Document And Entity Information
Document And Entity Information - USD ($) | 12 Months Ended | ||
Dec. 31, 2018 | Feb. 19, 2019 | Jun. 30, 2018 | |
Entity Registrant Name | FIRST CITIZENS BANCSHARES INC /DE/ | ||
Entity Central Index Key | 798,941 | ||
Current Fiscal Year End Date | --12-31 | ||
Entity Filer Category | Large Accelerated Filer | ||
Document Type | 10-K | ||
Document Period End Date | Dec. 31, 2018 | ||
Document Fiscal Year Focus | 2,018 | ||
Document Fiscal Period Focus | FY | ||
Amendment Flag | false | ||
Entity Emerging Growth Company | false | ||
Entity Small Business | false | ||
Entity Shell Company | false | ||
Entity Well-known Seasoned Issuer | Yes | ||
Entity Voluntary Filers | No | ||
Entity Current Reporting Status | Yes | ||
Entity Public Float | $ 3,012,571,741 | ||
Class A Common Stock | |||
Entity Common Stock, Shares Outstanding | 10,524,720 | ||
Class B Common Stock | |||
Entity Common Stock, Shares Outstanding | 1,005,185 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
Assets | ||
Cash and due from banks | $ 327,440 | $ 336,150 |
Overnight investments | 797,406 | 1,387,927 |
Investment in marketable equity securities (cost of $73,809 at December 31, 2018) | 92,599 | 0 |
Investment securities available for sale | 4,557,110 | 7,180,180 |
Investment securities held to maturity | 2,184,653 | 76 |
Loans held for sale | 45,505 | 51,179 |
Loans and Leases | 25,523,276 | 23,596,825 |
Less allowance for loan and lease losses | (223,712) | (221,893) |
Net Loans and Leases | 25,299,564 | 23,374,932 |
Premises and equipment | 1,204,179 | 1,138,431 |
Other Real Estate | 48,030 | 51,097 |
Income earned not collected | 109,903 | 95,249 |
Goodwill recorded for Palmetto Heritage | 236,347 | 150,601 |
Intangible Assets, Net (Excluding Goodwill) | 72,298 | 73,096 |
Other assets | 433,595 | 688,594 |
Total assets | 35,408,629 | 34,527,512 |
Deposits [Abstract] | ||
Noninterest-bearing | 11,882,670 | 11,237,375 |
Interest-bearing | 18,789,790 | 18,028,900 |
Total deposits | 30,672,460 | 29,266,275 |
Debt, Current | 572,287 | 693,807 |
Long-term obligations | 319,867 | 870,240 |
FDIC shared-loss payable | 105,618 | 101,342 |
Other liabilities | 249,443 | 261,784 |
Total liabilities | 31,919,675 | 31,193,448 |
Shareholders' Equity | ||
Preferred stock - $0.01 par value (10,000,000 shares authorized; no shares issued and outstanding at December 31, 2018 and December 31, 2017) | 0 | 0 |
Surplus | 493,962 | 658,918 |
Retained earnings | 3,218,551 | 2,785,430 |
Accumulated other comprehensive loss | (235,187) | (122,294) |
Total shareholders' equity | 3,488,954 | 3,334,064 |
Total liabilities and shareholders' equity | 35,408,629 | 34,527,512 |
Class A Common Stock | ||
Shareholders' Equity | ||
Common stock | 10,623 | 11,005 |
Class B Common Stock | ||
Shareholders' Equity | ||
Common stock | $ 1,005 | $ 1,005 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
Preferred Stock, Par or Stated Value Per Share | $ 0.01 | $ 0.01 |
Preferred Stock, Shares Authorized | 10,000,000 | 10,000,000 |
Preferred Stock, Shares Issued | 0 | 0 |
Preferred Stock, Shares Outstanding | 0 | 0 |
Total investment securities available for sale, cost | $ 4,607,117 | $ 7,229,014 |
Marketable equity securities (cost) | $ 73,809 | $ 0 |
Class A Common Stock | ||
Common stock, par value (in dollars per share) | $ 1 | $ 1 |
Common stock, shared authorized | 16,000,000 | 16,000,000 |
Common stock, shares issued | 10,623,220 | 11,005,220 |
Common stock, shares outstanding | 10,623,220 | 11,005,220 |
Class B Common Stock | ||
Common stock, par value (in dollars per share) | $ 1 | $ 1 |
Common stock, shared authorized | 2,000,000 | 2,000,000 |
Common stock, shares issued | 1,005,185 | 1,005,185 |
Common stock, shares outstanding | 1,005,185 | 1,005,185 |
Mortgage Backed Securities | ||
Debt Securities, Held-to-maturity, Fair Value | $ 2,201,502 | $ 81 |
Total investment securities available for sale, cost | $ 2,956,793 | $ 5,419,379 |
Consolidated Statements of Inco
Consolidated Statements of Income - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Interest income | |||
Loans and leases | $ 1,073,051 | $ 955,637 | $ 876,472 |
Total investment securities interest and dividend income | 150,709 | 121,207 | 96,751 |
Overnight investments | 21,997 | 26,846 | 14,534 |
Total interest income | 1,245,757 | 1,103,690 | 987,757 |
Interest expense | |||
Deposits | 22,483 | 16,196 | 18,169 |
Short-term borrowings | 3,657 | 4,838 | 1,965 |
Long-term obligations | 10,717 | 22,760 | 22,948 |
Total interest expense | 36,857 | 43,794 | 43,082 |
Net interest income (loss) | 1,208,900 | 1,059,896 | 944,675 |
Provision for loan and lease losses | 28,468 | 25,692 | 32,941 |
Net interest income after provision for loan and lease losses | 1,180,432 | 1,034,204 | 911,734 |
Noninterest income | |||
Gain on extinguishment of debt | 26,553 | 12,483 | 0 |
ATM income | 16,433 | 23,251 | 20,348 |
Insurance commissions | 12,702 | 12,465 | 11,150 |
Gain on acquisitions | 0 | 134,745 | 5,831 |
ATM income | 7,980 | 9,143 | 7,283 |
Securities gains (losses) | 351 | 4,293 | 26,673 |
Net impact from FDIC shared-loss termination | 0 | (45) | 16,559 |
Adjustments to FDIC receivable | (6,341) | (6,232) | (9,725) |
Marketable equity securities losses, net | (7,610) | 0 | 0 |
Other | 26,041 | 35,358 | 34,170 |
Total noninterest income | 400,149 | 521,963 | 377,099 |
Noninterest expense | |||
Salaries and wages | 527,691 | 490,610 | 443,746 |
Employee benefits | 118,203 | 105,975 | 94,340 |
Occupancy expense | 109,169 | 104,690 | 102,609 |
Equipment expense | 102,909 | 97,478 | 92,501 |
Processing Fees Paid to Third Parties | 30,017 | 25,673 | 18,976 |
FDIC insurance expense | 18,890 | 22,191 | 20,967 |
Foreclosure-related expenses | 16,567 | 14,407 | 13,379 |
Merger-related expenses | 6,462 | 9,015 | 5,341 |
Other | 147,063 | 142,430 | 145,907 |
Total noninterest expense | 1,076,971 | 1,012,469 | 937,766 |
Income before income taxes | 503,610 | 543,698 | 351,067 |
Income taxes | 103,297 | 219,946 | 125,585 |
Net income | $ 400,313 | $ 323,752 | $ 225,482 |
Net income per share | $ 33.53 | $ 26.96 | $ 18.77 |
Cash dividends (in dollars per share) | $ 1.45 | $ 1.25 | $ 1.20 |
Average shares outstanding (in shares) | 11,938,439 | 12,010,405 | 12,010,405 |
Service charges on deposit accounts | |||
Noninterest income | |||
Revenue from contracts with customers | $ 105,486 | $ 101,201 | $ 89,359 |
Wealth management services | |||
Noninterest income | |||
Revenue from contracts with customers | 97,966 | 86,719 | 80,221 |
Cardholder services, net | |||
Noninterest income | |||
Revenue from contracts with customers | 65,478 | 57,583 | 47,319 |
Other service charges and fees | |||
Noninterest income | |||
Revenue from contracts with customers | 30,606 | 28,321 | 27,011 |
Merchant services, net | |||
Noninterest income | |||
Revenue from contracts with customers | $ 24,504 | $ 22,678 | $ 20,900 |
Consolidated Statement of Compr
Consolidated Statement of Comprehensive Income - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Statement of Comprehensive Income [Abstract] | |||
Net income | $ 400,313 | $ 323,752 | $ 225,482 |
Unrealized gains (losses) on securities available for sale: | |||
Change in unrealized gains (losses) on securities available for sale arising during period | 29,170 | 28,166 | (21,530) |
Tax effect | (6,709) | (10,531) | 7,584 |
Reclassification adjustment for gains included in income before income taxes | (351) | (4,293) | (26,673) |
Tax effect | 81 | 1,588 | 9,869 |
Total change in unrealized gains (losses) on securities available for sale, net of tax | 22,191 | 14,930 | (30,750) |
Unrealized losses on securities available for sale transferred to held to maturity [Abstract] | |||
Unrealized losses on securities available for sale transferred to held to maturity | (109,507) | 0 | 0 |
Tax effect | 25,186 | 0 | 0 |
Reclassification adjustment for accretion of unrealized losses on securities available for sale transferred to held to maturity | 17,106 | 0 | 0 |
Tax effect | (3,934) | 0 | 0 |
Total change in unrealized losses on securities available for sale transferred to held to maturity, net of tax | (71,149) | 0 | 0 |
Change in fair value of cash flow hedges: | |||
Change in unrecognized loss on cash flow hedges | 0 | 0 | 1,429 |
Tax effect | 0 | 0 | (537) |
Total change in unrecognized loss on cash flow hedges, net of tax | 0 | 0 | 892 |
Change in pension obligation: | |||
Increase in pension obligation | (32,012) | (12,945) | (70,424) |
Tax effect | 7,363 | 4,789 | 25,077 |
Amortization of actuarial losses and prior service cost | 13,981 | 9,720 | 7,069 |
Tax effect | (3,216) | (3,596) | (2,616) |
Total change in pension obligation, net of tax | (13,884) | (2,032) | (40,894) |
Net current period other comprehensive income (loss) | (62,842) | 12,898 | (70,752) |
Total comprehensive income | $ 337,471 | $ 336,650 | $ 154,730 |
Consolidated Statements of Chan
Consolidated Statements of Changes In Shareholders' Equity - USD ($) $ in Thousands | Total | Class A Common Stock | Common Stock | Common StockClass A Common Stock | Common StockClass B Common Stock | Surplus | SurplusClass A Common Stock | Retained Earnings | Retained EarningsClass A Common Stock | Accumulated Other Comprehensive Loss | Accumulated Other Comprehensive LossClass A Common Stock |
Beginning balance at Dec. 31, 2015 | $ 2,872,109 | $ 11,005 | $ 1,005 | $ 658,918 | $ 2,265,621 | $ (64,440) | |||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||||||
Net income | 225,482 | 0 | 0 | 0 | 225,482 | 0 | |||||
Net current period other comprehensive income | (70,752) | 0 | 0 | 0 | 0 | (70,752) | |||||
Cash dividends | (14,412) | 0 | 0 | 0 | (14,412) | 0 | |||||
Ending balance at Dec. 31, 2016 | 3,012,427 | 11,005 | 1,005 | 658,918 | 2,476,691 | (135,192) | |||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||||||
Net income | 323,752 | 0 | 0 | 0 | 323,752 | 0 | |||||
Net current period other comprehensive income | 12,898 | 0 | 0 | 0 | 0 | 12,898 | |||||
Cash dividends | (15,013) | 0 | 0 | 0 | (15,013) | 0 | |||||
Ending balance at Dec. 31, 2017 | 3,334,064 | 11,005 | 1,005 | 658,918 | 2,785,430 | (122,294) | |||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||||||
Net income | 400,313 | 0 | 0 | 0 | 400,313 | 0 | |||||
Net current period other comprehensive income | (62,842) | 0 | 0 | 0 | 0 | (62,842) | |||||
Repurchase and retirement of common stock | $ 165,338 | $ 0 | 382 | $ 164,956 | $ 0 | $ 0 | |||||
Cash dividends | (17,243) | 0 | 0 | 0 | (17,243) | 0 | |||||
Ending balance at Dec. 31, 2018 | $ 3,488,954 | $ 10,623 | $ 1,005 | $ 493,962 | $ 3,218,551 | $ (235,187) |
Consolidated Statements of Ch_2
Consolidated Statements of Changes In Shareholders' Equity (Parenthetical) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Statement of Stockholders' Equity [Abstract] | ||
Cash dividends (in dollars per share) | $ 1.45 | $ 1.25 |
Stock issuance costs | $ 0 | $ 0 |
Class A Common Stock | ||
Statement of Stockholders' Equity [Abstract] | ||
Stock Repurchased During Period, Shares | 382,000 | 0 |
Class B Common Stock | ||
Statement of Stockholders' Equity [Abstract] | ||
Stock Repurchased and Retired During Period, Shares | 0 | 0 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
OPERATING ACTIVITIES | |||
Net income | $ 400,313 | $ 323,752 | $ 225,482 |
Adjustments to reconcile net income to cash provided by operating activities: | |||
Provision for loan and lease losses | 28,468 | 25,692 | 32,941 |
Deferred tax expense (benefit) | (13,377) | 125,838 | 33,146 |
Change in current taxes payable | 23,353 | (10,616) | (24,380) |
Depreciation | 96,781 | 90,804 | 88,777 |
Change in accrued interest payable | (240) | 155 | (1,916) |
Change in income earned not collected | (10,785) | (8,899) | (7,805) |
Gain on acquisitions | 0 | (134,745) | (5,831) |
Securities losses (gains) | (351) | (4,293) | (26,673) |
Marketable equity securities losses, net | 7,610 | 0 | 0 |
Gain (Loss) on Contract Termination | 0 | 45 | 3,377 |
Origination of loans held for sale | (593,307) | (622,503) | (795,963) |
Proceeds from sale of loans held for sale | 608,549 | 660,808 | 797,123 |
Gain on sale of loans | (11,210) | (14,843) | (15,795) |
Gain (Loss) on Sale of Loans and Leases | 0 | (1,007) | (3,758) |
Loss on sale of other real estate | 4,390 | 4,460 | 6,201 |
Gain (Loss) on Disposition of Property Plant Equipment | 2,452 | (524) | 0 |
Gain on extinguishment of debt | (26,553) | (919) | (1,717) |
Net amortization of premiums and discounts | (36,567) | (40,028) | (44,618) |
Amortization of intangible assets | 23,648 | 22,842 | 21,808 |
FDIC payable for loss share agreements | 4,276 | 4,334 | (11,245) |
Originations of mortgage servicing rights | (5,258) | (7,178) | (5,931) |
Net change in other assets | 304,503 | (31,978) | (7,197) |
Net change in other liabilities | (40,895) | (25,939) | (25,520) |
Net cash provided by operating activities | 765,800 | 355,258 | 230,506 |
INVESTING ACTIVITIES | |||
Net change in loans outstanding | (1,023,885) | (1,213,686) | (1,214,433) |
Purchases of investment securities available for sale | (1,451,287) | (3,648,312) | (4,086,855) |
Purchases of investment securities held to maturity | (97,827) | 0 | 0 |
Purchases of marketable equity securities | (2,818) | 0 | 0 |
Proceeds from maturities of investment securities held to maturity | 296,632 | 22 | 157 |
Proceeds from maturities of investment securities available for sale | 1,564,730 | 1,842,563 | 2,149,130 |
Proceeds from sales of investment securities available for sale | 151,754 | 1,345,746 | 1,829,305 |
Proceeds from sales of marketable equity securities | 9,528 | 0 | 0 |
Net change in overnight investments | 601,979 | 586,279 | 233,433 |
Cash (paid to) received from the FDIC for loss share agreements | (3,567) | (7,440) | (21,059) |
Net Payment to the FDIC for Termination of Loss Share Agreements | 0 | (285) | (20,115) |
Proceeds from Sale of Other Real Estate | 28,128 | 40,709 | 34,944 |
Proceeds from Sale of Property, Plant, and Equipment | 1,721 | 3,061 | 0 |
Proceeds from sale of portfolio loans | 9,591 | 162,649 | 77,665 |
Additions to premises and equipment | (140,444) | (84,798) | (81,841) |
Business acquisitions, net of cash acquired | (155,126) | 304,820 | (727) |
Net cash (used) provided by investing activities | (210,891) | (668,672) | (1,100,396) |
FINANCING ACTIVITIES | |||
Net change in time deposits | 33,023 | (538,250) | (505,548) |
Net change in demand and other interest-bearing deposits | 457,196 | 539,120 | 1,287,856 |
Net decrease in short-term borrowings | (246,517) | (44,680) | (33,072) |
Repayment of long-term obligations | (752,447) | (6,955) | (9,279) |
Origination of long-term obligations | 125,000 | 175,000 | 150,000 |
Repurchase of common stock | (163,095) | 0 | 0 |
Cash dividends paid | (16,779) | (14,412) | (14,412) |
Net cash provided (used) by financing activities | (563,619) | 109,823 | 875,545 |
Change in cash and due from banks | (8,710) | (203,591) | 5,655 |
Cash and due from banks at beginning of period | 336,150 | 539,741 | 534,086 |
Cash and due from banks at end of period | 327,440 | 336,150 | 539,741 |
CASH PAYMENTS FOR: | |||
Interest | 37,097 | 43,639 | 44,998 |
Income taxes | 73,806 | 88,565 | 108,741 |
SUPPLEMENTAL DISCLOSURE OF NONCASH INVESTING AND FINANCING ACTIVITIES: | |||
Transfers of loans to other real estate | 23,375 | 34,980 | 35,272 |
Dividends declared but not paid | 4,668 | 4,204 | 0 |
Reclassification of portfolio loans (from) to loans held for sale | (2,433) | 161,719 | 73,907 |
Transfer of investment securities available for sale to held to maturity | 2,485,761 | 0 | 0 |
Transfer of investment securities available for sale to marketable equity securities | 107,578 | 0 | 0 |
Premises and equipment acquired through capital leases and other financing arrangements | 12,196 | 5,327 | 0 |
Transfers of premises and equipment to other real estate | 1,622 | 0 | 0 |
Unsettled sales of investment securities | 0 | 309,623 | 0 |
Unsettled common stock repurchases | $ (2,243) | $ 0 | $ 0 |
Accounting Policies and Basis o
Accounting Policies and Basis of Presentation | 12 Months Ended |
Dec. 31, 2018 | |
Accounting Policies [Abstract] | |
Accounting Policies and Basis of Presentation | ACCOUNTING POLICIES AND BASIS OF PRESENTATION Nature of Operations First Citizens BancShares, Inc. ("BancShares," "we," "us," "our" or "the Bank") is a financial holding company organized under the laws of Delaware and conducts operations through its banking subsidiary, First-Citizens Bank & Trust Company ("FCB"), which is headquartered in Raleigh, North Carolina. BancShares and its subsidiaries operate 551 branches in 19 states predominantly located in the Midwest, Southeast, and Southwest regions of the United States. BancShares seeks to meet the financial needs of individuals and commercial entities in its market areas through a wide range of retail and commercial banking services. Loan services include various types of commercial, business and consumer lending. Deposit services include checking, savings, money market and time deposit accounts. First Citizens Wealth Management provides holistic, goals-based advisory services encompassing a broad range of client deliverables. These deliverables include wealth planning, discretionary investment advisory services, insurance, brokerage, defined benefit and defined contribution services, private banking, trust, fiduciary, philanthropy and special asset services. Principles of Consolidation and Basis of Presentation The accounting and reporting policies of BancShares and its subsidiaries are in accordance with accounting principles generally accepted in the United States of America (GAAP) and general practices within the banking industry. The consolidated financial statements of BancShares include the accounts of BancShares and its subsidiaries, certain partnership interests and variable interest entities. All significant intercompany accounts and transactions are eliminated upon consolidation. BancShares operates with centralized management and combined reporting; thus, BancShares operates as one consolidated reportable segment. Variable interest entities (VIEs) are legal entities that either do not have sufficient equity to finance their activities without the support from other parties or whose equity investors lack a controlling financial interest. FCB has investments in certain partnerships and limited liability entities that have been evaluated and determined to be VIEs. Consolidation of a VIE is appropriate if a reporting entity holds a controlling financial interest in the VIE and is the primary beneficiary. FCB is not the primary beneficiary and does not hold a controlling interest in the VIEs as it does not have the power to direct the activities that most significantly impact the VIEs economic performance. As such, assets and liabilities of these entities are not consolidated into the financial statements of BancShares. The recorded investment in these entities is reported within other assets in the Consolidated Balance Sheets. Reclassifications In certain instances, amounts reported in prior years' consolidated financial statements have been reclassified to conform to the current financial statement presentation. Such reclassifications had no effect on previously reported cash flows, shareholders' equity or net income. Use of Estimates in the Preparation of Financial Statements The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported. Actual results could differ from those estimates. The estimates that BancShares considers significant are the allowance for loan and lease losses, fair value measurements, FDIC shared-loss payable, pension plan assumptions, goodwill and other intangible assets and income taxes. Business Combinations BancShares accounts for all business combinations using the acquisition method of accounting. Under this method of accounting, acquired assets and assumed liabilities are included with the acquirer's accounts as of the date of acquisition, with any excess of purchase price over the fair value of the net assets acquired recognized as either finite lived intangibles or capitalized as goodwill. In addition, acquisition related costs and restructuring costs are recognized as period expenses as incurred. See Note B for additional information regarding business combinations. Cash and Cash Equivalents Cash and cash equivalents include cash and due from banks, interest-bearing deposits with banks and federal funds sold. Cash and cash equivalents have initial maturities of three months or less. The carrying value of cash and cash equivalents approximates its fair value due to its short-term nature. Debt Securities BancShares classifies debt securities as held to maturity or available for sale. Debt securities are classified as held to maturity when BancShares has the intent and ability to hold the securities to maturity and are reported at amortized cost. Other debt securities are classified as available for sale and reported at estimated fair value, with unrealized gains and losses, net of income taxes, reported in Accumulated Other Comprehensive Income (AOCI). Amortization of premiums and accretion of discounts for debt securities are included in interest income. Realized gains and losses from the sale of debt securities are determined by specific identification on a trade date basis and are included in noninterest income. BancShares evaluates each held to maturity and available for sale security in a loss position for other-than-temporary impairment (OTTI) at least quarterly. BancShares considers such factors as the length of time and the extent to which the market value has been below amortized cost, long-term expectations and recent experience regarding principal and interest payments, BancShares' intent to sell, and whether it is more likely than not that it would be required to sell those securities before the anticipated recovery of the amortized cost. The credit component of an OTTI loss is recognized in earnings and the non-credit component is recognized in AOCI in situations where BancShares does not intend to sell the security, and it is more likely than not that BancShares will not be required to sell the security prior to recovery. Equity Securities Equity securities are recorded on a trade date basis and measured at fair value. Realized and unrealized gains and losses are determined by specific identification and are included in noninterest income. Non-marketable equity securities are securities that do not have readily determinable fair values and are measured at cost. BancShares evaluates its non-marketable equity securities for impairment and recoverability of the recorded investment by considering positive and negative evidence, including the profitability and asset quality of the issuer, dividend payment history and recent redemption experience. Impairment is assessed at each reporting period and if identified, is recognized in noninterest income. Non-marketable equity securities are recorded within other assets in the Consolidated Balance Sheets. Other Securities Membership in the Federal Home Loan Bank ("FHLB") network requires ownership of FHLB restricted stock. This stock is restricted in that it may only be sold to the FHLB and all sales must be at par. Accordingly, the FHLB restricted stock is carried at cost, less any applicable impairment charges and is recorded within other assets in the Consolidated Balance Sheets. FHLB restricted stock was $25.3 million and $52.7 million at December 31, 2018 and 2017 , respectively. Investments in Qualified Affordable Housing Projects BancShares and FCB have investments in qualified affordable housing projects primarily for the purposes of fulfilling Community Reinvestment Act requirements and obtaining tax credits. These investments are accounted for using the proportional amortization method if certain conditions are met. Under the proportional amortization method, the initial cost of the investment is amortized in proportion to the tax credits and other tax benefits received, and the net investment performance is recognized in the income statement as a component of income tax expense. All of the investments held in qualified affordable housing projects qualify for the proportional amortization method and totaled $147.3 million and $128.0 million at December 31, 2018 and December 31, 2017 , respectively, and are included in other assets in the Consolidated Balance Sheets. Loans Held For Sale BancShares elected to apply the fair value option for new originations of prime residential mortgage loans to be sold. Gains and losses on sales of mortgage loans are recognized within mortgage income. Origination fees collected and costs incurred are deferred and recorded in mortgage income in the period the corresponding loans are sold. Loans and Leases BancShares' accounting methods for loans and leases depends on whether they are originated or purchased, and if purchased, whether or not the loans reflect credit deterioration at the date of acquisition. Non-Purchased Credit Impaired (Non-PCI) Loans Non-PCI loans consist of loans originated by Bancshares or loans purchased from other institutions that do not reflect credit deterioration at acquisition. Originated loans for which management has the intent and ability to hold for the foreseeable future are classified as held for investment and carried at the principal amount outstanding net of any unearned income, charge-offs and unamortized fees and costs. Nonrefundable fees collected and certain direct costs incurred related to loan originations are deferred and recorded as an adjustment to loans outstanding. The net amount of the nonrefundable fees and costs is amortized to interest income over the contractual lives using methods that approximate a constant yield. Purchased non-credit impaired loans are acquired loans that do not reflect credit deterioration at acquisition. These loans are recorded at fair value at the date of acquisition. The difference between the fair value and the unpaid principal balance at the acquisition date is amortized or accreted to interest income over the contractual life of the loan using the effective interest method. Purchased Credit Impaired (PCI) Loans Purchased loans which reflect credit deterioration since origination such that it is probable at acquisition that BancShares will be unable to collect all contractually required payments are classified as PCI loans. PCI loans are recorded at fair value at the date of acquisition. If the timing and amount of the future cash flows can be reasonably estimated, any excess of cash flows expected at acquisition over the estimated fair value are recognized as interest income over the life of the loans using the effective yield method. Subsequent to the acquisition date, increases in cash flows over those expected at the acquisition date are recognized prospectively as interest income. Decreases in expected cash flows due to credit deterioration are recognized by recording an allowance for loan losses. In the event of prepayment, the remaining unamortized amount is recognized in interest income. To the extent possible, PCI loans are aggregated into pools based upon common risk characteristics and each pool is accounted for as a single unit. The performance of all loans within the BancShares portfolio is subject to a number of external risks, including changes in the overall health of the economy, declines in real estate values, changes in the demand for products and services and personal events, such as death, disability or change in marital status. Bancshares evaluates and reports its non-PCI and PCI loan portfolios separately, and each portfolio is further divided into commercial and non-commercial segments based on the type of borrower, purpose, collateral and/or our underlying credit management processes. Additionally, commercial and non-commercial loans are assigned to loan classes, which further disaggregate the loan portfolio. Non-PCI Commercial Loans & Leases Non-PCI commercial loans (excluding purchased non-impaired loans and certain purchased revolving credit) are underwritten based primarily upon the customer's ability to generate the required cash flow to service the debt in accordance with the contractual terms and conditions of the loan agreement. Additionally, an understanding of the borrower's business, including the experience and background of the principals is obtained prior to approval. To the extent the loan is secured by collateral, the likely value of the collateral and what level of strength the collateral brings to the transaction is also evaluated. If the principals or other parties provide personal guarantees, the relative financial strength and liquidity of each guarantor is also assessed. Acquired non-PCI commercial loans are evaluated using comparable methods and procedures as those originated by BancShares. Construction and land development - Construction and land development consists of loans to finance land for development of commercial or residential real property and construction of multifamily apartments or other commercial properties. These loans are highly dependent on the supply and demand for commercial real estate as well as the demand for newly constructed residential homes and lots acquired for development. Deterioration in demand could result in decreased collateral values, which could make repayments of outstanding loans difficult for customers. Commercial mortgage - Commercial mortgage consists of loans to purchase or refinance owner-occupied or investment nonresidential properties. Commercial mortgages secured by owner-occupied properties are primarily dependent on the ability of borrowers to achieve business results consistent with those projected at loan origination. Failure to achieve these projections presents risk that the borrower will be unable to service the debt consistent with the contractual terms of the loan. Commercial mortgages secured by investment properties include office buildings and other facilities that are rented or leased to unrelated parties. The primary risk associated with income producing commercial mortgage loans is the ability of the income-producing property that collateralizes the loan to produce adequate cash flow to service the debt. While these loans and leases are collateralized by real property in an effort to mitigate risk, it is possible that the liquidation of collateral will not fully satisfy the obligation. Other commercial real estate - Other commercial real estate consists of loans secured by farmland (including residential farms and other improvements) and multifamily (five or more) residential properties. The performance of agricultural loans is highly dependent on favorable weather, reasonable costs for seed and fertilizer and the ability to successfully market the product at a profitable margin. The demand for these products is also dependent on macroeconomic conditions that are beyond the control of the borrower. The primary risk associated with multifamily loans is the ability of the income-producing property that collateralizes the loan to produce adequate cash flow to service the debt. High unemployment or generally weak economic conditions may result in borrowers having to provide rental rate concessions to achieve adequate occupancy rates. Commercial and industrial and lease financing - Commercial and industrial and lease financing consists of loans or lines of credit to finance accounts receivable, inventory or other general business needs, business credit cards, and lease financing agreements for equipment, vehicles, or other assets. The primary risk associated with commercial and industrial and lease financing loans is the ability of borrowers to achieve business results consistent with those projected at origination. Failure to achieve these projections presents risk that the borrower will be unable to service the debt consistent with the contractual terms of the loan or lease. Other - Other consists of all other commercial loans not classified in one of the preceding classes. These typically include loans to nonprofit organizations such as churches, hospitals, educational and charitable organizations, and certain loans repurchased with government guarantees. Non-PCI Noncommercial Loans & Leases Non-PCI noncommercial loans (excluding purchased non-impaired loans and certain purchased revolving credit) are centrally underwritten using automated credit scoring and analysis tools. These credit scoring tools take into account factors such as payment history, credit utilization, length of credit history, types of credit currently in use and recent credit inquiries. To the extent that the loan is secured by collateral, the likely value of that collateral is evaluated. Acquired non-PCI noncommercial loans are evaluated using comparable methods and procedures as those originated by BancShares. Residential mortgage - Residential real estate consists of loans to purchase, or refinance the borrower's primary dwelling, second residence or vacation home and are often secured by 1-4 family residential property. Significant and rapid declines in real estate values can result in borrowers having debt levels in excess of the current market value of the collateral. Revolving mortgage - Revolving mortgage consists of home equity lines of credit that are secured by first or second liens on the borrower's primary residence. These loans are often secured by second liens on the residential real estate and are particularly susceptible to declining collateral values as a substantial decline in value could render a second lien position effectively unsecured. Construction and land development - Construction and land development consists of loans to construct a borrower's primary or secondary residence or vacant land upon which the owner intends to construct a dwelling at a future date. These loans are typically secured by undeveloped or partially developed land in anticipation of completing construction of a 1-4 family residential property. There is risk that these construction and development projects can experience delays and cost overruns that exceed the borrower’s financial ability to complete the project. Such cost overruns can result in foreclosure of partially completed and unmarketable collateral. Consumer - Consumer loans consist of installment loans to finance purchases of vehicles, unsecured home improvements, student loans and revolving lines of credit that can be secured or unsecured, including personal credit cards. The value of the underlying collateral within this class is at risk of potential rapid depreciation which could result in unpaid balances in excess of the collateral. PCI Loans The segments and classes utilized to evaluate and report PCI loans is consistent with that of non-PCI loans. PCI loans were underwritten by other institutions, often with different lending standards and methods; however, the underwriting risks are generally consistent with the risks identified for non-PCI loans. Additionally, in some cases, collateral for PCI loans may be located in regions that previously experienced deterioration in real estate values and the underlying collateral may therefore not support full repayment of these loans. Nonperforming Assets and Troubled Debt Restructurings Non-performing Assets (NPAs) NPAs include nonaccrual loans and foreclosed property. Foreclosed property consists of real estate and other assets acquired as a result of loan defaults and is discussed below. All loans are classified as past due when the payment of principal and interest based upon contractual terms is greater than 30 days delinquent. Non-PCI loans are generally placed on nonaccrual when principal or interest becomes 90 days past due or when it is probable that principal or interest is not fully collectible. When non-PCI loans are placed on nonaccrual, all previously uncollected accrued interest is reversed from interest income and the ongoing accrual of interest is discontinued. All payments received thereafter are applied as a reduction of the remaining principal balance as long as doubt exists as to the ultimate collection of the principal. Non-PCI loans and leases are generally removed from nonaccrual status when they become current for a sustained period of time and there is no longer concern as to the collectability of principal and interest. Accretion of income for PCI loans is discontinued when we are unable to estimate the amount or timing of cash flows. PCI loans may begin or resume accretion of income when information becomes available that allows us to estimate the amount and timing of future cash flows. The majority of PCI loans are pooled for accounting purposes and therefore, the NPA status is determined based upon the aggregate performance of the pool. Troubled Debt Restructurings (TDRs) A loan is considered a TDR when both of the following occur: (1) a modification to a borrower's debt agreement is made and (2) a concession is granted for economic or legal reasons related to a borrower's financial difficulties that otherwise would not be granted. TDR concessions could include short term deferrals of interest, modifications of payment terms, or (in certain limited instances) forgiveness of principal or interest. Loans that have been restructured as a TDR are treated and reported as such for the remaining life of the loan. Modifications of pooled PCI loans are not designated as TDRs, whereas modifications of non-pooled PCI loans are designated as TDRs in the same manner as non-PCI loans. TDR loans can be nonaccrual or accrual, depending on the individual facts and circumstances of the borrower. In circumstances where a portion of the loan balance is charged-off, the remaining balance is typically classified as nonaccrual. Allowance for Loan and Lease Losses (ALLL) The ALLL represents management's best estimate of inherent credit losses within the loan and lease portfolio at the balance sheet date. Management determines the ALLL based on an ongoing evaluation of the loan portfolio. Estimates for loan losses are determined by analyzing quantitative and qualitative components, such as: economic conditions, historical loan losses, historical loan migration to charge-off experience, current trends in delinquencies and charge-offs, expected cash flows on PCI loans, current assessment of impaired loans, and changes in the size, composition and/or risk within the loan portfolio. Adjustments to the ALLL are recorded with a corresponding entry to provision for loan and lease losses. Loan balances considered uncollectible are charged-off against the ALLL. Recoveries of amounts previously charged-off are generally credited to the ALLL. A primary component of determining the allowance on non-PCI loans collectively evaluated is the actual loss history of the various loan classes. Loan loss factors are based on historical experience and may be adjusted for significant factors, that in management's judgment, affect the collectability of principal and interest at the balance sheet date. In accordance with our allowance methodology, loan loss factors are monitored quarterly and may be adjusted based on changes in the level of historical net charge-offs and updates by management, such as the number of periods included in the calculation of loss factors, loss severity, loss emergence period and portfolio attrition. For the non-PCI commercial segment, management incorporates historical net loss data to develop the applicable loan loss factors. General reserves for collective impairment are based on incurred loss estimates for the loan class based on average loss rates by credit quality indicators, which are estimated using historical loss experience and credit risk rating migrations. Credit quality indicators include borrower classification codes and facility risk ratings. Incurred loss estimates may be adjusted through a qualitative assessment to reflect current economic conditions and portfolio trends including credit quality, concentrations, aging of the portfolio and significant policy and underwriting changes. For the non-PCI noncommercial segment, management incorporates specific loan class and delinquency status trends into the loan loss factors. General reserve estimates of incurred losses are based on historical loss experience and the migration of loans through the various delinquency pools applied to the current risk mix. Non-PCI loans are considered to be impaired when, based on current information and events, it is probable that a borrower will be unable to pay all amounts due according to the contractual terms of the loan agreement. Generally, management considers the following loans to be impaired: all TDR loans and all loan relationships which are on nonaccrual or 90+ days past due and greater than $500,000. Non-PCI impaired loans greater than $500,000 are evaluated individually for impairment while others are evaluated collectively. The impairment assessment and determination of the related specific reserve for each impaired loan is based on the loan's characteristics. Impairment measurement for loans that are dependent on borrower cash flow for repayment is based on the present value of expected cash flows discounted at the interest rate implicit in the original loan agreement. Impairment measurement for most real estate loans, particularly when a loan is considered to be a probable foreclosure, is based on the fair value of the underlying collateral. Collateral is appraised and market value (appropriately adjusted for an assessment of the sales and marketing costs) is used to calculate a fair value estimate. A specific valuation allowance is established or partial charge-off is recorded for the difference between the excess recorded investment in the loan and the loan’s estimated fair value less costs to sell. The ALLL for PCI loans is estimated based on the expected cash flows over the life of the loan. BancShares continues to estimate and update cash flows expected to be collected on individual loans or pools of loans sharing common risk characteristics. BancShares compares the carrying value of all PCI loans to the present value at each balance sheet date. If the present value is less than the carrying value, that shortfall is compared to the remaining credit discount and if it is in excess of the remaining credit discount, an ALLL is recorded through the recognition of provision expense. The ALLL for PCI loans with subsequent increases in expected cash flows to be collected is reduced and any remaining excess is recorded as an adjustment to the accretable yield over the loan's or pool's remaining life. Reserve for Unfunded Commitments The reserve for unfunded commitments represents the estimated probable losses related to standby letters of credit and other commitments to extend credit. The reserve is calculated in a manner similar to the loans evaluated collectively for impairment, while also considering the applicable regulatory capital credit conversion factors for these off-balance sheet instruments as well as the exposure upon default. The reserve for unfunded commitments is presented within other liabilities, distinct from the ALLL, and adjustments to the reserve for unfunded commitments are included in other noninterest expense and represent an immaterial balance. Other Real Estate Owned (OREO) OREO acquired as a result of foreclosure is initially recorded at the asset’s estimated fair value less cost to sell. Any excess in the recorded investment in the loan over the estimated fair value less costs to sell is charged-off against the ALLL at the time of foreclosure. OREO is subsequently carried at the lower of cost or market value less estimated selling costs and is evaluated at least annually. The periodic evaluations are generally based on the appraised value of the property and may include additional adjustments based upon management's review of the valuation estimate and specific knowledge of the property. Routine maintenance costs, income and expenses related to the operation of the foreclosed asset, subsequent declines in market value and net gains or losses on disposal are included in foreclosure-related expense. Payable to the Federal Deposit Insurance Corporation (FDIC) for Shared-Loss Agreements The purchase and assumption agreements for certain FDIC-assisted transactions include payments that may be owed to the FDIC at the termination of the shared-loss agreements . The payment is due to the FDIC if actual cumulative losses on acquired covered assets are lower than the cumulative losses originally estimated by the FDIC at the time of acquisition. The liability is calculated by discounting estimated future payments and is reported in the Consolidated Balance Sheets as an FDIC shared-loss payable. The ultimate settlement amount of the payment is dependent upon the performance of the underlying covered loans, recoveries, the passage of time and actual claims submitted to the FDIC. Premises and Equipment Premises and equipment are carried at cost less accumulated depreciation. Land is carried at cost. Depreciation expense is generally computed using the straight-line method over the estimated useful lives of the assets. Leasehold improvements and capitalized leases are amortized on a straight-line basis over the lesser of the lease terms or the estimated useful lives of the assets. Goodwill and Other Intangible Assets Goodwill represents the excess of the purchase price of an acquired entity over the fair value of the identifiable assets acquired. Goodwill is not amortized, but is evaluated at least annually for impairment during the third quarter, or when events or changes in circumstances indicate that a potential impairment exists. Other acquired intangible assets with finite lives, such as core deposit intangibles, are initially recorded at fair value and are amortized on an accelerated basis typically between five to ten years over their estimated useful lives. Intangible assets are evaluated for impairment when events or changes in circumstances indicate that a potential impairment exists. Mortgage Servicing Rights (MSRs) The right to provide servicing under various loan servicing contracts is either retained in connection with a loan sale or acquired in a business combination. MSRs are initially recorded at fair value and amortized in proportion to, and over the period of, the future net servicing income of the underlying loan. At each reporting period, MSRs are evaluated for impairment based upon the fair value of the rights as compared to the carrying value. Fair Values The fair value of financial instruments and the methods and assumptions used in estimating fair value amounts and financial assets and liabilities for which fair value was elected are detailed in Note M . Income Taxes Income taxes are accounted for using the asset and liability approach as prescribed in ASC 740, Income Taxes . Under this method, a deferred tax asset or liability is determined based on the currently enacted tax rates applicable to the period in which the differences between the financial statement carrying amounts and tax basis of existing assets and liabilities are expected to be reported in BancShares' income tax returns. The effect on deferred taxes of a change in tax rates is recognized in income in the period that includes the enactment date. The potential impact of current events on the estimates used to establish income tax expenses and income tax liabilities is continually monitored and evaluated. Income tax positions based on current tax law, positions taken by various tax auditors within the jurisdictions where income tax returns are filed, as well as potential or pending audits or assessments by such tax auditors are evaluated on a periodic basis. BancShares has unrecognized tax benefits related to the uncertain portion of tax positions that BancShares has taken or expects to take. A liability may be created or an amount refundable may be reduced for the amount of unrecognized tax benefits. These uncertainties result from the application of complex tax laws, rules, regulations and interpretations, primarily in state taxing jurisdictions. Unrecognized tax benefits are assessed quarterly and may be adjusted through current income tax expense in future periods based on changing facts and circumstances, completion of examinations by taxing authorities or expiration of a statute of limitations. Estimated penalties and interest on uncertain tax positions are recognized in income tax expense. BancShares files a consolidated federal income tax return and various combined and separate company state tax returns. See Note P in the Notes to Consolidated Financial Statements for additio |
Business Combinations
Business Combinations | 12 Months Ended |
Dec. 31, 2018 | |
Business Combinations [Abstract] | |
Business Combinations | BUSINESS COMBINATIONS FCB has evaluated the financial statement significance for all business combinations that were completed during 2018 and 2017. FCB has concluded that the completed business combinations noted below are not material to Bancshares' financial statements, individually or in aggregate, and therefore, pro forma financial data has not been not included. First South Bancorp, Inc. On January 10, 2019, FCB and First South Bancorp, Inc. (First South Bancorp) entered into a definitive merger agreement for the acquisition by FCB of Spartanburg, South Carolina-based First South Bancorp and its bank subsidiary, First South Bank. Under the terms of the agreement, cash consideration of $1.15 per share will be paid to the shareholders of First South Bancorp for each share of common stock totaling approximately $37.5 million . The total consideration assumes the conversion of all Series A preferred shares into common stock. The transaction is anticipated to close during the second quarter of 2019, subject to the receipt of regulatory approvals and the approval of First South Bancorp's shareholders, and will be accounted for under the acquisition method of accounting. The merger will allow FCB to expand its presence and enhance banking efforts in South Carolina. As of December 31, 2018, First South Bancorp reported $238.5 million in consolidated assets, $180.9 million in loans and $204.1 million in deposits. Biscayne Bancshares, Inc. On November 15, 2018, FCB and Biscayne Bancshares, Inc. (Biscayne Bancshares) entered into a definitive merger agreement for the acquisition by FCB of Coconut Grove, Florida-based Biscayne Bancshares and its bank subsidiary, Biscayne Bank. Under the terms of the agreement, cash consideration of $25.05 per share will be paid to the shareholders of Biscayne Bancshares for each share of common stock, totaling approximately $118.7 million . The transaction is expected to close during the second quarter of 2019, subject to the receipt of regulatory approvals, and will be accounted for under the acquisition method of accounting. The merger will allow FCB to expand its presence in Florida and enhance banking efforts in South Florida. As of December 31, 2018, Biscayne Bancshares reported $1.01 billion in consolidated assets, $850.3 million in loans and $746.4 million in deposits. Palmetto Heritage Bancshares, Inc. On November 1, 2018, FCB completed the merger of Pawleys Island, South Carolina-based Palmetto Heritage Bancshares, Inc. (Palmetto Heritage) and its subsidiary, Palmetto Heritage Bank & Trust, into FCB. Under the terms of the agreement, cash consideration of $135.00 per share was paid to the shareholders of Palmetto Heritage for each share of Palmetto Heritage's common stock, with total consideration paid of $30.4 million . The merger allowed FCB to expand its presence and enhance banking efforts in the South Carolina coastal markets. The Palmetto Heritage transaction was accounted for under the acquisition method of accounting and, accordingly, assets acquired and liabilities assumed were recorded at their estimated fair values on the acquisition date. Fair values are preliminary and subject to refinement for up to one year after the closing date of the acquisition as additional information regarding closing date fair values becomes available. As of December 31, 2018, there have been no refinements to the fair value of these assets acquired and liabilities assumed. The fair value of the assets acquired was $162.2 million , including $131.3 million in non-PCI loans, $3.9 million in PCI loans and $1.7 million in a core deposit intangible. Liabilities assumed were $149.3 million , of which $124.9 million were deposits. As a result of the transaction, FCB recorded $17.5 million of goodwill. The amount of goodwill represents the excess purchase price over the estimated fair value of the net assets acquired. The premium paid reflects the increased market share and related synergies that are expected to result from the acquisition. None of the goodwill is deductible for income tax purposes as the merger is accounted for as a qualified stock purchase. Based on such credit factors as past due status, nonaccrual status, life-to-date charge-offs and other quantitative and qualitative considerations, the acquired loans were separated into loans with evidence of credit deterioration, which are accounted for under ASC 310-30 (PCI loans), and loans that do not meet this criteria, which are accounted for under ASC 310-20 (non-PCI loans). The following table provides the purchase price as of the acquisition date and the identifiable assets acquired and liabilities assumed at their estimated fair values. (Dollars in thousands) As recorded by FCB Purchase Price $ 30,426 Assets Cash and due from banks $ 6,418 Investment securities 4,549 Loans 135,146 Premises and equipment 5,369 Other real estate owned 2,319 Income earned not collected 531 Intangible assets 1,706 Other assets 6,210 Fair value of assets acquired 162,248 Liabilities Deposits 124,892 Accrued interest payable 177 Borrowings 24,000 Other liabilities 203 Fair value of liabilities assumed $ 149,272 Fair value of net assets assumed 12,976 Goodwill recorded for Palmetto Heritage $ 17,450 Merger-related expenses of $546 thousand from the Palmetto Heritage transaction were recorded in the Consolidated Statements of Income for the year ended December 31, 2018. Loan-related interest income generated from Palmetto Heritage was approximately $1.2 million since the acquisition date. Capital Commerce Bancorp, Inc. On October 2, 2018, FCB completed the merger of Milwaukee, Wisconsin-based Capital Commerce Bancorp, Inc. (Capital Commerce) and its subsidiary, Securant Bank & Trust, into FCB. Under the terms of the merger agreement, cash consideration of $4.75 per share was paid to the shareholders of Capital Commerce for each share of Capital Commerce's common stock with total consideration paid of $28.1 million . The merger allowed FCB to expand its presence and enhance banking efforts in the Milwaukee market. The Capital Commerce transaction was accounted for under the acquisition method of accounting and, accordingly, assets acquired and liabilities assumed were recorded at their estimated fair values on the acquisition date. Fair values are preliminary and subject to refinement for up to one year after the closing date of the acquisition as additional information regarding closing date fair values becomes available. As of December 31, 2018, there have been no refinements to the fair value of these assets acquired and liabilities assumed. The fair value of the assets acquired was $221.9 million , including $173.4 million in non-PCI loans, $10.8 million in PCI loans and $2.7 million in a core deposit intangible. Liabilities assumed were $204.5 million , of which $172.4 million were deposits. As a result of the transaction, FCB recorded $10.7 million of goodwill. The amount of goodwill represents the excess purchase price over the estimated fair value of the net assets acquired. The premium paid reflects the increased market share and related synergies that are expected to result from the acquisition. None of the goodwill is deductible for income tax purposes as the merger is accounted for as a qualified stock purchase. Based on such credit factors as past due status, nonaccrual status, life-to-date charge-offs and other quantitative and qualitative considerations, the acquired loans were separated into loans with evidence of credit deterioration, which are accounted for under ASC 310-30 (PCI loans), and loans that do not meet this criteria, which are accounted for under ASC 310-20 (non-PCI loans). The following table provides the purchase price as of the acquisition date and the identifiable assets acquired and liabilities assumed at their estimated fair values. (Dollars in thousands) As recorded by FCB Purchase Price $ 28,063 Assets Cash and due from banks $ 3,244 Overnight investments 1,065 Investment securities 17,865 Loans 184,126 Premises and equipment 3,773 Income earned not collected 621 Intangible assets 2,680 Other assets 8,513 Fair value of assets acquired 221,887 Liabilities Deposits 172,387 Accrued interest payable 263 Borrowings 30,624 Other liabilities 1,230 Fair value of liabilities assumed $ 204,504 Fair value of net assets assumed 17,383 Goodwill recorded for Capital Commerce $ 10,680 Merger-related expenses of $1.2 million from the Capital Commerce transaction were recorded in the Consolidated Statements of Income for the year ended December 31, 2018. Loan-related interest income generated from Capital Commerce was approximately $3.2 million since the acquisition date. HomeBancorp, Inc. On May 1, 2018, FCB completed the merger of Tampa, Florida-based HomeBancorp, Inc. (HomeBancorp) and its subsidiary, HomeBanc, into FCB. Under the terms of the merger agreement, cash consideration of $15.03 per share was paid to the shareholders of HomeBancorp for each share of HomeBancorp's common stock, with total consideration paid of $112.7 million . The merger allowed FCB to expand its footprint in Florida by entering into two new markets in Tampa and Orlando. The HomeBancorp transaction was accounted for under the acquisition method of accounting and, accordingly, assets acquired and liabilities assumed were recorded at their estimated fair values on the acquisition date. Fair values are preliminary and subject to refinement for up to one year after the closing date of the acquisition as additional information regarding closing date fair values becomes available. As of December 31, 2018, there have been no refinements to the fair value of these assets acquired and liabilities assumed. The fair value of the assets acquired was $842.7 million , including $550.6 million in non-PCI loans, $15.6 million in PCI loans and $9.9 million in a core deposit intangible. Liabilities assumed were $787.7 million , of which $619.6 million were deposits. As a result of the transaction, FCB recorded $57.6 million of goodwill. The amount of goodwill represents the excess purchase price over the estimated fair value of the net assets acquired. The premium paid reflects the increased market share and related synergies that are expected to result from the acquisition. None of the goodwill is deductible for income tax purposes as the merger is accounted for as a qualified stock purchase. Based on such credit factors as past due status, nonaccrual status, loan-to-value, credit scores and other quantitative and qualitative considerations, the acquired loans were separated into loans with evidence of credit deterioration, which are accounted for under ASC 310-30 (PCI loans), and loans that do not meet this criteria, which are accounted for under ASC 310-20 (non-PCI loans). The following table provides the purchase price as of the acquisition date and the identifiable assets acquired and liabilities assumed at their estimated fair values. (Dollars in thousands) As recorded by FCB Purchase Price $ 112,657 Assets Cash and due from banks $ 6,359 Overnight investments 10,393 Investment securities 200,918 Loans held for sale 791 Loans 566,173 Premises and equipment 6,542 Other real estate owned 2,135 Income earned not collected 2,717 Intangible assets 13,206 Other assets 33,459 Fair value of assets acquired 842,693 Liabilities Deposits 619,589 Accrued interest payable 1,020 Borrowings 161,917 Other liabilities 5,126 Fair value of liabilities assumed $ 787,652 Fair value of net assets assumed 55,041 Goodwill recorded for HomeBancorp $ 57,616 Merger-related expenses of $2.3 million from the HomeBancorp transaction were recorded in the Consolidated Statements of Income for the year ended December 31, 2018. Loan-related interest income generated from HomeBancorp was approximately $17.4 million since the acquisition date. Guaranty Bank On May 5, 2017, FCB entered into an agreement with the FDIC, as Receiver, to purchase certain assets and assume certain liabilities of Guaranty Bank (Guaranty) of Milwaukee, Wisconsin. The Guaranty transaction was accounted for under the acquisition method of accounting and, accordingly, assets acquired and liabilities assumed were recorded at their estimated fair values on the acquisition date. These fair values were subject to refinement for up to one year after the closing date of the acquisition. The measurement period ended on May 4, 2018, with no material changes to the original calculated fair values. The fair value of the assets acquired was $875.1 million , including $574.6 million in non-PCI loans, $114.5 million in PCI loans and $9.9 million in a core deposit intangible. Liabilities assumed were $982.7 million , of which $982.3 million were deposits. The total gain on the transaction was $122.7 million , which is included in noninterest income in the Consolidated Statements of Income. Merger-related expenses of $2.3 million and $7.4 million were recorded in the Consolidated Statements of Income for the years ended December 31, 2018 , and December 31, 2017 , respectively. Loan-related interest income generated from Guaranty was approximately $17.3 million and $20.5 million for the years ended December 31, 2018 , and December 31, 2017 , respectively. While the acquisition gain of $122.7 million was significant for 2017, the ongoing contributions of this transaction to BancShares' financial statements is not considered material and therefore pro forma financial data is not included. Based on such credit factors as past due status, nonaccrual status, loan-to-value, credit scores, and other quantitative and qualitative considerations, the acquired loans were separated into loans with evidence of credit deterioration, which are accounted for under ASC 310-30 (PCI loans), and loans that do not meet this criteria, which are accounted for under ASC 310-20 (non-PCI loans). Harvest Community Bank On January 13, 2017, FCB entered into an agreement with the FDIC, as Receiver, to purchase certain assets and assume certain liabilities of Harvest Community Bank (HCB) of Pennsville, New Jersey. The HCB transaction was accounted for under the acquisition method of accounting and, accordingly, assets acquired and liabilities assumed were recorded at their estimated fair values on the acquisition date. These fair values were subject to refinement for up to one year after the closing date of the acquisition. The measurement period ended on January 12, 2018, with no material changes to the original calculated fair values. The fair value of the assets acquired was $111.6 million , including $85.1 million in PCI loans and $850 thousand in a core deposit intangible. Liabilities assumed were $121.8 million , of which the majority were deposits. The total gain on the transaction was $12.0 million , which is included in noninterest income in the Consolidated Statements of Income. There were no merger-related expenses recorded for the year ended December 31, 2018, and $1.2 million were recorded in the Consolidated Statements of Income for the year ended December 31, 2017 . Loan-related interest income generated from HCB was approximately $3.7 million and $3.8 million for the years ended December 31, 2018 and December 31, 2017, respectively. All loans resulting from the HCB transaction were recorded at the acquisition date with a discount attributable, at least in part, to credit quality deterioration, and are therefore accounted for as PCI under ASC 310-30. |
