Cover Page
Cover Page - shares | 9 Months Ended | |
Sep. 30, 2020 | Nov. 05, 2020 | |
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, 2020 | |
Document Fiscal Year Focus | 2020 | |
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 | 25-1428528 | |
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 | 96,132,751 | |
Entity Shell Company | false | |
Entity Small Business | false | |
Entity Emerging Growth Company | false | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Document Transition Report | false | |
Document Quarterly Report | true | |
Entity Incorporation, State or Country Code | PA |
Income Taxes
Income Taxes | 9 Months Ended |
Sep. 30, 2020 | |
Income Tax Disclosure [Abstract] | |
Income Tax Disclosure | Income Taxes In accordance with FASB ASC Topic 740-10, “Accounting for Uncertainty in Income Taxes,” at September 30, 2020 and December 31, 2019, 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, 2017 are no longer open to examination by federal and state taxing authorities. |
Income Taxes (Details)
Income Taxes (Details) - USD ($) $ in Millions | Sep. 30, 2020 | Dec. 31, 2019 |
Income Tax Uncertainties [Abstract] | ||
Unrecognized Tax Benefits | $ 0 | $ 0 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Financial Condition (Unaudited) - USD ($) $ in Thousands | Sep. 30, 2020 | Dec. 31, 2019 |
Assets | ||
Cash and due from banks | $ 97,060 | $ 102,346 |
Interest-bearing bank deposits | 283,037 | 19,510 |
Securities available for sale, at fair value | 908,236 | 902,292 |
Securities held to maturity, at amortized cost (Fair value of $276,988 and $338,718 at September 30, 2020 and December 31,2019, respectively) | 268,638 | 337,123 |
Other investments | 12,966 | 16,761 |
Loans held for sale | 37,998 | 15,989 |
Loans: | ||
Portfolio loans | 6,949,716 | 6,189,148 |
Allowance for credit losses | (88,307) | (51,637) |
Net loans | 6,861,409 | 6,137,511 |
Premises and equipment, net | 128,041 | 137,268 |
Other real estate owned | 1,079 | 2,228 |
Goodwill | 303,328 | 303,328 |
Amortizing intangibles, net | 14,095 | 16,366 |
Bank owned life insurance | 224,660 | 220,723 |
Other assets | 148,819 | 97,328 |
Total assets | 9,289,366 | 8,308,773 |
Deposits (all domestic): | ||
Noninterest-bearing | 2,301,821 | 1,690,247 |
Interest-bearing | 5,402,086 | 4,987,368 |
Total deposits | 7,703,907 | 6,677,615 |
Short-term borrowings | 122,356 | 201,853 |
Subordinated debentures | 170,572 | 170,450 |
Other long-term debt | 56,424 | 56,917 |
Capital Lease Obligations | 6,494 | 6,815 |
Total long-term debt | 233,490 | 234,182 |
Other liabilities | 156,782 | 139,458 |
Total liabilities | 8,216,535 | 7,253,108 |
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, 2020 and December 31, 2019, and 96,924,781 and 98,311,840 shares outstanding at September 30, 2020 and December 31, 2019, respectively | 113,915 | 113,915 |
Additional paid-in capital | 494,682 | 493,737 |
Retained earnings | 592,704 | 577,348 |
Accumulated other comprehensive income, net | 19,111 | 5,579 |
Treasury stock (16,990,121 and 15,603,062 shares at September 30, 2020 and December 31, 2019, respectively) | (147,581) | (134,914) |
Total shareholders’ equity | 1,072,831 | 1,055,665 |
Total liabilities and shareholders’ equity | $ 9,289,366 | $ 8,308,773 |
Condensed Consolidated Statem_2
Condensed Consolidated Statements of Financial Condition (Unaudited) (Parenthetical) - USD ($) $ in Thousands | Sep. 30, 2020 | Dec. 31, 2019 |
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) | 96,924,781 | 98,518,668 |
Treasury stock, shares (in shares) | 16,990,121 | 15,396,234 |
Securities held to maturity, fair value | $ 276,988 | $ 338,718 |
Condensed Consolidated Statem_3
Condensed Consolidated Statements of Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Interest Income | ||||
Interest and fees on loans | $ 67,474 | $ 74,714 | $ 207,290 | $ 218,524 |
Interest and dividends on investments: | ||||
Taxable interest | 5,598 | 6,995 | 19,064 | 22,871 |
Interest exempt from federal income taxes | 268 | 398 | 850 | 1,231 |
Dividends | 159 | 387 | 536 | 1,419 |
Interest on bank deposits | 94 | 81 | 163 | 181 |
Total interest income | 73,593 | 82,575 | 227,903 | 244,226 |
Interest Expense | ||||
Interest on deposits | 4,621 | 9,846 | 18,756 | 27,298 |
Interest on short-term borrowings | 35 | 1,620 | 670 | 8,075 |
Interest on subordinated debentures | 2,146 | 2,232 | 6,434 | 6,930 |
Interest on other long-term debt | 356 | 362 | 1,065 | 656 |
Interest on lease obligations | 66 | 70 | 199 | 210 |
Total interest expense | 7,224 | 14,130 | 27,124 | 43,169 |
Net Interest Income | 66,369 | 68,445 | 200,779 | 201,057 |
Provision for credit losses | 11,212 | 2,708 | 49,038 | 9,638 |
Net Interest Income after Provision for Credit Losses | 55,157 | 65,737 | 151,741 | 191,419 |
Noninterest Income | ||||
Net securities gains | 20 | 9 | 47 | 15 |
Trust income | 2,554 | 2,325 | 6,774 | 6,221 |
Service charges on deposit accounts | 4,035 | 4,954 | 12,066 | 13,792 |
Insurance and retail brokerage commissions | 2,156 | 1,912 | 5,982 | 5,887 |
Income from bank owned life insurance | 1,547 | 1,540 | 4,963 | 4,408 |
Gain on sale of mortgage loans | 6,437 | 2,599 | 13,226 | 6,101 |
Gain on sale of other loans and assets | 1,871 | 970 | 3,151 | 3,831 |
Card-related interchange income | 6,441 | 5,629 | 17,589 | 15,800 |
Derivatives mark to market | (160) | (45) | (2,122) | (88) |
Swap fee income | 41 | 421 | 864 | 1,634 |
Other income | 1,827 | 1,865 | 5,314 | 5,356 |
Total noninterest income | 26,769 | 22,179 | 67,854 | 62,957 |
Noninterest Expense | ||||
Salaries and employee benefits | 28,823 | 28,674 | 87,573 | 83,205 |
Net occupancy expense | 4,609 | 4,521 | 13,979 | 13,878 |
Furniture and equipment expense | 4,033 | 3,904 | 11,468 | 11,396 |
Data processing expense | 2,741 | 2,825 | 7,804 | 7,988 |
Advertising and promotion | 1,115 | 1,140 | 3,800 | 3,611 |
Intangible amortization | 1,254 | 1,189 | 3,246 | 3,365 |
Intangible amortization | 939 | 865 | 2,792 | 2,364 |
Other professional fees and services | 937 | 969 | 2,755 | 2,755 |
FDIC insurance | 876 | 35 | 1,637 | 1,164 |
Loss on sale or write-down of assets | 63 | 152 | 416 | 1,398 |
Litigation and operational losses | 329 | 308 | 1,038 | 1,264 |
Merger and acquisition related | 0 | 3,738 | 0 | 3,772 |
COVID-19 Related Expenses | 125 | 0 | 567 | 0 |
Voluntary retirement plan expenses | 3,304 | 0 | 3,304 | 0 |
Branch consolidation expenses | 2,544 | 0 | 2,544 | 0 |
Other Noninterest Expense | 6,555 | 6,577 | 18,351 | 20,696 |
Total noninterest expense | 58,247 | 54,897 | 161,274 | 156,856 |
Income Before Income Taxes | 23,679 | 33,019 | 58,321 | 97,520 |
Income tax provision | 4,493 | 6,375 | 10,557 | 19,007 |
Net Income | $ 19,186 | $ 26,644 | $ 47,764 | $ 78,513 |
Average Shares Outstanding (in shares) | 97,917,096 | 98,267,229 | 97,990,749 | 98,363,539 |
Average Shares Outstanding Assuming Dilution (in shares) | 98,160,143 | 98,547,898 | 98,224,506 | 98,615,787 |
Per Share Data: | ||||
Basic Earnings per Share (in dollars per share) | $ 0.20 | $ 0.27 | $ 0.49 | $ 0.80 |
Diluted Earnings per Share (in dollars per share) | 0.20 | 0.27 | 0.49 | 0.80 |
Cash Dividends Declared per Common Share (in dollars per share) | $ 0.11 | $ 0.10 | $ 0.33 | $ 0.30 |
Condensed Consolidated Statem_4
Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Net Income | $ 19,186 | $ 26,644 | $ 47,764 | $ 78,513 |
Other comprehensive (loss) income, before tax benefit (expense): | ||||
Unrealized holding (losses) gains on securities arising during the period | (3,256) | 3,152 | 22,069 | 22,055 |
Less: reclassification adjustment for gains on securities included in net income | (20) | (9) | (47) | (15) |
Unrealized holding gains (losses) on derivatives arising during the period | 225 | (124) | (4,892) | 9 |
Less: reclassification adjustment for losses on derivatives included in net income | 0 | 0 | 0 | 0 |
Total other comprehensive (loss) income, before tax benefit (expense) | (3,051) | 3,019 | 17,130 | 22,049 |
Income tax benefit (expense) related to items of other comprehensive (loss) income | 640 | (635) | (3,598) | (4,631) |
Total other comprehensive (loss) income | (2,411) | 2,384 | 13,532 | 17,418 |
Comprehensive Income | $ 16,775 | $ 29,028 | $ 61,296 | $ 95,931 |
Condensed Consolidated Statem_5
Condensed Consolidated Statements of Changes in Shareholders' Equity (Unaudited) - USD ($) $ in Thousands | Total | Previously Reported [Member] | Common Stock [Member] | Common Stock [Member]Previously Reported [Member] | Additional Paid-in Capital [Member] | Additional Paid-in Capital [Member]Previously Reported [Member] | Retained Earnings [Member] | Retained Earnings [Member]Previously Reported [Member] | Accumulated Other Comprehensive Income (Loss), net [Member] | Accumulated Other Comprehensive Income (Loss), net [Member]Previously Reported [Member] | Treasury Stock [Member] | Treasury Stock [Member]Previously Reported [Member] |
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 | |||||||||||
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 | |||||||||||
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 | |||||||||||
Beginning balance at Dec. 31, 2019 | $ 1,055,665 | $ 113,915 | 493,737 | 577,348 | 5,579 | (134,914) | ||||||
Beginning balance, shares at Dec. 31, 2019 | 98,518,668 | 98,311,840 | ||||||||||
Net Income | $ 47,764 | 47,764 | ||||||||||
Other comprehensive income (loss) | 13,532 | 13,532 | ||||||||||
Dividends, declared (USD per share) | (32,408) | (32,408) | ||||||||||
Treasury stock acquired | (14,373) | (14,373) | ||||||||||
Treasury stock acquired, shares | (1,638,812) | |||||||||||
Stock Issued During Period, Value, Treasury Stock Reissued | 1,816 | 458 | 0 | 1,358 | ||||||||
Stock Issued During Period, Shares, Treasury Stock Reissued | 158,453 | |||||||||||
Restricted stock | 835 | $ 0 | 487 | 0 | 348 | |||||||
Restricted stock, shares | 93,300 | |||||||||||
Stock Issued During Period, Value, Treasury Stock Reissued | 1,594 | |||||||||||
Ending balance at Sep. 30, 2020 | $ 1,072,831 | $ 113,915 | 494,682 | 592,704 | 19,111 | (147,581) | ||||||
Ending balance, shares at Sep. 30, 2020 | 96,924,781 | 96,924,781 | ||||||||||
Beginning balance at Jun. 30, 2020 | $ 1,075,705 | $ 113,915 | 494,682 | 584,312 | 21,522 | (138,726) | ||||||
Beginning balance, shares at Jun. 30, 2020 | 98,132,697 | |||||||||||
Net Income | 19,186 | 19,186 | ||||||||||
Other comprehensive income (loss) | (2,411) | (2,411) | ||||||||||
Dividends, declared (USD per share) | (10,794) | (10,794) | ||||||||||
Treasury stock acquired | (9,153) | (9,153) | ||||||||||
Treasury stock acquired, shares | (1,207,916) | |||||||||||
Stock Issued During Period, Value, Treasury Stock Reissued | 0 | 0 | 0 | 0 | ||||||||
Stock Issued During Period, Shares, Treasury Stock Reissued | 0 | |||||||||||
Restricted stock | 298 | $ 0 | 0 | 0 | 298 | |||||||
Restricted stock, shares | 0 | |||||||||||
Ending balance at Sep. 30, 2020 | $ 1,072,831 | $ 113,915 | $ 494,682 | $ 592,704 | $ 19,111 | $ (147,581) | ||||||
Ending balance, shares at Sep. 30, 2020 | 96,924,781 | 96,924,781 |
Condensed Consolidated Statem_6
Condensed Consolidated Statements of Changes in Shareholders' Equity (Unaudited) (Parenthetical) - $ / shares | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Statement of Stockholders' Equity [Abstract] | ||||
Cash Dividends Declared per Common Share (in dollars per share) | $ 0.11 | $ 0.10 | $ 0.33 | $ 0.30 |
Condensed Consolidated Statem_7
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2020 | Sep. 30, 2019 | |
Operating Activities | ||
Net Income | $ 47,764 | $ 78,513 |
Provision for credit losses | 49,038 | 9,638 |
Deferred tax (benefit) expense | (5,059) | 2,613 |
Depreciation and amortization | 8,676 | 7,777 |
Net gains on securities and other assets | (12,608) | (8,545) |
Net amortization of premiums and discounts on securities | 4,662 | 2,871 |
Income from increase in cash surrender value of bank owned life insurance | (4,699) | (4,405) |
Increase in interest receivable | (13,105) | (110) |
Mortgage loans originated for sale | (287,196) | (178,911) |
Proceeds from sale of mortgage loans | 281,424 | 173,961 |
Increase in interest payable | 575 | 1,180 |
Decrease in income taxes payable | (536) | (556) |
Increase (Decrease) in Other Operating Assets and Liabilities, Net | (1,888) | 7,193 |
Net cash provided by operating activities | 70,824 | 76,833 |
Investing Activities | ||
Proceeds from sale and maturity of held-to-maturity securities | 76,841 | 35,163 |
Payments to Acquire Held-to-maturity Securities | (9,621) | (200) |
Proceeds from Sale of Available-for-sale Securities | 0 | 0 |
Proceeds from maturities and redemptions of available-for-sale securities | 272,544 | 134,453 |
Purchases of available-for-sale securities | (282,461) | (17,401) |
Purchases of FHLB stock | (21,903) | (29,538) |
Proceeds from the redemption of FHLB stock | 25,698 | 50,103 |
Proceeds from Life Insurance Policy | 1,147 | 0 |
Proceeds from Sale of Loans Receivable | 25,534 | 28,098 |
Proceeds from sale of other assets | 4,875 | 5,390 |
Acquisition, net of cash acquired | 0 | 332,465 |
Net increase in loans | (798,377) | (256,168) |
Payments for Purchase of Other Assets | (6,570) | (14,060) |
Net cash (used in) provided by investing activities | (712,293) | 268,305 |
Financing Activities | ||
Net decrease in federal funds purchased | 0 | (4,000) |
Net decrease in other short-term borrowings | (79,497) | (634,088) |
Net increase in deposits | 1,026,580 | 308,976 |
Repayments of other long-term debt | (493) | (473) |
Repayments of Long-term Capital Lease Obligations | 321 | 300 |
Proceeds from Issuance of Long-term Debt | 0 | 50,000 |
Dividends paid | (32,408) | (29,562) |
Proceeds from reissuance of treasury stock | 222 | 211 |
Purchase of treasury stock | (14,373) | (6,200) |
Net cash provided by (used in) financing activities | 899,710 | (315,436) |
Net increase in cash and cash equivalents | 258,241 | 29,702 |
Cash and cash equivalents at January 1 | 121,856 | 98,947 |
Cash and cash equivalents at September 30 | $ 380,097 | $ 128,649 |
Basis of Presentation
Basis of Presentation | 9 Months Ended |
Sep. 30, 2020 | |
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. |
Supplemental Comprehensive Inco
Supplemental Comprehensive Income Disclosures | 9 Months Ended |
Sep. 30, 2020 | |
Supplemental Comprehensive Income Disclosures [Abstract] | |
Reclassification out of Accumulated Other Comprehensive Income | The following table identifies the related tax effects allocated to each component of other comprehensive income (“OCI”) in the unaudited 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 unaudited Consolidated Statements of Income. For the Nine Months Ended September 30, 2020 2019 Pretax Amount Tax (Expense) Benefit Net of Tax Amount Pretax Amount Tax (Expense) Benefit Net of Tax Amount (dollars in thousands) Unrealized gains on securities: Unrealized holding gains on securities arising during the period $ 22,069 $ (4,635) $ 17,434 $ 22,055 $ (4,632) $ 17,423 Reclassification adjustment for gains on securities included in net income (47) 10 (37) (15) 3 (12) Total unrealized gains on securities 22,022 (4,625) 17,397 22,040 (4,629) 17,411 Unrealized (losses) gains on derivatives: Unrealized holding (losses) gains on derivatives arising during the period (4,892) 1,027 (3,865) 9 (2) 7 Reclassification adjustment for losses on derivatives included in net income — — — — — — Total unrealized (losses) gains on derivatives (4,892) 1,027 (3,865) 9 (2) 7 Total other comprehensive income $ 17,130 $ (3,598) $ 13,532 $ 22,049 $ (4,631) $ 17,418 For the Three Months Ended September 30, 2020 2019 Pretax Amount Tax (Expense) Benefit Net of Tax Amount Pretax Amount Tax (Expense) Benefit Net of Tax Amount (dollars in thousands) Unrealized (losses) gains on securities: Unrealized holding (losses) gains on securities arising during the period $ (3,256) $ 684 $ (2,572) $ 3,152 $ (663) $ 2,489 Reclassification adjustment for gains on securities included in net income (20) 4 (16) (9) 2 (7) Total unrealized (losses) gains on securities (3,276) 688 (2,588) 3,143 (661) 2,482 Unrealized gains (losses) on derivatives: Unrealized holding gains (losses) on derivatives arising during the period 225 (48) 177 (124) 26 (98) Reclassification adjustment for losses on derivatives included in net income — — — — — — Total unrealized gains (losses) on derivatives 225 (48) 177 (124) 26 (98) Total other comprehensive (loss) income $ (3,051) $ 640 $ (2,411) $ 3,019 $ (635) $ 2,384 |
Schedule of Accumulated Other Comprehensive Income (Loss) | The following table details the change in components of OCI for the nine months ended September 30: 2020 2019 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 $ 4,580 $ 365 $ 634 $ 5,579 $ (11,697) $ 461 $ (105) $ (11,341) Other comprehensive income before reclassification adjustment 17,434 — (3,865) 13,569 17,423 — 7 17,430 Amounts reclassified from accumulated other comprehensive (loss) income (37) — — (37) (12) — — (12) Net other comprehensive income during the period 17,397 — (3,865) 13,532 17,411 — 7 17,418 Balance at September 30 $ 21,977 $ 365 $ (3,231) $ 19,111 $ 5,714 $ 461 $ (98) $ 6,077 The following table details the change in components of OCI for the three months ended September 30: 2020 2019 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 $ 24,565 $ 365 $ (3,408) $ 21,522 $ 3,232 $ 461 $ — $ 3,693 Other comprehensive (loss) income before reclassification adjustment (2,572) — 177 (2,395) 2,489 — (98) 2,391 Amounts reclassified from accumulated other comprehensive (loss) income (16) — — (16) (7) — — (7) Net other comprehensive (loss) income during the period (2,588) — 177 (2,411) 2,482 — (98) 2,384 Balance at September 30 $ 21,977 $ 365 $ (3,231) $ 19,111 $ 5,714 $ 461 $ (98) $ 6,077 |
Comprehensive Income (Loss) Note | Supplemental Comprehensive Income Disclosures The following table identifies the related tax effects allocated to each component of other comprehensive income (“OCI”) in the unaudited 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 unaudited Consolidated Statements of Income. For the Nine Months Ended September 30, 2020 2019 Pretax Amount Tax (Expense) Benefit Net of Tax Amount Pretax Amount Tax (Expense) Benefit Net of Tax Amount (dollars in thousands) Unrealized gains on securities: Unrealized holding gains on securities arising during the period $ 22,069 $ (4,635) $ 17,434 $ 22,055 $ (4,632) $ 17,423 Reclassification adjustment for gains on securities included in net income (47) 10 (37) (15) 3 (12) Total unrealized gains on securities 22,022 (4,625) 17,397 22,040 (4,629) 17,411 Unrealized (losses) gains on derivatives: Unrealized holding (losses) gains on derivatives arising during the period (4,892) 1,027 (3,865) 9 (2) 7 Reclassification adjustment for losses on derivatives included in net income — — — — — — Total unrealized (losses) gains on derivatives (4,892) 1,027 (3,865) 9 (2) 7 Total other comprehensive income $ 17,130 $ (3,598) $ 13,532 $ 22,049 $ (4,631) $ 17,418 For the Three Months Ended September 30, 2020 2019 Pretax Amount Tax (Expense) Benefit Net of Tax Amount Pretax Amount Tax (Expense) Benefit Net of Tax Amount (dollars in thousands) Unrealized (losses) gains on securities: Unrealized holding (losses) gains on securities arising during the period $ (3,256) $ 684 $ (2,572) $ 3,152 $ (663) $ 2,489 Reclassification adjustment for gains on securities included in net income (20) 4 (16) (9) 2 (7) Total unrealized (losses) gains on securities (3,276) 688 (2,588) 3,143 (661) 2,482 Unrealized gains (losses) on derivatives: Unrealized holding gains (losses) on derivatives arising during the period 225 (48) 177 (124) 26 (98) Reclassification adjustment for losses on derivatives included in net income — — — — — — Total unrealized gains (losses) on derivatives 225 (48) 177 (124) 26 (98) Total other comprehensive (loss) income $ (3,051) $ 640 $ (2,411) $ 3,019 $ (635) $ 2,384 The following table details the change in components of OCI for the nine months ended September 30: 2020 2019 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 $ 4,580 $ 365 $ 634 $ 5,579 $ (11,697) $ 461 $ (105) $ (11,341) Other comprehensive income before reclassification adjustment 17,434 — (3,865) 13,569 17,423 — 7 17,430 Amounts reclassified from accumulated other comprehensive (loss) income (37) — — (37) (12) — — (12) Net other comprehensive income during the period 17,397 — (3,865) 13,532 17,411 — 7 17,418 Balance at September 30 $ 21,977 $ 365 $ (3,231) $ 19,111 $ 5,714 $ 461 $ (98) $ 6,077 The following table details the change in components of OCI for the three months ended September 30: 2020 2019 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 $ 24,565 $ 365 $ (3,408) $ 21,522 $ 3,232 $ 461 $ — $ 3,693 Other comprehensive (loss) income before reclassification adjustment (2,572) — 177 (2,395) 2,489 — (98) 2,391 Amounts reclassified from accumulated other comprehensive (loss) income (16) — — (16) (7) — — (7) Net other comprehensive (loss) income during the period (2,588) — 177 (2,411) 2,482 — (98) 2,384 Balance at September 30 $ 21,977 $ 365 $ (3,231) $ 19,111 $ 5,714 $ 461 $ (98) $ 6,077 |
