Document and Entity Information
Document and Entity Information - USD ($) | 6 Months Ended | |
Jun. 30, 2017 | Aug. 04, 2017 | |
Document and Entity Information [Abstract] | ||
Entity Registrant Name | FIRST MID ILLINOIS BANCSHARES INC | |
Entity Central Index Key | 700,565 | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Accelerated Filer | |
Entity Well-known Seasoned Issuer | No | |
Entity Voluntary Filers | No | |
Entity Current Reporting Status | Yes | |
Entity Public Float | $ 343,528,706 | |
Document Fiscal Year Focus | 2,017 | |
Document Fiscal Period Focus | Q2 | |
Document Type | 10-Q | |
Amendment Flag | false | |
Entity Common Stock, Shares Outstanding | 12,513,872 | |
Document Period End Date | Jun. 30, 2017 |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Deposits: | ||
Non-interest bearing | $ 425,344 | $ 471,206 |
Interest bearing | 1,864,062 | 1,858,681 |
Total deposits | 2,289,406 | 2,329,887 |
Cash and due from banks: | ||
Non-interest bearing | 53,124 | 57,988 |
Interest bearing | 20,274 | 79,014 |
Federal funds sold | 491 | 38,900 |
Cash and cash equivalents | 73,889 | 175,902 |
Certificates of deposit investments | 1,685 | 14,643 |
Investment securities: | ||
Available-for-sale, at fair value | 682,140 | 619,848 |
Held-to-maturity, at amortized cost (estimated fair value of $74,224 and $73,096 at June 30, 2017 and December 31, 2016, respectively) | 74,281 | 74,231 |
Loans held for sale | 1,932 | 1,175 |
Loans | 1,823,702 | 1,824,817 |
Less allowance for loan losses | (18,209) | (16,753) |
Net loans | 1,805,493 | 1,808,064 |
Interest receivable | 9,620 | 10,553 |
Other real estate owned | 2,689 | 1,982 |
Premises and equipment, net | 39,076 | 40,292 |
Goodwill, net | 57,791 | 57,791 |
Intangible assets, net | 11,726 | 12,832 |
Bank Owned Life Insurance | 41,881 | 41,318 |
Other assets | 23,101 | 25,904 |
Total assets | 2,825,304 | 2,884,535 |
Liabilities and Stockholders' Equity | ||
Securities sold under agreements to repurchase | 142,411 | 185,763 |
Interest payable | 502 | 535 |
Federal Home Loan Bank Advances Short and Long Term | 45,066 | 40,094 |
Other borrowings | 12,188 | 18,063 |
Junior subordinated debentures | 23,959 | 23,917 |
Other liabilities | 10,881 | 5,603 |
Total liabilities | 2,524,413 | 2,603,862 |
Stockholders' Equity | ||
Common stock, $4 par value; authorized 18,000,000 shares; issued 13,055,615 and 13,020,742 shares in 2017 and 2016, respectively | 54,222 | 54,083 |
Additional paid-in capital | 160,123 | 158,671 |
Retained earnings | 96,686 | 86,216 |
Deferred compensation | 2,736 | 3,201 |
Accumulated other comprehensive income (loss) | 2,649 | (5,761) |
Less treasury stock at cost, 549,743 shares in 2017 and 2016 | (15,525) | (15,737) |
Total stockholders’ equity | 300,891 | 280,673 |
Total liabilities and stockholders’ equity | $ 2,825,304 | $ 2,884,535 |
Condensed Consolidated Balance3
Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Investment securities: | ||
Held-to-maturity, at fair value | $ 74,224 | $ 73,096 |
Stockholders Equity | ||
Common stock, par value (in dollars per share) | $ 4 | $ 4 |
Common stock, authorized (in shares) | 18,000,000 | 18,000,000 |
Common stock, issued (in shares) | 13,055,615 | 13,020,742 |
Treasury stock (in shares) | 549,743 | 549,743 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Income (unaudited) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
Income Statement [Abstract] | ||||
Interest on other borrowings | $ 119 | $ 3 | $ 242 | $ 3 |
Interest income: | ||||
Interest and fees on loans | 21,025 | 13,610 | 40,952 | 27,202 |
Interest on investment securities | 4,366 | 3,172 | 8,406 | 6,393 |
Interest on certificates of deposit investments | 7 | 83 | 32 | 156 |
Interest on federal funds sold | 0 | 1 | 61 | 1 |
Interest on deposits with other financial institutions | 48 | 17 | 177 | 110 |
Total interest income | 25,446 | 16,883 | 49,628 | 33,862 |
Interest expense: | ||||
Interest on deposits | 933 | 575 | 1,812 | 1,154 |
Interest on securities sold under agreements to repurchase | 46 | 21 | 86 | 39 |
Interest on FHLB borrowings | 168 | 165 | 319 | 315 |
Interest on subordinated debentures | 227 | 149 | 444 | 294 |
Total interest expense | 1,493 | 913 | 2,903 | 1,805 |
Net interest income | 23,953 | 15,970 | 46,725 | 32,057 |
Provision for loan losses | 1,840 | 733 | 3,562 | 846 |
Net interest income after provision for loan losses | 22,113 | 15,237 | 43,163 | 31,211 |
Other income: | ||||
Trust revenues | 841 | 794 | 1,771 | 1,775 |
Brokerage commissions | 509 | 466 | 1,014 | 914 |
Insurance commissions | 853 | 735 | 2,478 | 2,068 |
Service charges | 1,690 | 1,644 | 3,402 | 3,153 |
Securities gains, net | 335 | 404 | 335 | 664 |
Mortgage banking revenue, net | 335 | 238 | 528 | 333 |
ATM / debit card revenue | 1,665 | 1,472 | 3,233 | 2,961 |
Bank Owned Life Insurance Income | 282 | 174 | 563 | 183 |
Other | 1,459 | 532 | 2,141 | 1,052 |
Total other income | 7,969 | 6,459 | 15,465 | 13,103 |
Other expense: | ||||
Salaries and employee benefits | 10,102 | 7,602 | 20,037 | 15,449 |
Net occupancy and equipment expense | 3,116 | 2,646 | 6,249 | 5,525 |
Net Other Real Estate Owned (Income) Expense | 127 | 10 | 145 | (9) |
FDIC insurance | 290 | 281 | 469 | 547 |
Amortization of intangible assets | 559 | 402 | 1,106 | 857 |
Stationery and supplies | 186 | 190 | 371 | 391 |
Legal and professional | 894 | 917 | 1,725 | 1,701 |
Marketing and donations | 277 | 239 | 571 | 1,201 |
Other | 2,404 | 1,856 | 6,484 | 3,652 |
Total other expense | 17,955 | 14,143 | 37,157 | 29,314 |
Income before income taxes | 12,127 | 7,553 | 21,471 | 15,000 |
Income taxes | 3,927 | 2,624 | 7,007 | 5,265 |
Net income | 8,200 | 4,929 | 14,464 | 9,735 |
Dividends on preferred shares | 0 | 275 | 0 | 825 |
Net income available to common stockholders | $ 8,200 | $ 4,654 | $ 14,464 | $ 8,910 |
Per share data: | ||||
Basic earnings per common share | $ 0.66 | $ 0.51 | $ 1.16 | $ 1.01 |
Diluted net income per common share available to common stockholders | 0.66 | 0.50 | 1.16 | 0.99 |
Common Stock, Dividends, Per Share, Declared | $ 0.32 | $ 0.30 | $ 0.32 | $ 0.30 |
Condensed Consolidated Stateme5
Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
Statement of Comprehensive Income [Abstract] | ||||
Net income | $ 8,200 | $ 4,929 | $ 14,464 | $ 9,735 |
Other Comprehensive Income [Abstract] | ||||
Unrealized gains on available-for-sale securities, net of taxes of $(3,444) and $(1,345) for three months ended June 30, 2017 and 2016, respectively and $(5,481) and $(3,009) for six months ended June 30, 2017 and 2016, respectively. | 5,391 | 2,103 | 8,580 | 4,709 |
Amortized holding losses on held-to-maturity securities transferred from available-for-sale, net of taxes of $(11) and $(81) for three months ended June 30, 2017 and 2016, respectively and $(22) and $(150) for six months ended June 30, 2017 and 2016, respectively. | 17 | 128 | 34 | 235 |
Less: reclassification adjustment for realized gains included in net income, net of taxes of $131 and $157 for three months ended June 30, 2017 and 2016, respectively and $131 and $259 for six months ended June 30, 2017 and 2016, respectively. | (204) | (247) | (204) | (405) |
Other comprehensive income, net of taxes | 5,204 | 1,984 | 8,410 | 4,539 |
Comprehensive income | $ 13,404 | $ 6,913 | $ 22,874 | $ 14,274 |
Condensed Consolidated Stateme6
Condensed Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
Other Comprehensive Income [Abstract] | ||||
Unrealized gains on available-for-sale securities, taxes | $ (3,444) | $ (1,345) | $ (5,481) | $ (3,009) |
Unamortized holding losses on held to maturity securities transferred from available for sale, taxes | (11) | (81) | (22) | (150) |
Other Comprehensive Income Loss Reclassification Adjustment For Sale Or Writedown Of Securities Included In Net Income Tax | $ 131 | $ 157 | $ 131 | $ 259 |
Condensed Consolidated Stateme7
Condensed Consolidated Statements of Cash Flows (unaudited) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2017 | Jun. 30, 2016 | |
Cash flows from operating activities: | ||
Net income | $ 14,464 | $ 9,735 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Provision for loan losses | 3,562 | 846 |
Depreciation, amortization and accretion, net | 4,124 | 3,566 |
Life Insurance, Corporate or Bank Owned, Change in Value | (563) | (183) |
Stock-based compensation expense | 129 | 178 |
Gains on investment securities, net | (335) | (664) |
(Gain) Loss on sales of other real property owned, net | 30 | (22) |
Gain (Loss) on Disposition of Property Plant Equipment | 0 | 653 |
Loss on write down of fixed assets | 1 | 24 |
Gains on sale of loans held for sale, net | (507) | (382) |
Decrease in accrued interest receivable | 933 | 786 |
(Decrease) increase in accrued interest payable | (19) | 29 |
Origination of loans held for sale | (32,256) | (29,111) |
Proceeds from sale of loans held for sale | 32,006 | 29,115 |
Increase in other assets | (2,353) | (2,329) |
Increase in other liabilities | 5,269 | 271 |
Net cash provided by operating activities | 24,485 | 12,512 |
Cash flows from investing activities: | ||
Proceeds from maturities of certificates of deposit investments | 12,958 | 7,651 |
Purchases of certificates of deposit investments | 0 | 12,958 |
Proceeds from sales of securities available-for-sale | 28,140 | 38,241 |
Purchases of securities held-to-maturity | 0 | 29,993 |
Proceeds from maturities of securities available-for-sale | 31,105 | 50,952 |
Purchases of securities available-for-sale | (109,166) | (64,681) |
Purchases of securities held-to-maturity | 0 | (56,565) |
Net increase in loans | (6,162) | (33,294) |
Proceeds from Sale of Property, Plant, and Equipment | 0 | 147 |
Purchases of premises and equipment | (741) | (280) |
Proceeds from sales of other real property owned | 5,068 | 179 |
Payments to Acquire Life Insurance Policies | 0 | (25,000) |
Net cash used in investing activities | (38,798) | (65,615) |
Cash flows from financing activities: | ||
Net decrease in deposits | (40,481) | (28,369) |
Increase (decrease) in repurchase agreements | (43,352) | 2,257 |
Proceeds from FHLB advances | 10,000 | 20,000 |
Repayment of FHLB advances | 5,000 | 0 |
Repayment of other borrowings | 5,875 | 0 |
Proceeds from issuance of common stock | 475 | 47 |
Dividends paid on preferred stock | 0 | 1,286 |
Dividends paid on common stock | 3,467 | 2,258 |
Net cash used in financing activities | (87,700) | (9,609) |
Decrease in cash and cash equivalents | (102,013) | (62,712) |
Cash and cash equivalents at beginning of period | 175,902 | 115,784 |
Cash and cash equivalents at end of period | 73,889 | 53,072 |
Cash paid during the period for: | ||
Interest | 2,936 | 1,776 |
Income taxes | 4,198 | 6,835 |
Supplemental disclosures of noncash investing and financing activities | ||
Loans Transferred to Other Real Estate Owned | 5,171 | 116 |
Dividends reinvested in common stock | 527 | 774 |
Net tax benefit related to option and deferred compensation plans | $ 216 | $ 140 |
Basis of Accounting and Consoli
Basis of Accounting and Consolidation | 6 Months Ended |
Jun. 30, 2017 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Basis of accounting and consolidation | Basis of Accounting and Consolidation The unaudited condensed consolidated financial statements include the accounts of First Mid-Illinois Bancshares, Inc. (“Company”) and its wholly-owned subsidiaries: First Mid-Illinois Bank & Trust, N.A. (“First Mid Bank”), Mid-Illinois Data Services, Inc. (“MIDS”) and The Checkley Agency, Inc. doing business as First Mid Insurance Group (“First Mid Insurance”). All significant intercompany balances and transactions have been eliminated in consolidation. The financial information reflects all adjustments which, in the opinion of management, are necessary for a fair presentation of the results of the interim periods ended June 30, 2017 and 2016 , and all such adjustments are of a normal recurring nature. Certain amounts in the prior year’s consolidated financial statements have been reclassified to conform to the June 30, 2017 presentation and there was no impact on net income or stockholders’ equity. The results of the interim period ended June 30, 2017 are not necessarily indicative of the results expected for the year ending December 31, 2017 . The Company operates as a one-segment entity for financial reporting purposes. The 2016 year-end consolidated balance sheet data was derived from audited financial statements, but does not include all disclosures required by accounting principles generally accepted in the United States of America. The unaudited condensed consolidated financial statements have been prepared in accordance with the instructions to Form 10-Q and Article 10 of Regulation S-X and do not include all of the information required by U.S. generally accepted accounting principles (“GAAP”) for complete financial statements and related footnote disclosures although the Company believes that the disclosures made are adequate to make the information not misleading. These financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in the Company’s 2016 Annual Report on Form 10-K. Website The Company maintains a website at www.firstmid.com . All periodic and current reports of the Company and amendments to these reports filed with the Securities and Exchange Commission (“SEC”) can be accessed, free of charge, through this website as soon as reasonably practicable after these materials are filed with the SEC. Agreement and Plan of Merger On April 26, 2016, the Company entered into an Agreement and Plan of Merger (the "Merger Agreement") with First Clover Leaf Financial Corp., a Maryland corporation ("First Clover Leaf"), pursuant to which, amongst other things, the Company agreed to acquire 100% of the issued and outstanding shares of First Clover Leaf pursuant to a business combination whereby First Clover Leaf would merge with and into the Company, with the Company as the surviving entity (the "Merger"). On September 8, 2016, the effective time of the Merger, 25% of the shares of First Clover Leaf common stock issued and outstanding immediately prior to the effective time of the Merger converted into the right to receive $12.87 per share, for an approximate aggregate total of $22,545,000 , and 75% of the shares of First Clover Leaf common stock issued and outstanding immediately prior to the effective time of the Merger converted into the right to receive 0.495 shares of the Company’s common stock, par value $4.00 per share, for an approximate aggregate total of 2,600,616 shares of the Company’s common stock. Cash in lieu of fractional shares of Company common stock were issued in connection with the Merger. Preferred Stock On May 16, 2016, the Company completed the mandatory conversion of the Series C Preferred Stock. The conversion ratio for each share of the Series C Preferred Stock was computed by dividing $5,000 (the issuance price per share of the Series C Preferred Stock) by $20.29 (the conversion price). The conversion ratio, therefore, was 246.427 shares of the Company's common stock for each share of Series C Preferred Stock. This resulted in the issuance of approximately 1,355,319 shares of common stock in the aggregate. As a result of the conversion, dividends ceased to accrue on the Series C Preferred Stock and certificates for shares of Series C Preferred Stock only represent the right to receive the appropriate number of shares of common stock, together with net accrued but unpaid dividends on the Series C Preferred Stock, and cash in lieu of fractional share interests. Bank Owned Life Insurance First Mid Bank has purchased life insurance policies on certain senior management. Bank owned life insurance is recorded at the amount that can be realized under the insurance contract at the balance sheet date, which is the cash surrender value adjusted for other charges or other amounts that are probable at settlement. Stock Plans At the Annual Meeting of Stockholders held April 26, 2017, the stockholders approved the First Mid-Illinois Bancshares, Inc. 2017 Stock Incentive Plan (“SI Plan”). The SI Plan was implemented to succeed the Company’s 2007 Stock Incentive Plan, which had a ten-year term. The SI Plan is intended to provide a means whereby directors, employees, consultants and advisors of the Company and its subsidiaries may sustain a sense of proprietorship and personal involvement in the continued development and financial success of the Company and its subsidiaries, thereby advancing the interests of the Company and its stockholders. Accordingly, directors and selected employees, consultants and advisors may be provided the opportunity to acquire shares of common stock of the Company on the terms and conditions established in the SI Plan. A maximum of 149,983 shares of common stock may be issued under the SI Plan. There have been no stock options awarded since 2008. The Company awarded 11,473 and 13,912 stock units during 2017 and 2016, respectively, under the 2007 Stock Incentive Plan. Accumulated Other Comprehensive Income (Loss) The components of accumulated other comprehensive income (loss) included in stockholders’ equity as of June 30, 2017 and December 31, 2016 are as follows (in thousands): Unrealized Gain (Loss) on Securities Securities with Other-Than-Temporary Impairment Losses Total June 30, 2017 Net unrealized gains on securities available-for-sale $ 5,229 $ — $ 5,229 Unamortized losses on held-to-maturity securities transferred from available-for-sale (338 ) — (338 ) Securities with other-than-temporary impairment losses — (550 ) (550 ) Tax benefit (expense) (1,906 ) 214 (1,692 ) Balance at June 30, 2017 $ 2,985 $ (336 ) $ 2,649 December 31, 2016 Net unrealized losses on securities available-for-sale $ (7,649 ) $ — $ (7,649 ) Unamortized losses on held-to-maturity securities transferred from available-for-sale (394 ) — (394 ) Securities with other-than-temporary impairment losses — (1,398 ) (1,398 ) Tax benefit 3,135 545 3,680 Balance at December 31, 2016 $ (4,908 ) $ (853 ) $ (5,761 ) Amounts reclassified from accumulated other comprehensive income and the affected line items in the statements of income during the six months ended June 30, 2017 and 2016 , were as follows (in thousands): Amounts Reclassified from Other Comprehensive Income Affected Line Item in the Statements of Income Three months ended June 30, Six months ended June 30, 2017 2016 2017 2016 Realized gains on available-for-sale securities $ 335 $ 404 $ 335 $ 664 Securities gains, net (Total reclassified amount before tax) (131 ) (157 ) (131 ) (259 ) Income taxes Total reclassifications out of accumulated other comprehensive income $ 204 $ 247 $ 204 $ 405 Net reclassified amount See “Note 3 – Investment Securities” for more detailed information regarding unrealized losses on available-for-sale securities. |
Consolidation | The unaudited condensed consolidated financial statements include the accounts of First Mid-Illinois Bancshares, Inc. (“Company”) and its wholly-owned subsidiaries: First Mid-Illinois Bank & Trust, N.A. (“First Mid Bank”), Mid-Illinois Data Services, Inc. (“MIDS”) and The Checkley Agency, Inc. doing business as First Mid Insurance Group (“First Mid Insurance”). All significant intercompany balances and transactions have been eliminated in consolidation. The financial information reflects all adjustments which, in the opinion of management, are necessary for a fair presentation of the results of the interim periods ended June 30, 2017 and 2016 , and all such adjustments are of a normal recurring nature. Certain amounts in the prior year’s consolidated financial statements have been reclassified to conform to the June 30, 2017 presentation and there was no impact on net income or stockholders’ equity. The results of the interim period ended June 30, 2017 are not necessarily indicative of the results expected for the year ending December 31, 2017 . The Company operates as a one-segment entity for financial reporting purposes. The 2016 year-end consolidated balance sheet data was derived from audited financial statements, but does not include all disclosures required by accounting principles generally accepted in the United States of America. The unaudited condensed consolidated financial statements have been prepared in accordance with the instructions to Form 10-Q and Article 10 of Regulation S-X and do not include all of the information required by U.S. generally accepted accounting principles (“GAAP”) for complete financial statements and related footnote disclosures although the Company believes that the disclosures made are adequate to make the information not misleading. These financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in the Company’s 2016 Annual Report on Form 10-K. |
Adoption of new accounting guidance | Adoption of New Accounting Guidance Accounting Standards Update 2017-09, Compensation-Stock Compensation (Topic 718): Scope of Modification ("ASU 2017-09"). In May 2017, FASB issued ASU 2017-09. This update provides guidance on determining which changes to the terms and conditions of share-based payment awards require the application of modification accounting under Topic 718. The guidance is effective for public companies for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2017. Early adoption is permitted, including adoption in an interim period. The amendments should be applied on a prospective basis to an award modified on or after adoption date. ASU 2017-09 is not expected to have a significant impact on the Company's consolidated financial statement. Accounting Standards Update 2017-08, Receivables-Nonrefundable Fees and Other Costs ("ASU 2017-08"). In March 2017, FASB issued ASU 2017-08. This update amends the amortization period for certain purchased callable debt securities held at a premium. The update shortens the premium's amortization period to the earliest call date to more closely align the amortization period of premiums to expectations incorporated in market pricing on the underlying securities. For public companies, the update is effective for annual periods beginning after December 15, 2018, and is to be applied on a modified retrospective basis with a cumulative-effect adjustment directly to retained earnings as of the beginning of the adoption period. Early adoption is permitted, including adoption in an interim period. The Company has adopted ASU 2017-08 early and there was not a significant impact on the Company's consolidated financial statements. Accounting Standards Update 2017-04, Intangibles--Goodwill and Other (Topic 350: Simplifying the Test for Goodwill Impairment ("ASU 2017-04"). In January 2017, FASB issued ASU 2017-04. The amendments in this update simplify the measurement of goodwill by eliminating Step 2 from the goodwill impairment test. Under this guidance, an entity should perform its annual, or interim, goodwill impairment test by comparing the fair value of a reporting unit with its carrying amount. An entity should recognize an impairment charge for the amount by which the carrying amount exceeds the reporting unit's fair value; however, the loss should not exceed the total amount of goodwill allocated to that reporting unit. ASU 2017-04 is effective for public companies for the reporting periods beginning after December 15, 2019. Early adoption is permitted for interim or annual goodwill impairment tests performed on testing dates after January 1, 2017. Although the Company cannot anticipate future goodwill impairment, based on the most recent assessment, it is unlikely that an impairment amount would need to be calculated and, therefore, does not anticipate a material impact on the Company's consolidated financial statements. The current accounting policies and procedures of the Company are not anticipated to change, except for the elimination of the Step 2 analysis. Accounting Standards Update 2016-13, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses of Financial Instruments (“ASU 2016-13”). In June 2016, FASB issued ASU 2016-13. The provisions of ASU 2016-13 requires an entity to utilize a new impairment model known as the current expected credit loss ("CECL") model to estimate its lifetime "expected credit loss" and record an allowance that, when deducted from the amortized cost basis of the financial asset, presents the net amount expected to be collected on the financial asset. The CECL model is expected to result in more timely recognition of credit losses. ASU 2016-13 also requires new disclosures for financial assets measured at amortized cost, loans and available-for-sale debt securities. ASU 2016-13 is effective for annual periods beginning after December 15, 2019, including interim periods within those fiscal years. Entities will apply the standard's provisions as a cumulative-effect adjustment to retained earnings as of the beginning of the first reporting period in which the guidance is adopted. Management has formed an internal committee to evaluate implementation steps and assess the impact ASU 2016-13 will have on the Company’s consolidated financial statements. Accounting Standards Update 2016-08, Revenue from Contracts with Customers (Topic 606) (“ASU 2016-08"). In March 2016, the FASB issued ASU 2016-08 which amended the accounting guidance issued by the FASB in May 2014 that revised the criteria for determining when to recognize revenue from contracts with customers and expanded disclosure requirements. The amendment defers the effective date by one year. This accounting guidance can be implemented using either a retrospective method or a cumulative-effect approach. This new guidance will be effective for interim and annual reporting periods beginning after December 15, 2018. Early adoption is permitted but only for interim and annual reporting periods beginning after December 15, 2016. There are many aspects of the new accounting guidance that are still being interpreted, and the FASB has recently issued and proposed updates to certain aspects of the guidance. Management continues to evaluate the impact ASU 2016-08 will have on the Company’s consolidated financial statements. Accounting Standards Update 2016-02, Leases (Topic 842)("ASU 2016-02"). On February 25, 2016, FASB issued ASU 2016-02 which creates Topic 842, Leases and supersedes Topic 840, Leases. ASU 2016-02 is intended to improve financial reporting about leasing transactions, by increasing transparency and comparability among organizations. Under the new guidance, a lessee will be required to record all leases with lease terms of more than 12 months on their balance sheet as lease liabilities with a corresponding right-of-use asset. ASU 2016-02 maintains the dual model for lease accounting, requiring leases to be classified as either operating or finance, with lease classification determined in a manner similar to existing lease guidance. The new guidance will be effective for public companies for fiscal years beginning on or after December 15, 2018, and for private companies for fiscal years beginning on or after December 15, 2019. Early adoption is permitted for all entities. Management continues to evaluate the impact ASU 2016-02 will have on the Company's consolidated financial statements. Accounting Standards Update 2016-01, Financial Instruments (Topic 825): Recognition and Measurement of Financial Assets and Financial Liabilities ("ASU 2016-01"). In January 2016, FASB issued ASU 2016-01 which amends prior guidance to require an entity to measure its equity investments (except those accounted for under the equity method of accounting) to be measured at fair value with changes in fair value recognized in net income. An entity may choose to measure equity investments that do not have readily determinable fair values at cost minus impairment, if any, plus or minus changes resulting from observable price changes in orderly transactions for the identical or similar investment of same issuer. The new guidance simplifies the impairment assessment of equity investments without readily determinable fair values, requires public entities to use the exit price notion when measuring fair value of financial instruments for disclosure purposes, requires an entity to present separately in other comprehensive income the portion of the total change in fair value of a liability resulting from changes in the instrument-specific credit risk when the entity has selected fair value option for financial instruments and requires separate presentation of financial assets and liabilities by measurement category and form of financial asset. The new guidance will be effective for reporting periods after January 1, 2018 and is not expected to have a significant impact on the Company's consolidated financial statements. Accounting Standards Update 2014-09, Revenue from Contracts with Customers (Topic 606): ("ASU 2014-09"). In May 2014, FASB issued ASU 2014-09 which created a new topic in the FASB Accounting Standards Codification(R) ("ASC"), Topic 606. In addition to superseding and replacing nearly all existing U.S. GAAP revenue recognition guidance, including industry-specific guidance, ASU 2014-09 establishes a new control-based revenue recognition model, changes the basis for deciding when revenue is recognized over time or at a point in time, provides new and more detailed guidance on specific topics and expands and improves disclosures about revenue. In addition, ASU 2014-09 adds a new Subtopic to the ASC, Other Assets and Deferred Costs: Contracts with Customers ("ASC 340-40"), to provide guidance on costs related to obtaining a contract with a customer and costs incurred in fulfilling a contract with a customer that are not in the scope of another ASC Topic. The new guidance does not apply to certain contracts within the scope of other ASC Topics, such as lease contracts, insurance contracts, financing arrangements, financial instruments, guarantee other than product or service warranties, and non-monetary exchanges between entities in the same line of business to facilitate sales to customers. See ASU 2016-08 for the effective dates. |
Earnings Per Share
Earnings Per Share | 6 Months Ended |
Jun. 30, 2017 | |
Earnings Per Share [Abstract] | |
Earnings Per Share [Text Block] | Earnings Per Share Basic net income per common share available to common stockholders is calculated as net income less preferred stock dividends divided by the weighted average number of common shares outstanding. Diluted net income per common share available to common stockholders is computed using the weighted average number of common shares outstanding, increased by the assumed conversion of the Company’s convertible preferred stock and the Company’s stock options, unless anti-dilutive. The components of basic and diluted net income per common share available to common stockholders for the three and six -month period ended June 30, 2017 and 2016 were as follows: Three months ended June 30, Six months ended June 30, 2017 2016 2017 2016 Basic Net Income per Common Share Available to Common Stockholders: Net income $ 8,200,000 $ 4,929,000 $ 14,464,000 $ 9,735,000 Preferred stock dividends — (275,000 ) — (825,000 ) Net income available to common stockholders $ 8,200,000 $ 4,654,000 $ 14,464,000 $ 8,910,000 Weighted average common shares outstanding 12,491,757 9,152,709 12,483,788 8,804,107 Basic earnings per common share $ 0.66 $ 0.51 $ 1.16 $ 1.01 Diluted Net Income per Common Share Available to Common Stockholders: Net income available to common stockholders $ 8,200,000 $ 4,654,000 $ 14,464,000 $ 8,910,000 Effect of assumed preferred stock conversion — 275,000 — 825,000 Net income applicable to diluted earnings per share $ 8,200,000 $ 4,929,000 $ 14,464,000 $ 9,735,000 Weighted average common shares outstanding 12,491,757 9,152,709 12,483,788 8,804,107 Dilutive potential common shares: Assumed conversion of stock options — 1,864 — 2,045 Restricted stock awarded 836 5,232 836 5,232 Assumed conversion of preferred stock 7,338 685,067 7,338 1,020,207 Dilutive potential common shares 8,174 692,163 8,174 1,027,484 Diluted weighted average common shares outstanding 12,499,931 9,844,872 12,491,962 9,831,591 Diluted earnings per common share $ 0.66 $ 0.50 $ 1.16 $ 0.99 The following shares were not considered in computing diluted earnings per share for the three and six -month periods ended June 30, 2017 and 2016 because they were anti-dilutive: Three months ended June 30, Six months ended June 30, 2017 2016 2017 2016 Stock options to purchase shares of common stock — 24,500 — 24,500 |
