Document and Entity Information
Document and Entity Information - shares | 3 Months Ended | |
Mar. 31, 2019 | Apr. 30, 2019 | |
Document and Entity Information [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Mar. 31, 2019 | |
Document Fiscal Year Focus | 2019 | |
Document Fiscal Period Focus | Q1 | |
Entity Registrant Name | LAKELAND FINANCIAL CORP | |
Entity Central Index Key | 0000721994 | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Large Accelerated Filer | |
Trading Symbol | LKFN | |
Entity Common Stock, Shares Outstanding | 25,614,665 | |
Entity Emerging Growth Company | false | |
Entity Small Business | false |
CONSOLIDATED BALANCE SHEETS
CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
ASSETS | ||
Cash and due from banks | $ 143,081 | $ 192,290 |
Short-term investments | 45,672 | 24,632 |
Total cash and cash equivalents | 188,753 | 216,922 |
Securities available for sale (carried at fair value) | 595,553 | 585,549 |
Real estate mortgage loans held for sale | 3,047 | 2,293 |
Loans, net of allowance for loan losses of $49,562 and $48,453 | 3,889,448 | 3,866,292 |
Land, premises and equipment, net | 58,760 | 58,097 |
Bank owned life insurance | 82,253 | 77,106 |
Federal Reserve and Federal Home Loan Bank Stock | 13,772 | 13,772 |
Accrued interest receivable | 17,387 | 15,518 |
Goodwill | 4,970 | 4,970 |
Other assets | 37,942 | 34,735 |
Total assets | 4,891,885 | 4,875,254 |
LIABILITIES | ||
Noninterest bearing deposits | 931,832 | 946,838 |
Interest bearing deposits | 3,215,605 | 3,097,227 |
Total deposits | 4,147,437 | 4,044,065 |
Borrowings | ||
Federal Funds Purchased | 122,000 | 0 |
Securities sold under agreements to repurchase | 0 | 75,555 |
Federal Home Loan Bank advances | 0 | 170,000 |
Subordinated debentures | 30,928 | 30,928 |
Total borrowings | 152,928 | 276,483 |
Accrued interest payable | 11,794 | 10,404 |
Other liabilities | 36,459 | 22,598 |
Total liabilities | 4,348,618 | 4,353,550 |
STOCKHOLDERS' EQUITY | ||
Common stock: 90,000,000 shares authorized, no par value 25,614,665 shares issued and 25,442,827 outstanding as of March 31, 2019 25,301,732 shares issued and 25,128,773 outstanding as of December 31, 2018 | 111,571 | 112,383 |
Retained earnings | 432,953 | 419,179 |
Accumulated other comprehensive income (loss) | 2,487 | (6,191) |
Treasury stock, at cost (2019 - 171,838 shares, 2018 - 172,959 shares) | (3,833) | (3,756) |
Total stockholders' equity | 543,178 | 521,615 |
Noncontrolling interest | 89 | 89 |
Total equity | 543,267 | 521,704 |
Total liabilities and equity | $ 4,891,885 | $ 4,875,254 |
CONSOLIDATED BALANCE SHEETS (Pa
CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
Valuation allowance | $ 49,562 | $ 48,453 |
Common stock, shares authorized (in shares) | 90,000,000 | 90,000,000 |
Common stock, no par value (in dollars per share) | $ 0 | $ 0 |
Common stock, shares issued (in shares) | 25,614,665 | 25,301,732 |
Common stock, shares outstanding (in shares) | 25,442,827 | 25,128,773 |
Treasury stock, at cost | 171,838 | 172,959 |
CONSOLIDATED STATEMENTS OF INCO
CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Interest and fees on loans | ||
Taxable | $ 48,866 | $ 41,794 |
Tax exempt | 251 | 217 |
Interest and dividends on securities | ||
Taxable | 2,497 | 2,434 |
Tax exempt | 1,642 | 1,331 |
Other interest income | 238 | 292 |
Total interest income | 53,494 | 46,068 |
Interest on deposits | 13,883 | 9,367 |
Interest on borrowings | ||
Short-term | 950 | 111 |
Long-term | 452 | 367 |
Total interest expense | 15,285 | 9,845 |
NET INTEREST INCOME | 38,209 | 36,223 |
Provision for loan losses | 1,200 | 3,300 |
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES | 37,009 | 32,923 |
NONINTEREST INCOME | ||
Wealth advisory fees | 1,620 | 1,505 |
Investment brokerage fees | 386 | 290 |
Service charges on deposit accounts | 4,287 | 3,628 |
Loan and service fees | 2,404 | 2,177 |
Merchant card fee income | 622 | 642 |
Bank owned life insurance income | 444 | 363 |
Other income | 1,517 | 1,039 |
Mortgage banking income | 222 | 241 |
Net securities gains (losses) | 23 | (6) |
Total noninterest income | 11,525 | 9,879 |
NONINTEREST EXPENSE | ||
Salaries and employee benefits | 12,559 | 12,019 |
Net occupancy expense | 1,366 | 1,426 |
Equipment costs | 1,349 | 1,274 |
Data processing fees and supplies | 2,425 | 2,513 |
Corporate and business development | 1,206 | 1,133 |
FDIC insurance and other regulatory fees | 406 | 461 |
Professional fees | 937 | 872 |
Other expense | 2,225 | 1,504 |
Total noninterest expense | 22,473 | 21,202 |
INCOME BEFORE INCOME TAX EXPENSE | 26,061 | 21,600 |
Income tax expense | 4,379 | 3,264 |
NET INCOME | $ 21,682 | $ 18,336 |
BASIC WEIGHTED AVERAGE COMMON SHARES | 25,491,093 | 25,257,414 |
BASIC EARNINGS PER COMMON SHARE | $ 0.85 | $ 0.73 |
DILUTED WEIGHTED AVERAGE COMMON SHARES | 25,665,287 | 25,696,864 |
DILUTED EARNINGS PER COMMON SHARE | $ 0.84 | $ 0.71 |
CONSOLIDATED STATEMENTS OF COMP
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Net income | $ 21,682 | $ 18,336 |
Change in securities available for sale: | ||
Unrealized holding gain/(loss) on securities available for sale arising during the period | 10,960 | (9,161) |
Reclassification adjustment for (gains)/losses included in net income | (23) | 6 |
Net securities gain/(loss) activity during the period | 10,937 | (9,155) |
Tax effect | (2,297) | 2,029 |
Net of tax amount | 8,640 | (7,126) |
Defined benefit pension plans: | ||
Amortization of net actuarial loss | 50 | 66 |
Net gain activity during the period | 50 | 66 |
Tax effect | (12) | (17) |
Net of tax amount | 38 | 49 |
Total other comprehensive income, net of tax | 8,678 | (7,077) |
Comprehensive income | $ 30,360 | $ 11,259 |
CONSOLIDATED STATEMENTS OF CHAN
CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY - USD ($) $ in Thousands | Total | Common Stock [Member] | Retained Earnings [Member] | Accumulated Other Comprehensive Income (Loss) [Member] | Treasury Stock [Member] | Parent [Member] | Noncontrolling Interest [Member] |
Balance at Dec. 31, 2017 | $ 468,667 | $ 108,862 | $ 363,794 | $ (670) | $ (3,408) | $ 468,578 | $ 89 |
Balance (in shares) at Dec. 31, 2017 | 25,025,933 | ||||||
Adoption of ASU | Accounting Standards Update 2018-02 [Member] | 0 | 173 | (173) | 0 | |||
Adoption of ASU | Accounting Standards Update 2014-09 [Member] | 24 | 24 | 24 | ||||
Adoption of ASU | Accounting Standards Update 2016-01 [Member] | 0 | 68 | (68) | 0 | |||
Net income | 18,336 | 18,336 | 18,336 | ||||
Other comprehensive income (loss), net of tax | (7,077) | (7,077) | (7,077) | ||||
Cash dividends declared | (5,545) | (5,545) | (5,545) | ||||
Treasury shares purchased under deferred directors' plan | 0 | $ 185 | (185) | 0 | |||
Treasury shares purchased under deferred directors' plan (in shares) | (3,807) | ||||||
Treasury shares sold and distributed under deferred directors' plan | 0 | $ (115) | 115 | 0 | |||
Treasury shares sold and distributed under deferred directors' plan (in shares) | 5,636 | ||||||
Stock activity under equity incentive plans | (2,483) | $ (2,483) | (2,483) | ||||
Stock activity under equity incentive plans (in shares) | 96,679 | ||||||
Stock based compensation expense | 1,411 | $ 1,411 | 1,411 | ||||
Balance at Mar. 31, 2018 | 473,333 | $ 107,860 | 376,850 | (7,988) | (3,478) | 473,244 | 89 |
Balance (in shares) at Mar. 31, 2018 | 25,124,441 | ||||||
Balance at Dec. 31, 2018 | 521,615 | $ 112,383 | 419,179 | (6,191) | (3,756) | 521,615 | 89 |
Balance (in shares) at Dec. 31, 2018 | 25,128,773 | ||||||
Adoption of ASU | (1,327) | (1,327) | (1,327) | ||||
Net income | 21,682 | 21,682 | 21,682 | ||||
Other comprehensive income (loss), net of tax | 8,678 | 8,678 | 8,678 | ||||
Cashless exercise of warrants (in shares) | 224,066 | ||||||
Cashless exercise of warrants | 0 | $ 0 | 0 | ||||
Cash dividends declared | (6,581) | (6,581) | (6,581) | ||||
Treasury shares purchased under deferred directors' plan | 0 | $ 195 | (195) | 0 | |||
Treasury shares purchased under deferred directors' plan (in shares) | (4,578) | ||||||
Treasury shares sold and distributed under deferred directors' plan | 0 | $ (118) | 118 | 0 | |||
Treasury shares sold and distributed under deferred directors' plan (in shares) | 5,699 | ||||||
Stock activity under equity incentive plans | (2,089) | $ (2,089) | (2,089) | ||||
Stock activity under equity incentive plans (in shares) | 88,867 | ||||||
Stock based compensation expense | 1,200 | $ 1,200 | 1,200 | ||||
Balance at Mar. 31, 2019 | $ 543,178 | $ 111,571 | $ 432,953 | $ 2,487 | $ (3,833) | $ 543,178 | $ 89 |
Balance (in shares) at Mar. 31, 2019 | 25,442,827 |
CONSOLIDATED STATEMENTS OF CH_2
CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY (Parenthetical) - $ / shares | 3 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Common Stock, Dividends, Per Share, Declared | $ 0.26 | $ 0.22 |
CONSOLIDATED STATEMENTS OF CASH
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Cash flows from operating activities: | ||
Net income | $ 21,682 | $ 18,336 |
Adjustments to reconcile net income to net cash from operating activities: | ||
Depreciation | 1,417 | 1,404 |
Provision for loan losses | 1,200 | 3,300 |
Net loss on sale and write down of other real estate owned | 0 | 16 |
Amortization of loan servicing rights | 122 | 132 |
Loans originated for sale, including participations | (7,454) | (9,506) |
Net gain on sales of loans | (258) | (350) |
Proceeds from sale of loans, including participations | 6,835 | 11,499 |
Net loss on sales of premises and equipment | 1 | 2 |
Net loss (gain) on sales and calls of securities available for sale | (23) | 6 |
Net securities amortization | 817 | 749 |
Stock based compensation expense | 1,200 | 1,411 |
Earnings on life insurance | (444) | (363) |
Gain on life insurance | (841) | (201) |
Tax benefit of stock award issuances | (529) | (761) |
Net change: | ||
Interest receivable and other assets | (1,342) | (2,130) |
Interest payable and other liabilities | 1,276 | 2,395 |
Total adjustments | 1,977 | 7,603 |
Net cash from operating activities | 23,659 | 25,939 |
Cash flows from investing activities: | ||
Proceeds from sale of securities available for sale | 13,693 | 12,322 |
Proceeds from maturities, calls and principal paydowns of securities available for sale | 16,026 | 12,659 |
Purchases of securities available for sale | (22,183) | (53,841) |
Purchase of life insurance | (5,362) | (258) |
Net increase in total loans | (24,356) | (32,003) |
Proceeds from sales of land, premises and equipment | 10 | 1 |
Purchases of land, premises and equipment | (2,091) | (678) |
Proceeds from sales of other real estate | 0 | 12 |
Proceeds from life insurance | 1,483 | 564 |
Net cash from investing activities | (22,780) | (61,222) |
Cash flows from financing activities: | ||
Net increase in total deposits | 103,372 | 90,833 |
Net increase in short-term borrowings | 46,445 | 24,064 |
Payments on short-term FHLB borrowings | (170,000) | 0 |
Payments on long-term FHLB borrowings | 0 | (80,030) |
Common dividends paid | (6,581) | (5,545) |
Payments related to equity incentive plans | (2,089) | (2,483) |
Purchase of treasury stock | (195) | (185) |
Net cash from financing activities | (29,048) | 26,654 |
Net change in cash and cash equivalents | (28,169) | (8,629) |
Cash and cash equivalents at beginning of the year | 216,922 | 176,180 |
Cash and cash equivalents at end of the year | 188,753 | 167,551 |
Cash paid during the year for: | ||
Interest | 13,896 | 8,672 |
Supplemental non-cash disclosures: | ||
Securities purchases payable | 8,725 | 3,081 |
Right-of-use assets obtained in exchange for lease liabilities | $ 5,483 | $ 0 |
BASIS OF PRESENTATION
BASIS OF PRESENTATION | 3 Months Ended |
Mar. 31, 2019 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
BASIS OF PRESENTATION | NOTE 1. BASIS OF PRESENTATION This report is filed for Lakeland Financial Corporation (the “Company”), which has two wholly owned subsidiaries, Lake City Bank (the “Bank”) and LCB Risk Management, a captive insurance company. Also included in this report is the Bank’s wholly owned subsidiary, LCB Investments II, Inc. (“LCB Investments”), which manages the Bank’s investment portfolio. LCB Investments owns LCB Funding, Inc. (“LCB Funding”), a real estate investment trust. All significant inter-company balances and transactions have been eliminated in consolidation. The unaudited consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial information and with the instructions for Form 10-Q. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements and are unaudited. In the opinion of management, all adjustments (all of which are normal and recurring in nature) considered necessary for a fair presentation have been included. Operating results for the three-months ended March 31, 2019 are not necessarily indicative of the results that may be expected for any subsequent reporting periods, including the year ending December 31, 2019. The Company’s 2018 Annual Report on Form 10-K should be read in conjunction with these statements. Adoption of New Accounting Standards The Company accounts for leases in accordance with ASU 2016-02, “Leases”, which the Company adopted on January 1, 2019. This guidance replaced existing lease guidance in GAAP and requires lessees to recognize lease assets and lease liabilities on the balance sheet for all leases and disclose key information about leasing arrangements. Lessees and lessors are required to recognize and measure leases that exist at the beginning of the earliest period presented using a modified retrospective approach. The Company recorded a right-of-use asset of $5.5 million and a lease liability of $5.5 million upon adoption, and there was no cumulative period adjustment made to retained earnings. This standard did not have a material impact on the Company’s balance sheets or cash flows from operations and had no impact on the Company’s operating results. The most significant impact was the recognition of right-of-use assets and lease obligations for operating leases. The Company elected to adopt the package of practical expedients for this standard. In March 2017, the FASB issued ASU No. 2017-08, “Receivables—Nonrefundable Fees and Other Costs: Premium Amortization on Purchased Callable Debt Securities.” This update amends the amortization period for certain purchased callable debt securities held at a premium. FASB is shortening the amortization period for the premium to the earliest call date. Under current GAAP, entities generally amortize the premium as an adjustment of yield over the contractual life of the instrument. Concerns were raised that current GAAP excludes certain callable debt securities from consideration of early repayment of principal even if the holder is certain that the call will be exercised. As a result, upon the exercise of a call on a callable debt security held at a premium, the unamortized premium is recorded as a loss in earnings. There is diversity in practice (1) in the amortization period for premiums of callable debt securities and (2) in how the potential for exercise of a call is factored into current impairment assessments. The amendments in this update become effective for annual periods and interim periods within those annual periods beginning after December 15, 2018. The Company adopted this new accounting standard on January 1, 2019. The effect of adoption was a reduction in retained earnings of approximately $1.3 million, net of tax, to reflect the acceleration of amortization of premiums on debt securities. In August 2017, the FASB issued ASU 2017-12, “Derivatives and Hedging: Targeted Improvements to Accounting for Hedging Activities”. The purpose of this updated guidance is to better align a company's financial reporting for hedging activities with the economic objectives of those activities. ASU 2017-12 is effective for public business entities for fiscal years beginning after December 15, 2018, with early adoption, including adoption in an interim period, permitted. The Company adopted ASU 2017-12 on January 1, 2019. ASU 2017-12 requires a modified retrospective transition method in which the Company will recognize the cumulative effect of the change on the opening balance of each affected component of equity in the statement of financial position as of the date of adoption. Adopting this standard did not have an impact on the Company’s financial condition or results of operations. Newly Issued But Not Yet Effective Accounting Standards In June 2016, the FASB issued guidance related to credit losses on financial instruments. This update will change the accounting for credit losses on loans and debt securities. The measurement of expected credit losses is to be based on information about past events, including historical experience, current conditions, and reasonable and supportable forecasts that affect the collectability of the reported amount. For loans, this measurement will take place at the time the financial asset is first added to the balance sheet and periodically thereafter. This differs significantly from the “incurred loss” model required under current GAAP, which delays recognition until it is probable a loss has been incurred. In addition, the guidance will modify the other-than-temporary impairment model for available-for-sale debt securities to require an allowance for credit impairment instead of a direct write-down, which will allow for reversal of credit impairments in future periods. This guidance is effective for public business entities that meet the definition of an SEC filer for fiscal years beginning after December 15, 2019, including interim periods in those fiscal years. The Company has formed a cross-functional committee that has evaluated existing technology and other solutions for calculating losses under this new standard, selected a vendor to validate data currently loaded in the technology solution selected, and reviewed the validation assessment report. The committee has selected a model and is working on initial calculations under the model. Management expects to recognize credit losses earlier upon adoption of this accounting standard and the expected credit loss model than it has historically done under the current incurred credit loss model. While the impact of implementing the CECL model cannot be quantified at this time, the Company expects to recognize a one-time cumulative-effect adjustment to the allowance upon adoption. In January 2017, the FASB issued ASU No. 2017-04 "Intangibles - Goodwill and Other - Simplifying the Test for Goodwill Impairment." These amendments eliminate Step 2 from the goodwill impairment test. The amendments also eliminate the requirements for any reporting unit with a zero or negative carrying amount to perform a qualitative assessment and, if it fails that qualitative test, to perform Step 2 of the goodwill impairment test. An entity still has the option to perform the qualitative assessment for a reporting unit to determine if the quantitative impairment test is necessary. The guidance is effective for annual or any interim goodwill impairment tests in fiscal years beginning after December 15, 2019. Early adoption is permitted for interim or annual goodwill impairment tests performed on testing dates after January 1, 2017. ASU 2017-04 should be adopted on a prospective basis. Management does not expect the adoption of this new accounting standard to have a material impact on our financial statements. Reclassifications Certain amounts appearing in the financial statements and notes thereto for prior periods have been reclassified to conform with the current presentation. The reclassifications had no effect on net income or stockholders' equity as previously reported. |
SECURITIES
SECURITIES | 3 Months Ended |
Mar. 31, 2019 | |
Investments, Debt and Equity Securities [Abstract] | |
SECURITIES | NOTE 2. SECURITIES Information related to the fair value and amortized cost of securities available for sale and the related gross unrealized gains and losses recognized in accumulated other comprehensive income is provided in the tables below. Gross Gross Amortized Unrealized Unrealized Fair (dollars in thousands) Cost Gain Losses Value March 31, 2019 U.S. Treasury securities $994 $0 $0 $994 U.S. government sponsored agencies 4,066 0 (77) 3,989 Mortgage-backed securities: residential 320,460 2,378 (2,559) 320,279 Mortgage-backed securities: commercial 38,244 1 (216) 38,029 State and municipal securities 226,924 5,624 (286) 232,262 Total $590,688 $8,003 $(3,138) $595,553 December 31, 2018 U.S. Treasury securities $994 $0 $(7) $987 U.S. government sponsored agencies 4,435 0 (85) 4,350 Mortgage-backed securities: residential 329,516 1,392 (5,496) 325,412 Mortgage-backed securities: commercial 38,712 0 (571) 38,141 State and municipal securities 217,964 1,403 (2,708) 216,659 Total $591,621 $2,795 $(8,867) $585,549 Information regarding the fair value and amortized cost of available for sale debt securities by maturity as of March 31, 2019 is presented below. Maturity information is based on contractual maturity for all securities other than mortgage-backed securities. Actual maturities of securities may differ from contractual maturities because borrowers may have the right to prepay the obligation without a prepayment penalty. Amortized Fair (dollars in thousands) Cost Value Due in one year or less $1,732 $1,742 Due after one year through five years 25,086 25,342 Due after five years through ten years 25,267 25,970 Due after ten years 179,899 184,191 231,984 237,245 Mortgage-backed securities 358,704 358,308 Total debt securities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $590,688 $595,553 Securities proceeds, gross gains and gross losses are presented below. Three months ended March 31, (dollars in thousands) 2019 2018 Sales of securities available for sale Proceeds $13,693 $12,322 Gross gains 70 21 Gross losses (47) (27) Number of securities 17 22 In accordance with ASU No. 2017-08, purchase premiums for callable securities are amortized to the earliest call date and premiums on non-callable securities as well as discounts are recognized in interest income using the interest method over the terms of the securities or over the estimated lives of mortgage-backed securities. Gains and losses on sales are based on the amortized cost of the security sold and recorded on the trade date. Securities with carrying values of $62.0 million and $164.7 million were pledged as of March 31, 2019 and December 31, 2018, respectively, as collateral for securities sold under agreements to repurchase, borrowings from the Federal Home Loan Bank and for other purposes as permitted or required by law. Information regarding securities with unrealized losses as of March 31, 2019 and December 31, 2018 is presented below. The tables divide the securities between those with unrealized losses for less than twelve months and those with unrealized losses for twelve months or more. Less than 12 months 12 months or more Total Fair Unrealized Fair Unrealized Fair Unrealized (dollars in thousands) Value Losses Value Losses Value Losses March 31, 2019 U.S. government sponsored agencies $1,644 $4 $2,345 $73 $3,989 $77 Mortgage-backed securities: residential 27,476 22 161,955 2,537 189,431 2,559 Mortgage-backed securities: commercial 5,096 8 28,819 208 33,915 216 State and municipal securities 7,138 51 19,685 235 26,823 286 Total temporarily impaired $41,354 $85 $212,804 $3,053 $254,158 $3,138 December 31, 2018 U.S. Treasury securities $0 $0 $987 $7 $987 $7 U.S. government sponsored agencies 0 0 4,350 85 4,350 85 Mortgage-backed securities: residential 11,619 12 217,182 5,484 228,801 5,496 Mortgage-backed securities: commercial 0 0 38,141 571 38,141 571 State and municipal securities 26,229 124 85,982 2,584 112,211 2,708 Total temporarily impaired $37,848 $136 $346,642 $8,731 $384,490 $8,867 The total number of securities with unrealized losses as of March 31, 2019 and December 31, 2018 is presented below. Less than 12 months 12 months or more Total March 31, 2019 U.S. government sponsored agencies 1 1 2 Mortgage-backed securities: residential 12 64 76 Mortgage-backed securities: commercial 1 7 8 State and municipal securities 10 22 32 Total temporarily impaired 24 94 118 December 31, 2018 U.S. Treasury securities 0 1 1 U.S. government sponsored agencies 0 2 2 Mortgage-backed securities: residential 5 84 89 Mortgage-backed securities: commercial 0 9 9 State and municipal securities 35 111 146 Total temporarily impaired 40 207 247 The following factors are considered in determining whether or not the impairment of these securities is other-than-temporary. In making this determination, management considers the extent and duration of the unrealized loss, and the financial condition and near-term prospects of the issuer, as well as the underlying fundamentals of the relevant market and the outlook for such market in the near future. Management also assesses whether it intends to sell, or it is more likely than not that it will be required to sell, a security in an unrealized loss position before recovery of its amortized cost basis. If either of the criteria regarding intent or requirement to sell is met, the entire difference between amortized cost and fair value is recognized as impairment through earnings. For debt securities that do not meet the aforementioned criteria, the amount of impairment is split into two components as follows: 1) OTTI related to credit loss, which must be recognized in the income statement and 2) OTTI related to other factors, which is recognized in other comprehensive income. Credit loss is defined as the difference between the present value of the cash flows expected to be collected and the amortized cost basis. As of March 31, 2019 and December 31, 2018, all of the securities in the Company’s portfolio were backed by the U.S. government, government agencies, government sponsored entities or were A-rated or better, except for certain non-local or local municipal securities, which are not rated. For the government, government agency, government-sponsored entity and municipal securities, management did not believe that there would be credit losses or that full principal would not be received. Management considers the unrealized losses on these securities to be primarily interest rate driven and does not expect material losses given current market conditions unless the securities are sold. However, at this time management does not have the intent to sell, and it is more likely than not that the Company will not be required to sell these securities before the recovery of their amortized cost basis. |
