Document and Entity Information
Document and Entity Information - shares | 3 Months Ended | |
Mar. 31, 2018 | May 01, 2018 | |
Document And Entity Information [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Mar. 31, 2018 | |
Document Fiscal Year Focus | 2,018 | |
Document Fiscal Period Focus | Q1 | |
Trading Symbol | CCNE | |
Entity Registrant Name | CNB FINANCIAL CORP/PA | |
Entity Central Index Key | 736,772 | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Accelerated Filer | |
Entity Common Stock, Shares Outstanding | 15,285,639 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
ASSETS | ||
Cash and due from banks | $ 26,306 | $ 33,146 |
Interest bearing deposits with other banks | 2,298 | 2,199 |
Total cash and cash equivalents | 28,604 | 35,345 |
Securities available for sale | 418,299 | 409,709 |
Trading securities | 7,256 | 7,150 |
Loans held for sale | 1,460 | 852 |
Loans | 2,279,753 | 2,149,848 |
Less: unearned discount | (3,629) | (3,889) |
Less: allowance for loan losses | (20,756) | (19,693) |
Net loans | 2,255,368 | 2,126,266 |
FHLB, other equity, and restricted equity interests | 26,564 | 21,517 |
Premises and equipment, net | 50,174 | 50,715 |
Bank owned life insurance | 55,435 | 55,035 |
Mortgage servicing rights | 1,390 | 1,387 |
Goodwill | 38,730 | 38,730 |
Core deposit intangible | 1,377 | 1,625 |
Accrued interest receivable and other assets | 24,226 | 20,442 |
Total Assets | 2,908,883 | 2,768,773 |
LIABILITIES AND SHAREHOLDERS' EQUITY | ||
Non-interest bearing deposits | 311,052 | 321,858 |
Interest bearing deposits | 1,899,003 | 1,845,957 |
Total deposits | 2,210,055 | 2,167,815 |
Short-term borrowings | 91,009 | 34,416 |
FHLB and other long term borrowings | 265,389 | 222,943 |
Subordinated debentures | 70,620 | 70,620 |
Accrued interest payable and other liabilities | 26,999 | 29,069 |
Total liabilities | 2,664,072 | 2,524,863 |
Common stock, $0 par value; authorized 50,000,000 shares; issued 15,308,378 shares at March 31, 2018 and December 31, 2017 | 0 | 0 |
Additional paid in capital | 96,786 | 97,042 |
Retained earnings | 152,872 | 148,298 |
Treasury stock, at cost (22,739 shares at March 31, 2018 and 43,638 shares at December 31, 2017) | (602) | (1,087) |
Accumulated other comprehensive loss | (4,245) | (343) |
Total shareholders' equity | 244,811 | 243,910 |
Total Liabilities and Shareholders' Equity | $ 2,908,883 | $ 2,768,773 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - $ / shares | Mar. 31, 2018 | Dec. 31, 2017 |
Statement of Financial Position [Abstract] | ||
Common stock, par value | $ 0 | $ 0 |
Common stock, shares authorized | 50,000,000 | 50,000,000 |
Common stock, shares issued | 15,308,378 | 15,308,378 |
Treasury stock, shares | 22,739 | 43,638 |
Consolidated Statements of Inco
Consolidated Statements of Income - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
INTEREST AND DIVIDEND INCOME: | ||
Loans including fees | $ 26,457 | $ 21,970 |
Securities: | ||
Taxable | 1,984 | 2,191 |
Tax-exempt | 694 | 800 |
Dividends | 252 | 143 |
Total interest and dividend income | 29,387 | 25,104 |
INTEREST EXPENSE: | ||
Deposits | 2,924 | 2,121 |
Borrowed funds | 1,488 | 809 |
Subordinated debentures (includes $58 and $76 accumulated other comprehensive income reclassification for change in fair value of interest rate swap agreements in 2018 and 2017, respectively) | 875 | 972 |
Total interest expense | 5,287 | 3,902 |
NET INTEREST INCOME | 24,100 | 21,202 |
Provision (benefit) for loan losses | 1,631 | 1,016 |
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES | 22,469 | 20,186 |
NON-INTEREST INCOME: | ||
Service charges on deposit accounts | 1,247 | 1,090 |
Other service charges and fees | 618 | 529 |
Wealth and asset management fees | 1,030 | 871 |
Net realized gains on available-for-sale securities (includes $0 and $1,383 accumulated other comprehensive income reclassifications for net realized gains on available-for-sale securities in 2018 and 2017, respectively) | 0 | 1,383 |
Net realized and unrealized gains on trading securities | 14 | 188 |
Mortgage banking | 208 | 184 |
Bank owned life insurance | 400 | 352 |
Card processing and interchange income | 971 | 878 |
Other | 263 | 298 |
Total non-interest income | 4,751 | 5,773 |
NON-INTEREST EXPENSES: | ||
Salaries and benefits | 9,535 | 9,005 |
Net occupancy expense | 2,496 | 2,540 |
Amortization of core deposit intangible | 248 | 331 |
Data processing | 1,074 | 961 |
State and local taxes | 853 | 739 |
Legal, professional, and examination fees | 508 | 549 |
Advertising | 597 | 413 |
FDIC insurance premiums | 298 | 204 |
Card processing and interchange expenses | 734 | 422 |
Other | 2,656 | 1,870 |
Total non-interest expenses | 18,999 | 17,034 |
INCOME BEFORE INCOME TAXES | 8,221 | 8,925 |
INCOME TAX EXPENSE (includes $12 and $457 income tax expense from reclassification items in 2018 and 2017, respectively) | 1,124 | 2,445 |
NET INCOME | $ 7,097 | $ 6,480 |
EARNINGS PER SHARE: | ||
Basic | $ 0.46 | $ 0.43 |
Diluted | 0.46 | 0.43 |
DIVIDENDS PER SHARE: | ||
Cash dividends per share | $ 0.165 | $ 0.165 |
Consolidated Statements of Inc5
Consolidated Statements of Income (Parenthetical) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Income Statement [Abstract] | ||
Accumulated other comprehensive income reclassification for change in fair value of interest rate swap agreements | $ 58 | $ 76 |
Accumulated other comprehensive income reclassifications for net realized gains on available-for-sale securities | 0 | 1,383 |
Income tax expense from reclassification | $ 12 | $ 457 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Statement of Comprehensive Income [Abstract] | ||
Net income | $ 7,097 | $ 6,480 |
Net change in fair value of interest rate swap agreements designated as cash flow hedges: | ||
Unrealized gain on interest rate swaps, net of tax of ($4) and ($3), respectively | 16 | 6 |
Reclassification adjustment for losses recognized in earnings, net of tax of ($12) and ($27), respectively | 46 | 49 |
Net change in fair value of interest rate swap agreements designated as cash flow hedges | 62 | 55 |
Unrealized gains on other-than-temporarily impaired securities available for sale: | ||
Unrealized gains arising during the period, net of tax of $0 and ($47), respectively | 0 | 87 |
Reclassification adjustment for realized gains included in net income, net of tax of $0 and $484, respectively | 0 | (899) |
Unrealized gains on other-than-temporarily impaired securities available for sale net of reclassification adjustment for realized gains (losses) included in net income | 0 | (812) |
Unrealized gains on other securities available for sale: | ||
Unrealized (losses) gains arising during the period, net of tax of $1,053 and ($456), respectively | (3,964) | 850 |
Other comprehensive income (loss) | (3,902) | 93 |
COMPREHENSIVE INCOME | $ 3,195 | $ 6,573 |
Consolidated Statements of Com7
Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Statement of Comprehensive Income [Abstract] | ||
Unrealized gain (loss) on interest rate swaps, tax | $ (4) | $ (3) |
Reclassification adjustment for losses recognized in earnings, tax | (12) | (27) |
Unrealized gains (losses) on other-than-temporarily impaired securities available for sale arising during the period, tax | 0 | (47) |
Reclassification adjustment for realized gains included in net income, tax | 0 | 484 |
Unrealized (losses) gains on other securities available for sale arising during the period, tax | $ 1,053 | $ (456) |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
CASH FLOWS FROM OPERATING ACTIVITIES: | ||
Net income | $ 7,097 | $ 6,480 |
Adjustments to reconcile net income to net cash provided by operations: | ||
Provision (benefit) for loan losses | 1,631 | 1,016 |
Depreciation and amortization of premises and equipment, core deposit intangible, and mortgage servicing rights | 1,236 | 1,333 |
Amortization and accretion of securities premiums and discounts, deferred loan fees and costs, net yield and credit mark on acquired loans, and unearned income | (427) | 53 |
Net realized gains on sales of available-for-sale securities | 0 | (1,383) |
Net realized and unrealized gains on trading securities | (14) | (188) |
Proceeds from sale of trading securities | 0 | 402 |
Purchase of trading securities | (92) | (904) |
Gain on sale of loans | (105) | (81) |
Net gains on dispositions of premises and equipment and foreclosed assets | (4) | (81) |
Proceeds from sale of loans | 4,270 | 3,197 |
Origination of loans held for sale | (4,824) | (4,376) |
Income on bank owned life insurance | (400) | (352) |
Stock-based compensation expense | 674 | 189 |
Changes in: | ||
Accrued interest receivable and other assets | (4,134) | (1,108) |
Accrued interest payable and other liabilities | (766) | (3,971) |
NET CASH PROVIDED BY OPERATING ACTIVITIES | 4,142 | 226 |
CASH FLOWS FROM INVESTING ACTIVITIES: | ||
Proceeds from maturities, prepayments and calls of available-for-sale securities | 7,780 | 21,546 |
Proceeds from sales of available-for-sale securities | 0 | 2,183 |
Purchase of available-for-sale securities | (21,634) | (2,268) |
Loan origination and payments, net | (130,059) | (35,616) |
Purchase of FHLB, other equity, and restricted equity interests | (5,047) | (999) |
Purchase of premises and equipment | (397) | (1,877) |
Proceeds from the sale of premises and equipment and foreclosed assets | 166 | 236 |
NET CASH USED IN BY INVESTING ACTIVITIES | (149,191) | (16,795) |
Net change in: | ||
Checking, money market and savings accounts | 30,391 | 24,999 |
Certificates of deposit | 11,849 | (17,042) |
Deposits held for sale | 0 | 57 |
Purchase of treasury stock | (448) | (1,103) |
Cash dividends paid | (2,523) | (2,525) |
Proceeds from stock offering, net of issuance costs | 0 | 19,294 |
Repayment of long-term borrowings | (7,554) | (17,461) |
Proceeds from long-term borrowings | 50,000 | 0 |
Net change in short-term borrowings | 56,593 | 9,536 |
NET CASH PROVIDED BY FINANCING ACTIVITIES | 138,308 | 15,755 |
NET DECREASE IN CASH AND CASH EQUIVALENTS | (6,741) | (814) |
CASH AND CASH EQUIVALENTS, Beginning | 35,345 | 29,183 |
CASH AND CASH EQUIVALENTS, Ending | 28,604 | 28,369 |
Cash paid during the period for: | ||
Interest | 5,203 | 3,890 |
Income taxes | 0 | 0 |
SUPPLEMENTAL NONCASH DISCLOSURES: | ||
Transfers to other real estate owned | 0 | 51 |
Grant of restricted stock awards from treasury stock | $ 933 | $ 943 |
Basis of Presentation
Basis of Presentation | 3 Months Ended |
Mar. 31, 2018 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Basis of Presentation | 1. BASIS OF PRESENTATION The accompanying consolidated financial statements have been prepared pursuant to rules and regulations of the SEC and in compliance with accounting principles generally accepted in the United States of America (“GAAP”). Because this report is based on an interim period, certain information and footnote disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted. In the opinion of management of the registrant, the accompanying consolidated financial statements as of March 31, 2018 and for the three month periods ended March 31, 2018 and 2017 include all adjustments, consisting of only normal recurring adjustments, necessary for a fair presentation of the financial condition and the results of operations for the periods presented. The financial performance reported for CNB Financial Corporation (the “Corporation”) for the three month period ended March 31, 2018 is not necessarily indicative of the results to be expected for the full year. This information should be read in conjunction with the Corporation’s Annual Report on Form 10-K 10-K”). |
Stock Compensation
Stock Compensation | 3 Months Ended |
Mar. 31, 2018 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Stock Compensation | 2. STOCK COMPENSATION The Corporation has a stock incentive plan for key employees and independent directors. The stock incentive plan, which is administered by a committee of the Board of Directors, provides for aggregate grants of up to 500,000 shares of common stock in the form of nonqualified options or restricted stock. For key employees, the plan vesting is either one-third or one-fourth of the granted options or restricted stock per year, beginning one year after the grant date, with 100% vesting on the third or fourth anniversary of the grant date, respectively. Prior to 2018, for independent directors, the vesting schedule is one-third In addition to the time-based restricted stock disclosed above, the Corporation’s Board of Directors grants performance-based restricted stock awards (“PBRSAs”) to key employees. The number of PBRSAs will depend on certain performance conditions and are also subject to service-based vesting. In 2018, awards with a maximum of 15,702 shares in aggregate were granted to key employees. In 2017, an award with a maximum of 10,000 shares was granted to a key employee. Compensation expense for the restricted stock awards is recognized over the requisite service period noted above based on the fair value of the shares at the date of grant. Nonvested restricted stock awards are recorded as a reduction of additional paid-in-capital A summary of changes in time-based nonvested restricted stock awards for the three months ended March 31, 2018 follows: Per Share Weighted Average Shares Grant Date Fair Value Nonvested at beginning of period 94,472 $ 20.79 Granted 22,108 26.92 Vested (40,105 ) 19.69 Nonvested at end of period 76,475 $ 23.07 The above table excludes 15,600 shares that were granted and immediately vested. Compensation expense resulting from the immediately vested shares was $385 for the three months ended March 31, 2018, and is included in the previously disclosed $674 above. The fair value of shares vested was $1,462 and $917 during the three months ended March 31, 2018 and 2017, respectively. |
Fair Value
Fair Value | 3 Months Ended |
Mar. 31, 2018 | |
Fair Value Disclosures [Abstract] | |
Fair Value | 3. FAIR VALUE Fair Value Measurement Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. A fair value hierarchy has also been established which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The following three levels of inputs are used to measure fair value: Level 1: Quoted prices (unadjusted) for identical assets or liabilities in active markets that the entity has the ability to access as of the measurement date. Level 2: Significant other observable inputs other than Level 1 prices such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data. Level 3: Significant unobservable inputs that reflect a company’s own assumptions about the assumptions that market participants would use in pricing an asset or liability. The fair values of most trading securities and securities available for sale are determined by obtaining quoted prices on nationally recognized securities exchanges (Level 1 inputs) or matrix pricing, which is a mathematical technique widely used in the industry to value debt securities without relying exclusively on quoted prices for the specific securities but rather relying on the securities’ relationship to other benchmark quoted securities (Level 2 inputs). The Corporation’s derivative instruments are interest rate swaps that are similar to those that trade in liquid markets. As such, significant fair value inputs can generally be verified and do not typically involve significant management judgments (Level 2 inputs). The fair value of impaired loans with specific allocations of the allowance for loan losses is generally based on recent real estate appraisals prepared by third-parties. These appraisals may utilize a single valuation approach or a combination of approaches including comparable sales and the income approach. Adjustments are routinely made in the appraisal process by the appraisers to adjust for differences between the comparable sales and income data available. Management also adjusts appraised values based on the length of time that has passed since the appraisal date and other factors. Such adjustments are usually significant and typically result in a Level 3 classification of the inputs for determining fair value. Assets and liabilities measured at fair value on a recurring basis are as follows at March 31, 2018 and December 31, 2017: Fair Value Measurements at March 31, 2018 Using Quoted Prices in Significant Active Markets for Significant Other Unobservable Identical Assets Observable Inputs Inputs Description Total (Level 1) (Level 2) (Level 3) Assets: Securities Available For Sale: U.S. Government sponsored entities $ 111,921 $ 0 $ 111,921 $ 0 States and political subdivisions 133,466 0 133,466 0 Residential and multi-family mortgage 120,630 0 120,630 0 Corporate notes and bonds 17,194 0 17,194 0 Pooled SBA 34,145 0 34,145 0 Other 943 943 0 0 Total Securities Available For Sale $ 418,299 $ 943 $ 417,356 $ 0 Interest Rate swaps $ 146 $ 0 $ 146 $ 0 Trading Securities: Corporate equity securities $ 5,172 $ 5,172 $ 0 $ 0 Mutual funds 1,612 1,612 0 0 Certificates of deposit 170 170 0 0 Corporate notes and bonds 250 250 0 0 U.S. Government sponsored entities 52 0 52 0 Total Trading Securities $ 7,256 $ 7,204 $ 52 $ 0 Liabilities, Interest rate swaps $ (229 ) $ 0 $ (229 ) $ 0 Fair Value Measurements at December 31, 2017 Using Quoted Prices in Significant Active Markets for Significant Other Unobservable Identical Assets Observable Inputs Inputs Description Total (Level 1) (Level 2) (Level 3) Assets: Securities Available For Sale: U.S. Government sponsored entities $ 108,148 $ 0 $ 108,148 $ 0 States and political subdivisions 137,723 0 137,723 0 Residential and multi-family mortgage 109,636 0 109,636 0 Corporate notes and bonds 17,200 0 17,200 0 Pooled SBA 36,040 