs [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
TDRs | $ 139 | $ 190 |
Loans and the Allowance for C52
Loans and the Allowance for Credit Losses - Recorded Investment in Non-Accrual Loans and TDRs (Parenthetical) (Detail) | Sep. 30, 2017USD ($)Borrowers | Dec. 31, 2016USD ($)Borrowers |
Receivables [Abstract] | ||
Number of borrowers with loans greater than one million | Borrowers | 3 | 2 |
Borrowers with large amount of loans outstanding, minimum amount of loans per borrower | $ 1,000,000 | $ 1,000,000 |
Borrowers with large amount of loans outstanding, net | $ 8,600,000 | $ 4,300,000 |
Loans and the Allowance for C53
Loans and the Allowance for Credit Losses - Loans Identified as TDRs (Detail) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2017USD ($)Contract | Sep. 30, 2016USD ($)Contract | Sep. 30, 2017USD ($)Contract | Sep. 30, 2016USD ($)Contract | |
Financing Receivable, Modifications [Line Items] | ||||
Number of Modifications | Contract | 4 | 8 | 11 | 16 |
Pre-Modification Outstanding Recorded Investment | $ 291 | $ 275 | $ 459 | $ 389 |
Post-Modification Outstanding Recorded Investment | $ 279 | $ 267 | $ 426 | $ 360 |
Commercial Real Estate - Improved Property [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Modifications | Contract | 1 | 1 | ||
Pre-Modification Outstanding Recorded Investment | $ 190 | $ 190 | ||
Post-Modification Outstanding Recorded Investment | $ 185 | $ 185 | ||
Commercial and Industrial [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Modifications | Contract | 2 | 1 | 2 | |
Pre-Modification Outstanding Recorded Investment | $ 125 | $ 64 | $ 125 | |
Post-Modification Outstanding Recorded Investment | $ 122 | $ 59 | $ 122 | |
Commercial Real Estate [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Modifications | Contract | 1 | 1 | ||
Pre-Modification Outstanding Recorded Investment | $ 190 | $ 190 | ||
Post-Modification Outstanding Recorded Investment | $ 185 | $ 185 | ||
Residential Real Estate [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Modifications | Contract | 2 | 2 | 3 | |
Pre-Modification Outstanding Recorded Investment | $ 124 | $ 22 | $ 150 | |
Post-Modification Outstanding Recorded Investment | $ 122 | $ 17 | $ 143 | |
Consumer [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Modifications | Contract | 1 | 4 | 4 | 10 |
Pre-Modification Outstanding Recorded Investment | $ 7 | $ 26 | $ 42 | $ 70 |
Post-Modification Outstanding Recorded Investment | $ 6 | $ 23 | $ 33 | $ 54 |
Home Equity [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Modifications | Contract | 2 | 3 | 1 | |
Pre-Modification Outstanding Recorded Investment | $ 94 | $ 141 | $ 44 | |
Post-Modification Outstanding Recorded Investment | $ 88 | $ 132 | $ 41 |
Loans and the Allowance for C54
Loans and the Allowance for Credit Losses - TDRs Defaulted Later Restructured (Detail) $ in Thousands | 9 Months Ended | |
Sep. 30, 2017USD ($)Defaults | Sep. 30, 2016USD ($)Defaults | |
Financing Receivable, Modifications [Line Items] | ||
Number of Defaults | Defaults | 2 | 1 |
Recorded Investment | $ | $ 14 | $ 40 |
Residential Real Estate [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Defaults | Defaults | 1 | |
Recorded Investment | $ | $ 7 | |
Consumer [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Defaults | Defaults | 1 | |
Recorded Investment | $ | $ 7 | |
Commercial and Industrial [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Defaults | Defaults | 1 | |
Recorded Investment | $ | $ 40 |
Loans and the Allowance for C55
Loans and the Allowance for Credit Losses - Summary of Other Real Estate Owned and Repossessed Assets (Detail) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 |
Receivables [Abstract] | ||
Other real estate owned | $ 5,636 | $ 8,206 |
Repossessed assets | 146 | 140 |
Total other real estate owned and repossessed assets | $ 5,782 | $ 8,346 |
Pension Plan - Components of Ne
Pension Plan - Components of Net Periodic Pension Cost (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract] | ||||
Service cost - benefits earned during year | $ 650 | $ 703 | $ 1,929 | $ 2,095 |
Interest cost on projected benefit obligation | 1,107 | 1,280 | 3,287 | 3,813 |
Expected return on plan assets | (1,928) | (1,940) | (5,721) | (5,778) |
Amortization of prior service cost | 7 | 8 | 19 | 20 |
Amortization of net loss | 812 | 759 | 2,409 | 2,261 |
