Cover Page
Cover Page - shares | 9 Months Ended | |
Sep. 30, 2019 | Nov. 05, 2019 | |
Entity Information [Line Items] | ||
Entity Address, City or Town | Indiana | |
Entity Address, State or Province | PA | |
Entity Address, Postal Zip Code | 15701 | |
City Area Code | 724 | |
Local Phone Number | 349-7220 | |
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Sep. 30, 2019 | |
Document Fiscal Year Focus | 2019 | |
Document Fiscal Period Focus | Q3 | |
Entity Registrant Name | FIRST COMMONWEALTH FINANCIAL CORP /PA/ | |
Entity Central Index Key | 0000712537 | |
Entity File Number | 001-11138 | |
Entity Tax Identification Number | 251428528 | |
Entity Address, Address Line One | 601 Philadelphia Street | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Large Accelerated Filer | |
Entity Common Stock, Shares Outstanding | 98,316,233 | |
Entity Shell Company | false | |
Entity Small Business | false | |
Entity Emerging Growth Company | false | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Financial Condition (Unaudited) - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 |
Assets | ||
Cash and due from banks | $ 112,241 | $ 95,934 |
Interest-bearing bank deposits | 16,408 | 3,013 |
Securities available for sale, at fair value | 812,383 | 909,247 |
Securities held to maturity, at amortized cost (Fair value of $360,224 and $383,993 at September 30, 2019 and December 31, 2018, respectively) | 357,890 | 393,855 |
Other investments | 11,561 | 32,126 |
Loans held for sale | 20,288 | 11,881 |
Loans: | ||
Portfolio loans | 6,099,561 | 5,774,139 |
Allowance for credit losses | (50,035) | (47,764) |
Net loans | 6,049,526 | 5,726,375 |
Premises and equipment, net | 138,112 | 80,474 |
Other real estate owned | 1,622 | 3,935 |
Goodwill | 303,632 | 274,202 |
Amortizing intangibles, net | 16,873 | 13,038 |
Bank owned life insurance | 219,685 | 215,766 |
Other assets | 91,806 | 68,409 |
Total assets | 8,152,027 | 7,828,255 |
Deposits (all domestic): | ||
Noninterest-bearing | 1,657,507 | 1,466,213 |
Interest-bearing | 5,020,489 | 4,431,779 |
Total deposits | 6,677,996 | 5,897,992 |
Short-term borrowings | 83,735 | 721,823 |
Subordinated debentures | 170,409 | 170,288 |
Other long-term debt | 57,078 | 7,551 |
Capital Lease Obligations | 6,917 | 7,217 |
Total long-term debt | 234,404 | 185,056 |
Other liabilities | 116,862 | 47,995 |
Total liabilities | 7,112,997 | 6,852,866 |
Shareholders’ Equity | ||
Preferred stock, $1 par value per share, 3,000,000 shares authorized, none issued | 0 | 0 |
Common stock, $1 par value per share, 200,000,000 shares authorized; 113,914,902 shares issued at September 30, 2019 and December 31, 2018, and 98,319,081 and 98,518,668 shares outstanding at September 30, 2019 and December 31, 2018, respectively | 113,915 | 113,915 |
Additional paid-in capital | 493,737 | 492,273 |
Retained earnings | 560,360 | 511,409 |
Accumulated other comprehensive income (loss), net | 6,077 | (11,341) |
Treasury stock (15,595,821 and 15,396,234 shares at September 30, 2019 and December 31, 2018, respectively) | (135,059) | (130,867) |
Total shareholders’ equity | 1,039,030 | 975,389 |
Total liabilities and shareholders’ equity | $ 8,152,027 | $ 7,828,255 |
Condensed Consolidated Statem_2
Condensed Consolidated Statements of Financial Condition (Unaudited) (Parenthetical) - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 |
Preferred stock, par value (in dollars per share) | $ 1 | $ 1 |
Preferred stock, shares authorized (in shares) | 3,000,000 | 3,000,000 |
Preferred stock, shares issued (in shares) | 0 | 0 |
Common stock, par value (in dollars per share) | $ 1 | $ 1 |
Common stock, shares authorized (in shares) | 200,000,000 | 200,000,000 |
Common stock, shares issued (in shares) | 113,914,902 | 113,914,902 |
Common stock, shares outstanding (in shares) | 98,319,081 | 98,518,668 |
Treasury stock, shares (in shares) | 15,595,821 | 15,396,234 |
Securities held to maturity, fair value | $ 360,224 | $ 383,993 |
Condensed Consolidated Statem_3
Condensed Consolidated Statements of Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Interest Income | ||||
Interest and fees on loans | $ 74,714 | $ 66,105 | $ 218,524 | $ 188,529 |
Interest and dividends on investments: | ||||
Taxable interest | 6,995 | 7,899 | 22,871 | 23,031 |
Interest exempt from federal income taxes | 398 | 410 | 1,231 | 1,231 |
Dividends | 387 | 420 | 1,419 | 1,412 |
Interest on bank deposits | 81 | 39 | 181 | 109 |
Total interest income | 82,575 | 74,873 | 244,226 | 214,312 |
Interest Expense | ||||
Interest on deposits | 9,846 | 6,006 | 27,298 | 14,639 |
Interest on short-term borrowings | 1,620 | 2,603 | 8,075 | 7,387 |
Interest on subordinated debentures | 2,232 | 2,302 | 6,930 | 4,664 |
Interest on other long-term debt | 362 | 76 | 656 | 228 |
Interest on lease obligations | 70 | 73 | 210 | 221 |
Total interest expense | 14,130 | 11,060 | 43,169 | 27,139 |
Net Interest Income | 68,445 | 63,813 | 201,057 | 187,173 |
Provision for credit losses | 2,708 | 2,961 | 9,638 | 11,032 |
Net Interest Income after Provision for Credit Losses | 65,737 | 60,852 | 191,419 | 176,141 |
Noninterest Income | ||||
Net securities gains | 9 | 0 | 15 | 8,102 |
Trust income | 2,325 | 2,206 | 6,221 | 6,014 |
Service charges on deposit accounts | 4,954 | 4,589 | 13,792 | 13,418 |
Insurance and retail brokerage commissions | 1,912 | 1,872 | 5,887 | 5,560 |
Income from bank owned life insurance | 1,540 | 1,579 | 4,408 | 5,241 |
Gain on sale of mortgage loans | 2,599 | 1,542 | 6,101 | 4,267 |
Gain on sale of other loans and assets | 970 | 643 | 3,831 | 3,548 |
Card-related interchange income | 5,629 | 5,044 | 15,800 | 14,929 |
Derivatives mark to market | (45) | 0 | (88) | 789 |
Swap fee income | 421 | 528 | 1,634 | 1,115 |
Other income | 1,865 | 1,754 | 5,356 | 5,125 |
Total noninterest income | 22,179 | 19,757 | 62,957 | 68,108 |
Noninterest Expense | ||||
Salaries and employee benefits | 28,674 | 26,553 | 83,205 | 77,580 |
Net occupancy expense | 4,521 | 4,341 | 13,878 | 12,932 |
Furniture and equipment expense | 3,904 | 3,424 | 11,396 | 10,611 |
Data processing expense | 2,825 | 2,853 | 7,988 | 7,764 |
Advertising and promotion | 1,140 | 1,200 | 3,611 | 3,185 |
Intangible amortization | 1,189 | 1,248 | 3,365 | 3,398 |
Intangible amortization | 865 | 817 | 2,364 | 2,430 |
Collection and repossession expense | 649 | 630 | 1,656 | 2,060 |
Other professional fees and services | 969 | 962 | 2,755 | 3,000 |
FDIC insurance | 35 | 217 | 1,164 | 1,590 |
Loss on sale or write-down of assets | 152 | 181 | 1,398 | 875 |
Litigation and operational losses | 308 | 435 | 1,264 | 811 |
Merger and acquisition related | 3,738 | 24 | 3,772 | 1,634 |
Other Noninterest Expense | 5,928 | 6,645 | 19,040 | 17,662 |
Total noninterest expense | 54,897 | 49,530 | 156,856 | 145,532 |
Income Before Income Taxes | 33,019 | 31,079 | 97,520 | 98,717 |
Income tax provision | 6,375 | 5,930 | 19,007 | 18,217 |
Net Income | $ 26,644 | $ 25,149 | $ 78,513 | $ 80,500 |
Average Shares Outstanding (in shares) | 98,267,229 | 100,226,647 | 98,363,539 | 98,998,497 |
Average Shares Outstanding Assuming Dilution (in shares) | 98,547,898 | 100,490,812 | 98,615,787 | 99,197,568 |
Per Share Data: | ||||
Basic Earnings per Share (in dollars per share) | $ 0.27 | $ 0.25 | $ 0.80 | $ 0.81 |
Diluted Earnings per Share (in dollars per share) | 0.27 | 0.25 | 0.80 | 0.81 |
Cash Dividends Declared per Common Share (in dollars per share) | $ 0.10 | $ 0.09 | $ 0.30 | $ 0.26 |
Condensed Consolidated Statem_4
Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Net Income | $ 26,644 | $ 25,149 | $ 78,513 | $ 80,500 |
Other comprehensive income (loss), before tax (expense) benefit: | ||||
Unrealized holding gains (losses) on securities arising during the period | 3,152 | (5,382) | 22,055 | (8,704) |
Less: reclassification adjustment for gains on securities included in net income | (9) | 0 | (15) | (8,102) |
Unrealized holding (losses) gains on derivatives arising during the period | (124) | 198 | 9 | 165 |
Less: reclassification adjustment for losses on derivatives included in net income | 0 | 0 | 0 | 10 |
Total other comprehensive income (loss), before tax (expense) benefit | 3,019 | (5,184) | 22,049 | (16,631) |
Income tax (expense) benefit related to items of other comprehensive income (loss) | (635) | 1,088 | (4,631) | 3,491 |
Total other comprehensive income (loss) | 2,384 | (4,096) | 17,418 | (13,140) |
Comprehensive Income | $ 29,028 | $ 21,053 | $ 95,931 | $ 67,360 |
Condensed Consolidated Statem_5
Condensed Consolidated Statements of Changes in Shareholders' Equity (Unaudited) - USD ($) $ in Thousands | Total | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Accumulated Other Comprehensive Income (Loss), net [Member] | Treasury Stock [Member] | Previously Reported [Member] | Previously Reported [Member]Common Stock [Member] | Previously Reported [Member]Additional Paid-in Capital [Member] | Previously Reported [Member]Retained Earnings [Member] | Previously Reported [Member]Accumulated Other Comprehensive Income (Loss), net [Member] | Previously Reported [Member]Treasury Stock [Member] | Effect of ASU Adoption [Member]Accumulated Other Comprehensive Income (Loss), net [Member] |
Cumulative effect of adoption of ASU 2018-02 | $ 0 | $ 1,344 | $ (1,344) | ||||||||||
Beginning balance at Dec. 31, 2017 | 888,127 | $ 113,915 | $ 470,123 | 438,760 | (7,517) | $ (127,154) | $ 888,127 | $ 113,915 | $ 470,123 | $ 437,416 | $ (6,173) | $ (127,154) | |
Beginning balance, shares at Dec. 31, 2017 | 97,456,478 | 97,456,478 | |||||||||||
Net Income | 80,500 | 80,500 | |||||||||||
Other comprehensive income (loss) | (13,140) | (13,140) | |||||||||||
Dividends, declared (USD per share) | (25,868) | (25,868) | |||||||||||
Treasury stock acquired | (1,136) | (1,136) | |||||||||||
Treasury stock acquired, shares | (75,778) | ||||||||||||
Stock Issued During Period, Value, Treasury Stock Reissued | 44,026 | 21,579 | 0 | 22,447 | |||||||||
Stock Issued During Period, Shares, Treasury Stock Reissued | 2,908,234 | ||||||||||||
Restricted stock | 422 | $ 0 | 560 | 0 | (138) | ||||||||
Restricted stock, shares | 72,500 | ||||||||||||
Stock Issued During Period, Value, Treasury Stock Reissued | 2,257 | ||||||||||||
Ending balance at Sep. 30, 2018 | 972,931 | $ 113,915 | 492,262 | 493,392 | (20,657) | (105,981) | |||||||
Ending balance, shares at Sep. 30, 2018 | 100,361,434 | ||||||||||||
Beginning balance at Jun. 30, 2018 | $ 960,785 | $ 113,915 | $ 492,262 | $ 477,276 | $ (16,561) | $ (106,107) | |||||||
Beginning balance, shares at Jun. 30, 2018 | 100,364,567 | ||||||||||||
Net Income | 25,149 | 25,149 | |||||||||||
Other comprehensive income (loss) | (4,096) | (4,096) | |||||||||||
Dividends, declared (USD per share) | (9,033) | (9,033) | |||||||||||
Treasury stock acquired | (52) | (52) | |||||||||||
Treasury stock acquired, shares | (3,133) | ||||||||||||
Stock Issued During Period, Value, Treasury Stock Reissued | 0 | 0 | 0 | 0 | |||||||||
Stock Issued During Period, Shares, Treasury Stock Reissued | 0 | ||||||||||||
Restricted stock | 178 | $ 0 | 0 | 0 | 178 | ||||||||
Restricted stock, shares | 0 | ||||||||||||
Ending balance at Sep. 30, 2018 | 972,931 | $ 113,915 | 492,262 | 493,392 | (20,657) | (105,981) | |||||||
Ending balance, shares at Sep. 30, 2018 | 100,361,434 | ||||||||||||
Cumulative effect of adoption of ASU 2018-02 | $ 0 | ||||||||||||
Beginning balance at Dec. 31, 2018 | $ 975,389 | $ 113,915 | 492,273 | 511,409 | (11,341) | (130,867) | |||||||
Beginning balance, shares at Dec. 31, 2018 | 98,518,668 | 98,518,668 | |||||||||||
Net Income | $ 78,513 | 78,513 | |||||||||||
Other comprehensive income (loss) | 17,418 | 17,418 | |||||||||||
Dividends, declared (USD per share) | (29,562) | (29,562) | |||||||||||
Treasury stock acquired | (6,200) | (6,200) | |||||||||||
Treasury stock acquired, shares | (482,608) | ||||||||||||
Stock Issued During Period, Value, Treasury Stock Reissued | 2,743 | 1,014 | 0 | 1,729 | |||||||||
Stock Issued During Period, Shares, Treasury Stock Reissued | 205,021 | ||||||||||||
Restricted stock | 729 | $ 0 | 450 | 0 | 279 | ||||||||
Restricted stock, shares | 78,000 | ||||||||||||
Stock Issued During Period, Value, Treasury Stock Reissued | 2,531 | ||||||||||||
Ending balance at Sep. 30, 2019 | $ 1,039,030 | $ 113,915 | 493,737 | 560,360 | 6,077 | (135,059) | |||||||
Ending balance, shares at Sep. 30, 2019 | 98,319,081 | 98,319,081 | |||||||||||
Beginning balance at Jun. 30, 2019 | $ 1,021,831 | $ 113,915 | 493,737 | 543,566 | 3,693 | (133,080) | |||||||
Beginning balance, shares at Jun. 30, 2019 | 98,499,937 | ||||||||||||
Net Income | 26,644 | 26,644 | |||||||||||
Other comprehensive income (loss) | 2,384 | 2,384 | |||||||||||
Dividends, declared (USD per share) | (9,850) | (9,850) | |||||||||||
Treasury stock acquired | (2,240) | (2,240) | |||||||||||
Treasury stock acquired, shares | (180,856) | ||||||||||||
Stock Issued During Period, Value, Treasury Stock Reissued | 0 | 0 | 0 | 0 | |||||||||
Stock Issued During Period, Shares, Treasury Stock Reissued | 0 | ||||||||||||
Restricted stock | 261 | $ 0 | 0 | 0 | 261 | ||||||||
Restricted stock, shares | 0 | ||||||||||||
Ending balance at Sep. 30, 2019 | $ 1,039,030 | $ 113,915 | $ 493,737 | $ 560,360 | $ 6,077 | $ (135,059) | |||||||
Ending balance, shares at Sep. 30, 2019 | 98,319,081 | 98,319,081 |
Condensed Consolidated Statem_6
Condensed Consolidated Statements of Changes in Shareholders' Equity (Unaudited) (Parenthetical) - $ / shares | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Statement of Stockholders' Equity [Abstract] | ||||
Cash Dividends Declared per Common Share (in dollars per share) | $ 0.10 | $ 0.09 | $ 0.30 | $ 0.26 |
Condensed Consolidated Statem_7
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2019 | Sep. 30, 2018 | |
Operating Activities | ||
Net Income | $ 78,513 | $ 80,500 |
Provision for credit losses | 9,638 | 11,032 |
Deferred tax expense | 2,613 | 2,969 |
Depreciation and amortization | 7,777 | 5,620 |
Net gains on securities and other assets | (8,545) | (15,816) |
Net amortization of premiums and discounts on securities | 2,871 | 2,343 |
Income from increase in cash surrender value of bank owned life insurance | (4,405) | (4,364) |
Increase in interest receivable | (110) | (2,483) |
Mortgage loans originated for sale | (178,911) | (129,552) |
Proceeds from sale of mortgage loans | 173,961 | 139,685 |
Increase in interest payable | 1,180 | 1,672 |
Decrease in income taxes payable | (556) | (3,412) |
Distribution from unconsolidated subsidiary | 0 | 9,000 |
Other-net | (7,193) | (3,655) |
Net cash provided by operating activities | 76,833 | 93,539 |
Investing Activities | ||
Proceeds from sale and maturity of held-to-maturity securities | 35,163 | 37,007 |
Payments to acquire held-to-maturity securities | (200) | (5,506) |
Proceeds from Sale of Available-for-sale Securities | 0 | 15,939 |
Proceeds from maturities and redemptions of available-for-sale securities | 134,453 | 111,800 |
Purchases of available-for-sale securities | (17,401) | (292,249) |
Purchases of FHLB stock | (29,538) | (38,947) |
Proceeds from the redemption of FHLB stock | 50,103 | 43,754 |
Proceeds from Life Insurance Policy | 0 | 2,140 |
Proceeds from Sale of Loans Receivable | 28,098 | 32,745 |
Proceeds from sale of other assets | 5,390 | 2,486 |
Acquisition, net of cash acquired | 332,465 | 705 |
Net increase in loans | (256,168) | (109,060) |
Payments for Purchase of Other Assets | (14,060) | (6,862) |
Net cash provided by (used in) investing activities | 268,305 | (206,048) |
Financing Activities | ||
Net (decrease) increase in federal funds purchased | (4,000) | 6,500 |
Net decrease in other short-term borrowings | (634,088) | (126,160) |
Net increase in deposits | 308,976 | 173,553 |
Repayments of other long-term debt | (473) | (23,443) |
Repayments of Long-term Capital Lease Obligations | 300 | 279 |
Proceeds from Issuance of Long-term Debt | 50,000 | 98,026 |
Dividends paid | (29,562) | (25,868) |
Proceeds from reissuance of treasury stock | 211 | 208 |
Purchase of treasury stock | (6,200) | (1,136) |
Net cash (used in) provided by financing activities | (315,436) | 101,401 |
Net increase (decrease) in cash and cash equivalents | 29,702 | (11,108) |
Cash and cash equivalents at January 1 | 98,947 | 107,292 |
Cash and cash equivalents at September 30 | $ 128,649 | $ 96,184 |
Basis of Presentation
Basis of Presentation | 9 Months Ended |
Sep. 30, 2019 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Basis of Presentation | Basis of Presentation The accounting and reporting policies of First Commonwealth Financial Corporation and its subsidiaries (“First Commonwealth” or the “Company”) conform with generally accepted accounting principles in the United States of America (“GAAP”). The preparation of financial statements in conformity with GAAP requires management to make estimates, assumptions and judgments that affect the amounts reported in the financial statements and accompanying notes. Actual realized amounts could differ from those estimates. In the opinion of management, the unaudited interim consolidated financial statements include all adjustments (consisting of only normal recurring adjustments) necessary for a fair presentation of First Commonwealth’s financial position, results of operations, comprehensive income, cash flows and changes in shareholders’ equity as of and for the periods presented. Certain information and Note disclosures normally included in Consolidated Financial Statements prepared in accordance with GAAP have been condensed or omitted pursuant to the rules and regulations of the SEC. For purposes of reporting cash flows, cash and cash equivalents include cash on hand, amounts due from banks, federal funds sold and interest-bearing bank deposits. Generally, federal funds are sold for one-day periods. The results of operations for the nine months ended September 30, 2019 are not necessarily indicative of the results that may be expected for the full year of 2019 . These interim financial statements should be read in conjunction with First Commonwealth’s 2018 Annual Report on Form 10-K. Adoption of New Accounting Standards In February 2016, the FASB issued ASU No. 2016-02, "Leases (Topic 842)," in order to increase transparency and comparability among organizations by recognizing lease assets and lease liabilities on the balance sheet and disclosing key information about leasing arrangements. Additionally, the FASB issued ASU No. 2018-01, "Leases (Topic 842)" in January 2018, ASU No. 2018-11, "Leases - Targeted Improvements" in July 2018 and ASU 2018-20, "Leases - Narrow-Scope Improvements for Lessors" in December 2018. These ASU's provide certain improvements and optional practical expedients to Topic 842. First Commonwealth adopted this guidance on January 1, 2019. Under this new guidance, all entities will classify leases to determine how to recognize lease-related revenue and expense. Quantitative and qualitative disclosures are required by lessees and lessors to meet the objective of enabling users of financial statements to assess the amount, timing, and uncertainty of cash flows arising from leases. The intention is to require enough information to supplement the amounts recorded in the financial statements so that users can understand more about the nature of an entity’s leasing activities. This ASU is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2018. First Commonwealth has elected the transition option provided in ASU No. 2018-11, which provides for the modified retrospective approach to be applied on January 1, 2019. Upon adoption of this standard on January 1, 2019, we recognized right-of-use ("ROU") assets and related lease liabilities totaling $38.5 million and $41.8 million |
Acquisition Business Acquisitio
Acquisition Business Acquisitions | 9 Months Ended |
Sep. 30, 2019 | |
Business Combinations [Abstract] | |
Business Combination Disclosure [Text Block] | Acquisition Santander Branch Acquisition On September 6, 2019, the Company's banking subsidiary, First Commonwealth Bank, completed its acquisition of 14 full service branches from Santander Bank N.A. ("Santander") receiving $329.5 million in cash. This acquisition further expands the Company's market into State College, Lock Haven, Williamsport and Lewisburg, Pennsylvania and included the purchase of 101.2 million in loans and $471.4 million in deposits. The table below summarizes the net assets acquired (at fair value) and consideration transferred in connection with the Santander acquisition (dollars in thousands): Consideration received Cash received $ 329,530 Total consideration received $ 329,530 Fair Value of Assets Acquired Cash and cash equivalents 2,935 Loans 100,025 Premises and other equipment 3,637 Core deposit intangible 5,277 Other assets 736 Total assets acquired 112,610 Fair Value of Liabilities Assumed Deposits 471,383 Other Liabilities 187 Total liabilities assumed 471,570 Total Fair Value of Identifiable Net Assets (358,960 ) Goodwill $ 29,430 The Company determined that this acquisition constitutes a business combination as defined in FASB ASC Topic 805, “Business Combinations.” Accordingly, as of the date of the acquisition, the Company recorded the assets acquired and liabilities assumed at fair value. The Company determined fair values in accordance with the guidance provided in FASB ASC Topic 820, “Fair Value Measurements and Disclosures.” Acquired loans were recorded at fair value with no carryover of the related allowance for loan losses. At the date of acquisition, none of the loans were accounted for under the guidance of ASC Topic 310-30, “Receivables-Loans and Debt Securities Acquired with Deteriorated Credit Quality.” The fair value of acquired loans and certificate of deposits is established by discounting the expected future cash flows with a market discount rate for like maturities and risk instruments. The $100.0 million fair value of acquired loans is the result of $101.2 million in loans acquired from Santander and the recognition of a net combined yield and credit mark adjustment of $1.2 million . The $471.4 million fair value of acquired deposits is the result of $471.0 million in deposits acquired and the recognition of a yield mark adjustment of $0.4 million on the certificate of deposits. A $5.3 million core deposit intangible was recognized for core deposits acquired. The fair value of the acquired loans, customer deposit intangible, other assets and assumed deposits may change during the provisional period, which may last up to twelve months subsequent to the acquisition date as we are in the process of finalizing our valuations. The Company may obtain additional information to refine the valuation of the aforementioned items and adjust the recorded fair value, although such adjustments are not expected to be significant. Adjustments recorded to the acquired assets and liabilities will be applied prospectively in accordance with ASU No. 2015-16, “Business Combinations.” The goodwill of $29.4 million arising from the acquisition consists largely of the synergies and economies of scale expected from combining the operations of the Company with the branches acquired from Santander. The goodwill for this transaction is expected to be deducted over a 15 year period for income tax purposes. Costs related to the acquisition totaled $3.7 million . These amounts were expensed as incurred and are recorded as a merger and acquisition related expense in the Consolidated Statements of Income. Garfield Acquisition Corporation On May 1, 2018, the Company completed its acquisition of Garfield Acquisition Corporation ("Garfield") and its banking subsidiary, Foundation Bank, for consideration of $17.4 million in cash and 2.7 million shares of the Company's common stock. Through the acquisition, the Company obtained five full-service banking offices which are operating under the First Commonwealth name. This acquisition expands the Company's presence into the Cincinnati, Ohio market and added $184.5 million in loans and $141.3 million in deposits to the Company's balance sheet. The table below summarizes the final purchase price allocation and the net assets acquired (at fair value) and consideration transferred in connection with the Garfield acquisition (dollars in thousands): Consideration Paid Cash paid to shareholders $ 17,400 Shares issued to shareholders (2,745,098 shares) 41,561 Total consideration paid $ 58,961 Fair Value of Assets Acquired Cash and cash equivalents 18,105 FHLB Stock 3,261 Loans 184,506 Premises and other equipment 409 Intangible assets 1,248 Other assets 1,747 Total assets acquired 209,276 Fair Value of Liabilities Assumed Deposits 141,281 FHLB borrowings 22,988 Other liabilities 5,068 Total liabilities assumed 169,337 Total Fair Value of Identifiable Net Assets 39,939 Goodwill $ 19,022 The goodwill of $19.0 million arising from the acquisition represents the value of synergies and economies of scale expected from combining the operations of the Company with Garfield Acquisition Corporation. The Company determined that this acquisition constitutes a business combination as defined in FASB ASC Topic 805, “Business Combinations.” Accordingly, as of the date of the acquisition, the Company recorded the assets acquired and liabilities assumed at fair value. The Company determined fair values in accordance with the guidance provided in FASB ASC Topic 820, “Fair Value Measurements and Disclosures.” Acquired loans were recorded at fair value with no carryover of the related allowance for loan losses. Fair value is established by discounting the expected future cash flows with a market discount rate for like maturities and risk instruments. At the date of acquisition, none of the loans were accounted for under the guidance of ASC Topic 310-30, “Receivables-Loans and Debt Securities Acquired with Deteriorated Credit Quality.” The $184.5 million fair value of acquired loans is the result of $183.7 million in net loans acquired from Garfield, the recognition of a net combined yield and credit mark adjustment of $4.3 million and the $5.1 million reversal of Garfield's allowance as well as prior fair value marks recorded by Garfield. The fair value of the 2,745,098 common shares issued was determined based on the market price of the Company's common shares on the acquisition date. Costs related to the acquisition totaled $1.6 million . These amounts were expensed as incurred and are recorded as a merger and acquisition related expense in the Consolidated Statements of Income. |
Supplemental Comprehensive Inco
Supplemental Comprehensive Income Disclosures | 9 Months Ended |
Sep. 30, 2019 | |
Supplemental Comprehensive Income Disclosures [Abstract] | |
Supplemental Comprehensive Income Disclosures | Supplemental Comprehensive Income Disclosures The following table identifies the related tax effects allocated to each component of other comprehensive income (“OCI”) in the Consolidated Statements of Comprehensive Income. Reclassification adjustments related to securities available for sale are included in the "Net securities gains" line and reclassification adjustments related to losses on derivatives are included in the "Other operating" line in the Consolidated Statements of Income. For the Nine Months Ended September 30, 2019 2018 Pretax Amount Tax (Expense) Benefit Net of Tax Amount Pretax Amount Tax (Expense) Benefit Net of Tax Amount (dollars in thousands) Unrealized gains (losses) on securities: Unrealized holding gains (losses) on securities arising during the period $ 22,055 $ (4,632 ) $ 17,423 $ (8,704 ) $ 1,828 $ (6,876 ) Reclassification adjustment for gains on securities included in net income (15 ) 3 (12 ) (8,102 ) 1,701 (6,401 ) Total unrealized gains (losses) on securities 22,040 (4,629 ) 17,411 (16,806 ) 3,529 (13,277 ) Unrealized gains on derivatives: Unrealized holding gains on derivatives arising during the period 9 (2 ) 7 165 (35 ) 130 Reclassification adjustment for losses on derivatives included in net income — — — 10 (3 ) 7 Total unrealized gains on derivatives 9 (2 ) 7 175 (38 ) 137 Total other comprehensive income (loss) $ 22,049 $ (4,631 ) $ 17,418 $ (16,631 ) $ 3,491 $ (13,140 ) For the Three Months Ended September 30, 2019 2018 Pretax Amount Tax (Expense) Benefit Net of Tax Amount Pretax Amount Tax (Expense) Benefit Net of Tax Amount (dollars in thousands) Unrealized gains (losses) on securities: Unrealized holding gains (losses) on securities arising during the period $ 3,152 $ (663 ) $ 2,489 $ (5,382 ) $ 1,130 $ (4,252 ) Reclassification adjustment for gains on securities included in net income (9 ) 2 (7 ) — — — Total unrealized gains (losses) on securities 3,143 (661 ) 2,482 (5,382 ) 1,130 (4,252 ) Unrealized (losses) gains on derivatives: Unrealized holding (losses) gains on derivatives arising during the period (124 ) 26 (98 ) 198 (42 ) 156 Reclassification adjustment for losses on derivatives included in net income — — — — — — Total unrealized (losses) gains on derivatives (124 ) 26 (98 ) 198 (42 ) 156 Total other comprehensive income (loss) $ 3,019 $ (635 ) $ 2,384 $ (5,184 ) $ 1,088 $ (4,096 ) The following table details the change in components of OCI for the nine months ended September 30 : 2019 2018 Securities Available for Sale Post-Retirement Obligation Derivatives Accumulated Other Comprehensive Income (Loss) Securities Available for Sale Post-Retirement Obligation Derivatives Accumulated Other Comprehensive Income (Loss) (dollars in thousands) Balance at December 31 $ (11,697 ) $ 461 $ (105 ) $ (11,341 ) $ (6,166 ) $ 299 $ (306 ) $ (6,173 ) Cumulative effect of adoption of ASU 2018-02 — — — — (1,344 ) — — (1,344 ) Balance at January 1 (11,697 ) 461 (105 ) (11,341 ) (7,510 ) 299 (306 ) (7,517 ) Other comprehensive income (loss) before reclassification adjustment 17,423 — 7 17,430 (6,876 ) — 130 (6,746 ) Amounts reclassified from accumulated other comprehensive (loss) income (12 ) — — (12 ) (6,401 ) — 7 (6,394 ) Net other comprehensive income (loss) during the period 17,411 — 7 17,418 (13,277 ) — 137 (13,140 ) Balance at September 30 $ 5,714 $ 461 $ (98 ) $ 6,077 $ (20,787 ) $ 299 $ (169 ) $ (20,657 ) The following table details the change in components of OCI for the three months ended September 30 : 2019 2018 Securities Available for Sale Post-Retirement Obligation Derivatives Accumulated Other Comprehensive Income (Loss) Securities Available for Sale Post-Retirement Obligation Derivatives Accumulated Other Comprehensive Income (Loss) (dollars in thousands) Balance at June 30 $ 3,232 $ 461 $ — $ 3,693 $ (16,535 ) $ 299 $ (325 ) $ (16,561 ) Other comprehensive income (loss) before reclassification adjustment 2,489 — (98 ) 2,391 (4,252 ) — 156 (4,096 ) Amounts reclassified from accumulated other comprehensive (loss) income (7 ) — — (7 ) — — — — Net other comprehensive income (loss) during the period 2,482 — (98 ) 2,384 (4,252 ) — 156 (4,096 ) Balance at September 30 $ 5,714 $ 461 $ (98 ) $ 6,077 $ (20,787 ) $ 299 $ (169 ) $ (20,657 ) |
Supplemental Cash Flow Disclosu
Supplemental Cash Flow Disclosures | 9 Months Ended |
Sep. 30, 2019 | |
Supplemental Cash Flow Information [Abstract] | |
Supplemental Cash Flow Disclosures | Supplemental Cash Flow Disclosures The following table presents information related to cash paid during the period for interest and income taxes, as well as detail on non-cash investing and financing activities for the nine months ended September 30 : 2019 2018 (dollars in thousands) Cash paid during the period for: Interest $ 42,195 $ 25,780 Income taxes 16,994 18,750 Non-cash investing and financing activities: Loans transferred to other real estate owned and repossessed assets 2,754 3,346 Loans transferred from held to maturity to held for sale 21,620 29,765 Gross increase (decrease) in market value adjustment to securities available for sale 22,041 (16,806 ) Gross increase in market value adjustment to derivatives 9 175 Noncash treasury stock reissuance 2,531 2,257 Net (liabilities) assets acquired through acquisition (361,895 ) 21,834 Proceeds from death benefit on bank-owned life insurance not received 486 — |
Earnings per Share
Earnings per Share | 9 Months Ended |
Sep. 30, 2019 | |
Earnings Per Share [Abstract] | |
Earnings per Share | Earnings per Share The following table summarizes the composition of the weighted-average common shares (denominator) used in the basic and diluted earnings per share computations: For the Three Months Ended September 30, For the Nine Months Ended September 30, 2019 2018 2019 2018 Weighted average common shares issued 113,914,902 113,914,902 113,914,902 113,914,902 Average treasury stock shares (15,496,941 ) (13,550,710 ) (15,396,215 ) (14,783,078 ) Average deferred compensation shares (37,411 ) (37,411 ) (37,411 ) (37,411 ) Average unearned nonvested shares (113,321 ) (100,134 ) (117,737 ) (95,916 ) Weighted average common shares and common stock equivalents used to calculate basic earnings per share 98,267,229 100,226,647 98,363,539 98,998,497 Additional common stock equivalents (nonvested stock) used to calculate diluted earnings per share 243,258 226,754 214,837 161,660 Additional common stock equivalents (deferred compensation) used to calculate diluted earnings per share 37,411 37,411 37,411 37,411 Weighted average common shares and common stock equivalents used to calculate diluted earnings per share 98,547,898 100,490,812 98,615,787 99,197,568 Basic Earnings per Share $ 0.27 $ 0.25 $ 0.80 $ 0.81 Diluted Earnings per Share $ 0.27 $ 0.25 $ 0.80 $ 0.81 The following table shows the number of shares and the price per share related to common stock equivalents that were not included in the computation of diluted earnings per share for the nine months ended September 30 because to do so would have been antidilutive. 2019 2018 Price Range Price Range Shares From To Shares From To Restricted Stock 95,054 $ 12.99 $ 15.44 66,332 $ 8.84 $ 14.49 Restricted Stock Units 24,782 $ 16.62 $ 16.62 — $ — $ — |
Commitments and Contingent Liab
Commitments and Contingent Liabilities | 9 Months Ended |
Sep. 30, 2019 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingent Liabilities | Commitments and Contingent Liabilities Commitments and Letters of Credit Standby letters of credit and commercial letters of credit are conditional commitments issued by First Commonwealth to guarantee the performance of a customer to a third party. The contract or notional amount of these instruments reflects the maximum amount of future payments that First Commonwealth could be required to pay under the guarantees if there were a total default by the guaranteed parties, without consideration of possible recoveries under recourse provisions or from collateral held or pledged. In addition, many of these commitments are expected to expire without being drawn upon; therefore, the total commitment amounts do not necessarily represent future cash requirements. The following table identifies the notional amount of those instruments at: September 30, 2019 December 31, 2018 (dollars in thousands) Financial instruments whose contract amounts represent credit risk: Commitments to extend credit $ 1,990,464 $ 1,883,914 Financial standby letters of credit 18,289 18,298 Performance standby letters of credit 25,249 22,027 Commercial letters of credit 783 887 The notional amounts outstanding as of September 30, 2019 include amounts issued in 2019 of $6.9 million in performance standby letters of credit and $0.8 million in financial standby letters of credit. There were no commercial letters of credit issued in 2019 . A liability of $0.2 million has been recorded as of both September 30, 2019 and December 31, 2018 , which represents the estimated fair value of letters of credit issued. The fair value of letters of credit is estimated based on the unrecognized portion of fees received at the time the commitment was issued. Unused commitments and letters of credit provide exposure to future credit loss in the event of nonperformance by the borrower or guaranteed parties. Management’s evaluation of the credit risk related to these commitments resulted in the recording of a liability of $4.8 million and $5.0 million as of September 30, 2019 and December 31, 2018 , respectively. This liability is reflected in "Other liabilities" in the Consolidated Statements of Financial Condition. The credit risk evaluation incorporated probability of default, loss given default and estimated utilization for the next twelve months for each loan category and the letters of credit. Legal Proceedings First Commonwealth and its subsidiaries are subject in the normal course of business to various pending and threatened legal proceedings in which claims for monetary damages are asserted. As of September 30, 2019 , management, after consultation with legal counsel, does not anticipate that the aggregate ultimate liability arising out of litigation pending or threatened against First Commonwealth or its subsidiaries will be material to First Commonwealth’s consolidated financial position. On at least a quarterly basis, First Commonwealth assesses its liabilities and contingencies in connection with such legal proceedings. For those matters where it is probable that First Commonwealth will incur losses and the amounts of the losses can be reasonably estimated, First Commonwealth records an expense and corresponding liability in its consolidated financial statements. To the extent the pending or threatened litigation could result in exposure in excess of that liability, the amount of such excess is not currently estimable. Although not considered probable, the range of reasonably possible losses for such matters in the aggregate, beyond the existing recorded liability (if any), is between $0 and $1 million . Although First Commonwealth does not believe that the outcome of pending litigation will be material to First Commonwealth’s consolidated financial position, it cannot rule out the possibility that such outcomes will be material to the consolidated results of operations and cash flows for a particular reporting period in the future. |