0 36,040 0 Other 962 962 0 0 Total Securities Available For Sale $ 409,709 $ 962 $ 408,747 $ 0 Interest Rate swaps $ 149 $ 0 $ 149 $ 0 Trading Securities: Corporate equity securities $ 5,125 $ 5,125 $ 0 $ 0 Mutual funds 1,499 1,499 0 0 Certificates of deposit 220 220 0 0 Corporate notes and bonds 254 254 0 0 U.S. Government sponsored entities 52 0 52 0 Total Trading Securities $ 7,150 $ 7,098 $ 52 $ 0 Liabilities, Interest rate swaps $ (310 ) $ 0 $ (310 ) $ 0 The table below presents a reconciliation of the fair value of securities available for sale measured on a recurring basis using significant unobservable inputs (Level 3) for the three months ended March 31, 2018 and 2017: 2018 2017 Balance, January 1 $ 0 $ 2,049 Total gains: Included in other comprehensive income (unrealized) 0 134 Sale of available-for-sale 0 (2,183 ) Balance, March 31 $ 0 $ 0 Assets and liabilities measured at fair value on a non-recurring Fair Value Measurements at March 31, 2018 Using Quoted Prices in Significant Active Markets for Significant Other Unobservable Identical Assets Observable Inputs Inputs Description Total (Level 1) (Level 2) (Level 3) Assets: Impaired loans: Commercial mortgages $ 60 0 0 $ 60 Fair Value Measurements at December 31, 2017 Using Quoted Prices in Significant Active Markets for Significant Other Unobservable Identical Assets Observable Inputs Inputs Description Total (Level 1) (Level 2) (Level 3) Assets: Impaired loans: Commercial mortgages $ 11 0 0 $ 11 Impaired loans, measured for impairment using the fair value of collateral for collateral dependent loans, had a recorded investment of $959 with a valuation allowance of $899 as of March 31, 2018, resulting in a provision for loan losses of $264 for the corresponding three month period. Impaired loans had a recorded investment of $646 with a valuation allowance of $635 as of December 31, 2017. Impaired loans carried at fair value resulted in a negative provision for loan losses of $(103) for the three months ended March 31, 2017. The estimated fair values of impaired collateral dependent loans such as commercial or residential mortgages are determined primarily through third-party appraisals. When a collateral dependent loan, such as a commercial or residential mortgage loan, becomes impaired, a decision is made regarding whether an updated certified appraisal of the real estate is necessary. This decision is based on various considerations, including the age of the most recent appraisal, the loan-to-value The following table presents quantitative information about Level 3 fair value measurements for financial instruments measured at fair value on a non-recurring Fair Valuation Technique Unobservable Inputs Range Impaired loans – commercial mortgages $ 60 Discounted cash flow method Discount used in discounted cash flow method 10% (10%) The following table presents quantitative information about Level 3 fair value measurements for financial instruments measured at fair value on a non-recurring Fair Valuation Technique Unobservable Inputs Range Impaired loans – commercial mortgages $ 11 Discounted cash flow method Discount used in discounted cash flow method 10% (10%) Fair Value of Financial Instruments The following table presents the carrying amount and fair value of financial instruments at March 31, 2018: Carrying Fair Value Measurement Using: Total Amount Level 1 Level 2 Level 3 Fair Value ASSETS Cash and cash equivalents $ 28,604 $ 28,604 $ 0 $ 0 $ 28,604 Securities available for sale 418,299 943 417,356 0 418,299 Trading securities 7,256 7,204 52 0 7,256 Loans held for sale 1,460 0 1,460 0 1,460 Net loans 2,255,368 0 0 2,226,877 2,226,877 FHLB and other restricted interests 21,377 n/a n/a n/a n/a Other equity interests 5,187 5,187 Interest rate swaps 146 0 146 0 146 Accrued interest receivable 9,853 7 3,117 6,729 9,853 LIABILITIES Deposits $ (2,210,055 ) $ (1,833,235 ) $ (378,985 ) $ 0 $ (2,212,220 ) FHLB and other borrowings (356,398 ) 0 (351,547 ) 0 (351,547 ) Subordinated debentures (70,620 ) 0 (69,767 ) 0 (69,767 ) Interest rate swaps (229 ) 0 (229 ) 0 (229 ) Accrued interest payable (638 ) 0 (638 ) 0 (638 ) The following table presents the carrying amount and fair value of financial instruments at December 31, 2017: Carrying Fair Value Measurement Using: Total Amount Level 1 Level 2 Level 3 Fair Value ASSETS Cash and cash equivalents $ 35,345 $ 35,345 $ 0 $ 0 $ 35,345 Securities available for sale 409,709 962 408,747 0 409,709 Trading securities 7,150 7,098 52 0 7,150 Loans held for sale 852 0 853 0 853 Net loans 2,126,266 0 0 2,126,824 2,126,824 FHLB and other restricted interests 17,035 n/a n/a n/a n/a Other equity interests 4,482 4,482 Interest rate swaps 149 0 149 0 149 Accrued interest receivable 9,254 6 2,651 6,597 9,254 LIABILITIES Deposits $ (2,167,815 ) $ (1,802,844 ) $ (362,756 ) $ 0 $ (2,165,600 ) FHLB and other borrowings (257,359 ) 0 (257,361 ) 0 (257,361 ) Subordinated debentures (70,620 ) 0 (63,575 ) 0 (63,575 ) Interest rate swaps (310 ) 0 (310 ) 0 (310 ) Accrued interest payable (554 ) 0 (554 ) (0 ) (554 ) The methods and assumptions, not otherwise presented, used to estimate fair values are described as follows: Cash and cash equivalents: Interest bearing time deposits with other banks: Loans held for sale: Loans: FHLB and other restricted equity interests: Other equity interests: Accrued interest receivable: Deposits: FHLB and other borrowings: Subordinated debentures: Accrued interest payable: While estimates of fair value are based on management’s judgment of the most appropriate factors as of the balance sheet date, there is no assurance that the estimated fair values would have been realized if the assets had been disposed of or the liabilities settled at that date, since market values may differ depending on various circumstances. The estimated fair values would also not apply to subsequent dates. In addition, other assets and liabilities that are not financial instruments, such as premises and equipment, are not included in the disclosures. Also, non-financial |
Securities
Securities | 3 Months Ended |
Mar. 31, 2018 | |
Cash and Cash Equivalents [Abstract] | |
Securities | 4. SECURITIES Securities available for sale at March 31, 2018 and December 31, 2017 are as follows: March 31, 2018 December 31, 2017 Amortized Unrealized Fair Amortized Unrealized Fair Cost Gains Losses Value Cost Gains Losses Value U.S. Gov’t sponsored entities $ 113,341 $ 334 $ (1,754 ) $ 111,921 $ 108,578 $ 478 $ (908 ) $ 108,148 State & political subdivisions 131,608 2,616 (758 ) 133,466 134,428 3,609 (314 ) 137,723 Residential & multi-family mortgage 123,995 104 (3,469 ) 120,630 111,214 304 (1,882 ) 109,636 Corporate notes & bonds 17,608 45 (459 ) 17,194 17,610 52 (462 ) 17,200 Pooled SBA 35,145 113 (1,113 ) 34,145 36,260 355 (575 ) 36,040 Other 1,020 0 (77 ) 943 1,020 0 (58 ) 962 Total $ 422,717 $ 3,212 $ (7,630 ) $ 418,299 $ 409,110 $ 4,798 $ (4,199 ) $ 409,709 At March 31, 2018 and December 31, 2017, there were no holdings of securities of any one issuer, other than the U.S. Government sponsored entities, in an amount greater than 10% of shareholders’ equity. The Corporation’s residential and multi-family mortgage securities are issued by government sponsored entities. Trading securities at March 31, 2018 and December 31, 2017 are as follows: March 31, December 31, Corporate equity securities $ 5,172 $ 5,125 Mutual funds 1,612 1,499 Certificates of deposit 170 220 Corporate notes and bonds 250 254 U.S. Government sponsored entities 52 52 Total $ 7,256 $ 7,150 Securities with unrealized losses at March 31, 2018 and December 31, 2017, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, are as follows: March 31, 2018 Less than 12 Months 12 Months or More Total Description of Securities Fair Unrealized Fair Unrealized Fair Unrealized U.S. Gov’t sponsored entities $ 63,833 $ (1,262 ) $ 34,590 $ (492 ) $ 98,423 $ (1,754 ) State & political subdivisions 61,022 (456 ) 4,045 (302 ) 65,067 (758 ) Residential & multi-family mortgage 50,017 (913 ) 59,984 (2,556 ) 110,001 (3,469 ) Corporate notes & bonds 5,225 (38 ) 9,077 (421 ) 14,302 (459 ) Pooled SBA 7,513 (67 ) 21,272 (1,046 ) 28,785 (1,113 ) Other 0 (0 ) 943 (77 ) 943 (77 ) $ 187,610 $ (2,736 ) $ 129,911 $ (4,894 ) $ 317,521 $ (7,630 ) December 31, 2017 Less than 12 Months 12 Months or More Total Fair Unrealized Fair Unrealized Fair Unrealized U.S. Gov’t sponsored entities $ 55,696 $ (540 ) $ 34,754 $ (368 ) $ 90,450 $ (908 ) State & political subdivisions 15,890 (69 ) 4,104 (245 ) 19,994 (314 ) Residential and multi-family mortgage 30,144 (153 ) 63,699 (1,729 ) 93,843 (1,882 ) Corporate notes & bonds 5,005 (9 ) 9,042 (453 ) 14,047 (462 ) Pooled SBA 0 (0 ) 22,270 (575 ) 22,270 (575 ) Other 0 (0 ) 962 (58 ) 962 (58 ) $ 106,735 $ (771 ) $ 134,831 $ (3,428 ) $ 241,566 $ (4,199 ) The Corporation evaluates securities for other-than-temporary impairment on a quarterly basis, or more frequently when economic or market conditions warrant such an evaluation. A roll-forward of the other-than-temporary impairment amount related to credit losses for the three months ended March 31, 2018 and 2017 is as follows: 2018 2017 Balance of credit losses on debt securities for which a portion of other-than-temporary impairment was recognized in earnings, beginning of period $ 0 $ 2,071 Credit losses previously recognized on securities sold during the period 0 (2,071 ) Additional credit loss for which other-than-temporary impairment was not previously recognized 0 0 Additional credit loss for which other-than-temporary impairment was previously recognized 0 0 Balance of credit losses on debt securities for which a portion of other-than-temporary impairment was recognized in earnings, end of period $ 0 $ 0 For the securities that comprise corporate notes and bonds and the securities that are issued by state and political subdivisions, management monitors publicly available financial information, such as filings with the Securities and Exchange Commission, in order to evaluate the securities for other-than-temporary impairment. For financial institution issuers, management monitors information from quarterly “call” report filings that are used to generate Uniform Bank Performance Reports. All other securities that were in an unrealized loss position at the balance sheet date were reviewed by management, and issuer-specific documents were reviewed as appropriate given the following considerations. When reviewing securities for other-than-temporary impairment, management considers the financial condition and near-term prospects of the issuer and whether downgrades by bond rating agencies have occurred. Management also considers the length of time and extent to which fair value has been less than cost, and whether management does not have the intent to sell these securities and it is likely that it will not be required to sell the securities before their anticipated recovery. As of March 31, 2018 and December 31, 2017, management concluded that the securities described in the previous paragraph were not other-than-temporarily impaired for the following reasons: • There is no indication of any significant deterioration of the creditworthiness of the institutions that issued the securities. • All contractual interest payments on the securities have been received as scheduled, and no information has come to management’s attention through the processes previously described which would lead to a conclusion that future contractual payments will not be timely received. The Corporation does not intend to sell and it is not more likely than not that it will be required to sell the securities in an unrealized loss position before recovery of its amortized cost basis. On March 31, 2018 and December 31, 2017, securities carried at $274,883 and $319,575, respectively, were pledged to secure public deposits and for other purposes as provided by law. Information pertaining to security sales on available for sale securities is as follows: Proceeds Gross Gross Three months ended March 31, 2018 $ 0 $ 0 $ 0 Three months ended March 31, 2017 $ 2,183 $ 1,383 $ 0 The tax provision related to these net realized gains was $0 and $484, respectively. The following is a schedule of the contractual maturity of securities available for sale, excluding equity securities, at March 31, 2018: Amortized Fair Cost Value 1 year or less $ 58,820 $ 58,626 1 year – 5 years 154,027 154,001 5 years – 10 years 43,991 44,236 After 10 years 5,719 5,718 262,557 262,581 Residential and multi-family mortgage 123,995 120,630 Pooled SBA 35,145 34,145 Total debt securities $ 421,697 $ 417,356 Mortgage and asset backed securities and pooled SBA securities are not due at a single date; periodic payments are received based on the payment patterns of the underlying collateral. |
Loans
Loans | 3 Months Ended |
Mar. 31, 2018 | |
Receivables [Abstract] | |
Loans | 5. LOANS Total net loans at March 31, 2018 and December 31, 2017 are summarized as follows: March 31, December 31, Commercial, industrial, and agricultural $ 773,473 $ 749,138 Commercial mortgages 694,517 600,065 Residential real estate 725,683 713,347 Consumer 77,981 80,193 Credit cards 6,965 6,753 Overdrafts 1,134 352 Less: unearned discount (3,629 ) (3,889 ) allowance for loan losses (20,756 ) (19,693 ) Loans, net $ 2,255,368 $ 2,126,266 At March 31, 2018 and December 31, 2017, net unamortized loan fees of $3,211 and $2,574, respectively, have been included in the carrying value of loans. The Corporation’s outstanding loans and related unfunded commitments are primarily concentrated within Central and Western Pennsylvania, Central and Northeastern Ohio, and Western New York. The Bank attempts to limit concentrations within specific industries by utilizing dollar limitations to single industries or customers, and by entering into participation agreements with third parties. Collateral requirements are established based on management’s assessment of the customer. The Corporation maintains lending policies to control the quality of the loan portfolio. These policies delegate the authority to extend loans under specific guidelines and underwriting standards. These policies are prepared by the Corporation’s management and reviewed and ratified annually by the Corporation’s Board of Directors. Pursuant to the Corporation’s lending policies, management considers a variety of factors when determining whether to extend credit to a customer, including loan-to-value Commercial, industrial, and agricultural loans comprised 34% and 35% of the Corporation’s total loan portfolio at March 31, 2018 and December 31, 2017, respectively. Commercial mortgage loans comprised 31% and 28% of the Corporation’s total loan portfolio at March 31, 2018 and December 31, 2017, respectively. Management assigns a risk rating to all commercial loans at loan origination. The loan-to-value loan-to-value Residential real estate loans comprised 32% and 33% of the Corporation’s total loan portfolio at March 31, 2018 and December 31, 2017, respectively. The loan-to-value loan-to-value Transactions in the allowance for loan losses for the three months ended March 31, 2018 were as follows: Commercial, Residential Industrial, and Commercial Real Credit Agricultural Mortgages Estate Consumer Cards Overdrafts Total Allowance for loan losses, January 1, 2018 $ 6,160 $ 9,007 $ 2,033 $ 2,179 $ 120 $ 194 $ 19,693 Charge-offs (31 ) 0 0 (590 ) (19 ) (86 ) (726 ) Recoveries 68 0 3 49 7 31 158 Provision for loan losses 85 1,013 16 427 15 75 1,631 Allowance for loan losses, March 31, 2018 $ 6,282 $ 10,020 $ 2,052 $ 2,065 $ 123 $ 214 $ 20,756 Transactions in the allowance for loan losses for the three months ended March 31, 2017 were as follows: Commercial, Residential Industrial, and Commercial Real Credit Agricultural Mortgages Estate Consumer Cards Overdrafts Total Allowance for loan losses, January 1, 2017 $ 5,428 $ 6,753 $ 1,653 $ 2,215 $ 93 $ 188 $ 16,330 Charge-offs (1 ) 0 (68 ) (735 ) (58 ) (69 ) (931 ) Recoveries 12 2 71 2 11 33 131 Provision (benefit) for loan losses (654 ) 602 366 607 59 36 1,016 Allowance for loan losses, March 31, 2017 $ 4,785 $ 7,357 $ 2,022 $ 2,089 $ 105 $ 188 $ 16,546 The following table presents the balance in the allowance for loan losses and the recorded investment in loans by portfolio segment and is based on the Corporation’s impairment method as of March 31, 2018 and December 31, 2017. The recorded investment in loans excludes accrued interest and unearned discounts due to their insignificance. March 31, 2018 Commercial, Commercial Residential Consumer Credit Overdrafts Total Allowance for loan losses: Ending allowance balance attributable to loans: Individually evaluated for impairment $ 20 $ 2 $ 0 $ 0 $ 0 $ 0 $ 22 Collectively evaluated for impairment 5,984 3,850 2,052 2,065 123 214 14,288 Acquired with deteriorated credit quality 0 0 0 0 0 0 0 Modified in a troubled debt restructuring 278 6,168 0 0 0 0 6,446 Total ending allowance balance $ 6,282 $ 10,020 $ 2,052 $ 2,065 $ 123 $ 214 $ 20,756 Loans: Individually evaluated for impairment $ 1,418 $ 1,892 $ 0 $ 0 $ 0 $ 0 $ 3,310 Collectively evaluated for impairment 766,905 679,271 725,683 77,981 6,965 1,134 2,257,939 Acquired with deteriorated credit quality 0 1,144 0 0 0 0 1,144 Modified in a troubled debt restructuring 5,150 12,210 0 0 0 0 17,360 Total ending loans balance $ 773,473 $ 694,517 $ 725,683 $ 77,981 $ 6,965 $ 1,134 $ 2,279,753 December 31, 2017 Commercial, Commercial Residential Consumer Credit Overdrafts Total Allowance for loan losses: Ending allowance balance attributable to loans: Individually evaluated for impairment $ 47 $ 0 $ 0 $ 0 $ 0 $ 0 $ 47 Collectively evaluated for impairment 5,868 3,563 2,033 2,179 120 194 