Document And Entity Information
Document And Entity Information - shares | 6 Months Ended | |
Jun. 30, 2015 | Jul. 23, 2015 | |
Document and Entity Information [Abstract] | ||
Entity Registrant Name | WESTAMERICA BANCORPORATION | |
Trading Symbol | wabc | |
Document Type | 10-Q | |
Current Fiscal Year End Date | --12-31 | |
Entity Common Stock, Shares Outstanding | 25,550,874 | |
Amendment Flag | false | |
Entity Central Index Key | 311,094 | |
Entity Current Reporting Status | Yes | |
Entity Voluntary Filers | No | |
Entity Filer Category | Large Accelerated Filer | |
Entity Well-known Seasoned Issuer | Yes | |
Document Period End Date | Jun. 30, 2015 | |
Document Fiscal Year Focus | 2,015 | |
Document Fiscal Period Focus | Q2 |
Consolidated Balance Sheets (Un
Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Assets: | ||
Cash and due from banks | $ 289,606 | $ 380,836 |
Investment securities available for sale | 1,634,878 | 1,600,781 |
Investment securities held to maturity, with fair values of: $1,164,603 at June 30, 2015 and $1,048,562 at December 31, 2014 | 1,159,581 | 1,038,658 |
Loans | 1,631,271 | 1,700,290 |
Allowance for loan losses | (30,828) | (31,485) |
Loans, net of allowance for loan losses | 1,600,443 | 1,668,805 |
Other real estate owned | 9,260 | 6,374 |
Premises and equipment, net | 37,945 | 37,852 |
Identifiable intangibles, net | 12,331 | 14,287 |
Goodwill | 121,673 | 121,673 |
Other assets | 165,513 | 166,458 |
Total Assets | 5,031,230 | 5,035,724 |
Deposits: | ||
Noninterest bearing deposits | 1,930,551 | 1,910,781 |
Interest bearing deposits | 2,424,293 | 2,438,410 |
Total deposits | 4,354,844 | 4,349,191 |
Short-term borrowed funds | 82,747 | 89,784 |
Federal Home Loan Bank advances | 20,015 | |
Other liabilities | 68,301 | 50,131 |
Total Liabilities | 4,505,892 | 4,509,121 |
Shareholders' Equity: | ||
Common stock (no par value), authorized - 150,000 shares Issued and outstanding: 25,529 at June 30, 2015 and 25,745 at December 31, 2014 | 377,339 | 378,132 |
Deferred compensation | 2,711 | 2,711 |
Accumulated other comprehensive income | 3,988 | 5,292 |
Retained earnings | 141,300 | 140,468 |
Total Shareholders' Equity | 525,338 | 526,603 |
Total Liabilities and Shareholders' Equity | $ 5,031,230 | $ 5,035,724 |
Consolidated Balance Sheets (U3
Consolidated Balance Sheets (Unaudited) (Parentheticals) - USD ($) shares in Thousands, $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Investment securities held to maturity, fair value (in Dollars) | $ 1,164,603 | $ 1,048,562 |
Common stock, no par valuе (in Dollars per share) | $ 0 | $ 0 |
Common stock, sharеs authorizеd | 150,000 | 150,000 |
Common stock, sharеs issuеd | 25,529 | 25,745 |
Common stock, sharеs outstanding | 25,529 | 25,745 |
Consolidated Statements of Inco
Consolidated Statements of Income (Unaudited) - USD ($) shares in Thousands, $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Interest and Fee Income: | ||||
Loans | $ 20,035 | $ 22,787 | $ 40,265 | $ 45,688 |
Investment securities available for sale | 7,999 | 5,875 | 15,468 | 11,505 |
Investment securities held to maturity | 6,391 | 6,741 | 12,609 | 13,774 |
Total Interest and Fee Income | 34,425 | 35,403 | 68,342 | 70,967 |
Interest Expense: | ||||
Deposits | 601 | 754 | 1,243 | 1,508 |
Short-term borrowed funds | 16 | 21 | 32 | 41 |
Term repurchase agreement | 0 | 24 | 0 | 49 |
Federal Home Loan Bank advances | 0 | 101 | 1 | 200 |
Total Interest Expense | 617 | 900 | 1,276 | 1,798 |
Net Interest Income | 33,808 | 34,503 | 67,066 | 69,169 |
Provision for Loan Losses | 0 | 1,000 | 0 | 2,000 |
Net Interest Income After Provision For Loan Losses | 33,808 | 33,503 | 67,066 | 67,169 |
Noninterest Income: | ||||
Service charges on deposit accounts | 5,694 | 6,105 | 11,401 | 12,115 |
Merchant processing services | 1,783 | 1,820 | 3,486 | 3,744 |
Debit card fees | 1,534 | 1,534 | 2,990 | 2,939 |
Other service fees | 683 | 688 | 1,348 | 1,349 |
Trust fees | 672 | 615 | 1,378 | 1,269 |
ATM processing fees | 627 | 634 | 1,212 | 1,254 |
Financial services commissions | 198 | 221 | 351 | 392 |
Other | 1,078 | 1,581 | 2,403 | 3,126 |
Total Noninterest Income | 12,269 | 13,198 | 24,569 | 26,188 |
Noninterest Expense: | ||||
Salaries and related benefits | 13,696 | 13,926 | 27,034 | 28,052 |
Occupancy | 3,726 | 3,746 | 7,453 | 7,473 |
Outsourced data processing services | 2,111 | 2,115 | 4,219 | 4,220 |
Furniture and equipment | 1,158 | 1,005 | 2,277 | 2,010 |
Amortization of identifiable intangibles | 955 | 1,058 | 1,956 | 2,163 |
Courier service | 598 | 665 | 1,141 | 1,275 |
Professional fees | 582 | 577 | 1,130 | 1,007 |
Other real estate owned | 52 | (270) | 367 | (620) |
Other | 4,018 | 4,135 | 8,046 | 8,250 |
Total Noninterest Expense | 26,896 | 26,957 | 53,623 | 53,830 |
Income Before Income Taxes | 19,181 | 19,744 | 38,012 | 39,527 |
Provision for income taxes | 4,420 | 4,587 | 8,694 | 9,063 |
Net Income | $ 14,761 | $ 15,157 | $ 29,318 | $ 30,464 |
Average Common Shares Outstanding (in Shares) | 25,514 | 26,175 | 25,582 | 26,303 |
Diluted Average Common Shares Outstanding (in Shares) | 25,536 | 26,238 | 25,595 | 26,387 |
Per Common Share Data: | ||||
Basic earnings (in Dollars per share) | $ 0.58 | $ 0.58 | $ 1.15 | $ 1.16 |
Diluted earnings (in Dollars per share) | 0.58 | 0.58 | 1.15 | 1.15 |
Dividends paid (in Dollars per share) | $ 0.38 | $ 0.38 | $ 0.76 | $ 0.76 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Net Income | $ 14,761 | $ 15,157 | $ 29,318 | $ 30,464 |
Other comprehensive income: | ||||
(Decrease) increase in net unrealized gains on securities available for sale | (9,698) | 6,366 | (2,280) | 14,189 |
Deferred tax benefit (expense) | 4,078 | (2,677) | 958 | (5,966) |
(Decrease) increase in net unrealized gains on securities available for sale, net of tax | (5,620) | 3,689 | (1,322) | 8,223 |
Post-retirement benefit transition obligation amortization | 15 | 15 | 30 | 30 |
Deferred tax expense | (6) | (6) | (12) | (12) |
Post-retirement benefit transition obligation amortization, net of tax | 9 | 9 | 18 | 18 |
Total Other Comprehensive (Loss) Income | (5,611) | 3,698 | (1,304) | 8,241 |
Total Comprehensive Income | $ 9,150 | $ 18,855 | $ 28,014 | $ 38,705 |
Consolidated Statements of Chan
Consolidated Statements of Changes in Shareholders’ Equity (Unaudited) - USD ($) shares in Thousands, $ in Thousands | Common Stock [Member] | Accumulated Deferred Compensation [Member] | AOCI Attributable to Parent [Member] | Retained Earnings [Member] | Total |
Balance at Dec. 31, 2013 | $ 378,946 | $ 2,711 | $ 4,313 | $ 156,964 | $ 542,934 |
Balance (in Shares) at Dec. 31, 2013 | 26,510 | ||||
Net income for the year | 30,464 | 30,464 | |||
Other comprehensive income | 8,241 | 8,241 | |||
Exercise of stock options | $ 12,178 | 12,178 | |||
Exercise of stock options (in Shares) | 252 | ||||
Tax benefit decrease upon expiration/ exercise of stock options | $ (396) | (396) | |||
Restricted stock activity | $ 1,027 | 1,027 | |||
Restricted stock activity (in Shares) | 19 | ||||
Stock based compensation | $ 700 | 700 | |||
Stock awarded to employees | $ 69 | 69 | |||
Stock awarded to employees (in Shares) | 1 | ||||
Retirement of common stock including repurchases | $ (10,342) | (26,013) | (36,355) | ||
Retirement of common stock including repurchases (in Shares) | (708) | ||||
Dividends | (20,059) | (20,059) | |||
Balance at Jun. 30, 2014 | $ 382,182 | 2,711 | 12,554 | 141,356 | 538,803 |
Balance (in Shares) at Jun. 30, 2014 | 26,074 | ||||
Balance at Dec. 31, 2014 | $ 378,132 | 2,711 | 5,292 | 140,468 | 526,603 |
Balance (in Shares) at Dec. 31, 2014 | 25,745 | ||||
Net income for the year | 29,318 | 29,318 | |||
Other comprehensive income | (1,304) | (1,304) | |||
Exercise of stock options | $ 3,602 | 3,602 | |||
Exercise of stock options (in Shares) | 81 | ||||
Tax benefit decrease upon expiration/ exercise of stock options | $ (1,206) | (1,206) | |||
Restricted stock activity | $ 741 | 741 | |||
Restricted stock activity (in Shares) | 17 | ||||
Stock based compensation | $ 672 | 672 | |||
Stock awarded to employees | $ 69 | 69 | |||
Stock awarded to employees (in Shares) | 2 | ||||
Retirement of common stock including repurchases | $ (4,671) | (9,019) | (13,690) | ||
Retirement of common stock including repurchases (in Shares) | (316) | ||||
Dividends | (19,467) | (19,467) | |||
Balance at Jun. 30, 2015 | $ 377,339 | $ 2,711 | $ 3,988 | $ 141,300 | $ 525,338 |
Balance (in Shares) at Jun. 30, 2015 | 25,529 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | ||
Operating Activities: | |||
Net income | $ 29,318 | $ 30,464 | |
Adjustments to reconcile net income to net cash provided by operating activities: | |||
Depreciation and amortization | 7,957 | 7,210 | |
Loan loss provision | 0 | 2,000 | |
Net amortization of deferred loan fees | (149) | (134) | |
Decrease in interest income receivable | 54 | 105 | |
Increase in net deferred tax asset | (166) | (2,624) | |
(Increase) decrease in other assets | (1,064) | 1,426 | |
Stock option compensation expense | 672 | 700 | |
Tax benefit decrease upon expiration/exercise of stock options | 1,206 | 396 | |
Decrease in income taxes payable | (640) | (66) | |
Increase (decrease) in interest expense payable | 25 | (1) | |
(Decrease) increase in other liabilities | (2,939) | 7,147 | |
Gain on sale of other assets | (400) | ||
Net loss on sale of premises and equipment | 11 | 17 | |
Net gain on sale of foreclosed assets | (810) | ||
Writedown of foreclosed assets | 243 | 108 | |
Net Cash Provided by Operating Activities | 34,528 | 45,538 | |
Investing Activities: | |||
Net repayments of loans | $ 66,820 | 42,381 | |
Proceeds from FDIC1 loss-sharing indemnification | [1] | 6,703 | |
Purchases of investment securities available for sale | $ (627,164) | (382,123) | |
Proceeds from sale/maturity/calls of securities available for sale | 604,708 | 225,777 | |
Purchases of investment securities held to maturity | (189,632) | (18,373) | |
Proceeds from maturity/calls of securities held to maturity | 72,440 | 74,179 | |
Purchases of premises and equipment | (1,833) | (1,696) | |
Net change in FRB2/FHLB3 securities | [2],[3] | 940 | 3,248 |
Proceeds from sale of foreclosed assets | 100 | 6,080 | |
Net Cash Used in Investing Activities | (73,621) | (43,824) | |
Financing Activities: | |||
Net change in deposits | 5,661 | 49,689 | |
Net change in short-term borrowings and FHLB3 advances | [2] | (27,037) | 6,105 |
Exercise of stock options/issuance of shares | 3,602 | 12,178 | |
Tax benefit decrease upon expiration/exercise of stock options | (1,206) | (396) | |
Retirement of common stock including repurchases | (13,690) | (36,355) | |
Common stock dividends paid | (19,467) | (20,059) | |
Net Cash (Used in) Provided by Financing Activities | (52,137) | 11,162 | |
Net Change In Cash and Due from Banks | (91,230) | 12,876 | |
Cash and Due from Banks at Beginning of Period | 380,836 | 472,028 | |
Cash and Due from Banks at End of Period | 289,606 | 484,904 | |
Supplemental disclosure of non cash activities: | |||
Loan collateral transferred to other real estate owned | 3,229 | 968 | |
Securities purchases pending settlement | 24,952 | ||
Supplemental disclosure of cash flow activities: | |||
Interest paid for the period | 1,274 | 1,957 | |
Income tax payments for the period | $ 9,500 | $ 11,754 | |
[1] | Federal Deposit Insurance Corporation ("FDIC") | ||
[2] | Federal Home Loan Bank ("FHLB") | ||
[3] | Federal Reserve Bank ("FRB") |
Note 1 - Basis of Presentation
Note 1 - Basis of Presentation | 6 Months Ended |
Jun. 30, 2015 | |
Disclosure Text Block [Abstract] | |
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block] | Note 1: Basis of Presentation The accompanying unaudited consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America for interim financial information and pursuant to the rules and regulations of the Securities and Exchange Commission and follow general practices within the banking industry. The results of operations reflect interim adjustments, all of which are of a normal recurring nature and which, in the opinion of Management, are necessary for a fair presentation of the results for the interim periods presented. The interim results for the three and six months ended June 30, 2015 are not necessarily indicative of the results expected for the full year. These unaudited consolidated financial statements should be read in conjunction with the audited consolidated financial statements and accompanying notes as well as other information included in the Company's Annual Report on Form 10-K for the year ended December 31, 2014. |
Note 2 - Accounting Policies
Note 2 - Accounting Policies | 6 Months Ended |
Jun. 30, 2015 | |
Accounting Policies [Abstract] | |
Significant Accounting Policies [Text Block] | Note 2: Accounting Policies The most significant accounting policies followed by the Company are presented in Note 1 to the audited consolidated financial statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2014. These policies, along with the disclosures presented in the other financial statement notes and in this discussion, provide information on how significant assets and liabilities are valued in the financial statements and how those values are determined. Based on the valuation techniques used and the sensitivity of financial statement amounts to the methods, assumptions, and estimates underlying those amounts, Management has identified the allowance for loan losses accounting to be the accounting area requiring the most subjective or complex judgments, and as such could be most subject to revision as new information becomes available. A discussion of the factors affecting accounting for the allowance for loan losses and purchased loans is included in the “Loan Portfolio Credit Risk” section in Item 2 of this document. Certain amounts in prior periods have been reclassified to conform to the current presentation. Application of these principles requires the Company to make certain estimates, assumptions, and judgments that affect the amounts reported in the financial statements and accompanying notes. These estimates, assumptions, and judgments are based on information available as of the date of the financial statements; accordingly, as this information changes, the financial statements could reflect different estimates, assumptions, and judgments. Certain accounting policies inherently have a greater reliance on the use of estimates, assumptions and judgments and as such have a greater possibility of producing results that could be materially different than originally reported. Estimates, assumptions and judgments are necessary when assets and liabilities are required to be recorded at fair value, when a decline in the value of an asset not carried on the financial statements at fair value warrants an impairment writedown or valuation reserve to be established, or when an asset or liability needs to be recorded contingent upon a future event. Carrying assets and liabilities at fair value inherently results in more financial statement volatility. The fair values and the information used to record valuation adjustments for certain assets and liabilities are based either on quoted market prices or are provided by other third-party sources, when available. Recently Adopted Accounting Standards FASB ASU 2014-01 Investments- Equity Method and Joint Ventures (Topic 323): Accounting for Investments in Qualified Affordable Housing Projects The update also requires a reporting entity to disclose information regarding its investments in qualified affordable housing projects, and the effect of the measurement of its investments in qualified affordable housing projects and the related tax credits on its financial position and results of operations. The adoption of the update was limited to additional disclosures only and did not have a material effect on the Company’s financial statements at January 1, 2015, the date adopted. FASB ASU 2014-04, Re - Troubled Debt Restructurings by Creditors (Subtopic 310-40): Reclassification of Residential Real Estate Collateralized Consumer Mortgage Loans upon Foreclosure, The adoption of the update was limited to additional disclosures only and did not have a material effect on the Company’s financial statements at January 1, 2015, the date adopted. FASB ASU 2014-11 Transfers and Servicing (Topic 860): Repurchase-to-Maturity Transactions, Repurchase Financings, and Disclosures, . The adoption of the update was limited to additional disclosures only and did not have a material effect on the Company’s financial statements at April 1, 2015, the date adopted. |
Note 3 - Investment Securities
Note 3 - Investment Securities | 6 Months Ended |
Jun. 30, 2015 | |
Investments, Debt and Equity Securities [Abstract] | |
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | Note 3: Investment Securities An analysis of the amortized cost, gross unrealized gains and losses accumulated in other comprehensive income, and fair value of the available for sale investment securities portfolio follows: Investment Securities Available for Sale Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (In thousands) U.S. Treasury securities $ 3,500 $ 3 $ - $ 3,503 Securities of U.S. Government sponsored entities 431,800 675 (539 ) 431,936 Residential mortgage-backed securities 20,955 1,468 (8 ) 22,415 Commercial mortgage-backed securities 2,638 4 (10 ) 2,632 Obligations of states and political subdivisions 159,738 8,670 (156 ) 168,252 Residential collateralized mortgage obligations 209,448 537 (7,235 ) 202,750 Asset-backed securities 2,672 - (13 ) 2,659 FHLMC 1 2 775 5,014 - 5,789 Corporate securities 794,276 1,829 (3,984 ) 792,121 Other securities 2,039 924 (142 ) 2,821 Total $ 1,627,841 $ 19,124 $ (12,087 ) $ 1,634,878 1 2 An analysis of the amortized cost, gross unrecognized gains and losses, and fair value of the held to maturity investment securities portfolio follows: Investment Securities Held to Maturity Amortized Cost Gross Gross Fair Value (In thousands) Securities of U.S. government sponsored entities $ 912 $ 7 $ - $ 919 Residential mortgage-backed securities 220,364 949 (775 ) 220,538 Commercial mortgage-backed securities 16,498 43 (148 ) 16,393 Obligations of states and political subdivisions 692,585 8,629 (3,720 ) 697,494 Residential collateralized mortgage obligations 229,222 1,880 (1,843 ) 229,259 Total $ 1,159,581 $ 11,508 $ (6,486 ) $ 1,164,603 An analysis of the amortized cost, gross unrealized gains and losses accumulated in other comprehensive income, and fair value of the available for sale investment securities portfolio follows: Investment Securities Available for Sale Amortized Cost Gross Gross Fair Value (In thousands) U.S. Treasury securities $ 3,500 $ 5 $ - $ 3,505 Securities of U.S. Government sponsored entities 635,278 937 (1,027 ) 635,188 Residential mortgage-backed securities 24,647 1,776 (16 ) 26,407 Commercial mortgage-backed securities 2,923 6 (10 ) 2,919 Obligations of states and political subdivisions 171,907 10,015 (123 ) 181,799 Residential collateralized mortgage obligations 230,347 634 (8,524 ) 222,457 Asset-backed securities 8,349 - (36 ) 8,313 FHLMC 1 2 775 4,393 - 5,168 Corporate securities 511,699 2,169 (1,629 ) 512,239 Other securities 2,039 871 (124 ) 2,786 Total $ 1,591,464 $ 20,806 $ (11,489 ) $ 1,600,781 1 2 An analysis of the amortized cost, gross unrecognized gains and losses, and fair value of the held to maturity investment securities portfolio follows: Investment Securities Held to Maturity Amortized Cost Gross Gross Fair Value (In thousands) Securities of U.S. government sponsored entities $ 1,066 $ 11 $ - $ 1,077 Residential mortgage-backed securities 59,078 1,183 (137 ) 60,124 Obligations of states and political subdivisions 720,189 11,350 (2,358 ) 729,181 Residential collateralized mortgage obligations 258,325 2,236 (2,381 ) 258,180 Total $ 1,038,658 $ 14,780 $ (4,876 ) $ 1,048,562 The amortized cost and fair value of investment securities by contractual maturity are shown in the following table At June 30, 2015 Securities Available Securities Held Amortized Fair Amortized Fair (In thousands) Maturity in years: 1 year or less $ 99,091 $ 99,319 $ 13,500 $ 14,053 Over 1 to 5 years 1,095,152 1,094,069 239,801 241,670 Over 5 to 10 years 155,190 159,881 266,989 269,180 Over 10 years 42,553 45,202 173,207 173,510 Subtotal 1,391,986 1,398,471 693,497 698,413 Mortgage-backed securities and residential collateralized mortgage obligations 233,041 227,797 466,084 466,190 Other securities 2,814 8,610 - - Total $ 1,627,841 $ 1,634,878 $ 1,159,581 $ 1,164,603 Securities available for sale at June 30, 2015 with maturity dates over one year but less than five years include $385,723 $118,469 At December 31, 2014 Securities Available Securities Held Amortized Fair Amortized Fair (In thousands) Maturity in years: 1 year or less $ 57,891 $ 57,991 $ 15,355 $ 15,855 Over 1 to 5 years 629,200 630,797 228,380 230,248 Over 5 to 10 years 584,872 589,250 285,219 288,631 Over 10 years 58,770 63,006 192,301 195,524 Subtotal 1,330,733 1,341,044 721,255 730,258 Mortgage-backed securities and residential collateralized mortgage obligations 257,917 251,783 317,403 318,304 Other securities 2,814 7,954 - - Total $ 1,591,464 $ 1,600,781 $ 1,038,658 $ 1,048,562 Expected maturities of mortgage-backed securities can differ from contractual maturities because borrowers have the right to call or prepay obligations with or without call or prepayment penalties. In addition, such factors as prepayments and interest rates may affect the yield on the carrying value of mortgage-backed securities. At June 30, 2015 and December 31, 2014, the Company had no high-risk collateralized mortgage obligations as defined by regulatory guidelines. An analysis of the gross unrealized losses of the available for sale investment securities portfolio follows: Investment Securities Available for Sale No. of Less than 12 months No. of 12 months or longer No. of Total Investment Fair Unrealized Investment Fair Unrealized Investment Fair Unrealized Positions Value Losses Positions Value Losses Positions Value Losses ($ in thousands) Securities of U.S. Government sponsored entities 16 $ 138,060 $ (517 ) 1 $ 9,978 $ (22 ) 17 $ 148,038 $ (539 ) Residential mortgage-backed securities - - - 1 795 (8 ) 1 795 (8 ) Commercial mortgage-backed