Supplemental Cash Flow Disclosu
Supplemental Cash Flow Disclosures | 9 Months Ended |
Sep. 30, 2020 | |
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: 2020 2019 (dollars in thousands) Cash paid during the period for: Interest $ 26,687 $ 42,195 Income taxes 16,207 16,994 Non-cash investing and financing activities: Loans transferred to other real estate owned and repossessed assets 3,206 2,754 Loans transferred from held to maturity to held for sale 27,391 21,620 Loans transferred from available for sale to held to maturity 1,908 — Gross increase in market value adjustment to securities available for sale 22,022 22,041 Gross (decrease) increase in market value adjustment to derivatives (4,892) 9 Investments committed to purchase, not settled 22,644 — Noncash treasury stock reissuance 1,594 2,531 Net (liabilities) assets acquired through acquisition — (361,895) Proceeds from death benefit on bank owned life insurance not received (384) 486 |
Supplemental Cash Flow Disclo_2
Supplemental Cash Flow Disclosures | 9 Months Ended |
Sep. 30, 2020 | |
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: 2020 2019 (dollars in thousands) Cash paid during the period for: Interest $ 26,687 $ 42,195 Income taxes 16,207 16,994 Non-cash investing and financing activities: Loans transferred to other real estate owned and repossessed assets 3,206 2,754 Loans transferred from held to maturity to held for sale 27,391 21,620 Loans transferred from available for sale to held to maturity 1,908 — Gross increase in market value adjustment to securities available for sale 22,022 22,041 Gross (decrease) increase in market value adjustment to derivatives (4,892) 9 Investments committed to purchase, not settled 22,644 — Noncash treasury stock reissuance 1,594 2,531 Net (liabilities) assets acquired through acquisition — (361,895) Proceeds from death benefit on bank owned life insurance not received (384) 486 |
Reclassification of Accumulated
Reclassification of Accumulated Other Comprehensive Income - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Supplemental Comprehensive Income Disclosures [Abstract] | ||||
Unrealized holding gains on securities arising during the period | $ (3,256) | $ 3,152 | $ 22,069 | $ 22,055 |
Reclassification adjustment for gains on securities included in net income | (20) | (9) | (47) | (15) |
Total unrealized gains on securities | (3,276) | 3,143 | 22,022 | 22,040 |
Unrealized holding gains (losses) on derivatives arising during the period | 225 | (124) | (4,892) | 9 |
Unrealized holding gains on securities arising during the period | 684 | (663) | (4,635) | (4,632) |
Reclassification adjustment for gains on derivatives included in net income, before Tax | 0 | 0 | 0 | 0 |
Total unrealized gain on derivatives | 225 | (124) | (4,892) | 9 |
Reclassification adjustment for gains on securities included in net income | 4 | 2 | 10 | 3 |
Total other comprehensive (loss) income | (3,051) | 3,019 | 17,130 | 22,049 |
Other Comprehensive Income (Loss), Securities, Available-for-sale, Tax | 688 | (661) | (4,625) | (4,629) |
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, Tax | (48) | 26 | 1,027 | (2) |
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI on Derivatives, Tax | 0 | 0 | 0 | 0 |
Other Comprehensive Income (Loss), Derivatives Qualifying as Hedges, Tax, Total | (48) | 26 | 1,027 | (2) |
Other Comprehensive Income (Loss), Tax | 640 | (635) | (3,598) | (4,631) |
Other comprehensive income (loss) before reclassification adjustment | (2,572) | 2,489 | 17,434 | 17,423 |
Total unrealized (losses) gains on securities | (2,588) | 2,482 | 17,397 | 17,411 |
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, Net of Tax | 177 | (98) | (3,865) | 7 |
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI on Derivatives, Net of Tax | 0 | 0 | 0 | 0 |
Other Comprehensive Income (Loss), Derivatives Qualifying as Hedges, Net of Tax, Total | 177 | (98) | (3,865) | 7 |
Total other comprehensive (loss) income | (2,411) | 2,384 | 13,532 | 17,418 |
Reclassification adjustment for gains on securities included in net income | 16 | 7 | 37 | 12 |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Accumulated other comprehensive income, net | 19,111 | 19,111 | ||
Other comprehensive income (loss) before reclassification adjustment | (2,572) | 2,489 | 17,434 | 17,423 |
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, Net of Tax | 177 | (98) | (3,865) | 7 |
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI on Derivatives, Net of Tax | 0 | 0 | 0 | 0 |
Other Comprehensive Income (Loss), Derivatives Qualifying as Hedges, before Tax | 225 | (124) | (4,892) | 9 |
Other comprehensive income (loss) | (2,411) | 2,384 | 13,532 | 17,418 |
Accumulated Net Unrealized Investment Gain (Loss) [Member] | ||||
Supplemental Comprehensive Income Disclosures [Abstract] | ||||
Other comprehensive income (loss) before reclassification adjustment | (2,572) | 2,489 | 17,434 | 17,423 |
Total other comprehensive (loss) income | (2,588) | 2,482 | 17,397 | 17,411 |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Accumulated other comprehensive income, net | 21,977 | 5,714 | 21,977 | 5,714 |
Other comprehensive income (loss) before reclassification adjustment | (2,572) | 2,489 | 17,434 | 17,423 |
Amounts reclassified from accumulated other comprehensive income (loss) | (16) | (7) | (37) | (12) |
Other comprehensive income (loss) | (2,588) | 2,482 | 17,397 | 17,411 |
Accumulated Defined Benefit Plans Adjustment [Member] | ||||
Supplemental Comprehensive Income Disclosures [Abstract] | ||||
Other comprehensive income (loss) before reclassification adjustment | 0 | 0 | 0 | 0 |
Total other comprehensive (loss) income | 0 | 0 | 0 | 0 |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Accumulated other comprehensive income, net | 365 | 461 | 365 | 461 |
Other comprehensive income (loss) before reclassification adjustment | 0 | 0 | 0 | 0 |
Amounts reclassified from accumulated other comprehensive income (loss) | 0 | 0 | 0 | 0 |
Other comprehensive income (loss) | 0 | 0 | 0 | 0 |
Derivative [Member] | ||||
Supplemental Comprehensive Income Disclosures [Abstract] | ||||
Total other comprehensive (loss) income | 177 | (98) | (3,865) | 7 |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Accumulated other comprehensive income, net | (3,231) | (98) | (3,231) | (98) |
Other comprehensive income (loss) | 177 | (98) | (3,865) | 7 |
Accumulated Other Comprehensive Income (Loss), net [Member] | ||||
Supplemental Comprehensive Income Disclosures [Abstract] | ||||
Total other comprehensive (loss) income | (2,411) | 2,384 | 13,532 | 17,418 |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Accumulated other comprehensive income, net | 19,111 | 6,077 | 19,111 | 6,077 |
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax | (2,395) | 2,391 | 13,569 | 17,430 |
Amounts reclassified from accumulated other comprehensive income (loss) | (16) | (7) | (37) | (12) |
Other comprehensive income (loss) | $ (2,411) | $ 2,384 | $ 13,532 | $ 17,418 |
Schedule of Accumulated Other C
Schedule of Accumulated Other Comprehensive Income - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Accumulated Other Comprehensive Income (Loss), Beginning Balance | $ 5,579 | |||
Other comprehensive income (loss) before reclassification adjustment | $ (2,572) | $ 2,489 | 17,434 | $ 17,423 |
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, Net of Tax | 177 | (98) | (3,865) | 7 |
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI on Derivatives, Net of Tax | 0 | 0 | 0 | 0 |
Total other comprehensive (loss) income | (2,411) | 2,384 | 13,532 | 17,418 |
Accumulated Other Comprehensive Income (Loss), Ending Balance | 19,111 | 19,111 | ||
Accumulated Net Unrealized Investment Gain (Loss) [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Accumulated Other Comprehensive Income (Loss), Beginning Balance | 4,580 | (11,697) | ||
Other comprehensive income (loss) before reclassification adjustment | (2,572) | 2,489 | 17,434 | 17,423 |
Amounts reclassified from accumulated other comprehensive income (loss) | (16) | (7) | (37) | (12) |
Total other comprehensive (loss) income | (2,588) | 2,482 | 17,397 | 17,411 |
Accumulated Other Comprehensive Income (Loss), Ending Balance | 21,977 | 5,714 | 21,977 | 5,714 |
Accumulated Net Unrealized Investment Gain (Loss) [Member] | Previously Reported [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Accumulated Other Comprehensive Income (Loss), Beginning Balance | 24,565 | 3,232 | ||
Accumulated Defined Benefit Plans Adjustment [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Accumulated Other Comprehensive Income (Loss), Beginning Balance | 365 | 461 | ||
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 | 365 | 461 | 365 | 461 |
Accumulated Defined Benefit Plans Adjustment [Member] | Previously Reported [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Accumulated Other Comprehensive Income (Loss), Beginning Balance | 365 | 461 | ||
Derivative [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Accumulated Other Comprehensive Income (Loss), Beginning Balance | 634 | (105) | ||
Total other comprehensive (loss) income | 177 | (98) | (3,865) | 7 |
Accumulated Other Comprehensive Income (Loss), Ending Balance | (3,231) | (98) | (3,231) | (98) |
Derivative [Member] | Previously Reported [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Accumulated Other Comprehensive Income (Loss), Beginning Balance | (3,408) | 0 | ||
Accumulated Other Comprehensive Income (Loss) [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Accumulated Other Comprehensive Income (Loss), Beginning Balance | 5,579 | (11,341) | ||
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax | (2,395) | 2,391 | 13,569 | 17,430 |
Amounts reclassified from accumulated other comprehensive income (loss) | (16) | (7) | (37) | (12) |
Total other comprehensive (loss) income | (2,411) | 2,384 | 13,532 | 17,418 |
Accumulated Other Comprehensive Income (Loss), Ending Balance | 19,111 | 6,077 | $ 19,111 | $ 6,077 |
Accumulated Other Comprehensive Income (Loss) [Member] | Previously Reported [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Accumulated Other Comprehensive Income (Loss), Beginning Balance | $ 21,522 | $ 3,693 |
Supplemental Cash Flow Disclo_3
Supplemental Cash Flow Disclosures - Non-cash Investing and Financing Activities - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2020 | Sep. 30, 2019 | |
Cash paid during the period for: | ||
Interest | $ 26,687 | $ 42,195 |
Income Taxes Paid, Net | 16,207 | 16,994 |
Non-cash investing and financing activities: | ||
Loans Transferred to Other Real Estate Owned and Repossessions | 3,206 | 2,754 |
Fair value of loans transferred from held to maturity to held for sale | 27,391 | 21,620 |
Gross increase in market value adjustment to securities available for sale | 22,022 | 22,041 |
Gross (decrease) increase in market value adjustment to derivatives | 4,892 | 9 |
Stock Issued During Period, Value, Treasury Stock Reissued | 1,594 | 2,531 |
Net (liabilities) assets acquired through acquisition | 0 | (361,895) |
Unsettled Bank Owned Life Insurance Proceeds | (384) | 486 |
Transfer of Loans Held-for-sale to Portfolio Loans | 1,908 | 0 |
Proceeds from reissuance of treasury stock | 222 | 211 |
Transfer to Investments | $ 22,644 | $ 0 |
Revenue Recognition In-Scope an
Revenue Recognition In-Scope and Out-of-Scope Revenue Streams - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Trust income | $ 2,554 | $ 2,325 | $ 6,774 | $ 6,221 |
Service charges on deposit accounts | 4,035 | 4,954 | 12,066 | 13,792 |
Insurance and retail brokerage commissions | 2,156 | 1,912 | 5,982 | 5,887 |
Card-related interchange income | 6,441 | 5,629 | 17,589 | 15,800 |
Derivatives mark to market | (160) | (45) | (2,122) | (88) |
Gain on sale of loans and other assets. | 1,871 | 970 | 3,151 | 3,831 |
Other income | 1,827 | 1,865 | 5,314 | 5,356 |
Noninterest Income | 26,769 | 22,179 | 67,854 | 62,957 |
In-Scope of Topic 606 [Member] | ||||
Trust income | 6,774 | 6,221 | ||
Service charges on deposit accounts | 12,066 | 13,792 | ||
Insurance and retail brokerage commissions | 5,982 | 5,887 | ||
Card-related interchange income | 17,589 | 15,800 | ||
Gain on sale of loans and other assets. | 520 | 181 | 853 | 861 |
Other income | 945 | 937 | 2,713 | 2,789 |
Noninterest Income | 16,651 | 15,938 | 45,977 | 45,350 |
Out-Of-Scope of Topic 606 [Member] | ||||
Noninterest Income | $ 10,118 | $ 6,241 | $ 21,877 | $ 17,607 |
Business Combinations
Business Combinations | 9 Months Ended |
Sep. 30, 2020 | |
Business Combinations [Abstract] | |
Business Combination Disclosure | 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 final purchase price allocation and the net assets acquired (at fair value) and consideration transferred in connection with the Santander acquisition (dollars in thousands): Consideration received Cash received $ 329,533 Total consideration received $ 329,533 Fair Value of Assets Acquired Cash and cash equivalents 2,935 Loans 99,956 Premises and other equipment 3,637 Core deposit intangible 5,615 Other assets 770 Total assets acquired 112,913 Fair Value of Liabilities Assumed Deposits 471,386 Other Liabilities 186 Total liabilities assumed 471,572 Total Fair Value of Identifiable Net Assets (358,659) Goodwill $ 29,126 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 $5.6 million core deposit intangible was recognized for core deposits acquired. The goodwill of $29.1 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. |
Earnings per Share
Earnings per Share | 9 Months Ended |
Sep. 30, 2020 | |
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, 2020 2019 2020 2019 Weighted average common shares issued 113,914,902 113,914,902 113,914,902 113,914,902 Average treasury stock shares (15,821,469) (15,496,941) (15,761,114) (15,396,215) Average deferred compensation shares (45,454) (37,411) (41,790) (37,411) Average unearned nonvested shares (130,883) (113,321) (121,249) (117,737) Weighted average common shares and common stock equivalents used to calculate basic earnings per share 97,917,096 98,267,229 97,990,749 98,363,539 Additional common stock equivalents (nonvested stock) used to calculate diluted earnings per share 197,545 243,258 188,255 214,837 Additional common stock equivalents (deferred compensation) used to calculate diluted earnings per share 45,502 37,411 45,502 37,411 Weighted average common shares and common stock equivalents used to calculate diluted earnings per share 98,160,143 98,547,898 98,224,506 98,615,787 Per Share Data: Basic Earnings per Share $ 0.20 $ 0.27 $ 0.49 $ 0.80 Diluted Earnings per Share $ 0.20 $ 0.27 $ 0.49 $ 0.80 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. 2020 2019 Price Range Price Range Shares From To Shares From To Restricted Stock 110,068 $ 13.72 $ 15.44 95,054 $ 12.99 $ 15.44 Restricted Stock Units 102,844 $ 12.43 $ 15.37 24,782 $ 16.62 $ 16.62 |
Commitments and Contingent Liab
Commitments and Contingent Liabilities | 9 Months Ended |
Sep. 30, 2020 | |
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, 2020 December 31, 2019 (dollars in thousands) Financial instruments whose contract amounts represent credit risk: Commitments to extend credit $ 2,080,476 $ 1,981,275 Financial standby letters of credit 13,879 16,630 Performance standby letters of credit 17,914 23,293 Commercial letters of credit 470 783 The notional amounts outstanding as of September 30, 2020 include amounts issued in 2020 of $245 thousand in performance standby letters of credit and $641 thousand in financial standby letters of credit. There were no commercial letters of credit issued in 2020. A liability of $0.1 million has been recorded as of both September 30, 2020 and December 31, 2019, 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 $3.4 million and $4.5 million as of September 30, 2020 and December 31, 2019, respectively. This liability is reflected in "Other liabilities" in the unaudited 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, 2020, 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, 2020 | |
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, 2020 December 31, 2019 Amortized Gross Gross Estimated Amortized Gross Gross Estimated (dollars in thousands) Obligations of U.S. Government Agencies: Mortgage-Backed Securities – Residential $ 6,778 $ 763 $ — $ 7,541 $ 7,745 $ 596 $ — $ 8,341 Mortgage-Backed Securities – Commercial 209,175 9,377 — 218,552 186,316 2,983 (166) 189,133 Obligations of U.S. Government-Sponsored Enterprises: Mortgage-Backed Securities – Residential 527,570 15,977 (4) 543,543 660,777 4,113 (2,943) 661,947 Other Government-Sponsored Enterprises 100,993 2 (2) 100,993 1,000 — — 1,000 Obligations of States and Political Subdivisions 12,965 208 (6) 13,167 17,738 171 — 17,909 Corporate Securities 22,935 1,505 — 24,440 22,919 1,043 — 23,962 Total Securities Available for Sale $ 880,416 $ 27,832 $ (12) $ 908,236 $ 896,495 $ 8,906 $ (3,109) $ 902,292 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, 2020, by contractual maturity, are shown below. Amortized Estimated (dollars in thousands) Due within 1 year $ 104,991 $ 105,041 Due after 1 but within 5 years 20,225 21,260 Due after 5 but within 10 years 7,127 7,749 Due after 10 years 4,550 4,550 136,893 138,600 Mortgage-Backed Securities (a) 743,523 769,636 Total Debt Securities $ 880,416 $ 908,236 (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 $216.0 million and a fair value of $226.1 million for Obligations of U.S. Government agencies issued by Ginnie Mae and an amortized cost of $527.6 million and a fair value of $543.5 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: 2020 2019 (dollars in thousands) Proceeds from sales $ — $ — Gross gains (losses) realized: Sales transactions: Gross gains $ — $ — Gross losses — — — — Maturities Gross gains 47 15 Gross losses — — 47 15 Net gains and impairment $ 47 $ 15 Securities available for sale with an estimated fair value of $865.1 million and $584.8 million were pledged as of September 30, 2020 and December 31, 2019, 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, 2020 December 31, 2019 Amortized Gross Gross Estimated Amortized Gross Gross Estimated (dollars in thousands) Obligations of U.S. Government Agencies: Mortgage-Backed Securities – Residential $ 2,937 $ 151 $ — $ 3,088 $ 3,392 $ 57 $ — $ 3,449 Mortgage-Backed Securities- Commercial 41,334 1,537 — 42,871 51,291 18 (184) 51,125 Obligations of U.S. Government-Sponsored Enterprises: Mortgage-Backed Securities – Residential 171,100 5,646 (19) 176,727 229,667 1,377 (294) 230,750 Mortgage-Backed Securities – Commercial 10,334 375 — 10,709 12,081 67 — 12,148 Obligations of States and Political Subdivisions 42,133 661 (1) 42,793 40,092 554 — 40,646 Debt Securities Issued by Foreign Governments 800 — — 800 600 — — 600 Total Securities Held to Maturity $ 268,638 $ 8,370 $ (20) $ 276,988 $ 337,123 $ 2,073 $ (478) $ 338,718 The amortized cost and estimated fair value of debt securities held to maturity at September 30, 2020, 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 $ 4,949 $ 4,974 Due after 1 but within 5 years 11,195 11,310 Due after 5 but within 10 years 19,760 20,232 Due after 10 years 7,029 7,077 42,933 43,593 Mortgage-Backed Securities (a) 225,705 233,395 Total Debt Securities $ 268,638 $ 276,988 (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 $44.3 million and a fair value of $46.0 million for Obligations of U.S. Government agencies issued by Ginnie Mae and an amortized cost of $181.4 million and a fair value of $187.4 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 $257.6 million and $306.8 million were pledged as of September 30, 2020 and December 31, 2019, respectively, to secure public deposits and for other purposes required or permitted by law. 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, 2020 and December 31, 2019, our FHLB stock totaled $11.3 million and $15.1 million, respectively, and is included in “Other investments” on the unaudited 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, 2020. As of both September 30, 2020 and December 31, 2019, "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, 2020 and 2019, there were no gains or losses recognized through earnings on equity securities. On a quarterly basis, management evaluates equity securities by reviewing the severity and duration of decline in estimated fair value, research reports, analysts’ recommendations, credit rating changes, news stories, annual reports, regulatory filings, impact of interest rate changes and other relevant information. Impairment of Investment Securities 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, 2020 and 2019, 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, 2020 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-Sponsored Enterprises: Mortgage-Backed Securities – Residential $ 10,777 $ (23) $ — $ — $ 10,777 $ (23) Other Government-Sponsored Enterprises 998 (2) — — 998 (2) Obligations of States and Political Subdivisions 2,207 (7) — — 2,207 (7) Total Securities $ 13,982 $ (32) $ — $ — $ 13,982 $ (32) At September 30, 2020, fixed income securities issued by U.S. Government-sponsored enterprises comprised 78% of total unrealized losses due to changes in market interest rates. At September 30, 2020, there are ten debt securities in an unrealized loss position. The following table presents the gross unrealized losses and estimated fair values at December 31, 2019 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 $ 54,501 $ (201) $ 16,365 $ (149) $ 70,866 $ (350) Obligations of U.S. Government-Sponsored Enterprises: Mortgage-Backed Securities – Residential 111,969 (436) 219,015 (2,801) 330,984 (3,237) Total Securities $ 166,470 $ (637) $ 235,380 $ (2,950) $ 401,850 $ (3,587) As of September 30, 2020, our corporate securities had an amortized cost and an estimated fair value of $22.9 million and $24.4 million, respectively. As of December 31, 2019, our corporate securities had an amortized cost and estimated fair value of $22.9 million and $24.0 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 both September 30, 2020 and December 31, 2019. 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. |
