Document and Entity Information
Document and Entity Information - shares | 9 Months Ended | |
Sep. 30, 2018 | Oct. 31, 2018 | |
Document And Entity Information [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Sep. 30, 2018 | |
Document Fiscal Year Focus | 2,018 | |
Document Fiscal Period Focus | Q3 | |
Trading Symbol | CVBF | |
Entity Registrant Name | CVB FINANCIAL CORP | |
Entity Central Index Key | 354,647 | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Large Accelerated Filer | |
Entity Emerging Growth Company | false | |
Entity Small Business | false | |
Entity Common Stock, Shares Outstanding | 140,333,375 |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
Assets | ||
Cash and due from banks | $ 174,083 | $ 119,841 |
Interest-earning balances due from Federal Reserve | 20,392 | 24,536 |
Total cash and cash equivalents | 194,475 | 144,377 |
Interest-earning balances due from depository institutions | 8,812 | 17,952 |
Investment securities available-for-sale, at fair value (with amortized cost of $1,850,723 at September 30, 2018, and $2,078,131 at December 31, 2017) | 1,806,231 | 2,080,985 |
Investment securities held-to-maturity (with fair value of $726,755 at September 30, 2018, and $819,215 at December 31, 2017) | 759,029 | 829,890 |
Total investment securities | 2,565,260 | 2,910,875 |
Investment in stock of Federal Home Loan Bank (FHLB) | 17,688 | 17,688 |
Loans and lease finance receivables | 7,582,459 | 4,830,631 |
Allowance for loan losses | (60,007) | (59,585) |
Net loans and lease finance receivables | 7,522,452 | 4,771,046 |
Premises and equipment, net | 59,256 | 46,166 |
Bank owned life insurance (BOLI) | 219,561 | 146,486 |
Accrued interest receivable | 30,097 | 22,704 |
Intangibles | 56,643 | 6,838 |
Goodwill | 662,888 | 116,564 |
Other real estate owned (OREO) | 420 | 4,527 |
Income taxes | 75,432 | 40,046 |
Other assets | 67,357 | 25,317 |
Total assets | 11,480,341 | 8,270,586 |
Deposits: | ||
Noninterest-bearing | 5,224,154 | 3,846,436 |
Interest-bearing | 3,885,672 | 2,700,417 |
Total deposits | 9,109,826 | 6,546,853 |
Customer repurchase agreements | 399,477 | 553,773 |
Other borrowings | 30,000 | 0 |
Deferred compensation | 19,159 | 18,223 |
Junior subordinated debentures | 25,774 | 25,774 |
Other liabilities | 77,525 | 56,697 |
Total liabilities | 9,661,761 | 7,201,320 |
Commitments and Contingencies | ||
Stockholders' Equity | ||
Common stock, authorized, 225,000,000 shares without par; issued and outstanding 140,334,671 at September 30, 2018, and 110,184,922 at December 31, 2017 | 1,299,052 | 573,453 |
Retained earnings | 552,343 | 494,361 |
Accumulated other comprehensive (loss) income, net of tax | (32,815) | 1,452 |
Total stockholders' equity | 1,818,580 | 1,069,266 |
Total liabilities and stockholders' equity | $ 11,480,341 | $ 8,270,586 |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
Statement of Financial Position [Abstract] | ||
Amortized cost | $ 1,850,723 | $ 2,078,131 |
Fair Value, Held-to-maturity | $ 726,755 | $ 819,215 |
Common stock, par value | ||
Common stock, authorized | 225,000,000 | 225,000,000 |
Common stock, shares issued | 140,334,671 | 110,184,922 |
Common stock, shares outstanding | 140,334,671 | 110,184,922 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Earnings and Comprehensive Income - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Interest income: | ||||
Loans and leases, including fees | $ 79,818 | $ 55,998 | $ 192,382 | $ 158,253 |
Investment securities: | ||||
Investment securities available-for-sale | 11,521 | 12,240 | 35,086 | 37,887 |
Investment securities held-to-maturity | 4,666 | 5,184 | 14,238 | 16,014 |
Total investment income | 16,187 | 17,424 | 49,324 | 53,901 |
Dividends from FHLB stock | 329 | 318 | 959 | 1,070 |
Interest-earning deposits with other institutions and federal funds sold | 304 | 130 | 1,475 | 683 |
Total interest income | 96,638 | 73,870 | 244,140 | 213,907 |
Interest expense: | ||||
Deposits | 2,967 | 1,555 | 6,041 | 4,547 |
Borrowings and customer repurchase agreements | 606 | 402 | 1,396 | 1,213 |
Junior subordinated debentures | 245 | 174 | 674 | 492 |
Total interest expense | 3,818 | 2,131 | 8,111 | 6,252 |
Net interest income before (recapture of) provision for loan losses | 92,820 | 71,739 | 236,029 | 207,655 |
(Recapture of) provision for loan losses | 500 | (1,500) | (1,500) | (7,000) |
Net interest income after (recapture of) provision for loan losses | 92,320 | 73,239 | 237,529 | 214,655 |
Noninterest income: | ||||
BOLI income | 936 | 692 | 2,984 | 2,904 |
Gain on OREO, net | 2 | 3,540 | 4 | |
Other | 1,824 | 1,809 | 4,393 | 4,839 |
Total noninterest income | 10,112 | 10,038 | 32,723 | 29,536 |
Noninterest expense: | ||||
Salaries and employee benefits | 26,319 | 21,835 | 69,684 | 65,116 |
Occupancy and equipment | 5,324 | 4,400 | 13,834 | 12,638 |
Professional services | 1,154 | 1,091 | 4,374 | 4,191 |
Software licenses and maintenance | 2,317 | 1,510 | 5,836 | 4,698 |
Marketing and promotion | 1,134 | 1,055 | 3,638 | 3,484 |
Amortization of intangible assets | 1,736 | 343 | 2,395 | 991 |
Acquisition related expenses | 6,645 | 250 | 7,942 | 2,176 |
Other | 4,251 | 4,222 | 11,377 | 12,402 |
Total noninterest expense | 48,880 | 34,706 | 119,080 | 105,696 |
Earnings before income taxes | 53,552 | 48,571 | 151,172 | 138,495 |
Income taxes | 14,994 | 18,888 | 42,328 | 51,935 |
Net earnings | 38,558 | 29,683 | 108,844 | 86,560 |
Other comprehensive income (loss): | ||||
Unrealized (loss) gain on securities arising during the period, before tax | (10,387) | 1,221 | (49,155) | 3,287 |
Less: Reclassification adjustment for net gain on securities included in net income | 0 | 0 | 0 | (402) |
Other comprehensive (loss) income, before tax | (10,387) | 1,221 | (49,155) | 2,885 |
Less: Income tax benefit (expense) related to items of other comprehensive income | 3,070 | (513) | 14,532 | (1,212) |
Other comprehensive (loss) income, net of tax | (7,317) | 708 | (34,623) | 1,673 |
Comprehensive income | $ 31,241 | $ 30,391 | $ 74,221 | $ 88,233 |
Basic earnings per common share | $ 0.30 | $ 0.27 | $ 0.94 | $ 0.79 |
Diluted earnings per common share | $ 0.30 | $ 0.27 | $ 0.94 | $ 0.79 |
Service Charges on Deposit Accounts [Member] | ||||
Noninterest income: | ||||
Revenue from contract with customer, including assessed tax | $ 4,295 | $ 4,085 | $ 12,431 | $ 11,794 |
Trust and Investment Services [Member] | ||||
Noninterest income: | ||||
Revenue from contract with customer, including assessed tax | 2,182 | 2,523 | 6,738 | 7,432 |
Bankcard Services [Member] | ||||
Noninterest income: | ||||
Revenue from contract with customer, including assessed tax | $ 875 | $ 927 | $ 2,637 | $ 2,563 |
Condensed Consolidated Statem_2
Condensed Consolidated Statements of Stockholders' Equity - USD ($) shares in Thousands, $ in Thousands | Total | Valley Commerce Bancorp [Member] | Community Bank [Member] | Common Stock [Member] | Common Stock [Member]Valley Commerce Bancorp [Member] | Common Stock [Member]Community Bank [Member] | Retained Earnings [Member] | Accumulated Other Comprehensive Income (Loss) [Member] |
Beginning balance at Dec. 31, 2016 | $ 990,862 | $ 531,192 | $ 449,499 | $ 10,171 | ||||
Beginning balance, shares at Dec. 31, 2016 | 108,252 | |||||||
Cumulative adjustment upon adoption of ASU 2016-09 | 50 | $ 116 | (66) | |||||
Repurchase of common stock | (997) | $ (997) | ||||||
Repurchase of common stock, shares | (45) | |||||||
Issuance of common stock for acquisition | $ 37,637 | $ 37,637 | ||||||
Issuance of common stock for acquisition, shares | 1,634 | |||||||
Exercise of stock options | 2,537 | $ 2,537 | ||||||
Exercise of stock options, shares | 270 | |||||||
Shares issued pursuant to stock-based compensation plan | 2,200 | $ 2,200 | ||||||
Shares issued pursuant to stock-based compensation plan, shares | 46 | |||||||
Cash dividends declared on common stock | (44,058) | (44,058) | ||||||
Net earnings | 86,560 | 86,560 | ||||||
Other comprehensive income | 1,673 | 1,673 | ||||||
Ending balance at Sep. 30, 2017 | 1,076,464 | $ 572,685 | 491,935 | 11,844 | ||||
Ending balance, shares at Sep. 30, 2017 | 110,157 | |||||||
Beginning balance at Dec. 31, 2017 | 1,069,266 | $ 573,453 | 494,361 | 1,452 | ||||
Beginning balance, shares at Dec. 31, 2017 | 110,185 | |||||||
Cumulative adjustment upon adoption of ASU 2018-02 | (356) | 356 | ||||||
Repurchase of common stock | (988) | $ (988) | ||||||
Repurchase of common stock, shares | (42) | |||||||
Issuance of common stock for acquisition | $ 722,767 | $ 722,767 | ||||||
Issuance of common stock for acquisition, shares | 29,842 | |||||||
Exercise of stock options | 1,504 | $ 1,504 | ||||||
Exercise of stock options, shares | 145 | |||||||
Shares issued pursuant to stock-based compensation plan | 2,316 | $ 2,316 | ||||||
Shares issued pursuant to stock-based compensation plan, shares | 205 | |||||||
Cash dividends declared on common stock | (50,506) | (50,506) | ||||||
Net earnings | 108,844 | 108,844 | ||||||
Other comprehensive income | (34,623) | (34,623) | ||||||
Ending balance at Sep. 30, 2018 | $ 1,818,580 | $ 1,299,052 | $ 552,343 | $ (32,815) | ||||
Ending balance, shares at Sep. 30, 2018 | 140,335 |
Condensed Consolidated Statem_3
Condensed Consolidated Statements of Stockholders' Equity (Parenthetical) - $ / shares | 9 Months Ended | |
Sep. 30, 2018 | Sep. 30, 2017 | |
Statement of Stockholders' Equity [Abstract] | ||
Cash dividends per common share | $ 0.42 | $ 0.4 |
Condensed Consolidated Statem_4
Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2018 | Sep. 30, 2017 | |
Cash Flows from Operating Activities | ||
Interest and dividends received | $ 245,842 | $ 223,172 |
Service charges and other fees received | 26,107 | 26,769 |
Interest paid | (8,642) | (6,279) |
Net cash paid to vendors, employees and others | (110,799) | (83,610) |
Income taxes | (35,879) | (53,278) |
Payments to FDIC, loss share agreement | (65) | (498) |
Net cash provided by operating activities | 116,564 | 106,276 |
Cash Flows from Investing Activities | ||
Proceeds from redemption of FHLB stock | 17,250 | 1,952 |
Net change in interest-earning balances from depository institutions | 11,934 | 27,806 |
Proceeds from sale of investment securities held-for-sale | 716,996 | 5,403 |
Proceeds from repayment of investment securities available-for-sale | 296,922 | 320,599 |
Proceeds from maturity of investment securities available-for-sale | 20,260 | 20,937 |
Purchases of investment securities available-for-sale | (98,709) | (280,365) |
Proceeds from repayment and maturity of investment securities held-to-maturity | 67,861 | 96,447 |
Purchases of investment securities held-to-maturity | (36,166) | |
Net increase in equity investments | (24,054) | (1,454) |
Net increase in loan and lease finance receivables | (6,806) | (29,713) |
Proceeds from BOLI death benefit | 882 | 2,653 |
Proceeds from sale of asset held-for-sale | 4,012 | |
Purchase of premises and equipment | (3,483) | (3,129) |
Proceeds from sales of other real estate owned | 8,067 | |
Cash acquired from acquisition, net of cash paid | (132,918) | 28,325 |
Net cash provided by investing activities | 874,202 | 157,307 |
Cash Flows from Financing Activities | ||
Net increase in other deposits | (241,934) | (23,896) |
Net decrease in time deposits | (65,079) | (39,485) |
Repayment of FHLB advances | (297,571) | |
Net (decrease) increase in other borrowings | (136,000) | 10,000 |
Net decrease in customer repurchase agreements | (154,296) | (147,959) |
Cash dividends on common stock | (46,304) | (41,626) |
Repurchase of common stock | (988) | (997) |
Proceeds from exercise of stock options | 1,504 | 2,537 |
Net cash used in financing activities | (940,668) | (241,426) |
Net increase in cash and cash equivalents | 50,098 | 22,157 |
Cash and cash equivalents, beginning of period | 144,377 | 121,633 |
Cash and cash equivalents, end of period | 194,475 | 143,790 |
Reconciliation of Net Earnings to Net Cash Provided by Operating Activities | ||
Net earnings | 108,844 | 86,560 |
Adjustments to reconcile net earnings to net cash provided by operating activities: | ||
Gain loss on sale of investment securities | (402) | |
Gain on sale of other real estate owned | (3,540) | (4) |
Increase in BOLI | (3,053) | (4,416) |
Net amortization of premiums and discounts on investment securities | 10,661 | 13,585 |
Accretion of PCI discount | (2,137) | (756) |
Recapture of provision for loan losses | (1,500) | (7,000) |
Payments to FDIC, loss share agreement | (65) | (498) |
Stock-based compensation | 2,316 | 2,200 |
Depreciation and amortization, net | (582) | (433) |
Change in other assets and liabilities | 5,620 | 17,436 |
Total adjustments | 7,720 | 19,716 |
Net cash provided by operating activities | 116,564 | 106,276 |
Supplemental Disclosure of Non-cash Investing Activities | ||
Securities purchased and not settled | 1,625 | |
Transfer of loans to other real estate owned | 420 | |
Issuance of common stock for acquisition | $ 722,767 | $ 37,637 |
Business
Business | 9 Months Ended |
Sep. 30, 2018 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Business | 1. BUSINESS The condensed consolidated financial statements include CVB Financial Corp. (referred to herein on an unconsolidated basis as “CVB” and on a consolidated basis as “we,” “our” or the “Company”) and its wholly owned subsidiary, Citizens Business Bank (the “Bank” or “CBB”), after elimination of all intercompany transactions and balances. The Company has one inactive subsidiary, Chino Valley Bancorp. The Company is also the common stockholder of CVB Statutory Trust III. CVB Statutory Trust III was created in January 2006 to issue trust preferred securities in order to raise capital for the Company. In accordance with Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 810, Consolidation, this trust does not meet the criteria for consolidation. The Company’s primary operations are related to traditional banking activities. This includes the acceptance of deposits and the lending and investing of money through the operations of the Bank. The Bank also provides trust and investment-related services to customers through CitizensTrust. The Bank’s customers consist primarily of small to mid-sized On August 10, 2018, we completed the acquisition of Community Bank (“CB”), headquartered in Pasadena, California with 16 banking centers located throughout the greater Los Angeles and Orange County areas and total assets of approximately $4.09 billion. Our condensed consolidated financial statements for 2018 include CB operations, post-merger. See Note 4 – Business Combinations |
Basis of Presentation
Basis of Presentation | 9 Months Ended |
Sep. 30, 2018 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Basis of Presentation | 2. BASIS OF PRESENTATION The accompanying unaudited condensed consolidated financial statements and notes thereto have been prepared in accordance with the rules and regulations of the Securities and Exchange Commission (“SEC”) for Form 10-Q 10-K Reclassification |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 9 Months Ended |
Sep. 30, 2018 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Summary of Significant Accounting Policies | 3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Except as as discussed below, our accounting policies are described in Note 3 — Summary of Significant Accounting Policies 10-K 10-K”). Business Segments — re-evaluated As of September 30, 2018, we operated as one reportable segment. The factors considered in making this determination include the nature of products and offered services, geographic regions in which we operate, the applicable regulatory environment, and the materiality of discrete financial information reviewed by our key decision makers. Through our network of banking centers, we provide relationship-based banking products, services and solutions for small to mid-sized non-profit Use of Estimates in the Preparation of Financial Statements Adoption of New Accounting Standards No. 2014-09, No. 2015-14, No. 2014-09 Revenue Recognition In January 2016, the FASB issued ASU No. 2016-01, 825-10): available-for-sale 2016-01 Fair Value Information In August 2016, the FASB issued ASU No. 2016-15, zero-coupon In May 2017, the FASB issued ASU No. 2017-09, 2017-09 No. 2017-09 In February 2018, the FASB issued ASU No. 2018-02, 2018-02 2018-02 Recent Accounting Pronouncements No. 2016-02, 2016-02 right-of-use 2018-10, 2018-10 2016-02. In July 2018, the FASB issued ASU No. 2018-11, No. 2016-02, non-lease 2018-11: non-lease 2016-02. The Company established a project to consider the impact of Topic 842. The leasing portfolio consists of real estate leases, which are used for the banking operations of the Company. All leases in the current portfolio have been classified as operating leases, although this may change in the future. Management does not anticipate a material impact to the consolidated statement of earnings. Management estimates the ROU asset and liability to be between $15 million and $20 million. This amount is based on the present value of currently-committed cash flows from leases discounted at the Company’s incremental rate of borrowing on an arms-length basis. This liability includes the non-lease In addition, there are a number of practical expedients that have been elected, which included electing not to adjust comparative financial statements at the effective date of the new accounting standard, with the effect of initially applying ASC 842 recognized as a cumulative-effect adjustment to retained earnings in the period of adoption. In June 2016, the FASB issued ASU No. 2016-13, off-balance held-to-maturity available-for-sale No. 2016-13 In January 2017, the FASB issued ASU No. 2017-04, 2017-04 In August 2017, the FASB issued ASU No. 2017-12, 2017-12 non-financial No. 2017-12 In June 2018, the FASB issued ASU No. 2018-07, 2018-07 2018-07 In August 2018, the FASB issued ASU No. 2018-13, No. 2018-13 |
Business Combinations
Business Combinations | 9 Months Ended |
Sep. 30, 2018 | |
Business Combinations [Abstract] | |
Business Combinations | 4. BUSINESS COMBINATIONS Community Bank Acquisition On August 10, 2018, the Company completed the acquisition of CB, headquartered in Pasadena, California. The Company acquired all of the assets and assumed all of the liabilities of CB for $180.7 million in cash and $722.8 million in stock. As a result, CB was merged with the Bank, the principal subsidiary of CVB. The primary reason for the acquisition was to further strengthen the Company’s presence in Southern California. At close, CB had 16 banking centers located throughout the greater Los Angeles and Orange County areas. The assets acquired and liabilities assumed have been accounted for under the acquisition method of accounting. The assets and liabilities, both tangible and intangible, were recorded at their estimated fair values as of August 10, 2018. As the final CB tax return has not yet been completed, initial accounting for taxes was incomplete as of September 30, 2018. These fair values are estimates and are subject to adjustment for up to one year after the acquisition date or when additional information relative to the closing date fair values becomes available and such information is considered final, whichever is earlier. The application of the acquisition method of accounting resulted in the recognition of goodwill of $546.3 million and a core deposit intangible (“CDI”) of $52.2 million, or 2.26% of core deposits. Goodwill represents the excess purchase price over the fair value of the net assets acquired. Goodwill is not deductible for income tax purposes. The table below summarizes the amounts recognized for the estimated fair value of assets acquired and the liabilities assumed as of the acquisition date. August 10, 2018 (Dollars in thousands) Merger Consideration Cash paid $ 180,719 CVBF common stock issued 722,767 Total merger consideration $ 903,486 Identifiable net assets acquired, at fair value Assets Acquired Cash and cash equivalents 47,802 Investment securities 716,996 FHLB stock 17,250 Loans 2,734,081 Accrued interest receivable 7,916 Premises and equipment 14,632 BOLI 70,904 Core deposit intangible 52,200 Other assets 58,130 Total assets acquired 3,719,911 Liabilities assumed Deposits 2,869,986 FHLB advances 297,571 Other borrowings 166,000 Other liabilities 29,192 Total liabilities assumed 3,362,749 Total fair value of identifiable net assets, at fair value 357,162 Goodwill $ 546,324 We have included the financial results of the business combination in the condensed consolidated statement of earnings and comprehensive income beginning on the acquisition date. For the three and nine months ended September 30, 2018, the Company incurred $6.6 million and $7.9 million, respectively, in merger related expenses associated with the CB acquisition. For illustrative purposes only, the following table presents certain unaudited pro forma information for the nine months ended September 30, 2018 and 2017. This unaudited estimated pro forma financial information was calculated as if CB had been acquired as of the beginning of the year prior to the date of acquisition. This unaudited pro forma information combines the historical results of CB with the Company’s consolidated historical results and includes certain adjustments reflecting the estimated impact of certain fair value adjustments for the respective periods. The pro forma information is not indicative of what would have occurred had the acquisition occurred as of the beginning of the year prior to the acquisition. The unaudited pro forma information does not consider any changes to the provision for credit losses resulting from recording loan assets at fair value, cost savings, or business synergies. As a result, actual amounts would have differed from the unaudited pro forma information presented. Unaudited Pro Forma Nine Months Ended September 30, 2018 2017 (Dollars in thousands) Total revenues (net interest income plus noninterest income) $ 364,846 $ 354,990 Net Income $ 138,274 $ 118,419 Earnings per share - basic $ 0.99 $ 0.85 Earnings per share - diluted $ 0.99 $ 0.85 Valley Commerce Bancorp Acquisition On March 10, 2017, the Company completed the acquisition of Valley Commerce Bancorp (“VCBP”), the holding company for Valley Business Bank (“VBB”), headquartered in the Central Valley area of California. The Company acquired all of the assets and assumed all of the liabilities of VCBP for $23.2 million in cash and $37.6 million in stock. As a result, VBB was merged with the Bank, the principal subsidiary of CVB. The Company believes this transaction serves to further strengthen its presence in the Central Valley area of California. At close, VBB had four branches located in Visalia, Tulare, Fresno, and Woodlake. The systems integration of VCBP and CBB was completed in May 2017. Three of these center locations were consolidated with nearby CBB locations in the third quarter of 2017 and the Company sold the Woodlake branch in the fourth quarter of 2017. Goodwill of $27.0 million from the acquisition represents the excess of the purchase price over the fair value of the net tangible and intangible assets acquired. The total fair value of assets acquired approximated $405.9 million, which included $28.3 million in cash and cash equivalents net of cash paid, $2.0 million in FHLB stock, $309.7 million in loans and lease finance receivables, $5.3 million in fixed assets, $9.4 million in BOLI, $3.2 million in core deposit intangible assets acquired and $21.0 million in other assets. The total fair value of liabilities assumed was $368.3 million, which included $361.8 million in deposits, and $6.5 million in other liabilities. The assets and liabilities, both tangible and intangible, were recorded at their estimated fair values as of March 10, 2017. The assets acquired and liabilities assumed have been accounted for under the acquisition method of accounting. The purchase price allocation was finalized in the third quarter of 2017. We have included the financial results of the business combination in the condensed consolidated statement of earnings and comprehensive income beginning on the acquisition date. For the nine months ended September 30, 2018, the Company did not incur any merger related expenses associated with the VCBP acquisition and incurred $250,000 and $2.2 million for the three and nine months ended September 30, 2017, respectively. |
Investment Securities
Investment Securities | 9 Months Ended |
Sep. 30, 2018 | |
Investments, Debt and Equity Securities [Abstract] | |