securities 1 900 (7 ) 1 609 (3 ) 2 1,509 (10 ) Obligations of states and political subdivisions 6 2,826 (41 ) 11 3,824 (115 ) 17 6,650 (156 ) Residential collateralized mortgage obligations 2 14,061 (326 ) 29 174,725 (6,909 ) 31 188,786 (7,235 ) Asset-backed securities - - - 1 2,659 (13 ) 1 2,659 (13 ) Corporate securities 83 405,109 (3,417 ) 13 43,809 (567 ) 96 448,918 (3,984 ) Other securities - - - 1 1,858 (142 ) 1 1,858 (142 ) Total 108 $ 560,956 $ (4,308 ) 58 $ 238,257 $ (7,779 ) 166 $ 799,213 $ (12,087 ) An analysis of gross unrecognized losses of the held to maturity investment securities portfolio follows: Investment Securities Held to Maturity No. of Less than 12 months No. of 12 months or longer No. of Total Investment Unrecognized Investment Unrecognized Investment Unrecognized Positions Fair Value Losses Positions Fair Value Losses Positions Fair Value Losses ($ in thousands) Residential mortgage- backed securities 11 $ 176,217 $ (772 ) 1 $ 128 $ (3 ) 12 $ 176,345 $ (775 ) Commercial mortgage-backed securities 2 14,290 (148 ) - - - 2 14,290 (148 ) Obligations of states and political subdivisions 200 169,949 (1,441 ) 81 69,233 (2,279 ) 281 239,182 (3,720 ) Residential collateralized mortgage obligations 15 58,640 (388 ) 14 79,005 (1,455 ) 29 137,645 (1,843 ) Total 228 $ 419,096 $ (2,749 ) 96 $ 148,366 $ (3,737 ) 324 $ 567,462 $ (6,486 ) The unrealized losses on the Company’s investment securities were caused by market conditions for these types of investments, particularly changes in risk-free interest rates. The Company evaluates securities on a quarterly basis including changes in security ratings issued by ratings agencies, changes in the financial condition of the issuer, and, for mortgage-related and asset-backed securities, delinquency and loss information with respect to the underlying collateral, changes in the levels of subordination for the Company’s particular position within the repayment structure and remaining credit enhancement as compared to expected credit losses of the security. Substantially all of these securities continue to be investment grade rated by a major rating agency. In addition to monitoring credit rating agency evaluations, Management performs its own evaluations regarding the credit worthiness of the issuer or the securitized assets underlying asset backed securities. The Company does not intend to sell any investments and has concluded that it is more likely than not that it will not be required to sell the investments prior to recovery of the amortized cost basis. Therefore, the Company does not consider these investments to be other-than-temporarily impaired as of June 30, 2015. The fair values of the investment securities could decline in the future if the general economy deteriorates, inflation increases, credit ratings decline, the issuer’s financial condition deteriorates, or the liquidity for securities declines. As a result, other than temporary impairments may occur in the future. As of June 30, 2015, $758,847 An analysis of gross unrealized losses Investment Securities Available for Sale No. of Less than 12 months No. of 12 months or longer No. of Total Investment Fair Unrealized Investment Fair Unrealized Investment Fair Unrealized Positions Value Losses Positions Value Losses Positions Value Losses ($ in thousands) Securities of U.S. Government sponsored entities 15 $ 253,632 $ (989 ) 1 $ 9,963 $ (38 ) 16 $ 263,595 $ (1,027 ) Residential mortgage-backed securities - - - 2 822 (16 ) 2 822 (16 ) Commercial mortgage-backed securities 1 942 (7 ) 1 803 (3 ) 2 1,745 (10 ) Obligations of states and political subdivisions 7 2,548 (18 ) 17 5,518 (105 ) 24 8,066 (123 ) Residential collateralized mortgage obligations - - - 32 205,074 (8,524 ) 32 205,074 (8,524 ) Asset-backed securities 1 5,008 (7 ) 1 3,305 (29 ) 2 8,313 (36 ) Corporate securities 53 165,026 (1,304 ) 5 34,222 (325 ) 58 199,248 (1,629 ) Other securities - - - 1 1,876 (124 ) 1 1,876 (124 ) Total 77 $ 427,156 $ (2,325 ) 60 $ 261,583 $ (9,164 ) 137 $ 688,739 $ (11,489 ) An analysis of gross unrecognized losses Investment Securities Held to Maturity No. of Less than 12 months No. of 12 months or longer No. of Total Investment Fair Unrecognized Investment Fair Unrecognized Investment Fair Unrecognized Positions Value Losses Positions Value Losses Positions Value Losses ($ in thousands) Residential mortgage-backed securities 4 $ 19,467 $ (132 ) 1 $ 201 $ (5 ) 5 $ 19,668 $ (137 ) Obligations of states and political subdivisions 103 76,202 (439 ) 138 123,370 (1,919 ) 241 199,572 (2,358 ) Residential collateralized mortgage obligations 5 13,932 (166 ) 22 119,513 (2,215 ) 27 133,445 (2,381 ) Total 112 $ 109,601 $ (737 ) 161 $ 243,084 $ (4,139 ) 273 $ 352,685 $ (4,876 ) The following table provides information about the amount of interest income earned on investment securities which is fully taxable and which is exempt from regular federal income tax: For the Three Months For the Six Months Ended June 30, 2015 2014 2015 2014 (In thousands) Taxable $ 8,393 $ 5,876 $ 15,946 $ 11,559 Tax-exempt 5,997 6,740 12,131 13,720 Total interest income from investment securities $ 14,390 $ 12,616 $ 28,077 $ 25,279 |
Note 4 - Loans and Allowance fo
Note 4 - Loans and Allowance for Credit Losses | 6 Months Ended |
Jun. 30, 2015 | |
Loans And Allowance For Credit Losses [Abstract] | |
Loans And Allowance For Credit Losses [Text Block] | Note 4: Loans and Allowance for Credit Losses A summary of the major categories of loans outstanding is shown in the following tables. At June 30, 2015 Commercial Commercial Real Estate Construction Residential Real Estate Consumer Total (In thousands) Originated loans $ 370,997 $ 548,610 $ 6,762 $ 134,421 $ 364,257 $ 1,425,047 Purchased covered loans: Gross purchased covered loans - - - 2,520 12,786 15,306 Purchased loan discount - - - (133 ) (64 ) (197 ) Purchased non-covered loans: Gross purchased non-covered loans 16,292 143,722 995 706 37,180 198,895 Purchased loan discount (1,168 ) (5,089 ) - (262 ) (1,261 ) (7,780 ) Total $ 386,121 $ 687,243 $ 7,757 $ 137,252 $ 412,898 $ 1,631,271 At December 31, 2014 Commercial Commercial Construction Residential Consumer Total (In thousands) Originated loans $ 374,005 $ 567,594 $ 11,003 $ 146,925 $ 370,842 $ 1,470,369 Purchased covered loans: Gross purchased covered loans - - - 2,626 14,920 17,546 Purchased loan discount - - - (434 ) (34 ) (468 ) Purchased non-covered loans: Gross purchased non-covered loans 19,166 157,502 2,919 972 41,656 222,215 Purchased loan discount (1,356 ) (6,492 ) (50 ) (262 ) (1,212 ) (9,372 ) Total $ 391,815 $ 718,604 $ 13,872 $ 149,827 $ 426,172 $ 1,700,290 Changes in the carrying amount of impaired purchased loans were as follows: For the For the Year Ended Impaired purchased loans (In thousands) Carrying amount at the beginning of the period $ 4,672 $ 4,936 Reductions during the period (32 ) (264 ) Carrying amount at the end of the period $ 4,640 $ 4,672 Changes in the accretable yield for purchased loans were as follows: For the For the Accretable yield: (In thousands) Balance at the beginning of the period $ 2,261 $ 2,505 Reclassification from nonaccretable difference 1,365 5,016 Accretion (1,835 ) (5,260 ) Balance at the end of the period $ 1,791 $ 2,261 Accretion $ (1,835 ) $ (5,260 ) Change in FDIC indemnification 230 1,110 (Increase) in interest income $ (1,605 ) $ (4,150 ) The following summarizes activity in the allowance for loan losses: Allowance for Loan Losses Commercial Commercial Real Estate Construction Residential Real Estate Consumer Purchased Purchased Unallocated Total (In thousands) Allowance for loan losses: Balance at beginning of period $ 5,470 $ 4,123 $ 730 $ 2,140 $ 7,031 $ 2,339 $ - $ 9,354 $ 31,187 Additions: Provision 1,704 758 (327 ) (82 ) 350 (921 ) - (1,482 ) - Deductions: Chargeoffs (401 ) - - - (576 ) (396 ) - - (1,373 ) Recoveries 334 15 - - 443 222 - - 1,014 Net loan (losses) recoveries (67 ) 15 - - (133 ) (174 ) - - (359 ) Total allowance for loan losses $ 7,107 $ 4,896 $ 403 $ 2,058 $ 7,248 $ 1,244 $ - $ 7,872 $ 30,828 Allowance for Loan Losses Commercial Commercial Real Estate Construction Residential Real Estate Consumer Purchased Purchased Unallocated Total (In thousands) Allowance for loan losses: Balance at beginning of period $ 5,460 $ 4,245 $ 644 $ 2,241 $ 7,717 $ 2,120 $ - $ 9,058 $ 31,485 Additions: Provision 1,594 621 (241 ) (183 ) 69 (674 ) - (1,186 ) - Deductions: Chargeoffs (461 ) - - - (1,571 ) (431 ) - - (2,463 ) Recoveries 514 30 - - 1,033 229 - - 1,806 Net loan recoveries (losses) 53 30 - - (538 ) (202 ) - - (657 ) Total allowance for loan losses $ 7,107 $ 4,896 $ 403 $ 2,058 $ 7,248 $ 1,244 $ - $ 7,872 $ 30,828 Allowance for Credit Losses Commercial Commercial Real Estate Construction Residential Real Estate Consumer Purchased Purchased Unallocated Total (In thousands) Allowance for loan losses: Balance at beginning of period $ 4,243 $ 11,259 $ 445 $ 491 $ 2,813 $ 2,574 $ - $ 10,284 $ 32,109 Additions: Provision 1,085 (610 ) (3 ) (52 ) (75 ) 115 - 540 1,000 Deductions: Chargeoffs (150 ) - - (30 ) (1,301 ) - - - (1,481 ) Recoveries 119 15 - - 618 18 - - 770 Net loan (losses) recoveries (31 ) 15 - (30 ) (683 ) 18 - - (711 ) Balance at end of period 5,297 10,664 442 409 2,055 2,707 - 10,824 32,398 Liability for off-balance sheet credit exposure 1,733 24 165 - 465 243 23 40 2,693 Total allowance for credit losses $ 7,030 $ 10,688 $ 607 $ 409 $ 2,520 $ 2,950 $ 23 $ 10,864 $ 35,091 FDIC indemnification expired February 6, 2014 for County Bank non-single-family residential collateralized purchased loans; accordingly, such loans have been reclassified from purchased covered loans to purchased non-covered loans as well as the related allowance for credit losses. Allowance for Credit Losses Commercial Commercial Construction Residential Consumer Purchased Purchased Unallocated Total (In thousands) Allowance for loan losses: Balance at beginning of period $ 4,005 $ 12,070 $ 602 $ 405 $ 3,198 $ - $ 1,561 $ 9,852 $ 31,693 Additions: Provision 1,215 (1,584 ) (163 ) 34 139 1,387 - 972 2,000 Deductions: Chargeoffs (210 ) - - (30 ) (2,300 ) (260 ) - - (2,800 ) Recoveries 287 178 3 - 1,018 19 - - 1,505 Net loan recoveries (losses) 77 178 3 (30 ) (1,282 ) (241 ) - - (1,295 ) Indemnification expiration - - - - - 1,561 (1,561 ) - - Balance at end of period 5,297 10,664 442 409 2,055 2,707 - 10,824 32,398 Liability for off-balance sheet credit exposure 1,733 24 165 - 465 243 23 40 2,693 Total allowance for credit losses $ 7,030 $ 10,688 $ 607 $ 409 $ 2,520 $ 2,950 $ 23 $ 10,864 $ 35,091 The allowance for credit losses and recorded investment in loans were evaluated for impairment as follows: Allowance for Loan Losses and Recorded Investment in Loans Evaluated for Impairment Commercial Commercial Real Estate Construction Residential Real Estate Consumer Installment and Other Purchased Non-covered Loans Purchased Covered Loans Unallocated Total (In thousands) Allowance for loan losses: Individually evaluated for impairment $ 2,533 $ 1,034 $ - $ - $ - $ - $ - $ - $ 3,567 Collectively evaluated for impairment 4,574 3,862 403 2,058 7,248 1,244 - 7,872 27,261 Purchased loans with evidence of credit deterioration - - - - - - - - - Total $ 7,107 $ 4,896 $ 403 $ 2,058 $ 7,248 $ 1,244 $ - $ 7,872 $ 30,828 Carrying value of loans: Individually evaluated for impairment $ 12,417 $ 5,806 $ - $ - $ - $ 11,712 $ - $ - $ 29,935 Collectively evaluated for impairment 358,580 542,804 6,762 134,421 364,257 174,980 14,892 - 1,596,696 Purchased loans with evidence of credit deterioration - - - - - 4,423 217 - 4,640 Total $ 370,997 $ 548,610 $ 6,762 $ 134,421 $ 364,257 $ 191,115 $ 15,109 $ - $ 1,631,271 Allowance for Credit Losses and Recorded Investment in Loans Evaluated for Impairment Commercial Commercial Real Estate Construction Residential Real Estate Consumer Installment and Other Purchased Non-covered Loans Purchased Covered Loans Unallocated Total (In thousands) Allowance for credit losses: Individually evaluated for impairment $ 496 $ - $ - $ - $ - $ - $ - $ - $ 496 Collectively evaluated for impairment 7,372 4,245 988 2,241 8,154 2,120 - 8,562 33,682 Purchased loans with evidence of credit deterioration - - - - - - - - - Total $ 7,868 $ 4,245 $ 988 $ 2,241 $ 8,154 $ 2,120 $ - $ 8,562 $ 34,178 Carrying value of loans: Individually evaluated for impairment $ 11,811 $ 2,970 $ - $ 574 $ 599 $ 12,364 $ - $ - $ 28,318 Collectively evaluated for impairment 362,194 564,624 11,003 146,351 370,243 196,034 16,851 - 1,667,300 Purchased loans with evidence of credit deterioration - - - - - 4,445 227 - 4,672 Total $ 374,005 $ 567,594 $ 11,003 $ 146,925 $ 370,842 $ 212,843 $ 17,078 $ - $ 1,700,290 The Bank’s customers are small businesses, professionals and consumers. Given the scale of these borrowers, corporate credit rating agencies do not evaluate the borrowers’ financial condition. The Bank maintains a Loan Review Department which reports directly to the Board of Directors. The Loan Review Department performs independent evaluations of loans and assigns credit risk grades to evaluated loans using grading standards employed by bank regulatory agencies. Loans judged to carry lower-risk attributes are assigned a “pass” grade, with a minimal likelihood of loss. Loans judged to carry higher-risk attributes are referred to as “classified loans,” and are further disaggregated, with increasing expectations for loss recognition, as “substandard,” “doubtful,” and “loss.” Loan Review Department evaluations occur every calendar quarter. If the Bank becomes aware of deterioration in a borrower’s performance or financial condition between Loan Review Department examinations, assigned risk grades are re-evaluated promptly. Credit risk grades assigned by the Loan Review Department are subject to review by the Bank’s regulatory authorities during regulatory examinations. The following summarizes the credit risk profile by internally assigned grade: Credit Risk Profile by Internally Assigned Grade Commercial Commercial Real Estate Construction Residential Real Estate Consumer Installment and Other Purchased Non-covered Loans Purchased Covered Loans (1) Total (In thousands) Grade: Pass $ 354,025 $ 518,410 $ 6,762 $ 132,116 $ 363,193 $ 161,919 $ 13,621 $ 1,550,046 Substandard 16,961 30,200 - 2,305 812 36,902 1,685 88,865 Doubtful 11 - - - 9 74 - 94 Loss - - - - 243 - - 243 Purchased loan discount - - - - - (7,780 ) (197 ) (7,977 ) Total $ 370,997 $ 548,610 $ 6,762 $ 134,421 $ 364,257 $ 191,115 $ 15,109 $ 1,631,271 (1) Credit Risk Profile by Internally Assigned Grade Commercial Commercial Real Estate Construction Residential Real Estate Consumer Installment and Other Purchased Non-covered Loans Purchased Covered Loans (1) Total (In thousands) Grade: Pass $ 366,487 $ 527,980 $ 11,003 $ 144,902 $ 369,618 $ 182,644 $ 15,509 $ 1,618,143 Substandard 7,506 39,614 - 2,023 734 39,473 2,037 91,387 Doubtful 12 - - - 12 77 - 101 Loss - - - - 478 21 - 499 Purchased loan discount - - - - - (9,372 ) (468 ) (9,840 ) Total $ 374,005 $ 567,594 $ 11,003 $ 146,925 $ 370,842 $ 212,843 $ 17,078 $ 1,700,290 (1) The following tables summarize loans by delinquency and nonaccrual status: Summary of Loans by Delinquency and Nonaccrual Status Current and Accruing 30-59 Days Past Due and Accruing 60-89 Days Past Due and Accruing Past Due 90 days or More and Accruing Nonaccrual Total Loans (In thousands) Commercial $ 367,250 $ 3,053 $ 533 $ - $ 161 $ 370,997 Commercial real estate 534,629 6,554 1,308 - 6,119 548,610 Construction 6,762 - - - - 6,762 Residential real estate 132,049 2,044 328 - - 134,421 Consumer installment and other 360,943 2,617 476 221 - 364,257 Total originated loans 1,401,633 14,268 2,645 221 6,280 1,425,047 Purchased non-covered loans 177,690 2,401 1,082 - 9,942 191,115 Purchased covered loans 15,076 30 - - 3 15,109 Total $ 1,594,399 $ 16,699 $ 3,727 $ 221 $ 16,225 $ 1,631,271 Summary of Loans by Delinquency and Nonaccrual Status Current and Accruing 30-59 Days Past Due and Accruing 60-89 Days Past Due and Accruing Past Due 90 days or More and Accruing Nonaccrual Total Loans (In thousands) Commercial $ 372,235 $ 1,704 $ 36 $ - $ 30 $ 374,005 Commercial real estate 557,041 6,500 - - 4,053 567,594 Construction 11,003 - - - - 11,003 Residential real estate 144,021 1,513 817 - 574 146,925 Consumer installment and other 365,753 3,310 625 502 652 370,842 Total originated loans 1,450,053 13,027 1,478 502 5,309 1,470,369 Purchased non-covered loans 196,150 4,204 491 - 11,998 212,843 Purchased covered loans 16,389 389 3 - 297 17,078 Total $ 1,662,592 $ 17,620 $ 1,972 $ 502 $ 17,604 $ 1,700,290 The following is a summary of the effect of nonaccrual loans on interest income: For the Three Months For the Six Months Ended June 30, 2015 2014 2015 2014 (In thousands) Interest income that would have been recognized had the loans performed in accordance with their original terms $ 342 $ 276 $ 654 $ 534 Less: Interest income recognized on nonaccrual loans (118 ) (25 ) (324 ) (69 ) Total reduction of interest income $ 224 $ 251 $ 330 $ 465 There were no commitments to lend additional funds to borrowers whose loans were on nonaccrual status at June 30, 2015 and December 31, 2014. The following summarizes impaired loans: Impaired Loans Recorded Investment Unpaid Related Allowance (In thousands) Impaired loans with no related allowance recorded: Commercial $ 2,756 $ 2,821 $ - Commercial real estate 17,161 22,374 - Construction - - - Residential real estate 240 270 - Consumer installment and other 664 711 - Impaired loans with an allowance recorded: Commercial 9,860 9,860 2,533 Commercial real estate 5,109 5,109 1,034 Construction - - - Residential real estate - - - Consumer installment and other - - - Total: Commercial $ 12,616 $ 12,681 $ 2,533 Commercial real estate 22,270 27,483 1,034 Construction - - - Residential real estate 240 270 - Consumer installment and other 664 711 - Impaired Loans Recorded Investment Unpaid Related Allowance (In thousands) Impaired loans with no related allowance recorded: Commercial $ 2,031 $ 2,095 $ - Commercial real estate 19,478 25,519 - Construction 1,834 1,884 - Residential real estate 574 574 - Consumer installment and other 1,518 1,628 - Impaired loans with an allowance recorded: Commercial 9,910 9,910 496 Commercial real estate - - - Construction - - - Residential real estate - - - Consumer installment and other - - - Total: Commercial $ 11,941 $ 12,005 $ 496 Commercial real estate 19,478 25,519 - Construction 1,834 1,884 - Residential real estate 574 574 - Consumer installment and other 1,518 1,628 - Impaired loans include troubled debt restructured loans. Impaired loans at June 30, 2015, included $ 6,594 Impaired Loans For the Three Months Ended June 30, For the Six Months Ended June 30, 2015 2014 2015 2014 Average Recognized Average Recognized Average Recognized Average Recognized (In thousands) Commercial $ 12,564 $ 147 $ 4,437 $ 60 $ 12,395 $ 293 $ 4,639 $ 127 Commercial real estate 19,715 147 19,800 153 19,017 404 19,549 270 Construction - - 2,035 - 459 - 2,147 - Residential real estate 693 8 162 - 776 14 162 - Consumer installment and other 797 7 1,324 7 1,026 13 1,520 15 Total $ 33,769 $ 309 $ 27,758 $ 220 $ 33,673 $ 724 $ 28,017 $ 412 The following table provides information on troubled debt restructurings: Troubled Debt Restructurings Number of Contracts Pre-Modification Carrying Value Period-End Carrying Value Period-End (In thousands) Commercial 6 $ 2,813 $ 2,557 $ - Commercial real estate 6 3,975 3,797 - Residential real estate 1 241 237 - Consumer installment and other 1 18 3 - Total 14 $ 7,047 $ 6,594 $ - Troubled Debt Restructurings Number of Pre-Modification Period-End Period-End (In thousands) Commercial 4 $ 3,299 $ 2,992 $ 262 Commercial real estate 2 2,291 2,326 - Consumer installment and other 1 18 14 - Total 7 $ 5,608 $ 5,332 $ 262 During the three and six months ended June 30, 2015, the Company modified one 100 six 1,830 The Company repaid $20,015 thousand of Federal Home Loan Bank (“FHLB”) advances in January 2015, which had been collateralized by loans; the collateral requirements expired upon repayment of the debt. At December 31, 2014, the Company pledged loans to secure borrowings with a carrying value of $20,015 thousand from the FHLB. The loans restricted due to collateral requirements approximated $18,366 thousand at December 31, 2014. There were no loans held for sale at June 30, 2015 and December 31, 2014. At June 30, 2015 and June 30, 2014, the Company held total other real estate owned (OREO) of $ 9,260 486 585 -0- 705 |
Note 5 - Concentration of Credi
Note 5 - Concentration of Credit Risk | 6 Months Ended |
Jun. 30, 2015 | |
Risks and Uncertainties [Abstract] | |
Concentration Risk Disclosure [Text Block] | Note 5: Concentration of Credit Risk Under the California Financial Code, loans to any one person owing to a commercial bank at any one time shall not exceed the following limitations: (a) unsecured loans shall not exceed 15 percent of the sum of the shareholders' equity, allowance for loan losses, capital notes, and debentures of the bank, or (b) secured and unsecured loans in all shall not exceed 25 percent of the sum of the shareholders' equity, allowance for loan losses, capital notes, and debentures of the bank. At June 30, 2015, Westamerica Bank did not have loans to any one customer exceeding these limits; Westamerica Bank had 41 63,076 |
Note 6 - Other Assets
Note 6 - Other Assets | 6 Months Ended |
Jun. 30, 2015 | |
Disclosure Text Block Supplement [Abstract] | |