Net periodic pension cost | $ 648 | $ 810 | $ 1,923 | $ 2,411 |
Pension Plan - Additional Infor
Pension Plan - Additional Information (Detail) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | |
Jun. 30, 2017 | Jun. 30, 2017 | Sep. 30, 2017 | |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | |||
Minimum required pension plan contribution | $ 2.7 | ||
Available credit balance utilized for minimum required contribution | $ 46.9 | ||
Contribution of pension fund | $ 2.5 | ||
Pentegra Defined Benefit Plan [Member] | |||
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | |||
Asset spin off, final costs | $ 2.8 | ||
Distributed assets transferred | $ 8.4 | $ 8.4 |
Fair Value Measurement - Schedu
Fair Value Measurement - Schedule of Fair Value of Assets and Liabilities Measured on Recurring and Nonrecurring Basis (Detail) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Trading securities | $ 7,929 | $ 7,071 |
Total securities - available-for-sale | 1,305,532 | 1,241,176 |
Other assets - interest rate derivatives agreements | 5,506 | 5,596 |
Total assets recurring fair value measurements | 1,318,967 | 1,253,843 |
Other liabilities - interest rate derivatives agreements | 5,443 | 5,199 |
Total liabilities recurring fair value measurements | 5,443 | 5,199 |
Other real estate owned and repossessed assets | 5,782 | 8,346 |
Loans held for sale | 26,888 | 17,315 |
Recurring Fair Value Measurements [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Trading securities | 7,929 | 7,071 |
Total securities - available-for-sale | 1,305,532 | 1,241,176 |
Nonrecurring Fair Value Measurements [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Impaired loans | 4,538 | 3,405 |
Other real estate owned and repossessed assets | 5,782 | 8,346 |
Loans held for sale | 26,888 | 17,315 |
Total nonrecurring fair value measurements | 37,208 | 29,066 |
U.S. Government Sponsored Entities and Agencies [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total securities - available-for-sale | 72,319 | 54,043 |
U.S. Government Sponsored Entities and Agencies [Member] | Recurring Fair Value Measurements [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total securities - available-for-sale | 72,319 | 54,043 |
Residential Mortgage-Backed Securities and Collateralized Mortgage Obligations of Government Sponsored Entities and Agencies [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total securities - available-for-sale | 963,474 | 938,289 |
Residential Mortgage-Backed Securities and Collateralized Mortgage Obligations of Government Sponsored Entities and Agencies [Member] | Recurring Fair Value Measurements [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total securities - available-for-sale | 963,474 | 938,289 |
Commercial Mortgage-Backed Securities and Collateralized Mortgage Obligations of Government Sponsored Entities and Agencies [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total securities - available-for-sale | 121,834 | 96,810 |
Commercial Mortgage-Backed Securities and Collateralized Mortgage Obligations of Government Sponsored Entities and Agencies [Member] | Recurring Fair Value Measurements [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total securities - available-for-sale | 121,834 | 96,810 |
Obligations of State and Political Subdivisions [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total securities - available-for-sale | 106,847 | 111,663 |
Obligations of State and Political Subdivisions [Member] | Recurring Fair Value Measurements [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total securities - available-for-sale | 106,847 | 111,663 |
Corporate Debt Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total securities - available-for-sale | 35,503 | 35,301 |
Corporate Debt Securities [Member] | Recurring Fair Value Measurements [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total securities - available-for-sale | 35,503 | 35,301 |
Equity Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total securities - available-for-sale | 5,555 | 5,070 |
Equity Securities [Member] | Recurring Fair Value Measurements [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total securities - available-for-sale | 5,555 | 5,070 |
Investments Measured at Net Asset Value [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Trading securities | 1,472 | 1,438 |