Investments
Investments | 12 Months Ended |
Dec. 31, 2018 | |
Investments [Abstract] | |
Investments | INVESTMENTS The amortized cost and fair value of investment securities classified as available for sale and held to maturity at December 31, 2018 and 2017 , were as follows: December 31, 2018 (Dollars in thousands) Cost Gross unrealized gains Gross unrealized losses Fair value Investment securities available for sale U.S. Treasury $ 1,249,243 $ 633 $ 2,166 $ 1,247,710 Government agency 257,252 222 639 256,835 Mortgage-backed securities 2,956,793 5,309 52,763 2,909,339 Corporate bonds 139,906 59 864 139,101 Other 3,923 202 — 4,125 Total investment securities available for sale $ 4,607,117 $ 6,425 $ 56,432 $ 4,557,110 December 31, 2017 Cost Gross unrealized gains Gross unrealized losses Fair value U.S. Treasury $ 1,658,410 $ — $ 546 $ 1,657,864 Government agency 8,695 15 40 8,670 Mortgage-backed securities 5,419,379 1,529 80,152 5,340,756 Marketable equity securities 75,471 29,737 — 105,208 Corporate bonds 59,414 557 8 59,963 Other 7,645 256 182 7,719 Total investment securities available for sale $ 7,229,014 $ 32,094 $ 80,928 $ 7,180,180 December 31, 2018 Cost Gross unrealized gains Gross unrealized losses Fair value Investment securities held to maturity Mortgage-backed securities $ 2,184,653 $ 17,339 $ 490 $ 2,201,502 December 31, 2017 Cost Gross unrealized gains Gross unrealized losses Fair value Mortgage-backed securities $ 76 $ 5 $ — $ 81 The adoption of ASU 2016-01in the first quarter of 2018 resulted in marketable equity investments being reported separately in the Consolidated Balance Sheets and the change in fair value of those investments is reflected in the Consolidated Statements of Income. At adoption, we recorded a cumulative-effect adjustment to the consolidated balance sheet resulting in an $18.7 million increase to retained earnings and a corresponding decrease to AOCI. The fair value of marketable equity securities was $92.6 million and $105.2 million , respectively, at December 31, 2018 and 2017. On May 1, 2018, mortgage-backed securities with an amortized cost of $2.49 billion were transferred from investments available for sale to the held to maturity portfolio. At the time of transfer, the mortgage-backed securities had a fair value of $2.38 billion and a weighted average contractual maturity of 13 years. The unrealized loss on these securities at the date of transfer was $109.5 million or $84.3 million net of tax, and continues to be reported as a component of AOCI. This unrealized loss will be accreted over the remaining expected life of the securities as an adjustment of yield and is partially offset by the amortization of the corresponding discount on the transferred securities. As of December 31, 2018, $17.1 million or $13.2 million net of tax, of the unrealized loss has been accreted from AOCI into interest income. FCB has the intent and ability to retain these securities until maturity. Investments in mortgage-backed securities represent securities issued by the Government National Mortgage Association, Federal National Mortgage Association and Federal Home Loan Mortgage Corporation. Investments in government agency securities represent securities issued by the United States Small Business Administration. Investments in corporate bonds and marketable equity securities represent positions in securities of other financial institutions. Other investments include trust preferred securities of financial institutions. BancShares holds approximately 298,000 shares of Visa Class B common stock with a cost basis of zero. BancShares' Visa Class B shares are not considered to have a readily determinable fair value and are included in the Consolidated Balance Sheets at a $0 fair value. The following table provides the amortized cost and fair value by contractual maturity. Expected maturities will differ from contractual maturities on certain securities because borrowers and issuers may have the right to call or prepay obligations with or without prepayment penalties. Mortgage-backed, government agency and equity securities are stated separately as they are not due at a single maturity date. December 31, 2018 December 31, 2017 (Dollars in thousands) Cost Fair value Cost Fair value Investment securities available for sale Non-amortizing securities maturing in: One year or less $ 1,049,253 $ 1,047,380 $ 808,768 $ 808,301 One through five years 205,526 205,805 849,642 849,563 Five through 10 years 134,370 133,626 59,414 59,963 Over 10 years 3,923 4,125 7,645 7,719 Government agency 257,252 256,835 8,695 8,670 Mortgage-backed securities 2,956,793 2,909,339 5,419,379 5,340,756 Marketable equity securities — — 75,471 105,208 Total investment securities available for sale $ 4,607,117 $ 4,557,110 $ 7,229,014 $ 7,180,180 Investment securities held to maturity Mortgage-backed securities held to maturity $ 2,184,653 $ 2,201,502 $ 76 $ 81 For each period presented, securities gains (losses) include the following: Year ended December 31 (Dollars in thousands) 2018 2017 2016 Gross gains on retirement/sales of investment securities available for sale $ 353 $ 11,635 $ 27,104 Gross losses on sales of investment securities available for sale (2 ) (7,342 ) (431 ) Net securities gains $ 351 $ 4,293 $ 26,673 The following table provides the realized and unrealized gains or losses on marketable equity securities for the three and twelve months ended December 31, 2018. (Dollars in thousands) Three months ended December 31, 2018 Twelve months ended December 31, 2018 Marketable equity securities (losses) gains, net $ (16,875 ) $ (7,610 ) Less net gains recognized on marketable equity securities sold 9 1,190 Unrealized (losses) gains recognized on marketable equity securities held $ (16,884 ) $ (8,800 ) The following table provides information regarding securities with unrealized losses as of December 31, 2018 and 2017 : December 31, 2018 Less than 12 months 12 months or more Total (Dollars in thousands) Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses Investment securities available for sale: U.S. Treasury $ 248,983 $ 113 $ 848,622 $ 2,053 $ 1,097,605 $ 2,166 Government agency 115,273 601 2,310 38 117,583 639 Mortgage-backed securities 262,204 2,387 1,940,695 50,376 2,202,899 52,763 Corporate bonds 79,066 842 5,000 22 84,066 864 Total $ 705,526 $ 3,943 $ 2,796,627 $ 52,489 $ 3,502,153 $ 56,432 Investment securities held to maturity: Mortgage-backed securities $ 5,111 $ 181 $ 10,131 $ 309 $ 15,242 $ 490 December 31, 2017 Less than 12 months 12 months or more Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses Investment securities available for sale: U.S. Treasury $ 1,408,166 $ 345 $ 249,698 $ 201 $ 1,657,864 $ 546 Government agency 848 12 2,527 28 3,375 40 Mortgage-backed securities 2,333,254 20,911 2,723,406 59,241 5,056,660 80,152 Corporate bonds 5,025 8 — — 5,025 8 Other 5,349 182 — — 5,349 182 Total $ 3,752,642 $ 21,458 $ 2,975,631 $ 59,470 $ 6,728,273 $ 80,928 As of December 31, 2018 , there were 221 investment securities available for sale that had continuous losses for more than 12 months of which 213 are government sponsored, enterprise-issued mortgage-backed securities or government agency securities, 7 are U.S. Treasury securities and 1 is a corporate bond. There were 2 investment securities held to maturity, which were government sponsored, enterprise-issued mortgage securities, that had continuous losses for more than 12 months at December 31, 2018 . None of the unrealized losses identified as of December 31, 2018 or December 31, 2017 relate to the marketability of the securities or the issuer’s ability to honor redemption obligations. Rather, the unrealized losses related to changes in interest rates and spreads relative to when the investment securities were purchased. BancShares has the ability and intent to retain these securities for a period of time sufficient to recover all unrealized losses. Therefore, none of the securities were deemed to be OTTI. Debt securities having an aggregate carrying value of $4.03 billion at December 31, 2018 and $4.59 billion at December 31, 2017 , were pledged as collateral to secure public funds on deposit and certain short-term borrowings, and for other purposes as required by law. |
Loans and Leases
Loans and Leases | 12 Months Ended |
Dec. 31, 2018 | |
Loans and Leases Receivable Disclosure [Abstract] | |
Loans and Leases | LOANS AND LEASES BancShares' accounting methods for loans and leases differ depending on whether they are non-PCI or PCI. Loans that are originated by BancShares and loans that are performing under their contractual obligations at acquisition are classified as Non-PCI. Loans that reflect credit deterioration since origination such that it is probable at acquisition that BancShares will be unable to collect all contractually required payments are classified as PCI. Additionally, acquired loans are recorded at fair value at the date of acquisition, with no corresponding allowance for loan and lease losses. See Note A for additional information on non-PCI and PCI loans and leases. Loans and leases outstanding include the following at December 31, 2018 and 2017 : (Dollars in thousands) December 31, 2018 December 31, 2017 Non-PCI loans and leases: Commercial: Construction and land development $ 757,854 $ 669,215 Commercial mortgage 10,717,234 9,729,022 Other commercial real estate 426,985 473,433 Commercial and industrial and leases 3,938,730 3,625,208 Other 296,424 302,176 Total commercial loans 16,137,227 14,799,054 Noncommercial: Residential mortgage 4,265,687 3,523,786 Revolving mortgage 2,542,975 2,701,525 Construction and land development 257,030 248,289 Consumer 1,713,781 1,561,173 Total noncommercial loans 8,779,473 8,034,773 Total non-PCI loans and leases 24,916,700 22,833,827 PCI loans: Total PCI loans 606,576 762,998 Total loans and leases $ 25,523,276 $ 23,596,825 At December 31, 2018 , $9.12 billion in noncovered loans with a lendable collateral value of $6.36 billion were used to secure $175.2 million in FHLB of Atlanta advances, resulting in additional borrowing capacity of $6.18 billion . At December 31, 2017 , $8.75 billion in noncovered loans with a lendable collateral value of $6.08 billion were used to secure $835.2 million in FHLB of Atlanta advances, resulting in additional borrowing capacity of $5.24 billion . At December 31, 2018 , $2.94 billion in noncovered loans with a lendable collateral value of $2.19 billion were used to secure additional borrowing capacity at the Federal Reserve Bank (FRB). At December 31, 2017 , $2.77 billion in noncovered loans with a lendable collateral value of $2.08 billion were used to secure additional borrowing capacity at the FRB. Certain residential real estate loans are originated to be sold to investors and are recorded in loans held for sale at fair value. Loans held for sale totaled $45.5 million and $51.2 million at December 31, 2018 and 2017 , respectively. We may change our strategy for certain portfolio loans and sell them in the secondary market. At that time, portfolio loans are transferred to loans held for sale at fair value. During 2018 , total proceeds from sales of residential mortgage loans were $618.1 million of which $608.5 million related to sales of loans held for sale. The remaining $9.6 million related to sales of portfolio loans, which were sold at par. During 2017 , total proceeds from sales of residential mortgage loans were $823.5 million , of which $660.8 million related to sales of loans held for sale. The remaining $162.6 million related to sales of portfolio loans, which resulted in a gain of $1.0 million . Net deferred fees on originated non-PCI loans and leases, including unearned income as well as unamortized costs, were $79 thousand and $1.7 million at December 31, 2018 and December 31, 2017 , respectively. The unamortized discounts related to purchased non-PCI loans in the Capital Commerce, HomeBancorp, Guaranty, Cordia Bancorp, Inc. (Cordia) and First Citizens Bancorporation, Inc. (Bancorporation) acquisitions were $3.1 million , $6.3 million , $10.8 million , $1.4 million and $12.0 million at December 31, 2018 , respectively. At December 31, 2017 , the unamortized discounts related to purchased non-PCI loans and leases from the Guaranty, Cordia and Bancorporation acquisitions were $14.2 million , $2.7 million and $18.1 million , respectively. During the years ended December 31, 2018 and December 31, 2017 , accretion income on purchased non-PCI loans and leases was $12.8 million and $13.6 million , respectively. Loans and leases to borrowers in medical, dental or related fields were $4.98 billion as of December 31, 2018 , which represents 19.5 percent of total loans and leases, compared to $4.86 billion or 20.6 percent of total loans and leases at December 31, 2017 . The credit risk of this industry concentration is mitigated through our underwriting policies, which emphasize reliance on adequate borrower cash flow, rather than underlying collateral value, and our preference for financing secured by owner-occupied real property. Except for this single concentration, no other industry represented more than 10 percent of total loans and leases outstanding at December 31, 2018 . Credit quality indicators Loans and leases are monitored for credit quality on a recurring basis. Commercial and noncommercial loans and leases have different credit quality indicators as a result of the unique characteristics of the loan segments being evaluated. The credit quality indicators for non-PCI and PCI commercial loans and leases are developed through a review of individual borrowers on an ongoing basis. Commercial loans are evaluated periodically with more frequent evaluations done on criticized loans. The indicators as of the date presented are based on the most recent assessment performed and are defined below: Pass – A pass rated asset is not adversely classified because it does not display any of the characteristics for adverse classification. Special mention – A special mention asset has potential weaknesses that deserve management’s close attention. If left uncorrected, such potential weaknesses may result in deterioration of the repayment prospects or collateral position at some future date. Special mention assets are not adversely classified and do not warrant adverse classification. Substandard – A substandard asset is inadequately protected by the current net worth and paying capacity of the borrower or of the collateral pledged, if any. Assets classified as substandard generally have a well-defined weakness, or weaknesses, that jeopardize the liquidation of the debt. These assets are characterized by the distinct possibility of loss if the deficiencies are not corrected. Doubtful – An asset classified as doubtful has all the weaknesses inherent in an asset classified substandard with the added characteristic that the weaknesses make collection or liquidation in full highly questionable and improbable on the basis of currently existing facts, conditions and values. Loss – Assets classified as loss are considered uncollectible and of such little value that it is inappropriate to be carried as an asset. This classification is not necessarily equivalent to any potential for recovery or salvage value, but rather that it is not appropriate to defer a full charge-off even though partial recovery may be affected in the future. Ungraded – Ungraded loans represent loans that are not included in the individual credit grading process due to their relatively small balances or borrower type. The majority of ungraded loans at December 31, 2018 and 2017, relate to business credit cards. Business credit card loans are subject to automatic charge-off when they become 120 days past due in the same manner as unsecured consumer lines of credit. The remaining balance is comprised of a small amount of commercial mortgage, lease financing and other commercial real estate loans. The credit quality indicators for non-PCI and PCI noncommercial loans are based on delinquency status of the borrower as of the date presented. As the borrower becomes more delinquent, the likelihood of loss increases. The composition of the loans and leases outstanding at December 31, 2018 and December 31, 2017 , by credit quality indicator are provided below: December 31, 2018 Non-PCI commercial loans and leases (Dollars in thousands) Construction and land Commercial Other Commercial and Other Total non-PCI commercial loans and leases Pass $ 753,985 $ 10,507,687 $ 422,500 $ 3,778,797 $ 294,700 $ 15,757,669 Special mention 1,369 114,219 3,193 54,814 1,105 174,700 Substandard 2,500 92,743 1,292 30,688 619 127,842 Doubtful — — — 354 — 354 Ungraded — 2,585 — 74,077 — 76,662 Total $ 757,854 $ 10,717,234 $ 426,985 $ 3,938,730 $ 296,424 $ 16,137,227 December 31, 2017 Non-PCI commercial loans and leases Construction and land Commercial Other Commercial and Other Total non-PCI commercial loans and leases Pass $ 665,197 $ 9,521,019 $ 468,942 $ 3,395,086 $ 298,064 $ 14,348,308 Special mention 691 78,643 1,260 48,470 2,919 131,983 Substandard 3,327 128,848 3,224 25,202 1,193 161,794 Doubtful — 262 — 385 — 647 Ungraded — 250 7 156,065 — 156,322 Total $ 669,215 $ 9,729,022 $ 473,433 $ 3,625,208 $ 302,176 $ 14,799,054 December 31, 2018 Non-PCI noncommercial loans and leases (Dollars in thousands) Residential Revolving Construction Consumer Total non-PCI noncommercial Current $ 4,214,783 $ 2,514,269 $ 254,837 $ 1,696,321 $ 8,680,210 30-59 days past due 28,239 12,585 581 10,035 51,440 60-89 days past due 7,357 4,490 21 3,904 15,772 90 days or greater past due 15,308 11,631 1,591 3,521 32,051 Total $ 4,265,687 $ 2,542,975 $ 257,030 $ 1,713,781 $ 8,779,473 December 31, 2017 Non-PCI noncommercial loans and leases Residential Revolving Construction Consumer Total non-PCI noncommercial Current $ 3,465,935 $ 2,674,390 $ 239,648 $ 1,546,473 $ 7,926,446 30-59 days past due 27,886 13,428 7,154 8,812 57,280 60-89 days past due 8,064 3,485 108 2,893 14,550 90 days or greater past due 21,901 10,222 1,379 2,995 36,497 Total $ 3,523,786 $ 2,701,525 $ 248,289 $ 1,561,173 $ 8,034,773 December 31, 2018 December 31, 2017 (Dollars in thousands) PCI commercial loans Pass $ 141,922 $ 201,332 Special mention 48,475 63,257 Substandard 101,447 117,068 Doubtful 4,828 11,735 Ungraded — 27 Total $ 296,672 $ 393,419 December 31, 2018 December 31, 2017 (Dollars in thousands) PCI noncommercial loans Current $ 268,280 $ 318,632 30-89 days past due 11,155 13,343 60-89 days past due 7,708 6,212 90 days or greater past due 22,761 31,392 Total $ 309,904 $ 369,579 The aging of the outstanding non-PCI loans and leases, by class, at December 31, 2018, and December 31, 2017 are provided in the tables below. Loans and leases 30 days or less past due are considered current, as various grace periods allow borrowers to make payments within a stated period after the due date and still remain in compliance with the loan agreement. December 31, 2018 (Dollars in thousands) 30-59 days past due 60-89 days past due 90 days or greater Total past due Current Total loans and leases Non-PCI loans and leases: Commercial: Construction and land development - commercial $ 516 $ 9 $ 444 $ 969 $ 756,885 $ 757,854 Commercial mortgage 14,200 2,066 3,237 19,503 10,697,731 10,717,234 Other commercial real estate 91 76 300 467 426,518 426,985 Commercial and industrial and leases 9,655 1,759 2,892 14,306 3,924,424 3,938,730 Other 285 — 89 374 296,050 296,424 Total commercial loans 24,747 3,910 6,962 35,619 16,101,608 16,137,227 Noncommercial: Residential mortgage 28,239 7,357 15,308 50,904 4,214,783 4,265,687 Revolving mortgage 12,585 4,490 11,631 28,706 2,514,269 2,542,975 Construction and land development - noncommercial 581 21 1,591 2,193 254,837 257,030 Consumer 10,035 3,904 3,521 17,460 1,696,321 1,713,781 Total noncommercial loans 51,440 15,772 32,051 99,263 8,680,210 8,779,473 Total non-PCI loans and leases $ 76,187 $ 19,682 $ 39,013 $ 134,882 $ 24,781,818 $ 24,916,700 December 31, 2017 30-59 days past due 60-89 days past due 90 days or greater Total past due Current Total loans and leases Non-PCI loans and leases: Commercial: Construction and land development - commercial $ 491 $ 442 $ 357 $ 1,290 $ 667,925 $ 669,215 Commercial mortgage 12,288 2,375 6,490 21,153 9,707,869 9,729,022 Other commercial real estate 107 — 75 182 473,251 473,433 Commercial and industrial and leases 9,677 1,677 2,239 13,593 3,611,615 3,625,208 Other 188 6 133 327 301,849 302,176 Total commercial loans 22,751 4,500 9,294 36,545 14,762,509 14,799,054 Noncommercial: Residential mortgage 27,886 8,064 21,901 57,851 3,465,935 3,523,786 Revolving mortgage 13,428 3,485 10,222 27,135 2,674,390 2,701,525 Construction and land development - noncommercial 7,154 108 1,379 8,641 239,648 248,289 Consumer 8,812 2,893 2,995 14,700 1,546,473 1,561,173 Total noncommercial loans 57,280 14,550 36,497 108,327 7,926,446 8,034,773 Total non-PCI loans and leases $ 80,031 $ 19,050 $ 45,791 $ 144,872 $ 22,688,955 22,833,827 The recorded investment, by class, in loans and leases on nonaccrual status, and loans and leases greater than 90 days past due and still accruing at December 31, 2018 and December 31, 2017 for non-PCI loans and leases, were as follows: December 31, 2018 December 31, 2017 (Dollars in thousands) Nonaccrual loans and leases Loans and leases > 90 days and accruing Nonaccrual loans and leases Loans and leases > 90 days and accruing Non-PCI loans and leases: Construction and land development - commercial $ 666 $ — $ 1,040 $ — Commercial mortgage 12,594 — 22,625 397 Other commercial real estate 366 — 916 — Commercial and industrial and leases 4,624 808 4,876 428 Residential mortgage 35,662 — 38,942 — Revolving mortgage 25,563 — 19,990 — Construction and land development - noncommercial 1,823 — 1,989 — Consumer 2,969 2,080 1,992 2,153 Other 279 — 164 — Total non-PCI loans and leases $ 84,546 $ 2,888 $ 92,534 $ 2,978 Purchased non-PCI loans and leases The following table relates to purchased non-PCI loans acquired in the Palmetto Heritage, Capital Commerce and HomeBancorp transactions in 2018 and the Guaranty transaction in 2017. The table summarizes the contractually required payments, which include principal and interest, estimate of contractual cash flows not expected to be collected and fair value of the acquired loans at the acquisition date. (Dollars in thousands) Palmetto Heritage Capital Commerce HomeBancorp Guaranty Contractually required payments $ 142,413 $ 198,568 $ 710,876 $ 703,916 Contractual cash flows not expected to be collected — 5,427 9,845 16,073 Fair value at acquisition date 131,283 173,354 550,618 574,553 The recorded fair values of purchased non-PCI loans acquired in the Palmetto Heritage, Capital Commerce and HomeBancorp transactions in 2018 and the Guaranty transaction in 2017 as of their respective acquisition date were as follows: (Dollars in thousands) Palmetto Heritage Capital Commerce HomeBancorp Guaranty Commercial: Construction and land development $ 13,186 $ 10,299 $ 525 $ — Commercial mortgage 29,225 57,049 188,688 850 Other commercial real estate 753 6,370 55,183 — Commercial and industrial and leases 8,153 34,301 7,931 583 Other 1,039 — — 183,816 Total commercial loans and leases 52,356 108,019 252,327 185,249 Noncommercial: Residential mortgage 59,076 50,630 296,273 309,612 Revolving mortgage 6,175 2,552 51 54,780 Construction and land development 11,103 11,173 — — Consumer 2,573 980 1,967 24,912 Total noncommercial loans and leases 78,927 65,335 298,291 389,304 Total non-PCI loans $ 131,283 $ 173,354 $ 550,618 $ 574,553 PCI loans The following table relates to PCI loans acquired in the Palmetto Heritage, Capital Commerce and HomeBancorp transactions in 2018 and the Guaranty and HCB transactions in 2017. The table summarizes the contractually required payments, which include principal and interest, expected cash flows to be collected, and the fair value of PCI loans at the respective acquisition dates. (Dollars in thousands) Palmetto Heritage Capital Commerce HomeBancorp Guaranty HCB Contractually required payments $ 4,783 $ 13,871 $ 26,651 $ 158,456 $ 111,250 Cash flows expected to be collected 4,112 11,814 19,697 142,000 101,802 Fair value of loans at acquisition 3,863 10,772 15,555 114,533 85,149 The recorded fair values of PCI loans acquired in the Palmetto Heritage, Capital Commerce and HomeBancorp transactions in 2018 and the Guaranty and HCB transactions in 2017 as of their respective acquisition date were as follows: (Dollars in thousands) Palmetto Heritage Capital Commerce HomeBancorp Guaranty HCB Commercial: Construction and land development $ 212 $ 1,482 $ — $ 55 $ 7,061 Commercial mortgage 1,053 1,846 7,815 644 21,836 Other commercial real estate — — — — 6,404 Commercial and industrial 372 922 423 2 19,675 Total commercial loans 1,637 4,250 8,238 701 54,976 Noncommercial: Residential mortgage 2,226 6,503 7,317 80,475 25,857 Revolving mortgage — — — 33,319 3,434 Construction and land development — — — 26 — Consumer — 19 — 12 882 Total noncommercial loans 2,226 6,522 7,317 113,832 30,173 Total PCI loans $ 3,863 $ 10,772 $ 15,555 $ 114,533 $ 85,149 The following table provides changes in the carrying value of all PCI loans during the years ended December 31, 2018 and 2017 : (Dollars in thousands) 2018 2017 2016 Balance at January 1 $ 762,998 $ 809,169 $ 950,516 Fair value of PCI loans acquired during the year 30,190 199,682 80,690 Accretion 61,502 76,594 76,565 Payments received and other changes, net (248,114 ) (322,447 ) (298,602 ) Balance at December 31 $ 606,576 $ 762,998 $ 809,169 Unpaid principal balance at December 31 $ 960,457 $ 1,175,441 $ 1,266,395 The carrying value of PCI loans on the cost recovery method was $3.3 million at December 31, 2018 , and $1.1 million at December 31, 2017 . The recorded investment of PCI loans on nonaccrual status was $1.3 million and $624 thousand at December 31, 2018 , and December 31, 2017 , respectively. During the years ended December 31, 2018 , and December 31, 2017 , accretion income on PCI loans was $61.5 million and $76.6 million , respectively. For PCI loans, improved credit loss expectations generally result in the reclassification of nonaccretable difference to accretable yield. Changes in expected cash flows not related to credit improvements or deterioration do not affect the nonaccretable difference. The following table summarizes changes to the amount of accretable yield for 2018 and 2017 . (Dollars in thousands) 2018 2017 2016 Balance at January 1 $ 316,679 $ 335,074 $ 343,856 Additions from acquisitions 6,393 44,120 12,488 Accretion (61,502 ) (76,594 ) (76,565 ) Reclassifications from nonaccretable difference 5,980 18,901 29,931 Changes in expected cash flows that do not affect nonaccretable difference 45,344 (4,822 ) 25,364 Balance at December 31 $ 312,894 $ 316,679 $ 335,074 |
Allowance for Loan and Lease Lo
Allowance for Loan and Lease Losses | 12 Months Ended |
Dec. 31, 2018 | |
Receivables [Abstract] | |
Allowance for Loan and Lease Losses | The following tables provide information on non-PCI impaired loans and leases, exclusive of loans and leases evaluated collectively as a homogeneous group, including interest income recognized in the period during which the loans and leases were considered impaired. December 31, 2018 (Dollars in thousands) With a recorded allowance With no recorded allowance Total Unpaid Related allowance recorded Non-PCI impaired loans and leases Construction and land development - commercial $ 1,897 $ 278 $ 2,175 $ 2,606 $ 490 Commercial mortgage 34,177 21,270 55,447 61,317 2,671 Other commercial real estate 243 617 860 946 42 Commercial and industrial and leases 7,153 2,715 9,868 14,695 1,137 Other 216 75 291 301 105 Residential mortgage 40,359 1,809 42,168 45,226 1,901 Revolving mortgage 25,751 3,101 28,852 31,371 2,515 Construction and land development - noncommercial 2,337 1,412 3,749 4,035 81 Consumer 2,940 80 3,020 3,405 885 Total non-PCI impaired loans and leases $ 115,073 $ 31,357 $ 146,430 $ 163,902 $ 9,827 December 31, 2017 (Dollars in thousands) With a recorded allowance With no recorded allowance Total Unpaid Related allowance recorded Non-PCI impaired loans and leases Construction and land development - commercial $ 788 $ — $ 788 $ 1,110 $ 185 Commercial mortgage 39,135 34,520 73,655 78,936 3,648 Other commercial real estate 1,351 506 1,857 2,267 209 Commercial and industrial and leases 8,216 1,672 9,888 13,046 1,062 Other — 521 521 521 — Residential mortgage 19,135 18,707 37,842 39,946 2,733 Revolving mortgage 5,875 17,895 23,770 25,941 1,085 Construction and land development - noncommercial 592 3,959 4,551 5,224 68 Consumer 2,107 667 2,774 3,043 738 Total non-PCI impaired loans and leases $ 77,199 $ 78,447 $ 155,646 $ 170,034 $ 9,728 Non-PCI impaired loans less than $500,000 that are collectively evaluated were $47.1 million and $49.1 million at December 31, 2018 , and 2017 , respectively. The following tables show the average non-PCI impaired loan balance and the interest income recognized by loan class for the years ended December 31, 2018 , 2017 and 2016 : Year ended December 31, 2018 (Dollars in thousands) YTD Average Balance YTD Interest Income Recognized Non-PCI impaired loans and leases: Construction and land development - commercial $ 1,734 $ 84 Commercial mortgage 65,943 2,569 Other commercial real estate 1,225 43 Commercial and industrial and leases 9,560 364 Other 135 3 Residential mortgage 41,368 1,237 Revolving mortgage 26,759 900 Construction and land development - noncommercial 3,677 172 Consumer 2,722 116 Total non-PCI impaired loans and leases $ 153,123 $ 5,488 Year ended December 31, 2017 Non-PCI impaired loans and leases: Construction and land development - commercial $ 858 $ 37 Commercial mortgage 73,815 2,596 Other commercial real estate 1,642 34 Commercial and industrial and leases 11,600 427 Other 426 22 Residential mortgage 33,818 990 Revolving mortgage 14,022 436 Construction and land development - noncommercial 3,383 145 Consumer 2,169 103 Total non-PCI impaired loans and leases $ 141,733 $ 4,790 Year ended December 31, 2016 Non-PCI impaired loans and leases: Construction and land development - commercial $ 2,700 $ 138 Commercial mortgage 82,146 2,671 Other commercial real estate 1,112 38 Commercial and industrial and leases 13,185 480 Other 687 33 Residential mortgage 26,774 805 Revolving mortgage 6,915 171 Construction and land development - noncommercial 983 50 Consumer 1,480 80 Total non-PCI impaired loans and leases $ 135,982 $ 4,466 |
Premises and Equipment
Premises and Equipment | 12 Months Ended |
Dec. 31, 2018 | |
Property, Plant and Equipment [Abstract] | |
Premises and Equipment | PREMISES AND EQUIPMENT Major classifications of premises and equipment at December 31, 2018 and 2017 are summarized as follows: (Dollars in thousands) Useful Life ( years ) 2018 2017 Land indefinite $ 306,734 $ 290,990 Premises and leasehold improvements 3 - 40 1,228,582 1,158,699 Furniture and equipment 3 - 10 560,923 489,067 Total 2,096,239 1,938,756 Less accumulated depreciation and amortization 892,060 800,325 Total premises and equipment $ 1,204,179 $ 1,138,431 Depreciation and amortization expense was $96.8 million , $90.8 million and $88.8 million for the years ended December 31, 2018, 2017 and 2016, respectively. BancShares leases certain premises and equipment under various lease agreements that provide for payment of property taxes, insurance and maintenance costs. Operating leases frequently provide for one or more renewal options either on the same basis as current rental terms or increased rents with cost of living escalation clauses, while others can also include purchase options. Future minimum rental commitments for noncancellable operating leases with initial or remaining terms of one or more years consisted of the following at December 31, 2018 : (Dollars in thousands) Year ended December 31 2019 $ 18,058 2020 16,377 2021 14,564 2022 12,381 2023 10,434 Thereafter 38,494 Total minimum payments $ 110,308 Total rent expense for all operating leases amounted to $15.5 million in 2018 , $15.2 million in 2017 and $13.0 million in 2016 , net of rent income, which was $7.8 million , $6.6 million and $6.5 million during 2018 , 2017 and 2016 , respectively. |
Other Real Estate Owned
Other Real Estate Owned | 12 Months Ended |
Dec. 31, 2018 | |
Banking and Thrift [Abstract] | |
Other Real Estate Owned | OTHER REAL ESTATE OWNED (OREO) The following table explains changes in other real estate owned during 2018 and 2017 . (Dollars in thousands) Total Balance at January 1, 2017 $ 61,231 Additions 34,980 Additions acquired in the Guaranty acquisition 55 Sales (40,709 ) Write-downs (4,460 ) Balance at December 31, 2017 51,097 Additions 24,997 Additions acquired in the HomeBancorp acquisition 2,135 Additions acquired in the Palmetto Heritage acquisition 2,319 Sales (28,128 ) Write-downs (4,390 ) Balance at December 31, 2018 $ 48,030 At December 31, 2018 and 2017 , BancShares had $17.2 million and $19.8 million , respectively, of foreclosed residential real estate property in OREO. The recorded investment in consumer mortgage loans collateralized by residential real estate property in the process of foreclosure was $22.0 million and $26.9 million at December 31, 2018 , and December 31, 2017 , respectively. |
FDIC Shared-Loss Payable
FDIC Shared-Loss Payable | 12 Months Ended |
Dec. 31, 2018 | |
FDIC Shared-Loss Receivable [Abstract] | |
Receivable from FDIC for Loss Share Agreements | FDIC SHARED-LOSS PAYABLE At December 31, 2018 , shared-loss protection remains for single family residential loans acquired in the amount of $55.6 million . The shared-loss agreements for two FDIC-assisted transactions include provisions related to payments that may be owed to the FDIC at the termination of the agreements (clawback liability) . The clawback liability represents a payment by BancShares to the FDIC if actual cumulative losses on acquired covered assets are lower than the cumulative losses originally estimated by the FDIC at the time of acquisition. As of December 31, 2018 and December 31, 2017 , the estimated clawback liability was $105.6 million and $101.3 million , respectively. The clawback liability payment dates are March 2020 and March 2021. The following table provides changes in the FDIC shared-loss payable for the years ended December 31, 2018 and December 31, 2017 . (Dollars in thousands) 2018 2017 Beginning balance $ 101,342 $ 97,008 Accretion 4,023 3,851 Adjustments related to changes in assumptions 253 483 Ending balance $ 105,618 $ 101,342 |
Deposits
Deposits | 12 Months Ended |
Dec. 31, 2018 | |
Deposits [Abstract] | |
Deposits | DEPOSITS Deposits at December 31 , 2018 and 2017 were as follows: (Dollars in thousands) 2018 2017 Demand $ 11,882,670 $ 11,237,375 Checking with interest 5,338,511 5,230,060 Money market accounts 8,194,818 8,059,271 Savings 2,499,750 2,340,449 Time 2,756,711 2,399,120 Total deposits $ 30,672,460 $ 29,266,275 Time deposits with a denomination of $250,000 or more were $567.3 million and $414.0 million at December 31, 2018 and 2017 , respectively. At December 31, 2018 , the scheduled maturities of time deposits were: (Dollars in thousands) Year ended December 31 2019 $ 1,895,313 2020 518,504 2021 115,643 2022 194,413 2023 32,838 Thereafter — Total time deposits $ 2,756,711 |
Short-Term Borrowings
Short-Term Borrowings | 12 Months Ended |
Dec. 31, 2018 | |
Short-term Debt [Abstract] | |
Short-term Borrowings | SHORT-TERM BORROWINGS Short-term borrowings at December 31 , 2018 and 2017 are as follows: (Dollars in thousands) 2018 2017 Repurchase agreements $ 543,936 $ 586,171 Notes payable to Federal Home Loan Banks 28,500 90,000 Federal funds purchased — 2,551 Subordinated notes payable — 15,000 Unamortized purchase accounting adjustments (149 ) 85 Total short-term borrowings $ 572,287 $ 693,807 At December 31, 2018 , BancShares had unused credit lines allowing contingent access to overnight borrowings of up to $690.0 million on an unsecured basis. Additionally, under borrowing arrangements with the FRB of Richmond and FHLB of Atlanta, BancShares has access to an additional $8.38 billion on a secured basis. |
Repurchase Agreements
Repurchase Agreements | 12 Months Ended |
Dec. 31, 2018 | |
Repurchase Agreements [Abstract] | |
Repurchase Agreements, Resale Agreements, Securities Borrowed, and Securities Loaned Disclosure [Text Block] | NOTE K REPURCHASE AGREEMENTS BancShares utilizes securities sold under agreements to repurchase to facilitate the needs of customers and secure wholesale funding needs. Repurchase agreements are transactions whereby BancShares offers to sell to a counterparty an undivided interest in an eligible security at an agreed upon purchase price, and which obligates BancShares to repurchase the security on an agreed upon date at an agreed upon repurchase price plus interest at an agreed upon rate. Securities sold under agreements to repurchase are recorded at the amount of cash received in connection with the transaction and are generally reflected as short-term borrowings on the Consolidated Balance Sheets. BancShares monitors collateral levels on a continuous basis and maintains records of each transaction specifically describing the applicable security and the counterparty’s fractional interest in that security, and segregates the security from general assets in accordance with regulations governing custodial holdings of securities. The primary risk with repurchase agreements is market risk associated with the investments securing the transactions, as additional collateral may be required based on fair value changes of the underlying investments. Securities pledged as collateral under repurchase agreements are maintained with safekeeping agents. The carrying value of available for sale investment securities pledged as collateral under repurchase agreements was $598.6 million and $684.2 million at December 31, 2018 and December 31, 2017 , respectively. The remaining contractual maturity of the securities sold under agreements to repurchase by class of collateral pledged included repurchase agreements totaling $543.9 million at December 31, 2018 and $556.2 million at December 31, 2017 with overnight and continuous remaining contractual maturities collateralized by U.S. Treasury securities. At December 31, 2017 , there also were repurchase agreements with a remaining contractual maturity of 30-90 days totaling $30.0 million for a gross amount of $586.2 million that were collateralized by U.S. Treasury securities. |
Long-Term Obligations
Long-Term Obligations | 12 Months Ended |
Dec. 31, 2018 | |
Long-term Obligations [Abstract] | |
Long-term Obligations | LONG-TERM OBLIGATIONS Long-term obligations at December 31 , 2018 and 2017 include: (Dollars in thousands) 2018 2017 Junior subordinated debenture at 3-month LIBOR plus 1.75 percent maturing June 30, 2036 $ 88,145 $ 90,207 Junior subordinated debenture at 3-month LIBOR plus 2.25 percent maturing June 15, 2034 19,588 19,588 Junior subordinated debenture at 3-month LIBOR plus 2.85 percent maturing April 7, 2034 10,310 10,310 Junior subordinated debenture at 3-month LIBOR plus 2.00 percent maturing July 7, 2036 4,124 — Junior subordinated debentures at 7.00 percent maturing December 31, 2026 20,000 — Obligations under capitalized leases extending to December 2050 13,160 7,795 Notes payable to Federal Home Loan Bank of Atlanta with rates ranging from 1.64 percent to 3.06 percent and maturing through August 2023 165,205 745,221 Unamortized purchase accounting adjustments (1,426 ) (2,964 ) Other long-term debt 761 83 Total long-term obligations $ 319,867 $ 870,240 At December 31, 2018 and December 31, 2017 , $122.2 million and $120.1 million , respectively, in junior subordinated debentures representing obligations to FCB/NC Capital Trust III, FCB/SC Capital Trust II, SCB Capital Trust I, and CCBI Capital Trust I special purpose entities and grantor trusts for $118.5 million and $116.5 million , on each of those dates, of trust preferred securities. FCB/NC Capital Trust III, FCB/SC Capital Trust II, SCB Capital Trust I, and CCBI Capital Trust I's (the Trusts) trust preferred securities mature in 2036, 2034, 2034, and 2036, respectively, and may be redeemed at par in whole or in part at any time. BancShares has guaranteed all obligations of its two subsidiaries, FCB Capital Trust III or FCB/SC Capital Trust I. FCB has guaranteed all obligations of its two trust subsidiaries, SCB Capital Trust I and CCBI Capital Trust I. The CCBI Capital Trust I was acquired from Capital Commerce during the fourth quarter of 2018. At December 31, 2018, long-term obligations included $20.0 million in junior subordinated debentures maturing in 2026, acquired from HomeBancorp during the second quarter of 2018. Long-term obligations maturing in each of the five years subsequent to December 31, 2018 and thereafter include: Year ended December 31 2019 $ 10,000 2020 12,693 2021 14,732 2022 13,754 2023 125,500 Thereafter 143,188 Total long-term obligations $ 319,867 |
Estimated Fair Values
Estimated Fair Values | 12 Months Ended |
Dec. 31, 2018 | |
Fair Value Disclosures [Abstract] | |
Estimated Fair Values | ESTIMATED FAIR VALUES Fair value represents the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants as of the measurement date. BancShares estimates fair value using discounted cash flows or other valuation techniques when there is no active market for a financial instrument. Inputs used in these valuation techniques are subjective in nature, involve uncertainties and require significant judgment. Therefore, the derived fair value estimates presented below are not necessarily indicative of the amounts BancShares would realize in a current market exchange. Assets and liabilities are recorded at fair value according to a fair value hierarchy comprised of three levels. The levels are based on the markets in which the assets and liabilities are traded and the reliability of the assumptions used to determine fair value. The level within the fair value hierarchy for an asset or liability is based on the lowest level of input that is significant to the fair value measurement (with Level 1 inputs considered highest and Level 3 inputs considered lowest). A brief description of each input level follows: • Level 1 inputs are quoted prices in active markets for identical assets and liabilities. • Level 2 inputs are quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the assets or liabilities and market corroborated inputs. • Level 3 inputs are unobservable inputs for the asset or liability. These unobservable inputs and assumptions reflect estimates that market participants would use in pricing the asset or liability. BancShares' management reviews any changes to its valuation methodologies to ensure they are appropriate and supportable, and refines valuation methodologies as more market-based data becomes available. Transfers between levels of the fair value hierarchy are recognized at the end of the reporting period. The methodologies used to estimate the fair value of financial assets and financial liabilities are discussed below. Investment securities available for sale . Investment securities available for sale are carried at fair value. U.S. Treasury, government agency and mortgage-backed securities are generally measured at fair value using a third party pricing service. The third party provider evaluates securities based on comparable investments with trades and market data and utilizes pricing models that use a variety of inputs, such as benchmark yields, reported trades, broker-dealer quotes, issuer spreads, benchmark securities, bids and offers, as needed. These securities are generally classified as Level 2. Corporate bonds and other, which consist of trust preferred securities, are generally measured at fair value based on indicative bids from broker-dealers that are not directly observable. These securities are considered Level 3. Marketable equity securities. Equity securities are measured at fair value using observable closing prices. The valuation also considers the amount of market activity by examining the trade volume of each security. Equity securities are classified as Level 1 if they are traded in an active market and as Level 2 if the observable closing price is from a less than active market. Loans held for sale. Certain residential real estate loans that are originated to be sold to investors are carried at fair value based on quoted market prices for similar types of loans. Accordingly, the inputs used to calculate fair value of originated residential real estate loans held for sale are considered Level 2 inputs. Portfolio loans that are subsequently transferred to held for sale to be sold in the secondary market are transferred at fair value. The fair value of the transferred portfolio loans is based on quoted prices that are considered Level 1 inputs. Net loans and leases (Non-PCI and PCI). Fair value is estimated based on discounted future cash flows using the current interest rates at which loans with similar terms would be made to borrowers of similar credit quality. The inputs used in the fair value measurements for loans and leases are considered Level 3 inputs. FHLB stock . The carrying amount of FHLB stock is a reasonable estimate of fair value, as these securities are not readily marketable and are evaluated for impairment based on the ultimate recoverability of the par value. BancShares considers positive and negative evidence, including the profitability and asset quality of the issuer, dividend payment history and recent redemption experience, when determining the ultimate recoverability of the par value. BancShares investment in FHLB stock is ultimately recoverable at par. The inputs used in the fair value measurement for the FHLB stock are considered Level 2 inputs. Mortgage and other servicing rights. Mortgage and other servicing rights are carried at the lower of amortized cost or market and are, therefore, carried at fair value only when fair value is less than the amortized cost. The fair value of mortgage and other servicing rights is performed using a pooling methodology. Similar loans are pooled together and a model that relies on discount rates, estimates of prepayment rates and the weighted average cost to service the loans is used to determine the fair value. The inputs used in the fair value measurement for mortgage and other servicing rights are considered Level 3 inputs. Deposits. For non-time deposits, carrying value is a reasonable estimate of fair value. The fair value of time deposits is estimated by discounting future cash flows using the interest rates currently offered for deposits of similar remaining maturities. The inputs used in the fair value measurement for deposits are considered Level 2 inputs. Long-term obligations. For long-term obligations, the fair values are determined based on recent trades or sales of the actual security if available; otherwise, fair values are estimated by discounting future cash flows using current interest rates for similar financial instruments. The inputs used in the fair value measurement for long-term obligations are considered Level 2 inputs. Payable to the FDIC for shared-loss agreements. The fair value of the payable to the FDIC for shared-loss agreements is determined by the projected cash flows based on expected payments to the FDIC in accordance with the shared-loss agreements. Cash flows are discounted using current discount rates to reflect the timing of the estimated amounts due to the FDIC. The inputs used in the fair value measurement for the payable to the FDIC are considered Level 3 inputs. Off-balance-sheet commitments and contingencies. Carrying amounts are reasonable estimates of the fair values for such financial instruments. Carrying amounts include unamortized fee income and, in some cases, reserves for any credit losses from those financial instruments. These amounts are not material to BancShares' financial position. For all other financial assets and financial liabilities, the carrying value is a reasonable estimate of the fair value as of December 31, 2018 and 2017 . The carrying value and fair value for these assets and liabilities are equivalent because they are relatively short term in nature and there is no interest rate or credit risk that would cause the fair value to differ from the carrying value. Cash and due from banks is classified on the fair value hierarchy as Level 1. Overnight investments, income earned not collected, short-term borrowings and accrued interest payable are considered Level 2. The table presents the carrying values and estimated fair values for financial instruments as of December 31, 2018 and 2017. December 31, 2018 December 31, 2017 (Dollars in thousands) Carrying value Fair value Carrying value Fair value Cash and due from banks $ 327,440 $ 327,440 $ 336,150 $ 336,150 Overnight investments 797,406 797,406 1,387,927 1,387,927 Investment securities available for sale 4,557,110 4,557,110 7,180,180 7,180,180 Investment securities held to maturity 2,184,653 2,201,502 76 81 Marketable equity securities 92,599 92,599 — — Loans held for sale 45,505 45,505 51,179 51,179 Net loans and leases 25,299,564 24,845,060 23,374,932 22,257,803 Income earned not collected 109,903 109,903 95,249 95,249 Federal Home Loan Bank stock 25,304 25,304 52,685 52,685 Mortgage and other servicing rights 24,066 29,532 21,945 26,170 Deposits 30,672,460 30,623,214 29,266,275 29,230,768 Short-term borrowings 572,287 572,287 693,807 693,807 Long-term obligations 319,867 332,678 870,240 852,112 Payable to the FDIC for shared-loss agreements 105,618 105,846 101,342 102,684 Accrued interest payable 3,712 3,712 3,952 3,952 Among BancShares’ assets and liabilities, investment securities available for sale, marketable equity securities and loans held for sale are reported at their fair values on a recurring basis. For assets and liabilities carried at fair value on a recurring basis, the following table provides fair value information as of December 31, 2018 and December 31, 2017 . December 31, 2018 Fair value measurements using: (Dollars in thousands) Fair value Level 1 Level 2 Level 3 Assets measured at fair value Investment securities available for sale U.S. Treasury $ 1,247,710 $ — $ 1,247,710 $ — Government agency 256,835 — 256,835 — Mortgage-backed securities 2,909,339 — 2,909,339 — Corporate bonds 139,101 — — 139,101 Other 4,125 — — 4,125 Total investment securities available for sale $ 4,557,110 $ — $ 4,413,884 $ 143,226 Marketable equity securities $ 92,599 $ 17,887 $ 74,712 — Loans held for sale $ 45,505 $ — $ 45,505 $ — December 31, 2017 Fair value measurements using: Fair value Level 1 Level 2 Level 3 Assets measured at fair value Investment securities available for sale U.S. Treasury $ 1,657,864 $ — $ 1,657,864 $ — Government agency 8,670 — 8,670 — Mortgage-backed securities 5,340,756 — 5,340,756 — Marketable equity securities 105,208 19,341 85,867 — Corporate bonds 59,963 — 59,963 — Other 7,719 — 7,719 — Total investment securities available for sale $ 7,180,180 $ 19,341 $ 7,160,839 $ — Loans held for sale $ 51,179 $ — $ 51,179 $ — During the year ended December 31, 2018 , $59.7 million of corporate bonds and $5.6 million of other investment securities available for sale were transferred from Level 2 to Level 3. The transfers were due to a lack of observable inputs and trade activity for those securities. There were no transfers between levels during the year ended December 31, 2017 . The following table summarizes activity for Level 3 assets: December 31, 2018 (Dollars in thousands) Corporate bonds Other Balance at January 1, 2018 $ — $ — Transfers in 59,653 5,618 Amounts included in net income 169 22 Unrealized net (losses) gains included in other comprehensive income (1,043 ) 122 Acquisition 82,727 — Sales / Calls (2,405 ) (1,637 ) Balance at December 31, 2018 $ 139,101 $ 4,125 The following table presents quantitative information about Level 3 fair value measurements for fair value on a recurring basis at December 31, 2018 . (Dollars in thousands) December 31, 2018 Level 3 assets Valuation technique Significant unobservable input Fair Value Corporate bonds Indicative bid provided by broker Multiple factors, including but not limited to, current operations, financial condition, cash flows, and recently executed financing transactions related to the company $ 139,101 Other Indicative bid provided by broker Multiple factors, including but not limited to, current operations, financial condition, cash flows, and recently executed financing transactions related to the company 4,125 Fair Value Option BancShares has elected the fair value option for residential real estate loans originated to be sold. This election reduces certain timing differences in the Consolidated Statements of Income and better aligns with the management of the portfolio from a business perspective. The changes in fair value are recorded as a component of mortgage income in the Consolidated Statements of Income and were gains of $50 thousand and $2.9 million for the years ended December 31, 2018 and 2017 , respectively, and a loss of $2.4 million for the year ended December 31, 2016 . The following table summarizes the difference between the aggregate fair value and the unpaid principal balance for residential real estate originated for sale measured at fair value as of December 31, 2018 and 2017 . December 31, 2018 (Dollars in thousands) Fair Value Unpaid Principal Balance Difference Originated loans held for sale $ 45,505 $ 44,073 $ 1,432 December 31, 2017 Fair Value Unpaid Principal Balance Difference Originated loans held for sale $ 51,179 $ 49,796 $ 1,383 No originated loans held for sale were 90 or more days past due or on nonaccrual status as of December 31, 2018 or December 31, 2017 . Certain other assets are adjusted to their fair value on a nonrecurring basis, including impaired loans, OREO and goodwill, which are periodically tested for impairment, and mortgage servicing rights, which are carried at the lower of amortized cost or market. Non-impaired loans held for investment, deposits, short-term borrowings and long-term obligations are not reported at fair value. Impaired loans are considered to be at fair value if an associated allowance adjustment or current period charge-off has been recorded. The value of impaired loans is determined by either collateral valuations or discounted present value of the expected cash flow calculations. Collateral values are determined using appraisals or other third-party value estimates of the subject property with discounts generally between 6 and 11 percent applied for estimated selling costs and other external factors that may impact the marketability of the property. Expected cash flows are determined using expected payment information at the individual loan level, discounted using the effective interest rate. The effective interest rate generally ranges between 1 and 14 percent. OREO that has been acquired or written down in the current year is considered to be at fair value, which uses asset valuations. Asset values are determined using appraisals or other third-party value estimates of the subject property with discounts generally between 6 and 11 percent applied for estimated selling costs and other external factors that may impact the marketability of the property. Changes to the value of the assets between scheduled valuation dates are monitored through continued communication with brokers and monthly reviews by the asset manager assigned to each asset. If there are any significant changes in the market or the subject property, valuations are adjusted or new appraisals ordered to ensure the reported values reflect the most current information. For financial assets and liabilities carried at fair value on a nonrecurring basis, the following table provides fair value information as of December 31, 2018 and December 31, 2017 . December 31, 2018 Fair value measurements using: (Dollars in thousands) Fair value Level 1 Level 2 Level 3 Impaired loans $ 105,994 $ — $ — $ 105,994 Other real estate remeasured during current year 35,344 — — 35,344 December 31, 2017 Fair value measurements using: Fair value Level 1 Level 2 Level 3 Impaired loans $ 72,539 $ — $ — $ 72,539 Other real estate remeasured during current year 40,167 — — 40,167 No financial liabilities were carried at fair value on a nonrecurring basis as of December 31, 2018 and December 31, 2017 . |
Employee Benefit Plans
Employee Benefit Plans | 12 Months Ended |
Dec. 31, 2018 | |
Retirement Benefits, Description [Abstract] | |