Investment Securities | 5. INVESTMENT SECURITIES The amortized cost and estimated fair value of investment securities are summarized below. The majority of securities held are available-for-sale September 30, 2018 Amortized Gross Gross Fair Value Total Percent (Dollars in thousands) Investment securities available-for-sale: Residential mortgage-backed securities $ 1,570,072 $ 1,014 $ (38,208 ) $ 1,532,878 84.87 % CMO/REMIC - residential 229,832 152 (6,167 ) 223,817 12.39 % Municipal bonds 50,022 308 (1,591 ) 48,739 2.70 % Other securities 797 - - 797 0.04 % Total available-for-sale $ 1,850,723 $ 1,474 $ (45,966 ) $ 1,806,231 100.00 % Investment securities held-to-maturity: Government agency/GSE $ 144,871 $ - $ (5,129 ) $ 139,742 19.09 % Residential mortgage-backed securities 158,769 - (5,502 ) 153,267 20.92 % CMO 216,980 - (13,960 ) 203,020 28.58 % Municipal bonds 238,409 225 (7,908 ) 230,726 31.41 % Total held-to-maturity $ 759,029 $ 225 $ (32,499) $ 726,755 100.00 % December 31, 2017 Amortized Gross Gross Fair Value Total (Dollars in thousands) Investment securities available-for-sale: Residential mortgage-backed securities $ 1,747,780 $ 11,231 $ (8,102 ) $ 1,750,909 84.14 % CMO/REMIC-residential 274,634 1,277 (2,082 ) 273,829 13.16 % Municipal bonds 54,966 774 (244 ) 55,496 2.66 % Other securities 751 - - 751 0.04 % Total available-for-sale $ 2,078,131 $ 13,282 $ (10,428 ) $ 2,080,985 100.00 % Investment securities held-to-maturity: Government agency/GSE $ 159,716 $ 854 $ (2,134 ) $ 158,436 19.25 % Residential mortgage-backed securities 176,427 667 (382 ) 176,712 21.26 % CMO 225,072 - (8,641 ) 216,431 27.12 % Municipal bonds 268,675 2,751 (3,790 ) 267,636 32.37 % Total held-to-maturity $ 829,890 $ 4,272 $ (14,947) $ 819,215 100.00 % 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 Ended For the Nine Months Ended 2018 2017 2018 2017 (Dollars in thousands) Investment securities available-for-sale: Taxable $ 11,126 $ 11,767 $ 33,861 $ 36,113 Tax-advantaged 395 473 1,225 1,774 Total interest income from available-for-sale 11,521 12,240 35,086 37,887 Investment securities held-to-maturity: Taxable 2,961 3,111 8,887 9,591 Tax-advantaged 1,705 2,073 5,351 6,423 Total interest income from held-to-maturity 4,666 5,184 14,238 16,014 Total interest income from investment securities $ 16,187 $ 17,424 $ 49,324 $ 53,901 Approximately 89% of the total investment securities portfolio at September 30, 2018 represents securities issued by the U.S. government or U.S. government-sponsored enterprises, with the implied guarantee of payment of principal and interest. The tables below show the Company’s investment securities’ gross unrealized losses and fair value by investment category and length of time that individual securities have been in a continuous unrealized loss position at September 30, 2018 and December 31, 2017. Management has reviewed individual securities to determine whether a decline in fair value below the amortized cost basis is other-than-temporary. The unrealized losses on these securities were primarily attributed to changes in interest rates. The issuers of these securities have not, to our knowledge, evidenced any cause for default on these securities. These securities have fluctuated in value since their purchase dates as market rates have fluctuated. However, we have the ability to hold and do not have the intent to sell these securities. As such, management does not deem these securities to be Other-Than-Temporarily-Impaired (“OTTI”). September 30, 2018 Less Than 12 Months 12 Months or Longer Total Fair Value Gross Fair Value Gross Fair Value Gross (Dollars in thousands) Investment securities available-for-sale: Residential mortgage-backed securities $ 1,193,435 $ (24,475 ) $ 287,707 $ (13,733 ) $ 1,481,142 $ (38,208 ) CMO/REMIC - residential 139,064 (3,053 ) 60,925 (3,114 ) 199,989 (6,167 ) Municipal bonds 11,257 (389 ) 12,987 (1,202 ) 24,244 (1,591 ) Total available-for-sale $ 1,343,756 $ (27,917 ) $ 361,619 $ (18,049 ) $ 1,705,375 $ (45,966 ) Investment securities held-to-maturity: Government agency/GSE $ 99,203 $ (2,326 ) $ 40,539 $ (2,803 ) $ 139,742 $ (5,129 ) Residential mortgage-backed securities 101,083 (3,206 ) 52,184 (2,296 ) 153,267 (5,502 ) CMO - - 203,020 (13,960 ) 203,020 (13,960 ) Municipal bonds 116,918 (2,143 ) 67,284 (5,765 ) 184,202 (7,908 ) Total held-to-maturity $ 317,204 $ (7,675 ) $ 363,027 $ (24,824 ) $ 680,231 $ (32,499 ) December 31, 2017 Less Than 12 Months 12 Months or Longer Total Fair Value Gross Fair Value Gross Fair Value Gross (Dollars in thousands) Investment securities available-for-sale: Residential mortgage-backed securities $ 414,091 $ (1,828 ) $ 303,746 $ (6,274 ) $ 717,837 $ (8,102 ) CMO/REMIC - residential 95,137 (487 ) 71,223 (1,595 ) 166,360 (2,082 ) Municipal bonds 946 (4 ) 13,956 (240 ) 14,902 (244 ) Total available-for-sale $ 510,174 $ (2,319 ) $ 388,925 $ (8,109 ) $ 899,099 $ (10,428 ) Investment securities held-to-maturity: Government agency/GSE $ 18,950 $ (27 ) $ 43,495 $ (2,107 ) $ 62,445 $ (2,134 ) Residential mortgage-backed securities 51,297 (188 ) 55,306 (194 ) 106,603 (382 ) CMO - - 216,431 (8,641 ) 216,431 (8,641 ) Municipal bonds 32,069 (492 ) 66,217 (3,298 ) 98,286 (3,790 ) Total held-to-maturity $ 102,316 $ (707 ) $ 381,449 $ (14,240 ) $ 483,765 $ (14,947 ) At September 30, 2018 and December 31, 2017, investment securities having a carrying value of approximately $1.60 billion and $1.91 billion, respectively, were pledged to secure public deposits, short and long-term borrowings, and for other purposes as required or permitted by law. The amortized cost and fair value of debt securities at September 30, 2018, by contractual maturity, are shown in the table below. Although mortgage-backed and CMO/REMIC securities have contractual maturities through 2057, expected maturities will differ from contractual maturities because borrowers may have the right to prepay such obligations without penalty. Mortgage-backed and CMO/REMIC securities are included in maturity categories based upon estimated average lives which incorporate estimated prepayment speeds. September 30, 2018 Available-for-sale Held-to-maturity Amortized Fair Value Amortized Fair Value (Dollars in thousands) Due in one year or less $ 19,806 $ 19,964 $ - $ - Due after one year through five years 1,676,348 1,637,053 315,036 298,729 Due after five years through ten years 113,539 109,910 172,281 167,824 Due after ten years 41,030 39,304 271,712 260,202 Total investment securities $ 1,850,723 $ 1,806,231 $ 759,029 $ 726,755 The investment in FHLB stock is periodically evaluated for impairment based on, among other things, the capital adequacy of the FHLB and its overall financial condition. No impairment losses have been recorded through September 30, 2018. |
Acquired SJB Assets and FDIC Lo
Acquired SJB Assets and FDIC Loss Sharing Asset | 9 Months Ended |
Sep. 30, 2018 | |
Text Block [Abstract] | |
Acquired SJB Assets and FDIC Loss Sharing Asset | 6. ACQUIRED SJB ASSETS AND FDIC LOSS SHARING ASSET FDIC Assisted Acquisition On October 16, 2009, the Bank acquired San Joaquin Bank (“SJB”) and entered into loss sharing agreements with the Federal Deposit Insurance Corporation (“FDIC”) that is more fully discussed in Note 3 – Summary of Significant Accounting Policies 10-K At September 30, 2018, the remaining discount associated with the PCI loans was zero. The loss sharing agreement for commercial loans expired October 16, 2014. The loss sharing agreement with the FDIC for single-family residential loans, which would have expired on October 16, 2019, was terminated by the Bank on July 20, 2018. The following table provides a summary of PCI loans and lease finance receivables by type and by internal risk ratings (credit quality indicators) for the periods indicated. September 30, 2018 December 31, 2017 (Dollars in thousands) Commercial and industrial $ 459 $ 934 SBA 1,286 1,383 Real estate: Commercial real estate 14,979 27,431 Construction - - SFR mortgage 150 162 Dairy & livestock and agribusiness 200 770 Municipal lease finance receivables - - Consumer and other loans 186 228 Gross PCI loans 17,260 30,908 Less: Purchase accounting discount - (2,026 ) Gross PCI loans, net of discount 17,260 28,882 Less: Allowance for PCI loan losses (205 ) (367 ) Net PCI loans $ 17,055 $ 28,515 Credit Quality Indicators The following table summarizes gross PCI loans by internal risk ratings for the periods indicated. September 30, 2018 December 31, 2017 (Dollars in thousands) Pass $ 15,775 $ 26,439 Special mention 1,251 1,088 Substandard 234 3,381 Doubtful & loss - - Total gross PCI loans $ 17,260 $ 30,908 |
Loans and Lease Finance Receiva
Loans and Lease Finance Receivables and Allowance for Loan Losses | 9 Months Ended |
Sep. 30, 2018 | |
Receivables [Abstract] | |
Loans and Lease Finance Receivables and Allowance for Loan Losses | 7. LOANS AND LEASE FINANCE RECEIVABLES AND ALLOWANCE FOR LOAN LOSSES The following table provides a summary of the Company’s total loans and lease finance receivables, excluding PCI loans, by type. September 30, 2018 December 31, 2017 (Dollars in thousands) Commercial and industrial $ 1,021,906 $ 513,325 SBA 357,052 122,055 Real estate: Commercial real estate 5,268,740 3,376,713 Construction 123,274 77,982 SFR mortgage 292,516 236,202 Dairy & livestock and agribusiness 304,598 347,289 Municipal lease finance receivables 67,581 70,243 Consumer and other loans 134,796 64,229 Gross loans, excluding PCI loans 7,570,463 4,808,038 Less: Deferred loan fees, net (5,264 ) (6,289 ) Gross loans, excluding PCI loans, net of deferred loan fees 7,565,199 4,801,749 Less: Allowance for loan losses (59,802 ) (59,218 ) Net loans, excluding PCI loans 7,505,397 4,742,531 PCI Loans 17,260 30,908 Discount on PCI loans - (2,026 ) Less: Allowance for loan losses (205 ) (367 ) PCI loans, net 17,055 28,515 Total loans and lease finance receivables $ 7,522,452 $ 4,771,046 As of September 30, 2018, 75.09% of the Company’s total gross loan portfolio (excluding PCI loans) consisted of real estate loans, 69.60% of which consisted of commercial real estate loans. Substantially all of the Company’s real estate loans and construction loans are secured by real properties located in California. As of September 30, 2018, $219.6 million, or 4.17% of the total commercial real estate loans included loans secured by farmland, compared to $206.1 million, or 6.10%, at December 31, 2017. The loans secured by farmland included $128.8 million for loans secured by dairy & livestock land and $90.8 million for loans secured by agricultural land at September 30, 2018, compared to $118.2 million for loans secured by dairy & livestock land and $87.9 million for loans secured by agricultural land at December 31, 2017. As of September 30, 2018, dairy & livestock and agribusiness loans of $304.6 million were comprised of $251.4 million for dairy & livestock loans and $53.2 million for agribusiness loans, compared to $310.6 million for dairy & livestock loans and $36.7 million for agribusiness loans at December 31, 2017. At September 30, 2018, the Company held approximately $3.70 billion of total fixed rate loans, including PCI loans. At September 30, 2018 and December 31, 2017, loans totaling $5.53 billion and $3.68 billion, respectively, were pledged to secure the borrowings and available lines of credit from the FHLB and the Federal Reserve Bank. There were no outstanding loans held-for-sale Credit Quality Indicators An important element of our approach to credit risk management is our loan risk rating system. The originating officer assigns each loan an initial risk rating, which is reviewed and confirmed or changed, as appropriate, by credit management. Approvals are made based upon the amount of inherent credit risk specific to the transaction and are reviewed for appropriateness by senior line and credit management personnel. Credits are monitored by line and credit management personnel for deterioration or improvement in a borrower’s financial condition, which would impact the ability of the borrower to perform under the contract. Risk ratings are adjusted as necessary. Loans are risk rated into the following categories (Credit Quality Indicators): Pass, Special Mention, Substandard, Doubtful and Loss. Each of these groups is assessed for the proper amount to be used in determining the adequacy of our allowance for losses. These categories can be described as follows: Pass — These loans, including loans on the Bank’s internal watch list, range from minimal credit risk to lower than average, but still acceptable, credit risk. Watch list loans usually require more than normal management attention. Loans on the watch list may involve borrowers with adverse financial trends, higher debt/equity ratios, or weaker liquidity positions, but not to the degree of being considered a defined weakness or problem loan where risk of loss may be apparent. Special Mention — Loans assigned to this category have potential weaknesses that deserve management’s close attention. If left uncorrected, these potential weaknesses may result in the deterioration of the repayment prospects for the asset or the Company’s credit position at some future date. Special mention assets are not adversely classified and do not expose the Company to sufficient risk to warrant adverse classification. Substandard — Loans classified as substandard are inadequately protected by the current sound worth and paying capacity of the obligor or of the collateral pledged, if any. Assets so classified must have a well-defined weakness, or weaknesses, that jeopardize the liquidation of the debt. Substandard loans are characterized by the distinct possibility that the Company will sustain some loss if deficiencies are not corrected. Doubtful — Loans classified as doubtful have all the weaknesses inherent in those classified substandard with the added characteristic that the weaknesses make collection or the liquidation in full, on the basis of currently existing facts, conditions and values, highly questionable and improbable. Loss — Loans classified as loss are considered uncollectible and of such little value that their continuance as bankable assets is not warranted. This classification does not mean that the loan has absolutely no recovery or salvage value, but rather that it is not practical or desirable to defer writing off this asset with insignificant value even though partial recovery may be affected in the future. The following table summarizes loans by type, excluding PCI loans, according to our internal risk ratings for the periods presented. September 30, 2018 Pass Special Substandard (1) Doubtful & Total (Dollars in thousands) Commercial and industrial $ 980,421 $ 33,628 $ 7,857 $ - $ 1,021,906 SBA 345,126 5,469 6,457 - 357,052 Real estate: Commercial real estate Owner occupied 1,931,062 97,990 12,079 - 2,041,131 Non-owner 3,215,070 5,582 6,957 - 3,227,609 Construction Speculative 32,081 - - - 32,081 Non-speculative 91,193 - - - 91,193 SFR mortgage 284,852 4,047 3,617 - 292,516 Dairy & livestock and agribusiness 268,328 26,877 9,393 - 304,598 Municipal lease finance receivables 67,045 536 - - 67,581 Consumer and other loans 132,637 740 1,419 - 134,796 Total gross loans, excluding PCI loans $ 7,347,815 $ 174,869 $ 47,779 $ - $ 7,570,463 (1) Includes $15.1 million of classified loans acquired from CB in the third quarter of 2018. December 31, 2017 Pass Special Substandard Doubtful & Total (Dollars in thousands) Commercial and industrial $ 483,641 $ 19,566 $ 10,118 $ - $ 513,325 SBA 112,835 5,358 3,862 - 122,055 Real estate: Commercial real estate Owner occupied 1,009,199 76,111 10,970 - 1,096,280 Non-owner 2,257,130 16,434 6,869 - 2,280,433 Construction Speculative 60,042 - - - 60,042 Non-speculative 17,940 - - - 17,940 SFR mortgage 229,032 3,124 4,046 - 236,202 Dairy & livestock and agribusiness 321,413 9,047 16,829 - 347,289 Municipal lease finance receivables 69,644 599 - - 70,243 Consumer and other loans 61,715 1,255 1,259 - 64,229 Total gross loans, excluding PCI loans $ 4,622,591 $ 131,494 $ 53,953 $ - $ 4,808,038 Allowance for Loan Losses (“ALLL”) The Bank’s Audit and Director Loan Committees provide Board oversight of the ALLL process and approves the ALLL on a quarterly basis. Our methodology for assessing the appropriateness of the allowance is conducted on a regular basis and considers the Bank’s overall loan portfolio. Refer to Note 3 – Summary of Significant Accounting Policies 10-K Management believes that the ALLL was appropriate at September 30, 2018 and December 31, 2017. No assurance can be given that economic conditions which adversely affect the Company’s service areas or other circumstances will not be reflected in increased provisions for loan losses in the future. The following tables present the balance and activity related to the allowance for loan losses for held-for-investment For the Three Months Ended September 30, 2018 Ending Balance Charge-offs Recoveries (Recapture of) Ending Balance (Dollars in thousands) Commercial and industrial $ 6,970 $ - $ 44 $ 477 $ 7,491 SBA 841 (257 ) 5 369 958 Real estate: Commercial real estate 42,597 - - (1,056 ) 41,541 Construction 1,003 - 15 115 1,133 SFR mortgage 2,155 - - (30 ) 2,125 Dairy & livestock and agribusiness 4,351 - - 673 5,024 Municipal lease finance receivables 808 - - 7 815 Consumer and other loans 642 (1 ) 118 (44 ) 715 PCI loans 216 - - (11 ) 205 Total allowance for loan losses $ 59,583 $ (258 ) $ 182 $ 500 $ 60,007 For the Three Months Ended September 30, 2017 Ending Balance Charge-offs Recoveries (Recapture of) Ending Balance (Dollars in thousands) Commercial and industrial $ 8,060 $ (138 ) $ 12 $ 129 $ 8,063 SBA 913 - 5 (54 ) 864 Real estate: Commercial real estate 39,927 - - 943 40,870 Construction 1,059 - 2,055 (2,181 ) 933 SFR mortgage 2,369 - - (49 ) 2,320 Dairy & livestock and agribusiness 5,440 - - (66 ) 5,374 Municipal lease finance receivables 852 - - 54 906 Consumer and other loans 922 (9 ) 5 (48 ) 870 PCI loans 659 - - (228 ) 431 Total allowance for loan losses $ 60,201 $ (147 ) $ 2,077 $ (1,500 ) $ 60,631 For the Nine Months Ended September 30, 2018 Ending Balance Charge-offs Recoveries (Recapture of) Ending Balance (Dollars in thousands) Commercial and industrial $ 7,280 $ - $ 81 $ 130 $ 7,491 SBA 869 (257 ) 15 331 958 Real estate: Commercial real estate 41,722 - - (181 ) 41,541 Construction 984 - 1,945 (1,796 ) 1,133 SFR mortgage 2,112 - - 13 2,125 Dairy & livestock and agribusiness 4,647 - 19 358 5,024 Municipal lease finance receivables 851 - - (36 ) 815 Consumer and other loans 753 (10 ) 129 (157 ) 715 PCI loans 367 - - (162 ) 205 Total allowance for loan losses $ 59,585 $ (267 ) $ 2,189 $ (1,500 ) $ 60,007 For the Nine Months Ended September 30, 2017 Ending Balance Charge-offs Recoveries (Recapture of) Ending Balance (Dollars in thousands) Commercial and industrial $ 8,154 $ (138 ) $ 106 $ (59 ) $ 8,063 SBA 871 - 47 (54 ) 864 Real estate: Commercial real estate 37,443 - 154 3,273 40,870 Construction 1,096 - 5,774 (5,937 ) 933 SFR mortgage 2,287 - 64 (31 ) 2,320 Dairy & livestock and agribusiness 8,541 - 19 (3,186 ) 5,374 Municipal lease finance receivables 941 - - (35 ) 906 Consumer and other loans 988 (11 ) 76 (183 ) 870 PCI loans 1,219 - - (788 ) 431 Total allowance for loan losses $ 61,540 $ (149 ) $ 6,240 $ (7,000 ) $ 60,631 The following tables present the recorded investment in loans held-for-investment September 30, 2018 Recorded Investment in Loans Allowance for Loan Losses Individually Collectively Acquired with Individually Collectively Acquired with (Dollars in thousands) Commercial and industrial $ 3,168 $ 1,018,738 $ - $ - $ 7,491 $ - SBA 3,593 353,459 - - 958 - Real estate: Commercial real estate 6,348 5,262,392 - - 41,541 - Construction - 123,274 - - 1,133 - SFR mortgage 5,492 287,024 - 13 2,112 - Dairy & livestock and agribusiness 775 303,823 - - 5,024 - Municipal lease finance receivables - 67,581 - - 815 - Consumer and other loans 807 133,989 - 70 645 - PCI loans - - 17,260 - - 205 Total $ 20,183 $ 7,550,280 $ 17,260 $ 83 $ 59,719 $ 205 September 30, 2017 Recorded Investment in Loans Allowance for Loan Losses Individually Collectively Acquired with Individually Collectively Acquired with (Dollars in thousands) Commercial and industrial $ 745 $ 527,914 $ - $ 2 $ 8,061 $ - SBA 2,273 121,818 - 3 861 - Real estate: Commercial real estate 8,168 3,324,349 - - 40,870 - Construction - 74,148 - - 933 - SFR mortgage 4,550 240,112 - - 2,320 - Dairy & livestock and agribusiness 829 269,653 - - 5,374 - Municipal lease finance receivables - 71,352 - - 906 - Consumer and other loans 743 69,672 - 83 787 - PCI loans - - 36,548 - - 431 Total $ 17,308 $ 4,699,018 $ 36,548 $ 88 $ 60,112 $ 431 Past Due and Nonperforming Loans We seek to manage asset quality and control credit risk through diversification of the loan portfolio and the application of policies designed to promote sound underwriting and loan monitoring practices. The Bank’s Credit Management Division is in charge of monitoring asset quality, establishing credit policies and procedures and enforcing the consistent application of these policies and procedures across the Bank. Reviews of nonperforming, past due loans and larger credits, designed to identify potential charges to the allowance for loan losses, and to determine the adequacy of the allowance, are conducted on an ongoing basis. These reviews consider such factors as the financial strength of borrowers and any guarantors, the value of the applicable collateral, loan loss experience, estimated loan losses, growth in the loan portfolio, prevailing economic conditions and other factors. Refer to Note 3 – Summary of Significant Accounting Policies 10-K A loan is reported as a Troubled Debt Restructuring (“TDR”) when the Bank grants a concession(s) to a borrower experiencing financial difficulties that the Bank would not otherwise consider. Examples of such concessions include a reduction in the interest rate, deferral of principal or accrued interest, extending the payment due dates or loan maturity date(s), or providing a lower interest rate than would be normally available for new debt of similar risk. As a result of one or more of these concessions, restructured loans are classified as impaired. Impairment reserves on non-collateral Generally, when loans are identified as impaired they are moved to our Special Assets Department. When we identify a loan as impaired, we measure the loan for potential impairment using discounted cash flows, unless the loan is determined to be collateral dependent. In these cases, we use the current fair value of collateral, less selling costs. Generally, the determination of fair value is established through obtaining external appraisals of the collateral. The following tables present the recorded investment in, and the aging of, past due and nonaccrual loans, excluding PCI loans, by type of loans for the periods presented. September 30, 2018 30-59 Days 60-89 Days Total Past Due Nonaccrual (1) (3) Current Total Loans (Dollars in thousands) Commercial and industrial $ 274 $ - $ 274 $ 3,026 $ 1,018,606 $ 1,021,906 SBA - 123 123 3,005 353,924 357,052 Real estate: Commercial real estate Owner occupied - - - 615 2,040,516 2,041,131 Non-owner - - - 5,241 3,222,368 3,227,609 Construction Speculative (2) - - - - 32,081 32,081 Non-speculative - - - - 91,193 91,193 SFR mortgage - - - 2,961 289,555 292,516 Dairy & livestock and agribusiness - - - 775 303,823 304,598 Municipal lease finance receivables - - - - 67,581 67,581 Consumer and other loans 98 - 98 807 133,891 134,796 Total gross loans, excluding PCI loans $ 372 $ 123 $ 495 $ 16,430 $ 7,553,538 $ 7,570,463 (1) As of September 30, 2018, $2.6 million of nonaccruing loans were current, $562,000 were 30-59 60-89 (2) Speculative construction loans are generally for properties where there is no identified buyer or renter. (3) Includes $8.6 million of nonaccrual loans acquired from CB in the third quarter of 2018. December 31, 2017 30-59 Days 60-89 Days Total Past Due Nonaccrual (1) Current Total Loans (Dollars in thousands) Commercial and industrial $ 768 $ - $ 768 $ 250 $ 512,307 $ 513,325 SBA 403 - 403 906 120,746 122,055 Real estate: Commercial real estate Owner occupied - - - 4,365 1,091,915 1,096,280 Non-owner - - - 2,477 2,277,956 2,280,433 Construction Speculative (2) - - - - 60,042 60,042 Non-speculative - - - - 17,940 17,940 SFR mortgage - - - 1,337 234,865 236,202 Dairy & livestock and agribusiness - - - 829 346,460 347,289 Municipal lease finance receivables - - - - 70,243 70,243 Consumer and other loans 1 - 1 552 63,676 64,229 Total gross loans, excluding PCI loans $ 1,172 $ - $ 1,172 $ 10,716 $ 4,796,150 $ 4,808,038 (1) As of December 31, 2017, $3.6 million of nonaccruing loans were current, $376,000 were 60-89 (2) Speculative construction loans are generally for properties where there is no identified buyer or renter. Impaired Loans At September 30, 2018, the Company had impaired loans, excluding PCI loans, of $20.2 million. Impaired loans included $5.9 million of nonaccrual commercial real estate loans, $3.0 million of nonaccrual commercial and industrial loans, $3.0 million of nonaccrual Small Business Administration (“SBA”) loans, $3.0 million of nonaccrual single-family residential (“SFR”) mortgage loans, $807,000 of nonaccrual consumer and other loans, and $775,000 of nonaccrual dairy & livestock and agribusiness loans. These impaired loans included $7.3 million of loans whose terms were modified in a troubled debt restructuring, of which $3.5 million were classified as nonaccrual. The remaining balance of $3.8 million consisted of 14 loans performing according to the restructured terms. The impaired loans had a specific allowance of $83,000 at September 30, 2018. At December 31, 2017, the Company had classified as impaired, loans, excluding PCI loans, with a balance of $15.5 million with a related allowance of $75,000. The following tables present information for held-for-investment As of and For the Nine Months Ended September 30, 2018 Recorded Unpaid Related Average Interest (Dollars in thousands) With no related allowance recorded: Commercial and industrial $ 3,168 $ 3,829 $ - $ 3,439 $ 6 SBA 3,593 5,779 - 4,457 34 Real estate: Commercial real estate Owner occupied 615 726 - 644 - Non-owner 5,733 6,385 - 5,904 24 Construction Speculative - - - - - Non-speculative - - - - - SFR mortgage 5,479 6,449 - 5,679 59 Dairy & livestock and agribusiness 775 1,091 - 808 - Municipal lease finance receivables - - - - - Consumer and other loans 737 1,025 - 867 - Total 20,100 25,284 - 21,798 123 With a related allowance recorded: Commercial and industrial - - - - - SBA - - - - - Real estate: Commercial real estate Owner occupied - - - - - Non-owner - - - - - Construction Speculative - - - - - Non-speculative - - - - - SFR mortgage 13 13 13 13 - Dairy & livestock and agribusiness - - - - - Municipal lease finance receivables - - - - - Consumer and other loans 70 101 70 85 - Total 83 114 83 98 - Total impaired loans $ 20,183 $ 25,398 $ 83 $ 21,896 $ 123 As of and For the Nine Months Ended September 30, 2017 Recorded Unpaid Related Average Interest (Dollars in thousands) With no related allowance recorded: Commercial and industrial $ 726 $ 1,256 $ - $ 870 $ 15 SBA 2,270 2,573 - 2,489 38 Real estate: Commercial real estate Owner occupied 4,313 4,625 - 4,361 42 Non-owner 3,855 5,155 - 4,010 72 Construction Speculative - - - - - Non-speculative - - - - - SFR mortgage 4,550 5,345 - 4,620 109 Dairy & livestock and agribusiness 829 1,091 - 1,035 1 Municipal lease finance receivables - - - - - Consumer and other loans 356 571 - 381 - Total 16,899 20,616 - 17,766 277 With a related allowance recorded: Commercial and industrial 19 20 2 42 1 SBA 3 20 3 7 - Real estate: Commercial real estate Owner occupied - - - - - Non-owner - - - - - Construction Speculative - - - - - Non-speculative - - - - - SFR mortgage - - - - - Dairy & livestock and agribusiness - - - - - Municipal lease finance receivables - - - - - Consumer and other loans 387 394 83 390 - Total 409 434 88 439 1 Total impaired loans $ 17,308 $ 21,050 $ 88 $ 18,205 $ 278 As of December 31, 2017 Recorded Unpaid Related (Dollars in thousands) With no related allowance recorded: Commercial and industrial $ 440 $ 980 $ - SBA 1,530 1,699 - Real estate: Commercial real estate Owner occupied 4,365 4,763 - Non-owner 3,768 5,107 - Construction Speculative - - - Non-speculative - - - SFR mortgage 4,040 4,692 - Dairy & livestock and agribusiness 829 1,091 - Municipal lease finance receivables - - - Consumer and other loans 174 370 - Total 15,146 18,702 - With a related allowance recorded: Commercial and industrial - - - SBA 1 18 1 Real estate: Commercial real estate Owner occupied - - - Non-owner - - - Construction Speculative - - - Non-speculative - - - SFR mortgage - - - Dairy & livestock and agribusiness - - - Municipal lease finance receivables - - - Consumer and other loans 378 391 74 Total 379 409 75 Total impaired loans $ 15,525 $ 19,111 $ 75 The Company recognizes the charge-off charge-off non-collateral Reserve for Unfunded Loan Commitments The allowance for off-balance off-balance Troubled Debt Restructurings (“TDRs”) Loans that are reported as TDRs are considered impaired and charge-off Summary of Significant Accounting Policies 10-K As of September 30, 2018, there were $7.3 million of loans classified as a TDR, of which $3.5 million were nonperforming and $3.8 million were performing. TDRs on accrual status are comprised of loans that were accruing interest at the time of restructuring or have demonstrated repayment performance in