Document And Entity Information
Document And Entity Information - shares | 6 Months Ended | |
Jun. 30, 2019 | Aug. 05, 2019 | |
Entity Central Index Key | 0000798941 | |
Current Fiscal Year End Date | --12-31 | |
Document Fiscal Year Focus | 2019 | |
Document Fiscal Period Focus | Q2 | |
Amendment Flag | false | |
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Jun. 30, 2019 | |
Document Transition Report | false | |
Entity File Number | 001-16715 | |
Entity Registrant Name | First Citizens BancShares Inc /DE/ | |
Entity Incorporation, State or Country Code | DE | |
Entity Tax Identification Number | 56-1528994 | |
Entity Address, Address Line One | 4300 Six Forks Road | |
Entity Address, City or Town | Raleigh | |
Entity Address, State or Province | NC | |
Entity Address, Postal Zip Code | 27609 | |
City Area Code | (919) | |
Local Phone Number | 716-7000 | |
Title of 12(b) Security | Class A Common Stock, Par Value $1 | |
Trading Symbol | FCNCA | |
Security Exchange Name | NASDAQ | |
Title of 12(g) Security | Class B Common Stock, Par Value $1 | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Large Accelerated Filer | |
Entity Small Business | false | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Class A Common Stock | ||
Entity Common Stock, Shares Outstanding | 10,105,120 | |
Class B Common Stock | ||
Entity Common Stock, Shares Outstanding | 1,005,185 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
Assets | ||
Cash and due from banks | $ 284,147 | $ 327,440 |
Overnight investments | 1,640,264 | 797,406 |
Investment in marketable equity securities | 111,489 | 92,599 |
Investment securities available for sale | 4,366,041 | 4,557,110 |
Investment securities held to maturity | 2,218,048 | 2,184,653 |
Loans held for sale | 52,837 | 45,505 |
Loans and leases | 26,728,237 | 25,523,276 |
Allowance for loan and lease losses | (226,583) | (223,712) |
Net loans and leases | 26,501,654 | 25,299,564 |
Premises and equipment | 1,213,296 | 1,204,179 |
Other real estate owned | 46,236 | 48,030 |
Income earned not collected | 115,303 | 109,903 |
Goodwill recorded for First South Bancorp | 296,764 | 236,347 |
Other intangible assets | 69,575 | 72,298 |
Other assets | 739,440 | 433,595 |
Total assets | 37,655,094 | 35,408,629 |
Deposits [Abstract] | ||
Noninterest-bearing deposits | 12,950,394 | 11,882,670 |
Interest-bearing deposits | 19,769,277 | 18,789,790 |
Total deposits | 32,719,671 | 30,672,460 |
Securities sold under customer repurchase agreements | 544,527 | 543,936 |
Debt, Long-term and Short-term, Combined Amount | 197,131 | 193,556 |
Subordinated Debt | 154,277 | 140,741 |
Long-term obligations | 18,446 | 13,921 |
FDIC shared-loss payable | 108,892 | 105,618 |
Other liabilities | 337,537 | 249,443 |
Total liabilities | 34,080,481 | 31,919,675 |
Shareholders' Equity | ||
Preferred stock | 0 | 0 |
Surplus | 303,880 | 493,962 |
Retained earnings | 3,440,284 | 3,218,551 |
Accumulated other comprehensive loss | (180,731) | (235,187) |
Total shareholders' equity | 3,574,613 | 3,488,954 |
Total liabilities and shareholders' equity | 37,655,094 | 35,408,629 |
Class A Common Stock | ||
Shareholders' Equity | ||
Common stock | 10,175 | 10,623 |
Class B Common Stock | ||
Shareholders' Equity | ||
Common stock | $ 1,005 | $ 1,005 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - $ / shares | Jun. 30, 2019 | Dec. 31, 2018 |
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 |
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 | 10,174,720 | 10,623,220 |
Common stock, shares outstanding | 10,174,720 | 10,623,220 |
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 |
Consolidated Statements of Inco
Consolidated Statements of Income - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Interest income | ||||
Loans and leases | $ 303,233 | $ 261,086 | $ 594,155 | $ 513,068 |
Investment securities and dividend income | 40,209 | 37,179 | 79,821 | 72,199 |
Overnight investments | 7,279 | 5,612 | 13,669 | 11,211 |
Total interest income | 350,721 | 303,877 | 687,645 | 596,478 |
Interest expense | ||||
Deposits | 19,158 | 4,521 | 32,084 | 8,277 |
Short-term borrowings | 515 | 373 | 974 | 777 |
Federal Home Loan Bank borrowings | 1,586 | 852 | 2,871 | 3,236 |
Subordinated debentures | 1,952 | 1,653 | 3,624 | 3,094 |
Long-term obligations | 162 | 259 | 272 | 438 |
Total interest expense | 23,373 | 7,658 | 39,825 | 15,822 |
Net interest income | 327,348 | 296,219 | 647,820 | 580,656 |
Provision (credit) for loan and lease losses | 5,198 | 8,438 | 16,948 | 16,043 |
Net interest income after provision for loan and lease losses | 322,150 | 287,781 | 630,872 | 564,613 |
Noninterest income | ||||
Debt and Equity Securities, Gain (Loss) | 5,719 | 0 | 5,719 | 0 |
Marketable equity securities gains, net | 3,144 | 4,440 | 14,472 | 5,411 |
Gain on extinguishment of debt | 0 | 0 | 0 | 25,814 |
Other | 5,034 | 6,001 | 8,953 | 13,165 |
Total noninterest income | 106,875 | 100,927 | 210,538 | 223,611 |
Noninterest expense | ||||
Salaries and wages | 136,526 | 129,841 | 268,947 | 259,044 |
Employee benefits | 30,197 | 29,715 | 62,732 | 61,806 |
Occupancy expense | 26,886 | 26,100 | 54,647 | 54,054 |
Equipment expense | 28,489 | 25,167 | 55,229 | 50,141 |
FDIC insurance expense | 2,757 | 5,492 | 5,417 | 11,225 |
Collection and foreclosure-related expenses | 3,659 | 3,974 | 6,681 | 8,120 |
Merger-related expenses | 4,084 | 2,412 | 5,803 | 3,010 |
Processing fees paid to third parties | 6,641 | 7,890 | 13,730 | 16,086 |
