Document and Entity Information
Document and Entity Information - shares | 3 Months Ended | |
Mar. 31, 2017 | Apr. 28, 2017 | |
Document And Entity Information [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Mar. 31, 2017 | |
Document Fiscal Year Focus | 2,017 | |
Document Fiscal Period Focus | Q1 | |
Trading Symbol | BANF | |
Entity Registrant Name | BANCFIRST CORP /OK/ | |
Entity Central Index Key | 760,498 | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Accelerated Filer | |
Entity Common Stock, Shares Outstanding | 15,906,276 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 |
ASSETS | ||
Cash and due from banks | $ 180,051 | $ 183,921 |
Interest-bearing deposits with banks | 1,857,961 | 1,666,540 |
Federal funds sold | 200 | 700 |
Securities (fair value: $463,285 and $469,871, respectively) | 463,250 | 469,833 |
Loans held for sale | 7,754 | 9,318 |
Loans (net of unearned interest) | 4,390,775 | 4,400,232 |
Allowance for loan losses | (47,921) | (48,693) |
Loans, net of allowance for loan losses | 4,342,854 | 4,351,539 |
Premises and equipment, net | 127,124 | 126,771 |
Other real estate owned | 4,018 | 3,526 |
Intangible assets, net | 12,768 | 13,330 |
Goodwill | 54,042 | 54,042 |
Accrued interest receivable and other assets | 139,615 | 139,432 |
Total assets | 7,189,637 | 7,018,952 |
Deposits: | ||
Noninterest-bearing | 2,652,691 | 2,526,842 |
Interest-bearing | 3,741,936 | 3,721,215 |
Total deposits | 6,394,627 | 6,248,057 |
Short-term borrowings | 800 | 500 |
Accrued interest payable and other liabilities | 32,378 | 27,342 |
Junior subordinated debentures | 31,959 | 31,959 |
Total liabilities | 6,459,764 | 6,307,858 |
Stockholders' equity: | ||
Common stock, $1.00 par, 20,000,000 shares authorized; shares issued and outstanding: 15,891,276 and 15,810,935, respectively | 15,891 | 15,811 |
Capital surplus | 120,435 | 117,541 |
Retained earnings | 593,631 | 577,648 |
Accumulated other comprehensive (loss) income, net of income tax of $54 and $(59), respectively | (84) | 94 |
Total stockholders' equity | 729,873 | 711,094 |
Total liabilities and stockholders' equity | 7,189,637 | 7,018,952 |
Senior Preferred Stock [Member] | ||
Stockholders' equity: | ||
Preferred stock, value | ||
Cumulative Preferred Stock [Member] | ||
Stockholders' equity: | ||
Preferred stock, value |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 |
Securities, fair value | $ 463,285 | $ 469,871 |
Common stock, par value | $ 1 | $ 1 |
Common stock, shares authorized | 20,000,000 | 20,000,000 |
Common stock, shares issued | 15,891,276 | 15,810,935 |
Common stock, shares outstanding | 15,891,276 | 15,810,935 |
Accumulated other comprehensive income, tax | $ (59) | |
Accumulated other comprehensive (loss), tax | $ 54 | |
Senior Preferred Stock [Member] | ||
Preferred stock, par value | $ 1 | $ 1 |
Preferred stock, shares authorized | 10,000,000 | 10,000,000 |
Preferred stock, shares issued | 0 | 0 |
Cumulative Preferred Stock [Member] | ||
Preferred stock, par value | $ 5 | $ 5 |
Preferred stock, shares authorized | 900,000 | 900,000 |
Preferred stock, shares issued | 0 | 0 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
INTEREST INCOME | ||
Loans, including fees | $ 53,635 | $ 50,195 |
Securities: | ||
Taxable | 1,761 | 1,327 |
Tax-exempt | 187 | 255 |
Interest-bearing deposits with banks | 3,440 | 1,802 |
Total interest income | 59,023 | 53,579 |
INTEREST EXPENSE | ||
Deposits | 3,725 | 3,080 |
Short-term borrowings | 3 | 1 |
Junior subordinated debentures | 527 | 522 |
Total interest expense | 4,255 | 3,603 |
Net interest income | 54,768 | 49,976 |
Provision for loan losses | 72 | 4,103 |
Net interest income after provision for loan losses | 54,696 | 45,873 |
NONINTEREST INCOME | ||
Trust revenue | 2,952 | 2,465 |
Service charges on deposits | 15,778 | 14,710 |
Securities transactions (includes accumulated other comprehensive income reclassifications of $0 and $100, respectively) | 100 | |
Income from sales of loans | 632 | 562 |
Insurance commissions | 4,563 | 4,135 |
Cash management | 2,754 | 2,318 |
(Loss) gain on sale of other assets | (24) | 4 |
Other | 1,430 | 1,323 |
Total noninterest income | 28,085 | 25,617 |
NONINTEREST EXPENSE | ||
Salaries and employee benefits | 30,654 | 29,357 |
Occupancy, net | 2,974 | 2,827 |
Depreciation | 2,420 | 2,530 |
Amortization of intangible assets | 547 | 581 |
Data processing services | 1,195 | 1,215 |
Net expense (income) from other real estate owned | 50 | (1,141) |
Marketing and business promotion | 2,215 | 1,855 |
Deposit insurance | 588 | 839 |
Other | 8,945 | 8,228 |
Total noninterest expense | 49,588 | 46,291 |
Income before taxes | 33,193 | 25,199 |
Income tax expense | 11,143 | 8,620 |
Net income | $ 22,050 | $ 16,579 |
NET INCOME PER COMMON SHARE | ||
Basic | $ 1.39 | $ 1.07 |
Diluted | $ 1.36 | $ 1.05 |
OTHER COMPREHENSIVE INCOME | ||
Unrealized (losses)/gains on securities, net of tax of $113 and $(374), respectively | $ (178) | $ 591 |
Reclassification adjustment for gains included in net income, net of tax of $0 and $39, respectively | (61) | |
Other comprehensive (losses)/gains, net of tax of $113 and $(335), respectively | (178) | 530 |
Comprehensive income | $ 21,872 | $ 17,109 |
Consolidated Statements of Com5
Consolidated Statements of Comprehensive Income (Unaudited) (Parenthetical) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Income Statement [Abstract] | ||
Securities transactions accumulated other comprehensive income reclassifications | $ 0 | $ 100 |
Unrealized (losses)/ gains on securities, tax | 113 | (374) |
Reclassification adjustment for gains included in net income, tax | 0 | 39 |
Other comprehensive (losses)/ gains, tax | $ 113 | $ (335) |
Consolidated Statements of Stoc
Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($) $ in Thousands | Total | COMMON STOCK [Member] | CAPITAL SURPLUS [Member] | RETAINED EARNINGS [Member] | ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) [Member] |
Balance at beginning of period at Dec. 31, 2015 | $ 15,597 | $ 102,865 | $ 535,521 | $ 1,527 | |
Shares issued, Value | 31 | 871 | |||
Shares acquired and canceled, Value | (100) | (5,423) | |||
Tax effect of stock options | (209) | ||||
Stock-based compensation arrangements | 451 | ||||
Net income | $ 16,579 | 16,579 | |||
Dividends on common stock | (5,579) | ||||
Net change | 530 | 530 | |||
Balance at end of period at Mar. 31, 2016 | 662,661 | 15,528 | 103,978 | 541,098 | 2,057 |
Balance at beginning of period at Dec. 31, 2016 | 711,094 | 15,811 | 117,541 | 577,648 | 94 |
Shares issued, Value | 80 | 2,672 | |||
Stock-based compensation arrangements | 222 | ||||
Net income | 22,050 | 22,050 | |||
Dividends on common stock | (6,067) | ||||
Net change | (178) | (178) | |||
Balance at end of period at Mar. 31, 2017 | $ 729,873 | $ 15,891 | $ 120,435 | $ 593,631 | $ (84) |
Consolidated Statements of Sto7
Consolidated Statements of Stockholders' Equity (Unaudited) (Parenthetical) - $ / shares | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
RETAINED EARNINGS [Member] | ||
Dividend on common stock | $ 0.38 | $ 0.36 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flow (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
CASH FLOWS FROM OPERATING ACTIVITIES | ||
Net income | $ 22,050 | $ 16,579 |
Adjustments to reconcile to net cash provided by operating activities: | ||
Provision for loan losses | 72 | 4,103 |
Depreciation and amortization | 2,967 | 3,111 |
Net amortization of securities premiums and discounts | (47) | 148 |
Realized securities gains | (100) | |
Gain on sales of loans | (632) | (562) |
Cash receipts from the sale of loans originated for sale | 43,005 | 40,271 |
Cash disbursements for loans originated for sale | (40,826) | (33,610) |
Deferred income tax benefit | (485) | (829) |
Loss/(gain) on other assets | 35 | (1,222) |
Decrease/(increase) in interest receivable | 598 | (176) |
Increase in interest payable | 22 | 13 |
Amortization of stock-based compensation arrangements | 222 | 451 |
Excess tax benefit from stock-based compensation arrangements | (376) | |
Other, net | 5,310 | 300 |
Net cash provided by operating activities | 31,915 | 28,477 |
INVESTING ACTIVITIES | ||
Net decrease in federal funds sold | 500 | |
Purchases of available for sale securities | (20,511) | |
Proceeds from maturities, calls and paydowns of held for investment securities | 361 | 410 |
Proceeds from maturities, calls and paydowns of available for sale securities | 26,489 | 55,071 |
Proceeds from sales of available for sale securities | 299 | |
Net change in loans | 7,366 | (45,010) |
Purchases of premises, equipment and computer software | (3,369) | (2,939) |
Proceeds from the sale of other real estate owned and other assets | 1,186 | 5,971 |
Net cash provided by investing activities | 12,022 | 13,802 |
FINANCING ACTIVITIES | ||
Net change in deposits | 146,570 | 37,514 |
Net increase in short-term borrowings | 300 | 800 |
Issuance of common stock, net | 2,752 | 693 |
Common stock acquired | (5,523) | |
Cash dividends paid | (6,008) | (5,615) |
Net cash provided by financing activities | 143,614 | 27,869 |
Net increase in cash, due from banks and interest-bearing deposits | 187,551 | 70,148 |
Cash, due from banks and interest-bearing deposits at the beginning of the period | 1,850,461 | 1,598,177 |
Cash, due from banks and interest-bearing deposits at the end of the period | 2,038,012 | 1,668,325 |
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION: | ||
Cash paid during the period for interest | 4,235 | 3,591 |
Cash paid during the period for income taxes | 1,100 | 1,050 |
Noncash investing and financing activities: | ||
Unpaid common stock dividends declared | $ 6,028 | $ 5,579 |
Description of Business and Sum
Description of Business and Summary of Significant Accounting Policies | 3 Months Ended |
Mar. 31, 2017 | |
Accounting Policies [Abstract] | |
Description of Business and Summary of Significant Accounting Policies | (1) DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The accounting and reporting policies of BancFirst Corporation and its subsidiaries (the “Company”) conform to accounting principles generally accepted in the United State of America (U.S. GAAP) and general practice within the banking industry. A summary of significant accounting policies can be found in Note (1) to the Company’s Annual Report on Form 10-K for the year ended December 31, 2016. Basis of Presentation The accompanying unaudited interim consolidated financial statements include the accounts of BancFirst Corporation, Council Oak Partners, LLC, BancFirst Insurance Services, Inc. and BancFirst and its subsidiaries. The principal operating subsidiaries of BancFirst are Council Oak Investment Corporation, Council Oak Real Estate, Inc. and BancFirst Agency, Inc. All significant intercompany accounts and transactions have been eliminated. Assets held in a fiduciary or agency capacity are not assets of the Company and, accordingly, are not included in the unaudited interim consolidated financial statements. The accompanying unaudited interim consolidated financial statements and notes are presented in accordance with the instructions for Form 10-Q. The information contained in the financial statements and footnotes included in BancFirst Corporation’s Annual Report on Form 10-K for the year ended December 31, 2016, should be referred to in connection with these unaudited interim consolidated financial statements. Operating results for the interim periods disclosed herein are not necessarily indicative of the results that may be expected for a full year or any future period. The unaudited interim consolidated financial statements contained herein reflect all adjustments which are, in the opinion of management, necessary to provide a fair statement of the financial position and results of operations of the Company for the interim periods presented. All such adjustments are of a normal and recurring nature. There have been no significant changes in the accounting policies of the Company since December 31, 2016, the date of the most recent annual report. Use of Estimates in the Preparation of Financial Statements The preparation of financial statements in conformity with accounting principles generally accepted in the United States inherently involves the use of estimates and assumptions that affect the amounts reported in the financial statements and the related disclosures. These estimates relate principally to the determination of the allowance for loan losses, income taxes, the fair value of financial instruments and the valuation of intangibles. Such estimates and assumptions may change over time and actual amounts realized may differ from those reported. Recent Accounting Pronouncements Standards Adopted During Current Period: In March 2017, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2017-08, “Receivables – Nonrefundable Fees and Other Costs (Topic 310-20): Premium Amortization on Purchased Callable Debt Securities.” ASU 2017-08 shortens the amortization period for certain callable debt securities held at a premium. The Company opted for early adoption of ASU 2017-08, as was permitted, on January 1, 2017. ASU 2017-08 did not have a significant impact on the Company’s financial statements and no prior periods were adjusted. In October 2016, the FASB issued ASU No. 2016-17, “Consolidation (Topic 810): Interests Held Through Related Parties That Are Under Common Control.” ASU 2016-17 updates ASU No. 2015-02 to amend the consolidation guidance on how a reporting entity that is the single decision maker of a variable interest entity (“VIE”) should treat indirect interests in the entity held through related parties that are under common control with the reporting entity when determining whether it is the primary beneficiary of that VIE. ASU 2016-17 was adopted on January 1, 2017 and did not have a significant impact on the Company’s financial statements and no prior periods were adjusted. In March 2016, the FASB issued ASU No. 2016-09, “Compensation - Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting.” Under ASU 2016-09 all excess tax benefits and tax deficiencies related to share-based payment awards should be recognized as income tax expense or benefit in the income statement during the period in which they occur. Previously, such amounts were recorded in the pool of excess tax benefits included in additional paid-in capital, if such pool was available. Because excess tax benefits are no longer recognized in additional paid-in capital, the assumed proceeds from applying the treasury stock method when computing earnings per share should exclude the amount of excess tax benefits that would have previously been recognized in additional paid-in capital. Additionally, excess tax benefits should be classified along with other income tax cash flows as an operating activity rather than a financing activity, as was previously the case. ASU 2016-09 also allows entities to make an entity-wide accounting policy election to account for forfeitures when they occur, which the Company has elected to do. ASU 2016-09 changes the threshold to qualify for equity classification (rather than as a liability) to permit withholding up to the maximum statutory tax rates (rather than the minimum as was previously the case) in the applicable jurisdictions. ASU 2016-09 was adopted on January 1, 2017 and did not have a significant impact on the Company’s financial statements. In addition, ASU 2016-09 was applied prospectively and no prior periods were adjusted. The excess tax benefit for share-based payment awards that vested or were exercised during the three months ended March 31, 2017 was approximately $376,000. In August 2014, the FASB issued ASU No. 2014-15, “Presentation of Financial Statements – Going Concern (Topic 205-40).” ASU 2014-15 provides guidance on management’s responsibility in evaluating whether there is substantial doubt about the Company’s ability to continue as a going concern and related footnote disclosures. For each reporting period, management will be required to evaluate whether there are conditions or events that raise substantial doubt about the Company’s ability to continue as a going concern within one year from the date the financial statements are issued. ASU 2014-15 was adopted on January 1, 2017. Adoption of ASU 2014-15 did not have a significant effect on the Company’s financial statements. Standards Not Yet Adopted: In January 2017, the FASB issued ASU No. 2017-04, “Intangibles – Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment.” ASU 2017-04 removes the second step of goodwill testing. ASU 2017-04 will be effective on January 1, 2020 and is not expected to have a significant impact on the Company’s financial statements. In January 2017, the FASB issued ASU No. 2017-01, “Business Combinations (Topic 805): Clarifying the Definition of a Business.” ASU 2017-01 clarifies the definition of a business with the objective of adding guidance to assist entities with evaluating whether transactions should be accounted for as acquisitions (or disposals) of a business. ASU 2017-01 will be effective on January 1, 2018 and is not expected to have a significant impact on the Company’s financial statements. In October 2016, the FASB issued ASU No. 2016-16, “Income Taxes (Topic 740): Intra-Entity Transfers of Assets Other Than Inventory.” ASU 2016-16 provides guidance stating that an entity should recognize the income tax consequences of an intra-entity transfer of an asset other than inventory when the transfer occurs. ASU 2016-16 will be effective on January 1, 2018 and is not expected to have a significant impact on the Company’s financial statements. In August 2016, the FASB issued ASU No. 2016-15, “Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments.” ASU 2016-15 is intended to reduce the diversity in practice around how certain transactions are classified within the statement of cash flows. ASU 2016-15 will be effective on January 1, 2018. Early adoption is permitted with retrospective applications. The Company is currently evaluating the potential impact of ASU 2016-15 on its financial statements. In June 2016, the FASB issued ASU No. 2016-13, “Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments.” ASU 2016-13 requires a financial asset measured at amortized cost basis to be presented at the net amount expected to be collected. The measurement of expected credit losses is based on relevant information about past events, including historical experience, current conditions, and reasonable and supportable forecasts that affect the collectability of the reported amount. ASU 2016-13 requires enhanced disclosures related to the significant estimates and judgements used in estimating credit losses, as well as the credit quality and underwriting standards of an organization’s portfolio. In addition, ASU 2016-13 amends the accounting for credit losses on available-for-sale debt securities and purchased financial assets with credit deterioration. ASU 2016-13 will be effective on January 1, 2020. The Company is currently evaluating the potential impact of ASU 2016-13 on its financial statements. In February 2016, the FASB issued ASU No. 2016-02, “Leases - (Topic 842).” ASU 2016-02 requires that lessees recognize on the balance sheet the assets and liabilities for the rights and obligations created by leases. The amendments are effective for annual periods, and interim reporting periods within those annual periods, beginning after December 15, 2018. Early adoption is permitted. Adoption of ASU 2016-02 is not expected to have a significant effect on the Company’s financial statements. In January 2016, the FASB issued ASU No. 2016-01, “Financial Instruments - Overall (Subtopic 825-10).” ASU 2016-01 require all equity investments (except those accounted for under the equity method of accounting or those that result in consolidation of the investee) to be measured at fair value with changes in the fair value recognized through net income. In addition, the amendment will require an entity to present separately in other comprehensive income the portion of the total change in the fair value of a liability resulting from a change in the instrument-specific credit risk when the entity has elected to measure the liability at fair value in accordance with the fair value option for financial instruments. The amendments are effective for annual periods, and interim reporting periods within those annual periods, beginning after December 15, 2017. Early adoption is not permitted. Adoption of ASU 2016-01 is not expected to have a significant effect on the Company’s financial statements. In January of 2014, the FASB issued ASU No. 2014-09, “Revenue from Contracts with Customer (Topic 606).” ASU 2014-09 implements a comprehensive new revenue recognition standard that will supersede substantially all existing revenue recognition guidance. The new standard’s core principle is that a company will recognize revenue when it transfers promised goods or services to customers in a manner that reflects the consideration to which the company expects to be entitled in exchange for those goods or services. The guidance does not apply to revenue associated with financial instruments, including loans and securities that are accounted for under other GAAP, which comprises a significant portion of the Company’s revenue stream. In August 2015, the FASB issued ASU No. 2015-14, “Revenue from Contracts with Customers (Topic 606).” ASU 2015-14 is an amendment to defer the effective date of ASU N. 2014-09. The amendments are effective for annual periods, and interim reporting periods within those annual periods, beginning after December 15, 2017. Adoption of ASU 2014-09 may require the Company to amend how it recognizes certain recurring revenue streams related to trust fees, which are recorded in non-interest expense; however, the Company does not expect the adoption of ASU 2014-09 to have a significant impact on the Company’s financial statements. |