compliance with the restructured terms for a sustained period and for which the Company anticipates full repayment of both principal and interest. At September 30, 2018, performing TDRs were comprised of 10 SFR mortgage loans of $2.5 million, one SBA loan of $588,000, one commercial real estate loan of $492,000, and two commercial and industrial loans of $142,000. The majority of TDRs have no specific allowance allocated as any impairment amount is normally charged off at the time a probable loss is determined. We have allocated zero and $1,000 of specific allowance to TDRs as of September 30, 2018 and December 31, 2017, respectively. The following table provides a summary of the activity related to TDRs for the periods presented. For the Three Months Ended For the Nine Months Ended 2018 2017 2018 2017 (Dollars in thousands) Performing TDRs: Beginning balance $ 4,530 $ 16,574 $ 4,809 $ 19,233 New modifications - - 311 3,143 Payoffs/payments, net and other (777 ) (10,839 ) (1,367 ) (13,826 ) TDRs returned to accrual status - - - 329 TDRs placed on nonaccrual status - - - (3,144 ) Ending balance $ 3,753 $ 5,735 $ 3,753 $ 5,735 Nonperforming TDRs: Beginning balance $ 3,892 $ 4,391 $ 4,200 $ 1,626 New modifications 278 - 316 2,066 Charge-offs - - - - Payoffs/payments, net and other (650 ) (81 ) (996 ) (2,197 ) TDRs returned to accrual status - - - (329 ) TDRs placed on nonaccrual status - - - 3,144 Ending balance $ 3,520 $ 4,310 $ 3,520 $ 4,310 Total TDRs $ 7,273 $ 10,045 $ 7,273 $ 10,045 The following table summarizes loans modified as troubled debt restructurings for the period presented. Modifications (1) For the Three Months Ended September 30, 2018 Number of Pre-Modification Post-Modification Outstanding Investment at Financial Effect (Dollars in thousands) Commercial and industrial: Interest rate reduction - $ - $ - $ - $ - Change in amortization period or maturity - - - - - Real estate: Commercial real estate: Owner occupied Interest rate reduction - - - - - Change in amortization period or maturity - - - - - Non-owner Interest rate reduction - - - - - Change in amortization period or maturity - - - - - SFR mortgage: Interest rate reduction - - - - - Change in amortization period or maturity - - - - - Dairy & livestock and agribusiness: Interest rate reduction - - - - - Change in amortization period or maturity - - - - - Consumer: Interest rate reduction - - - - - Change in amortization period or maturity 1 278 278 272 - Total loans 1 $ 278 $ 278 $ 272 $ - For the Three Months Ended September 30, 2017 Number of Pre-Modification Post-Modification Outstanding Financial Effect (Dollars in thousands) Commercial and industrial: Interest rate reduction - $ - $ - $ - $ - Change in amortization period or maturity - - - - - Real estate: Commercial real estate: Owner occupied Interest rate reduction - - - - - Change in amortization period or maturity - - - - - Non-owner Interest rate reduction - - - - - Change in amortization period or maturity - - - - - SFR mortgage: Interest rate reduction - - - - - Change in amortization period or maturity - - - - - Dairy & livestock and agribusiness: Interest rate reduction - - - - - Change in amortization period or maturity - - - - - Consumer: Interest rate reduction - - - - - Change in amortization period or maturity - - - - - Total loans - $ - $ - $ - $ - For the Nine Months Ended September 30, 2018 Number of Pre-Modification Post-Modification Outstanding Investment at Financial Effect (Dollars in thousands) Commercial and industrial: Interest rate reduction - $ - $ - $ - $ - Change in amortization period or maturity 1 38 38 27 - Real estate: Commercial real estate: Owner occupied Interest rate reduction - - - - - Change in amortization period or maturity - - - - - Non-owner Interest rate reduction - - - - - Change in amortization period or maturity - - - - - SFR mortgage: Interest rate reduction - - - - - Change in amortization period or maturity 1 311 311 304 - Dairy & livestock and agribusiness: Interest rate reduction - - - - - Change in amortization period or maturity - - - - - Consumer: Interest rate reduction - - - - - Change in amortization period or maturity 1 278 278 272 - Total loans 3 $ 627 $ 627 $ 603 $ - For the Nine Months Ended September 30, 2017 Number of Pre-Modification Outstanding Post-Modification Outstanding Recorded Investment Outstanding Recorded Investment at September 30, 2017 Financial Effect Resulting From Modifications (2) (Dollars in thousands) Commercial and industrial: Interest rate reduction - $ - $ - $ - $ - Change in amortization period or maturity - - - - - Real estate: Commercial real estate: Owner occupied Interest rate reduction - - - - - Change in amortization period or maturity 1 3,143 3,143 3,143 - Non-owner Interest rate reduction - - - - - Change in amortization period or maturity - - - - - SFR mortgage: Interest rate reduction - - - - - Change in amortization period or maturity - - - - - Dairy & livestock and agribusiness: Interest rate reduction - - - - - Change in amortization period or maturity 1 1,984 1,984 78 - Consumer: Interest rate reduction - - - - - Change in amortization period or maturity 1 82 82 76 - Total loans 3 $ 5,209 $ 5,209 $ 3,297 $ - (1) The tables above exclude modified loans that were paid off prior to the end of the period. (2) Financial effects resulting from modifications represent charge-offs and specific allowance recorded at modification date. As of September 30, 2018, there were no loans that were previously modified as a TDR within the previous 12 months that subsequently defaulted during the three and nine months ended September 30, 2018. As of September 30, 2017, there was one commercial real estate loan with an outstanding balance of $3.1 million and one dairy & livestock and agribusiness loan with an outstanding balance of $78,000 that was modified as a TDR within the previous 12 months that subsequently defaulted during the nine months ended September 30, 2017. |
Earnings Per Share Reconciliati
Earnings Per Share Reconciliation | 9 Months Ended |
Sep. 30, 2018 | |
Earnings Per Share [Abstract] | |
Earnings Per Share Reconciliation | 8. EARNINGS PER SHARE RECONCILIATION Basic earnings per common share are computed by dividing income allocated to common stockholders by the weighted-average number of common shares outstanding during each period. The computation of diluted earnings per common share considers the number of shares issuable upon the assumed exercise of outstanding common stock options. Antidilutive common shares are not included in the calculation of diluted earnings per common share. For the three and nine months ended September 30, 2018, shares deemed to be antidilutive, and thus excluded from the computation of earnings per common share, were 56,000 and 50,000, respectively. For the three and nine months ended September 30, 2017, shares deemed to be antidilutive, and thus excluded from the computation of earnings per common share, were 15,000 and 10,000, respectively. The table below shows earnings per common share and diluted earnings per common share, and reconciles the numerator and denominator of both earnings per common share calculations. For the Three Months Ended September 30, For the Nine Months Ended 2018 2017 2018 2017 (In thousands, except per share amounts) Earnings per common share: Net earnings $ 38,558 $ 29,683 $ 108,844 $ 86,560 Less: Net earnings allocated to restricted stock 96 107 298 325 Net earnings allocated to common shareholders $ 38,462 $ 29,576 $ 108,546 $ 86,235 Weighted average shares outstanding 126,574 109,754 115,533 109,280 Basic earnings per common share $ 0.30 $ 0.27 $ 0.94 $ 0.79 Diluted earnings per common share: Net income allocated to common shareholders 38,462 29,576 108,546 86,235 Weighted average shares outstanding 126,574 109,754 115,533 109,280 Incremental shares from assumed exercise of outstanding options 363 365 397 392 Diluted weighted average shares outstanding 126,937 110,119 115,930 109,672 Diluted earnings per common share $ 0.30 $ 0.27 $ 0.94 $ 0.79 |
Fair Value Information
Fair Value Information | 9 Months Ended |
Sep. 30, 2018 | |
Fair Value Disclosures [Abstract] | |
Fair Value Information | 9. FAIR VALUE INFORMATION Fair Value Hierarchy Fair value is the exchange price that would be received for an asset or paid to transfer a liability (exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. The following disclosure provides the fair value information for financial assets and liabilities as of September 30, 2018. The fair value hierarchy prioritizes the inputs to valuation techniques used to measure fair value into three broad levels (Level 1, Level 2 and Level 3). ● Level 1 ● Level 2 ● Level 3 There were no transfers in and out of Level 1 and Level 2 during the nine months ended September 30, 2018 and 2017. Assets and Liabilities Measured at Fair Value on a Recurring Basis The tables below present the balances of assets and liabilities measured at fair value on a recurring basis for the periods presented. Carrying Value at Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) (Dollars in thousands) Description of assets Investment securities - AFS: Residential mortgage-backed securities $ 1,532,878 $ - $ 1,532,878 $ - CMO/REMIC - residential 223,817 - 223,817 - Municipal bonds 48,739 - 48,739 - Other securities 797 - 797 - Total investment securities - AFS 1,806,231 - 1,806,231 - Interest rate swaps 944 - 944 - Total assets $ 1,807,175 $ - $ 1,807,175 $ - Description of liability Interest rate swaps $ 944 $ - $ 944 $ - Total liabilities $ 944 $ - $ 944 $ - Carrying Value at Quoted Prices in Significant Other Significant (Dollars in thousands) Description of assets Investment securities - AFS: Residential mortgage-backed securities $ 1,750,909 $ - $ 1,750,909 $ - CMO/REMIC - residential 273,829 - 273,829 - Municipal bonds 55,496 - 55,496 - Other securities 751 - 751 - Total investment securities - AFS 2,080,985 - 2,080,985 - Interest rate swaps 3,211 - 3,211 - Total assets $ 2,084,196 $ - $ 2,084,196 $ - Description of liability Interest rate swaps $ 3,211 $ - $ 3,211 $ - Total liabilities $ 3,211 $ - $ 3,211 $ - Assets and Liabilities Measured at Fair Value on a Non-Recurring We may be required to measure certain assets at fair value on a non-recurring For assets measured at fair value on a non-recurring Carrying Value at Quoted Prices in Significant Other Significant Total Losses (Dollars in thousands) Description of assets Impaired loans, excluding PCI loans: Commercial and industrial $ - $ - $ - $ - $ - SBA - - - - - Real estate: Commercial real estate - - - - - Construction - - - - - SFR mortgage 13 - - 13 13 Dairy & livestock and agribusiness - - - - - Consumer and other loans 1 - - 1 1 Other real estate owned - - - - - Asset held-for-sale - - - - - Total assets $ 14 $ - $ - $ 14 $ 14 Carrying Value at Quoted Prices in Significant Other Significant Total Losses For the Year Ended (Dollars in thousands) Description of assets Impaired loans, excluding PCI loans: Commercial and industrial $ - $ - $ - $ - $ - SBA - - - - - Real estate: Commercial real estate - - - - - Construction - - - - - SFR mortgage - - - - - Dairy & livestock and agribusiness - - - - - Consumer and other loans 378 - - 378 74 Other real estate owned - - - - - Asset held-for-sale - - - - - Total assets $ 378 $ - $ - $ 378 $ 74 Fair Value of Financial Instruments The following disclosure presents estimated fair value of our financial instruments. The estimated fair value amounts have been determined by the Company using available market information and appropriate valuation methodologies. However, considerable judgment is required to develop the estimates of fair value. Accordingly, the estimates presented below are not necessarily indicative of the amounts the Company may realize in a current market exchange as of September 30, 2018 and December 31, 2017, respectively. The use of different market assumptions and/or estimation methodologies may have a material effect on the estimated fair value amounts. September 30, 2018 Estimated Fair Value Carrying Level 1 Level 2 Level 3 Total (Dollars in thousands) Assets Total cash and cash equivalents $ 194,475 $ 194,475 $ - $ - $ 194,475 Interest-earning balances due from depository institutions 8,812 - 8,723 - 8,723 Investment securities available-for-sale 1,806,231 - 1,806,231 - 1,806,231 Investment securities held-to-maturity 759,029 - 726,755 - 726,755 Total loans, net of allowance for loan losses (1) 7,522,452 - - 7,218,542 7,218,542 Swaps 944 - 944 - 944 Liabilities Deposits: Interest-bearing $ 3,885,672 $ - $ 3,875,171 $ - $ 3,875,171 Borrowings 429,477 - 429,092 - 429,092 Junior subordinated debentures 25,774 - - 21,218 21,218 Swaps 944 - 944 - 944 (1) The fair value of loans as of September 30, 2018 was measured using an exit price notion. December 31, 2017 Estimated Fair Value Carrying Level 1 Level 2 Level 3 Total (Dollars in thousands) Assets Total cash and due from banks $ 144,377 $ 144,377 $ - $ - $ 144,377 Interest-earning balances due from depository institutions 17,952 - 17,951 - 17,951 FHLB stock 17,688 - 17,688 - 17,688 Investment securities available-for-sale 2,080,985 - 2,080,985 - 2,080,985 Investment securities held-to-maturity 829,890 - 819,215 - 819,215 Total loans, net of allowance for loan losses 4,771,046 - - 4,678,402 4,678,402 Swaps 3,211 - 3,211 - 3,211 Liabilities Deposits: Noninterest-bearing $ 3,846,436 $ 3,846,436 $ - $ - $ 3,846,436 Interest-bearing 2,700,417 - 2,697,781 - 2,697,781 Borrowings 553,773 - 553,416 - 553,416 Junior subordinated debentures 25,774 - - 18,070 18,070 Swaps 3,211 - 3,211 - 3,211 The fair value estimates presented herein are based on pertinent information available to management as of September 30, 2018 and December 31, 2017. Although management is not aware of any factors that would significantly affect the estimated fair value amounts, such amounts have not been comprehensively revalued for purposes of these financial statements since that date, and therefore, current estimates of fair value may differ significantly from the amounts presented above. |
Derivative Financial Instrument
Derivative Financial Instruments | 9 Months Ended |
Sep. 30, 2018 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Derivative Financial Instruments | 10. DERIVATIVE FINANCIAL INSTRUMENTS The Bank is exposed to certain risks relating to its ongoing business operations and utilizes interest rate swap agreements (“swaps”) as part of its asset/liability management strategy to help manage its interest rate risk position. As of September 30, 2018, the Bank has entered into 76 interest-rate swap agreements with customers. The Bank then entered into identical offsetting swaps with a counterparty bank. The swap agreements are not designated as hedging instruments. The purpose of entering into offsetting derivatives not designated as a hedging instrument is to provide the Bank a variable-rate loan receivable and to provide the customer the financial effects of a fixed-rate loan without creating significant volatility in the Bank’s earnings. The structure of the swaps is as follows. The Bank enters into an interest rate swap with its customers in which the Bank pays the customer a variable rate and the customer pays the Bank a fixed rate, therefore allowing customers to convert variable rate loans to fixed rate loans. At the same time, the Bank enters into a swap with the counterparty bank in which the Bank pays the counterparty a fixed rate and the counterparty in return pays the Bank a variable rate, which has the effect of passing on the interest-rate risk associated with the customer’s fixed rate swap to the counterparty bank. The net effect of the transaction allows the Bank to receive interest on the loan from the customer at a variable rate based on LIBOR plus a spread. The changes in the fair value of the swaps primarily offset each other and therefore should not have a significant impact on the Company’s results of operations, although the Company does incur credit and counterparty risk with respect to performance on the swap agreements by the Bank’s customer and counterparty, respectively. Our interest rate swap derivatives are subject to a master netting arrangement with one counterparty bank. None of our derivative assets and liabilities are offset in the balance sheet. We believe our risk of loss associated with our counterparty borrowers related to interest rate swaps is mitigated as the loans with swaps are underwritten to take into account potential additional exposure, although there can be no assurances in this regard since the performance of our swaps is subject to market and counterparty risk. Balance Sheet Classification of Derivative Financial Instruments As of September 30, 2018 and December 31, 2017, the total notional amount of the Company’s swaps was $204.1 million, and $198.5 million, respectively. The location of the asset and liability, and their respective fair values are summarized in the tables below. September 30, 2018 Asset Derivatives Liability Derivatives Balance Sheet Fair Balance Sheet Fair (Dollars in thousands) Derivatives not designated as hedging instruments: Interest rate swaps Other assets $ 944 Other liabilities $ 944 Total derivatives $ 944 $ 944 December 31, 2017 Asset Derivatives Liability Derivatives Balance Sheet Fair Balance Sheet Fair (Dollars in thousands) Derivatives not designated as hedging instruments: Interest rate swaps Other assets $ 3,211 Other liabilities $ 3,211 Total derivatives $ 3,211 $ 3,211 The Effect of Derivative Financial Instruments on the Condensed Consolidated Statements of Earnings The following table summarizes the effect of derivative financial instruments on the condensed consolidated statement of earnings for the periods presented. Derivatives Not Designated as Hedging Instruments Location of Gain Recognized in Amount of Gain Recognized in Income on Derivative Instruments For the Three Months Ended For the Nine Months Ended 2018 2017 2018 2017 (Dollars in thousands) Interest rate swaps Other income $ 73 $ 198 $ 340 $ 592 Total $ 73 $ 198 $ 340 $ 592 |
Other Comprehensive Income
Other Comprehensive Income | 9 Months Ended |
Sep. 30, 2018 | |
Equity [Abstract] | |
Other Comprehensive Income | 11. OTHER COMPREHENSIVE INCOME The table below provides a summary of the components of other comprehensive income (“OCI”) for the periods presented. For the Three Months Ended September 30, 2018 2017 Before-tax Tax effect After-tax Before-tax Tax effect After-tax (Dollars in thousands) Investment securities: Net change in fair value recorded in accumulated OCI $ (10,235 ) $ 3,025 $ (7,210 ) $ 2,083 $ (875 ) $ 1,208 Amortization of unrealized gains (losses) on securities transferred from available-for-sale held-to-maturity (152 ) 45 (107 ) (862 ) 362 (500 ) Net realized gain reclassified into earnings (1) - - - - - - Net change $ (10,387 ) $ 3,070 $ (7,317 ) $ 1,221 $ (513 ) $ 708 For the Nine Months Ended September 30, 2018 2017 Before-tax Tax effect After-tax Before-tax Tax effect After-tax (Dollars in thousands) Investment securities: Net change in fair value recorded in accumulated OCI $ (47,346 ) $ 13,997 $ (33,349 ) $ 6,128 $ (2,574 ) $ 3,554 Amortization of unrealized gains (losses) on securities transferred from available-for-sale held-to-maturity (1,809 ) 535 (1,274 ) (2,841 ) 1,193 (1,648 ) Net realized gain reclassified into earnings (1) - - - (402 ) 169 (233 ) Net change $ (49,155 ) $ 14,532 $ (34,623 ) $ 2,885 $ (1,212 ) $ 1,673 (1) Included in other noninterest income. |
Balance Sheet Offsetting
Balance Sheet Offsetting | 9 Months Ended |
Sep. 30, 2018 | |
Text Block [Abstract] | |
Balance Sheet Offsetting | 12. BALANCE SHEET OFFSETTING Assets and liabilities relating to certain financial instruments, including, derivatives and securities sold under repurchase agreements (“repurchase agreements”), may be eligible for offset in the condensed consolidated balance sheets as permitted under accounting guidance. As noted above, our interest rate swap derivatives are subject to a master netting arrangement with one counterparty bank. Our interest rate swap derivatives require the Company to pledge investment securities as collateral based on certain risk thresholds. Investment securities that have been pledged by the Company to the counterparty bank continue to be reported in the Company’s condensed consolidated balance sheets unless the Company defaults. We offer a repurchase agreement product to our customers, which include master netting agreements that allow for the netting of collateral positions. This product, known as Citizens Sweep Manager, sells certain of our securities overnight to our customers under an agreement to repurchase them the next day. The repurchase agreements are not offset in the condensed consolidated balances. Gross Amounts Consolidated Gross Amounts Consolidated Net Amounts of Consolidated Gross Amounts Not Offset in the Financial Collateral Balance Sheets Balance Sheets Balance Sheets Instruments Pledged Net Amount (Dollars in thousands) September 30, 2018 Financial assets: Derivatives not designated as hedging instruments $ 944 $ - $ - $ 944 $ - $ 944 Total $ 944 $ - $ - $ 944 $ - $ 944 Financial liabilities: Derivatives not designated as hedging instruments $ 6,797 $ (5,853 ) $ 944 $ 5,853 $ - $ 6,797 Repurchase agreements 399,477 - 399,477 - (441,848 ) (42,371 ) Total $ 406,274 $ (5,853 ) $ 400,421 $ 5,853 $ (441,848 ) $ (35,574 ) December 31, 2017 Financial assets: Derivatives not designated as hedging instruments $ 3,211 $ - $ - $ 3,211 $ - $ 3,211 Total $ 3,211 $ - $ - $ 3,211 $ - $ 3,211 Financial liabilities: Derivatives not designated as hedging instruments $ 4,495 $ (1,284 ) $ 3,211 $ 1,284 $ (12,760 ) $ (8,265 ) Repurchase agreements 553,773 - 553,773 - (573,759 ) (19,986 ) Total $ 558,268 $ (1,284 ) $ 556,984 $ 1,284 $ (586,519 ) $ (28,251 ) |
Revenue Recognition
Revenue Recognition | 9 Months Ended |
Sep. 30, 2018 | |
Revenue from Contract with Customer [Abstract] | |
Revenue Recognition | 13. REVENUE RECOGNITION On January 1, 2018, the Company adopted ASU No. 2014-09 Summary of Significant Accounting Policies Topic 606 does not apply to revenue associated with financial instruments, including revenue from loans and securities. In addition, certain noninterest income streams such as fees associated with mortgage servicing rights, financial guarantees, derivatives, and certain credit card fees are also not in scope of the new guidance. Topic 606 is applicable to noninterest revenue streams such as trust and asset management income, deposit related fees, interchange fees, and merchant income. However, the recognition of these revenue streams did not change significantly upon adoption of Topic 606. Substantially all of the Company’s revenue is generated from contracts with customers. Noninterest revenue streams in-scope Trust and Investment Services Trust and asset management income is primarily comprised of fees earned from the management and administration of trusts and customer assets. The Company’s performance obligation is generally satisfied over time and the resulting fees are recognized monthly, based upon the monthly market value of the assets under management and the applicable fee rate. Payment is generally received at month end through a direct charge to customers’ accounts. The Company does not earn performance-based incentives. Other services related to real estate and tax return preparation services are also provided to existing trust and asset management customers. The Company’s performance obligation for these transactional-based services is generally satisfied, and related revenue recognized, at a point in time (i.e., as incurred). Payment is received shortly after services are rendered. Wealth Management contracts with customers have no clauses that would entitle customers to additional services. Fees are generally earned based on market value of assets under management (AUM) and miscellaneous fees are transaction driven and are charged based on an agreed upon fee schedule. Performance obligation is satisfied upon execution of the transaction and there is no need to allocate transaction price to the performance obligation(s) in the contract. Wealth Management customers can also terminate the contract at will. Based on our review, we did not find provisions in the contracts that will require changes to the current accounting under Topic 606. For Investment Services, the fees are earned based on services performed for customers as provided through an affiliated broker-dealer. Fees are earned from gross dealer commission based on trade date. Performance obligation is satisfied upon execution of the transaction and there is no need to allocate transaction price to the performance obligation(s) in the contract. Based on our review, we did not find provisions in the contracts that will require changes to the current accounting under Topic 606. Deposit-related Fees Service charges on deposit accounts consist of account analysis fees earned on analyzed business checking accounts, monthly service fees, and other deposit account related fees. The Company’s performance obligation for account analysis fees and monthly service fees is generally satisfied, and the related revenue recognized, over the period in which the service is provided. Other deposit account related fees are largely transactional based, and therefore, the Company’s performance obligation is satisfied, and related revenue recognized, at a point in time. Payment for service charges on deposit accounts is primarily received immediately or in the following month through a direct charge to customers’ accounts. Bankcard Services The Bank generates revenues from merchant servicing to its clients. A fee schedule is part of the contract and is calculated based on sales of merchants on a monthly basis. There is no future promise or claim to deliver services as merchant fees are based on monthly merchant transactions. The Company’s performance obligations are largely satisfied, and related revenue recognized, when the services are rendered or upon completion. Payment is typically received immediately or in the following month. Therefore, the new revenue standard has no impact on revenues generated from bankcard services. The following presents noninterest income, segregated by revenue streams in-scope out-of-scope For the Three Months Ended For the Nine Months Ended September 30, September 30, 2018 2017 2018 2017 (Dollars in thousands) Noninterest income: In-scope Service charges on deposit accounts $ 4,295 $ 4,085 $ 12,431 $ 11,794 Trust and investment services 2,182 2,523 6,738 7,432 Bankcard services 875 927 2,637 2,563 Gain on OREO, net - 2 3,540 4 Other 1,824 1,267 4,393 3,895 Noninterest Income (in-scope 9,176 8,804 29,739 25,688 Noninterest Income (out-of-scope 936 1,234 2,984 3,848 Total noninterest income $ 10,112 $ 10,038 $ 32,723 $ 29,536 Contract Balances A contract asset balance occurs when an entity performs a service for a customer before the customer pays consideration (resulting in a contract receivable) or before payment is due (resulting in a contract asset). A contract liability balance is an entity’s obligation to transfer a service to a customer for which the entity has already received payment (or payment is due) from the customer. The Company’s noninterest revenue streams are largely based on transactional activity, or standard month-end month-end Contract Acquisition Costs In connection with the adoption of Topic 606, an entity is required to capitalize, and subsequently amortize into expense, certain incremental costs of obtaining a contract with a customer if these costs are expected to be recovered. The incremental costs of obtaining a contract are those costs that an entity incurs to obtain a contract with a customer that it would not have incurred if the contract had not been obtained (for example, sales commission). The Company utilizes the practical expedient, which allows entities to immediately expense contract acquisition costs when the asset that would have resulted from capitalizing these costs would have been amortized in one year or less. Upon adoption of Topic 606, the Company did not capitalize any contract acquisition costs. |
