Document and Entity Information
Document and Entity Information - shares | 6 Months Ended | |
Jun. 30, 2019 | Aug. 06, 2019 | |
Document and Entity Information [Abstract] | ||
Amendment Flag | false | |
Document Type | 10-Q | |
Document Period End Date | Jun. 30, 2019 | |
Document Fiscal Year Focus | 2019 | |
Document Fiscal Period Focus | Q2 | |
Entity Registrant Name | HORIZON BANCORP INC /IN/ | |
Entity Central Index Key | 0000706129 | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Large Accelerated Filer | |
Trading Symbol | HBNC | |
Entity Common Stock, Shares Outstanding | 45,061,372 | |
Entity Emerging Growth Company | false | |
Entity Small Business | false | |
Entity Shell Company | false | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Document Quarterly Report | true | |
Document Transition Report | false | |
Title of 12(b) Security | Common stock | |
Security Exchange Name | NASDAQ | |
Entity File Number | 0-10792 | |
Entity Incorporation, State or Country Code | IN | |
Entity Tax Identification Number | 35-1562417 | |
Entity Address, Address Line One | 515 Franklin Street | |
Entity Address, City or Town | Michigan City | |
Entity Address, State or Province | IN | |
Entity Address, Postal Zip Code | 46360 | |
City Area Code | 219 | |
Local Phone Number | 879-0211 |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
Assets | ||
Cash and due from banks | $ 94,686 | $ 58,492 |
Interest-earning time deposits | 8,090 | 15,744 |
Investment securities, available for sale | 673,419 | 600,348 |
Investment securities, held to maturity (fair value of $219,891 and $208,273) | 213,768 | 210,112 |
Loans held for sale | 3,185 | 1,038 |
Loans, net of allowance for loan losses of $18,305 and $17,820 | 3,646,363 | 2,995,512 |
Premises and equipment, net | 91,469 | 74,331 |
Federal Home Loan Bank stock | 22,447 | 18,073 |
Goodwill | 151,111 | 119,880 |
Other intangible assets | 28,665 | 10,390 |
Interest receivable | 19,015 | 14,239 |
Cash value of life insurance | 94,613 | 88,062 |
Other assets | 51,851 | 40,467 |
Total assets | 5,098,682 | 4,246,688 |
Liabilities | ||
Non-interest bearing | 810,350 | 642,129 |
Interest bearing | 3,120,425 | 2,497,247 |
Total deposits | 3,930,775 | 3,139,376 |
Borrowings | 436,233 | 550,384 |
Subordinated debentures | 56,194 | 37,837 |
Interest payable | 3,005 | 2,031 |
Other liabilities | 46,014 | 25,068 |
Total liabilities | 4,472,221 | 3,754,696 |
Commitments and contingent liabilities | ||
Stockholders' Equity | ||
Preferred stock, Authorized, 1,000,000 shares, Issued 0 shares | ||
Common stock, no par value, Authorized 99,000,000 shares (Restated - See Note 1) Issued 45,086,441 and 38,400,476 shares (Restated - See Note 1), Outstanding 45,061,372 and 38,375,407 shares (Restated - See Note 1) | ||
Additional paid-in capital | 380,735 | 276,101 |
Retained earnings | 241,519 | 224,035 |
Accumulated other comprehensive income (loss) | 4,207 | (8,144) |
Total stockholders' equity | 626,461 | 491,992 |
Total liabilities and stockholders' equity | $ 5,098,682 | $ 4,246,688 |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
Statement of Financial Position [Abstract] | ||
Investment securities, held to maturity fair value | $ 219,891 | $ 208,273 |
Allowance for loan losses | $ 18,305 | $ 17,820 |
Preferred stock, shares authorized | 1,000,000 | 1,000,000 |
Preferred stock, shares issued | 0 | 0 |
Common stock, par value | $ 0 | $ 0 |
Common stock, shares authorized | 99,000,000 | 99,000,000 |
Common stock, shares issued | 45,086,441 | 38,400,476 |
Common stock, shares outstanding | 45,061,372 | 38,375,407 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Income - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Interest Income | ||||
Loans receivable | $ 47,784 | $ 36,308 | $ 87,407 | $ 71,439 |
Investment securities | ||||
Taxable | 3,273 | 2,563 | 6,395 | 4,993 |
Tax exempt | 2,793 | 1,870 | 5,421 | 3,735 |
Total interest income | 53,850 | 40,741 | 99,223 | 80,167 |
Interest Expense | ||||
Deposits | 8,938 | 3,920 | 15,814 | 6,791 |
Borrowed funds | 2,495 | 2,679 | 6,116 | 5,251 |
Subordinated debentures | 888 | 592 | 1,484 | 1,164 |
Total interest expense | 12,321 | 7,191 | 23,414 | 13,206 |
Net Interest Income | 41,529 | 33,550 | 75,809 | 66,961 |
Provision for loan losses | 896 | 635 | 1,260 | 1,202 |
Net Interest Income after Provision for Loan Losses | 40,633 | 32,915 | 74,549 | 65,759 |
Non-interest Income | ||||
Service charges on deposit accounts | 2,480 | 1,907 | 4,357 | 3,795 |
Wire transfer fees | 167 | 180 | 285 | 330 |
Interchange fees | 2,160 | 1,555 | 3,521 | 2,883 |
Fiduciary activities | 2,063 | 1,818 | 4,152 | 3,743 |
Gains (losses) on sale of investment securities (includes $(100) and $0 for the three months ended June 30, 2019 and 2018, respectively, and $(85) and $11 for the six months ended June 30, 2019 and six months ended June 30, 2018 related to accumulated other comprehensive earnings reclassifications) | (100) | (85) | 11 | |
Gain on sale of mortgage loans | 2,078 | 1,896 | 3,387 | 3,319 |
Mortgage servicing income net of impairment | 570 | 511 | 1,176 | 860 |
Increase in cash value of bank owned life insurance | 555 | 442 | 1,068 | 877 |
Death benefit on bank owned life insurance | 367 | 154 | 367 | 154 |
Other income | 558 | 469 | 1,382 | 1,278 |
Total non-interest income | 10,898 | 8,932 | 19,610 | 17,250 |
Non-interest Expense | ||||
Salaries and employee benefits | 16,951 | 13,809 | 31,417 | 28,182 |
Net occupancy expenses | 3,148 | 2,520 | 5,920 | 5,486 |
Data processing | 2,139 | 1,607 | 4,105 | 3,303 |
Professional fees | 598 | 376 | 1,091 | 877 |
Outside services and consultants | 1,655 | 1,267 | 5,185 | 2,531 |
Loan expense | 2,048 | 1,525 | 3,997 | 2,782 |
FDIC insurance expense | 365 | 345 | 525 | 655 |
Other losses | 169 | 269 | 273 | 415 |
Other expense | 4,511 | 3,224 | 8,809 | 6,548 |
Total non-interest expense | 31,584 | 24,942 | 61,322 | 50,779 |
Income Before Income Taxes | 19,947 | 16,905 | 32,837 | 32,230 |
Income tax expense (includes $(21) and $0 for the three months ended June 30, 2019 and 2018, respectively, and $(18) and $2 for the six months ended June 30, 2019 and six months ended June 30, 2018 related to income tax expense (benefit) from reclassification items) | 3,305 | 2,790 | 5,379 | 5,311 |
Net Income | $ 16,642 | $ 14,115 | $ 27,458 | $ 26,919 |
Basic Earnings Per Share (Restated - See Note 1) | $ 0.37 | $ 0.37 | $ 0.65 | $ 0.70 |
Diluted Earnings Per Share (Restated - See Note 1) | $ 0.37 | $ 0.37 | $ 0.65 | $ 0.70 |
Condensed Consolidated Statem_2
Condensed Consolidated Statements of Income (Parenthetical) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Income Statement [Abstract] | ||||
Accumulated other comprehensive earnings reclassifications | $ (100) | $ 0 | $ (85) | $ 11 |
Income tax expense (benefit) from reclassification | $ (21) | $ 0 | $ (18) | $ 2 |
Condensed Consolidated Statem_3
Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Statement of Comprehensive Income [Abstract] | ||||
Net Income | $ 16,642 | $ 14,115 | $ 27,458 | $ 26,919 |
Change in fair value of derivative instruments: | ||||
Change in fair value of derivative instruments for the period | (1,901) | 354 | (3,007) | 1,113 |
Income tax effect | 399 | (75) | 631 | (234) |
Changes from derivative instruments | (1,502) | 279 | (2,376) | 879 |
Change in securities: | ||||
Unrealized appreciation (depreciation) for the period on AFS securities | 6,933 | (829) | 18,627 | (8,943) |
Amortization from transfer of securities from available for sale to held to maturity securities | (30) | (46) | (68) | (98) |
Reclassification adjustment for securities (gains) losses realized in income | 100 | 0 | 85 | (11) |
Income tax effect | (1,472) | 187 | (3,917) | 1,903 |
Unrealized gains (losses) on securities | 5,531 | (688) | 14,727 | (7,149) |
Other Comprehensive Income (Loss), Net of Tax | 4,029 | (409) | 12,351 | (6,270) |
Comprehensive Income | $ 20,671 | $ 13,706 | $ 39,809 | $ 20,649 |
Condensed Consolidated Statem_4
Condensed Consolidated Statement of Stockholders' Equity - USD ($) $ in Thousands | Total | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Accumulated Other Comprehensive Loss [Member] |
Beginning Balances at Dec. 31, 2017 | $ 457,078 | $ 275,059 | $ 185,570 | $ (3,551) |
Net income | 26,919 | 26,919 | ||
Other comprehensive income (loss), net of tax | (6,270) | (6,270) | ||
Amortization of unearned compensation | (79) | (79) | ||
Exercise of stock options | 444 | 444 | ||
Stock option expense | 163 | 163 | ||
Reclassification of tax adjustment on accumulated other comprehensive loss | 766 | (766) | ||
Cash dividends on common stock | (7,720) | (7,720) | ||
Ending Balances at Jun. 30, 2018 | 470,535 | 275,587 | 205,535 | (10,587) |
Beginning Balances at Mar. 31, 2018 | 460,416 | 275,302 | 195,292 | (10,178) |
Net income | 14,115 | 14,115 | ||
Other comprehensive income (loss), net of tax | (409) | (409) | ||
Amortization of unearned compensation | (140) | (140) | ||
Exercise of stock options | 344 | 344 | ||
Stock option expense | 81 | 81 | ||
Cash dividends on common stock | (3,872) | (3,872) | ||
Ending Balances at Jun. 30, 2018 | 470,535 | 275,587 | 205,535 | (10,587) |
Beginning Balances at Dec. 31, 2018 | 491,992 | 276,101 | 224,035 | (8,144) |
Net income | 27,458 | 27,458 | ||
Other comprehensive income (loss), net of tax | 12,351 | 12,351 | ||
Amortization of unearned compensation | 301 | 301 | ||
Exercise of stock options | 155 | 155 | ||
Stock option expense | 115 | 115 | ||
Stock issued stock plans | 1,341 | 1,341 | ||
Stock issued in Salin acquisition | 102,722 | 102,722 | ||
Cash dividends on common stock | (9,974) | (9,974) | ||
Ending Balances at Jun. 30, 2019 | 626,461 | 380,735 | 241,519 | 4,207 |
Beginning Balances at Mar. 31, 2019 | 609,468 | 378,963 | 230,327 | 178 |
Net income | 16,642 | 16,642 | ||
Other comprehensive income (loss), net of tax | 4,029 | 4,029 | ||
Amortization of unearned compensation | 210 | 210 | ||
Exercise of stock options | 38 | 38 | ||
Stock option expense | 58 | 58 | ||
Stock issued stock plans | 1,466 | 1,466 | ||
Cash dividends on common stock | (5,450) | (5,450) | ||
Ending Balances at Jun. 30, 2019 | $ 626,461 | $ 380,735 | $ 241,519 | $ 4,207 |
Condensed Consolidated Statem_5
Condensed Consolidated Statement of Stockholders' Equity (Parenthetical) - $ / shares | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Cash dividends on common stock, per share | $ 0.12 | $ 0.10 | $ 0.22 | $ 0.20 |
Condensed Consolidated Statem_6
Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2019 | Jun. 30, 2018 | |
Operating Activities | ||
Net income | $ 27,458 | $ 26,919 |
Items not requiring (providing) cash | ||
Provision for loan losses | 1,260 | 1,202 |
Depreciation and amortization | 4,380 | 3,300 |
Share based compensation | 115 | 163 |
Mortgage servicing rights, net impairment | (11) | 24 |
Premium amortization on securities, net | 2,589 | 2,985 |
Loss (gain) on sale of investment securities | 85 | (11) |
Gain on sale of mortgage loans | (3,387) | (3,319) |
Proceeds from sales of loans | 92,314 | 95,218 |
Loans originated for sale | (91,074) | (86,812) |
Change in cash value life insurance | (1,068) | (877) |
Death benefit on bank owned life insurance | 367 | 154 |
Gain on sale of other real estate owned | (11) | (55) |
Net change in: | ||
Interest receivable | (2,288) | 3,251 |
Interest payable | 148 | 555 |
Other assets | 96,042 | (4,241) |
Other liabilities | 7,780 | 7,211 |
Net cash provided by operating activities | 134,699 | 45,667 |
Investing Activities | ||
Purchases of securities available for sale | (176,629) | (84,909) |
Proceeds from sales, maturities, calls and principal repayments of securities available for sale | 165,638 | 55,723 |
Purchases of securities held to maturity | (14,207) | |
Proceeds from maturities of securities held to maturity | 4,551 | 5,517 |
Net change in interest-earning time deposits | 7,654 | (287) |
Change in FHLB stock | (803) | |
Net change in loans | (84,406) | (102,516) |
Proceeds on the sale of OREO and repossessed assets | 1,260 | 794 |
Change in premises and equipment, net | (1,538) | (1,870) |
Net cash provided by (used in) investing activities | 44,472 | (141,755) |
Net change in: | ||
Deposits | 50,049 | 135,160 |
Borrowings | (184,548) | (39,219) |
Proceeds from issuance of stock | 1,496 | 444 |
Dividends paid on common stock | (9,974) | (7,720) |
Net cash provided by (used in) financing activities | (142,977) | 88,665 |
Net Change in Cash and Cash Equivalents | 36,194 | (7,423) |
Cash and Cash Equivalents at Beginning of Year | 58,492 | 76,441 |
Cash and Cash Equivalents at End of Year | 94,686 | 69,018 |
Additional Supplemental Information | ||
Interest paid | 22,440 | 12,651 |
Income taxes paid | 1,300 | 3,966 |
Transfer of loans to other real estate and repossessed assets | 1,213 | $ 733 |
Transfer of premises to other real estate | 1,564 | |
Right-of-use assets exchanged for lease obligations | 3,411 | |
Salin Bank and Trust Company [Member] | ||
Investing Activities | ||
Net cash received in acquisition, Salin | $ 128,745 |
Accounting Policies
Accounting Policies | 6 Months Ended |
Jun. 30, 2019 | |
Accounting Policies [Abstract] | |
Accounting Policies | Note 1 - Accounting Policies The accompanying unaudited condensed consolidated financial statements include the accounts of Horizon Bancorp, Inc. (“Horizon” or the “Company”) and its wholly-owned subsidiaries, including Horizon Bank (“Horizon Bank” or the “Bank”). Horizon Bank (formerly known as “Horizon Bank, N.A.”) was a national association until its conversion to an Indiana commercial bank effective June 23, 2017. All inter-company balances and transactions have been eliminated. The results of operations for the periods ended June 30, 2019 and June 30, 2018 are not necessarily indicative of the operating results for the full year of 2019 or 2018. The accompanying unaudited condensed consolidated financial statements reflect all adjustments that are, in the opinion of Horizon’s management, necessary to fairly present the financial position, results of operations and cash flows of Horizon for the periods presented. Those adjustments consist only of normal recurring adjustments. Certain information and note disclosures normally included in Horizon’s annual financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted. These condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in Horizon’s Annual Report on Form 10-K On May 15, 2018, the Board of Directors of the Company approved a three-for-two no three-for-two three-for-two Basic earnings per share is computed by dividing net income available to common shareholders (net income less dividend requirements for preferred stock and accretion of preferred stock discount) by the weighted-average number of common shares outstanding. Diluted earnings per share reflect the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock. The following table shows computation of basic and diluted earnings per share. Three Months Ended Six Months Ended June 30 June 30 2019 2018 2019 2018 Basic earnings per share Net income $ 16,642 $ 14,115 $ 27,458 $ 26,919 Weighted average common shares outstanding (1) 45,055,117 38,347,612 41,956,047 38,327,118 Basic earnings per share $ 0.37 $ 0.37 $ 0.65 $ 0.70 Diluted earnings per share Net income available to common shareholders $ 16,642 $ 14,115 $ 27,458 $ 26,919 Weighted average common shares outstanding (1) 45,055,117 38,347,612 41,956,047 38,327,118 Effect of dilutive securities: Restricted stock — 47,307 — 37,383 Stock options 75,291 124,482 76,924 119,820 Weighted average common shares outstanding 45,130,408 38,519,401 42,032,971 38,484,321 $ 0.37 $ 0.37 $ 0.65 $ 0.70 (1) Adjusted for 3:2 There were 341,394 and zero non-dilutive. non-dilutive. Horizon has share-based employee compensation plans, which are described in the notes to the financial statements included in the December 31, 2018 Annual Report on Form 10-K. Financial Accounting Standards Board (FASB) Accounting Standards Update (ASU) No. 2017-12, Derivatives and Hedging (Topic 815), Targeted Improvements to Accounting for Hedging Activities The FASB has issued ASU No. 2017-12, Derivatives and Hedging (Topic 815), Targeted Improvements to Accounting for Hedging Activities. 2017-12 FASB Accounting Standards Updates No. 2016-02, Leases The FASB has issued Accounting Standards Update (ASU) No. 2016-02, Leases. right-of-use right-of-use Revenue Recognition Accounting Standards Codification 606, “ Revenue from Contracts with Customers” non-interest • Service charges and fees on deposit accounts – these include general service fees charged for deposit account maintenance and activity and transaction-based fees charged for certain services, such as debit card, wire transfer or overdraft activities. Revenue is recognized when the performance obligation is completed, which is generally after a transaction is completed or monthly for account maintenance services. • Fiduciary activities – this includes periodic fees due from trust and wealth management customers for managing the customers’ financial assets. Fees are charged based on a standard agreement and are recognized as they are earned. Reclassifications Certain reclassifications have been made to the 2018 condensed consolidated financial statements to be comparable to 2019. These reclassifications had no |
Acquisitions
Acquisitions | 6 Months Ended |
Jun. 30, 2019 | |
Business Combinations [Abstract] | |
Acquisitions | Note 2 – Acquisitions Salin Bancshares, Inc. On March 26, 2019, Horizon completed the acquisition of Salin Bancshares, Inc. (“Salin”), an Indiana corporation, and Horizon Bank’s acquisition of Salin Bank and Trust Company (“Salin Bank”), an Indiana commercial bank and wholly-owned subsidiary of Salin, through mergers effective March 26, 2019. Under the terms of the Merger Agreement, shareholders of Salin received 23,907.5 87,417.17 $126.7 million. The Company incurred approximately $5.6 million in costs related to the acquisition. These expenses are classified in the non-interest expense section of the income statement and are primarily located in the data processing, professional fees, outside services and consultants and other expense line items. As a result of the acquisition, the Company was able to increase its deposit base and reduce transaction costs. The Company also expects to reduce costs through economies of scale. Under the acquisition method of accounting, the total purchase price is allocated to net tangible and intangible assets based on their current estimated fair values on the date of the acquisition. Based on preliminary valuations of the fair value of tangible and intangible assets acquired and liabilities assumed, which are based on estimates and assumptions that are subject to change, the preliminary purchase price for the Salin acquisition is detailed in the following table. Final estimates of fair value on the date of acquisition have not been received yet. Prior to the end of the one-year measurement period for finalizing the purchase price allocation, if information becomes available which would indicate adjustments are required to the purchase price allocation, such adjustments will be included in the purchase price allocation prospectively. As a result of updated draft valuation estimates, acquired investment securities decreased approximately $387,000, total loans decreased approximately $2.9 million, premises and equipment decreased approximately $4.2 million, goodwill increased approximately $5.4 million, core deposit intangible decreased approximately $1.3 million, other assets increased approximately $4.0 million, total deposits decreased approximately $117,000 and subordinated debentures increased approximately $816,000 compared to previously reported amounts. Assets Cash and due from banks $ 152,745 Investment securities, available for sale 54,319 Loans Commercial 352,798 Residential mortgage 131,008 Consumer 85,112 Total loans 568,918 Premises and equipment, net 19,700 FRB and FHLB stock 3,571 Goodwill 31,232 Core deposit intangible 19,818 Interest receivable 2,488 Other assets 111,651 Total assets purchased $ 964,442 Common shares issued $ 102,722 Cash paid 24,000 Total purchase price $ 126,722 Liabilities Deposits Non-interest bearing $ 188,744 NOW accounts 207,567 Savings and money market 274,504 Certificates of deposit 70,535 Total deposits 741,350 Borrowings 70,495 Subordinated debentures 18,259 Interest payable 826 Other liabilities 6,790 Total liabilities assumed $ 837,720 Of the total purchase price of $ million, $ million has been allocated to core deposit intangible. Additionally, $ million has been allocated to goodwill and none of the purchase price is deductible. The core deposit intangible is being amortized over years on a straight line basis. The Company acquired various loans in the acquisition that had evidence of deterioration of credit quality since origination and it was probable, at acquisition, that all contractually required payments would not be collected. Loans purchased 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 non-accrual loan-to-value 310-30) The following table details an estimate of the acquired loans that are accounted for in accordance with ASC 310-30 Contractually required principal and interest at acquisition $ 22,672 Contractual cash flows not expected to be collected (nonaccretable differences) 6,694 Expected cash flows at acquisition 15,978 Interest component of expected cash flows (accretable discount) 735 Fair value of acquired loans accounted for under ASC 310-30 $ 15,243 Estimates of certain loans, those for which specific credit-related deterioration since origination, are recorded at fair value, reflecting the present value of the amounts expected to be collected. Income recognition of these loans is based on reasonable expectation about the timing and amount of cash flows to be collected. The results of operations of Salin have been included in the Company’s consolidated financial statements since the acquisition date. The following schedule includes pro-forma Three Months Ended Six Months Ended June 30 June 30 June 30 2019 2018 2019 2018 Summary of Operations: Net Interest Income $ 41,529 $ 41,066 $ 83,711 $ 81,685 Provision for Loan Losses 896 835 1,560 2,002 Net Interest Income after Provision for Loan Losses 40,633 40,231 82,151 79,683 Non-interest 10,898 10,842 20,024 20,841 Non-interest 31,584 32,410 73,736 65,579 Income before Income Taxes 19,947 18,663 28,439 34,945 Income Tax Expense 3,305 2,733 5,322 5,198 Net Income 16,642 15,930 23,117 29,747 Net Income Available to Common Shareholders $ 16,642 $ 15,930 $ 23,117 $ 29,747 Basic Earnings per Share $ 0.37 $ 0.42 $ 0.51 $ 0.78 Diluted Earnings per Share $ 0.37 $ 0.41 $ 0.51 $ 0.77 The pro-forma The pro-forma |
Securities
Securities | 6 Months Ended |
Jun. 30, 2019 | |
Investments, Debt and Equity Securities [Abstract] | |
Securities | Note 3 – Securities The fair value of securities is as follows: June 30, 2019 Amortized Gross Gross Fair Available for sale U.S. Treasury and federal agencies $ 9,915 $ 2 $ (16 ) $ 9,901 State and municipal 253,201 8,090 (1,126 ) 260,165 Federal agency collateralized mortgage obligations 229,166 2,878 (522 ) 231,522 Federal agency mortgage-backed pools 153,378 818 (673 ) 153,523 Corporate notes 17,608 700 — 18,308 Total available for sale investment securities $ 663,268 $ 12,488 $ (2,337 ) $ 673,419 Held to maturity State and municipal $ 195,719 $ 6,196 $ (220 ) $ 201,695 Federal agency collateralized mortgage obligations 4,884 12 (19 ) 4,877 Federal agency mortgage-backed pools 13,165 167 (13 ) 13,319 Total held to maturity investment securities $ 213,768 $ 6,375 $ (252 ) $ 219,891 December 31, 2018 Amortized Gross Gross Fair Available for sale U.S. Treasury and federal agencies $ 16,815 $ 1 $ (208 ) $ 16,608 State and municipal 210,386 1,495 (2,578 ) 209,303 Federal agency collateralized mortgage obligations 187,563 625 (3,185 ) 185,003 Federal agency mortgage-backed pools 183,479 80 (4,823 ) 178,736 Corporate notes 10,666 107 (75 ) 10,698 Total available for sale investment securities $ 608,909 $ 2,308 $ (10,869 ) $ 600,348 Held to maturity State and municipal $ 191,269 $ 1,773 $ (3,366 ) $ 189,676 Federal agency collateralized mortgage obligations 5,144 6 (120 ) 5,030 Federal agency mortgage-backed pools 13,699 74 (206 ) 13,567 Total held to maturity investment securities $ 210,112 $ 1,853 $ (3,692 ) $ 208,273 Based on evaluation of available evidence, including recent changes in market interest rates, credit rating information, and information obtained from regulatory filings, management believes the declines in fair value for these securities are temporary. While these securities are held in the available for sale portfolio and held-to-maturity, 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 net income in the period the other-than-temporary impairment is identified. At June 30, 2019, no individual investment security had an unrealized loss that was determined to be other-than-temporary. The unrealized losses on the Company’s investments in securities of state and municipal governmental agencies, U.S. Treasury and federal agencies, federal agency collateralized mortgage obligations, and federal agency mortgage-backed pools were caused by interest rate volatility and not a decline in credit quality. The contractual terms of those investments do not permit the issuer to settle the securities at a price less than the amortized cost basis of the investments. The Company expects to recover the amortized cost basis over the term of the securities. Because the Company does not intend to sell the investments and it is not likely that the Company will be required to sell the investments before recovery of their amortized cost basis, which may be at maturity, the Company did not consider those investments to be other-than-temporarily impaired at June 30, 2019. The amortized cost and fair value of securities available for sale and held to maturity at June 30, 2019 and December 31, 2018, by contractual maturity, are shown below. Expected maturities will differ from contractual maturities because issuers may have the right to call or prepay obligations with or without call or prepayment penalties. June 30, 2019 December 31, 2018 Amortized Fair Amortized Fair Available for sale Within one year $ 26,850 $ 26,836 $ 20,532 $ 20,448 One to five years 40,560 40,333 42,476 41,705 Five to ten years 88,574 92,128 107,839 107,107 After ten years 124,740 129,077 67,020 67,349 280,724 288,374 237,867 236,609 Federal agency collateralized mortgage obligations 229,166 231,522 187,563 185,003 Federal agency mortgage-backed pools 153,378 153,523 183,479 178,736 Total available for sale investment securities $ 663,268 $ 673,419 $ 608,909 $ 600,348 Held to maturity Within one year $ 2,481 $ 2,499 $ 70 $ 70 One to five years 56,121 57,124 48,732 49,324 Five to ten years 101,195 104,168 101,809 101,533 After ten years 35,922 37,904 40,658 38,749 195,719 201,695 191,269 189,676 Federal agency collateralized mortgage obligations 4,884 4,877 5,144 5,030 Federal agency mortgage-backed pools 13,165 13,319 13,699 13,567 Total held to maturity investment securities $ 213,768 $ 219,891 $ 210,112 $ 208,273 The following table shows the gross unrealized losses and the fair value of the Company’s investments, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position. June 30, 2019 Less than 12 Months 12 Months or More Total Fair Unrealized Fair Unrealized Fair Unrealized Investment Securities U.S. Treasury and federal agencies $ — $ — $ 3,399 $ (16 ) $ 3,399 $ (16 ) State and municipal 72,943 (1,039 ) 16,097 (307 ) 89,040 (1,346 ) Federal agency collateralized mortgage obligations 3,706 (1 ) 52,991 (540 ) 56,697 (541 ) Federal agency mortgage-backed pools 1,671 (1 ) 78,972 (685 ) 80,643 (686 ) Total temporarily impaired securities $ 78,320 $ (1,041 ) $ 151,459 $ (1,548 ) $ 229,779 $ (2,589 ) December 31, 2018 Less than 12 Months 12 Months or More Total Fair Unrealized Fair Unrealized Fair Unrealized Investment Securities U.S. Treasury and federal agencies $ — $ — $ 9,707 $ (208 ) $ 9,707 $ (208 ) State and municipal 75,163 (1,628 ) 106,335 (4,316 ) 181,498 (5,944 ) Federal agency collateralized mortgage obligations 6,450 (25 ) 106,257 (3,280 ) 112,707 (3,305 ) Federal agency mortgage-backed pools 5,739 (39 ) 175,865 (4,990 ) 181,604 (5,029 ) Corporate notes 5,263 (75 ) — — 5,263 (75 ) Total temporarily impaired securities $ 92,615 $ (1,767 ) $ 398,164 $ (12,794 ) $ 490,779 $ (14,561 ) Information regarding security proceeds, gross gains and gross losses are presented below. Three Months Ended Six Months Ended June 30 June 30 2019 2018 2019 2018 Sales of securities available for sale Proceeds $ 74,048 $ — $ 91,635 $ 9,836 Gross gains 99 — 158 37 Gross losses (199 ) — (243 ) (26 ) |