Fair Values of Assets and Liabi
Fair Values of Assets and Liabilities | 9 Months Ended |
Sep. 30, 2020 | |
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 unaudited Consolidated Statements of Financial Condition or in the “Other assets” category of the unaudited 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 observable inputs 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 source price 100% of the securities on a monthly basis, 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 unaudited 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 7, “Investment Securities.” Loans held for sale 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 also include the Small Business Administration guaranteed portion of small business loans. The estimated fair value of these loans is based on the contract with the third party investor. During the third quarter of 2020, the company announced the consolidation of 29 branch locations into nearby offices prior to December 31, 2020. As a result, 17 owned locations were moved to held for sale and are being carried at the lower of cost or fair value. Four of these locations are carried at fair value, determined by an independent market-based appraisal less estimated costs to sell, and are classified as Level 2. 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 12, “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 estimated 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 2020, 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 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, the following table provides information related to quantitative inputs and assumptions used in Level 3 fair value measurements. Fair Value (dollars Valuation Unobservable Inputs Range / September 30, 2020 Other Investments $ 1,670 CarryingValue N/A N/A Impaired Loans 758 (a) Gas Reserve Study Discount rate 10.00% Gas per MMBTU $1.46 - $1.48 (b) Oil per BBL/d $36.00 - $36.00 (b) Limited Partnership Investments 6,546 Par Value N/A N/A December 31, 2019 Other Investments $ 1,670 CarryingValue N/A N/A Impaired Loans 884 (a) Gas Reserve Study Discount rate 10.00% Gas per MMBTU $2.61 - $3.49 (b) Oil per BBL/d $47.09 - $53.14 (b) 2,239 Discounted Cash Flow Discount Rate $3.84 - $9.50 Limited Partnership Investments 5,795 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, 2020 Level 1 Level 2 Level 3 Total (dollars in thousands) Obligations of U.S. Government Agencies: Mortgage-Backed Securities - Residential $ — $ 7,541 $ — $ 7,541 Mortgage-Backed Securities - Commercial — 218,552 — 218,552 Obligations of U.S. Government-Sponsored Enterprises: Mortgage-Backed Securities - Residential — 543,543 — 543,543 Other Government-Sponsored Enterprises — 100,993 — 100,993 Obligations of States and Political Subdivisions — 13,167 — 13,167 Corporate Securities — 24,440 — 24,440 Total Securities Available for Sale — 908,236 — 908,236 Other Investments — 11,296 1,670 12,966 Loans Held for Sale — 37,998 — 37,998 Premises and Equipment, net — 442 — 442 Other Assets (a) — 60,563 6,546 67,109 Total Assets $ — $ 1,018,535 $ 8,216 $ 1,026,751 Other Liabilities (a) $ — $ 67,241 $ — $ 67,241 Total Liabilities $ — $ 67,241 $ — $ 67,241 (a) Hedging and non-hedging interest rate derivatives and limited partnership investments December 31, 2019 Level 1 Level 2 Level 3 Total (dollars in thousands) Obligations of U.S. Government Agencies: Mortgage-Backed Securities - Residential $ — $ 8,341 $ — $ 8,341 Mortgage-Backed Securities - Commercial — 189,133 — 189,133 Obligations of U.S. Government-Sponsored Enterprises: Mortgage-Backed Securities - Residential — 661,947 — 661,947 Other Government-Sponsored Enterprises — 1,000 — 1,000 Obligations of States and Political Subdivisions — 17,909 — 17,909 Corporate Securities — 23,962 — 23,962 Total Securities Available for Sale — 902,292 — 902,292 Other Investments — 15,091 1,670 16,761 Loans Held for Sale — 15,989 — 15,989 Other Assets (a) — 21,894 5,795 27,689 Total Assets $ — $ 955,266 $ 7,465 $ 962,731 Other Liabilities (a) $ — $ 21,469 $ — $ 21,469 Total Liabilities $ — $ 21,469 $ — $ 21,469 (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: 2020 Other Investments Other Total (dollars in thousands) Balance, beginning of period $ 1,670 $ 5,795 $ 7,465 Total gains or losses Included in earnings — — — Included in other comprehensive income — — — Purchases, issuances, sales and settlements Purchases — 751 751 Issuances — — — Sales — — — Settlements — — — Transfers from Level 3 — — — Transfers into Level 3 — — — Balance, end of period $ 1,670 $ 6,546 $ 8,216 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 During the nine months ended September 30, 2020 and 2019, 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, 2020 and 2019. 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: 2020 Other Investments Other Total (dollars in thousands) Balance, beginning of period $ 1,670 $ 6,406 $ 8,076 Total gains or losses Included in earnings — — — Included in other comprehensive income — — — Purchases, issuances, sales and settlements Purchases — 140 140 Issuances — — — Sales — — — Settlements — — — Transfers from Level 3 — — — Transfers into Level 3 — — — Balance, end of period $ 1,670 $ 6,546 $ 8,216 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 During the three months ended September 30, 2020 and 2019, 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, 2020 and 2019. The tables below present the balances of assets measured at fair value on a nonrecurring basis at: September 30, 2020 Level 1 Level 2 Level 3 Total (dollars in thousands) Impaired loans $ — $ 28,793 $ 13,517 $ 42,310 Other real estate owned — 1,183 — 1,183 Total Assets $ — $ 29,976 $ 13,517 $ 43,493 December 31, 2019 Level 1 Level 2 Level 3 Total (dollars in thousands) Impaired loans $ — $ 12,267 $ 17,518 $ 29,785 Other real estate owned — 2,608 — 2,608 Total Assets $ — $ 14,875 $ 17,518 $ 32,393 The following losses were realized on the assets measured on a nonrecurring basis: For the Three Months Ended September 30, For the Nine Months Ended September 30, 2020 2019 2020 2019 (dollars in thousands) Impaired loans 2 $ (3,695) $ (954) $ (9,940) $ (2,606) Other real estate owned (4) (42) (4) (51) Total losses $ (3,699) $ (996) $ (9,944) $ (2,657) Impaired loans over $250 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. Other real estate owned has a current carrying value of $1.1 million as of September 30, 2020 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, core deposit intangibles and customer list 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 13, “Goodwill.” There were no other assets or liabilities measured at fair value on a nonrecurring basis during the nine months ended September 30, 2020. 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 estimated fair value for standby letters of credit was $0.1 million at both September 30, 2020 and December 31, 2019. 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 and long-term debt: 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. The following table presents carrying amounts and fair values of First Commonwealth’s financial instruments: September 30, 2020 Fair Value Measurements Using: Carrying Total Level 1 Level 2 Level 3 (dollars in thousands) Financial assets Cash and due from banks $ 97,060 $ 97,060 $ 97,060 $ — $ — Interest-bearing deposits 283,037 283,037 283,037 — — Securities available for sale 908,236 908,236 — 908,236 — Securities held to maturity 268,638 276,988 — 276,988 — Other investments 12,966 12,966 — 11,296 1,670 Loans held for sale 37,998 37,998 — 37,998 — Loans 6,949,716 7,391,037 — 28,793 7,362,244 Financial liabilities Deposits 7,703,907 7,707,618 — 7,707,618 — Short-term borrowings 122,356 121,828 — 121,828 — Subordinated debt 170,572 164,565 — — 164,565 Long-term debt 56,424 58,372 — 58,372 — Capital lease obligation 6,494 6,494 — 6,494 — December 31, 2019 Fair Value Measurements Using: Carrying Total Level 1 Level 2 Level 3 (dollars in thousands) Financial assets Cash and due from banks $ 102,346 $ 102,346 $ 102,346 $ — $ — Interest-bearing deposits 19,510 19,510 19,510 — — Securities available for sale 902,292 902,292 — 902,292 — Securities held to maturity 337,123 338,718 — 338,718 — Other investments 16,761 16,761 — 15,091 1,670 Loans held for sale 15,989 15,989 — 15,989 — Loans 6,189,148 6,393,872 — 12,267 6,381,605 Financial liabilities Deposits 6,677,615 6,677,595 — 6,677,595 — Short-term borrowings 201,853 201,151 — 201,151 — Subordinated debt 170,450 171,772 — — 171,772 Long-term debt 56,917 58,051 — 58,051 — Capital lease obligation 6,815 6,815 — 6,815 — |
Goodwill
Goodwill | 9 Months Ended |
Sep. 30, 2020 | |
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 circumstances indicate that it is more likely than not that fair value is less than carrying value, a triggering event has occurred and a quantitative impairment test would be performed. We consider First Commonwealth to be one reporting unit. The carrying amount of goodwill as both of September 30, 2020 and December 31, 2019 was $303.3 million. No impairment charges on goodwill or other intangible assets were incurred in 2020 or 2019. 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 a result of the COVID-19 pandemic and its impact on the Company's stock price as well as the potential impact on future earnings, Management evaluated whether a triggering event had occurred as of September 30, 2020. The evaluation concluded that it was more likely than not that First Commonwealth's fair value exceeded its book value and therefore there was no triggering event. 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, 2020 | |
Subordinated Debentures Outstanding [Abstract] | |
Subordinated Borrowings Disclosure [Text Block] | Subordinated Debentures Subordinated debentures outstanding are as follows: September 30, 2020 December 31, 2019 Due Amount Rate Amount Rate (dollars in thousands) Owed to: First Commonwealth Bank 2028 $ 49,291 4.875% until June 1, 2023, then LIBOR + 1.845% $ 49,222 4.875% until June 1, 2023, then LIBOR + 1.845% First Commonwealth Bank 2033 49,114 5.50% until June 1, 2028, then LIBOR + 2.37% 49,061 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 $ 170,572 $ 170,450 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. |
Business Combinations (Tables)
Business Combinations (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Business Combinations [Abstract] | |
Schedule of Business Acquisitions, by Acquisition | The table below summarizes the final purchase price allocation and the net assets acquired (at fair value) and consideration transferred in connection with the Santander acquisition (dollars in thousands): Consideration received Cash received $ 329,533 Total consideration received $ 329,533 Fair Value of Assets Acquired Cash and cash equivalents 2,935 Loans 99,956 Premises and other equipment 3,637 Core deposit intangible 5,615 Other assets 770 Total assets acquired 112,913 Fair Value of Liabilities Assumed Deposits 471,386 Other Liabilities 186 Total liabilities assumed 471,572 Total Fair Value of Identifiable Net Assets (358,659) Goodwill $ 29,126 |
Earnings per Share (Tables)
Earnings per Share (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
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, 2020 2019 2020 2019 Weighted average common shares issued 113,914,902 113,914,902 113,914,902 113,914,902 Average treasury stock shares (15,821,469) (15,496,941) (15,761,114) (15,396,215) Average deferred compensation shares (45,454) (37,411) (41,790) (37,411) Average unearned nonvested shares (130,883) (113,321) (121,249) (117,737) Weighted average common shares and common stock equivalents used to calculate basic earnings per share 97,917,096 98,267,229 97,990,749 98,363,539 Additional common stock equivalents (nonvested stock) used to calculate diluted earnings per share 197,545 243,258 188,255 214,837 Additional common stock equivalents (deferred compensation) used to calculate diluted earnings per share 45,502 37,411 45,502 37,411 Weighted average common shares and common stock equivalents used to calculate diluted earnings per share 98,160,143 98,547,898 98,224,506 98,615,787 Per Share Data: Basic Earnings per Share $ 0.20 $ 0.27 $ 0.49 $ 0.80 Diluted Earnings per Share $ 0.20 $ 0.27 $ 0.49 $ 0.80 |
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. 2020 2019 Price Range Price Range Shares From To Shares From To Restricted Stock 110,068 $ 13.72 $ 15.44 95,054 $ 12.99 $ 15.44 Restricted Stock Units 102,844 $ 12.43 $ 15.37 24,782 $ 16.62 $ 16.62 |
Commitments and Contingent Li_2
Commitments and Contingent Liabilities (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Commitments and Contingencies Disclosure [Abstract] | |
Notional Amount of Outstanding Commitments | The following table identifies the notional amount of those instruments at: September 30, 2020 December 31, 2019 (dollars in thousands) Financial instruments whose contract amounts represent credit risk: Commitments to extend credit $ 2,080,476 $ 1,981,275 Financial standby letters of credit 13,879 16,630 Performance standby letters of credit 17,914 23,293 Commercial letters of credit 470 783 |
Investment Securities (Tables)
Investment Securities (Tables) | 9 Months Ended | |
Sep. 30, 2020 | ||
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, 2020 December 31, 2019 Amortized Gross Gross Estimated Amortized Gross Gross Estimated (dollars in thousands) Obligations of U.S. Government Agencies: Mortgage-Backed Securities – Residential $ 6,778 $ 763 $ — $ 7,541 $ 7,745 $ 596 $ — $ 8,341 Mortgage-Backed Securities – Commercial 209,175 9,377 — 218,552 186,316 2,983 (166) 189,133 Obligations of U.S. Government-Sponsored Enterprises: Mortgage-Backed Securities – Residential 527,570 15,977 (4) 543,543 660,777 4,113 (2,943) 661,947 Other Government-Sponsored Enterprises 100,993 2 (2) 100,993 1,000 — — 1,000 Obligations of States and Political Subdivisions 12,965 208 (6) 13,167 17,738 171 — 17,909 Corporate Securities 22,935 1,505 — 24,440 22,919 1,043 — 23,962 Total Securities Available for Sale $ 880,416 $ 27,832 $ (12) $ 908,236 $ 896,495 $ 8,906 $ (3,109) $ 902,292 | |
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, 2020, by contractual maturity, are shown below. Amortized Estimated (dollars in thousands) Due within 1 year $ 104,991 $ 105,041 Due after 1 but within 5 years 20,225 21,260 Due after 5 but within 10 years 7,127 7,749 Due after 10 years 4,550 4,550 136,893 138,600 Mortgage-Backed Securities (a) 743,523 769,636 Total Debt Securities $ 880,416 $ 908,236 | [1] |
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: 2020 2019 (dollars in thousands) Proceeds from sales $ — $ — Gross gains (losses) realized: Sales transactions: Gross gains $ — $ — Gross losses — — — — Maturities Gross gains 47 15 Gross losses — — 47 15 Net gains and impairment $ 47 $ 15 | |
[1] | 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 $44.3 million and a fair value of $46.0 million for Obligations of U.S. Government agencies issued by Ginnie Mae and an amortized cost of $181.4 million and a fair value of $187.4 million for Obligations of U.S. Government-sponsored enterprises issued by Fannie Mae and Freddie Mac. |
Investment Securities Maturity
Investment Securities Maturity of Held-to-Maturity Securities (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
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, 2020 December 31, 2019 Amortized Gross Gross Estimated Amortized Gross Gross Estimated (dollars in thousands) Obligations of U.S. Government Agencies: Mortgage-Backed Securities – Residential $ 2,937 $ 151 $ — $ 3,088 $ 3,392 $ 57 $ — $ 3,449 Mortgage-Backed Securities- Commercial 41,334 1,537 — 42,871 51,291 18 (184) 51,125 Obligations of U.S. Government-Sponsored Enterprises: Mortgage-Backed Securities – Residential 171,100 5,646 (19) 176,727 229,667 1,377 (294) 230,750 Mortgage-Backed Securities – Commercial 10,334 375 — 10,709 12,081 67 — 12,148 Obligations of States and Political Subdivisions 42,133 661 (1) 42,793 40,092 554 — 40,646 Debt Securities Issued by Foreign Governments 800 — — 800 600 — — 600 Total Securities Held to Maturity $ 268,638 $ 8,370 $ (20) $ 276,988 $ 337,123 $ 2,073 $ (478) $ 338,718 |
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, 2020, 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 $ 4,949 $ 4,974 Due after 1 but within 5 years 11,195 11,310 Due after 5 but within 10 years 19,760 20,232 Due after 10 years 7,029 7,077 42,933 43,593 Mortgage-Backed Securities (a) 225,705 233,395 Total Debt Securities $ 268,638 $ 276,988 (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 $44.3 million and a fair value of $46.0 million for Obligations of U.S. Government agencies issued by Ginnie Mae and an amortized cost of $181.4 million and a fair value of $187.4 million for Obligations of U.S. Government-sponsored enterprises issued by Fannie Mae and Freddie Mac. |
Loans and Allowance for Credit
Loans and Allowance for Credit Losses (Tables) | 3 Months Ended | 9 Months Ended |
Sep. 30, 2020 | Sep. 30, 2020 | |
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, 2020 December 31, 2019 Originated Acquired Total Originated Acquired Total (dollars in thousands) Commercial, financial, agricultural and other $ 1,711,614 $ 25,122 $ 1,736,736 $ 1,212,026 $ 29,827 $ 1,241,853 Real estate construction 450,589 2,400 452,989 442,777 6,262 449,039 Residential real estate 1,534,949 209,071 1,744,020 1,415,808 265,554 1,681,362 Commercial real estate 2,088,217 127,094 2,215,311 1,958,346 159,173 2,117,519 Loans to individuals 790,471 10,189 800,660 685,416 13,959 699,375 Total loans $ 6,575,840 $ 373,876 $ 6,949,716 $ 5,714,373 $ 474,775 $ 6,189,148 | |
Credit Risk Profile by Creditworthiness | The following tables represent our credit risk profile by creditworthiness: September 30, 2020 Commercial, financial, agricultural and other Real estate construction Residential real estate Commercial real estate Loans to individuals Total (dollars in thousands) Originated loans Pass $ 1,649,458 $ 450,513 $ 1,527,225 $ 1,977,234 $ 790,222 $ 6,394,652 Non-Pass OAEM 37,033 22 915 69,450 — 107,420 Substandard 25,123 54 6,809 41,533 249 73,768 Doubtful — — — — — — Total Non-Pass 62,156 76 7,724 110,983 249 181,188 Total $ 1,711,614 $ 450,589 $ 1,534,949 $ 2,088,217 $ 790,471 $ 6,575,840 Acquired loans Pass $ 23,405 $ 1,588 $ 207,233 $ 123,703 $ 10,178 $ 366,107 Non-Pass OAEM 196 504 511 136 — 1,347 Substandard 1,521 308 1,327 3,255 11 6,422 Doubtful — — — — — — Total Non-Pass 1,717 812 1,838 3,391 11 7,769 Total $ 25,122 $ 2,400 $ 209,071 $ 127,094 $ 10,189 $ 373,876 December 31, 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 $ 1,171,363 $ 442,751 $ 1,406,845 $ 1,918,690 $ 685,108 $ 5,624,757 Non-Pass OAEM 29,359 26 475 13,533 — 43,393 Substandard 11,304 — 8,488 26,123 308 46,223 Doubtful — — — — — — Total Non-Pass 40,663 26 8,963 39,656 308 89,616 Total $ 1,212,026 $ 442,777 $ 1,415,808 $ 1,958,346 $ 685,416 $ 5,714,373 Acquired loans Pass $ 27,696 $ 5,697 $ 262,630 $ 153,814 $ 13,947 $ 463,784 Non-Pass OAEM 2,009 565 537 2,072 — 5,183 Substandard 122 — 2,387 3,287 12 5,808 Doubtful — — — — — — Total Non-Pass 2,131 565 2,924 5,359 12 10,991 Total $ 29,827 $ 6,262 $ 265,554 $ 159,173 $ 13,959 $ 474,775 | |