Securities
Securities | 3 Months Ended |
Mar. 31, 2017 | |
Investments Debt And Equity Securities [Abstract] | |
Securities | ( 2 ) SECURITIES The following table summarizes securities held for investment and securities available for sale: March 31, 2017 December 31, 2016 (Dollars in thousands) Held for investment, at cost (fair value: $4,038 and $4,403, respectively) $ 4,003 $ 4,365 Available for sale, at fair value 459,247 465,468 Total $ 463,250 $ 469,833 The following table summarizes the amortized cost and estimated fair values of securities held for investment: Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value March 31, 2017 (Dollars in thousands) Mortgage backed securities (1) $ 233 $ 15 $ — $ 248 States and political subdivisions 3,270 22 (2 ) 3,290 Other securities 500 — — 500 Total $ 4,003 $ 37 $ (2 ) $ 4,038 December 31, 2016 Mortgage backed securities (1) $ 252 $ 17 $ — $ 269 States and political subdivisions 3,613 25 (4 ) 3,634 Other securities 500 — — 500 Total $ 4,365 $ 42 $ (4 ) $ 4,403 The following table summarizes the amortized cost and estimated fair values of securities available for sale: Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value March 31, 2017 (Dollars in thousands) U.S. treasuries $ 289,248 $ 723 $ (538 ) $ 289,433 U.S. federal agencies 105,166 307 (415 ) 105,058 Mortgage backed securities (1) 19,369 271 (567 ) 19,073 States and political subdivisions 38,856 853 (71 ) 39,638 Other securities (2) 6,746 125 (826 ) 6,045 Total $ 459,385 $ 2,279 $ (2,417 ) $ 459,247 December 31, 2016 U.S. treasuries $ 268,763 $ 700 $ (920 ) $ 268,543 U.S. federal agencies 129,674 373 (405 ) 129,642 Mortgage backed securities (1) 19,949 290 (567 ) 19,672 States and political subdivisions 40,335 836 (129 ) 41,042 Other securities (2) 6,594 125 (150 ) 6,569 Total $ 465,315 $ 2,324 $ (2,171 ) $ 465,468 (1) Primarily consists of FHLMC, FNMA, GNMA and mortgage backed securities through U.S. agencies. (2) Primarily consists of equity securities. The maturities of securities held for investment and available for sale are summarized in the following table using contractual maturities. Actual maturities may differ from contractual maturities due to obligations that are called or prepaid. For purposes of the maturity table, mortgage-backed securities, which are not due at a single maturity date, have been presented at their contractual maturity. March 31, 2017 December 31, 2016 Amortized Cost Estimated Fair Value Amortized Cost Estimated Fair Value (Dollars in thousands) Held for Investment Contractual maturity of debt securities: Within one year $ 1,563 $ 1,573 $ 1,561 $ 1,568 After one year but within five years 1,751 1,762 1,937 1,951 After five years but within ten years 673 687 707 723 After ten years 16 16 160 161 Total $ 4,003 $ 4,038 $ 4,365 $ 4,403 Available for Sale Contractual maturity of debt securities: Within one year $ 75,206 $ 75,378 $ 66,542 $ 66,662 After one year but within five years 308,182 308,229 320,150 319,839 After five years but within ten years 6,318 6,666 5,830 6,152 After ten years 62,933 62,929 66,199 66,246 Total debt securities 452,639 453,202 458,721 458,899 Equity securities 6,746 6,045 6,594 6,569 Total $ 459,385 $ 459,247 $ 465,315 $ 465,468 The following table is a summary of the Company’s book value of securities that were pledged as collateral for public funds on deposit, repurchase agreements and for other purposes as required or permitted by law: March 31, 2017 December 31, 2016 (Dollars Book value of pledged securities $ 432,232 $ 439,692 |
Loans and Allowance for Loan Lo
Loans and Allowance for Loan Losses | 3 Months Ended |
Mar. 31, 2017 | |
Receivables [Abstract] | |
Loans and Allowance for Loan Losses | (3) LOANS AND ALLOWANCE FOR LOAN LOSSES The following is a schedule of loans outstanding by category: March 31, 2017 December 31, 2016 Amount Percent Amount Percent (Dollars in thousands) Commercial and financial: Commercial and industrial $ 834,561 19.01 % $ 828,260 18.82 % Oil & gas production and equipment 84,976 1.93 84,228 1.91 Agriculture 139,542 3.18 144,751 3.29 State and political subdivisions: Taxable 32,597 0.74 33,793 0.77 Tax-exempt 48,313 1.10 47,283 1.07 Real estate: Construction 417,148 9.50 420,884 9.57 Farmland 201,450 4.59 197,872 4.50 One to four family residences 843,731 19.22 846,360 19.24 Multifamily residential properties 48,302 1.10 57,806 1.31 Commercial 1,433,707 32.65 1,426,643 32.42 Consumer 272,637 6.21 279,704 6.36 Other (not classified above) 33,811 0.77 32,648 0.74 Total loans $ 4,390,775 100.00 % $ 4,400,232 100.00 % The Company’s commercial and industrial loan category includes a small percentage of loans to companies that provide ancillary services to the oil and gas industry, such as transportation, preparation contractors and equipment manufacturers. The balance of these loans was approximately $58 million at March 31, 2017 and approximately $56 million at December 31, 2016. The Company’s loans are mostly to customers within Oklahoma and over 65% of the loans are secured by real estate. Credit risk on loans is managed through limits on amounts loaned to individual and related borrowers, underwriting standards and loan monitoring procedures. The amounts and types of collateral obtained, if any, to secure loans are based upon the Company’s underwriting standards and management’s credit evaluation. Collateral varies, but may include real estate, equipment, accounts receivable, inventory, livestock and securities. The Company’s interest in collateral is secured through filing mortgages and liens, and in some cases, by possession of the collateral. Accounting policies related to appraisals, nonaccruals and charge-offs are disclosed in Note (1) to the Company’s Annual Report on Form 10-K for the year ended December 31, 2016. Nonperforming and Restructured Assets The following is a summary of nonperforming and restructured assets: March 31, December 31, 2017 2016 (Dollars in thousands) Past due 90 days or more and still accruing $ 2,024 $ 1,962 Nonaccrual 23,694 31,798 Restructured 2,203 1,713 Total nonperforming and restructured loans 27,921 35,473 Other real estate owned and repossessed assets 4,404 3,866 Total nonperforming and restructured assets $ 32,325 $ 39,339 Nonaccrual loans, accruing loans past due 90 days or more, and restructured loans are shown in the table above. Had nonaccrual loans performed in accordance with their original contractual terms, the Company would have recognized additional interest income of approximately $499,000 for the three months ended March 31, 2017 and approximately $513,000 for the three months ended March 31, 2016. The Company charges interest on principal balances outstanding on restructured loans during deferral periods. The current and future financial effects of the recorded balance of loans considered to be restructured were not considered to be material. Loans are segregated into classes based upon the nature of the collateral and the borrower. These classes are used to estimate the credit risk component in the allowance for loan losses. The following table is a summary of amounts included in nonaccrual loans, segregated by class of loans. Residential real estate refers to one-to-four family real estate. March 31, 2017 December 31, 2016 (Dollars in thousands) Real estate: Non-residential real estate owner occupied $ 599 $ 713 Non-residential real estate other 2,087 5,688 Residential real estate permanent mortgage 1,397 1,116 Residential real estate all other 4,726 5,089 Commercial and financial: Non-consumer non-real estate 3,643 4,464 Consumer non-real estate 286 265 Other loans 5,033 8,370 Acquired loans 5,923 6,093 Total $ 23,694 $ 31,798 The following table presents an age analysis of past due loans, segregated by class of loans: Age Analysis of Past Due Loans 30-59 Days Past Due 60-89 Days Past Due 90 Days and Greater Total Past Due Loans Current Loans Total Loans Accruing Loans 90 Days or More Past Due (Dollars in thousands) As of March 31, 2017 Real estate: Non-residential real estate owner occupied $ 1,183 $ 526 $ 1,034 $ 2,743 $ 573,970 $ 576,713 $ 983 Non-residential real estate other 1,985 29 250 2,264 1,125,063 1,127,327 — Residential real estate permanent mortgage 1,900 756 1,085 3,741 319,986 323,727 232 Residential real estate all other 5,036 337 982 6,355 732,679 739,034 252 Commercial and financial: Non-consumer non-real estate 3,837 1,722 272 5,831 1,053,489 1,059,320 108 Consumer non-real estate 1,954 595 502 3,051 273,007 276,058 384 Other loans 5,143 826 4,760 10,729 131,804 142,533 51 Acquired loans 1,104 20 2,537 3,661 142,402 146,063 14 Total $ 22,142 $ 4,811 $ 11,422 $ 38,375 $ 4,352,400 $ 4,390,775 $ 2,024 As of December 31, 2016 Real estate: Non-residential real estate owner occupied $ 2,255 $ 96 $ 150 $ 2,501 $ 569,130 $ 571,631 $ — Non-residential real estate other 611 16 418 1,045 1,122,351 1,123,396 — Residential real estate permanent mortgage 2,742 649 1,273 4,664 320,749 325,413 513 Residential real estate all other 2,559 531 1,416 4,506 743,723 748,229 369 Commercial and financial: Non-consumer non-real estate 1,269 1,628 741 3,638 1,047,547 1,051,185 608 Consumer non-real estate 2,046 760 419 3,225 280,652 283,877 274 Other loans 5,345 958 7,775 14,078 127,404 141,482 45 Acquired loans 825 310 408 1,543 153,476 155,019 153 Total $ 17,652 $ 4,948 $ 12,600 $ 35,200 $ 4,365,032 $ 4,400,232 $ 1,962 Impaired Loans Loans are considered impaired when, based on current information and events, it is probable the Company will be unable to collect the full amount of scheduled principal and interest payments in accordance with the original contractual terms of the loan agreement. If a loan is impaired, a specific valuation allowance may be allocated if necessary so that the loan is reported, net of allowance for loss, at the present value of future cash flows using the loan’s existing rate, or the fair value of collateral if repayment is expected solely from the collateral. The following table presents impaired loans, segregated by class of loans. During the period ended March 31, 2017, $2.3 million of interest income was recognized on impaired loans subsequent to their classification as impaired. During previous periods no material amount of interest income was recognized on impaired loans subsequent to their classification as impaired. Impaired Loans Unpaid Principal Balance Recorded Investment with Allowance Related Allowance Average Recorded Investment (Dollars in thousands) As of March 31, 2017 Real estate: Non-residential real estate owner occupied $ 1,766 $ 1,672 $ 73 $ 1,026 Non-residential real estate other 2,175 2,087 448 4,809 Residential real estate permanent mortgage 1,884 1,682 129 1,808 Residential real estate all other 5,364 5,123 1,513 5,388 Commercial and financial: Non-consumer non-real estate 11,474 5,461 1,486 5,882 Consumer non-real estate 814 777 141 776 Other loans 6,606 5,084 673 5,276 Acquired loans 8,196 6,186 — 6,472 Total $ 38,279 $ 28,072 $ 4,463 $ 31,437 As of December 31, 2016 Real estate: Non-residential real estate owner occupied $ 894 $ 806 $ 101 $ 825 Non-residential real estate other 7,742 5,688 574 5,854 Residential real estate permanent mortgage 1,878 1,683 124 1,612 Residential real estate all other 5,871 5,614 1,538 5,445 Commercial and financial: Non-consumer non-real estate 12,015 6,272 1,457 6,478 Consumer non-real estate 686 650 133 788 Other loans 9,799 8,415 1,870 8,062 Acquired loans 8,780 6,581 — 6,041 Total $ 47,665 $ 35,709 $ 5,797 $ 35,105 Credit Risk Monitoring and Loan Grading The Company considers various factors to monitor the credit risk in the loan portfolio including volume and severity of loan delinquencies, nonaccrual loans, internal grading of loans, historical loan loss experience and economic conditions. An internal risk grading system is used to indicate the credit risk of loans. The loan grades used by the Company are for internal risk identification purposes and do not directly correlate to regulatory classification categories or any financial reporting definitions. The general characteristics of the risk grades are disclosed in Note (5) to the Company’s Annual Report on Form 10-K for the year ended December 31, 2016. The following table presents internal loan grading by class of loans: Internal Loan Grading Grade 1 2 3 4 5 Total (Dollars in thousands) As of March 31, 2017 Real estate: Non-residential real estate owner occupied $ 469,833 $ 91,517 $ 14,764 $ 599 $ — $ 576,713 Non-residential real estate other 931,160 179,042 15,038 2,087 — 1,127,327 Residential real estate permanent mortgage 281,991 33,986 6,121 1,629 — 323,727 Residential real estate all other 601,273 121,042 11,756 4,963 — 739,034 Commercial and financial: Non-consumer non-real estate 830,209 203,922 21,216 3,973 — 1,059,320 Consumer non-real estate 255,874 17,116 2,367 701 — 276,058 Other loans 135,396 5,678 1,365 94 — 142,533 Acquired loans 87,373 39,256 13,310 6,124 — 146,063 Total $ 3,593,109 $ 691,559 $ 85,937 $ 20,170 $ — $ 4,390,775 As of December 31, 2016 Real estate: Non-residential real estate owner occupied $ 464,504 $ 89,978 $ 16,220 $ 929 $ — $ 571,631 Non-residential real estate other 933,743 169,561 14,404 5,688 — 1,123,396 Residential real estate permanent mortgage 284,893 32,889 5,987 1,644 — 325,413 Residential real estate all other 614,338 119,018 9,382 5,491 — 748,229 Commercial and financial: Non-consumer non-real estate 856,318 170,865 19,101 4,901 — 1,051,185 Consumer non-real estate 263,442 17,154 2,640 641 — 283,877 Other loans 132,254 5,376 1,514 2,338 — 141,482 Acquired loans 92,946 42,668 12,888 6,517 — 155,019 Total $ 3,642,438 $ 647,509 $ 82,136 $ 28,149 $ — $ 4,400,232 Allowance for Loan Losses Methodology The allowance for loan losses (“ALL”) methodology is disclosed in Note (5) to the Company’s Annual Report on Form 10-K for the year ended December 31, 2016. The following table details activity in the ALL by class of loans for the period presented. Allocation of a portion of the allowance to one category of loans does not preclude its availability to absorb losses in other categories. ALL Balance at beginning of period Charge- offs Recoveries Net charge-offs Provisions charged to operations Balance at end of period (Dollars in thousands) Three Months Ended March 31, 2017 Real estate: Non-residential real estate owner occupied $ 5,602 $ (32 ) $ 1 $ (31 ) $ (9 ) $ 5,562 Non-residential real estate other 10,793 (1 ) 1 — (5 ) 10,788 Residential real estate permanent mortgage 3,129 (120 ) 1 (119 ) 120 3,130 Residential real estate all other 8,622 (57 ) 11 (46 ) 83 8,659 Commercial and financial: Non-consumer non-real estate 12,421 (206 ) 918 712 (323 ) 12,810 Consumer non-real estate 2,804 (234 ) 51 (183 ) 104 2,725 Other loans 4,045 (1,218 ) 4 (1,214 ) 127 2,958 Acquired loans 1,277 (13 ) 50 37 (25 ) 1,289 Total $ 48,693 $ (1,881 ) $ 1,037 $ (844 ) $ 72 $ 47,921 ALL Balance at beginning of period Charge- offs Recoveries Net charge-offs Provisions charged to operations Balance at end of period (Dollars in thousands) Three Months Ended March 31, 2016 Real estate: Non-residential real estate owner occupied $ 4,661 $ (1 ) $ — $ (1 ) $ 172 $ 4,832 Non-residential real estate other 9,921 (1 ) 1 — 290 10,211 Residential real estate permanent mortgage 3,148 (50 ) 17 (33 ) 49 3,164 Residential real estate all other 6,725 (67 ) 4 (63 ) 1,327 7,989 Commercial and financial: Non-consumer non-real estate 11,754 (803 ) 11 (792 ) 1,851 12,813 Consumer non-real estate 2,642 (221 ) 38 (183 ) 94 2,553 Other loans 2,648 (133 ) 6 (127 ) 269 2,790 Acquired loans 167 (4 ) 5 1 51 219 Total $ 41,666 $ (1,280 ) $ 82 $ (1,198 ) $ 4,103 $ 44,571 The following table details the amount of ALL by class of loans for the period presented, detailed on the basis of the impairment methodology used by the Company. ALL March 31, 2017 December 31, 2016 Individually evaluated for impairment Collectively evaluated for impairment Individually evaluated for impairment Collectively evaluated for impairment (Dollars in thousands) Real estate: Non-residential real estate owner occupied. $ 614 $ 4,948 $ 716 $ 4,886 Non-residential real estate other 1,011 9,777 1,119 9,674 Residential real estate permanent mortgage 433 2,697 422 2,707 Residential real estate all other 2,275 6,384 2,160 6,462 Commercial and financial: Non-consumer non-real estate 3,517 9,293 3,317 9,104 Consumer non-real estate 459 2,266 478 2,326 Other loans 658 2,300 1,812 2,233 Acquired loans 10 1,279 495 782 Total $ 8,977 $ 38,944 $ 10,519 $ 38,174 The following table details the loans outstanding by class of loans for the period presented, on the basis of the impairment methodology used by the Company. Loans March 31, 2017 December 31, 2016 Individually evaluated for impairment Collectively evaluated for impairment Loans acquired with deteriorated credit quality Individually evaluated for impairment Collectively evaluated for impairment Loans acquired with deteriorated credit quality (Dollars in thousands) Real estate: Non-residential real estate owner occupied $ 15,363 $ 561,350 $ — $ 17,149 $ 554,482 $ — Non-residential real estate other 17,125 1,110,202 — 20,092 1,103,304 — Residential real estate permanent mortgage 7,750 315,977 — 7,631 317,782 — Residential real estate all other 16,719 722,315 — 14,873 733,356 — Commercial and financial: Non-consumer non-real estate 25,189 1,034,131 — 24,002 1,027,183 — Consumer non-real estate 3,068 272,990 — 3,203 280,674 — Other loans 2,338 140,195 — 2,254 139,228 — Acquired loans 13,651 126,630 5,782 13,459 135,616 5,944 Total $ 101,203 $ 4,283,790 $ 5,782 $ 102,663 $ 4,291,625 $ 5,944 Transfers from Loans Transfers from loans to other real estate owned and repossessed assets are non-cash transactions, and are not included in the statements of cash flow. Transfers from loans to other real estate owned and repossessed assets during the periods presented, are summarized as follows: Three Months Ended March 31, 2017 2016 (Dollars in thousands) Other real estate owned $ 901 $ 344 Repossessed assets 363 404 Total $ 1,264 $ 748 During the quarter ended March 31, 2016, the Company had gains on the sale of other real estate owned totaling $1.2 million that is included in net expense from other real estate owned on the consolidated statements of comprehensive income. |
Intangible Assets
Intangible Assets | 3 Months Ended |
Mar. 31, 2017 | |
Goodwill And Intangible Assets Disclosure [Abstract] | |
Intangible Assets | (4 ) INTANGIBLE ASSETS The following is a summary of intangible assets: Gross Carrying Amount Accumulated Amortization Net Carrying Amount (Dollars in thousands) As of March 31, 2017 Core deposit intangibles $ 17,447 $ (7,071 ) $ 10,376 Customer relationship intangibles 5,699 (3,506 ) 2,193 Mortgage servicing intangibles 465 (266 ) 199 Total $ 23,611 $ (10,843 ) $ 12,768 As of December 31, 2016 Core deposit intangibles $ 17,447 $ (6,611 ) $ 10,836 Customer relationship intangibles 5,699 (3,419 ) 2,280 Mortgage servicing intangibles 473 (259 ) 214 Total $ 23,619 $ (10,289 ) $ 13,330 The following is a summary of goodwill by business segment: Other Executive, Metropolitan Community Financial Operations Banks Banks Services & Support Consolidated (Dollars in thousands) Three month ended March 31, 2017 Balance at beginning and end of period $ 8,078 $ 40,050 $ 5,464 $ 450 $ 54,042 Additional information for intangible assets can be found in Note (7) to the Company’s Annual Report on Form 10-K for the year ended December 31, 2016. |
Stock-Based Compensation
Stock-Based Compensation | 3 Months Ended |
Mar. 31, 2017 | |
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | |
Stock-Based Compensation | (5) STOCK-BASED COMPENSATION The Company adopted a nonqualified incentive stock option plan (the “BancFirst ISOP”) in May 1986. The Company amended the BancFirst ISOP to increase the number of shares to be issued under the plan to 3,200,000 shares in May 2016. At March 31, 2017, 215,735 shares were available for future grants. The BancFirst ISOP will terminate on December 31, 2019. The options vest and are exercisable beginning four years from the date of grant at the rate of 25% per year for four years. Options expire at the end of fifteen years from the date of grant. Options outstanding as of March 31, 2017 will become exercisable through the year 2023. The option price must be no less than 100% of the fair value of the stock relating to such option at the date of grant. In June 1999, the Company adopted the BancFirst Corporation Non-Employee Directors’ Stock Option Plan (the “BancFirst Directors’ Stock Option Plan”). Each non-employee director is granted an option for 10,000 shares. The Company amended the BancFirst Directors’ Stock Option Plan to increase the number of shares to be issued under the plan to 260,000 shares in May 2016. At March 31, 2017, 40,000 shares were available for future grants. The options vest and are exercisable beginning one year from the date of grant at the rate of 25% per year for four years, and expire at the end of fifteen years from the date of grant. Options outstanding as of March 31, 2017 will become exercisable through the year 2020. The option price must be no less than 100% of the fair value of the stock relating to such option at the date of grant. The Company currently uses newly issued shares for stock option exercises, but reserves the right to use shares purchased under the Company’s Stock Repurchase Program (the “SRP”) in the future. The following table is a summary of the activity under both the BancFirst ISOP and the BancFirst Directors’ Stock Option Plan: Wgtd. Avg. Wgtd. Avg. Remaining Aggregate Exercise Contractual Intrinsic Options Price Term Value (Dollars in thousands, except option data) Three Months Ended March 31, 2017 Outstanding at December 31, 2016 707,450 $ 44.92 Options exercised (76,450 ) 34.14 Outstanding at March 31, 2017 631,000 46.23 9.75 Yrs $ 27,558 Exercisable at March 31, 2017 265,625 38.46 6.88 Yrs $ 13,663 The following table has additional information regarding options granted and options exercised under both the BancFirst ISOP and the BancFirst Directors’ Stock Option Plan: Three Months Ended March 31, 2017 2016 (Dollars in thousands except per share data) Weighted average grant-date fair value per share of options granted $ — $ 11.47 Total intrinsic value of options exercised 4,613 779 Cash received from options exercised 2,610 875 Tax benefit realized from options exercised 1,784 301 The fair value of each option grant is estimated on the date of grant using the Black-Scholes option-pricing model and is based on certain assumptions including risk-free rate of return, dividend yield, stock price volatility and the expected term. The fair value of each option is expensed over its vesting period. The following table is a summary of the Company’s recorded stock-based compensation expense: Three Months Ended March 31, 2017 2016 (Dollars in thousands) Stock-based compensation expense $ 222 $ 451 Tax benefit 71 174 Stock-based compensation expense, net of tax $ 151 $ 277 The Company will continue to amortize the unearned stock-based compensation expense over the remaining vesting period of approximately seven years. The following table shows the unearned stock-based compensation expense: March 31, 2017 (Dollars in thousands) Unearned stock-based compensation expense $ 2,538 The following table shows the assumptions used for computing stock-based compensation expense under the fair value method on options granted during the periods presented: Three Months Ended March 31, 2017 2016 Risk-free interest rate — 1.91 to 2.02% Dividend yield — 2.00% Stock price volatility — 20.41 to 20.64% Expected term — 10 Yrs The risk-free interest rate is determined by reference to the spot zero-coupon rate for the U.S. Treasury security with a maturity similar to the expected term of the options. The dividend yield is the expected yield for the expected term. The stock price volatility is estimated from the recent historical volatility of the Company’s stock. The expected term is estimated from the historical option exercise experience. In May 1999, the Company adopted the BancFirst Corporation Directors’ Deferred Stock Compensation Plan (the “BancFirst Deferred Stock Compensation Plan”). The Company amended the BancFirst Deferred Stock Compensation Plan to increase the number of shares to be issued under the plan to 91,110 shares in May 2014. Under the plan, directors and members of the community advisory boards of the Company and its subsidiaries may defer up to 100% of their board fees. They are credited for each deferral with a number of stock units based on the current market price of the Company’s stock, which accumulate in an account until such time as the director or community board member terminates serving as a board member. Shares of common stock of the Company are then distributed to the terminating director or community board member based upon the number of stock units accumulated in his or her account. There were 3,891 shares of common stock distributed from the BancFirst Deferred Stock Compensation Plan during the three months ended March 31, 2017. A summary of the accumulated stock units is as follows: March 31, December 31, 2017 2016 Accumulated stock units 67,230 70,022 Average price $ 42.87 $ 41.74 |
Stockholders' Equity
Stockholders' Equity | 3 Months Ended |
Mar. 31, 2017 | |
Equity [Abstract] | |
Stockholders' Equity | (6) STOCKHOLDERS’ EQUITY In November 1999, the Company adopted a Stock Repurchase Program (the “SRP”). The SRP may be used as a means to increase earnings per share and return on equity, to purchase treasury stock for the exercise of stock options or for distributions under the Deferred Stock Compensation Plan, to provide liquidity for optionees to dispose of stock from exercises of their stock options, and to provide liquidity for stockholders wishing to sell their stock. All shares repurchased under the SRP have been retired and not held as treasury stock. The timing, price and amount of stock repurchases may be determined by management within the limitations of the SRP. During the third quarter of 2016 the SRP was amended to increase the remaining shares to be repurchased to 150,000. The following table is a summary of the shares under the program: Three Months Ended March 31, 2017 2016 Number of shares repurchased — 100,000 Average price of shares repurchased $ — $ 55.23 Shares remaining to be repurchased 150,000 66,276 The Company and BancFirst are subject to risk-based capital guidelines issued by the Board of Governors of the Federal Reserve System and the Federal Deposit Insurance Corporation (“FDIC”). These guidelines are used to evaluate capital adequacy and involve both quantitative and qualitative evaluations of the Company’s and BancFirst’s assets, liabilities and certain off-balance-sheet items calculated under regulatory practices. Failure to meet the minimum capital requirements can initiate certain mandatory or discretionary actions by the regulatory agencies that could have a direct material effect on the Company’s financial statements. Management believes that as of March 31, 2017, the Company and BancFirst met all capital adequacy requirements to which they are subject. The actual and required capital amounts and ratios are shown in the following table: Required To Be Well For Capital With Capitalized Under Adequacy Capital Conservation Prompt Corrective Actual Purposes Buffer Action Provisions Amount Ratio Amount Ratio Amount Ratio Amount Ratio (Dollars in thousands) As of March 31, 2017: Total Capital (to Risk Weighted Assets)- BancFirst Corporation $ 743,955 15.72% $ 378,690 8.00% $ 437,861 9.250% N/A N/A BancFirst 668,329 14.14% 378,252 8.00% 437,354 9.250% $ 472,815 10.00% Common Equity Tier 1 Capital (to Risk Weighted Assets)- BancFirst Corporation $ 665,034 14.05% $ 213,013 4.50% $ 272,184 5.750% N/A N/A BancFirst 600,408 12.70% 212,767 4.50% 271,869 5.750% $ 307,330 6.50% Tier 1 Capital (to Risk Weighted Assets)- BancFirst Corporation $ 696,034 14.70% $ 284,018 6.00% $ 343,188 7.250% N/A N/A BancFirst 620,408 13.12% 283,689 6.00% 342,791 7.250% $ 378,252 8.00% Tier 1 Capital (to Total Assets)- BancFirst Corporation $ 696,034 9.95% $ 279,674 4.00% N/A N/A N/A N/A BancFirst 620,408 8.88% 279,412 4.00% N/A N/A $ 349,266 5.00% As of March 31, 2017, the most recent notification from the Federal Reserve Bank of Kansas City and the FDIC categorized BancFirst as “well capitalized” under the regulatory framework from prompt corrective action. The Company’s trust preferred securities have continued to be included in Tier 1 capital as the Company’s total assets do not exceed $15 billion. There are no conditions or events since the most recent notifications of BancFirst’s capital category that management believes would materially change its category under capital requirements existing as of the report date. Basel III Capital Rules Under the Basel III Capital Rules, in order to avoid limitations on capital distributions, including dividend payments and certain discretionary bonus payments to executive officers, a banking organization must hold a capital conservation buffer composed of CET1 capital above its minimum risk-based capital requirements. The implementation of the capital conservation buffer began on January 1, 2016 at the 0.625% level and will be phased in over a four-year period (increasing by that amount on each subsequent January 1, until it reaches 2.5% on January 1, 2019). Management believes that, as of March 31, 2017, the Company and BancFirst would meet all capital adequacy requirements under the Basel III Capital Rules on a fully phased-in basis as if such requirements were currently in effect. |
Net Income Per Common Share
Net Income Per Common Share | 3 Months Ended |
Mar. 31, 2017 | |
Earnings Per Share [Abstract] | |
Net Income Per Common Share | ( 7 ) NET INCOME PER COMMON SHARE Basic and diluted net income per common share based on weighted-average shares outstanding are calculated as follows: Income (Numerator) Shares (Denominator) Per Share Amount (Dollars in thousands, except per share data) Three Months Ended March 31, 2017 Basic Income available to common stockholders $ 22,050 15,864,807 $ 1.39 Dilutive effect of stock options — 373,191 Diluted Income available to common stockholders plus assumed exercises of stock options $ 22,050 16,237,998 $ 1.36 Three Months Ended March 31, 2016 Basic Income available to common stockholders $ 16,579 15,534,416 $ 1.07 Dilutive effect of stock options — 281,955 Diluted Income available to common stockholders plus assumed exercises of stock options $ 16,579 15,816,371 $ 1.05 The following table shows the number and average exercise price of options that were excluded from the computation of diluted net income per common share for each period because the options’ exercise prices were greater than the average market price of the common shares: Shares Average Exercise Three Months Ended March 31, 2017 — $ — Three Months Ended March 31, 2016 236,451 $ 58.59 |
Fair Value Measurements
Fair Value Measurements | 3 Months Ended |
Mar. 31, 2017 | |
Fair Value Disclosures [Abstract] | |
Fair Value Measurements | (8 ) FAIR VALUE MEASUREMENTS Accounting standards define fair value as the price that would be received to sell an asset or the price paid to transfer a liability in the principal or most advantageous market available to the entity in an orderly transaction between market participants on the measurement date. FASB ASC Topic 820 establishes a fair value hierarchy for valuation inputs that gives the highest priority to quoted prices in active markets for identical assets or liabilities and the lowest priority to unobservable inputs. The fair value hierarchy is as follows: • Level 1 Inputs to the valuation methodology are quoted prices (unadjusted) for identical assets or liabilities in active markets. • Level 2 Inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the asset and liability, either directly or indirectly, for substantially the full term of the financial instrument. • Level 3 Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. Level 3 assets and liabilities include financial instruments whose values are determined using pricing models, discounted cash flow methodologies, or similar techniques, as well as instruments for which the determination of fair value requires significant management judgment or estimation. This category includes certain impaired loans, repossessed assets, other real estate owned, goodwill and other intangible assets. Financial Assets and Financial Liabilities Measured at Fair Value on a Recurring Basis A description of the valuation methodologies and key inputs used to measure financial assets and financial liabilities at fair value on a recurring basis, as well as the general classification of such instruments pursuant to the valuation hierarchy, is set forth below. These valuation methodologies were applied to the following categories of the Company’s financial assets and financial liabilities. Securities Available for Sale Securities classified as available for sale are reported at fair value. U.S. Treasuries are valued using Level 1 inputs. Other securities available for sale including U.S. federal agencies, registered mortgage backed securities and state and political subdivisions are valued using prices from an independent pricing service utilizing Level 2 data. The fair value measurements consider observable data that may include dealer quotes, market spreads, cash flows, the U.S. Treasury yield curve, live trading levels, trade execution data, market consensus prepayment speeds, credit information and the bond’s terms and conditions, among other things. The Company also invests in private label mortgage backed securities and equity securities classified as available for sale for which observable information is not readily available. These securities are reported at fair value utilizing Level 3 inputs. For these securities, management determines the fair value based on replacement cost, the income approach or information provided by outside consultants or lead investors. The Company reviews the prices for Level 1 and Level 2 securities supplied by the independent pricing service for reasonableness and to ensure such prices are aligned with traditional pricing matrices. In general, the Company does not purchase investment portfolio securities that are esoteric or that have complicated structures. The Company’s portfolio primarily consists of traditional investments including U.S. Treasury obligations, federal agency mortgage pass-through securities, general obligation municipal bonds and a small amount of municipal revenue bonds. Pricing for such instruments is fairly generic and is easily obtained. For in-state bond issues that have relatively low issue sizes and liquidity, the Company utilizes the same parameters for pricing mentioned in the preceding paragraph adjusted for the specific issue. Periodically, the Company will validate prices supplied by the independent pricing service by comparison to prices obtained from third party sources. Derivatives Derivatives are reported at fair value utilizing Level 2 inputs. The Company obtains dealer and market quotations to value its oil and gas swaps and options. The Company utilizes dealer quotes and observable market data inputs to substantiate internal valuation models. Loans Held For Sale The Company originates mortgage loans to be sold. At the time of origination, the acquiring bank has already been determined and the terms of the loan, including interest rate, have already been set by the acquiring bank, allowing the Company to originate the loan at fair value. Mortgage loans are generally sold within 30 days of origination. Loans held for sale are valued using Level 2 inputs. Gains or losses recognized upon the sale of the loans are determined on a specific identification basis. The following table summarizes financial assets and financial liabilities measured at fair value on a recurring basis as of the periods presented, segregated by the level of the valuation inputs within the fair value hierarchy utilized to measure fair value: Level 1 Inputs Level 2 Inputs Level 3 Inputs Total Fair Value (Dollars in thousands) March 31, 2017 Securities available for sale: U.S. Treasury $ 289,433 $ — $ — $ 289,433 U.S. federal agencies — 105,058 — 105,058 Mortgage-backed securities — 4,464 14,609 19,073 States and political subdivisions — 39,638 — 39,638 Other securities — — 6,045 6,045 Derivative assets — 528 — 528 Derivative liabilities — 329 — 329 Loans held for sale — 7,754 — 7,754 December 31, 2016 Securities available for sale: U.S. Treasury $ 268,543 $ — $ — $ 268,543 U.S. federal agencies — 129,642 — 129,642 Mortgage-backed securities — 4,856 14,816 19,672 States and political subdivisions — 41,042 — 41,042 Other securities — — 6,569 6,569 Derivative assets — 1,569 — 1,569 Derivative liabilities — 1,306 — 1,306 Loans held for sale — 9,318 — 9,318 The changes in Level 3 assets measured at estimated fair value on a recurring basis during the periods presented were as follows: Three Months Ended March 31, Twelve Months Ended December 31, 2017 2016 (Dollars in thousands) Balance at the beginning of the year $ 21,385 $ 21,124 Purchases 157 1,096 Settlements (212 ) (191 ) Sales — (429 ) Losses included in earnings — (111 ) Total unrealized losses (676 ) (104 ) Balance at the end of the period $ 20,654 $ 21,385 The Company’s policy is to recognize transfers in and transfers out of Levels 1, 2 and 3 as of the end of the reporting period. During the three months ended March 31, 2017 and 2016, the Company did not transfer any securities between levels in the fair value hierarchy. Financial Assets and Financial Liabilities Measured at Fair Value on a Nonrecurring Basis Certain financial assets and financial liabilities are measured at fair value on a nonrecurring basis; that is, the instruments are not measured at fair value on an ongoing basis but are subject to fair value adjustments in certain circumstances (for example, when there is evidence of impairment). These financial assets and financial liabilities are reported at fair value utilizing Level 3 inputs. Impaired loans are reported at the fair value of the underlying collateral if repayment is dependent on liquidation of the collateral. In no case does the fair value of an impaired loan exceed the fair value of the underlying collateral. The impaired loans are adjusted to fair value through a specific allocation of the allowance for loan losses or a direct charge-down of the loan. Repossessed assets, upon initial recognition, are measured and adjusted to fair value through a charge-off to the allowance for possible loan losses based upon the fair value of the repossessed asset. Other real estate owned is revalued at fair value subsequent to initial recognition, with any losses recognized in net expense from other real estate owned. The following table summarizes assets measured at fair value on a nonrecurring basis. The fair value represents end of period values, which approximate fair value measurements that occurred on various measurement dates throughout the period: Total Fair Value Level 3 (Dollars in thousands) As of and for the Year-to-date Period Ended March 31, 2017 Impaired loans (less specific allowance) $ 23,609 Repossessed assets 266 Other real estate owned 776 As of and for the Year-to-date Period Ended December 31, 2016 Impaired loans (less specific allowance) $ 29,912 Repossessed assets 340 Other real estate owned 1,480 Estimated Fair Value of Financial Instruments The Company is required under current authoritative accounting guidance to disclose the estimated fair value of their financial instruments that are not recorded at fair value. For the Company, as for most financial institutions, substantially all of its assets and liabilities are considered financial instruments. A financial instrument is defined as cash, evidence of an ownership interest in an entity or a contract that creates a contractual obligation or right to deliver or receive cash or another financial instrument from a second entity. The following methods and assumptions were used to estimate the fair value of each class of financial instruments: Cash and Cash Equivalents Include: Cash and Due from Banks, Federal Funds Sold and Interest-Bearing Deposits The carrying amount of these short-term instruments is a reasonable estimate of fair value. Securities Held for Investment For securities held for investment, which are generally traded in secondary markets, fair values are based on quoted market prices or dealer quotes, if available. If a quoted market price is not available, fair value is estimated using quoted market prices for similar securities making adjustments for credit or liquidity if applicable. Loans For certain homogeneous categories of loans, such as some residential mortgages, fair values are estimated using the quoted market prices for securities backed by similar loans, adjusted for differences in loan characteristics. The fair values of other types of loans are estimated by discounting the future cash flows using the current rates at which similar loans would be made to borrowers with similar credit ratings and for the same remaining maturities. Deposits The fair values of transaction and savings accounts are the amounts payable on demand at the reporting date. The fair values of fixed-maturity certificates of deposit are estimated using the rates currently offered for deposits of similar remaining maturities. Short-term Borrowings The amounts payable on these short-term instruments are reasonable estimates of fair value. Junior Subordinated Debentures The fair values of junior subordinated debentures are estimated using the rates that would be charged for junior subordinated debentures of similar remaining maturities. Loan Commitments and Letters of Credit The fair values of commitments are estimated using the fees currently charged to enter into similar agreements, taking into account the terms of the agreements. The fair values of letters of credit are based on fees currently charged for similar agreements. The estimated fair values of the Company’s financial instruments that are reported at amortized cost in the Company’s consolidated balance sheets, segregated by the level of valuation inputs within the fair value hierarchy utilized to measure fair value, are as follows: March 31, December 31, 2017 2016 Carrying Amount Fair Value Carrying Amount Fair Value (Dollars in thousands) FINANCIAL ASSETS Level 2 inputs: Cash and cash equivalents $ 2,038,212 $ 2,038,212 $ 1,851,161 $ 1,851,161 Securities held for investment 3,503 3,538 3,722 3,760 Level 3 inputs: Securities held for investment 500 500 643 643 Loans, net of allowance for loan losses 4,342,854 4,358,648 4,351,539 4,367,363 FINANCIAL LIABILITIES Level 2 inputs: Deposits 6,394,627 6,462,059 6,248,057 6,313,622 Short-term borrowings 800 800 500 500 Junior subordinated debentures 31,959 36,248 31,959 34,339 OFF-BALANCE SHEET FINANCIAL INSTRUMENTS Loan commitments 1,749 1,718 Letters of credit 430 424 Non-financial Assets and Non-financial Liabilities Measured at Fair Value The Company has no non-financial assets or non-financial liabilities measured at fair value on a recurring basis. Certain non-financial assets and non-financial liabilities measured at fair value on a nonrecurring basis include intangible assets (excluding mortgage service rights, which are valued semi-annually) and other non-financial long-lived assets measured at fair value and adjusted for impairment. These items are evaluated at least annually for impairment. The overall levels of non-financial assets and non-financial liabilities measured at fair value on a nonrecurring basis were not considered to be significant to the Company at March 31, 2017 or December 31, 2016. |