LOANS
LOANS | 3 Months Ended |
Mar. 31, 2019 | |
Receivables [Abstract] | |
LOANS | NOTE 3. LOANS March 31, December 31, (dollars in thousands) 2019 2018 Commercial and industrial loans: Working capital lines of credit loans $726,895 18.4 % $690,620 17.6 % Non-working capital loans 700,447 17.8 714,759 18.3 Total commercial and industrial loans 1,427,342 36.2 1,405,379 35.9 Commercial real estate and multi-family residential loans: Construction and land development loans 293,818 7.5 266,805 6.8 Owner occupied loans 557,296 14.1 586,325 15.0 Nonowner occupied loans 537,569 13.7 520,901 13.3 Multifamily loans 240,939 6.1 195,604 5.0 Total commercial real estate and multi-family residential loans 1,629,622 41.4 1,569,635 40.1 Agri-business and agricultural loans: Loans secured by farmland 139,645 3.6 177,503 4.6 Loans for agricultural production 162,662 4.1 193,010 4.9 Total agri-business and agricultural loans 302,307 7.7 370,513 9.5 Other commercial loans 112,021 2.8 95,657 2.4 Total commercial loans 3,471,292 88.1 3,441,184 87.9 Consumer 1-4 family mortgage loans: Closed end first mortgage loans 188,777 4.8 185,822 4.7 Open end and junior lien loans 182,791 4.7 187,030 4.8 Residential construction and land development loans 13,142 0.3 16,226 0.4 Total consumer 1-4 family mortgage loans 384,710 9.8 389,078 9.9 Other consumer loans 84,650 2.1 86,064 2.2 Total consumer loans 469,360 11.9 475,142 12.1 Subtotal 3,940,652 100.0 % 3,916,326 100.0 % Less: Allowance for loan losses (49,562) (48,453) Net deferred loan fees (1,642) (1,581) Loans, net $3,889,448 $3,866,292 The recorded investment in loans does not include accrued interest. The Company had $533,000 in residential real estate loans in the process of foreclosure as of March 31, 2019, compared to $586,000 as of December 31, 2018. |
ALLOWANCE FOR LOAN LOSSES AND C
ALLOWANCE FOR LOAN LOSSES AND CREDIT QUALITY | 3 Months Ended |
Mar. 31, 2019 | |
Receivables [Abstract] | |
ALLOWANCE FOR LOAN LOSSES AND CREDIT QUALITY | NOTE 4. ALLOWANCE FOR LOAN LOSSES AND CREDIT QUALITY The following tables present the activity in the allowance for loan losses by portfolio segment for the three-month periods ended March 31, 2019 and 2018: Commercial Real Estate Commercial and Agri-business Consumer and Multifamily and Other 1-4 Family Other (dollars in thousands) Industrial Residential Agricultural Commercial Mortgage Consumer Unallocated Total Three Months Ended March 31, 2019 Beginning balance, January 1 $22,518 $15,393 $4,305 $368 $2,292 $283 $3,294 $48,453 Provision for loan losses 1,493 18 (161) 5 45 85 (285) 1,200 Loans charged-off (83) 0 0 0 (82) (119) 0 (284) 102 36 2 0 11 42 0 193 Net loans charged-off 19 36 2 0 (71) (77) 0 (91) Ending balance $24,030 $15,447 $4,146 $373 $2,266 $291 $3,009 $49,562 Commercial Real Estate Commercial and Agri-business Consumer and Multifamily and Other 1-4 Family Other (dollars in thousands) Industrial Residential Agricultural Commercial Mortgage Consumer Unallocated Total Three Months Ended March 31, 2018 Beginning balance, January 1 $21,097 $14,714 $4,920 $577 $2,768 $379 $2,666 $47,121 Provision for loan losses 3,902 207 (76) (67) (794) (49) 177 3,300 Loans charged-off (4,360) (491) 0 0 (7) (119) 0 (4,977) Recoveries 86 8 4 0 51 34 0 183 Net loans charged-off (4,274) (483) 4 0 44 (85) 0 (4,794) Ending balance $20,725 $14,438 $4,848 $510 $2,018 $245 $2,843 $45,627 The following tables present the balance in the allowance for loan losses and the recorded investment in loans by portfolio segment and based on impairment method as of March 31, 2019 and December 31, 2018: Commercial Real Estate Commercial and Agri-business Consumer and Multifamily and Other 1-4 Family Other (dollars in thousands) Industrial Residential Agricultural Commercial Mortgage Consumer Unallocated Total March 31, 2019 Allowance for loan losses: Ending allowance balance attributable to loans: Individually evaluated for impairment $8,860 $398 $81 $0 $467 $28 $0 $9,834 Collectively evaluated for impairment 15,170 15,049 4,065 373 1,799 263 3,009 39,728 Total ending allowance balance $24,030 $15,447 $4,146 $373 $2,266 $291 $3,009 $49,562 Loans: Loans individually evaluated for impairment $18,611 $3,441 $430 $0 $2,022 $43 $0 $24,547 Loans collectively evaluated for impairment 1,408,737 1,623,594 301,976 111,875 383,913 84,368 0 3,914,463 Total ending loans balance $1,427,348 $1,627,035 $302,406 $111,875 $385,935 $84,411 $0 $3,939,010 Commercial Real Estate Commercial and Agri-business Consumer and Multifamily and Other 1-4 Family Other (dollars in thousands) Industrial Residential Agricultural Commercial Mortgage Consumer Unallocated Total December 31, 2018 Allowance for loan losses: Ending allowance balance attributable to loans: Individually evaluated for impairment $8,552 $921 $73 $0 $457 $26 $0 $10,029 Collectively evaluated for impairment 13,966 14,472 4,232 368 1,835 257 3,294 38,424 Total ending allowance balance $22,518 $15,393 $4,305 $368 $2,292 $283 $3,294 $48,453 Loans: Loans individually evaluated for impairment $19,734 $4,266 $433 $0 $2,240 $44 $0 $26,717 Loans collectively evaluated for impairment 1,385,604 1,562,899 370,174 95,520 388,053 85,778 0 3,888,028 Total ending loans balance $1,405,338 $1,567,165 $370,607 $95,520 $390,293 $85,822 $0 $3,914,745 The following table presents loans individually evaluated for impairment by class of loans as of March 31, 2019: Unpaid Allowance for Principal Recorded Loan Losses (dollars in thousands) Balance Investment Allocated With no related allowance recorded: Commercial and industrial loans: Working capital lines of credit loans $ 2,904 $ 212 $ 0 Non-working capital loans 2,345 950 0 Commercial real estate and multi-family residential loans: Owner occupied loans 2,272 1,667 0 Agri-business and agricultural loans: Loans secured by farmland 603 283 0 Consumer 1-4 family loans: Closed end first mortgage loans 224 143 0 Open end and junior lien loans 98 98 0 With an allowance recorded: Commercial and industrial loans: Working capital lines of credit loans 6,698 6,390 2,874 Non-working capital loans 11,016 11,059 5,986 Commercial real estate and multi-family residential loans: Owner occupied loans 1,774 1,774 398 Agri-business and agricultural loans: Loans secured by farmland 147 147 81 Consumer 1-4 family mortgage loans: Closed end first mortgage loans 1,779 1,781 467 Other consumer loans 43 43 28 Total $ 29,903 $ 24,547 $ 9,834 The following table presents loans individually evaluated for impairment by class of loans as of December 31, 2018: Unpaid Allowance for Principal Recorded Loan Losses (dollars in thousands) Balance Investment Allocated With no related allowance recorded: Commercial and industrial loans: Non-working capital loans $ 3,284 $ 1,889 $ 0 Commercial real estate and multi-family residential loans: Owner occupied loans 1,773 1,527 0 Agri-business and agricultural loans: Loans secured by farmland 603 283 0 Consumer 1-4 family loans: Closed end first mortgage loans 583 502 0 Open end and junior lien loans 220 220 0 With an allowance recorded: Commercial and industrial loans: Working capital lines of credit loans 9,691 6,694 2,602 Non-working capital loans 11,099 11,151 5,950 Commercial real estate and multi-family residential loans: Construction and land development loans 291 291 142 Owner occupied loans 2,938 2,448 779 Agri-business and agricultural loans: Loans secured by farmland 150 150 73 Consumer 1-4 family mortgage loans: Closed end first mortgage loans 1,517 1,518 457 Other consumer loans 45 44 26 Total $ 32,194 $ 26,717 $ 10,029 The following table presents loans individually evaluated for impairment by class of loans as of and for the three-month period ended March 31, 2019: Cash Basis Average Interest Interest Recorded Income Income (dollars in thousands) Investment Recognized Recognized With no related allowance recorded: Commercial and industrial loans: Working capital lines of credit loans $ 155 $ 1 $ 0 Non-working capital loans 1,549 29 24 Commercial real estate and multi-family residential loans: Owner occupied loans 1,621 11 8 Agri-business and agricultural loans: Loans secured by farmland 283 0 0 Consumer 1-4 family loans: Closed end first mortgage loans 380 1 1 Open end and junior lien loans 193 0 0 With an allowance recorded: Commercial and industrial loans: Working capital lines of credit loans 6,487 72 59 Non-working capital loans 11,416 132 128 Commercial real estate and multi-family residential loans: Owner occupied loans 2,080 13 12 Agri-business and agricultural loans: Loans secured by farmland 147 2 1 Consumer 1-4 family mortgage loans: Closed end first mortgage loans 1,598 12 12 Other consumer loans 43 1 1 Total $ 25,952 $ 274 $ 246 The following table presents loans individually evaluated for impairment by class of loans as of and for the three-month period ended March 31, 2018: Cash Basis Average Interest Interest Recorded Income Income (dollars in thousands) Investment Recognized Recognized With no related allowance recorded: Commercial and industrial loans: Working capital lines of credit loans $ 1,011 $ 7 $ 2 Non-working capital loans 1,728 15 5 Commercial real estate and multi-family residential loans: Construction and land development loans 102 1 0 Owner occupied loans 2,557 7 2 Agri-business and agricultural loans: Loans secured by farmland 283 0 0 Consumer 1-4 family loans: Closed end first mortgage loans 543 2 1 Open end and junior lien loans 92 0 0 With an allowance recorded: Commercial and industrial loans: Working capital lines of credit loans 1,608 2 1 Non-working capital loans 3,216 2 0 Commercial real estate and multi-family residential loans: Construction and land development loans 721 11 5 Owner occupied loans 1,194 0 0 Consumer 1-4 family mortgage loans: Closed end first mortgage loans 968 7 4 Open end and junior lien loans 154 0 0 Other consumer loans 49 1 0 Total $ 14,226 $ 55 $ 20 The following table presents the aging of the recorded investment in past due loans as of March 31, 2019 by class of loans: Greater than 30-89 90 Days Past Total Past Loans Not Days Due and Still Due and (dollars in thousands) Past Due Past Due Accruing Nonaccrual Nonaccrual Total Commercial and industrial loans: Working capital lines of credit loans $ 720,597 $ 4,308 $ 0 $ 2,118 $ 6,426 $ 727,023 Non-working capital loans 695,711 3,354 0 1,260 4,614 700,325 Commercial real estate and multi-family residential loans: Construction and land development loans 292,627 0 0 0 0 292,627 Owner occupied loans 554,668 47 481 1,749 2,277 556,945 Nonowner occupied loans 536,900 142 0 0 142 537,042 Multifamily loans 240,421 0 0 0 0 240,421 Agri-business and agricultural loans: Loans secured by farmland 139,230 147 0 283 430 139,660 Loans for agricultural production 162,746 0 0 0 0 162,746 Other commercial loans 111,875 0 0 0 0 111,875 Consumer 1-4 family mortgage loans: Closed end first mortgage loans 186,373 1,466 0 588 2,054 188,427 Open end and junior lien loans 184,217 87 0 98 185 184,402 Residential construction loans 13,106 0 0 0 0 13,106 Other consumer loans 84,265 146 0 0 146 84,411 Total $ 3,922,736 $ 9,697 $ 481 $ 6,096 $ 16,274 $ 3,939,010 The following table presents the aging of the recorded investment in past due loans as of December 31, 2018 by class of loans: Greater than 30-89 90 Days Past Total Past Loans Not Days Due and Still Due and (dollars in thousands) Past Due Past Due Accruing Nonaccrual Nonaccrual Total Commercial and industrial loans: Working capital lines of credit loans $ 684,191 $ 4,328 $ 0 $ 2,245 $ 6,573 $ 690,764 Non-working capital loans 709,629 3,368 0 1,577 4,945 714,574 Commercial real estate and multi-family residential loans: Construction and land development loans 265,544 0 0 0 0 265,544 Owner occupied loans 583,214 486 0 2,269 2,755 585,969 Nonowner occupied loans 520,431 57 0 0 57 520,488 Multi-family loans 195,164 0 0 0 0 195,164 Agri-business and agricultural loans: Loans secured by farmland 177,080 150 0 283 433 177,513 Loans for agricultural production 193,094 0 0 0 0 193,094 Other commercial loans 95,520 0 0 0 0 95,520 Consumer 1-4 family mortgage loans: Closed end first mortgage loans 183,420 1,370 0 671 2,041 185,461 Open end and junior lien loans 188,320 98 0 220 318 188,638 Residential construction loans 16,194 0 0 0 0 16,194 Other consumer loans 85,654 168 0 0 168 85,822 Total $ 3,897,455 $ 10,025 $ 0 $ 7,265 $ 17,290 $ 3,914,745 Troubled Debt Restructurings: Troubled debt restructured loans are included in the totals for impaired loans. The Company has allocated $2.9 million and $3.7 million of specific reserves to customers whose loan terms have been modified in troubled debt restructurings as of March 31, 2019 and December 31, 2018, respectively. The Company is not committed to lend additional funds to debtors whose loans have been modified in a troubled debt restructuring. March 31 December 31 (dollars in thousands) 2019 2018 Accruing troubled debt restructured loans $ 6,196 $ 8,016 Nonaccrual troubled debt restructured loans 3,812 4,384 Total troubled debt restructured loans $ 10,008 $ 12,400 During the three months ending March 31, 2019, certain loans were modified as troubled debt restructurings. The modified terms of these loans include one or a combination of the following: inadequate compensation for the terms of the restructure or renewal; a modification of the repayment terms which delays principal repayment for some period; or renewal terms offered to borrowers in financial distress where no additional credit enhancements were obtained at the time of renewal. Additional concessions were granted to borrowers with previously identified troubled debt restructured loans during the period. One of the loans is for a commercial real estate building where the cash flow does not support the loan with a recorded investment of $533,000. The other loan is for commercial and industrial non-working capital purposes and this borrower had a recorded investment of $70,000 that was subsequently paid off prior to March 31, 2019. These concessions are not included in table below. The following table presents loans by class modified as new troubled debt restructurings that occurred during the three months ended March 31, 2019: Modified Repayment Terms Pre-Modification Post-Modification Extension Outstanding Outstanding Period or Number of Recorded Recorded Number of Range (dollars in thousands) Loans Investment Investment Loans (in months) Troubled Debt Restructurings Commercial and industrial loans: Working capital lines of credit loans 1 35 35 1 0 Total 1 $ 35 $ 35 1 0 For the three month period ending March 31, 2019, the troubled debt restructurings described above did not impact the allowance for loan losses and no charge-offs were recorded. During the three months ended March 31, 2018, certain loans were modified as troubled debt restructurings. The modified terms of these loans include one or a combination of the following: inadequate compensation for the terms of the restructure or renewal; a modification of the repayment terms which delays principal repayment for some period; or renewal terms offered to borrowers in financial distress where no additional credit enhancements were obtained at the time of renewal. Additional concessions were granted to borrowers with previously identified troubled debt restructured loans during the period. The loan to one of the borrowers is for a commercial real estate building where the collateral value and cash flows from the companies occupying the buildings do not support the loan with recorded investments of $341,000. The loans to two other borrowers are for commercial and industrial capital and non-working capital loans with recorded investments of $551,000. These concessions are not included in the following table. The following table presents loans by class modified as new troubled debt restructurings that occurred during the three months ended March 31, 2018: Modified Repayment Terms Pre-Modification Post-Modification Extension Outstanding Outstanding Period or Number of Recorded Recorded Number of Range (dollars in thousands) Loans Investment Investment Loans (in months) Troubled Debt Restructurings Commercial and industrial loans: Working capital lines of credit loans 1 $ 600 $ 600 1 0 Non-working capital loans 1 1,400 1,400 1 0 Commercial real estate and multi- family residential loans: Construction and land development loans 1 824 824 1 12 Owner occupied loans 1 387 387 1 12 Consumer 1-4 family loans: Closed end first mortgage loans 1 198 197 1 239 Total 5 $ 3,409 $ 3,408 5 0 239 For the three-month period ending March 31, 2018, the troubled debt restructurings described in the table above decreased the allowance for loan losses by $227,000, primarily due to the reduction of the allowance for loan losses on the construction and land development loan described in the table above. For the three-month period ending March 31, 2018, charge-offs of $1.6 million were recorded on the troubled debt restructurings described in the table above, which were from the charge-offs taken on the two commercial and industrial loans described in the table above. Credit Quality Indicators: The Company categorizes loans into risk categories based on relevant information about the ability of borrowers to service their debt such as: current financial information, historical payment experience, credit documentation, public information and current economic trends, among other factors. The Company analyzes commercial loans individually by classifying the loans as to credit risk. This analysis is performed on a quarterly basis for Special Mention, Substandard and Doubtful grade loans and annually on Pass grade loans over $250,000. The Company uses the following definitions for risk ratings: Special Mention. Loans classified as Special Mention have a potential weakness that deserves management’s close attention. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for the loan or of the institution’s credit position at some future date. Substandard. Loans classified as Substandard are inadequately protected by the current net worth and paying capacity of the obligor or of the collateral pledged, if any. Loans so classified have a well-defined weakness or weaknesses that jeopardize the liquidation of the debt. They are characterized by the distinct possibility that the Company will sustain some loss if the deficiencies are not corrected. Doubtful. Loans classified as Doubtful have all the weaknesses inherent in those classified as Substandard, with the added characteristics that the weaknesses make collection or liquidation in full, on the basis of currently existing facts, conditions, and values, highly questionable and improbable. Loans not meeting the criteria above that are analyzed individually as part of the above-described process are considered to be Pass rated loans with the exception of consumer troubled debt restructurings which are evaluated and listed with Substandard commercial grade loans and consumer nonaccrual loans which are evaluated individually and listed with Not Rated loans. Loans listed as Not Rated are consumer loans or commercial loans with consumer characteristics included in groups of homogenous loans which are analyzed for credit quality indicators utilizing delinquency status. As of March 31, 2019, and based on the most recent analysis performed, the risk category of loans by class of loans is as follows: Special Not (dollars in thousands) Pass Mention Substandard Doubtful Rated Total Commercial and industrial loans: Working capital lines of credit loans $ 638,075 $ 59,140 $ 29,489 $ 0 $ 319 $ 727,023 Non-working capital loans 651,748 17,072 25,632 0 5,873 700,325 Commercial real estate and multi- family residential loans: Construction and land development loans 292,275 352 0 0 0 292,627 Owner occupied loans 509,539 25,024 22,382 0 0 556,945 Nonowner occupied loans 533,975 2,439 628 0 0 537,042 Multifamily loans 240,211 210 0 0 0 240,421 Agri-business and agricultural loans: Loans secured by farmland 128,492 9,388 1,780 0 0 139,660 Loans for agricultural production 153,470 7,476 1,800 0 0 162,746 Other commercial loans 111,871 0 0 0 4 111,875 Consumer 1-4 family mortgage loans: Closed end first mortgage loans 56,681 0 1,924 0 129,822 188,427 Open end and junior lien loans 8,613 0 98 0 175,691 184,402 Residential construction loans 0 0 0 0 13,106 13,106 Other consumer loans 12,868 0 43 0 71,500 84,411 Total $ 3,337,818 $ 121,101 $ 83,776 $ 0 $ 396,315 $ 3,939,010 As of December 31, 2018, and based on the most recent analysis performed, the risk category of loans by class of loans is as follows: Special Not (dollars in thousands) Pass Mention Substandard Doubtful Rated Total Commercial and industrial loans: Working capital lines of credit loans $ 618,612 $ 43,240 $ 28,563 $ 0 $ 349 $ 690,764 Non-working capital loans 664,787 15,992 27,548 0 6,247 714,574 Commercial real estate and multi- family residential loans: Construction and land development loans 264,900 353 291 0 0 265,544 Owner occupied loans 541,734 21,864 22,371 0 0 585,969 Nonowner occupied loans 517,356 2,491 641 0 0 520,488 Multifamily loans 194,948 216 0 0 0 195,164 Agri-business and agricultural loans: Loans secured by farmland 166,623 9,107 1,783 0 0 177,513 Loans for agricultural production 183,189 8,155 1,750 0 0 193,094 Other commercial loans 95,516 0 0 0 4 95,520 Consumer 1-4 family mortgage loans: Closed end first mortgage loans 54,879 0 2,021 0 128,561 185,461 Open end and junior lien loans 8,810 0 220 0 179,608 188,638 Residential construction loans 0 0 0 0 16,194 16,194 Other consumer loans 12,700 0 44 0 73,078 85,822 Total $ 3,324,054 $ 101,418 $ 85,232 $ 0 $ 404,041 $ 3,914,745 |
FAIR VALUE DISCLOSURES
FAIR VALUE DISCLOSURES | 3 Months Ended |
Mar. 31, 2019 | |
Fair Value Disclosures [Abstract] | |