Other | 34,158 | 35,402 | 67,868 | 70,570 |
Total noninterest expense | 273,397 | 265,993 | 541,054 | 534,056 |
Income before income taxes | 155,628 | 122,715 | 300,356 | 254,168 |
Income taxes | 36,269 | 29,424 | 69,638 | 60,646 |
Net income | $ 119,359 | $ 93,291 | $ 230,718 | $ 193,522 |
Average shares outstanding (in shares) | 11,286,520 | 12,010,405 | 11,402,122 | 12,010,405 |
Net income per share | $ 10.56 | $ 7.77 | $ 20.23 | $ 16.11 |
Cardholder services, net | ||||
Noninterest income | ||||
Revenue from contract with customers | $ 18,479 | $ 14,925 | $ 35,112 | $ 29,707 |
Merchant services, net | ||||
Noninterest income | ||||
Revenue from contract with customers | 6,455 | 6,478 | 12,290 | 12,655 |
Service charges on deposit accounts | ||||
Noninterest income | ||||
Revenue from contract with customers | 25,790 | 25,952 | 50,855 | 52,495 |
Wealth management services | ||||
Noninterest income | ||||
Revenue from contract with customers | 24,573 | 25,515 | 49,574 | 49,084 |
Other service charges and fees | ||||
Noninterest income | ||||
Revenue from contract with customers | 8,164 | 7,756 | 15,586 | 15,236 |
Mortgage income | ||||
Noninterest income | ||||
Revenue from contract with customers | 5,038 | 4,703 | 8,696 | 8,940 |
Insurance commissions | ||||
Noninterest income | ||||
Revenue from contract with customers | 2,854 | 2,940 | 6,145 | 6,716 |
ATM income | ||||
Noninterest income | ||||
Revenue from contract with customers | 1,625 | 2,217 | $ 3,136 | 4,388 |
Retained Earnings | ||||
Noninterest expense | ||||
Net income | $ 119,359 | $ 93,291 | $ 193,522 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Statement of Comprehensive Income [Abstract] | ||||
Net income | $ 119,359 | $ 93,291 | $ 230,718 | $ 193,522 |
Unrealized (losses) gains on securities available for sale: | ||||
Change in unrealized gains on securities available for sale arising during period | 30,971 | 82,789 | 59,042 | 4,154 |
Tax effect | (7,123) | (19,042) | (13,579) | (954) |
Reclassification adjustment for gains included in income before income taxes | (5,719) | 0 | (5,719) | 0 |
Tax effect | 1,315 | 0 | 1,315 | 0 |
Total change in unrealized (losses) gains on securities available for sale, net of tax | 19,444 | 63,747 | 41,059 | 3,200 |
Unrealized losses on securities available for sale transferred to held to maturity: | ||||
Unrealized losses on securities available for sale transferred to held to maturity | 0 | (109,507) | 0 | (109,507) |
Tax effect | 0 | 25,186 | 0 | 25,186 |
Reclassification adjustment for accretion of unrealized losses on securities available for sale transferred to held to maturity | 5,947 | 4,473 | 11,909 | 4,473 |
Tax effect | (1,368) | (1,028) | (2,739) | (1,028) |
Total change in unrealized losses on securities available for sale transferred to held to maturity, net of tax | 4,579 | (80,876) | 9,170 | (80,876) |
Change in pension obligation: | ||||
Amortization of actuarial losses and prior service cost | 2,735 | 3,654 | 5,490 | 6,991 |
Tax effect | (629) | (840) | (1,263) | (1,608) |
Total change in pension obligation, net of tax | 2,106 | 2,814 | 4,227 | 5,383 |
Net current period other comprehensive income | 26,129 | (14,315) | 54,456 | (72,293) |
Total comprehensive income | $ 145,488 | $ 78,976 | $ 285,174 | $ 121,229 |
Consolidated Statements of Chan
Consolidated Statements of Changes In Shareholders' Equity - USD ($) $ in Thousands | Total | Class A Common Stock | Class B Common Stock | Common StockClass A Common Stock | Common StockClass B Common Stock | Surplus | SurplusClass A Common Stock | Retained Earnings | Retained EarningsClass A Common Stock | Retained EarningsClass B Common Stock | Accumulated Other Comprehensive (Loss) Income | Financial Instruments ASU cumulative effect adjustmentRetained Earnings | Financial Instruments ASU cumulative effect adjustmentAccumulated Other Comprehensive (Loss) Income | Income tax ASU cumulative effect adjustmentRetained Earnings | Income tax ASU cumulative effect adjustmentAccumulated Other Comprehensive (Loss) Income |
Shareholders' equity | $ 3,334,064 | $ 11,005 | $ 1,005 | $ 658,918 | $ 2,785,430 | $ (122,294) | |||||||||
Net income | 193,522 | 193,522 | |||||||||||||
Other comprehensive income (loss), net of tax | (72,293) | (72,293) | |||||||||||||
Cash dividends | $ (7,703) | $ (704) | $ (7,703) | $ (704) | |||||||||||
Shareholders' equity | 3,372,114 | 11,005 | 1,005 | 658,918 | 2,931,509 | (230,323) | |||||||||
Net income | 93,291 | 93,291 | |||||||||||||
Other comprehensive income (loss), net of tax | (14,315) | (14,315) | |||||||||||||
Cash dividends | (3,852) | (352) | (3,852) | (352) | |||||||||||
Cumulative effect of new accounting principle in period of adoption | $ 18,715 | $ (18,715) | $ 31,336 | $ (31,336) | |||||||||||
Shareholders' equity | 3,446,886 | 11,005 | 1,005 | 658,918 | 3,020,596 | (244,638) | |||||||||
Shareholders' equity | 3,488,954 | 10,623 | 1,005 | 493,962 | 3,218,551 | (235,187) | |||||||||
Net income | 230,718 | ||||||||||||||
Other comprehensive income (loss), net of tax | 54,456 | 54,456 | |||||||||||||
Stock repurchased during period | (190,500) | (190,530) | (448) | $ (190,082) | |||||||||||
Cash dividends | (8,181) | (804) | (8,181) | (804) | |||||||||||
Shareholders' equity | 3,523,309 | 10,380 | 1,005 | 393,449 | 3,325,335 | (206,860) | |||||||||
Net income | 119,359 | 119,359 | |||||||||||||
Other comprehensive income (loss), net of tax | 26,129 | 26,129 | |||||||||||||