13,957 Acquired with deteriorated credit quality 0 0 0 0 0 0 0 Modified in a troubled debt restructuring 245 5,444 0 0 0 0 5,689 Total ending allowance balance $ 6,160 $ 9,007 $ 2,033 $ 2,179 $ 120 $ 194 $ 19,693 Loans: Individually evaluated for impairment $ 1,187 $ 51 $ 0 $ 0 $ 0 $ 0 $ 1,238 Collectively evaluated for impairment 742,738 586,845 713,347 80,193 6,753 352 2,130,228 Acquired with deteriorated credit quality 0 1,079 0 0 0 0 1,079 Modified in a troubled debt restructuring 5,213 12,090 0 0 0 0 17,303 Total ending loans balance $ 749,138 $ 600,065 $ 713,347 $ 80,193 $ 6,753 $ 352 $ 2,149,848 The following tables present information related to loans individually evaluated for impairment, including loans modified in troubled debt restructurings, by portfolio segment as of March 31, 2018 and December 31, 2017 and for the three months ended March 31, 2018 and 2017: March 31, 2018 Unpaid Principal Recorded Allowance for Loan With an allowance recorded: Commercial, industrial, and agricultural $ 1,861 $ 1,852 $ 298 Commercial mortgage 9,290 9,007 6,170 Residential real estate 0 0 0 With no related allowance recorded: Commercial, industrial, and agricultural 5,478 4,716 0 Commercial mortgage 6,054 5,095 0 Residential real estate 0 0 0 Total $ 22,683 $ 20,670 $ 6,468 December 31, 2017 Unpaid Principal Recorded Allowance for Loan With an allowance recorded: Commercial, industrial, and agricultural $ 1,915 $ 1,915 $ 292 Commercial mortgage 9,940 9,731 5,444 Residential real estate 0 0 0 With no related allowance recorded: Commercial, industrial, and agricultural 5,264 4,485 0 Commercial mortgage 3,211 2,410 0 Residential real estate 0 0 0 Total $ 20,330 $ 18,541 $ 5,736 The unpaid principal balance of impaired loans includes the Corporation’s recorded investment in the loan and amounts that have been charged off. Three Months Ended March 31, 2018 Average Interest Cash Basis Recorded Income Interest Investment Recognized Recognized With an allowance recorded: Commercial, industrial, and agricultural $ 1,884 $ 22 $ 22 Commercial mortgage 9,234 18 18 Residential real estate 0 0 0 With no related allowance recorded: Commercial, industrial, and agricultural 4,600 46 46 Commercial mortgage 3,753 13 13 Residential real estate 0 0 0 Total $ 19,491 $ 99 $ 99 Three Months Ended March 31, 2017 Average Interest Cash Basis Recorded Income Interest Investment Recognized Recognized With an allowance recorded: Commercial, industrial, and agricultural $ 1,636 $ 18 $ 18 Commercial mortgage 15,270 145 145 Residential real estate 0 0 0 With no related allowance recorded: Commercial, industrial, and agricultural 1,712 16 16 Commercial mortgage 0 0 0 Residential real estate 0 0 0 Total $ 18,618 $ 179 $ 179 The following table presents the recorded investment in nonaccrual loans and loans past due over 90 days still accruing interest by class of loans as of March 31, 2018 and December 31, 2017: March 31, 2018 December 31, 2017 Nonaccrual Past Due Nonaccrual Past Due Commercial, industrial, and agricultural $ 2,737 $ 0 $ 1,869 $ 78 Commercial mortgages 11,361 0 11,065 0 Residential real estate 5,038 425 5,470 338 Consumer 614 13 828 17 Credit cards 0 37 0 44 Total $ 19,750 $ 475 $ 19,232 $ 477 Nonaccrual loans and loans past due over 90 days still on accrual include both smaller balance homogeneous loans that are collectively evaluated for impairment and individually classified impaired loans. The following table presents the aging of the recorded investment in past due loans as of March 31, 2018 and December 31, 2017 by class of loans. March 31, 2018 30-59 Days 60-89 Days Greater Than Total Loans Not Total Commercial, industrial, and agricultural $ 2,371 $ 173 $ 935 $ 3,479 $ 769,994 $ 773,473 Commercial mortgages 3 314 1,714 2,031 692,486 694,517 Residential real estate 1,565 1,596 4,471 7,632 718,051 725,683 Consumer 376 447 580 1,403 76,578 77,981 Credit cards 30 5 37 72 6,893 6,965 Overdrafts 0 0 0 0 1,134 1,134 Total $ 4,345 $ 2,535 $ 7,737 $ 14,617 $ 2,265,136 $ 2,279,753 December 31, 2017 30-59 Days 60-89 Days Greater Than Total Loans Not Total Commercial, industrial, and agricultural $ 2,745 $ 646 $ 748 $ 4,139 $ 744,999 $ 749,138 Commercial mortgages 233 0 292 525 599,540 600,065 Residential real estate 2,290 1,494 4,655 8,439 704,908 713,347 Consumer 454 307 812 1,573 78,620 80,193 Credit cards 31 10 44 85 6,668 6,753 Overdrafts 0 0 0 0 352 352 Total $ 5,753 $ 2,457 $ 6,551 $ 14,761 $ 2,135,087 $ 2,149,848 Troubled Debt Restructurings The terms of certain loans have been modified as troubled debt restructurings. The modification of the terms of such loans included either or both of the following: a reduction of the stated interest rate of the loan or an extension of the maturity date at a stated rate of interest lower than the current market rate for new debt with similar risk. The following table presents the number of loans, loan balances, and specific reserves for loans that have been restructured in a troubled debt restructuring as of March 31, 2018 and December 31, 2017. March 31, 2018 December 31, 2017 Number of Loan Specific Number of Loan Specific Commercial, industrial, and agricultural 10 $ 5,150 $ 278 10 $ 5,213 $ 245 Commercial mortgages 9 12,210 6,168 9 12,090 5,444 Residential real estate 0 0 0 0 0 0 Consumer 0 0 0 0 0 0 Credit cards 0 0 0 0 0 0 Total 19 $ 17,360 $ 6,446 19 $ 17,303 $ 5,689 There were no loans modified as troubled debt restructurings during the three months ended March 31, 2018 or March 31, 2017. A loan is considered to be in payment default once it is 90 days contractually past due under the modified terms. All loans modified in troubled debt restructurings are performing in accordance with their modified terms as of March 31, 2018 and December 31, 2017 and no principal balances were forgiven in connection with the loan restructurings. In order to determine whether a borrower is experiencing financial difficulty, the Corporation performs an evaluation using its internal underwriting policies of the probability that the borrower will be in payment default on any of its debt in the foreseeable future without a loan modification. The Corporation has no further loan commitments to customers whose loans are classified as a troubled debt restructuring. Generally, non-performing Credit Quality Indicators The Corporation classifies commercial, industrial, and agricultural loans and commercial mortgage loans into risk categories based on relevant information about the ability of borrowers to service their debt, such as current financial information, historical payment experience, credit documentation, public information, and current economic trends, among other factors. Loans with outstanding balances greater than $1 million are analyzed at least semiannually and loans with outstanding balances of less than $1 million are analyzed at least annually. The Corporation uses the following definitions for risk ratings: Special Mention: Loans classified as special mention have a potential weakness that deserves management’s close attention. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for the loan or of the Corporation’s credit position at some future date. Substandard: Loans classified as substandard are inadequately protected by the current net worth and paying capacity of the obligor or of the collateral pledged, if any. Loans so classified have a well-defined weakness or weaknesses that jeopardize the liquidation of the debt. They are characterized by the distinct possibility that the Corporation will sustain some loss if the deficiencies are not corrected. Doubtful: Loans classified as doubtful have all the weaknesses inherent in those classified as substandard, with the added characteristic that the weaknesses make collection or liquidation in full, on the basis of currently existing facts, conditions, and values, highly questionable and improbable. Loans not rated as special mention, substandard, or doubtful are considered to be pass rated loans. All loans included in the following tables have been assigned a risk rating within 12 months of the balance sheet date. March 31, 2018 Pass Special Substandard Doubtful Total Commercial, industrial, and agricultural $ 740,558 $ 9,513 $ 23,402 $ 0 $ 773,473 Commercial mortgages 676,688 2,771 15,058 0 694,517 Total $ 1,417,246 $ 12,284 $ 38,460 $ 0 $ 1,467,990 December 31, 2017 Pass Special Substandard Doubtful Total Commercial, industrial, and agricultural $ 713,102 $ 16,726 $ 19,310 $ 0 $ 749,138 Commercial mortgages 581,631 4,419 14,015 0 600,065 Total $ 1,294,733 $ 21,145 $ 33,325 $ 0 $ 1,349,203 The Corporation considers the performance of the loan portfolio and its impact on the allowance for loan losses. For residential real estate, consumer, and credit card loan classes, the Corporation also evaluates credit quality based on the aging status of the loan, which was previously presented, and by payment activity. The following table presents the recorded investment in residential, consumer, and credit card loans based on payment activity as of March 31, 2018 and December 31, 2017: March 31, 2018 December 31, 2017 Residential Credit Residential Credit Real Estate Consumer Cards Real Estate Consumer Cards Performing $ 720,220 $ 77,354 $ 6,928 $ 707,539 $ 79,348 $ 6,709 Nonperforming 5,463 627 37 5,808 845 44 Total $ 725,683 $ 77,981 $ 6,965 $ 713,347 $ 80,193 $ 6,753 The Corporation’s portfolio of residential real estate and consumer loans maintained within Holiday Financial Services Corporation (“Holiday”) are considered to be subprime loans. Holiday is a subsidiary that offers small balance unsecured and secured loans primarily collateralized by automobiles and equipment, to borrowers with higher risk characteristics than are typical in the Bank’s consumer loan portfolio. Holiday’s loan portfolio is summarized as follows at March 31, 2018 and December 31, 2017: March 31, December 31, 2018 2017 Consumer $ 21,892 $ 23,428 Less: unearned discount (3,629 ) (3,889 ) Total $ 18,263 $ 19,539 |
Deposits
Deposits | 3 Months Ended |
Mar. 31, 2018 | |
Banking and Thrift [Abstract] | |
Deposits | 6. DEPOSITS Total deposits at March 31, 2018 and December 31, 2017 are summarized as follows (in thousands): Percentage March 31, December 31, Checking, non-interest (3.4 %) $ 311,052 $ 321,858 Checking, interest bearing 4.7 % 592,075 565,399 Savings accounts 1.6 % 930,108 915,587 Certificates of deposit 3.2 % 376,820 364,971 1.9 % $ 2,210,055 $ 2,167,815 |
Earnings Per Share
Earnings Per Share | 3 Months Ended |
Mar. 31, 2018 | |
Earnings Per Share [Abstract] | |
Earnings Per Share | 7. EARNINGS PER SHARE Basic earnings per share is computed by dividing net income by the weighted average number of shares outstanding during the applicable period, excluding outstanding participating securities. Diluted earnings per share is computed using the weighted average number of shares determined for the basic computation plus the dilutive effect of potential common shares issuable under certain stock compensation plans. For the three months ended March 31, 2018 and 2017, there were no outstanding stock options to include in the diluted earnings per share calculations. Unvested share-based payment awards that contain nonforfeitable rights to dividends or dividend equivalents (whether paid or unpaid) are participating securities and are included in the computation of earnings per share pursuant to the two-class The computation of basic and diluted earnings per share is shown below: Three months ended March 31, 2018 2017 Basic earnings per common share computation: Net income per consolidated statements of income $ 7,097 $ 6,480 Net earnings allocated to participating securities (34 ) (39 ) Net earnings allocated to common stock $ 7,063 $ 6,441 Distributed earnings allocated to common stock $ 2,509 $ 2,508 Undistributed earnings allocated to common stock 4,554 3,933 Net earnings allocated to common stock $ 7,063 $ 6,441 Weighted average common shares outstanding, including shares considered participating securities 15,273 14,979 Less: Average participating securities (72 ) (86 ) Weighted average shares 15,201 14,893 Basic earnings per common share $ 0.46 $ 0.43 Diluted earnings per common share computation: Net earnings allocated to common stock $ 7,063 $ 6,441 Weighted average common shares outstanding for basic earnings per common share 15,201 14,893 Add: Dilutive effects of assumed exercises of stock options 0 0 Weighted average shares and dilutive potential common shares 15,201 14,893 Diluted earnings per common share $ 0.46 $ 0.43 |
Derivative Instruments
Derivative Instruments | 3 Months Ended |
Mar. 31, 2018 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Derivative Instruments | 8. DERIVATIVE INSTRUMENTS On May 3, 2011, the Corporation executed an interest rate swap agreement with a 5 year term and an effective date of September 15, 2013 in order to hedge cash flows associated with $10 million of a subordinated note that was issued by the Corporation during 2007 and elected cash flow hedge accounting for the agreement. The Corporation’s objective in using this derivative is to add stability to interest expense and to manage its exposure to interest rate risk. The interest rate swap involves the receipt of variable-rate amounts in exchange for fixed-rate payments from September 15, 2013 to September 15, 2018 without exchange of the underlying notional amount. At March 31, 2018, the variable rate on the subordinated debt was 3.43% (LIBOR plus 155 basis points) and the Corporation was paying 5.57% (4.02% fixed rate plus 155 basis points). As of March 31, 2018 and December 31, 2017, no derivatives were designated as fair value hedges or hedges of net investments in foreign operations. Additionally, the Corporation does not use derivatives for trading or speculative purposes and currently does not have any derivatives that are not designated as hedges. The following tables provide information about the amounts and locations of activity related to the interest rate swaps designated as cash flow hedges within the Corporation’s consolidated balance sheet and statement of income as of March 31, 2018 and December 31, 2017 and for the three months ended March 31, 2018 and 2017: Fair value as of Balance Sheet March 31, December 31, Location 2018 2017 Interest rate contracts Accrued interest and other liabilities $ (83 ) $ (161 ) For the Three Months Ended March 31, 2018 (a) (b) (c) (d) (e) Interest rate contracts $ 62 Interest expense – $ (58 ) Other $ 0 For the Three Months Ended March 31, 2017 (a) (b) (c) (d) (e) Interest rate contracts $ 55 Interest expense – $ (76 ) Other $ 0 (a) Amount of Gain or (Loss) Recognized in Other Comprehensive Loss on Derivative (Effective Portion), net of tax (b) Location of Gain or (Loss) Reclassified from Accumulated Other Comprehensive Loss into Income (Effective Portion) (c) Amount of Gain or (Loss) Reclassified from Accumulated Other Comprehensive Loss into Income (Effective Portion) (d) Location of Gain or (Loss) Recognized in Income on Derivative (Ineffective Portion and Amount Excluded from Effectiveness Testing) (e) Amount of Gain or (Loss) Recognized in Income on Derivative (Ineffective Portion and Amount Excluded from Effectiveness Testing) Amounts reported in accumulated other comprehensive loss related to the interest rate swap will be reclassified to interest expense as interest payments are made on the subordinated debentures. Such amounts reclassified from accumulated other comprehensive loss to interest expense in the next twelve months are expected to be $217. As of March 31, 2018 and December 31, 2017, a cash collateral balance in the amount of $1,400 was maintained with a counterparty to the interest rate swaps. These balances are included in interest bearing deposits with other banks on the consolidated balance sheet. The Corporation has entered into certain interest rate swap contracts that are not designated as hedging instruments. These derivative contracts relate to transactions in which the Corporation enters into an interest rate swap with a customer while at the same time entering into an offsetting interest rate swap with another financial institution. In connection with each swap transaction, the Corporation agrees to pay interest to the customer on a notional amount at a variable interest rate and receive interest from the customer on a similar notional amount at a fixed interest rate. Concurrently, the Corporation agrees to pay another financial institution the same fixed interest rate on the same notional amount and receive the same variable interest rate on the same notional amount. The transaction allows the Corporation’s customers to effectively convert a variable rate loan to a fixed rate. Because the Corporation acts as an intermediary for its customer, changes in the fair value of the underlying derivative contracts offset each other and do not impact the Corporation’s results of operations. The Corporation pledged cash collateral to another financial institution with a balance $750 as of both March 31, 2018 and December 31, 2017. This balance is included in interest bearing deposits with other banks on the consolidated balance sheets. The Corporation does not require its customers to post cash or securities as collateral on its program of back-to-back The following table provides information about the amounts and locations of activity related to the back-to-back Notional Weighted Weighted Weighted Average Fair March 31, 2018 3 rd $ 11,772 7.8 4.52 % 1 month LIBOR + 2.37% $ (146 )(a) Customer interest rate swaps (11,772 ) 7.8 4.52 % 1 month LIBOR + 2.37% 146 (b) December 31, 2017 3 rd $ 11,848 8.0 4.51 % 1 month LIBOR + 2.37% $ 149 (a) Customer interest rate swaps (11,848 ) 8.0 4.51 % 1 month LIBOR + 2.37% (149 )(b) (a) Reported in accrued interest receivable and other assets within the consolidated balance sheets (b) Reported in accrued interest payable and other liabilities within the consolidated balance sheets |