Employee Benefit Plans | EMPLOYEE BENEFIT PLANS FCB sponsors benefit plans for its qualifying employees and former First Citizens Bancorporation, Inc. employees (legacy Bancorporation) including noncontributory defined benefit pension plans, a 401(k) savings plan and an enhanced 401(k) savings plan. These plans are qualified under the Internal Revenue Code. FCB also maintains agreements with certain executives that provide supplemental benefits that are paid upon death or separation from service at an agreed-upon age. Defined Benefit Pension Plans Employees who were hired prior to April 1, 2007 and qualified under length of service and other requirements are covered by a noncontributory defined benefit pension plan (BancShares Plan). The BancShares Plan was closed to new participants as of April 1, 2007. Retirement benefits are based on years of service and highest annual compensation for five consecutive years during the last ten years of employment. Covered employees were fully vested in the BancShares Plan after five years of service. FCB makes contributions to the pension plan in amounts between the minimum required for funding and the maximum amount deductible for federal income tax purposes. Discretionary contributions of $50.0 million were made to the BancShares Plan during both 2018 and 2017 . Management evaluates the need for its pension plan contributions on a periodic basis based upon numerous factors including, but not limited to, the funded status of and returns on the BancShares Plan, discount rates and the current economic environment. Certain legacy Bancorporation employees who qualified under length of service and other requirements are covered by a noncontributory defined benefit pension plan (Bancorporation Plan). The Bancorporation Plan was closed to new participants as of September 1, 2007. Retirement benefits are based on years of service and highest average annual compensation for five consecutive years during the last ten years of employment. Covered employees were fully vested in the Bancorporation Plan after five years of service. FCB makes contributions to the Bancorporation Plan in amounts between the minimum required for funding and the maximum amount deductible for federal income tax purposes. No contributions were made to the Bancorporation Plan for 2018 and 2017 . Management evaluates the need for its pension plan contributions on a periodic basis based upon numerous factors including, but not limited to, the funded status of and returns on the Bancorporation Plan, discount rates and the current economic environment. Obligations and Funded Status BancShares Plan The following table provides the changes in benefit obligation and plan assets and the funded status of the plan at December 31, 2018 and 2017 . (Dollars in thousands) 2018 2017 Change in benefit obligation Projected benefit obligation at January 1 $ 749,948 $ 673,227 Service cost 13,582 12,638 Interest cost 28,376 28,940 Actuarial (gain) loss (77,484 ) 57,041 Benefits paid (23,507 ) (21,898 ) Projected benefit obligation at December 31 690,915 749,948 Change in plan assets Fair value of plan assets at January 1 712,999 600,616 Actual return on plan assets (48,025 ) 84,281 Employer contributions 50,000 50,000 Benefits paid (23,507 ) (21,898 ) Fair value of plan assets at December 31 691,467 712,999 Funded status at December 31 $ 552 $ (36,949 ) The amounts recognized in the consolidated balance sheets at December 31, 2018 and 2017 consist of: (Dollars in thousands) 2018 2017 Other assets $ 552 $ — Other liabilities — (36,949 ) Net asset (liability) recognized $ 552 $ (36,949 ) The following table details the amounts recognized in accumulated other comprehensive income at December 31, 2018 and 2017 . (Dollars in thousands) 2018 2017 Net loss $ 130,564 $ 125,745 Prior service cost 57 137 Accumulated other comprehensive loss, excluding income taxes $ 130,621 $ 125,882 The following table provides expected amortization amounts for 2019 . (Dollars in thousands) Actuarial loss $ 8,455 Prior service cost 57 Total $ 8,512 The accumulated benefit obligation for the plan at December 31, 2018 and 2017 , was $626.7 million and $659.0 million , respectively. The BancShares Plan uses a measurement date of December 31 . The fair value of plan assets exceeded the projected benefit obligation as of December 31, 2018 and the projected benefit obligation exceeded the fair value of plan assets as of December 31, 2017 . The fair value of plan assets exceeded the accumulated benefit obligation as of December 31, 2018 and 2017 . The following table shows the components of periodic benefit cost related to the pension plan and changes in plan assets and benefit obligations recognized in OCI for the years ended December 31, 2018, 2017 and 2016 . Year ended December 31 (Dollars in thousands) 2018 2017 2016 Service cost $ 13,582 $ 12,638 $ 12,618 Interest cost 28,376 28,940 28,892 Expected return on assets (47,867 ) (42,074 ) (36,643 ) Amortization of prior service cost 79 210 210 Amortization of net actuarial loss 13,589 8,855 6,859 Total net periodic benefit cost 7,759 8,569 11,936 Current year actuarial loss 18,407 14,834 56,268 Amortization of actuarial loss (13,589 ) (8,855 ) (6,859 ) Amortization of prior service cost (79 ) (210 ) (210 ) Total recognized in other comprehensive income 4,739 5,769 49,199 Total recognized in net periodic benefit cost and other comprehensive income $ 12,498 $ 14,338 $ 61,135 The assumptions used to determine the benefit obligations at December 31, 2018 and 2017 are as follows: (Dollars in thousands) 2018 2017 Discount rate 4.38 % 3.76 % Rate of compensation increase 5.60 4.00 The assumptions used to determine the net periodic benefit cost for the years ended December 31, 2018, 2017 and 2016 , are as follows: (Dollars in thousands) 2018 2017 2016 Discount rate 3.76 % 4.30 % 4.68 % Rate of compensation increase 4.00 4.00 4.00 Expected long-term return on plan assets 7.50 7.50 7.50 The estimated discount rate, which represents the interest rate that could be obtained for a suitable investment used to fund the benefit obligations, is based on a yield curve developed from high-quality corporate bonds across a full maturity spectrum. The projected cash flows of the pension plan are discounted based on this yield curve and a single discount rate is calculated to achieve the same present value. The weighted average expected long-term rate of return on BancShares Plan assets represents the average rate of return expected to be earned on BancShares Plan assets over the period the benefits included in the benefit obligation are to be paid. In developing the expected rate of return, historical and current returns, as well as investment allocation strategies, on BancShares Plan assets are considered. Bancorporation Plan The following table provides the changes in benefit obligation and plan assets and the funded status of the plan at December 31, 2018 and 2017 . (Dollars in thousands) 2018 2017 Change in benefit obligation Projected benefit obligation at January 1 $ 169,480 $ 156,831 Service cost 2,572 2,548 Interest cost 6,357 6,653 Actuarial (gain) loss (10,268 ) 9,168 Benefits paid (6,081 ) (5,720 ) Projected benefit obligation at December 31 162,060 169,480 Change in plan assets Fair value of plan assets at January 1 168,591 152,084 Actual return on plan assets (11,443 ) 22,227 Benefits paid (6,081 ) (5,720 ) Fair value of plan assets at December 31 151,067 168,591 Funded status at December 31 $ (10,993 ) $ (889 ) The amounts recognized in the Consolidated Balance Sheets at December 31, 2018 and 2017 consist of: (Dollars in thousands) 2018 2017 Other assets $ — $ — Other liabilities (10,993 ) (889 ) Net liability recognized $ (10,993 ) $ (889 ) The following table details the amounts recognized in accumulated other comprehensive loss at December 31, 2018 and 2017 . (Dollars in thousands) 2018 2017 Net loss $ 32,409 $ 19,117 Prior service cost — — Accumulated other comprehensive loss, excluding income taxes $ 32,409 $ 19,117 The following table provides expected amortization amounts for 2019 . (Dollars in thousands) Actuarial loss $ 2,505 Prior service cost — Total $ 2,505 The accumulated benefit obligation for the plan at December 31, 2018 and 2017 , was $152.3 million and $157.6 million , respectively. The Bancorporation Plan uses a measurement date of December 31 . The projected benefit obligation exceeded the fair value of plan assets as of December 31, 2018 and 2017 . The accumulated benefit obligation exceeded the fair value of plan assets as of December 31, 2018 and the fair value of plan assets exceeded the accumulated benefit obligation as of December 31, 2017 . The following table shows the components of periodic benefit cost related to the pension plan and changes in plan assets and benefit obligations recognized in OCI for the years ended December 31, 2018, 2017 and 2016 . Year ended December 31 (Dollars in thousands) 2018 2017 2016 Service cost $ 2,572 $ 2,548 $ 2,567 Interest cost 6,357 6,653 6,775 Expected return on assets (12,429 ) (11,170 ) (11,101 ) Amortization of net actuarial loss 313 655 — Total net periodic benefit income (3,187 ) (1,314 ) (1,759 ) Current year actuarial gain (loss) 13,605 (1,889 ) 14,157 Amortization of actuarial loss (313 ) (655 ) — Total recognized in other comprehensive income 13,292 (2,544 ) 14,157 Total recognized in net periodic benefit cost and other comprehensive income $ 10,105 $ (3,858 ) $ 12,398 The assumptions used to determine the benefit obligations at December 31, 2018 and 2017 are as follows: (Dollars in thousands) 2018 2017 Discount rate 4.38 % 3.76 % Rate of compensation increase 5.60 4.00 The assumptions used to determine the net periodic benefit cost for the years ended December 31, 2018, 2017 and 2016 are as follows: (Dollars in thousands) 2018 2017 2016 Discount rate 3.76 % 4.30 % 4.68 % Rate of compensation increase 4.00 4.00 4.00 Expected long-term return on plan assets 7.50 7.50 7.50 The estimated discount rate, which represents the interest rate that could be obtained for a suitable investment used to fund the benefit obligations, is based on a yield curve developed from high-quality corporate bonds across a full maturity spectrum. The projected cash flows of the pension plan are discounted based on this yield curve and a single discount rate is calculated to achieve the same present value. The weighted average expected long-term rate of return on Bancorporation Plan assets represents the average rate of return expected to be earned on Bancorporation Plan assets over the period the benefits included in the benefit obligation are to be paid. In developing the expected rate of return, historical and current returns, as well as investment allocation strategies, on Bancorporation Plan assets are considered. Plan Assets For the BancShares Plan and Bancorporation Plan, our primary total return objective is to achieve returns that, over the long term, will fund retirement liabilities and provide for the desired plan benefits in a manner that satisfies the fiduciary requirements of the Employee Retirement Income Security Act. The plan assets have a long-term time horizon that runs concurrent with the average life expectancy of the participants. As such, the Plans can assume a time horizon that extends well beyond a full market cycle and can assume a reasonable level of risk. It is expected, however, that both professional investment management and sufficient portfolio diversification will smooth volatility and help to generate a reasonable consistency of return. The investments are broadly diversified across global, economic and market risk factors in an attempt to reduce volatility and target multiple return sources. Within approved guidelines and restrictions, the investment manager has discretion over the timing and selection of individual investments. Plan assets are currently held by The FCB Trust Department. BancShares Plan The fair values of pension plan assets at December 31, 2018 and 2017 , by asset class are as follows: December 31, 2018 (Dollars in thousands) Market Value Quoted prices in Significant Significant Target Allocation Actual % Cash and equivalents $ 16,236 $ 16,236 — — 0 - 5% 2 % Equity securities 30 - 70% 64 % Common and preferred stock 117,300 117,300 — — Mutual funds 321,023 319,254 1,769 — Fixed income 15 - 45% 30 % U.S. government and government agency securities 65,545 — 65,545 — Corporate bonds 119,469 — 119,469 — Mutual funds 23,813 23,813 — — Alternative investments 0 - 30% 4 % Mutual funds 28,081 28,081 — — Total pension assets $ 691,467 $ 504,684 $ 186,783 $ — 100 % December 31, 2017 Market Value Quoted prices in Significant Significant Target Allocation Actual % Cash and equivalents $ 67,084 $ 67,084 $ — $ — 0 - 5% 9 % Equity securities 30 - 70% 65 % Common and preferred stock 76,920 76,920 — — Mutual funds 381,747 360,175 21,572 — Fixed income 15 - 45% 23 % U.S. government and government agency securities 60,663 — 60,663 — Corporate bonds 83,571 — 83,571 — Mutual funds 20,497 20,497 — — Alternative investments 0 - 30% 3 % Mutual funds 22,517 22,517 — — Total pension assets $ 712,999 $ 547,193 $ 165,806 $ — 100 % Cash and equivalents comprise approximately 9 percent of BancShares actual plan assets at December 31, 2017 , exceeding the target allocation range due to the $50.0 million contribution to the plan in December 2017. Bancorporation Plan December 31, 2018 (Dollars in thousands) Market Value Quoted prices in Significant Significant Target Allocation Actual % Cash and equivalents $ 2,793 $ 2,793 $ — $ — 0 - 5% 2 % Equity securities 30 - 70% 66 % Common and preferred stock 26,639 26,639 — — Mutual funds 74,305 73,850 455 — Fixed income 15 - 45% 27 % U.S. government and government agency securities 13,749 — 13,749 — Corporate bonds 20,889 — 20,889 — Mutual funds 5,748 5,748 — — Alternative investments 0 - 30% 5 % Mutual funds 6,944 6,944 — — Total pension assets $ 151,067 $ 115,974 $ 35,093 — 100 % December 31, 2017 Market Value Quoted prices in Significant Significant Target Allocation Actual % Cash and equivalents $ 3,941 $ 3,941 $ — $ — 0 - 5% 2 % Equity securities 30 - 70% 70 % Common and preferred stock 26,892 26,892 — — Mutual funds 90,466 84,954 5,512 — Fixed income 15 - 45% 25 % U.S. government and government agency securities 15,798 — 15,798 — Corporate bonds 20,572 — 20,572 — Mutual funds 5,163 5,163 — — Alternative investments 0 - 30% 3 % Mutual funds 5,759 5,759 — — Total pension assets $ 168,591 $ 126,709 $ 41,882 — 100 % Cash Flows The following are estimated payments to pension plan participants in the indicated periods for each plan: (Dollars in thousands) BancShares Plan Bancorporation Plan 2019 $ 27,050 $ 7,044 2020 29,137 7,473 2021 31,260 7,863 2022 33,168 8,284 2023 35,031 8,685 2024-2028 201,126 48,868 401(k) Savings Plans Effective January 1, 2015, FCB merged the legacy Bancorporation 401(k) savings plan and Bancorporation enhanced 401(k) savings plan into the existing BancShares 401(k) savings plan and BancShares enhanced 401(k) savings plan. Participation in and terms of the FCB 401(k) plan and enhanced 401(k) plan did not change as a result of the mergers. Certain employees enrolled in the defined benefit plan are also eligible to participate in a 401(k) savings plan through deferral of portions of their salary. For employees who participate in the 401(k) savings plan who also continue to accrue additional years of service under the defined benefit plan, FCB makes a matching contribution equal to 100 percent of the first 3 percent and 50 percent of the next 3 percent of the participant's deferral up to and including a maximum contribution of 4.5 percent of the participant's eligible compensation. The matching contribution immediately vests. At the end of 2007, current employees were given the option to continue to accrue additional years of service under the defined benefit plan or to elect to join an enhanced 401(k) savings plan. Under the enhanced 401(k) savings plan, FCB matches up to 100 percent of the participant's deferrals not to exceed 6 percent of the participant's eligible compensation. The matching contribution immediately vests. In addition to the employer match of the employee contributions, the enhanced 401(k) savings plan provides a guaranteed contribution equal to 3 percent of the compensation of a participant who remains employed at the end of the calendar year. Employees who elected to enroll in the enhanced 401(k) savings plan discontinued the accrual of additional years of service under the defined benefit plan and became enrolled in the enhanced 401(k) savings plan effective January 1, 2008 . Eligible employees hired after January 1, 2008 , are eligible to participate in the enhanced 401(k) savings plan. FCB made participating contributions to the 401(k) plans of $28.6 million , $25.3 million and $23.5 million during 2018 , 2017 and 2016 , respectively. Additional Benefits for Executives, Directors and Officers of Acquired Entities FCB has entered into contractual agreements with certain executives that provide payments for a period of no more than ten years following separation from service that occurs no earlier than an agreed-upon age. These agreements also provide a death benefit in the event a participant dies prior to separation from service or during the payment period following separation from service. FCB has also assumed liability for contractual obligations to directors and officers of previously acquired entities. The following table provides the accrued liability as of December 31, 2018 and 2017 , and the changes in the accrued liability during the years then ended: (Dollars in thousands) 2018 2017 Present value of accrued liability as of January 1 $ 37,299 $ 38,597 Liability assumed in the Capital Commerce merger 808 — Benefit expense and interest cost 535 3,262 Benefits paid (4,579 ) (4,560 ) Present value of accrued liability as of December 31 $ 34,063 $ 37,299 Discount rate at December 31 4.38 % 3.76 % Other Compensation Plans FCB offers various short-term and long-term incentive plans for certain employees. Compensation awarded under these plans may be based on defined formulas or other performance criteria, or it may be at the discretion of management. The incentive compensation programs were designed to motivate employees through a balanced approach of risk and reward for their contributions toward FCB's success. As of December 31, 2018 and 2017 , the accrued liability for incentive compensation was $46.4 million and $33.4 million , respectively. |
Other Noninterest Income and Ot
Other Noninterest Income and Other Noninterest Expense | 12 Months Ended |
Dec. 31, 2018 | |
Noninterest Expense [Abstract] | |
Other Noninterest Income and Other Noninterest Expense | OTHER NONINTEREST INCOME AND OTHER NONINTEREST EXPENSE Other noninterest income for the years ended December 31, 2018, 2017 and 2016 was $26.0 million , $35.4 million and $34.2 million , respectively. The most significant item in other noninterest income was recoveries on PCI loans that have been previously charged-off. BancShares records the portion of recoveries not covered under shared-loss agreements as noninterest income rather than as an adjustment to the allowance for loan losses. These recoveries were $16.6 million , $21.1 million and $20.1 million for the years ended December 31, 2018, 2017 and 2016 , respectively. Charge-offs on PCI loans are recorded against the discount recognized on the date of acquisition versus through the allowance for loan losses unless an allowance was established subsequent to the acquisition date due to declining expected cash flow. Other noninterest income also includes FHLB dividends and other various income items. Other noninterest expense for the years ended December 31, 2018, 2017 and 2016 included the following: (Dollars in thousands) 2018 2017 2016 Telecommunications $ 10,471 $ 12,172 $ 14,496 Consultant 14,345 14,963 10,931 Core deposit intangible amortization 17,165 17,194 16,851 Advertising 11,650 11,227 10,239 Other 93,432 86,874 93,390 Total other noninterest expense $ 147,063 $ 142,430 $ 145,907 |
Income Taxes
Income Taxes | 12 Months Ended |
Dec. 31, 2018 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | INCOME TAXES At December 31 , 2018, 2017 and 2016 income tax expense consisted of the following: (Dollars in thousands) 2018 2017 2016 Current tax expense Federal $ 95,151 $ 87,992 $ 84,946 State 21,523 6,116 7,493 Total current tax expense 116,674 94,108 92,439 Deferred tax expense (benefit) Federal (10,944 ) 115,392 23,144 State (2,433 ) 10,446 10,002 Total deferred tax expense (benefit) (13,377 ) 125,838 33,146 Total income tax expense $ 103,297 $ 219,946 $ 125,585 Income tax expense differed from the amounts computed by applying the statutory federal income tax rate of 21 percent for 2018 and 35 percent for 2017 and 2016 to pretax income as a result of the following: (Dollars in thousands) 2018 2017 2016 Income taxes at federal statutory rates $ 105,758 $ 190,294 $ 122,874 (Reduction) increase in income taxes resulting from: Nontaxable income on loans, leases and investments, net of nondeductible expenses (1,796 ) (2,525 ) (2,901 ) Nondeductible FDIC insurance expense 2,348 — — State and local income taxes, including change in valuation allowance, net of federal income tax benefit 15,081 10,765 11,372 Effect of federal rate change (15,736 ) 25,762 — Tax credits net of amortization (2,891 ) (4,840 ) (4,138 ) Other, net 533 490 (1,622 ) Total income tax expense $ 103,297 $ 219,946 $ 125,585 The net deferred tax asset included the following components at December 31 , 2018 and 2017: (Dollars in thousands) 2018 2017 Allowance for loan and lease losses $ 53,391 $ 50,853 Pension liability — 704 Executive separation from service agreements 7,927 8,548 Net operating loss carryforwards 6,862 2,685 Net unrealized loss included in comprehensive income 32,663 10,849 Employee compensation 11,145 4,192 FDIC assisted transactions timing differences 7,622 — Other reserves 5,574 5,570 Other 9,555 5,924 Deferred tax asset 134,739 89,325 Accelerated depreciation 4,987 7,562 Lease financing activities 12,674 9,131 Net deferred loan fees and costs 10,651 8,708 Intangible assets 11,713 12,252 Security, loan and debt valuations 4,557 7,018 FDIC assisted transactions timing differences — 1,113 Pension liability 6,287 — Other 1,722 4,565 Deferred tax liability 52,591 50,349 Net deferred tax asset $ 82,148 $ 38,976 At December 31, 2018 , $28.6 million of existing gross deferred tax assets relate to federal net operating loss carryforwards and $15.4 million to state net operating loss carryforwards that expire in years beginning in 2024. The net operating losses were acquired through various acquisitions and are subject to the annual limitations set forth by Internal Revenue Code Section 382. No valuation allowance was necessary as of December 31, 2018 , to reduce BancShares’ gross deferred tax asset to the amount that is more likely than not to be realized. The Tax Act was enacted on December 22, 2017 which made broad changes to the U.S. tax code including a reduction in the federal corporate tax rate from 35 percent to 21 percent. The Securities and Exchange Commission (SEC) issued Staff Accounting Bulletin No. 118 to address uncertainty in applying ASC Topic 740 in the reporting period in which the Tax Act was enacted. Tax expense increased in the fourth quarter of 2017 by a provisional $25.8 million primarily attributable to the revaluation of our deferred tax assets to reflect the Tax Act changes. This was a provisional estimate made based upon the information available at the time of enactment. After receiving additional information during the third quarter of 2018, BancShares recorded a tax benefit of $15.7 million updating the provisional amount initially recorded in 2017. The nature of the additional information primarily related to a decision made by BancShares to accelerate deductions in its 2017 tax return which were effectuated by making an additional contribution to its pension plan and requesting an automatic change in its tax accounting method related to depreciation. Accounting for the Tax Act was completed during the fourth quarter of 2018 with no material changes. During the first quarter of 2018 , second quarter of 2017 and third quarter of 2016, BancShares adjusted its net deferred tax asset as a result of reductions in the North Carolina corporate income tax rate that were enacted June 28, 2017 and July 23, 2013, respectively. The lower corporate income tax rate resulted in a reduction in the deferred tax asset and an increase in income tax expense in 2018 , 2017 and 2016. The lower state corporate income tax rate did not have a material impact on income tax expense. BancShares' and its subsidiaries’ federal income tax returns for 2015 through 2017 remain open for examination. Generally, BancShares is no longer subject to examination by state and local taxing authorities for taxable years prior to 2012. The following table provides a rollforward of BancShares’ gross unrecognized tax benefits, excluding interest and penalties, during the years ended December 31 , 2018, 2017 and 2016: (Dollars in thousands) 2018 2017 2016 Unrecognized tax benefits at the beginning of the year $ 29,004 $ 28,879 $ 5,975 Reductions related to tax positions taken in prior year (1,054 ) (44 ) (327 ) Additions related to tax positions taken in current year 1,433 169 23,231 Reductions related to lapse of statute of limitations (1,128 ) — — Unrecognized tax benefits at the end of the year $ 28,255 $ 29,004 $ 28,879 All of the unrecognized tax benefits, if recognized, would affect BancShares’ effective tax rate. BancShares has unrecognized tax benefits relating to uncertain state tax positions in North Carolina and other state jurisdictions resulting from tax filings submitted to the states. No tax benefit has been recorded for these uncertain tax positions in the Consolidated Financial Statements. BancShares does not expect the unrecognized tax benefits to change significantly during 2019. BancShares recognizes accrued interest and penalties related to unrecognized tax benefits in income tax expense. For the years ended December 31, 2018 , 2017 and 2016 , BancShares recorded $564 thousand , $450 thousand and $357 thousand , respectively which primarily represent accrued interest. |
Transactions with Related Perso
Transactions with Related Persons | 12 Months Ended |
Dec. 31, 2018 | |
Related Party Transactions [Abstract] | |
Transactions with related persons | TRANSACTIONS WITH RELATED PERSONS BancShares has, and expects to have in the future, banking transactions in the ordinary course of business with directors, officers and their associates (Related Persons) and entities that are controlled by Related Persons. For those identified as Related Persons as of December 31, 2018 , the following table provides an analysis of changes in the loans outstanding during 2018 and 2017 : Year ended December 31 (dollars in thousands) 2018 2017 Balance at January 1 $ 74 $ 353 New loans 134 11 Repayments (9 ) (290 ) Balance at December 31 $ 199 $ 74 Unfunded loan commitments available to Related Persons were $4.3 million and $2.1 million as of December 31, 2018 and 2017 , respectively. During the third quarter of 2018, BancShares purchased 100,000 shares of its outstanding Class A common stock at a price of $465 per share from a related party. |
Goodwill and Intangible Assets
Goodwill and Intangible Assets | 12 Months Ended |
Dec. 31, 2018 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Goodwill and Intangible Assets | GOODWILL AND OTHER INTANGIBLE ASSETS Goodwill Goodwill was $236.3 million and $150.6 million at December 31, 2018 and 2017 , respectively. BancShares annual impairment test, conducted as of July 31 st , or more frequently if events occur or circumstances change that may trigger a decline in the value of the reporting unit or otherwise indicate that a potential impairment exists, resulted in no indication of goodwill impairment. Subsequent to the annual impairment test, there were no events or changes in circumstances that would indicate goodwill should be tested for impairment during the interim period between annual tests. No goodwill impairment was recorded during 2018, 2017 or 2016 . The following table presents the changes in the carrying amount of goodwill for the years ended December 31, 2018 and 2017 : (Dollars in thousands) 2018 2017 Balance at January 1 $ 150,601 $ 150,601 Acquired in the HomeBancorp acquisition 57,616 — Acquired in the Capital Commerce acquisition 10,680 — Acquired in the Palmetto Heritage acquisition 17,450 — Balance at December 31 $ 236,347 $ 150,601 Other Intangible Assets Other intangible assets includes mortgage servicing rights on loans sold to third parties with servicing retained, core deposit intangibles that represent the estimated fair value of acquired core deposits and other customer relationships, and other servicing rights acquired. Mortgage Servicing Rights Our portfolio of residential mortgage loans serviced for third parties was $2.95 billion , $2.81 billion and $2.49 billion as of December 31, 2018 , 2017 and 2016 , respectively. These loans were originated by BancShares and sold to third parties on a non-recourse basis with servicing rights retained. These retained servicing rights are recorded as a servicing asset and reported in other intangible assets on the Consolidated Balance Sheets. The mortgage servicing rights are initially recorded at fair value and then carried at the lower of amortized cost or fair market value. The activity of the servicing asset for the years ended December 31, 2018 , 2017 and 2016 is presented in the following table: (Dollars in thousands) 2018 2017 2016 Balance at January 1 $ 21,945 $ 20,415 $ 19,351 Servicing rights originated 5,258 7,174 5,931 Amortization (5,807 ) (5,648 ) (4,958 ) Valuation allowance reversal — 4 91 Balance at December 31 $ 21,396 $ 21,945 $ 20,415 The amortization expense related to mortgage servicing rights is included as a reduction of mortgage income in the Consolidated Statements of Income. Contractually specified mortgage servicing fees, late fees, and ancillary fees earned for the years ended December 31, 2018, 2017 and 2016 , were $7.5 million , $7.1 million and $5.8 million , respectively, and reported in mortgage income in the Consolidated Statements of Income. Valuation of mortgage servicing rights is performed using a pooling methodology. Similar loans are pooled together and evaluated on a discounted earnings basis to determine the present value of future earnings. Key economic assumptions used to value mortgage servicing rights as of December 31, 2018 and 2017 , were as follows: 2018 2017 Discount rate - conventional fixed loans 9.69 % 9.41 % Discount rate - all loans excluding conventional fixed loans 10.69 % 10.41 % Weighted average constant prepayment rate 9.26 % 10.93 % Weighted average cost to service a loan $ 72.65 $ 64.03 The discount rate is based on the 10-year U.S. Treasury rate plus 700 basis points for conventional fixed loans and 800 basis points for all other loans. The 700 and 800 basis points are used as a risk premium when calculating the discount rate. The repayment rate is derived from the Public Securities Association Standard Prepayment model. The average cost to service a loan is based on the number of loans serviced and the total costs to service the loans. Core Deposit Intangibles Core deposit intangibles represent the estimated fair value of core deposits and other customer relationships that were acquired. They are being amortized on an accelerated basis over their estimated useful lives. The estimated useful remaining lives range from 1 year to less than 10 years. The following information relates to other intangible assets, all customer-related, which are being amortized over their estimated useful lives: (Dollars in thousands) 2018 2017 Balance at January 1 $ 51,151 $ 57,625 Acquired in the Harvest Community Bank acquisition — 850 Acquired in the Guaranty acquisition — 9,870 Acquired in the HomeBancorp acquisition 9,860 — Acquired in the Capital Commerce acquisition 2,680 — Acquired in the Palmetto Heritage acquisition 1,706 — Amortization (17,165 ) (17,194 ) Balance at December 31 $ 48,232 $ 51,151 The gross amount of other intangible assets and accumulated amortization as of December 31, 2018 and 2017 , are: (Dollars in thousands) 2018 2017 Gross balance $ 143,007 $ 128,761 Accumulated amortization (94,775 ) (77,610 ) Carrying value $ 48,232 $ 51,151 Based on current estimated useful lives and carrying values, BancShares anticipates amortization expense for core deposit intangibles in subsequent periods will be: (Dollars in thousands) 2019 $ 14,964 2020 11,729 2021 8,706 2022 5,805 2023 and subsequent 7,028 Other Servicing Rights Other servicing rights were acquired as part of a business combination and relate to the sale of the guaranteed portion of government guaranteed loans with servicing retained. The amount of the other servicing rights were $2.7 million and $0 at December 31, 2018, and 2017, respectively. |
Shareholders' Equity, Dividends
Shareholders' Equity, Dividends Restrictions and Other Regulatory Matters | 12 Months Ended |
Dec. 31, 2018 | |
Regulatory Capital Requirements [Abstract] | |
Shareholders' Equity, Dividend Restrictions and Other Regulatory Matters | SHAREHOLDERS' EQUITY, DIVIDEND RESTRICTIONS AND OTHER REGULATORY MATTERS BancShares and FCB are required to meet minimum capital requirements set forth by regulatory authorities. The ability to undertake new business initiatives (including acquisitions), the access to and cost of funding for new business initiatives, the ability to pay dividends, the ability to repurchase shares or other capital instruments, the level of deposit insurance costs, and the level and nature of regulatory oversight depend, in large part, on a financial institution’s capital strength. Bank regulatory agencies approved regulatory capital guidelines (Basel III) aimed at strengthening existing capital requirements for banking organizations. Basel III became effective for BancShares on January 1, 2015. Under Basel III, requirements include a common equity Tier 1 ratio minimum of 4.50 percent , Tier 1 risk-based capital minimum of 6.00 percent , total risk-based capital ratio minimum of 8.00 percent and Tier 1 leverage capital ratio minimum of 4.00 percent . Failure to meet minimum capital requirements may result in certain actions by regulators that could have a direct material effect on the consolidated financial statements. Basel III also introduced a capital conservation buffer in addition to the regulatory minimum capital requirements that is being phased in annually over four years beginning January 1, 2016, at 0.625 percent of risk-weighted assets and increasing each subsequent year by an additional 0.625 percent . At January 1, 2018, the capital conservation buffer was 1.88% . As fully phased in on January 1, 2019, the capital conservation buffer is 2.50 percent . Based on the most recent notifications from its regulators, BancShares and FCB is well-capitalized under the regulatory framework for prompt corrective action. As of December 31, 2018 , BancShares and FCB met all capital adequacy requirements to which they are subject and were not aware of any conditions or events that would affect each entity's well-capitalized status. Following is an analysis of capital ratios under Basel III guidelines for BancShares and FCB as of December 31, 2018 and 2017 : December 31, 2018 December 31, 2017 (Dollars in thousands) Amount Ratio Requirements to be well-capitalized Amount Ratio Requirements to be well-capitalized BancShares Tier 1 risk-based capital $ 3,463,307 12.67 % 8.00 % $ 3,287,364 12.88 % 8.00 % Common equity Tier 1 3,463,307 12.67 6.50 3,287,364 12.88 6.50 Total risk-based capital 3,826,626 13.99 10.00 3,626,789 14.21 10.00 Leverage capital 3,463,307 9.77 5.00 3,287,364 9.47 5.00 FCB Tier 1 risk-based capital 3,315,742 12.17 8.00 3,189,709 12.54 8.00 Common equity Tier 1 3,315,742 12.17 6.50 3,189,709 12.54 6.50 Total risk-based capital 3,574,561 13.12 10.00 3,422,634 13.46 10.00 Leverage capital 3,315,742 9.39 5.00 3,189,709 9.22 5.00 BancShares and FCB had capital conservation buffers of 5.99 percent and 5.12 percent , respectively, at December 31, 2018 . These buffers exceeded the 1.88 percent requirement and, therefore, result in no limit on distributions. BancShares had no trust preferred capital securities included in Tier 1 capital at December 31, 2018 or December 31, 2017 under Basel III guidelines. Trust preferred capital securities continue to be a component of total risk-based capital. At December 31, 2018 , Tier 2 capital of BancShares included $20.0 million of qualifying subordinated debt acquired from the HomeBancorp transaction with a scheduled maturity date of December 31, 2026, compared to no amount included at December 31, 2017 . Under current regulatory guidelines, when subordinated debt is within five years of its scheduled maturity date, issuers must discount the amount included in Tier 2 capital by 20 percent for each year until the debt matures. Once the debt is within one year of its scheduled maturity date, no amount of the debt is allowed to be included in Tier 2 capital. BancShares has two classes of common stock—Class A common and Class B common. Shares of Class A common have one vote per share, while shares of Class B common have 16 votes per share. During 2018, our Board authorized the purchase of up to 800,000 shares of Class A common stock. The shares may be purchased from time to time at management's discretion from November 1, 2018 through October 31, 2019. That authorization does not obligate BancShares to purchase any particular amount of shares, and purchases may be suspended or discontinued at any time. The Board's action replaced existing authority to purchase up to 800,000 shares in effect during the twelve months preceding November 1, 2018. A total of 200,000 shares were purchased under the previous authority that expired on October 31, 2018, and 182,000 shares have been purchased under the newly approved authority, which began November 1, 2018. An additional 106,500 shares have been purchased subsequent to December 31, 2018. The Board of Directors of FCB may approve distributions, including dividends, as it deems appropriate, subject to the requirements of the FDIC and the General Statutes of North Carolina, provided that the distributions do not reduce capital below applicable capital requirements. As of December 31, 2018 , the maximum amount of the dividend was limited to $1.09 billion to preserve well-capitalized status. Dividends declared by FCB and paid to BancShares amounted to $242.9 million in 2018 , $50.4 million in 2017 and $90.1 million in 2016 . Payment of dividends is made at the discretion of the Board of Directors and is contingent upon satisfactory earnings as well as projected future capital needs. BancShares' principal source of liquidity for payment of shareholder dividends is the dividend it receives from FCB. BancShares and FCB are subject to various requirements imposed by state and federal banking statutes and regulations, including regulations requiring the maintenance of reserve balances at the Federal Reserve Bank. Banks are allowed to reduce the required balances by the amount of vault cash. For 2018 , the requirements averaged $680.3 million . |
Commitments and Contingencies
Commitments and Contingencies | 12 Months Ended |
Dec. 31, 2018 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | COMMITMENTS AND CONTINGENCIES To meet the financing needs of its customers, BancShares and its subsidiaries have financial instruments with off-balance sheet risk. These financial instruments include commitments to extend credit and standby letters of credit. These instruments involve elements of credit, interest rate or liquidity risk. Commitments to extend credit are legally binding agreements to lend to customers. These commitments generally have fixed expiration dates or other termination clauses and may require payment of fees. Since many of the commitments are expected to expire without being drawn upon, the total commitment amounts do not necessarily represent future liquidity requirements. Established credit standards control the credit risk exposure associated with these commitments. In some cases, BancShares requires that collateral be pledged to secure the commitment, including cash deposits, securities and other assets. Standby letters of credit are commitments guaranteeing performance of a customer to a third party. These commitments are primarily issued to support public and private borrowing arrangements, and their fair value is not material. To mitigate its risk, BancShares’ credit policies govern the issuance of standby letters of credit. The credit risk related to the issuance of these letters of credit is essentially the same as that involved in extending loans to clients and, therefore, these letters of credit are collateralized when necessary. The following table presents the commitments to extend credit and unfunded commitments as of December 31, 2018 and 2017 : (Dollars in thousands) 2018 2017 Unused commitments to extend credit $ 10,054,712 $ 9,629,365 Standby letters of credit 96,467 81,530 Unfunded commitments for investments in affordable housing projects 67,952 61,819 BancShares and various subsidiaries have been named as defendants in legal actions arising from their normal business activities in which damages in various amounts are claimed. BancShares is also exposed to litigation risk relating to the prior business activities of banks from which assets were acquired and liabilities assumed in merger transactions. Although the amount of any ultimate liability with respect to such matters cannot be determined, in the opinion of management, any such liability will not have a material effect on BancShares’ consolidated financial statements. |
Accumulated Other Comprehensive
Accumulated Other Comprehensive Loss | 12 Months Ended |
Dec. 31, 2018 | |
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | |
Accumulated Other Comprehensive Loss | ACCUMULATED OTHER COMPREHENSIVE (LOSS) INCOME Accumulated other comprehensive loss included the following at December 31, 2018 and 2017 : December 31, 2018 December 31, 2017 (Dollars in thousands) Accumulated other comprehensive loss Deferred tax benefit Accumulated other comprehensive loss, net of tax Accumulated other comprehensive loss Deferred tax benefit Accumulated other comprehensive loss, net of tax Unrealized losses on securities available for sale $ (50,007 ) $ (11,502 ) $ (38,505 ) $ (48,834 ) $ (17,889 ) $ (30,945 ) Unrealized losses on securities available for sale transferred to held to maturity (92,401 ) (21,252 ) (71,149 ) — — — Defined benefit pension items (163,030 ) (37,497 ) (125,533 ) (144,999 ) (53,650 ) (91,349 ) Total $ (305,438 ) $ (70,251 ) $ (235,187 ) $ (193,833 ) $ (71,539 ) $ (122,294 ) The following table highlights changes in accumulated other comprehensive (loss) income by component for the years ended December 31, 2018 and 2017 : (Dollars in thousands) Unrealized (losses) gains on securities available-for-sale (1) Unrealized losses on securities available for sale transferred to held to maturity (1) Defined benefit pension items (1) Total Balance at January 1, 2017 $ (45,875 ) $ — $ (89,317 ) $ (135,192 ) Other comprehensive income (loss) before reclassifications 17,635 — (8,156 ) 9,479 Amounts reclassified from accumulated other comprehensive loss (2,705 ) — 6,124 3,419 Net current period other comprehensive income (loss) 14,930 — (2,032 ) 12,898 Balance at December 31, 2017 (30,945 ) — (91,349 ) (122,294 ) Cumulative effect adjustments (29,751 ) — (20,300 ) (50,051 ) Other comprehensive income (loss) before reclassifications 22,461 (84,321 ) (24,649 ) (86,509 ) Amounts reclassified from accumulated other comprehensive loss (270 ) 13,172 10,765 23,667 Net current period other comprehensive income (loss) 22,191 (71,149 ) (13,884 ) (62,842 ) Balance at December 31, 2018 $ (38,505 ) $ (71,149 ) $ (125,533 ) $ (235,187 ) (1) All amounts are net of tax. Amounts in parentheses indicate debits. The following table presents the amounts reclassified from accumulated other comprehensive (loss) income and the line item affected in the statement where net income is presented for the twelve months ended December 31, 2018 and 2017 : (Dollars in thousands) Year ended December 31, 2018 Details about accumulated other comprehensive (loss) income Amount reclassified from accumulated other comprehensive (loss) income (1) Affected line item in the statement where net income is presented Unrealized gains and losses on available for sale securities $ 351 Securities gains, net (81 ) Income taxes $ 270 Net income Amortization of unrealized losses on securities available for sale transferred to held to maturity $ (17,106 ) Net interest income 3,934 Income taxes $ (13,172 ) Net Income Amortization of defined benefit pension items Prior service costs $ (79 ) Salaries and wages Actuarial losses (13,902 ) Other (13,981 ) Noninterest expense 3,216 Income taxes $ (10,765 ) Net income Total reclassifications for the period $ (23,667 ) Year ended December 31, 2017 Details about accumulated other comprehensive (loss) income Amount reclassified from accumulated other comprehensive (loss) income (1) Affected line item in the statement where net income is presented Unrealized gains and losses on available for sale securities $ 4,293 Securities gains, net (1,588 ) Income taxes $ 2,705 Net income Amortization of defined benefit pension items Prior service costs $ (210 ) Salaries and wages Actuarial losses (9,510 ) Other (9,720 ) Noninterest expense 3,596 Income taxes $ (6,124 ) Net income Total reclassifications for the period $ (3,419 ) (1) Amounts in parentheses indicate debits to profit/loss. |
Parent Company Financial Statem
Parent Company Financial Statements | 12 Months Ended |
Dec. 31, 2018 | |
Condensed Financial Information Disclosure [Abstract] | |
Parent Company Financial Statements | PARENT COMPANY FINANCIAL STATEMENTS Parent Company Condensed Balance Sheets (Dollars in thousands) December 31, 2018 December 31, 2017 Assets Cash and due from banks $ 7,188 $ 45,411 Overnight investments 385 14,476 Investment in marketable equity securities 92,599 — Investment securities available for sale 6,456 117,513 Investment in banking subsidiaries 3,314,292 3,203,491 Investment in other subsidiaries 41,830 41,165 Due from subsidiaries 814 4 Note to banking subsidiaries 100,000 — Other assets 42,810 46,674 Total assets $ 3,606,374 $ 3,468,734 Liabilities and Shareholders' Equity Short-term borrowings $ — $ 15,000 Long-term obligations 105,546 107,479 Due to subsidiaries 299 728 Other liabilities 11,575 11,463 Shareholders' equity 3,488,954 3,334,064 Total liabilities and shareholders' equity $ 3,606,374 $ 3,468,734 Parent Company Condensed Income Statements Year ended December 31 (Dollars in thousands) 2018 2017 2016 Interest and dividend income $ 1,362 $ 921 $ 1,110 Interest expense 5,154 4,814 6,067 Net interest loss (3,792 ) (3,893 ) (4,957 ) Dividends from banking subsidiaries 242,910 50,424 90,055 Marketable equity securities losses, net (7,610 ) — — Other income 347 8,437 9,330 Other operating expense 11,127 6,881 5,641 Income before income tax benefit and equity in undistributed net income of subsidiaries 220,728 48,087 88,787 Income tax benefit (5,184 ) (5,395 ) (730 ) Income before equity in undistributed net income of subsidiaries 225,912 53,482 89,517 Equity in undistributed net income of subsidiaries 174,401 270,270 135,965 Net income $ 400,313 $ 323,752 $ 225,482 Parent Company Condensed Statements of Cash Flows Year ended December 31 (Dollars in thousands) 2018 2017 2016 OPERATING ACTIVITIES Net income $ 400,313 $ 323,752 $ 225,482 Adjustments Undistributed net income of subsidiaries (174,401 ) (270,270 ) (135,965 ) Net amortization of premiums and discounts 88 759 398 Change in the fair value of marketable equity securities 7,610 — — Gain on extinguishment of debt (160 ) (919 ) (1,717 ) Securities gains — (8,003 ) (9,446 ) Change in other assets 3,657 (10,509 ) (980 ) Change in other liabilities (2,595 ) 6,310 2,483 Net cash provided by operating activities 234,512 41,120 80,255 INVESTING ACTIVITIES Net change in loans (100,000 ) — — Net change in due to subsidiaries (810 ) (4 ) — Net change in overnight investments 14,091 11,681 (24,741 ) Purchases of marketable equity securities (2,818 ) — — Proceeds from sales of marketable equity securities 9,528 Purchases of investment securities (6,438 ) (28,012 ) (93,003 ) Proceeds from sales, calls, and maturities of securities 9,997 32,463 38,316 Net cash (used) provided by investing activities (76,450 ) 16,128 (79,428 ) FINANCING ACTIVITIES Net change in due from subsidiaries 429 (1,622 ) 2,296 Net change in short-term borrowings (15,000 ) — — Repayment of long-term obligations (1,840 ) (4,081 ) (5,302 ) Repurchase of common stock (163,095 ) — — Cash dividends paid (16,779 ) (14,412 ) (14,412 ) Net cash used by financing activities (196,285 ) (20,115 ) (17,418 ) Net change in cash (38,223 ) 37,133 (16,591 ) Cash balance at beginning of year 45,411 8,278 24,869 Cash balance at end of year $ 7,188 $ 45,411 $ 8,278 CASH PAYMENTS FOR: Interest $ 5,154 $ 4,814 $ 4,006 Income taxes 73,806 88,565 108,741 |
Accounting Policies and Basis_2
Accounting Policies and Basis of Presentation (Policies) | 12 Months Ended |
Dec. 31, 2018 | |
Accounting Policies [Abstract] | |
Nature of Operations | Nature of Operations First Citizens BancShares, Inc. ("BancShares," "we," "us," "our" or "the Bank") is a financial holding company organized under the laws of Delaware and conducts operations through its banking subsidiary, First-Citizens Bank & Trust Company ("FCB"), which is headquartered in Raleigh, North Carolina. BancShares and its subsidiaries operate 551 branches in 19 states predominantly located in the Midwest, Southeast, and Southwest regions of the United States. BancShares seeks to meet the financial needs of individuals and commercial entities in its market areas through a wide range of retail and commercial banking services. Loan services include various types of commercial, business and consumer lending. Deposit services include checking, savings, money market and time deposit accounts. First Citizens Wealth Management provides holistic, goals-based advisory services encompassing a broad range of client deliverables. These deliverables include wealth planning, discretionary investment advisory services, insurance, brokerage, defined benefit and defined contribution services, private banking, trust, fiduciary, philanthropy and special asset services. |
Principles of Consolidation and Segment Reporting | Principles of Consolidation and Basis of Presentation The accounting and reporting policies of BancShares and its subsidiaries are in accordance with accounting principles generally accepted in the United States of America (GAAP) and general practices within the banking industry. The consolidated financial statements of BancShares include the accounts of BancShares and its subsidiaries, certain partnership interests and variable interest entities. All significant intercompany accounts and transactions are eliminated upon consolidation. BancShares operates with centralized management and combined reporting; thus, BancShares operates as one consolidated reportable segment. Variable interest entities (VIEs) are legal entities that either do not have sufficient equity to finance their activities without the support from other parties or whose equity investors lack a controlling financial interest. FCB has investments in certain partnerships and limited liability entities that have been evaluated and determined to be VIEs. Consolidation of a VIE is appropriate if a reporting entity holds a controlling financial interest in the VIE and is the primary beneficiary. FCB is not the primary beneficiary and does not hold a controlling interest in the VIEs as it does not have the power to direct the activities that most significantly impact the VIEs economic performance. As such, assets and liabilities of these entities are not consolidated into the financial statements of BancShares. The recorded investment in these entities is reported within other assets in the Consolidated Balance Sheets. |
Reclassifications | Reclassifications In certain instances, amounts reported in prior years' consolidated financial statements have been reclassified to conform to the current financial statement presentation. Such reclassifications had no effect on previously reported cash flows, shareholders' equity or net income. |
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 GAAP requires management to make estimates and assumptions that affect the amounts reported. Actual results could differ from those estimates. The estimates that BancShares considers significant are the allowance for loan and lease losses, fair value measurements, FDIC shared-loss payable, pension plan assumptions, goodwill and other intangible assets and income taxes. |
Business Combinations | Business Combinations BancShares accounts for all business combinations using the acquisition method of accounting. Under this method of accounting, acquired assets and assumed liabilities are included with the acquirer's accounts as of the date of acquisition, with any excess of purchase price over the fair value of the net assets acquired recognized as either finite lived intangibles or capitalized as goodwill. In addition, acquisition related costs and restructuring costs are recognized as period expenses as incurred. See Note B for additional information regarding business combinations. |
Cash and Cash Equivalents | Cash and Cash Equivalents Cash and cash equivalents include cash and due from banks, interest-bearing deposits with banks and federal funds sold. Cash and cash equivalents have initial maturities of three months or less. The carrying value of cash and cash equivalents approximates its fair value due to its short-term nature. |
Investment Securities | Securities BancShares classifies debt securities as held to maturity or available for sale. Debt securities are classified as held to maturity when BancShares has the intent and ability to hold the securities to maturity and are reported at amortized cost. Other debt securities are classified as available for sale and reported at estimated fair value, with unrealized gains and losses, net of income taxes, reported in Accumulated Other Comprehensive Income (AOCI). Amortization of premiums and accretion of discounts for debt securities are included in interest income. Realized gains and losses from the sale of debt securities are determined by specific identification on a trade date basis and are included in noninterest income. BancShares evaluates each held to maturity and available for sale security in a loss position for other-than-temporary impairment (OTTI) at least quarterly. BancShares considers such factors as the length of time and the extent to which the market value has been below amortized cost, long-term expectations and recent experience regarding principal and interest payments, BancShares' intent to sell, and whether it is more likely than not that it would be required to sell those securities before the anticipated recovery of the amortized cost. The credit component of an OTTI loss is recognized in earnings and the non-credit component is recognized in AOCI in situations where BancShares does not intend to sell the security, and it is more likely than not that BancShares will not be required to sell the security prior to recovery. Equity Securities Equity securities are recorded on a trade date basis and measured at fair value. Realized and unrealized gains and losses are determined by specific identification and are included in noninterest income. Non-marketable equity securities are securities that do not have readily determinable fair values and are measured at cost. BancShares evaluates its non-marketable equity securities for impairment and recoverability of the recorded investment by considering positive and negative evidence, including the profitability and asset quality of the issuer, dividend payment history and recent redemption experience. Impairment is assessed at each reporting period and if identified, is recognized in noninterest income. Non-marketable equity securities are recorded within other assets in the Consolidated Balance Sheets. Other Securities Membership in the Federal Home Loan Bank ("FHLB") network requires ownership of FHLB restricted stock. This stock is restricted in that it may only be sold to the FHLB and all sales must be at par. Accordingly, the FHLB restricted stock is carried at cost, less any applicable impairment charges and is recorded within other assets in the Consolidated Balance Sheets. FHLB restricted stock was $25.3 million and $52.7 million at December 31, 2018 and 2017 , respectively. Investments in Qualified Affordable Housing Projects BancShares and FCB have investments in qualified affordable housing projects primarily for the purposes of fulfilling Community Reinvestment Act requirements and obtaining tax credits. These investments are accounted for using the proportional amortization method if certain conditions are met. Under the proportional amortization method, the initial cost of the investment is amortized in proportion to the tax credits and other tax benefits received, and the net investment performance is recognized in the income statement as a component of income tax expense. All of the investments held in qualified affordable housing projects qualify for the proportional amortization method and totaled $147.3 million and $128.0 million at December 31, 2018 and December 31, 2017 , respectively, and are included in other assets in the Consolidated Balance Sheets. |
Loans Held For Sale | Loans Held For Sale BancShares elected to apply the fair value option for new originations of prime residential mortgage loans to be sold. Gains and losses on sales of mortgage loans are recognized within mortgage income. Origination fees collected and costs incurred are deferred and recorded in mortgage income in the period the corresponding loans are sold. |
