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SBCF Seacoast Banking Corp. Of Florida

Cover Page

Cover Page6 Months Ended
Jun. 30, 2020shares
Cover [Abstract]
Document Type10-Q
Document Quarterly Reporttrue
Document Period End DateJun. 30,
2020
Document Transition Reportfalse
Entity File Number0-13660
Entity Registrant NameSeacoast Banking Corporation of Florida
Entity Incorporation, State or Country CodeFL
Entity Tax Identification Number59-2260678
Entity Address, Address Line One815 COLORADO AVENUE,
Entity Address, City or TownSTUART
Entity Address, State or ProvinceFL
Entity Address, Postal Zip Code34994
City Area Code(772)
Local Phone Number287-4000
Title of 12(b) SecurityCommon Stock
Trading SymbolSBCF
Security Exchange NameNASDAQ
Entity Current Reporting StatusYes
Entity Interactive Data CurrentYes
Entity Filer CategoryLarge Accelerated Filer
Entity Small Businessfalse
Entity Emerging Growth Companyfalse
Entity Shell Companyfalse
Entity Common Stock, Shares Outstanding52,990,655
Amendment Flagfalse
Document Fiscal Year Focus2020
Document Fiscal Period FocusQ2
Entity Central Index Key0000730708
Current Fiscal Year End Date--12-31

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF INCOME (Unaudited) - USD ($) shares in Thousands, $ in Thousands3 Months Ended6 Months Ended
Jun. 30, 2020Jun. 30, 2019Jun. 30, 2020Jun. 30, 2019
Income Statement [Abstract]
Interest and fees on loans $ 64,844 $ 62,288 $ 128,284 $ 124,575
Interest and dividends on securities7,694 9,076 16,512 18,346
Interest on interest bearing deposits and other investments684 873 1,418 1,791
Total Interest Income73,222 72,237 146,214 144,712
Interest on deposits1,203 4,825 4,393 8,698
Interest on time certificates3,820 5,724 8,588 10,683
Interest on borrowed money927 1,552 2,784 4,421
Total Interest Expense5,950 12,101 15,765 23,802
Net Interest Income67,272 60,136 130,449 120,910
Provision for credit losses7,611 2,551 37,124 3,948
Net Interest Income after Provision for Credit Losses59,661 57,585 93,325 116,962
Noninterest income
Other income13,776 14,043 28,445 26,888
Securities gains (losses), net1,230 (466)1,249 (475)
Total Noninterest Income (Note H)15,006 13,577 29,694 26,413
Total Noninterest Expenses (Note H)42,399 41,000 90,197 84,099
Income Before Income Taxes32,268 30,162 32,822 59,276
Provision for income taxes7,188 6,909 7,033 13,318
Net Income $ 25,080 $ 23,253 $ 25,789 $ 45,958
Share Data
Net income per share of common stock - diluted (in dollars per share) $ 0.47 $ 0.45 $ 0.49 $ 0.88
Net income per share of common stock - basic (in dollars per share) $ 0.47 $ 0.45 $ 0.49 $ 0.89
Average common shares outstanding - diluted (in shares)53,308 51,952 52,807 51,998
Average common shares outstanding - basic (in shares)52,985 51,446 52,394 51,403

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) - USD ($) $ in Thousands3 Months Ended6 Months Ended
Jun. 30, 2020Jun. 30, 2019Jun. 30, 2020Jun. 30, 2019
Statement of Comprehensive Income [Abstract]
Net Income $ 25,080 $ 23,253 $ 25,789 $ 45,958
Other comprehensive income:
Unrealized gains on securities available-for-sale17,581 11,633 17,684 24,309
Reclassification of unrealized losses on securities transferred to available-for-sale upon adoption of new accounting pronouncement0 0 0 (730)
Amortization of unrealized losses on securities transferred to held-to-maturity, net59 72 119 143
Reclassification adjustment for (gains) losses included in net income(1,188)556 (1,092)643
Provision for income taxes(3,917)(2,774)(3,882)(6,035)
Total other comprehensive income12,535 9,487 12,829 18,330
Comprehensive Income $ 37,615 $ 32,740 $ 38,618 $ 64,288

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in ThousandsJun. 30, 2020Dec. 31, 2019
Assets
Cash and due from banks $ 84,178 $ 89,843
Interest bearing deposits with other banks440,142 34,688
Total cash and cash equivalents524,320 124,531
Time deposits with other banks2,496 3,742
Debt securities:
Securities available-for-sale (at fair value)976,025 946,855
Securities held-to-maturity (fair value $235,946 at June 30, 2020 and $262,213 at December 31, 2019)227,092 261,369
Total debt securities1,203,117 1,208,224
Loans held for sale (at fair value)54,943 20,029
Loans5,772,052 5,198,404
Less: Allowance for credit losses(91,250)(35,154)
Loans, net of allowance for credit losses5,680,802 5,163,250
Bank premises and equipment, net69,041 66,615
Other real estate owned15,847 12,390
Goodwill212,146 205,286
Other intangible assets, net17,950 20,066
Bank owned life insurance127,954 126,181
Net deferred tax assets21,404 16,457
Other assets153,993 141,740
Total Assets8,084,013 7,108,511
Liabilities
Deposits6,666,783 5,584,753
Securities sold under agreements to repurchase, maturing within 30 days92,125 86,121
Federal Home Loan Bank (FHLB) borrowings135,000 315,000
Subordinated debt71,225 71,085
Other liabilities88,277 65,913
Total Liabilities7,053,410 6,122,872
Shareholders' Equity
Common stock, par value $0.10 per share, authorized 120,000,000 shares, issued 53,326,794 and outstanding 52,990,655 at June 30, 2020, and authorized 120,000,000, issued 51,760,617 and outstanding 51,513,733 shares at December 31, 20195,299 5,151
Other shareholders' equity1,025,304 980,488
Total Shareholders' Equity1,030,603 985,639
Total Liabilities and Shareholders' Equity $ 8,084,013 $ 7,108,511
Common stock, shares outstanding (in shares)52,990,655 51,513,733

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (Parenthetical) - USD ($) $ in ThousandsJun. 30, 2020Dec. 31, 2019
Statement of Financial Position [Abstract]
Held to maturity, fair value $ 235,946 $ 262,213
Common stock, par value (in dollars per share) $ 0.10 $ 0.10
Common stock, shares authorized (in shares)120,000,000 120,000,000
Common stock, shares issued (in shares)53,326,794 51,760,617
Common stock, shares outstanding (in shares)52,990,655 51,513,733

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands6 Months Ended
Jun. 30, 2020Jun. 30, 2019
Cash Flows from Operating Activities
Net income $ 25,789 $ 45,958
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation3,031 3,308
Amortization of premiums and discounts on securities, net1,746 1,223
Amortization of operating lease right-of-use assets2,363 2,041
Other amortization and accretion, net(366)(1,632)
Stock based compensation3,524 4,027
Origination of loans designated for sale(203,935)(139,219)
Sale of loans designated for sale174,450 138,961
Provision for credit losses37,124 3,948
Deferred income taxes(3,328)3,736
(Gains) losses on sale of securities(1,092)643
Gains on sale of loans(5,303)(3,980)
Gains on sale and write-downs of other real estate owned(485)(408)
Losses on disposition of fixed assets220 464
Changes in operating assets and liabilities, net of effects from acquired companies:
Net increase in other assets(22,451)(21)
Net increase (decrease) in other liabilities19,139 (9,623)
Net cash provided by operating activities30,426 49,426
Cash Flows from Investing Activities
Maturities and repayments of debt securities available-for-sale134,488 41,564
Maturities and repayments of debt securities held-to-maturity33,969 16,935
Proceeds from sale of debt securities available-for-sale92,314 73,297
Purchases of debt securities available-for-sale(239,160)(87,433)
Maturities of time deposits with other banks1,246 3,263
Net new loans and principal repayments(431,182)(12,017)
Purchases of loans held for investment0 (50,562)
Proceeds from sale of other real estate owned4,503 2,722
Proceeds from sale of FHLB and Federal Reserve Bank Stock33,448 29,070
Purchase of FHLB and Federal Reserve Bank Stock(26,227)(22,648)
Net cash from bank acquisition33,883 0
Proceeds from bank owned life insurance0 12,378
Additions to bank premises and equipment(880)(1,485)
Net cash (used in) provided by investing activities(363,598)5,084
Cash Flows from Financing Activities
Net increase in deposits908,288 363,969
Net increase (decrease) in federal funds purchased and repurchase agreements6,004 (132,308)
Net decrease in FHLB borrowings with original maturities of three months or less(315,000)(177,000)
Repayments of FHLB borrowings with original maturities of more than three months0 (63,000)
Proceeds from FHLB borrowings with original maturities of more than three months135,000 0
Stock based employee benefit plans(1,331)(2,343)
Dividends paid0 0
Net cash provided by (used in) financing activities732,961 (10,682)
Net increase in cash and cash equivalents399,789 43,828
Cash and cash equivalents at beginning of period124,531 115,951
Cash and cash equivalents at end of period524,320 159,779
Supplemental disclosure of cash flow information:
Cash paid during the period for interest15,756 23,200
Cash paid during the period for taxes3,492 6,000
New operating lease right-of-use assets52 29,077
New operating lease liabilities52 33,403
Supplemental disclosure of non cash investing activities:
Transfer of debt securities from held-to-maturity to available-for-sale0 52,796
Transfers from loans to other real estate owned6,186 555
Transfers from bank premises to other real estate owned $ 1,289 $ 0

CONSOLIDATED STATEMENTS OF SHAR

CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (Unaudited) - USD ($) shares in Thousands, $ in ThousandsTotalCommon StockPaid-in CapitalRetained EarningsTreasury StockAccumulated Other Comprehensive Income (Loss)Cumulative Effect AdjustmentCumulative Effect AdjustmentRetained Earnings
Beginning balance (in shares) at Dec. 31, 201851,361
Beginning balance at Dec. 31, 2018 $ 864,267 $ 5,136 $ 778,501 $ 97,074 $ (3,384) $ (13,060)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Comprehensive income64,288 45,958 18,330
Stock based compensation expense4,028 4,028
Common stock transactions related to stock based employee benefit plans (in shares)71
Common stock transactions related to stock based employee benefit plans(2,772) $ 7 (26)(2,753)
Common stock issued for stock options (in shares)29
Common stock issued for stock options428 $ 3 425
Increase (decrease) in shares during period (in shares)100
Increase (decrease) in stockholders' equity during period65,972 $ 10 4,427 45,958 (2,753)18,330
Ending balance (in shares) at Jun. 30, 201951,461
Ending balance at Jun. 30, 2019930,239 $ 5,146 782,928 143,032 (6,137)5,270
Beginning balance (in shares) at Mar. 31, 201951,414
Beginning balance at Mar. 31, 2019896,424 $ 5,141 780,680 119,779 (4,959)(4,217)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Comprehensive income32,740 23,253 9,487
Stock based compensation expense1,899 1,899
Common stock transactions related to stock based employee benefit plans (in shares)22
Common stock transactions related to stock based employee benefit plans(1,188) $ 2 (12)(1,178)
Common stock issued for stock options (in shares)25
Common stock issued for stock options364 $ 3 361
Increase (decrease) in shares during period (in shares)47
Increase (decrease) in stockholders' equity during period33,815 $ 5 2,248 23,253 (1,178)9,487
Ending balance (in shares) at Jun. 30, 201951,461
Ending balance at Jun. 30, 2019930,239 $ 5,146 782,928 143,032 (6,137)5,270
Beginning balance (in shares) at Dec. 31, 201951,514
Beginning balance at Dec. 31, 2019985,639 $ 5,151 786,242 195,813 (6,032)4,465 $ (16,876) $ (16,876)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Comprehensive income38,618 25,789 12,829
Stock based compensation expense3,523 3,523
Common stock transactions related to stock based employee benefit plans (in shares)377
Common stock transactions related to stock based employee benefit plans(2,014) $ 38 (47)(2,005)
Common stock issued for stock options (in shares)57
Common stock issued for stock options682 $ 6 676
Issuance of common stock, pursuant to acquisition (in shares)1,043
Issuance of common stock, pursuant to acquisition21,031 $ 104 20,927
Increase (decrease) in shares during period (in shares)1,477
Increase (decrease) in stockholders' equity during period44,964 $ 148 25,079 8,913 (2,005)12,829
Ending balance (in shares) at Jun. 30, 202052,991
Ending balance at Jun. 30, 20201,030,603 $ 5,299 811,321 204,726 (8,037)17,294
Beginning balance (in shares) at Mar. 31, 202052,709
Beginning balance at Mar. 31, 2020991,787 $ 5,271 809,533 179,646 (7,422)4,759
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Comprehensive income37,615 25,080 12,535
Stock based compensation expense1,523 1,523
Common stock transactions related to stock based employee benefit plans (in shares)262
Common stock transactions related to stock based employee benefit plans(604) $ 26 (15)(615)
Common stock issued for stock options (in shares)20
Common stock issued for stock options282 $ 2 280
Increase (decrease) in shares during period (in shares)282
Increase (decrease) in stockholders' equity during period38,816 $ 28 1,788 25,080 (615)12,535
Ending balance (in shares) at Jun. 30, 202052,991
Ending balance at Jun. 30, 2020 $ 1,030,603 $ 5,299 $ 811,321 $ 204,726 $ (8,037) $ 17,294

Basis of Presentation

Basis of Presentation6 Months Ended
Jun. 30, 2020
Accounting Policies [Abstract]
Basis of PresentationBasis of Presentation Basis of Presentation: The accompanying unaudited condensed consolidated financial statements of Seacoast Banking Corporation of Florida and its subsidiaries (the "Company") have been prepared in accordance with U.S. generally accepted accounting principles ("U.S. GAAP") for interim financial information and with the instructions to Form 10-Q and Rule 10-01 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. Certain prior period amounts have been reclassified to conform to the current period presentation. Operating results for the six months ended June 30, 2020 are not necessarily indicative of the results that may be expected for the year ending December 31, 2020 or any other period. For further information, refer to the consolidated financial statements and footnotes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2019. Use of Estimates: The preparation of these condensed consolidated financial statements requires management to make judgments in the application of certain of its accounting policies that involve significant estimates and assumptions. The Company has established policies and control procedures that are intended to ensure valuation methods are well controlled and applied consistently from period to period. These estimates and assumptions, which may materially affect the reported amounts of certain assets, liabilities, revenues and expenses, are based on information available as of the date of the financial statements, and changes in this information over time and the use of revised estimates and assumptions could materially affect amounts reported in subsequent financial statements. Specific areas, among others, requiring the application of management’s estimates include determination of the allowance for credit losses, acquisition accounting and purchased loans, intangible assets and impairment testing, other fair value adjustments, income taxes and realization of deferred tax assets and contingent liabilities. Adoption of new accounting pronouncements: On January 1, 2020, the Company adopted Financial Accounting Standards Board ("FASB") Accounting Standards Codification Topic 326 Financial Instruments - Credit Losses ("ASC Topic 326") which replaces the incurred loss methodology with an expected loss methodology that is referred to as the current expected credit loss ("CECL") methodology. The measurement of expected credit losses under the CECL methodology is applicable to financial assets measured at amortized cost, including loan receivables and held-to-maturity ("HTM") debt securities. It also applies to off-balance sheet credit exposure such as loan commitments, standby letters of credit, financial guarantees and other similar instruments. In addition, ASC Topic 326 changed the accounting for impairment of available-for-sale ("AFS") debt securities. The Company adopted ASC Topic 326 using the modified retrospective method for all financial assets measured at amortized cost and off-balance sheet credit exposures. Results for the reporting period beginning after January 1, 2020 are presented under ASC Topic 326, while prior period amounts continue to be reported in accordance with previously applicable GAAP. The following table reflects the cumulative effect of adoption: (in thousands) December 31, 2019 CECL adoption impact January 1, 2020 Loans $ 5,198,404 $ (706) $ 5,197,698 Allowance for credit losses 35,154 21,226 56,380 Reserve for unfunded commitments 140 1,837 1,977 Deferred tax assets 16,457 (5,481) 10,976 Retained earnings 195,813 (16,876) 178,937 ASC Topic 326 introduced new definitions and criteria for categorizing purchased loans. Loans that, as of the date of acquisition, have experienced a more-than-insignificant deterioration in credit quality since origination are classified as purchased credit deteriorated ("PCD"). Acquired loans which do not meet the definition of PCD are classified by the Company as acquired Non-PCD. At the date of adoption, the Company reclassified all loans previously classified as purchased credit impaired ("PCI") to PCD, and increased the allowance by $0.7 million with a corresponding adjustment to these loans' amortized cost basis. The remaining noncredit discount on loans previously classified as PCI was $0.9 million, which will be accreted into interest income over the remaining life of the loans. Under CECL, the Company estimates the allowance using relevant available information, from both internal and external sources, relating to past events, current conditions, and reasonable and supportable forecasts. Historical credit losses provide the basis for the estimation of expected credit losses. Adjustments to historical loss information are made for differences in current loan-specific risk characteristics such as differences in underwriting standards, portfolio mix, delinquency level, loan to value ratios, borrower credit characteristics, loan seasoning or term as well as for changes in environmental conditions, such as changes in unemployment rates, property values, occupancy rates, and other macroeconomic metrics. For loans analyzed on a collective basis, the Company has developed an allowance model based on an analysis of the probability of default ("PD") and loss given default ("LGD") to determine an expected loss by loan segment. PDs and LGDs are developed by analyzing the average historical loss migration of loans to default. The Company excludes accrued interest on loans from its determination of allowance. The allowance estimation process also applies an economic forecast scenario over a three year forecast period. The forecast may utilize one scenario or a composite of scenarios based on management's judgment and expectations around the current and future macroeconomic outlook. Expected credit losses are estimated over the contractual term of the loans, adjusted for expected prepayments when appropriate. The contractual term excludes expected extensions, renewals, and modification unless either of the following applies: management has a reasonable expectation at the reporting date that a troubled debt restructuring ("TDR") will be executed with an individual borrower, or the extension or renewal options are explicitly stated in the contract and are not unconditionally under the control of the Company. For portfolio segments with a weighted average life longer than three years, the Company reverts to longer-term historical loss experience, adjusted for prepayments, to estimate losses over the remaining life of the loans within each segment. Adjustments may be made to baseline reserves based on an assessment of internal and external influences on credit quality not fully reflected in the quantitative components of the allowance model. These influences may include elements such as changes in concentration, macroeconomic conditions, recent observable asset quality trends, staff turnover, regional market conditions, employment levels and loan growth. Based on management's assessments of these factors, the Company may apply qualitative adjustments to the allowance. Loans that do not share risk characteristics are evaluated on an individual basis. Loans evaluated individually are not also included in the collective evaluation. Loans evaluated individually are collateral dependent and primarily secured by real estate. When management determines that foreclosure is probable, expected credit losses are based on the fair value of the collateral at the reporting date, adjusted for selling costs as appropriate. In response to the COVID-19 pandemic beginning in early 2020, rules defined in the Coronavirus Aid, Relief and Economic Security ("CARES") Act and a joint statement issued by federal regulators in consultation with FASB provide financial institutions with the option not to apply troubled debt restructure ("TDR") accounting to eligible loan modifications provided to borrowers affected by COVID-19 pandemic. See Note E - Loans for information on loan modifications offered by the Company under this guidance. Outside of this guidance, a loan for which the terms have been modified resulting in a concession, and for which the borrower is experiencing financial difficulty, is considered to be a TDR. The allowance for credit losses on a TDR is measured using the same method as all other loans held for investment, except when the value of a concession cannot be measured using a method other than the discounted cash flow method. When the value of a concession is measured using the discounted cash flow method, the allowance for credit losses is determined by discounting the expected future cash flows at the original interest rate of the loan. The Company estimates a reserve for unfunded commitments, which is reported separately from the allowance for credit losses within other liabilities. The reserve is based upon the same quantitative and qualitative factors applied to the collectively evaluated loan portfolio. All HTM debt securities are issued by government-sponsored entities, which are either explicitly or implicitly guaranteed by the U.S. government and have a long history of no credit losses. In addition, the credit rating on all the Company's HTM debt securities as of the date of adoption is AA+. There is no history of the government withholding or limiting support to these agencies, nor is there any indication of a change to that historical support. While the potential for default on these securities may be something greater than zero, the long history with no credit losses, the implied government guarantee of principal and interest payments and the high credit rating of the HTM portfolio provide sufficient basis for the current expectation that there is zero risk of loss if default were to occur. As a result, the Company recorded no allowance for HTM debt securities with fair value less than amortized cost basis at the date of adoption. ASC Topic 326 amended the existing other-than-temporary-impairment guidance for AFS securities, requiring credit losses to be recorded as an allowance rather than through a permanent write-down. When evaluating AFS debt securities under ASC Topic 326, the Company has evaluated whether the decline in fair value is attributed to credit losses or other factors using both quantitative and qualitative analyses, including cash flow analysis, review of credit ratings, remaining payment terms, prepayment speeds and analysis of macro-economic conditions. At the date of adoption, collateralized loan obligations had unrealized losses of $1.2 million. The collateral for these securities is first lien senior secured corporate debt, and the Company holds senior tranches rated A or higher. Based on this analysis, the Company believes that the unrealized loss position for AFS debt securities at the time of adoption was the result of both broad investment type spreads and the current rate environment. Each investment is expected to recover its price depreciation over its holding period as it moves to maturity and the Company has the intent and ability to hold these securities to maturity if necessary. As a result of this evaluation, the Company concluded that no allowance was appropriate. In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform (Topic 848) . The guidance provides accounting relief to contract modifications that replace an interest rate impacted by reference rate reform (e.g. London Inter-Bank Offered Rate ("LIBOR")) with a new alternative reference rate. The guidance is applicable to investment securities, receivables, loans, debt, leases, derivatives and hedge accounting elections, and other contractual arrangements. The Company applied the guidance prospectively beginning April 1, 2020, with no material impact on the financial position, results of operations or cash flows.

Recently Issued Accounting Stan

Recently Issued Accounting Standards, Not Yet Adopted6 Months Ended
Jun. 30, 2020
Accounting Policies [Abstract]
Recently Issued Accounting Standards, Not Yet AdoptedRecently Issued Accounting Standards, Not Yet AdoptedNone this period.