Revenue from Contracts with Cus
Revenue from Contracts with Customers | 3 Months Ended |
Mar. 31, 2018 | |
Revenue from Contract with Customer [Abstract] | |
Revenue from Contracts with Customers | 9. REVENUE FROM CONTRACTS WITH CUSTOMERS The Corporation adopted Accounting Standards Update (ASU) 2014-09, 2014-09 2014-09 in-scope Management determined that the primary sources of revenue emanating from interest and dividend income on loans and investment securities along with non-interest 2014-09. The following table depicts the disaggregation of revenue derived from contracts with customers to depict the nature, amount, timing, and uncertainty of revenue and cash flows for the three months ended March 31, 2018 and 2017. Three Months Three Months Ended Ended March 31, 2018 March 31, 2017 Non-interest Service charges on deposit accounts $ 1,247 $ 1,090 Wealth and asset management fees 1,030 871 Mortgage banking (1) 208 184 Card processing and interchange income 971 878 Net gains (losses) on sales of securities (1) 0 1,383 Other income (1) 1,295 1,367 Total non-interest $ 4,751 $ 5,773 (1) Not within scope of ASU 2014-09 The types of non-interest Service Charges on Deposit Accounts Wealth and Asset Management Fees Card processing and interchange income |
Contingency
Contingency | 3 Months Ended |
Mar. 31, 2018 | |
Commitments and Contingencies Disclosure [Abstract] | |
Contingency | 10. CONTINGENCY On March 28, 2018, the Corporation received a notice of assessment from the Pennsylvania Department of Revenue that reported a sales tax assessment amount of $824 plus interest and penalties of $339 resulting in a total assessed balance of $1,163. The notice of assessment covers the period from January 1, 2013 through July 31, 2016. The Corporation has evaluated the specific items on which sales tax has been assessed in conjunction with its legal counsel and has determined that it is probable that the Corporation has some liability based on a review of the Pennsylvania tax laws that apply to the assessed items. The Corporation’s reasonable estimate of this liability is $96 as of March 31, 2018, which has been accrued and reported in accrued interest payable and other liabilities in the accompanying consolidated balance sheet. The remaining balance that has not been accrued relates primarily to sales tax assessments associated with data processing and banking equipment maintenance, which the corporation’s management and legal counsel have concluded were improperly assessed based on current Pennsylvania sales tax law. The ultimate resolution of this matter, which may take in excess of one year, could result in an additional expense up to the total amount assessed. |
Recent Accounting Pronouncement
Recent Accounting Pronouncements | 3 Months Ended |
Mar. 31, 2018 | |
Accounting Changes and Error Corrections [Abstract] | |
Recent Accounting Pronouncements | 11. RECENT ACCOUNTING PRONOUNCEMENTS In January 2017, the FASB issued an update (ASU 2017-04, 2017-04 In August 2016, the FASB issued an update (ASU 2016-15, not-for-profit 2016-15 In June 2016, the FASB issued an update (ASU 2016-13, 2016-13 2016-13 2016-13 In February 2016, the FASB issued Accounting Standards Update 2016-02, 2016-02 right-of-use ASU 2016-02 In January 2016, the FASB issued Accounting Standards Update 2016-01, 2016-01 non-public non-recurring 2016-01 |
Recent Accounting Pronounceme20
Recent Accounting Pronouncements (Policies) | 3 Months Ended |
Mar. 31, 2018 | |
Accounting Changes and Error Corrections [Abstract] | |
Adoption of New Accounting Standards | In January 2017, the FASB issued an update (ASU 2017-04, 2017-04 In August 2016, the FASB issued an update (ASU 2016-15, not-for-profit 2016-15 In June 2016, the FASB issued an update (ASU 2016-13, 2016-13 2016-13 2016-13 In February 2016, the FASB issued Accounting Standards Update 2016-02, 2016-02 right-of-use ASU 2016-02 In January 2016, the FASB issued Accounting Standards Update 2016-01, 2016-01 non-public non-recurring 2016-01 |
Stock Compensation (Tables)
Stock Compensation (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Summary of Changes in Nonvested Restricted Stock Awards | A summary of changes in time-based nonvested restricted stock awards for the three months ended March 31, 2018 follows: Per Share Weighted Average Shares Grant Date Fair Value Nonvested at beginning of period 94,472 $ 20.79 Granted 22,108 26.92 Vested (40,105 ) 19.69 Nonvested at end of period 76,475 $ 23.07 |
Fair Value (Tables)
Fair Value (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Fair Value Disclosures [Abstract] | |
Assets and Liabilities Measured at Fair Value on Recurring Basis | Assets and liabilities measured at fair value on a recurring basis are as follows at March 31, 2018 and December 31, 2017: Fair Value Measurements at March 31, 2018 Using Quoted Prices in Significant Active Markets for Significant Other Unobservable Identical Assets Observable Inputs Inputs Description Total (Level 1) (Level 2) (Level 3) Assets: Securities Available For Sale: U.S. Government sponsored entities $ 111,921 $ 0 $ 111,921 $ 0 States and political subdivisions 133,466 0 133,466 0 Residential and multi-family mortgage 120,630 0 120,630 0 Corporate notes and bonds 17,194 0 17,194 0 Pooled SBA 34,145 0 34,145 0 Other 943 943 0 0 Total Securities Available For Sale $ 418,299 $ 943 $ 417,356 $ 0 Interest Rate swaps $ 146 $ 0 $ 146 $ 0 Trading Securities: Corporate equity securities $ 5,172 $ 5,172 $ 0 $ 0 Mutual funds 1,612 1,612 0 0 Certificates of deposit 170 170 0 0 Corporate notes and bonds 250 250 0 0 U.S. Government sponsored entities 52 0 52 0 Total Trading Securities $ 7,256 $ 7,204 $ 52 $ 0 Liabilities, Interest rate swaps $ (229 ) $ 0 $ (229 ) $ 0 Fair Value Measurements at December 31, 2017 Using Quoted Prices in Significant Active Markets for Significant Other Unobservable Identical Assets Observable Inputs Inputs Description Total (Level 1) (Level 2) (Level 3) Assets: Securities Available For Sale: U.S. Government sponsored entities $ 108,148 $ 0 $ 108,148 $ 0 States and political subdivisions 137,723 0 137,723 0 Residential and multi-family mortgage 109,636 0 109,636 0 Corporate notes and bonds 17,200 0 17,200 0 Pooled SBA 36,040 0 36,040 0 Other 962 962 0 0 Total Securities Available For Sale $ 409,709 $ 962 $ 408,747 $ 0 Interest Rate swaps $ 149 $ 0 $ 149 $ 0 Trading Securities: Corporate equity securities $ 5,125 $ 5,125 $ 0 $ 0 Mutual funds 1,499 1,499 0 0 Certificates of deposit 220 220 0 0 Corporate notes and bonds 254 254 0 0 U.S. Government sponsored entities 52 0 52 0 Total Trading Securities $ 7,150 $ 7,098 $ 52 $ 0 Liabilities, Interest rate swaps $ (310 ) $ 0 $ (310 ) $ 0 |
Securities Available for Sale Measured at Fair Value on Recurring Basis Using Significant Unobservable Inputs (Level 3) | The table below presents a reconciliation of the fair value of securities available for sale measured on a recurring basis using significant unobservable inputs (Level 3) for the three months ended March 31, 2018 and 2017: 2018 2017 Balance, January 1 $ 0 $ 2,049 Total gains: Included in other comprehensive income (unrealized) 0 134 Sale of available-for-sale 0 (2,183 ) Balance, March 31 $ 0 $ 0 |
Assets and Liabilities Measured at Fair Value on Non-Recurring Basis | Assets and liabilities measured at fair value on a non-recurring Fair Value Measurements at March 31, 2018 Using Quoted Prices in Significant Active Markets for Significant Other Unobservable Identical Assets Observable Inputs Inputs Description Total (Level 1) (Level 2) (Level 3) Assets: Impaired loans: Commercial mortgages $ 60 0 0 $ 60 Fair Value Measurements at December 31, 2017 Using Quoted Prices in Significant Active Markets for Significant Other Unobservable Identical Assets Observable Inputs Inputs Description Total (Level 1) (Level 2) (Level 3) Assets: Impaired loans: Commercial mortgages $ 11 0 0 $ 11 |
Quantitative Information about Level 3 Fair Value Measurements for Financial Instruments Measured at Fair Value on Non Recurring Basis | The following table presents quantitative information about Level 3 fair value measurements for financial instruments measured at fair value on a non-recurring Fair Valuation Technique Unobservable Inputs Range Impaired loans – commercial mortgages $ 60 Discounted cash flow method Discount used in discounted cash flow method 10% (10%) The following table presents quantitative information about Level 3 fair value measurements for financial instruments measured at fair value on a non-recurring Fair Valuation Technique Unobservable Inputs Range Impaired loans – commercial mortgages $ 11 Discounted cash flow method Discount used in discounted cash flow method 10% (10%) |
Carrying Amount and Fair Value of Financial Instruments | The following table presents the carrying amount and fair value of financial instruments at March 31, 2018: Carrying Fair Value Measurement Using: Total Amount Level 1 Level 2 Level 3 Fair Value ASSETS Cash and cash equivalents $ 28,604 $ 28,604 $ 0 $ 0 $ 28,604 Securities available for sale 418,299 943 417,356 0 418,299 Trading securities 7,256 7,204 52 0 7,256 Loans held for sale 1,460 0 1,460 0 1,460 Net loans 2,255,368 0 0 2,226,877 2,226,877 FHLB and other restricted interests 21,377 n/a n/a n/a n/a Other equity interests 5,187 5,187 Interest rate swaps 146 0 146 0 146 Accrued interest receivable 9,853 7 3,117 6,729 9,853 LIABILITIES Deposits $ (2,210,055 ) $ (1,833,235 ) $ (378,985 ) $ 0 $ (2,212,220 ) FHLB and other borrowings (356,398 ) 0 (351,547 ) 0 (351,547 ) Subordinated debentures (70,620 ) 0 (69,767 ) 0 (69,767 ) Interest rate swaps (229 ) 0 (229 ) 0 (229 ) Accrued interest payable (638 ) 0 (638 ) 0 (638 ) The following table presents the carrying amount and fair value of financial instruments at December 31, 2017: Carrying Fair Value Measurement Using: Total Amount Level 1 Level 2 Level 3 Fair Value ASSETS Cash and cash equivalents $ 35,345 $ 35,345 $ 0 $ 0 $ 35,345 Securities available for sale 409,709 962 408,747 0 409,709 Trading securities 7,150 7,098 52 0 7,150 Loans held for sale 852 0 853 0 853 Net loans 2,126,266 0 0 2,126,824 2,126,824 FHLB and other restricted interests 17,035 n/a n/a n/a n/a Other equity interests 4,482 4,482 Interest rate swaps 149 0 149 0 149 Accrued interest receivable 9,254 6 2,651 6,597 9,254 LIABILITIES Deposits $ (2,167,815 ) $ (1,802,844 ) $ (362,756 ) $ 0 $ (2,165,600 ) FHLB and other borrowings (257,359 ) 0 (257,361 ) 0 (257,361 ) Subordinated debentures (70,620 ) 0 (63,575 ) 0 (63,575 ) Interest rate swaps (310 ) 0 (310 ) 0 (310 ) Accrued interest payable (554 ) 0 (554 ) (0 ) (554 ) |
Securities (Tables)
Securities (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Cash and Cash Equivalents [Abstract] | |
Securities Available for Sale | Securities available for sale at March 31, 2018 and December 31, 2017 are as follows: March 31, 2018 December 31, 2017 Amortized Unrealized Fair Amortized Unrealized Fair Cost Gains Losses Value Cost Gains Losses Value U.S. Gov’t sponsored entities $ 113,341 $ 334 $ (1,754 ) $ 111,921 $ 108,578 $ 478 $ (908 ) $ 108,148 State & political subdivisions 131,608 2,616 (758 ) 133,466 134,428 3,609 (314 ) 137,723 Residential & multi-family mortgage 123,995 104 (3,469 ) 120,630 111,214 304 (1,882 ) 109,636 Corporate notes & bonds 17,608 45 (459 ) 17,194 17,610 52 (462 ) 17,200 Pooled SBA 35,145 113 (1,113 ) 34,145 36,260 355 (575 ) 36,040 Other 1,020 0 (77 ) 943 1,020 0 (58 ) 962 Total $ 422,717 $ 3,212 $ (7,630 ) $ 418,299 $ 409,110 $ 4,798 $ (4,199 ) $ 409,709 |
Trading Securities | Trading securities at March 31, 2018 and December 31, 2017 are as follows: March 31, December 31, Corporate equity securities $ 5,172 $ 5,125 Mutual funds 1,612 1,499 Certificates of deposit 170 220 Corporate notes and bonds 250 254 U.S. Government sponsored entities 52 52 Total $ 7,256 $ 7,150 |
Securities with Unrealized Losses Aggregated by Investment Category and Length of Time that Individual Securities have been in Continuous Unrealized Loss Position | Securities with unrealized losses at March 31, 2018 and December 31, 2017, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, are as follows: March 31, 2018 Less than 12 Months 12 Months or More Total Description of Securities Fair Unrealized Fair Unrealized Fair Unrealized U.S. Gov’t sponsored entities $ 63,833 $ (1,262 ) $ 34,590 $ (492 ) $ 98,423 $ (1,754 ) State & political subdivisions 61,022 (456 ) 4,045 (302 ) 65,067 (758 ) Residential & multi-family mortgage 50,017 (913 ) 59,984 (2,556 ) 110,001 (3,469 ) Corporate notes & bonds 5,225 (38 ) 9,077 (421 ) 14,302 (459 ) Pooled SBA 7,513 (67 ) 21,272 (1,046 ) 28,785 (1,113 ) Other 0 (0 ) 943 (77 ) 943 (77 ) $ 187,610 $ (2,736 ) $ 129,911 $ (4,894 ) $ 317,521 $ (7,630 ) December 31, 2017 Less than 12 Months 12 Months or More Total Fair Unrealized Fair Unrealized Fair Unrealized U.S. Gov’t sponsored entities $ 55,696 $ (540 ) $ 34,754 $ (368 ) $ 90,450 $ (908 ) State & political subdivisions 15,890 (69 ) 4,104 (245 ) 19,994 (314 ) Residential and multi-family mortgage 30,144 (153 ) 63,699 (1,729 ) 93,843 (1,882 ) Corporate notes & bonds 5,005 (9 ) 9,042 (453 ) 14,047 (462 ) Pooled SBA 0 (0 ) 22,270 (575 ) 22,270 (575 ) Other 0 (0 ) 962 (58 ) 962 (58 ) $ 106,735 $ (771 ) $ 134,831 $ (3,428 ) $ 241,566 $ (4,199 ) |
Roll-Forward of Other-Than-Temporary Impairment Amount Related to Credit Losses | A roll-forward of the other-than-temporary impairment amount related to credit losses for the three months ended March 31, 2018 and 2017 is as follows: 2018 2017 Balance of credit losses on debt securities for which a portion of other-than-temporary impairment was recognized in earnings, beginning of period $ 0 $ 2,071 Credit losses previously recognized on securities sold during the period 0 (2,071 ) Additional credit loss for which other-than-temporary impairment was not previously recognized 0 0 Additional credit loss for which other-than-temporary impairment was previously recognized 0 0 Balance of credit losses on debt securities for which a portion of other-than-temporary impairment was recognized in earnings, end of period $ 0 $ 0 |
Information Pertaining to Security Sales | Information pertaining to security sales on available for sale securities is as follows: Proceeds Gross Gross Three months ended March 31, 2018 $ 0 $ 0 $ 0 Three months ended March 31, 2017 $ 2,183 $ 1,383 $ 0 |
Schedule of Contractual Maturity of Securities Available for Sale, Excluding Equity Securities | The following is a schedule of the contractual maturity of securities available for sale, excluding equity securities, at March 31, 2018: Amortized Fair Cost Value 1 year or less $ 58,820 $ 58,626 1 year – 5 years 154,027 154,001 5 years – 10 years 43,991 44,236 After 10 years 5,719 5,718 262,557 262,581 Residential and multi-family mortgage 123,995 120,630 Pooled SBA 35,145 34,145 Total debt securities $ 421,697 $ 417,356 |
Loans (Tables)
Loans (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Receivables [Abstract] | |
Schedule of Net Loans | Total net loans at March 31, 2018 and December 31, 2017 are summarized as follows: March 31, December 31, Commercial, industrial, and agricultural $ 773,473 $ 749,138 Commercial mortgages 694,517 600,065 Residential real estate 725,683 713,347 Consumer 77,981 80,193 Credit cards 6,965 6,753 Overdrafts 1,134 352 Less: unearned discount (3,629 ) (3,889 ) allowance for loan losses (20,756 ) (19,693 ) Loans, net $ 2,255,368 $ 2,126,266 |
Allowance for Loan Losses | Transactions in the allowance for loan losses for the three months ended March 31, 2018 were as follows: Commercial, Residential Industrial, and Commercial Real Credit Agricultural Mortgages Estate Consumer Cards Overdrafts Total Allowance for loan losses, January 1, 2018 $ 6,160 $ 9,007 $ 2,033 $ 2,179 $ 120 $ 194 $ 19,693 Charge-offs (31 ) 0 0 (590 ) (19 ) (86 ) (726 ) Recoveries 68 0 3 49 7 31 158 Provision for loan losses 85 1,013 16 427 15 75 1,631 Allowance for loan losses, March 31, 2018 $ 6,282 $ 10,020 $ 2,052 $ 2,065 $ 123 $ 214 $ 20,756 Transactions in the allowance for loan losses for the three months ended March 31, 2017 were as follows: Commercial, Residential Industrial, and Commercial Real Credit Agricultural Mortgages Estate Consumer Cards Overdrafts Total Allowance for loan losses, January 1, 2017 $ 5,428 $ 6,753 $ 1,653 $ 2,215 $ 93 $ 188 $ 16,330 Charge-offs (1 ) 0 (68 ) (735 ) (58 ) (69 ) (931 ) Recoveries 12 2 71 2 11 33 131 Provision (benefit) for loan losses (654 ) 602 366 607 59 36 1,016 Allowance for loan losses, March 31, 2017 $ 4,785 $ 7,357 $ 2,022 $ 2,089 $ 105 $ 188 $ 16,546 |