FAIR VALUE | NOTE 5. FAIR VALUE DISCLOSURES Fair value is the exchange price that would be received for an asset or paid to transfer a liability (exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. There are three levels of inputs that may be used to measure fair values: Level 1 Quoted prices (unadjusted) for identical assets or liabilities in active markets that the entity has the ability to access as of the measurement date. Level 2 Significant other observable inputs other than Level 1 prices such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data. Level 3 Significant unobservable inputs that reflect a company’s own assumptions about the assumptions that market participants would use in pricing an asset or liability. The Company used the following methods and significant assumptions to estimate the fair value of each type of financial instrument: Securities: The Company’s Finance Department, which is responsible for all accounting and SEC compliance, and the Company’s Treasury Department, which is responsible for investment portfolio management and asset/liability modeling, are the two areas that determine the Company’s valuation policies and procedures. Both of these areas report directly to the Executive Vice President and Chief Financial Officer of the Company. For assets or liabilities that may be considered for Level 3 fair value measurement on a recurring basis, these two departments and the Executive Vice President and Chief Financial Officer determine the appropriate level of the assets or liabilities under consideration. If there are assets or liabilities that are determined to be Level 3 by this group, the Risk Management Committee of the Company and the Audit Committee of the Board are made aware of such assets at their next scheduled meeting. Securities pricing is obtained on securities from a third party pricing service and all security prices are tested annually against prices from another third party provider and reviewed with a market value price tolerance variance that varies by sector: municipal securities +/- 5%, government mbs/cmo +/- 3% and U.S. treasuries +/-1%. If any securities fall outside the tolerance threshold and have a variance of $100,000 or more, a determination of materiality is made for the amount over the threshold. Any security that would have a material threshold difference would be further investigated to determine why the variance exists and if any action is needed concerning the security pricing for that individual security. Changes in market value are reviewed monthly in aggregate by security type and any material differences are reviewed to determine why they exist. At least annually, the pricing methodology of the pricing service is received and reviewed to support the fair value levels used by the Company. A detailed pricing evaluation is requested and reviewed on any security determined to be fair valued using unobservable inputs by the pricing service. Mortgage banking derivative: Interest rate swap derivatives: Impaired loans: Mortgage servicing rights: Other real estate owned: Real estate mortgage loans held for sale The table below presents the balances of assets measured at fair value on a recurring basis: March 31, 2019 Fair Value Measurements Using Assets (dollars in thousands) Level 1 Level 2 Level 3 at Fair Value Assets U.S. Treasury securities $ 994 $ 0 $ 0 $ 994 U.S. government sponsored agency securities 0 3,989 0 3,989 Mortgage-backed securities: residential 0 320,279 0 320,279 Mortgage-backed securities: commercial 0 38,029 0 38,029 State and municipal securities 0 232,112 150 232,262 Total Securities 994 594,409 150 595,553 Mortgage banking derivative 0 209 0 209 Interest rate swap derivative 0 4,061 0 4,061 Total assets $ 994 $ 598,679 $ 150 $ 599,823 Liabilities Mortgage banking derivative 0 52 0 52 Interest rate swap derivative 0 4,388 0 4,388 Total liabilities $ 0 $ 4,440 $ 0 $ 4,440 December 31, 2018 Fair Value Measurements Using Assets (dollars in thousands) Level 1 Level 2 Level 3 at Fair Value Assets U.S. Treasury securities $ 987 $ 0 $ 0 $ 987 U.S. government sponsored agency securities 0 4,350 0 4,350 Mortgage-backed securities: residential 0 325,412 0 325,412 Mortgage-backed securities: commercial 0 38,141 0 38,141 State and municipal securities 0 216,509 150 216,659 Total Securities 987 584,412 150 585,549 Mortgage banking derivative 0 95 0 95 Interest rate swap derivative 0 3,869 0 3,869 Total assets $ 987 $ 588,376 $ 150 $ 589,513 Liabilities Mortgage banking derivative 0 23 0 23 Interest rate swap derivative 0 4,025 0 4,025 Total liabilities $ 0 $ 4,048 $ 0 $ 4,048 There were no transfers between Level 1 and Level 2 during the three months ended March 31, 2019 and there were no transfers between Level 1 and Level 2 during 2018. The table below presents a reconciliation of all assets measured at fair value on a recurring basis using significant unobservable inputs (Level 3) for the three months ended March 31, 2019 and 2018: State and Municipal Securities (dollars in thousands) 2019 2018 Balance of recurring Level 3 assets at January 1 $ 150 $ 880 Changes in fair value of securities included in other comprehensive income 0 (4) Principal payments 0 (45) Balance of recurring Level 3 assets at March 31 $ 150 $ 831 The state and municipal securities measured at fair value included below are non-rated Indiana municipal revenue bonds and are not actively traded. Quantitative Information about Level 3 Fair Value Measurements Range of Fair Value at Inputs (dollars in thousands) 3/31/2019 Valuation Technique Unobservable Input (Average) State and municipal securities $ 150 Price to type, par, call Discount to benchmark index 0-1% (0.17%) Quantitative Information about Level 3 Fair Value Measurements Range of Fair Value at Inputs (dollars in thousands) 12/31/2018 Valuation Technique Unobservable Input (Average) State and municipal securities $ 150 Price to type, par, call Discount to benchmark index 0-1% (0.17%) The primary methodology used in the fair value measurement of the Company’s state and municipal securities classified as Level 3 is a discount to the AAA municipal benchmark index. Significant increases or (decreases) in this index as well as the degree to which the security differs in ratings, coupon, call and duration will result in a higher or (lower) fair value measurement for those securities that are not callable. For those securities that are continuously callable, a slight premium to par is used. The table below presents the balances of assets measured at fair value on a nonrecurring basis: March 31, 2019 Fair Value Measurements Using Assets (dollars in thousands) Level 1 Level 2 Level 3 at Fair Value Assets Impaired loans: Commercial and industrial loans: Working capital lines of credit loans $ 0 $ 0 $ 3,693 $ 3,693 Non-working capital loans 0 0 4,787 4,787 Commercial real estate and multi-family residential loans: Owner occupied loans 0 0 732 732 Agri-business and agricultural loans: Loans secured by farmland 0 0 66 66 Consumer 1-4 family mortgage loans: Closed end first mortgage loans 0 0 486 486 Total impaired loans $ 0 $ 0 $ 9,764 $ 9,764 Other real estate owned 0 0 0 0 Total assets $ 0 $ 0 $ 9,764 $ 9,764 December 31, 2018 Fair Value Measurements Using Assets (dollars in thousands) Level 1 Level 2 Level 3 at Fair Value Assets Impaired loans: Commercial and industrial loans: Working capital lines of credit loans $ 0 $ 0 $ 4,092 $ 4,092 Non-working capital loans 0 0 4,967 4,967 Commercial real estate and multi-family residential loans: Construction and land development loans 0 0 148 148 Owner occupied loans 0 0 1,669 1,669 Agri-business and agricultural loans: Loans secured by farmland 0 0 77 77 Consumer 1-4 family mortgage loans: 0 0 553 553 Total impaired loans $ 0 $ 0 $ 11,506 $ 11,506 Other real estate owned 0 0 316 316 Total assets $ 0 $ 0 $ 11,822 $ 11,822 The following table presents the valuation methodology and unobservable inputs for Level 3 assets measured at fair value on a non-recurring basis at March 31, 2019: (dollars in thousands) Fair Value Valuation Methodology Unobservable Inputs Average Range of Inputs Impaired loans: Commercial and industrial $ 8,480 Collateral based Discount to reflect 51% 0%-100% measurements current market conditions and ultimate collectability Impaired loans: Commercial real estate 732 Collateral based Discount to reflect 35% 0%-53% measurements current market conditions and ultimate collectability Impaired loans: Agribusiness and agricultural 66 Collateral based Discount to reflect 55% measurements current market conditions and ultimate collectability Impaired loans: Consumer 1-4 family mortgage 486 Collateral based Discount to reflect 17% 0%-21% measurements current market conditions and ultimate collectability The following table presents the valuation methodology and unobservable inputs for Level 3 assets measured at fair value on a non-recurring basis at December 31, 2018: (dollars in thousands) Fair Value Valuation Methodology Unobservable Inputs Average Range of Inputs Impaired loans: Commercial and industrial $ 9,059 Collateral based Discount to reflect 48% 4%-100% measurements current market conditions and ultimate collectability Impaired loans: Commercial real estate 1,817 Collateral based Discount to reflect 34% 6%-53% measurements current market conditions and ultimate collectability Impaired loans: Agribusiness and agricultural 77 Collateral based Discount to reflect 49% measurements current market conditions and ultimate collectability Impaired loans: Consumer 1-4 family mortgage 553 Collateral based Discount to reflect 23% 0%-64% measurements current market conditions and ultimate collectability Other real estate owned 316 Collateral based Discount to reflect 0% measurements current market conditions Impaired loans, which are measured for impairment using the fair value of the collateral for collateral dependent loans, had a gross carrying amount of $19.1 million, with a valuation allowance of $9.3 million at March 31, 2019. The change from December 31, 2018 in the fair value of impaired loans resulted in a reduction in the provision for loan losses of $200,000, over the three months ended March 31, 2019. At March 31, 2018, impaired loans had a gross carrying amount of $7.9 million, with a valuation allowance of $1.9 million. The change from December 31, 2017 in the fair value of impaired loans resulted in a net increase in the provision for loan losses of $4.2 million, primarily due to a partial charge-off on one commercial lending relationship in the amount of $4.6 million, over the three months ended March 31, 2018. The following table contains the estimated fair values and the related carrying values of the Company’s financial instruments. Items which are not financial instruments are not included. March 31, 2019 Carrying Estimated Fair Value (dollars in thousands) Value Level 1 Level 2 Level 3 Total Financial Assets: Cash and cash equivalents $ 188,753 $ 185,998 $ 2,755 $ 0 $ 188,753 Securities available for sale 595,553 994 594,409 150 595,553 Real estate mortgages held for sale 3,047 0 3,085 0 3,085 Loans, net 3,889,448 0 0 3,816,004 3,816,004 Federal Reserve and Federal Home Loan Bank stock 13,772 N/A N/A N/A N/A Accrued interest receivable 17,387 8 3,110 14,269 17,387 Financial Liabilities: Certificates of deposit (1,406,580) 0 (1,413,329) 0 (1,413,329) All other deposits (2,740,857) (2,740,857) 0 0 (2,740,857) Other short-term borrowings (122,000) (122,000 ) 0 0 (122,000) Subordinated debentures (30,928) 0 0 (31,199) (31,199) Standby letters of credit (1,151) 0 0 (1,151) (1,151) Accrued interest payable (11,794) (168) (11,621) (5) (11,794) December 31, 2018 Carrying Estimated Fair Value (dollars in thousands) Value Level 1 Level 2 Level 3 Total Financial Assets: Cash and cash equivalents $ 216,922 $ 214,452 $ 2,470 $ 0 $ 216,922 Securities available for sale 585,549 987 584,412 150 585,549 Real estate mortgages held for sale 2,293 0 2,314 0 2,314 Loans, net 3,866,292 0 0 3,786,175 3,786,175 Federal Reserve and Federal Home Loan Bank stock 13,772 N/A N/A N/A N/A Accrued interest receivable 15,518 3 3,569 11,946 15,518 Financial Liabilities: Certificates of deposit (1,419,754) 0 (1,424,553) 0 (1,424,553) All other deposits (2,624,311) (2,624,311) 0 0 (2,624,311) Securities sold under agreements to repurchase (75,555) 0 (75,555) 0 (75,555) Other short-term borrowings (170,000) 0 (169,996) 0 (169,996) Subordinated debentures (30,928) 0 0 (31,195) (31,195) Standby letters of credit (978) 0 0 (978) (978) Accrued interest payable (10,404) (110) (10,289) (5) (10,404) |
SECURITIES SOLD UNDER AGREEMENT
SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE | 3 Months Ended |
Mar. 31, 2019 | |
Securities Sold under Agreements to Repurchase [Abstract] | |
SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE | NOTE 6. SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE Securities sold under agreements to repurchase represent collateralized borrowings with customers located primarily within the Company’s service area. These repurchase liabilities are not covered by federal deposit insurance and are secured by securities owned. The Company retains the right to substitute similar type securities and has the right to withdraw all excess collateral applicable to the repurchase liabilities whenever the collateral values are in excess of the related repurchase liabilities. However, as a means of mitigating market risk, the Company maintains excess collateral to cover normal changes in the repurchase liability by monitoring daily usage. The Company maintains control of the securities through the use of third-party safekeeping arrangements. There were no securities sold under agreements to repurchase at March 31, 2019. Securities sold under agreements to repurchase of $75.6 million, which matured on demand, were secured by mortgage-backed securities with a carrying amount of $100.7 million at December 31, 2018. Additional information concerning recognition of these liabilities is disclosed in Note 8. |
EMPLOYEE BENEFIT PLANS
EMPLOYEE BENEFIT PLANS | 3 Months Ended |
Mar. 31, 2019 | |
Retirement Benefits [Abstract] | |
Pension and Other Postretirement Benefits Disclosure [Text Block] | NOTE 7. EMPLOYEE BENEFIT PLANS Components of net periodic benefit cost: Three Months Ended March 31, Pension Benefits SERP Benefits (dollars in thousands) 2019 2018 2019 2018 Service cost $0 $0 $0 $0 Interest cost 22 23 9 9 Expected return on plan assets (34) (34) (13) (15) Recognized net actuarial (gain) loss 32 48 18 18 Net pension expense (benefit) $20 $37 $14 $12 The Company previously disclosed in its financial statements for the year ended December 31, 2018 that it expected to contribute $0 to its pension plan and $0 to its Supplemental Executive Retirement Plan (“SERP”) in 2019. The Company has not made any contributions to its pension plan or to its SERP as of March 31, 2019. The Company does not expect to make any additional contributions to its pension plan or SERP during the remainder of 2019. As a result of freezing the plan effective April 1, 2000, there is no service cost to record on the pension plan or the SERP for the three-month periods ending March 31, 2019 and 2018. All other components of cost noted in the table above were recorded in other expense under noninterest expenses on the Consolidated Statements of Income for all periods presented. |
OFFSETTING ASSETS AND LIABILITI
OFFSETTING ASSETS AND LIABILITIES | 3 Months Ended |
Mar. 31, 2019 | |
Offsetting Assets And Liabilities [Abstract] | |
OFFSETTING ASSETS AND LIABILITIES | NOTE 8. OFFSETTING ASSETS AND LIABILITIES The following tables summarize gross and net information about financial instruments and derivative instruments that are offset in the statement of financial position or that are subject to an enforceable master netting arrangement at March 31, 2019 and December 31, 2018. March 31, 2019 Gross Gross Amounts Net Amounts Gross Amounts Not Amounts of Offset in the presented in Offset in the Statement Recognized Statement of the Statement of Financial Position Assets/ Financial of Financial Financial Cash Collateral (dollars in thousands) Liabilities Position Position Instruments Received Net Amount Assets Interest Rate Swap Derivatives $4,061 $0 $4,061 $0 $(410) $3,651 Total Assets $4,061 $0 $4,061 $0 $(410) $3,651 Liabilities Interest Rate Swap Derivatives $4,388 $0 $4,388 $0 $(3,730) $658 Repurchase Agreements 0 0 0 0 0 0 Total Liabilities $4,388 $0 $4,388 $0 $(3,730) $658 December 31, 2018 Gross Gross Amounts Net Amounts Gross Amounts Not Amounts of Offset in the presented in Offset in the Statement Recognized Statement of the Statement of Financial Position Assets/ Financial of Financial Financial Cash Collateral (dollars in thousands) Liabilities Position Position Instruments Received Net Amount Assets Interest Rate Swap Derivatives $3,869 $0 $3,869 $0 $(760) $3,109 Total Assets $3,869 $0 $3,869 $0 $(760) $3,109 Liabilities Interest Rate Swap Derivatives $4,025 $0 $4,025 $0 $(560) $3,465 Repurchase Agreements 75,555 0 75,555 (75,555) 0 0 Total Liabilities $79,580 $0 $79,580 $(75,555) $(560) $3,465 If an event of default occurs causing an early termination of an interest rate swap derivative, any early termination amount payable to one party by the other party may be reduced by set-off against any other amount payable by the one party to the other party. If a default in performance of any obligation of a repurchase agreement occurs, each party will set-off property held in respect of transactions against obligations owing in respect of any other transactions. |
EARNINGS PER SHARE
EARNINGS PER SHARE | 3 Months Ended |
Mar. 31, 2019 | |
Earnings Per Share [Abstract] | |
EARNINGS PER SHARE | NOTE 9. EARNINGS PER SHARE Basic earnings per common share is net income divided by the weighted average number of common shares outstanding during the period, including shares held in treasury on behalf of participants in the Company’s Directors Fee Deferral Plan. Diluted earnings per common share includes the dilutive effect of additional potential common shares issuable under stock options, stock awards and warrants, none of which were antidilutive. Three Months Ended March 31, 2019 2018 Weighted average shares outstanding for basic earnings per common share 25,491,093 25,257,414 Dilutive effect of stock options, awards and warrants 174,194 439,450 Weighted average shares outstanding for diluted earnings per common share 25,665,287 25,696,864 Basic earnings per common share $0.85 $0.73 Diluted earnings per common share $0.84 $0.71 |
ACCUMULATED OTHER COMPREHENSIVE
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) | 3 Months Ended |
Mar. 31, 2019 | |
Stockholders' Equity Note [Abstract] | |
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) | NOTE 10. ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) The following tables summarize the changes within each classification of accumulated other comprehensive income (loss) net of tax for the three months ended March 31, 2019 and 2018: Unrealized Gains and Losses on Defined Available- Benefit for-Sales Pension (dollars in thousands) Securities Items Total Balance at January 1, 2019 $(4,796) $(1,395) $(6,191) Other comprehensive income before reclassification 8,663 0 8,663 Amounts reclassified from accumulated other comprehensive income (loss) (23) 38 15 Net current period other comprehensive income 8,640 38 8,678 Balance at March 31, 2019 $3,844 $(1,357) $2,487 Unrealized Gains and Losses on Defined Available- Benefit for-Sales Pension (dollars in thousands) Securities Items Total Balance at January 1, 2018 $784 $(1,454) $(670) Other comprehensive income before reclassification (7,132) 0 (7,132) Amounts reclassified from accumulated other comprehensive income (loss) 6 49 55 Net current period other comprehensive income (7,126) 49 (7,077) Adoption of ASU 2018-02 140 (313) (173) Adoption of ASU 2016-01 (68) 0 (68) Balance at March 31, 2018 $(6,270) $(1,718) $(7,988) Reclassifications out of accumulated comprehensive income for the three months ended March 31, 2019 are as follows: Details about Amount Affected Line Item Accumulated Other Reclassified From in the Statement Comprehensive Accumulated Other Where Net Income Components Comprehensive Income Income is Presented (dollars in thousands) Unrealized gains and losses on available-for-sale securities $23 Net securities gains (losses) Tax effect 0 Income tax expense 23 Net of tax Amortization of defined benefit pension items (50) Other expense Tax effect 12 Income tax expense (38) Net of tax Total reclassifications for the period $(15) Net income Reclassifications out of accumulated comprehensive income for the three months ended March 31, 2018 are as follows: Details about Amount Affected Line Item Accumulated Other Reclassified From in the Statement Comprehensive Accumulated Other Where Net Income Components Comprehensive Income Income is Presented (dollars in thousands) Unrealized gains and losses on available-for-sale securities $(6) Net securities gains (losses) Tax effect 0 Income tax expense (6) Net of tax Amortization of defined benefit pension items (66) Other expense Tax effect 17 Income tax expense (49) Net of tax Total reclassifications for the period $(55) Net income |
LEASES
LEASES | 3 Months Ended |
Mar. 31, 2019 | |
Leases [Abstract] | |
Lessee, Operating Leases [Text Block] | NOTE 11. LEASES The Company leases certain office facilities under long-term operating lease agreements. The leases expire at various dates through 2029 and some include renewal options. Many of these leases require the payment of property taxes, insurance premiums, maintenance and other costs. In many cases, rentals are subject to increase in relation to a cost-of-living index. The Company accounts for lease and non-lease components together as a single lease component. The Company determines if an arrangement is a lease at inception. Operating leases are recorded as a right-of-use (“ROU”) lease assets and are included in other assets on the consolidated balance sheet. The Company’s corresponding lease obligations are included in other liabilities on the consolidated balance sheet. ROU lease assets represent the Company’s right to use an underlying asset for the lease term and lease obligations represent the Company’s obligation to make lease payments arising from the lease. Operating ROU lease assets and obligations are recognized at the commencement date based on the present value of lease payments over the lease term. As most of the Company’s leases do not provide an implicit rate, the Company uses its incremental borrowing rate based on the information available at the commencement date in determining the present value of lease payments. The ROU lease asset also includes any lease payments made and excludes lease incentives. The Company’s lease terms may include options to extend or terminate the lease when it is reasonably certain that the Company will exercise that option. Lease expense for lease payments is recognized on a straight-line basis over the lease term. Short-term leases are leases having a term of twelve months or less. The Company recognizes short-term leases on a straight-line basis and does not record a related lease asset or liability for such leases, as allowed as practical expedient of the standard. The following is a maturity analysis of the operating lease liabilities as of March 31, 2019: Operating lease Years ending December 31, (in thousands) Obligation 2019 $402 2020 561 2021 581 2022 595 2023 606 2024 - 2029 3,495 6,240 Less imputed interest (847) Lease liability $5,393 Right-of-use asset $5,393 Three months ended March 31, 2019 Lease cost Operating lease cost $119 Short-term lease cost 6 Total lease cost $125 Other information Operating cash flows from operating leases $119 Weighted-average remaining lease term - operating leases 10.8 years Weighted average discount rate - operating leases 2.8% |
BASIS OF PRESENTATION (Policies
BASIS OF PRESENTATION (Policies) | 3 Months Ended |
Mar. 31, 2019 | |
Accounting Policies [Abstract] | |
Adoption of New Accounting Standards | Adoption of New Accounting Standards The Company accounts for leases in accordance with ASU 2016-02, “Leases”, which the Company adopted on January 1, 2019. This guidance replaced existing lease guidance in GAAP and requires lessees to recognize lease assets and lease liabilities on the balance sheet for all leases and disclose key information about leasing arrangements. Lessees and lessors are required to recognize and measure leases that exist at the beginning of the earliest period presented using a modified retrospective approach. The Company recorded a right-of-use asset of $5.5 million and a lease liability of $5.5 million upon adoption, and there was no cumulative period adjustment made to retained earnings. This standard did not have a material impact on the Company’s balance sheets or cash flows from operations and had no impact on the Company’s operating results. The most significant impact was the recognition of right-of-use assets and lease obligations for operating leases. The Company elected to adopt the package of practical expedients for this standard. In March 2017, the FASB issued ASU No. 2017-08, “Receivables—Nonrefundable Fees and Other Costs: Premium Amortization on Purchased Callable Debt Securities.” This update amends the amortization period for certain purchased callable debt securities held at a premium. FASB is shortening the amortization period for the premium to the earliest call date. Under current GAAP, entities generally amortize the premium as an adjustment of yield over the contractual life of the instrument. Concerns were raised that current GAAP excludes certain callable debt securities from consideration of early repayment of principal even if the holder is certain that the call will be exercised. As a result, upon the exercise of a call on a callable debt security held at a premium, the unamortized premium is recorded as a loss in earnings. There is diversity in practice (1) in the amortization period for premiums of callable debt securities and (2) in how the potential for exercise of a call is factored into current impairment assessments. The amendments in this update become effective for annual periods and interim periods within those annual periods beginning after December 15, 2018. The Company adopted this new accounting standard on January 1, 2019. The effect of adoption was a reduction in retained earnings of approximately $1.3 million, net of tax, to reflect the acceleration of amortization of premiums on debt securities. In August 2017, the FASB issued ASU 2017-12, “Derivatives and Hedging: Targeted Improvements to Accounting for Hedging Activities”. The purpose of this updated guidance is to better align a company's financial reporting for hedging activities with the economic objectives of those activities. ASU 2017-12 is effective for public business entities for fiscal years beginning after December 15, 2018, with early adoption, including adoption in an interim period, permitted. The Company adopted ASU 2017-12 on January 1, 2019. ASU 2017-12 requires a modified retrospective transition method in which the Company will recognize the cumulative effect of the change on the opening balance of each affected component of equity in the statement of financial position as of the date of adoption. Adopting this standard did not have an impact on the Company’s financial condition or results of operations. |
Newly Issued But Not Yet Effective Accounting Standards | Newly Issued But Not Yet Effective Accounting Standards In June 2016, the FASB issued guidance related to credit losses on financial instruments. This update will change the accounting for credit losses on loans and debt securities. The measurement of expected credit losses is to be based on information about past events, including historical experience, current conditions, and reasonable and supportable forecasts that affect the collectability of the reported amount. For loans, this measurement will take place at the time the financial asset is first added to the balance sheet and periodically thereafter. This differs significantly from the “incurred loss” model required under current GAAP, which delays recognition until it is probable a loss has been incurred. In addition, the guidance will modify the other-than-temporary impairment model for available-for-sale debt securities to require an allowance for credit impairment instead of a direct write-down, which will allow for reversal of credit impairments in future periods. This guidance is effective for public business entities that meet the definition of an SEC filer for fiscal years beginning after December 15, 2019, including interim periods in those fiscal years. The Company has formed a cross-functional committee that has evaluated existing technology and other solutions for calculating losses under this new standard, selected a vendor to validate data currently loaded in the technology solution selected, and reviewed the validation assessment report. The committee has selected a model and is working on initial calculations under the model. Management expects to recognize credit losses earlier upon adoption of this accounting standard and the expected credit loss model than it has historically done under the current incurred credit loss model. While the impact of implementing the CECL model cannot be quantified at this time, the Company expects to recognize a one-time cumulative-effect adjustment to the allowance upon adoption. |