Investment Securities
Investment Securities | 9 Months Ended |
Sep. 30, 2019 | |
Investment Securities [Abstract] | |
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | Investment Securities Securities Available for Sale Below is an analysis of the amortized cost and estimated fair values of securities available for sale at: September 30, 2019 December 31, 2018 Amortized Gross Gross Estimated Amortized Gross Gross Estimated (dollars in thousands) Obligations of U.S. Government Agencies: Mortgage-Backed Securities – Residential $ 8,112 $ 655 $ — $ 8,767 $ 9,011 $ 479 $ (84 ) $ 9,406 Mortgage-Backed Securities – Commercial 168,006 3,585 — 171,591 169,633 214 (2,103 ) 167,744 Obligations of U.S. Government-Sponsored Enterprises: Mortgage-Backed Securities – Residential 583,158 4,260 (2,594 ) 584,824 686,906 1,846 (15,391 ) 673,361 Other Government-Sponsored Enterprises 1,000 — (2 ) 998 10,000 12 — 10,012 Obligations of States and Political Subdivisions 21,959 209 — 22,168 27,592 126 (6 ) 27,712 Corporate Securities 22,914 1,121 — 24,035 20,912 321 (221 ) 21,012 Total Securities Available for Sale $ 805,149 $ 9,830 $ (2,596 ) $ 812,383 $ 924,054 $ 2,998 $ (17,805 ) $ 909,247 Mortgage-backed securities include mortgage-backed obligations of U.S. Government agencies and obligations of U.S. Government-sponsored enterprises. These obligations have contractual maturities ranging from less than one year to approximately 30 years with lower anticipated lives to maturity due to prepayments. All mortgage-backed securities contain a certain amount of risk related to the uncertainty of prepayments of the underlying mortgages. Interest rate changes have a direct impact upon prepayment speeds; therefore, First Commonwealth uses computer simulation models to test the average life and yield volatility of all mortgage-backed securities under various interest rate scenarios to monitor the potential impact on earnings and interest rate risk positions. Expected maturities will differ from contractual maturities because issuers may have the right to call or repay obligations with or without call or prepayment penalties. Other fixed income securities within the portfolio also contain prepayment risk. The amortized cost and estimated fair value of debt securities available for sale at September 30, 2019 , by contractual maturity, are shown below. Amortized Estimated (dollars in thousands) Due within 1 year $ 1,527 $ 1,531 Due after 1 but within 5 years 36,106 36,779 Due after 5 but within 10 years 8,240 8,891 Due after 10 years — — 45,873 47,201 Mortgage-Backed Securities (a) 759,276 765,182 Total Debt Securities $ 805,149 $ 812,383 (a) Mortgage-backed and collateralized mortgage securities, which have prepayment provisions, are not assigned to maturity categories due to fluctuations in their prepayment speeds. Mortgage-Backed Securities include an amortized cost of $176.1 million and a fair value of $180.4 million for Obligations of U.S. Government agencies issued by Ginnie Mae and an amortized cost of $583.2 million and a fair value of $584.8 million for Obligations of U.S. Government-sponsored enterprises issued by Fannie Mae and Freddie Mac. Proceeds from sales, gross gains (losses) realized on sales, maturities and other-than-temporary impairment charges related to securities available for sale were as follows for the nine months ended September 30 : 2019 2018 (dollars in thousands) Proceeds from sales $ — $ 15,939 Gross gains (losses) realized: Sales transactions: Gross gains $ — $ 4,719 Gross losses — — — 4,719 Maturities Gross gains 15 3,383 Gross losses — — 15 3,383 Net gains and impairment $ 15 $ 8,102 Gross gains from maturities recognized in 2019 were the result of calls on five municipal securities. Gross gains from sales transactions of $4.7 million recognized in 2018 were the result of the sale of the remaining pool trust preferred security portfolio. Gross gains from maturities of $3.4 million recognized in 2018 were the result of successful auction calls on PreSTL XIV and PreSTL IX, two of our pooled trust preferred securities. Securities available for sale with an estimated fair value of $629.4 million and $636.3 million were pledged as of September 30, 2019 and December 31, 2018 , respectively, to secure public deposits and for other purposes required or permitted by law. Securities Held to Maturity Below is an analysis of the amortized cost and fair values of debt securities held to maturity at: September 30, 2019 December 31, 2018 Amortized Gross Gross Estimated Amortized Gross Gross Estimated (dollars in thousands) Obligations of U.S. Government Agencies: Mortgage-Backed Securities – Residential $ 3,549 $ 57 $ — $ 3,606 $ 3,635 $ — $ (97 ) $ 3,538 Mortgage-Backed Securities- Commercial 54,244 173 (106 ) 54,311 55,221 — (2,327 ) 52,894 Obligations of U.S. Government-Sponsored Enterprises: Mortgage-Backed Securities – Residential 245,238 1,762 (297 ) 246,703 279,109 212 (7,254 ) 272,067 Mortgage-Backed Securities – Commercial 12,361 123 — 12,484 13,159 — (258 ) 12,901 Obligations of States and Political Subdivisions 41,898 626 — 42,524 42,331 175 (313 ) 42,193 Debt Securities Issued by Foreign Governments 600 — (4 ) 596 400 — — 400 Total Securities Held to Maturity $ 357,890 $ 2,741 $ (407 ) $ 360,224 $ 393,855 $ 387 $ (10,249 ) $ 383,993 The amortized cost and estimated fair value of debt securities held to maturity at September 30, 2019 , by contractual maturity, are shown below. Expected maturities will differ from contractual maturities because borrowers may have the right to call or repay obligations with or without call or prepayment penalties. Amortized Estimated (dollars in thousands) Due within 1 year $ 512 $ 512 Due after 1 but within 5 years 8,084 8,144 Due after 5 but within 10 years 33,902 34,464 Due after 10 years — — 42,498 43,120 Mortgage-Backed Securities (a) 315,392 317,104 Total Debt Securities $ 357,890 $ 360,224 (a) Mortgage-backed and collateralized mortgage securities, which have prepayment provisions, are not assigned to maturity categories due to fluctuations in their prepayment speeds. Mortgage-Backed Securities include an amortized cost of $57.8 million and a fair value of $57.9 million for Obligations of U.S. Government agencies issued by Ginnie Mae and an amortized cost of $257.6 million and a fair value of $259.2 million for Obligations of U.S. Government-sponsored enterprises issued by Fannie Mae and Freddie Mac. Securities held to maturity with an amortized cost of $324.9 million and $250.3 million were pledged as of September 30, 2019 and December 31, 2018 , respectively, to secure public deposits and for other purposes required or permitted by law. |
Impairment of Investment Securi
Impairment of Investment Securities | 9 Months Ended |
Sep. 30, 2019 | |
Impairment of Investment Securities Disclosure [Abstract] | |
Impairment of Investment Securities | Impairment of Investment Securities Securities Available for Sale and Held to Maturity As required by FASB ASC Topic 320, “Investments – Debt and Equity Securities,” credit-related other-than-temporary impairment on debt securities is recognized in earnings, while non-credit related other-than-temporary impairment on debt securities not expected to be sold is recognized in OCI. During the nine months ended September 30, 2019 and 2018 , no other-than-temporary impairment charges were recognized. First Commonwealth utilizes the specific identification method to determine the net gain or loss on debt securities and the average cost method to determine the net gain or loss on equity securities. We review our investment portfolio on a quarterly basis for indications of impairment. This review includes analyzing the length of time and the extent to which the fair value has been lower than the cost, the financial condition and near-term prospects of the issuer, including any specific events which may influence the operations of the issuer and whether we are more likely than not to sell, or be required to sell, the security. We evaluate whether we are more likely than not to sell debt securities based upon our investment strategy for the particular type of security, our cash flow needs, liquidity position, capital adequacy, tax position and interest rate risk position. In addition, the risk of future other-than-temporary impairment may be influenced by weakness in the U.S. economy or changes in real estate values. The following table presents the gross unrealized losses and estimated fair values at September 30, 2019 for both available for sale and held to maturity securities by investment category and time frame for which securities have been in a continuous unrealized loss position: Less Than 12 Months 12 Months or More Total Estimated Gross Estimated Gross Estimated Gross (dollars in thousands) Obligations of U.S. Government Agencies: Mortgage-Backed Securities – Commercial $ — $ — $ 18,120 $ (106 ) $ 18,120 $ (106 ) Obligations of U.S. Government-Sponsored Enterprises: Mortgage-Backed Securities – Residential 115,615 (342 ) 239,861 (2,549 ) 355,476 (2,891 ) Other Government-Sponsored Enterprises 998 (2 ) — — 998 (2 ) Debt Securities Issued by Foreign Governments 596 (4 ) — — 596 (4 ) Total Securities $ 117,209 $ (348 ) $ 257,981 $ (2,655 ) $ 375,190 $ (3,003 ) At September 30, 2019 , fixed income securities issued by U.S. Government-sponsored enterprises and U.S. Government agencies comprised 96% and 4% , respectively, of total unrealized losses due to changes in market interest rates. At September 30, 2019 , there are 40 debt securities in an unrealized loss position. The following table presents the gross unrealized losses and estimated fair values at December 31, 2018 by investment category and time frame for which securities have been in a continuous unrealized loss position: Less Than 12 Months 12 Months or More Total Estimated Gross Estimated Gross Estimated Gross (dollars in thousands) Obligations of U.S. Government Agencies: Mortgage-Backed Securities – Residential $ 2,289 $ (41 ) $ 5,028 $ (140 ) $ 7,317 $ (181 ) Mortgage-Backed Securities - Commercial 95,826 (925 ) 75,959 (3,505 ) 171,785 (4,430 ) Obligations of U.S. Government-Sponsored Enterprises: Mortgage-Backed Securities – Residential 156,732 (1,856 ) 626,003 (20,789 ) 782,735 (22,645 ) Mortgage-Backed Securities – Commercial — — 12,901 (258 ) 12,901 (258 ) Obligation of States and Political Subdivisions 8,591 (85 ) 9,338 (234 ) 17,929 (319 ) Corporate Securities 14,769 (214 ) 3,993 (7 ) 18,762 (221 ) Total Securities $ 278,207 $ (3,121 ) $ 733,222 $ (24,933 ) $ 1,011,429 $ (28,054 ) As of September 30, 2019 , our corporate securities had an amortized cost and an estimated fair value of $22.9 million and $24.0 million , respectively. As of December 31, 2018 , our corporate securities had an amortized cost and estimated fair value of $20.9 million and $21.0 million , respectively. Corporate securities are comprised of debt issued by large regional banks. There were no corporate securities in an unrealized loss position as of September 30, 2019 and 4 corporate securities in an unrealized loss position as of December 31, 2018 . When unrealized losses exist on these investments, management reviews each of the issuer’s asset quality, earnings trends and capital position, to determine whether issues in an unrealized loss position were other-than-temporarily impaired. All interest payments on the corporate securities are being made as contractually required. During 2018, all of our pooled trust preferred collateralized debt obligations were liquidated either through a successful auction call or sale. Other-than-temporary impairment charges were recognized on the pooled trust preferred securities in 2008, 2009 and 2010. The following table provides a cumulative roll forward of credit losses recognized in earnings for the trust preferred securities: For the Three Months Ended September 30, For the Nine Months Ended September 30, 2019 2018 2019 2018 (dollars in thousands) Balance, beginning (a) $ — $ — $ — $ 12,208 Credit losses on debt securities for which other-than-temporary impairment was not previously recognized — — — — Additional credit losses on debt securities for which other-than-temporary impairment was previously recognized — — — — Increases in cash flows expected to be collected, recognized over the remaining life of the security (b) — — — (223 ) Reduction for debt securities sold during the period — — — (9,164 ) Reduction for debt securities called during the period — — — (2,821 ) Balance, ending $ — $ — $ — $ — (a) The beginning balance represents credit related losses included in other-than-temporary impairment charges recognized on debt securities in prior periods. (b) Represents the increase in cash flows recognized in interest income during the period. Other Investments As a member of the Federal Home Loan Bank ("FHLB"), First Commonwealth is required to purchase and hold stock in the FHLB to satisfy membership and borrowing requirements. The level of stock required to be held is dependent on the amount of First Commonwealth's mortgage-related assets and outstanding borrowings with the FHLB. This stock is restricted in that it can only be sold to the FHLB or to another member institution, and all sales of FHLB stock must be at par. As a result of these restrictions, FHLB stock is unlike other investment securities insofar as there is no trading market for FHLB stock and the transfer price is determined by FHLB membership rules and not by market participants. As of September 30, 2019 and December 31, 2018 , our FHLB stock totaled $9.9 million and $30.5 million , respectively, and is included in “Other investments” on the Consolidated Statements of Financial Condition. FHLB stock is held as a long-term investment and its value is determined based on the ultimate recoverability of the par value. First Commonwealth evaluates impairment quarterly and has concluded that the par value of its investment in FHLB stock will be recovered. Accordingly, no impairment charge was recorded on these securities during the three and nine months ended September 30, 2019 . As of both September 30, 2019 and December 31, 2018 , "Other investments" also includes $1.7 million in equity securities. These securities do not have a readily determinable fair value and are carried at cost. During the nine -months ended September 30, 2019 and 2018 , there were no |
Loans and Allowance for Credit
Loans and Allowance for Credit Losses | 9 Months Ended |
Sep. 30, 2019 | |
Loans and Leases Receivable Disclosure [Abstract] | |
Loans and Allowance for Credit Losses | Loans and Allowance for Credit Losses The following table provides outstanding balances related to each of our loan types: September 30, 2019 December 31, 2018 Originated Acquired Total Originated Acquired Total (dollars in thousands) Commercial, financial, agricultural and other $ 1,173,070 $ 37,866 $ 1,210,936 $ 1,100,947 $ 37,526 $ 1,138,473 Real estate construction 413,562 6,719 420,281 353,008 5,970 358,978 Residential real estate 1,380,486 285,734 1,666,220 1,313,645 248,760 1,562,405 Commercial real estate 1,947,533 176,707 2,124,240 1,922,349 201,195 2,123,544 Loans to individuals 662,838 15,046 677,884 585,347 5,392 590,739 Total loans $ 5,577,489 $ 522,072 $ 6,099,561 $ 5,275,296 $ 498,843 $ 5,774,139 Credit Quality Information As part of the on-going monitoring of credit quality within the loan portfolio, the following credit worthiness categories are used in grading our loans: Pass Acceptable levels of risk exist in the relationship. Includes all loans not classified as OAEM, substandard or doubtful. Other Assets Especially Mentioned (OAEM) Potential weaknesses that deserve management’s close attention. The potential weaknesses may result in deterioration of the repayment prospects or weaken the Company’s credit position at some future date. The credit risk may be relatively minor, yet constitute an undesirable risk in light of the circumstances surrounding the specific credit. No loss of principal or interest is expected. Substandard Well-defined weakness or a weakness that jeopardizes the repayment of the debt. A loan may be classified as substandard as a result of deterioration of the borrower’s financial condition and repayment capacity. Loans for which repayment plans have not been met or collateral equity margins do not protect the Company may also be classified as substandard. Doubtful Loans with the characteristics of substandard loans with the added characteristic that collection or liquidation in full, on the basis of presently existing facts and conditions, is highly improbable. The use of creditworthiness categories to grade loans permits management’s use of migration analysis to estimate a portion of credit risk. The Company’s internal creditworthiness grading system provides a measurement of credit risk based primarily on an evaluation of the borrower’s cash flow and collateral. Movement between these rating categories provides a predictive measure of credit losses and therefore assists in determining the appropriate level for the loan loss reserves. Category ratings are reviewed each quarter, at which time management analyzes the results, as well as other external statistics and factors related to loan performance. Loans that migrate towards higher risk rating levels generally have an increased risk of default, whereas loans that migrate toward lower risk ratings generally will result in a lower risk factor being applied to those related loan balances. The following tables represent our credit risk profile by creditworthiness: September 30, 2019 Commercial, financial, agricultural and other Real estate construction Residential real estate Commercial real estate Loans to individuals Total (dollars in thousands) Originated loans Pass $ 1,115,341 $ 413,535 $ 1,371,231 $ 1,902,969 $ 662,535 $ 5,465,611 Non-Pass OAEM 49,258 27 487 22,709 — 72,481 Substandard 8,471 — 8,768 21,855 303 39,397 Doubtful — — — — — — Total Non-Pass 57,729 27 9,255 44,564 303 111,878 Total $ 1,173,070 $ 413,562 $ 1,380,486 $ 1,947,533 $ 662,838 $ 5,577,489 Acquired loans Pass $ 30,986 $ 6,134 $ 283,171 $ 169,935 $ 15,033 $ 505,259 Non-Pass OAEM 2,143 585 637 2,126 — 5,491 Substandard 4,737 — 1,926 4,646 13 11,322 Doubtful — — — — — — Total Non-Pass 6,880 585 2,563 6,772 13 16,813 Total $ 37,866 $ 6,719 $ 285,734 $ 176,707 $ 15,046 $ 522,072 December 31, 2018 Commercial, financial, agricultural and other Real estate construction Residential real estate Commercial real estate Loans to individuals Total (dollars in thousands) Originated loans Pass $ 1,055,394 $ 337,367 $ 1,302,912 $ 1,880,139 $ 585,141 $ 5,160,953 Non-Pass OAEM 33,723 15,641 1,026 28,904 — 79,294 Substandard 11,830 — 9,707 13,306 206 35,049 Doubtful — — — — — — Total Non-Pass 45,553 15,641 10,733 42,210 206 114,343 Total $ 1,100,947 $ 353,008 $ 1,313,645 $ 1,922,349 $ 585,347 $ 5,275,296 Acquired loans Pass $ 31,399 $ 5,337 $ 245,637 $ 198,201 $ 5,377 $ 485,951 Non-Pass OAEM 5,890 633 736 441 — 7,700 Substandard 237 — 2,387 2,553 15 5,192 Doubtful — — — — — — Total Non-Pass 6,127 633 3,123 2,994 15 12,892 Total $ 37,526 $ 5,970 $ 248,760 $ 201,195 $ 5,392 $ 498,843 Portfolio Risks The credit quality of our loan portfolio can potentially represent significant risk to our earnings, capital and liquidity. First Commonwealth devotes substantial resources to managing this risk primarily through our credit administration department that develops and administers policies and procedures for underwriting, maintaining, monitoring and collecting loans. Credit administration is independent of lending departments and oversight is provided by the Credit Committee of the First Commonwealth Board of Directors. Criticized loans have been evaluated when determining the appropriateness of the allowance for credit losses, which we believe is adequate to absorb losses inherent to the portfolio as of September 30, 2019 . However, changes in economic conditions, interest rates, borrower financial condition, delinquency trends or previously established fair values of collateral factors could significantly change those judgmental estimates. Age Analysis of Past Due Loans by Segment The following tables delineate the aging analysis of the recorded investments in past due loans as of September 30, 2019 and December 31, 2018 . Also included in these tables are loans that are 90 days or more past due and still accruing because they are well-secured and in the process of collection. September 30, 2019 30 - 59 60 - 89 90 days Nonaccrual Total past Current Total (dollars in thousands) Originated loans Commercial, financial, agricultural and other $ 165 $ 345 $ 26 $ 4,808 $ 5,344 $ 1,167,726 $ 1,173,070 Real estate construction — — — — — 413,562 413,562 Residential real estate 4,756 1,438 935 6,465 13,594 1,366,892 1,380,486 Commercial real estate 671 406 103 7,590 8,770 1,938,763 1,947,533 Loans to individuals 3,090 775 845 302 5,012 657,826 662,838 Total $ 8,682 $ 2,964 $ 1,909 $ 19,165 $ 32,720 $ 5,544,769 $ 5,577,489 Acquired loans Commercial, financial, agricultural and other $ 10 $ — $ 4 $ 4,693 $ 4,707 $ 33,159 $ 37,866 Real estate construction — — — — — 6,719 6,719 Residential real estate 394 101 119 1,818 2,432 283,302 285,734 Commercial real estate — — — 1,612 1,612 175,095 176,707 Loans to individuals 220 16 22 13 271 14,775 15,046 Total $ 624 $ 117 $ 145 $ 8,136 $ 9,022 $ 513,050 $ 522,072 December 31, 2018 30 - 59 60 - 89 90 days Nonaccrual Total past Current Total (dollars in thousands) Originated loans Commercial, financial, agricultural and other $ 130 $ 247 $ 92 $ 10,223 $ 10,692 $ 1,090,255 $ 1,100,947 Real estate construction 212 — — — 212 352,796 353,008 Residential real estate 3,697 710 790 6,238 11,435 1,302,210 1,313,645 Commercial real estate 492 69 — 3,437 3,998 1,918,351 1,922,349 Loans to individuals 2,362 532 662 207 3,763 581,584 585,347 Total $ 6,893 $ 1,558 $ 1,544 $ 20,105 $ 30,100 $ 5,245,196 $ 5,275,296 Acquired loans Commercial, financial, agricultural and other $ 1 $ — $ — $ 204 $ 205 $ 37,321 $ 37,526 Real estate construction — — — — — 5,970 5,970 Residential real estate 226 24 27 1,904 2,181 246,579 248,760 Commercial real estate — — — 1,042 1,042 200,153 201,195 Loans to individuals 46 12 11 15 84 5,308 5,392 Total $ 273 $ 36 $ 38 $ 3,165 $ 3,512 $ 495,331 $ 498,843 Nonaccrual Loans The previous tables summarize nonaccrual loans by loan segment. The Company generally places loans on nonaccrual status when the full and timely collection of interest or principal becomes uncertain, when part of the principal balance has been charged off and no restructuring has occurred, or the loans reach a certain number of days past due. Generally, loans 90 days or more past due are placed on nonaccrual status, except for consumer loans, which are placed on nonaccrual status at 150 days past due. When a loan is placed on nonaccrual, the accrued unpaid interest receivable is reversed against interest income and all future payments received are applied as a reduction to the loan principal. Generally, the loan is returned to accrual status when (a) all delinquent interest and principal becomes current under the terms of the loan agreement or (b) the loan is both well-secured and in the process of collection and collectability is no longer in doubt. Impaired Loans Management considers loans to be impaired when, based on current information and events, it is determined that the Company will not be able to collect all amounts due according to the loan contract, including scheduled interest payments. Determination of impairment is treated the same across all loan categories. When management identifies a loan as impaired, the impairment is measured based on the present value of expected future cash flows, discounted at the loan’s effective interest rate, except when the sole source for repayment of the loan is the operation or liquidation of collateral. When the loan is collateral dependent, the appraised value less estimated cost to sell is utilized. If management determines the value of the impaired loan is less than the recorded investment in the loan, impairment is recognized through an allowance estimate or a charge-off to the allowance. Troubled debt restructured loans on accrual status are also considered to be impaired loans. Troubled debt restructured loans are those loans whose terms have been renegotiated to provide a reduction or deferral of principal or interest as a result of the financial difficulties experienced by the borrower, who could not obtain comparable terms from alternate financing sources. When the ultimate collectability of the total principal of an impaired loan is in doubt and the loan is on nonaccrual status, all payments are applied to principal under the cost recovery method. When the ultimate collectability of the total principal of an impaired loan is not in doubt and the loan is on nonaccrual status, contractual interest is credited to interest income when received under the cash basis method. At September 30, 2019 and December 31, 2018 , there were no impaired loans held for sale. During the nine months ended , September 30, 2019 , gains of $0.4 million were recognized on the sale of an impaired commercial real estate loan. There were gains of $1.2 million recognized on the sale of an impaired commercial, financial, agricultural and other relationship during the nine months ended September 30, 2018 . The following tables include the recorded investment and unpaid principal balance for impaired loans with the associated allowance amount, if applicable, as of September 30, 2019 and December 31, 2018 . Also presented are the average recorded investment in impaired loans and the related amount of interest recognized while the loan was considered impaired. Average balances are calculated using month-end balances of the loans for the period reported and are included in the table below based on their period-end allowance position. September 30, 2019 December 31, 2018 Recorded Unpaid Related Recorded Unpaid Related (dollars in thousands) Originated loans: With no related allowance recorded: Commercial, financial, agricultural and other $ 1,638 $ 7,014 $ 8,735 $ 16,442 Real estate construction — — — — Residential real estate 9,760 11,516 10,726 12,571 Commercial real estate 3,274 3,502 3,599 3,812 Loans to individuals 392 593 281 408 Subtotal 15,064 22,625 23,341 33,233 With an allowance recorded: Commercial, financial, agricultural and other 4,644 6,386 $ 1,054 3,042 3,181 $ 797 Real estate construction — — — — — — Residential real estate 920 976 4 486 495 107 Commercial real estate 6,408 6,543 469 1,866 1,878 596 Loans to individuals — — — — — — Subtotal 11,972 13,905 1,527 5,394 5,554 1,500 Total $ 27,036 $ 36,530 $ 1,527 $ 28,735 $ 38,787 $ 1,500 September 30, 2019 December 31, 2018 Recorded Unpaid Related Recorded Unpaid Related (dollars in thousands) Acquired loans With no related allowance recorded: Commercial, financial, agricultural and other $ 4,693 $ 4,717 $ 73 $ 73 Real estate construction — — — — Residential real estate 1,971 2,413 2,031 2,604 Commercial real estate 1,459 2,843 1,042 2,052 Loans to individuals 13 15 15 17 Subtotal 8,136 9,988 3,161 4,746 With an allowance recorded: Commercial, financial, agricultural and other — — $ — 131 131 $ 131 Real estate construction — — — — — — Residential real estate — — — — — — Commercial real estate 153 165 19 — — — Loans to individuals — — — — — — Subtotal 153 165 19 131 131 131 Total $ 8,289 $ 10,153 $ 19 $ 3,292 $ 4,877 $ 131 For the Nine Months Ended September 30, 2019 2018 Originated Loans Acquired Loans Originated Loans Acquired Loans Average Interest Average Interest Average Interest Average Interest (dollars in thousands) With no related allowance recorded: Commercial, financial, agricultural and other $ 2,129 $ 10 $ 2,255 $ — $ 17,838 $ 576 $ 261 $ 10 Real estate construction — — — — — — — — Residential real estate 10,751 280 1,966 6 10,639 191 1,779 3 Commercial real estate 3,854 129 636 18 7,632 146 1,558 — Loans to individuals 356 11 14 — 322 6 16 — Subtotal 17,090 430 4,871 24 36,431 919 3,614 13 With an allowance recorded: Commercial, financial, agricultural and other 4,064 36 — — 5,979 16 — — Real estate construction — — — — — — — — Residential real estate 347 6 — — 532 11 — Commercial real estate 5,357 2 160 — 1,787 3 — — Loans to individuals — — — — — — — — Subtotal 9,768 44 160 — 8,298 30 — — Total $ 26,858 $ 474 $ 5,031 $ 24 $ 44,729 $ 949 $ 3,614 $ 13 For the Three Months Ended September 30, 2019 2018 Originated Loans Acquired Loans Originated Loans Acquired Loans Average Interest Average Interest Average Interest Average Interest (dollars in thousands) With no related allowance recorded: Commercial, financial, agricultural and other $ 1,902 $ 3 $ 4,697 $ — $ 5,697 $ 8 $ 73 $ 10 Real estate construction — — — — — — — — Residential real estate 10,254 86 1,950 1 10,627 59 2,541 2 Commercial real estate 3,582 28 666 — 6,810 59 1,955 — Loans to individuals 389 4 13 — 320 2 16 — Subtotal 16,127 121 7,326 1 23,454 128 4,585 12 With an allowance recorded: Commercial, financial, agricultural and other 4,677 8 — — 10,298 4 — — Real estate construction — — — — — — — — Residential real estate 740 1 — — 565 2 — — Commercial real estate 6,443 1 155 — 4,342 1 — — Loans to individuals — — — — — — — — Subtotal 11,860 10 155 — 15,205 7 — — Total $ 27,987 $ 131 $ 7,481 $ 1 $ 38,659 $ 135 $ 4,585 $ 12 Unfunded commitments related to nonperforming loans were $0.2 million at September 30, 2019 and $1.6 million at December 31, 2018 . After consideration of the requirements to draw and available collateral related to these commitments, a reserve of $12 thousand was established for these off balance sheet exposures at both September 30, 2019 and December 31, 2018 . The following table provides detail as to the total troubled debt restructured loans and total commitments outstanding on troubled debt restructured loans: September 30, 2019 December 31, 2018 (dollars in thousands) Troubled debt restructured loans Accrual status $ 8,024 $ 8,757 Nonaccrual status 11,074 11,761 Total $ 19,098 $ 20,518 Commitments Letters of credit $ 60 $ 60 Unused lines of credit 131 1,027 Total $ 191 $ 1,087 The following tables provide detail, including specific reserves and reasons for modification, related to loans identified as troubled debt restructurings: For the Nine Months Ended September 30, 2019 Type of Modification Number Extend Modify Modify Total Post- Specific (dollars in thousands) Commercial, financial, agricultural and other 2 $ — $ — $ 156 $ 156 $ 157 $ — Residential real estate 14 17 149 842 1,008 933 1 Commercial real estate 3 — — 6,119 6,119 5,740 397 Loans to individuals 7 — — 98 98 87 — Total 26 $ 17 $ 149 $ 7,215 $ 7,381 $ 6,917 $ 398 For the Nine Months Ended September 30, 2018 Type of Modification Number Extend Modify Modify Total Post- Specific (dollars in thousands) Commercial, financial, agricultural and other 3 $ 74 $ — $ 8,250 $ 8,324 $ 7,393 $ 2,811 Residential real estate 24 85 145 959 1,189 1,108 — Commercial real estate 2 — — 966 966 943 — Loans to individuals 13 — 77 44 121 103 — Total 42 $ 159 $ 222 $ 10,219 $ 10,600 $ 9,547 $ 2,811 The troubled debt restructurings included in the above tables are also included in the impaired loan tables provided earlier in this note. Loans defined as modified due to a change in rate may include loans that were modified for a change in rate as well as a re-amortization of the principal and an extension of the maturity. For both the nine months ended September 30, 2019 and 2018 , $0.1 million and $0.2 million , respectively, of total rate modifications represent loans with modifications to the rate as well as payment as a result of re-amortization. For both 2019 and 2018 the changes in loan balances between the pre-modification balance and the post-modification balance are due to customer payments. The following tables provide detail, including specific reserves and reasons for modification, related to loans identified as troubled debt restructurings: For the Three Months Ended September 30, 2019 Type of Modification Number Extend Modify Modify Total Post- Specific (dollars in thousands) Commercial, financial, agricultural and other 1 $ — $ — $ 95 $ 95 $ 96 $ — Residential real estate 3 — 32 53 85 85 — Loans to individuals 2 — — 37 37 34 — Total 6 $ — $ 32 $ 185 $ 217 $ 215 $ — For the Three Months Ended, September 30, 2018 Type of Modification Number Extend Modify Modify Total Post- Specific (dollars in thousands) Commercial, financial, agricultural and other 1 $ 74 $ — $ — $ 74 $ 74 $ — Residential real estate 7 65 70 230 365 338 — Loans to individuals 6 — 26 17 43 40 — Total 14 $ 139 $ 96 $ 247 $ 482 $ 452 $ — The troubled debt restructurings included in the above tables are also included in the impaired loan tables provided earlier in this note. Loans defined as modified due to a change in rate may include loans that were modified for a change in rate as well as a re-amortization of the principal and an extension of the maturity. For the three months ended September 30, 2019 and 2018 , $32 thousand and $96 thousand , respectively, of total rate modifications represent loans with modifications to the rate as well as payment as a result of re-amortization. For both 2019 and 2018 the changes in loan balances between the pre-modification balance and the post-modification balance are due to customer payments. A troubled debt restructuring is considered to be in default when a restructured loan is 90 days or more past due. The following table provides information related to loans that were restructured within the past twelve months and that were considered to be in default during the nine months ended September 30 : 2019 2018 Number of Recorded Number of Recorded (dollars in thousands) Commercial, financial, agricultural and other — $ — 1 $ 272 Residential real estate 3 70 1 49 Loans to individuals — — 1 8 Total 3 $ 70 3 $ 329 The following table provides information related to loans that were restructured within the past twelve months and that were considered to be in default during the three months ended September 30 : 2019 2018 Number of Recorded Number of Recorded (dollars in thousands) Residential real estate 2 $ 49 1 $ 49 Loans to individuals — $ — 1 $ 8 Total 2 $ 49 2 $ 57 The following tables provide detail related to the allowance for credit losses: For the Nine Months Ended September 30, 2019 Commercial, Real estate Residential Commercial Loans to Total (dollars in thousands) Allowance for credit losses: Originated loans: Beginning balance $ 19,235 $ 2,002 $ 3,934 $ 18,382 $ 4,033 $ 47,586 Charge-offs (1,584 ) — (617 ) (305 ) (4,049 ) (6,555 ) Recoveries 180 158 190 160 419 1,107 Provision (credit) 2,109 250 409 790 4,310 7,868 Ending balance 19,940 2,410 3,916 19,027 4,713 50,006 Acquired loans: Beginning balance 139 — 35 4 — 178 Charge-offs (601 ) — (46 ) (1,376 ) (9 ) (2,032 ) Recoveries 53 — 46 — 14 113 Provision (credit) 416 — (34 ) 1,393 (5 ) 1,770 Ending balance 7 — 1 21 — 29 Total ending balance $ 19,947 $ 2,410 $ 3,917 $ 19,048 $ 4,713 $ 50,035 Ending balance: individually evaluated for impairment $ 1,054 $ — $ 4 $ 488 $ — $ 1,546 Ending balance: collectively evaluated for impairment 18,893 2,410 3,913 18,560 4,713 48,489 Loans: Ending balance 1,210,936 420,281 1,666,220 2,124,240 677,884 6,099,561 Ending balance: individually evaluated for impairment 10,417 — 4,102 10,825 — 25,344 Ending balance: collectively evaluated for impairment 1,200,519 420,281 1,662,118 2,113,415 677,884 6,074,217 For the Nine Months Ended September 30, 2018 Commercial, Real estate Residential Commercial Loans to Total (dollars in thousands) Allowance for credit losses: Originated loans: Beginning balance $ 23,418 $ 1,349 $ 2,753 $ 17,328 $ 3,404 $ 48,252 Charge-offs (3,443 ) — (949 ) (2,411 ) (3,321 ) (10,124 ) Recoveries 671 93 222 123 460 1,569 Provision (credit) 1,343 150 1,584 4,623 3,274 10,974 Ending balance 21,989 1,592 3,610 19,663 3,817 50,671 Acquired loans: Beginning balance 11 — 6 29 — 46 Charge-offs (93 ) — (57 ) — (15 ) (165 ) Recoveries 31 6 75 — 24 136 Provision (credit) 71 (6 ) 23 (21 ) (9 ) 58 Ending balance 20 — 47 8 — 75 Total ending balance $ 22,009 $ 1,592 $ 3,657 $ 19,671 $ 3,817 $ 50,746 Ending balance: individually evaluated for impairment $ 3,474 $ — $ 167 $ 1,722 $ — $ 5,363 Ending balance: collectively evaluated for impairment 18,535 1,592 3,490 17,949 3,817 45,383 Loans: Ending balance 1,116,204 298,395 1,533,338 2,136,431 578,414 5,662,782 Ending balance: individually evaluated for impairment 12,864 — 4,522 12,012 — 29,398 Ending balance: collectively evaluated for impairment 1,103,340 298,395 1,528,816 2,124,419 578,414 5,633,384 For the Three Months Ended September 30, 2019 Commercial, Real estate Residential Commercial Loans to Total (dollars in thousands) Allowance for credit losses: Originated loans: Beginning balance $ 20,678 $ 2,491 $ 4,133 $ 19,287 $ 4,407 $ 50,996 Charge-offs (742 ) — (383 ) (6 ) (1,571 ) (2,702 ) Recoveries 41 74 6 81 162 364 Provision (credit) (37 ) (155 ) 160 (335 ) 1,715 1,348 Ending balance 19,940 2,410 3,916 19,027 4,713 50,006 Acquired loans: Beginning balance 15 — 25 25 — 65 Charge-offs (49 ) — — (1,376 ) (3 ) (1,428 ) Recoveries 21 — 11 — — 32 Provision (credit) 20 — (35 ) 1,372 3 1,360 Ending balance 7 — 1 21 — 29 Total ending balance $ 19,947 $ 2,410 $ 3,917 $ 19,048 $ 4,713 $ 50,035 For the Three Months Ended, September 30, 2018 Commercial, Real estate Residential Commercial Loans to Total (dollars in thousands) Allowance for credit losses: Originated loans: Beginning balance $ 25,082 $ 1,262 $ 3,556 $ 17,731 $ 3,527 $ 51,158 Charge-offs (2,582 ) — (268 ) — (1,076 ) (3,926 ) Recoveries 53 92 26 36 153 360 Provision (credit) (564 ) 238 296 1,896 1,213 3,079 Ending balance 21,989 1,592 3,610 19,663 3,817 50,671 Acquired loans: Beginning balance 23 — 127 6 — 156 Charge-offs — — (9 ) — (4 ) (13 ) Recoveries 13 — 25 — 12 50 Provision (credit) (16 ) — (96 ) 2 (8 ) (118 ) Ending balance 20 — 47 8 — 75 Total ending balance $ 22,009 $ 1,592 $ 3,657 $ 19,671 $ 3,817 $ 50,746 |