Allowance for Loan Losses and Recorded Investment in Loans by Portfolio Segment | The following table presents the balance in the allowance for loan losses and the recorded investment in loans by portfolio segment and is based on the Corporation’s impairment method as of March 31, 2018 and December 31, 2017. The recorded investment in loans excludes accrued interest and unearned discounts due to their insignificance. March 31, 2018 Commercial, Commercial Residential Consumer Credit Overdrafts Total Allowance for loan losses: Ending allowance balance attributable to loans: Individually evaluated for impairment $ 20 $ 2 $ 0 $ 0 $ 0 $ 0 $ 22 Collectively evaluated for impairment 5,984 3,850 2,052 2,065 123 214 14,288 Acquired with deteriorated credit quality 0 0 0 0 0 0 0 Modified in a troubled debt restructuring 278 6,168 0 0 0 0 6,446 Total ending allowance balance $ 6,282 $ 10,020 $ 2,052 $ 2,065 $ 123 $ 214 $ 20,756 Loans: Individually evaluated for impairment $ 1,418 $ 1,892 $ 0 $ 0 $ 0 $ 0 $ 3,310 Collectively evaluated for impairment 766,905 679,271 725,683 77,981 6,965 1,134 2,257,939 Acquired with deteriorated credit quality 0 1,144 0 0 0 0 1,144 Modified in a troubled debt restructuring 5,150 12,210 0 0 0 0 17,360 Total ending loans balance $ 773,473 $ 694,517 $ 725,683 $ 77,981 $ 6,965 $ 1,134 $ 2,279,753 December 31, 2017 Commercial, Commercial Residential Consumer Credit Overdrafts Total Allowance for loan losses: Ending allowance balance attributable to loans: Individually evaluated for impairment $ 47 $ 0 $ 0 $ 0 $ 0 $ 0 $ 47 Collectively evaluated for impairment 5,868 3,563 2,033 2,179 120 194 13,957 Acquired with deteriorated credit quality 0 0 0 0 0 0 0 Modified in a troubled debt restructuring 245 5,444 0 0 0 0 5,689 Total ending allowance balance $ 6,160 $ 9,007 $ 2,033 $ 2,179 $ 120 $ 194 $ 19,693 Loans: Individually evaluated for impairment $ 1,187 $ 51 $ 0 $ 0 $ 0 $ 0 $ 1,238 Collectively evaluated for impairment 742,738 586,845 713,347 80,193 6,753 352 2,130,228 Acquired with deteriorated credit quality 0 1,079 0 0 0 0 1,079 Modified in a troubled debt restructuring 5,213 12,090 0 0 0 0 17,303 Total ending loans balance $ 749,138 $ 600,065 $ 713,347 $ 80,193 $ 6,753 $ 352 $ 2,149,848 |
Loans Individually Evaluated for Impairment Including Loans Modified in Troubled Debt Restructurings by Portfolio Segment | The following tables present information related to loans individually evaluated for impairment, including loans modified in troubled debt restructurings, by portfolio segment as of March 31, 2018 and December 31, 2017 and for the three months ended March 31, 2018 and 2017: March 31, 2018 Unpaid Principal Recorded Allowance for Loan With an allowance recorded: Commercial, industrial, and agricultural $ 1,861 $ 1,852 $ 298 Commercial mortgage 9,290 9,007 6,170 Residential real estate 0 0 0 With no related allowance recorded: Commercial, industrial, and agricultural 5,478 4,716 0 Commercial mortgage 6,054 5,095 0 Residential real estate 0 0 0 Total $ 22,683 $ 20,670 $ 6,468 December 31, 2017 Unpaid Principal Recorded Allowance for Loan With an allowance recorded: Commercial, industrial, and agricultural $ 1,915 $ 1,915 $ 292 Commercial mortgage 9,940 9,731 5,444 Residential real estate 0 0 0 With no related allowance recorded: Commercial, industrial, and agricultural 5,264 4,485 0 Commercial mortgage 3,211 2,410 0 Residential real estate 0 0 0 Total $ 20,330 $ 18,541 $ 5,736 |
Impaired Financing Receivables with Related and not Related Allowances | The unpaid principal balance of impaired loans includes the Corporation’s recorded investment in the loan and amounts that have been charged off. Three Months Ended March 31, 2018 Average Interest Cash Basis Recorded Income Interest Investment Recognized Recognized With an allowance recorded: Commercial, industrial, and agricultural $ 1,884 $ 22 $ 22 Commercial mortgage 9,234 18 18 Residential real estate 0 0 0 With no related allowance recorded: Commercial, industrial, and agricultural 4,600 46 46 Commercial mortgage 3,753 13 13 Residential real estate 0 0 0 Total $ 19,491 $ 99 $ 99 Three Months Ended March 31, 2017 Average Interest Cash Basis Recorded Income Interest Investment Recognized Recognized With an allowance recorded: Commercial, industrial, and agricultural $ 1,636 $ 18 $ 18 Commercial mortgage 15,270 145 145 Residential real estate 0 0 0 With no related allowance recorded: Commercial, industrial, and agricultural 1,712 16 16 Commercial mortgage 0 0 0 Residential real estate 0 0 0 Total $ 18,618 $ 179 $ 179 |
Nonaccrual Loans and Loans Past Due over 90 Days Still Accruing Interest by Class of Loans | The following table presents the recorded investment in nonaccrual loans and loans past due over 90 days still accruing interest by class of loans as of March 31, 2018 and December 31, 2017: March 31, 2018 December 31, 2017 Nonaccrual Past Due Nonaccrual Past Due Commercial, industrial, and agricultural $ 2,737 $ 0 $ 1,869 $ 78 Commercial mortgages 11,361 0 11,065 0 Residential real estate 5,038 425 5,470 338 Consumer 614 13 828 17 Credit cards 0 37 0 44 Total $ 19,750 $ 475 $ 19,232 $ 477 |
Aging of Recorded Investment in Past Due Loans | The following table presents the aging of the recorded investment in past due loans as of March 31, 2018 and December 31, 2017 by class of loans. March 31, 2018 30-59 Days 60-89 Days Greater Than Total Loans Not Total Commercial, industrial, and agricultural $ 2,371 $ 173 $ 935 $ 3,479 $ 769,994 $ 773,473 Commercial mortgages 3 314 1,714 2,031 692,486 694,517 Residential real estate 1,565 1,596 4,471 7,632 718,051 725,683 Consumer 376 447 580 1,403 76,578 77,981 Credit cards 30 5 37 72 6,893 6,965 Overdrafts 0 0 0 0 1,134 1,134 Total $ 4,345 $ 2,535 $ 7,737 $ 14,617 $ 2,265,136 $ 2,279,753 December 31, 2017 30-59 Days 60-89 Days Greater Than Total Loans Not Total Commercial, industrial, and agricultural $ 2,745 $ 646 $ 748 $ 4,139 $ 744,999 $ 749,138 Commercial mortgages 233 0 292 525 599,540 600,065 Residential real estate 2,290 1,494 4,655 8,439 704,908 713,347 Consumer 454 307 812 1,573 78,620 80,193 Credit cards 31 10 44 85 6,668 6,753 Overdrafts 0 0 0 0 352 352 Total $ 5,753 $ 2,457 $ 6,551 $ 14,761 $ 2,135,087 $ 2,149,848 |
Restructured in Troubled Debt | The following table presents the number of loans, loan balances, and specific reserves for loans that have been restructured in a troubled debt restructuring as of March 31, 2018 and December 31, 2017. March 31, 2018 December 31, 2017 Number of Loan Specific Number of Loan Specific Commercial, industrial, and agricultural 10 $ 5,150 $ 278 10 $ 5,213 $ 245 Commercial mortgages 9 12,210 6,168 9 12,090 5,444 Residential real estate 0 0 0 0 0 0 Consumer 0 0 0 0 0 0 Credit cards 0 0 0 0 0 0 Total 19 $ 17,360 $ 6,446 19 $ 17,303 $ 5,689 |
Schedule of Loan Assigned Risk Rating within 12 Months of Balance Sheet Date | All loans included in the following tables have been assigned a risk rating within 12 months of the balance sheet date. March 31, 2018 Pass Special Substandard Doubtful Total Commercial, industrial, and agricultural $ 740,558 $ 9,513 $ 23,402 $ 0 $ 773,473 Commercial mortgages 676,688 2,771 15,058 0 694,517 Total $ 1,417,246 $ 12,284 $ 38,460 $ 0 $ 1,467,990 December 31, 2017 Pass Special Substandard Doubtful Total Commercial, industrial, and agricultural $ 713,102 $ 16,726 $ 19,310 $ 0 $ 749,138 Commercial mortgages 581,631 4,419 14,015 0 600,065 Total $ 1,294,733 $ 21,145 $ 33,325 $ 0 $ 1,349,203 |
Recorded Investment in Residential, Consumer and Credit Card Loans Based on Payment Activity | The following table presents the recorded investment in residential, consumer, and credit card loans based on payment activity as of March 31, 2018 and December 31, 2017: March 31, 2018 December 31, 2017 Residential Credit Residential Credit Real Estate Consumer Cards Real Estate Consumer Cards Performing $ 720,220 $ 77,354 $ 6,928 $ 707,539 $ 79,348 $ 6,709 Nonperforming 5,463 627 37 5,808 845 44 Total $ 725,683 $ 77,981 $ 6,965 $ 713,347 $ 80,193 $ 6,753 |
Summary of Holiday's Loan Portfolio | Holiday’s loan portfolio is summarized as follows at March 31, 2018 and December 31, 2017: March 31, December 31, 2018 2017 Consumer $ 21,892 $ 23,428 Less: unearned discount (3,629 ) (3,889 ) Total $ 18,263 $ 19,539 |
Deposits (Tables)
Deposits (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Banking and Thrift [Abstract] | |
Total Deposits | Total deposits at March 31, 2018 and December 31, 2017 are summarized as follows (in thousands): Percentage March 31, December 31, Checking, non-interest (3.4 %) $ 311,052 $ 321,858 Checking, interest bearing 4.7 % 592,075 565,399 Savings accounts 1.6 % 930,108 915,587 Certificates of deposit 3.2 % 376,820 364,971 1.9 % $ 2,210,055 $ 2,167,815 |
Earnings Per Share (Tables)
Earnings Per Share (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Earnings Per Share [Abstract] | |
Computation of Basic and Diluted Earnings Per Share | The computation of basic and diluted earnings per share is shown below: Three months ended March 31, 2018 2017 Basic earnings per common share computation: Net income per consolidated statements of income $ 7,097 $ 6,480 Net earnings allocated to participating securities (34 ) (39 ) Net earnings allocated to common stock $ 7,063 $ 6,441 Distributed earnings allocated to common stock $ 2,509 $ 2,508 Undistributed earnings allocated to common stock 4,554 3,933 Net earnings allocated to common stock $ 7,063 $ 6,441 Weighted average common shares outstanding, including shares considered participating securities 15,273 14,979 Less: Average participating securities (72 ) (86 ) Weighted average shares 15,201 14,893 Basic earnings per common share $ 0.46 $ 0.43 Diluted earnings per common share computation: Net earnings allocated to common stock $ 7,063 $ 6,441 Weighted average common shares outstanding for basic earnings per common share 15,201 14,893 Add: Dilutive effects of assumed exercises of stock options 0 0 Weighted average shares and dilutive potential common shares 15,201 14,893 Diluted earnings per common share $ 0.46 $ 0.43 |
Derivative Instruments (Tables)
Derivative Instruments (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Amounts and Locations of Activity Related to Interest Rate Swaps Designated as Cash Flow Hedges within Corporation's Consolidated Balance Sheet and Statement of Income | The following tables provide information about the amounts and locations of activity related to the interest rate swaps designated as cash flow hedges within the Corporation’s consolidated balance sheet and statement of income as of March 31, 2018 and December 31, 2017 and for the three months ended March 31, 2018 and 2017: Fair value as of Balance Sheet March 31, December 31, Location 2018 2017 Interest rate contracts Accrued interest and other liabilities $ (83 ) $ (161 ) For the Three Months Ended March 31, 2018 (a) (b) (c) (d) (e) Interest rate contracts $ 62 Interest expense – $ (58 ) Other $ 0 For the Three Months Ended March 31, 2017 (a) (b) (c) (d) (e) Interest rate contracts $ 55 Interest expense – $ (76 ) Other $ 0 (a) Amount of Gain or (Loss) Recognized in Other Comprehensive Loss on Derivative (Effective Portion), net of tax (b) Location of Gain or (Loss) Reclassified from Accumulated Other Comprehensive Loss into Income (Effective Portion) (c) Amount of Gain or (Loss) Reclassified from Accumulated Other Comprehensive Loss into Income (Effective Portion) (d) Location of Gain or (Loss) Recognized in Income on Derivative (Ineffective Portion and Amount Excluded from Effectiveness Testing) (e) Amount of Gain or (Loss) Recognized in Income on Derivative (Ineffective Portion and Amount Excluded from Effectiveness Testing) |
Amounts and Locations of Activity Related to Back-to-Back Interest Rate Swaps within Corporation's Consolidated Balance Sheet | The following table provides information about the amounts and locations of activity related to the back-to-back Notional Weighted Weighted Weighted Average Fair March 31, 2018 3 rd $ 11,772 7.8 4.52 % 1 month LIBOR + 2.37% $ (146 )(a) Customer interest rate swaps (11,772 ) 7.8 4.52 % 1 month LIBOR + 2.37% 146 (b) December 31, 2017 3 rd $ 11,848 8.0 4.51 % 1 month LIBOR + 2.37% $ 149 (a) Customer interest rate swaps (11,848 ) 8.0 4.51 % 1 month LIBOR + 2.37% (149 )(b) (a) Reported in accrued interest receivable and other assets within the consolidated balance sheets (b) Reported in accrued interest payable and other liabilities within the consolidated balance sheets |
Revenue from Contracts with C28
Revenue from Contracts with Customers (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Revenue from Contract with Customer [Abstract] | |
Disaggregation of Revenue Derived from Contracts with Customers | The following table depicts the disaggregation of revenue derived from contracts with customers to depict the nature, amount, timing, and uncertainty of revenue and cash flows for the three months ended March 31, 2018 and 2017. Three Months Three Months Ended Ended March 31, 2018 March 31, 2017 Non-interest Service charges on deposit accounts $ 1,247 $ 1,090 Wealth and asset management fees 1,030 871 Mortgage banking (1) 208 184 Card processing and interchange income 971 878 Net gains (losses) on sales of securities (1) 0 1,383 Other income (1) 1,295 1,367 Total non-interest $ 4,751 $ 5,773 (1) Not within scope of ASU 2014-09 |
Stock Compensation - Additional
Stock Compensation - Additional Information (Detail) - USD ($) | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | Dec. 31, 2017 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Number of nonqualified options or restricted stock for key employees and independent director | 500,000 | ||
Description of award terms | For key employees, the plan vesting is either one-third or one-fourth of the granted options or restricted stock per year, beginning one year after the grant date, with 100% vesting on the third or fourth anniversary of the grant date, respectively. Prior to 2018, for independent directors, the vesting schedule is one-third of the granted options or restricted stock per year beginning one year after the grant date, with 100% vested on the third anniversary of the grant date. | ||
Unrecognized compensation cost related to nonvested stock options granted | $ 0 | ||
Shares, granted | 0 | 0 | |
Compensation expense restricted stock awards | $ 674,000 | $ 189,000 | |
Vested, Shares | 40,105 | ||
Fair value of shares vesting during period | $ 1,462,000 | $ 917,000 | |
Restricted Stock Units (RSUs) [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Unrecognized compensation cost related to nonvested restricted stock | 1,584,000 | ||
Restricted Stock Units (RSUs) [Member] | Vested Immediately [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Compensation expense restricted stock awards | $ 385,000 | ||
Vested, Shares | 15,600 | ||
Performance Based Restricted Stock Awards [Member] | Maximum [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Shares, granted | 15,702 | 10,000 | |
Independent Directors [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Starting period of vesting of stock based award | 1 year | ||
Aggregate percentage of stock based awards to be matured | 100.00% | ||
Stock incentive plan, vesting per year | 33.33% | ||
Award vesting period | 3 years | ||
Key Employees [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Starting period of vesting of stock based award | 1 year | ||
Aggregate percentage of stock based awards to be matured | 100.00% | ||
Stock incentive plan, vesting per year | 25.00% | ||
Award vesting period | 4 years |
Stock Compensation - Summary of
Stock Compensation - Summary of Changes in Time-based Nonvested Restricted Stock Awards (Detail) | 3 Months Ended |
Mar. 31, 2018$ / sharesshares | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Nonvested at beginning of period, Shares | shares | 94,472 |
Granted, Shares | shares | 22,108 |
Vested, Shares | shares | (40,105) |
Nonvested at end of period, Shares | shares | 76,475 |
Nonvested at beginning of period, Weighted-average Grant Date Fair Value | $ / shares | $ 20.79 |
Granted, Weighted-average Grant Date Fair Value | $ / shares | 26.92 |
Vested, Weighted-average Grant Date Fair Value | $ / shares | 19.69 |
Nonvested at end of period, Weighted-average Grant Date Fair Value | $ / shares | $ 23.07 |
Fair Value - Assets and Liabili
Fair Value - Assets and Liabilities Measured at Fair Value on Recurring Basis (Detail) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Securities Available For Sale: | ||
Securities available for sale | $ 418,299 | $ 409,709 |
Trading Securities: | ||
Trading securities | 7,256 | 7,150 |
Certificates of Deposit [Member] | ||
Trading Securities: | ||
Trading securities | 170 | 220 |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ||
Securities Available For Sale: | ||
Securities available for sale | 943 | 962 |
Interest rate swaps | 0 | 0 |
Trading Securities: | ||
Trading securities | 7,204 | 7,098 |
Liabilities | ||
Interest rate swaps | 0 | 0 |
Significant Other Observable Inputs (Level 2) [Member] | ||
Securities Available For Sale: | ||
Securities available for sale | 417,356 | 408,747 |
Interest rate swaps | 146 | 149 |
Trading Securities: | ||
Trading securities | 52 | 52 |
Liabilities | ||
Interest rate swaps | (229) | (310) |
Significant Unobservable Inputs (Level 3) [Member] | ||
Securities Available For Sale: | ||
Securities available for sale | 0 | 0 |
Interest rate swaps | 0 | 0 |
Trading Securities: | ||
Trading securities | 0 | 0 |
Liabilities | ||
Interest rate swaps | 0 | 0 |
Fair Value Measurement on Recurring Basis [Member] | ||
Securities Available For Sale: | ||
Securities available for sale | 418,299 | 409,709 |
Interest rate swaps | 146 | 149 |
Trading Securities: | ||
Trading securities | 7,256 | 7,150 |
Liabilities | ||
Interest rate swaps | (229) | (310) |
Fair Value Measurement on Recurring Basis [Member] | U.S. Government Sponsored Entities [Member] | ||
Securities Available For Sale: | ||
Securities available for sale | 111,921 | 108,148 |
Trading Securities: | ||
Trading securities | 52 | 52 |
Fair Value Measurement on Recurring Basis [Member] | States and Political Subdivisions [Member] | ||
Securities Available For Sale: | ||
Securities available for sale | 133,466 | 137,723 |
Fair Value Measurement on Recurring Basis [Member] | Residential and Multi-Family Mortgage [Member] | ||
Securities Available For Sale: | ||
Securities available for sale | 120,630 | 109,636 |