Other Assets Disclosure [Text Block] | Note 6: Other Assets Other assets consisted of the following: At June 30, At December 31, (In thousands) Cost method equity investments: Federal Reserve Bank stock (1) $ 14,069 $ 14,069 Federal Home Loan Bank stock (2) - 940 Other investments 201 241 Total cost method equity investments 14,270 15,250 Life insurance cash surrender value 47,717 46,479 Net deferred tax asset 50,669 50,903 Limited partnership investments 16,695 18,673 Interest receivable 19,340 19,394 Prepaid assets 5,195 5,609 Other assets 11,627 10,150 Total other assets $ 165,513 $ 166,458 (1) A bank applying for membership in the Federal Reserve System is required to subscribe to stock in the Federal Reserve Bank of San Francisco (FRB) in a sum equal to six percent of the bank’s paid-up capital stock and surplus. One-half of the amount of the bank's subscription shall be paid to the FRB and the remaining half will be subject to call when deemed necessary by the Board of Governors of the Federal Reserve System. (2) Borrowings from the FHLB must be supported by capital stock holdings. The minimum activity-based requirement is 4.7% of the outstanding advances. The requirement may be adjusted from time to time by the FHLB within limits established in the FHLB's Capital Plan. The Company invests in flow-through limited liability entities that manage or invest in affordable housing projects that qualify for low-income housing tax credits. At June 30, 2015, this investment totaled $ 16,695 2,310 464 The amounts recognized in net income for these investments include: For the Three Months For the Six Months Ended June 30, 2015 2014 2015 2014 (In thousands) Investment loss included in pre-tax income $ 750 $ 750 $ 1,425 $ 1,450 Tax credits recognized in provision for income taxes 658 771 1,316 1,542 |
Note 7 - Goodwill and Identifia
Note 7 - Goodwill and Identifiable Intangible Assets | 6 Months Ended |
Jun. 30, 2015 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Goodwill and Intangible Assets Disclosure [Text Block] | Note 7: Goodwill and Identifiable Intangible Assets The Company has recorded goodwill and other identifiable intangibles associated with purchase business combinations. Goodwill is not amortized, but is periodically evaluated for impairment. The Company did not recognize impairment during the three and six months ended June 30, 2015 and year ended December 31, 2014. Identifiable intangibles are amortized to their estimated residual values over their expected useful lives. Such lives and residual values are also periodically reassessed to determine if any amortization period adjustments are indicated. During the six months ended June 30, 2015 and year ended December 31, 2014, no such adjustments were recorded. The carrying values of goodwill were: At June 30, At December 31, 2015 2014 (In thousands) Goodwill $ 121,673 $ 121,673 The gross carrying amount of identifiable intangible assets and accumulated amortization was: At June 30, 2015 At December 31, 2014 Gross Accumulated Amortization Gross Accumulated Amortization (In thousands) Core Deposit Intangibles $ 56,808 $ (45,008 ) $ 56,808 $ (43,188 ) Merchant Draft Processing Intangible 10,300 (9,769 ) 10,300 (9,633 ) Total Identifiable Intangible Assets $ 67,108 $ (54,777 ) $ 67,108 $ (52,821 ) As of June 30, 2015, the current year and estimated future amortization expense for identifiable intangible assets was: Core Merchant Total (In thousands) Six months ended June 30, 2015 (actual) $ 1,820 $ 136 $ 1,956 Estimate for year ended December 31, 2015 3,594 262 3,856 2016 3,292 212 3,504 2017 2,913 164 3,077 2018 1,892 29 1,921 2019 538 - 538 2020 287 - 287 |
Note 8 - Deposits and Borrowed
Note 8 - Deposits and Borrowed Funds | 6 Months Ended |
Jun. 30, 2015 | |
Deposits And Borrowed Funds [Abstract] | |
Deposits And Borrowed Funds [Text Block] | Note 8: Deposits and Borrowed Funds The following table provides additional detail regarding deposits. Deposits At June 30, 2015 At December 31, 2014 (In thousands) Noninterest-bearing $ 1,930,551 $ 1,910,781 Interest-bearing: Transaction 795,793 792,448 Savings 1,287,859 1,260,819 Time deposits less than $100 thousand 160,953 169,959 Time deposits $100 thousand through $250 thousand 106,183 113,023 Time deposits more than $250 thousand 73,505 102,161 Total deposits $ 4,354,844 $ 4,349,191 Demand deposit overdrafts of $ 3,271 182 379 The following table provides additional detail regarding short-term borrowed funds. Repurchase Agreements (Sweep) At June 30, 2015 At December 31, 2014 Remaining Contractual Maturity of the Agreements Overnight and Continuous Overnight and Continuous Repurchase agreements: (In thousands) Securities of U.S. Government sponsored entities $ 90,336 $ 80,827 Obligations of states and political subdivisions 4,915 14,251 Corporate securities 54,766 52,936 Total collateral carrying value $ 150,017 $ 148,014 Total short-term borrowed funds $ 82,747 $ 89,784 FHLB advances matured and were repaid in full in January 2015. At December 31, 2014, FHLB advances with a carrying value of $20,015 thousand were secured by residential real estate loans and securities of approximately $26,484 thousand. The Company has a $35,000 thousand unsecured line of credit which had no outstanding balance at June 30, 2015 and December 31, 2014. The line of credit has a variable interest rate, which was 2.0 |
Note 9 - Fair Value Measurement
Note 9 - Fair Value Measurements | 6 Months Ended |
Jun. 30, 2015 | |
Fair Value Disclosures [Abstract] | |
Fair Value Disclosures [Text Block] | Note 9: Fair Value Measurements The Company uses fair value measurements to record fair value adjustments to certain assets and liabilities and to determine fair value disclosures. Available for sale investment securities are recorded at fair value on a recurring basis. Additionally, from time to time, the Company may be required to record at fair value other assets on a nonrecurring basis, such as other real estate owned, impaired loans, certain loans held for investment, investment securities held to maturity, and other assets. These nonrecurring fair value adjustments typically involve the lower-of-cost-or-fair value accounting of individual assets. In accordance with the Fair Value Measurement and Disclosure topic of the Codification, the Company bases its fair values on the price that would be received to sell an asset or paid to transfer a liability in the principal market or most advantageous market for an asset or liability in an orderly transaction between market participants on the measurement date under current market conditions. A fair value measurement reflects all of the assumptions that market participants would use in pricing the asset or liability, including assumptions about the risk inherent in a particular valuation technique, the effect of a restriction on the sale or use of an asset, and the risk of nonperformance. The Company groups its assets and liabilities measured at fair value into a three-level hierarchy, based on the markets in which the assets and liabilities are traded and the reliability of the assumptions used to determine fair value. When the valuation assumptions used to measure the fair value of the asset or liability are categorized within different levels of the fair value hierarchy, the asset or liability is categorized in its entirety within the lowest level of the hierarchy. These levels are: Level 1 – Valuation is based upon quoted prices for identical instruments traded in active exchange markets, such as the New York Stock Exchange. Level 1 includes U.S. Treasury and equity securities, which are traded by dealers or brokers in active markets. Valuations are obtained from readily available pricing sources for market transactions involving identical assets or liabilities. Level 2 – Valuation is based upon quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active, and model-based valuation techniques for which all significant assumptions are observable in the market. Level 2 includes federal agency securities, mortgage-backed securities, corporate securities, asset-backed securities, municipal bonds and residential collateralized mortgage obligations. Level 3 – Valuation is generated from model-based techniques that use significant assumptions not observable in the market. These unobservable assumptions reflect the Company’s estimates of assumptions that market participants would use in pricing the asset or liability. Valuation techniques include use of option pricing models, discounted cash flow models and similar techniques. The Company relies on independent vendor pricing services to measure fair value for investment securities available for sale and investment securities held to maturity. The Company employs three pricing services. To validate the pricing of these vendors, the Company compares vendors’ pricing for each of the securities for consistency; significant pricing differences, if any, are evaluated using all available independent quotes with the quote closely affecting the market is generally used as the fair value estimate. In addition, the Company conducts “other than temporary impairment (OTTI)” analysis on a quarterly basis; securities selected for OTTI analysis include all securities at a market price below 95 percent of par value and with a market to book ratio below 95:100. As with any valuation technique used to estimate fair value, changes in underlying assumptions used could significantly affect the results of current and future values. Accordingly, these fair value estimates may not be realized in an actual sale of the securities. The Company regularly reviews the valuation techniques and assumptions used by its vendors and determines which valuation techniques are utilized based on observable market inputs for the type of securities being measured. The Company uses the information to determine the placement in the fair value hierarchy as level 1, 2 or 3. When the Company changes its valuation assumptions for measuring financial assets and financial liabilities at fair value, either due to changes in current market conditions or other factors, or reevaluates the valuation techniques and assumptions used by its vendors, it may need to transfer those assets or liabilities to another level in the hierarchy based on the new information. The Company recognizes these transfers at the end of the reporting period that the transfers occur. During the six months ended June 30, 2015, the Company reevaluated the valuation techniques and assumptions used by its vendors in valuing the Company’s available for sale securities, and based on the evaluation, transferred $437,715 thousand out of level 1 and transferred $437,715 thousand into level 2. There were no transfers into level 1 or into or out of level 3. For the year ended December 31, 2014, there were no transfers into or out of levels 1, 2 or 3. Assets Recorded at Fair Value on a Recurring Basis The table below presents assets measured at fair value on a recurring basis. At June 30, 2015 Fair Value Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs (In thousands) U.S. Treasury securities $ 3,503 $ 3,503 $ - $ - Securities of U.S. Government sponsored entities 431,936 - 431,936 - Residential mortgage-backed securities 22,415 - 22,415 - Commercial mortgage-backed securities 2,632 - 2,632 - Obligations of states and political subdivisions 168,252 - 168,252 - Residential collateralized mortgage obligations 202,750 - 202,750 - Asset-backed securities 2,659 - 2,659 - FHLMC and FNMA stock 5,789 10 5,779 - Corporate securities 792,121 - 792,121 - Other securities 2,821 963 1,858 - Total securities available for sale $ 1,634,878 $ 4,476 $ 1,630,402 $ - At December 31, 2014 Fair Value Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs (In thousands) U.S. Treasury securities $ 3,505 $ 3,505 $ - $ - Securities of U.S. Government sponsored entities 635,188 635,188 - - Residential mortgage-backed securities 26,407 - 26,407 - Commercial mortgage-backed securities 2,919 - 2,919 - Obligations of states and political subdivisions 181,799 - 181,799 - Residential collateralized mortgage obligations 222,457 - 222,457 - Asset-backed securities 8,313 - 8,313 - FHLMC and FNMA stock 5,168 5,168 - - Corporate securities 512,239 - 512,239 - Other securities 2,786 910 1,876 - Total securities available for sale $ 1,600,781 $ 644,771 $ 956,010 $ - Assets Recorded at Fair Value on a Nonrecurring Basis The Company may be required, from time to time, to measure certain assets at fair value on a nonrecurring basis in accordance with GAAP. These adjustments to fair value usually result from application of lower-of-cost or fair-value accounting of individual assets. For assets measured at fair value on a nonrecurring basis that were recorded in the balance sheet at June 30, 2015 and December 31, 2014, the following table provides the level of valuation assumptions used to determine each adjustment and the carrying value of the related assets at period end. For the Six Months Ended At June 30, 2015 June 30, 2015 Fair Value Level 1 Level 2 Level 3 Total Losses (In thousands) Other real estate owned $ 9,260 $ - $ - $ 9,260 $ (243 ) Impaired loans 17,732 - - 17,732 - Total assets measured at fair value on a nonrecurring basis $ 26,992 $ - $ - $ 26,992 $ (243 ) Level 3 – Valuation is based upon independent market prices, estimated liquidation values of loan collateral or appraised value of the collateral as determined by third-party independent appraisers, less 10% for selling costs, generally. Level 3 includes other real estate owned that has been measured at fair value upon transfer to foreclosed assets and impaired loans collateralized by real property and other business asset collateral where a specific reserve has been established or a chargeoff has been recorded. Losses on other real estate owned represent losses recognized in earnings during the period subsequent to its initial classification as foreclosed assets. The unobservable inputs and qualitative information about the unobservable inputs are not presented due to the unavailability from third party evaluators. For the Year Ended At December 31, 2014 December 31, 2014 Fair Value Level 1 Level 2 Level 3 Total Losses (In thousands) Other real estate owned $ 6,374 $ - $ 6,374 $ - $ (358 ) Impaired loans 17,085 - 7,670 9,415 (884 ) Total assets measured at fair value on a nonrecurring basis $ 23,459 $ - $ 14,044 $ 9,415 $ (1,242 ) Level 2 – Valuation is based upon independent market prices or appraised value of the collateral, less 10% for selling costs, generally. Level 2 includes other real estate owned that has been measured at fair value upon transfer to foreclosed assets and impaired loans collateralized by real property where a specific reserve has been established or a chargeoff has been recorded. Losses on other real estate owned represent losses recognized in earnings during the period subsequent to its initial classification as foreclosed assets. Level 3 – Valuation is based upon estimated liquidation values of loan collateral. The value of level 3 assets can also include a component of real estate, which is valued as described for level 2 inputs, when collateral for the impaired loan includes both business assets and real estate. Level 3 includes impaired loans where a specific reserve has been established or a chargeoff has been recorded. Disclosures about Fair Value of Financial Instruments The following section describes the valuation methodologies used by the Company for estimating fair value of financial instruments not recorded at fair value in the balance sheet. Cash and Due from Banks Investment Securities Held to Maturity Loans 30,828 197 7,780 Deposit Liabilities Short-Term Borrowed Funds Federal Home Loan Bank Advances The table below is a summary of fair value estimates for financial instruments and the level of the fair value hierarchy within which the fair value measurements are categorized, excluding financial instruments recorded at fair value on a recurring basis. The values assigned do not necessarily represent amounts which ultimately may be realized for assets or paid to settle liabilities. In addition, these values do not give effect to adjustments to fair value which may occur when financial instruments are sold or settled in larger quantities. The carrying amounts in the following table are recorded in the balance sheet under the indicated captions. The Company has not included assets and liabilities that are not financial instruments, such as goodwill, long-term relationships with deposit, merchant processing and trust customers, other purchased intangibles, premises and equipment, deferred taxes and other assets and liabilities. The total estimated fair values do not represent, and should not be construed to represent, the underlying value of the Company. At June 30, 2015 Carrying Amount Estimated Fair Value Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs Financial Assets: (In thousands) Cash and due from banks $ 289,606 $ 289,606 $ 289,606 $ - $ - Investment securities held to maturity 1,159,581 1,164,603 - 1,164,603 - Loans 1,600,443 1,613,443 - - 1,613,443 Financial Liabilities: Deposits $ 4,354,844 $ 4,354,172 $ - $ 4,014,203 $ 339,969 Short-term borrowed funds 82,747 82,747 - 82,747 - At December 31, 2014 Carrying Amount Estimated Fair Value Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs Financial Assets: (In thousands) Cash and due from banks $ 380,836 $ 380,836 $ 380,836 $ - $ - Investment securities held to maturity 1,038,658 1,048,562 1,077 1,047,485 - Loans 1,668,805 1,685,048 - - 1,685,048 Financial Liabilities: Deposits $ 4,349,191 $ 4,348,958 $ - $ 3,964,048 $ 384,910 Short-term borrowed funds 89,784 89,784 - 89,784 - Federal Home Loan Bank advances 20,015 20,014 20,014 - - - The majority of the Company’s standby letters of credit and other commitments to extend credit carry current market interest rates if converted to loans. No premium or discount was ascribed to these commitments because virtually all funding would be at current market rates. |
Note 10 - Commitments and Conti
Note 10 - Commitments and Contingent Liabilities | 6 Months Ended |
Jun. 30, 2015 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies Disclosure [Text Block] | Note 10: Commitments and Contingent Liabilities Loan commitments are agreements to lend to a customer provided there is no violation of any condition established in the agreement. Commitments generally have fixed expiration dates or other termination clauses. Since many of the commitments are expected to expire without being drawn upon, the total commitment amounts do not necessarily represent future funding requirements. Loan commitments are subject to the Company’s normal credit policies and collateral requirements. Unfunded loan commitments were $ 304,499 26,969 40 Due to the nature of its business, the Company is subject to various threatened or filed legal cases. Based on the advice of legal counsel, the Company does not expect such cases will have a material, adverse effect on its financial position or results of operations. Legal liabilities are accrued when obligations become probable and the amount is reasonably estimable. |
Note 11 - Earnings Per Common S
Note 11 - Earnings Per Common Share | 6 Months Ended |
Jun. 30, 2015 | |
Earnings Per Share [Abstract] | |
Earnings Per Share [Text Block] | Note 11: Earnings Per Common Share The table below shows earnings per common share and diluted earnings per common share. Basic earnings per common share are computed by dividing net income by the average number of common shares outstanding during the period. Diluted earnings per common share are computed by dividing net income by the average number of common shares outstanding during the period plus the impact of common stock equivalents. For the Three Months For the Six Months Ended June 30, 2015 2014 2015 2014 (In thousands, except per share data) Net income applicable to common equity (numerator) $ 14,761 $ 15,157 $ 29,318 $ 30,464 Basic earnings per common share Weighted average number of common shares outstanding - basic (denominator) 25,514 26,175 25,582 26,303 Basic earnings per common share $ 0.58 $ 0.58 $ 1.15 $ 1.16 Diluted earnings per common share Weighted average number of common shares outstanding - basic 25,514 26,175 25,582 26,303 Add common stock equivalents for options 22 63 13 84 Weighted average number of common shares outstanding - diluted (denominator) 25,536 26,238 25,595 26,387 Diluted earnings per common share $ 0.58 $ 0.58 $ 1.15 $ 1.15 For the three and six months ended June 30, 2015, options to purchase 1,376 1,575 For the three and six months ended June 30, 2014, options to purchase 1,050 929 |
Accounting Policies, by Policy
Accounting Policies, by Policy (Policies) | 6 Months Ended |
Jun. 30, 2015 | |
Accounting Policies [Abstract] | |
New Accounting Pronouncements, Policy [Policy Text Block] | Recently Adopted Accounting Standards FASB ASU 2014-01 Investments- Equity Method and Joint Ventures (Topic 323): Accounting for Investments in Qualified Affordable Housing Projects The update also requires a reporting entity to disclose information regarding its investments in qualified affordable housing projects, and the effect of the measurement of its investments in qualified affordable housing projects and the related tax credits on its financial position and results of operations. The adoption of the update was limited to additional disclosures only and did not have a material effect on the Company’s financial statements at January 1, 2015, the date adopted. FASB ASU 2014-04, Re - Troubled Debt Restructurings by Creditors (Subtopic 310-40): Reclassification of Residential Real Estate Collateralized Consumer Mortgage Loans upon Foreclosure, The adoption of the update was limited to additional disclosures only and did not have a material effect on the Company’s financial statements at January 1, 2015, the date adopted. FASB ASU 2014-11 Transfers and Servicing (Topic 860): Repurchase-to-Maturity Transactions, Repurchase Financings, and Disclosures, . The adoption of the update was limited to additional disclosures only and did not have a material effect on the Company’s financial statements at April 1, 2015, the date adopted. |
Note 3 - Investment Securities
Note 3 - Investment Securities (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Investments, Debt and Equity Securities [Abstract] | |