Stock repurchased during period | (89,800) | (89,774) | (205) | $ (89,569) | |||||||||||
Cash dividends | $ (4,008) | $ (402) | $ (4,008) | $ (402) | |||||||||||
Shareholders' equity | $ 3,574,613 | $ 10,175 | $ 1,005 | $ 303,880 | $ 3,440,284 | $ (180,731) |
Consolidated Statements of Ch_2
Consolidated Statements of Changes In Shareholders' Equity (Parenthetical) - $ / shares | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Stock repurchased during period (in shares) | 205,500 | 448,500 | ||
Statement of Stockholders' Equity [Abstract] | ||||
Cash dividends (in dollars per share) | $ 0.40 | $ 0.35 | $ 0.80 | $ 0.70 |
Common Stock | Class A Common Stock | ||||
Stock repurchased during period (in shares) | 205,500 | 0 | 448,500 | 0 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2019 | Jun. 30, 2018 | |
OPERATING ACTIVITIES | ||
Net income | $ 230,718 | $ 193,522 |
Adjustments to reconcile net income to cash provided by operating activities: | ||
Provision (credit) for loan and lease losses | 16,948 | 16,043 |
Deferred tax expense (benefit) | 5,126 | (2,835) |
Net change in current taxes | (23,826) | (16,609) |
Depreciation | 50,574 | 47,343 |
Net (decrease) increase in accrued interest payable | 10,485 | (2,043) |
Net (increase) decrease in income earned not collected | (1,747) | (1,601) |
Securities gains, net | (5,719) | 0 |
Marketable equity securities gain (loss), net | (14,472) | (5,411) |
Gain on extinguishment of debt | 0 | (25,814) |
Origination of loans held for sale | (328,481) | (304,580) |
Proceeds from sale of loans held for sale | 326,640 | 302,766 |
Gain on sale of loans held for sale | (6,096) | (5,610) |
Gain on sale of portfolio loans | (299) | 0 |
Net writedowns/losses on other real estate | 1,417 | 2,698 |
(Gain) loss on sales of premises and equipment | 716 | 991 |
Net accretion of premiums and discounts | (19,765) | (17,240) |
Amortization of intangible assets | 12,019 | 11,562 |
Net change in FDIC payable for shared-loss agreements | 3,274 | 2,145 |
Net change in mortgage servicing rights | (2,283) | (2,630) |
Net change in other assets | (13,091) | 313,265 |
Net change in other liabilities | (22,373) | 14,998 |
Net cash provided by operating activities | 219,765 | 520,960 |
INVESTING ACTIVITIES | ||
Net increase in loans outstanding | (168,572) | (360,764) |
Purchases of investment securities available for sale | (1,553,876) | (920,357) |
Purchases of investment securities held to maturity | (183,288) | 0 |
Purchases of marketable equity securities | (14,108) | (2,818) |
Proceeds from maturities/calls of investment securities held to maturity | 190,644 | 78,384 |
Proceeds from maturities/calls of investment securities available for sale | 1,061,895 | 797,739 |
Proceeds from sales of investment securities available for sale | 610,787 | 119,273 |
Proceeds from sales of marketable equity securities | 10,694 | 8,493 |
Net decrease (increase) in overnight investments | (840,371) | 175,009 |
Proceeds from sales of portfolio loans | 24,247 | 0 |
Proceeds from sales of other real estate | 11,884 | 15,769 |
Proceeds from sales of premises and equipment | 75 | 198 |
Purchases of premises and equipment | (54,873) | (60,594) |
Business acquisitions, net of cash acquired | (73,792) | (106,298) |
Net cash used in investing activities | (978,654) | (255,966) |
FINANCING ACTIVITIES | ||
Net decrease in time deposits | 291,930 | (181,889) |
Net increase in demand and other interest-bearing deposits | 762,021 | 704,909 |
Net decrease in short-term borrowings | (109,109) | (201,303) |
Repayment of long-term obligations | (33,008) | (653,929) |
Repurchase of common stock | (186,995) | 0 |
Cash dividends paid | (9,243) | (8,407) |
Net cash (used in) provided by financing activities | 715,596 | (340,619) |
Change in cash and due from banks | (43,293) | (75,625) |
Cash and due from banks at beginning of period | 327,440 | 336,150 |
Cash and due from banks at end of period | 284,147 | 260,525 |
SUPPLEMENTAL DISCLOSURE OF NONCASH INVESTING AND FINANCING ACTIVITIES: | ||
Transfers of loans to other real estate | 5,710 | 11,868 |
Dividends declared but not paid | 4,410 | 4,204 |
Unsettled maturities of investment securities | 150,122 | 0 |
Unsettled purchases of investment securities | 1,126 | 0 |
Reclassification of portfolio loans to loans held for sale | (23,948) | 0 |
Reclassification of loans held for sale to portfolio | 605 | 0 |
Transfers of premises and equipment to other real estate | 2,184 | 0 |
Transfer of investment securities available for sale to held to maturity | 0 | 2,486,761 |
Unsettled common stock repurchases | 3,535 | 0 |
Initial recognition of operating lease assets | 70,652 | 0 |
Initial recognition of operating lease liabilities | $ 71,793 | $ 0 |
Accounting Policies and Basis o
Accounting Policies and Basis of Presentation | 6 Months Ended |
Jun. 30, 2019 | |
Accounting Policies [Abstract] | |