Fair Value Measurement on Recurring Basis [Member] | Corporate Notes and Bonds [Member] | ||
Securities Available For Sale: | ||
Securities available for sale | 17,194 | 17,200 |
Trading Securities: | ||
Trading securities | 250 | 254 |
Fair Value Measurement on Recurring Basis [Member] | Pooled SBA [Member] | ||
Securities Available For Sale: | ||
Securities available for sale | 34,145 | 36,040 |
Fair Value Measurement on Recurring Basis [Member] | Other [Member] | ||
Securities Available For Sale: | ||
Securities available for sale | 943 | 962 |
Fair Value Measurement on Recurring Basis [Member] | Corporate Equity Securities [Member] | ||
Trading Securities: | ||
Trading securities | 5,172 | 5,125 |
Fair Value Measurement on Recurring Basis [Member] | Mutual Funds [Member] | ||
Trading Securities: | ||
Trading securities | 1,612 | 1,499 |
Fair Value Measurement on Recurring Basis [Member] | Certificates of Deposit [Member] | ||
Trading Securities: | ||
Trading securities | 170 | 220 |
Fair Value Measurement on Recurring Basis [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ||
Securities Available For Sale: | ||
Securities available for sale | 943 | 962 |
Interest rate swaps | 0 | 0 |
Trading Securities: | ||
Trading securities | 7,204 | 7,098 |
Liabilities | ||
Interest rate swaps | 0 | 0 |
Fair Value Measurement on Recurring Basis [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | U.S. Government Sponsored Entities [Member] | ||
Securities Available For Sale: | ||
Securities available for sale | 0 | 0 |
Trading Securities: | ||
Trading securities | 0 | 0 |
Fair Value Measurement on Recurring Basis [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | States and Political Subdivisions [Member] | ||
Securities Available For Sale: | ||
Securities available for sale | 0 | 0 |
Fair Value Measurement on Recurring Basis [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Residential and Multi-Family Mortgage [Member] | ||
Securities Available For Sale: | ||
Securities available for sale | 0 | 0 |
Fair Value Measurement on Recurring Basis [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Corporate Notes and Bonds [Member] | ||
Securities Available For Sale: | ||
Securities available for sale | 0 | 0 |
Trading Securities: | ||
Trading securities | 250 | 254 |
Fair Value Measurement on Recurring Basis [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Pooled SBA [Member] | ||
Securities Available For Sale: | ||
Securities available for sale | 0 | 0 |
Fair Value Measurement on Recurring Basis [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Other [Member] | ||
Securities Available For Sale: | ||
Securities available for sale | 943 | 962 |
Fair Value Measurement on Recurring Basis [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Corporate Equity Securities [Member] | ||
Trading Securities: | ||
Trading securities | 5,172 | 5,125 |
Fair Value Measurement on Recurring Basis [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Mutual Funds [Member] | ||
Trading Securities: | ||
Trading securities | 1,612 | 1,499 |
Fair Value Measurement on Recurring Basis [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Certificates of Deposit [Member] | ||
Trading Securities: | ||
Trading securities | 170 | 220 |
Fair Value Measurement on Recurring Basis [Member] | Significant Other Observable Inputs (Level 2) [Member] | ||
Securities Available For Sale: | ||
Securities available for sale | 417,356 | 408,747 |
Interest rate swaps | 146 | 149 |
Trading Securities: | ||
Trading securities | 52 | 52 |
Liabilities | ||
Interest rate swaps | (229) | (310) |
Fair Value Measurement on Recurring Basis [Member] | Significant Other Observable Inputs (Level 2) [Member] | U.S. Government Sponsored Entities [Member] | ||
Securities Available For Sale: | ||
Securities available for sale | 111,921 | 108,148 |
Trading Securities: | ||
Trading securities | 52 | 52 |
Fair Value Measurement on Recurring Basis [Member] | Significant Other Observable Inputs (Level 2) [Member] | States and Political Subdivisions [Member] | ||
Securities Available For Sale: | ||
Securities available for sale | 133,466 | 137,723 |
Fair Value Measurement on Recurring Basis [Member] | Significant Other Observable Inputs (Level 2) [Member] | Residential and Multi-Family Mortgage [Member] | ||
Securities Available For Sale: | ||
Securities available for sale | 120,630 | 109,636 |
Fair Value Measurement on Recurring Basis [Member] | Significant Other Observable Inputs (Level 2) [Member] | Corporate Notes and Bonds [Member] | ||
Securities Available For Sale: | ||
Securities available for sale | 17,194 | 17,200 |
Trading Securities: | ||
Trading securities | 0 | 0 |
Fair Value Measurement on Recurring Basis [Member] | Significant Other Observable Inputs (Level 2) [Member] | Pooled SBA [Member] | ||
Securities Available For Sale: | ||
Securities available for sale | 34,145 | 36,040 |
Fair Value Measurement on Recurring Basis [Member] | Significant Other Observable Inputs (Level 2) [Member] | Other [Member] | ||
Securities Available For Sale: | ||
Securities available for sale | 0 | 0 |
Fair Value Measurement on Recurring Basis [Member] | Significant Other Observable Inputs (Level 2) [Member] | Corporate Equity Securities [Member] | ||
Trading Securities: | ||
Trading securities | 0 | 0 |
Fair Value Measurement on Recurring Basis [Member] | Significant Other Observable Inputs (Level 2) [Member] | Mutual Funds [Member] | ||
Trading Securities: | ||
Trading securities | 0 | 0 |
Fair Value Measurement on Recurring Basis [Member] | Significant Other Observable Inputs (Level 2) [Member] | Certificates of Deposit [Member] | ||
Trading Securities: | ||
Trading securities | 0 | 0 |
Fair Value Measurement on Recurring Basis [Member] | Significant Unobservable Inputs (Level 3) [Member] | ||
Securities Available For Sale: | ||
Securities available for sale | 0 | 0 |
Interest rate swaps | 0 | 0 |
Trading Securities: | ||
Trading securities | 0 | 0 |
Liabilities | ||
Interest rate swaps | 0 | 0 |
Fair Value Measurement on Recurring Basis [Member] | Significant Unobservable Inputs (Level 3) [Member] | U.S. Government Sponsored Entities [Member] | ||
Securities Available For Sale: | ||
Securities available for sale | 0 | 0 |
Trading Securities: | ||
Trading securities | 0 | 0 |
Fair Value Measurement on Recurring Basis [Member] | Significant Unobservable Inputs (Level 3) [Member] | States and Political Subdivisions [Member] | ||
Securities Available For Sale: | ||
Securities available for sale | 0 | 0 |
Fair Value Measurement on Recurring Basis [Member] | Significant Unobservable Inputs (Level 3) [Member] | Residential and Multi-Family Mortgage [Member] | ||
Securities Available For Sale: | ||
Securities available for sale | 0 | 0 |
Fair Value Measurement on Recurring Basis [Member] | Significant Unobservable Inputs (Level 3) [Member] | Corporate Notes and Bonds [Member] | ||
Securities Available For Sale: | ||
Securities available for sale | 0 | 0 |
Trading Securities: | ||
Trading securities | 0 | 0 |
Fair Value Measurement on Recurring Basis [Member] | Significant Unobservable Inputs (Level 3) [Member] | Pooled SBA [Member] | ||
Securities Available For Sale: | ||
Securities available for sale | 0 | 0 |
Fair Value Measurement on Recurring Basis [Member] | Significant Unobservable Inputs (Level 3) [Member] | Other [Member] | ||
Securities Available For Sale: | ||
Securities available for sale | 0 | 0 |
Fair Value Measurement on Recurring Basis [Member] | Significant Unobservable Inputs (Level 3) [Member] | Corporate Equity Securities [Member] | ||
Trading Securities: | ||
Trading securities | 0 | 0 |
Fair Value Measurement on Recurring Basis [Member] | Significant Unobservable Inputs (Level 3) [Member] | Mutual Funds [Member] | ||
Trading Securities: | ||
Trading securities | 0 | 0 |
Fair Value Measurement on Recurring Basis [Member] | Significant Unobservable Inputs (Level 3) [Member] | Certificates of Deposit [Member] | ||
Trading Securities: | ||
Trading securities | $ 0 | $ 0 |
Fair Value - Securities Availab
Fair Value - Securities Available for Sale Measured at Fair Value on Recurring Basis Using Significant Unobservable Inputs (Level 3) (Detail) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Fair Value Disclosures [Abstract] | ||
Beginning Balance | $ 0 | $ 2,049 |
Total gains: | ||
Included in other comprehensive income (unrealized) | 0 | 134 |
Sale of available-for-sale securities | 0 | (2,183) |
Ending Balance | $ 0 | $ 0 |
Fair Value - Assets and Liabi33
Fair Value - Assets and Liabilities Measured at Fair Value on Non-Recurring Basis (Detail) - Commercial Mortgages [Member] - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Impaired loans: | ||
Fair value assets and liabilities measured on a nonrecurring basis | $ 60 | $ 11 |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ||
Impaired loans: | ||
Fair value assets and liabilities measured on a nonrecurring basis | 0 | 0 |
Significant Other Observable Inputs (Level 2) [Member] | ||
Impaired loans: | ||
Fair value assets and liabilities measured on a nonrecurring basis | 0 | 0 |
Significant Unobservable Inputs (Level 3) [Member] | ||
Impaired loans: | ||
Fair value assets and liabilities measured on a nonrecurring basis | $ 60 | $ 11 |
Fair Value - Additional Informa
Fair Value - Additional Information (Detail) - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2018 | Mar. 31, 2017 | Dec. 31, 2017 | |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||
Impaired loans, recorded investment | $ 20,670 | $ 18,541 | |
Impaired loans allowance | 6,468 | 5,736 | |
Collateral Dependent Loans [Member] | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||
Impaired loans, recorded investment | 959 | 646 | |
Impaired loans allowance | 899 | $ 635 | |
Impaired loans, positive (negative) provisions | $ 264 | $ (103) |
Fair Value - Quantitative Infor
Fair Value - Quantitative Information about Level 3 Fair Value Measurements for Financial Instruments Measured at Fair Value on Non Recurring Basis (Detail) - Impaired Loans - Commercial Mortgages [Member] - Discounted Cash Flow [Member] - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Fair value | $ 60 | $ 11 |
Valuation Technique | 10.00% | 10.00% |
Weighted Average [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Valuation Technique | 10.00% | 10.00% |
Fair Value - Carrying Amount an
Fair Value - Carrying Amount and Fair Value of Financial Instruments (Detail) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 | Mar. 31, 2017 | Dec. 31, 2016 |
ASSETS | ||||
Cash and cash equivalents | $ 28,604 | $ 35,345 | $ 28,369 | $ 29,183 |
Securities available for sale | 418,299 | 409,709 | ||
Trading securities | 7,256 | 7,150 | ||
Loans held for sale | 1,460 | 852 | ||
Net loans | 2,255,368 | 2,126,266 | ||
Liabilities | ||||
Deposits | (2,210,055) | (2,167,815) | ||
Subordinated debentures | (70,620) | (70,620) | ||
Carrying Amount [Member] | ||||
ASSETS | ||||
Cash and cash equivalents | 28,604 | 35,345 | ||
Securities available for sale | 418,299 | 409,709 | ||
Trading securities | 7,256 | 7,150 | ||
Loans held for sale | 1,460 | 852 | ||
Net loans | 2,255,368 | 2,126,266 | ||
FHLB and other restricted interests | 21,377 | 17,035 | ||
Other equity interests | 5,187 | 4,482 | ||
Interest rate swaps | 146 | 149 | ||
Accrued interest receivable | 9,853 | 9,254 | ||
Liabilities | ||||
Deposits | (2,210,055) | (2,167,815) | ||
FHLB and other borrowings | (356,398) | (257,359) | ||
Subordinated debentures | (70,620) | (70,620) | ||
Interest rate swaps | (229) | (310) | ||
Accrued interest payable | (638) | (554) | ||
Total Fair Value [Member] | ||||
ASSETS | ||||
Cash and cash equivalents | 28,604 | 35,345 | ||
Securities available for sale | 418,299 | 409,709 | ||
Trading securities | 7,256 | 7,150 | ||
Loans held for sale | 1,460 | 853 | ||
Net loans | 2,226,877 | 2,126,824 | ||
Other equity interests | 5,187 | 4,482 | ||
Interest rate swaps | 146 | 149 | ||
Accrued interest receivable | 9,853 | 9,254 | ||
Liabilities | ||||
Deposits | (2,212,220) | (2,165,600) | ||
FHLB and other borrowings | (351,547) | (257,361) | ||
Subordinated debentures | (69,767) | (63,575) | ||
Interest rate swaps | (229) | (310) | ||
Accrued interest payable | (638) | (554) | ||
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ||||
ASSETS | ||||
Cash and cash equivalents | 28,604 | 35,345 | ||
Securities available for sale | 943 | 962 | ||
Trading securities | 7,204 | 7,098 | ||
Loans held for sale | 0 | 0 | ||
Net loans | 0 | 0 | ||
Interest rate swaps | 0 | 0 | ||
Accrued interest receivable | 7 | 6 | ||
Liabilities | ||||
Deposits | (1,833,235) | (1,802,844) | ||
FHLB and other borrowings | 0 | 0 | ||
Subordinated debentures | 0 | 0 | ||
Interest rate swaps | 0 | 0 | ||
Accrued interest payable | 0 | 0 | ||
Significant Other Observable Inputs (Level 2) [Member] | ||||
ASSETS | ||||
Cash and cash equivalents | 0 | 0 | ||
Securities available for sale | 417,356 | 408,747 | ||
Trading securities | 52 | 52 | ||
Loans held for sale | 1,460 | 853 | ||
Net loans | 0 | 0 | ||
Interest rate swaps | 146 | 149 | ||
Accrued interest receivable | 3,117 | 2,651 | ||
Liabilities | ||||
Deposits | (378,985) | (362,756) | ||
FHLB and other borrowings | (351,547) | (257,361) | ||
Subordinated debentures | (69,767) | (63,575) | ||
Interest rate swaps | (229) | (310) | ||
Accrued interest payable | (638) | (554) | ||
Significant Unobservable Inputs (Level 3) [Member] | ||||
ASSETS | ||||
Cash and cash equivalents | 0 | 0 | ||
Securities available for sale | 0 | 0 | ||
Trading securities | 0 | 0 | ||
Loans held for sale | 0 | 0 | ||
Net loans | 2,226,877 | 2,126,824 | ||
Interest rate swaps | 0 | 0 | ||
Accrued interest receivable | 6,729 | 6,597 | ||
Liabilities | ||||
Deposits | 0 | 0 | ||
FHLB and other borrowings | 0 | 0 | ||
Subordinated debentures | 0 | 0 | ||
Interest rate swaps | 0 | 0 | ||
Accrued interest payable | $ 0 | $ 0 |
Securities - Securities Availab
Securities - Securities Available for Sale (Detail) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | $ 422,717 | $ 409,110 |
Unrealized Gains | 3,212 | 4,798 |
Unrealized Losses | (7,630) | (4,199) |
Fair Value | 418,299 | 409,709 |
U.S. Government Sponsored Entities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 113,341 | 108,578 |
Unrealized Gains | 334 | 478 |
Unrealized Losses | (1,754) | (908) |
Fair Value | 111,921 | 108,148 |
States and Political Subdivisions [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 131,608 | 134,428 |
Unrealized Gains | 2,616 | 3,609 |
Unrealized Losses | (758) | (314) |
Fair Value | 133,466 | 137,723 |
Residential and Multi-Family Mortgage [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 123,995 | 111,214 |
Unrealized Gains | 104 | 304 |
Unrealized Losses | (3,469) | (1,882) |
Fair Value | 120,630 | 109,636 |
Corporate Notes and Bonds [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 17,608 | 17,610 |
Unrealized Gains | 45 | 52 |
Unrealized Losses | (459) | (462) |
Fair Value | 17,194 | 17,200 |
Pooled SBA [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 35,145 | 36,260 |
Unrealized Gains | 113 | 355 |
Unrealized Losses | (1,113) | (575) |
Fair Value | 34,145 | 36,040 |
Other [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 1,020 | 1,020 |
Unrealized Gains | 0 | 0 |
Unrealized Losses | (77) | (58) |
Fair Value | $ 943 | $ 962 |
Securities - Additional Informa
Securities - Additional Information (Detail) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2018USD ($)Securities | Mar. 31, 2017USD ($) | Dec. 31, 2017USD ($)Securities | |
Investments, Debt and Equity Securities [Abstract] | |||
Number of securities holdings | Securities | 0 | 0 | |
Shareholders' equity percentage | 10.00% | 10.00% | |
Securities | $ 274,883 | $ 319,575 | |
Tax provision related to net realized gains | $ 0 | $ 484 |
Securities - Trading Securities
Securities - Trading Securities (Detail) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Schedule of Trading Securities and Other Trading Assets [Line Items] | ||
Trading securities | $ 7,256 | $ 7,150 |
Corporate Equity Securities [Member] | ||
Schedule of Trading Securities and Other Trading Assets [Line Items] | ||
Trading securities | 5,172 | 5,125 |
Mutual Funds [Member] | ||
Schedule of Trading Securities and Other Trading Assets [Line Items] | ||
Trading securities | 1,612 | 1,499 |
Corporate Notes and Bonds [Member] | ||
Schedule of Trading Securities and Other Trading Assets [Line Items] | ||
Trading securities | 250 | 254 |
U.S. Government Sponsored Entities [Member] | ||
Schedule of Trading Securities and Other Trading Assets [Line Items] | ||
Trading securities | 52 | 52 |
Certificates of Deposit [Member] | ||
Schedule of Trading Securities and Other Trading Assets [Line Items] | ||
Trading securities | $ 170 | $ 220 |
Securities - Securities with Un
Securities - Securities with Unrealized Losses Aggregated by Investment Category and Length of Time that Individual Securities have been in Continuous Unrealized Loss Position (Detail) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Schedule of Available-for-sale Securities [Line Items] | ||
Less than 12 Months, Fair Value | $ 187,610 | $ 106,735 |
Less than 12 Months, Unrealized Loss | (2,736) | (771) |
12 Months or More, Fair Value | 129,911 | 134,831 |
12 Months or More, Unrealized Loss | (4,894) | (3,428) |
Total, Fair Value | 317,521 | 241,566 |
Total, Unrealized Loss | (7,630) | (4,199) |
U.S. Government Sponsored Entities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Less than 12 Months, Fair Value | 63,833 | 55,696 |
Less than 12 Months, Unrealized Loss | (1,262) | (540) |
12 Months or More, Fair Value | 34,590 | 34,754 |