Schedule of Available-for-sale Securities Reconciliation [Table Text Block] | Investment Securities Available for Sale Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (In thousands) U.S. Treasury securities $ 3,500 $ 3 $ - $ 3,503 Securities of U.S. Government sponsored entities 431,800 675 (539 ) 431,936 Residential mortgage-backed securities 20,955 1,468 (8 ) 22,415 Commercial mortgage-backed securities 2,638 4 (10 ) 2,632 Obligations of states and political subdivisions 159,738 8,670 (156 ) 168,252 Residential collateralized mortgage obligations 209,448 537 (7,235 ) 202,750 Asset-backed securities 2,672 - (13 ) 2,659 FHLMC 1 2 775 5,014 - 5,789 Corporate securities 794,276 1,829 (3,984 ) 792,121 Other securities 2,039 924 (142 ) 2,821 Total $ 1,627,841 $ 19,124 $ (12,087 ) $ 1,634,878 Investment Securities Available for Sale Amortized Cost Gross Gross Fair Value (In thousands) U.S. Treasury securities $ 3,500 $ 5 $ - $ 3,505 Securities of U.S. Government sponsored entities 635,278 937 (1,027 ) 635,188 Residential mortgage-backed securities 24,647 1,776 (16 ) 26,407 Commercial mortgage-backed securities 2,923 6 (10 ) 2,919 Obligations of states and political subdivisions 171,907 10,015 (123 ) 181,799 Residential collateralized mortgage obligations 230,347 634 (8,524 ) 222,457 Asset-backed securities 8,349 - (36 ) 8,313 FHLMC 1 2 775 4,393 - 5,168 Corporate securities 511,699 2,169 (1,629 ) 512,239 Other securities 2,039 871 (124 ) 2,786 Total $ 1,591,464 $ 20,806 $ (11,489 ) $ 1,600,781 |
Schedule of Held to Maturity Securities Reconciliation [Table Text Block] | Investment Securities Held to Maturity Amortized Cost Gross Gross Fair Value (In thousands) Securities of U.S. government sponsored entities $ 912 $ 7 $ - $ 919 Residential mortgage-backed securities 220,364 949 (775 ) 220,538 Commercial mortgage-backed securities 16,498 43 (148 ) 16,393 Obligations of states and political subdivisions 692,585 8,629 (3,720 ) 697,494 Residential collateralized mortgage obligations 229,222 1,880 (1,843 ) 229,259 Total $ 1,159,581 $ 11,508 $ (6,486 ) $ 1,164,603 Investment Securities Held to Maturity Amortized Cost Gross Gross Fair Value (In thousands) Securities of U.S. government sponsored entities $ 1,066 $ 11 $ - $ 1,077 Residential mortgage-backed securities 59,078 1,183 (137 ) 60,124 Obligations of states and political subdivisions 720,189 11,350 (2,358 ) 729,181 Residential collateralized mortgage obligations 258,325 2,236 (2,381 ) 258,180 Total $ 1,038,658 $ 14,780 $ (4,876 ) $ 1,048,562 |
Investments Classified by Contractual Maturity Date [Table Text Block] | At June 30, 2015 Securities Available Securities Held Amortized Fair Amortized Fair (In thousands) Maturity in years: 1 year or less $ 99,091 $ 99,319 $ 13,500 $ 14,053 Over 1 to 5 years 1,095,152 1,094,069 239,801 241,670 Over 5 to 10 years 155,190 159,881 266,989 269,180 Over 10 years 42,553 45,202 173,207 173,510 Subtotal 1,391,986 1,398,471 693,497 698,413 Mortgage-backed securities and residential collateralized mortgage obligations 233,041 227,797 466,084 466,190 Other securities 2,814 8,610 - - Total $ 1,627,841 $ 1,634,878 $ 1,159,581 $ 1,164,603 At December 31, 2014 Securities Available Securities Held Amortized Fair Amortized Fair (In thousands) Maturity in years: 1 year or less $ 57,891 $ 57,991 $ 15,355 $ 15,855 Over 1 to 5 years 629,200 630,797 228,380 230,248 Over 5 to 10 years 584,872 589,250 285,219 288,631 Over 10 years 58,770 63,006 192,301 195,524 Subtotal 1,330,733 1,341,044 721,255 730,258 Mortgage-backed securities and residential collateralized mortgage obligations 257,917 251,783 317,403 318,304 Other securities 2,814 7,954 - - Total $ 1,591,464 $ 1,600,781 $ 1,038,658 $ 1,048,562 |
Schedule of Unrealized Loss on Investments [Table Text Block] | Investment Securities Available for Sale No. of Less than 12 months No. of 12 months or longer No. of Total Investment Fair Unrealized Investment Fair Unrealized Investment Fair Unrealized Positions Value Losses Positions Value Losses Positions Value Losses ($ in thousands) Securities of U.S. Government sponsored entities 16 $ 138,060 $ (517 ) 1 $ 9,978 $ (22 ) 17 $ 148,038 $ (539 ) Residential mortgage-backed securities - - - 1 795 (8 ) 1 795 (8 ) Commercial mortgage-backed securities 1 900 (7 ) 1 609 (3 ) 2 1,509 (10 ) Obligations of states and political subdivisions 6 2,826 (41 ) 11 3,824 (115 ) 17 6,650 (156 ) Residential collateralized mortgage obligations 2 14,061 (326 ) 29 174,725 (6,909 ) 31 188,786 (7,235 ) Asset-backed securities - - - 1 2,659 (13 ) 1 2,659 (13 ) Corporate securities 83 405,109 (3,417 ) 13 43,809 (567 ) 96 448,918 (3,984 ) Other securities - - - 1 1,858 (142 ) 1 1,858 (142 ) Total 108 $ 560,956 $ (4,308 ) 58 $ 238,257 $ (7,779 ) 166 $ 799,213 $ (12,087 ) Investment Securities Held to Maturity No. of Less than 12 months No. of 12 months or longer No. of Total Investment Unrecognized Investment Unrecognized Investment Unrecognized Positions Fair Value Losses Positions Fair Value Losses Positions Fair Value Losses ($ in thousands) Residential mortgage- backed securities 11 $ 176,217 $ (772 ) 1 $ 128 $ (3 ) 12 $ 176,345 $ (775 ) Commercial mortgage-backed securities 2 14,290 (148 ) - - - 2 14,290 (148 ) Obligations of states and political subdivisions 200 169,949 (1,441 ) 81 69,233 (2,279 ) 281 239,182 (3,720 ) Residential collateralized mortgage obligations 15 58,640 (388 ) 14 79,005 (1,455 ) 29 137,645 (1,843 ) Total 228 $ 419,096 $ (2,749 ) 96 $ 148,366 $ (3,737 ) 324 $ 567,462 $ (6,486 ) Investment Securities Available for Sale No. of Less than 12 months No. of 12 months or longer No. of Total Investment Fair Unrealized Investment Fair Unrealized Investment Fair Unrealized Positions Value Losses Positions Value Losses Positions Value Losses ($ in thousands) Securities of U.S. Government sponsored entities 15 $ 253,632 $ (989 ) 1 $ 9,963 $ (38 ) 16 $ 263,595 $ (1,027 ) Residential mortgage-backed securities - - - 2 822 (16 ) 2 822 (16 ) Commercial mortgage-backed securities 1 942 (7 ) 1 803 (3 ) 2 1,745 (10 ) Obligations of states and political subdivisions 7 2,548 (18 ) 17 5,518 (105 ) 24 8,066 (123 ) Residential collateralized mortgage obligations - - - 32 205,074 (8,524 ) 32 205,074 (8,524 ) Asset-backed securities 1 5,008 (7 ) 1 3,305 (29 ) 2 8,313 (36 ) Corporate securities 53 165,026 (1,304 ) 5 34,222 (325 ) 58 199,248 (1,629 ) Other securities - - - 1 1,876 (124 ) 1 1,876 (124 ) Total 77 $ 427,156 $ (2,325 ) 60 $ 261,583 $ (9,164 ) 137 $ 688,739 $ (11,489 ) Investment Securities Held to Maturity No. of Less than 12 months No. of 12 months or longer No. of Total Investment Fair Unrecognized Investment Fair Unrecognized Investment Fair Unrecognized Positions Value Losses Positions Value Losses Positions Value Losses ($ in thousands) Residential mortgage-backed securities 4 $ 19,467 $ (132 ) 1 $ 201 $ (5 ) 5 $ 19,668 $ (137 ) Obligations of states and political subdivisions 103 76,202 (439 ) 138 123,370 (1,919 ) 241 199,572 (2,358 ) Residential collateralized mortgage obligations 5 13,932 (166 ) 22 119,513 (2,215 ) 27 133,445 (2,381 ) Total 112 $ 109,601 $ (737 ) 161 $ 243,084 $ (4,139 ) 273 $ 352,685 $ (4,876 ) |
Interest Income from Investments [Table Text Block] | For the Three Months For the Six Months Ended June 30, 2015 2014 2015 2014 (In thousands) Taxable $ 8,393 $ 5,876 $ 15,946 $ 11,559 Tax-exempt 5,997 6,740 12,131 13,720 Total interest income from investment securities $ 14,390 $ 12,616 $ 28,077 $ 25,279 |
Note 4 - Loans and Allowance 21
Note 4 - Loans and Allowance for Credit Losses (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Loans And Allowance For Credit Losses [Abstract] | |
Schedule of Loans Receivable [Table Text Block] | At June 30, 2015 Commercial Commercial Real Estate Construction Residential Real Estate Consumer Total (In thousands) Originated loans $ 370,997 $ 548,610 $ 6,762 $ 134,421 $ 364,257 $ 1,425,047 Purchased covered loans: Gross purchased covered loans - - - 2,520 12,786 15,306 Purchased loan discount - - - (133 ) (64 ) (197 ) Purchased non-covered loans: Gross purchased non-covered loans 16,292 143,722 995 706 37,180 198,895 Purchased loan discount (1,168 ) (5,089 ) - (262 ) (1,261 ) (7,780 ) Total $ 386,121 $ 687,243 $ 7,757 $ 137,252 $ 412,898 $ 1,631,271 At December 31, 2014 Commercial Commercial Construction Residential Consumer Total (In thousands) Originated loans $ 374,005 $ 567,594 $ 11,003 $ 146,925 $ 370,842 $ 1,470,369 Purchased covered loans: Gross purchased covered loans - - - 2,626 14,920 17,546 Purchased loan discount - - - (434 ) (34 ) (468 ) Purchased non-covered loans: Gross purchased non-covered loans 19,166 157,502 2,919 972 41,656 222,215 Purchased loan discount (1,356 ) (6,492 ) (50 ) (262 ) (1,212 ) (9,372 ) Total $ 391,815 $ 718,604 $ 13,872 $ 149,827 $ 426,172 $ 1,700,290 |
Impaired Purchased Loans Roll Forward [Table Text Block] | For the For the Year Ended Impaired purchased loans (In thousands) Carrying amount at the beginning of the period $ 4,672 $ 4,936 Reductions during the period (32 ) (264 ) Carrying amount at the end of the period $ 4,640 $ 4,672 |
Accretable Yield Reconciliation Schedule [Table Text Block] | For the For the Accretable yield: (In thousands) Balance at the beginning of the period $ 2,261 $ 2,505 Reclassification from nonaccretable difference 1,365 5,016 Accretion (1,835 ) (5,260 ) Balance at the end of the period $ 1,791 $ 2,261 Accretion $ (1,835 ) $ (5,260 ) Change in FDIC indemnification 230 1,110 (Increase) in interest income $ (1,605 ) $ (4,150 ) |
Schedule of Credit Losses Related to Financing Receivables, Current and Noncurrent [Table Text Block] | Allowance for Loan Losses Commercial Commercial Real Estate Construction Residential Real Estate Consumer Purchased Purchased Unallocated Total (In thousands) Allowance for loan losses: Balance at beginning of period $ 5,470 $ 4,123 $ 730 $ 2,140 $ 7,031 $ 2,339 $ - $ 9,354 $ 31,187 Additions: Provision 1,704 758 (327 ) (82 ) 350 (921 ) - (1,482 ) - Deductions: Chargeoffs (401 ) - - - (576 ) (396 ) - - (1,373 ) Recoveries 334 15 - - 443 222 - - 1,014 Net loan (losses) recoveries (67 ) 15 - - (133 ) (174 ) - - (359 ) Total allowance for loan losses $ 7,107 $ 4,896 $ 403 $ 2,058 $ 7,248 $ 1,244 $ - $ 7,872 $ 30,828 Allowance for Loan Losses Commercial Commercial Real Estate Construction Residential Real Estate Consumer Purchased Purchased Unallocated Total (In thousands) Allowance for loan losses: Balance at beginning of period $ 5,460 $ 4,245 $ 644 $ 2,241 $ 7,717 $ 2,120 $ - $ 9,058 $ 31,485 Additions: Provision 1,594 621 (241 ) (183 ) 69 (674 ) - (1,186 ) - Deductions: Chargeoffs (461 ) - - - (1,571 ) (431 ) - - (2,463 ) Recoveries 514 30 - - 1,033 229 - - 1,806 Net loan recoveries (losses) 53 30 - - (538 ) (202 ) - - (657 ) Total allowance for loan losses $ 7,107 $ 4,896 $ 403 $ 2,058 $ 7,248 $ 1,244 $ - $ 7,872 $ 30,828 Allowance for Credit Losses Commercial Commercial Real Estate Construction Residential Real Estate Consumer Purchased Purchased Unallocated Total (In thousands) Allowance for loan losses: Balance at beginning of period $ 4,243 $ 11,259 $ 445 $ 491 $ 2,813 $ 2,574 $ - $ 10,284 $ 32,109 Additions: Provision 1,085 (610 ) (3 ) (52 ) (75 ) 115 - 540 1,000 Deductions: Chargeoffs (150 ) - - (30 ) (1,301 ) - - - (1,481 ) Recoveries 119 15 - - 618 18 - - 770 Net loan (losses) recoveries (31 ) 15 - (30 ) (683 ) 18 - - (711 ) Balance at end of period 5,297 10,664 442 409 2,055 2,707 - 10,824 32,398 Liability for off-balance sheet credit exposure 1,733 24 165 - 465 243 23 40 2,693 Total allowance for credit losses $ 7,030 $ 10,688 $ 607 $ 409 $ 2,520 $ 2,950 $ 23 $ 10,864 $ 35,091 Allowance for Credit Losses Commercial Commercial Construction Residential Consumer Purchased Purchased Unallocated Total (In thousands) Allowance for loan losses: Balance at beginning of period $ 4,005 $ 12,070 $ 602 $ 405 $ 3,198 $ - $ 1,561 $ 9,852 $ 31,693 Additions: Provision 1,215 (1,584 ) (163 ) 34 139 1,387 - 972 2,000 Deductions: Chargeoffs (210 ) - - (30 ) (2,300 ) (260 ) - - (2,800 ) Recoveries 287 178 3 - 1,018 19 - - 1,505 Net loan recoveries (losses) 77 178 3 (30 ) (1,282 ) (241 ) - - (1,295 ) Indemnification expiration - - - - - 1,561 (1,561 ) - - Balance at end of period 5,297 10,664 442 409 2,055 2,707 - 10,824 32,398 Liability for off-balance sheet credit exposure 1,733 24 165 - 465 243 23 40 2,693 Total allowance for credit losses $ 7,030 $ 10,688 $ 607 $ 409 $ 2,520 $ 2,950 $ 23 $ 10,864 $ 35,091 |
Schedule of Recorded Investment in Loans Evaluated for Impairment [Table Text Block] | Allowance for Loan Losses and Recorded Investment in Loans Evaluated for Impairment Commercial Commercial Real Estate Construction Residential Real Estate Consumer Installment and Other Purchased Non-covered Loans Purchased Covered Loans Unallocated Total (In thousands) Allowance for loan losses: Individually evaluated for impairment $ 2,533 $ 1,034 $ - $ - $ - $ - $ - $ - $ 3,567 Collectively evaluated for impairment 4,574 3,862 403 2,058 7,248 1,244 - 7,872 27,261 Purchased loans with evidence of credit deterioration - - - - - - - - - Total $ 7,107 $ 4,896 $ 403 $ 2,058 $ 7,248 $ 1,244 $ - $ 7,872 $ 30,828 Carrying value of loans: Individually evaluated for impairment $ 12,417 $ 5,806 $ - $ - $ - $ 11,712 $ - $ - $ 29,935 Collectively evaluated for impairment 358,580 542,804 6,762 134,421 364,257 174,980 14,892 - 1,596,696 Purchased loans with evidence of credit deterioration - - - - - 4,423 217 - 4,640 Total $ 370,997 $ 548,610 $ 6,762 $ 134,421 $ 364,257 $ 191,115 $ 15,109 $ - $ 1,631,271 Allowance for Credit Losses and Recorded Investment in Loans Evaluated for Impairment Commercial Commercial Real Estate Construction Residential Real Estate Consumer Installment and Other Purchased Non-covered Loans Purchased Covered Loans Unallocated Total (In thousands) Allowance for credit losses: Individually evaluated for impairment $ 496 $ - $ - $ - $ - $ - $ - $ - $ 496 Collectively evaluated for impairment 7,372 4,245 988 2,241 8,154 2,120 - 8,562 33,682 Purchased loans with evidence of credit deterioration - - - - - - - - - Total $ 7,868 $ 4,245 $ 988 $ 2,241 $ 8,154 $ 2,120 $ - $ 8,562 $ 34,178 Carrying value of loans: Individually evaluated for impairment $ 11,811 $ 2,970 $ - $ 574 $ 599 $ 12,364 $ - $ - $ 28,318 Collectively evaluated for impairment 362,194 564,624 11,003 146,351 370,243 196,034 16,851 - 1,667,300 Purchased loans with evidence of credit deterioration - - - - - 4,445 227 - 4,672 Total $ 374,005 $ 567,594 $ 11,003 $ 146,925 $ 370,842 $ 212,843 $ 17,078 $ - $ 1,700,290 |
Financing Receivable Credit Quality Indicators [Table Text Block] | Credit Risk Profile by Internally Assigned Grade Commercial Commercial Real Estate Construction Residential Real Estate Consumer Installment and Other Purchased Non-covered Loans Purchased Covered Loans (1) Total (In thousands) Grade: Pass $ 354,025 $ 518,410 $ 6,762 $ 132,116 $ 363,193 $ 161,919 $ 13,621 $ 1,550,046 Substandard 16,961 30,200 - 2,305 812 36,902 1,685 88,865 Doubtful 11 - - - 9 74 - 94 Loss - - - - 243 - - 243 Purchased loan discount - - - - - (7,780 ) (197 ) (7,977 ) Total $ 370,997 $ 548,610 $ 6,762 $ 134,421 $ 364,257 $ 191,115 $ 15,109 $ 1,631,271 Credit Risk Profile by Internally Assigned Grade Commercial Commercial Real Estate Construction Residential Real Estate Consumer Installment and Other Purchased Non-covered Loans Purchased Covered Loans (1) Total (In thousands) Grade: Pass $ 366,487 $ 527,980 $ 11,003 $ 144,902 $ 369,618 $ 182,644 $ 15,509 $ 1,618,143 Substandard 7,506 39,614 - 2,023 734 39,473 2,037 91,387 Doubtful 12 - - - 12 77 - 101 Loss - - - - 478 21 - 499 Purchased loan discount - - - - - (9,372 ) (468 ) (9,840 ) Total $ 374,005 $ 567,594 $ 11,003 $ 146,925 $ 370,842 $ 212,843 $ 17,078 $ 1,700,290 |
Past Due Financing Receivables [Table Text Block] | Summary of Loans by Delinquency and Nonaccrual Status Current and Accruing 30-59 Days Past Due and Accruing 60-89 Days Past Due and Accruing Past Due 90 days or More and Accruing Nonaccrual Total Loans (In thousands) Commercial $ 367,250 $ 3,053 $ 533 $ - $ 161 $ 370,997 Commercial real estate 534,629 6,554 1,308 - 6,119 548,610 Construction 6,762 - - - - 6,762 Residential real estate 132,049 2,044 328 - - 134,421 Consumer installment and other 360,943 2,617 476 221 - 364,257 Total originated loans 1,401,633 14,268 2,645 221 6,280 1,425,047 Purchased non-covered loans 177,690 2,401 1,082 - 9,942 191,115 Purchased covered loans 15,076 30 - - 3 15,109 Total $ 1,594,399 $ 16,699 $ 3,727 $ 221 $ 16,225 $ 1,631,271 Summary of Loans by Delinquency and Nonaccrual Status Current and Accruing 30-59 Days Past Due and Accruing 60-89 Days Past Due and Accruing Past Due 90 days or More and Accruing Nonaccrual Total Loans (In thousands) Commercial $ 372,235 $ 1,704 $ 36 $ - $ 30 $ 374,005 Commercial real estate 557,041 6,500 - - 4,053 567,594 Construction 11,003 - - - - 11,003 Residential real estate 144,021 1,513 817 - 574 146,925 Consumer installment and other 365,753 3,310 625 502 652 370,842 Total originated loans 1,450,053 13,027 1,478 502 5,309 1,470,369 Purchased non-covered loans 196,150 4,204 491 - 11,998 212,843 Purchased covered loans 16,389 389 3 - 297 17,078 Total $ 1,662,592 $ 17,620 $ 1,972 $ 502 $ 17,604 $ 1,700,290 |
Effect Of Nonaccrual Loans On Interest Income [Table Text Block] | For the Three Months For the Six Months Ended June 30, 2015 2014 2015 2014 (In thousands) Interest income that would have been recognized had the loans performed in accordance with their original terms $ 342 $ 276 $ 654 $ 534 Less: Interest income recognized on nonaccrual loans (118 ) (25 ) (324 ) (69 ) Total reduction of interest income $ 224 $ 251 $ 330 $ 465 |
Impaired Financing Receivables [Table Text Block] | Impaired Loans Recorded Investment Unpaid Related Allowance (In thousands) Impaired loans with no related allowance recorded: Commercial $ 2,756 $ 2,821 $ - Commercial real estate 17,161 22,374 - Construction - - - Residential real estate 240 270 - Consumer installment and other 664 711 - Impaired loans with an allowance recorded: Commercial 9,860 9,860 2,533 Commercial real estate 5,109 5,109 1,034 Construction - - - Residential real estate - - - Consumer installment and other - - - Total: Commercial $ 12,616 $ 12,681 $ 2,533 Commercial real estate 22,270 27,483 1,034 Construction - - - Residential real estate 240 270 - Consumer installment and other 664 711 - Impaired Loans Recorded Investment Unpaid Related Allowance (In thousands) Impaired loans with no related allowance recorded: Commercial $ 2,031 $ 2,095 $ - Commercial real estate 19,478 25,519 - Construction 1,834 1,884 - Residential real estate 574 574 - Consumer installment and other 1,518 1,628 - Impaired loans with an allowance recorded: Commercial 9,910 9,910 496 Commercial real estate - - - Construction - - - Residential real estate - - - Consumer installment and other - - - Total: Commercial $ 11,941 $ 12,005 $ 496 Commercial real estate 19,478 25,519 - Construction 1,834 1,884 - Residential real estate 574 574 - Consumer installment and other 1,518 1,628 - |
Impaired Financing Receivables Supplemental Schedule [Table Text Block] | Impaired Loans For the Three Months Ended June 30, For the Six Months Ended June 30, 2015 2014 2015 2014 Average Recognized Average Recognized Average Recognized Average Recognized (In thousands) Commercial $ 12,564 $ 147 $ 4,437 $ 60 $ 12,395 $ 293 $ 4,639 $ 127 Commercial real estate 19,715 147 19,800 153 19,017 404 19,549 270 Construction - - 2,035 - 459 - 2,147 - Residential real estate 693 8 162 - 776 14 162 - Consumer installment and other 797 7 1,324 7 1,026 13 1,520 15 Total $ 33,769 $ 309 $ 27,758 $ 220 $ 33,673 $ 724 $ 28,017 $ 412 |
Troubled Debt Restructurings on Financing Receivables [Table Text Block] | Troubled Debt Restructurings Number of Contracts Pre-Modification Carrying Value Period-End Carrying Value Period-End (In thousands) Commercial 6 $ 2,813 $ 2,557 $ - Commercial real estate 6 3,975 3,797 - Residential real estate 1 241 237 - Consumer installment and other 1 18 3 - Total 14 $ 7,047 $ 6,594 $ - Troubled Debt Restructurings Number of Pre-Modification Period-End Period-End (In thousands) Commercial 4 $ 3,299 $ 2,992 $ 262 Commercial real estate 2 2,291 2,326 - Consumer installment and other 1 18 14 - Total 7 $ 5,608 $ 5,332 $ 262 |
Note 6 - Other Assets (Tables)
Note 6 - Other Assets (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Disclosure Text Block Supplement [Abstract] | |
Schedule of Other Assets [Table Text Block] | At June 30, At December 31, (In thousands) Cost method equity investments: Federal Reserve Bank stock (1) $ 14,069 $ 14,069 Federal Home Loan Bank stock (2) - 940 Other investments 201 241 Total cost method equity investments 14,270 15,250 Life insurance cash surrender value 47,717 46,479 Net deferred tax asset 50,669 50,903 Limited partnership investments 16,695 18,673 Interest receivable 19,340 19,394 Prepaid assets 5,195 5,609 Other assets 11,627 10,150 Total other assets $ 165,513 $ 166,458 |
Schedule of Amounts Recognized in Net Income [Table Text Block] | For the Three Months For the Six Months Ended June 30, 2015 2014 2015 2014 (In thousands) Investment loss included in pre-tax income $ 750 $ 750 $ 1,425 $ 1,450 Tax credits recognized in provision for income taxes 658 771 1,316 1,542 |
Note 7 - Goodwill and Identif23
Note 7 - Goodwill and Identifiable Intangible Assets (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Schedule of Goodwill [Table Text Block] | At June 30, At December 31, 2015 2014 (In thousands) Goodwill $ 121,673 $ 121,673 |
Schedule of Finite-Lived Intangible Assets [Table Text Block] | At June 30, 2015 At December 31, 2014 Gross Accumulated Amortization Gross Accumulated Amortization (In thousands) Core Deposit Intangibles $ 56,808 $ (45,008 ) $ 56,808 $ (43,188 ) Merchant Draft Processing Intangible 10,300 (9,769 ) 10,300 (9,633 ) Total Identifiable Intangible Assets $ 67,108 $ (54,777 ) $ 67,108 $ (52,821 ) |
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block] | Core Merchant Total (In thousands) Six months ended June 30, 2015 (actual) $ 1,820 $ 136 $ 1,956 Estimate for year ended December 31, 2015 3,594 262 3,856 2016 3,292 212 3,504 2017 2,913 164 3,077 2018 1,892 29 1,921 2019 538 - 538 2020 287 - 287 |
Note 8 - Deposits and Borrowe24
Note 8 - Deposits and Borrowed Funds (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Deposits And Borrowed Funds [Abstract] | |
Deposits [Table Text Block] | Deposits At June 30, 2015 At December 31, 2014 (In thousands) Noninterest-bearing $ 1,930,551 $ 1,910,781 Interest-bearing: Transaction 795,793 792,448 Savings 1,287,859 1,260,819 Time deposits less than $100 thousand 160,953 169,959 Time deposits $100 thousand through $250 thousand 106,183 113,023 Time deposits more than $250 thousand 73,505 102,161 Total deposits $ 4,354,844 $ 4,349,191 |