Loans and Leases | Loans and Leases BancShares' accounting methods for loans and leases depends on whether they are originated or purchased, and if purchased, whether or not the loans reflect credit deterioration at the date of acquisition. Non-Purchased Credit Impaired (Non-PCI) Loans Non-PCI loans consist of loans originated by Bancshares or loans purchased from other institutions that do not reflect credit deterioration at acquisition. Originated loans for which management has the intent and ability to hold for the foreseeable future are classified as held for investment and carried at the principal amount outstanding net of any unearned income, charge-offs and unamortized fees and costs. Nonrefundable fees collected and certain direct costs incurred related to loan originations are deferred and recorded as an adjustment to loans outstanding. The net amount of the nonrefundable fees and costs is amortized to interest income over the contractual lives using methods that approximate a constant yield. Purchased non-credit impaired loans are acquired loans that do not reflect credit deterioration at acquisition. These loans are recorded at fair value at the date of acquisition. The difference between the fair value and the unpaid principal balance at the acquisition date is amortized or accreted to interest income over the contractual life of the loan using the effective interest method. Purchased Credit Impaired (PCI) Loans Purchased loans which reflect credit deterioration since origination such that it is probable at acquisition that BancShares will be unable to collect all contractually required payments are classified as PCI loans. PCI loans are recorded at fair value at the date of acquisition. If the timing and amount of the future cash flows can be reasonably estimated, any excess of cash flows expected at acquisition over the estimated fair value are recognized as interest income over the life of the loans using the effective yield method. Subsequent to the acquisition date, increases in cash flows over those expected at the acquisition date are recognized prospectively as interest income. Decreases in expected cash flows due to credit deterioration are recognized by recording an allowance for loan losses. In the event of prepayment, the remaining unamortized amount is recognized in interest income. To the extent possible, PCI loans are aggregated into pools based upon common risk characteristics and each pool is accounted for as a single unit. The performance of all loans within the BancShares portfolio is subject to a number of external risks, including changes in the overall health of the economy, declines in real estate values, changes in the demand for products and services and personal events, such as death, disability or change in marital status. Bancshares evaluates and reports its non-PCI and PCI loan portfolios separately, and each portfolio is further divided into commercial and non-commercial segments based on the type of borrower, purpose, collateral and/or our underlying credit management processes. Additionally, commercial and non-commercial loans are assigned to loan classes, which further disaggregate the loan portfolio. Non-PCI Commercial Loans & Leases Non-PCI commercial loans (excluding purchased non-impaired loans and certain purchased revolving credit) are underwritten based primarily upon the customer's ability to generate the required cash flow to service the debt in accordance with the contractual terms and conditions of the loan agreement. Additionally, an understanding of the borrower's business, including the experience and background of the principals is obtained prior to approval. To the extent the loan is secured by collateral, the likely value of the collateral and what level of strength the collateral brings to the transaction is also evaluated. If the principals or other parties provide personal guarantees, the relative financial strength and liquidity of each guarantor is also assessed. Acquired non-PCI commercial loans are evaluated using comparable methods and procedures as those originated by BancShares. Construction and land development - Construction and land development consists of loans to finance land for development of commercial or residential real property and construction of multifamily apartments or other commercial properties. These loans are highly dependent on the supply and demand for commercial real estate as well as the demand for newly constructed residential homes and lots acquired for development. Deterioration in demand could result in decreased collateral values, which could make repayments of outstanding loans difficult for customers. Commercial mortgage - Commercial mortgage consists of loans to purchase or refinance owner-occupied or investment nonresidential properties. Commercial mortgages secured by owner-occupied properties are primarily dependent on the ability of borrowers to achieve business results consistent with those projected at loan origination. Failure to achieve these projections presents risk that the borrower will be unable to service the debt consistent with the contractual terms of the loan. Commercial mortgages secured by investment properties include office buildings and other facilities that are rented or leased to unrelated parties. The primary risk associated with income producing commercial mortgage loans is the ability of the income-producing property that collateralizes the loan to produce adequate cash flow to service the debt. While these loans and leases are collateralized by real property in an effort to mitigate risk, it is possible that the liquidation of collateral will not fully satisfy the obligation. Other commercial real estate - Other commercial real estate consists of loans secured by farmland (including residential farms and other improvements) and multifamily (five or more) residential properties. The performance of agricultural loans is highly dependent on favorable weather, reasonable costs for seed and fertilizer and the ability to successfully market the product at a profitable margin. The demand for these products is also dependent on macroeconomic conditions that are beyond the control of the borrower. The primary risk associated with multifamily loans is the ability of the income-producing property that collateralizes the loan to produce adequate cash flow to service the debt. High unemployment or generally weak economic conditions may result in borrowers having to provide rental rate concessions to achieve adequate occupancy rates. Commercial and industrial and lease financing - Commercial and industrial and lease financing consists of loans or lines of credit to finance accounts receivable, inventory or other general business needs, business credit cards, and lease financing agreements for equipment, vehicles, or other assets. The primary risk associated with commercial and industrial and lease financing loans is the ability of borrowers to achieve business results consistent with those projected at origination. Failure to achieve these projections presents risk that the borrower will be unable to service the debt consistent with the contractual terms of the loan or lease. Other - Other consists of all other commercial loans not classified in one of the preceding classes. These typically include loans to nonprofit organizations such as churches, hospitals, educational and charitable organizations, and certain loans repurchased with government guarantees. Non-PCI Noncommercial Loans & Leases Non-PCI noncommercial loans (excluding purchased non-impaired loans and certain purchased revolving credit) are centrally underwritten using automated credit scoring and analysis tools. These credit scoring tools take into account factors such as payment history, credit utilization, length of credit history, types of credit currently in use and recent credit inquiries. To the extent that the loan is secured by collateral, the likely value of that collateral is evaluated. Acquired non-PCI noncommercial loans are evaluated using comparable methods and procedures as those originated by BancShares. Residential mortgage - Residential real estate consists of loans to purchase, or refinance the borrower's primary dwelling, second residence or vacation home and are often secured by 1-4 family residential property. Significant and rapid declines in real estate values can result in borrowers having debt levels in excess of the current market value of the collateral. Revolving mortgage - Revolving mortgage consists of home equity lines of credit that are secured by first or second liens on the borrower's primary residence. These loans are often secured by second liens on the residential real estate and are particularly susceptible to declining collateral values as a substantial decline in value could render a second lien position effectively unsecured. Construction and land development - Construction and land development consists of loans to construct a borrower's primary or secondary residence or vacant land upon which the owner intends to construct a dwelling at a future date. These loans are typically secured by undeveloped or partially developed land in anticipation of completing construction of a 1-4 family residential property. There is risk that these construction and development projects can experience delays and cost overruns that exceed the borrower’s financial ability to complete the project. Such cost overruns can result in foreclosure of partially completed and unmarketable collateral. Consumer - Consumer loans consist of installment loans to finance purchases of vehicles, unsecured home improvements, student loans and revolving lines of credit that can be secured or unsecured, including personal credit cards. The value of the underlying collateral within this class is at risk of potential rapid depreciation which could result in unpaid balances in excess of the collateral. PCI Loans The segments and classes utilized to evaluate and report PCI loans is consistent with that of non-PCI loans. PCI loans were underwritten by other institutions, often with different lending standards and methods; however, the underwriting risks are generally consistent with the risks identified for non-PCI loans. Additionally, in some cases, collateral for PCI loans may be located in regions that previously experienced deterioration in real estate values and the underlying collateral may therefore not support full repayment of these loans. |
Impaired Loans, Troubled Debt Restructurings (TDR) and Nonperforming Assets | Troubled Debt Restructurings |
Other Real Estate Owned (OREO) | |
Covered Assets and Receivable from FDIC for Shared-Loss Agreements | |
Payable to the FDIC for Loss Share Agreements | |
Allowance for Loan and Lease Losses (ALLL) | Allowance for Loan and Lease Losses (ALLL) The ALLL represents management's best estimate of inherent credit losses within the loan and lease portfolio at the balance sheet date. Management determines the ALLL based on an ongoing evaluation of the loan portfolio. Estimates for loan losses are determined by analyzing quantitative and qualitative components, such as: economic conditions, historical loan losses, historical loan migration to charge-off experience, current trends in delinquencies and charge-offs, expected cash flows on PCI loans, current assessment of impaired loans, and changes in the size, composition and/or risk within the loan portfolio. Adjustments to the ALLL are recorded with a corresponding entry to provision for loan and lease losses. Loan balances considered uncollectible are charged-off against the ALLL. Recoveries of amounts previously charged-off are generally credited to the ALLL. A primary component of determining the allowance on non-PCI loans collectively evaluated is the actual loss history of the various loan classes. Loan loss factors are based on historical experience and may be adjusted for significant factors, that in management's judgment, affect the collectability of principal and interest at the balance sheet date. In accordance with our allowance methodology, loan loss factors are monitored quarterly and may be adjusted based on changes in the level of historical net charge-offs and updates by management, such as the number of periods included in the calculation of loss factors, loss severity, loss emergence period and portfolio attrition. For the non-PCI commercial segment, management incorporates historical net loss data to develop the applicable loan loss factors. General reserves for collective impairment are based on incurred loss estimates for the loan class based on average loss rates by credit quality indicators, which are estimated using historical loss experience and credit risk rating migrations. Credit quality indicators include borrower classification codes and facility risk ratings. Incurred loss estimates may be adjusted through a qualitative assessment to reflect current economic conditions and portfolio trends including credit quality, concentrations, aging of the portfolio and significant policy and underwriting changes. For the non-PCI noncommercial segment, management incorporates specific loan class and delinquency status trends into the loan loss factors. General reserve estimates of incurred losses are based on historical loss experience and the migration of loans through the various delinquency pools applied to the current risk mix. Non-PCI loans are considered to be impaired when, based on current information and events, it is probable that a borrower will be unable to pay all amounts due according to the contractual terms of the loan agreement. Generally, management considers the following loans to be impaired: all TDR loans and all loan relationships which are on nonaccrual or 90+ days past due and greater than $500,000. Non-PCI impaired loans greater than $500,000 are evaluated individually for impairment while others are evaluated collectively. The impairment assessment and determination of the related specific reserve for each impaired loan is based on the loan's characteristics. Impairment measurement for loans that are dependent on borrower cash flow for repayment is based on the present value of expected cash flows discounted at the interest rate implicit in the original loan agreement. Impairment measurement for most real estate loans, particularly when a loan is considered to be a probable foreclosure, is based on the fair value of the underlying collateral. Collateral is appraised and market value (appropriately adjusted for an assessment of the sales and marketing costs) is used to calculate a fair value estimate. A specific valuation allowance is established or partial charge-off is recorded for the difference between the excess recorded investment in the loan and the loan’s estimated fair value less costs to sell. The ALLL for PCI loans is estimated based on the expected cash flows over the life of the loan. BancShares continues to estimate and update cash flows expected to be collected on individual loans or pools of loans sharing common risk characteristics. BancShares compares the carrying value of all PCI loans to the present value at each balance sheet date. If the present value is less than the carrying value, that shortfall is compared to the remaining credit discount and if it is in excess of the remaining credit discount, an ALLL is recorded through the recognition of provision expense. The ALLL for PCI loans with subsequent increases in expected cash flows to be collected is reduced and any remaining excess is recorded as an adjustment to the accretable yield over the loan's or pool's remaining life. |
Reserve for Unfunded Commitments | |
Premises and Equipment | Premises and Equipment |
Goodwill and Other Intangible Assets | Goodwill and Other Intangible Assets Goodwill represents the excess of the purchase price of an acquired entity over the fair value of the identifiable assets acquired. Goodwill is not amortized, but is evaluated at least annually for impairment during the third quarter, or when events or changes in circumstances indicate that a potential impairment exists. Other acquired intangible assets with finite lives, such as core deposit intangibles, are initially recorded at fair value and are amortized on an accelerated basis typically between five to ten years over their estimated useful lives. Intangible assets are evaluated for impairment when events or changes in circumstances indicate that a potential impairment exists. Mortgage Servicing Rights (MSRs) |
Securities Sold Under Repurchase Agreements | . |
Fair Values | Fair Values The fair value of financial instruments and the methods and assumptions used in estimating fair value amounts and financial assets and liabilities for which fair value was elected are detailed in Note M |
Income Taxes | Income Taxes Income taxes are accounted for using the asset and liability approach as prescribed in ASC 740, Income Taxes . Under this method, a deferred tax asset or liability is determined based on the currently enacted tax rates applicable to the period in which the differences between the financial statement carrying amounts and tax basis of existing assets and liabilities are expected to be reported in BancShares' income tax returns. The effect on deferred taxes of a change in tax rates is recognized in income in the period that includes the enactment date. The potential impact of current events on the estimates used to establish income tax expenses and income tax liabilities is continually monitored and evaluated. Income tax positions based on current tax law, positions taken by various tax auditors within the jurisdictions where income tax returns are filed, as well as potential or pending audits or assessments by such tax auditors are evaluated on a periodic basis. BancShares has unrecognized tax benefits related to the uncertain portion of tax positions that BancShares has taken or expects to take. A liability may be created or an amount refundable may be reduced for the amount of unrecognized tax benefits. These uncertainties result from the application of complex tax laws, rules, regulations and interpretations, primarily in state taxing jurisdictions. Unrecognized tax benefits are assessed quarterly and may be adjusted through current income tax expense in future periods based on changing facts and circumstances, completion of examinations by taxing authorities or expiration of a statute of limitations. Estimated penalties and interest on uncertain tax positions are recognized in income tax expense. BancShares files a consolidated federal income tax return and various combined and separate company state tax returns. See Note P in the Notes to Consolidated Financial Statements for additional disclosures. |
Derivative Financial Instruments | |
Per Share Data | Per Share Data Net income per share is computed by dividing net income by the weighted average number of both classes of common shares outstanding during each period. BancShares had no potential common shares outstanding in any period and did not report diluted net income per share. Cash dividends per share apply to both Class A and Class B common stock. Shares of Class A common stock carry one vote per share, while shares of Class B common stock carry 16 votes per share. |
Defined Benefit Pension Plan | Defined Benefit Pension Plan BancShares maintains noncontributory defined benefit pension plans covering certain qualifying employees. The calculation of the obligations and related expenses under the plans require the use of actuarial valuation methods and assumptions. Actuarial assumptions used in the determination of future values of plan assets and liabilities are subject to management judgment and may differ significantly if different assumptions are used. The discount rate assumption used to measure the plan obligations is based on a yield curve developed from high-quality corporate bonds across a full maturity spectrum. The projected cash flows of the pension plans are discounted based on this yield curve, and a single discount rate is calculated to achieve the same present value. The assumed rate of future compensation increases is reviewed annually based on actual experience and future salary expectations. We also estimate a long-term rate of return on pension plan assets that is used to estimate the future value of plan assets. In developing the long-term rate of return, we consider such factors as the actual return earned on plan assets, historical returns on the various asset classes in the plans and projections of future returns on various asset classes. Refer to Note N for disclosures related to BancShares' defined benefit pension plans. |
Recently Adopted Accounting Pronouncements | Recently Adopted Accounting Pronouncements Financial Accounting Standards Board (FASB) Accounting Standards Update (ASU) 2018-02, Income Statement - Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income This ASU requires a reclassification from accumulated other comprehensive income (AOCI) to retained earnings for stranded tax effects resulting from the newly enacted federal corporate income tax rate in the Tax Act, which was enacted on December 22, 2017. The Tax Act included a reduction to the corporate income tax rate from 35 percent to 21 percent effective January 1, 2018. The amount of the reclassification is the difference between the historical corporate income tax rate and the newly enacted 21 percent corporate income tax rate. The amendments in this ASU are effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. Early adoption is permitted. We adopted the guidance effective in the first quarter of 2018. The change in accounting principle was accounted for as a cumulative-effect adjustment to the balance sheet resulting in a $31.3 million increase to retained earnings and a corresponding decrease to AOCI on January 1, 2018. FASB ASU 2017-07, Compensation - Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost This ASU requires employers to present the service cost component of the net periodic benefit cost in the same income statement line item as other employee compensation costs arising from services rendered during the period. Employers will present the other components separately from the line item that includes the service cost. In addition, only the service cost component of net benefit cost is eligible for capitalization. The amendments in this ASU are effective for public business entities for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. We adopted the guidance effective in the first quarter of 2018. The adoption did not have a material impact on our consolidated financial position or consolidated results of operations. FASB ASU 2016-01, Financial Instruments-Overall (Subtopic 825-10) : Recognition and Measurement of Financial Assets and Financial Liabilities This ASU addresses certain aspects of recognition, measurement, presentation and disclosure of certain financial instruments. The amendments in this ASU (i) require most equity investments to be measured at fair value with changes in fair value recognized in net income; (ii) simplify the impairment assessment of equity investments without a readily determinable fair value; (iii) eliminate the requirement to disclose the method(s) and significant assumptions used to estimate the fair value for financial instruments measured at amortized cost on the balance sheet; (iv) require public business entities to use exit price notion, rather than entry prices, when measuring fair value of financial instruments for disclosure purposes; (v) require separate presentation of financial assets and financial liabilities by measurement category and form of financial assets on the balance sheet or the accompanying notes to the financial statements; (vi) require separate presentation in other comprehensive income of 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 organization has elected to measure the liability at fair value in accordance with the fair value option for financial instruments; and (vii) state that a valuation allowance on deferred tax assets related to available-for-sale securities should be evaluated in combination with other deferred tax assets. The amendments in this ASU are effective for public business entities for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. We adopted the guidance effective in the first quarter of 2018. The change in accounting principle was accounted for as a cumulative-effect adjustment to the balance sheet resulting in an $18.7 million increase to retained earnings and a decrease to AOCI on January 1, 2018. With the adoption of this ASU, equity securities can no longer be classified as available for sale; as such, marketable equity securities are disclosed as a separate line item on the balance sheet with changes in the fair value of equity securities reflected in net income. For equity investments without a readily determinable fair value, BancShares has elected to measure the equity investments using the measurement alternative that requires BancShares to make a qualitative assessment of whether the investment is impaired at each reporting period. Under the measurement alternative these investments will be measured at cost, less any impairment, plus or minus changes resulting from observable price changes in orderly transactions for an identical or similar investment of the same issuer. If a qualitative assessment indicates that the investment is impaired, BancShares will estimate the investment's fair value in accordance with the Accounting Standards Codification (ASC) 820 and, if the fair value is less than the investment's carrying value, recognize an impairment loss in net income equal to the difference between carrying value and fair value. Equity investments without a readily determinable fair value are recorded within other assets in the consolidated balance sheets. FASB ASU 2014-09, Revenue from Contracts with Customers (Topic 606) In May 2014, the FASB issued a standard on the recognition of revenue from contracts with customers with the core principle being for a company to recognize revenue to depict the transfer of goods or services to customers in amounts that reflect the consideration to which the company expects to be entitled in exchange for those goods or services. The new standard, which provides a five step model to determine when and how revenue is recognized, also results in enhanced disclosures about revenue, provides guidance for transactions that were not previously addressed comprehensively and improves guidance for multiple-element arrangements. Per ASU 2015-14, Deferral of the Effective Date , this guidance was deferred and is effective for fiscal periods beginning after December 15, 2017, including interim reporting periods within that reporting period. We adopted the guidance effective in the first quarter of 2018. Our revenue is comprised primarily of net interest income on financial assets and liabilities, which is explicitly excluded from the scope of the new guidance, and noninterest income. The contracts that are in scope of the guidance are primarily related to cardholder and merchant services income, service charges on deposit accounts, wealth management services income, other service charges and fees, insurance commissions, ATM income, sales of other real estate and other. Based on our overall assessment of revenue streams and review of related contracts affected by the ASU, the adoption of this guidance did not change the method in which we currently recognize revenue. We also completed an evaluation of the costs related to these revenue streams to determine whether such costs should be presented as expenses or contra-revenue (i.e., gross vs. net). Based on this evaluation, we determined that the classification of cardholder and merchant processing costs as well as expenses for cardholder reward programs should be netted against cardholder and merchant services income. We used the full retrospective method of adoption and restated the prior financial statements to net the cardholder and merchant processing costs against the related cardholder and merchant services income. These classification changes resulted in changes to both noninterest income and noninterest expense; however, there was no change to previously reported net income. Merchant processing expenses of $81.3 million and $69.2 million had been reclassified and reported as a component of merchant services income for the years ended December 31, 2017 and December 31, 2016, respectively. For the twelve months ended December 31, 2017, cardholder processing expenses of $27.8 million and cardholder reward programs expense of $10.0 million were reclassified and reported as a component of cardholder services income. For the twelve months ended December 31, 2016, cardholder processing expenses of $20.8 million and cardholder reward programs expense of $10.6 million were reclassified and reported as a component of cardholder services income. Revenue Recognition The standard requires disclosure of qualitative and quantitative information surrounding the amount, nature, timing and uncertainty of revenues and cash flows arising from contracts with customers. Descriptions of our noninterest revenue-generating activities that are within the scope of the new revenue ASU are broadly segregated as follows: Cardholder and Merchant Services - These represent interchange fees from customer debit and credit card transactions that are earned at the time a cardholder engages in a transaction with a merchant as well as fees charged to merchants for providing them the ability to accept and process the debit and credit card transaction. Revenue is recognized when the performance obligation has been satisfied, which is upon completion of the card transaction. Additionally, ASU 2014-09 requires costs associated with cardholder and merchant services transactions to be netted against the fee income from such transactions when an entity is acting as an agent in providing services to a customer. Service Charges on Deposit Accounts - These deposit account-related fees represent monthly account maintenance and transaction-based service fees such as overdraft fees, stop payment fees and charges for issuing cashier's checks and money orders. For account maintenance services, revenue is recognized at the end of the statement period when our performance obligation has been satisfied. All other revenues from transaction-based services are recognized at a point in time when the performance obligation has been completed. Wealth Management Services - These primarily represent annuity fees, sales commissions, management fees, insurance sales, and trust and asset management fees. The performance obligation for wealth management services is the provision of services to place annuity products issued by the counterparty to investors, and the provision of services to manage the client’s assets, including brokerage custodial and other management services. Revenue from wealth management services is recognized over the period in which services are performed, and is based on a percentage of the value of the assets under management/administration. This revenue is either fixed or variable based on account type, or transaction-based. Other Service Charges and Fees - These include, but are not limited to, check cashing fees, international banking fees, internet banking fees, wire transfer fees and safe deposit fees. The performance obligation is fulfilled, and revenue is recognized, at the point in time the requested service is provided to the customer. Insurance Commissions - These represent commissions earned on the issuance of insurance products and services. The performance obligation is generally satisfied upon the issuance of the insurance policy and revenue is recognized when the commission payment is remitted by the insurance carrier or policy holder depending on whether the billing is performed by Bancshares or the carrier. ATM Income - These represent fees imposed on customers and non-customers for engaging in an ATM transaction. Revenue is recognized at the time of the transaction as the performance obligation of rendering the ATM service has been met. Sales of Other Real Estate - ORE property consists of foreclosed real estate used as collateral for loans, closed branches, land acquired and no longer intended for future use by FCB, and other real estate purchased for resale as ORE. Revenue is generally recognized on the date of sale where the performance obligation of providing access and transferring control of the specified ORE property to the buyer in good faith and good title is satisfied. This is recorded as a component of other noninterest income. Other - This consists of several forms of recurring revenue such as external rental income, parking income, FHLB dividends and income earned on changes in the cash surrender value of bank-owned life insurance, all of which are outside the scope of ASU 2014-09. The remaining miscellaneous income is the result of immaterial transactions where revenue is recognized when, or as, the performance obligation is satisfied. Recently Issued Accounting Pronouncements FASB ASU 2018-15 - Intangibles - Goodwill and Other - Internal Use Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That is a Service Contract This ASU aligns the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software (and hosting arrangements that include internal-use software license). This ASU requires entities to use the guidance in FASB ASC 350-40, Intangibles - Goodwill and Other - Internal Use Software, to determine whether to capitalize or expense implementation costs related to the service contract. This ASU also requires entities to (i) expense capitalized implementation costs of a hosting arrangement that is a service contract over the term of the hosting arrangement; (ii) present the expense related to the capitalized implementation costs in the same line item on the income statement as fees associated with the hosting element of the arrangement; (iii) classify payments for capitalized implementation costs in the statement of cash flows in the same manner as payments made for fees associated with the hosting element; and (iv) present the capitalized implementation costs in the same balance sheet line item that a prepayment for the fees associated with the hosting arrangement would be presented. The amendments in this ASU are effective for fiscal years beginning after December 15, 2019 and interim periods within those fiscal years. Early adoption is permitted. BancShares will adopt the amendments in this ASU during the first quarter of 2020. BancShares is currently evaluating the impact this new standard will have on its consolidated financial statements and the magnitude of the impact has not yet been determined. FASB ASU 2018-14 - Compensation - Retirement Benefits - Defined Benefit Plans - General (Subtopic 715-20): Disclosure Framework - Changes to the Disclosure Requirements for Defined Benefit Plans This ASU modifies the disclosure requirements for employers that sponsor defined benefit pension or other postretirement plans by eliminating the requirement to disclose the amounts in accumulated other comprehensive income expected to be recognized as components of net periodic benefit cost over the next fiscal year and adding a requirement to disclose an explanation of the reasons for significant gains and losses related to changes in the benefit obligation for the period. The amendments in this ASU are effective for public entities for fiscal years ending after December 15, 2020. Early adoption is permitted for all entities. BancShares will adopt all applicable amendments and update the disclosures as appropriate during the first quarter of 2021. FASB ASU 2018-13 - Fair Value Measurement (Topic 820): Disclosure Framework - Changes to the Disclosure Requirements for Fair Value Measurement This ASU modifies the disclosure requirements on fair value measurements by eliminating the requirements to disclose (i) the amount of and reasons for transfers between Level 1 and Level 2 of the fair value hierarchy; (ii) the policy for timing of transfers between levels; and (iii) the valuation processes for Level 3 fair value measurements. This ASU also added specific disclosure requirements for fair value measurements for public entities including the requirement to disclose the changes in unrealized gains and losses for the period included in other comprehensive income for recurring Level 3 fair value measurements and the range and weighted average of significant unobservable inputs used to develop Level 3 fair value measurements. The amendments in this ASU are effective for all entities for fiscal years beginning after December 15, 2019, and all interim periods within those fiscal years. Early adoption is permitted upon issuance of the ASU. Entities are permitted to early adopt amendments that remove or modify disclosures and delay the adoption of the additional disclosures until their effective date. BancShares will adopt all applicable amendments and update the disclosures as appropriate during the first quarter of 2020. FASB ASU 2017-04, Intangibles - Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment This ASU eliminates Step 2 from the goodwill impairment test. Under Step 2, an entity had to perform procedures to determine the fair value at the impairment testing date of its assets and liabilities (including unrecognized assets and liabilities) following the procedure that would be required in determining the fair value of assets acquired and liabilities assumed in a business combination. Instead, under the amendments in this ASU, an entity should perform its annual, or interim, goodwill impairment test by comparing the fair value of a reporting unit with its carrying amount. An entity should recognize an impairment charge for the amount by which the carrying amount exceeds the reporting unit’s fair value; however, the loss recognized should not exceed the total amount of goodwill allocated to that reporting unit. Additionally, an entity should consider income tax effects from any tax deductible goodwill on the carrying amount of the reporting unit when measuring the goodwill impairment loss, if applicable. An entity still has the option to perform the qualitative assessment for a reporting unit to determine if the quantitative impairment test is necessary. This ASU eliminates the requirements for any reporting unit with a zero or negative carrying amount to perform a qualitative test. This ASU will be effective for BancShares' annual or interim goodwill impairment tests for fiscal years beginning after December 15, 2019. Early adoption is permitted for interim or annual goodwill impairment tests performed on testing dates after January 1, 2017. We expect to adopt the guidance for our annual impairment test in fiscal year 2020. BancShares does not anticipate any impact to our consolidated financial position or consolidated results of operations as a result of the adoption. FASB ASU 2016-13, Financial Instruments-Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments This ASU eliminates the delayed recognition of the full amount of credit losses until the loss was probable of occurring and instead will reflect an entity's current estimate of all expected credit losses. The amendments in this ASU broaden the information that an entity must consider in developing its expected credit loss estimate for assets measured either collectively or individually. The ASU does not specify a method for measuring expected credit losses and allows an entity to apply methods that reasonably reflect its expectations of the credit loss estimate based on the entity's size, complexity and risk profile. In addition, the disclosures of credit quality indicators in relation to the amortized cost of financing receivables, a current disclosure requirement, are further disaggregated by year of origination. The amendments in this ASU are effective for public business entities for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. Early adoption is permitted for fiscal years beginning after December 15, 2018. BancShares will adopt the guidance by the first quarter of 2020 with a cumulative-effect adjustment to retained earnings as of the beginning of the year of adoption. For BancShares, the standard will apply to loans, unfunded loan commitments and debt securities. A cross-functional team co-led by Corporate Finance and Risk Management is in place to implement the new standard. The team continues to work on critical activities such as building models, documenting accounting policies, reviewing data quality, and implementing a reporting and disclosure solution. BancShares continues to evaluate the impact the new standard will have on its consolidated financial statements but the magnitude of this impact has not been determined. The final impact will be dependent, among other items, on loan portfolio composition and credit quality at the adoption date, as well as economic conditions, financial models used and forecasts at that time. FASB ASU 2016-02, Leases (Topic 842) This ASU increases transparency and comparability among organizations by recognizing lease assets and lease liabilities on the balance sheet and disclosing key information about leasing arrangements. The key difference between existing standards and this ASU is the requirement for lessees to recognize all lease contracts on their balance sheet. This ASU requires lessees to classify leases as either operating or finance leases, which are substantially similar to the current operating and capital leases classifications. The distinction between these two classifications under the new standard does not relate to balance sheet treatment, but relates to treatment in the statements of income and cash flows. Lessor guidance remains largely unchanged with the exception of how a lessor determines the appropriate lease classification for each lease to better align the lessor guidance with revised lessee classification guidance. The amendments in this ASU are effective for public business entities for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. We will adopt during the first quarter of 2019. We expect an increase to the Consolidated Balance Sheets for right-of-use assets and associated lease liabilities, as well as resulting depreciation expense of the right-of-use assets and interest expense of the lease liabilities in the Consolidated Statements of Income, for arrangements previously accounted for as operating leases. Additionally, adding these assets to our balance sheet will impact our total risk-weighted assets used to determine our regulatory capital levels. Our impact analysis estimates an increase to the Consolidated Balance Sheets ranging between $70.0 million and $80.0 million , as the initial gross up of both assets and liabilities. Capital is expected to be adversely impacted by an estimated three to four basis points. These are preliminary estimates subject to change and will continue to be refined closer to adoption. |
Business Combinations (Tables)
Business Combinations (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Business Combinations [Abstract] | |
Schedule of Assets Acquired and Liabilities Assumed | The following table provides the purchase price as of the acquisition date and the identifiable assets acquired and liabilities assumed at their estimated fair values. (Dollars in thousands) As recorded by FCB Purchase Price $ 30,426 Assets Cash and due from banks $ 6,418 Investment securities 4,549 Loans 135,146 Premises and equipment 5,369 Other real estate owned 2,319 Income earned not collected 531 Intangible assets 1,706 Other assets 6,210 Fair value of assets acquired 162,248 Liabilities Deposits 124,892 Accrued interest payable 177 Borrowings 24,000 Other liabilities 203 Fair value of liabilities assumed $ 149,272 Fair value of net assets assumed 12,976 Goodwill recorded for Palmetto Heritage $ 17,450 The following table provides the purchase price as of the acquisition date and the identifiable assets acquired and liabilities assumed at their estimated fair values. (Dollars in thousands) As recorded by FCB Purchase Price $ 28,063 Assets Cash and due from banks $ 3,244 Overnight investments 1,065 Investment securities 17,865 Loans 184,126 Premises and equipment 3,773 Income earned not collected 621 Intangible assets 2,680 Other assets 8,513 Fair value of assets acquired 221,887 Liabilities Deposits 172,387 Accrued interest payable 263 Borrowings 30,624 Other liabilities 1,230 Fair value of liabilities assumed $ 204,504 Fair value of net assets assumed 17,383 Goodwill recorded for Capital Commerce $ 10,680 The following table provides the purchase price as of the acquisition date and the identifiable assets acquired and liabilities assumed at their estimated fair values. (Dollars in thousands) As recorded by FCB Purchase Price $ 112,657 Assets Cash and due from banks $ 6,359 Overnight investments 10,393 Investment securities 200,918 Loans held for sale 791 Loans 566,173 Premises and equipment 6,542 Other real estate owned 2,135 Income earned not collected 2,717 Intangible assets 13,206 Other assets 33,459 Fair value of assets acquired 842,693 Liabilities Deposits 619,589 Accrued interest payable 1,020 Borrowings 161,917 Other liabilities 5,126 Fair value of liabilities assumed $ 787,652 Fair value of net assets assumed 55,041 Goodwill recorded for HomeBancorp $ 57,616 |
Investments (Tables)
Investments (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Investments [Abstract] | |
Aggregate Values And Unrealized Gains And Losses Of Investment Securities | The amortized cost and fair value of investment securities classified as available for sale and held to maturity at December 31, 2018 and 2017 , were as follows: December 31, 2018 (Dollars in thousands) Cost Gross unrealized gains Gross unrealized losses Fair value Investment securities available for sale U.S. Treasury $ 1,249,243 $ 633 $ 2,166 $ 1,247,710 Government agency 257,252 222 639 256,835 Mortgage-backed securities 2,956,793 5,309 52,763 2,909,339 Corporate bonds 139,906 59 864 139,101 Other 3,923 202 — 4,125 Total investment securities available for sale $ 4,607,117 $ 6,425 $ 56,432 $ 4,557,110 December 31, 2017 Cost Gross unrealized gains Gross unrealized losses Fair value U.S. Treasury $ 1,658,410 $ — $ 546 $ 1,657,864 Government agency 8,695 15 40 8,670 Mortgage-backed securities 5,419,379 1,529 80,152 5,340,756 Marketable equity securities 75,471 29,737 — 105,208 Corporate bonds 59,414 557 8 59,963 Other 7,645 256 182 7,719 Total investment securities available for sale $ 7,229,014 $ 32,094 $ 80,928 $ 7,180,180 December 31, 2018 Cost Gross unrealized gains Gross unrealized losses Fair value Investment securities held to maturity Mortgage-backed securities $ 2,184,653 $ 17,339 $ 490 $ 2,201,502 December 31, 2017 Cost Gross unrealized gains Gross unrealized losses Fair value Mortgage-backed securities $ 76 $ 5 $ — $ 81 |
Investment Securities Maturity Information | The following table provides the amortized cost and fair value by contractual maturity. Expected maturities will differ from contractual maturities on certain securities because borrowers and issuers may have the right to call or prepay obligations with or without prepayment penalties. Mortgage-backed, government agency and equity securities are stated separately as they are not due at a single maturity date. December 31, 2018 December 31, 2017 (Dollars in thousands) Cost Fair value Cost Fair value Investment securities available for sale Non-amortizing securities maturing in: One year or less $ 1,049,253 $ 1,047,380 $ 808,768 $ 808,301 One through five years 205,526 205,805 849,642 849,563 Five through 10 years 134,370 133,626 59,414 59,963 Over 10 years 3,923 4,125 7,645 7,719 Government agency 257,252 256,835 8,695 8,670 Mortgage-backed securities 2,956,793 2,909,339 5,419,379 5,340,756 Marketable equity securities — — 75,471 105,208 Total investment securities available for sale $ 4,607,117 $ 4,557,110 $ 7,229,014 $ 7,180,180 Investment securities held to maturity Mortgage-backed securities held to maturity $ 2,184,653 $ 2,201,502 $ 76 $ 81 |
Securities Gains (Losses) | For each period presented, securities gains (losses) include the following: Year ended December 31 (Dollars in thousands) 2018 2017 2016 Gross gains on retirement/sales of investment securities available for sale $ 353 $ 11,635 $ 27,104 Gross losses on sales of investment securities available for sale (2 ) (7,342 ) (431 ) Net securities gains $ 351 $ 4,293 $ 26,673 |
Schedule of Realized and Unrealized Gains or Losses on Marketable Equity Securities | The following table provides the realized and unrealized gains or losses on marketable equity securities for the three and twelve months ended December 31, 2018. (Dollars in thousands) Three months ended December 31, 2018 Twelve months ended December 31, 2018 Marketable equity securities (losses) gains, net $ (16,875 ) $ (7,610 ) Less net gains recognized on marketable equity securities sold 9 1,190 Unrealized (losses) gains recognized on marketable equity securities held $ (16,884 ) $ (8,800 ) |
Investment Securities With Unrealized Losses | The following table provides information regarding securities with unrealized losses as of December 31, 2018 and 2017 : December 31, 2018 Less than 12 months 12 months or more Total (Dollars in thousands) Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses Investment securities available for sale: U.S. Treasury $ 248,983 $ 113 $ 848,622 $ 2,053 $ 1,097,605 $ 2,166 Government agency 115,273 601 2,310 38 117,583 639 Mortgage-backed securities 262,204 2,387 1,940,695 50,376 2,202,899 52,763 Corporate bonds 79,066 842 5,000 22 84,066 864 Total $ 705,526 $ 3,943 $ 2,796,627 $ 52,489 $ 3,502,153 $ 56,432 Investment securities held to maturity: Mortgage-backed securities $ 5,111 $ 181 $ 10,131 $ 309 $ 15,242 $ 490 December 31, 2017 Less than 12 months 12 months or more Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses Investment securities available for sale: U.S. Treasury $ 1,408,166 $ 345 $ 249,698 $ 201 $ 1,657,864 $ 546 Government agency 848 12 2,527 28 3,375 40 Mortgage-backed securities 2,333,254 20,911 2,723,406 59,241 5,056,660 80,152 Corporate bonds 5,025 8 — — 5,025 8 Other 5,349 182 — — 5,349 182 Total $ 3,752,642 $ 21,458 $ 2,975,631 $ 59,470 $ 6,728,273 $ 80,928 |
Loans and Leases (Tables)
Loans and Leases (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Loans and Leases Receivable Disclosure [Abstract] | |
Changes in Carrying Value of Accretable Yield for PCI Loans [Table Text Block] | The following table summarizes changes to the amount of accretable yield for 2018 and 2017 . (Dollars in thousands) 2018 2017 2016 Balance at January 1 $ 316,679 $ 335,074 $ 343,856 Additions from acquisitions 6,393 44,120 12,488 Accretion (61,502 ) (76,594 ) (76,565 ) Reclassifications from nonaccretable difference 5,980 18,901 29,931 Changes in expected cash flows that do not affect nonaccretable difference 45,344 (4,822 ) 25,364 Balance at December 31 $ 312,894 $ 316,679 $ 335,074 |
Loans And Leases Outstanding | Loans and leases outstanding include the following at December 31, 2018 and 2017 : (Dollars in thousands) December 31, 2018 December 31, 2017 Non-PCI loans and leases: Commercial: Construction and land development $ 757,854 $ 669,215 Commercial mortgage 10,717,234 9,729,022 Other commercial real estate 426,985 473,433 Commercial and industrial and leases 3,938,730 3,625,208 Other 296,424 302,176 Total commercial loans 16,137,227 14,799,054 Noncommercial: Residential mortgage 4,265,687 3,523,786 Revolving mortgage 2,542,975 2,701,525 Construction and land development 257,030 248,289 Consumer 1,713,781 1,561,173 Total noncommercial loans 8,779,473 8,034,773 Total non-PCI loans and leases 24,916,700 22,833,827 PCI loans: Total PCI loans 606,576 762,998 Total loans and leases $ 25,523,276 $ 23,596,825 |
Composition Of The Loans And Leases Outstanding By Credit Quality Indicator | outstanding at December 31, 2018 and December 31, 2017 , by credit quality indicator are provided below: December 31, 2018 Non-PCI commercial loans and leases (Dollars in thousands) Construction and land Commercial Other Commercial and Other Total non-PCI commercial loans and leases Pass $ 753,985 $ 10,507,687 $ 422,500 $ 3,778,797 $ 294,700 $ 15,757,669 Special mention 1,369 114,219 3,193 54,814 1,105 174,700 Substandard 2,500 92,743 1,292 30,688 619 127,842 Doubtful — — — 354 — 354 Ungraded — 2,585 — 74,077 — 76,662 Total $ 757,854 $ 10,717,234 $ 426,985 $ 3,938,730 $ 296,424 $ 16,137,227 December 31, 2017 Non-PCI commercial loans and leases Construction and land Commercial Other Commercial and Other Total non-PCI commercial loans and leases Pass $ 665,197 $ 9,521,019 $ 468,942 $ 3,395,086 $ 298,064 $ 14,348,308 Special mention 691 78,643 1,260 48,470 2,919 131,983 Substandard 3,327 128,848 3,224 25,202 1,193 161,794 Doubtful — 262 — 385 — 647 Ungraded — 250 7 156,065 — 156,322 Total $ 669,215 $ 9,729,022 $ 473,433 $ 3,625,208 $ 302,176 $ 14,799,054 December 31, 2018 Non-PCI noncommercial loans and leases (Dollars in thousands) Residential Revolving Construction Consumer Total non-PCI noncommercial Current $ 4,214,783 $ 2,514,269 $ 254,837 $ 1,696,321 $ 8,680,210 30-59 days past due 28,239 12,585 581 10,035 51,440 60-89 days past due 7,357 4,490 21 3,904 15,772 90 days or greater past due 15,308 11,631 1,591 3,521 32,051 Total $ 4,265,687 $ 2,542,975 $ 257,030 $ 1,713,781 $ 8,779,473 December 31, 2017 Non-PCI noncommercial loans and leases Residential Revolving Construction Consumer Total non-PCI noncommercial Current $ 3,465,935 $ 2,674,390 $ 239,648 $ 1,546,473 $ 7,926,446 30-59 days past due 27,886 13,428 7,154 8,812 57,280 60-89 days past due 8,064 3,485 108 2,893 14,550 90 days or greater past due 21,901 10,222 1,379 2,995 36,497 Total $ 3,523,786 $ 2,701,525 $ 248,289 $ 1,561,173 $ 8,034,773 December 31, 2018 December 31, 2017 (Dollars in thousands) PCI commercial loans Pass $ 141,922 $ 201,332 Special mention 48,475 63,257 Substandard 101,447 117,068 Doubtful 4,828 11,735 Ungraded — 27 Total $ 296,672 $ 393,419 December 31, 2018 December 31, 2017 (Dollars in thousands) PCI noncommercial loans Current $ 268,280 $ 318,632 30-89 days past due 11,155 13,343 60-89 days past due 7,708 6,212 90 days or greater past due 22,761 31,392 Total $ 309,904 $ 369,579 |
Aging Of The Outstanding Loans And Leases By Class Excluding Loans Impaired At Acquisition Date | The aging of the outstanding non-PCI loans and leases, by class, at December 31, 2018, and December 31, 2017 are provided in the tables below. Loans and leases 30 days or less past due are considered current, as various grace periods allow borrowers to make payments within a stated period after the due date and still remain in compliance with the loan agreement. December 31, 2018 (Dollars in thousands) 30-59 days past due 60-89 days past due 90 days or greater Total past due Current Total loans and leases Non-PCI loans and leases: Commercial: Construction and land development - commercial $ 516 $ 9 $ 444 $ 969 $ 756,885 $ 757,854 Commercial mortgage 14,200 2,066 3,237 19,503 10,697,731 10,717,234 Other commercial real estate 91 76 300 467 426,518 426,985 Commercial and industrial and leases 9,655 1,759 2,892 14,306 3,924,424 3,938,730 Other 285 — 89 374 296,050 296,424 Total commercial loans 24,747 3,910 6,962 35,619 16,101,608 16,137,227 Noncommercial: Residential mortgage 28,239 7,357 15,308 50,904 4,214,783 4,265,687 Revolving mortgage 12,585 4,490 11,631 28,706 2,514,269 2,542,975 Construction and land development - noncommercial 581 21 1,591 2,193 254,837 257,030 Consumer 10,035 3,904 3,521 17,460 1,696,321 1,713,781 Total noncommercial loans 51,440 15,772 32,051 99,263 8,680,210 8,779,473 Total non-PCI loans and leases $ 76,187 $ 19,682 $ 39,013 $ 134,882 $ 24,781,818 $ 24,916,700 December 31, 2017 30-59 days past due 60-89 days past due 90 days or greater Total past due Current Total loans and leases Non-PCI loans and leases: Commercial: Construction and land development - commercial $ 491 $ 442 $ 357 $ 1,290 $ 667,925 $ 669,215 Commercial mortgage 12,288 2,375 6,490 21,153 9,707,869 9,729,022 Other commercial real estate 107 — 75 182 473,251 473,433 Commercial and industrial and leases 9,677 1,677 2,239 13,593 3,611,615 3,625,208 Other 188 6 133 327 301,849 302,176 Total commercial loans 22,751 4,500 9,294 36,545 14,762,509 14,799,054 Noncommercial: Residential mortgage 27,886 8,064 21,901 57,851 3,465,935 3,523,786 Revolving mortgage 13,428 3,485 10,222 27,135 2,674,390 2,701,525 Construction and land development - noncommercial 7,154 108 1,379 8,641 239,648 248,289 Consumer 8,812 2,893 2,995 14,700 1,546,473 1,561,173 Total noncommercial loans 57,280 14,550 36,497 108,327 7,926,446 8,034,773 Total non-PCI loans and leases $ 80,031 $ 19,050 $ 45,791 $ 144,872 $ 22,688,955 22,833,827 |
Recorded Investment, By Class, In Loans And Leases On Nonaccrual Status And Loans And Leases Greater Than 90 Days Past Due And Still Accruing | December 31, 2018 December 31, 2017 (Dollars in thousands) Nonaccrual loans and leases Loans and leases > 90 days and accruing Nonaccrual loans and leases Loans and leases > 90 days and accruing Non-PCI loans and leases: Construction and land development - commercial $ 666 $ — $ 1,040 $ — Commercial mortgage 12,594 — 22,625 397 Other commercial real estate 366 — 916 — Commercial and industrial and leases 4,624 808 4,876 428 Residential mortgage 35,662 — 38,942 — Revolving mortgage 25,563 — 19,990 — Construction and land development - noncommercial 1,823 — 1,989 — Consumer 2,969 2,080 1,992 2,153 Other 279 — 164 — Total non-PCI loans and leases $ 84,546 $ 2,888 $ 92,534 $ 2,978 |
Schedule of Contractually Required Payments Including Principal and Interest Expected Cash Flows to be Collected and Fair Values [Table Text Block] | The following table relates to PCI loans acquired in the Palmetto Heritage, Capital Commerce and HomeBancorp transactions in 2018 and the Guaranty and HCB transactions in 2017. The table summarizes the contractually required payments, which include principal and interest, expected cash flows to be collected, and the fair value of PCI loans at the respective acquisition dates. (Dollars in thousands) Palmetto Heritage Capital Commerce HomeBancorp Guaranty HCB Contractually required payments $ 4,783 $ 13,871 $ 26,651 $ 158,456 $ 111,250 Cash flows expected to be collected 4,112 11,814 19,697 142,000 101,802 Fair value of loans at acquisition 3,863 10,772 15,555 114,533 85,149 |
Changes In Carrying Value Of Acquired Impaired Loans | The recorded fair values of PCI loans acquired in the Palmetto Heritage, Capital Commerce and HomeBancorp transactions in 2018 and the Guaranty and HCB transactions in 2017 as of their respective acquisition date were as follows: (Dollars in thousands) Palmetto Heritage Capital Commerce HomeBancorp Guaranty HCB Commercial: Construction and land development $ 212 $ 1,482 $ — $ 55 $ 7,061 Commercial mortgage 1,053 1,846 7,815 644 21,836 Other commercial real estate — — — — 6,404 Commercial and industrial 372 922 423 2 19,675 Total commercial loans 1,637 4,250 8,238 701 54,976 Noncommercial: Residential mortgage 2,226 6,503 7,317 80,475 25,857 Revolving mortgage — — — 33,319 3,434 Construction and land development — — — 26 — Consumer — 19 — 12 882 Total noncommercial loans 2,226 6,522 7,317 113,832 30,173 Total PCI loans $ 3,863 $ 10,772 $ 15,555 $ 114,533 $ 85,149 The following table provides changes in the carrying value of all PCI loans during the years ended December 31, 2018 and 2017 : (Dollars in thousands) 2018 2017 2016 Balance at January 1 $ 762,998 $ 809,169 $ 950,516 Fair value of PCI loans acquired during the year 30,190 199,682 80,690 Accretion 61,502 76,594 76,565 Payments received and other changes, net (248,114 ) (322,447 ) (298,602 ) Balance at December 31 $ 606,576 $ 762,998 $ 809,169 Unpaid principal balance at December 31 $ 960,457 $ 1,175,441 $ 1,266,395 |
Changes In The Amount Of Accretable Yield | Purchased non-PCI loans and leases The following table relates to purchased non-PCI loans acquired in the Palmetto Heritage, Capital Commerce and HomeBancorp transactions in 2018 and the Guaranty transaction in 2017. The table summarizes the contractually required payments, which include principal and interest, estimate of contractual cash flows not expected to be collected and fair value of the acquired loans at the acquisition date. (Dollars in thousands) Palmetto Heritage Capital Commerce HomeBancorp Guaranty Contractually required payments $ 142,413 $ 198,568 $ 710,876 $ 703,916 Contractual cash flows not expected to be collected — 5,427 9,845 16,073 Fair value at acquisition date 131,283 173,354 550,618 574,553 The recorded fair values of purchased non-PCI loans acquired in the Palmetto Heritage, Capital Commerce and HomeBancorp transactions in 2018 and the Guaranty transaction in 2017 as of their respective acquisition date were as follows: (Dollars in thousands) Palmetto Heritage Capital Commerce HomeBancorp Guaranty Commercial: Construction and land development $ 13,186 $ 10,299 $ 525 $ — Commercial mortgage 29,225 57,049 188,688 850 Other commercial real estate 753 6,370 55,183 — Commercial and industrial and leases 8,153 34,301 7,931 583 Other 1,039 — — 183,816 Total commercial loans and leases 52,356 108,019 252,327 185,249 Noncommercial: Residential mortgage 59,076 50,630 296,273 309,612 Revolving mortgage 6,175 2,552 51 54,780 Construction and land development 11,103 11,173 — — Consumer 2,573 980 1,967 24,912 Total noncommercial loans and leases 78,927 65,335 298,291 389,304 Total non-PCI loans $ 131,283 $ 173,354 $ 550,618 $ 574,553 |
Schedule of Loans Receivable (T
Schedule of Loans Receivable (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |
Loans And Leases Outstanding | Loans and leases outstanding include the following at December 31, 2018 and 2017 : (Dollars in thousands) December 31, 2018 December 31, 2017 Non-PCI loans and leases: Commercial: Construction and land development $ 757,854 $ 669,215 Commercial mortgage 10,717,234 9,729,022 Other commercial real estate 426,985 473,433 Commercial and industrial and leases 3,938,730 3,625,208 Other 296,424 302,176 Total commercial loans 16,137,227 14,799,054 Noncommercial: Residential mortgage 4,265,687 3,523,786 Revolving mortgage 2,542,975 2,701,525 Construction and land development 257,030 248,289 Consumer 1,713,781 1,561,173 Total noncommercial loans 8,779,473 8,034,773 Total non-PCI loans and leases 24,916,700 22,833,827 PCI loans: Total PCI loans 606,576 762,998 Total loans and leases $ 25,523,276 $ 23,596,825 |
Allowance for Loan and Lease _2
Allowance for Loan and Lease Losses Allowance for Loan and Lease Losses (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Receivables [Abstract] | |