Leases Leases
Leases Leases | 9 Months Ended |
Sep. 30, 2019 | |
Leases [Abstract] | |
Leases of Lessee Disclosure [Text Block] | Note 10 Leases On January 1, 2019, the Company adopted ASU 2016-02 “Leases” (Topic 842) and all subsequent ASUs that modified Topic 842 using the transition option provided in ASU 2018-11, which provides for the modified retrospective approach. Under this approach comparative periods were not restated and no cumulative effect adjustment to the opening balance of retained earnings was required. First Commonwealth has elected to apply certain practical expedients provided under the standard including (i) to not apply the requirements in the new standard to short-term leases (ii) to not reassess the lease classification for any expired or existing lease (iii) to account for lease and non-lease components separately (iv) to not reassess initial direct costs for any existing leases. The impact of this standard primarily relates to operating leases of certain real estate properties, primarily certain branch and ATM locations and office space. First Commonwealth has no material leasing arrangements for which it is the lessor of property or equipment. Adoption of this standard resulted in the Company recognizing an ROU asset of $38.5 million and a lease liability of $41.8 million on January 1, 2019. The following table represents the Consolidated Statements of Condition classification of the Company’s ROU assets and lease liabilities, lease costs and other lease information as of and for the nine months ended September 30, 2019 (dollars in thousands). Balance sheet: Operating lease asset classified as premises and equipment $ 49,548 Operating lease liability classified as other liabilities 53,737 Income statement: Operating lease cost classified as occupancy and equipment expense for the nine months ended September 30, 2019 $ 3,959 Operating lease cost classified as occupancy and equipment expense for the three months ended September 30, 2019 1,275 Weighted average lease term, in years 15.44 Weighted average discount rate 3.42 % Operating cash flows $ 3,351 The ROU assets and lease liabilities are impacted by the length of the lease term and the discount rate used to present value the minimum lease payments. First Commonwealth's lease agreements often include one or more options to renew at the Company's discretion. If we consider the renewal option to be reasonably certain, we include the extended term in the calculation of the ROU asset and lease liability. First Commonwealth uses incremental borrowing rates when calculating the lease liability because the rate implicit in the lease is not readily determinable. The incremental borrowing rate used by First Commonwealth is an amortizing loan rate obtained from the Federal Home Loan Bank ("FHLB") of Pittsburgh. This rate is consistent with a collateralized borrowing rate and is available for terms similar to the lease payment schedules. Future minimum payments for operating leases with initial or remaining terms of one year or more as of September 30, 2019 were as follows (dollars in thousands): For the twelve months ended: September 30, 2020 $ 5,223 September 30, 2021 5,084 September 30, 2022 4,989 September 30, 2023 4,954 September 30, 2024 4,824 Thereafter 45,583 Total future minimum lease payments 70,657 Less remaining imputed interest 16,920 Present value of future minimum lease payments $ 53,737 |
Income Taxes
Income Taxes | 9 Months Ended |
Sep. 30, 2019 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | Income Taxes In accordance with FASB ASC Topic 740-10, “Accounting for Uncertainty in Income Taxes”, at September 30, 2019 and December 31, 2018 , First Commonwealth had no material unrecognized tax benefits or accrued interest and penalties. If applicable, First Commonwealth will record interest and penalties as a component of noninterest expense. First Commonwealth is subject to routine audits of our tax returns by the Internal Revenue Service (“IRS”) as well as all states in which we conduct business. Generally, tax years prior to the year ended December 31, 2016 are no longer open to examination by federal and state taxing authorities. During the first quarter of 2018, First Commonwealth adopted ASU No. 2018-02, "Income Statement - Reporting Comprehensive Income (Topic 220)". Adoption of this ASU reclassified the stranded other accumulated income of $1.3 million resulting from the tax reform passed in December 2017 from accumulated other comprehensive income to retained earnings. There was no impact to total equity as a result of the adoption of this update. |
Fair Values of Assets and Liabi
Fair Values of Assets and Liabilities | 9 Months Ended |
Sep. 30, 2019 | |
Fair Value Disclosures [Abstract] | |
Fair Values of Assets and Liabilities | Fair Values of Assets and Liabilities FASB ASC Topic 820, “Fair Value Measurements and Disclosures,” requires disclosures for non-financial assets and non-financial liabilities, except for items that are recognized or disclosed at fair value in the financial statements on a recurring basis (at least annually). All non-financial assets are included either as a separate line item on the Consolidated Statements of Financial Condition or in the “Other assets” category of the Consolidated Statements of Financial Condition. Currently, First Commonwealth does not have any non-financial liabilities to disclose. FASB ASC Topic 825, “Financial Instruments”, permits entities to irrevocably elect to measure select financial instruments and certain other items at fair value. The unrealized gains and losses are required to be included in earnings each reporting period for the items that fair value measurement is elected. First Commonwealth has elected not to measure any existing financial instruments at fair value under FASB ASC Topic 825; however, in the future we may elect to adopt this guidance for select financial instruments. In accordance with FASB ASC Topic 820, First Commonwealth groups financial assets and financial liabilities measured at fair value in three levels based on the principal markets in which the assets and liabilities are transacted and the observability of the data points used to determine fair value. These levels are: • Level 1 – Valuations for assets and liabilities traded in active exchange markets, such as the New York Stock Exchange (“NYSE”). Valuations are obtained from readily available pricing sources for market transactions involving identical assets or liabilities. • Level 2 – Valuations for assets and liabilities traded in less active dealer or broker markets. Valuations are obtained for identical or comparable assets or liabilities from alternative pricing sources with reasonable levels of price transparency. Level 2 includes Obligations of U.S. Government securities issued by Agencies and Sponsored Enterprises, Obligations of States and Political Subdivisions, corporate securities, FHLB stock, loans held for sale, interest rate derivatives (including interest rate caps, interest rate collars, interest rate swaps and risk participation agreements), certain other real estate owned and certain impaired loans. Level 2 investment securities are valued by a recognized third party pricing service using observable inputs. The model used by the pricing service varies by asset class and incorporates available market, trade and bid information as well as cash flow information when applicable. Because many fixed-income investment securities do not trade on a daily basis, the model uses available information such as benchmark yield curves, benchmarking of like investment securities, sector groupings and matrix pricing. The model will also use processes such as an option adjusted spread to assess the impact of interest rates and to develop prepayment estimates. Market inputs normally used in the pricing model include benchmark yields, reported trades, broker/dealer quotes, issuer spreads, two-sided markets, benchmark securities, bids, offers and reference data including market research publications. Management validates the market values provided by the third party service by having another recognized pricing service price 100% of the securities on an annual basis and a random sample of securities each quarter, monthly monitoring of variances from prior period pricing and, on a monthly basis, evaluating pricing changes compared to expectations based on changes in the financial markets. Other investments recorded in the Consolidated Statements of Financial Condition are primarily comprised of FHLB stock whose estimated fair value is based on its par value. Additional information on FHLB stock is provided in Note 8, “Impairment of Investment Securities.” Loans held for sale primarily include residential mortgage loans originated for sale in the secondary mortgage market. The estimated fair value for these loans was determined on the basis of rates obtained in the respective secondary market. Loans held for sale could also include commercial loans for which fair value is determined using an executed trade or market bid obtained from potential buyers. Interest rate derivatives are reported at an estimated fair value utilizing Level 2 inputs and are included in other assets and other liabilities, and consist of interest rate swaps where there is no significant deterioration in the counterparties' and/or loan customers' credit risk since origination of the interest rate swap as well as interest rate caps, interest rate collars and risk participation agreements. First Commonwealth values its interest rate swap and cap positions using a yield curve by taking market prices/rates for an appropriate set of instruments. The set of instruments currently used to determine the U.S. Dollar yield curve includes cash LIBOR rates from overnight to one year, Eurodollar futures contracts and swap rates from one year to thirty years. These yield curves determine the valuations of interest rate swaps. Interest rate derivatives are further described in Note 13, “Derivatives.” For purposes of potential valuation adjustments to our derivative positions, First Commonwealth evaluates the credit risk of its counterparties as well as our own credit risk. Accordingly, we have considered factors such as the likelihood of default, expected loss given default, net exposures and remaining contractual life, among other things, in determining if any fair value adjustments related to credit risk are required. We review our counterparty exposure quarterly, and when necessary, appropriate adjustments are made to reflect the exposure. We also utilize this approach to estimate our own credit risk on derivative liability positions. In 2019 , we have not realized any losses due to a counterparty's inability to pay any uncollateralized positions. Interest rate derivatives also include interest rate forwards entered into to hedge residential mortgage loans held for sale and the related interest-rate lock commitments. This includes forward commitments to sell mortgage loans. The fair value of these derivative financial instruments are based on derivative market data inputs as of the valuation date and the underlying value of mortgage loans for rate lock commitments. In addition, the Company hedges foreign currency risk through the use of foreign exchange forward contracts. The fair value of foreign exchange forward contracts is based on the differential between the contract price and the market-based forward rate. The estimated fair value for other real estate owned included in Level 2 is determined by either an independent market-based appraisal less estimated costs to sell or an executed sales agreement. • Level 3 – Valuations for assets and liabilities that are derived from other valuation methodologies, including option pricing models, discounted cash flow models and similar techniques, and not based on market exchange, dealer or broker traded transactions. If the inputs used to provide the valuation are unobservable and/or there is very little, if any, market activity for the security or similar securities, the securities would be considered Level 3 securities. Level 3 valuations incorporate certain assumptions and projections in determining the fair value assigned to such assets or liabilities. The assets included in Level 3 are pooled trust preferred collateralized debt obligations, non-marketable equity investments, certain interest rate derivatives, certain other real estate owned and certain impaired loans. The estimated fair value of other investments included in Level 3 is based on carrying value as these securities do not have a readily determinable fair value. The estimated fair value of limited partnership investments included in Level 3 is based on par value. For interest rate derivatives included in Level 3, the fair value incorporates credit risk by considering such factors as likelihood of default and expected loss given default based on the credit quality of the underlying counterparties (loan customers). In accordance with ASU No. 2011 -4 , "Fair Value Measurements (Topic 820)," the following table provides information related to quantitative inputs and assumptions used in September 30, 2019 Level 3 fair value measurements. Fair Value (dollars Valuation Unobservable Inputs Range / Other Investments $ 1,670 CarryingValue N/A N/A Impaired Loans 932 (a) Reserve study Discount rate 10.00% Gas per MMBTU $2.61 - $3.49 (b) Oil per BBL/d $47.09 - $53.14 (b) 2,539 (a) Discounted Cash Flow Discount Rate 3.84% - 9.50% Limited Partnership Investments 4,131 Par Value N/A N/A (a) The remainder of impaired loans valued using Level 3 inputs are not included in this disclosure as the values of those loans are based on bankruptcy agreement documentation. (b) Unobservable inputs are defined as follows: MMBTU - million British thermal units; BBL/d - barrels per day. The discount rate is the significant unobservable input used in the fair value measurement of impaired loans. Significant increases in this rate would result in a decrease in the estimated fair value of the loans, while a decrease in this rate would result in a higher fair value measurement. Other unobservable inputs in the fair value measurement of impaired loans relate to gas, oil and natural gas prices. Increases in these prices would result in an increase in the estimated fair value of the loans, while a decrease in these prices would result in a lower fair value measurement. The tables below present the balances of assets and liabilities measured at fair value on a recurring basis: September 30, 2019 Level 1 Level 2 Level 3 Total (dollars in thousands) Obligations of U.S. Government Agencies: Mortgage-Backed Securities - Residential $ — $ 8,767 $ — $ 8,767 Mortgage-Backed Securities - Commercial — 171,591 — 171,591 Obligations of U.S. Government-Sponsored Enterprises: Mortgage-Backed Securities - Residential — 584,824 — 584,824 Other Government-Sponsored Enterprises — 998 — 998 Obligations of States and Political Subdivisions — 22,168 — 22,168 Corporate Securities — 24,035 — 24,035 Total Securities Available for Sale — 812,383 — 812,383 Other Investments — 9,891 1,670 11,561 Loans Held for Sale — 20,288 — 20,288 Other Assets(a) — 27,571 4,131 31,702 Total Assets $ — $ 870,133 $ 5,801 $ 875,934 Other Liabilities(a) $ — $ 27,784 $ — $ 27,784 Total Liabilities $ — $ 27,784 $ — $ 27,784 (a) Hedging and non-hedging interest rate derivatives and limited partnership investments December 31, 2018 Level 1 Level 2 Level 3 Total (dollars in thousands) Obligations of U.S. Government Agencies: Mortgage-Backed Securities - Residential $ — $ 9,406 $ — $ 9,406 Mortgage-Backed Securities - Commercial — 167,744 — 167,744 Obligations of U.S. Government-Sponsored Enterprises: Mortgage-Backed Securities - Residential — 673,361 — 673,361 Other Government-Sponsored Enterprises — 10,012 — 10,012 Obligations of States and Political Subdivisions — 27,712 — 27,712 Corporate Securities — 21,012 — 21,012 Total Securities Available for Sale — 909,247 — 909,247 Other Investments — 30,456 1,670 32,126 Loans Held for Sale — 11,881 — 11,881 Other Assets(a) — 1,769 2,696 4,465 Total Assets $ — $ 953,353 $ 4,366 $ 957,719 Other Liabilities(a) $ — $ 2,081 $ — $ 2,081 Total Liabilities $ — $ 2,081 $ — $ 2,081 (a) Hedging and non-hedging interest rate derivatives and limited partnership investments For the nine months ended September 30 , changes in Level 3 assets and liabilities measured at fair value on a recurring basis are summarized as follows: 2019 Other Investments Other Total (dollars in thousands) Balance, beginning of period $ 1,670 $ 2,696 $ 4,366 Total gains or losses Included in earnings — 198 198 Included in other comprehensive income — — — Purchases, issuances, sales and settlements Purchases — 1,237 1,237 Issuances — — — Sales — — — Settlements — — — Transfers from Level 3 — — — Transfers into Level 3 — — — Balance, end of period $ 1,670 $ 4,131 $ 5,801 2018 Pooled Trust Preferred Collateralized Debt Obligations Other Investments Other Total (dollars in thousands) Balance, beginning of period $ 23,646 $ 1,670 $ 2,143 $ 27,459 Total gains or losses Included in earnings 8,102 — — 8,102 Included in other comprehensive income (118 ) — — (118 ) Purchases, issuances, sales and settlements Purchases — — 426 426 Issuances — — — — Sales (12,289 ) — — (12,289 ) Settlements (19,341 ) — (48 ) (19,389 ) Transfers from Level 3 — — — — Transfers into Level 3 — — — — Balance, end of period $ — $ 1,670 $ 2,521 $ 4,191 During the nine months ended September 30, 2019 and 2018 , there were no transfers between fair value Levels 1 , 2 or 3. There were no gains or losses included in earnings for the periods presented that are attributable to the change in realized gains (losses) relating to assets held at September 30, 2019 and 2018 . For the three months ended September 30 , changes in Level 3 assets and liabilities measured at fair value on a recurring basis are summarized as follows: 2019 Other Investments Other Total (dollars in thousands) Balance, beginning of period $ 1,670 $ 3,312 $ 4,982 Total gains or losses Included in earnings — 245 245 Included in other comprehensive income — — — Purchases, issuances, sales and settlements Purchases — 574 574 Issuances — — — Sales — — — Settlements — — — Transfers from Level 3 — — — Transfers into Level 3 — — — Balance, end of period $ 1,670 $ 4,131 $ 5,801 2018 Other Investments Other Total (dollars in thousands) Balance, beginning of period $ 1,670 $ 2,297 $ 3,967 Total gains or losses Included in earnings — — — Included in other comprehensive income — — — Purchases, issuances, sales and settlements Purchases — 272 272 Issuances — — — Sales — — — Settlements — (48 ) (48 ) Transfers from Level 3 — — — Transfers into Level 3 — — — Balance, end of period $ 1,670 $ 2,521 $ 4,191 During the three months ended September 30, 2019 and 2018 , there were no transfers between fair value Levels 1 , 2 or 3. There were no gains or losses included in earnings for the periods presented that are attributable to the change in realized gains (losses) relating to assets held at September 30, 2019 and 2018 . The tables below present the balances of assets measured at fair value on a nonrecurring basis at: September 30, 2019 Level 1 Level 2 Level 3 Total (dollars in thousands) Impaired loans $ — $ 20,407 $ 13,372 $ 33,779 Other real estate owned — 1,981 — 1,981 Total Assets $ — $ 22,388 $ 13,372 $ 35,760 December 31, 2018 Level 1 Level 2 Level 3 Total (dollars in thousands) Impaired loans $ — $ 15,076 $ 15,320 $ 30,396 Other real estate owned — 4,035 — 4,035 Total Assets $ — $ 19,111 $ 15,320 $ 34,431 The following (losses) gains were realized on the assets measured on a nonrecurring basis: For the Three Months Ended September 30, For the Nine Months Ended September 30, 2019 2018 2019 2018 (dollars in thousands) Impaired loans $ (954 ) $ (239 ) $ (2,606 ) $ (6,659 ) Other real estate owned (42 ) (128 ) (51 ) (544 ) Total losses $ (996 ) $ (367 ) $ (2,657 ) $ (7,203 ) Impaired loans over $100 thousand are individually reviewed to determine the amount of each loan considered to be at risk of non-collection. The fair value for impaired loans that are collateral based is determined by reviewing real property appraisals, equipment valuations, accounts receivable listings and other financial information. A discounted cash flow analysis is performed to determine fair value for impaired loans when an observable market price or a current appraisal is not available. For real estate secured loans, First Commonwealth’s loan policy requires updated appraisals be obtained at least every twelve months on all impaired loans with balances of $250 thousand and over. For real estate secured loans with balances under $250 thousand , we rely on broker price opinions. For non-real estate secured assets, the Company normally relies on third party valuations specific to the collateral type. The fair value for other real estate owned, determined by either an independent market-based appraisal less estimated costs to sell or an executed sales agreement, is classified as Level 2. The fair value for other real estate owned, determined using an internal valuation, is classified as Level 3. OREO has a current carrying value of $1.6 million as of September 30, 2019 and consists primarily of residential and commercial real estate properties in Pennsylvania. We review whether events and circumstances subsequent to a transfer to other real estate owned have occurred that indicate the balance of those assets may not be recoverable. If events and circumstances indicate further impairment we will record a charge to the extent that the carrying value of the assets exceed their fair values, less estimated cost to sell, as determined by valuation techniques appropriate in the circumstances. Certain other assets and liabilities, including goodwill and core deposit intangibles, are measured at fair value on a nonrecurring basis; that is, the instruments are not measured at fair value on an ongoing basis but are subject to fair value adjustments only in certain circumstances. Additional information related to goodwill is provided in Note 14, “Goodwill.” There were no other assets or liabilities measured at fair value on a nonrecurring basis during the nine months ended September 30, 2019 . FASB ASC 825-10, “Transition Related to FSP FAS 107 -1 ” and APB 28 -1 , “Interim Disclosures about Fair Value of Financial Instruments,” requires disclosure of the fair value of financial assets and financial liabilities, including those financial assets and financial liabilities that are not measured and reported at fair value on a recurring basis or nonrecurring basis. The methodologies for estimating the fair value of financial assets and financial liabilities that are measured at fair value on a recurring or nonrecurring basis are as discussed above. The methodologies for other financial assets and financial liabilities are discussed below. Cash and due from banks and interest-bearing bank deposits : The carrying amounts for cash and due from banks and interest-bearing bank deposits approximate the estimated fair values of such assets. Securities : Fair values for securities available for sale and held to maturity are based on quoted market prices, if available. If quoted market prices are not available, fair values are based on quoted market prices of comparable instruments. The carrying value of other investments, which includes FHLB stock and other equity investments, is considered a reasonable estimate of fair value. Loans : The fair values of all loans are estimated by discounting the estimated future cash flows using interest rates currently offered for loans with similar terms to borrowers of similar credit quality adjusted for past due and nonperforming loans. Loans held for sale : The estimated fair value of loans held for sale is based on market bids obtained from potential buyers. Off-balance sheet instruments : Many of First Commonwealth’s off-balance sheet instruments, primarily loan commitments and standby letters of credit, are expected to expire without being drawn upon; therefore, the commitment amounts do not necessarily represent future cash requirements. FASB ASC Topic 460, “Guarantees” clarified that a guarantor is required to recognize, at the inception of a guarantee, a liability for the fair value of the obligation undertaken in issuing the guarantee. The carrying amount and fair value for standby letters of credit was $0.2 million at both September 30, 2019 and December 31, 2018 , respectively. See Note 6, “Commitments and Contingent Liabilities,” for additional information. Deposit liabilities : The estimated fair value of demand deposits, savings accounts and money market deposits is the amount payable on demand at the reporting date because of the customers’ ability to withdraw funds immediately. The carrying value of variable rate time deposit accounts and certificates of deposit approximate their fair values at the report date. Also, fair values of fixed rate time deposits for both periods are estimated by discounting the future cash flows using interest rates currently being offered and a schedule of aggregated expected maturities. Short-term borrowings : The fair values of borrowings from the FHLB were estimated based on the estimated incremental borrowing rate for similar type borrowings. The carrying amounts of other short-term borrowings such as federal funds purchased and securities sold under agreement to repurchase were used to approximate fair value due to the short-term nature of the borrowings. Subordinated debt, long-term debt and capital lease obligation : The fair value is estimated by discounting the future cash flows using First Commonwealth’s estimate of the current market rate for similar types of borrowing arrangements or an announced redemption price. The following table presents carrying amounts and fair values of First Commonwealth’s financial instruments: September 30, 2019 Fair Value Measurements Using: Carrying Total Level 1 Level 2 Level 3 (dollars in thousands) Financial assets Cash and due from banks $ 112,241 $ 112,241 $ 112,241 $ — $ — Interest-bearing deposits 16,408 16,408 16,408 — — Securities available for sale 812,383 812,383 — 812,383 — Securities held to maturity 357,890 360,224 — 360,224 — Other investments 11,561 11,561 — 9,891 1,670 Loans held for sale 20,288 20,288 — 20,288 — Loans 6,099,561 6,213,529 — 20,407 6,193,122 Financial liabilities Deposits 6,677,996 6,685,082 — 6,685,082 — Short-term borrowings 83,735 83,698 — 83,698 — Subordinated debt 170,409 169,601 — — 169,601 Long-term debt 57,078 57,389 — 57,389 — Capital lease obligation 6,917 6,917 — 6,917 — December 31, 2018 Fair Value Measurements Using: Carrying Total Level 1 Level 2 Level 3 (dollars in thousands) Financial assets Cash and due from banks $ 95,934 $ 95,934 $ 95,934 $ — $ — Interest-bearing deposits 3,013 3,013 3,013 — — Securities available for sale 909,247 909,247 — 909,247 — Securities held to maturity 393,855 383,993 — 383,993 — Other investments 32,126 32,126 — 30,456 1,670 Loans held for sale 11,881 11,881 — 11,881 — Loans 5,774,139 5,821,791 — 15,076 5,806,715 Financial liabilities Deposits 5,897,992 5,904,147 — 5,904,147 — Short-term borrowings 721,823 721,532 — 721,532 — Subordinated debt 170,288 168,067 — — 168,067 Long-term debt 7,551 7,720 — 7,720 — Capital lease obligation 7,217 7,217 — 7,217 — |
Derivatives
Derivatives | 9 Months Ended |
Sep. 30, 2019 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Derivatives | Derivatives Derivatives Not Designated as Hedging Instruments First Commonwealth is a party to interest rate derivatives that are not designated as hedging instruments. These derivatives relate to interest rate swaps that First Commonwealth enters into with customers to allow customers to convert variable rate loans to a fixed rate. First Commonwealth pays interest to the customer at a floating rate on the notional amount and receives interest from the customer at a fixed rate for the same notional amount. At the same time the interest rate swap is entered into with the customer, an offsetting interest rate swap is entered into with another financial institution. First Commonwealth pays the other financial institution interest at the same fixed rate on the same notional amount as the swap entered into with the customer, and receives interest from the financial institution for the same floating rate on the same notional amount. The changes in the fair value of the swaps offset each other, except for the credit risk of the counterparties, which is determined by taking into consideration the risk rating, probability of default and loss given default for all counterparties. We have 35 risk participation agreements with financial institution counterparties for interest rate swaps related to loans in which we are a participant. The risk participation agreements provide credit protection to the financial institution should the borrower fail to perform on its interest rate derivative contract with the financial institution. We have 12 risk participation agreements with financial institution counterparties for interest rate swaps related to loans in which we are the lead bank. The risk participation agreement provides credit protection to us should the borrower fail to perform on its interest rate derivative contract with us. First Commonwealth is also party to interest rate caps and collars that are not designated as hedging instruments. The interest rate caps relate to contracts that First Commonwealth enters into with loan customers that provide a maximum interest rate on their variable rate loan. At the same time the interest rate cap is entered into with the customer, First Commonwealth enters into an offsetting interest rate cap with another financial institution. The notional amount and maximum interest rate on both interest cap contracts are identical. The interest rate collars relate to contracts that First Commonwealth enters into with loan customers that provides both a maximum and minimum interest rate on their variable rate loan. At the same time the interest rate collar is entered into with the customer, First Commonwealth enters into an offsetting interest rate collar with another financial institution. The notional amount and the maximum and minimum interest rates on both interest collar contracts are identical. The fee received, less the estimate of the loss for the credit exposure, was recognized in earnings at the time of the transaction. Derivatives Designated as Hedging Instruments In 2015, the Company entered into an interest rate swap contract that was designated as a cash flow hedge. This contract, which had a notional amount of $65.0 million , matured on March 4, 2019. The periodic net settlement of interest rate swaps was recorded as an adjustment to "Interest and fees on loans" in the Consolidated Statements of Income. For the nine months ended September 30, 2019 there was a $0.1 million negative impact on net interest income as a result of these interest rate swaps. In August 2019, the Company entered into two interest rate swap contracts that are designated as cash flow hedges. These contracts mature on August 15, 2024 and August 15, 2026 and have notional amounts of $30.0 million and $40.0 million , respectively. The Company's risk management objective for these hedges is to reduce its exposure to variability in expected future cash flows related to interest payments made on subordinated debentures benchmarked to the 3-month LIBOR rate. Therefore, the interest rate swaps convert the interest rate benchmark on the first $70.0 million of 3-month LIBOR based subordinated debentures to a fixed rate. The periodic net settlement of these interest rate swaps are recorded as an adjustment to "Interest on subordinated debentures" in the Consolidated Statements of Income. For the three and nine months ended September 30, 2019 there was a $0.1 million positive impact on net interest income as a result of these interest rate swaps. Changes in the fair value of the cash flow hedges are reported on the balance sheet and in OCI. When the cash flows associated with the hedged item are realized, the gain or loss included in OCI is recognized in "Interest on subordinated debentures", the same line item in the Consolidated Statements of Income as the income on the hedged items. The cash flow hedges were highly effective at September 30, 2019, and changes in the fair value attributed to hedge ineffectiveness were not material. The Company also enters into interest rate lock commitments in conjunction with its mortgage origination business. These are commitments to originate loans whereby the interest rate on the loan is determined prior to funding and the customers have locked into that interest rate. The Company locks the rate in with an investor and commits to deliver the loan if settlement occurs (“best efforts”) or commits to deliver the locked loan in a binding (“mandatory”) delivery program with an investor. Loans under mandatory rate lock commitments are covered under forward sales contracts of mortgage-backed securities (“MBS”). Forward sales contracts of MBS are recorded at fair value with changes in fair value recorded in "Other noninterest income" in the Consolidated Statements of Income. The impact to noninterest income for the three and nine months ended September 30, 2019 was an increase of $12 thousand and $0.5 million , respectively. Interest rate lock commitments and commitments to deliver loans to investors are considered derivatives. The market value of interest rate lock commitments and best efforts contracts are not readily ascertainable with precision because they are not actively traded in stand-alone markets. We determine the fair value of rate lock commitments and delivery contracts by measuring the fair value of the underlying asset, which is impacted by current interest rates and taking into consideration the probability that the rate lock commitments will close or will be funded. At September 30, 2019 , the underlying funded mortgage loan commitments had a carrying value of $23.4 million and a fair value of $24.8 million , while the underlying unfunded mortgage loan commitments had a notional amount of $32.7 million . At December 31, 2018 , the underlying funded mortgage loan commitments had a carrying value of $6.9 million and a fair value of $7.6 million , while the underlying unfunded mortgage loan commitments had a notional amount of $9.9 million . The interest rate lock commitments decreased other noninterest income by $0.2 million and $0.1 million for the three and nine months ended September 30, 2019 , respectively. In addition, a small amount of interest income on loans is exposed to changes in foreign exchange rates. Several commercial borrowers have a portion of their operations outside of the United States and borrow funds on a short-term basis to fund those operations. In order to reduce the risk related to the translation of foreign denominated transactions into U.S. dollars, the Company enters into foreign exchange forward contracts. These contracts relate principally to the Euro and the Canadian dollar. The contracts are recorded at fair value with changes in fair value recorded in "Other noninterest expense" in the Consolidated Statements of Income. The increase in other noninterest expense for the nine months ended September 30, 2019 totaled $4 thousand and $3 thousand for the three months ended September 30, 2019 . At September 30, 2019 and December 31, 2018 , the underlying loans had a carrying value of $4.9 million and $1.9 million , respectively, and a fair value of $4.8 million and $1.9 million , respectively. The following table depicts the credit value and fair value adjustments recorded related to the notional amount of derivatives outstanding as well as the notional amount of risk participation agreements participated to other banks: September 30, 2019 December 31, 2018 (dollars in thousands) Derivatives not Designated as Hedging Instruments Credit value adjustment $ (91 ) $ (3 ) Notional amount: Interest rate derivatives 480,872 411,645 Interest rate caps 87,401 36,111 Interest rate collars 35,354 — Risk participation agreements 178,502 162,139 Sold credit protection on risk participation agreements (70,016 ) (59,315 ) Interest rate options 32,720 9,900 Derivatives Designated as Hedging Instruments Interest rate swaps: Fair value adjustment (124 ) (133 ) Notional amount 70,000 65,000 Interest rate forwards: Fair value adjustment (48 ) (170 ) Notional amount 47,000 15,000 Foreign exchange forwards: Fair value adjustment 50 (6 ) Notional amount 4,874 1,927 The table below presents the change in the fair value of derivative assets and derivative liabilities attributable to credit risk or fair value changes included in "Other income," 'Other expense," "Interest on subordinated debentures" or "Interest and fees on loans" in the Consolidated Statements of Income: For the Three Months Ended September 30, For the Nine Months Ended September 30, 2019 2018 2019 2018 (dollars in thousands) Non-hedging interest rate derivatives (Decrease) increase in other income $ (33 ) $ — $ 420 $ 789 Increase (decrease) in other expense — 221 — (432 ) Hedging interest rate derivatives Decrease in interest and fees on loans — (193 ) (118 ) (424 ) Decrease in interest from subordinated debentures (70 ) — (70 ) — Increase in other expense — — 7 10 Hedging interest rate forwards Increase in other income 201 — 122 — Increase in other expense — 125 — 96 Hedging foreign exchange forwards Increase in other expense 3 2 4 10 The fair value of our derivatives is included in a table in Note 12, “Fair Values of Assets and Liabilities,” in the line items “Other assets” and “Other liabilities.” |