Earnings per Share

Earnings per Share6 Months Ended
Jun. 30, 2020
Earnings Per Share [Abstract]
Earnings per ShareEarnings per Share Basic earnings per common share is computed by dividing net income available to common shareholders by the weighted average number of shares of common stock outstanding during the period. For the three and six months ended June 30, 2020, options to purchase 508,000 and 489,000 shares, respectively, were anti-dilutive and, accordingly, were excluded in the computation of diluted earnings per share, compared to 494,000 shares for the three and six months ended June 30, 2019. Three Months Ended June 30, Six Months Ended June 30, (Dollars in thousands, except per share data) 2020 2019 2020 2019 Basic earnings per share Net income $ 25,080 $ 23,253 $ 25,789 $ 45,958 Average common shares outstanding 52,985 51,446 52,394 51,403 Net income per share $ 0.47 $ 0.45 $ 0.49 $ 0.89 Diluted earnings per share Net income $ 25,080 $ 23,253 $ 25,789 $ 45,958 Average common shares outstanding 52,985 51,446 52,394 51,403 Add: Dilutive effect of employee restricted stock and stock options 323 506 413 595 Average diluted shares outstanding 53,308 51,952 52,807 51,998 Net income per share $ 0.47 $ 0.45 $ 0.49 $ 0.88

Securities

Securities6 Months Ended
Jun. 30, 2020
Investments, Debt and Equity Securities [Abstract]
SecuritiesSecurities The amortized cost, gross unrealized gains and losses and fair value of securities available-for-sale and held-to-maturity at June 30, 2020 and December 31, 2019 are summarized as follows: June 30, 2020 (In thousands) Amortized Gross Gross Unrealized Fair Debt securities available-for-sale U.S. Treasury securities and obligations of U.S. government agencies $ 8,981 $ 418 $ (1) $ 9,398 Mortgage-backed securities and collateralized mortgage obligations of U.S. government-sponsored entities 636,528 24,747 (90) 661,185 Private mortgage-backed securities and collateralized mortgage obligations 75,756 1,645 (550) 76,851 Collateralized loan obligations 204,258 3 (5,444) 198,817 Obligations of state and political subdivisions 27,819 1,958 (3) 29,774 Totals $ 953,342 $ 28,771 $ (6,088) $ 976,025 Debt securities held-to-maturity Mortgage-backed securities of U.S. government-sponsored entities $ 227,092 $ 8,860 $ (6) $ 235,946 Totals $ 227,092 $ 8,860 $ (6) $ 235,946 December 31, 2019 (In thousands) Amortized Gross Unrealized Gross Unrealized Fair Debt securities available-for-sale U.S. Treasury securities and obligations of U.S. government agencies $ 9,914 $ 204 $ (4) $ 10,114 Mortgage-backed securities and collateralized mortgage obligations of U.S. government-sponsored entities 604,934 5,784 (1,511) 609,207 Private mortgage-backed securities and collateralized mortgage obligations 56,005 1,561 (5) 57,561 Collateralized loan obligations 239,364 7 (1,153) 238,218 Obligations of state and political subdivisions 30,548 1,208 (1) 31,755 Totals $ 940,765 $ 8,764 $ (2,674) $ 946,855 Debt securities held-to-maturity Mortgage-backed securities of U.S. government-sponsored entities 261,369 2,717 (1,873) 262,213 Totals $ 261,369 $ 2,717 $ (1,873) $ 262,213 Proceeds from sales of securities during the three months ended June 30, 2020 and 2019 were $64.5 million and $38.2 million, respectively. Included in "Securities gains (losses), net" are gross gains of $2.3 million and gross losses of $1.1 million for the three months ended June 30, 2020. For the three months ended June 30, 2019, gross losses of $0.6 million on available-for-sale debt securities and an increase of $0.1 million in the value of an investment in shares of a mutual fund that invests primarily in CRA-qualified debt securities are included in "Securities gains (losses), net". Proceeds from sales of securities during the six months ended June 30, 2020 and 2019 were $92.3 million and $73.3 million, respectively. Included in "Securities gains (losses), net" are gross gains of $2.4 million and gross losses of $1.3 million for the six months ended June 30, 2020. Also included are gross gains of $0.2 million and gross losses of $0.9 million for the six months ended June 30, 2019. "Securities gains (losses), net" also includes an increase of $0.2 million for each of the six months ended June 30, 2020 and 2019, in the value of an investment in shares of a mutual fund that invests primarily in CRA-qualified debt securities. The second quarter of 2020 included repositioning of investments in collateralized loan obligations ("CLO") securities, replacing "A" rated securities with "AAA" rated securities. At June 30, 2020, debt securities with a fair value of $330.3 million were pledged primarily as collateral for public deposits and secured borrowings. The amortized cost and fair value of debt securities held-to-maturity and available-for-sale at June 30, 2020, by contractual maturity, are shown below. Expected maturities will differ from contractual maturities because prepayments of the underlying collateral for these securities may occur, due to the right to call or repay obligations with or without call or prepayment penalties. Securities not due at a single maturity date are shown separately. Held to Maturity Available-for-Sale (In thousands) Amortized Fair Amortized Fair Due in less than one year $ — $ — $ 2,100 $ 2,125 Due after one year through five years — — 8,655 9,063 Due after five years through ten years — — 8,577 9,200 Due after ten years — — 17,468 18,784 — — 36,800 39,172 Mortgage-backed securities and collateralized mortgage obligations of U.S. government-sponsored entities 227,092 235,946 636,528 661,185 Private mortgage-backed securities and collateralized mortgage obligations — — 75,756 76,851 Collateralized loan obligations — — 204,258 198,817 Totals $ 227,092 $ 235,946 $ 953,342 $ 976,025 The estimated fair value of a security is determined based on market quotations when available or, if not available, by using quoted market prices for similar securities, pricing models or discounted cash flows analyses, or using observable market data. The tables below indicate, at June 30, 2020, the fair value of available-for-sale debt securities with unrealized losses for which no allowance for credit losses has been recorded, and at December 31, 2019, the fair value of available-for-sale and held-to-maturity debt securities with unrealized losses for which no allowance has been recorded. June 30, 2020 Less Than 12 Months 12 Months or Longer Total (In thousands) Fair Unrealized Fair Unrealized Fair Unrealized U.S. Treasury securities and obligations of U.S. government agencies $ 269 (1) $ — $ — $ 269 $ (1) Mortgage-backed securities and collateralized mortgage obligations of U.S. government-sponsored entities 65,273 (74) 357 (16) 65,630 (90) Private mortgage-backed securities and collateralized mortgage obligations 24,532 (550) — — 24,532 (550) Collateralized loan obligations 84,299 (1,638) 108,609 (3,806) 192,908 (5,444) Obligations of state and political subdivisions 512 (3) — — 512 (3) Totals $ 174,885 $ (2,266) $ 108,966 $ (3,822) $ 283,851 $ (6,088) December 31, 2019 Less Than 12 Months 12 Months or Longer Total (In thousands) Fair Unrealized Fair Unrealized Fair Unrealized U.S. Treasury securities and obligations of U.S. government agencies $ 758 $ (4) $ — $ — $ 758 $ (4) Mortgage-backed securities and collateralized mortgage obligations of U.S. government-sponsored entities 220,057 (1,461) 104,184 (1,923) 324,241 (3,384) Private mortgage-backed securities and collateralized mortgage obligations 2,978 (5) — — 2,978 (5) Collateralized loan obligations 88,680 (570) 110,767 (583) 199,447 (1,153) Obligations of state and political subdivisions 515 (1) — — 515 (1) Totals $ 312,988 $ (2,041) $ 214,951 $ (2,506) $ 527,939 $ (4,547) At June 30, 2020, the Company had $5.4 million in unrealized losses in uncapped 3-month LIBOR floating rate collateralized loan obligations ("CLOs") having a fair value of $192.9 million. CLOs are special purpose vehicles and those in which the Company has invested acquire nearly all first-lien, broadly syndicated corporate loans across a diversified band of industries while providing support to senior tranche investors. As of June 30, 2020, all positions held by the Company are in AAA and AA tranches, with average credit support of 36% and 26%, respectively. The Company evaluates the securities for potential credit losses by modeling expected loan-level defaults, recoveries, and prepayments for each CLO security. Based on the assessment of all relevant factors, the Company believes that the unrealized loss positions on these debt securities are a function of changes in investment spreads and interest rate movements and not changes in credit quality, and expects to recover the entire amortized cost basis of these securities. Therefore, at June 30, 2020, no allowance for credit losses has been recorded. At June 30, 2020, the Company had $0.6 million of unrealized losses on private label residential and commercial mortgage-backed securities and collateralized mortgage obligations having a fair value of $24.5 million. The collateral underlying these mortgage investments is primarily residential real estate. The securities have average credit support of 22%. Based on the assessment of all relevant factors, the Company believes that the unrealized loss positions on these debt securities are a function of changes in investment spreads and interest rate movements and not changes in credit quality, and expects to recover the entire amortized cost basis of these securities. Therefore, at June 30, 2020, no allowance for credit losses has been recorded. All HTM debt securities are issued by government-sponsored entities, which are either explicitly or implicitly guaranteed by the U.S. government and have a long history of no credit losses. While the potential for default on these securities may be something greater than zero, the long history with no credit losses, the implied government guarantee of principal and interest payments and the high credit rating of the HTM portfolio provide sufficient basis for the current expectation that there is no risk of loss if default were to occur. Despite the emergence of significant market changes and increasing degrees of uncertainty in the U.S. economy in 2020, there has to date been no specific impact on the agencies or changes in the nature or quality of the guarantee they provide. As a result, as of June 30, 2020, no allowance for credit losses has been recorded. Included in other assets at June 30, 2020 is $37.2 million of Federal Home Loan Bank and Federal Reserve Bank stock stated at par value. The Company has not identified events or changes in circumstances that may have a significant adverse effect on the fair value of these cost method investment securities. Also included in other assets is a $6.5 million investment in a CRA-qualified mutual fund carried at fair value. Accrued interest receivable on AFS and HTM debt securities of $3.1 million and $0.5 million at June 30, 2020, respectively, and $3.8 million and $0.6 million at December 31, 2019, respectively, is also included in other assets.

Loans

Loans6 Months Ended
Jun. 30, 2020
Receivables [Abstract]
LoansLoans Loans held for investment are categorized into the following segments: • Construction and land development: Loans are extended to both commercial and consumer customers which are collateralized by and for the purpose of funding land development and construction projects, including 1-4 family residential construction, multi-family property and non-farm residential property where the primary source of repayment is from proceeds of the sale, refinancing or permanent financing of the property. • Commercial real estate - owner-occupied: Loans are extended to commercial customers for the purpose of acquiring real estate to be occupied by the borrower's business. These loans are collateralized by the subject property and the repayment of these loans is largely dependent on the performance of the company occupying the property. • Commercial real estate - non owner-occupied: Loans are extended to commercial customers for the purpose of acquiring commercial property where occupancy by the borrower is not their primary intent. These loans are viewed primarily as cash flow loans, collateralized by the subject property, and the repayment of these loans is largely dependent on rental income from the successful operation of the property. • Residential real estate: Loans are extended to consumer customers and collateralized primarily by 1-4 family residential properties and include fixed and variable rate mortgages, home equity mortgages, and home equity lines of credit. Loans are primarily written based on conventional loan agency guidelines, including loans that exceed agency value limitations. Sources of repayment may be from the occupant of the residential property or from cash flows on rental income from the successful operation of the property. • Commercial and financial: Loans are extended to commercial customers. The purpose of the loans can be working capital, physical asset expansion, asset acquisition or other business purposes. Loans may be collateralized by assets owned by the borrower or the borrower's business. Commercial loans are based primarily on the historical and projected cash flow of the borrower's business and secondarily on the capacity of credit enhancements, guarantees and underlying collateral provided by the borrower. • Consumer: Loans are extended to consumer customers. The segment includes both installment loans and lines of credit which may be collateralized or non-collateralized. • Paycheck Protection Program ("PPP"): Loans originated under a temporary program established by the CARES Act. Under the terms of the program, balances may be forgiven if the borrower uses the funds in a manner consistent with the program guidelines, and repayment is guaranteed by the U.S. government. The following tables present net loan balances by segment as of: June 30, 2020 (In thousands) Portfolio Loans Acquired Non-PCD Loans PCD Loans Total Construction and land development $ 270,715 $ 25,691 $ 2,429 $ 298,835 Commercial real estate - owner-occupied 832,943 216,598 27,109 1,076,650 Commercial real estate - non owner-occupied 1,074,063 306,880 11,844 1,392,787 Residential real estate 1,249,368 210,247 8,556 1,468,171 Commercial and financial 692,933 63,272 1,027 757,232 Consumer 195,863 5,700 364 201,927 Paycheck Protection Program 576,450 — — 576,450 Totals $ 4,892,335 $ 828,388 $ 51,329 $ 5,772,052 December 31, 2019 (In thousands) Portfolio Loans PULs PCI Loans Total Construction and land development $ 281,335 $ 43,618 $ 160 $ 325,113 Commercial real estate 1 1,834,811 533,943 10,217 2,378,971 Residential real estate 1,304,305 201,848 1,710 1,507,863 Commercial and financial 697,301 80,372 579 778,252 Consumer 200,166 8,039 — 208,205 Totals $ 4,317,918 $ 867,820 $ 12,666 $ 5,198,404 1 Commercial real estate includes owner-occupied balances of $1.0 billion for December 31, 2019. The amortized cost basis of loans at June 30, 2020 included net deferred costs of $21.5 million on non-PPP portfolio loans and net deferred fees of $13.0 million on PPP loans. At December 31, 2019, the amortized cost basis included net deferred costs of $19.9 million. In the first quarter of 2020, the Company completed the acquisition of First Bank of the Palm Beaches, adding PCD loans of $43.0 million and Non-PCD loans of $103.8 million. See additional discussion in Note L - Business Combinations. At June 30, 2020, the remaining fair value adjustments on acquired loans was $28.9 million, or 3.3% of the outstanding acquired loan balances, which consisted of $1.0 million on PCD loans and $27.9 million on acquired Non-PCD loans. At December 31, 2019, the remaining fair value adjustments for acquired loans was $34.9 million, or 3.8% of the acquired loan balances. These amounts are accreted into interest income over the remaining lives of the related loans on a level yield basis. Accrued interest receivable is included within Other Assets and was $25.3 million and $14.9 million at June 30, 2020 and December 31, 2019, respectively. The following tables present the status of net loan balances as of June 30, 2020 and December 31, 2019. Loans on short-term payment deferral at the reporting date are reflected as current. June 30, 2020 (In thousands) Current Accruing Accruing Accruing Nonaccrual Total Portfolio Loans Construction and land development $ 270,070 $ — $ 623 $ — $ 22 $ 270,715 Commercial real estate - owner-occupied 829,903 — — 615 2,425 832,943 Commercial real estate - non owner-occupied 1,069,979 1,988 — — 2,096 1,074,063 Residential real estate 1,230,480 3,729 4,833 — 10,326 1,249,368 Commercial and financial 683,667 2,034 39 216 6,977 692,933 Consumer 195,246 169 46 — 402 195,863 Paycheck Protection Program 576,450 — — — — 576,450 Total Portfolio Loans 4,855,795 7,920 5,541 831 22,248 4,892,335 Acquired Non-PCD Loans Construction and land development 25,117 — — — 574 25,691 Commercial real estate - owner-occupied 213,731 1,526 — — 1,341 216,598 Commercial real estate - non owner-occupied 306,612 — — 268 — 306,880 Residential real estate 208,963 — — — 1,284 210,247 Commercial and financial 60,941 — — — 2,331 63,272 Consumer 5,677 23 — — — 5,700 Total Acquired Non-PCD Loans 821,041 1,549 — 268 5,530 828,388 PCD Loans Construction and land development 2,419 — — — 10 2,429 Commercial real estate - owner-occupied 27,109 — — — — 27,109 Commercial real estate - non owner-occupied 10,808 — — — 1,036 11,844 Residential real estate 7,379 — — — 1,177 8,556 Commercial and financial 977 — — — 50 1,027 Consumer 277 87 — — — 364 Total PCD Loans 48,969 87 — — 2,273 51,329 Total Loans $ 5,725,805 $ 9,556 $ 5,541 $ 1,099 $ 30,051 $ 5,772,052 December 31, 2019 (In thousands) Current Accruing Accruing Accruing Nonaccrual Total Portfolio Loans Construction and land development $ 276,984 $ — $ — $ — $ 4,351 $ 281,335 Commercial real estate 1,828,629 1,606 220 — 4,356 1,834,811 Residential real estate 1,294,778 1,564 18 — 7,945 1,304,305 Commercial and financial 690,412 2,553 — 108 4,228 697,301 Consumer 199,424 317 315 — 110 200,166 Total Portfolio Loans 4,290,227 6,040 553 108 20,990 4,317,918 Purchased Unimpaired Loans Construction and land development 43,044 — — — 574 43,618 Commercial real estate 531,325 942 431 — 1,245 533,943 Residential real estate 201,159 277 — — 412 201,848 Commercial and financial 78,705 — — — 1,667 80,372 Consumer 8,039 — — — — 8,039 Total PULs 862,272 1,219 431 — 3,898 867,820 Purchased Credit Impaired Loans Construction and land development 148 — — — 12 160 Commercial real estate 9,298 — — — 919 10,217 Residential real estate 587 — — — 1,123 1,710 Commercial and financial 566 — — — 13 579 Consumer — — — — — — Total PCI Loans 10,599 — — — 2,067 12,666 Total Loans $ 5,163,098 $ 7,259 $ 984 $ 108 $ 26,955 $ 5,198,404 All interest accrued but not received for loans placed on nonaccrual is reversed against interest income. Interest received on such loans is accounted for on the cost-recovery method. Under the cost-recovery method, interest income is not recognized until the loan balance is reduced to zero. Loans are returned to accrual status when all the principal and interest amounts contractually due are brought current, and future payments are reasonably assured. The Company recognized $0.3 million in interest income on nonaccrual loans during each of the three months ended June 30, 2020 and 2019. The following tables present net balances of loans on nonaccrual status and the related allowance for credit losses, if any, as of: June 30, 2020 (In thousands) Nonaccrual Loans With No Related Allowance Nonaccrual Loans With an Allowance Total Nonaccrual Loans Allowance for Credit Losses Construction and land development $ 585 $ 21 $ 606 $ 11 Commercial real estate - owner-occupied 3,445 321 3,766 160 Commercial real estate - non owner-occupied 2,096 1,036 3,132 204 Residential real estate 11,871 916 12,787 793 Commercial and financial 4,808 4,550 9,358 3,409 Consumer 32 370 402 86 Totals $ 22,837 $ 7,214 $ 30,051 $ 4,663 December 31, 2019 (In thousands) Nonaccrual Loans With No Related Allowance Nonaccrual Loans With an Allowance Total Nonaccrual Loans Allowance for Credit Losses Construction and land development $ 4,913 $ 23 $ 4,936 $ 12 Commercial real estate 6,200 320 6,520 149 Residential real estate 8,700 780 9,480 564 Commercial and financial 3,449 2,460 5,909 1,622 Consumer 39 71 110 37 Totals $ 23,301 $ 3,654 $ 26,955 $ 2,384 Collateral Dependent Loans Loans are considered collateral dependent when the repayment, based on the Company's assessment as of the reporting date, is expected to be provided substantially through the operation or sale of the underlying collateral and there are no other available and reliable sources of repayment. The following table presents collateral dependent loans as of: (In thousands) June 30, 2020 December 31, 2019 Construction and land development $ 634 $ 4,926 Commercial real estate - owner-occupied 6,173 2,571 Commercial real estate - non owner-occupied 3,574 3,152 Residential real estate 14,117 11,550 Commercial and financial 5,526 4,338 Consumer 410 141 Totals $ 30,434 $ 26,678 Loans by Risk Rating The Company utilizes an internal asset classification system as a means of identifying problem and potential problem loans. The following classifications are used to categorize loans under the internal classification system: • Pass: Loans that are not problem loans or potential problem loans are considered to be pass-rated. • Special Mention: Loans that do not currently expose the Company to sufficient risk to warrant classification in the Substandard or Doubtful categories, but possess weaknesses that deserve management's close attention are deemed to be Special Mention. • Substandard: Loans with the distinct possibility that the Company will sustain some loss if the deficiencies are not corrected. • Substandard Impaired: Loans typically placed on nonaccrual and considered to be collateral dependent or accruing TDRs. • Doubtful: Loans that have all the weaknesses inherent in those classified Substandard with the added characteristic that the weakness present makes collection or liquidation in full, on the basis of currently existing facts, conditions and values, highly questionable and improbable. The principal balance of loans classified as doubtful are likely to be charged off. The following tables present the risk rating of loans by year of origination: June 30, 2020 (In thousands) 2020 2019 2018 2017 2016 Prior Revolving Total Construction and Land Development Risk Ratings: Pass $ 29,412 $ 95,549 $ 70,528 $ 35,134 $ 10,478 $ 18,260 $ 33,439 $ 292,800 Special Mention 198 503 1,378 38 — 2,147 — 4,264 Substandard — — — — — 58 988 1,046 Substandard Impaired — — — — 574 151 — 725 Doubtful — — — — — — — — Total 29,610 96,052 71,906 35,172 11,052 20,616 34,427 298,835 Commercial real estate - owner-occupied Risk Ratings: Pass 74,304 185,717 157,946 139,936 158,728 317,778 15,952 1,050,361 Special Mention 199 1,616 — 1,016 4,471 4,088 — 11,390 Substandard — — 570 3,782 1,066 5,100 — 10,518 Substandard Impaired — — — 426 — 3,634 — 4,060 Doubtful 1 — — — — 321 — — 321 Total 74,503 187,333 158,516 145,160 164,586 330,600 15,952 1,076,650 Commercial real estate - non owner-occupied Risk Ratings: Pass 80,710 321,844 230,276 130,437 196,698 390,280 6,150 1,356,395 Special Mention — 105 — 1,376 7,876 1,117 — 10,474 Substandard — — 5,705 — 8,326 6,367 1,350 21,748 Substandard Impaired — — — — 126 4,044 — 4,170 Doubtful — — — — — — — — Total 80,710 321,949 235,981 131,813 213,026 401,808 7,500 1,392,787 Residential real estate Risk Ratings: Pass 32,562 160,057 261,757 273,829 196,662 202,708 312,596 1,440,171 Special Mention — 190 277 721 3,387 621 68 5,264 Substandard — — 1,334 — — 1,607 1,580 4,521 Substandard Impaired 84 693 — 3,613 — 10,495 3,330 18,215 Doubtful — — — — — — — — Total 32,646 160,940 263,368 278,163 200,049 215,431 317,574 1,468,171 Commercial and financial Risk Ratings: Pass 100,094 152,509 115,004 88,448 44,728 52,576 185,175 738,534 Special Mention — 287 14 530 95 2,255 1,181 4,362 Substandard — 148 337 259 425 1,698 2,099 4,966 Substandard Impaired — 644 1,847 2,403 1,819 940 1,669 9,322 Doubtful 1 — — — 39 — — 9 48 Total 100,094 153,588 117,202 91,679 47,067 57,469 190,133 757,232 June 30, 2020 (In thousands) 2020 2019 2018 2017 2016 Prior Revolving Total Consumer Risk Ratings: Pass 29,140 55,596 38,416 25,291 26,191 12,986 11,225 198,845 Special Mention — 23 29 105 — 87 1,751 1,995 Substandard — — — 19 8 39 340 406 Substandard Impaired 41 52 48 — 316 224 — 681 Doubtful — — — — — — — — Total 29,181 55,671 38,493 25,415 26,515 13,336 13,316 201,927 Paycheck Protection Program Risk Ratings: Pass 576,450 — — — — — — 576,450 Total 576,450 — — — — — — 576,450 Consolidated Risk Ratings: Pass 922,672 971,272 873,927 693,075 633,485 994,588 564,537 5,653,556 Special Mention 397 2,724 1,698 3,786 15,829 10,315 3,000 37,749 Substandard — 148 7,946 4,060 9,825 14,869 6,357 43,205 Substandard Impaired 125 1,389 1,895 6,442 2,835 19,488 4,999 37,173 Doubtful 1 — — — 39 321 — 9 369 Total $ 923,194 $ 975,533 $ 885,466 $ 707,402 $ 662,295 $ 1,039,260 $ 578,902 $ 5,772,052 1 Loans classified as doubtful are fully reserved as of June 30, 2020. The following table presents the risk rating of loans as of: December 31, 2019 (In thousands) Pass Special Substandard Doubtful 1 Total Construction and land development $ 317,765 $ 2,235 $ 5,113 $ — $ 325,113 Commercial real estate 2,331,725 26,827 20,098 321 2,378,971 Residential real estate 1,482,278 7,364 18,221 — 1,507,863 Commercial and financial 755,957 11,925 9,496 874 778,252 Consumer 203,966 3,209 1,030 — 208,205 Totals $ 5,091,691 $ 51,560 $ 53,958 $ 1,195 $ 5,198,404 1 Loans classified as doubtful are fully reserved as of December 31, 2019. Troubled Debt Restructured Loans The Company’s TDR concessions granted to certain borrowers generally do not include forgiveness of principal balances, but may include interest rate reductions, an extension of the amortization period and/or converting the loan to interest only for a limited period of time. Loan modifications are not reported in calendar years after modification if the loans were modified at an interest rate equal to the yields of new loan originations with comparable risk and the loans are performing based on the terms of the restructuring agreements. Loans Modified in Connection with COVID-19 Pandemic The CARES Act, which was signed into law on March 27, 2020, encourages financial institutions to practice prudent efforts to work with borrowers impacted by the COVID-19 pandemic by providing an option for financial institutions to exclude from TDR consideration certain loan modifications that might otherwise be categorized as TDRs under ASC 310-40. This option is available for modifications that are deemed to be COVID-related, where the borrower was not more than 30 days past due on December 31, 2019, and the modification is executed between March 1, 2020 and the earlier of (i) December 31, 2020 or (ii) 60 days after the end of the COVID-19 national emergency. Federal banking regulators issued similar guidance that also allows lenders to conclude that short-term modifications for borrowers affected by the pandemic should not be considered TDRs if the borrower was current at the time of modification. Seacoast began offering short-term payment deferrals of up to six months to eligible borrowers in March 2020 and, at June 30, 2020, had $1.1 billion of loans on payment deferral, none of which have been classified as TDRs. The following table presents loans on payment deferral, excluding PPP loans, as of June 30, 2020: (In thousands) Loans Outstanding % on Payment Deferral Construction and land development $ 14,488 5% Commercial real estate - owner-occupied 320,406 30% Commercial real estate - non owner-occupied 445,311 32% Residential real estate 148,035 10% Commercial and financial 130,877 17% Consumer 17,926 9% Totals $ 1,077,043 21% The following table presents loans that were modified in a troubled debt restructuring during the three and six months ended: Three Months Ended June 30, 2020 2019 (In thousands) Number of Contracts Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment Number of Contracts Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment Construction and land development 1 $ 12 $ 12 — $ — $ — Commercial real estate - owner-occupied — — — 1 351 351 Commercial real estate - non owner-occupied — — — — — — Residential real estate — — — — — — Commercial and financial — — — — — — Consumer 2 47 47 1 19 19 Totals 3 $ 59 $ 59 2 $ 370 $ 370 Six Months Ended June 30, 2020 2019 (In thousands) Number of Contracts Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment Number of Contracts Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment Construction and land development 1 $ 12 $ 12 — $ — $ — Commercial real estate - owner-occupied — — — 2 2,166 2,166 Commercial real estate - non owner-occupied — — — — — — Residential real estate 1 45 45 — — — Commercial and financial 4 437 437 1 180 180 Consumer 2 47 47 1 19 19 Totals 8 $ 541 $ 541 4 $ 2,365 $ 2,365 The TDRs described above resulted in a specific allowance for credit losses of $0.4 million as of June 30, 2020, and no specific allowance for credit losses as of June 30, 2019. During the six months ended June 30, 2020, there were three defaults totaling $1.4 million of loans that had been modified in TDRs within the preceding twelve months. During the six months ended June 30, 2019, there were no payment defaults on loans that had been modified to a TDR within the preceding twelve months. The Company considers a loan to have defaulted when it becomes 90 days or more delinquent under the modified terms, has been transferred to nonaccrual status, or has been transferred to other real estate owned. For loans measured based on the present value of expected future cash flows, $21,000 and $27,000 for the three months ended June 30, 2020, and 2019, respectively, and $46,000 and $62,000 for the six months ended June 30, 2020, and 2019, respectively, was included in interest income and represents the change in present value attributable to the passage of time.