Investment Securities
Investment Securities | 6 Months Ended |
Jun. 30, 2017 | |
Investments, Debt and Equity Securities [Abstract] | |
Investment Securities | Investment Securities The amortized cost, gross unrealized gains and losses and estimated fair values for available-for-sale and held-to-maturity securities by major security type at June 30, 2017 and December 31, 2016 were as follows (in thousands): Amortized Cost Gross Unrealized Gains Gross Unrealized (Losses) Fair Value June 30, 2017 Available-for-sale: U.S. Treasury securities and obligations of U.S. government corporations & agencies $ 143,014 $ 627 $ (1,068 ) $ 142,573 Obligations of states and political subdivisions 172,446 4,000 (434 ) 176,012 Mortgage-backed securities: GSE residential 354,993 2,967 (1,016 ) 356,944 Trust preferred securities 2,974 — (550 ) 2,424 Other securities 4,034 153 — 4,187 Total available-for-sale $ 677,461 $ 7,747 $ (3,068 ) $ 682,140 Held-to-maturity: U.S. Treasury securities and obligations of U.S. government corporations & agencies $ 74,281 $ 405 $ (462 ) $ 74,224 December 31, 2016 Available-for-sale: U.S. Treasury securities and obligations of U.S. government corporations & agencies $ 138,819 $ 13 $ (2,508 ) $ 136,324 Obligations of states and political subdivisions 164,163 1,346 (2,804 ) 162,705 Mortgage-backed securities: GSE residential 318,829 531 (4,369 ) 314,991 Trust preferred securities 3,050 — (1,398 ) 1,652 Other securities 4,034 147 (5 ) 4,176 Total available-for-sale $ 628,895 $ 2,037 $ (11,084 ) $ 619,848 Held-to-maturity: U.S. Treasury securities and obligations of U.S. government corporations & agencies $ 74,231 $ 203 $ (1,338 ) $ 73,096 Trust preferred securities represents one trust preferred pooled security issued by First Tennessee Financial (“FTN”). The unrealized loss of this security, which has a remaining maturity of twenty years , is primarily due to its long-term nature, a lack of demand or inactive market for the security, and concerns regarding the underlying financial institutions that have issued the trust preferred security. See the heading “Trust Preferred Securities” for further information regarding this security. Realized gains and losses resulting from sales of securities were as follows during the six months ended June 30, 2017 and 2016 (in thousands): Three months ended June 30, Six months ended June 30, 2017 2016 2017 2016 Gross gains $ 352 $ 404 $ 352 $ 664 Gross losses (17 ) — (17 ) — The following table indicates the expected maturities of investment securities classified as available-for-sale presented at fair value, and held-to-maturity presented at amortized cost, at June 30, 2017 and the weighted average yield for each range of maturities (dollars in thousands): One year or less After 1 through 5 years After 5 through 10 years After ten years Total Available-for-sale: U.S. Treasury securities and obligations of U.S. government corporations and agencies $ 80,317 $ 49,608 $ 12,648 $ — $ 142,573 Obligations of state and political subdivisions 18,742 85,828 69,484 1,958 176,012 Mortgage-backed securities: GSE residential 636 265,471 90,837 — 356,944 Trust preferred securities — — — 2,424 2,424 Other securities — 2,007 2,030 150 4,187 Total available-for-sale investments $ 99,695 $ 402,914 $ 174,999 $ 4,532 $ 682,140 Weighted average yield 2.14 % 2.49 % 2.62 % 2.65 % 2.47 % Full tax-equivalent yield 2.54 % 2.89 % 3.43 % 3.60 % 2.98 % Held to Maturity: U.S. Treasury securities and obligations of U.S. government corporations and agencies $ 44,993 $ 29,288 $ — $ — $ 74,281 Weighted average yield 1.79 % 2.08 % — % — % 1.90 % Full tax-equivalent yield 1.79 % 2.08 % — % — % 1.90 % The weighted average yields are calculated on the basis of the amortized cost and effective yields weighted for the scheduled maturity of each security. Tax-equivalent yields have been calculated using a 35% tax rate. With the exception of obligations of the U.S. Treasury and other U.S. government agencies and corporations, there were no investment securities of any single issuer, the book value of which exceeded 10% of stockholders' equity at June 30, 2017 . Investment securities carried at approximately $495 million and $509 million at June 30, 2017 and December 31, 2016 , respectively, were pledged to secure public deposits and repurchase agreements and for other purposes as permitted or required by law. The following table presents the aging of gross unrealized losses and fair value by investment category as of June 30, 2017 and December 31, 2016 (in thousands): Less than 12 months 12 months or more Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses June 30, 2017 Available-for-sale: U.S. Treasury securities and obligations of U.S. government corporations and agencies $ 81,271 $ (1,068 ) $ — $ — $ 81,271 $ (1,068 ) Obligations of states and political subdivisions 32,928 (434 ) — — 32,928 (434 ) Mortgage-backed securities: GSE residential 95,279 (797 ) 7,123 (219 ) 102,402 (1,016 ) Trust preferred securities — — 2,424 (550 ) 2,424 (550 ) Other securities — — — — — — Total $ 209,478 $ (2,299 ) $ 9,547 $ (769 ) $ 219,025 $ (3,068 ) Held-to-maturity: U.S. Treasury securities and obligations of U.S. government corporations and agencies $ 44,558 $ (462 ) $ — $ — $ 44,558 $ (462 ) December 31, 2016 Available-for-sale: U.S. Treasury securities and obligations of U.S. government corporations and agencies $ 125,257 $ (2,508 ) $ — $ — $ 125,257 $ (2,508 ) Obligations of states and political subdivisions 93,405 (2,804 ) — — 93,405 (2,804 ) Mortgage-backed securities: GSE residential 266,319 (4,099 ) 5,878 (270 ) 272,197 (4,369 ) Trust preferred securities — — 1,652 (1,398 ) 1,652 (1,398 ) Other securities — — 1,995 (5 ) 1,995 (5 ) Total $ 484,981 $ (9,411 ) $ 9,525 $ (1,673 ) $ 494,506 $ (11,084 ) Held-to-maturity: U.S. Treasury securities and obligations of U.S. government corporations and agencies $ 53,295 $ (1,338 ) $ — $ — $ 53,295 $ (1,338 ) U.S. Treasury Securities and Obligations of U.S. Government Corporations and Agencies. At June 30, 2017 and December 31, 2016 , there were no available-for sale U.S. Treasury securities and obligations of U.S. government corporations and agencies in a continuous unrealized loss position for twelve months or more. At June 30, 2017 and December 31, 2016 there were also no held-to-maturity U.S. Treasury securities and obligations of U.S. government corporations and agencies in a continuous unrealized loss position for twelve months or more. Obligations of states and political subdivisions. At June 30, 2017 and December 31, 2016 , there were no obligations of states and political subdivisions in a continuous unrealized loss position for twelve months or more. Mortgage-backed Securities: GSE Residential. At June 30, 2017 there were four mortgage-backed securities with a fair value of $7,123,000 and unrealized losses of $219,000 in a continuous unrealized loss position for twelve months or more. At December 31, 2016 , there were two mortgage-backed securities with a fair value of $5,878,000 and unrealized losses of $270,000 in a continuous unrealized loss position for twelve months or more. Trust Preferred Securities. At June 30, 2017 , there was one trust preferred security with a fair value of $2,424,000 and unrealized loss of $550,000 in a continuous unrealized loss position for twelve months or more. At December 31, 2016 , there was one trust preferred security with a fair value of $1,652,000 and unrealized loss of $1,398,000 in a continuous unrealized loss position for twelve months or more. The unrealized loss was primarily due to the long-term nature of the trust preferred security, a lack of demand or inactive market for the security, the impending change to the regulatory treatment of these securities, and concerns regarding the underlying financial institutions that have issued the trust preferred securities. The Company recorded no other-than-temporary impairment (OTTI) for these securities during 2017 or 2016 . Because it is not more-likely-than-not that the Company will be required to sell the remaining security before recovery of its new, lower amortized cost basis, which may be maturity, the Company does not consider the remainder of the investment to be other-than-temporarily impaired at June 30, 2017 . However, future downgrades or additional deferrals and defaults in this security, could result in additional OTTI and consequently, have a material impact on future earnings. Following are the details for the currently impaired trust preferred security (in thousands): Book Value Fair Value Unrealized Gains (Losses) Other-than- temporary Impairment Recorded To-date PreTSL XXVIII $ 2,974 $ 2,424 $ (550 ) $ (1,111 ) Other secu rities. At June 30, 2017 there were no other securities in a continuous unrealized loss position for twelve months or more. At December 31, 2016 , there was one other security with a fair value of $1,995,000 and unrealized losses of $5,000 in a continuous unrealized loss position for twelve months or more. The Company does not believe any other individual unrealized loss as of June 30, 2017 represents OTTI. However, given the continued disruption in the financial markets, the Company may be required to recognize OTTI losses in future periods with respect to its available for sale investment securities portfolio. The amount and timing of any additional OTTI will depend on the decline in the underlying cash flows of the securities. Should the impairment of any of these securities become other-than-temporary, the cost basis of the investment will be reduced and the resulting loss recognized in the period the other-than-temporary impairment is identified. Other-than-temporary Impairment. Upon acquisition of a security, the Company determines whether it is within the scope of the accounting guidance for investments in debt and equity securities or whether it must be evaluated for impairment under the accounting guidance for beneficial interests in securitized financial assets. The Company conducts periodic reviews to evaluate its investment securities to determine whether OTTI has occurred. While all securities are considered, the securities primarily impacted by OTTI evaluation are pooled trust preferred securities. For the pooled trust preferred security currently in the investment portfolio, an extensive review is conducted to determine if any additional OTTI has occurred. The Company utilizes an independent third-party to perform the OTTI evaluation. The Company's management reviews the assumption inputs and methodology with the third-party to obtain an understanding of them and determine if they are appropriate for the evaluation. Economic models are used to project future cash flows for the security based on current assumptions for discount rate, prepayments, default and deferral rates and recoveries. These assumptions are determined based on the structure of the issuance, the specific collateral underlying the security, historical performance of trust preferred securities and general state of the economy. The OTTI test compares the present value of the cash flows from quarter to quarter to determine if there has been an adverse change which could indicate additional OTTI. The discount rate assumption used in the cash flow model is equal to the current yield used to accrete the beneficial interest. The Company’s current trust preferred security investment has a floating rate coupon of 3-month LIBOR plus 90 basis points . Since the estimate of 3-month LIBOR is based on the forward curve on the measurement date, and is therefore variable, the discount assumption for this security is a range of projected coupons over the expected life of the security. The Company considers the likelihood that issuers will prepay their securities which changes the amount of expected cash flows. Factors such as the coupon rates of collateral, economic conditions and regulatory changes, such as the Dodd-Frank Act and Basel III, are considered. The trust preferred security includes collateral issued by financial institutions and insurance companies. To identify bank issuers with a high risk of near term default or deferral, a credit model developed by the third-party is utilized that scores each bank issuer based on 29 different ratios covering capital adequacy, asset quality, earnings, liquidity, the Texas Ratio, and sensitivity to interest rates. To account for longer term bank default risk not captured by the credit model, it is assumed that banks will default at a rate of 2% annually for the first two years of the cash flow projection, and 36 basis points in each year thereafter. To project defaults for insurance issuers, each issuer’s credit rating is mapped to its idealized default rate, which is AM Best’s estimate of the historical default rate for insurance companies with that rating. Lastly, it is assumed that trust preferred securities issued by banks that have already failed will have no recoveries, and that banks projected to default will have recoveries of 10% . Additionally, the 10% recovery assumption, incorporates the potential for cures by banks that are currently in deferral. If the Company determines that a given pooled trust preferred security position will be subject to a write-down or loss, the Company records the expected credit loss as a charge to earnings. Credit Losses Recognized on Investments. As described above, the Company’s investment in trust preferred security has experienced fair value deterioration due to credit losses but is not otherwise other-than-temporarily impaired. The following table provides information about the trust preferred security for which only a credit loss was recognized in income and other losses are recorded in other comprehensive income (loss) for the six months ended June 30, 2017 and 2016 (in thousands). Accumulated Credit Losses June 30, 2017 June 30, 2016 Credit losses on trust preferred securities held Beginning of period $ 1,111 $ 1,111 Additions related to OTTI losses not previously recognized — — Reductions due to sales / (recoveries) — — Reductions due to change in intent or likelihood of sale — — Additions related to increases in previously recognized OTTI losses — — Reductions due to increases in expected cash flows — — End of period $ 1,111 $ 1,111 |
Loans and Allowance for Loan Lo
Loans and Allowance for Loan Losses | 6 Months Ended |
Jun. 30, 2017 | |
Receivables [Abstract] | |
Loans and Allowance for Loan Losses | 90 Days & Accruing June 30, 2017 Construction and land development $ — $ — $ — $ — $ 68,681 $ 68,681 $ — Agricultural real estate 237 299 104 640 122,780 123,420 — 1-4 Family residential properties 1,462 57 1,235 2,754 307,768 310,522 — Multifamily residential properties — 98 — 98 72,394 72,492 — Commercial real estate 1,720 304 1,196 3,220 629,272 632,492 — Loans secured by real estate 3,419 758 2,535 6,712 1,200,895 1,207,607 — Agricultural loans 931 199 — 1,130 78,629 79,759 — Commercial and industrial loans 455 49 176 680 420,600 421,280 — Consumer loans 160 3 88 251 32,563 32,814 — All other loans — — — — 84,174 84,174 — Total loans $ 4,965 $ 1,009 $ 2,799 $ 8,773 $ 1,816,861 $ 1,825,634 $ — December 31, 2016 Construction and land development $ — $ — $ — $ — $ 49,104 $ 49,104 $ — Agricultural real estate — 131 293 424 125,684 126,108 — 1-4 Family residential properties 1,854 713 1,008 3,575 322,840 326,415 105 Multifamily residential properties — — 240 240 82,960 83,200 — Commercial real estate 1,662 716 43 2,421 627,714 630,135 — Loans secured by real estate 3,516 1,560 1,584 6,660 1,208,302 1,214,962 105 Agricultural loans 365 84 37 486 86,199 86,685 — Commercial and industrial loans 395 155 249 799 408,234 409,033 — Consumer loans 192 37 11 240 37,788 38,028 — All other loans — — — — 77,284 77,284 — Total loans $ 4,468 $ 1,836 $ 1,881 $ 8,185 $ 1,817,807 $ 1,825,992 $ 105 Impaired Loans Within all loan portfolio segments, loans are considered impaired when, based on current information and events, it is probable the Company will be unable to collect all amounts due from the borrower in accordance with the contractual terms of the loan. The entire balance of a loan is considered delinquent if the minimum payment contractually required to be made is not received by the specified due date. Impaired loans, excluding certain troubled debt restructured loans, are placed on nonaccrual status. Impaired loans include nonaccrual loans and loans modified in troubled debt restructurings where concessions have been granted to borrowers experiencing financial difficulties. These concessions could include a reduction in the interest rate on the loan, payment extensions, forgiveness of principal, forbearance or other actions intended to maximize collection. It is the Company’s policy to have any restructured loans which are on nonaccrual status prior to being modified remain on nonaccrual status until, in the opinion of management, the financial position of the borrower indicates there is no longer any reasonable doubt as to the timely collection of interest or principal. If the restructured loan is on accrual status prior to being modified, the loan is reviewed to determine if the modified loan should remain on accrual status The Company’s policy is to discontinue the accrual of interest income on all loans for which principal or interest is ninety days past due. The accrual of interest is discontinued earlier when, in the opinion of management, there is reasonable doubt as to the timely collection of interest or principal. Once interest accruals are discontinued, accrued but uncollected interest is charged against current year income. Subsequent receipts on non-accrual loans are recorded as a reduction of principal, and interest income is recorded only after principal recovery is reasonably assured. Interest on loans determined to be troubled debt restructurings is recognized on an accrual basis in accordance with the restructured terms if the loan is in compliance with the modified terms. Nonaccrual loans are returned to accrual status when, in the opinion of management, the financial position of the borrower indicates there is no longer any reasonable doubt as to the timely collection of interest or principal. The Company requires a period of satisfactory performance of not less than six months before returning a nonaccrual loan to accrual status. The following tables present impaired loans as of June 30, 2017 and December 31, 2016 (in thousands): June 30, 2017 December 31, 2016 Recorded Balance Unpaid Principal Balance Specific Allowance Recorded Balance Unpaid Principal Balance Specific Allowance Loans with a specific allowance: Construction and land development $ 593 $ 593 $ — $ 227 $ 227 $ — Agricultural real estate — — — — — — 1-4 Family residential properties 1,494 1,762 47 997 997 6 Multifamily residential properties 605 605 — 528 528 — Commercial real estate 3,589 3,703 78 863 884 — Loans secured by real estate 6,281 6,663 125 2,615 2,636 6 Agricultural loans 261 1,071 — 1,345 1,345 660 Commercial and industrial loans 866 1,051 116 1,093 1,191 192 Consumer loans 248 248 1 213 213 — All other loans — — — — — — Total loans $ 7,656 $ 9,033 $ 242 $ 5,266 $ 5,385 $ 858 Loans without a specific allowance: Construction and land development $ — $ — $ — $ — $ — $ — Agricultural real estate 16 17 — 205 207 — 1-4 Family residential properties 1,403 1,869 — 2,497 3,207 — Multifamily residential properties 3,395 3,395 — 3,419 3,547 — Commercial real estate 2,924 3,154 — 6,224 6,802 — Loans secured by real estate 7,738 8,435 — 12,345 13,763 — Agricultural loans 565 7 — 43 66 — Commercial and industrial loans 1,086 1,374 — 378 572 — Consumer loans 80 90 — 206 211 — All other loans — — — — — — Total loans $ 9,469 $ 9,906 $ — $ 12,972 $ 14,612 $ — Total loans: Construction and land development $ 593 $ 593 $ — $ 227 $ 227 $ — Agricultural real estate 16 17 — 205 207 — 1-4 Family residential properties 2,897 3,631 47 3,494 4,204 6 Multifamily residential properties 4,000 4,000 — 3,947 4,075 — Commercial real estate 6,513 6,857 78 7,087 7,686 — Loans secured by real estate 14,019 15,098 125 14,960 16,399 6 Agricultural loans 826 1,078 — 1,388 1,411 660 Commercial and industrial loans 1,952 2,425 116 1,471 1,763 192 Consumer loans 328 338 1 419 424 — All other loans — — — — — — Total loans $ 17,125 $ 18,939 $ 242 $ 18,238 $ 19,997 $ 858 The following tables present average recorded investment and interest income recognized on impaired loans for the three and six -month periods ended June 30, 2017 and 2016 (in thousands): For the three months ended June 30, 2017 June 30, 2016 Average Investment in Impaired Loans Interest Income Recognized Average Investment in Impaired Loans Interest Income Recognized Construction and land development $ 594 $ — $ 580 $ — Agricultural real estate 16 — 450 — 1-4 Family residential properties 2,929 106 1,244 4 Multifamily residential properties 4,129 51 305 — Commercial real estate 7,068 31 1,132 1 Loans secured by real estate 14,736 188 3,711 5 Agricultural loans 826 — 15 — Commercia" id="sjs-B4">Loans and Allowance for Loan Losses Loans are stated at the principal amount outstanding net of unearned discounts, unearned income and allowance for loan losses. Unearned income includes deferred loan origination fees reduced by loan origination costs and is amortized to interest income over the life of the related loan using methods that approximated the effective interest rate method. Interest on substantially all loans is credited to income based on the principal amount outstanding. A summary of loans at June 30, 2017 and December 31, 2016 follows (in thousands): June 30, December 31, Construction and land development $ 68,847 $ 49,366 Agricultural real estate 123,508 126,216 1-4 Family residential properties 311,699 328,119 Multifamily residential properties 72,660 83,478 Commercial real estate 635,420 633,694 Loans secured by real estate 1,212,134 1,220,873 Agricultural loans 79,763 86,735 Commercial and industrial loans 422,982 412,637 Consumer loans 33,132 38,404 All other loans 85,338 77,602 Total Gross loans 1,833,349 1,836,251 Less: Loans held for sale 1,932 1,175 1,831,417 1,835,076 Less: Net deferred loan fees, premiums and discounts 7,715 10,259 Allowance for loan losses 18,209 16,753 Net loans $ 1,805,493 $ 1,808,064 Net loans decreased $2.6 million as of June 30, 2017 compared to December 31, 2016 . The decrease was primarily due to seasonal paydowns on agricultural operating loans and payoffs of other loans that were not renewed. Loans expected to be sold are classified as held for sale in the consolidated financial statements and are recorded at the lower of aggregate cost or market value, taking into consideration future commitments to sell the loans. These loans are primarily for 1-4 family residential properties. Most of the Company’s business activities are with customers located near the Company's branch locations in Illinois and Missouri. At June 30, 2017 , the Company’s loan portfolio included $203.3 million of loans to borrowers whose businesses are directly related to agriculture. Of this amount, $164.7 million was concentrated in other grain farming. Total loans to borrowers whose businesses are directly related to agriculture decreased $9.7 million from $213.0 million at December 31, 2016 due to seasonal paydowns based upon timing of cash flow requirements. Loans concentrated in other grain farming decreased $6.6 million from $171.3 million at December 31, 2016 . While the Company adheres to sound underwriting practices, including collateralization of loans, any extended period of low commodity prices, drought conditions, significantly reduced yields on crops and/or reduced levels of government assistance to the agricultural industry could result in an increase in the level of problem agriculture loans and potentially result in loan losses within the agricultural portfolio. In addition, the Company has $120.5 million of loans to motels and hotels. The performance of these loans is dependent on borrower specific issues as well as the general level of business and personal travel within the region. While the Company adheres to sound underwriting standards, a prolonged period of reduced business or personal travel could result in an increase in nonperforming loans to this business segment and potentially in loan losses. The Company also has $145.8 million of loans to lessors of non-residential buildings, and $129.7 million of loans to lessors of residential buildings and dwellings. The structure of the Company’s loan approval process is based on progressively larger lending authorities granted to individual loan officers, loan committees, and ultimately the board of directors. Outstanding balances to one borrower or affiliated borrowers are limited by federal regulation and the vast majority of borrowers are below regulatory thresholds. The Company can occasionally have outstanding balances to one borrower up to but not exceeding the regulatory threshold should underwriting guidelines warrant. The vast majority of the Company’s loans are to businesses located in the geographic market areas served by the Company’s branch bank system. Additionally, a significant portion of the collateral securing the loans in the portfolio is located within the Company’s primary geographic footprint. In general, the Company adheres to loan underwriting standards consistent with industry guidelines for all loan segments. The Company’s lending can be summarized into the following primary areas: Commercial Real Estate Loans. Commercial real estate loans are generally comprised of loans to small business entities to purchase or expand structures in which the business operations are housed, loans to owners of real estate who lease space to non-related commercial entities, loans for construction and land development, loans to hotel operators, and loans to owners of multi-family residential structures, such as apartment buildings. Commercial real estate loans are underwritten based on historical and projected cash flows of the borrower and secondarily on the underlying real estate pledged as collateral on the debt. For the various types of commercial real estate loans, minimum criteria have been established within the Company’s loan policy regarding debt service coverage while maximum limits on loan-to-value and amortization periods have been defined. Maximum loan-to-value ratios range from 65% to 80% depending upon the type of real estate collateral, while the desired minimum debt coverage ratio is 1.20x . Amortization periods for commercial real estate loans are generally limited to twenty years . The Company’s commercial real estate portfolio is well below the thresholds that would designate a concentration in commercial real estate lending, as established by the federal banking regulators. Commercial and Industrial Loans. Commercial and industrial loans are primarily comprised of working capital loans used to purchase inventory and fund accounts receivable that are secured by business assets other than real estate. These loans are generally written for one year or less. Also, equipment financing is provided to businesses with these loans generally limited to 80% of the value of the collateral and amortization periods limited to seven years . Commercial loans are often accompanied by a personal guaranty of the principal owners of a business. Like commercial real estate loans, the underlying cash flow of the business is the primary consideration in the underwriting process. The financial condition of commercial borrowers is monitored at least annually with the type of financial information required determined by the size of the relationship. Measures employed by the Company for businesses with higher risk profiles include the use of government-assisted lending programs through the Small Business Administration and U.S. Department of Agriculture. Agricultural and Agricultural Real Estate Loans. Agricultural loans are generally comprised of seasonal operating lines to cash grain farmers to plant and harvest corn and soybeans and term loans to fund the purchase of equipment. Agricultural real estate loans are primarily comprised of loans for the purchase of farmland. Specific underwriting standards have been established for agricultural-related loans including the establishment of projections for each operating year based on industry developed estimates of farm input costs and expected commodity yields and prices. Operating lines are typically written for one year and secured by the crop. Loan-to-value ratios on loans secured by farmland generally do not exceed 65% and have amortization periods limited to twenty five years . Federal government-assistance lending programs through the Farm Service Agency are used to mitigate the level of credit risk when deemed appropriate. Residential Real Estate Loans. Residential real estate loans generally include loans for the purchase or refinance of residential real estate properties consisting of one-to-four units and home equity loans and lines of credit. The Company sells the vast majority of its long-term fixed rate residential real estate loans to secondary market investors. The Company also releases the servicing of these loans upon sale. The Company retains all residential real estate loans with balloon payment features. Balloon periods are limited to five years . Residential real estate loans are typically underwritten to conform to industry standards including criteria for maximum debt-to-income and loan-to-value ratios as well as minimum credit scores. Loans secured by first liens on residential real estate held in the portfolio typically do not exceed 80% of the value of the collateral and have amortization periods of twenty five years or less. The Company does not originate subprime mortgage loans. Consumer Loans. Consumer loans are primarily comprised of loans to individuals for personal and household purposes such as the purchase of an automobile or other living expenses. Minimum underwriting criteria have been established that consider credit score, debt-to-income ratio, employment history, and collateral coverage. Typically, consumer loans are set up on monthly payments with amortization periods based on the type and age of the collateral. Other Loans. Other loans consist primarily of loans to municipalities to support community projects such as infrastructure improvements or equipment purchases. Underwriting guidelines for these loans are consistent with those established for commercial loans with the additional repayment source of the taxing authority of the municipality. Purchase Credit-Impaired Loans. Loans acquired with evidence of credit deterioration since origination and for which it is probable that all contractually required payments will not be collected are considered to be credit impaired. Evidence of credit quality deterioration as of the purchase date may include information such as past-due and nonaccrual status, borrower credit scores and recent loan to value percentages. Purchase credit-impaired ("PCI") loans are accounted for under ASC 310-30, Receivables--Loans and Debt Securities Acquired with Deteriorated Credit Quality ("ASC 310-30"), and are initially measured at fair value, which includes the estimated future credit losses expected to be incurred over the life of the loan. Accordingly, an allowance for credit losses related to these loans is not carried over and recorded at the acquisition date. The cash flows expected to be collected were estimated using current key assumptions, such as