Basis of Presentation (Policies
Basis of Presentation (Policies) | 9 Months Ended |
Sep. 30, 2018 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Reclassification | Reclassification |
Business Segments | Business Segments — re-evaluated As of September 30, 2018, we operated as one reportable segment. The factors considered in making this determination include the nature of products and offered services, geographic regions in which we operate, the applicable regulatory environment, and the materiality of discrete financial information reviewed by our key decision makers. Through our network of banking centers, we provide relationship-based banking products, services and solutions for small to mid-sized non-profit |
Use of Estimates in the Preparation of Financial Statements | Use of Estimates in the Preparation of Financial Statements |
Adoption of New Accounting Standards and Recent Accounting Pronouncements | Adoption of New Accounting Standards No. 2014-09, No. 2015-14, No. 2014-09 Revenue Recognition In January 2016, the FASB issued ASU No. 2016-01, 825-10): available-for-sale 2016-01 Fair Value Information In August 2016, the FASB issued ASU No. 2016-15, zero-coupon In May 2017, the FASB issued ASU No. 2017-09, 2017-09 No. 2017-09 In February 2018, the FASB issued ASU No. 2018-02, 2018-02 2018-02 Recent Accounting Pronouncements No. 2016-02, 2016-02 right-of-use 2018-10, 2018-10 2016-02. In July 2018, the FASB issued ASU No. 2018-11, No. 2016-02, non-lease 2018-11: non-lease 2016-02. The Company established a project to consider the impact of Topic 842. The leasing portfolio consists of real estate leases, which are used for the banking operations of the Company. All leases in the current portfolio have been classified as operating leases, although this may change in the future. Management does not anticipate a material impact to the consolidated statement of earnings. Management estimates the ROU asset and liability to be between $15 million and $20 million. This amount is based on the present value of currently-committed cash flows from leases discounted at the Company’s incremental rate of borrowing on an arms-length basis. This liability includes the non-lease In addition, there are a number of practical expedients that have been elected, which included electing not to adjust comparative financial statements at the effective date of the new accounting standard, with the effect of initially applying ASC 842 recognized as a cumulative-effect adjustment to retained earnings in the period of adoption. In June 2016, the FASB issued ASU No. 2016-13, off-balance held-to-maturity available-for-sale No. 2016-13 In January 2017, the FASB issued ASU No. 2017-04, 2017-04 In August 2017, the FASB issued ASU No. 2017-12, 2017-12 non-financial No. 2017-12 In June 2018, the FASB issued ASU No. 2018-07, 2018-07 2018-07 In August 2018, the FASB issued ASU No. 2018-13, No. 2018-13 |
Fair Value Hierarchy | Fair Value Hierarchy Fair value is the exchange price that would be received for an asset or paid to transfer a liability (exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. The following disclosure provides the fair value information for financial assets and liabilities as of September 30, 2018. The fair value hierarchy prioritizes the inputs to valuation techniques used to measure fair value into three broad levels (Level 1, Level 2 and Level 3). ● Level 1 ● Level 2 ● Level 3 |
Business Combinations (Tables)
Business Combinations (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Business Combinations [Abstract] | |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed | The table below summarizes the amounts recognized for the estimated fair value of assets acquired and the liabilities assumed as of the acquisition date. August 10, 2018 (Dollars in thousands) Merger Consideration Cash paid $ 180,719 CVBF common stock issued 722,767 Total merger consideration $ 903,486 Identifiable net assets acquired, at fair value Assets Acquired Cash and cash equivalents 47,802 Investment securities 716,996 FHLB stock 17,250 Loans 2,734,081 Accrued interest receivable 7,916 Premises and equipment 14,632 BOLI 70,904 Core deposit intangible 52,200 Other assets 58,130 Total assets acquired 3,719,911 Liabilities assumed Deposits 2,869,986 FHLB advances 297,571 Other borrowings 166,000 Other liabilities 29,192 Total liabilities assumed 3,362,749 Total fair value of identifiable net assets, at fair value 357,162 Goodwill $ 546,324 |
Business Acquisition Pro Forma Information | As a result, actual amounts would have differed from the unaudited pro forma information presented. Unaudited Pro Forma Nine Months Ended September 30, 2018 2017 (Dollars in thousands) Total revenues (net interest income plus noninterest income) $ 364,846 $ 354,990 Net Income $ 138,274 $ 118,419 Earnings per share–basic $ 0.99 $ 0.85 Earnings per share–diluted $ 0.99 $ 0.85 |
Investment Securities (Tables)
Investment Securities (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Investments, Debt and Equity Securities [Abstract] | |
Summary of Amortized Cost and Estimated Fair Value of Investment Securities | The amortized cost and estimated fair value of investment securities are summarized below. The majority of securities held are available-for-sale September 30, 2018 Amortized Gross Gross Fair Value Total Percent (Dollars in thousands) Investment securities available-for-sale: Residential mortgage-backed securities $ 1,570,072 $ 1,014 $ (38,208 ) $ 1,532,878 84.87 % CMO/REMIC - residential 229,832 152 (6,167 ) 223,817 12.39 % Municipal bonds 50,022 308 (1,591 ) 48,739 2.70 % Other securities 797 - - 797 0.04 % Total available-for-sale $ 1,850,723 $ 1,474 $ (45,966 ) $ 1,806,231 100.00 % Investment securities held-to-maturity: Government agency/GSE $ 144,871 $ - $ (5,129 ) $ 139,742 19.09 % Residential mortgage-backed securities 158,769 - (5,502 ) 153,267 20.92 % CMO 216,980 - (13,960 ) 203,020 28.58 % Municipal bonds 238,409 225 (7,908 ) 230,726 31.41 % Total held-to-maturity $ 759,029 $ 225 $ (32,499) $ 726,755 100.00 % December 31, 2017 Amortized Gross Gross Fair Value Total (Dollars in thousands) Investment securities available-for-sale: Residential mortgage-backed securities $ 1,747,780 $ 11,231 $ (8,102 ) $ 1,750,909 84.14 % CMO/REMIC-residential 274,634 1,277 (2,082 ) 273,829 13.16 % Municipal bonds 54,966 774 (244 ) 55,496 2.66 % Other securities 751 - - 751 0.04 % Total available-for-sale $ 2,078,131 $ 13,282 $ (10,428 ) $ 2,080,985 100.00 % Investment securities held-to-maturity: Government agency/GSE $ 159,716 $ 854 $ (2,134 ) $ 158,436 19.25 % Residential mortgage-backed securities 176,427 667 (382 ) 176,712 21.26 % CMO 225,072 - (8,641 ) 216,431 27.12 % Municipal bonds 268,675 2,751 (3,790 ) 267,636 32.37 % Total held-to-maturity $ 829,890 $ 4,272 $ (14,947) $ 819,215 100.00 % |
Summary of Interest Income Earned on Investment Securities | 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 Ended For the Nine Months Ended 2018 2017 2018 2017 (Dollars in thousands) Investment securities available-for-sale: Taxable $ 11,126 $ 11,767 $ 33,861 $ 36,113 Tax-advantaged 395 473 1,225 1,774 Total interest income from available-for-sale 11,521 12,240 35,086 37,887 Investment securities held-to-maturity: Taxable 2,961 3,111 8,887 9,591 Tax-advantaged 1,705 2,073 5,351 6,423 Total interest income from held-to-maturity 4,666 5,184 14,238 16,014 Total interest income from investment securities $ 16,187 $ 17,424 $ 49,324 $ 53,901 |
Summary of Continuous Unrealized Loss Position of Securities | The tables below show the Company’s investment securities’ gross unrealized losses and fair value by investment category and length of time that individual securities have been in a continuous unrealized loss position at September 30, 2018 and December 31, 2017. Management has reviewed individual securities to determine whether a decline in fair value below the amortized cost basis is other-than-temporary. The unrealized losses on these securities were primarily attributed to changes in interest rates. The issuers of these securities have not, to our knowledge, evidenced any cause for default on these securities. These securities have fluctuated in value since their purchase dates as market rates have fluctuated. However, we have the ability to hold and do not have the intent to sell these securities. As such, management does not deem these securities to be Other-Than-Temporarily-Impaired (“OTTI”). September 30, 2018 Less Than 12 Months 12 Months or Longer Total Fair Value Gross Fair Value Gross Fair Value Gross (Dollars in thousands) Investment securities available-for-sale: Residential mortgage-backed securities $ 1,193,435 $ (24,475 ) $ 287,707 $ (13,733 ) $ 1,481,142 $ (38,208 ) CMO/REMIC - residential 139,064 (3,053 ) 60,925 (3,114 ) 199,989 (6,167 ) Municipal bonds 11,257 (389 ) 12,987 (1,202 ) 24,244 (1,591 ) Total available-for-sale $ 1,343,756 $ (27,917 ) $ 361,619 $ (18,049 ) $ 1,705,375 $ (45,966 ) Investment securities held-to-maturity: Government agency/GSE $ 99,203 $ (2,326 ) $ 40,539 $ (2,803 ) $ 139,742 $ (5,129 ) Residential mortgage-backed securities 101,083 (3,206 ) 52,184 (2,296 ) 153,267 (5,502 ) CMO - - 203,020 (13,960 ) 203,020 (13,960 ) Municipal bonds 116,918 (2,143 ) 67,284 (5,765 ) 184,202 (7,908 ) Total held-to-maturity $ 317,204 $ (7,675 ) $ 363,027 $ (24,824 ) $ 680,231 $ (32,499 ) December 31, 2017 Less Than 12 Months 12 Months or Longer Total Fair Value Gross Fair Value Gross Fair Value Gross (Dollars in thousands) Investment securities available-for-sale: Residential mortgage-backed securities $ 414,091 $ (1,828 ) $ 303,746 $ (6,274 ) $ 717,837 $ (8,102 ) CMO/REMIC - residential 95,137 (487 ) 71,223 (1,595 ) 166,360 (2,082 ) Municipal bonds 946 (4 ) 13,956 (240 ) 14,902 (244 ) Total available-for-sale $ 510,174 $ (2,319 ) $ 388,925 $ (8,109 ) $ 899,099 $ (10,428 ) Investment securities held-to-maturity: Government agency/GSE $ 18,950 $ (27 ) $ 43,495 $ (2,107 ) $ 62,445 $ (2,134 ) Residential mortgage-backed securities 51,297 (188 ) 55,306 (194 ) 106,603 (382 ) CMO - - 216,431 (8,641 ) 216,431 (8,641 ) Municipal bonds 32,069 (492 ) 66,217 (3,298 ) 98,286 (3,790 ) Total held-to-maturity $ 102,316 $ (707 ) $ 381,449 $ (14,240 ) $ 483,765 $ (14,947 ) |
Summary of Amortized Cost and Fair Value of Debt Securities by Contractual Maturity | Mortgage-backed and CMO/REMIC securities are included in maturity categories based upon estimated average lives which incorporate estimated prepayment speeds. September 30, 2018 Available-for-sale Held-to-maturity Amortized Fair Value Amortized Fair Value (Dollars in thousands) Due in one year or less $ 19,806 $ 19,964 $ - $ - Due after one year through five years 1,676,348 1,637,053 315,036 298,729 Due after five years through ten years 113,539 109,910 172,281 167,824 Due after ten years 41,030 39,304 271,712 260,202 Total investment securities $ 1,850,723 $ 1,806,231 $ 759,029 $ 726,755 |
Acquired SJB Assets and FDIC _2
Acquired SJB Assets and FDIC Loss Sharing Asset (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Text Block [Abstract] | |
Summary of PCI Loans and Lease Finance Receivables | The following table provides a summary of PCI loans and lease finance receivables by type and by internal risk ratings (credit quality indicators) for the periods indicated. September 30, 2018 December 31, 2017 (Dollars in thousands) Commercial and industrial $ 459 $ 934 SBA 1,286 1,383 Real estate: Commercial real estate 14,979 27,431 Construction - - SFR mortgage 150 162 Dairy & livestock and agribusiness 200 770 Municipal lease finance receivables - - Consumer and other loans 186 228 Gross PCI loans 17,260 30,908 Less: Purchase accounting discount - (2,026 ) Gross PCI loans, net of discount 17,260 28,882 Less: Allowance for PCI loan losses (205 ) (367 ) Net PCI loans $ 17,055 $ 28,515 |
Summary of Gross PCI Loans by Internal Risk Ratings by Loans | The following table summarizes gross PCI loans by internal risk ratings for the periods indicated. September 30, 2018 December 31, 2017 (Dollars in thousands) Pass $ 15,775 $ 26,439 Special mention 1,251 1,088 Substandard 234 3,381 Doubtful & loss - - Total gross PCI loans $ 17,260 $ 30,908 |
Loans and Lease Finance Recei_2
Loans and Lease Finance Receivables and Allowance for Loan Losses (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Receivables [Abstract] | |
Summary of Components of Loans and Lease Finance Receivables, Excluding PCI Loans | The following table provides a summary of the Company’s total loans and lease finance receivables, excluding PCI loans, by type. September 30, 2018 December 31, 2017 (Dollars in thousands) Commercial and industrial $ 1,021,906 $ 513,325 SBA 357,052 122,055 Real estate: Commercial real estate 5,268,740 3,376,713 Construction 123,274 77,982 SFR mortgage 292,516 236,202 Dairy & livestock and agribusiness 304,598 347,289 Municipal lease finance receivables 67,581 70,243 Consumer and other loans 134,796 64,229 Gross loans, excluding PCI loans 7,570,463 4,808,038 Less: Deferred loan fees, net (5,264 ) (6,289 ) Gross loans, excluding PCI loans, net of deferred loan fees 7,565,199 4,801,749 Less: Allowance for loan losses (59,802 ) (59,218 ) Net loans, excluding PCI loans 7,505,397 4,742,531 PCI Loans 17,260 30,908 Discount on PCI loans - (2,026 ) Less: Allowance for loan losses (205 ) (367 ) PCI loans, net 17,055 28,515 Total loans and lease finance receivables $ 7,522,452 $ 4,771,046 |
Summary of Loan, Excluding PCI Loans by Internal Risk Ratings | The following table summarizes loans by type, excluding PCI loans, according to our internal risk ratings for the periods presented. September 30, 2018 Pass Special Substandard (1) Doubtful & Total (Dollars in thousands) Commercial and industrial $ 980,421 $ 33,628 $ 7,857 $ - $ 1,021,906 SBA 345,126 5,469 6,457 - 357,052 Real estate: Commercial real estate Owner occupied 1,931,062 97,990 12,079 - 2,041,131 Non-owner 3,215,070 5,582 6,957 - 3,227,609 Construction Speculative 32,081 - - - 32,081 Non-speculative 91,193 - - - 91,193 SFR mortgage 284,852 4,047 3,617 - 292,516 Dairy & livestock and agribusiness 268,328 26,877 9,393 - 304,598 Municipal lease finance receivables 67,045 536 - - 67,581 Consumer and other loans 132,637 740 1,419 - 134,796 Total gross loans, excluding PCI loans $ 7,347,815 $ 174,869 $ 47,779 $ - $ 7,570,463 (1) Includes $15.1 million of classified loans acquired from CB in the third quarter of 2018. December 31, 2017 Pass Special Substandard Doubtful & Total (Dollars in thousands) Commercial and industrial $ 483,641 $ 19,566 $ 10,118 $ - $ 513,325 SBA 112,835 5,358 3,862 - 122,055 Real estate: Commercial real estate Owner occupied 1,009,199 76,111 10,970 - 1,096,280 Non-owner 2,257,130 16,434 6,869 - 2,280,433 Construction Speculative 60,042 - - - 60,042 Non-speculative 17,940 - - - 17,940 SFR mortgage 229,032 3,124 4,046 - 236,202 Dairy & livestock and agribusiness 321,413 9,047 16,829 - 347,289 Municipal lease finance receivables 69,644 599 - - 70,243 Consumer and other loans 61,715 1,255 1,259 - 64,229 Total gross loans, excluding PCI loans $ 4,622,591 $ 131,494 $ 53,953 $ - $ 4,808,038 |
Schedule of Balance and Activity Related to Allowance for Loan Losses for Held-for-Investment Loans by Type | The following tables present the balance and activity related to the allowance for loan losses for held-for-investment For the Three Months Ended September 30, 2018 Ending Balance Charge-offs Recoveries (Recapture of) Ending Balance (Dollars in thousands) Commercial and industrial $ 6,970 $ - $ 44 $ 477 $ 7,491 SBA 841 (257 ) 5 369 958 Real estate: Commercial real estate 42,597 - - (1,056 ) 41,541 Construction 1,003 - 15 115 1,133 SFR mortgage 2,155 - - (30 ) 2,125 Dairy & livestock and agribusiness 4,351 - - 673 5,024 Municipal lease finance receivables 808 - - 7 815 Consumer and other loans 642 (1 ) 118 (44 ) 715 PCI loans 216 - - (11 ) 205 Total allowance for loan losses $ 59,583 $ (258 ) $ 182 $ 500 $ 60,007 For the Three Months Ended September 30, 2017 Ending Balance Charge-offs Recoveries (Recapture of) Ending Balance (Dollars in thousands) Commercial and industrial $ 8,060 $ (138 ) $ 12 $ 129 $ 8,063 SBA 913 - 5 (54 ) 864 Real estate: Commercial real estate 39,927 - - 943 40,870 Construction 1,059 - 2,055 (2,181 ) 933 SFR mortgage 2,369 - - (49 ) 2,320 Dairy & livestock and agribusiness 5,440 - - (66 ) 5,374 Municipal lease finance receivables 852 - - 54 906 Consumer and other loans 922 (9 ) 5 (48 ) 870 PCI loans 659 - - (228 ) 431 Total allowance for loan losses $ 60,201 $ (147 ) $ 2,077 $ (1,500 ) $ 60,631 For the Nine Months Ended September 30, 2018 Ending Balance Charge-offs Recoveries (Recapture of) Ending Balance (Dollars in thousands) Commercial and industrial $ 7,280 $ - $ 81 $ 130 $ 7,491 SBA 869 (257 ) 15 331 958 Real estate: Commercial real estate 41,722 - - (181 ) 41,541 Construction 984 - 1,945 (1,796 ) 1,133 SFR mortgage 2,112 - - 13 2,125 Dairy & livestock and agribusiness 4,647 - 19 358 5,024 Municipal lease finance receivables 851 - - (36 ) 815 Consumer and other loans 753 (10 ) 129 (157 ) 715 PCI loans 367 - - (162 ) 205 Total allowance for loan losses $ 59,585 $ (267 ) $ 2,189 $ (1,500 ) $ 60,007 For the Nine Months Ended September 30, 2017 Ending Balance Charge-offs Recoveries (Recapture of) Ending Balance (Dollars in thousands) Commercial and industrial $ 8,154 $ (138 ) $ 106 $ (59 ) $ 8,063 SBA 871 - 47 (54 ) 864 Real estate: Commercial real estate 37,443 - 154 3,273 40,870 Construction 1,096 - 5,774 (5,937 ) 933 SFR mortgage 2,287 - 64 (31 ) 2,320 Dairy & livestock and agribusiness 8,541 - 19 (3,186 ) 5,374 Municipal lease finance receivables 941 - - (35 ) 906 Consumer and other loans 988 (11 ) 76 (183 ) 870 PCI loans 1,219 - - (788 ) 431 Total allowance for loan losses $ 61,540 $ (149 ) $ 6,240 $ (7,000 ) $ 60,631 |
Schedule of Recorded Investment in Loans Held-for-Investment and Related Allowance for Loan Losses by Loan Type | The following tables present the recorded investment in loans held-for-investment September 30, 2018 Recorded Investment in Loans Allowance for Loan Losses Individually Collectively Acquired with Individually Collectively Acquired with (Dollars in thousands) Commercial and industrial $ 3,168 $ 1,018,738 $ - $ - $ 7,491 $ - SBA 3,593 353,459 - - 958 - Real estate: Commercial real estate 6,348 5,262,392 - - 41,541 - Construction - 123,274 - - 1,133 - SFR mortgage 5,492 287,024 - 13 2,112 - Dairy & livestock and agribusiness 775 303,823 - - 5,024 - Municipal lease finance receivables - 67,581 - - 815 - Consumer and other loans 807 133,989 - 70 645 - PCI loans - - 17,260 - - 205 Total $ 20,183 $ 7,550,280 $ 17,260 $ 83 $ 59,719 $ 205 September 30, 2017 Recorded Investment in Loans Allowance for Loan Losses Individually Collectively Acquired with Individually Collectively Acquired with (Dollars in thousands) Commercial and industrial $ 745 $ 527,914 $ - $ 2 $ 8,061 $ - SBA 2,273 121,818 - 3 861 - Real estate: Commercial real estate 8,168 3,324,349 - - 40,870 - Construction - 74,148 - - 933 - SFR mortgage 4,550 240,112 - - 2,320 - Dairy & livestock and agribusiness 829 269,653 - - 5,374 - Municipal lease finance receivables - 71,352 - - 906 - Consumer and other loans 743 69,672 - 83 787 - PCI loans - - 36,548 - - 431 Total $ 17,308 $ 4,699,018 $ 36,548 $ 88 $ 60,112 $ 431 |
Schedule of Recorded Investment in, and Aging of, Past Due and Nonaccrual Loans, Excluding PCI Loans by Class of Loans | The following tables present the recorded investment in, and the aging of, past due and nonaccrual loans, excluding PCI loans, by type of loans for the periods presented. September 30, 2018 30-59 Days 60-89 Days Total Past Due Nonaccrual (1) (3) Current Total Loans (Dollars in thousands) Commercial and industrial $ 274 $ - $ 274 $ 3,026 $ 1,018,606 $ 1,021,906 SBA - 123 123 3,005 353,924 357,052 Real estate: Commercial real estate Owner occupied - - - 615 2,040,516 2,041,131 Non-owner - - - 5,241 3,222,368 3,227,609 Construction Speculative (2) - - - - 32,081 32,081 Non-speculative - - - - 91,193 91,193 SFR mortgage - - - 2,961 289,555 292,516 Dairy & livestock and agribusiness - - - 775 303,823 304,598 Municipal lease finance receivables - - - - 67,581 67,581 Consumer and other loans 98 - 98 807 133,891 134,796 Total gross loans, excluding PCI loans $ 372 $ 123 $ 495 $ 16,430 $ 7,553,538 $ 7,570,463 (1) As of September 30, 2018, $2.6 million of nonaccruing loans were current, $562,000 were 30-59 60-89 (2) Speculative construction loans are generally for properties where there is no identified buyer or renter. (3) Includes $8.6 million of nonaccrual loans acquired from CB in the third quarter of 2018. December 31, 2017 30-59 Days 60-89 Days Total Past Due Nonaccrual (1) Current Total Loans (Dollars in thousands) Commercial and industrial $ 768 $ - $ 768 $ 250 $ 512,307 $ 513,325 SBA 403 - 403 906 120,746 122,055 Real estate: Commercial real estate Owner occupied - - - 4,365 1,091,915 1,096,280 Non-owner - - - 2,477 2,277,956 2,280,433 Construction Speculative (2) - - - - 60,042 60,042 Non-speculative - - - - 17,940 17,940 SFR mortgage - - - 1,337 234,865 236,202 Dairy & livestock and agribusiness - - - 829 346,460 347,289 Municipal lease finance receivables - - - - 70,243 70,243 Consumer and other loans 1 - 1 552 63,676 64,229 Total gross loans, excluding PCI loans $ 1,172 $ - $ 1,172 $ 10,716 $ 4,796,150 $ 4,808,038 (1) As of December 31, 2017, $3.6 million of nonaccruing loans were current, $376,000 were 60-89 (2) Speculative construction loans are generally for properties where there is no identified buyer or renter. |
Schedule of Held-for-Investment Loans, Excluding PCI Loans, Individually Evaluated for Impairment by Class of Loans | The following tables present information for held-for-investment As of and For the Nine Months Ended September 30, 2018 Recorded Unpaid Related Average Interest (Dollars in thousands) With no related allowance recorded: Commercial and industrial $ 3,168 $ 3,829 $ - $ 3,439 $ 6 SBA 3,593 5,779 - 4,457 34 Real estate: Commercial real estate Owner occupied 615 726 - 644 - Non-owner 5,733 6,385 - 5,904 24 Construction Speculative - - - - - Non-speculative - - - - - SFR mortgage 5,479 6,449 - 5,679 59 Dairy & livestock and agribusiness 775 1,091 - 808 - Municipal lease finance receivables - - - - - Consumer and other loans 737 1,025 - 867 - Total 20,100 25,284 - 21,798 123 With a related allowance recorded: Commercial and industrial - - - - - SBA - - - - - Real estate: Commercial real estate Owner occupied - - - - - Non-owner - - - - - Construction Speculative - - - - - Non-speculative - - - - - SFR mortgage 13 13 13 13 - Dairy & livestock and agribusiness - - - - - Municipal lease finance receivables - - - - - Consumer and other loans 70 101 70 85 - Total 83 114 83 98 - Total impaired loans $ 20,183 $ 25,398 $ 83 $ 21,896 $ 123 As of and For the Nine Months Ended September 30, 2017 Recorded Unpaid Related Average Interest (Dollars in thousands) With no related allowance recorded: Commercial and industrial $ 726 $ 1,256 $ - $ 870 $ 15 SBA 2,270 2,573 - 2,489 38 Real estate: Commercial real estate Owner occupied 4,313 4,625 - 4,361 42 Non-owner 3,855 5,155 - 4,010 72 Construction Speculative - - - - - Non-speculative - - - - - SFR mortgage 4,550 5,345 - 4,620 109 Dairy & livestock and agribusiness 829 1,091 - 1,035 1 Municipal lease finance receivables - - - - - Consumer and other loans 356 571 - 381 - Total 16,899 20,616 - 17,766 277 With a related allowance recorded: Commercial and industrial 19 20 2 42 1 SBA 3 20 3 7 - Real estate: Commercial real estate Owner occupied - - - - - Non-owner - - - - - Construction Speculative - - - - - Non-speculative - - - - - SFR mortgage - - - - - Dairy & livestock and agribusiness - - - - - Municipal lease finance receivables - - - - - Consumer and other loans 387 394 83 390 - Total 409 434 88 439 1 Total impaired loans $ 17,308 $ 21,050 $ 88 $ 18,205 $ 278 As of December 31, 2017 Recorded Unpaid Related (Dollars in thousands) With no related allowance recorded: Commercial and industrial $ 440 $ 980 $ - SBA 1,530 1,699 - Real estate: Commercial real estate Owner occupied 4,365 4,763 - Non-owner 3,768 5,107 - Construction Speculative - - - Non-speculative - - - SFR mortgage 4,040 4,692 - Dairy & livestock and agribusiness 829 1,091 - Municipal lease finance receivables - - - Consumer and other loans 174 370 - Total 15,146 18,702 - With a related allowance recorded: Commercial and industrial - - - SBA 1 18 1 Real estate: Commercial real estate Owner occupied - - - Non-owner - - - Construction Speculative - - - Non-speculative - - - SFR mortgage - - - Dairy & livestock and agribusiness - - - Municipal lease finance receivables - - - Consumer and other loans 378 391 74 Total 379 409 75 Total impaired loans $ 15,525 $ 19,111 $ 75 |
Summary of Activity Related to Troubled Debt Restructurings | The following table provides a summary of the activity related to TDRs for the periods presented. For the Three Months Ended For the Nine Months Ended 2018 2017 2018 2017 (Dollars in thousands) Performing TDRs: Beginning balance $ 4,530 $ 16,574 $ 4,809 $ 19,233 New modifications - - 311 3,143 Payoffs/payments, net and other (777 ) (10,839 ) (1,367 ) (13,826 ) TDRs returned to accrual status - - - 329 TDRs placed on nonaccrual status - - - (3,144 ) Ending balance $ 3,753 $ 5,735 $ 3,753 $ 5,735 Nonperforming TDRs: Beginning balance $ 3,892 $ 4,391 $ 4,200 $ 1,626 New modifications 278 - 316 2,066 Charge-offs - - - - Payoffs/payments, net and other (650 ) (81 ) (996 ) (2,197 ) TDRs returned to accrual status - - - (329 ) TDRs placed on nonaccrual status - - - 3,144 Ending balance $ 3,520 $ 4,310 $ 3,520 $ 4,310 Total TDRs $ 7,273 $ 10,045 $ 7,273 $ 10,045 |