Allowance for Credit Losses

Allowance for Credit Losses6 Months Ended
Jun. 30, 2020
Receivables [Abstract]
Allowance for Credit LossesAllowance for Credit Losses Activity in the allowance for credit losses is summarized as follows: Three Months Ended June 30, 2020 (In thousands) Beginning Provision Charge- Recoveries TDR Ending Construction and land development $ 4,646 $ 2,478 $ — $ 37 $ — $ 7,161 Commercial real estate - owner-occupied 5,327 229 — 18 (12) 5,562 Commercial real estate - non owner-occupied 35,643 3,345 — 4 — 38,992 Residential real estate 19,899 574 (113) 101 (8) 20,453 Commercial and financial 15,470 1,319 (1,768) 493 — 15,514 Consumer 4,426 (334) (614) 91 (1) 3,568 Paycheck Protection Program — — — — — — Totals $ 85,411 $ 7,611 $ (2,495) $ 744 $ (21) $ 91,250 Three Months Ended June 30, 2019 (In thousands) Beginning Provision Charge- Recoveries TDR Ending Construction and land development $ 2,320 $ (79) $ (1) $ 3 $ — $ 2,243 Commercial real estate 11,753 (433) — 565 (15) 11,870 Residential real estate 7,445 51 (28) 51 (11) 7,508 Commercial and financial 8,573 2,114 (1,881) 106 — 8,912 Consumer 2,731 898 (734) 78 (1) 2,972 Totals $ 32,822 $ 2,551 $ (2,644) $ 803 $ (27) $ 33,505 Six Months Ended June 30, 2020 (In thousands) Beginning Impact of Adoption of ASC 326 Initial Allowance on PCD Loans Acquired During the Period Provision Charge- Recoveries TDR Ending Construction and land development $ 1,842 $ 1,479 $ 48 $ 3,727 $ — $ 66 $ (1) $ 7,161 Commercial real estate - owner-occupied 5,361 80 207 (34) (45) 18 (25) 5,562 Commercial real estate - non owner-occupied 7,863 9,341 140 21,628 (12) 32 — 38,992 Residential real estate 7,667 5,787 97 6,834 (131) 218 (19) 20,453 Commercial and financial 9,716 3,677 11 4,063 (2,866) 913 — 15,514 Consumer 2,705 862 13 906 (1,087) 170 (1) 3,568 Paycheck Protection Program — — — — — — — — Totals $ 35,154 $ 21,226 $ 516 $ 37,124 $ (4,141) $ 1,417 $ (46) $ 91,250 Six Months Ended June 30, 2019 (In thousands) Beginning Balance Provision for Loan Losses Charge- Offs Recoveries TDR Allowance Adjustments Ending Balance Construction and land development $ 2,233 $ 4 $ — $ 7 $ (1) $ 2,243 Commercial real estate 11,112 192 (16) 612 (30) 11,870 Residential real estate 7,775 (363) (65) 190 (29) 7,508 Commercial and financial 8,585 2,967 (2,825) 185 — 8,912 Consumer 2,718 1,148 (1,217) 325 (2) 2,972 Totals $ 32,423 $ 3,948 $ (4,123) $ 1,319 $ (62) $ 33,505 Management establishes the allowance using relevant available information from both internal and external sources, relating to past events, current conditions, and reasonable and supportable forecasts to project losses over a three-year forecast period. Forecast data is sourced primarily from Moody’s Analytics, a firm widely recognized for its research, analysis, and economic forecasts. For portfolio segments with a weighted average life longer than three years, the Company reverts to longer-term historical loss experience to estimate losses over the remaining life of the loans within each segment. Historical credit losses provide the basis for the estimation of expected credit losses. Adjustments to historical loss information are made for differences in current loan-specific risk characteristics such as differences in underwriting standards, portfolio mix, delinquency level, loan to value ratios, borrower credit characteristics, loan seasoning or term as well as for changes in current and forecasted environmental conditions, such as changes in unemployment rates, property values, occupancy rates, and other macroeconomic metrics. As of June 30, 2020, the Company utilized Moody’s most recent “U.S. Macroeconomic Outlook Baseline” scenario and considered the significant uncertainty associated with the assumptions in the Baseline scenario, including, the resurgence of virus infections in Florida and other states beginning late in the second quarter, and the resulting potential for renewed stay-at-home orders and other limitations on businesses. The Company also considered the amount and availability of fiscal stimulus, including programs offered under the CARES Act and other potential future government programs and actions. Outcomes in any or all of these factors could differ from the Baseline scenario, and the Company incorporated qualitative considerations reflecting the risk of uncertain, and possibly further deteriorating, economic conditions, and for additional dimensions of risk not captured in the quantitative model. In the Construction and Land Development segment, the increase in loss estimate during the quarter was affected by both the increase in Baseline scenario forecast from the prior period and qualitative adjustments relating to the uncertainty of economic conditions. In this segment, the primary source of repayment is typically from proceeds of the sale, refinancing, or permanent financing of the underlying property; therefore, industry and collateral type and estimated collateral values are among the relevant factors in assessing expected losses. In the Commercial Real Estate - Owner-Occupied segment, risk characteristics include but are not limited to, collateral type, loan seasoning, and lien position. The introduction of government-sponsored programs, including the CARES Act, and the Company's expectation that borrowers in this segment will benefit from these programs, offset the otherwise detrimental effect of the negative economic outlook. In the Commercial Real Estate - Non Owner-Occupied segment, repayment is often dependent upon rental income from the successful operation of the underlying property. Loan performance may be adversely affected by general economic conditions or conditions specific to the real estate market, including property types. Collateral type, loan seasoning, and lien position are among the risk characteristics analyzed for this segment. Modeled results as of June 30, 2020 reflected higher estimated probabilities of default and loss given default, in addition to qualitative adjustments for the uncertainty of macroeconomic factors. The Residential Real Estate segment includes first mortgages secured by residential property, and home equity lines of credit. Risk characteristics considered for this segment include, but are not limited to, collateral type, lien position loan to value ratios, and loan seasoning. The impact of the forecast on home equity lines of credit increased the estimated expected losses in this segment, while closed-end single-family mortgages were less impacted due to anticipated government stimulus efforts and high borrower FICO scores. In the Commercial and Financial segment, borrowers are primarily small to medium sized professional firms and other businesses, and loans are generally supported by projected cash flows of the business, collateralized by business assets, and/or guaranteed by the business owners. Industry, collateral type, estimated collateral values and loan seasoning are among the relevant factors in assessing expected losses. The impact on the reserve of lower outstanding balances at June 30, 2020 compared to March 31, 2020 was more than offset by increases due to the negative economic outlook, in addition to qualitative factors added to consider significant economic uncertainty. Consumer loans include installment and revolving lines, loans for automobiles, boats, and other personal or family purposes. Risk characteristics considered for this segment include, but are not limited to, collateral type, loan to value ratios, loan seasoning and FICO score. A decrease in the reserve resulted from the expected beneficial impact of individual government stimulus programs, partially offset by an increase in the forecast for expected unemployment rates. Balances outstanding under the Paycheck Protection Program are guaranteed by the U.S. government and have not been assigned a reserve. The allowance for credit losses is composed of specific allowances for loans individually evaluated and general allowances for loans grouped into loan pools based on similar characteristics, which are collectively evaluated. The Company’s loan portfolio and related allowance at June 30, 2020 and December 31, 2019 is shown in the following tables: June 30, 2020 Individually Evaluated Collectively Evaluated Total (In thousands) Recorded Associated Recorded Associated Recorded Associated Construction and land development $ 726 $ 20 $ 298,109 $ 7,141 $ 298,835 $ 7,161 Commercial real estate - owner-occupied 4,491 160 1,072,159 5,402 1,076,650 5,562 Commercial real estate - non owner-occupied 7,883 254 1,384,904 38,738 1,392,787 38,992 Residential real estate 18,216 1,071 1,449,955 19,382 1,468,171 20,453 Commercial and financial 9,822 3,628 747,410 11,886 757,232 15,514 Consumer 681 107 201,246 3,461 201,927 3,568 Paycheck Protection Program — — 576,450 — 576,450 — Totals $ 41,819 $ 5,240 $ 5,730,233 $ 86,010 $ 5,772,052 $ 91,250 December 31, 2019 Individually Evaluated Collectively Evaluated Total (In thousands) Recorded Associated Recorded Associated Recorded Associated Construction and land development $ 5,217 $ 14 $ 319,896 $ 1,828 $ 325,113 $ 1,842 Commercial real estate 20,484 220 2,358,487 13,004 2,378,971 13,224 Residential real estate 16,093 834 1,491,770 6,833 1,507,863 7,667 Commercial and financial 6,631 1,731 771,621 7,985 778,252 9,716 Consumer 337 59 207,868 2,646 208,205 2,705 Totals $ 48,762 $ 2,858 $ 5,149,642 $ 32,296 $ 5,198,404 $ 35,154

Securities Sold Under Agreement

Securities Sold Under Agreements to Repurchase6 Months Ended
Jun. 30, 2020
Brokers and Dealers [Abstract]
Securities Sold Under Agreements to RepurchaseSecurities Sold Under Agreements to Repurchase Securities sold under agreements to repurchase are accounted for as secured borrowings. For securities sold under agreements to repurchase, the Company is required to pledge collateral with value sufficient to fully collateralized borrowings. Company securities pledged were as follows by collateral type and maturity as of: (In thousands) June 30, 2020 December 31, 2019 Fair value of pledged securities - overnight and continuous: Mortgage-backed securities and collateralized mortgage obligations of U.S. government sponsored entities $ 97,344 $ 94,354

Noninterest Income and Expense

Noninterest Income and Expense6 Months Ended
Jun. 30, 2020
Brokers and Dealers [Abstract]
Noninterest Income and ExpenseNoninterest Income and Expense Details of noninterest income and expenses for the three and six months ended June 30, 2020 and 2019 are as follows: Three Months Ended June 30, Six Months Ended June 30, (In thousands) 2020 2019 2020 2019 Noninterest income Service charges on deposit accounts $ 1,939 $ 2,894 $ 4,764 $ 5,591 Interchange income 3,187 3,405 6,433 6,806 Wealth management income 1,719 1,688 3,586 3,141 Mortgage banking fees 3,559 1,734 5,767 2,849 Marine finance fees 157 201 303 563 SBA gains 181 691 320 1,327 BOLI income 887 927 1,773 1,842 Other income 2,147 2,503 5,499 4,769 13,776 14,043 28,445 26,888 Securities gains (losses), net 1,230 (466) 1,249 (475) Total $ 15,006 $ 13,577 $ 29,694 $ 26,413 Noninterest expense Salaries and wages $ 20,226 $ 19,420 $ 43,924 $ 37,926 Employee benefits 3,379 3,195 7,634 7,401 Outsourced data processing costs 4,059 3,876 8,692 7,721 Telephone/data lines 791 893 1,505 1,704 Occupancy 3,385 3,741 6,738 7,548 Furniture and equipment 1,358 1,544 2,981 3,301 Marketing 997 1,211 2,275 2,343 Legal and professional fees 2,277 2,033 5,640 4,880 FDIC assessments 266 337 266 825 Amortization of intangibles 1,483 1,456 2,939 2,914 Foreclosed property expense and net loss (gain) on sale 245 (174) (70) (214) Other 3,933 3,468 7,673 7,750 Total $ 42,399 $ 41,000 $ 90,197 $ 84,099

Equity Capital

Equity Capital6 Months Ended
Jun. 30, 2020
Equity [Abstract]
Equity CapitalEquity CapitalThe Company is well capitalized and at June 30, 2020, the Company and the Company’s principal banking subsidiary, Seacoast Bank, exceeded the common equity Tier 1 (CET1) capital ratio regulatory threshold of 6.5% for well-capitalized institutions under the Basel III standardized transition approach, as well as risk-based and leverage ratio requirements for well capitalized banks under the regulatory framework for prompt corrective action.

Contingent Liabilities

Contingent Liabilities6 Months Ended
Jun. 30, 2020
Commitments and Contingencies Disclosure [Abstract]
Contingent LiabilitiesContingent LiabilitiesThe Company and its subsidiaries, because of the nature of their business, are at all times subject to numerous legal actions, threatened or filed. Management presently believes that none of the legal proceedings to which it is a party are likely to have a materially adverse effect on the Company’s consolidated financial condition, operating results or cash flows.

Fair Value

Fair Value6 Months Ended
Jun. 30, 2020
Fair Value Disclosures [Abstract]
Fair ValueFair Value Under ASC Topic 820, fair value measurements for items measured at fair value on a recurring and nonrecurring basis at June 30, 2020 and December 31, 2019 included: (In thousands) Fair Value Quoted Prices Significant Significant June 30, 2020 Available for sale debt securities 1 $ 976,025 $ 102 $ 975,923 $ — Loans held for sale 2 54,943 — 54,943 — Loans 3 7,974 — 1,448 6,526 Other real estate owned 4 15,847 — 2,368 13,479 Equity securities 5 6,548 6,548 — — December 31, 2019 Available for sale debt securities 1 $ 946,855 $ 100 $ 946,755 $ — Loans held for sale 2 20,029 — 20,029 — Loans 3 5,123 — 1,419 3,704 Other real estate owned 4 12,390 — 241 12,149 Equity securities 5 6,392 6,392 — — 1 See Note D for further detail of fair value of individual investment categories. 2 Recurring fair value basis determined using observable market data. 3 See Note E. Nonrecurring fair value adjustments to loans identified as impaired reflect full or partial write-downs that are based on the loan’s observable market price or current appraised value of the collateral in accordance with ASC Topic 310. 4 Fair value is measured on a nonrecurring basis in accordance with ASC Topic 360. 5 An investment in shares of a mutual fund that invests primarily in CRA-qualified debt securities, reported at fair value in Other Assets. Recurring fair value basis is determined using market quotations. Available for sale debt securities : U.S. Treasury securities are reported at fair value utilizing Level 1 inputs. Other securities are reported at fair value utilizing Level 2 inputs. The estimated fair value of a security is determined based on market quotations when available or, if not available, by using quoted market prices for similar securities, pricing models or discounted cash flow analyses, using observable market data where available. The Company reviews the prices supplied by independent pricing services, as well as their underlying pricing methodologies, for reasonableness and to ensure such prices are aligned with traditional pricing matrices. The fair value of collateralized loan obligations is determined from broker quotes. From time to time, the Company will validate, on a sample basis, prices supplied by the independent pricing service by comparison to prices obtained from other brokers and third-party sources or derived using internal models. Loans held for sale : Fair values are based upon estimated values to be received from independent third party purchasers. These loans are intended for sale and the Company believes that the fair value is the best indicator of the resolution of these loans. Interest income is recorded based on the contractual terms of the loan and in accordance with the Company’s policy on loans held for investment. None of the loans were 90 days or more past due or on non accrual as of June 30, 2020 and December 31, 2019. The aggregate fair value and contractual balance of loans held for sale as of June 30, 2020 and December 31, 2019 is as follows: (In thousands) June 30, 2020 December 31, 2019 Aggregate fair value $ 54,943 $ 20,029 Contractual balance 53,556 19,445 Excess 1,387 584 Loans : Level 2 loans consist of impaired real estate loans which are collateral dependent. Fair value is based on recent real estate appraisals less estimated costs of sale. For residential real estate impaired loans, appraised values or internal evaluations are based on the comparative sales approach. Level 3 loans consist of commercial and commercial real estate impaired loans. For these loans evaluations may use either a single valuation approach or a combination of approaches, such as comparative sales, cost and/or income approach. A significant unobservable input in the income approach is the estimated capitalization rate for a given piece of collateral. At June 30, 2020, the capitalization rates utilized to determine fair value of the underlying collateral averaged approximately 7.4%. Adjustments to comparable sales may be made by an appraiser to reflect local market conditions or other economic factors and may result in changes in the fair value of an asset over time. As such, the fair value of these impaired loans is considered level 3 in the fair value hierarchy. Impaired loans measured at fair value total $8.0 million with a specific reserve of $5.2 million at June 30, 2020, compared to $5.1 million with a specific reserve of $2.9 million at December 31, 2019. For loans classified as level 3, changes included loan additions of $5.0 million offset by paydowns and charge-offs of $2.2 million for the six months ended June 30, 2020. Other real estate owned : When appraisals are used to determine fair value and the appraisals are based on a market approach, the fair value of other real estate owned (“OREO”) is classified as a level 2 input. When the fair value of OREO is based on appraisals which require significant adjustments to market-based valuation inputs or apply an income approach based on unobservable cash flows, the fair value of OREO is classified as level 3. For OREO classified as level 3 during the six months ended June 30, 2020, changes included additions of foreclosed loans of $5.1 million offset by sales of $3.8 million. Transfers between levels of the fair value hierarchy are recognized on the actual date of the event or circumstances that caused the transfer, which generally coincides with the Company’s monthly and/or quarter-end valuation process. There were no such transfers for loans and OREO classified as level 3 during the six months ended June 30, 2020 and 2019. The carrying amount and fair value of the Company’s other financial instruments that were not disclosed previously in the balance sheet and for which carrying amount is not fair value as of June 30, 2020 and December 31, 2019 is as follows: (In thousands) Carrying Amount Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs June 30, 2020 Financial Assets Debt securities held-to-maturity 1 $ 227,092 $ — $ 235,946 $ — Time deposits with other banks 2,496 — — 2,530 Loans, net 5,672,828 — — 5,770,882 Financial Liabilities Deposit liabilities 6,666,783 — — 6,673,509 Federal Home Loan Bank (FHLB) borrowings 135,000 — — 134,782 Subordinated debt 71,225 — 64,143 — December 31, 2019 Financial Assets Debt securities held-to-maturity 1 $ 261,369 $ — $ 262,213 $ — Time deposits with other banks 3,742 — — 3,744 Loans, net 5,158,127 — — 5,139,491 Financial Liabilities Deposit liabilities 5,584,753 — — 5,584,621 Federal Home Loan Bank (FHLB) borrowings 315,000 — — 314,995 Subordinated debt 71,085 — 64,017 — 1 See Note D for further detail of individual investment categories. The short maturity of Seacoast’s assets and liabilities results in having a significant number of financial instruments whose fair value equals or closely approximates carrying value. Such financial instruments are reported in the following balance sheet captions: cash and due from banks, interest bearing deposits with other banks, and securities sold under agreements to repurchase, maturing within 30 days. The following methods and assumptions were used to estimate the fair value of each class of financial instrument for which it is practicable to estimate that value at June 30, 2020 and December 31, 2019: Held to maturity debt securities : These debt securities are reported at fair value utilizing level 2 inputs. The estimated fair value of a security is determined based on market quotations when available or, if not available, by using quoted market prices for similar securities, pricing models or discounted cash flow analyses, using observable market data where available. The Company reviews the prices supplied by independent pricing services, as well as their underlying pricing methodologies, for reasonableness and to ensure such prices are aligned with traditional pricing matrices. From time to time, the Company will validate, on a sample basis, prices supplied by the independent pricing service by comparison to prices obtained from other brokers and third-party sources or derived using internal models. Loans : Fair values are estimated for portfolios of loans with similar financial characteristics. Loans are segregated by type, such as commercial or mortgage. Each loan category is further segmented into fixed and adjustable-rate interest terms as well as performing and nonperforming categories. The fair value of loans is calculated by discounting scheduled cash flows through the estimated life including prepayment considerations, using estimated market discount rates that reflect the risks inherent in the loan. The fair value approach considers market-driven variables including credit related factors and reflects an “exit price” as defined in ASC Topic 820. Deposit liabilities : The fair value of demand deposits, savings accounts and money market deposits is the amount payable at the reporting date. The fair value of fixed maturity certificates of deposit is estimated using the rates currently offered for funding of similar remaining maturities.