Derivative Financial Instrument
Derivative Financial Instruments | 3 Months Ended |
Mar. 31, 2017 | |
Derivative Instruments And Hedging Activities Disclosure [Abstract] | |
Derivative Financial Instruments | (9 ) DERIVATIVE FINANCIAL INSTRUMENTS The Company enters into oil and gas swaps and options contracts to accommodate the business needs of its customers. Upon the origination of an oil or gas swap or option contract with a customer, the Company simultaneously enters into an offsetting contract with a counterparty to mitigate the exposure to fluctuations in oil and gas prices. These derivatives are not designated as hedged instruments and are recorded on the Company’s consolidated balance sheet at fair value. The Company utilizes dealer quotations and observable market data inputs to substantiate internal valuation models. The notional amounts and estimated fair values of oil and gas derivative positions outstanding are presented in the following table: March 31, 2017 December 31, 2016 Oil and Natural Gas Swaps and Options Notional Units Notional Amount Estimated Fair Value Notional Amount Estimated Fair Value (Notional amounts and dollars in thousands) Oil Derivative assets Barrels 63 $ 161 83 $ 576 Derivative liabilities Barrels (63 ) (101 ) (83 ) (496 ) Natural Gas Derivative assets MMBTUs 1,770 367 1,900 993 Derivative liabilities MMBTUs (1,770 ) (228 ) (1,900 ) (810 ) Total Fair Value Included in Derivative assets Other assets 528 1,569 Derivative liabilities Other liabilities (329 ) (1,306 ) The following table is a summary of the Company’s recognized income related to the activity, which was included in other noninterest income: Three Months Ended March 31, 2017 2016 (Dollars in thousands) Derivative income $ 5 $ 5 The Company’s credit exposure on oil and gas swaps and options varies based on the current market prices of oil and natural gas. Other than credit risk, changes in the fair value of customer positions will be offset by equal and opposite changes in the counterparty positions. The net positive fair value of the contracts is the profit derived from the activity and is unaffected by market price movements. The Company’s share of total profit is approximately 35%. Customer credit exposure is managed by strict position limits and is primarily offset by first liens on production while the remainder is offset by cash. Counterparty credit exposure is managed by selecting highly rated counterparties (rated A- or better by Standard and Poor’s) and monitoring market information. The following table is a summary of the Company’s net credit exposure relating to oil and gas swaps and options with bank counterparties: March 31, 2017 December 31, 2016 (Dollars in Credit exposure $ — $ — Balance Sheet Offsetting Derivatives may be eligible for offset in the consolidated balance sheet and/or subject to master netting arrangements. The Company’s derivative transactions with upstream financial institution counterparties and bank customers are generally executed under International Swaps and Derivative Association (“ISDA”) master agreements which include “right of set-off” provisions. In such cases there is generally a legally enforceable right to offset recognized amounts and there may be an intention to settle such amounts on a net basis. Nonetheless, the Company does not generally offset such financial instruments for financial reporting purposes. |
Segment Information
Segment Information | 3 Months Ended |
Mar. 31, 2017 | |
Segment Reporting [Abstract] | |
Segment Information | (1 0 ) SEGMENT INFORMATION The Company evaluates its performance with an internal profitability measurement system that measures the profitability of its business units on a pre-tax basis. The four principal business units are metropolitan banks, community banks, other financial services and executive, operations and support. Metropolitan and community banks offer traditional banking products such as commercial and retail lending and a full line of deposit accounts. Metropolitan banks consist of banking locations in the metropolitan Oklahoma City and Tulsa areas. Community banks consist of banking locations in communities throughout Oklahoma. Other financial services are specialty product business units including guaranteed small business lending, residential mortgage lending, trust services, securities brokerage, electronic banking and insurance. The executive, operations and support groups represent executive management, operational support and corporate functions that are not allocated to the other business units. The results of operations and selected financial information for the four business units are as follows: Metropolitan Banks Community Banks Other Financial Services Executive, Operations & Support Eliminations Consolidated (Dollars in thousands) Three Months Ended March 31, 2017 Net interest income (expense) $ 18,520 $ 35,123 $ 1,495 $ (370 ) $ — $ 54,768 Noninterest income 3,822 13,277 8,310 24,472 (21,796 ) 28,085 Income before taxes 13,074 22,719 3,645 15,511 (21,756 ) 33,193 Three Months Ended March 31, 2016 Net interest income (expense) $ 15,843 $ 33,122 $ 1,416 $ (405 ) $ — $ 49,976 Noninterest income 3,788 13,596 7,479 17,678 (16,924 ) 25,617 Income before taxes 9,348 19,094 3,114 10,500 (16,857 ) 25,199 Total Assets: March 31, 2017 $ 2,569,703 $ 4,481,943 $ 75,587 $ 854,316 $ (791,912 ) $ 7,189,637 December 31, 2016 2,493,096 4,412,174 83,594 803,810 (773,722 ) 7,018,952 The financial information for each business unit is presented on the basis used internally by management to evaluate performance and allocate resources. The Company utilizes a transfer pricing system to allocate the benefit or cost of funds provided or used by the various business units. Certain services provided by the support group to other business units, such as item processing, are allocated at rates approximating the cost of providing the services. Eliminations are adjustments to consolidate the business units and companies. Capital expenditures are generally charged to the business unit using the asset. |
Description of Business and S19
Description of Business and Summary of Significant Accounting Policies (Policies) | 3 Months Ended |
Mar. 31, 2017 | |
Accounting Policies [Abstract] | |
Basis of Presentation | Basis of Presentation The accompanying unaudited interim consolidated financial statements include the accounts of BancFirst Corporation, Council Oak Partners, LLC, BancFirst Insurance Services, Inc. and BancFirst and its subsidiaries. The principal operating subsidiaries of BancFirst are Council Oak Investment Corporation, Council Oak Real Estate, Inc. and BancFirst Agency, Inc. All significant intercompany accounts and transactions have been eliminated. Assets held in a fiduciary or agency capacity are not assets of the Company and, accordingly, are not included in the unaudited interim consolidated financial statements. The accompanying unaudited interim consolidated financial statements and notes are presented in accordance with the instructions for Form 10-Q. The information contained in the financial statements and footnotes included in BancFirst Corporation’s Annual Report on Form 10-K for the year ended December 31, 2016, should be referred to in connection with these unaudited interim consolidated financial statements. Operating results for the interim periods disclosed herein are not necessarily indicative of the results that may be expected for a full year or any future period. The unaudited interim consolidated financial statements contained herein reflect all adjustments which are, in the opinion of management, necessary to provide a fair statement of the financial position and results of operations of the Company for the interim periods presented. All such adjustments are of a normal and recurring nature. There have been no significant changes in the accounting policies of the Company since December 31, 2016, the date of the most recent annual report. |
Use of Estimates in the Preparation of Financial Statements | Use of Estimates in the Preparation of Financial Statements The preparation of financial statements in conformity with accounting principles generally accepted in the United States inherently involves the use of estimates and assumptions that affect the amounts reported in the financial statements and the related disclosures. These estimates relate principally to the determination of the allowance for loan losses, income taxes, the fair value of financial instruments and the valuation of intangibles. Such estimates and assumptions may change over time and actual amounts realized may differ from those reported. |
Recent Accounting Pronouncements | Recent Accounting Pronouncements Standards Adopted During Current Period: In March 2017, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2017-08, “Receivables – Nonrefundable Fees and Other Costs (Topic 310-20): Premium Amortization on Purchased Callable Debt Securities.” ASU 2017-08 shortens the amortization period for certain callable debt securities held at a premium. The Company opted for early adoption of ASU 2017-08, as was permitted, on January 1, 2017. ASU 2017-08 did not have a significant impact on the Company’s financial statements and no prior periods were adjusted. In October 2016, the FASB issued ASU No. 2016-17, “Consolidation (Topic 810): Interests Held Through Related Parties That Are Under Common Control.” ASU 2016-17 updates ASU No. 2015-02 to amend the consolidation guidance on how a reporting entity that is the single decision maker of a variable interest entity (“VIE”) should treat indirect interests in the entity held through related parties that are under common control with the reporting entity when determining whether it is the primary beneficiary of that VIE. ASU 2016-17 was adopted on January 1, 2017 and did not have a significant impact on the Company’s financial statements and no prior periods were adjusted. In March 2016, the FASB issued ASU No. 2016-09, “Compensation - Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting.” Under ASU 2016-09 all excess tax benefits and tax deficiencies related to share-based payment awards should be recognized as income tax expense or benefit in the income statement during the period in which they occur. Previously, such amounts were recorded in the pool of excess tax benefits included in additional paid-in capital, if such pool was available. Because excess tax benefits are no longer recognized in additional paid-in capital, the assumed proceeds from applying the treasury stock method when computing earnings per share should exclude the amount of excess tax benefits that would have previously been recognized in additional paid-in capital. Additionally, excess tax benefits should be classified along with other income tax cash flows as an operating activity rather than a financing activity, as was previously the case. ASU 2016-09 also allows entities to make an entity-wide accounting policy election to account for forfeitures when they occur, which the Company has elected to do. ASU 2016-09 changes the threshold to qualify for equity classification (rather than as a liability) to permit withholding up to the maximum statutory tax rates (rather than the minimum as was previously the case) in the applicable jurisdictions. ASU 2016-09 was adopted on January 1, 2017 and did not have a significant impact on the Company’s financial statements. In addition, ASU 2016-09 was applied prospectively and no prior periods were adjusted. The excess tax benefit for share-based payment awards that vested or were exercised during the three months ended March 31, 2017 was approximately $376,000. In August 2014, the FASB issued ASU No. 2014-15, “Presentation of Financial Statements – Going Concern (Topic 205-40).” ASU 2014-15 provides guidance on management’s responsibility in evaluating whether there is substantial doubt about the Company’s ability to continue as a going concern and related footnote disclosures. For each reporting period, management will be required to evaluate whether there are conditions or events that raise substantial doubt about the Company’s ability to continue as a going concern within one year from the date the financial statements are issued. ASU 2014-15 was adopted on January 1, 2017. Adoption of ASU 2014-15 did not have a significant effect on the Company’s financial statements. Standards Not Yet Adopted: In January 2017, the FASB issued ASU No. 2017-04, “Intangibles – Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment.” ASU 2017-04 removes the second step of goodwill testing. ASU 2017-04 will be effective on January 1, 2020 and is not expected to have a significant impact on the Company’s financial statements. In January 2017, the FASB issued ASU No. 2017-01, “Business Combinations (Topic 805): Clarifying the Definition of a Business.” ASU 2017-01 clarifies the definition of a business with the objective of adding guidance to assist entities with evaluating whether transactions should be accounted for as acquisitions (or disposals) of a business. ASU 2017-01 will be effective on January 1, 2018 and is not expected to have a significant impact on the Company’s financial statements. In October 2016, the FASB issued ASU No. 2016-16, “Income Taxes (Topic 740): Intra-Entity Transfers of Assets Other Than Inventory.” ASU 2016-16 provides guidance stating that an entity should recognize the income tax consequences of an intra-entity transfer of an asset other than inventory when the transfer occurs. ASU 2016-16 will be effective on January 1, 2018 and is not expected to have a significant impact on the Company’s financial statements. In August 2016, the FASB issued ASU No. 2016-15, “Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments.” ASU 2016-15 is intended to reduce the diversity in practice around how certain transactions are classified within the statement of cash flows. ASU 2016-15 will be effective on January 1, 2018. Early adoption is permitted with retrospective applications. The Company is currently evaluating the potential impact of ASU 2016-15 on its financial statements. In June 2016, the FASB issued ASU No. 2016-13, “Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments.” ASU 2016-13 requires a financial asset measured at amortized cost basis to be presented at the net amount expected to be collected. The measurement of expected credit losses is based on relevant information about past events, including historical experience, current conditions, and reasonable and supportable forecasts that affect the collectability of the reported amount. ASU 2016-13 requires enhanced disclosures related to the significant estimates and judgements used in estimating credit losses, as well as the credit quality and underwriting standards of an organization’s portfolio. In addition, ASU 2016-13 amends the accounting for credit losses on available-for-sale debt securities and purchased financial assets with credit deterioration. ASU 2016-13 will be effective on January 1, 2020. The Company is currently evaluating the potential impact of ASU 2016-13 on its financial statements. In February 2016, the FASB issued ASU No. 2016-02, “Leases - (Topic 842).” ASU 2016-02 requires that lessees recognize on the balance sheet the assets and liabilities for the rights and obligations created by leases. The amendments are effective for annual periods, and interim reporting periods within those annual periods, beginning after December 15, 2018. Early adoption is permitted. Adoption of ASU 2016-02 is not expected to have a significant effect on the Company’s financial statements. In January 2016, the FASB issued ASU No. 2016-01, “Financial Instruments - Overall (Subtopic 825-10).” ASU 2016-01 require all equity investments (except those accounted for under the equity method of accounting or those that result in consolidation of the investee) to be measured at fair value with changes in the fair value recognized through net income. In addition, the amendment will require an entity to present separately in other comprehensive income the portion of the total change in the fair value of a liability resulting from a change in the instrument-specific credit risk when the entity has elected to measure the liability at fair value in accordance with the fair value option for financial instruments. The amendments are effective for annual periods, and interim reporting periods within those annual periods, beginning after December 15, 2017. Early adoption is not permitted. Adoption of ASU 2016-01 is not expected to have a significant effect on the Company’s financial statements. In January of 2014, the FASB issued ASU No. 2014-09, “Revenue from Contracts with Customer (Topic 606).” ASU 2014-09 implements a comprehensive new revenue recognition standard that will supersede substantially all existing revenue recognition guidance. The new standard’s core principle is that a company will recognize revenue when it transfers promised goods or services to customers in a manner that reflects the consideration to which the company expects to be entitled in exchange for those goods or services. The guidance does not apply to revenue associated with financial instruments, including loans and securities that are accounted for under other GAAP, which comprises a significant portion of the Company’s revenue stream. In August 2015, the FASB issued ASU No. 2015-14, “Revenue from Contracts with Customers (Topic 606).” ASU 2015-14 is an amendment to defer the effective date of ASU N. 2014-09. The amendments are effective for annual periods, and interim reporting periods within those annual periods, beginning after December 15, 2017. Adoption of ASU 2014-09 may require the Company to amend how it recognizes certain recurring revenue streams related to trust fees, which are recorded in non-interest expense; however, the Company does not expect the adoption of ASU 2014-09 to have a significant impact on the Company’s financial statements. |
Securities (Tables)
Securities (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
Investments Debt And Equity Securities [Abstract] | |