Goodwill
Goodwill | 9 Months Ended |
Sep. 30, 2019 | |
Goodwill Disclosure [Abstract] | |
Goodwill | Goodwill FASB ASC Topic 350-20, “Intangibles – Goodwill and Other” requires an annual valuation of the fair value of a reporting unit that has goodwill and a comparison of the fair value to the book value of equity to determine whether the goodwill has been impaired. Goodwill is also required to be tested on an interim basis if an event or circumstance indicates that it is more likely than not that an impairment loss has been incurred. When triggering events or circumstances indicate that goodwill testing is required, an assessment of qualitative factors can be completed before performing the two step goodwill impairment test. ASU No. 2011-8 provides that if an assessment of qualitative factors determines it is more likely than not that the fair value of a reporting unit exceeds its carrying amount, then the two step goodwill impairment test is not required. We consider First Commonwealth to be one reporting unit. The carrying amount of goodwill as of September 30, 2019 and December 31, 2018 was $303.6 million and $274.2 million , respectively. The increase in goodwill during 2019 is the result of the acquisition of 14 branches from Santander, completed in the third quarter of 2019. No impairment charges on goodwill or other intangible assets were incurred in 2019 or 2018 . We test goodwill for impairment as of November 30th each year and again at any quarter-end if any material events occur during a quarter that may affect goodwill. As of September 30, 2019 , goodwill was not considered impaired; however, changing economic conditions that may adversely affect our performance, the fair value of our assets and liabilities, or our stock price could result in impairment, which could adversely affect earnings in future periods. Management will continue to monitor events that could impact this conclusion in the future. |
Subordinated Debentures Subordi
Subordinated Debentures Subordinated Debentures Outstanding | 9 Months Ended |
Sep. 30, 2019 | |
Subordinated Debentures Outstanding [Abstract] | |
Subordinated Borrowings Disclosure [Text Block] | Subordinated Debentures Subordinated debentures outstanding are as follows: September 30, 2019 December 31, 2018 Due Amount Rate Amount Rate (dollars in thousands) Owed to: First Commonwealth Bank 2028 $ 49,198 4.875% until June 1, 2023, then LIBOR + 1.845% $ 49,131 4.875% until June 1, 2023, then LIBOR + 1.845% First Commonwealth Bank 2033 49,044 5.50% until June 1, 2028, then LIBOR + 2.37% 48,990 5.50% until June 1, 2028, then LIBOR + 2.37% First Commonwealth Capital Trust II 2034 30,929 LIBOR + 2.85% 30,929 LIBOR + 2.85% First Commonwealth Capital Trust III 2034 41,238 LIBOR + 2.85% 41,238 LIBOR + 2.85% Total $ 170,409 $ 170,288 On May 21, 2018, First Commonwealth issued ten-year subordinated notes with an aggregate principal amount of $50.0 million and a fixed-to-floating rate of 4.875%. The rate remains fixed until June 1, 2023, then adjusts on a quarterly basis to LIBOR + 1.845%. The Bank may redeem the notes, beginning with the interest payment due on June 1, 2023, in whole or in part at a redemption price equal to 100% of the principal amount of the subordinated notes, plus accrued and unpaid interest to the date of redemption. Deferred issuance costs of $0.9 million are being amortized on a straight-line basis over the term of the notes. On May 21, 2018, First Commonwealth issued fifteen-year subordinated notes with an aggregate principal amount of $50.0 million and a fixed-to-floating rate of 5.50%. The rate remains fixed until June 1, 2028, then adjusts on a quarterly basis to LIBOR + 2.37%. The Bank may redeem the notes, beginning with the interest payment due on June 1, 2028, in whole or in part at a redemption price equal to 100% of the principal amount of the subordinated notes, plus accrued and unpaid interest to the date of redemption. Deferred issuance costs of $1.1 million are being amortized on a straight-line basis over the term of the notes. First Commonwealth currently has two trusts, First Commonwealth Capital Trust II and First Commonwealth Capital Trust III, of which 100% of the common equity is owned by First Commonwealth. The trusts were formed for the purpose of issuing company obligated mandatorily redeemable capital securities to third-party investors and investing the proceeds from the sale of the capital securities solely in junior subordinated debt securities (“subordinated debentures”) of First Commonwealth. The subordinated debentures held by each trust are the sole assets of the trust. Interest on the debentures issued to First Commonwealth Capital Trust III is paid quarterly at a floating rate of LIBOR + 2.85% which is reset quarterly. Subject to regulatory approval, First Commonwealth may redeem the debentures, in whole or in part, at its option on any interest payment date at a redemption price equal to 100% of the principal amount of the debentures, plus accrued and unpaid interest to the date of the redemption. Deferred issuance costs of $0.6 million are being amortized on a straight-line basis over the term of the securities. Interest on the debentures issued to First Commonwealth Capital Trust II is paid quarterly at a floating rate of LIBOR + 2.85%, which is reset quarterly. Subject to regulatory approval, First Commonwealth may redeem the debentures, in whole or in part, at its option at a redemption price equal to 100% of the principal amount of the debentures, plus accrued and unpaid interest to the date of the redemption. Deferred issuance costs of $0.5 million are being amortized on a straight-line basis over the term of the securities. |
New Accounting Pronouncements (
New Accounting Pronouncements (Notes) | 9 Months Ended |
Sep. 30, 2019 | |
Accounting Changes and Error Corrections [Abstract] | |
New Accounting Pronouncements | New Accounting Pronouncements In June 2016, the FASB issued ASU No. 2016-13, “Financial Instruments – Credit Losses (Topic 326), Measurement of Credit Losses on Financial Instruments,” which amends the guidance for recognizing credit losses from an “incurred loss” methodology that delays recognition of credit losses until it is probable a loss has been incurred to an expected credit loss methodology. The Current Expected Credit Loss ("CECL") methodology requires the use of the modified retrospective transition method by means of a cumulative-effect adjustment to equity as of the beginning of the period in which the guidance is adopted. The standard is effective for the Company as of January 1, 2020. We have established a CECL implementation team, which includes members from the finance and credit areas, with oversight by the Chief Executive Officer, Chief Financial Officer and Chief Credit Officer. Management completed the engagement of a 3 rd party service provider to assist with this ASU during the third quarter of 2018. In the fourth quarter of 2018, a 3 rd party was engaged to assist with evaluation of data and methodologies related to this standard. To date, management has completed methodologies, assumptions, inputs and processes related to the CECL model. During the fourth quarter of 2019, we will have our model validated by a 3 rd party, perform a full parallel run, and continue to refine the methodology, processes and internal controls. The impact of adopting this ASU cannot be reasonably estimated until model validation and development of qualitative components are complete. The Company anticipates that an increase to the allowance for credit losses will be recognized upon adoption. The estimated impact at adoption will depend on the composition, characteristics and quality of the loan portfolio as well as the economic environment and forecasts as of the adoption date. In January 2017, the FASB issued ASU No. 2017-04, "Intangibles-Goodwill and Other (Topic 350), Simplifying the Test for Goodwill Impairment" which simplifies the subsequent measurement of goodwill by eliminating Step 2 from the goodwill impairment test. Under this ASU, an entity should perform its annual, or interim, goodwill impairment test by comparing the fair value of a reporting unit with its carrying amount. Impairment 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 the reporting unit. Income tax effects from any tax deductible goodwill should be taken into consideration of the carrying amount of the reporting unit when measuring for goodwill impairment, if applicable. An entity still has the option to perform the qualitative assessment for the reporting unit to determine if the quantitative impairment test is necessary. This standard is effective for interim and annual periods for fiscal years beginning after December 15, 2019. The adoption of this ASU is not expected to have a material impact on First Commonwealth’s financial condition or results of operations. |
Acquisition Schedule of Buisnes
Acquisition Schedule of Buisness Acquisitions by Acquisition | 9 Months Ended |
Sep. 30, 2019 | |
Business Combinations [Abstract] | |
Schedule of Business Acquisitions, by Acquisition [Table Text Block] | The table below summarizes the final purchase price allocation and the net assets acquired (at fair value) and consideration transferred in connection with the Garfield acquisition (dollars in thousands): Consideration Paid Cash paid to shareholders $ 17,400 Shares issued to shareholders (2,745,098 shares) 41,561 Total consideration paid $ 58,961 Fair Value of Assets Acquired Cash and cash equivalents 18,105 FHLB Stock 3,261 Loans 184,506 Premises and other equipment 409 Intangible assets 1,248 Other assets 1,747 Total assets acquired 209,276 Fair Value of Liabilities Assumed Deposits 141,281 FHLB borrowings 22,988 Other liabilities 5,068 Total liabilities assumed 169,337 Total Fair Value of Identifiable Net Assets 39,939 Goodwill $ 19,022 The table below summarizes the net assets acquired (at fair value) and consideration transferred in connection with the Santander acquisition (dollars in thousands): Consideration received Cash received $ 329,530 Total consideration received $ 329,530 Fair Value of Assets Acquired Cash and cash equivalents 2,935 Loans 100,025 Premises and other equipment 3,637 Core deposit intangible 5,277 Other assets 736 Total assets acquired 112,610 Fair Value of Liabilities Assumed Deposits 471,383 Other Liabilities 187 Total liabilities assumed 471,570 Total Fair Value of Identifiable Net Assets (358,960 ) Goodwill $ 29,430 |
Supplemental Comprehensive In_2
Supplemental Comprehensive Income Disclosures (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Supplemental Comprehensive Income Disclosures [Abstract] | |
Supplemental Comprehensive Income Disclosures | The following table identifies the related tax effects allocated to each component of other comprehensive income (“OCI”) in the Consolidated Statements of Comprehensive Income. Reclassification adjustments related to securities available for sale are included in the "Net securities gains" line and reclassification adjustments related to losses on derivatives are included in the "Other operating" line in the Consolidated Statements of Income. For the Nine Months Ended September 30, 2019 2018 Pretax Amount Tax (Expense) Benefit Net of Tax Amount Pretax Amount Tax (Expense) Benefit Net of Tax Amount (dollars in thousands) Unrealized gains (losses) on securities: Unrealized holding gains (losses) on securities arising during the period $ 22,055 $ (4,632 ) $ 17,423 $ (8,704 ) $ 1,828 $ (6,876 ) Reclassification adjustment for gains on securities included in net income (15 ) 3 (12 ) (8,102 ) 1,701 (6,401 ) Total unrealized gains (losses) on securities 22,040 (4,629 ) 17,411 (16,806 ) 3,529 (13,277 ) Unrealized gains on derivatives: Unrealized holding gains on derivatives arising during the period 9 (2 ) 7 165 (35 ) 130 Reclassification adjustment for losses on derivatives included in net income — — — 10 (3 ) 7 Total unrealized gains on derivatives 9 (2 ) 7 175 (38 ) 137 Total other comprehensive income (loss) $ 22,049 $ (4,631 ) $ 17,418 $ (16,631 ) $ 3,491 $ (13,140 ) For the Three Months Ended September 30, 2019 2018 Pretax Amount Tax (Expense) Benefit Net of Tax Amount Pretax Amount Tax (Expense) Benefit Net of Tax Amount (dollars in thousands) Unrealized gains (losses) on securities: Unrealized holding gains (losses) on securities arising during the period $ 3,152 $ (663 ) $ 2,489 $ (5,382 ) $ 1,130 $ (4,252 ) Reclassification adjustment for gains on securities included in net income (9 ) 2 (7 ) — — — Total unrealized gains (losses) on securities 3,143 (661 ) 2,482 (5,382 ) 1,130 (4,252 ) Unrealized (losses) gains on derivatives: Unrealized holding (losses) gains on derivatives arising during the period (124 ) 26 (98 ) 198 (42 ) 156 Reclassification adjustment for losses on derivatives included in net income — — — — — — Total unrealized (losses) gains on derivatives (124 ) 26 (98 ) 198 (42 ) 156 Total other comprehensive income (loss) $ 3,019 $ (635 ) $ 2,384 $ (5,184 ) $ 1,088 $ (4,096 ) |
Schedule of Accumulated Other Comprehensive Income (Loss) | The following table details the change in components of OCI for the nine months ended September 30 : 2019 2018 Securities Available for Sale Post-Retirement Obligation Derivatives Accumulated Other Comprehensive Income (Loss) Securities Available for Sale Post-Retirement Obligation Derivatives Accumulated Other Comprehensive Income (Loss) (dollars in thousands) Balance at December 31 $ (11,697 ) $ 461 $ (105 ) $ (11,341 ) $ (6,166 ) $ 299 $ (306 ) $ (6,173 ) Cumulative effect of adoption of ASU 2018-02 — — — — (1,344 ) — — (1,344 ) Balance at January 1 (11,697 ) 461 (105 ) (11,341 ) (7,510 ) 299 (306 ) (7,517 ) Other comprehensive income (loss) before reclassification adjustment 17,423 — 7 17,430 (6,876 ) — 130 (6,746 ) Amounts reclassified from accumulated other comprehensive (loss) income (12 ) — — (12 ) (6,401 ) — 7 (6,394 ) Net other comprehensive income (loss) during the period 17,411 — 7 17,418 (13,277 ) — 137 (13,140 ) Balance at September 30 $ 5,714 $ 461 $ (98 ) $ 6,077 $ (20,787 ) $ 299 $ (169 ) $ (20,657 ) |
Supplemental Cash Flow Disclo_2
Supplemental Cash Flow Disclosures (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Supplemental Cash Flow Information [Abstract] | |
Schedule of Supplemental Cash Flow Disclosures | The following table presents information related to cash paid during the period for interest and income taxes, as well as detail on non-cash investing and financing activities for the nine months ended September 30 : 2019 2018 (dollars in thousands) Cash paid during the period for: Interest $ 42,195 $ 25,780 Income taxes 16,994 18,750 Non-cash investing and financing activities: Loans transferred to other real estate owned and repossessed assets 2,754 3,346 Loans transferred from held to maturity to held for sale 21,620 29,765 Gross increase (decrease) in market value adjustment to securities available for sale 22,041 (16,806 ) Gross increase in market value adjustment to derivatives 9 175 Noncash treasury stock reissuance 2,531 2,257 Net (liabilities) assets acquired through acquisition (361,895 ) 21,834 Proceeds from death benefit on bank-owned life insurance not received 486 — |
Earnings per Share (Tables)
Earnings per Share (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Earnings Per Share [Abstract] | |
Composition of Weighted-Average Common Shares (Denominator) Used in Basic and Diluted Earnings Per Share | The following table summarizes the composition of the weighted-average common shares (denominator) used in the basic and diluted earnings per share computations: For the Three Months Ended September 30, For the Nine Months Ended September 30, 2019 2018 2019 2018 Weighted average common shares issued 113,914,902 113,914,902 113,914,902 113,914,902 Average treasury stock shares (15,496,941 ) (13,550,710 ) (15,396,215 ) (14,783,078 ) Average deferred compensation shares (37,411 ) (37,411 ) (37,411 ) (37,411 ) Average unearned nonvested shares (113,321 ) (100,134 ) (117,737 ) (95,916 ) Weighted average common shares and common stock equivalents used to calculate basic earnings per share 98,267,229 100,226,647 98,363,539 98,998,497 Additional common stock equivalents (nonvested stock) used to calculate diluted earnings per share 243,258 226,754 214,837 161,660 Additional common stock equivalents (deferred compensation) used to calculate diluted earnings per share 37,411 37,411 37,411 37,411 Weighted average common shares and common stock equivalents used to calculate diluted earnings per share 98,547,898 100,490,812 98,615,787 99,197,568 Basic Earnings per Share $ 0.27 $ 0.25 $ 0.80 $ 0.81 Diluted Earnings per Share $ 0.27 $ 0.25 $ 0.80 $ 0.81 |
Common Stock Equivalents Not Included in Computation of Diluted Earnings Per Share | The following table shows the number of shares and the price per share related to common stock equivalents that were not included in the computation of diluted earnings per share for the nine months ended September 30 because to do so would have been antidilutive. 2019 2018 Price Range Price Range Shares From To Shares From To Restricted Stock 95,054 $ 12.99 $ 15.44 66,332 $ 8.84 $ 14.49 Restricted Stock Units 24,782 $ 16.62 $ 16.62 — $ — $ — |
Commitments and Contingent Li_2
Commitments and Contingent Liabilities (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Commitments and Contingencies Disclosure [Abstract] | |
Notional Amount of Outstanding Commitments | The following table identifies the notional amount of those instruments at: September 30, 2019 December 31, 2018 (dollars in thousands) Financial instruments whose contract amounts represent credit risk: Commitments to extend credit $ 1,990,464 $ 1,883,914 Financial standby letters of credit 18,289 18,298 Performance standby letters of credit 25,249 22,027 Commercial letters of credit 783 887 |
Investment Securities (Tables)
Investment Securities (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Schedule of Held-to-maturity Securities [Line Items] | |
Analysis of Amortized Cost and Estimated Fair Value of Securities Available for Sale | Below is an analysis of the amortized cost and estimated fair values of securities available for sale at: September 30, 2019 December 31, 2018 Amortized Gross Gross Estimated Amortized Gross Gross Estimated (dollars in thousands) Obligations of U.S. Government Agencies: Mortgage-Backed Securities – Residential $ 8,112 $ 655 $ — $ 8,767 $ 9,011 $ 479 $ (84 ) $ 9,406 Mortgage-Backed Securities – Commercial 168,006 3,585 — 171,591 169,633 214 (2,103 ) 167,744 Obligations of U.S. Government-Sponsored Enterprises: Mortgage-Backed Securities – Residential 583,158 4,260 (2,594 ) 584,824 686,906 1,846 (15,391 ) 673,361 Other Government-Sponsored Enterprises 1,000 — (2 ) 998 10,000 12 — 10,012 Obligations of States and Political Subdivisions 21,959 209 — 22,168 27,592 126 (6 ) 27,712 Corporate Securities 22,914 1,121 — 24,035 20,912 321 (221 ) 21,012 Total Securities Available for Sale $ 805,149 $ 9,830 $ (2,596 ) $ 812,383 $ 924,054 $ 2,998 $ (17,805 ) $ 909,247 |
Amortized Cost and Estimated Fair Value of Debt Securities Available for Sale | The amortized cost and estimated fair value of debt securities available for sale at September 30, 2019 , by contractual maturity, are shown below. Amortized Estimated (dollars in thousands) Due within 1 year $ 1,527 $ 1,531 Due after 1 but within 5 years 36,106 36,779 Due after 5 but within 10 years 8,240 8,891 Due after 10 years — — 45,873 47,201 Mortgage-Backed Securities (a) 759,276 765,182 Total Debt Securities $ 805,149 $ 812,383 (a) Mortgage-backed and collateralized mortgage securities, which have prepayment provisions, are not assigned to maturity categories due to fluctuations in their prepayment speeds. Mortgage-Backed Securities include an amortized cost of $176.1 million and a fair value of $180.4 million for Obligations of U.S. Government agencies issued by Ginnie Mae and an amortized cost of $583.2 million and a fair value of $584.8 million |
Proceeds from Sale, Gross Gains (Losses) Realized on Sales, Maturities and Other-Than-Temporary Impairment Charges Related to Securities Available for Sale | Proceeds from sales, gross gains (losses) realized on sales, maturities and other-than-temporary impairment charges related to securities available for sale were as follows for the nine months ended September 30 : 2019 2018 (dollars in thousands) Proceeds from sales $ — $ 15,939 Gross gains (losses) realized: Sales transactions: Gross gains $ — $ 4,719 Gross losses — — — 4,719 Maturities Gross gains 15 3,383 Gross losses — — 15 3,383 Net gains and impairment $ 15 $ 8,102 |
Investment Securities Maturity
Investment Securities Maturity of Held-to-Maturity Securities (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Schedule of Held-to-maturity Securities [Line Items] | |
Debt Securities, Held-to-maturity [Table Text Block] | Below is an analysis of the amortized cost and fair values of debt securities held to maturity at: September 30, 2019 December 31, 2018 Amortized Gross Gross Estimated Amortized Gross Gross Estimated (dollars in thousands) Obligations of U.S. Government Agencies: Mortgage-Backed Securities – Residential $ 3,549 $ 57 $ — $ 3,606 $ 3,635 $ — $ (97 ) $ 3,538 Mortgage-Backed Securities- Commercial 54,244 173 (106 ) 54,311 55,221 — (2,327 ) 52,894 Obligations of U.S. Government-Sponsored Enterprises: Mortgage-Backed Securities – Residential 245,238 1,762 (297 ) 246,703 279,109 212 (7,254 ) 272,067 Mortgage-Backed Securities – Commercial 12,361 123 — 12,484 13,159 — (258 ) 12,901 Obligations of States and Political Subdivisions 41,898 626 — 42,524 42,331 175 (313 ) 42,193 Debt Securities Issued by Foreign Governments 600 — (4 ) 596 400 — — 400 Total Securities Held to Maturity $ 357,890 $ 2,741 $ (407 ) $ 360,224 $ 393,855 $ 387 $ (10,249 ) $ 383,993 |
Schedule of Held-to-Maturity Securities by Maturity [Table Text Block] | The amortized cost and estimated fair value of debt securities held to maturity at September 30, 2019 , by contractual maturity, are shown below. Expected maturities will differ from contractual maturities because borrowers may have the right to call or repay obligations with or without call or prepayment penalties. Amortized Estimated (dollars in thousands) Due within 1 year $ 512 $ 512 Due after 1 but within 5 years 8,084 8,144 Due after 5 but within 10 years 33,902 34,464 Due after 10 years — — 42,498 43,120 Mortgage-Backed Securities (a) 315,392 317,104 Total Debt Securities $ 357,890 $ 360,224 (a) Mortgage-backed and collateralized mortgage securities, which have prepayment provisions, are not assigned to maturity categories due to fluctuations in their prepayment speeds. Mortgage-Backed Securities include an amortized cost of $57.8 million and a fair value of $57.9 million for Obligations of U.S. Government agencies issued by Ginnie Mae and an amortized cost of $257.6 million and a fair value of $259.2 million for Obligations of U.S. Government-sponsored enterprises issued by Fannie Mae and Freddie Mac. |
Impairment of Investment Secu_2
Impairment of Investment Securities (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Impairment of Investment Securities Disclosure [Abstract] | |
Schedule of Unrealized Losses and Estimated Fair Values | The following table presents the gross unrealized losses and estimated fair values at September 30, 2019 for both available for sale and held to maturity securities by investment category and time frame for which securities have been in a continuous unrealized loss position: Less Than 12 Months 12 Months or More Total Estimated Gross Estimated Gross Estimated Gross (dollars in thousands) Obligations of U.S. Government Agencies: Mortgage-Backed Securities – Commercial $ — $ — $ 18,120 $ (106 ) $ 18,120 $ (106 ) Obligations of U.S. Government-Sponsored Enterprises: Mortgage-Backed Securities – Residential 115,615 (342 ) 239,861 (2,549 ) 355,476 (2,891 ) Other Government-Sponsored Enterprises 998 (2 ) — — 998 (2 ) Debt Securities Issued by Foreign Governments 596 (4 ) — — 596 (4 ) Total Securities $ 117,209 $ (348 ) $ 257,981 $ (2,655 ) $ 375,190 $ (3,003 ) The following table presents the gross unrealized losses and estimated fair values at December 31, 2018 by investment category and time frame for which securities have been in a continuous unrealized loss position: Less Than 12 Months 12 Months or More Total Estimated Gross Estimated Gross Estimated Gross (dollars in thousands) Obligations of U.S. Government Agencies: Mortgage-Backed Securities – Residential $ 2,289 $ (41 ) $ 5,028 $ (140 ) $ 7,317 $ (181 ) Mortgage-Backed Securities - Commercial 95,826 (925 ) 75,959 (3,505 ) 171,785 (4,430 ) Obligations of U.S. Government-Sponsored Enterprises: Mortgage-Backed Securities – Residential 156,732 (1,856 ) 626,003 (20,789 ) 782,735 (22,645 ) Mortgage-Backed Securities – Commercial — — 12,901 (258 ) 12,901 (258 ) Obligation of States and Political Subdivisions 8,591 (85 ) 9,338 (234 ) 17,929 (319 ) Corporate Securities 14,769 (214 ) 3,993 (7 ) 18,762 (221 ) Total Securities $ 278,207 $ (3,121 ) $ 733,222 $ (24,933 ) $ 1,011,429 $ (28,054 ) |
Cumulative Roll Forward of Credit Losses Recognized in Earnings for Debt Securities held and not Intended to be Sold | The following table provides a cumulative roll forward of credit losses recognized in earnings for the trust preferred securities: For the Three Months Ended September 30, For the Nine Months Ended September 30, 2019 2018 2019 2018 (dollars in thousands) Balance, beginning (a) $ — $ — $ — $ 12,208 Credit losses on debt securities for which other-than-temporary impairment was not previously recognized — — — — Additional credit losses on debt securities for which other-than-temporary impairment was previously recognized — — — — Increases in cash flows expected to be collected, recognized over the remaining life of the security (b) — — — (223 ) Reduction for debt securities sold during the period — — — (9,164 ) Reduction for debt securities called during the period — — — (2,821 ) Balance, ending $ — $ — $ — $ — (a) The beginning balance represents credit related losses included in other-than-temporary impairment charges recognized on debt securities in prior periods. (b) Represents the increase in cash flows recognized in interest income during the period. |
Loans and Allowance for Credi_2
Loans and Allowance for Credit Losses (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Loans and Leases Receivable Disclosure [Abstract] | |
Outstanding Balances of Loan | The following table provides outstanding balances related to each of our loan types: September 30, 2019 December 31, 2018 Originated Acquired Total Originated Acquired Total (dollars in thousands) Commercial, financial, agricultural and other $ 1,173,070 $ 37,866 $ 1,210,936 $ 1,100,947 $ 37,526 $ 1,138,473 Real estate construction 413,562 6,719 420,281 353,008 5,970 358,978 Residential real estate 1,380,486 285,734 1,666,220 1,313,645 248,760 1,562,405 Commercial real estate 1,947,533 176,707 2,124,240 1,922,349 201,195 2,123,544 Loans to individuals 662,838 15,046 677,884 585,347 5,392 590,739 Total loans $ 5,577,489 $ 522,072 $ 6,099,561 $ 5,275,296 $ 498,843 $ 5,774,139 |
Credit Risk Profile by Creditworthiness | The following tables represent our credit risk profile by creditworthiness: September 30, 2019 Commercial, financial, agricultural and other Real estate construction Residential real estate Commercial real estate Loans to individuals Total (dollars in thousands) Originated loans Pass $ 1,115,341 $ 413,535 $ 1,371,231 $ 1,902,969 $ 662,535 $ 5,465,611 Non-Pass OAEM 49,258 27 487 22,709 — 72,481 Substandard 8,471 — 8,768 21,855 303 39,397 Doubtful — — — — — — Total Non-Pass 57,729 27 9,255 44,564 303 111,878 Total $ 1,173,070 $ 413,562 $ 1,380,486 $ 1,947,533 $ 662,838 $ 5,577,489 Acquired loans Pass $ 30,986 $ 6,134 $ 283,171 $ 169,935 $ 15,033 $ 505,259 Non-Pass OAEM 2,143 585 637 2,126 — 5,491 Substandard 4,737 — 1,926 4,646 13 11,322 Doubtful — — — — — — Total Non-Pass 6,880 585 2,563 6,772 13 16,813 Total $ 37,866 $ 6,719 $ 285,734 $ 176,707 $ 15,046 $ 522,072 December 31, 2018 Commercial, financial, agricultural and other Real estate construction Residential real estate Commercial real estate Loans to individuals Total (dollars in thousands) Originated loans Pass $ 1,055,394 $ 337,367 $ 1,302,912 $ 1,880,139 $ 585,141 $ 5,160,953 Non-Pass OAEM 33,723 15,641 1,026 28,904 — 79,294 Substandard 11,830 — 9,707 13,306 206 35,049 Doubtful — — — — — — Total Non-Pass 45,553 15,641 10,733 42,210 206 114,343 Total $ 1,100,947 $ 353,008 $ 1,313,645 $ 1,922,349 $ 585,347 $ 5,275,296 Acquired loans Pass $ 31,399 $ 5,337 $ 245,637 $ 198,201 $ 5,377 $ 485,951 Non-Pass OAEM 5,890 633 736 441 — 7,700 Substandard 237 — 2,387 2,553 15 5,192 Doubtful — — — — — — Total Non-Pass 6,127 633 3,123 2,994 15 12,892 Total $ 37,526 $ 5,970 $ 248,760 $ 201,195 $ 5,392 $ 498,843 |
Age Analysis of Past Due Loans by Segment | The following tables delineate the aging analysis of the recorded investments in past due loans as of September 30, 2019 and December 31, 2018 . Also included in these tables are loans that are 90 days or more past due and still accruing because they are well-secured and in the process of collection. September 30, 2019 30 - 59 60 - 89 90 days Nonaccrual Total past Current Total (dollars in thousands) Originated loans Commercial, financial, agricultural and other $ 165 $ 345 $ 26 $ 4,808 $ 5,344 $ 1,167,726 $ 1,173,070 Real estate construction — — — — — 413,562 413,562 Residential real estate 4,756 1,438 935 6,465 13,594 1,366,892 1,380,486 Commercial real estate 671 406 103 7,590 8,770 1,938,763 1,947,533 Loans to individuals 3,090 775 845 302 5,012 657,826 662,838 Total $ 8,682 $ 2,964 $ 1,909 $ 19,165 $ 32,720 $ 5,544,769 $ 5,577,489 Acquired loans Commercial, financial, agricultural and other $ 10 $ — $ 4 $ 4,693 $ 4,707 $ 33,159 $ 37,866 Real estate construction — — — — — 6,719 6,719 Residential real estate 394 101 119 1,818 2,432 283,302 285,734 Commercial real estate — — — 1,612 1,612 175,095 176,707 Loans to individuals 220 16 22 13 271 14,775 15,046 Total $ 624 $ 117 $ 145 $ 8,136 $ 9,022 $ 513,050 $ 522,072 December 31, 2018 30 - 59 60 - 89 90 days Nonaccrual Total past Current Total (dollars in thousands) Originated loans Commercial, financial, agricultural and other $ 130 $ 247 $ 92 $ 10,223 $ 10,692 $ 1,090,255 $ 1,100,947 Real estate construction 212 — — — 212 352,796 353,008 Residential real estate 3,697 710 790 6,238 11,435 1,302,210 1,313,645 Commercial real estate 492 69 — 3,437 3,998 1,918,351 1,922,349 Loans to individuals 2,362 532 662 207 3,763 581,584 585,347 Total $ 6,893 $ 1,558 $ 1,544 $ 20,105 $ 30,100 $ 5,245,196 $ 5,275,296 Acquired loans Commercial, financial, agricultural and other $ 1 $ — $ — $ 204 $ 205 $ 37,321 $ 37,526 Real estate construction — — — — — 5,970 5,970 Residential real estate 226 24 27 1,904 2,181 246,579 248,760 Commercial real estate — — — 1,042 1,042 200,153 201,195 Loans to individuals 46 12 11 15 84 5,308 5,392 Total $ 273 $ 36 $ 38 $ 3,165 $ 3,512 $ 495,331 $ 498,843 |
Recorded Investment and Unpaid Principal Balance for Impaired Loans with Associated Allowance | The following tables include the recorded investment and unpaid principal balance for impaired loans with the associated allowance amount, if applicable, as of September 30, 2019 and December 31, 2018 . Also presented are the average recorded investment in impaired loans and the related amount of interest recognized while the loan was considered impaired. Average balances are calculated using month-end balances of the loans for the period reported and are included in the table below based on their period-end allowance position. September 30, 2019 December 31, 2018 Recorded Unpaid Related Recorded Unpaid Related (dollars in thousands) Originated loans: With no related allowance recorded: Commercial, financial, agricultural and other $ 1,638 $ 7,014 $ 8,735 $ 16,442 Real estate construction — — — — Residential real estate 9,760 11,516 10,726 12,571 Commercial real estate 3,274 3,502 3,599 3,812 Loans to individuals 392 593 281 408 Subtotal 15,064 22,625 23,341 33,233 With an allowance recorded: Commercial, financial, agricultural and other 4,644 6,386 $ 1,054 3,042 3,181 $ 797 Real estate construction — — — — — — Residential real estate 920 976 4 486 495 107 Commercial real estate 6,408 6,543 469 1,866 1,878 596 Loans to individuals — — — — — — Subtotal 11,972 13,905 1,527 5,394 5,554 1,500 Total $ 27,036 $ 36,530 $ 1,527 $ 28,735 $ 38,787 $ 1,500 September 30, 2019 December 31, 2018 Recorded Unpaid Related Recorded Unpaid Related (dollars in thousands) Acquired loans With no related allowance recorded: Commercial, financial, agricultural and other $ 4,693 $ 4,717 $ 73 $ 73 Real estate construction — — — — Residential real estate 1,971 2,413 2,031 2,604 Commercial real estate 1,459 2,843 1,042 2,052 Loans to individuals 13 15 15 17 Subtotal 8,136 9,988 3,161 4,746 With an allowance recorded: Commercial, financial, agricultural and other — — $ — 131 131 $ 131 Real estate construction — — — — — — Residential real estate — — — — — — Commercial real estate 153 165 19 — — — Loans to individuals — — — — — — Subtotal 153 165 19 131 131 131 Total $ 8,289 $ 10,153 $ 19 $ 3,292 $ 4,877 $ 131 For the Nine Months Ended September 30, 2019 2018 Originated Loans Acquired Loans Originated Loans Acquired Loans Average Interest Average Interest Average Interest Average Interest (dollars in thousands) With no related allowance recorded: Commercial, financial, agricultural and other $ 2,129 $ 10 $ 2,255 $ — $ 17,838 $ 576 $ 261 $ 10 Real estate construction — — — — — — — — Residential real estate 10,751 280 1,966 6 10,639 191 1,779 3 Commercial real estate 3,854 129 636 18 7,632 146 1,558 — Loans to individuals 356 11 14 — 322 6 16 — Subtotal 17,090 430 4,871 24 36,431 919 3,614 13 With an allowance recorded: Commercial, financial, agricultural and other 4,064 36 — — 5,979 16 — — Real estate construction — — — — — — — — Residential real estate 347 6 — — 532 11 — Commercial real estate 5,357 2 160 — 1,787 3 — — Loans to individuals — — — — — — — — Subtotal 9,768 44 160 — 8,298 30 — — Total $ 26,858 $ 474 $ 5,031 $ 24 $ 44,729 $ 949 $ 3,614 $ 13 For the Three Months Ended September 30, 2019 2018 Originated Loans Acquired Loans Originated Loans Acquired Loans Average Interest Average Interest Average Interest Average Interest (dollars in thousands) With no related allowance recorded: Commercial, financial, agricultural and other $ 1,902 $ 3 $ 4,697 $ — $ 5,697 $ 8 $ 73 $ 10 Real estate construction — — — — — — — — Residential real estate 10,254 86 1,950 1 10,627 59 2,541 2 Commercial real estate 3,582 28 666 — 6,810 59 1,955 — Loans to individuals 389 4 13 — 320 2 16 — Subtotal 16,127 121 7,326 1 23,454 128 4,585 12 With an allowance recorded: Commercial, financial, agricultural and other 4,677 8 — — 10,298 4 — — Real estate construction — — — — — — — — Residential real estate 740 1 — — 565 2 — — Commercial real estate 6,443 1 155 — 4,342 1 — — Loans to individuals — — — — — — — — Subtotal 11,860 10 155 — 15,205 7 — — Total $ 27,987 $ 131 $ 7,481 $ 1 $ 38,659 $ 135 $ 4,585 $ 12 |