Reclassifications | Reclassifications Certain amounts appearing in the financial statements and notes thereto for prior periods have been reclassified to conform with the current presentation. The reclassifications had no effect on net income or stockholders' equity as previously reported. |
SECURITIES (Tables)
SECURITIES (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
Investments, Debt and Equity Securities [Abstract] | |
Summary of Available-For-Sale Securities | Information related to the fair value and amortized cost of securities available for sale and the related gross unrealized gains and losses recognized in accumulated other comprehensive income is provided in the tables below. Gross Gross Amortized Unrealized Unrealized Fair (dollars in thousands) Cost Gain Losses Value March 31, 2019 U.S. Treasury securities $994 $0 $0 $994 U.S. government sponsored agencies 4,066 0 (77) 3,989 Mortgage-backed securities: residential 320,460 2,378 (2,559) 320,279 Mortgage-backed securities: commercial 38,244 1 (216) 38,029 State and municipal securities 226,924 5,624 (286) 232,262 Total $590,688 $8,003 $(3,138) $595,553 December 31, 2018 U.S. Treasury securities $994 $0 $(7) $987 U.S. government sponsored agencies 4,435 0 (85) 4,350 Mortgage-backed securities: residential 329,516 1,392 (5,496) 325,412 Mortgage-backed securities: commercial 38,712 0 (571) 38,141 State and municipal securities 217,964 1,403 (2,708) 216,659 Total $591,621 $2,795 $(8,867) $585,549 |
Schedule of Available-For-Sale Securities By Maturity | Information regarding the fair value and amortized cost of available for sale debt securities by maturity as of March 31, 2019 is presented below. Maturity information is based on contractual maturity for all securities other than mortgage-backed securities. Actual maturities of securities may differ from contractual maturities because borrowers may have the right to prepay the obligation without a prepayment penalty. Amortized Fair (dollars in thousands) Cost Value Due in one year or less $1,732 $1,742 Due after one year through five years 25,086 25,342 Due after five years through ten years 25,267 25,970 Due after ten years 179,899 184,191 231,984 237,245 Mortgage-backed securities 358,704 358,308 Total debt securities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $590,688 $595,553 |
Schedule of Sales of Securities Available For Sale | Securities proceeds, gross gains and gross losses are presented below. Three months ended March 31, (dollars in thousands) 2019 2018 Sales of securities available for sale Proceeds $13,693 $12,322 Gross gains 70 21 Gross losses (47) (27) Number of securities 17 22 |
Schedule of Available-For-Sale Securities Continuous Unrealized Loss Position | Information regarding securities with unrealized losses as of March 31, 2019 and December 31, 2018 is presented below. The tables divide the securities between those with unrealized losses for less than twelve months and those with unrealized losses for twelve months or more. Less than 12 months 12 months or more Total Fair Unrealized Fair Unrealized Fair Unrealized (dollars in thousands) Value Losses Value Losses Value Losses March 31, 2019 U.S. government sponsored agencies $1,644 $4 $2,345 $73 $3,989 $77 Mortgage-backed securities: residential 27,476 22 161,955 2,537 189,431 2,559 Mortgage-backed securities: commercial 5,096 8 28,819 208 33,915 216 State and municipal securities 7,138 51 19,685 235 26,823 286 Total temporarily impaired $41,354 $85 $212,804 $3,053 $254,158 $3,138 December 31, 2018 U.S. Treasury securities $0 $0 $987 $7 $987 $7 U.S. government sponsored agencies 0 0 4,350 85 4,350 85 Mortgage-backed securities: residential 11,619 12 217,182 5,484 228,801 5,496 Mortgage-backed securities: commercial 0 0 38,141 571 38,141 571 State and municipal securities 26,229 124 85,982 2,584 112,211 2,708 Total temporarily impaired $37,848 $136 $346,642 $8,731 $384,490 $8,867 |
Quantitative Disclosure of Available-For-Sale Securities | The total number of securities with unrealized losses as of March 31, 2019 and December 31, 2018 is presented below. Less than 12 months 12 months or more Total March 31, 2019 U.S. government sponsored agencies 1 1 2 Mortgage-backed securities: residential 12 64 76 Mortgage-backed securities: commercial 1 7 8 State and municipal securities 10 22 32 Total temporarily impaired 24 94 118 December 31, 2018 U.S. Treasury securities 0 1 1 U.S. government sponsored agencies 0 2 2 Mortgage-backed securities: residential 5 84 89 Mortgage-backed securities: commercial 0 9 9 State and municipal securities 35 111 146 Total temporarily impaired 40 207 247 |
LOANS (Tables)
LOANS (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
Receivables [Abstract] | |
Schedule of Loans | March 31, December 31, (dollars in thousands) 2019 2018 Commercial and industrial loans: Working capital lines of credit loans $726,895 18.4 % $690,620 17.6 % Non-working capital loans 700,447 17.8 714,759 18.3 Total commercial and industrial loans 1,427,342 36.2 1,405,379 35.9 Commercial real estate and multi-family residential loans: Construction and land development loans 293,818 7.5 266,805 6.8 Owner occupied loans 557,296 14.1 586,325 15.0 Nonowner occupied loans 537,569 13.7 520,901 13.3 Multifamily loans 240,939 6.1 195,604 5.0 Total commercial real estate and multi-family residential loans 1,629,622 41.4 1,569,635 40.1 Agri-business and agricultural loans: Loans secured by farmland 139,645 3.6 177,503 4.6 Loans for agricultural production 162,662 4.1 193,010 4.9 Total agri-business and agricultural loans 302,307 7.7 370,513 9.5 Other commercial loans 112,021 2.8 95,657 2.4 Total commercial loans 3,471,292 88.1 3,441,184 87.9 Consumer 1-4 family mortgage loans: Closed end first mortgage loans 188,777 4.8 185,822 4.7 Open end and junior lien loans 182,791 4.7 187,030 4.8 Residential construction and land development loans 13,142 0.3 16,226 0.4 Total consumer 1-4 family mortgage loans 384,710 9.8 389,078 9.9 Other consumer loans 84,650 2.1 86,064 2.2 Total consumer loans 469,360 11.9 475,142 12.1 Subtotal 3,940,652 100.0 % 3,916,326 100.0 % Less: Allowance for loan losses (49,562) (48,453) Net deferred loan fees (1,642) (1,581) Loans, net $3,889,448 $3,866,292 |
ALLOWANCE FOR LOAN LOSSES AND_2
ALLOWANCE FOR LOAN LOSSES AND CREDIT QUALITY (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
Receivables [Abstract] | |
In Allowance For Loan Losses and Recorded Investment In Loans By Portfolio Segment | The following tables present the activity in the allowance for loan losses by portfolio segment for the three-month periods ended March 31, 2019 and 2018: Commercial Real Estate Commercial and Agri-business Consumer and Multifamily and Other 1-4 Family Other (dollars in thousands) Industrial Residential Agricultural Commercial Mortgage Consumer Unallocated Total Three Months Ended March 31, 2019 Beginning balance, January 1 $ 22,518 $ 15,393 $ 4,305 $ 368 $ 2,292 $ 283 $ 3,294 $ 48,453 Provision for loan losses 1,493 18 (161 ) 5 45 85 (285 ) 1,200 Loans charged-off (83 ) 0 0 0 (82 ) (119 ) 0 (284 ) Recoveries 102 36 2 0 11 42 0 193 Net loans charged-off 19 36 2 0 (71 ) (77 ) 0 (91 ) Ending balance $ 24,030 $ 15,447 $ 4,146 $ 373 $ 2,266 $ 291 $ 3,009 $ 49,562 Commercial Real Estate Commercial and Agri-business Consumer and Multifamily and Other 1-4 Family Other (dollars in thousands) Industrial Residential Agricultural Commercial Mortgage Consumer Unallocated Total Three Months Ended March 31, 2018 Beginning balance, January 1 $ 21,097 $ 14,714 $ 4,920 $ 577 $ 2,768 $ 379 $ 2,666 $ 47,121 Provision for loan losses 3,902 207 (76 ) (67 ) (794 ) (49 ) 177 3,300 Loans charged-off (4,360 ) (491 ) 0 0 (7 ) (119 ) 0 (4,977 ) Recoveries 86 8 4 0 51 34 0 183 Net loans charged-off (4,274 ) (483 ) 4 0 44 (85 ) 0 (4,794 ) Ending balance $ 20,725 $ 14,438 $ 4,848 $ 510 $ 2,018 $ 245 $ 2,843 $ 45,627 The following tables present the balance in the allowance for loan losses and the recorded investment in loans by portfolio segment and based on impairment method as of March 31, 2019 and December 31, 2018: Commercial Real Estate Commercial and Agri-business Consumer and Multifamily and Other 1-4 Family Other (dollars in thousands) Industrial Residential Agricultural Commercial Mortgage Consumer Unallocated Total March 31, 2019 Allowance for loan losses: Ending allowance balance attributable to loans: Individually evaluated for impairment $ 8,860 $ 398 $ 81 $ 0 $ 467 $ 28 $ 0 $ 9,834 Collectively evaluated for impairment 15,170 15,049 4,065 373 1,799 263 3,009 39,728 Total ending allowance balance $ 24,030 $ 15,447 $ 4,146 $ 373 $ 2,266 $ 291 $ 3,009 $ 49,562 Loans: Loans individually evaluated for impairment $ 18,611 $ 3,441 $ 430 $ 0 $ 2,022 $ 43 $ 0 $ 24,547 Loans collectively evaluated for impairment 1,408,737 1,623,594 301,976 111,875 383,913 84,368 0 3,914,463 Total ending loans balance $ 1,427,348 $ 1,627,035 $ 302,406 $ 111,875 $ 385,935 $ 84,411 $ 0 $ 3,939,010 Commercial Real Estate Commercial and Agri-business Consumer and Multifamily and Other 1-4 Family Other (dollars in thousands) Industrial Residential Agricultural Commercial Mortgage Consumer Unallocated Total December 31, 2018 Allowance for loan losses: Ending allowance balance attributable to loans: Individually evaluated for impairment $ 8,552 $ 921 $ 73 $ 0 $ 457 $ 26 $ 0 $ 10,029 Collectively evaluated for impairment 13,966 14,472 4,232 368 1,835 257 3,294 38,424 Total ending allowance balance $ 22,518 $ 15,393 $ 4,305 $ 368 $ 2,292 $ 283 $ 3,294 $ 48,453 Loans: Loans individually evaluated for impairment $ 19,734 $ 4,266 $ 433 $ 0 $ 2,240 $ 44 $ 0 $ 26,717 Loans collectively evaluated for impairment 1,385,604 1,562,899 370,174 95,520 388,053 85,778 0 3,888,028 Total ending loans balance $ 1,405,338 $ 1,567,165 $ 370,607 $ 95,520 $ 390,293 $ 85,822 $ 0 $ 3,914,745 |
Loans individually evaluated for impairment | The following table presents loans individually evaluated for impairment by class of loans as of March 31, 2019: Unpaid Allowance for Principal Recorded Loan Losses (dollars in thousands) Balance Investment Allocated With no related allowance recorded: Commercial and industrial loans: Working capital lines of credit loans $ 2,904 $ 212 $ 0 Non-working capital loans 2,345 950 0 Commercial real estate and multi-family residential loans: Owner occupied loans 2,272 1,667 0 Agri-business and agricultural loans: Loans secured by farmland 603 283 0 Consumer 1-4 family loans: Closed end first mortgage loans 224 143 0 Open end and junior lien loans 98 98 0 With an allowance recorded: Commercial and industrial loans: Working capital lines of credit loans 6,698 6,390 2,874 Non-working capital loans 11,016 11,059 5,986 Commercial real estate and multi-family residential loans: Owner occupied loans 1,774 1,774 398 Agri-business and agricultural loans: Loans secured by farmland 147 147 81 Consumer 1-4 family mortgage loans: Closed end first mortgage loans 1,779 1,781 467 Other consumer loans 43 43 28 Total $ 29,903 $ 24,547 $ 9,834 The following table presents loans individually evaluated for impairment by class of loans as of December 31, 2018: Unpaid Allowance for Principal Recorded Loan Losses (dollars in thousands) Balance Investment Allocated With no related allowance recorded: Commercial and industrial loans: Non-working capital loans $ 3,284 $ 1,889 $ 0 Commercial real estate and multi-family residential loans: Owner occupied loans 1,773 1,527 0 Agri-business and agricultural loans: Loans secured by farmland 603 283 0 Consumer 1-4 family loans: Closed end first mortgage loans 583 502 0 Open end and junior lien loans 220 220 0 With an allowance recorded: Commercial and industrial loans: Working capital lines of credit loans 9,691 6,694 2,602 Non-working capital loans 11,099 11,151 5,950 Commercial real estate and multi-family residential loans: Construction and land development loans 291 291 142 Owner occupied loans 2,938 2,448 779 Agri-business and agricultural loans: Loans secured by farmland 150 150 73 Consumer 1-4 family mortgage loans: Closed end first mortgage loans 1,517 1,518 457 Other consumer loans 45 44 26 Total $ 32,194 $ 26,717 $ 10,029 The following table presents loans individually evaluated for impairment by class of loans as of and for the three-month period ended March 31, 2019: Cash Basis Average Interest Interest Recorded Income Income (dollars in thousands) Investment Recognized Recognized With no related allowance recorded: Commercial and industrial loans: Working capital lines of credit loans $ 155 $ 1 $ 0 Non-working capital loans 1,549 29 24 Commercial real estate and multi-family residential loans: Owner occupied loans 1,621 11 8 Agri-business and agricultural loans: Loans secured by farmland 283 0 0 Consumer 1-4 family loans: Closed end first mortgage loans 380 1 1 Open end and junior lien loans 193 0 0 With an allowance recorded: Commercial and industrial loans: Working capital lines of credit loans 6,487 72 59 Non-working capital loans 11,416 132 128 Commercial real estate and multi-family residential loans: Owner occupied loans 2,080 13 12 Agri-business and agricultural loans: Loans secured by farmland 147 2 1 Consumer 1-4 family mortgage loans: Closed end first mortgage loans 1,598 12 12 Other consumer loans 43 1 1 Total $ 25,952 $ 274 $ 246 The following table presents loans individually evaluated for impairment by class of loans as of and for the three-month period ended March 31, 2018: Cash Basis Average Interest Interest Recorded Income Income (dollars in thousands) Investment Recognized Recognized With no related allowance recorded: Commercial and industrial loans: Working capital lines of credit loans $ 1,011 $ 7 $ 2 Non-working capital loans 1,728 15 5 Commercial real estate and multi-family residential loans: Construction and land development loans 102 1 0 Owner occupied loans 2,557 7 2 Agri-business and agricultural loans: Loans secured by farmland 283 0 0 Consumer 1-4 family loans: Closed end first mortgage loans 543 2 1 Open end and junior lien loans 92 0 0 With an allowance recorded: Commercial and industrial loans: Working capital lines of credit loans 1,608 2 1 Non-working capital loans 3,216 2 0 Commercial real estate and multi-family residential loans: Construction and land development loans 721 11 5 Owner occupied loans 1,194 0 0 Consumer 1-4 family mortgage loans: Closed end first mortgage loans 968 7 4 Open end and junior lien loans 154 0 0 Other consumer loans 49 1 0 Total $ 14,226 $ 55 $ 20 |
Aging of the Recorded Investment in Past Due Loans | The following table presents the aging of the recorded investment in past due loans as of March 31, 2019 by class of loans: Greater than 30-89 90 Days Past Total Past Loans Not Days Due and Still Due and (dollars in thousands) Past Due Past Due Accruing Nonaccrual Nonaccrual Total Commercial and industrial loans: Working capital lines of credit loans $ 720,597 $ 4,308 $ 0 $ 2,118 $ 6,426 $ 727,023 Non-working capital loans 695,711 3,354 0 1,260 4,614 700,325 Commercial real estate and multi-family residential loans: Construction and land development loans 292,627 0 0 0 0 292,627 Owner occupied loans 554,668 47 481 1,749 2,277 556,945 Nonowner occupied loans 536,900 142 0 0 142 537,042 Multifamily loans 240,421 0 0 0 0 240,421 Agri-business and agricultural loans: Loans secured by farmland 139,230 147 0 283 430 139,660 Loans for agricultural production 162,746 0 0 0 0 162,746 Other commercial loans 111,875 0 0 0 0 111,875 Consumer 1-4 family mortgage loans: Closed end first mortgage loans 186,373 1,466 0 588 2,054 188,427 Open end and junior lien loans 184,217 87 0 98 185 184,402 Residential construction loans 13,106 0 0 0 0 13,106 Other consumer loans 84,265 146 0 0 146 84,411 Total $ 3,922,736 $ 9,697 $ 481 $ 6,096 $ 16,274 $ 3,939,010 The following table presents the aging of the recorded investment in past due loans as of December 31, 2018 by class of loans: Greater than 30-89 90 Days Past Total Past Loans Not Days Due and Still Due and (dollars in thousands) Past Due Past Due Accruing Nonaccrual Nonaccrual Total Commercial and industrial loans: Working capital lines of credit loans $ 684,191 $ 4,328 $ 0 $ 2,245 $ 6,573 $ 690,764 Non-working capital loans 709,629 3,368 0 1,577 4,945 714,574 Commercial real estate and multi-family residential loans: Construction and land development loans 265,544 0 0 0 0 265,544 Owner occupied loans 583,214 486 0 2,269 2,755 585,969 Nonowner occupied loans 520,431 57 0 0 57 520,488 Multi-family loans 195,164 0 0 0 0 195,164 Agri-business and agricultural loans: Loans secured by farmland 177,080 150 0 283 433 177,513 Loans for agricultural production 193,094 0 0 0 0 193,094 Other commercial loans 95,520 0 0 0 0 95,520 Consumer 1-4 family mortgage loans: Closed end first mortgage loans 183,420 1,370 0 671 2,041 185,461 Open end and junior lien loans 188,320 98 0 220 318 188,638 Residential construction loans 16,194 0 0 0 0 16,194 Other consumer loans 85,654 168 0 0 168 85,822 Total $ 3,897,455 $ 10,025 $ 0 $ 7,265 $ 17,290 $ 3,914,745 |
Troubled Debt Restructuring | The Company is not committed to lend additional funds to debtors whose loans have been modified in a troubled debt restructuring. March 31 December 31 (dollars in thousands) 2019 2018 Accruing troubled debt restructured loans $ 6,196 $ 8,016 Nonaccrual troubled debt restructured loans 3,812 4,384 Total troubled debt restructured loans $ 10,008 $ 12,400 |
Loans by Class Modified as Troubled Debt Restructurings | The following table presents loans by class modified as new troubled debt restructurings that occurred during the three months ended March 31, 2019: Modified Repayment Terms Pre-Modification Post-Modification Extension Outstanding Outstanding Period or Number of Recorded Recorded Number of Range (dollars in thousands) Loans Investment Investment Loans (in months) Troubled Debt Restructurings Commercial and industrial loans: Working capital lines of credit loans 1 35 35 1 0 Total 1 $ 35 $ 35 1 0 The following table presents loans by class modified as new troubled debt restructurings that occurred during the three months ended March 31, 2018: Modified Repayment Terms Pre-Modification Post-Modification Extension Outstanding Outstanding Period or Number of Recorded Recorded Number of Range (dollars in thousands) Loans Investment Investment Loans (in months) Troubled Debt Restructurings Commercial and industrial loans: Working capital lines of credit loans 1 $ 600 $ 600 1 0 Non-working capital loans 1 1,400 1,400 1 0 Commercial real estate and multi- family residential loans: Construction and land development loans 1 824 824 1 12 Owner occupied loans 1 387 387 1 12 Consumer 1-4 family loans: Closed end first mortgage loans 1 198 197 1 239 Total 5 $ 3,409 $ 3,408 5 0 239 |
Credit Quality Indicators | As of March 31, 2019, and based on the most recent analysis performed, the risk category of loans by class of loans is as follows: Special Not (dollars in thousands) Pass Mention Substandard Doubtful Rated Total Commercial and industrial loans: Working capital lines of credit loans $ 638,075 $ 59,140 $ 29,489 $ 0 $ 319 $ 727,023 Non-working capital loans 651,748 17,072 25,632 0 5,873 700,325 Commercial real estate and multi- family residential loans: Construction and land development loans 292,275 352 0 0 0 292,627 Owner occupied loans 509,539 25,024 22,382 0 0 556,945 Nonowner occupied loans 533,975 2,439 628 0 0 537,042 Multifamily loans 240,211 210 0 0 0 240,421 Agri-business and agricultural loans: Loans secured by farmland 128,492 9,388 1,780 0 0 139,660 Loans for agricultural production 153,470 7,476 1,800 0 0 162,746 Other commercial loans 111,871 0 0 0 4 111,875 Consumer 1-4 family mortgage loans: Closed end first mortgage loans 56,681 0 1,924 0 129,822 188,427 Open end and junior lien loans 8,613 0 98 0 175,691 184,402 Residential construction loans 0 0 0 0 13,106 13,106 Other consumer loans 12,868 0 43 0 71,500 84,411 Total $ 3,337,818 $ 121,101 $ 83,776 $ 0 $ 396,315 $ 3,939,010 As of December 31, 2018, and based on the most recent analysis performed, the risk category of loans by class of loans is as follows: Special Not (dollars in thousands) Pass Mention Substandard Doubtful Rated Total Commercial and industrial loans: Working capital lines of credit loans $ 618,612 $ 43,240 $ 28,563 $ 0 $ 349 $ 690,764 Non-working capital loans 664,787 15,992 27,548 0 6,247 714,574 Commercial real estate and multi- family residential loans: Construction and land development loans 264,900 353 291 0 0 265,544 Owner occupied loans 541,734 21,864 22,371 0 0 585,969 Nonowner occupied loans 517,356 2,491 641 0 0 520,488 Multifamily loans 194,948 216 0 0 0 195,164 Agri-business and agricultural loans: Loans secured by farmland 166,623 9,107 1,783 0 0 177,513 Loans for agricultural production 183,189 8,155 1,750 0 0 193,094 Other commercial loans 95,516 0 0 0 4 95,520 Consumer 1-4 family mortgage loans: Closed end first mortgage loans 54,879 0 2,021 0 128,561 185,461 Open end and junior lien loans 8,810 0 220 0 179,608 188,638 Residential construction loans 0 0 0 0 16,194 16,194 Other consumer loans 12,700 0 44 0 73,078 85,822 Total $ 3,324,054 $ 101,418 $ 85,232 $ 0 $ 404,041 $ 3,914,745 |
FAIR VALUE DISCLOSURES (Tables)
FAIR VALUE DISCLOSURES (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
Fair Value Disclosures [Abstract] | |
Schedule of Assets Measured at Fair Value on a Recurring Basis | The table below presents the balances of assets measured at fair value on a recurring basis: March 31, 2019 Fair Value Measurements Using Assets (dollars in thousands) Level 1 Level 2 Level 3 at Fair Value Assets U.S. Treasury securities $ 994 $ 0 $ 0 $ 994 U.S. government sponsored agency securities 0 3,989 0 3,989 Mortgage-backed securities: residential 0 320,279 0 320,279 Mortgage-backed securities: commercial 0 38,029 0 38,029 State and municipal securities 0 232,112 150 232,262 Total Securities 994 594,409 150 595,553 Mortgage banking derivative 0 209 0 209 Interest rate swap derivative 0 4,061 0 4,061 Total assets $ 994 $ 598,679 $ 150 $ 599,823 Liabilities Mortgage banking derivative 0 52 0 52 Interest rate swap derivative 0 4,388 0 4,388 Total liabilities $ 0 $ 4,440 $ 0 $ 4,440 December 31, 2018 Fair Value Measurements Using Assets (dollars in thousands) Level 1 Level 2 Level 3 at Fair Value Assets U.S. Treasury securities $ 987 $ 0 $ 0 $ 987 U.S. government sponsored agency securities 0 4,350 0 4,350 Mortgage-backed securities: residential 0 325,412 0 325,412 Mortgage-backed securities: commercial 0 38,141 0 38,141 State and municipal securities 0 216,509 150 216,659 Total Securities 987 584,412 150 585,549 Mortgage banking derivative 0 95 0 95 Interest rate swap derivative 0 3,869 0 3,869 Total assets $ 987 $ 588,376 $ 150 $ 589,513 Liabilities Mortgage banking derivative 0 23 0 23 Interest rate swap derivative 0 4,025 0 4,025 Total liabilities $ 0 $ 4,048 $ 0 $ 4,048 |
Schedule of Reconciliation of All Assets Measured at Fair Value on a Recurring Basis Using Significant Unobservable Inputs | The table below presents a reconciliation of all assets measured at fair value on a recurring basis using significant unobservable inputs (Level 3) for the three months ended March 31, 2019 and 2018: State and Municipal Securities (dollars in thousands) 2019 2018 Balance of recurring Level 3 assets at January 1 $ 150 $ 880 Changes in fair value of securities included in other comprehensive income 0 (4) Principal payments 0 (45) Balance of recurring Level 3 assets at March 31 $ 150 $ 831 |
Fair Value Measurements, Recurring, Valuation Techniques | The state and municipal securities measured at fair value included below are non-rated Indiana municipal revenue bonds and are not actively traded. Quantitative Information about Level 3 Fair Value Measurements Range of Fair Value at Inputs (dollars in thousands) 3/31/2019 Valuation Technique Unobservable Input (Average) State and municipal securities $ 150 Price to type, par, call Discount to benchmark index 0-1% (0.17%) Quantitative Information about Level 3 Fair Value Measurements Range of Fair Value at Inputs (dollars in thousands) 12/31/2018 Valuation Technique Unobservable Input (Average) State and municipal securities $ 150 Price to type, par, call Discount to benchmark index 0-1% (0.17%) |
Schedule of Assets Measured at Fair Value on a Nonrecurring Basis | The table below presents the balances of assets measured at fair value on a nonrecurring basis: March 31, 2019 Fair Value Measurements Using Assets (dollars in thousands) Level 1 Level 2 Level 3 at Fair Value Assets Impaired loans: Commercial and industrial loans: Working capital lines of credit loans $ 0 $ 0 $ 3,693 $ 3,693 Non-working capital loans 0 0 4,787 4,787 Commercial real estate and multi-family residential loans: Owner occupied loans 0 0 732 732 Agri-business and agricultural loans: Loans secured by farmland 0 0 66 66 Consumer 1-4 family mortgage loans: Closed end first mortgage loans 0 0 486 486 Total impaired loans $ 0 $ 0 $ 9,764 $ 9,764 Other real estate owned 0 0 0 0 Total assets $ 0 $ 0 $ 9,764 $ 9,764 December 31, 2018 Fair Value Measurements Using Assets (dollars in thousands) Level 1 Level 2 Level 3 at Fair Value Assets Impaired loans: Commercial and industrial loans: Working capital lines of credit loans $ 0 $ 0 $ 4,092 $ 4,092 Non-working capital loans 0 0 4,967 4,967 Commercial real estate and multi-family residential loans: Construction and land development loans 0 0 148 148 Owner occupied loans 0 0 1,669 1,669 Agri-business and agricultural loans: Loans secured by farmland 0 0 77 77 Consumer 1-4 family mortgage loans: 0 0 553 553 Total impaired loans $ 0 $ 0 $ 11,506 $ 11,506 Other real estate owned 0 0 316 316 Total assets $ 0 $ 0 $ 11,822 $ 11,822 |