Summary of Loans Modified as Troubled Debt Restructurings | The following table summarizes loans modified as troubled debt restructurings for the period presented. Modifications (1) For the Three Months Ended September 30, 2018 Number of Pre-Modification Post-Modification Outstanding Investment at Financial Effect (Dollars in thousands) Commercial and industrial: Interest rate reduction - $ - $ - $ - $ - Change in amortization period or maturity - - - - - Real estate: Commercial real estate: Owner occupied Interest rate reduction - - - - - Change in amortization period or maturity - - - - - Non-owner Interest rate reduction - - - - - Change in amortization period or maturity - - - - - SFR mortgage: Interest rate reduction - - - - - Change in amortization period or maturity - - - - - Dairy & livestock and agribusiness: Interest rate reduction - - - - - Change in amortization period or maturity - - - - - Consumer: Interest rate reduction - - - - - Change in amortization period or maturity 1 278 278 272 - Total loans 1 $ 278 $ 278 $ 272 $ - For the Three Months Ended September 30, 2017 Number of Pre-Modification Post-Modification Outstanding Financial Effect (Dollars in thousands) Commercial and industrial: Interest rate reduction - $ - $ - $ - $ - Change in amortization period or maturity - - - - - Real estate: Commercial real estate: Owner occupied Interest rate reduction - - - - - Change in amortization period or maturity - - - - - Non-owner Interest rate reduction - - - - - Change in amortization period or maturity - - - - - SFR mortgage: Interest rate reduction - - - - - Change in amortization period or maturity - - - - - Dairy & livestock and agribusiness: Interest rate reduction - - - - - Change in amortization period or maturity - - - - - Consumer: Interest rate reduction - - - - - Change in amortization period or maturity - - - - - Total loans - $ - $ - $ - $ - For the Nine Months Ended September 30, 2018 Number of Pre-Modification Post-Modification Outstanding Investment at Financial Effect (Dollars in thousands) Commercial and industrial: Interest rate reduction - $ - $ - $ - $ - Change in amortization period or maturity 1 38 38 27 - Real estate: Commercial real estate: Owner occupied Interest rate reduction - - - - - Change in amortization period or maturity - - - - - Non-owner Interest rate reduction - - - - - Change in amortization period or maturity - - - - - SFR mortgage: Interest rate reduction - - - - - Change in amortization period or maturity 1 311 311 304 - Dairy & livestock and agribusiness: Interest rate reduction - - - - - Change in amortization period or maturity - - - - - Consumer: Interest rate reduction - - - - - Change in amortization period or maturity 1 278 278 272 - Total loans 3 $ 627 $ 627 $ 603 $ - For the Nine Months Ended September 30, 2017 Number of Pre-Modification Outstanding Post-Modification Outstanding Recorded Investment Outstanding Recorded Investment at September 30, 2017 Financial Effect Resulting From Modifications (2) (Dollars in thousands) Commercial and industrial: Interest rate reduction - $ - $ - $ - $ - Change in amortization period or maturity - - - - - Real estate: Commercial real estate: Owner occupied Interest rate reduction - - - - - Change in amortization period or maturity 1 3,143 3,143 3,143 - Non-owner Interest rate reduction - - - - - Change in amortization period or maturity - - - - - SFR mortgage: Interest rate reduction - - - - - Change in amortization period or maturity - - - - - Dairy & livestock and agribusiness: Interest rate reduction - - - - - Change in amortization period or maturity 1 1,984 1,984 78 - Consumer: Interest rate reduction - - - - - Change in amortization period or maturity 1 82 82 76 - Total loans 3 $ 5,209 $ 5,209 $ 3,297 $ - (1) The tables above exclude modified loans that were paid off prior to the end of the period. (2) Financial effects resulting from modifications represent charge-offs and specific allowance recorded at modification date. |
Earnings Per Share Reconcilia_2
Earnings Per Share Reconciliation (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Earnings Per Share [Abstract] | |
Schedule of Earnings Per Common Share Reconciliation | The table below shows earnings per common share and diluted earnings per common share, and reconciles the numerator and denominator of both earnings per common share calculations. For the Three Months Ended September 30, For the Nine Months Ended 2018 2017 2018 2017 (In thousands, except per share amounts) Earnings per common share: Net earnings $ 38,558 $ 29,683 $ 108,844 $ 86,560 Less: Net earnings allocated to restricted stock 96 107 298 325 Net earnings allocated to common shareholders $ 38,462 $ 29,576 $ 108,546 $ 86,235 Weighted average shares outstanding 126,574 109,754 115,533 109,280 Basic earnings per common share $ 0.30 $ 0.27 $ 0.94 $ 0.79 Diluted earnings per common share: Net income allocated to common shareholders 38,462 29,576 108,546 86,235 Weighted average shares outstanding 126,574 109,754 115,533 109,280 Incremental shares from assumed exercise of outstanding options 363 365 397 392 Diluted weighted average shares outstanding 126,937 110,119 115,930 109,672 Diluted earnings per common share $ 0.30 $ 0.27 $ 0.94 $ 0.79 |
Fair Value Information (Tables)
Fair Value Information (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Fair Value Disclosures [Abstract] | |
Assets and Liabilities Measured at Fair Value on a Recurring Basis | Assets and Liabilities Measured at Fair Value on a Recurring Basis The tables below present the balances of assets and liabilities measured at fair value on a recurring basis for the periods presented. Carrying Value at Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) (Dollars in thousands) Description of assets Investment securities - AFS: Residential mortgage-backed securities $ 1,532,878 $ - $ 1,532,878 $ - CMO/REMIC - residential 223,817 - 223,817 - Municipal bonds 48,739 - 48,739 - Other securities 797 - 797 - Total investment securities - AFS 1,806,231 - 1,806,231 - Interest rate swaps 944 - 944 - Total assets $ 1,807,175 $ - $ 1,807,175 $ - Description of liability Interest rate swaps $ 944 $ - $ 944 $ - Total liabilities $ 944 $ - $ 944 $ - Carrying Value at Quoted Prices in Significant Other Significant (Dollars in thousands) Description of assets Investment securities - AFS: Residential mortgage-backed securities $ 1,750,909 $ - $ 1,750,909 $ - CMO/REMIC - residential 273,829 - 273,829 - Municipal bonds 55,496 - 55,496 - Other securities 751 - 751 - Total investment securities - AFS 2,080,985 - 2,080,985 - Interest rate swaps 3,211 - 3,211 - Total assets $ 2,084,196 $ - $ 2,084,196 $ - Description of liability Interest rate swaps $ 3,211 $ - $ 3,211 $ - Total liabilities $ 3,211 $ - $ 3,211 $ - |
Assets and Liabilities Measured at Fair Value on Non-Recurring Basis | The following tables provide the level of valuation assumptions used to determine each adjustment and the carrying value of the related assets that had losses during the period. Carrying Value at Quoted Prices in Significant Other Significant Total Losses (Dollars in thousands) Description of assets Impaired loans, excluding PCI loans: Commercial and industrial $ - $ - $ - $ - $ - SBA - - - - - Real estate: Commercial real estate - - - - - Construction - - - - - SFR mortgage 13 - - 13 13 Dairy & livestock and agribusiness - - - - - Consumer and other loans 1 - - 1 1 Other real estate owned - - - - - Asset held-for-sale - - - - - Total assets $ 14 $ - $ - $ 14 $ 14 Carrying Value at Quoted Prices in Significant Other Significant Total Losses For the Year Ended (Dollars in thousands) Description of assets Impaired loans, excluding PCI loans: Commercial and industrial $ - $ - $ - $ - $ - SBA - - - - - Real estate: Commercial real estate - - - - - Construction - - - - - SFR mortgage - - - - - Dairy & livestock and agribusiness - - - - - Consumer and other loans 378 - - 378 74 Other real estate owned - - - - - Asset held-for-sale - - - - - Total assets $ 378 $ - $ - $ 378 $ 74 |
Estimated Fair Value of Financial Instruments | The use of different market assumptions and/or estimation methodologies may have a material effect on the estimated fair value amounts. September 30, 2018 Estimated Fair Value Carrying Level 1 Level 2 Level 3 Total (Dollars in thousands) Assets Total cash and cash equivalents $ 194,475 $ 194,475 $ - $ - $ 194,475 Interest-earning balances due from depository institutions 8,812 - 8,723 - 8,723 Investment securities available-for-sale 1,806,231 - 1,806,231 - 1,806,231 Investment securities held-to-maturity 759,029 - 726,755 - 726,755 Total loans, net of allowance for loan losses (1) 7,522,452 - - 7,218,542 7,218,542 Swaps 944 - 944 - 944 Liabilities Deposits: Interest-bearing $ 3,885,672 $ - $ 3,875,171 $ - $ 3,875,171 Borrowings 429,477 - 429,092 - 429,092 Junior subordinated debentures 25,774 - - 21,218 21,218 Swaps 944 - 944 - 944 (1) The fair value of loans as of September 30, 2018 was measured using an exit price notion. December 31, 2017 Estimated Fair Value Carrying Level 1 Level 2 Level 3 Total (Dollars in thousands) Assets Total cash and due from banks $ 144,377 $ 144,377 $ - $ - $ 144,377 Interest-earning balances due from depository institutions 17,952 - 17,951 - 17,951 FHLB stock 17,688 - 17,688 - 17,688 Investment securities available-for-sale 2,080,985 - 2,080,985 - 2,080,985 Investment securities held-to-maturity 829,890 - 819,215 - 819,215 Total loans, net of allowance for loan losses 4,771,046 - - 4,678,402 4,678,402 Swaps 3,211 - 3,211 - 3,211 Liabilities Deposits: Noninterest-bearing $ 3,846,436 $ 3,846,436 $ - $ - $ 3,846,436 Interest-bearing 2,700,417 - 2,697,781 - 2,697,781 Borrowings 553,773 - 553,416 - 553,416 Junior subordinated debentures 25,774 - - 18,070 18,070 Swaps 3,211 - 3,211 - 3,211 |
Derivative Financial Instrume_2
Derivative Financial Instruments (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Fair Value of Derivative Instruments | As of September 30, 2018 and December 31, 2017, the total notional amount of the Company’s swaps was $204.1 million, and $198.5 million, respectively. The location of the asset and liability, and their respective fair values are summarized in the tables below. September 30, 2018 Asset Derivatives Liability Derivatives Balance Sheet Fair Balance Sheet Fair (Dollars in thousands) Derivatives not designated as hedging instruments: Interest rate swaps Other assets $ 944 Other liabilities $ 944 Total derivatives $ 944 $ 944 December 31, 2017 Asset Derivatives Liability Derivatives Balance Sheet Fair Balance Sheet Fair (Dollars in thousands) Derivatives not designated as hedging instruments: Interest rate swaps Other assets $ 3,211 Other liabilities $ 3,211 Total derivatives $ 3,211 $ 3,211 |
Effect of Derivative Instruments on Consolidated Statement of Earnings | The following table summarizes the effect of derivative financial instruments on the condensed consolidated statement of earnings for the periods presented. Derivatives Not Designated as Hedging Instruments Location of Gain Recognized in Amount of Gain Recognized in Income on Derivative Instruments For the Three Months Ended For the Nine Months Ended 2018 2017 2018 2017 (Dollars in thousands) Interest rate swaps Other income $ 73 $ 198 $ 340 $ 592 Total $ 73 $ 198 $ 340 $ 592 |
Other Comprehensive Income (Tab
Other Comprehensive Income (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Equity [Abstract] | |
Summary of Components of Other Comprehensive Income | The table below provides a summary of the components of other comprehensive income (“OCI”) for the periods presented. For the Three Months Ended September 30, 2018 2017 Before-tax Tax effect After-tax Before-tax Tax effect After-tax (Dollars in thousands) Investment securities: Net change in fair value recorded in accumulated OCI $ (10,235 ) $ 3,025 $ (7,210 ) $ 2,083 $ (875 ) $ 1,208 Amortization of unrealized gains (losses) on securities transferred from available-for-sale held-to-maturity (152 ) 45 (107 ) (862 ) 362 (500 ) Net realized gain reclassified into earnings (1) - - - - - - Net change $ (10,387 ) $ 3,070 $ (7,317 ) $ 1,221 $ (513 ) $ 708 For the Nine Months Ended September 30, 2018 2017 Before-tax Tax effect After-tax Before-tax Tax effect After-tax (Dollars in thousands) Investment securities: Net change in fair value recorded in accumulated OCI $ (47,346 ) $ 13,997 $ (33,349 ) $ 6,128 $ (2,574 ) $ 3,554 Amortization of unrealized gains (losses) on securities transferred from available-for-sale held-to-maturity (1,809 ) 535 (1,274 ) (2,841 ) 1,193 (1,648 ) Net realized gain reclassified into earnings (1) - - - (402 ) 169 (233 ) Net change $ (49,155 ) $ 14,532 $ (34,623 ) $ 2,885 $ (1,212 ) $ 1,673 (1) Included in other noninterest income. |
Balance Sheet Offsetting (Table
Balance Sheet Offsetting (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Text Block [Abstract] | |
Schedule of Balance Sheet Offsetting | The repurchase agreements are not offset in the condensed consolidated balances. Gross Amounts Consolidated Gross Amounts Consolidated Net Amounts of Consolidated Gross Amounts Not Offset in the Financial Collateral Balance Sheets Balance Sheets Balance Sheets Instruments Pledged Net Amount (Dollars in thousands) September 30, 2018 Financial assets: Derivatives not designated as hedging instruments $ 944 $ - $ - $ 944 $ - $ 944 Total $ 944 $ - $ - $ 944 $ - $ 944 Financial liabilities: Derivatives not designated as hedging instruments $ 6,797 $ (5,853 ) $ 944 $ 5,853 $ - $ 6,797 Repurchase agreements 399,477 - 399,477 - (441,848 ) (42,371 ) Total $ 406,274 $ (5,853 ) $ 400,421 $ 5,853 $ (441,848 ) $ (35,574 ) December 31, 2017 Financial assets: Derivatives not designated as hedging instruments $ 3,211 $ - $ - $ 3,211 $ - $ 3,211 Total $ 3,211 $ - $ - $ 3,211 $ - $ 3,211 Financial liabilities: Derivatives not designated as hedging instruments $ 4,495 $ (1,284 ) $ 3,211 $ 1,284 $ (12,760 ) $ (8,265 ) Repurchase agreements 553,773 - 553,773 - (573,759 ) (19,986 ) Total $ 558,268 $ (1,284 ) $ 556,984 $ 1,284 $ (586,519 ) $ (28,251 ) |
Revenue Recognition (Tables)
Revenue Recognition (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Revenue from Contract with Customer [Abstract] | |
Summary of Non Interest Income, Segregated by Revenue Streams in-Scope and Out-of-Scope of Topic 606 | The following presents noninterest income, segregated by revenue streams in-scope out-of-scope For the Three Months Ended For the Nine Months Ended September 30, September 30, 2018 2017 2018 2017 (Dollars in thousands) Noninterest income: In-scope Service charges on deposit accounts $ 4,295 $ 4,085 $ 12,431 $ 11,794 Trust and investment services 2,182 2,523 6,738 7,432 Bankcard services 875 927 2,637 2,563 Gain on OREO, net - 2 3,540 4 Other 1,824 1,267 4,393 3,895 Noninterest Income (in-scope 9,176 8,804 29,739 25,688 Noninterest Income (out-of-scope 936 1,234 2,984 3,848 Total noninterest income $ 10,112 $ 10,038 $ 32,723 $ 29,536 |
Business - Additional Informati
Business - Additional Information (Detail) $ in Millions | Sep. 30, 2018LocationSubsidiary | Aug. 10, 2018USD ($) |
Schedule Of Description Of Company [Line Items] | ||
Number of inactive subsidiaries | Subsidiary | 1 | |
Bank operated banking centers | 68 | |
Bank operated trust office locations, number | 3 | |
Community Bank [Member] | ||
Schedule Of Description Of Company [Line Items] | ||
Bank operated banking centers | 16 | |
Total assets | $ | $ 4,090 |
Summary of Significant Accoun_2
Summary of Significant Accounting Policies - Additional Information (Detail) $ in Thousands | 3 Months Ended | 9 Months Ended |
Mar. 31, 2018USD ($) | Sep. 30, 2018USD ($)Segment | |
Summary Of Significant Accounting Policies [Line Items] | ||
Number of operating business segments | Segment | 1 | |
Operating lease right of use asset | $ 20,000 | |
Operating lease right of use liability | 15,000 | |
Accumulated Other Comprehensive Income (Loss) [Member] | ||
Summary Of Significant Accounting Policies [Line Items] | ||
Cumulative adjustment upon adoption of ASU 2018-02 | $ 356 | $ 356 |
Business Combinations - Additio
Business Combinations - Additional Information (Detail) | Aug. 10, 2018USD ($)Branch | Mar. 10, 2017USD ($)Branch | Sep. 30, 2018USD ($) | Sep. 30, 2017USD ($) | Sep. 30, 2018USD ($) | Sep. 30, 2017USD ($) | Dec. 31, 2017USD ($) |
Business Acquisition [Line Items] | |||||||
Acquisition date | Oct. 16, 2009 | ||||||
Goodwill | $ 662,888,000 | $ 662,888,000 | $ 116,564,000 | ||||
Merger related expenses | 6,645,000 | $ 250,000 | $ 7,942,000 | $ 2,176,000 | |||
Valley Commerce Bancorp [Member] | |||||||
Business Acquisition [Line Items] | |||||||
Acquisition date | Mar. 10, 2017 | ||||||
Acquired assets and assumed liabilities for cash | $ 23,200,000 | ||||||
Assets and assumed all of the liabilities, stock | 37,600,000 | ||||||
Goodwill | 27,000,000 | ||||||
Business combination, recognized identifiable assets acquired and liabilities assumed, intangible assets, other than goodwill | 3,200,000 | ||||||
Merger related expenses | $ 250,000 | $ 0 | $ 2,200,000 | ||||
Total fair value of assets acquired | 405,900,000 | ||||||
Cash and cash equivalents | 28,300,000 | ||||||
FHLB stock | 2,000,000 | ||||||
Loans and lease finance receivables | 309,700,000 | ||||||
Fixed assets | 5,300,000 | ||||||
Bank-Owned Life Insurance | 9,400,000 | ||||||
Other assets | 21,000,000 | ||||||
Total fair value of liabilities assumed | 368,300,000 | ||||||
Deposits | 361,800,000 | ||||||
Other liabilities | $ 6,500,000 | ||||||
Valley Business Bank [Member] | |||||||
Business Acquisition [Line Items] | |||||||
Number of branches owned by merger company | Branch | 4 | ||||||
Community Bank [Member] | |||||||
Business Acquisition [Line Items] | |||||||
Acquisition date | Aug. 10, 2018 | ||||||
Number of branches owned by merger company | Branch | 16 | ||||||
Acquired assets and assumed liabilities for cash | $ 180,719,000 | ||||||
Assets and assumed all of the liabilities, stock | 722,800,000 | ||||||
Goodwill | 546,324,000 | ||||||
Business combination, recognized identifiable assets acquired and liabilities assumed, intangible assets, other than goodwill | $ 52,200,000 | ||||||
Percentage of core deposits to total deposits | 2.26% | ||||||
Merger related expenses | $ 6,600,000 | $ 7,900,000 | |||||
Total fair value of assets acquired | $ 3,719,911,000 | ||||||
Cash and cash equivalents | 47,802,000 | ||||||
FHLB stock | 17,250,000 | ||||||
Loans and lease finance receivables | 2,734,081,000 | ||||||
Bank-Owned Life Insurance | 70,904,000 | ||||||
Other assets | 58,130,000 | ||||||
Total fair value of liabilities assumed | 357,162,000 | ||||||
Deposits | 2,869,986,000 | ||||||
Other liabilities | $ 29,192,000 |
Business Combinaions - Schedule
Business Combinaions - Schedule of Recognized Identified Assets Acquired and Liabilities Assumed (Detail) - USD ($) shares in Thousands, $ in Thousands | Aug. 10, 2018 | Sep. 30, 2018 | Dec. 31, 2017 |
Liabilities assumed | |||
Goodwill | $ 662,888 | $ 116,564 | |
Community Bank [Member] | |||
Merger Consideration | |||
Cash paid | $ 180,719 | ||
CVBF common stock issued | 722,767 | ||
Total merger consideration | $ 903,486 | ||
Identifiable net assets acquired, at fair value | |||
Cash and cash equivalents | 47,802 | ||
Investment securities | 716,996 | ||
FHLB stock | 17,250 | ||
Loans | 2,734,081 | ||
Accrued interest receivable | 7,916 | ||
Premises and equipment | 14,632 | ||
BOLI | 70,904 | ||
Core deposit intangible | 52,200 | ||
Other assets | 58,130 | ||
Total assets acquired | 3,719,911 | ||
Liabilities assumed | |||
Deposits | 2,869,986 | ||
FHLB advances | 297,571 | ||
Other borrowings | 166,000 | ||
Other liabilities | 29,192 | ||
Total liabilities assumed | 3,362,749 | ||
Total fair value of identifiable net assets, at fair value | 357,162 | ||
Goodwill | $ 546,324 |
Business Combinations - Busines
Business Combinations - Business Acquisition Pro Forma Information (Detail) - Community Bank [Member] - USD ($) $ / shares in Units, $ in Thousands | 9 Months Ended | |
Sep. 30, 2018 | Sep. 30, 2017 | |
Business Acquisitions Pro Forma Information [Line Items] | ||
Total revenues (net interest income plus noninterest income) | $ 364,846 | $ 354,990 |
Net Income | $ 138,274 | $ 118,419 |
Earnings per share-basic | $ 0.99 | $ 0.85 |
Earnings per share-diluted | $ 0.99 | $ 0.85 |
Investment Securities - Summary
Investment Securities - Summary of Amortized Cost and Estimated Fair Value of Investment Securities (Detail) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
Schedule of Investments [Line Items] | ||
Amortized Cost, Available-for-sale | $ 1,850,723 | $ 2,078,131 |
Gross Unrealized Holding Gain, Available-for-sale | 1,474 | 13,282 |
Gross Unrealized Holding Loss, Available-for-sale | (45,966) | (10,428) |
Fair Value, Available-for-sale | $ 1,806,231 | $ 2,080,985 |
Total Percent, Available-for-sale | 100.00% | 100.00% |
Amortized Cost, Held-to-maturity | $ 759,029 | $ 829,890 |
Gross Unrealized Holding Gain, Held-to-maturity | 225 | 4,272 |
Gross Unrealized Holding Loss, Held-to-maturity | (32,499) | (14,947) |
Fair Value, Held-to-maturity | $ 726,755 | $ 819,215 |
Total Percent, Held-to-maturity | 100.00% | 100.00% |
CMO/REMIC - Residential [Member] | ||
Schedule of Investments [Line Items] | ||
Amortized Cost, Available-for-sale | $ 229,832 | $ 274,634 |
Gross Unrealized Holding Gain, Available-for-sale | 152 | 1,277 |
Gross Unrealized Holding Loss, Available-for-sale | (6,167) | (2,082) |
Fair Value, Available-for-sale | $ 223,817 | $ 273,829 |
Total Percent, Available-for-sale | 12.39% | 13.16% |
Amortized Cost, Held-to-maturity | $ 216,980 | $ 225,072 |
Gross Unrealized Holding Gain, Held-to-maturity | 0 | 0 |
Gross Unrealized Holding Loss, Held-to-maturity | (13,960) | (8,641) |
Fair Value, Held-to-maturity | $ 203,020 | $ 216,431 |
Total Percent, Held-to-maturity | 28.58% | 27.12% |
Government Agency/GSE [Member] | ||
Schedule of Investments [Line Items] | ||
Amortized Cost, Held-to-maturity | $ 144,871 | $ 159,716 |
Gross Unrealized Holding Gain, Held-to-maturity | 0 | 854 |
Gross Unrealized Holding Loss, Held-to-maturity | (5,129) | (2,134) |
Fair Value, Held-to-maturity | $ 139,742 | $ 158,436 |
Total Percent, Held-to-maturity | 19.09% | 19.25% |
Residential Mortgage-backed Securities [Member] | ||
Schedule of Investments [Line Items] | ||
Amortized Cost, Available-for-sale | $ 1,570,072 | $ 1,747,780 |
Gross Unrealized Holding Gain, Available-for-sale | 1,014 | 11,231 |
Gross Unrealized Holding Loss, Available-for-sale | (38,208) | (8,102) |
Fair Value, Available-for-sale | $ 1,532,878 | $ 1,750,909 |
Total Percent, Available-for-sale | 84.87% | 84.14% |
Amortized Cost, Held-to-maturity | $ 158,769 | $ 176,427 |
Gross Unrealized Holding Gain, Held-to-maturity | 0 | 667 |
Gross Unrealized Holding Loss, Held-to-maturity | (5,502) | (382) |
Fair Value, Held-to-maturity | $ 153,267 | $ 176,712 |
Total Percent, Held-to-maturity | 20.92% | 21.26% |
Municipal Bonds [Member] | ||
Schedule of Investments [Line Items] | ||
Amortized Cost, Available-for-sale | $ 50,022 | $ 54,966 |
Gross Unrealized Holding Gain, Available-for-sale | 308 | 774 |
Gross Unrealized Holding Loss, Available-for-sale | (1,591) | (244) |
Fair Value, Available-for-sale | $ 48,739 | $ 55,496 |
Total Percent, Available-for-sale | 2.70% | 2.66% |
Amortized Cost, Held-to-maturity | $ 238,409 | $ 268,675 |
Gross Unrealized Holding Gain, Held-to-maturity | 225 | 2,751 |
Gross Unrealized Holding Loss, Held-to-maturity | (7,908) | (3,790) |
Fair Value, Held-to-maturity | $ 230,726 | $ 267,636 |
Total Percent, Held-to-maturity | 31.41% | 32.37% |
Other Securities [Member] | ||
Schedule of Investments [Line Items] | ||
Amortized Cost, Available-for-sale | $ 797 | $ 751 |
Gross Unrealized Holding Gain, Available-for-sale | 0 | 0 |
Gross Unrealized Holding Loss, Available-for-sale | 0 | 0 |
Fair Value, Available-for-sale | $ 797 | $ 751 |
Total Percent, Available-for-sale | 0.04% | 0.04% |
Investment Securities - Summa_2
Investment Securities - Summary of Interest Income Earned on Investment Securities (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Net Investment Income [Line Items] | ||||
Total interest income from available-for-sale securities | $ 11,521 | $ 12,240 | $ 35,086 | $ 37,887 |
Total interest income from held-to-maturity securities | 4,666 | 5,184 | 14,238 | 16,014 |
Total investment income | 16,187 | 17,424 | 49,324 | 53,901 |
Investment securities available-for-sale [Member] | ||||
Net Investment Income [Line Items] | ||||
Taxable | 11,126 | 11,767 | 33,861 | 36,113 |
Tax-advantaged | 395 | 473 | 1,225 | 1,774 |
Investment securities held-to-maturity [Member] | ||||
Net Investment Income [Line Items] | ||||
Taxable | 2,961 | 3,111 | 8,887 | 9,591 |
Tax-advantaged | $ 1,705 | $ 2,073 | $ 5,351 | $ 6,423 |
Investment Securities - Additio
Investment Securities - Additional Information (Detail) - USD ($) | Sep. 30, 2018 | Dec. 31, 2017 |
Debt Securities, Available-for-sale [Line Items] | ||
Investment securities pledged as collateral | $ 1,600,000,000 | $ 1,910,000,000 |
Investment in FHLB stock, impairment losses | $ 0 | |
United States [Member] | ||
Debt Securities, Available-for-sale [Line Items] | ||
Securities issued by U.S. government percentage | 89.00% |
Investment Securities - Summa_3
Investment Securities - Summary of Continuous Unrealized Loss Position of Securities (Detail) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
Schedule of Investments [Line Items] | ||
Fair Value, Less Than 12 Months, Available-for-sale | $ 1,343,756 | $ 510,174 |
Gross Unrealized Holding Losses, Less Than 12 Months, Available-for-sale | (27,917) | (2,319) |
Fair Value, 12 Months or Longer, Available-for-sale | 361,619 | 388,925 |
Gross Unrealized Holding Losses, 12 Months or Longer, Available-for-sale | (18,049) | (8,109) |
Fair Value, Available-for-sale | 1,705,375 | 899,099 |
Gross Unrealized Holding Losses, Available-for-sale | (45,966) | (10,428) |
Fair Value, Less Than 12 Months, Held-to-maturity | 317,204 | 102,316 |
Gross Unrealized Holding Losses, Less Than 12 Months, Held-to-maturity | (7,675) | (707) |
Fair Value, 12 Months or Longer, Held-to-maturity | 363,027 | 381,449 |
Gross Unrealized Holding Losses, 12 Months or Longer, Held-to-maturity | (24,824) | (14,240) |
Fair Value, Held-to-maturity | 680,231 | 483,765 |
Gross Unrealized Holding Losses, Held-to-maturity | (32,499) | (14,947) |
CMO/REMIC - Residential [Member] | ||
Schedule of Investments [Line Items] | ||
Fair Value, Less Than 12 Months, Available-for-sale | 139,064 | 95,137 |
Gross Unrealized Holding Losses, Less Than 12 Months, Available-for-sale | (3,053) | (487) |
Fair Value, 12 Months or Longer, Available-for-sale | 60,925 | 71,223 |
Gross Unrealized Holding Losses, 12 Months or Longer, Available-for-sale | (3,114) | (1,595) |
Fair Value, Available-for-sale | 199,989 | 166,360 |
Gross Unrealized Holding Losses, Available-for-sale | (6,167) | (2,082) |
Fair Value, Less Than 12 Months, Held-to-maturity | 0 | 0 |
Gross Unrealized Holding Losses, Less Than 12 Months, Held-to-maturity | 0 | 0 |
Fair Value, 12 Months or Longer, Held-to-maturity | 203,020 | 216,431 |
Gross Unrealized Holding Losses, 12 Months or Longer, Held-to-maturity | (13,960) | (8,641) |