Loans
Loans | 6 Months Ended |
Jun. 30, 2019 | |
Receivables [Abstract] | |
Loans | Note 4 Loans June 30 December 31 2019 2018 Commercial Working capital and equipment $ 917,533 $ 804,083 Real estate, including agriculture 1,017,138 834,037 Tax exempt 61,015 48,975 Other 66,937 34,495 Total 2,062,623 1,721,590 Real estate 1-4 806,390 659,754 Other 7,675 8,387 Total 814,065 668,141 Consumer Auto 343,876 327,413 Recreation 16,257 13,975 Real estate/home improvement 44,988 39,587 Home equity 239,358 163,209 Unsecured 7,455 4,043 Other 2,618 1,254 Total 654,552 549,481 Mortgage warehouse 133,428 74,120 Total loans 3,664,668 3,013,332 Allowance for loan losses (18,305 ) (17,820 ) Loans, net $ 3,646,363 $ 2,995,512 Commercial Commercial loans are primarily based on the identified cash flows of the borrower and, secondarily, on the underlying collateral provided by the borrower. The cash flows of borrowers, however, may not be as expected, and the collateral securing these loans may fluctuate in value. Most commercial loans are secured by the assets being financed or other business assets, such as accounts receivable or inventory, and may incorporate a personal guarantee; however, some short-term loans may be made on an unsecured basis. In the case of loans secured by accounts receivable, the availability of funds for the repayment of these loans may be substantially dependent on the ability of the borrower to collect amounts due from its customers. Commercial real estate loans are viewed primarily as cash flow loans and, secondarily, as loans secured by real estate. Commercial real estate lending typically involves larger loan principal amounts and the repayment of these loans is generally dependent on the successful operation of the property securing the loan or the business conducted on the property securing the loan. Commercial real estate loans may be more adversely affected by conditions in the real estate markets, the general economy, or fluctuations in interest rates. The properties securing the Company’s commercial real estate portfolio are diverse in terms of property type, and are monitored for concentrations of credit. Management monitors and evaluates commercial real estate loans based on collateral, cash flow, and risk grade criteria. As a general rule, the Company avoids financing single purpose projects unless other underwriting factors are present to help mitigate risk. In addition, management tracks the level of owner-occupied commercial real estate loans versus non-owner Real Estate and Consumer With respect to residential loans that are secured by 1-4 loan-to-value 1-4 Mortgage Warehousing Horizon’s mortgage warehouse lending has specific mortgage companies as customers of Horizon Bank. Individual mortgage loans originated by these mortgage companies are funded as a secured borrowing with a pledge of collateral under Horizon’s agreement with the mortgage company. Each mortgage loan funded by Horizon undergoes an underwriting review by Horizon to the end investor guidelines and is assigned to Horizon until the loan is sold to the secondary market by the mortgage company. In addition, Horizon takes possession of each original note and forwards such note to the end investor once the mortgage company has sold the loan. At the time a loan is transferred to the secondary market, the mortgage company reacquires the loan under its option within the agreement. Due to the reacquire feature contained in the agreement, the transaction does not qualify as a sale and therefore is accounted for as a secured borrowing with a pledge of collateral pursuant to the agreement with the mortgage company. When the individual loan is sold to the end investor by the mortgage company, the proceeds from the sale of the loan are received by Horizon and used to pay off the loan balance with Horizon along with any accrued interest and any related fees. The remaining balance from the sale is forwarded to the mortgage company. These individual loans typically are sold by the mortgage company within 30 days and are seldom held more than 90 days. Interest income is accrued during this period and collected at the time each loan is sold. Fee income for each loan sold is collected when the loan is sold, and no costs are deferred due to the term between each loan funding and related payoff, which is typically less than 30 days. Based on the agreements with each mortgage company, at any time a mortgage company can reacquire from Horizon its outstanding loan balance on an individual mortgage and regain possession of the original note. Horizon also has the option to request that the mortgage company reacquire an individual mortgage. Should this occur, Horizon would return the original note and reassign the assignment of the mortgage to the mortgage company. Also, in the event that the end investor would not be able to honor the purchase commitment and the mortgage company would not be able to reacquire its loan on an individual mortgage, Horizon would be able to exercise its rights under the agreement. The following table shows the recorded investment of individual loan categories. June 30, 2019 Loan Interest Deferred Recorded Owner occupied real estate $ 709,597 $ 1,253 $ (1,584 ) $ 709,266 Non-owner 783,092 1,464 (1,701 ) 782,855 Residential spec homes 14,862 36 (24 ) 14,874 Development & spec land 41,102 179 71 41,352 Commercial and industrial 518,880 4,806 (1,672 ) 522,014 Total commercial 2,067,533 7,738 (4,910 ) 2,070,361 Residential mortgage 798,813 2,521 (7,151 ) 794,183 Residential construction 22,403 57 — 22,460 Mortgage warehouse 133,428 480 — 133,908 Total real estate 954,644 3,058 (7,151 ) 950,551 Direct installment 46,468 156 808 47,432 Indirect installment 329,773 806 — 330,579 Home equity 275,396 1,505 2,107 279,008 Total consumer 651,637 2,467 2,915 657,019 Total loans 3,673,814 13,263 (9,146 ) 3,677,931 Allowance for loan losses (18,305 ) — — (18,305 ) Net loans $ 3,655,509 $ 13,263 $ (9,146 ) $ 3,659,626 December 31, 2018 Loan Interest Deferred Recorded Owner occupied real estate $ 561,463 $ 1,240 $ (1,629 ) $ 561,074 Non-owner 717,814 1,063 (1,839 ) 717,038 Residential spec homes 5,199 13 (2 ) 5,210 Development & spec land 46,547 131 (12 ) 46,666 Commercial and industrial 394,346 3,149 (297 ) 397,198 Total commercial 1,725,369 5,596 (3,779 ) 1,727,186 Residential mortgage 646,136 1,861 (2,025 ) 645,972 Residential construction 24,030 42 — 24,072 Mortgage warehouse 74,120 480 — 74,600 Total real estate 744,286 2,383 (2,025 ) 744,644 Direct installment 38,173 103 566 38,842 Indirect installment 314,177 738 — 314,915 Home equity 194,766 973 1,799 197,538 Total consumer 547,116 1,814 2,365 551,295 Total loans 3,016,771 9,793 (3,439 ) 3,023,125 Allowance for loan losses (17,820 ) — — (17,820 ) Net loans $ 2,998,951 $ 9,793 $ (3,439 ) $ 3,005,305 |
Accounting for Certain Loans Ac
Accounting for Certain Loans Acquired in a Transfer | 6 Months Ended |
Jun. 30, 2019 | |
Transfers and Servicing [Abstract] | |
Accounting for Certain Loans Acquired in a Transfer | Note 5 – Accounting for Certain Loans Acquired in a Transfer The Company has acquired loans in acquisitions, whereby the transferred loans had evidence of deterioration of credit quality since origination and it was probable, at acquisition, that all contractually required payments would not be collected. Loans purchased 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 non-accrual loan-to-value 310-30) The carrying amounts of those loans included in the balance sheet amounts of loans receivable are as follows: June 30, 2019 Commercial Real Estate Consumer Outstanding Allowance Carrying Heartland $ 217 $ 152 $ — $ 369 $ — $ 369 Summit 213 515 — 728 — 728 Peoples 249 40 — 289 — 289 Kosciusko 672 148 — 820 195 625 LaPorte 663 818 24 1,505 — 1,505 Lafayette 2,002 — — 2,002 — 2,002 Wolverine 5,606 — — 5,606 19 5,587 Salin 8,075 1,855 1,096 11,026 — 11,026 Total $ 17,697 $ 3,528 $ 1,120 $ 22,345 $ 214 $ 22,131 December 31, 2018 Commercial Real Estate Consumer Outstanding Allowance Carrying Heartland $ 232 $ 175 $ — $ 407 $ — $ 407 Summit 323 555 — 878 — 878 Peoples 270 58 — 328 — 328 Kosciusko 746 155 — 901 — 901 LaPorte 753 947 27 1,727 60 1,667 Lafayette 3,080 — — 3,080 — 3,080 Wolverine 7,841 — — 7,841 — 7,841 Total $ 13,245 $ 1,890 $ 27 $ 15,162 $ 60 $ 15,102 Accretable yield, or income expected to be collected for the six months ended June 30, is as follows: Six Months Ended June 30, 2019 Beginning Additions Accretion Reclassification Disposals Ending Heartland $ 174 $ — $ (16 ) $ — $ — $ 158 Summit 42 — (5 ) — (11 ) 26 Kosciusko 300 — (33 ) — (1 ) 266 LaPorte 829 — (59 ) — — 770 Lafayette 609 — (67 ) — (180 ) 362 Wolverine 698 — (212 ) — (120 ) 366 Salin — 735 — — — 735 Total $ 2,652 $ 735 $ (392 ) $ — $ (312 ) $ 2,683 Six Months Ended June 30, 2018 Beginning Additions Accretion Reclassification Disposals Ending Heartland $ 452 $ — $ (68 ) $ — $ (193 ) $ 191 Summit 147 — (34 ) — (6 ) 107 Kosciusko 386 — (40 ) — — 346 LaPorte 980 — (75 ) — (7 ) 898 Lafayette 933 — (176 ) — (2 ) 755 Wolverine 2,267 — (538 ) — (680 ) 1,049 Total $ 5,165 $ — $ (931 ) $ — $ (888 ) $ 3,346 During the six months ended June 30, 2019 and 2018, the Company increased the allowance for loan losses on purchased loans by a charge to the income statement of $154,000 and zero , respectively. |
Allowance for Loan Losses
Allowance for Loan Losses | 6 Months Ended |
Jun. 30, 2019 | |
Receivables [Abstract] | |
Allowance for Loan Losses | Note 6 – Allowance for Loan Losses The historical loss experience is determined by portfolio segment and is based on the actual loss history experienced by the Company over the prior one Three Months Ended Six Months Ended June 30 June 30 2019 2018 2019 2018 (Unaudited) (Unaudited) (Unaudited) (Unaudited) Balance at beginning of the period $ 17,821 $ 16,474 $ 17,820 $ 16,394 Loans charged-off: Commercial Owner occupied real estate 336 — 337 13 Non-owner — — 64 — Residential spec homes 3 — 3 — Development & spec land — — — — Commercial and industrial — — 12 — Total commercial 339 — 416 13 Real estate Residential mortgage 48 3 48 15 Residential construction — — — — Mortgage warehouse — — — — Total real estate 48 3 48 15 Consumer Direct installment 37 49 65 104 Indirect installment 251 365 791 870 Home equity 39 — 55 131 Total consumer 327 414 911 1,105 Total loans charged-off 714 417 1,375 1,133 Recoveries of loans previously charged-off: Commercial Owner occupied real estate — — — 12 Non-owner 4 12 10 17 Residential spec homes 1 2 3 4 Development & spec land — — — — Commercial and industrial 69 26 77 58 Total commercial 74 40 90 91 Real estate Residential mortgage 7 5 34 11 Residential construction — — — — Mortgage warehouse — — — — Total real estate 7 5 34 11 Consumer Direct installment 75 21 86 32 Indirect installment 182 132 383 271 Home equity (36 ) 181 7 203 Total consumer 221 334 476 506 Total loan recoveries 302 379 600 608 Net loans charged-off 412 38 775 525 Provision charged to operating expense Commercial 590 985 1,712 (306 ) Real estate 211 (117 ) 104 (369 ) Consumer 95 (233 ) (556 ) 1,877 Total provision charged to operating expense 896 635 1,260 1,202 Balance at the end of the period $ 18,305 $ 17,071 $ 18,305 $ 17,071 Certain loans are individually evaluated for impairment, and the Company’s general practice is to proactively charge down impaired loans to the fair value of the underlying collateral, which is the appraised value less estimated selling costs. 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 charges-off charge-off The Company charges-off 1-4 1-4 charges-off open-end The following table presents the balance in the allowance for loan losses and the recorded investment in loans by portfolio segment and based on impairment analysis: June 30, 2019 Commercial Real Estate Mortgage Consumer Total Allowance For Loan Losses Ending allowance balance attributable to loans: Individually evaluated for impairment $ 787 $ — $ — $ — $ 787 Collectively evaluated for impairment 11,094 1,732 1,040 3,652 17,518 Loans acquired with deteriorated credit quality — — — — — Total ending allowance balance $ 11,881 $ 1,732 $ 1,040 $ 3,652 $ 18,305 Loans: Individually evaluated for impairment $ 8,641 $ — $ — $ — $ 8,641 Collectively evaluated for impairment 2,058,892 821,216 133,428 651,637 3,665,173 Loans acquired with deteriorated credit quality — — — — — Total ending loans balance $ 2,067,533 $ 821,216 $ 133,428 $ 651,637 $ 3,673,814 December 31, 2018 Commercial Real Estate Mortgage Consumer Total Allowance For Loan Losses Ending allowance balance attributable to loans: Individually evaluated for impairment $ 1,035 $ — $ — $ — $ 1,035 Collectively evaluated for impairment 9,460 1,676 1,006 4,643 16,785 Loans acquired with deteriorated credit quality — — — — — Total ending allowance balance $ 10,495 $ 1,676 $ 1,006 $ 4,643 $ 17,820 Loans: Individually evaluated for impairment $ 6,708 $ — $ — $ — $ 6,708 Collectively evaluated for impairment 1,718,661 670,166 74,120 547,116 3,010,063 Loans acquired with deteriorated credit quality — — — — — Total ending loans balance $ 1,725,369 $ 670,166 $ 74,120 $ 547,116 $ 3,016,771 |
Non-performing Loans and Impair
Non-performing Loans and Impaired Loans | 6 Months Ended |
Jun. 30, 2019 | |
Text Block [Abstract] | |
Non-performing Loans and Impaired Loans | Note 7 – Non-performing The following table presents the non-accrual, June 30, 2019 Non-accrual Loans Past Non-peforming Performing Total Non-performing Commercial Owner occupied real estate $ 3,694 $ 63 $ 389 $ 139 $ 4,285 Non-owner 616 — 635 — 1,251 Residential spec homes — — — — — Development & spec land 140 — — — 140 Commercial and industrial 3,021 — — — 3,021 Total commercial 7,471 63 1,024 139 8,697 Real estate Residential mortgage 4,219 77 416 1,732 6,444 Residential construction — — — — — Mortgage warehouse — — — — — Total real estate 4,219 77 416 1,732 6,444 Consumer Direct installment 36 — — — 36 Indirect installment 1,129 156 — — 1,285 Home equity 1,909 95 136 327 2,467 Total consumer 3,074 251 136 327 3,788 Total $ 14,764 $ 391 $ 1,576 $ 2,198 $ 18,929 December 31, 2018 Non-accrual Loans Past Non-peforming Performing Total Non-performing Commercial Owner occupied real estate $ 3,413 $ — $ — $ 109 $ 3,522 Non-owner 554 — 492 — 1,046 Residential spec homes — — — — — Development & spec land 68 — — — 68 Commercial and industrial 2,059 208 — — 2,267 Total commercial 6,094 208 492 109 6,903 Real estate Residential mortgage 2,846 180 423 1,558 5,007 Residential construction — — — — — Mortgage warehouse — — — — — Total real estate 2,846 180 423 1,558 5,007 Consumer Direct installment 35 — — — 35 Indirect installment 916 173 — — 1,089 Home equity 1,657 7 142 335 2,141 Total consumer 2,608 180 142 335 3,265 Total $ 11,548 $ 568 $ 1,057 $ 2,002 $ 15,175 Included in the $14.8 million of non-accrual non-performing From time to time, the Bank obtains information that may lead management to believe that the collection of payments may be doubtful on a particular loan. In recognition of this, it is management’s policy to convert the loan from an “earning asset” to a non-accruing non-accrual non-accrual non-accrual Non-accrual non-accrual A loan becomes impaired when, based on current information, it is probable that a creditor will be unable to collect all amounts due according to the contractual terms of the loan agreement. When a loan is classified as impaired, the degree of impairment must be recognized by estimating future cash flows from the debtor. The present value of these cash flows is computed at a discount rate based on the interest rate contained in the loan agreement. However, if a particular loan has a determinable market value for its collateral, the creditor may use that value. Also, if the loan is secured and considered collateral dependent, the creditor may use the fair value of the collateral. Interest income on loans individually classified as impaired is recognized on a cash basis after all past due and current principal payments have been made. Smaller-balance, homogeneous loans are evaluated for impairment in total. Such loans include residential first mortgage loans secured by 1–4 family residences, residential construction loans, automobile, home equity, second mortgage loans and mortgage warehouse loans. Commercial loans and mortgage loans secured by other properties are evaluated individually for impairment. When analysis of borrower operating results and financial condition indicate that underlying cash flows of a borrower’s business are not adequate to meet its debt service requirements, the loan is evaluated for impairment. Often this is associated with a delay or shortfall in payments of 30 days or more. Loans are generally moved to non-accrual Loans for which it is probable that the Company will not collect all principal and interest due according to contractual terms, including TDRs, are measured for impairment. Allowable methods for determining the amount of impairment include the three methods described above. The Company’s TDRs are considered impaired loans and included in the allowance methodology using the guidance for impaired loans. At June 30, 2019, the type of concessions the Company has made on restructured loans has been temporary rate reductions and/or reductions in monthly payments and there have been no restructured loans with modified recorded balances. Any modification to a loan that is a concession and is not in the normal course of lending is considered a restructured loan. A restructured loan is returned to accruing status after six consecutive payments but is still reported as TDR unless the loan bears interest at a market rate. As of June 30, 2019, the Company had $3.8 million in TDRs and $2.2 million were performing according to the restructured terms and no The following table presents commercial loans individually evaluated for impairment by class of loan: June 30, 2019 Three Months Ended Six Months Ended Unpaid Recorded Allowance for Average Cash/Accrual Average Cash/Accrual With no recorded allowance Commercial Owner occupied real estate $ 3,851 $ 3,851 $ — $ 5,987 $ 76 $ 6,005 $ 130 Non-owner 1,116 1,143 — 1,260 33 1,293 64 Residential spec homes — — — — — — — Development & spec land 140 139 — 226 2 224 2 Commercial and industrial 1,797 1,778 — 2,073 15 2,078 22 Total commercial 6,904 6,911 — 9,546 126 9,600 218 With an allowance recorded Commercial Owner occupied real estate 371 371 3 372 10 365 10 Non-owner 135 135 40 135 — 135 — Residential spec homes — — — — — — — Development & spec land — — — — — — — Commercial and industrial 1,224 1,224 744 1,252 25 1,258 25 Total commercial 1,730 1,730 787 1,759 35 1,758 35 Total $ 8,634 $ 8,641 $ 787 $ 11,305 $ 161 $ 11,358 $ 253 June 30, 2018 Three Months Ended Six Months Ended Unpaid Recorded Allowance for Average Cash/Accrual Average Cash/Accrual With no recorded allowance Commercial Owner occupied real estate $ 4,765 $ 4,762 $ — $ 5,271 $ 59 $ 5,303 $ 96 Non-owner 1,344 1,360 — 1,591 5 1,559 10 Residential spec homes — — — — — — — Development & spec land 72 70 — 71 — 73 — Commercial and industrial 1,943 1,943 — 1,916 7 1,886 7 Total commercial 8,124 8,135 — 8,849 71 8,821 113 With an allowance recorded Commercial Owner occupied real estate 864 864 184 871 — 885 — Non-owner — — — — — — — Residential spec homes — — — — — — — Development & spec land — — — — — — — Commercial and industrial — — — — — — — Total commercial 864 864 184 871 — 885 — Total $ 8,988 $ 8,999 $ 184 $ 9,720 $ 71 $ 9,706 $ 113 The following table presents the payment status by class of loan: June 30, 2019 Current 30-59 60-89 90 Days or Non-accrual Total Past Due Non-accrual Total Commercial Owner occupied real estate $ 705,186 $ 265 $ — $ 63 $ 4,083 $ 4,411 $ 709,597 Non-owner 781,012 829 — — 1,251 2,080 783,092 Residential spec homes 14,862 — — — — — 14,862 Development & spec land 40,509 453 — — 140 593 41,102 Commercial and industrial 513,126 2,234 499 — 3,021 5,754 518,880 Total commercial 2,054,695 3,781 499 63 8,495 12,838 2,067,533 Real estate Residential mortgage 791,704 2,272 125 77 4,635 7,109 798,813 Residential construction 22,403 — — — — — 22,403 Mortgage warehouse 133,428 — — — — — 133,428 Total real estate 947,535 2,272 125 77 4,635 7,109 954,644 Consumer Direct installment 46,203 180 49 — 36 265 46,468 Indirect installment 326,970 1,268 250 156 1,129 2,803 329,773 Home equity 272,047 640 569 95 2,045 3,349 275,396 Total consumer 645,220 2,088 868 251 3,210 6,417 651,637 Total $ 3,647,450 $ 8,141 $ 1,492 $ 391 $ 16,340 $ 26,364 $ 3,673,814 Percentage of total loans 99.28 % 0.22 % 0.04 % 0.01 % 0.44 % 0.72 % 100.00 % December 31, 2018 Current 30-59 60-89 90 Days or Non-accrual Total Past Due Non-accrual Total Commercial Owner occupied real estate $ 556,516 $ 537 $ 997 $ — $ 3,413 $ 4,947 $ 561,463 Non-owner 716,574 175 19 — 1,046 1,240 717,814 Residential spec homes 4,707 492 — — — 492 5,199 Development & spec land 46,479 — — — 68 68 46,547 Commercial and industrial 390,828 515 736 208 2,059 3,518 394,346 Total commercial 1,715,104 1,719 1,752 208 6,586 10,265 1,725,369 Real estate Residential mortgage 641,500 1,131 56 180 3,269 4,636 646,136 Residential construction 24,030 — — — — — 24,030 Mortgage warehouse 74,120 — — — — — 74,120 Total real estate 739,650 1,131 56 180 3,269 4,636 744,286 Consumer Direct installment 38,027 93 18 — 35 146 38,173 Indirect installment 311,494 1,396 198 173 916 2,683 314,177 Home equity 192,162 761 37 7 1,799 2,604 194,766 Total consumer 541,794 2,250 253 180 2,750 5,433 547,116 Total $ 2,996,548 $ 5,100 $ 2,061 $ 568 $ 12,605 $ 20,334 $ 3,016,771 Percentage of total loans 99.33 % 0.17 % 0.07 % 0.02 % 0.42 % 0.67 % 100.00 % 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. Horizon Bank’s processes for determining credit quality differ slightly depending on whether a new loan or a renewed loan is being underwritten, or whether an existing loan is being re-evaluated • For new and renewed commercial loans, the Bank’s Credit Department, which acts independently of the loan officer, assigns the credit quality grade to the loan. Loan grades for loans with an aggregate credit exposure that exceeds the authorities in the respective markets (ranging from $1,000,000 to $3,500,000) are validated by the Loan Committee, which is chaired by the Chief Commercial Banking Officer (CCBO). • Commercial loan officers are responsible for reviewing their loan portfolios and reporting any adverse material change to the CCBO or Loan Committee. When circumstances warrant a change in the credit quality grade, loan officers are required to notify the CCBO and the Credit Department of the change in the loan grade. Downgrades are accepted immediately by the CCBO, however, lenders must present their factual information to either the Loan Committee or the CCBO when recommending an upgrade. • The CCBO, or his designee, meets regularly with loan officers to discuss the status of past-due • Monthly, senior management meets with the Watch Committee, which reviews all of the past due, classified, and impaired loans and the relative trends of these assets. This committee also reviews the actions taken by management regarding foreclosure mitigation, loan extensions, troubled debt restructures, other real estate owned and personal property repossessions. The information reviewed in this meeting acts as a precursor for developing management’s analysis of the adequacy of the Allowance for Loan and Lease Losses. For residential real estate and consumer loans, Horizon uses a grading system based on delinquency. Loans that are 90 days or more past due, on non-accrual, non-accrual. Risk Grade 1: Excellent (Pass) Loans secured by liquid collateral, such as certificates of deposit, reputable bank letters of credit, or other cash equivalents; loans that are guaranteed or otherwise backed by the full faith and credit of the United States government or an agency thereof, such as the Small Business Administration; or loans to any publicly held company with a current long-term debt rating of A or better. Risk Grade 2: Good (Pass) Loans to businesses that have strong financial statements containing an unqualified opinion from a CPA firm and at least three consecutive years of profits; loans supported by unaudited financial statements containing strong balance sheets, five consecutive years of profits, a five -year satisfactory relationship with the Bank, and key balance sheet and income statement trends that are either stable or positive; loans secured by publicly traded marketable securities where there is no impediment to liquidation; loans to individuals backed by liquid personal assets and unblemished credit history; or loans to publicly held companies with current long-term debt ratings of Baa or better. Risk Grade 3: Satisfactory (Pass) Loans supported by financial statements (audited or unaudited) that indicate average or slightly below average risk and having some deficiency or vulnerability to changing economic conditions; loans with some weakness but offsetting features of other support are readily available; loans that are meeting the terms of repayment, but which may be susceptible to deterioration if adverse factors are encountered. Loans may be graded Satisfactory when there is no recent information on which to base a current risk evaluation and the following conditions apply: • At inception, the loan was properly underwritten, did not • At inception, the loan was secured with collateral possessing a loan value adequate to protect the Bank from