Document And Entity Information
Document And Entity Information - shares | 6 Months Ended | |
Jun. 30, 2019 | Jul. 29, 2019 | |
Document Information [Line Items] | ||
Entity Central Index Key | 0000311094 | |
Entity Shell Company | false | |
Entity Registrant Name | WESTAMERICA BANCORPORATION | |
Amendment Flag | false | |
Current Fiscal Year End Date | --12-31 | |
Document Fiscal Period Focus | Q2 | |
Document Fiscal Year Focus | 2019 | |
Entity Small Business | false | |
Entity Emerging Growth Company | false | |
Document Quarterly Report | true | |
Document Transition Report | false | |
Document Type | 10-Q | |
Document Period End Date | Jun. 30, 2019 | |
Entity File Number | 001-09383 | |
Entity Incorporation, State or Country Code | CA | |
Entity Tax Identification Number | 94-2156203 | |
Entity Address, Address Line One | 1108 Fifth Avenue | |
Entity Address, City or Town | San Rafael | |
Entity Address, State or Province | CA | |
Entity Address, Postal Zip Code | 94901 | |
City Area Code | 707 | |
Local Phone Number | 863-6000 | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Large Accelerated Filer | |
Title of 12(b) Security | Common Stock | |
Trading Symbol | WABC | |
Security Exchange Name | NASDAQ | |
Entity Common Stock, Shares Outstanding | 26,981,750 |
Consolidated Balance Sheets (Cu
Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
Assets: | ||
Cash and due from banks | $ 418,586 | $ 420,284 |
Equity securities | 1,797 | 1,747 |
Debt securities available for sale | 2,775,899 | 2,654,670 |
Debt securities held to maturity, fair value of: $872,976 at June 30, 2019 and $971,445 at December 31, 2018 | 867,989 | 984,609 |
Loans | 1,161,712 | 1,207,202 |
Allowance for loan losses | (20,117) | (21,351) |
Loans, net of allowance for loan losses | 1,141,595 | 1,185,851 |
Other real estate owned | 43 | 350 |
Premises and equipment, net | 34,014 | 34,507 |
Identifiable intangibles, net | 1,540 | 1,929 |
Goodwill | 121,673 | 121,673 |
Other assets | 160,312 | 162,906 |
Total Assets | 5,523,448 | 5,568,526 |
Liabilities: | ||
Noninterest-bearing | 2,163,841 | 2,243,251 |
Interest-bearing deposits | 2,566,421 | 2,623,588 |
Total deposits | 4,730,262 | 4,866,839 |
Short-term borrowed funds | 54,581 | 51,247 |
Other liabilities | 45,168 | 34,849 |
Total Liabilities | 4,830,011 | 4,952,935 |
Contingencies (Note 10) | ||
Shareholders' Equity: | ||
Common stock (no par value), authorized - 150,000 shares Issued and outstanding: 26,962 at June 30, 2019 and 26,730 at December 31, 2018 | 459,369 | 448,351 |
Deferred compensation | 771 | 1,395 |
Accumulated other comprehensive income (loss) | 13,124 | (39,996) |
Retained earnings | 220,173 | 205,841 |
Total Shareholders' Equity | 693,437 | 615,591 |
Total Liabilities and Shareholders' Equity | $ 5,523,448 | $ 5,568,526 |
Consolidated Balance Sheets (_2
Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) shares in Thousands, $ / shares in Thousands, $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
Debt securities held to maturity, fair value | $ 872,976 | $ 971,445 |
Common stock, no par value (in dollars per share) | $ 0 | $ 0 |
Common stock, authorized (in shares) | 150,000 | 150,000 |
Common stock, issued (in shares) | 26,962 | 26,730 |
Common stock, outstanding (in shares) | 26,962 | 26,730 |
Consolidated Statements of Inco
Consolidated Statements of Income (Unaudited) - USD ($) shares in Thousands, $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Interest and Loan Fee Income: | ||||
Loans | $ 14,822 | $ 14,957 | $ 29,619 | $ 29,654 |
Equity securities | 99 | 86 | 197 | 171 |
Debt securities available for sale | 17,823 | 14,323 | 35,344 | 27,874 |
Debt securities held to maturity | 4,924 | 6,216 | 10,253 | 12,390 |
Interest-bearing cash | 1,958 | 1,764 | 3,696 | 3,572 |
Total Interest and Loan Fee Income | 39,626 | 37,346 | 79,109 | 73,661 |
Interest Expense: | ||||
Deposits | 478 | 449 | 963 | 899 |
Short-term borrowed funds | 9 | 10 | 18 | 19 |
Total Interest Expense | 487 | 459 | 981 | 918 |
Net Interest and Loan Fee Income | 39,139 | 36,887 | 78,128 | 72,743 |
Provision for Loan Losses | 0 | 0 | 0 | 0 |
Net Interest and Loan Fee Income After Provision for Loan Losses | 39,139 | 36,887 | 78,128 | 72,743 |
Noninterest Income: | ||||
Life insurance gains | 433 | 0 | 433 | 0 |
Equity securities gains (losses) | 26 | (14) | 50 | (50) |
Other noninterest income | 889 | 920 | 1,847 | 1,982 |
Total Noninterest Income | 12,288 | 11,769 | 23,867 | 23,724 |
Noninterest Expense: | ||||
Salaries and related benefits | 13,090 | 13,186 | 26,198 | 26,537 |
Occupancy and equipment | 4,916 | 4,864 | 9,964 | 9,555 |
Outsourced data processing services | 2,367 | 2,299 | 4,736 | 4,639 |
Loss contingency | 553 | 0 | 553 | 0 |
Professional fees | 481 | 871 | 1,146 | 1,656 |
Courier service | 451 | 422 | 893 | 885 |
Amortization of identifiable intangibles | 79 | 453 | 389 | 1,023 |
Other noninterest expense | 3,624 | 3,646 | 6,865 | 7,468 |
Total Noninterest Expense | 25,561 | 25,741 | 50,744 | 51,763 |
Income Before Income Taxes | 25,866 | 22,915 | 51,251 | 44,704 |
Provision for income taxes | 6,241 | 4,905 | 11,980 | 9,188 |
Net Income | $ 19,625 | $ 18,010 | $ 39,271 | $ 35,516 |
Average Common Shares Outstanding (in shares) | 26,942 | 26,630 | 26,892 | 26,581 |
Average Diluted Common Shares Outstanding (in shares) | 26,987 | 26,728 | 26,950 | 26,696 |
Per Common Share Data: | ||||
Basic earnings (in dollars per share) | $ 0.73 | $ 0.68 | $ 1.46 | $ 1.34 |
Diluted earnings (in dollars per share) | 0.73 | 0.67 | 1.46 | 1.33 |
Dividends paid (in dollars per share) | $ 0.41 | $ 0.40 | $ 0.81 | $ 0.80 |
Deposit Account [Member] | ||||
Noninterest Income: | ||||
Noninterest income revenue | $ 4,493 | $ 4,645 | $ 8,997 | $ 9,397 |
Credit Card, Merchant Discount [Member] | ||||
Noninterest Income: | ||||
Noninterest income revenue | 2,657 | 2,305 | 5,215 | 4,725 |
Debit Card [Member] | ||||
Noninterest Income: | ||||
Noninterest income revenue | 1,641 | 1,698 | 3,148 | 3,303 |
Fiduciary and Trust [Member] | ||||
Noninterest Income: | ||||
Noninterest income revenue | 749 | 726 | 1,466 | 1,469 |
ATM Processing Fees [Member] | ||||
Noninterest Income: | ||||
Noninterest income revenue | 722 | 698 | 1,355 | 1,362 |
Financial Service, Other [Member] | ||||
Noninterest Income: | ||||
Noninterest income revenue | 585 | 650 | 1,162 | 1,281 |
Financial Services Commission [Member] | ||||
Noninterest Income: | ||||
Noninterest income revenue | $ 93 | $ 141 | $ 194 | $ 255 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income (Loss) (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Net income | $ 19,625 | $ 18,010 | $ 39,271 | $ 35,516 |
Other comprehensive income (loss): | ||||
Changes in net unrealized gains (losses) on debt securities available for sale | 34,602 | (9,154) | 75,415 | (42,000) |
Deferred tax (expense) benefit | (10,229) | 2,706 | (22,295) | 12,415 |
Changes in net unrealized gains (losses) on debt securities available for sale, net of tax | 24,373 | (6,448) | 53,120 | (29,585) |
Total comprehensive income | $ 43,998 | $ 11,562 | $ 92,391 | $ 5,931 |
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 (in shares) at Dec. 31, 2017 | 26,425 | ||||
Balance at Dec. 31, 2017 | $ 431,734 | $ 1,533 | $ (16,832) | $ 173,804 | $ 590,239 |
Cumulative effect at Dec. 31, 2017 | 142 | (142) | |||
Adjusted Balance (in shares) at Dec. 31, 2017 | 26,425 | ||||
Adjusted Balance at Dec. 31, 2017 | $ 431,734 | 1,533 | (16,690) | 173,662 | 590,239 |
Reclass stranded tax effects resulting from the Tax Cuts and Jobs Act | (3,625) | 3,625 | |||
Net income for the period | 17,506 | 17,506 | |||
Other comprehensive income (loss) | (23,137) | (23,137) | |||
Exercise of stock options (in shares) | 166 | ||||
Exercise of stock options | $ 7,534 | 7,534 | |||
Stock based compensation | 525 | 525 | |||
Stock awarded to employees | $ 24 | 24 | |||
Dividends | (10,608) | (10,608) | |||
Balance (in shares) at Mar. 31, 2018 | 26,591 | ||||
Balance at Mar. 31, 2018 | $ 439,817 | 1,533 | (43,452) | 184,185 | 582,083 |
Balance (in shares) at Dec. 31, 2017 | 26,425 | ||||
Balance at Dec. 31, 2017 | $ 431,734 | 1,533 | (16,832) | 173,804 | 590,239 |
Cumulative effect at Dec. 31, 2017 | 142 | (142) | |||
Adjusted Balance (in shares) at Dec. 31, 2017 | 26,425 | ||||
Adjusted Balance at Dec. 31, 2017 | $ 431,734 | 1,533 | (16,690) | 173,662 | 590,239 |
Net income for the period | 35,516 | ||||
Balance (in shares) at Jun. 30, 2018 | 26,649 | ||||
Balance at Jun. 30, 2018 | $ 443,338 | 1,533 | (49,900) | 191,167 | 586,138 |
Balance (in shares) at Mar. 31, 2018 | 26,591 | ||||
Balance at Mar. 31, 2018 | $ 439,817 | 1,533 | (43,452) | 184,185 | 582,083 |
Net income for the period | 18,010 | 18,010 | |||
Other comprehensive income (loss) | (6,448) | (6,448) | |||
Exercise of stock options (in shares) | 46 | ||||
Exercise of stock options | $ 1,949 | 1,949 | |||
Stock based compensation | 525 | 525 | |||
Stock awarded to employees | $ 53 | 53 | |||
Dividends | (10,653) | (10,653) | |||
Restricted stock activity (in shares) | 20 | ||||
Restricted stock activity | $ 1,143 | 1,143 | |||
Stock awarded to employees (in shares) | 1 | ||||
Retirement of common stock (in shares) | (9) | ||||
Retirement of common stock | $ (149) | (375) | (524) | ||
Balance (in shares) at Jun. 30, 2018 | 26,649 | ||||
Balance at Jun. 30, 2018 | $ 443,338 | 1,533 | (49,900) | 191,167 | 586,138 |
Balance (in shares) at Dec. 31, 2018 | 26,730 | ||||
Balance at Dec. 31, 2018 | $ 448,351 | 1,395 | (39,996) | 205,841 | 615,591 |
Cumulative effect at Dec. 31, 2018 | (2,801) | (2,801) | |||
Adjusted Balance (in shares) at Dec. 31, 2018 | 26,730 | ||||
Adjusted Balance at Dec. 31, 2018 | $ 448,351 | 1,395 | (39,996) | 203,040 | 612,790 |
Net income for the period | 19,646 | 19,646 | |||
Other comprehensive income (loss) | 28,747 | 28,747 | |||
Exercise of stock options (in shares) | 120 | ||||
Exercise of stock options | $ 5,771 | 5,771 | |||
Stock based compensation | 541 | 541 | |||
Stock awarded to employees | 17 | 17 | |||
Dividends | (10,745) | (10,745) | |||
Restricted stock activity | $ 624 | (624) | |||
Shares issued from stock warrant exercise, net of repurchase (in shares) | 51 | ||||
Balance (in shares) at Mar. 31, 2019 | 26,901 | ||||
Balance at Mar. 31, 2019 | $ 455,304 | 771 | (11,249) | 211,941 | 656,767 |
Balance (in shares) at Dec. 31, 2018 | 26,730 | ||||
Balance at Dec. 31, 2018 | $ 448,351 | 1,395 | (39,996) | 205,841 | 615,591 |
Cumulative effect at Dec. 31, 2018 | (2,801) | (2,801) | |||
Adjusted Balance (in shares) at Dec. 31, 2018 | 26,730 | ||||
Adjusted Balance at Dec. 31, 2018 | $ 448,351 | 1,395 | (39,996) | 203,040 | 612,790 |
Net income for the period | 39,271 | ||||
Balance (in shares) at Jun. 30, 2019 | 26,962 | ||||
Balance at Jun. 30, 2019 | $ 459,369 | 771 | 13,124 | 220,173 | 693,437 |
Balance (in shares) at Mar. 31, 2019 | 26,901 | ||||
Balance at Mar. 31, 2019 | $ 455,304 | 771 | (11,249) | 211,941 | 656,767 |
Net income for the period | 19,625 | 19,625 | |||
Other comprehensive income (loss) | 24,373 | 24,373 | |||
Exercise of stock options (in shares) | 50 | ||||
Exercise of stock options | $ 2,539 | 2,539 | |||
Stock based compensation | 541 | 541 | |||
Stock awarded to employees | $ 48 | 48 | |||
Dividends | (11,041) | (11,041) | |||
Restricted stock activity (in shares) | 18 | ||||
Restricted stock activity | $ 1,073 | 1,073 | |||
Stock awarded to employees (in shares) | 1 | ||||
Retirement of common stock (in shares) | (8) | ||||
Retirement of common stock | $ (136) | (352) | (488) | ||
Balance (in shares) at Jun. 30, 2019 | 26,962 | ||||
Balance at Jun. 30, 2019 | $ 459,369 | $ 771 | $ 13,124 | $ 220,173 | $ 693,437 |
Consolidated Statements of Ch_2
Consolidated Statements of Changes in Shareholders' Equity (Unaudited) (Parentheticals) - $ / shares | 3 Months Ended | |||
Jun. 30, 2019 | Mar. 31, 2019 | Jun. 30, 2018 | Mar. 31, 2018 | |
Dividends per share (in dollars per share) | $ 0.41 | $ 0.40 | $ 0.40 | $ 0.40 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2019 | Jun. 30, 2018 | |
Operating Activities: | ||
Net income | $ 39,271 | $ 35,516 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Depreciation and amortization/accretion | 9,852 | 12,594 |
Provision for loan losses | 0 | 0 |
Net amortization of deferred loan fees | (215) | (112) |
Increase in interest income receivable | (673) | (1,375) |
(Increase) decrease in income taxes receivable | (6,549) | 2,556 |
Decrease (increase) in net deferred tax asset | 4,902 | (204) |
Increase in other assets | (20,013) | (346) |
Stock option compensation expense | 1,082 | 1,050 |
Increase in interest expense payable | 44 | 50 |
(Decrease) increase in other liabilities | 12,323 | 137 |
Equity securities (gains) losses | (50) | 50 |
Life insurance gains | (433) | 0 |
Net writedown of premises and equipment | 0 | 3 |
Net gain on sale of foreclosed assets | 0 | (46) |
Writedown of foreclosed assets | 0 | 27 |
Net Cash Provided by Operating Activities | 39,541 | 49,900 |
Investing Activities: | ||
Net repayments of loans | 44,721 | 89,041 |
Proceeds from life insurance policies | 1,273 | 0 |
Purchases of debt securities available for sale | (418,223) | (439,212) |
Proceeds from sale/maturity/calls of debt securities available for sale | 368,216 | 220,037 |
Proceeds from maturity/calls of debt securities held to maturity | 111,099 | 78,551 |
Purchases of premises and equipment | (1,425) | (2,309) |
Proceeds from sale of foreclosed assets | 307 | 506 |
Net Cash Provided by (Used in) Investing Activities | 105,968 | (53,386) |
Financing Activities: | ||
Net change in deposits | (136,577) | 59,509 |
Net change in short-term borrowings | 3,334 | 10,423 |
Exercise of stock options | 8,310 | 9,483 |
Retirement of common stock | (488) | (524) |
Common stock dividends paid | (21,786) | (21,261) |
Net Cash (Used in) Provided by Financing Activities | (147,207) | 57,630 |
Net Change In Cash and Due from Banks | (1,698) | 54,144 |
Cash and Due from Banks at Beginning of Period | 420,284 | 575,002 |
Cash and Due from Banks at End of Period | 418,586 | 629,146 |
Supplemental disclosure of non cash activities: | ||
Right-of-use assets acquired in exchange for operating lease liabilities | 23,087 | 0 |
Amount recognized upon initial adoption of ASU 2016-02 included above | 15,325 | 0 |
Loan collateral transferred to other real estate owned | 0 | 0 |
Securities purchases pending settlement | 0 | 3,159 |
Supplemental disclosure of cash flow activities: | ||
Cash paid for amounts included in operating lease liabilities | 3,411 | 0 |
Interest paid for the period | 874 | 885 |
Income tax payments for the period | $ 12,910 | $ 6,776 |
Note 1 - Basis of Presentation
Note 1 - Basis of Presentation | 6 Months Ended |
Jun. 30, 2019 | |
Notes to Financial Statements | |
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block] | Note 1: 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 six June 30, 2019 not 10 December 31, 2018. |
Note 2 - Accounting Policies
Note 2 - Accounting Policies | 6 Months Ended |