Allocation of Allowance for Loan and Lease Losses | Activity in the allowance for non-PCI loan and lease losses by class of loans is summarized as follows: Years ended December 31, 2018, 2017, 2016 (Dollars in thousands) Construction and land development - commercial Commercial mortgage Other commercial real estate Commercial and industrial and leases Other Residential mortgage Revolving mortgage Construction and land development - non- commercial Consumer Total Non-PCI Loans Allowance for loan and lease losses: Balance at January 1, 2016 $ 16,288 $ 69,896 $ 2,168 $ 48,640 $ 1,855 $ 14,105 $ 15,971 $ 1,485 $ 19,496 $ 189,904 Provision (credits) 12,871 (21,912 ) 925 15,218 877 801 7,413 45 18,632 34,870 Charge-offs (680 ) (987 ) — (9,455 ) (144 ) (926 ) (3,287 ) — (14,108 ) (29,587 ) Recoveries 398 1,281 176 1,729 539 467 916 66 4,267 9,839 Balance at December 31, 2016 28,877 48,278 3,269 56,132 3,127 14,447 21,013 1,596 28,287 205,026 Provision (credits) (4,329 ) (5,694 ) 1,280 11,624 2,189 2,096 2,509 2,366 17,098 29,139 Charge-offs (599 ) (421 ) (5 ) (11,921 ) (912 ) (1,376 ) (2,368 ) — (18,784 ) (36,386 ) Recoveries 521 2,842 27 3,989 285 539 1,282 — 4,603 14,088 Balance at December 31, 2017 24,470 45,005 4,571 59,824 4,689 15,706 22,436 3,962 31,204 211,867 Provision (credits) 10,533 (1,490 ) (2,171 ) 2,511 (2,827 ) 897 1,112 (1,520 ) 22,187 29,232 Charge-offs (44 ) (1,140 ) (69 ) (10,211 ) (130 ) (1,689 ) (3,235 ) (219 ) (22,817 ) (39,554 ) Recoveries 311 1,076 150 3,496 489 558 1,549 127 5,267 13,023 Balance at December 31, 2018 $ 35,270 $ 43,451 $ 2,481 $ 55,620 $ 2,221 $ 15,472 $ 21,862 $ 2,350 $ 35,841 $ 214,568 The following tables present the allowance and recorded investment in loans and leases by class of loans, as well as the associated impairment method at December 31, 2018 and December 31, 2017. December 31, 2018 (Dollars in thousands) Construction and land development - commercial Commercial mortgage Other commercial real estate Commercial and industrial and leases Other Residential mortgage Revolving mortgage Construction and land development - non-commercial Consumer Total Non-PCI Loans Allowance for loan and lease losses: ALLL for loans and leases individually evaluated for impairment $ 490 $ 2,671 $ 42 $ 1,137 $ 105 $ 1,901 $ 2,515 $ 81 $ 885 $ 9,827 ALLL for loans and leases collectively evaluated for impairment 34,780 40,780 2,439 54,483 2,116 13,571 19,347 2,269 34,956 204,741 Total allowance for loan and lease losses $ 35,270 $ 43,451 $ 2,481 $ 55,620 $ 2,221 $ 15,472 $ 21,862 $ 2,350 $ 35,841 $ 214,568 Loans and leases: Loans and leases individually evaluated for impairment $ 2,175 $ 55,447 $ 860 $ 9,868 $ 291 $ 42,168 $ 28,852 $ 3,749 $ 3,020 $ 146,430 Loans and leases collectively evaluated for impairment 755,679 10,661,787 426,125 3,928,862 296,133 4,223,519 2,514,123 253,281 1,710,761 24,770,270 Total loan and leases $ 757,854 $ 10,717,234 $ 426,985 $ 3,938,730 $ 296,424 $ 4,265,687 $ 2,542,975 $ 257,030 $ 1,713,781 $ 24,916,700 December 31, 2017 (Dollars in thousands) Construction and land development - commercial Commercial mortgage Other commercial real estate Commercial and industrial and leases Other Residential mortgage Revolving mortgage Construction and land development - non-commercial Consumer Total Non-PCI Loans Allowance for loan and lease losses: ALLL for loans and leases individually evaluated for impairment $ 185 $ 3,648 $ 209 $ 1,062 $ — $ 2,733 $ 1,085 $ 68 $ 738 $ 9,728 ALLL for loans and leases collectively evaluated for impairment 24,285 41,357 4,362 58,762 4,689 12,973 21,351 3,894 30,466 202,139 Total allowance for loan and lease losses $ 24,470 $ 45,005 $ 4,571 $ 59,824 $ 4,689 $ 15,706 $ 22,436 $ 3,962 $ 31,204 $ 211,867 Loans and leases: Loans and leases individually evaluated for impairment $ 788 $ 73,655 $ 1,857 $ 9,888 $ 521 $ 37,842 $ 23,770 $ 4,551 $ 2,774 $ 155,646 Loans and leases collectively evaluated for impairment 668,427 9,655,367 471,576 3,615,320 301,655 3,485,944 2,677,755 243,738 1,558,399 22,678,181 Total loan and leases $ 669,215 $ 9,729,022 $ 473,433 $ 3,625,208 $ 302,176 $ 3,523,786 $ 2,701,525 $ 248,289 $ 1,561,173 $ 22,833,827 Activity in the PCI allowance and balances for years ended December 31, 2018, 2017 and 2016 is summarized as follows: (Dollars in thousands) 2018 2017 2016 Allowance for loan losses: Balance at January 1 $ 10,026 $ 13,769 $ 16,312 Provision credits (765 ) (3,447 ) (1,929 ) Charge-offs (117 ) (296 ) (614 ) Recoveries — — — Balance at December 31 $ 9,144 $ 10,026 $ 13,769 The following table presents the PCI allowance and recorded investment in loans at December 31, 2018 and December 31, 2017. (Dollars in thousands) December 31, 2018 December 31, 2017 Allowance for loan losses: ALLL for loans acquired with deteriorated credit quality $ 9,144 $ 10,026 Loans acquired with deteriorated credit quality 606,576 762,998 |
Allowance for Loan and Lease Losses | The following tables provide information on non-PCI impaired loans and leases, exclusive of loans and leases evaluated collectively as a homogeneous group, including interest income recognized in the period during which the loans and leases were considered impaired. December 31, 2018 (Dollars in thousands) With a recorded allowance With no recorded allowance Total Unpaid Related allowance recorded Non-PCI impaired loans and leases Construction and land development - commercial $ 1,897 $ 278 $ 2,175 $ 2,606 $ 490 Commercial mortgage 34,177 21,270 55,447 61,317 2,671 Other commercial real estate 243 617 860 946 42 Commercial and industrial and leases 7,153 2,715 9,868 14,695 1,137 Other 216 75 291 301 105 Residential mortgage 40,359 1,809 42,168 45,226 1,901 Revolving mortgage 25,751 3,101 28,852 31,371 2,515 Construction and land development - noncommercial 2,337 1,412 3,749 4,035 81 Consumer 2,940 80 3,020 3,405 885 Total non-PCI impaired loans and leases $ 115,073 $ 31,357 $ 146,430 $ 163,902 $ 9,827 December 31, 2017 (Dollars in thousands) With a recorded allowance With no recorded allowance Total Unpaid Related allowance recorded Non-PCI impaired loans and leases Construction and land development - commercial $ 788 $ — $ 788 $ 1,110 $ 185 Commercial mortgage 39,135 34,520 73,655 78,936 3,648 Other commercial real estate 1,351 506 1,857 2,267 209 Commercial and industrial and leases 8,216 1,672 9,888 13,046 1,062 Other — 521 521 521 — Residential mortgage 19,135 18,707 37,842 39,946 2,733 Revolving mortgage 5,875 17,895 23,770 25,941 1,085 Construction and land development - noncommercial 592 3,959 4,551 5,224 68 Consumer 2,107 667 2,774 3,043 738 Total non-PCI impaired loans and leases $ 77,199 $ 78,447 $ 155,646 $ 170,034 $ 9,728 Non-PCI impaired loans less than $500,000 that are collectively evaluated were $47.1 million and $49.1 million at December 31, 2018 , and 2017 , respectively. The following tables show the average non-PCI impaired loan balance and the interest income recognized by loan class for the years ended December 31, 2018 , 2017 and 2016 : Year ended December 31, 2018 (Dollars in thousands) YTD Average Balance YTD Interest Income Recognized Non-PCI impaired loans and leases: Construction and land development - commercial $ 1,734 $ 84 Commercial mortgage 65,943 2,569 Other commercial real estate 1,225 43 Commercial and industrial and leases 9,560 364 Other 135 3 Residential mortgage 41,368 1,237 Revolving mortgage 26,759 900 Construction and land development - noncommercial 3,677 172 Consumer 2,722 116 Total non-PCI impaired loans and leases $ 153,123 $ 5,488 Year ended December 31, 2017 Non-PCI impaired loans and leases: Construction and land development - commercial $ 858 $ 37 Commercial mortgage 73,815 2,596 Other commercial real estate 1,642 34 Commercial and industrial and leases 11,600 427 Other 426 22 Residential mortgage 33,818 990 Revolving mortgage 14,022 436 Construction and land development - noncommercial 3,383 145 Consumer 2,169 103 Total non-PCI impaired loans and leases $ 141,733 $ 4,790 Year ended December 31, 2016 Non-PCI impaired loans and leases: Construction and land development - commercial $ 2,700 $ 138 Commercial mortgage 82,146 2,671 Other commercial real estate 1,112 38 Commercial and industrial and leases 13,185 480 Other 687 33 Residential mortgage 26,774 805 Revolving mortgage 6,915 171 Construction and land development - noncommercial 983 50 Consumer 1,480 80 Total non-PCI impaired loans and leases $ 135,982 $ 4,466 |
Troubled Debt Restructuring, Summary of Accrual Status | The following table provides a summary of total TDRs by accrual status. Total TDRs at December 31, 2018 , were $156.1 million , of which $137.9 million were non-PCI and $18.2 million were PCI. Total TDRs at December 31, 2017 , were $164.6 million , of which $146.1 million were non-PCI and $18.5 million were PCI. December 31, 2018 December 31, 2017 (Dollars in thousands) Accruing Nonaccruing Total Accruing Nonaccruing Total Commercial loans Construction and land development - commercial $ 1,946 $ 352 $ 2,298 $ 4,089 $ 483 $ 4,572 Commercial mortgage 53,270 7,795 61,065 62,358 15,863 78,221 Other commercial real estate 851 9 860 1,012 788 1,800 Commercial and industrial and leases 7,986 2,060 10,046 8,320 1,958 10,278 Other 118 173 291 521 — 521 Total commercial loans 64,171 10,389 74,560 76,300 19,092 95,392 Noncommercial Residential mortgage 37,903 9,621 47,524 34,067 9,475 43,542 Revolving mortgage 20,492 8,196 28,688 17,673 5,180 22,853 Construction and land development - noncommercial 2,227 110 2,337 — — — Consumer and other 2,300 721 3,021 2,351 423 2,774 Total noncommercial loans 62,922 18,648 81,570 54,091 15,078 69,169 Total loans $ 127,093 $ 29,037 $ 156,130 $ 130,391 $ 34,170 $ 164,561 |
Troubled Debt Restructurings on Financing Receivables | Year ended December 31, 2018 Year ended December 31, 2017 All restructurings Restructurings with payment default All restructurings Restructurings with payment default Number of Loans Recorded investment at period end Number of Loans Recorded investment at period end Number of Loans Recorded investment at period end Number of Loans Recorded investment at period end (Dollars in thousands) Loans and leases Interest only period provided Commercial loans 3 $ 1,003 — $ — 5 $ 1,124 1 $ 634 Noncommercial loans — — — — 1 82 — — Total interest only 3 1,003 — — 6 1,206 1 634 Loan term extension Commercial loans 21 3,933 4 675 13 3,007 — — Noncommercial loans 21 1,554 4 190 34 3,510 2 273 Total loan term extension 42 5,486 8 865 47 6,517 2 273 Below market interest rate Commercial loans 85 12,859 24 2,998 92 14,811 32 3,392 Noncommercial loans 184 15,545 68 5,461 271 15,601 78 4,591 Total below market interest rate 269 28,404 92 8,459 363 30,412 110 7,983 Discharged from bankruptcy Commercial loans 26 2,043 8 825 39 3,012 26 708 Noncommercial loans 151 6,617 56 3,169 177 7,853 65 2,392 Total discharged from bankruptcy 177 8,660 64 3,994 216 10,865 91 3,100 Total restructurings 491 $ 43,553 164 $ 13,318 632 $ 49,000 204 $ 11,990 |
Premises and Equipment (Tables)
Premises and Equipment (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Property, Plant and Equipment [Abstract] | |
Premises and Equipment | Major classifications of premises and equipment at December 31, 2018 and 2017 are summarized as follows: (Dollars in thousands) Useful Life ( years ) 2018 2017 Land indefinite $ 306,734 $ 290,990 Premises and leasehold improvements 3 - 40 1,228,582 1,158,699 Furniture and equipment 3 - 10 560,923 489,067 Total 2,096,239 1,938,756 Less accumulated depreciation and amortization 892,060 800,325 Total premises and equipment $ 1,204,179 $ 1,138,431 |
Future Minimum Rental Payments for Operating Leases | Future minimum rental commitments for noncancellable operating leases with initial or remaining terms of one or more years consisted of the following at December 31, 2018 : (Dollars in thousands) Year ended December 31 2019 $ 18,058 2020 16,377 2021 14,564 2022 12,381 2023 10,434 Thereafter 38,494 Total minimum payments $ 110,308 |
Other Real Estate Owned (Tables
Other Real Estate Owned (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Banking and Thrift [Abstract] | |
Changes in Other Real Estate Owned | The following table explains changes in other real estate owned during 2018 and 2017 . (Dollars in thousands) Total Balance at January 1, 2017 $ 61,231 Additions 34,980 Additions acquired in the Guaranty acquisition 55 Sales (40,709 ) Write-downs (4,460 ) Balance at December 31, 2017 51,097 Additions 24,997 Additions acquired in the HomeBancorp acquisition 2,135 Additions acquired in the Palmetto Heritage acquisition 2,319 Sales (28,128 ) Write-downs (4,390 ) Balance at December 31, 2018 $ 48,030 At December 31, 2018 and 2017 , BancShares had $17.2 million and $19.8 million , respectively, of foreclosed residential real estate property in OREO. The recorded investment in consumer mortgage loans collateralized by residential real estate property in the process of foreclosure was $22.0 million and $26.9 million at December 31, 2018 , and December 31, 2017 , respectively. |
FDIC Shared-Loss Payable (Table
FDIC Shared-Loss Payable (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
FDIC Shared-Loss Receivable [Abstract] | |
Changes In Payable to FDIC | The following table provides changes in the FDIC shared-loss payable for the years ended December 31, 2018 and December 31, 2017 . (Dollars in thousands) 2018 2017 Beginning balance $ 101,342 $ 97,008 Accretion 4,023 3,851 Adjustments related to changes in assumptions 253 483 Ending balance $ 105,618 $ 101,342 |
Deposits (Tables)
Deposits (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Deposits [Abstract] | |
Deposits | Deposits at December 31 , 2018 and 2017 were as follows: (Dollars in thousands) 2018 2017 Demand $ 11,882,670 $ 11,237,375 Checking with interest 5,338,511 5,230,060 Money market accounts 8,194,818 8,059,271 Savings 2,499,750 2,340,449 Time 2,756,711 2,399,120 Total deposits $ 30,672,460 $ 29,266,275 |
Maturities Of Time Deposits | At December 31, 2018 , the scheduled maturities of time deposits were: (Dollars in thousands) Year ended December 31 2019 $ 1,895,313 2020 518,504 2021 115,643 2022 194,413 2023 32,838 Thereafter — Total time deposits $ 2,756,711 |
Short-Term Borrowings (Tables)
Short-Term Borrowings (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Short-term Debt [Abstract] | |
Schedule of Short-term Debt | Short-term borrowings at December 31 , 2018 and 2017 are as follows: (Dollars in thousands) 2018 2017 Repurchase agreements $ 543,936 $ 586,171 Notes payable to Federal Home Loan Banks 28,500 90,000 Federal funds purchased — 2,551 Subordinated notes payable — 15,000 Unamortized purchase accounting adjustments (149 ) 85 Total short-term borrowings $ 572,287 $ 693,807 |
Long-Term Obligations (Tables)
Long-Term Obligations (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Long-term Obligations [Abstract] | |
Schedule of Long-term Debt Instruments | Long-term obligations at December 31 , 2018 and 2017 include: (Dollars in thousands) 2018 2017 Junior subordinated debenture at 3-month LIBOR plus 1.75 percent maturing June 30, 2036 $ 88,145 $ 90,207 Junior subordinated debenture at 3-month LIBOR plus 2.25 percent maturing June 15, 2034 19,588 19,588 Junior subordinated debenture at 3-month LIBOR plus 2.85 percent maturing April 7, 2034 10,310 10,310 Junior subordinated debenture at 3-month LIBOR plus 2.00 percent maturing July 7, 2036 4,124 — Junior subordinated debentures at 7.00 percent maturing December 31, 2026 20,000 — Obligations under capitalized leases extending to December 2050 13,160 7,795 Notes payable to Federal Home Loan Bank of Atlanta with rates ranging from 1.64 percent to 3.06 percent and maturing through August 2023 165,205 745,221 Unamortized purchase accounting adjustments (1,426 ) (2,964 ) Other long-term debt 761 83 Total long-term obligations $ 319,867 $ 870,240 |
Schedule of Maturities of Long-term Debt | Long-term obligations maturing in each of the five years subsequent to December 31, 2018 and thereafter include: Year ended December 31 2019 $ 10,000 2020 12,693 2021 14,732 2022 13,754 2023 125,500 Thereafter 143,188 Total long-term obligations $ 319,867 |
Estimated Fair Values (Tables)
Estimated Fair Values (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Fair Value Disclosures [Abstract] | |
Estimated Fair Values For Certain Financial Assets And Financial Liabilities | For all other financial assets and financial liabilities, the carrying value is a reasonable estimate of the fair value as of December 31, 2018 and 2017 . The carrying value and fair value for these assets and liabilities are equivalent because they are relatively short term in nature and there is no interest rate or credit risk that would cause the fair value to differ from the carrying value. Cash and due from banks is classified on the fair value hierarchy as Level 1. Overnight investments, income earned not collected, short-term borrowings and accrued interest payable are considered Level 2. The table presents the carrying values and estimated fair values for financial instruments as of December 31, 2018 and 2017. December 31, 2018 December 31, 2017 (Dollars in thousands) Carrying value Fair value Carrying value Fair value Cash and due from banks $ 327,440 $ 327,440 $ 336,150 $ 336,150 Overnight investments 797,406 797,406 1,387,927 1,387,927 Investment securities available for sale 4,557,110 4,557,110 7,180,180 7,180,180 Investment securities held to maturity 2,184,653 2,201,502 76 81 Marketable equity securities 92,599 92,599 — — Loans held for sale 45,505 45,505 51,179 51,179 Net loans and leases 25,299,564 24,845,060 23,374,932 22,257,803 Income earned not collected 109,903 109,903 95,249 95,249 Federal Home Loan Bank stock 25,304 25,304 52,685 52,685 Mortgage and other servicing rights 24,066 29,532 21,945 26,170 Deposits 30,672,460 30,623,214 29,266,275 29,230,768 Short-term borrowings 572,287 572,287 693,807 693,807 Long-term obligations 319,867 332,678 870,240 852,112 Payable to the FDIC for shared-loss agreements 105,618 105,846 101,342 102,684 Accrued interest payable 3,712 3,712 3,952 3,952 |
Assets And Liabilities Carried At Fair Value On A Recurring Basis | Among BancShares’ assets and liabilities, investment securities available for sale, marketable equity securities and loans held for sale are reported at their fair values on a recurring basis. For assets and liabilities carried at fair value on a recurring basis, the following table provides fair value information as of December 31, 2018 and December 31, 2017 . December 31, 2018 Fair value measurements using: (Dollars in thousands) Fair value Level 1 Level 2 Level 3 Assets measured at fair value Investment securities available for sale U.S. Treasury $ 1,247,710 $ — $ 1,247,710 $ — Government agency 256,835 — 256,835 — Mortgage-backed securities 2,909,339 — 2,909,339 — Corporate bonds 139,101 — — 139,101 Other 4,125 — — 4,125 Total investment securities available for sale $ 4,557,110 $ — $ 4,413,884 $ 143,226 Marketable equity securities $ 92,599 $ 17,887 $ 74,712 — Loans held for sale $ 45,505 $ — $ 45,505 $ — December 31, 2017 Fair value measurements using: Fair value Level 1 Level 2 Level 3 Assets measured at fair value Investment securities available for sale U.S. Treasury $ 1,657,864 $ — $ 1,657,864 $ — Government agency 8,670 — 8,670 — Mortgage-backed securities 5,340,756 — 5,340,756 — Marketable equity securities 105,208 19,341 85,867 — Corporate bonds 59,963 — 59,963 — Other 7,719 — 7,719 — Total investment securities available for sale $ 7,180,180 $ 19,341 $ 7,160,839 $ — Loans held for sale $ 51,179 $ — $ 51,179 $ — |
Fair Value of Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation | The following table summarizes activity for Level 3 assets: December 31, 2018 (Dollars in thousands) Corporate bonds Other Balance at January 1, 2018 $ — $ — Transfers in 59,653 5,618 Amounts included in net income 169 22 Unrealized net (losses) gains included in other comprehensive income (1,043 ) 122 Acquisition 82,727 — Sales / Calls (2,405 ) (1,637 ) Balance at December 31, 2018 $ 139,101 $ 4,125 |
Fair Value Level 3 Significant Unobservable Input Assumptions | The following table presents quantitative information about Level 3 fair value measurements for fair value on a recurring basis at December 31, 2018 . (Dollars in thousands) December 31, 2018 Level 3 assets Valuation technique Significant unobservable input Fair Value Corporate bonds Indicative bid provided by broker Multiple factors, including but not limited to, current operations, financial condition, cash flows, and recently executed financing transactions related to the company $ 139,101 Other Indicative bid provided by broker Multiple factors, including but not limited to, current operations, financial condition, cash flows, and recently executed financing transactions related to the company 4,125 |
Fair Value Option | The following table summarizes the difference between the aggregate fair value and the unpaid principal balance for residential real estate originated for sale measured at fair value as of December 31, 2018 and 2017 . December 31, 2018 (Dollars in thousands) Fair Value Unpaid Principal Balance Difference Originated loans held for sale $ 45,505 $ 44,073 $ 1,432 December 31, 2017 Fair Value Unpaid Principal Balance Difference Originated loans held for sale $ 51,179 $ 49,796 $ 1,383 |
Assets And Liabilities Carried At Fair Value On A Nonrecurring Basis | For financial assets and liabilities carried at fair value on a nonrecurring basis, the following table provides fair value information as of December 31, 2018 and December 31, 2017 . December 31, 2018 Fair value measurements using: (Dollars in thousands) Fair value Level 1 Level 2 Level 3 Impaired loans $ 105,994 $ — $ — $ 105,994 Other real estate remeasured during current year 35,344 — — 35,344 December 31, 2017 Fair value measurements using: Fair value Level 1 Level 2 Level 3 Impaired loans $ 72,539 $ — $ — $ 72,539 Other real estate remeasured during current year 40,167 — — 40,167 |
Employee Benefit Plans (Tables)
Employee Benefit Plans (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Defined Benefit Plan Disclosure [Line Items] | |
Schedule of Amount Included in Accumulated Other Comprehensive Income (Loss) | Accumulated other comprehensive loss included the following at December 31, 2018 and 2017 : December 31, 2018 December 31, 2017 (Dollars in thousands) Accumulated other comprehensive loss Deferred tax benefit Accumulated other comprehensive loss, net of tax Accumulated other comprehensive loss Deferred tax benefit Accumulated other comprehensive loss, net of tax Unrealized losses on securities available for sale $ (50,007 ) $ (11,502 ) $ (38,505 ) $ (48,834 ) $ (17,889 ) $ (30,945 ) Unrealized losses on securities available for sale transferred to held to maturity (92,401 ) (21,252 ) (71,149 ) — — — Defined benefit pension items (163,030 ) (37,497 ) (125,533 ) (144,999 ) (53,650 ) (91,349 ) Total $ (305,438 ) $ (70,251 ) $ (235,187 ) $ (193,833 ) $ (71,539 ) $ (122,294 ) The following table highlights changes in accumulated other comprehensive (loss) income by component for the years ended December 31, 2018 and 2017 : (Dollars in thousands) Unrealized (losses) gains on securities available-for-sale (1) Unrealized losses on securities available for sale transferred to held to maturity (1) Defined benefit pension items (1) Total Balance at January 1, 2017 $ (45,875 ) $ — $ (89,317 ) $ (135,192 ) Other comprehensive income (loss) before reclassifications 17,635 — (8,156 ) 9,479 Amounts reclassified from accumulated other comprehensive loss (2,705 ) — 6,124 3,419 Net current period other comprehensive income (loss) 14,930 — (2,032 ) 12,898 Balance at December 31, 2017 (30,945 ) — (91,349 ) (122,294 ) Cumulative effect adjustments (29,751 ) — (20,300 ) (50,051 ) Other comprehensive income (loss) before reclassifications 22,461 (84,321 ) (24,649 ) (86,509 ) Amounts reclassified from accumulated other comprehensive loss (270 ) 13,172 10,765 23,667 Net current period other comprehensive income (loss) 22,191 (71,149 ) (13,884 ) (62,842 ) Balance at December 31, 2018 $ (38,505 ) $ (71,149 ) $ (125,533 ) $ (235,187 ) (1) All amounts are net of tax. Amounts in parentheses indicate debits. |
Schedule of Expected Benefit Payments | Cash Flows The following are estimated payments to pension plan participants in the indicated periods for each plan: (Dollars in thousands) BancShares Plan Bancorporation Plan 2019 $ 27,050 $ 7,044 2020 29,137 7,473 2021 31,260 7,863 2022 33,168 8,284 2023 35,031 8,685 2024-2028 201,126 48,868 |
Deferred Benefit Plans Liability Rollforward | The following table provides the accrued liability as of December 31, 2018 and 2017 , and the changes in the accrued liability during the years then ended: (Dollars in thousands) 2018 2017 Present value of accrued liability as of January 1 $ 37,299 $ 38,597 Liability assumed in the Capital Commerce merger 808 — Benefit expense and interest cost 535 3,262 Benefits paid (4,579 ) (4,560 ) Present value of accrued liability as of December 31 $ 34,063 $ 37,299 Discount rate at December 31 4.38 % 3.76 % |
BancShares Plan | |
Defined Benefit Plan Disclosure [Line Items] | |
Schedule of Net Funded Status | The following table provides the changes in benefit obligation and plan assets and the funded status of the plan at December 31, 2018 and 2017 . (Dollars in thousands) 2018 2017 Change in benefit obligation Projected benefit obligation at January 1 $ 749,948 $ 673,227 Service cost 13,582 12,638 Interest cost 28,376 28,940 Actuarial (gain) loss (77,484 ) 57,041 Benefits paid (23,507 ) (21,898 ) Projected benefit obligation at December 31 690,915 749,948 Change in plan assets Fair value of plan assets at January 1 712,999 600,616 Actual return on plan assets (48,025 ) 84,281 Employer contributions 50,000 50,000 Benefits paid (23,507 ) (21,898 ) Fair value of plan assets at December 31 691,467 712,999 Funded status at December 31 $ 552 $ (36,949 ) |
Schedule of Amounts Recognized in the Balance Sheets | The amounts recognized in the consolidated balance sheets at December 31, 2018 and 2017 consist of: (Dollars in thousands) 2018 2017 Other assets $ 552 $ — Other liabilities — (36,949 ) Net asset (liability) recognized $ 552 $ (36,949 ) |
Schedule of Amount Included in Accumulated Other Comprehensive Income (Loss) | The following table details the amounts recognized in accumulated other comprehensive income at December 31, 2018 and 2017 . (Dollars in thousands) 2018 2017 Net loss $ 130,564 $ 125,745 Prior service cost 57 137 Accumulated other comprehensive loss, excluding income taxes $ 130,621 $ 125,882 |
Schedule of Amounts in Accumulated Other Comprehensive Income (Loss) to be Recognized over Next Fiscal Year | The following table provides expected amortization amounts for 2019 . (Dollars in thousands) Actuarial loss $ 8,455 Prior service cost 57 Total $ 8,512 |
Schedule of Net Benefit Costs | The following table shows the components of periodic benefit cost related to the pension plan and changes in plan assets and benefit obligations recognized in OCI for the years ended December 31, 2018, 2017 and 2016 . Year ended December 31 (Dollars in thousands) 2018 2017 2016 Service cost $ 13,582 $ 12,638 $ 12,618 Interest cost 28,376 28,940 28,892 Expected return on assets (47,867 ) (42,074 ) (36,643 ) Amortization of prior service cost 79 210 210 Amortization of net actuarial loss 13,589 8,855 6,859 Total net periodic benefit cost 7,759 8,569 11,936 Current year actuarial loss 18,407 14,834 56,268 Amortization of actuarial loss (13,589 ) (8,855 ) (6,859 ) Amortization of prior service cost (79 ) (210 ) (210 ) Total recognized in other comprehensive income 4,739 5,769 49,199 Total recognized in net periodic benefit cost and other comprehensive income $ 12,498 $ 14,338 $ 61,135 |
Schedule of Assumptions Used | The assumptions used to determine the benefit obligations at December 31, 2018 and 2017 are as follows: (Dollars in thousands) 2018 2017 Discount rate 4.38 % 3.76 % Rate of compensation increase 5.60 4.00 The assumptions used to determine the net periodic benefit cost for the years ended December 31, 2018, 2017 and 2016 , are as follows: (Dollars in thousands) 2018 2017 2016 Discount rate 3.76 % 4.30 % 4.68 % Rate of compensation increase 4.00 4.00 4.00 Expected long-term return on plan assets 7.50 7.50 7.50 |
Schedule of Fair Value and Allocation of Plan Assets | BancShares Plan The fair values of pension plan assets at December 31, 2018 and 2017 , by asset class are as follows: December 31, 2018 (Dollars in thousands) Market Value Quoted prices in Significant Significant Target Allocation Actual % Cash and equivalents $ 16,236 $ 16,236 — — 0 - 5% 2 % Equity securities 30 - 70% 64 % Common and preferred stock 117,300 117,300 — — Mutual funds 321,023 319,254 1,769 — Fixed income 15 - 45% 30 % U.S. government and government agency securities 65,545 — 65,545 — Corporate bonds 119,469 — 119,469 — Mutual funds 23,813 23,813 — — Alternative investments 0 - 30% 4 % Mutual funds 28,081 28,081 — — Total pension assets $ 691,467 $ 504,684 $ 186,783 $ — 100 % December 31, 2017 Market Value Quoted prices in Significant Significant Target Allocation Actual % Cash and equivalents $ 67,084 $ 67,084 $ — $ — 0 - 5% 9 % Equity securities 30 - 70% 65 % Common and preferred stock 76,920 76,920 — — Mutual funds 381,747 360,175 21,572 — Fixed income 15 - 45% 23 % U.S. government and government agency securities 60,663 — 60,663 — Corporate bonds 83,571 — 83,571 — Mutual funds 20,497 20,497 — — Alternative investments 0 - 30% 3 % Mutual funds 22,517 22,517 — — Total pension assets $ 712,999 $ 547,193 $ 165,806 $ — 100 % |
Bancorporation Plan | |
Defined Benefit Plan Disclosure [Line Items] | |
Schedule of Net Funded Status | The following table provides the changes in benefit obligation and plan assets and the funded status of the plan at December 31, 2018 and 2017 . (Dollars in thousands) 2018 2017 Change in benefit obligation Projected benefit obligation at January 1 $ 169,480 $ 156,831 Service cost 2,572 2,548 Interest cost 6,357 6,653 Actuarial (gain) loss (10,268 ) 9,168 Benefits paid (6,081 ) (5,720 ) Projected benefit obligation at December 31 162,060 169,480 Change in plan assets Fair value of plan assets at January 1 168,591 152,084 Actual return on plan assets (11,443 ) 22,227 Benefits paid (6,081 ) (5,720 ) Fair value of plan assets at December 31 151,067 168,591 Funded status at December 31 $ (10,993 ) $ (889 ) |
Schedule of Amounts Recognized in the Balance Sheets | The amounts recognized in the Consolidated Balance Sheets at December 31, 2018 and 2017 consist of: (Dollars in thousands) 2018 2017 Other assets $ — $ — Other liabilities (10,993 ) (889 ) Net liability recognized $ (10,993 ) $ (889 ) |
Schedule of Amount Included in Accumulated Other Comprehensive Income (Loss) | The following table details the amounts recognized in accumulated other comprehensive loss at December 31, 2018 and 2017 . (Dollars in thousands) 2018 2017 Net loss $ 32,409 $ 19,117 Prior service cost — — Accumulated other comprehensive loss, excluding income taxes $ 32,409 $ 19,117 |
Schedule of Amounts in Accumulated Other Comprehensive Income (Loss) to be Recognized over Next Fiscal Year | The following table provides expected amortization amounts for 2019 . (Dollars in thousands) Actuarial loss $ 2,505 Prior service cost — Total $ 2,505 |
Schedule of Net Benefit Costs | The following table shows the components of periodic benefit cost related to the pension plan and changes in plan assets and benefit obligations recognized in OCI for the years ended December 31, 2018, 2017 and 2016 . Year ended December 31 (Dollars in thousands) 2018 2017 2016 Service cost $ 2,572 $ 2,548 $ 2,567 Interest cost 6,357 6,653 6,775 Expected return on assets (12,429 ) (11,170 ) (11,101 ) Amortization of net actuarial loss 313 655 — Total net periodic benefit income (3,187 ) (1,314 ) (1,759 ) Current year actuarial gain (loss) 13,605 (1,889 ) 14,157 Amortization of actuarial loss (313 ) (655 ) — Total recognized in other comprehensive income 13,292 (2,544 ) 14,157 Total recognized in net periodic benefit cost and other comprehensive income $ 10,105 $ (3,858 ) $ 12,398 |
Schedule of Assumptions Used | The assumptions used to determine the benefit obligations at December 31, 2018 and 2017 are as follows: (Dollars in thousands) 2018 2017 Discount rate 4.38 % 3.76 % Rate of compensation increase 5.60 4.00 The assumptions used to determine the net periodic benefit cost for the years ended December 31, 2018, 2017 and 2016 are as follows: (Dollars in thousands) 2018 2017 2016 Discount rate 3.76 % 4.30 % 4.68 % Rate of compensation increase 4.00 4.00 4.00 Expected long-term return on plan assets 7.50 7.50 7.50 |
Schedule of Fair Value and Allocation of Plan Assets | December 31, 2018 (Dollars in thousands) Market Value Quoted prices in Significant Significant Target Allocation Actual % Cash and equivalents $ 2,793 $ 2,793 $ — $ — 0 - 5% 2 % Equity securities 30 - 70% 66 % Common and preferred stock 26,639 26,639 — — Mutual funds 74,305 73,850 455 — Fixed income 15 - 45% 27 % U.S. government and government agency securities 13,749 — 13,749 — Corporate bonds 20,889 — 20,889 — Mutual funds 5,748 5,748 — — Alternative investments 0 - 30% 5 % Mutual funds 6,944 6,944 — — Total pension assets $ 151,067 $ 115,974 $ 35,093 — 100 % December 31, 2017 Market Value Quoted prices in Significant Significant Target Allocation Actual % Cash and equivalents $ 3,941 $ 3,941 $ — $ — 0 - 5% 2 % Equity securities 30 - 70% 70 % Common and preferred stock 26,892 26,892 — — Mutual funds 90,466 84,954 5,512 — Fixed income 15 - 45% 25 % U.S. government and government agency securities 15,798 — 15,798 — Corporate bonds 20,572 — 20,572 — Mutual funds 5,163 5,163 — — Alternative investments 0 - 30% 3 % Mutual funds 5,759 5,759 — — Total pension assets $ 168,591 $ 126,709 $ 41,882 — 100 % |
Other Noninterest Income and _2
Other Noninterest Income and Other Noninterest Expense (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Noninterest Expense [Abstract] | |
Schedule of Other Operating Cost and Expense, by Component | Other noninterest expense for the years ended December 31, 2018, 2017 and 2016 included the following: (Dollars in thousands) 2018 2017 2016 Telecommunications $ 10,471 $ 12,172 $ 14,496 Consultant 14,345 14,963 10,931 Core deposit intangible amortization 17,165 17,194 16,851 Advertising 11,650 11,227 10,239 Other 93,432 86,874 93,390 Total other noninterest expense $ 147,063 $ 142,430 $ 145,907 |
Income Taxes (Tables)
Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Income Tax Disclosure [Abstract] | |
Schedule of Components of Income Tax Expense (Benefit) | At December 31 , 2018, 2017 and 2016 income tax expense consisted of the following: (Dollars in thousands) 2018 2017 2016 Current tax expense Federal $ 95,151 $ 87,992 $ 84,946 State 21,523 6,116 7,493 Total current tax expense 116,674 94,108 92,439 Deferred tax expense (benefit) Federal (10,944 ) 115,392 23,144 State (2,433 ) 10,446 10,002 Total deferred tax expense (benefit) (13,377 ) 125,838 33,146 Total income tax expense $ 103,297 $ 219,946 $ 125,585 |
Schedule of Effective Income Tax Rate Reconciliation | Income tax expense differed from the amounts computed by applying the statutory federal income tax rate of 21 percent for 2018 and 35 percent for 2017 and 2016 to pretax income as a result of the following: (Dollars in thousands) 2018 2017 2016 Income taxes at federal statutory rates $ 105,758 $ 190,294 $ 122,874 (Reduction) increase in income taxes resulting from: Nontaxable income on loans, leases and investments, net of nondeductible expenses (1,796 ) (2,525 ) (2,901 ) Nondeductible FDIC insurance expense 2,348 — — State and local income taxes, including change in valuation allowance, net of federal income tax benefit 15,081 10,765 11,372 Effect of federal rate change (15,736 ) 25,762 — Tax credits net of amortization (2,891 ) (4,840 ) (4,138 ) Other, net 533 490 (1,622 ) Total income tax expense $ 103,297 $ 219,946 $ 125,585 |
Schedule of Deferred Tax Assets and Liabilities | The net deferred tax asset included the following components at December 31 , 2018 and 2017: (Dollars in thousands) 2018 2017 Allowance for loan and lease losses $ 53,391 $ 50,853 Pension liability — 704 Executive separation from service agreements 7,927 8,548 Net operating loss carryforwards 6,862 2,685 Net unrealized loss included in comprehensive income 32,663 10,849 Employee compensation 11,145 4,192 FDIC assisted transactions timing differences 7,622 — Other reserves 5,574 5,570 Other 9,555 5,924 Deferred tax asset 134,739 89,325 Accelerated depreciation 4,987 7,562 Lease financing activities 12,674 9,131 Net deferred loan fees and costs 10,651 8,708 Intangible assets 11,713 12,252 Security, loan and debt valuations 4,557 7,018 FDIC assisted transactions timing differences — 1,113 Pension liability 6,287 — Other 1,722 4,565 Deferred tax liability 52,591 50,349 Net deferred tax asset $ 82,148 $ 38,976 |
Schedule of Unrecognized Tax Benefits | The following table provides a rollforward of BancShares’ gross unrecognized tax benefits, excluding interest and penalties, during the years ended December 31 , 2018, 2017 and 2016: (Dollars in thousands) 2018 2017 2016 Unrecognized tax benefits at the beginning of the year $ 29,004 $ 28,879 $ 5,975 Reductions related to tax positions taken in prior year (1,054 ) (44 ) (327 ) Additions related to tax positions taken in current year 1,433 169 23,231 Reductions related to lapse of statute of limitations (1,128 ) — — Unrecognized tax benefits at the end of the year $ 28,255 $ 29,004 $ 28,879 |
Transactions with Related Per_2
Transactions with Related Persons (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Related Party Transactions [Abstract] | |
Schedule of Related Party Transactions | For those identified as Related Persons as of December 31, 2018 , the following table provides an analysis of changes in the loans outstanding during 2018 and 2017 : Year ended December 31 (dollars in thousands) 2018 2017 Balance at January 1 $ 74 $ 353 New loans 134 11 Repayments (9 ) (290 ) Balance at December 31 $ 199 $ 74 |
Goodwill and Intangible Assets
Goodwill and Intangible Assets (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Goodwill [Line Items] | |
Changes in Goodwill | The following table presents the changes in the carrying amount of goodwill for the years ended December 31, 2018 and 2017 : (Dollars in thousands) 2018 2017 Balance at January 1 $ 150,601 $ 150,601 Acquired in the HomeBancorp acquisition 57,616 — Acquired in the Capital Commerce acquisition 10,680 — Acquired in the Palmetto Heritage acquisition 17,450 — Balance at December 31 $ 236,347 $ 150,601 |
Mortgage Servicing Rights Key Economic Assumptions Used to Value | Key economic assumptions used to value mortgage servicing rights as of December 31, 2018 and 2017 , were as follows: 2018 2017 Discount rate - conventional fixed loans 9.69 % 9.41 % Discount rate - all loans excluding conventional fixed loans 10.69 % 10.41 % Weighted average constant prepayment rate 9.26 % 10.93 % Weighted average cost to service a loan $ 72.65 $ 64.03 |
Schedule of Mortgage Servicing Rights at Amortized Cost | The activity of the servicing asset for the years ended December 31, 2018 , 2017 and 2016 is presented in the following table: (Dollars in thousands) 2018 2017 2016 Balance at January 1 $ 21,945 $ 20,415 $ 19,351 Servicing rights originated 5,258 7,174 5,931 Amortization (5,807 ) (5,648 ) (4,958 ) Valuation allowance reversal — 4 91 Balance at December 31 $ 21,396 $ 21,945 $ 20,415 |
Schedule of Valuation Allowance for Impairment of Recognized Servicing Assets [Table Text Block] | |
Schedule of Other Intangible Assets | The following information relates to other intangible assets, all customer-related, which are being amortized over their estimated useful lives: (Dollars in thousands) 2018 2017 Balance at January 1 $ 51,151 $ 57,625 Acquired in the Harvest Community Bank acquisition — 850 Acquired in the Guaranty acquisition — 9,870 Acquired in the HomeBancorp acquisition 9,860 — Acquired in the Capital Commerce acquisition 2,680 — Acquired in the Palmetto Heritage acquisition 1,706 — Amortization (17,165 ) (17,194 ) Balance at December 31 $ 48,232 $ 51,151 The gross amount of other intangible assets and accumulated amortization as of December 31, 2018 and 2017 , are: (Dollars in thousands) 2018 2017 Gross balance $ 143,007 $ 128,761 Accumulated amortization (94,775 ) (77,610 ) Carrying value $ 48,232 $ 51,151 |
Future Amortization Expense Schedule | Based on current estimated useful lives and carrying values, BancShares anticipates amortization expense for core deposit intangibles in subsequent periods will be: (Dollars in thousands) 2019 $ 14,964 2020 11,729 2021 8,706 2022 5,805 2023 and subsequent 7,028 |
Shareholders' Equity, Dividen_2
Shareholders' Equity, Dividends Restrictions and Other Regulatory Matters (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Regulatory Capital Requirements [Abstract] | |
Schedule of Compliance with Regulatory Capital Requirements | Following is an analysis of capital ratios under Basel III guidelines for BancShares and FCB as of December 31, 2018 and 2017 : December 31, 2018 December 31, 2017 (Dollars in thousands) Amount Ratio Requirements to be well-capitalized Amount Ratio Requirements to be well-capitalized BancShares Tier 1 risk-based capital $ 3,463,307 12.67 % 8.00 % $ 3,287,364 12.88 % 8.00 % Common equity Tier 1 3,463,307 12.67 6.50 3,287,364 12.88 6.50 Total risk-based capital 3,826,626 13.99 10.00 3,626,789 14.21 10.00 Leverage capital 3,463,307 9.77 5.00 3,287,364 9.47 5.00 FCB Tier 1 risk-based capital 3,315,742 12.17 8.00 3,189,709 12.54 8.00 Common equity Tier 1 3,315,742 12.17 6.50 3,189,709 12.54 6.50 Total risk-based capital 3,574,561 13.12 10.00 3,422,634 13.46 10.00 Leverage capital 3,315,742 9.39 5.00 3,189,709 9.22 5.00 |
Commitments and Contingencies C
Commitments and Contingencies Commitments and Contingencies (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Commitments and Contingencies Disclosure [Abstract] | |
Schedule of Fair Value, Off-balance Sheet Risks [Table Text Block] | The following table presents the commitments to extend credit and unfunded commitments as of December 31, 2018 and 2017 : (Dollars in thousands) 2018 2017 Unused commitments to extend credit $ 10,054,712 $ 9,629,365 Standby letters of credit 96,467 81,530 Unfunded commitments for investments in affordable housing projects 67,952 61,819 |
Accumulated Other Comprehensi_2
Accumulated Other Comprehensive Loss (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | |
Schedule Of Accumulated Other Comprehensive Income (Loss) | Accumulated other comprehensive loss included the following at December 31, 2018 and 2017 : December 31, 2018 December 31, 2017 (Dollars in thousands) Accumulated other comprehensive loss Deferred tax benefit Accumulated other comprehensive loss, net of tax Accumulated other comprehensive loss Deferred tax benefit Accumulated other comprehensive loss, net of tax Unrealized losses on securities available for sale $ (50,007 ) $ (11,502 ) $ (38,505 ) $ (48,834 ) $ (17,889 ) $ (30,945 ) Unrealized losses on securities available for sale transferred to held to maturity (92,401 ) (21,252 ) (71,149 ) — — — Defined benefit pension items (163,030 ) (37,497 ) (125,533 ) (144,999 ) (53,650 ) (91,349 ) Total $ (305,438 ) $ (70,251 ) $ (235,187 ) $ (193,833 ) $ (71,539 ) $ (122,294 ) The following table highlights changes in accumulated other comprehensive (loss) income by component for the years ended December 31, 2018 and 2017 : (Dollars in thousands) Unrealized (losses) gains on securities available-for-sale (1) Unrealized losses on securities available for sale transferred to held to maturity (1) Defined benefit pension items (1) Total Balance at January 1, 2017 $ (45,875 ) $ — $ (89,317 ) $ (135,192 ) Other comprehensive income (loss) before reclassifications 17,635 — (8,156 ) 9,479 Amounts reclassified from accumulated other comprehensive loss (2,705 ) — 6,124 3,419 Net current period other comprehensive income (loss) 14,930 — (2,032 ) 12,898 Balance at December 31, 2017 (30,945 ) — (91,349 ) (122,294 ) Cumulative effect adjustments (29,751 ) — (20,300 ) (50,051 ) Other comprehensive income (loss) before reclassifications 22,461 (84,321 ) (24,649 ) (86,509 ) Amounts reclassified from accumulated other comprehensive loss (270 ) 13,172 10,765 23,667 Net current period other comprehensive income (loss) 22,191 (71,149 ) (13,884 ) (62,842 ) Balance at December 31, 2018 $ (38,505 ) $ (71,149 ) $ (125,533 ) $ (235,187 ) (1) All amounts are net of tax. Amounts in parentheses indicate debits. |
Reclassification out of Accumulated Other Comprehensive Income | The following table presents the amounts reclassified from accumulated other comprehensive (loss) income and the line item affected in the statement where net income is presented for the twelve months ended December 31, 2018 and 2017 : (Dollars in thousands) Year ended December 31, 2018 Details about accumulated other comprehensive (loss) income Amount reclassified from accumulated other comprehensive (loss) income (1) Affected line item in the statement where net income is presented Unrealized gains and losses on available for sale securities $ 351 Securities gains, net (81 ) Income taxes $ 270 Net income Amortization of unrealized losses on securities available for sale transferred to held to maturity $ (17,106 ) Net interest income 3,934 Income taxes $ (13,172 ) Net Income Amortization of defined benefit pension items Prior service costs $ (79 ) Salaries and wages Actuarial losses (13,902 ) Other (13,981 ) Noninterest expense 3,216 Income taxes $ (10,765 ) Net income Total reclassifications for the period $ (23,667 ) Year ended December 31, 2017 Details about accumulated other comprehensive (loss) income Amount reclassified from accumulated other comprehensive (loss) income (1) Affected line item in the statement where net income is presented Unrealized gains and losses on available for sale securities $ 4,293 Securities gains, net (1,588 ) Income taxes $ 2,705 Net income Amortization of defined benefit pension items Prior service costs $ (210 ) Salaries and wages Actuarial losses (9,510 ) Other (9,720 ) Noninterest expense 3,596 Income taxes $ (6,124 ) Net income Total reclassifications for the period $ (3,419 ) (1) Amounts in parentheses indicate debits to profit/loss. |
Parent Company Financial Stat_2
Parent Company Financial Statements (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Condensed Financial Information Disclosure [Abstract] | |
Condensed Balance Sheets | Parent Company Condensed Balance Sheets (Dollars in thousands) December 31, 2018 December 31, 2017 Assets Cash and due from banks $ 7,188 $ 45,411 Overnight investments 385 14,476 Investment in marketable equity securities 92,599 — Investment securities available for sale 6,456 117,513 Investment in banking subsidiaries 3,314,292 3,203,491 Investment in other subsidiaries 41,830 41,165 Due from subsidiaries 814 4 Note to banking subsidiaries 100,000 — Other assets 42,810 46,674 Total assets $ 3,606,374 $ 3,468,734 Liabilities and Shareholders' Equity Short-term borrowings $ — $ 15,000 Long-term obligations 105,546 107,479 Due to subsidiaries 299 728 Other liabilities 11,575 11,463 Shareholders' equity 3,488,954 3,334,064 Total liabilities and shareholders' equity $ 3,606,374 $ 3,468,734 |
Condensed Income Statements | Parent Company Condensed Income Statements Year ended December 31 (Dollars in thousands) 2018 2017 2016 Interest and dividend income $ 1,362 $ 921 $ 1,110 Interest expense 5,154 4,814 6,067 Net interest loss (3,792 ) (3,893 ) (4,957 ) Dividends from banking subsidiaries 242,910 50,424 90,055 Marketable equity securities losses, net (7,610 ) — — Other income 347 8,437 9,330 Other operating expense 11,127 6,881 5,641 Income before income tax benefit and equity in undistributed net income of subsidiaries 220,728 48,087 88,787 Income tax benefit (5,184 ) (5,395 ) (730 ) Income before equity in undistributed net income of subsidiaries 225,912 53,482 89,517 Equity in undistributed net income of subsidiaries 174,401 270,270 135,965 Net income $ 400,313 $ 323,752 $ 225,482 |
Condensed Statements of Cash Flows | Parent Company Condensed Statements of Cash Flows Year ended December 31 (Dollars in thousands) 2018 2017 2016 OPERATING ACTIVITIES Net income $ 400,313 $ 323,752 $ 225,482 Adjustments Undistributed net income of subsidiaries (174,401 ) (270,270 ) (135,965 ) Net amortization of premiums and discounts 88 759 398 Change in the fair value of marketable equity securities 7,610 — — Gain on extinguishment of debt (160 ) (919 ) (1,717 ) Securities gains — (8,003 ) (9,446 ) Change in other assets 3,657 (10,509 ) (980 ) Change in other liabilities (2,595 ) 6,310 2,483 Net cash provided by operating activities 234,512 41,120 80,255 INVESTING ACTIVITIES Net change in loans (100,000 ) — — Net change in due to subsidiaries (810 ) (4 ) — Net change in overnight investments 14,091 11,681 (24,741 ) Purchases of marketable equity securities (2,818 ) — — Proceeds from sales of marketable equity securities 9,528 Purchases of investment securities (6,438 ) (28,012 ) (93,003 ) Proceeds from sales, calls, and maturities of securities 9,997 32,463 38,316 Net cash (used) provided by investing activities (76,450 ) 16,128 (79,428 ) FINANCING ACTIVITIES Net change in due from subsidiaries 429 (1,622 ) 2,296 Net change in short-term borrowings (15,000 ) — — Repayment of long-term obligations (1,840 ) (4,081 ) (5,302 ) Repurchase of common stock (163,095 ) — — Cash dividends paid (16,779 ) (14,412 ) (14,412 ) Net cash used by financing activities (196,285 ) (20,115 ) (17,418 ) Net change in cash (38,223 ) 37,133 (16,591 ) Cash balance at beginning of year 45,411 8,278 24,869 Cash balance at end of year $ 7,188 $ 45,411 $ 8,278 CASH PAYMENTS FOR: Interest $ 5,154 $ 4,814 $ 4,006 Income taxes 73,806 88,565 108,741 |
Accounting Policies and Basis_3
Accounting Policies and Basis of Presentation - Summary of Significant Accounting Policies (Details) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2018USD ($)votebasis_pointsbranch | Dec. 31, 2017USD ($) | Dec. 31, 2016USD ($) | Jan. 01, 2018USD ($) | |
Property, Plant and Equipment [Line Items] | ||||
Nonmarketable Securities and Federal Home Loan Bank Stock | $ 25,300 | $ 52,700 | ||
Period fair values are subject to refinement | 1 year | |||
Number of branches | branch | 551 | |||
Amortization Method Qualified Affordable Housing Project Investments | $ 147,300 | 128,000 | ||
Cumulative effect of new accounting principle in period of adoption | $ (50,051) | |||
Merchant processing | 81,300 | $ 69,200 | ||
Cardholder processing | 27,800 | 20,800 | ||
Cardholder Reward Programs | $ 10,000 | $ 10,600 | ||
Cumulative effect of adoption of ASU 2018-02 | ||||
Property, Plant and Equipment [Line Items] | ||||
Cumulative effect of new accounting principle in period of adoption | 0 | |||
Cumulative effect of adoption of ASU 2016-01 | ||||
Property, Plant and Equipment [Line Items] | ||||
Cumulative effect of new accounting principle in period of adoption | 0 | |||
Class A Common Stock | ||||
Property, Plant and Equipment [Line Items] | ||||
Votes per share of common stock | vote | 1 | |||
Class B Common Stock | ||||
Property, Plant and Equipment [Line Items] | ||||
Votes per share of common stock | vote | 16 | |||
Minimum | ||||
Property, Plant and Equipment [Line Items] | ||||
New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Quantification | $ 70,000 | |||
Maximum | ||||
Property, Plant and Equipment [Line Items] | ||||
New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Quantification | $ 80,000 | |||
Income tax ASU cumulative effect adjustment [Member] | Cumulative effect of adoption of ASU 2018-02 | ||||
Property, Plant and Equipment [Line Items] | ||||
Cumulative effect of new accounting principle in period of adoption | 31,300 | |||
Financial Instruments ASU cumulative effect adjustment | ||||
Property, Plant and Equipment [Line Items] | ||||
Cumulative effect of new accounting principle in period of adoption | $ 18,700 | |||
Capital basis points | Minimum | ||||
Property, Plant and Equipment [Line Items] | ||||
New Accounting Pronouncement or Change in Accounting Principle Effect of Adoption Capital Quantification | basis_points | 3 | |||
Capital basis points | Maximum | ||||
Property, Plant and Equipment [Line Items] | ||||
New Accounting Pronouncement or Change in Accounting Principle Effect of Adoption Capital Quantification | basis_points | 4 |
Business Combinations - Narrati
Business Combinations - Narrative (Details) - USD ($) | Jan. 10, 2019 | Nov. 15, 2018 | Nov. 01, 2018 | Oct. 02, 2018 | May 01, 2018 | Dec. 18, 2017 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | May 05, 2017 | Jan. 13, 2017 |
Business Acquisition [Line Items] | |||||||||||
Total assets | $ 35,408,629,000 | $ 34,527,512,000 | |||||||||
Loans and Leases | 25,523,276,000 | 23,596,825,000 | |||||||||
Deposits | 30,672,460,000 | 29,266,275,000 | |||||||||
PCI loans | 30,190,000 | 199,682,000 | $ 80,690,000 | ||||||||
Goodwill recorded for Palmetto Heritage | 236,347,000 | 150,601,000 | 150,601,000 | ||||||||
Merger-related expenses | 6,462,000 | 9,015,000 | 5,341,000 | ||||||||
Gain on acquisitions | 0 | 134,745,000 | $ 5,831,000 | ||||||||
First South Bancorp | |||||||||||
Business Acquisition [Line Items] | |||||||||||
Total assets | 238,500,000 | ||||||||||
Loans and Leases | 180,900,000 | ||||||||||
Deposits | 204,100,000 | ||||||||||
First South Bancorp | Subsequent Event | |||||||||||
Business Acquisition [Line Items] | |||||||||||
Share price (usd per share) | $ 1.15 | ||||||||||
Purchase Price | $ 37,500,000 | ||||||||||
Biscayne Bancshares | |||||||||||
Business Acquisition [Line Items] | |||||||||||
Share price (usd per share) | $ 25.05 | ||||||||||
Purchase Price | $ 118,700,000 | ||||||||||
Total assets | 1,010,000,000 | ||||||||||
Loans and Leases | 850,300,000 | ||||||||||
Deposits | 746,400,000 | ||||||||||
Palmetto Heritage Bancshares | |||||||||||
Business Acquisition [Line Items] | |||||||||||
Share price (usd per share) | $ 135 | ||||||||||
Purchase Price | $ 30,426,000 | ||||||||||
Total assets acquired | 162,248,000 | ||||||||||
Total non-PCI loans and leases | 131,283,000 | $ 131,300,000 | |||||||||
PCI loans | 3,863,000 | 3,863,000 | |||||||||
Total liabilities assumed | 149,272,000 | ||||||||||
Deposits | 124,892,000 | ||||||||||
Goodwill recorded for Palmetto Heritage | 17,450,000 | ||||||||||
Merger-related expenses | 546,000 | ||||||||||
Revenue of acquired business | 1,200,000 | ||||||||||
Intangible assets | 1,706,000 | ||||||||||
Palmetto Heritage Bancshares | Core deposits | |||||||||||
Business Acquisition [Line Items] | |||||||||||
Core deposit intangibles | $ 1,700,000 | ||||||||||
Capital Commerce Bancorp | |||||||||||
Business Acquisition [Line Items] | |||||||||||
Share price (usd per share) | $ 4.75 | ||||||||||
Purchase Price | $ 28,063,000 | ||||||||||
Total assets acquired | 221,887,000 | ||||||||||
Total non-PCI loans and leases | 173,354,000 | 173,400,000 | |||||||||
PCI loans | 10,772,000 | 10,772,000 | |||||||||
Total liabilities assumed | 204,504,000 | ||||||||||
Deposits | 172,387,000 | ||||||||||
Goodwill recorded for Palmetto Heritage | 10,680,000 | ||||||||||
Merger-related expenses | 1,200,000 | ||||||||||
Revenue of acquired business | 3,200,000 | ||||||||||
Intangible assets | 2,680,000 | ||||||||||
Capital Commerce Bancorp | Core deposits | |||||||||||
Business Acquisition [Line Items] | |||||||||||
Core deposit intangibles | $ 2,700,000 | ||||||||||
HomeBancorp Inc. | |||||||||||
Business Acquisition [Line Items] | |||||||||||
Share price (usd per share) | $ 15.03 | ||||||||||
Purchase Price | $ 112,657,000 | $ 112,700,000 | |||||||||
Total assets acquired | 842,693,000 | ||||||||||
Total non-PCI loans and leases | 550,618,000 | 550,600,000 | |||||||||
PCI loans | 15,555,000 | 15,555,000 | |||||||||
Total liabilities assumed | 787,652,000 | ||||||||||
Deposits | 619,589,000 | ||||||||||
Goodwill recorded for Palmetto Heritage | 57,616,000 | ||||||||||
Merger-related expenses | 2,300,000 | ||||||||||
Revenue of acquired business | 17,400,000 | ||||||||||
Intangible assets | 13,206,000 | ||||||||||
HomeBancorp Inc. | Core deposits | |||||||||||
Business Acquisition [Line Items] | |||||||||||
Core deposit intangibles | $ 9,900,000 | ||||||||||
Guaranty Bank | |||||||||||
Business Acquisition [Line Items] | |||||||||||
Total assets acquired | 875,100,000 | ||||||||||
Total non-PCI loans and leases | 574,553,000 | 574,600,000 | |||||||||
PCI loans | 114,533,000 | ||||||||||
Total liabilities assumed | 982,700,000 | ||||||||||
Deposits | 982,300,000 | ||||||||||
Merger-related expenses | 2,300,000 | 7,400,000 | |||||||||
Gain on acquisitions | 122,700,000 | ||||||||||
Revenue of acquired business | 17,300,000 | 20,500,000 | |||||||||
Guaranty Bank | Core deposits | |||||||||||
Business Acquisition [Line Items] | |||||||||||
Core deposit intangibles | $ 9,900,000 | ||||||||||
Harvest Community Bank | |||||||||||
Business Acquisition [Line Items] | |||||||||||
Total assets acquired | $ 111,600,000 | ||||||||||
PCI loans | 85,149,000 | ||||||||||
Total liabilities assumed | 121,800,000 | ||||||||||
Merger-related expenses | 0 | 1,200,000 | |||||||||
Gain on acquisitions | 12,000,000 | ||||||||||
Revenue of acquired business | $ 3,700,000 | $ 3,800,000 | |||||||||
Intangible assets | $ 850,000 |
Business Combinations - Prelimi
Business Combinations - Preliminary Purchase Price Allocation (Details) - USD ($) $ in Thousands | Nov. 01, 2018 | Oct. 02, 2018 | May 01, 2018 | Dec. 18, 2017 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 |
Liabilities | |||||||
Goodwill recorded for Palmetto Heritage | $ 236,347 | $ 150,601 | $ 150,601 | ||||
Palmetto Heritage Bancshares | |||||||
Business Acquisition [Line Items] | |||||||
Purchase Price | $ 30,426 | ||||||
Assets | |||||||
Cash and due from banks | 6,418 | ||||||
Investment securities | 4,549 | ||||||
Loans | 135,146 | ||||||
Premises and equipment | 5,369 | ||||||
Other real estate owned | 2,319 | ||||||
Income earned not collected | 531 | ||||||
Intangible assets | 1,706 | ||||||
Other assets | 6,210 | ||||||
Fair value of assets acquired | 162,248 | ||||||
Liabilities | |||||||
Deposits | 124,892 | ||||||
Accrued interest payable | 177 | ||||||
Borrowings | 24,000 | ||||||
Other liabilities | 203 | ||||||
Fair value of liabilities assumed | 149,272 | ||||||
Fair value of net assets assumed | 12,976 | ||||||
Goodwill recorded for Palmetto Heritage | $ 17,450 | ||||||
Capital Commerce Bancorp | |||||||
Business Acquisition [Line Items] | |||||||
Purchase Price | $ 28,063 | ||||||
Assets | |||||||
Cash and due from banks | 3,244 | ||||||
Overnight investments | 1,065 | ||||||
Investment securities | 17,865 | ||||||
Loans | 184,126 | ||||||
Premises and equipment | 3,773 | ||||||
Income earned not collected | 621 | ||||||
Intangible assets | 2,680 | ||||||
Other assets | 8,513 | ||||||
Fair value of assets acquired | 221,887 | ||||||
Liabilities | |||||||
Deposits | 172,387 | ||||||
Accrued interest payable | 263 | ||||||
Borrowings | 30,624 | ||||||
Other liabilities | 1,230 | ||||||
Fair value of liabilities assumed | 204,504 | ||||||
Fair value of net assets assumed | 17,383 | ||||||
Goodwill recorded for Palmetto Heritage | $ 10,680 | ||||||
HomeBancorp Inc. | |||||||
Business Acquisition [Line Items] | |||||||
Purchase Price | $ 112,657 | $ 112,700 | |||||
Assets | |||||||
Cash and due from banks | 6,359 | ||||||
Overnight investments | 10,393 | ||||||
Investment securities | 200,918 | ||||||
Loans held for sale | 791 | ||||||
Loans | 566,173 | ||||||
Premises and equipment | 6,542 | ||||||
Other real estate owned | 2,135 | ||||||
Income earned not collected | 2,717 | ||||||
Intangible assets | 13,206 | ||||||
Other assets | 33,459 | ||||||
Fair value of assets acquired | 842,693 | ||||||
Liabilities | |||||||
Deposits | 619,589 | ||||||
Accrued interest payable | 1,020 | ||||||
Borrowings | 161,917 | ||||||
Other liabilities | 5,126 | ||||||
Fair value of liabilities assumed | 787,652 | ||||||
Fair value of net assets assumed | 55,041 | ||||||
Goodwill recorded for Palmetto Heritage | $ 57,616 |
Investments (Aggregate Values a
Investments (Aggregate Values and Unrealized Gains and Losses) (Details) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
Investment securities available for sale | ||
Cost | $ 4,607,117 | $ 7,229,014 |
Available-for-sale Securities, Accumulated Gross Unrealized Gain, before Tax | 6,425 | 32,094 |
Available For Sale Securities Gross Unrealized Loss Accumulated In Investments | 56,432 | 80,928 |
Fair Value | 4,557,110 | 7,180,180 |
Investment securities held to maturity | ||
Cost | 2,184,653 | 76 |
U. S. Treasury | ||
Investment securities available for sale | ||
Cost | 1,249,243 | 1,658,410 |
Available-for-sale Securities, Accumulated Gross Unrealized Gain, before Tax | 633 | 0 |
Available For Sale Securities Gross Unrealized Loss Accumulated In Investments | 2,166 | 546 |
Fair Value | 1,247,710 | 1,657,864 |
Government Agency | ||
Investment securities available for sale | ||
Cost | 257,252 | 8,695 |
Available-for-sale Securities, Accumulated Gross Unrealized Gain, before Tax | 222 | 15 |
Available For Sale Securities Gross Unrealized Loss Accumulated In Investments | 639 | 40 |
Fair Value | 256,835 | 8,670 |
Mortgage Backed Securities | ||
Investment securities available for sale | ||
Cost | 2,956,793 | 5,419,379 |
Available-for-sale Securities, Accumulated Gross Unrealized Gain, before Tax | 5,309 | 1,529 |
Available For Sale Securities Gross Unrealized Loss Accumulated In Investments | 52,763 | 80,152 |
Fair Value | 2,909,339 | 5,340,756 |
Investment securities held to maturity | ||
Cost | 2,184,653 | 76 |
Held To Maturity Securities Accumulated Unrecognized Holding Gain | 17,339 | 5 |
Held To Maturity Securities Accumulated Unrecognized Holding Loss | 490 | 0 |
Fair Value | 2,201,502 | 81 |
Equity Securities | ||
Investment securities available for sale | ||
Cost | 75,471 | |
Available-for-sale Securities, Accumulated Gross Unrealized Gain, before Tax | 29,737 | |
Available For Sale Securities Gross Unrealized Loss Accumulated In Investments | 0 | |
Fair Value | 105,208 | |
Corporate Bonds | ||
Investment securities available for sale | ||
Cost | 139,906 | 59,414 |
Available-for-sale Securities, Accumulated Gross Unrealized Gain, before Tax | 59 | 557 |
Available For Sale Securities Gross Unrealized Loss Accumulated In Investments | 864 | 8 |
Fair Value | 139,101 | 59,963 |