Troubled Debt Restructured Loans and Commitments | The following table provides detail as to the total troubled debt restructured loans and total commitments outstanding on troubled debt restructured loans: September 30, 2019 December 31, 2018 (dollars in thousands) Troubled debt restructured loans Accrual status $ 8,024 $ 8,757 Nonaccrual status 11,074 11,761 Total $ 19,098 $ 20,518 Commitments Letters of credit $ 60 $ 60 Unused lines of credit 131 1,027 Total $ 191 $ 1,087 The following tables provide detail, including specific reserves and reasons for modification, related to loans identified as troubled debt restructurings: For the Nine Months Ended September 30, 2019 Type of Modification Number Extend Modify Modify Total Post- Specific (dollars in thousands) Commercial, financial, agricultural and other 2 $ — $ — $ 156 $ 156 $ 157 $ — Residential real estate 14 17 149 842 1,008 933 1 Commercial real estate 3 — — 6,119 6,119 5,740 397 Loans to individuals 7 — — 98 98 87 — Total 26 $ 17 $ 149 $ 7,215 $ 7,381 $ 6,917 $ 398 For the Nine Months Ended September 30, 2018 Type of Modification Number Extend Modify Modify Total Post- Specific (dollars in thousands) Commercial, financial, agricultural and other 3 $ 74 $ — $ 8,250 $ 8,324 $ 7,393 $ 2,811 Residential real estate 24 85 145 959 1,189 1,108 — Commercial real estate 2 — — 966 966 943 — Loans to individuals 13 — 77 44 121 103 — Total 42 $ 159 $ 222 $ 10,219 $ 10,600 $ 9,547 $ 2,811 The troubled debt restructurings included in the above tables are also included in the impaired loan tables provided earlier in this note. Loans defined as modified due to a change in rate may include loans that were modified for a change in rate as well as a re-amortization of the principal and an extension of the maturity. For both the nine months ended September 30, 2019 and 2018 , $0.1 million and $0.2 million , respectively, of total rate modifications represent loans with modifications to the rate as well as payment as a result of re-amortization. For both 2019 and 2018 the changes in loan balances between the pre-modification balance and the post-modification balance are due to customer payments. The following tables provide detail, including specific reserves and reasons for modification, related to loans identified as troubled debt restructurings: For the Three Months Ended September 30, 2019 Type of Modification Number Extend Modify Modify Total Post- Specific (dollars in thousands) Commercial, financial, agricultural and other 1 $ — $ — $ 95 $ 95 $ 96 $ — Residential real estate 3 — 32 53 85 85 — Loans to individuals 2 — — 37 37 34 — Total 6 $ — $ 32 $ 185 $ 217 $ 215 $ — For the Three Months Ended, September 30, 2018 Type of Modification Number Extend Modify Modify Total Post- Specific (dollars in thousands) Commercial, financial, agricultural and other 1 $ 74 $ — $ — $ 74 $ 74 $ — Residential real estate 7 65 70 230 365 338 — Loans to individuals 6 — 26 17 43 40 — Total 14 $ 139 $ 96 $ 247 $ 482 $ 452 $ — The troubled debt restructurings included in the above tables are also included in the impaired loan tables provided earlier in this note. Loans defined as modified due to a change in rate may include loans that were modified for a change in rate as well as a re-amortization of the principal and an extension of the maturity. For the three months ended September 30, 2019 and 2018 , $32 thousand and $96 thousand , respectively, of total rate modifications represent loans with modifications to the rate as well as payment as a result of re-amortization. For both 2019 and 2018 the changes in loan balances between the pre-modification balance and the post-modification balance are due to customer payments. |
Troubled Debt Restructuring Subsequent Default [Table Text Block] | A troubled debt restructuring is considered to be in default when a restructured loan is 90 days or more past due. The following table provides information related to loans that were restructured within the past twelve months and that were considered to be in default during the nine months ended September 30 : 2019 2018 Number of Recorded Number of Recorded (dollars in thousands) Commercial, financial, agricultural and other — $ — 1 $ 272 Residential real estate 3 70 1 49 Loans to individuals — — 1 8 Total 3 $ 70 3 $ 329 The following table provides information related to loans that were restructured within the past twelve months and that were considered to be in default during the three months ended September 30 : 2019 2018 Number of Recorded Number of Recorded (dollars in thousands) Residential real estate 2 $ 49 1 $ 49 Loans to individuals — $ — 1 $ 8 Total 2 $ 49 2 $ 57 |
Allowance for Credit Losses | he following tables provide detail related to the allowance for credit losses: For the Nine Months Ended September 30, 2019 Commercial, Real estate Residential Commercial Loans to Total (dollars in thousands) Allowance for credit losses: Originated loans: Beginning balance $ 19,235 $ 2,002 $ 3,934 $ 18,382 $ 4,033 $ 47,586 Charge-offs (1,584 ) — (617 ) (305 ) (4,049 ) (6,555 ) Recoveries 180 158 190 160 419 1,107 Provision (credit) 2,109 250 409 790 4,310 7,868 Ending balance 19,940 2,410 3,916 19,027 4,713 50,006 Acquired loans: Beginning balance 139 — 35 4 — 178 Charge-offs (601 ) — (46 ) (1,376 ) (9 ) (2,032 ) Recoveries 53 — 46 — 14 113 Provision (credit) 416 — (34 ) 1,393 (5 ) 1,770 Ending balance 7 — 1 21 — 29 Total ending balance $ 19,947 $ 2,410 $ 3,917 $ 19,048 $ 4,713 $ 50,035 Ending balance: individually evaluated for impairment $ 1,054 $ — $ 4 $ 488 $ — $ 1,546 Ending balance: collectively evaluated for impairment 18,893 2,410 3,913 18,560 4,713 48,489 Loans: Ending balance 1,210,936 420,281 1,666,220 2,124,240 677,884 6,099,561 Ending balance: individually evaluated for impairment 10,417 — 4,102 10,825 — 25,344 Ending balance: collectively evaluated for impairment 1,200,519 420,281 1,662,118 2,113,415 677,884 6,074,217 For the Nine Months Ended September 30, 2018 Commercial, Real estate Residential Commercial Loans to Total (dollars in thousands) Allowance for credit losses: Originated loans: Beginning balance $ 23,418 $ 1,349 $ 2,753 $ 17,328 $ 3,404 $ 48,252 Charge-offs (3,443 ) — (949 ) (2,411 ) (3,321 ) (10,124 ) Recoveries 671 93 222 123 460 1,569 Provision (credit) 1,343 150 1,584 4,623 3,274 10,974 Ending balance 21,989 1,592 3,610 19,663 3,817 50,671 Acquired loans: Beginning balance 11 — 6 29 — 46 Charge-offs (93 ) — (57 ) — (15 ) (165 ) Recoveries 31 6 75 — 24 136 Provision (credit) 71 (6 ) 23 (21 ) (9 ) 58 Ending balance 20 — 47 8 — 75 Total ending balance $ 22,009 $ 1,592 $ 3,657 $ 19,671 $ 3,817 $ 50,746 Ending balance: individually evaluated for impairment $ 3,474 $ — $ 167 $ 1,722 $ — $ 5,363 Ending balance: collectively evaluated for impairment 18,535 1,592 3,490 17,949 3,817 45,383 Loans: Ending balance 1,116,204 298,395 1,533,338 2,136,431 578,414 5,662,782 Ending balance: individually evaluated for impairment 12,864 — 4,522 12,012 — 29,398 Ending balance: collectively evaluated for impairment 1,103,340 298,395 1,528,816 2,124,419 578,414 5,633,384 For the Three Months Ended September 30, 2019 Commercial, Real estate Residential Commercial Loans to Total (dollars in thousands) Allowance for credit losses: Originated loans: Beginning balance $ 20,678 $ 2,491 $ 4,133 $ 19,287 $ 4,407 $ 50,996 Charge-offs (742 ) — (383 ) (6 ) (1,571 ) (2,702 ) Recoveries 41 74 6 81 162 364 Provision (credit) (37 ) (155 ) 160 (335 ) 1,715 1,348 Ending balance 19,940 2,410 3,916 19,027 4,713 50,006 Acquired loans: Beginning balance 15 — 25 25 — 65 Charge-offs (49 ) — — (1,376 ) (3 ) (1,428 ) Recoveries 21 — 11 — — 32 Provision (credit) 20 — (35 ) 1,372 3 1,360 Ending balance 7 — 1 21 — 29 Total ending balance $ 19,947 $ 2,410 $ 3,917 $ 19,048 $ 4,713 $ 50,035 For the Three Months Ended, September 30, 2018 Commercial, Real estate Residential Commercial Loans to Total (dollars in thousands) Allowance for credit losses: Originated loans: Beginning balance $ 25,082 $ 1,262 $ 3,556 $ 17,731 $ 3,527 $ 51,158 Charge-offs (2,582 ) — (268 ) — (1,076 ) (3,926 ) Recoveries 53 92 26 36 153 360 Provision (credit) (564 ) 238 296 1,896 1,213 3,079 Ending balance 21,989 1,592 3,610 19,663 3,817 50,671 Acquired loans: Beginning balance 23 — 127 6 — 156 Charge-offs — — (9 ) — (4 ) (13 ) Recoveries 13 — 25 — 12 50 Provision (credit) (16 ) — (96 ) 2 (8 ) (118 ) Ending balance 20 — 47 8 — 75 Total ending balance $ 22,009 $ 1,592 $ 3,657 $ 19,671 $ 3,817 $ 50,746 |
Leases Lease Liability Maturity
Leases Lease Liability Maturity (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Leases [Abstract] | |
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block] | Future minimum payments for operating leases with initial or remaining terms of one year or more as of September 30, 2019 were as follows (dollars in thousands): For the twelve months ended: September 30, 2020 $ 5,223 September 30, 2021 5,084 September 30, 2022 4,989 September 30, 2023 4,954 September 30, 2024 4,824 Thereafter 45,583 Total future minimum lease payments 70,657 Less remaining imputed interest 16,920 Present value of future minimum lease payments $ 53,737 |
Leases Lease Assets and Liabili
Leases Lease Assets and Liabilities (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Leases [Abstract] | |
Lessee, Operating Leases [Text Block] | The following table represents the Consolidated Statements of Condition classification of the Company’s ROU assets and lease liabilities, lease costs and other lease information as of and for the nine months ended September 30, 2019 (dollars in thousands). Balance sheet: Operating lease asset classified as premises and equipment $ 49,548 Operating lease liability classified as other liabilities 53,737 Income statement: Operating lease cost classified as occupancy and equipment expense for the nine months ended September 30, 2019 $ 3,959 Operating lease cost classified as occupancy and equipment expense for the three months ended September 30, 2019 1,275 Weighted average lease term, in years 15.44 Weighted average discount rate 3.42 % Operating cash flows $ 3,351 |
Fair Values of Assets and Lia_2
Fair Values of Assets and Liabilities (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Fair Value Disclosures [Abstract] | |
Fair Value Inputs, Assets, Quantitative Information | In accordance with ASU No. 2011 -4 , "Fair Value Measurements (Topic 820)," the following table provides information related to quantitative inputs and assumptions used in September 30, 2019 Level 3 fair value measurements. Fair Value (dollars Valuation Unobservable Inputs Range / Other Investments $ 1,670 CarryingValue N/A N/A Impaired Loans 932 (a) Reserve study Discount rate 10.00% Gas per MMBTU $2.61 - $3.49 (b) Oil per BBL/d $47.09 - $53.14 (b) 2,539 (a) Discounted Cash Flow Discount Rate 3.84% - 9.50% Limited Partnership Investments 4,131 Par Value N/A N/A (a) The remainder of impaired loans valued using Level 3 inputs are not included in this disclosure as the values of those loans are based on bankruptcy agreement documentation. (b) Unobservable inputs are defined as follows: MMBTU - million British thermal units; BBL/d - barrels per day. |
Schedule of Assets and Liabilities Measured at Fair Value on Recurring Basis | The tables below present the balances of assets and liabilities measured at fair value on a recurring basis: September 30, 2019 Level 1 Level 2 Level 3 Total (dollars in thousands) Obligations of U.S. Government Agencies: Mortgage-Backed Securities - Residential $ — $ 8,767 $ — $ 8,767 Mortgage-Backed Securities - Commercial — 171,591 — 171,591 Obligations of U.S. Government-Sponsored Enterprises: Mortgage-Backed Securities - Residential — 584,824 — 584,824 Other Government-Sponsored Enterprises — 998 — 998 Obligations of States and Political Subdivisions — 22,168 — 22,168 Corporate Securities — 24,035 — 24,035 Total Securities Available for Sale — 812,383 — 812,383 Other Investments — 9,891 1,670 11,561 Loans Held for Sale — 20,288 — 20,288 Other Assets(a) — 27,571 4,131 31,702 Total Assets $ — $ 870,133 $ 5,801 $ 875,934 Other Liabilities(a) $ — $ 27,784 $ — $ 27,784 Total Liabilities $ — $ 27,784 $ — $ 27,784 (a) Hedging and non-hedging interest rate derivatives and limited partnership investments December 31, 2018 Level 1 Level 2 Level 3 Total (dollars in thousands) Obligations of U.S. Government Agencies: Mortgage-Backed Securities - Residential $ — $ 9,406 $ — $ 9,406 Mortgage-Backed Securities - Commercial — 167,744 — 167,744 Obligations of U.S. Government-Sponsored Enterprises: Mortgage-Backed Securities - Residential — 673,361 — 673,361 Other Government-Sponsored Enterprises — 10,012 — 10,012 Obligations of States and Political Subdivisions — 27,712 — 27,712 Corporate Securities — 21,012 — 21,012 Total Securities Available for Sale — 909,247 — 909,247 Other Investments — 30,456 1,670 32,126 Loans Held for Sale — 11,881 — 11,881 Other Assets(a) — 1,769 2,696 4,465 Total Assets $ — $ 953,353 $ 4,366 $ 957,719 Other Liabilities(a) $ — $ 2,081 $ — $ 2,081 Total Liabilities $ — $ 2,081 $ — $ 2,081 (a) |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation | For the nine months ended September 30 , changes in Level 3 assets and liabilities measured at fair value on a recurring basis are summarized as follows: 2019 Other Investments Other Total (dollars in thousands) Balance, beginning of period $ 1,670 $ 2,696 $ 4,366 Total gains or losses Included in earnings — 198 198 Included in other comprehensive income — — — Purchases, issuances, sales and settlements Purchases — 1,237 1,237 Issuances — — — Sales — — — Settlements — — — Transfers from Level 3 — — — Transfers into Level 3 — — — Balance, end of period $ 1,670 $ 4,131 $ 5,801 2018 Pooled Trust Preferred Collateralized Debt Obligations Other Investments Other Total (dollars in thousands) Balance, beginning of period $ 23,646 $ 1,670 $ 2,143 $ 27,459 Total gains or losses Included in earnings 8,102 — — 8,102 Included in other comprehensive income (118 ) — — (118 ) Purchases, issuances, sales and settlements Purchases — — 426 426 Issuances — — — — Sales (12,289 ) — — (12,289 ) Settlements (19,341 ) — (48 ) (19,389 ) Transfers from Level 3 — — — — Transfers into Level 3 — — — — Balance, end of period $ — $ 1,670 $ 2,521 $ 4,191 During the nine months ended September 30, 2019 and 2018 , there were no transfers between fair value Levels 1 , 2 or 3. There were no gains or losses included in earnings for the periods presented that are attributable to the change in realized gains (losses) relating to assets held at September 30, 2019 and 2018 . For the three months ended September 30 , changes in Level 3 assets and liabilities measured at fair value on a recurring basis are summarized as follows: 2019 Other Investments Other Total (dollars in thousands) Balance, beginning of period $ 1,670 $ 3,312 $ 4,982 Total gains or losses Included in earnings — 245 245 Included in other comprehensive income — — — Purchases, issuances, sales and settlements Purchases — 574 574 Issuances — — — Sales — — — Settlements — — — Transfers from Level 3 — — — Transfers into Level 3 — — — Balance, end of period $ 1,670 $ 4,131 $ 5,801 2018 Other Investments Other Total (dollars in thousands) Balance, beginning of period $ 1,670 $ 2,297 $ 3,967 Total gains or losses Included in earnings — — — Included in other comprehensive income — — — Purchases, issuances, sales and settlements Purchases — 272 272 Issuances — — — Sales — — — Settlements — (48 ) (48 ) Transfers from Level 3 — — — Transfers into Level 3 — — — Balance, end of period $ 1,670 $ 2,521 $ 4,191 |
Schedule of Assets Measured on Non-Recurring Basis | The tables below present the balances of assets measured at fair value on a nonrecurring basis at: September 30, 2019 Level 1 Level 2 Level 3 Total (dollars in thousands) Impaired loans $ — $ 20,407 $ 13,372 $ 33,779 Other real estate owned — 1,981 — 1,981 Total Assets $ — $ 22,388 $ 13,372 $ 35,760 December 31, 2018 Level 1 Level 2 Level 3 Total (dollars in thousands) Impaired loans $ — $ 15,076 $ 15,320 $ 30,396 Other real estate owned — 4,035 — 4,035 Total Assets $ — $ 19,111 $ 15,320 $ 34,431 |
Losses Realized on Assets Measured on Non-Recurring Basis | The following (losses) gains were realized on the assets measured on a nonrecurring basis: For the Three Months Ended September 30, For the Nine Months Ended September 30, 2019 2018 2019 2018 (dollars in thousands) Impaired loans $ (954 ) $ (239 ) $ (2,606 ) $ (6,659 ) Other real estate owned (42 ) (128 ) (51 ) (544 ) Total losses $ (996 ) $ (367 ) $ (2,657 ) $ (7,203 ) |
Carrying Amounts and Fair Values of Financial Instruments | The following table presents carrying amounts and fair values of First Commonwealth’s financial instruments: September 30, 2019 Fair Value Measurements Using: Carrying Total Level 1 Level 2 Level 3 (dollars in thousands) Financial assets Cash and due from banks $ 112,241 $ 112,241 $ 112,241 $ — $ — Interest-bearing deposits 16,408 16,408 16,408 — — Securities available for sale 812,383 812,383 — 812,383 — Securities held to maturity 357,890 360,224 — 360,224 — Other investments 11,561 11,561 — 9,891 1,670 Loans held for sale 20,288 20,288 — 20,288 — Loans 6,099,561 6,213,529 — 20,407 6,193,122 Financial liabilities Deposits 6,677,996 6,685,082 — 6,685,082 — Short-term borrowings 83,735 83,698 — 83,698 — Subordinated debt 170,409 169,601 — — 169,601 Long-term debt 57,078 57,389 — 57,389 — Capital lease obligation 6,917 6,917 — 6,917 — December 31, 2018 Fair Value Measurements Using: Carrying Total Level 1 Level 2 Level 3 (dollars in thousands) Financial assets Cash and due from banks $ 95,934 $ 95,934 $ 95,934 $ — $ — Interest-bearing deposits 3,013 3,013 3,013 — — Securities available for sale 909,247 909,247 — 909,247 — Securities held to maturity 393,855 383,993 — 383,993 — Other investments 32,126 32,126 — 30,456 1,670 Loans held for sale 11,881 11,881 — 11,881 — Loans 5,774,139 5,821,791 — 15,076 5,806,715 Financial liabilities Deposits 5,897,992 5,904,147 — 5,904,147 — Short-term borrowings 721,823 721,532 — 721,532 — Subordinated debt 170,288 168,067 — — 168,067 Long-term debt 7,551 7,720 — 7,720 — Capital lease obligation 7,217 7,217 — 7,217 — |
Derivatives (Tables)
Derivatives (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Credit Value Adjustment Recorded Related to Notional Amount Of Derivatives Outstanding | The following table depicts the credit value and fair value adjustments recorded related to the notional amount of derivatives outstanding as well as the notional amount of risk participation agreements participated to other banks: September 30, 2019 December 31, 2018 (dollars in thousands) Derivatives not Designated as Hedging Instruments Credit value adjustment $ (91 ) $ (3 ) Notional amount: Interest rate derivatives 480,872 411,645 Interest rate caps 87,401 36,111 Interest rate collars 35,354 — Risk participation agreements 178,502 162,139 Sold credit protection on risk participation agreements (70,016 ) (59,315 ) Interest rate options 32,720 9,900 Derivatives Designated as Hedging Instruments Interest rate swaps: Fair value adjustment (124 ) (133 ) Notional amount 70,000 65,000 Interest rate forwards: Fair value adjustment (48 ) (170 ) Notional amount 47,000 15,000 Foreign exchange forwards: Fair value adjustment 50 (6 ) Notional amount 4,874 1,927 |
Schedule of Changes in Fair Value of Derivative Assets and Liabilities | The table below presents the change in the fair value of derivative assets and derivative liabilities attributable to credit risk or fair value changes included in "Other income," 'Other expense," "Interest on subordinated debentures" or "Interest and fees on loans" in the Consolidated Statements of Income: For the Three Months Ended September 30, For the Nine Months Ended September 30, 2019 2018 2019 2018 (dollars in thousands) Non-hedging interest rate derivatives (Decrease) increase in other income $ (33 ) $ — $ 420 $ 789 Increase (decrease) in other expense — 221 — (432 ) Hedging interest rate derivatives Decrease in interest and fees on loans — (193 ) (118 ) (424 ) Decrease in interest from subordinated debentures (70 ) — (70 ) — Increase in other expense — — 7 10 Hedging interest rate forwards Increase in other income 201 — 122 — Increase in other expense — 125 — 96 Hedging foreign exchange forwards Increase in other expense 3 2 4 10 |
Subordinated Debentures Subor_2
Subordinated Debentures Subordinated Debentures Outstanding (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Revenue Recognition and Deferred Revenue [Abstract] | |
Schedule of Subordinated Borrowing [Table Text Block] | Subordinated debentures outstanding are as follows: September 30, 2019 December 31, 2018 Due Amount Rate Amount Rate (dollars in thousands) Owed to: First Commonwealth Bank 2028 $ 49,198 4.875% until June 1, 2023, then LIBOR + 1.845% $ 49,131 4.875% until June 1, 2023, then LIBOR + 1.845% First Commonwealth Bank 2033 49,044 5.50% until June 1, 2028, then LIBOR + 2.37% 48,990 5.50% until June 1, 2028, then LIBOR + 2.37% First Commonwealth Capital Trust II 2034 30,929 LIBOR + 2.85% 30,929 LIBOR + 2.85% First Commonwealth Capital Trust III 2034 41,238 LIBOR + 2.85% 41,238 LIBOR + 2.85% Total $ 170,409 $ 170,288 |
Revenue Recognition Revenue Rec
Revenue Recognition Revenue Recogntion (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Revenue Recognition [Abstract] | |
Revenue Recognition, Transition Adjustment [Table Text Block] | |
Revenue Recognition and Deferred Revenue [Abstract] | |
Deferred Revenue, by Arrangement, Disclosure [Table Text Block] | The following presents noninterest income, segregated by revenue streams in-scope and out-of-scope of Topic 606: For the Three Months Ended September 30, For the Nine Months Ended September 30, 2019 2018 2019 2018 (dollars in thousands) Noninterest Income In-scope of Topic 606: Trust income $ 2,325 $ 2,206 $ 6,221 $ 6,014 Service charges on deposit accounts 4,954 4,589 13,792 13,418 Insurance and retail brokerage commissions 1,912 1,872 5,887 5,560 Card-related interchange income 5,629 5,044 15,800 14,929 Gain on sale of other loans and assets 181 335 861 726 Other income 937 928 2,789 2,800 Noninterest Income (in-scope of Topic 606) 15,938 14,974 45,350 43,447 Noninterest Income (out-of-scope of Topic 606) 6,241 4,783 17,607 24,661 Total Noninterest Income $ 22,179 $ 19,757 $ 62,957 $ 68,108 |
Basis of Presentation Additiona
Basis of Presentation Additional Information (Details) $ in Thousands | Sep. 30, 2019USD ($) |
Lessee, Lease, Description [Line Items] | |
Operating Lease, Right-of-Use Asset | $ 49,548 |
Operating Lease, Liability | 53,737 |
Accounting Standards Update 2016-02 [Member] | |
Lessee, Lease, Description [Line Items] | |
Operating Lease, Right-of-Use Asset | 38,500 |
Operating Lease, Liability | $ 41,800 |
Acquisition Schedule of Net Ass
Acquisition Schedule of Net Assets Acquired (Details) - USD ($) $ in Thousands | Sep. 06, 2019 | May 01, 2018 |
Garfield Acquisition Corp [Member] | ||
Business Acquisition [Line Items] | ||
Business Combination, Consideration Transferred, Other | $ 17,400 | |
Shares issued to shareholders (2,745,098 shares) | 41,561 | |
Payments to Acquire Businesses, Gross | 58,961 | |
Cash and cash equivalents | 18,105 | |
FHLB Stock | 3,261 | |
Loans | 184,506 | |
Premises and other equipment | 409 | |
Intangible assets | 1,248 | |
Other assets | 1,747 | |
Total assets acquired | 209,276 | |
Deposits | 141,281 | |
FHLB borrowings | 22,988 | |
Other liabilities | 5,068 | |
Total liabilities assumed | 169,337 | |
Total Fair Value of Identifiable Net Assets | 39,939 | |
Goodwill, Acquired During Period | $ 19,022 | |
Santandar Bank N.A. [Member] | ||
Business Acquisition [Line Items] | ||
Payments to Acquire Businesses, Gross | $ 329,530 | |
Cash and cash equivalents | 2,935 | |
Loans | 100,025 | |
Premises and other equipment | 3,637 | |
Intangible assets | 5,277 | |
Other assets | 736 | |
Total assets acquired | 112,610 | |
Deposits | 471,383 | |
Other liabilities | 187 | |
Total liabilities assumed | 471,570 | |
Total Fair Value of Identifiable Net Assets | (358,960) | |
Goodwill, Acquired During Period | $ 29,430 |
Acquisition Schedule of Net A_2
Acquisition Schedule of Net Assets Acquired - Additional Information (Details) - USD ($) $ in Thousands | Sep. 06, 2019 | May 01, 2018 | Sep. 30, 2019 | Sep. 30, 2018 |
Business Acquisition [Line Items] | ||||
Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed, Deposits Contractual Amount | $ 471,000 | |||
Santandar Bank N.A. [Member] | ||||
Business Acquisition [Line Items] | ||||
Payments to Acquire Businesses, Gross | $ 329,530 | |||
Goodwill, Acquired During Period | 29,430 | |||
Loans | 100,025 | |||
Business Combination, Acquired Receivables, Gross Contractual Amount | 101,200 | |||
Business Combination Acquired Receivables Fair Value Adjustment | (1,200) | |||
Deposits | 471,383 | |||
Business Combination, Recognized Identifiable Assets Acquired And Liabilities Assumed, Deposits Fair Value Adjustment | 400 | |||
Intangible assets | $ 5,277 | |||
Business Combination, Acquisition Related Costs | $ 3,700 | |||
Garfield Acquisition Corp [Member] | ||||
Business Acquisition [Line Items] | ||||
Payments to Acquire Businesses, Gross | $ 58,961 | |||
Business Combination, Consideration Transferred, Other | $ 17,400 | |||
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares | 2,745,098 | |||
Goodwill, Acquired During Period | $ 19,022 | |||
Loans | 184,506 | |||
Business Combination, Acquired Receivables, Gross Contractual Amount | 183,700 | |||
Business Combination Acquired Receivables Fair Value Adjustment | 4,300 | |||
Business Combination, Acquired Receivables, Contractual Adjustments | 5,100 | |||
Deposits | 141,281 | |||
Intangible assets | $ 1,248 | |||
Business Combination, Acquisition Related Costs | $ 1,600 |
Supplemental Comprehensive In_3
Supplemental Comprehensive Income Disclosures (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Supplemental Comprehensive Income Disclosures [Abstract] | ||||
Unrealized holding gains on securities arising during the period | $ 3,152 | $ (5,382) | $ 22,055 | $ (8,704) |
Reclassification adjustment for gains on securities included in net income | (9) | 0 | (15) | (8,102) |
Total unrealized gains on securities | 3,143 | (5,382) | 22,040 | (16,806) |
Unrealized holding (losses) gains on derivatives arising during the period | (124) | 198 | 9 | 165 |
Unrealized holding gains on securities arising during the period | (663) | 1,130 | (4,632) | 1,828 |
Reclassification adjustment for gains on derivatives included in net income, before Tax | 0 | 0 | 0 | 10 |
Total unrealized gain on derivatives | (124) | 198 | 9 | 175 |
Reclassification adjustment for gains on securities included in net income | 2 | 0 | 3 | 1,701 |
Total other comprehensive (loss) income | 3,019 | (5,184) | 22,049 | (16,631) |
Other Comprehensive Income (Loss), Securities, Available-for-sale, Tax | (661) | 1,130 | (4,629) | 3,529 |
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, Tax | 26 | (42) | (2) | (35) |
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI on Derivatives, Tax | 0 | 0 | 0 | (3) |
Other Comprehensive Income (Loss), Derivatives Qualifying as Hedges, Tax, Total | 26 | (42) | (2) | (38) |
Other Comprehensive Income (Loss), Tax | (635) | 1,088 | (4,631) | 3,491 |
Other comprehensive income (loss) before reclassification adjustment | 2,489 | (4,252) | 17,423 | (6,876) |
Total unrealized (losses) gains on securities | 2,482 | (4,252) | 17,411 | (13,277) |
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, Net of Tax | (98) | 156 | 7 | 130 |
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI on Derivatives, Net of Tax | 0 | 0 | 0 | (7) |
Other Comprehensive Income (Loss), Derivatives Qualifying as Hedges, Net of Tax, Total | (98) | 156 | 7 | 137 |
Total other comprehensive (loss) income | 2,384 | (4,096) | 17,418 | (13,140) |
Reclassification adjustment for gains on securities included in net income | $ 7 | $ 0 | $ 12 | $ 6,401 |
Supplemental Comprehensive In_4
Supplemental Comprehensive Income Disclosures (Details 2) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | Dec. 31, 2018 | Dec. 31, 2017 | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||||
Accumulated Other Comprehensive Income (Loss), Beginning Balance | $ (11,341) | |||||
Cumulative Effect of New Accounting Principle in Period of Adoption | $ 0 | |||||
Other comprehensive income (loss) before reclassification adjustment | $ 2,489 | $ (4,252) | 17,423 | $ (6,876) | ||
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, Net of Tax | (98) | 156 | 7 | 130 | ||
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI on Derivatives, Net of Tax | 0 | 0 | 0 | 7 | ||
Total other comprehensive (loss) income | 2,384 | (4,096) | 17,418 | (13,140) | ||
Accumulated Other Comprehensive Income (Loss), Ending Balance | 6,077 | 6,077 | ||||
Accumulated Net Unrealized Investment Gain (Loss) [Member] | ||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||||
Accumulated Other Comprehensive Income (Loss), Beginning Balance | (11,697) | (7,510) | ||||
Cumulative Effect of New Accounting Principle in Period of Adoption | (1,344) | |||||
Other comprehensive income (loss) before reclassification adjustment | 2,489 | (4,252) | 17,423 | (6,876) | ||
Amounts reclassified from accumulated other comprehensive income (loss) | (7) | 0 | (12) | (6,401) | ||
Total other comprehensive (loss) income | 2,482 | (4,252) | 17,411 | (13,277) | ||
Accumulated Other Comprehensive Income (Loss), Ending Balance | 5,714 | (20,787) | 5,714 | (20,787) | ||
Accumulated Defined Benefit Plans Adjustment [Member] | ||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||||
Accumulated Other Comprehensive Income (Loss), Beginning Balance | 461 | 299 | ||||
Cumulative Effect of New Accounting Principle in Period of Adoption | 0 | |||||
Other comprehensive income (loss) before reclassification adjustment | 0 | 0 | 0 | 0 | ||
Amounts reclassified from accumulated other comprehensive income (loss) | 0 | 0 | 0 | 0 | ||
Total other comprehensive (loss) income | 0 | 0 | 0 | 0 | ||
Accumulated Other Comprehensive Income (Loss), Ending Balance | 461 | 299 | 461 | 299 | ||
Derivative [Member] | ||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||||
Accumulated Other Comprehensive Income (Loss), Beginning Balance | (105) | (306) | ||||
Cumulative Effect of New Accounting Principle in Period of Adoption | 0 | |||||
Total other comprehensive (loss) income | (98) | 156 | 7 | 137 | ||
Accumulated Other Comprehensive Income (Loss), Ending Balance | (98) | (169) | (98) | (169) | ||
Accumulated Other Comprehensive Income (Loss) [Member] | ||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||||
Accumulated Other Comprehensive Income (Loss), Beginning Balance | (11,341) | (7,517) | ||||
Cumulative Effect of New Accounting Principle in Period of Adoption | $ (1,344) | |||||
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax | 2,391 | (4,096) | 17,430 | (6,746) | ||
Amounts reclassified from accumulated other comprehensive income (loss) | (7) | 0 | (12) | (6,394) | ||
Total other comprehensive (loss) income | 2,384 | (4,096) | 17,418 | (13,140) | ||
Accumulated Other Comprehensive Income (Loss), Ending Balance | 6,077 | (20,657) | 6,077 | (20,657) | ||
Previously Reported [Member] | Accumulated Net Unrealized Investment Gain (Loss) [Member] | ||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||||
Accumulated Other Comprehensive Income (Loss), Beginning Balance | 3,232 | (16,535) | (11,697) | (6,166) | ||
Previously Reported [Member] | Accumulated Defined Benefit Plans Adjustment [Member] | ||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||||
Accumulated Other Comprehensive Income (Loss), Beginning Balance | 461 | 299 | 461 | 299 | ||
Previously Reported [Member] | Derivative [Member] | ||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||||
Accumulated Other Comprehensive Income (Loss), Beginning Balance | 0 | (325) | (105) | (306) | ||
Previously Reported [Member] | Accumulated Other Comprehensive Income (Loss) [Member] | ||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||||
Accumulated Other Comprehensive Income (Loss), Beginning Balance | $ 3,693 | $ (16,561) | $ (11,341) | $ (6,173) | ||
Effect of ASU Adoption [Member] | Accumulated Net Unrealized Investment Gain (Loss) [Member] | ||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||||
Cumulative Effect of New Accounting Principle in Period of Adoption | $ 0 | |||||
Effect of ASU Adoption [Member] | Accumulated Defined Benefit Plans Adjustment [Member] | ||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||||
Cumulative Effect of New Accounting Principle in Period of Adoption | 0 | |||||
Effect of ASU Adoption [Member] | Derivative [Member] | ||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||||
Cumulative Effect of New Accounting Principle in Period of Adoption | 0 | |||||
Effect of ASU Adoption [Member] | Accumulated Other Comprehensive Income (Loss) [Member] | ||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||||
Cumulative Effect of New Accounting Principle in Period of Adoption | $ 0 |
Supplemental Cash Flow Disclo_3
Supplemental Cash Flow Disclosures - Non-cash Investing and Financing Activities (Detail) - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2019 | Sep. 30, 2018 | |
Cash paid during the period for: | ||
Interest | $ 42,195 | $ 25,780 |
Income Taxes Paid, Net | 16,994 | 18,750 |
Non-cash investing and financing activities: | ||
Loans Transferred to Other Real Estate Owned and Repossessions | 2,754 | 3,346 |
Fair value of loans transferred from held to maturity to held for sale | 21,620 | 29,765 |
Gross increase (decrease) in market value adjustment to securities available for sale | 22,041 | (16,806) |
Gross increase in market value adjustment to derivatives | 9 | 175 |
Stock Issued During Period, Value, Treasury Stock Reissued | 2,531 | 2,257 |
Net (liabilities) assets acquired through acquisition | (361,895) | (21,834) |
Unsettled Bank Owned Life Insurance Proceeds | $ 486 | $ 0 |
Earnings per Share - Compositio
Earnings per Share - Composition of Weighted-Average Common Shares (Denominator) Used in Basic and Diluted Earnings Per Share (Detail) - $ / shares | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Earnings Per Share [Abstract] | ||||
Weighted Average Number of Shares Issued, Basic | 113,914,902 | 113,914,902 | 113,914,902 | 113,914,902 |
Average treasury shares (in shares) | (15,496,941) | (13,550,710) | (15,396,215) | (14,783,078) |
Weighted Average Number of Shares, Deferred Compensation Plans | (37,411) | (37,411) | (37,411) | (37,411) |
Average unearned nonvested shares | (113,321) | (100,134) | (117,737) | (95,916) |
Weighted average common shares and common stock equivalents used to calculate basic earnings per share (in shares) | 98,267,229 | 100,226,647 | 98,363,539 | 98,998,497 |
Additional common stock equivalents (nonvested stock) used to calculate diluted earnings per share | 243,258 | 226,754 | 214,837 | 161,660 |
Weighted Average Number Of Additional Shares Deferred Compensation Plan | 37,411 | 37,411 | 37,411 | 37,411 |
Weighted average common shares and common stock equivalents used to calculate diluted earnings per share (in shares) | 98,547,898 | 100,490,812 | 98,615,787 | 99,197,568 |
Basic Earnings per Share (in dollars per share) | $ 0.27 | $ 0.25 | $ 0.80 | $ 0.81 |
Diluted Earnings per Share (in dollars per share) | $ 0.27 | $ 0.25 | $ 0.80 | $ 0.81 |
Earnings per Share - Common Sto
Earnings per Share - Common Stock Equivalents Not Included in Computation of Diluted Earnings Per Share (Detail) - $ / shares | 9 Months Ended | |
Sep. 30, 2019 | Sep. 30, 2018 | |
Restricted Stock [Member] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Antidilutive securities excluded from computation of earnings per share (in shares) | 95,054 | 66,332 |
Restricted Stock Units [Member] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Antidilutive securities excluded from computation of earnings per share (in shares) | 24,782 | 0 |
Minimum [Member] | Restricted Stock [Member] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Antidilutive Securities Excluded from Computation of Net Income, Per Outstanding Unit, Amount | $ 12.99 | $ 8.84 |
Minimum [Member] | Restricted Stock Units [Member] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Antidilutive Securities Excluded from Computation of Net Income, Per Outstanding Unit, Amount | 16.62 | 0 |
Maximum [Member] | Restricted Stock [Member] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Antidilutive Securities Excluded from Computation of Net Income, Per Outstanding Unit, Amount | 15.44 | 14.49 |