Accounting Policies and Basis of Presentation | ACCOUNTING POLICIES AND BASIS OF PRESENTATION First Citizens BancShares, Inc. (BancShares) 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. General These consolidated financial statements and notes thereto are presented in accordance with instructions for Form 10-Q and Article 10 of Regulation S-X and, therefore, do not include all information and notes necessary for a complete presentation of financial position, results of operations and cash flow activity required in accordance with accounting principles generally accepted in the United States of America (GAAP). In the opinion of management, all normal recurring adjustments necessary for a fair presentation of the consolidated financial position and consolidated results of operations have been made. The unaudited interim consolidated financial statements included in this Form 10-Q should be read in conjunction with the consolidated financial statements and notes to consolidated financial statements included in BancShares' Annual Report on Form 10-K for the year ended December 31, 2018 . 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, Federal Deposit Insurance Corporation (FDIC) shared-loss payable, pension plan assumptions, goodwill and other intangible assets, and income taxes. Share Repurchases In October 2018, BancShares' Board of Directors (Board) authorized the repurchase of up to 800,000 of BancShares' Class A common stock for the period November 1, 2018 through October 31, 2019. The authorization does not obligate BancShares to repurchase any particular amount of shares, and repurchases may be suspended or discontinued at any time. During the second quarter of 2019, BancShares repurchased 205,500 shares of Class A common stock for $89.8 million at an average cost per share of $436.81 . During the first six months of 2019, BancShares repurchased a total of 448,500 shares of Class A common stock for $190.5 million at an average cost per share of $424.77 . As of June 30, 2019, a total of 630,500 shares have been repurchased under the current Board authority. There were no share repurchases made during the comparable periods in 2018. In April 2019, the Board authorized the repurchase of up to 800,000 of BancShares' Class A common stock for the period July 1, 2019 through June 30, 2020. This authorization was effective July 1, 2019 and supersedes the authorization approved in October 2018. Under this authorization and subsequent to quarter-end through August 2, 2019 , BancShares repurchased an additional 69,600 shares of Class A common stock for $31.7 million at an average cost per share of $455.94 . Recently Adopted Accounting Pronouncements Financial Accounting Standards Board (FASB) Accounting Standards Update (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 prior 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 previous 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. We adopted this standard, as of January 1, 2019, using the effective date method that allows for entities to initially apply the new leases standard at the adoption date. In addition, we made several policy elections permitted under the transition guidance, which among other things, allowed us to carry forward the historical lease classification. We determined that most renewal options would not be reasonably determinable in estimating the expected lease term. We made the policy election available under Topic 842 to combine lease and non-lease components and applied this practical expedient to leases in effect prior to the date of adoption. We will continue to apply the practical expedient to all leases entered into going forward. The adoption of the new standard had an impact on our Consolidated Balance Sheet as of January 1, 2019, with the recording of operating Right-of-Use (ROU) assets and operating lease liabilities of $70.7 million and $71.8 million , respectively. The operating lease liability includes a $1.1 million fair value adjustment for leases assumed in the acquisition of HomeBancorp, Inc. (HomeBancorp). In addition, at the adoption date we had finance lease ROU assets and finance lease liabilities, previously classified as capital leases, of $9.1 million and $8.3 million , respectively. The Company did not have a cumulative-effect adjustment to the opening balance of retained earnings at commencement. The Company has no related party lease agreements. This ASU did not have a material impact on our Consolidated Statements of Income. See Note N in the Consolidated Financial Statements for additional disclosures. 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 (1) expense capitalized implementation costs of a hosting arrangement that is a service contract over the term of the hosting arrangement (2) 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 (3) 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 (4) 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 adopted this standard effective July 1, 2019 on a prospective basis. BancShares is currently evaluating the impact of this ASU adoption, but does not anticipate a material impact on our Consolidated Financial Statements. 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 (1) the amount of and reasons for transfers between Level 1 and Level 2 of the fair value hierarchy (2) the policy for timing of transfers between levels and (3) the valuation processes for Level 3 fair value measurements. This ASU also added specific disclosure requirements for fair value measurements for public business 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 introduces a new credit loss methodology which requires earlier recognition of credit losses, replacing multiple existing impairment methods in current GAAP, which generally require that a loss be incurred before it is recognized. The amendments in this ASU require loss estimates be determined over the lifetime of the asset and broaden the information that an entity must consider in developing its expected credit losses. 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. 