Fair Value, Held-to-maturity | 203,020 | 216,431 |
Gross Unrealized Holding Losses, Held-to-maturity | (13,960) | (8,641) |
Government Agency/GSE [Member] | ||
Schedule of Investments [Line Items] | ||
Fair Value, Less Than 12 Months, Held-to-maturity | 99,203 | 18,950 |
Gross Unrealized Holding Losses, Less Than 12 Months, Held-to-maturity | (2,326) | (27) |
Fair Value, 12 Months or Longer, Held-to-maturity | 40,539 | 43,495 |
Gross Unrealized Holding Losses, 12 Months or Longer, Held-to-maturity | (2,803) | (2,107) |
Fair Value, Held-to-maturity | 139,742 | 62,445 |
Gross Unrealized Holding Losses, Held-to-maturity | (5,129) | (2,134) |
Residential Mortgage-backed Securities [Member] | ||
Schedule of Investments [Line Items] | ||
Fair Value, Less Than 12 Months, Available-for-sale | 1,193,435 | 414,091 |
Gross Unrealized Holding Losses, Less Than 12 Months, Available-for-sale | (24,475) | (1,828) |
Fair Value, 12 Months or Longer, Available-for-sale | 287,707 | 303,746 |
Gross Unrealized Holding Losses, 12 Months or Longer, Available-for-sale | (13,733) | (6,274) |
Fair Value, Available-for-sale | 1,481,142 | 717,837 |
Gross Unrealized Holding Losses, Available-for-sale | (38,208) | (8,102) |
Fair Value, Less Than 12 Months, Held-to-maturity | 101,083 | 51,297 |
Gross Unrealized Holding Losses, Less Than 12 Months, Held-to-maturity | (3,206) | (188) |
Fair Value, 12 Months or Longer, Held-to-maturity | 52,184 | 55,306 |
Gross Unrealized Holding Losses, 12 Months or Longer, Held-to-maturity | (2,296) | (194) |
Fair Value, Held-to-maturity | 153,267 | 106,603 |
Gross Unrealized Holding Losses, Held-to-maturity | (5,502) | (382) |
Municipal Bonds [Member] | ||
Schedule of Investments [Line Items] | ||
Fair Value, Less Than 12 Months, Available-for-sale | 11,257 | 946 |
Gross Unrealized Holding Losses, Less Than 12 Months, Available-for-sale | (389) | (4) |
Fair Value, 12 Months or Longer, Available-for-sale | 12,987 | 13,956 |
Gross Unrealized Holding Losses, 12 Months or Longer, Available-for-sale | (1,202) | (240) |
Fair Value, Available-for-sale | 24,244 | 14,902 |
Gross Unrealized Holding Losses, Available-for-sale | (1,591) | (244) |
Fair Value, Less Than 12 Months, Held-to-maturity | 116,918 | 32,069 |
Gross Unrealized Holding Losses, Less Than 12 Months, Held-to-maturity | (2,143) | (492) |
Fair Value, 12 Months or Longer, Held-to-maturity | 67,284 | 66,217 |
Gross Unrealized Holding Losses, 12 Months or Longer, Held-to-maturity | (5,765) | (3,298) |
Fair Value, Held-to-maturity | 184,202 | 98,286 |
Gross Unrealized Holding Losses, Held-to-maturity | $ (7,908) | $ (3,790) |
Investment Securities - Summa_4
Investment Securities - Summary of Amortized Cost and Fair Value of Debt Securities by Contractual Maturity (Detail) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
Investments, Debt and Equity Securities [Abstract] | ||
Due in one year or less, Amortized Cost, Held-to-maturity | $ 0 | |
Due after one year through five years, Amortized Cost, Held-to-maturity | 315,036 | |
Due after five years through ten years, Amortized Cost, Held-to-maturity | 172,281 | |
Due after ten years, Amortized Cost, Held-to-maturity | 271,712 | |
Total Held-to-maturity, Debt Maturities, Amortized Cost Basis | 759,029 | |
Due in one year or less, Fair Value, Held-to-maturity | 0 | |
Due after one year through five years, Fair Value, Held-to-maturity | 298,729 | |
Due after five years through ten years, Fair Value, Held-to-maturity | 167,824 | |
Due after ten years, Fair Value, Held-to-maturity | 260,202 | |
Total, Held-to-maturity, Fair Value | 726,755 | |
Due in one year or less, Amortized Cost, Available-for-sale | 19,806 | |
Due after one year through five years, Amortized Cost, Available-for-sale | 1,676,348 | |
Due after five years through ten years, Amortized Cost, Available-for-sale | 113,539 | |
Due after ten years, Amortized Cost, Available-for-sale | 41,030 | |
Amortized Cost, Available-for-sale | 1,850,723 | $ 2,078,131 |
Due in one year or less, Fair Value, Available-for-sale | 19,964 | |
Due after one year through five years, Fair Value, Available-for-sale | 1,637,053 | |
Due after five years through ten years, Fair Value, Available-for-sale | 109,910 | |
Due after ten years, Fair Value, Available-for-sale | 39,304 | |
Total Available-for-sale Securities, Debt Maturities, Available-for-sale, Fair Value | $ 1,806,231 | $ 2,080,985 |
Acquired SJB Assets and FDIC _3
Acquired SJB Assets and FDIC Loss Sharing Asset - Additional Information (Detail) $ in Millions | 9 Months Ended |
Sep. 30, 2018USD ($) | |
Business Combinations [Abstract] | |
Acquisition date | Oct. 16, 2009 |
Remaining discount associated with SJB loans | $ 0 |
Acquired SJB Assets and FDIC _4
Acquired SJB Assets and FDIC Loss Sharing Asset - Summary of PCI Loans and Lease Finance Receivables (Detail) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 | Sep. 30, 2017 |
Real estate: | |||
Less: Purchase accounting discount | $ 0 | ||
Gross PCI loans, net of discount | 17,260 | $ 36,548 | |
Less: Allowance for PCI loan losses | (205) | (431) | |
PCI Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Commercial and industrial | 459 | $ 934 | |
SBA | 1,286 | 1,383 | |
Real estate: | |||
Commercial real estate | 14,979 | 27,431 | |
Construction | 0 | 0 | |
SFR mortgage | 150 | 162 | |
Dairy & livestock and agribusiness | 200 | 770 | |
Municipal lease finance receivables | 0 | 0 | |
Consumer and other loans | 186 | 228 | |
Gross PCI loans | 17,260 | 30,908 | |
Less: Purchase accounting discount | 0 | (2,026) | |
Gross PCI loans, net of discount | 17,260 | 28,882 | 36,548 |
Less: Allowance for PCI loan losses | (205) | (367) | $ (431) |
Net loans | $ 17,055 | $ 28,515 |
Acquired SJB Assets and FDIC _5
Acquired SJB Assets and FDIC Loss Sharing Asset - Summary of Gross PCI Loans by Internal Risk Ratings by Loans (Detail) - PCI Loans [Member] - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total gross PCI loans | $ 17,260 | $ 30,908 |
Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total gross PCI loans | 15,775 | 26,439 |
Special Mention [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total gross PCI loans | 1,251 | 1,088 |
Substandard [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total gross PCI loans | 234 | 3,381 |
Doubtful & Loss [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total gross PCI loans | $ 0 | $ 0 |
Loans and Lease Finance Recei_3
Loans and Lease Finance Receivables and Allowance for Loan Losses - Summary of Components of Loans and Lease Finance Receivables, Excluding PCI Loans (Detail) - USD ($) $ in Thousands | Sep. 30, 2018 | Jun. 30, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Dec. 31, 2016 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Gross loans, excluding PCI loans, net of deferred loan fees | $ 7,582,459 | $ 4,830,631 | ||||
Less: Allowance for loan losses | (60,007) | $ (59,583) | (59,585) | $ (60,631) | $ (60,201) | $ (61,540) |
Total loans and lease finance receivables | 7,522,452 | 4,771,046 | ||||
PCI Loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial and industrial | 459 | 934 | ||||
PCI Loans | 17,260 | 30,908 | ||||
SBA | 1,286 | 1,383 | ||||
Discount on PCI loans | 0 | (2,026) | ||||
Commercial real estate | 14,979 | 27,431 | ||||
Construction | 0 | 0 | ||||
SFR mortgage | 150 | 162 | ||||
Dairy & livestock and agribusiness | 200 | 770 | ||||
Municipal lease finance receivables | 0 | 0 | ||||
Consumer and other loans | 186 | 228 | ||||
Less: Allowance for loan losses | (205) | $ (216) | (367) | $ (431) | $ (659) | $ (1,219) |
Net loans | 17,055 | 28,515 | ||||
Loans, Excluding PCI Loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial and industrial | 1,021,906 | 513,325 | ||||
SBA | 357,052 | 122,055 | ||||
Commercial real estate | 5,268,740 | 3,376,713 | ||||
Construction | 123,274 | 77,982 | ||||
SFR mortgage | 292,516 | 236,202 | ||||
Dairy & livestock and agribusiness | 304,598 | 347,289 | ||||
Municipal lease finance receivables | 67,581 | 70,243 | ||||
Consumer and other loans | 134,796 | 64,229 | ||||
Total gross loans, excluding PCI loans | 7,570,463 | 4,808,038 | ||||
Less: Deferred loan fees, net | (5,264) | (6,289) | ||||
Gross loans, excluding PCI loans, net of deferred loan fees | 7,565,199 | 4,801,749 | ||||
Less: Allowance for loan losses | (59,802) | (59,218) | ||||
Net loans | $ 7,505,397 | $ 4,742,531 |
Loans and Lease Finance Recei_4
Loans and Lease Finance Receivables and Allowance for Loan Losses - Additional Information (Detail) | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2018USD ($)Contract | Sep. 30, 2017USD ($)Contract | Sep. 30, 2018USD ($)ContractSecurityLoan | Sep. 30, 2017USD ($)Contract | Dec. 31, 2017USD ($) | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Total fixed rate loans held | $ 3,700,000,000 | $ 3,700,000,000 | |||
Secure borrowings and available lines of credit from FHLB and Federal Reserve Bank | 5,530,000,000 | 5,530,000,000 | $ 3,680,000,000 | ||
Loans held-for-sale | 0 | 0 | 0 | ||
Impaired, at carrying value | 20,183,000 | $ 17,308,000 | 20,183,000 | $ 17,308,000 | 15,525,000 |
Loans classified as troubled debt restructured | 7,300,000 | 7,300,000 | |||
Impaired, at carrying value | 83,000 | 88,000 | 83,000 | 88,000 | 75,000 |
Provision for unfunded loan commitments | 0 | $ 0 | 0 | $ 0 | |
Reserve for credit risk for undisbursed commitments | 6,300,000 | 6,300,000 | 9,200,000 | ||
Allocation of allowance to troubled debt restructuring | $ 0 | $ 0 | 1,000 | ||
Number of loans modified as a TDR within the previous 12 months that subsequently defaulted | Contract | 0 | 0 | |||
Community Bank [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Provision for unfunded loan commitments | $ 2,900,000 | ||||
Commercial Real Estate Loans [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Percentage of total gross loan portfolio (excluding PCI loans) | 75.09% | 75.09% | |||
Construction [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Percentage of total gross loan portfolio (excluding PCI loans) | 69.60% | 69.60% | |||
Nonaccrual Small Business Administration Loans [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Outstanding balance | $ 3,000,000 | $ 3,000,000 | |||
Dairy & Livestock and Agribusiness [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Outstanding balance | 807,000 | 807,000 | |||
Impaired Loans Modified in Troubled Debt Restructure [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Impaired, at carrying value | 7,300,000 | 7,300,000 | |||
Commercial Real Estate [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Number of loans modified as a TDR within the previous 12 months that subsequently defaulted | Contract | 1 | ||||
Amount of Loan Outstanding | $ 3,100,000 | ||||
Dairy & Livestock and Agribusiness [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Number of loans modified as a TDR within the previous 12 months that subsequently defaulted | Contract | 1 | ||||
Amount of Loan Outstanding | $ 78,000 | ||||
Nonaccrual Single Family Mortgage Loans [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Outstanding balance | 3,000,000 | 3,000,000 | |||
Commercial Real Estate [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Outstanding balance | 5,900,000 | 5,900,000 | |||
Consumer and Other Loans [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Outstanding balance | 775,000 | 775,000 | |||
Performing Financing Receivable [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Impaired, at carrying value | 20,200,000 | 20,200,000 | |||
Loans classified as troubled debt restructured | 3,800,000 | $ 3,800,000 | |||
Number of performing loans | SecurityLoan | 14 | ||||
Performing Financing Receivable [Member] | Commercial Real Estate Loans [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans classified as troubled debt restructured | 492,000 | $ 492,000 | |||
Number of loans | SecurityLoan | 1 | ||||
Performing Financing Receivable [Member] | Single-family Residential Loans [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans classified as troubled debt restructured | 2,500,000 | $ 2,500,000 | |||
Number of loans | SecurityLoan | 10 | ||||
Performing Financing Receivable [Member] | Commercial and Industrial [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans classified as troubled debt restructured | 142,000 | $ 142,000 | |||
Number of loans | SecurityLoan | 2 | ||||
Performing Financing Receivable [Member] | Small Business Administration [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans classified as troubled debt restructured | 588,000 | $ 588,000 | |||
Number of loans | SecurityLoan | 1 | ||||
Nonperforming Financing Receivable [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Impaired, at carrying value | 3,500,000 | $ 3,500,000 | |||
Loans classified as troubled debt restructured | 3,500,000 | 3,500,000 | |||
Allowance Impaired Loans [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans classified as troubled debt restructured | 83,000 | 83,000 | |||
Loans, Excluding PCI Loans [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Commercial real estate loans | 5,268,740,000 | 5,268,740,000 | 3,376,713,000 | ||
Dairy & livestock and agribusiness | 304,598,000 | 304,598,000 | 347,289,000 | ||
Impaired, at carrying value | 15,500,000 | ||||
Outstanding balance | 16,430,000 | 16,430,000 | 10,716,000 | ||
Loans, Excluding PCI Loans [Member] | Dairy & Livestock Loans [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Dairy & livestock and agribusiness | 251,400,000 | 251,400,000 | 310,600,000 | ||
Loans, Excluding PCI Loans [Member] | Agribusiness Loans [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Dairy & livestock and agribusiness | 53,200,000 | 53,200,000 | 36,700,000 | ||
Loans, Excluding PCI Loans [Member] | Nonaccrual Commercial and Industrial Loans [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Outstanding balance | 3,000,000 | 3,000,000 | |||
Loans, Excluding PCI Loans [Member] | Dairy & Livestock and Agribusiness [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Outstanding balance | 775,000 | 775,000 | 829,000 | ||
Loans, Excluding PCI Loans [Member] | Commercial and Industrial [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Outstanding balance | 3,026,000 | 3,026,000 | 250,000 | ||
Loans, Excluding PCI Loans [Member] | Small Business Administration [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Outstanding balance | $ 3,005,000 | $ 3,005,000 | $ 906,000 | ||
Loans, Excluding PCI Loans [Member] | Loans Secured by Farmland [Member] | Commercial Real Estate Loans [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Percentage of total gross loan portfolio (excluding PCI loans) | 4.17% | 4.17% | 6.10% | ||
Commercial real estate loans | $ 219,600,000 | $ 219,600,000 | $ 206,100,000 | ||
Loans, Excluding PCI Loans [Member] | Loans Secured by Farmland [Member] | Loans Secured by Dairy & Livestock Land [Member] | Commercial Real Estate Loans [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Commercial real estate loans | 128,800,000 | 128,800,000 | 118,200,000 | ||
Loans, Excluding PCI Loans [Member] | Loans Secured by Farmland [Member] | Loans Secured by Agricultural Land [Member] | Commercial Real Estate Loans [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Commercial real estate loans | $ 90,800,000 | $ 90,800,000 | $ 87,900,000 |
Loans and Lease Finance Recei_5
Loans and Lease Finance Receivables and Allowance for Loan Losses - Summary of Loan, Excluding PCI Loans by Internal Risk Ratings (Detail) - Loans, Excluding PCI Loans [Member] - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Commercial and industrial | $ 1,021,906 | $ 513,325 |
SBA | 357,052 | 122,055 |
Commercial real estate, Owner occupied | 2,041,131 | 1,096,280 |
Commercial real estate, Non-owner occupied | 3,227,609 | 2,280,433 |
Construction, Speculative | 32,081 | 60,042 |
Construction, Non-speculative | 91,193 | 17,940 |
SFR mortgage | 292,516 | 236,202 |
Dairy & livestock and agribusiness | 304,598 | 347,289 |
Municipal lease finance receivables | 67,581 | 70,243 |
Consumer and other loans | 134,796 | 64,229 |
Total gross loans, excluding PCI loans | 7,570,463 | 4,808,038 |
Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Commercial and industrial | 980,421 | 483,641 |
SBA | 345,126 | 112,835 |
Commercial real estate, Owner occupied | 1,931,062 | 1,009,199 |
Commercial real estate, Non-owner occupied | 3,215,070 | 2,257,130 |
Construction, Speculative | 32,081 | 60,042 |
Construction, Non-speculative | 91,193 | 17,940 |
SFR mortgage | 284,852 | 229,032 |
Dairy & livestock and agribusiness | 268,328 | 321,413 |
Municipal lease finance receivables | 67,045 | 69,644 |
Consumer and other loans | 132,637 | 61,715 |
Total gross loans, excluding PCI loans | 7,347,815 | 4,622,591 |
Special Mention [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Commercial and industrial | 33,628 | 19,566 |
SBA | 5,469 | 5,358 |
Commercial real estate, Owner occupied | 97,990 | 76,111 |
Commercial real estate, Non-owner occupied | 5,582 | 16,434 |
Construction, Speculative | 0 | 0 |
Construction, Non-speculative | 0 | 0 |
SFR mortgage | 4,047 | 3,124 |
Dairy & livestock and agribusiness | 26,877 | 9,047 |
Municipal lease finance receivables | 536 | 599 |
Consumer and other loans | 740 | 1,255 |
Total gross loans, excluding PCI loans | 174,869 | 131,494 |
Substandard [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Commercial and industrial | 7,857 | 10,118 |
SBA | 6,457 | 3,862 |
Commercial real estate, Owner occupied | 12,079 | 10,970 |
Commercial real estate, Non-owner occupied | 6,957 | 6,869 |
Construction, Speculative | 0 | 0 |
Construction, Non-speculative | 0 | 0 |
SFR mortgage | 3,617 | 4,046 |
Dairy & livestock and agribusiness | 9,393 | 16,829 |
Municipal lease finance receivables | 0 | 0 |
Consumer and other loans | 1,419 | 1,259 |
Total gross loans, excluding PCI loans | 47,779 | 53,953 |
Doubtful & Loss [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Commercial and industrial | 0 | 0 |
SBA | 0 | 0 |
Commercial real estate, Owner occupied | 0 | 0 |
Commercial real estate, Non-owner occupied | 0 | 0 |
Construction, Speculative | 0 | 0 |
Construction, Non-speculative | 0 | 0 |
SFR mortgage | 0 | 0 |
Dairy & livestock and agribusiness | 0 | 0 |
Municipal lease finance receivables | 0 | 0 |
Consumer and other loans | 0 | 0 |
Total gross loans, excluding PCI loans | $ 0 | $ 0 |
Loans and Lease Finance Recei_6
Loans and Lease Finance Receivables and Allowance for Loan Losses - Summary of Loan, Excluding PCI Loans by Internal Risk Ratings (Parenthetical) (Detail) $ in Millions | 9 Months Ended |
Sep. 30, 2018USD ($) | |
Receivables [Abstract] | |
Payments to acquire loans receivable | $ 15.1 |
Loans and Lease Finance Recei_7
Loans and Lease Finance Receivables and Allowance for Loan Losses - Schedule of Balance and Activity Related to Allowance for Loan Losses for Held-for-Investment Loans by Type (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Beginning Balance | $ 59,583 | $ 60,201 | $ 59,585 | $ 61,540 |
Charge-offs | (258) | (147) | (267) | (149) |
Recoveries | 182 | 2,077 | 2,189 | 6,240 |
(Recapture of) provision for loan losses | 500 | (1,500) | (1,500) | (7,000) |
Ending Balance | 60,007 | 60,631 | 60,007 | 60,631 |
PCI Loans [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Beginning Balance | 216 | 659 | 367 | 1,219 |
Charge-offs | 0 | 0 | 0 | 0 |
Recoveries | 0 | 0 | 0 | 0 |
(Recapture of) provision for loan losses | (11) | (228) | (162) | (788) |
Ending Balance | 205 | 431 | 205 | 431 |
Commercial and Industrial [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Beginning Balance | 6,970 | 8,060 | 7,280 | 8,154 |
Charge-offs | 0 | (138) | 0 | (138) |
Recoveries | 44 | 12 | 81 | 106 |
(Recapture of) provision for loan losses | 477 | 129 | 130 | (59) |
Ending Balance | 7,491 | 8,063 | 7,491 | 8,063 |
Small Business Administration [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Beginning Balance | 841 | 913 | 869 | 871 |
Charge-offs | (257) | 0 | (257) | 0 |
Recoveries | 5 | 5 | 15 | 47 |
(Recapture of) provision for loan losses | 369 | (54) | 331 | (54) |
Ending Balance | 958 | 864 | 958 | 864 |
Commercial Real Estate [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Beginning Balance | 42,597 | 39,927 | 41,722 | 37,443 |
Charge-offs | 0 | 0 | 0 | 0 |
Recoveries | 0 | 0 | 0 | 154 |
(Recapture of) provision for loan losses | (1,056) | 943 | (181) | 3,273 |
Ending Balance | 41,541 | 40,870 | 41,541 | 40,870 |
Construction [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Beginning Balance | 1,003 | 1,059 | 984 | 1,096 |
Charge-offs | 0 | 0 | 0 | 0 |
Recoveries | 15 | 2,055 | 1,945 | 5,774 |
(Recapture of) provision for loan losses | 115 | (2,181) | (1,796) | (5,937) |
Ending Balance | 1,133 | 933 | 1,133 | 933 |
SFR Mortgage [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Beginning Balance | 2,155 | 2,369 | 2,112 | 2,287 |
Charge-offs | 0 | 0 | 0 | 0 |
Recoveries | 0 | 0 | 0 | 64 |
(Recapture of) provision for loan losses | (30) | (49) | 13 | (31) |
Ending Balance | 2,125 | 2,320 | 2,125 | 2,320 |
Dairy & Livestock and Agribusiness [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Beginning Balance | 4,351 | 5,440 | 4,647 | 8,541 |
Charge-offs | 0 | 0 | 0 | 0 |
Recoveries | 0 | 0 | 19 | 19 |
(Recapture of) provision for loan losses | 673 | (66) | 358 | (3,186) |
Ending Balance | 5,024 | 5,374 | 5,024 | 5,374 |
Municipal Lease Finance Receivables [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Beginning Balance | 808 | 852 | 851 | 941 |
Charge-offs | 0 | 0 | 0 | 0 |
Recoveries | 0 | 0 | 0 | 0 |
(Recapture of) provision for loan losses | 7 | 54 | (36) | (35) |
Ending Balance | 815 | 906 | 815 | 906 |
Consumer and Other Loans [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Beginning Balance | 642 | 922 | 753 | 988 |
Charge-offs | (1) | (9) | (10) | (11) |
Recoveries | 118 | 5 | 129 | 76 |
(Recapture of) provision for loan losses | (44) | (48) | (157) | (183) |
Ending Balance | $ 715 | $ 870 | $ 715 | $ 870 |
Loans and Lease Finance Recei_8
Loans and Lease Finance Receivables and Allowance for Loan Losses - Schedule of Recorded Investment in Loans Held-for-Investment and Related Allowance for Loan Losses by Loan Type (Detail) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 | Sep. 30, 2017 |
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Recorded Investment in Loans, Individually Evaluated for Impairment | $ 20,183 | $ 17,308 | |
Recorded Investment in Loans, Collectively Evaluated for Impairment | 7,550,280 | 4,699,018 | |
Recorded Investment in Loans, Acquired with Deterioriated Credit Quality | 17,260 | 36,548 | |
Allowance for Loan Losses, Individually Evaluated for Impairment | 83 | 88 | |
Allowance for Loan Losses, Collectively Evaluated for Impairment | 59,719 | 60,112 | |
Allowance for Loan Losses, Acquired with Deterioriated Credit Quality | 205 | 431 | |
PCI Loans [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Recorded Investment in Loans, Individually Evaluated for Impairment | 0 | 0 | |
Recorded Investment in Loans, Collectively Evaluated for Impairment | 0 | 0 | |
Recorded Investment in Loans, Acquired with Deterioriated Credit Quality | 17,260 | $ 28,882 | 36,548 |
Allowance for Loan Losses, Individually Evaluated for Impairment | 0 | 0 | |
Allowance for Loan Losses, Collectively Evaluated for Impairment | 0 | 0 | |
Allowance for Loan Losses, Acquired with Deterioriated Credit Quality | 205 | $ 367 | 431 |
Commercial and Industrial [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Recorded Investment in Loans, Individually Evaluated for Impairment | 3,168 | 745 | |
Recorded Investment in Loans, Collectively Evaluated for Impairment | 1,018,738 | 527,914 | |
Recorded Investment in Loans, Acquired with Deterioriated Credit Quality | 0 | 0 | |
Allowance for Loan Losses, Individually Evaluated for Impairment | 0 | 2 | |
Allowance for Loan Losses, Collectively Evaluated for Impairment | 7,491 | 8,061 | |
Allowance for Loan Losses, Acquired with Deterioriated Credit Quality | 0 | 0 | |
Small Business Administration [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Recorded Investment in Loans, Individually Evaluated for Impairment | 3,593 | 2,273 | |
Recorded Investment in Loans, Collectively Evaluated for Impairment | 353,459 | 121,818 | |
Recorded Investment in Loans, Acquired with Deterioriated Credit Quality | 0 | 0 | |
Allowance for Loan Losses, Individually Evaluated for Impairment | 0 | 3 | |
Allowance for Loan Losses, Collectively Evaluated for Impairment | 958 | 861 | |
Allowance for Loan Losses, Acquired with Deterioriated Credit Quality | 0 | 0 | |
Commercial Real Estate [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Recorded Investment in Loans, Individually Evaluated for Impairment | 6,348 | 8,168 | |
Recorded Investment in Loans, Collectively Evaluated for Impairment | 5,262,392 | 3,324,349 | |
Recorded Investment in Loans, Acquired with Deterioriated Credit Quality | 0 | 0 | |
Allowance for Loan Losses, Individually Evaluated for Impairment | 0 | 0 | |
Allowance for Loan Losses, Collectively Evaluated for Impairment | 41,541 | 40,870 | |
Allowance for Loan Losses, Acquired with Deterioriated Credit Quality | 0 | 0 | |
Construction [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Recorded Investment in Loans, Individually Evaluated for Impairment | 0 | 0 | |
Recorded Investment in Loans, Collectively Evaluated for Impairment | 123,274 | 74,148 | |
Recorded Investment in Loans, Acquired with Deterioriated Credit Quality | 0 | 0 | |
Allowance for Loan Losses, Individually Evaluated for Impairment | 0 | 0 | |
Allowance for Loan Losses, Collectively Evaluated for Impairment | 1,133 | 933 | |
Allowance for Loan Losses, Acquired with Deterioriated Credit Quality | 0 | 0 | |
SFR Mortgage [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Recorded Investment in Loans, Individually Evaluated for Impairment | 5,492 | 4,550 | |
Recorded Investment in Loans, Collectively Evaluated for Impairment | 287,024 | 240,112 | |
Recorded Investment in Loans, Acquired with Deterioriated Credit Quality | 0 | 0 | |
Allowance for Loan Losses, Individually Evaluated for Impairment | 13 | 0 | |
Allowance for Loan Losses, Collectively Evaluated for Impairment | 2,112 | 2,320 | |
Allowance for Loan Losses, Acquired with Deterioriated Credit Quality | 0 | 0 | |
Dairy & Livestock and Agribusiness [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Recorded Investment in Loans, Individually Evaluated for Impairment | 775 | 829 | |
Recorded Investment in Loans, Collectively Evaluated for Impairment | 303,823 | 269,653 | |
Recorded Investment in Loans, Acquired with Deterioriated Credit Quality | 0 | 0 | |
Allowance for Loan Losses, Individually Evaluated for Impairment | 0 | 0 | |
Allowance for Loan Losses, Collectively Evaluated for Impairment | 5,024 | 5,374 | |
Allowance for Loan Losses, Acquired with Deterioriated Credit Quality | 0 | 0 | |
Municipal Lease Finance Receivables [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Recorded Investment in Loans, Individually Evaluated for Impairment | 0 | 0 | |