Maximum [Member] | Restricted Stock Units [Member] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Antidilutive Securities Excluded from Computation of Net Income, Per Outstanding Unit, Amount | $ 16.62 | $ 0 |
Commitments and Contingent Li_3
Commitments and Contingent Liabilities - Notional Amount of Outstanding Commitments (Detail) - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 |
Commitments to extend credit [Member] | ||
Loss Contingencies [Line Items] | ||
Financial instrument of credit risk | $ 1,990,464 | $ 1,883,914 |
Financial standby letters of credit [Member] | ||
Loss Contingencies [Line Items] | ||
Financial instrument of credit risk | 18,289 | 18,298 |
Performance standby letters of credit [Member] | ||
Loss Contingencies [Line Items] | ||
Financial instrument of credit risk | 25,249 | 22,027 |
Commercial letters of credit [Member] | ||
Loss Contingencies [Line Items] | ||
Financial instrument of credit risk | $ 783 | $ 887 |
Commitments and Contingent Li_4
Commitments and Contingent Liabilities - Additional Information (Detail) - USD ($) | Sep. 30, 2019 | Dec. 31, 2018 |
Loss Contingencies [Line Items] | ||
Notional Amount Of Performance Standby Letters Of Credit | $ 6,900,000 | |
Notional Amount Of Commercial Letters Of Credit | 0 | |
Notional Amount Of Financial Standby Letters Of Credit | 800,000 | |
Financial instrument of credit risk | 200,000 | $ 200,000 |
Unfunded commitment liability | 4,800,000 | $ 5,000,000 |
Minimum [Member] | ||
Loss Contingencies [Line Items] | ||
Loss Contingency, Estimate of Possible Loss | 0 | |
Maximum [Member] | ||
Loss Contingencies [Line Items] | ||
Loss Contingency, Estimate of Possible Loss | $ 1,000,000 |
Investment Securities - Analysi
Investment Securities - Analysis of Amortized Cost and Estimated Fair Values of Securities Available for Sale (Detail) - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 | |
Investment Securities [Line Items] | |||
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, within One Year, Amortized Cost | $ 1,527 | ||
Amortized Cost | 805,149 | $ 924,054 | |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | 9,830 | 2,998 | |
Gross Unrealized Losses | (2,596) | (17,805) | |
Securities available for sale, at fair value | 812,383 | 909,247 | |
Due within one year, Estimated Fair Value | 1,531 | ||
Due after one but within five years, Amortized Cost | 36,106 | ||
Due after one but within five years, Estimated Fair Value | 36,779 | ||
Due after five but within ten years, Amortized Cost | 8,240 | ||
Due after five but within ten years, Estimated Fair Value | 8,891 | ||
Due after ten years, Amortized Cost | 0 | ||
Due after ten years, Estimated Fair Value | 0 | ||
Due within one year, Amortized Cost | 45,873 | ||
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Fair Value | 47,201 | ||
Debt Securities, Available-for-sale, Maturity, without Single Maturity Date, Amortized Cost | [1] | 759,276 | |
Debt Securities, Available-for-sale, Maturity, without Single Maturity Date, Fair Value | [1] | 765,182 | |
US Government Agencies Residential Mortgage-backed Securities [Member] | |||
Investment Securities [Line Items] | |||
Amortized Cost | 176,100 | ||
Securities available for sale, at fair value | 180,400 | ||
Residential Mortgage Backed Securities [Member] | |||
Investment Securities [Line Items] | |||
Securities available for sale, at fair value | 584,824 | 673,361 | |
Obligations of U.S. Government-Sponsored Enterprises - Other Government-Sponsored Enterprises [Member] | |||
Investment Securities [Line Items] | |||
Securities available for sale, at fair value | 998 | 10,012 | |
Obligations of States and Political Subdivisions [Member] | |||
Investment Securities [Line Items] | |||
Securities available for sale, at fair value | 22,168 | 27,712 | |
Corporate Debt Securities [Member] | |||
Investment Securities [Line Items] | |||
Securities available for sale, at fair value | 24,035 | 21,012 | |
Debt Securities [Member] | |||
Investment Securities [Line Items] | |||
Amortized Cost | 805,149 | ||
Securities available for sale, at fair value | 812,383 | ||
US Government Agency Debt Securities Commercial [Domain] | |||
Investment Securities [Line Items] | |||
Amortized Cost | 168,006 | 169,633 | |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | 3,585 | 214 | |
Gross Unrealized Losses | 0 | (2,103) | |
Securities available for sale, at fair value | 171,591 | 167,744 | |
Corporate Debt Securities [Member] | |||
Investment Securities [Line Items] | |||
Amortized Cost | 22,914 | 20,912 | |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | 1,121 | 321 | |
Gross Unrealized Losses | 0 | (221) | |
Securities available for sale, at fair value | 24,035 | 21,012 | |
Obligations of States and Political Subdivisions [Member] | |||
Investment Securities [Line Items] | |||
Amortized Cost | 21,959 | 27,592 | |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | 209 | 126 | |
Gross Unrealized Losses | 0 | (6) | |
Securities available for sale, at fair value | 22,168 | 27,712 | |
Obligations of U.S. Government-Sponsored Enterprises - Other Government-Sponsored Enterprises [Member] | |||
Investment Securities [Line Items] | |||
Amortized Cost | 1,000 | 10,000 | |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | 0 | 12 | |
Gross Unrealized Losses | (2) | 0 | |
Securities available for sale, at fair value | 998 | 10,012 | |
Residential Mortgage Backed Securities [Member] | |||
Investment Securities [Line Items] | |||
Amortized Cost | 583,158 | 686,906 | |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | 4,260 | 1,846 | |
Gross Unrealized Losses | (2,594) | (15,391) | |
Securities available for sale, at fair value | 584,824 | 673,361 | |
US Government Agencies Residential Mortgage-backed Securities [Member] | |||
Investment Securities [Line Items] | |||
Amortized Cost | 8,112 | 9,011 | |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | 655 | 479 | |
Gross Unrealized Losses | 0 | (84) | |
Securities available for sale, at fair value | $ 8,767 | $ 9,406 | |
[1] | Mortgage-Backed Securities include an amortized cost of $176.1 million and a fair value of $180.4 million for Obligations of U.S. Government agencies issued by Ginnie Mae and an amortized cost of $583.2 million and a fair value of $584.8 million for Obligations of U.S. Government-sponsored enterprises issued by Fannie Mae and Freddie Mac. |
Investment Securities - Amortiz
Investment Securities - Amortized Cost and Estimated Fair Value of Debt Securities Available for Sale (Detail) - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 | |
Net Investment Income [Line Items] | |||
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Fair Value | $ 47,201 | ||
Due after five but within ten years, Amortized Cost | 8,240 | ||
Due after one but within five years, Amortized Cost | 36,106 | ||
Debt Securities, Available-for-sale, Maturity, without Single Maturity Date, Amortized Cost | [1] | 759,276 | |
Due within one year, Amortized Cost | 45,873 | ||
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, within One Year, Amortized Cost | 1,527 | ||
Due after ten years, Amortized Cost | 0 | ||
Corporate/Mortgage-Backed Securities, Amortized cost | [1] | 765,182 | |
Amortized Cost | 805,149 | $ 924,054 | |
Due within one year, Estimated Fair Value | 1,531 | ||
Due after one but within five years, Estimated Fair Value | 36,779 | ||
Due after five but within ten years, Estimated Fair Value | 8,891 | ||
Due after ten years, Estimated Fair Value | 0 | ||
Securities available for sale, at fair value | 812,383 | 909,247 | |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | 9,830 | 2,998 | |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax | 2,596 | 17,805 | |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | |||
Net Investment Income [Line Items] | |||
Amortized Cost | 583,200 | ||
Securities available for sale, at fair value | 584,800 | ||
Debt Securities [Member] | |||
Net Investment Income [Line Items] | |||
Amortized Cost | 805,149 | ||
Securities available for sale, at fair value | 812,383 | ||
Corporate Debt Securities [Member] | |||
Net Investment Income [Line Items] | |||
Securities available for sale, at fair value | 24,035 | 21,012 | |
Obligations of States and Political Subdivisions [Member] | |||
Net Investment Income [Line Items] | |||
Securities available for sale, at fair value | 22,168 | 27,712 | |
Obligations of U.S. Government-Sponsored Enterprises - Other Government-Sponsored Enterprises [Member] | |||
Net Investment Income [Line Items] | |||
Securities available for sale, at fair value | 998 | 10,012 | |
Residential Mortgage Backed Securities [Member] | |||
Net Investment Income [Line Items] | |||
Securities available for sale, at fair value | 584,824 | $ 673,361 | |
US Government Agencies Debt Securities [Member] | |||
Net Investment Income [Line Items] | |||
Amortized Cost | 176,100 | ||
Securities available for sale, at fair value | $ 180,400 | ||
[1] | Mortgage-Backed Securities include an amortized cost of $176.1 million and a fair value of $180.4 million for Obligations of U.S. Government agencies issued by Ginnie Mae and an amortized cost of $583.2 million and a fair value of $584.8 million for Obligations of U.S. Government-sponsored enterprises issued by Fannie Mae and Freddie Mac. |
Investment Securities - Amort_2
Investment Securities - Amortized Cost and Estimated Fair Value of Debt Securities Available for Sale (Detail) (1) - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 |
Investment Securities [Line Items] | ||
Amortized Cost | $ 805,149 | $ 924,054 |
Securities available for sale, at fair value | 812,383 | 909,247 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | 9,830 | 2,998 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax | 2,596 | 17,805 |
Obligations of U.S. Government-Sponsored Enterprises - Other Government-Sponsored Enterprises [Member] | ||
Investment Securities [Line Items] | ||
Amortized Cost | 1,000 | 10,000 |
Securities available for sale, at fair value | 998 | 10,012 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | 0 | 12 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax | 2 | $ 0 |
US Government Agencies Residential Mortgage-backed Securities [Member] | ||
Investment Securities [Line Items] | ||
Amortized Cost | 176,100 | |
Securities available for sale, at fair value | 180,400 | |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Investment Securities [Line Items] | ||
Amortized Cost | 583,200 | |
Securities available for sale, at fair value | 584,800 | |
Debt Securities [Member] | ||
Investment Securities [Line Items] | ||
Amortized Cost | 805,149 | |
Securities available for sale, at fair value | $ 812,383 |
Investment Securities - Proceed
Investment Securities - Proceeds from Sale, Gross Gains (Losses) Realized on Sales, Maturities and Other-Than-Temporary Impairment Charges Related to Securities Available for Sale (Detail) - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2019 | Sep. 30, 2018 | |
Investments, Debt and Equity Securities [Abstract] | ||
Proceeds from Sale of Available-for-sale Securities | $ 0 | $ 15,939 |
Sales Transactions: | ||
Available-for-sale Securities, Gross Realized Gains | 0 | 4,719 |
Gross losses | 0 | 0 |
Available-for-sale Securities, Gross Realized Gain (Loss), Excluding Other than Temporary Impairments | 0 | 4,719 |
Maturities and impairment | ||
Gross Gains | 15 | 3,383 |
Gross Losses | 0 | 0 |
Gain Losses Maturities And Impairment | 15 | 3,383 |
Net gains and impairment | $ 15 | $ 8,102 |
Investment Securities - Additio
Investment Securities - Additional Information (Detail) - USD ($) $ in Thousands | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Dec. 31, 2018 | |
Investments, Debt and Equity Securities [Abstract] | |||
Available-for-sale Securities, Gross Realized Gain (Loss), Excluding Other than Temporary Impairments | $ 0 | $ 4,719 | |
Gain Losses Maturities And Impairment | 15 | 3,383 | |
Available-for-sale Securities, Gross Realized Gains | 0 | 4,719 | |
Gross Losses | 0 | 0 | |
Gross Gains | 15 | 3,383 | |
Debt Securities, Held-to-maturity, Restricted | 324,900 | $ 250,300 | |
Proceeds from Sale of Available-for-sale Securities | 0 | $ 15,939 | |
Debt Securities, Available-for-sale, Restricted | $ 629,400 | $ 636,300 |
Investment Securities Schedule
Investment Securities Schedule of Held-to-Maturity Securities (Details) - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 |
Schedule of Held-to-maturity Securities [Line Items] | ||
Due within 1 year | $ 512 | |
Debt Securities, Held-to-maturity, Maturity, Allocated and Single Maturity Date, within One Year, Fair Value | 512 | |
Debt Securities, Held-to-maturity, Accumulated Unrecognized Gain | 2,741 | $ 387 |
Debt Securities, Held-to-maturity | 357,890 | 393,855 |
Securities held to maturity, fair value | 360,224 | $ 383,993 |
Due after 1 but within 5 years | 8,084 | |
Due after 5 but within 10 years | 33,902 | |
Debt Securities, Held-to-maturity, Maturity, Allocated and Single Maturity Date, after Five Through Ten Years, Fair Value | 34,464 | |
Debt Securities, Held-to-maturity, Maturity, Allocated and Single Maturity Date, after One Through Five Years, Fair Value | 8,144 | |
Due after 10 years | 0 | |
Debt Securities, Held-to-maturity, Maturity, Allocated and Single Maturity Date, after 10 Years, Fair Value | 0 | |
Debt Securities, Held-to-maturity, Maturity, Allocated and Single Maturity Date, Amortized Cost | 42,498 | |
Debt Securities, Held-to-maturity, Maturity, Allocated and Single Maturity Date, Fair Value | 43,120 | |
Debt Securities, Held-to-maturity, Maturity, without Single Maturity Date, Amortized Cost | 315,392 | |
Debt Securities, Held-to-maturity, Maturity, without Single Maturity Date, Fair Value | 317,104 | |
US Government Agencies Residential Mortgage-backed Securities [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Debt Securities, Held-to-maturity | 57,800 | |
Securities held to maturity, fair value | 57,900 | |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Debt Securities, Held-to-maturity | 257,600 | |
Securities held to maturity, fair value | $ 259,200 |
Investment Securities Held to M
Investment Securities Held to Maturity Securities by Type (Details) - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 |
Schedule of Held-to-maturity Securities [Line Items] | ||
Debt Securities, Held-to-maturity | $ 357,890 | $ 393,855 |
Debt Securities, Held-to-maturity, Accumulated Unrecognized Gain | 2,741 | 387 |
Debt Securities, Held-to-maturity, Accumulated Unrecognized Loss | (407) | (10,249) |
Securities held to maturity, fair value | 360,224 | 383,993 |
US Government Agencies Residential Mortgage-backed Securities [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Debt Securities, Held-to-maturity | 3,549 | 3,635 |
Debt Securities, Held-to-maturity, Accumulated Unrecognized Gain | 57 | 0 |
Debt Securities, Held-to-maturity, Accumulated Unrecognized Loss | 0 | (97) |
Securities held to maturity, fair value | 3,606 | 3,538 |
US Government Agency Debt Securities Commercial [Domain] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Debt Securities, Held-to-maturity | 54,244 | 55,221 |
Debt Securities, Held-to-maturity, Accumulated Unrecognized Gain | 173 | 0 |
Debt Securities, Held-to-maturity, Accumulated Unrecognized Loss | (106) | (2,327) |
Securities held to maturity, fair value | 54,311 | 52,894 |
Residential Mortgage Backed Securities [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Debt Securities, Held-to-maturity | 245,238 | 279,109 |
Debt Securities, Held-to-maturity, Accumulated Unrecognized Gain | 1,762 | 212 |
Debt Securities, Held-to-maturity, Accumulated Unrecognized Loss | (297) | (7,254) |
Securities held to maturity, fair value | 246,703 | 272,067 |
Obligations of U.S. Government-Sponsored Enterprises - Mortgage-Backed Securities - Commercial [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Debt Securities, Held-to-maturity | 12,361 | 13,159 |
Debt Securities, Held-to-maturity, Accumulated Unrecognized Gain | 123 | 0 |
Debt Securities, Held-to-maturity, Accumulated Unrecognized Loss | 0 | (258) |
Securities held to maturity, fair value | 12,484 | 12,901 |
Obligations of States and Political Subdivisions [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Debt Securities, Held-to-maturity | 41,898 | 42,331 |
Debt Securities, Held-to-maturity, Accumulated Unrecognized Gain | 626 | 175 |
Debt Securities, Held-to-maturity, Accumulated Unrecognized Loss | 0 | (313) |
Securities held to maturity, fair value | 42,524 | 42,193 |
Debt Security, Government, Non-US [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Debt Securities, Held-to-maturity | 600 | 400 |
Debt Securities, Held-to-maturity, Accumulated Unrecognized Gain | 0 | 0 |
Debt Securities, Held-to-maturity, Accumulated Unrecognized Loss | (4) | 0 |
Securities held to maturity, fair value | $ 596 | $ 400 |
Other Investments - Additional
Other Investments - Additional Information (Detail) - USD ($) $ in Millions | Sep. 30, 2019 | Dec. 31, 2018 |
Other Investments Disclosure [Abstract] | ||
Other investments | $ 9.9 | $ 30.5 |
Impairment of Investment Secu_3
Impairment of Investment Securities - Additional Information (Detail) | 9 Months Ended | ||
Sep. 30, 2019USD ($) | Sep. 30, 2018USD ($) | Dec. 31, 2018USD ($) | |
Debt and Equity Securities, FV-NI [Line Items] | |||
Other than temporary impairment charges recognized | $ 0 | $ 0 | |
Amortized Cost | 805,149,000 | $ 924,054,000 | |
Securities available for sale, at fair value | 812,383,000 | 909,247,000 | |
Investment Securities, Continuous Unrealized Loss Position, Accumulated Loss | 3,003,000 | 28,054,000 | |
Federal Home Loan Bank Stock | 9,900,000 | 30,500,000 | |
Other Investments and Securities, at Cost | $ 1,700,000 | 1,700,000 | |
Investment Securities in Unrealized Loss Position, Qualitative Disclosure, Number of Positions, Total | 40 | ||
Corporate Debt Securities [Member] | |||
Debt and Equity Securities, FV-NI [Line Items] | |||
Securities available for sale, at fair value | $ 24,035,000 | 21,012,000 | |
Equity Securities [Member] | |||
Debt and Equity Securities, FV-NI [Line Items] | |||
Other than temporary impairment charges recognized | $ 0 | $ 0 | |
US Government-sponsored Enterprises Debt Securities [Member] | |||
Debt and Equity Securities, FV-NI [Line Items] | |||
Percent of Unrealized Losses | 96.00% | ||
US Government Agencies Debt Securities [Member] | |||
Debt and Equity Securities, FV-NI [Line Items] | |||
Percent of Unrealized Losses | 4.00% | ||
Corporate Debt Securities [Member] | |||
Debt and Equity Securities, FV-NI [Line Items] | |||
Amortized Cost | $ 22,914,000 | 20,912,000 | |
Securities available for sale, at fair value | $ 24,035,000 | $ 21,012,000 | |
Investment Securities in Unrealized Loss Position, Qualitative Disclosure, Number of Positions, Total | 0 | 4 |
Impairment of Investment Secu_4
Impairment of Investment Securities - Schedule of Unrealized Losses and Estimated Fair Values (Detail) - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 |
Debt and Equity Securities, FV-NI [Line Items] | ||
Investment Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | $ 117,209 | $ 278,207 |
Investment Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | (348) | (3,121) |
Investment Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 257,981 | 733,222 |
Investment Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | (2,655) | (24,933) |
Investment Securities, Continuous Unrealized Loss Position, Fair Value, Total | 375,190 | 1,011,429 |
Investment Securities, Continuous Unrealized Loss Position, Accumulated Loss | (3,003) | (28,054) |
US Government Agencies Residential Mortgage-backed Securities [Member] | ||
Debt and Equity Securities, FV-NI [Line Items] | ||
Investment Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 2,289 | |
Investment Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | (41) | |
Investment Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 5,028 | |
Investment Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | (140) | |
Investment Securities, Continuous Unrealized Loss Position, Fair Value, Total | 7,317 | |
Investment Securities, Continuous Unrealized Loss Position, Accumulated Loss | (181) | |
US Government Agency Debt Securities Commercial [Domain] | ||
Debt and Equity Securities, FV-NI [Line Items] | ||
Investment Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 0 | 95,826 |
Investment Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 0 | (925) |
Investment Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 18,120 | 75,959 |
Investment Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | (106) | (3,505) |
Investment Securities, Continuous Unrealized Loss Position, Fair Value, Total | 18,120 | 171,785 |
Investment Securities, Continuous Unrealized Loss Position, Accumulated Loss | (106) | (4,430) |
Residential Mortgage Backed Securities [Member] | ||
Debt and Equity Securities, FV-NI [Line Items] | ||
Investment Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 115,615 | 156,732 |
Investment Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | (342) | (1,856) |
Investment Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 239,861 | 626,003 |
Investment Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | (2,549) | (20,789) |
Investment Securities, Continuous Unrealized Loss Position, Fair Value, Total | 355,476 | 782,735 |
Investment Securities, Continuous Unrealized Loss Position, Accumulated Loss | (2,891) | (22,645) |
Obligations of U.S. Government-Sponsored Enterprises - Mortgage-Backed Securities - Commercial [Member] | ||
Debt and Equity Securities, FV-NI [Line Items] | ||
Investment Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 0 | |
Investment Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 0 | |
Investment Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 12,901 | |
Investment Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | (258) | |
Investment Securities, Continuous Unrealized Loss Position, Fair Value, Total | 12,901 | |
Investment Securities, Continuous Unrealized Loss Position, Accumulated Loss | (258) | |
Obligations of U.S. Government-Sponsored Enterprises - Other Government-Sponsored Enterprises [Member] | ||
Debt and Equity Securities, FV-NI [Line Items] | ||
Investment Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 998 | |
Investment Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | (2) | |
Investment Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 0 | |
Investment Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 0 | |
Investment Securities, Continuous Unrealized Loss Position, Fair Value, Total | 998 | |
Investment Securities, Continuous Unrealized Loss Position, Accumulated Loss | (2) | |
Obligations of States and Political Subdivisions [Member] | ||
Debt and Equity Securities, FV-NI [Line Items] | ||
Investment Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 8,591 | |
Investment Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | (85) | |
Investment Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 9,338 | |
Investment Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | (234) | |
Investment Securities, Continuous Unrealized Loss Position, Fair Value, Total | 17,929 | |
Investment Securities, Continuous Unrealized Loss Position, Accumulated Loss | (319) | |
Debt Security, Government, Non-US [Member] | ||
Debt and Equity Securities, FV-NI [Line Items] | ||
Investment Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 596 | |
Investment Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | (4) | |
Investment Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 0 | |
Investment Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 0 | |
Investment Securities, Continuous Unrealized Loss Position, Fair Value, Total | 596 | |
Investment Securities, Continuous Unrealized Loss Position, Accumulated Loss | $ (4) | |
Corporate Securities [Member] | ||
Debt and Equity Securities, FV-NI [Line Items] | ||
Investment Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 14,769 | |
Investment Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | (214) | |
Investment Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 3,993 | |
Investment Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | (7) | |
Investment Securities, Continuous Unrealized Loss Position, Fair Value, Total | 18,762 | |
Investment Securities, Continuous Unrealized Loss Position, Accumulated Loss | $ (221) |
Impairment of Investment Secu_5
Impairment of Investment Securities - Cumulative Roll Forward of Credit Losses Recognized in Earnings for Debt Securities Held and Not Intended to be Sold (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |||
Impairment of Investment Securities Disclosure [Abstract] | ||||||
Balance, beginning (a) | $ 0 | $ 0 | $ 0 | [1] | $ 12,208 | [1] |
Credit losses on debt securities for which other-than-temporary impairment was not previously recognized | 0 | 0 | 0 | 0 | ||
Additional credit losses on debt securities for which other-than-temporary impairment was previously recognized | 0 | 0 | 0 | 0 | ||
Other than Temporary Impairment, Credit Losses Recognized in Earnings, Period Increase (Decrease) | 0 | 0 | 0 | 223 | ||
Other than Temporary Impairment, Credit Losses Recognized in Earnings, Reductions, Securities Sold | 0 | 0 | 0 | (9,164) | ||
Other than Temporary Impairment, Credit Losses Recognized in Earnings, Reductions, Cash Flows | 0 | 0 | 0 | (2,821) | ||
Balance, ending | $ 0 | $ 0 | $ 0 | $ 0 | ||
[1] | The beginning balance represents credit related losses included in other-than-temporary impairment charges recognized on debt securities in prior periods. |
Loans and Allowance for Credi_3
Loans and Allowance for Credit Losses - Outstanding Balances of Loan (Detail) - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 | Sep. 30, 2018 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans and Leases Receivable, Net of Deferred Income | $ 6,099,561 | $ 5,774,139 | $ 5,662,782 |
Commercial, financial, agricultural and other [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans and Leases Receivable, Net of Deferred Income | 1,138,473 | ||
Real estate construction [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans and Leases Receivable, Net of Deferred Income | 358,978 | ||
Residential real estate [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans and Leases Receivable, Net of Deferred Income | 1,562,405 | ||
Commercial Real Estate [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans and Leases Receivable, Net of Deferred Income | 2,123,544 | ||
Loans to individuals [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans and Leases Receivable, Net of Deferred Income | 590,739 | ||
Originated Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans and Leases Receivable, Net of Deferred Income | 5,577,489 | 5,275,296 | |
Originated Loans [Member] | Commercial, financial, agricultural and other [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans and Leases Receivable, Net of Deferred Income | 1,173,070 | 1,100,947 | |
Originated Loans [Member] | Real estate construction [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans and Leases Receivable, Net of Deferred Income | 413,562 | 353,008 | |
Originated Loans [Member] | Residential real estate [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans and Leases Receivable, Net of Deferred Income | 1,380,486 | 1,313,645 | |
Originated Loans [Member] | Commercial Real Estate [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans and Leases Receivable, Net of Deferred Income | 1,947,533 | 1,922,349 | |
Originated Loans [Member] | Loans to individuals [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans and Leases Receivable, Net of Deferred Income | 662,838 | 585,347 | |
Acquired Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans and Leases Receivable, Net of Deferred Income | 522,072 | 498,843 | |
Acquired Loans [Member] | Commercial, financial, agricultural and other [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans and Leases Receivable, Net of Deferred Income | 37,866 | 37,526 | |
Acquired Loans [Member] | Real estate construction [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans and Leases Receivable, Net of Deferred Income | 6,719 | 5,970 | |
Acquired Loans [Member] | Residential real estate [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans and Leases Receivable, Net of Deferred Income | 285,734 | 248,760 | |
Acquired Loans [Member] | Commercial Real Estate [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans and Leases Receivable, Net of Deferred Income | 176,707 | 201,195 | |
Acquired Loans [Member] | Loans to individuals [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans and Leases Receivable, Net of Deferred Income | $ 15,046 | $ 5,392 |
Loans and Allowance for Credi_4
Loans and Allowance for Credit Losses - Additional Information (Detail) - USD ($) | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | Dec. 31, 2018 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Non Accrual Status Of Loans After Number Of Days Past Due | 90 days | ||||
Default Status Of TDRs After Number Of Days Past Due | 90 days | ||||
Unfunded commitments related to nonperforming loans | $ 200,000 | $ 200,000 | $ 1,600,000 | ||
Off balance sheet reserve to nonperforming loans | 12,000 | 12,000 | 0 | ||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Sales | 0 | $ 0 | 0 | $ 12,289,000 | |
Total gains or losses included in earnings | 245,000 | 0 | $ 198,000 | 8,102,000 | |
Loans to individuals [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Non Accrual Status Of Loans After Number Of Days Past Due | 150 days | ||||
Impaired Loans [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans with modifications to rate and payment due to reamortization | 32,000 | $ 96,000 | $ 100,000 | 200,000 | |
Nonaccrual Commercial Loans [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans Held for sale, Amount | $ 0 | 0 | $ 0 | ||
Loans and Leases Receivable, Gain (Loss) on Sales, Net | $ 400,000 | $ 1,200,000 |
Loans and Allowance for Credi_5
Loans and Allowance for Credit Losses - Credit Risk Profile by Creditworthiness (Detail) - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 |
Originated Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | $ 5,577,489 | $ 5,275,296 |
Originated Loans [Member] | Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 5,465,611 | 5,160,953 |
Originated Loans [Member] | Special Mention [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 72,481 | 79,294 |
Originated Loans [Member] | Substandard [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 39,397 | 35,049 |
Originated Loans [Member] | Doubtful [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 0 | 0 |
Originated Loans [Member] | Criticized [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 111,878 | 114,343 |
Originated Loans [Member] | Commercial, financial, agricultural and other [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 1,173,070 | 1,100,947 |
Originated Loans [Member] | Commercial, financial, agricultural and other [Member] | Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 1,115,341 | 1,055,394 |
Originated Loans [Member] | Commercial, financial, agricultural and other [Member] | Special Mention [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 49,258 | 33,723 |
Originated Loans [Member] | Commercial, financial, agricultural and other [Member] | Substandard [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 8,471 | 11,830 |
Originated Loans [Member] | Commercial, financial, agricultural and other [Member] | Doubtful [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 0 | 0 |
Originated Loans [Member] | Commercial, financial, agricultural and other [Member] | Criticized [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 57,729 | 45,553 |
Originated Loans [Member] | Real estate construction [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 413,562 | 353,008 |
Originated Loans [Member] | Real estate construction [Member] | Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 413,535 | 337,367 |
Originated Loans [Member] | Real estate construction [Member] | Special Mention [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 27 | 15,641 |
Originated Loans [Member] | Real estate construction [Member] | Substandard [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 0 | 0 |
Originated Loans [Member] | Real estate construction [Member] | Doubtful [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 0 | 0 |
Originated Loans [Member] | Real estate construction [Member] | Criticized [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 27 | 15,641 |
Originated Loans [Member] | Residential real estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 1,380,486 | 1,313,645 |
Originated Loans [Member] | Residential real estate [Member] | Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 1,371,231 | 1,302,912 |
Originated Loans [Member] | Residential real estate [Member] | Special Mention [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 487 | 1,026 |
Originated Loans [Member] | Residential real estate [Member] | Substandard [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 8,768 | 9,707 |
Originated Loans [Member] | Residential real estate [Member] | Doubtful [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 0 | 0 |
Originated Loans [Member] | Residential real estate [Member] | Criticized [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 9,255 | 10,733 |
Originated Loans [Member] | Commercial Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 1,947,533 | 1,922,349 |
Originated Loans [Member] | Commercial Real Estate [Member] | Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 1,902,969 | 1,880,139 |
Originated Loans [Member] | Commercial Real Estate [Member] | Special Mention [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 22,709 | 28,904 |
Originated Loans [Member] | Commercial Real Estate [Member] | Substandard [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 21,855 | 13,306 |
Originated Loans [Member] | Commercial Real Estate [Member] | Doubtful [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 0 | 0 |
Originated Loans [Member] | Commercial Real Estate [Member] | Criticized [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 44,564 | 42,210 |
Originated Loans [Member] | Loans to individuals [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 662,838 | 585,347 |
Originated Loans [Member] | Loans to individuals [Member] | Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 662,535 | 585,141 |
Originated Loans [Member] | Loans to individuals [Member] | Special Mention [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 0 | 0 |
Originated Loans [Member] | Loans to individuals [Member] | Substandard [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 303 | 206 |
Originated Loans [Member] | Loans to individuals [Member] | Doubtful [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 0 | 0 |
Originated Loans [Member] | Loans to individuals [Member] | Criticized [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 303 | 206 |
Acquired Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 522,072 | 498,843 |
Acquired Loans [Member] | Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 505,259 | 485,951 |
Acquired Loans [Member] | Special Mention [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 5,491 | 7,700 |
Acquired Loans [Member] | Substandard [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 11,322 | 5,192 |
Acquired Loans [Member] | Doubtful [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 0 | 0 |
Acquired Loans [Member] | Criticized [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 16,813 | 12,892 |
Acquired Loans [Member] | Commercial, financial, agricultural and other [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 37,866 | 37,526 |
Acquired Loans [Member] | Commercial, financial, agricultural and other [Member] | Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 30,986 | 31,399 |
Acquired Loans [Member] | Commercial, financial, agricultural and other [Member] | Special Mention [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 2,143 | 5,890 |
Acquired Loans [Member] | Commercial, financial, agricultural and other [Member] | Substandard [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 4,737 | 237 |
Acquired Loans [Member] | Commercial, financial, agricultural and other [Member] | Doubtful [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 0 | 0 |
Acquired Loans [Member] | Commercial, financial, agricultural and other [Member] | Criticized [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 6,880 | 6,127 |
Acquired Loans [Member] | Real estate construction [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 6,719 | 5,970 |
Acquired Loans [Member] | Real estate construction [Member] | Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 6,134 | 5,337 |
Acquired Loans [Member] | Real estate construction [Member] | Special Mention [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 585 | 633 |