Business Combinations

Business Combinations6 Months Ended
Jun. 30, 2020
Business Combinations [Abstract]
Business CombinationsBusiness Combinations Acquisition of First Bank of the Palm Beaches On March 13, 2020, the Company completed its acquisition of First Bank of the Palm Beaches (“FBPB”). FBPB was merged with and into Seacoast Bank. FBPB operated two branches in the Palm Beach market. As a result of this acquisition, the Company expects to enhance its presence in the Palm Beach market, expand its customer base and leverage operating cost through economies of scale, and positively affect the Company’s operating results. The Company acquired 100% of the outstanding common stock of FBPB. Under the terms of the definitive agreement, each share of FBPB common stock was converted into the right to receive 0.2000 shares of Seacoast common stock. (In thousands, except per share data) March 13, 2020 Number of FBPB common shares outstanding 5,213 Per share exchange ratio 0.2000 Number of shares of common stock issued 1,043 Multiplied by common stock price per share on March 13, 2020 $ 20.17 Value of common stock issued 21,031 Cash paid for FBPB vested stock options 866 Total purchase price $ 21,897 The acquisition of FBPB was accounted for under the acquisition method in accordance with ASC Topic 805, Business Combinations . The Company recognized goodwill of $6.9 million for this acquisition that is nondeductible for tax purposes. Determining fair values of assets and liabilities, especially the loan portfolio, core deposit intangibles, and deferred taxes, is a complicated process involving significant judgment regarding methods and assumptions used to calculate estimated fair values. The fair values initially assigned to assets acquired and liabilities assumed are preliminary and could change for up to one year after the closing date of the acquisition as new information and circumstances relative to closing date fair values becomes known. (In thousands) Initially Measured Measurement Period Adjustments As Adjusted March 13, 2020 Assets: Cash $ 34,749 $ — $ 34,749 Investment securities 447 — 447 Loans 146,839 (62) 146,777 Bank premises and equipment 6,086 — 6,086 Core deposit intangibles 819 — 819 Goodwill 6,799 62 6,861 Other assets 1,285 20 1,305 Total assets $ 197,024 $ 20 $ 197,044 Liabilities: Deposits $ 173,741 $ — $ 173,741 Other liabilities 1,386 20 1,406 Total liabilities $ 175,127 $ 20 $ 175,147 The table below presents information with respect to the fair value and unpaid principal balance of acquired loans at the acquisition date. March 13, 2020 (In thousands) Book Balance Fair Value Loans: Construction and land development $ 9,493 $ 9,012 Commercial real estate - owner-occupied 46,221 45,171 Commercial real estate - non owner-occupied 36,268 35,079 Residential real estate 47,569 47,043 Commercial and financial 9,659 9,388 Consumer 1,132 1,084 Total acquired loans $ 150,342 $ 146,777 The table below presents the carrying amount of loans for which, at the date of acquisition, there was evidence of more than insignificant deterioration of credit quality since origination: (In thousands) March 13, 2020 Book balance of loans at acquisition $ 43,682 Allowance for credit losses at acquisition (516) Non-credit related discount (128) Total PCD loans acquired $ 43,038 The Company believes the deposits assumed in the acquisition have an intangible value. In determining the valuation amount, deposits were analyzed based on factors such as type of deposit, deposit retention, interest rates and age of deposit relationships. Pro-Forma Information Pro-forma data for the three and six months ended June 30, 2020 presents information as if the acquisition of FBPB occurred at the beginning of 2019, as follows: Three Months Ended June 30, 2020 Six Months Ended June 30, 2020 (In thousands, except per share amounts) 2020 2019 2020 2019 Net interest income 1 $ 67,272 $ 61,879 $ 131,887 $ 124,417 Net income 25,080 23,966 27,526 45,378 EPS - basic $ 0.47 $ 0.46 $ 0.52 $ 0.87 EPS - diluted 0.47 0.45 0.52 0.86 1 The provision for credit losses of $1.8 million recorded under CECL at the time of acquisition has been excluded from the pro forma information above, which presents information as if the acquisition had occurred on January 1, 2019, prior to the Company's adoption of CECL. Proposed Acquisition of Fourth Street Banking Company

Basis of Presentation (Policies

Basis of Presentation (Policies)6 Months Ended
Jun. 30, 2020
Accounting Policies [Abstract]
Basis of PresentationBasis of Presentation: The accompanying unaudited condensed consolidated financial statements of Seacoast Banking Corporation of Florida and its subsidiaries (the "Company") have been prepared in accordance with U.S. generally accepted accounting principles ("U.S. GAAP") for interim financial information and with the instructions to Form 10-Q and Rule 10-01 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. Certain prior period amounts have been reclassified to conform to the current period presentation.
Use of EstimatesUse of Estimates: The preparation of these condensed consolidated financial statements requires management to make judgments in the application of certain of its accounting policies that involve significant estimates and assumptions. The Company has established policies and control procedures that are intended to ensure valuation methods are well controlled and applied consistently from period to period. These estimates and assumptions, which may materially affect the reported amounts of certain assets, liabilities, revenues and expenses, are based on information available as of the date of the financial statements, and changes in this information over time and the use of revised estimates and assumptions could materially affect amounts reported in subsequent financial statements. Specific areas, among others, requiring the application of management’s estimates include determination of the allowance for credit losses, acquisition accounting and purchased loans, intangible assets and impairment testing, other fair value adjustments, income taxes and realization of deferred tax assets and contingent liabilities.
Adoption of New Accounting Pronouncements and Recently Issued Accounting Standards, Not Yet AdoptedAdoption of new accounting pronouncements: On January 1, 2020, the Company adopted Financial Accounting Standards Board ("FASB") Accounting Standards Codification Topic 326 Financial Instruments - Credit Losses ("ASC Topic 326") which replaces the incurred loss methodology with an expected loss methodology that is referred to as the current expected credit loss ("CECL") methodology. The measurement of expected credit losses under the CECL methodology is applicable to financial assets measured at amortized cost, including loan receivables and held-to-maturity ("HTM") debt securities. It also applies to off-balance sheet credit exposure such as loan commitments, standby letters of credit, financial guarantees and other similar instruments. In addition, ASC Topic 326 changed the accounting for impairment of available-for-sale ("AFS") debt securities. The Company adopted ASC Topic 326 using the modified retrospective method for all financial assets measured at amortized cost and off-balance sheet credit exposures. Results for the reporting period beginning after January 1, 2020 are presented under ASC Topic 326, while prior period amounts continue to be reported in accordance with previously applicable GAAP. The following table reflects the cumulative effect of adoption: (in thousands) December 31, 2019 CECL adoption impact January 1, 2020 Loans $ 5,198,404 $ (706) $ 5,197,698 Allowance for credit losses 35,154 21,226 56,380 Reserve for unfunded commitments 140 1,837 1,977 Deferred tax assets 16,457 (5,481) 10,976 Retained earnings 195,813 (16,876) 178,937 ASC Topic 326 introduced new definitions and criteria for categorizing purchased loans. Loans that, as of the date of acquisition, have experienced a more-than-insignificant deterioration in credit quality since origination are classified as purchased credit deteriorated ("PCD"). Acquired loans which do not meet the definition of PCD are classified by the Company as acquired Non-PCD. At the date of adoption, the Company reclassified all loans previously classified as purchased credit impaired ("PCI") to PCD, and increased the allowance by $0.7 million with a corresponding adjustment to these loans' amortized cost basis. The remaining noncredit discount on loans previously classified as PCI was $0.9 million, which will be accreted into interest income over the remaining life of the loans. Under CECL, the Company estimates the allowance using relevant available information, from both internal and external sources, relating to past events, current conditions, and reasonable and supportable forecasts. Historical credit losses provide the basis for the estimation of expected credit losses. Adjustments to historical loss information are made for differences in current loan-specific risk characteristics such as differences in underwriting standards, portfolio mix, delinquency level, loan to value ratios, borrower credit characteristics, loan seasoning or term as well as for changes in environmental conditions, such as changes in unemployment rates, property values, occupancy rates, and other macroeconomic metrics. For loans analyzed on a collective basis, the Company has developed an allowance model based on an analysis of the probability of default ("PD") and loss given default ("LGD") to determine an expected loss by loan segment. PDs and LGDs are developed by analyzing the average historical loss migration of loans to default. The Company excludes accrued interest on loans from its determination of allowance. The allowance estimation process also applies an economic forecast scenario over a three year forecast period. The forecast may utilize one scenario or a composite of scenarios based on management's judgment and expectations around the current and future macroeconomic outlook. Expected credit losses are estimated over the contractual term of the loans, adjusted for expected prepayments when appropriate. The contractual term excludes expected extensions, renewals, and modification unless either of the following applies: management has a reasonable expectation at the reporting date that a troubled debt restructuring ("TDR") will be executed with an individual borrower, or the extension or renewal options are explicitly stated in the contract and are not unconditionally under the control of the Company. For portfolio segments with a weighted average life longer than three years, the Company reverts to longer-term historical loss experience, adjusted for prepayments, to estimate losses over the remaining life of the loans within each segment. Adjustments may be made to baseline reserves based on an assessment of internal and external influences on credit quality not fully reflected in the quantitative components of the allowance model. These influences may include elements such as changes in concentration, macroeconomic conditions, recent observable asset quality trends, staff turnover, regional market conditions, employment levels and loan growth. Based on management's assessments of these factors, the Company may apply qualitative adjustments to the allowance. Loans that do not share risk characteristics are evaluated on an individual basis. Loans evaluated individually are not also included in the collective evaluation. Loans evaluated individually are collateral dependent and primarily secured by real estate. When management determines that foreclosure is probable, expected credit losses are based on the fair value of the collateral at the reporting date, adjusted for selling costs as appropriate. In response to the COVID-19 pandemic beginning in early 2020, rules defined in the Coronavirus Aid, Relief and Economic Security ("CARES") Act and a joint statement issued by federal regulators in consultation with FASB provide financial institutions with the option not to apply troubled debt restructure ("TDR") accounting to eligible loan modifications provided to borrowers affected by COVID-19 pandemic. See Note E - Loans for information on loan modifications offered by the Company under this guidance. Outside of this guidance, a loan for which the terms have been modified resulting in a concession, and for which the borrower is experiencing financial difficulty, is considered to be a TDR. The allowance for credit losses on a TDR is measured using the same method as all other loans held for investment, except when the value of a concession cannot be measured using a method other than the discounted cash flow method. When the value of a concession is measured using the discounted cash flow method, the allowance for credit losses is determined by discounting the expected future cash flows at the original interest rate of the loan. The Company estimates a reserve for unfunded commitments, which is reported separately from the allowance for credit losses within other liabilities. The reserve is based upon the same quantitative and qualitative factors applied to the collectively evaluated loan portfolio. All HTM debt securities are issued by government-sponsored entities, which are either explicitly or implicitly guaranteed by the U.S. government and have a long history of no credit losses. In addition, the credit rating on all the Company's HTM debt securities as of the date of adoption is AA+. There is no history of the government withholding or limiting support to these agencies, nor is there any indication of a change to that historical support. While the potential for default on these securities may be something greater than zero, the long history with no credit losses, the implied government guarantee of principal and interest payments and the high credit rating of the HTM portfolio provide sufficient basis for the current expectation that there is zero risk of loss if default were to occur. As a result, the Company recorded no allowance for HTM debt securities with fair value less than amortized cost basis at the date of adoption. ASC Topic 326 amended the existing other-than-temporary-impairment guidance for AFS securities, requiring credit losses to be recorded as an allowance rather than through a permanent write-down. When evaluating AFS debt securities under ASC Topic 326, the Company has evaluated whether the decline in fair value is attributed to credit losses or other factors using both quantitative and qualitative analyses, including cash flow analysis, review of credit ratings, remaining payment terms, prepayment speeds and analysis of macro-economic conditions. At the date of adoption, collateralized loan obligations had unrealized losses of $1.2 million. The collateral for these securities is first lien senior secured corporate debt, and the Company holds senior tranches rated A or higher. Based on this analysis, the Company believes that the unrealized loss position for AFS debt securities at the time of adoption was the result of both broad investment type spreads and the current rate environment. Each investment is expected to recover its price depreciation over its holding period as it moves to maturity and the Company has the intent and ability to hold these securities to maturity if necessary. As a result of this evaluation, the Company concluded that no allowance was appropriate. In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform (Topic 848) . The guidance provides accounting relief to contract modifications that replace an interest rate impacted by reference rate reform (e.g. London Inter-Bank Offered Rate ("LIBOR")) with a new alternative reference rate. The guidance is applicable to investment securities, receivables, loans, debt, leases, derivatives and hedge accounting elections, and other contractual arrangements. The Company applied the guidance prospectively beginning April 1, 2020, with no material impact on the financial position, results of operations or cash flows.
Fair Value MeasurementHeld to maturity debt securities : These debt securities are reported at fair value utilizing level 2 inputs. The estimated fair value of a security is determined based on market quotations when available or, if not available, by using quoted market prices for similar securities, pricing models or discounted cash flow analyses, using observable market data where available. The Company reviews the prices supplied by independent pricing services, as well as their underlying pricing methodologies, for reasonableness and to ensure such prices are aligned with traditional pricing matrices. From time to time, the Company will validate, on a sample basis, prices supplied by the independent pricing service by comparison to prices obtained from other brokers and third-party sources or derived using internal models. Loans : Fair values are estimated for portfolios of loans with similar financial characteristics. Loans are segregated by type, such as commercial or mortgage. Each loan category is further segmented into fixed and adjustable-rate interest terms as well as performing and nonperforming categories. The fair value of loans is calculated by discounting scheduled cash flows through the estimated life including prepayment considerations, using estimated market discount rates that reflect the risks inherent in the loan. The fair value approach considers market-driven variables including credit related factors and reflects an “exit price” as defined in ASC Topic 820. Deposit liabilities : The fair value of demand deposits, savings accounts and money market deposits is the amount payable at the reporting date. The fair value of fixed maturity certificates of deposit is estimated using the rates currently offered for funding of similar remaining maturities.

Basis of Presentation (Tables)

Basis of Presentation (Tables)6 Months Ended
Jun. 30, 2020
Accounting Policies [Abstract]
Schedule of Cumulative Effect AdjustmentThe following table reflects the cumulative effect of adoption: (in thousands) December 31, 2019 CECL adoption impact January 1, 2020 Loans $ 5,198,404 $ (706) $ 5,197,698 Allowance for credit losses 35,154 21,226 56,380 Reserve for unfunded commitments 140 1,837 1,977 Deferred tax assets 16,457 (5,481) 10,976 Retained earnings 195,813 (16,876) 178,937

Earnings per Share (Tables)

Earnings per Share (Tables)6 Months Ended
Jun. 30, 2020
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and DilutedThree Months Ended June 30, Six Months Ended June 30, (Dollars in thousands, except per share data) 2020 2019 2020 2019 Basic earnings per share Net income $ 25,080 $ 23,253 $ 25,789 $ 45,958 Average common shares outstanding 52,985 51,446 52,394 51,403 Net income per share $ 0.47 $ 0.45 $ 0.49 $ 0.89 Diluted earnings per share Net income $ 25,080 $ 23,253 $ 25,789 $ 45,958 Average common shares outstanding 52,985 51,446 52,394 51,403 Add: Dilutive effect of employee restricted stock and stock options 323 506 413 595 Average diluted shares outstanding 53,308 51,952 52,807 51,998 Net income per share $ 0.47 $ 0.45 $ 0.49 $ 0.88

Securities (Tables)

Securities (Tables)6 Months Ended
Jun. 30, 2020
Investments, Debt and Equity Securities [Abstract]
Summary of Amortized Cost and Fair Value of Securities Available for SaleThe amortized cost, gross unrealized gains and losses and fair value of securities available-for-sale and held-to-maturity at June 30, 2020 and December 31, 2019 are summarized as follows: June 30, 2020 (In thousands) Amortized Gross Gross Unrealized Fair Debt securities available-for-sale U.S. Treasury securities and obligations of U.S. government agencies $ 8,981 $ 418 $ (1) $ 9,398 Mortgage-backed securities and collateralized mortgage obligations of U.S. government-sponsored entities 636,528 24,747 (90) 661,185 Private mortgage-backed securities and collateralized mortgage obligations 75,756 1,645 (550) 76,851 Collateralized loan obligations 204,258 3 (5,444) 198,817 Obligations of state and political subdivisions 27,819 1,958 (3) 29,774 Totals $ 953,342 $ 28,771 $ (6,088) $ 976,025 Debt securities held-to-maturity Mortgage-backed securities of U.S. government-sponsored entities $ 227,092 $ 8,860 $ (6) $ 235,946 Totals $ 227,092 $ 8,860 $ (6) $ 235,946 December 31, 2019 (In thousands) Amortized Gross Unrealized Gross Unrealized Fair Debt securities available-for-sale U.S. Treasury securities and obligations of U.S. government agencies $ 9,914 $ 204 $ (4) $ 10,114 Mortgage-backed securities and collateralized mortgage obligations of U.S. government-sponsored entities 604,934 5,784 (1,511) 609,207 Private mortgage-backed securities and collateralized mortgage obligations 56,005 1,561 (5) 57,561 Collateralized loan obligations 239,364 7 (1,153) 238,218 Obligations of state and political subdivisions 30,548 1,208 (1) 31,755 Totals $ 940,765 $ 8,764 $ (2,674) $ 946,855 Debt securities held-to-maturity Mortgage-backed securities of U.S. government-sponsored entities 261,369 2,717 (1,873) 262,213 Totals $ 261,369 $ 2,717 $ (1,873) $ 262,213
Summary of Amortized Cost and Fair Value of Held-to-Maturity SecuritiesThe amortized cost, gross unrealized gains and losses and fair value of securities available-for-sale and held-to-maturity at June 30, 2020 and December 31, 2019 are summarized as follows: June 30, 2020 (In thousands) Amortized Gross Gross Unrealized Fair Debt securities available-for-sale U.S. Treasury securities and obligations of U.S. government agencies $ 8,981 $ 418 $ (1) $ 9,398 Mortgage-backed securities and collateralized mortgage obligations of U.S. government-sponsored entities 636,528 24,747 (90) 661,185 Private mortgage-backed securities and collateralized mortgage obligations 75,756 1,645 (550) 76,851 Collateralized loan obligations 204,258 3 (5,444) 198,817 Obligations of state and political subdivisions 27,819 1,958 (3) 29,774 Totals $ 953,342 $ 28,771 $ (6,088) $ 976,025 Debt securities held-to-maturity Mortgage-backed securities of U.S. government-sponsored entities $ 227,092 $ 8,860 $ (6) $ 235,946 Totals $ 227,092 $ 8,860 $ (6) $ 235,946 December 31, 2019 (In thousands) Amortized Gross Unrealized Gross Unrealized Fair Debt securities available-for-sale U.S. Treasury securities and obligations of U.S. government agencies $ 9,914 $ 204 $ (4) $ 10,114 Mortgage-backed securities and collateralized mortgage obligations of U.S. government-sponsored entities 604,934 5,784 (1,511) 609,207 Private mortgage-backed securities and collateralized mortgage obligations 56,005 1,561 (5) 57,561 Collateralized loan obligations 239,364 7 (1,153) 238,218 Obligations of state and political subdivisions 30,548 1,208 (1) 31,755 Totals $ 940,765 $ 8,764 $ (2,674) $ 946,855 Debt securities held-to-maturity Mortgage-backed securities of U.S. government-sponsored entities 261,369 2,717 (1,873) 262,213 Totals $ 261,369 $ 2,717 $ (1,873) $ 262,213
Summary of Investments Classified by Contractual MaturitySecurities not due at a single maturity date are shown separately. Held to Maturity Available-for-Sale (In thousands) Amortized Fair Amortized Fair Due in less than one year $ — $ — $ 2,100 $ 2,125 Due after one year through five years — — 8,655 9,063 Due after five years through ten years — — 8,577 9,200 Due after ten years — — 17,468 18,784 — — 36,800 39,172 Mortgage-backed securities and collateralized mortgage obligations of U.S. government-sponsored entities 227,092 235,946 636,528 661,185 Private mortgage-backed securities and collateralized mortgage obligations — — 75,756 76,851 Collateralized loan obligations — — 204,258 198,817 Totals $ 227,092 $ 235,946 $ 953,342 $ 976,025
Schedule of Debt Securities in Unrealized Loss PositionThe tables below indicate, at June 30, 2020, the fair value of available-for-sale debt securities with unrealized losses for which no allowance for credit losses has been recorded, and at December 31, 2019, the fair value of available-for-sale and held-to-maturity debt securities with unrealized losses for which no allowance has been recorded. June 30, 2020 Less Than 12 Months 12 Months or Longer Total (In thousands) Fair Unrealized Fair Unrealized Fair Unrealized U.S. Treasury securities and obligations of U.S. government agencies $ 269 (1) $ — $ — $ 269 $ (1) Mortgage-backed securities and collateralized mortgage obligations of U.S. government-sponsored entities 65,273 (74) 357 (16) 65,630 (90) Private mortgage-backed securities and collateralized mortgage obligations 24,532 (550) — — 24,532 (550) Collateralized loan obligations 84,299 (1,638) 108,609 (3,806) 192,908 (5,444) Obligations of state and political subdivisions 512 (3) — — 512 (3) Totals $ 174,885 $ (2,266) $ 108,966 $ (3,822) $ 283,851 $ (6,088) December 31, 2019 Less Than 12 Months 12 Months or Longer Total (In thousands) Fair Unrealized Fair Unrealized Fair Unrealized U.S. Treasury securities and obligations of U.S. government agencies $ 758 $ (4) $ — $ — $ 758 $ (4) Mortgage-backed securities and collateralized mortgage obligations of U.S. government-sponsored entities 220,057 (1,461) 104,184 (1,923) 324,241 (3,384) Private mortgage-backed securities and collateralized mortgage obligations 2,978 (5) — — 2,978 (5) Collateralized loan obligations 88,680 (570) 110,767 (583) 199,447 (1,153) Obligations of state and political subdivisions 515 (1) — — 515 (1) Totals $ 312,988 $ (2,041) $ 214,951 $ (2,506) $ 527,939 $ (4,547)

Loans (Tables)