default rates, value of underlying collateral, severity and prepayment speeds. Allowance for Loan Losses The allowance for loan losses represents the Company’s best estimate of the reserve necessary to adequately account for probable losses existing in the current portfolio. The provision for loan losses is the charge against current earnings that is determined by the Company as the amount needed to maintain an adequate allowance for loan losses. In determining the adequacy of the allowance for loan losses, and therefore the provision to be charged to current earnings, the Company relies predominantly on a disciplined credit review and approval process that extends to the full range of the Company’s credit exposure. The review process is directed by the overall lending policy and is intended to identify, at the earliest possible stage, borrowers who might be facing financial difficulty. Factors considered by the Company in evaluating the overall adequacy of the allowance include historical net loan losses, the level and composition of nonaccrual, past due and troubled debt restructurings, trends in volumes and terms of loans, effects of changes in risk selection and underwriting standards or lending practices, lending staff changes, concentrations of credit, industry conditions and the current economic conditions in the region where the Company operates. The Company estimates the appropriate level of allowance for loan losses by separately evaluating large impaired loans and nonimpaired loans. The Company has loans acquired from business combinations with uncollected principal balances. These loans are carried net of a fair value adjustment for credit risk and interest rates and are only included in the allowance calculation to the extent that the reserve requirement exceeds the fair value adjustment. However, as the acquired loans renew, it is necessary to establish an allowance which represents an amount that, in management’s opinion, will be adequate to absorb probable credit losses inherent in such loans. Impaired loans The Company individually evaluates certain loans for impairment. In general, these loans have been internally identified via the Company’s loan grading system as credits requiring management’s attention due to underlying problems in the borrower’s business or collateral concerns. This evaluation considers expected future cash flows, the value of collateral and also other factors that may impact the borrower’s ability to make payments when due. For loans greater than $250,000 , impairment is individually measured each quarter using one of three alternatives: (1) the present value of expected future cash flows discounted at the loan’s effective interest rate; (2) the loan’s observable market price, if available; or (3) the fair value of the collateral less costs to sell for collateral dependent loans and loans for which foreclosure is deemed to be probable. A specific allowance is assigned when expected cash flows or collateral do not justify the carrying amount of the loan. The carrying value of the loan reflects reductions from prior charge-offs. Non-Impaired loans Non-impaired loans comprise the vast majority of the Company’s total loan portfolio and include loans in accrual status and those credits not identified as troubled debt restructurings. A small portion of these loans are considered “criticized” due to the risk rating assigned reflecting elevated credit risk due to characteristics, such as a strained cash flow position, associated with the individual borrowers. Criticized loans are those assigned risk ratings of Special Mention, Substandard, or Doubtful. Determining the appropriate level of the allowance for loan losses for all non-impaired loans is based on a migration analysis of net losses over a rolling twelve quarter period by loan segment. A weighted average of the net losses is determined by assigning more weight to the most recent quarters in order to recognize current risk factors influencing the various segments of the loan portfolio more prominently than past periods. Environmental factors including changes in economic conditions, changes in credit policies or underwriting standards, and changes in the level of credit risk associated with specific industries and markets are evaluated each quarter to determine if adjustments to the weighted average historical net losses is appropriate given these current influences on the risk profile of each loan segment. Because the economic and business climate in any given industry or market, and its impact on any given borrower, can change rapidly, the risk profile of the loan portfolio is periodically assessed and adjusted when appropriate. Consumer loans are evaluated for adverse classification based primarily on the Uniform Retail Credit Classification and Account Management Policy established by the federal banking regulators. Classification standards are generally based on delinquency status, collateral coverage, bankruptcy and the presence of fraud. Due to weakened economic conditions during prior years, the Company established qualitative factor adjustments for each of the loan segments at levels above the historical net loss averages. Some of the economic factors included the potential for reduced cash flow for commercial operating loans from reduction in sales or increased operating costs, decreased occupancy rates for commercial buildings, reduced levels of home sales for commercial land developments, the uncertainty regarding grain prices and increased operating costs for farmers, and increased levels of unemployment and bankruptcy impacting consumer’s ability to pay. Each of these economic uncertainties was taken into consideration in developing the level of the allowance for loan losses. The Company has not materially changed any aspect of its overall approach in the determination of the allowance for loan losses. However, on an on-going basis the Company continues to refine the methods used in determining management’s best estimate of the allowance for loan losses. The following tables present the balance in the allowance for loan losses and the recorded investment in loans based on portfolio segment and impairment method for the three and six -months ended June 30, 2017 and 2016 and for the year ended December 31, 2016 (in thousands): Commercial/ Commercial Real Estate Agricultural/ Agricultural Real Estate Residential Real Estate Consumer Unallocated Total Three months ended June 30, 2017 Allowance for loan losses: Balance, beginning of period $ 13,771 $ 2,319 $ 978 $ 751 $ 27 $ 17,846 Provision charged to expense 1,667 86 23 57 7 1,840 Losses charged off (871 ) (662 ) (50 ) (135 ) — (1,718 ) Recoveries 180 — 18 43 — 241 Balance, end of period $ 14,747 $ 1,743 $ 969 $ 716 $ 34 $ 18,209 Ending balance: Individually evaluated for impairment $ 194 $ — $ 47 $ 1 $ — $ 242 Collectively evaluated for impairment $ 14,553 $ 1,743 $ 922 $ 715 $ 34 $ 17,967 Acquired with deteriorated credit quality $ — $ — $ — $ — $ — $ — Commercial/ Commercial Real Estate Agricultural/ Agricultural Real Estate Residential Real Estate Consumer Unallocated Total Three months ended June 30, 2016 Allowance for loan losses: Balance, beginning of period $ 11,789 $ 1,270 $ 926 $ 710 $ 41 $ 14,736 Provision charged to expense 388 179 56 88 22 733 Losses charged off (572 ) — (58 ) (109 ) — (739 ) Recoveries 390 — — 44 — 434 Balance, end of period $ 11,995 $ 1,449 $ 924 $ 733 $ 63 $ 15,164 Ending balance: Individually evaluated for impairment $ 297 $ — $ — $ — $ — $ 297 Collectively evaluated for impairment $ 11,698 $ 1,449 $ 924 $ 733 $ 63 $ 14,867 Acquired with deteriorated credit quality $ — $ — $ — $ — $ — $ — Six months ended June 30, 2017 Allowance for loan losses: Balance, beginning of year $ 12,901 $ 2,249 $ 874 $ 693 $ 36 $ 16,753 Provision charged to expense 3,133 155 169 107 (2 ) 3,562 Losses charged off (1,483 ) (662 ) (99 ) (237 ) — (2,481 ) Recoveries 196 1 25 153 — 375 Balance, end of period $ 14,747 $ 1,743 $ 969 $ 716 $ 34 $ 18,209 Ending balance: Individually evaluated for impairment $ 194 $ — $ 47 $ 1 $ — $ 242 Collectively evaluated for impairment $ 14,553 $ 1,743 $ 922 $ 715 $ 34 $ 17,967 Acquired with deteriorated credit quality $ — $ — $ — $ — $ — $ — Loans: Individually evaluated for impairment $ 5,653 $ 261 $ 1,494 $ 248 $ — $ 7,656 Collectively evaluated for impairment 1,241,763 202,620 331,874 35,611 $ — 1,811,868 Acquired with deteriorated credit quality 6,110 — — — $ — 6,110 Ending balance $ 1,253,526 $ 202,881 $ 333,368 $ 35,859 $ — $ 1,825,634 Commercial/ Commercial Real Estate Agricultural/ Agricultural Real Estate Residential Real Estate Consumer Unallocated Total Six months ended June 30, 2016 Allowance for loan losses: Balance, beginning of year $ 11,379 $ 1,337 $ 994 $ 642 $ 224 $ 14,576 Provision charged to expense 613 111 72 211 (161 ) 846 Losses charged off (612 ) — (142 ) (222 ) — (976 ) Recoveries 615 1 — 102 — 718 Balance, end of period $ 11,995 $ 1,449 $ 924 $ 733 $ 63 $ 15,164 Ending balance: Individually evaluated for impairment $ 297 $ — $ — $ — $ — $ 297 Collectively evaluated for impairment $ 11,698 $ 1,449 $ 924 $ 733 $ 63 $ 14,867 Acquired with deteriorated credit quality $ — $ — $ — $ — $ — $ — Loans: Individually evaluated for impairment $ 1,555 $ 430 $ — $ 21 $ — $ 2,006 Collectively evaluated for impairment 855,595 194,384 221,546 41,656 — 1,313,181 Acquired with deteriorated credit quality — — — — — — Ending balance $ 857,150 $ 194,814 $ 221,546 $ 41,677 $ — $ 1,315,187 Year ended December 31, 2016 Allowance for loan losses: Balance, beginning of year $ 11,379 $ 1,337 $ 994 $ 642 $ 224 $ 14,576 Provision charged to expense 1,467 933 113 501 (188 ) 2,826 Losses charged off (747 ) (30 ) (234 ) (664 ) — (1,675 ) Recoveries 802 9 1 214 — 1,026 Balance, end of year $ 12,901 $ 2,249 $ 874 $ 693 $ 36 $ 16,753 Ending balance: Individually evaluated for impairment $ 192 $ 660 $ 6 $ — $ — $ 858 Collectively evaluated for impairment $ 12,695 $ 1,589 $ 868 $ 693 $ 36 $ 15,881 Acquired with deteriorated credit quality $ 14 $ — $ — $ — $ — $ 14 Loans: Individually evaluated for impairment $ 1,956 $ 1,345 $ 1,752 $ 213 $ — $ 5,266 Collectively evaluated for impairment 1,199,003 211,168 360,825 41,644 — 1,812,640 Acquired with deteriorated credit quality 3,840 — 4,246 — — 8,086 Ending balance $ 1,204,799 $ 212,513 $ 366,823 $ 41,857 $ — $ 1,825,992 Consistent with regulatory guidance, charge-offs on all loan segments are taken when specific loans, or portions thereof, are considered uncollectible. The Company’s policy is to promptly charge these loans off in the period the uncollectible loss is reasonably determined. For all loan portfolio segments except 1-4 family residential properties and consumer, the Company promptly charges-off loans, or portions thereof, when available information confirms that specific loans are uncollectible based on information that includes, but is not limited to, (1) the deteriorating financial condition of the borrower, (2) declining collateral values, and/or (3) legal action, including bankruptcy, that impairs the borrower’s ability to adequately meet its obligations. For impaired loans that are considered to be solely collateral dependent, a partial charge-off is recorded when a loss has been confirmed by an updated appraisal or other appropriate valuation of the collateral. The Company charges-off 1-4 family residential and consumer loans, or portions thereof, when the Company reasonably determines the amount of the loss. The Company adheres to timeframes established by applicable regulatory guidance which provides for the charge-down of 1-4 family first and junior lien mortgages to the net realizable value less costs to sell when the loan is 180 days past due, charge-off of unsecured open-end loans when the loan is 180 days past due, and charge down to the net realizable value when other secured loans are 120 days past due. Loans at these respective delinquency thresholds for which the Company can clearly document that the loan is both well-secured and in the process of collection, such that collection will occur regardless of delinquency status, need not be charged off. Credit Quality The Company categorizes loans into risk categories based on relevant information about the ability of borrowers to service their debt such as: current financial information, historical payment experience, collateral support, credit documentation, public information, and current economic trends, among other factors. The Company analyzes loans individually by classifying the loans as to credit risk. This analysis is performed on a continuous basis. The Company uses the following definitions for risk ratings which are commensurate with a loan considered “criticized”: Special Mention. Loans classified as special mention have a potential weakness that deserves management’s close attention. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for the loan or of the institution’s credit position at some future date. Substandard. Loans classified as substandard are inadequately protected by the current sound-worthiness and paying capacity of the obligor or of the collateral pledged, if any. Loans so classified have a well-defined weakness or weaknesses that jeopardize the liquidation of the debt. They are characterized by the distinct possibility that the institution will sustain some loss if the deficiencies are not corrected. Doubtful. Loans classified as doubtful have all the weaknesses inherent in those classified as substandard, with the added characteristic that the weaknesses make collection or liquidation in full, on the basis of currently existing factors, conditions and values, highly questionable and improbable. Loans not meeting the criteria above that are analyzed individually as part of the above described process are considered pass rated loans. The following tables present the credit risk profile of the Company’s loan portfolio based on rating category and payment activity as of June 30, 2017 and December 31, 2016 (in thousands): Construction & Land Development Agricultural Real Estate 1-4 Family Residential Properties Multifamily Residential Properties 2017 2016 2017 2016 2017 2016 2017 2016 Pass $ 68,088 $ 48,877 $ 117,180 $ 118,934 $ 299,314 $ 318,921 $ 67,002 $ 81,018 Special Mention — — 5,213 5,190 2,623 918 1,618 1,651 Substandard 593 227 1,027 1,984 8,585 6,576 3,872 531 Doubtful — — — — — — — — Total $ 68,681 $ 49,104 $ 123,420 $ 126,108 $ 310,522 $ 326,415 $ 72,492 $ 83,200 Commercial Real Estate (Nonfarm/Nonresidential) Agricultural Loans Commercial & Industrial Loans Consumer Loans 2017 2016 2017 2016 2017 2016 2017 2016 Pass $ 594,806 $ 610,025 $ 74,333 $ 81,922 $ 401,352 $ 397,762 $ 32,366 $ 37,624 Special Mention 17,160 5,229 2,534 3,271 17,648 8,485 14 17 Substandard 20,526 14,881 2,892 1,492 2,280 2,786 434 387 Doubtful — — — — — — — — Total $ 632,492 $ 630,135 $ 79,759 $ 86,685 $ 421,280 $ 409,033 $ 32,814 $ 38,028 All Other Loans Total Loans 2017 2016 2017 2016 Pass $ 81,418 $ 74,377 $ 1,735,859 $ 1,769,460 Special Mention 2,756 2,892 49,566 27,653 Substandard — 15 40,209 28,879 Doubtful — — — — Total $ 84,174 $ 77,284 $ 1,825,634 $ 1,825,992 The following table presents the Company’s loan portfolio aging analysis at June 30, 2017 and December 31, 2016 (in thousands): 30-59 Days Past Due 60-89 Days Past Due 90 Days or More Past Due Total Past Due Current Total Loans Receivable Total Loans > 90 Days & Accruing June 30, 2017 Construction and land development $ — $ — $ — $ — $ 68,681 $ 68,681 $ — Agricultural real estate 237 299 104 640 122,780 123,420 — 1-4 Family residential properties 1,462 57 1,235 2,754 307,768 310,522 — Multifamily residential properties — 98 — 98 72,394 72,492 — Commercial real estate 1,720 304 1,196 3,220 629,272 632,492 — Loans secured by real estate 3,419 758 2,535 6,712 1,200,895 1,207,607 — Agricultural loans 931 199 — 1,130 78,629 79,759 — Commercial and industrial loans 455 49 176 680 420,600 421,280 — Consumer loans 160 3 88 251 32,563 32,814 — All other loans — — — — 84,174 84,174 — Total loans $ 4,965 $ 1,009 $ 2,799 $ 8,773 $ 1,816,861 $ 1,825,634 $ — December 31, 2016 Construction and land development $ — $ — $ — $ — $ 49,104 $ 49,104 $ — Agricultural real estate — 131 293 424 125,684 126,108 — 1-4 Family residential properties 1,854 713 1,008 3,575 322,840 326,415 105 Multifamily residential properties — — 240 240 82,960 83,200 — Commercial real estate 1,662 716 43 2,421 627,714 630,135 — Loans secured by real estate 3,516 1,560 1,584 6,660 1,208,302 1,214,962 105 Agricultural loans 365 84 37 486 86,199 86,685 — Commercial and industrial loans 395 155 249 799 408,234 409,033 — Consumer loans 192 37 11 240 37,788 38,028 — All other loans — — — — 77,284 77,284 — Total loans $ 4,468 $ 1,836 $ 1,881 $ 8,185 $ 1,817,807 $ 1,825,992 $ 105 Impaired Loans Within all loan portfolio segments, loans are considered impaired when, based on current information and events, it is probable the Company will be unable to collect all amounts due from the borrower in accordance with the contractual terms of the loan. The entire balance of a loan is considered delinquent if the minimum payment contractually required to be made is not received by the specified due date. Impaired loans, excluding certain troubled debt restructured loans, are placed on nonaccrual status. Impaired loans include nonaccrual loans and loans modified in troubled debt restructurings where concessions have been granted to borrowers experiencing financial difficulties. These concessions could include a reduction in the interest rate on the loan, payment extensions, forgiveness of principal, forbearance or other actions intended to maximize collection. It is the Company’s policy to have any restructured loans which are on nonaccrual status prior to being modified remain on nonaccrual status until, in the opinion of management, the financial position of the borrower indicates there is no longer any reasonable doubt as to the timely collection of interest or principal. If the restructured loan is on accrual status prior to being modified, the loan is reviewed to determine if the modified loan should remain on accrual status The Company’s policy is to discontinue the accrual of interest income on all loans for which principal or interest is ninety days past due. The accrual of interest is discontinued earlier when, in the opinion of management, there is reasonable doubt as to the timely collection of interest or principal. Once interest accruals are discontinued, accrued but uncollected interest is charged against current year income. Subsequent receipts on non-accrual loans are recorded as a reduction of principal, and interest income is recorded only after principal recovery is reasonably assured. Interest on loans determined to be troubled debt restructurings is recognized on an accrual basis in accordance with the restructured terms if the loan is in compliance with the modified terms. Nonaccrual loans are returned to accrual status when, in the opinion of management, the financial position of the borrower indicates there is no longer any reasonable doubt as to the timely collection of interest or principal. The Company requires a period of satisfactory performance of not less than six months before returning a nonaccrual loan to accrual status. The following tables present impaired loans as of June 30, 2017 and December 31, 2016 (in thousands): June 30, 2017 December 31, 2016 Recorded Balance Unpaid Principal Balance Specific Allowance Recorded Balance Unpaid Principal Balance Specific Allowance Loans with a specific allowance: Construction and land development $ 593 $ 593 $ — $ 227 $ 227 $ — Agricultural real estate — — — — — — 1-4 Family residential properties 1,494 1,762 47 997 997 6 Multifamily residential properties 605 605 — 528 528 — Commercial real estate 3,589 3,703 78 863 884 — Loans secured by real estate 6,281 6,663 125 2,615 2,636 6 Agricultural loans 261 1,071 — 1,345 1,345 660 Commercial and industrial loans 866 1,051 116 1,093 1,191 192 Consumer loans 248 248 1 213 213 — All other loans — — — — — — Total loans $ 7,656 $ 9,033 $ 242 $ 5,266 $ 5,385 $ 858 Loans without a specific allowance: Construction and land development $ — $ — $ — $ — $ — $ — Agricultural real estate 16 17 — 205 207 — 1-4 Family residential properties 1,403 1,869 — 2,497 3,207 — Multifamily residential properties 3,395 3,395 — 3,419 3,547 — Commercial real estate 2,924 3,154 — 6,224 6,802 — Loans secured by real estate 7,738 8,435 — 12,345 13,763 — Agricultural loans 565 7 — 43 66 — Commercial and industrial loans 1,086 1,374 — 378 572 — Consumer loans 80 90 — 206 211 — All other loans — — — — — — Total loans $ 9,469 $ 9,906 $ — $ 12,972 $ 14,612 $ — Total loans: Construction and land development $ 593 $ 593 $ — $ 227 $ 227 $ — Agricultural real estate 16 17 — 205 207 — 1-4 Family residential properties 2,897 3,631 47 3,494 4,204 6 Multifamily residential properties 4,000 4,000 — 3,947 4,075 — Commercial real estate 6,513 6,857 78 7,087 7,686 — Loans secured by real estate 14,019 15,098 125 14,960 16,399 6 Agricultural loans 826 1,078 — 1,388 1,411 660 Commercial and industrial loans 1,952 2,425 116 1,471 1,763 192 Consumer loans 328 338 1 419 424 — All other loans — — — — — — Total loans $ 17,125 $ 18,939 $ 242 $ 18,238 $ 19,997 $ 858 The following tables present average recorded investment and interest income recognized on impaired loans for the three and six -month periods ended June 30, 2017 and 2016 (in thousands): For the three months ended June 30, 2017 June 30, 2016 Average Investment in Impaired Loans Interest Income Recognized Average Investment in Impaired Loans Interest Income Recognized Construction and land development $ 594 $ — $ 580 $ — Agricultural real estate 16 — 450 — 1-4 Family residential properties 2,929 106 1,244 4 Multifamily residential properties 4,129 51 305 — Commercial real estate 7,068 31 1,132 1 Loans secured by real estate 14,736 188 3,711 5 Agricultural loans 826 — 15 — Commercia |
Goodwill and Intangible Assets
Goodwill and Intangible Assets (Notes) | 6 Months Ended |
Jun. 30, 2017 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Goodwill and Intangible Assets Disclosure [Text Block] | Goodwill and Intangible Assets The Company has goodwill from business combinations, intangible assets from branch acquisitions, identifiable intangible assets assigned to core deposit relationships and customer lists of First Mid Insurance. The following table presents gross carrying value and accumulated amortization by major intangible asset class as of June 30, 2017 and December 31, 2016 (in thousands): June 30, 2017 December 31, 2016 Gross Carrying Value Accumulated Amortization Gross Carrying Value Accumulated Amortization Goodwill not subject to amortization (effective 1/1/02) $ 61,551 $ 3,760 $ 61,551 $ 3,760 Intangibles from branch acquisition 3,015 3,015 3,015 3,015 Core deposit intangibles 19,862 10,587 19,862 9,644 Other intangibles 3,731 2,193 3,731 2,102 $ 88,159 $ 19,555 $ 88,159 $ 18,521 During the third quarter of 2016, goodwill of $16.8 million was recorded for the acquisition of First Clover Leaf. The goodwill consists largely of the synergies and economies of scale expected from combining the operations of First Clover Leaf Bank with First Mid Bank. All of the goodwill was assigned to the banking segment of the Company. The Company expects this goodwill will not be deductible for tax purposes. The following table provides a reconciliation of the purchase price paid for First Clover Leaf and the amount of goodwill recorded (in thousands): Purchase price (in excess of net book value) $ 8,741 Less purchase accounting adjustments: Fair value of securities 737 Fair value of loans, net 3,475 Fair value of OREO 754 Fair value of premises and equipment (1,963 ) Fair value of time deposits 1,994 Fair value of FHLB advances 113 Fair value of subordinated debentures (731 ) Core deposit intangible (4,660 ) Other assets 8,325 8,044 Resulting goodwill from acquisition $ 16,785 As part of the acquisition of First Clover Leaf Bank, the Company acquired mortgage servicing rights valued at $1,069,000 . The following table summarizes the activity pertaining to mortgage servicing rights included in intangible assets as of June 30, 2017 and December 31, 2016 (in thousands): June 30, 2017 December 31, 2016 Beginning Balance $ 985 $ — Mortgage servicing rights acquired during period — 1,069 Mortgage servicing rights capitalized — 14 Mortgage servicing rights amortized (72 ) (98 ) Ending Balance $ 913 $ 985 Total amortization expense for the six months ended June 30, 2017 and 2016 was as follows (in thousands): Three months ended June 30, Six months ended June 30, 2017 2016 2017 2016 Core deposit intangibles 472 357 $ 943 $ 766 Other intangibles 45 45 91 91 Mortgage servicing rights 42 — 72 — $ 559 $ 402 $ 1,106 $ 857 Aggregate amortization expense for the current year and estimated amortization expense for each of the five succeeding years is shown in the table below (in thousands): Aggregate amortization expense: For period 01/01/17-06/30/17 $ 1,106 Estimated amortization expense: For period 07/01/17-12/31/17 1,049 For year ended 12/31/18 1,954 For year ended 12/31/19 1,778 For year ended 12/31/20 1,576 For year ended 12/31/21 1,304 For year ended 12/31/22 1,195 In accordance with the provisions of SFAS No. 142, “ Goodwill and Other Intangible Assets ,” codified within ASC 350, the Company performed testing of goodwill for impairment as of September 30, 2016 and determined that, as of that date, goodwill was not impaired. Management also concluded that the remaining amounts and amortization periods were appropriate for all intangible assets. |
Repurchase Agreements and Other
Repurchase Agreements and Other Borrowings | 6 Months Ended |
Jun. 30, 2017 | |
Repurchase Agreements and Other Borrowings [Abstract] | |
Repurchase Agreements and Other Borrowings [Text Block] | Repurchase Agreements and Other Borrowings Securities sold under agreements to repurchase were $142.4 million at June 30, 2017 , a decrease of $43.4 million from $185.8 million at December 31, 2016 . The decrease during the first six months of 2017 was primarily due to decreases in balances of customers due to changes in cash flow needs for their businesses. All of the transactions have overnight maturities with a weighted average rate of 0.10% . The right of setoff for a repurchase agreement resembles a secured borrowing, whereby the collateral pledged by the Company would be used to settle the fair value of the repurchase agreement should the Company be in default (e.g., declare bankruptcy), the Company could cancel the repurchase agreement (i.e., cease payment of principal and interest), and attempt collection on the amount of collateral value in excess of the repurchase agreement fair value. The collateral is held by a third party financial institution in the counterparty's custodial account. The counterparty has the right to sell or repledge the investment securities. For government entity repurchase agreements, the collateral is held by the Company in a segregated custodial account under a tri-party agreement. The Company is required by the counterparty to maintain adequate collateral levels. In the event the collateral fair value falls below stipulated levels, the Company will pledge additional securities. The Company closely monitors collateral levels to ensure adequate levels are maintained, while mitigating the potential of over-collateralization in the event of counterparty default. Collateral pledged by class for repurchase agreements are as follows (in thousands): June 30, 2017 December 31, 2016 US Treasury securities and obligations of U.S. government corporations & agencies $ 106,395 $ 100,526 Obligations of states and political subdivisions — 1,173 Mortgage-backed securities: GSE: residential 36,016 84,064 Total $ 142,411 $ 185,763 FHLB borrowings increased to $45 million at June 30, 2017 compared to $40 million December 31, 2016 . At June 30, 2017 the advances were as follows: • $5 million advance with a 3-year maturity , at 1.30% , due May 7, 2018 • $5 million advance with a 2-year maturity , at 0.99% , due June 21, 2018 • $10 million advance with a 3-year maturity , at 1.42% , due November 5, 2018 • $5 million advance with a 1.5-year maturity , at 1.49% , due December 28, 2018 • $5 million advance with a 2-year maturity , at 1.56% , due June, 28, 2019 • $5 million advance with a 6-year maturity , at 2.30% , due August 24, 2020 • $5 million advance with a 7-year maturity , at 2.55% , due October 1, 2021 • $5 million advance with a 8-year maturity , at 2.40% , due January 9, 2023 |
Fair Value of Assets and Liabil
Fair Value of Assets and Liabilities | 6 Months Ended |
Jun. 30, 2017 | |
Fair Value Disclosures [Abstract] | |