Jun. 30, 2019 | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | Note 2: The most significant accounting policies followed by the Company are presented in Note 1 10 December 31, 2018. 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 third Certain amounts in prior periods have been reclassified to conform to the current presentation. Recently Adopted Accounting Standards In the six months ended June 30, 2019, the Company adopted the following new accounting guidance: FASB ASU 2016 - 02, Leases (Topic 842 ), was issued February 25, 2016. The provisions of the new standard require lessees to recognize most leases on-balance sheet, increasing reported assets and liabilities. Lessor accounting remains substantially similar to current U.S. GAAP. The Company adopted the ASU provisions effective January 1, 2019, and elected the modified retrospective transition approach. The Company elected the package of practical expedients provided in the ASU, which allowed the Company to rely on lease classification determinations made under prior accounting guidance and forego reevaluation of (i) whether any existing contracts are or contain a lease, (ii) whether existing leases are operating or finance leases, and (iii) the initial direct cost for any existing leases. The Company also elected to combine lease and non-lease components and exempt short-term leases with an original term of one year or less from on-balance sheet recognition. The implementing entry recognized a lease liability of million and right-of-use asset of million for facilities leases. The change in occupancy and equipment expense was not material. FASB ASU 2017 - 08 , Receivables – Non-Refundable Fees and Other Costs (Subtopic 310 - 20 ): Premium Amortization on Purchased Callable Debt Securities , was issued March 2017. The ASU shortens the amortization period for certain callable debt securities held at a premium. Specifically, the ASU requires the premium to be amortized to the earliest call date. The ASU does not require an accounting change for securities held at a discount; the discount continues to be amortized to maturity. The Company adopted the ASU provisions on January 1, 2019. The implementing entry reduced the carrying value of investment securities, specifically obligations of states and political subdivisions, by million and reduced retained earnings by million, net of tax. The change in premium amortization method was not material to revenue recognition. FASB ASU 2017 - 12 , Derivatives and Hedging (Topic 815 ): Targeted Improvements to Accounting for Hedging Activities , was issued August 2017. The ASU expands and refines hedge accounting for both nonfinancial and financial risk components and aligns the recognition and presentation of the effects of the hedging instrument and the hedged item in the financial statements. The ASU also provides for a one -time reclassification of prepayable assets from held-to-maturity (HTM) to available for sale (AFS) regardless of derivative use. The Company adopted the ASU provisions on January 1, 2019. The Company does not currently engage in trading activities or use derivative instruments to control interest rate risk, even though such activities may be permitted with the approval of the Company’s Board of Directors. The Company evaluated the prepayable assets in the HTM portfolio and did not effect a one -time reclassification of prepayable assets from HTM to the AFS upon implementation. Recently Issued Accounting Standards FASB ASU 2016 - 13, Financial Instruments – Credit Losses (Topic 326 ): Measurement of Credit Losses on Financial Instruments, was issued on June 16, 2016. The ASU significantly changes estimates for credit losses related to financial assets measured at amortized cost and certain other contracts. For estimating credit losses, the FASB is replacing the incurred loss model with the current expected credit loss (CECL) model, which will accelerate recognition of credit losses. Additionally, credit losses relating to debt securities available-for-sale will be recorded through an allowance for credit losses under the new standard. The Company will also be required to provide additional disclosures related to the financial assets within the scope of the new standard. The Company will be required to adopt the ASU provisions on January 1, 2020. Management has evaluated available data, defined portfolio segments of loans with similar attributes, and selected loss estimate models for each identified loan portfolio segment. Management has preliminarily measured historical loss rates for each portfolio segment. Management has also segmented debt securities held to maturity, selected methods to estimate losses for each segment, and preliminarily measured a loss estimate. The ultimate adjustment to the allowance for loan losses will be accomplished through an offsetting after-tax adjustment to shareholders’ equity. Economic conditions and the composition of the Company’s loan portfolio and debt securities held to maturity at the time of adoption will influence the extent of the adopting accounting adjustment. Management expects to develop an aggregate loss estimate by December 31, 2019. FASB ASU 2018 - 13 , Fair Value Measurements (Topic 820 ): Disclosure Framework - Changes to the Disclosure Requirements for Fair Value Measurement , was issued August 2018. The ASU is part of the disclosure framework project, where the primary focus is to improve the effectiveness of disclosures in the financial statements. The ASU removes, modifies and adds disclosure requirements related to Fair Value Measurements. The provisions of the ASU are effective January 1, 2020 with the option to early adopt any removed or modified disclosures upon issuance of the ASU. The Company early adopted the provisions to remove and/or modify relevant disclosures in the “Fair Value Measurements” note to the unaudited consolidated financial statements. The requirement to include additional disclosures will be adopted by the Company January 1, 2020. The additional disclosures will not affect the financial results upon adoption. |
Note 3 - Investment Securities
Note 3 - Investment Securities | 6 Months Ended |
Jun. 30, 2019 | |
Notes to Financial Statements | |
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | Note 3: Effective January 1, 2018, 2016 01, The market value of equity securities was $1,797 thousand and $1,747 thousand at June 30, 2019 December 31, 2018, six June 30, 2019, six June 30, 2018, An analysis of the amortized cost and fair value by major categories of debt securities available for sale, which are carried at fair value with net unrealized gains (losses) reported on an after-tax basis as a component of cumulative other comprehensive income, and debt securities held to maturity, which are carried at amortized cost, follows: At June 30, 2019 Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses Value (In thousands) Debt securities available for sale U.S. Treasury securities $ 44,473 $ 100 $ - $ 44,573 Securities of U.S. Government sponsored entities 167,239 69 (170 ) 167,138 Agency residential mortgage-backed securities (MBS) 987,024 8,236 (8,314 ) 986,946 Non-agency residential MBS 109 3 - 112 Agency commercial MBS 5,635 5 (19 ) 5,621 Securities of U.S. Government entities 815 - (7 ) 808 Obligations of states and political subdivisions 172,268 3,486 (100 ) 175,654 Corporate securities 1,379,704 17,462 (2,119 ) 1,395,047 Total debt securities available for sale 2,757,267 29,361 (10,729 ) 2,775,899 Debt securities held to maturity Agency residential MBS 402,961 824 (3,861 ) 399,924 Non-agency residential MBS 2,610 96 - 2,706 Obligations of states and political subdivisions 462,418 7,947 (19 ) 470,346 Total debt securities held to maturity 867,989 8,867 (3,880 ) 872,976 Total $ 3,625,256 $ 38,228 $ (14,609 ) $ 3,648,875 At December 31, 2018 Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses Value (In thousands) Debt securities available for sale U.S. Treasury securities $ 139,572 $ 5 $ (3 ) $ 139,574 Securities of U.S. Government sponsored entities 167,228 65 (3,275 ) 164,018 Agency residential MBS 883,715 595 (30,439 ) 853,871 Non-agency residential MBS 113 1 - 114 Agency commercial MBS 1,869 - (27 ) 1,842 Securities of U.S. Government entities 1,128 - (9 ) 1,119 Obligations of states and political subdivisions 180,220 1,856 (2,985 ) 179,091 Corporate securities 1,337,608 1,075 (23,642 ) 1,315,041 Total debt securities available for sale 2,711,453 3,597 (60,380 ) 2,654,670 Debt securities held to maturity Agency residential MBS 447,332 249 (14,129 ) 433,452 Non-agency residential MBS 3,387 40 - 3,427 Obligations of states and political subdivisions 533,890 3,403 (2,727 ) 534,566 Total debt securities held to maturity 984,609 3,692 (16,856 ) 971,445 Total $ 3,696,062 $ 7,289 $ (77,236 ) $ 3,626,115 The amortized cost and fair value of debt securities by contractual maturity are shown in the following tables at the dates indicated: At June 30, 2019 Debt Securities Available Debt Securities Held for Sale to Maturity Amortized Fair Amortized Fair Cost Value Cost Value (In thousands) Maturity in years: 1 year or less $ 202,597 $ 202,637 $ 81,436 $ 81,589 Over 1 to 5 years 1,329,781 1,342,419 177,675 180,218 Over 5 to 10 years 193,678 199,098 202,280 207,471 Over 10 years 38,443 39,066 1,027 1,068 Subtotal 1,764,499 1,783,220 462,418 470,346 MBS 992,768 992,679 405,571 402,630 Total $ 2,757,267 $ 2,775,899 $ 867,989 $ 872,976 At December 31, 2018 Debt Securities Available Debt Securities Held for Sale to Maturity Amortized Fair Amortized Fair Cost Value Cost Value (In thousands) Maturity in years: 1 year or less $ 262,418 $ 261,976 $ 86,172 $ 86,148 Over 1 to 5 years 1,438,849 1,414,020 214,137 213,829 Over 5 to 10 years 85,817 85,877 232,544 233,515 Over 10 years 38,672 36,970 1,037 1,074 Subtotal 1,825,756 1,798,843 533,890 534,566 MBS 885,697 855,827 450,719 436,879 Total $ 2,711,453 $ 2,654,670 $ 984,609 $ 971,445 Expected maturities of mortgage-related 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 June 30, 2019 December 31, 2018, An analysis of the gross unrealized losses of the debt securities available for sale portfolio follows: Debt Securities Available for Sale At June 30, 2019 No. of Less than 12 months No. of 12 months or longer No. of Total Investment Unrealized Investment Unrealized Investment Unrealized Positions Fair Value Losses Positions Fair Value Losses Positions Fair Value Losses ($ in thousands) Securities of U.S. Government sponsored entities - $ - $ - 7 $ 77,714 $ (170 ) 7 $ 77,714 $ (170 ) Agency residential MBS - - - 54 533,982 (8,314 ) 54 533,982 (8,314 ) Agency commercial MBS - - - 1 1,833 (19 ) 1 1,833 (19 ) Securities of U.S. Government entities - - - 2 808 (7 ) 2 808 (7 ) Obligations of states and political subdivisions 2 1,054 - 25 10,643 (100 ) 27 11,697 (100 ) Corporate securities 2 10,692 (67 ) 32 275,533 (2,052 ) 34 286,225 (2,119 ) Total 4 $ 11,746 $ (67 ) 121 $ 900,513 $ (10,662 ) 125 $ 912,259 $ (10,729 ) An analysis of gross unrecognized losses of the debt securities held to maturity portfolio follows: Debt Securities Held to Maturity At June 30, 2019 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) Agency residential MBS 1 $ 55 $ - 63 $ 350,418 $ (3,861 ) 64 $ 350,473 $ (3,861 ) Obligations of states - - - 13 10,516 (19 ) 13 10,516 (19 ) Total 1 $ 55 $ - 76 $ 360,934 $ (3,880 ) 77 $ 360,989 $ (3,880 ) The unrealized losses on the Company’s debt securities were caused by market conditions for these types of investments, particularly changes in risk-free interest rates. The Company evaluates debt securities on a quarterly basis including changes in security ratings issued by rating agencies, changes in the financial condition of the issuer, and, for mortgage-backed 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. One corporate bond with an amortized cost of $15.0 million and a fair value of $14.2 million at June 30, 2019, The Company does not not not not June 30, 2019. The fair values of the debt securities could decline in the future if the general economy deteriorates, inflation increases, credit ratings decline, the issuer’s financial condition deteriorates, or the liquidity for debt securities declines. As a result, other than temporary impairments may As of June 30, 2019 December 31, 2018, An analysis of the gross unrealized losses of the debt securities available for sale portfolio follows: Debt Securities Available for Sale At December 31, 2018 No. of Less than 12 months No. of 12 months or longer No. of Total Investment Unrealized Investment Unrealized Investment Unrealized Positions Fair Value Losses Positions Fair Value Losses Positions Fair Value Losses ($ in thousands) U.S. Treasury securities 2 $ 54,805 $ (3 ) - $ - $ - 2 $ 54,805 $ (3 ) Securities of U.S. 1 990 (5 ) 9 117,963 (3,270 ) 10 118,953 (3,275 ) Agency residential MBS 8 107,497 (507 ) 58 640,210 (29,932 ) 66 747,707 (30,439 ) Agency commercial 1 1,842 (27 ) - - - 1 1,842 (27 ) Securities of U.S. - - - 2 1,119 (9 ) 2 1,119 (9 ) Obligations of states 32 26,452 (166 ) 71 67,121 (2,819 ) 103 93,573 (2,985 ) Corporate securities 38 308,157 (3,403 ) 79 722,740 (20,239 ) 117 1,030,897 (23,642 ) Total 82 $ 499,743 $ (4,111 ) 219 $ 1,549,153 $ (56,269 ) 301 $ 2,048,896 $ (60,380 ) An analysis of gross unrecognized losses of the debt securities held to maturity portfolio follows: Debt Securities Held to Maturity At December 31, 2018 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) Agency residential MBS 16 $ 8,495 $ (34 ) 78 $ 412,574 $ (14,095 ) 94 $ 421,069 $ (14,129 ) Non-agency residential 1 26 - - - - 1 26 - Obligations of states 97 83,633 (271 ) 142 151,546 (2,456 ) 239 235,179 (2,727 ) Total 114 $ 92,154 $ (305 ) 220 $ 564,120 $ (16,551 ) 334 $ 656,274 $ (16,856 ) 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, 2019 2018 2019 2018 (In thousands) Taxable $ 18,773 $ 15,598 $ 37,406 $ 30,547 Tax-exempt from regular federal income tax 4,073 5,027 8,388 9,888 Total interest income from investment securities $ 22,846 $ 20,625 $ 45,794 $ 40,435 |
Note 4 - Loans, Allowance for L
Note 4 - Loans, Allowance for Loan Losses and Other Real Estate Owned | 6 Months Ended |
Jun. 30, 2019 | |
Notes to Financial Statements | |
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | Note 4: At December 31, 2018, February 6, 2019. A summary of the major categories of loans outstanding is shown in the following tables at the dates indicated. At June 30, At December 31, 2019 2018 (In thousands) Commercial $ 243,577 $ 275,080 Commercial Real Estate 577,665 580,480 Construction 5,482 3,982 Residential Real Estate 37,813 44,866 Consumer Installment & Other 297,175 302,794 Total $ 1,161,712 $ 1,207,202 Total loans outstanding at December 31, 2018, Changes in the accretable yield for purchased loans were as follows: For the For the Six Months Ended Year Ended June 30, 2019 December 31, 2018 Accretable yield: (In thousands) Balance at the beginning of the period $ 182 $ 738 Reclassification from nonaccretable difference 1,103 1,119 Accretion (257 ) (1,675 ) Balance at the end of the period $ 1,028 $ 182 Accretion $ (257 ) $ (1,675 ) Change in FDIC indemnification - 2 (Increase) in interest income $ (257 ) $ (1,673 ) The following summarizes activity in the allowance for loan losses: Allowance for Loan Losses For the Three Months Ended June 30, 2019 Consumer Commercial Residential Installment Commercial Real Estate Construction Real Estate and Other Unallocated Total (In thousands) Allowance for loan losses: Balance at beginning of period $ 6,506 $ 3,927 $ 853 $ 261 $ 5,481 $ 3,449 $ 20,477 (Reversal) provision (1,346 ) 116 264 (23 ) 386 603 - Chargeoffs (48 ) - - - (925 ) - (973 ) Recoveries 123 14 - - 476 - 613 Total allowance for loan losses $ 5,235 $ 4,057 $ 1,117 $ 238 $ 5,418 $ 4,052 $ 20,117 Allowance for Loan Losses For the Six Months Ended June 30, 2019 Consumer Commercial Residential Installment Commercial Real Estate Construction Real Estate and Other Unallocated Total (In thousands) Allowance for loan losses: Balance at beginning of period $ 6,311 $ 3,884 $ 1,465 $ 869 $ 5,645 $ 3,177 $ 21,351 (Reversal) provision (1,221 ) 147 (348 ) (631 ) 1,178 875 - Chargeoffs (71 ) - - - (2,293 ) - (2,364 ) Recoveries 216 26 - - 888 - 1,130 Total allowance for loan losses $ 5,235 $ 4,057 $ 1,117 $ 238 $ 5,418 $ 4,052 $ 20,117 Allowance for Loan Losses For the Three Months Ended June 30, 2018 Consumer Commercial Residential Installment Commercial Real Estate Construction Real Estate and Other Unallocated Total (In thousands) Allowance for loan losses: Balance at beginning of period $ 8,517 $ 3,824 $ 175 $ 908 $ 5,739 $ 3,918 $ 23,081 (Reversal) provision (662 ) (35 ) 35 156 665 (159 ) - Chargeoffs - - - - (805 ) - (805 ) Recoveries 420 - - - 344 - 764 Total allowance for loan losses $ 8,275 $ 3,789 $ 210 $ 1,064 $ 5,943 $ 3,759 $ 23,040 Allowance for Loan Losses For the Six Months Ended June 30, 2018 Consumer Commercial Residential Installment Commercial Real Estate Construction Real Estate and Other Unallocated Total (In thousands) Allowance for loan losses: Balance at beginning of period $ 7,746 $ 3,849 $ 335 $ 995 $ 6,418 $ 3,666 $ 23,009 (Reversal) provision (679 ) (60 ) (125 ) 69 702 93 - Chargeoffs (41 ) - - - (2,170 ) - (2,211 ) Recoveries 1,249 - - - 993 - 2,242 Total allowance for loan losses $ 8,275 $ 3,789 $ 210 $ 1,064 $ 5,943 $ 3,759 $ 23,040 The allowance for loan losses and recorded investment in loans evaluated for impairment were as follows: Allowance for Loan Losses and Recorded Investment in Loans Evaluated for Impairment At June 30, 2019 Commercial Commercial Real Estate Construction Residential Real Estate Consumer Installment and Other Unallocated Total (In thousands) Allowance for loan losses: Individually evaluated for impairment $ 2,587 $ - $ - $ - $ - $ - $ 2,587 Collectively evaluated for impairment 2,648 4,057 1,117 238 5,418 4,052 17,530 Total $ 5,235 $ 4,057 $ 1,117 $ 238 $ 5,418 $ 4,052 $ 20,117 Carrying value of loans: Individually evaluated for impairment $ 9,368 $ 6,531 $ - $ 195 $ 77 $ - $ 16,171 Collectively evaluated for impairment 234,209 571,134 5,482 37,618 297,098 - 1,145,541 Total $ 243,577 $ 577,665 $ 5,482 $ 37,813 $ 297,175 $ - $ 1,161,712 Allowance for Loan Losses and Recorded Investment in Loans Evaluated for Impairment At December 31, 2018 Commercial Commercial Real Estate Construction Residential Real Estate Consumer Installment and Other Unallocated Total (In thousands) Allowance for loan losses: Individually evaluated for impairment $ 2,752 $ - $ - $ - $ - $ - $ 2,752 Collectively evaluated for impairment 3,559 3,884 1,465 869 5,645 3,177 18,599 Total $ 6,311 $ 3,884 $ 1,465 $ 869 $ 5,645 $ 3,177 $ 21,351 Carrying value of loans: Individually evaluated for impairment $ 9,944 $ 8,438 $ - $ 717 $ 143 $ - $ 19,242 Collectively evaluated for impairment 265,136 572,042 3,982 44,149 302,651 - 1,187,960 Total $ 275,080 $ 580,480 $ 3,982 $ 44,866 $ 302,794 $ - $ 1,207,202 The Company’s customers are small businesses, professionals and consumers. Given the scale of these borrowers, corporate credit rating agencies do not The following summarizes the credit risk profile by internally assigned grade: Credit Risk Profile by Internally Assigned Grade At June 30, 2019 Commercial Commercial Real Estate Construction Residential Real Estate Consumer Installment and Other Total (In thousands) Grade: Pass $ 234,053 $ 566,359 $ 5,482 $ 36,076 $ 295,177 $ 1,137,147 Substandard 9,524 11,306 - 1,737 1,551 24,118 Doubtful - - - - 271 271 Loss - - - - 176 176 Total $ 243,577 $ 577,665 $ 5,482 $ 37,813 $ 297,175 $ 1,161,712 Credit Risk Profile by Internally Assigned Grade At December 31, 2018 Commercial Commercial Real Estate Construction Residential Real Estate Consumer Installment and Other Total (In thousands) Grade: Pass $ 264,634 $ 567,578 $ 3,982 $ 43,112 $ 300,553 $ 1,179,859 Substandard 10,446 12,902 - 1,754 1,556 26,658 Doubtful - - - - 135 135 Loss - - - - 550 550 Total $ 275,080 $ 580,480 $ 3,982 $ 44,866 $ 302,794 $ 1,207,202 Credit risk profile