Other Debt Obligations | ||
Investment securities available for sale | ||
Cost | 3,923 | 7,645 |
Available-for-sale Securities, Accumulated Gross Unrealized Gain, before Tax | 202 | 256 |
Available For Sale Securities Gross Unrealized Loss Accumulated In Investments | 0 | 182 |
Fair Value | $ 4,125 | $ 7,719 |
Investments (Maturity Informati
Investments (Maturity Information) (Details) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
Investment securities available for sale | ||
Total investment securities available for sale, cost | $ 4,607,117 | $ 7,229,014 |
Investment securities available for sale | 4,557,110 | 7,180,180 |
Investment securities held to maturity | ||
Investment securities held to maturity | 2,184,653 | 76 |
Debt Securities | ||
Investment securities available for sale | ||
Maturing in one year or less, cost | 1,049,253 | 808,768 |
Maturing in one through five years, cost | 205,526 | 849,642 |
Maturing in five through ten years, cost | 134,370 | 59,414 |
Maturing in over ten years, cost | 3,923 | 7,645 |
Maturing in one year or less, fair value | 1,047,380 | 808,301 |
Maturing in one through five years, fair value | 205,805 | 849,563 |
Maturing in five through ten years, fair value | 133,626 | 59,963 |
Maturing in over ten years, fair value | 4,125 | 7,719 |
Equity Securities | ||
Investment securities available for sale | ||
Total investment securities available for sale, cost | 0 | 75,471 |
Investment securities available for sale | 0 | 105,208 |
Government Agency | ||
Investment securities available for sale | ||
Total investment securities available for sale, cost | 257,252 | 8,695 |
Investment securities available for sale | 256,835 | 8,670 |
Mortgage Backed Securities | ||
Investment securities available for sale | ||
Total investment securities available for sale, cost | 2,956,793 | 5,419,379 |
Investment securities available for sale | 2,909,339 | 5,340,756 |
Investment securities held to maturity | ||
Investment securities held to maturity | 2,184,653 | 76 |
Fair Value | $ 2,201,502 | $ 81 |
Investments (Securities Gains (
Investments (Securities Gains (Losses)) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Investments [Abstract] | |||
Gross gains on sales of investment securities available for sale | $ 353 | $ 11,635 | $ 27,104 |
Gross losses on sales of investment securities available for sale | (2) | (7,342) | (431) |
Total securities gains (losses) | $ 351 | $ 4,293 | $ 26,673 |
Investments (Realized and Unrea
Investments (Realized and Unrealized Gains/Losses on Marketable Equity Securities) (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Investments [Abstract] | ||||
Marketable equity securities (losses) gains, net | $ (16,875) | $ (7,610) | $ 0 | $ 0 |
Less net gains recognized on marketable equity securities sold | 9 | 1,190 | ||
Unrealized (losses) gains recognized on marketable equity securities held | $ (16,884) | $ (8,800) |
Investments (Unrealized Losses)
Investments (Unrealized Losses) (Details) $ in Thousands | Dec. 31, 2018USD ($)investmentsinvestment | Dec. 31, 2017USD ($) |
Investment securities available for sale: | ||
Less than 12 months, fair value | $ 705,526 | $ 3,752,642 |
Available for Sale Securities Continuous Unrealized Loss Position Less Than 12 Months Aggregate Losses Accumulated In Investments | 3,943 | 21,458 |
Aggregate fair value, continuous unrealized loss position, 12 months or more | 2,796,627 | 2,975,631 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 52,489 | 59,470 |
Total fair value | 3,502,153 | 6,728,273 |
Available For Sale Securities Gross Unrealized Loss Accumulated In Investments | $ 56,432 | 80,928 |
Investment securities held to maturity: | ||
Number of investments in continuous unrealized loss position for more than twelve months | investment | 221 | |
U. S. Treasury | ||
Investment securities available for sale: | ||
Less than 12 months, fair value | $ 248,983 | 1,408,166 |
Available for Sale Securities Continuous Unrealized Loss Position Less Than 12 Months Aggregate Losses Accumulated In Investments | 113 | 345 |
Aggregate fair value, continuous unrealized loss position, 12 months or more | 848,622 | 249,698 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 2,053 | 201 |
Total fair value | 1,097,605 | 1,657,864 |
Available For Sale Securities Gross Unrealized Loss Accumulated In Investments | $ 2,166 | 546 |
Investment securities held to maturity: | ||
Number of investments in continuous unrealized loss position for more than twelve months | investments | 7 | |
Government Agency | ||
Investment securities available for sale: | ||
Less than 12 months, fair value | $ 115,273 | 848 |
Available for Sale Securities Continuous Unrealized Loss Position Less Than 12 Months Aggregate Losses Accumulated In Investments | 601 | 12 |
Aggregate fair value, continuous unrealized loss position, 12 months or more | 2,310 | 2,527 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 38 | 28 |
Total fair value | 117,583 | 3,375 |
Available For Sale Securities Gross Unrealized Loss Accumulated In Investments | 639 | 40 |
Mortgage Backed Securities | ||
Investment securities available for sale: | ||
Less than 12 months, fair value | 262,204 | 2,333,254 |
Available for Sale Securities Continuous Unrealized Loss Position Less Than 12 Months Aggregate Losses Accumulated In Investments | 2,387 | 20,911 |
Aggregate fair value, continuous unrealized loss position, 12 months or more | 1,940,695 | 2,723,406 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 50,376 | 59,241 |
Total fair value | 2,202,899 | 5,056,660 |
Available For Sale Securities Gross Unrealized Loss Accumulated In Investments | 52,763 | 80,152 |
Investment securities held to maturity: | ||
Less than 12 months, fair value | 5,111 | |
Held-to-maturity Securities Continuous Unrealized Loss Position Less Than 12 Months Accumulated Loss | 181 | |
12 months or more, fair value | 10,131 | |
Held-to-maturity Securities Continuous Unrealized Loss Position 12 Months Or Longer Accumulated Loss | 309 | |
Total fair value | $ 15,242 | |
Number of investments in continuous unrealized loss position for more than twelve months | investments | 213 | |
Corporate Bonds | ||
Investment securities available for sale: | ||
Less than 12 months, fair value | $ 79,066 | 5,025 |
Available for Sale Securities Continuous Unrealized Loss Position Less Than 12 Months Aggregate Losses Accumulated In Investments | 842 | 8 |
Aggregate fair value, continuous unrealized loss position, 12 months or more | 5,000 | 0 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 22 | 0 |
Total fair value | 84,066 | 5,025 |
Available For Sale Securities Gross Unrealized Loss Accumulated In Investments | $ 864 | 8 |
Other Debt Obligations | ||
Investment securities available for sale: | ||
Less than 12 months, fair value | 5,349 | |
Available for Sale Securities Continuous Unrealized Loss Position Less Than 12 Months Aggregate Losses Accumulated In Investments | 182 | |
Aggregate fair value, continuous unrealized loss position, 12 months or more | 0 | |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 0 | |
Total fair value | 5,349 | |
Available For Sale Securities Gross Unrealized Loss Accumulated In Investments | $ 182 |
Investments (Narrative) (Detail
Investments (Narrative) (Details) shares in Thousands | May 01, 2018USD ($) | Dec. 31, 2018USD ($)investmentinvestmentsshares | Dec. 31, 2017USD ($) | Dec. 31, 2016USD ($) | Jan. 01, 2018USD ($) | |
Schedule of Investments [Line Items] | ||||||
Investment in marketable equity securities | $ 92,599,000 | $ 0 | ||||
Cumulative effect of new accounting principle in period of adoption | $ (50,051,000) | |||||
Investment securities available for sale transferred to held to maturity fair value, net of tax | $ 109,500,000 | (109,507,000) | 0 | $ 0 | ||
Other Comprehensive Income Loss Unrealized Losses On Securities Available For Sale Transferred To Held To Maturity Arising During Period Net Of Tax | 84,000,000 | (71,149,000) | 0 | 0 | ||
Other Comprehensive Income Loss Reclassification Adjustment For Accretion On Unrealized Losses On Securities Available For Sale Transferred To Held To Maturity Arising During Period Before Tax | (17,106,000) | 0 | $ 0 | |||
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax | [1] | $ (23,667,000) | (3,419,000) | |||
Number of investments in continuous unrealized loss position for more than twelve months | investment | 221 | |||||
Held-to-maturity, securities in unrealized loss positions, qualitative disclosure, number of positions | investment | 2 | |||||
Unrealized losses related to marketability of securities or issuers ability to honor redemption obligations | $ 0 | |||||
Investment value deemed to be OTTI | 0 | |||||
Investment securities, aggregate carrying value, pledged as collateral | $ 4,030,826,000 | 4,593,198,000 | ||||
Visa Class B Common Stock | ||||||
Schedule of Investments [Line Items] | ||||||
Investment owned (in shares) | shares | 298 | |||||
Investment owned, fair value | $ 0 | |||||
Equity Securities | ||||||
Schedule of Investments [Line Items] | ||||||
Fair value of marketable equity securities | $ 105,208,000 | |||||
Mortgage Backed Securities | ||||||
Schedule of Investments [Line Items] | ||||||
Investment securities available for sale transferred to held to maturity amortized cost | 2,490,000,000 | |||||
Investment securities available for sale transferred to held to maturity fair value | $ 2,380,000,000 | |||||
Number of investments in continuous unrealized loss position for more than twelve months | investments | 213 | |||||
U. S. Treasury | ||||||
Schedule of Investments [Line Items] | ||||||
Number of investments in continuous unrealized loss position for more than twelve months | investments | 7 | |||||
Corporate Bonds | ||||||
Schedule of Investments [Line Items] | ||||||
Available-for-sale, securities in unrealized loss positions, number of positions, greater than or equal to on year | investments | 1 | |||||
Financial Instruments ASU cumulative effect adjustment | ||||||
Schedule of Investments [Line Items] | ||||||
Cumulative effect of new accounting principle in period of adoption | $ 18,700,000 | |||||
[1] | Amounts in parentheses indicate debits to profit/loss. |
Loans and Leases (Narrative) (D
Loans and Leases (Narrative) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Modifications, Recorded Investment | $ 156,130 | $ 164,561 | |
Federal Reserve Bank, Advances, General Debt Obligations, Disclosures, Collateral Pledged | 2,190,000 | ||
Loans held for sale | 45,505 | 51,179 | |
Proceeds from sale of all loans | 618,140 | 823,457 | |
Proceeds from sale of portfolio loans | 9,591 | 162,649 | $ 77,665 |
Proceeds from sale of loans held for sale | 608,549 | 660,808 | 797,123 |
Loans and Leases Receivable, Collateral for Secured Borrowings | 6,360,000 | 6,080,000 | |
Advances from Federal Home Loan Banks | 175,200 | 835,200 | |
Federal Home Loan Bank Advances, Current Borrowing Capacity | 6,180,000 | 5,240,000 | |
Noncovered loans pledged to secure debt obligations | 9,120,000 | 8,750,000 | |
Loans and Leases Receivable, Gross, Carrying Amount, Covered | 55,600 | ||
Gain (Loss) on Sale of Loans and Leases | 0 | 1,007 | $ 3,758 |
Net deferred fees on non-PCI loans | 100 | 1,700 | |
Non-PCI Loans | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Accretion Income | 12,800 | 13,600 | |
PCI Loans | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Financing Receivable, Modifications, Recorded Investment | 18,220 | 18,435 | |
Nonaccruing | 1,300 | 624 | |
Loans on the Cost Recovery Method | PCI Loans | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Carrying value of acquired impaired loans | 3,300 | 1,100 | |
Capital Commerce Bancorp | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Purchase Discount Remaining | 3,100 | ||
HomeBancorp Inc. | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Purchase Discount Remaining | 6,300 | ||
Guaranty Bank | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Purchase Discount Remaining | 10,800 | 14,200 | |
Cordia Bancorp Inc. | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Purchase Discount Remaining | 1,400 | 2,700 | |
Bancorporation | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Purchase Discount Remaining | 12,000 | 18,100 | |
Medical and Dental | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans in the medical, dental or related field | $ 4,980,000 | $ 4,860,000 | |
Medical, dental or related fields percentage of total loans and leases | 19.50% | 20.60% | |
Federal Reserve Bank | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans and Leases Receivable, Collateral for Secured Borrowings | $ 2,080,000 | ||
Loans Pledged as Collateral | $ 2,940,000 | $ 2,770,000 |
Loans and Leases (Loans and Lea
Loans and Leases (Loans and Leases Outstanding) (Details) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 |
Loans and Leases Receivable, Gross, Carrying Amount, Covered | $ 55,600 | |||
PCI Loans | 606,576 | $ 762,998 | $ 809,169 | $ 950,516 |
Non-PCI | 24,916,700 | 22,833,827 | ||
Total loans and leases | 25,523,276 | 23,596,825 | ||
Commercial | ||||
PCI Loans | 296,672 | 393,419 | ||
Non-PCI | 16,137,227 | 14,799,054 | ||
Commercial | Construction and land development | ||||
Non-PCI | 757,854 | 669,215 | ||
Commercial | Mortgage | ||||
Non-PCI | 10,717,234 | 9,729,022 | ||
Commercial | Commercial and industrial | ||||
Non-PCI | 3,938,730 | 3,625,208 | ||
Commercial | Other commercial real estate | ||||
Non-PCI | 426,985 | 473,433 | ||
Commercial | Other | ||||
Non-PCI | 296,424 | 302,176 | ||
Noncommercial | ||||
Non-PCI | 8,779,473 | 8,034,773 | ||
Noncommercial | Construction and land development | ||||
Non-PCI | 257,030 | 248,289 | ||
Noncommercial | Mortgage | ||||
Non-PCI | 4,265,687 | 3,523,786 | ||
Noncommercial | Revolving mortgage | ||||
Non-PCI | 2,542,975 | 2,701,525 | ||
Noncommercial | Consumer | ||||
Non-PCI | $ 1,713,781 | $ 1,561,173 |
Loans and Leases (Loans Acquire
Loans and Leases (Loans Acquired By Loan Class) (Details) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
PCI Loans | $ 606,576 | $ 762,998 | $ 809,169 | $ 950,516 |
Commercial | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
PCI Loans | $ 296,672 | $ 393,419 |
Loans and Leases (Composition o
Loans and Leases (Composition of the Loans and Leases Outstanding By Credit Quality Indicator) (Details) - USD ($) | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Non-PCI Loans | $ 24,916,700,000 | $ 22,833,827,000 | ||
PCI commercial loans | 606,576,000 | 762,998,000 | $ 809,169,000 | $ 950,516,000 |
Commercial | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Non-PCI Loans | 16,137,227,000 | 14,799,054,000 | ||
PCI commercial loans | 296,672,000 | 393,419,000 | ||
Commercial | Construction and land development | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Non-PCI Loans | 757,854,000 | 669,215,000 | ||
Commercial | Mortgage | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Non-PCI Loans | 10,717,234,000 | 9,729,022,000 | ||
Commercial | Other commercial real estate | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Non-PCI Loans | 426,985,000 | 473,433,000 | ||
Commercial | Commercial and industrial | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Non-PCI Loans | 3,938,730,000 | 3,625,208,000 | ||
Commercial | Other | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Non-PCI Loans | 296,424,000 | 302,176,000 | ||
Commercial | Pass | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Non-PCI Loans | 15,757,669,000 | 14,348,308,000 | ||
PCI commercial loans | 141,922,000 | 201,332,000 | ||
Commercial | Pass | Construction and land development | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Non-PCI Loans | 753,985,000 | 665,197,000 | ||
Commercial | Pass | Mortgage | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Non-PCI Loans | 10,507,687,000 | 9,521,019,000 | ||
Commercial | Pass | Other commercial real estate | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Non-PCI Loans | 422,500,000 | 468,942,000 | ||
Commercial | Pass | Commercial and industrial | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Non-PCI Loans | 3,778,797,000 | 3,395,086,000 | ||
Commercial | Pass | Other | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Non-PCI Loans | 294,700,000 | 298,064,000 | ||
Commercial | Special Mention | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Non-PCI Loans | 174,700,000 | 131,983,000 | ||
PCI commercial loans | 48,475,000 | 63,257,000 | ||
Commercial | Special Mention | Construction and land development | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Non-PCI Loans | 1,369,000 | 691,000 | ||
Commercial | Special Mention | Mortgage | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Non-PCI Loans | 114,219,000 | 78,643,000 | ||
Commercial | Special Mention | Other commercial real estate | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Non-PCI Loans | 3,193,000 | 1,260,000 | ||
Commercial | Special Mention | Commercial and industrial | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Non-PCI Loans | 54,814,000 | 48,470,000 | ||
Commercial | Special Mention | Other | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Non-PCI Loans | 1,105,000 | 2,919,000 | ||
Commercial | Substandard | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Non-PCI Loans | 127,842,000 | 161,794,000 | ||
PCI commercial loans | 101,447,000 | 117,068,000 | ||
Commercial | Substandard | Construction and land development | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Non-PCI Loans | 2,500,000 | 3,327,000 | ||
Commercial | Substandard | Mortgage | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Non-PCI Loans | 92,743,000 | 128,848,000 | ||
Commercial | Substandard | Other commercial real estate | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Non-PCI Loans | 1,292,000 | 3,224,000 | ||
Commercial | Substandard | Commercial and industrial | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Non-PCI Loans | 30,688,000 | 25,202,000 | ||
Commercial | Substandard | Other | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Non-PCI Loans | 619,000 | 1,193,000 | ||
Commercial | Doubtful | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Non-PCI Loans | 354,000 | 647,000 | ||
PCI commercial loans | 4,828,000 | 11,735,000 | ||
Commercial | Doubtful | Construction and land development | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Non-PCI Loans | 0 | 0 | ||
Commercial | Doubtful | Mortgage | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Non-PCI Loans | 0 | 262,000 | ||
Commercial | Doubtful | Other commercial real estate | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Non-PCI Loans | 0 | 0 | ||
Commercial | Doubtful | Commercial and industrial | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Non-PCI Loans | 354,000 | 385,000 | ||
Commercial | Doubtful | Other | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Non-PCI Loans | 0 | 0 | ||
Commercial | Ungraded | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Non-PCI Loans | 76,662,000 | 156,322,000 | ||
PCI commercial loans | 0 | 27,000 | ||
Commercial | Ungraded | Construction and land development | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Non-PCI Loans | 0 | 0 | ||
Commercial | Ungraded | Mortgage | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Non-PCI Loans | 2,585,000 | 250,000 | ||
Commercial | Ungraded | Other commercial real estate | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Non-PCI Loans | 0 | 7,000 | ||
Commercial | Ungraded | Commercial and industrial | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Non-PCI Loans | 74,077,000 | 156,065,000 | ||
Commercial | Ungraded | Other | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Non-PCI Loans | 0 | 0 | ||
Noncommercial | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Non-PCI Loans | 8,779,473,000 | 8,034,773,000 | ||
Noncommercial | Construction and land development | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Non-PCI Loans | 257,030,000 | 248,289,000 | ||
Noncommercial | Mortgage | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Non-PCI Loans | 4,265,687,000 | 3,523,786,000 | ||
Noncommercial | Revolving mortgage | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Non-PCI Loans | 2,542,975,000 | 2,701,525,000 | ||
Noncommercial | Consumer | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Non-PCI Loans | 1,713,781,000 | 1,561,173,000 | ||
Non-PCI Loans | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Non-PCI Loans | 24,916,700,000 | 22,833,827,000 | ||
Current | 24,781,818,000 | 22,688,955,000 | ||
Past Due | 134,882,000 | 144,872,000 | ||
Nonaccruing | 84,546,000 | 92,534,000 | ||
Non-PCI Loans | Commercial | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Non-PCI Loans | 16,137,227,000 | 14,799,054,000 | ||
Current | 16,101,608,000 | 14,762,509,000 | ||
Non-PCI Loans | Commercial | Construction and land development | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Non-PCI Loans | 757,854,000 | 669,215,000 | ||
Current | 756,885,000 | 667,925,000 | ||
Past Due | 969,000 | 1,290,000 | ||
Nonaccruing | 666,000 | 1,040,000 | ||
Non-PCI Loans | Commercial | Mortgage | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Non-PCI Loans | 10,717,234,000 | 9,729,022,000 | ||
Current | 10,697,731,000 | 9,707,869,000 | ||
Past Due | 19,503,000 | 21,153,000 | ||
Nonaccruing | 12,594,000 | 22,625,000 | ||
Non-PCI Loans | Commercial | Other commercial real estate | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Non-PCI Loans | 426,985,000 | 473,433,000 | ||
Current | 426,518,000 | 473,251,000 | ||
Past Due | 467,000 | 182,000 | ||
Nonaccruing | 366,000 | 916,000 | ||
Non-PCI Loans | Commercial | Commercial and industrial | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Non-PCI Loans | 3,938,730,000 | 3,625,208,000 | ||
Current | 3,924,424,000 | 3,611,615,000 | ||
Past Due | 14,306,000 | 13,593,000 | ||
Nonaccruing | 4,624,000 | 4,876,000 | ||
Non-PCI Loans | Commercial | Other | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Non-PCI Loans | 296,424,000 | 302,176,000 | ||
Current | 296,050,000 | 301,849,000 | ||
Past Due | 374,000 | 327,000 | ||
Non-PCI Loans | Noncommercial | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Non-PCI Loans | 8,779,473,000 | 8,034,773,000 | ||
Current | 8,680,210,000 | 7,926,446,000 | ||
Past Due | 99,263,000 | 108,327,000 | ||
Non-PCI Loans | Noncommercial | Construction and land development | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Non-PCI Loans | 257,030,000 | 248,289,000 | ||
Current | 254,837,000 | 239,648,000 | ||
Past Due | 2,193,000 | 8,641,000 | ||
Nonaccruing | 1,823,000 | 1,989,000 | ||
Non-PCI Loans | Noncommercial | Mortgage | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Non-PCI Loans | 4,265,687,000 | 3,523,786,000 | ||
Current | 4,214,783,000 | 3,465,935,000 | ||
Past Due | 50,904,000 | 57,851,000 | ||
Nonaccruing | 35,662,000 | 38,942,000 | ||
Non-PCI Loans | Noncommercial | Other | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Nonaccruing | 279,000 | 164,000 | ||
Non-PCI Loans | Noncommercial | Revolving mortgage | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Non-PCI Loans | 2,542,975,000 | 2,701,525,000 | ||
Current | 2,514,269,000 | 2,674,390,000 | ||
Past Due | 28,706,000 | 27,135,000 | ||
Nonaccruing | 25,563,000 | 19,990,000 | ||
Non-PCI Loans | Noncommercial | Consumer | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Non-PCI Loans | 1,713,781,000 | 1,561,173,000 | ||
Current | 1,696,321,000 | 1,546,473,000 | ||
Past Due | 17,460,000 | 14,700,000 | ||
Nonaccruing | 2,969,000 | 1,992,000 | ||
PCI Loans | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Nonaccruing | 1,300,000 | 624,000 | ||
PCI Loans | Noncommercial | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Non-PCI Loans | 309,904,000 | 369,579,000 | ||
Current | 268,280,000 | 318,632,000 | ||
Financing Receivables, 30 to 59 Days Past Due [Member] | Non-PCI Loans | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Past Due | 76,187,000 | 80,031,000 | ||
Financing Receivables, 30 to 59 Days Past Due [Member] | Non-PCI Loans | Commercial | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Past Due | 24,747,000 | 22,751,000 | ||
Financing Receivables, 30 to 59 Days Past Due [Member] | Non-PCI Loans | Commercial | Construction and land development | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Past Due | 516,000 | 491,000 | ||
Financing Receivables, 30 to 59 Days Past Due [Member] | Non-PCI Loans | Commercial | Mortgage | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Past Due | 14,200,000 | 12,288,000 | ||
Financing Receivables, 30 to 59 Days Past Due [Member] | Non-PCI Loans | Commercial | Other commercial real estate | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Past Due | 91,000 | 107,000 | ||
Financing Receivables, 30 to 59 Days Past Due [Member] | Non-PCI Loans | Commercial | Commercial and industrial | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Past Due | 9,655,000 | 9,677,000 | ||
Financing Receivables, 30 to 59 Days Past Due [Member] | Non-PCI Loans | Commercial | Other | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Past Due | 285,000 | 188,000 | ||
Financing Receivables, 30 to 59 Days Past Due [Member] | Non-PCI Loans | Noncommercial | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Past Due | 51,440,000 | 57,280,000 | ||
Financing Receivables, 30 to 59 Days Past Due [Member] | Non-PCI Loans | Noncommercial | Construction and land development | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Past Due | 581,000 | 7,154,000 | ||
Financing Receivables, 30 to 59 Days Past Due [Member] | Non-PCI Loans | Noncommercial | Mortgage | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Past Due | 28,239,000 | 27,886,000 | ||
Financing Receivables, 30 to 59 Days Past Due [Member] | Non-PCI Loans | Noncommercial | Revolving mortgage | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Past Due | 12,585,000 | 13,428,000 | ||
Financing Receivables, 30 to 59 Days Past Due [Member] | Non-PCI Loans | Noncommercial | Consumer | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Past Due | 10,035,000 | 8,812,000 | ||
Financing Receivables, 30 to 59 Days Past Due [Member] | PCI Loans | Noncommercial | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Past Due | 11,155,000 | 13,343,000 | ||
Financing Receivables, 60 to 89 Days Past Due [Member] | Non-PCI Loans | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Past Due | 19,682,000 | 19,050,000 | ||
Financing Receivables, 60 to 89 Days Past Due [Member] | Non-PCI Loans | Commercial | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Past Due | 3,910,000 | 4,500,000 | ||
Financing Receivables, 60 to 89 Days Past Due [Member] | Non-PCI Loans | Commercial | Construction and land development | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Past Due | 9,000 | 442,000 | ||
Financing Receivables, 60 to 89 Days Past Due [Member] | Non-PCI Loans | Commercial | Mortgage | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Past Due | 2,066,000 | 2,375,000 | ||
Financing Receivables, 60 to 89 Days Past Due [Member] | Non-PCI Loans | Commercial | Other commercial real estate | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Past Due | 76,000 | 0 | ||
Financing Receivables, 60 to 89 Days Past Due [Member] | Non-PCI Loans | Commercial | Commercial and industrial | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Past Due | 1,759,000 | 1,677,000 | ||
Financing Receivables, 60 to 89 Days Past Due [Member] | Non-PCI Loans | Commercial | Other | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Past Due | 0 | 6,000 | ||
Financing Receivables, 60 to 89 Days Past Due [Member] | Non-PCI Loans | Noncommercial | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Past Due | 15,772,000 | 14,550,000 | ||
Financing Receivables, 60 to 89 Days Past Due [Member] | Non-PCI Loans | Noncommercial | Construction and land development | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Past Due | 21,000 | 108,000 | ||
Financing Receivables, 60 to 89 Days Past Due [Member] | Non-PCI Loans | Noncommercial | Mortgage | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Past Due | 7,357,000 | 8,064,000 | ||
Financing Receivables, 60 to 89 Days Past Due [Member] | Non-PCI Loans | Noncommercial | Revolving mortgage | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Past Due | 4,490,000 | 3,485,000 | ||
Financing Receivables, 60 to 89 Days Past Due [Member] | Non-PCI Loans | Noncommercial | Consumer | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Past Due | 3,904,000 | 2,893,000 | ||
Financing Receivables, 60 to 89 Days Past Due [Member] | PCI Loans | Noncommercial | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Past Due | 7,708,000 | 6,212,000 | ||
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Non-PCI Loans | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Past Due | 39,013,000 | 45,791,000 | ||
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Non-PCI Loans | Commercial | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Past Due | 6,962,000 | 9,294,000 | ||
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Non-PCI Loans | Commercial | Construction and land development | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Past Due | 444,000 | 357,000 | ||
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Non-PCI Loans | Commercial | Mortgage | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Past Due | 3,237,000 | 6,490,000 | ||
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Non-PCI Loans | Commercial | Other commercial real estate | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Past Due | 300,000 | 75,000 | ||
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Non-PCI Loans | Commercial | Commercial and industrial | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Past Due | 2,892,000 | 2,239,000 | ||
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Non-PCI Loans | Commercial | Other | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Past Due | 89,000 | 133,000 | ||
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Non-PCI Loans | Noncommercial | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Past Due | 32,051,000 | 36,497,000 | ||
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Non-PCI Loans | Noncommercial | Construction and land development | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Past Due | 1,591,000 | 1,379,000 | ||
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Non-PCI Loans | Noncommercial | Mortgage | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Past Due | 15,308,000 | 21,901,000 | ||
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Non-PCI Loans | Noncommercial | Revolving mortgage | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Past Due | 11,631,000 | 10,222,000 | ||
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Non-PCI Loans | Noncommercial | Consumer | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Past Due | 3,521,000 | 2,995,000 | ||
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | PCI Loans | Noncommercial | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Past Due | $ 22,761,000 | $ 31,392,000 |
Loans and Leases (Aging Of The
Loans and Leases (Aging Of The Outstanding Loans and Leases By Class Excluding Loans Impaired At Acquisition Date) (Details) - USD ($) | Dec. 31, 2018 | Dec. 31, 2017 |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Non-PCI Loans | $ 24,916,700,000 | $ 22,833,827,000 |
Commercial | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Non-PCI Loans | 16,137,227,000 | 14,799,054,000 |
Commercial | Construction and land development | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Non-PCI Loans | 757,854,000 | 669,215,000 |
Commercial | Mortgage | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Non-PCI Loans | 10,717,234,000 | 9,729,022,000 |
Commercial | Other commercial real estate | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Non-PCI Loans | 426,985,000 | 473,433,000 |
Commercial | Commercial and industrial | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Non-PCI Loans | 3,938,730,000 | 3,625,208,000 |
Commercial | Other | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Non-PCI Loans | 296,424,000 | 302,176,000 |
Noncommercial | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Non-PCI Loans | 8,779,473,000 | 8,034,773,000 |
Noncommercial | Construction and land development | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Non-PCI Loans | 257,030,000 | 248,289,000 |
Noncommercial | Mortgage | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Non-PCI Loans | 4,265,687,000 | 3,523,786,000 |
Noncommercial | Revolving mortgage | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Non-PCI Loans | 2,542,975,000 | 2,701,525,000 |
Noncommercial | Consumer | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Non-PCI Loans | 1,713,781,000 | 1,561,173,000 |
Non-PCI Loans | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current | 24,781,818,000 | 22,688,955,000 |
Total | 134,882,000 | 144,872,000 |
Nonaccruing | 84,546,000 | 92,534,000 |
Non-PCI Loans | 24,916,700,000 | 22,833,827,000 |
Non-PCI Loans | Commercial | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current | 16,101,608,000 | 14,762,509,000 |
Non-PCI Loans | 16,137,227,000 | 14,799,054,000 |
Non-PCI Loans | Commercial | Construction and land development | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current | 756,885,000 | 667,925,000 |
Total | 969,000 | 1,290,000 |
Nonaccruing | 666,000 | 1,040,000 |
Non-PCI Loans | 757,854,000 | 669,215,000 |
Non-PCI Loans | Commercial | Mortgage | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current | 10,697,731,000 | 9,707,869,000 |
Total | 19,503,000 | 21,153,000 |
Nonaccruing | 12,594,000 | 22,625,000 |
Non-PCI Loans | 10,717,234,000 | 9,729,022,000 |
Non-PCI Loans | Commercial | Other commercial real estate | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current | 426,518,000 | 473,251,000 |
Total | 467,000 | 182,000 |
Nonaccruing | 366,000 | 916,000 |
Non-PCI Loans | 426,985,000 | 473,433,000 |
Non-PCI Loans | Commercial | Commercial and industrial | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current | 3,924,424,000 | 3,611,615,000 |
Total | 14,306,000 | 13,593,000 |
Nonaccruing | 4,624,000 | 4,876,000 |
Non-PCI Loans | 3,938,730,000 | 3,625,208,000 |
Non-PCI Loans | Commercial | Other | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current | 296,050,000 | 301,849,000 |
Total | 374,000 | 327,000 |
Non-PCI Loans | 296,424,000 | 302,176,000 |
Non-PCI Loans | Noncommercial | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current | 8,680,210,000 | 7,926,446,000 |
Total | 99,263,000 | 108,327,000 |
Non-PCI Loans | 8,779,473,000 | 8,034,773,000 |
Non-PCI Loans | Noncommercial | Construction and land development | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current | 254,837,000 | 239,648,000 |
Total | 2,193,000 | 8,641,000 |
Nonaccruing | 1,823,000 | 1,989,000 |
Non-PCI Loans | 257,030,000 | 248,289,000 |
Non-PCI Loans | Noncommercial | Mortgage | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current | 4,214,783,000 | 3,465,935,000 |
Total | 50,904,000 | 57,851,000 |
Nonaccruing | 35,662,000 | 38,942,000 |
Non-PCI Loans | 4,265,687,000 | 3,523,786,000 |
Non-PCI Loans | Noncommercial | Other | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccruing | 279,000 | 164,000 |
Non-PCI Loans | Noncommercial | Revolving mortgage | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current | 2,514,269,000 | 2,674,390,000 |
Total | 28,706,000 | 27,135,000 |
Nonaccruing | 25,563,000 | 19,990,000 |
Non-PCI Loans | 2,542,975,000 | 2,701,525,000 |
Non-PCI Loans | Noncommercial | Consumer | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current | 1,696,321,000 | 1,546,473,000 |
Total | 17,460,000 | 14,700,000 |
Nonaccruing | 2,969,000 | 1,992,000 |
Non-PCI Loans | 1,713,781,000 | 1,561,173,000 |
PCI Loans | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccruing | 1,300,000 | 624,000 |
PCI Loans | Noncommercial | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current | 268,280,000 | 318,632,000 |
Non-PCI Loans | 309,904,000 | 369,579,000 |
Financing Receivables, 30 to 59 Days Past Due [Member] | Non-PCI Loans | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total | 76,187,000 | 80,031,000 |
Financing Receivables, 30 to 59 Days Past Due [Member] | Non-PCI Loans | Commercial | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total | 24,747,000 | 22,751,000 |
Financing Receivables, 30 to 59 Days Past Due [Member] | Non-PCI Loans | Commercial | Construction and land development | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total | 516,000 | 491,000 |
Financing Receivables, 30 to 59 Days Past Due [Member] | Non-PCI Loans | Commercial | Mortgage | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total | 14,200,000 | 12,288,000 |
Financing Receivables, 30 to 59 Days Past Due [Member] | Non-PCI Loans | Commercial | Other commercial real estate | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total | 91,000 | 107,000 |
Financing Receivables, 30 to 59 Days Past Due [Member] | Non-PCI Loans | Commercial | Commercial and industrial | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total | 9,655,000 | 9,677,000 |
Financing Receivables, 30 to 59 Days Past Due [Member] | Non-PCI Loans | Commercial | Other | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total | 285,000 | 188,000 |
Financing Receivables, 30 to 59 Days Past Due [Member] | Non-PCI Loans | Noncommercial | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total | 51,440,000 | 57,280,000 |
Financing Receivables, 30 to 59 Days Past Due [Member] | Non-PCI Loans | Noncommercial | Construction and land development | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total | 581,000 | 7,154,000 |
Financing Receivables, 30 to 59 Days Past Due [Member] | Non-PCI Loans | Noncommercial | Mortgage | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total | 28,239,000 | 27,886,000 |
Financing Receivables, 30 to 59 Days Past Due [Member] | Non-PCI Loans | Noncommercial | Revolving mortgage | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total | 12,585,000 | 13,428,000 |
Financing Receivables, 30 to 59 Days Past Due [Member] | Non-PCI Loans | Noncommercial | Consumer | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total | 10,035,000 | 8,812,000 |
Financing Receivables, 30 to 59 Days Past Due [Member] | PCI Loans | Noncommercial | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total | 11,155,000 | 13,343,000 |
Financing Receivables, 60 to 89 Days Past Due [Member] | Non-PCI Loans | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total | 19,682,000 | 19,050,000 |
Financing Receivables, 60 to 89 Days Past Due [Member] | Non-PCI Loans | Commercial | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total | 3,910,000 | 4,500,000 |
Financing Receivables, 60 to 89 Days Past Due [Member] | Non-PCI Loans | Commercial | Construction and land development | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total | 9,000 | 442,000 |
Financing Receivables, 60 to 89 Days Past Due [Member] | Non-PCI Loans | Commercial | Mortgage | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total | 2,066,000 | 2,375,000 |
Financing Receivables, 60 to 89 Days Past Due [Member] | Non-PCI Loans | Commercial | Other commercial real estate | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total | 76,000 | 0 |
Financing Receivables, 60 to 89 Days Past Due [Member] | Non-PCI Loans | Commercial | Commercial and industrial | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total | 1,759,000 | 1,677,000 |
Financing Receivables, 60 to 89 Days Past Due [Member] | Non-PCI Loans | Commercial | Other | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total | 0 | 6,000 |
Financing Receivables, 60 to 89 Days Past Due [Member] | Non-PCI Loans | Noncommercial | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total | 15,772,000 | 14,550,000 |
Financing Receivables, 60 to 89 Days Past Due [Member] | Non-PCI Loans | Noncommercial | Construction and land development | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total | 21,000 | 108,000 |
Financing Receivables, 60 to 89 Days Past Due [Member] | Non-PCI Loans | Noncommercial | Mortgage | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total | 7,357,000 | 8,064,000 |
Financing Receivables, 60 to 89 Days Past Due [Member] | Non-PCI Loans | Noncommercial | Revolving mortgage | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total | 4,490,000 | 3,485,000 |
Financing Receivables, 60 to 89 Days Past Due [Member] | Non-PCI Loans | Noncommercial | Consumer | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total | 3,904,000 | 2,893,000 |
Financing Receivables, 60 to 89 Days Past Due [Member] | PCI Loans | Noncommercial | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total | 7,708,000 | 6,212,000 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Non-PCI Loans | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total | 39,013,000 | 45,791,000 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Non-PCI Loans | Commercial | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total | 6,962,000 | 9,294,000 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Non-PCI Loans | Commercial | Construction and land development | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total | 444,000 | 357,000 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Non-PCI Loans | Commercial | Mortgage | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total | 3,237,000 | 6,490,000 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Non-PCI Loans | Commercial | Other commercial real estate | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total | 300,000 | 75,000 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Non-PCI Loans | Commercial | Commercial and industrial | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total | 2,892,000 | 2,239,000 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Non-PCI Loans | Commercial | Other | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total | 89,000 | 133,000 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Non-PCI Loans | Noncommercial | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total | 32,051,000 | 36,497,000 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Non-PCI Loans | Noncommercial | Construction and land development | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total | 1,591,000 | 1,379,000 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Non-PCI Loans | Noncommercial | Mortgage | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total | 15,308,000 | 21,901,000 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Non-PCI Loans | Noncommercial | Revolving mortgage | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total | 11,631,000 | 10,222,000 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Non-PCI Loans | Noncommercial | Consumer | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total | 3,521,000 | 2,995,000 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | PCI Loans | Noncommercial | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total | $ 22,761,000 | $ 31,392,000 |
Loans and Leases (Recorded Inve
Loans and Leases (Recorded Investment, By Class, In Loans And Leases On Nonaccrual Status And Loans And Leases Greater Than 90 Days Past Due And Still Accruing) (Details) - Non-PCI Loans - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Nonaccruing | $ 84,546 | $ 92,534 |
Loans and leases greater than 90 days and accruing | 2,888 | 2,978 |
Commercial | Construction and land development | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Nonaccruing | 666 | 1,040 |
Loans and leases greater than 90 days and accruing | 0 | 0 |
Commercial | Mortgage | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Nonaccruing | 12,594 | 22,625 |
Loans and leases greater than 90 days and accruing | 0 | 397 |
Commercial | Commercial and industrial | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Nonaccruing | 4,624 | 4,876 |
Loans and leases greater than 90 days and accruing | 808 | 428 |
Commercial | Other commercial real estate | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Nonaccruing | 366 | 916 |
Loans and leases greater than 90 days and accruing | 0 | 0 |
Noncommercial | Construction and land development | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Nonaccruing | 1,823 | 1,989 |
Loans and leases greater than 90 days and accruing | 0 | 0 |
Noncommercial | Mortgage | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Nonaccruing | 35,662 | 38,942 |
Loans and leases greater than 90 days and accruing | 0 | 0 |
Noncommercial | Other | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Nonaccruing | 279 | 164 |
Loans and leases greater than 90 days and accruing | 0 | 0 |
Noncommercial | Revolving mortgage | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Nonaccruing | 25,563 | 19,990 |
Loans and leases greater than 90 days and accruing | 0 | 0 |
Noncommercial | Consumer | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Nonaccruing | 2,969 | 1,992 |
Loans and leases greater than 90 days and accruing | $ 2,080 | $ 2,153 |
Loans and Leases (Changes In Ca
Loans and Leases (Changes In Carrying Value Of Acquired Impaired Loans) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||||||||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | Nov. 01, 2018 | Oct. 02, 2018 | May 01, 2018 | May 05, 2017 | Jan. 13, 2017 | Dec. 31, 2015 | |
Carrying Value of Acquired Impaired Loans [Roll Forward] | |||||||||
Reductions for repayments, foreclosures and changes in carrying value, net of accretion | $ (248,114) | $ (322,447) | $ (298,602) | ||||||
Outstanding principal balance | 960,457 | 1,175,441 | 1,266,395 | ||||||
PCI Loans | 606,576 | 762,998 | 809,169 | $ 950,516 | |||||
PCI loans | 30,190 | 199,682 | 80,690 | ||||||
Certain Loans Acquired in Transfer Accounted for as Debt Securities, Accretable Yield, Accretion | 61,502 | 76,594 | $ 76,565 | ||||||
Commercial | |||||||||
Carrying Value of Acquired Impaired Loans [Roll Forward] | |||||||||
PCI Loans | 296,672 | 393,419 | |||||||
PCI Loans | |||||||||
Loans and Leases Receivable Disclosure [Abstract] | |||||||||
Nonaccruing | $ 1,300 | $ 624 | |||||||
Palmetto Heritage Bancshares | |||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||||
Certain Loans Acquired in Transfer Accounted for as Debt Securities, Acquired During Period, Contractually Required Payments Receivable at Acquisition | $ 4,783 | ||||||||
Carrying Value of Acquired Impaired Loans [Roll Forward] | |||||||||
Certain Loans Acquired in Transfer Accounted for as Debt Securities, Acquired During Period, Cash Flows Expected to be Collected at Acquisition | 4,112 | ||||||||
PCI loans | $ 3,863 | 3,863 | |||||||
Palmetto Heritage Bancshares | Commercial | |||||||||
Carrying Value of Acquired Impaired Loans [Roll Forward] | |||||||||
PCI loans | 1,637 | ||||||||
Palmetto Heritage Bancshares | Noncommercial | |||||||||
Carrying Value of Acquired Impaired Loans [Roll Forward] | |||||||||
PCI loans | 2,226 | ||||||||
Palmetto Heritage Bancshares | Construction and land development | Commercial | |||||||||
Carrying Value of Acquired Impaired Loans [Roll Forward] | |||||||||
PCI loans | 212 | ||||||||
Palmetto Heritage Bancshares | Construction and land development | Noncommercial | |||||||||
Carrying Value of Acquired Impaired Loans [Roll Forward] | |||||||||
PCI loans | 0 | ||||||||
Palmetto Heritage Bancshares | Mortgage | Commercial | |||||||||
Carrying Value of Acquired Impaired Loans [Roll Forward] | |||||||||
PCI loans | 1,053 | ||||||||
Palmetto Heritage Bancshares | Mortgage | Noncommercial | |||||||||
Carrying Value of Acquired Impaired Loans [Roll Forward] | |||||||||
PCI loans | 2,226 | ||||||||
Palmetto Heritage Bancshares | Revolving mortgage | Noncommercial | |||||||||
Carrying Value of Acquired Impaired Loans [Roll Forward] | |||||||||
PCI loans | 0 | ||||||||
Palmetto Heritage Bancshares | Other commercial real estate | Commercial | |||||||||
Carrying Value of Acquired Impaired Loans [Roll Forward] | |||||||||
PCI loans | 0 | ||||||||
Palmetto Heritage Bancshares | Commercial and industrial | Commercial | |||||||||
Carrying Value of Acquired Impaired Loans [Roll Forward] | |||||||||
PCI loans | 372 | ||||||||
Palmetto Heritage Bancshares | Consumer | Noncommercial | |||||||||
Carrying Value of Acquired Impaired Loans [Roll Forward] | |||||||||
PCI loans | $ 0 | ||||||||
Capital Commerce Bancorp | |||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||||
Certain Loans Acquired in Transfer Accounted for as Debt Securities, Acquired During Period, Contractually Required Payments Receivable at Acquisition | 13,871 | ||||||||
Carrying Value of Acquired Impaired Loans [Roll Forward] | |||||||||
Certain Loans Acquired in Transfer Accounted for as Debt Securities, Acquired During Period, Cash Flows Expected to be Collected at Acquisition | 11,814 | ||||||||
PCI loans | $ 10,772 | 10,772 | |||||||
Capital Commerce Bancorp | Commercial | |||||||||
Carrying Value of Acquired Impaired Loans [Roll Forward] | |||||||||
PCI loans | 4,250 | ||||||||
Capital Commerce Bancorp | Noncommercial | |||||||||
Carrying Value of Acquired Impaired Loans [Roll Forward] | |||||||||
PCI loans | 6,522 | ||||||||
Capital Commerce Bancorp | Construction and land development | Commercial | |||||||||
Carrying Value of Acquired Impaired Loans [Roll Forward] | |||||||||
PCI loans | 1,482 | ||||||||
Capital Commerce Bancorp | Construction and land development | Noncommercial | |||||||||
Carrying Value of Acquired Impaired Loans [Roll Forward] | |||||||||
PCI loans | 0 | ||||||||
Capital Commerce Bancorp | Mortgage | Commercial | |||||||||
Carrying Value of Acquired Impaired Loans [Roll Forward] | |||||||||
PCI loans | 1,846 | ||||||||
Capital Commerce Bancorp | Mortgage | Noncommercial | |||||||||
Carrying Value of Acquired Impaired Loans [Roll Forward] | |||||||||
PCI loans | 6,503 | ||||||||
Capital Commerce Bancorp | Revolving mortgage | Noncommercial | |||||||||
Carrying Value of Acquired Impaired Loans [Roll Forward] | |||||||||
PCI loans | 0 | ||||||||
Capital Commerce Bancorp | Other commercial real estate | Commercial | |||||||||
Carrying Value of Acquired Impaired Loans [Roll Forward] | |||||||||
PCI loans | 0 | ||||||||
Capital Commerce Bancorp | Commercial and industrial | Commercial | |||||||||
Carrying Value of Acquired Impaired Loans [Roll Forward] | |||||||||
PCI loans | 922 | ||||||||
Capital Commerce Bancorp | Consumer | Noncommercial | |||||||||
Carrying Value of Acquired Impaired Loans [Roll Forward] | |||||||||
PCI loans | $ 19 | ||||||||
HomeBancorp Inc. | |||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||||
Certain Loans Acquired in Transfer Accounted for as Debt Securities, Acquired During Period, Contractually Required Payments Receivable at Acquisition | 26,651 | ||||||||
Carrying Value of Acquired Impaired Loans [Roll Forward] | |||||||||
Certain Loans Acquired in Transfer Accounted for as Debt Securities, Acquired During Period, Cash Flows Expected to be Collected at Acquisition | 19,697 | ||||||||
PCI loans | $ 15,555 | 15,555 | |||||||
HomeBancorp Inc. | Commercial | |||||||||
Carrying Value of Acquired Impaired Loans [Roll Forward] | |||||||||
PCI loans | 8,238 | ||||||||
HomeBancorp Inc. | Noncommercial | |||||||||
Carrying Value of Acquired Impaired Loans [Roll Forward] | |||||||||
PCI loans | 7,317 | ||||||||
HomeBancorp Inc. | Construction and land development | Commercial | |||||||||
Carrying Value of Acquired Impaired Loans [Roll Forward] | |||||||||
PCI loans | 0 | ||||||||
HomeBancorp Inc. | Construction and land development | Noncommercial | |||||||||
Carrying Value of Acquired Impaired Loans [Roll Forward] | |||||||||
PCI loans | 0 | ||||||||
HomeBancorp Inc. | Mortgage | Commercial | |||||||||
Carrying Value of Acquired Impaired Loans [Roll Forward] | |||||||||
PCI loans | 7,815 | ||||||||
HomeBancorp Inc. | Mortgage | Noncommercial | |||||||||
Carrying Value of Acquired Impaired Loans [Roll Forward] | |||||||||
PCI loans | 7,317 | ||||||||
HomeBancorp Inc. | Revolving mortgage | Noncommercial | |||||||||
Carrying Value of Acquired Impaired Loans [Roll Forward] | |||||||||
PCI loans | 0 | ||||||||
HomeBancorp Inc. | Other commercial real estate | Commercial | |||||||||
Carrying Value of Acquired Impaired Loans [Roll Forward] | |||||||||
PCI loans | 0 | ||||||||
HomeBancorp Inc. | Commercial and industrial | Commercial | |||||||||
Carrying Value of Acquired Impaired Loans [Roll Forward] | |||||||||
PCI loans | 423 | ||||||||
HomeBancorp Inc. | Consumer | Noncommercial | |||||||||
Carrying Value of Acquired Impaired Loans [Roll Forward] | |||||||||
PCI loans | $ 0 | ||||||||
Guaranty Bank | |||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||||
Certain Loans Acquired in Transfer Accounted for as Debt Securities, Acquired During Period, Contractually Required Payments Receivable at Acquisition | 158,456 | ||||||||
Carrying Value of Acquired Impaired Loans [Roll Forward] | |||||||||
Certain Loans Acquired in Transfer Accounted for as Debt Securities, Acquired During Period, Cash Flows Expected to be Collected at Acquisition | 142,000 | ||||||||
PCI loans | 114,533 | ||||||||
Guaranty Bank | Commercial | |||||||||
Carrying Value of Acquired Impaired Loans [Roll Forward] | |||||||||
PCI loans | 701 | ||||||||
Guaranty Bank | Noncommercial | |||||||||
Carrying Value of Acquired Impaired Loans [Roll Forward] | |||||||||
PCI loans | 113,832 | ||||||||
Guaranty Bank | Construction and land development | Commercial | |||||||||
Carrying Value of Acquired Impaired Loans [Roll Forward] | |||||||||
PCI loans | 55 | ||||||||
Guaranty Bank | Construction and land development | Noncommercial | |||||||||
Carrying Value of Acquired Impaired Loans [Roll Forward] | |||||||||
PCI loans | 26 | ||||||||
Guaranty Bank | Mortgage | Commercial | |||||||||
Carrying Value of Acquired Impaired Loans [Roll Forward] | |||||||||
PCI loans | 644 | ||||||||
Guaranty Bank | Mortgage | Noncommercial | |||||||||
Carrying Value of Acquired Impaired Loans [Roll Forward] | |||||||||
PCI loans | 80,475 | ||||||||
Guaranty Bank | Revolving mortgage | Noncommercial | |||||||||
Carrying Value of Acquired Impaired Loans [Roll Forward] | |||||||||
PCI loans | 33,319 | ||||||||
Guaranty Bank | Other commercial real estate | Commercial | |||||||||
Carrying Value of Acquired Impaired Loans [Roll Forward] | |||||||||
PCI loans | 0 | ||||||||
Guaranty Bank | Commercial and industrial | Commercial | |||||||||
Carrying Value of Acquired Impaired Loans [Roll Forward] | |||||||||
PCI loans | 2 | ||||||||
Guaranty Bank | Consumer | Noncommercial | |||||||||
Carrying Value of Acquired Impaired Loans [Roll Forward] | |||||||||
PCI loans | $ 12 | ||||||||
Harvest Community Bank | |||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||||
Certain Loans Acquired in Transfer Accounted for as Debt Securities, Acquired During Period, Contractually Required Payments Receivable at Acquisition | $ 111,250 | ||||||||
Carrying Value of Acquired Impaired Loans [Roll Forward] | |||||||||
Certain Loans Acquired in Transfer Accounted for as Debt Securities, Acquired During Period, Cash Flows Expected to be Collected at Acquisition | 101,802 | ||||||||
PCI loans | 85,149 | ||||||||
Harvest Community Bank | Commercial | |||||||||
Carrying Value of Acquired Impaired Loans [Roll Forward] | |||||||||
PCI loans | 54,976 | ||||||||
Harvest Community Bank | Noncommercial | |||||||||
Carrying Value of Acquired Impaired Loans [Roll Forward] | |||||||||
PCI loans | 30,173 | ||||||||
Harvest Community Bank | Construction and land development | Commercial | |||||||||
Carrying Value of Acquired Impaired Loans [Roll Forward] | |||||||||
PCI loans | 7,061 | ||||||||
Harvest Community Bank | Construction and land development | Noncommercial | |||||||||
Carrying Value of Acquired Impaired Loans [Roll Forward] | |||||||||
PCI loans | 0 | ||||||||
Harvest Community Bank | Mortgage | Commercial | |||||||||
Carrying Value of Acquired Impaired Loans [Roll Forward] | |||||||||
PCI loans | 21,836 | ||||||||
Harvest Community Bank | Mortgage | Noncommercial | |||||||||
Carrying Value of Acquired Impaired Loans [Roll Forward] | |||||||||
PCI loans | 25,857 | ||||||||
Harvest Community Bank | Revolving mortgage | Noncommercial | |||||||||
Carrying Value of Acquired Impaired Loans [Roll Forward] | |||||||||
PCI loans | 3,434 | ||||||||
Harvest Community Bank | Other commercial real estate | Commercial | |||||||||
Carrying Value of Acquired Impaired Loans [Roll Forward] | |||||||||
PCI loans | 6,404 | ||||||||
Harvest Community Bank | Commercial and industrial | Commercial | |||||||||
Carrying Value of Acquired Impaired Loans [Roll Forward] | |||||||||
PCI loans | 19,675 | ||||||||
Harvest Community Bank | Consumer | Noncommercial | |||||||||
Carrying Value of Acquired Impaired Loans [Roll Forward] | |||||||||
PCI loans | $ 882 |
Loans and Leases (Recorded Fair
Loans and Leases (Recorded Fair Values of Purchased Non-Impaired Loans and Leases) (Details) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018USD ($)loans | Dec. 31, 2017USD ($)loans | May 05, 2017USD ($) | |
Non-PCI Loans | |||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | |||
Financing Receivable, Modifications, Number of Contracts | loans | 491 | 632 | |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 43,553 | $ 49,000 | |
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans | 164 | 204 | |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 13,318 | $ 11,990 | |
Principal Forgiveness [Member] | Non-PCI Loans | |||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | |||
Financing Receivable, Modifications, Number of Contracts | loans | 3 | 6 | |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 1,003 | $ 1,206 | |
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans | 0 | 1 | |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 0 | $ 634 | |
Principal Forgiveness [Member] | Non-PCI Loans | Commercial | |||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | |||
Financing Receivable, Modifications, Number of Contracts | loans | 3 | 5 | |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 1,003 | $ 1,124 | |
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans | 0 | 1 | |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 0 | $ 634 | |
Principal Forgiveness [Member] | Non-PCI Loans | Noncommercial | |||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | |||
Financing Receivable, Modifications, Number of Contracts | loans | 0 | 1 | |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 0 | $ 82 | |
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans | 0 | 0 | |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 0 | $ 0 | |
Extended Maturity [Member] | Non-PCI Loans | |||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | |||
Financing Receivable, Modifications, Number of Contracts | loans | 42 | 47 | |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 5,486 | $ 6,517 | |
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans | 8 | 2 | |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 865 | $ 273 | |
Extended Maturity [Member] | Non-PCI Loans | Commercial | |||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | |||
Financing Receivable, Modifications, Number of Contracts | loans | 21 | 13 | |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 3,933 | $ 3,007 | |
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans | 4 | 0 | |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 675 | $ 0 | |
Extended Maturity [Member] | Non-PCI Loans | Noncommercial | |||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | |||
Financing Receivable, Modifications, Number of Contracts | loans | 21 | 34 | |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 1,554 | $ 3,510 | |
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans | 4 | 2 | |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 190 | $ 273 | |
Interest Rate Below Market Reduction [Member] | Non-PCI Loans | |||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | |||
Financing Receivable, Modifications, Number of Contracts | loans | 269 | 363 | |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 28,404 | $ 30,412 | |
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans | 92 | 110 | |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 8,459 | $ 7,983 | |
Interest Rate Below Market Reduction [Member] | Non-PCI Loans | Commercial | |||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | |||
Financing Receivable, Modifications, Number of Contracts | loans | 85 | 92 | |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 12,859 | $ 14,811 | |
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans | 24 | 32 | |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 2,998 | $ 3,392 | |