loss. • The loan has exhibited two or more years of satisfactory repayment with a reasonable reduction of the principal balance. • During the period that the loan has been outstanding, there has been no evidence of any credit weakness. Some examples of weakness include slow payment, lack of cooperation by the borrower, breach of loan covenants, or the borrower is in an industry known to be experiencing problems. If any of these credit weaknesses is observed, a lower risk grade may be warranted. Risk Grade 4 Satisfactory/Monitored: Loans in this category are considered to be of acceptable credit quality, but contain greater credit risk than Satisfactory loans. Borrower displays acceptable liquidity, leverage, and earnings performance within the Bank’s minimum underwriting guidelines. The level of risk is acceptable but conditioned on the proper level of loan officer supervision. Loans that normally fall into this grade include acquisition, construction and development loans and income producing properties that have not reached stabilization. Risk Grade 4W Management Watch: Loans in this category are considered to be of acceptable quality, but with above normal risk. Borrower displays potential indicators of weakness in the primary source of repayment resulting in a higher reliance on secondary sources of repayment. Balance sheet may exhibit weak liquidity and/or high leverage. There is inconsistent earnings performance without the ability to sustain adverse economic conditions. Borrower may be operating in a declining industry or the property type, as for a commercial real estate loan, may be unstablized, high risk or in decline. These loans require an increased level of loan officer supervision and monitoring to assure that any deterioration is addressed in a timely fashion. Risk Grade 5: Special Mention Loans which possess some credit deficiency or potential weakness which deserves close attention. Such loans pose an unwarranted financial risk that, if not corrected, could weaken the loan by adversely impacting the future repayment ability of the borrower. The key distinctions of a Special Mention classification are that (1) it is indicative of an unwarranted level of risk and (2) weaknesses are considered “potential,” not “defined,” impairments to the primary source of repayment. These loans may be to borrowers with adverse trends in financial performance, collateral value and/or marketability, or balance sheet strength. Risk Grade 6: Substandard One or more of the following characteristics may be exhibited in loans classified Substandard: • Loans which possess a defined credit weakness. The likelihood that a loan will be paid from the primary source of repayment is uncertain. Financial deterioration is under way and very close attention is warranted to ensure that the loan is collected without loss. • Loans are inadequately protected by the current net worth and paying capacity of the obligor. • The primary source of repayment is gone, and the Bank is forced to rely on a secondary source of repayment, such as collateral liquidation or guarantees. • Loans have a distinct possibility that the Bank will sustain some loss if deficiencies are not corrected. • Unusual courses of action are needed to maintain a high probability of repayment. • The borrower is not generating enough cash flow to repay loan principal; however, it continues to make interest payments. • The lender is forced into a subordinated or unsecured position due to flaws in documentation. • Loans have been restructured so that payment schedules, terms, and collateral represent concessions to the borrower when compared to the normal loan terms. Risk Grade 8: Loss Loans are considered uncollectible and of such little value that continuing to carry them as assets is not feasible. Loans will be classified Loss when it is neither practical nor desirable to defer writing off or reserving all or a portion of a basically worthless asset, even though partial recovery may be possible at some time in the future. The following table presents loans by credit grades. June 30, 2019 Pass Special Substandard Doubtful Total Commercial Owner occupied real estate $ 686,630 $ 5,711 $ 17,256 $ — $ 709,597 Non-owner 764,517 13,002 5,573 — 783,092 Residential spec homes 14,862 — — — 14,862 Development & spec land 37,847 97 3,158 — 41,102 Commercial and industrial 482,043 25,214 11,623 — 518,880 Total commercial 1,985,899 44,024 37,610 — 2,067,533 Real estate Residential mortgage 792,446 — 6,367 — 798,813 Residential construction 22,403 — — — 22,403 Mortgage warehouse 133,428 — — — 133,428 Total real estate 948,277 — 6,367 — 954,644 Consumer Direct installment 46,433 — 35 — 46,468 Indirect installment 328,488 — 1,285 — 329,773 Home equity 272,929 — 2,467 — 275,396 Total consumer 647,850 — 3,787 — 651,637 Total $ 3,582,026 $ 44,024 $ 47,764 $ — $ 3,673,814 Percentage of total loans 97.50 % 1.20 % 1.30 % 0.00 % 100.00 % December 31, 2018 Pass Special Substandard Doubtful Total Commercial Owner occupied real estate $ 538,177 $ 6,618 $ 16,668 $ — $ 561,463 Non-owner 702,269 9,682 5,863 — 717,814 Residential spec homes 5,199 — — — 5,199 Development & spec land 46,382 97 68 — 46,547 Commercial and industrial 379,607 6,655 8,084 — 394,346 Total commercial 1,671,634 23,052 30,683 — 1,725,369 Real estate Residential mortgage 641,309 — 4,827 — 646,136 Residential construction 24,030 — — — 24,030 Mortgage warehouse 74,120 — — — 74,120 Total real estate 739,459 — 4,827 — 744,286 Consumer Direct installment 38,138 — 35 — 38,173 Indirect installment 313,088 — 1,089 — 314,177 Home equity 192,625 — 2,141 — 194,766 Total consumer 543,851 — 3,265 — 547,116 Total $ 2,954,944 $ 23,052 $ 38,775 $ — $ 3,016,771 Percentage of total loans 97.95 % 0.76 % 1.29 % 0.00 % 100.00 % |
Leases
Leases | 6 Months Ended |
Jun. 30, 2019 | |
Leases [Abstract] | |
Leases | Note 8 – Leases As of January 1, 2019, when the Company adopted ASU 2016-02 prospectively, the Company began recording operating leases as a right-of-use (“ROU”) asset in other assets and operating lease liability in other liabilities on the consolidated balance sheet. Operating lease ROU assets represent the right to use an underlying asset during the lease term and operating lease liabilities represent our obligation to make lease payments arising from the lease. ROU assets and operating lease liabilities are recognized at lease commencement based on the present value of the remaining lease payments using a discount rate that represents our incremental borrowing rate at the lease commencement date. Operating lease expense, which is comprised of amortization of the ROU asset and the implicit interest accreted on the operating liability, is recognized on a straight-line basis over the lease term, and is recorded primarily in net occupancy expense in the consolidated statements of income. When the Company adopted the guidance on January 1, 2019, it elected the optional alternative transition method permitted by ASU 2018-11 allowing for recognition of applicable leases as of January 1, 2019. Additionally, the Company elected the following accounting policies: • The practical expedient package that forgoes: • Reassessment of any expired or existing contracts for a lease • Reassessment of lease classification for expired or existing leases • Reassessment of initial direct costs for existing leases • The hindsight practical expedient to determine lease term and impairment of ROU assets • Other practical expedients regarding combination of lease and non-lease • The Company did not elect to follow the practical expedients for land easements and the portfolio approach Operating leases relate primarily to bank branches and office space with remaining average lease terms of seven years. The weighted average discount rate utilized to calculate the ROU asset and operating lease liability was approximately 2.57%, which represents the incremental borrowing rate. At inception, the Company recorded a ROU asset and operating lease liability of $3.4 million. At June 30, 2019, a ROU asset of $3.1 million is included in other assets and an operating lease liability of $3.3 million is included in other liabilities. Options to extend a lease were considered in the remaining lease term determination. The lease expense for operating leases was $149,000 for the three months ended June 30, 2019 and $297,000 for the six months ended June 30, 2019. Future minimum operating lease payments under non-cancellable Year Amount 2019 $ 240 2020 476 2021 476 2022 504 2023 and thereafter 1,609 Total lease payments $ 3,305 Less: Interest (175 ) Present value of lease liabilities $ 3,130 |
Repurchase Agreements
Repurchase Agreements | 6 Months Ended |
Jun. 30, 2019 | |
Text Block [Abstract] | |
Repurchase Agreements | Note 9 – Repurchase Agreements The Company transfers various securities to customers in exchange for cash at the end of each business day and agrees to acquire the securities at the end of the next business day for the cash exchanged plus interest. The process is repeated at the end of each business day until the agreement is terminated. The securities underlying the agreement remained under the Bank’s control. The following table shows repurchase agreements accounted for as secured borrowings: June 30, 2019 Remaining Contractual Maturity of the Agreements Overnight Up to one One to three Three to five Five to ten Beyond ten Total Repurchase Agreements and repurchase-to-maturity Repurchase Agreements $ 92,256 $ — $ — $ — $ — $ — $ 92,256 Securities pledged for Repurchase Agreements Federal agency collateralized mortgage obligations $ 36,183 $ — $ — $ — $ — $ — $ 36,183 Federal agency mortgage-backed pools 68,684 — — — — — 68,684 Total $ 104,867 $ — $ — $ — $ — $ — $ 104,867 |
Derivative Financial Instrument
Derivative Financial Instruments | 6 Months Ended |
Jun. 30, 2019 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Derivative Financial Instruments | Note 10 – Derivative Financial Instruments Cash Flow Hedges – The Company assumed additional interest rate swap agreements as the result of the LaPorte acquisition in July 2016. The agreements provide for the Company to receive interest from the counterparty at one month LIBOR and to pay interest to the counterparty at a weighted average fixed rate of 2.31% on a notional amount of $30.0 million at June 30, 2019 and December 31, 2018. Under the agreements, the Company pays or receives the net interest amount monthly, with the monthly settlements included in interest expense. On July 20, 2018, the Company entered into an interest rate swap agreement for an additional portion of its floating rate debt. The agreement provides for the Company to receive interest from the counterparty at one month LIBOR and to pay interest to the counterparty at a rate of 2.81% on a notional amount of $50.0 million at June 30, 2019 Under the agreement, the Company pays or receives the net interest amount monthly, with the monthly settlements included in interest expense. Management has designated the interest rate swap agreement as a cash flow hedging instrument. For derivative instruments that are designated and qualify as a cash flow hedge, the effective portion of the gain or loss on the derivative is reported as a component of other comprehensive income and reclassified into earnings in the same period or periods during which the hedged transaction affects earnings. Gains and losses on the derivative representing either hedge ineffectiveness or hedge components excluded from the assessment of effectiveness are recognized in current earnings. At June 30, 2019, the Company’s cash flow hedge was effective and is not expected to have a significant impact on the Company’s net income over the next 12 months. Fair Value Hedges Fair value hedges are intended to reduce the interest rate risk associated with the underlying hedged item. The Company enters into fixed rate loan agreements as part of its lending policy. To mitigate the risk of changes in fair value based on fluctuations in interest rates, the Company has entered into interest rate swap agreements on individual loans, converting the fixed rate loans to a variable rate. For derivative instruments that are designated and qualify as a fair value hedge, the gain or loss on the derivative as well as the offsetting gain or loss on the hedged item attributable to the hedged risk are recognized in current earnings. At June 30, 2019, the Company’s fair value hedges were effective and are not expected to have a significant impact on the Company’s net income over the next 12 months. The change in fair value of both the hedge instruments and the underlying loan agreements are recorded as gains or losses in interest income. The fair value hedges are considered to be highly effective and any hedge ineffectiveness was deemed not material. The notional amounts of the loan agreements being hedged were $258.2 million at June 30, 2019 and $209.2 million at December 31, 2018. Other Derivative Instruments The Company enters into non-hedging The change in fair value of both the forward sale commitments and commitments to originate mortgage loans were recorded and the net gains or losses included in the Company’s gain on sale of loans. The following tables summarize the fair value of derivative financial instruments utilized by Horizon: Asset Derivatives Liability Derivatives June 30, 2019 June 30, 2019 Balance Sheet Fair Balance Sheet Fair Derivatives designated as hedging instruments Interest rate contracts Loans $ 11,622 Loans $ — Interest rate contracts Other Assets — Other liabilities 16,389 Total derivatives desginated as hedging instruments 11,622 16,389 Derivatives not designated as hedging instruments Mortgage loan contracts Other assets 467 Other liabilities — Total derivatives not designated as hedging instruments 467 — Total derivatives $ 12,089 $ 16,389 Asset Derivatives Liability Derivatives December 31, 2018 December 31, 2018 Balance Sheet Fair Balance Sheet Fair Derivatives designated as hedging instruments Interest rate contracts Loans $ — Loans $ 42 Interest rate contracts Other Assets 42 Other liabilities 1,760 Total derivatives desginated as hedging instruments 42 1,802 Derivatives not designated as hedging instruments Mortgage loan contracts Other assets 135 Other liabilities — Total derivatives not designated as hedging instruments 135 — Total derivatives $ 177 $ 1,802 The effect of the derivative instruments on the condensed consolidated statements of income for the three and six-month periods ending June 30 is as follows: Amount of Loss Recognized in Other Comprehensive Income on Derivative Three Months Ended Six Months Ended June 30, 2019 June 30, 2018 June 30, 2019 June 30, 2018 Derivatives in cash flow hedging relationship Interest rate contracts $ (1,502 ) $ 279 $ (2,376 ) $ 879 FASB Accounting Standards Codification (“ASC”) Topic 820-10-20 820-10-55 Location of gain (loss) recognized on derivative Amount of Gain (Loss) Recognized on Derivative Three Months Ended Six Months Ended June 30, 2019 June 30, 2018 June 30, 2019 June 30, 2018 Derivative in fair value hedging relationship Interest rate contracts Interest income - loans $ (7,529 ) $ 2,768 $ (11,580 ) $ 574 Interest rate contracts Interest income - loans 7,529 (2,768 ) 11,580 (574 ) Total $ — $ — $ — $ — Location of gain (loss) recognized on derivative Amount of Gain (Loss) Recognized on Derivative Three Months Ended Six Months Ended June 30, 2019 June 30, 2018 June 30, 2019 June 30, 2018 Derivative not designated as hedging relationship Mortgage contracts Other income - gain on sale of loans $ 75 $ 112 $ 332 $ 195 |
Disclosures about fair value of
Disclosures about fair value of assets and liabilities | 6 Months Ended |
Jun. 30, 2019 | |
Text Block [Abstract] | |
Disclosures about fair value of assets and liabilities | Note 11 – Disclosures about Fair Value of Assets and Liabilities The Fair Value Measurements topic of the FASB ASC defines fair value, establishes a framework for measuring fair value and expands disclosures about fair value measurements. There are three levels of inputs that may be used to measure fair value: Level 1 Quoted prices in active markets for identical assets or liabilities Level 2 Observable inputs other than Level 1 prices, such as quoted prices for similar assets or liabilities; quoted prices in 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 valuation methodologies used for instruments measured at fair value on a recurring basis and recognized in the accompanying condensed consolidated financial statements, as well as the general classification of such instruments pursuant to the valuation hierarchy. There have been no significant changes in the valuation techniques during the period ended June 30, 2019. For assets classified within Level 3 of the fair value hierarchy, the process used to develop the reported fair value is described below. Available for sale securities When quoted market prices are available in an active market, securities are classified within Level 1 of the valuation hierarchy. If quoted market prices are not available, then fair values are estimated by using pricing models, quoted prices of securities with similar characteristics or discounted cash flows. Level 2 securities include U.S. Treasury and federal agency securities, state and municipal securities, federal agency collateralized mortgage obligations and mortgage-backed pools and corporate notes. Level 2 securities are valued by a third party pricing service commonly used in the banking industry utilizing observable inputs. Observable inputs include dealer quotes, market spreads, cash flow analysis, the U.S. Treasury yield curve, trade execution data, market consensus prepayment spreads and available credit information and the bond’s terms and conditions. The pricing provider utilizes evaluated pricing models that vary based on asset class. These models incorporate available market information including quoted prices of securities with similar characteristics and, because many fixed-income securities do not trade on a daily basis, apply available information through processes such as benchmark curves, benchmarking of like securities, sector grouping, and matrix pricing. In addition, model processes, such as an option adjusted spread model, is used to develop prepayment and interest rate scenarios for securities with prepayment features. Hedged loans Certain fixed rate loans have been converted to variable rate loans by entering into interest rate swap agreements. The fair value of those fixed rate loans is based on discounting the estimated cash flows using interest rates determined by the respective interest rate swap agreement. Loans are classified within Level 2 of the valuation hierarchy based on the unobservable inputs used. Interest rate swap agreements The fair value of the Company’s interest rate swap agreements is estimated by a third party using inputs that are primarily unobservable including a yield curve, adjusted for liquidity and credit risk, contracted terms and discounted cash flow analysis, and therefore, are classified within Level 2 of the valuation hierarchy. The following table presents the fair value measurements of assets and liabilities recognized in the accompanying condensed consolidated financial statements measured at fair value on a recurring basis and the level within the FASB ASC fair value hierarchy in which the fair value measurements fall at the following: June 30, 2019 Fair Value Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Available for sale securities U.S. Treasury and federal agencies $ 9,901 $ — $ 9,901 $ — State and municipal 260,165 — 260,165 — Federal agency collateralized mortgage obligations 231,522 — 231,522 — Federal agency mortgage-backed pools 153,523 — 153,523 — Corporate notes 18,308 — 18,308 — Total available for sale securities 673,419 — 673,419 — Hedged loans 258,180 — 258,180 — Forward sale commitments 467 — 467 — Interest rate swap agreements (16,389 ) — (16,389 ) — Commitments to originate loans — — — — December 31, 2018 Fair Value Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Available for sale securities U.S. Treasury and federal agencies $ 16,608 $ — $ 16,608 $ — State and municipal 209,303 — 209,303 — Federal agency collateralized mortgage obligations 185,003 — 185,003 — Federal agency mortgage-backed pools 178,736 — 178,736 — Corporate notes 10,698 — 10,698 — Total available for sale securities 600,348 — 600,348 — Hedged loans 209,161 — 209,161 — Forward sale commitments 135 — 135 — Interest rate swap agreements (1,801 ) — (1,801 ) — Commitments to originate loans — — — — Realized gains and losses included in net income for the periods are reported in the condensed consolidated statements of income as follows: Non-interest Three Months Ended Six Months Ended Total gains and losses from: June 30, 2019 June 30, 2018 June 30, 2019 June 30, 2018 Hedged loans $ (7,529 ) $ 976 $ (11,580 ) $ 3,744 Fair value interest rate swap agreements 7,529 (976 ) 11,580 (3,744 ) Derivative loan commitments 75 71 332 183 $ 75 $ 71 $ 332 $ 183 Certain other assets are measured at fair value on a non-recurring Fair Value Quoted Prices in (Level 1) Significant Significant (Level 3) June 30, 2019 Impaired loans $ 7,847 $ — $ — $ 7,847 Mortgage servicing rights 13,652 — — 13,652 December 31, 2018 Impaired loans $ 5,661 $ — $ — $ 5,661 Mortgage servicing rights 12,349 — — 12,349 Impaired (collateral dependent): 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. Mortgage Servicing Rights (MSRs): month-end The following table presents qualitative information about unobservable inputs used in recurring and non-recurring June 30, 2019 Fair Valuation Technique Unobservable Inputs Range (Weighted Average) Impaired loans $ 7,847 Collateral based measurement Discount to reflect current market conditions and ultimate collectability 0 100 9.1 Mortgage servicing rights 13,652 Discounted cash flows Discount rate Constant prepayment rate, Probability of default 9.7 10.0 9.8 9.6 19.3 11.0 0.0 1.7 0.7 December 31, 2018 Fair Valuation Technique Unobservable Inputs Range (Weighted Average) Impaired loans $ 5,661 Collateral based measurement Discount to reflect current market conditions and ultimate collectability 0 100 15.5 Mortgage servicing rights 12,349 Discounted cash flows Discount rate Constant prepayment rate, Probability of default 10.2 11.0 10.3 9.1 21.9 9.3 0.1 2.8 0.6 |
Fair Value of Financial Instrum
Fair Value of Financial Instruments | 6 Months Ended |
Jun. 30, 2019 | |
Fair Value Disclosures [Abstract] | |
Fair Value of Financial Instruments | Note 12 – Fair Value of Financial Instruments The estimated fair value amounts of the Company’s financial instruments were determined using available market information, current pricing information applicable to Horizon and various valuation methodologies. Where market quotations were not available, considerable management judgment was involved in the determination of estimated fair values. Therefore, the estimated fair value of financial instruments shown below may not be representative of the amounts at which they could be exchanged in a current or future transaction. Due to the inherent uncertainties of expected cash flows of financial instruments, the use of alternate valuation assumptions and methods could have a significant effect on the estimated fair value amounts. The estimated fair values of financial instruments, as shown below, are not intended to reflect the estimated liquidation or market value of Horizon taken as a whole. The disclosed fair value estimates are limited to Horizon’s significant financial instruments at June 30, 2019 and December 31, 2018. These include financial instruments recognized as assets and liabilities on the condensed consolidated balance sheet as well as certain off-balance The following methods and assumptions were used to estimate the fair value of each class of financial instrument: Cash and Due from Banks Held-to-Maturity Securities Loans Held for Sale Net Loans FHLB Stock Interest Receivable/Payable Deposits Borrowings Subordinated Debentures Commitments to Extend Credit and Standby Letters of Credit The following table presents estimated fair values of the Company’s financial instruments and the level within the fair value hierarchy in which the fair value measurements fall (unaudited). June 30, 2019 Carrying Quoted Prices in (Level 1) Significant Significant (Level 3) Assets Cash and due from banks $ 94,686 $ 94,686 $ — $ — Interest-earning time deposits 8,090 — 8,107 — Investment securities, held to maturity 213,768 — 219,891 — Loans held for sale 3,185 — — 3,185 Loans (excluding loan level hedges), net 3,388,183 — — 3,247,837 Stock in FHLB 22,447 — 22,447 — Interest receivable 19,015 — 19,015 — Liabilities Non-interest $ 810,350 $ 810,350 $ — $ — Interest bearing deposits 3,120,425 — 3,068,227 — Borrowings 436,233 — 433,258 — Subordinated debentures 56,194 — 50,603 — Interest payable 3,005 — 3,005 — December 31, 2018 Carrying Quoted Prices in Significant Significant Assets Cash and due from banks $ 58,492 $ 58,492 $ — $ — Interest-earning time deposits 15,744 — 15,542 — Investment securities, held to maturity 210,112 — 208,273 — Loans held for sale 1,038 — — 1,038 Loans (excluding loan level hedges), net 2,786,351 — — 2,681,741 Stock in FHLB 18,073 — 18,073 — Interest receivable 14,239 — 14,239 — Liabilities Non-interest $ 642,129 $ 642,129 $ — $ — Interest bearing deposits 2,497,247 — 2,377,274 — Borrowings 550,384 — 542,311 — Subordinated debentures 37,837 — 35,711 — Interest payable 2,031 — 2,031 — |
Accumulated Other Comprehensive
Accumulated Other Comprehensive Loss | 6 Months Ended |
Jun. 30, 2019 | |
Equity [Abstract] | |
Accumulated Other Comprehensive Loss | Note 13 – Accumulated Other Comprehensive Income June 30 December 31 Unrealized gain (loss) on securities available for sale $ 10,151 $ (8,561 ) Unamortized gain (loss) on securities held to maturity, previously transferred from AFS (58 ) 10 Unrealized loss on derivative instruments (4,767 ) (1,760 ) Tax effect (1,119 ) 2,167 Total accumulated other comprehensive income (loss) $ 4,207 $ (8,144 ) |
Regulatory Capital
Regulatory Capital | 6 Months Ended |
Jun. 30, 2019 | |
Banking and Thrift [Abstract] | |