Loans (Tables)6 Months Ended
Jun. 30, 2020
Receivables [Abstract]
Schedule of Portfolio Loans, Purchased Credit Impaired Loans and Purchased Unimpaired LoansThe following tables present net loan balances by segment as of: June 30, 2020 (In thousands) Portfolio Loans Acquired Non-PCD Loans PCD Loans Total Construction and land development $ 270,715 $ 25,691 $ 2,429 $ 298,835 Commercial real estate - owner-occupied 832,943 216,598 27,109 1,076,650 Commercial real estate - non owner-occupied 1,074,063 306,880 11,844 1,392,787 Residential real estate 1,249,368 210,247 8,556 1,468,171 Commercial and financial 692,933 63,272 1,027 757,232 Consumer 195,863 5,700 364 201,927 Paycheck Protection Program 576,450 — — 576,450 Totals $ 4,892,335 $ 828,388 $ 51,329 $ 5,772,052 December 31, 2019 (In thousands) Portfolio Loans PULs PCI Loans Total Construction and land development $ 281,335 $ 43,618 $ 160 $ 325,113 Commercial real estate 1 1,834,811 533,943 10,217 2,378,971 Residential real estate 1,304,305 201,848 1,710 1,507,863 Commercial and financial 697,301 80,372 579 778,252 Consumer 200,166 8,039 — 208,205 Totals $ 4,317,918 $ 867,820 $ 12,666 $ 5,198,404 1 Commercial real estate includes owner-occupied balances of $1.0 billion for December 31, 2019.
Schedule of Loans ModifiedThe following table presents loans on payment deferral, excluding PPP loans, as of June 30, 2020: (In thousands) Loans Outstanding % on Payment Deferral Construction and land development $ 14,488 5% Commercial real estate - owner-occupied 320,406 30% Commercial real estate - non owner-occupied 445,311 32% Residential real estate 148,035 10% Commercial and financial 130,877 17% Consumer 17,926 9% Totals $ 1,077,043 21%
Schedule of Past Due Financing ReceivablesThe following tables present the status of net loan balances as of June 30, 2020 and December 31, 2019. Loans on short-term payment deferral at the reporting date are reflected as current. June 30, 2020 (In thousands) Current Accruing Accruing Accruing Nonaccrual Total Portfolio Loans Construction and land development $ 270,070 $ — $ 623 $ — $ 22 $ 270,715 Commercial real estate - owner-occupied 829,903 — — 615 2,425 832,943 Commercial real estate - non owner-occupied 1,069,979 1,988 — — 2,096 1,074,063 Residential real estate 1,230,480 3,729 4,833 — 10,326 1,249,368 Commercial and financial 683,667 2,034 39 216 6,977 692,933 Consumer 195,246 169 46 — 402 195,863 Paycheck Protection Program 576,450 — — — — 576,450 Total Portfolio Loans 4,855,795 7,920 5,541 831 22,248 4,892,335 Acquired Non-PCD Loans Construction and land development 25,117 — — — 574 25,691 Commercial real estate - owner-occupied 213,731 1,526 — — 1,341 216,598 Commercial real estate - non owner-occupied 306,612 — — 268 — 306,880 Residential real estate 208,963 — — — 1,284 210,247 Commercial and financial 60,941 — — — 2,331 63,272 Consumer 5,677 23 — — — 5,700 Total Acquired Non-PCD Loans 821,041 1,549 — 268 5,530 828,388 PCD Loans Construction and land development 2,419 — — — 10 2,429 Commercial real estate - owner-occupied 27,109 — — — — 27,109 Commercial real estate - non owner-occupied 10,808 — — — 1,036 11,844 Residential real estate 7,379 — — — 1,177 8,556 Commercial and financial 977 — — — 50 1,027 Consumer 277 87 — — — 364 Total PCD Loans 48,969 87 — — 2,273 51,329 Total Loans $ 5,725,805 $ 9,556 $ 5,541 $ 1,099 $ 30,051 $ 5,772,052 December 31, 2019 (In thousands) Current Accruing Accruing Accruing Nonaccrual Total Portfolio Loans Construction and land development $ 276,984 $ — $ — $ — $ 4,351 $ 281,335 Commercial real estate 1,828,629 1,606 220 — 4,356 1,834,811 Residential real estate 1,294,778 1,564 18 — 7,945 1,304,305 Commercial and financial 690,412 2,553 — 108 4,228 697,301 Consumer 199,424 317 315 — 110 200,166 Total Portfolio Loans 4,290,227 6,040 553 108 20,990 4,317,918 Purchased Unimpaired Loans Construction and land development 43,044 — — — 574 43,618 Commercial real estate 531,325 942 431 — 1,245 533,943 Residential real estate 201,159 277 — — 412 201,848 Commercial and financial 78,705 — — — 1,667 80,372 Consumer 8,039 — — — — 8,039 Total PULs 862,272 1,219 431 — 3,898 867,820 Purchased Credit Impaired Loans Construction and land development 148 — — — 12 160 Commercial real estate 9,298 — — — 919 10,217 Residential real estate 587 — — — 1,123 1,710 Commercial and financial 566 — — — 13 579 Consumer — — — — — — Total PCI Loans 10,599 — — — 2,067 12,666 Total Loans $ 5,163,098 $ 7,259 $ 984 $ 108 $ 26,955 $ 5,198,404
Schedule of Nonaccrual Loans by Loan CategoryThe following tables present net balances of loans on nonaccrual status and the related allowance for credit losses, if any, as of: June 30, 2020 (In thousands) Nonaccrual Loans With No Related Allowance Nonaccrual Loans With an Allowance Total Nonaccrual Loans Allowance for Credit Losses Construction and land development $ 585 $ 21 $ 606 $ 11 Commercial real estate - owner-occupied 3,445 321 3,766 160 Commercial real estate - non owner-occupied 2,096 1,036 3,132 204 Residential real estate 11,871 916 12,787 793 Commercial and financial 4,808 4,550 9,358 3,409 Consumer 32 370 402 86 Totals $ 22,837 $ 7,214 $ 30,051 $ 4,663 December 31, 2019 (In thousands) Nonaccrual Loans With No Related Allowance Nonaccrual Loans With an Allowance Total Nonaccrual Loans Allowance for Credit Losses Construction and land development $ 4,913 $ 23 $ 4,936 $ 12 Commercial real estate 6,200 320 6,520 149 Residential real estate 8,700 780 9,480 564 Commercial and financial 3,449 2,460 5,909 1,622 Consumer 39 71 110 37 Totals $ 23,301 $ 3,654 $ 26,955 $ 2,384
Schedule of Collateral Dependent LoansThe following table presents collateral dependent loans as of: (In thousands) June 30, 2020 December 31, 2019 Construction and land development $ 634 $ 4,926 Commercial real estate - owner-occupied 6,173 2,571 Commercial real estate - non owner-occupied 3,574 3,152 Residential real estate 14,117 11,550 Commercial and financial 5,526 4,338 Consumer 410 141 Totals $ 30,434 $ 26,678
Schedule of Risk Categories of Loans by Class of LoansThe following tables present the risk rating of loans by year of origination: June 30, 2020 (In thousands) 2020 2019 2018 2017 2016 Prior Revolving Total Construction and Land Development Risk Ratings: Pass $ 29,412 $ 95,549 $ 70,528 $ 35,134 $ 10,478 $ 18,260 $ 33,439 $ 292,800 Special Mention 198 503 1,378 38 — 2,147 — 4,264 Substandard — — — — — 58 988 1,046 Substandard Impaired — — — — 574 151 — 725 Doubtful — — — — — — — — Total 29,610 96,052 71,906 35,172 11,052 20,616 34,427 298,835 Commercial real estate - owner-occupied Risk Ratings: Pass 74,304 185,717 157,946 139,936 158,728 317,778 15,952 1,050,361 Special Mention 199 1,616 — 1,016 4,471 4,088 — 11,390 Substandard — — 570 3,782 1,066 5,100 — 10,518 Substandard Impaired — — — 426 — 3,634 — 4,060 Doubtful 1 — — — — 321 — — 321 Total 74,503 187,333 158,516 145,160 164,586 330,600 15,952 1,076,650 Commercial real estate - non owner-occupied Risk Ratings: Pass 80,710 321,844 230,276 130,437 196,698 390,280 6,150 1,356,395 Special Mention — 105 — 1,376 7,876 1,117 — 10,474 Substandard — — 5,705 — 8,326 6,367 1,350 21,748 Substandard Impaired — — — — 126 4,044 — 4,170 Doubtful — — — — — — — — Total 80,710 321,949 235,981 131,813 213,026 401,808 7,500 1,392,787 Residential real estate Risk Ratings: Pass 32,562 160,057 261,757 273,829 196,662 202,708 312,596 1,440,171 Special Mention — 190 277 721 3,387 621 68 5,264 Substandard — — 1,334 — — 1,607 1,580 4,521 Substandard Impaired 84 693 — 3,613 — 10,495 3,330 18,215 Doubtful — — — — — — — — Total 32,646 160,940 263,368 278,163 200,049 215,431 317,574 1,468,171 Commercial and financial Risk Ratings: Pass 100,094 152,509 115,004 88,448 44,728 52,576 185,175 738,534 Special Mention — 287 14 530 95 2,255 1,181 4,362 Substandard — 148 337 259 425 1,698 2,099 4,966 Substandard Impaired — 644 1,847 2,403 1,819 940 1,669 9,322 Doubtful 1 — — — 39 — — 9 48 Total 100,094 153,588 117,202 91,679 47,067 57,469 190,133 757,232 June 30, 2020 (In thousands) 2020 2019 2018 2017 2016 Prior Revolving Total Consumer Risk Ratings: Pass 29,140 55,596 38,416 25,291 26,191 12,986 11,225 198,845 Special Mention — 23 29 105 — 87 1,751 1,995 Substandard — — — 19 8 39 340 406 Substandard Impaired 41 52 48 — 316 224 — 681 Doubtful — — — — — — — — Total 29,181 55,671 38,493 25,415 26,515 13,336 13,316 201,927 Paycheck Protection Program Risk Ratings: Pass 576,450 — — — — — — 576,450 Total 576,450 — — — — — — 576,450 Consolidated Risk Ratings: Pass 922,672 971,272 873,927 693,075 633,485 994,588 564,537 5,653,556 Special Mention 397 2,724 1,698 3,786 15,829 10,315 3,000 37,749 Substandard — 148 7,946 4,060 9,825 14,869 6,357 43,205 Substandard Impaired 125 1,389 1,895 6,442 2,835 19,488 4,999 37,173 Doubtful 1 — — — 39 321 — 9 369 Total $ 923,194 $ 975,533 $ 885,466 $ 707,402 $ 662,295 $ 1,039,260 $ 578,902 $ 5,772,052 1 Loans classified as doubtful are fully reserved as of June 30, 2020. The following table presents the risk rating of loans as of: December 31, 2019 (In thousands) Pass Special Substandard Doubtful 1 Total Construction and land development $ 317,765 $ 2,235 $ 5,113 $ — $ 325,113 Commercial real estate 2,331,725 26,827 20,098 321 2,378,971 Residential real estate 1,482,278 7,364 18,221 — 1,507,863 Commercial and financial 755,957 11,925 9,496 874 778,252 Consumer 203,966 3,209 1,030 — 208,205 Totals $ 5,091,691 $ 51,560 $ 53,958 $ 1,195 $ 5,198,404 1 Loans classified as doubtful are fully reserved as of December 31, 2019.
Schedule of Troubled Debt RestructuringThe following table presents loans that were modified in a troubled debt restructuring during the three and six months ended: Three Months Ended June 30, 2020 2019 (In thousands) Number of Contracts Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment Number of Contracts Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment Construction and land development 1 $ 12 $ 12 — $ — $ — Commercial real estate - owner-occupied — — — 1 351 351 Commercial real estate - non owner-occupied — — — — — — Residential real estate — — — — — — Commercial and financial — — — — — — Consumer 2 47 47 1 19 19 Totals 3 $ 59 $ 59 2 $ 370 $ 370 Six Months Ended June 30, 2020 2019 (In thousands) Number of Contracts Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment Number of Contracts Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment Construction and land development 1 $ 12 $ 12 — $ — $ — Commercial real estate - owner-occupied — — — 2 2,166 2,166 Commercial real estate - non owner-occupied — — — — — — Residential real estate 1 45 45 — — — Commercial and financial 4 437 437 1 180 180 Consumer 2 47 47 1 19 19 Totals 8 $ 541 $ 541 4 $ 2,365 $ 2,365

Allowance for Credit Losses (Ta

Allowance for Credit Losses (Tables)6 Months Ended
Jun. 30, 2020
Receivables [Abstract]
Schedule of Allowance for Loan LossesActivity in the allowance for credit losses is summarized as follows: Three Months Ended June 30, 2020 (In thousands) Beginning Provision Charge- Recoveries TDR Ending Construction and land development $ 4,646 $ 2,478 $ — $ 37 $ — $ 7,161 Commercial real estate - owner-occupied 5,327 229 — 18 (12) 5,562 Commercial real estate - non owner-occupied 35,643 3,345 — 4 — 38,992 Residential real estate 19,899 574 (113) 101 (8) 20,453 Commercial and financial 15,470 1,319 (1,768) 493 — 15,514 Consumer 4,426 (334) (614) 91 (1) 3,568 Paycheck Protection Program — — — — — — Totals $ 85,411 $ 7,611 $ (2,495) $ 744 $ (21) $ 91,250 Three Months Ended June 30, 2019 (In thousands) Beginning Provision Charge- Recoveries TDR Ending Construction and land development $ 2,320 $ (79) $ (1) $ 3 $ — $ 2,243 Commercial real estate 11,753 (433) — 565 (15) 11,870 Residential real estate 7,445 51 (28) 51 (11) 7,508 Commercial and financial 8,573 2,114 (1,881) 106 — 8,912 Consumer 2,731 898 (734) 78 (1) 2,972 Totals $ 32,822 $ 2,551 $ (2,644) $ 803 $ (27) $ 33,505 Six Months Ended June 30, 2020 (In thousands) Beginning Impact of Adoption of ASC 326 Initial Allowance on PCD Loans Acquired During the Period Provision Charge- Recoveries TDR Ending Construction and land development $ 1,842 $ 1,479 $ 48 $ 3,727 $ — $ 66 $ (1) $ 7,161 Commercial real estate - owner-occupied 5,361 80 207 (34) (45) 18 (25) 5,562 Commercial real estate - non owner-occupied 7,863 9,341 140 21,628 (12) 32 — 38,992 Residential real estate 7,667 5,787 97 6,834 (131) 218 (19) 20,453 Commercial and financial 9,716 3,677 11 4,063 (2,866) 913 — 15,514 Consumer 2,705 862 13 906 (1,087) 170 (1) 3,568 Paycheck Protection Program — — — — — — — — Totals $ 35,154 $ 21,226 $ 516 $ 37,124 $ (4,141) $ 1,417 $ (46) $ 91,250 Six Months Ended June 30, 2019 (In thousands) Beginning Balance Provision for Loan Losses Charge- Offs Recoveries TDR Allowance Adjustments Ending Balance Construction and land development $ 2,233 $ 4 $ — $ 7 $ (1) $ 2,243 Commercial real estate 11,112 192 (16) 612 (30) 11,870 Residential real estate 7,775 (363) (65) 190 (29) 7,508 Commercial and financial 8,585 2,967 (2,825) 185 — 8,912 Consumer 2,718 1,148 (1,217) 325 (2) 2,972 Totals $ 32,423 $ 3,948 $ (4,123) $ 1,319 $ (62) $ 33,505
Schedule of Loan Portfolio, Excluding PCI Loans and Related AllowanceThe allowance for credit losses is composed of specific allowances for loans individually evaluated and general allowances for loans grouped into loan pools based on similar characteristics, which are collectively evaluated. The Company’s loan portfolio and related allowance at June 30, 2020 and December 31, 2019 is shown in the following tables: June 30, 2020 Individually Evaluated Collectively Evaluated Total (In thousands) Recorded Associated Recorded Associated Recorded Associated Construction and land development $ 726 $ 20 $ 298,109 $ 7,141 $ 298,835 $ 7,161 Commercial real estate - owner-occupied 4,491 160 1,072,159 5,402 1,076,650 5,562 Commercial real estate - non owner-occupied 7,883 254 1,384,904 38,738 1,392,787 38,992 Residential real estate 18,216 1,071 1,449,955 19,382 1,468,171 20,453 Commercial and financial 9,822 3,628 747,410 11,886 757,232 15,514 Consumer 681 107 201,246 3,461 201,927 3,568 Paycheck Protection Program — — 576,450 — 576,450 — Totals $ 41,819 $ 5,240 $ 5,730,233 $ 86,010 $ 5,772,052 $ 91,250 December 31, 2019 Individually Evaluated Collectively Evaluated Total (In thousands) Recorded Associated Recorded Associated Recorded Associated Construction and land development $ 5,217 $ 14 $ 319,896 $ 1,828 $ 325,113 $ 1,842 Commercial real estate 20,484 220 2,358,487 13,004 2,378,971 13,224 Residential real estate 16,093 834 1,491,770 6,833 1,507,863 7,667 Commercial and financial 6,631 1,731 771,621 7,985 778,252 9,716 Consumer 337 59 207,868 2,646 208,205 2,705 Totals $ 48,762 $ 2,858 $ 5,149,642 $ 32,296 $ 5,198,404 $ 35,154

Securities Sold Under Agreeme_2

Securities Sold Under Agreements to Repurchase (Tables)6 Months Ended
Jun. 30, 2020
Brokers and Dealers [Abstract]
Schedule of Securities Sold Under Agreements to Repurchase and Securities PledgedCompany securities pledged were as follows by collateral type and maturity as of: (In thousands) June 30, 2020 December 31, 2019 Fair value of pledged securities - overnight and continuous: Mortgage-backed securities and collateralized mortgage obligations of U.S. government sponsored entities $ 97,344 $ 94,354

Noninterest Income and Expense

Noninterest Income and Expense (Tables)6 Months Ended
Jun. 30, 2020
Brokers and Dealers [Abstract]
Schedule of Noninterest Income and ExpenseDetails of noninterest income and expenses for the three and six months ended June 30, 2020 and 2019 are as follows: Three Months Ended June 30, Six Months Ended June 30, (In thousands) 2020 2019 2020 2019 Noninterest income Service charges on deposit accounts $ 1,939 $ 2,894 $ 4,764 $ 5,591 Interchange income 3,187 3,405 6,433 6,806 Wealth management income 1,719 1,688 3,586 3,141 Mortgage banking fees 3,559 1,734 5,767 2,849 Marine finance fees 157 201 303 563 SBA gains 181 691 320 1,327 BOLI income 887 927 1,773 1,842 Other income 2,147 2,503 5,499 4,769 13,776 14,043 28,445 26,888 Securities gains (losses), net 1,230 (466) 1,249 (475) Total $ 15,006 $ 13,577 $ 29,694 $ 26,413 Noninterest expense Salaries and wages $ 20,226 $ 19,420 $ 43,924 $ 37,926 Employee benefits 3,379 3,195 7,634 7,401 Outsourced data processing costs 4,059 3,876 8,692 7,721 Telephone/data lines 791 893 1,505 1,704 Occupancy 3,385 3,741 6,738 7,548 Furniture and equipment 1,358 1,544 2,981 3,301 Marketing 997 1,211 2,275 2,343 Legal and professional fees 2,277 2,033 5,640 4,880 FDIC assessments 266 337 266 825 Amortization of intangibles 1,483 1,456 2,939 2,914 Foreclosed property expense and net loss (gain) on sale 245 (174) (70) (214) Other 3,933 3,468 7,673 7,750 Total $ 42,399 $ 41,000 $ 90,197 $ 84,099

Fair Value (Tables)

Fair Value (Tables)6 Months Ended
Jun. 30, 2020
Fair Value Disclosures [Abstract]
Schedule of Fair Value of Assets Measured on Recurring and Nonrecurring BasisUnder ASC Topic 820, fair value measurements for items measured at fair value on a recurring and nonrecurring basis at June 30, 2020 and December 31, 2019 included: (In thousands) Fair Value Quoted Prices Significant Significant June 30, 2020 Available for sale debt securities 1 $ 976,025 $ 102 $ 975,923 $ — Loans held for sale 2 54,943 — 54,943 — Loans 3 7,974 — 1,448 6,526 Other real estate owned 4 15,847 — 2,368 13,479 Equity securities 5 6,548 6,548 — — December 31, 2019 Available for sale debt securities 1 $ 946,855 $ 100 $ 946,755 $ — Loans held for sale 2 20,029 — 20,029 — Loans 3 5,123 — 1,419 3,704 Other real estate owned 4 12,390 — 241 12,149 Equity securities 5 6,392 6,392 — — 1 See Note D for further detail of fair value of individual investment categories. 2 Recurring fair value basis determined using observable market data. 3 See Note E. Nonrecurring fair value adjustments to loans identified as impaired reflect full or partial write-downs that are based on the loan’s observable market price or current appraised value of the collateral in accordance with ASC Topic 310. 4 Fair value is measured on a nonrecurring basis in accordance with ASC Topic 360. 5 An investment in shares of a mutual fund that invests primarily in CRA-qualified debt securities, reported at fair value in Other Assets. Recurring fair value basis is determined using market quotations.
Schedule of Aggregate Fair Value and Contractual Balance of Loans for SaleThe aggregate fair value and contractual balance of loans held for sale as of June 30, 2020 and December 31, 2019 is as follows: (In thousands) June 30, 2020 December 31, 2019 Aggregate fair value $ 54,943 $ 20,029 Contractual balance 53,556 19,445 Excess 1,387 584
Schedule of Carrying Amount and Fair Value of Other Significant Financial Instruments Not Measured on a Recurring BasisThe carrying amount and fair value of the Company’s other financial instruments that were not disclosed previously in the balance sheet and for which carrying amount is not fair value as of June 30, 2020 and December 31, 2019 is as follows: (In thousands) Carrying Amount Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs June 30, 2020 Financial Assets Debt securities held-to-maturity 1 $ 227,092 $ — $ 235,946 $ — Time deposits with other banks 2,496 — — 2,530 Loans, net 5,672,828 — — 5,770,882 Financial Liabilities Deposit liabilities 6,666,783 — — 6,673,509 Federal Home Loan Bank (FHLB) borrowings 135,000 — — 134,782 Subordinated debt 71,225 — 64,143 — December 31, 2019 Financial Assets Debt securities held-to-maturity 1 $ 261,369 $ — $ 262,213 $ — Time deposits with other banks 3,742 — — 3,744 Loans, net 5,158,127 — — 5,139,491 Financial Liabilities Deposit liabilities 5,584,753 — — 5,584,621 Federal Home Loan Bank (FHLB) borrowings 315,000 — — 314,995 Subordinated debt 71,085 — 64,017 — 1 See Note D for further detail of individual investment categories.

Business Combinations (Tables)

Business Combinations (Tables)6 Months Ended
Jun. 30, 2020
Business Combinations [Abstract]
Schedule of Purchase Price Calculation(In thousands, except per share data) March 13, 2020 Number of FBPB common shares outstanding 5,213 Per share exchange ratio 0.2000 Number of shares of common stock issued 1,043 Multiplied by common stock price per share on March 13, 2020 $ 20.17 Value of common stock issued 21,031 Cash paid for FBPB vested stock options 866 Total purchase price $ 21,897
Schedule of Business AcquisitionsThe fair values initially assigned to assets acquired and liabilities assumed are preliminary and could change for up to one year after the closing date of the acquisition as new information and circumstances relative to closing date fair values becomes known. (In thousands) Initially Measured Measurement Period Adjustments As Adjusted March 13, 2020 Assets: Cash $ 34,749 $ — $ 34,749 Investment securities 447 — 447 Loans 146,839 (62) 146,777 Bank premises and equipment 6,086 — 6,086 Core deposit intangibles 819 — 819 Goodwill 6,799 62 6,861 Other assets 1,285 20 1,305 Total assets $ 197,024 $ 20 $ 197,044 Liabilities: Deposits $ 173,741 $ — $ 173,741 Other liabilities 1,386 20 1,406 Total liabilities $ 175,127 $ 20 $ 175,147
Schedule of Fair Value of Acquired Loans, Unpaid Principal Balance, Purchase Price and Allowance for Credit LossesThe table below presents information with respect to the fair value and unpaid principal balance of acquired loans at the acquisition date. March 13, 2020 (In thousands) Book Balance Fair Value Loans: Construction and land development $ 9,493 $ 9,012 Commercial real estate - owner-occupied 46,221 45,171 Commercial real estate - non owner-occupied 36,268 35,079 Residential real estate 47,569 47,043 Commercial and financial 9,659 9,388 Consumer 1,132 1,084 Total acquired loans $ 150,342 $ 146,777 The table below presents the carrying amount of loans for which, at the date of acquisition, there was evidence of more than insignificant deterioration of credit quality since origination: (In thousands) March 13, 2020 Book balance of loans at acquisition $ 43,682 Allowance for credit losses at acquisition (516) Non-credit related discount (128) Total PCD loans acquired $ 43,038
Schedule of Pro-Forma DataPro-forma data for the three and six months ended June 30, 2020 presents information as if the acquisition of FBPB occurred at the beginning of 2019, as follows: Three Months Ended June 30, 2020 Six Months Ended June 30, 2020 (In thousands, except per share amounts) 2020 2019 2020 2019 Net interest income 1 $ 67,272 $ 61,879 $ 131,887 $ 124,417 Net income 25,080 23,966 27,526 45,378 EPS - basic $ 0.47 $ 0.46 $ 0.52 $ 0.87 EPS - diluted 0.47 0.45 0.52 0.86 1 The provision for credit losses of $1.8 million recorded under CECL at the time of acquisition has been excluded from the pro forma information above, which presents information as if the acquisition had occurred on January 1, 2019, prior to the Company's adoption of CECL.

Basis of Presentation - Narrati

Basis of Presentation - Narrative (Details) - USD ($)Jan. 01, 2020Jun. 30, 2020Dec. 31, 2019
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Increase to amortized cost basis of PCD loans to reflect increase in adjustment to allowance for credit losses $ 516,000
Held-to-maturity securities, allowance for credit loss0
Unrealized losses6,088,000 $ 4,547,000
Cumulative Effect Adjustment
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Increase to amortized cost basis of PCD loans to reflect increase in adjustment to allowance for credit losses $ 700,000
Noncredit discount on PCD loans to be accredited into interest income over remaining life of loans900,000
Collateralized loan obligations
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Unrealized losses $ 1,200,000 $ 5,444,000 $ 1,153,000

Basis of Presentation - Schedul

Basis of Presentation - Schedule of Cumulative Effect Adjustments (Details) - USD ($) $ in ThousandsJun. 30, 2020Mar. 31, 2020Jan. 01, 2020Dec. 31, 2019Jun. 30, 2019Mar. 31, 2019Dec. 31, 2018
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Loans $ 5,772,052 $ 5,198,404
Allowance for credit losses91,250 $ 85,411 35,154 $ 33,505 $ 32,822 $ 32,423
Reserve for unfunded commitments140
Deferred tax assets $ 21,404 16,457
Retained earnings195,813
Cumulative Effect Adjustment
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Loans $ (706)
Allowance for credit losses21,226 $ 21,226
Reserve for unfunded commitments1,837
Deferred tax assets(5,481)
Retained earnings(16,876)
Cumulative Effect Adjusted Balance
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Loans5,197,698
Allowance for credit losses56,380
Reserve for unfunded commitments1,977
Deferred tax assets10,976
Retained earnings $ 178,937

Earnings per Share - Narrative

Earnings per Share - Narrative (Details) - shares shares in Thousands3 Months Ended6 Months Ended
Jun. 30, 2020Jun. 30, 2019Jun. 30, 2020Jun. 30, 2019
Earnings Per Share [Abstract]
Antidilutive securities excluded from diluted earnings per share calculation (in shares)508 494 489 494

Earnings per Share - Schedule o

Earnings per Share - Schedule of Earnings Per Share, Basic and Diluted (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands3 Months Ended6 Months Ended
Jun. 30, 2020Jun. 30, 2019Jun. 30, 2020Jun. 30, 2019
Basic earnings per share
Net income $ 25,080 $ 23,253 $ 25,789 $ 45,958
Average common shares outstanding (in shares)52,985 51,446 52,394 51,403
Net income per share (in dollars per share) $ 0.47 $ 0.45 $ 0.49 $ 0.89
Diluted earnings per share
Average common shares outstanding (in shares)52,985 51,446 52,394 51,403
Add: Dilutive effect of employee restricted stock and stock options (in shares)323 506 413 595
Average diluted shares outstanding (in shares)53,308 51,952 52,807 51,998
Net income per share (in dollars per share) $ 0.47 $ 0.45 $ 0.49 $ 0.88

Securities - Amortized Cost and

Securities - Amortized Cost and Fair Value of Securities Available for Sale and Held for Investment (Details) - USD ($) $ in ThousandsJun. 30, 2020Dec. 31, 2019
Debt securities available-for-sale
Available for sale, amortized cost, total $ 953,342 $ 940,765
Available for sale, gross unrealized gains28,771 8,764
Available for sale, gross unrealized losses(6,088)(2,674)
Available for sale, fair value976,025 946,855
Debt securities held-to-maturity
Held to maturity, amortized cost, total227,092 261,369
Held to maturity, gross unrealized gains8,860 2,717
Held to maturity, gross unrealized losses(6)(1,873)
Held to maturity, fair value235,946 262,213
U.S. Treasury securities and obligations of U.S. government agencies
Debt securities available-for-sale
Available for sale, amortized cost, total8,981 9,914
Available for sale, gross unrealized gains418 204
Available for sale, gross unrealized losses(1)(4)
Available for sale, fair value9,398 10,114
Mortgage-backed securities and collateralized mortgage obligations of U.S. government-sponsored entities
Debt securities available-for-sale
Available for sale, amortized cost, total636,528 604,934
Available for sale, gross unrealized gains24,747 5,784
Available for sale, gross unrealized losses(90)(1,511)
Available for sale, fair value661,185 609,207
Debt securities held-to-maturity
Held to maturity, amortized cost, total227,092 261,369
Held to maturity, gross unrealized gains8,860 2,717
Held to maturity, gross unrealized losses(6)(1,873)
Held to maturity, fair value235,946 262,213
Private mortgage-backed securities and collateralized mortgage obligations
Debt securities available-for-sale
Available for sale, amortized cost, total75,756 56,005
Available for sale, gross unrealized gains1,645 1,561
Available for sale, gross unrealized losses(550)(5)
Available for sale, fair value76,851 57,561
Debt securities held-to-maturity
Held to maturity, fair value0
Collateralized loan obligations
Debt securities available-for-sale
Available for sale, amortized cost, total204,258 239,364
Available for sale, gross unrealized gains3 7
Available for sale, gross unrealized losses(5,444)(1,153)
Available for sale, fair value198,817 238,218
Debt securities held-to-maturity
Held to maturity, fair value0
Obligations of state and political subdivisions
Debt securities available-for-sale
Available for sale, amortized cost, total27,819 30,548
Available for sale, gross unrealized gains1,958 1,208
Available for sale, gross unrealized losses(3)(1)
Available for sale, fair value $ 29,774 $ 31,755