Fair Value Measured On Nonrecurring Basis Valuation Techniques | The following table presents the valuation methodology and unobservable inputs for Level 3 assets measured at fair value on a non-recurring basis at March 31, 2019: (dollars in thousands) Fair Value Valuation Methodology Unobservable Inputs Average Range of Inputs Impaired loans: Commercial and industrial $ 8,480 Collateral based Discount to reflect 51% 0%-100% measurements current market conditions and ultimate collectability Impaired loans: Commercial real estate 732 Collateral based Discount to reflect 35% 0%-53% measurements current market conditions and ultimate collectability Impaired loans: Agribusiness and agricultural 66 Collateral based Discount to reflect 55% measurements current market conditions and ultimate collectability Impaired loans: Consumer 1-4 family mortgage 486 Collateral based Discount to reflect 17% 0%-21% measurements current market conditions and ultimate collectability The following table presents the valuation methodology and unobservable inputs for Level 3 assets measured at fair value on a non-recurring basis at December 31, 2018: (dollars in thousands) Fair Value Valuation Methodology Unobservable Inputs Average Range of Inputs Impaired loans: Commercial and industrial $ 9,059 Collateral based Discount to reflect 48% 4%-100% measurements current market conditions and ultimate collectability Impaired loans: Commercial real estate 1,817 Collateral based Discount to reflect 34% 6%-53% measurements current market conditions and ultimate collectability Impaired loans: Agribusiness and agricultural 77 Collateral based Discount to reflect 49% measurements current market conditions and ultimate collectability Impaired loans: Consumer 1-4 family mortgage 553 Collateral based Discount to reflect 23% 0%-64% measurements current market conditions and ultimate collectability Other real estate owned 316 Collateral based Discount to reflect 0% measurements current market conditions |
Schedule of Fair Values and the Related Carrying Values of Financial Instruments | The following table contains the estimated fair values and the related carrying values of the Company’s financial instruments. Items which are not financial instruments are not included. March 31, 2019 Carrying Estimated Fair Value (dollars in thousands) Value Level 1 Level 2 Level 3 Total Financial Assets: Cash and cash equivalents $ 188,753 $ 185,998 $ 2,755 $ 0 $ 188,753 Securities available for sale 595,553 994 594,409 150 595,553 Real estate mortgages held for sale 3,047 0 3,085 0 3,085 Loans, net 3,889,448 0 0 3,816,004 3,816,004 Federal Reserve and Federal Home Loan Bank stock 13,772 N/A N/A N/A N/A Accrued interest receivable 17,387 8 3,110 14,269 17,387 Financial Liabilities: Certificates of deposit (1,406,580) 0 (1,413,329) 0 (1,413,329) All other deposits (2,740,857) (2,740,857) 0 0 (2,740,857) Other short-term borrowings (122,000) (122,000 ) 0 0 (122,000) Subordinated debentures (30,928) 0 0 (31,199) (31,199) Standby letters of credit (1,151) 0 0 (1,151) (1,151) Accrued interest payable (11,794) (168) (11,621) (5) (11,794) December 31, 2018 Carrying Estimated Fair Value (dollars in thousands) Value Level 1 Level 2 Level 3 Total Financial Assets: Cash and cash equivalents $ 216,922 $ 214,452 $ 2,470 $ 0 $ 216,922 Securities available for sale 585,549 987 584,412 150 585,549 Real estate mortgages held for sale 2,293 0 2,314 0 2,314 Loans, net 3,866,292 0 0 3,786,175 3,786,175 Federal Reserve and Federal Home Loan Bank stock 13,772 N/A N/A N/A N/A Accrued interest receivable 15,518 3 3,569 11,946 15,518 Financial Liabilities: Certificates of deposit (1,419,754) 0 (1,424,553) 0 (1,424,553) All other deposits (2,624,311) (2,624,311) 0 0 (2,624,311) Securities sold under agreements to repurchase (75,555) 0 (75,555) 0 (75,555) Other short-term borrowings (170,000) 0 (169,996) 0 (169,996) Subordinated debentures (30,928) 0 0 (31,195) (31,195) Standby letters of credit (978) 0 0 (978) (978) Accrued interest payable (10,404) (110) (10,289) (5) (10,404) |
EMPLOYEE BENEFIT PLANS (Tables)
EMPLOYEE BENEFIT PLANS (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
Retirement Benefits [Abstract] | |
Schedule of Net Benefit Costs [Table Text Block] | Components of net periodic benefit cost: Three Months Ended March 31, Pension Benefits SERP Benefits (dollars in thousands) 2019 2018 2019 2018 Service cost $0 $0 $0 $0 Interest cost 22 23 9 9 Expected return on plan assets (34) (34) (13) (15) Recognized net actuarial (gain) loss 32 48 18 18 Net pension expense (benefit) $20 $37 $14 $12 |
OFFSETTING ASSETS AND LIABILI_2
OFFSETTING ASSETS AND LIABILITIES (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
Offsettings [Abstract] | |
Offsetting Assets And Liability | The following tables summarize gross and net information about financial instruments and derivative instruments that are offset in the statement of financial position or that are subject to an enforceable master netting arrangement at March 31, 2019 and December 31, 2018. March 31, 2019 Gross Gross Amounts Net Amounts Gross Amounts Not Amounts of Offset in the presented in Offset in the Statement Recognized Statement of the Statement of Financial Position Assets/ Financial of Financial Financial Cash Collateral (dollars in thousands) Liabilities Position Position Instruments Received Net Amount Assets Interest Rate Swap Derivatives $4,061 $0 $4,061 $0 $(410) $3,651 Total Assets $4,061 $0 $4,061 $0 $(410) $3,651 Liabilities Interest Rate Swap Derivatives $4,388 $0 $4,388 $0 $(3,730) $658 Repurchase Agreements 0 0 0 0 0 0 Total Liabilities $4,388 $0 $4,388 $0 $(3,730) $658 December 31, 2018 Gross Gross Amounts Net Amounts Gross Amounts Not Amounts of Offset in the presented in Offset in the Statement Recognized Statement of the Statement of Financial Position Assets/ Financial of Financial Financial Cash Collateral (dollars in thousands) Liabilities Position Position Instruments Received Net Amount Assets Interest Rate Swap Derivatives $3,869 $0 $3,869 $0 $(760) $3,109 Total Assets $3,869 $0 $3,869 $0 $(760) $3,109 Liabilities Interest Rate Swap Derivatives $4,025 $0 $4,025 $0 $(560) $3,465 Repurchase Agreements 75,555 0 75,555 (75,555) 0 0 Total Liabilities $79,580 $0 $79,580 $(75,555) $(560) $3,465 |
EARNINGS PER SHARE (Tables)
EARNINGS PER SHARE (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
Earnings Per Share [Abstract] | |
Schedule of weighted average number of shares | Diluted earnings per common share includes the dilutive effect of additional potential common shares issuable under stock options, stock awards and warrants, none of which were antidilutive. Three Months Ended March 31, 2019 2018 Weighted average shares outstanding for basic earnings per common share 25,491,093 25,257,414 Dilutive effect of stock options, awards and warrants 174,194 439,450 Weighted average shares outstanding for diluted earnings per common share 25,665,287 25,696,864 Basic earnings per common share $0.85 $0.73 Diluted earnings per common share $0.84 $0.71 |
ACCUMULATED OTHER COMPREHENSI_2
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
Stockholders' Equity Note [Abstract] | |
Schedule of Changes in Accumulated Other Comprehensive Income | The following tables summarize the changes within each classification of accumulated other comprehensive income (loss) net of tax for the three months ended March 31, 2019 and 2018: Unrealized Gains and Losses on Defined Available- Benefit for-Sales Pension (dollars in thousands) Securities Items Total Balance at January 1, 2019 $(4,796) $(1,395) $(6,191) Other comprehensive income before reclassification 8,663 0 8,663 Amounts reclassified from accumulated other comprehensive income (loss) (23) 38 15 Net current period other comprehensive income 8,640 38 8,678 Balance at March 31, 2019 $3,844 $(1,357) $2,487 Unrealized Gains and Losses on Defined Available- Benefit for-Sales Pension (dollars in thousands) Securities Items Total Balance at January 1, 2018 $784 $(1,454) $(670) Other comprehensive income before reclassification (7,132) 0 (7,132) Amounts reclassified from accumulated other comprehensive income (loss) 6 49 55 Net current period other comprehensive income (7,126) 49 (7,077) Adoption of ASU 2018-02 140 (313) (173) Adoption of ASU 2016-01 (68) 0 (68) Balance at March 31, 2018 $(6,270) $(1,718) $(7,988) |
Reclassification Accumulated Other Comprehensive Income | Reclassifications out of accumulated comprehensive income for the three months ended March 31, 2019 are as follows: Details about Amount Affected Line Item Accumulated Other Reclassified From in the Statement Comprehensive Accumulated Other Where Net Income Components Comprehensive Income Income is Presented (dollars in thousands) Unrealized gains and losses on available-for-sale securities $23 Net securities gains (losses) Tax effect 0 Income tax expense 23 Net of tax Amortization of defined benefit pension items (50) Other expense Tax effect 12 Income tax expense (38) Net of tax Total reclassifications for the period $(15) Net income Reclassifications out of accumulated comprehensive income for the three months ended March 31, 2018 are as follows: Details about Amount Affected Line Item Accumulated Other Reclassified From in the Statement Comprehensive Accumulated Other Where Net Income Components Comprehensive Income Income is Presented (dollars in thousands) Unrealized gains and losses on available-for-sale securities $(6) Net securities gains (losses) Tax effect 0 Income tax expense (6) Net of tax Amortization of defined benefit pension items (66) Other expense Tax effect 17 Income tax expense (49) Net of tax Total reclassifications for the period $(55) Net income |
LEASES (Tables)
LEASES (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
Leases [Abstract] | |
Lessee, Operating Lease, Liability, Maturity [Table Text Block] | The following is a maturity analysis of the operating lease liabilities as of March 31, 2019: Operating lease Years ending December 31, (in thousands) Obligation 2019 $402 2020 561 2021 581 2022 595 2023 606 2024 - 2029 3,495 Total undiscounted lease payments 6,240 Less imputed interest (847) Lease liability $5,393 Right-of-use asset $5,393 Three months ended March 31, 2019 Lease cost Operating lease cost $119 Short-term lease cost 6 Total lease cost $125 Other information Operating cash flows from operating leases $119 Weighted-average remaining lease term - operating leases 10.8 years Weighted average discount rate - operating leases 2.8% |
BASIS OF PRESENTATION (Addition
BASIS OF PRESENTATION (Additional Information) (Details) $ in Thousands | 3 Months Ended |
Mar. 31, 2019USD ($) | |
Summary of Significant Accounting Policies [Line Items] | |
Operating Lease, Right-of-Use Asset | $ 5,393 |
Operating Lease, Liability, Noncurrent | 5,500 |
Accounting Standards Update 2017-08 [Member] | |
Summary of Significant Accounting Policies [Line Items] | |
Cumulative Effect on Retained Earnings, Net of Tax | $ 1,300 |
SECURITIES (Summary Of Availabl
SECURITIES (Summary Of Available Sale Of Securities) (Details) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
Information related to available for sale securities [Abstract] | ||
Amortized Cost | $ 590,688 | $ 591,621 |
Gross Unrealized Gain | 8,003 | 2,795 |
Gross Unrealized Losses | (3,138) | (8,867) |
Fair Value | 595,553 | 585,549 |
US Treasury Securities [Member] | ||
Information related to available for sale securities [Abstract] | ||
Amortized Cost | 994 | 994 |
Gross Unrealized Gain | 0 | 0 |
Gross Unrealized Losses | 0 | (7) |
Fair Value | 994 | 987 |
US Government Sponsored Agencies [Member] | ||
Information related to available for sale securities [Abstract] | ||
Amortized Cost | 4,066 | 4,435 |
Gross Unrealized Gain | 0 | 0 |
Gross Unrealized Losses | (77) | (85) |
Fair Value | 3,989 | 4,350 |
State and Municipal Securities [Member] | ||
Information related to available for sale securities [Abstract] | ||
Amortized Cost | 226,924 | 217,964 |
Gross Unrealized Gain | 5,624 | 1,403 |
Gross Unrealized Losses | (286) | (2,708) |
Fair Value | 232,262 | 216,659 |
Mortgage-backed securities residential [Member] | ||
Information related to available for sale securities [Abstract] | ||
Amortized Cost | 320,460 | 329,516 |
Gross Unrealized Gain | 2,378 | 1,392 |
Gross Unrealized Losses | (2,559) | (5,496) |
Fair Value | 320,279 | 325,412 |
Mortgage-backed securities commercial [Member] | ||
Information related to available for sale securities [Abstract] | ||
Amortized Cost | 38,244 | 38,712 |
Gross Unrealized Gain | 1 | 0 |
Gross Unrealized Losses | (216) | (571) |
Fair Value | $ 38,029 | $ 38,141 |
SECURITIES (Schedule Of Availab
SECURITIES (Schedule Of Available Sale Of Securities By Maturity) (Details) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
Maturities of Available-for-sale Debt Securities [Abstract] | ||
Amortized Cost, Due in one year or less | $ 1,732 | |
Amortized Cost, Due after one year through five years | 25,086 | |
Amortized Cost, Due after five years through ten years | 25,267 | |
Amortized Cost, Due after ten years | 179,899 | |
Amortized Cost, Available for sale securities with maturities amortized cost | 231,984 | |
Amortized Cost, Mortgage-backed securities | 358,704 | |
Amortized Cost, Total debt securities | 590,688 | $ 591,621 |
Fair Value, Due in one year or less | 1,742 | |
Fair Value, Due after one year through five years | 25,342 | |
Fair Value, Due after five years through ten years | 25,970 | |
Fair Value, Due after ten years | 184,191 | |
Fair Value, Available for sale securities with maturities fair value | 237,245 | |
Fair Value, Mortgage-backed securities | 358,308 | |
Fair Value, Total debt securities | $ 595,553 | $ 585,549 |
SECURITIES (Schedule Of Sales O
SECURITIES (Schedule Of Sales Of Securities Available For Sale) (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Sales of securities available for sale | ||
Proceeds | $ 13,693 | $ 12,322 |
Gross gains | 70 | 21 |
Gross losses | $ (47) | $ (27) |
Number of securities | 17 | 22 |
SECURITIES (Schedule Of Avail_2
SECURITIES (Schedule Of Available Sale Of Securities Continuous Unrealized Loss Position) (Details) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
Securities with unrealized losses [Abstract] | ||
Less than 12 months, Fair Value | $ 41,354 | $ 37,848 |
12 months or more, Fair value | 212,804 | 346,642 |
Total Fair value | 254,158 | 384,490 |
Less than 12 Months, Unrealized Losses | 85 | 136 |
12 Months or more, Unrealized Losses | 3,053 | 8,731 |
Total Unrealized Losses | 3,138 | 8,867 |
US Treasury Securities [Member] | ||
Securities with unrealized losses [Abstract] | ||
Less than 12 months, Fair Value | 0 | |
12 months or more, Fair value | 987 | |
Total Fair value | 987 | |
Less than 12 Months, Unrealized Losses | 0 | |
12 Months or more, Unrealized Losses | 7 | |
Total Unrealized Losses | 7 | |
US Government Sponsored Agencies [Member] | ||
Securities with unrealized losses [Abstract] | ||
Less than 12 months, Fair Value | 1,644 | 0 |
12 months or more, Fair value | 2,345 | 4,350 |
Total Fair value | 3,989 | 4,350 |
Less than 12 Months, Unrealized Losses | 4 | 0 |
12 Months or more, Unrealized Losses | 73 | 85 |
Total Unrealized Losses | 77 | 85 |
State and Municipal Securities [Member] | ||
Securities with unrealized losses [Abstract] | ||
Less than 12 months, Fair Value | 7,138 | 26,229 |
12 months or more, Fair value | 19,685 | 85,982 |
Total Fair value | 26,823 | 112,211 |
Less than 12 Months, Unrealized Losses | 51 | 124 |
12 Months or more, Unrealized Losses | 235 | 2,584 |
Total Unrealized Losses | 286 | 2,708 |
Mortgage-backed securities residential [Member] | ||
Securities with unrealized losses [Abstract] | ||
Less than 12 months, Fair Value | 27,476 | 11,619 |
12 months or more, Fair value | 161,955 | 217,182 |
Total Fair value | 189,431 | 228,801 |
Less than 12 Months, Unrealized Losses | 22 | 12 |
12 Months or more, Unrealized Losses | 2,537 | 5,484 |
Total Unrealized Losses | 2,559 | 5,496 |
Mortgage-backed securities commercial [Member] | ||
Securities with unrealized losses [Abstract] | ||
Less than 12 months, Fair Value | 5,096 | 0 |
12 months or more, Fair value | 28,819 | 38,141 |
Total Fair value | 33,915 | 38,141 |
Less than 12 Months, Unrealized Losses | 8 | 0 |
12 Months or more, Unrealized Losses | 208 | 571 |
Total Unrealized Losses | $ 216 | $ 571 |
SECURITIES (Quantitative Disclo
SECURITIES (Quantitative Disclosure Of Available Sale Of Securities) (Details) | Mar. 31, 2019 | Dec. 31, 2018 |
Number of securities with unrealized losses [Abstract] | ||
Number of available-for-sale securities in unrealized loss positions, less than 12 months | 24 | 40 |
Number of available-for-sale securities in unrealized loss positions, 12 months or more | 94 | 207 |
Available-for-sale, Securities in Unrealized Loss Positions, Number of Positions | 118 | 247 |
US Treasury Securities [Member] | ||
Number of securities with unrealized losses [Abstract] | ||
Number of available-for-sale securities in unrealized loss positions, less than 12 months | 0 | |
Number of available-for-sale securities in unrealized loss positions, 12 months or more | 1 | |
Available-for-sale, Securities in Unrealized Loss Positions, Number of Positions | 1 | |
US Government Sponsored Agencies [Member] | ||
Number of securities with unrealized losses [Abstract] | ||
Number of available-for-sale securities in unrealized loss positions, less than 12 months | 1 | 0 |
Number of available-for-sale securities in unrealized loss positions, 12 months or more | 1 | 2 |
Available-for-sale, Securities in Unrealized Loss Positions, Number of Positions | 2 | 2 |
State and Municipal Securities [Member] | ||
Number of securities with unrealized losses [Abstract] | ||
Number of available-for-sale securities in unrealized loss positions, less than 12 months | 10 | 35 |
Number of available-for-sale securities in unrealized loss positions, 12 months or more | 22 | 111 |
Available-for-sale, Securities in Unrealized Loss Positions, Number of Positions | 32 | 146 |
Mortgage backed securities residential [Member] | ||
Number of securities with unrealized losses [Abstract] | ||
Number of available-for-sale securities in unrealized loss positions, less than 12 months | 12 | 5 |
Number of available-for-sale securities in unrealized loss positions, 12 months or more | 64 | 84 |
Available-for-sale, Securities in Unrealized Loss Positions, Number of Positions | 76 | 89 |
Mortgage backed securities commercial [Member] | ||
Number of securities with unrealized losses [Abstract] | ||
Number of available-for-sale securities in unrealized loss positions, less than 12 months | 1 | 0 |
Number of available-for-sale securities in unrealized loss positions, 12 months or more | 7 | 9 |
Available-for-sale, Securities in Unrealized Loss Positions, Number of Positions | 8 | 9 |
SECURITIES (Additional informat
SECURITIES (Additional information) (Details) - USD ($) $ in Millions | Mar. 31, 2019 | Dec. 31, 2018 |
Information related to available for sale securities [Abstract] | ||
Available-for-sale Securities pledged as collateral | $ 62 | $ 164.7 |
LOANS (Total Loans Outstanding)
LOANS (Total Loans Outstanding) (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | ||
Mar. 31, 2019 | Dec. 31, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Percentage of Total commercial loans | 100.00% | 100.00% | ||
Total Commercial And Consumer Loans | $ 3,940,652 | $ 3,916,326 | ||
Less: Allowance for loan losses | (49,562) | (48,453) | $ (45,627) | $ (47,121) |
Net deferred loan fees | (1,642) | (1,581) | ||
Loans, net | $ 3,889,448 | $ 3,866,292 | ||
Commercial Portfolio Segment [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Percentage of Total commercial loans | 88.10% | 87.90% | ||
Total Commercial And Consumer Loans | $ 3,471,292 | $ 3,441,184 | ||
Multifamily Loans [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Total Commercial And Consumer Loans | $ 240,939 | $ 195,604 | ||
Other consumer loans [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Percentage of Total commercial loans | 2.10% | 2.20% | ||
Total Commercial And Consumer Loans | $ 84,650 | $ 86,064 | ||
Consumer Loan [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Percentage of Total commercial loans | 11.90% | 12.10% | ||
Total Commercial And Consumer Loans | $ 469,360 | $ 475,142 | ||
Commercial and Industrial Loans [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Less: Allowance for loan losses | $ (24,030) | $ (22,518) | (20,725) | (21,097) |
Commercial and Industrial Loans [Member] | Commercial Portfolio Segment [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Percentage of Total commercial loans | 36.20% | 35.90% | ||
Total Commercial And Consumer Loans | $ 1,427,342 | $ 1,405,379 | ||
Commercial and Industrial Loans [Member] | Working Capital Lines Of Credit Loans [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Percentage of Total commercial loans | 18.40% | 17.60% | ||
Total Commercial And Consumer Loans | $ 726,895 | $ 690,620 | ||
Commercial and Industrial Loans [Member] | Non-working Capital Loans [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Percentage of Total commercial loans | 17.80% | 18.30% | ||
Total Commercial And Consumer Loans | $ 700,447 | $ 714,759 | ||
Commercial Real Estate and Multi-family Residential Loans [Member] | Commercial Portfolio Segment [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Percentage of Total commercial loans | 41.40% | 40.10% | ||
Total Commercial And Consumer Loans | $ 1,629,622 | $ 1,569,635 | ||
Commercial Real Estate and Multi-family Residential Loans [Member] | Construction and Land Development Loans [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Percentage of Total commercial loans | 7.50% | 6.80% | ||
Total Commercial And Consumer Loans | $ 293,818 | $ 266,805 | ||
Commercial Real Estate and Multi-family Residential Loans [Member] | Owner Occupied Loans [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Percentage of Total commercial loans | 14.10% | 15.00% | ||
Total Commercial And Consumer Loans | $ 557,296 | $ 586,325 | ||
Commercial Real Estate and Multi-family Residential Loans [Member] | Nonowner Occupied Loans [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Percentage of Total commercial loans | 13.70% | 13.30% | ||
Total Commercial And Consumer Loans | $ 537,569 | $ 520,901 | ||
Commercial Real Estate and Multi-family Residential Loans [Member] | Multifamily Loans [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Percentage of Total commercial loans | 6.10% | 5.00% | ||
Agri-business and Agricultural Loans [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Less: Allowance for loan losses | $ (4,146) | $ (4,305) | $ (4,848) | $ (4,920) |
Agri-business and Agricultural Loans [Member] | Commercial Portfolio Segment [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Percentage of Total commercial loans | 7.70% | 9.50% | ||
Total Commercial And Consumer Loans | $ 302,307 | $ 370,513 | ||
Agri-business and Agricultural Loans [Member] | Loans Secured By Farmland [Member] | Commercial Portfolio Segment [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Percentage of Total commercial loans | 3.60% | 4.60% | ||
Total Commercial And Consumer Loans | $ 139,645 | $ 177,503 | ||
Agri-business and Agricultural Loans [Member] | Loans For Agricultural Production [Member] | Commercial Portfolio Segment [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Percentage of Total commercial loans | 4.10% | 4.90% | ||
Total Commercial And Consumer Loans | $ 162,662 | $ 193,010 | ||
Other Commercial Loans [Member] | Commercial Portfolio Segment [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Percentage of Total commercial loans | 2.80% | 2.40% | ||
Total Commercial And Consumer Loans | $ 112,021 | $ 95,657 | ||
Total Consumer 1 To 4 Family Mortgage Loans [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Percentage of Total commercial loans | 9.80% | 9.90% | ||
Total Commercial And Consumer Loans | $ 384,710 | $ 389,078 | ||
Total Consumer 1 To 4 Family Mortgage Loans [Member] | Closed End First Mortgage Loans [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Percentage of Total commercial loans | 4.80% | 4.70% | ||
Total Commercial And Consumer Loans | $ 188,777 | $ 185,822 | ||
Total Consumer 1 To 4 Family Mortgage Loans [Member] | Open End And Junior Lien Loans [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Percentage of Total commercial loans | 4.70% | 4.80% | ||
Total Commercial And Consumer Loans | $ 182,791 | $ 187,030 | ||
Total Consumer 1 To 4 Family Mortgage Loans [Member] | Residential Construction and Land Development Loans [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Percentage of Total commercial loans | 0.30% | 0.40% | ||
Total Commercial And Consumer Loans | $ 13,142 | $ 16,226 |
LOANS (Additional information)
LOANS (Additional information) (Details) - USD ($) | Mar. 31, 2019 | Dec. 31, 2018 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Mortgage Loans in Process of Foreclosure, Amount | $ 533,000 | $ 586,000 |