Fair Value of Assets and Liabilities | Fair Value of Assets and Liabilities Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Fair value measurements must maximize the use of observable inputs and minimize the use of unobservable inputs. There is a hierarchy of three levels of inputs that may be used to measure fair value: Level 1 Valuations for assets and liabilities traded in active exchange markets, such as the New York Stock Exchange. Valuations are obtained from readily available pricing sources for market transactions involving identical assets or liabilities. Level 2 Valuations for assets and liabilities traded in less active dealer or broker markets. Valuations are obtained from third party pricing services for identical or comparable assets or liabilities which use observable inputs other than Level 1 prices, such as quoted prices for similar assets or liabilities; quoted prices in active markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. Level 3 Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. Following is a description of the inputs and valuation methodologies used for assets measured at fair value on a recurring basis and recognized in the accompanying balance sheets, as well as the general classification of such assets pursuant to the valuation hierarchy. Available-for-Sale Securities. The fair value of available-for-sale securities is determined by various valuation methodologies. Where quoted market prices are available in an active market, securities are classified within Level 1. If quoted market prices are not available, then fair values are estimated by using quoted prices of securities with similar characteristics or independent asset pricing services and pricing models, the inputs of which are market-based or independent sources of market parameters, including but not limited to, yield curves, interest rates, volatilities, prepayments, defaults, cumulative loss projections and cash flows. Such securities are classified in Level 2 of the valuation hierarchy. In certain cases where Level 1 or Level 2 inputs are not available, securities are classified within Level 3 of the hierarchy and include subordinated tranches of collateralized mortgage obligations and investments in trust preferred securities. Fair value determinations for Level 3 measurements of securities are the responsibility of the Treasury function of the Company. The Company contracts with a pricing specialist to generate fair value estimates on a monthly basis. The Treasury function of the Company challenges the reasonableness of the assumptions used and reviews the methodology to ensure the estimated fair value complies with accounting standards generally accepted in the United States, analyzes the changes in fair value and compares these changes to internally developed expectations and monitors these changes for appropriateness. The trust preferred securities are collateralized debt obligation securities that are backed by trust preferred securities issued by banks, thrifts, and insurance companies. The market for these securities at June 30, 2017 is not active and markets for similar securities are also not active. The inactivity was evidenced first by a significant widening of the bid-ask spread in the brokered markets in which trust preferred securities trade and then by a significant decrease in the volume of trades relative to historical levels. The new issue market is also inactive and will continue to be, as a result of the Dodd-Frank Act’s elimination of trust preferred securities from Tier 1 capital for certain holding companies. There are currently very few market participants who are willing and or able to transact for these securities. The market values for these securities are very depressed relative to historical levels. Given conditions in the debt markets today and the absence of observable transactions in the secondary and new issue markets, we determined: • The few observable transactions and market quotations that are available are not reliable for purposes of determining fair value at June 30, 2017 , • An income valuation approach technique (present value technique) that maximizes the use of relevant observable inputs and minimizes the use of unobservable inputs will be equally or more representative of fair value than the market approach valuation technique used at prior measurement dates, and • The trust preferred securities held by the Company will be classified within Level 3 of the fair value hierarchy because we determined that significant adjustments are required to determine fair value at the measurement date. The following table presents the Company’s assets that are measured at fair value on a recurring basis and the level within the fair value hierarchy in which the fair value measurements fall as of June 30, 2017 and December 31, 2016 (in thousands): Fair Value Measurements Using Fair Value Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) June 30, 2017 Available-for-sale securities: U.S. Treasury securities and obligations of U.S. government corporations and agencies 142,573 — 142,573 — Obligations of states and political subdivisions 176,012 — 176,012 — Mortgage-backed securities 356,944 — 356,944 — Trust preferred securities 2,424 — — 2,424 Other securities 4,187 151 4,036 — Total available-for-sale securities $ 682,140 $ 151 $ 679,565 $ 2,424 December 31, 2016 Available-for-sale securities: U.S. Treasury securities and obligations of U.S. government corporations and agencies 136,324 — 136,324 — Obligations of states and political subdivisions 162,705 — 162,705 — Mortgage-backed securities 314,991 — 314,991 — Trust preferred securities 1,652 — — 1,652 Other securities 4,176 144 4,032 — Total available-for-sale securities $ 619,848 $ 144 $ 618,052 $ 1,652 The change in fair value of assets measured on a recurring basis using significant unobservable inputs (Level 3) for the three and six months ended June 30, 2017 and 2016 is summarized as follows (in thousands): Trust Preferred Securities Three months ended Six months ended June 30, 2017 June 30, 2016 June 30, 2017 June 30, 2016 Beginning balance $ 1,638 $ 1,698 $ 1,652 $ 1,906 Transfers into Level 3 — — — — Transfers out of Level 3 — — — — Total gains or losses: Included in net income — — — — Included in other comprehensive income (loss) 825 67 848 (124 ) Purchases, issuances, sales and settlements: Purchases — — — — Issuances — — — — Sales — — — — Settlements (39 ) (19 ) (76 ) (36 ) Ending balance $ 2,424 $ 1,746 $ 2,424 $ 1,746 Total gains or losses for the period included in net income attributable to the change in unrealized gains or losses related to assets and liabilities still held at the reporting date $ — $ — $ — $ — Following is a description of the valuation methodologies used for assets measured at fair value on a nonrecurring basis and recognized in the accompanying balance sheets, as well as the general classification of such assets pursuant to the valuation hierarchy. Impaired Loans (Collateral Dependent). Loans for which it is probable that the Company will not collect all principal and interest due according to contractual terms are measured for impairment. Allowable methods for determining the amount of impairment and estimating fair value include using the fair value of the collateral for collateral dependent loans. If the impaired loan is identified as collateral dependent, then the fair value method of measuring the amount of impairment is utilized. This method requires obtaining a current independent appraisal of the collateral and applying a discount factor to the value. Impaired loans that are collateral dependent are classified within Level 3 of the fair value hierarchy when impairment is determined using the fair value method. Management establishes a specific allowance for impaired loans that have an estimated fair value that is below the carrying value. The total carrying amount of loans for which a change in specific allowance has occurred as of June 30, 2017 was $9,563,000 and a fair value of $9,321,000 resulting in specific loss exposures of $242,000 . When there is little prospect of collecting principal or interest, loans, or portions of loans, may be charged-off to the allowance for loan losses. Losses are recognized in the period an obligation becomes uncollectible. The recognition of a loss 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 the loan even though partial recovery may be affected in the future. Foreclosed Assets Held For Sale. Other real estate owned acquired through loan foreclosure are initially recorded at fair value less costs to sell when acquired, establishing a new cost basis. The adjustment at the time of foreclosure is recorded through the allowance for loan losses. Due to the subjective nature of establishing the fair value when the asset is acquired, the actual fair value of the other real estate owned or foreclosed asset could differ from the original estimate. If it is determined that fair value declines subsequent to foreclosure, a valuation allowance is recorded through noninterest expense. Operating costs associated with the assets after acquisition are also recorded as noninterest expense. Gains and losses on the disposition of other real estate owned and foreclosed assets are netted and posted to other noninterest expense. The total carrying amount of other real estate owned as of June 30, 2017 was $2,689,000 . Other real estate owned included in the total carrying amount and measured at fair value on a nonrecurring basis during the period amounted to $111,000 . The following table presents the fair value measurement of assets measured at fair value on a nonrecurring basis and the level within the fair value hierarchy in which the fair value measurements fall at June 30, 2017 and December 31, 2016 (in thousands): Fair Value Measurements Using Fair Value Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) June 30, 2017 Impaired loans (collateral dependent) $ 9,321 $ — $ — $ 9,321 Foreclosed assets held for sale 111 — — 111 December 31, 2016 Impaired loans (collateral dependent) $ 6,938 $ — $ — $ 6,938 Foreclosed assets held for sale 173 — — 173 Sensitivity of Significant Unobservable Inputs The following is a discussion of the sensitivity of significant unobservable inputs, the interrelationships between those inputs and other unobservable inputs used in recurring fair value measurement and of how those inputs might magnify or mitigate the effect of changes in the unobservable inputs on the fair value measurement. Trust Preferred Securities. The significant unobservable inputs used in the fair value measurement of the Company’s trust preferred securities are offered quotes and comparability adjustments. Significant increases (decreases) in any of those inputs in isolation would result in a significantly lower (higher) fair value measurement. Generally, changes in either of those inputs will not affect the other input. The following table presents quantitative information about unobservable inputs used in recurring and nonrecurring Level 3 fair value measurements other than goodwill at June 30, 2017 and December 31, 2016 (in thousands). June 30, 2017 Fair Value Valuation Technique Unobservable Inputs Range (Weighted Average) Trust Preferred Securities $ 2,424 Discounted cash flow Discount rate 13.3% Constant prepayment rate (1) 1.3% Cumulative projected prepayments 21.8% Probability of default 0.5% Projected cures given deferral 0.0% Loss severity 97.6% Impaired loans (collateral dependent) $ 9,321 Third party valuations Discount to reflect realizable value 0 % - 40% ( 20% ) Foreclosed assets held for sale $ 111 Third party valuations Discount to reflect realizable value less estimated selling costs 0 % - 40% ( 35% ) December 31, 2016 Fair Value Valuation Technique Unobservable Inputs Range (Weighted Average) Trust Preferred Securities $ 1,652 Discounted cash flow Discount rate 13.6% Constant prepayment rate (1) 1.3% Cumulative projected prepayments 22.4% Probability of default 0.5% Projected cures given deferral 0.0% Loss severity 97.6% Impaired loans (collateral dependent) $ 6,938 Third party valuations Discount to reflect realizable value 0 % - 40% ( 20% ) Foreclosed assets held for sale $ 173 Third party valuations Discount to reflect realizable value less estimated selling costs 0 % - 40% ( 35% ) (1) Every five years Other. The following methods were used to estimate the fair value of all other financial instruments recognized in the accompanying balance sheets at amounts other than fair value. Cash and Cash Equivalents, Federal Funds Sold, Interest Receivable and Federal Reserve and Federal Home Loan Bank Stock. The carrying amount approximates fair value. Certificates of Deposit Investments. The fair value of certificates of deposit investments is estimated using a discounted cash flow calculation that applies the rates currently offered for deposits of similar remaining maturities. Held-to-Maturity Securities. Fair Value is based on quoted market prices, if available. If a quoted market price is not available, fair value is estimated using quoted market prices for similar securities. Loans Held for Sale. Loans expected to be sold are classified as held for sale and are recorded at the lower of aggregate cost or market value. Loans. For loans with floating interest rates, it is assumed that the estimated fair values generally approximate the carrying amount balances. Fixed rate loans have been valued using a discounted present value of projected cash flow. The discount rate used in these calculations is the current rate at which similar loans would be made to borrowers with similar credit ratings and for the same remaining maturities. The carrying amount of accrued interest approximates its fair value. Deposits. Deposits include demand deposits, savings accounts, NOW accounts and certain money market deposits. The carrying amount of these deposits approximates fair value. The fair value of fixed-maturity time deposits is estimated using a discounted cash flow calculation that applies the rates currently offered for deposits of similar remaining maturities. Securities Sold Under Agreements to Repurchase. The fair value of securities sold under agreements to repurchased is estimated using a discounted cash flow calculation that applies the rates currently offered for deposits of similar remaining maturities. Interest Payable. The carrying amount approximates fair value. Junior Subordinated Debentures, Federal Home Loan Bank Borrowings and Other Borrowings. Rates currently available to the Company for debt with similar terms and remaining maturities are used to estimate the fair value of existing debt. The following tables present estimated fair values of the Company’s financial instruments at June 30, 2017 and December 31, 2016 in accordance with FAS 107-1 and APB 28-1, codified with ASC 805 (in thousands): Carrying Amount Fair Value Level 1 Level 2 Level 3 June 30, 2017 Financial Assets Cash and due from banks $ 73,398 $ 73,398 $ 73,398 $ — $ — Federal funds sold 491 491 491 — — Certificates of deposit investments 1,685 1,712 — 1,712 — Available-for-sale securities 682,140 682,140 151 679,565 2,424 Held-to-maturity securities 74,281 74,224 — 74,224 — Loans held for sale 1,932 1,932 — 1,932 — Loans net of allowance for loan losses 1,805,493 1,724,890 — — 1,724,890 Interest receivable 9,620 9,620 — 9,620 — Federal Reserve Bank stock 4,128 4,128 — 4,128 — Federal Home Loan Bank stock 2,407 2,407 — 2,407 — Financial Liabilities Deposits $ 2,289,406 $ 2,293,494 $ — $ 1,960,434 $ 333,060 Securities sold under agreements to repurchase 142,411 142,406 — 142,406 — Interest payable 502 502 — 502 — Federal Home Loan Bank borrowings 45,066 45,408 — 45,408 — Other borrowings 12,188 12,188 — 12,188 — Junior subordinated debentures 23,959 17,396 — 17,396 — Carrying Amount Fair Value Level 1 Level 2 Level 3 December 31, 2016 Financial Assets Cash and due from banks $ 137,002 $ 137,002 $ 137,002 $ — $ — Federal funds sold 38,900 38,900 38,900 — — Certificates of deposit investments 14,643 14,651 — 14,651 — Available-for-sale securities 619,848 619,848 144 618,052 1,652 Held-to-maturity securities 74,231 73,096 — 73,096 — Loans held for sale 1,175 1,175 — 1,175 — Loans net of allowance for loan losses 1,808,064 1,795,764 — — 1,795,764 Interest receivable 10,553 10,553 — 10,553 — Federal Reserve Bank stock 3,949 3,949 — 3,949 — Federal Home Loan Bank stock 4,389 4,389 — 4,389 — Financial Liabilities Deposits $ 2,329,887 $ 2,331,725 $ — $ 1,976,806 $ 354,919 Securities sold under agreements to repurchase 185,763 185,766 — 185,766 — Interest payable 535 535 — 535 — Federal Home Loan Bank borrowings 40,094 40,318 — 40,318 — Other borrowings 18,063 18,063 — 18,063 — Junior subordinated debentures 23,917 17,068 — 17,068 — |
Business Combinations (Notes)
Business Combinations (Notes) | 6 Months Ended |
Jun. 30, 2017 | |
Business Combinations [Abstract] | |
Business Combination Disclosure [Text Block] | Business Combinations First Clover Leaf Financial Corp On April 26, 2016, the Company entered into an Agreement and Plan of Merger (the "Merger Agreement") with First Clover Leaf Financial Corp., a Maryland corporation ("First Clover Leaf"), pursuant to which, amongst other things, the Company agreed to acquire 100% of the issued and outstanding shares of First Clover Leaf pursuant to a business combination whereby First Clover Leaf would merge with and into the Company, with the Company as the surviving entity (the "Merger"). At the effective time of the Merger, 25% of the shares of First Clover Leaf common stock issued and outstanding immediately prior to the effective time of the Merger converted into the right to receive $12.87 per share, for an approximate aggregate total of $22,545,000 , and 75% of the shares of First Clover Leaf common stock issued and outstanding immediately prior to the effective time of the Merger converted into the right to receive 0.495 shares of the Company’s common stock, par value $4.00 per share, for an approximate aggregate total of 2,600,616 shares of the Company’s common stock. Cash in lieu of fractional shares of Company common stock were issued in connection with the Merger. First Clover Leaf had $659 million in assets at book value including $449 million in loans and $535 million in deposits. As a result of the acquisition, the Company increased its deposit base and reduced transaction costs. The Company also expects to reduce costs through economies of scale. The acquisition was accounted for under the acquisition method of accounting in accordance with ASC 805, “ Business Combinations ("ASC 805"), ” and accordingly the assets and liabilities were recorded at their estimated fair values on the date of acquisition. Fair values are subject to refinement for up to one year after the closing date of September 8, 2016 as additional information regarding the closing date fair values become available. The total consideration paid was used to determine the amount of goodwill resulting from the transaction. As the total consideration paid exceeded the net assets acquired, goodwill of $16.8 million was recorded for the acquisition. Goodwill recorded in the transaction, which reflects the synergies and economies of scale expected from combining operations and the enhanced revenue opportunities from the Company’s service capabilities in the St. Louis market, is not tax deductible, and was all assigned to the banking segment of the Company. The following table summarizes the estimated fair values of assets acquired and liabilities assumed at the date of the First Clover Leaf acquisition (in thousands). Acquired Fair Value Adjustments As Recorded by Assets Cash $ 59,320 $ — $ 59,320 Investment Securities 109,911 (737 ) 109,174 Loans 448,668 (10,403 ) 438,265 Allowance for loan losses (6,928 ) 6,928 — Other real estate owned 2,741 (754 ) 1,987 Premises and equipment 9,618 1,963 11,581 Goodwill 11,385 5,400 16,785 Core deposit intangible 99 4,561 4,660 Other assets 23,974 3,159 27,133 Total assets acquired $ 658,788 $ 10,117 $ 668,905 Liabilities and Stockholders' Equity Deposits $ 534,692 $ 1,994 $ 536,686 Securities sold under agreements to repurchase 23,263 — 23,263 FHLB advances 15,000 113 15,113 Subordinated debentures 4,000 (731 ) 3,269 Other liabilities 2,103 — 2,103 Total liabilities assumed 579,058 1,376 580,434 Net assets acquired $ 79,730 $ 8,741 $ 88,471 Consideration Paid Cash $ 22,545 Common stock 65,926 Total consideration paid $ 88,471 The Company has recognized approximately $3,293,000 , pre-tax, of acquisition costs for the First Clover Leaf acquisition of which $1,953,000 was recorded for 2017. These costs are included in legal and professional and other expense. Of the $10.4 million difference between the fair value and acquired value of the purchased loans, approximately $8.4 million is being accreted to interest income over the remaining term of the loans. The differences between fair value and acquired value of the assumed time deposits of $1.99 million , of the assumed FHLB advances of $113,000 and of the assumed subordinated debentures of $(731,000) , are being amortized to interest expense over the remaining life of the liabilities. The core deposit intangible asset, with a fair value of $4.7 million , will be amortized on an accelerated basis over its estimated life of ten years . The following unaudited pro forma condensed combined financial information presents the results of operations of the Company, including the effects of the purchase accounting adjustments and acquisition expenses, had the First Clover Leaf acquisition taken place at the beginning of the period (dollars in thousands): Three months ended Six months ended June 30, June 30, 2016 2016 Net interest income $ 21,214 $ 42,915 Provision for loan losses 803 961 Non-interest income 7,165 14,422 Non-interest expense 18,710 38,012 Income before income taxes 8,866 18,364 Income tax expense 2,893 6,103 Net income 5,973 12,261 Dividends on preferred shares — — Net income available to common stockholders $ 5,973 $ 12,261 Earnings per share Basic $ 0.51 $ 1.08 Diluted $ 0.48 $ 0.99 Basic weighted average shares outstanding 11,753,325 11,404,723 Diluted weighted average shares outstanding 12,445,488 12,432,707 The unaudited pro forma condensed combined financial statements do not reflect any anticipated cost savings and revenue enhancements. Accordingly, the pro forma results of operations of the Company as of and after the First Clover Leaf business combination may not be indicative of the results that actually would have occurred if the combination had been in effect during the periods presented or of the results that may be attained in the future. |
Basis of Accounting and Conso16
Basis of Accounting and Consolidation (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Schedule of Amounts Recognized in Other Comprehensive Income (Loss) [Table Text Block] | The components of accumulated other comprehensive income (loss) included in stockholders’ equity as of June 30, 2017 and December 31, 2016 are as follows (in thousands): Unrealized Gain (Loss) on Securities Securities with Other-Than-Temporary Impairment Losses Total June 30, 2017 Net unrealized gains on securities available-for-sale $ 5,229 $ — $ 5,229 Unamortized losses on held-to-maturity securities transferred from available-for-sale (338 ) — (338 ) Securities with other-than-temporary impairment losses — (550 ) (550 ) Tax benefit (expense) (1,906 ) 214 (1,692 ) Balance at June 30, 2017 $ 2,985 $ (336 ) $ 2,649 December 31, 2016 Net unrealized losses on securities available-for-sale $ (7,649 ) $ — $ (7,649 ) Unamortized losses on held-to-maturity securities transferred from available-for-sale (394 ) — (394 ) Securities with other-than-temporary impairment losses — (1,398 ) (1,398 ) Tax benefit 3,135 545 3,680 Balance at December 31, 2016 $ (4,908 ) $ (853 ) $ (5,761 ) |
Schedule of Amounts Reclassified from Accumulated Other Comprehensive Income [Table Text Block] | mounts reclassified from accumulated other comprehensive income and the affected line items in the statements of income during the six months ended June 30, 2017 and 2016 , were as follows (in thousands): Amounts Reclassified from Other Comprehensive Income Affected Line Item in the Statements of Income Three months ended June 30, Six months ended June 30, 2017 2016 2017 2016 Realized gains on available-for-sale securities $ 335 $ 404 $ 335 $ 664 Securities gains, net (Total reclassified amount before tax) (131 ) (157 ) (131 ) (259 ) Income taxes Total reclassifications out of accumulated other comprehensive income $ 204 $ 247 $ 204 $ 405 Net reclassified amount |
Earnings Per Share (Tables)
Earnings Per Share (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Earnings Per Share [Abstract] | |
Components of Basic and Diluted Net Income per Common Share | The components of basic and diluted net income per common share available to common stockholders for the three and six -month period ended June 30, 2017 and 2016 were as follows: Three months ended June 30, Six months ended June 30, 2017 2016 2017 2016 Basic Net Income per Common Share Available to Common Stockholders: Net income $ 8,200,000 $ 4,929,000 $ 14,464,000 $ 9,735,000 Preferred stock dividends — (275,000 ) — (825,000 ) Net income available to common stockholders $ 8,200,000 $ 4,654,000 $ 14,464,000 $ 8,910,000 Weighted average common shares outstanding 12,491,757 9,152,709 12,483,788 8,804,107 Basic earnings per common share $ 0.66 $ 0.51 $ 1.16 $ 1.01 Diluted Net Income per Common Share Available to Common Stockholders: Net income available to common stockholders $ 8,200,000 $ 4,654,000 $ 14,464,000 $ 8,910,000 Effect of assumed preferred stock conversion — 275,000 — 825,000 Net income applicable to diluted earnings per share $ 8,200,000 $ 4,929,000 $ 14,464,000 $ 9,735,000 Weighted average common shares outstanding 12,491,757 9,152,709 12,483,788 8,804,107 Dilutive potential common shares: Assumed conversion of stock options — 1,864 — 2,045 Restricted stock awarded 836 5,232 836 5,232 Assumed conversion of preferred stock 7,338 685,067 7,338 1,020,207 Dilutive potential common shares 8,174 692,163 8,174 1,027,484 Diluted weighted average common shares outstanding 12,499,931 9,844,872 12,491,962 9,831,591 Diluted earnings per common share $ 0.66 $ 0.50 $ 1.16 $ 0.99 |
Anti-dilutive Securities | The following shares were not considered in computing diluted earnings per share for the three and six -month periods ended June 30, 2017 and 2016 because they were anti-dilutive: Three months ended June 30, Six months ended June 30, 2017 2016 2017 2016 Stock options to purchase shares of common stock — 24,500 — 24,500 |
Investment Securities (Tables)
Investment Securities (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Investments, Debt and Equity Securities [Abstract] | |
Available For Sale And Held For Maturity Securities [Table Text Block] | The amortized cost, gross unrealized gains and losses and estimated fair values for available-for-sale and held-to-maturity securities by major security type at June 30, 2017 and December 31, 2016 were as follows (in thousands): Amortized Cost Gross Unrealized Gains Gross Unrealized (Losses) Fair Value June 30, 2017 Available-for-sale: U.S. Treasury securities and obligations of U.S. government corporations & agencies $ 143,014 $ 627 $ (1,068 ) $ 142,573 Obligations of states and political subdivisions 172,446 4,000 (434 ) 176,012 Mortgage-backed securities: GSE residential 354,993 2,967 (1,016 ) 356,944 Trust preferred securities 2,974 — (550 ) 2,424 Other securities 4,034 153 — 4,187 Total available-for-sale $ 677,461 $ 7,747 $ (3,068 ) $ 682,140 Held-to-maturity: U.S. Treasury securities and obligations of U.S. government corporations & agencies $ 74,281 $ 405 $ (462 ) $ 74,224 December 31, 2016 Available-for-sale: U.S. Treasury securities and obligations of U.S. government corporations & agencies $ 138,819 $ 13 $ (2,508 ) $ 136,324 Obligations of states and political subdivisions 164,163 1,346 (2,804 ) 162,705 Mortgage-backed securities: GSE residential 318,829 531 (4,369 ) 314,991 Trust preferred securities 3,050 — (1,398 ) 1,652 Other securities 4,034 147 (5 ) 4,176 Total available-for-sale $ 628,895 $ 2,037 $ (11,084 ) $ 619,848 Held-to-maturity: U.S. Treasury securities and obligations of U.S. government corporations & agencies $ 74,231 $ 203 $ (1,338 ) $ 73,096 Trust preferred securities represents one trust preferred pooled security issued by First Tennessee Financial (“FTN”). The unrealized loss of this security, which has a remaining maturity of twenty years , is primarily due to its long-term nature, a lack of demand or inactive market for the security, and concerns regarding the underlying financial institutions that have issued the trust preferred security. See the heading “Trust Preferred Securities” for further information regarding this security. |
Realized Gains and Losses From Sale of Securities | Realized gains and losses resulting from sales of securities were as follows during the six months ended June 30, 2017 and 2016 (in thousands): Three months ended June 30, Six months ended June 30, 2017 2016 2017 2016 Gross gains $ 352 $ 404 $ 352 $ 664 Gross losses (17 ) — (17 ) — |
Investments Classified by Contractual Maturity Date | The following table indicates the expected maturities of investment securities classified as available-for-sale presented at fair value, and held-to-maturity presented at amortized cost, at June 30, 2017 and the weighted average yield for each range of maturities (dollars in thousands): One year or less After 1 through 5 years After 5 through 10 years After ten years Total Available-for-sale: U.S. Treasury securities and obligations of U.S. government corporations and agencies $ 80,317 $ 49,608 $ 12,648 $ — $ 142,573 Obligations of state and political subdivisions 18,742 85,828 69,484 1,958 176,012 Mortgage-backed securities: GSE residential 636 265,471 90,837 — 356,944 Trust preferred securities — — — 2,424 2,424 Other securities — 2,007 2,030 150 4,187 Total available-for-sale investments $ 99,695 $ 402,914 $ 174,999 $ 4,532 $ 682,140 Weighted average yield 2.14 % 2.49 % 2.62 % 2.65 % 2.47 % Full tax-equivalent yield 2.54 % 2.89 % 3.43 % 3.60 % 2.98 % Held to Maturity: U.S. Treasury securities and obligations of U.S. government corporations and agencies $ 44,993 $ 29,288 $ — $ — $ 74,281 Weighted average yield 1.79 % 2.08 % — % — % 1.90 % Full tax-equivalent yield 1.79 % 2.08 % — % — % 1.90 % The weighted average yields are calculated on the basis of the amortized cost and effective yields weighted for the scheduled maturity of each security. Tax-equivalent yields have been calculated using a 35% tax rate. With the exception of obligations of the U.S. Treasury and other U.S. government agencies and corporations, there were no investment securities of any single issuer, the book value of which exceeded 10% of stockholders' equity at June 30, 2017 . |
Fair value of investments with sustained gross unrealized losses | The following table presents the aging of gross unrealized losses and fair value by investment category as of June 30, 2017 and December 31, 2016 (in thousands): Less than 12 months 12 months or more Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses June 30, 2017 Available-for-sale: U.S. Treasury securities and obligations of U.S. government corporations and agencies $ 81,271 $ (1,068 ) $ — $ — $ 81,271 $ (1,068 ) Obligations of states and political subdivisions 32,928 (434 ) — — 32,928 (434 ) Mortgage-backed securities: GSE residential 95,279 (797 ) 7,123 (219 ) 102,402 (1,016 ) Trust preferred securities — — 2,424 (550 ) 2,424 (550 ) Other securities — — — — — — Total $ 209,478 $ (2,299 ) $ 9,547 $ (769 ) $ 219,025 $ (3,068 ) Held-to-maturity: U.S. Treasury securities and obligations of U.S. government corporations and agencies $ 44,558 $ (462 ) $ — $ — $ 44,558 $ (462 ) December 31, 2016 Available-for-sale: U.S. Treasury securities and obligations of U.S. government corporations and agencies $ 125,257 $ (2,508 ) $ — $ — $ 125,257 $ (2,508 ) Obligations of states and political subdivisions 93,405 (2,804 ) — — 93,405 (2,804 ) Mortgage-backed securities: GSE residential 266,319 (4,099 ) 5,878 (270 ) 272,197 (4,369 ) Trust preferred securities — — 1,652 (1,398 ) 1,652 (1,398 ) Other securities — — 1,995 (5 ) 1,995 (5 ) Total $ 484,981 $ (9,411 ) $ 9,525 $ (1,673 ) $ 494,506 $ (11,084 ) Held-to-maturity: U.S. Treasury securities and obligations of U.S. government corporations and agencies $ 53,295 $ (1,338 ) $ — $ — $ 53,295 $ (1,338 ) |
Trust Preferred Securities [Table Text Block] | Following are the details for the currently impaired trust preferred security (in thousands): Book Value Fair Value Unrealized Gains (Losses) Other-than- temporary Impairment Recorded To-date PreTSL XXVIII $ 2,974 $ 2,424 $ (550 ) $ (1,111 ) |
Credit Losses Recognized on Investments | Credit Losses Recognized on Investments. As described above, the Company’s investment in trust preferred security has experienced fair value deterioration due to credit losses but is not otherwise other-than-temporarily impaired. The following table provides information about the trust preferred security for which only a credit loss was recognized in income and other losses are recorded in other comprehensive income (loss) for the six months ended June 30, 2017 and 2016 (in thousands). Accumulated Credit Losses June 30, 2017 June 30, 2016 Credit losses on trust preferred securities held Beginning of period $ 1,111 $ 1,111 Additions related to OTTI losses not previously recognized — — Reductions due to sales / (recoveries) — — Reductions due to change in intent or likelihood of sale — — Additions related to increases in previously recognized OTTI losses — — Reductions due to increases in expected cash flows — — End of period $ 1,111 $ 1,111 |
Loans and Allowance for Loan 19
Loans and Allowance for Loan Losses (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Receivables [Abstract] | |
Summary of Loans | Loans are stated at the principal amount outstanding net of unearned discounts, unearned income and allowance for loan losses. Unearned income includes deferred loan origination fees reduced by loan origination costs and is amortized to interest income over the life of the related loan using methods that approximated the effective interest rate method. Interest on substantially all loans is credited to income based on the principal amount outstanding. A summary of loans at June 30, 2017 and December 31, 2016 follows (in thousands): June 30, December 31, Construction and land development $ 68,847 $ 49,366 Agricultural real estate 123,508 126,216 1-4 Family residential properties 311,699 328,119 Multifamily residential properties 72,660 83,478 Commercial real estate 635,420 633,694 Loans secured by real estate 1,212,134 1,220,873 Agricultural loans 79,763 86,735 Commercial and industrial loans 422,982 412,637 Consumer loans 33,132 38,404 All other loans 85,338 77,602 Total Gross loans 1,833,349 1,836,251 Less: Loans held for sale 1,932 1,175 1,831,417 1,835,076 Less: Net deferred loan fees, premiums and discounts 7,715 10,259 Allowance for loan losses 18,209 16,753 Net loans $ 1,805,493 $ 1,808,064 |