Regulatory Capital | Note 14 – Regulatory Capital Horizon and the Bank are subject to various regulatory capital requirements administered by the federal banking agencies. These capital requirements implement changes arising from the Dodd-Frank Wall Street Reform and Consumer Protection Act and the U.S. Basel Committee on Banking Supervision’s capital framework (known as “Basel III”). Failure to meet the minimum regulatory capital requirements can initiate certain mandatory and possible additional discretionary actions by regulators, which if undertaken, could have a direct material effect on the Company’s financial statements. Under capital adequacy guidelines and the regulatory framework for prompt corrective actions, the Company and Bank must meet specific capital guidelines involving quantitative measures of the Bank’s assets, liabilities, and certain off-balance-sheet items as calculated under regulatory accounting practices. The Company’s and Bank’s capital amounts and classification are also subject to qualitative judgments by the regulators about components, risk weightings and other factors. The Company and Bank are subject to minimum regulatory capital requirements as defined and calculated in accordance with the Basel III-based regulations. As allowed under Basel III rules, the Company made the decision to opt-out of including accumulated other comprehensive income in regulatory capital. The minimum regulatory capital requirements are set forth in the table below. In addition, to be categorized as well capitalized, the Company and Bank must maintain Total risk-based, Tier I risk-based, common equity Tier I risk-based and Tier I leverage ratios as set forth in the table below. As of June 30, 2019 and December 31, 2018, the Company and Bank met all capital adequacy requirements to be considered well capitalized. There have been no conditions or events since the end of the second quarter of 2019 that management believes have changed the Bank’s classification as well capitalized. There is no threshold for well-capitalized status for bank holding companies. Horizon and the Bank’s actual and required capital ratios as of June 30, 2019 and December 31, 2018 were as follows: Actual Required for Capital 1 Required For Capital 1 Well Capitalized Under 1 Amount Ratio Amount Ratio Amount Ratio Amount Ratio June 30, 2019 Total capital 1 Consolidated $ 519,613 13.23 % $ 314,113 8.00 % $ 412,273 10.50 % N/A N/A Bank 480,366 12.23 % 314,242 8.00 % 412,443 10.50 % $ 392,802 10.00 % Tier 1 capital 1 Consolidated 501,272 12.77 % 235,586 6.00 % 333,747 8.50 % N/A N/A Bank 462,025 11.76 % 235,681 6.00 % 333,881 8.50 % 314,241 8.00 % Common equity tier 1 capital 1 Consolidated 443,779 11.30 % 176,689 4.50 % 274,849 7.00 % N/A N/A Bank 462,025 11.76 % 176,761 4.50 % 274,961 7.00 % 255,321 6.50 % Tier 1 capital 1 Consolidated 501,272 10.33 % 194,081 4.00 % 194,081 4.00 % N/A N/A Bank 462,025 9.52 % 194,081 4.00 % 194,081 4.00 % 242,602 5.00 % December 31, 2018 Total capital 1 Consolidated $ 427,616 13.39 % $ 255,419 8.00 % $ 315,283 9.875 % N/A N/A Bank 396,755 12.43 % 255,419 8.00 % 315,283 9.875 % $ 319,274 10.00 % Tier 1 capital 1 Consolidated 409,760 12.83 % 191,565 6.00 % 251,429 7.875 % N/A N/A Bank 378,899 11.87 % 191,565 6.00 % 251,429 7.875 % 255,420 8.00 % Common equity tier 1 capital 1 Consolidated 371,297 11.63 % 143,673 4.50 % 203,537 6.375 % N/A N/A Bank 378,899 11.87 % 143,674 4.50 % 203,537 6.375 % 207,528 6.50 % Tier 1 capital 1 Consolidated 409,760 10.12 % 162,033 4.00 % 162,033 4.000 % N/A N/A Bank 378,899 9.34 % 162,327 4.00 % 162,327 4.000 % 202,908 5.00 % |
Future Accounting Matters
Future Accounting Matters | 6 Months Ended |
Jun. 30, 2019 | |
Accounting Changes and Error Corrections [Abstract] | |
Future Accounting Matters | Note 15 – Future Accounting Matters Financial Accounting Standards Board (FASB) Accounting Standards Update (ASU) No. 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework – Changes to the Disclosure Requirements for Fair Value Measurement The FASB has issued ASU No. 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework – Changes to the Disclosure Requirements for Fair Value Measurement . These amendments modify the disclosure requirements in Topic 820 as follows: Removals : the amount of and reasons for transfers between Level 1 and Level 2 of the fair value hierarchy; the policy for timing of transfers between levels; and the valuation processes for Level 3 fair value measurements. Modifications : for investments in certain entities that calculate net asset value, an entity is required to disclose the timing of liquidation of an investee’s assets and the date when restrictions from redemption might lapse only if the investee has communicated the timing to the entity or announced the timing publicly; and the amendments clarify that the measurement uncertainty disclosure is to communicate information about the uncertainty in measurement as of the reporting date. Additions : the changes in unrealized gains and losses for the period included in other comprehensive income for recurring Level 3 fair value measurements held at the end of the reporting period; and the range and weighted average of significant unobservable inputs used to develop Level 3 fair value measurements. The guidance is effective for all entities for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019. The amendments on changes in unrealized gains and losses, the range and weighted average of significant unobservable inputs used to develop Level 3 fair value measurements, and the narrative description of measurement uncertainty should all be applied prospectively for only the most recent interim or annual period presented in the initial year of adoption. All other amendments should be applied retrospectively to all periods presented upon their effective date. Early adoption is permitted. An entity is permitted to early adopt any removed or modified disclosures upon issuance of ASU No. 2018-13 and delay adoption of the additional disclosures until their effective date. We are currently evaluating the impact of adoption of ASU 2018-13 and the impact on our accounting and disclosures. FASB ASU No. 2017-04, Intangibles – Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment The FASB has issued ASU No. 2017-04, Intangibles – Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment. The new guidance is intended to simplify the subsequent measurement of goodwill by eliminating Step 2 from the goodwill impairment test. The annual, or interim, goodwill impairment test is performed by comparing the fair value of a reporting unit with its carrying amount. An impairment charge should be recognized for the amount by which the carrying amount exceeds the reporting unit’s fair value; however, the loss recognized should not exceed the total amount of goodwill allocated to that reporting unit. In addition, the income tax effects of tax deductible goodwill on the carrying amount of the reporting unit should be considered when measuring the goodwill impairment loss, if applicable. The amendments also eliminate the requirements for any reporting unit with a zero or negative carrying amount to perform Step 2 of the goodwill impairment test. An entity still has the option to perform the qualitative assessment for a reporting unit to determine if the qualitative impairment test is necessary. The amendments should be applied on a prospective basis. The nature of and reason for the change in accounting principle should be disclosed upon transition. The amendments in this update should be adopted for annual or any interim goodwill impairment tests in fiscal years beginning after December 15, 2019. Early adoption is permitted on testing dates after January 1, 2017. We are currently evaluating the impact of adopting the new guidance on the consolidated financial statements, but it is not expected to have a material impact. FASB ASU No. 2016-13, Financial Instruments – Credit Losses Measurement of Credit Losses on Financial Instruments The FASB has issued ASU No. 2016-13, Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments. The main objective of this amendment is to provide financial statement users with more decision-useful information about the expected credit losses on financial instruments and other commitments to extend credit held by a reporting entity at each reporting date. The amendment requires the measurement of all expected credit losses for financial assets held at the reporting date based on historical experience, current conditions, and reasonable and supportable forecasts. Financial institutions and other organizations will now use forward-looking information to enhance their credit loss estimates. The amendment requires enhanced disclosures to help investors and other financial statement users better understand significant estimates and judgments used in estimating credit losses, as well as the credit quality and underwriting standards of an organization’s portfolio. In addition, the ASU amends the accounting for credit losses on available-for-sale debt securities and purchased financial assets with credit deterioration. The amendments in this update become effective for annual periods and interim periods within those annual periods beginning after December 15, 2019. Early adoption will be permitted beginning after December 15, 2018. We expect a one-time cumulative-effect adjustment to the allowance for loan losses will be recognized in retained earnings on the consolidated balance sheet as of the beginning of the first reporting period in which the new standard is effective, as is consistent with regulatory expectations set forth in interagency guidance issued at the end of 2016. We are currently implementing third-party software that was purchased and are validating the data loaded into the solution. Our implementation team meets on a regular basis to oversee activities and monitor progress. The methodologies are in the process of being finalized so the magnitude of any such adjustment or the overall impact of the new standard on the financial condition or results of operations cannot yet be determined. |
General Litigation
General Litigation | 6 Months Ended |
Jun. 30, 2019 | |
Commitments and Contingencies Disclosure [Abstract] | |
General Litigation | Note 16 – General Litigation The Company is subject to claims and lawsuits that arise primarily in the ordinary course of business. It is the opinion of management that the disposition or ultimate resolution of such claims and lawsuits will not have a material adverse effect on the consolidated financial position, results of operation and cash flows of the Company. |
Accounting Policies (Policies)
Accounting Policies (Policies) | 6 Months Ended |
Jun. 30, 2019 | |
Accounting Policies [Abstract] | |
Earnings per Common Share | Basic earnings per share is computed by dividing net income available to common shareholders (net income less dividend requirements for preferred stock and accretion of preferred stock discount) by the weighted-average number of common shares outstanding. Diluted earnings per share reflect the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock. The following table shows computation of basic and diluted earnings per share. Three Months Ended Six Months Ended June 30 June 30 2019 2018 2019 2018 Basic earnings per share Net income $ 16,642 $ 14,115 $ 27,458 $ 26,919 Weighted average common shares outstanding (1) 45,055,117 38,347,612 41,956,047 38,327,118 Basic earnings per share $ 0.37 $ 0.37 $ 0.65 $ 0.70 Diluted earnings per share Net income available to common shareholders $ 16,642 $ 14,115 $ 27,458 $ 26,919 Weighted average common shares outstanding (1) 45,055,117 38,347,612 41,956,047 38,327,118 Effect of dilutive securities: Restricted stock — 47,307 — 37,383 Stock options 75,291 124,482 76,924 119,820 Weighted average common shares outstanding 45,130,408 38,519,401 42,032,971 38,484,321 $ 0.37 $ 0.37 $ 0.65 $ 0.70 (1) Adjusted for 3:2 There were 341,394 and zero non-dilutive. non-dilutive. Horizon has share-based employee compensation plans, which are described in the notes to the financial statements included in the December 31, 2018 Annual Report on Form 10-K. |
Recent Accounting Pronouncements | Financial Accounting Standards Board (FASB) Accounting Standards Update (ASU) No. 2017-12, Derivatives and Hedging (Topic 815), Targeted Improvements to Accounting for Hedging Activities The FASB has issued ASU No. 2017-12, Derivatives and Hedging (Topic 815), Targeted Improvements to Accounting for Hedging Activities. 2017-12 9 FASB Accounting Standards Updates No. 2016-02, Leases The FASB has issued Accounting Standards Update (ASU) No. 2016-02, Leases. right-of-use right-of-use |
Revenue Recognition | Revenue Recognition Accounting Standards Codification 606, “ Revenue from Contracts with Customers” non-interest • Service charges and fees on deposit accounts – these include general service fees charged for deposit account maintenance and activity and transaction-based fees charged for certain services, such as debit card, wire transfer or overdraft activities. Revenue is recognized when the performance obligation is completed, which is generally after a transaction is completed or monthly for account maintenance services. • Fiduciary activities – this includes periodic fees due from trust and wealth management customers for managing the customers’ financial assets. Fees are charged based on a standard agreement and are recognized as they are earned. |
Reclassifications | Reclassifications Certain reclassifications have been made to the 2018 condensed consolidated financial statements to be comparable to 2019. These reclassifications had no |
Accounting Policies (Tables)
Accounting Policies (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Accounting Policies [Abstract] | |
Summary of Computation of Basic and Diluted Earnings Per Share | The following table shows computation of basic and diluted earnings per share. Three Months Ended Six Months Ended June 30 June 30 2019 2018 2019 2018 Basic earnings per share Net income $ 16,642 $ 14,115 $ 27,458 $ 26,919 Weighted average common shares outstanding (1) 45,055,117 38,347,612 41,956,047 38,327,118 Basic earnings per share $ 0.37 $ 0.37 $ 0.65 $ 0.70 Diluted earnings per share Net income available to common shareholders $ 16,642 $ 14,115 $ 27,458 $ 26,919 Weighted average common shares outstanding (1) 45,055,117 38,347,612 41,956,047 38,327,118 Effect of dilutive securities: Restricted stock — 47,307 — 37,383 Stock options 75,291 124,482 76,924 119,820 Weighted average common shares outstanding 45,130,408 38,519,401 42,032,971 38,484,321 $ 0.37 $ 0.37 $ 0.65 $ 0.70 (1) Adjusted for 3:2 |
Acquisitions (Tables)
Acquisitions (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Schedule of Purchase Price of Assets Acquired and Liabilities Assumed | Based on preliminary valuations of the fair value of tangible and intangible assets acquired and liabilities assumed, which are based on estimates and assumptions that are subject to change, the preliminary purchase price for the Salin acquisition is detailed in the following table. Assets Cash and due from banks $ 152,745 Investment securities, available for sale 54,319 Loans Commercial 352,798 Residential mortgage 131,008 Consumer 85,112 Total loans 568,918 Premises and equipment, net 19,700 FRB and FHLB stock 3,571 Goodwill 31,232 Core deposit intangible 19,818 Interest receivable 2,488 Other assets 111,651 Total assets purchased $ 964,442 Common shares issued $ 102,722 Cash paid 24,000 Total purchase price $ 126,722 Liabilities Deposits Non-interest bearing $ 188,744 NOW accounts 207,567 Savings and money market 274,504 Certificates of deposit 70,535 Total deposits 741,350 Borrowings 70,495 Subordinated debentures 18,259 Interest payable 826 Other liabilities 6,790 Total liabilities assumed $ 837,720 |
Schedule of Acquired Loans Accounted for in Accordance with ASC 310-30 | The following table details an estimate of the acquired loans that are accounted for in accordance with ASC 310-30 Contractually required principal and interest at acquisition $ 22,672 Contractual cash flows not expected to be collected (nonaccretable differences) 6,694 Expected cash flows at acquisition 15,978 Interest component of expected cash flows (accretable discount) 735 Fair value of acquired loans accounted for under ASC 310-30 $ 15,243 |
Pro Forma Result of Comparable Prior Reporting Period | The following schedule includes pro-forma Three Months Ended Six Months Ended June 30 June 30 June 30 2019 2018 2019 2018 Summary of Operations: Net Interest Income $ 41,529 $ 41,066 $ 83,711 $ 81,685 Provision for Loan Losses 896 835 1,560 2,002 Net Interest Income after Provision for Loan Losses 40,633 40,231 82,151 79,683 Non-interest 10,898 10,842 20,024 20,841 Non-interest 31,584 32,410 73,736 65,579 Income before Income Taxes 19,947 18,663 28,439 34,945 Income Tax Expense 3,305 2,733 5,322 5,198 Net Income 16,642 15,930 23,117 29,747 Net Income Available to Common Shareholders $ 16,642 $ 15,930 $ 23,117 $ 29,747 Basic Earnings per Share $ 0.37 $ 0.42 $ 0.51 $ 0.78 Diluted Earnings per Share $ 0.37 $ 0.41 $ 0.51 $ 0.77 |
Securities (Tables)
Securities (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Investments, Debt and Equity Securities [Abstract] | |
Fair Value of Securities | The fair value of securities is as follows: June 30, 2019 Amortized Gross Gross Fair Available for sale U.S. Treasury and federal agencies $ 9,915 $ 2 $ (16 ) $ 9,901 State and municipal 253,201 8,090 (1,126 ) 260,165 Federal agency collateralized mortgage obligations 229,166 2,878 (522 ) 231,522 Federal agency mortgage-backed pools 153,378 818 (673 ) 153,523 Corporate notes 17,608 700 — 18,308 Total available for sale investment securities $ 663,268 $ 12,488 $ (2,337 ) $ 673,419 Held to maturity State and municipal $ 195,719 $ 6,196 $ (220 ) $ 201,695 Federal agency collateralized mortgage obligations 4,884 12 (19 ) 4,877 Federal agency mortgage-backed pools 13,165 167 (13 ) 13,319 Total held to maturity investment securities $ 213,768 $ 6,375 $ (252 ) $ 219,891 December 31, 2018 Amortized Gross Gross Fair Available for sale U.S. Treasury and federal agencies $ 16,815 $ 1 $ (208 ) $ 16,608 State and municipal 210,386 1,495 (2,578 ) 209,303 Federal agency collateralized mortgage obligations 187,563 625 (3,185 ) 185,003 Federal agency mortgage-backed pools 183,479 80 (4,823 ) 178,736 Corporate notes 10,666 107 (75 ) 10,698 Total available for sale investment securities $ 608,909 $ 2,308 $ (10,869 ) $ 600,348 Held to maturity State and municipal $ 191,269 $ 1,773 $ (3,366 ) $ 189,676 Federal agency collateralized mortgage obligations 5,144 6 (120 ) 5,030 Federal agency mortgage-backed pools 13,699 74 (206 ) 13,567 Total held to maturity investment securities $ 210,112 $ 1,853 $ (3,692 ) $ 208,273 |
Amortized Cost and Fair Value of Securities Available for Sale and Held to Maturity | The amortized cost and fair value of securities available for sale and held to maturity at June 30, 2019 and December 31, 2018, by contractual maturity, are shown below. Expected maturities will differ from contractual maturities because issuers may have the right to call or prepay obligations with or without call or prepayment penalties. June 30, 2019 December 31, 2018 Amortized Fair Amortized Fair Available for sale Within one year $ 26,850 $ 26,836 $ 20,532 $ 20,448 One to five years 40,560 40,333 42,476 41,705 Five to ten years 88,574 92,128 107,839 107,107 After ten years 124,740 129,077 67,020 67,349 280,724 288,374 237,867 236,609 Federal agency collateralized mortgage obligations 229,166 231,522 187,563 185,003 Federal agency mortgage-backed pools 153,378 153,523 183,479 178,736 Total available for sale investment securities $ 663,268 $ 673,419 $ 608,909 $ 600,348 Held to maturity Within one year $ 2,481 $ 2,499 $ 70 $ 70 One to five years 56,121 57,124 48,732 49,324 Five to ten years 101,195 104,168 101,809 101,533 After ten years 35,922 37,904 40,658 38,749 195,719 201,695 191,269 189,676 Federal agency collateralized mortgage obligations 4,884 4,877 5,144 5,030 Federal agency mortgage-backed pools 13,165 13,319 13,699 13,567 Total held to maturity investment securities $ 213,768 $ 219,891 $ 210,112 $ 208,273 |
Gross Unrealized Losses and Fair Value of Company's Investments | The following table shows the gross unrealized losses and the fair value of the Company’s investments, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position. June 30, 2019 Less than 12 Months 12 Months or More Total Fair Unrealized Fair Unrealized Fair Unrealized Investment Securities U.S. Treasury and federal agencies $ — $ — $ 3,399 $ (16 ) $ 3,399 $ (16 ) State and municipal 72,943 (1,039 ) 16,097 (307 ) 89,040 (1,346 ) Federal agency collateralized mortgage obligations 3,706 (1 ) 52,991 (540 ) 56,697 (541 ) Federal agency mortgage-backed pools 1,671 (1 ) 78,972 (685 ) 80,643 (686 ) Total temporarily impaired securities $ 78,320 $ (1,041 ) $ 151,459 $ (1,548 ) $ 229,779 $ (2,589 ) December 31, 2018 Less than 12 Months 12 Months or More Total Fair Unrealized Fair Unrealized Fair Unrealized Investment Securities U.S. Treasury and federal agencies $ — $ — $ 9,707 $ (208 ) $ 9,707 $ (208 ) State and municipal 75,163 (1,628 ) 106,335 (4,316 ) 181,498 (5,944 ) Federal agency collateralized mortgage obligations 6,450 (25 ) 106,257 (3,280 ) 112,707 (3,305 ) Federal agency mortgage-backed pools 5,739 (39 ) 175,865 (4,990 ) 181,604 (5,029 ) Corporate notes 5,263 (75 ) — — 5,263 (75 ) Total temporarily impaired securities $ 92,615 $ (1,767 ) $ 398,164 $ (12,794 ) $ 490,779 $ (14,561 ) |
Sales of Securities Available for Sale | Information regarding security proceeds, gross gains and gross losses are presented below. Three Months Ended Six Months Ended June 30 June 30 2019 2018 2019 2018 Sales of securities available for sale Proceeds $ 74,048 $ — $ 91,635 $ 9,836 Gross gains 99 — 158 37 Gross losses (199 ) — (243 ) (26 ) |
Loans (Tables)
Loans (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Amounts of Loans | June 30 December 31 2019 2018 Commercial Working capital and equipment $ 917,533 $ 804,083 Real estate, including agriculture 1,017,138 834,037 Tax exempt 61,015 48,975 Other 66,937 34,495 Total 2,062,623 1,721,590 Real estate 1-4 806,390 659,754 Other 7,675 8,387 Total 814,065 668,141 Consumer Auto 343,876 327,413 Recreation 16,257 13,975 Real estate/home improvement 44,988 39,587 Home equity 239,358 163,209 Unsecured 7,455 4,043 Other 2,618 1,254 Total 654,552 549,481 Mortgage warehouse 133,428 74,120 Total loans 3,664,668 3,013,332 Allowance for loan losses (18,305 ) (17,820 ) Loans, net $ 3,646,363 $ 2,995,512 |
Recorded Investment of Individual Loan Categories | The following table shows the recorded investment of individual loan categories. June 30, 2019 Loan Interest Deferred Recorded Owner occupied real estate $ 709,597 $ 1,253 $ (1,584 ) $ 709,266 Non-owner 783,092 1,464 (1,701 ) 782,855 Residential spec homes 14,862 36 (24 ) 14,874 Development & spec land 41,102 179 71 41,352 Commercial and industrial 518,880 4,806 (1,672 ) 522,014 Total commercial 2,067,533 7,738 (4,910 ) 2,070,361 Residential mortgage 798,813 2,521 (7,151 ) 794,183 Residential construction 22,403 57 — 22,460 Mortgage warehouse 133,428 480 — 133,908 Total real estate 954,644 3,058 (7,151 ) 950,551 Direct installment 46,468 156 808 47,432 Indirect installment 329,773 806 — 330,579 Home equity 275,396 1,505 2,107 279,008 Total consumer 651,637 2,467 2,915 657,019 Total loans 3,673,814 13,263 (9,146 ) 3,677,931 Allowance for loan losses (18,305 ) — — (18,305 ) Net loans $ 3,655,509 $ 13,263 $ (9,146 ) $ 3,659,626 December 31, 2018 Loan Interest Deferred Recorded Owner occupied real estate $ 561,463 $ 1,240 $ (1,629 ) $ 561,074 Non-owner 717,814 1,063 (1,839 ) 717,038 Residential spec homes 5,199 13 (2 ) 5,210 Development & spec land 46,547 131 (12 ) 46,666 Commercial and industrial 394,346 3,149 (297 ) 397,198 Total commercial 1,725,369 5,596 (3,779 ) 1,727,186 Residential mortgage 646,136 1,861 (2,025 ) 645,972 Residential construction 24,030 42 — 24,072 Mortgage warehouse 74,120 480 — 74,600 Total real estate 744,286 2,383 (2,025 ) 744,644 Direct installment 38,173 103 566 38,842 Indirect installment 314,177 738 — 314,915 Home equity 194,766 973 1,799 197,538 Total consumer 547,116 1,814 2,365 551,295 Total loans 3,016,771 9,793 (3,439 ) 3,023,125 Allowance for loan losses (17,820 ) — — (17,820 ) Net loans $ 2,998,951 $ 9,793 $ (3,439 ) $ 3,005,305 |
Accounting for Certain Loans _2
Accounting for Certain Loans Acquired in a Transfer (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Carrying Amounts of Loans | The carrying amounts of those loans included in the balance sheet amounts of loans receivable are as follows: June 30, 2019 Commercial Real Estate Consumer Outstanding Allowance Carrying Heartland $ 217 $ 152 $ — $ 369 $ — $ 369 Summit 213 515 — 728 — 728 Peoples 249 40 — 289 — 289 Kosciusko 672 148 — 820 195 625 LaPorte 663 818 24 1,505 — 1,505 Lafayette 2,002 — — 2,002 — 2,002 Wolverine 5,606 — — 5,606 19 5,587 Salin 8,075 1,855 1,096 11,026 — 11,026 Total $ 17,697 $ 3,528 $ 1,120 $ 22,345 $ 214 $ 22,131 December 31, 2018 Commercial Real Estate Consumer Outstanding Allowance Carrying Heartland $ 232 $ 175 $ — $ 407 $ — $ 407 Summit 323 555 — 878 — 878 Peoples 270 58 — 328 — 328 Kosciusko 746 155 — 901 — 901 LaPorte 753 947 27 1,727 60 1,667 Lafayette 3,080 — — 3,080 — 3,080 Wolverine 7,841 — — 7,841 — 7,841 Total $ 13,245 $ 1,890 $ 27 $ 15,162 $ 60 $ 15,102 |
Accretable Yield or Income Expected to be Collected | Accretable yield, or income expected to be collected for the six months ended June 30, is as follows: Six Months Ended June 30, 2019 Beginning Additions Accretion Reclassification Disposals Ending Heartland $ 174 $ — $ (16 ) $ — $ — $ 158 Summit 42 — (5 ) — (11 ) 26 Kosciusko 300 — (33 ) — (1 ) 266 LaPorte 829 — (59 ) — — 770 Lafayette 609 — (67 ) — (180 ) 362 Wolverine 698 — (212 ) — (120 ) 366 Salin — 735 — — — 735 Total $ 2,652 $ 735 $ (392 ) $ — $ (312 ) $ 2,683 Six Months Ended June 30, 2018 Beginning Additions Accretion Reclassification Disposals Ending Heartland $ 452 $ — $ (68 ) $ — $ (193 ) $ 191 Summit 147 — (34 ) — (6 ) 107 Kosciusko 386 — (40 ) — — 346 LaPorte 980 — (75 ) — (7 ) 898 Lafayette 933 — (176 ) — (2 ) 755 Wolverine 2,267 — (538 ) — (680 ) 1,049 Total $ 5,165 $ — $ (931 ) $ — $ (888 ) $ 3,346 |
Allowance for Loan Losses (Tabl
Allowance for Loan Losses (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Receivables [Abstract] | |
Allowance for Loan Losses | The historical loss experience is determined by portfolio segment and is based on the actual loss history experienced by the Company over the prior one Three Months Ended Six Months Ended June 30 June 30 2019 2018 2019 2018 (Unaudited) (Unaudited) (Unaudited) (Unaudited) Balance at beginning of the period $ 17,821 $ 16,474 $ 17,820 $ 16,394 Loans charged-off: Commercial Owner occupied real estate 336 — 337 13 Non-owner — — 64 — Residential spec homes 3 — 3 — Development & spec land — — — — Commercial and industrial — — 12 — Total commercial 339 — 416 13 Real estate Residential mortgage 48 3 48 15 Residential construction — — — — Mortgage warehouse — — — — Total real estate 48 3 48 15 Consumer Direct installment 37 49 65 104 Indirect installment 251 365 791 870 Home equity 39 — 55 131 Total consumer 327 414 911 1,105 Total loans charged-off 714 417 1,375 1,133 Recoveries of loans previously charged-off: Commercial Owner occupied real estate — — — 12 Non-owner 4 12 10 17 Residential spec homes 1 2 3 4 Development & spec land — — — — Commercial and industrial 69 26 77 58 Total commercial 74 40 90 91 Real estate Residential mortgage 7 5 34 11 Residential construction — — — — Mortgage warehouse — — — — Total real estate 7 5 34 11 Consumer Direct installment 75 21 86 32 Indirect installment 182 132 383 271 Home equity (36 ) 181 7 203 Total consumer 221 334 476 506 Total loan recoveries 302 379 600 608 Net loans charged-off 412 38 775 525 Provision charged to operating expense Commercial 590 985 1,712 (306 ) Real estate 211 (117 ) 104 (369 ) Consumer 95 (233 ) (556 ) 1,877 Total provision charged to operating expense 896 635 1,260 1,202 Balance at the end of the period $ 18,305 $ 17,071 $ 18,305 $ 17,071 |