Schedule of Repurchase Agreements [Table Text Block] | Repurchase Agreements (Sweep) At June 30, 2015 At December 31, 2014 Remaining Contractual Maturity of the Agreements Overnight and Continuous Overnight and Continuous Repurchase agreements: (In thousands) Securities of U.S. Government sponsored entities $ 90,336 $ 80,827 Obligations of states and political subdivisions 4,915 14,251 Corporate securities 54,766 52,936 Total collateral carrying value $ 150,017 $ 148,014 Total short-term borrowed funds $ 82,747 $ 89,784 |
Note 9 - Fair Value Measureme25
Note 9 - Fair Value Measurements (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Fair Value Disclosures [Abstract] | |
Fair Value, Assets Measured on Recurring Basis [Table Text Block] | At June 30, 2015 Fair Value Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs (In thousands) U.S. Treasury securities $ 3,503 $ 3,503 $ - $ - Securities of U.S. Government sponsored entities 431,936 - 431,936 - Residential mortgage-backed securities 22,415 - 22,415 - Commercial mortgage-backed securities 2,632 - 2,632 - Obligations of states and political subdivisions 168,252 - 168,252 - Residential collateralized mortgage obligations 202,750 - 202,750 - Asset-backed securities 2,659 - 2,659 - FHLMC and FNMA stock 5,789 10 5,779 - Corporate securities 792,121 - 792,121 - Other securities 2,821 963 1,858 - Total securities available for sale $ 1,634,878 $ 4,476 $ 1,630,402 $ - At December 31, 2014 Fair Value Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs (In thousands) U.S. Treasury securities $ 3,505 $ 3,505 $ - $ - Securities of U.S. Government sponsored entities 635,188 635,188 - - Residential mortgage-backed securities 26,407 - 26,407 - Commercial mortgage-backed securities 2,919 - 2,919 - Obligations of states and political subdivisions 181,799 - 181,799 - Residential collateralized mortgage obligations 222,457 - 222,457 - Asset-backed securities 8,313 - 8,313 - FHLMC and FNMA stock 5,168 5,168 - - Corporate securities 512,239 - 512,239 - Other securities 2,786 910 1,876 - Total securities available for sale $ 1,600,781 $ 644,771 $ 956,010 $ - |
Fair Value Measurements, Nonrecurring [Table Text Block] | For the Six Months Ended At June 30, 2015 June 30, 2015 Fair Value Level 1 Level 2 Level 3 Total Losses (In thousands) Other real estate owned $ 9,260 $ - $ - $ 9,260 $ (243 ) Impaired loans 17,732 - - 17,732 - Total assets measured at fair value on a nonrecurring basis $ 26,992 $ - $ - $ 26,992 $ (243 ) For the Year Ended At December 31, 2014 December 31, 2014 Fair Value Level 1 Level 2 Level 3 Total Losses (In thousands) Other real estate owned $ 6,374 $ - $ 6,374 $ - $ (358 ) Impaired loans 17,085 - 7,670 9,415 (884 ) Total assets measured at fair value on a nonrecurring basis $ 23,459 $ - $ 14,044 $ 9,415 $ (1,242 ) |
Fair Value, by Balance Sheet Grouping [Table Text Block] | At June 30, 2015 Carrying Amount Estimated Fair Value Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs Financial Assets: (In thousands) Cash and due from banks $ 289,606 $ 289,606 $ 289,606 $ - $ - Investment securities held to maturity 1,159,581 1,164,603 - 1,164,603 - Loans 1,600,443 1,613,443 - - 1,613,443 Financial Liabilities: Deposits $ 4,354,844 $ 4,354,172 $ - $ 4,014,203 $ 339,969 Short-term borrowed funds 82,747 82,747 - 82,747 - At December 31, 2014 Carrying Amount Estimated Fair Value Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs Financial Assets: (In thousands) Cash and due from banks $ 380,836 $ 380,836 $ 380,836 $ - $ - Investment securities held to maturity 1,038,658 1,048,562 1,077 1,047,485 - Loans 1,668,805 1,685,048 - - 1,685,048 Financial Liabilities: Deposits $ 4,349,191 $ 4,348,958 $ - $ 3,964,048 $ 384,910 Short-term borrowed funds 89,784 89,784 - 89,784 - Federal Home Loan Bank advances 20,015 20,014 20,014 - - - |
Note 11 - Earnings Per Common26
Note 11 - Earnings Per Common Share (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Earnings Per Share [Abstract] | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | For the Three Months For the Six Months Ended June 30, 2015 2014 2015 2014 (In thousands, except per share data) Net income applicable to common equity (numerator) $ 14,761 $ 15,157 $ 29,318 $ 30,464 Basic earnings per common share Weighted average number of common shares outstanding - basic (denominator) 25,514 26,175 25,582 26,303 Basic earnings per common share $ 0.58 $ 0.58 $ 1.15 $ 1.16 Diluted earnings per common share Weighted average number of common shares outstanding - basic 25,514 26,175 25,582 26,303 Add common stock equivalents for options 22 63 13 84 Weighted average number of common shares outstanding - diluted (denominator) 25,536 26,238 25,595 26,387 Diluted earnings per common share $ 0.58 $ 0.58 $ 1.15 $ 1.15 |
Note 3 - Investment Securitie27
Note 3 - Investment Securities (Details) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Note 3 - Investment Securities (Details) [Line Items] | ||
Available-for-sale Securities, Debt Maturities, Year Two Through Five, Fair Value | $ 1,094,069 | $ 630,797 |
Pledged Financial Instruments, Not Separately Reported, Securities | 758,847 | $ 757,623 |
Call Option [Member] | US Government-sponsored Enterprises Debt Securities [Member] | ||
Note 3 - Investment Securities (Details) [Line Items] | ||
Available-for-sale Securities, Debt Maturities, Year Two Through Five, Fair Value | 385,723 | |
Call Option [Member] | US Government-sponsored Enterprises Debt Securities [Member] | Interest Coupons [Member] | ||
Note 3 - Investment Securities (Details) [Line Items] | ||
Available-for-sale Securities, Debt Maturities, Year Two Through Five, Fair Value | $ 118,469 |
Note 3 - Investment Securitie28
Note 3 - Investment Securities (Details) - Amortized Cost, Unrealized Gains and Losses, and Estimated Fair Value of Available for Sale Investment Securities Portfolio - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 | |
Note 3 - Investment Securities (Details) - Amortized Cost, Unrealized Gains and Losses, and Estimated Fair Value of Available for Sale Investment Securities Portfolio [Line Items] | |||
Amortized Cost | $ 1,627,841 | $ 1,591,464 | |
Gross Unrealized Gains | 19,124 | 20,806 | |
Gross Unrealized Losses | (12,087) | (11,489) | |
Fair Value | 1,634,878 | 1,600,781 | |
US Treasury Securities [Member] | |||
Note 3 - Investment Securities (Details) - Amortized Cost, Unrealized Gains and Losses, and Estimated Fair Value of Available for Sale Investment Securities Portfolio [Line Items] | |||
Amortized Cost | 3,500 | 3,500 | |
Gross Unrealized Gains | 3 | 5 | |
Fair Value | 3,503 | 3,505 | |
US Government-sponsored Enterprises Debt Securities [Member] | |||
Note 3 - Investment Securities (Details) - Amortized Cost, Unrealized Gains and Losses, and Estimated Fair Value of Available for Sale Investment Securities Portfolio [Line Items] | |||
Amortized Cost | 431,800 | 635,278 | |
Gross Unrealized Gains | 675 | 937 | |
Gross Unrealized Losses | (539) | (1,027) | |
Fair Value | 431,936 | 635,188 | |
Residential Mortgage Backed Securities [Member] | |||
Note 3 - Investment Securities (Details) - Amortized Cost, Unrealized Gains and Losses, and Estimated Fair Value of Available for Sale Investment Securities Portfolio [Line Items] | |||
Amortized Cost | 20,955 | 24,647 | |
Gross Unrealized Gains | 1,468 | 1,776 | |
Gross Unrealized Losses | (8) | (16) | |
Fair Value | 22,415 | 26,407 | |
Commercial Mortgage Backed Securities [Member] | |||
Note 3 - Investment Securities (Details) - Amortized Cost, Unrealized Gains and Losses, and Estimated Fair Value of Available for Sale Investment Securities Portfolio [Line Items] | |||
Amortized Cost | 2,638 | 2,923 | |
Gross Unrealized Gains | 4 | 6 | |
Gross Unrealized Losses | (10) | (10) | |
Fair Value | 2,632 | 2,919 | |
US States and Political Subdivisions Debt Securities [Member] | |||
Note 3 - Investment Securities (Details) - Amortized Cost, Unrealized Gains and Losses, and Estimated Fair Value of Available for Sale Investment Securities Portfolio [Line Items] | |||
Amortized Cost | 159,738 | 171,907 | |
Gross Unrealized Gains | 8,670 | 10,015 | |
Gross Unrealized Losses | (156) | (123) | |
Fair Value | 168,252 | 181,799 | |
Residential Collateralized Mortgage Obligations [Member] | |||
Note 3 - Investment Securities (Details) - Amortized Cost, Unrealized Gains and Losses, and Estimated Fair Value of Available for Sale Investment Securities Portfolio [Line Items] | |||
Amortized Cost | 209,448 | 230,347 | |
Gross Unrealized Gains | 537 | 634 | |
Gross Unrealized Losses | (7,235) | (8,524) | |
Fair Value | 202,750 | 222,457 | |
Asset-backed Securities [Member] | |||
Note 3 - Investment Securities (Details) - Amortized Cost, Unrealized Gains and Losses, and Estimated Fair Value of Available for Sale Investment Securities Portfolio [Line Items] | |||
Amortized Cost | 2,672 | 8,349 | |
Gross Unrealized Losses | (13) | (36) | |
Fair Value | 2,659 | 8,313 | |
FHLMC And FNMA Stock [Member] | |||
Note 3 - Investment Securities (Details) - Amortized Cost, Unrealized Gains and Losses, and Estimated Fair Value of Available for Sale Investment Securities Portfolio [Line Items] | |||
Amortized Cost | [1],[2] | 775 | 775 |
Gross Unrealized Gains | [1],[2] | $ 5,014 | $ 4,393 |
Gross Unrealized Losses | [1],[2] | ||
Fair Value | [1],[2] | $ 5,789 | $ 5,168 |
Domestic Corporate Debt Securities [Member] | |||
Note 3 - Investment Securities (Details) - Amortized Cost, Unrealized Gains and Losses, and Estimated Fair Value of Available for Sale Investment Securities Portfolio [Line Items] | |||
Amortized Cost | 794,276 | 511,699 | |
Gross Unrealized Gains | 1,829 | 2,169 | |
Gross Unrealized Losses | (3,984) | (1,629) | |
Fair Value | 792,121 | 512,239 | |
Other Securities [Member] | |||
Note 3 - Investment Securities (Details) - Amortized Cost, Unrealized Gains and Losses, and Estimated Fair Value of Available for Sale Investment Securities Portfolio [Line Items] | |||
Amortized Cost | 2,039 | 2,039 | |
Gross Unrealized Gains | 924 | 871 | |
Gross Unrealized Losses | (142) | (124) | |
Fair Value | $ 2,821 | $ 2,786 | |
[1] | Federal Home Loan Mortgage Corporation | ||
[2] | Federal National Mortgage Association |
Note 3 - Investment Securitie29
Note 3 - Investment Securities (Details) - Amortized Cost, Unrealized Gains and Losses, and Estimated Market Value of Held to Maturity Investment Securities Portfolio - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Note 3 - Investment Securities (Details) - Amortized Cost, Unrealized Gains and Losses, and Estimated Market Value of Held to Maturity Investment Securities Portfolio [Line Items] | ||
Amortized Cost | $ 1,159,581 | $ 1,038,658 |
Gross Unrecognized Gains | 11,508 | 14,780 |
Gross Unrecognized Losses | (6,486) | (4,876) |
Estimated Fair Value | 1,164,603 | 1,048,562 |
US Government-sponsored Enterprises Debt Securities [Member] | ||
Note 3 - Investment Securities (Details) - Amortized Cost, Unrealized Gains and Losses, and Estimated Market Value of Held to Maturity Investment Securities Portfolio [Line Items] | ||
Amortized Cost | 912 | 1,066 |
Gross Unrecognized Gains | 7 | 11 |
Estimated Fair Value | 919 | 1,077 |
Residential Mortgage Backed Securities [Member] | ||
Note 3 - Investment Securities (Details) - Amortized Cost, Unrealized Gains and Losses, and Estimated Market Value of Held to Maturity Investment Securities Portfolio [Line Items] | ||
Amortized Cost | 220,364 | 59,078 |
Gross Unrecognized Gains | 949 | 1,183 |
Gross Unrecognized Losses | (775) | (137) |
Estimated Fair Value | 220,538 | 60,124 |
Commercial Mortgage Backed Securities [Member] | ||
Note 3 - Investment Securities (Details) - Amortized Cost, Unrealized Gains and Losses, and Estimated Market Value of Held to Maturity Investment Securities Portfolio [Line Items] | ||
Amortized Cost | 16,498 | |
Gross Unrecognized Gains | 43 | |
Gross Unrecognized Losses | (148) | |
Estimated Fair Value | 16,393 | |
US States and Political Subdivisions Debt Securities [Member] | ||
Note 3 - Investment Securities (Details) - Amortized Cost, Unrealized Gains and Losses, and Estimated Market Value of Held to Maturity Investment Securities Portfolio [Line Items] | ||
Amortized Cost | 692,585 | 720,189 |
Gross Unrecognized Gains | 8,629 | 11,350 |
Gross Unrecognized Losses | (3,720) | (2,358) |
Estimated Fair Value | 697,494 | 729,181 |
Residential Collateralized Mortgage Obligations [Member] | ||
Note 3 - Investment Securities (Details) - Amortized Cost, Unrealized Gains and Losses, and Estimated Market Value of Held to Maturity Investment Securities Portfolio [Line Items] | ||
Amortized Cost | 229,222 | 258,325 |
Gross Unrecognized Gains | 1,880 | 2,236 |
Gross Unrecognized Losses | (1,843) | (2,381) |
Estimated Fair Value | $ 229,259 | $ 258,180 |
Note 3 - Investment Securitie30
Note 3 - Investment Securities (Details) - Amortized Cost and Estimated Market Value of Securities by Contractual Maturity - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Maturity in years: | ||
Securities Available for Sale, Amortized Cost, 1 year or less | $ 99,091 | $ 57,891 |
Securities Available for Sale, Estimated Market Value, 1 year or less | 99,319 | 57,991 |
Securities Held to Maturity, Amortized Cost, 1 year or less | 13,500 | 15,355 |
Securities Held to Maturity, Estimated Market Value, 1 year or less | 14,053 | 15,855 |
Securities Available for Sale, Amortized Cost, Over 1 to 5 years | 1,095,152 | 629,200 |
Securities Available for Sale, Estimated Market Value, Over 1 to 5 years | 1,094,069 | 630,797 |
Securities Held to Maturity, Amortized Cost, Over 1 to 5 years | 239,801 | 228,380 |
Securities Held to Maturity, Estimated Market Value, Over 1 to 5 years | 241,670 | 230,248 |
Securities Available for Sale, Amortized Cost, Over 5 to 10 years | 155,190 | 584,872 |
Securities Available for Sale, Estimated Market Value, Over 5 to 10 years | 159,881 | 589,250 |
Securities Held to Maturity, Amortized Cost, Over 5 to 10 years | 266,989 | 285,219 |
Securities Held to Maturity, Estimated Market Value, Over 5 to 10 years | 269,180 | 288,631 |
Securities Available for Sale, Amortized Cost, Over 10 years | 42,553 | 58,770 |
Securities Available for Sale, Estimated Market Value, Over 10 years | 45,202 | 63,006 |
Securities Held to Maturity, Amortized Cost, Over 10 years | 173,207 | 192,301 |
Securities Held to Maturity, Estimated Market Value, Over 10 years | 173,510 | 195,524 |
Securities Available for Sale, Amortized Cost, Subtotal | 1,391,986 | 1,330,733 |
Securities Available for Sale, Estimated Market Value, Subtotal | 1,398,471 | 1,341,044 |
Securities Held to Maturity, Amortized Cost, Subtotal | 693,497 | 721,255 |
Securities Held to Maturity, Estimated Market Value, Subtotal | 698,413 | 730,258 |
Securities Available for Sale, Amortized Cost, Mortgage-backed securities and residential collateralized mortgage obligations | 233,041 | 257,917 |
Securities Available for Sale, Estimated Market Value, Mortgage-backed securities and residential collateralized mortgage obligations | 227,797 | 251,783 |
Securities Held to Maturity, Amortized Cost, Mortgage-backed securities and residential collateralized mortgage obligations | 466,084 | 317,403 |
Securities Held to Maturity, Estimated Market Value, Mortgage-backed securities and residential collateralized mortgage obligations | 466,190 | 318,304 |
Securities Available for Sale, Amortized Cost, Other securities | 2,814 | 2,814 |
Securities Available for Sale, Estimated Market Value, Other securities | 8,610 | 7,954 |
Securities Available for Sale, Amortized Cost, Total | 1,627,841 | 1,591,464 |
Securities Available for Sale, Estimated Market Value, Total | 1,634,878 | 1,600,781 |
Securities Held to Maturity, Amortized Cost, Total | 1,159,581 | 1,038,658 |
Securities Held to Maturity, Estimated Market Value, Total | $ 1,164,603 | $ 1,048,562 |
Note 3 - Investment Securitie31
Note 3 - Investment Securities (Details) - Gross Unrealized Losses, Investment Securities Portfolio $ in Thousands | Jun. 30, 2015USD ($) | Dec. 31, 2014USD ($) |
Note 3 - Investment Securities (Details) - Gross Unrealized Losses, Investment Securities Portfolio [Line Items] | ||
Available for sale securities, less than 12 months, number of investment positions | 108 | 77 |
Available for sale securities, less than 12 months, fair value | $ 560,956 | $ 427,156 |
Available for sale securities, less than 12 months, unrealized losses | $ (4,308) | $ (2,325) |
Available for sale securities, 12 months or longer, number of investment positions | 58 | 60 |
Available for sale securities, 12 months or longer, fair value | $ 238,257 | $ 261,583 |
Available for sale securities, 12 months or longer, unrealized losses | $ (7,779) | $ (9,164) |
Available for sale securities, total, number of investment positions | 166 | 137 |
Available for sale securities, total, fair value | $ 799,213 | $ 688,739 |
Available for sale securities, total, unrealized losses | $ (12,087) | $ (11,489) |
Held to Maturity securities, less than 12 months, number of investment positions | 228 | 112 |
Held to Maturity securities, less than 12 months, fair value | $ 419,096 | $ 109,601 |
Held to Maturity securities, less than 12 months, unrealized losses | $ (2,749) | $ (737) |
Held to Maturity securities, 12 months or longer, number of investment positions | 96 | 161 |
Held to Maturity securities, 12 months or longer, fair value | $ 148,366 | $ 243,084 |
Held to Maturity securities, 12 months or longer, unrealized losses | $ (3,737) | $ (4,139) |
Held to Maturity securities, total, number of investment positions | 324 | 273 |
Held to Maturity securities, total, fair value | $ 567,462 | $ 352,685 |
Held to Maturity securities, total, unrealized losses | $ (6,486) | $ (4,876) |
US Government-sponsored Enterprises Debt Securities [Member] | ||
Note 3 - Investment Securities (Details) - Gross Unrealized Losses, Investment Securities Portfolio [Line Items] | ||
Available for sale securities, less than 12 months, number of investment positions | 16 | 15 |
Available for sale securities, less than 12 months, fair value | $ 138,060 | $ 253,632 |
Available for sale securities, less than 12 months, unrealized losses | $ (517) | $ (989) |
Available for sale securities, 12 months or longer, number of investment positions | 1 | 1 |
Available for sale securities, 12 months or longer, fair value | $ 9,978 | $ 9,963 |
Available for sale securities, 12 months or longer, unrealized losses | $ (22) | $ (38) |
Available for sale securities, total, number of investment positions | 17 | 16 |
Available for sale securities, total, fair value | $ 148,038 | $ 263,595 |
Available for sale securities, total, unrealized losses | $ (539) | $ (1,027) |
Residential Mortgage Backed Securities [Member] | ||
Note 3 - Investment Securities (Details) - Gross Unrealized Losses, Investment Securities Portfolio [Line Items] | ||
Available for sale securities, 12 months or longer, number of investment positions | 1 | 2 |
Available for sale securities, 12 months or longer, fair value | $ 795 | $ 822 |
Available for sale securities, 12 months or longer, unrealized losses | $ (8) | $ (16) |
Available for sale securities, total, number of investment positions | 1 | 2 |
Available for sale securities, total, fair value | $ 795 | $ 822 |
Available for sale securities, total, unrealized losses | $ (8) | $ (16) |
Held to Maturity securities, less than 12 months, number of investment positions | 11 | 4 |
Held to Maturity securities, less than 12 months, fair value | $ 176,217 | $ 19,467 |
Held to Maturity securities, less than 12 months, unrealized losses | $ (772) | $ (132) |
Held to Maturity securities, 12 months or longer, number of investment positions | 1 | 1 |
Held to Maturity securities, 12 months or longer, fair value | $ 128 | $ 201 |
Held to Maturity securities, 12 months or longer, unrealized losses | $ (3) | $ (5) |
Held to Maturity securities, total, number of investment positions | 12 | 5 |
Held to Maturity securities, total, fair value | $ 176,345 | $ 19,668 |
Held to Maturity securities, total, unrealized losses | $ (775) | $ (137) |
Commercial Mortgage Backed Securities [Member] | ||
Note 3 - Investment Securities (Details) - Gross Unrealized Losses, Investment Securities Portfolio [Line Items] | ||
Available for sale securities, less than 12 months, number of investment positions | 1 | 1 |
Available for sale securities, less than 12 months, fair value | $ 900 | $ 942 |
Available for sale securities, less than 12 months, unrealized losses | $ (7) | $ (7) |
Available for sale securities, 12 months or longer, number of investment positions | 1 | 1 |
Available for sale securities, 12 months or longer, fair value | $ 609 | $ 803 |
Available for sale securities, 12 months or longer, unrealized losses | $ (3) | $ (3) |
Available for sale securities, total, number of investment positions | 2 | 2 |
Available for sale securities, total, fair value | $ 1,509 | $ 1,745 |
Available for sale securities, total, unrealized losses | $ (10) | $ (10) |
Held to Maturity securities, less than 12 months, number of investment positions | 2 | |
Held to Maturity securities, less than 12 months, fair value | $ 14,290 | |
Held to Maturity securities, less than 12 months, unrealized losses | $ (148) | |
Held to Maturity securities, total, number of investment positions | 2 | |
Held to Maturity securities, total, fair value | $ 14,290 | |
Held to Maturity securities, total, unrealized losses | $ (148) | |
US States and Political Subdivisions Debt Securities [Member] | ||
Note 3 - Investment Securities (Details) - Gross Unrealized Losses, Investment Securities Portfolio [Line Items] | ||
Available for sale securities, less than 12 months, number of investment positions | 6 | 7 |
Available for sale securities, less than 12 months, fair value | $ 2,826 | $ 2,548 |
Available for sale securities, less than 12 months, unrealized losses | $ (41) | $ (18) |
Available for sale securities, 12 months or longer, number of investment positions | 11 | 17 |
Available for sale securities, 12 months or longer, fair value | $ 3,824 | $ 5,518 |
Available for sale securities, 12 months or longer, unrealized losses | $ (115) | $ (105) |
Available for sale securities, total, number of investment positions | 17 | 24 |
Available for sale securities, total, fair value | $ 6,650 | $ 8,066 |
Available for sale securities, total, unrealized losses | $ (156) | $ (123) |
Held to Maturity securities, less than 12 months, number of investment positions | 200 | 103 |