Allowance for Loan Losses and Recorded Investment in Loans | The following tables present the balance in the allowance for loan losses and the recorded investment in loans based on portfolio segment and impairment method for the three and six -months ended June 30, 2017 and 2016 and for the year ended December 31, 2016 (in thousands): Commercial/ Commercial Real Estate Agricultural/ Agricultural Real Estate Residential Real Estate Consumer Unallocated Total Three months ended June 30, 2017 Allowance for loan losses: Balance, beginning of period $ 13,771 $ 2,319 $ 978 $ 751 $ 27 $ 17,846 Provision charged to expense 1,667 86 23 57 7 1,840 Losses charged off (871 ) (662 ) (50 ) (135 ) — (1,718 ) Recoveries 180 — 18 43 — 241 Balance, end of period $ 14,747 $ 1,743 $ 969 $ 716 $ 34 $ 18,209 Ending balance: Individually evaluated for impairment $ 194 $ — $ 47 $ 1 $ — $ 242 Collectively evaluated for impairment $ 14,553 $ 1,743 $ 922 $ 715 $ 34 $ 17,967 Acquired with deteriorated credit quality $ — $ — $ — $ — $ — $ — Commercial/ Commercial Real Estate Agricultural/ Agricultural Real Estate Residential Real Estate Consumer Unallocated Total Three months ended June 30, 2016 Allowance for loan losses: Balance, beginning of period $ 11,789 $ 1,270 $ 926 $ 710 $ 41 $ 14,736 Provision charged to expense 388 179 56 88 22 733 Losses charged off (572 ) — (58 ) (109 ) — (739 ) Recoveries 390 — — 44 — 434 Balance, end of period $ 11,995 $ 1,449 $ 924 $ 733 $ 63 $ 15,164 Ending balance: Individually evaluated for impairment $ 297 $ — $ — $ — $ — $ 297 Collectively evaluated for impairment $ 11,698 $ 1,449 $ 924 $ 733 $ 63 $ 14,867 Acquired with deteriorated credit quality $ — $ — $ — $ — $ — $ — Six months ended June 30, 2017 Allowance for loan losses: Balance, beginning of year $ 12,901 $ 2,249 $ 874 $ 693 $ 36 $ 16,753 Provision charged to expense 3,133 155 169 107 (2 ) 3,562 Losses charged off (1,483 ) (662 ) (99 ) (237 ) — (2,481 ) Recoveries 196 1 25 153 — 375 Balance, end of period $ 14,747 $ 1,743 $ 969 $ 716 $ 34 $ 18,209 Ending balance: Individually evaluated for impairment $ 194 $ — $ 47 $ 1 $ — $ 242 Collectively evaluated for impairment $ 14,553 $ 1,743 $ 922 $ 715 $ 34 $ 17,967 Acquired with deteriorated credit quality $ — $ — $ — $ — $ — $ — Loans: Individually evaluated for impairment $ 5,653 $ 261 $ 1,494 $ 248 $ — $ 7,656 Collectively evaluated for impairment 1,241,763 202,620 331,874 35,611 $ — 1,811,868 Acquired with deteriorated credit quality 6,110 — — — $ — 6,110 Ending balance $ 1,253,526 $ 202,881 $ 333,368 $ 35,859 $ — $ 1,825,634 Commercial/ Commercial Real Estate Agricultural/ Agricultural Real Estate Residential Real Estate Consumer Unallocated Total Six months ended June 30, 2016 Allowance for loan losses: Balance, beginning of year $ 11,379 $ 1,337 $ 994 $ 642 $ 224 $ 14,576 Provision charged to expense 613 111 72 211 (161 ) 846 Losses charged off (612 ) — (142 ) (222 ) — (976 ) Recoveries 615 1 — 102 — 718 Balance, end of period $ 11,995 $ 1,449 $ 924 $ 733 $ 63 $ 15,164 Ending balance: Individually evaluated for impairment $ 297 $ — $ — $ — $ — $ 297 Collectively evaluated for impairment $ 11,698 $ 1,449 $ 924 $ 733 $ 63 $ 14,867 Acquired with deteriorated credit quality $ — $ — $ — $ — $ — $ — Loans: Individually evaluated for impairment $ 1,555 $ 430 $ — $ 21 $ — $ 2,006 Collectively evaluated for impairment 855,595 194,384 221,546 41,656 — 1,313,181 Acquired with deteriorated credit quality — — — — — — Ending balance $ 857,150 $ 194,814 $ 221,546 $ 41,677 $ — $ 1,315,187 Year ended December 31, 2016 Allowance for loan losses: Balance, beginning of year $ 11,379 $ 1,337 $ 994 $ 642 $ 224 $ 14,576 Provision charged to expense 1,467 933 113 501 (188 ) 2,826 Losses charged off (747 ) (30 ) (234 ) (664 ) — (1,675 ) Recoveries 802 9 1 214 — 1,026 Balance, end of year $ 12,901 $ 2,249 $ 874 $ 693 $ 36 $ 16,753 Ending balance: Individually evaluated for impairment $ 192 $ 660 $ 6 $ — $ — $ 858 Collectively evaluated for impairment $ 12,695 $ 1,589 $ 868 $ 693 $ 36 $ 15,881 Acquired with deteriorated credit quality $ 14 $ — $ — $ — $ — $ 14 Loans: Individually evaluated for impairment $ 1,956 $ 1,345 $ 1,752 $ 213 $ — $ 5,266 Collectively evaluated for impairment 1,199,003 211,168 360,825 41,644 — 1,812,640 Acquired with deteriorated credit quality 3,840 — 4,246 — — 8,086 Ending balance $ 1,204,799 $ 212,513 $ 366,823 $ 41,857 $ — $ 1,825,992 |
Credit Risk Profile of the Company's Loan Portfolio | Loans not meeting the criteria above that are analyzed individually as part of the above described process are considered pass rated loans. The following tables present the credit risk profile of the Company’s loan portfolio based on rating category and payment activity as of June 30, 2017 and December 31, 2016 (in thousands): Construction & Land Development Agricultural Real Estate 1-4 Family Residential Properties Multifamily Residential Properties 2017 2016 2017 2016 2017 2016 2017 2016 Pass $ 68,088 $ 48,877 $ 117,180 $ 118,934 $ 299,314 $ 318,921 $ 67,002 $ 81,018 Special Mention — — 5,213 5,190 2,623 918 1,618 1,651 Substandard 593 227 1,027 1,984 8,585 6,576 3,872 531 Doubtful — — — — — — — — Total $ 68,681 $ 49,104 $ 123,420 $ 126,108 $ 310,522 $ 326,415 $ 72,492 $ 83,200 Commercial Real Estate (Nonfarm/Nonresidential) Agricultural Loans Commercial & Industrial Loans Consumer Loans 2017 2016 2017 2016 2017 2016 2017 2016 Pass $ 594,806 $ 610,025 $ 74,333 $ 81,922 $ 401,352 $ 397,762 $ 32,366 $ 37,624 Special Mention 17,160 5,229 2,534 3,271 17,648 8,485 14 17 Substandard 20,526 14,881 2,892 1,492 2,280 2,786 434 387 Doubtful — — — — — — — — Total $ 632,492 $ 630,135 $ 79,759 $ 86,685 $ 421,280 $ 409,033 $ 32,814 $ 38,028 All Other Loans Total Loans 2017 2016 2017 2016 Pass $ 81,418 $ 74,377 $ 1,735,859 $ 1,769,460 Special Mention 2,756 2,892 49,566 27,653 Substandard — 15 40,209 28,879 Doubtful — — — — Total $ 84,174 $ 77,284 $ 1,825,634 $ 1,825,992 |
Loan Portfolio Aging Analysis | The following table presents the Company’s loan portfolio aging analysis at June 30, 2017 and December 31, 2016 (in thousands): 30-59 Days Past Due 60-89 Days Past Due 90 Days or More Past Due Total Past Due Current Total Loans Receivable Total Loans > 90 Days & Accruing June 30, 2017 Construction and land development $ — $ — $ — $ — $ 68,681 $ 68,681 $ — Agricultural real estate 237 299 104 640 122,780 123,420 — 1-4 Family residential properties 1,462 57 1,235 2,754 307,768 310,522 — Multifamily residential properties — 98 — 98 72,394 72,492 — Commercial real estate 1,720 304 1,196 3,220 629,272 632,492 — Loans secured by real estate 3,419 758 2,535 6,712 1,200,895 1,207,607 — Agricultural loans 931 199 — 1,130 78,629 79,759 — Commercial and industrial loans 455 49 176 680 420,600 421,280 — Consumer loans 160 3 88 251 32,563 32,814 — All other loans — — — — 84,174 84,174 — Total loans $ 4,965 $ 1,009 $ 2,799 $ 8,773 $ 1,816,861 $ 1,825,634 $ — December 31, 2016 Construction and land development $ — $ — $ — $ — $ 49,104 $ 49,104 $ — Agricultural real estate — 131 293 424 125,684 126,108 — 1-4 Family residential properties 1,854 713 1,008 3,575 322,840 326,415 105 Multifamily residential properties — — 240 240 82,960 83,200 — Commercial real estate 1,662 716 43 2,421 627,714 630,135 — Loans secured by real estate 3,516 1,560 1,584 6,660 1,208,302 1,214,962 105 Agricultural loans 365 84 37 486 86,199 86,685 — Commercial and industrial loans 395 155 249 799 408,234 409,033 — Consumer loans 192 37 11 240 37,788 38,028 — All other loans — — — — 77,284 77,284 — Total loans $ 4,468 $ 1,836 $ 1,881 $ 8,185 $ 1,817,807 $ 1,825,992 $ 105 |
Impaired Loans | The following tables present impaired loans as of June 30, 2017 and December 31, 2016 (in thousands): June 30, 2017 December 31, 2016 Recorded Balance Unpaid Principal Balance Specific Allowance Recorded Balance Unpaid Principal Balance Specific Allowance Loans with a specific allowance: Construction and land development $ 593 $ 593 $ — $ 227 $ 227 $ — Agricultural real estate — — — — — — 1-4 Family residential properties 1,494 1,762 47 997 997 6 Multifamily residential properties 605 605 — 528 528 — Commercial real estate 3,589 3,703 78 863 884 — Loans secured by real estate 6,281 6,663 125 2,615 2,636 6 Agricultural loans 261 1,071 — 1,345 1,345 660 Commercial and industrial loans 866 1,051 116 1,093 1,191 192 Consumer loans 248 248 1 213 213 — All other loans — — — — — — Total loans $ 7,656 $ 9,033 $ 242 $ 5,266 $ 5,385 $ 858 Loans without a specific allowance: Construction and land development $ — $ — $ — $ — $ — $ — Agricultural real estate 16 17 — 205 207 — 1-4 Family residential properties 1,403 1,869 — 2,497 3,207 — Multifamily residential properties 3,395 3,395 — 3,419 3,547 — Commercial real estate 2,924 3,154 — 6,224 6,802 — Loans secured by real estate 7,738 8,435 — 12,345 13,763 — Agricultural loans 565 7 — 43 66 — Commercial and industrial loans 1,086 1,374 — 378 572 — Consumer loans 80 90 — 206 211 — All other loans — — — — — — Total loans $ 9,469 $ 9,906 $ — $ 12,972 $ 14,612 $ — Total loans: Construction and land development $ 593 $ 593 $ — $ 227 $ 227 $ — Agricultural real estate 16 17 — 205 207 — 1-4 Family residential properties 2,897 3,631 47 3,494 4,204 6 Multifamily residential properties 4,000 4,000 — 3,947 4,075 — Commercial real estate 6,513 6,857 78 7,087 7,686 — Loans secured by real estate 14,019 15,098 125 14,960 16,399 6 Agricultural loans 826 1,078 — 1,388 1,411 660 Commercial and industrial loans 1,952 2,425 116 1,471 1,763 192 Consumer loans 328 338 1 419 424 — All other loans — — — — — — Total loans $ 17,125 $ 18,939 $ 242 $ 18,238 $ 19,997 $ 858 |
Impaired loans by portfolio class | The following tables present average recorded investment and interest income recognized on impaired loans for the three and six -month periods ended June 30, 2017 and 2016 (in thousands): For the three months ended June 30, 2017 June 30, 2016 Average Investment in Impaired Loans Interest Income Recognized Average Investment in Impaired Loans Interest Income Recognized Construction and land development $ 594 $ — $ 580 $ — Agricultural real estate 16 — 450 — 1-4 Family residential properties 2,929 106 1,244 4 Multifamily residential properties 4,129 51 305 — Commercial real estate 7,068 31 1,132 1 Loans secured by real estate 14,736 188 3,711 5 Agricultural loans 826 — 15 — Commercial and industrial loans 1,781 2 1,100 — Consumer loans 625 — 260 — All other loans — — 10 — Total loans $ 17,968 $ 190 $ 5,096 $ 5 For the six months ended June 30, 2017 June 30, 2016 Average Investment in Impaired Loans Interest Income Recognized Average Investment in Impaired Loans Interest Income Recognized Construction and land development $ 347 $ — $ 632 $ — Agricultural real estate 17 — 450 — 1-4 Family residential properties 3,121 117 1,264 8 Multifamily residential properties 4,133 94 307 — Commercial real estate 5,316 62 1,133 1 Loans secured by real estate 12,934 273 3,786 9 Agricultural loans 930 — 16 — Commercial and industrial loans 1,841 4 1,143 — Consumer loans 628 — 264 — Total loans $ 16,333 $ 277 $ 5,219 $ 9 |
Nonaccrual Loans | The following table presents the Company’s recorded balance of nonaccrual loans as June 30, 2017 and December 31, 2016 (in thousands). This table excludes purchased impaired loans and performing troubled debt restructurings. June 30, December 31, Construction and land development $ 593 $ 227 Agricultural real estate 16 205 1-4 Family residential properties 2,302 2,890 Multifamily residential properties 605 528 Commercial real estate 4,426 4,971 Loans secured by real estate 7,942 8,821 Agricultural loans 826 1,388 Commercial and industrial loans 1,622 1,430 Consumer loans 624 414 Total loans $ 11,014 $ 12,053 |
Schedule of Acquired Receivables With Credit Deterioration [Table Text Block] | The amount of these loans at June 30, 2017 and December 31, 2016 are as follows (in thousands): June 30, December 31, 1-4 Family residential properties $ — $ 827 Multifamily residential properties 3,396 3,419 Commercial real estate 2,698 3,816 Loans secured by real estate 6,094 8,062 Commercial and industrial loans 16 24 Carrying amount 6,110 8,086 Allowance for loan losses — 14 Carrying amount, net of allowance $ 6,110 $ 8,072 |
Recorded Balance of Troubled Debt Restructurings | The following table presents the Company’s recorded balance of troubled debt restructurings at June 30, 2017 and December 31, 2016 (in thousands). Troubled debt restructurings: June 30, December 31, Construction and land development $ — $ 227 1-4 Family residential properties 909 1,753 Multifamily residential properties 3,395 3,419 Commercial real estate 3,032 4,125 Loans secured by real estate 7,336 9,524 Agricultural loans 819 — Commercial and industrial loans 920 1,040 Consumer loans 248 325 Total $ 9,323 $ 10,889 Performing troubled debt restructurings: 1-4 Family residential properties 594 $ 603 Multifamily residential properties 3,395 3,419 Commercial real estate 2,087 2,116 Loans secured by real estate 6,076 6,138 Commercial and industrial loans 33 41 Consumer loans 2 6 Total $ 6,111 $ 6,185 |
Financing Receivables,Troubled Debt Restructurings during period [Table Text Block] | The following table presents loans modified as TDRs during the six months ended June 30, 2017 and 2016 , as a result of various modified loan factors (in thousands): June 30, 2017 June 30, 2016 Number of Modifications Recorded Investment Type of Modifications Number of Modifications Recorded Investment Type of Modifications Construction and land development — $ — 1 $ 234 (b)(c) 1-4 Family residential properties — — 1 48 (c) Loans secured by real estate — — 2 282 Agricultural loans 1 819 (b)(c) — — Commercial and industrial loans — — 3 75 (b)(c) Total 1 $ 819 5 $ 357 |
Goodwill and Intangible Asset20
Goodwill and Intangible Assets (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Finite-Lived Intangible Assets [Line Items] | |
Schedule of Intangible Assets and Goodwill [Table Text Block] | The following table presents gross carrying value and accumulated amortization by major intangible asset class as of June 30, 2017 and December 31, 2016 (in thousands): June 30, 2017 December 31, 2016 Gross Carrying Value Accumulated Amortization Gross Carrying Value Accumulated Amortization Goodwill not subject to amortization (effective 1/1/02) $ 61,551 $ 3,760 $ 61,551 $ 3,760 Intangibles from branch acquisition 3,015 3,015 3,015 3,015 Core deposit intangibles 19,862 10,587 19,862 9,644 Other intangibles 3,731 2,193 3,731 2,102 $ 88,159 $ 19,555 $ 88,159 $ 18,521 |
Intangible Assets, Mortgage Servicing Rights [Table Text Block] | As part of the acquisition of First Clover Leaf Bank, the Company acquired mortgage servicing rights valued at $1,069,000 . The following table summarizes the activity pertaining to mortgage servicing rights included in intangible assets as of June 30, 2017 and December 31, 2016 (in thousands): June 30, 2017 December 31, 2016 Beginning Balance $ 985 $ — Mortgage servicing rights acquired during period — 1,069 Mortgage servicing rights capitalized — 14 Mortgage servicing rights amortized (72 ) (98 ) Ending Balance $ 913 $ 985 |
Schedule of Intangible Assets Amortization Expense [Table Text Block] | Total amortization expense for the six months ended June 30, 2017 and 2016 was as follows (in thousands): Three months ended June 30, Six months ended June 30, 2017 2016 2017 2016 Core deposit intangibles 472 357 $ 943 $ 766 Other intangibles 45 45 91 91 Mortgage servicing rights 42 — 72 — $ 559 $ 402 $ 1,106 $ 857 |
Schedule of Expected Amortization Expense [Table Text Block] | Aggregate amortization expense for the current year and estimated amortization expense for each of the five succeeding years is shown in the table below (in thousands): Aggregate amortization expense: For period 01/01/17-06/30/17 $ 1,106 Estimated amortization expense: For period 07/01/17-12/31/17 1,049 For year ended 12/31/18 1,954 For year ended 12/31/19 1,778 For year ended 12/31/20 1,576 For year ended 12/31/21 1,304 For year ended 12/31/22 1,195 |
First Clover Leaf [Member] | |
Finite-Lived Intangible Assets [Line Items] | |
Reconciliation of purchase price to goodwill recorded [Table Text Block] | The following table provides a reconciliation of the purchase price paid for First Clover Leaf and the amount of goodwill recorded (in thousands): Purchase price (in excess of net book value) $ 8,741 Less purchase accounting adjustments: Fair value of securities 737 Fair value of loans, net 3,475 Fair value of OREO 754 Fair value of premises and equipment (1,963 ) Fair value of time deposits 1,994 Fair value of FHLB advances 113 Fair value of subordinated debentures (731 ) Core deposit intangible (4,660 ) Other assets 8,325 8,044 Resulting goodwill from acquisition $ 16,785 |
Repurchase Agreements and Oth21
Repurchase Agreements and Other Borrowings Repurchase Agreements and Other Borrowings (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Debt Disclosure [Abstract] | |
Schedule of Securities Financing Transactions [Table Text Block] | Collateral pledged by class for repurchase agreements are as follows (in thousands): June 30, 2017 December 31, 2016 US Treasury securities and obligations of U.S. government corporations & agencies $ 106,395 $ 100,526 Obligations of states and political subdivisions — 1,173 Mortgage-backed securities: GSE: residential 36,016 84,064 Total $ 142,411 $ 185,763 |
Fair Value of Assets and Liab22
Fair Value of Assets and Liabilities (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Fair Value Disclosures [Abstract] | |
Assets Measured at Fair Value on Recurring Basis | The following table presents the Company’s assets that are measured at fair value on a recurring basis and the level within the fair value hierarchy in which the fair value measurements fall as of June 30, 2017 and December 31, 2016 (in thousands): Fair Value Measurements Using Fair Value Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) June 30, 2017 Available-for-sale securities: U.S. Treasury securities and obligations of U.S. government corporations and agencies 142,573 — 142,573 — Obligations of states and political subdivisions 176,012 — 176,012 — Mortgage-backed securities 356,944 — 356,944 — Trust preferred securities 2,424 — — 2,424 Other securities 4,187 151 4,036 — Total available-for-sale securities $ 682,140 $ 151 $ 679,565 $ 2,424 December 31, 2016 Available-for-sale securities: U.S. Treasury securities and obligations of U.S. government corporations and agencies 136,324 — 136,324 — Obligations of states and political subdivisions 162,705 — 162,705 — Mortgage-backed securities 314,991 — 314,991 — Trust preferred securities 1,652 — — 1,652 Other securities 4,176 144 4,032 — Total available-for-sale securities $ 619,848 $ 144 $ 618,052 $ 1,652 |
Fair Value of Assets Measured on a Recurring Basis Using Significant Unobservable Inputs | The change in fair value of assets measured on a recurring basis using significant unobservable inputs (Level 3) for the three and six months ended June 30, 2017 and 2016 is summarized as follows (in thousands): Trust Preferred Securities Three months ended Six months ended June 30, 2017 June 30, 2016 June 30, 2017 June 30, 2016 Beginning balance $ 1,638 $ 1,698 $ 1,652 $ 1,906 Transfers into Level 3 — — — — Transfers out of Level 3 — — — — Total gains or losses: Included in net income — — — — Included in other comprehensive income (loss) 825 67 848 (124 ) Purchases, issuances, sales and settlements: Purchases — — — — Issuances — — — — Sales — — — — Settlements (39 ) (19 ) (76 ) (36 ) Ending balance $ 2,424 $ 1,746 $ 2,424 $ 1,746 Total gains or losses for the period included in net income attributable to the change in unrealized gains or losses related to assets and liabilities still held at the reporting date $ — $ — $ — $ — |
Assets Measured at Fair Value on a Nonrecurring Basis | The following table presents the fair value measurement of assets measured at fair value on a nonrecurring basis and the level within the fair value hierarchy in which the fair value measurements fall at June 30, 2017 and December 31, 2016 (in thousands): Fair Value Measurements Using Fair Value Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) June 30, 2017 Impaired loans (collateral dependent) $ 9,321 $ — $ — $ 9,321 Foreclosed assets held for sale 111 — — 111 December 31, 2016 Impaired loans (collateral dependent) $ 6,938 $ — $ — $ 6,938 Foreclosed assets held for sale 173 — — 173 |
Significant Assumptions Used in Valuation of Level 3 Financial Instruments | The following table presents quantitative information about unobservable inputs used in recurring and nonrecurring Level 3 fair value measurements other than goodwill at June 30, 2017 and December 31, 2016 (in thousands). June 30, 2017 Fair Value Valuation Technique Unobservable Inputs Range (Weighted Average) Trust Preferred Securities $ 2,424 Discounted cash flow Discount rate 13.3% Constant prepayment rate (1) 1.3% Cumulative projected prepayments 21.8% Probability of default 0.5% Projected cures given deferral 0.0% Loss severity 97.6% Impaired loans (collateral dependent) $ 9,321 Third party valuations Discount to reflect realizable value 0 % - 40% ( 20% ) Foreclosed assets held for sale $ 111 Third party valuations Discount to reflect realizable value less estimated selling costs 0 % - 40% ( 35% ) December 31, 2016 Fair Value Valuation Technique Unobservable Inputs Range (Weighted Average) Trust Preferred Securities $ 1,652 Discounted cash flow Discount rate 13.6% Constant prepayment rate (1) 1.3% Cumulative projected prepayments 22.4% Probability of default 0.5% Projected cures given deferral 0.0% Loss severity 97.6% Impaired loans (collateral dependent) $ 6,938 Third party valuations Discount to reflect realizable value 0 % - 40% ( 20% ) Foreclosed assets held for sale $ 173 Third party valuations Discount to reflect realizable value less estimated selling costs 0 % - 40% ( 35% ) (1) Every five years |
Carrying Amounts and Estimated Fair Values of Financial Instruments Not Carried at Fair Value | The following tables present estimated fair values of the Company’s financial instruments at June 30, 2017 and December 31, 2016 in accordance with FAS 107-1 and APB 28-1, codified with ASC 805 (in thousands): Carrying Amount Fair Value Level 1 Level 2 Level 3 June 30, 2017 Financial Assets Cash and due from banks $ 73,398 $ 73,398 $ 73,398 $ — $ — Federal funds sold 491 491 491 — — Certificates of deposit investments 1,685 1,712 — 1,712 — Available-for-sale securities 682,140 682,140 151 679,565 2,424 Held-to-maturity securities 74,281 74,224 — 74,224 — Loans held for sale 1,932 1,932 — 1,932 — Loans net of allowance for loan losses 1,805,493 1,724,890 — — 1,724,890 Interest receivable 9,620 9,620 — 9,620 — Federal Reserve Bank stock 4,128 4,128 — 4,128 — Federal Home Loan Bank stock 2,407 2,407 — 2,407 — Financial Liabilities Deposits $ 2,289,406 $ 2,293,494 $ — $ 1,960,434 $ 333,060 Securities sold under agreements to repurchase 142,411 142,406 — 142,406 — Interest payable 502 502 — 502 — Federal Home Loan Bank borrowings 45,066 45,408 — 45,408 — Other borrowings 12,188 12,188 — 12,188 — Junior subordinated debentures 23,959 17,396 — 17,396 — Carrying Amount Fair Value Level 1 Level 2 Level 3 December 31, 2016 Financial Assets Cash and due from banks $ 137,002 $ 137,002 $ 137,002 $ — $ — Federal funds sold 38,900 38,900 38,900 — — Certificates of deposit investments 14,643 14,651 — 14,651 — Available-for-sale securities 619,848 619,848 144 618,052 1,652 Held-to-maturity securities 74,231 73,096 — 73,096 — Loans held for sale 1,175 1,175 — 1,175 — Loans net of allowance for loan losses 1,808,064 1,795,764 — — 1,795,764 Interest receivable 10,553 10,553 — 10,553 — Federal Reserve Bank stock 3,949 3,949 — 3,949 — Federal Home Loan Bank stock 4,389 4,389 — 4,389 — Financial Liabilities Deposits $ 2,329,887 $ 2,331,725 $ — $ 1,976,806 $ 354,919 Securities sold under agreements to repurchase 185,763 185,766 — 185,766 — Interest payable 535 535 — 535 — Federal Home Loan Bank borrowings 40,094 40,318 — 40,318 — Other borrowings 18,063 18,063 — 18,063 — Junior subordinated debentures 23,917 17,068 — 17,068 — |
Business Combinations (Tables)
Business Combinations (Tables) - First Clover Leaf [Member] | 6 Months Ended |
Jun. 30, 2017 | |
Business Acquisition [Line Items] | |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block] | The following table summarizes the estimated fair values of assets acquired and liabilities assumed at the date of the First Clover Leaf acquisition (in thousands). Acquired Fair Value Adjustments As Recorded by Assets Cash $ 59,320 $ — $ 59,320 Investment Securities 109,911 (737 ) 109,174 Loans 448,668 (10,403 ) 438,265 Allowance for loan losses (6,928 ) 6,928 — Other real estate owned 2,741 (754 ) 1,987 Premises and equipment 9,618 1,963 11,581 Goodwill 11,385 5,400 16,785 Core deposit intangible 99 4,561 4,660 Other assets 23,974 3,159 27,133 Total assets acquired $ 658,788 $ 10,117 $ 668,905 Liabilities and Stockholders' Equity Deposits $ 534,692 $ 1,994 $ 536,686 Securities sold under agreements to repurchase 23,263 — 23,263 FHLB advances 15,000 113 15,113 Subordinated debentures 4,000 (731 ) 3,269 Other liabilities 2,103 — 2,103 Total liabilities assumed 579,058 1,376 580,434 Net assets acquired $ 79,730 $ 8,741 $ 88,471 Consideration Paid Cash $ 22,545 Common stock 65,926 Total consideration paid $ 88,471 |
Business Acquisition, Pro Forma Information [Table Text Block] | The following unaudited pro forma condensed combined financial information presents the results of operations of the Company, including the effects of the purchase accounting adjustments and acquisition expenses, had the First Clover Leaf acquisition taken place at the beginning of the period (dollars in thousands): Three months ended Six months ended June 30, June 30, 2016 2016 Net interest income $ 21,214 $ 42,915 Provision for loan losses 803 961 Non-interest income 7,165 14,422 Non-interest expense 18,710 38,012 Income before income taxes 8,866 18,364 Income tax expense 2,893 6,103 Net income 5,973 12,261 Dividends on preferred shares — — Net income available to common stockholders $ 5,973 $ 12,261 Earnings per share Basic $ 0.51 $ 1.08 Diluted $ 0.48 $ 0.99 Basic weighted average shares outstanding 11,753,325 11,404,723 Diluted weighted average shares outstanding 12,445,488 12,432,707 |
Basis of Accounting and Conso24
Basis of Accounting and Consolidation Basis of Accounting and Consolidation 1 (Stock Plans) - shares | 6 Months Ended | 12 Months Ended |
Jun. 30, 2017 | Dec. 31, 2016 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Maximum number of shares to be issued in stock incentive plan (in shares) | 149,983 | |
Stock Unit Awards and Stock Awards [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Common stock awarded in SI plan (in shares) | 11,473 | 13,912 |
Basis of Accounting and Conso25
Basis of Accounting and Consolidation Basis of Accounting and Consolidation 2 (Preferred Stock) - $ / shares | May 16, 2016 | Feb. 11, 2011 |
Series C Convertible Preferred Stock [Abstract] | ||
Preferred stock, conversion price per share | $ 20.29 | |
Convertible Preferred Stock, Shares Issued upon Conversion | 246.427 | |
Common Shares Issued, Conversion Of Preferred Stock | 1,355,319 | |
Series C Convertible Preferred Stock [Member] | ||
Series C Convertible Preferred Stock [Abstract] | ||
Sale of Stock, Price Per Share | $ 5,000 |
Basis of Accounting and Conso26
Basis of Accounting and Consolidation 3 (AOCI) - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended |
Jun. 30, 2017 | Dec. 31, 2016 | |
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | ||
Total accumulated other comprehensive income, net of tax | $ 2,649 | $ (5,761) |
Accumulated Other Comprehensive Income (Loss) [Member] | ||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | ||
Net unrealized gains on securities available-for-sale | 5,229 | (7,649) |
Held-to-maturity Securities, Accumulated Unrecognized Holding Loss | 338 | 394 |
Other than Temporary Impairment Loss, Investments, Portion in Other Comprehensive Loss, before Tax, Portion Attributable to Parent, Available-for-sale Securities | (550) | (1,398) |
Unrealized gain (loss) on available-for-sale securities, tax benefit | (1,906) | 3,135 |
Total unrealized gain (loss) on available for sale securities, net of tax | 2,985 | (4,908) |
Securities with other-than-temporary impairment losses, tax benefit | 214 | 545 |
Total securities with other-than-temporary impairment losses, net of tax | (336) | (853) |
Accumulated other comprehensive income, tax | (1,692) | 3,680 |
Total accumulated other comprehensive income, net of tax | $ 2,649 | $ (5,761) |
Basis of Accounting and Conso27
Basis of Accounting and Consolidation Basis of Accounting and Consolidation 4 (AOCI-Income Statement) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
Gain (Loss) on Sale of Securities, Net | $ 335 | $ 404 | $ 335 | $ 664 |
Other Comprehensive Income (Loss), Reclassification Adjustment for Sale of Securities Included in Net Income, Tax | (131) | (157) | (131) | (259) |
Other Comprehensive Income (Loss), Reclassification Adjustment for Sale of Securities Included in Net Income, Net of Tax | $ 204 | $ 247 | $ 204 | $ 405 |
Basis of Accounting and Conso28
Basis of Accounting and Consolidation Basis of Accounting and Consolidation 5 (Acquisitions) | Sep. 08, 2016USD ($)$ / sharesshares | Jun. 30, 2017$ / shares | Dec. 31, 2016$ / shares |
Agreement And Plan Of Merger FCLB [Abstract] | |||
Common stock, par value (in dollars per share) | $ / shares | $ 4 | $ 4 | |
First Clover Leaf [Member] | |||
Branch Purchase and Assumption Agreement ONB [Abstract] | |||
Fair value of loans | $ 438,265,000 | ||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deposits | $ 536,686,000 | ||
Agreement And Plan Of Merger FCLB [Abstract] | |||
Percent Of Acquiree Outstanding Stock Being Acquired In Merger | 1 | ||
Percentage of business acquisition consideration paid in cash | 25.00% | ||
Right To Receive Value of Cash Option | $ / shares | $ 12.87 | ||
Aggregate Total Of Cash Paid In Business Combination | $ 22,545,000 | ||
Portion of Business Acquisition Consideration Paid In Common Stock | 75.00% | ||
Right To Receive Value Of Share Option | shares | 0.495 | ||
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares | shares | 2,600,616 |
Earnings Per Share (Details)
Earnings Per Share (Details) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
Basic Net Income per Common Share Available to Common Stockholders [Abstract] | ||||
Net income | $ 8,200,000 | $ 4,929,000 | $ 14,464,000 | $ 9,735,000 |
Preferred stock dividends | 0 | (275,000) | 0 | (825,000) |
Net income available to common stockholders | $ 8,200,000 | $ 4,654,000 | $ 14,464,000 | $ 8,910,000 |
Weighted average common shares outstanding | 12,491,757 | 9,152,709 | 12,483,788 | 8,804,107 |
Basic earnings per common share | $ 0.66 | $ 0.51 | $ 1.16 | $ 1.01 |
Diluted Net Income per Common Share Available to Common Stockholders [Abstract] | ||||
Net income available to common stockholders | $ 8,200,000 | $ 4,654,000 | $ 14,464,000 | $ 8,910,000 |
Effect of assumed preferred stock conversion | 0 | 275,000 | 0 | 825,000 |
Net income applicable to diluted earnings per share | $ 8,200,000 | $ 4,929,000 | $ 14,464,000 | $ 9,735,000 |
Weighted average common shares outstanding | 12,491,757 | 9,152,709 | 12,483,788 | 8,804,107 |
Dilutive potential common shares [Abstract] | ||||
Incremental Common Shares Attributable to Dilutive Effect of Share-based Payment Arrangements | 0 | 1,864 | 0 | 2,045 |
Restricted stock awarded | 836 | 5,232 | 836 | 5,232 |
Assumed conversion of preferred stock | 7,338 | 685,067 | 7,338 | 1,020,207 |
Dilutive potential common shares | 8,174 | 692,163 | 8,174 | 1,027,484 |
Diluted weighted average common shares outstanding | 12,499,931 | 9,844,872 | 12,491,962 | 9,831,591 |