Acquired Loans [Member] | Real estate construction [Member] | Substandard [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 0 | 0 |
Acquired Loans [Member] | Real estate construction [Member] | Doubtful [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 0 | 0 |
Acquired Loans [Member] | Real estate construction [Member] | Criticized [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 585 | 633 |
Acquired Loans [Member] | Residential real estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 285,734 | 248,760 |
Acquired Loans [Member] | Residential real estate [Member] | Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 283,171 | 245,637 |
Acquired Loans [Member] | Residential real estate [Member] | Special Mention [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 637 | 736 |
Acquired Loans [Member] | Residential real estate [Member] | Substandard [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 1,926 | 2,387 |
Acquired Loans [Member] | Residential real estate [Member] | Doubtful [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 0 | 0 |
Acquired Loans [Member] | Residential real estate [Member] | Criticized [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 2,563 | 3,123 |
Acquired Loans [Member] | Commercial Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 176,707 | 201,195 |
Acquired Loans [Member] | Commercial Real Estate [Member] | Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 169,935 | 198,201 |
Acquired Loans [Member] | Commercial Real Estate [Member] | Special Mention [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 2,126 | 441 |
Acquired Loans [Member] | Commercial Real Estate [Member] | Substandard [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 4,646 | 2,553 |
Acquired Loans [Member] | Commercial Real Estate [Member] | Doubtful [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 0 | 0 |
Acquired Loans [Member] | Commercial Real Estate [Member] | Criticized [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 6,772 | 2,994 |
Acquired Loans [Member] | Loans to individuals [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 15,046 | 5,392 |
Acquired Loans [Member] | Loans to individuals [Member] | Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 15,033 | 5,377 |
Acquired Loans [Member] | Loans to individuals [Member] | Special Mention [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 0 | 0 |
Acquired Loans [Member] | Loans to individuals [Member] | Substandard [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 13 | 15 |
Acquired Loans [Member] | Loans to individuals [Member] | Doubtful [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 0 | 0 |
Acquired Loans [Member] | Loans to individuals [Member] | Criticized [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | $ 13 | $ 15 |
Loans and Allowance for Credi_6
Loans and Allowance for Credit Losses - Age Analysis of Past Due Loans by Segment (Detail) - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 | Sep. 30, 2018 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total | $ 6,099,561 | $ 5,774,139 | $ 5,662,782 |
Commercial, financial, agricultural and other [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total | 1,210,936 | 1,116,204 | |
Real estate construction [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total | 420,281 | 298,395 | |
Residential real estate [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total | 1,666,220 | 1,533,338 | |
Commercial Real Estate [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total | 2,124,240 | 2,136,431 | |
Loans to individuals [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total | 677,884 | $ 578,414 | |
Acquired Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Financing Receivable Recorded Investment Equal To Or Greater Than Thirty Days Past Due | 9,022 | 3,512 | |
Financing Receivable, Not Past Due | 513,050 | 495,331 | |
Total | 522,072 | 498,843 | |
Acquired Loans [Member] | Commercial, financial, agricultural and other [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Financing Receivable Recorded Investment Equal To Or Greater Than Thirty Days Past Due | 4,707 | 205 | |
Financing Receivable, Not Past Due | 33,159 | 37,321 | |
Total | 37,866 | 37,526 | |
Acquired Loans [Member] | Real estate construction [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Financing Receivable Recorded Investment Equal To Or Greater Than Thirty Days Past Due | 0 | 0 | |
Financing Receivable, Not Past Due | 6,719 | 5,970 | |
Total | 6,719 | 5,970 | |
Acquired Loans [Member] | Residential real estate [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Financing Receivable Recorded Investment Equal To Or Greater Than Thirty Days Past Due | 2,432 | 2,181 | |
Financing Receivable, Not Past Due | 283,302 | 246,579 | |
Total | 285,734 | 248,760 | |
Acquired Loans [Member] | Commercial Real Estate [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Financing Receivable Recorded Investment Equal To Or Greater Than Thirty Days Past Due | 1,612 | 1,042 | |
Financing Receivable, Not Past Due | 175,095 | 200,153 | |
Total | 176,707 | 201,195 | |
Acquired Loans [Member] | Loans to individuals [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Financing Receivable Recorded Investment Equal To Or Greater Than Thirty Days Past Due | 271 | 84 | |
Financing Receivable, Not Past Due | 14,775 | 5,308 | |
Total | 15,046 | 5,392 | |
Acquired Loans [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total past due and nonaccrual | 624 | 273 | |
Acquired Loans [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | Commercial, financial, agricultural and other [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total past due and nonaccrual | 10 | 1 | |
Acquired Loans [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | Real estate construction [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total past due and nonaccrual | 0 | 0 | |
Acquired Loans [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | Residential real estate [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total past due and nonaccrual | 394 | 226 | |
Acquired Loans [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | Commercial Real Estate [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total past due and nonaccrual | 0 | 0 | |
Acquired Loans [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | Loans to individuals [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total past due and nonaccrual | 220 | 46 | |
Acquired Loans [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total past due and nonaccrual | 117 | 36 | |
Acquired Loans [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | Commercial, financial, agricultural and other [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total past due and nonaccrual | 0 | 0 | |
Acquired Loans [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | Real estate construction [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total past due and nonaccrual | 0 | 0 | |
Acquired Loans [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | Residential real estate [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total past due and nonaccrual | 101 | 24 | |
Acquired Loans [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | Commercial Real Estate [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total past due and nonaccrual | 0 | 0 | |
Acquired Loans [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | Loans to individuals [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total past due and nonaccrual | 16 | 12 | |
Acquired Loans [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total past due and nonaccrual | 145 | 38 | |
Acquired Loans [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Commercial, financial, agricultural and other [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total past due and nonaccrual | 4 | 0 | |
Acquired Loans [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Real estate construction [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total past due and nonaccrual | 0 | 0 | |
Acquired Loans [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Residential real estate [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total past due and nonaccrual | 119 | 27 | |
Acquired Loans [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Commercial Real Estate [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total past due and nonaccrual | 0 | 0 | |
Acquired Loans [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Loans to individuals [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total past due and nonaccrual | 22 | 11 | |
Acquired Loans [Member] | Non Accrual Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total past due and nonaccrual | 8,136 | 3,165 | |
Acquired Loans [Member] | Non Accrual Loans [Member] | Commercial, financial, agricultural and other [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total past due and nonaccrual | 4,693 | 204 | |
Acquired Loans [Member] | Non Accrual Loans [Member] | Real estate construction [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total past due and nonaccrual | 0 | 0 | |
Acquired Loans [Member] | Non Accrual Loans [Member] | Residential real estate [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total past due and nonaccrual | 1,818 | 1,904 | |
Acquired Loans [Member] | Non Accrual Loans [Member] | Commercial Real Estate [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total past due and nonaccrual | 1,612 | 1,042 | |
Acquired Loans [Member] | Non Accrual Loans [Member] | Loans to individuals [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total past due and nonaccrual | 13 | 15 | |
Originated Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Financing Receivable Recorded Investment Equal To Or Greater Than Thirty Days Past Due | 32,720 | 30,100 | |
Financing Receivable, Not Past Due | 5,544,769 | 5,245,196 | |
Total | 5,577,489 | 5,275,296 | |
Originated Loans [Member] | Commercial, financial, agricultural and other [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Financing Receivable Recorded Investment Equal To Or Greater Than Thirty Days Past Due | 5,344 | 10,692 | |
Financing Receivable, Not Past Due | 1,167,726 | 1,090,255 | |
Total | 1,173,070 | 1,100,947 | |
Originated Loans [Member] | Real estate construction [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Financing Receivable Recorded Investment Equal To Or Greater Than Thirty Days Past Due | 0 | 212 | |
Financing Receivable, Not Past Due | 413,562 | 352,796 | |
Total | 413,562 | 353,008 | |
Originated Loans [Member] | Residential real estate [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Financing Receivable Recorded Investment Equal To Or Greater Than Thirty Days Past Due | 13,594 | 11,435 | |
Financing Receivable, Not Past Due | 1,366,892 | 1,302,210 | |
Total | 1,380,486 | 1,313,645 | |
Originated Loans [Member] | Commercial Real Estate [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Financing Receivable Recorded Investment Equal To Or Greater Than Thirty Days Past Due | 8,770 | 3,998 | |
Financing Receivable, Not Past Due | 1,938,763 | 1,918,351 | |
Total | 1,947,533 | 1,922,349 | |
Originated Loans [Member] | Loans to individuals [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Financing Receivable Recorded Investment Equal To Or Greater Than Thirty Days Past Due | 5,012 | 3,763 | |
Financing Receivable, Not Past Due | 657,826 | 581,584 | |
Total | 662,838 | 585,347 | |
Originated Loans [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total past due and nonaccrual | 8,682 | 6,893 | |
Originated Loans [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | Commercial, financial, agricultural and other [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total past due and nonaccrual | 165 | 130 | |
Originated Loans [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | Real estate construction [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total past due and nonaccrual | 0 | 212 | |
Originated Loans [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | Residential real estate [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total past due and nonaccrual | 4,756 | 3,697 | |
Originated Loans [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | Commercial Real Estate [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total past due and nonaccrual | 671 | 492 | |
Originated Loans [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | Loans to individuals [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total past due and nonaccrual | 3,090 | 2,362 | |
Originated Loans [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total past due and nonaccrual | 2,964 | 1,558 | |
Originated Loans [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | Commercial, financial, agricultural and other [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total past due and nonaccrual | 345 | 247 | |
Originated Loans [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | Real estate construction [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total past due and nonaccrual | 0 | 0 | |
Originated Loans [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | Residential real estate [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total past due and nonaccrual | 1,438 | 710 | |
Originated Loans [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | Commercial Real Estate [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total past due and nonaccrual | 406 | 69 | |
Originated Loans [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | Loans to individuals [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total past due and nonaccrual | 775 | 532 | |
Originated Loans [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total past due and nonaccrual | 1,909 | 1,544 | |
Originated Loans [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Commercial, financial, agricultural and other [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total past due and nonaccrual | 26 | 92 | |
Originated Loans [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Real estate construction [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total past due and nonaccrual | 0 | 0 | |
Originated Loans [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Residential real estate [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total past due and nonaccrual | 935 | 790 | |
Originated Loans [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Commercial Real Estate [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total past due and nonaccrual | 103 | 0 | |
Originated Loans [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Loans to individuals [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total past due and nonaccrual | 845 | 662 | |
Originated Loans [Member] | Non Accrual Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total past due and nonaccrual | 19,165 | 20,105 | |
Originated Loans [Member] | Non Accrual Loans [Member] | Commercial, financial, agricultural and other [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total past due and nonaccrual | 4,808 | 10,223 | |
Originated Loans [Member] | Non Accrual Loans [Member] | Real estate construction [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total past due and nonaccrual | 0 | 0 | |
Originated Loans [Member] | Non Accrual Loans [Member] | Residential real estate [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total past due and nonaccrual | 6,465 | 6,238 | |
Originated Loans [Member] | Non Accrual Loans [Member] | Commercial Real Estate [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total past due and nonaccrual | 7,590 | 3,437 | |
Originated Loans [Member] | Non Accrual Loans [Member] | Loans to individuals [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total past due and nonaccrual | $ 302 | $ 207 |
Loans and Allowance for Credi_7
Loans and Allowance for Credit Losses - Recorded Investment and Unpaid Principal Balance for Impaired Loans with Associated Allowance (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | Dec. 31, 2018 | |
Acquired Loans [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Impaired Financing Receivable, Average Recorded Investment | $ 7,481 | $ 4,585 | $ 5,031 | $ 3,614 | |
Impaired Financing Receivable, Interest Income, Accrual Method | 1 | 12 | 24 | 13 | |
Related allowance | 19 | 19 | $ 131 | ||
Recorded investment | 8,289 | 8,289 | 3,292 | ||
Unpaid principal balance | 10,153 | 10,153 | 4,877 | ||
Acquired Loans [Member] | Commercial Loan [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Impaired Financing Receivable, Average Recorded Investment | 0 | 0 | 0 | 0 | |
Impaired Financing Receivable, Interest Income, Accrual Method | 0 | 0 | 0 | 0 | |
Related allowance | 0 | 0 | 131 | ||
Recorded investment | 0 | 0 | 131 | ||
Unpaid principal balance | 0 | 0 | 131 | ||
Acquired Loans [Member] | Commercial Financial Agricultural And Other With No Related Allowance [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Impaired Financing Receivable, Average Recorded Investment | 4,697 | 73 | 2,255 | 261 | |
Impaired Financing Receivable, Interest Income, Accrual Method | 0 | 10 | 0 | 10 | |
Recorded investment | 4,693 | 4,693 | 73 | ||
Unpaid principal balance | 4,717 | 4,717 | 73 | ||
Acquired Loans [Member] | Real Estate Construction With No Related Allowance [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Impaired Financing Receivable, Average Recorded Investment | 0 | 0 | 0 | 0 | |
Impaired Financing Receivable, Interest Income, Accrual Method | 0 | 0 | 0 | 0 | |
Recorded investment | 0 | 0 | 0 | ||
Unpaid principal balance | 0 | 0 | 0 | ||
Acquired Loans [Member] | Residential Real Estate With No Related Allowance [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Impaired Financing Receivable, Average Recorded Investment | 1,950 | 2,541 | 1,966 | 1,779 | |
Impaired Financing Receivable, Interest Income, Accrual Method | 1 | 2 | 6 | 3 | |
Recorded investment | 1,971 | 1,971 | 2,031 | ||
Unpaid principal balance | 2,413 | 2,413 | 2,604 | ||
Acquired Loans [Member] | Commercial Real Estate With No Related Allowance [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Impaired Financing Receivable, Average Recorded Investment | 666 | 1,955 | 636 | 1,558 | |
Impaired Financing Receivable, Interest Income, Accrual Method | 0 | 0 | 18 | 0 | |
Recorded investment | 1,459 | 1,459 | 1,042 | ||
Unpaid principal balance | 2,843 | 2,843 | 2,052 | ||
Acquired Loans [Member] | Loans To Individuals With No Related Allowance [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Impaired Financing Receivable, Average Recorded Investment | 13 | 16 | 14 | 16 | |
Impaired Financing Receivable, Interest Income, Accrual Method | 0 | 0 | 0 | 0 | |
Recorded investment | 13 | 13 | 15 | ||
Unpaid principal balance | 15 | 15 | 17 | ||
Acquired Loans [Member] | With No Related Allowance [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Impaired Financing Receivable, Average Recorded Investment | 7,326 | 4,585 | 4,871 | 3,614 | |
Impaired Financing Receivable, Interest Income, Accrual Method | 1 | 12 | 24 | 13 | |
Recorded investment | 8,136 | 8,136 | 3,161 | ||
Unpaid principal balance | 9,988 | 9,988 | 4,746 | ||
Acquired Loans [Member] | Real Estate Construction With Related Allowance [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Impaired Financing Receivable, Average Recorded Investment | 0 | 0 | 0 | 0 | |
Impaired Financing Receivable, Interest Income, Accrual Method | 0 | 0 | 0 | 0 | |
Related allowance | 0 | 0 | 0 | ||
Recorded investment | 0 | 0 | 0 | ||
Unpaid principal balance | 0 | 0 | 0 | ||
Acquired Loans [Member] | Residential Real Estate With Related Allowance [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Impaired Financing Receivable, Average Recorded Investment | 0 | 0 | 0 | 0 | |
Impaired Financing Receivable, Interest Income, Accrual Method | 0 | 0 | 0 | ||
Related allowance | 0 | 0 | 0 | ||
Recorded investment | 0 | 0 | 0 | ||
Unpaid principal balance | 0 | 0 | 0 | ||
Acquired Loans [Member] | Commercial Real Estate With Related Allowance [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Impaired Financing Receivable, Average Recorded Investment | 155 | 0 | 160 | 0 | |
Impaired Financing Receivable, Interest Income, Accrual Method | 0 | 0 | 0 | 0 | |
Related allowance | 19 | 19 | 0 | ||
Recorded investment | 153 | 153 | 0 | ||
Unpaid principal balance | 165 | 165 | 0 | ||
Acquired Loans [Member] | Loans To Individuals With Related Allowance [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Impaired Financing Receivable, Average Recorded Investment | 0 | 0 | 0 | 0 | |
Impaired Financing Receivable, Interest Income, Accrual Method | 0 | 0 | 0 | 0 | |
Related allowance | 0 | 0 | 0 | ||
Recorded investment | 0 | 0 | 0 | ||
Unpaid principal balance | 0 | 0 | 0 | ||
Acquired Loans [Member] | With Related Allowance [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Impaired Financing Receivable, Average Recorded Investment | 155 | 0 | 160 | 0 | |
Impaired Financing Receivable, Interest Income, Accrual Method | 0 | 0 | 0 | 0 | |
Related allowance | 19 | 19 | 131 | ||
Recorded investment | 153 | 153 | 131 | ||
Unpaid principal balance | 165 | 165 | 131 | ||
Originated Loans [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Impaired Financing Receivable, Average Recorded Investment | 27,987 | 38,659 | 26,858 | 44,729 | |
Impaired Financing Receivable, Interest Income, Accrual Method | 131 | 135 | 474 | 949 | |
Related allowance | 1,527 | 1,527 | 1,500 | ||
Recorded investment | 27,036 | 27,036 | 28,735 | ||
Unpaid principal balance | 36,530 | 36,530 | 38,787 | ||
Originated Loans [Member] | Commercial Loan [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Impaired Financing Receivable, Average Recorded Investment | 4,677 | 10,298 | 4,064 | 5,979 | |
Impaired Financing Receivable, Interest Income, Accrual Method | 8 | 4 | 36 | 16 | |
Related allowance | 1,054 | 1,054 | 797 | ||
Recorded investment | 4,644 | 4,644 | 3,042 | ||
Unpaid principal balance | 6,386 | 6,386 | 3,181 | ||
Originated Loans [Member] | Commercial Financial Agricultural And Other With No Related Allowance [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Impaired Financing Receivable, Average Recorded Investment | 1,902 | 5,697 | 2,129 | 17,838 | |
Impaired Financing Receivable, Interest Income, Accrual Method | 3 | 8 | 10 | 576 | |
Recorded investment | 1,638 | 1,638 | 8,735 | ||
Unpaid principal balance | 7,014 | 7,014 | 16,442 | ||
Originated Loans [Member] | Real Estate Construction With No Related Allowance [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Impaired Financing Receivable, Average Recorded Investment | 0 | 0 | 0 | 0 | |
Impaired Financing Receivable, Interest Income, Accrual Method | 0 | 0 | 0 | 0 | |
Recorded investment | 0 | 0 | 0 | ||
Unpaid principal balance | 0 | 0 | 0 | ||
Originated Loans [Member] | Residential Real Estate With No Related Allowance [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Impaired Financing Receivable, Average Recorded Investment | 10,254 | 10,627 | 10,751 | 10,639 | |
Impaired Financing Receivable, Interest Income, Accrual Method | 86 | 59 | 280 | 191 | |
Recorded investment | 9,760 | 9,760 | 10,726 | ||
Unpaid principal balance | 11,516 | 11,516 | 12,571 | ||
Originated Loans [Member] | Commercial Real Estate With No Related Allowance [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Impaired Financing Receivable, Average Recorded Investment | 3,582 | 6,810 | 3,854 | 7,632 | |
Impaired Financing Receivable, Interest Income, Accrual Method | 28 | 59 | 129 | 146 | |
Recorded investment | 3,274 | 3,274 | 3,599 | ||
Unpaid principal balance | 3,502 | 3,502 | 3,812 | ||
Originated Loans [Member] | Loans To Individuals With No Related Allowance [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Impaired Financing Receivable, Average Recorded Investment | 389 | 320 | 356 | 322 | |
Impaired Financing Receivable, Interest Income, Accrual Method | 4 | 2 | 11 | 6 | |
Recorded investment | 392 | 392 | 281 | ||
Unpaid principal balance | 593 | 593 | 408 | ||
Originated Loans [Member] | With No Related Allowance [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Impaired Financing Receivable, Average Recorded Investment | 16,127 | 23,454 | 17,090 | 36,431 | |
Impaired Financing Receivable, Interest Income, Accrual Method | 121 | 128 | 430 | 919 | |
Recorded investment | 15,064 | 15,064 | 23,341 | ||
Unpaid principal balance | 22,625 | 22,625 | 33,233 | ||
Originated Loans [Member] | Real Estate Construction With Related Allowance [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Impaired Financing Receivable, Average Recorded Investment | 0 | 0 | 0 | 0 | |
Impaired Financing Receivable, Interest Income, Accrual Method | 0 | 0 | 0 | 0 | |
Related allowance | 0 | 0 | 0 | ||
Recorded investment | 0 | 0 | 0 | ||
Unpaid principal balance | 0 | 0 | 0 | ||
Originated Loans [Member] | Residential Real Estate With Related Allowance [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Impaired Financing Receivable, Average Recorded Investment | 740 | 565 | 347 | 532 | |
Impaired Financing Receivable, Interest Income, Accrual Method | 1 | 2 | 6 | 11 | |
Related allowance | 4 | 4 | 107 | ||
Recorded investment | 920 | 920 | 486 | ||
Unpaid principal balance | 976 | 976 | 495 | ||
Originated Loans [Member] | Commercial Real Estate With Related Allowance [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Impaired Financing Receivable, Average Recorded Investment | 6,443 | 4,342 | 5,357 | 1,787 | |
Impaired Financing Receivable, Interest Income, Accrual Method | 1 | 1 | 2 | 3 | |
Related allowance | 469 | 469 | 596 | ||
Recorded investment | 6,408 | 6,408 | 1,866 | ||
Unpaid principal balance | 6,543 | 6,543 | 1,878 | ||
Originated Loans [Member] | Loans To Individuals With Related Allowance [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Impaired Financing Receivable, Average Recorded Investment | 0 | 0 | 0 | 0 | |
Impaired Financing Receivable, Interest Income, Accrual Method | 0 | 0 | 0 | 0 | |
Related allowance | 0 | 0 | 0 | ||
Recorded investment | 0 | 0 | 0 | ||
Unpaid principal balance | 0 | 0 | 0 | ||
Originated Loans [Member] | With Related Allowance [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Impaired Financing Receivable, Average Recorded Investment | 11,860 | 15,205 | 9,768 | 8,298 | |
Impaired Financing Receivable, Interest Income, Accrual Method | 10 | $ 7 | 44 | $ 30 | |
Related allowance | 1,527 | 1,527 | 1,500 | ||
Recorded investment | 11,972 | 11,972 | 5,394 | ||
Unpaid principal balance | $ 13,905 | $ 13,905 | $ 5,554 |
Loans and Allowance for Credi_8
Loans and Allowance for Credit Losses - Troubled Debt Restructured Loans and Commitments (Detail) - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 |
Financing Receivable, Troubled Debt Restructurings [Line Items] | ||
Financing Receivable, Troubled Debt Restructuring | $ 19,098 | $ 20,518 |
Financing Receivable, Troubled Debt Restructuring, Commitment to Lend | 191 | 1,087 |
Letter of Credit [Member] | ||
Financing Receivable, Troubled Debt Restructurings [Line Items] | ||
Financing Receivable, Troubled Debt Restructuring, Commitment to Lend | 60 | 60 |
Unused lines of Credit [Member] | ||
Financing Receivable, Troubled Debt Restructurings [Line Items] | ||
Financing Receivable, Troubled Debt Restructuring, Commitment to Lend | 131 | 1,027 |
Accrual Loans [Member] [Member] | ||
Financing Receivable, Troubled Debt Restructurings [Line Items] | ||
Financing Receivable, Troubled Debt Restructuring | 8,024 | 8,757 |
Non Accrual Loans [Member] | ||
Financing Receivable, Troubled Debt Restructurings [Line Items] | ||
Financing Receivable, Troubled Debt Restructuring | $ 11,074 | $ 11,761 |
Loans and Allowance for Credi_9
Loans and Allowance for Credit Losses - Troubled Debt Restructurings Identified During Period (Detail) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019USD ($)Contract | Sep. 30, 2018USD ($)Contract | Sep. 30, 2019USD ($)Contract | Sep. 30, 2018USD ($)Contract | |
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
Number of Contracts | Contract | 6 | 14 | 26 | 42 |
Total Pre-Modification Outstanding Recorded Investment | $ 217 | $ 482 | $ 7,381 | $ 10,600 |
Post- Modification Outstanding Recorded Investment | 215 | 452 | 6,917 | 9,547 |
Troubled Debt Restructuring [Policy Text Block] | $ 0 | $ 0 | $ 398 | $ 2,811 |
Commercial, financial, agricultural and other [Member] | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
Number of Contracts | Contract | 1 | 1 | 2 | 3 |
Total Pre-Modification Outstanding Recorded Investment | $ 95 | $ 74 | $ 156 | $ 8,324 |
Post- Modification Outstanding Recorded Investment | 96 | 74 | 157 | 7,393 |
Troubled Debt Restructuring [Policy Text Block] | $ 0 | $ 0 | $ 0 | $ 2,811 |
Residential real estate [Member] | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
Number of Contracts | Contract | 3 | 7 | 14 | 24 |
Total Pre-Modification Outstanding Recorded Investment | $ 85 | $ 365 | $ 1,008 | $ 1,189 |
Post- Modification Outstanding Recorded Investment | 85 | 338 | 933 | 1,108 |
Troubled Debt Restructuring [Policy Text Block] | $ 0 | $ 0 | $ 1 | $ 0 |
Commercial Real Estate [Member] | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
Number of Contracts | Contract | 3 | 2 | ||
Total Pre-Modification Outstanding Recorded Investment | $ 6,119 | $ 966 | ||
Post- Modification Outstanding Recorded Investment | 5,740 | 943 | ||
Troubled Debt Restructuring [Policy Text Block] | $ 397 | $ 0 | ||
Loans to individuals [Member] | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
Number of Contracts | Contract | 2 | 6 | 7 | 13 |
Total Pre-Modification Outstanding Recorded Investment | $ 37 | $ 43 | $ 98 | $ 121 |
Post- Modification Outstanding Recorded Investment | 34 | 40 | 87 | 103 |
Troubled Debt Restructuring [Policy Text Block] | 0 | 0 | 0 | 0 |
Extended Maturity [Member] | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
Total Pre-Modification Outstanding Recorded Investment | 0 | 139 | 17 | 159 |
Extended Maturity [Member] | Commercial, financial, agricultural and other [Member] | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
Total Pre-Modification Outstanding Recorded Investment | 0 | 74 | 0 | 74 |
Extended Maturity [Member] | Residential real estate [Member] | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
Total Pre-Modification Outstanding Recorded Investment | 0 | 65 | 17 | 85 |
Extended Maturity [Member] | Commercial Real Estate [Member] | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
Total Pre-Modification Outstanding Recorded Investment | 0 | 0 | ||
Extended Maturity [Member] | Loans to individuals [Member] | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
Total Pre-Modification Outstanding Recorded Investment | 0 | 0 | 0 | 0 |
Contractual Interest Rate Reduction [Member] | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
Total Pre-Modification Outstanding Recorded Investment | 32 | 96 | 149 | 222 |
Contractual Interest Rate Reduction [Member] | Commercial, financial, agricultural and other [Member] | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
Total Pre-Modification Outstanding Recorded Investment | 0 | 0 | 0 | 0 |
Contractual Interest Rate Reduction [Member] | Residential real estate [Member] | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
Total Pre-Modification Outstanding Recorded Investment | 32 | 70 | 149 | 145 |
Contractual Interest Rate Reduction [Member] | Commercial Real Estate [Member] | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
Total Pre-Modification Outstanding Recorded Investment | 0 | 0 | ||
Contractual Interest Rate Reduction [Member] | Loans to individuals [Member] | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
Total Pre-Modification Outstanding Recorded Investment | 0 | 26 | 0 | 77 |
Contractual Payment Modification [Member] | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
Total Pre-Modification Outstanding Recorded Investment | 185 | 247 | 7,215 | 10,219 |
Contractual Payment Modification [Member] | Commercial, financial, agricultural and other [Member] | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
Total Pre-Modification Outstanding Recorded Investment | 95 | 0 | 156 | 8,250 |
Contractual Payment Modification [Member] | Residential real estate [Member] | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
Total Pre-Modification Outstanding Recorded Investment | 53 | 230 | 842 | 959 |
Contractual Payment Modification [Member] | Commercial Real Estate [Member] | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
Total Pre-Modification Outstanding Recorded Investment | 6,119 | 966 | ||
Contractual Payment Modification [Member] | Loans to individuals [Member] | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
Total Pre-Modification Outstanding Recorded Investment | $ 37 | $ 17 | $ 98 | $ 44 |
Loans and Allowance for Cred_10
Loans and Allowance for Credit Losses - Troubled Debt Restructuring is 90 Days or More Past Due (Detail) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019USD ($)Contract | Sep. 30, 2018USD ($)Contract | Sep. 30, 2019USD ($)Contract | Sep. 30, 2018USD ($)Contract | |
Financing Receivable, Past Due [Line Items] | ||||
Financing Receivable, Troubled Debt Restructuring, Subsequent Default, Number of Contracts | Contract | 2 | 2 | 3 | 3 |
Financing Receivable, Troubled Debt Restructuring, Subsequent Default | $ | $ 49 | $ 57 | $ 70 | $ 329 |
Commercial, financial, agricultural and other [Member] | ||||
Financing Receivable, Past Due [Line Items] | ||||
Financing Receivable, Troubled Debt Restructuring, Subsequent Default, Number of Contracts | Contract | 0 | 1 | ||
Financing Receivable, Troubled Debt Restructuring, Subsequent Default | $ | $ 0 | $ 272 | ||
Residential real estate [Member] | ||||
Financing Receivable, Past Due [Line Items] | ||||
Financing Receivable, Troubled Debt Restructuring, Subsequent Default, Number of Contracts | Contract | 2 | 1 | 3 | 1 |
Financing Receivable, Troubled Debt Restructuring, Subsequent Default | $ | $ 49 | $ 49 | $ 70 | $ 49 |
Loans to individuals [Member] | ||||
Financing Receivable, Past Due [Line Items] | ||||
Financing Receivable, Troubled Debt Restructuring, Subsequent Default, Number of Contracts | Contract | 0 | 1 | 0 | 1 |
Financing Receivable, Troubled Debt Restructuring, Subsequent Default | $ | $ 0 | $ 8 | $ 0 | $ 8 |
Loans and Allowance for Cred_11
Loans and Allowance for Credit Losses - Allowance for Credit Losses (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Dec. 31, 2018 | Sep. 30, 2018 | |
Accounts Receivable, Allowance for Credit Loss [Roll Forward] | |||||||
Provision for credit losses | $ 2,708 | $ 2,961 | $ 9,638 | $ 11,032 | |||
Ending Balance | $ 50,035 | $ 50,746 | |||||
Ending balance: individually evaluated for impaired | 1,546 | 5,363 | |||||
Ending balance: collectively evaluated for impaired | 48,489 | 45,383 | |||||
Total | 6,099,561 | $ 5,774,139 | 5,662,782 | ||||
Ending balance: individually evaluated for impaired | 25,344 | 29,398 | |||||
Ending balance: collectively evaluated for impaired | 6,074,217 | 5,633,384 | |||||
Residential real estate [Member] | |||||||
Accounts Receivable, Allowance for Credit Loss [Roll Forward] | |||||||
Ending Balance | 3,917 | 3,657 | |||||
Total | 1,666,220 | 1,533,338 | |||||
Commercial Real Estate [Member] | |||||||
Accounts Receivable, Allowance for Credit Loss [Roll Forward] | |||||||
Ending Balance | 19,048 | 19,671 | |||||
Ending balance: individually evaluated for impaired | 488 | 1,722 | |||||
Ending balance: collectively evaluated for impaired | 18,560 | 17,949 | |||||
Total | 2,124,240 | 2,136,431 | |||||
Ending balance: individually evaluated for impaired | 10,825 | 12,012 | |||||
Ending balance: collectively evaluated for impaired | 2,113,415 | 2,124,419 | |||||
Commercial, financial, agricultural and other [Member] | |||||||
Accounts Receivable, Allowance for Credit Loss [Roll Forward] | |||||||
Ending Balance | 19,947 | 22,009 | |||||
Ending balance: individually evaluated for impaired | 1,054 | 3,474 | |||||
Ending balance: collectively evaluated for impaired | 18,893 | 18,535 | |||||
Total | 1,210,936 | 1,116,204 | |||||
Ending balance: individually evaluated for impaired | 10,417 | 12,864 | |||||
Ending balance: collectively evaluated for impaired | 1,200,519 | 1,103,340 | |||||
Real estate construction [Member] | |||||||
Accounts Receivable, Allowance for Credit Loss [Roll Forward] | |||||||
Ending Balance | 2,410 | 1,592 | |||||
Ending balance: individually evaluated for impaired | 0 | 0 | |||||
Ending balance: collectively evaluated for impaired | 2,410 | 1,592 | |||||
Total | 420,281 | 298,395 | |||||
Ending balance: individually evaluated for impaired | 0 | 0 | |||||
Ending balance: collectively evaluated for impaired | 420,281 | 298,395 | |||||
Residential real estate [Member] | |||||||
Accounts Receivable, Allowance for Credit Loss [Roll Forward] | |||||||
Ending balance: individually evaluated for impaired | 4 | 167 | |||||
Ending balance: collectively evaluated for impaired | 3,913 | 3,490 | |||||