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. We have completed preliminary current expected credit losses (CECL) accounting interpretations, and continue to refine and test our models, estimation techniques, data, operational processes and controls to be used in preparing CECL loss estimates. During the remainder of 2019, we expect to address any gaps in our interpretations, including review of subsequent ASUs announced by the FASB regarding Topic 326, methodology, data and operational processes based upon our reviews and tests. BancShares continues to evaluate the impact of this standard on its consolidated financial statements but the magnitude of this impact has not been determined. The final impact will be dependent on, among other items, loan portfolio composition and credit quality at the adoption date, as well as economic conditions, financial models used and forecasts in place at that time. 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 in the first quarter of 2020 with a cumulative-effect adjustment to retained earnings as of the beginning of the year of adoption. |
Business Combinations
Business Combinations | 6 Months Ended |
Jun. 30, 2019 | |
Business Combinations [Abstract] | |
Business Combinations | BUSINESS COMBINATIONS Entegra Financial Corp. On April 23, 2019, FCB and Entegra Financial Corp. (Entegra) entered into a definitive merger agreement for the acquisition by FCB of Franklin, North Carolina-based Entegra and its bank subsidiary, Entegra Bank. Under the terms of the agreement, cash consideration of $30.18 per share will be paid to the shareholders of Entegra for each share of common stock and for each restricted stock unit after conversion to common stock, and each option to purchase Entegra common stock will be canceled and each option holder will receive a cash payment.The total transaction value is estimated to be approximately $219.8 million . The transaction is anticipated to close during the fourth quarter of 2019, subject to the receipt of regulatory approvals and the satisfaction of other customary closing conditions. As of June 30, 2019, Entegra reported $1.66 billion in consolidated assets, $1.25 billion in deposits and $1.09 billion in loans. First South Bancorp, Inc. On May 1, 2019, FCB completed the merger of Spartanburg, South Carolina-based First South Bancorp, Inc. (First South Bancorp) and its bank subsidiary, First South Bank. Under the terms of the agreement, cash consideration of $1.15 per share was paid to the shareholders of First South Bancorp for each share of common stock, totaling approximately $37.5 million . The merger allows FCB to expand its presence in South Carolina. The First South Bancorp 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. The fair value of the assets acquired was $239.2 million , including $162.8 million in non-purchased credit impaired (non-PCI) loans, $16.4 million in purchased credit impaired (PCI) loans and $2.3 million in a core deposit intangible. Liabilities assumed were $215.6 million , of which $207.6 million were deposits. As a result of the transaction, FCB recorded $13.9 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 was deductible for income tax purposes as the merger was 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 $ 37,486 Assets Cash and due from banks $ 4,633 Overnight investments 3,188 Investment securities 23,512 Loans 179,243 Premises and equipment 4,944 Other real estate owned 1,567 Income earned not collected 604 Intangible assets 2,268 Other assets 19,192 Total assets acquired 239,151 Liabilities Deposits 207,556 Borrowings 5,155 Other liabilities 2,850 Total liabilities assumed $ 215,561 Fair value of net assets acquired 23,590 Goodwill recorded for First South Bancorp $ 13,896 Merger-related expenses of $1.2 million and $1.4 million were recorded in the Consolidated Statements of Income for the three and six months ended June 30, 2019 , respectively. Loan-related interest income generated from First South Bancorp was approximately $1.7 million since the acquisition date. The ongoing contributions of this transaction to BancShares' financial statements is not considered material, and therefore pro forma financial data is not included. Biscayne Bancshares, Inc. On April 2, 2019 , FCB completed the merger of Coconut Grove, Florida-based Biscayne Bancshares, Inc. (Biscayne Bancshares) and its bank subsidiary, Biscayne Bank. Under the terms of the agreement, cash consideration of $25.05 per share was paid to the shareholders of Biscayne Bancshares for each share of common stock, totaling approximately $118.9 million . The merger will allow FCB to expand its presence in Florida and enhance banking efforts in South Florida. The Biscayne Bancshares 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. The fair value of the assets acquired was $1.03 billion , including $850.4 million in non-purchased credit impaired (non-PCI) loans, $13.0 million in purchased credit impaired (PCI) loans and $4.7 million in a core deposit intangible. Liabilities assumed were $956.8 million , of which $786.5 million were deposits. As a result of the transaction, FCB recorded $46.5 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 was deductible for income tax purposes as the merger was 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 $ 118,949 Assets Cash and due from banks $ 78,010 Overnight investments 306 Investment securities held to maturity 34,539 Loans 863,384 Premises and equipment 1,533 Other real estate owned 2,046 Income earned not collected 3,049 Intangible assets 4,745 Other assets 41,572 Total assets acquired 1,029,184 Liabilities Deposits 786,512 Borrowings 157,415 Other liabilities 12,829 Total liabilities assumed $ 956,756 Fair value of net assets acquired 72,428 Goodwill recorded for Biscayne Bancshares $ 46,521 Merger-related expenses of $2.2 million and $3.0 million were recorded in the Consolidated Statements of Income for the three and six months ended June 30, 2019 , respectively. Loan-related interest income generated from Biscayne Bancshares was approximately $11.5 million since the acquisition date. The ongoing contributions of this transaction to BancShares' financial statements is not considered material, and therefore pro forma financial data is not included. |