Diluted net income per common share available to common stockholders | $ 0.66 | $ 0.50 | $ 1.16 | $ 0.99 |
Stock options to purchase shares of common stock | ||||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||||
Antidilutive Securities Excluded from Computation of Earnings Per Share (in shares) | 0 | 24,500 | 0 | 24,500 |
Investment Securities (Details)
Investment Securities (Details) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2017USD ($) | Jun. 30, 2016USD ($) | Jun. 30, 2017USD ($)securities | Jun. 30, 2016USD ($) | Dec. 31, 2016USD ($) | |
Available-for-sale: [Abstract] | |||||
Amortized Cost | $ 677,461 | $ 677,461 | $ 628,895 | ||
Gross Unrealized Gains | 7,747 | 7,747 | 2,037 | ||
Gross Unrealized (Losses) | (3,068) | (3,068) | (11,084) | ||
Fair Value | 682,140 | 682,140 | 619,848 | ||
Gain (Loss) on Sale of Securities, Net | 335 | $ 404 | 335 | $ 664 | |
Held-to-maturity: [Abstract] | |||||
Held-to-maturity Securities | 74,281 | 74,281 | 74,231 | ||
Held-to-maturity Securities, Fair Value | 74,224 | 74,224 | 73,096 | ||
Realized Investment Gains (Losses) [Abstract] | |||||
Gross gains | 352 | 404 | 352 | 664 | |
Gross losses | (17) | $ 0 | (17) | $ 0 | |
U.S. Treasury securities and obligations of U.S. government corporations & agencies | |||||
Available-for-sale: [Abstract] | |||||
Amortized Cost | 143,014 | 143,014 | 138,819 | ||
Gross Unrealized Gains | 627 | 627 | 13 | ||
Gross Unrealized (Losses) | (1,068) | (1,068) | (2,508) | ||
Fair Value | 142,573 | 142,573 | 136,324 | ||
Held-to-maturity: [Abstract] | |||||
Held-to-maturity Securities | 74,281 | 74,281 | 74,231 | ||
Held-to-maturity Securities, Accumulated Unrecognized Holding Gain | 405 | 405 | 203 | ||
Held-to-maturity Securities, Accumulated Unrecognized Holding Loss | (462) | (462) | (1,338) | ||
Held-to-maturity Securities, Fair Value | 74,224 | 74,224 | 73,096 | ||
Obligations of states and political subdivisions | |||||
Available-for-sale: [Abstract] | |||||
Amortized Cost | 172,446 | 172,446 | 164,163 | ||
Gross Unrealized Gains | 4,000 | 4,000 | 1,346 | ||
Gross Unrealized (Losses) | (434) | (434) | (2,804) | ||
Fair Value | 176,012 | 176,012 | 162,705 | ||
Mortgage-backed securities: GSE residential | |||||
Available-for-sale: [Abstract] | |||||
Amortized Cost | 354,993 | 354,993 | 318,829 | ||
Gross Unrealized Gains | 2,967 | 2,967 | 531 | ||
Gross Unrealized (Losses) | (1,016) | (1,016) | (4,369) | ||
Fair Value | 356,944 | 356,944 | 314,991 | ||
Trust preferred securities | |||||
Available-for-sale: [Abstract] | |||||
Amortized Cost | 2,974 | 2,974 | 3,050 | ||
Gross Unrealized Gains | 0 | 0 | 0 | ||
Gross Unrealized (Losses) | (550) | (550) | (1,398) | ||
Fair Value | 2,424 | $ 2,424 | 1,652 | ||
Number of trust preferred securities | securities | 1 | ||||
Trust preferred securities | Maximum [Member] | |||||
Available-for-sale: [Abstract] | |||||
Maturities of Debt Securities | twenty years | ||||
Other securities | |||||
Available-for-sale: [Abstract] | |||||
Amortized Cost | 4,034 | $ 4,034 | 4,034 | ||
Gross Unrealized Gains | 153 | 153 | 147 | ||
Gross Unrealized (Losses) | 0 | 0 | (5) | ||
Fair Value | $ 4,187 | $ 4,187 | $ 4,176 |
Investment Securities, Part II
Investment Securities, Part II (Details) | 6 Months Ended | ||
Jun. 30, 2017USD ($)securities | Jun. 30, 2016USD ($) | Dec. 31, 2016USD ($)securities | |
Available-for-sale Securities, Debt Maturities, Fair Value, Fiscal Year Maturity [Abstract] | |||
One year or less | $ 99,695,000 | ||
After 1 through 5 years | 402,914,000 | ||
After 5 through 10 years | 174,999,000 | ||
After ten years | 4,532,000 | ||
Fair Value | $ 682,140,000 | $ 619,848,000 | |
Available-for-sale, Weighted Average Yield, Maturities Year One (in hundredths) | 2.14% | ||
Available-for-sale , Weighted Average Yield, Maturities After 1 through 5 Years (in hundredths) | 2.49% | ||
Available-for-sale, Weighted Average Yield, Maturities After 5 through 10 Years (in hundredths) | 2.62% | ||
Available-for-sale , Weighted Average Yield, Maturities After 10 Years (in hundredths) | 2.65% | ||
Available-for-sale , Weighted Average Yield, Maturities (in hundredths) | 2.47% | ||
Available-for-sale, Full Tax-equivalent Yield, Maturities Year One (in hundredths) | 2.54% | ||
Available-for-sale, Full Tax-equivalent Yield, Maturities After 1 through 5 Years (in hundredths) | 2.89% | ||
Available-for-sale, Full Tax-equivalent Yield, Maturities After 5 through 10 years (in hundredths) | 3.43% | ||
Available-for-sale, Full Tax-equivalent Yield, Maturities After Ten Years (in hundredths) | 3.60% | ||
Available-for-sale, Full Tax-equivalent Yield, Maturities (in hundredths) | 2.98% | ||
Held-to-maturity Securities, Debt Maturities, Net Carrying Amount [Abstract] | |||
Held-to-maturity Securities | $ 74,281,000 | 74,231,000 | |
Held To Maturity Weighted Average Yield Maturities Year One | 1.79% | ||
Held To Maturity Weighted Average Yield Maturities After 1 Through 5 Years | 2.08% | ||
Held To Maturity Weighted Average Yield Maturities After 5 Through 10 Years | 0.00% | ||
Held To Maturity Weighted Average Yield Maturities After 10 Years | 0.00% | ||
Held To Maturity Weighted Average Yield Maturities | 1.90% | ||
Held To Maturity Tax Equivalent Yield Maturities Year One | 1.79% | ||
Held To Maturity Tax Equivalent Yield Maturities After 1 Through 5 Years | 2.08% | ||
Held To Maturity Tax Equivalent Yield Maturities After 5 Through 10 Years | 0.00% | ||
Held To Maturity Tax Equivalent Yield Maturities After 10 Years | 0.00% | ||
Held To Maturity Tax Equivalent Yield Maturities | 1.90% | ||
Tax rate used to calculate tax-equivalent yields (in hundredths) | 35.00% | ||
Percentage investment book value exceeds total stockholders' equity (in hundredths) | 10.00% | ||
Investment Securities Pledged as Collateral | $ 495,000,000 | 509,000,000 | |
Available-for-sale Securities, Continuous Unrealized Loss Position [Abstract] | |||
Less than 12 months, Fair Value | 209,478,000 | 484,981,000 | |
Less than 12 months, Unrealized Losses | (2,299,000) | (9,411,000) | |
12 months or longer, Fair Value | 9,547,000 | 9,525,000 | |
12 months or longer, Unrealized losses | (769,000) | (1,673,000) | |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 219,025,000 | 494,506,000 | |
Total Unrealized Losses | 3,068,000 | 11,084,000 | |
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax | $ 3,068,000 | 11,084,000 | |
Details of Trust Preferred Securities [Abstract] | |||
Coupon Rate of Trust Preferred Security | floating rate coupon of 3-month LIBOR plus 90 basis points | ||
Number of Ratios Utilized in OTTI Credit Model | 29 | ||
OTTI Cash Flow Initial Default Rate | 2.00% | ||
Period For Initial Default Rate Used In OTTI Analysis | two years | ||
Default Rate Applied For Remainder Of OTTI Analysis | 36 basis points | ||
Recovery Rate Used In OTTI Cash Flow Analysis | 10.00% | ||
Credit losses on trust preferred securities held [Abstract] | |||
Beginning of period | $ 1,111,000 | $ 1,111,000 | |
Additions related to OTTI losses not previously recognized | 0 | 0 | |
Reductions due to sales / (recoveries) | 0 | 0 | |
Reductions due to change in intent or likelihood of sale | 0 | 0 | |
Additions related to increases in previously recognized OTTI losses | 0 | 0 | |
Reductions due to increases in expected cash flows | 0 | 0 | |
End of period | 1,111,000 | $ 1,111,000 | |
PreTSL XXVIII [Member] | |||
Details of Trust Preferred Securities [Abstract] | |||
Book Value | 2,974,000 | ||
Fair Value | 2,424,000 | ||
Unrealized Gains (Losses) | (550,000) | ||
Other-than- temporary Impairment Recorded To-date | (1,111,000) | ||
U.S. Treasury securities and obligations of U.S. government corporations & agencies | |||
Available-for-sale Securities, Debt Maturities, Fair Value, Fiscal Year Maturity [Abstract] | |||
One year or less | 80,317,000 | ||
After 1 through 5 years | 49,608,000 | ||
After 5 through 10 years | 12,648,000 | ||
After ten years | 0 | ||
Fair Value | 142,573,000 | 136,324,000 | |
Held-to-maturity Securities, Debt Maturities, Net Carrying Amount [Abstract] | |||
Held-to-maturity Securities, Debt Maturities, within One Year, Net Carrying Amount | 44,993,000 | ||
Held-to-maturity Securities, Debt Maturities, after One Through Five Years, Net Carrying Amount | 29,288,000 | ||
Held-to-maturity Securities, Debt Maturities, after Five Through Ten Years, Net Carrying Amount | 0 | ||
Held-to-maturity Securities, Debt Maturities, after Ten Years, Net Carrying Amount | 0 | ||
Held-to-maturity Securities | 74,281,000 | 74,231,000 | |
Available-for-sale Securities, Continuous Unrealized Loss Position [Abstract] | |||
Less than 12 months, Fair Value | 81,271,000 | 125,257,000 | |
Less than 12 months, Unrealized Losses | (1,068,000) | (2,508,000) | |
12 months or longer, Fair Value | 0 | 0 | |
12 months or longer, Unrealized losses | 0 | 0 | |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 81,271,000 | 125,257,000 | |
Total Unrealized Losses | 1,068,000 | 2,508,000 | |
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax | 1,068,000 | 2,508,000 | |
Held-to-maturity Securities, Continuous Unrealized Loss Position [Abstract] | |||
Held-to-maturity Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 44,558,000 | 53,295,000 | |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Loss | (462,000) | (1,338,000) | |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 0 | 0 | |
Held-to-maturity Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 0 | 0 | |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Fair Value | 44,558,000 | 53,295,000 | |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Accumulated Loss | (462,000) | (1,338,000) | |
Obligations of states and political subdivisions | |||
Available-for-sale Securities, Debt Maturities, Fair Value, Fiscal Year Maturity [Abstract] | |||
One year or less | 18,742,000 | ||
After 1 through 5 years | 85,828,000 | ||
After 5 through 10 years | 69,484,000 | ||
After ten years | 1,958,000 | ||
Fair Value | 176,012,000 | 162,705,000 | |
Available-for-sale Securities, Continuous Unrealized Loss Position [Abstract] | |||
Less than 12 months, Fair Value | 32,928,000 | 93,405,000 | |
Less than 12 months, Unrealized Losses | (434,000) | (2,804,000) | |
12 months or longer, Fair Value | 0 | 0 | |
12 months or longer, Unrealized losses | 0 | 0 | |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 32,928,000 | 93,405,000 | |
Total Unrealized Losses | 434,000 | 2,804,000 | |
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax | 434,000 | 2,804,000 | |
Mortgage-backed securities: GSE residential | |||
Available-for-sale Securities, Debt Maturities, Fair Value, Fiscal Year Maturity [Abstract] | |||
One year or less | 636,000 | ||
After 1 through 5 years | 265,471,000 | ||
After 5 through 10 years | 90,837,000 | ||
After ten years | 0 | ||
Fair Value | 356,944,000 | 314,991,000 | |
Available-for-sale Securities, Continuous Unrealized Loss Position [Abstract] | |||
Less than 12 months, Fair Value | 95,279,000 | 266,319,000 | |
Less than 12 months, Unrealized Losses | (797,000) | (4,099,000) | |
12 months or longer, Fair Value | 7,123,000 | 5,878,000 | |
12 months or longer, Unrealized losses | (219,000) | (270,000) | |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 102,402,000 | 272,197,000 | |
Total Unrealized Losses | $ 1,016,000 | $ 4,369,000 | |
Number of securities in Unrealized Loss Positions | securities | 4 | 2 | |
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax | $ 1,016,000 | $ 4,369,000 | |
Trust preferred securities | |||
Available-for-sale Securities, Debt Maturities, Fair Value, Fiscal Year Maturity [Abstract] | |||
One year or less | 0 | ||
After 1 through 5 years | 0 | ||
After 5 through 10 years | 0 | ||
After ten years | 2,424,000 | ||
Fair Value | 2,424,000 | 1,652,000 | |
Available-for-sale Securities, Continuous Unrealized Loss Position [Abstract] | |||
Less than 12 months, Fair Value | 0 | 0 | |
Less than 12 months, Unrealized Losses | 0 | 0 | |
12 months or longer, Fair Value | 2,424,000 | 1,652,000 | |
12 months or longer, Unrealized losses | (550,000) | (1,398,000) | |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 2,424,000 | 1,652,000 | |
Total Unrealized Losses | $ 550,000 | $ 1,398,000 | |
Number of securities in Unrealized Loss Positions | securities | 1 | 1 | |
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax | $ 550,000 | $ 1,398,000 | |
Other securities | |||
Available-for-sale Securities, Debt Maturities, Fair Value, Fiscal Year Maturity [Abstract] | |||
One year or less | 0 | ||
After 1 through 5 years | 2,007,000 | ||
After 5 through 10 years | 2,030,000 | ||
After ten years | 150,000 | ||
Fair Value | 4,187,000 | 4,176,000 | |
Available-for-sale Securities, Continuous Unrealized Loss Position [Abstract] | |||
Less than 12 months, Fair Value | 0 | 0 | |
Less than 12 months, Unrealized Losses | 0 | 0 | |
12 months or longer, Fair Value | 0 | 1,995,000 | |
12 months or longer, Unrealized losses | 0 | (5,000) | |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 0 | 1,995,000 | |
Total Unrealized Losses | 0 | $ 5,000 | |
Number of securities in Unrealized Loss Positions | securities | 1 | ||
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax | $ 0 | $ 5,000 |
Loans and Allowance for Loan 32
Loans and Allowance for Loan Losses (Details) | 3 Months Ended | 6 Months Ended | 12 Months Ended | |||||
Jun. 30, 2017USD ($) | Jun. 30, 2016USD ($) | Jun. 30, 2017USD ($)alternative | Jun. 30, 2016USD ($) | Dec. 31, 2016USD ($) | Jun. 30, 2017USD ($) | Dec. 31, 2016USD ($) | Jun. 30, 2016USD ($) | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||
Financing Receivable, Allowance for Credit Losses, Period Increase (Decrease) | $ 1,840,000 | $ 733,000 | $ 3,562,000 | $ 846,000 | $ 2,826,000 | |||
Gross loans | $ 1,833,349,000 | $ 1,836,251,000 | ||||||
Loans Receivable Held-for-sale, Amount | 1,932,000 | 1,175,000 | ||||||
loans and leases receivable gross excluding loans held for sale | 1,831,417,000 | 1,835,076,000 | ||||||
Less [Abstract] | ||||||||
Net deferred loan fees, premiums and discounts | 7,715,000 | 10,259,000 | ||||||
Allowance for loan losses | 17,846,000 | 14,736,000 | 16,753,000 | 14,576,000 | 14,576,000 | 18,209,000 | 16,753,000 | $ 15,164,000 |
Net loans | 1,805,493,000 | 1,808,064,000 | ||||||
Increase (Decrease) in loans receivable | (2,600,000) | |||||||
Impaired Loans [Abstract] | ||||||||
Minimum value of loans individually measured for impairment | $ 250,000 | |||||||
Number of alternatives for measuring impaired loans receivable | alternative | 3 | |||||||
Allowance for Loan Losses [Abstract] | ||||||||
Balance, beginning of period | 17,846,000 | 14,736,000 | $ 16,753,000 | 14,576,000 | 14,576,000 | |||
Provision for Loan and Lease Losses | 1,840,000 | 733,000 | 3,562,000 | 846,000 | ||||
Losses charged off | (1,718,000) | (739,000) | (2,481,000) | (976,000) | (1,675,000) | |||
Recoveries | 241,000 | 434,000 | 375,000 | 718,000 | 1,026,000 | |||
Balance, end of period | 18,209,000 | 15,164,000 | $ 18,209,000 | 15,164,000 | 16,753,000 | |||
Ending Balance [Abstract] | ||||||||
Individually evaluated for impairment | 242,000 | 858,000 | 297,000 | |||||
Collectively evaluated for impairment | 17,967,000 | 15,881,000 | 14,867,000 | |||||
Financing Receivable, Allowance for Credit Losses | 0 | |||||||
Ending Balance [Abstract] | ||||||||
Individually evaluated for impairment | 7,656,000 | 5,266,000 | 2,006,000 | |||||
Collectively evaluated for impairment | 1,811,868,000 | 1,812,640,000 | 1,313,181,000 | |||||
Loans and Leases Receivable, Including Held for Sale, Net of Deferred Income | 1,825,634,000 | 1,825,992,000 | 1,315,187,000 | |||||
Construction and land development | ||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||
Gross loans | 68,847,000 | 49,366,000 | ||||||
Ending Balance [Abstract] | ||||||||
Loans and Leases Receivable, Including Held for Sale, Net of Deferred Income | 68,681,000 | 49,104,000 | ||||||
Agricultural real estate | ||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||
Gross loans | 123,508,000 | 126,216,000 | ||||||
Ending Balance [Abstract] | ||||||||
Loans and Leases Receivable, Including Held for Sale, Net of Deferred Income | 123,420,000 | 126,108,000 | ||||||
1-4 Family residential properties | ||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||
Gross loans | 311,699,000 | 328,119,000 | ||||||
Ending Balance [Abstract] | ||||||||
Period When Loans are Charged-down | 180 days | |||||||
Loans and Leases Receivable, Including Held for Sale, Net of Deferred Income | 310,522,000 | 326,415,000 | ||||||
Multifamily residential properties | ||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||
Gross loans | 72,660,000 | 83,478,000 | ||||||
Ending Balance [Abstract] | ||||||||
Loans and Leases Receivable, Including Held for Sale, Net of Deferred Income | 72,492,000 | 83,200,000 | ||||||
Commercial real estate | ||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||
Gross loans | 635,420,000 | 633,694,000 | ||||||
Loans Receivable Additional Information [Abstract] | ||||||||
Debt coverage ratio | 1.20x | |||||||
Amortization period of loans | twenty years | |||||||
Ending Balance [Abstract] | ||||||||
Loans and Leases Receivable, Including Held for Sale, Net of Deferred Income | 632,492,000 | 630,135,000 | ||||||
Commercial real estate | Minimum [Member] | ||||||||
Loans Receivable Additional Information [Abstract] | ||||||||
Maximum Loan-to-value Ratio (in hundredths) | 65.00% | |||||||
Commercial real estate | Maximum [Member] | ||||||||
Loans Receivable Additional Information [Abstract] | ||||||||
Maximum Loan-to-value Ratio (in hundredths) | 80.00% | |||||||
Loans secured by real estate | ||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||
Gross loans | 1,212,134,000 | 1,220,873,000 | ||||||
Ending Balance [Abstract] | ||||||||
Loans and Leases Receivable, Including Held for Sale, Net of Deferred Income | 1,207,607,000 | 1,214,962,000 | ||||||
Agricultural loans | ||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||
Gross loans | 79,763,000 | 86,735,000 | ||||||
Ending Balance [Abstract] | ||||||||
Loans and Leases Receivable, Including Held for Sale, Net of Deferred Income | 79,759,000 | 86,685,000 | ||||||
Commercial and industrial loans | ||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||
Gross loans | 422,982,000 | 412,637,000 | ||||||
Loans Receivable Additional Information [Abstract] | ||||||||
Maximum Loan-to-value Ratio (in hundredths) | 80.00% | |||||||
Amortization period of loans | seven years | |||||||
Loans Receivable, Time Period | one year | |||||||
Ending Balance [Abstract] | ||||||||
Loans and Leases Receivable, Including Held for Sale, Net of Deferred Income | 421,280,000 | 409,033,000 | ||||||
Consumer loans | ||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||
Financing Receivable, Allowance for Credit Losses, Period Increase (Decrease) | 57,000 | 88,000 | $ 107,000 | 211,000 | 501,000 | |||
Gross loans | 33,132,000 | 38,404,000 | ||||||
Less [Abstract] | ||||||||
Allowance for loan losses | 751,000 | 710,000 | 693,000 | 642,000 | 642,000 | 716,000 | 693,000 | 733,000 |
Allowance for Loan Losses [Abstract] | ||||||||
Balance, beginning of period | 751,000 | 710,000 | 693,000 | 642,000 | 642,000 | |||
Losses charged off | (135,000) | (109,000) | (237,000) | (222,000) | (664,000) | |||
Recoveries | 43,000 | 44,000 | 153,000 | 102,000 | 214,000 | |||
Balance, end of period | 716,000 | 733,000 | 716,000 | 733,000 | 693,000 | |||
Ending Balance [Abstract] | ||||||||
Individually evaluated for impairment | 1,000 | 0 | 0 | |||||
Collectively evaluated for impairment | 715,000 | 693,000 | 733,000 | |||||
Ending Balance [Abstract] | ||||||||
Individually evaluated for impairment | 248,000 | 213,000 | 21,000 | |||||
Collectively evaluated for impairment | 35,611,000 | 41,644,000 | 41,656,000 | |||||
Loans Receivable, Net | 35,859,000 | 41,857,000 | 41,677,000 | |||||
Loans and Leases Receivable, Including Held for Sale, Net of Deferred Income | 32,814,000 | 38,028,000 | ||||||
All other loans | ||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||
Gross loans | 85,338,000 | 77,602,000 | ||||||
Ending Balance [Abstract] | ||||||||
Loans and Leases Receivable, Including Held for Sale, Net of Deferred Income | 84,174,000 | 77,284,000 | ||||||
Agricultural and Farm Loans [Member] | ||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||
Gross loans | 203,300,000 | 213,000,000 | ||||||
Less [Abstract] | ||||||||
Increase (Decrease) in loans receivable | $ (9,700,000) | |||||||
Loans Receivable Additional Information [Abstract] | ||||||||
Maximum Loan-to-value Ratio (in hundredths) | 65.00% | |||||||
Amortization period of loans | twenty five years | |||||||
Loans Receivable, Time Period | one year | |||||||
Other Grain Farming [Member] | ||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||
Gross loans | 164,700,000 | 171,300,000 | ||||||
Less [Abstract] | ||||||||
Increase (Decrease) in loans receivable | $ (6,600,000) | |||||||
Motels and Hotels Loans [Member] | ||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||
Gross loans | 120,500,000 | |||||||
Non-residential Buildings [Member] | ||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||
Gross loans | 145,800,000 | |||||||
Residential Buildings [Member] | ||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||
Gross loans | 129,700,000 | |||||||
Unsecured Open-end Loans [Member] | ||||||||
Ending Balance [Abstract] | ||||||||
Period When Loans are Charged-down | 180 days | |||||||
Other Secured Loans [Member] | ||||||||
Ending Balance [Abstract] | ||||||||
Period When Loans are Charged-down | 120 days | |||||||
Commercial/ Commercial Real Estate | ||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||
Financing Receivable, Allowance for Credit Losses, Period Increase (Decrease) | 1,667,000 | 388,000 | $ 3,133,000 | 613,000 | 1,467,000 | |||
Less [Abstract] | ||||||||
Allowance for loan losses | 13,771,000 | 11,789,000 | 12,901,000 | 11,379,000 | 11,379,000 | 14,747,000 | 12,901,000 | 11,995,000 |
Allowance for Loan Losses [Abstract] | ||||||||
Balance, beginning of period | 13,771,000 | 11,789,000 | 12,901,000 | 11,379,000 | 11,379,000 | |||
Losses charged off | (871,000) | (572,000) | (1,483,000) | (612,000) | (747,000) | |||
Recoveries | 180,000 | 390,000 | 196,000 | 615,000 | 802,000 | |||
Balance, end of period | 14,747,000 | 11,995,000 | 14,747,000 | 11,995,000 | 12,901,000 | |||
Ending Balance [Abstract] | ||||||||
Individually evaluated for impairment | 194,000 | 192,000 | 297,000 | |||||
Collectively evaluated for impairment | 14,553,000 | 12,695,000 | 11,698,000 | |||||
Ending Balance [Abstract] | ||||||||
Individually evaluated for impairment | 5,653,000 | 1,956,000 | 1,555,000 | |||||
Collectively evaluated for impairment | 1,241,763,000 | 1,199,003,000 | 855,595,000 | |||||
Loans Receivable, Net | 1,253,526,000 | 1,204,799,000 | 857,150,000 | |||||
Agricultural/ Agricultural Real Estate | ||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||
Financing Receivable, Allowance for Credit Losses, Period Increase (Decrease) | 86,000 | 179,000 | 155,000 | 111,000 | 933,000 | |||
Less [Abstract] | ||||||||
Allowance for loan losses | 2,319,000 | 1,270,000 | 2,249,000 | 1,337,000 | 1,337,000 | 1,743,000 | 2,249,000 | 1,449,000 |
Allowance for Loan Losses [Abstract] | ||||||||
Balance, beginning of period | 2,319,000 | 1,270,000 | 2,249,000 | 1,337,000 | 1,337,000 | |||
Losses charged off | (662,000) | 0 | (662,000) | 0 | (30,000) | |||
Recoveries | 0 | 0 | 1,000 | 1,000 | 9,000 | |||
Balance, end of period | 1,743,000 | 1,449,000 | 1,743,000 | 1,449,000 | 2,249,000 | |||
Ending Balance [Abstract] | ||||||||
Individually evaluated for impairment | 0 | 660,000 | 0 | |||||
Collectively evaluated for impairment | 1,743,000 | 1,589,000 | 1,449,000 | |||||
Ending Balance [Abstract] | ||||||||
Individually evaluated for impairment | 261,000 | 1,345,000 | 430,000 | |||||
Collectively evaluated for impairment | 202,620,000 | 211,168,000 | 194,384,000 | |||||
Loans Receivable, Net | 202,881,000 | 212,513,000 | 194,814,000 | |||||
Residential Real Estate | ||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||
Financing Receivable, Allowance for Credit Losses, Period Increase (Decrease) | 23,000 | 56,000 | 169,000 | 72,000 | 113,000 | |||
Less [Abstract] | ||||||||
Allowance for loan losses | 978,000 | 926,000 | $ 874,000 | 994,000 | 994,000 | 969,000 | 874,000 | 924,000 |
Loans Receivable Additional Information [Abstract] | ||||||||
Maximum Loan-to-value Ratio (in hundredths) | 80.00% | |||||||
Amortization period of loans | twenty five years | |||||||
Balloon period | five years | |||||||
Allowance for Loan Losses [Abstract] | ||||||||
Balance, beginning of period | 978,000 | 926,000 | $ 874,000 | 994,000 | 994,000 | |||
Losses charged off | (50,000) | (58,000) | (99,000) | (142,000) | (234,000) | |||
Recoveries | 18,000 | 0 | 25,000 | 0 | 1,000 | |||
Balance, end of period | 969,000 | 924,000 | 969,000 | 924,000 | 874,000 | |||
Ending Balance [Abstract] | ||||||||
Individually evaluated for impairment | 47,000 | 6,000 | 0 | |||||
Collectively evaluated for impairment | 922,000 | 868,000 | 924,000 | |||||
Ending Balance [Abstract] | ||||||||
Individually evaluated for impairment | 1,494,000 | 1,752,000 | 0 | |||||
Collectively evaluated for impairment | 331,874,000 | 360,825,000 | 221,546,000 | |||||
Loans Receivable, Net | 333,368,000 | 366,823,000 | 221,546,000 | |||||
Unallocated | ||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||
Financing Receivable, Allowance for Credit Losses, Period Increase (Decrease) | 7,000 | 22,000 | (2,000) | (161,000) | (188,000) | |||
Less [Abstract] | ||||||||
Allowance for loan losses | 27,000 | 41,000 | 36,000 | 224,000 | 224,000 | 34,000 | 36,000 | 63,000 |
Allowance for Loan Losses [Abstract] | ||||||||
Balance, beginning of period | 27,000 | 41,000 | 36,000 | 224,000 | 224,000 | |||
Losses charged off | 0 | 0 | 0 | 0 | 0 | |||
Recoveries | 0 | 0 | 0 | 0 | 0 | |||
Balance, end of period | $ 34,000 | $ 63,000 | $ 34,000 | $ 63,000 | $ 36,000 | |||
Ending Balance [Abstract] | ||||||||
Individually evaluated for impairment | 0 | 0 | 0 | |||||
Collectively evaluated for impairment | 34,000 | 36,000 | 63,000 | |||||
Ending Balance [Abstract] | ||||||||
Individually evaluated for impairment | 0 | 0 | 0 | |||||
Collectively evaluated for impairment | 0 | 0 | 0 | |||||
Loans Receivable, Net | 0 | 0 | 0 | |||||
Receivables Acquired with Deteriorated Credit Quality [Member] | ||||||||
Less [Abstract] | ||||||||
Net loans | 6,110,000 | 8,072,000 | ||||||
Ending Balance [Abstract] | ||||||||
Financing Receivable, Allowance for Credit Losses | 0 | 14,000 | 0 | |||||
Ending Balance [Abstract] | ||||||||
Financing Receivable, Net | 6,110,000 | 8,086,000 | 0 | |||||
Receivables Acquired with Deteriorated Credit Quality [Member] | 1-4 Family residential properties | ||||||||
Ending Balance [Abstract] | ||||||||
Financing Receivable, Net | 0 | 827,000 | ||||||
Receivables Acquired with Deteriorated Credit Quality [Member] | Multifamily residential properties | ||||||||
Ending Balance [Abstract] | ||||||||
Financing Receivable, Net | 3,396,000 | 3,419,000 | ||||||
Receivables Acquired with Deteriorated Credit Quality [Member] | Commercial and industrial loans | ||||||||
Ending Balance [Abstract] | ||||||||
Financing Receivable, Net | 16,000 | 24,000 | ||||||
Receivables Acquired with Deteriorated Credit Quality [Member] | Consumer loans | ||||||||
Ending Balance [Abstract] | ||||||||
Financing Receivable, Allowance for Credit Losses | 0 | 0 | 0 | |||||
Ending Balance [Abstract] | ||||||||
Financing Receivable, Net | 0 | 0 | 0 | |||||
Receivables Acquired with Deteriorated Credit Quality [Member] | Commercial/ Commercial Real Estate | ||||||||
Ending Balance [Abstract] | ||||||||
Financing Receivable, Allowance for Credit Losses | 0 | 14,000 | 0 | |||||
Ending Balance [Abstract] | ||||||||
Financing Receivable, Net | 6,110,000 | 3,840,000 | 0 | |||||
Receivables Acquired with Deteriorated Credit Quality [Member] | Agricultural/ Agricultural Real Estate | ||||||||
Ending Balance [Abstract] | ||||||||
Financing Receivable, Allowance for Credit Losses | 0 | 0 | 0 | |||||
Ending Balance [Abstract] | ||||||||
Financing Receivable, Net | 0 | 0 | 0 | |||||
Receivables Acquired with Deteriorated Credit Quality [Member] | Residential Real Estate | ||||||||
Ending Balance [Abstract] | ||||||||
Financing Receivable, Allowance for Credit Losses | 0 | 0 | 0 | |||||
Ending Balance [Abstract] | ||||||||
Financing Receivable, Net | 0 | 4,246,000 | 0 | |||||
Receivables Acquired with Deteriorated Credit Quality [Member] | Unallocated | ||||||||
Ending Balance [Abstract] | ||||||||
Financing Receivable, Allowance for Credit Losses | 0 | 0 | 0 | |||||
Ending Balance [Abstract] | ||||||||
Financing Receivable, Net | $ 0 | $ 0 | $ 0 |
Loans and Allowance for Loan 33
Loans and Allowance for Loan Losses, Part II (Details) | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||
Jun. 30, 2017USD ($) | Jun. 30, 2016USD ($) | Jun. 30, 2017USD ($) | Jun. 30, 2016USD ($) | Dec. 31, 2016USD ($) | |
Loans Receivable Aging Analysis [Abstract] | |||||
Total Past Due | $ 8,773,000 | $ 8,773,000 | $ 8,185,000 | ||
Current | 1,816,861,000 | 1,816,861,000 | 1,817,807,000 | ||
Total Loans Receivable | 1,825,634,000 | $ 1,315,187,000 | 1,825,634,000 | $ 1,315,187,000 | 1,825,992,000 |
Total Loans 90 Days & Accruing | 0 | $ 0 | 105,000 | ||
Number of days past due when interest is not accrued | ninety days | ||||
Period of satisfactory performance before returning to accrual status | not less than six months | ||||
Loans with a specific allowance [Abstract] | |||||
Recorded Balance | 7,656,000 | $ 7,656,000 | 5,266,000 | ||
Unpaid Principal Balance | 9,033,000 | 9,033,000 | 5,385,000 | ||
Specific Allowance | 242,000 | 242,000 | 858,000 | ||
Loans without a specific allowance [Abstract] | |||||
Recorded Balance | 9,469,000 | 9,469,000 | 12,972,000 | ||
Unpaid Principal Balance | 9,906,000 | 9,906,000 | 14,612,000 | ||
Total Loans [Abstract] | |||||
Recorded Balance | 17,125,000 | 17,125,000 | 18,238,000 | ||
Unpaid Principal Balance | 18,939,000 | 18,939,000 | 19,997,000 | ||
Average recorded investment and interest income recognized [Abstract] | |||||
Average investment in impaired loans | 17,968,000 | 5,096,000 | 16,333,000 | 5,219,000 | |
Interest income recognized | 190,000 | 5,000 | 277,000 | 9,000 | |
Balances of Nonaccrual Loans [Abstract] | |||||
Recorded balance of nonaccrual loans | 11,014,000 | 11,014,000 | 12,053,000 | ||
Interest Lost on Nonaccrual Loans | 140,000 | $ 80,000 | |||
Troubled Debt Restructuring [Abstract] | |||||
Troubled Debt Restructurings Balance | 9,323,000 | 9,323,000 | 10,889,000 | ||
Financing Receivable Modifications Performing Recorded Investment | 6,111,000 | $ 6,111,000 | 6,185,000 | ||
Recorded Balance of Troubled Debt Restructurings [Abstract] | |||||
Financing Receivables, Modifications during Period, Number | 1 | 5 | |||
Financing Receivables, Modifications during Period, Balance | $ 819,000 | $ 357,000 | |||
Subsequent Default, Number of Days Past Due | 90 days | ||||
Real Estate Acquired Through Foreclosure | 2,689,000 | $ 2,689,000 | 1,982,000 | ||
Other Repossessed Assets | 1,700,000 | 1,700,000 | |||
Mortgage Loans Secured By Real Estate In Foreclosure | 606,000 | 661,000 | |||
Pass | |||||
Loans Receivable Aging Analysis [Abstract] | |||||
Total Loans Receivable | 1,735,859,000 | 1,735,859,000 | 1,769,460,000 | ||
Special Mention | |||||
Loans Receivable Aging Analysis [Abstract] | |||||
Total Loans Receivable | 49,566,000 | 49,566,000 | 27,653,000 | ||
Substandard | |||||
Loans Receivable Aging Analysis [Abstract] | |||||
Total Loans Receivable | 40,209,000 | 40,209,000 | 28,879,000 | ||
Doubtful | |||||
Loans Receivable Aging Analysis [Abstract] | |||||
Total Loans Receivable | 0 | 0 | 0 | ||
Construction and land development | |||||
Loans Receivable Aging Analysis [Abstract] | |||||
Total Past Due | 0 | 0 | 0 | ||
Current | 68,681,000 | 68,681,000 | 49,104,000 | ||