Recorded Investment in Loans, Collectively Evaluated for Impairment | 67,581 | 71,352 | |
Recorded Investment in Loans, Acquired with Deterioriated Credit Quality | 0 | 0 | |
Allowance for Loan Losses, Individually Evaluated for Impairment | 0 | 0 | |
Allowance for Loan Losses, Collectively Evaluated for Impairment | 815 | 906 | |
Allowance for Loan Losses, Acquired with Deterioriated Credit Quality | 0 | 0 | |
Consumer and Other Loans [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Recorded Investment in Loans, Individually Evaluated for Impairment | 807 | 743 | |
Recorded Investment in Loans, Collectively Evaluated for Impairment | 133,989 | 69,672 | |
Recorded Investment in Loans, Acquired with Deterioriated Credit Quality | 0 | 0 | |
Allowance for Loan Losses, Individually Evaluated for Impairment | 70 | 83 | |
Allowance for Loan Losses, Collectively Evaluated for Impairment | 645 | 787 | |
Allowance for Loan Losses, Acquired with Deterioriated Credit Quality | $ 0 | $ 0 |
Loans and Lease Finance Recei_9
Loans and Lease Finance Receivables and Allowance for Loan Losses - Schedule of Recorded Investment in, and Aging of, Past Due and Nonaccrual Loans, Excluding PCI Loans by Class of Loans (Detail) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
30-59 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Nonaccrual | $ 562 | |
60-89 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Nonaccrual | 1,300 | $ 376 |
Dairy & Livestock and Agribusiness [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Nonaccrual | 807 | |
Loans, Excluding PCI Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due and Accruing | 495 | 1,172 |
Nonaccrual | 16,430 | 10,716 |
Current | 7,553,538 | 4,796,150 |
Total gross loans, excluding PCI loans | 7,570,463 | 4,808,038 |
Loans, Excluding PCI Loans [Member] | 30-59 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due and Accruing | 372 | 1,172 |
Loans, Excluding PCI Loans [Member] | 60-89 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due and Accruing | 123 | 0 |
Loans, Excluding PCI Loans [Member] | Commercial and Industrial [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due and Accruing | 274 | 768 |
Nonaccrual | 3,026 | 250 |
Current | 1,018,606 | 512,307 |
Total gross loans, excluding PCI loans | 1,021,906 | 513,325 |
Loans, Excluding PCI Loans [Member] | Commercial and Industrial [Member] | 30-59 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due and Accruing | 274 | 768 |
Loans, Excluding PCI Loans [Member] | Commercial and Industrial [Member] | 60-89 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due and Accruing | 0 | 0 |
Loans, Excluding PCI Loans [Member] | Small Business Administration [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due and Accruing | 123 | 403 |
Nonaccrual | 3,005 | 906 |
Current | 353,924 | 120,746 |
Total gross loans, excluding PCI loans | 357,052 | 122,055 |
Loans, Excluding PCI Loans [Member] | Small Business Administration [Member] | 30-59 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due and Accruing | 0 | 403 |
Loans, Excluding PCI Loans [Member] | Small Business Administration [Member] | 60-89 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due and Accruing | 123 | 0 |
Loans, Excluding PCI Loans [Member] | Commercial Real Estate Owner Occupied [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due and Accruing | 0 | 0 |
Nonaccrual | 615 | 4,365 |
Current | 2,040,516 | 1,091,915 |
Total gross loans, excluding PCI loans | 2,041,131 | 1,096,280 |
Loans, Excluding PCI Loans [Member] | Commercial Real Estate Owner Occupied [Member] | 30-59 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due and Accruing | 0 | 0 |
Loans, Excluding PCI Loans [Member] | Commercial Real Estate Owner Occupied [Member] | 60-89 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due and Accruing | 0 | 0 |
Loans, Excluding PCI Loans [Member] | Commercial Real Estate Non-owner Occupied [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due and Accruing | 0 | 0 |
Nonaccrual | 5,241 | 2,477 |
Current | 3,222,368 | 2,277,956 |
Total gross loans, excluding PCI loans | 3,227,609 | 2,280,433 |
Loans, Excluding PCI Loans [Member] | Commercial Real Estate Non-owner Occupied [Member] | 30-59 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due and Accruing | 0 | 0 |
Loans, Excluding PCI Loans [Member] | Commercial Real Estate Non-owner Occupied [Member] | 60-89 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due and Accruing | 0 | 0 |
Loans, Excluding PCI Loans [Member] | Construction Speculative [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due and Accruing | 0 | 0 |
Nonaccrual | 0 | 0 |
Current | 32,081 | 60,042 |
Total gross loans, excluding PCI loans | 32,081 | 60,042 |
Loans, Excluding PCI Loans [Member] | Construction Speculative [Member] | 30-59 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due and Accruing | 0 | 0 |
Loans, Excluding PCI Loans [Member] | Construction Speculative [Member] | 60-89 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due and Accruing | 0 | 0 |
Loans, Excluding PCI Loans [Member] | Construction Non-speculative [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due and Accruing | 0 | 0 |
Nonaccrual | 0 | 0 |
Current | 91,193 | 17,940 |
Total gross loans, excluding PCI loans | 91,193 | 17,940 |
Loans, Excluding PCI Loans [Member] | Construction Non-speculative [Member] | 30-59 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due and Accruing | 0 | 0 |
Loans, Excluding PCI Loans [Member] | Construction Non-speculative [Member] | 60-89 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due and Accruing | 0 | 0 |
Loans, Excluding PCI Loans [Member] | SFR Mortgage [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due and Accruing | 0 | 0 |
Nonaccrual | 2,961 | 1,337 |
Current | 289,555 | 234,865 |
Total gross loans, excluding PCI loans | 292,516 | 236,202 |
Loans, Excluding PCI Loans [Member] | SFR Mortgage [Member] | 30-59 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due and Accruing | 0 | 0 |
Loans, Excluding PCI Loans [Member] | SFR Mortgage [Member] | 60-89 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due and Accruing | 0 | 0 |
Loans, Excluding PCI Loans [Member] | Dairy & Livestock and Agribusiness [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due and Accruing | 0 | 0 |
Nonaccrual | 775 | 829 |
Current | 303,823 | 346,460 |
Total gross loans, excluding PCI loans | 304,598 | 347,289 |
Loans, Excluding PCI Loans [Member] | Dairy & Livestock and Agribusiness [Member] | 30-59 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due and Accruing | 0 | 0 |
Loans, Excluding PCI Loans [Member] | Dairy & Livestock and Agribusiness [Member] | 60-89 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due and Accruing | 0 | 0 |
Loans, Excluding PCI Loans [Member] | Municipal Lease Finance Receivables [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due and Accruing | 0 | 0 |
Nonaccrual | 0 | 0 |
Current | 67,581 | 70,243 |
Total gross loans, excluding PCI loans | 67,581 | 70,243 |
Loans, Excluding PCI Loans [Member] | Municipal Lease Finance Receivables [Member] | 30-59 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due and Accruing | 0 | 0 |
Loans, Excluding PCI Loans [Member] | Municipal Lease Finance Receivables [Member] | 60-89 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due and Accruing | 0 | 0 |
Loans, Excluding PCI Loans [Member] | Consumer and Other Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due and Accruing | 98 | 1 |
Nonaccrual | 807 | 552 |
Current | 133,891 | 63,676 |
Total gross loans, excluding PCI loans | 134,796 | 64,229 |
Loans, Excluding PCI Loans [Member] | Consumer and Other Loans [Member] | 30-59 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due and Accruing | 98 | 1 |
Loans, Excluding PCI Loans [Member] | Consumer and Other Loans [Member] | 60-89 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due and Accruing | $ 0 | $ 0 |
Loans and Lease Finance Rece_10
Loans and Lease Finance Receivables and Allowance for Loan Losses - Schedule of Recorded Investment in, and Aging of, Past Due and Nonaccrual Loans, Excluding PCI Loans by Class of Loans (Parenthetical) (Detail) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Nonaccruing loans, current | $ 2,600 | $ 3,600 |
Nonaccrual loans | 8,600 | |
30-59 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Nonaccrual | 562 | |
60-89 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Nonaccrual | 1,300 | 376 |
90+ Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Nonaccrual | $ 12,000 | $ 6,800 |
Loans and Lease Finance Rece_11
Loans and Lease Finance Receivables and Allowance for Loan Losses - Schedule of Held-for-Investment Loans, Excluding PCI Loans, Individually Evaluated for Impairment by Class of Loans (Detail) - USD ($) $ in Thousands | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Dec. 31, 2017 | |
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Recorded Investment, With no related allowance recorded | $ 20,100 | $ 16,899 | $ 15,146 |
Recorded Investment, With a related allowance recorded | 83 | 409 | 379 |
Recorded Investment, Total impaired loans | 20,183 | 17,308 | 15,525 |
Unpaid Principal Balance, With no related allowance recorded | 25,284 | 20,616 | 18,702 |
Unpaid Principal Balance, With a related allowance recorded | 114 | 434 | 409 |
Unpaid Principal Balance, Total impaired loans | 25,398 | 21,050 | 19,111 |
Related Allowance, With no related allowance recorded | 0 | 0 | 0 |
Related Allowance, With a related allowance recorded | 83 | 88 | 75 |
Related Allowance, Total impaired loans | 83 | 88 | 75 |
Average Recorded Investment, With no related allowance recorded | 21,798 | 17,766 | |
Average Recorded Investment, With a related allowance recorded | 98 | 439 | |
Average Recorded Investment, Total impaired loans | 21,896 | 18,205 | |
Interest Income Recognized, With no related allowance recorded | 123 | 277 | |
Interest Income Recognized, With a related allowance recorded | 0 | 1 | |
Interest Income Recognized, Total impaired loans | 123 | 278 | |
Commercial and Industrial [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Recorded Investment, With no related allowance recorded | 3,168 | 726 | 440 |
Recorded Investment, With a related allowance recorded | 0 | 19 | 0 |
Unpaid Principal Balance, With no related allowance recorded | 3,829 | 1,256 | 980 |
Unpaid Principal Balance, With a related allowance recorded | 0 | 20 | 0 |
Related Allowance, With no related allowance recorded | 0 | 0 | 0 |
Related Allowance, With a related allowance recorded | 0 | 2 | 0 |
Average Recorded Investment, With no related allowance recorded | 3,439 | 870 | |
Average Recorded Investment, With a related allowance recorded | 0 | 42 | |
Interest Income Recognized, With no related allowance recorded | 6 | 15 | |
Interest Income Recognized, With a related allowance recorded | 0 | 1 | |
Small Business Administration [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Recorded Investment, With no related allowance recorded | 3,593 | 2,270 | 1,530 |
Recorded Investment, With a related allowance recorded | 0 | 3 | 1 |
Unpaid Principal Balance, With no related allowance recorded | 5,779 | 2,573 | 1,699 |
Unpaid Principal Balance, With a related allowance recorded | 0 | 20 | 18 |
Related Allowance, With no related allowance recorded | 0 | 0 | 0 |
Related Allowance, With a related allowance recorded | 0 | 3 | 1 |
Average Recorded Investment, With no related allowance recorded | 4,457 | 2,489 | |
Average Recorded Investment, With a related allowance recorded | 0 | 7 | |
Interest Income Recognized, With no related allowance recorded | 34 | 38 | |
Interest Income Recognized, With a related allowance recorded | 0 | 0 | |
Commercial Real Estate Owner Occupied [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Recorded Investment, With no related allowance recorded | 615 | 4,313 | 4,365 |
Recorded Investment, With a related allowance recorded | 0 | 0 | 0 |
Unpaid Principal Balance, With no related allowance recorded | 726 | 4,625 | 4,763 |
Unpaid Principal Balance, With a related allowance recorded | 0 | 0 | 0 |
Related Allowance, With no related allowance recorded | 0 | 0 | 0 |
Related Allowance, With a related allowance recorded | 0 | 0 | 0 |
Average Recorded Investment, With no related allowance recorded | 644 | 4,361 | |
Average Recorded Investment, With a related allowance recorded | 0 | 0 | |
Interest Income Recognized, With no related allowance recorded | 0 | 42 | |
Interest Income Recognized, With a related allowance recorded | 0 | 0 | |
Commercial Real Estate Non-owner Occupied [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Recorded Investment, With no related allowance recorded | 5,733 | 3,855 | 3,768 |
Recorded Investment, With a related allowance recorded | 0 | 0 | 0 |
Unpaid Principal Balance, With no related allowance recorded | 6,385 | 5,155 | 5,107 |
Unpaid Principal Balance, With a related allowance recorded | 0 | 0 | 0 |
Related Allowance, With no related allowance recorded | 0 | 0 | 0 |
Related Allowance, With a related allowance recorded | 0 | 0 | 0 |
Average Recorded Investment, With no related allowance recorded | 5,904 | 4,010 | |
Average Recorded Investment, With a related allowance recorded | 0 | 0 | |
Interest Income Recognized, With no related allowance recorded | 24 | 72 | |
Interest Income Recognized, With a related allowance recorded | 0 | 0 | |
Construction Speculative [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Recorded Investment, With no related allowance recorded | 0 | 0 | 0 |
Recorded Investment, With a related allowance recorded | 0 | 0 | 0 |
Unpaid Principal Balance, With no related allowance recorded | 0 | 0 | 0 |
Unpaid Principal Balance, With a related allowance recorded | 0 | 0 | 0 |
Related Allowance, With no related allowance recorded | 0 | 0 | 0 |
Related Allowance, With a related allowance recorded | 0 | 0 | 0 |
Average Recorded Investment, With no related allowance recorded | 0 | 0 | |
Average Recorded Investment, With a related allowance recorded | 0 | 0 | |
Interest Income Recognized, With no related allowance recorded | 0 | 0 | |
Interest Income Recognized, With a related allowance recorded | 0 | 0 | |
Construction Non-speculative [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Recorded Investment, With no related allowance recorded | 0 | 0 | 0 |
Recorded Investment, With a related allowance recorded | 0 | 0 | 0 |
Unpaid Principal Balance, With no related allowance recorded | 0 | 0 | 0 |
Unpaid Principal Balance, With a related allowance recorded | 0 | 0 | 0 |
Related Allowance, With no related allowance recorded | 0 | 0 | 0 |
Related Allowance, With a related allowance recorded | 0 | 0 | 0 |
Average Recorded Investment, With no related allowance recorded | 0 | 0 | |
Average Recorded Investment, With a related allowance recorded | 0 | 0 | |
Interest Income Recognized, With no related allowance recorded | 0 | 0 | |
Interest Income Recognized, With a related allowance recorded | 0 | 0 | |
SFR Mortgage [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Recorded Investment, With no related allowance recorded | 5,479 | 4,550 | 4,040 |
Recorded Investment, With a related allowance recorded | 13 | 0 | 0 |
Unpaid Principal Balance, With no related allowance recorded | 6,449 | 5,345 | 4,692 |
Unpaid Principal Balance, With a related allowance recorded | 13 | 0 | 0 |
Related Allowance, With no related allowance recorded | 0 | 0 | 0 |
Related Allowance, With a related allowance recorded | 13 | 0 | 0 |
Average Recorded Investment, With no related allowance recorded | 5,679 | 4,620 | |
Average Recorded Investment, With a related allowance recorded | 13 | 0 | |
Interest Income Recognized, With no related allowance recorded | 59 | 109 | |
Interest Income Recognized, With a related allowance recorded | 0 | 0 | |
Dairy & Livestock and Agribusiness [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Recorded Investment, With no related allowance recorded | 775 | 829 | 829 |
Recorded Investment, With a related allowance recorded | 0 | 0 | 0 |
Unpaid Principal Balance, With no related allowance recorded | 1,091 | 1,091 | 1,091 |
Unpaid Principal Balance, With a related allowance recorded | 0 | 0 | 0 |
Related Allowance, With no related allowance recorded | 0 | 0 | 0 |
Related Allowance, With a related allowance recorded | 0 | 0 | 0 |
Average Recorded Investment, With no related allowance recorded | 808 | 1,035 | |
Average Recorded Investment, With a related allowance recorded | 0 | 0 | |
Interest Income Recognized, With no related allowance recorded | 0 | 1 | |
Interest Income Recognized, With a related allowance recorded | 0 | 0 | |
Municipal Lease Finance Receivables [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Recorded Investment, With no related allowance recorded | 0 | 0 | 0 |
Recorded Investment, With a related allowance recorded | 0 | 0 | 0 |
Unpaid Principal Balance, With no related allowance recorded | 0 | 0 | 0 |
Unpaid Principal Balance, With a related allowance recorded | 0 | 0 | 0 |
Related Allowance, With no related allowance recorded | 0 | 0 | 0 |
Related Allowance, With a related allowance recorded | 0 | 0 | 0 |
Average Recorded Investment, With no related allowance recorded | 0 | 0 | |
Average Recorded Investment, With a related allowance recorded | 0 | 0 | |
Interest Income Recognized, With no related allowance recorded | 0 | 0 | |
Interest Income Recognized, With a related allowance recorded | 0 | 0 | |
Consumer and Other Loans [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Recorded Investment, With no related allowance recorded | 737 | 356 | 174 |
Recorded Investment, With a related allowance recorded | 70 | 387 | 378 |
Unpaid Principal Balance, With no related allowance recorded | 1,025 | 571 | 370 |
Unpaid Principal Balance, With a related allowance recorded | 101 | 394 | 391 |
Related Allowance, With no related allowance recorded | 0 | 0 | 0 |
Related Allowance, With a related allowance recorded | 70 | 83 | $ 74 |
Average Recorded Investment, With no related allowance recorded | 867 | 381 | |
Average Recorded Investment, With a related allowance recorded | 85 | 390 | |
Interest Income Recognized, With no related allowance recorded | 0 | 0 | |
Interest Income Recognized, With a related allowance recorded | $ 0 | $ 0 |
Loans and Lease Finance Rece_12
Loans and Lease Finance Receivables and Allowance for Loan Losses - Summary of Activity Related to Troubled Debt Restructurings (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Financing Receivable, Modifications [Line Items] | ||||
Total TDRs | $ 7,273 | $ 10,045 | $ 7,273 | $ 10,045 |
Performing TDRs [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Beginning balance | 4,530 | 16,574 | 4,809 | 19,233 |
New modifications | 0 | 0 | 311 | 3,143 |
Payoffs/payments, net and other | (777) | (10,839) | (1,367) | (13,826) |
TDRs returned to accrual status | 0 | 0 | 0 | 329 |
TDRs placed on nonaccrual status | 0 | 0 | 0 | (3,144) |
Ending balance | 3,753 | 5,735 | 3,753 | 5,735 |
Nonperforming TDRs [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Beginning balance | 3,892 | 4,391 | 4,200 | 1,626 |
New modifications | 278 | 0 | 316 | 2,066 |
Charge-offs | 0 | 0 | 0 | 0 |
Payoffs/payments, net and other | (650) | (81) | (996) | (2,197) |
TDRs returned to accrual status | 0 | 0 | 0 | (329) |
TDRs placed on nonaccrual status | 0 | 0 | 0 | 3,144 |
Ending balance | $ 3,520 | $ 4,310 | $ 3,520 | $ 4,310 |
Loans and Lease Finance Rece_13
Loans and Lease Finance Receivables and Allowance for Loan Losses - Summary of Loans Modified as Troubled Debt Restructurings (Detail) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018USD ($)Contract | Sep. 30, 2017USD ($)Contract | Sep. 30, 2018USD ($)Contract | Sep. 30, 2017USD ($)Contract | |
Financing Receivable, Modifications [Line Items] | ||||
Troubled debt restructurings, Number of Loans | Contract | 1 | 0 | 3 | 3 |
Troubled debt restructurings, Pre-Modification Outstanding Recorded Investment | $ 278 | $ 0 | $ 627 | $ 5,209 |
Troubled debt restructurings, Post-Modification Outstanding Recorded Investment | 278 | 0 | 627 | 5,209 |
Troubled debt restructurings, Outstanding Recorded Investment | 272 | 0 | 603 | 3,297 |
Troubled debt restructurings, Financial Effect Resulting From Modifications | $ 0 | $ 0 | $ 0 | $ 0 |
Commercial and Industrial [Member] | Interest Rate Reduction [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Troubled debt restructurings, Number of Loans | Contract | 0 | 0 | 0 | 0 |
Troubled debt restructurings, Pre-Modification Outstanding Recorded Investment | $ 0 | $ 0 | $ 0 | $ 0 |
Troubled debt restructurings, Post-Modification Outstanding Recorded Investment | 0 | 0 | 0 | 0 |
Troubled debt restructurings, Outstanding Recorded Investment | 0 | 0 | 0 | 0 |
Troubled debt restructurings, Financial Effect Resulting From Modifications | $ 0 | $ 0 | $ 0 | $ 0 |
Commercial and Industrial [Member] | Change in Amortization Period or Maturity [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Troubled debt restructurings, Number of Loans | Contract | 0 | 0 | 1 | 0 |
Troubled debt restructurings, Pre-Modification Outstanding Recorded Investment | $ 0 | $ 0 | $ 38 | $ 0 |
Troubled debt restructurings, Post-Modification Outstanding Recorded Investment | 0 | 0 | 38 | 0 |
Troubled debt restructurings, Outstanding Recorded Investment | 0 | 0 | 27 | 0 |
Troubled debt restructurings, Financial Effect Resulting From Modifications | $ 0 | $ 0 | $ 0 | $ 0 |
Commercial Real Estate Owner Occupied [Member] | Interest Rate Reduction [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Troubled debt restructurings, Number of Loans | Contract | 0 | 0 | 0 | 0 |
Troubled debt restructurings, Pre-Modification Outstanding Recorded Investment | $ 0 | $ 0 | $ 0 | $ 0 |
Troubled debt restructurings, Post-Modification Outstanding Recorded Investment | 0 | 0 | 0 | 0 |
Troubled debt restructurings, Outstanding Recorded Investment | 0 | 0 | 0 | 0 |
Troubled debt restructurings, Financial Effect Resulting From Modifications | $ 0 | $ 0 | $ 0 | $ 0 |
Commercial Real Estate Owner Occupied [Member] | Change in Amortization Period or Maturity [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Troubled debt restructurings, Number of Loans | Contract | 0 | 0 | 0 | 1 |
Troubled debt restructurings, Pre-Modification Outstanding Recorded Investment | $ 0 | $ 0 | $ 0 | $ 3,143 |
Troubled debt restructurings, Post-Modification Outstanding Recorded Investment | 0 | 0 | 0 | 3,143 |
Troubled debt restructurings, Outstanding Recorded Investment | 0 | 0 | 0 | 3,143 |
Troubled debt restructurings, Financial Effect Resulting From Modifications | $ 0 | $ 0 | $ 0 | $ 0 |
Commercial Real Estate Non-owner Occupied [Member] | Interest Rate Reduction [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Troubled debt restructurings, Number of Loans | Contract | 0 | 0 | 0 | 0 |
Troubled debt restructurings, Pre-Modification Outstanding Recorded Investment | $ 0 | $ 0 | $ 0 | $ 0 |
Troubled debt restructurings, Post-Modification Outstanding Recorded Investment | 0 | 0 | 0 | 0 |
Troubled debt restructurings, Outstanding Recorded Investment | 0 | 0 | 0 | 0 |
Troubled debt restructurings, Financial Effect Resulting From Modifications | $ 0 | $ 0 | $ 0 | $ 0 |
Commercial Real Estate Non-owner Occupied [Member] | Change in Amortization Period or Maturity [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Troubled debt restructurings, Number of Loans | Contract | 0 | 0 | 0 | 0 |
Troubled debt restructurings, Pre-Modification Outstanding Recorded Investment | $ 0 | $ 0 | $ 0 | $ 0 |
Troubled debt restructurings, Post-Modification Outstanding Recorded Investment | 0 | 0 | 0 | 0 |
Troubled debt restructurings, Outstanding Recorded Investment | 0 | 0 | 0 | 0 |
Troubled debt restructurings, Financial Effect Resulting From Modifications | $ 0 | $ 0 | $ 0 | $ 0 |
SFR Mortgage [Member] | Interest Rate Reduction [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Troubled debt restructurings, Number of Loans | Contract | 0 | 0 | 0 | |
Troubled debt restructurings, Pre-Modification Outstanding Recorded Investment | $ 0 | $ 0 | $ 0 | |
Troubled debt restructurings, Post-Modification Outstanding Recorded Investment | 0 | 0 | 0 | |
Troubled debt restructurings, Outstanding Recorded Investment | 0 | 0 | 0 | |
Troubled debt restructurings, Financial Effect Resulting From Modifications | $ 0 | $ 0 | $ 0 | |
SFR Mortgage [Member] | Change in Amortization Period or Maturity [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Troubled debt restructurings, Number of Loans | Contract | 0 | 0 | 1 | |
Troubled debt restructurings, Pre-Modification Outstanding Recorded Investment | $ 0 | $ 0 | $ 311 | |
Troubled debt restructurings, Post-Modification Outstanding Recorded Investment | 0 | 0 | 311 | |
Troubled debt restructurings, Outstanding Recorded Investment | 0 | 0 | 304 | |
Troubled debt restructurings, Financial Effect Resulting From Modifications | $ 0 | $ 0 | $ 0 | |
Dairy & Livestock and Agribusiness [Member] | Interest Rate Reduction [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Troubled debt restructurings, Number of Loans | Contract | 0 | 0 | 0 | 0 |
Troubled debt restructurings, Pre-Modification Outstanding Recorded Investment | $ 0 | $ 0 | $ 0 | $ 0 |
Troubled debt restructurings, Post-Modification Outstanding Recorded Investment | 0 | 0 | 0 | 0 |
Troubled debt restructurings, Outstanding Recorded Investment | 0 | 0 | 0 | 0 |
Troubled debt restructurings, Financial Effect Resulting From Modifications | $ 0 | $ 0 | $ 0 | $ 0 |
Dairy & Livestock and Agribusiness [Member] | Change in Amortization Period or Maturity [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Troubled debt restructurings, Number of Loans | Contract | 0 | 0 | 0 | 1 |
Troubled debt restructurings, Pre-Modification Outstanding Recorded Investment | $ 0 | $ 0 | $ 0 | $ 1,984 |
Troubled debt restructurings, Post-Modification Outstanding Recorded Investment | 0 | 0 | 0 | 1,984 |
Troubled debt restructurings, Outstanding Recorded Investment | 0 | 0 | 0 | 78 |
Troubled debt restructurings, Financial Effect Resulting From Modifications | $ 0 | $ 0 | $ 0 | $ 0 |
Consumer [Member] | Interest Rate Reduction [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Troubled debt restructurings, Number of Loans | Contract | 0 | 0 | 0 | 0 |
Troubled debt restructurings, Pre-Modification Outstanding Recorded Investment | $ 0 | $ 0 | $ 0 | $ 0 |
Troubled debt restructurings, Post-Modification Outstanding Recorded Investment | 0 | 0 | 0 | 0 |
Troubled debt restructurings, Outstanding Recorded Investment | 0 | 0 | 0 | 0 |
Troubled debt restructurings, Financial Effect Resulting From Modifications | $ 0 | $ 0 | $ 0 | $ 0 |
Consumer [Member] | Change in Amortization Period or Maturity [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Troubled debt restructurings, Number of Loans | Contract | 1 | 0 | 1 | 1 |
Troubled debt restructurings, Pre-Modification Outstanding Recorded Investment | $ 278 | $ 0 | $ 278 | $ 82 |