Held to Maturity securities, less than 12 months, fair value | $ 169,949 | $ 76,202 |
Held to Maturity securities, less than 12 months, unrealized losses | $ (1,441) | $ (439) |
Held to Maturity securities, 12 months or longer, number of investment positions | 81 | 138 |
Held to Maturity securities, 12 months or longer, fair value | $ 69,233 | $ 123,370 |
Held to Maturity securities, 12 months or longer, unrealized losses | $ (2,279) | $ (1,919) |
Held to Maturity securities, total, number of investment positions | 281 | 241 |
Held to Maturity securities, total, fair value | $ 239,182 | $ 199,572 |
Held to Maturity securities, total, unrealized losses | $ (3,720) | $ (2,358) |
Residential Collateralized Mortgage Obligations [Member] | ||
Note 3 - Investment Securities (Details) - Gross Unrealized Losses, Investment Securities Portfolio [Line Items] | ||
Available for sale securities, less than 12 months, number of investment positions | 2 | |
Available for sale securities, less than 12 months, fair value | $ 14,061 | |
Available for sale securities, less than 12 months, unrealized losses | $ (326) | |
Available for sale securities, 12 months or longer, number of investment positions | 29 | 32 |
Available for sale securities, 12 months or longer, fair value | $ 174,725 | $ 205,074 |
Available for sale securities, 12 months or longer, unrealized losses | $ (6,909) | $ (8,524) |
Available for sale securities, total, number of investment positions | 31 | 32 |
Available for sale securities, total, fair value | $ 188,786 | $ 205,074 |
Available for sale securities, total, unrealized losses | $ (7,235) | $ (8,524) |
Held to Maturity securities, less than 12 months, number of investment positions | 15 | 5 |
Held to Maturity securities, less than 12 months, fair value | $ 58,640 | $ 13,932 |
Held to Maturity securities, less than 12 months, unrealized losses | $ (388) | $ (166) |
Held to Maturity securities, 12 months or longer, number of investment positions | 14 | 22 |
Held to Maturity securities, 12 months or longer, fair value | $ 79,005 | $ 119,513 |
Held to Maturity securities, 12 months or longer, unrealized losses | $ (1,455) | $ (2,215) |
Held to Maturity securities, total, number of investment positions | 29 | 27 |
Held to Maturity securities, total, fair value | $ 137,645 | $ 133,445 |
Held to Maturity securities, total, unrealized losses | $ (1,843) | $ (2,381) |
Asset-backed Securities [Member] | ||
Note 3 - Investment Securities (Details) - Gross Unrealized Losses, Investment Securities Portfolio [Line Items] | ||
Available for sale securities, less than 12 months, number of investment positions | 1 | |
Available for sale securities, less than 12 months, fair value | $ 5,008 | |
Available for sale securities, less than 12 months, unrealized losses | $ (7) | |
Available for sale securities, 12 months or longer, number of investment positions | 1 | 1 |
Available for sale securities, 12 months or longer, fair value | $ 2,659 | $ 3,305 |
Available for sale securities, 12 months or longer, unrealized losses | $ (13) | $ (29) |
Available for sale securities, total, number of investment positions | 1 | 2 |
Available for sale securities, total, fair value | $ 2,659 | $ 8,313 |
Available for sale securities, total, unrealized losses | $ (13) | $ (36) |
Domestic Corporate Debt Securities [Member] | ||
Note 3 - Investment Securities (Details) - Gross Unrealized Losses, Investment Securities Portfolio [Line Items] | ||
Available for sale securities, less than 12 months, number of investment positions | 83 | 53 |
Available for sale securities, less than 12 months, fair value | $ 405,109 | $ 165,026 |
Available for sale securities, less than 12 months, unrealized losses | $ (3,417) | $ (1,304) |
Available for sale securities, 12 months or longer, number of investment positions | 13 | 5 |
Available for sale securities, 12 months or longer, fair value | $ 43,809 | $ 34,222 |
Available for sale securities, 12 months or longer, unrealized losses | $ (567) | $ (325) |
Available for sale securities, total, number of investment positions | 96 | 58 |
Available for sale securities, total, fair value | $ 448,918 | $ 199,248 |
Available for sale securities, total, unrealized losses | $ (3,984) | $ (1,629) |
Other Securities [Member] | ||
Note 3 - Investment Securities (Details) - Gross Unrealized Losses, Investment Securities Portfolio [Line Items] | ||
Available for sale securities, 12 months or longer, number of investment positions | 1 | 1 |
Available for sale securities, 12 months or longer, fair value | $ 1,858 | $ 1,876 |
Available for sale securities, 12 months or longer, unrealized losses | $ (142) | $ (124) |
Available for sale securities, total, number of investment positions | 1 | 1 |
Available for sale securities, total, fair value | $ 1,858 | $ 1,876 |
Available for sale securities, total, unrealized losses | $ (142) | $ (124) |
Note 3 - Investment Securitie32
Note 3 - Investment Securities (Details) - Interest Income from Investment Securities - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Interest Income from Investment Securities [Abstract] | ||||
Taxable | $ 8,393 | $ 5,876 | $ 15,946 | $ 11,559 |
Tax-exempt | 5,997 | 6,740 | 12,131 | 13,720 |
Total interest income from investment securities | $ 14,390 | $ 12,616 | $ 28,077 | $ 25,279 |
Note 4 - Loans and Allowance 33
Note 4 - Loans and Allowance for Credit Losses (Details) | 1 Months Ended | 3 Months Ended | 6 Months Ended | |||
Jan. 31, 2015USD ($) | Jun. 30, 2015USD ($) | Jun. 30, 2014USD ($) | Jun. 30, 2015USD ($) | Jun. 30, 2014USD ($) | Dec. 31, 2014USD ($) | |
Note 4 - Loans and Allowance for Credit Losses (Details) [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | $ 6,594,000 | $ 5,332,000 | $ 6,594,000 | $ 5,332,000 | ||
Troubled Debt Restructurings During Period | 1 | 1 | 6 | 2 | ||
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | 0 | 0 | 0 | 0 | ||
Payments for Federal Home Loan Bank Advances | $ 20,015,000 | |||||
Long-term Federal Home Loan Bank Advances | $ 20,015,000 | |||||
Restricted Pledged Loans | 18,366,000 | |||||
Loans Receivable Held-for-sale, Amount | $ 0 | $ 0 | 0 | |||
Other Real Estate, Foreclosed Assets, and Repossessed Assets | 9,260,000 | $ 8,543,000 | 9,260,000 | $ 8,543,000 | 6,374,000 | |
Mortgage Loans in Process of Foreclosure, Amount | 0 | 705,000 | 0 | 705,000 | ||
Restructured Loans [Member] | ||||||
Note 4 - Loans and Allowance for Credit Losses (Details) [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 6,594,000 | 6,594,000 | 4,837,000 | |||
Impaired Loans, Restructured, Nonaccrual Status | 0 | 0 | $ 0 | |||
One Loan [Member] | ||||||
Note 4 - Loans and Allowance for Credit Losses (Details) [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 100,000 | 98,000 | 100,000 | 98,000 | ||
Six Loans [Member] | ||||||
Note 4 - Loans and Allowance for Credit Losses (Details) [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 1,830,000 | 1,830,000 | ||||
Two Loans [Member] | ||||||
Note 4 - Loans and Allowance for Credit Losses (Details) [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | 115,000 | 115,000 | ||||
Residential Real Estate Included in OREO [Member] | ||||||
Note 4 - Loans and Allowance for Credit Losses (Details) [Line Items] | ||||||
Real Estate Acquired Through Foreclosure | $ 486,000 | $ 585,000 | $ 486,000 | $ 585,000 |
Note 4 - Loans and Allowance 34
Note 4 - Loans and Allowance for Credit Losses (Details) - Loans Receivable at Carrying Amount - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Note 4 - Loans and Allowance for Credit Losses (Details) - Loans Receivable at Carrying Amount [Line Items] | ||
Originated loans | $ 1,425,047 | $ 1,470,369 |
Purchased covered loans: | ||
Gross purchased covered loans | 15,306 | 17,546 |
Credit risk discount, covered loans | (197) | (468) |
Purchased non-covered loans: | ||
Gross purchased non-covered loans | 198,895 | 222,215 |
Credit risk discount, non-covered loans | (7,780) | (9,372) |
Total | 1,631,271 | 1,700,290 |
Commercial Portfolio Segment [Member] | ||
Note 4 - Loans and Allowance for Credit Losses (Details) - Loans Receivable at Carrying Amount [Line Items] | ||
Originated loans | 370,997 | 374,005 |
Purchased non-covered loans: | ||
Gross purchased non-covered loans | 16,292 | 19,166 |
Credit risk discount, non-covered loans | (1,168) | (1,356) |
Total | 386,121 | 391,815 |
Commercial Real Estate Portfolio Segment [Member] | ||
Note 4 - Loans and Allowance for Credit Losses (Details) - Loans Receivable at Carrying Amount [Line Items] | ||
Originated loans | 548,610 | 567,594 |
Purchased non-covered loans: | ||
Gross purchased non-covered loans | 143,722 | 157,502 |
Credit risk discount, non-covered loans | (5,089) | (6,492) |
Total | 687,243 | 718,604 |
Construction Portfolio Segment [Member] | ||
Note 4 - Loans and Allowance for Credit Losses (Details) - Loans Receivable at Carrying Amount [Line Items] | ||
Originated loans | 6,762 | 11,003 |
Purchased non-covered loans: | ||
Gross purchased non-covered loans | 995 | 2,919 |
Credit risk discount, non-covered loans | (50) | |
Total | 7,757 | 13,872 |
Residential Portfolio Segment [Member] | ||
Note 4 - Loans and Allowance for Credit Losses (Details) - Loans Receivable at Carrying Amount [Line Items] | ||
Originated loans | 134,421 | 146,925 |
Purchased covered loans: | ||
Gross purchased covered loans | 2,520 | 2,626 |
Credit risk discount, covered loans | (133) | (434) |
Purchased non-covered loans: | ||
Gross purchased non-covered loans | 706 | 972 |
Credit risk discount, non-covered loans | (262) | (262) |
Total | 137,252 | 149,827 |
Consumer Portfolio Segment [Member] | ||
Note 4 - Loans and Allowance for Credit Losses (Details) - Loans Receivable at Carrying Amount [Line Items] | ||
Originated loans | 364,257 | 370,842 |
Purchased covered loans: | ||
Gross purchased covered loans | 12,786 | 14,920 |
Credit risk discount, covered loans | (64) | (34) |
Purchased non-covered loans: | ||
Gross purchased non-covered loans | 37,180 | 41,656 |
Credit risk discount, non-covered loans | (1,261) | (1,212) |
Total | $ 412,898 | $ 426,172 |
Note 4 - Loans and Allowance 35
Note 4 - Loans and Allowance for Credit Losses (Details) - Changes in the Carrying Amount of Impaired Purchased Loans - Receivables Acquired with Deteriorated Credit Quality [Member] - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended |
Jun. 30, 2015 | Dec. 31, 2014 | |
Note 4 - Loans and Allowance for Credit Losses (Details) - Changes in the Carrying Amount of Impaired Purchased Loans [Line Items] | ||
Carrying amount at the beginning of the period | $ 4,672 | $ 4,936 |
Reductions during the period | (32) | (264) |
Carrying amount at the end of the period | $ 4,640 | $ 4,672 |
Note 4 - Loans and Allowance 36
Note 4 - Loans and Allowance for Credit Losses (Details) - Changes in the Accretable Yield for Purchased Loans - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended |
Jun. 30, 2015 | Dec. 31, 2014 | |
Changes in the Accretable Yield for Purchased Loans [Abstract] | ||
Balance at the beginning of the period | $ 2,261 | $ 2,505 |
Reclassification from nonaccretable difference | 1,365 | 5,016 |
Accretion | (1,835) | (5,260) |
Change in FDIC indemnification | 230 | 1,110 |
(Increase) in interest income | (1,605) | (4,150) |
Balance at the end of the period | $ 1,791 | $ 2,261 |
Note 4 - Loans and Allowance 37
Note 4 - Loans and Allowance for Credit Losses (Details) - Allowance for Credit Losses - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Allowance for loan losses: | ||||||
Balance at beginning of period | $ 31,187 | $ 32,109 | $ 31,485 | $ 31,693 | ||
Additions: | ||||||
Provision | 0 | 1,000 | 0 | 2,000 | ||
Deductions: | ||||||
Chargeoffs | (1,373) | (1,481) | (2,463) | (2,800) | ||
Recoveries | 1,014 | 770 | 1,806 | 1,505 | ||
Net loan recoveries (losses) | (359) | (711) | (657) | (1,295) | ||
Indemnification expiration | 0 | |||||
Balance at end of period | 31,187 | 32,109 | 31,485 | 31,693 | $ 30,828 | $ 32,398 |
Liability for off-balance sheet credit exposure | 2,693 | |||||
Total allowance for loan losses | 30,828 | 35,091 | 30,828 | 35,091 | ||
Originated Loans [Member] | Commercial Portfolio Segment [Member] | ||||||
Allowance for loan losses: | ||||||
Balance at beginning of period | 5,470 | 4,243 | 5,460 | 4,005 | ||
Additions: | ||||||
Provision | 1,704 | 1,085 | 1,594 | 1,215 | ||
Deductions: | ||||||
Chargeoffs | (401) | (150) | (461) | (210) | ||
Recoveries | 334 | 119 | 514 | 287 | ||
Net loan recoveries (losses) | (67) | (31) | 53 | 77 | ||
Indemnification expiration | 0 | |||||
Balance at end of period | 5,470 | 4,243 | 5,460 | 4,005 | 5,297 | |
Liability for off-balance sheet credit exposure | 1,733 | |||||
Total allowance for loan losses | 7,107 | 7,030 | 7,107 | 7,030 | ||
Originated Loans [Member] | Commercial Real Estate Portfolio Segment [Member] | ||||||
Allowance for loan losses: | ||||||
Balance at beginning of period | 4,123 | 11,259 | 4,245 | 12,070 | ||
Additions: | ||||||
Provision | 758 | (610) | 621 | (1,584) | ||
Deductions: | ||||||
Chargeoffs | 0 | 0 | 0 | 0 | ||
Recoveries | 15 | 15 | 30 | 178 | ||
Net loan recoveries (losses) | 15 | 15 | 30 | 178 | ||
Indemnification expiration | 0 | |||||
Balance at end of period | 4,123 | 11,259 | 4,245 | 12,070 | 10,664 | |
Liability for off-balance sheet credit exposure | 24 | |||||
Total allowance for loan losses | 4,896 | 10,688 | 4,896 | 10,688 | ||
Originated Loans [Member] | Construction Portfolio Segment [Member] | ||||||
Allowance for loan losses: | ||||||
Balance at beginning of period | 730 | 445 | 644 | 602 | ||
Additions: | ||||||
Provision | (327) | (3) | (241) | (163) | ||
Deductions: | ||||||
Chargeoffs | 0 | 0 | 0 | 0 | ||
Recoveries | 0 | 0 | 0 | 3 | ||
Net loan recoveries (losses) | 0 | 0 | 0 | 3 | ||
Indemnification expiration | 0 | |||||
Balance at end of period | 730 | 445 | 644 | 602 | 442 | |
Liability for off-balance sheet credit exposure | 165 | |||||
Total allowance for loan losses | 403 | 607 | 403 | 607 | ||
Originated Loans [Member] | Residential Portfolio Segment [Member] | ||||||
Allowance for loan losses: | ||||||
Balance at beginning of period | 2,140 | 491 | 2,241 | 405 | ||
Additions: | ||||||
Provision | (82) | (52) | (183) | 34 | ||
Deductions: | ||||||
Chargeoffs | 0 | (30) | 0 | (30) | ||
Recoveries | 0 | 0 | 0 | 0 | ||
Net loan recoveries (losses) | 0 | (30) | 0 | (30) | ||
Indemnification expiration | 0 | |||||
Balance at end of period | 2,140 | 491 | 2,241 | 405 | 409 | |
Liability for off-balance sheet credit exposure | 0 | |||||
Total allowance for loan losses | 2,058 | 409 | 2,058 | 409 | ||
Originated Loans [Member] | Consumer Portfolio Segment [Member] | ||||||
Allowance for loan losses: | ||||||
Balance at beginning of period | 7,031 | 2,813 | 7,717 | 3,198 | ||
Additions: | ||||||
Provision | 350 | (75) | 69 | 139 | ||
Deductions: | ||||||
Chargeoffs | (576) | (1,301) | (1,571) | (2,300) | ||
Recoveries | 443 | 618 | 1,033 | 1,018 | ||
Net loan recoveries (losses) | (133) | (683) | (538) | (1,282) | ||
Indemnification expiration | 0 | |||||
Balance at end of period | 7,031 | 2,813 | 7,717 | 3,198 | 2,055 | |
Liability for off-balance sheet credit exposure | 465 | |||||
Total allowance for loan losses | 7,248 | 2,520 | 7,248 | 2,520 | ||
Purchased Non-Covered Loans [Member] | ||||||
Allowance for loan losses: | ||||||
Balance at beginning of period | 2,339 | 2,574 | 2,120 | 0 | ||
Additions: | ||||||
Provision | (921) | 115 | (674) | 1,387 | ||
Deductions: | ||||||
Chargeoffs | (396) | 0 | (431) | (260) | ||
Recoveries | 222 | 18 | 229 | 19 | ||
Net loan recoveries (losses) | (174) | 18 | (202) | (241) | ||
Indemnification expiration | 1,561 | |||||
Balance at end of period | 2,339 | 2,574 | 2,120 | 0 | 2,707 | |
Liability for off-balance sheet credit exposure | 243 | |||||
Total allowance for loan losses | 1,244 | 2,950 | 1,244 | 2,950 | ||
Purchased Covered Loans [Member] | ||||||
Allowance for loan losses: | ||||||
Balance at beginning of period | 0 | 0 | 0 | 1,561 | ||
Additions: | ||||||
Provision | 0 | 0 | 0 | 0 | ||
Deductions: | ||||||
Chargeoffs | 0 | 0 | 0 | 0 | ||
Recoveries | 0 | 0 | 0 | 0 | ||
Net loan recoveries (losses) | 0 | 0 | 0 | 0 | ||
Indemnification expiration | (1,561) | |||||
Balance at end of period | 0 | 0 | 0 | 1,561 | 0 | |
Liability for off-balance sheet credit exposure | 23 | |||||
Total allowance for loan losses | 0 | 23 | 0 | 23 | ||
Unallocated Financing Receivable [Member] | ||||||
Allowance for loan losses: | ||||||
Balance at beginning of period | 9,354 | 10,284 | 9,058 | 9,852 | ||
Additions: | ||||||
Provision | (1,482) | 540 | (1,186) | 972 | ||
Deductions: | ||||||
Chargeoffs | 0 | 0 | 0 | 0 | ||
Recoveries | 0 | 0 | 0 | 0 | ||
Net loan recoveries (losses) | 0 | 0 | 0 | 0 | ||
Indemnification expiration | 0 | |||||
Balance at end of period | 9,354 | 10,284 | 9,058 | 9,852 | 10,824 | |
Liability for off-balance sheet credit exposure | $ 40 | |||||
Total allowance for loan losses | $ 7,872 | $ 10,864 | $ 7,872 | $ 10,864 |
Note 4 - Loans and Allowance 38
Note 4 - Loans and Allowance for Credit Losses (Details) - Recorded Investment in Loans Evaluated for Impairment - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 | Jun. 30, 2014 | |
Allowance for loan losses: | ||||
Individually evaluated for impairment | $ 3,567 | $ 496 | ||
Collectively evaluated for impairment | 27,261 | 33,682 | ||
Total | 30,828 | 34,178 | $ 35,091 | |
Carrying value of loans: | ||||
Individually evaluated for impairment | 29,935 | 28,318 | ||
Collectively evaluated for impairment | 1,596,696 | 1,667,300 | ||
Total | 1,631,271 | 1,700,290 | ||
Receivables Acquired with Deteriorated Credit Quality [Member] | ||||
Allowance for loan losses: | ||||
Total | 0 | 0 | ||
Carrying value of loans: | ||||
Total | 4,640 | 4,672 | ||
Originated Loans [Member] | ||||
Carrying value of loans: | ||||
Total | 1,425,047 | 1,470,369 | ||
Purchased Non-Covered Loans [Member] | ||||
Allowance for loan losses: | ||||
Individually evaluated for impairment | 0 | 0 | ||
Collectively evaluated for impairment | 1,244 | 2,120 | ||
Total | 1,244 | 2,120 | 2,950 | |
Carrying value of loans: | ||||
Individually evaluated for impairment | 11,712 | 12,364 | ||
Collectively evaluated for impairment | 174,980 | 196,034 | ||
Total | 191,115 | 212,843 | ||
Purchased Non-Covered Loans [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | ||||
Allowance for loan losses: | ||||
Total | 0 | 0 | ||
Carrying value of loans: | ||||
Total | 4,423 | 4,445 | ||
Purchased Covered Loans [Member] | ||||
Allowance for loan losses: | ||||
Individually evaluated for impairment | 0 | 0 | ||
Collectively evaluated for impairment | 0 | 0 | ||
Total | 0 | 0 | 23 | |
Carrying value of loans: | ||||
Individually evaluated for impairment | 0 | 0 | ||
Collectively evaluated for impairment | 14,892 | 16,851 | ||
Total | [1] | 15,109 | 17,078 | |
Purchased Covered Loans [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | ||||
Allowance for loan losses: | ||||
Total | 0 | 0 | ||
Carrying value of loans: | ||||
Total | 217 | 227 | ||
Unallocated Financing Receivable [Member] | ||||
Allowance for loan losses: | ||||
Individually evaluated for impairment | 0 | 0 | ||
Collectively evaluated for impairment | 7,872 | 8,562 | ||
Total | 7,872 | 8,562 | 10,864 | |
Carrying value of loans: | ||||
Individually evaluated for impairment | 0 | 0 | ||
Collectively evaluated for impairment | 0 | 0 | ||
Total | 0 | 0 | ||
Unallocated Financing Receivable [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | ||||
Allowance for loan losses: | ||||
Total | 0 | 0 | ||
Carrying value of loans: | ||||
Total | 0 | 0 | ||
Commercial Portfolio Segment [Member] | ||||
Carrying value of loans: | ||||
Total | 386,121 | 391,815 | ||
Commercial Portfolio Segment [Member] | Originated Loans [Member] | ||||
Allowance for loan losses: | ||||
Individually evaluated for impairment | 2,533 | 496 | ||
Collectively evaluated for impairment | 4,574 | 7,372 | ||
Total | 7,107 | 7,868 | 7,030 | |
Carrying value of loans: | ||||
Individually evaluated for impairment | 12,417 | 11,811 | ||
Collectively evaluated for impairment | 358,580 | 362,194 | ||
Total | 370,997 | 374,005 | ||
Commercial Portfolio Segment [Member] | Originated Loans [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | ||||
Allowance for loan losses: | ||||
Total | 0 | 0 | ||
Carrying value of loans: | ||||
Total | 0 | 0 | ||
Commercial Real Estate Portfolio Segment [Member] | ||||
Carrying value of loans: | ||||
Total | 687,243 | 718,604 | ||
Commercial Real Estate Portfolio Segment [Member] | Originated Loans [Member] | ||||
Allowance for loan losses: | ||||
Individually evaluated for impairment | 1,034 | 0 | ||
Collectively evaluated for impairment | 3,862 | 4,245 | ||
Total | 4,896 | 4,245 | 10,688 | |
Carrying value of loans: | ||||
Individually evaluated for impairment | 5,806 | 2,970 | ||
Collectively evaluated for impairment | 542,804 | 564,624 | ||
Total | 548,610 | 567,594 | ||
Commercial Real Estate Portfolio Segment [Member] | Originated Loans [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | ||||
Allowance for loan losses: | ||||
Total | 0 | 0 | ||
Carrying value of loans: | ||||
Total | 0 | 0 | ||
Construction Portfolio Segment [Member] | ||||
Carrying value of loans: | ||||
Total | 7,757 | 13,872 | ||
Construction Portfolio Segment [Member] | Originated Loans [Member] | ||||
Allowance for loan losses: | ||||
Individually evaluated for impairment | 0 | 0 | ||
Collectively evaluated for impairment | 403 | 988 | ||
Total | 403 | 988 | 607 | |
Carrying value of loans: | ||||
Individually evaluated for impairment | 0 | |||
Collectively evaluated for impairment | 6,762 | 11,003 | ||
Total | 6,762 | 11,003 | ||
Construction Portfolio Segment [Member] | Originated Loans [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | ||||
Allowance for loan losses: | ||||
Total | 0 | 0 | ||
Carrying value of loans: | ||||
Total | 0 | 0 | ||
Residential Portfolio Segment [Member] | ||||
Carrying value of loans: | ||||
Total | 137,252 | 149,827 | ||
Residential Portfolio Segment [Member] | Originated Loans [Member] | ||||
Allowance for loan losses: | ||||
Individually evaluated for impairment | 0 | 0 | ||
Collectively evaluated for impairment | 2,058 | 2,241 | ||
Total | 2,058 | 2,241 | 409 | |