Allowance for Loan Losses and Recorded Investment in Loans by Portfolio Segment | The following table presents the balance in the allowance for loan losses and the recorded investment in loans by portfolio segment and based on impairment analysis: June 30, 2019 Commercial Real Estate Mortgage Consumer Total Allowance For Loan Losses Ending allowance balance attributable to loans: Individually evaluated for impairment $ 787 $ — $ — $ — $ 787 Collectively evaluated for impairment 11,094 1,732 1,040 3,652 17,518 Loans acquired with deteriorated credit quality — — — — — Total ending allowance balance $ 11,881 $ 1,732 $ 1,040 $ 3,652 $ 18,305 Loans: Individually evaluated for impairment $ 8,641 $ — $ — $ — $ 8,641 Collectively evaluated for impairment 2,058,892 821,216 133,428 651,637 3,665,173 Loans acquired with deteriorated credit quality — — — — — Total ending loans balance $ 2,067,533 $ 821,216 $ 133,428 $ 651,637 $ 3,673,814 December 31, 2018 Commercial Real Estate Mortgage Consumer Total Allowance For Loan Losses Ending allowance balance attributable to loans: Individually evaluated for impairment $ 1,035 $ — $ — $ — $ 1,035 Collectively evaluated for impairment 9,460 1,676 1,006 4,643 16,785 Loans acquired with deteriorated credit quality — — — — — Total ending allowance balance $ 10,495 $ 1,676 $ 1,006 $ 4,643 $ 17,820 Loans: Individually evaluated for impairment $ 6,708 $ — $ — $ — $ 6,708 Collectively evaluated for impairment 1,718,661 670,166 74,120 547,116 3,010,063 Loans acquired with deteriorated credit quality — — — — — Total ending loans balance $ 1,725,369 $ 670,166 $ 74,120 $ 547,116 $ 3,016,771 |
Non-performing Loans and Impa_2
Non-performing Loans and Impaired Loans (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Text Block [Abstract] | |
Non-accrual, Loans Past Due Over 90 Days Still on Accrual, and Troubled Debt Restructured ("TDRs") by Class of Loans | The following table presents the non-accrual, June 30, 2019 Non-accrual Loans Past Non-peforming Performing Total Non-performing Commercial Owner occupied real estate $ 3,694 $ 63 $ 389 $ 139 $ 4,285 Non-owner 616 — 635 — 1,251 Residential spec homes — — — — — Development & spec land 140 — — — 140 Commercial and industrial 3,021 — — — 3,021 Total commercial 7,471 63 1,024 139 8,697 Real estate Residential mortgage 4,219 77 416 1,732 6,444 Residential construction — — — — — Mortgage warehouse — — — — — Total real estate 4,219 77 416 1,732 6,444 Consumer Direct installment 36 — — — 36 Indirect installment 1,129 156 — — 1,285 Home equity 1,909 95 136 327 2,467 Total consumer 3,074 251 136 327 3,788 Total $ 14,764 $ 391 $ 1,576 $ 2,198 $ 18,929 December 31, 2018 Non-accrual Loans Past Non-peforming Performing Total Non-performing Commercial Owner occupied real estate $ 3,413 $ — $ — $ 109 $ 3,522 Non-owner 554 — 492 — 1,046 Residential spec homes — — — — — Development & spec land 68 — — — 68 Commercial and industrial 2,059 208 — — 2,267 Total commercial 6,094 208 492 109 6,903 Real estate Residential mortgage 2,846 180 423 1,558 5,007 Residential construction — — — — — Mortgage warehouse — — — — — Total real estate 2,846 180 423 1,558 5,007 Consumer Direct installment 35 — — — 35 Indirect installment 916 173 — — 1,089 Home equity 1,657 7 142 335 2,141 Total consumer 2,608 180 142 335 3,265 Total $ 11,548 $ 568 $ 1,057 $ 2,002 $ 15,175 |
Commercial Loans Individually Evaluated for Impairment by Class of Loans | The following table presents commercial loans individually evaluated for impairment by class of loan: June 30, 2019 Three Months Ended Six Months Ended Unpaid Recorded Allowance for Average Cash/Accrual Average Cash/Accrual With no recorded allowance Commercial Owner occupied real estate $ 3,851 $ 3,851 $ — $ 5,987 $ 76 $ 6,005 $ 130 Non-owner 1,116 1,143 — 1,260 33 1,293 64 Residential spec homes — — — — — — — Development & spec land 140 139 — 226 2 224 2 Commercial and industrial 1,797 1,778 — 2,073 15 2,078 22 Total commercial 6,904 6,911 — 9,546 126 9,600 218 With an allowance recorded Commercial Owner occupied real estate 371 371 3 372 10 365 10 Non-owner 135 135 40 135 — 135 — Residential spec homes — — — — — — — Development & spec land — — — — — — — Commercial and industrial 1,224 1,224 744 1,252 25 1,258 25 Total commercial 1,730 1,730 787 1,759 35 1,758 35 Total $ 8,634 $ 8,641 $ 787 $ 11,305 $ 161 $ 11,358 $ 253 June 30, 2018 Three Months Ended Six Months Ended Unpaid Recorded Allowance for Average Cash/Accrual Average Cash/Accrual With no recorded allowance Commercial Owner occupied real estate $ 4,765 $ 4,762 $ — $ 5,271 $ 59 $ 5,303 $ 96 Non-owner 1,344 1,360 — 1,591 5 1,559 10 Residential spec homes — — — — — — — Development & spec land 72 70 — 71 — 73 — Commercial and industrial 1,943 1,943 — 1,916 7 1,886 7 Total commercial 8,124 8,135 — 8,849 71 8,821 113 With an allowance recorded Commercial Owner occupied real estate 864 864 184 871 — 885 — Non-owner — — — — — — — Residential spec homes — — — — — — — Development & spec land — — — — — — — Commercial and industrial — — — — — — — Total commercial 864 864 184 871 — 885 — Total $ 8,988 $ 8,999 $ 184 $ 9,720 $ 71 $ 9,706 $ 113 |
Payment Status by Class of Loan | The following table presents the payment status by class of loan: June 30, 2019 Current 30-59 60-89 90 Days or Non-accrual Total Past Due Non-accrual Total Commercial Owner occupied real estate $ 705,186 $ 265 $ — $ 63 $ 4,083 $ 4,411 $ 709,597 Non-owner 781,012 829 — — 1,251 2,080 783,092 Residential spec homes 14,862 — — — — — 14,862 Development & spec land 40,509 453 — — 140 593 41,102 Commercial and industrial 513,126 2,234 499 — 3,021 5,754 518,880 Total commercial 2,054,695 3,781 499 63 8,495 12,838 2,067,533 Real estate Residential mortgage 791,704 2,272 125 77 4,635 7,109 798,813 Residential construction 22,403 — — — — — 22,403 Mortgage warehouse 133,428 — — — — — 133,428 Total real estate 947,535 2,272 125 77 4,635 7,109 954,644 Consumer Direct installment 46,203 180 49 — 36 265 46,468 Indirect installment 326,970 1,268 250 156 1,129 2,803 329,773 Home equity 272,047 640 569 95 2,045 3,349 275,396 Total consumer 645,220 2,088 868 251 3,210 6,417 651,637 Total $ 3,647,450 $ 8,141 $ 1,492 $ 391 $ 16,340 $ 26,364 $ 3,673,814 Percentage of total loans 99.28 % 0.22 % 0.04 % 0.01 % 0.44 % 0.72 % 100.00 % December 31, 2018 Current 30-59 60-89 90 Days or Non-accrual Total Past Due Non-accrual Total Commercial Owner occupied real estate $ 556,516 $ 537 $ 997 $ — $ 3,413 $ 4,947 $ 561,463 Non-owner 716,574 175 19 — 1,046 1,240 717,814 Residential spec homes 4,707 492 — — — 492 5,199 Development & spec land 46,479 — — — 68 68 46,547 Commercial and industrial 390,828 515 736 208 2,059 3,518 394,346 Total commercial 1,715,104 1,719 1,752 208 6,586 10,265 1,725,369 Real estate Residential mortgage 641,500 1,131 56 180 3,269 4,636 646,136 Residential construction 24,030 — — — — — 24,030 Mortgage warehouse 74,120 — — — — — 74,120 Total real estate 739,650 1,131 56 180 3,269 4,636 744,286 Consumer Direct installment 38,027 93 18 — 35 146 38,173 Indirect installment 311,494 1,396 198 173 916 2,683 314,177 Home equity 192,162 761 37 7 1,799 2,604 194,766 Total consumer 541,794 2,250 253 180 2,750 5,433 547,116 Total $ 2,996,548 $ 5,100 $ 2,061 $ 568 $ 12,605 $ 20,334 $ 3,016,771 Percentage of total loans 99.33 % 0.17 % 0.07 % 0.02 % 0.42 % 0.67 % 100.00 % |
Loans by Credit Grades | The following table presents loans by credit grades. June 30, 2019 Pass Special Substandard Doubtful Total Commercial Owner occupied real estate $ 686,630 $ 5,711 $ 17,256 $ — $ 709,597 Non-owner 764,517 13,002 5,573 — 783,092 Residential spec homes 14,862 — — — 14,862 Development & spec land 37,847 97 3,158 — 41,102 Commercial and industrial 482,043 25,214 11,623 — 518,880 Total commercial 1,985,899 44,024 37,610 — 2,067,533 Real estate Residential mortgage 792,446 — 6,367 — 798,813 Residential construction 22,403 — — — 22,403 Mortgage warehouse 133,428 — — — 133,428 Total real estate 948,277 — 6,367 — 954,644 Consumer Direct installment 46,433 — 35 — 46,468 Indirect installment 328,488 — 1,285 — 329,773 Home equity 272,929 — 2,467 — 275,396 Total consumer 647,850 — 3,787 — 651,637 Total $ 3,582,026 $ 44,024 $ 47,764 $ — $ 3,673,814 Percentage of total loans 97.50 % 1.20 % 1.30 % 0.00 % 100.00 % December 31, 2018 Pass Special Substandard Doubtful Total Commercial Owner occupied real estate $ 538,177 $ 6,618 $ 16,668 $ — $ 561,463 Non-owner 702,269 9,682 5,863 — 717,814 Residential spec homes 5,199 — — — 5,199 Development & spec land 46,382 97 68 — 46,547 Commercial and industrial 379,607 6,655 8,084 — 394,346 Total commercial 1,671,634 23,052 30,683 — 1,725,369 Real estate Residential mortgage 641,309 — 4,827 — 646,136 Residential construction 24,030 — — — 24,030 Mortgage warehouse 74,120 — — — 74,120 Total real estate 739,459 — 4,827 — 744,286 Consumer Direct installment 38,138 — 35 — 38,173 Indirect installment 313,088 — 1,089 — 314,177 Home equity 192,625 — 2,141 — 194,766 Total consumer 543,851 — 3,265 — 547,116 Total $ 2,954,944 $ 23,052 $ 38,775 $ — $ 3,016,771 Percentage of total loans 97.95 % 0.76 % 1.29 % 0.00 % 100.00 % |
Leases (Tables)
Leases (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Leases [Abstract] | |
Schedule Of Future Minimum Rental Payments For Operating Leases | Future minimum operating lease payments under non-cancellable Year Amount 2019 $ 240 2020 476 2021 476 2022 504 2023 and thereafter 1,609 Total lease payments $ 3,305 Less: Interest (175 ) Present value of lease liabilities $ 3,130 |
Repurchase Agreements (Tables)
Repurchase Agreements (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Text Block [Abstract] | |
Summary of Repurchase Agreements Accounted as Secured Borrowings | The following table shows repurchase agreements accounted for as secured borrowings: June 30, 2019 Remaining Contractual Maturity of the Agreements Overnight Up to one One to three Three to five Five to ten Beyond ten Total Repurchase Agreements and repurchase-to-maturity Repurchase Agreements $ 92,256 $ — $ — $ — $ — $ — $ 92,256 Securities pledged for Repurchase Agreements Federal agency collateralized mortgage obligations $ 36,183 $ — $ — $ — $ — $ — $ 36,183 Federal agency mortgage-backed pools 68,684 — — — — — 68,684 Total $ 104,867 $ — $ — $ — $ — $ — $ 104,867 |
Derivative Financial Instrume_2
Derivative Financial Instruments (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Fair Value of Derivative Financial Instruments | The following tables summarize the fair value of derivative financial instruments utilized by Horizon: Asset Derivatives Liability Derivatives June 30, 2019 June 30, 2019 Balance Sheet Fair Balance Sheet Fair Derivatives designated as hedging instruments Interest rate contracts Loans $ 11,622 Loans $ — Interest rate contracts Other Assets — Other liabilities 16,389 Total derivatives desginated as hedging instruments 11,622 16,389 Derivatives not designated as hedging instruments Mortgage loan contracts Other assets 467 Other liabilities — Total derivatives not designated as hedging instruments 467 — Total derivatives $ 12,089 $ 16,389 Asset Derivatives Liability Derivatives December 31, 2018 December 31, 2018 Balance Sheet Fair Balance Sheet Fair Derivatives designated as hedging instruments Interest rate contracts Loans $ — Loans $ 42 Interest rate contracts Other Assets 42 Other liabilities 1,760 Total derivatives desginated as hedging instruments 42 1,802 Derivatives not designated as hedging instruments Mortgage loan contracts Other assets 135 Other liabilities — Total derivatives not designated as hedging instruments 135 — Total derivatives $ 177 $ 1,802 |
Effect of Derivative Instruments on Condensed Consolidated Statement of Income Derivative in Cash Flow Hedging Relationship | The effect of the derivative instruments on the condensed consolidated statements of income for the three and six-month periods ending June 30 is as follows: Amount of Loss Recognized in Other Comprehensive Income on Derivative Three Months Ended Six Months Ended June 30, 2019 June 30, 2018 June 30, 2019 June 30, 2018 Derivatives in cash flow hedging relationship Interest rate contracts $ (1,502 ) $ 279 $ (2,376 ) $ 879 |
Effect of Derivative Instruments on Consolidated Statement of Income Derivative in Fair Value Hedging Relationship | Location of gain (loss) recognized on derivative Amount of Gain (Loss) Recognized on Derivative Three Months Ended Six Months Ended June 30, 2019 June 30, 2018 June 30, 2019 June 30, 2018 Derivative in fair value hedging relationship Interest rate contracts Interest income - loans $ (7,529 ) $ 2,768 $ (11,580 ) $ 574 Interest rate contracts Interest income - loans 7,529 (2,768 ) 11,580 (574 ) Total $ — $ — $ — $ — Location of gain (loss) recognized on derivative Amount of Gain (Loss) Recognized on Derivative Three Months Ended Six Months Ended June 30, 2019 June 30, 2018 June 30, 2019 June 30, 2018 Derivative not designated as hedging relationship Mortgage contracts Other income - gain on sale of loans $ 75 $ 112 $ 332 $ 195 |
Disclosures about fair value _2
Disclosures about fair value of assets and liabilities (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Text Block [Abstract] | |
Fair Value Measurements of Assets and Liabilities Recognized on a Recurring Basis | The following table presents the fair value measurements of assets and liabilities recognized in the accompanying condensed consolidated financial statements measured at fair value on a recurring basis and the level within the FASB ASC fair value hierarchy in which the fair value measurements fall at the following: June 30, 2019 Fair Value Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Available for sale securities U.S. Treasury and federal agencies $ 9,901 $ — $ 9,901 $ — State and municipal 260,165 — 260,165 — Federal agency collateralized mortgage obligations 231,522 — 231,522 — Federal agency mortgage-backed pools 153,523 — 153,523 — Corporate notes 18,308 — 18,308 — Total available for sale securities 673,419 — 673,419 — Hedged loans 258,180 — 258,180 — Forward sale commitments 467 — 467 — Interest rate swap agreements (16,389 ) — (16,389 ) — Commitments to originate loans — — — — December 31, 2018 Fair Value Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Available for sale securities U.S. Treasury and federal agencies $ 16,608 $ — $ 16,608 $ — State and municipal 209,303 — 209,303 — Federal agency collateralized mortgage obligations 185,003 — 185,003 — Federal agency mortgage-backed pools 178,736 — 178,736 — Corporate notes 10,698 — 10,698 — Total available for sale securities 600,348 — 600,348 — Hedged loans 209,161 — 209,161 — Forward sale commitments 135 — 135 — Interest rate swap agreements (1,801 ) — (1,801 ) — Commitments to originate loans — — — — |
Realized Gains and Losses Included in Net Income for Periods in Consolidated Statements of Income | Realized gains and losses included in net income for the periods are reported in the condensed consolidated statements of income as follows: Non-interest Three Months Ended Six Months Ended Total gains and losses from: June 30, 2019 June 30, 2018 June 30, 2019 June 30, 2018 Hedged loans $ (7,529 ) $ 976 $ (11,580 ) $ 3,744 Fair value interest rate swap agreements 7,529 (976 ) 11,580 (3,744 ) Derivative loan commitments 75 71 332 183 $ 75 $ 71 $ 332 $ 183 |
Other Assets Measured at Fair Value on Nonrecurring Basis | Certain other assets are measured at fair value on a non-recurring Fair Value Quoted Prices in (Level 1) Significant Significant (Level 3) June 30, 2019 Impaired loans $ 7,847 $ — $ — $ 7,847 Mortgage servicing rights 13,652 — — 13,652 December 31, 2018 Impaired loans $ 5,661 $ — $ — $ 5,661 Mortgage servicing rights 12,349 — — 12,349 |
Qualitative Information About Unobservable Inputs Used in Recurring and Nonrecurring Level 3 Fair Value Measurements, Other than Goodwill | The following table presents qualitative information about unobservable inputs used in recurring and non-recurring June 30, 2019 Fair Valuation Technique Unobservable Inputs Range (Weighted Average) Impaired loans $ 7,847 Collateral based measurement Discount to reflect current market conditions and ultimate collectability 0 100 9.1 Mortgage servicing rights 13,652 Discounted cash flows Discount rate Constant prepayment rate, Probability of default 9.7 10.0 9.8 9.6 19.3 11.0 0.0 1.7 0.7 December 31, 2018 Fair Valuation Technique Unobservable Inputs Range (Weighted Average) Impaired loans $ 5,661 Collateral based measurement Discount to reflect current market conditions and ultimate collectability 0 100 15.5 Mortgage servicing rights 12,349 Discounted cash flows Discount rate Constant prepayment rate, Probability of default 10.2 11.0 10.3 9.1 21.9 9.3 0.1 2.8 0.6 |
Fair Value of Financial Instr_2
Fair Value of Financial Instruments (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Fair Value Disclosures [Abstract] | |
Summary of Estimated Fair Values of Financial Instruments | The following table presents estimated fair values of the Company’s financial instruments and the level within the fair value hierarchy in which the fair value measurements fall (unaudited). June 30, 2019 Carrying Quoted Prices in (Level 1) Significant Significant (Level 3) Assets Cash and due from banks $ 94,686 $ 94,686 $ — $ — Interest-earning time deposits 8,090 — 8,107 — Investment securities, held to maturity 213,768 — 219,891 — Loans held for sale 3,185 — — 3,185 Loans (excluding loan level hedges), net 3,388,183 — — 3,247,837 Stock in FHLB 22,447 — 22,447 — Interest receivable 19,015 — 19,015 — Liabilities Non-interest $ 810,350 $ 810,350 $ — $ — Interest bearing deposits 3,120,425 — 3,068,227 — Borrowings 436,233 — 433,258 — Subordinated debentures 56,194 — 50,603 — Interest payable 3,005 — 3,005 — December 31, 2018 Carrying Quoted Prices in Significant Significant Assets Cash and due from banks $ 58,492 $ 58,492 $ — $ — Interest-earning time deposits 15,744 — 15,542 — Investment securities, held to maturity 210,112 — 208,273 — Loans held for sale 1,038 — — 1,038 Loans (excluding loan level hedges), net 2,786,351 — — 2,681,741 Stock in FHLB 18,073 — 18,073 — Interest receivable 14,239 — 14,239 — Liabilities Non-interest $ 642,129 $ 642,129 $ — $ — Interest bearing deposits 2,497,247 — 2,377,274 — Borrowings 550,384 — 542,311 — Subordinated debentures 37,837 — 35,711 — Interest payable 2,031 — 2,031 — |
Accumulated Other Comprehensi_2
Accumulated Other Comprehensive Loss (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Equity [Abstract] | |
Components of Accumulated Other Comprehensive Loss | June 30 December 31 Unrealized gain (loss) on securities available for sale $ 10,151 $ (8,561 ) Unamortized gain (loss) on securities held to maturity, previously transferred from AFS (58 ) 10 Unrealized loss on derivative instruments (4,767 ) (1,760 ) Tax effect (1,119 ) 2,167 Total accumulated other comprehensive income (loss) $ 4,207 $ (8,144 ) |
Regulatory Capital (Tables)
Regulatory Capital (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Banking and Thrift [Abstract] | |
Summary of Regulatory Capital Requirement | Horizon and the Bank’s actual and required capital ratios as of June 30, 2019 and December 31, 2018 were as follows: Actual Required for Capital 1 Required For Capital 1 Well Capitalized Under 1 Amount Ratio Amount Ratio Amount Ratio Amount Ratio June 30, 2019 Total capital 1 Consolidated $ 519,613 13.23 % $ 314,113 8.00 % $ 412,273 10.50 % N/A N/A Bank 480,366 12.23 % 314,242 8.00 % 412,443 10.50 % $ 392,802 10.00 % Tier 1 capital 1 Consolidated 501,272 12.77 % 235,586 6.00 % 333,747 8.50 % N/A N/A Bank 462,025 11.76 % 235,681 6.00 % 333,881 8.50 % 314,241 8.00 % Common equity tier 1 capital 1 Consolidated 443,779 11.30 % 176,689 4.50 % 274,849 7.00 % N/A N/A Bank 462,025 11.76 % 176,761 4.50 % 274,961 7.00 % 255,321 6.50 % Tier 1 capital 1 Consolidated 501,272 10.33 % 194,081 4.00 % 194,081 4.00 % N/A N/A Bank 462,025 9.52 % 194,081 4.00 % 194,081 4.00 % 242,602 5.00 % December 31, 2018 Total capital 1 Consolidated $ 427,616 13.39 % $ 255,419 8.00 % $ 315,283 9.875 % N/A N/A Bank 396,755 12.43 % 255,419 8.00 % 315,283 9.875 % $ 319,274 10.00 % Tier 1 capital 1 Consolidated 409,760 12.83 % 191,565 6.00 % 251,429 7.875 % N/A N/A Bank 378,899 11.87 % 191,565 6.00 % 251,429 7.875 % 255,420 8.00 % Common equity tier 1 capital 1 Consolidated 371,297 11.63 % 143,673 4.50 % 203,537 6.375 % N/A N/A Bank 378,899 11.87 % 143,674 4.50 % 203,537 6.375 % 207,528 6.50 % Tier 1 capital 1 Consolidated 409,760 10.12 % 162,033 4.00 % 162,033 4.000 % N/A N/A Bank 378,899 9.34 % 162,327 4.00 % 162,327 4.000 % 202,908 5.00 % |
Accounting Policies - Additiona
Accounting Policies - Additional Information (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | 6 Months Ended | |||||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | Jan. 01, 2019 | Dec. 31, 2018 | Mar. 15, 2018 | |
Schedule Of Accounting Policies [Line Items] | |||||||
Shares, non-dilutive | 341,394 | 0 | 341,394 | 67,575 | |||
Reclassifications effect on net income | $ 0 | ||||||
Common stock, par value | $ 0 | $ 0 | $ 0 | $ 0 | |||
Operating Lease, Liability | $ 3,130 | $ 3,130 | |||||
Operating Lease, Right-of-Use Asset | $ 3,400 | ||||||
Accounting Standards Update 2016-02 [Member] | |||||||
Schedule Of Accounting Policies [Line Items] | |||||||
Operating Lease, Liability | 3,500 | ||||||
Operating Lease, Right-of-Use Asset | $ 3,500 |
Accounting Policies - Summary o
Accounting Policies - Summary of Computation of Basic and Diluted Earnings Per Share (Detail) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Basic earnings per share | ||||
Net income | $ 16,642 | $ 14,115 | $ 27,458 | $ 26,919 |
Weighted average common shares outstanding | 45,055,117 | 38,347,612 | 41,956,047 | 38,327,118 |
Basic Earnings Per Share | $ 0.37 | $ 0.37 | $ 0.65 | $ 0.70 |
Diluted earnings per share | ||||
Net income available to common shareholders | $ 16,642 | $ 14,115 | $ 27,458 | $ 26,919 |
Weighted average common shares outstanding | 45,055,117 | 38,347,612 | 41,956,047 | 38,327,118 |
Effect of dilutive securities: | ||||
Weighted average common shares outstanding | 45,130,408 | 38,519,401 | 42,032,971 | 38,484,321 |
Diluted Earnings Per Share | $ 0.37 | $ 0.37 | $ 0.65 | $ 0.70 |
Restricted Stock [Member] | ||||
Effect of dilutive securities: | ||||
Effect of dilutive securities | 47,307 | 37,383 | ||
Stock Options [Member] | ||||
Effect of dilutive securities: | ||||
Effect of dilutive securities | 75,291 | 124,482 | 76,924 | 119,820 |
Accounting Policies - Summary_2
Accounting Policies - Summary of Computation of Basic and Diluted Earnings Per Share (Parenthetical) (Detail) | Jun. 15, 2018 | May 15, 2018 |
Accounting Policies [Abstract] | ||
Stock split ratio | 0.015 | 0.015 |
Acquisitions - Additional Infor
Acquisitions - Additional Information (Detail) - USD ($) | 1 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Mar. 26, 2019 | Jun. 30, 2019 | Dec. 31, 2018 | |
Business Acquisition [Line Items] | ||||
Common stock, shares outstanding | 45,061,372 | 45,061,372 | 38,375,407 | |
Acquisition of goodwill | $ 151,111,000 | $ 151,111,000 | $ 119,880,000 | |
Decrease in value of acquired investment securities | 387,000 | |||
Decrease in value of total loans | 2,900,000 | |||
Decrease in value of premises and equipment | 4,200,000 | |||
Increase decrease in value of intangibles | 5,400,000 | |||
Decrease in value of other assets | 4,000,000 | |||
Decrease in value of total deposits | 117,000 | |||
Increase in value of subordinated debentures | 816,000 | |||
Core deposit intangible [Member] | ||||
Business Acquisition [Line Items] | ||||
Increase decrease in value of intangibles | $ 1,300,000 | |||
Salin Bank and Trust Company [Member] | ||||
Business Acquisition [Line Items] | ||||
Exchange ratio per share | 23907.50% | |||
Cash paid for each share | $ 87,417.17 | |||
Common stock, shares outstanding | 275,000 | |||
Common stock issued | 6,563,697 | |||
Market closing price per share | $ 15.65 | |||
Estimated transaction value | $ 126,700,000 | |||
Costs related to the acquisition | 5,600,000 | |||
Total purchase price | 126,722,000 | |||
Net intangible assets acquired | 19,818,000 | |||
Acquisition of goodwill | $ 31,232,000 | |||
Core deposit intangible amortization period | 10 years |
Acquisitions - Schedule of Fina
Acquisitions - Schedule of Final Purchase Price of Assets Acquired and Liabilities Assumed for Salin (Detail) - USD ($) $ in Thousands | Jun. 30, 2019 | Mar. 26, 2019 | Dec. 31, 2018 |
Loans | |||
Goodwill | $ 151,111 | $ 119,880 | |
Salin Bancshares, Inc [Member] | |||
Assets | |||
Cash and due from banks | $ 152,745 | ||
Investment securities, available for sale | 54,319 | ||
Loans | |||
Total loans | 568,918 | ||
Premises and equipment, net | 19,700 | ||
FRB and FHLB stock | 3,571 | ||
Goodwill | 31,232 | ||
Core deposit intangible | 19,818 | ||
Interest receivable | 2,488 | ||
Other assets | 111,651 | ||
Total assets purchased | 964,442 | ||
Common shares issued | 102,722 | ||
Cash paid | 24,000 | ||
Total purchase price | 126,722 | ||
Deposits | |||
Non-interest bearing | 188,744 | ||
NOW accounts | 207,567 | ||
Savings and money market | 274,504 | ||
Certificates of deposit | 70,535 | ||
Total deposits | 741,350 | ||
Borrowings | 70,495 | ||
Subordinated debentures | 18,259 | ||
Interest payable | 826 | ||
Other liabilities | 6,790 | ||
Total liabilities assumed | 837,720 | ||
Salin Bancshares, Inc [Member] | Residential Mortgage [Member] | |||
Loans | |||
Total loans | 131,008 | ||
Salin Bancshares, Inc [Member] | Commercial [Member] | |||
Loans | |||
Total loans | 352,798 | ||
Salin Bancshares, Inc [Member] | Consumer [Member] | |||
Loans | |||
Total loans | $ 85,112 |
Acquisitions - Schedule of Acqu
Acquisitions - Schedule of Acquired Loans Accounted for in Accordance with ASC 310-30 (Detail) - Salin Bancshares, Inc [Member] $ in Thousands | Mar. 26, 2019USD ($) |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | |
Contractually required principal and interest at acquisition | $ 22,672 |
Contractual cash flows not expected to be collected (nonaccretable differences) | 6,694 |
Expected cash flows at acquisition | 15,978 |
Interest component of expected cash flows (accretable discount) | 735 |
Fair value of acquired loans accounted for under ASC 310-30 | $ 15,243 |
Acquisitions - Pro Forma Result
Acquisitions - Pro Forma Result of Comparable Prior Reporting Period (Detail) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Business Acquisition [Line Items] | ||||
Net Interest Income | $ 41,529 | $ 41,066 | $ 83,711 | $ 81,685 |
Provision for loan losses | 896 | 835 | 1,560 | 2,002 |
Net Interest Income after Provision for Loan Losses | 40,633 | 40,231 | 82,151 | 79,683 |
Non-interest Income | 10,898 | 10,842 | 20,024 | 20,841 |
Non-interest Expense | 31,584 | 32,410 | 73,736 | 65,579 |
Income before Income Taxes | 19,947 | 18,663 | 28,439 | 34,945 |