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, 2020 and December 31, 2019. 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, 2020 30 - 59 60 - 89 90 days Nonaccrual Total past Current Total (dollars in thousands) Originated loans Commercial, financial, agricultural and other $ 1,978 $ 67 $ 17 $ 4,389 $ 6,451 $ 1,705,163 $ 1,711,614 Real estate construction — — — 54 54 450,535 450,589 Residential real estate 2,022 1,554 458 5,960 9,994 1,524,955 1,534,949 Commercial real estate 517 122 — 30,112 30,751 2,057,466 2,088,217 Loans to individuals 1,986 902 725 247 3,860 786,611 790,471 Total $ 6,503 $ 2,645 $ 1,200 $ 40,762 $ 51,110 $ 6,524,730 $ 6,575,840 Acquired loans Commercial, financial, agricultural and other $ 38 $ — $ — $ 74 $ 112 $ 25,010 $ 25,122 Real estate construction — — — 308 308 2,092 2,400 Residential real estate 397 459 — 1,262 2,118 206,953 209,071 Commercial real estate — 136 — 233 369 126,725 127,094 Loans to individuals 34 47 49 11 141 10,048 10,189 Total $ 469 $ 642 $ 49 $ 1,888 $ 3,048 $ 370,828 $ 373,876 December 31, 2019 30 - 59 60 - 89 90 days Nonaccrual Total past Current Total (dollars in thousands) Originated loans Commercial, financial, agricultural and other $ 391 $ 57 $ 140 $ 8,780 $ 9,368 $ 1,202,658 $ 1,212,026 Real estate construction 198 — 9 — 207 442,570 442,777 Residential real estate 3,757 749 736 6,646 11,888 1,403,920 1,415,808 Commercial real estate 227 114 — 6,609 6,950 1,951,396 1,958,346 Loans to individuals 4,070 1,020 931 307 6,328 679,088 685,416 Total $ 8,643 $ 1,940 $ 1,816 $ 22,342 $ 34,741 $ 5,679,632 $ 5,714,373 Acquired loans Commercial, financial, agricultural and other $ 1 $ — $ 1 $ 74 $ 76 $ 29,751 $ 29,827 Real estate construction — — — — — 6,262 6,262 Residential real estate 304 207 221 1,949 2,681 262,873 265,554 Commercial real estate — 107 — 298 405 158,768 159,173 Loans to individuals 87 89 35 12 223 13,736 13,959 Total $ 392 $ 403 $ 257 $ 2,333 $ 3,385 $ 471,390 $ 474,775 | |
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, 2020 and December 31, 2019. 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, 2020 December 31, 2019 Recorded Unpaid Related Recorded Unpaid Related (dollars in thousands) Originated loans: With no related allowance recorded: Commercial, financial, agricultural and other $ 795 $ 987 $ 1,848 $ 6,997 Real estate construction 54 53 — — Residential real estate 9,962 11,965 10,372 12,437 Commercial real estate 14,228 14,523 3,015 3,210 Loans to individuals 495 808 406 640 Subtotal 25,534 28,336 15,641 23,284 With an allowance recorded: Commercial, financial, agricultural and other 4,750 12,778 $ 1,497 8,290 10,032 $ 1,580 Real estate construction — — — — — — Residential real estate — — — 474 498 1 Commercial real estate 17,389 17,442 5,921 5,293 5,308 851 Loans to individuals — — — — — — Subtotal 22,139 30,220 7,418 14,057 15,838 2,432 Total $ 47,673 $ 58,556 $ 7,418 $ 29,698 $ 39,122 $ 2,432 September 30, 2020 December 31, 2019 Recorded Unpaid Related Recorded Unpaid Related (dollars in thousands) Acquired loans With no related allowance recorded: Commercial, financial, agricultural and other $ 74 $ 74 $ 73 $ 73 Real estate construction 308 308 — — Residential real estate 1,429 1,794 2,136 2,585 Commercial real estate 233 257 298 320 Loans to individuals 11 14 12 15 Subtotal 2,055 2,447 2,519 2,993 With an allowance recorded: Commercial, financial, agricultural and other — — $ — — — $ — Real estate construction — — — — — — Residential real estate — — — — — — Commercial real estate — — — — — — Loans to individuals — — — — — — Subtotal — — — — — — Total $ 2,055 $ 2,447 $ — $ 2,519 $ 2,993 $ — For the Nine Months Ended September 30, 2020 2019 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 $ 4,062 $ 15 $ 74 $ — $ 2,129 $ 10 $ 2,255 $ — Real estate construction 6 — 137 — — — — — Residential real estate 10,380 235 1,772 18 10,751 280 1,966 6 Commercial real estate 13,994 90 1,453 76 3,854 129 636 18 Loans to individuals 469 9 11 — 356 11 14 — Subtotal 28,911 349 3,447 94 17,090 430 4,871 24 With an allowance recorded: Commercial, financial, agricultural and other 4,569 45 — — 4,064 36 — — Real estate construction — — — — — — — — Residential real estate — — — — 347 6 — — Commercial real estate 13,830 9 — — 5,357 2 160 — Loans to individuals — — — — — — — — Subtotal 18,399 54 — — 9,768 44 160 — Total $ 47,310 $ 403 $ 3,447 $ 94 $ 26,858 $ 474 $ 5,031 $ 24 | |
Troubled Debt Restructured Loans and Commitments | 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, 2020 Type of Modification Number Extend Modify Modify Total Post- Specific (dollars in thousands) Commercial, financial, agricultural and other 1 $ — $ 629 $ — $ 629 $ 625 $ 489 Residential real estate 16 $ — $ 33 $ 844 $ 877 $ 729 $ — Commercial real estate 2 — — 12 12 8 — Loans to individuals 14 — 114 149 263 245 — Total 33 $ — $ 776 $ 1,005 $ 1,781 $ 1,607 $ 489 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 | The following table provides detail as to the total troubled debt restructured loans and total commitments outstanding on troubled debt restructured loans: September 30, 2020 December 31, 2019 (dollars in thousands) Troubled debt restructured loans Accrual status $ 7,078 $ 7,542 Nonaccrual status 4,511 6,037 Total $ 11,589 $ 13,579 Commitments Letters of credit $ 60 $ 60 Unused lines of credit 21 163 Total $ 81 $ 223 |
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: 2020 2019 Number of Recorded Number of Recorded (dollars in thousands) Residential real estate 1 $ 50 3 $ 70 Commercial real estate 1 112 — — Loans to individuals 2 78 — — Total 4 $ 240 3 $ 70 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: 2020 2019 Number of Recorded Number of Recorded (dollars in thousands) Residential real estate — $ — 2 $ 49 Commercial real estate 1 112 — — Loans to individuals 2 78 — — Total 3 $ 190 2 $ 49 | |
Allowance for Credit Losses | The following tables provide detail related to the allowance for credit losses: For the Nine Months Ended September 30, 2020 Commercial, Real estate Residential Commercial Loans to Total (dollars in thousands) Allowance for credit losses: Originated loans: Beginning balance $ 20,221 $ 2,558 $ 4,091 $ 19,731 $ 4,984 $ 51,585 Charge-offs (5,166) — (720) (2,415) (4,958) (13,259) Recoveries 161 26 274 154 702 1,317 Provision (credit) 9,936 924 4,607 23,132 8,087 46,686 Ending balance 25,152 3,508 8,252 40,602 8,815 86,329 Acquired loans: Beginning balance 13 — 2 37 — 52 Charge-offs — — (213) (2) (287) (502) Recoveries 28 — 38 — 10 76 Provision (credit) 295 — 173 1,607 277 2,352 Ending balance 336 — — 1,642 — 1,978 Total ending balance $ 25,488 $ 3,508 $ 8,252 $ 42,244 $ 8,815 $ 88,307 Ending balance: individually evaluated for impairment $ 1,497 $ — $ — $ 5,921 $ — $ 7,418 Ending balance: collectively evaluated for impairment 23,991 3,508 8,252 36,323 8,815 80,889 Loans: Ending balance 1,736,736 452,989 1,744,020 2,215,311 800,660 6,949,716 Ending balance: individually evaluated for impairment 5,048 308 1,226 30,387 — 36,969 Ending balance: collectively evaluated for impairment 1,731,688 452,681 1,742,794 2,184,924 800,660 6,912,747 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 Three Months Ended September 30, 2020 Commercial, Real estate Residential Commercial Loans to Total (dollars in thousands) Allowance for credit losses: Originated loans: Beginning balance $ 24,812 $ 3,067 $ 9,239 $ 33,130 $ 9,334 $ 79,582 Charge-offs (3,395) — (161) — (1,149) (4,705) Recoveries 44 — 153 110 226 533 Provision (credit) 3,691 441 (979) 7,362 404 10,919 Ending balance 25,152 3,508 8,252 40,602 8,815 86,329 Acquired loans: Beginning balance 332 171 — 1,356 — 1,859 Charge-offs — — (122) — (80) (202) Recoveries 13 — 13 — 2 28 Provision (credit) (9) (171) 109 286 78 293 Ending balance 336 — — 1,642 — 1,978 Total ending balance $ 25,488 $ 3,508 $ 8,252 $ 42,244 $ 8,815 $ 88,307 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 |
Leases Lease Liability Maturity
Leases Lease Liability Maturity (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
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, 2020 were as follows (dollars in thousands): For the twelve months ended: September 30, 2021 $ 4,823 September 30, 2022 4,600 September 30, 2023 4,490 September 30, 2024 4,427 September 30, 2025 4,312 Thereafter 39,752 Total future minimum lease payments 62,404 Less remaining imputed interest 14,613 Operating lease liability $ 47,791 |
Leases Lease Assets and Liabili
Leases Lease Assets and Liabilities (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Leases [Abstract] | |
Lessee, Operating Leases [Text Block] | The following table represents the unaudited Consolidated Statements of Condition classification of the Company’s ROU assets and lease liabilities, lease costs and other lease information. September 30, 2020 December 31, 2019 Balance sheet: Operating lease asset classified as premises and equipment $ 43,180 $ 48,642 Operating lease liability classified as other liabilities 47,791 52,894 For the Three Months Ended For the Nine Months Ended September 30, 2020 September 30, 2019 September 30, 2020 September 30, 2019 Income statement: Operating lease cost classified as occupancy and equipment expense $ 1,545 $ 1,275 $ 4,281 $ 3,959 Weighted average lease term, in years 15.10 15.44 Weighted average discount rate 3.42 % 3.42 % Operating cash flows $ 2,007 $ 3,351 |
Fair Values of Assets and Lia_2
Fair Values of Assets and Liabilities (Tables) | 3 Months Ended | 9 Months Ended |
Sep. 30, 2020 | Sep. 30, 2020 | |
Fair Value Disclosures [Abstract] | ||
Fair Value Inputs, Assets, Quantitative Information | In accordance with ASU No. 2011-4, the following table provides information related to quantitative inputs and assumptions used in Level 3 fair value measurements. Fair Value (dollars Valuation Unobservable Inputs Range / September 30, 2020 Other Investments $ 1,670 CarryingValue N/A N/A Impaired Loans 758 (a) Gas Reserve Study Discount rate 10.00% Gas per MMBTU $1.46 - $1.48 (b) Oil per BBL/d $36.00 - $36.00 (b) Limited Partnership Investments 6,546 Par Value N/A N/A December 31, 2019 Other Investments $ 1,670 CarryingValue N/A N/A Impaired Loans 884 (a) Gas Reserve Study Discount rate 10.00% Gas per MMBTU $2.61 - $3.49 (b) Oil per BBL/d $47.09 - $53.14 (b) 2,239 Discounted Cash Flow Discount Rate $3.84 - $9.50 Limited Partnership Investments 5,795 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, 2020 Level 1 Level 2 Level 3 Total (dollars in thousands) Obligations of U.S. Government Agencies: Mortgage-Backed Securities - Residential $ — $ 7,541 $ — $ 7,541 Mortgage-Backed Securities - Commercial — 218,552 — 218,552 Obligations of U.S. Government-Sponsored Enterprises: Mortgage-Backed Securities - Residential — 543,543 — 543,543 Other Government-Sponsored Enterprises — 100,993 — 100,993 Obligations of States and Political Subdivisions — 13,167 — 13,167 Corporate Securities — 24,440 — 24,440 Total Securities Available for Sale — 908,236 — 908,236 Other Investments — 11,296 1,670 12,966 Loans Held for Sale — 37,998 — 37,998 Premises and Equipment, net — 442 — 442 Other Assets (a) — 60,563 6,546 67,109 Total Assets $ — $ 1,018,535 $ 8,216 $ 1,026,751 Other Liabilities (a) $ — $ 67,241 $ — $ 67,241 Total Liabilities $ — $ 67,241 $ — $ 67,241 (a) Hedging and non-hedging interest rate derivatives and limited partnership investments December 31, 2019 Level 1 Level 2 Level 3 Total (dollars in thousands) Obligations of U.S. Government Agencies: Mortgage-Backed Securities - Residential $ — $ 8,341 $ — $ 8,341 Mortgage-Backed Securities - Commercial — 189,133 — 189,133 Obligations of U.S. Government-Sponsored Enterprises: Mortgage-Backed Securities - Residential — 661,947 — 661,947 Other Government-Sponsored Enterprises — 1,000 — 1,000 Obligations of States and Political Subdivisions — 17,909 — 17,909 Corporate Securities — 23,962 — 23,962 Total Securities Available for Sale — 902,292 — 902,292 Other Investments — 15,091 1,670 16,761 Loans Held for Sale — 15,989 — 15,989 Other Assets (a) — 21,894 5,795 27,689 Total Assets $ — $ 955,266 $ 7,465 $ 962,731 Other Liabilities (a) $ — $ 21,469 $ — $ 21,469 Total Liabilities $ — $ 21,469 $ — $ 21,469 | |
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, 2020 Level 1 Level 2 Level 3 Total (dollars in thousands) Impaired loans $ — $ 28,793 $ 13,517 $ 42,310 Other real estate owned — 1,183 — 1,183 Total Assets $ — $ 29,976 $ 13,517 $ 43,493 December 31, 2019 Level 1 Level 2 Level 3 Total (dollars in thousands) Impaired loans $ — $ 12,267 $ 17,518 $ 29,785 Other real estate owned — 2,608 — 2,608 Total Assets $ — $ 14,875 $ 17,518 $ 32,393 | |
Losses Realized on Assets Measured on Non-Recurring Basis | The following losses were realized on the assets measured on a nonrecurring basis: For the Three Months Ended September 30, For the Nine Months Ended September 30, 2020 2019 2020 2019 (dollars in thousands) Impaired loans 2 $ (3,695) $ (954) $ (9,940) $ (2,606) Other real estate owned (4) (42) (4) (51) Total losses $ (3,699) $ (996) $ (9,944) $ (2,657) | |
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, 2020 Fair Value Measurements Using: Carrying Total Level 1 Level 2 Level 3 (dollars in thousands) Financial assets Cash and due from banks $ 97,060 $ 97,060 $ 97,060 $ — $ — Interest-bearing deposits 283,037 283,037 283,037 — — Securities available for sale 908,236 908,236 — 908,236 — Securities held to maturity 268,638 276,988 — 276,988 — Other investments 12,966 12,966 — 11,296 1,670 Loans held for sale 37,998 37,998 — 37,998 — Loans 6,949,716 7,391,037 — 28,793 7,362,244 Financial liabilities Deposits 7,703,907 7,707,618 — 7,707,618 — Short-term borrowings 122,356 121,828 — 121,828 — Subordinated debt 170,572 164,565 — — 164,565 Long-term debt 56,424 58,372 — 58,372 — Capital lease obligation 6,494 6,494 — 6,494 — December 31, 2019 Fair Value Measurements Using: Carrying Total Level 1 Level 2 Level 3 (dollars in thousands) Financial assets Cash and due from banks $ 102,346 $ 102,346 $ 102,346 $ — $ — Interest-bearing deposits 19,510 19,510 19,510 — — Securities available for sale 902,292 902,292 — 902,292 — Securities held to maturity 337,123 338,718 — 338,718 — Other investments 16,761 16,761 — 15,091 1,670 Loans held for sale 15,989 15,989 — 15,989 — Loans 6,189,148 6,393,872 — 12,267 6,381,605 Financial liabilities Deposits 6,677,615 6,677,595 — 6,677,595 — Short-term borrowings 201,853 201,151 — 201,151 — Subordinated debt 170,450 171,772 — — 171,772 Long-term debt 56,917 58,051 — 58,051 — Capital lease obligation 6,815 6,815 — 6,815 — | |
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis, Valuation Techniques | 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: 2020 Other Investments Other Total (dollars in thousands) Balance, beginning of period $ 1,670 $ 5,795 $ 7,465 Total gains or losses Included in earnings — — — Included in other comprehensive income — — — Purchases, issuances, sales and settlements Purchases — 751 751 Issuances — — — Sales — — — Settlements — — — Transfers from Level 3 — — — Transfers into Level 3 — — — Balance, end of period $ 1,670 $ 6,546 $ 8,216 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 During the nine months ended September 30, 2020 and 2019, 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, 2020 and 2019. 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: 2020 Other Investments Other Total (dollars in thousands) Balance, beginning of period $ 1,670 $ 6,406 $ 8,076 Total gains or losses Included in earnings — — — Included in other comprehensive income — — — Purchases, issuances, sales and settlements Purchases — 140 140 Issuances — — — Sales — — — Settlements — — — Transfers from Level 3 — — — Transfers into Level 3 — — — Balance, end of period $ 1,670 $ 6,546 $ 8,216 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 |
Derivatives (Tables)
Derivatives (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
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, 2020 December 31, 2019 (dollars in thousands) Derivatives not Designated as Hedging Instruments Credit value adjustment $ (2,394) $ (272) Notional amount: Interest rate derivatives 610,994 587,275 Interest rate caps 75,685 87,188 Interest rate collars 35,354 35,354 Risk participation agreements 228,853 164,632 Sold credit protection on risk participation agreements (78,656) (69,011) Interest rate options 49,105 25,460 Derivatives Designated as Hedging Instruments Interest rate swaps: Fair value adjustment (4,091) 801 Notional amount 70,000 70,000 Interest rate forwards: Fair value adjustment (195) (63) Notional amount 42,000 30,000 Foreign exchange forwards: Fair value adjustment 2 (41) Notional amount 2,362 4,789 |
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 unaudited Consolidated Statements of Income: For the Three Months Ended September 30, For the Nine Months Ended September 30, 2020 2019 2020 2019 (dollars in thousands) Non-hedging interest rate derivatives Increase (decrease) in other income $ 142 $ (33) $ (611) $ 420 Increase in other expense — — — — Hedging interest rate derivatives Decrease in interest and fees on loans — — — (118) Increase (decrease) in interest from subordinated debentures 208 (70) 219 (70) Increase in other expense — — — 7 Hedging interest rate forwards (Decrease) increase in other income (102) 201 132 122 Increase in other expense — — — — Hedging foreign exchange forwards Increase in other expense 3 3 15 4 |
Subordinated Debentures Subor_2
Subordinated Debentures Subordinated Debentures Outstanding (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Revenue Recognition and Deferred Revenue [Abstract] | |
Schedule of Subordinated Borrowing [Table Text Block] | Subordinated debentures outstanding are as follows: September 30, 2020 December 31, 2019 Due Amount Rate Amount Rate (dollars in thousands) Owed to: First Commonwealth Bank 2028 $ 49,291 4.875% until June 1, 2023, then LIBOR + 1.845% $ 49,222 4.875% until June 1, 2023, then LIBOR + 1.845% First Commonwealth Bank 2033 49,114 5.50% until June 1, 2028, then LIBOR + 2.37% 49,061 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 $ 170,572 $ 170,450 |
Revenue Recognition Revenue Rec
Revenue Recognition Revenue Recogntion (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
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, 2020 2019 2020 2019 (dollars in thousands) Noninterest Income In-scope of Topic 606: Trust income $ 2,554 $ 2,325 $ 6,774 $ 6,221 Service charges on deposit accounts 4,035 4,954 12,066 13,792 Insurance and retail brokerage commissions 2,156 1,912 5,982 5,887 Card-related interchange income 6,441 5,629 17,589 15,800 Gain on sale of other loans and assets 520 181 853 861 Other income 945 937 2,713 2,789 Noninterest Income (in-scope of Topic 606) 16,651 15,938 45,977 45,350 Noninterest Income (out-of-scope of Topic 606) 10,118 6,241 21,877 17,607 Total Noninterest Income $ 26,769 $ 22,179 $ 67,854 $ 62,957 |
Business Combinations (Details)
Business Combinations (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | Dec. 31, 2019 | |
Business Combinations [Abstract] | |||||
Payments to Acquire Businesses, Net of Cash Acquired | $ 329,533 | ||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Cash and Equivalents | $ 2,935 | ||||
Business Combination, Acquired Receivables, Gross Contractual Amount | 101,200 | ||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment | 3,637 | ||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | 5,615 | ||||
BusinessCombinationRecognizedIdentifiableAssetsAcquiredandLiabilitiesAssumedOtherAssets | 770 | ||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets | 112,913 | ||||
Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed, Deposits Contractual Amount | 471,386 | ||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Other | 186 | ||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities | 471,572 | ||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net | $ (358,659) | ||||
Goodwill, Acquired During Period | 29,126 | ||||
COVID-19 Related Expenses | $ 125 | $ 0 | $ 567 | $ 0 |
Business Combinations (Detail_2
Business Combinations (Details) - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2019 | Dec. 31, 2019 | |
Business Combinations [Abstract] | ||
Payments to Acquire Businesses, Net of Cash Acquired | $ 329,533 | |
Business Combination, Acquired Receivables, Gross Contractual Amount | $ 101,200 | |
Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed, Deposits Contractual Amount | 471,386 | |
Business Combination Acquired Receivables Fair Value Adjustment | (1,200) | |
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedDepositsGross | 471,000 | |