Loans and Leases
Loans and Leases | 6 Months Ended |
Jun. 30, 2019 | |
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-purchased credit impaired (Non-PCI) or purchased credit impaired (PCI). Loans that were originated by FCB, as well as 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 FCB will be unable to collect all contractually required payments, are classified as PCI. Additionally, at the date of acquisition, all acquired loans are recorded at fair value with no corresponding allowance for loan and lease losses. Loans and leases outstanding included the following at June 30, 2019 and December 31, 2018 : (Dollars in thousands) June 30, 2019 December 31, 2018 Non-PCI loans and leases: Commercial: Construction and land development $ 719,534 $ 757,854 Commercial mortgage 11,336,684 10,717,234 Other commercial real estate 506,760 426,985 Commercial and industrial and leases 3,980,504 3,938,730 Other 301,346 296,424 Total commercial loans 16,844,828 16,137,227 Noncommercial: Residential mortgage 4,790,636 4,265,687 Revolving mortgage 2,470,653 2,542,975 Construction and land development 315,071 257,030 Consumer 1,755,602 1,713,781 Total noncommercial loans 9,331,962 8,779,473 Total non-PCI loans and leases 26,176,790 24,916,700 PCI loans: Total PCI loans 551,447 606,576 Total loans and leases $ 26,728,237 $ 25,523,276 At June 30, 2019 , $9.16 billion in non-PCI loans with a lendable collateral value of $6.45 billion were used to secure $183.7 million in Federal Home Loan Bank (FHLB) of Atlanta advances and $13.5 million in FHLB of Chicago advances, resulting in additional borrowing capacity of $6.26 billion . At December 31, 2018 , $9.12 billion in non-PCI 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 June 30, 2019 , $2.73 billion in non-PCI loans with a lendable collateral value of $2.09 billion were used to secure additional borrowing capacity at the Federal Reserve Bank (FRB). At December 31, 2018 , $2.94 billion in non-PCI loans with a lendable collateral value of $2.19 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. In addition, we may change our strategy for certain portfolio loans and decide to sell them in the secondary market. At that time, portfolio loans are transferred to loans held for sale at fair value. Since December 31, 2018 , $23.9 million in portfolio loans were transfered to held for sale and subsequently sold. Loans held for sale totaled $52.8 million and $45.5 million at June 30, 2019 and December 31, 2018 , respectively. Net deferred fees on non-PCI loans and leases, including unearned income as well as unamortized costs and fees, were $0.5 million and $0.1 million at June 30, 2019 and December 31, 2018 , respectively. The net unamortized discount related to purchased non-PCI loans and leases was $35.7 million at June 30, 2019 and $33.3 million at December 31, 2018 . During the three months ended June 30, 2019 and June 30, 2018 , accretion income on purchased non-PCI loans and leases was $3.3 million and $4.1 million , respectively. During the six months ended June 30, 2019 and June 30, 2018 , accretion income on purchased non-PCI loans and leases was $6.5 million and $7.0 million , respectively. 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. Commercial credit cards are included in the Commercial and industrial and leases segment, but are not specifically graded as with other commercial 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 June 30, 2019 and December 31, 2018 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. Non-PCI loans and leases outstanding at June 30, 2019 and December 31, 2018 by credit quality indicator are provided below: June 30, 2019 (Dollars in thousands) Non-PCI commercial loans and leases Grade: Construction and Commercial mortgage Other commercial real estate Commercial and industrial and leases Other Total non-PCI commercial loans and leases Pass $ 716,068 $ 11,093,853 $ 502,168 $ 3,825,956 $ 300,335 $ 16,438,380 Special mention 1,016 111,721 3,575 46,960 470 163,742 Substandard 2,450 131,110 1,017 38,080 541 173,198 Doubtful — — — 96 — 96 Ungraded — — — 69,412 — 69,412 Total $ 719,534 $ 11,336,684 $ 506,760 $ 3,980,504 $ 301,346 $ 16,844,828 December 31, 2018 (Dollars in thousands) Non-PCI commercial loans and leases Grade: Construction and Commercial mortgage Other commercial real estate Commercial and industrial and leases 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 June 30, 2019 Non-PCI noncommercial loans and leases (Dollars in thousands) Residential Revolving Construction Consumer Total non-PCI noncommercial loans and leases Current $ 4,736,063 $ 2,444,047 $ 312,985 $ 1,740,946 $ 9,234,041 30-59 days past due 26,250 14,044 255 8,645 49,194 60-89 days past due 13,109 