ALLOWANCE FOR LOAN LOSSES AND_3
ALLOWANCE FOR LOAN LOSSES AND CREDIT QUALITY (Allowance for loan losses by portfolio segment) (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Beginning balance | $ 48,453 | $ 47,121 |
Provision for loan losses | 1,200 | 3,300 |
Loans charged-off | (284) | (4,977) |
Recoveries | 193 | 183 |
Net loans charged-off/(recovered) | (91) | (4,794) |
Ending balance | 49,562 | 45,627 |
Commercial and Industrial Loans [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Beginning balance | 22,518 | 21,097 |
Provision for loan losses | 1,493 | 3,902 |
Loans charged-off | (83) | (4,360) |
Recoveries | 102 | 86 |
Net loans charged-off/(recovered) | 19 | (4,274) |
Ending balance | 24,030 | 20,725 |
Commercial Real Estate and Multi-Family Residential Loans [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Beginning balance | 15,393 | 14,714 |
Provision for loan losses | 18 | 207 |
Loans charged-off | 0 | (491) |
Recoveries | 36 | 8 |
Net loans charged-off/(recovered) | 36 | (483) |
Ending balance | 15,447 | 14,438 |
Agri-business and Agricultural Loans [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Beginning balance | 4,305 | 4,920 |
Provision for loan losses | (161) | (76) |
Loans charged-off | 0 | 0 |
Recoveries | 2 | 4 |
Net loans charged-off/(recovered) | 2 | 4 |
Ending balance | 4,146 | 4,848 |
Other Commercial [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Beginning balance | 368 | 577 |
Provision for loan losses | 5 | (67) |
Loans charged-off | 0 | 0 |
Recoveries | 0 | 0 |
Net loans charged-off/(recovered) | 0 | 0 |
Ending balance | 373 | 510 |
Consumer 1-4 Family Mortgage Loans [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Beginning balance | 2,292 | 2,768 |
Provision for loan losses | 45 | (794) |
Loans charged-off | (82) | (7) |
Recoveries | 11 | 51 |
Net loans charged-off/(recovered) | (71) | 44 |
Ending balance | 2,266 | 2,018 |
Other Consumer [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Beginning balance | 283 | 379 |
Provision for loan losses | 85 | (49) |
Loans charged-off | (119) | (119) |
Recoveries | 42 | 34 |
Net loans charged-off/(recovered) | (77) | (85) |
Ending balance | 291 | 245 |
Unallocated [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Beginning balance | 3,294 | 2,666 |
Provision for loan losses | (285) | 177 |
Loans charged-off | 0 | 0 |
Recoveries | 0 | 0 |
Net loans charged-off/(recovered) | 0 | 0 |
Ending balance | $ 3,009 | $ 2,843 |
ALLOWANCE FOR LOAN LOSSES AND_4
ALLOWANCE FOR LOAN LOSSES AND CREDIT QUALITY (Balance In The Allowance For Loan Losses And The Recorded Investment In Loans By Portfolio Management) (Details) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 | Mar. 31, 2018 | Dec. 31, 2017 |
Ending allowance balance attributable to loans: | ||||
Individually evaluated for impairment | $ 9,834 | $ 10,029 | ||
Collectively evaluated for impairment | 39,728 | 38,424 | ||
Total ending allowance balance | 49,562 | 48,453 | $ 45,627 | $ 47,121 |
Loans: | ||||
Loans individually evaluated for impairment | 24,547 | 26,717 | ||
Loans collectively evaluated for impairment | 3,914,463 | 3,888,028 | ||
Total ending loans balance | 3,939,010 | 3,914,745 | ||
Commercial and Industrial Loans [Member] | ||||
Ending allowance balance attributable to loans: | ||||
Individually evaluated for impairment | 8,860 | 8,552 | ||
Collectively evaluated for impairment | 15,170 | 13,966 | ||
Total ending allowance balance | 24,030 | 22,518 | 20,725 | 21,097 |
Loans: | ||||
Loans individually evaluated for impairment | 18,611 | 19,734 | ||
Loans collectively evaluated for impairment | 1,408,737 | 1,385,604 | ||
Total ending loans balance | 1,427,348 | 1,405,338 | ||
Commercial Real Estate and Multi-Family Residential Loans [Member] | ||||
Ending allowance balance attributable to loans: | ||||
Individually evaluated for impairment | 398 | 921 | ||
Collectively evaluated for impairment | 15,049 | 14,472 | ||
Total ending allowance balance | 15,447 | 15,393 | 14,438 | 14,714 |
Loans: | ||||
Loans individually evaluated for impairment | 3,441 | 4,266 | ||
Loans collectively evaluated for impairment | 1,623,594 | 1,562,899 | ||
Total ending loans balance | 1,627,035 | 1,567,165 | ||
Agri-business and Agricultural Loans [Member] | ||||
Ending allowance balance attributable to loans: | ||||
Individually evaluated for impairment | 81 | 73 | ||
Collectively evaluated for impairment | 4,065 | 4,232 | ||
Total ending allowance balance | 4,146 | 4,305 | 4,848 | 4,920 |
Loans: | ||||
Loans individually evaluated for impairment | 430 | 433 | ||
Loans collectively evaluated for impairment | 301,976 | 370,174 | ||
Total ending loans balance | 302,406 | 370,607 | ||
Other Commercial [Member] | ||||
Ending allowance balance attributable to loans: | ||||
Individually evaluated for impairment | 0 | 0 | ||
Collectively evaluated for impairment | 373 | 368 | ||
Total ending allowance balance | 373 | 368 | 510 | 577 |
Loans: | ||||
Loans individually evaluated for impairment | 0 | 0 | ||
Loans collectively evaluated for impairment | 111,875 | 95,520 | ||
Total ending loans balance | 111,875 | 95,520 | ||
Consumer 1-4 Family Mortgage Loans [Member] | ||||
Ending allowance balance attributable to loans: | ||||
Individually evaluated for impairment | 467 | 457 | ||
Collectively evaluated for impairment | 1,799 | 1,835 | ||
Total ending allowance balance | 2,266 | 2,292 | 2,018 | 2,768 |
Loans: | ||||
Loans individually evaluated for impairment | 2,022 | 2,240 | ||
Loans collectively evaluated for impairment | 383,913 | 388,053 | ||
Total ending loans balance | 385,935 | 390,293 | ||
Other Consumer [Member] | ||||
Ending allowance balance attributable to loans: | ||||
Individually evaluated for impairment | 28 | 26 | ||
Collectively evaluated for impairment | 263 | 257 | ||
Total ending allowance balance | 291 | 283 | 245 | 379 |
Loans: | ||||
Loans individually evaluated for impairment | 43 | 44 | ||
Loans collectively evaluated for impairment | 84,368 | 85,778 | ||
Total ending loans balance | 84,411 | 85,822 | ||
Unallocated [Member] | ||||
Ending allowance balance attributable to loans: | ||||
Individually evaluated for impairment | 0 | 0 | ||
Collectively evaluated for impairment | 3,009 | 3,294 | ||
Total ending allowance balance | 3,009 | 3,294 | $ 2,843 | $ 2,666 |
Loans: | ||||
Loans individually evaluated for impairment | 0 | 0 | ||
Loans collectively evaluated for impairment | 0 | 0 | ||
Total ending loans balance | $ 0 | $ 0 |
ALLOWANCE FOR LOAN LOSSES AND_5
ALLOWANCE FOR LOAN LOSSES AND CREDIT QUALITY (Loans Individually Evaluated For Impairment) (Details) - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2019 | Mar. 31, 2018 | Dec. 31, 2018 | |
Loans Individually Evaluated for Impairment [Abstract] | |||
Unpaid Principal Balance | $ 29,903 | $ 32,194 | |
Recorded Investment | 24,547 | 26,717 | |
Allowance for loans losses allocated with an allowance recorded | 9,834 | ||
Allowance for Loan Losses Allocated | 9,834 | 10,029 | |
Average Recorded Investment | 25,952 | $ 14,226 | |
Interest Income Recognized | 274 | 55 | |
Cash Basis Interest Income Recogonized | 246 | 20 | |
Other Consumer Loans [Member] | |||
Loans Individually Evaluated for Impairment [Abstract] | |||
Unpaid principal balance with an allowance recorded | 43 | 45 | |
Recorded investment with an allowance recorded | 43 | 44 | |
Allowance for loans losses allocated with an allowance recorded | 28 | 26 | |
Average Recorded Investment with an allowance recorded | 43 | 49 | |
Interest Income Recognized with an allowance recorded | 1 | 1 | |
Commercial and Industrial Loans [Member] | |||
Loans Individually Evaluated for Impairment [Abstract] | |||
Allowance for Loan Losses Allocated | 8,860 | 8,552 | |
Commercial and Industrial Loans [Member] | Working Capital Lines Of Credit Loans [Member] | |||
Loans Individually Evaluated for Impairment [Abstract] | |||
Unpaid principal balance with no related allowance recorded | 2,904 | ||
Unpaid principal balance with an allowance recorded | 6,698 | 9,691 | |
Recorded Investment with no related allowance recorded | 212 | ||
Recorded investment with an allowance recorded | 6,390 | 6,694 | |
Allowance for loan losses allocated with no related allowance recorded | 0 | ||
Allowance for loans losses allocated with an allowance recorded | 2,874 | 2,602 | |
Average Recorded Investment with no related allowance recorded | 155 | 1,011 | |
Average Recorded Investment with an allowance recorded | 6,487 | 1,608 | |
Interest Income Recognized with no related allowance recorded | 1 | 7 | |
Interest Income Recognized with an allowance recorded | 72 | 2 | |
Cash basis interest income recognized with no related allowance recorded | 0 | 2 | |
Cash basis interest income recognized with an allowance recorded | 59 | 1 | |
Commercial and Industrial Loans [Member] | Non-working Capital Loans [Member] | |||
Loans Individually Evaluated for Impairment [Abstract] | |||
Unpaid principal balance with no related allowance recorded | 2,345 | 3,284 | |
Unpaid principal balance with an allowance recorded | 11,016 | 11,099 | |
Recorded Investment with no related allowance recorded | 950 | 1,889 | |
Recorded investment with an allowance recorded | 11,059 | 11,151 | |
Allowance for loan losses allocated with no related allowance recorded | 0 | 0 | |
Allowance for loans losses allocated with an allowance recorded | 5,986 | 5,950 | |
Average Recorded Investment with no related allowance recorded | 1,549 | 1,728 | |
Average Recorded Investment with an allowance recorded | 11,416 | 3,216 | |
Interest Income Recognized with no related allowance recorded | 29 | 15 | |
Interest Income Recognized with an allowance recorded | 132 | 2 | |
Cash basis interest income recognized with no related allowance recorded | 24 | 5 | |
Cash basis interest income recognized with an allowance recorded | 128 | 0 | |
Commercial Real Estate and Multi-Family Residential Loans [Member] | |||
Loans Individually Evaluated for Impairment [Abstract] | |||
Allowance for Loan Losses Allocated | 398 | 921 | |
Commercial Real Estate and Multi-Family Residential Loans [Member] | Construction and Land Development Loans [Member] | |||
Loans Individually Evaluated for Impairment [Abstract] | |||
Unpaid principal balance with no related allowance recorded | 291 | ||
Recorded Investment with no related allowance recorded | 291 | ||
Allowance for loan losses allocated with no related allowance recorded | 142 | ||
Average Recorded Investment with no related allowance recorded | 102 | ||
Average Recorded Investment with an allowance recorded | 721 | ||
Interest Income Recognized with no related allowance recorded | 1 | ||
Interest Income Recognized with an allowance recorded | 11 | ||
Cash basis interest income recognized with no related allowance recorded | 0 | ||
Cash basis interest income recognized with an allowance recorded | 5 | ||
Commercial Real Estate and Multi-Family Residential Loans [Member] | Owner Occupied Loans [Member] | |||
Loans Individually Evaluated for Impairment [Abstract] | |||
Unpaid principal balance with no related allowance recorded | 2,272 | 1,773 | |
Unpaid principal balance with an allowance recorded | 1,774 | 2,938 | |
Recorded Investment with no related allowance recorded | 1,667 | 1,527 | |
Recorded investment with an allowance recorded | 1,774 | 2,448 | |
Allowance for loan losses allocated with no related allowance recorded | 0 | 0 | |
Allowance for loans losses allocated with an allowance recorded | 398 | 779 | |
Average Recorded Investment with no related allowance recorded | 1,621 | 2,557 | |
Average Recorded Investment with an allowance recorded | 2,080 | 1,194 | |
Interest Income Recognized with no related allowance recorded | 11 | 7 | |
Interest Income Recognized with an allowance recorded | 13 | 0 | |
Cash basis interest income recognized with no related allowance recorded | 8 | 2 | |
Cash basis interest income recognized with an allowance recorded | 12 | 0 | |
Agri-business and Agricultural Loans [Member] | |||
Loans Individually Evaluated for Impairment [Abstract] | |||
Allowance for Loan Losses Allocated | 81 | 73 | |
Agri-business and Agricultural Loans [Member] | Loans Secured By Farmland [Member] | |||
Loans Individually Evaluated for Impairment [Abstract] | |||
Unpaid principal balance with no related allowance recorded | 603 | 603 | |
Unpaid principal balance with an allowance recorded | 147 | 150 | |
Recorded Investment with no related allowance recorded | 283 | 283 | |
Recorded investment with an allowance recorded | 147 | 150 | |
Allowance for loan losses allocated with no related allowance recorded | 0 | 0 | |
Allowance for loans losses allocated with an allowance recorded | 81 | 73 | |
Average Recorded Investment with no related allowance recorded | 283 | 283 | |
Average Recorded Investment with an allowance recorded | 147 | ||
Interest Income Recognized with no related allowance recorded | 0 | 0 | |
Interest Income Recognized with an allowance recorded | 2 | ||
Cash basis interest income recognized with no related allowance recorded | 0 | 0 | |
Cash basis interest income recognized with an allowance recorded | 1 | ||
Consumer 1-4 Family Mortgage Loans [Member] | |||
Loans Individually Evaluated for Impairment [Abstract] | |||
Allowance for Loan Losses Allocated | 467 | 457 | |
Consumer 1-4 Family Mortgage Loans [Member] | Closed End First Mortgage Loans [Member] | |||
Loans Individually Evaluated for Impairment [Abstract] | |||
Unpaid principal balance with no related allowance recorded | 224 | 583 | |
Unpaid principal balance with an allowance recorded | 1,779 | 1,517 | |
Recorded Investment with no related allowance recorded | 143 | 502 | |
Recorded investment with an allowance recorded | 1,781 | 1,518 | |
Allowance for loan losses allocated with no related allowance recorded | 0 | 0 | |
Allowance for loans losses allocated with an allowance recorded | 467 | 457 | |
Average Recorded Investment with no related allowance recorded | 380 | 543 | |
Average Recorded Investment with an allowance recorded | 1,598 | 968 | |
Interest Income Recognized with no related allowance recorded | 1 | 2 | |
Interest Income Recognized with an allowance recorded | 12 | 7 | |
Cash basis interest income recognized with no related allowance recorded | 1 | 1 | |
Cash basis interest income recognized with an allowance recorded | 12 | 4 | |
Consumer 1-4 Family Mortgage Loans [Member] | Open End and Junior Lien Loans [Member] | |||
Loans Individually Evaluated for Impairment [Abstract] | |||
Unpaid principal balance with no related allowance recorded | 220 | ||
Unpaid principal balance with an allowance recorded | 98 | ||
Recorded Investment with no related allowance recorded | 220 | ||
Recorded investment with an allowance recorded | 98 | ||
Allowance for loan losses allocated with no related allowance recorded | 0 | $ 0 | |
Average Recorded Investment with no related allowance recorded | 193 | 92 | |
Average Recorded Investment with an allowance recorded | 154 | ||
Interest Income Recognized with no related allowance recorded | 0 | 0 | |
Interest Income Recognized with an allowance recorded | 0 | ||
Cash basis interest income recognized with no related allowance recorded | 0 | 0 | |
Cash basis interest income recognized with an allowance recorded | 0 | ||
Consumer 1-4 Family Mortgage Loans [Member] | Other Consumer Loans [Member] | |||
Loans Individually Evaluated for Impairment [Abstract] | |||
Cash basis interest income recognized with an allowance recorded | $ 1 | $ 0 |
ALLOWANCE FOR LOAN LOSSES AND_6
ALLOWANCE FOR LOAN LOSSES AND CREDIT QUALITY (Aging Of The Recorded Investment In Past Due Loans) (Details) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Loans Not Past Due | $ 3,922,736 | $ 3,897,455 |
30 to 89 Days Past Due | 9,697 | 10,025 |
Greater than 90 Days Past Due and Still Accruing | 481 | 0 |
Nonaccrual | 6,096 | 7,265 |
Total Past Due and Nonaccural | 16,274 | 17,290 |
Total | 3,939,010 | 3,914,745 |
Commercial and Industrial Loans [Member] | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total | 1,427,348 | 1,405,338 |
Commercial and Industrial Loans [Member] | Working Capital Lines Of Credit Loans [Member] | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Loans Not Past Due | 720,597 | 684,191 |
30 to 89 Days Past Due | 4,308 | 4,328 |
Greater than 90 Days Past Due and Still Accruing | 0 | 0 |
Nonaccrual | 2,118 | 2,245 |
Total Past Due and Nonaccural | 6,426 | 6,573 |
Total | 727,023 | 690,764 |
Commercial and Industrial Loans [Member] | Non-working Capital Loans [Member] | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Loans Not Past Due | 695,711 | 709,629 |
30 to 89 Days Past Due | 3,354 | 3,368 |
Greater than 90 Days Past Due and Still Accruing | 0 | 0 |
Nonaccrual | 1,260 | 1,577 |
Total Past Due and Nonaccural | 4,614 | 4,945 |
Total | 700,325 | 714,574 |
Commercial Real Estate and Multi-Family Residential Loans [Member] | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total | 1,627,035 | 1,567,165 |
Commercial Real Estate and Multi-Family Residential Loans [Member] | Construction and Land Development Loans [Member] | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Loans Not Past Due | 292,627 | 265,544 |
30 to 89 Days Past Due | 0 | 0 |
Greater than 90 Days Past Due and Still Accruing | 0 | 0 |
Nonaccrual | 0 | 0 |
Total Past Due and Nonaccural | 0 | 0 |
Total | 292,627 | 265,544 |
Commercial Real Estate and Multi-Family Residential Loans [Member] | Owner Occupied Loans [Member] | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Loans Not Past Due | 554,668 | 583,214 |
30 to 89 Days Past Due | 47 | 486 |
Greater than 90 Days Past Due and Still Accruing | 481 | 0 |
Nonaccrual | 1,749 | 2,269 |
Total Past Due and Nonaccural | 2,277 | 2,755 |
Total | 556,945 | 585,969 |
Commercial Real Estate and Multi-Family Residential Loans [Member] | Nonowner Occupied Loans [Member] | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Loans Not Past Due | 536,900 | 520,431 |
30 to 89 Days Past Due | 142 | 57 |
Greater than 90 Days Past Due and Still Accruing | 0 | 0 |
Nonaccrual | 0 | 0 |
Total Past Due and Nonaccural | 142 | 57 |
Total | 537,042 | 520,488 |
Commercial Real Estate and Multi-Family Residential Loans [Member] | Multi-family Loans [Member] | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Loans Not Past Due | 240,421 | 195,164 |
30 to 89 Days Past Due | 0 | 0 |
Greater than 90 Days Past Due and Still Accruing | 0 | 0 |
Nonaccrual | 0 | 0 |
Total Past Due and Nonaccural | 0 | 0 |
Total | 240,421 | 195,164 |
Agri-business and Agricultural Loans [Member] | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total | 302,406 | 370,607 |
Agri-business and Agricultural Loans [Member] | Loans Secured By Farmland [Member] | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Loans Not Past Due | 139,230 | 177,080 |
30 to 89 Days Past Due | 147 | 150 |
Greater than 90 Days Past Due and Still Accruing | 0 | 0 |
Nonaccrual | 283 | 283 |
Total Past Due and Nonaccural | 430 | 433 |
Total | 139,660 | 177,513 |
Agri-business and Agricultural Loans [Member] | Loans For Agricultural Production [Member] | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Loans Not Past Due | 162,746 | 193,094 |
30 to 89 Days Past Due | 0 | 0 |
Greater than 90 Days Past Due and Still Accruing | 0 | 0 |
Nonaccrual | 0 | 0 |
Total Past Due and Nonaccural | 0 | 0 |
Total | 162,746 | 193,094 |
Agri-business and Agricultural Loans [Member] | Other Commercial Loans [Member] | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Loans Not Past Due | 111,875 | 95,520 |
30 to 89 Days Past Due | 0 | 0 |
Greater than 90 Days Past Due and Still Accruing | 0 | 0 |
Nonaccrual | 0 | 0 |
Total Past Due and Nonaccural | 0 | 0 |
Total | 111,875 | 95,520 |
Consumer 1-4 Family Mortgage Loans [Member] | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total | 385,935 | 390,293 |
Consumer 1-4 Family Mortgage Loans [Member] | Closed End First Mortgage Loans [Member] | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Loans Not Past Due | 186,373 | 183,420 |
30 to 89 Days Past Due | 1,466 | 1,370 |
Greater than 90 Days Past Due and Still Accruing | 0 | 0 |
Nonaccrual | 588 | 671 |
Total Past Due and Nonaccural | 2,054 | 2,041 |
Total | 188,427 | 185,461 |
Consumer 1-4 Family Mortgage Loans [Member] | Open End and Junior Lien Loans [Member] | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Loans Not Past Due | 184,217 | 188,320 |
30 to 89 Days Past Due | 87 | 98 |
Greater than 90 Days Past Due and Still Accruing | 0 | 0 |
Nonaccrual | 98 | 220 |
Total Past Due and Nonaccural | 185 | 318 |
Total | 184,402 | 188,638 |
Consumer 1-4 Family Mortgage Loans [Member] | Residential Construction Loans [Member] | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Loans Not Past Due | 13,106 | 16,194 |
30 to 89 Days Past Due | 0 | 0 |
Greater than 90 Days Past Due and Still Accruing | 0 | 0 |
Nonaccrual | 0 | 0 |
Total Past Due and Nonaccural | 0 | 0 |
Total | 13,106 | 16,194 |
Consumer 1-4 Family Mortgage Loans [Member] | Other consumer loans [Member] | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Loans Not Past Due | 84,265 | 85,654 |
30 to 89 Days Past Due | 146 | 168 |
Greater than 90 Days Past Due and Still Accruing | 0 | 0 |
Nonaccrual | 0 | 0 |
Total Past Due and Nonaccural | 146 | 168 |
Total | $ 84,411 | $ 85,822 |
ALLOWANCE FOR LOAN LOSSES AND_7
ALLOWANCE FOR LOAN LOSSES AND CREDIT QUALITY (Troubled Debt Restructuring) (Details) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
Troubled Debt Restructuring [Abstract] | ||
Accruing troubled debt restructured loans | $ 6,196 | $ 8,016 |
Nonaccrual troubled debt restructured loans | 3,812 | 4,384 |
Total troubled debt restructured loans | $ 10,008 | $ 12,400 |
ALLOWANCE FOR LOAN LOSSES AND_8
ALLOWANCE FOR LOAN LOSSES AND CREDIT QUALITY (Loans By Class Modified As Troubled Debt Restructuring) (Details) $ in Thousands | 3 Months Ended | |
Mar. 31, 2019USD ($)Number | Mar. 31, 2018USD ($)Number | |
Troubled Debt Restructurings Modified During Period [Abstract] | ||
Number of Loans | Number | 1,000 | |
Pre-Modification Outstanding Recorded Investment | $ 3,409 | |
Post-Modification Outstanding Recorded Investment | $ 3,408 | |
Modified Repayment Terms [Member] | ||
Troubled Debt Restructurings Modified During Period [Abstract] | ||
Number of Loans | Number | 5 | |
Modified Repayment Terms [Member] | Minimum [Member] | ||
Troubled Debt Restructurings Modified During Period [Abstract] | ||
Extension period for modified repayment terms | 0 months | 0 months |
Modified Repayment Terms [Member] | Maximum [Member] | ||
Troubled Debt Restructurings Modified During Period [Abstract] | ||
Extension period for modified repayment terms | 239 months | |
All Modifications [Member] | ||
Troubled Debt Restructurings Modified During Period [Abstract] | ||
Number of Loans | Number | 5 | |
Commercial and Industrial Loans [Member] | Modified Repayment Terms [Member] | ||
Troubled Debt Restructurings Modified During Period [Abstract] | ||
Number of Loans | Number | 1 | |
Extension period for modified repayment terms | 0 months | |
Commercial and Industrial Loans [Member] | All Modifications [Member] | ||
Troubled Debt Restructurings Modified During Period [Abstract] | ||
Number of Loans | Number | 1,000 | |
Pre-Modification Outstanding Recorded Investment | $ 35 | |
Post-Modification Outstanding Recorded Investment | 35 | |
Commercial and Industrial Loans [Member] | Working Capital Lines of Credit Loans [Member] | ||
Troubled Debt Restructurings Modified During Period [Abstract] | ||
Pre-Modification Outstanding Recorded Investment | 35 | |
Post-Modification Outstanding Recorded Investment | $ 35 | |
Commercial and Industrial Loans [Member] | Working Capital Lines of Credit Loans [Member] | Modified Repayment Terms [Member] | ||
Troubled Debt Restructurings Modified During Period [Abstract] | ||
Number of Loans | Number | 1 | 1 |
Extension period for modified repayment terms | 0 months | 0 months |
Commercial and Industrial Loans [Member] | Working Capital Lines of Credit Loans [Member] | All Modifications [Member] | ||
Troubled Debt Restructurings Modified During Period [Abstract] | ||
Number of Loans | Number | 1 | |
Pre-Modification Outstanding Recorded Investment | $ 600 | |
Post-Modification Outstanding Recorded Investment | $ 600 | |
Commercial and Industrial Loans [Member] | Non Working Capital Loans [Member] | Modified Repayment Terms [Member] | ||
Troubled Debt Restructurings Modified During Period [Abstract] | ||
Number of Loans | Number | 1 | |
Extension period for modified repayment terms | 0 months | |
Commercial and Industrial Loans [Member] | Non Working Capital Loans [Member] | Modified Repayment Terms [Member] | Minimum [Member] | ||
Troubled Debt Restructurings Modified During Period [Abstract] | ||
Extension period for modified repayment terms | 0 months | |
Commercial and Industrial Loans [Member] | Non Working Capital Loans [Member] | All Modifications [Member] | ||
Troubled Debt Restructurings Modified During Period [Abstract] | ||
Number of Loans | Number | 1 | |
Pre-Modification Outstanding Recorded Investment | $ 1,400 | |
Post-Modification Outstanding Recorded Investment | $ 1,400 | |
Commercial Real Estate and Multi-family Residential Loans [Member] | Owner Occupied Loans [Member] | Modified Repayment Terms [Member] | ||
Troubled Debt Restructurings Modified During Period [Abstract] | ||
Number of Loans | Number | 1 | |
Extension period for modified repayment terms | 12 months | |
Commercial Real Estate and Multi-family Residential Loans [Member] | Owner Occupied Loans [Member] | All Modifications [Member] | ||
Troubled Debt Restructurings Modified During Period [Abstract] | ||
Number of Loans | Number | 1 | |