Business Combination, Recognized Identifiable Assets Acquired And Liabilities Assumed, Deposits Fair Value Adjustment | 400 | |
Goodwill, Acquired During Period | 29,126 | |
Business Combination, Acquisition Related Costs | $ 3,700 | |
Business Combination, Acquired Receivable, Fair Value | $ 99,956 |
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, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
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) | (15,821,469) | (15,496,941) | (15,761,114) | (15,396,215) |
Weighted Average Number of Shares, Deferred Compensation Plans | (45,454) | (37,411) | (41,790) | (37,411) |
Average unearned nonvested shares | (130,883) | (113,321) | (121,249) | (117,737) |
Weighted average common shares and common stock equivalents used to calculate basic earnings per share (in shares) | 97,917,096 | 98,267,229 | 97,990,749 | 98,363,539 |
Additional common stock equivalents (nonvested stock) used to calculate diluted earnings per share | 197,545 | 243,258 | 188,255 | 214,837 |
Weighted Average Number Of Additional Shares Deferred Compensation Plan | 45,502 | 37,411 | 45,502 | 37,411 |
Weighted average common shares and common stock equivalents used to calculate diluted earnings per share (in shares) | 98,160,143 | 98,547,898 | 98,224,506 | 98,615,787 |
Basic Earnings per Share (in dollars per share) | $ 0.20 | $ 0.27 | $ 0.49 | $ 0.80 |
Diluted Earnings per Share (in dollars per share) | $ 0.20 | $ 0.27 | $ 0.49 | $ 0.80 |
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, 2020 | Sep. 30, 2019 | |
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) | 110,068 | 95,054 |
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) | 102,844 | 24,782 |
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 | $ 13.72 | $ 12.99 |
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 | 12.43 | 16.62 |
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 | 15.44 |
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 | $ 15.37 | $ 16.62 |
Commitments and Contingent Li_3
Commitments and Contingent Liabilities - Notional Amount of Outstanding Commitments (Detail) - USD ($) $ in Thousands | Sep. 30, 2020 | Dec. 31, 2019 |
Commitments to extend credit [Member] | ||
Loss Contingencies [Line Items] | ||
Financial instrument of credit risk | $ 2,080,476 | $ 1,981,275 |
Financial standby letters of credit [Member] | ||
Loss Contingencies [Line Items] | ||
Financial instrument of credit risk | 13,879 | 16,630 |
Performance standby letters of credit [Member] | ||
Loss Contingencies [Line Items] | ||
Financial instrument of credit risk | 17,914 | 23,293 |
Commercial letters of credit [Member] | ||
Loss Contingencies [Line Items] | ||
Financial instrument of credit risk | $ 470 | $ 783 |
Commitments and Contingent Li_4
Commitments and Contingent Liabilities - Additional Information (Detail) - USD ($) | Sep. 30, 2020 | Dec. 31, 2019 |
Loss Contingencies [Line Items] | ||
Notional Amount Of Performance Standby Letters Of Credit | $ 245,000 | |
Notional Amount Of Commercial Letters Of Credit | 0 | |
Notional Amount Of Financial Standby Letters Of Credit | 641,000 | |
Financial instrument of credit risk | 100,000 | $ 100,000 |
Unfunded commitment liability | 3,400,000 | $ 4,500,000 |
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, 2020 | Dec. 31, 2019 |
Investment Securities [Line Items] | ||
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, within One Year, Amortized Cost | $ 104,991 | |
Amortized Cost | 880,416 | $ 896,495 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | 27,832 | 8,906 |
Gross Unrealized Losses | (12) | (3,109) |
Securities available for sale, at fair value | 908,236 | 902,292 |
Due within one year, Estimated Fair Value | 105,041 | |
Due after one but within five years, Amortized Cost | 20,225 | |
Due after one but within five years, Estimated Fair Value | 21,260 | |
Due after five but within ten years, Amortized Cost | 7,127 | |
Due after five but within ten years, Estimated Fair Value | 7,749 | |
Due after ten years, Amortized Cost | 4,550 | |
Due after ten years, Estimated Fair Value | 4,550 | |
Due within one year, Amortized Cost | 136,893 | |
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Fair Value | 138,600 | |
Debt Securities, Available-for-sale, Maturity, without Single Maturity Date, Amortized Cost | 743,523 | |
Debt Securities, Available-for-sale, Maturity, without Single Maturity Date, Fair Value | 769,636 | |
US Government Agencies Residential Mortgage-backed Securities [Member] | ||
Investment Securities [Line Items] | ||
Amortized Cost | 216,000 | |
Securities available for sale, at fair value | 226,100 | |
Residential Mortgage Backed Securities [Member] | ||
Investment Securities [Line Items] | ||
Securities available for sale, at fair value | 543,543 | 661,947 |
Obligations of U.S. Government-Sponsored Enterprises - Other Government-Sponsored Enterprises [Member] | ||
Investment Securities [Line Items] | ||
Securities available for sale, at fair value | 100,993 | 1,000 |
Obligations of States and Political Subdivisions [Member] | ||
Investment Securities [Line Items] | ||
Securities available for sale, at fair value | 13,167 | 17,909 |
Corporate Debt Securities [Member] | ||
Investment Securities [Line Items] | ||
Securities available for sale, at fair value | 24,440 | 23,962 |
Debt Securities [Member] | ||
Investment Securities [Line Items] | ||
Amortized Cost | 880,416 | |
Securities available for sale, at fair value | 908,236 | |
US Government Agency Debt Securities Commercial [Domain] | ||
Investment Securities [Line Items] | ||
Amortized Cost | 209,175 | 186,316 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | 9,377 | 2,983 |
Gross Unrealized Losses | 0 | (166) |
Securities available for sale, at fair value | 218,552 | 189,133 |
Corporate Debt Securities [Member] | ||
Investment Securities [Line Items] | ||
Amortized Cost | 22,935 | 22,919 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | 1,505 | 1,043 |
Gross Unrealized Losses | 0 | 0 |
Securities available for sale, at fair value | 24,440 | 23,962 |
Obligations of States and Political Subdivisions [Member] | ||
Investment Securities [Line Items] | ||
Amortized Cost | 12,965 | 17,738 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | 208 | 171 |
Gross Unrealized Losses | (6) | 0 |
Securities available for sale, at fair value | 13,167 | 17,909 |
Obligations of U.S. Government-Sponsored Enterprises - Other Government-Sponsored Enterprises [Member] | ||
Investment Securities [Line Items] | ||
Amortized Cost | 100,993 | 1,000 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | 2 | 0 |
Gross Unrealized Losses | (2) | 0 |
Securities available for sale, at fair value | 100,993 | 1,000 |
Residential Mortgage Backed Securities [Member] | ||
Investment Securities [Line Items] | ||
Amortized Cost | 527,570 | 660,777 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | 15,977 | 4,113 |
Gross Unrealized Losses | (4) | (2,943) |
Securities available for sale, at fair value | 543,543 | 661,947 |
US Government Agencies Residential Mortgage-backed Securities [Member] | ||
Investment Securities [Line Items] | ||
Amortized Cost | 6,778 | 7,745 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | 763 | 596 |
Gross Unrealized Losses | 0 | 0 |
Securities available for sale, at fair value | $ 7,541 | $ 8,341 |
Investment Securities - Amortiz
Investment Securities - Amortized Cost and Estimated Fair Value of Debt Securities Available for Sale (Detail) - USD ($) $ in Thousands | Sep. 30, 2020 | Dec. 31, 2019 |
Net Investment Income [Line Items] | ||
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Fair Value | $ 138,600 | |
Due after five but within ten years, Amortized Cost | 7,127 | |
Due after one but within five years, Amortized Cost | 20,225 | |
Debt Securities, Available-for-sale, Maturity, without Single Maturity Date, Amortized Cost | 743,523 | |
Due within one year, Amortized Cost | 136,893 | |
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, within One Year, Amortized Cost | 104,991 | |
Due after ten years, Amortized Cost | 4,550 | |
Corporate/Mortgage-Backed Securities, Amortized cost | 769,636 | |
Amortized Cost | 880,416 | $ 896,495 |
Due within one year, Estimated Fair Value | 105,041 | |
Due after one but within five years, Estimated Fair Value | 21,260 | |
Due after five but within ten years, Estimated Fair Value | 7,749 | |
Due after ten years, Estimated Fair Value | 4,550 | |
Securities available for sale, at fair value | 908,236 | 902,292 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | 27,832 | 8,906 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax | 12 | 3,109 |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Net Investment Income [Line Items] | ||
Amortized Cost | 527,600 | |
Securities available for sale, at fair value | 543,500 | |
Debt Securities [Member] | ||
Net Investment Income [Line Items] | ||
Amortized Cost | 880,416 | |
Securities available for sale, at fair value | 908,236 | |
Corporate Debt Securities [Member] | ||
Net Investment Income [Line Items] | ||
Securities available for sale, at fair value | 24,440 | 23,962 |
Obligations of States and Political Subdivisions [Member] | ||
Net Investment Income [Line Items] | ||
Securities available for sale, at fair value | 13,167 | 17,909 |
Obligations of U.S. Government-Sponsored Enterprises - Other Government-Sponsored Enterprises [Member] | ||
Net Investment Income [Line Items] | ||
Securities available for sale, at fair value | 100,993 | 1,000 |
Residential Mortgage Backed Securities [Member] | ||
Net Investment Income [Line Items] | ||
Securities available for sale, at fair value | 543,543 | $ 661,947 |
US Government Agencies Debt Securities [Member] | ||
Net Investment Income [Line Items] | ||
Amortized Cost | 216,000 | |
Securities available for sale, at fair value | $ 226,100 |
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, 2020 | Dec. 31, 2019 |
Investment Securities [Line Items] | ||
Amortized Cost | $ 880,416 | $ 896,495 |
Securities available for sale, at fair value | 908,236 | 902,292 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | 27,832 | 8,906 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax | 12 | 3,109 |
Obligations of U.S. Government-Sponsored Enterprises - Other Government-Sponsored Enterprises [Member] | ||
Investment Securities [Line Items] | ||
Amortized Cost | 100,993 | 1,000 |
Securities available for sale, at fair value | 100,993 | 1,000 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | 2 | 0 |
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 | 216,000 | |
Securities available for sale, at fair value | 226,100 | |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Investment Securities [Line Items] | ||
Amortized Cost | 527,600 | |
Securities available for sale, at fair value | 543,500 | |
Debt Securities [Member] | ||
Investment Securities [Line Items] | ||
Amortized Cost | 880,416 | |
Securities available for sale, at fair value | $ 908,236 |
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, 2020 | Sep. 30, 2019 | |
Investments, Debt and Equity Securities [Abstract] | ||
Proceeds from Sale of Available-for-sale Securities | $ 0 | $ 0 |
Sales Transactions: | ||
Available-for-sale Securities, Gross Realized Gains | 0 | 0 |
Gross losses | 0 | 0 |
Available-for-sale Securities, Gross Realized Gain (Loss), Excluding Other than Temporary Impairments | 0 | 0 |
Maturities and impairment | ||
Gross Gains | 47 | 15 |
Gross Losses | 0 | 0 |
Gain Losses Maturities And Impairment | 47 | 15 |
Net gains and impairment | $ 47 | $ 15 |
Investment Securities - Additio
Investment Securities - Additional Information (Detail) - USD ($) $ in Thousands | 9 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Dec. 31, 2019 | |
Investments, Debt and Equity Securities [Abstract] | |||
Available-for-sale Securities, Gross Realized Gain (Loss), Excluding Other than Temporary Impairments | $ 0 | $ 0 | |
Gain Losses Maturities And Impairment | 47 | 15 | |
Available-for-sale Securities, Gross Realized Gains | 0 | 0 | |
Gross Losses | 0 | 0 | |
Gross Gains | 47 | 15 | |
Debt Securities, Held-to-maturity, Restricted | 257,600 | $ 306,800 | |
Proceeds from Sale of Available-for-sale Securities | 0 | $ 0 | |
Debt Securities, Available-for-sale, Restricted | $ 865,100 | $ 584,800 |
Investment Securities Schedule
Investment Securities Schedule of Held-to-Maturity Securities (Details) - USD ($) $ in Thousands | Sep. 30, 2020 | Dec. 31, 2019 |
Schedule of Held-to-maturity Securities [Line Items] | ||
Due within 1 year | $ 4,949 | |
Debt Securities, Held-to-maturity, Maturity, Allocated and Single Maturity Date, within One Year, Fair Value | 4,974 | |
Debt Securities, Held-to-maturity, Accumulated Unrecognized Gain | 8,370 | $ 2,073 |
Debt Securities, Held-to-maturity | 268,638 | 337,123 |
Securities held to maturity, fair value | 276,988 | $ 338,718 |
Due after 1 but within 5 years | 11,195 | |
Due after 5 but within 10 years | 19,760 | |
Debt Securities, Held-to-maturity, Maturity, Allocated and Single Maturity Date, after Five Through Ten Years, Fair Value | 20,232 | |
Debt Securities, Held-to-maturity, Maturity, Allocated and Single Maturity Date, after One Through Five Years, Fair Value | 11,310 | |
Due after 10 years | 7,029 | |
Debt Securities, Held-to-maturity, Maturity, Allocated and Single Maturity Date, after 10 Years, Fair Value | 7,077 | |
Debt Securities, Held-to-maturity, Maturity, Allocated and Single Maturity Date, Amortized Cost | 42,933 | |
Debt Securities, Held-to-maturity, Maturity, Allocated and Single Maturity Date, Fair Value | 43,593 | |
Debt Securities, Held-to-maturity, Maturity, without Single Maturity Date, Amortized Cost | 225,705 | |
Debt Securities, Held-to-maturity, Maturity, without Single Maturity Date, Fair Value | 233,395 | |
US Government Agencies Residential Mortgage-backed Securities [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Debt Securities, Held-to-maturity | 44,300 | |
Securities held to maturity, fair value | 46,000 | |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Debt Securities, Held-to-maturity | 181,400 | |
Securities held to maturity, fair value | $ 187,400 |
Investment Securities Held to M
Investment Securities Held to Maturity Securities by Type (Details) - USD ($) $ in Thousands | Sep. 30, 2020 | Dec. 31, 2019 |
Schedule of Held-to-maturity Securities [Line Items] | ||
Debt Securities, Held-to-maturity | $ 268,638 | $ 337,123 |
Debt Securities, Held-to-maturity, Accumulated Unrecognized Gain | 8,370 | 2,073 |
Debt Securities, Held-to-maturity, Accumulated Unrecognized Loss | (20) | (478) |
Securities held to maturity, fair value | 276,988 | 338,718 |
US Government Agencies Residential Mortgage-backed Securities [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Debt Securities, Held-to-maturity | 2,937 | 3,392 |
Debt Securities, Held-to-maturity, Accumulated Unrecognized Gain | 151 | 57 |
Debt Securities, Held-to-maturity, Accumulated Unrecognized Loss | 0 | 0 |
Securities held to maturity, fair value | 3,088 | 3,449 |
US Government Agency Debt Securities Commercial [Domain] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Debt Securities, Held-to-maturity | 41,334 | 51,291 |
Debt Securities, Held-to-maturity, Accumulated Unrecognized Gain | 1,537 | 18 |
Debt Securities, Held-to-maturity, Accumulated Unrecognized Loss | 0 | (184) |
Securities held to maturity, fair value | 42,871 | 51,125 |
Residential Mortgage Backed Securities [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Debt Securities, Held-to-maturity | 171,100 | 229,667 |
Debt Securities, Held-to-maturity, Accumulated Unrecognized Gain | 5,646 | 1,377 |
Debt Securities, Held-to-maturity, Accumulated Unrecognized Loss | (19) | (294) |
Securities held to maturity, fair value | 176,727 | 230,750 |
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 | 10,334 | 12,081 |
Debt Securities, Held-to-maturity, Accumulated Unrecognized Gain | 375 | 67 |
Debt Securities, Held-to-maturity, Accumulated Unrecognized Loss | 0 | 0 |
Securities held to maturity, fair value | 10,709 | 12,148 |
Obligations of States and Political Subdivisions [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Debt Securities, Held-to-maturity | 42,133 | 40,092 |
Debt Securities, Held-to-maturity, Accumulated Unrecognized Gain | 661 | 554 |
Debt Securities, Held-to-maturity, Accumulated Unrecognized Loss | (1) | 0 |
Securities held to maturity, fair value | 42,793 | 40,646 |
Debt Security, Government, Non-US [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Debt Securities, Held-to-maturity | 800 | 600 |
Debt Securities, Held-to-maturity, Accumulated Unrecognized Gain | 0 | 0 |
Debt Securities, Held-to-maturity, Accumulated Unrecognized Loss | 0 | 0 |
Securities held to maturity, fair value | $ 800 | $ 600 |
Impairment of Investment Securi
Impairment of Investment Securities - Additional Information (Detail) | 9 Months Ended | ||
Sep. 30, 2020USD ($) | Sep. 30, 2019USD ($) | Dec. 31, 2019USD ($) | |
Debt and Equity Securities, FV-NI [Line Items] | |||
Other than temporary impairment charges recognized | $ 0 | $ 0 | |
Amortized Cost | 880,416,000 | $ 896,495,000 | |
Securities available for sale, at fair value | 908,236,000 | 902,292,000 | |
Investment Securities, Continuous Unrealized Loss Position, Accumulated Loss | 32,000 | 3,587,000 | |
Federal Home Loan Bank Stock | 11,300,000 | 15,100,000 | |
Other Investments and Securities, at Cost | $ 1,700,000 | 1,700,000 | |
Investment Securities in Unrealized Loss Position, Qualitative Disclosure, Number of Positions, Total | 10 | ||
Corporate Debt Securities [Member] | |||
Debt and Equity Securities, FV-NI [Line Items] | |||
Securities available for sale, at fair value | $ 24,440,000 | 23,962,000 | |
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 | 78.00% | ||
Corporate Debt Securities [Member] | |||
Debt and Equity Securities, FV-NI [Line Items] | |||
Amortized Cost | $ 22,935,000 | 22,919,000 | |
Securities available for sale, at fair value | $ 24,440,000 | $ 23,962,000 | |
Investment Securities in Unrealized Loss Position, Qualitative Disclosure, Number of Positions, Total | 0 | 0 |
Impairment of Investment Secu_2
Impairment of Investment Securities - Schedule of Unrealized Losses and Estimated Fair Values (Detail) - USD ($) $ in Thousands | Sep. 30, 2020 | Dec. 31, 2019 |
Debt and Equity Securities, FV-NI [Line Items] | ||
Investment Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | $ 13,982 | $ 166,470 |
Investment Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | (32) | (637) |
Investment Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 0 | 235,380 |
Investment Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 0 | (2,950) |
Investment Securities, Continuous Unrealized Loss Position, Fair Value, Total | 13,982 | 401,850 |
Investment Securities, Continuous Unrealized Loss Position, Accumulated Loss | (32) | (3,587) |
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 | 54,501 | |
Investment Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | (201) | |
Investment Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 16,365 | |
Investment Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | (149) | |
Investment Securities, Continuous Unrealized Loss Position, Fair Value, Total | 70,866 | |
Investment Securities, Continuous Unrealized Loss Position, Accumulated Loss | (350) | |
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 | 10,777 | 111,969 |
Investment Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | (23) | (436) |
Investment Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 0 | 219,015 |
Investment Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 0 | (2,801) |
Investment Securities, Continuous Unrealized Loss Position, Fair Value, Total | 10,777 | 330,984 |
Investment Securities, Continuous Unrealized Loss Position, Accumulated Loss | (23) | $ (3,237) |
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) |
Loans and Allowance for Credi_2
Loans and Allowance for Credit Losses - Outstanding Balances of Loan (Detail) - USD ($) $ in Thousands | Sep. 30, 2020 | Dec. 31, 2019 | Sep. 30, 2019 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans and Leases Receivable, Net of Deferred Income | $ 6,949,716 | $ 6,189,148 | $ 6,099,561 |
Commercial, financial, agricultural and other [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans and Leases Receivable, Net of Deferred Income | 1,241,853 | ||
Real estate construction [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans and Leases Receivable, Net of Deferred Income | 449,039 | ||
Residential real estate [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans and Leases Receivable, Net of Deferred Income | 1,681,362 | ||
Commercial Real Estate [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans and Leases Receivable, Net of Deferred Income | 2,117,519 | ||