reflects internally assigned grades of purchased covered loans without regard to FDIC indemnification on $5,713 thousand in loans secured by residential real estate at December 31, 2018. February 6, 2019. The following tables summarize loans by delinquency and nonaccrual status: Summary of Loans by Delinquency and Nonaccrual Status At June 30, 2019 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 $ 243,187 $ 290 $ - $ - $ 100 $ 243,577 Commercial real estate 570,463 3,472 60 - 3,670 577,665 Construction 5,482 - - - - 5,482 Residential real estate 37,533 280 - - - 37,813 Consumer installment and other 293,684 2,404 761 249 77 297,175 Total $ 1,150,349 $ 6,446 $ 821 $ 249 $ 3,847 $ 1,161,712 Summary of Loans by Delinquency and Nonaccrual Status At December 31, 2018 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 $ 274,045 $ 781 $ 254 $ - $ - $ 275,080 Commercial real estate 574,853 617 785 - 4,225 580,480 Construction 3,982 - - - - 3,982 Residential real estate 43,372 789 189 - 516 44,866 Consumer installment and other 297,601 3,408 1,107 551 127 302,794 Total $ 1,193,853 $ 5,595 $ 2,335 $ 551 $ 4,868 $ 1,207,202 There wereno commitments to lend additional funds to borrowers whose loans were on nonaccrual status at June 30, 2019 December 31, 2018. The following summarizes impaired loans: Impaired Loans At June 30, 2019 At December 31, 2018 Unpaid Unpaid Recorded Principal Related Recorded Principal Related Investment Balance Allowance Investment Balance Allowance (In thousands) With no related allowance recorded: Commercial $ 755 $ 755 $ - $ 755 $ 759 $ - Commercial real estate 6,531 7,978 - 8,438 10,373 - Residential real estate 195 225 - 717 747 - Consumer installment and other 77 112 - 270 377 - Total with no related allowance recorded 7,558 9,070 - 10,180 12,256 - With an allowance recorded: Commercial 8,613 8,613 2,587 9,189 9,189 2,752 Commercial real estate - - - - - - Total with an allowance recorded 8,613 8,613 2,587 9,189 9,189 2,752 Total $ 16,171 $ 17,683 $ 2,587 $ 19,369 $ 21,445 $ 2,752 Impaired loans include troubled debt restructured loans. Impaired loans at June 30, 2019, December 31, 2018, Impaired Loans For the Three Months Ended June 30, For the Six Months Ended June 30, 2019 2018 2019 2018 Average Recognized Average Recognized Average Recognized Average Recognized Recorded Interest Recorded Interest Recorded Interest Recorded Interest Investment Income Investment Income Investment Income Investment Income (In thousands) Commercial $ 9,662 $ 165 $ 10,689 $ 145 $ 9,755 $ 332 $ 10,793 $ 320 Commercial real estate 6,539 126 11,837 211 $ 6,716 273 12,796 426 Residential real estate 196 3 205 4 $ 197 6 206 8 Consumer installment and other 77 - 254 3 $ 105 - 305 6 Total $ 16,474 $ 294 $ 22,985 $ 363 $ 16,773 $ 611 $ 24,100 $ 760 The following tables provide information on troubled debt restructurings: Troubled Debt Restructurings At June 30, 2019 Period-End Individual Number of Pre-Modification Period-End Impairment Contracts Carrying Value Carrying Value Allowance ($ in thousands) Commercial 4 $ 2,274 $ 708 $ 19 Commercial real estate 6 8,367 6,531 - Residential real estate 1 241 195 - Total 11 $ 10,882 $ 7,434 $ 19 Troubled Debt Restructurings At December 31, 2018 Period-End Individual Number of Pre-Modification Period-End Impairment Contracts Carrying Value Carrying Value Allowance ($ in thousands) Commercial 4 $ 2,274 $ 811 $ 19 Commercial real estate 8 9,237 7,568 - Residential real estate 1 241 200 - Total 13 $ 11,752 $ 8,579 $ 19 During the three six June 30, 2019 June 30, 2018, not 12 ninety There were no loans restricted due to collateral requirements at June 30, 2019 December 31, 2018. There wereno loans held for sale at June 30, 2019 December 31, 2018. At June 30, 2019 December 31, 2018, June 30, 2019 December 31, 2018. |
Note 5 - Concentration of Credi
Note 5 - Concentration of Credit Risk | 6 Months Ended |
Jun. 30, 2019 | |
Notes to Financial Statements | |
Concentration Risk Disclosure [Text Block] | Note 5: Under the California Financial Code, credit extended to any one one not not not June 30, 2019, not one June 30, 2019, 4, June 30, 2019 December 31, 2018, no no June 30, 2019, |
Note 6 - Other Assets and Other
Note 6 - Other Assets and Other Liabilities | 6 Months Ended |
Jun. 30, 2019 | |
Notes to Financial Statements | |
Other Assets and Liabilities Disclosure [Text Block] | Note 6: Other assets consisted of the following: At June 30, At December 31, 2019 2018 (In thousands) Cost method equity investments: Federal Reserve Bank stock (1) $ 14,069 $ 14,069 Other investments 158 158 Total cost method equity investments 14,227 14,227 Life insurance cash surrender value 56,528 56,083 Net deferred tax asset 15,375 42,256 Right-of-use asset 20,506 - Limited partnership investments 8,743 10,219 Interest receivable 26,507 25,834 Prepaid assets 3,717 4,658 Other assets 14,709 9,629 Total other assets $ 160,312 $ 162,906 ( 1 The net deferred tax asset at June 30, 2019 December 31, 2018 The Company owns 211 thousand shares of Visa Inc. class B common stock which have transfer restrictions; the carrying value is $-0- thousand. On July 5, 2018, June 28, 2018 June 28, 2019, second 2019. 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, 2019, [WU10] December 31, 2018, [WU11] June 30, 2019, 2019, 2020, 2021, 2022, 2023, 2024 2025 The amounts recognized in net income for these investments include: For the Three Months Ended For the Six Months Ended June 30, 2019 2018 2019 2018 (In thousands) Investment loss included in pre-tax income $ 600 $ 700 $ 1,200 $ 1,300 Tax credits recognized in provision for income taxes 225 336 450 672 Other liabilities consisted of the following: At June 30, At December 31, 2019 2018 (In thousands) Operating lease liability $ 20,506 $ - Other liabilities 24,662 34,849 Total other liabilities $ 45,168 $ 34,849 The Company has entered into leases for most branch locations and certain other offices that were classified as operating leases primarily with original terms of 5 years. Certain lease arrangements contain extension options, which can be exercised at the Company’s option, for one not not not June 30, 2019. As of June 30, 2019, June 30, 2019. not June 30, 2019. Total lease costs during the three six June 30, 2019, not six June 30, 2019. The following table summarizes the remaining lease payments of operating lease liabilities: Minimum At June 30, 2019 (In thousands) Remaining six months of 2019 $ 3,220 2020 6,091 2021 4,376 2022 3,485 2023 2,804 Thereafter 1,955 Total minimum lease payments 21,931 Less: discount (1,425 ) Present value of lease liability $ 20,506 Minimum future rental payments under noncancelable operating leases as of December 31, 2018, 2016 02, Minimum (In thousands) 2019 $ 5,996 2020 4,409 2021 2,741 2022 1,921 2023 1,223 Thereafter 1,044 Total minimum lease payments $ 17,334 |
Note 7 - Goodwill and Identifia
Note 7 - Goodwill and Identifiable Intangible Assets | 6 Months Ended |
Jun. 30, 2019 | |
Notes to Financial Statements | |
Goodwill and Intangible Assets Disclosure [Text Block] | Note 7: The Company has recorded goodwill and other identifiable intangibles associated with purchase business combinations. Goodwill is not not June 30, 2019 December 31, 2018. June 30, 2019 December 31, 2018 The carrying values of goodwill were: At June 30, 2019 At December 31, 2018 (In thousands) Goodwill $ 121,673 $ 121,673 The gross carrying amount of identifiable intangible assets and accumulated amortization was: At June 30, At December 31, 2019 2018 Gross Gross Carrying Accumulated Carrying Accumulated Amount Amortization Amount Amortization (In thousands) Core Deposit Intangibles $ 56,808 $ (55,268 ) $ 56,808 $ (54,879 ) As of June 30, 2019, Total Core Deposit Intangibles (In thousands) For the Six Months ended June 30, 2019 (actual) $ 389 Estimate for the remainder of year ending December 31, 2019 149 Estimate for year ending December 31, 2020 287 2021 269 2022 252 2023 236 2024 222 |
Note 8 - Deposits and Borrowed
Note 8 - Deposits and Borrowed Funds | 6 Months Ended |
Jun. 30, 2019 | |
Notes to Financial Statements | |
Deposits and Borrowed Funds [Text Block] | Note 8: The following table provides additional detail regarding deposits. Deposits At June 30, At December 31, 2019 2018 (In thousands) Noninterest-bearing $ 2,163,841 $ 2,243,251 Interest-bearing: Transaction 942,140 929,346 Savings 1,442,552 1,498,991 Time deposits less than $100 thousand 95,587 102,654 Time deposits $100 thousand through $250 thousand 58,667 64,512 Time deposits more than $250 thousand 27,475 28,085 Total deposits $ 4,730,262 $ 4,866,839 Demand deposit overdrafts of $866 thousand and $980 thousand were included as loan balances at June 30, 2019 December 31, 2018, $100 three six June 30, 2019, three six June 30, 2018, The following table provides additional detail regarding short-term borrowed funds. Repurchase Agreements (Sweep) Remaining Contractual Maturity of the Agreements Overnight and Continuous At June 30, At December 31, 2019 2018 Repurchase agreements: (In thousands) Collateral securing borrowings: Securities of U.S. Government sponsored entities $ 75,785 $ 73,803 Agency residential MBS 56,960 58,380 Corporate securities 114,644 91,837 Total collateral carrying value $ 247,389 $ 224,020 Total short-term borrowed funds $ 54,581 $ 51,247 |
Note 9 - Fair Value Measurement
Note 9 - Fair Value Measurements | 6 Months Ended |
Jun. 30, 2019 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | Note 9: The Company uses fair value measurements to record fair value adjustments to certain assets and liabilities and to determine fair value disclosures. Equity securities and debt securities available for sale are recorded at fair value on a recurring basis. Additionally, from time to time, the Company may In accordance with the Fair Value Measurement and Disclosure topic of the FASB Accounting Standards 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 1 1 Level 2 not 2 Level 3 not The Company relies on independent vendor pricing services to measure fair value for equity securities, debt securities available for sale and debt securities held to maturity. The Company employs three may not 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 3. Assets Recorded at Fair Value on a Recurring Basis The tables below present assets measured at fair value on a recurring basis on the dates indicated. At June 30, 2019 Fair Value Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs (1) (In thousands) Equity securities Mutual funds $ 1,797 $ - $ 1,797 $ - Total equity securities 1,797 - 1,797 - Debt securities available for sale U.S. Treasury securities 44,573 44,573 - - Securities of U.S. Government sponsored entities 167,138 - 167,138 - Agency residential MBS 986,946 - 986,946 - Non-agency residential MBS 112 - 112 - Agency commercial MBS 5,621 - 5,621 - Securities of U.S. Government entities 808 - 808 - Obligations of states and political subdivisions 175,654 - 175,654 - Corporate securities 1,395,047 - 1,395,047 - Total debt securities available for sale 2,775,899 44,573 2,731,326 - Total $ 2,777,696 $ 44,573 $ 2,733,123 $ - ( 1 no 3 six June 30, 2019. At December 31, 2018 Fair Value Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs (1) (In thousands) Equity securities Mutual funds $ 1,747 $ - $ 1,747 $ - Total equity securities 1,747 - 1,747 - Debt securities available for sale U.S. Treasury securities 139,574 139,574 - - Securities of U.S. Government sponsored entities 164,018 - 164,018 - Agency residential MBS 853,871 - 853,871 - Non-agency residential MBS 114 - 114 - Agency commercial MBS 1,842 - 1,842 - Securities of U.S. Government entities 1,119 - 1,119 - Obligations of states and political subdivisions 179,091 - 179,091 - Corporate securities 1,315,041 - 1,315,041 - Total debt securities available for sale 2,654,670 139,574 2,515,096 - Total $ 2,656,417 $ 139,574 $ 2,516,843 $ - ( 1 no 3 December 31, 2018. Assets Recorded at Fair Value on a Nonrecurring Basis The Company may June 30, 2019 December 31, 2018, For the Six Months Ended At June 30, 2019 June 30, 2019 Carrying Value Level 1 Level 2 Level 3 Total Losses (In thousands) Other real estate owned $ 43 $ - $ - $ 43 $ - Impaired loans: Commercial 6,026 - - 6,026 - Commercial real estate 4,100 - - 4,100 - Residential real estate 195 - - 195 - Consumer installment and other 77 - - 77 - Total assets measured at fair value on a nonrecurring basis $ 10,441 $ - $ - $ 10,441 $ - For the Year Ended At December 31, 2018 December 31, 2018 Carrying Value Level 1 Level 2 Level 3 Total Losses (In thousands) Other real estate owned $ 350 $ - $ - $ 350 $ - Impaired loans: Commercial 6,437 - - 6,437 - Commercial real estate 3,870 - - 3,870 (240 ) Total assets measured at fair value on a nonrecurring basis $ 10,657 $ - $ - $ 10,657 $ (240 ) Level 3 third 3 not not 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 Cash and Due from Banks Equity Securities 2 Debt Securities Held to Maturity 1 2 Loans Deposit Liabilities no no Short-Term Borrowed Funds The tables below are 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 may not may The Company has not not not not At June 30, 2019 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 $ 418,586 $ 418,586 $ 418,586 $ - $ - Debt securities held to maturity 867,989 872,976 - 872,976 - Loans 1,141,595 1,184,231 - - 1,184,231 Financial Liabilities: Deposits $ 4,730,262 $ 4,727,480 $ - $ 4,548,533 $ 178,947 Short-term borrowed funds 54,581 54,581 - 54,581 - At December 31, 2018 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 $ 420,284 $ 420,284 $ 420,284 $ - $ - Debt securities held to maturity 984,609 971,445 - 971,445 - Loans 1,185,851 1,184,770 - - 1,184,770 Financial Liabilities: Deposits $ 4,866,839 $ 4,862,668 $ - $ 4,671,588 $ 191,080 Short-term borrowed funds 51,247 51,247 - 51,247 - 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 |
Note 10 - Commitments and Conti
Note 10 - Commitments and Contingent Liabilities | 6 Months Ended |
Jun. 30, 2019 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | Note 10: Loan commitments are agreements to lend to a customer provided there is no not June 30, 2019 December 31, 2018. June 30, 2019 December 31, 2018. June 30, 2019 December 31, 2018. 3 rd June 30, 2019 December 31, 2018, June 30, 2019 December 31, 2018, 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 second 2019, The Company determined that it will be obligated to provide refunds of revenue recognized in years prior to 2018 2017; second 2019, |
Note 11 - Earnings Per Common S
Note 11 - Earnings Per Common Share | 6 Months Ended |
Jun. 30, 2019 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | Note 11: 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, 2019 2018 2019 2018 (In thousands, except per share data) Net income applicable to common equity (numerator) $ 19,625 $ 18,010 $ 39,271 $ 35,516 Basic earnings per common share Weighted average number of common shares outstanding - basic (denominator) 26,942 26,630 26,892 26,581 Basic earnings per common share $ 0.73 $ 0.68 $ 1.46 $ 1.34 Diluted earnings per common share Weighted average number of common shares outstanding - basic 26,942 26,630 26,892 26,581 Add common stock equivalents for options 45 98 58 115 Weighted average number of common shares outstanding - diluted (denominator) 26,987 26,728 26,950 26,696 Diluted earnings per common share $ 0.73 $ 0.67 $ 1.46 $ 1.33 For the three six June 30, 2019, not For the three six June 30, 2018, not |
Note 12 - Income Taxes
Note 12 - Income Taxes | 6 Months Ended |
Jun. 30, 2019 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | Note 12: In the second 2019, In the second 2019, |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 6 Months Ended |
Jun. 30, 2019 | |
Accounting Policies [Abstract] | |