Income Tax Expense | 3,305 | 2,733 | 5,322 | 5,198 |
Net Income | 16,642 | 15,930 | 23,117 | 29,747 |
Net Income Available to Common Shareholders | $ 16,642 | $ 15,930 | $ 23,117 | $ 29,747 |
Basic Earnings Per Share | $ 0.37 | $ 0.42 | $ 0.51 | $ 0.78 |
Diluted Earnings Per Share | $ 0.37 | $ 0.41 | $ 0.51 | $ 0.77 |
Securities - Fair Value of Secu
Securities - Fair Value of Securities (Detail) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
Schedule of Available-for-sale Securities [Line Items] | ||
Total available for sale investment securities, Amortized Cost | $ 663,268 | $ 608,909 |
Gross Unrealized Gains | 12,488 | 2,308 |
Gross Unrealized Losses | (2,337) | (10,869) |
Available-for-sale Securities, Fair Value | 673,419 | 600,348 |
Held-to-maturity, Amortized Cost | 213,768 | 210,112 |
Held-to-maturity, Gross Unrealized Gains | 6,375 | 1,853 |
Held-to-maturity, Gross Unrealized Losses | (252) | (3,692) |
Held-to-maturity, Fair Value | 219,891 | 208,273 |
State and Municipal [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Total available for sale investment securities, Amortized Cost | 253,201 | 210,386 |
Gross Unrealized Gains | 8,090 | 1,495 |
Gross Unrealized Losses | (1,126) | (2,578) |
Available-for-sale Securities, Fair Value | 260,165 | 209,303 |
Held-to-maturity, Amortized Cost | 195,719 | 191,269 |
Held-to-maturity, Gross Unrealized Gains | 6,196 | 1,773 |
Held-to-maturity, Gross Unrealized Losses | (220) | (3,366) |
Held-to-maturity, Fair Value | 201,695 | 189,676 |
Federal Agency Collateralized Mortgage Obligations [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Total available for sale investment securities, Amortized Cost | 229,166 | 187,563 |
Gross Unrealized Gains | 2,878 | 625 |
Gross Unrealized Losses | (522) | (3,185) |
Available-for-sale Securities, Fair Value | 231,522 | 185,003 |
Held-to-maturity, Amortized Cost | 4,884 | 5,144 |
Held-to-maturity, Gross Unrealized Gains | 12 | 6 |
Held-to-maturity, Gross Unrealized Losses | (19) | (120) |
Held-to-maturity, Fair Value | 4,877 | 5,030 |
Federal Agency Mortgage-backed Pools [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Total available for sale investment securities, Amortized Cost | 153,378 | 183,479 |
Gross Unrealized Gains | 818 | 80 |
Gross Unrealized Losses | (673) | (4,823) |
Available-for-sale Securities, Fair Value | 153,523 | 178,736 |
Held-to-maturity, Amortized Cost | 13,165 | 13,699 |
Held-to-maturity, Gross Unrealized Gains | 167 | 74 |
Held-to-maturity, Gross Unrealized Losses | (13) | (206) |
Held-to-maturity, Fair Value | 13,319 | 13,567 |
U.S. Treasury and Federal Agencies [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Total available for sale investment securities, Amortized Cost | 9,915 | 16,815 |
Gross Unrealized Gains | 2 | 1 |
Gross Unrealized Losses | (16) | (208) |
Available-for-sale Securities, Fair Value | 9,901 | 16,608 |
Corporate Notes [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Total available for sale investment securities, Amortized Cost | 17,608 | 10,666 |
Gross Unrealized Gains | 700 | 107 |
Gross Unrealized Losses | (75) | |
Available-for-sale Securities, Fair Value | $ 18,308 | $ 10,698 |
Securities - Amortized Cost and
Securities - Amortized Cost and Fair Value of Securities Available for Sale and Held to Maturity (Detail) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized cost within one year | $ 26,850 | $ 20,532 |
Amortized cost one to five years | 40,560 | 42,476 |
Amortized cost for five to ten years | 88,574 | 107,839 |
Amortized cost for after ten years | 124,740 | 67,020 |
Total amortized cost | 280,724 | 237,867 |
Total available for sale investment securities, Amortized Cost | 663,268 | 608,909 |
Within one year, amortized cost | 2,481 | 70 |
One to five years, amortized cost | 56,121 | 48,732 |
Five to ten years, amortized cost | 101,195 | 101,809 |
After ten years, amortized cost | 35,922 | 40,658 |
Total amortized cost | 195,719 | 191,269 |
Total held to maturity investment securities, amortized cost | 213,768 | 210,112 |
Fair value within one year | 26,836 | 20,448 |
Fair value for one to five years | 40,333 | 41,705 |
Fair value for five to ten years | 92,128 | 107,107 |
Fair value for after ten years | 129,077 | 67,349 |
Total fair value | 288,374 | 236,609 |
Investment securities, available for sale | 673,419 | 600,348 |
Within one year, fair value | 2,499 | 70 |
One to five years, fair value | 57,124 | 49,324 |
five to ten years, fair value | 104,168 | 101,533 |
After ten years, fair value | 37,904 | 38,749 |
Total fair value | 201,695 | 189,676 |
Held-to-maturity, Fair Value | 219,891 | 208,273 |
Federal Agency Collateralized Mortgage Obligations [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Total available for sale investment securities, Amortized Cost | 229,166 | 187,563 |
Total held to maturity investment securities, amortized cost | 4,884 | 5,144 |
Investment securities, available for sale | 231,522 | 185,003 |
Held-to-maturity, Fair Value | 4,877 | 5,030 |
Federal Agency Mortgage-backed Pools [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Total available for sale investment securities, Amortized Cost | 153,378 | 183,479 |
Total held to maturity investment securities, amortized cost | 13,165 | 13,699 |
Investment securities, available for sale | 153,523 | 178,736 |
Held-to-maturity, Fair Value | $ 13,319 | $ 13,567 |
Securities - Gross Unrealized L
Securities - Gross Unrealized Losses and Fair Value of Company's Investments (Detail) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
Schedule of Available-for-sale Securities [Line Items] | ||
Fair Value less than 12 months | $ 78,320 | $ 92,615 |
Fair value more than 12 months | 151,459 | 398,164 |
Total fair value | 229,779 | 490,779 |
Unrealized losses less than 12 months | (1,041) | (1,767) |
Unrealized losses more than 12 months | (1,548) | (12,794) |
Total unrealized losses | (2,589) | (14,561) |
U.S. Treasury and Federal Agencies [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Fair value more than 12 months | 3,399 | 9,707 |
Total fair value | 3,399 | 9,707 |
Unrealized losses more than 12 months | (16) | (208) |
Total unrealized losses | (16) | (208) |
State and Municipal [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Fair Value less than 12 months | 72,943 | 75,163 |
Fair value more than 12 months | 16,097 | 106,335 |
Total fair value | 89,040 | 181,498 |
Unrealized losses less than 12 months | (1,039) | (1,628) |
Unrealized losses more than 12 months | (307) | (4,316) |
Total unrealized losses | (1,346) | (5,944) |
Federal Agency Collateralized Mortgage Obligations [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Fair Value less than 12 months | 3,706 | 6,450 |
Fair value more than 12 months | 52,991 | 106,257 |
Total fair value | 56,697 | 112,707 |
Unrealized losses less than 12 months | (1) | (25) |
Unrealized losses more than 12 months | (540) | (3,280) |
Total unrealized losses | (541) | (3,305) |
Federal Agency Mortgage-backed Pools [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Fair Value less than 12 months | 1,671 | 5,739 |
Fair value more than 12 months | 78,972 | 175,865 |
Total fair value | 80,643 | 181,604 |
Unrealized losses less than 12 months | (1) | (39) |
Unrealized losses more than 12 months | (685) | (4,990) |
Total unrealized losses | $ (686) | (5,029) |
Corporate Notes [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Fair Value less than 12 months | 5,263 | |
Total fair value | 5,263 | |
Unrealized losses less than 12 months | (75) | |
Total unrealized losses | $ (75) |
Securities - Sales of Securitie
Securities - Sales of Securities Available for Sale (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |
Jun. 30, 2019 | Jun. 30, 2019 | Jun. 30, 2018 | |
Investments, Debt and Equity Securities [Abstract] | |||
Proceeds | $ 74,048 | $ 91,635 | $ 9,836 |
Gross gains | 99 | 158 | 37 |
Gross losses | $ (199) | $ (243) | $ (26) |
Loans - Amounts of Loans (Detai
Loans - Amounts of Loans (Detail) - USD ($) $ in Thousands | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Mortgage warehouse | $ 133,428 | $ 74,120 | ||||
Total loans | 3,664,668 | 3,013,332 | ||||
Allowance for loan losses | (18,305) | $ (17,821) | (17,820) | $ (17,071) | $ (16,474) | $ (16,394) |
Loans, net | 3,646,363 | 2,995,512 | ||||
Commercial [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial/Consumer, Total | 2,062,623 | 1,721,590 | ||||
Real Estate [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Real Estate, Total | 814,065 | 668,141 | ||||
Consumer [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial/Consumer, Total | 654,552 | 549,481 | ||||
Working Capital and Equipment [Member] | Commercial [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial/Consumer, Total | 917,533 | 804,083 | ||||
Real Estate Including Agriculture [Member] | Commercial [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial/Consumer, Total | 1,017,138 | 834,037 | ||||
Tax Exempt Loans Receivable [Member] | Commercial [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial/Consumer, Total | 61,015 | 48,975 | ||||
Other Commercial Loans [Member] | Commercial [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial/Consumer, Total | 66,937 | 34,495 | ||||
1-4 Family [Member] | Real Estate [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Real Estate, Total | 806,390 | 659,754 | ||||
Other Real Estate Loans [Member] | Real Estate [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Real Estate, Total | 7,675 | 8,387 | ||||
Auto [Member] | Consumer [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial/Consumer, Total | 343,876 | 327,413 | ||||
Recreation Consumer Loans Receivable [Member] | Consumer [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial/Consumer, Total | 16,257 | 13,975 | ||||
Real Estate Home Improvement Loans Receivable [Member] | Consumer [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial/Consumer, Total | 44,988 | 39,587 | ||||
Home Equity Loan [Member] | Consumer [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial/Consumer, Total | 239,358 | 163,209 | ||||
Unsecured Debt [Member] | Consumer [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial/Consumer, Total | 7,455 | 4,043 | ||||
Other Consumer Loans [Member] | Consumer [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial/Consumer, Total | $ 2,618 | $ 1,254 |
Loans - Additional Information
Loans - Additional Information (Detail) | 6 Months Ended |
Jun. 30, 2019 | |
Receivables [Abstract] | |
Period of loan sold | 30 days |
Minimum period seldom held | 90 days |
Mortgage warehousing maximum pay off period | 30 days |
Loans - Recorded Investment of
Loans - Recorded Investment of Individual Loan Categories (Detail) - USD ($) $ in Thousands | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loan Balance | $ 3,673,814 | $ 3,016,771 | ||||
Net loans | 3,655,509 | 2,998,951 | ||||
Interest Due | 13,263 | 9,793 | ||||
Deferred Fees / (Costs) | (9,146) | (3,439) | ||||
Recorded Investment | 3,677,931 | 3,023,125 | ||||
Recorded Investment | 3,659,626 | 3,005,305 | ||||
Allowance for loan losses | (18,305) | $ (17,821) | (17,820) | $ (17,071) | $ (16,474) | $ (16,394) |
Commercial [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loan Balance | 2,067,533 | 1,725,369 | ||||
Interest Due | 7,738 | 5,596 | ||||
Deferred Fees / (Costs) | (4,910) | (3,779) | ||||
Recorded Investment | 2,070,361 | 1,727,186 | ||||
Real Estate [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loan Balance | 954,644 | 744,286 | ||||
Interest Due | 3,058 | 2,383 | ||||
Deferred Fees / (Costs) | (7,151) | (2,025) | ||||
Recorded Investment | 950,551 | 744,644 | ||||
Consumer [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loan Balance | 651,637 | 547,116 | ||||
Interest Due | 2,467 | 1,814 | ||||
Deferred Fees / (Costs) | 2,915 | 2,365 | ||||
Recorded Investment | 657,019 | 551,295 | ||||
Owner Occupied Real Estate [Member] | Commercial [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loan Balance | 709,597 | 561,463 | ||||
Interest Due | 1,253 | 1,240 | ||||
Deferred Fees / (Costs) | (1,584) | (1,629) | ||||
Recorded Investment | 709,266 | 561,074 | ||||
Non Owner Occupied Real Estate [Member] | Commercial [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loan Balance | 783,092 | 717,814 | ||||
Interest Due | 1,464 | 1,063 | ||||
Deferred Fees / (Costs) | (1,701) | (1,839) | ||||
Recorded Investment | 782,855 | 717,038 | ||||
Residential Spec Homes [Member] | Commercial [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loan Balance | 14,862 | 5,199 | ||||
Interest Due | 36 | 13 | ||||
Deferred Fees / (Costs) | (24) | (2) | ||||
Recorded Investment | 14,874 | 5,210 | ||||
Development & Spec Land [Member] | Commercial [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loan Balance | 41,102 | 46,547 | ||||
Interest Due | 179 | 131 | ||||
Deferred Fees / (Costs) | 71 | (12) | ||||
Recorded Investment | 41,352 | 46,666 | ||||
Commercial and Industrial [Member] | Commercial [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loan Balance | 518,880 | 394,346 | ||||
Interest Due | 4,806 | 3,149 | ||||
Deferred Fees / (Costs) | (1,672) | (297) | ||||
Recorded Investment | 522,014 | 397,198 | ||||
Residential Mortgage [Member] | Real Estate [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loan Balance | 798,813 | 646,136 | ||||
Interest Due | 2,521 | 1,861 | ||||
Deferred Fees / (Costs) | (7,151) | (2,025) | ||||
Recorded Investment | 794,183 | 645,972 | ||||
Residential Construction [Member] | Real Estate [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loan Balance | 22,403 | 24,030 | ||||
Interest Due | 57 | 42 | ||||
Recorded Investment | 22,460 | 24,072 | ||||
Mortgage Warehousing [Member] | Real Estate [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loan Balance | 133,428 | 74,120 | ||||
Interest Due | 480 | 480 | ||||
Recorded Investment | 133,908 | 74,600 | ||||
Direct Installment [Member] | Consumer [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loan Balance | 46,468 | 38,173 | ||||
Interest Due | 156 | 103 | ||||
Deferred Fees / (Costs) | 808 | 566 | ||||
Recorded Investment | 47,432 | 38,842 | ||||
Indirect Installment [Member] | Consumer [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loan Balance | 329,773 | 314,177 | ||||
Interest Due | 806 | 738 | ||||
Recorded Investment | 330,579 | 314,915 | ||||
Home Equity Loan [Member] | Consumer [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loan Balance | 275,396 | 194,766 | ||||
Interest Due | 1,505 | 973 | ||||
Deferred Fees / (Costs) | 2,107 | 1,799 | ||||
Recorded Investment | $ 279,008 | $ 197,538 |
Accounting for Certain Loans _3
Accounting for Certain Loans Acquired in a Transfer - Amounts of Loans (Detail) - USD ($) $ in Thousands | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Outstanding balance | $ 3,664,668 | $ 3,013,332 | ||||
Allowance for loan losses | 18,305 | $ 17,821 | 17,820 | $ 17,071 | $ 16,474 | $ 16,394 |
Carrying Amount | 3,655,509 | 2,998,951 | ||||
Loans Purchased With Evidence of Credit Deterioration [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Outstanding balance | 22,345 | 15,162 | ||||
Allowance for loan losses | 214 | 60 | ||||
Carrying Amount | 22,131 | 15,102 | ||||
Loans Purchased With Evidence of Credit Deterioration [Member] | Commercial [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Outstanding balance | 17,697 | 13,245 | ||||
Loans Purchased With Evidence of Credit Deterioration [Member] | Real Estate [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Outstanding balance | 3,528 | 1,890 | ||||
Loans Purchased With Evidence of Credit Deterioration [Member] | Consumer [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Outstanding balance | 1,120 | 27 | ||||
Loans Purchased With Evidence of Credit Deterioration [Member] | Heartland [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Outstanding balance | 369 | 407 | ||||
Allowance for loan losses | ||||||
Carrying Amount | 369 | 407 | ||||
Loans Purchased With Evidence of Credit Deterioration [Member] | Heartland [Member] | Commercial [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Outstanding balance | 217 | 232 | ||||
Loans Purchased With Evidence of Credit Deterioration [Member] | Heartland [Member] | Real Estate [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Outstanding balance | 152 | 175 | ||||
Loans Purchased With Evidence of Credit Deterioration [Member] | Heartland [Member] | Consumer [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Outstanding balance | ||||||
Loans Purchased With Evidence of Credit Deterioration [Member] | Summit [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Outstanding balance | 728 | 878 | ||||
Allowance for loan losses | ||||||
Carrying Amount | 728 | 878 | ||||
Loans Purchased With Evidence of Credit Deterioration [Member] | Summit [Member] | Commercial [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Outstanding balance | 213 | 323 | ||||
Loans Purchased With Evidence of Credit Deterioration [Member] | Summit [Member] | Real Estate [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Outstanding balance | 515 | 555 | ||||
Loans Purchased With Evidence of Credit Deterioration [Member] | Summit [Member] | Consumer [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Outstanding balance | ||||||
Loans Purchased With Evidence of Credit Deterioration [Member] | Peoples Bancorp Inc [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Outstanding balance | 289 | 328 | ||||
Allowance for loan losses | ||||||
Carrying Amount | 289 | 328 | ||||
Loans Purchased With Evidence of Credit Deterioration [Member] | Peoples Bancorp Inc [Member] | Commercial [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Outstanding balance | 249 | 270 | ||||
Loans Purchased With Evidence of Credit Deterioration [Member] | Peoples Bancorp Inc [Member] | Real Estate [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Outstanding balance | 40 | 58 | ||||
Loans Purchased With Evidence of Credit Deterioration [Member] | Peoples Bancorp Inc [Member] | Consumer [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Outstanding balance | ||||||
Loans Purchased With Evidence of Credit Deterioration [Member] | Kosciusko Financial Inc [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Outstanding balance | 820 | 901 | ||||
Allowance for loan losses | 195 | |||||
Carrying Amount | 625 | 901 | ||||
Loans Purchased With Evidence of Credit Deterioration [Member] | Kosciusko Financial Inc [Member] | Commercial [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Outstanding balance | 672 | 746 | ||||
Loans Purchased With Evidence of Credit Deterioration [Member] | Kosciusko Financial Inc [Member] | Real Estate [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Outstanding balance | 148 | 155 | ||||
Loans Purchased With Evidence of Credit Deterioration [Member] | Kosciusko Financial Inc [Member] | Consumer [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Outstanding balance | ||||||
Loans Purchased With Evidence of Credit Deterioration [Member] | LaPorte Bancorp Inc [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Outstanding balance | 1,505 | 1,727 | ||||
Allowance for loan losses | 60 | |||||
Carrying Amount | 1,505 | 1,667 | ||||
Loans Purchased With Evidence of Credit Deterioration [Member] | LaPorte Bancorp Inc [Member] | Commercial [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Outstanding balance | 663 | 753 | ||||
Loans Purchased With Evidence of Credit Deterioration [Member] | LaPorte Bancorp Inc [Member] | Real Estate [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Outstanding balance | 818 | 947 | ||||
Loans Purchased With Evidence of Credit Deterioration [Member] | LaPorte Bancorp Inc [Member] | Consumer [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Outstanding balance | 24 | 27 | ||||
Loans Purchased With Evidence of Credit Deterioration [Member] | Lafayette Community Bancorp [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Outstanding balance | 2,002 | 3,080 | ||||
Allowance for loan losses | ||||||
Carrying Amount | 2,002 | 3,080 | ||||
Loans Purchased With Evidence of Credit Deterioration [Member] | Lafayette Community Bancorp [Member] | Commercial [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Outstanding balance | 2,002 | 3,080 | ||||
Loans Purchased With Evidence of Credit Deterioration [Member] | Lafayette Community Bancorp [Member] | Real Estate [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Outstanding balance | ||||||
Loans Purchased With Evidence of Credit Deterioration [Member] | Lafayette Community Bancorp [Member] | Consumer [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Outstanding balance | ||||||
Loans Purchased With Evidence of Credit Deterioration [Member] | Wolverine Bancorp Inc [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Outstanding balance | 5,606 | 7,841 | ||||
Allowance for loan losses | 19 | |||||
Carrying Amount | 5,587 | 7,841 | ||||
Loans Purchased With Evidence of Credit Deterioration [Member] | Wolverine Bancorp Inc [Member] | Commercial [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Outstanding balance | 5,606 | $ 7,841 | ||||
Loans Purchased With Evidence of Credit Deterioration [Member] | Wolverine Bancorp Inc [Member] | Real Estate [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Outstanding balance | ||||||
Loans Purchased With Evidence of Credit Deterioration [Member] | Wolverine Bancorp Inc [Member] | Consumer [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Outstanding balance | ||||||
Loans Purchased With Evidence of Credit Deterioration [Member] | Salin Bank and Trust Company [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Outstanding balance | 11,026 | |||||
Allowance for loan losses | ||||||
Carrying Amount | 11,026 | |||||
Loans Purchased With Evidence of Credit Deterioration [Member] | Salin Bank and Trust Company [Member] | Commercial [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Outstanding balance | 8,075 | |||||
Loans Purchased With Evidence of Credit Deterioration [Member] | Salin Bank and Trust Company [Member] | Real Estate [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Outstanding balance | 1,855 | |||||
Loans Purchased With Evidence of Credit Deterioration [Member] | Salin Bank and Trust Company [Member] | Consumer [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Outstanding balance | $ 1,096 |
Accounting for Certain Loans _4
Accounting for Certain Loans Acquired in a Transfer - Accretable Yield or Income Expected to be Collected (Detail) - Loans Purchased With Evidence of Credit Deterioration [Member] - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2019 | Jun. 30, 2018 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Beginning balance | $ 2,652 | $ 5,165 |
Additions | 735 | |
Accretion | (392) | (931) |
Reclassification from nonaccretable difference | ||
Disposals | (312) | (888) |
Ending balance | 2,683 | 3,346 |
Heartland [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Beginning balance | 174 | 452 |
Additions | ||
Accretion | (16) | (68) |
Reclassification from nonaccretable difference | ||
Disposals | (193) | |
Ending balance | 158 | 191 |
Summit [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Beginning balance | 42 | 147 |
Additions | ||
Accretion | (5) | (34) |
Reclassification from nonaccretable difference | ||
Disposals | (11) | (6) |
Ending balance | 26 | 107 |
Kosciusko Financial Inc [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Beginning balance | 300 | 386 |
Additions | ||
Accretion | (33) | (40) |
Reclassification from nonaccretable difference | ||
Disposals | (1) | |
Ending balance | 266 | 346 |
LaPorte Bancorp Inc [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Beginning balance | 829 | 980 |
Additions | ||
Accretion | (59) | (75) |
Reclassification from nonaccretable difference | ||
Disposals | (7) | |
Ending balance | 770 | 898 |
Lafayette Community Bancorp [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Beginning balance | 609 | 933 |
Additions | ||
Accretion | (67) | (176) |
Reclassification from nonaccretable difference | ||
Disposals | (180) | (2) |
Ending balance | 362 | 755 |
Wolverine Bancorp Inc [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Beginning balance | 698 | 2,267 |
Additions | ||
Accretion | (212) | (538) |
Reclassification from nonaccretable difference | ||
Disposals | (120) | (680) |
Ending balance | 366 | $ 1,049 |
Salin Bank and Trust Company [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Beginning balance | ||
Additions | 735 | |
Accretion | ||
Reclassification from nonaccretable difference | ||
Disposals | ||
Ending balance | $ 735 |
Accounting for Certain Loans _5
Accounting for Certain Loans Acquired in a Transfer - Additional Information (Detail) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Business Acquisition [Line Items] | ||||
Total provision charged to operating expense | $ 896,000 | $ 635,000 | $ 1,260,000 | $ 1,202,000 |
Loans Purchased With Evidence of Credit Deterioration [Member] | ||||
Business Acquisition [Line Items] | ||||
Total provision charged to operating expense | $ 154,000 | $ 0 |
Allowance for Loan Losses - Add
Allowance for Loan Losses - Additional Information (Detail) | 6 Months Ended |
Jun. 30, 2019 | |
Minimum [Member] | |
Financing Receivable, Allowance for Credit Losses [Line Items] | |
Actual loss history experienced by the Company | 1 year |
Maximum [Member] | |
Financing Receivable, Allowance for Credit Losses [Line Items] | |
Actual loss history experienced by the Company | 5 years |
Allowance for loan losses charge down family first and junior lien mortgages past due period | 180 days |
Allowance for loan losses charge down unsecured open end loans past due period | 90 days |
Allowance for loan losses charge down other secured loans past due period | 90 days |
Allowance for Loan Losses - All
Allowance for Loan Losses - Allowance for Loan Losses (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Balance at beginning of the period | $ 17,821 | $ 16,474 | $ 17,820 | $ 16,394 |
Total loans charged-off | 714 | 417 | 1,375 | 1,133 |
Total loan recoveries | 302 | 379 | 600 | 608 |
Net loans charged-off | 412 | 38 | 775 | 525 |
Total provision charged to operating expense | 896 | 635 | 1,260 | 1,202 |
Balance at the end of the period | 18,305 | 17,071 | 18,305 | 17,071 |
Commercial [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Total loans charged-off | 339 | 416 | 13 | |
Total loan recoveries | 74 | 40 | 90 | 91 |
Total provision charged to operating expense | 590 | 985 | 1,712 | (306) |
Commercial [Member] | Owner Occupied Real Estate [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Total loans charged-off | 336 | 337 | 13 | |
Total loan recoveries | 12 | |||
Commercial [Member] | Non Owner Occupied Real Estate [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Total loans charged-off | 64 | |||
Total loan recoveries | 4 | 12 | 10 | 17 |
Commercial [Member] | Residential Spec Homes [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Total loans charged-off | 3 | 3 | ||
Total loan recoveries | 1 | 2 | 3 | 4 |