Pre-Modification Outstanding Recorded Investment | $ 387 | |
Post-Modification Outstanding Recorded Investment | $ 387 | |
Commercial Real Estate and Multi-family Residential Loans [Member] | Construction and Land Development Loans [Member] | Modified Repayment Terms [Member] | ||
Troubled Debt Restructurings Modified During Period [Abstract] | ||
Number of Loans | Number | 1 | |
Extension period for modified repayment terms | 12 months | |
Commercial Real Estate and Multi-family Residential Loans [Member] | Construction and Land Development Loans [Member] | All Modifications [Member] | ||
Troubled Debt Restructurings Modified During Period [Abstract] | ||
Number of Loans | Number | 1 | |
Pre-Modification Outstanding Recorded Investment | $ 824 | |
Post-Modification Outstanding Recorded Investment | $ 824 | |
Consumer 1-4 Family Mortgage Loans [Member] | Closed End First Mortgage Loans [Member] | Modified Repayment Terms [Member] | ||
Troubled Debt Restructurings Modified During Period [Abstract] | ||
Number of Loans | Number | 1 | |
Extension period for modified repayment terms | 239 months | |
Consumer 1-4 Family Mortgage Loans [Member] | Closed End First Mortgage Loans [Member] | Modified Repayment Terms [Member] | Minimum [Member] | ||
Troubled Debt Restructurings Modified During Period [Abstract] | ||
Extension period for modified repayment terms | 239 months | |
Consumer 1-4 Family Mortgage Loans [Member] | Closed End First Mortgage Loans [Member] | All Modifications [Member] | ||
Troubled Debt Restructurings Modified During Period [Abstract] | ||
Number of Loans | Number | 1 | |
Pre-Modification Outstanding Recorded Investment | $ 198 | |
Post-Modification Outstanding Recorded Investment | $ 197 |
ALLOWANCE FOR LOAN LOSSES AND_9
ALLOWANCE FOR LOAN LOSSES AND CREDIT QUALITY (Credit Quality Indicators) (Details) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
Financing Receivable, Recorded Investment [Line Items] | ||
Total ending loans balance | $ 3,939,010 | $ 3,914,745 |
Commercial and Industrial Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total ending loans balance | 1,427,348 | 1,405,338 |
Commercial and Industrial Loans [Member] | Working Capital Lines of Credit Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total ending loans balance | 727,023 | 690,764 |
Commercial and Industrial Loans [Member] | Non-working Capital Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total ending loans balance | 700,325 | 714,574 |
Commercial Real Estate and Multi-family Residential Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total ending loans balance | 1,627,035 | 1,567,165 |
Commercial Real Estate and Multi-family Residential Loans [Member] | Construction and Land Development Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total ending loans balance | 292,627 | 265,544 |
Commercial Real Estate and Multi-family Residential Loans [Member] | Owner Occupied Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total ending loans balance | 556,945 | 585,969 |
Commercial Real Estate and Multi-family Residential Loans [Member] | Nonowner Occupied Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total ending loans balance | 537,042 | 520,488 |
Commercial Real Estate and Multi-family Residential Loans [Member] | Multifamily Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total ending loans balance | 240,421 | 195,164 |
Agri-business and Agricultural Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total ending loans balance | 302,406 | 370,607 |
Agri-business and Agricultural Loans [Member] | Loans Secured By Farmland [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total ending loans balance | 139,660 | 177,513 |
Agri-business and Agricultural Loans [Member] | Loans For Agricultural Production [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total ending loans balance | 162,746 | 193,094 |
Agri-business and Agricultural Loans [Member] | Other Commercial Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total ending loans balance | 111,875 | 95,520 |
Consumer 1-4 Family Mortgage Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total ending loans balance | 385,935 | 390,293 |
Consumer 1-4 Family Mortgage Loans [Member] | Closed End First Mortgage Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total ending loans balance | 188,427 | 185,461 |
Consumer 1-4 Family Mortgage Loans [Member] | Open End And Junior Lien Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total ending loans balance | 184,402 | 188,638 |
Consumer 1-4 Family Mortgage Loans [Member] | Residential Construction and Land Development Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total ending loans balance | 13,106 | 16,194 |
Consumer 1-4 Family Mortgage Loans [Member] | Other Consumer Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total ending loans balance | 84,411 | 85,822 |
Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total ending loans balance | 3,337,818 | 3,324,054 |
Pass [Member] | Commercial and Industrial Loans [Member] | Working Capital Lines of Credit Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total ending loans balance | 638,075 | 618,612 |
Pass [Member] | Commercial and Industrial Loans [Member] | Non-working Capital Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total ending loans balance | 651,748 | 664,787 |
Pass [Member] | Commercial Real Estate and Multi-family Residential Loans [Member] | Construction and Land Development Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total ending loans balance | 292,275 | 264,900 |
Pass [Member] | Commercial Real Estate and Multi-family Residential Loans [Member] | Owner Occupied Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total ending loans balance | 509,539 | 541,734 |
Pass [Member] | Commercial Real Estate and Multi-family Residential Loans [Member] | Nonowner Occupied Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total ending loans balance | 533,975 | 517,356 |
Pass [Member] | Commercial Real Estate and Multi-family Residential Loans [Member] | Multifamily Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total ending loans balance | 240,211 | 194,948 |
Pass [Member] | Agri-business and Agricultural Loans [Member] | Loans Secured By Farmland [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total ending loans balance | 128,492 | 166,623 |
Pass [Member] | Agri-business and Agricultural Loans [Member] | Loans For Agricultural Production [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total ending loans balance | 153,470 | 183,189 |
Pass [Member] | Agri-business and Agricultural Loans [Member] | Other Commercial Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total ending loans balance | 111,871 | 95,516 |
Pass [Member] | Consumer 1-4 Family Mortgage Loans [Member] | Closed End First Mortgage Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total ending loans balance | 56,681 | 54,879 |
Pass [Member] | Consumer 1-4 Family Mortgage Loans [Member] | Open End And Junior Lien Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total ending loans balance | 8,613 | 8,810 |
Pass [Member] | Consumer 1-4 Family Mortgage Loans [Member] | Residential Construction and Land Development Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total ending loans balance | 0 | 0 |
Pass [Member] | Consumer 1-4 Family Mortgage Loans [Member] | Other Consumer Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total ending loans balance | 12,868 | 12,700 |
Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total ending loans balance | 121,101 | 101,418 |
Special Mention [Member] | Commercial and Industrial Loans [Member] | Working Capital Lines of Credit Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total ending loans balance | 59,140 | 43,240 |
Special Mention [Member] | Commercial and Industrial Loans [Member] | Non-working Capital Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total ending loans balance | 17,072 | 15,992 |
Special Mention [Member] | Commercial Real Estate and Multi-family Residential Loans [Member] | Construction and Land Development Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total ending loans balance | 352 | 353 |
Special Mention [Member] | Commercial Real Estate and Multi-family Residential Loans [Member] | Owner Occupied Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total ending loans balance | 25,024 | 21,864 |
Special Mention [Member] | Commercial Real Estate and Multi-family Residential Loans [Member] | Nonowner Occupied Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total ending loans balance | 2,439 | 2,491 |
Special Mention [Member] | Commercial Real Estate and Multi-family Residential Loans [Member] | Multifamily Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total ending loans balance | 210 | 216 |
Special Mention [Member] | Agri-business and Agricultural Loans [Member] | Loans Secured By Farmland [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total ending loans balance | 9,388 | 9,107 |
Special Mention [Member] | Agri-business and Agricultural Loans [Member] | Loans For Agricultural Production [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total ending loans balance | 7,476 | 8,155 |
Special Mention [Member] | Agri-business and Agricultural Loans [Member] | Other Commercial Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total ending loans balance | 0 | 0 |
Special Mention [Member] | Consumer 1-4 Family Mortgage Loans [Member] | Closed End First Mortgage Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total ending loans balance | 0 | 0 |
Special Mention [Member] | Consumer 1-4 Family Mortgage Loans [Member] | Open End And Junior Lien Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total ending loans balance | 0 | 0 |
Special Mention [Member] | Consumer 1-4 Family Mortgage Loans [Member] | Residential Construction and Land Development Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total ending loans balance | 0 | 0 |
Special Mention [Member] | Consumer 1-4 Family Mortgage Loans [Member] | Other Consumer Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total ending loans balance | 0 | 0 |
Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total ending loans balance | 83,776 | 85,232 |
Substandard [Member] | Commercial and Industrial Loans [Member] | Working Capital Lines of Credit Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total ending loans balance | 29,489 | 28,563 |
Substandard [Member] | Commercial and Industrial Loans [Member] | Non-working Capital Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total ending loans balance | 25,632 | 27,548 |
Substandard [Member] | Commercial Real Estate and Multi-family Residential Loans [Member] | Construction and Land Development Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total ending loans balance | 0 | 291 |
Substandard [Member] | Commercial Real Estate and Multi-family Residential Loans [Member] | Owner Occupied Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total ending loans balance | 22,382 | 22,371 |
Substandard [Member] | Commercial Real Estate and Multi-family Residential Loans [Member] | Nonowner Occupied Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total ending loans balance | 628 | 641 |
Substandard [Member] | Commercial Real Estate and Multi-family Residential Loans [Member] | Multifamily Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total ending loans balance | 0 | 0 |
Substandard [Member] | Agri-business and Agricultural Loans [Member] | Loans Secured By Farmland [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total ending loans balance | 1,780 | 1,783 |
Substandard [Member] | Agri-business and Agricultural Loans [Member] | Loans For Agricultural Production [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total ending loans balance | 1,800 | 1,750 |
Substandard [Member] | Agri-business and Agricultural Loans [Member] | Other Commercial Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total ending loans balance | 0 | 0 |
Substandard [Member] | Consumer 1-4 Family Mortgage Loans [Member] | Closed End First Mortgage Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total ending loans balance | 1,924 | 2,021 |
Substandard [Member] | Consumer 1-4 Family Mortgage Loans [Member] | Open End And Junior Lien Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total ending loans balance | 98 | 220 |
Substandard [Member] | Consumer 1-4 Family Mortgage Loans [Member] | Residential Construction and Land Development Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total ending loans balance | 0 | 0 |
Substandard [Member] | Consumer 1-4 Family Mortgage Loans [Member] | Other Consumer Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total ending loans balance | 43 | 44 |
Doubtful [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total ending loans balance | 0 | 0 |
Doubtful [Member] | Commercial and Industrial Loans [Member] | Working Capital Lines of Credit Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total ending loans balance | 0 | 0 |
Doubtful [Member] | Commercial and Industrial Loans [Member] | Non-working Capital Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total ending loans balance | 0 | 0 |
Doubtful [Member] | Commercial Real Estate and Multi-family Residential Loans [Member] | Construction and Land Development Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total ending loans balance | 0 | 0 |
Doubtful [Member] | Commercial Real Estate and Multi-family Residential Loans [Member] | Owner Occupied Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total ending loans balance | 0 | 0 |
Doubtful [Member] | Commercial Real Estate and Multi-family Residential Loans [Member] | Nonowner Occupied Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total ending loans balance | 0 | 0 |
Doubtful [Member] | Commercial Real Estate and Multi-family Residential Loans [Member] | Multifamily Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total ending loans balance | 0 | 0 |
Doubtful [Member] | Agri-business and Agricultural Loans [Member] | Loans Secured By Farmland [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total ending loans balance | 0 | 0 |
Doubtful [Member] | Agri-business and Agricultural Loans [Member] | Loans For Agricultural Production [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total ending loans balance | 0 | 0 |
Doubtful [Member] | Agri-business and Agricultural Loans [Member] | Other Commercial Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total ending loans balance | 0 | 0 |
Doubtful [Member] | Consumer 1-4 Family Mortgage Loans [Member] | Closed End First Mortgage Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total ending loans balance | 0 | 0 |
Doubtful [Member] | Consumer 1-4 Family Mortgage Loans [Member] | Open End And Junior Lien Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total ending loans balance | 0 | 0 |
Doubtful [Member] | Consumer 1-4 Family Mortgage Loans [Member] | Residential Construction and Land Development Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total ending loans balance | 0 | 0 |
Doubtful [Member] | Consumer 1-4 Family Mortgage Loans [Member] | Other Consumer Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total ending loans balance | 0 | 0 |
Not Rated [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total ending loans balance | 396,315 | 404,041 |
Not Rated [Member] | Commercial and Industrial Loans [Member] | Working Capital Lines of Credit Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total ending loans balance | 319 | 349 |
Not Rated [Member] | Commercial and Industrial Loans [Member] | Non-working Capital Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total ending loans balance | 5,873 | 6,247 |
Not Rated [Member] | Commercial Real Estate and Multi-family Residential Loans [Member] | Construction and Land Development Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total ending loans balance | 0 | 0 |
Not Rated [Member] | Commercial Real Estate and Multi-family Residential Loans [Member] | Owner Occupied Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total ending loans balance | 0 | 0 |
Not Rated [Member] | Commercial Real Estate and Multi-family Residential Loans [Member] | Nonowner Occupied Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total ending loans balance | 0 | 0 |
Not Rated [Member] | Commercial Real Estate and Multi-family Residential Loans [Member] | Multifamily Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total ending loans balance | 0 | 0 |
Not Rated [Member] | Agri-business and Agricultural Loans [Member] | Loans Secured By Farmland [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total ending loans balance | 0 | 0 |
Not Rated [Member] | Agri-business and Agricultural Loans [Member] | Loans For Agricultural Production [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total ending loans balance | 0 | 0 |
Not Rated [Member] | Agri-business and Agricultural Loans [Member] | Other Commercial Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total ending loans balance | 4 | 4 |
Not Rated [Member] | Consumer 1-4 Family Mortgage Loans [Member] | Closed End First Mortgage Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total ending loans balance | 129,822 | 128,561 |
Not Rated [Member] | Consumer 1-4 Family Mortgage Loans [Member] | Open End And Junior Lien Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total ending loans balance | 175,691 | 179,608 |
Not Rated [Member] | Consumer 1-4 Family Mortgage Loans [Member] | Residential Construction and Land Development Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total ending loans balance | 13,106 | 16,194 |
Not Rated [Member] | Consumer 1-4 Family Mortgage Loans [Member] | Other Consumer Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total ending loans balance | $ 71,500 | $ 73,078 |
ALLOWANCE FOR LOAN LOSSES AN_10
ALLOWANCE FOR LOAN LOSSES AND CREDIT QUALITY (Additional Information) (Details) - USD ($) | 3 Months Ended | ||
Mar. 31, 2019 | Mar. 31, 2018 | Dec. 31, 2018 | |
Troubled Debt Restructuring [Abstract] | |||
Loans Modified In Troubled Debt Restructured Loans | $ 2,900,000 | $ 3,700,000 | |
Loan amount of credit quality analysis | 250,000 | ||
Commercial and Industrial Loans [Member] | |||
Troubled Debt Restructuring [Abstract] | |||
Financing Receivable, Modifications, Recorded Investment | 341,000,000,000 | ||
Commercial and Industrial Loans [Member] | Non-working Capital Loans [Member] | |||
Troubled Debt Restructuring [Abstract] | |||
Financing Receivable, Modifications, Recorded Investment | 551,000,000,000 | ||
Commercial Real Estate and Multi-Family Residential Loans [Member] | |||
Troubled Debt Restructuring [Abstract] | |||
Increase (decrease) in allowance for loan loss | $ 227,000 | ||
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 1,600,000 | ||
commercial real estate building [Member] | |||
Troubled Debt Restructuring [Abstract] | |||
Financing Receivable, Modifications, Recorded Investment | 533,000 | ||
commercial and industrial nonworking capital [Member] | |||
Troubled Debt Restructuring [Abstract] | |||
Financing Receivable, Modifications, Recorded Investment | $ 70,000 |
FAIR VALUE DISCLOSURES (Assets
FAIR VALUE DISCLOSURES (Assets and Liabilities Measured At Fair Value on a Recurring Basis) (Details) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
Assets | ||
Total Securities | $ 595,553 | $ 585,549 |
Mortgage banking derivative | 3,651 | 3,109 |
Liabilities | ||
Mortgage banking derivative | 658 | 3,465 |
Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
U.S. Treasury securities | 994 | 987 |
U.S. government sponsored agency securities | 3,989 | 4,350 |
Mortgage-backed securities: residential | 320,279 | 325,412 |
Mortgage-backed securities: commercial | 38,029 | 38,141 |
State and municipal securities | 232,262 | 216,659 |
Total Securities | 595,553 | 585,549 |
Mortgage banking derivative | 209 | 95 |
Interest rate swap derivative | 4,061 | 3,869 |
Total assets | 599,823 | 589,513 |
Liabilities | ||
Mortgage banking derivative | 52 | 23 |
Interest rate swap derivative | 4,388 | 4,025 |
Total liabilities | 4,440 | 4,048 |
Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
U.S. Treasury securities | 994 | 987 |
U.S. government sponsored agency securities | 0 | 0 |
Mortgage-backed securities: residential | 0 | 0 |
Mortgage-backed securities: commercial | 0 | 0 |
State and municipal securities | 0 | 0 |
Total Securities | 994 | 987 |
Mortgage banking derivative | 0 | 0 |
Interest rate swap derivative | 0 | 0 |
Total assets | 994 | 987 |
Liabilities | ||
Mortgage banking derivative | 0 | 0 |
Interest rate swap derivative | 0 | 0 |
Total liabilities | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
U.S. Treasury securities | 0 | 0 |
U.S. government sponsored agency securities | 3,989 | 4,350 |
Mortgage-backed securities: residential | 320,279 | 325,412 |
Mortgage-backed securities: commercial | 38,029 | 38,141 |
State and municipal securities | 232,112 | 216,509 |
Total Securities | 594,409 | 584,412 |
Mortgage banking derivative | 209 | 95 |
Interest rate swap derivative | 4,061 | 3,869 |
Total assets | 598,679 | 588,376 |
Liabilities | ||
Mortgage banking derivative | 52 | 23 |
Interest rate swap derivative | 4,388 | 4,025 |
Total liabilities | 4,440 | 4,048 |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
U.S. Treasury securities | 0 | 0 |
U.S. government sponsored agency securities | 0 | 0 |
Mortgage-backed securities: residential | 0 | 0 |
Mortgage-backed securities: commercial | 0 | 0 |
State and municipal securities | 150 | 150 |
Total Securities | 150 | 150 |
Mortgage banking derivative | 0 | 0 |
Interest rate swap derivative | 0 | 0 |
Total assets | 150 | 150 |
Liabilities | ||
Mortgage banking derivative | 0 | 0 |
Interest rate swap derivative | 0 | 0 |
Total liabilities | $ 0 | $ 0 |
FAIR VALUE DISCLOSURES (Reconci
FAIR VALUE DISCLOSURES (Reconciliation of All Assets Measured at Fair Value on a Recurring Basis using Significant Unobservable Inputs (Level 3)) (Details) - State and Municipal Securities [Member] - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||
Balance of recurring Level 3 assets at January 1 | $ 150 | $ 880 |
Changes in fair value of securities included in other comprehensive income | 0 | (4) |
Principal payments | 0 | (45) |
Balance of recurring Level 3 assets at December 31 | $ 150 | $ 831 |
FAIR VALUE DISCLOSURES (Quantit
FAIR VALUE DISCLOSURES (Quantitative Information about Level 3 Fair Value Measurements) (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended |
Mar. 31, 2019 | Dec. 31, 2018 | |
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Valuation Technique | Collateral based measurements | |
Fair Value, Inputs, Level 3 [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Range of Inputs (Average) (in hundredths) | 0.17% | |
State and Municipal Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Total assets | $ 150 | $ 150 |
Valuation Technique | Price to type, par, call | Price to type, par, call |
State and Municipal Securities [Member] | Fair Value, Inputs, Level 3 [Member] | Discount To Benchmark Index [Member] | Minimum [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Range of Inputs (Average) (in hundredths) | 0.00% | 0.00% |
State and Municipal Securities [Member] | Fair Value, Inputs, Level 3 [Member] | Discount To Benchmark Index [Member] | Maximum [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Range of Inputs (Average) (in hundredths) | 1.00% | 1.00% |
FAIR VALUE DISCLOSURES (Asset_2
FAIR VALUE DISCLOSURES (Assets Measured at Fair Value on a Nonrecurring Basis) (Details) - Fair Value, Measurements, Nonrecurring [Member] - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
Assets Measured At Fair Value On Nonrecurring Basis [Line Items] | ||
Impaired loans | $ 9,764 | $ 11,506 |
Other real estate owned | 0 | 316 |
Total assets | 9,764 | 11,822 |
Fair Value, Inputs, Level 1 [Member] | ||
Assets Measured At Fair Value On Nonrecurring Basis [Line Items] | ||
Impaired loans | 0 | 0 |
Other real estate owned | 0 | 0 |
Total assets | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | ||
Assets Measured At Fair Value On Nonrecurring Basis [Line Items] | ||
Impaired loans | 0 | 0 |
Other real estate owned | 0 | 0 |
Total assets | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | ||
Assets Measured At Fair Value On Nonrecurring Basis [Line Items] | ||
Impaired loans | 9,764 | 11,506 |
Other real estate owned | 0 | 316 |
Total assets | 9,764 | 11,822 |
Commercial and Industrial Loans [Member] | ||
Assets Measured At Fair Value On Nonrecurring Basis [Line Items] | ||
Impaired loans | 8,480 | 9,059 |
Commercial and Industrial Loans [Member] | Working Capital Lines of Credit Loans [Member] | ||
Assets Measured At Fair Value On Nonrecurring Basis [Line Items] | ||
Impaired loans | 3,693 | 4,092 |
Commercial and Industrial Loans [Member] | Working Capital Lines of Credit Loans [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Assets Measured At Fair Value On Nonrecurring Basis [Line Items] | ||
Impaired loans | 0 | 0 |
Commercial and Industrial Loans [Member] | Working Capital Lines of Credit Loans [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Assets Measured At Fair Value On Nonrecurring Basis [Line Items] | ||
Impaired loans | 0 | 0 |
Commercial and Industrial Loans [Member] | Working Capital Lines of Credit Loans [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Assets Measured At Fair Value On Nonrecurring Basis [Line Items] | ||
Impaired loans | 3,693 | 4,092 |
Commercial and Industrial Loans [Member] | Non Working Capital Loans [Member] | ||
Assets Measured At Fair Value On Nonrecurring Basis [Line Items] | ||
Impaired loans | 4,787 | 4,967 |