New Accounting Pronouncements, Policy [Policy Text Block] | Recently Adopted Accounting Standards In the six months ended June 30, 2019, the Company adopted the following new accounting guidance: FASB ASU 2016 - 02, Leases (Topic 842 ), was issued February 25, 2016. The provisions of the new standard require lessees to recognize most leases on-balance sheet, increasing reported assets and liabilities. Lessor accounting remains substantially similar to current U.S. GAAP. The Company adopted the ASU provisions effective January 1, 2019, and elected the modified retrospective transition approach. The Company elected the package of practical expedients provided in the ASU, which allowed the Company to rely on lease classification determinations made under prior accounting guidance and forego reevaluation of (i) whether any existing contracts are or contain a lease, (ii) whether existing leases are operating or finance leases, and (iii) the initial direct cost for any existing leases. The Company also elected to combine lease and non-lease components and exempt short-term leases with an original term of one year or less from on-balance sheet recognition. The implementing entry recognized a lease liability of million and right-of-use asset of million for facilities leases. The change in occupancy and equipment expense was not material. FASB ASU 2017 - 08 , Receivables – Non-Refundable Fees and Other Costs (Subtopic 310 - 20 ): Premium Amortization on Purchased Callable Debt Securities , was issued March 2017. The ASU shortens the amortization period for certain callable debt securities held at a premium. Specifically, the ASU requires the premium to be amortized to the earliest call date. The ASU does not require an accounting change for securities held at a discount; the discount continues to be amortized to maturity. The Company adopted the ASU provisions on January 1, 2019. The implementing entry reduced the carrying value of investment securities, specifically obligations of states and political subdivisions, by million and reduced retained earnings by million, net of tax. The change in premium amortization method was not material to revenue recognition. FASB ASU 2017 - 12 , Derivatives and Hedging (Topic 815 ): Targeted Improvements to Accounting for Hedging Activities , was issued August 2017. The ASU expands and refines hedge accounting for both nonfinancial and financial risk components and aligns the recognition and presentation of the effects of the hedging instrument and the hedged item in the financial statements. The ASU also provides for a one -time reclassification of prepayable assets from held-to-maturity (HTM) to available for sale (AFS) regardless of derivative use. The Company adopted the ASU provisions on January 1, 2019. The Company does not currently engage in trading activities or use derivative instruments to control interest rate risk, even though such activities may be permitted with the approval of the Company’s Board of Directors. The Company evaluated the prepayable assets in the HTM portfolio and did not effect a one -time reclassification of prepayable assets from HTM to the AFS upon implementation. Recently Issued Accounting Standards FASB ASU 2016 - 13, Financial Instruments – Credit Losses (Topic 326 ): Measurement of Credit Losses on Financial Instruments, was issued on June 16, 2016. The ASU significantly changes estimates for credit losses related to financial assets measured at amortized cost and certain other contracts. For estimating credit losses, the FASB is replacing the incurred loss model with the current expected credit loss (CECL) model, which will accelerate recognition of credit losses. Additionally, credit losses relating to debt securities available-for-sale will be recorded through an allowance for credit losses under the new standard. The Company will also be required to provide additional disclosures related to the financial assets within the scope of the new standard. The Company will be required to adopt the ASU provisions on January 1, 2020. Management has evaluated available data, defined portfolio segments of loans with similar attributes, and selected loss estimate models for each identified loan portfolio segment. Management has preliminarily measured historical loss rates for each portfolio segment. Management has also segmented debt securities held to maturity, selected methods to estimate losses for each segment, and preliminarily measured a loss estimate. The ultimate adjustment to the allowance for loan losses will be accomplished through an offsetting after-tax adjustment to shareholders’ equity. Economic conditions and the composition of the Company’s loan portfolio and debt securities held to maturity at the time of adoption will influence the extent of the adopting accounting adjustment. Management expects to develop an aggregate loss estimate by December 31, 2019. FASB ASU 2018 - 13 , Fair Value Measurements (Topic 820 ): Disclosure Framework - Changes to the Disclosure Requirements for Fair Value Measurement , was issued August 2018. The ASU is part of the disclosure framework project, where the primary focus is to improve the effectiveness of disclosures in the financial statements. The ASU removes, modifies and adds disclosure requirements related to Fair Value Measurements. The provisions of the ASU are effective January 1, 2020 with the option to early adopt any removed or modified disclosures upon issuance of the ASU. The Company early adopted the provisions to remove and/or modify relevant disclosures in the “Fair Value Measurements” note to the unaudited consolidated financial statements. The requirement to include additional disclosures will be adopted by the Company January 1, 2020. The additional disclosures will not affect the financial results upon adoption. |
Note 3 - Investment Securities
Note 3 - Investment Securities (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Notes Tables | |
Debt Securities, Available-for-sale and Held-to-maturity [Table Text Block] | At June 30, 2019 Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses Value (In thousands) Debt securities available for sale U.S. Treasury securities $ 44,473 $ 100 $ - $ 44,573 Securities of U.S. Government sponsored entities 167,239 69 (170 ) 167,138 Agency residential mortgage-backed securities (MBS) 987,024 8,236 (8,314 ) 986,946 Non-agency residential MBS 109 3 - 112 Agency commercial MBS 5,635 5 (19 ) 5,621 Securities of U.S. Government entities 815 - (7 ) 808 Obligations of states and political subdivisions 172,268 3,486 (100 ) 175,654 Corporate securities 1,379,704 17,462 (2,119 ) 1,395,047 Total debt securities available for sale 2,757,267 29,361 (10,729 ) 2,775,899 Debt securities held to maturity Agency residential MBS 402,961 824 (3,861 ) 399,924 Non-agency residential MBS 2,610 96 - 2,706 Obligations of states and political subdivisions 462,418 7,947 (19 ) 470,346 Total debt securities held to maturity 867,989 8,867 (3,880 ) 872,976 Total $ 3,625,256 $ 38,228 $ (14,609 ) $ 3,648,875 At December 31, 2018 Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses Value (In thousands) Debt securities available for sale U.S. Treasury securities $ 139,572 $ 5 $ (3 ) $ 139,574 Securities of U.S. Government sponsored entities 167,228 65 (3,275 ) 164,018 Agency residential MBS 883,715 595 (30,439 ) 853,871 Non-agency residential MBS 113 1 - 114 Agency commercial MBS 1,869 - (27 ) 1,842 Securities of U.S. Government entities 1,128 - (9 ) 1,119 Obligations of states and political subdivisions 180,220 1,856 (2,985 ) 179,091 Corporate securities 1,337,608 1,075 (23,642 ) 1,315,041 Total debt securities available for sale 2,711,453 3,597 (60,380 ) 2,654,670 Debt securities held to maturity Agency residential MBS 447,332 249 (14,129 ) 433,452 Non-agency residential MBS 3,387 40 - 3,427 Obligations of states and political subdivisions 533,890 3,403 (2,727 ) 534,566 Total debt securities held to maturity 984,609 3,692 (16,856 ) 971,445 Total $ 3,696,062 $ 7,289 $ (77,236 ) $ 3,626,115 |
Investments Classified by Contractual Maturity Date [Table Text Block] | At June 30, 2019 Debt Securities Available Debt Securities Held for Sale to Maturity Amortized Fair Amortized Fair Cost Value Cost Value (In thousands) Maturity in years: 1 year or less $ 202,597 $ 202,637 $ 81,436 $ 81,589 Over 1 to 5 years 1,329,781 1,342,419 177,675 180,218 Over 5 to 10 years 193,678 199,098 202,280 207,471 Over 10 years 38,443 39,066 1,027 1,068 Subtotal 1,764,499 1,783,220 462,418 470,346 MBS 992,768 992,679 405,571 402,630 Total $ 2,757,267 $ 2,775,899 $ 867,989 $ 872,976 At December 31, 2018 Debt Securities Available Debt Securities Held for Sale to Maturity Amortized Fair Amortized Fair Cost Value Cost Value (In thousands) Maturity in years: 1 year or less $ 262,418 $ 261,976 $ 86,172 $ 86,148 Over 1 to 5 years 1,438,849 1,414,020 214,137 213,829 Over 5 to 10 years 85,817 85,877 232,544 233,515 Over 10 years 38,672 36,970 1,037 1,074 Subtotal 1,825,756 1,798,843 533,890 534,566 MBS 885,697 855,827 450,719 436,879 Total $ 2,711,453 $ 2,654,670 $ 984,609 $ 971,445 |
Schedule of Unrealized Loss on Investments [Table Text Block] | Debt Securities Available for Sale At June 30, 2019 No. of Less than 12 months No. of 12 months or longer No. of Total Investment Unrealized Investment Unrealized Investment Unrealized Positions Fair Value Losses Positions Fair Value Losses Positions Fair Value Losses ($ in thousands) Securities of U.S. Government sponsored entities - $ - $ - 7 $ 77,714 $ (170 ) 7 $ 77,714 $ (170 ) Agency residential MBS - - - 54 533,982 (8,314 ) 54 533,982 (8,314 ) Agency commercial MBS - - - 1 1,833 (19 ) 1 1,833 (19 ) Securities of U.S. Government entities - - - 2 808 (7 ) 2 808 (7 ) Obligations of states and political subdivisions 2 1,054 - 25 10,643 (100 ) 27 11,697 (100 ) Corporate securities 2 10,692 (67 ) 32 275,533 (2,052 ) 34 286,225 (2,119 ) Total 4 $ 11,746 $ (67 ) 121 $ 900,513 $ (10,662 ) 125 $ 912,259 $ (10,729 ) Debt Securities Held to Maturity At June 30, 2019 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) Agency residential MBS 1 $ 55 $ - 63 $ 350,418 $ (3,861 ) 64 $ 350,473 $ (3,861 ) Obligations of states - - - 13 10,516 (19 ) 13 10,516 (19 ) Total 1 $ 55 $ - 76 $ 360,934 $ (3,880 ) 77 $ 360,989 $ (3,880 ) Debt Securities Available for Sale At December 31, 2018 No. of Less than 12 months No. of 12 months or longer No. of Total Investment Unrealized Investment Unrealized Investment Unrealized Positions Fair Value Losses Positions Fair Value Losses Positions Fair Value Losses ($ in thousands) U.S. Treasury securities 2 $ 54,805 $ (3 ) - $ - $ - 2 $ 54,805 $ (3 ) Securities of U.S. 1 990 (5 ) 9 117,963 (3,270 ) 10 118,953 (3,275 ) Agency residential MBS 8 107,497 (507 ) 58 640,210 (29,932 ) 66 747,707 (30,439 ) Agency commercial 1 1,842 (27 ) - - - 1 1,842 (27 ) Securities of U.S. - - - 2 1,119 (9 ) 2 1,119 (9 ) Obligations of states 32 26,452 (166 ) 71 67,121 (2,819 ) 103 93,573 (2,985 ) Corporate securities 38 308,157 (3,403 ) 79 722,740 (20,239 ) 117 1,030,897 (23,642 ) Total 82 $ 499,743 $ (4,111 ) 219 $ 1,549,153 $ (56,269 ) 301 $ 2,048,896 $ (60,380 ) Debt Securities Held to Maturity At December 31, 2018 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) Agency residential MBS 16 $ 8,495 $ (34 ) 78 $ 412,574 $ (14,095 ) 94 $ 421,069 $ (14,129 ) Non-agency residential 1 26 - - - - 1 26 - Obligations of states 97 83,633 (271 ) 142 151,546 (2,456 ) 239 235,179 (2,727 ) Total 114 $ 92,154 $ (305 ) 220 $ 564,120 $ (16,551 ) 334 $ 656,274 $ (16,856 ) |
Interest Income from Investments [Table Text Block] | For the Three Months For the Six Months Ended June 30, 2019 2018 2019 2018 (In thousands) Taxable $ 18,773 $ 15,598 $ 37,406 $ 30,547 Tax-exempt from regular federal income tax 4,073 5,027 8,388 9,888 Total interest income from investment securities $ 22,846 $ 20,625 $ 45,794 $ 40,435 |
Note 4 - Loans, Allowance for_2
Note 4 - Loans, Allowance for Loan Losses and Other Real Estate Owned (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Notes Tables | |
Schedule of Loans Receivable [Table Text Block] | At June 30, At December 31, 2019 2018 (In thousands) Commercial $ 243,577 $ 275,080 Commercial Real Estate 577,665 580,480 Construction 5,482 3,982 Residential Real Estate 37,813 44,866 Consumer Installment & Other 297,175 302,794 Total $ 1,161,712 $ 1,207,202 |
Accretable Yield Reconciliation Schedule [Table Text Block] | For the For the Six Months Ended Year Ended June 30, 2019 December 31, 2018 Accretable yield: (In thousands) Balance at the beginning of the period $ 182 $ 738 Reclassification from nonaccretable difference 1,103 1,119 Accretion (257 ) (1,675 ) Balance at the end of the period $ 1,028 $ 182 Accretion $ (257 ) $ (1,675 ) Change in FDIC indemnification - 2 (Increase) in interest income $ (257 ) $ (1,673 ) |
Financing Receivable, Current, Allowance for Credit Loss [Table Text Block] | Allowance for Loan Losses For the Three Months Ended June 30, 2019 Consumer Commercial Residential Installment Commercial Real Estate Construction Real Estate and Other Unallocated Total (In thousands) Allowance for loan losses: Balance at beginning of period $ 6,506 $ 3,927 $ 853 $ 261 $ 5,481 $ 3,449 $ 20,477 (Reversal) provision (1,346 ) 116 264 (23 ) 386 603 - Chargeoffs (48 ) - - - (925 ) - (973 ) Recoveries 123 14 - - 476 - 613 Total allowance for loan losses $ 5,235 $ 4,057 $ 1,117 $ 238 $ 5,418 $ 4,052 $ 20,117 Allowance for Loan Losses For the Six Months Ended June 30, 2019 Consumer Commercial Residential Installment Commercial Real Estate Construction Real Estate and Other Unallocated Total (In thousands) Allowance for loan losses: Balance at beginning of period $ 6,311 $ 3,884 $ 1,465 $ 869 $ 5,645 $ 3,177 $ 21,351 (Reversal) provision (1,221 ) 147 (348 ) (631 ) 1,178 875 - Chargeoffs (71 ) - - - (2,293 ) - (2,364 ) Recoveries 216 26 - - 888 - 1,130 Total allowance for loan losses $ 5,235 $ 4,057 $ 1,117 $ 238 $ 5,418 $ 4,052 $ 20,117 Allowance for Loan Losses For the Three Months Ended June 30, 2018 Consumer Commercial Residential Installment Commercial Real Estate Construction Real Estate and Other Unallocated Total (In thousands) Allowance for loan losses: Balance at beginning of period $ 8,517 $ 3,824 $ 175 $ 908 $ 5,739 $ 3,918 $ 23,081 (Reversal) provision (662 ) (35 ) 35 156 665 (159 ) - Chargeoffs - - - - (805 ) - (805 ) Recoveries 420 - - - 344 - 764 Total allowance for loan losses $ 8,275 $ 3,789 $ 210 $ 1,064 $ 5,943 $ 3,759 $ 23,040 |
Schedule of Recorded Investment in Loans Evaluated for Impairment [Table Text Block] | Allowance for Loan Losses For the Six Months Ended June 30, 2018 Consumer Commercial Residential Installment Commercial Real Estate Construction Real Estate and Other Unallocated Total (In thousands) Allowance for loan losses: Balance at beginning of period $ 7,746 $ 3,849 $ 335 $ 995 $ 6,418 $ 3,666 $ 23,009 (Reversal) provision (679 ) (60 ) (125 ) 69 702 93 - Chargeoffs (41 ) - - - (2,170 ) - (2,211 ) Recoveries 1,249 - - - 993 - 2,242 Total allowance for loan losses $ 8,275 $ 3,789 $ 210 $ 1,064 $ 5,943 $ 3,759 $ 23,040 Allowance for Loan Losses and Recorded Investment in Loans Evaluated for Impairment At June 30, 2019 Commercial Commercial Real Estate Construction Residential Real Estate Consumer Installment and Other Unallocated Total (In thousands) Allowance for loan losses: Individually evaluated for impairment $ 2,587 $ - $ - $ - $ - $ - $ 2,587 Collectively evaluated for impairment 2,648 4,057 1,117 238 5,418 4,052 17,530 Total $ 5,235 $ 4,057 $ 1,117 $ 238 $ 5,418 $ 4,052 $ 20,117 Carrying value of loans: Individually evaluated for impairment $ 9,368 $ 6,531 $ - $ 195 $ 77 $ - $ 16,171 Collectively evaluated for impairment 234,209 571,134 5,482 37,618 297,098 - 1,145,541 Total $ 243,577 $ 577,665 $ 5,482 $ 37,813 $ 297,175 $ - $ 1,161,712 Allowance for Loan Losses and Recorded Investment in Loans Evaluated for Impairment At December 31, 2018 Commercial Commercial Real Estate Construction Residential Real Estate Consumer Installment and Other Unallocated Total (In thousands) Allowance for loan losses: Individually evaluated for impairment $ 2,752 $ - $ - $ - $ - $ - $ 2,752 Collectively evaluated for impairment 3,559 3,884 1,465 869 5,645 3,177 18,599 Total $ 6,311 $ 3,884 $ 1,465 $ 869 $ 5,645 $ 3,177 $ 21,351 Carrying value of loans: Individually evaluated for impairment $ 9,944 $ 8,438 $ - $ 717 $ 143 $ - $ 19,242 Collectively evaluated for impairment 265,136 572,042 3,982 44,149 302,651 - 1,187,960 Total $ 275,080 $ 580,480 $ 3,982 $ 44,866 $ 302,794 $ - $ 1,207,202 |
Financing Receivable Credit Quality Indicators [Table Text Block] | Credit Risk Profile by Internally Assigned Grade At June 30, 2019 Commercial Commercial Real Estate Construction Residential Real Estate Consumer Installment and Other Total (In thousands) Grade: Pass $ 234,053 $ 566,359 $ 5,482 $ 36,076 $ 295,177 $ 1,137,147 Substandard 9,524 11,306 - 1,737 1,551 24,118 Doubtful - - - - 271 271 Loss - - - - 176 176 Total $ 243,577 $ 577,665 $ 5,482 $ 37,813 $ 297,175 $ 1,161,712 Credit Risk Profile by Internally Assigned Grade At December 31, 2018 Commercial Commercial Real Estate Construction Residential Real Estate Consumer Installment and Other Total (In thousands) Grade: Pass $ 264,634 $ 567,578 $ 3,982 $ 43,112 $ 300,553 $ 1,179,859 Substandard 10,446 12,902 - 1,754 1,556 26,658 Doubtful - - - - 135 135 Loss - - - - 550 550 Total $ 275,080 $ 580,480 $ 3,982 $ 44,866 $ 302,794 $ 1,207,202 |
Financing Receivable, Past Due [Table Text Block] | Summary of Loans by Delinquency and Nonaccrual Status At June 30, 2019 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 $ 243,187 $ 290 $ - $ - $ 100 $ 243,577 Commercial real estate 570,463 3,472 60 - 3,670 577,665 Construction 5,482 - - - - 5,482 Residential real estate 37,533 280 - - - 37,813 Consumer installment and other 293,684 2,404 761 249 77 297,175 Total $ 1,150,349 $ 6,446 $ 821 $ 249 $ 3,847 $ 1,161,712 Summary of Loans by Delinquency and Nonaccrual Status At December 31, 2018 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 $ 274,045 $ 781 $ 254 $ - $ - $ 275,080 Commercial real estate 574,853 617 785 - 4,225 580,480 Construction 3,982 - - - - 3,982 Residential real estate 43,372 789 189 - 516 44,866 Consumer installment and other 297,601 3,408 1,107 551 127 302,794 Total $ 1,193,853 $ 5,595 $ 2,335 $ 551 $ 4,868 $ 1,207,202 |
Impaired Financing Receivables [Table Text Block] | Impaired Loans At June 30, 2019 At December 31, 2018 Unpaid Unpaid Recorded Principal Related Recorded Principal Related Investment Balance Allowance Investment Balance Allowance (In thousands) With no related allowance recorded: Commercial $ 755 $ 755 $ - $ 755 $ 759 $ - Commercial real estate 6,531 7,978 - 8,438 10,373 - Residential real estate 195 225 - 717 747 - Consumer installment and other 77 112 - 270 377 - Total with no related allowance recorded 7,558 9,070 - 10,180 12,256 - With an allowance recorded: Commercial 8,613 8,613 2,587 9,189 9,189 2,752 Commercial real estate - - - - - - Total with an allowance recorded 8,613 8,613 2,587 9,189 9,189 2,752 Total $ 16,171 $ 17,683 $ 2,587 $ 19,369 $ 21,445 $ 2,752 |