Total assets recurring fair value measurements | 1,472 | 1,438 |
Investments Measured at Net Asset Value [Member] | Recurring Fair Value Measurements [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Trading securities | 1,472 | 1,438 |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Trading securities | 6,457 | 5,633 |
Total securities - available-for-sale | 5,555 | 2,938 |
Total assets recurring fair value measurements | 12,012 | 8,571 |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Recurring Fair Value Measurements [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Trading securities | 6,457 | 5,633 |
Total securities - available-for-sale | 5,555 | 2,938 |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Equity Securities [Member] | Recurring Fair Value Measurements [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total securities - available-for-sale | 5,555 | 2,938 |
Significant Other Observable Inputs (Level 2) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total securities - available-for-sale | 1,299,977 | 1,238,238 |
Other assets - interest rate derivatives agreements | 5,506 | 5,596 |
Total assets recurring fair value measurements | 1,305,483 | 1,243,834 |
Other liabilities - interest rate derivatives agreements | 5,443 | 5,199 |
Total liabilities recurring fair value measurements | 5,443 | 5,199 |
Loans held for sale | 26,888 | 17,315 |
Significant Other Observable Inputs (Level 2) [Member] | Recurring Fair Value Measurements [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total securities - available-for-sale | 1,299,977 | 1,238,238 |
Significant Other Observable Inputs (Level 2) [Member] | Nonrecurring Fair Value Measurements [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Loans held for sale | 26,888 | 17,315 |
Total nonrecurring fair value measurements | 26,888 | 17,315 |
Significant Other Observable Inputs (Level 2) [Member] | U.S. Government Sponsored Entities and Agencies [Member] | Recurring Fair Value Measurements [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total securities - available-for-sale | 72,319 | 54,043 |
Significant Other Observable Inputs (Level 2) [Member] | Residential Mortgage-Backed Securities and Collateralized Mortgage Obligations of Government Sponsored Entities and Agencies [Member] | Recurring Fair Value Measurements [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total securities - available-for-sale | 963,474 | 938,289 |
Significant Other Observable Inputs (Level 2) [Member] | Commercial Mortgage-Backed Securities and Collateralized Mortgage Obligations of Government Sponsored Entities and Agencies [Member] | Recurring Fair Value Measurements [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total securities - available-for-sale | 121,834 | 96,810 |
Significant Other Observable Inputs (Level 2) [Member] | Obligations of State and Political Subdivisions [Member] | Recurring Fair Value Measurements [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total securities - available-for-sale | 106,847 | 111,663 |
Significant Other Observable Inputs (Level 2) [Member] | Corporate Debt Securities [Member] | Recurring Fair Value Measurements [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total securities - available-for-sale | 35,503 | 35,301 |
Significant Other Observable Inputs (Level 2) [Member] | Equity Securities [Member] | Recurring Fair Value Measurements [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total securities - available-for-sale | 2,132 | |
Significant Unobservable Inputs (Level 3) [Member] | Nonrecurring Fair Value Measurements [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Impaired loans | 4,538 | 3,405 |
Other real estate owned and repossessed assets | 5,782 | 8,346 |
Total nonrecurring fair value measurements | $ 10,320 | $ 11,751 |
Fair Value Measurement - Additi
Fair Value Measurement - Additional Information (Detail) - USD ($) | 3 Months Ended | 9 Months Ended | 12 Months Ended |
Sep. 30, 2017 | Sep. 30, 2017 | Dec. 31, 2016 | |
Fair Value Disclosures [Abstract] | |||
Fair value transfer amount | $ 0 | $ 0 | $ 0 |
Fair Value Measurement - Sche60
Fair Value Measurement - Schedule of Assets Measured at Fair Value on Nonrecurring Basis (Detail) - USD ($) $ in Thousands | 9 Months Ended | 12 Months Ended |
Sep. 30, 2017 | Dec. 31, 2016 | |