Loans to individuals [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans and Leases Receivable, Net of Deferred Income | 699,375 | ||
Originated Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans and Leases Receivable, Net of Deferred Income | 6,575,840 | 5,714,373 | |
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 | 1,711,614 | 1,212,026 | |
Originated Loans [Member] | Real estate construction [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans and Leases Receivable, Net of Deferred Income | 450,589 | 442,777 | |
Originated Loans [Member] | Residential real estate [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans and Leases Receivable, Net of Deferred Income | 1,534,949 | 1,415,808 | |
Originated Loans [Member] | Commercial Real Estate [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans and Leases Receivable, Net of Deferred Income | 2,088,217 | 1,958,346 | |
Originated Loans [Member] | Loans to individuals [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans and Leases Receivable, Net of Deferred Income | 790,471 | 685,416 | |
Acquired Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans and Leases Receivable, Net of Deferred Income | 373,876 | 474,775 | |
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 | 25,122 | 29,827 | |
Acquired Loans [Member] | Real estate construction [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans and Leases Receivable, Net of Deferred Income | 2,400 | 6,262 | |
Acquired Loans [Member] | Residential real estate [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans and Leases Receivable, Net of Deferred Income | 209,071 | 265,554 | |
Acquired Loans [Member] | Commercial Real Estate [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans and Leases Receivable, Net of Deferred Income | 127,094 | 159,173 | |
Acquired Loans [Member] | Loans to individuals [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans and Leases Receivable, Net of Deferred Income | $ 10,189 | $ 13,959 |
Loans and Allowance for Credi_3
Loans and Allowance for Credit Losses - Additional Information (Detail) - USD ($) | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | Dec. 31, 2019 | |
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 | $ 100,000 | $ 100,000 | $ 1,700,000 | ||
Off balance sheet reserve to nonperforming loans | 23,000 | 23,000 | 12,000 | ||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Sales | 0 | $ 0 | 0 | $ 0 | |
Total gains or losses included in earnings | 0 | 245,000 | 0 | 198,000 | |
Loans and Leases Receivable, Net of Deferred Income | 6,949,716,000 | 6,099,561,000 | 6,949,716,000 | 6,099,561,000 | 6,189,148,000 |
Originated Loans [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Charge-offs | 4,705,000 | $ 2,702,000 | 13,259,000 | 6,555,000 | |
Recorded investment | 47,673,000 | 47,673,000 | 29,698,000 | ||
Loans and Leases Receivable, Gross | 6,575,840,000 | 6,575,840,000 | 5,714,373,000 | ||
Loans and Leases Receivable, Net of Deferred Income | 6,575,840,000 | 6,575,840,000 | 5,714,373,000 | ||
Commercial, financial, agricultural and other [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans and Leases Receivable, Net of Deferred Income | 1,241,853,000 | ||||
Commercial, financial, agricultural and other [Member] | Originated Loans [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans and Leases Receivable, Net of Deferred Income | 1,711,614,000 | 1,711,614,000 | 1,212,026,000 | ||
Loans And Leases Receivable, Paycheck Protection Program | 573,500,000 | 573,500,000 | |||
Total Deferrals Still in Forbearance [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans and Leases Receivable, Gross | 65,400,000 | 65,400,000 | |||
Total Second Deferrals Granted [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans and Leases Receivable, Gross | $ 244,100,000 | $ 244,100,000 | |||
Loans and Leases Receivable, Number of Contracts | 136 | 136 | |||
Total Deferrals Granted [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans and Leases Receivable, Gross | $ 1,400,000,000 | $ 1,400,000,000 | |||
Loans and Leases Receivable, Number of Contracts | 6,500 | 6,500 | |||
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 | $ 766,000 | 149,000 | |||
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 | $ 0 | $ 400,000 |
Loans and Allowance for Credi_4
Loans and Allowance for Credit Losses - Credit Risk Profile by Creditworthiness (Detail) - USD ($) $ in Thousands | Sep. 30, 2020 | Dec. 31, 2019 |
Originated Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | $ 6,575,840 | $ 5,714,373 |
Originated Loans [Member] | Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 6,394,652 | 5,624,757 |
Originated Loans [Member] | Special Mention [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 107,420 | 43,393 |
Originated Loans [Member] | Substandard [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 73,768 | 46,223 |
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 | 181,188 | 89,616 |
Originated Loans [Member] | Commercial, financial, agricultural and other [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 1,711,614 | 1,212,026 |
Originated Loans [Member] | Commercial, financial, agricultural and other [Member] | Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 1,649,458 | 1,171,363 |
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 | 37,033 | 29,359 |
Originated Loans [Member] | Commercial, financial, agricultural and other [Member] | Substandard [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 25,123 | 11,304 |
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 | 62,156 | 40,663 |
Originated Loans [Member] | Real estate construction [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 450,589 | 442,777 |
Originated Loans [Member] | Real estate construction [Member] | Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 450,513 | 442,751 |
Originated Loans [Member] | Real estate construction [Member] | Special Mention [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 22 | 26 |
Originated Loans [Member] | Real estate construction [Member] | Substandard [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 54 | 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 | 76 | 26 |
Originated Loans [Member] | Residential real estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 1,534,949 | 1,415,808 |
Originated Loans [Member] | Residential real estate [Member] | Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 1,527,225 | 1,406,845 |
Originated Loans [Member] | Residential real estate [Member] | Special Mention [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 915 | 475 |
Originated Loans [Member] | Residential real estate [Member] | Substandard [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 6,809 | 8,488 |
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 | 7,724 | 8,963 |
Originated Loans [Member] | Commercial Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 2,088,217 | 1,958,346 |
Originated Loans [Member] | Commercial Real Estate [Member] | Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 1,977,234 | 1,918,690 |
Originated Loans [Member] | Commercial Real Estate [Member] | Special Mention [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 69,450 | 13,533 |
Originated Loans [Member] | Commercial Real Estate [Member] | Substandard [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 41,533 | 26,123 |
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 | 110,983 | 39,656 |
Originated Loans [Member] | Loans to individuals [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 790,471 | 685,416 |
Originated Loans [Member] | Loans to individuals [Member] | Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 790,222 | 685,108 |
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 | 249 | 308 |
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 | 249 | 308 |
Acquired Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 373,876 | 474,775 |
Acquired Loans [Member] | Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 366,107 | 463,784 |
Acquired Loans [Member] | Special Mention [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 1,347 | 5,183 |
Acquired Loans [Member] | Substandard [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 6,422 | 5,808 |
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 | 7,769 | 10,991 |
Acquired Loans [Member] | Commercial, financial, agricultural and other [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 25,122 | 29,827 |
Acquired Loans [Member] | Commercial, financial, agricultural and other [Member] | Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 23,405 | 27,696 |
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 | 196 | 2,009 |
Acquired Loans [Member] | Commercial, financial, agricultural and other [Member] | Substandard [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 1,521 | 122 |
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 | 1,717 | 2,131 |
Acquired Loans [Member] | Real estate construction [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 2,400 | 6,262 |
Acquired Loans [Member] | Real estate construction [Member] | Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 1,588 | 5,697 |
Acquired Loans [Member] | Real estate construction [Member] | Special Mention [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 504 | 565 |
Acquired Loans [Member] | Real estate construction [Member] | Substandard [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 308 | 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 | 812 | 565 |
Acquired Loans [Member] | Residential real estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 209,071 | 265,554 |
Acquired Loans [Member] | Residential real estate [Member] | Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 207,233 | 262,630 |
Acquired Loans [Member] | Residential real estate [Member] | Special Mention [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 511 | 537 |
Acquired Loans [Member] | Residential real estate [Member] | Substandard [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 1,327 | 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 | 1,838 | 2,924 |
Acquired Loans [Member] | Commercial Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 127,094 | 159,173 |
Acquired Loans [Member] | Commercial Real Estate [Member] | Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 123,703 | 153,814 |
Acquired Loans [Member] | Commercial Real Estate [Member] | Special Mention [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 136 | 2,072 |
Acquired Loans [Member] | Commercial Real Estate [Member] | Substandard [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 3,255 | 3,287 |
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 | 3,391 | 5,359 |
Acquired Loans [Member] | Loans to individuals [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 10,189 | 13,959 |
Acquired Loans [Member] | Loans to individuals [Member] | Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 10,178 | 13,947 |
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 | 11 | 12 |
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 | $ 11 | $ 12 |
Loans and Allowance for Credi_5
Loans and Allowance for Credit Losses - Age Analysis of Past Due Loans by Segment (Detail) - USD ($) $ in Thousands | Sep. 30, 2020 | Dec. 31, 2019 | Sep. 30, 2019 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total | $ 6,949,716 | $ 6,189,148 | $ 6,099,561 |
Commercial, financial, agricultural and other [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total | 1,736,736 | 1,210,936 | |
Real estate construction [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total | 452,989 | 420,281 | |
Residential real estate [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total | 1,744,020 | 1,666,220 | |
Commercial Real Estate [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total | 2,215,311 | 2,124,240 | |
Loans to individuals [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total | 800,660 | $ 677,884 | |
Acquired Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Financing Receivable Recorded Investment Equal To Or Greater Than Thirty Days Past Due | 3,048 | 3,385 | |
Financing Receivable, Not Past Due | 370,828 | 471,390 | |
Total | 373,876 | 474,775 | |
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 | 112 | 76 | |
Financing Receivable, Not Past Due | 25,010 | 29,751 | |
Total | 25,122 | 29,827 | |
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 | 308 | 0 | |
Financing Receivable, Not Past Due | 2,092 | 6,262 | |
Total | 2,400 | 6,262 | |
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 | 2,118 | 2,681 | |
Financing Receivable, Not Past Due | 206,953 | 262,873 | |
Total | 209,071 | 265,554 | |
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 | 369 | 405 | |
Financing Receivable, Not Past Due | 126,725 | 158,768 | |
Total | 127,094 | 159,173 | |
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 | 141 | 223 | |
Financing Receivable, Not Past Due | 10,048 | 13,736 | |
Total | 10,189 | 13,959 | |
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 | 469 | 392 | |
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 | 38 | 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 | 397 | 304 | |
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 | 34 | 87 | |
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 | 642 | 403 | |
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 | 459 | 207 | |
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 | 136 | 107 | |
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 | 47 | 89 | |
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 | 49 | 257 | |
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 | 0 | 1 | |
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 | 0 | 221 | |
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 | 49 | 35 | |
Acquired Loans [Member] | Non Accrual Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total past due and nonaccrual | 1,888 | 2,333 | |
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 | 74 | 74 | |
Acquired Loans [Member] | Non Accrual Loans [Member] | Real estate construction [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total past due and nonaccrual | 308 | 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 | 1,262 | 1,949 | |
Acquired Loans [Member] | Non Accrual Loans [Member] | Commercial Real Estate [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total past due and nonaccrual | 233 | 298 | |
Acquired Loans [Member] | Non Accrual Loans [Member] | Loans to individuals [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total past due and nonaccrual | 11 | 12 | |
Originated Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Financing Receivable Recorded Investment Equal To Or Greater Than Thirty Days Past Due | 51,110 | 34,741 | |
Financing Receivable, Not Past Due | 6,524,730 | 5,679,632 | |
Total | 6,575,840 | 5,714,373 | |
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 | 6,451 | 9,368 | |
Financing Receivable, Not Past Due | 1,705,163 | 1,202,658 | |
Total | 1,711,614 | 1,212,026 | |
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 | 54 | 207 | |
Financing Receivable, Not Past Due | 450,535 | 442,570 | |
Total | 450,589 | 442,777 | |
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 | 9,994 | 11,888 | |
Financing Receivable, Not Past Due | 1,524,955 | 1,403,920 | |
Total | 1,534,949 | 1,415,808 | |
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 | 30,751 | 6,950 | |
Financing Receivable, Not Past Due | 2,057,466 | 1,951,396 | |
Total | 2,088,217 | 1,958,346 | |
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 | 3,860 | 6,328 | |
Financing Receivable, Not Past Due | 786,611 | 679,088 | |
Total | 790,471 | 685,416 | |
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 | 6,503 | 8,643 | |
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 | 1,978 | 391 | |
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 | 198 | |
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 | 2,022 | 3,757 | |
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 | 517 | 227 | |
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 | 1,986 | 4,070 | |
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 | 2,645 | 1,940 | |
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 | 67 | 57 | |
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 | 1,554 | 749 | |
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 | 122 | 114 | |
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 | 902 | 1,020 | |
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 | 1,200 | 1,816 | |
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 | 17 | 140 | |
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 | 9 | |
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 | 458 | 736 | |
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 | 0 | 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 | 725 | 931 | |
Originated Loans [Member] | Non Accrual Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total past due and nonaccrual | 40,762 | 22,342 | |
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 | 4,389 | 8,780 | |
Originated Loans [Member] | Non Accrual Loans [Member] | Real estate construction [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total past due and nonaccrual | 54 | 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 | 5,960 | 6,646 | |
Originated Loans [Member] | Non Accrual Loans [Member] | Commercial Real Estate [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total past due and nonaccrual | 30,112 | 6,609 | |
Originated Loans [Member] | Non Accrual Loans [Member] | Loans to individuals [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total past due and nonaccrual | $ 247 | $ 307 |
Loans and Allowance for Credi_6
Loans and Allowance for Credit Losses - Recorded Investment and Unpaid Principal Balance for Impaired Loans with Associated Allowance (Detail) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2020USD ($)Contract | Sep. 30, 2019USD ($)Contract | Sep. 30, 2020USD ($)Contract | Sep. 30, 2019USD ($)Contract | Dec. 31, 2019USD ($) | |
Financing Receivable, Impaired [Line Items] | |||||
Number of Contracts | Contract | 17 | 6 | 33 | 26 | |
Total Pre-Modification Outstanding Recorded Investment | $ 1,309 | $ 217 | $ 1,781 | $ 7,381 | |
Post- Modification Outstanding Recorded Investment | 1,165 | 215 | 1,607 | 6,917 | |
Troubled Debt Restructuring [Policy Text Block] | 489 | 0 | 489 | 398 | |
Extended Maturity [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Total Pre-Modification Outstanding Recorded Investment | 0 | 0 | 0 | 17 | |
Contractual Interest Rate Reduction [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Total Pre-Modification Outstanding Recorded Investment | 705 | 32 | 776 | 149 | |
Contractual Payment Modification [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Total Pre-Modification Outstanding Recorded Investment | $ 604 | $ 185 | $ 1,005 | $ 7,215 | |
Loans to individuals [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Number of Contracts | Contract | 4 | 2 | 14 | 7 | |
Total Pre-Modification Outstanding Recorded Investment | $ 67 | $ 37 | $ 263 | $ 98 | |
Post- Modification Outstanding Recorded Investment | 63 | 34 | 245 | 87 | |
Troubled Debt Restructuring [Policy Text Block] | 0 | 0 | 0 | 0 | |
Loans to individuals [Member] | Extended Maturity [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Total Pre-Modification Outstanding Recorded Investment | 0 | 0 | 0 | 0 | |
Loans to individuals [Member] | Contractual Interest Rate Reduction [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Total Pre-Modification Outstanding Recorded Investment | 43 | 0 | 114 | 0 | |
Loans to individuals [Member] | Contractual Payment Modification [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Total Pre-Modification Outstanding Recorded Investment | 24 | 37 | 149 | 98 | |
Acquired Loans [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Impaired Financing Receivable, Average Recorded Investment | 3,306 | 7,481 | 3,447 | 5,031 | |
Impaired Financing Receivable, Interest Income, Accrual Method | 77 | 1 | 94 | 24 | |
Related allowance | 0 | 0 | $ 0 | ||
Recorded investment | 2,055 | 2,055 | 2,519 | ||
Unpaid principal balance | 2,447 | 2,447 | 2,993 | ||
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 | 0 | ||
Recorded investment | 0 | 0 | 0 | ||
Unpaid principal balance | 0 | 0 | 0 | ||
Acquired Loans [Member] | Commercial Financial Agricultural And Other With No Related Allowance [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Impaired Financing Receivable, Average Recorded Investment | 74 | 4,697 | 74 | 2,255 | |
Impaired Financing Receivable, Interest Income, Accrual Method | 0 | 0 | 0 | 0 | |
Recorded investment | 74 | 74 | 73 | ||
Unpaid principal balance | 74 | 74 | 73 | ||