12 Months or More, Unrealized Loss | (492) | (368) |
Total, Fair Value | 98,423 | 90,450 |
Total, Unrealized Loss | (1,754) | (908) |
States and Political Subdivisions [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Less than 12 Months, Fair Value | 61,022 | 15,890 |
Less than 12 Months, Unrealized Loss | (456) | (69) |
12 Months or More, Fair Value | 4,045 | 4,104 |
12 Months or More, Unrealized Loss | (302) | (245) |
Total, Fair Value | 65,067 | 19,994 |
Total, Unrealized Loss | (758) | (314) |
Residential and Multi-Family Mortgage [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Less than 12 Months, Fair Value | 50,017 | 30,144 |
Less than 12 Months, Unrealized Loss | (913) | (153) |
12 Months or More, Fair Value | 59,984 | 63,699 |
12 Months or More, Unrealized Loss | (2,556) | (1,729) |
Total, Fair Value | 110,001 | 93,843 |
Total, Unrealized Loss | (3,469) | (1,882) |
Corporate Notes and Bonds [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Less than 12 Months, Fair Value | 5,225 | 5,005 |
Less than 12 Months, Unrealized Loss | (38) | (9) |
12 Months or More, Fair Value | 9,077 | 9,042 |
12 Months or More, Unrealized Loss | (421) | (453) |
Total, Fair Value | 14,302 | 14,047 |
Total, Unrealized Loss | (459) | (462) |
Pooled SBA [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Less than 12 Months, Fair Value | 7,513 | 0 |
Less than 12 Months, Unrealized Loss | (67) | 0 |
12 Months or More, Fair Value | 21,272 | 22,270 |
12 Months or More, Unrealized Loss | (1,046) | (575) |
Total, Fair Value | 28,785 | 22,270 |
Total, Unrealized Loss | (1,113) | (575) |
Other [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Less than 12 Months, Fair Value | 0 | 0 |
Less than 12 Months, Unrealized Loss | 0 | 0 |
12 Months or More, Fair Value | 943 | 962 |
12 Months or More, Unrealized Loss | (77) | (58) |
Total, Fair Value | 943 | 962 |
Total, Unrealized Loss | $ (77) | $ (58) |
Securities - Roll-Forward of Ot
Securities - Roll-Forward of Other-Than-Temporary Impairment Amount Related to Credit Losses (Detail) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Marketable Securities [Abstract] | ||
Balance of credit losses on debt securities for which a portion of other-than-temporary impairment was recognized in earnings, beginning of period | $ 0 | $ 2,071 |
Credit losses previously recognized on securities sold during the period | 0 | (2,071) |
Additional credit loss for which other-than-temporary impairment was not previously recognized | 0 | 0 |
Additional credit loss for which other-than-temporary impairment was previously recognized | 0 | 0 |
Balance of credit losses on debt securities for which a portion of other-than-temporary impairment was recognized in earnings, end of period | $ 0 | $ 0 |
Securities - Information Pertai
Securities - Information Pertaining to Security Sales (Detail) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Investments, Debt and Equity Securities [Abstract] | ||
Proceeds | $ 0 | $ 2,183 |
Gross Gains | 0 | 1,383 |
Gross Losses | $ 0 | $ 0 |
Securities - Schedule of Contra
Securities - Schedule of Contractual Maturity of Securities Available for Sale, Excluding Equity Securities (Detail) $ in Thousands | Mar. 31, 2018USD ($) |
Schedule of Available-for-sale Securities [Line Items] | |
1 year or less, Amortized Cost | $ 58,820 |
1 year - 5 years, Amortized Cost | 154,027 |
5 years - 10 years, Amortized Cost | 43,991 |
After 10 years, Amortized Cost | 5,719 |
Total, Amortized Cost | 262,557 |
1 year or less, Fair Value | 58,626 |
1 year - 5 years, Fair Value | 154,001 |
5 years - 10 years, Fair Value | 44,236 |
After 10 years, Fair Value | 5,718 |
Total, Fair Value | 262,581 |
Total debt securities, Amortized Cost | 421,697 |
Total debt securities, Fair Value | 417,356 |
Residential and Multi-Family Mortgage [Member] | |
Schedule of Available-for-sale Securities [Line Items] | |
Mortgage & asset backed securities, Amortized Cost | 123,995 |
Mortgage & asset backed securities, Fair Value | 120,630 |
Pooled SBA [Member] | |
Schedule of Available-for-sale Securities [Line Items] | |
Mortgage & asset backed securities, Amortized Cost | 35,145 |
Mortgage & asset backed securities, Fair Value | $ 34,145 |
Loans - Schedule of Net Loans (
Loans - Schedule of Net Loans (Detail) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Loan Portfolio By Loan Grade [Line Items] | ||
Commercial, industrial, and agricultural | $ 773,473 | $ 749,138 |
Commercial mortgages | 694,517 | 600,065 |
Residential real estate | 725,683 | 713,347 |
Credit cards | 6,965 | 6,753 |
Overdrafts | 1,134 | 352 |
Less: unearned discount | (3,629) | (3,889) |
Less: allowance for loan losses | (20,756) | (19,693) |
Net loans | 2,255,368 | 2,126,266 |
Consumer Portfolio Segment [Member] | ||
Loan Portfolio By Loan Grade [Line Items] | ||
Consumer | $ 77,981 | $ 80,193 |
Loans - Additional Information
Loans - Additional Information (Detail) | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2018USD ($)Loans | Mar. 31, 2017Loans | Dec. 31, 2017USD ($)Loans | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Net unamortized loan fees | $ | $ 3,211,000 | $ 2,574,000 | |
Percentage of comprised loan, commercial, industrial and agricultural loans | 34.00% | 35.00% | |
Percentage of comprised loan, commercial mortgage loans | 31.00% | 28.00% | |
Percentage of loan-to-value to business equipment | 80.00% | ||
Percentage of loan-to-value to accounts receivable | 75.00% | ||
Percentage of loan-to-value to business inventory | 60.00% | ||
Percentage of loan-to-value to real estate | 85.00% | ||
Percentage of residential real estate loan in portfolio | 32.00% | 33.00% | |
Number of Loans | Loans | 19 | 19 | |
Minimum period to be considered for loan to have defaulted | 90 days | ||
Principal balances forgiven in connection with loan restructuring | $ | $ 0 | $ 0 | |
Outstanding balance of semi annual loans | Greater than $1 million | ||
Outstanding balance of annual loans | Less than $1 million | ||
Trouble Debt Restructuring [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Number of Loans | Loans | 0 | 0 | |
Maximum [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Maximum percentage of consumer loan and credit card in portfolio | 10.00% | 10.00% |
Loans - Allowance for Loan Loss
Loans - Allowance for Loan Losses (Detail) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Allowance for loan losses, Beginning Balance | $ 19,693 | $ 16,330 |
Charge-offs | (726) | (931) |
Recoveries | 158 | 131 |
Provision (benefit) for loan losses | 1,631 | 1,016 |
Allowance for loan losses, Ending Balance | 20,756 | 16,546 |
Commercial, Industrial, and Agricultural [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Allowance for loan losses, Beginning Balance | 6,160 | 5,428 |
Charge-offs | (31) | (1) |
Recoveries | 68 | 12 |
Provision (benefit) for loan losses | 85 | (654) |
Allowance for loan losses, Ending Balance | 6,282 | 4,785 |
Commercial Mortgages [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Allowance for loan losses, Beginning Balance | 9,007 | 6,753 |
Charge-offs | 0 | 0 |
Recoveries | 0 | 2 |
Provision (benefit) for loan losses | 1,013 | 602 |
Allowance for loan losses, Ending Balance | 10,020 | 7,357 |
Residential Real Estate [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Allowance for loan losses, Beginning Balance | 2,033 | 1,653 |
Charge-offs | 0 | (68) |
Recoveries | 3 | 71 |
Provision (benefit) for loan losses | 16 | 366 |
Allowance for loan losses, Ending Balance | 2,052 | 2,022 |
Consumer [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Allowance for loan losses, Beginning Balance | 2,179 | 2,215 |
Charge-offs | (590) | (735) |
Recoveries | 49 | 2 |
Provision (benefit) for loan losses | 427 | 607 |
Allowance for loan losses, Ending Balance | 2,065 | 2,089 |
Credit Cards [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Allowance for loan losses, Beginning Balance | 120 | 93 |
Charge-offs | (19) | (58) |
Recoveries | 7 | 11 |
Provision (benefit) for loan losses | 15 | 59 |
Allowance for loan losses, Ending Balance | 123 | 105 |
Overdrafts [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Allowance for loan losses, Beginning Balance | 194 | 188 |
Charge-offs | (86) | (69) |
Recoveries | 31 | 33 |
Provision (benefit) for loan losses | 75 | 36 |
Allowance for loan losses, Ending Balance | $ 214 | $ 188 |
Loans - Allowance for Loan Lo47
Loans - Allowance for Loan Losses and Recorded Investment in Loans by Portfolio Segment (Detail) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 | Mar. 31, 2017 | Dec. 31, 2016 |
Ending allowance balance attributable to loans: | ||||
Allowance for loan losses, Individually evaluated for impairment | $ 22 | $ 47 | ||
Allowance for loan losses, Collectively evaluated for impairment | 14,288 | 13,957 | ||
Allowance for loan losses, Modified in a troubled debt restructuring | 6,446 | 5,689 | ||
Acquired with deteriorated credit quality | 20,756 | 19,693 | $ 16,546 | $ 16,330 |
Loans: | ||||
Loans individually evaluated for impairment | 3,310 | 1,238 | ||
Loans collectively evaluated for impairment | 2,257,939 | 2,130,228 | ||
Acquired with deteriorated credit quality | 1,467,990 | 1,349,203 | ||
Loans modified in a troubled debt restructuring | 17,360 | 17,303 | ||
Total ending loans balance | 2,279,753 | 2,149,848 | ||
Receivables Acquired with Deteriorated Credit Quality [Member] | ||||
Ending allowance balance attributable to loans: | ||||
Acquired with deteriorated credit quality | 0 | 0 | ||
Loans: | ||||
Acquired with deteriorated credit quality | 1,144 | 1,079 | ||
Commercial, Industrial, and Agricultural [Member] | ||||
Ending allowance balance attributable to loans: | ||||
Allowance for loan losses, Individually evaluated for impairment | 20 | 47 | ||
Allowance for loan losses, Collectively evaluated for impairment | 5,984 | 5,868 | ||
Allowance for loan losses, Modified in a troubled debt restructuring | 278 | 245 | ||
Acquired with deteriorated credit quality | 6,282 | 6,160 | 4,785 | 5,428 |
Loans: | ||||
Loans individually evaluated for impairment | 1,418 | 1,187 | ||
Loans collectively evaluated for impairment | 766,905 | 742,738 | ||
Acquired with deteriorated credit quality | 773,473 | 749,138 | ||
Loans modified in a troubled debt restructuring | 5,150 | 5,213 | ||
Total ending loans balance | 773,473 | 749,138 | ||
Commercial, Industrial, and Agricultural [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | ||||
Ending allowance balance attributable to loans: | ||||
Acquired with deteriorated credit quality | 0 | 0 | ||
Loans: | ||||
Acquired with deteriorated credit quality | 0 | 0 | ||
Commercial Mortgages [Member] | ||||
Ending allowance balance attributable to loans: | ||||
Allowance for loan losses, Individually evaluated for impairment | 2 | 0 | ||
Allowance for loan losses, Collectively evaluated for impairment | 3,850 | 3,563 | ||
Allowance for loan losses, Modified in a troubled debt restructuring | 6,168 | 5,444 | ||
Acquired with deteriorated credit quality | 10,020 | 9,007 | 7,357 | 6,753 |
Loans: | ||||
Loans individually evaluated for impairment | 1,892 | 51 | ||
Loans collectively evaluated for impairment | 679,271 | 586,845 | ||
Acquired with deteriorated credit quality | 694,517 | 600,065 | ||
Loans modified in a troubled debt restructuring | 12,210 | 12,090 | ||
Total ending loans balance | 694,517 | 600,065 | ||
Commercial Mortgages [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | ||||
Ending allowance balance attributable to loans: | ||||
Acquired with deteriorated credit quality | 0 | 0 | ||
Loans: | ||||
Acquired with deteriorated credit quality | 1,144 | 1,079 | ||
Residential Real Estate [Member] | ||||
Ending allowance balance attributable to loans: | ||||
Allowance for loan losses, Individually evaluated for impairment | 0 | 0 | ||
Allowance for loan losses, Collectively evaluated for impairment | 2,052 | 2,033 | ||
Allowance for loan losses, Modified in a troubled debt restructuring | 0 | 0 | ||
Acquired with deteriorated credit quality | 2,052 | 2,033 | 2,022 | 1,653 |
Loans: | ||||
Loans individually evaluated for impairment | 0 | 0 | ||
Loans collectively evaluated for impairment | 725,683 | 713,347 | ||
Loans modified in a troubled debt restructuring | 0 | 0 | ||
Total ending loans balance | 725,683 | 713,347 | ||
Residential Real Estate [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | ||||
Ending allowance balance attributable to loans: | ||||
Acquired with deteriorated credit quality | 0 | 0 | ||
Loans: | ||||
Acquired with deteriorated credit quality | 0 | 0 | ||
Consumer [Member] | ||||
Ending allowance balance attributable to loans: | ||||
Allowance for loan losses, Individually evaluated for impairment | 0 | 0 | ||
Allowance for loan losses, Collectively evaluated for impairment | 2,065 | 2,179 | ||
Allowance for loan losses, Modified in a troubled debt restructuring | 0 | 0 | ||
Acquired with deteriorated credit quality | 2,065 | 2,179 | 2,089 | 2,215 |
Loans: | ||||
Loans individually evaluated for impairment | 0 | 0 | ||
Loans collectively evaluated for impairment | 77,981 | 80,193 | ||
Loans modified in a troubled debt restructuring | 0 | 0 | ||
Total ending loans balance | 77,981 | 80,193 | ||
Consumer [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | ||||
Ending allowance balance attributable to loans: | ||||
Acquired with deteriorated credit quality | 0 | 0 | ||
Loans: | ||||
Acquired with deteriorated credit quality | 0 | 0 | ||
Credit Cards [Member] | ||||
Ending allowance balance attributable to loans: | ||||
Allowance for loan losses, Individually evaluated for impairment | 0 | 0 | ||
Allowance for loan losses, Collectively evaluated for impairment | 123 | 120 | ||
Allowance for loan losses, Modified in a troubled debt restructuring | 0 | 0 | ||
Acquired with deteriorated credit quality | 123 | 120 | 105 | 93 |
Loans: | ||||
Loans individually evaluated for impairment | 0 | 0 | ||
Loans collectively evaluated for impairment | 6,965 | 6,753 | ||
Loans modified in a troubled debt restructuring | 0 | 0 | ||
Total ending loans balance | 6,965 | 6,753 | ||
Credit Cards [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | ||||
Ending allowance balance attributable to loans: | ||||
Acquired with deteriorated credit quality | 0 | 0 | ||
Loans: | ||||
Acquired with deteriorated credit quality | 0 | 0 | ||
Overdrafts [Member] | ||||
Ending allowance balance attributable to loans: | ||||
Allowance for loan losses, Individually evaluated for impairment | 0 | 0 | ||
Allowance for loan losses, Collectively evaluated for impairment | 214 | 194 | ||
Allowance for loan losses, Modified in a troubled debt restructuring | 0 | 0 | ||
Acquired with deteriorated credit quality | 214 | 194 | $ 188 | $ 188 |
Loans: | ||||
Loans individually evaluated for impairment | 0 | 0 | ||
Loans collectively evaluated for impairment | 1,134 | 352 | ||
Loans modified in a troubled debt restructuring | 0 | 0 | ||
Total ending loans balance | 1,134 | 352 | ||
Overdrafts [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | ||||
Ending allowance balance attributable to loans: | ||||
Acquired with deteriorated credit quality | 0 | 0 | ||
Loans: | ||||
Acquired with deteriorated credit quality | $ 0 | $ 0 |
Loans - Loans Individually Eval
Loans - Loans Individually Evaluated for Impairment Including Loans Modified in Troubled Debt Restructurings by Portfolio Segment (Detail) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Financing Receivable, Impaired [Line Items] | ||
Unpaid Principal Balance, Total | $ 22,683 | $ 20,330 |
Recorded Investment, Total | 20,670 | 18,541 |
Allowance for Loan Losses Allocated | 6,468 | 5,736 |
Commercial, Industrial, and Agricultural [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Unpaid Principal Balance, Related Allowance | 1,861 | 1,915 |
Recorded Investment, Related Allowance | 1,852 | 1,915 |
Allowance for Loan Losses Allocated | 298 | 292 |
Unpaid Principal Balance, No Related Allowance | 5,478 | 5,264 |
Recorded Investment, No Related Allowance | 4,716 | 4,485 |
Allowance for Loan Losses Allocated, No Related Allowance | 0 | 0 |
Commercial Mortgages [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Unpaid Principal Balance, Related Allowance | 9,290 | 9,940 |
Recorded Investment, Related Allowance | 9,007 | 9,731 |
Allowance for Loan Losses Allocated | 6,170 | 5,444 |
Unpaid Principal Balance, No Related Allowance | 6,054 | 3,211 |
Recorded Investment, No Related Allowance | 5,095 | 2,410 |
Allowance for Loan Losses Allocated, No Related Allowance | 0 | 0 |
Residential Real Estate [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Unpaid Principal Balance, Related Allowance | 0 | 0 |
Recorded Investment, Related Allowance | 0 | 0 |
Allowance for Loan Losses Allocated | 0 | 0 |
Unpaid Principal Balance, No Related Allowance | 0 | 0 |
Recorded Investment, No Related Allowance | 0 | 0 |
Allowance for Loan Losses Allocated, No Related Allowance | $ 0 | $ 0 |
Loans - Impaired Financing Rece
Loans - Impaired Financing Receivables with Related and not Related Allowances (Detail) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Financing Receivable, Impaired [Line Items] | ||
Average Recorded Investment, Total | $ 19,491 | $ 18,618 |
Interest Income Recognized, Total | 99 | 179 |
Cash Basis Interest Recognized, Total | 99 | 179 |
Commercial, Industrial, and Agricultural [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Average Recorded Investment, Related Allowance | 1,884 | 1,636 |
Interest Income Recognized, Related Allowance | 22 | 18 |
Cash Basis Interest Recognized, Related Allowance | 22 | 18 |
Average Recorded Investment, No Related Allowance | 4,600 | 1,712 |