Commercial [Member] | Commercial and Industrial [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Total loans charged-off | 12 | |||
Total loan recoveries | 69 | 26 | 77 | 58 |
Real Estate [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Total loans charged-off | 48 | 3 | 48 | 15 |
Total loan recoveries | 7 | 5 | 34 | 11 |
Total provision charged to operating expense | 211 | (117) | 104 | (369) |
Real Estate [Member] | Residential Mortgage [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Total loans charged-off | 48 | 3 | 48 | 15 |
Total loan recoveries | 7 | 5 | 34 | 11 |
Consumer [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Total loans charged-off | 327 | 414 | 911 | 1,105 |
Total loan recoveries | 221 | 334 | 476 | 506 |
Total provision charged to operating expense | 95 | (233) | (556) | 1,877 |
Consumer [Member] | Direct Installment [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Total loans charged-off | 37 | 49 | 65 | 104 |
Total loan recoveries | 75 | 21 | 86 | 32 |
Consumer [Member] | Indirect Installment [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Total loans charged-off | 251 | 365 | 791 | 870 |
Total loan recoveries | 182 | 132 | 383 | 271 |
Consumer [Member] | Home Equity Loan [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Total loans charged-off | 39 | 55 | 131 | |
Total loan recoveries | $ (36) | $ 181 | $ 7 | $ 203 |
Allowance for Loan Losses - A_2
Allowance for Loan Losses - Allowance for Loan Losses and Recorded Investment in Loans by Portfolio Segment (Detail) - USD ($) $ in Thousands | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 |
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Allowance For Loan Losses, Individually evaluated for impairment | ||||||
Allowance For Loan Losses, Loans acquired with deteriorated credit quality | ||||||
Total ending allowance balance | 18,305 | $ 17,821 | $ 17,820 | $ 17,071 | $ 16,474 | $ 16,394 |
Loans: Individually evaluated for impairment | ||||||
Loans acquired with deteriorated credit quality | ||||||
Total ending loans balance | 8,641 | $ 8,999 | ||||
Allowance for Loan Losses [Member] | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Allowance For Loan Losses, Individually evaluated for impairment | 787 | 1,035 | ||||
Allowance For Loan Losses, Collectively evaluated for impairment | 17,518 | 16,785 | ||||
Total ending allowance balance | 18,305 | 17,820 | ||||
Commercial [Member] | Allowance for Loan Losses [Member] | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Allowance For Loan Losses, Individually evaluated for impairment | 787 | 1,035 | ||||
Allowance For Loan Losses, Collectively evaluated for impairment | 11,094 | 9,460 | ||||
Total ending allowance balance | 11,881 | 10,495 | ||||
Real Estate [Member] | Allowance for Loan Losses [Member] | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Allowance For Loan Losses, Collectively evaluated for impairment | 1,732 | 1,676 | ||||
Total ending allowance balance | 1,732 | 1,676 | ||||
Consumer [Member] | Allowance for Loan Losses [Member] | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Allowance For Loan Losses, Collectively evaluated for impairment | 3,652 | 4,643 | ||||
Total ending allowance balance | 3,652 | 4,643 | ||||
Loans [Member] | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Loans: Individually evaluated for impairment | 8,641 | 6,708 | ||||
Loans: Collectively evaluated for impairment | 3,665,173 | 3,010,063 | ||||
Total ending loans balance | 3,673,814 | 3,016,771 | ||||
Loans [Member] | Commercial [Member] | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Loans: Individually evaluated for impairment | 8,641 | 6,708 | ||||
Loans: Collectively evaluated for impairment | 2,058,892 | 1,718,661 | ||||
Total ending loans balance | 2,067,533 | 1,725,369 | ||||
Loans [Member] | Real Estate [Member] | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Loans: Collectively evaluated for impairment | 821,216 | 670,166 | ||||
Total ending loans balance | 821,216 | 670,166 | ||||
Loans [Member] | Consumer [Member] | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Loans: Collectively evaluated for impairment | 651,637 | 547,116 | ||||
Total ending loans balance | 651,637 | 547,116 | ||||
Mortgage Warehousing [Member] | Allowance for Loan Losses [Member] | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Allowance For Loan Losses, Collectively evaluated for impairment | 1,040 | 1,006 | ||||
Total ending allowance balance | 1,040 | 1,006 | ||||
Mortgage Warehousing [Member] | Loans [Member] | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Loans: Collectively evaluated for impairment | 133,428 | 74,120 | ||||
Total ending loans balance | $ 133,428 | $ 74,120 |
Non-performing Loans and Impa_3
Non-performing Loans and Impaired Loans - Non-accrual, Loans Past Due Over 90 Days Still on Accrual, and Troubled Debt Restructured ("TDRs") by Class of Loans (Detail) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Non-accrual | $ 14,764 | $ 11,548 |
Loans Past Due Over 90 Days Still Accruing | 391 | 568 |
Non-Performing TDRs | 1,576 | 1,057 |
Performing TDRs | 2,198 | 2,002 |
Total Non-Performing Loans | 18,929 | 15,175 |
Commercial [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Non-accrual | 7,471 | 6,094 |
Loans Past Due Over 90 Days Still Accruing | 63 | 208 |
Non-Performing TDRs | 1,024 | 492 |
Performing TDRs | 139 | 109 |
Total Non-Performing Loans | 8,697 | 6,903 |
Commercial [Member] | Owner Occupied Real Estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Non-accrual | 3,694 | 3,413 |
Loans Past Due Over 90 Days Still Accruing | 63 | |
Non-Performing TDRs | 389 | |
Performing TDRs | 139 | 109 |
Total Non-Performing Loans | 4,285 | 3,522 |
Commercial [Member] | Non Owner Occupied Real Estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Non-accrual | 616 | 554 |
Non-Performing TDRs | 635 | 492 |
Total Non-Performing Loans | 1,251 | 1,046 |
Commercial [Member] | Development & Spec Land [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Non-accrual | 140 | 68 |
Total Non-Performing Loans | 140 | 68 |
Commercial [Member] | Commercial and Industrial [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Non-accrual | 3,021 | 2,059 |
Loans Past Due Over 90 Days Still Accruing | 208 | |
Total Non-Performing Loans | 3,021 | 2,267 |
Real Estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Non-accrual | 4,219 | 2,846 |
Loans Past Due Over 90 Days Still Accruing | 77 | 180 |
Non-Performing TDRs | 416 | 423 |
Performing TDRs | 1,732 | 1,558 |
Total Non-Performing Loans | 6,444 | 5,007 |
Real Estate [Member] | Residential Mortgage [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Non-accrual | 4,219 | 2,846 |
Loans Past Due Over 90 Days Still Accruing | 77 | 180 |
Non-Performing TDRs | 416 | 423 |
Performing TDRs | 1,732 | 1,558 |
Total Non-Performing Loans | 6,444 | 5,007 |
Consumer [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Non-accrual | 3,074 | 2,608 |
Loans Past Due Over 90 Days Still Accruing | 251 | 180 |
Non-Performing TDRs | 136 | 142 |
Performing TDRs | 327 | 335 |
Total Non-Performing Loans | 3,788 | 3,265 |
Consumer [Member] | Direct Installment [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Non-accrual | 36 | 35 |
Total Non-Performing Loans | 36 | 35 |
Consumer [Member] | Indirect Installment [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Non-accrual | 1,129 | 916 |
Loans Past Due Over 90 Days Still Accruing | 156 | 173 |
Total Non-Performing Loans | 1,285 | 1,089 |
Consumer [Member] | Home Equity Loan [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Non-accrual | 1,909 | 1,657 |
Loans Past Due Over 90 Days Still Accruing | 95 | 7 |
Non-Performing TDRs | 136 | 142 |
Performing TDRs | 327 | 335 |
Total Non-Performing Loans | $ 2,467 | $ 2,141 |
Non-performing Loans and Impa_4
Non-performing Loans and Impaired Loans - Additional Information (Detail) | 6 Months Ended | |
Jun. 30, 2019USD ($)ConsecutivePayment | Dec. 31, 2018USD ($) | |
Financing Receivable, Modifications [Line Items] | ||
Non-accrual loans | $ 14,764,000 | $ 11,548,000 |
Non-performing TDRs | $ 1,600,000 | |
Loan delinquency period | 90 days | |
Minimum period required for satisfactory performance to return loan from non-accrual to accrual status | 6 months | |
Restructured loan reported in TDRs | $ 3,800,000 | |
Restructured loan returned to accruing status number of Consecutive Payments of loan | ConsecutivePayment | 6 | |
Specific reserves allocated to troubled debt restructuring | $ 20,000 | |
Performing Financing Receivable [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Restructured loan reported in TDRs | $ 2,200,000 | |
Number TDRs returned to accrual status | ConsecutivePayment | 0 | |
Loans Purchased With Evidence of Credit Deterioration [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Non-accrual loans | $ 2,400,000 | |
Non-performing TDRs | $ 640,000 | |
Minimum [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Loan delinquency period | 90 days | |
Delay or shortfall in payments of loan | 30 days | |
Loans with an aggregate credit exposure | $ 1,000,000 | |
Loans classified as TDR after a period | 90 days | |
Minimum [Member] | Good Pass [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of consecutive years of profit Unaudited Financial Information for Good Pass Rating | 5 years | |
Number of years of Satisfactory Relationship with bank for Good Pass Rating | 5 years | |
Minimum [Member] | Satisfactory Pass [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of consecutive years of profit for Good Pass Rating | 3 years | |
Maximum [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Loans with an aggregate credit exposure | $ 3,500,000 | |
Loans classified as TDR after a period | 120 days | |
Minimum number of years of Satisfactory Repayment required for Satisfactory Pass Rating | 2 years |
Non-performing Loans and Impa_5
Non-performing Loans and Impaired Loans - Commercial Loans Individually Evaluated for Impairment by Class of Loans (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Financing Receivable, Impaired [Line Items] | ||||
Unpaid Principal Balance total | $ 8,634 | $ 8,988 | $ 8,634 | $ 8,988 |
Total ending loans balance | 8,641 | 8,999 | 8,641 | 8,999 |
Allowance For Loan Loss Allocated | 787 | 184 | 787 | 184 |
Average Balance in Impaired Loans total | 11,305 | 9,720 | 11,358 | 9,706 |
Cash/Accrual Interest Income Recognized, Total | 161 | 71 | 253 | 113 |
Commercial [Member] | ||||
Financing Receivable, Impaired [Line Items] | ||||
Unpaid Principal Balance With no recorded allowance | 6,904 | 8,124 | 6,904 | 8,124 |
Recorded Investment With no recorded allowance | 6,911 | 8,135 | 6,911 | 8,135 |
Average Balance in Impaired Loans With no recorded allowance | 9,546 | 8,849 | 9,600 | 8,821 |
Cash/Accrual Interest Income Recognized, With no recorded allowance | 126 | 71 | 218 | 113 |
Unpaid Principal Balance With an allowance recorded | 1,730 | 864 | 1,730 | 864 |
Recorded Investment With an allowance recorded | 1,730 | 864 | 1,730 | 864 |
Allowance For Loan Loss Allocated | 787 | 184 | 787 | 184 |
Average Balance in Impaired Loans With an allowance recorded | 1,759 | 871 | 1,758 | 885 |
Cash/Accrual Interest Income Recognized, With an allowance recorded | 35 | 35 | ||
Commercial [Member] | Owner Occupied Real Estate [Member] | ||||
Financing Receivable, Impaired [Line Items] | ||||
Unpaid Principal Balance With no recorded allowance | 3,851 | 4,765 | 3,851 | 4,765 |
Recorded Investment With no recorded allowance | 3,851 | 4,762 | 3,851 | 4,762 |
Average Balance in Impaired Loans With no recorded allowance | 5,987 | 5,271 | 6,005 | 5,303 |
Cash/Accrual Interest Income Recognized, With no recorded allowance | 76 | 59 | 130 | 96 |
Unpaid Principal Balance With an allowance recorded | 371 | 864 | 371 | 864 |
Recorded Investment With an allowance recorded | 371 | 864 | 371 | 864 |
Allowance For Loan Loss Allocated | 3 | 184 | 3 | 184 |
Average Balance in Impaired Loans With an allowance recorded | 372 | 871 | 365 | 885 |
Cash/Accrual Interest Income Recognized, With an allowance recorded | 10 | 10 | ||
Commercial [Member] | Non Owner Occupied Real Estate [Member] | ||||
Financing Receivable, Impaired [Line Items] | ||||
Unpaid Principal Balance With no recorded allowance | 1,116 | 1,344 | 1,116 | 1,344 |
Recorded Investment With no recorded allowance | 1,143 | 1,360 | 1,143 | 1,360 |
Average Balance in Impaired Loans With no recorded allowance | 1,260 | 1,591 | 1,293 | 1,559 |
Cash/Accrual Interest Income Recognized, With no recorded allowance | 33 | 5 | 64 | 10 |
Unpaid Principal Balance With an allowance recorded | 135 | 135 | ||
Recorded Investment With an allowance recorded | 135 | 135 | ||
Allowance For Loan Loss Allocated | 40 | 40 | ||
Average Balance in Impaired Loans With an allowance recorded | 135 | 135 | ||
Commercial [Member] | Development & Spec Land [Member] | ||||
Financing Receivable, Impaired [Line Items] | ||||
Unpaid Principal Balance With no recorded allowance | 140 | 72 | 140 | 72 |
Recorded Investment With no recorded allowance | 139 | 70 | 139 | 70 |
Average Balance in Impaired Loans With no recorded allowance | 226 | 71 | 224 | 73 |
Cash/Accrual Interest Income Recognized, With no recorded allowance | 2 | 2 | ||
Commercial [Member] | Commercial and Industrial [Member] | ||||
Financing Receivable, Impaired [Line Items] | ||||
Unpaid Principal Balance With no recorded allowance | 1,797 | 1,943 | 1,797 | 1,943 |
Recorded Investment With no recorded allowance | 1,778 | 1,943 | 1,778 | 1,943 |
Average Balance in Impaired Loans With no recorded allowance | 2,073 | 1,916 | 2,078 | 1,886 |
Cash/Accrual Interest Income Recognized, With no recorded allowance | 15 | $ 7 | 22 | $ 7 |
Unpaid Principal Balance With an allowance recorded | 1,224 | 1,224 | ||
Recorded Investment With an allowance recorded | 1,224 | 1,224 | ||
Allowance For Loan Loss Allocated | 744 | 744 | ||
Average Balance in Impaired Loans With an allowance recorded | 1,252 | 1,258 | ||
Cash/Accrual Interest Income Recognized, With an allowance recorded | $ 25 | $ 25 |
Non-performing Loans and Impa_6
Non-performing Loans and Impaired Loans - Payment Status by Class of Loan (Detail) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current | $ 3,647,450 | $ 2,996,548 |
Total Past Due | 16,340 | 12,605 |
Loans Not Past Due | 26,364 | 20,334 |
Total | $ 3,673,814 | $ 3,016,771 |
Total Past Due, Percentage of Total Loans | 0.44% | 0.42% |
Loans Not Past Due, Percentage of Total Loans | 0.72% | 0.67% |
Current,Percentage of total loans | 99.28% | 99.33% |
Commercial [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current | $ 2,054,695 | $ 1,715,104 |
Total Past Due | 8,495 | 6,586 |
Loans Not Past Due | 12,838 | 10,265 |
Total | 2,067,533 | 1,725,369 |
Commercial [Member] | Owner Occupied Real Estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current | 705,186 | 556,516 |
Total Past Due | 4,083 | 3,413 |
Loans Not Past Due | 4,411 | 4,947 |
Total | 709,597 | 561,463 |
Commercial [Member] | Non Owner Occupied Real Estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current | 781,012 | 716,574 |
Total Past Due | 1,251 | 1,046 |
Loans Not Past Due | 2,080 | 1,240 |
Total | 783,092 | 717,814 |
Commercial [Member] | Residential Spec Homes [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current | 14,862 | 4,707 |
Loans Not Past Due | 492 | |
Total | 14,862 | 5,199 |
Commercial [Member] | Development & Spec Land [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current | 40,509 | 46,479 |
Total Past Due | 140 | 68 |
Loans Not Past Due | 593 | 68 |
Total | 41,102 | 46,547 |
Commercial [Member] | Commercial and Industrial [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current | 513,126 | 390,828 |
Total Past Due | 3,021 | 2,059 |
Loans Not Past Due | 5,754 | 3,518 |
Total | 518,880 | 394,346 |
Real Estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current | 947,535 | 739,650 |
Total Past Due | 4,635 | 3,269 |
Loans Not Past Due | 7,109 | 4,636 |
Total | 954,644 | 744,286 |
Real Estate [Member] | Residential Mortgage [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current | 791,704 | 641,500 |
Total Past Due | 4,635 | 3,269 |
Loans Not Past Due | 7,109 | 4,636 |
Total | 798,813 | 646,136 |
Real Estate [Member] | Residential Construction [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current | 22,403 | 24,030 |
Total | 22,403 | 24,030 |
Real Estate [Member] | Mortgage Warehousing [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current | 133,428 | 74,120 |
Total | 133,428 | 74,120 |
Consumer [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current | 645,220 | 541,794 |
Total Past Due | 3,210 | 2,750 |
Loans Not Past Due | 6,417 | 5,433 |
Total | 651,637 | 547,116 |
Consumer [Member] | Direct Installment [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current | 46,203 | 38,027 |
Total Past Due | 36 | 35 |
Loans Not Past Due | 265 | 146 |
Total | 46,468 | 38,173 |
Consumer [Member] | Indirect Installment [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current | 326,970 | 311,494 |
Total Past Due | 1,129 | 916 |
Loans Not Past Due | 2,803 | 2,683 |
Total | 329,773 | 314,177 |
Consumer [Member] | Home Equity Loan [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current | 272,047 | 192,162 |
Total Past Due | 2,045 | 1,799 |
Loans Not Past Due | 3,349 | 2,604 |
Total | 275,396 | 194,766 |
30 - 59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | $ 8,141 | $ 5,100 |
Total Past Due, Percentage of Total Loans | 0.22% | 0.17% |
30 - 59 Days Past Due [Member] | Commercial [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | $ 3,781 | $ 1,719 |
30 - 59 Days Past Due [Member] | Commercial [Member] | Owner Occupied Real Estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 265 | 537 |
30 - 59 Days Past Due [Member] | Commercial [Member] | Non Owner Occupied Real Estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 829 | 175 |
30 - 59 Days Past Due [Member] | Commercial [Member] | Residential Spec Homes [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 492 | |
30 - 59 Days Past Due [Member] | Commercial [Member] | Development & Spec Land [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 453 | |
30 - 59 Days Past Due [Member] | Commercial [Member] | Commercial and Industrial [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 2,234 | 515 |
30 - 59 Days Past Due [Member] | Real Estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 2,272 | 1,131 |
30 - 59 Days Past Due [Member] | Real Estate [Member] | Residential Mortgage [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 2,272 | 1,131 |
30 - 59 Days Past Due [Member] | Consumer [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 2,088 | 2,250 |
30 - 59 Days Past Due [Member] | Consumer [Member] | Direct Installment [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 180 | 93 |
30 - 59 Days Past Due [Member] | Consumer [Member] | Indirect Installment [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 1,268 | 1,396 |
30 - 59 Days Past Due [Member] | Consumer [Member] | Home Equity Loan [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 640 | 761 |
60 - 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | $ 1,492 | $ 2,061 |
Total Past Due, Percentage of Total Loans | 0.04% | 0.07% |
60 - 89 Days Past Due [Member] | Commercial [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | $ 499 | $ 1,752 |
60 - 89 Days Past Due [Member] | Commercial [Member] | Owner Occupied Real Estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 997 | |
60 - 89 Days Past Due [Member] | Commercial [Member] | Non Owner Occupied Real Estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 19 | |
60 - 89 Days Past Due [Member] | Commercial [Member] | Commercial and Industrial [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 499 | 736 |
60 - 89 Days Past Due [Member] | Real Estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 125 | 56 |
60 - 89 Days Past Due [Member] | Real Estate [Member] | Residential Mortgage [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 125 | 56 |
60 - 89 Days Past Due [Member] | Consumer [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 868 | 253 |
60 - 89 Days Past Due [Member] | Consumer [Member] | Direct Installment [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 49 | 18 |
60 - 89 Days Past Due [Member] | Consumer [Member] | Indirect Installment [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 250 | 198 |
60 - 89 Days Past Due [Member] | Consumer [Member] | Home Equity Loan [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 569 | 37 |
Greater than 90 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | $ 391 | $ 568 |
Total Past Due, Percentage of Total Loans | 0.01% | 0.02% |
Greater than 90 Days Past Due [Member] | Commercial [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | $ 63 | $ 208 |
Greater than 90 Days Past Due [Member] | Commercial [Member] | Owner Occupied Real Estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 63 | |
Greater than 90 Days Past Due [Member] | Commercial [Member] | Commercial and Industrial [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 208 | |
Greater than 90 Days Past Due [Member] | Real Estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 77 | 180 |
Greater than 90 Days Past Due [Member] | Real Estate [Member] | Residential Mortgage [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 77 | 180 |
Greater than 90 Days Past Due [Member] | Consumer [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 251 | 180 |
Greater than 90 Days Past Due [Member] | Consumer [Member] | Indirect Installment [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 156 | 173 |
Greater than 90 Days Past Due [Member] | Consumer [Member] | Home Equity Loan [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | $ 95 | $ 7 |
Non-performing Loans and Impa_7
Non-performing Loans and Impaired Loans - Loans by Credit Grades (Detail) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
Financing Receivable, Recorded Investment [Line Items] | ||
Total | $ 3,673,814 | $ 3,016,771 |
Commercial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 2,067,533 | 1,725,369 |
Commercial [Member] | Owner Occupied Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 709,597 | 561,463 |
Commercial [Member] | Non Owner Occupied Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 783,092 | 717,814 |
Commercial [Member] | Residential Development [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 14,862 | 5,199 |
Commercial [Member] | Development & Spec Land [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 41,102 | 46,547 |
Commercial [Member] | Commercial and Industrial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 518,880 | 394,346 |
Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 954,644 | 744,286 |
Real Estate [Member] | Residential Mortgage [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 798,813 | 646,136 |
Real Estate [Member] | Residential Construction [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 22,403 | 24,030 |
Real Estate [Member] | Mortgage Warehousing [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 133,428 | 74,120 |
Consumer [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 651,637 | 547,116 |
Consumer [Member] | Direct Installment [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 46,468 | 38,173 |
Consumer [Member] | Indirect Installment [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 329,773 | 314,177 |
Consumer [Member] | Home Equity Loan [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 275,396 | 194,766 |
Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | $ 3,582,026 | $ 2,954,944 |
Percentage of total loans | 97.50% | 97.95% |
Pass [Member] | Commercial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | $ 1,985,899 | $ 1,671,634 |
Pass [Member] | Commercial [Member] | Owner Occupied Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 686,630 | 538,177 |
Pass [Member] | Commercial [Member] | Non Owner Occupied Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 764,517 | 702,269 |
Pass [Member] | Commercial [Member] | Residential Development [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 14,862 | 5,199 |
Pass [Member] | Commercial [Member] | Development & Spec Land [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 37,847 | 46,382 |
Pass [Member] | Commercial [Member] | Commercial and Industrial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 482,043 | 379,607 |
Pass [Member] | Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 948,277 | 739,459 |
Pass [Member] | Real Estate [Member] | Residential Mortgage [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 792,446 | 641,309 |
Pass [Member] | Real Estate [Member] | Residential Construction [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 22,403 | 24,030 |
Pass [Member] | Real Estate [Member] | Mortgage Warehousing [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 133,428 | 74,120 |
Pass [Member] | Consumer [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 647,850 | 543,851 |
Pass [Member] | Consumer [Member] | Direct Installment [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 46,433 | 38,138 |
Pass [Member] | Consumer [Member] | Indirect Installment [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 328,488 | 313,088 |
Pass [Member] | Consumer [Member] | Home Equity Loan [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 272,929 | 192,625 |
Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | $ 44,024 | $ 23,052 |
Percentage of total loans | 1.20% | 0.76% |
Special Mention [Member] | Commercial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | $ 44,024 | $ 23,052 |
Special Mention [Member] | Commercial [Member] | Owner Occupied Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 5,711 | 6,618 |
Special Mention [Member] | Commercial [Member] | Non Owner Occupied Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 13,002 | 9,682 |
Special Mention [Member] | Commercial [Member] | Development & Spec Land [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 97 | 97 |
Special Mention [Member] | Commercial [Member] | Commercial and Industrial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 25,214 | 6,655 |
Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | $ 47,764 | $ 38,775 |
Percentage of total loans | 1.30% | 1.29% |
Substandard [Member] | Commercial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | $ 37,610 | $ 30,683 |
Substandard [Member] | Commercial [Member] | Owner Occupied Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 17,256 | 16,668 |
Substandard [Member] | Commercial [Member] | Non Owner Occupied Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 5,573 | 5,863 |
Substandard [Member] | Commercial [Member] | Development & Spec Land [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 3,158 | 68 |
Substandard [Member] | Commercial [Member] | Commercial and Industrial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 11,623 | 8,084 |
Substandard [Member] | Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 6,367 | 4,827 |