Summary of Securities Held for Investment and Securities Available for Sale | The following table summarizes securities held for investment and securities available for sale: March 31, 2017 December 31, 2016 (Dollars in thousands) Held for investment, at cost (fair value: $4,038 and $4,403, respectively) $ 4,003 $ 4,365 Available for sale, at fair value 459,247 465,468 Total $ 463,250 $ 469,833 |
Summary of Amortized Cost and Estimated Fair Values of Securities Held for Investment | The following table summarizes the amortized cost and estimated fair values of securities held for investment: Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value March 31, 2017 (Dollars in thousands) Mortgage backed securities (1) $ 233 $ 15 $ — $ 248 States and political subdivisions 3,270 22 (2 ) 3,290 Other securities 500 — — 500 Total $ 4,003 $ 37 $ (2 ) $ 4,038 December 31, 2016 Mortgage backed securities (1) $ 252 $ 17 $ — $ 269 States and political subdivisions 3,613 25 (4 ) 3,634 Other securities 500 — — 500 Total $ 4,365 $ 42 $ (4 ) $ 4,403 |
Summary of Amortized Cost and Estimated Fair Values of Securities Available for Sale | The following table summarizes the amortized cost and estimated fair values of securities available for sale: Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value March 31, 2017 (Dollars in thousands) U.S. treasuries $ 289,248 $ 723 $ (538 ) $ 289,433 U.S. federal agencies 105,166 307 (415 ) 105,058 Mortgage backed securities (1) 19,369 271 (567 ) 19,073 States and political subdivisions 38,856 853 (71 ) 39,638 Other securities (2) 6,746 125 (826 ) 6,045 Total $ 459,385 $ 2,279 $ (2,417 ) $ 459,247 December 31, 2016 U.S. treasuries $ 268,763 $ 700 $ (920 ) $ 268,543 U.S. federal agencies 129,674 373 (405 ) 129,642 Mortgage backed securities (1) 19,949 290 (567 ) 19,672 States and political subdivisions 40,335 836 (129 ) 41,042 Other securities (2) 6,594 125 (150 ) 6,569 Total $ 465,315 $ 2,324 $ (2,171 ) $ 465,468 (1) Primarily consists of FHLMC, FNMA, GNMA and mortgage backed securities through U.S. agencies. (2) Primarily consists of equity securities. |
Maturity of Securities | The maturities of securities held for investment and available for sale are summarized in the following table using contractual maturities. Actual maturities may differ from contractual maturities due to obligations that are called or prepaid. For purposes of the maturity table, mortgage-backed securities, which are not due at a single maturity date, have been presented at their contractual maturity. March 31, 2017 December 31, 2016 Amortized Cost Estimated Fair Value Amortized Cost Estimated Fair Value (Dollars in thousands) Held for Investment Contractual maturity of debt securities: Within one year $ 1,563 $ 1,573 $ 1,561 $ 1,568 After one year but within five years 1,751 1,762 1,937 1,951 After five years but within ten years 673 687 707 723 After ten years 16 16 160 161 Total $ 4,003 $ 4,038 $ 4,365 $ 4,403 Available for Sale Contractual maturity of debt securities: Within one year $ 75,206 $ 75,378 $ 66,542 $ 66,662 After one year but within five years 308,182 308,229 320,150 319,839 After five years but within ten years 6,318 6,666 5,830 6,152 After ten years 62,933 62,929 66,199 66,246 Total debt securities 452,639 453,202 458,721 458,899 Equity securities 6,746 6,045 6,594 6,569 Total $ 459,385 $ 459,247 $ 465,315 $ 465,468 |
Company's Book Value of Pledged Securities | The following table is a summary of the Company’s book value of securities that were pledged as collateral for public funds on deposit, repurchase agreements and for other purposes as required or permitted by law: March 31, 2017 December 31, 2016 (Dollars Book value of pledged securities $ 432,232 $ 439,692 |
Loans and Allowance for Loan 21
Loans and Allowance for Loan Losses (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
Receivables [Abstract] | |
Schedule of Loans Outstanding by Category | The following is a schedule of loans outstanding by category: March 31, 2017 December 31, 2016 Amount Percent Amount Percent (Dollars in thousands) Commercial and financial: Commercial and industrial $ 834,561 19.01 % $ 828,260 18.82 % Oil & gas production and equipment 84,976 1.93 84,228 1.91 Agriculture 139,542 3.18 144,751 3.29 State and political subdivisions: Taxable 32,597 0.74 33,793 0.77 Tax-exempt 48,313 1.10 47,283 1.07 Real estate: Construction 417,148 9.50 420,884 9.57 Farmland 201,450 4.59 197,872 4.50 One to four family residences 843,731 19.22 846,360 19.24 Multifamily residential properties 48,302 1.10 57,806 1.31 Commercial 1,433,707 32.65 1,426,643 32.42 Consumer 272,637 6.21 279,704 6.36 Other (not classified above) 33,811 0.77 32,648 0.74 Total loans $ 4,390,775 100.00 % $ 4,400,232 100.00 % |
Summary of Nonperforming and Restructured Assets | The following is a summary of nonperforming and restructured assets: March 31, December 31, 2017 2016 (Dollars in thousands) Past due 90 days or more and still accruing $ 2,024 $ 1,962 Nonaccrual 23,694 31,798 Restructured 2,203 1,713 Total nonperforming and restructured loans 27,921 35,473 Other real estate owned and repossessed assets 4,404 3,866 Total nonperforming and restructured assets $ 32,325 $ 39,339 |
Summary of Amounts Included in Nonaccrual Loans Segregated by Class of Loans | The following table is a summary of amounts included in nonaccrual loans, segregated by class of loans. Residential real estate refers to one-to-four family real estate. March 31, 2017 December 31, 2016 (Dollars in thousands) Real estate: Non-residential real estate owner occupied $ 599 $ 713 Non-residential real estate other 2,087 5,688 Residential real estate permanent mortgage 1,397 1,116 Residential real estate all other 4,726 5,089 Commercial and financial: Non-consumer non-real estate 3,643 4,464 Consumer non-real estate 286 265 Other loans 5,033 8,370 Acquired loans 5,923 6,093 Total $ 23,694 $ 31,798 |
Age Analysis of Past Due Loans Segregated by Class of Loans | The following table presents an age analysis of past due loans, segregated by class of loans: Age Analysis of Past Due Loans 30-59 Days Past Due 60-89 Days Past Due 90 Days and Greater Total Past Due Loans Current Loans Total Loans Accruing Loans 90 Days or More Past Due (Dollars in thousands) As of March 31, 2017 Real estate: Non-residential real estate owner occupied $ 1,183 $ 526 $ 1,034 $ 2,743 $ 573,970 $ 576,713 $ 983 Non-residential real estate other 1,985 29 250 2,264 1,125,063 1,127,327 — Residential real estate permanent mortgage 1,900 756 1,085 3,741 319,986 323,727 232 Residential real estate all other 5,036 337 982 6,355 732,679 739,034 252 Commercial and financial: Non-consumer non-real estate 3,837 1,722 272 5,831 1,053,489 1,059,320 108 Consumer non-real estate 1,954 595 502 3,051 273,007 276,058 384 Other loans 5,143 826 4,760 10,729 131,804 142,533 51 Acquired loans 1,104 20 2,537 3,661 142,402 146,063 14 Total $ 22,142 $ 4,811 $ 11,422 $ 38,375 $ 4,352,400 $ 4,390,775 $ 2,024 As of December 31, 2016 Real estate: Non-residential real estate owner occupied $ 2,255 $ 96 $ 150 $ 2,501 $ 569,130 $ 571,631 $ — Non-residential real estate other 611 16 418 1,045 1,122,351 1,123,396 — Residential real estate permanent mortgage 2,742 649 1,273 4,664 320,749 325,413 513 Residential real estate all other 2,559 531 1,416 4,506 743,723 748,229 369 Commercial and financial: Non-consumer non-real estate 1,269 1,628 741 3,638 1,047,547 1,051,185 608 Consumer non-real estate 2,046 760 419 3,225 280,652 283,877 274 Other loans 5,345 958 7,775 14,078 127,404 141,482 45 Acquired loans 825 310 408 1,543 153,476 155,019 153 Total $ 17,652 $ 4,948 $ 12,600 $ 35,200 $ 4,365,032 $ 4,400,232 $ 1,962 |
Impaired Loans Segregated by Class of Loans | The following table presents impaired loans, segregated by class of loans. During the period ended March 31, 2017, $2.3 million of interest income was recognized on impaired loans subsequent to their classification as impaired. During previous periods no material amount of interest income was recognized on impaired loans subsequent to their classification as impaired. Impaired Loans Unpaid Principal Balance Recorded Investment with Allowance Related Allowance Average Recorded Investment (Dollars in thousands) As of March 31, 2017 Real estate: Non-residential real estate owner occupied $ 1,766 $ 1,672 $ 73 $ 1,026 Non-residential real estate other 2,175 2,087 448 4,809 Residential real estate permanent mortgage 1,884 1,682 129 1,808 Residential real estate all other 5,364 5,123 1,513 5,388 Commercial and financial: Non-consumer non-real estate 11,474 5,461 1,486 5,882 Consumer non-real estate 814 777 141 776 Other loans 6,606 5,084 673 5,276 Acquired loans 8,196 6,186 — 6,472 Total $ 38,279 $ 28,072 $ 4,463 $ 31,437 As of December 31, 2016 Real estate: Non-residential real estate owner occupied $ 894 $ 806 $ 101 $ 825 Non-residential real estate other 7,742 5,688 574 5,854 Residential real estate permanent mortgage 1,878 1,683 124 1,612 Residential real estate all other 5,871 5,614 1,538 5,445 Commercial and financial: Non-consumer non-real estate 12,015 6,272 1,457 6,478 Consumer non-real estate 686 650 133 788 Other loans 9,799 8,415 1,870 8,062 Acquired loans 8,780 6,581 — 6,041 Total $ 47,665 $ 35,709 $ 5,797 $ 35,105 |
Internal Loan Grading by Class of Loans | The following table presents internal loan grading by class of loans: Internal Loan Grading Grade 1 2 3 4 5 Total (Dollars in thousands) As of March 31, 2017 Real estate: Non-residential real estate owner occupied $ 469,833 $ 91,517 $ 14,764 $ 599 $ — $ 576,713 Non-residential real estate other 931,160 179,042 15,038 2,087 — 1,127,327 Residential real estate permanent mortgage 281,991 33,986 6,121 1,629 — 323,727 Residential real estate all other 601,273 121,042 11,756 4,963 — 739,034 Commercial and financial: Non-consumer non-real estate 830,209 203,922 21,216 3,973 — 1,059,320 Consumer non-real estate 255,874 17,116 2,367 701 — 276,058 Other loans 135,396 5,678 1,365 94 — 142,533 Acquired loans 87,373 39,256 13,310 6,124 — 146,063 Total $ 3,593,109 $ 691,559 $ 85,937 $ 20,170 $ — $ 4,390,775 As of December 31, 2016 Real estate: Non-residential real estate owner occupied $ 464,504 $ 89,978 $ 16,220 $ 929 $ — $ 571,631 Non-residential real estate other 933,743 169,561 14,404 5,688 — 1,123,396 Residential real estate permanent mortgage 284,893 32,889 5,987 1,644 — 325,413 Residential real estate all other 614,338 119,018 9,382 5,491 — 748,229 Commercial and financial: Non-consumer non-real estate 856,318 170,865 19,101 4,901 — 1,051,185 Consumer non-real estate 263,442 17,154 2,640 641 — 283,877 Other loans 132,254 5,376 1,514 2,338 — 141,482 Acquired loans 92,946 42,668 12,888 6,517 — 155,019 Total $ 3,642,438 $ 647,509 $ 82,136 $ 28,149 $ — $ 4,400,232 |
Activity in ALL by Class of Loans | The following table details activity in the ALL by class of loans for the period presented. Allocation of a portion of the allowance to one category of loans does not preclude its availability to absorb losses in other categories. ALL Balance at beginning of period Charge- offs Recoveries Net charge-offs Provisions charged to operations Balance at end of period (Dollars in thousands) Three Months Ended March 31, 2017 Real estate: Non-residential real estate owner occupied $ 5,602 $ (32 ) $ 1 $ (31 ) $ (9 ) $ 5,562 Non-residential real estate other 10,793 (1 ) 1 — (5 ) 10,788 Residential real estate permanent mortgage 3,129 (120 ) 1 (119 ) 120 3,130 Residential real estate all other 8,622 (57 ) 11 (46 ) 83 8,659 Commercial and financial: Non-consumer non-real estate 12,421 (206 ) 918 712 (323 ) 12,810 Consumer non-real estate 2,804 (234 ) 51 (183 ) 104 2,725 Other loans 4,045 (1,218 ) 4 (1,214 ) 127 2,958 Acquired loans 1,277 (13 ) 50 37 (25 ) 1,289 Total $ 48,693 $ (1,881 ) $ 1,037 $ (844 ) $ 72 $ 47,921 ALL Balance at beginning of period Charge- offs Recoveries Net charge-offs Provisions charged to operations Balance at end of period (Dollars in thousands) Three Months Ended March 31, 2016 Real estate: Non-residential real estate owner occupied $ 4,661 $ (1 ) $ — $ (1 ) $ 172 $ 4,832 Non-residential real estate other 9,921 (1 ) 1 — 290 10,211 Residential real estate permanent mortgage 3,148 (50 ) 17 (33 ) 49 3,164 Residential real estate all other 6,725 (67 ) 4 (63 ) 1,327 7,989 Commercial and financial: Non-consumer non-real estate 11,754 (803 ) 11 (792 ) 1,851 12,813 Consumer non-real estate 2,642 (221 ) 38 (183 ) 94 2,553 Other loans 2,648 (133 ) 6 (127 ) 269 2,790 Acquired loans 167 (4 ) 5 1 51 219 Total $ 41,666 $ (1,280 ) $ 82 $ (1,198 ) $ 4,103 $ 44,571 |
Allowance for Loan Losses Outstanding by Impairment Methodology | The following table details the amount of ALL by class of loans for the period presented, detailed on the basis of the impairment methodology used by the Company. ALL March 31, 2017 December 31, 2016 Individually evaluated for impairment Collectively evaluated for impairment Individually evaluated for impairment Collectively evaluated for impairment (Dollars in thousands) Real estate: Non-residential real estate owner occupied. $ 614 $ 4,948 $ 716 $ 4,886 Non-residential real estate other 1,011 9,777 1,119 9,674 Residential real estate permanent mortgage 433 2,697 422 2,707 Residential real estate all other 2,275 6,384 2,160 6,462 Commercial and financial: Non-consumer non-real estate 3,517 9,293 3,317 9,104 Consumer non-real estate 459 2,266 478 2,326 Other loans 658 2,300 1,812 2,233 Acquired loans 10 1,279 495 782 Total $ 8,977 $ 38,944 $ 10,519 $ 38,174 |
Loans Outstanding by Impairment Methodology | The following table details the loans outstanding by class of loans for the period presented, on the basis of the impairment methodology used by the Company. Loans March 31, 2017 December 31, 2016 Individually evaluated for impairment Collectively evaluated for impairment Loans acquired with deteriorated credit quality Individually evaluated for impairment Collectively evaluated for impairment Loans acquired with deteriorated credit quality (Dollars in thousands) Real estate: Non-residential real estate owner occupied $ 15,363 $ 561,350 $ — $ 17,149 $ 554,482 $ — Non-residential real estate other 17,125 1,110,202 — 20,092 1,103,304 — Residential real estate permanent mortgage 7,750 315,977 — 7,631 317,782 — Residential real estate all other 16,719 722,315 — 14,873 733,356 — Commercial and financial: Non-consumer non-real estate 25,189 1,034,131 — 24,002 1,027,183 — Consumer non-real estate 3,068 272,990 — 3,203 280,674 — Other loans 2,338 140,195 — 2,254 139,228 — Acquired loans 13,651 126,630 5,782 13,459 135,616 5,944 Total $ 101,203 $ 4,283,790 $ 5,782 $ 102,663 $ 4,291,625 $ 5,944 |
Transfers from Loans to Other Real Estate Owned and Repossessed Assets | Transfers from loans to other real estate owned and repossessed assets during the periods presented, are summarized as follows: Three Months Ended March 31, 2017 2016 (Dollars in thousands) Other real estate owned $ 901 $ 344 Repossessed assets 363 404 Total $ 1,264 $ 748 |
Intangible Assets (Tables)
Intangible Assets (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
Goodwill And Intangible Assets Disclosure [Abstract] | |
Summary of Intangible Assets | The following is a summary of intangible assets: Gross Carrying Amount Accumulated Amortization Net Carrying Amount (Dollars in thousands) As of March 31, 2017 Core deposit intangibles $ 17,447 $ (7,071 ) $ 10,376 Customer relationship intangibles 5,699 (3,506 ) 2,193 Mortgage servicing intangibles 465 (266 ) 199 Total $ 23,611 $ (10,843 ) $ 12,768 As of December 31, 2016 Core deposit intangibles $ 17,447 $ (6,611 ) $ 10,836 Customer relationship intangibles 5,699 (3,419 ) 2,280 Mortgage servicing intangibles 473 (259 ) 214 Total $ 23,619 $ (10,289 ) $ 13,330 |
Summary of Goodwill by Business Segment | The following is a summary of goodwill by business segment: Other Executive, Metropolitan Community Financial Operations Banks Banks Services & Support Consolidated (Dollars in thousands) Three month ended March 31, 2017 Balance at beginning and end of period $ 8,078 $ 40,050 $ 5,464 $ 450 $ 54,042 |
Stock-Based Compensation (Table
Stock-Based Compensation (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | |
Summary of Activity Under Stock Option Plan | The following table is a summary of the activity under both the BancFirst ISOP and the BancFirst Directors’ Stock Option Plan: Wgtd. Avg. Wgtd. Avg. Remaining Aggregate Exercise Contractual Intrinsic Options Price Term Value (Dollars in thousands, except option data) Three Months Ended March 31, 2017 Outstanding at December 31, 2016 707,450 $ 44.92 Options exercised (76,450 ) 34.14 Outstanding at March 31, 2017 631,000 46.23 9.75 Yrs $ 27,558 Exercisable at March 31, 2017 265,625 38.46 6.88 Yrs $ 13,663 |
Options Granted and Options Exercised Under Stock Option Plan | The following table has additional information regarding options granted and options exercised under both the BancFirst ISOP and the BancFirst Directors’ Stock Option Plan: Three Months Ended March 31, 2017 2016 (Dollars in thousands except per share data) Weighted average grant-date fair value per share of options granted $ — $ 11.47 Total intrinsic value of options exercised 4,613 779 Cash received from options exercised 2,610 875 Tax benefit realized from options exercised 1,784 301 |
Stock-based Employee Compensation Expense | The following table is a summary of the Company’s recorded stock-based compensation expense: Three Months Ended March 31, 2017 2016 (Dollars in thousands) Stock-based compensation expense $ 222 $ 451 Tax benefit 71 174 Stock-based compensation expense, net of tax $ 151 $ 277 |
Unearned Stock-based Compensation Expense | The Company will continue to amortize the unearned stock-based compensation expense over the remaining vesting period of approximately seven years. The following table shows the unearned stock-based compensation expense: March 31, 2017 (Dollars in thousands) Unearned stock-based compensation expense $ 2,538 |
Assumptions Used for Computing Stock-Based Compensation Expense | The following table shows the assumptions used for computing stock-based compensation expense under the fair value method on options granted during the periods presented: Three Months Ended March 31, 2017 2016 Risk-free interest rate — 1.91 to 2.02% Dividend yield — 2.00% Stock price volatility — 20.41 to 20.64% Expected term — 10 Yrs |
Summary of Accumulated Stock Units | A summary of the accumulated stock units is as follows: March 31, December 31, 2017 2016 Accumulated stock units 67,230 70,022 Average price $ 42.87 $ 41.74 |
Stockholders' Equity (Tables)
Stockholders' Equity (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
Equity [Abstract] | |
Summary of Shares Repurchased Under Stock Purchase Program | The following table is a summary of the shares under the program: Three Months Ended March 31, 2017 2016 Number of shares repurchased — 100,000 Average price of shares repurchased $ — $ 55.23 Shares remaining to be repurchased 150,000 66,276 |
Required Capital Amounts and Company's Respective Ratios | The actual and required capital amounts and ratios are shown in the following table: Required To Be Well For Capital With Capitalized Under Adequacy Capital Conservation Prompt Corrective Actual Purposes Buffer Action Provisions Amount Ratio Amount Ratio Amount Ratio Amount Ratio (Dollars in thousands) As of March 31, 2017: Total Capital (to Risk Weighted Assets)- BancFirst Corporation $ 743,955 15.72% $ 378,690 8.00% $ 437,861 9.250% N/A N/A BancFirst 668,329 14.14% 378,252 8.00% 437,354 9.250% $ 472,815 10.00% Common Equity Tier 1 Capital (to Risk Weighted Assets)- BancFirst Corporation $ 665,034 14.05% $ 213,013 4.50% $ 272,184 5.750% N/A N/A BancFirst 600,408 12.70% 212,767 4.50% 271,869 5.750% $ 307,330 6.50% Tier 1 Capital (to Risk Weighted Assets)- BancFirst Corporation $ 696,034 14.70% $ 284,018 6.00% $ 343,188 7.250% N/A N/A BancFirst 620,408 13.12% 283,689 6.00% 342,791 7.250% $ 378,252 8.00% Tier 1 Capital (to Total Assets)- BancFirst Corporation $ 696,034 9.95% $ 279,674 4.00% N/A N/A N/A N/A BancFirst 620,408 8.88% 279,412 4.00% N/A N/A $ 349,266 5.00% |
Net Income Per Common Share (Ta
Net Income Per Common Share (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
Earnings Per Share [Abstract] | |
Basic and Diluted Net Income Per Common Share Based on Weighted-average Shares Outstanding | Basic and diluted net income per common share based on weighted-average shares outstanding are calculated as follows: Income (Numerator) Shares (Denominator) Per Share Amount (Dollars in thousands, except per share data) Three Months Ended March 31, 2017 Basic Income available to common stockholders $ 22,050 15,864,807 $ 1.39 Dilutive effect of stock options — 373,191 Diluted Income available to common stockholders plus assumed exercises of stock options $ 22,050 16,237,998 $ 1.36 Three Months Ended March 31, 2016 Basic Income available to common stockholders $ 16,579 15,534,416 $ 1.07 Dilutive effect of stock options — 281,955 Diluted Income available to common stockholders plus assumed exercises of stock options $ 16,579 15,816,371 $ 1.05 |