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Other real estate owned and repossessed assets | $ 5,782 | $ 8,346 |
Nonrecurring Fair Value Measurements [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Impaired loans | 4,538 | 3,405 |
Other real estate owned and repossessed assets | 5,782 | 8,346 |
Significant Unobservable Inputs (Level 3) [Member] | Nonrecurring Fair Value Measurements [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Impaired loans | 4,538 | 3,405 |
Other real estate owned and repossessed assets | $ 5,782 | $ 8,346 |
Minimum [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Impaired loans, Appraisal adjustments | 0.00% | 0.00% |
Impaired loans, Liquidation expenses | (7.60%) | (1.50%) |
Maximum [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Impaired loans, Appraisal adjustments | (4.80%) | (70.00%) |
Impaired loans, Liquidation expenses | (8.00%) | (8.00%) |
Weighted Average [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Impaired loans, Appraisal adjustments | (1.90%) | (36.60%) |
Impaired loans, Liquidation expenses | (7.90%) | (4.60%) |
Fair Value Measurement - Estima
Fair Value Measurement - Estimates Fair Value of Financial Instruments (Detail) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | Dec. 31, 2015 |
Financial Assets | ||||
Cash and due from banks | $ 110,871 | $ 128,170 | $ 116,132 | $ 86,685 |
Trading securities | 7,929 | 7,071 | ||
Securities available-for-sale | 1,305,532 | 1,241,176 | ||
Securities held-to-maturity | 1,025,688 | 1,067,967 | ||
Net loans | 6,327,562 | 6,205,762 | ||
Loans held for sale | 26,888 | 17,315 | ||
Other assets - interest rate derivatives | 5,506 | 5,596 | ||
Accrued interest receivable | 30,152 | 28,299 | ||
Financial Liabilities | ||||
Deposits | 7,101,025 | 7,040,879 | ||
Federal Home Loan Bank borrowings | 1,015,011 | 968,946 | ||
Other borrowings | 165,576 | 199,376 | ||
Subordinated debt and junior subordinated debt | 164,278 | 163,598 | ||
Other liabilities - interest rate derivatives | 5,443 | 5,199 | ||
Accrued interest payable | 3,924 | 2,204 | ||
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ||||
Financial Assets | ||||
Cash and due from banks | 110,871 | 128,170 | ||
Trading securities | 6,457 | 5,633 | ||
Securities available-for-sale | 5,555 | 2,938 | ||
Accrued interest receivable | 30,152 | 28,299 | ||
Financial Liabilities | ||||
Deposits | 5,766,959 | 5,545,057 | ||
Other borrowings | 163,532 | 197,164 | ||
Accrued interest payable | 3,924 | 2,204 | ||
Significant Other Observable Inputs (Level 2) [Member] | ||||
Financial Assets | ||||
Securities available-for-sale | 1,299,977 | 1,238,238 | ||
Securities held-to-maturity | 1,044,135 | 1,076,189 | ||
Loans held for sale | 26,888 | 17,315 | ||
Other assets - interest rate derivatives | 5,506 | 5,596 | ||
Financial Liabilities | ||||
Deposits | 1,345,634 | 1,507,444 | ||
Federal Home Loan Bank borrowings | 1,014,117 | 974,430 | ||
Other borrowings | 2,047 | 2,221 | ||
Subordinated debt and junior subordinated debt | 138,421 | 134,859 | ||
Other liabilities - interest rate derivatives | 5,443 | 5,199 | ||
Significant Unobservable Inputs (Level 3) [Member] | ||||
Financial Assets | ||||
Securities held-to-maturity | 613 | 601 | ||
Net loans | 6,241,388 | 6,073,558 | ||
Carrying Amount [Member] | ||||
Financial Assets | ||||
Cash and due from banks | 110,871 | 128,170 | ||
Trading securities | 7,929 | 7,071 | ||
Securities available-for-sale | 1,305,532 | 1,241,176 | ||
Securities held-to-maturity | 1,025,688 | 1,067,967 | ||
Net loans | 6,327,562 | 6,205,762 | ||
Loans held for sale | 26,888 | 17,315 | ||
Other assets - interest rate derivatives | 5,506 | 5,596 | ||
Accrued interest receivable | 30,152 | 28,299 | ||
Financial Liabilities | ||||
Deposits | 7,101,025 | 7,040,879 | ||
Federal Home Loan Bank borrowings | 1,015,011 | 968,946 | ||
Other borrowings | 165,576 | 199,376 | ||
Subordinated debt and junior subordinated debt | 164,278 | 163,598 | ||
Other liabilities - interest rate derivatives | 5,443 | 5,199 | ||
Accrued interest payable | 3,924 | 2,204 | ||
Fair Value Estimate [Member] | ||||
Financial Assets | ||||
Cash and due from banks | 110,871 | 128,170 | ||
Trading securities | 7,929 | 7,071 | ||
Securities available-for-sale | 1,305,532 | 1,241,176 | ||
Securities held-to-maturity | 1,044,748 | 1,076,790 | ||
Net loans | 6,241,388 | 6,073,558 | ||
Loans held for sale | 26,888 | 17,315 | ||