Total Loans Receivable | 68,681,000 | 68,681,000 | 49,104,000 | ||
Total Loans 90 Days & Accruing | 0 | 0 | 0 | ||
Loans with a specific allowance [Abstract] | |||||
Recorded Balance | 593,000 | 593,000 | 227,000 | ||
Unpaid Principal Balance | 593,000 | 593,000 | 227,000 | ||
Specific Allowance | 0 | 0 | 0 | ||
Loans without a specific allowance [Abstract] | |||||
Recorded Balance | 0 | 0 | 0 | ||
Unpaid Principal Balance | 0 | 0 | 0 | ||
Total Loans [Abstract] | |||||
Recorded Balance | 593,000 | 593,000 | 227,000 | ||
Unpaid Principal Balance | 593,000 | 593,000 | 227,000 | ||
Average recorded investment and interest income recognized [Abstract] | |||||
Average investment in impaired loans | 594,000 | 580,000 | 347,000 | 632,000 | |
Interest income recognized | 0 | 0 | 0 | $ 0 | |
Balances of Nonaccrual Loans [Abstract] | |||||
Recorded balance of nonaccrual loans | 593,000 | 593,000 | 227,000 | ||
Troubled Debt Restructuring [Abstract] | |||||
Troubled Debt Restructurings Balance | 0 | $ 0 | 227,000 | ||
Recorded Balance of Troubled Debt Restructurings [Abstract] | |||||
Financing Receivables, Modifications during Period, Number | 0 | 1 | |||
Financing Receivables, Modifications during Period, Balance | $ 0 | $ 234,000 | |||
Construction and land development | Pass | |||||
Loans Receivable Aging Analysis [Abstract] | |||||
Total Loans Receivable | 68,088,000 | 68,088,000 | 48,877,000 | ||
Construction and land development | Special Mention | |||||
Loans Receivable Aging Analysis [Abstract] | |||||
Total Loans Receivable | 0 | 0 | 0 | ||
Construction and land development | Substandard | |||||
Loans Receivable Aging Analysis [Abstract] | |||||
Total Loans Receivable | 593,000 | 593,000 | 227,000 | ||
Construction and land development | Doubtful | |||||
Loans Receivable Aging Analysis [Abstract] | |||||
Total Loans Receivable | 0 | 0 | 0 | ||
Agricultural real estate | |||||
Loans Receivable Aging Analysis [Abstract] | |||||
Total Past Due | 640,000 | 640,000 | 424,000 | ||
Current | 122,780,000 | 122,780,000 | 125,684,000 | ||
Total Loans Receivable | 123,420,000 | 123,420,000 | 126,108,000 | ||
Total Loans 90 Days & Accruing | 0 | 0 | 0 | ||
Loans with a specific allowance [Abstract] | |||||
Recorded Balance | 0 | 0 | 0 | ||
Unpaid Principal Balance | 0 | 0 | 0 | ||
Specific Allowance | 0 | 0 | 0 | ||
Loans without a specific allowance [Abstract] | |||||
Recorded Balance | 16,000 | 16,000 | 205,000 | ||
Unpaid Principal Balance | 17,000 | 17,000 | 207,000 | ||
Total Loans [Abstract] | |||||
Recorded Balance | 16,000 | 16,000 | 205,000 | ||
Unpaid Principal Balance | 17,000 | 17,000 | 207,000 | ||
Average recorded investment and interest income recognized [Abstract] | |||||
Average investment in impaired loans | 16,000 | 450,000 | 17,000 | 450,000 | |
Interest income recognized | 0 | 0 | 0 | 0 | |
Balances of Nonaccrual Loans [Abstract] | |||||
Recorded balance of nonaccrual loans | 16,000 | 16,000 | 205,000 | ||
Agricultural real estate | Pass | |||||
Loans Receivable Aging Analysis [Abstract] | |||||
Total Loans Receivable | 117,180,000 | 117,180,000 | 118,934,000 | ||
Agricultural real estate | Special Mention | |||||
Loans Receivable Aging Analysis [Abstract] | |||||
Total Loans Receivable | 5,213,000 | 5,213,000 | 5,190,000 | ||
Agricultural real estate | Substandard | |||||
Loans Receivable Aging Analysis [Abstract] | |||||
Total Loans Receivable | 1,027,000 | 1,027,000 | 1,984,000 | ||
Agricultural real estate | Doubtful | |||||
Loans Receivable Aging Analysis [Abstract] | |||||
Total Loans Receivable | 0 | 0 | 0 | ||
1-4 Family residential properties | |||||
Loans Receivable Aging Analysis [Abstract] | |||||
Total Past Due | 2,754,000 | 2,754,000 | 3,575,000 | ||
Current | 307,768,000 | 307,768,000 | 322,840,000 | ||
Total Loans Receivable | 310,522,000 | 310,522,000 | 326,415,000 | ||
Total Loans 90 Days & Accruing | 0 | 0 | 105,000 | ||
Loans with a specific allowance [Abstract] | |||||
Recorded Balance | 1,494,000 | 1,494,000 | 997,000 | ||
Unpaid Principal Balance | 1,762,000 | 1,762,000 | 997,000 | ||
Specific Allowance | 47,000 | 47,000 | 6,000 | ||
Loans without a specific allowance [Abstract] | |||||
Recorded Balance | 1,403,000 | 1,403,000 | 2,497,000 | ||
Unpaid Principal Balance | 1,869,000 | 1,869,000 | 3,207,000 | ||
Total Loans [Abstract] | |||||
Recorded Balance | 2,897,000 | 2,897,000 | 3,494,000 | ||
Unpaid Principal Balance | 3,631,000 | 3,631,000 | 4,204,000 | ||
Average recorded investment and interest income recognized [Abstract] | |||||
Average investment in impaired loans | 2,929,000 | 1,244,000 | 3,121,000 | 1,264,000 | |
Interest income recognized | 106,000 | 4,000 | 117,000 | 8,000 | |
Loans Receivable, Modifications, Still Accruing Interest | 594,000 | 253,000 | 594,000 | $ 253,000 | |
Balances of Nonaccrual Loans [Abstract] | |||||
Recorded balance of nonaccrual loans | 2,302,000 | 2,302,000 | 2,890,000 | ||
Troubled Debt Restructuring [Abstract] | |||||
Troubled Debt Restructurings Balance | 909,000 | 909,000 | 1,753,000 | ||
Financing Receivable Modifications Performing Recorded Investment | 594,000 | $ 594,000 | 603,000 | ||
Recorded Balance of Troubled Debt Restructurings [Abstract] | |||||
Financing Receivables, Modifications during Period, Number | 0 | 1 | |||
Financing Receivables, Modifications during Period, Balance | $ 0 | $ 48,000 | |||
1-4 Family residential properties | Pass | |||||
Loans Receivable Aging Analysis [Abstract] | |||||
Total Loans Receivable | 299,314,000 | 299,314,000 | 318,921,000 | ||
1-4 Family residential properties | Special Mention | |||||
Loans Receivable Aging Analysis [Abstract] | |||||
Total Loans Receivable | 2,623,000 | 2,623,000 | 918,000 | ||
1-4 Family residential properties | Substandard | |||||
Loans Receivable Aging Analysis [Abstract] | |||||
Total Loans Receivable | 8,585,000 | 8,585,000 | 6,576,000 | ||
1-4 Family residential properties | Doubtful | |||||
Loans Receivable Aging Analysis [Abstract] | |||||
Total Loans Receivable | 0 | 0 | 0 | ||
Multifamily residential properties | |||||
Loans Receivable Aging Analysis [Abstract] | |||||
Total Past Due | 98,000 | 98,000 | 240,000 | ||
Current | 72,394,000 | 72,394,000 | 82,960,000 | ||
Total Loans Receivable | 72,492,000 | 72,492,000 | 83,200,000 | ||
Total Loans 90 Days & Accruing | 0 | 0 | 0 | ||
Loans with a specific allowance [Abstract] | |||||
Recorded Balance | 605,000 | 605,000 | 528,000 | ||
Unpaid Principal Balance | 605,000 | 605,000 | 528,000 | ||
Specific Allowance | 0 | 0 | 0 | ||
Loans without a specific allowance [Abstract] | |||||
Recorded Balance | 3,395,000 | 3,395,000 | 3,419,000 | ||
Unpaid Principal Balance | 3,395,000 | 3,395,000 | 3,547,000 | ||
Total Loans [Abstract] | |||||
Recorded Balance | 4,000,000 | 4,000,000 | 3,947,000 | ||
Unpaid Principal Balance | 4,000,000 | 4,000,000 | 4,075,000 | ||
Average recorded investment and interest income recognized [Abstract] | |||||
Average investment in impaired loans | 4,129,000 | 305,000 | 4,133,000 | 307,000 | |
Interest income recognized | 51,000 | 0 | 94,000 | 0 | |
Loans Receivable, Modifications, Still Accruing Interest | 3,395,000 | 3,395,000 | |||
Balances of Nonaccrual Loans [Abstract] | |||||
Recorded balance of nonaccrual loans | 605,000 | 605,000 | 528,000 | ||
Troubled Debt Restructuring [Abstract] | |||||
Troubled Debt Restructurings Balance | 3,395,000 | 3,395,000 | 3,419,000 | ||
Financing Receivable Modifications Performing Recorded Investment | 3,395,000 | 3,395,000 | 3,419,000 | ||
Multifamily residential properties | Pass | |||||
Loans Receivable Aging Analysis [Abstract] | |||||
Total Loans Receivable | 67,002,000 | 67,002,000 | 81,018,000 | ||
Multifamily residential properties | Special Mention | |||||
Loans Receivable Aging Analysis [Abstract] | |||||
Total Loans Receivable | 1,618,000 | 1,618,000 | 1,651,000 | ||
Multifamily residential properties | Substandard | |||||
Loans Receivable Aging Analysis [Abstract] | |||||
Total Loans Receivable | 3,872,000 | 3,872,000 | 531,000 | ||
Multifamily residential properties | Doubtful | |||||
Loans Receivable Aging Analysis [Abstract] | |||||
Total Loans Receivable | 0 | 0 | 0 | ||
Commercial real estate | |||||
Loans Receivable Aging Analysis [Abstract] | |||||
Total Past Due | 3,220,000 | 3,220,000 | 2,421,000 | ||
Current | 629,272,000 | 629,272,000 | 627,714,000 | ||
Total Loans Receivable | 632,492,000 | 632,492,000 | 630,135,000 | ||
Total Loans 90 Days & Accruing | 0 | 0 | 0 | ||
Loans with a specific allowance [Abstract] | |||||
Recorded Balance | 3,589,000 | 3,589,000 | 863,000 | ||
Unpaid Principal Balance | 3,703,000 | 3,703,000 | 884,000 | ||
Specific Allowance | 78,000 | 78,000 | 0 | ||
Loans without a specific allowance [Abstract] | |||||
Recorded Balance | 2,924,000 | 2,924,000 | 6,224,000 | ||
Unpaid Principal Balance | 3,154,000 | 3,154,000 | 6,802,000 | ||
Total Loans [Abstract] | |||||
Recorded Balance | 6,513,000 | 6,513,000 | 7,087,000 | ||
Unpaid Principal Balance | 6,857,000 | 6,857,000 | 7,686,000 | ||
Average recorded investment and interest income recognized [Abstract] | |||||
Average investment in impaired loans | 7,068,000 | 1,132,000 | 5,316,000 | 1,133,000 | |
Interest income recognized | 31,000 | 1,000 | 62,000 | 1,000 | |
Loans Receivable, Modifications, Still Accruing Interest | 2,087,000 | 34,000 | 2,087,000 | 34,000 | |
Balances of Nonaccrual Loans [Abstract] | |||||
Recorded balance of nonaccrual loans | 4,426,000 | 4,426,000 | 4,971,000 | ||
Troubled Debt Restructuring [Abstract] | |||||
Troubled Debt Restructurings Balance | 3,032,000 | 3,032,000 | 4,125,000 | ||
Financing Receivable Modifications Performing Recorded Investment | 2,087,000 | 2,087,000 | 2,116,000 | ||
Commercial real estate | Pass | |||||
Loans Receivable Aging Analysis [Abstract] | |||||
Total Loans Receivable | 594,806,000 | 594,806,000 | 610,025,000 | ||
Commercial real estate | Special Mention | |||||
Loans Receivable Aging Analysis [Abstract] | |||||
Total Loans Receivable | 17,160,000 | 17,160,000 | 5,229,000 | ||
Commercial real estate | Substandard | |||||
Loans Receivable Aging Analysis [Abstract] | |||||
Total Loans Receivable | 20,526,000 | 20,526,000 | 14,881,000 | ||
Commercial real estate | Doubtful | |||||
Loans Receivable Aging Analysis [Abstract] | |||||
Total Loans Receivable | 0 | 0 | 0 | ||
Agricultural loans | |||||
Loans Receivable Aging Analysis [Abstract] | |||||
Total Past Due | 1,130,000 | 1,130,000 | 486,000 | ||
Current | 78,629,000 | 78,629,000 | 86,199,000 | ||
Total Loans Receivable | 79,759,000 | 79,759,000 | 86,685,000 | ||
Total Loans 90 Days & Accruing | 0 | 0 | 0 | ||
Loans with a specific allowance [Abstract] | |||||
Recorded Balance | 261,000 | 261,000 | 1,345,000 | ||
Unpaid Principal Balance | 1,071,000 | 1,071,000 | 1,345,000 | ||
Specific Allowance | 0 | 0 | 660,000 | ||
Loans without a specific allowance [Abstract] | |||||
Recorded Balance | 565,000 | 565,000 | 43,000 | ||
Unpaid Principal Balance | 7,000 | 7,000 | 66,000 | ||
Total Loans [Abstract] | |||||
Recorded Balance | 826,000 | 826,000 | 1,388,000 | ||
Unpaid Principal Balance | 1,078,000 | 1,078,000 | 1,411,000 | ||
Average recorded investment and interest income recognized [Abstract] | |||||
Average investment in impaired loans | 826,000 | 15,000 | 930,000 | 16,000 | |
Interest income recognized | 0 | 0 | 0 | 0 | |
Balances of Nonaccrual Loans [Abstract] | |||||
Recorded balance of nonaccrual loans | 826,000 | 826,000 | 1,388,000 | ||
Troubled Debt Restructuring [Abstract] | |||||
Troubled Debt Restructurings Balance | 819,000 | $ 819,000 | 0 | ||
Recorded Balance of Troubled Debt Restructurings [Abstract] | |||||
Financing Receivables, Modifications during Period, Number | 1 | ||||
Financing Receivables, Modifications during Period, Balance | $ 819,000 | ||||
Agricultural loans | Pass | |||||
Loans Receivable Aging Analysis [Abstract] | |||||
Total Loans Receivable | 74,333,000 | 74,333,000 | 81,922,000 | ||
Agricultural loans | Special Mention | |||||
Loans Receivable Aging Analysis [Abstract] | |||||
Total Loans Receivable | 2,534,000 | 2,534,000 | 3,271,000 | ||
Agricultural loans | Substandard | |||||
Loans Receivable Aging Analysis [Abstract] | |||||
Total Loans Receivable | 2,892,000 | 2,892,000 | 1,492,000 | ||
Agricultural loans | Doubtful | |||||
Loans Receivable Aging Analysis [Abstract] | |||||
Total Loans Receivable | 0 | 0 | 0 | ||
Commercial and industrial loans | |||||
Loans Receivable Aging Analysis [Abstract] | |||||
Total Past Due | 680,000 | 680,000 | 799,000 | ||
Current | 420,600,000 | 420,600,000 | 408,234,000 | ||
Total Loans Receivable | 421,280,000 | 421,280,000 | 409,033,000 | ||
Total Loans 90 Days & Accruing | 0 | 0 | 0 | ||
Loans with a specific allowance [Abstract] | |||||
Recorded Balance | 866,000 | 866,000 | 1,093,000 | ||
Unpaid Principal Balance | 1,051,000 | 1,051,000 | 1,191,000 | ||
Specific Allowance | 116,000 | 116,000 | 192,000 | ||
Loans without a specific allowance [Abstract] | |||||
Recorded Balance | 1,086,000 | 1,086,000 | 378,000 | ||
Unpaid Principal Balance | 1,374,000 | 1,374,000 | 572,000 | ||
Total Loans [Abstract] | |||||
Recorded Balance | 1,952,000 | 1,952,000 | 1,471,000 | ||
Unpaid Principal Balance | 2,425,000 | 2,425,000 | 1,763,000 | ||
Average recorded investment and interest income recognized [Abstract] | |||||
Average investment in impaired loans | 1,781,000 | 1,100,000 | 1,841,000 | 1,143,000 | |
Interest income recognized | 2,000 | 0 | 4,000 | 0 | |
Loans Receivable, Modifications, Still Accruing Interest | 33,000 | 22,000 | 33,000 | $ 22,000 | |
Balances of Nonaccrual Loans [Abstract] | |||||
Recorded balance of nonaccrual loans | 1,622,000 | 1,622,000 | 1,430,000 | ||
Troubled Debt Restructuring [Abstract] | |||||
Troubled Debt Restructurings Balance | 920,000 | 920,000 | 1,040,000 | ||
Financing Receivable Modifications Performing Recorded Investment | 33,000 | $ 33,000 | 41,000 | ||
Recorded Balance of Troubled Debt Restructurings [Abstract] | |||||
Financing Receivables, Modifications during Period, Number | 0 | 3 | |||
Financing Receivables, Modifications during Period, Balance | $ 0 | $ 75,000 | |||
Commercial and industrial loans | Pass | |||||
Loans Receivable Aging Analysis [Abstract] | |||||
Total Loans Receivable | 401,352,000 | 401,352,000 | 397,762,000 | ||
Commercial and industrial loans | Special Mention | |||||
Loans Receivable Aging Analysis [Abstract] | |||||
Total Loans Receivable | 17,648,000 | 17,648,000 | 8,485,000 | ||
Commercial and industrial loans | Substandard | |||||
Loans Receivable Aging Analysis [Abstract] | |||||
Total Loans Receivable | 2,280,000 | 2,280,000 | 2,786,000 | ||
Commercial and industrial loans | Doubtful | |||||
Loans Receivable Aging Analysis [Abstract] | |||||
Total Loans Receivable | 0 | 0 | 0 | ||
Consumer loans | |||||
Loans Receivable Aging Analysis [Abstract] | |||||
Total Past Due | 251,000 | 251,000 | 240,000 | ||
Current | 32,563,000 | 32,563,000 | 37,788,000 | ||
Total Loans Receivable | 32,814,000 | 32,814,000 | 38,028,000 | ||
Total Loans 90 Days & Accruing | 0 | 0 | 0 | ||
Loans with a specific allowance [Abstract] | |||||
Recorded Balance | 248,000 | 248,000 | 213,000 | ||
Unpaid Principal Balance | 248,000 | 248,000 | 213,000 | ||
Specific Allowance | 1,000 | 1,000 | 0 | ||
Loans without a specific allowance [Abstract] | |||||
Recorded Balance | 80,000 | 80,000 | 206,000 | ||
Unpaid Principal Balance | 90,000 | 90,000 | 211,000 | ||
Total Loans [Abstract] | |||||
Recorded Balance | 328,000 | 328,000 | 419,000 | ||
Unpaid Principal Balance | 338,000 | 338,000 | 424,000 | ||
Average recorded investment and interest income recognized [Abstract] | |||||
Average investment in impaired loans | 625,000 | 260,000 | 628,000 | 264,000 | |
Interest income recognized | 0 | 0 | 0 | 0 | |
Loans Receivable, Modifications, Still Accruing Interest | 2,000 | 10,000 | 2,000 | 10,000 | |
Balances of Nonaccrual Loans [Abstract] | |||||
Recorded balance of nonaccrual loans | 624,000 | 624,000 | 414,000 | ||
Troubled Debt Restructuring [Abstract] | |||||
Troubled Debt Restructurings Balance | 248,000 | 248,000 | 325,000 | ||
Financing Receivable Modifications Performing Recorded Investment | 2,000 | 2,000 | 6,000 | ||
Consumer loans | Pass | |||||
Loans Receivable Aging Analysis [Abstract] | |||||
Total Loans Receivable | 32,366,000 | 32,366,000 | 37,624,000 | ||
Consumer loans | Special Mention | |||||
Loans Receivable Aging Analysis [Abstract] | |||||
Total Loans Receivable | 14,000 | 14,000 | 17,000 | ||
Consumer loans | Substandard | |||||
Loans Receivable Aging Analysis [Abstract] | |||||
Total Loans Receivable | 434,000 | 434,000 | 387,000 | ||
Consumer loans | Doubtful | |||||
Loans Receivable Aging Analysis [Abstract] | |||||
Total Loans Receivable | 0 | 0 | 0 | ||
All other loans | |||||
Loans Receivable Aging Analysis [Abstract] | |||||
Total Past Due | 0 | 0 | 0 | ||
Current | 84,174,000 | 84,174,000 | 77,284,000 | ||
Total Loans Receivable | 84,174,000 | 84,174,000 | 77,284,000 | ||
Total Loans 90 Days & Accruing | 0 | 0 | 0 | ||
Loans with a specific allowance [Abstract] | |||||
Recorded Balance | 0 | 0 | 0 | ||
Unpaid Principal Balance | 0 | 0 | 0 | ||
Specific Allowance | 0 | 0 | 0 | ||
Loans without a specific allowance [Abstract] | |||||
Recorded Balance | 0 | 0 | 0 | ||
Unpaid Principal Balance | 0 | 0 | 0 | ||
Total Loans [Abstract] | |||||
Recorded Balance | 0 | 0 | 0 | ||
Unpaid Principal Balance | 0 | 0 | 0 | ||
Average recorded investment and interest income recognized [Abstract] | |||||
Average investment in impaired loans | 0 | 10,000 | |||
Interest income recognized | 0 | 0 | |||
All other loans | Pass | |||||
Loans Receivable Aging Analysis [Abstract] | |||||
Total Loans Receivable | 81,418,000 | 81,418,000 | 74,377,000 | ||
All other loans | Special Mention | |||||
Loans Receivable Aging Analysis [Abstract] | |||||
Total Loans Receivable | 2,756,000 | 2,756,000 | 2,892,000 | ||
All other loans | Substandard | |||||
Loans Receivable Aging Analysis [Abstract] | |||||
Total Loans Receivable | 0 | 0 | 15,000 | ||
All other loans | Doubtful | |||||
Loans Receivable Aging Analysis [Abstract] | |||||
Total Loans Receivable | 0 | 0 | 0 | ||
Loans secured by real estate | |||||
Loans Receivable Aging Analysis [Abstract] | |||||
Total Past Due | 6,712,000 | 6,712,000 | 6,660,000 | ||
Current | 1,200,895,000 | 1,200,895,000 | 1,208,302,000 | ||
Total Loans Receivable | 1,207,607,000 | 1,207,607,000 | 1,214,962,000 | ||
Total Loans 90 Days & Accruing | 0 | 0 | 105,000 | ||
Loans with a specific allowance [Abstract] | |||||
Recorded Balance | 6,281,000 | 6,281,000 | 2,615,000 | ||
Unpaid Principal Balance | 6,663,000 | 6,663,000 | 2,636,000 | ||
Specific Allowance | 125,000 | 125,000 | 6,000 | ||
Loans without a specific allowance [Abstract] | |||||
Recorded Balance | 7,738,000 | 7,738,000 | 12,345,000 | ||
Unpaid Principal Balance | 8,435,000 | 8,435,000 | 13,763,000 | ||
Total Loans [Abstract] | |||||
Recorded Balance | 14,019,000 | 14,019,000 | 14,960,000 | ||
Unpaid Principal Balance | 15,098,000 | 15,098,000 | 16,399,000 | ||
Average recorded investment and interest income recognized [Abstract] | |||||
Average investment in impaired loans | 14,736,000 | 3,711,000 | 12,934,000 | 3,786,000 | |
Interest income recognized | 188,000 | $ 5,000 | 273,000 | $ 9,000 | |
Balances of Nonaccrual Loans [Abstract] | |||||
Recorded balance of nonaccrual loans | 7,942,000 | 7,942,000 | 8,821,000 | ||
Troubled Debt Restructuring [Abstract] | |||||
Troubled Debt Restructurings Balance | 7,336,000 | 7,336,000 | 9,524,000 | ||
Financing Receivable Modifications Performing Recorded Investment | 6,076,000 | $ 6,076,000 | 6,138,000 | ||
Recorded Balance of Troubled Debt Restructurings [Abstract] | |||||
Financing Receivables, Modifications during Period, Number | 0 | 2 | |||
Financing Receivables, Modifications during Period, Balance | $ 0 | $ 282,000 | |||
Financing Receivables, 30 to 59 Days Past Due [Member] | |||||
Loans Receivable Aging Analysis [Abstract] | |||||
Total Past Due | 4,965,000 | 4,965,000 | 4,468,000 | ||
Financing Receivables, 30 to 59 Days Past Due [Member] | Construction and land development | |||||
Loans Receivable Aging Analysis [Abstract] | |||||
Total Past Due | 0 | 0 | 0 | ||
Financing Receivables, 30 to 59 Days Past Due [Member] | Agricultural real estate | |||||
Loans Receivable Aging Analysis [Abstract] | |||||
Total Past Due | 237,000 | 237,000 | 0 | ||
Financing Receivables, 30 to 59 Days Past Due [Member] | 1-4 Family residential properties | |||||
Loans Receivable Aging Analysis [Abstract] | |||||
Total Past Due | 1,462,000 | 1,462,000 | 1,854,000 | ||
Financing Receivables, 30 to 59 Days Past Due [Member] | Multifamily residential properties | |||||
Loans Receivable Aging Analysis [Abstract] | |||||
Total Past Due | 0 | 0 | 0 | ||
Financing Receivables, 30 to 59 Days Past Due [Member] | Commercial real estate | |||||
Loans Receivable Aging Analysis [Abstract] | |||||
Total Past Due | 1,720,000 | 1,720,000 | 1,662,000 | ||
Financing Receivables, 30 to 59 Days Past Due [Member] | Agricultural loans | |||||
Loans Receivable Aging Analysis [Abstract] | |||||
Total Past Due | 931,000 | 931,000 | 365,000 | ||
Financing Receivables, 30 to 59 Days Past Due [Member] | Commercial and industrial loans | |||||
Loans Receivable Aging Analysis [Abstract] | |||||
Total Past Due | 455,000 | 455,000 | 395,000 | ||
Financing Receivables, 30 to 59 Days Past Due [Member] | Consumer loans | |||||
Loans Receivable Aging Analysis [Abstract] | |||||
Total Past Due | 160,000 | 160,000 | 192,000 | ||
Financing Receivables, 30 to 59 Days Past Due [Member] | All other loans | |||||
Loans Receivable Aging Analysis [Abstract] | |||||
Total Past Due | 0 | 0 | 0 | ||
Financing Receivables, 30 to 59 Days Past Due [Member] | Loans secured by real estate | |||||
Loans Receivable Aging Analysis [Abstract] | |||||
Total Past Due | 3,419,000 | 3,419,000 | 3,516,000 | ||
Financing Receivables, 60 to 89 Days Past Due [Member] | |||||
Loans Receivable Aging Analysis [Abstract] | |||||
Total Past Due | 1,009,000 | 1,009,000 | 1,836,000 | ||
Financing Receivables, 60 to 89 Days Past Due [Member] | Construction and land development | |||||
Loans Receivable Aging Analysis [Abstract] | |||||
Total Past Due | 0 | 0 | 0 | ||
Financing Receivables, 60 to 89 Days Past Due [Member] | Agricultural real estate | |||||
Loans Receivable Aging Analysis [Abstract] | |||||
Total Past Due | 299,000 | 299,000 | 131,000 | ||
Financing Receivables, 60 to 89 Days Past Due [Member] | 1-4 Family residential properties | |||||
Loans Receivable Aging Analysis [Abstract] | |||||
Total Past Due | 57,000 | 57,000 | 713,000 | ||
Financing Receivables, 60 to 89 Days Past Due [Member] | Multifamily residential properties | |||||
Loans Receivable Aging Analysis [Abstract] | |||||
Total Past Due | 98,000 | 98,000 | 0 | ||
Financing Receivables, 60 to 89 Days Past Due [Member] | Commercial real estate | |||||
Loans Receivable Aging Analysis [Abstract] | |||||
Total Past Due | 304,000 | 304,000 | 716,000 | ||
Financing Receivables, 60 to 89 Days Past Due [Member] | Agricultural loans | |||||
Loans Receivable Aging Analysis [Abstract] | |||||
Total Past Due | 199,000 | 199,000 | 84,000 | ||
Financing Receivables, 60 to 89 Days Past Due [Member] | Commercial and industrial loans | |||||
Loans Receivable Aging Analysis [Abstract] | |||||
Total Past Due | 49,000 | 49,000 | 155,000 | ||
Financing Receivables, 60 to 89 Days Past Due [Member] | Consumer loans | |||||
Loans Receivable Aging Analysis [Abstract] | |||||
Total Past Due | 3,000 | 3,000 | 37,000 | ||
Financing Receivables, 60 to 89 Days Past Due [Member] | All other loans | |||||
Loans Receivable Aging Analysis [Abstract] | |||||
Total Past Due | 0 | 0 | 0 | ||
Financing Receivables, 60 to 89 Days Past Due [Member] | Loans secured by real estate | |||||
Loans Receivable Aging Analysis [Abstract] | |||||
Total Past Due | 758,000 | 758,000 | 1,560,000 | ||
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | |||||
Loans Receivable Aging Analysis [Abstract] | |||||
Total Past Due | 2,799,000 | 2,799,000 | 1,881,000 | ||
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Construction and land development | |||||
Loans Receivable Aging Analysis [Abstract] | |||||
Total Past Due | 0 | 0 | 0 | ||
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Agricultural real estate | |||||
Loans Receivable Aging Analysis [Abstract] | |||||
Total Past Due | 104,000 | 104,000 | 293,000 | ||
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | 1-4 Family residential properties | |||||
Loans Receivable Aging Analysis [Abstract] | |||||
Total Past Due | 1,235,000 | 1,235,000 | 1,008,000 | ||
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Multifamily residential properties | |||||
Loans Receivable Aging Analysis [Abstract] | |||||
Total Past Due | 0 | 0 | 240,000 | ||
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Commercial real estate | |||||
Loans Receivable Aging Analysis [Abstract] | |||||
Total Past Due | 1,196,000 | 1,196,000 | 43,000 | ||
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Agricultural loans | |||||
Loans Receivable Aging Analysis [Abstract] | |||||
Total Past Due | 0 | 0 | 37,000 | ||
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Commercial and industrial loans | |||||
Loans Receivable Aging Analysis [Abstract] | |||||
Total Past Due | 176,000 | 176,000 | 249,000 | ||
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Consumer loans | |||||
Loans Receivable Aging Analysis [Abstract] | |||||
Total Past Due | 88,000 | 88,000 | 11,000 | ||
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | All other loans | |||||
Loans Receivable Aging Analysis [Abstract] | |||||
Total Past Due | 0 | 0 | 0 | ||
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Loans secured by real estate | |||||
Loans Receivable Aging Analysis [Abstract] | |||||
Total Past Due | $ 2,535,000 | $ 2,535,000 | $ 1,584,000 |
Loans and Allowance for Loan 34
Loans and Allowance for Loan Losses Loans and Allowance for Loan Losses, Part III (PCI Loans) (Details) - USD ($) | Jun. 30, 2017 | Dec. 31, 2016 | Sep. 08, 2016 | Jun. 30, 2016 |
Carrying Amount [Abstract] | ||||
Allowance for loan losses | $ 0 | |||
Carrying amount, net of allowance | $ 1,805,493,000 | $ 1,808,064,000 | ||
Receivables Acquired with Deteriorated Credit Quality [Member] | ||||
Carrying Amount [Abstract] | ||||
Carrying amount | 6,110,000 | 8,086,000 | 0 | |
Allowance for loan losses | 0 | 14,000 | $ 0 | |
Carrying amount, net of allowance | 6,110,000 | 8,072,000 | ||
Contractual Payments at Acquisition [Abstract] | ||||
Contractually required payments | $ 10,650,000 | |||
Fair value of acquired loans at acquisition | $ 8,688,000 | |||
1-4 Family residential properties | Receivables Acquired with Deteriorated Credit Quality [Member] | ||||
Carrying Amount [Abstract] | ||||
Carrying amount | 0 | 827,000 | ||
Multifamily residential properties | Receivables Acquired with Deteriorated Credit Quality [Member] | ||||
Carrying Amount [Abstract] | ||||
Carrying amount | 3,396,000 | 3,419,000 | ||
Commercial real estate | Receivables Acquired with Deteriorated Credit Quality [Member] | ||||
Carrying Amount [Abstract] | ||||
Carrying amount | 2,698,000 | 3,816,000 | ||
Loans secured by real estate | Receivables Acquired with Deteriorated Credit Quality [Member] | ||||
Carrying Amount [Abstract] | ||||
Carrying amount | 6,094,000 | 8,062,000 | ||
Commercial and industrial loans | Receivables Acquired with Deteriorated Credit Quality [Member] | ||||
Carrying Amount [Abstract] | ||||
Carrying amount | $ 16,000 | $ 24,000 |
Goodwill and Intangible Asset35
Goodwill and Intangible Assets Goodwill and Intangible Assets (Details) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Goodwill and Intangible Assets Gross Carrying Value [Abstract] | ||
Goodwill not subject to amortization (effective 1/1/02) | $ 61,551 | $ 61,551 |
Total Goodwill And Intangible Assets, Gross Carrying Value | 88,159 | 88,159 |
Goodwill and Intangible Assets Accumulated Amortization [Abstract] | ||
Goodwill not subject to amortization (effective 1/1/02) | 3,760 | 3,760 |
Total Goodwill and Intangible Assets, Accumulated Amortization | 19,555 | 18,521 |
Intangibles from branch acquisition | ||
Goodwill and Intangible Assets Gross Carrying Value [Abstract] | ||
Finite-Lived Intangible Assets, Gross | 3,015 | 3,015 |
Goodwill and Intangible Assets Accumulated Amortization [Abstract] | ||
Finite-Lived Intangible Assets, Accumulated Amortization | 3,015 | 3,015 |
Core Deposits [Member] | ||
Goodwill and Intangible Assets Gross Carrying Value [Abstract] | ||
Finite-Lived Intangible Assets, Gross | 19,862 | 19,862 |
Goodwill and Intangible Assets Accumulated Amortization [Abstract] | ||
Finite-Lived Intangible Assets, Accumulated Amortization | 10,587 | 9,644 |
Customer Lists [Member] | ||
Goodwill and Intangible Assets Gross Carrying Value [Abstract] | ||
Finite-Lived Intangible Assets, Gross | 3,731 | 3,731 |
Goodwill and Intangible Assets Accumulated Amortization [Abstract] | ||
Finite-Lived Intangible Assets, Accumulated Amortization | $ 2,193 | $ 2,102 |
Goodwill and Intangible Asset36
Goodwill and Intangible Assets Reconciliation of Purchase Price to Goodwill (Details) $ in Thousands | Sep. 08, 2016USD ($) |
Reconciliation of purchase price to goodwill recorded [Line Items] | |
Business Combination, Net Fair Value Adjustments | $ 8,044 |
Resulting goodwill from acquisition | 16,785 |
First Clover Leaf [Member] | |
Reconciliation of purchase price to goodwill recorded [Line Items] | |
Purchase price (in excess of net book value) | 8,741 |
Business Combination, Recognized Identifiable Assets and Liabilities Assumed, Securities | 109,174 |
Business Combination, Recognized Identifiable Assets and Liabilities Assumed, Repossessed Assets | 1,987 |
Fair value of premises and equipment | 11,581 |
Fair value of time deposits | 536,686 |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, FHLB Advances | 15,113 |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Subordinated Debentures | 3,269 |
Resulting goodwill from acquisition | 16,800 |
First Clover Leaf [Member] | Fair Value Adjustment [Member] | |
Reconciliation of purchase price to goodwill recorded [Line Items] | |
Business Combination, Recognized Identifiable Assets and Liabilities Assumed, Securities | 737 |
Business Combination, Recognized Identifiable Assets and Liabilities Assumed, Loans, net | 3,475 |
Business Combination, Recognized Identifiable Assets and Liabilities Assumed, Repossessed Assets | 754 |
Fair value of premises and equipment | (1,963) |
Fair value of time deposits | 1,994 |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, FHLB Advances | 113 |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Subordinated Debentures | (731) |
Core deposit intangible | 4,660 |
Other assets | $ 8,325 |
Goodwill and Intangible Asset37
Goodwill and Intangible Assets Amortization Expense (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | Dec. 31, 2016 | |
Total Amortization Expense [Abstract] | |||||
Amortization of intangible assets | $ 559 | $ 402 | $ 1,106 | $ 857 | |
Estimated Amortization Expense [Abstract] | |||||
For period 07/01/17-12/31/17 | 1,049 | 1,049 | |||
For year ended 12/31/18 | 1,954 | 1,954 | |||
For year ended 12/31/19 | 1,778 | 1,778 | |||
For year ended 12/31/20 | 1,576 | 1,576 | |||
For year ended 12/31/21 | 1,304 | 1,304 | |||
For year ended 12/31/22 | 1,195 | 1,195 | |||
Core Deposits [Member] | |||||
Total Amortization Expense [Abstract] | |||||
Amortization of intangible assets | 472 | 357 | 943 | 766 | |
Customer Lists [Member] | |||||
Total Amortization Expense [Abstract] | |||||
Amortization of intangible assets | 45 | 45 | 91 | 91 | |
Mortgage Servicing Rights [Member] | |||||
Total Amortization Expense [Abstract] | |||||
Amortization of intangible assets | $ 42 | $ 0 | $ 72 | $ 0 | $ 98 |
Goodwill and Intangible Asset38