Average Exercise Price of Options Excluded from Computation of Diluted Net Income Per Common Share | The following table shows the number and average exercise price of options that were excluded from the computation of diluted net income per common share for each period because the options’ exercise prices were greater than the average market price of the common shares: Shares Average Exercise Three Months Ended March 31, 2017 — $ — Three Months Ended March 31, 2016 236,451 $ 58.59 |
Fair Value Measurements (Tables
Fair Value Measurements (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
Fair Value Disclosures [Abstract] | |
Fair Value of Financial Assets and Liabilities Measured on Recurring Basis | The following table summarizes financial assets and financial liabilities measured at fair value on a recurring basis as of the periods presented, segregated by the level of the valuation inputs within the fair value hierarchy utilized to measure fair value: Level 1 Inputs Level 2 Inputs Level 3 Inputs Total Fair Value (Dollars in thousands) March 31, 2017 Securities available for sale: U.S. Treasury $ 289,433 $ — $ — $ 289,433 U.S. federal agencies — 105,058 — 105,058 Mortgage-backed securities — 4,464 14,609 19,073 States and political subdivisions — 39,638 — 39,638 Other securities — — 6,045 6,045 Derivative assets — 528 — 528 Derivative liabilities — 329 — 329 Loans held for sale — 7,754 — 7,754 December 31, 2016 Securities available for sale: U.S. Treasury $ 268,543 $ — $ — $ 268,543 U.S. federal agencies — 129,642 — 129,642 Mortgage-backed securities — 4,856 14,816 19,672 States and political subdivisions — 41,042 — 41,042 Other securities — — 6,569 6,569 Derivative assets — 1,569 — 1,569 Derivative liabilities — 1,306 — 1,306 Loans held for sale — 9,318 — 9,318 |
Changes in Level 3 Assets Measured at Estimated Fair Value on Recurring Basis | The changes in Level 3 assets measured at estimated fair value on a recurring basis during the periods presented were as follows: Three Months Ended March 31, Twelve Months Ended December 31, 2017 2016 (Dollars in thousands) Balance at the beginning of the year $ 21,385 $ 21,124 Purchases 157 1,096 Settlements (212 ) (191 ) Sales — (429 ) Losses included in earnings — (111 ) Total unrealized losses (676 ) (104 ) Balance at the end of the period $ 20,654 $ 21,385 |
Assets Measured at Fair Value on Nonrecurring Basis | The following table summarizes assets measured at fair value on a nonrecurring basis. The fair value represents end of period values, which approximate fair value measurements that occurred on various measurement dates throughout the period: Total Fair Value Level 3 (Dollars in thousands) As of and for the Year-to-date Period Ended March 31, 2017 Impaired loans (less specific allowance) $ 23,609 Repossessed assets 266 Other real estate owned 776 As of and for the Year-to-date Period Ended December 31, 2016 Impaired loans (less specific allowance) $ 29,912 Repossessed assets 340 Other real estate owned 1,480 |
Estimated Fair Values of Financial Instruments | The estimated fair values of the Company’s financial instruments that are reported at amortized cost in the Company’s consolidated balance sheets, segregated by the level of valuation inputs within the fair value hierarchy utilized to measure fair value, are as follows: March 31, December 31, 2017 2016 Carrying Amount Fair Value Carrying Amount Fair Value (Dollars in thousands) FINANCIAL ASSETS Level 2 inputs: Cash and cash equivalents $ 2,038,212 $ 2,038,212 $ 1,851,161 $ 1,851,161 Securities held for investment 3,503 3,538 3,722 3,760 Level 3 inputs: Securities held for investment 500 500 643 643 Loans, net of allowance for loan losses 4,342,854 4,358,648 4,351,539 4,367,363 FINANCIAL LIABILITIES Level 2 inputs: Deposits 6,394,627 6,462,059 6,248,057 6,313,622 Short-term borrowings 800 800 500 500 Junior subordinated debentures 31,959 36,248 31,959 34,339 OFF-BALANCE SHEET FINANCIAL INSTRUMENTS Loan commitments 1,749 1,718 Letters of credit 430 424 |
Derivative Financial Instrume27
Derivative Financial Instruments (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
Derivative Instruments And Hedging Activities Disclosure [Abstract] | |
Notional Amounts and Estimated Fair Values of Outstanding Derivative Positions | The Company utilizes dealer quotations and observable market data inputs to substantiate internal valuation models. The notional amounts and estimated fair values of oil and gas derivative positions outstanding are presented in the following table: March 31, 2017 December 31, 2016 Oil and Natural Gas Swaps and Options Notional Units Notional Amount Estimated Fair Value Notional Amount Estimated Fair Value (Notional amounts and dollars in thousands) Oil Derivative assets Barrels 63 $ 161 83 $ 576 Derivative liabilities Barrels (63 ) (101 ) (83 ) (496 ) Natural Gas Derivative assets MMBTUs 1,770 367 1,900 993 Derivative liabilities MMBTUs (1,770 ) (228 ) (1,900 ) (810 ) Total Fair Value Included in Derivative assets Other assets 528 1,569 Derivative liabilities Other liabilities (329 ) (1,306 ) |
Recognized Derivative Income Included in Other Noninterest Income | The following table is a summary of the Company’s recognized income related to the activity, which was included in other noninterest income: Three Months Ended March 31, 2017 2016 (Dollars in thousands) Derivative income $ 5 $ 5 |
Summary of Company's Net Credit Exposure Relating to Oil and Gas Swaps and Options with Bank Counterparties | The following table is a summary of the Company’s net credit exposure relating to oil and gas swaps and options with bank counterparties: March 31, 2017 December 31, 2016 (Dollars in Credit exposure $ — $ — |
Segment Information (Tables)
Segment Information (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
Segment Reporting [Abstract] | |
Results of Operations and Selected Financial Information | The results of operations and selected financial information for the four business units are as follows: Metropolitan Banks Community Banks Other Financial Services Executive, Operations & Support Eliminations Consolidated (Dollars in thousands) Three Months Ended March 31, 2017 Net interest income (expense) $ 18,520 $ 35,123 $ 1,495 $ (370 ) $ — $ 54,768 Noninterest income 3,822 13,277 8,310 24,472 (21,796 ) 28,085 Income before taxes 13,074 22,719 3,645 15,511 (21,756 ) 33,193 Three Months Ended March 31, 2016 Net interest income (expense) $ 15,843 $ 33,122 $ 1,416 $ (405 ) $ — $ 49,976 Noninterest income 3,788 13,596 7,479 17,678 (16,924 ) 25,617 Income before taxes 9,348 19,094 3,114 10,500 (16,857 ) 25,199 Total Assets: March 31, 2017 $ 2,569,703 $ 4,481,943 $ 75,587 $ 854,316 $ (791,912 ) $ 7,189,637 December 31, 2016 2,493,096 4,412,174 83,594 803,810 (773,722 ) 7,018,952 |
Description of Business and S29
Description of Business and Summary of Significant Accounting Policies - Additional Information (Detail) | 3 Months Ended |
Mar. 31, 2017USD ($) | |
Basis Of Presentation And Summary Of Significant Accounting Policies [Line Items] | |
Excess tax benefit from share-based compensation | $ 376,000 |
Accounting Standards Update 2016-09 [Member] | |
Basis Of Presentation And Summary Of Significant Accounting Policies [Line Items] | |
Excess tax benefit from share-based compensation | $ 376,000 |
Securities - Summary of Securit
Securities - Summary of Securities Held for Investment and Securities Available for Sale (Detail) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 |
Marketable Securities [Abstract] | ||
Held for investment, at cost (fair value: $4,038 and $4,403, respectively) | $ 4,003 | $ 4,365 |
Available for sale, at fair value | 459,247 | 465,468 |
Total | $ 463,250 | $ 469,833 |
Securities - Summary of Secur31
Securities - Summary of Securities Held for Investment and Securities Available for Sale (Parenthetical) (Detail) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 |
Marketable Securities [Abstract] | ||
Held for investment at fair value | $ 4,038 | $ 4,403 |
Securities - Summary of Amortiz
Securities - Summary of Amortized Cost and Estimated Fair Values of Securities Held for Investment (Detail) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 |
Schedule of Held-to-maturity Securities [Line Items] | ||
Amortized Cost | $ 4,003 | $ 4,365 |
Gross Unrealized Gains | 37 | 42 |
Gross Unrealized Losses | (2) | (4) |
Estimated Fair Value | 4,038 | 4,403 |
Mortgage Backed Securities [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Amortized Cost | 233 | 252 |
Gross Unrealized Gains | 15 | 17 |
Estimated Fair Value | 248 | 269 |
States and Political Subdivisions [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Amortized Cost | 3,270 | 3,613 |
Gross Unrealized Gains | 22 | 25 |
Gross Unrealized Losses | (2) | (4) |
Estimated Fair Value | 3,290 | 3,634 |
Other Securities [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Amortized Cost | 500 | 500 |
Estimated Fair Value | $ 500 | $ 500 |
Securities - Summary of Amort33
Securities - Summary of Amortized Cost and Estimated Fair Values of Securities Available for Sale (Detail) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 |
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | $ 459,385 | $ 465,315 |
Gross Unrealized Gains | 2,279 | 2,324 |
Gross Unrealized Losses | (2,417) | (2,171) |
Estimated Fair Value | 459,247 | 465,468 |
U.S. Treasuries [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 289,248 | 268,763 |
Gross Unrealized Gains | 723 | 700 |
Gross Unrealized Losses | (538) | (920) |
Estimated Fair Value | 289,433 | 268,543 |
U.S. Federal Agencies [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 105,166 | 129,674 |
Gross Unrealized Gains | 307 | 373 |
Gross Unrealized Losses | (415) | (405) |
Estimated Fair Value | 105,058 | 129,642 |
Mortgage Backed Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 19,369 | 19,949 |
Gross Unrealized Gains | 271 | 290 |
Gross Unrealized Losses | (567) | (567) |
Estimated Fair Value | 19,073 | 19,672 |
States and Political Subdivisions [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 38,856 | 40,335 |
Gross Unrealized Gains | 853 | 836 |
Gross Unrealized Losses | (71) | (129) |
Estimated Fair Value | 39,638 | 41,042 |
Other Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 6,746 | 6,594 |
Gross Unrealized Gains | 125 | 125 |
Gross Unrealized Losses | (826) | (150) |
Estimated Fair Value | $ 6,045 | $ 6,569 |
Securities - Maturity of Securi
Securities - Maturity of Securities (Detail) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 |
Held for Investment, Contractual maturity of debt securities, Amortized Cost | ||
Amortized cost, Within one year | $ 1,563 | $ 1,561 |
Amortized cost, After one year but within five years | 1,751 | 1,937 |
Amortized cost, After five years but within ten years | 673 | 707 |
Amortized cost, After ten years | 16 | 160 |
Amortized Cost | 4,003 | 4,365 |
Available for sale, Contractual maturity of debt securities, Amortized Cost | ||
Amortized Cost, Within one year | 75,206 | 66,542 |
Amortized Cost, After one year but within five years | 308,182 | 320,150 |
Amortized Cost, After five years but within ten years | 6,318 | 5,830 |
Amortized Cost, After ten years | 62,933 | 66,199 |
Total debt securities | 452,639 | 458,721 |
Amortized Cost, Equity securities | 6,746 | 6,594 |
Amortized Cost | 459,385 | 465,315 |
Held for Investment, Contractual maturity of debt securities, Estimated Fair Value | ||
Estimated Fair Value, Within one year | 1,573 | 1,568 |
Estimated Fair Value, After one year but within five years | 1,762 | 1,951 |
Estimated Fair Value, After five years but within ten years | 687 | 723 |
Estimated Fair Value, After ten years | 16 | 161 |
Estimated Fair Value | 4,038 | 4,403 |
Available for sale, Contractual maturity of debt securities, Estimated Fair Value | ||
Estimated Fair Value, Within one year | 75,378 | 66,662 |
Estimated Fair Value, After one year but within five years | 308,229 | 319,839 |
Estimated Fair Value, After five years but within ten years | 6,666 | 6,152 |
Estimated Fair Value, After ten years | 62,929 | 66,246 |
Total debt securities | 453,202 | 458,899 |
Estimated Fair Value, Equity securities | 6,045 | 6,569 |
Estimated Fair Value, Total | $ 459,247 | $ 465,468 |
Securities - Company's Book Val
Securities - Company's Book Value of Pledged Securities (Detail) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 |
Pledged Financial Instruments Not Separately Reported Securities Pledged By Type Of Security [Abstract] | ||
Book value of pledged securities | $ 432,232 | $ 439,692 |
Loans and Allowance for Loan 36
Loans and Allowance for Loan Losses - Schedule of Loans Outstanding by Category (Detail) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 |
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | $ 4,390,775 | $ 4,400,232 |
Percent | 100.00% | 100.00% |
Taxable [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | $ 32,597 | $ 33,793 |
Percent | 0.74% | 0.77% |
Tax-exempt [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | $ 48,313 | $ 47,283 |
Percent | 1.10% | 1.07% |
Commercial and Financial [Member] | Commercial and Industrial [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | $ 834,561 | $ 828,260 |
Percent | 19.01% | 18.82% |
Commercial and Financial [Member] | Oil & Gas Production And Equipment [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | $ 84,976 | $ 84,228 |
Percent | 1.93% | 1.91% |
Commercial and Financial [Member] | Agriculture [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | $ 139,542 | $ 144,751 |
Percent | 3.18% | 3.29% |
Real Estate [Member] | Construction [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | $ 417,148 | $ 420,884 |
Percent | 9.50% | 9.57% |
Real Estate [Member] | Farmland [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | $ 201,450 | $ 197,872 |
Percent | 4.59% | 4.50% |
Real Estate [Member] | One to Four Family Residences [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | $ 843,731 | $ 846,360 |
Percent | 19.22% | 19.24% |
Real Estate [Member] | Multifamily Residential Properties [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | $ 48,302 | $ 57,806 |
Percent | 1.10% | 1.31% |
Real Estate [Member] | Commercial [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | $ 1,433,707 | $ 1,426,643 |
Percent | 32.65% | 32.42% |
Consumer [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | $ 272,637 | $ 279,704 |
Percent | 6.21% | 6.36% |
Other (Not Classified Above) [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | $ 33,811 | $ 32,648 |
Percent | 0.77% | 0.74% |
Loans and Allowance for Loan 37
Loans and Allowance for Loan Losses - Additional Information (Detail) - USD ($) | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | Dec. 31, 2016 | |
Financing Receivable Recorded Investment [Line Items] | |||
Total loans | $ 4,390,775,000 | $ 4,400,232,000 | |
Percentage of loans secured by real estate | 65.00% | ||
Interest income that would have been recognized | $ 499,000 | $ 513,000 | |
Interest income recognized on impaired loans | 2,300,000 | 0 | |
Gains on sales of other real estate owned | $ 1,200,000 | ||
Commercial and Industrial [Member] | Ancillary Services [Member] | |||
Financing Receivable Recorded Investment [Line Items] | |||
Total loans | $ 58,000,000 | $ 56,000,000 |
Loans and Allowance for Loan 38
Loans and Allowance for Loan Losses - Summary of Nonperforming and Restructured Assets (Detail) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 |
Summary Of Nonperforming And Restructured Assets [Abstract] | ||
Past due 90 days or more and still accruing | $ 2,024 | $ 1,962 |
Nonaccrual | 23,694 | 31,798 |
Restructured | 2,203 | 1,713 |
Total nonperforming and restructured loans | 27,921 | 35,473 |
Other real estate owned and repossessed assets | 4,404 | 3,866 |
Total nonperforming and restructured assets | $ 32,325 | $ 39,339 |
Loans and Allowance for Loan 39
Loans and Allowance for Loan Losses - Summary of Amounts Included in Nonaccrual Loans Segregated by Class of Loans (Detail) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual Loans, Total | $ 23,694 | $ 31,798 |
Real Estate [Member] | Non-residential Real Estate Owner Occupied [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual Loans, Total | 599 | 713 |
Real Estate [Member] | Non-residential Real Estate Other [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual Loans, Total | 2,087 | 5,688 |
Real Estate [Member] | Residential Real Estate Permanent Mortgage [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual Loans, Total | 1,397 | 1,116 |
Real Estate [Member] | Residential Real Estate All Other [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual Loans, Total | 4,726 | 5,089 |
Commercial and Financial [Member] | Non-consumer Non-real Estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual Loans, Total | 3,643 | 4,464 |
Consumer Non-real Estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual Loans, Total | 286 | 265 |
Other Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual Loans, Total | 5,033 | 8,370 |
Acquired Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual Loans, Total | $ 5,923 | $ 6,093 |
Loans and Allowance for Loan 40
Loans and Allowance for Loan Losses - Age Analysis of Past Due Loans Segregated by Class of Loans (Detail) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due Loans | $ 38,375 | $ 35,200 |
Current Loans | 4,352,400 | 4,365,032 |
Total Loans | 4,390,775 | 4,400,232 |
Accruing Loans 90 Days or More Past Due | 2,024 | 1,962 |
Real Estate [Member] | Non-residential Real Estate Owner Occupied [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due Loans | 2,743 | 2,501 |
Current Loans | 573,970 | 569,130 |
Total Loans | 576,713 | 571,631 |
Accruing Loans 90 Days or More Past Due | 983 | |
Real Estate [Member] | Non-residential Real Estate Other [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due Loans | 2,264 | 1,045 |
Current Loans | 1,125,063 | 1,122,351 |
Total Loans | 1,127,327 | 1,123,396 |
Real Estate [Member] | Residential Real Estate Permanent Mortgage [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due Loans | 3,741 | 4,664 |
Current Loans | 319,986 | 320,749 |
Total Loans | 323,727 | 325,413 |
Accruing Loans 90 Days or More Past Due | 232 | 513 |
Real Estate [Member] | Residential Real Estate All Other [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due Loans | 6,355 | 4,506 |
Current Loans | 732,679 | 743,723 |
Total Loans | 739,034 | 748,229 |
Accruing Loans 90 Days or More Past Due | 252 | 369 |
Commercial and Financial [Member] | Non-consumer Non-real Estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due Loans | 5,831 | 3,638 |
Current Loans | 1,053,489 | 1,047,547 |
Total Loans | 1,059,320 | 1,051,185 |
Accruing Loans 90 Days or More Past Due | 108 | 608 |
Consumer Non-real Estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due Loans | 3,051 | 3,225 |
Current Loans | 273,007 | 280,652 |
Total Loans | 276,058 | 283,877 |
Accruing Loans 90 Days or More Past Due | 384 | 274 |
Other Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due Loans | 10,729 | 14,078 |
Current Loans | 131,804 | 127,404 |
Total Loans | 142,533 | 141,482 |
Accruing Loans 90 Days or More Past Due | 51 | 45 |
Acquired Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due Loans | 3,661 | 1,543 |
Current Loans | 142,402 | 153,476 |
Total Loans | 146,063 | 155,019 |
Accruing Loans 90 Days or More Past Due | 14 | 153 |
30 to 59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due Loans | 22,142 | 17,652 |
30 to 59 Days Past Due [Member] | Real Estate [Member] | Non-residential Real Estate Owner Occupied [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due Loans | 1,183 | 2,255 |
30 to 59 Days Past Due [Member] | Real Estate [Member] | Non-residential Real Estate Other [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due Loans | 1,985 | 611 |
30 to 59 Days Past Due [Member] | Real Estate [Member] | Residential Real Estate Permanent Mortgage [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due Loans | 1,900 | 2,742 |
30 to 59 Days Past Due [Member] | Real Estate [Member] | Residential Real Estate All Other [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due Loans | 5,036 | 2,559 |
30 to 59 Days Past Due [Member] | Commercial and Financial [Member] | Non-consumer Non-real Estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due Loans | 3,837 | 1,269 |
30 to 59 Days Past Due [Member] | Consumer Non-real Estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due Loans | 1,954 | 2,046 |
30 to 59 Days Past Due [Member] | Other Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due Loans | 5,143 | 5,345 |
30 to 59 Days Past Due [Member] | Acquired Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due Loans | 1,104 | 825 |
60 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due Loans | 4,811 | 4,948 |