Other assets - interest rate derivatives | 5,506 | 5,596 | ||
Accrued interest receivable | 30,152 | 28,299 | ||
Financial Liabilities | ||||
Deposits | 7,112,593 | 7,052,501 | ||
Federal Home Loan Bank borrowings | 1,014,117 | 974,430 | ||
Other borrowings | 165,579 | 199,385 | ||
Subordinated debt and junior subordinated debt | 138,421 | 134,859 | ||
Other liabilities - interest rate derivatives | 5,443 | 5,199 | ||
Accrued interest payable | 3,924 | 2,204 | ||
Investments Measured at Net Asset Value [Member] | ||||
Financial Assets | ||||
Trading securities | $ 1,472 | $ 1,438 |
Comprehensive Income - Componen
Comprehensive Income - Components of Accumulated Other Comprehensive Income (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Beginning Balance | $ 1,341,408 | $ 1,122,132 | ||
Amounts reclassified from accumulated other comprehensive income | $ 471 | $ 69 | 1,549 | (173) |
Total other comprehensive income | 6,289 | 15,892 | ||
Ending Balance | 1,394,558 | 1,347,151 | 1,394,558 | 1,347,151 |
Accumulated Defined Benefit Plans Adjustment [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Beginning Balance | (17,758) | (17,539) | ||
Amounts reclassified from accumulated other comprehensive income | 513 | 486 | 1,679 | 1,407 |
Total other comprehensive income | 1,679 | 1,407 | ||
Ending Balance | (16,079) | (16,132) | (16,079) | (16,132) |
Accumulated Unrealized Gains (Losses) on Securities Available for Sale [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Beginning Balance | (9,890) | (4,162) | ||
Other comprehensive income before reclassifications | 4,740 | 16,065 | ||
Amounts reclassified from accumulated other comprehensive income | (368) | 35 | (1,428) | |
Total other comprehensive income | 4,775 | 14,637 | ||
Ending Balance | (5,115) | 10,475 | (5,115) | 10,475 |
Accumulated Unrealized Gains on Securities Transferred from Available For Sale to Held to Maturity [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Beginning Balance | 522 | 747 | ||
Amounts reclassified from accumulated other comprehensive income | (42) | (49) | (165) | (152) |
Total other comprehensive income | (165) | (152) | ||
Ending Balance | 357 | 595 | 357 | 595 |
Accumulated Other Comprehensive (Loss) Income [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Beginning Balance | (27,126) | (20,954) | ||
Other comprehensive income before reclassifications | 4,740 | 16,065 | ||
Amounts reclassified from accumulated other comprehensive income | 1,549 | (173) | ||
Total other comprehensive income | 6,289 | 15,892 | ||
Ending Balance | $ (20,837) | $ (5,062) | $ (20,837) | $ (5,062) |
Comprehensive Income - Compon63
Comprehensive Income - Components of Accumulated Other Comprehensive Income (Parenthetical) (Detail) | 9 Months Ended | |
Sep. 30, 2017 | Sep. 30, 2016 | |
Statement of Comprehensive Income [Abstract] | ||
Percentage of Federal and State income tax rate | 37.00% | 37.00% |
Comprehensive Income - Schedule
Comprehensive Income - Schedule of Amounts Reclassified from Accumulated Other Comprehensive Income (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||
Net securities gains (Non-interest income) | $ (6) | $ (598) | $ (511) | $ (2,293) |
Interest and dividends on securities (Interest and dividend income) | (14,573) | (13,696) | (43,299) | (42,749) |
Employee benefits (Non-interest expense) | 7,728 | 6,275 | 23,670 | 20,684 |
Provision for income taxes | 10,527 | 5,793 | 30,801 | 22,572 |
Net effect on accumulated other comprehensive income for the period | 471 | 69 | 1,549 | (173) |
Accumulated Unrealized Gains (Losses) on Securities Available for Sale [Member] | ||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||
Net effect on accumulated other comprehensive income for the period | (368) | 35 | (1,428) | |
Accumulated Unrealized Gains on Securities Transferred from Available For Sale to Held to Maturity [Member] | ||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||
Net effect on accumulated other comprehensive income for the period | (42) | (49) | (165) | (152) |
Accumulated Defined Benefit Plans Adjustment [Member] | ||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||
Net effect on accumulated other comprehensive income for the period | 513 | 486 | 1,679 | 1,407 |