Interest Income Recognized, No Related Allowance | 46 | 16 |
Cash Basis Interest Recognized, No Related Allowance | 46 | 16 |
Commercial Mortgages [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Average Recorded Investment, Related Allowance | 9,234 | 15,270 |
Interest Income Recognized, Related Allowance | 18 | 145 |
Cash Basis Interest Recognized, Related Allowance | 18 | 145 |
Average Recorded Investment, No Related Allowance | 3,753 | 0 |
Interest Income Recognized, No Related Allowance | 13 | 0 |
Cash Basis Interest Recognized, No Related Allowance | 13 | 0 |
Residential Real Estate [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Average Recorded Investment, Related Allowance | 0 | 0 |
Interest Income Recognized, Related Allowance | 0 | 0 |
Cash Basis Interest Recognized, Related Allowance | 0 | 0 |
Average Recorded Investment, No Related Allowance | 0 | 0 |
Interest Income Recognized, No Related Allowance | 0 | 0 |
Cash Basis Interest Recognized, No Related Allowance | $ 0 | $ 0 |
Loans - Nonaccrual Loans and Lo
Loans - Nonaccrual Loans and Loans Past Due over 90 Days Still Accruing Interest by Class of Loans (Detail) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual | $ 19,750 | $ 19,232 |
Past Due Over 90 Days Still on Accrual | 475 | 477 |
Commercial, Industrial, and Agricultural [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual | 2,737 | 1,869 |
Past Due Over 90 Days Still on Accrual | 0 | 78 |
Commercial Mortgages [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual | 11,361 | 11,065 |
Past Due Over 90 Days Still on Accrual | 0 | 0 |
Residential Real Estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual | 5,038 | 5,470 |
Past Due Over 90 Days Still on Accrual | 425 | 338 |
Consumer [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual | 614 | 828 |
Past Due Over 90 Days Still on Accrual | 13 | 17 |
Credit Cards [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual | 0 | 0 |
Past Due Over 90 Days Still on Accrual | $ 37 | $ 44 |
Loans - Aging of Recorded Inves
Loans - Aging of Recorded Investment in Past Due Loans (Detail) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | $ 14,617 | $ 14,761 |
Loans Not Past Due | 2,265,136 | 2,135,087 |
Total | 2,279,753 | 2,149,848 |
30 to 59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 4,345 | 5,753 |
60 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 2,535 | 2,457 |
Greater than 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 7,737 | 6,551 |
Commercial, Industrial, and Agricultural [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 3,479 | 4,139 |
Loans Not Past Due | 769,994 | 744,999 |
Total | 773,473 | 749,138 |
Commercial, Industrial, and Agricultural [Member] | 30 to 59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 2,371 | 2,745 |
Commercial, Industrial, and Agricultural [Member] | 60 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 173 | 646 |
Commercial, Industrial, and Agricultural [Member] | Greater than 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 935 | 748 |
Commercial Mortgages [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 2,031 | 525 |
Loans Not Past Due | 692,486 | 599,540 |
Total | 694,517 | 600,065 |
Commercial Mortgages [Member] | 30 to 59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 3 | 233 |
Commercial Mortgages [Member] | 60 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 314 | 0 |
Commercial Mortgages [Member] | Greater than 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 1,714 | 292 |
Residential Real Estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 7,632 | 8,439 |
Loans Not Past Due | 718,051 | 704,908 |
Total | 725,683 | 713,347 |
Residential Real Estate [Member] | 30 to 59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 1,565 | 2,290 |
Residential Real Estate [Member] | 60 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 1,596 | 1,494 |
Residential Real Estate [Member] | Greater than 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 4,471 | 4,655 |
Consumer [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 1,403 | 1,573 |
Loans Not Past Due | 76,578 | 78,620 |
Total | 77,981 | 80,193 |
Consumer [Member] | 30 to 59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 376 | 454 |
Consumer [Member] | 60 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 447 | 307 |
Consumer [Member] | Greater than 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 580 | 812 |
Credit Cards [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 72 | 85 |
Loans Not Past Due | 6,893 | 6,668 |
Total | 6,965 | 6,753 |
Credit Cards [Member] | 30 to 59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 30 | 31 |
Credit Cards [Member] | 60 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 5 | 10 |
Credit Cards [Member] | Greater than 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 37 | 44 |
Overdrafts [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 0 | 0 |
Loans Not Past Due | 1,134 | 352 |
Total | 1,134 | 352 |
Overdrafts [Member] | 30 to 59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 0 | 0 |
Overdrafts [Member] | 60 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 0 | 0 |
Overdrafts [Member] | Greater than 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | $ 0 | $ 0 |
Loans - Restructured in Trouble
Loans - Restructured in Troubled Debt (Detail) $ in Thousands | 3 Months Ended | 12 Months Ended |
Mar. 31, 2018USD ($)Loans | Dec. 31, 2017USD ($)Loans | |
Financing Receivable, Modifications [Line Items] | ||
Number of Loans | Loans | 19 | 19 |
Loan Balance | $ 17,360 | $ 17,303 |
Specific Reserve | $ 6,446 | $ 5,689 |
Commercial, Industrial, and Agricultural [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Loans | Loans | 10 | 10 |
Loan Balance | $ 5,150 | $ 5,213 |
Specific Reserve | $ 278 | $ 245 |
Commercial Mortgages [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Loans | Loans | 9 | 9 |
Loan Balance | $ 12,210 | $ 12,090 |
Specific Reserve | $ 6,168 | $ 5,444 |
Residential Real Estate [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Loans | Loans | 0 | 0 |
Loan Balance | $ 0 | $ 0 |
Specific Reserve | $ 0 | $ 0 |
Consumer [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Loans | Loans | 0 | 0 |
Loan Balance | $ 0 | $ 0 |
Specific Reserve | $ 0 | $ 0 |
Credit Cards [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Loans | Loans | 0 | 0 |
Loan Balance | $ 0 | $ 0 |
Specific Reserve | $ 0 | $ 0 |
Loans - Schedule of Loan Assign
Loans - Schedule of Loan Assigned Risk Rating within 12 Months of Balance Sheet Date (Detail) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable recorded investment | $ 1,467,990 | $ 1,349,203 |
Commercial, Industrial, and Agricultural [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable recorded investment | 773,473 | 749,138 |
Commercial Mortgages [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable recorded investment | 694,517 | 600,065 |
Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable recorded investment | 1,417,246 | 1,294,733 |
Pass [Member] | Commercial, Industrial, and Agricultural [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable recorded investment | 740,558 | 713,102 |
Pass [Member] | Commercial Mortgages [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable recorded investment | 676,688 | 581,631 |
Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable recorded investment | 12,284 | 21,145 |
Special Mention [Member] | Commercial, Industrial, and Agricultural [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable recorded investment | 9,513 | 16,726 |
Special Mention [Member] | Commercial Mortgages [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable recorded investment | 2,771 | 4,419 |
Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable recorded investment | 38,460 | 33,325 |
Substandard [Member] | Commercial, Industrial, and Agricultural [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable recorded investment | 23,402 | 19,310 |
Substandard [Member] | Commercial Mortgages [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable recorded investment | 15,058 | 14,015 |
Doubtful [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable recorded investment | 0 | 0 |
Doubtful [Member] | Commercial, Industrial, and Agricultural [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable recorded investment | 0 | 0 |
Doubtful [Member] | Commercial Mortgages [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable recorded investment | $ 0 | $ 0 |
Loans - Recorded Investment in
Loans - Recorded Investment in Residential, Consumer and Credit Card Loans Based on Payment Activity (Detail) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Financing Receivable, Recorded Investment [Line Items] | ||
Residential real estate | $ 725,683 | $ 713,347 |
Credit cards | 6,965 | 6,753 |
Consumer Portfolio Segment [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Consumer | 77,981 | 80,193 |
Performing [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Residential real estate | 720,220 | 707,539 |
Credit cards | 6,928 | 6,709 |
Performing [Member] | Consumer Portfolio Segment [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Consumer | 77,354 | 79,348 |
Non-Performing [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Residential real estate | 5,463 | 5,808 |
Credit cards | 37 | 44 |
Non-Performing [Member] | Consumer Portfolio Segment [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Consumer | $ 627 | $ 845 |
Loans - Summary of Holiday's Lo
Loans - Summary of Holiday's Loan Portfolio (Detail) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Less: unearned discount | $ (3,629) | $ (3,889) |
Consumer Portfolio Segment [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Consumer | 77,981 | 80,193 |
Holiday Financial Services Corporation [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Less: unearned discount | (3,629) | (3,889) |
Total | 18,263 | 19,539 |
Holiday Financial Services Corporation [Member] | Consumer Portfolio Segment [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Consumer | $ 21,892 | $ 23,428 |
Deposits - Total Deposits (Deta
Deposits - Total Deposits (Detail) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2018 | Dec. 31, 2017 | |
Banking and Thrift [Abstract] | ||
Percentage Change, Checking, non-interest bearing | (3.40%) | |
Percentage Change, Checking, interest bearing | 4.70% | |
Percentage Change, Savings accounts | 1.60% | |
Percentage Change, Certificates of deposit | 3.20% | |
Percentage change, Total | 1.90% | |
Checking, non-interest bearing | $ 311,052 | $ 321,858 |
Checking, interest bearing | 592,075 | 565,399 |
Savings accounts | 930,108 | 915,587 |
Certificates of deposit | 376,820 | 364,971 |
Total deposits | $ 2,210,055 | $ 2,167,815 |
Earnings Per Share - Additional
Earnings Per Share - Additional Information (Detail) - shares shares in Thousands | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Earnings Per Share [Abstract] | ||
Dilutive effects of assumed exercises of stock options | 0 | 0 |
Earnings Per Share - Computatio
Earnings Per Share - Computation of Basic and Diluted Earnings Per Share (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Basic earnings per common share computation: | ||
Net income per consolidated statements of income | $ 7,097 | $ 6,480 |
Net earnings allocated to participating securities | (34) | (39) |
Net earnings allocated to common stock | $ 7,063 | $ 6,441 |
Weighted average common shares outstanding, including shares considered participating securities | 15,273 | 14,979 |
Less: Average participating securities | (72) | (86) |
Weighted average shares | 15,201 | 14,893 |
Basic earnings per common share | $ 0.46 | $ 0.43 |
Diluted earnings per common share computation: | ||
Net earnings allocated to common stock | $ 7,063 | $ 6,441 |
Weighted average common shares outstanding for basic earnings per common share | 15,201 | 14,893 |
Add: Dilutive effects of assumed exercises of stock options | 0 | 0 |
Weighted average shares and dilutive potential common shares | 15,201 | 14,893 |
Diluted earnings per common share | $ 0.46 | $ 0.43 |
Distributed Earnings Allocated to Common Stock [Member] | ||
Basic earnings per common share computation: | ||
Net earnings allocated to common stock | $ 2,509 | $ 2,508 |
Undistributed Earnings Allocated to Common Stock [Member] | ||
Basic earnings per common share computation: | ||
Net earnings allocated to common stock | $ 4,554 | $ 3,933 |
Derivative Instruments - Additi
Derivative Instruments - Additional Information (Detail) - USD ($) | May 03, 2011 | Mar. 31, 2018 | Dec. 31, 2017 |
Schedule Of Loans And Allowance For Loan By Class Individually And Collectively Evaluated For Impairment [Line Items] | |||
Term of interest rate swap agreement executed | 5 years | ||
Interest rate swap inception date | May 3, 2011 | ||
Value of subordinated note hedged | $ 10,000,000 | ||
Interest rate swap effective date | Sep. 15, 2013 | ||
Interest rate | The interest rate swap involves the receipt of variable-rate amounts in exchange for fixed-rate payments from September 15, 2013 to September 15, 2018 without exchange of the underlying notional amount. | ||
Derivatives designated as fair value hedges | $ 0 | $ 0 | |
Accumulated other comprehensive loss estimated | 217,000 | ||
Collateral amount for counterparty interest rate swap | $ 1,400,000 | 1,400,000 | |
LIBOR Plus 155 Basis Points [Member] | |||
Schedule Of Loans And Allowance For Loan By Class Individually And Collectively Evaluated For Impairment [Line Items] | |||
Variable rate on the subordinated debt on effective date in case of interest rate swap | LIBOR plus 155 basis points | ||
Variable interest rate on subordinate debt | 3.43% | ||
4.02% Fixed Rate Plus 155 Basis Points [Member] | |||
Schedule Of Loans And Allowance For Loan By Class Individually And Collectively Evaluated For Impairment [Line Items] | |||
Variable rate on the subordinated debt on effective date in case of interest rate swap | 4.02% fixed rate plus 155 basis points | ||
Interest rate being paid by the corporation | 5.57% | ||
Interest Rate Swaps [Member] | |||
Schedule Of Loans And Allowance For Loan By Class Individually And Collectively Evaluated For Impairment [Line Items] | |||
Derivative basis spread on variable rate | 1.55% | ||
Derivative fixed interest rate rate basis | 4.02% | ||
Cash collateral pledged | $ 750,000 | $ 750,000 |
Derivative Instruments - Amount
Derivative Instruments - Amounts and Locations of Activity Related to Interest Rate Swaps Designated as Cash Flow Hedges within Corporation's Consolidated Balance Sheet and Statement of Income (Detail) - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2018 | Mar. 31, 2017 | Dec. 31, 2017 | |
Derivative [Line Items] | |||
Interest rate contracts | $ 62 | $ 55 | |
Accrued Interest and Other Liabilities [Member] | |||
Derivative [Line Items] | |||
Interest rate contract, fair value | (83) | $ (161) | |
Interest Expense - Subordinated Debentures [Member] | |||
Derivative [Line Items] | |||
Interest expense, Fair Value | (58) | (76) | |
Other Income [Member] | |||
Derivative [Line Items] | |||
Other income | $ 0 | $ 0 |
Derivative Instruments - Amou61
Derivative Instruments - Amounts and Locations of Activity Related to Back-to-Back Interest Rate Swaps within Corporation's Consolidated Balance Sheet (Detail) - USD ($) | 3 Months Ended | 12 Months Ended |
Mar. 31, 2018 | Dec. 31, 2017 | |
3rd Party Interest Rate Swaps [Member] | ||
Schedule Of Loans And Allowance For Loan By Class Individually And Collectively Evaluated For Impairment [Line Items] | ||
Notional Amount | $ 11,772,000 | $ 11,848,000 |
Weighted Average Maturity (in years) | 7 years 9 months 18 days | 8 years |
Weighted Average Fixed Rate | 4.52% | 4.51% |
Weighted Average Variable Rate, Description | 1 month LIBOR + 2.37% | 1 month LIBOR + 2.37% |
Weighted Average Variable Rate | 2.37% | 2.37% |
Fair Value | $ (146,000) | $ 149,000 |
Customer Interest Rate Swaps [Member] | ||
Schedule Of Loans And Allowance For Loan By Class Individually And Collectively Evaluated For Impairment [Line Items] | ||
Notional Amount | $ 11,772,000 | $ 11,848,000 |
Weighted Average Maturity (in years) | 7 years 9 months 18 days | 8 years |
Weighted Average Fixed Rate | 4.52% | 4.51% |
Weighted Average Variable Rate, Description | 1 month LIBOR + 2.37% | 1 month LIBOR + 2.37% |
Weighted Average Variable Rate | 2.37% | 2.37% |
Fair Value | $ 146,000 | $ (149,000) |
Revenue from Contracts with C62
Revenue from Contracts with Customers - Additional Information (Detail) | 3 Months Ended |
Mar. 31, 2018 | |
Revenue from Contract with Customer [Abstract] | |
Percetage of primary source of revenue | 93.30% |
Disaggregation of Revenue Deriv
Disaggregation of Revenue Derived from Contracts with Customers (Detail) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Non-interest Income | ||
Service charges on deposit accounts | $ 1,247 | $ 1,090 |
Wealth and asset management fees | 1,030 | 871 |
Mortgage banking | 208 | 184 |
Card processing and interchange income | 971 | 878 |
Net gains (losses) on sales of securities | 0 | 1,383 |
Other income | 1,295 | 1,367 |
Total non-interest income | $ 4,751 | $ 5,773 |
Contingency - Additional Inform
Contingency - Additional Information (Detail) - USD ($) $ in Thousands | Mar. 31, 2018 | Mar. 28, 2018 |
Commitments and Contingencies Disclosure [Abstract] | ||
Sales tax examination excluding penalties and interest accrued | $ 824 | |
Sales tax examination penalties and interest accrued | 339 | |
Sales tax examination liability refund adjustment from settlement with tax authority | $ 1,163 | |
Sales tax contingent liabilities | $ 96 |