Goodwill and Intangible Assets Mortgage Servicing Rights (Details) - USD ($) | Sep. 08, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | Dec. 31, 2016 | Dec. 31, 2015 |
Finite-Lived Intangible Assets [Line Items] | |||||||
Amortization of Intangible Assets | $ (559,000) | $ (402,000) | $ (1,106,000) | $ (857,000) | |||
Mortgage Servicing Rights [Member] | |||||||
Finite-Lived Intangible Assets [Line Items] | |||||||
Finite-lived Intangible Assets Acquired | $ 1,069,000 | 0 | $ 1,069,000 | ||||
Capitalization Of Mortgage Servicing Rights | 0 | 14,000 | |||||
Amortization of Intangible Assets | (42,000) | $ 0 | (72,000) | $ 0 | (98,000) | ||
Finite-Lived Intangible Assets, Net | $ 913,000 | $ 913,000 | $ 985,000 | $ 0 |
Repurchase Agreements and Oth39
Repurchase Agreements and Other Borrowings (Details) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2017 | Dec. 31, 2016 | |
Repurchase Agreements and Other Borrowings [Abstract] | ||
Securities Sold under Agreements to Repurchase | $ 142,411 | $ 185,763 |
Securities Sold under Agreements to Repurchase Increase (Decrease) | (43,400) | |
Disclosure of Repurchase Agreements [Abstract] | ||
Securities pledged to Repurchase Agreements | $ 142,411 | 185,763 |
Securities Sold Under Agreements to Repurchase Weighted Average Rate | 0.10% | |
FHLB Advances [Abstract] | ||
Federal Home Loan Bank Advances Short and Long Term | $ 45,066 | 40,094 |
FHLB advance, 3-Year Original Maturity 2 [Member] | ||
FHLB Advances [Abstract] | ||
Federal Home Loan Bank Advances Short and Long Term | $ 5,000 | |
Federal Home Loan Bank Advances, Original Maturity Term | 3-year maturity | |
Federal Home Loan Bank, Advances, Branch of FHLB Bank, Interest Rate | 1.30% | |
FHLB advance, 2-Year Maturity [Member] | ||
FHLB Advances [Abstract] | ||
Federal Home Loan Bank Advances Short and Long Term | $ 5,000 | |
Federal Home Loan Bank Advances, Original Maturity Term | 2-year maturity | |
Federal Home Loan Bank, Advances, Branch of FHLB Bank, Interest Rate | 0.99% | |
FHLB advance, 3-Year Original Maturity [Member] | ||
FHLB Advances [Abstract] | ||
Federal Home Loan Bank Advances Short and Long Term | $ 10,000 | |
Federal Home Loan Bank Advances, Original Maturity Term | 3-year maturity | |
Federal Home Loan Bank, Advances, Branch of FHLB Bank, Interest Rate | 1.42% | |
FHLB Advance, 1.5-Year Original Maturity [Member] | ||
FHLB Advances [Abstract] | ||
Federal Home Loan Bank Advances Short and Long Term | $ 5,000 | |
Federal Home Loan Bank Advances, Original Maturity Term | 1.5-year maturity | |
Federal Home Loan Bank, Advances, Branch of FHLB Bank, Interest Rate | 1.49% | |
FHLB Advance, 2-Year Original Maturity 2 [Member] | ||
FHLB Advances [Abstract] | ||
Federal Home Loan Bank Advances Short and Long Term | $ 5,000 | |
Federal Home Loan Bank Advances, Original Maturity Term | 2-year maturity | |
Federal Home Loan Bank, Advances, Branch of FHLB Bank, Interest Rate | 1.56% | |
FHLB advance, 6-Year Maturity [Member] | ||
FHLB Advances [Abstract] | ||
Federal Home Loan Bank Advances Short and Long Term | $ 5,000 | |
Federal Home Loan Bank Advances, Original Maturity Term | 6-year maturity | |
Federal Home Loan Bank, Advances, Branch of FHLB Bank, Interest Rate | 2.30% | |
FHLB Advance, 7 Year Maturity [Member] | ||
FHLB Advances [Abstract] | ||
Federal Home Loan Bank Advances Short and Long Term | $ 5,000 | |
Federal Home Loan Bank Advances, Original Maturity Term | 7-year maturity | |
Federal Home Loan Bank, Advances, Branch of FHLB Bank, Interest Rate | 2.55% | |
FHLB advance, 8-Year Maturity [Member] | ||
FHLB Advances [Abstract] | ||
Federal Home Loan Bank Advances Short and Long Term | $ 5,000 | |
Federal Home Loan Bank Advances, Original Maturity Term | 8-year maturity | |
Federal Home Loan Bank, Advances, Branch of FHLB Bank, Interest Rate | 2.40% | |
U.S. Treasury securities and obligations of U.S. government corporations & agencies | ||
Disclosure of Repurchase Agreements [Abstract] | ||
Securities pledged to Repurchase Agreements | $ 106,395 | 100,526 |
Residential Mortgage-backed Securities [Member] | ||
Disclosure of Repurchase Agreements [Abstract] | ||
Securities pledged to Repurchase Agreements | 36,016 | 84,064 |
Obligations of states and political subdivisions | ||
Disclosure of Repurchase Agreements [Abstract] | ||
Securities pledged to Repurchase Agreements | $ 0 | $ 1,173 |
Fair Value of Assets and Liab40
Fair Value of Assets and Liabilities (Details) - USD ($) | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | Dec. 31, 2016 | |
Available-for-sale: [Abstract] | |||||
Total available-for-sale securities | $ 682,140,000 | $ 682,140,000 | $ 619,848,000 | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | |||||
Beginning balance | $ 1,698,000 | $ 1,906,000 | |||
Transfers into Level 3 | 0 | 0 | |||
Transfers out of Level 3 | 0 | 0 | |||
Total gains or losses [Abstract] | |||||
Included in net income | 0 | 0 | |||
Included in other comprehensive income (loss) | 67,000 | (124,000) | |||
Purchases, issuances, sales and settlements [Abstract] | |||||
Purchases | 0 | 0 | |||
Issuances | 0 | 0 | |||
Sales | 0 | 0 | |||
Settlements | (19,000) | (36,000) | |||
Ending Balance | 1,746,000 | 1,746,000 | |||
Impaired Loans Receivable [Abstract] | |||||
Carrying amount of loans with a specific allowance | 9,033,000 | 9,033,000 | 5,385,000 | ||
Fair value of loans with a specific allowance | 7,656,000 | 7,656,000 | 5,266,000 | ||
Specific Allowance | 242,000 | 242,000 | 858,000 | ||
Fair Value, Measurements, Recurring [Member] | |||||
Available-for-sale: [Abstract] | |||||
Total available-for-sale securities | 682,140,000 | 682,140,000 | 619,848,000 | ||
Fair Value, Measurements, Recurring [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) | |||||
Available-for-sale: [Abstract] | |||||
Total available-for-sale securities | 151,000 | 151,000 | 144,000 | ||
Fair Value, Measurements, Recurring [Member] | Significant Other Observable Inputs (Level 2) | |||||
Available-for-sale: [Abstract] | |||||
Total available-for-sale securities | 679,565,000 | 679,565,000 | 618,052,000 | ||
Fair Value, Measurements, Recurring [Member] | Significant Unobservable Inputs (Level 3) | |||||
Available-for-sale: [Abstract] | |||||
Total available-for-sale securities | 2,424,000 | 2,424,000 | 1,652,000 | ||
Fair Value, Measurements, Nonrecurring [Member] | |||||
Impaired Loans Receivable [Abstract] | |||||
Carrying amount of loans with a specific allowance | 9,563,000 | 9,563,000 | |||
Fair value of loans with a specific allowance | 9,321,000 | 9,321,000 | |||
Specific Allowance | 242,000 | 242,000 | |||
U.S. Treasury securities and obligations of U.S. government corporations & agencies | |||||
Available-for-sale: [Abstract] | |||||
Total available-for-sale securities | 142,573,000 | 142,573,000 | 136,324,000 | ||
U.S. Treasury securities and obligations of U.S. government corporations & agencies | Fair Value, Measurements, Recurring [Member] | |||||
Available-for-sale: [Abstract] | |||||
Total available-for-sale securities | 142,573,000 | 142,573,000 | 136,324,000 | ||
U.S. Treasury securities and obligations of U.S. government corporations & agencies | Fair Value, Measurements, Recurring [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) | |||||
Available-for-sale: [Abstract] | |||||
Total available-for-sale securities | 0 | 0 | 0 | ||
U.S. Treasury securities and obligations of U.S. government corporations & agencies | Fair Value, Measurements, Recurring [Member] | Significant Other Observable Inputs (Level 2) | |||||
Available-for-sale: [Abstract] | |||||
Total available-for-sale securities | 142,573,000 | 142,573,000 | 136,324,000 | ||
U.S. Treasury securities and obligations of U.S. government corporations & agencies | Fair Value, Measurements, Recurring [Member] | Significant Unobservable Inputs (Level 3) | |||||
Available-for-sale: [Abstract] | |||||
Total available-for-sale securities | 0 | 0 | 0 | ||
Obligations of states and political subdivisions | |||||
Available-for-sale: [Abstract] | |||||
Total available-for-sale securities | 176,012,000 | 176,012,000 | 162,705,000 | ||
Obligations of states and political subdivisions | Fair Value, Measurements, Recurring [Member] | |||||
Available-for-sale: [Abstract] | |||||
Total available-for-sale securities | 176,012,000 | 176,012,000 | 162,705,000 | ||
Obligations of states and political subdivisions | Fair Value, Measurements, Recurring [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) | |||||
Available-for-sale: [Abstract] | |||||
Total available-for-sale securities | 0 | 0 | 0 | ||
Obligations of states and political subdivisions | Fair Value, Measurements, Recurring [Member] | Significant Other Observable Inputs (Level 2) | |||||
Available-for-sale: [Abstract] | |||||
Total available-for-sale securities | 176,012,000 | 176,012,000 | 162,705,000 | ||
Obligations of states and political subdivisions | Fair Value, Measurements, Recurring [Member] | Significant Unobservable Inputs (Level 3) | |||||
Available-for-sale: [Abstract] | |||||
Total available-for-sale securities | 0 | 0 | 0 | ||
Residential Mortgage-backed Securities [Member] | |||||
Available-for-sale: [Abstract] | |||||
Total available-for-sale securities | 356,944,000 | 356,944,000 | 314,991,000 | ||
Residential Mortgage-backed Securities [Member] | Fair Value, Measurements, Recurring [Member] | |||||
Available-for-sale: [Abstract] | |||||
Total available-for-sale securities | 356,944,000 | 356,944,000 | 314,991,000 | ||
Residential Mortgage-backed Securities [Member] | Fair Value, Measurements, Recurring [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) | |||||
Available-for-sale: [Abstract] | |||||
Total available-for-sale securities | 0 | 0 | 0 | ||
Residential Mortgage-backed Securities [Member] | Fair Value, Measurements, Recurring [Member] | Significant Other Observable Inputs (Level 2) | |||||
Available-for-sale: [Abstract] | |||||
Total available-for-sale securities | 356,944,000 | 356,944,000 | 314,991,000 | ||
Residential Mortgage-backed Securities [Member] | Fair Value, Measurements, Recurring [Member] | Significant Unobservable Inputs (Level 3) | |||||
Available-for-sale: [Abstract] | |||||
Total available-for-sale securities | 0 | 0 | 0 | ||
Trust preferred securities | |||||
Available-for-sale: [Abstract] | |||||
Total available-for-sale securities | 2,424,000 | 2,424,000 | 1,652,000 | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | |||||
Beginning balance | 1,638,000 | 1,652,000 | |||
Transfers into Level 3 | 0 | 0 | |||
Transfers out of Level 3 | 0 | 0 | |||
Total gains or losses [Abstract] | |||||
Included in net income | 0 | 0 | |||
Included in other comprehensive income (loss) | 825,000 | 848,000 | |||
Purchases, issuances, sales and settlements [Abstract] | |||||
Purchases | 0 | 0 | |||
Issuances | 0 | 0 | |||
Sales | 0 | 0 | |||
Settlements | (39,000) | (76,000) | |||
Ending Balance | 2,424,000 | 2,424,000 | |||
Total gains or losses for the period included in net income attributable to the change in unrealized gains or losses related to assets and liabilities still held at the reporting date | 0 | $ 0 | 0 | $ 0 | |
Trust preferred securities | Fair Value, Measurements, Recurring [Member] | |||||
Available-for-sale: [Abstract] | |||||
Total available-for-sale securities | 2,424,000 | 2,424,000 | 1,652,000 | ||
Trust preferred securities | Fair Value, Measurements, Recurring [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) | |||||
Available-for-sale: [Abstract] | |||||
Total available-for-sale securities | 0 | 0 | 0 | ||
Trust preferred securities | Fair Value, Measurements, Recurring [Member] | Significant Other Observable Inputs (Level 2) | |||||
Available-for-sale: [Abstract] | |||||
Total available-for-sale securities | 0 | 0 | 0 | ||
Trust preferred securities | Fair Value, Measurements, Recurring [Member] | Significant Unobservable Inputs (Level 3) | |||||
Available-for-sale: [Abstract] | |||||
Total available-for-sale securities | 2,424,000 | 2,424,000 | 1,652,000 | ||
Other securities | |||||
Available-for-sale: [Abstract] | |||||
Total available-for-sale securities | 4,187,000 | 4,187,000 | 4,176,000 | ||
Other securities | Fair Value, Measurements, Recurring [Member] | |||||
Available-for-sale: [Abstract] | |||||
Total available-for-sale securities | 4,187,000 | 4,187,000 | 4,176,000 | ||
Other securities | Fair Value, Measurements, Recurring [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) | |||||
Available-for-sale: [Abstract] | |||||
Total available-for-sale securities | 151,000 | 151,000 | 144,000 | ||
Other securities | Fair Value, Measurements, Recurring [Member] | Significant Other Observable Inputs (Level 2) | |||||
Available-for-sale: [Abstract] | |||||
Total available-for-sale securities | 4,036,000 | 4,036,000 | 4,032,000 | ||
Other securities | Fair Value, Measurements, Recurring [Member] | Significant Unobservable Inputs (Level 3) | |||||
Available-for-sale: [Abstract] | |||||
Total available-for-sale securities | $ 0 | $ 0 | $ 0 |
Fair Value of Assets and Liab41
Fair Value of Assets and Liabilities, Part II (Details) - USD ($) | 6 Months Ended | 12 Months Ended | |
Jun. 30, 2017 | Dec. 31, 2016 | ||
Foreclosed Assets Held for Sale [Abstract] | |||
Other real estate owned | $ 2,689,000 | $ 1,982,000 | |
Assets Measured On Recurring And Nonrecurring Basis Valuation Techniques [Abstract] | |||
Assets, Fair Value Disclosure, Recurring | 2,424,000 | 1,652,000 | |
Financial Assets [Abstract] | |||
Available-for-sale securities | 682,140,000 | 619,848,000 | |
Held-to-maturity Securities | 74,281,000 | 74,231,000 | |
Held-to-maturity Securities, Fair Value | 74,224,000 | 73,096,000 | |
Financial Liabilities [Abstract] | |||
Other borrowings | 12,188,000 | 18,063,000 | |
Carrying Amount [Member] | |||
Financial Assets [Abstract] | |||
Cash and due from banks | 73,398,000 | 137,002,000 | |
Federal funds sold | 491,000 | 38,900,000 | |
Certificates of deposit investments | 1,685,000 | 14,643,000 | |
Available-for-sale securities | 682,140,000 | 619,848,000 | |
Held-to-maturity Securities | 74,281,000 | 74,231,000 | |
Loans held for sale | 1,932,000 | 1,175,000 | |
Loans net of allowance for loan losses | 1,805,493,000 | 1,808,064,000 | |
Interest receivable | 9,620,000 | 10,553,000 | |
Federal Reserve Bank stock | 4,128,000 | 3,949,000 | |
Federal Home Loan Bank stock | 2,407,000 | 4,389,000 | |
Financial Liabilities [Abstract] | |||
Deposits | 2,289,406,000 | 2,329,887,000 | |
Securities sold under agreements to repurchase | 142,411,000 | 185,763,000 | |
Interest payable | 502,000 | 535,000 | |
Federal Home Loan Bank borrowings | 45,066,000 | 40,094,000 | |
Other Liabilities, Fair Value Disclosure | 18,063,000 | ||
Other borrowings | 12,188,000 | ||
Junior subordinated debentures | 23,959,000 | 23,917,000 | |
Fair Value [Member] | |||
Financial Assets [Abstract] | |||
Cash and due from banks | 73,398,000 | 137,002,000 | |
Federal funds sold | 491,000 | 38,900,000 | |
Certificates of deposit investments | 1,712,000 | 14,651,000 | |
Available-for-sale securities | 682,140,000 | 619,848,000 | |
Held-to-maturity Securities, Fair Value | 74,224,000 | 73,096,000 | |
Loans held for sale | 1,932,000 | 1,175,000 | |
Loans net of allowance for loan losses | 1,724,890,000 | 1,795,764,000 | |
Interest receivable | 9,620,000 | 10,553,000 | |
Federal Reserve Bank stock | 4,128,000 | 3,949,000 | |
Federal Home Loan Bank stock | 2,407,000 | 4,389,000 | |
Financial Liabilities [Abstract] | |||
Deposits | 2,293,494,000 | 2,331,725,000 | |
Securities sold under agreements to repurchase | 142,406,000 | 185,766,000 | |
Interest payable | 502,000 | 535,000 | |
Federal Home Loan Bank borrowings | 45,408,000 | 40,318,000 | |
Other Liabilities, Fair Value Disclosure | 18,063,000 | ||
Other borrowings | 12,188,000 | ||
Junior subordinated debentures | 17,396,000 | 17,068,000 | |
Fair Value, Measurements, Nonrecurring [Member] | Carrying Amount [Member] | |||
Foreclosed Assets Held for Sale [Abstract] | |||
Other real estate owned | 2,689,000 | ||
Fair Value, Measurements, Nonrecurring [Member] | Fair Value [Member] | |||
Foreclosed Assets Held for Sale [Abstract] | |||
Other real estate owned | 111,000 | ||
Quoted Prices in Active Markets for Identical Assets (Level 1) | |||
Financial Assets [Abstract] | |||
Cash and due from banks | 73,398,000 | 137,002,000 | |
Federal funds sold | 491,000 | 38,900,000 | |
Certificates of deposit investments | 0 | 0 | |
Available-for-sale securities | 151,000 | 144,000 | |
Held-to-maturity Securities, Fair Value | 0 | 0 | |
Loans held for sale | 0 | 0 | |
Loans net of allowance for loan losses | 0 | 0 | |
Interest receivable | 0 | 0 | |
Federal Reserve Bank stock | 0 | 0 | |
Federal Home Loan Bank stock | 0 | 0 | |
Financial Liabilities [Abstract] | |||
Deposits | 0 | 0 | |
Securities sold under agreements to repurchase | 0 | 0 | |
Interest payable | 0 | 0 | |
Federal Home Loan Bank borrowings | 0 | 0 | |
Other borrowings | 0 | 0 | |
Junior subordinated debentures | 0 | 0 | |
Significant Other Observable Inputs (Level 2) | |||
Financial Assets [Abstract] | |||
Cash and due from banks | 0 | 0 | |
Federal funds sold | 0 | 0 | |
Certificates of deposit investments | 1,712,000 | 14,651,000 | |
Available-for-sale securities | 679,565,000 | 618,052,000 | |
Held-to-maturity Securities, Fair Value | 74,224,000 | 73,096,000 | |
Loans held for sale | 1,932,000 | 1,175,000 | |
Loans net of allowance for loan losses | 0 | 0 | |
Interest receivable | 9,620,000 | 10,553,000 | |
Federal Reserve Bank stock | 4,128,000 | 3,949,000 | |
Federal Home Loan Bank stock | 2,407,000 | 4,389,000 | |
Financial Liabilities [Abstract] | |||
Deposits | 1,960,434,000 | 1,976,806,000 | |
Securities sold under agreements to repurchase | 142,406,000 | 185,766,000 | |
Interest payable | 502,000 | 535,000 | |
Federal Home Loan Bank borrowings | 45,408,000 | 40,318,000 | |
Other borrowings | 12,188,000 | 18,063,000 | |
Junior subordinated debentures | 17,396,000 | 17,068,000 | |
Significant Unobservable Inputs (Level 3) | |||
Financial Assets [Abstract] | |||
Cash and due from banks | 0 | 0 | |
Federal funds sold | 0 | 0 | |
Certificates of deposit investments | 0 | 0 | |
Available-for-sale securities | 2,424,000 | 1,652,000 | |
Held-to-maturity Securities, Fair Value | 0 | 0 | |
Loans held for sale | 0 | 0 | |
Loans net of allowance for loan losses | 1,724,890,000 | 1,795,764,000 | |
Interest receivable | 0 | 0 | |
Federal Reserve Bank stock | 0 | 0 | |
Federal Home Loan Bank stock | 0 | 0 | |
Financial Liabilities [Abstract] | |||
Deposits | 333,060,000 | 354,919,000 | |
Securities sold under agreements to repurchase | 0 | 0 | |
Interest payable | 0 | 0 | |
Federal Home Loan Bank borrowings | 0 | 0 | |
Other borrowings | 0 | 0 | |
Junior subordinated debentures | $ 0 | $ 0 | |
Trust preferred securities | Significant Unobservable Inputs (Level 3) | Discounted Cash Flow [Member] | |||
Assets Measured On Recurring And Nonrecurring Basis Valuation Techniques [Abstract] | |||
Discount rate (in hundredths) | 13.30% | 13.60% | |
Constant prepayment rate (in hundredths) | [1] | 1.30% | 1.30% |
Cumulative projected prepayments (in hundredths) | 21.80% | 22.40% | |
Probability of default (in hundredths) | 0.50% | 0.50% | |
Loss severity (in hundredths) | 97.60% | 97.60% | |
Projected cures given deferral (in hundredths) | 0.00% | 0.00% | |
Impaired loans (collateral dependent) | Fair Value, Measurements, Nonrecurring [Member] | |||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | |||
Assets, Fair Value Disclosure, Nonrecurring | $ 9,321,000 | $ 6,938,000 | |
Impaired loans (collateral dependent) | Quoted Prices in Active Markets for Identical Assets (Level 1) | Fair Value, Measurements, Nonrecurring [Member] | |||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | |||
Assets, Fair Value Disclosure, Nonrecurring | 0 | 0 | |
Impaired loans (collateral dependent) | Significant Other Observable Inputs (Level 2) | Fair Value, Measurements, Nonrecurring [Member] | |||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | |||
Assets, Fair Value Disclosure, Nonrecurring | $ 0 | $ 0 | |
Impaired loans (collateral dependent) | Significant Unobservable Inputs (Level 3) | Minimum [Member] | Third Party Valuations [Member] | |||
Assets Measured On Recurring And Nonrecurring Basis Valuation Techniques [Abstract] | |||
Discount to reflect realizable value | 0.00% | 0.00% | |
Impaired loans (collateral dependent) | Significant Unobservable Inputs (Level 3) | Maximum [Member] | Third Party Valuations [Member] | |||
Assets Measured On Recurring And Nonrecurring Basis Valuation Techniques [Abstract] | |||
Discount to reflect realizable value | 40.00% | 40.00% | |
Impaired loans (collateral dependent) | Significant Unobservable Inputs (Level 3) | Weighted Average [Member] | Third Party Valuations [Member] | |||
Assets Measured On Recurring And Nonrecurring Basis Valuation Techniques [Abstract] | |||
Discount to reflect realizable value | 20.00% | 20.00% | |
Impaired loans (collateral dependent) | Significant Unobservable Inputs (Level 3) | Fair Value, Measurements, Nonrecurring [Member] | |||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | |||
Assets, Fair Value Disclosure, Nonrecurring | $ 9,321,000 | $ 6,938,000 | |
Assets Held-for-sale [Member] | Fair Value, Measurements, Nonrecurring [Member] | |||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | |||
Assets, Fair Value Disclosure, Nonrecurring | 111,000 | 173,000 | |
Assets Held-for-sale [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) | Fair Value, Measurements, Nonrecurring [Member] | |||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | |||
Assets, Fair Value Disclosure, Nonrecurring | 0 | 0 | |
Assets Held-for-sale [Member] | Significant Other Observable Inputs (Level 2) | Fair Value, Measurements, Nonrecurring [Member] | |||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | |||
Assets, Fair Value Disclosure, Nonrecurring | $ 0 | $ 0 | |
Assets Held-for-sale [Member] | Significant Unobservable Inputs (Level 3) | Minimum [Member] | Third Party Valuations [Member] | |||
Assets Measured On Recurring And Nonrecurring Basis Valuation Techniques [Abstract] | |||
Discount to reflect realizable value less estimated selling costs (in hundredths) | 0.00% | 0.00% | |
Assets Held-for-sale [Member] | Significant Unobservable Inputs (Level 3) | Maximum [Member] | Third Party Valuations [Member] | |||
Assets Measured On Recurring And Nonrecurring Basis Valuation Techniques [Abstract] | |||
Discount to reflect realizable value less estimated selling costs (in hundredths) | 40.00% | 40.00% | |
Assets Held-for-sale [Member] | Significant Unobservable Inputs (Level 3) | Weighted Average [Member] | Third Party Valuations [Member] | |||
Assets Measured On Recurring And Nonrecurring Basis Valuation Techniques [Abstract] | |||
Discount to reflect realizable value less estimated selling costs (in hundredths) | 35.00% | 35.00% | |
Assets Held-for-sale [Member] | Significant Unobservable Inputs (Level 3) | Fair Value, Measurements, Nonrecurring [Member] | |||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | |||
Assets, Fair Value Disclosure, Nonrecurring | $ 111,000 | $ 173,000 | |
[1] | Every five years |
Business Combinations Narrative
Business Combinations Narrative (FCL) (Details) | Sep. 08, 2016USD ($)$ / sharesshares | Jun. 30, 2017$ / shares | Dec. 31, 2016$ / shares |
Business Acquisition [Line Items] | |||
Common stock, par value (in dollars per share) | $ / shares | $ 4 | $ 4 | |
Goodwill, Acquired During Period | $ 16,785,000 | ||
First Clover Leaf [Member] | |||
Business Acquisition [Line Items] | |||
Percent Of Acquiree Outstanding Stock Being Acquired In Merger | 1 | ||
Percentage of business acquisition consideration paid in cash | 25.00% | ||
Right To Receive Value of Cash Option | $ / shares | $ 12.87 | ||
Aggregate Total Of Cash Paid In Business Combination | $ 22,545,000 | ||
Portion of Business Acquisition Consideration Paid In Common Stock | 75.00% | ||
Right To Receive Value Of Share Option | shares | 0.495 | ||
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares | shares | 2,600,616 | ||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets | $ 668,905,000 | ||
Business Combination, Recognized Identifiable Assets and Liabilities Assumed, Loans | 438,265,000 | ||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deposits | 536,686,000 | ||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Premises And Equipment | 11,581,000 | ||
Goodwill, Acquired During Period | 16,800,000 | ||
Business Acquisition Deposit Premium on Core Deposits | 8,741,000 | ||
Acquired Book Value [Member] | First Clover Leaf [Member] | |||
Business Acquisition [Line Items] | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets | 658,788,000 | ||
Business Combination, Recognized Identifiable Assets and Liabilities Assumed, Loans | 448,668,000 | ||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deposits | 534,692,000 | ||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Premises And Equipment | $ 9,618,000 |
Business Combinations Assets Ac
Business Combinations Assets Acquired and Liabilities Assumed (Details) - First Clover Leaf [Member] - USD ($) | Sep. 08, 2016 | Jun. 30, 2017 | Jun. 30, 2017 |
Business Acquisition [Line Items] | |||
Business Combination Recognized Identifiable Assets Acquired and LIabilities Assumed, cash on hand | $ 59,320,000 | ||
Business Combination, Recognized Identifiable Assets and Liabilities Assumed, Securities | (109,174,000) | ||
Business Combination, Recognized Identifiable Assets and Liabilities Assumed, Loans | (438,265,000) | ||
Business Combination Recognized Identifiable Assets Acquired and Liabilities Assumed Allowance For Loan Losses | 0 | ||
Business Combination, Recognized Identifiable Assets and Liabilities Assumed, Repossessed Assets | (1,987,000) | ||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Premises And Equipment | (11,581,000) | ||
Business Acquisition, Goodwill, Non-deductible Amount | 16,785,000 | ||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill | 4,660,000 | ||
Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed, Other Assets | (27,133,000) | ||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets | 668,905,000 | ||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deposits | 536,686,000 | ||
Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed, Securities Sold Under Agreements to Repurchase | 23,263,000 | ||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, FHLB Advances | 15,113,000 | ||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Subordinated Debentures | 3,269,000 | ||
Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed, Other Liabilities | 2,103,000 | ||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities | 580,434,000 | ||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net | 88,471,000 | ||
Aggregate Total Of Cash Paid In Business Combination | 22,545,000 | ||
Business Acquisition, Equity Interest Issued or Issuable, Value Assigned | 65,926,000 | ||
Business Combination, Value of Total Consideration Paid | 88,471,000 | ||
Business Combination, Aggregate Acquisition Costs | $ 3,293,000 | ||
Business Combination, Acquisition Related Costs | $ 1,953,000 | ||
Finite-Lived Intangible Asset, Useful Life | 10 years | ||
Acquired Book Value [Member] | |||
Business Acquisition [Line Items] | |||
Business Combination Recognized Identifiable Assets Acquired and LIabilities Assumed, cash on hand | 59,320,000 | ||
Business Combination, Recognized Identifiable Assets and Liabilities Assumed, Securities | (109,911,000) | ||
Business Combination, Recognized Identifiable Assets and Liabilities Assumed, Loans | (448,668,000) | ||
Business Combination Recognized Identifiable Assets Acquired and Liabilities Assumed Allowance For Loan Losses | (6,928,000) | ||
Business Combination, Recognized Identifiable Assets and Liabilities Assumed, Repossessed Assets | (2,741,000) | ||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Premises And Equipment | (9,618,000) | ||
Business Acquisition, Goodwill, Non-deductible Amount | 11,385,000 | ||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill | 99,000 | ||
Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed, Other Assets | (23,974,000) | ||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets | 658,788,000 | ||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deposits | 534,692,000 | ||
Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed, Securities Sold Under Agreements to Repurchase | 23,263,000 | ||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, FHLB Advances | 15,000,000 | ||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Subordinated Debentures | 4,000,000 | ||
Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed, Other Liabilities | 2,103,000 | ||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities | 579,058,000 | ||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net | 79,730,000 | ||
Fair Value Adjustment [Member] | |||
Business Acquisition [Line Items] | |||
Business Combination Recognized Identifiable Assets Acquired and LIabilities Assumed, cash on hand | 0 | ||
Business Combination, Recognized Identifiable Assets and Liabilities Assumed, Securities | (737,000) | ||
Business Combination, Recognized Identifiable Assets and Liabilities Assumed, Loans | (10,403,000) | ||
Business Combination Recognized Identifiable Assets Acquired and Liabilities Assumed Allowance For Loan Losses | (6,928,000) | ||
Business Combination, Recognized Identifiable Assets and Liabilities Assumed, Repossessed Assets | (754,000) | ||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Premises And Equipment | 1,963,000 | ||
Business Acquisition, Goodwill, Non-deductible Amount | 5,400,000 | ||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill | 4,561,000 | ||
Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed, Other Assets | 3,159,000 | ||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets | 10,117,000 | ||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deposits | 1,994,000 | ||
Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed, Securities Sold Under Agreements to Repurchase | 0 | ||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, FHLB Advances | 113,000 | ||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Subordinated Debentures | (731,000) | ||
Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed, Other Liabilities | 0 | ||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities | 1,376,000 | ||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net | 8,741,000 | ||
Fair Value Adjustments, Accretable portion [Member] | |||
Business Acquisition [Line Items] | |||
Business Combination, Recognized Identifiable Assets and Liabilities Assumed, Loans | $ 8,400,000 |
Business Combinations Pro Forma
Business Combinations Pro Forma Information (Details) - First Clover Leaf [Member] - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | 6 Months Ended |
Jun. 30, 2016 | Jun. 30, 2016 | |
Business Acquisition [Line Items] | ||
Business Acquisitions Pro Forma Net Interest Income | $ 21,214 | $ 42,915 |
Business Acquisitions Pro Forma Provision For Loan Losses | 803 | 961 |
Business Acquisitions Pro Forma Non-Interest Income | 7,165 | 14,422 |
Business Acquisitions Pro Forma Non-Interest Expense | 18,710 | 38,012 |
Business Acquisitions Pro Forma Income before Income Taxes | 8,866 | 18,364 |
Business Acquisitions Pro Forma, Income Tax Expense | 2,893 | 6,103 |
Business Acquisition, Pro Forma Net Income (Loss) | 5,973 | 12,261 |
Business Acquisitions Pro Forma, Dividends On Preferred Shares | 0 | 0 |
Business Acquisitions Pro Forma, Net Income Available To Common Stockholders | $ 5,973 | $ 12,261 |
Business Acquisition, Pro Forma Earnings Per Share, Basic | $ 510 | $ 1,080 |
Business Acquisition, Pro Forma Earnings Per Share, Diluted | $ 480 | $ 990 |
Weighted Average Basic Shares Outstanding, Pro Forma | 11,753,325 | 11,404,723 |
Pro Forma Weighted Average Shares Outstanding, Diluted | 12,445,488 | 12,432,707 |