Interest Rate Below Market Reduction [Member] | Non-PCI Loans | Noncommercial | |||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | |||
Financing Receivable, Modifications, Number of Contracts | loans | 184 | 271 | |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 15,545 | $ 15,601 | |
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans | 68 | 78 | |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 5,461 | $ 4,591 | |
Discharge of Debt [Member] | Non-PCI Loans | |||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | |||
Financing Receivable, Modifications, Number of Contracts | loans | 177 | 216 | |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 8,660 | $ 10,865 | |
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans | 64 | 91 | |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 3,994 | $ 3,100 | |
Discharge of Debt [Member] | Non-PCI Loans | Commercial | |||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | |||
Financing Receivable, Modifications, Number of Contracts | loans | 26 | 39 | |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 2,043 | $ 3,012 | |
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans | 8 | 26 | |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 825 | $ 708 | |
Discharge of Debt [Member] | Non-PCI Loans | Noncommercial | |||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | |||
Financing Receivable, Modifications, Number of Contracts | loans | 151 | 177 | |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 6,617 | $ 7,853 | |
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans | 56 | 65 | |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 3,169 | $ 2,392 | |
Palmetto Heritage Bancshares | |||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | |||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Acquired During Period, Contractually Required Payments Receivable at Acquisition | 142,413 | ||
CertainLoansAcquiredinTransferNotAccountedforasDebtSecuritiesAcquiredDuringPeriodCashFlowsNotExpectedtobeCollectedatAcquisition | 0 | ||
Total non-PCI loans and leases | 131,283 | $ 131,300 | |
Palmetto Heritage Bancshares | Commercial | |||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | |||
Total non-PCI loans and leases | 52,356 | ||
Palmetto Heritage Bancshares | Commercial | Construction and land development | |||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | |||
Total non-PCI loans and leases | 13,186 | ||
Palmetto Heritage Bancshares | Commercial | Mortgage | |||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | |||
Total non-PCI loans and leases | 29,225 | ||
Palmetto Heritage Bancshares | Commercial | Other commercial real estate | |||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | |||
Total non-PCI loans and leases | 753 | ||
Palmetto Heritage Bancshares | Commercial | Commercial and industrial | |||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | |||
Total non-PCI loans and leases | 8,153 | ||
Palmetto Heritage Bancshares | Commercial | Other | |||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | |||
Total non-PCI loans and leases | 1,039 | ||
Palmetto Heritage Bancshares | Noncommercial | |||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | |||
Total non-PCI loans and leases | 78,927 | ||
Palmetto Heritage Bancshares | Noncommercial | Mortgage | |||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | |||
Total non-PCI loans and leases | 59,076 | ||
Palmetto Heritage Bancshares | Noncommercial | Commercial and industrial | |||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | |||
Total non-PCI loans and leases | 11,103 | ||
Palmetto Heritage Bancshares | Noncommercial | Revolving mortgage | |||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | |||
Total non-PCI loans and leases | 6,175 | ||
Palmetto Heritage Bancshares | Noncommercial | Consumer | |||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | |||
Total non-PCI loans and leases | 2,573 | ||
Capital Commerce Bancorp | |||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | |||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Acquired During Period, Contractually Required Payments Receivable at Acquisition | 198,568 | ||
CertainLoansAcquiredinTransferNotAccountedforasDebtSecuritiesAcquiredDuringPeriodCashFlowsNotExpectedtobeCollectedatAcquisition | 5,427 | ||
Total non-PCI loans and leases | 173,354 | 173,400 | |
Capital Commerce Bancorp | Commercial | |||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | |||
Total non-PCI loans and leases | 108,019 | ||
Capital Commerce Bancorp | Commercial | Construction and land development | |||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | |||
Total non-PCI loans and leases | 10,299 | ||
Capital Commerce Bancorp | Commercial | Mortgage | |||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | |||
Total non-PCI loans and leases | 57,049 | ||
Capital Commerce Bancorp | Commercial | Other commercial real estate | |||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | |||
Total non-PCI loans and leases | 6,370 | ||
Capital Commerce Bancorp | Commercial | Commercial and industrial | |||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | |||
Total non-PCI loans and leases | 34,301 | ||
Capital Commerce Bancorp | Commercial | Other | |||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | |||
Total non-PCI loans and leases | 0 | ||
Capital Commerce Bancorp | Noncommercial | |||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | |||
Total non-PCI loans and leases | 65,335 | ||
Capital Commerce Bancorp | Noncommercial | Mortgage | |||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | |||
Total non-PCI loans and leases | 50,630 | ||
Capital Commerce Bancorp | Noncommercial | Commercial and industrial | |||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | |||
Total non-PCI loans and leases | 11,173 | ||
Capital Commerce Bancorp | Noncommercial | Revolving mortgage | |||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | |||
Total non-PCI loans and leases | 2,552 | ||
Capital Commerce Bancorp | Noncommercial | Consumer | |||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | |||
Total non-PCI loans and leases | 980 | ||
HomeBancorp Inc. | |||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | |||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Acquired During Period, Contractually Required Payments Receivable at Acquisition | 710,876 | ||
CertainLoansAcquiredinTransferNotAccountedforasDebtSecuritiesAcquiredDuringPeriodCashFlowsNotExpectedtobeCollectedatAcquisition | 9,845 | ||
Total non-PCI loans and leases | 550,618 | 550,600 | |
HomeBancorp Inc. | Commercial | |||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | |||
Total non-PCI loans and leases | 252,327 | ||
HomeBancorp Inc. | Commercial | Construction and land development | |||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | |||
Total non-PCI loans and leases | 525 | ||
HomeBancorp Inc. | Commercial | Mortgage | |||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | |||
Total non-PCI loans and leases | 188,688 | ||
HomeBancorp Inc. | Commercial | Other commercial real estate | |||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | |||
Total non-PCI loans and leases | 55,183 | ||
HomeBancorp Inc. | Commercial | Commercial and industrial | |||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | |||
Total non-PCI loans and leases | 7,931 | ||
HomeBancorp Inc. | Commercial | Other | |||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | |||
Total non-PCI loans and leases | 0 | ||
HomeBancorp Inc. | Noncommercial | |||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | |||
Total non-PCI loans and leases | 298,291 | ||
HomeBancorp Inc. | Noncommercial | Mortgage | |||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | |||
Total non-PCI loans and leases | 296,273 | ||
HomeBancorp Inc. | Noncommercial | Commercial and industrial | |||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | |||
Total non-PCI loans and leases | 0 | ||
HomeBancorp Inc. | Noncommercial | Revolving mortgage | |||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | |||
Total non-PCI loans and leases | 51 | ||
HomeBancorp Inc. | Noncommercial | Consumer | |||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | |||
Total non-PCI loans and leases | 1,967 | ||
Guaranty Bank | |||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | |||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Acquired During Period, Contractually Required Payments Receivable at Acquisition | 703,916 | ||
CertainLoansAcquiredinTransferNotAccountedforasDebtSecuritiesAcquiredDuringPeriodCashFlowsNotExpectedtobeCollectedatAcquisition | 16,073 | ||
Total non-PCI loans and leases | $ 574,553 | 574,600 | |
Guaranty Bank | Commercial | |||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | |||
Total non-PCI loans and leases | 185,249 | ||
Guaranty Bank | Commercial | Construction and land development | |||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | |||
Total non-PCI loans and leases | 0 | ||
Guaranty Bank | Commercial | Mortgage | |||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | |||
Total non-PCI loans and leases | 850 | ||
Guaranty Bank | Commercial | Other commercial real estate | |||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | |||
Total non-PCI loans and leases | 0 | ||
Guaranty Bank | Commercial | Commercial and industrial | |||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | |||
Total non-PCI loans and leases | 583 | ||
Guaranty Bank | Commercial | Other | |||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | |||
Total non-PCI loans and leases | 183,816 | ||
Guaranty Bank | Noncommercial | |||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | |||
Total non-PCI loans and leases | 389,304 | ||
Guaranty Bank | Noncommercial | Mortgage | |||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | |||
Total non-PCI loans and leases | 309,612 | ||
Guaranty Bank | Noncommercial | Commercial and industrial | |||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | |||
Total non-PCI loans and leases | 0 | ||
Guaranty Bank | Noncommercial | Revolving mortgage | |||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | |||
Total non-PCI loans and leases | 54,780 | ||
Guaranty Bank | Noncommercial | Consumer | |||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | |||
Total non-PCI loans and leases | $ 24,912 |
Loans and Leases (Changes In _2
Loans and Leases (Changes In Carrying Amount Of Accretable Yield) (Details) - USD ($) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Changes in Amount of Accretable Yield [Roll Forward] | ||||
Certain Loans Acquired in Transfer Accounted for as Debt Securities, Accretable Yield | $ 312,894 | $ 316,679 | $ 335,074 | $ 343,856 |
Certain Loans Acquired in Transfer Accounted for as Debt Securities, Accretable Yield, Additions | 6,393 | 44,120 | 12,488 | |
Accretion | (61,502) | (76,594) | (76,565) | |
Reclassifications from nonaccretable difference | 5,980 | 18,901 | 29,931 | |
Changes in expected cash flows that do not affect nonaccretable difference | $ 45,344 | $ (4,822) | $ 25,364 |
Allowance for Loan and Lease _3
Allowance for Loan and Lease Losses (Summary of Activity In Allowance for Loan and Lease Losses) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||||||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Loans and Leases Evaluated for Impairment [Abstract] | |||||||
Net Loans and Leases | $ 25,299,564 | $ 23,374,932 | |||||
Loan and Lease Acquired with Deteriorated Credit Quality [Abstract] | |||||||
ALLL for loans and leases acquired with deteriorated credit quality | 223,712 | 221,893 | |||||
PCI Loans | 606,576 | 762,998 | $ 809,169 | $ 950,516 | |||
Commercial | |||||||
Loan and Lease Acquired with Deteriorated Credit Quality [Abstract] | |||||||
PCI Loans | 296,672 | 393,419 | |||||
Non-PCI Loans | |||||||
Allowance for Loan and Lease Losses [Roll Forward] | |||||||
Beginning balance | $ 211,867 | $ 205,026 | $ 189,904 | ||||
Provisions | 29,232 | 29,139 | 34,870 | ||||
Charge-offs | (39,554) | (36,386) | (29,587) | ||||
Recoveries | 13,023 | 14,088 | 9,839 | ||||
Ending balance | 214,568 | 211,867 | 205,026 | ||||
Allowance for Loans and Leases Evaluated for Impairment [Abstract] | |||||||
ALLL for loans and leases individually evaluated for impairment | 9,827 | 9,728 | |||||
ALLL for loans and leases collectively evaluated for impairment | 204,741 | 202,139 | |||||
Total allowance for loan and lease losses | 211,867 | 205,026 | 189,904 | 214,568 | 211,867 | 205,026 | 189,904 |
Loans and Leases Evaluated for Impairment [Abstract] | |||||||
Loans and leases individually evaluated for impairment | 146,430 | 155,646 | |||||
Loans and leases collectively evaluated for impairment | 24,770,270 | 22,678,181 | |||||
Net Loans and Leases | 24,916,700 | 22,833,827 | |||||
Non-PCI Loans | Commercial | Construction and land development | |||||||
Allowance for Loan and Lease Losses [Roll Forward] | |||||||
Beginning balance | 24,470 | 28,877 | 16,288 | ||||
Provisions | 10,533 | (4,329) | 12,871 | ||||
Charge-offs | (44) | (599) | (680) | ||||
Recoveries | 311 | 521 | 398 | ||||
Ending balance | 35,270 | 24,470 | 28,877 | ||||
Allowance for Loans and Leases Evaluated for Impairment [Abstract] | |||||||
ALLL for loans and leases individually evaluated for impairment | 490 | 185 | |||||
ALLL for loans and leases collectively evaluated for impairment | 34,780 | 24,285 | |||||
Total allowance for loan and lease losses | 24,470 | 28,877 | 16,288 | 35,270 | 24,470 | 28,877 | 16,288 |
Loans and Leases Evaluated for Impairment [Abstract] | |||||||
Loans and leases individually evaluated for impairment | 2,175 | 788 | |||||
Loans and leases collectively evaluated for impairment | 755,679 | 668,427 | |||||
Net Loans and Leases | 757,854 | 669,215 | |||||
Non-PCI Loans | Commercial | Mortgage | |||||||
Allowance for Loan and Lease Losses [Roll Forward] | |||||||
Beginning balance | 45,005 | 48,278 | 69,896 | ||||
Provisions | (1,490) | (5,694) | (21,912) | ||||
Charge-offs | (1,140) | (421) | (987) | ||||
Recoveries | 1,076 | 2,842 | 1,281 | ||||
Ending balance | 43,451 | 45,005 | 48,278 | ||||
Allowance for Loans and Leases Evaluated for Impairment [Abstract] | |||||||
ALLL for loans and leases individually evaluated for impairment | 2,671 | 3,648 | |||||
ALLL for loans and leases collectively evaluated for impairment | 40,780 | 41,357 | |||||
Total allowance for loan and lease losses | 45,005 | 48,278 | 69,896 | 43,451 | 45,005 | 48,278 | 69,896 |
Loans and Leases Evaluated for Impairment [Abstract] | |||||||
Loans and leases individually evaluated for impairment | 55,447 | 73,655 | |||||
Loans and leases collectively evaluated for impairment | 10,661,787 | 9,655,367 | |||||
Net Loans and Leases | 10,717,234 | 9,729,022 | |||||
Non-PCI Loans | Commercial | Other commercial real estate | |||||||
Allowance for Loan and Lease Losses [Roll Forward] | |||||||
Beginning balance | 4,571 | 3,269 | 2,168 | ||||
Provisions | (2,171) | 1,280 | 925 | ||||
Charge-offs | (69) | (5) | 0 | ||||
Recoveries | 150 | 27 | 176 | ||||
Ending balance | 2,481 | 4,571 | 3,269 | ||||
Allowance for Loans and Leases Evaluated for Impairment [Abstract] | |||||||
ALLL for loans and leases individually evaluated for impairment | 42 | 209 | |||||
ALLL for loans and leases collectively evaluated for impairment | 2,439 | 4,362 | |||||
Total allowance for loan and lease losses | 4,571 | 3,269 | 2,168 | 2,481 | 4,571 | 3,269 | 2,168 |
Loans and Leases Evaluated for Impairment [Abstract] | |||||||
Loans and leases individually evaluated for impairment | 860 | 1,857 | |||||
Loans and leases collectively evaluated for impairment | 426,125 | 471,576 | |||||
Net Loans and Leases | 426,985 | 473,433 | |||||
Non-PCI Loans | Commercial | Commercial and industrial | |||||||
Allowance for Loan and Lease Losses [Roll Forward] | |||||||
Beginning balance | 59,824 | 56,132 | 48,640 | ||||
Provisions | 2,511 | 11,624 | 15,218 | ||||
Charge-offs | (10,211) | (11,921) | (9,455) | ||||
Recoveries | 3,496 | 3,989 | 1,729 | ||||
Ending balance | 55,620 | 59,824 | 56,132 | ||||
Allowance for Loans and Leases Evaluated for Impairment [Abstract] | |||||||
ALLL for loans and leases individually evaluated for impairment | 1,137 | 1,062 | |||||
ALLL for loans and leases collectively evaluated for impairment | 54,483 | 58,762 | |||||
Total allowance for loan and lease losses | 59,824 | 56,132 | 48,640 | 55,620 | 59,824 | 56,132 | 48,640 |
Loans and Leases Evaluated for Impairment [Abstract] | |||||||
Loans and leases individually evaluated for impairment | 9,868 | 9,888 | |||||
Loans and leases collectively evaluated for impairment | 3,928,862 | 3,615,320 | |||||
Net Loans and Leases | 3,938,730 | 3,625,208 | |||||
Non-PCI Loans | Commercial | Other | |||||||
Allowance for Loan and Lease Losses [Roll Forward] | |||||||
Beginning balance | 4,689 | 3,127 | 1,855 | ||||
Provisions | (2,827) | 2,189 | 877 | ||||
Charge-offs | (130) | (912) | (144) | ||||
Recoveries | 489 | 285 | 539 | ||||
Ending balance | 2,221 | 4,689 | 3,127 | ||||
Allowance for Loans and Leases Evaluated for Impairment [Abstract] | |||||||
ALLL for loans and leases individually evaluated for impairment | 105 | 0 | |||||
ALLL for loans and leases collectively evaluated for impairment | 2,116 | 4,689 | |||||
Total allowance for loan and lease losses | 4,689 | 3,127 | 1,855 | 2,221 | 4,689 | 3,127 | 1,855 |
Loans and Leases Evaluated for Impairment [Abstract] | |||||||
Loans and leases individually evaluated for impairment | 291 | 521 | |||||
Loans and leases collectively evaluated for impairment | 296,133 | 301,655 | |||||
Net Loans and Leases | 296,424 | 302,176 | |||||
Non-PCI Loans | Noncommercial | Construction and land development | |||||||
Allowance for Loan and Lease Losses [Roll Forward] | |||||||
Beginning balance | 3,962 | 1,596 | 1,485 | ||||
Provisions | (1,520) | 2,366 | 45 | ||||
Charge-offs | (219) | 0 | 0 | ||||
Recoveries | 127 | 0 | 66 | ||||
Ending balance | 2,350 | 3,962 | 1,596 | ||||
Allowance for Loans and Leases Evaluated for Impairment [Abstract] | |||||||
ALLL for loans and leases individually evaluated for impairment | 81 | 68 | |||||
ALLL for loans and leases collectively evaluated for impairment | 2,269 | 3,894 | |||||
Total allowance for loan and lease losses | 3,962 | 1,596 | 1,485 | 2,350 | 3,962 | 1,596 | 1,485 |
Loans and Leases Evaluated for Impairment [Abstract] | |||||||
Loans and leases individually evaluated for impairment | 3,749 | 4,551 | |||||
Loans and leases collectively evaluated for impairment | 253,281 | 243,738 | |||||
Net Loans and Leases | 257,030 | 248,289 | |||||
Non-PCI Loans | Noncommercial | Mortgage | |||||||
Allowance for Loan and Lease Losses [Roll Forward] | |||||||
Beginning balance | 15,706 | 14,447 | 14,105 | ||||
Provisions | 897 | 2,096 | 801 | ||||
Charge-offs | (1,689) | (1,376) | (926) | ||||
Recoveries | 558 | 539 | 467 | ||||
Ending balance | 15,472 | 15,706 | 14,447 | ||||
Allowance for Loans and Leases Evaluated for Impairment [Abstract] | |||||||
ALLL for loans and leases individually evaluated for impairment | 1,901 | 2,733 | |||||
ALLL for loans and leases collectively evaluated for impairment | 13,571 | 12,973 | |||||
Total allowance for loan and lease losses | 15,706 | 14,447 | 14,105 | 15,472 | 15,706 | 14,447 | 14,105 |
Loans and Leases Evaluated for Impairment [Abstract] | |||||||
Loans and leases individually evaluated for impairment | 42,168 | 37,842 | |||||
Loans and leases collectively evaluated for impairment | 4,223,519 | 3,485,944 | |||||
Net Loans and Leases | 4,265,687 | 3,523,786 | |||||
Non-PCI Loans | Noncommercial | Revolving mortgage | |||||||
Allowance for Loan and Lease Losses [Roll Forward] | |||||||
Beginning balance | 22,436 | 21,013 | 15,971 | ||||
Provisions | 1,112 | 2,509 | 7,413 | ||||
Charge-offs | (3,235) | (2,368) | (3,287) | ||||
Recoveries | 1,549 | 1,282 | 916 | ||||
Ending balance | 21,862 | 22,436 | 21,013 | ||||
Allowance for Loans and Leases Evaluated for Impairment [Abstract] | |||||||
ALLL for loans and leases individually evaluated for impairment | 2,515 | 1,085 | |||||
ALLL for loans and leases collectively evaluated for impairment | 19,347 | 21,351 | |||||
Total allowance for loan and lease losses | 22,436 | 21,013 | 15,971 | 21,862 | 22,436 | 21,013 | 15,971 |
Loans and Leases Evaluated for Impairment [Abstract] | |||||||
Loans and leases individually evaluated for impairment | 28,852 | 23,770 | |||||
Loans and leases collectively evaluated for impairment | 2,514,123 | 2,677,755 | |||||
Net Loans and Leases | 2,542,975 | 2,701,525 | |||||
Non-PCI Loans | Noncommercial | Consumer | |||||||
Allowance for Loan and Lease Losses [Roll Forward] | |||||||
Beginning balance | 31,204 | 28,287 | 19,496 | ||||
Provisions | 22,187 | 17,098 | 18,632 | ||||
Charge-offs | (22,817) | (18,784) | (14,108) | ||||
Recoveries | 5,267 | 4,603 | 4,267 | ||||
Ending balance | 35,841 | 31,204 | 28,287 | ||||
Allowance for Loans and Leases Evaluated for Impairment [Abstract] | |||||||
ALLL for loans and leases individually evaluated for impairment | 885 | 738 | |||||
ALLL for loans and leases collectively evaluated for impairment | 34,956 | 30,466 | |||||
Total allowance for loan and lease losses | 31,204 | 28,287 | 19,496 | 35,841 | 31,204 | 28,287 | 19,496 |
Loans and Leases Evaluated for Impairment [Abstract] | |||||||
Loans and leases individually evaluated for impairment | 3,020 | 2,774 | |||||
Loans and leases collectively evaluated for impairment | 1,710,761 | 1,558,399 | |||||
Net Loans and Leases | 1,713,781 | 1,561,173 | |||||
PCI Loans | |||||||
Allowance for Loan and Lease Losses [Roll Forward] | |||||||
Beginning balance | 10,026 | 13,769 | 16,312 | ||||
Provisions | (765) | (3,447) | (1,929) | ||||
Charge-offs | (117) | (296) | (614) | ||||
Recoveries | 0 | 0 | 0 | ||||
Ending balance | 9,144 | 10,026 | 13,769 | ||||
Allowance for Loans and Leases Evaluated for Impairment [Abstract] | |||||||
Total allowance for loan and lease losses | $ 10,026 | $ 13,769 | $ 16,312 | $ 9,144 | $ 10,026 | $ 13,769 | $ 16,312 |
Allowance for Loan and Lease _4
Allowance for Loan and Lease Losses (Allocation of Allowance for Loan and Lease Losses) (Details) - USD ($) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Unpaid principal balance | $ 960,457 | $ 1,175,441 | $ 1,266,395 | |
Non-PCI impaired loans less than $500,00 collectively evaluated | 47,100 | 49,100 | ||
Non-PCI Loans | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Unpaid principal balance | 163,902 | 170,034 | ||
ALLL for loans and leases individually evaluated for impairment | 9,827 | 9,728 | ||
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 115,073 | 77,199 | ||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 31,357 | 78,447 | ||
Financing Receivable, Individually Evaluated for Impairment | 146,430 | 155,646 | ||
Average balance | 153,123 | 141,733 | 135,982 | |
Interest income recognized | 5,488 | 4,790 | 4,466 | |
Allowance for loan and lease losses | 214,568 | 211,867 | 205,026 | $ 189,904 |
Non-PCI Loans | Commercial | Other commercial real estate | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Unpaid principal balance | 946 | 2,267 | ||
ALLL for loans and leases individually evaluated for impairment | 42 | 209 | ||
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 243 | 1,351 | ||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 617 | 506 | ||
Financing Receivable, Individually Evaluated for Impairment | 860 | 1,857 | ||
Average balance | 1,225 | 1,642 | 1,112 | |
Interest income recognized | 43 | 34 | 38 | |
Allowance for loan and lease losses | 2,481 | 4,571 | 3,269 | 2,168 |
Non-PCI Loans | Commercial | Construction and land development | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Unpaid principal balance | 2,606 | 1,110 | ||
ALLL for loans and leases individually evaluated for impairment | 490 | 185 | ||
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 1,897 | 788 | ||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 278 | 0 | ||
Financing Receivable, Individually Evaluated for Impairment | 2,175 | 788 | ||
Average balance | 1,734 | 858 | 2,700 | |
Interest income recognized | 84 | 37 | 138 | |
Allowance for loan and lease losses | 35,270 | 24,470 | 28,877 | 16,288 |
Non-PCI Loans | Commercial | Mortgage | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Unpaid principal balance | 61,317 | 78,936 | ||
ALLL for loans and leases individually evaluated for impairment | 2,671 | 3,648 | ||
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 34,177 | 39,135 | ||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 21,270 | 34,520 | ||
Financing Receivable, Individually Evaluated for Impairment | 55,447 | 73,655 | ||
Average balance | 65,943 | 73,815 | 82,146 | |
Interest income recognized | 2,569 | 2,596 | 2,671 | |
Allowance for loan and lease losses | 43,451 | 45,005 | 48,278 | 69,896 |
Non-PCI Loans | Commercial | Commercial and industrial | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Unpaid principal balance | 14,695 | 13,046 | ||
ALLL for loans and leases individually evaluated for impairment | 1,137 | 1,062 | ||
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 7,153 | 8,216 | ||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 2,715 | 1,672 | ||
Financing Receivable, Individually Evaluated for Impairment | 9,868 | 9,888 | ||
Average balance | 9,560 | 11,600 | 13,185 | |
Interest income recognized | 364 | 427 | 480 | |
Allowance for loan and lease losses | 55,620 | 59,824 | 56,132 | 48,640 |
Non-PCI Loans | Commercial | Other | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Unpaid principal balance | 301 | 521 | ||
ALLL for loans and leases individually evaluated for impairment | 105 | 0 | ||
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 216 | 0 | ||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 75 | 521 | ||
Financing Receivable, Individually Evaluated for Impairment | 291 | 521 | ||
Average balance | 135 | 426 | 687 | |
Interest income recognized | 3 | 22 | 33 | |
Allowance for loan and lease losses | 2,221 | 4,689 | 3,127 | 1,855 |
Non-PCI Loans | Noncommercial | Construction and land development | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Unpaid principal balance | 4,035 | 5,224 | ||
ALLL for loans and leases individually evaluated for impairment | 81 | 68 | ||
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 2,337 | 592 | ||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 1,412 | 3,959 | ||
Financing Receivable, Individually Evaluated for Impairment | 3,749 | 4,551 | ||
Average balance | 3,677 | 3,383 | 983 | |
Interest income recognized | 172 | 145 | 50 | |
Allowance for loan and lease losses | 2,350 | 3,962 | 1,596 | 1,485 |
Non-PCI Loans | Noncommercial | Mortgage | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Unpaid principal balance | 45,226 | 39,946 | ||
ALLL for loans and leases individually evaluated for impairment | 1,901 | 2,733 | ||
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 40,359 | 19,135 | ||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 1,809 | 18,707 | ||
Financing Receivable, Individually Evaluated for Impairment | 42,168 | 37,842 | ||
Average balance | 41,368 | 33,818 | 26,774 | |
Interest income recognized | 1,237 | 990 | 805 | |
Allowance for loan and lease losses | 15,472 | 15,706 | 14,447 | 14,105 |
Non-PCI Loans | Noncommercial | Revolving mortgage | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Unpaid principal balance | 31,371 | 25,941 | ||
ALLL for loans and leases individually evaluated for impairment | 2,515 | 1,085 | ||
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 25,751 | 5,875 | ||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 3,101 | 17,895 | ||
Financing Receivable, Individually Evaluated for Impairment | 28,852 | 23,770 | ||
Average balance | 26,759 | 14,022 | 6,915 | |
Interest income recognized | 900 | 436 | 171 | |
Allowance for loan and lease losses | 21,862 | 22,436 | 21,013 | 15,971 |
Non-PCI Loans | Noncommercial | Consumer | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Unpaid principal balance | 3,405 | 3,043 | ||
ALLL for loans and leases individually evaluated for impairment | 885 | 738 | ||
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 2,940 | 2,107 | ||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 80 | 667 | ||
Financing Receivable, Individually Evaluated for Impairment | 3,020 | 2,774 | ||
Average balance | 2,722 | 2,169 | 1,480 | |
Interest income recognized | 116 | 103 | 80 | |
Allowance for loan and lease losses | 35,841 | 31,204 | 28,287 | 19,496 |
PCI Loans | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Acquired loans which have adverse change in expected cash flows | 186,648 | 279,812 | ||
Allowance for loan and lease losses | $ 9,144 | $ 10,026 | $ 13,769 | $ 16,312 |
Allowance for Loan and Lease _5
Allowance for Loan and Lease Losses (Troubled Debt Restructuring) (Details) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2018USD ($)loans | Dec. 31, 2017USD ($)loans | Dec. 31, 2016USD ($) | Dec. 31, 2015USD ($) | |
Financing Receivable, Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | $ 156,130 | $ 164,561 | ||
Non-PCI Loans | ||||
Financing Receivable, Modifications [Line Items] | ||||
Allowance for loan and lease losses | $ 214,568 | $ 211,867 | $ 205,026 | $ 189,904 |
Financing Receivable, Modifications, Number of Contracts | loans | 491 | 632 | ||
Nonaccruing | $ 84,546 | $ 92,534 | ||
Financing Receivable, Modifications, Recorded Investment | 137,910 | 146,126 | ||
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 43,553 | $ 49,000 | ||
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans | 164 | 204 | ||
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 13,318 | $ 11,990 | ||
PCI Loans | ||||
Financing Receivable, Modifications [Line Items] | ||||
Allowance for loan and lease losses | 9,144 | 10,026 | 13,769 | 16,312 |
Nonaccruing | 1,300 | 624 | ||
Financing Receivable, Modifications, Recorded Investment | 18,220 | 18,435 | ||
Commercial | ||||
Financing Receivable, Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 74,560 | 95,392 | ||
Commercial | Construction and land development | ||||
Financing Receivable, Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 2,298 | 4,572 | ||
Commercial | Construction and land development | Non-PCI Loans | ||||
Financing Receivable, Modifications [Line Items] | ||||
Allowance for loan and lease losses | 35,270 | 24,470 | 28,877 | 16,288 |
Nonaccruing | 666 | 1,040 | ||
Commercial | Mortgage | ||||
Financing Receivable, Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 61,065 | 78,221 | ||
Commercial | Mortgage | Non-PCI Loans | ||||
Financing Receivable, Modifications [Line Items] | ||||
Allowance for loan and lease losses | 43,451 | 45,005 | 48,278 | 69,896 |
Nonaccruing | 12,594 | 22,625 | ||
Commercial | Other commercial real estate | ||||
Financing Receivable, Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 860 | 1,800 | ||
Commercial | Other commercial real estate | Non-PCI Loans | ||||
Financing Receivable, Modifications [Line Items] | ||||
Allowance for loan and lease losses | 2,481 | 4,571 | 3,269 | 2,168 |
Nonaccruing | 366 | 916 | ||
Commercial | Commercial and industrial | ||||
Financing Receivable, Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 10,046 | 10,278 | ||
Commercial | Commercial and industrial | Non-PCI Loans | ||||
Financing Receivable, Modifications [Line Items] | ||||
Allowance for loan and lease losses | 55,620 | 59,824 | 56,132 | 48,640 |
Nonaccruing | 4,624 | 4,876 | ||
Commercial | Other | ||||
Financing Receivable, Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 291 | 521 | ||
Commercial | Other | Non-PCI Loans | ||||
Financing Receivable, Modifications [Line Items] | ||||
Allowance for loan and lease losses | 2,221 | 4,689 | 3,127 | 1,855 |
Noncommercial | ||||
Financing Receivable, Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 81,570 | 69,169 | ||
Noncommercial | Construction and land development | ||||
Financing Receivable, Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 2,337 | 0 | ||
Noncommercial | Construction and land development | Non-PCI Loans | ||||
Financing Receivable, Modifications [Line Items] | ||||
Allowance for loan and lease losses | 2,350 | 3,962 | 1,596 | 1,485 |
Nonaccruing | 1,823 | 1,989 | ||
Noncommercial | Mortgage | ||||
Financing Receivable, Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 47,524 | 43,542 | ||
Noncommercial | Mortgage | Non-PCI Loans | ||||
Financing Receivable, Modifications [Line Items] | ||||
Allowance for loan and lease losses | 15,472 | 15,706 | 14,447 | 14,105 |
Nonaccruing | 35,662 | 38,942 | ||
Noncommercial | Other | Non-PCI Loans | ||||
Financing Receivable, Modifications [Line Items] | ||||
Nonaccruing | 279 | 164 | ||
Noncommercial | Revolving mortgage | ||||
Financing Receivable, Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 28,688 | 22,853 | ||
Noncommercial | Revolving mortgage | Non-PCI Loans | ||||
Financing Receivable, Modifications [Line Items] | ||||
Allowance for loan and lease losses | 21,862 | 22,436 | $ 21,013 | $ 15,971 |
Nonaccruing | 25,563 | 19,990 | ||
Noncommercial | Consumer and Other | ||||
Financing Receivable, Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 3,021 | 2,774 | ||
Performing Financial Instruments [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 127,093 | 130,391 | ||
Performing Financial Instruments [Member] | Commercial | ||||
Financing Receivable, Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 64,171 | 76,300 | ||
Performing Financial Instruments [Member] | Commercial | Construction and land development | ||||
Financing Receivable, Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 1,946 | 4,089 | ||
Performing Financial Instruments [Member] | Commercial | Mortgage | ||||
Financing Receivable, Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 53,270 | 62,358 | ||
Performing Financial Instruments [Member] | Commercial | Other commercial real estate | ||||
Financing Receivable, Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 851 | 1,012 | ||
Performing Financial Instruments [Member] | Commercial | Commercial and industrial | ||||
Financing Receivable, Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 7,986 | 8,320 | ||
Performing Financial Instruments [Member] | Commercial | Other | ||||
Financing Receivable, Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 118 | 521 | ||
Performing Financial Instruments [Member] | Noncommercial | ||||
Financing Receivable, Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 62,922 | 54,091 | ||
Performing Financial Instruments [Member] | Noncommercial | Construction and land development | ||||
Financing Receivable, Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 2,227 | 0 | ||
Performing Financial Instruments [Member] | Noncommercial | Mortgage | ||||
Financing Receivable, Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 37,903 | 34,067 | ||
Performing Financial Instruments [Member] | Noncommercial | Revolving mortgage | ||||
Financing Receivable, Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 20,492 | 17,673 | ||
Performing Financial Instruments [Member] | Noncommercial | Consumer and Other | ||||
Financing Receivable, Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 2,300 | 2,351 | ||
Nonperforming Financial Instruments [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Nonaccruing | 29,037 | 34,170 | ||
Nonperforming Financial Instruments [Member] | Commercial | ||||
Financing Receivable, Modifications [Line Items] | ||||
Nonaccruing | 10,389 | 19,092 | ||
Nonperforming Financial Instruments [Member] | Commercial | Construction and land development | ||||
Financing Receivable, Modifications [Line Items] | ||||
Nonaccruing | 352 | 483 | ||
Nonperforming Financial Instruments [Member] | Commercial | Mortgage | ||||
Financing Receivable, Modifications [Line Items] | ||||
Nonaccruing | 7,795 | 15,863 | ||
Nonperforming Financial Instruments [Member] | Commercial | Other commercial real estate | ||||
Financing Receivable, Modifications [Line Items] | ||||
Nonaccruing | 9 | 788 | ||
Nonperforming Financial Instruments [Member] | Commercial | Commercial and industrial | ||||
Financing Receivable, Modifications [Line Items] | ||||
Nonaccruing | 2,060 | 1,958 | ||
Nonperforming Financial Instruments [Member] | Commercial | Other | ||||
Financing Receivable, Modifications [Line Items] | ||||
Nonaccruing | 173 | 0 | ||
Nonperforming Financial Instruments [Member] | Noncommercial | ||||
Financing Receivable, Modifications [Line Items] | ||||
Nonaccruing | 18,648 | 15,078 | ||
Nonperforming Financial Instruments [Member] | Noncommercial | Construction and land development | ||||
Financing Receivable, Modifications [Line Items] | ||||
Nonaccruing | 110 | 0 | ||
Nonperforming Financial Instruments [Member] | Noncommercial | Mortgage | ||||
Financing Receivable, Modifications [Line Items] | ||||
Nonaccruing | 9,621 | 9,475 | ||
Nonperforming Financial Instruments [Member] | Noncommercial | Revolving mortgage | ||||
Financing Receivable, Modifications [Line Items] | ||||
Nonaccruing | 8,196 | 5,180 | ||
Nonperforming Financial Instruments [Member] | Noncommercial | Consumer and Other | ||||
Financing Receivable, Modifications [Line Items] | ||||
Nonaccruing | $ 721 | $ 423 | ||
Extended Maturity [Member] | Non-PCI Loans | ||||
Financing Receivable, Modifications [Line Items] | ||||
Financing Receivable, Modifications, Number of Contracts | loans | 42 | 47 | ||
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 5,486 | $ 6,517 | ||
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans | 8 | 2 | ||
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 865 | $ 273 | ||
Extended Maturity [Member] | Commercial | Non-PCI Loans | ||||
Financing Receivable, Modifications [Line Items] | ||||
Financing Receivable, Modifications, Number of Contracts | loans | 21 | 13 | ||
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 3,933 | $ 3,007 | ||
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans | 4 | 0 | ||
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 675 | $ 0 | ||
Extended Maturity [Member] | Noncommercial | Non-PCI Loans | ||||
Financing Receivable, Modifications [Line Items] | ||||
Financing Receivable, Modifications, Number of Contracts | loans | 21 | 34 | ||
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 1,554 | $ 3,510 | ||
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans | 4 | 2 | ||
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 190 | $ 273 | ||
Interest Rate Below Market Reduction [Member] | Non-PCI Loans | ||||
Financing Receivable, Modifications [Line Items] | ||||
Financing Receivable, Modifications, Number of Contracts | loans | 269 | 363 | ||
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 28,404 | $ 30,412 | ||
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans | 92 | 110 | ||
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 8,459 | $ 7,983 | ||
Interest Rate Below Market Reduction [Member] | Commercial | Non-PCI Loans | ||||
Financing Receivable, Modifications [Line Items] | ||||
Financing Receivable, Modifications, Number of Contracts | loans | 85 | 92 | ||
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 12,859 | $ 14,811 | ||
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans | 24 | 32 | ||
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 2,998 | $ 3,392 | ||
Interest Rate Below Market Reduction [Member] | Noncommercial | Non-PCI Loans | ||||
Financing Receivable, Modifications [Line Items] | ||||
Financing Receivable, Modifications, Number of Contracts | loans | 184 | 271 | ||
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 15,545 | $ 15,601 | ||
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans | 68 | 78 | ||
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 5,461 | $ 4,591 | ||
Discharge of Debt [Member] | Non-PCI Loans | ||||
Financing Receivable, Modifications [Line Items] | ||||
Financing Receivable, Modifications, Number of Contracts | loans | 177 | 216 | ||
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 8,660 | $ 10,865 | ||
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans | 64 | 91 | ||
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 3,994 | $ 3,100 | ||
Discharge of Debt [Member] | Commercial | Non-PCI Loans | ||||
Financing Receivable, Modifications [Line Items] | ||||
Financing Receivable, Modifications, Number of Contracts | loans | 26 | 39 | ||
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 2,043 | $ 3,012 | ||
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans | 8 | 26 | ||
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 825 | $ 708 | ||
Discharge of Debt [Member] | Noncommercial | Non-PCI Loans | ||||
Financing Receivable, Modifications [Line Items] | ||||
Financing Receivable, Modifications, Number of Contracts | loans | 151 | 177 | ||
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 6,617 | $ 7,853 | ||
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans | 56 | 65 | ||
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 3,169 | $ 2,392 | ||
Principal Forgiveness [Member] | Non-PCI Loans | ||||
Financing Receivable, Modifications [Line Items] | ||||
Financing Receivable, Modifications, Number of Contracts | loans | 3 | 6 | ||
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 1,003 | $ 1,206 | ||
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans | 0 | 1 | ||
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 0 | $ 634 | ||
Principal Forgiveness [Member] | Commercial | Non-PCI Loans | ||||
Financing Receivable, Modifications [Line Items] | ||||
Financing Receivable, Modifications, Number of Contracts | loans | 3 | 5 | ||
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 1,003 | $ 1,124 | ||
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans | 0 | 1 | ||
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 0 | $ 634 | ||
Principal Forgiveness [Member] | Noncommercial | Non-PCI Loans | ||||
Financing Receivable, Modifications [Line Items] | ||||
Financing Receivable, Modifications, Number of Contracts | loans | 0 | 1 | ||
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 0 | $ 82 | ||
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans | 0 | 0 | ||
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 0 | $ 0 |
Allowance for Loan and Lease _6
Allowance for Loan and Lease Losses (Note Restructurings During Period) (Details) $ in Thousands | 12 Months Ended | |
Dec. 31, 2018USD ($)loans | Dec. 31, 2017USD ($)loans | |
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable, Modifications, Recorded Investment | $ 156,130 | $ 164,561 |
Commercial | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable, Modifications, Recorded Investment | 74,560 | 95,392 |
Commercial | Construction and land development | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable, Modifications, Recorded Investment | 2,298 | 4,572 |
Commercial | Mortgage | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable, Modifications, Recorded Investment | 61,065 | 78,221 |
Commercial | Other commercial real estate | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable, Modifications, Recorded Investment | 860 | 1,800 |
Commercial | Commercial and industrial | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable, Modifications, Recorded Investment | 10,046 | 10,278 |
Commercial | Other | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable, Modifications, Recorded Investment | 291 | 521 |
Noncommercial | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable, Modifications, Recorded Investment | 81,570 | 69,169 |
Noncommercial | Construction and land development | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable, Modifications, Recorded Investment | 2,337 | 0 |
Noncommercial | Mortgage | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable, Modifications, Recorded Investment | 47,524 | 43,542 |
Noncommercial | Revolving mortgage | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable, Modifications, Recorded Investment | 28,688 | 22,853 |
Non-PCI Loans | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable, Modifications, Recorded Investment | $ 137,910 | $ 146,126 |
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans | 164 | 204 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 13,318 | $ 11,990 |
Financing Receivable, Modifications, Number of Contracts | loans | 491 | 632 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 43,553 | $ 49,000 |
PCI Loans | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable, Modifications, Recorded Investment | $ 18,220 | $ 18,435 |
Principal Forgiveness [Member] | Non-PCI Loans | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans | 0 | 1 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 0 | $ 634 |
Financing Receivable, Modifications, Number of Contracts | loans | 3 | 6 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 1,003 | $ 1,206 |
Principal Forgiveness [Member] | Non-PCI Loans | Commercial | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans | 0 | 1 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 0 | $ 634 |
Financing Receivable, Modifications, Number of Contracts | loans | 3 | 5 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 1,003 | $ 1,124 |
Principal Forgiveness [Member] | Non-PCI Loans | Noncommercial | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans | 0 | 0 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 0 | $ 0 |
Financing Receivable, Modifications, Number of Contracts | loans | 0 | 1 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 0 | $ 82 |
Extended Maturity [Member] | Non-PCI Loans | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans | 8 | 2 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 865 | $ 273 |
Financing Receivable, Modifications, Number of Contracts | loans | 42 | 47 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 5,486 | $ 6,517 |
Extended Maturity [Member] | Non-PCI Loans | Commercial | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans | 4 | 0 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 675 | $ 0 |
Financing Receivable, Modifications, Number of Contracts | loans | 21 | 13 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 3,933 | $ 3,007 |
Extended Maturity [Member] | Non-PCI Loans | Noncommercial | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans | 4 | 2 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 190 | $ 273 |
Financing Receivable, Modifications, Number of Contracts | loans | 21 | 34 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 1,554 | $ 3,510 |
Interest Rate Below Market Reduction [Member] | Non-PCI Loans | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans | 92 | 110 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 8,459 | $ 7,983 |
Financing Receivable, Modifications, Number of Contracts | loans | 269 | 363 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 28,404 | $ 30,412 |
Interest Rate Below Market Reduction [Member] | Non-PCI Loans | Commercial | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans | 24 | 32 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 2,998 | $ 3,392 |
Financing Receivable, Modifications, Number of Contracts | loans | 85 | 92 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 12,859 | $ 14,811 |
Interest Rate Below Market Reduction [Member] | Non-PCI Loans | Noncommercial | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans | 68 | 78 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 5,461 | $ 4,591 |
Financing Receivable, Modifications, Number of Contracts | loans | 184 | 271 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 15,545 | $ 15,601 |
Discharge of Debt [Member] | Non-PCI Loans | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans | 64 | 91 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 3,994 | $ 3,100 |
Financing Receivable, Modifications, Number of Contracts | loans | 177 | 216 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 8,660 | $ 10,865 |
Discharge of Debt [Member] | Non-PCI Loans | Commercial | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans | 8 | 26 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 825 | $ 708 |
Financing Receivable, Modifications, Number of Contracts | loans | 26 | 39 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 2,043 | $ 3,012 |
Discharge of Debt [Member] | Non-PCI Loans | Noncommercial | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans | 56 | 65 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 3,169 | $ 2,392 |
Financing Receivable, Modifications, Number of Contracts | loans | 151 | 177 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 6,617 | $ 7,853 |
Premises and Equipment (Major C
Premises and Equipment (Major Classifications) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Property, Plant and Equipment [Line Items] | |||
Property, Plant and Equipment, Gross | $ 2,096,239 | $ 1,938,756 | |
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment | 892,060 | 800,325 | |
Property, Plant and Equipment, Net | 1,204,179 | 1,138,431 | |
Depreciation | 96,781 | 90,804 | $ 88,777 |
Land | |||
Property, Plant and Equipment [Line Items] | |||
Property, Plant and Equipment, Gross | 306,734 | 290,990 | |
Premises and leasehold improvements | |||
Property, Plant and Equipment [Line Items] | |||
Property, Plant and Equipment, Gross | 1,228,582 | 1,158,699 | |
Furniture and equipment | |||
Property, Plant and Equipment [Line Items] | |||
Property, Plant and Equipment, Gross | $ 560,923 | $ 489,067 |
Premises and Equipment (Operati
Premises and Equipment (Operating Leases) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Property, Plant and Equipment [Abstract] | |||
2,019 | $ 18,058 | ||
2,020 | 16,377 | ||
2,021 | 14,564 | ||
2,022 | 12,381 | ||
2,023 | 10,434 | ||
Thereafter | 38,494 | ||
Total minimum payments | 110,308 | ||
Rent expense, net | 15,500 | $ 15,200 | $ 13,000 |
Rent income | $ 7,800 | $ 6,600 | $ 6,500 |
Other Real Estate Owned (Detail
Other Real Estate Owned (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Real Estate Properties [Line Items] | ||
Mortgage Loans in Process of Foreclosure, Amount | $ 22,000 | $ 26,900 |
Total | ||
Beginning balance | 51,097 | 61,231 |
Additions | 24,997 | 34,980 |
Sales | (28,128) | (40,709) |
Write-downs | (4,390) | (4,460) |
Ending balance | 48,030 | 51,097 |
Guaranty Bank | ||
Total | ||
Additions | 55 | |
HomeBancorp | ||
Total | ||
Additions | 2,135 | |
Palmetto Heritage Bancshares | ||
Total | ||
Additions | 2,319 | |
Mortgage | ||
Total | ||
Beginning balance | 19,800 | |
Ending balance | $ 17,200 | $ 19,800 |
FDIC Shared-Loss Payable (Chang
FDIC Shared-Loss Payable (Changes in Receivable from FDIC) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2018 | |
FDIC Shared-Loss Receivable [Abstract] | |||
Loans and Leases Receivable, Gross, Carrying Amount, Covered | $ 55,600 | ||
FDIC shared-loss payable | $ 101,342 | $ 97,008 | $ 105,618 |
FDIC Indemnification Asset [Roll Forward] | |||
Beginning balance | 101,342 | 97,008 | |
Accretion | 4,023 | 3,851 | |
Adjustments related to changes in assumptions | 253 | 483 | |
Ending balance | $ 105,618 | $ 101,342 |
Deposits (Details)
Deposits (Details) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
Deposits [Abstract] | ||
FDIC Deposit Insurance Limit | $ 250 | |
Time Deposits Greater than $250,000, Carrying Value | 567,300 | $ 414,000 |
Deposits, by Type [Abstract] | ||
Demand | 11,882,670 | 11,237,375 |
Checking with interest | 5,338,511 | 5,230,060 |
Money market accounts | 8,194,818 | 8,059,271 |
Savings | 2,499,750 | 2,340,449 |
Time | 2,756,711 | 2,399,120 |
Total deposits | 30,672,460 | $ 29,266,275 |
Maturities of Time Deposits [Abstract] | ||
2,019 | 1,895,313 | |
2,020 | 518,504 | |
2,021 | 115,643 | |
2,022 | 194,413 | |
2,023 | 32,838 | |
Thereafter | $ 0 |
Short-Term Borrowings (Details)
Short-Term Borrowings (Details) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
Short-term Debt [Line Items] | ||
Short-term borrowings | $ 572,287 | $ 693,807 |
Federal Home Loan Bank And Federal Reserve Bank Amount Of Available Unused Funds | 8,380,000 | |
Repurchase Agreements [Member] | ||
Short-term Debt [Line Items] | ||
Short-term borrowings | 543,936 | 586,171 |
Federal Home Loan Bank Advances [Member] | ||
Short-term Debt [Line Items] | ||
Short-term borrowings | 28,500 | 90,000 |
Federal Funds Purchased [Member] | ||
Short-term Debt [Line Items] | ||
Short-term borrowings | 0 | 2,551 |
Subordinated Debt Obligations [Member] | ||
Short-term Debt [Line Items] | ||
Short-term borrowings | 0 | 15,000 |
Unamortized Purchase Accounting Adjustments [Member] | ||
Short-term Debt [Line Items] | ||
Short-term borrowings | (149) | $ 85 |
Unsecured Debt [Member] | ||
Short-term Debt [Line Items] | ||
Line of Credit Facility, Remaining Borrowing Capacity | $ 690,000 |
Repurchase Agreements (Details)
Repurchase Agreements (Details) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
Assets Sold under Agreements to Repurchase [Line Items] | ||
Securities Sold under Agreements to Repurchase, Fair Value of Collateral | $ 598,561 | $ 684,181 |
U. S. Treasury | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Securities Sold under Agreements to Repurchase | 586,171 | |
U. S. Treasury | Overnight and Continuous | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Securities Sold under Agreements to Repurchase | $ 543,936 | 556,171 |
U. S. Treasury | 30 - 90 Days | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Securities Sold under Agreements to Repurchase | $ 30,000 |
Long-Term Obligations (Details)
Long-Term Obligations (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Long-term Debt, Fiscal Year Maturity [Abstract] | ||
2,019 | $ 10,000 | |
2,020 | 12,693 | |
2,021 | 14,732 | |
2,022 | 13,754 | |
2,023 | 125,500 | |
Thereafter | 143,188 | |
Total long-term obligations | 319,867 | $ 870,240 |
Trust Preferred Securities | 118,500 | 116,500 |
Junior Subordinated Debt [Member] | ||
Long-term Debt, Fiscal Year Maturity [Abstract] | ||
Total long-term obligations | 122,167 | 120,105 |
Junior Subordinated Debt [Member] | Junior subordinated debenture at 3-month LIBOR plus 1.75 percent maturing June 30, 2036 | ||
Long-term Debt, Fiscal Year Maturity [Abstract] | ||
Total long-term obligations | $ 88,145 | 90,207 |
Junior Subordinated Debt [Member] | Junior subordinated debenture at 3-month LIBOR plus 1.75 percent maturing June 30, 2036 | Libor 3 Month Rate [Member] | ||
Debt Instrument [Line Items] | ||
Description of variable rate basis | 3-month LIBOR | |
Basis spread on variable rate | 1.75% | |
Junior Subordinated Debt [Member] | Junior subordinated debenture at 3-month LIBOR plus 2.25 percent maturing June 15, 2034 | ||
Long-term Debt, Fiscal Year Maturity [Abstract] | ||
Total long-term obligations | $ 19,588 | 19,588 |
Junior Subordinated Debt [Member] | Junior subordinated debenture at 3-month LIBOR plus 2.25 percent maturing June 15, 2034 | Libor 3 Month Rate [Member] | ||
Debt Instrument [Line Items] | ||
Description of variable rate basis | 3-month LIBOR | |
Basis spread on variable rate | 2.25% | |
Junior Subordinated Debt [Member] | Junior subordinated debenture at 3-month LIBOR plus 2.85 percent maturing April 7, 2034 | ||
Long-term Debt, Fiscal Year Maturity [Abstract] | ||
Total long-term obligations | $ 10,310 | 10,310 |
Junior Subordinated Debt [Member] | Junior subordinated debenture at 3-month LIBOR plus 2.85 percent maturing April 7, 2034 | Libor 3 Month Rate [Member] | ||
Debt Instrument [Line Items] | ||
Description of variable rate basis | 3-month LIBOR | |
Basis spread on variable rate | 2.85% | |
Junior Subordinated Debt [Member] | Junior subordinated debenture at 3-month LIBOR plus 2.00 percent maturing July 7, 2036 | ||
Long-term Debt, Fiscal Year Maturity [Abstract] | ||
Total long-term obligations | $ 4,124 | 0 |
Junior Subordinated Debt [Member] | Junior subordinated debenture at 3-month LIBOR plus 2.00 percent maturing July 7, 2036 | Libor 3 Month Rate [Member] | ||
Debt Instrument [Line Items] | ||
Description of variable rate basis | 3-month LIBOR | |
Basis spread on variable rate | 2.00% | |
Junior Subordinated Debt [Member] | Junior subordinated debentures at 7.00 percent maturing December 31, 2026 | Libor 3 Month Rate [Member] | ||
Debt Instrument [Line Items] | ||
Debt interest rate | 7.00% | |
Capital Lease Obligations [Member] | ||
Long-term Debt, Fiscal Year Maturity [Abstract] | ||
Total long-term obligations | $ 13,160 | 7,795 |
Federal Home Loan Bank Advances [Member] | Notes payable to Federal Home Loan Bank of Atlanta with rates ranging from 1.64 percent to 3.06 percent and maturing through August 2023 | ||
Long-term Debt, Fiscal Year Maturity [Abstract] | ||
Total long-term obligations | $ 165,205 | 745,221 |
Federal Home Loan Bank Advances [Member] | Notes payable to Federal Home Loan Bank of Atlanta with rates ranging from 1.64 percent to 3.06 percent and maturing through August 2023 | Minimum | ||
Debt Instrument [Line Items] | ||
Debt interest rate | 1.64% | |
Federal Home Loan Bank Advances [Member] | Notes payable to Federal Home Loan Bank of Atlanta with rates ranging from 1.64 percent to 3.06 percent and maturing through August 2023 | Maximum | ||
Debt Instrument [Line Items] | ||
Debt interest rate | 3.06% | |
Subordinated Debt [Member] | Junior subordinated debentures at 7.00 percent maturing December 31, 2026 | ||
Long-term Debt, Fiscal Year Maturity [Abstract] | ||
Total long-term obligations | $ 20,000 | 0 |
Unamortized Purchase Accounting Adjustments [Member] | ||
Long-term Debt, Fiscal Year Maturity [Abstract] | ||
Total long-term obligations | (1,426) | (2,964) |
Other Long Term Debt [Member] | ||
Long-term Debt, Fiscal Year Maturity [Abstract] | ||
Total long-term obligations | $ 761 | $ 83 |
Estimated Fair Values (Narrativ
Estimated Fair Values (Narrative) (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Asset transfers between Level 1 and Level 2 | $ 0 | |
Asset transfers between Level 2 and Level 1 | 0 | |
Liability transfers between Level 1 and Level 2 | ||
Liability transfers between Level 2 and Level 1 | $ 0 | |
Minimum | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Effective Interest Rate For Discounted Cash Flow | 2.00% | |
Discounts for collateral value estimates due to estimated holding and selling costs (percent) | 6.00% | 6.00% |
Minimum | Discount Rate | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Loans held-for-sale, measurement input | 6 | |
OREO, measurement input | 6 | |
Minimum | Effective Interest Rate | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Loans held-for-sale, measurement input | 1 | |
Maximum | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Effective Interest Rate For Discounted Cash Flow | 18.00% | |
Discounts for collateral value estimates due to estimated holding and selling costs (percent) | 11.00% | 11.00% |
Maximum | Discount Rate | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Loans held-for-sale, measurement input | 11 | |
OREO, measurement input | 11 | |
Maximum | Effective Interest Rate | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Loans held-for-sale, measurement input | 14 | |
Fair Value, Measurements, Recurring | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Liability measured at fair value on nonrecurring basis | $ 0 | |
Fair Value, Measurements, Nonrecurring | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Liability measured at fair value on nonrecurring basis | $ 0 | |
Corporate Bond Securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Transfers from Level 2 to Level 3 | 59,700 | |
Other Debt Obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Transfers from Level 2 to Level 3 | $ 5,600 |
Estimated Fair Values (Estimate
Estimated Fair Values (Estimated Fair Values For Certain Financial Assets And Financial Liabilities) (Details) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||
Cash and due from banks | $ 327,440 | $ 336,150 | |
Overnight investments | 797,406 | 1,387,927 | |
Investment securities available for sale | 4,557,110 | 7,180,180 | |
Investment securities held to maturity | 2,184,653 | 76 | |
Investment in marketable equity securities | 92,599 | 0 | |
Net loans and leases | 25,299,564 | 23,374,932 | |
Income earned not collected | 109,903 | 95,249 | |
Preferred stock | 0 | 0 | |
Deposits | 30,672,460 | 29,266,275 | |
Short-term borrowings | 572,287 | 693,807 | |
Long-term obligations | 319,867 | 870,240 | |
FDIC shared-loss payable | 105,618 | 101,342 | $ 97,008 |
Carrying Value | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||
Cash and due from banks | 327,440 | 336,150 | |
Overnight investments | 797,406 | 1,387,927 | |
Investment securities available for sale | 4,557,110 | 7,180,180 | |
Investment securities held to maturity | 2,184,653 | 76 | |
Investment in marketable equity securities | 92,599 | 0 | |
Loans held for sale | 45,505 | 51,179 | |