Commercial and Industrial Loans [Member] | Non Working Capital Loans [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Assets Measured At Fair Value On Nonrecurring Basis [Line Items] | ||
Impaired loans | 0 | 0 |
Commercial and Industrial Loans [Member] | Non Working Capital Loans [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Assets Measured At Fair Value On Nonrecurring Basis [Line Items] | ||
Impaired loans | 0 | 0 |
Commercial and Industrial Loans [Member] | Non Working Capital Loans [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Assets Measured At Fair Value On Nonrecurring Basis [Line Items] | ||
Impaired loans | 4,787 | 4,967 |
Commercial Real Estate and Multi-Family Residential Loans [Member] | ||
Assets Measured At Fair Value On Nonrecurring Basis [Line Items] | ||
Impaired loans | 732 | 1,817 |
Commercial Real Estate and Multi-Family Residential Loans [Member] | Construction and Land Development Loans [Member] | ||
Assets Measured At Fair Value On Nonrecurring Basis [Line Items] | ||
Impaired loans | 148 | |
Commercial Real Estate and Multi-Family Residential Loans [Member] | Construction and Land Development Loans [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Assets Measured At Fair Value On Nonrecurring Basis [Line Items] | ||
Impaired loans | 0 | |
Commercial Real Estate and Multi-Family Residential Loans [Member] | Construction and Land Development Loans [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Assets Measured At Fair Value On Nonrecurring Basis [Line Items] | ||
Impaired loans | 0 | |
Commercial Real Estate and Multi-Family Residential Loans [Member] | Construction and Land Development Loans [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Assets Measured At Fair Value On Nonrecurring Basis [Line Items] | ||
Impaired loans | 148 | |
Commercial Real Estate and Multi-Family Residential Loans [Member] | Owner Occupied Loans [Member] | ||
Assets Measured At Fair Value On Nonrecurring Basis [Line Items] | ||
Impaired loans | 732 | 1,669 |
Commercial Real Estate and Multi-Family Residential Loans [Member] | Owner Occupied Loans [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Assets Measured At Fair Value On Nonrecurring Basis [Line Items] | ||
Impaired loans | 0 | 0 |
Commercial Real Estate and Multi-Family Residential Loans [Member] | Owner Occupied Loans [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Assets Measured At Fair Value On Nonrecurring Basis [Line Items] | ||
Impaired loans | 0 | 0 |
Commercial Real Estate and Multi-Family Residential Loans [Member] | Owner Occupied Loans [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Assets Measured At Fair Value On Nonrecurring Basis [Line Items] | ||
Impaired loans | 732 | 1,669 |
Consumer 1-4 Family Mortgage Loans [Member] | ||
Assets Measured At Fair Value On Nonrecurring Basis [Line Items] | ||
Impaired loans | 486 | 553 |
Consumer 1-4 Family Mortgage Loans [Member] | Closed End First Mortgage Loans [Member] | ||
Assets Measured At Fair Value On Nonrecurring Basis [Line Items] | ||
Impaired loans | 486 | 553 |
Consumer 1-4 Family Mortgage Loans [Member] | Closed End First Mortgage Loans [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Assets Measured At Fair Value On Nonrecurring Basis [Line Items] | ||
Impaired loans | 0 | 0 |
Consumer 1-4 Family Mortgage Loans [Member] | Closed End First Mortgage Loans [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Assets Measured At Fair Value On Nonrecurring Basis [Line Items] | ||
Impaired loans | 0 | 0 |
Consumer 1-4 Family Mortgage Loans [Member] | Closed End First Mortgage Loans [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Assets Measured At Fair Value On Nonrecurring Basis [Line Items] | ||
Impaired loans | 486 | 553 |
Agribusiness and Agricultural [Member] | ||
Assets Measured At Fair Value On Nonrecurring Basis [Line Items] | ||
Impaired loans | 66 | 77 |
Agribusiness and Agricultural [Member] | Loans Secured By Farmland [Member] | ||
Assets Measured At Fair Value On Nonrecurring Basis [Line Items] | ||
Impaired loans | 66 | 77 |
Agribusiness and Agricultural [Member] | Loans Secured By Farmland [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Assets Measured At Fair Value On Nonrecurring Basis [Line Items] | ||
Impaired loans | 0 | 0 |
Agribusiness and Agricultural [Member] | Loans Secured By Farmland [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Assets Measured At Fair Value On Nonrecurring Basis [Line Items] | ||
Impaired loans | 0 | 0 |
Agribusiness and Agricultural [Member] | Loans Secured By Farmland [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Assets Measured At Fair Value On Nonrecurring Basis [Line Items] | ||
Impaired loans | $ 66 | $ 77 |
FAIR VALUE DISCLOSURES (Valuati
FAIR VALUE DISCLOSURES (Valuation Methodology and Unobservable Inputs for Level 3 Assets) (Details) $ in Thousands | 3 Months Ended | 12 Months Ended |
Mar. 31, 2019USD ($) | Dec. 31, 2018USD ($) | |
Valuation Methodology and Unobservable Inputs For Level 3 Assets Measured At Fair Value [Line Items] | ||
Valuation Methodology | Collateral based measurements | |
Non-Recurring [Member] | ||
Valuation Methodology and Unobservable Inputs For Level 3 Assets Measured At Fair Value [Line Items] | ||
Impaired loans | $ 9,764 | $ 11,506 |
Commercial and Industrial Loans [Member] | Non-Recurring [Member] | ||
Valuation Methodology and Unobservable Inputs For Level 3 Assets Measured At Fair Value [Line Items] | ||
Impaired loans | $ 8,480 | $ 9,059 |
Valuation Methodology | Collateral based measurements | Collateral based measurements |
Unobservable Inputs | Discount to reflect current market conditions and ultimate collectability | Discount to reflect current market conditions and ultimate collectability |
Commercial and Industrial Loans [Member] | Non-Recurring [Member] | Minimum [Member] | ||
Valuation Methodology and Unobservable Inputs For Level 3 Assets Measured At Fair Value [Line Items] | ||
Range of Inputs (Average) (in hundredths) | 0 | 4 |
Commercial and Industrial Loans [Member] | Non-Recurring [Member] | Maximum [Member] | ||
Valuation Methodology and Unobservable Inputs For Level 3 Assets Measured At Fair Value [Line Items] | ||
Range of Inputs (Average) (in hundredths) | 100 | 100 |
Commercial and Industrial Loans [Member] | Non-Recurring [Member] | Weighted Average [Member] | ||
Valuation Methodology and Unobservable Inputs For Level 3 Assets Measured At Fair Value [Line Items] | ||
Range of Inputs (Average) (in hundredths) | 51 | 48 |
Commercial real estate [Member] | Non-Recurring [Member] | ||
Valuation Methodology and Unobservable Inputs For Level 3 Assets Measured At Fair Value [Line Items] | ||
Impaired loans | $ 732 | $ 1,817 |
Valuation Methodology | Collateral based measurements | Collateral based measurements |
Unobservable Inputs | Discount to reflect current market conditions and ultimate collectability | Discount to reflect current market conditions and ultimate collectability |
Commercial real estate [Member] | Non-Recurring [Member] | Minimum [Member] | ||
Valuation Methodology and Unobservable Inputs For Level 3 Assets Measured At Fair Value [Line Items] | ||
Range of Inputs (Average) (in hundredths) | 0 | 6 |
Commercial real estate [Member] | Non-Recurring [Member] | Maximum [Member] | ||
Valuation Methodology and Unobservable Inputs For Level 3 Assets Measured At Fair Value [Line Items] | ||
Range of Inputs (Average) (in hundredths) | 53 | 53 |
Commercial real estate [Member] | Non-Recurring [Member] | Weighted Average [Member] | ||
Valuation Methodology and Unobservable Inputs For Level 3 Assets Measured At Fair Value [Line Items] | ||
Range of Inputs (Average) (in hundredths) | 35 | 34 |
Agribusiness and Agricultural [Member] | Non-Recurring [Member] | ||
Valuation Methodology and Unobservable Inputs For Level 3 Assets Measured At Fair Value [Line Items] | ||
Impaired loans | $ 66 | $ 77 |
Valuation Methodology | Collateral based measurements | Collateral based measurements |
Unobservable Inputs | Discount to reflect current market conditions and ultimate collectability | Discount to reflect current market conditions and ultimate collectability |
Agribusiness and Agricultural [Member] | Non-Recurring [Member] | Weighted Average [Member] | ||
Valuation Methodology and Unobservable Inputs For Level 3 Assets Measured At Fair Value [Line Items] | ||
Range of Inputs (Average) (in hundredths) | 55 | 49 |
Consumer 1-4 Family Mortgage Loans [Member] | Non-Recurring [Member] | ||
Valuation Methodology and Unobservable Inputs For Level 3 Assets Measured At Fair Value [Line Items] | ||
Impaired loans | $ 486 | $ 553 |
Valuation Methodology | Collateral based measurements | Collateral based measurements |
Unobservable Inputs | Discount to reflect current market conditions and ultimate collectability | Discount to reflect current market conditions and ultimate collectability |
Consumer 1-4 Family Mortgage Loans [Member] | Non-Recurring [Member] | Minimum [Member] | ||
Valuation Methodology and Unobservable Inputs For Level 3 Assets Measured At Fair Value [Line Items] | ||
Range of Inputs (Average) (in hundredths) | 0 | 0 |
Consumer 1-4 Family Mortgage Loans [Member] | Non-Recurring [Member] | Maximum [Member] | ||
Valuation Methodology and Unobservable Inputs For Level 3 Assets Measured At Fair Value [Line Items] | ||
Range of Inputs (Average) (in hundredths) | 21 | 64 |
Consumer 1-4 Family Mortgage Loans [Member] | Non-Recurring [Member] | Weighted Average [Member] | ||
Valuation Methodology and Unobservable Inputs For Level 3 Assets Measured At Fair Value [Line Items] | ||
Range of Inputs (Average) (in hundredths) | 17 | 23 |
Other Real Estate Owned [Member] | Non-Recurring [Member] | ||
Valuation Methodology and Unobservable Inputs For Level 3 Assets Measured At Fair Value [Line Items] | ||
Impaired loans | $ 316 | |
Valuation Methodology | Collateral based measurements | |
Unobservable Inputs | Discount to reflect current market conditions and ultimate collectability | Discount to reflect current market conditions and ultimate collectability |
Other Real Estate Owned [Member] | Non-Recurring [Member] | Weighted Average [Member] | ||
Valuation Methodology and Unobservable Inputs For Level 3 Assets Measured At Fair Value [Line Items] | ||
Range of Inputs (Average) (in hundredths) | 0 |
FAIR VALUE DISCLOSURES (Estimat
FAIR VALUE DISCLOSURES (Estimated Fair Values And The Related Carrying Values Of Financial Instruments) (Details) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
Financial Assets: | ||
Securities available for sale | $ 595,553 | $ 585,549 |
Carrying Value [Member] | ||
Financial Assets: | ||
Cash and cash equivalents | 188,753 | 216,922 |
Securities available for sale | 595,553 | 585,549 |
Real estate mortgages held for sale | 3,047 | 2,293 |
Loans, net | 3,889,448 | 3,866,292 |
Federal Reserve and Federal Home Loan Bank stock | 13,772 | 13,772 |
Accrued interest receivable | 17,387 | 15,518 |
Financial Liabilities: | ||
Certificates of deposit | (1,406,580) | (1,419,754) |
All other deposits | (2,740,857) | (2,624,311) |
Securities sold under agreements | (75,555) | |
Other short-term borrowings | (122,000) | (170,000) |
Subordinated debentures | (30,928) | (30,928) |
Standby letters of credit | (1,151) | (978) |
Accrued interest payable | (11,794) | (10,404) |
Estimate of Fair Value Measurement [Member] | ||
Financial Assets: | ||
Cash and cash equivalents | 188,753 | 216,922 |
Securities available for sale | 595,553 | 585,549 |
Real estate mortgages held for sale | 3,085 | 2,314 |
Loans, net | 3,816,004 | 3,786,175 |
Accrued interest receivable | 17,387 | 15,518 |
Financial Liabilities: | ||
Certificates of deposit | (1,413,329) | (1,424,553) |
All other deposits | (2,740,857) | (2,624,311) |
Securities sold under agreements | (75,555) | |
Other short-term borrowings | (122,000) | (169,996) |
Subordinated debentures | (31,199) | (31,195) |
Standby letters of credit | (1,151) | (978) |
Accrued interest payable | (11,794) | (10,404) |
Fair Value, Inputs, Level 1 [Member] | Estimate of Fair Value Measurement [Member] | ||
Financial Assets: | ||
Cash and cash equivalents | 185,998 | 214,452 |
Securities available for sale | 994 | 987 |
Real estate mortgages held for sale | 0 | 0 |
Loans, net | 0 | 0 |
Accrued interest receivable | 8 | 3 |
Financial Liabilities: | ||
Certificates of deposit | 0 | 0 |
All other deposits | (2,740,857) | (2,624,311) |
Securities sold under agreements | 0 | |
Other short-term borrowings | (122,000) | 0 |
Subordinated debentures | 0 | 0 |
Standby letters of credit | 0 | 0 |
Accrued interest payable | (168) | (110) |
Fair Value, Inputs, Level 2 [Member] | Estimate of Fair Value Measurement [Member] | ||
Financial Assets: | ||
Cash and cash equivalents | 2,755 | 2,470 |
Securities available for sale | 594,409 | 584,412 |
Real estate mortgages held for sale | 3,085 | 2,314 |
Loans, net | 0 | 0 |
Accrued interest receivable | 3,110 | 3,569 |
Financial Liabilities: | ||
Certificates of deposit | (1,413,329) | (1,424,553) |
All other deposits | 0 | 0 |
Securities sold under agreements | (75,555) | |
Other short-term borrowings | 0 | (169,996) |
Subordinated debentures | 0 | 0 |
Standby letters of credit | 0 | 0 |
Accrued interest payable | (11,621) | (10,289) |
Fair Value, Inputs, Level 3 [Member] | Estimate of Fair Value Measurement [Member] | ||
Financial Assets: | ||
Cash and cash equivalents | 0 | 0 |
Securities available for sale | 150 | 150 |
Real estate mortgages held for sale | 0 | 0 |
Loans, net | 3,816,004 | 3,786,175 |
Accrued interest receivable | 14,269 | 11,946 |
Financial Liabilities: | ||
Certificates of deposit | 0 | 0 |
All other deposits | 0 | 0 |
Securities sold under agreements | 0 | |
Other short-term borrowings | 0 | 0 |
Subordinated debentures | (31,199) | (31,195) |
Standby letters of credit | (1,151) | (978) |
Accrued interest payable | $ (5) | $ (5) |
FAIR VALUE DISCLOSURES (Additio
FAIR VALUE DISCLOSURES (Additional Information) (Details) - USD ($) | 3 Months Ended | |||
Mar. 31, 2019 | Mar. 31, 2018 | Dec. 31, 2018 | Dec. 31, 2017 | |
Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. | ||||
Mortgage servicing rights | $ 4,500,000 | |||
Weighted average interest rate, residential mortgages (in hundredths) | 3.93% | |||
Weighted average maturity of residential mortgages | 20 years | |||
Prepayment Speed used in unobservable assumptions | 77 | 81 | ||
Discount rate used to estimate fair value (in hundredths) | 9.40% | 9.40% | ||
Subtotal | $ 3,940,652,000 | $ 3,916,326,000 | ||
Valuation allowance | 49,562,000 | $ 45,627,000 | $ 48,453,000 | $ 47,121,000 |
Provision for Loan and Lease Losses | $ 1,200,000 | 3,300,000 | ||
Charge Off | 4,200,000 | |||
Commercial Real Estates [Member] | Minimum [Member] | Fair Value, Inputs, Level 3 [Member] | ||||
Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. | ||||
Percentage of discount from appraised value (in hundredths) | 0.00% | |||
Commercial Real Estates [Member] | Maximum [Member] | Fair Value, Inputs, Level 3 [Member] | ||||
Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. | ||||
Percentage of discount from appraised value (in hundredths) | 50.00% | |||
Inventory Finished Goods [Member] | Minimum [Member] | Fair Value, Inputs, Level 3 [Member] | ||||
Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. | ||||
Percentage of discount from appraised value (in hundredths) | 35.00% | |||
Inventory Finished Goods [Member] | Maximum [Member] | Fair Value, Inputs, Level 3 [Member] | ||||
Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. | ||||
Percentage of discount from appraised value (in hundredths) | 65.00% | |||
Finished Goods [Member] | Minimum [Member] | Fair Value, Inputs, Level 3 [Member] | ||||
Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. | ||||
Percentage of discount from appraised value (in hundredths) | 30.00% | |||
Finished Goods [Member] | Maximum [Member] | Fair Value, Inputs, Level 3 [Member] | ||||
Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. | ||||
Percentage of discount from appraised value (in hundredths) | 60.00% | |||
Inventory Work In Process [Member] | Minimum [Member] | Fair Value, Inputs, Level 3 [Member] | ||||
Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. | ||||
Percentage of discount from appraised value (in hundredths) | 50.00% | |||
Inventory Work In Process [Member] | Maximum [Member] | Fair Value, Inputs, Level 3 [Member] | ||||
Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. | ||||
Percentage of discount from appraised value (in hundredths) | 100.00% | |||
Equipment [Member] | Minimum [Member] | Fair Value, Inputs, Level 3 [Member] | ||||
Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. | ||||
Percentage of discount from appraised value (in hundredths) | 30.00% | |||
Equipment [Member] | Maximum [Member] | Fair Value, Inputs, Level 3 [Member] | ||||
Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. | ||||
Percentage of discount from appraised value (in hundredths) | 70.00% | |||
Marketable Securities [Member] | Minimum [Member] | Fair Value, Inputs, Level 3 [Member] | ||||
Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. | ||||
Percentage of discount from appraised value (in hundredths) | 10.00% | |||
Marketable Securities [Member] | Maximum [Member] | Fair Value, Inputs, Level 3 [Member] | ||||
Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. | ||||
Percentage of discount from appraised value (in hundredths) | 30.00% | |||
Impaired Loans [Member] | ||||
Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. | ||||
Subtotal | $ 19,100,000 | 7,900,000 | ||
Valuation allowance | 9,300,000 | $ 1,900,000 | ||
Provision for Loan and Lease Losses | $ 200,000 |
SECURITIES SOLD UNDER AGREEME_2
SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE (Additional Information) (Details) - USD ($) $ in Millions | Mar. 31, 2019 | Dec. 31, 2018 |
Securities Sold under Agreements to Repurchase, Fair Value of Collateral | $ 75.6 | |
Collateralized Mortgage Backed Securities [Member] | ||
Securities Sold under Agreements to Repurchase, Fair Value of Collateral | $ 100.7 |
EMPLOYEE BENEFIT PLANS (Compone
EMPLOYEE BENEFIT PLANS (Components of periodic benefit cost) (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Pension Benefits | ||
Pension and Other Postretirement Benefits Cost (Reversal of Cost) [Abstract] | ||
Service cost | $ 0 | $ 0 |
Interest cost | 22 | 23 |
Expected return on plan assets | (34) | (34) |
Recognized net actuarial (gain) loss | 32 | 48 |
Net pension expense (benefit) | 20 | 37 |
SERP Benefits | ||
Pension and Other Postretirement Benefits Cost (Reversal of Cost) [Abstract] | ||
Service cost | 0 | 0 |
Interest cost | 9 | 9 |
Expected return on plan assets | (13) | (15) |
Recognized net actuarial (gain) loss | 18 | 18 |
Net pension expense (benefit) | $ 14 | $ 12 |
EMPLOYEE BENEFIT PLANS (Additio
EMPLOYEE BENEFIT PLANS (Additional Information) (Details) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
Supplemental Employee Retirement Plan [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Defined Benefit Plan, Expected Future Employer Contributions, Next Fiscal Year | $ 0 | $ 0 |
OFFSETTING ASSETS AND LIABILI_3
OFFSETTING ASSETS AND LIABILITIES (Schedule of Offsetting of Assets and Liabilities) (Details) - USD ($) | Mar. 31, 2019 | Dec. 31, 2018 |
Assets | ||
Gross Amounts of Recognized Assets | $ 4,061,000 | $ 3,869,000 |
Gross Amounts Offset in the Statement of Financial Position | 0 | 0 |
Net Amounts of Assets presented in the Statement of Financial Position | 4,061,000 | 3,869,000 |
Gross Amounts Not Offset in the Statement of Financial Position, Financial Instruments | 0 | 0 |
Gross Amounts Not Offset in the Statement of Financial Position, Cash Collateral Received | (410,000) | (760,000) |
Net Amount | 3,651,000 | 3,109,000 |
Liabilities | ||
Gross Amounts of Recognized Liabilities | 4,388,000 | 79,580,000 |
Gross Amounts Offset in the Statement of Financial Position | 0 | 0 |
Net Amounts of Liabilities presented in the Statement of Financial Position | 4,388,000 | 79,580,000 |
Gross Amounts Not Offset in the Statement of Financial Position, Financial Instruments | 0 | (75,555,000) |
Gross Amounts Not Offset in the Statement of Financial Position, Cash Collateral Received | (3,730,000) | (560,000) |
Net Amount | 658,000 | 3,465,000 |
Interest Rate Swap [Member] | ||
Assets | ||
Gross Amounts of Recognized Assets | 4,061,000 | 3,869,000 |
Gross Amounts Offset in the Statement of Financial Position | 0 | 0 |
Net Amounts of Assets presented in the Statement of Financial Position | 4,061,000 | 3,869,000 |
Gross Amounts Not Offset in the Statement of Financial Position, Financial Instruments | 0 | 0 |
Gross Amounts Not Offset in the Statement of Financial Position, Cash Collateral Received | (410,000) | (760,000) |
Net Amount | 3,651,000 | 3,109,000 |
Liabilities | ||
Gross Amounts of Recognized Liabilities | 4,388,000 | 4,025,000 |
Gross Amounts Offset in the Statement of Financial Position | 0 | 0 |
Net Amounts of Liabilities presented in the Statement of Financial Position | 4,388,000 | 4,025,000 |
Gross Amounts Not Offset in the Statement of Financial Position, Financial Instruments | 0 | 0 |
Gross Amounts Not Offset in the Statement of Financial Position, Cash Collateral Received | (3,730,000) | (560,000) |
Net Amount | 658,000 | 3,465,000 |
Repurchase Agreements [Member] | ||
Liabilities | ||
Gross Amounts of Recognized Liabilities | 0 | 75,555,000 |
Gross Amounts Offset in the Statement of Financial Position | 0 | 0 |
Net Amounts of Liabilities presented in the Statement of Financial Position | 0 | 75,555,000 |
Gross Amounts Not Offset in the Statement of Financial Position, Financial Instruments | 0 | 75,555,000 |
Gross Amounts Not Offset in the Statement of Financial Position, Cash Collateral Received | 0 | 0 |
Net Amount | $ 0 | $ 0 |
EARNINGS PER SHARE (Earnings Pe
EARNINGS PER SHARE (Earnings Per Share Computations) (Details) - $ / shares | 3 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Weighted average shares outstanding for basic earnings per common share | 25,491,093 | 25,257,414 |
Dilutive effect of stock options, awards and warrants | 174,194 | 439,450 |
Weighted average shares outstanding for diluted earnings per common share | 25,665,287 | 25,696,864 |
Basic earnings per common share | $ 0.85 | $ 0.73 |
Diluted earnings per common share | $ 0.84 | $ 0.71 |
ACCUMULATED OTHER COMPREHENSI_3
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Changes in Accumulated Other Comprehensive Income By Component) (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | ||
Unrealized Gains and Losses on Available- for-Sales Securities, Opening Balance | $ (4,796) | $ 784 |
Unrealized Gains and Losses on Available- for-Sales Securities, Other comprehensive income before reclassification | 8,663 | (7,132) |
Unrealized Gains and Losses on Available- for-Sales Securities, Amounts reclassified from accumulated other comprehensive income (loss) | (23) | 6 |
Unrealized Gains and Losses on Available- for-Sales Securities, Net current period other comprehensive income | 8,640 | (7,126) |
Unrealized Gains and Losses on Available- for-Sales Securities, Ending Balance | 3,844 | (6,270) |
Defined Benefit Pension Items, Opening Balance | (1,395) | (1,454) |
Defined Benefit Pension Items, Other comprehensive income before reclassification | 0 | 0 |
Defined Benefit Pension Items, Amounts reclassified from accumulated other comprehensive income (loss) | 38 | 49 |
Net of tax amount | 38 | 49 |
Defined Benefit Pension Items, Ending Balance | (1,357) | (1,718) |
Total, Opening Balance | (6,191) | (670) |
Total, Other comprehensive income (loss) before reclassification | 8,663 | (7,132) |
Total, Amounts reclassified from accumulated other comprehensive income (loss) | 15 | 55 |
Total other comprehensive income, net of tax | 8,678 | (7,077) |
Total, Ending Balance | $ 2,487 | (7,988) |
Accounting Standards Update 2018-02 [Member] | ||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | ||
Other Comprehensive Income (Loss), Available-for-sale Securities Adjustment, Net of Tax | 140 | |
Other Comprehensive (Income) Loss, Defined Benefit Plan, after Reclassification Adjustment, after Tax | (313) | |
Other Comprehensive Income Loss, Adjustment, Net of Tax | (173) | |
Accounting Standards Update 2016-01 [Member] | ||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | ||
Other Comprehensive Income (Loss), Available-for-sale Securities Adjustment, Net of Tax | (68) | |
Other Comprehensive (Income) Loss, Defined Benefit Plan, after Reclassification Adjustment, after Tax | 0 | |
Other Comprehensive Income Loss, Adjustment, Net of Tax | $ (68) |
ACCUMULATED OTHER COMPREHENSI_4
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Reclassification Adjustment) (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Unrealized gains and losses on available-for-sale securities | ||
Net securities gains (losses) | $ 23 | $ (6) |
Income tax expense | 0 | 0 |
Net of tax | 23 | (6) |
Amortization of defined benefit pension items | ||
Other expense | (50) | (66) |
Income tax expense | 12 | 17 |
Net of tax | (38) | (49) |
Total reclassifications for the period | $ (15) | $ (55) |
LEASES (Details)
LEASES (Details) $ in Thousands | 3 Months Ended |
Mar. 31, 2019USD ($) | |
2019 | $ 402 |
2020 | 561 |
2021 | 581 |
2022 | 595 |
2023 | 606 |
2024 - 2029 | 3,495 |
Total undiscounted lease payments | 6,240 |
Less imputed interest | (847) |
Lease liability | 5,393 |
Right-of-use asset | 5,393 |
Lease cost | |
Operating lease cost | 119 |
Short-term lease cost | 6 |
Total lease cost | 125 |
operating leases | $ 119 |
lease term - operating leases | 10 years 9 months 18 days |
rate - operating leases | 2.80% |