Impaired Financing Receivables Supplemental Schedule [Table Text Block] | Impaired Loans For the Three Months Ended June 30, For the Six Months Ended June 30, 2019 2018 2019 2018 Average Recognized Average Recognized Average Recognized Average Recognized Recorded Interest Recorded Interest Recorded Interest Recorded Interest Investment Income Investment Income Investment Income Investment Income (In thousands) Commercial $ 9,662 $ 165 $ 10,689 $ 145 $ 9,755 $ 332 $ 10,793 $ 320 Commercial real estate 6,539 126 11,837 211 $ 6,716 273 12,796 426 Residential real estate 196 3 205 4 $ 197 6 206 8 Consumer installment and other 77 - 254 3 $ 105 - 305 6 Total $ 16,474 $ 294 $ 22,985 $ 363 $ 16,773 $ 611 $ 24,100 $ 760 |
Financing Receivable, Troubled Debt Restructuring [Table Text Block] | Troubled Debt Restructurings At June 30, 2019 Period-End Individual Number of Pre-Modification Period-End Impairment Contracts Carrying Value Carrying Value Allowance ($ in thousands) Commercial 4 $ 2,274 $ 708 $ 19 Commercial real estate 6 8,367 6,531 - Residential real estate 1 241 195 - Total 11 $ 10,882 $ 7,434 $ 19 Troubled Debt Restructurings At December 31, 2018 Period-End Individual Number of Pre-Modification Period-End Impairment Contracts Carrying Value Carrying Value Allowance ($ in thousands) Commercial 4 $ 2,274 $ 811 $ 19 Commercial real estate 8 9,237 7,568 - Residential real estate 1 241 200 - Total 13 $ 11,752 $ 8,579 $ 19 |
Note 6 - Other Assets and Oth_2
Note 6 - Other Assets and Other Liabilities (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Notes Tables | |
Schedule of Other Assets [Table Text Block] | At June 30, At December 31, 2019 2018 (In thousands) Cost method equity investments: Federal Reserve Bank stock (1) $ 14,069 $ 14,069 Other investments 158 158 Total cost method equity investments 14,227 14,227 Life insurance cash surrender value 56,528 56,083 Net deferred tax asset 15,375 42,256 Right-of-use asset 20,506 - Limited partnership investments 8,743 10,219 Interest receivable 26,507 25,834 Prepaid assets 3,717 4,658 Other assets 14,709 9,629 Total other assets $ 160,312 $ 162,906 |
Schedule of Amounts Recognized in Net Income [Table Text Block] | For the Three Months Ended For the Six Months Ended June 30, 2019 2018 2019 2018 (In thousands) Investment loss included in pre-tax income $ 600 $ 700 $ 1,200 $ 1,300 Tax credits recognized in provision for income taxes 225 336 450 672 |
Other Liabilities [Table Text Block] | At June 30, At December 31, 2019 2018 (In thousands) Operating lease liability $ 20,506 $ - Other liabilities 24,662 34,849 Total other liabilities $ 45,168 $ 34,849 |
Lessee, Operating Lease, Liability, Maturity [Table Text Block] | Minimum At June 30, 2019 (In thousands) Remaining six months of 2019 $ 3,220 2020 6,091 2021 4,376 2022 3,485 2023 2,804 Thereafter 1,955 Total minimum lease payments 21,931 Less: discount (1,425 ) Present value of lease liability $ 20,506 |
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block] | Minimum (In thousands) 2019 $ 5,996 2020 4,409 2021 2,741 2022 1,921 2023 1,223 Thereafter 1,044 Total minimum lease payments $ 17,334 |
Note 7 - Goodwill and Identif_2
Note 7 - Goodwill and Identifiable Intangible Assets (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Notes Tables | |
Schedule of Goodwill [Table Text Block] | At June 30, 2019 At December 31, 2018 (In thousands) Goodwill $ 121,673 $ 121,673 |
Schedule of Finite-Lived Intangible Assets [Table Text Block] | At June 30, At December 31, 2019 2018 Gross Gross Carrying Accumulated Carrying Accumulated Amount Amortization Amount Amortization (In thousands) Core Deposit Intangibles $ 56,808 $ (55,268 ) $ 56,808 $ (54,879 ) |
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block] | Total Core Deposit Intangibles (In thousands) For the Six Months ended June 30, 2019 (actual) $ 389 Estimate for the remainder of year ending December 31, 2019 149 Estimate for year ending December 31, 2020 287 2021 269 2022 252 2023 236 2024 222 |
Note 8 - Deposits and Borrowe_2
Note 8 - Deposits and Borrowed Funds (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Notes Tables | |
Deposit Liabilities, Type [Table Text Block] | Deposits At June 30, At December 31, 2019 2018 (In thousands) Noninterest-bearing $ 2,163,841 $ 2,243,251 Interest-bearing: Transaction 942,140 929,346 Savings 1,442,552 1,498,991 Time deposits less than $100 thousand 95,587 102,654 Time deposits $100 thousand through $250 thousand 58,667 64,512 Time deposits more than $250 thousand 27,475 28,085 Total deposits $ 4,730,262 $ 4,866,839 |
Schedule of Repurchase Agreements [Table Text Block] | Repurchase Agreements (Sweep) Remaining Contractual Maturity of the Agreements Overnight and Continuous At June 30, At December 31, 2019 2018 Repurchase agreements: (In thousands) Collateral securing borrowings: Securities of U.S. Government sponsored entities $ 75,785 $ 73,803 Agency residential MBS 56,960 58,380 Corporate securities 114,644 91,837 Total collateral carrying value $ 247,389 $ 224,020 Total short-term borrowed funds $ 54,581 $ 51,247 |
Note 9 - Fair Value Measureme_2
Note 9 - Fair Value Measurements (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Notes Tables | |
Fair Value, Assets Measured on Recurring Basis [Table Text Block] | At June 30, 2019 Fair Value Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs (1) (In thousands) Equity securities Mutual funds $ 1,797 $ - $ 1,797 $ - Total equity securities 1,797 - 1,797 - Debt securities available for sale U.S. Treasury securities 44,573 44,573 - - Securities of U.S. Government sponsored entities 167,138 - 167,138 - Agency residential MBS 986,946 - 986,946 - Non-agency residential MBS 112 - 112 - Agency commercial MBS 5,621 - 5,621 - Securities of U.S. Government entities 808 - 808 - Obligations of states and political subdivisions 175,654 - 175,654 - Corporate securities 1,395,047 - 1,395,047 - Total debt securities available for sale 2,775,899 44,573 2,731,326 - Total $ 2,777,696 $ 44,573 $ 2,733,123 $ - At December 31, 2018 Fair Value Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs (1) (In thousands) Equity securities Mutual funds $ 1,747 $ - $ 1,747 $ - Total equity securities 1,747 - 1,747 - Debt securities available for sale U.S. Treasury securities 139,574 139,574 - - Securities of U.S. Government sponsored entities 164,018 - 164,018 - Agency residential MBS 853,871 - 853,871 - Non-agency residential MBS 114 - 114 - Agency commercial MBS 1,842 - 1,842 - Securities of U.S. Government entities 1,119 - 1,119 - Obligations of states and political subdivisions 179,091 - 179,091 - Corporate securities 1,315,041 - 1,315,041 - Total debt securities available for sale 2,654,670 139,574 2,515,096 - Total $ 2,656,417 $ 139,574 $ 2,516,843 $ - |
Fair Value Measurements, Nonrecurring [Table Text Block] | For the Six Months Ended At June 30, 2019 June 30, 2019 Carrying Value Level 1 Level 2 Level 3 Total Losses (In thousands) Other real estate owned $ 43 $ - $ - $ 43 $ - Impaired loans: Commercial 6,026 - - 6,026 - Commercial real estate 4,100 - - 4,100 - Residential real estate 195 - - 195 - Consumer installment and other 77 - - 77 - Total assets measured at fair value on a nonrecurring basis $ 10,441 $ - $ - $ 10,441 $ - For the Year Ended At December 31, 2018 December 31, 2018 Carrying Value Level 1 Level 2 Level 3 Total Losses (In thousands) Other real estate owned $ 350 $ - $ - $ 350 $ - Impaired loans: Commercial 6,437 - - 6,437 - Commercial real estate 3,870 - - 3,870 (240 ) Total assets measured at fair value on a nonrecurring basis $ 10,657 $ - $ - $ 10,657 $ (240 ) |
Fair Value, by Balance Sheet Grouping [Table Text Block] | At June 30, 2019 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 $ 418,586 $ 418,586 $ 418,586 $ - $ - Debt securities held to maturity 867,989 872,976 - 872,976 - Loans 1,141,595 1,184,231 - - 1,184,231 Financial Liabilities: Deposits $ 4,730,262 $ 4,727,480 $ - $ 4,548,533 $ 178,947 Short-term borrowed funds 54,581 54,581 - 54,581 - At December 31, 2018 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 $ 420,284 $ 420,284 $ 420,284 $ - $ - Debt securities held to maturity 984,609 971,445 - 971,445 - Loans 1,185,851 1,184,770 - - 1,184,770 Financial Liabilities: Deposits $ 4,866,839 $ 4,862,668 $ - $ 4,671,588 $ 191,080 Short-term borrowed funds 51,247 51,247 - 51,247 - |
Note 11 - Earnings Per Common_2
Note 11 - Earnings Per Common Share (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | For the Three Months For the Six Months Ended June 30, 2019 2018 2019 2018 (In thousands, except per share data) Net income applicable to common equity (numerator) $ 19,625 $ 18,010 $ 39,271 $ 35,516 Basic earnings per common share Weighted average number of common shares outstanding - basic (denominator) 26,942 26,630 26,892 26,581 Basic earnings per common share $ 0.73 $ 0.68 $ 1.46 $ 1.34 Diluted earnings per common share Weighted average number of common shares outstanding - basic 26,942 26,630 26,892 26,581 Add common stock equivalents for options 45 98 58 115 Weighted average number of common shares outstanding - diluted (denominator) 26,987 26,728 26,950 26,696 Diluted earnings per common share $ 0.73 $ 0.67 $ 1.46 $ 1.33 |
Note 2 - Accounting Policies (D
Note 2 - Accounting Policies (Details Textual) - USD ($) $ in Thousands | Jun. 30, 2019 | Jan. 01, 2019 | Dec. 31, 2018 |
Operating Lease, Liability, Total | $ 20,506 | $ 0 | |
Operating Lease, Right-of-Use Asset | 20,506 | 0 | |
Debt Securities, Available-for-sale, Total | 2,775,899 | 2,654,670 | |
Retained Earnings (Accumulated Deficit), Ending Balance | $ 220,173 | $ 205,841 | |
Accounting Standards Update 2016-02 [Member] | |||
Operating Lease, Liability, Total | $ 15,300 | ||
Operating Lease, Right-of-Use Asset | 15,300 | ||
Accounting Standards Update 2017-08 [Member] | |||
Debt Securities, Available-for-sale, Total | (3,100) | ||
Retained Earnings (Accumulated Deficit), Ending Balance | $ (2,800) |
Note 3 - Investment Securitie_2
Note 3 - Investment Securities (Details Textual) - USD ($) $ in Thousands | 6 Months Ended | ||||
Jun. 30, 2019 | Jun. 30, 2018 | Dec. 31, 2018 | Jan. 01, 2018 | Dec. 31, 2017 | |
Equity Securities, FV-NI | $ 1,797 | $ 1,747 | $ 1,800 | ||
Cumulative Effect of New Accounting Principle in Period of Adoption | (2,801) | ||||
Unrealized Gain (Loss) on Securities | 50 | $ (50) | |||
High Risk Collateralized Mortgage Obligations | 0 | 0 | |||
Debt Securities, Available-for-sale, Amortized Cost, Total | 2,757,267 | 2,711,453 | |||
Debt Securities, Available-for-sale, Total | 2,775,899 | 2,654,670 | |||
Other-than-temporary Impairment Loss, Debt Securities, Available-for-sale, Total | 0 | ||||
Pledged Financial Instruments, Not Separately Reported, Securities, Total | 746,876 | 728,161 | |||
Debt Security, Corporate, US [Member] | |||||
Debt Securities, Available-for-sale, Amortized Cost, Total | 1,379,704 | 1,337,608 | |||
Debt Securities, Available-for-sale, Total | 1,395,047 | 1,315,041 | |||
Debt Security, Corporate, US [Member] | External Credit Rating, Non Investment Grade [Member] | |||||
Debt Securities, Available-for-sale, Amortized Cost, Total | 15,000 | ||||
Debt Securities, Available-for-sale, Total | $ 14,200 | ||||
Retained Earnings [Member] | |||||
Cumulative Effect of New Accounting Principle in Period of Adoption | $ (2,801) | $ (142) | |||
Retained Earnings [Member] | Accounting Standards Update 2016-01 [Member] | |||||
Cumulative Effect of New Accounting Principle in Period of Adoption | $ (142) |
Note 3 - Investment Securitie_3
Note 3 - Investment Securities - Amortized Cost, Unrealized Gains and Losses, and Estimated Fair Value of Investment Securities Portfolio (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
Debt securities available for sale, amortized cost | $ 2,757,267 | $ 2,711,453 |
Debt securities available for sale, gross unrealized gains | 29,361 | 3,597 |
Debt securities available for sale, gross unrealized losses | (10,729) | (60,380) |
Debt securities available for sale | 2,775,899 | 2,654,670 |
Debt securities held to maturity, amortized cost | 867,989 | 984,609 |
Debt securities held to maturity, gross unrecognized gains | 8,867 | 3,692 |
Debt securities held to maturity, gross unrecognized losses | (3,880) | (16,856) |
Debt securities held to maturity, fair value | 872,976 | 971,445 |
Debt securities, amortized cost | 3,625,256 | 3,696,062 |
Debt securities, gross unrecognized gains | 38,228 | 7,289 |
Debt securities, gross unrecognized losses | (14,609) | (77,236) |
Debt securities, fair value | 3,648,875 | 3,626,115 |
US Treasury Securities [Member] | ||
Debt securities available for sale, amortized cost | 44,473 | 139,572 |
Debt securities available for sale, gross unrealized gains | 100 | 5 |
Debt securities available for sale, gross unrealized losses | 0 | (3) |
Debt securities available for sale | 44,573 | 139,574 |
US Government-sponsored Enterprises Debt Securities [Member] | ||
Debt securities available for sale, amortized cost | 167,239 | 167,228 |
Debt securities available for sale, gross unrealized gains | 69 | 65 |
Debt securities available for sale, gross unrealized losses | (170) | (3,275) |
Debt securities available for sale | 167,138 | 164,018 |
Agency Residential MBS [Member] | ||
Debt securities available for sale, amortized cost | 987,024 | 883,715 |
Debt securities available for sale, gross unrealized gains | 8,236 | 595 |
Debt securities available for sale, gross unrealized losses | (8,314) | (30,439) |
Debt securities available for sale | 986,946 | 853,871 |
Debt securities held to maturity, amortized cost | 402,961 | 447,332 |
Debt securities held to maturity, gross unrecognized gains | 824 | 249 |
Debt securities held to maturity, gross unrecognized losses | (3,861) | (14,129) |
Debt securities held to maturity, fair value | 399,924 | 433,452 |
Non-agency Residential MBS [Member] | ||
Debt securities available for sale, amortized cost | 109 | 113 |
Debt securities available for sale, gross unrealized gains | 3 | 1 |
Debt securities available for sale, gross unrealized losses | 0 | 0 |
Debt securities available for sale | 112 | 114 |
Debt securities held to maturity, amortized cost | 2,610 | 3,387 |
Debt securities held to maturity, gross unrecognized gains | 96 | 40 |
Debt securities held to maturity, gross unrecognized losses | 0 | 0 |
Debt securities held to maturity, fair value | 2,706 | 3,427 |
Agency Commercial MBS [Member] | ||
Debt securities available for sale, amortized cost | 5,635 | 1,869 |
Debt securities available for sale, gross unrealized gains | 5 | 0 |
Debt securities available for sale, gross unrealized losses | (19) | (27) |
Debt securities available for sale | 5,621 | 1,842 |
US Government Agencies Debt Securities [Member] | ||
Debt securities available for sale, amortized cost | 815 | 1,128 |
Debt securities available for sale, gross unrealized gains | 0 | 0 |
Debt securities available for sale, gross unrealized losses | (7) | (9) |
Debt securities available for sale | 808 | 1,119 |
US States and Political Subdivisions Debt Securities [Member] | ||
Debt securities available for sale, amortized cost | 172,268 | 180,220 |
Debt securities available for sale, gross unrealized gains | 3,486 | 1,856 |
Debt securities available for sale, gross unrealized losses | (100) | (2,985) |
Debt securities available for sale | 175,654 | 179,091 |
Debt securities held to maturity, amortized cost | 462,418 | 533,890 |
Debt securities held to maturity, gross unrecognized gains | 7,947 | 3,403 |
Debt securities held to maturity, gross unrecognized losses | (19) | (2,727) |
Debt securities held to maturity, fair value | 470,346 | 534,566 |
Debt Security, Corporate, US [Member] | ||
Debt securities available for sale, amortized cost | 1,379,704 | 1,337,608 |
Debt securities available for sale, gross unrealized gains | 17,462 | 1,075 |
Debt securities available for sale, gross unrealized losses | (2,119) | (23,642) |
Debt securities available for sale | $ 1,395,047 | $ 1,315,041 |
Note 3 - Investment Securitie_4
Note 3 - Investment Securities - Amortized Cost and Estimated Market Value of Securities by Contractual Maturity (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
Investment securities available for sale, amortized cost, 1 year or less | $ 202,597 | $ 262,418 |
Investment securities available for sale, fair value, 1 year or less | 202,637 | 261,976 |
Investment securities held to maturity, amortized cost, 1 year or less | 81,436 | 86,172 |
Investment securities held to maturity, fair value, 1 year or less | 81,589 | 86,148 |
Investment securities available for sale, amortized cost, over 1 to 5 years | 1,329,781 | 1,438,849 |
Investment securities available for sale, fair value, over 1 to 5 years | 1,342,419 | 1,414,020 |
Investment securities held to maturity, amortized cost, over 1 to 5 years | 177,675 | 214,137 |
Investment securities held to maturity, fair value, over 1 to 5 years | 180,218 | 213,829 |
Investment securities available for sale, amortized cost, over 5 to 10 years | 193,678 | 85,817 |
Investment securities available for sale, fair value, over 5 to 10 years | 199,098 | 85,877 |
Investment securities held to maturity, amortized cost, over 5 to 10 years | 202,280 | 232,544 |
Investment securities held to maturity, fair value, over 5 to 10 years | 207,471 | 233,515 |
Investment securities available for sale, amortized cost, over 10 years | 38,443 | 38,672 |
Investment securities available for sale, fair value, over 10 years | 39,066 | 36,970 |
Investment securities held to maturity, amortized cost, over 10 years | 1,027 | 1,037 |
Investment securities held to maturity, fair value, over 10 years | 1,068 | 1,074 |