3,207 214 3,099 19,629 90 days or greater past due 15,214 9,355 1,617 2,912 29,098 Total $ 4,790,636 $ 2,470,653 $ 315,071 $ 1,755,602 $ 9,331,962 December 31, 2018 Non-PCI noncommercial loans and leases (Dollars in thousands) Residential Revolving Construction Consumer Total non-PCI noncommercial loans and leases 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 PCI loans outstanding at June 30, 2019 and December 31, 2018 by credit quality indicator are provided below: June 30, 2019 December 31, 2018 (Dollars in thousands) PCI commercial Loans Grade: Pass $ 138,300 $ 141,922 Special mention 44,324 48,475 Substandard 90,019 101,447 Doubtful 2,994 4,828 Total $ 275,637 $ 296,672 June 30, 2019 December 31, 2018 (Dollars in thousands) PCI noncommercial Loans Current $ 244,196 $ 268,280 30-59 days past due 8,691 11,155 60-89 days past due 4,763 7,708 90 days or greater past due 18,160 22,761 Total $ 275,810 $ 309,904 The aging of the outstanding non-PCI loans and leases, by class, at June 30, 2019 and December 31, 2018 are provided in the tables below. Loans and leases past due 30 days or less 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. June 30, 2019 (Dollars in thousands) 30-59 days 60-89 days 90 days or greater Total past Current Total loans Non-PCI loans and leases: Commercial: Construction and land development $ 1,468 $ 1,757 $ 1,563 $ 4,788 $ 714,746 $ 719,534 Commercial mortgage 14,025 9,073 7,213 30,311 11,306,373 11,336,684 Other commercial real estate — 698 — 698 506,062 506,760 Commercial and industrial and leases 13,227 3,196 3,860 20,283 3,960,221 3,980,504 Other 68 5 — 73 301,273 301,346 Total commercial loans 28,788 14,729 12,636 56,153 16,788,675 16,844,828 Noncommercial: Residential mortgage 26,250 13,109 15,214 54,573 4,736,063 4,790,636 Revolving mortgage 14,044 3,207 9,355 26,606 2,444,047 2,470,653 Construction and land development 255 214 1,617 2,086 312,985 315,071 Consumer 8,645 3,099 2,912 14,656 1,740,946 1,755,602 Total noncommercial loans 49,194 19,629 29,098 97,921 9,234,041 9,331,962 Total non-PCI loans and leases $ 77,982 $ 34,358 $ 41,734 $ 154,074 $ 26,022,716 $ 26,176,790 December 31, 2018 (Dollars in thousands) 30-59 days 60-89 days 90 days or greater Total past Current Total loans Non-PCI loans and leases: Commercial: Construction and land development $ 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 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 The recorded investment, by class, in non-PCI loans and leases on nonaccrual status, and loans and leases greater than 90 days past due and still accruing at June 30, 2019 and December 31, 2018 , were as follows: June 30, 2019 December 31, 2018 (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 Commercial: Construction and land development $ 1,634 $ — $ 666 $ — Commercial mortgage 20,859 440 12,594 — Commercial and industrial and leases 5,944 703 4,624 808 Other commercial real estate 179 — 366 — Other 230 — 279 — Total commercial loans 28,846 1,143 18,529 808 Noncommercial: Construction and land development 1,786 — 1,823 — Residential mortgage 43,467 297 35,662 — Revolving mortgage 24,145 34 25,563 — Consumer 2,457 1,994 2,969 2,080 Total noncommercial loans 71,855 2,325 66,017 2,080 Total non-PCI loans and leases $ 100,701 $ 3,468 $ 84,546 $ 2,888 Purchased non-PCI loans and leases The following table relates to purchased non-PCI loans acquired in the Biscayne Bancshares and First South Bancorp transactions and provides the contractually required payments, estimate of contractual cash flows not expected to be collected and fair value of the acquired loans at the acquisition date: (Dollars in thousands) Biscayne Bancshares First South Bancorp Contractually required payments $ 1,078,854 $ 175,465 Fair value at acquisition date 850,352 162,845 The recorded fair values of purchased non-PCI loans acquired in the Biscayne Bancshares and First South Bancorp transactions as of the acquisition date are as follows: (Dollars in thousands) Biscayne Bancshares First South Bancorp Commercial: Construction and land development $ 15,647 $ 8,663 Commercial mortgage 203,605 74,713 Other commercial real estate 98,107 7,509 Commercial and industrial and leases 28,135 40,208 Total commercial loans 345,494 131,093 Noncommercial: Residential mortgage 405,419 24,641 Revolving mortgage 54,081 2,162 Construction and land development 31,668 3,552 Consumer 13,690 1,397 Total noncommercial loans 504,858 31,752 Total non-PCI loans $ 850,352 $ 162,845 Purchased credit-impaired loans The following table relates to PCI loans acquired in the Biscayne Bancshares and First South Bancorp transactions and 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 acquisition date: (Dollars in thousands) Biscayne Bancshares First South Bancorp Contractually required payments $ 19,720 $ 23,389 Contractual cash flows expected to be collected 16,815 21,392 Fair value at acquisition date 13,032 16,398 The recorded fair values of PCI loans acquired in the Biscayne Bancshares and First South Bancorp transactions as of the acquisition date are as follows: (Dollars in thousands) Biscayne Bancshares First South Bancorp Commercial: Construction and land development $ — $ 1,233 Commercial mortgage 7,589 9,355 Commercial and industrial and leases 1,660 1,202 Total commercial loans 9,249 11,790 Noncommercial: Residential mortgage 3,783 4,591 Construction and land development — 17 Total noncommercial loans 3,783 4,608 Total PCI loans $ 13,032 $ 16,398 The following