Net loans and leases | 25,299,564 | 23,374,932 | |
Income earned not collected | 109,903 | 95,249 | |
Federal Home Loan Bank stock | 25,304 | 52,685 | |
Mortgage servicing assets | 24,066 | 21,945 | |
Deposits | 30,672,460 | 29,266,275 | |
Short-term borrowings | 572,287 | 693,807 | |
Long-term obligations | 319,867 | 870,240 | |
FDIC shared-loss payable | 105,618 | 101,342 | |
Accrued interest payable | 3,712 | 3,952 | |
Fair Value | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||
Cash and due from banks | 327,440 | 336,150 | |
Overnight investments | 797,406 | 1,387,927 | |
Investment securities available for sale | 4,557,110 | 7,180,180 | |
Investment securities held to maturity | 2,201,502 | 81 | |
Investment in marketable equity securities | 92,599 | 0 | |
Loans held for sale | 45,505 | 51,179 | |
Net loans and leases | 24,845,060 | 22,257,803 | |
Income earned not collected | 109,903 | 95,249 | |
Federal Home Loan Bank stock | 25,304 | 52,685 | |
Mortgage servicing assets | 29,532 | 26,170 | |
Deposits | 30,623,214 | 29,230,768 | |
Short-term borrowings | 572,287 | 693,807 | |
Long-term obligations | 332,678 | 852,112 | |
FDIC shared-loss payable | 105,846 | 102,684 | |
Accrued interest payable | $ 3,712 | $ 3,952 |
Estimated Fair Values (Assets A
Estimated Fair Values (Assets And Liabilities Carried At Fair Value On A Recurring Basis) (Details) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment securities available for sale | $ 4,557,110 | $ 7,180,180 |
Loans held for sale | 45,505 | 51,179 |
Fair Value, Measurements, Recurring | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment securities available for sale | 4,557,110 | 7,180,180 |
Loans held for sale | 45,505 | 51,179 |
Fair Value, Measurements, Recurring | Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 1 Inputs) | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment securities available for sale | 0 | 19,341 |
Loans held for sale | 0 | 0 |
Fair Value, Measurements, Recurring | Quoted Prices for Similar Assets and Liabilities (Level 2 Inputs) | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment securities available for sale | 4,413,884 | 7,160,839 |
Loans held for sale | 45,505 | 51,179 |
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment securities available for sale | 143,226 | 0 |
Loans held for sale | 0 | 0 |
Fair Value, Measurements, Recurring | U.S. Treasury | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment securities available for sale | 1,247,710 | 1,657,864 |
Fair Value, Measurements, Recurring | U.S. Treasury | Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 1 Inputs) | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment securities available for sale | 0 | 0 |
Fair Value, Measurements, Recurring | U.S. Treasury | Quoted Prices for Similar Assets and Liabilities (Level 2 Inputs) | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment securities available for sale | 1,247,710 | 1,657,864 |
Fair Value, Measurements, Recurring | U.S. Treasury | Fair Value, Inputs, Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment securities available for sale | 0 | 0 |
Fair Value, Measurements, Recurring | Government Agency | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment securities available for sale | 256,835 | 8,670 |
Fair Value, Measurements, Recurring | Government Agency | Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 1 Inputs) | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment securities available for sale | 0 | 0 |
Fair Value, Measurements, Recurring | Government Agency | Quoted Prices for Similar Assets and Liabilities (Level 2 Inputs) | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment securities available for sale | 256,835 | 8,670 |
Fair Value, Measurements, Recurring | Government Agency | Fair Value, Inputs, Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment securities available for sale | 0 | 0 |
Fair Value, Measurements, Recurring | Mortgage Backed Securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment securities available for sale | 2,909,339 | 5,340,756 |
Fair Value, Measurements, Recurring | Mortgage Backed Securities | Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 1 Inputs) | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment securities available for sale | 0 | 0 |
Fair Value, Measurements, Recurring | Mortgage Backed Securities | Quoted Prices for Similar Assets and Liabilities (Level 2 Inputs) | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment securities available for sale | 2,909,339 | 5,340,756 |
Fair Value, Measurements, Recurring | Mortgage Backed Securities | Fair Value, Inputs, Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment securities available for sale | 0 | 0 |
Fair Value, Measurements, Recurring | Other Debt Obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment securities available for sale | 4,125 | 7,719 |
Fair Value, Measurements, Recurring | Other Debt Obligations | Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 1 Inputs) | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment securities available for sale | 0 | 0 |
Fair Value, Measurements, Recurring | Other Debt Obligations | Quoted Prices for Similar Assets and Liabilities (Level 2 Inputs) | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment securities available for sale | 0 | 7,719 |
Fair Value, Measurements, Recurring | Other Debt Obligations | Fair Value, Inputs, Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment securities available for sale | 4,125 | 0 |
Fair Value, Measurements, Recurring | Equity Securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment securities available for sale | 92,599 | 105,208 |
Fair Value, Measurements, Recurring | Equity Securities | Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 1 Inputs) | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment securities available for sale | 17,887 | 19,341 |
Fair Value, Measurements, Recurring | Equity Securities | Quoted Prices for Similar Assets and Liabilities (Level 2 Inputs) | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment securities available for sale | 74,712 | 85,867 |
Fair Value, Measurements, Recurring | Equity Securities | Fair Value, Inputs, Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment securities available for sale | 0 | 0 |
Fair Value, Measurements, Recurring | Corporate Bonds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment securities available for sale | 139,101 | 59,963 |
Fair Value, Measurements, Recurring | Corporate Bonds | Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 1 Inputs) | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment securities available for sale | 0 | 0 |
Fair Value, Measurements, Recurring | Corporate Bonds | Quoted Prices for Similar Assets and Liabilities (Level 2 Inputs) | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment securities available for sale | 0 | 59,963 |
Fair Value, Measurements, Recurring | Corporate Bonds | Fair Value, Inputs, Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment securities available for sale | $ 139,101 | $ 0 |
Estimated Fair Values (Assets_2
Estimated Fair Values (Assets and Liabilities Carried at Fair Value on a Recurring Basis Significant Unobservable Inputs) (Details) $ in Thousands | 12 Months Ended |
Dec. 31, 2018USD ($) | |
Corporate bonds | |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | |
Balance at January 1, 2018 | $ 0 |
Transfers in | 59,653 |
Amounts included in net income | 169 |
Unrealized net (losses) gains included in other comprehensive income | (1,043) |
Acquisition | 82,727 |
Sales / Calls | 2,405 |
Balance at December 31, 2018 | 139,101 |
Investment securities available for sale | 0 |
Other | |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | |
Balance at January 1, 2018 | 0 |
Transfers in | 5,618 |
Amounts included in net income | 22 |
Unrealized net (losses) gains included in other comprehensive income | 122 |
Acquisition | 0 |
Sales / Calls | 1,637 |
Balance at December 31, 2018 | 4,125 |
Investment securities available for sale | $ 0 |
Estimated Fair Values (Fair Val
Estimated Fair Values (Fair Value Option) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Fair Value, Option, Quantitative Disclosures [Line Items] | |||
Fair Value, Option, Changes in Fair Value, Gain (Loss) | $ 50 | $ 2,900 | $ (2,400) |
Loans Held For Sale | |||
Fair Value, Option, Quantitative Disclosures [Line Items] | |||
Fair Value Of Items For Which Fair Value Option Was Elected Assets | 45,505 | 51,179 | |
Aggregate Unpaid Principal Balance Of Items For Which Fair Value Option Was Elected Assets | 44,073 | 49,796 | |
Fair Value Option Aggregate Difference Assets | $ 1,432 | $ 1,383 |
Estimated Fair Values (Assets_3
Estimated Fair Values (Assets And Liabilities Carried At Fair Value On A Nonrecurring Basis) (Details) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Other Real Estate | $ 48,030 | $ 51,097 | $ 61,231 |
Fair Value, Measurements, Nonrecurring | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Impaired loans not covered by loss share agreements | 105,994 | 72,539 | |
Other Real Estate | 35,344 | 40,167 | |
Fair Value, Measurements, Nonrecurring | Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 1 Inputs) | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Impaired loans not covered by loss share agreements | 0 | 0 | |
Other Real Estate | 0 | 0 | |
Fair Value, Measurements, Nonrecurring | Quoted Prices for Similar Assets and Liabilities (Level 2 Inputs) | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Impaired loans not covered by loss share agreements | 0 | 0 | |
Other Real Estate | 0 | 0 | |
Fair Value, Measurements, Nonrecurring | Fair Value, Inputs, Level 3 | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Impaired loans not covered by loss share agreements | 105,994 | 72,539 | |
Other Real Estate | $ 35,344 | $ 40,167 |
Employee Benefit Plans (Narrati
Employee Benefit Plans (Narrative) (Details) - USD ($) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2007 | |
Defined Benefit Plan Disclosure [Line Items] | ||||
Deferred Compensation Cash-based Arrangements, Liability, Current and Noncurrent | $ 46,400 | $ 33,400 | ||
Defined Contribution Plan, Cost | $ 28,600 | $ 25,300 | $ 23,500 | |
Percent of employer match | 100.00% | 4.50% | ||
Percentage of employee compensation matched | 6.00% | |||
Additional contribution if employed at end of year | 3.00% | |||
Bancorporation Plan | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Actual % of Plan Assets | 100.00% | 100.00% | ||
Defined Benefit Plan, Accumulated Benefit Obligation | $ 152,344 | $ 157,613 | ||
Assumed discount rate (percent) | 3.76% | 4.30% | 4.68% | |
Assumed rate of salary increases | 4.00% | 4.00% | 4.00% | |
Expected long-term rate of return on plan assets (percent) | 7.50% | 7.50% | 7.50% | |
BancShares Plan | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Actual % of Plan Assets | 100.00% | 100.00% | ||
Defined Benefit Plan, Accumulated Benefit Obligation | $ 626,746 | $ 659,023 | ||
Employer contributions | $ 50,000 | $ 50,000 | ||
Assumed discount rate (percent) | 3.76% | 4.30% | 4.68% | |
Assumed rate of salary increases | 4.00% | 4.00% | 4.00% | |
Expected long-term rate of return on plan assets (percent) | 7.50% | 7.50% | 7.50% | |
Cash and equivalents | Bancorporation Plan | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Actual % of Plan Assets | 1.85% | 2.34% | ||
Cash and equivalents | BancShares Plan | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Actual % of Plan Assets | 2.00% | 9.00% | ||
401(k) Matching Range 2 | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Percent of employer match | 50.00% | |||
Percentage of employee compensation matched | 3.00% | |||
401(k) Matching Range 1 | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Percent of employer match | 100.00% | |||
Percentage of employee compensation matched | 3.00% |
Employee Benefit Plans (Funded
Employee Benefit Plans (Funded Status Of Plans) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Bancorporation Plan | |||
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward] | |||
Benefit obligation at January 1 | $ 169,480 | $ 156,831 | |
Service cost | 2,572 | 2,548 | $ 2,567 |
Interest cost | 6,357 | 6,653 | 6,775 |
Actuarial (gain) loss | (10,268) | 9,168 | |
Benefits paid | (6,081) | (5,720) | |
Benefit obligation at December 31 | 162,060 | 169,480 | 156,831 |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||
Fair value of plan assets, beginning balance | 168,591 | 152,084 | |
Actual return on plan assets | (11,443) | 22,227 | |
Fair value of plan assets, ending balance | 151,067 | 168,591 | 152,084 |
Funded status | (10,993) | (889) | |
Defined Benefit Plan, Benefit Obligation, Benefits Paid | 6,081 | 5,720 | |
BancShares Plan | |||
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward] | |||
Benefit obligation at January 1 | 749,948 | 673,227 | |
Service cost | 13,582 | 12,638 | 12,618 |
Interest cost | 28,376 | 28,940 | 28,892 |
Actuarial (gain) loss | (77,484) | 57,041 | |
Benefits paid | (23,507) | (21,898) | |
Benefit obligation at December 31 | 690,915 | 749,948 | 673,227 |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||
Fair value of plan assets, beginning balance | 712,999 | 600,616 | |
Actual return on plan assets | (48,025) | 84,281 | |
Employer contributions | 50,000 | 50,000 | |
Fair value of plan assets, ending balance | 691,467 | 712,999 | $ 600,616 |
Funded status | 552 | (36,949) | |
Defined Benefit Plan, Benefit Obligation, Benefits Paid | $ 23,507 | $ 21,898 |
Employee Benefit Plans (Amounts
Employee Benefit Plans (Amounts Recognized in the Financial Statements) (Details) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
BancShares Plan | ||
Amounts recognized in the consolidated balance sheets | ||
Other assets | $ 552 | $ 0 |
Other liabilities | 0 | (36,949) |
Net asset (liability) recognized | 552 | (36,949) |
Amount recognized in accumulated other comprehensive income | ||
Net loss (gain) | 130,564 | 125,745 |
Less prior service cost | 57 | 137 |
Accumulated other comprehensive loss, excluding income taxes | 130,621 | 125,882 |
Actuarial loss | 8,455 | |
Prior service cost | 57 | |
Total | 8,512 | |
Bancorporation Plan | ||
Amounts recognized in the consolidated balance sheets | ||
Other assets | 0 | 0 |
Other liabilities | (10,993) | (889) |
Net asset (liability) recognized | (10,993) | (889) |
Amount recognized in accumulated other comprehensive income | ||
Net loss (gain) | 32,409 | 19,117 |
Less prior service cost | 0 | 0 |
Accumulated other comprehensive loss, excluding income taxes | 32,409 | $ 19,117 |
Actuarial loss | 2,505 | |
Prior service cost | 0 | |
Total | $ 2,505 |
Employee Benefit Plans (Net Ben
Employee Benefit Plans (Net Benefit Cost) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||
Total change in pension obligation, net of tax | $ 13,981 | $ 9,720 | $ 7,069 |
BancShares Plan | |||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||
Service cost | 13,582 | 12,638 | 12,618 |
Interest cost | 28,376 | 28,940 | 28,892 |
Expected return on assets | (47,867) | (42,074) | (36,643) |
Amortization of prior service cost | (79) | (210) | (210) |
Amortization of net actuarial loss | 13,589 | 8,855 | 6,859 |
Total pension expense | 7,759 | 8,569 | 11,936 |
Current year actuarial gain (loss) | (18,407) | (14,834) | (56,268) |
Total change in pension obligation, net of tax | 4,739 | 5,769 | 49,199 |
Total recognized in net periodic benefit cost and other comprehensive income | 12,498 | 14,338 | 61,135 |
Bancorporation Plan | |||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||
Service cost | 2,572 | 2,548 | 2,567 |
Interest cost | 6,357 | 6,653 | 6,775 |
Expected return on assets | (12,429) | (11,170) | (11,101) |
Amortization of net actuarial loss | 313 | 655 | 0 |
Total pension expense | (3,187) | (1,314) | (1,759) |
Current year actuarial gain (loss) | (13,605) | 1,889 | (14,157) |
Total change in pension obligation, net of tax | 13,292 | (2,544) | 14,157 |
Total recognized in net periodic benefit cost and other comprehensive income | $ 10,105 | $ (3,858) | $ 12,398 |
Employee Benefit Plans (Assumpt
Employee Benefit Plans (Assumptions Used) (Details) | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
BancShares Plan | |||
Assumptions used to determine the benefit obligations | |||
Discount rate | 4.38% | 3.76% | |
Rate of compensation increase | 5.60% | 4.00% | |
Assumptions used to determine net periodic benefit cost | |||
Discount rate | 3.76% | 4.30% | 4.68% |
Rate of compensation increase | 4.00% | 4.00% | 4.00% |
Expected long-term rate of return on plan assets (percent) | 7.50% | 7.50% | 7.50% |
Bancorporation Plan | |||
Assumptions used to determine the benefit obligations | |||
Discount rate | 4.38% | 3.76% | |
Rate of compensation increase | 5.60% | 4.00% | |
Assumptions used to determine net periodic benefit cost | |||
Discount rate | 3.76% | 4.30% | 4.68% |
Rate of compensation increase | 4.00% | 4.00% | 4.00% |
Expected long-term rate of return on plan assets (percent) | 7.50% | 7.50% | 7.50% |
Employee Benefit Plans (Fair Va
Employee Benefit Plans (Fair Value and Allocation Of Plan Assets) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Bancorporation Plan | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets | $ 151,067 | $ 168,591 | $ 152,084 |
Actual % of Plan Assets | 100.00% | 100.00% | |
Bancorporation Plan | Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 1 Inputs) | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets | $ 115,974 | $ 126,709 | |
Bancorporation Plan | Quoted Prices for Similar Assets and Liabilities (Level 2 Inputs) | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets | 35,093 | 41,882 | |
Bancorporation Plan | Fair Value, Inputs, Level 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets | 0 | 0 | |
Bancorporation Plan | Cash and equivalents | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets | $ 2,793 | $ 3,941 | |
Actual % of Plan Assets | 1.85% | 2.34% | |
Bancorporation Plan | Cash and equivalents | Minimum | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Target Allocation | 0.00% | 0.00% | |
Bancorporation Plan | Cash and equivalents | Maximum | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Target Allocation | 5.00% | 5.00% | |
Bancorporation Plan | Cash and equivalents | Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 1 Inputs) | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets | $ 2,793 | $ 3,941 | |
Bancorporation Plan | Cash and equivalents | Quoted Prices for Similar Assets and Liabilities (Level 2 Inputs) | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets | 0 | 0 | |
Bancorporation Plan | Cash and equivalents | Fair Value, Inputs, Level 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets | 0 | 0 | |
Bancorporation Plan | Equity securities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets | $ 26,639 | $ 26,892 | |
Actual % of Plan Assets | 66.00% | 70.00% | |
Bancorporation Plan | Equity securities | Minimum | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Target Allocation | 30.00% | 30.00% | |
Bancorporation Plan | Equity securities | Maximum | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Target Allocation | 70.00% | 70.00% | |
Bancorporation Plan | Equity securities | Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 1 Inputs) | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets | $ 26,639 | $ 26,892 | |
Bancorporation Plan | Equity securities | Quoted Prices for Similar Assets and Liabilities (Level 2 Inputs) | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets | 0 | 0 | |
Bancorporation Plan | Equity securities | Fair Value, Inputs, Level 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets | $ 0 | $ 0 | |
Bancorporation Plan | Debt Securities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Actual % of Plan Assets | 27.00% | 25.00% | |
Bancorporation Plan | Debt Securities | Minimum | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Target Allocation | 15.00% | 15.00% | |
Bancorporation Plan | Debt Securities | Maximum | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Target Allocation | 45.00% | 45.00% | |
Bancorporation Plan | Equity mutual funds | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets | $ 74,305 | $ 90,466 | |
Bancorporation Plan | Equity mutual funds | Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 1 Inputs) | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets | 73,850 | 84,954 | |
Bancorporation Plan | Equity mutual funds | Quoted Prices for Similar Assets and Liabilities (Level 2 Inputs) | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets | 455 | 5,512 | |
Bancorporation Plan | Equity mutual funds | Fair Value, Inputs, Level 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets | 0 | 0 | |
Bancorporation Plan | US government and government agency securities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets | 13,749 | 15,798 | |
Bancorporation Plan | US government and government agency securities | Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 1 Inputs) | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets | 0 | 0 | |
Bancorporation Plan | US government and government agency securities | Quoted Prices for Similar Assets and Liabilities (Level 2 Inputs) | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets | 13,749 | 15,798 | |
Bancorporation Plan | US government and government agency securities | Fair Value, Inputs, Level 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets | 0 | 0 | |
Bancorporation Plan | Corporate Bonds | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets | 20,889 | 20,572 | |
Bancorporation Plan | Corporate Bonds | Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 1 Inputs) | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets | 0 | 0 | |
Bancorporation Plan | Corporate Bonds | Quoted Prices for Similar Assets and Liabilities (Level 2 Inputs) | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets | 20,889 | 20,572 | |
Bancorporation Plan | Corporate Bonds | Fair Value, Inputs, Level 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets | 0 | 0 | |
Bancorporation Plan | Fixed Income Mutual Funds | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets | 5,748 | 5,163 | |
Bancorporation Plan | Fixed Income Mutual Funds | Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 1 Inputs) | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets | 5,748 | 5,163 | |
Bancorporation Plan | Fixed Income Mutual Funds | Quoted Prices for Similar Assets and Liabilities (Level 2 Inputs) | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets | 0 | 0 | |
Bancorporation Plan | Fixed Income Mutual Funds | Fair Value, Inputs, Level 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets | 0 | 0 | |
Bancorporation Plan | Alternative investments | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets | $ 6,944 | $ 5,759 | |
Actual % of Plan Assets | 5.00% | 3.00% | |
Bancorporation Plan | Alternative investments | Minimum | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Target Allocation | 0.00% | 0.00% | |
Bancorporation Plan | Alternative investments | Maximum | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Target Allocation | 30.00% | 30.00% | |
Bancorporation Plan | Alternative investments | Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 1 Inputs) | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets | $ 6,944 | $ 5,759 | |
Bancorporation Plan | Alternative investments | Quoted Prices for Similar Assets and Liabilities (Level 2 Inputs) | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets | 0 | 0 | |
Bancorporation Plan | Alternative investments | Fair Value, Inputs, Level 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets | 0 | 0 | |
BancShares Plan | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets | $ 691,467 | $ 712,999 | $ 600,616 |
Actual % of Plan Assets | 100.00% | 100.00% | |
Employer contributions | $ 50,000 | $ 50,000 | |
BancShares Plan | Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 1 Inputs) | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets | 504,684 | 547,193 | |
BancShares Plan | Quoted Prices for Similar Assets and Liabilities (Level 2 Inputs) | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets | 186,783 | 165,806 | |
BancShares Plan | Fair Value, Inputs, Level 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets | 0 | 0 | |
BancShares Plan | Cash and equivalents | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets | $ 16,236 | $ 67,084 | |
Actual % of Plan Assets | 2.00% | 9.00% | |
BancShares Plan | Cash and equivalents | Minimum | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Target Allocation | 0.00% | 0.00% | |
BancShares Plan | Cash and equivalents | Maximum | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Target Allocation | 5.00% | 5.00% | |
BancShares Plan | Cash and equivalents | Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 1 Inputs) | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets | $ 16,236 | $ 67,084 | |
BancShares Plan | Cash and equivalents | Quoted Prices for Similar Assets and Liabilities (Level 2 Inputs) | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets | 0 | 0 | |
BancShares Plan | Cash and equivalents | Fair Value, Inputs, Level 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets | 0 | 0 | |
BancShares Plan | Equity securities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets | $ 117,300 | $ 76,920 | |
Actual % of Plan Assets | 64.00% | 65.00% | |
BancShares Plan | Equity securities | Minimum | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Target Allocation | 30.00% | 30.00% | |
BancShares Plan | Equity securities | Maximum | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Target Allocation | 70.00% | 70.00% | |
BancShares Plan | Equity securities | Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 1 Inputs) | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets | $ 117,300 | $ 76,920 | |
BancShares Plan | Equity securities | Quoted Prices for Similar Assets and Liabilities (Level 2 Inputs) | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets | 0 | 0 | |
BancShares Plan | Equity securities | Fair Value, Inputs, Level 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets | $ 0 | $ 0 | |
BancShares Plan | Debt Securities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Actual % of Plan Assets | 30.00% | 23.00% | |
BancShares Plan | Debt Securities | Minimum | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Target Allocation | 15.00% | 15.00% | |
BancShares Plan | Debt Securities | Maximum | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Target Allocation | 45.00% | 45.00% | |
BancShares Plan | Equity mutual funds | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets | $ 321,023 | $ 381,747 | |
BancShares Plan | Equity mutual funds | Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 1 Inputs) | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets | 319,254 | 360,175 | |
BancShares Plan | Equity mutual funds | Quoted Prices for Similar Assets and Liabilities (Level 2 Inputs) | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets | 1,769 | 21,572 | |
BancShares Plan | Equity mutual funds | Fair Value, Inputs, Level 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets | 0 | 0 | |
BancShares Plan | US government and government agency securities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets | 65,545 | 60,663 | |
BancShares Plan | US government and government agency securities | Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 1 Inputs) | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets | 0 | 0 | |
BancShares Plan | US government and government agency securities | Quoted Prices for Similar Assets and Liabilities (Level 2 Inputs) | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets | 65,545 | 60,663 | |
BancShares Plan | US government and government agency securities | Fair Value, Inputs, Level 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets | 0 | 0 | |
BancShares Plan | Corporate Bonds | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets | 119,469 | 83,571 | |
BancShares Plan | Corporate Bonds | Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 1 Inputs) | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets | 0 | 0 | |
BancShares Plan | Corporate Bonds | Quoted Prices for Similar Assets and Liabilities (Level 2 Inputs) | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets | 119,469 | 83,571 | |
BancShares Plan | Corporate Bonds | Fair Value, Inputs, Level 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets | 0 | 0 | |
BancShares Plan | Fixed Income Mutual Funds | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets | 23,813 | 20,497 | |
BancShares Plan | Fixed Income Mutual Funds | Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 1 Inputs) | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets | 23,813 | 20,497 | |
BancShares Plan | Fixed Income Mutual Funds | Quoted Prices for Similar Assets and Liabilities (Level 2 Inputs) | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets | 0 | 0 | |
BancShares Plan | Fixed Income Mutual Funds | Fair Value, Inputs, Level 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets | 0 | 0 | |
BancShares Plan | Alternative investments | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets | $ 28,081 | $ 22,517 | |
Actual % of Plan Assets | 4.00% | 3.00% | |
BancShares Plan | Alternative investments | Minimum | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Target Allocation | 0.00% | 0.00% | |
BancShares Plan | Alternative investments | Maximum | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Target Allocation | 30.00% | 30.00% | |
BancShares Plan | Alternative investments | Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 1 Inputs) | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets | $ 28,081 | $ 22,517 | |
BancShares Plan | Alternative investments | Quoted Prices for Similar Assets and Liabilities (Level 2 Inputs) | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets | 0 | 0 | |
BancShares Plan | Alternative investments | Fair Value, Inputs, Level 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets | $ 0 | $ 0 |
Employee Benefit Plans (Project
Employee Benefit Plans (Projected Benefit Payments) (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
BancShares Plan | ||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ||
Defined Benefit Plan, Accumulated Benefit Obligation | $ 626,746 | $ 659,023 |
Defined Benefit Plan, Estimated Future Employer Contributions in Next Fiscal Year | 50,000 | 50,000 |
2,018 | 27,050 | |
2,019 | 29,137 | |
2,020 | 31,260 | |
2,021 | 33,168 | |
2,022 | 35,031 | |
2023-2027 | 201,126 | |
Bancorporation Plan | ||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ||
Defined Benefit Plan, Accumulated Benefit Obligation | 152,344 | $ 157,613 |
2,018 | 7,044 | |
2,019 | 7,473 | |
2,020 | 7,863 | |
2,021 | 8,284 | |
2,022 | 8,685 | |
2023-2027 | $ 48,868 |
Employee Benefit Plans (Present
Employee Benefit Plans (Present Value of Accrued Liability) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Executives Directors And Officer Of Acquired Entities [Member] | |||
Present Value Of Accrued Liability [Roll Forward] | |||
Present value of accrued liability as of January 1 | $ 37,299 | $ 38,597 | |
Liability assumed in the Capital Commerce merger | 808 | 0 | |
Benefit expense and interest cost | 535 | 3,262 | |
Benefits paid | 4,579 | 4,560 | |
Present value of accrued liability as of December 31 | 34,063 | 37,299 | $ 38,597 |
BancShares Plan | |||
Present Value Of Accrued Liability [Roll Forward] | |||
Benefit expense and interest cost | 7,759 | 8,569 | 11,936 |
Interest cost | $ 28,376 | $ 28,940 | $ 28,892 |
Discount rate | 4.38% | 3.76% |
Other Noninterest Income and _3
Other Noninterest Income and Other Noninterest Expense (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Other Operating Cost and Expense [Line Items] | |||
Other Noninterest Income | $ 26,041 | $ 35,358 | $ 34,170 |
Other Noninterest Expense | 147,063 | 142,430 | 145,907 |
PCI Loans | |||
Other Operating Cost and Expense [Line Items] | |||
Proceeds from Recoveries of Loans Previously Charged off | 16,600 | 21,100 | 20,100 |
Telecommunication | |||
Other Operating Cost and Expense [Line Items] | |||
Other Noninterest Expense | 10,471 | 12,172 | 14,496 |
Consultant | |||
Other Operating Cost and Expense [Line Items] | |||
Other Noninterest Expense | 14,345 | 14,963 | 10,931 |
Core Deposit Intangible Amortization | |||
Other Operating Cost and Expense [Line Items] | |||
Other Noninterest Expense | 17,165 | 17,194 | 16,851 |
Advertising | |||
Other Operating Cost and Expense [Line Items] | |||
Other Noninterest Expense | 11,650 | 11,227 | 10,239 |
Other Expense | |||
Other Operating Cost and Expense [Line Items] | |||
Other Noninterest Expense | $ 93,432 | $ 86,874 | $ 93,390 |
Income Taxes (Details)
Income Taxes (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Income Tax Disclosure [Abstract] | ||||
Deferred Tax Assets, Operating Loss Carryforwards | $ 28,600 | $ 28,600 | ||
Deferred tax assets, state net operating loss carryforward | 15,400 | 15,400 | ||
Increase in tax expense attributable to revaluation of deferred tax assets | 25,800 | |||
Unrecognized Tax Benefits, Income Tax Penalties and Interest Expense | 564 | $ 450 | $ 357 | |
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward] | ||||
Beginning balance of unrecognized tax benefits | 29,004 | 28,879 | 5,975 | |
Unrecognized Tax Benefits, Decrease Resulting from Prior Period Tax Positions | (1,054) | (44) | (327) | |
Unrecognized Tax Benefits, Increase Resulting from Current Period Tax Positions | 1,433 | 169 | 23,231 | |
Unrecognized Tax Benefits, Decrease Resulting from Settlements with Taxing Authorities | (1,128) | 0 | 0 | |
Ending balance of unrecognized tax benefits | 28,255 | 28,255 | 29,004 | 28,879 |
Current tax expense | ||||
Federal | 95,151 | 87,992 | 84,946 | |
State | 21,523 | 6,116 | 7,493 | |
Total current tax expense | 116,674 | 94,108 | 92,439 | |
Deferred Income Tax Expense (Benefit) | ||||
Federal | (10,944) | 115,392 | 23,144 | |
State | (2,433) | 10,446 | 10,002 | |
Total deferred tax expense | (13,377) | 125,838 | 33,146 | |
Total income tax expense | $ 103,297 | 219,946 | 125,585 | |
Effective Income Tax Rate Reconciliation, Amount [Abstract] | ||||
Federal statutory rate | 21.00% | |||
Income taxes at federal statutory rates | $ 105,758 | 190,294 | 122,874 | |
Nontaxable income on loans, leases and investments, net of nondeductible expenses | (1,796) | (2,525) | (2,901) | |
Nondeductible FDIC insurance expense | 2,348 | 0 | 0 | |
State and local income taxes, including change in valuation allowance, net of federal income tax benefit | 15,081 | 10,765 | 11,372 | |
Effect of federal rate change | (15,736) | 0 | ||
Tax credits net of amortization | (2,891) | (4,840) | (4,138) | |
Other, net | 533 | 490 | (1,622) | |
Total income tax expense | 103,297 | 219,946 | $ 125,585 | |
Deferred Tax Assets, Net [Abstract] | ||||
Allowance for loan and lease losses | 53,391 | 53,391 | 50,853 | |
Pension liability | 0 | 0 | 704 | |
Executive separation from service agreements | 7,927 | 7,927 | 8,548 | |
Federal net operating loss carryforward | 6,862 | 6,862 | 2,685 | |
Net unrealized loss included in comprehensive income | 32,663 | 32,663 | 10,849 | |
Employee compensation | 11,145 | 11,145 | 4,192 | |
Deferred Tax Assets, FDIC-Assisted Transaction Timing Differences | 7,622 | 7,622 | 0 | |
Deferred Tax Assets, Other reserves | 5,574 | 5,574 | 5,570 | |
Other | 9,555 | 9,555 | 5,924 | |
Deferred tax asset | 134,739 | 134,739 | 89,325 | |
Deferred Tax Liabilities, accelerated depreciation | 4,987 | 4,987 | 7,562 | |
Lease financing activities | 12,674 | 12,674 | 9,131 | |
Net deferred loan fees and costs | 10,651 | 10,651 | 8,708 | |
Intangible assets | 11,713 | 11,713 | 12,252 | |
Deferred Tax Liability, Security, loan and debt valuations | 4,557 | 4,557 | 7,018 | |
FDIC-assisted transactions timing differences | 0 | 0 | 1,113 | |
Pension liability | 6,287 | 6,287 | 0 | |
Other | 1,722 | 1,722 | 4,565 | |
Deferred tax liability | 52,591 | 52,591 | 50,349 | |
Net deferred tax assets | $ 82,148 | $ 82,148 | $ 38,976 |
Transactions with Related Per_3
Transactions with Related Persons (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 12 Months Ended | |
Sep. 30, 2018 | Dec. 31, 2018 | Dec. 31, 2017 | |
Loans and Leases Receivable, Related Parties [Roll Forward] | |||
Beginning balance | $ 74 | $ 353 | |
New loans | 134 | 11 | |
Repayments | (9) | (290) | |
Ending balance | 199 | 74 | |
Unfunded loan commitments available to related parties | $ 4,300 | $ 2,100 | |
Class A Common Stock | |||
Loans and Leases Receivable, Related Parties [Roll Forward] | |||
Share repurchased from related party (in shares) | 382,000 | 0 | |
Class A Common Stock | Related Party | |||
Loans and Leases Receivable, Related Parties [Roll Forward] | |||
Share repurchased from related party (in shares) | 100,000 | ||
Price of repurchased shares (usd per share) | $ 465 |
Goodwill and Intangible Asset_2
Goodwill and Intangible Assets (Details) | 12 Months Ended | |||
Dec. 31, 2018USD ($)$ / loansRate | Dec. 31, 2017USD ($)$ / loansRate | Dec. 31, 2016USD ($) | Dec. 31, 2015USD ($) | |
Servicing Asset at Amortized Cost [Line Items] | ||||
Servicing Asset at Amortized Cost | $ 21,396,000 | $ 21,945,000 | $ 20,415,000 | $ 19,351,000 |
Servicing Asset at Amortized Cost, Additions | 5,258,000 | 7,174,000 | 5,931,000 | |
Amortization | (5,807,000) | (5,648,000) | (4,958,000) | |
Valuation Allowance for Impairment of Recognized Servicing Assets, Provisions (Recoveries) | 0 | (4,000) | (91,000) | |
Residential Mortgage Loans Serviced | $ 2,950,000,000 | $ 2,810,000,000 | 2,490,000,000 | |
Servicing Assets and Servicing Liabilities at Fair Value, Assumptions Used to Estimate Fair Value, Prepayment Speed | Rate | 9.26% | 10.93% | ||
Contractually Specified Servicing Fee, Late Fee, and Ancillary Fee Earned in Exchange for Servicing Financial Asset | $ 7,500,000 | $ 7,100,000 | 5,800,000 | |
Servicing Assets and Servicing Liabilities at Fair Value, Assumptions Used to Estimate Fair Value, Cost to Service Loans | $ / loans | 72.65 | 64.03 | ||
Goodwill [Roll Forward] | ||||
Beginning goodwill | $ 150,601,000 | $ 150,601,000 | ||
Ending goodwill | 236,347,000 | 150,601,000 | 150,601,000 | |
Finite-lived Intangible Assets [Roll Forward] | ||||
Beginning balance | 51,151,000 | 57,625,000 | ||
Amortization | (17,165,000) | (17,194,000) | ||
Ending balance | 48,232,000 | 51,151,000 | $ 57,625,000 | |
Finite-Lived Intangible Assets [Abstract] | ||||
Gross balance | 143,007,000 | 128,761,000 | ||
Accumulated amortization | (94,775,000) | (77,610,000) | ||
Carrying value | 48,232,000 | 51,151,000 | ||
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract] | ||||
2,019 | 14,964,000 | |||
2,020 | 11,729,000 | |||
2,021 | 8,706,000 | |||
2,022 | 5,805,000 | |||
2023 and subsequent | 7,028,000 | |||
Other servicing rights | 2,700,000 | 0 | ||
HomeBancorp Inc. | ||||
Goodwill [Roll Forward] | ||||
Goodwill acquired | 57,616,000 | 0 | ||
Finite-lived Intangible Assets [Roll Forward] | ||||
Intangible assets acquired | 9,860,000 | 0 | ||
Capital Commerce Bancorp | ||||
Goodwill [Roll Forward] | ||||
Goodwill acquired | 10,680,000 | 0 | ||
Finite-lived Intangible Assets [Roll Forward] | ||||
Intangible assets acquired | 2,680,000 | 0 | ||
Palmetto Heritage Bancshares | ||||
Goodwill [Roll Forward] | ||||
Goodwill acquired | 17,450,000 | 0 | ||
Finite-lived Intangible Assets [Roll Forward] | ||||
Intangible assets acquired | 1,706,000 | 0 | ||
Harvest Community Bank | ||||
Finite-lived Intangible Assets [Roll Forward] | ||||
Intangible assets acquired | 0 | 850,000 | ||
Guaranty Bank | ||||
Finite-lived Intangible Assets [Roll Forward] | ||||
Intangible assets acquired | $ 0 | $ 9,870,000 | ||
Conventional fixed loans | ||||
Servicing Asset at Amortized Cost [Line Items] | ||||
Servicing Assets and Servicing Liabilities at Fair Value, Assumptions Used to Estimate Fair Value, Discount Rate | Rate | 9.6851% | 9.41% | ||
All loans and leases excluding conventional fixed loans [Member] | ||||
Servicing Asset at Amortized Cost [Line Items] | ||||
Servicing Assets and Servicing Liabilities at Fair Value, Assumptions Used to Estimate Fair Value, Discount Rate | Rate | 10.6851% | 10.41% | ||
Core deposits | Minimum | ||||
Goodwill [Roll Forward] | ||||
Useful life | 1 year | |||
Core deposits | Maximum | ||||
Goodwill [Roll Forward] | ||||
Useful life | 10 years |
Shareholders' Equity, Dividen_3
Shareholders' Equity, Dividends Restrictions and Other Regulatory Matters (Details) $ in Thousands | 2 Months Ended | 10 Months Ended | 12 Months Ended | ||||
Feb. 20, 2019shares | Dec. 31, 2018USD ($)Rateshares | Oct. 31, 2018shares | Dec. 31, 2018USD ($)voteRateshares | Dec. 31, 2017USD ($)Rateshares | Dec. 31, 2016USD ($) | Nov. 01, 2018shares | |
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | |||||||
Capital required for common equity Tier 1 capital to risk-weighted assets | 4.50% | 4.50% | |||||
Dividends from subsidiaries | $ 242,910 | ||||||
Tier 1 Risk Based Capital Required for Capital Adequacy to Risk Weighted Assets | 6.00% | 6.00% | |||||
Capital Required for Capital Adequacy to Risk Weighted Assets | 8.00% | 8.00% | |||||
Leverage Capital Required Ratio To Tangible Assets | 4.00% | 4.00% | |||||
Tier 2 capital | $ 20,000 | $ 20,000 | $ 0 | ||||
Subordinated Debt, Annual Tier 2 Discount Percentage | Rate | 0.00% | 0.00% | 20.00% | ||||
Maximum Undivided Profits Elgible For Dividend Payment Without Changing Well Capitalized Status | $ 1,092,100 | $ 1,092,100 | |||||
Average Required Maintence Of Non Interst Bearing Reserve Balance | $ 680,300 | ||||||
Capital Conservation Buffer, Annual Percentage Increase | 0.625% | 0.625% | |||||
Capital Conservation Buffer | 1.88% | 1.88% | 0.625% | ||||
Fully Phased In 2019 Capital Conservation Buffer | 2.50% | 2.50% | |||||
Common Class A [Member] | |||||||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | |||||||
Votes per share of common stock | vote | 1 | ||||||
Stock Repurchase Program, Number of Shares Authorized to be Repurchased | shares | 800,000 | 800,000 | 800,000 | ||||
Stock Repurchased During Period, Shares | shares | 382,000 | 0 | |||||
Stock Repurchased and Retired During Period, Shares | shares | 182,000 | 200,000 | |||||
Common Class A [Member] | Subsequent Event | |||||||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | |||||||
Stock Repurchased and Retired During Period, Shares | shares | 106,500 | ||||||
Class B Common Stock | |||||||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | |||||||
Votes per share of common stock | vote | 16 | ||||||
Stock Repurchased and Retired During Period, Shares | shares | 0 | 0 | |||||
Parent | |||||||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | |||||||
Dividends from subsidiaries | $ 50,424 | $ 90,100 | |||||
BancShares [Member] | |||||||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | |||||||
Tier 1 Capital for Capital Adequacy | $ 3,463,307 | $ 3,463,307 | 3,287,364 | ||||
Capital Required for Capital Adequacy | 3,826,626 | 3,826,626 | 3,626,789 | ||||
Leverage Capital Required for Capital Adequacy | $ 3,463,307 | $ 3,463,307 | $ 3,287,364 | ||||
Tier 1 Risk Based Capital to Risk Weighted Assets | 12.67% | 12.67% | 12.88% | ||||
Capital to Risk Weighted Assets | 13.99% | 13.99% | 14.21% | ||||
Leverage Capital to Average Assets | 9.77% | 9.77% | 9.47% | ||||
Tier 1 Risk Based Capital Required to be Well Capitalized to Risk Weighted Assets | 8.00% | 8.00% | 8.00% | ||||
Common equity Tier 1 | $ 3,463,307 | $ 3,463,307 | $ 3,287,364 | ||||
Common equity Tier 1 to risk-weighted assets | 12.67% | 12.67% | 12.88% | ||||
Common equity Tier 1 required to be well capitalized to risk-weighted assets | 6.50% | 6.50% | 6.50% | ||||
Capital Required to be Well Capitalized | 10.00% | 10.00% | 10.00% | ||||
Leverage Capital Required to be Well Capitalized to Average Assets | 5.00% | 5.00% | 5.00% | ||||
Capital Conservation Buffer | 5.99% | 5.99% | |||||
FCB [Member] | |||||||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | |||||||
Tier 1 Capital for Capital Adequacy | $ 3,315,742 | $ 3,315,742 | $ 3,189,709 | ||||
Capital Required for Capital Adequacy | 3,574,561 | 3,574,561 | 3,422,634 | ||||
Leverage Capital Required for Capital Adequacy | $ 3,315,742 | $ 3,315,742 | $ 3,189,709 | ||||
Tier 1 Risk Based Capital to Risk Weighted Assets | 12.17% | 12.17% | 12.54% | ||||
Capital to Risk Weighted Assets | 13.12% | 13.12% | 13.46% | ||||
Leverage Capital to Average Assets | 9.39% | 9.39% | 9.22% | ||||
Tier 1 Risk Based Capital Required to be Well Capitalized to Risk Weighted Assets | 8.00% | 8.00% | 8.00% | ||||
Common equity Tier 1 | $ 3,315,742 | $ 3,315,742 | $ 3,189,709 | ||||
Common equity Tier 1 to risk-weighted assets | 12.17% | 12.17% | 12.54% | ||||
Common equity Tier 1 required to be well capitalized to risk-weighted assets | 6.50% | 6.50% | 6.50% | ||||
Capital Required to be Well Capitalized | 10.00% | 10.00% | 10.00% | ||||
Leverage Capital Required to be Well Capitalized to Average Assets | 5.00% | 5.00% | 5.00% | ||||
Capital Conservation Buffer | 5.12% | 5.12% |
Commitments and Contingencies (
Commitments and Contingencies (Details) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 |
Guarantor Obligations [Line Items] | |||
Amortization Method Qualified Affordable Housing Project Investments | $ 147,300 | $ 128,000 | |
FDIC shared-loss payable | 105,618 | 101,342 | $ 97,008 |
Commitments to Extend Credit | |||
Guarantor Obligations [Line Items] | |||
Unused Commitments to Extend Credit | 10,054,712 | 9,629,365 | |
Affordable Housing Program Obligation | 67,952 | 61,819 | |
Standby Letters of Credit | |||
Guarantor Obligations [Line Items] | |||
Guarantor obligations amount | $ 96,467 | 81,530 | |
Obligation to Repurchase Receivables Sold | |||
Guarantor Obligations [Line Items] | |||
Reserve for estimated losses arising from repurchase of loans | $ 882 |
Accumulated Other Comprehensi_3
Accumulated Other Comprehensive Loss (Schedule Of Accumulated Other Comprehensive Income) (Details) - USD ($) $ in Thousands | 12 Months Ended | |||||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | ||||
Accumulated Other Comprehensive Income (Loss), before Tax | $ (305,438) | $ (193,833) | ||||
Deferred tax expense (benefit) | (70,251) | (71,539) | ||||
Accumulated other comprehensive income (loss), net of tax | (235,187) | (122,294) | $ (135,192) | |||
Income taxes | (103,297) | (219,946) | (125,585) | |||
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax | [1] | (23,667) | (3,419) | |||
Securities gains (losses) | 351 | 4,293 | 26,673 | |||
Unrealized losses on securities available for sale | ||||||
Accumulated Other Comprehensive Income (Loss), before Tax | (50,007) | (48,834) | ||||
Deferred tax expense (benefit) | (11,502) | (17,889) | ||||
Accumulated other comprehensive income (loss), net of tax | [2] | (38,505) | (30,945) | (45,875) | ||
Income taxes | [1] | (81) | (1,588) | |||
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax | [1],[2] | 270 | 2,705 | |||
Securities gains (losses) | [1] | 351 | 4,293 | |||
Unrealized losses on securities available for sale transferred to held to maturity | ||||||
Accumulated Other Comprehensive Income (Loss), before Tax | (92,401) | 0 | ||||
Deferred tax expense (benefit) | (21,252) | 0 | ||||
Accumulated other comprehensive income (loss), net of tax | [2] | (71,149) | 0 | 0 | ||
Income taxes | [1] | 3,934 | ||||
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax | [2] | (13,172) | [1] | 0 | ||
Defined benefit pension items | ||||||
Accumulated Other Comprehensive Income (Loss), before Tax | (163,030) | (144,999) | ||||
Deferred tax expense (benefit) | (37,497) | (53,650) | ||||
Accumulated other comprehensive income (loss), net of tax | [2] | (125,533) | (91,349) | $ (89,317) | ||
Income taxes | [1] | 3,216 | 3,596 | |||
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax | [1],[2] | (10,765) | (6,124) | |||
Employee Benefits, prior service costs | [1] | (79) | (210) | |||
Reclassification adjustment for losses included in income before income taxes | [1] | (13,902) | (9,510) | |||
Other Comprehensive (Income) Loss, Defined Benefit Plan, Reclassification Adjustment from AOCI, before Tax | $ (13,981) | $ (9,720) | [1] | |||
[1] | Amounts in parentheses indicate debits to profit/loss. | |||||
[2] | All amounts are net of tax. Amounts in parentheses indicate debits. |
Accumulated Other Comrehensive
Accumulated Other Comrehensive Loss (Components of AOCI) (Details) - USD ($) $ in Thousands | 12 Months Ended | |||||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | Jan. 01, 2018 | |||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||||
Beginning balance | $ (122,294) | $ (135,192) | ||||
Other comprehensive income (loss) before reclassifications | (86,509) | 9,479 | ||||
Amounts reclassified from accumulated other comprehensive loss | [1] | 23,667 | 3,419 | |||
Net current period other comprehensive income (loss) | (62,842) | 12,898 | $ (70,752) | |||
Cumulative effect adjustments | $ (50,051) | |||||
Ending balance | (235,187) | (122,294) | (135,192) | |||
Unrealized losses on securities available for sale | ||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||||
Beginning balance | [2] | (30,945) | (45,875) | |||
Other comprehensive income (loss) before reclassifications | [2] | 22,461 | 17,635 | |||
Amounts reclassified from accumulated other comprehensive loss | [1],[2] | (270) | (2,705) | |||
Net current period other comprehensive income (loss) | [2] | 22,191 | 14,930 | |||
Cumulative effect adjustments | (29,751) | |||||
Ending balance | [2] | (38,505) | (30,945) | (45,875) | ||
Unrealized losses on securities available for sale transferred to held to maturity | ||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||||
Beginning balance | [2] | 0 | 0 | |||
Other comprehensive income (loss) before reclassifications | [2] | (84,321) | 0 | |||
Amounts reclassified from accumulated other comprehensive loss | [2] | 13,172 | [1] | 0 | ||
Net current period other comprehensive income (loss) | [2] | (71,149) | 0 | |||
Cumulative effect adjustments | 0 | |||||
Ending balance | [2] | (71,149) | 0 | 0 | ||
Defined Benefit Pension Items | ||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||||
Beginning balance | [2] | (91,349) | (89,317) | |||
Other comprehensive income (loss) before reclassifications | [2] | (24,649) | (8,156) | |||
Amounts reclassified from accumulated other comprehensive loss | [1],[2] | 10,765 | 6,124 | |||
Net current period other comprehensive income (loss) | [2] | (13,884) | (2,032) | |||
Cumulative effect adjustments | $ (20,300) | |||||
Ending balance | [2] | $ (125,533) | $ (91,349) | $ (89,317) | ||
[1] | Amounts in parentheses indicate debits to profit/loss. | |||||
[2] | All amounts are net of tax. Amounts in parentheses indicate debits. |
Accumulated Other Comprehensi_4
Accumulated Other Comprehensive Loss (Reclassifications out of AOCI) (Details) - USD ($) $ in Thousands | 12 Months Ended | |||||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | ||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||||
Securities gains (losses) | $ 351 | $ 4,293 | $ 26,673 | |||
Income taxes | (103,297) | (219,946) | $ (125,585) | |||
Amounts reclassified from accumulated other comprehensive income, net of tax | [1] | 23,667 | 3,419 | |||
Unrealized losses on securities available for sale | ||||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||||
Securities gains (losses) | [1] | 351 | 4,293 | |||
Income taxes | [1] | (81) | (1,588) | |||
Amounts reclassified from accumulated other comprehensive income, net of tax | [1],[2] | (270) | (2,705) | |||
Unrealized losses on securities available for sale transferred to held to maturity | ||||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||||
Net interest income | [1] | (17,106) | ||||
Income taxes | [1] | 3,934 | ||||
Amounts reclassified from accumulated other comprehensive income, net of tax | [2] | 13,172 | [1] | 0 | ||
Defined Benefit Pension Items | ||||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||||
Employee Benefits, prior service costs | [1] | 79 | 210 | |||
Reclassification adjustment for losses included in income before income taxes | [1] | 13,902 | 9,510 | |||
Total before taxes | 13,981 | 9,720 | [1] | |||
Income taxes | [1] | 3,216 | 3,596 | |||
Amounts reclassified from accumulated other comprehensive income, net of tax | [1],[2] | $ 10,765 | $ 6,124 | |||
[1] | Amounts in parentheses indicate debits to profit/loss. | |||||
[2] | All amounts are net of tax. Amounts in parentheses indicate debits. |
Parent Company Financial Stat_3
Parent Company Financial Statements (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||
Dec. 31, 2018 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Assets | |||||
Overnight investments | $ 797,406 | $ 797,406 | $ 1,387,927 | ||
Investment in marketable equity securities | 92,599 | 92,599 | 0 | ||
Investment securities available for sale | 4,557,110 | 4,557,110 | 7,180,180 | ||
Other assets | 433,595 | 433,595 | 688,594 | ||
Total assets | 35,408,629 | 35,408,629 | 34,527,512 | ||
Liabilities and Shareholders' Equity | |||||
Short-term borrowings | 572,287 | 572,287 | 693,807 | ||
Long-term obligations | 319,867 | 319,867 | 870,240 | ||
Other liabilities | 249,443 | 249,443 | 261,784 | ||
Stockholders' equity | 3,488,954 | 3,488,954 | 3,334,064 | $ 3,012,427 | $ 2,872,109 |
Total liabilities and shareholders' equity | 35,408,629 | 35,408,629 | 34,527,512 | ||
Income Statement [Abstract] | |||||
Interest expense | 36,857 | 43,794 | 43,082 | ||
Net interest income (loss) | 1,208,900 | 1,059,896 | 944,675 | ||
Dividends from subsidiaries | 242,910 | ||||
Marketable equity securities losses, net | 9 | 1,190 | |||
Income tax benefit | 103,297 | 219,946 | 125,585 | ||
Net income | 400,313 | 323,752 | 225,482 | ||
OPERATING ACTIVITIES | |||||
Net income | 400,313 | 323,752 | 225,482 | ||
Net amortization of premiums and accretion of discounts | (36,567) | (40,028) | (44,618) | ||
Change in the fair value of marketable equity securities | 7,610 | 0 | 0 | ||
Gain on elimination of acquired debt | (26,553) | (12,483) | 0 | ||
Securities (gains) losses | (351) | (4,293) | (26,673) | ||
Change in other assets | 304,503 | (31,978) | (7,197) | ||
Change in other liabilities | (40,895) | (25,939) | (25,520) | ||
INVESTING ACTIVITIES | |||||
Net change in overnight investments | 601,979 | 586,279 | 233,433 | ||
Purchases of marketable equity securities | (2,818) | 0 | 0 | ||
Proceeds from sales of marketable equity securities | 9,528 | 0 | 0 | ||
FINANCING ACTIVITIES | |||||
Repayment of long-term obligations | (752,447) | (6,955) | (9,279) | ||
Repurchase of common stock | (163,095) | 0 | 0 | ||
Cash dividends paid | (16,779) | (14,412) | (14,412) | ||
Net change in cash | (8,710) | (203,591) | 5,655 | ||
Cash and due from banks at beginning of period | 336,150 | 539,741 | 534,086 | ||
Cash and due from banks at end of period | 327,440 | 327,440 | 336,150 | 539,741 | |
Cash payments for | |||||
Interest | 37,097 | 43,639 | 44,998 | ||
Income taxes | 73,806 | 88,565 | 108,741 | ||
Parent | |||||
Assets | |||||
Cash | 7,188 | 7,188 | 45,411 | ||
Overnight investments | 385 | 385 | 14,476 | ||
Investment in marketable equity securities | 92,599 | 92,599 | 0 | ||
Investment securities available for sale | 6,456 | 6,456 | 117,513 | ||
Investment in Banking Subsidiaries | 3,314,292 | 3,314,292 | 3,203,491 | ||
Investment in Other Subsidiaries | 41,830 | 41,830 | 41,165 | ||
Due from subsidiaries | 814 | 814 | 4 | ||
Note to banking subsidiaries | 100,000 | 100,000 | 0 | ||
Other assets | 42,810 | 42,810 | 46,674 | ||
Total assets | 3,606,374 | 3,606,374 | 3,468,734 | ||
Liabilities and Shareholders' Equity | |||||
Short-term borrowings | 0 | 0 | 15,000 | ||
Long-term obligations | 105,546 | 105,546 | 107,479 | ||
Due to Affiliate | 299 | 299 | 728 | ||
Other liabilities | 11,575 | 11,575 | 11,463 | ||
Stockholders' equity | 3,488,954 | 3,488,954 | 3,334,064 | ||
Total liabilities and shareholders' equity | 3,606,374 | 3,606,374 | 3,468,734 | ||
Income Statement [Abstract] | |||||
Interest income | 1,362 | 921 | 1,110 | ||
Interest expense | 5,154 | 4,814 | 6,067 | ||
Net interest income (loss) | (3,792) | (3,893) | (4,957) | ||
Dividends from subsidiaries | 50,424 | 90,100 | |||
Dividend Income, Banking Subsidiaries | 90,055 | ||||
Marketable equity securities losses, net | (7,610) | 0 | 0 | ||
Other income (loss) | 347 | 8,437 | 9,330 | ||
Other operating expense | 11,127 | 6,881 | 5,641 | ||
Income tax benefit | (5,184) | (5,395) | (730) | ||
Income before income tax benefit and equity in undistributed net income of subsidiaries | 220,728 | 48,087 | 88,787 | ||
Excess distributions (undistributed ) net income of subsidiaries | (174,401) | (270,270) | (135,965) | ||
Net income | 400,313 | 323,752 | 225,482 | ||
Income before equity in undistributed net income of subsidiaries | 225,912 | 53,482 | 89,517 | ||
OPERATING ACTIVITIES | |||||
Net income | 400,313 | 323,752 | 225,482 | ||
Excess distributions (undistributed ) net income of subsidiaries | (174,401) | (270,270) | (135,965) | ||
Net amortization of premiums and accretion of discounts | 88 | 759 | 398 | ||
Gain on elimination of acquired debt | (160) | (919) | (1,717) | ||
Securities (gains) losses | 0 | (8,003) | (9,446) | ||
Change in other assets | 3,657 | (10,509) | (980) | ||
Change in other liabilities | (2,595) | 6,310 | 2,483 | ||
Net cash provided by (Used in) Operating Activities | 234,512 | 41,120 | 80,255 | ||
INVESTING ACTIVITIES | |||||
Net change in loans | (100,000) | 0 | 0 | ||
Net change in due from subsidiaries | (810) | (4) | 0 | ||
Net change in overnight investments | 14,091 | 11,681 | (24,741) | ||
Purchases of marketable equity securities | (2,818) | 0 | 0 | ||
Proceeds from sales of marketable equity securities | 9,528 | ||||
Purchases of investment securities | (6,438) | (28,012) | (93,003) | ||
Maturities and sales of investment securities | 9,997 | 32,463 | 38,316 | ||
Net Cash Provided by (Used in) Investing Activities | (76,450) | 16,128 | (79,428) | ||
FINANCING ACTIVITIES | |||||
Change in Due to Subsidiaries | 429 | (1,622) | 2,296 | ||
Net change in short-term borrowings | (15,000) | 0 | 0 | ||
Repayment of long-term obligations | (1,840) | (4,081) | (5,302) | ||
Repurchase of common stock | (163,095) | 0 | 0 | ||
Cash dividends paid | (16,779) | (14,412) | (14,412) | ||
Net cash used by financing activities | (196,285) | (20,115) | (17,418) | ||
Net change in cash | (38,223) | 37,133 | (16,591) | ||
Cash and due from banks at beginning of period | 45,411 | 8,278 | 24,869 | ||
Cash and due from banks at end of period | $ 7,188 | 7,188 | 45,411 | 8,278 | |
Cash payments for | |||||
Interest | 5,154 | 4,814 | 4,006 | ||
Income taxes | $ 73,806 | $ 88,565 | $ 108,741 |
Uncategorized Items - fcnca-201
Label | Element | Value |
Accounting Standards Update 2016-01 [Member] | Additional Paid-in Capital [Member] | ||
Cumulative Effect of New Accounting Principle in Period of Adoption | us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption | $ 0 |
Accounting Standards Update 2016-01 [Member] | Retained Earnings [Member] | ||
Cumulative Effect of New Accounting Principle in Period of Adoption | us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption | 18,715,000 |
Accounting Standards Update 2016-01 [Member] | Common Stock [Member] | ||
Cumulative Effect of New Accounting Principle in Period of Adoption | us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption | 0 |
Accounting Standards Update 2016-01 [Member] | AOCI Attributable to Parent [Member] | ||
Cumulative Effect of New Accounting Principle in Period of Adoption | us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption | (18,715,000) |
Accounting Standards Update 2018-02 [Member] | Additional Paid-in Capital [Member] | ||
Cumulative Effect of New Accounting Principle in Period of Adoption | us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption | 0 |
Accounting Standards Update 2018-02 [Member] | Retained Earnings [Member] | ||
Cumulative Effect of New Accounting Principle in Period of Adoption | us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption | 31,336,000 |
Accounting Standards Update 2018-02 [Member] | Common Stock [Member] | ||
Cumulative Effect of New Accounting Principle in Period of Adoption | us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption | 0 |
Accounting Standards Update 2018-02 [Member] | AOCI Attributable to Parent [Member] | ||
Cumulative Effect of New Accounting Principle in Period of Adoption | us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption | $ (31,336,000) |