Investment securities available for sale, amortized cost, subtotal | 1,764,499 | 1,825,756 |
Investment securities available for sale, fair value, subtotal | 1,783,220 | 1,798,843 |
Investment securities held to maturity, amortized cost, subtotal | 462,418 | 533,890 |
Investment securities held to maturity, fair value, subtotal | 470,346 | 534,566 |
Investment securities available for sale, amortized cost | 992,768 | 885,697 |
Investment securities available for sale, fair value | 992,679 | 855,827 |
Investment securities held to maturity, amortized cost | 405,571 | 450,719 |
Investment securities held to maturity, fair value | 402,630 | 436,879 |
Investment securities available for sale, amortized cost | 2,757,267 | 2,711,453 |
Investment securities available for sale, fair value | 2,775,899 | 2,654,670 |
Investment securities held to maturity, amortized cost | 867,989 | 984,609 |
Investment securities held to maturity, fair value | $ 872,976 | $ 971,445 |
Note 3 - Investment Securitie_5
Note 3 - Investment Securities - Gross Unrealized Losses, Investment Securities Portfolio (Details) $ in Thousands | Jun. 30, 2019USD ($) | Dec. 31, 2018USD ($) |
Available for sale securities, less than 12 months, number of investment positions | 4 | 82 |
Available for sale securities, less than 12 months, fair value | $ 11,746 | $ 499,743 |
Available for sale securities, less than 12 months, unrealized losses | $ (67) | $ (4,111) |
Available for sale securities, 12 months or longer, number of investment positions | 121 | 219 |
Available for sale securities, 12 months or longer, fair value | $ 900,513 | $ 1,549,153 |
Available for sale securities, 12 months or longer, unrealized losses | $ (10,662) | $ (56,269) |
Available for sale securities, total, number of investment positions | 125 | 301 |
Available for sale securities, total, fair value | $ 912,259 | $ 2,048,896 |
Available for sale securities, total, unrealized losses | $ (10,729) | $ (60,380) |
Held to Maturity securities, less than 12 months, number of investment positions | 1 | 114 |
Held to Maturity securities, less than 12 months, fair value | $ 55 | $ 92,154 |
Held to Maturity securities, less than 12 months, unrecognized losses | $ 0 | $ (305) |
Held to Maturity securities, 12 months or longer, number of investment positions | 76 | 220 |
Held to Maturity securities, 12 months or longer, fair value | $ 360,934 | $ 564,120 |
Held to Maturity securities, 12 months or longer, unrecognized losses | $ (3,880) | $ (16,551) |
Held to Maturity securities, total, number of investment positions | 77 | 334 |
Held to Maturity securities, total, fair value | $ 360,989 | $ 656,274 |
Held to Maturity securities, total, unrecognized losses | $ (3,880) | $ (16,856) |
US Government-sponsored Enterprises Debt Securities [Member] | ||
Available for sale securities, less than 12 months, number of investment positions | 0 | 1 |
Available for sale securities, less than 12 months, fair value | $ 0 | $ 990 |
Available for sale securities, less than 12 months, unrealized losses | $ 0 | $ (5) |
Available for sale securities, 12 months or longer, number of investment positions | 7 | 9 |
Available for sale securities, 12 months or longer, fair value | $ 77,714 | $ 117,963 |
Available for sale securities, 12 months or longer, unrealized losses | $ (170) | $ (3,270) |
Available for sale securities, total, number of investment positions | 7 | 10 |
Available for sale securities, total, fair value | $ 77,714 | $ 118,953 |
Available for sale securities, total, unrealized losses | $ (170) | $ (3,275) |
Agency Residential MBS [Member] | ||
Available for sale securities, less than 12 months, number of investment positions | 0 | 8 |
Available for sale securities, less than 12 months, fair value | $ 0 | $ 107,497 |
Available for sale securities, less than 12 months, unrealized losses | $ 0 | $ (507) |
Available for sale securities, 12 months or longer, number of investment positions | 54 | 58 |
Available for sale securities, 12 months or longer, fair value | $ 533,982 | $ 640,210 |
Available for sale securities, 12 months or longer, unrealized losses | $ (8,314) | $ (29,932) |
Available for sale securities, total, number of investment positions | 54 | 66 |
Available for sale securities, total, fair value | $ 533,982 | $ 747,707 |
Available for sale securities, total, unrealized losses | $ (8,314) | $ (30,439) |
Held to Maturity securities, less than 12 months, number of investment positions | 1 | 16 |
Held to Maturity securities, less than 12 months, fair value | $ 55 | $ 8,495 |
Held to Maturity securities, less than 12 months, unrecognized losses | $ 0 | $ (34) |
Held to Maturity securities, 12 months or longer, number of investment positions | 63 | 78 |
Held to Maturity securities, 12 months or longer, fair value | $ 350,418 | $ 412,574 |
Held to Maturity securities, 12 months or longer, unrecognized losses | $ (3,861) | $ (14,095) |
Held to Maturity securities, total, number of investment positions | 64 | 94 |
Held to Maturity securities, total, fair value | $ 350,473 | $ 421,069 |
Held to Maturity securities, total, unrecognized losses | $ (3,861) | $ (14,129) |
US Treasury Securities [Member] | ||
Available for sale securities, less than 12 months, number of investment positions | 2 | |
Available for sale securities, less than 12 months, fair value | $ 54,805 | |
Available for sale securities, less than 12 months, unrealized losses | $ (3) | |
Available for sale securities, 12 months or longer, number of investment positions | 0 | |
Available for sale securities, 12 months or longer, fair value | $ 0 | |
Available for sale securities, 12 months or longer, unrealized losses | $ 0 | |
Available for sale securities, total, number of investment positions | 2 | |
Available for sale securities, total, fair value | $ 54,805 | |
Available for sale securities, total, unrealized losses | $ (3) | |
US States and Political Subdivisions Debt Securities [Member] | ||
Available for sale securities, less than 12 months, number of investment positions | 2 | 32 |
Available for sale securities, less than 12 months, fair value | $ 1,054 | $ 26,452 |
Available for sale securities, less than 12 months, unrealized losses | $ 0 | $ (166) |
Available for sale securities, 12 months or longer, number of investment positions | 25 | 71 |
Available for sale securities, 12 months or longer, fair value | $ 10,643 | $ 67,121 |
Available for sale securities, 12 months or longer, unrealized losses | $ (100) | $ (2,819) |
Available for sale securities, total, number of investment positions | 27 | 103 |
Available for sale securities, total, fair value | $ 11,697 | $ 93,573 |
Available for sale securities, total, unrealized losses | $ (100) | $ (2,985) |
Held to Maturity securities, less than 12 months, number of investment positions | 0 | 97 |
Held to Maturity securities, less than 12 months, fair value | $ 0 | $ 83,633 |
Held to Maturity securities, less than 12 months, unrecognized losses | $ 0 | $ (271) |
Held to Maturity securities, 12 months or longer, number of investment positions | 13 | 142 |
Held to Maturity securities, 12 months or longer, fair value | $ 10,516 | $ 151,546 |
Held to Maturity securities, 12 months or longer, unrecognized losses | $ (19) | $ (2,456) |
Held to Maturity securities, total, number of investment positions | 13 | 239 |
Held to Maturity securities, total, fair value | $ 10,516 | $ 235,179 |
Held to Maturity securities, total, unrecognized losses | $ (19) | $ (2,727) |
Non-agency Residential MBS [Member] | ||
Held to Maturity securities, less than 12 months, number of investment positions | 1 | |
Held to Maturity securities, less than 12 months, fair value | $ 26 | |
Held to Maturity securities, less than 12 months, unrecognized losses | $ 0 | |
Held to Maturity securities, 12 months or longer, number of investment positions | 0 | |
Held to Maturity securities, 12 months or longer, fair value | $ 0 | |
Held to Maturity securities, 12 months or longer, unrecognized losses | $ 0 | |
Held to Maturity securities, total, number of investment positions | 1 | |
Held to Maturity securities, total, fair value | $ 26 | |
Held to Maturity securities, total, unrecognized losses | $ 0 | |
Agency Commercial MBS [Member] | ||
Available for sale securities, less than 12 months, number of investment positions | 0 | 1 |
Available for sale securities, less than 12 months, fair value | $ 0 | $ 1,842 |
Available for sale securities, less than 12 months, unrealized losses | $ 0 | $ (27) |
Available for sale securities, 12 months or longer, number of investment positions | 1 | 0 |
Available for sale securities, 12 months or longer, fair value | $ 1,833 | $ 0 |
Available for sale securities, 12 months or longer, unrealized losses | $ (19) | $ 0 |
Available for sale securities, total, number of investment positions | 1 | 1 |
Available for sale securities, total, fair value | $ 1,833 | $ 1,842 |
Available for sale securities, total, unrealized losses | $ (19) | $ (27) |
US Government Agencies Debt Securities [Member] | ||
Available for sale securities, less than 12 months, number of investment positions | 0 | 0 |
Available for sale securities, less than 12 months, fair value | $ 0 | $ 0 |
Available for sale securities, less than 12 months, unrealized losses | $ 0 | $ 0 |
Available for sale securities, 12 months or longer, number of investment positions | 2 | 2 |
Available for sale securities, 12 months or longer, fair value | $ 808 | $ 1,119 |
Available for sale securities, 12 months or longer, unrealized losses | $ (7) | $ (9) |
Available for sale securities, total, number of investment positions | 2 | 2 |
Available for sale securities, total, fair value | $ 808 | $ 1,119 |
Available for sale securities, total, unrealized losses | $ (7) | $ (9) |
Debt Security, Corporate, US [Member] | ||
Available for sale securities, less than 12 months, number of investment positions | 2 | 38 |
Available for sale securities, less than 12 months, fair value | $ 10,692 | $ 308,157 |
Available for sale securities, less than 12 months, unrealized losses | $ (67) | $ (3,403) |
Available for sale securities, 12 months or longer, number of investment positions | 32 | 79 |
Available for sale securities, 12 months or longer, fair value | $ 275,533 | $ 722,740 |
Available for sale securities, 12 months or longer, unrealized losses | $ (2,052) | $ (20,239) |
Available for sale securities, total, number of investment positions | 34 | 117 |
Available for sale securities, total, fair value | $ 286,225 | $ 1,030,897 |
Available for sale securities, total, unrealized losses | $ (2,119) | $ (23,642) |
Note 3 - Investment Securitie_6
Note 3 - Investment Securities - Interest Income From Investment Securities (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Taxable | $ 18,773 | $ 15,598 | $ 37,406 | $ 30,547 |
Tax-exempt from regular federal income tax | 4,073 | 5,027 | 8,388 | 9,888 |
Total interest income from investment securities | $ 22,846 | $ 20,625 | $ 45,794 | $ 40,435 |
Note 4 - Loans, Allowance for_3
Note 4 - Loans, Allowance for Loan Losses and Other Real Estate Owned (Details Textual) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2019USD ($) | Jun. 30, 2018 | Jun. 30, 2019USD ($) | Jun. 30, 2018 | Dec. 31, 2018USD ($) | |
FDIC Indemnification Asset, Ending Balance | $ 5,713 | ||||
Percent of Principal Covered by FDIC | 80.00% | ||||
Purchased Loans | $ 58,247 | ||||
Loans and Leases Receivable, Nonaccrual, Commitment to Lend | $ 0 | $ 0 | 0 | ||
Financing Receivable, Troubled Debt Restructuring | $ 7,434 | $ 7,434 | 8,579 | ||
Troubled Debt Restructurings During Period | 0 | 0 | 0 | 0 | |
Financing Receivable, Troubled Debt Restructuring, Subsequent Default, Number of Contracts | 0 | 0 | 0 | 0 | |
Pledged Financial Instruments, Not Separately Reported, Loans Receivable Pledged as Collateral, Total | $ 0 | $ 0 | 0 | ||
Loans Receivable Held-for-sale, Amount | 0 | 0 | 0 | ||
Other Real Estate, Ending Balance | 43 | 43 | 350 | ||
Other Real Estate, Reserve | 0 | 0 | 0 | ||
Real Estate Acquired Through Foreclosure | 0 | 0 | 0 | ||
Mortgage Loans in Process of Foreclosure, Amount | 114 | 114 | 516 | ||
Restructured Loans [Member] | |||||
Financing Receivable, Troubled Debt Restructuring | 7,434 | 7,434 | 8,579 | ||
Impaired Loans, Restructured, Nonaccrual Status | $ 3,670 | $ 3,670 | $ 4,225 |
Note 4 - Loans, Allowance for_4
Note 4 - Loans, Allowance for Loan Losses and Other Real Estate Owned - Loans Receivable at Carrying Amount (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
Loans | $ 1,161,712 | $ 1,207,202 |
Commercial Portfolio Segment [Member] | ||
Loans | 243,577 | 275,080 |
Commercial Real Estate Portfolio Segment [Member] | ||
Loans | 577,665 | 580,480 |
Construction Portfolio Segment [Member] | ||
Loans | 5,482 | 3,982 |
Residential Portfolio Segment [Member] | ||
Loans | 37,813 | 44,866 |
Consumer Portfolio Segment [Member] | ||
Loans | $ 297,175 | $ 302,794 |
Note 4 - Loans, Allowance for_5
Note 4 - Loans, Allowance for Loan Losses and Other Real Estate Owned - Changes in the Accretable Yield for Purchased Loans (Details) - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended |
Jun. 30, 2019 | Dec. 31, 2018 | |
Balance at the beginning of the period | $ 182 | $ 738 |
Reclassification from nonaccretable difference | 1,103 | 1,119 |
Accretion | (257) | (1,675) |
Balance at the end of the period | 1,028 | 182 |
Change in FDIC indemnification | 0 | 2 |
(Increase) in interest income | $ (257) | $ (1,673) |
Note 4 - Loans, Allowance for_6
Note 4 - Loans, Allowance for Loan Losses and Other Real Estate Owned - Allowance for Loan Losses (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Balance at beginning of period | $ 20,477 | $ 23,081 | $ 21,351 | $ 23,009 |
(Reversal) provision | 0 | 0 | 0 | 0 |
Chargeoffs | (973) | (805) | (2,364) | (2,211) |
Recoveries | 613 | 764 | 1,130 | 2,242 |
Total allowance for loan losses | 20,117 | 23,040 | 20,117 | 23,040 |
Unallocated Financing Receivable [Member] | ||||
Balance at beginning of period | 3,449 | 3,918 | 3,177 | 3,666 |
(Reversal) provision | 603 | (159) | 875 | 93 |
Chargeoffs | 0 | 0 | 0 | 0 |
Recoveries | 0 | 0 | 0 | 0 |
Total allowance for loan losses | 4,052 | 3,759 | 4,052 | 3,759 |
Commercial Portfolio Segment [Member] | ||||
Balance at beginning of period | 6,506 | 8,517 | 6,311 | 7,746 |
(Reversal) provision | (1,346) | (662) | (1,221) | (679) |
Chargeoffs | (48) | 0 | (71) | (41) |
Recoveries | 123 | 420 | 216 | 1,249 |
Total allowance for loan losses | 5,235 | 8,275 | 5,235 | 8,275 |
Commercial Real Estate Portfolio Segment [Member] | ||||
Balance at beginning of period | 3,927 | 3,824 | 3,884 | 3,849 |
(Reversal) provision | 116 | (35) | 147 | (60) |
Chargeoffs | 0 | 0 | 0 | 0 |
Recoveries | 14 | 0 | 26 | 0 |
Total allowance for loan losses | 4,057 | 3,789 | 4,057 | 3,789 |
Construction Portfolio Segment [Member] | ||||
Balance at beginning of period | 853 | 175 | 1,465 | 335 |
(Reversal) provision | 264 | 35 | (348) | (125) |
Chargeoffs | 0 | 0 | 0 | 0 |
Recoveries | 0 | 0 | 0 | 0 |
Total allowance for loan losses | 1,117 | 210 | 1,117 | 210 |
Residential Portfolio Segment [Member] | ||||
Balance at beginning of period | 261 | 908 | 869 | 995 |
(Reversal) provision | (23) | 156 | (631) | 69 |
Chargeoffs | 0 | 0 | 0 | 0 |
Recoveries | 0 | 0 | 0 | 0 |
Total allowance for loan losses | 238 | 1,064 | 238 | 1,064 |
Consumer Portfolio Segment [Member] | ||||
Balance at beginning of period | 5,481 | 5,739 | 5,645 | 6,418 |
(Reversal) provision | 386 | 665 | 1,178 | 702 |
Chargeoffs | (925) | (805) | (2,293) | (2,170) |
Recoveries | 476 | 344 | 888 | 993 |
Total allowance for loan losses | $ 5,418 | $ 5,943 | $ 5,418 | $ 5,943 |
Note 4 - Loans, Allowance for_7
Note 4 - Loans, Allowance for Loan Losses and Other Real Estate Owned - Recorded Investment in Loans Evaluated for Impairment (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 |
wabc_AllowanceForLoanLossesAbstract | ||||||
Individually evaluated for impairment | $ 2,587 | $ 2,752 | ||||
Collectively evaluated for impairment | 17,530 | 18,599 | ||||
Total | 20,117 | $ 20,477 | 21,351 | $ 23,040 | $ 23,081 | $ 23,009 |
wabc_CarryingValueOfLoansAbstract | ||||||
Individually evaluated for impairment | 16,171 | 19,242 | ||||
Collectively evaluated for impairment | 1,145,541 | 1,187,960 | ||||
Total | 1,161,712 | 1,207,202 | ||||
Unallocated Financing Receivable [Member] | ||||||
wabc_AllowanceForLoanLossesAbstract | ||||||
Individually evaluated for impairment | 0 | 0 | ||||
Collectively evaluated for impairment | 4,052 | 3,177 | ||||
Total | 4,052 | 3,449 | 3,177 | 3,759 | 3,918 | 3,666 |
wabc_CarryingValueOfLoansAbstract | ||||||
Individually evaluated for impairment | 0 | 0 | ||||
Collectively evaluated for impairment | 0 | 0 | ||||
Total | 0 | 0 | ||||
Commercial Portfolio Segment [Member] | ||||||
wabc_AllowanceForLoanLossesAbstract | ||||||
Individually evaluated for impairment | 2,587 | 2,752 | ||||
Collectively evaluated for impairment | 2,648 | 3,559 | ||||
Total | 5,235 | 6,506 | 6,311 | 8,275 | 8,517 | 7,746 |
wabc_CarryingValueOfLoansAbstract | ||||||
Individually evaluated for impairment | 9,368 | 9,944 | ||||
Collectively evaluated for impairment | 234,209 | 265,136 | ||||
Total | 243,577 | 275,080 | ||||
Commercial Real Estate Portfolio Segment [Member] | ||||||
wabc_AllowanceForLoanLossesAbstract | ||||||
Individually evaluated for impairment | 0 | 0 | ||||
Collectively evaluated for impairment | 4,057 | 3,884 | ||||
Total | 4,057 | 3,927 | 3,884 | 3,789 | 3,824 | 3,849 |
wabc_CarryingValueOfLoansAbstract | ||||||
Individually evaluated for impairment | 6,531 | 8,438 | ||||