Ending balance: individually evaluated for impaired | 4,102 | 4,522 | |||||
Ending balance: collectively evaluated for impaired | 1,662,118 | 1,528,816 | |||||
Loans to individuals [Member] | |||||||
Accounts Receivable, Allowance for Credit Loss [Roll Forward] | |||||||
Ending Balance | 4,713 | 3,817 | |||||
Ending balance: individually evaluated for impaired | 0 | 0 | |||||
Ending balance: collectively evaluated for impaired | 4,713 | 3,817 | |||||
Total | 677,884 | 578,414 | |||||
Ending balance: individually evaluated for impaired | 0 | 0 | |||||
Ending balance: collectively evaluated for impaired | 677,884 | 578,414 | |||||
Acquired Loans [Member] | |||||||
Accounts Receivable, Allowance for Credit Loss [Roll Forward] | |||||||
Beginning Balance | 65 | 156 | 178 | 46 | |||
Charge-offs | (1,428) | (13) | (2,032) | (165) | |||
Recoveries | 32 | 50 | 113 | 136 | |||
Provision for credit losses | 1,360 | (118) | 1,770 | 58 | |||
Ending Balance | 65 | 156 | 178 | 46 | 29 | 178 | 75 |
Total | 522,072 | 498,843 | |||||
Acquired Loans [Member] | Residential real estate [Member] | |||||||
Accounts Receivable, Allowance for Credit Loss [Roll Forward] | |||||||
Beginning Balance | 25 | 127 | 35 | 6 | |||
Charge-offs | 0 | (9) | (46) | (57) | |||
Recoveries | 11 | 25 | 46 | 75 | |||
Provision for credit losses | (35) | (96) | (34) | 23 | |||
Ending Balance | 25 | 127 | 35 | 6 | 1 | 35 | 47 |
Total | 285,734 | 248,760 | |||||
Acquired Loans [Member] | Commercial Real Estate [Member] | |||||||
Accounts Receivable, Allowance for Credit Loss [Roll Forward] | |||||||
Beginning Balance | 25 | 6 | 4 | 29 | |||
Charge-offs | (1,376) | 0 | (1,376) | 0 | |||
Recoveries | 0 | 0 | 0 | 0 | |||
Provision for credit losses | 1,372 | 2 | 1,393 | (21) | |||
Ending Balance | 25 | 6 | 4 | 29 | 21 | 4 | 8 |
Total | 176,707 | 201,195 | |||||
Acquired Loans [Member] | Commercial, financial, agricultural and other [Member] | |||||||
Accounts Receivable, Allowance for Credit Loss [Roll Forward] | |||||||
Beginning Balance | 15 | 23 | 139 | 11 | |||
Charge-offs | (49) | 0 | (601) | (93) | |||
Recoveries | 21 | 13 | 53 | 31 | |||
Provision for credit losses | 20 | (16) | 416 | 71 | |||
Ending Balance | 15 | 23 | 139 | 11 | 7 | 139 | 20 |
Total | 37,866 | 37,526 | |||||
Acquired Loans [Member] | Real estate construction [Member] | |||||||
Accounts Receivable, Allowance for Credit Loss [Roll Forward] | |||||||
Beginning Balance | 0 | 0 | 0 | 0 | |||
Charge-offs | 0 | 0 | 0 | 0 | |||
Recoveries | 0 | 0 | 0 | 6 | |||
Provision for credit losses | 0 | 0 | 0 | (6) | |||
Ending Balance | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Total | 6,719 | 5,970 | |||||
Acquired Loans [Member] | Loans to individuals [Member] | |||||||
Accounts Receivable, Allowance for Credit Loss [Roll Forward] | |||||||
Beginning Balance | 0 | 0 | 0 | 0 | |||
Charge-offs | (3) | (4) | (9) | (15) | |||
Recoveries | 0 | 12 | 14 | 24 | |||
Provision for credit losses | 3 | (8) | (5) | (9) | |||
Ending Balance | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Total | 15,046 | 5,392 | |||||
Originated Loans [Member] | |||||||
Accounts Receivable, Allowance for Credit Loss [Roll Forward] | |||||||
Beginning Balance | 50,996 | 51,158 | 47,586 | 48,252 | |||
Charge-offs | (2,702) | (3,926) | (6,555) | (10,124) | |||
Recoveries | 364 | 360 | 1,107 | 1,569 | |||
Provision for credit losses | 1,348 | 3,079 | 7,868 | 10,974 | |||
Ending Balance | 50,996 | 51,158 | 47,586 | 48,252 | 50,006 | 47,586 | 50,671 |
Total | 5,577,489 | 5,275,296 | |||||
Originated Loans [Member] | Residential real estate [Member] | |||||||
Accounts Receivable, Allowance for Credit Loss [Roll Forward] | |||||||
Beginning Balance | 4,133 | 3,556 | 3,934 | 2,753 | |||
Charge-offs | (383) | (268) | (617) | (949) | |||
Recoveries | 6 | 26 | 190 | 222 | |||
Provision for credit losses | 160 | 296 | 409 | 1,584 | |||
Ending Balance | 4,133 | 3,556 | 3,934 | 2,753 | 3,916 | 3,934 | 3,610 |
Total | 1,380,486 | 1,313,645 | |||||
Originated Loans [Member] | Commercial Real Estate [Member] | |||||||
Accounts Receivable, Allowance for Credit Loss [Roll Forward] | |||||||
Beginning Balance | 19,287 | 17,731 | 18,382 | 17,328 | |||
Charge-offs | (6) | 0 | (305) | (2,411) | |||
Recoveries | 81 | 36 | 160 | 123 | |||
Provision for credit losses | (335) | 1,896 | 790 | 4,623 | |||
Ending Balance | 19,287 | 17,731 | 18,382 | 17,328 | 19,027 | 18,382 | 19,663 |
Total | 1,947,533 | 1,922,349 | |||||
Originated Loans [Member] | Commercial, financial, agricultural and other [Member] | |||||||
Accounts Receivable, Allowance for Credit Loss [Roll Forward] | |||||||
Beginning Balance | 20,678 | 25,082 | 19,235 | 23,418 | |||
Charge-offs | (742) | (2,582) | (1,584) | (3,443) | |||
Recoveries | 41 | 53 | 180 | 671 | |||
Provision for credit losses | (37) | (564) | 2,109 | 1,343 | |||
Ending Balance | 20,678 | 25,082 | 19,235 | 23,418 | 19,940 | 19,235 | 21,989 |
Total | 1,173,070 | 1,100,947 | |||||
Originated Loans [Member] | Real estate construction [Member] | |||||||
Accounts Receivable, Allowance for Credit Loss [Roll Forward] | |||||||
Beginning Balance | 2,491 | 1,262 | 2,002 | 1,349 | |||
Charge-offs | 0 | 0 | 0 | 0 | |||
Recoveries | 74 | 92 | 158 | 93 | |||
Provision for credit losses | (155) | 238 | 250 | 150 | |||
Ending Balance | 2,491 | 1,262 | 2,002 | 1,349 | 2,410 | 2,002 | 1,592 |
Total | 413,562 | 353,008 | |||||
Originated Loans [Member] | Loans to individuals [Member] | |||||||
Accounts Receivable, Allowance for Credit Loss [Roll Forward] | |||||||
Beginning Balance | 4,407 | 3,527 | 4,033 | 3,404 | |||
Charge-offs | (1,571) | (1,076) | (4,049) | (3,321) | |||
Recoveries | 162 | 153 | 419 | 460 | |||
Provision for credit losses | 1,715 | 1,213 | 4,310 | 3,274 | |||
Ending Balance | $ 4,407 | $ 3,527 | $ 4,033 | $ 3,404 | 4,713 | 4,033 | $ 3,817 |
Total | $ 662,838 | $ 585,347 |
Leases Operating Lease Assets a
Leases Operating Lease Assets and Liabilities (Details) $ in Thousands | 3 Months Ended | 9 Months Ended |
Sep. 30, 2019USD ($)Rate | Sep. 30, 2019USD ($)Rate | |
Leases [Abstract] | ||
Operating Lease, Right-of-Use Asset | $ 49,548 | $ 49,548 |
Operating Lease, Liability | 53,737 | 53,737 |
Operating Lease, Cost | $ 1,275 | $ 3,959 |
Operating Lease, Weighted Average Remaining Lease Term | 15 years 5 months 8 days | 15 years 5 months 8 days |
Operating Lease, Weighted Average Discount Rate, Percent | Rate | 3.42% | 3.42% |
Operating Leases, Rent Expense | $ 3,351 |
Leases Lease Liablity Maturity
Leases Lease Liablity Maturity (Details) $ in Thousands | Sep. 30, 2019USD ($) |
Leases [Abstract] | |
Operating Leases, Future Minimum Payments Due, Next Twelve Months | $ 5,223 |
Operating Leases, Future Minimum Payments, Due in Two Years | 5,084 |
Operating Leases, Future Minimum Payments, Due in Three Years | 4,989 |
Operating Leases, Future Minimum Payments, Due in Four Years | 4,954 |
Operating Leases, Future Minimum Payments, Due in Five Years | 4,824 |
Operating Leases, Future Minimum Payments, Due Thereafter | 45,583 |
Operating Leases, Future Minimum Payments Due | 70,657 |
Lessee, Operating Lease, Liability, Undiscounted Excess Amount | 16,920 |
Operating Lease, Liability | $ 53,737 |
Leases Topic 842 Additional Inf
Leases Topic 842 Additional Information (Details) (Details) $ in Thousands | Sep. 30, 2019USD ($) |
Operating Leased Assets [Line Items] | |
Operating Lease, Right-of-Use Asset | $ 49,548 |
Operating Lease, Liability | 53,737 |
Accounting Standards Update 2016-02 [Member] | |
Operating Leased Assets [Line Items] | |
Operating Lease, Right-of-Use Asset | 38,500 |
Operating Lease, Liability | $ 41,800 |
Income Taxes Income Taxes (Deta
Income Taxes Income Taxes (Details) - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 | Jan. 01, 2018 | Dec. 31, 2017 |
Unrecognized Tax Benefits | $ 0 | $ 0 | ||
Cumulative effect of adoption of ASU 2018-02 | $ 0 | |||
Retained Earnings [Member] | ||||
Cumulative effect of adoption of ASU 2018-02 | $ 1,344 | |||
Effect of ASU Adoption [Member] | Retained Earnings [Member] | ||||
Cumulative effect of adoption of ASU 2018-02 | $ 1,300 |
Fair Values of Assets and Lia_3
Fair Values of Assets and Liabilities - Quantitative Inputs and Assumptions Used in Level 3 Fair Value Measurements (Detail) - USD ($) | 9 Months Ended | |
Sep. 30, 2019 | Dec. 31, 2018 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available for sale, at fair value | $ 812,383,000 | $ 909,247,000 |
Other Investments | 11,561,000 | 32,126,000 |
Other Investments and Securities, at Cost | 1,700,000 | 1,700,000 |
Assets | 875,934,000 | 957,719,000 |
Impaired Loans [Member] | Discounted Cash Flow [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets | 2,539,000 | |
Impaired Loans [Member] | Discounted Cash Flow [Member] | Minimum [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets | 0 | |
Impaired Loans [Member] | Discounted Cash Flow [Member] | Maximum [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets | 0 | |
Impaired Loans [Member] | Reserve Study [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets | 932,000 | |
Impaired Loans [Member] | Reserve Study [Member] | Minimum [Member] | Gas per MCF [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair Value Inputs Monetary | 2.61 | |
Impaired Loans [Member] | Reserve Study [Member] | Minimum [Member] | Oil per BBL/d [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair Value Inputs Monetary | 47.09 | |
Impaired Loans [Member] | Reserve Study [Member] | Maximum [Member] | Gas per MCF [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair Value Inputs Monetary | 3.49 | |
Impaired Loans [Member] | Reserve Study [Member] | Maximum [Member] | Oil per BBL/d [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair Value Inputs Monetary | $ 53.14 | |
Impaired Loans [Member] | Reserve Study [Member] | Weighted average [Member] | Discount rates [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Discount Rate | 10.00% | |
Limited Partnership Investment [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets | $ 4,131,000 | |
Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available for sale, at fair value | 0 | 0 |
Other Investments | 1,670,000 | 1,670,000 |
Assets | 5,801,000 | 4,366,000 |
Fair Value, Nonrecurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Other Real Estate Owned Assets Fair Value | 1,981,000 | 4,035,000 |
Assets | 35,760,000 | 34,431,000 |
Fair Value, Nonrecurring [Member] | Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Other Real Estate Owned Assets Fair Value | 0 | 0 |
Assets | $ 13,372,000 | $ 15,320,000 |
Fair Values of Assets and Lia_4
Fair Values of Assets and Liabilities - Schedule of Changes in Level 3 Assets and Liabilities Measured at Fair Value on Recurring Basis (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||||
Balance, beginning of period | $ 4,982 | $ 3,967 | $ 4,366 | $ 27,459 |
Total gains or losses included in earnings | 245 | 0 | 198 | 8,102 |
Total gains or losses included in other comprehensive income | 0 | 0 | 0 | (118) |
Purchases | 574 | 272 | 1,237 | 426 |
Issuances | 0 | 0 | 0 | 0 |
Sales | 0 | 0 | 0 | (12,289) |
Settlements | 0 | (48) | 0 | (19,389) |
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Transfers Into Level 3 | 0 | 0 | 0 | 0 |
Balance, end of period | 5,801 | 4,191 | 5,801 | 4,191 |
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers out of Level 3 | 0 | 0 | 0 | 0 |
Pooled Trust Preferred Collateralized Debt Obligations [Member] | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||||
Balance, beginning of period | 23,646 | |||
Total gains or losses included in earnings | 8,102 | |||
Total gains or losses included in other comprehensive income | (118) | |||
Purchases | 0 | |||
Issuances | 0 | |||
Sales | (12,289) | |||
Settlements | (19,341) | |||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Transfers Into Level 3 | 0 | |||
Balance, end of period | 0 | 0 | ||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers out of Level 3 | 0 | |||
Equity Securities [Member] | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||||
Balance, beginning of period | 1,670 | 1,670 | 1,670 | 1,670 |
Total gains or losses included in earnings | 0 | 0 | 0 | 0 |
Total gains or losses included in other comprehensive income | 0 | 0 | 0 | 0 |
Purchases | 0 | 0 | 0 | 0 |
Issuances | 0 | 0 | 0 | 0 |
Sales | 0 | 0 | 0 | 0 |
Settlements | 0 | 0 | 0 | 0 |
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Transfers Into Level 3 | 0 | 0 | 0 | 0 |
Balance, end of period | 1,670 | 1,670 | 1,670 | 1,670 |
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers out of Level 3 | 0 | 0 | 0 | 0 |
Other Assets [Member] | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||||
Balance, beginning of period | 3,312 | 2,297 | 2,696 | 2,143 |
Total gains or losses included in earnings | 245 | 0 | 198 | 0 |
Total gains or losses included in other comprehensive income | 0 | 0 | 0 | 0 |
Purchases | 574 | 272 | 1,237 | 426 |
Issuances | 0 | 0 | 0 | 0 |
Sales | 0 | 0 | 0 | 0 |
Settlements | 0 | (48) | 0 | (48) |
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Transfers Into Level 3 | 0 | 0 | 0 | 0 |
Balance, end of period | 4,131 | 2,521 | 4,131 | 2,521 |
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers out of Level 3 | $ 0 | $ 0 | $ 0 | $ 0 |
Fair Values of Assets and Lia_5
Fair Values of Assets and Liabilities - Schedule of Assets and Liabilities Measured at Fair Value on Recurring Basis (Detail) - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Securities available for sale, at fair value | $ 812,383 | $ 909,247 | ||
Other investments | 11,561 | 32,126 | ||
Loans Held for Sale | 20,288 | 11,881 | ||
Other Assets | 31,702 | [1] | 4,465 | [2] |
Total Assets | 875,934 | 957,719 | ||
Other Liabilities | 27,784 | [1] | 2,081 | [2] |
Total Liabilities | 27,784 | 2,081 | ||
Limited Partnership Investment [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Total Assets | 4,131 | |||
US Government Agencies Residential Mortgage-backed Securities [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Securities available for sale, at fair value | 8,767 | 9,406 | ||
US Government Agency Debt Securities Commercial [Domain] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Securities available for sale, at fair value | 171,591 | 167,744 | ||
Residential Mortgage Backed Securities [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Securities available for sale, at fair value | 584,824 | 673,361 | ||
Obligations of U.S. Government-Sponsored Enterprises - Other Government-Sponsored Enterprises [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Securities available for sale, at fair value | 998 | 10,012 | ||
Obligations of States and Political Subdivisions [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Securities available for sale, at fair value | 22,168 | 27,712 | ||
Corporate Debt Securities [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Securities available for sale, at fair value | 24,035 | 21,012 | ||
Level 1 [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Securities available for sale, at fair value | 0 | 0 | ||
Other investments | 0 | 0 | ||
Loans Held for Sale | 0 | 0 | ||
Other Assets | 0 | [1] | 0 | [2] |
Total Assets | 0 | 0 | ||
Other Liabilities | 0 | [1] | 0 | [2] |
Total Liabilities | 0 | 0 | ||
Level 1 [Member] | US Government Agencies Residential Mortgage-backed Securities [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Securities available for sale, at fair value | 0 | 0 | ||
Level 1 [Member] | US Government Agency Debt Securities Commercial [Domain] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Securities available for sale, at fair value | 0 | 0 | ||
Level 1 [Member] | Residential Mortgage Backed Securities [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Securities available for sale, at fair value | 0 | 0 | ||
Level 1 [Member] | Obligations of U.S. Government-Sponsored Enterprises - Other Government-Sponsored Enterprises [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Securities available for sale, at fair value | 0 | 0 | ||
Level 1 [Member] | Obligations of States and Political Subdivisions [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Securities available for sale, at fair value | 0 | 0 | ||
Level 1 [Member] | Corporate Debt Securities [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Securities available for sale, at fair value | 0 | 0 | ||
Level 2 [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Securities available for sale, at fair value | 812,383 | 909,247 | ||
Other investments | 9,891 | 30,456 | ||
Loans Held for Sale | 20,288 | 11,881 | ||
Other Assets | 27,571 | [1] | 1,769 | [2] |
Total Assets | 870,133 | 953,353 | ||
Other Liabilities | 27,784 | [1] | 2,081 | [2] |
Total Liabilities | 27,784 | 2,081 | ||
Level 2 [Member] | US Government Agencies Residential Mortgage-backed Securities [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Securities available for sale, at fair value | 8,767 | 9,406 | ||
Level 2 [Member] | US Government Agency Debt Securities Commercial [Domain] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Securities available for sale, at fair value | 171,591 | 167,744 | ||
Level 2 [Member] | Residential Mortgage Backed Securities [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Securities available for sale, at fair value | 584,824 | 673,361 | ||
Level 2 [Member] | Obligations of U.S. Government-Sponsored Enterprises - Other Government-Sponsored Enterprises [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Securities available for sale, at fair value | 998 | 10,012 | ||
Level 2 [Member] | Obligations of States and Political Subdivisions [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Securities available for sale, at fair value | 22,168 | 27,712 | ||
Level 2 [Member] | Corporate Debt Securities [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Securities available for sale, at fair value | 24,035 | 21,012 | ||
Level 3 [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Securities available for sale, at fair value | 0 | 0 | ||
Other investments | 1,670 | 1,670 | ||
Loans Held for Sale | 0 | 0 | ||
Other Assets | 4,131 | [1] | 2,696 | [2] |
Total Assets | 5,801 | 4,366 | ||
Other Liabilities | 0 | [1] | 0 | [2] |
Total Liabilities | 0 | 0 | ||
Level 3 [Member] | US Government Agencies Residential Mortgage-backed Securities [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Securities available for sale, at fair value | 0 | 0 | ||
Level 3 [Member] | US Government Agency Debt Securities Commercial [Domain] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Securities available for sale, at fair value | 0 | 0 | ||
Level 3 [Member] | Residential Mortgage Backed Securities [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Securities available for sale, at fair value | 0 | 0 | ||
Level 3 [Member] | Obligations of U.S. Government-Sponsored Enterprises - Other Government-Sponsored Enterprises [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Securities available for sale, at fair value | 0 | 0 | ||
Level 3 [Member] | Obligations of States and Political Subdivisions [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Securities available for sale, at fair value | 0 | 0 | ||
Level 3 [Member] | Corporate Debt Securities [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Securities available for sale, at fair value | $ 0 | $ 0 | ||
[1] | Hedging and non-hedging interest rate derivatives and limited partnership investments | |||
[2] | on-hedging interest rate derivatives and limited partnership investments |
Fair Values of Assets and Lia_6
Fair Values of Assets and Liabilities - Additional Information (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | Dec. 31, 2018 | |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||
Available-for-sale Securities | $ 812,383 | $ 812,383 | $ 909,247 | ||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Transfers Into Level 3 | 0 | $ 0 | 0 | $ 0 | |
Impaired loans considered to be credit risk of non-collection | 100 | 100 | |||
Updated appraisal requirement floor | 250 | 250 | |||
Other real estate owned | 1,622 | 1,622 | 3,935 | ||
Financial instrument of credit risk | 200 | 200 | $ 200 | ||
Fair Value, Assets Measured on Recurring Basis, Gain (Loss) Included in Other Income, Assets and Liabilities Continue to be held | 0 | 0 | 0 | 0 | |
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers out of Level 3 | 0 | 0 | 0 | 0 | |
Total gains or losses included in earnings | 245 | 0 | 198 | 8,102 | |
Other Assets [Member] | |||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Transfers Into Level 3 | 0 | 0 | 0 | 0 | |
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers out of Level 3 | 0 | 0 | 0 | 0 | |
Total gains or losses included in earnings | $ 245 | $ 0 | $ 198 | $ 0 | |
Minimum [Member] | |||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||
Swap Rates Term Used to Determine Yield Curve | 3 years | ||||
Maximum [Member] | |||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||
Swap Rates Term Used to Determine Yield Curve | 30 years |
Fair Values of Assets and Lia_7
Fair Values of Assets and Liabilities - Schedule of Assets Measured on Non-Recurring Basis (Detail) - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Assets | $ 875,934 | $ 957,719 |
Fair Value, Nonrecurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Impaired loans | 33,779 | 30,396 |
Other real estate owned | 1,981 | 4,035 |
Total Assets | 35,760 | 34,431 |
Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Assets | 0 | 0 |
Level 1 [Member] | Fair Value, Nonrecurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Impaired loans | 0 | 0 |
Other real estate owned | 0 | 0 |
Total Assets | 0 | 0 |
Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Assets | 870,133 | 953,353 |
Level 2 [Member] | Fair Value, Nonrecurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Impaired loans | 20,407 | 15,076 |
Other real estate owned | 1,981 | 4,035 |
Total Assets | 22,388 | 19,111 |
Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Assets | 5,801 | 4,366 |
Level 3 [Member] | Fair Value, Nonrecurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Impaired loans | 13,372 | 15,320 |
Other real estate owned | 0 | 0 |
Total Assets | $ 13,372 | $ 15,320 |
Fair Values of Assets and Lia_8
Fair Values of Assets and Liabilities - Losses Realized on Assets Measured on Non-Recurring Basis (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Fair Value Disclosures [Abstract] | ||||
Impaired loans | $ (954) | $ (239) | $ (2,606) | $ (6,659) |
Other real estate owned | (42) | (128) | (51) | (544) |
Total losses | $ (996) | $ (367) | $ (2,657) | $ (7,203) |
Fair Values of Assets and Lia_9
Fair Values of Assets and Liabilities - Carrying Amounts and Fair Values of Financial Instruments (Detail) - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 | Sep. 30, 2018 |
Fair Value Measurements Of Financial Instruments [Line Items] | |||
Cash and due from banks | $ 112,241 | $ 95,934 | |
Interest-bearing deposits | 16,408 | 3,013 | |
Securities available for sale, at fair value | 812,383 | 909,247 | |
Debt Securities, Held-to-maturity | 357,890 | 393,855 | |
Other investments | 11,561 | 32,126 | |
Loans and Leases Receivable, Net of Deferred Income | 6,099,561 | 5,774,139 | $ 5,662,782 |
Deposits | 6,677,996 | 5,897,992 | |
Short-term borrowings | 83,735 | 721,823 | |
Subordinated debt | 170,409 | 170,288 | |
Long-term debt | 57,078 | 7,551 | |
Capital Lease Obligations | 6,917 | 7,217 | |
Level 1 [Member] | |||
Fair Value Measurements Of Financial Instruments [Line Items] | |||
Securities available for sale, at fair value | 0 | 0 | |
Other investments | 0 | 0 | |
Level 2 [Member] | |||
Fair Value Measurements Of Financial Instruments [Line Items] | |||
Securities available for sale, at fair value | 812,383 | 909,247 | |
Other investments | 9,891 | 30,456 | |
Level 3 [Member] | |||
Fair Value Measurements Of Financial Instruments [Line Items] | |||
Securities available for sale, at fair value | 0 | 0 | |
Other investments | 1,670 | 1,670 | |
Carrying Amount [Member] | |||
Fair Value Measurements Of Financial Instruments [Line Items] | |||
Cash and due from banks | 112,241 | 95,934 | |
Interest-bearing deposits | 16,408 | 3,013 | |
Securities available for sale, at fair value | 812,383 | 909,247 | |
Debt Securities, Held-to-maturity | 357,890 | 393,855 | |
Other investments | 11,561 | 32,126 | |
Loans Held for sale, Amount | 20,288 | 11,881 | |
Loans and Leases Receivable, Net of Deferred Income | 6,099,561 | 5,774,139 | |
Deposits | 6,677,996 | 5,897,992 | |
Short-term borrowings | 83,735 | 721,823 | |
Subordinated debt | 170,409 | 170,288 | |
Long-term debt | 57,078 | 7,551 | |
Capital Lease Obligations | 6,917 | 7,217 | |
Estimate of Fair Value Measurement [Member] | |||
Fair Value Measurements Of Financial Instruments [Line Items] | |||
Cash and due from banks | 112,241 | 95,934 | |
Interest-bearing deposits | 16,408 | 3,013 | |
Securities available for sale, at fair value | 812,383 | 909,247 | |
Debt Securities, Held-to-maturity | 360,224 | 383,993 | |
Other investments | 11,561 | 32,126 | |
Loans Held for sale, Amount | 20,288 | 11,881 | |
Loans and Leases Receivable, Net of Deferred Income | 6,213,529 | 5,821,791 | |
Deposits | 6,685,082 | 5,904,147 | |
Short-term borrowings | 83,698 | 721,532 | |
Subordinated debt | 169,601 | 168,067 | |
Long-term debt | 57,389 | 7,720 | |
Capital Lease Obligations | 6,917 | 7,217 | |
Estimate of Fair Value Measurement [Member] | Level 1 [Member] | |||
Fair Value Measurements Of Financial Instruments [Line Items] | |||
Cash and due from banks | 112,241 | 95,934 | |
Interest-bearing deposits | 16,408 | 3,013 | |
Securities available for sale, at fair value | 0 | 0 | |
Debt Securities, Held-to-maturity | 0 | 0 | |
Other investments | 0 | 0 | |
Loans Held for sale, Amount | 0 | 0 | |
Loans and Leases Receivable, Net of Deferred Income | 0 | 0 | |
Deposits | 0 | 0 | |
Short-term borrowings | 0 | 0 | |
Subordinated debt | 0 | 0 | |
Long-term debt | 0 | 0 | |
Capital Lease Obligations | 0 | 0 | |
Estimate of Fair Value Measurement [Member] | Level 2 [Member] | |||
Fair Value Measurements Of Financial Instruments [Line Items] | |||
Cash and due from banks | 0 | 0 | |
Interest-bearing deposits | 0 | 0 | |
Securities available for sale, at fair value | 812,383 | 909,247 | |
Debt Securities, Held-to-maturity | 360,224 | 383,993 | |
Other investments | 9,891 | 30,456 | |
Loans Held for sale, Amount | 20,288 | 11,881 | |
Loans and Leases Receivable, Net of Deferred Income | 20,407 | 15,076 | |
Deposits | 6,685,082 | 5,904,147 | |
Short-term borrowings | 83,698 | 721,532 | |
Subordinated debt | 0 | 0 | |
Long-term debt | 57,389 | 7,720 | |
Capital Lease Obligations | 6,917 | 7,217 | |
Estimate of Fair Value Measurement [Member] | Level 3 [Member] | |||
Fair Value Measurements Of Financial Instruments [Line Items] | |||
Cash and due from banks | 0 | 0 | |
Interest-bearing deposits | 0 | 0 | |
Securities available for sale, at fair value | 0 | 0 | |
Debt Securities, Held-to-maturity | 0 | 0 | |
Other investments | 1,670 | 1,670 | |
Loans Held for sale, Amount | 0 | 0 | |
Loans and Leases Receivable, Net of Deferred Income | 6,193,122 | 5,806,715 | |
Deposits | 0 | 0 | |
Short-term borrowings | 0 | 0 | |
Subordinated debt | 169,601 | 168,067 | |
Long-term debt | 0 | 0 | |
Capital Lease Obligations | $ 0 | $ 0 |
Derivatives - Additional Inform
Derivatives - Additional Information (Detail) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2019USD ($)Derivatives | Sep. 30, 2018USD ($) | Sep. 30, 2019USD ($)Derivatives | Sep. 30, 2018USD ($) | Dec. 31, 2018USD ($) | |
Risk participation Agreements [Line Items] | |||||
Derivative, Net Hedge Ineffectiveness Gain (Loss) | $ 0 | $ 221 | |||
Derivative, Gain (Loss) on Derivative, Net | $ (45) | 0 | $ (88) | $ 789 | |
Risk Participation Agreements Purchased [Domain] | |||||
Risk participation Agreements [Line Items] | |||||
Number of interest rate swaps | Derivatives | 35 | 35 | |||
Risk Participation Agreements Sold [Domain] | |||||
Risk participation Agreements [Line Items] | |||||
Number of interest rate swaps | Derivatives | 12 | 12 | |||
Forward Contracts [Member] | |||||
Risk participation Agreements [Line Items] | |||||
Derivative, Net Hedge Ineffectiveness Gain (Loss) | $ 0 | 125 | $ 0 | 96 | |
Derivative Liability, Cost Basis, Gross Asset | 23,400 | 23,400 | $ 6,900 | ||
Derivative Liability, Fair Value, Gross Asset | 24,800 | 24,800 | 7,600 | ||
Derivative Liability, Notional Amount, Gross Asset | 32,700 | 32,700 | 9,900 | ||
Derivative, Gain (Loss) on Derivative, Net | 12 | 500 | |||
Forward Contracts [Member] | Designated as Hedging Instrument [Member] | |||||
Risk participation Agreements [Line Items] | |||||
Derivative, Fair Value, Net | 48 | 48 | 170 | ||
Derivative, Notional Amount | 47,000 | 47,000 | 15,000 | ||
Derivative, Gain (Loss) on Derivative, Net | 201 | 0 | 122 | 0 | |
Interest Rate Contract [Member] | |||||
Risk participation Agreements [Line Items] | |||||
Derivative, Net Hedge Ineffectiveness Gain (Loss) | 0 | (432) | |||
Foreign Exchange [Member] | |||||
Risk participation Agreements [Line Items] | |||||
Derivative, Net Hedge Ineffectiveness Gain (Loss) | 3 | 2 | 4 | 10 | |
Foreign Exchange Contract [Member] | Designated as Hedging Instrument [Member] | |||||
Risk participation Agreements [Line Items] | |||||
Derivative, Fair Value, Net | (50) | (50) | 6 | ||
Derivative, Notional Amount | 4,874 | 4,874 | 1,927 | ||
Derivative Liability, Cost Basis, Gross Asset | 4,900 | 4,900 | 1,900 | ||
Derivative Liability, Fair Value, Gross Asset | 4,800 | 4,800 | 1,900 | ||
Interest Rate Swap [Member] | |||||
Risk participation Agreements [Line Items] | |||||
Derivative Instruments Designated As Hedging Instruments Interest Income | 0 | (193) | (118) | (424) | |
Derivative Instruments Designated As Hedging Instruments Interest Expense | (70) | 0 | (70) | 0 | |
Derivative, Net Hedge Ineffectiveness Gain (Loss) | 0 | $ 0 | 7 | $ 10 | |
Interest Rate Swap [Member] | Designated as Hedging Instrument [Member] | |||||
Risk participation Agreements [Line Items] | |||||
Derivative, Fair Value, Net | 124 | 124 | 133 | ||
Derivative, Notional Amount | 70,000 | 70,000 | $ 65,000 | ||
2024 [Member] | Interest Rate Swap [Member] | Designated as Hedging Instrument [Member] | |||||
Risk participation Agreements [Line Items] | |||||
Derivative, Notional Amount | 30,000 | 30,000 | |||
2026 [Member] | Interest Rate Swap [Member] | Designated as Hedging Instrument [Member] | |||||
Risk participation Agreements [Line Items] | |||||
Derivative, Notional Amount | $ 40,000 | $ 40,000 |
Derivatives - Credit Value Adju
Derivatives - Credit Value Adjustment Recorded Related to Notional Amount of Derivatives Outstanding (Detail) - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 |
Not Designated as Hedging Instrument [Member] | ||
Derivative [Line Items] | ||
Derivative, Fair Value, Net | $ (91) | $ (3) |
Interest Rate Swap [Member] | Not Designated as Hedging Instrument [Member] | ||
Derivative [Line Items] | ||
Derivative, Notional Amount | 480,872 | 411,645 |
Interest Rate Swap [Member] | Designated as Hedging Instrument [Member] | ||
Derivative [Line Items] | ||
Derivative, Fair Value, Net | (124) | (133) |
Derivative, Notional Amount | 70,000 | 65,000 |
Interest Rate Cap [Member] | Not Designated as Hedging Instrument [Member] | ||
Derivative [Line Items] | ||
Derivative, Notional Amount | 87,401 | 36,111 |
interest Rate Collar [Member] | Not Designated as Hedging Instrument [Member] | ||
Derivative [Line Items] | ||
Derivative, Notional Amount | 35,354 | 0 |
Credit Default Swap [Member] | Not Designated as Hedging Instrument [Member] | ||
Derivative [Line Items] | ||
Derivative, Notional Amount | 178,502 | 162,139 |
Interest Rate Contract [Member] | Not Designated as Hedging Instrument [Member] | ||
Derivative [Line Items] | ||
Derivative, Notional Amount | 32,720 | 9,900 |
Forward Contracts [Member] | Designated as Hedging Instrument [Member] | ||
Derivative [Line Items] | ||
Derivative, Fair Value, Net | (48) | (170) |
Derivative, Notional Amount | 47,000 | 15,000 |
Foreign Exchange Contract [Member] | Designated as Hedging Instrument [Member] | ||
Derivative [Line Items] | ||
Derivative, Fair Value, Net | 50 | (6) |
Derivative, Notional Amount | 4,874 | 1,927 |
Short [Member] | Credit Default Swap, Selling Protection [Member] | Not Designated as Hedging Instrument [Member] | ||
Derivative [Line Items] | ||
Derivative, Notional Amount | $ 70,016 | $ 59,315 |
Derivatives - Schedule of Chang
Derivatives - Schedule of Changes in Fair Value of Derivative Assets and Liabilities (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Derivative [Line Items] | ||||
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net | $ (33) | $ 0 | $ 420 | $ 789 |
Derivative, Net Hedge Ineffectiveness Gain (Loss) | 0 | 221 | ||
Derivative, Gain (Loss) on Derivative, Net | (45) | 0 | (88) | 789 |
Interest Rate Contract [Member] | ||||
Derivative [Line Items] | ||||
Derivative, Net Hedge Ineffectiveness Gain (Loss) | 0 | (432) | ||
Interest Rate Swap [Member] | ||||
Derivative [Line Items] | ||||
Derivative Instruments Designated As Hedging Instruments Interest Income | 0 | (193) | (118) | (424) |
Derivative Instruments Designated As Hedging Instruments Interest Expense | (70) | 0 | (70) | 0 |
Derivative, Net Hedge Ineffectiveness Gain (Loss) | 0 | 0 | 7 | 10 |
Forward Contracts [Member] | ||||
Derivative [Line Items] | ||||
Derivative, Net Hedge Ineffectiveness Gain (Loss) | 0 | 125 | 0 | 96 |
Derivative, Gain (Loss) on Derivative, Net | 12 | 500 | ||
Foreign Exchange [Member] | ||||
Derivative [Line Items] | ||||
Derivative, Net Hedge Ineffectiveness Gain (Loss) | 3 | 2 | 4 | 10 |
Designated as Hedging Instrument [Member] | Forward Contracts [Member] | ||||
Derivative [Line Items] | ||||
Derivative, Gain (Loss) on Derivative, Net | $ 201 | $ 0 | $ 122 | $ 0 |
Goodwill - Additional Informati
Goodwill - Additional Information (Detail) - USD ($) | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Dec. 31, 2018 | |
Goodwill Disclosure [Abstract] | |||
Goodwill | $ 303,632,000 | $ 274,202,000 | |
Impairment charges on goodwill | $ 0 | $ 0 |
Subordinated Debentures Schedul
Subordinated Debentures Schedule of Subordinated Debentures Outstanding (Details) - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 |
Debt Instrument [Line Items] | ||
Subordinated debentures | $ 170,409 | $ 170,288 |
First Commonwealth Bank 2028 [Member] | ||
Debt Instrument [Line Items] | ||
Subordinated debentures | 49,198 | 49,131 |
First Commonwealth Bank 2033 [Member] | ||
Debt Instrument [Line Items] | ||
Subordinated debentures | 49,044 | 48,990 |
First Commonwealth Capital Trust II [Member] | ||
Debt Instrument [Line Items] | ||
Subordinated debentures | 30,929 | 30,929 |
First Commonwealth Capital Trust III [Member] | ||
Debt Instrument [Line Items] | ||
Subordinated debentures | $ 41,238 | $ 41,238 |
Subordinated Debentures Subor_3
Subordinated Debentures Subordinated Debentures, Additional Information (Details) $ in Thousands | Sep. 30, 2019USD ($) |
First Commonwealth Capital Trust II [Member] | |
Debt Instrument [Line Items] | |
Debt Issuance Costs, Gross | $ 600 |
First Commonwealth Bank 2028 [Member] | |
Debt Instrument [Line Items] | |
Subordinated Debt Par Amount | 50,000 |
Debt Issuance Costs, Gross | 900 |
First Commonwealth Bank 2033 [Member] | |
Debt Instrument [Line Items] | |
Subordinated Debt Par Amount | 50,000 |
Debt Issuance Costs, Gross | 1,100 |
First Commonwealth Capital Trust III [Member] | |
Debt Instrument [Line Items] | |
Debt Issuance Costs, Gross | $ 500 |
Revenue Recognition Revenue R_2
Revenue Recognition Revenue Recognition (Details) - USD ($) $ in Millions | 9 Months Ended | |
Sep. 30, 2019 | Sep. 30, 2018 | |
Additional Information [Abstract] | ||
Management Fees, Incentive Revenue (Deprecated 2018-01-31) | $ 0.3 | |
Brokerage Commissions Revenue | $ 2.3 | $ 1.7 |
Revenue Recognition In-Scope an
Revenue Recognition In-Scope and Out-of-Scope Revenue Streams (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Trust income | $ 2,325 | $ 2,206 | $ 6,221 | $ 6,014 |
Service charges on deposit accounts | 4,954 | 4,589 | 13,792 | 13,418 |
Insurance and retail brokerage commissions | 1,912 | 1,872 | 5,887 | 5,560 |
Card-related interchange income | 5,629 | 5,044 | 15,800 | 14,929 |
Derivatives mark to market | (45) | 0 | (88) | 789 |
Gain on sale of other loans and assets | 970 | 643 | 3,831 | 3,548 |
Other income | 1,865 | 1,754 | 5,356 | 5,125 |
Noninterest Income | 22,179 | 19,757 | 62,957 | 68,108 |
In-Scope of Topic 606 [Member] | ||||
Trust income | 6,221 | 6,014 | ||
Service charges on deposit accounts | 13,792 | 13,418 | ||
Insurance and retail brokerage commissions | 5,887 | 5,560 | ||
Card-related interchange income | 15,800 | 14,929 | ||
Gain on sale of other loans and assets | 181 | 335 | 861 | 726 |
Other income | 937 | 928 | 2,789 | 2,800 |
Noninterest Income | 15,938 | 14,974 | 45,350 | 43,447 |
Out-Of-Scope of Topic 606 [Member] | ||||
Noninterest Income | $ 6,241 | $ 4,783 | $ 17,607 | $ 24,661 |