Amounts Reclassified From Accumulated Other Comprehensive Income/(Loss) [Member] | Accumulated Unrealized Gains (Losses) on Securities Available for Sale [Member] | ||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||
Net securities gains (Non-interest income) | (579) | 55 | (2,251) | |
Provision for income taxes | 211 | (20) | 823 | |
Amounts Reclassified From Accumulated Other Comprehensive Income/(Loss) [Member] | Accumulated Unrealized Gains on Securities Transferred from Available For Sale to Held to Maturity [Member] | ||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||
Interest and dividends on securities (Interest and dividend income) | (66) | (77) | (256) | (242) |
Provision for income taxes | 24 | 28 | 91 | 90 |
Amounts Reclassified From Accumulated Other Comprehensive Income/(Loss) [Member] | Accumulated Defined Benefit Plans Adjustment [Member] | ||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||
Employee benefits (Non-interest expense) | 816 | 766 | 2,429 | 2,280 |
Provision for income taxes | $ (303) | $ (280) | $ (750) | $ (873) |
Commitments and Contingent Li65
Commitments and Contingent Liabilities - Additional Information (Detail) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | Dec. 31, 2015 |
Commitments and Contingencies Disclosure [Abstract] | ||||
Allowance for credit losses associated with loan commitments | $ 647 | $ 571 | $ 576 | $ 613 |
Liability associated with letters of credit | $ 200 | $ 200 |
Commitments and Contingent Li66
Commitments and Contingent Liabilities - Commitments to Extend Credit, Guarantees and Various Letters of Credit Outstanding (Detail) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 |
Commitments and Contingencies Disclosure [Abstract] | ||
Lines of credit | $ 1,468,470 | $ 1,418,329 |
Loans approved but not closed | 243,723 | 185,253 |
Overdraft limits | 126,936 | 126,517 |
Letters of credit | 32,328 | 32,907 |
Contingent obligations to purchase loans funded by other entities | $ 6,974 | $ 13,036 |
Business Segments - Additional
Business Segments - Additional Information (Detail) $ in Millions | 9 Months Ended | |
Sep. 30, 2017USD ($)Segment | Sep. 30, 2016USD ($) | |
Segment Reporting Information [Line Items] | ||
Operating segments | Segment | 2 | |
Trust and Investment Services [Member] | ||
Segment Reporting Information [Line Items] | ||
Market value of assets managed or held in custody by trust and investment services segment | $ 3,900 | $ 3,700 |
Total non-fiduciary assets of the trust and investment services segment | $ 1.7 | $ 3.1 |
Business Segments - Financial I
Business Segments - Financial Information by Business Segment (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
Segment Reporting Information [Line Items] | ||||
Interest income | $ 85,489 | $ 70,092 | $ 247,573 | $ 205,278 |
Interest expense | 11,235 | 8,066 | 30,461 | 23,637 |
Net interest income | 74,254 | 62,026 | 217,112 | 181,641 |
Provision for credit losses | 2,516 | 2,214 | 7,610 | 6,350 |
Net interest income after provision for credit losses | 71,738 | 59,812 | 209,502 | 175,291 |
Non-interest income | 20,899 | 21,017 | 65,906 | 60,001 |
Non-interest expense | 55,754 | 57,601 | 166,023 | 150,303 |
Income before provision for income taxes | 36,883 | 23,228 | 109,385 | 84,989 |
Provision for income taxes | 10,527 | 5,793 | 30,801 | 22,572 |
Net income | 26,356 | 17,435 | 78,584 | 62,417 |
Community Banking [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Interest income | 85,489 | 70,092 | 247,573 | 205,278 |
Interest expense | 11,235 | 8,066 | 30,461 | 23,637 |
Net interest income | 74,254 | 62,026 | 217,112 | 181,641 |
Provision for credit losses | 2,516 | 2,214 | 7,610 | 6,350 |
Net interest income after provision for credit losses | 71,738 | 59,812 | 209,502 | 175,291 |
Non-interest income | 15,541 | 15,604 | 48,833 | 43,841 |
Non-interest expense | 52,355 | 54,569 | 156,102 | 141,029 |
Income before provision for income taxes | 34,924 | 20,847 | 102,233 | 78,103 |
Provision for income taxes | 9,744 | 4,841 | 27,940 | 19,818 |
Net income | 25,180 | 16,006 | 74,293 | 58,285 |
Trust and Investment Services [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Non-interest income | 5,358 | 5,413 | 17,073 | 16,160 |
Non-interest expense | 3,399 | 3,032 | 9,921 | 9,274 |
Income before provision for income taxes | 1,959 | 2,381 | 7,152 | 6,886 |
Provision for income taxes | 783 | 952 | 2,861 | 2,754 |
Net income | $ 1,176 | $ 1,429 | $ 4,291 | $ 4,132 |