Collectively evaluated for impairment | 571,134 | 572,042 | ||||
Total | 577,665 | 580,480 | ||||
Construction Portfolio Segment [Member] | ||||||
wabc_AllowanceForLoanLossesAbstract | ||||||
Individually evaluated for impairment | 0 | 0 | ||||
Collectively evaluated for impairment | 1,117 | 1,465 | ||||
Total | 1,117 | 853 | 1,465 | 210 | 175 | 335 |
wabc_CarryingValueOfLoansAbstract | ||||||
Individually evaluated for impairment | 0 | 0 | ||||
Collectively evaluated for impairment | 5,482 | 3,982 | ||||
Total | 5,482 | 3,982 | ||||
Residential Portfolio Segment [Member] | ||||||
wabc_AllowanceForLoanLossesAbstract | ||||||
Individually evaluated for impairment | 0 | 0 | ||||
Collectively evaluated for impairment | 238 | 869 | ||||
Total | 238 | 261 | 869 | 1,064 | 908 | 995 |
wabc_CarryingValueOfLoansAbstract | ||||||
Individually evaluated for impairment | 195 | 717 | ||||
Collectively evaluated for impairment | 37,618 | 44,149 | ||||
Total | 37,813 | 44,866 | ||||
Consumer Portfolio Segment [Member] | ||||||
wabc_AllowanceForLoanLossesAbstract | ||||||
Individually evaluated for impairment | 0 | 0 | ||||
Collectively evaluated for impairment | 5,418 | 5,645 | ||||
Total | 5,418 | $ 5,481 | 5,645 | $ 5,943 | $ 5,739 | $ 6,418 |
wabc_CarryingValueOfLoansAbstract | ||||||
Individually evaluated for impairment | 77 | 143 | ||||
Collectively evaluated for impairment | 297,098 | 302,651 | ||||
Total | $ 297,175 | $ 302,794 |
Note 4 - Loans, Allowance for_8
Note 4 - Loans, Allowance for Loan Losses and Other Real Estate Owned - Credit Risk Profile by Internally Assigned Grade (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
Loans | $ 1,161,712 | $ 1,207,202 |
Pass [Member] | ||
Loans | 1,137,147 | 1,179,859 |
Substandard [Member] | ||
Loans | 24,118 | 26,658 |
Doubtful [Member] | ||
Loans | 271 | 135 |
Unlikely to be Collected Financing Receivable [Member] | ||
Loans | 176 | 550 |
Commercial Portfolio Segment [Member] | ||
Loans | 243,577 | 275,080 |
Commercial Portfolio Segment [Member] | Pass [Member] | ||
Loans | 234,053 | 264,634 |
Commercial Portfolio Segment [Member] | Substandard [Member] | ||
Loans | 9,524 | 10,446 |
Commercial Portfolio Segment [Member] | Doubtful [Member] | ||
Loans | 0 | 0 |
Commercial Portfolio Segment [Member] | Unlikely to be Collected Financing Receivable [Member] | ||
Loans | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | ||
Loans | 577,665 | 580,480 |
Commercial Real Estate Portfolio Segment [Member] | Pass [Member] | ||
Loans | 566,359 | 567,578 |
Commercial Real Estate Portfolio Segment [Member] | Substandard [Member] | ||
Loans | 11,306 | 12,902 |
Commercial Real Estate Portfolio Segment [Member] | Doubtful [Member] | ||
Loans | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Unlikely to be Collected Financing Receivable [Member] | ||
Loans | 0 | 0 |
Construction Portfolio Segment [Member] | ||
Loans | 5,482 | 3,982 |
Construction Portfolio Segment [Member] | Pass [Member] | ||
Loans | 5,482 | 3,982 |
Construction Portfolio Segment [Member] | Substandard [Member] | ||
Loans | 0 | 0 |
Construction Portfolio Segment [Member] | Doubtful [Member] | ||
Loans | 0 | 0 |
Construction Portfolio Segment [Member] | Unlikely to be Collected Financing Receivable [Member] | ||
Loans | 0 | 0 |
Residential Portfolio Segment [Member] | ||
Loans | 37,813 | 44,866 |
Residential Portfolio Segment [Member] | Pass [Member] | ||
Loans | 36,076 | 43,112 |
Residential Portfolio Segment [Member] | Substandard [Member] | ||
Loans | 1,737 | 1,754 |
Residential Portfolio Segment [Member] | Doubtful [Member] | ||
Loans | 0 | 0 |
Residential Portfolio Segment [Member] | Unlikely to be Collected Financing Receivable [Member] | ||
Loans | 0 | 0 |
Consumer Portfolio Segment [Member] | ||
Loans | 297,175 | 302,794 |
Consumer Portfolio Segment [Member] | Pass [Member] | ||
Loans | 295,177 | 300,553 |
Consumer Portfolio Segment [Member] | Substandard [Member] | ||
Loans | 1,551 | 1,556 |
Consumer Portfolio Segment [Member] | Doubtful [Member] | ||
Loans | 271 | 135 |
Consumer Portfolio Segment [Member] | Unlikely to be Collected Financing Receivable [Member] | ||
Loans | $ 176 | $ 550 |
Note 4 - Loans, Allowance for_9
Note 4 - Loans, Allowance for Loan Losses and Other Real Estate Owned - Loans by Delinquency and Nonaccrual Status (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
Current and accruing | $ 1,150,349 | $ 1,193,853 |
Nonaccrual | 3,847 | 4,868 |
Total | 1,161,712 | 1,207,202 |
Financial Asset, 30 to 59 Days Past Due [Member] | ||
Past due and accruing | 6,446 | 5,595 |
Financial Asset, 60 to 89 Days Past Due [Member] | ||
Past due and accruing | 821 | 2,335 |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Past due and accruing | 249 | 551 |
Commercial Portfolio Segment [Member] | ||
Current and accruing | 243,187 | 274,045 |
Nonaccrual | 100 | 0 |
Total | 243,577 | 275,080 |
Commercial Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Past due and accruing | 290 | 781 |
Commercial Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Past due and accruing | 0 | 254 |
Commercial Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Past due and accruing | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | ||
Current and accruing | 570,463 | 574,853 |
Nonaccrual | 3,670 | 4,225 |
Total | 577,665 | 580,480 |
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Past due and accruing | 3,472 | 617 |
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Past due and accruing | 60 | 785 |
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Past due and accruing | 0 | 0 |
Construction Portfolio Segment [Member] | ||
Current and accruing | 5,482 | 3,982 |
Nonaccrual | 0 | 0 |
Total | 5,482 | 3,982 |
Construction Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Past due and accruing | 0 | 0 |
Construction Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Past due and accruing | 0 | 0 |
Construction Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Past due and accruing | 0 | 0 |
Residential Portfolio Segment [Member] | ||
Current and accruing | 37,533 | 43,372 |
Nonaccrual | 0 | 516 |
Total | 37,813 | 44,866 |
Residential Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Past due and accruing | 280 | 789 |
Residential Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Past due and accruing | 0 | 189 |
Residential Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Past due and accruing | 0 | 0 |
Consumer Portfolio Segment [Member] | ||
Current and accruing | 293,684 | 297,601 |
Nonaccrual | 77 | 127 |
Total | 297,175 | 302,794 |
Consumer Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Past due and accruing | 2,404 | 3,408 |
Consumer Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Past due and accruing | 761 | 1,107 |
Consumer Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Past due and accruing | $ 249 | $ 551 |
Note 4 - Loans, Allowance fo_10
Note 4 - Loans, Allowance for Loan Losses and Other Real Estate Owned - Impaired Loans (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
Impaired loans with no related allowance recorded, recorded investment | $ 7,558 | $ 10,180 |
Impaired loans with no related allowance recorded, unpaid principal balance | 9,070 | 12,256 |
Impaired loans with an allowance recorded, recorded investment | 8,613 | 9,189 |
Impaired loans with an allowance recorded, unpaid principal balance | 8,613 | 9,189 |
Impaired loans with an allowance recorded, related allowance | 2,587 | 2,752 |
Total impaired loans, recorded investment | 16,171 | 19,369 |
Total impaired loans, unpaid principal balance | 17,683 | 21,445 |
Commercial Portfolio Segment [Member] | ||
Impaired loans with no related allowance recorded, recorded investment | 755 | 755 |
Impaired loans with no related allowance recorded, unpaid principal balance | 755 | 759 |
Impaired loans with an allowance recorded, recorded investment | 8,613 | 9,189 |
Impaired loans with an allowance recorded, unpaid principal balance | 8,613 | 9,189 |
Impaired loans with an allowance recorded, related allowance | 2,587 | 2,752 |
Commercial Real Estate Portfolio Segment [Member] | ||
Impaired loans with no related allowance recorded, recorded investment | 6,531 | 8,438 |
Impaired loans with no related allowance recorded, unpaid principal balance | 7,978 | 10,373 |
Impaired loans with an allowance recorded, recorded investment | 0 | 0 |
Impaired loans with an allowance recorded, unpaid principal balance | 0 | 0 |
Impaired loans with an allowance recorded, related allowance | 0 | 0 |
Residential Portfolio Segment [Member] | ||
Impaired loans with no related allowance recorded, recorded investment | 195 | 717 |
Impaired loans with no related allowance recorded, unpaid principal balance | 225 | 747 |
Consumer Portfolio Segment [Member] | ||
Impaired loans with no related allowance recorded, recorded investment | 77 | 270 |
Impaired loans with no related allowance recorded, unpaid principal balance | $ 112 | $ 377 |
Note 4 - Loans, Allowance fo_11
Note 4 - Loans, Allowance for Loan Losses and Other Real Estate Owned - Impaired Loans, Supplemental Schedule (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Average Recorded Investment | $ 16,474 | $ 22,985 | $ 16,773 | $ 24,100 |
Recognized Interest Income | 294 | 363 | 611 | 760 |
Commercial Portfolio Segment [Member] | ||||
Average Recorded Investment | 9,662 | 10,689 | 9,755 | 10,793 |
Recognized Interest Income | 165 | 145 | 332 | 320 |
Commercial Real Estate Portfolio Segment [Member] | ||||
Average Recorded Investment | 6,539 | 11,837 | 6,716 | 12,796 |
Recognized Interest Income | 126 | 211 | 273 | 426 |
Residential Portfolio Segment [Member] | ||||
Average Recorded Investment | 196 | 205 | 197 | 206 |
Recognized Interest Income | 3 | 4 | 6 | 8 |
Consumer Portfolio Segment [Member] | ||||
Average Recorded Investment | 77 | 254 | 105 | 305 |
Recognized Interest Income | $ 0 | $ 3 | $ 0 | $ 6 |
Note 4 - Loans, Allowance fo_12
Note 4 - Loans, Allowance for Loan Losses and Other Real Estate Owned - Troubled Debt Restructurings (Details) $ in Thousands | 6 Months Ended | 12 Months Ended |
Jun. 30, 2019USD ($) | Dec. 31, 2018USD ($) | |
Number of Contracts | 11 | 13 |
Pre-Modification Carrying Value | $ 10,882 | $ 11,752 |
Financing Receivable, Troubled Debt Restructuring | 7,434 | 8,579 |
Period-End Individual Impairment Allowance | $ 19 | $ 19 |
Commercial Portfolio Segment [Member] | ||
Number of Contracts | 4 | 4 |
Pre-Modification Carrying Value | $ 2,274 | $ 2,274 |
Financing Receivable, Troubled Debt Restructuring | 708 | 811 |
Period-End Individual Impairment Allowance | $ 19 | $ 19 |
Commercial Real Estate Portfolio Segment [Member] | ||
Number of Contracts | 6 | 8 |
Pre-Modification Carrying Value | $ 8,367 | $ 9,237 |
Financing Receivable, Troubled Debt Restructuring | 6,531 | 7,568 |
Period-End Individual Impairment Allowance | $ 0 | $ 0 |
Residential Portfolio Segment [Member] | ||
Number of Contracts | 1 | 1 |
Pre-Modification Carrying Value | $ 241 | $ 241 |
Financing Receivable, Troubled Debt Restructuring | 195 | 200 |
Period-End Individual Impairment Allowance | $ 0 | $ 0 |
Note 5 - Concentration of Cre_2
Note 5 - Concentration of Credit Risk (Details Textual) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
Unsecured Loan Limit, Percentage of Shareholders' Equity, California Financial Code | 15.00% | |
Secured and Unsecured Loan Limit Percentage, California Financial Code | 25.00% | |
Concentration Risk, Issuer Relationships | 77 | |
Loan Commitments and Standby Letters of Credit Related to Real Estate Loans | $ 49,166 | $ 53,891 |
Concentration Risk, Aggregate Securities Amount | $ 5,000 | |
Commercial Real Estate Loans [Member] | ||
Loan To Value Ratio Requirement | 75.00% | |
Residential Real Estate Loans [Member] | ||
Loan To Value Ratio Requirement | 80.00% | |
Aggregate Loans [Member] | Customer Concentration Risk [Member] | ||
Concentration Risk, Issuer Relationships | 33 | |
Concentration Risk, Aggregate Loans Amount | $ 5,000 |
Note 6 - Other Assets and Oth_3
Note 6 - Other Assets and Other Liabilities (Details Textual) $ / shares in Units, shares in Thousands, $ in Thousands | Jun. 28, 2018 | Jun. 30, 2019USD ($)shares | Jun. 30, 2019USD ($)shares | Jun. 28, 2019$ / shares | Dec. 31, 2018USD ($) |
FRB Membership, Stock Subscription, Percent of Paid-Up Capital Stock and Surplus Requirement | 6.00% | ||||
Deferred Tax Assets, Net, Total | $ 15,375 | $ 15,375 | $ 42,256 | ||
Deferred Tax Liabilities, Other Comprehensive Income | 5,509 | 5,509 | |||
Deferred Tax Assets, Other Comprehensive Loss | 16,787 | ||||
LIHTC Investments | 8,743 | 8,743 | 10,219 | ||
Qualified Affordable Housing Project Investments, Commitment | $ 4,766 | $ 4,766 | 4,799 | ||
Lessee, Operating Lease, Term of Contract | 5 years | 5 years | |||
Lessee, Operating Lease, Renewal Term | 5 years | 5 years | |||
Operating Lease, Right-of-Use Asset | $ 20,506 | $ 20,506 | 0 | ||
Operating Lease, Liability, Total | $ 20,506 | $ 20,506 | $ 0 | ||
Operating Lease, Weighted Average Remaining Lease Term | 3 years 11 months 8 days | 3 years 11 months 8 days | |||
Operating Lease, Weighted Average Discount Rate, Percent | 2.97% | 2.97% | |||
Operating Lease, Cost | $ 1,714 | $ 3,419 | |||
Contingent Commitment, Remainder of Fiscal Year [Member] | |||||
Qualified Affordable Housing Project Investments, Commitment | 601 | 601 | |||
Contingent Commitment, Year 2 [Member] | |||||
Qualified Affordable Housing Project Investments, Commitment | 2,027 | 2,027 | |||
Contingent Commitment, Year 3 [Member] | |||||
Qualified Affordable Housing Project Investments, Commitment | 138 | 138 | |||
Contingent Commitment, Year 4 [Member] | |||||
Qualified Affordable Housing Project Investments, Commitment | 261 | 261 | |||
Contingent Commitment, Year 5 [Member] | |||||
Qualified Affordable Housing Project Investments, Commitment | 134 | 134 | |||
Contingent Commitment, Year 6 [Member] | |||||
Qualified Affordable Housing Project Investments, Commitment | 1,041 | 1,041 | |||
Contingent Commitment, Year 7 or Thereafter [Member] | |||||
Qualified Affordable Housing Project Investments, Commitment | $ 564 | $ 564 | |||
Visa Inc. [Member] | Common Class A [Member] | |||||
Share Price | $ / shares | $ 173.55 | ||||
VISA Class B Common Stock [Member] | |||||
Investment Owned, Balance, Shares | shares | 211 | 211 | |||
Conversion Rate of Class B Common Stock into Class A Common Stock | 1.6298 | ||||
VISA Class B Common Stock [Member] | Reported Value Measurement [Member] | |||||
Investment Owned, at Fair Value | $ 0 | $ 0 |
Note 6 - Other Assets and Oth_4
Note 6 - Other Assets and Other Liabilities - Summary of Other Assets (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 | |
Federal Reserve Bank stock | [1] | $ 14,069 | $ 14,069 |
Other investments | 158 | 158 | |
Total cost method equity investments | 14,227 | 14,227 | |
Life insurance cash surrender value | 56,528 | 56,083 | |
Net deferred tax asset | 15,375 | 42,256 | |
Right-of-use asset | 20,506 | 0 | |
Limited partnership investments | 8,743 | 10,219 | |
Interest receivable | 26,507 | 25,834 | |
Prepaid assets | 3,717 | 4,658 | |
Other assets | 14,709 | 9,629 | |
Total other assets | $ 160,312 | $ 162,906 | |
[1] | A bank applying for membership in the Federal Reserve System is required to subscribe to stock in the Federal Reserve Bank (FRB) in its district 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. |
Note 6 - Other Assets and Oth_5
Note 6 - Other Assets and Other Liabilities - Amounts Recognized in Net Income (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Investment loss included in pre-tax income | $ 600 | $ 700 | $ 1,200 | $ 1,300 |
Tax credits recognized in provision for income taxes | $ 225 | $ 336 | $ 450 | $ 672 |
Note 6 - Other Assets and Oth_6
Note 6 - Other Assets and Other Liabilities - Other Liabilities (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
Operating lease liability | $ 20,506 | $ 0 |
Other liabilities | 24,662 | 34,849 |
Total other liabilities | $ 45,168 | $ 34,849 |
Note 6 - Other Assets and Oth_7
Note 6 - Other Assets and Other Liabilities - Maturity of Operating Lease Liabilities (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
Remaining six months of 2019 | $ 3,220 | |
2020 | 6,091 | |
2021 | 4,376 | |
2022 | 3,485 | |
2023 | 2,804 | |
Thereafter | 1,955 | |
Total minimum lease payments | 21,931 | |
Less: discount | (1,425) | |
Operating lease liability | $ 20,506 | $ 0 |
Note 6 - Other Assets and Oth_8
Note 6 - Other Assets and Other Liabilities - Noncancelable Operating Leases (Details) $ in Thousands | Dec. 31, 2018USD ($) |
2019 | $ 5,996 |
2020 | 4,409 |
2021 | 2,741 |
2022 | 1,921 |
2023 | 1,223 |
Thereafter | 1,044 |
Total minimum lease payments | $ 17,334 |
Note 7 - Goodwill and Identif_3
Note 7 - Goodwill and Identifiable Intangible Assets (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | 12 Months Ended |
Jun. 30, 2019 | Jun. 30, 2019 | Dec. 31, 2018 | |
Goodwill and Intangible Asset Impairment, Total | $ 0 | $ 0 | $ 0 |
Amortization Expense, Adjustment Resulting from a Change in Estimates of Useful Lives or Residual Values | $ 0 | $ 0 | $ 0 |
Note 7 - Goodwill and Identif_4
Note 7 - Goodwill and Identifiable Intangible Assets - Carrying Values of Goodwill (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
Goodwill | $ 121,673 | $ 121,673 |
Note 7 - Goodwill and Identif_5
Note 7 - Goodwill and Identifiable Intangible Assets - Gross Carrying Amount of Intangible Assets and Accumulated Amortization (Details) - Core Deposits [Member] - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