Securities - Narrative (Details

Securities - Narrative (Details) - USD ($)3 Months Ended6 Months Ended
Jun. 30, 2020Jun. 30, 2019Jun. 30, 2020Jun. 30, 2019Jan. 01, 2020Dec. 31, 2019
Debt Securities, Available-for-sale [Line Items]
Proceeds from sale of debt securities available-for-sale $ 64,500,000 $ 38,200,000 $ 92,314,000 $ 73,297,000
Gross gains from sale of securities2,300,000 2,400,000 200,000
Gross losses from sale of securities(1,100,000)(600,000)(1,300,000)(900,000)
Gain (loss) on investment in shares of mutual funds1,230,000 (466,000)1,249,000 $ (475,000)
Unrealized losses on mortgage backed securities of government sponsored entities6,088,000 6,088,000 $ 4,547,000
Fair value of securities in unrealized loss position283,851,000 283,851,000 527,939,000
Federal Home Loan Bank and Federal Reserve stock recorded in other assets37,200,000 37,200,000
Accrued interest receivable on AFS debt securities3,100,000 3,100,000 3,800,000
Accrued interest receivable on HTM debt securities500,000 500,000 600,000
Held-to-maturity securities, allowance for credit loss $ 0 $ 0
Visa | Common Class B
Debt Securities, Available-for-sale [Line Items]
Shares of Visa stock held (in shares)11,330 11,330
Visa | Common Class A
Debt Securities, Available-for-sale [Line Items]
Conversion rate of Class A stock for each share of Class B stock (in dollars per share) $ 1.6228 $ 1.6228
Shares issued (in shares)18,386
CRA - Qualified Mutual Fund
Debt Securities, Available-for-sale [Line Items]
Gain (loss) on investment in shares of mutual funds $ 100,000 $ 200,000
Investment in mutual fund carried at fair value $ 6,500,000 6,500,000
Public Deposits and Secured Borrowings | Carrying Value
Debt Securities, Available-for-sale [Line Items]
Fair value of debt securities pledged as collateral330,300,000 330,300,000
Private mortgage-backed securities and collateralized mortgage obligations
Debt Securities, Available-for-sale [Line Items]
Unrealized losses on mortgage backed securities of government sponsored entities550,000 550,000 5,000
Fair value of securities in unrealized loss position24,532,000 24,532,000 2,978,000
Allowance for credit losses on AFS debt securities $ 0 $ 0
Average credit support percentage22.00%22.00%
Mortgage-backed securities and collateralized mortgage obligations of U.S. government-sponsored entities
Debt Securities, Available-for-sale [Line Items]
Unrealized losses on mortgage backed securities of government sponsored entities $ 90,000 $ 90,000 3,384,000
Fair value of securities in unrealized loss position65,630,000 65,630,000 324,241,000
Collateralized loan obligations
Debt Securities, Available-for-sale [Line Items]
Unrealized losses on mortgage backed securities of government sponsored entities5,444,000 5,444,000 $ 1,200,000 1,153,000
Fair value of securities in unrealized loss position192,908,000 192,908,000 $ 199,447,000
Allowance for credit losses on AFS debt securities $ 0 $ 0
Standard & Poor's, AAA Rating | Collateralized loan obligations
Debt Securities, Available-for-sale [Line Items]
Number of positions held, percentage of total36.00%36.00%
Standard & Poor's, AA Rating | Collateralized loan obligations
Debt Securities, Available-for-sale [Line Items]
Number of positions held, percentage of total26.00%26.00%

Securities - Amortized Cost a_2

Securities - Amortized Cost and Fair Value of Securities by Contractual Maturity (Details) - USD ($) $ in ThousandsJun. 30, 2020Dec. 31, 2019
Amortized Cost
Held to maturity, amortized cost, total $ 227,092 $ 261,369
Fair Value
Held to maturity, fair value, total235,946 262,213
Amortized Cost
Available for sale, amortized cost, total953,342 940,765
Fair Value
Available for sale, fair value, total976,025 946,855
Other Debt Obligations
Amortized Cost
Held to maturity, amortized cost, due in less than one year0
Held to maturity, amortized cost, due after one year through five years0
Held to maturity, amortized cost, due after five years through ten years0
Held to maturity, amortized cost, due after ten years0
Held to maturity, amortized cost, total0
Fair Value
Held to maturity, fair value, due in less than one year0
Held to maturity, fair value, due after one year through five years0
Held to maturity, fair value, due after five years through ten years0
Held to maturity, fair value, due after ten years0
Held to maturity, fair value, total0
Amortized Cost
Available for sale, amortized cost, due in less than one year2,100
Available for sale, amortized cost, due after one year through five years8,655
Available for sale, amortized cost, due after five years through ten years8,577
Available for sale, amortized cost, due after ten years17,468
Available for sale, amortized cost, total36,800
Fair Value
Available for sale, fair value, due in less than one year2,125
Available for sale, fair value, due after one year through five years9,063
Available for sale, fair value, due after five years through ten years9,200
Available for sale, fair value, due after ten years18,784
Available for sale, fair value, total39,172
Mortgage-backed securities and collateralized mortgage obligations of U.S. government-sponsored entities
Amortized Cost
Held to maturity, amortized cost, total227,092
Fair Value
Held to maturity, fair value, total235,946 262,213
Amortized Cost
Available for sale, amortized cost, total636,528 604,934
Fair Value
Available for sale, fair value, total661,185 609,207
Private mortgage-backed securities and collateralized mortgage obligations
Amortized Cost
Held to maturity, amortized cost, total0
Fair Value
Held to maturity, fair value, total0
Amortized Cost
Available for sale, amortized cost, total75,756 56,005
Fair Value
Available for sale, fair value, total76,851 57,561
Collateralized loan obligations
Amortized Cost
Held to maturity, amortized cost, total0
Fair Value
Held to maturity, fair value, total0
Amortized Cost
Available for sale, amortized cost, total204,258 239,364
Fair Value
Available for sale, fair value, total $ 198,817 $ 238,218

Securities - Schedule of Unreal

Securities - Schedule of Unrealized Loss and Fair Value on Investments (Details) - USD ($) $ in ThousandsJun. 30, 2020Jan. 01, 2020Dec. 31, 2019
Fair Value
Less Than 12 Months $ 174,885 $ 312,988
12 Months or Longer108,966 214,951
Total283,851 527,939
Unrealized Losses
Less Than 12 Months(2,266)(2,041)
12 Months or Longer(3,822)(2,506)
Total(6,088)(4,547)
U.S. Treasury securities and obligations of U.S. government agencies
Fair Value
Less Than 12 Months269 758
12 Months or Longer0 0
Total269 758
Unrealized Losses
Less Than 12 Months(1)(4)
12 Months or Longer0 0
Total(1)(4)
Mortgage-backed securities and collateralized mortgage obligations of U.S. government-sponsored entities
Fair Value
Less Than 12 Months65,273 220,057
12 Months or Longer357 104,184
Total65,630 324,241
Unrealized Losses
Less Than 12 Months(74)(1,461)
12 Months or Longer(16)(1,923)
Total(90)(3,384)
Private mortgage-backed securities and collateralized mortgage obligations
Fair Value
Less Than 12 Months24,532 2,978
12 Months or Longer0 0
Total24,532 2,978
Unrealized Losses
Less Than 12 Months(550)(5)
12 Months or Longer0 0
Total(550)(5)
Collateralized loan obligations
Fair Value
Less Than 12 Months84,299 88,680
12 Months or Longer108,609 110,767
Total192,908 199,447
Unrealized Losses
Less Than 12 Months(1,638)(570)
12 Months or Longer(3,806)(583)
Total(5,444) $ (1,200)(1,153)
Obligations of state and political subdivisions
Fair Value
Less Than 12 Months512 515
12 Months or Longer0 0
Total512 515
Unrealized Losses
Less Than 12 Months(3)(1)
12 Months or Longer0 0
Total $ (3) $ (1)

Loans - Schedule of Portfolio L

Loans - Schedule of Portfolio Loans, Purchased Credit Impaired Loans and Purchased Unimpaired Loans (Details) - USD ($) $ in ThousandsJun. 30, 2020Dec. 31, 2019
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans $ 5,772,052 $ 5,198,404
Construction and land development
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans298,835 325,113
Commercial real estate - owner-occupied
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans1,076,650 1,000,000
Commercial real estate - non owner-occupied
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans1,392,787
Commercial real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans2,378,971
Residential real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans1,468,171 1,507,863
Commercial and financial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans757,232 778,252
Consumer
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans201,927 208,205
Paycheck Protection Program
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans576,450
Portfolio Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans4,892,335 4,317,918
Portfolio Loans | Construction and land development
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans270,715 281,335
Portfolio Loans | Commercial real estate - owner-occupied
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans832,943
Portfolio Loans | Commercial real estate - non owner-occupied
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans1,074,063
Portfolio Loans | Commercial real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans1,834,811
Portfolio Loans | Residential real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans1,249,368 1,304,305
Portfolio Loans | Commercial and financial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans692,933 697,301
Portfolio Loans | Consumer
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans195,863 200,166
Portfolio Loans | Paycheck Protection Program
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans576,450
PULs
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans867,820
PULs | Construction and land development
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans43,618
PULs | Commercial real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans533,943
PULs | Residential real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans201,848
PULs | Commercial and financial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans80,372
PULs | Consumer
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans8,039
PCD Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans12,666
PCD Loans | Construction and land development
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans160
PCD Loans | Commercial real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans10,217
PCD Loans | Residential real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans1,710
PCD Loans | Commercial and financial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans579
PCD Loans | Consumer
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans $ 0
Acquired Non-PCD Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans828,388
Acquired Non-PCD Loans | Construction and land development
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans25,691
Acquired Non-PCD Loans | Commercial real estate - owner-occupied
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans216,598
Acquired Non-PCD Loans | Commercial real estate - non owner-occupied
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans306,880
Acquired Non-PCD Loans | Residential real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans210,247
Acquired Non-PCD Loans | Commercial and financial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans63,272
Acquired Non-PCD Loans | Consumer
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans5,700
Acquired Non-PCD Loans | Paycheck Protection Program
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans0
PCD Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans51,329
PCD Loans | Construction and land development
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans2,429
PCD Loans | Commercial real estate - owner-occupied
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans27,109
PCD Loans | Commercial real estate - non owner-occupied
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans11,844
PCD Loans | Residential real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans8,556
PCD Loans | Commercial and financial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans1,027
PCD Loans | Consumer
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans364
PCD Loans | Paycheck Protection Program
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans $ 0

Loans - Narrative (Details)

Loans - Narrative (Details)3 Months Ended6 Months Ended12 Months Ended
Jun. 30, 2020USD ($)contractJun. 30, 2019USD ($)contractJun. 30, 2020USD ($)contractJun. 30, 2019USD ($)contractDec. 31, 2019USD ($)contractMar. 13, 2020USD ($)
Financing Receivable, Troubled Debt Restructuring [Line Items]
Net deferred costs $ 19,900,000
Accrued interest receivable $ 25,300,000 $ 25,300,000 $ 14,900,000
Interest income from securities with no related allowance300,000 $ 300,000
Allowance for credit loss on TDRs $ 400,000 $ 0 $ 400,000 $ 0
Number of loans under trouble debt restructuring | contract3 2 8 4 3
Value of loans under trouble debt restructuring $ 59,000 $ 370,000 $ 541,000 $ 2,365,000 $ 1,400,000
Interest income related to impaired loans with impairment measured on present value of expected future cash flows21,000 $ 27,000 46,000 $ 62,000
Portfolio Loans
Financing Receivable, Troubled Debt Restructuring [Line Items]
Net deferred costs21,500,000 21,500,000
Portfolio Loans | Paycheck Protection Program
Financing Receivable, Troubled Debt Restructuring [Line Items]
Net deferred fees $ 13,000,000 13,000,000
First Bank of the Palm Beaches
Financing Receivable, Troubled Debt Restructuring [Line Items]
Loans acquired in acquisition $ 146,777,000
Loans | Bank Shares, Inc
Financing Receivable, Troubled Debt Restructuring [Line Items]
Remaining fair value adjustment for loans acquired $ 28,900,000 $ 34,900,000
Percentage of fair value adjustment for loans acquired3.30%3.30%3.80%
PCD Loans | First Bank of the Palm Beaches
Financing Receivable, Troubled Debt Restructuring [Line Items]
Loans acquired in acquisition $ 43,000,000 $ 43,000,000 $ 43,038,000
PCD Loans | Loans | Bank Shares, Inc
Financing Receivable, Troubled Debt Restructuring [Line Items]
Remaining fair value adjustment for loans acquired1,000,000
Non-PCD Loans | First Bank of the Palm Beaches
Financing Receivable, Troubled Debt Restructuring [Line Items]
Loans acquired in acquisition $ 103,800,000 103,800,000
Non-PCD Loans | Loans | Bank Shares, Inc
Financing Receivable, Troubled Debt Restructuring [Line Items]
Remaining fair value adjustment for loans acquired $ 27,900,000