60 to 89 Days Past Due [Member] | Real Estate [Member] | Non-residential Real Estate Owner Occupied [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due Loans | 526 | 96 |
60 to 89 Days Past Due [Member] | Real Estate [Member] | Non-residential Real Estate Other [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due Loans | 29 | 16 |
60 to 89 Days Past Due [Member] | Real Estate [Member] | Residential Real Estate Permanent Mortgage [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due Loans | 756 | 649 |
60 to 89 Days Past Due [Member] | Real Estate [Member] | Residential Real Estate All Other [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due Loans | 337 | 531 |
60 to 89 Days Past Due [Member] | Commercial and Financial [Member] | Non-consumer Non-real Estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due Loans | 1,722 | 1,628 |
60 to 89 Days Past Due [Member] | Consumer Non-real Estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due Loans | 595 | 760 |
60 to 89 Days Past Due [Member] | Other Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due Loans | 826 | 958 |
60 to 89 Days Past Due [Member] | Acquired Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due Loans | 20 | 310 |
90 Days and Greater [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due Loans | 11,422 | 12,600 |
90 Days and Greater [Member] | Real Estate [Member] | Non-residential Real Estate Owner Occupied [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due Loans | 1,034 | 150 |
90 Days and Greater [Member] | Real Estate [Member] | Non-residential Real Estate Other [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due Loans | 250 | 418 |
90 Days and Greater [Member] | Real Estate [Member] | Residential Real Estate Permanent Mortgage [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due Loans | 1,085 | 1,273 |
90 Days and Greater [Member] | Real Estate [Member] | Residential Real Estate All Other [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due Loans | 982 | 1,416 |
90 Days and Greater [Member] | Commercial and Financial [Member] | Non-consumer Non-real Estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due Loans | 272 | 741 |
90 Days and Greater [Member] | Consumer Non-real Estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due Loans | 502 | 419 |
90 Days and Greater [Member] | Other Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due Loans | 4,760 | 7,775 |
90 Days and Greater [Member] | Acquired Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due Loans | $ 2,537 | $ 408 |
Loans and Allowance for Loan 41
Loans and Allowance for Loan Losses - Impaired Loans Segregated by Class of Loans (Detail) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended |
Mar. 31, 2017 | Dec. 31, 2016 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Unpaid Principal Balance | $ 38,279 | $ 47,665 |
Recorded Investment with Allowance | 28,072 | 35,709 |
Related Allowance | 4,463 | 5,797 |
Average Recorded Investment | 31,437 | 35,105 |
Real Estate [Member] | Non-residential Real Estate Owner Occupied [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Unpaid Principal Balance | 1,766 | 894 |
Recorded Investment with Allowance | 1,672 | 806 |
Related Allowance | 73 | 101 |
Average Recorded Investment | 1,026 | 825 |
Real Estate [Member] | Non-residential Real Estate Other [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Unpaid Principal Balance | 2,175 | 7,742 |
Recorded Investment with Allowance | 2,087 | 5,688 |
Related Allowance | 448 | 574 |
Average Recorded Investment | 4,809 | 5,854 |
Real Estate [Member] | Residential Real Estate Permanent Mortgage [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Unpaid Principal Balance | 1,884 | 1,878 |
Recorded Investment with Allowance | 1,682 | 1,683 |
Related Allowance | 129 | 124 |
Average Recorded Investment | 1,808 | 1,612 |
Real Estate [Member] | Residential Real Estate All Other [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Unpaid Principal Balance | 5,364 | 5,871 |
Recorded Investment with Allowance | 5,123 | 5,614 |
Related Allowance | 1,513 | 1,538 |
Average Recorded Investment | 5,388 | 5,445 |
Commercial and Financial [Member] | Non-consumer Non-real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Unpaid Principal Balance | 11,474 | 12,015 |
Recorded Investment with Allowance | 5,461 | 6,272 |
Related Allowance | 1,486 | 1,457 |
Average Recorded Investment | 5,882 | 6,478 |
Consumer Non-real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Unpaid Principal Balance | 814 | 686 |
Recorded Investment with Allowance | 777 | 650 |
Related Allowance | 141 | 133 |
Average Recorded Investment | 776 | 788 |
Other Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Unpaid Principal Balance | 6,606 | 9,799 |
Recorded Investment with Allowance | 5,084 | 8,415 |
Related Allowance | 673 | 1,870 |
Average Recorded Investment | 5,276 | 8,062 |
Acquired Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Unpaid Principal Balance | 8,196 | 8,780 |
Recorded Investment with Allowance | 6,186 | 6,581 |
Average Recorded Investment | $ 6,472 | $ 6,041 |
Loans and Allowance for Loan 42
Loans and Allowance for Loan Losses - Internal Loan Grading by Class of Loans (Detail) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 |
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | $ 4,390,775 | $ 4,400,232 |
Real Estate [Member] | Non-residential Real Estate Owner Occupied [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 576,713 | 571,631 |
Real Estate [Member] | Non-residential Real Estate Other [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 1,127,327 | 1,123,396 |
Real Estate [Member] | Residential Real Estate Permanent Mortgage [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 323,727 | 325,413 |
Real Estate [Member] | Residential Real Estate All Other [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 739,034 | 748,229 |
Commercial and Financial [Member] | Non-consumer Non-real Estate [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 1,059,320 | 1,051,185 |
Consumer Non-real Estate [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 276,058 | 283,877 |
Other Loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 142,533 | 141,482 |
Acquired Loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 146,063 | 155,019 |
Grade 1 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 3,593,109 | 3,642,438 |
Grade 1 [Member] | Real Estate [Member] | Non-residential Real Estate Owner Occupied [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 469,833 | 464,504 |
Grade 1 [Member] | Real Estate [Member] | Non-residential Real Estate Other [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 931,160 | 933,743 |
Grade 1 [Member] | Real Estate [Member] | Residential Real Estate Permanent Mortgage [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 281,991 | 284,893 |
Grade 1 [Member] | Real Estate [Member] | Residential Real Estate All Other [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 601,273 | 614,338 |
Grade 1 [Member] | Commercial and Financial [Member] | Non-consumer Non-real Estate [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 830,209 | 856,318 |
Grade 1 [Member] | Consumer Non-real Estate [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 255,874 | 263,442 |
Grade 1 [Member] | Other Loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 135,396 | 132,254 |
Grade 1 [Member] | Acquired Loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 87,373 | 92,946 |
Grade 2 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 691,559 | 647,509 |
Grade 2 [Member] | Real Estate [Member] | Non-residential Real Estate Owner Occupied [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 91,517 | 89,978 |
Grade 2 [Member] | Real Estate [Member] | Non-residential Real Estate Other [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 179,042 | 169,561 |
Grade 2 [Member] | Real Estate [Member] | Residential Real Estate Permanent Mortgage [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 33,986 | 32,889 |
Grade 2 [Member] | Real Estate [Member] | Residential Real Estate All Other [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 121,042 | 119,018 |
Grade 2 [Member] | Commercial and Financial [Member] | Non-consumer Non-real Estate [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 203,922 | 170,865 |
Grade 2 [Member] | Consumer Non-real Estate [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 17,116 | 17,154 |
Grade 2 [Member] | Other Loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 5,678 | 5,376 |
Grade 2 [Member] | Acquired Loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 39,256 | 42,668 |
Grade 3 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 85,937 | 82,136 |
Grade 3 [Member] | Real Estate [Member] | Non-residential Real Estate Owner Occupied [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 14,764 | 16,220 |
Grade 3 [Member] | Real Estate [Member] | Non-residential Real Estate Other [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 15,038 | 14,404 |
Grade 3 [Member] | Real Estate [Member] | Residential Real Estate Permanent Mortgage [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 6,121 | 5,987 |
Grade 3 [Member] | Real Estate [Member] | Residential Real Estate All Other [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 11,756 | 9,382 |
Grade 3 [Member] | Commercial and Financial [Member] | Non-consumer Non-real Estate [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 21,216 | 19,101 |
Grade 3 [Member] | Consumer Non-real Estate [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 2,367 | 2,640 |
Grade 3 [Member] | Other Loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 1,365 | 1,514 |
Grade 3 [Member] | Acquired Loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 13,310 | 12,888 |
Grade 4 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 20,170 | 28,149 |
Grade 4 [Member] | Real Estate [Member] | Non-residential Real Estate Owner Occupied [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 599 | 929 |
Grade 4 [Member] | Real Estate [Member] | Non-residential Real Estate Other [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 2,087 | 5,688 |
Grade 4 [Member] | Real Estate [Member] | Residential Real Estate Permanent Mortgage [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 1,629 | 1,644 |
Grade 4 [Member] | Real Estate [Member] | Residential Real Estate All Other [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 4,963 | 5,491 |
Grade 4 [Member] | Commercial and Financial [Member] | Non-consumer Non-real Estate [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 3,973 | 4,901 |
Grade 4 [Member] | Consumer Non-real Estate [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 701 | 641 |
Grade 4 [Member] | Other Loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 94 | 2,338 |
Grade 4 [Member] | Acquired Loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | $ 6,124 | $ 6,517 |
Loans and Allowance for Loan 43
Loans and Allowance for Loan Losses - Activity in ALL by Class of Loans (Detail) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Balance at beginning of period | $ 48,693 | $ 41,666 |
Charge- offs | (1,881) | (1,280) |
Recoveries | 1,037 | 82 |
Net charge- offs | (844) | (1,198) |
Provisions charged to operations | 72 | 4,103 |
Balance at end of period | 47,921 | 44,571 |
Real Estate [Member] | Non-residential Real Estate Owner Occupied [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Balance at beginning of period | 5,602 | 4,661 |
Charge- offs | (32) | (1) |
Recoveries | 1 | |
Net charge- offs | (31) | (1) |
Provisions charged to operations | (9) | 172 |
Balance at end of period | 5,562 | 4,832 |
Real Estate [Member] | Non-residential Real Estate Other [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Balance at beginning of period | 10,793 | 9,921 |
Charge- offs | (1) | (1) |
Recoveries | 1 | 1 |
Provisions charged to operations | (5) | 290 |
Balance at end of period | 10,788 | 10,211 |
Real Estate [Member] | Residential Real Estate Permanent Mortgage [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Balance at beginning of period | 3,129 | 3,148 |
Charge- offs | (120) | (50) |
Recoveries | 1 | 17 |
Net charge- offs | (119) | (33) |
Provisions charged to operations | 120 | 49 |
Balance at end of period | 3,130 | 3,164 |
Real Estate [Member] | Residential Real Estate All Other [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Balance at beginning of period | 8,622 | 6,725 |
Charge- offs | (57) | (67) |
Recoveries | 11 | 4 |
Net charge- offs | (46) | (63) |
Provisions charged to operations | 83 | 1,327 |
Balance at end of period | 8,659 | 7,989 |
Commercial and Financial [Member] | Non-consumer Non-real Estate [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Balance at beginning of period | 12,421 | 11,754 |
Charge- offs | (206) | (803) |
Recoveries | 918 | 11 |
Net charge- offs | 712 | (792) |
Provisions charged to operations | (323) | 1,851 |
Balance at end of period | 12,810 | 12,813 |
Consumer Non-real Estate [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Balance at beginning of period | 2,804 | 2,642 |
Charge- offs | (234) | (221) |
Recoveries | 51 | 38 |
Net charge- offs | (183) | (183) |
Provisions charged to operations | 104 | 94 |
Balance at end of period | 2,725 | 2,553 |
Other Loans [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Balance at beginning of period | 4,045 | 2,648 |
Charge- offs | (1,218) | (133) |
Recoveries | 4 | 6 |
Net charge- offs | (1,214) | (127) |
Provisions charged to operations | 127 | 269 |
Balance at end of period | 2,958 | 2,790 |
Acquired Loans [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Balance at beginning of period | 1,277 | 167 |
Charge- offs | (13) | (4) |
Recoveries | 50 | 5 |
Net charge- offs | 37 | 1 |
Provisions charged to operations | (25) | 51 |
Balance at end of period | $ 1,289 | $ 219 |
Loans and Allowance for Loan 44
Loans and Allowance for Loan Losses - Allowance for Loan Losses Outstanding by Impairment Methodology (Detail) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Individually evaluated for impairment | $ 8,977 | $ 10,519 |
Collectively evaluated for impairment | 38,944 | 38,174 |
Real Estate [Member] | Non-residential Real Estate Owner Occupied [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Individually evaluated for impairment | 614 | 716 |
Collectively evaluated for impairment | 4,948 | 4,886 |
Real Estate [Member] | Non-residential Real Estate Other [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Individually evaluated for impairment | 1,011 | 1,119 |
Collectively evaluated for impairment | 9,777 | 9,674 |
Real Estate [Member] | Residential Real Estate Permanent Mortgage [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Individually evaluated for impairment | 433 | 422 |
Collectively evaluated for impairment | 2,697 | 2,707 |
Real Estate [Member] | Residential Real Estate All Other [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Individually evaluated for impairment | 2,275 | 2,160 |
Collectively evaluated for impairment | 6,384 | 6,462 |
Commercial and Financial [Member] | Non-consumer Non-real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Individually evaluated for impairment | 3,517 | 3,317 |
Collectively evaluated for impairment | 9,293 | 9,104 |
Consumer Non-real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Individually evaluated for impairment | 459 | 478 |
Collectively evaluated for impairment | 2,266 | 2,326 |
Other Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Individually evaluated for impairment | 658 | 1,812 |
Collectively evaluated for impairment | 2,300 | 2,233 |
Acquired Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Individually evaluated for impairment | 10 | 495 |
Collectively evaluated for impairment | $ 1,279 | $ 782 |
Loans and Allowance for Loan 45
Loans and Allowance for Loan Losses - Loans Outstanding by Impairment Methodology (Detail) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Individually evaluated for impairment | $ 101,203 | $ 102,663 |
Collectively evaluated for impairment | 4,283,790 | 4,291,625 |
Receivables Acquired with Deteriorated Credit Quality [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans acquired with deteriorated credit quality | 5,782 | 5,944 |
Real Estate [Member] | Non-residential Real Estate Owner Occupied [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Individually evaluated for impairment | 15,363 | 17,149 |
Collectively evaluated for impairment | 561,350 | 554,482 |
Real Estate [Member] | Non-residential Real Estate Other [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Individually evaluated for impairment | 17,125 | 20,092 |
Collectively evaluated for impairment | 1,110,202 | 1,103,304 |
Real Estate [Member] | Residential Real Estate Permanent Mortgage [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Individually evaluated for impairment | 7,750 | 7,631 |
Collectively evaluated for impairment | 315,977 | 317,782 |
Real Estate [Member] | Residential Real Estate All Other [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Individually evaluated for impairment | 16,719 | 14,873 |
Collectively evaluated for impairment | 722,315 | 733,356 |
Commercial and Financial [Member] | Non-consumer Non-real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Individually evaluated for impairment | 25,189 | 24,002 |
Collectively evaluated for impairment | 1,034,131 | 1,027,183 |
Consumer Non-real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Individually evaluated for impairment | 3,068 | 3,203 |
Collectively evaluated for impairment | 272,990 | 280,674 |
Other Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Individually evaluated for impairment | 2,338 | 2,254 |
Collectively evaluated for impairment | 140,195 | 139,228 |
Acquired Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Individually evaluated for impairment | 13,651 | 13,459 |
Collectively evaluated for impairment | 126,630 | 135,616 |
Acquired Loans [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans acquired with deteriorated credit quality | $ 5,782 | $ 5,944 |
Loans and Allowance for Loan 46
Loans and Allowance for Loan Losses - Transfers from Loans to Other Real Estate Owned and Repossessed Assets (Detail) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Financing Receivable Allowance For Credit Loss Additional Information Transfer From Loans To Other Real Estate Owned And Repossessed Assets [Abstract] | ||
Other real estate owned | $ 901 | $ 344 |
Repossessed assets | 363 | 404 |
Total | $ 1,264 | $ 748 |
Intangible Assets - Summary of
Intangible Assets - Summary of Intangible Assets (Detail) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 |
Finite-Lived Intangible Assets [Line Items] | ||
Gross Carrying Amount | $ 23,611 | $ 23,619 |
Accumulated Amortization | (10,843) | (10,289) |
Net Carrying Amount | 12,768 | 13,330 |
Core Deposit Intangibles [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Gross Carrying Amount | 17,447 | 17,447 |
Accumulated Amortization | (7,071) | (6,611) |
Net Carrying Amount | 10,376 | 10,836 |
Customer Relationship Intangibles [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Gross Carrying Amount | 5,699 | 5,699 |
Accumulated Amortization | (3,506) | (3,419) |
Net Carrying Amount | 2,193 | 2,280 |
Mortgage Servicing Intangibles [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Gross Carrying Amount | 465 | 473 |
Accumulated Amortization | (266) | (259) |
Net Carrying Amount | $ 199 | $ 214 |
Intangible Assets - Summary o48
Intangible Assets - Summary of Goodwill by Business Segment (Detail) $ in Thousands | Mar. 31, 2017USD ($) |
Goodwill [Line Items] | |
Balance at beginning of period | $ 54,042 |
Balance at end of period | 54,042 |
Metropolitan Banks [Member] | |
Goodwill [Line Items] | |
Balance at beginning of period | 8,078 |
Balance at end of period | 8,078 |
Community Banks [Member] | |
Goodwill [Line Items] | |
Balance at beginning of period | 40,050 |
Balance at end of period | 40,050 |
Other Financial Services [Member] | |
Goodwill [Line Items] | |
Balance at beginning of period | 5,464 |
Balance at end of period | 5,464 |
Executive, Operations & Support [Member] | |
Goodwill [Line Items] | |
Balance at beginning of period | 450 |
Balance at end of period | $ 450 |
Stock-Based Compensation - Addi
Stock-Based Compensation - Additional Information (Detail) - shares | 3 Months Ended | ||
Mar. 31, 2017 | May 31, 2016 | May 31, 2014 | |
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |||
Deferred board fees percentage for stock units accumulation | 100.00% | ||
Nonqualified Incentive Stock Option Plan [Member] | |||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |||
Vesting period in years | 7 years | ||
Nonqualified Incentive Stock Option Plan [Member] | Stock Option [Member] | |||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |||
Number of shares to be issued under incentive stock option plan | 3,200,000 | ||