Troubled debt restructurings, Post-Modification Outstanding Recorded Investment | 278 | 0 | 278 | 82 |
Troubled debt restructurings, Outstanding Recorded Investment | 272 | 0 | 272 | 76 |
Troubled debt restructurings, Financial Effect Resulting From Modifications | $ 0 | $ 0 | $ 0 | $ 0 |
Earnings Per Share Reconcilia_3
Earnings Per Share Reconciliation - Additional Information (Detail) - shares shares in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Earnings Per Share [Abstract] | ||||
Antidilutive securities excluded from computation of earnings per common share | 56 | 15 | 50 | 10 |
Earnings Per Share Reconcilia_4
Earnings Per Share Reconciliation - Schedule of Earnings Per Common Share Reconciliation (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Earnings per common share: | ||||
Net earnings | $ 38,558 | $ 29,683 | $ 108,844 | $ 86,560 |
Less: Net earnings allocated to restricted stock | 96 | 107 | 298 | 325 |
Net earnings allocated to common shareholders | $ 38,462 | $ 29,576 | $ 108,546 | $ 86,235 |
Weighted average shares outstanding | 126,574 | 109,754 | 115,533 | 109,280 |
Basic earnings per common share | $ 0.30 | $ 0.27 | $ 0.94 | $ 0.79 |
Diluted earnings per common share: | ||||
Net income allocated to common shareholders | $ 38,462 | $ 29,576 | $ 108,546 | $ 86,235 |
Weighted average shares outstanding | 126,574 | 109,754 | 115,533 | 109,280 |
Incremental shares from assumed exercise of outstanding options | 363 | 365 | 397 | 392 |
Diluted weighted average shares outstanding | 126,937 | 110,119 | 115,930 | 109,672 |
Diluted earnings per common share | $ 0.30 | $ 0.27 | $ 0.94 | $ 0.79 |
Fair Value Information - Additi
Fair Value Information - Additional Information (Detail) - USD ($) | Sep. 30, 2018 | Sep. 30, 2017 |
Fair Value Disclosures [Abstract] | ||
Fair value assets transfers from Level 1 to Level 2 | $ 0 | $ 0 |
Fair value assets transfers from Level 2 to Level 1 | 0 | 0 |
Fair value liabilities transfers from Level 1 to Level 2 | 0 | 0 |
Fair value liabilities transfers from Level 2 to Level 1 | $ 0 | $ 0 |
Fair Value Information - Assets
Fair Value Information - Assets and Liabilities Measured at Fair Value on Recurring Basis (Detail) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Interest rate swaps, liabilities | $ 400,421 | $ 556,984 |
Interest Rate Swaps [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Interest rate swaps, assets | 0 | 0 |
Carrying Value [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Interest rate swaps, assets | 944 | 3,211 |
Interest rate swaps, liabilities | 944 | 3,211 |
Fair Value on Recurring Basis [Member] | Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets | 0 | 0 |
Total liabilities | 0 | 0 |
Fair Value on Recurring Basis [Member] | Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets | 1,807,175 | 2,084,196 |
Total liabilities | 944 | 3,211 |
Fair Value on Recurring Basis [Member] | Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets | 0 | 0 |
Total liabilities | 0 | 0 |
Fair Value on Recurring Basis [Member] | Municipal Bonds [Member] | Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment securities - AFS | 0 | 0 |
Fair Value on Recurring Basis [Member] | Municipal Bonds [Member] | Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment securities - AFS | 48,739 | 55,496 |
Fair Value on Recurring Basis [Member] | Municipal Bonds [Member] | Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment securities - AFS | 0 | 0 |
Fair Value on Recurring Basis [Member] | Residential Mortgage-backed Securities [Member] | Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment securities - AFS | 0 | 0 |
Fair Value on Recurring Basis [Member] | Residential Mortgage-backed Securities [Member] | Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment securities - AFS | 1,532,878 | 1,750,909 |
Fair Value on Recurring Basis [Member] | Residential Mortgage-backed Securities [Member] | Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment securities - AFS | 0 | 0 |
Fair Value on Recurring Basis [Member] | CMO/REMIC - Residential [Member] | Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment securities - AFS | 0 | 0 |
Fair Value on Recurring Basis [Member] | CMO/REMIC - Residential [Member] | Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment securities - AFS | 223,817 | 273,829 |
Fair Value on Recurring Basis [Member] | CMO/REMIC - Residential [Member] | Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment securities - AFS | 0 | 0 |
Fair Value on Recurring Basis [Member] | Other Securities [Member] | Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment securities - AFS | 0 | 0 |
Fair Value on Recurring Basis [Member] | Other Securities [Member] | Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment securities - AFS | 797 | 751 |
Fair Value on Recurring Basis [Member] | Other Securities [Member] | Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment securities - AFS | 0 | 0 |
Fair Value on Recurring Basis [Member] | Investment Securities-AFS [Member] | Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment securities - AFS | 0 | 0 |
Fair Value on Recurring Basis [Member] | Investment Securities-AFS [Member] | Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment securities - AFS | 1,806,231 | 2,080,985 |
Fair Value on Recurring Basis [Member] | Investment Securities-AFS [Member] | Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment securities - AFS | 0 | 0 |
Fair Value on Recurring Basis [Member] | Interest Rate Swaps [Member] | Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Interest rate swaps, assets | 0 | 0 |
Interest rate swaps, liabilities | 0 | 0 |
Fair Value on Recurring Basis [Member] | Interest Rate Swaps [Member] | Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Interest rate swaps, assets | 944 | 3,211 |
Interest rate swaps, liabilities | 944 | 3,211 |
Fair Value on Recurring Basis [Member] | Interest Rate Swaps [Member] | Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Interest rate swaps, assets | 0 | 0 |
Interest rate swaps, liabilities | 0 | 0 |
Fair Value on Recurring Basis [Member] | Carrying Value [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets | 1,807,175 | 2,084,196 |
Total liabilities | 944 | 3,211 |
Fair Value on Recurring Basis [Member] | Carrying Value [Member] | Municipal Bonds [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment securities - AFS | 48,739 | 55,496 |
Fair Value on Recurring Basis [Member] | Carrying Value [Member] | Residential Mortgage-backed Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment securities - AFS | 1,532,878 | 1,750,909 |
Fair Value on Recurring Basis [Member] | Carrying Value [Member] | CMO/REMIC - Residential [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment securities - AFS | 223,817 | 273,829 |
Fair Value on Recurring Basis [Member] | Carrying Value [Member] | Other Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment securities - AFS | 797 | 751 |
Fair Value on Recurring Basis [Member] | Carrying Value [Member] | Investment Securities-AFS [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment securities - AFS | 1,806,231 | 2,080,985 |
Fair Value on Recurring Basis [Member] | Carrying Value [Member] | Interest Rate Swaps [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Interest rate swaps, assets | 944 | 3,211 |
Interest rate swaps, liabilities | $ 944 | $ 3,211 |
Fair Value Information - Asse_2
Fair Value Information - Assets and Liabilities Measured at Fair Value on Non-Recurring Basis (Detail) - Fair Value on Non-Recurring Basis [Member] - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
Description of assets | ||
Total assets | $ 14 | $ 74 |
Other Real Estate Owned [Member] | ||
Description of assets | ||
Total assets | 0 | 0 |
Loans, Excluding PCI Loans [Member] | Asset Held-for-Sale [Member] | ||
Description of assets | ||
Total assets | 0 | 0 |
Loans, Excluding PCI Loans [Member] | Commercial and Industrial [Member] | ||
Description of assets | ||
Total assets | 0 | 0 |
Loans, Excluding PCI Loans [Member] | Small Business Administration [Member] | ||
Description of assets | ||
Total assets | 0 | 0 |
Loans, Excluding PCI Loans [Member] | Commercial Real Estate [Member] | ||
Description of assets | ||
Total assets | 0 | 0 |
Loans, Excluding PCI Loans [Member] | Construction [Member] | ||
Description of assets | ||
Total assets | 0 | 0 |
Loans, Excluding PCI Loans [Member] | SFR Mortgage [Member] | ||
Description of assets | ||
Total assets | 13 | 0 |
Loans, Excluding PCI Loans [Member] | Dairy & Livestock and Agribusiness [Member] | ||
Description of assets | ||
Total assets | 0 | 0 |
Loans, Excluding PCI Loans [Member] | Consumer and Other Loans [Member] | ||
Description of assets | ||
Total assets | 1 | 74 |
Level 1 [Member] | ||
Description of assets | ||
Total assets | 0 | 0 |
Level 1 [Member] | Other Real Estate Owned [Member] | ||
Description of assets | ||
Total assets | 0 | 0 |
Level 1 [Member] | Loans, Excluding PCI Loans [Member] | Asset Held-for-Sale [Member] | ||
Description of assets | ||
Total assets | 0 | 0 |
Level 1 [Member] | Loans, Excluding PCI Loans [Member] | Commercial and Industrial [Member] | ||
Description of assets | ||
Total assets | 0 | 0 |
Level 1 [Member] | Loans, Excluding PCI Loans [Member] | Small Business Administration [Member] | ||
Description of assets | ||
Total assets | 0 | 0 |
Level 1 [Member] | Loans, Excluding PCI Loans [Member] | Commercial Real Estate [Member] | ||
Description of assets | ||
Total assets | 0 | 0 |
Level 1 [Member] | Loans, Excluding PCI Loans [Member] | Construction [Member] | ||
Description of assets | ||
Total assets | 0 | 0 |
Level 1 [Member] | Loans, Excluding PCI Loans [Member] | SFR Mortgage [Member] | ||
Description of assets | ||
Total assets | 0 | 0 |
Level 1 [Member] | Loans, Excluding PCI Loans [Member] | Dairy & Livestock and Agribusiness [Member] | ||
Description of assets | ||
Total assets | 0 | 0 |
Level 1 [Member] | Loans, Excluding PCI Loans [Member] | Consumer and Other Loans [Member] | ||
Description of assets | ||
Total assets | 0 | 0 |
Level 2 [Member] | ||
Description of assets | ||
Total assets | 0 | 0 |
Level 2 [Member] | Other Real Estate Owned [Member] | ||
Description of assets | ||
Total assets | 0 | 0 |
Level 2 [Member] | Loans, Excluding PCI Loans [Member] | Asset Held-for-Sale [Member] | ||
Description of assets | ||
Total assets | 0 | 0 |
Level 2 [Member] | Loans, Excluding PCI Loans [Member] | Commercial and Industrial [Member] | ||
Description of assets | ||
Total assets | 0 | 0 |
Level 2 [Member] | Loans, Excluding PCI Loans [Member] | Small Business Administration [Member] | ||
Description of assets | ||
Total assets | 0 | 0 |
Level 2 [Member] | Loans, Excluding PCI Loans [Member] | Commercial Real Estate [Member] | ||
Description of assets | ||
Total assets | 0 | 0 |
Level 2 [Member] | Loans, Excluding PCI Loans [Member] | Construction [Member] | ||
Description of assets | ||
Total assets | 0 | 0 |
Level 2 [Member] | Loans, Excluding PCI Loans [Member] | SFR Mortgage [Member] | ||
Description of assets | ||
Total assets | 0 | 0 |
Level 2 [Member] | Loans, Excluding PCI Loans [Member] | Dairy & Livestock and Agribusiness [Member] | ||
Description of assets | ||
Total assets | 0 | 0 |
Level 2 [Member] | Loans, Excluding PCI Loans [Member] | Consumer and Other Loans [Member] | ||
Description of assets | ||
Total assets | 0 | 0 |
Level 3 [Member] | ||
Description of assets | ||
Total assets | 14 | 378 |
Level 3 [Member] | Other Real Estate Owned [Member] | ||
Description of assets | ||
Total assets | 0 | 0 |
Level 3 [Member] | Loans, Excluding PCI Loans [Member] | Asset Held-for-Sale [Member] | ||
Description of assets | ||
Total assets | 0 | 0 |
Level 3 [Member] | Loans, Excluding PCI Loans [Member] | Commercial and Industrial [Member] | ||
Description of assets | ||
Total assets | 0 | 0 |
Level 3 [Member] | Loans, Excluding PCI Loans [Member] | Small Business Administration [Member] | ||
Description of assets | ||
Total assets | 0 | 0 |
Level 3 [Member] | Loans, Excluding PCI Loans [Member] | Commercial Real Estate [Member] | ||
Description of assets | ||
Total assets | 0 | 0 |
Level 3 [Member] | Loans, Excluding PCI Loans [Member] | Construction [Member] | ||
Description of assets | ||
Total assets | 0 | 0 |
Level 3 [Member] | Loans, Excluding PCI Loans [Member] | SFR Mortgage [Member] | ||
Description of assets | ||
Total assets | 13 | 0 |
Level 3 [Member] | Loans, Excluding PCI Loans [Member] | Dairy & Livestock and Agribusiness [Member] | ||
Description of assets | ||
Total assets | 0 | 0 |
Level 3 [Member] | Loans, Excluding PCI Loans [Member] | Consumer and Other Loans [Member] | ||
Description of assets | ||
Total assets | 1 | 378 |
Carrying Value [Member] | ||
Description of assets | ||
Total assets | 14 | 378 |
Carrying Value [Member] | Other Real Estate Owned [Member] | ||
Description of assets | ||
Total assets | 0 | 0 |
Carrying Value [Member] | Loans, Excluding PCI Loans [Member] | Asset Held-for-Sale [Member] | ||
Description of assets | ||
Total assets | 0 | 0 |
Carrying Value [Member] | Loans, Excluding PCI Loans [Member] | Commercial and Industrial [Member] | ||
Description of assets | ||
Total assets | 0 | 0 |
Carrying Value [Member] | Loans, Excluding PCI Loans [Member] | Small Business Administration [Member] | ||
Description of assets | ||
Total assets | 0 | 0 |
Carrying Value [Member] | Loans, Excluding PCI Loans [Member] | Commercial Real Estate [Member] | ||
Description of assets | ||
Total assets | 0 | 0 |
Carrying Value [Member] | Loans, Excluding PCI Loans [Member] | Construction [Member] | ||
Description of assets | ||
Total assets | 0 | 0 |
Carrying Value [Member] | Loans, Excluding PCI Loans [Member] | SFR Mortgage [Member] | ||
Description of assets | ||
Total assets | 13 | 0 |
Carrying Value [Member] | Loans, Excluding PCI Loans [Member] | Dairy & Livestock and Agribusiness [Member] | ||
Description of assets | ||
Total assets | 0 | 0 |
Carrying Value [Member] | Loans, Excluding PCI Loans [Member] | Consumer and Other Loans [Member] | ||
Description of assets | ||
Total assets | $ 1 | $ 378 |
Fair Value Information - Estima
Fair Value Information - Estimated Fair Value of Financial Instruments (Detail) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Dec. 31, 2016 |
Assets | ||||
Total cash and cash equivalents | $ 194,475 | $ 144,377 | $ 143,790 | $ 121,633 |
Interest-earning balances due from depository institutions | 8,812 | 17,952 | ||
FHLB stock | 17,688 | 17,688 | ||
Investment securities available-for-sale | 1,806,231 | 2,080,985 | ||
Investment securities held-to-maturity | 759,029 | 829,890 | ||
Total loans, net of allowance for loan losses | 7,522,452 | 4,771,046 | ||
Deposits: | ||||
Noninterest-bearing | 5,224,154 | 3,846,436 | ||
Interest-bearing | 3,885,672 | 2,700,417 | ||
Junior subordinated debentures | 25,774 | 25,774 | ||
Swaps | 400,421 | 556,984 | ||
Carrying Value [Member] | ||||
Assets | ||||
Total cash and cash equivalents | 194,475 | 144,377 | ||
Interest-earning balances due from depository institutions | 8,812 | 17,952 | ||
FHLB stock | 17,688 | |||
Investment securities available-for-sale | 1,806,231 | 2,080,985 | ||
Investment securities held-to-maturity | 759,029 | 829,890 | ||
Total loans, net of allowance for loan losses | 7,522,452 | 4,771,046 | ||
Swaps | 944 | 3,211 | ||
Deposits: | ||||
Noninterest-bearing | 3,846,436 | |||
Interest-bearing | 3,885,672 | 2,700,417 | ||
Borrowings | 429,477 | 553,773 | ||
Junior subordinated debentures | 25,774 | 25,774 | ||
Swaps | 944 | 3,211 | ||
Estimated Fair Value [Member] | ||||
Assets | ||||
Total cash and cash equivalents | 194,475 | 144,377 | ||
Interest-earning balances due from depository institutions | 8,723 | 17,951 | ||
FHLB stock | 17,688 | |||
Investment securities available-for-sale | 1,806,231 | 2,080,985 | ||
Investment securities held-to-maturity | 726,755 | 819,215 | ||
Total loans, net of allowance for loan losses | 7,218,542 | 4,678,402 | ||
Swaps | 944 | 3,211 | ||
Deposits: | ||||
Noninterest-bearing | 3,846,436 | |||
Interest-bearing | 3,875,171 | 2,697,781 | ||
Borrowings | 429,092 | 553,416 | ||
Junior subordinated debentures | 21,218 | 18,070 | ||
Swaps | 944 | 3,211 | ||
Estimated Fair Value [Member] | Level 1 [Member] | ||||
Assets | ||||
Total cash and cash equivalents | 194,475 | 144,377 | ||
Interest-earning balances due from depository institutions | 0 | 0 | ||
FHLB stock | 0 | |||
Investment securities available-for-sale | 0 | 0 | ||
Investment securities held-to-maturity | 0 | 0 | ||
Total loans, net of allowance for loan losses | 0 | 0 | ||
Swaps | 0 | 0 | ||
Deposits: | ||||
Noninterest-bearing | 3,846,436 | |||
Interest-bearing | 0 | 0 | ||
Borrowings | 0 | 0 | ||
Junior subordinated debentures | 0 | 0 | ||
Swaps | 0 | 0 | ||
Estimated Fair Value [Member] | Level 2 [Member] | ||||
Assets | ||||
Total cash and cash equivalents | 0 | 0 | ||
Interest-earning balances due from depository institutions | 8,723 | 17,951 | ||
FHLB stock | 17,688 | |||
Investment securities available-for-sale | 1,806,231 | 2,080,985 | ||
Investment securities held-to-maturity | 726,755 | 819,215 | ||
Total loans, net of allowance for loan losses | 0 | 0 | ||
Swaps | 944 | 3,211 | ||
Deposits: | ||||
Noninterest-bearing | 0 | |||
Interest-bearing | 3,875,171 | 2,697,781 | ||
Borrowings | 429,092 | 553,416 | ||
Junior subordinated debentures | 0 | 0 | ||
Swaps | 944 | 3,211 | ||
Estimated Fair Value [Member] | Level 3 [Member] | ||||
Assets | ||||
Total cash and cash equivalents | 0 | 0 | ||
Interest-earning balances due from depository institutions | 0 | 0 | ||
FHLB stock | 0 | |||
Investment securities available-for-sale | 0 | 0 | ||
Investment securities held-to-maturity | 0 | 0 | ||
Total loans, net of allowance for loan losses | 7,218,542 | 4,678,402 | ||
Swaps | 0 | 0 | ||
Deposits: | ||||
Noninterest-bearing | 0 | |||
Interest-bearing | 0 | 0 | ||
Borrowings | 0 | 0 | ||
Junior subordinated debentures | 21,218 | 18,070 | ||
Swaps | $ 0 | $ 0 |
Derivative Financial Instrume_3
Derivative Financial Instruments - Additional Information (Detail) | Sep. 30, 2018USD ($)Agreement | Dec. 31, 2017USD ($) |
Derivative Instruments, Gain (Loss) [Line Items] | ||
Derivative assets and liabilities offset in balance sheet | $ 0 | |
Total notional amount of the Company's swaps | $ 204,100,000 | $ 198,500,000 |
Interest-rate Swap Agreements with Customers [Member] | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Number of interest-rate swap agreements | Agreement | 76 |
Derivative Financial Instrume_4
Derivative Financial Instruments - Fair Value of Derivative Instruments (Detail) - Derivatives Not Designated as Hedging Instruments [Member] - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
Other Assets [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Asset Derivatives | $ 944 | $ 3,211 |
Other Assets [Member] | Interest Rate Swaps [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Asset Derivatives | 944 | 3,211 |
Other Liabilities [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Liability Derivatives | 944 | 3,211 |
Other Liabilities [Member] | Interest Rate Swaps [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Liability Derivatives | $ 944 | $ 3,211 |
Derivative Financial Instrume_5
Derivative Financial Instruments - Effect of Derivative Instruments on Consolidated Statement of Earnings (Detail) - Derivatives Not Designated as Hedging Instruments [Member] - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Derivatives, Fair Value [Line Items] | ||||
Amount of Gain Recognized in Income on Derivative Instruments | $ 73 | $ 198 | $ 340 | $ 592 |
Interest Rate Swaps [Member] | Other Income [Member] | ||||
Derivatives, Fair Value [Line Items] | ||||
Amount of Gain Recognized in Income on Derivative Instruments | $ 73 | $ 198 | $ 340 | $ 592 |
Other Comprehensive Income - Su
Other Comprehensive Income - Summary of Components of Other Comprehensive Income (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Equity [Abstract] | ||||
Net change in fair value recorded in accumulated OCI, Before-tax | $ (10,235) | $ 2,083 | $ (47,346) | $ 6,128 |
Net change in fair value recorded in accumulated OCI, Tax effect | 3,025 | (875) | 13,997 | (2,574) |
Net change in fair value recorded in accumulated OCI, After-tax | (7,210) | 1,208 | (33,349) | 3,554 |
Amortization of unrealized gains (losses) on securities transferred from available-for-sale to held-to-maturity, Before-tax | (152) | (862) | (1,809) | (2,841) |
Amortization of unrealized gains (losses) on securities transferred from available-for-sale to held-to-maturity, Tax effect | 45 | 362 | 535 | 1,193 |
Amortization of unrealized gains (losses) on securities transferred from available-for-sale to held-to-maturity, After-tax | (107) | (500) | (1,274) | (1,648) |
Net realized gain reclassified into earnings, Before-tax | 0 | 0 | 0 | (402) |
Net realized gain reclassified into earnings, Tax Effect | 0 | 0 | 0 | 169 |
Net realized gain reclassified into earnings, After-Tax | 0 | 0 | 0 | (233) |
Net change, Before-tax | (10,387) | 1,221 | (49,155) | 2,885 |
Net change, Tax effect | (3,070) | 513 | (14,532) | 1,212 |
Other comprehensive income (loss), net of tax | $ (7,317) | $ 708 | $ (34,623) | $ 1,673 |
Balance Sheet Offsetting - Sche
Balance Sheet Offsetting - Schedule of Balance Sheet Offsetting (Detail) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
Offsetting Assets Liabilities [Line Items] | ||
Financial liabilities, Gross Amounts Recognized in the Condensed Consolidated Balance Sheets | $ 406,274 | $ 558,268 |
Financial liabilities, Gross Amounts Offset in the Condensed Consolidated Balance Sheets | (5,853) | (1,284) |
Financial liabilities, Net Amounts of Assets presented in the Condensed Consolidated Balance Sheets | 400,421 | 556,984 |
Financial liabilities, Gross Amounts Not Offset in the Condensed Consolidated Balance Sheets, Financial Instruments | 5,853 | 1,284 |
Financial liabilities, Gross Amounts Not Offset in the Condensed Consolidated Balance Sheets, Collateral Pledged | (441,848) | (586,519) |
Financial liabilities, Gross Amounts Not Offset in the Condensed Consolidated Balance Sheets, Net Amount | (35,574) | (28,251) |
Repurchase Agreements [Member] | ||
Offsetting Assets Liabilities [Line Items] | ||
Financial liabilities, Gross Amounts Recognized in the Condensed Consolidated Balance Sheets | 399,477 | 553,773 |
Financial liabilities, Gross Amounts Offset in the Condensed Consolidated Balance Sheets | 0 | 0 |
Financial liabilities, Net Amounts of Assets presented in the Condensed Consolidated Balance Sheets | 399,477 | 553,773 |
Financial liabilities, Gross Amounts Not Offset in the Condensed Consolidated Balance Sheets, Financial Instruments | 0 | 0 |
Financial liabilities, Gross Amounts Not Offset in the Condensed Consolidated Balance Sheets, Collateral Pledged | (441,848) | (573,759) |
Financial liabilities, Gross Amounts Not Offset in the Condensed Consolidated Balance Sheets, Net Amount | (42,371) | (19,986) |
Interest Rate Swaps [Member] | ||
Offsetting Assets Liabilities [Line Items] | ||
Financial assets, Gross Amounts Recognized in the Condensed Consolidated Balance Sheets | 944 | 3,211 |
Financial assets, Gross Amounts Offset in the Condensed Consolidated Balance Sheets | 0 | 0 |
Financial assets, Net Amounts of Assets presented in the Condensed Consolidated Balance Sheets | 0 | 0 |
Financial assets, Gross Amounts Not Offset in the Condensed Consolidated Balance Sheets, Financial Instruments | 944 | 3,211 |
Financial assets, Gross Amounts Not Offset in the Condensed Consolidated Balance Sheets, Collateral Pledged | 0 | 0 |
Financial assets, Gross Amounts Not Offset in the Condensed Consolidated Balance Sheets, Net Amount | 944 | 3,211 |
Interest Rate Swaps [Member] | Derivatives Not Designated as Hedging Instruments [Member] | ||
Offsetting Assets Liabilities [Line Items] | ||
Financial assets, Gross Amounts Recognized in the Condensed Consolidated Balance Sheets | 944 | 3,211 |
Financial assets, Gross Amounts Offset in the Condensed Consolidated Balance Sheets | 0 | 0 |
Financial assets, Net Amounts of Assets presented in the Condensed Consolidated Balance Sheets | 0 | 0 |
Financial assets, Gross Amounts Not Offset in the Condensed Consolidated Balance Sheets, Financial Instruments | 944 | 3,211 |
Financial assets, Gross Amounts Not Offset in the Condensed Consolidated Balance Sheets, Collateral Pledged | 0 | 0 |
Financial assets, Gross Amounts Not Offset in the Condensed Consolidated Balance Sheets, Net Amount | 944 | 3,211 |
Financial liabilities, Gross Amounts Recognized in the Condensed Consolidated Balance Sheets | 6,797 | 4,495 |
Financial liabilities, Gross Amounts Offset in the Condensed Consolidated Balance Sheets | (5,853) | (1,284) |
Financial liabilities, Net Amounts of Assets presented in the Condensed Consolidated Balance Sheets | 944 | 3,211 |
Financial liabilities, Gross Amounts Not Offset in the Condensed Consolidated Balance Sheets, Financial Instruments | 5,853 | 1,284 |
Financial liabilities, Gross Amounts Not Offset in the Condensed Consolidated Balance Sheets, Collateral Pledged | 0 | (12,760) |
Financial liabilities, Gross Amounts Not Offset in the Condensed Consolidated Balance Sheets, Net Amount | $ 6,797 | $ (8,265) |
Revenue Recognition - Summary o
Revenue Recognition - Summary of Non Interest Income, Segregated by Revenue Streams in-Scope and Out-of-Scope of Topic 606 (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Noninterest income: | ||||
Gain on OREO, net | $ 2 | $ 3,540 | $ 4 | |
Other | $ 1,824 | 1,809 | 4,393 | 4,839 |
Total noninterest income | 10,112 | 10,038 | 32,723 | 29,536 |
Service Charges on Deposit Accounts [Member] | ||||
Noninterest income: | ||||
Revenue from contract with customer | 4,295 | 4,085 | 12,431 | 11,794 |
Trust and Investment Services [Member] | ||||
Noninterest income: | ||||
Revenue from contract with customer | 2,182 | 2,523 | 6,738 | 7,432 |
Bankcard Services [Member] | ||||
Noninterest income: | ||||
Revenue from contract with customer | 875 | 927 | 2,637 | 2,563 |
Accounting Standards Update 2014-09 [Member] | ||||
Noninterest income: | ||||
Gain on OREO, net | 2 | 3,540 | 4 | |
Other | 1,824 | 1,267 | 4,393 | 3,895 |
Total noninterest income | 9,176 | 8,804 | 29,739 | 25,688 |
Accounting Standards Update 2014-09 [Member] | Service Charges on Deposit Accounts [Member] | ||||
Noninterest income: | ||||
Revenue from contract with customer | 4,295 | 4,085 | 12,431 | 11,794 |
Accounting Standards Update 2014-09 [Member] | Trust and Investment Services [Member] | ||||
Noninterest income: | ||||
Revenue from contract with customer | 2,182 | 2,523 | 6,738 | 7,432 |
Accounting Standards Update 2014-09 [Member] | Bankcard Services [Member] | ||||
Noninterest income: | ||||
Revenue from contract with customer | 875 | 927 | 2,637 | 2,563 |
Accounting Standards Update 2014-09 Not Adopted [Member] | ||||
Noninterest income: | ||||
Total noninterest income | $ 936 | $ 1,234 | $ 2,984 | $ 3,848 |