Acquired Loans [Member] | Real Estate Construction With No Related Allowance [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Impaired Financing Receivable, Average Recorded Investment | 308 | 0 | 137 | 0 | |
Impaired Financing Receivable, Interest Income, Accrual Method | 0 | 0 | 0 | 0 | |
Recorded investment | 308 | 308 | 0 | ||
Unpaid principal balance | 308 | 308 | 0 | ||
Acquired Loans [Member] | Residential Real Estate With No Related Allowance [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Impaired Financing Receivable, Average Recorded Investment | 1,473 | 1,950 | 1,772 | 1,966 | |
Impaired Financing Receivable, Interest Income, Accrual Method | 1 | 1 | 18 | 6 | |
Recorded investment | 1,429 | 1,429 | 2,136 | ||
Unpaid principal balance | 1,794 | 1,794 | 2,585 | ||
Acquired Loans [Member] | Commercial Real Estate With No Related Allowance [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Impaired Financing Receivable, Average Recorded Investment | 1,440 | 666 | 1,453 | 636 | |
Impaired Financing Receivable, Interest Income, Accrual Method | 76 | 0 | 76 | 18 | |
Recorded investment | 233 | 233 | 298 | ||
Unpaid principal balance | 257 | 257 | 320 | ||
Acquired Loans [Member] | Loans To Individuals With No Related Allowance [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Impaired Financing Receivable, Average Recorded Investment | 11 | 13 | 11 | 14 | |
Impaired Financing Receivable, Interest Income, Accrual Method | 0 | 0 | 0 | 0 | |
Recorded investment | 11 | 11 | 12 | ||
Unpaid principal balance | 14 | 14 | 15 | ||
Acquired Loans [Member] | With No Related Allowance [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Impaired Financing Receivable, Average Recorded Investment | 3,306 | 7,326 | 3,447 | 4,871 | |
Impaired Financing Receivable, Interest Income, Accrual Method | 77 | 1 | 94 | 24 | |
Recorded investment | 2,055 | 2,055 | 2,519 | ||
Unpaid principal balance | 2,447 | 2,447 | 2,993 | ||
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 | 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 | 0 | 155 | 0 | 160 | |
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] | 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 | 0 | 155 | 0 | 160 | |
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] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Impaired Financing Receivable, Average Recorded Investment | 50,770 | 27,987 | 47,310 | 26,858 | |
Impaired Financing Receivable, Interest Income, Accrual Method | 127 | 131 | 403 | 474 | |
Related allowance | 7,418 | 7,418 | 2,432 | ||
Recorded investment | 47,673 | 47,673 | 29,698 | ||
Unpaid principal balance | 58,556 | 58,556 | 39,122 | ||
Originated Loans [Member] | Commercial Loan [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Impaired Financing Receivable, Average Recorded Investment | 6,423 | 4,677 | 4,569 | 4,064 | |
Impaired Financing Receivable, Interest Income, Accrual Method | 16 | 8 | 45 | 36 | |
Related allowance | 1,497 | 1,497 | 1,580 | ||
Recorded investment | 4,750 | 4,750 | 8,290 | ||
Unpaid principal balance | 12,778 | 12,778 | 10,032 | ||
Originated Loans [Member] | Commercial Financial Agricultural And Other With No Related Allowance [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Impaired Financing Receivable, Average Recorded Investment | 1,918 | 1,902 | 4,062 | 2,129 | |
Impaired Financing Receivable, Interest Income, Accrual Method | 10 | 3 | 15 | 10 | |
Recorded investment | 795 | 795 | 1,848 | ||
Unpaid principal balance | 987 | 987 | 6,997 | ||
Originated Loans [Member] | Real Estate Construction With No Related Allowance [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Impaired Financing Receivable, Average Recorded Investment | 18 | 0 | 6 | 0 | |
Impaired Financing Receivable, Interest Income, Accrual Method | 0 | 0 | 0 | 0 | |
Recorded investment | 54 | 54 | 0 | ||
Unpaid principal balance | 53 | 53 | 0 | ||
Originated Loans [Member] | Residential Real Estate With No Related Allowance [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Impaired Financing Receivable, Average Recorded Investment | 10,198 | 10,254 | 10,380 | 10,751 | |
Impaired Financing Receivable, Interest Income, Accrual Method | 72 | 86 | 235 | 280 | |
Recorded investment | 9,962 | 9,962 | 10,372 | ||
Unpaid principal balance | 11,965 | 11,965 | 12,437 | ||
Originated Loans [Member] | Commercial Real Estate With No Related Allowance [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Impaired Financing Receivable, Average Recorded Investment | 14,312 | 3,582 | 13,994 | 3,854 | |
Impaired Financing Receivable, Interest Income, Accrual Method | 23 | 28 | 90 | 129 | |
Recorded investment | 14,228 | 14,228 | 3,015 | ||
Unpaid principal balance | 14,523 | 14,523 | 3,210 | ||
Originated Loans [Member] | Loans To Individuals With No Related Allowance [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Impaired Financing Receivable, Average Recorded Investment | 494 | 389 | 469 | 356 | |
Impaired Financing Receivable, Interest Income, Accrual Method | 3 | 4 | 9 | 11 | |
Recorded investment | 495 | 495 | 406 | ||
Unpaid principal balance | 808 | 808 | 640 | ||
Originated Loans [Member] | With No Related Allowance [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Impaired Financing Receivable, Average Recorded Investment | 26,940 | 16,127 | 28,911 | 17,090 | |
Impaired Financing Receivable, Interest Income, Accrual Method | 108 | 121 | 349 | 430 | |
Recorded investment | 25,534 | 25,534 | 15,641 | ||
Unpaid principal balance | 28,336 | 28,336 | 23,284 | ||
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 | 0 | 740 | 0 | 347 | |
Impaired Financing Receivable, Interest Income, Accrual Method | 0 | 1 | 0 | 6 | |
Related allowance | 0 | 0 | 1 | ||
Recorded investment | 0 | 0 | 474 | ||
Unpaid principal balance | 0 | 0 | 498 | ||
Originated Loans [Member] | Commercial Real Estate With Related Allowance [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Impaired Financing Receivable, Average Recorded Investment | 17,407 | 6,443 | 13,830 | 5,357 | |
Impaired Financing Receivable, Interest Income, Accrual Method | 3 | 1 | 9 | 2 | |
Related allowance | 5,921 | 5,921 | 851 | ||
Recorded investment | 17,389 | 17,389 | 5,293 | ||
Unpaid principal balance | 17,442 | 17,442 | 5,308 | ||
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 | 23,830 | 11,860 | 18,399 | 9,768 | |
Impaired Financing Receivable, Interest Income, Accrual Method | 19 | $ 10 | 54 | $ 44 | |
Related allowance | 7,418 | 7,418 | 2,432 | ||
Recorded investment | 22,139 | 22,139 | 14,057 | ||
Unpaid principal balance | $ 30,220 | $ 30,220 | $ 15,838 |
Loans and Allowance for Credi_7
Loans and Allowance for Credit Losses - Troubled Debt Restructured Loans and Commitments (Detail) - USD ($) $ in Thousands | Sep. 30, 2020 | Dec. 31, 2019 |
Financing Receivable, Troubled Debt Restructurings [Line Items] | ||
Financing Receivable, Troubled Debt Restructuring | $ 11,589 | $ 13,579 |
Financing Receivable, Troubled Debt Restructuring, Commitment to Lend | 81 | 223 |
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 | 21 | 163 |
Accrual Loans [Member] [Member] | ||
Financing Receivable, Troubled Debt Restructurings [Line Items] | ||
Financing Receivable, Troubled Debt Restructuring | 7,078 | 7,542 |
Non Accrual Loans [Member] | ||
Financing Receivable, Troubled Debt Restructurings [Line Items] | ||
Financing Receivable, Troubled Debt Restructuring | $ 4,511 | $ 6,037 |
Loans and Allowance for Credi_8
Loans and Allowance for Credit Losses - Troubled Debt Restructurings Identified During Period (Detail) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2020USD ($)Contract | Sep. 30, 2019USD ($)Contract | Sep. 30, 2020USD ($)Contract | Sep. 30, 2019USD ($)Contract | |
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
Number of Contracts | Contract | 17 | 6 | 33 | 26 |
Total Pre-Modification Outstanding Recorded Investment | $ 1,309 | $ 217 | $ 1,781 | $ 7,381 |
Post- Modification Outstanding Recorded Investment | 1,165 | 215 | 1,607 | 6,917 |
Troubled Debt Restructuring [Policy Text Block] | $ 489 | $ 0 | $ 489 | $ 398 |
Commercial, financial, agricultural and other [Member] | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
Number of Contracts | Contract | 1 | 1 | 1 | 2 |
Total Pre-Modification Outstanding Recorded Investment | $ 629 | $ 95 | $ 629 | $ 156 |
Post- Modification Outstanding Recorded Investment | 625 | 96 | 625 | 157 |
Troubled Debt Restructuring [Policy Text Block] | $ 489 | $ 0 | $ 489 | $ 0 |
Residential real estate [Member] | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
Number of Contracts | Contract | 12 | 3 | 16 | 14 |
Total Pre-Modification Outstanding Recorded Investment | $ 613 | $ 85 | $ 877 | $ 1,008 |
Post- Modification Outstanding Recorded Investment | 477 | 85 | 729 | 933 |
Troubled Debt Restructuring [Policy Text Block] | $ 0 | $ 0 | $ 0 | $ 1 |
Commercial Real Estate [Member] | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
Number of Contracts | Contract | 2 | 3 | ||
Total Pre-Modification Outstanding Recorded Investment | $ 12 | $ 6,119 | ||
Post- Modification Outstanding Recorded Investment | 8 | 5,740 | ||
Troubled Debt Restructuring [Policy Text Block] | $ 0 | $ 397 | ||
Loans to individuals [Member] | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
Number of Contracts | Contract | 4 | 2 | 14 | 7 |
Total Pre-Modification Outstanding Recorded Investment | $ 67 | $ 37 | $ 263 | $ 98 |
Post- Modification Outstanding Recorded Investment | 63 | 34 | 245 | 87 |
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 | 0 | 0 | 17 |
Extended Maturity [Member] | Commercial, financial, agricultural and other [Member] | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
Total Pre-Modification Outstanding Recorded Investment | 0 | 0 | 0 | 0 |
Extended Maturity [Member] | Residential real estate [Member] | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
Total Pre-Modification Outstanding Recorded Investment | 0 | 0 | 0 | 17 |
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 | 705 | 32 | 776 | 149 |
Contractual Interest Rate Reduction [Member] | Commercial, financial, agricultural and other [Member] | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
Total Pre-Modification Outstanding Recorded Investment | 629 | 0 | 629 | 0 |
Contractual Interest Rate Reduction [Member] | Residential real estate [Member] | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
Total Pre-Modification Outstanding Recorded Investment | 33 | 32 | 33 | 149 |
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 | 43 | 0 | 114 | 0 |
Contractual Payment Modification [Member] | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
Total Pre-Modification Outstanding Recorded Investment | 604 | 185 | 1,005 | 7,215 |
Contractual Payment Modification [Member] | Commercial, financial, agricultural and other [Member] | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
Total Pre-Modification Outstanding Recorded Investment | 0 | 95 | 0 | 156 |
Contractual Payment Modification [Member] | Residential real estate [Member] | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
Total Pre-Modification Outstanding Recorded Investment | 580 | 53 | 844 | 842 |
Contractual Payment Modification [Member] | Commercial Real Estate [Member] | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
Total Pre-Modification Outstanding Recorded Investment | 12 | 6,119 | ||
Contractual Payment Modification [Member] | Loans to individuals [Member] | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
Total Pre-Modification Outstanding Recorded Investment | $ 24 | $ 37 | $ 149 | $ 98 |
Loans and Allowance for Credi_9
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, 2020USD ($)Contract | Sep. 30, 2019USD ($)Contract | Sep. 30, 2020USD ($)Contract | Sep. 30, 2019USD ($)Contract | |
Financing Receivable, Past Due [Line Items] | ||||
Financing Receivable, Troubled Debt Restructuring, Subsequent Default, Number of Contracts | Contract | 3 | 2 | 4 | 3 |
Financing Receivable, Troubled Debt Restructuring, Subsequent Default | $ | $ 190 | $ 49 | $ 240 | $ 70 |
Residential real estate [Member] | ||||
Financing Receivable, Past Due [Line Items] | ||||
Financing Receivable, Troubled Debt Restructuring, Subsequent Default, Number of Contracts | Contract | 0 | 2 | 1 | 3 |
Financing Receivable, Troubled Debt Restructuring, Subsequent Default | $ | $ 0 | $ 49 | $ 50 | $ 70 |
Loans to individuals [Member] | ||||
Financing Receivable, Past Due [Line Items] | ||||
Financing Receivable, Troubled Debt Restructuring, Subsequent Default, Number of Contracts | Contract | 2 | 0 | 2 | 0 |
Financing Receivable, Troubled Debt Restructuring, Subsequent Default | $ | $ 78 | $ 0 | $ 78 | $ 0 |
Commercial Real Estate [Member] | ||||
Financing Receivable, Past Due [Line Items] | ||||
Financing Receivable, Troubled Debt Restructuring, Subsequent Default, Number of Contracts | Contract | 1 | 0 | 1 | 0 |
Financing Receivable, Troubled Debt Restructuring, Subsequent Default | $ | $ 112 | $ 0 | $ 112 | $ 0 |
Loans and Allowance for Cred_10
Loans and Allowance for Credit Losses - Allowance for Credit Losses (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Dec. 31, 2019 | Sep. 30, 2019 | |
Accounts Receivable, Allowance for Credit Loss [Roll Forward] | |||||||
Provision for credit losses | $ (11,212) | $ (2,708) | $ (49,038) | $ (9,638) | |||
Ending Balance | $ 88,307 | $ 50,035 | |||||
Ending balance: individually evaluated for impaired | 7,418 | 1,546 | |||||
Ending balance: collectively evaluated for impaired | 80,889 | 48,489 | |||||
Total | 6,949,716 | $ 6,189,148 | 6,099,561 | ||||
Ending balance: individually evaluated for impaired | 36,969 | 25,344 | |||||
Ending balance: collectively evaluated for impaired | 6,912,747 | 6,074,217 | |||||
Residential real estate [Member] | |||||||
Accounts Receivable, Allowance for Credit Loss [Roll Forward] | |||||||
Ending Balance | 8,252 | 3,917 | |||||
Ending balance: individually evaluated for impaired | 4 | ||||||
Ending balance: collectively evaluated for impaired | 3,913 | ||||||
Total | 1,744,020 | 1,666,220 | |||||
Ending balance: individually evaluated for impaired | 4,102 | ||||||
Ending balance: collectively evaluated for impaired | 1,662,118 | ||||||
Commercial Real Estate [Member] | |||||||
Accounts Receivable, Allowance for Credit Loss [Roll Forward] | |||||||
Ending Balance | 42,244 | 19,048 | |||||
Ending balance: individually evaluated for impaired | 5,921 | 488 | |||||
Ending balance: collectively evaluated for impaired | 36,323 | 18,560 | |||||
Total | 2,215,311 | 2,124,240 | |||||
Ending balance: individually evaluated for impaired | 30,387 | 10,825 | |||||
Ending balance: collectively evaluated for impaired | 2,184,924 | 2,113,415 | |||||
Commercial, financial, agricultural and other [Member] | |||||||
Accounts Receivable, Allowance for Credit Loss [Roll Forward] | |||||||
Ending Balance | 25,488 | 19,947 | |||||
Ending balance: individually evaluated for impaired | 1,497 | 1,054 | |||||
Ending balance: collectively evaluated for impaired | 23,991 | 18,893 | |||||
Total | 1,736,736 | 1,210,936 | |||||
Ending balance: individually evaluated for impaired | 5,048 | 10,417 | |||||
Ending balance: collectively evaluated for impaired | 1,731,688 | 1,200,519 | |||||
Real estate construction [Member] | |||||||
Accounts Receivable, Allowance for Credit Loss [Roll Forward] | |||||||
Ending Balance | 3,508 | 2,410 | |||||
Ending balance: individually evaluated for impaired | 0 | 0 | |||||
Ending balance: collectively evaluated for impaired | 3,508 | 2,410 | |||||
Total | 452,989 | 420,281 | |||||
Ending balance: individually evaluated for impaired | 308 | 0 | |||||
Ending balance: collectively evaluated for impaired | 452,681 | 420,281 | |||||
Residential real estate [Member] | |||||||
Accounts Receivable, Allowance for Credit Loss [Roll Forward] | |||||||
Ending balance: individually evaluated for impaired | 0 | ||||||
Ending balance: collectively evaluated for impaired | 8,252 | ||||||
Ending balance: individually evaluated for impaired | 1,226 | ||||||
Ending balance: collectively evaluated for impaired | 1,742,794 | ||||||
Loans to individuals [Member] | |||||||
Accounts Receivable, Allowance for Credit Loss [Roll Forward] | |||||||
Ending Balance | 8,815 | 4,713 | |||||
Ending balance: individually evaluated for impaired | 0 | 0 | |||||
Ending balance: collectively evaluated for impaired | 8,815 | 4,713 | |||||
Total | 800,660 | 677,884 | |||||
Ending balance: individually evaluated for impaired | 0 | 0 | |||||
Ending balance: collectively evaluated for impaired | 800,660 | 677,884 | |||||
Acquired Loans [Member] | |||||||
Accounts Receivable, Allowance for Credit Loss [Roll Forward] | |||||||
Beginning Balance | 1,859 | 65 | 52 | 178 | |||
Charge-offs | (202) | (1,428) | (502) | (2,032) | |||
Recoveries | 28 | 32 | 76 | 113 | |||
Provision for credit losses | (293) | (1,360) | (2,352) | (1,770) | |||
Ending Balance | 1,859 | 65 | 52 | 178 | 1,978 | 52 | 29 |
Total | 373,876 | 474,775 | |||||
Acquired Loans [Member] | Residential real estate [Member] | |||||||
Accounts Receivable, Allowance for Credit Loss [Roll Forward] | |||||||
Beginning Balance | 0 | 25 | 2 | 35 | |||
Charge-offs | (122) | 0 | (213) | (46) | |||
Recoveries | 13 | 11 | 38 | 46 | |||
Provision for credit losses | (109) | 35 | (173) | 34 | |||
Ending Balance | 0 | 25 | 2 | 35 | 0 | 2 | 1 |
Total | 209,071 | 265,554 | |||||
Acquired Loans [Member] | Commercial Real Estate [Member] | |||||||
Accounts Receivable, Allowance for Credit Loss [Roll Forward] | |||||||
Beginning Balance | 1,356 | 25 | 37 | 4 | |||
Charge-offs | 0 | (1,376) | (2) | (1,376) | |||
Recoveries | 0 | 0 | 0 | 0 | |||
Provision for credit losses | (286) | (1,372) | (1,607) | (1,393) | |||
Ending Balance | 1,356 | 25 | 37 | 4 | 1,642 | 37 | 21 |
Total | 127,094 | 159,173 | |||||
Acquired Loans [Member] | Commercial, financial, agricultural and other [Member] | |||||||
Accounts Receivable, Allowance for Credit Loss [Roll Forward] | |||||||
Beginning Balance | 332 | 15 | 13 | 139 | |||
Charge-offs | 0 | (49) | 0 | (601) | |||
Recoveries | 13 | 21 | 28 | 53 | |||
Provision for credit losses | 9 | (20) | (295) | (416) | |||
Ending Balance | 332 | 15 | 13 | 139 | 336 | 13 | 7 |
Total | 25,122 | 29,827 | |||||
Acquired Loans [Member] | Real estate construction [Member] | |||||||
Accounts Receivable, Allowance for Credit Loss [Roll Forward] | |||||||
Beginning Balance | 171 | 0 | 0 | 0 | |||
Charge-offs | 0 | 0 | 0 | 0 | |||
Recoveries | 0 | 0 | 0 | 0 | |||
Provision for credit losses | 171 | 0 | 0 | 0 | |||
Ending Balance | 171 | 0 | 0 | 0 | 0 | 0 | 0 |
Total | 2,400 | 6,262 | |||||
Acquired Loans [Member] | Loans to individuals [Member] | |||||||
Accounts Receivable, Allowance for Credit Loss [Roll Forward] | |||||||
Beginning Balance | 0 | 0 | 0 | 0 | |||
Charge-offs | (80) | (3) | (287) | (9) | |||
Recoveries | 2 | 0 | 10 | 14 | |||
Provision for credit losses | (78) | (3) | (277) | 5 | |||
Ending Balance | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Total | 10,189 | 13,959 | |||||
Originated Loans [Member] | |||||||
Accounts Receivable, Allowance for Credit Loss [Roll Forward] | |||||||
Beginning Balance | 79,582 | 50,996 | 51,585 | 47,586 | |||
Charge-offs | (4,705) | (2,702) | (13,259) | (6,555) | |||
Recoveries | 533 | 364 | 1,317 | 1,107 | |||
Provision for credit losses | (10,919) | (1,348) | (46,686) | (7,868) | |||
Ending Balance | 79,582 | 50,996 | 51,585 | 47,586 | 86,329 | 51,585 | 50,006 |
Total | 6,575,840 | 5,714,373 | |||||
Originated Loans [Member] | Residential real estate [Member] | |||||||
Accounts Receivable, Allowance for Credit Loss [Roll Forward] | |||||||
Beginning Balance | 9,239 | 4,133 | 4,091 | 3,934 | |||
Charge-offs | (161) | (383) | (720) | (617) | |||
Recoveries | 153 | 6 | 274 | 190 | |||
Provision for credit losses | 979 | (160) | (4,607) | (409) | |||
Ending Balance | 9,239 | 4,133 | 4,091 | 3,934 | 8,252 | 4,091 | 3,916 |
Total | 1,534,949 | 1,415,808 | |||||
Originated Loans [Member] | Commercial Real Estate [Member] | |||||||
Accounts Receivable, Allowance for Credit Loss [Roll Forward] | |||||||
Beginning Balance | 33,130 | 19,287 | 19,731 | 18,382 | |||
Charge-offs | 0 | (6) | (2,415) | (305) | |||
Recoveries | 110 | 81 | 154 | 160 | |||
Provision for credit losses | (7,362) | 335 | (23,132) | (790) | |||
Ending Balance | 33,130 | 19,287 | 19,731 | 18,382 | 40,602 | 19,731 | 19,027 |
Total | 2,088,217 | 1,958,346 | |||||
Originated Loans [Member] | Commercial, financial, agricultural and other [Member] | |||||||
Accounts Receivable, Allowance for Credit Loss [Roll Forward] | |||||||
Beginning Balance | 24,812 | 20,678 | 20,221 | 19,235 | |||
Charge-offs | (3,395) | (742) | (5,166) | (1,584) | |||
Recoveries | 44 | 41 | 161 | 180 | |||
Provision for credit losses | (3,691) | 37 | (9,936) | (2,109) | |||