Gross Carrying Amount | $ 56,808 | $ 56,808 |
Accumulated Amortization | $ (55,268) | $ (54,879) |
Note 7 - Goodwill and Identif_6
Note 7 - Goodwill and Identifiable Intangible Assets - Estimated Future Amortization Expense for Identifiable Intangible Assets (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
For the Six Months ended June 30, 2019 (actual) | $ 79 | $ 453 | $ 389 | $ 1,023 |
Core Deposits [Member] | ||||
For the Six Months ended June 30, 2019 (actual) | 389 | |||
Estimate for the remainder of year ending December 31, 2019 | 149 | 149 | ||
Estimate for year ending December 31, 2020 | 287 | 287 | ||
2021 | 269 | 269 | ||
2022 | 252 | 252 | ||
2023 | 236 | 236 | ||
2024 | $ 222 | $ 222 |
Note 8 - Deposits and Borrowe_3
Note 8 - Deposits and Borrowed Funds (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | Dec. 31, 2018 | |
Demand Deposit Overdrafts | $ 866 | $ 866 | $ 980 | ||
Interest Expense, Time Deposits, $100,000 or More | $ 82 | $ 95 | $ 164 | $ 192 |
Note 8 - Deposits and Borrowe_4
Note 8 - Deposits and Borrowed Funds - Deposits Detail (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
Noninterest-bearing | $ 2,163,841 | $ 2,243,251 |
Interest-bearing: | ||
Transaction | 942,140 | 929,346 |
Savings | 1,442,552 | 1,498,991 |
Time deposits less than $100 thousand | 95,587 | 102,654 |
Time deposits $100 thousand through $250 thousand | 58,667 | 64,512 |
Time deposits more than $250 thousand | 27,475 | 28,085 |
Total deposits | $ 4,730,262 | $ 4,866,839 |
Note 8 - Deposits and Borrowe_5
Note 8 - Deposits and Borrowed Funds - Short-term Borrowed Funds (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
Collateral Carrying Value | $ 247,389 | $ 224,020 |
Short-term borrowed funds | 54,581 | 51,247 |
US Government-sponsored Enterprises Debt Securities [Member] | ||
Collateral Carrying Value | 75,785 | 73,803 |
Agency Residential MBS [Member] | ||
Collateral Carrying Value | 56,960 | 58,380 |
Corporate Debt Securities [Member] | ||
Collateral Carrying Value | $ 114,644 | $ 91,837 |
Note 9 - Fair Value Measureme_3
Note 9 - Fair Value Measurements (Details Textual) | 6 Months Ended |
Jun. 30, 2019 | |
Securities Selected for OTTI Analysis, Market Price, Threshold | 95.00% |
Fair Value, Inputs, Level 3 [Member] | |
Fair Value Inputs, Appraisal Rate | 10.00% |
Note 9 - Fair Value Measureme_4
Note 9 - Fair Value Measurements - Assets Measured at Fair Value on a Recurring Basis (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 | Jan. 01, 2018 | ||
Equity securities | $ 1,797 | $ 1,747 | $ 1,800 | ||
Investment securities available for sale | 2,775,899 | 2,654,670 | |||
US Treasury Securities [Member] | |||||
Investment securities available for sale | 44,573 | 139,574 | |||
US Government-sponsored Enterprises Debt Securities [Member] | |||||
Investment securities available for sale | 167,138 | 164,018 | |||
Agency Residential MBS [Member] | |||||
Investment securities available for sale | 986,946 | 853,871 | |||
Non-agency Residential MBS [Member] | |||||
Investment securities available for sale | 112 | 114 | |||
Agency Commercial MBS [Member] | |||||
Investment securities available for sale | 5,621 | 1,842 | |||
US Government Agencies Debt Securities [Member] | |||||
Investment securities available for sale | 808 | 1,119 | |||
US States and Political Subdivisions Debt Securities [Member] | |||||
Investment securities available for sale | 175,654 | 179,091 | |||
Debt Security, Corporate, US [Member] | |||||
Investment securities available for sale | 1,395,047 | 1,315,041 | |||
Fair Value, Recurring [Member] | |||||
Equity securities | 1,797 | 1,747 | |||
Investment securities available for sale | 2,775,899 | 2,654,670 | |||
Total | 2,777,696 | 2,656,417 | |||
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | |||||
Equity securities | 0 | 0 | |||
Investment securities available for sale | 44,573 | 139,574 | |||
Total | 44,573 | 139,574 | |||
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | |||||
Equity securities | 1,797 | 1,747 | |||
Investment securities available for sale | 2,731,326 | 2,515,096 | |||
Total | 2,733,123 | 2,516,843 | |||
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | |||||
Equity securities | 0 | [1] | 0 | [2] | |
Investment securities available for sale | 0 | [1] | 0 | [2] | |
Total | 0 | [1] | 0 | [2] | |
Fair Value, Recurring [Member] | Mutual Fund [Member] | |||||
Equity securities | 1,797 | 1,747 | |||
Fair Value, Recurring [Member] | Mutual Fund [Member] | Fair Value, Inputs, Level 1 [Member] | |||||
Equity securities | 0 | 0 | |||
Fair Value, Recurring [Member] | Mutual Fund [Member] | Fair Value, Inputs, Level 2 [Member] | |||||
Equity securities | 1,797 | 1,747 | |||
Fair Value, Recurring [Member] | Mutual Fund [Member] | Fair Value, Inputs, Level 3 [Member] | |||||
Equity securities | 0 | [1] | 0 | [2] | |
Fair Value, Recurring [Member] | US Treasury Securities [Member] | |||||
Investment securities available for sale | 44,573 | 139,574 | |||
Fair Value, Recurring [Member] | US Treasury Securities [Member] | Fair Value, Inputs, Level 1 [Member] | |||||
Investment securities available for sale | 44,573 | 139,574 | |||
Fair Value, Recurring [Member] | US Treasury Securities [Member] | Fair Value, Inputs, Level 2 [Member] | |||||
Investment securities available for sale | 0 | 0 | |||
Fair Value, Recurring [Member] | US Treasury Securities [Member] | Fair Value, Inputs, Level 3 [Member] | |||||
Investment securities available for sale | 0 | [1] | 0 | [2] | |
Fair Value, Recurring [Member] | US Government-sponsored Enterprises Debt Securities [Member] | |||||
Investment securities available for sale | 167,138 | 164,018 | |||
Fair Value, Recurring [Member] | US Government-sponsored Enterprises Debt Securities [Member] | Fair Value, Inputs, Level 1 [Member] | |||||
Investment securities available for sale | 0 | 0 | |||
Fair Value, Recurring [Member] | US Government-sponsored Enterprises Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member] | |||||
Investment securities available for sale | 167,138 | 164,018 | |||
Fair Value, Recurring [Member] | US Government-sponsored Enterprises Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member] | |||||
Investment securities available for sale | 0 | [1] | 0 | [2] | |
Fair Value, Recurring [Member] | Agency Residential MBS [Member] | |||||
Investment securities available for sale | 986,946 | 853,871 | |||
Fair Value, Recurring [Member] | Agency Residential MBS [Member] | Fair Value, Inputs, Level 1 [Member] | |||||
Investment securities available for sale | 0 | 0 | |||
Fair Value, Recurring [Member] | Agency Residential MBS [Member] | Fair Value, Inputs, Level 2 [Member] | |||||
Investment securities available for sale | 986,946 | 853,871 | |||
Fair Value, Recurring [Member] | Agency Residential MBS [Member] | Fair Value, Inputs, Level 3 [Member] | |||||
Investment securities available for sale | 0 | [1] | 0 | [2] | |
Fair Value, Recurring [Member] | Non-agency Residential MBS [Member] | |||||
Investment securities available for sale | 112 | 114 | |||
Fair Value, Recurring [Member] | Non-agency Residential MBS [Member] | Fair Value, Inputs, Level 1 [Member] | |||||
Investment securities available for sale | 0 | 0 | |||
Fair Value, Recurring [Member] | Non-agency Residential MBS [Member] | Fair Value, Inputs, Level 2 [Member] | |||||
Investment securities available for sale | 112 | 114 | |||
Fair Value, Recurring [Member] | Non-agency Residential MBS [Member] | Fair Value, Inputs, Level 3 [Member] | |||||
Investment securities available for sale | 0 | [1] | 0 | [2] | |
Fair Value, Recurring [Member] | Agency Commercial MBS [Member] | |||||
Investment securities available for sale | 5,621 | 1,842 | |||
Fair Value, Recurring [Member] | Agency Commercial MBS [Member] | Fair Value, Inputs, Level 1 [Member] | |||||
Investment securities available for sale | 0 | 0 | |||
Fair Value, Recurring [Member] | Agency Commercial MBS [Member] | Fair Value, Inputs, Level 2 [Member] | |||||
Investment securities available for sale | 5,621 | 1,842 | |||
Fair Value, Recurring [Member] | Agency Commercial MBS [Member] | Fair Value, Inputs, Level 3 [Member] | |||||
Investment securities available for sale | 0 | [1] | 0 | [2] | |
Fair Value, Recurring [Member] | US Government Agencies Debt Securities [Member] | |||||
Investment securities available for sale | 808 | 1,119 | |||
Fair Value, Recurring [Member] | US Government Agencies Debt Securities [Member] | Fair Value, Inputs, Level 1 [Member] | |||||
Investment securities available for sale | 0 | 0 | |||
Fair Value, Recurring [Member] | US Government Agencies Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member] | |||||
Investment securities available for sale | 808 | 1,119 | |||
Fair Value, Recurring [Member] | US Government Agencies Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member] | |||||
Investment securities available for sale | 0 | [1] | 0 | [2] | |
Fair Value, Recurring [Member] | US States and Political Subdivisions Debt Securities [Member] | |||||
Investment securities available for sale | 175,654 | 179,091 | |||
Fair Value, Recurring [Member] | US States and Political Subdivisions Debt Securities [Member] | Fair Value, Inputs, Level 1 [Member] | |||||
Investment securities available for sale | 0 | 0 | |||
Fair Value, Recurring [Member] | US States and Political Subdivisions Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member] | |||||
Investment securities available for sale | 175,654 | 179,091 | |||
Fair Value, Recurring [Member] | US States and Political Subdivisions Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member] | |||||
Investment securities available for sale | 0 | [1] | 0 | [2] | |
Fair Value, Recurring [Member] | Debt Security, Corporate, US [Member] | |||||
Investment securities available for sale | 1,395,047 | 1,315,041 | |||
Fair Value, Recurring [Member] | Debt Security, Corporate, US [Member] | Fair Value, Inputs, Level 1 [Member] | |||||
Investment securities available for sale | 0 | 0 | |||
Fair Value, Recurring [Member] | Debt Security, Corporate, US [Member] | Fair Value, Inputs, Level 2 [Member] | |||||
Investment securities available for sale | 1,395,047 | 1,315,041 | |||
Fair Value, Recurring [Member] | Debt Security, Corporate, US [Member] | Fair Value, Inputs, Level 3 [Member] | |||||
Investment securities available for sale | $ 0 | [1] | $ 0 | [2] | |
[1] | There were no transfers in to or out of level 3 during the six months ended June 30, 2019. | ||||
[2] | There were no transfers in to or out of level 3 during the year ended December 31, 2018. |
Note 9 - Fair Value Measureme_5
Note 9 - Fair Value Measurements - Assets Measured at Fair Value on a Nonrecurring Basis (Details) - Fair Value, Nonrecurring [Member] - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended |
Jun. 30, 2019 | Dec. 31, 2018 | |
Fair Value | $ 10,441 | $ 10,657 |
Total Losses | 0 | (240) |
Fair Value, Inputs, Level 1 [Member] | ||
Fair Value | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | ||
Fair Value | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | ||
Fair Value | 10,441 | 10,657 |
Other Real Estate Owned [Member] | ||
Fair Value | 43 | 350 |
Total Losses | 0 | 0 |
Other Real Estate Owned [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Fair Value | 0 | 0 |
Other Real Estate Owned [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Fair Value | 0 | 0 |
Other Real Estate Owned [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value | 43 | 350 |
Impaired Loans [Member] | Commercial Portfolio Segment [Member] | ||
Fair Value | 6,026 | 6,437 |
Total Losses | 0 | 0 |
Impaired Loans [Member] | Commercial Real Estate Portfolio Segment [Member] | ||
Fair Value | 4,100 | 3,870 |
Total Losses | 0 | (240) |
Impaired Loans [Member] | Residential Portfolio Segment [Member] | ||
Fair Value | 195 | |
Total Losses | 0 | |
Impaired Loans [Member] | Consumer Portfolio Segment [Member] | ||
Fair Value | 77 | |
Total Losses | 0 | |
Impaired Loans [Member] | Fair Value, Inputs, Level 1 [Member] | Commercial Portfolio Segment [Member] | ||
Fair Value | 0 | 0 |
Impaired Loans [Member] | Fair Value, Inputs, Level 1 [Member] | Commercial Real Estate Portfolio Segment [Member] | ||
Fair Value | 0 | 0 |
Impaired Loans [Member] | Fair Value, Inputs, Level 1 [Member] | Residential Portfolio Segment [Member] | ||
Fair Value | 0 | |
Impaired Loans [Member] | Fair Value, Inputs, Level 1 [Member] | Consumer Portfolio Segment [Member] | ||
Fair Value | 0 | |
Impaired Loans [Member] | Fair Value, Inputs, Level 2 [Member] | Commercial Portfolio Segment [Member] | ||
Fair Value | 0 | 0 |
Impaired Loans [Member] | Fair Value, Inputs, Level 2 [Member] | Commercial Real Estate Portfolio Segment [Member] | ||
Fair Value | 0 | 0 |
Impaired Loans [Member] | Fair Value, Inputs, Level 2 [Member] | Residential Portfolio Segment [Member] | ||
Fair Value | 0 | |
Impaired Loans [Member] | Fair Value, Inputs, Level 2 [Member] | Consumer Portfolio Segment [Member] | ||
Fair Value | 0 | |
Impaired Loans [Member] | Fair Value, Inputs, Level 3 [Member] | Commercial Portfolio Segment [Member] | ||
Fair Value | 6,026 | 6,437 |
Impaired Loans [Member] | Fair Value, Inputs, Level 3 [Member] | Commercial Real Estate Portfolio Segment [Member] | ||
Fair Value | 4,100 | $ 3,870 |
Impaired Loans [Member] | Fair Value, Inputs, Level 3 [Member] | Residential Portfolio Segment [Member] | ||
Fair Value | 195 | |
Impaired Loans [Member] | Fair Value, Inputs, Level 3 [Member] | Consumer Portfolio Segment [Member] | ||
Fair Value | $ 77 |
Note 9 - Fair Value Measureme_6
Note 9 - Fair Value Measurements - Fair Value Estimates for Financial Instruments, Excluding Financial Instruments Recorded at Fair Value on a Recurring Basis (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
Reported Value Measurement [Member] | ||
Cash and due from banks | $ 418,586 | $ 420,284 |
Debt securities held to maturity | 867,989 | 984,609 |
Loans | 1,141,595 | 1,185,851 |
Deposits | 4,730,262 | 4,866,839 |
Short-term borrowed funds | 54,581 | 51,247 |
Estimate of Fair Value Measurement [Member] | ||
Cash and due from banks | 418,586 | 420,284 |
Debt securities held to maturity | 872,976 | 971,445 |
Loans | 1,184,231 | 1,184,770 |
Deposits | 4,727,480 | 4,862,668 |
Short-term borrowed funds | 54,581 | 51,247 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Cash and due from banks | 418,586 | 420,284 |
Debt securities held to maturity | 0 | 0 |
Loans | 0 | 0 |
Deposits | 0 | 0 |
Short-term borrowed funds | 0 | 0 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Cash and due from banks | 0 | 0 |
Debt securities held to maturity | 872,976 | 971,445 |
Loans | 0 | 0 |
Deposits | 4,548,533 | 4,671,588 |
Short-term borrowed funds | 54,581 | 51,247 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Cash and due from banks | 0 | 0 |
Debt securities held to maturity | 0 | 0 |
Loans | 1,184,231 | 1,184,770 |
Deposits | 178,947 | 191,080 |
Short-term borrowed funds | $ 0 | $ 0 |
Note 10 - Commitments and Con_2
Note 10 - Commitments and Contingent Liabilities (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | |||
Jun. 30, 2019 | Dec. 31, 2018 | Jun. 30, 2018 | Dec. 31, 2017 | |
Unfunded Loan Commitments | $ 276,157 | $ 278,598 | ||
Guarantor Obligations, Current Carrying Value | 550 | 75 | ||
Other Liabilities [Member] | ||||
Reserve for Unfunded Commitments | 2,308 | 2,308 | ||
Financial Standby Letter of Credit [Member] | ||||
Letters of Credit Outstanding, Amount | 2,760 | 2,772 | ||
Commercial Standby Letters of Credit [Member] | ||||
Letters of Credit Outstanding, Amount | 0 | $ 0 | ||
Settlement to Dismiss Lawsuit [Member] | ||||
Litigation Settlement, Expense | 252 | |||
Customer Refunds [Member] | ||||
Loss Contingency Accrual, Ending Balance | $ 5,843 | $ 5,542 | ||
Loss Contingency Accrual, Period Increase (Decrease), Total | $ 301 |
Note 11 - Earnings Per Common_3
Note 11 - Earnings Per Common Share (Details Textual) - shares shares in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 436 | 482 | 449 | 486 |
Note 11 - Earnings Per Common_4
Note 11 - Earnings Per Common Share - Earnings Per Common Share and Diluted Earnings Per Common Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | 6 Months Ended | ||||
Jun. 30, 2019 | Mar. 31, 2019 | Jun. 30, 2018 | Mar. 31, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Net income applicable to common equity (numerator) | $ 19,625 | $ 19,646 | $ 18,010 | $ 17,506 | $ 39,271 | $ 35,516 |
Basic earnings per common share | ||||||
Weighted average number of common shares outstanding - basic (in shares) | 26,942 | 26,630 | 26,892 | 26,581 | ||
Basic earnings per common share (in dollars per share) | $ 0.73 | $ 0.68 | $ 1.46 | $ 1.34 | ||
Diluted earnings per common share | ||||||
Weighted average number of common shares outstanding - basic (in shares) | 26,942 | 26,630 | 26,892 | 26,581 | ||
Add common stock equivalents for options (in shares) | 45 | 98 | 58 | 115 | ||
Weighted average number of common shares outstanding - diluted (denominator) (in shares) | 26,987 | 26,728 | 26,950 | 26,696 | ||
Diluted earnings per common share (in dollars per share) | $ 0.73 | $ 0.67 | $ 1.46 | $ 1.33 |
Note 12 - Income Taxes (Details
Note 12 - Income Taxes (Details Textual) $ in Thousands | 3 Months Ended |
Jun. 30, 2019USD ($) | |
Unrecognized Tax Benefits, Decrease Resulting from Current Period Tax Positions | $ 909 |
Deferred Tax Assets, Gross, Total | 1,003 |
Deferred Tax Assets, Valuation Allowance, Total | $ 269 |