Shares for future grants | 215,735 | ||
Stock option plan termination date | Dec. 31, 2019 | ||
Option exercisable rate | 25.00% | ||
Option exercisable period | 4 years | ||
Options expire period | 15 years | ||
Share based compensation options exercisable period | 2,023 | ||
Vesting period in years, start | 4 years | ||
Options vest and exercisable Description | The options vest and are exercisable beginning four years from the date of grant at the rate of 25% per year for four years. Options expire at the end of fifteen years from the date of grant | ||
Nonqualified Incentive Stock Option Plan [Member] | Stock Option [Member] | Minimum [Member] | |||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |||
Stock price percentage to fair value at grant date | 100.00% | ||
Non-Employee Directors Stock Option Plan [Member] | |||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |||
Number of shares to be issued under incentive stock option plan | 260,000 | ||
Shares for future grants | 40,000 | ||
Option exercisable rate | 25.00% | ||
Option exercisable period | 1 year | ||
Options expire period | 15 years | ||
Share based compensation options exercisable period | 2,020 | ||
Options vest and exercisable Description | The options vest and are exercisable beginning one year from the date of grant at the rate of 25% per year for four years | ||
Number of options granted for non-employee director | 10,000 | ||
Vesting period in years | 4 years | ||
Non-Employee Directors Stock Option Plan [Member] | Minimum [Member] | |||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |||
Stock price percentage to fair value at grant date | 100.00% | ||
Banc First Deferred Stock Compensation Plan [Member] | |||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |||
Number of shares authorized for issuance under deferred compensation plan | 91,110 | ||
Number of shares of common stock distributed | 3,891 |
Stock-Based Compensation - Summ
Stock-Based Compensation - Summary of Activity Under Stock Option Plan (Detail) $ / shares in Units, $ in Thousands | 3 Months Ended |
Mar. 31, 2017USD ($)$ / sharesshares | |
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | |
Outstanding at beginning period - Options | shares | 707,450 |
Options exercised | shares | (76,450) |
Outstanding at ending period - Options | shares | 631,000 |
Exercisable at ending period - Options | shares | 265,625 |
Outstanding at beginning period - Wgtd. Avg. Exercise Price | $ / shares | $ 44.92 |
Options exercised - Wgtd. Avg. Exercise Price | $ / shares | 34.14 |
Outstanding at ending period - Wgtd. Avg. Exercise Price | $ / shares | 46.23 |
Exercisable at ending period - Wgtd. Avg. Exercise Price | $ / shares | $ 38.46 |
Outstanding at ending period - Wgtd. Avg. Remaining Contractual Term, years | 9 years 9 months |
Exercisable at ending period - Wgtd. Avg. Remaining Contractual Term, years | 6 years 10 months 17 days |
Outstanding at ending period - Aggregate Intrinsic Value | $ | $ 27,558 |
Exercisable at ending period - Aggregate Intrinsic Value | $ | $ 13,663 |
Stock-Based Compensation - Opti
Stock-Based Compensation - Options Granted and Options Exercised Under Stock Option Plan (Detail) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Share Based Compensation Arrangement By Share Based Payment Award Options Additional Disclosures [Abstract] | ||
Weighted average grant-date fair value per share of options granted | $ 11.47 | |
Total intrinsic value of options exercised | $ 4,613 | $ 779 |
Cash received from options exercised | 2,610 | 875 |
Tax benefit realized from options exercised | $ 1,784 | $ 301 |
Stock-Based Compensation - Stoc
Stock-Based Compensation - Stock-Based Employee Compensation Expense (Detail) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Labor And Related Expense [Abstract] | ||
Stock-based compensation expense | $ 222 | $ 451 |
Tax benefit | 71 | 174 |
Stock-based compensation expense, net of tax | $ 151 | $ 277 |
Stock-Based Compensation - Unea
Stock-Based Compensation - Unearned Stock-based Compensation Expense (Detail) $ in Thousands | Mar. 31, 2017USD ($) |
Remaining Fair Value Of Stock Options [Abstract] | |
Unearned stock-based compensation expense | $ 2,538 |
Stock-Based Compensation - Assu
Stock-Based Compensation - Assumptions Used for Computing Stock-Based Compensation Expense (Detail) | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions And Methodology [Abstract] | ||
Risk-free interest rate, minimum | 1.91% | |
Risk-free interest rate, maximum | 2.02% | |
Dividend yield | 2.00% | |
Stock price volatility, minimum | 20.41% | |
Stock price volatility, maximum | 20.64% | |
Expected term | 0 years | 10 years |
Stock - Based Compensation - Su
Stock - Based Compensation - Summary of Accumulated Stock Units (Detail) - $ / shares | Mar. 31, 2017 | Dec. 31, 2016 |
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | ||
Accumulated stock units | 67,230 | 70,022 |
Average price | $ 42.87 | $ 41.74 |
Stockholders' Equity - Addition
Stockholders' Equity - Additional Information (Detail) - USD ($) | 3 Months Ended | ||
Mar. 31, 2017 | Sep. 30, 2016 | Mar. 31, 2016 | |
Stockholders Equity [Line Items] | |||
Shares remaining to be repurchased | 150,000 | 150,000 | 66,276 |
2016 [Member] | |||
Stockholders Equity [Line Items] | |||
Implementation of the capital conservation buffer, Percentage | 0.625% | ||
Capital conservation buffer implementation phase-in period | 4 years | ||
2019 [Member] | |||
Stockholders Equity [Line Items] | |||
Capital Conservation Buffer Maximum Level | 2.50% | ||
Maximum [Member] | |||
Stockholders Equity [Line Items] | |||
Quantitative limit for trust preferred securities to be included in tier 1 capital | $ 15,000,000,000 |
Stockholders' Equity - Summary
Stockholders' Equity - Summary of Shares Repurchased Under Stock Purchase Program (Detail) - $ / shares | 3 Months Ended | ||
Mar. 31, 2016 | Mar. 31, 2017 | Sep. 30, 2016 | |
Summary Of Shares Repurchased Under Stock Purchase Program [Abstract] | |||
Number of shares repurchased | 100,000 | ||
Average price of shares repurchased | $ 55.23 | ||
Shares remaining to be repurchased | 66,276 | 150,000 | 150,000 |
Stockholders' Equity - Required
Stockholders' Equity - Required Capital Amounts and Company's Respective Ratios (Detail) $ in Thousands | Mar. 31, 2017USD ($) |
Parent Company [Member] | |
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | |
Total Capital Amount | $ 743,955 |
Total Capital To Risk Weighted Assets Actual Ratio | 15.72% |
Capital Required For Capital Adequacy Amount | $ 378,690 |
Capital Required For Capital Adequacy to Risk Weighted Assets Ratio | 8.00% |
Capital With Capital Conservation Buffer Amount | $ 437,861 |
Capital With Capital Conservation To Risk Based Weighted Assets Buffer Ratio | 9.25% |
Common Equity Tier 1 Risk Based Capital Amount | $ 665,034 |
Common Equity Tier 1 Risk Based Capital To Risk Weighted Assets Ratio | 14.05% |
Common Equity Tier 1 Risk Based Capital Required For Capital Adequacy Amount | $ 213,013 |
Common Equity Tier 1 Risk Based Capital Required For Capital Adequacy To Risk Weighted Assets Ratio | 4.50% |
Common Equity Tier 1 Risk Based Capital With Capital Conservation Buffer Amount | $ 272,184 |
Common Equity Tier 1 Risk Based Capital With Capital Conservation Buffer To Risk Weighted Assets Ratio | 5.75% |
Tier 1 Risk Based Capital Amount | $ 696,034 |
Tier 1 Risk Based Capital To Risk Weighted Assets Ratio | 14.70% |
Tier 1 Risk Based Capital Required For Capital Adequacy Amount | $ 284,018 |
Tier 1 Risk Based Capital Required For Capital Adequacy To Risk Weighted Assets Ratio | 6.00% |
Tier 1 Risk Based Capital With Capital Conservation Buffer Amount | $ 343,188 |
Tier 1 Risk Based Capital With Capital Conservation Buffer To Risk Weighted Assets Ratio | 7.25% |
Tier 1 Capital Amount | $ 696,034 |
Tier 1 Capital To Average Assets Ratio | 9.95% |
Tier 1 Capital Required For Capital Adequacy Amount | $ 279,674 |
Tier 1 Capital Required For Capital Adequacy To Average Assets Ratio | 4.00% |
BancFirst [Member] | |
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | |
Total Capital Amount | $ 668,329 |
Total Capital To Risk Weighted Assets Actual Ratio | 14.14% |
Capital Required For Capital Adequacy Amount | $ 378,252 |
Capital Required For Capital Adequacy to Risk Weighted Assets Ratio | 8.00% |
Capital With Capital Conservation Buffer Amount | $ 437,354 |
Capital With Capital Conservation To Risk Based Weighted Assets Buffer Ratio | 9.25% |
Capital Required To Be Well Capitalized Amount | $ 472,815 |
Capital Required To Be Well Capitalized To Risk Weighted Assets Ratio | 10.00% |
Common Equity Tier 1 Risk Based Capital Amount | $ 600,408 |
Common Equity Tier 1 Risk Based Capital To Risk Weighted Assets Ratio | 12.70% |
Common Equity Tier 1 Risk Based Capital Required For Capital Adequacy Amount | $ 212,767 |
Common Equity Tier 1 Risk Based Capital Required For Capital Adequacy To Risk Weighted Assets Ratio | 4.50% |
Common Equity Tier 1 Risk Based Capital With Capital Conservation Buffer Amount | $ 271,869 |
Common Equity Tier 1 Risk Based Capital With Capital Conservation Buffer To Risk Weighted Assets Ratio | 5.75% |
Common Equity Tier 1 Risk Based Capital Required To Be Well Capitalized Amount | $ 307,330 |
Common Equity Tier 1 Risk Based Capital Required To Be Well Capitalized To Risk Weighted Assets Ratio | 6.50% |
Tier 1 Risk Based Capital Amount | $ 620,408 |
Tier 1 Risk Based Capital To Risk Weighted Assets Ratio | 13.12% |
Tier 1 Risk Based Capital Required For Capital Adequacy Amount | $ 283,689 |
Tier 1 Risk Based Capital Required For Capital Adequacy To Risk Weighted Assets Ratio | 6.00% |
Tier 1 Risk Based Capital With Capital Conservation Buffer Amount | $ 342,791 |
Tier 1 Risk Based Capital With Capital Conservation Buffer To Risk Weighted Assets Ratio | 7.25% |
Tier 1 Risk Based Capital Required To Be Well Capitalized Amount | $ 378,252 |
Tier 1 Risk Based Capital Required To Be Well Capitalized To Risk Weighted Assets Ratio | 8.00% |
Tier 1 Capital Amount | $ 620,408 |
Tier 1 Capital To Average Assets Ratio | 8.88% |
Tier 1 Capital Required For Capital Adequacy Amount | $ 279,412 |
Tier 1 Capital Required For Capital Adequacy To Average Assets Ratio | 4.00% |
Tier 1 Capital Required To Be Well Capitalized Amount | $ 349,266 |
Tier 1 Capital Required To Be Well Capitalized To Average Assets Ratio | 5.00% |
Net Income Per Common Share - B
Net Income Per Common Share - Basic and Diluted Net Income Per Common Share Based on Weighted-average Shares Outstanding (Detail) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Earnings Per Share Reconciliation [Abstract] | ||
Income available to common stockholders | $ 22,050 | $ 16,579 |
Income available to common stockholders plus assumed exercises of stock options | $ 22,050 | $ 16,579 |
Income available to common stockholders - Shares | 15,864,807 | 15,534,416 |
Dilutive effect of stock options - Shares | 373,191 | 281,955 |
Income available to common stockholders plus assumed exercises of stock options - Shares | 16,237,998 | 15,816,371 |
Income available to common stockholders - Per Share Amount | $ 1.39 | $ 1.07 |
Income available to common stockholders plus assumed exercises of stock options - Per Share Amount | $ 1.36 | $ 1.05 |
Net Income Per Common Share - A
Net Income Per Common Share - Average Exercise Prices of Options Excluded from Computation of Diluted Net Income Per Common Share (Detail) | 3 Months Ended |
Mar. 31, 2016$ / sharesshares | |
Schedule Of Antidilutive Securities Excluded From Computation Of Earnings Per Share [Abstract] | |
Shares | shares | 236,451 |
Average Exercise Price | $ / shares | $ 58.59 |
Fair Value Measurements - Addit
Fair Value Measurements - Additional Information (Detail) - USD ($) | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | Dec. 31, 2016 | |
Debt Instrument Fair Value Disclosure [Abstract] | |||
Days from origination after which mortgage loan are sold | 30 days | ||
Transfer of securities between levels of fair value hierarchy | $ 0 | $ 0 | |
Amount of non-financial assets (liabilities) | 0 | $ 0 | |
Non-financial assets or liabilities for which no impairment was provided | $ 0 | $ 0 |
Fair Value Measurements - Fair
Fair Value Measurements - Fair Value of Financial Assets and Liabilities Measured on Recurring Basis (Detail) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale, at fair value | $ 459,247 | $ 465,468 |
Derivative assets | 528 | 1,569 |
Derivative liabilities | 329 | 1,306 |
Loans held for sale | 7,754 | 9,318 |
U.S. Treasuries [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale, at fair value | 289,433 | 268,543 |
U.S. Federal Agencies [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale, at fair value | 105,058 | 129,642 |
Mortgage Backed Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale, at fair value | 19,073 | 19,672 |
States and Political Subdivisions [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale, at fair value | 39,638 | 41,042 |
Other Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale, at fair value | 6,045 | 6,569 |
Level 1 Inputs [Member] | U.S. Treasuries [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale, at fair value | 289,433 | 268,543 |
Level 2 Inputs [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative assets | 528 | 1,569 |
Derivative liabilities | 329 | 1,306 |
Loans held for sale | 7,754 | 9,318 |
Level 2 Inputs [Member] | U.S. Federal Agencies [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale, at fair value | 105,058 | 129,642 |
Level 2 Inputs [Member] | Mortgage Backed Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale, at fair value | 4,464 | 4,856 |
Level 2 Inputs [Member] | States and Political Subdivisions [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale, at fair value | 39,638 | 41,042 |
Level 3 Inputs [Member] | Mortgage Backed Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale, at fair value | 14,609 | 14,816 |
Level 3 Inputs [Member] | Other Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale, at fair value | $ 6,045 | $ 6,569 |
Fair Value Measurements - Chang
Fair Value Measurements - Changes in Level 3 Assets Measured at Estimated Fair Value on Recurring Basis (Detail) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended |
Mar. 31, 2017 | Dec. 31, 2016 | |
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation Calculation Roll Forward | ||
Balance at the beginning of the year | $ 21,385 | $ 21,124 |
Purchases | 157 | 1,096 |
Settlements | (212) | (191) |
Sales | (429) | |
Losses included in earnings | (111) | |
Total unrealized losses | (676) | (104) |
Balance at the end of the period | $ 20,654 | $ 21,385 |
Fair Value Measurements - Asset
Fair Value Measurements - Assets Measured at Fair Value on Nonrecurring Basis (Detail) - Level 3 [Member] - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 |
Impaired Loans (Less Specific Allowance) [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Total Fair Value | $ 23,609 | $ 29,912 |
Repossessed Assets [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Total Fair Value | 266 | 340 |
Other Real Estate Owned [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Total Fair Value | $ 776 | $ 1,480 |
Fair Value Measurements - Estim
Fair Value Measurements - Estimated Fair Values of Company's Financial Instruments (Detail) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 | Mar. 31, 2016 | Dec. 31, 2015 |
FINANCIAL ASSETS | ||||
Cash and cash equivalents, Carrying Amount | $ 2,038,012 | $ 1,850,461 | $ 1,668,325 | $ 1,598,177 |
Securities held for investment, Carrying Amount | 4,003 | 4,365 | ||
Loans, net of allowance for loan losses, Carrying Amount | 4,342,854 | 4,351,539 | ||
Securities held for investment, Fair Value | 4,038 | 4,403 | ||
FINANCIAL LIABILITIES | ||||
Deposits, Carrying Amount | 6,394,627 | 6,248,057 | ||
Short-term borrowings, Carrying Amount | 800 | 500 | ||
Junior subordinated debentures, Carrying Amount | 31,959 | 31,959 | ||
OFF-BALANCE SHEET FINANCIAL INSTRUMENTS | ||||
Loan commitments, Fair Value | 1,749 | 1,718 | ||
Letters of credit, Fair Value | 430 | 424 | ||
Level 2 Inputs [Member] | ||||
FINANCIAL ASSETS | ||||
Cash and cash equivalents, Carrying Amount | 2,038,212 | 1,851,161 | ||
Securities held for investment, Carrying Amount | 3,503 | 3,722 | ||
Cash and cash equivalents, Fair Value | 2,038,212 | 1,851,161 | ||
Securities held for investment, Fair Value | 3,538 | 3,760 | ||
FINANCIAL LIABILITIES | ||||
Deposits, Carrying Amount | 6,394,627 | 6,248,057 | ||
Short-term borrowings, Carrying Amount | 800 | 500 | ||
Junior subordinated debentures, Carrying Amount | 31,959 | 31,959 | ||
Deposits, Fair Value | 6,462,059 | 6,313,622 | ||
Short-term borrowings, Fair Value | 800 | 500 | ||
Junior subordinated debentures, Fair Value | 36,248 | 34,339 | ||
Level 3 Inputs [Member] | ||||
FINANCIAL ASSETS | ||||
Securities held for investment, Carrying Amount | 500 | 643 | ||
Loans, net of allowance for loan losses, Carrying Amount | 4,342,854 | 4,351,539 | ||
Securities held for investment, Fair Value | 500 | 643 | ||
Loans, net of allowance for loan losses, Fair Value | $ 4,358,648 | $ 4,367,363 |
Derivative Financial Instrume66
Derivative Financial Instruments - Notional Amounts and Estimated Fair Values of Outstanding Derivative Positions (Detail) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2017 | Dec. 31, 2016 | |
Derivatives, Fair Value [Line Items] | ||
Derivative assets, Estimated Fair Value | $ 528 | $ 1,569 |
Derivative liabilities, Estimated Fair Value | (329) | (1,306) |
Other Assets [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative assets, Estimated Fair Value | 528 | 1,569 |
Other Liabilities [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative liabilities, Estimated Fair Value | $ (329) | (1,306) |
Oil [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Notional Units | Barrels | |
Derivative assets, Notional Amount | $ 63 | 83 |
Derivative assets, Estimated Fair Value | 161 | 576 |
Derivative liabilities, Notional Amount | (63) | (83) |
Derivative liabilities, Estimated Fair Value | $ (101) | (496) |
Natural Gas [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Notional Units | MMBTUs | |
Derivative assets, Notional Amount | $ 1,770 | 1,900 |
Derivative assets, Estimated Fair Value | 367 | 993 |
Derivative liabilities, Notional Amount | (1,770) | (1,900) |
Derivative liabilities, Estimated Fair Value | $ (228) | $ (810) |
Derivative Financial Instrume67
Derivative Financial Instruments - Recognized Derivative Income Included in Other Noninterest Income (Detail) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Derivative Gain Loss On Derivative Net [Abstract] | ||
Derivative income | $ 5 | $ 5 |
Derivative Financial Instrume68
Derivative Financial Instruments - Additional Information (Detail) | 3 Months Ended |
Mar. 31, 2017 | |
Derivative Instruments And Hedging Activities Disclosure [Abstract] | |
Company’s share of total profit | 35.00% |
Segment Information - Additiona
Segment Information - Additional Information (Detail) | 3 Months Ended |
Mar. 31, 2017Business_Unit | |
Segment Reporting [Abstract] | |
Number of principal business units | 4 |
Segment Information - Results o
Segment Information - Results of Operations and Selected Financial Information (Detail) - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2017 | Mar. 31, 2016 | Dec. 31, 2016 | |
Segment Reporting Information [Line Items] | |||
Net interest income (expense) | $ 54,768 | $ 49,976 | |
Noninterest income | 28,085 | 25,617 | |
Income before taxes | 33,193 | 25,199 | |
Total Assets | 7,189,637 | $ 7,018,952 | |
Operating Segments [Member] | Metropolitan Banks [Member] | |||
Segment Reporting Information [Line Items] | |||
Net interest income (expense) | 18,520 | 15,843 | |
Noninterest income | 3,822 | 3,788 | |
Income before taxes | 13,074 | 9,348 | |
Total Assets | 2,569,703 | 2,493,096 | |
Operating Segments [Member] | Community Banks [Member] | |||
Segment Reporting Information [Line Items] | |||
Net interest income (expense) | 35,123 | 33,122 | |
Noninterest income | 13,277 | 13,596 | |
Income before taxes | 22,719 | 19,094 | |
Total Assets | 4,481,943 | 4,412,174 | |
Operating Segments [Member] | Other Financial Services [Member] | |||
Segment Reporting Information [Line Items] | |||
Net interest income (expense) | 1,495 | 1,416 | |
Noninterest income | 8,310 | 7,479 | |
Income before taxes | 3,645 | 3,114 | |
Total Assets | 75,587 | 83,594 | |
Operating Segments [Member] | Executive, Operations & Support [Member] | |||
Segment Reporting Information [Line Items] | |||
Net interest income (expense) | (370) | (405) | |
Noninterest income | 24,472 | 17,678 | |
Income before taxes | 15,511 | 10,500 | |
Total Assets | 854,316 | 803,810 | |
Eliminations [Member] | |||
Segment Reporting Information [Line Items] | |||
Noninterest income | (21,796) | (16,924) | |
Income before taxes | (21,756) | $ (16,857) | |
Total Assets | $ (791,912) | $ (773,722) |