Ending Balance | 24,812 | 20,678 | 20,221 | 19,235 | 25,152 | 20,221 | 19,940 |
Total | 1,711,614 | 1,212,026 | |||||
Originated Loans [Member] | Real estate construction [Member] | |||||||
Accounts Receivable, Allowance for Credit Loss [Roll Forward] | |||||||
Beginning Balance | 3,067 | 2,491 | 2,558 | 2,002 | |||
Charge-offs | 0 | 0 | 0 | 0 | |||
Recoveries | 0 | 74 | 26 | 158 | |||
Provision for credit losses | (441) | 155 | (924) | (250) | |||
Ending Balance | 3,067 | 2,491 | 2,558 | 2,002 | 3,508 | 2,558 | 2,410 |
Total | 450,589 | 442,777 | |||||
Originated Loans [Member] | Loans to individuals [Member] | |||||||
Accounts Receivable, Allowance for Credit Loss [Roll Forward] | |||||||
Beginning Balance | 9,334 | 4,407 | 4,984 | 4,033 | |||
Charge-offs | (1,149) | (1,571) | (4,958) | (4,049) | |||
Recoveries | 226 | 162 | 702 | 419 | |||
Provision for credit losses | (404) | (1,715) | (8,087) | (4,310) | |||
Ending Balance | $ 9,334 | $ 4,407 | $ 4,984 | $ 4,033 | 8,815 | 4,984 | $ 4,713 |
Total | $ 790,471 | $ 685,416 |
Leases Operating Lease Assets a
Leases Operating Lease Assets and Liabilities (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | Dec. 31, 2019 | |
Leases [Abstract] | |||||
Operating Lease, Right-of-Use Asset | $ 43,180 | $ 43,180 | $ 48,642 | ||
Operating Lease, Liability | $ 47,791 | 47,791 | $ 52,894 | ||
Operating Lease, Cost | $ 2,007 | $ 3,351 | |||
Operating Lease, Weighted Average Remaining Lease Term | 15 years 1 month 6 days | 15 years 1 month 6 days | 15 years 5 months 8 days | ||
Operating Lease, Weighted Average Discount Rate, Percent | 3.42% | 3.42% | 3.42% | ||
Operating Leases, Rent Expense | $ 1,545 | $ 1,275 | $ 4,281 | $ 3,959 |
Leases Lease Liablity Maturity
Leases Lease Liablity Maturity (Details) - USD ($) $ in Thousands | Sep. 30, 2020 | Dec. 31, 2019 |
Leases [Abstract] | ||
Operating Leases, Future Minimum Payments Due, Next Twelve Months | $ 4,823 | |
Operating Leases, Future Minimum Payments, Due in Two Years | 4,600 | |
Operating Leases, Future Minimum Payments, Due in Three Years | 4,490 | |
Operating Leases, Future Minimum Payments, Due in Four Years | 4,427 | |
Operating Leases, Future Minimum Payments, Due in Five Years | 4,312 | |
Operating Leases, Future Minimum Payments, Due Thereafter | 39,752 | |
Operating Leases, Future Minimum Payments Due | 62,404 | |
Lessee, Operating Lease, Liability, Undiscounted Excess Amount | 14,613 | |
Operating Lease, Liability | $ 47,791 | $ 52,894 |
Leases Topic 842 Additional Inf
Leases Topic 842 Additional Information (Details) (Details) - USD ($) | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | Dec. 31, 2019 | |
Operating Leased Assets [Line Items] | |||||
Operating Lease, Right-of-Use Asset | $ 43,180,000 | $ 43,180,000 | $ 48,642,000 | ||
Operating Lease, Liability | 47,791,000 | 47,791,000 | 52,894,000 | ||
Operating Leases, Rent Expense | 1,545,000 | $ 1,275,000 | 4,281,000 | $ 3,959,000 | |
Gain (Loss) on Termination of Lease | (700,000) | ||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers out of Level 3 | $ 0 | $ 0 | 0 | $ 0 | |
Liability [Member] | |||||
Operating Leased Assets [Line Items] | |||||
Gain (Loss) on Contract Termination | 3,600,000 | ||||
Assets [Member] | |||||
Operating Leased Assets [Line Items] | |||||
Gain (Loss) on Contract Termination | $ 3,800,000 | ||||
Accounting Standards Update 2016-02 [Member] | |||||
Operating Leased Assets [Line Items] | |||||
Operating Lease, Right-of-Use Asset | 38,500,000 | ||||
Operating Lease, Liability | $ 41,800,000 |
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 | 12 Months Ended |
Sep. 30, 2020 | Dec. 31, 2019 | |
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Other Investments | $ 12,966,000 | $ 16,761,000 |
Assets | 1,026,751,000 | 962,731,000 |
Impaired Loans [Member] | Reserve Study [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Assets | $ 758,000 | $ 884,000 |
Impaired Loans [Member] | Reserve Study [Member] | Discount rates [Member] | Weighted average [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Discount Rate | 10.00% | 10.00% |
Impaired Loans [Member] | Reserve Study [Member] | Gas per MCF [Member] | Minimum [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Fair Value Inputs Monetary | $ 1.46 | $ 1.46 |
Impaired Loans [Member] | Reserve Study [Member] | Gas per MCF [Member] | Maximum [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Fair Value Inputs Monetary | 1.48 | 1.48 |
Impaired Loans [Member] | Reserve Study [Member] | Oil per BBL/d [Member] | Minimum [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Fair Value Inputs Monetary | 36 | 36 |
Impaired Loans [Member] | Reserve Study [Member] | Oil per BBL/d [Member] | Maximum [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Fair Value Inputs Monetary | 36 | 36 |
Impaired Loans [Member] | Discounted Cash Flow [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Assets | 0 | 2,239,000 |
Limited Partnership Investment [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Assets | 6,546,000 | 5,795,000 |
Level 3 [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Other Investments | 1,670,000 | 1,670,000 |
Assets | $ 8,216,000 | $ 7,465,000 |
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, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||||
Balance, beginning of period | $ 8,076 | $ 4,982 | $ 7,465 | $ 4,366 |
Total gains or losses included in earnings | 0 | 245 | 0 | 198 |
Total gains or losses included in other comprehensive income | 0 | 0 | 0 | 0 |
Purchases | 140 | 574 | 751 | 1,237 |
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 | 8,216 | 5,801 | 8,216 | 5,801 |
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers out of Level 3 | 0 | 0 | 0 | 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 | 6,406 | 3,312 | 5,795 | 2,696 |
Total gains or losses included in earnings | 0 | 245 | 0 | 198 |
Total gains or losses included in other comprehensive income | 0 | 0 | 0 | 0 |
Purchases | 140 | 574 | 751 | 1,237 |
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 | 6,546 | 4,131 | 6,546 | 4,131 |
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, 2020 | Dec. 31, 2019 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Securities available for sale, at fair value | $ 908,236 | $ 902,292 | ||
Other investments | 12,966 | 16,761 | ||
Loans Held for Sale | 37,998 | 15,989 | ||
Premises and equipment, net | 442 | |||
Other Assets | 67,109 | [1] | 27,689 | [2] |
Total Assets | 1,026,751 | 962,731 | ||
Other Liabilities | 67,241 | [1] | 21,469 | [2] |
Total Liabilities | 67,241 | 21,469 | ||
Limited Partnership Investment [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Total Assets | 6,546 | 5,795 | ||
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 | 7,541 | 8,341 | ||
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 | 218,552 | 189,133 | ||
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 | 543,543 | 661,947 | ||
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 | 100,993 | 1,000 | ||
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 | 13,167 | 17,909 | ||
Corporate Debt Securities [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Securities available for sale, at fair value | 24,440 | 23,962 | ||
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 | ||
Premises and equipment, net | 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 | 908,236 | 902,292 | ||
Other investments | 11,296 | 15,091 | ||
Loans Held for Sale | 37,998 | 15,989 | ||
Premises and equipment, net | 442 | |||
Other Assets | 60,563 | [1] | 21,894 | [2] |
Total Assets | 1,018,535 | 955,266 | ||
Other Liabilities | 67,241 | [1] | 21,469 | [2] |
Total Liabilities | 67,241 | 21,469 | ||
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 | 7,541 | 8,341 | ||
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 | 218,552 | 189,133 | ||
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 | 543,543 | 661,947 | ||
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 | 100,993 | 1,000 | ||
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 | 13,167 | 17,909 | ||
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 | 24,440 | 23,962 | ||
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 | ||
Premises and equipment, net | 0 | |||
Other Assets | 6,546 | [1] | 5,795 | [2] |
Total Assets | 8,216 | 7,465 | ||
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, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | Dec. 31, 2019 | |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||
Available-for-sale Securities | $ 908,236 | $ 908,236 | $ 902,292 | ||
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 | 250 | 250 | |||
Updated appraisal requirement floor | 250 | 250 | |||
Other real estate owned | 1,079 | 1,079 | 2,228 | ||
Financial instrument of credit risk | 100 | 100 | $ 100 | ||
Fair Value, Assets Measured on Recurring Basis, Gain (Loss) Included in Other Income, Assets and Liabilities Continue to be held | 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 | 0 | 245 | 0 | 198 | |
Derivatives mark to market | (160) | (45) | (2,122) | (88) | |
Forward Contracts [Member] | |||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||
Derivatives mark to market | 300 | 1,500 | |||
Forward Contracts [Member] | Designated as Hedging Instrument [Member] | |||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||
Derivatives mark to market | (102) | 201 | 132 | 122 | |
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 | $ 0 | $ 245 | $ 0 | $ 198 | |
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, 2020 | Dec. 31, 2019 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Assets | $ 1,026,751 | $ 962,731 |
Fair Value, Nonrecurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Impaired loans | 42,310 | 29,785 |
Other real estate owned | 1,183 | 2,608 |
Total Assets | 43,493 | 32,393 |
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 | 1,018,535 | 955,266 |
Level 2 [Member] | Fair Value, Nonrecurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Impaired loans | 28,793 | 12,267 |
Other real estate owned | 1,183 | 2,608 |
Total Assets | 29,976 | 14,875 |
Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Assets | 8,216 | 7,465 |
Level 3 [Member] | Fair Value, Nonrecurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Impaired loans | 13,517 | 17,518 |
Other real estate owned | 0 | 0 |
Total Assets | $ 13,517 | $ 17,518 |
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, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Fair Value Disclosures [Abstract] | ||||
Impaired loans | $ (3,695) | $ (954) | $ (9,940) | $ (2,606) |
Other real estate owned | (4) | (42) | (4) | (51) |
Total losses | $ (3,699) | $ (996) | $ (9,944) | $ (2,657) |
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, 2020 | Dec. 31, 2019 | Sep. 30, 2019 |
Fair Value Measurements Of Financial Instruments [Line Items] | |||
Cash and due from banks | $ 97,060 | $ 102,346 | |
Interest-bearing deposits | 283,037 | 19,510 | |
Securities available for sale, at fair value | 908,236 | 902,292 | |
Debt Securities, Held-to-maturity | 268,638 | 337,123 | |
Other investments | 12,966 | 16,761 | |
Loans and Leases Receivable, Net of Deferred Income | 6,949,716 | 6,189,148 | $ 6,099,561 |
Deposits | 7,703,907 | 6,677,615 | |
Short-term borrowings | 122,356 | 201,853 | |
Subordinated debt | 170,572 | 170,450 | |
Long-term debt | 56,424 | 56,917 | |
Capital Lease Obligations | 6,494 | 6,815 | |
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 | 908,236 | 902,292 | |
Other investments | 11,296 | 15,091 | |
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 | 97,060 | 102,346 | |
Interest-bearing deposits | 283,037 | 19,510 | |
Securities available for sale, at fair value | 908,236 | 902,292 | |
Debt Securities, Held-to-maturity | 268,638 | 337,123 | |
Other investments | 12,966 | 16,761 | |
Loans Held for sale, Amount | 37,998 | 15,989 | |
Loans and Leases Receivable, Net of Deferred Income | 6,949,716 | 6,189,148 | |
Deposits | 7,703,907 | 6,677,615 | |
Short-term borrowings | 122,356 | 201,853 | |
Subordinated debt | 170,572 | 170,450 | |
Long-term debt | 56,424 | 56,917 | |
Capital Lease Obligations | 6,494 | 6,815 | |
Estimate of Fair Value Measurement [Member] | |||
Fair Value Measurements Of Financial Instruments [Line Items] | |||
Cash and due from banks | 97,060 | 102,346 | |
Interest-bearing deposits | 283,037 | 19,510 | |
Securities available for sale, at fair value | 908,236 | 902,292 | |
Debt Securities, Held-to-maturity | 276,988 | 338,718 | |
Other investments | 12,966 | 16,761 | |
Loans Held for sale, Amount | 37,998 | 15,989 | |
Loans and Leases Receivable, Net of Deferred Income | 7,391,037 | 6,393,872 | |
Deposits | 7,707,618 | 6,677,595 | |
Short-term borrowings | 121,828 | 201,151 | |
Subordinated debt | 164,565 | 171,772 | |
Long-term debt | 58,372 | 58,051 | |
Capital Lease Obligations | 6,494 | 6,815 | |
Estimate of Fair Value Measurement [Member] | Level 1 [Member] | |||
Fair Value Measurements Of Financial Instruments [Line Items] | |||
Cash and due from banks | 97,060 | 102,346 | |
Interest-bearing deposits | 283,037 | 19,510 | |
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 | 908,236 | 902,292 | |
Debt Securities, Held-to-maturity | 276,988 | 338,718 | |
Other investments | 11,296 | 15,091 | |
Loans Held for sale, Amount | 37,998 | 15,989 | |
Loans and Leases Receivable, Net of Deferred Income | 28,793 | 12,267 | |
Deposits | 7,707,618 | 6,677,595 | |
Short-term borrowings | 121,828 | 201,151 | |
Subordinated debt | 0 | 0 | |
Long-term debt | 58,372 | 58,051 | |
Capital Lease Obligations | 6,494 | 6,815 | |
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 | 7,362,244 | 6,381,605 | |
Deposits | 0 | 0 | |
Short-term borrowings | 0 | 0 | |
Subordinated debt | 164,565 | 171,772 | |
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, 2020USD ($)Derivatives | Sep. 30, 2019USD ($) | Sep. 30, 2020USD ($)Derivatives | Sep. 30, 2019USD ($) | Dec. 31, 2019USD ($) | |
Risk participation Agreements [Line Items] | |||||
Derivative, Gain (Loss) on Derivative, Net | $ (160) | $ (45) | $ (2,122) | $ (88) | |
Risk Participation Agreements Purchased [Domain] | |||||
Risk participation Agreements [Line Items] | |||||
Number of interest rate swaps | Derivatives | 38 | 38 | |||
Risk Participation Agreements Sold [Domain] | |||||
Risk participation Agreements [Line Items] | |||||
Number of interest rate swaps | Derivatives | 14 | 14 | |||
Interest Rate Swap [Member] | |||||
Risk participation Agreements [Line Items] | |||||
Derivative Instruments Designated As Hedging Instruments Interest Income | $ 0 | 0 | $ 0 | (118) | |
Derivative Instruments Designated As Hedging Instruments Interest Expense | 208 | (70) | 219 | (70) | |
Derivative, Net Hedge Ineffectiveness Gain (Loss) | 0 | 0 | 0 | 7 | |
Interest Rate Swap [Member] | Designated as Hedging Instrument [Member] | |||||
Risk participation Agreements [Line Items] | |||||
Derivative, Fair Value, Net | 4,091 | 4,091 | $ (801) | ||
Derivative, Notional Amount | 70,000 | 70,000 | 70,000 | ||
Forward Contracts [Member] | |||||
Risk participation Agreements [Line Items] | |||||
Derivative, Net Hedge Ineffectiveness Gain (Loss) | 0 | 0 | 0 | 0 | |
Derivative Liability, Cost Basis, Gross Asset | 21,200 | 21,200 | 9,800 | ||
Derivative Liability, Fair Value, Gross Asset | 24,500 | 24,500 | 10,700 | ||
Derivative Liability, Notional Amount, Gross Asset | 49,100 | 49,100 | 25,500 | ||
Derivative, Gain (Loss) on Derivative, Net | 300 | 1,500 | |||
Forward Contracts [Member] | Designated as Hedging Instrument [Member] | |||||
Risk participation Agreements [Line Items] | |||||
Derivative, Fair Value, Net | 195 | 195 | 63 | ||
Derivative, Notional Amount | 42,000 | 42,000 | 30,000 | ||
Derivative, Gain (Loss) on Derivative, Net | (102) | 201 | 132 | 122 | |
Foreign Exchange [Member] | |||||
Risk participation Agreements [Line Items] | |||||
Derivative, Net Hedge Ineffectiveness Gain (Loss) | 3 | 3 | 15 | 4 | |
Interest Rate Contract [Member] | |||||
Risk participation Agreements [Line Items] | |||||
Derivative, Net Hedge Ineffectiveness Gain (Loss) | 0 | $ 0 | 0 | $ 0 | |
Foreign Exchange Contract [Member] | Designated as Hedging Instrument [Member] | |||||
Risk participation Agreements [Line Items] | |||||
Derivative, Fair Value, Net | (2) | (2) | 41 | ||
Derivative, Notional Amount | 2,362 | 2,362 | 4,789 | ||
Derivative Liability, Cost Basis, Gross Asset | 2,400 | 2,400 | 4,800 | ||
Derivative Liability, Fair Value, Gross Asset | 2,400 | 2,400 | $ 4,800 | ||
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, 2020 | Dec. 31, 2019 |
Not Designated as Hedging Instrument [Member] | ||
Derivative [Line Items] | ||
Derivative, Fair Value, Net | $ (2,394) | $ (272) |
Interest Rate Swap [Member] | Not Designated as Hedging Instrument [Member] | ||
Derivative [Line Items] | ||
Derivative, Notional Amount | 610,994 | 587,275 |
Interest Rate Swap [Member] | Designated as Hedging Instrument [Member] | ||
Derivative [Line Items] | ||
Derivative, Fair Value, Net | (4,091) | 801 |
Derivative, Notional Amount | 70,000 | 70,000 |
Interest Rate Cap [Member] | Not Designated as Hedging Instrument [Member] | ||
Derivative [Line Items] | ||
Derivative, Notional Amount | 75,685 | 87,188 |
interest Rate Collar [Member] | Not Designated as Hedging Instrument [Member] | ||
Derivative [Line Items] | ||
Derivative, Notional Amount | 35,354 | 35,354 |
Credit Default Swap [Member] | Not Designated as Hedging Instrument [Member] | ||
Derivative [Line Items] | ||
Derivative, Notional Amount | 228,853 | 164,632 |
Interest Rate Contract [Member] | Not Designated as Hedging Instrument [Member] | ||
Derivative [Line Items] | ||
Derivative, Notional Amount | 49,105 | 25,460 |
Forward Contracts [Member] | Designated as Hedging Instrument [Member] | ||
Derivative [Line Items] | ||
Derivative, Fair Value, Net | (195) | (63) |
Derivative, Notional Amount | 42,000 | 30,000 |
Foreign Exchange Contract [Member] | Designated as Hedging Instrument [Member] | ||
Derivative [Line Items] | ||
Derivative, Fair Value, Net | 2 | (41) |
Derivative, Notional Amount | 2,362 | 4,789 |
Short [Member] | Credit Default Swap, Selling Protection [Member] | Not Designated as Hedging Instrument [Member] | ||
Derivative [Line Items] | ||
Derivative, Notional Amount | $ 78,656 | $ 69,011 |
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, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Derivative [Line Items] | ||||
Derivatives mark to market | $ (160) | $ (45) | $ (2,122) | $ (88) |
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net | 142 | (33) | (611) | 420 |
Derivative, Gain (Loss) on Derivative, Net | (160) | (45) | (2,122) | (88) |
Interest Rate Contract [Member] | ||||
Derivative [Line Items] | ||||
Derivative, Net Hedge Ineffectiveness Gain (Loss) | 0 | 0 | 0 | 0 |
Interest Rate Swap [Member] | ||||
Derivative [Line Items] | ||||
Derivative Instruments Designated As Hedging Instruments Interest Expense | 208 | (70) | 219 | (70) |
Derivative, Net Hedge Ineffectiveness Gain (Loss) | 0 | 0 | 0 | 7 |
Derivative Instruments Designated As Hedging Instruments Interest Income | 0 | 0 | 0 | (118) |
Forward Contracts [Member] | ||||
Derivative [Line Items] | ||||
Derivatives mark to market | 300 | 1,500 | ||
Derivative, Net Hedge Ineffectiveness Gain (Loss) | 0 | 0 | 0 | 0 |
Derivative, Gain (Loss) on Derivative, Net | 300 | 1,500 | ||
Foreign Exchange [Member] | ||||
Derivative [Line Items] | ||||
Derivative, Net Hedge Ineffectiveness Gain (Loss) | 3 | 3 | 15 | 4 |
Designated as Hedging Instrument [Member] | Forward Contracts [Member] | ||||
Derivative [Line Items] | ||||
Derivatives mark to market | (102) | 201 | 132 | 122 |
Derivative, Gain (Loss) on Derivative, Net | $ (102) | $ 201 | $ 132 | $ 122 |
Goodwill - Additional Informati
Goodwill - Additional Information (Detail) - USD ($) | 9 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Dec. 31, 2019 | |
Goodwill Disclosure [Abstract] | |||
Goodwill | $ 303,328,000 | $ 303,328,000 | |
Impairment charges on goodwill | $ 0 | $ 0 |
Subordinated Debentures Schedul
Subordinated Debentures Schedule of Subordinated Debentures Outstanding (Details) - USD ($) $ in Thousands | Sep. 30, 2020 | Dec. 31, 2019 |
Debt Instrument [Line Items] | ||
Subordinated debentures | $ 170,572 | $ 170,450 |
First Commonwealth Bank 2028 [Member] | ||
Debt Instrument [Line Items] | ||
Subordinated debentures | 49,291 | 49,222 |
First Commonwealth Bank 2033 [Member] | ||
Debt Instrument [Line Items] | ||
Subordinated debentures | 49,114 | 49,061 |
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, 2020USD ($) |
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, 2020 | Sep. 30, 2019 | |
Additional Information [Abstract] | ||
Management Fees, Incentive Revenue (Deprecated 2018-01-31) | $ 0.3 | |
Brokerage Commissions Revenue | $ 2.2 | $ 2.3 |