Substandard [Member] | Real Estate [Member] | Residential Mortgage [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 6,367 | 4,827 |
Substandard [Member] | Consumer [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 3,787 | 3,265 |
Substandard [Member] | Consumer [Member] | Direct Installment [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 35 | 35 |
Substandard [Member] | Consumer [Member] | Indirect Installment [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 1,285 | 1,089 |
Substandard [Member] | Consumer [Member] | Home Equity Loan [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | $ 2,467 | $ 2,141 |
Doubtful [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Percentage of total loans | 0.00% | 0.00% |
Leases - Additional Information
Leases - Additional Information (Detail) - USD ($) | 3 Months Ended | 6 Months Ended | |
Jun. 30, 2019 | Jun. 30, 2019 | Jan. 01, 2019 | |
Operating Lease, Right-of-Use Asset | $ 3,400,000 | ||
Operating Lease, Liability | $ 3,130,000 | $ 3,130,000 | |
Operating Lease, Expense | $ 149,000 | $ 297,000 | |
Operating leases terms | 7 years | 7 years | |
Weighted average discount rate, percentage | 2.57% | 2.57% | |
Other Assets [Member] | |||
Operating Lease, Right-of-Use Asset | $ 3,100,000 | $ 3,100,000 | |
Other Liabilities [Member] | |||
Operating Lease, Liability | $ 3,300,000 | $ 3,300,000 |
Leases - Schedule Of Future Min
Leases - Schedule Of Future Minimum Rental Payments For Operating Leases (Detail) $ in Thousands | Jun. 30, 2019USD ($) |
2019 | $ 240 |
2020 | 476 |
2021 | 476 |
2022 | 504 |
2023 and thereafter | 1,609 |
Total lease payments | 3,305 |
Less: Interest | (175) |
Present value of lease liabilities | $ 3,130 |
Repurchase Agreements - Summary
Repurchase Agreements - Summary of Repurchase Agreements Accounted as Secured Borrowings (Detail) $ in Thousands | Jun. 30, 2019USD ($) |
Assets Sold under Agreements to Repurchase [Line Items] | |
Repurchase Agreements | $ 92,256 |
Securities pledged for Repurchase Agreements, Total | 104,867 |
Federal Agency Collateralized Mortgage Obligations [Member] | |
Assets Sold under Agreements to Repurchase [Line Items] | |
Securities pledged for Repurchase Agreements, Total | 36,183 |
Federal Agency Mortgage-backed Pools [Member] | |
Assets Sold under Agreements to Repurchase [Line Items] | |
Securities pledged for Repurchase Agreements, Total | 68,684 |
Remaining Contractual Maturity of the Agreements, Overnight and Continuous [Member] | |
Assets Sold under Agreements to Repurchase [Line Items] | |
Repurchase Agreements | 92,256 |
Securities pledged for Repurchase Agreements, Total | 104,867 |
Remaining Contractual Maturity of the Agreements, Overnight and Continuous [Member] | Federal Agency Collateralized Mortgage Obligations [Member] | |
Assets Sold under Agreements to Repurchase [Line Items] | |
Securities pledged for Repurchase Agreements, Total | 36,183 |
Remaining Contractual Maturity of the Agreements, Overnight and Continuous [Member] | Federal Agency Mortgage-backed Pools [Member] | |
Assets Sold under Agreements to Repurchase [Line Items] | |
Securities pledged for Repurchase Agreements, Total | $ 68,684 |
Derivative Financial Instrume_3
Derivative Financial Instruments - Additional Information (Detail) - USD ($) $ in Millions | 6 Months Ended | |
Jun. 30, 2019 | Dec. 31, 2018 | |
Derivative [Line Items] | ||
LIBOR period | 3 months | |
Weighted average fixed rate | 5.81% | |
Recorded period of effectiveness of cash flow hedges on net income | 12 months | |
Recorded period of effectiveness of fair value hedges on net income | 12 months | |
Recorded period of effectiveness of fair value of derivatives on net income | 12 months | |
Interest Rate Swap [Member] | ||
Derivative [Line Items] | ||
LIBOR period | 1 month | |
Weighted average fixed rate | 2.81% | |
LaPorte Bancorp Inc [Member] | ||
Derivative [Line Items] | ||
LIBOR period | 1 month | |
Weighted average fixed rate | 2.31% | |
Cash Flow Hedging [Member] | ||
Derivative [Line Items] | ||
Notional amount of interest | $ 30.5 | $ 30.5 |
Cash Flow Hedging [Member] | Interest Rate Swap [Member] | ||
Derivative [Line Items] | ||
Notional amount of interest | 50 | 50 |
Cash Flow Hedging [Member] | LaPorte Bancorp Inc [Member] | ||
Derivative [Line Items] | ||
Notional amount of interest | 30 | 30 |
Derivative in Fair Value Hedging Relationship [Member] | ||
Derivative [Line Items] | ||
Notional amount of interest | $ 258.2 | $ 209.2 |
Derivative Financial Instrume_4
Derivative Financial Instruments - Fair Value of Derivative Financial Instruments (Detail) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
Derivatives, Fair Value [Line Items] | ||
Total Asset Derivatives | $ 12,089 | $ 177 |
Total Liability Derivatives | 16,389 | 1,802 |
Derivatives Designated as Hedging Instruments [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Total Asset Derivatives | 11,622 | 42 |
Total Liability Derivatives | 16,389 | 1,802 |
Derivatives Designated as Hedging Instruments [Member] | Interest Rate Contracts One [Member] | Other Liabilities [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Total Liability Derivatives | 42 | |
Derivatives Designated as Hedging Instruments [Member] | Interest Rate Contracts One [Member] | Other Assets [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Total Asset Derivatives | 11,622 | |
Derivatives Designated as Hedging Instruments [Member] | Interest Rate Contracts Two [Member] | Other Liabilities [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Total Liability Derivatives | 16,389 | 1,760 |
Derivatives Designated as Hedging Instruments [Member] | Interest Rate Contracts Two [Member] | Other Assets [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Total Asset Derivatives | 42 | |
Derivatives Not Designated as Hedging Instruments [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Total Asset Derivatives | 467 | 135 |
Derivatives Not Designated as Hedging Instruments [Member] | Mortgage Loan Contracts [Member] | Other Assets [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Total Asset Derivatives | $ 467 | $ 135 |
Derivative Financial Instrume_5
Derivative Financial Instruments - Effect of Derivative Instruments on Condensed Consolidated Statements of Income Derivative in Cash Flow Hedging Relationship (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||||
Comprehensive Income on Derivative (Effective Portion) | $ (1,901) | $ 354 | $ (3,007) | $ 1,113 |
Cash Flow Hedging [Member] | Interest Rate Contracts One [Member] | ||||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||||
Comprehensive Income on Derivative (Effective Portion) | $ (1,502) | $ 279 | $ (2,376) | $ 879 |
Derivative Financial Instrume_6
Derivative Financial Instruments - Effect of Derivative Instruments on Consolidated Statements of Income Derivative in Fair Value Hedging Relationship (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Derivative in Fair Value Hedging Relationship [Member] | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Amount of Gain (Loss) Recognized on Derivative | ||||
Interest Income - Loans [Member] | Derivative in Fair Value Hedging Relationship [Member] | Interest Rate Contracts One [Member] | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Amount of Gain (Loss) Recognized on Derivative | (7,529) | $ 2,768 | (11,580) | $ 574 |
Interest Income - Loans [Member] | Derivative in Fair Value Hedging Relationship [Member] | Interest Rate Contracts Two [Member] | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Amount of Gain (Loss) Recognized on Derivative | 7,529 | (2,768) | 11,580 | (574) |
Derivatives Not Designated as Hedging Instruments [Member] | Other income - Gain on Sale of Loans [Member] | Mortgage Loan Contracts [Member] | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Amount of Gain (Loss) Recognized on Derivative | $ 75 | $ 112 | $ 332 | $ 195 |
Disclosures about Fair Value _3
Disclosures about Fair Value of Assets and Liabilities - Additional Information (Detail) - USD ($) | 6 Months Ended | |
Jun. 30, 2019 | Jun. 30, 2018 | |
Fair Value Disclosures [Abstract] | ||
Reduced in carrying amount of mortgage servicing rights | $ 11,000 | $ 24,000 |
Disclosures about Fair Value _4
Disclosures about Fair Value of Assets and Liabilities - Fair Value Measurements of Assets and Liabilities Recognized on a Recurring Basis (Detail) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total available-for-sale securities, Fair Value | $ 673,419 | $ 600,348 |
U.S. Treasury and Federal Agencies [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total available-for-sale securities, Fair Value | 9,901 | 16,608 |
State and Municipal [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total available-for-sale securities, Fair Value | 260,165 | 209,303 |
Federal Agency Collateralized Mortgage Obligations [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total available-for-sale securities, Fair Value | 231,522 | 185,003 |
Federal Agency Mortgage-backed Pools [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total available-for-sale securities, Fair Value | 153,523 | 178,736 |
Corporate Notes [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total available-for-sale securities, Fair Value | 18,308 | 10,698 |
Recurring Basis [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total available-for-sale securities, Fair Value | 673,419 | 600,348 |
Recurring Basis [Member] | U.S. Treasury and Federal Agencies [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total available-for-sale securities, Fair Value | 9,901 | 16,608 |
Recurring Basis [Member] | State and Municipal [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total available-for-sale securities, Fair Value | 260,165 | 209,303 |
Recurring Basis [Member] | Federal Agency Collateralized Mortgage Obligations [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total available-for-sale securities, Fair Value | 231,522 | 185,003 |
Recurring Basis [Member] | Federal Agency Mortgage-backed Pools [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total available-for-sale securities, Fair Value | 153,523 | 178,736 |
Recurring Basis [Member] | Corporate Notes [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total available-for-sale securities, Fair Value | 18,308 | 10,698 |
Recurring Basis [Member] | Hedged Loans [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivatives, fair value | 258,180 | 209,161 |
Recurring Basis [Member] | Forward Sale Commitments [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivatives, fair value | 467 | 135 |
Recurring Basis [Member] | Interest Rate Swap [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivatives, fair value | (16,389) | (1,801) |
Recurring Basis [Member] | Significant Other Observable Inputs (Level 2) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total available-for-sale securities, Fair Value | 673,419 | 600,348 |
Recurring Basis [Member] | Significant Other Observable Inputs (Level 2) [Member] | U.S. Treasury and Federal Agencies [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total available-for-sale securities, Fair Value | 9,901 | 16,608 |
Recurring Basis [Member] | Significant Other Observable Inputs (Level 2) [Member] | State and Municipal [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total available-for-sale securities, Fair Value | 260,165 | 209,303 |
Recurring Basis [Member] | Significant Other Observable Inputs (Level 2) [Member] | Federal Agency Collateralized Mortgage Obligations [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total available-for-sale securities, Fair Value | 231,522 | 185,003 |
Recurring Basis [Member] | Significant Other Observable Inputs (Level 2) [Member] | Federal Agency Mortgage-backed Pools [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total available-for-sale securities, Fair Value | 153,523 | 178,736 |
Recurring Basis [Member] | Significant Other Observable Inputs (Level 2) [Member] | Corporate Notes [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total available-for-sale securities, Fair Value | 18,308 | 10,698 |
Recurring Basis [Member] | Significant Other Observable Inputs (Level 2) [Member] | Hedged Loans [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivatives, fair value | 258,180 | 209,161 |
Recurring Basis [Member] | Significant Other Observable Inputs (Level 2) [Member] | Forward Sale Commitments [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivatives, fair value | 467 | 135 |
Recurring Basis [Member] | Significant Other Observable Inputs (Level 2) [Member] | Interest Rate Swap [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivatives, fair value | $ (16,389) | $ (1,801) |
Disclosures about Fair Value _5
Disclosures about Fair Value of Assets and Liabilities - Realized Gains and Losses included in Net Income for Periods in Consolidated Statements of Income (Detail) - Non Interest Income Total Gains and Losses [Member] - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Included in net income | $ 75 | $ 71 | $ 332 | $ 183 |
Hedged Loans [Member] | ||||
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Included in net income | (7,529) | 976 | (11,580) | 3,744 |
Interest Rate Swap [Member] | ||||
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Included in net income | 7,529 | (976) | 11,580 | (3,744) |
Derivative Loan Commitments [Member] | ||||
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Included in net income | $ 75 | $ 71 | $ 332 | $ 183 |
Disclosures about Fair Value _6
Disclosures about Fair Value of Assets and Liabilities - Other Assets Measured at Fair Value on Nonrecurring Basis (Detail) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
Significant Unobservable Inputs (Level 3) [Member] | Impaired Loans [Member] | ||
Fair Value Of Assets And Liabilities Measured On Non Recurring Basis [Line Items] | ||
Impaired loans | $ 7,847 | $ 5,661 |
Significant Unobservable Inputs (Level 3) [Member] | Mortgage Servicing Rights [Member] | ||
Fair Value Of Assets And Liabilities Measured On Non Recurring Basis [Line Items] | ||
Impaired loans | 13,652 | 12,349 |
Fair Value, Measurements, Nonrecurring [Member] | Impaired Loans [Member] | ||
Fair Value Of Assets And Liabilities Measured On Non Recurring Basis [Line Items] | ||
Impaired loans | 7,847 | 5,661 |
Fair Value, Measurements, Nonrecurring [Member] | Mortgage Servicing Rights [Member] | ||
Fair Value Of Assets And Liabilities Measured On Non Recurring Basis [Line Items] | ||
Impaired loans | 13,652 | 12,349 |
Fair Value, Measurements, Nonrecurring [Member] | Significant Unobservable Inputs (Level 3) [Member] | Impaired Loans [Member] | ||
Fair Value Of Assets And Liabilities Measured On Non Recurring Basis [Line Items] | ||
Impaired loans | 7,847 | 5,661 |
Fair Value, Measurements, Nonrecurring [Member] | Significant Unobservable Inputs (Level 3) [Member] | Mortgage Servicing Rights [Member] | ||
Fair Value Of Assets And Liabilities Measured On Non Recurring Basis [Line Items] | ||
Impaired loans | $ 13,652 | $ 12,349 |
Disclosures about Fair Value _7
Disclosures about Fair Value of Assets and Liabilities - Qualitative Information about Unobservable Inputs Used in Recurring and Nonrecurring Level 3 Fair Value Measurements, Other than Goodwill (Detail) - Significant Unobservable Inputs (Level 3) [Member] $ in Thousands | 6 Months Ended | 12 Months Ended |
Jun. 30, 2019USD ($)ConsecutivePayment | Dec. 31, 2018USD ($)ConsecutivePayment | |
Impaired Loans [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Fair Value | $ | $ 7,847 | $ 5,661 |
Valuation Technique | Collateral based measurement | Collateral based measurement |
Impaired loans | Discount to reflect current market conditions and ultimate collectability | Discount to reflect current market conditions and ultimate collectability |
Mortgage Servicing Rights [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Fair Value | $ | $ 13,652 | $ 12,349 |
Valuation Technique | Discounted cash flows | Discounted cash flows |
Impaired loans | Discount rate, Constant prepayment rate, Probability of default | Discount rate, Constant prepayment rate, Probability of default |
Minimum [Member] | Impaired Loans [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Discount to reflect current market conditions and ultimate collectability | 0.00% | 0.00% |
Minimum [Member] | Mortgage Servicing Rights [Member] | Measurement Input, Discount Rate [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Unobservable inputs | 9.7 | 10.2 |
Minimum [Member] | Mortgage Servicing Rights [Member] | Measurement Input, Constant Prepayment Rate [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Unobservable inputs | 9.6 | 9.1 |
Minimum [Member] | Mortgage Servicing Rights [Member] | Measurement Input, Default Rate [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Unobservable inputs | 0 | 0.1 |
Maximum [Member] | Impaired Loans [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Discount to reflect current market conditions and ultimate collectability | 100.00% | 100.00% |
Maximum [Member] | Mortgage Servicing Rights [Member] | Measurement Input, Discount Rate [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Unobservable inputs | 10 | 11 |
Maximum [Member] | Mortgage Servicing Rights [Member] | Measurement Input, Constant Prepayment Rate [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Unobservable inputs | 19.3 | 21.9 |
Maximum [Member] | Mortgage Servicing Rights [Member] | Measurement Input, Default Rate [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Unobservable inputs | 1.7 | 2.8 |
Weighted Average [Member] | Impaired Loans [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Discount to reflect current market conditions and ultimate collectability | 9.10% | 15.50% |
Weighted Average [Member] | Mortgage Servicing Rights [Member] | Measurement Input, Discount Rate [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Unobservable inputs | 9.8 | 10.3 |
Weighted Average [Member] | Mortgage Servicing Rights [Member] | Measurement Input, Constant Prepayment Rate [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Unobservable inputs | 11 | 9.3 |
Weighted Average [Member] | Mortgage Servicing Rights [Member] | Measurement Input, Default Rate [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Unobservable inputs | 0.7 | 0.6 |
Fair Value of Financial Instr_3
Fair Value of Financial Instruments - Summary of Estimated Fair Values of Financial Instruments (Detail) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
Assets | ||
Cash and due from banks | $ 94,686 | $ 58,492 |
Interest-earning time deposits | 8,090 | 15,744 |
Investment securities, held to maturity | 213,768 | 210,112 |
Loans held for sale | 3,185 | 1,038 |
Loans (excluding loan level hedges), net | 3,659,626 | 3,005,305 |
Stock in FHLB | 22,447 | 18,073 |
Interest receivable | 19,015 | 14,239 |
Liabilities | ||
Non-interest bearing deposits | 810,350 | 642,129 |
Interest bearing deposits | 3,120,425 | 2,497,247 |
Borrowings | 436,233 | 550,384 |
Subordinated debentures | 56,194 | 37,837 |
Interest payable | 3,005 | 2,031 |
Carrying Amount [Member] | ||
Assets | ||
Cash and due from banks | 94,686 | 58,492 |
Interest-earning time deposits | 8,090 | 15,744 |
Investment securities, held to maturity | 213,768 | 210,112 |
Loans held for sale | 3,185 | 1,038 |
Loans (excluding loan level hedges), net | 3,388,183 | 2,786,351 |
Stock in FHLB | 22,447 | 18,073 |
Interest receivable | 19,015 | 14,239 |
Liabilities | ||
Non-interest bearing deposits | 810,350 | 642,129 |
Interest bearing deposits | 3,120,425 | 2,497,247 |
Borrowings | 436,233 | 550,384 |
Subordinated debentures | 56,194 | 37,837 |
Interest payable | 3,005 | 2,031 |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ||
Assets | ||
Cash and due from banks | 94,686 | 58,492 |
Liabilities | ||
Non-interest bearing deposits | 810,350 | 642,129 |
Significant Other Observable Inputs (Level 2) [Member] | ||
Assets | ||
Interest-earning time deposits | 8,107 | 15,542 |
Investment securities, held to maturity | 219,891 | 208,273 |
Stock in FHLB | 22,447 | 18,073 |
Interest receivable | 19,015 | 14,239 |
Liabilities | ||
Interest bearing deposits | 3,068,227 | 2,377,274 |
Borrowings | 433,258 | 542,311 |
Subordinated debentures | 50,603 | 35,711 |
Interest payable | 3,005 | 2,031 |
Significant Unobservable Inputs (Level 3) [Member] | ||
Assets | ||
Loans held for sale | 3,185 | 1,038 |
Loans (excluding loan level hedges), net | $ 3,247,837 | $ 2,681,741 |
Accumulated Other Comprehensi_3
Accumulated Other Comprehensive Income - Components of Accumulated Other Comprehensive Income (Detail) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Tax effect | $ (1,119) | $ 2,167 |
Total accumulated other comprehensive income (loss) | 4,207 | (8,144) |
Unrealized gain (loss) on securities available for sale [Member] | ||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Accumulated other comprehensive income (loss), before tax | 10,151 | (8,561) |
Unamortized gain (loss) on securities held to maturity, previously transferred from AFS [Member] | ||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Accumulated other comprehensive income (loss), before tax | (58) | 10 |
Unrealized loss on derivative instruments [Member] | ||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Accumulated other comprehensive income (loss), before tax | $ (4,767) | $ (1,760) |
Regulatory Capital - Summary of
Regulatory Capital - Summary of Regulatory Capital Requirement (Detail) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ||
Total capital (to risk-weighted assets), Actual, Amount | $ 519,613 | $ 427,616 |
Total capital (to risk-weighted assets), Actual, Ratio | 13.23% | 13.39% |
Total capital (to risk-weighted assets), For capital adequacy purposes, Amount | $ 314,113 | $ 255,419 |
Total capital (to risk-weighted assets), For capital adequacy purposes, Ratio | 8.00% | 8.00% |
Total capital (to risk-weighted assets), Required for capital1 adequacy purposes with capital buffer, Amount | $ 412,273 | $ 315,283 |
Total capital (to risk-weighted assets), Required for capital1 adequacy purposes with capital buffer, Ratio | 10.50% | 9.875% |
Tier 1 capital (to average assets), Actual, Amount | $ 501,272 | $ 409,760 |
Tier 1 capital (to average assets), Actual, Ratio | 12.77% | 12.83% |
Tier 1 capital (to average assets), For capital adequacy purposes, Amount | $ 235,586 | $ 191,565 |
Tier 1 capital (to average assets), For capital adequacy purpose, Ratio | 6.00% | 6.00% |
Tier 1 capital (to average assets), Required for capital1 adequacy purposes with capital buffer, Amount | $ 333,747 | $ 251,429 |
Tier 1 capital (to average assets), Required for capital1 adequacy purposes with capital buffer, Ratio | 8.50% | 7.875% |
Common equity tier 1 capital, Actual Amount | $ 443,779 | $ 371,297 |
Common equity tier 1 capital, Actual Ratio | 11.30% | 11.63% |
Common equity tier 1 capital,For capital adequacy purposes, Amount | $ 176,689 | $ 143,673 |
Common equity tier 1 capital, For capital adequacy purpose, Ratio | 4.50% | 4.50% |
Common equity tier 1 capital (to risk-weighted assets), Required for capital1 adequacy purposes with capital buffer, Amount | $ 274,849 | $ 203,537 |
Common equity tier 1 capital (to risk-weighted assets), Required for capital1 adequacy purposes with capital buffer, Ratio | 7.00% | 6.375% |
Tier 1 capital (to average assets), Actual, Amount | $ 501,272 | $ 409,760 |
Tier 1 capital (to average assets), Actual, Ratio | 10.33% | 10.12% |
Tier 1 capital (to average assets), For capital adequacy purposes, Amount | $ 194,081 | $ 162,033 |
Tier 1 capital (to average assets), For capital adequacy purpose, Ratio | 4.00% | 4.00% |
Tier 1 capital (to average assets), Required for capital1 adequacy purposes with capital buffer, Amount | $ 194,081 | $ 162,033 |
Tier 1 capital (to average assets), Required for capital1 adequacy purposes with capital buffer, Ratio | 4.00% | 4.00% |
Bank [Member] | ||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ||
Total capital (to risk-weighted assets), Actual, Amount | $ 480,366 | $ 396,755 |
Total capital (to risk-weighted assets), Actual, Ratio | 12.23% | 12.43% |
Total capital (to risk-weighted assets), For capital adequacy purposes, Amount | $ 314,242 | $ 255,419 |
Total capital (to risk-weighted assets), For capital adequacy purposes, Ratio | 8.00% | 8.00% |
Total capital (to risk-weighted assets), Required for capital1 adequacy purposes with capital buffer, Amount | $ 412,443 | $ 315,283 |
Total capital (to risk-weighted assets), Required for capital1 adequacy purposes with capital buffer, Ratio | 10.50% | 9.875% |
Total capital (to risk-weighted assets), For well capitalized purpose, Amount | $ 392,802 | $ 319,274 |
Total capital (to risk-weighted assets), For well capitalized purpose, Ratio | 10.00% | 10.00% |
Tier 1 capital (to average assets), Actual, Amount | $ 462,025 | $ 378,899 |
Tier 1 capital (to average assets), Actual, Ratio | 11.76% | 11.87% |
Tier 1 capital (to average assets), For capital adequacy purposes, Amount | $ 235,681 | $ 191,565 |
Tier 1 capital (to average assets), For capital adequacy purpose, Ratio | 6.00% | 6.00% |
Tier 1 capital (to average assets), Required for capital1 adequacy purposes with capital buffer, Amount | $ 333,881 | $ 251,429 |
Tier 1 capital (to average assets), Required for capital1 adequacy purposes with capital buffer, Ratio | 8.50% | 7.875% |
Tier 1 capital (to average assets), For well capitalized purpose, Amount | $ 314,241 | $ 255,420 |
Tier 1 capital (to average assets), For well capitalized purposes, Ratio | 8.00% | 8.00% |
Common equity tier 1 capital, Actual Amount | $ 462,025 | $ 378,899 |
Common equity tier 1 capital, Actual Ratio | 11.76% | 11.87% |
Common equity tier 1 capital,For capital adequacy purposes, Amount | $ 176,761 | $ 143,674 |
Common equity tier 1 capital, For capital adequacy purpose, Ratio | 4.50% | 4.50% |
Common equity tier 1 capital (to risk-weighted assets), Required for capital1 adequacy purposes with capital buffer, Amount | $ 274,961 | $ 203,537 |
Common equity tier 1 capital (to risk-weighted assets), Required for capital1 adequacy purposes with capital buffer, Ratio | 7.00% | 6.375% |
Common equity tier 1 capital, For well capitalized purpose, Amount | $ 255,321 | $ 207,528 |
Common equity tier 1 capital, For well capitalized purposes, Ratio | 6.50% | 6.50% |
Tier 1 capital (to average assets), Actual, Amount | $ 462,025 | $ 378,899 |
Tier 1 capital (to average assets), Actual, Ratio | 9.52% | 9.34% |
Tier 1 capital (to average assets), For capital adequacy purposes, Amount | $ 194,081 | $ 162,327 |
Tier 1 capital (to average assets), For capital adequacy purpose, Ratio | 4.00% | 4.00% |
Tier 1 capital (to average assets), Required for capital1 adequacy purposes with capital buffer, Amount | $ 194,081 | $ 162,327 |
Tier 1 capital (to average assets), Required for capital1 adequacy purposes with capital buffer, Ratio | 4.00% | 4.00% |
Tier 1 capital (to average assets), For well capitalized purpose, Amount | $ 242,602 | $ 202,908 |
Tier 1 capital (to average assets), For well capitalized purposes, Ratio | 5.00% | 5.00% |