Carrying value of loans: | ||||
Individually evaluated for impairment | 0 | 574 | ||
Collectively evaluated for impairment | 134,421 | 146,351 | ||
Total | 134,421 | 146,925 | ||
Residential Portfolio Segment [Member] | Originated Loans [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | ||||
Allowance for loan losses: | ||||
Total | 0 | 0 | ||
Carrying value of loans: | ||||
Total | 0 | 0 | ||
Consumer Portfolio Segment [Member] | ||||
Carrying value of loans: | ||||
Total | 412,898 | 426,172 | ||
Consumer Portfolio Segment [Member] | Originated Loans [Member] | ||||
Allowance for loan losses: | ||||
Individually evaluated for impairment | 0 | 0 | ||
Collectively evaluated for impairment | 7,248 | 8,154 | ||
Total | 7,248 | 8,154 | $ 2,520 | |
Carrying value of loans: | ||||
Individually evaluated for impairment | 0 | 599 | ||
Collectively evaluated for impairment | 364,257 | 370,243 | ||
Total | 364,257 | 370,842 | ||
Consumer Portfolio Segment [Member] | Originated Loans [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | ||||
Allowance for loan losses: | ||||
Total | 0 | 0 | ||
Carrying value of loans: | ||||
Total | $ 0 | $ 0 | ||
[1] | Credit risk profile reflects internally assigned grade of purchased covered loans without regard to FDIC indemnification. |
Note 4 - Loans and Allowance 39
Note 4 - Loans and Allowance for Credit Losses (Details) - Credit Risk Profile by Internally Assigned Grade - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 | |
Grade: | |||
Loans by grade | $ 1,631,271 | $ 1,700,290 | |
Pass [Member] | |||
Grade: | |||
Loans by grade | 1,550,046 | 1,618,143 | |
Substandard [Member] | |||
Grade: | |||
Loans by grade | 88,865 | 91,387 | |
Doubtful [Member] | |||
Grade: | |||
Loans by grade | 94 | 101 | |
Unlikely to be Collected Financing Receivable [Member] | |||
Grade: | |||
Loans by grade | 243 | 499 | |
Default Risk Purchase Discount [Member] | |||
Grade: | |||
Loans by grade | (7,977) | (9,840) | |
Originated Loans [Member] | |||
Grade: | |||
Loans by grade | 1,425,047 | 1,470,369 | |
Purchased Non-Covered Loans [Member] | |||
Grade: | |||
Loans by grade | 191,115 | 212,843 | |
Purchased Non-Covered Loans [Member] | Pass [Member] | |||
Grade: | |||
Loans by grade | 161,919 | 182,644 | |
Purchased Non-Covered Loans [Member] | Substandard [Member] | |||
Grade: | |||
Loans by grade | 36,902 | 39,473 | |
Purchased Non-Covered Loans [Member] | Doubtful [Member] | |||
Grade: | |||
Loans by grade | 74 | 77 | |
Purchased Non-Covered Loans [Member] | Unlikely to be Collected Financing Receivable [Member] | |||
Grade: | |||
Loans by grade | 0 | 21 | |
Purchased Non-Covered Loans [Member] | Default Risk Purchase Discount [Member] | |||
Grade: | |||
Loans by grade | (7,780) | (9,372) | |
Purchased Covered Loans [Member] | |||
Grade: | |||
Loans by grade | [1] | 15,109 | 17,078 |
Purchased Covered Loans [Member] | Pass [Member] | |||
Grade: | |||
Loans by grade | [1] | 13,621 | 15,509 |
Purchased Covered Loans [Member] | Substandard [Member] | |||
Grade: | |||
Loans by grade | [1] | 1,685 | 2,037 |
Purchased Covered Loans [Member] | Doubtful [Member] | |||
Grade: | |||
Loans by grade | [1] | 0 | 0 |
Purchased Covered Loans [Member] | Unlikely to be Collected Financing Receivable [Member] | |||
Grade: | |||
Loans by grade | [1] | 0 | 0 |
Purchased Covered Loans [Member] | Default Risk Purchase Discount [Member] | |||
Grade: | |||
Loans by grade | [1] | (197) | (468) |
Commercial Portfolio Segment [Member] | |||
Grade: | |||
Loans by grade | 386,121 | 391,815 | |
Commercial Portfolio Segment [Member] | Originated Loans [Member] | |||
Grade: | |||
Loans by grade | 370,997 | 374,005 | |
Commercial Portfolio Segment [Member] | Originated Loans [Member] | Pass [Member] | |||
Grade: | |||
Loans by grade | 354,025 | 366,487 | |
Commercial Portfolio Segment [Member] | Originated Loans [Member] | Substandard [Member] | |||
Grade: | |||
Loans by grade | 16,961 | 7,506 | |
Commercial Portfolio Segment [Member] | Originated Loans [Member] | Doubtful [Member] | |||
Grade: | |||
Loans by grade | 11 | 12 | |
Commercial Portfolio Segment [Member] | Originated Loans [Member] | Unlikely to be Collected Financing Receivable [Member] | |||
Grade: | |||
Loans by grade | 0 | 0 | |
Commercial Portfolio Segment [Member] | Originated Loans [Member] | Default Risk Purchase Discount [Member] | |||
Grade: | |||
Loans by grade | 0 | 0 | |
Commercial Real Estate Portfolio Segment [Member] | |||
Grade: | |||
Loans by grade | 687,243 | 718,604 | |
Commercial Real Estate Portfolio Segment [Member] | Originated Loans [Member] | |||
Grade: | |||
Loans by grade | 548,610 | 567,594 | |
Commercial Real Estate Portfolio Segment [Member] | Originated Loans [Member] | Pass [Member] | |||
Grade: | |||
Loans by grade | 518,410 | 527,980 | |
Commercial Real Estate Portfolio Segment [Member] | Originated Loans [Member] | Substandard [Member] | |||
Grade: | |||
Loans by grade | 30,200 | 39,614 | |
Commercial Real Estate Portfolio Segment [Member] | Originated Loans [Member] | Doubtful [Member] | |||
Grade: | |||
Loans by grade | 0 | 0 | |
Commercial Real Estate Portfolio Segment [Member] | Originated Loans [Member] | Unlikely to be Collected Financing Receivable [Member] | |||
Grade: | |||
Loans by grade | 0 | 0 | |
Commercial Real Estate Portfolio Segment [Member] | Originated Loans [Member] | Default Risk Purchase Discount [Member] | |||
Grade: | |||
Loans by grade | 0 | 0 | |
Construction Portfolio Segment [Member] | |||
Grade: | |||
Loans by grade | 7,757 | 13,872 | |
Construction Portfolio Segment [Member] | Originated Loans [Member] | |||
Grade: | |||
Loans by grade | 6,762 | 11,003 | |
Construction Portfolio Segment [Member] | Originated Loans [Member] | Pass [Member] | |||
Grade: | |||
Loans by grade | 6,762 | 11,003 | |
Construction Portfolio Segment [Member] | Originated Loans [Member] | Substandard [Member] | |||
Grade: | |||
Loans by grade | 0 | 0 | |
Construction Portfolio Segment [Member] | Originated Loans [Member] | Doubtful [Member] | |||
Grade: | |||
Loans by grade | 0 | 0 | |
Construction Portfolio Segment [Member] | Originated Loans [Member] | Unlikely to be Collected Financing Receivable [Member] | |||
Grade: | |||
Loans by grade | 0 | 0 | |
Construction Portfolio Segment [Member] | Originated Loans [Member] | Default Risk Purchase Discount [Member] | |||
Grade: | |||
Loans by grade | 0 | 0 | |
Residential Portfolio Segment [Member] | |||
Grade: | |||
Loans by grade | 137,252 | 149,827 | |
Residential Portfolio Segment [Member] | Originated Loans [Member] | |||
Grade: | |||
Loans by grade | 134,421 | 146,925 | |
Residential Portfolio Segment [Member] | Originated Loans [Member] | Pass [Member] | |||
Grade: | |||
Loans by grade | 132,116 | 144,902 | |
Residential Portfolio Segment [Member] | Originated Loans [Member] | Substandard [Member] | |||
Grade: | |||
Loans by grade | 2,305 | 2,023 | |
Residential Portfolio Segment [Member] | Originated Loans [Member] | Doubtful [Member] | |||
Grade: | |||
Loans by grade | 0 | 0 | |
Residential Portfolio Segment [Member] | Originated Loans [Member] | Unlikely to be Collected Financing Receivable [Member] | |||
Grade: | |||
Loans by grade | 0 | 0 | |
Residential Portfolio Segment [Member] | Originated Loans [Member] | Default Risk Purchase Discount [Member] | |||
Grade: | |||
Loans by grade | 0 | 0 | |
Consumer Portfolio Segment [Member] | |||
Grade: | |||
Loans by grade | 412,898 | 426,172 | |
Consumer Portfolio Segment [Member] | Originated Loans [Member] | |||
Grade: | |||
Loans by grade | 364,257 | 370,842 | |
Consumer Portfolio Segment [Member] | Originated Loans [Member] | Pass [Member] | |||
Grade: | |||
Loans by grade | 363,193 | 369,618 | |
Consumer Portfolio Segment [Member] | Originated Loans [Member] | Substandard [Member] | |||
Grade: | |||
Loans by grade | 812 | 734 | |
Consumer Portfolio Segment [Member] | Originated Loans [Member] | Doubtful [Member] | |||
Grade: | |||
Loans by grade | 9 | 12 | |
Consumer Portfolio Segment [Member] | Originated Loans [Member] | Unlikely to be Collected Financing Receivable [Member] | |||
Grade: | |||
Loans by grade | 243 | 478 | |
Consumer Portfolio Segment [Member] | Originated Loans [Member] | Default Risk Purchase Discount [Member] | |||
Grade: | |||
Loans by grade | $ 0 | $ 0 | |
[1] | Credit risk profile reflects internally assigned grade of purchased covered loans without regard to FDIC indemnification. |
Note 4 - Loans and Allowance 40
Note 4 - Loans and Allowance for Credit Losses (Details) - Loans by Delinquency and Nonaccrual Status - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 | |
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Current and Accruing | $ 1,594,399 | $ 1,662,592 | |
Nonaccrual | 16,225 | 17,604 | |
Total Loans | 1,631,271 | 1,700,290 | |
Financing Receivables, 30 to 59 Days Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past due | 16,699 | 17,620 | |
Financing Receivables, 60 to 89 Days Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past due | 3,727 | 1,972 | |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past due | 221 | 502 | |
Originated Loans [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Current and Accruing | 1,401,633 | 1,450,053 | |
Nonaccrual | 6,280 | 5,309 | |
Total Loans | 1,425,047 | 1,470,369 | |
Originated Loans [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past due | 14,268 | 13,027 | |
Originated Loans [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past due | 2,645 | 1,478 | |
Originated Loans [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past due | 221 | 502 | |
Purchased Non-Covered Loans [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Current and Accruing | 177,690 | 196,150 | |
Nonaccrual | 9,942 | 11,998 | |
Total Loans | 191,115 | 212,843 | |
Purchased Non-Covered Loans [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past due | 2,401 | 4,204 | |
Purchased Non-Covered Loans [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past due | 1,082 | 491 | |
Purchased Non-Covered Loans [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past due | 0 | 0 | |
Purchased Covered Loans [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Current and Accruing | 15,076 | 16,389 | |
Nonaccrual | 3 | 297 | |
Total Loans | [1] | 15,109 | 17,078 |
Purchased Covered Loans [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past due | 30 | 389 | |
Purchased Covered Loans [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past due | 0 | 3 | |
Purchased Covered Loans [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past due | 0 | 0 | |
Commercial Portfolio Segment [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total Loans | 386,121 | 391,815 | |
Commercial Portfolio Segment [Member] | Originated Loans [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Current and Accruing | 367,250 | 372,235 | |
Nonaccrual | 161 | 30 | |
Total Loans | 370,997 | 374,005 | |
Commercial Portfolio Segment [Member] | Originated Loans [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past due | 3,053 | 1,704 | |
Commercial Portfolio Segment [Member] | Originated Loans [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past due | 533 | 36 | |
Commercial Portfolio Segment [Member] | Originated Loans [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past due | 0 | 0 | |
Commercial Real Estate Portfolio Segment [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total Loans | 687,243 | 718,604 | |
Commercial Real Estate Portfolio Segment [Member] | Originated Loans [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Current and Accruing | 534,629 | 557,041 | |
Nonaccrual | 6,119 | 4,053 | |
Total Loans | 548,610 | 567,594 | |
Commercial Real Estate Portfolio Segment [Member] | Originated Loans [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past due | 6,554 | 6,500 | |
Commercial Real Estate Portfolio Segment [Member] | Originated Loans [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past due | 1,308 | 0 | |
Commercial Real Estate Portfolio Segment [Member] | Originated Loans [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past due | 0 | 0 | |
Construction Portfolio Segment [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total Loans | 7,757 | 13,872 | |
Construction Portfolio Segment [Member] | Originated Loans [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Current and Accruing | 6,762 | 11,003 | |
Nonaccrual | 0 | 0 | |
Total Loans | 6,762 | 11,003 | |
Construction Portfolio Segment [Member] | Originated Loans [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past due | 0 | 0 | |
Construction Portfolio Segment [Member] | Originated Loans [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past due | 0 | 0 | |
Construction Portfolio Segment [Member] | Originated Loans [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past due | 0 | 0 | |
Residential Portfolio Segment [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total Loans | 137,252 | 149,827 | |
Residential Portfolio Segment [Member] | Originated Loans [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Current and Accruing | 132,049 | 144,021 | |
Nonaccrual | 0 | 574 | |
Total Loans | 134,421 | 146,925 | |
Residential Portfolio Segment [Member] | Originated Loans [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past due | 2,044 | 1,513 | |
Residential Portfolio Segment [Member] | Originated Loans [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past due | 328 | 817 | |
Residential Portfolio Segment [Member] | Originated Loans [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past due | 0 | 0 | |
Consumer Portfolio Segment [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total Loans | 412,898 | 426,172 | |
Consumer Portfolio Segment [Member] | Originated Loans [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Current and Accruing | 360,943 | 365,753 | |
Nonaccrual | 0 | 652 | |
Total Loans | 364,257 | 370,842 | |
Consumer Portfolio Segment [Member] | Originated Loans [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past due | 2,617 | 3,310 | |
Consumer Portfolio Segment [Member] | Originated Loans [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past due | 476 | 625 | |
Consumer Portfolio Segment [Member] | Originated Loans [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past due | $ 221 | $ 502 | |
[1] | Credit risk profile reflects internally assigned grade of purchased covered loans without regard to FDIC indemnification. |
Note 4 - Loans and Allowance 41
Note 4 - Loans and Allowance for Credit Losses (Details) - Effect of Nonaccrual Loans on Interest Income - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Effect of Nonaccrual Loans on Interest Income [Abstract] | ||||
Interest income that would have been recognized had the loans performed in accordance with their original terms | $ 342 | $ 276 | $ 654 | $ 534 |
Less: Interest income recognized on nonaccrual loans | (118) | (25) | (324) | (69) |
Total reduction of interest income | $ 224 | $ 251 | $ 330 | $ 465 |
Note 4 - Loans and Allowance 42
Note 4 - Loans and Allowance for Credit Losses (Details) - Impaired Loans - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Commercial Portfolio Segment [Member] | ||
Impaired loans with no related allowance recorded: | ||
Impaired loans with no related allowance recorded, Recorded Investment | $ 2,756 | $ 2,031 |
Impaired loans with no related allowance recorded, Unpaid Principal Balance | 2,821 | 2,095 |
Impaired loans with an allowance recorded: | ||
Impaired loans with an allowance recorded, Recorded Investment | 9,860 | 9,910 |
Impaired loans with an allowance recorded, Unpaid Principal Balance | 9,860 | 9,910 |
Impaired loans with an allowance recorded, Related Allowance | 2,533 | 496 |
Total: | ||
Total Impaired loans, Recorded Investment | 12,616 | 11,941 |
Total Impaired loans, Unpaid Principal Balance | 12,681 | 12,005 |
Total Impaired loans, Related Allowance | 2,533 | 496 |
Commercial Real Estate Portfolio Segment [Member] | ||
Impaired loans with no related allowance recorded: | ||
Impaired loans with no related allowance recorded, Recorded Investment | 17,161 | 19,478 |
Impaired loans with no related allowance recorded, Unpaid Principal Balance | 22,374 | 25,519 |
Impaired loans with an allowance recorded: | ||
Impaired loans with an allowance recorded, Recorded Investment | 5,109 | |
Impaired loans with an allowance recorded, Unpaid Principal Balance | 5,109 | |
Impaired loans with an allowance recorded, Related Allowance | 1,034 | |
Total: | ||
Total Impaired loans, Recorded Investment | 22,270 | 19,478 |
Total Impaired loans, Unpaid Principal Balance | 27,483 | 25,519 |
Total Impaired loans, Related Allowance | 1,034 | |
Construction Portfolio Segment [Member] | ||
Impaired loans with no related allowance recorded: | ||
Impaired loans with no related allowance recorded, Recorded Investment | 1,834 | |
Impaired loans with no related allowance recorded, Unpaid Principal Balance | 1,884 | |
Total: | ||
Total Impaired loans, Recorded Investment | 1,834 | |
Total Impaired loans, Unpaid Principal Balance | 1,884 | |
Residential Portfolio Segment [Member] | ||
Impaired loans with no related allowance recorded: | ||
Impaired loans with no related allowance recorded, Recorded Investment | 240 | 574 |
Impaired loans with no related allowance recorded, Unpaid Principal Balance | 270 | 574 |
Total: | ||
Total Impaired loans, Recorded Investment | 240 | 574 |
Total Impaired loans, Unpaid Principal Balance | 270 | 574 |
Consumer Portfolio Segment [Member] | ||
Impaired loans with no related allowance recorded: | ||
Impaired loans with no related allowance recorded, Recorded Investment | 664 | 1,518 |
Impaired loans with no related allowance recorded, Unpaid Principal Balance | 711 | 1,628 |
Total: | ||
Total Impaired loans, Recorded Investment | 664 | 1,518 |
Total Impaired loans, Unpaid Principal Balance | $ 711 | $ 1,628 |
Note 4 - Loans and Allowance 43
Note 4 - Loans and Allowance for Credit Losses (Details) - Impaired Loans, Supplemental Schedule - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Note 4 - Loans and Allowance for Credit Losses (Details) - Impaired Loans, Supplemental Schedule [Line Items] | ||||
Average Recored Investment | $ 33,769 | $ 27,758 | $ 33,673 | $ 28,017 |
Recognized Interest Income | 309 | 220 | 724 | 412 |
Commercial Portfolio Segment [Member] | ||||
Note 4 - Loans and Allowance for Credit Losses (Details) - Impaired Loans, Supplemental Schedule [Line Items] | ||||
Average Recored Investment | 12,564 | 4,437 | 12,395 | 4,639 |
Recognized Interest Income | 147 | 60 | 293 | 127 |
Commercial Real Estate Portfolio Segment [Member] | ||||
Note 4 - Loans and Allowance for Credit Losses (Details) - Impaired Loans, Supplemental Schedule [Line Items] | ||||
Average Recored Investment | 19,715 | 19,800 | 19,017 | 19,549 |
Recognized Interest Income | 147 | 153 | 404 | 270 |
Construction Portfolio Segment [Member] | ||||
Note 4 - Loans and Allowance for Credit Losses (Details) - Impaired Loans, Supplemental Schedule [Line Items] | ||||
Average Recored Investment | 2,035 | 459 | 2,147 | |
Residential Portfolio Segment [Member] | ||||
Note 4 - Loans and Allowance for Credit Losses (Details) - Impaired Loans, Supplemental Schedule [Line Items] | ||||
Average Recored Investment | 693 | 162 | 776 | 162 |
Recognized Interest Income | 8 | 14 | ||
Consumer Portfolio Segment [Member] | ||||
Note 4 - Loans and Allowance for Credit Losses (Details) - Impaired Loans, Supplemental Schedule [Line Items] | ||||
Average Recored Investment | 797 | 1,324 | 1,026 | 1,520 |
Recognized Interest Income | $ 7 | $ 7 | $ 13 | $ 15 |
Note 4 - Loans and Allowance 44
Note 4 - Loans and Allowance for Credit Losses (Details) - Troubled Debt Restructurings $ in Thousands | 6 Months Ended | |
Jun. 30, 2015USD ($) | Jun. 30, 2014USD ($) | |
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts | 14 | 7 |
Pre-Modification Carrying Value | $ 7,047 | $ 5,608 |
Period-End Carrying Value | $ 6,594 | 5,332 |
Period-End Individual Impairment Allowance | $ 262 | |
Commercial Portfolio Segment [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts | 6 | 4 |
Pre-Modification Carrying Value | $ 2,813 | $ 3,299 |
Period-End Carrying Value | $ 2,557 | 2,992 |
Period-End Individual Impairment Allowance | $ 262 | |
Commercial Real Estate Portfolio Segment [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts | 6 | 2 |
Pre-Modification Carrying Value | $ 3,975 | $ 2,291 |
Period-End Carrying Value | $ 3,797 | $ 2,326 |
Residential Portfolio Segment [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts | 1 | |
Pre-Modification Carrying Value | $ 241 | |
Period-End Carrying Value | $ 237 | |
Consumer Portfolio Segment [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts | 1 | 1 |
Pre-Modification Carrying Value | $ 18 | $ 18 |
Period-End Carrying Value | $ 3 | $ 14 |
Note 5 - Concentration of Cre45
Note 5 - Concentration of Credit Risk (Details) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Note 5 - Concentration of Credit Risk (Details) [Line Items] | ||
Unsecured Loan Limit, Percentage of Shareholders' Equity, California Financial Code | 15.00% | |
Secured and Unsecured Loan Limit Percentage, California Financial Code | 25.00% | |
Loan Commitments and Standby Letters of Credit Related to Real Estate Loans (in Dollars) | $ 63,076 | $ 66,086 |
Commercial Real Estate Loans [Member] | ||
Note 5 - Concentration of Credit Risk (Details) [Line Items] | ||
Loan To Value Ratio Requirement | 75.00% | |
Residential Real Estate Loans [Member] | ||
Note 5 - Concentration of Credit Risk (Details) [Line Items] | ||
Loan To Value Ratio Requirement | 80.00% | |
Aggregate Loans [Member] | Customer Concentration Risk [Member] | ||
Note 5 - Concentration of Credit Risk (Details) [Line Items] | ||
Concentration Risk, Borrower Relationships | 41 | |
Concentration Risk, Aggregate Loan Amount (in Dollars) | $ 5,000 |
Note 6 - Other Assets (Details)
Note 6 - Other Assets (Details) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2015 | Dec. 31, 2014 | |
Note 6 - Other Assets (Details) [Line Items] | ||
FRB Membership, Stock Subscription, Percent of Paid-Up Capital Stock and Surplus Requirement | 6.00% | |
FHLB Borrowings, Minimum Activity-Based Requirement Percentage of Outstanding Advances | 4.70% | |