Loans - Past Due Financing Rece

Loans - Past Due Financing Receivables (Details) - USD ($) $ in ThousandsJun. 30, 2020Dec. 31, 2019
Financing Receivable, Past Due [Line Items]
Current $ 5,725,805 $ 5,163,098
Nonaccrual30,051 26,955
Loans5,772,052 5,198,404
Accruing 30-59 Days Past Due
Financing Receivable, Past Due [Line Items]
Financing receivable, recorded investment, past due9,556 7,259
Accruing 60-89 Days Past Due
Financing Receivable, Past Due [Line Items]
Financing receivable, recorded investment, past due5,541 984
Accruing Greater Than 90 Days
Financing Receivable, Past Due [Line Items]
Financing receivable, recorded investment, past due1,099 108
Construction and land development
Financing Receivable, Past Due [Line Items]
Nonaccrual606 4,936
Loans298,835 325,113
Commercial real estate
Financing Receivable, Past Due [Line Items]
Nonaccrual6,520
Loans2,378,971
Commercial real estate - owner-occupied
Financing Receivable, Past Due [Line Items]
Nonaccrual3,766
Loans1,076,650 1,000,000
Commercial real estate - non owner-occupied
Financing Receivable, Past Due [Line Items]
Nonaccrual3,132
Loans1,392,787
Residential real estate
Financing Receivable, Past Due [Line Items]
Nonaccrual12,787 9,480
Loans1,468,171 1,507,863
Commercial and financial
Financing Receivable, Past Due [Line Items]
Nonaccrual9,358 5,909
Loans757,232 778,252
Consumer
Financing Receivable, Past Due [Line Items]
Nonaccrual402 110
Loans201,927 208,205
Paycheck Protection Program
Financing Receivable, Past Due [Line Items]
Loans576,450
Portfolio Loans
Financing Receivable, Past Due [Line Items]
Current4,855,795 4,290,227
Nonaccrual22,248 20,990
Loans4,892,335 4,317,918
Portfolio Loans | Accruing 30-59 Days Past Due
Financing Receivable, Past Due [Line Items]
Financing receivable, recorded investment, past due7,920 6,040
Portfolio Loans | Accruing 60-89 Days Past Due
Financing Receivable, Past Due [Line Items]
Financing receivable, recorded investment, past due5,541 553
Portfolio Loans | Accruing Greater Than 90 Days
Financing Receivable, Past Due [Line Items]
Financing receivable, recorded investment, past due831 108
Portfolio Loans | Construction and land development
Financing Receivable, Past Due [Line Items]
Current270,070 276,984
Nonaccrual22 4,351
Loans270,715 281,335
Portfolio Loans | Construction and land development | Accruing 30-59 Days Past Due
Financing Receivable, Past Due [Line Items]
Financing receivable, recorded investment, past due0 0
Portfolio Loans | Construction and land development | Accruing 60-89 Days Past Due
Financing Receivable, Past Due [Line Items]
Financing receivable, recorded investment, past due623 0
Portfolio Loans | Construction and land development | Accruing Greater Than 90 Days
Financing Receivable, Past Due [Line Items]
Financing receivable, recorded investment, past due0 0
Portfolio Loans | Commercial real estate
Financing Receivable, Past Due [Line Items]
Current1,828,629
Nonaccrual4,356
Loans1,834,811
Portfolio Loans | Commercial real estate | Accruing 30-59 Days Past Due
Financing Receivable, Past Due [Line Items]
Financing receivable, recorded investment, past due1,606
Portfolio Loans | Commercial real estate | Accruing 60-89 Days Past Due
Financing Receivable, Past Due [Line Items]
Financing receivable, recorded investment, past due220
Portfolio Loans | Commercial real estate | Accruing Greater Than 90 Days
Financing Receivable, Past Due [Line Items]
Financing receivable, recorded investment, past due0
Portfolio Loans | Commercial real estate - owner-occupied
Financing Receivable, Past Due [Line Items]
Current829,903
Nonaccrual2,425
Loans832,943
Portfolio Loans | Commercial real estate - owner-occupied | Accruing 30-59 Days Past Due
Financing Receivable, Past Due [Line Items]
Financing receivable, recorded investment, past due0
Portfolio Loans | Commercial real estate - owner-occupied | Accruing 60-89 Days Past Due
Financing Receivable, Past Due [Line Items]
Financing receivable, recorded investment, past due0
Portfolio Loans | Commercial real estate - owner-occupied | Accruing Greater Than 90 Days
Financing Receivable, Past Due [Line Items]
Financing receivable, recorded investment, past due615
Portfolio Loans | Commercial real estate - non owner-occupied
Financing Receivable, Past Due [Line Items]
Current1,069,979
Nonaccrual2,096
Loans1,074,063
Portfolio Loans | Commercial real estate - non owner-occupied | Accruing 30-59 Days Past Due
Financing Receivable, Past Due [Line Items]
Financing receivable, recorded investment, past due1,988
Portfolio Loans | Commercial real estate - non owner-occupied | Accruing 60-89 Days Past Due
Financing Receivable, Past Due [Line Items]
Financing receivable, recorded investment, past due0
Portfolio Loans | Commercial real estate - non owner-occupied | Accruing Greater Than 90 Days
Financing Receivable, Past Due [Line Items]
Financing receivable, recorded investment, past due0
Portfolio Loans | Residential real estate
Financing Receivable, Past Due [Line Items]
Current1,230,480 1,294,778
Nonaccrual10,326 7,945
Loans1,249,368 1,304,305
Portfolio Loans | Residential real estate | Accruing 30-59 Days Past Due
Financing Receivable, Past Due [Line Items]
Financing receivable, recorded investment, past due3,729 1,564
Portfolio Loans | Residential real estate | Accruing 60-89 Days Past Due
Financing Receivable, Past Due [Line Items]
Financing receivable, recorded investment, past due4,833 18
Portfolio Loans | Residential real estate | Accruing Greater Than 90 Days
Financing Receivable, Past Due [Line Items]
Financing receivable, recorded investment, past due0 0
Portfolio Loans | Commercial and financial
Financing Receivable, Past Due [Line Items]
Current683,667 690,412
Nonaccrual6,977 4,228
Loans692,933 697,301
Portfolio Loans | Commercial and financial | Accruing 30-59 Days Past Due
Financing Receivable, Past Due [Line Items]
Financing receivable, recorded investment, past due2,034 2,553
Portfolio Loans | Commercial and financial | Accruing 60-89 Days Past Due
Financing Receivable, Past Due [Line Items]
Financing receivable, recorded investment, past due39 0
Portfolio Loans | Commercial and financial | Accruing Greater Than 90 Days
Financing Receivable, Past Due [Line Items]
Financing receivable, recorded investment, past due216 108
Portfolio Loans | Consumer
Financing Receivable, Past Due [Line Items]
Current195,246 199,424
Nonaccrual402 110
Loans195,863 200,166
Portfolio Loans | Consumer | Accruing 30-59 Days Past Due
Financing Receivable, Past Due [Line Items]
Financing receivable, recorded investment, past due169 317
Portfolio Loans | Consumer | Accruing 60-89 Days Past Due
Financing Receivable, Past Due [Line Items]
Financing receivable, recorded investment, past due46 315
Portfolio Loans | Consumer | Accruing Greater Than 90 Days
Financing Receivable, Past Due [Line Items]
Financing receivable, recorded investment, past due0 0
Portfolio Loans | Paycheck Protection Program
Financing Receivable, Past Due [Line Items]
Current576,450
Nonaccrual0
Loans576,450
Portfolio Loans | Paycheck Protection Program | Accruing 30-59 Days Past Due
Financing Receivable, Past Due [Line Items]
Financing receivable, recorded investment, past due0
Portfolio Loans | Paycheck Protection Program | Accruing 60-89 Days Past Due
Financing Receivable, Past Due [Line Items]
Financing receivable, recorded investment, past due0
Portfolio Loans | Paycheck Protection Program | Accruing Greater Than 90 Days
Financing Receivable, Past Due [Line Items]
Financing receivable, recorded investment, past due0
Acquired Non-PCD Loans
Financing Receivable, Past Due [Line Items]
Current862,272
Nonaccrual3,898
Loans867,820
Acquired Non-PCD Loans | Accruing 30-59 Days Past Due
Financing Receivable, Past Due [Line Items]
Financing receivable, recorded investment, past due1,219
Acquired Non-PCD Loans | Accruing 60-89 Days Past Due
Financing Receivable, Past Due [Line Items]
Financing receivable, recorded investment, past due431
Acquired Non-PCD Loans | Accruing Greater Than 90 Days
Financing Receivable, Past Due [Line Items]
Financing receivable, recorded investment, past due0
Acquired Non-PCD Loans | Construction and land development
Financing Receivable, Past Due [Line Items]
Current43,044
Nonaccrual574
Loans43,618
Acquired Non-PCD Loans | Construction and land development | Accruing 30-59 Days Past Due
Financing Receivable, Past Due [Line Items]
Financing receivable, recorded investment, past due0
Acquired Non-PCD Loans | Construction and land development | Accruing 60-89 Days Past Due
Financing Receivable, Past Due [Line Items]
Financing receivable, recorded investment, past due0
Acquired Non-PCD Loans | Construction and land development | Accruing Greater Than 90 Days
Financing Receivable, Past Due [Line Items]
Financing receivable, recorded investment, past due0
Acquired Non-PCD Loans | Commercial real estate
Financing Receivable, Past Due [Line Items]
Current531,325
Nonaccrual1,245
Loans533,943
Acquired Non-PCD Loans | Commercial real estate | Accruing 30-59 Days Past Due
Financing Receivable, Past Due [Line Items]
Financing receivable, recorded investment, past due942
Acquired Non-PCD Loans | Commercial real estate | Accruing 60-89 Days Past Due
Financing Receivable, Past Due [Line Items]
Financing receivable, recorded investment, past due431
Acquired Non-PCD Loans | Commercial real estate | Accruing Greater Than 90 Days
Financing Receivable, Past Due [Line Items]
Financing receivable, recorded investment, past due0
Acquired Non-PCD Loans | Residential real estate
Financing Receivable, Past Due [Line Items]
Current201,159
Nonaccrual412
Loans201,848
Acquired Non-PCD Loans | Residential real estate | Accruing 30-59 Days Past Due
Financing Receivable, Past Due [Line Items]
Financing receivable, recorded investment, past due277
Acquired Non-PCD Loans | Residential real estate | Accruing 60-89 Days Past Due
Financing Receivable, Past Due [Line Items]
Financing receivable, recorded investment, past due0
Acquired Non-PCD Loans | Residential real estate | Accruing Greater Than 90 Days
Financing Receivable, Past Due [Line Items]
Financing receivable, recorded investment, past due0
Acquired Non-PCD Loans | Commercial and financial
Financing Receivable, Past Due [Line Items]
Current78,705
Nonaccrual1,667
Loans80,372
Acquired Non-PCD Loans | Commercial and financial | Accruing 30-59 Days Past Due
Financing Receivable, Past Due [Line Items]
Financing receivable, recorded investment, past due0
Acquired Non-PCD Loans | Commercial and financial | Accruing 60-89 Days Past Due
Financing Receivable, Past Due [Line Items]
Financing receivable, recorded investment, past due0
Acquired Non-PCD Loans | Commercial and financial | Accruing Greater Than 90 Days
Financing Receivable, Past Due [Line Items]
Financing receivable, recorded investment, past due0
Acquired Non-PCD Loans | Consumer
Financing Receivable, Past Due [Line Items]
Current8,039
Nonaccrual0
Loans8,039
Acquired Non-PCD Loans | Consumer | Accruing 30-59 Days Past Due
Financing Receivable, Past Due [Line Items]
Financing receivable, recorded investment, past due0
Acquired Non-PCD Loans | Consumer | Accruing 60-89 Days Past Due
Financing Receivable, Past Due [Line Items]
Financing receivable, recorded investment, past due0
Acquired Non-PCD Loans | Consumer | Accruing Greater Than 90 Days
Financing Receivable, Past Due [Line Items]
Financing receivable, recorded investment, past due0
PCD Loans
Financing Receivable, Past Due [Line Items]
Current10,599
Nonaccrual2,067
Loans12,666
PCD Loans | Accruing 30-59 Days Past Due
Financing Receivable, Past Due [Line Items]
Financing receivable, recorded investment, past due0
PCD Loans | Accruing 60-89 Days Past Due
Financing Receivable, Past Due [Line Items]
Financing receivable, recorded investment, past due0
PCD Loans | Accruing Greater Than 90 Days
Financing Receivable, Past Due [Line Items]
Financing receivable, recorded investment, past due0
PCD Loans | Construction and land development
Financing Receivable, Past Due [Line Items]
Current148
Nonaccrual12
Loans160
PCD Loans | Construction and land development | Accruing 30-59 Days Past Due
Financing Receivable, Past Due [Line Items]
Financing receivable, recorded investment, past due0
PCD Loans | Construction and land development | Accruing 60-89 Days Past Due
Financing Receivable, Past Due [Line Items]
Financing receivable, recorded investment, past due0
PCD Loans | Construction and land development | Accruing Greater Than 90 Days
Financing Receivable, Past Due [Line Items]
Financing receivable, recorded investment, past due0
PCD Loans | Commercial real estate
Financing Receivable, Past Due [Line Items]
Current9,298
Nonaccrual919
Loans10,217
PCD Loans | Commercial real estate | Accruing 30-59 Days Past Due
Financing Receivable, Past Due [Line Items]
Financing receivable, recorded investment, past due0
PCD Loans | Commercial real estate | Accruing 60-89 Days Past Due
Financing Receivable, Past Due [Line Items]
Financing receivable, recorded investment, past due0
PCD Loans | Commercial real estate | Accruing Greater Than 90 Days
Financing Receivable, Past Due [Line Items]
Financing receivable, recorded investment, past due0
PCD Loans | Residential real estate
Financing Receivable, Past Due [Line Items]
Current587
Nonaccrual1,123
Loans1,710
PCD Loans | Residential real estate | Accruing 30-59 Days Past Due
Financing Receivable, Past Due [Line Items]
Financing receivable, recorded investment, past due0
PCD Loans | Residential real estate | Accruing 60-89 Days Past Due
Financing Receivable, Past Due [Line Items]
Financing receivable, recorded investment, past due0
PCD Loans | Residential real estate | Accruing Greater Than 90 Days
Financing Receivable, Past Due [Line Items]
Financing receivable, recorded investment, past due0
PCD Loans | Commercial and financial
Financing Receivable, Past Due [Line Items]
Current566
Nonaccrual13
Loans579
PCD Loans | Commercial and financial | Accruing 30-59 Days Past Due
Financing Receivable, Past Due [Line Items]
Financing receivable, recorded investment, past due0
PCD Loans | Commercial and financial | Accruing 60-89 Days Past Due
Financing Receivable, Past Due [Line Items]
Financing receivable, recorded investment, past due0
PCD Loans | Commercial and financial | Accruing Greater Than 90 Days
Financing Receivable, Past Due [Line Items]
Financing receivable, recorded investment, past due0
PCD Loans | Consumer
Financing Receivable, Past Due [Line Items]
Current0
Nonaccrual0
Loans0
PCD Loans | Consumer | Accruing 30-59 Days Past Due
Financing Receivable, Past Due [Line Items]
Financing receivable, recorded investment, past due0
PCD Loans | Consumer | Accruing 60-89 Days Past Due
Financing Receivable, Past Due [Line Items]
Financing receivable, recorded investment, past due0
PCD Loans | Consumer | Accruing Greater Than 90 Days
Financing Receivable, Past Due [Line Items]
Financing receivable, recorded investment, past due $ 0
Acquired Non-PCD Loans
Financing Receivable, Past Due [Line Items]
Current821,041
Nonaccrual5,530
Loans828,388
Acquired Non-PCD Loans | Accruing 30-59 Days Past Due
Financing Receivable, Past Due [Line Items]
Financing receivable, recorded investment, past due1,549
Acquired Non-PCD Loans | Accruing 60-89 Days Past Due
Financing Receivable, Past Due [Line Items]
Financing receivable, recorded investment, past due0
Acquired Non-PCD Loans | Accruing Greater Than 90 Days
Financing Receivable, Past Due [Line Items]
Financing receivable, recorded investment, past due268
Acquired Non-PCD Loans | Construction and land development
Financing Receivable, Past Due [Line Items]
Current25,117
Nonaccrual574
Loans25,691
Acquired Non-PCD Loans | Construction and land development | Accruing 30-59 Days Past Due
Financing Receivable, Past Due [Line Items]
Financing receivable, recorded investment, past due0
Acquired Non-PCD Loans | Construction and land development | Accruing 60-89 Days Past Due
Financing Receivable, Past Due [Line Items]
Financing receivable, recorded investment, past due0
Acquired Non-PCD Loans | Construction and land development | Accruing Greater Than 90 Days
Financing Receivable, Past Due [Line Items]
Financing receivable, recorded investment, past due0
Acquired Non-PCD Loans | Commercial real estate - owner-occupied
Financing Receivable, Past Due [Line Items]
Current213,731
Nonaccrual1,341
Loans216,598
Acquired Non-PCD Loans | Commercial real estate - owner-occupied | Accruing 30-59 Days Past Due
Financing Receivable, Past Due [Line Items]
Financing receivable, recorded investment, past due1,526
Acquired Non-PCD Loans | Commercial real estate - owner-occupied | Accruing 60-89 Days Past Due
Financing Receivable, Past Due [Line Items]
Financing receivable, recorded investment, past due0
Acquired Non-PCD Loans | Commercial real estate - owner-occupied | Accruing Greater Than 90 Days
Financing Receivable, Past Due [Line Items]
Financing receivable, recorded investment, past due0
Acquired Non-PCD Loans | Commercial real estate - non owner-occupied
Financing Receivable, Past Due [Line Items]
Current306,612
Nonaccrual0
Loans306,880
Acquired Non-PCD Loans | Commercial real estate - non owner-occupied | Accruing 30-59 Days Past Due
Financing Receivable, Past Due [Line Items]
Financing receivable, recorded investment, past due0
Acquired Non-PCD Loans | Commercial real estate - non owner-occupied | Accruing 60-89 Days Past Due
Financing Receivable, Past Due [Line Items]
Financing receivable, recorded investment, past due0
Acquired Non-PCD Loans | Commercial real estate - non owner-occupied | Accruing Greater Than 90 Days
Financing Receivable, Past Due [Line Items]
Financing receivable, recorded investment, past due268
Acquired Non-PCD Loans | Residential real estate
Financing Receivable, Past Due [Line Items]
Current208,963
Nonaccrual1,284
Loans210,247
Acquired Non-PCD Loans | Residential real estate | Accruing 30-59 Days Past Due
Financing Receivable, Past Due [Line Items]
Financing receivable, recorded investment, past due0
Acquired Non-PCD Loans | Residential real estate | Accruing 60-89 Days Past Due
Financing Receivable, Past Due [Line Items]
Financing receivable, recorded investment, past due0
Acquired Non-PCD Loans | Residential real estate | Accruing Greater Than 90 Days
Financing Receivable, Past Due [Line Items]
Financing receivable, recorded investment, past due0
Acquired Non-PCD Loans | Commercial and financial
Financing Receivable, Past Due [Line Items]
Current60,941
Nonaccrual2,331
Loans63,272
Acquired Non-PCD Loans | Commercial and financial | Accruing 30-59 Days Past Due
Financing Receivable, Past Due [Line Items]
Financing receivable, recorded investment, past due0
Acquired Non-PCD Loans | Commercial and financial | Accruing 60-89 Days Past Due
Financing Receivable, Past Due [Line Items]
Financing receivable, recorded investment, past due0
Acquired Non-PCD Loans | Commercial and financial | Accruing Greater Than 90 Days
Financing Receivable, Past Due [Line Items]
Financing receivable, recorded investment, past due0
Acquired Non-PCD Loans | Consumer
Financing Receivable, Past Due [Line Items]
Current5,677
Nonaccrual0
Loans5,700
Acquired Non-PCD Loans | Consumer | Accruing 30-59 Days Past Due
Financing Receivable, Past Due [Line Items]
Financing receivable, recorded investment, past due23
Acquired Non-PCD Loans | Consumer | Accruing 60-89 Days Past Due
Financing Receivable, Past Due [Line Items]
Financing receivable, recorded investment, past due0
Acquired Non-PCD Loans | Consumer | Accruing Greater Than 90 Days
Financing Receivable, Past Due [Line Items]
Financing receivable, recorded investment, past due0
Acquired Non-PCD Loans | Paycheck Protection Program
Financing Receivable, Past Due [Line Items]
Loans0
PCD Loans
Financing Receivable, Past Due [Line Items]
Current48,969
Nonaccrual2,273
Loans51,329
PCD Loans | Accruing 30-59 Days Past Due
Financing Receivable, Past Due [Line Items]
Financing receivable, recorded investment, past due87
PCD Loans | Accruing 60-89 Days Past Due
Financing Receivable, Past Due [Line Items]
Financing receivable, recorded investment, past due0
PCD Loans | Accruing Greater Than 90 Days
Financing Receivable, Past Due [Line Items]
Financing receivable, recorded investment, past due0
PCD Loans | Construction and land development
Financing Receivable, Past Due [Line Items]
Current2,419
Nonaccrual10
Loans2,429
PCD Loans | Construction and land development | Accruing 30-59 Days Past Due
Financing Receivable, Past Due [Line Items]
Financing receivable, recorded investment, past due0
PCD Loans | Construction and land development | Accruing 60-89 Days Past Due
Financing Receivable, Past Due [Line Items]
Financing receivable, recorded investment, past due0
PCD Loans | Construction and land development | Accruing Greater Than 90 Days
Financing Receivable, Past Due [Line Items]
Financing receivable, recorded investment, past due0
PCD Loans | Commercial real estate - owner-occupied
Financing Receivable, Past Due [Line Items]
Current27,109
Nonaccrual0
Loans27,109
PCD Loans | Commercial real estate - owner-occupied | Accruing 30-59 Days Past Due
Financing Receivable, Past Due [Line Items]
Financing receivable, recorded investment, past due0
PCD Loans | Commercial real estate - owner-occupied | Accruing 60-89 Days Past Due
Financing Receivable, Past Due [Line Items]
Financing receivable, recorded investment, past due0
PCD Loans | Commercial real estate - owner-occupied | Accruing Greater Than 90 Days
Financing Receivable, Past Due [Line Items]
Financing receivable, recorded investment, past due0
PCD Loans | Commercial real estate - non owner-occupied
Financing Receivable, Past Due [Line Items]
Current10,808
Nonaccrual1,036
Loans11,844
PCD Loans | Commercial real estate - non owner-occupied | Accruing 30-59 Days Past Due
Financing Receivable, Past Due [Line Items]
Financing receivable, recorded investment, past due0
PCD Loans | Commercial real estate - non owner-occupied | Accruing 60-89 Days Past Due
Financing Receivable, Past Due [Line Items]
Financing receivable, recorded investment, past due0
PCD Loans | Commercial real estate - non owner-occupied | Accruing Greater Than 90 Days
Financing Receivable, Past Due [Line Items]
Financing receivable, recorded investment, past due0
PCD Loans | Residential real estate
Financing Receivable, Past Due [Line Items]
Current7,379
Nonaccrual1,177
Loans8,556
PCD Loans | Residential real estate | Accruing 30-59 Days Past Due
Financing Receivable, Past Due [Line Items]
Financing receivable, recorded investment, past due0
PCD Loans | Residential real estate | Accruing 60-89 Days Past Due
Financing Receivable, Past Due [Line Items]
Financing receivable, recorded investment, past due0
PCD Loans | Residential real estate | Accruing Greater Than 90 Days
Financing Receivable, Past Due [Line Items]
Financing receivable, recorded investment, past due0
PCD Loans | Commercial and financial
Financing Receivable, Past Due [Line Items]
Current977
Nonaccrual50
Loans1,027
PCD Loans | Commercial and financial | Accruing 30-59 Days Past Due
Financing Receivable, Past Due [Line Items]
Financing receivable, recorded investment, past due0
PCD Loans | Commercial and financial | Accruing 60-89 Days Past Due
Financing Receivable, Past Due [Line Items]
Financing receivable, recorded investment, past due0
PCD Loans | Commercial and financial | Accruing Greater Than 90 Days
Financing Receivable, Past Due [Line Items]
Financing receivable, recorded investment, past due0
PCD Loans | Consumer
Financing Receivable, Past Due [Line Items]
Current277
Nonaccrual0
Loans364
PCD Loans | Consumer | Accruing 30-59 Days Past Due
Financing Receivable, Past Due [Line Items]
Financing receivable, recorded investment, past due87
PCD Loans | Consumer | Accruing 60-89 Days Past Due
Financing Receivable, Past Due [Line Items]
Financing receivable, recorded investment, past due0
PCD Loans | Consumer | Accruing Greater Than 90 Days
Financing Receivable, Past Due [Line Items]
Financing receivable, recorded investment, past due0
PCD Loans | Paycheck Protection Program
Financing Receivable, Past Due [Line Items]
Loans $ 0

Loans - Schedule of Nonaccrual

Loans - Schedule of Nonaccrual Loans by Loan Category (Details) - USD ($) $ in ThousandsJun. 30, 2020Dec. 31, 2019
Financing Receivable, Nonaccrual [Line Items]
Nonaccrual loans with no related allowance for credit losses $ 22,837 $ 23,301
Nonaccrual loans with allowance for credit losses7,214 3,654
Nonaccrual loans with no related allowance for credit losses, total loans30,051 26,955
Nonaccrual loans, allowance for credit losses4,663 2,384
Construction and land development
Financing Receivable, Nonaccrual [Line Items]
Nonaccrual loans with no related allowance for credit losses585 4,913
Nonaccrual loans with allowance for credit losses21 23
Nonaccrual loans with no related allowance for credit losses, total loans606 4,936
Nonaccrual loans, allowance for credit losses11 12
Commercial real estate - owner-occupied
Financing Receivable, Nonaccrual [Line Items]
Nonaccrual loans with no related allowance for credit losses3,445
Nonaccrual loans with allowance for credit losses321
Nonaccrual loans with no related allowance for credit losses, total loans3,766
Nonaccrual loans, allowance for credit losses160
Commercial real estate - non owner-occupied
Financing Receivable, Nonaccrual [Line Items]
Nonaccrual loans with no related allowance for credit losses2,096
Nonaccrual loans with allowance for credit losses1,036
Nonaccrual loans with no related allowance for credit losses, total loans3,132
Nonaccrual loans, allowance for credit losses204
Commercial real estate
Financing Receivable, Nonaccrual [Line Items]
Nonaccrual loans with no related allowance for credit losses6,200
Nonaccrual loans with allowance for credit losses320
Nonaccrual loans with no related allowance for credit losses, total loans6,520
Nonaccrual loans, allowance for credit losses149
Residential real estate
Financing Receivable, Nonaccrual [Line Items]
Nonaccrual loans with no related allowance for credit losses11,871 8,700
Nonaccrual loans with allowance for credit losses916 780
Nonaccrual loans with no related allowance for credit losses, total loans12,787 9,480
Nonaccrual loans, allowance for credit losses793 564
Commercial and financial
Financing Receivable, Nonaccrual [Line Items]
Nonaccrual loans with no related allowance for credit losses4,808 3,449
Nonaccrual loans with allowance for credit losses4,550 2,460
Nonaccrual loans with no related allowance for credit losses, total loans9,358 5,909
Nonaccrual loans, allowance for credit losses3,409 1,622
Consumer
Financing Receivable, Nonaccrual [Line Items]
Nonaccrual loans with no related allowance for credit losses32 39
Nonaccrual loans with allowance for credit losses370 71
Nonaccrual loans with no related allowance for credit losses, total loans402 110
Nonaccrual loans, allowance for credit losses $ 86 $ 37

Loans - Schedule of Loans in De

Loans - Schedule of Loans in Deferral (Details) - Paycheck Protection Program $ in ThousandsJun. 30, 2020USD ($)
Financing Receivable, Nonaccrual [Line Items]
Value of loans deferred, not classified as TDRs $ 1,077,043
Percentage on payment deferral21.00%
Construction and land development
Financing Receivable, Nonaccrual [Line Items]
Value of loans deferred, not classified as TDRs $ 14,488
Percentage on payment deferral5.00%
Commercial real estate - owner-occupied
Financing Receivable, Nonaccrual [Line Items]
Value of loans deferred, not classified as TDRs $ 320,406
Percentage on payment deferral30.00%
Commercial real estate - non owner-occupied
Financing Receivable, Nonaccrual [Line Items]
Value of loans deferred, not classified as TDRs $ 445,311
Percentage on payment deferral32.00%
Residential real estate
Financing Receivable, Nonaccrual [Line Items]
Value of loans deferred, not classified as TDRs $ 148,035
Percentage on payment deferral10.00%
Commercial and financial
Financing Receivable, Nonaccrual [Line Items]
Value of loans deferred, not classified as TDRs $ 130,877
Percentage on payment deferral17.00%
Consumer
Financing Receivable, Nonaccrual [Line Items]
Value of loans deferred, not classified as TDRs $ 17,926
Percentage on payment deferral9.00%

Loans - Schedule of Collateral

Loans - Schedule of Collateral Dependent Loans (Details) - USD ($) $ in ThousandsJun. 30, 2020Dec. 31, 2019
Financing Receivable, Allowance for Credit Loss [Line Items]
Total collateral dependent loans $ 30,434 $ 26,678
Construction and land development
Financing Receivable, Allowance for Credit Loss [Line Items]
Total collateral dependent loans634 4,926
Commercial real estate - owner-occupied
Financing Receivable, Allowance for Credit Loss [Line Items]
Total collateral dependent loans6,173 2,571
Commercial real estate - non owner-occupied
Financing Receivable, Allowance for Credit Loss [Line Items]
Total collateral dependent loans3,574 3,152
Residential real estate
Financing Receivable, Allowance for Credit Loss [Line Items]
Total collateral dependent loans14,117 11,550
Commercial and financial
Financing Receivable, Allowance for Credit Loss [Line Items]
Total collateral dependent loans5,526 4,338
Consumer
Financing Receivable, Allowance for Credit Loss [Line Items]
Total collateral dependent loans $ 410 $ 141

Loans - Risk Categories of Loan

Loans - Risk Categories of Loans by Class of Loans (Details) - USD ($) $ in ThousandsJun. 30, 2020Dec. 31, 2019
Financing Receivable, Credit Quality Indicator [Line Items]
2020 $ 923,194
2019975,533
2018885,466
2017707,402
2016662,295
Prior1,039,260
Revolving578,902
Total5,772,052 $ 5,198,404
Pass
Financing Receivable, Credit Quality Indicator [Line Items]
2020922,672
2019971,272
2018873,927
2017693,075
2016633,485
Prior994,588
Revolving564,537
Total5,653,556 5,091,691
Special Mention
Financing Receivable, Credit Quality Indicator [Line Items]
2020397
20192,724
20181,698
20173,786
201615,829
Prior10,315
Revolving3,000
Total37,749 51,560
Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
20200
2019148
20187,946
20174,060
20169,825
Prior14,869
Revolving6,357
Total43,205 53,958
Substandard Impaired
Financing Receivable, Credit Quality Indicator [Line Items]
2020125
20191,389
20181,895
20176,442
20162,835
Prior19,488
Revolving4,999
Total37,173
Doubtful
Financing Receivable, Credit Quality Indicator [Line Items]
20200
20190
20180
201739
2016321
Prior0
Revolving9
Total369 1,195
Construction and land development
Financing Receivable, Credit Quality Indicator [Line Items]
202029,610
201996,052
201871,906
201735,172
201611,052
Prior20,616
Revolving34,427
Total298,835 325,113
Construction and land development | Pass
Financing Receivable, Credit Quality Indicator [Line Items]
202029,412
201995,549
201870,528
201735,134
201610,478
Prior18,260
Revolving33,439
Total292,800 317,765
Construction and land development | Special Mention
Financing Receivable, Credit Quality Indicator [Line Items]
2020198
2019503
20181,378
201738
20160
Prior2,147
Revolving0
Total4,264 2,235
Construction and land development | Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
20200
20190
20180
20170
20160
Prior58
Revolving988
Total1,046 5,113
Construction and land development | Substandard Impaired
Financing Receivable, Credit Quality Indicator [Line Items]
20200
20190
20180
20170
2016574
Prior151
Revolving0
Total725
Construction and land development | Doubtful
Financing Receivable, Credit Quality Indicator [Line Items]
20200
20190
20180
20170
20160
Prior0
Revolving0
Total0 0
Commercial real estate - owner-occupied
Financing Receivable, Credit Quality Indicator [Line Items]
202074,503
2019187,333
2018158,516
2017145,160
2016164,586
Prior330,600
Revolving15,952
Total1,076,650 1,000,000
Commercial real estate - owner-occupied | Pass
Financing Receivable, Credit Quality Indicator [Line Items]
202074,304
2019185,717
2018157,946
2017139,936
2016158,728
Prior317,778
Revolving15,952
Total1,050,361
Commercial real estate - owner-occupied | Special Mention
Financing Receivable, Credit Quality Indicator [Line Items]
2020199
20191,616
20180
20171,016
20164,471
Prior4,088
Revolving0
Total11,390
Commercial real estate - owner-occupied | Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
20200
20190
2018570
20173,782
20161,066
Prior5,100
Revolving0
Total10,518
Commercial real estate - owner-occupied | Substandard Impaired
Financing Receivable, Credit Quality Indicator [Line Items]
20200
20190
20180
2017426
20160
Prior3,634
Revolving0
Total4,060
Commercial real estate - owner-occupied | Doubtful
Financing Receivable, Credit Quality Indicator [Line Items]
20200
20190
20180
20170
2016321
Prior0
Revolving0
Total321
Commercial real estate - non owner-occupied
Financing Receivable, Credit Quality Indicator [Line Items]
202080,710
2019321,949
2018235,981
2017131,813
2016213,026
Prior401,808
Revolving7,500
Total1,392,787
Commercial real estate - non owner-occupied | Pass
Financing Receivable, Credit Quality Indicator [Line Items]
202080,710
2019321,844
2018230,276
2017130,437
2016196,698
Prior390,280
Revolving6,150
Total1,356,395
Commercial real estate - non owner-occupied | Special Mention
Financing Receivable, Credit Quality Indicator [Line Items]
20200
2019105
20180
20171,376
20167,876
Prior1,117
Revolving0
Total10,474
Commercial real estate - non owner-occupied | Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
20200
20190
20185,705
20170
20168,326
Prior6,367
Revolving1,350
Total21,748
Commercial real estate - non owner-occupied | Substandard Impaired
Financing Receivable, Credit Quality Indicator [Line Items]
20200
20190
20180
20170
2016126
Prior4,044
Revolving0
Total4,170
Commercial real estate - non owner-occupied | Doubtful
Financing Receivable, Credit Quality Indicator [Line Items]
20200
20190
20180
20170
20160
Prior0
Revolving0
Total0
Commercial real estate
Financing Receivable, Credit Quality Indicator [Line Items]
Total2,378,971
Commercial real estate | Pass
Financing Receivable, Credit Quality Indicator [Line Items]
Total2,331,725
Commercial real estate | Special Mention
Financing Receivable, Credit Quality Indicator [Line Items]
Total26,827
Commercial real estate | Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
Total20,098
Commercial real estate | Doubtful
Financing Receivable, Credit Quality Indicator [Line Items]
Total321
Residential real estate
Financing Receivable, Credit Quality Indicator [Line Items]
202032,646
2019160,940
2018263,368
2017278,163
2016200,049
Prior215,431
Revolving317,574
Total1,468,171 1,507,863
Residential real estate | Pass
Financing Receivable, Credit Quality Indicator [Line Items]
202032,562
2019160,057
2018261,757
2017273,829
2016196,662
Prior202,708
Revolving312,596
Total1,440,171 1,482,278
Residential real estate | Special Mention
Financing Receivable, Credit Quality Indicator [Line Items]
20200
2019190
2018277
2017721
20163,387
Prior621
Revolving68
Total5,264 7,364
Residential real estate | Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
20200
20190
20181,334
20170
20160
Prior1,607
Revolving1,580
Total4,521 18,221
Residential real estate | Substandard Impaired
Financing Receivable, Credit Quality Indicator [Line Items]
202084
2019693
20180
20173,613
20160
Prior10,495
Revolving3,330
Total18,215
Residential real estate | Doubtful
Financing Receivable, Credit Quality Indicator [Line Items]
20200
20190
20180
20170
20160
Prior0
Revolving0
Total0 0
Commercial and financial
Financing Receivable, Credit Quality Indicator [Line Items]
2020100,094
2019153,588
2018117,202
201791,679
201647,067
Prior57,469
Revolving190,133
Total757,232 778,252
Commercial and financial | Pass
Financing Receivable, Credit Quality Indicator [Line Items]
2020100,094
2019152,509
2018115,004
201788,448
201644,728
Prior52,576
Revolving185,175
Total738,534 755,957
Commercial and financial | Special Mention
Financing Receivable, Credit Quality Indicator [Line Items]
20200
2019287
201814
2017530
201695
Prior2,255
Revolving1,181
Total4,362 11,925
Commercial and financial | Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
20200
2019148
2018337
2017259
2016425
Prior1,698
Revolving2,099
Total4,966 9,496
Commercial and financial | Substandard Impaired
Financing Receivable, Credit Quality Indicator [Line Items]
20200
2019644
20181,847
20172,403
20161,819
Prior940
Revolving1,669
Total9,322
Commercial and financial | Doubtful
Financing Receivable, Credit Quality Indicator [Line Items]
20200
20190
20180
201739
20160
Prior0
Revolving9
Total48 874
Consumer
Financing Receivable, Credit Quality Indicator [Line Items]
202029,181
201955,671
201838,493
201725,415
201626,515
Prior13,336
Revolving13,316
Total201,927 208,205
Consumer | Pass
Financing Receivable, Credit Quality Indicator [Line Items]
202029,140
201955,596
201838,416
201725,291
201626,191
Prior12,986
Revolving11,225
Total198,845 203,966
Consumer | Special Mention
Financing Receivable, Credit Quality Indicator [Line Items]
20200
201923
201829
2017105
20160
Prior87
Revolving1,751
Total1,995 3,209
Consumer | Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
20200
20190
20180
201719
20168
Prior39
Revolving340
Total406 1,030
Consumer | Substandard Impaired
Financing Receivable, Credit Quality Indicator [Line Items]
202041
201952
201848
20170
2016316
Prior224
Revolving0
Total681
Consumer | Doubtful
Financing Receivable, Credit Quality Indicator [Line Items]
20200
20190
20180
20170
20160
Prior0
Revolving0
Total0 $ 0
Paycheck Protection Program
Financing Receivable, Credit Quality Indicator [Line Items]
2020576,450
20190
20180
20170
20160
Prior0
Revolving0
Total576,450
Paycheck Protection Program | Pass
Financing Receivable, Credit Quality Indicator [Line Items]
2020576,450
20190
20180
20170
20160
Prior0
Revolving0
Total $ 576,450