LIHTC Investments | $ 16,695 | $ 18,673 |
Qualified Affordable Housing Project Investments, Commitment | 2,310 | |
Contingent Commitment, Year 1 [Member] | ||
Note 6 - Other Assets (Details) [Line Items] | ||
Qualified Affordable Housing Project Investments, Commitment | 464 | |
Contingent Commitment, Year 2 [Member] | ||
Note 6 - Other Assets (Details) [Line Items] | ||
Qualified Affordable Housing Project Investments, Commitment | 763 | |
Contingent Commitment, Year 3 [Member] | ||
Note 6 - Other Assets (Details) [Line Items] | ||
Qualified Affordable Housing Project Investments, Commitment | $ 1,083 |
Note 6 - Other Assets (Detail47
Note 6 - Other Assets (Details) - Other Assets - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 | |
Cost method equity investments: | |||
Federal Reserve Bank stock (1) | [1] | $ 14,069 | $ 14,069 |
Federal Home Loan Bank stock (2) | [2] | 940 | |
Other investments | $ 201 | 241 | |
Total cost method equity investments | 14,270 | 15,250 | |
Life insurance cash surrender value | 47,717 | 46,479 | |
Net deferred tax asset | 50,669 | 50,903 | |
Limited partnership investments | 16,695 | 18,673 | |
Interest receivable | 19,340 | 19,394 | |
Prepaid assets | 5,195 | 5,609 | |
Other assets | 11,627 | 10,150 | |
Total other assets | $ 165,513 | $ 166,458 | |
[1] | A bank applying for membership in the Federal Reserve System is required to subscribe to stock in the Federal Reserve Bank of San Francisco (FRB) in a sum equal to six percent of the bank's paid-up capital stock and surplus. One-half of the amount of the bank's subscription shall be paid to the FRB and the remaining half will be subject to call when deemed necessary by the Board of Governors of the Federal Reserve System. | ||
[2] | Borrowings from the FHLB must be supported by capital stock holdings. The minimum activity-based requirement is 4.7% of the outstanding advances. The requirement may be adjusted from time to time by the FHLB within limits established in the FHLB's Capital Plan. |
Note 6 - Other Assets (Detail48
Note 6 - Other Assets (Details) - Amounts Recognized in Net Income - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Amounts Recognized in Net Income [Abstract] | ||||
Investment loss included in pre-tax income | $ 750 | $ 750 | $ 1,425 | $ 1,450 |
Tax credits recognized in provision for income taxes | $ 658 | $ 771 | $ 1,316 | $ 1,542 |
Note 7 - Goodwill and Identif49
Note 7 - Goodwill and Identifiable Intangible Assets (Details) - USD ($) | 3 Months Ended | 6 Months Ended | 12 Months Ended |
Jun. 30, 2015 | Jun. 30, 2015 | Dec. 31, 2014 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |||
Goodwill and Intangible Asset Impairment | $ 0 | $ 0 | $ 0 |
Note 7 - Goodwill and Identif50
Note 7 - Goodwill and Identifiable Intangible Assets (Details) - Carrying Values of Goodwill - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Carrying Values of Goodwill [Abstract] | ||
Goodwill | $ 121,673 | $ 121,673 |
Note 7 - Goodwill and Identif51
Note 7 - Goodwill and Identifiable Intangible Assets (Details) - Gross Carrying Amount of Intangible Assets and Accumulated Amortization - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Finite-Lived Intangible Assets [Line Items] | ||
Gross Carrying Amount | $ 67,108 | $ 67,108 |
Accumulated Amortization | (54,777) | (52,821) |
Core Deposits [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Gross Carrying Amount | 56,808 | 56,808 |
Accumulated Amortization | (45,008) | (43,188) |
Mechant Draft Processing [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Gross Carrying Amount | 10,300 | 10,300 |
Accumulated Amortization | $ (9,769) | $ (9,633) |
Note 7 - Goodwill and Identif52
Note 7 - Goodwill and Identifiable Intangible Assets (Details) - Estimated Future Amortization Expense for Identifiable Intangible Assets - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Note 7 - Goodwill and Identifiable Intangible Assets (Details) - Estimated Future Amortization Expense for Identifiable Intangible Assets [Line Items] | ||||
Six months ended June 30, 2015 (actual) | $ 955 | $ 1,058 | $ 1,956 | $ 2,163 |
Estimate for year ended December 31, 2015 | 3,856 | 3,856 | ||
2,016 | 3,504 | 3,504 | ||
2,017 | 3,077 | 3,077 | ||
2,018 | 1,921 | 1,921 | ||
2,019 | 538 | 538 | ||
2,020 | 287 | 287 | ||
Core Deposits [Member] | ||||
Note 7 - Goodwill and Identifiable Intangible Assets (Details) - Estimated Future Amortization Expense for Identifiable Intangible Assets [Line Items] | ||||
Six months ended June 30, 2015 (actual) | 1,820 | |||
Estimate for year ended December 31, 2015 | 3,594 | 3,594 | ||
2,016 | 3,292 | 3,292 | ||
2,017 | 2,913 | 2,913 | ||
2,018 | 1,892 | 1,892 | ||
2,019 | 538 | 538 | ||
2,020 | 287 | 287 | ||
Mechant Draft Processing [Member] | ||||
Note 7 - Goodwill and Identifiable Intangible Assets (Details) - Estimated Future Amortization Expense for Identifiable Intangible Assets [Line Items] | ||||
Six months ended June 30, 2015 (actual) | 136 | |||
Estimate for year ended December 31, 2015 | 262 | 262 | ||
2,016 | 212 | 212 | ||
2,017 | 164 | 164 | ||
2,018 | $ 29 | $ 29 |
Note 8 - Deposits and Borrowe53
Note 8 - Deposits and Borrowed Funds (Details) - USD ($) | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | Dec. 31, 2014 | |
Note 8 - Deposits and Borrowed Funds (Details) [Line Items] | |||||
Demand Deposit Overdrafts | $ 3,271,000 | $ 3,271,000 | $ 3,173,000 | ||
Interest Expense, Time Deposits, $100,000 or More | 182,000 | $ 233,000 | 379,000 | $ 464,000 | |
Long-term Federal Home Loan Bank Advances | 20,015,000 | ||||
Long-term Line of Credit | 0 | 0 | 0 | ||
Residential Real Estate Loans and Securities [Member] | |||||
Note 8 - Deposits and Borrowed Funds (Details) [Line Items] | |||||
Federal Home Loan Bank, Advances, General Debt Obligations, Disclosures, Collateral Pledged | $ 26,484,000 | ||||
Unsecured Line of Credit [Member] | |||||
Note 8 - Deposits and Borrowed Funds (Details) [Line Items] | |||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 35,000,000 | $ 35,000,000 | |||
Debt Instrument, Interest Rate, Stated Percentage | 2.00% | 2.00% |
Note 8 - Deposits and Borrowe54
Note 8 - Deposits and Borrowed Funds (Details) - Deposits Detail - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Deposits Detail [Abstract] | ||
Noninterest-bearing | $ 1,930,551 | $ 1,910,781 |
Interest-bearing: | ||
Transaction | 795,793 | 792,448 |
Savings | 1,287,859 | 1,260,819 |
Time deposits less than $100 thousand | 160,953 | 169,959 |
Time deposits $100 thousand through $250 thousand | 106,183 | 113,023 |
Time deposits more than $250 thousand | 73,505 | 102,161 |
Total deposits | $ 4,354,844 | $ 4,349,191 |
Note 8 - Deposits and Borrowe55
Note 8 - Deposits and Borrowed Funds (Details) - Short Term Borrowed Funds - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Note 8 - Deposits and Borrowed Funds (Details) - Short Term Borrowed Funds [Line Items] | ||
Collateral Carrying Value | $ 150,017 | $ 148,014 |
Total short-term borrowed funds | 82,747 | 89,784 |
US Government-sponsored Enterprises Debt Securities [Member] | ||
Note 8 - Deposits and Borrowed Funds (Details) - Short Term Borrowed Funds [Line Items] | ||
Collateral Carrying Value | 90,336 | 80,827 |
US States and Political Subdivisions Debt Securities [Member] | ||
Note 8 - Deposits and Borrowed Funds (Details) - Short Term Borrowed Funds [Line Items] | ||
Collateral Carrying Value | 4,915 | 14,251 |
Corporate Debt Securities [Member] | ||
Note 8 - Deposits and Borrowed Funds (Details) - Short Term Borrowed Funds [Line Items] | ||
Collateral Carrying Value | $ 54,766 | $ 52,936 |
Note 9 - Fair Value Measureme56
Note 9 - Fair Value Measurements (Details) - USD ($) $ in Thousands | 6 Months Ended | |||||
Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | |
Note 9 - Fair Value Measurements (Details) [Line Items] | ||||||
Securities Selected For OTTI Analysis Market Price Threshold | 95.00% | |||||
Securities Selected for OTTI Analysis Market to Book Ratio Threshold | 95 | |||||
Fair Value, Assets, Level 1 to Level 2 Transfers, Amount | $ 437,715 | |||||
Loans and Leases Receivable, Allowance | 30,828 | $ 31,187 | $ 31,485 | $ 32,398 | $ 32,109 | $ 31,693 |
Purchased Covered Loans [Member] | ||||||
Note 9 - Fair Value Measurements (Details) [Line Items] | ||||||
Loans and Leases Receivable, Allowance | 0 | 0 | 0 | 0 | 1,561 | |
Fair Value Discount, Credit Default Risk, Purchased Loans | 197 | 468 | ||||
Purchased Non-Covered Loans [Member] | ||||||
Note 9 - Fair Value Measurements (Details) [Line Items] | ||||||
Loans and Leases Receivable, Allowance | $ 2,339 | 2,120 | $ 2,707 | $ 2,574 | $ 0 | |
Fair Value Discount, Credit Default Risk, Purchased Loans | $ 7,780 | $ 9,372 | ||||
Fair Value, Inputs, Level 3 [Member] | ||||||
Note 9 - Fair Value Measurements (Details) [Line Items] | ||||||
Fair Value Inputs, Discount Rate | 10.00% | |||||
Fair Value, Inputs, Level 2 [Member] | ||||||
Note 9 - Fair Value Measurements (Details) [Line Items] | ||||||
Fair Value Inputs, Discount Rate | 10.00% |
Note 9 - Fair Value Measureme57
Note 9 - Fair Value Measurements (Details) - Assets Measured at Fair Value on a Recurring Basis - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 | |
Note 9 - Fair Value Measurements (Details) - Assets Measured at Fair Value on a Recurring Basis [Line Items] | |||
Investment securities available for sale | $ 1,634,878 | $ 1,600,781 | |
US Treasury Securities [Member] | |||
Note 9 - Fair Value Measurements (Details) - Assets Measured at Fair Value on a Recurring Basis [Line Items] | |||
Investment securities available for sale | 3,503 | 3,505 | |
US Government-sponsored Enterprises Debt Securities [Member] | |||
Note 9 - Fair Value Measurements (Details) - Assets Measured at Fair Value on a Recurring Basis [Line Items] | |||
Investment securities available for sale | 431,936 | 635,188 | |
Residential Mortgage Backed Securities [Member] | |||
Note 9 - Fair Value Measurements (Details) - Assets Measured at Fair Value on a Recurring Basis [Line Items] | |||
Investment securities available for sale | 22,415 | 26,407 | |
Commercial Mortgage Backed Securities [Member] | |||
Note 9 - Fair Value Measurements (Details) - Assets Measured at Fair Value on a Recurring Basis [Line Items] | |||
Investment securities available for sale | 2,632 | 2,919 | |
US States and Political Subdivisions Debt Securities [Member] | |||
Note 9 - Fair Value Measurements (Details) - Assets Measured at Fair Value on a Recurring Basis [Line Items] | |||
Investment securities available for sale | 168,252 | 181,799 | |
Residential Collateralized Mortgage Obligations [Member] | |||
Note 9 - Fair Value Measurements (Details) - Assets Measured at Fair Value on a Recurring Basis [Line Items] | |||
Investment securities available for sale | 202,750 | 222,457 | |
Asset-backed Securities [Member] | |||
Note 9 - Fair Value Measurements (Details) - Assets Measured at Fair Value on a Recurring Basis [Line Items] | |||
Investment securities available for sale | 2,659 | 8,313 | |
FHLMC And FNMA Stock [Member] | |||
Note 9 - Fair Value Measurements (Details) - Assets Measured at Fair Value on a Recurring Basis [Line Items] | |||
Investment securities available for sale | [1],[2] | 5,789 | 5,168 |
Domestic Corporate Debt Securities [Member] | |||
Note 9 - Fair Value Measurements (Details) - Assets Measured at Fair Value on a Recurring Basis [Line Items] | |||
Investment securities available for sale | 792,121 | 512,239 | |
Other Securities [Member] | |||
Note 9 - Fair Value Measurements (Details) - Assets Measured at Fair Value on a Recurring Basis [Line Items] | |||
Investment securities available for sale | 2,821 | 2,786 | |
Fair Value, Inputs, Level 1 [Member] | |||
Note 9 - Fair Value Measurements (Details) - Assets Measured at Fair Value on a Recurring Basis [Line Items] | |||
Investment securities available for sale | 4,476 | 644,771 | |
Fair Value, Inputs, Level 1 [Member] | US Treasury Securities [Member] | |||
Note 9 - Fair Value Measurements (Details) - Assets Measured at Fair Value on a Recurring Basis [Line Items] | |||
Investment securities available for sale | 3,503 | 3,505 | |
Fair Value, Inputs, Level 1 [Member] | US Government-sponsored Enterprises Debt Securities [Member] | |||
Note 9 - Fair Value Measurements (Details) - Assets Measured at Fair Value on a Recurring Basis [Line Items] | |||
Investment securities available for sale | 635,188 | ||
Fair Value, Inputs, Level 1 [Member] | FHLMC And FNMA Stock [Member] | |||
Note 9 - Fair Value Measurements (Details) - Assets Measured at Fair Value on a Recurring Basis [Line Items] | |||
Investment securities available for sale | 10 | 5,168 | |
Fair Value, Inputs, Level 1 [Member] | Other Securities [Member] | |||
Note 9 - Fair Value Measurements (Details) - Assets Measured at Fair Value on a Recurring Basis [Line Items] | |||
Investment securities available for sale | 963 | 910 | |
Fair Value, Inputs, Level 2 [Member] | |||
Note 9 - Fair Value Measurements (Details) - Assets Measured at Fair Value on a Recurring Basis [Line Items] | |||
Investment securities available for sale | 1,630,402 | 956,010 | |
Fair Value, Inputs, Level 2 [Member] | US Government-sponsored Enterprises Debt Securities [Member] | |||
Note 9 - Fair Value Measurements (Details) - Assets Measured at Fair Value on a Recurring Basis [Line Items] | |||
Investment securities available for sale | 431,936 | ||
Fair Value, Inputs, Level 2 [Member] | Residential Mortgage Backed Securities [Member] | |||
Note 9 - Fair Value Measurements (Details) - Assets Measured at Fair Value on a Recurring Basis [Line Items] | |||
Investment securities available for sale | 22,415 | 26,407 | |
Fair Value, Inputs, Level 2 [Member] | Commercial Mortgage Backed Securities [Member] | |||
Note 9 - Fair Value Measurements (Details) - Assets Measured at Fair Value on a Recurring Basis [Line Items] | |||
Investment securities available for sale | 2,632 | 2,919 | |
Fair Value, Inputs, Level 2 [Member] | US States and Political Subdivisions Debt Securities [Member] | |||
Note 9 - Fair Value Measurements (Details) - Assets Measured at Fair Value on a Recurring Basis [Line Items] | |||
Investment securities available for sale | 168,252 | 181,799 | |
Fair Value, Inputs, Level 2 [Member] | Residential Collateralized Mortgage Obligations [Member] | |||
Note 9 - Fair Value Measurements (Details) - Assets Measured at Fair Value on a Recurring Basis [Line Items] | |||
Investment securities available for sale | 202,750 | 222,457 | |
Fair Value, Inputs, Level 2 [Member] | Asset-backed Securities [Member] | |||
Note 9 - Fair Value Measurements (Details) - Assets Measured at Fair Value on a Recurring Basis [Line Items] | |||
Investment securities available for sale | 2,659 | 8,313 | |
Fair Value, Inputs, Level 2 [Member] | FHLMC And FNMA Stock [Member] | |||
Note 9 - Fair Value Measurements (Details) - Assets Measured at Fair Value on a Recurring Basis [Line Items] | |||
Investment securities available for sale | 5,779 | ||
Fair Value, Inputs, Level 2 [Member] | Domestic Corporate Debt Securities [Member] | |||
Note 9 - Fair Value Measurements (Details) - Assets Measured at Fair Value on a Recurring Basis [Line Items] | |||
Investment securities available for sale | 792,121 | 512,239 | |
Fair Value, Inputs, Level 2 [Member] | Other Securities [Member] | |||
Note 9 - Fair Value Measurements (Details) - Assets Measured at Fair Value on a Recurring Basis [Line Items] | |||
Investment securities available for sale | $ 1,858 | $ 1,876 | |
[1] | Federal Home Loan Mortgage Corporation | ||
[2] | Federal National Mortgage Association |
Note 9 - Fair Value Measureme58
Note 9 - Fair Value Measurements (Details) - Assets Measured at Fair Value on a Nonrecurring Basis - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Note 9 - Fair Value Measurements (Details) - Assets Measured at Fair Value on a Nonrecurring Basis [Line Items] | ||
Fair value | $ 26,992 | $ 23,459 |
Total losses | (243) | (1,242) |
Other Real Estate Owned [Member] | ||
Note 9 - Fair Value Measurements (Details) - Assets Measured at Fair Value on a Nonrecurring Basis [Line Items] | ||
Fair value | 9,260 | 6,374 |
Total losses | (243) | (358) |
Impaired Loans [Member] | ||
Note 9 - Fair Value Measurements (Details) - Assets Measured at Fair Value on a Nonrecurring Basis [Line Items] | ||
Fair value | 17,732 | 17,085 |
Total losses | (884) | |
Fair Value, Inputs, Level 2 [Member] | ||
Note 9 - Fair Value Measurements (Details) - Assets Measured at Fair Value on a Nonrecurring Basis [Line Items] | ||
Fair value | 14,044 | |
Fair Value, Inputs, Level 2 [Member] | Other Real Estate Owned [Member] | ||
Note 9 - Fair Value Measurements (Details) - Assets Measured at Fair Value on a Nonrecurring Basis [Line Items] | ||
Fair value | 6,374 | |
Fair Value, Inputs, Level 2 [Member] | Impaired Loans [Member] | ||
Note 9 - Fair Value Measurements (Details) - Assets Measured at Fair Value on a Nonrecurring Basis [Line Items] | ||
Fair value | 7,670 | |
Fair Value, Inputs, Level 3 [Member] | ||
Note 9 - Fair Value Measurements (Details) - Assets Measured at Fair Value on a Nonrecurring Basis [Line Items] | ||
Fair value | 26,992 | 9,415 |
Fair Value, Inputs, Level 3 [Member] | Other Real Estate Owned [Member] | ||
Note 9 - Fair Value Measurements (Details) - Assets Measured at Fair Value on a Nonrecurring Basis [Line Items] | ||
Fair value | 9,260 | |
Fair Value, Inputs, Level 3 [Member] | Impaired Loans [Member] | ||
Note 9 - Fair Value Measurements (Details) - Assets Measured at Fair Value on a Nonrecurring Basis [Line Items] | ||
Fair value | $ 17,732 | $ 9,415 |
Note 9 - Fair Value Measureme59
Note 9 - Fair Value Measurements (Details) - Fair Value Estimates for Financial Instruments, Excluding Financial Instruments Recorded at Fair Value on a Recurring Basis - Fair Value Hierarchy [Domain] - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Reported Value Measurement [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Cash and due from banks | $ 289,606 | $ 380,836 |
Investment securities held to maturity | 1,159,581 | 1,038,658 |
Loans | 1,600,443 | 1,668,805 |
Financial Liabilities: | ||
Deposits | 4,354,844 | 4,349,191 |
Short-term borrowed funds | 82,747 | 89,784 |
Federal Home Loan Bank advances | 20,015 | |
Estimate of Fair Value Measurement [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Cash and due from banks | 289,606 | 380,836 |
Investment securities held to maturity | 1,164,603 | 1,048,562 |
Loans | 1,613,443 | 1,685,048 |
Financial Liabilities: | ||
Deposits | 4,354,172 | 4,348,958 |
Short-term borrowed funds | $ 82,747 | 89,784 |
Federal Home Loan Bank advances | $ 20,014 |
Note 10 - Commitments and Con60
Note 10 - Commitments and Contingent Liabilities (Details) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Note 10 - Commitments and Contingent Liabilities (Details) [Line Items] | ||
Unfunded Loan Commitments | $ 304,499 | $ 312,694 |
Other Liabilities [Member] | ||
Note 10 - Commitments and Contingent Liabilities (Details) [Line Items] | ||
Reserve for Unfunded Commitments | 2,693 | 2,693 |
Financial Standby Letter of Credit [Member] | ||
Note 10 - Commitments and Contingent Liabilities (Details) [Line Items] | ||
Letters of Credit Outstanding, Amount | 26,969 | 29,002 |
Standby Letters of Credit [Member] | ||
Note 10 - Commitments and Contingent Liabilities (Details) [Line Items] | ||
Letters of Credit Outstanding, Amount | $ 40 | $ 40 |
Note 11 - Earnings Per Common61
Note 11 - Earnings Per Common Share (Details) - shares shares in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Employee Stock Option [Member] | ||||
Note 11 - Earnings Per Common Share (Details) [Line Items] | ||||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 1,376 | 1,050 | 1,575 | 929 |
Note 11 - Earnings Per Common62
Note 11 - Earnings Per Common Share (Details) - Earnings Per Common Share and Diluted Earnings Per Common Share - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Earnings Per Common Share and Diluted Earnings Per Common Share [Abstract] | ||||
Net income applicable to common equity (numerator) (in Dollars) | $ 14,761 | $ 15,157 | $ 29,318 | $ 30,464 |
Basic earnings per common share | ||||
Weighted average number of common shares outstanding - basic | 25,514 | 26,175 | 25,582 | 26,303 |
Add common stock equivalents for options | 22 | 63 | 13 | 84 |
Weighted average number of common shares outstanding - diluted (denominator) | 25,536 | 26,238 | 25,595 | 26,387 |
Diluted earnings per common share (in Dollars per share) | $ 0.58 | $ 0.58 | $ 1.15 | $ 1.15 |
Basic earnings per common share (in Dollars per share) | $ 0.58 | $ 0.58 | $ 1.15 | $ 1.16 |
Uncategorized Items - wabc-2015
Label | Element | Value |
Fair Value, Inputs, Level 1 [Member] | ||
Investment securities held to maturity, fair value (in Dollars) | us-gaap_HeldToMaturitySecuritiesFairValue | $ 1,077 |
Federal Home Loan Bank Borrowings, Fair Value Disclosure | us-gaap_FederalHomeLoanBankBorrowingsFairValueDisclosure | 20,014 |
Cash and Cash Equivalents, Fair Value Disclosure | us-gaap_CashAndCashEquivalentsFairValueDisclosure | 289,606 |
Cash and Cash Equivalents, Fair Value Disclosure | us-gaap_CashAndCashEquivalentsFairValueDisclosure | 380,836 |
Fair Value, Inputs, Level 2 [Member] | ||
Deposits, Fair Value Disclosure | us-gaap_DepositsFairValueDisclosure | 3,964,048 |
Deposits, Fair Value Disclosure | us-gaap_DepositsFairValueDisclosure | 4,014,203 |
Investment securities held to maturity, fair value (in Dollars) | us-gaap_HeldToMaturitySecuritiesFairValue | 1,047,485 |
Investment securities held to maturity, fair value (in Dollars) | us-gaap_HeldToMaturitySecuritiesFairValue | 1,164,603 |
ShortTermBorrowedFundsFairValueDisclosure | wabc_ShortTermBorrowedFundsFairValueDisclosure | 82,747 |
ShortTermBorrowedFundsFairValueDisclosure | wabc_ShortTermBorrowedFundsFairValueDisclosure | 89,784 |
Fair Value, Inputs, Level 3 [Member] | ||
Deposits, Fair Value Disclosure | us-gaap_DepositsFairValueDisclosure | 339,969 |
Deposits, Fair Value Disclosure | us-gaap_DepositsFairValueDisclosure | 384,910 |
Loans Receivable, Fair Value Disclosure | us-gaap_LoansReceivableFairValueDisclosure | 1,613,443 |
Loans Receivable, Fair Value Disclosure | us-gaap_LoansReceivableFairValueDisclosure | $ 1,685,048 |