Loans - Troubled Debt Restructu

Loans - Troubled Debt Restructuring (Details) $ in Thousands3 Months Ended6 Months Ended12 Months Ended
Jun. 30, 2020USD ($)contractJun. 30, 2019USD ($)contractJun. 30, 2020USD ($)contractJun. 30, 2019USD ($)contractDec. 31, 2019USD ($)contract
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of Contracts | contract3 2 8 4 3
Pre- Modification Outstanding Recorded Investment $ 59 $ 370 $ 541 $ 2,365
Post- Modification Outstanding Recorded Investment $ 59 $ 370 $ 541 $ 2,365 $ 1,400
Construction and land development
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of Contracts | contract1 0 1 0
Pre- Modification Outstanding Recorded Investment $ 12 $ 0 $ 12 $ 0
Post- Modification Outstanding Recorded Investment $ 12 $ 0 $ 12 $ 0
Commercial real estate - owner-occupied
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of Contracts | contract0 1 0 2
Pre- Modification Outstanding Recorded Investment $ 0 $ 351 $ 0 $ 2,166
Post- Modification Outstanding Recorded Investment $ 0 $ 351 $ 0 $ 2,166
Commercial real estate - non owner-occupied
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of Contracts | contract0 0 0 0
Pre- Modification Outstanding Recorded Investment $ 0 $ 0 $ 0 $ 0
Post- Modification Outstanding Recorded Investment $ 0 $ 0 $ 0 $ 0
Residential real estate
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of Contracts | contract0 0 1 0
Pre- Modification Outstanding Recorded Investment $ 0 $ 0 $ 45 $ 0
Post- Modification Outstanding Recorded Investment $ 0 $ 0 $ 45 $ 0
Commercial and financial
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of Contracts | contract0 0 4 1
Pre- Modification Outstanding Recorded Investment $ 0 $ 0 $ 437 $ 180
Post- Modification Outstanding Recorded Investment $ 0 $ 0 $ 437 $ 180
Consumer
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of Contracts | contract2 1 2 1
Pre- Modification Outstanding Recorded Investment $ 47 $ 19 $ 47 $ 19
Post- Modification Outstanding Recorded Investment $ 47 $ 19 $ 47 $ 19

Allowance for Credit Losses - A

Allowance for Credit Losses - Activity in Allowance for Loan Losses (Details) - USD ($) $ in ThousandsJan. 01, 2020Jun. 30, 2020Jun. 30, 2019Jun. 30, 2020Jun. 30, 2019
Allowance for Loan and Lease Losses [Roll Forward]
Beginning Balance $ 35,154 $ 85,411 $ 32,822 $ 35,154 $ 32,423
Initial Allowance on PCD Loans Acquired During the Period516
Provision for Credit Losses7,611 2,551 37,124 3,948
Charge- Offs(2,495)(2,644)(4,141)(4,123)
Recoveries744 803 1,417 1,319
TDR Allowance Adjustments(21)(27)(46)(62)
Ending Balance91,250 33,505 $ 91,250 33,505
Accounting Standards Update [Extensible List]us-gaap:AccountingStandardsUpdate201613Member
Construction and land development
Allowance for Loan and Lease Losses [Roll Forward]
Beginning Balance1,842 4,646 2,320 $ 1,842 2,233
Initial Allowance on PCD Loans Acquired During the Period48
Provision for Credit Losses2,478 (79)3,727 4
Charge- Offs0 (1)0 0
Recoveries37 3 66 7
TDR Allowance Adjustments0 0 (1)(1)
Ending Balance7,161 2,243 7,161 2,243
Commercial real estate - owner-occupied
Allowance for Loan and Lease Losses [Roll Forward]
Beginning Balance5,361 5,327 5,361
Initial Allowance on PCD Loans Acquired During the Period207
Provision for Credit Losses229 (34)
Charge- Offs0 (45)
Recoveries18 18
TDR Allowance Adjustments(12)(25)
Ending Balance5,562 5,562
Commercial real estate - non owner-occupied
Allowance for Loan and Lease Losses [Roll Forward]
Beginning Balance7,863 35,643 7,863
Initial Allowance on PCD Loans Acquired During the Period140
Provision for Credit Losses3,345 21,628
Charge- Offs0 (12)
Recoveries4 32
TDR Allowance Adjustments0 0
Ending Balance38,992 38,992
Commercial real estate
Allowance for Loan and Lease Losses [Roll Forward]
Beginning Balance13,224 11,753 13,224 11,112
Provision for Credit Losses(433)192
Charge- Offs0 (16)
Recoveries565 612
TDR Allowance Adjustments(15)(30)
Ending Balance11,870 11,870
Residential real estate
Allowance for Loan and Lease Losses [Roll Forward]
Beginning Balance7,667 19,899 7,445 7,667 7,775
Initial Allowance on PCD Loans Acquired During the Period97
Provision for Credit Losses574 51 6,834 (363)
Charge- Offs(113)(28)(131)(65)
Recoveries101 51 218 190
TDR Allowance Adjustments(8)(11)(19)(29)
Ending Balance20,453 7,508 20,453 7,508
Commercial and financial
Allowance for Loan and Lease Losses [Roll Forward]
Beginning Balance9,716 15,470 8,573 9,716 8,585
Initial Allowance on PCD Loans Acquired During the Period11
Provision for Credit Losses1,319 2,114 4,063 2,967
Charge- Offs(1,768)(1,881)(2,866)(2,825)
Recoveries493 106 913 185
TDR Allowance Adjustments0 0 0 0
Ending Balance15,514 8,912 15,514 8,912
Consumer
Allowance for Loan and Lease Losses [Roll Forward]
Beginning Balance2,705 4,426 2,731 2,705 2,718
Initial Allowance on PCD Loans Acquired During the Period13
Provision for Credit Losses(334)898 906 1,148
Charge- Offs(614)(734)(1,087)(1,217)
Recoveries91 78 170 325
TDR Allowance Adjustments(1)(1)(1)(2)
Ending Balance3,568 $ 2,972 3,568 $ 2,972
Paycheck Protection Program
Allowance for Loan and Lease Losses [Roll Forward]
Beginning Balance0 0 0
Initial Allowance on PCD Loans Acquired During the Period0
Provision for Credit Losses0 0
Charge- Offs0 0
Recoveries0 0
TDR Allowance Adjustments0 0
Ending Balance $ 0 0
Cumulative Effect Adjustment
Allowance for Loan and Lease Losses [Roll Forward]
Beginning Balance21,226 21,226
Initial Allowance on PCD Loans Acquired During the Period700
Ending Balance21,226
Cumulative Effect Adjustment | Construction and land development
Allowance for Loan and Lease Losses [Roll Forward]
Beginning Balance1,479 1,479
Cumulative Effect Adjustment | Commercial real estate - owner-occupied
Allowance for Loan and Lease Losses [Roll Forward]
Beginning Balance80 80
Cumulative Effect Adjustment | Commercial real estate - non owner-occupied
Allowance for Loan and Lease Losses [Roll Forward]
Beginning Balance9,341 9,341
Cumulative Effect Adjustment | Residential real estate
Allowance for Loan and Lease Losses [Roll Forward]
Beginning Balance5,787 5,787
Cumulative Effect Adjustment | Commercial and financial
Allowance for Loan and Lease Losses [Roll Forward]
Beginning Balance3,677 3,677
Cumulative Effect Adjustment | Consumer
Allowance for Loan and Lease Losses [Roll Forward]
Beginning Balance862 862
Cumulative Effect Adjustment | Paycheck Protection Program
Allowance for Loan and Lease Losses [Roll Forward]
Beginning Balance $ 0 $ 0

Allowance for Credit Losses - S

Allowance for Credit Losses - Schedule of Loan Portfolio, Excluding PCI Loans and Related Allowance (Details) - USD ($) $ in ThousandsJun. 30, 2020Mar. 31, 2020Dec. 31, 2019Jun. 30, 2019Mar. 31, 2019Dec. 31, 2018
Recorded Investment
Individually Evaluated $ 41,819 $ 48,762
Collectively Evaluated5,730,233 5,149,642
Total5,772,052 5,198,404
Associated Allowance
Individually Evaluated5,240 2,858
Collectively Evaluated86,010 32,296
Total91,250 $ 85,411 35,154 $ 33,505 $ 32,822 $ 32,423
Construction and land development
Recorded Investment
Individually Evaluated726 5,217
Collectively Evaluated298,109 319,896
Total298,835 325,113
Associated Allowance
Individually Evaluated20 14
Collectively Evaluated7,141 1,828
Total7,161 4,646 1,842 2,243 2,320 2,233
Commercial real estate - owner-occupied
Recorded Investment
Individually Evaluated4,491
Collectively Evaluated1,072,159
Total1,076,650 1,000,000
Associated Allowance
Individually Evaluated160
Collectively Evaluated5,402
Total5,562 5,327 5,361
Commercial real estate - non owner-occupied
Recorded Investment
Individually Evaluated7,883
Collectively Evaluated1,384,904
Total1,392,787
Associated Allowance
Individually Evaluated254
Collectively Evaluated38,738
Total38,992 35,643 7,863
Commercial real estate
Recorded Investment
Individually Evaluated20,484
Collectively Evaluated2,358,487
Total2,378,971
Associated Allowance
Individually Evaluated220
Collectively Evaluated13,004
Total13,224 11,870 11,753 11,112
Residential real estate
Recorded Investment
Individually Evaluated18,216 16,093
Collectively Evaluated1,449,955 1,491,770
Total1,468,171 1,507,863
Associated Allowance
Individually Evaluated1,071 834
Collectively Evaluated19,382 6,833
Total20,453 19,899 7,667 7,508 7,445 7,775
Commercial and financial
Recorded Investment
Individually Evaluated9,822 6,631
Collectively Evaluated747,410 771,621
Total757,232 778,252
Associated Allowance
Individually Evaluated3,628 1,731
Collectively Evaluated11,886 7,985
Total15,514 15,470 9,716 8,912 8,573 8,585
Consumer
Recorded Investment
Individually Evaluated681 337
Collectively Evaluated201,246 207,868
Total201,927 208,205
Associated Allowance
Individually Evaluated107 59
Collectively Evaluated3,461 2,646
Total3,568 4,426 2,705 $ 2,972 $ 2,731 $ 2,718
Paycheck Protection Program
Recorded Investment
Individually Evaluated0
Collectively Evaluated576,450
Total576,450
Associated Allowance
Individually Evaluated0
Collectively Evaluated0
Total $ 0 $ 0 $ 0

Securities Sold Under Agreeme_3

Securities Sold Under Agreements to Repurchase - Schedule of Securities Sold Under Agreements to Repurchase and Securities Pledged (Details) - USD ($) $ in ThousandsJun. 30, 2020Dec. 31, 2019
Carrying Value | Repurchase Agreement | Mortgage-backed securities and collateralized mortgage obligations of U.S. government-sponsored entities
Fair value of pledged securities - overnight and continuous:
Fair value of debt securities pledged as collateral $ 97,344 $ 94,354

Noninterest Income and Expens_2

Noninterest Income and Expense - Summary of Noninterest Income and Expense (Details) - USD ($) $ in Thousands3 Months Ended6 Months Ended
Jun. 30, 2020Jun. 30, 2019Jun. 30, 2020Jun. 30, 2019
Noninterest Income [Abstract]
Interchange income $ 3,187 $ 3,405 $ 6,433 $ 6,806
Marine finance fees157 201 303 563
SBA gains181 691 320 1,327
BOLI income887 927 1,773 1,842
Other income2,147 2,503 5,499 4,769
Noninterest income, gross13,776 14,043 28,445 26,888
Securities gains (losses), net1,230 (466)1,249 (475)
Total15,006 13,577 29,694 26,413
Noninterest expense
Salaries and wages20,226 19,420 43,924 37,926
Employee benefits3,379 3,195 7,634 7,401
Outsourced data processing costs4,059 3,876 8,692 7,721
Telephone/data lines791 893 1,505 1,704
Occupancy3,385 3,741 6,738 7,548
Furniture and equipment1,358 1,544 2,981 3,301
Marketing997 1,211 2,275 2,343
Legal and professional fees2,277 2,033 5,640 4,880
FDIC assessments266 337 266 825
Amortization of intangibles1,483 1,456 2,939 2,914
Foreclosed property expense and net loss (gain) on sale245 (174)(70)(214)
Other3,933 3,468 7,673 7,750
Total42,399 41,000 90,197 84,099
Service charges on deposit accounts
Noninterest Income [Abstract]
Revenue from contracts with customers1,939 2,894 4,764 5,591
Wealth management income
Noninterest Income [Abstract]
Revenue from contracts with customers1,719 1,688 3,586 3,141
Mortgage banking fees
Noninterest Income [Abstract]
Revenue from contracts with customers $ 3,559 $ 1,734 $ 5,767 $ 2,849

Equity Capital - Narrative (Det

Equity Capital - Narrative (Details)Jun. 30, 2020
Equity [Abstract]
Regulatory threshold for well-capitalized institutions0.065

Fair Value - Fair Value of Asse

Fair Value - Fair Value of Assets Measured on Recurring and Nonrecurring Basis (Details) - USD ($) $ in ThousandsJun. 30, 2020Dec. 31, 2019
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale, fair value $ 976,025 $ 946,855
Value of loans held for sale54,943 20,029
Other real estate owned15,847 12,390
Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale, fair value976,025 946,855
Value of loans held for sale54,943 20,029
Equity securities6,548 6,392
Fair Value, Measurements, Recurring | Quoted Prices in Active Markets for Identical Assets (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale, fair value102 100
Value of loans held for sale0 0
Equity securities6,548 6,392
Fair Value, Measurements, Recurring | Significant Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale, fair value975,923 946,755
Value of loans held for sale54,943 20,029
Equity securities0 0
Fair Value, Measurements, Recurring | Significant Unobservable Inputs (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale, fair value0 0
Value of loans held for sale0 0
Equity securities0 0
Fair Value, Measurements, Nonrecurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans7,974 5,123
Other real estate owned15,847 12,390
Fair Value, Measurements, Nonrecurring | Quoted Prices in Active Markets for Identical Assets (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans0 0
Other real estate owned0 0
Fair Value, Measurements, Nonrecurring | Significant Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans1,448 1,419
Other real estate owned2,368 241
Fair Value, Measurements, Nonrecurring | Significant Unobservable Inputs (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans6,526 3,704
Other real estate owned $ 13,479 $ 12,149

Fair Value - Aggregate Fair Val

Fair Value - Aggregate Fair Value and Contractual Balance of Loans for Sale (Details) - USD ($) $ in ThousandsJun. 30, 2020Dec. 31, 2019
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Value of loans held for sale $ 54,943 $ 20,029
Excess1,387 584
Contractual Balance
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Value of loans held for sale $ 53,556 $ 19,445

Fair Value - Narrative (Details

Fair Value - Narrative (Details) - USD ($) $ in Millions6 Months Ended
Jun. 30, 2020Dec. 31, 2019
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Average capitalization rate7.40%
Fair value of impaired loans $ 8 $ 5.1
Specific reserve on repaired loans5.2 $ 2.9
Additions5
Paydowns and chargeoffs2.2
Other Real Estate Owned
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Additions to level 3 from foreclosed loans5.1
Reductions related to sale of loans $ 3.8

Fair Value - Carrying Amount an

Fair Value - Carrying Amount and Fair Value of Other Significant Financial Instruments Not Measured on a Recurring Basis (Details) - USD ($) $ in ThousandsJun. 30, 2020Dec. 31, 2019
Financial Assets
Debt securities held to maturity $ 227,092 $ 261,369
Time deposits with other banks2,496 3,742
Loans, net5,680,802 5,163,250
Fair Value, Measurements, Recurring | Quoted Prices in Active Markets for Identical Assets (Level 1)
Financial Assets
Debt securities held to maturity0 0
Time deposits with other banks0 0
Loans, net0 0
Financial Liabilities
Deposit liabilities0 0
Federal Home Loan Bank (FHLB) borrowings0 0
Subordinated debt0 0
Fair Value, Measurements, Recurring | Significant Other Observable Inputs (Level 2)
Financial Assets
Debt securities held to maturity235,946 262,213
Time deposits with other banks0 0
Loans, net0 0
Financial Liabilities
Deposit liabilities0 0
Federal Home Loan Bank (FHLB) borrowings0 0
Subordinated debt64,143 64,017
Fair Value, Measurements, Recurring | Significant Unobservable Inputs (Level 3)
Financial Assets
Debt securities held to maturity0 0
Time deposits with other banks2,530 3,744
Loans, net5,770,882 5,139,491
Financial Liabilities
Deposit liabilities6,673,509 5,584,621
Federal Home Loan Bank (FHLB) borrowings134,782 314,995
Subordinated debt0 0
Carrying Value | Fair Value, Measurements, Recurring
Financial Assets
Debt securities held to maturity227,092 261,369
Time deposits with other banks2,496 3,742
Loans, net5,672,828 5,158,127
Financial Liabilities
Deposit liabilities6,666,783 5,584,753
Federal Home Loan Bank (FHLB) borrowings135,000 315,000
Subordinated debt $ 71,225 $ 71,085

Business Combinations - Narrati

Business Combinations - Narrative (Details) $ in MillionsMar. 13, 2020USD ($)branchJun. 30, 2020USD ($)
First Bank of the Palm Beaches
Business Acquisition [Line Items]
Number of branches operated | branch2
Percentage of common stock acquired100.00%
Common stock portion, number of Seacoast stock for each share of stock converted (in shares)0.2000
Goodwill recognized from acquisition, nondeductible $ 6.9
Fourth Street Banking Company
Business Acquisition [Line Items]
Deposits of acquiree $ 359
Loans of acquiree $ 312

Business Combinations - Purchas

Business Combinations - Purchase Price (Details) - First Bank of the Palm Beaches $ / shares in Units, shares in Thousands, $ in ThousandsMar. 13, 2020USD ($)$ / sharesshares
Business Acquisition [Line Items]
Number of FBPB common shares outstanding (in shares) | shares5,213
Per share exchange ratio (in shares)0.2000
Number of shares of common stock issued (in shares) | shares1,043
Multiplied by common stock price per share (in dollars per share) | $ / shares $ 20.17
Value of common stock issued $ 21,031
Cash paid for FBPB vested stock options866
Total purchase price $ 21,897

Business Combinations - Fair Va

Business Combinations - Fair Value of the Assets Purchased, Including Goodwill and Liabilities (Details) - USD ($) $ in ThousandsJun. 30, 2020Mar. 13, 2020Dec. 31, 2019
Assets:
Goodwill $ 212,146 $ 205,286
First Bank of the Palm Beaches
Assets:
Cash $ 34,749
Investment securities447
Loans146,777
Bank premises and equipment6,086
Core deposit intangibles819
Goodwill6,861
Other assets1,305
Total assets197,044
Liabilities:
Deposits173,741
Other liabilities1,406
Total liabilities175,147
First Bank of the Palm Beaches | Initially Measured
Assets:
Cash34,749
Investment securities447
Loans146,839
Bank premises and equipment6,086
Core deposit intangibles819
Goodwill6,799
Other assets1,285
Total assets197,024
Liabilities:
Deposits173,741
Other liabilities1,386
Total liabilities175,127
First Bank of the Palm Beaches | Measurement Period Adjustments
Assets:
Cash0
Investment securities0
Loans(62)
Bank premises and equipment0
Core deposit intangibles0
Goodwill62
Other assets20
Total assets20
Liabilities:
Deposits0
Other liabilities20
Total liabilities $ 20

Business Combinations - Fair _2

Business Combinations - Fair Value of Acquired Loans (Details) - First Bank of the Palm Beaches $ in ThousandsMar. 13, 2020USD ($)
Business Acquisition [Line Items]
Book Balance $ 150,342
Fair Value146,777
Construction and land development
Business Acquisition [Line Items]
Book Balance9,493
Fair Value9,012
Commercial real estate - owner-occupied
Business Acquisition [Line Items]
Book Balance46,221
Fair Value45,171
Commercial real estate - non owner-occupied
Business Acquisition [Line Items]
Book Balance36,268
Fair Value35,079
Residential real estate
Business Acquisition [Line Items]
Book Balance47,569
Fair Value47,043
Commercial and financial
Business Acquisition [Line Items]
Book Balance9,659
Fair Value9,388
Consumer
Business Acquisition [Line Items]
Book Balance1,132
Fair Value $ 1,084

Business Combinations - Purch_2

Business Combinations - Purchased Credit Impaired Loans (Details) - First Bank of the Palm Beaches - USD ($) $ in ThousandsJun. 30, 2020Mar. 13, 2020
Business Acquisition [Line Items]
Total PCD loans acquired $ 146,777
PCD Loans
Business Acquisition [Line Items]
Book balance of loans at acquisition43,682
Allowance for credit losses at acquisition(516)
Non-credit related discount(128)
Total PCD loans acquired $ 43,000 $ 43,038

Business Combinations - Pro-For

Business Combinations - Pro-Forma Information (Details) - USD ($) $ / shares in Units, $ in Thousands3 Months Ended6 Months Ended
Jun. 30, 2020Jun. 30, 2019Jun. 30, 2020Jun. 30, 2019
Business Combinations [Abstract]
Net interest income1 $ 67,272 $ 61,879 $ 131,887 $ 124,417
Net income $ 25,080 $ 23,966 $ 27,526 $ 45,378
EPS - basic (in dollars per share) $ 0.47 $ 0.46 $ 0.52 $ 0.87
EPS - diluted (in dollars per share) $ 0.47 $ 0.45 $ 0.52 $ 0.86