table provides changes in the carrying value of all PCI loans during the six months ended June 30, 2019 and June 30, 2018 : (Dollars in thousands) 2019 2018 Balance at January 1 $ 606,576 $ 762,998 Fair value of acquired loans 29,430 15,555 Accretion 29,648 32,188 Payments received and other changes, net (114,207 ) (136,472 ) Balance at June 30 $ 551,447 $ 674,269 Unpaid principal balance at June 30 $ 805,754 $ 1,044,148 The carrying value of PCI loans on the cost recovery method was $3.3 million at both June 30, 2019 and December 31, 2018 . The cost recovery method is applied to loans when the timing of future cash flows cannot be reasonably estimated due to borrower nonperformance or uncertainty in the ultimate disposition of the asset. The recorded investment of PCI loans on nonaccrual status was $4.3 million and $1.3 million at June 30, 2019 and December 31, 2018 , respectively. The remaining discount on PCI loans was $93.0 million and $95.5 million at June 30, 2019 and December 31, 2018 , respectively. During the three months ended June 30, 2019 and June 30, 2018 , accretion income on PCI loans was $11.9 million and $14.2 million , respectively. During the six months ended June 30, 2019 and June 30, 2018 , accretion income on PCI loans was $29.6 million and $32.2 million , respectively. For PCI loans, improved credit loss expectations generally result in the reclassification of nonaccretable difference to accretable yield. Changes in expected cash flow not related to credit improvements or deterioration do not affect the nonaccretable difference. The following table documents changes to the amount of accretable yield for the first six months of 2019 and 2018 : (Dollars in thousands) 2019 2018 Balance at January 1 $ 312,894 $ 316,679 Additions from Biscayne Bancshares and First South Bancorp acquisitions 8,777 — Additions from Homebancorp acquisition — 4,142 Accretion (29,648 ) (32,188 ) Reclassifications from nonaccretable difference 3,695 6,899 Changes in expected cash flows that do not affect nonaccretable difference (15,682 ) 48,988 Balance at June 30 $ 280,036 $ 344,520 |
Allowance for Loan and Lease Lo
Allowance for Loan and Lease Losses | 6 Months Ended |
Jun. 30, 2019 | |
Receivables [Abstract] | |
Allowance | NOTE E - ALLOWANCE FOR LOAN AND LEASE LOSSES (ALLL) Activity in the allowance for non-PCI loan and lease losses by class of loans is summarized as follows: Three months ended June 30, 2019 (Dollars in thousands) Construction Commercial Other Commercial Other Residential Revolving Construction Consumer Total Non-PCI Loans Allowance for loan and lease losses: Balance at April 1 $ 37,476 $ 45,281 $ 2,399 $ 57,025 $ 2,167 $ 16,987 $ 21,495 $ 2,473 $ 34,492 $ 219,795 Provision (credits) (5,544 ) 3,714 (57 ) 2,699 (174 ) 371 (328 ) 277 4,877 5,835 Charge-offs (28 ) (89 ) — (3,422 ) (31 ) (478 ) (493 ) — (6,061 ) (10,602 ) Recoveries 40 56 — 599 221 52 447 — 1,797 3,212 Balance at June 30 $ 31,944 $ 48,962 $ 2,342 $ 56,901 $ 2,183 $ 16,932 $ 21,121 $ 2,750 $ 35,105 $ 218,240 Three months ended June 30, 2018 (Dollars in thousands) Construction Commercial Other Commercial Other Residential Revolving Construction Consumer Total Balance at April 1 $ 26,718 $ 43,833 $ 3,423 $ 59,317 $ 4,842 $ 16,489 $ 22,104 $ 3,913 $ 30,181 $ 210,820 Provision (credits) (3,139 ) 866 468 3,791 (114 ) 1,492 289 50 4,574 8,277 Charge-offs (8 ) (459 ) (69 ) (2,439 ) (38 ) (289 ) (1,027 ) (37 ) (5,312 ) (9,678 ) Recoveries 93 225 1 642 1 110 520 101 1,330 3,023 Balance at June 30 $ 23,664 $ 44,465 $ 3,823 $ 61,311 $ 4,691 $ 17,802 $ 21,886 $ 4,027 $ 30,773 $ 212,442 Six months ended June 30, 2019 (Dollars in thousands) Construction Commercial Other Commercial Other Residential Revolving Construction Consumer Total Balance at January 1 $ 35,270 $ 43,451 $ 2,481 $ 55,620 $ 2,221 $ 15,472 $ 21,862 $ 2,350 $ 35,841 $ 214,568 Provision (credits) (3,425 ) 6,085 (140 ) 5,424 (672 ) 1,879 (119 ) 400 8,317 17,749 Charge-offs (72 ) (850 ) — (5,280 ) (31 ) (644 ) (1,456 ) — (12,423 ) (20,756 ) Recoveries 171 276 1 1,137 665 225 834 — 3,370 6,679 Balance at June 30 $ 31,944 $ 48,962 $ 2,342 $ 56,901 $ 2,183 $ 16,932 $ 21,121 $ 2,750 $ 35,105 $ 218,240 Six months ended June 30, 2018 (Dollars in thousands) Construction Commercial Other Commercial Other Residential Revolving Construction Consumer Total Balance at January 1 $ 24,470 $ 45,005 $ 4,571 $ 59,824 $ 4,689 $ 15,706 $ 22,436 $ 3,962 $ 31,204 $ 211,867 Provision (credits) (914 ) (499 ) (825 ) 4,353 — 3,004 755 157 7,497 13,528 Charge-offs (8 ) (505 ) (69 ) (4,768 ) (41 ) (1,095 ) (2,019 ) (219 ) (10,567 ) (19,291 ) Recoveries 116 464 146 1,902 43 187 714 127 2,639 6,338 Balance at June 30 $ 23,664 $ 44,465 $ 3,823 $ 61,311 $ 4,691 $ 17,802 $ 21,886 $ 4,027 $ 30,773 $ 212,442 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 June 30, 2019 and December 31, 2018 : June 30, 2019 (Dollars in thousands) Construction Commercial Other Commercial Other Residential Revolving Construction Consumer Total Non-PCI Loans Allowance for loan and lease losses: ALLL for loans and leases individually evaluated for impairment $ 196 $ 3,042 $ 11 $ 1,422 $ 104 $ 2,566 $ 2,704 $ 82 $ 971 $ 11,098 ALLL for loans and leases collectively evaluated for impairment 31,748 45,920 2,331 55,479 2,079 14,366 18,417 2,668 34,134 207,142 Total allowance for loan and lease losses $ 31,944 $ 48,962 $ 2,342 $ 56,901 $ 2,183 $ 16,932 $ 21,121 $ 2,750 $ 35,105 $ 218,240 Loans and leases: Loans and leases individually evaluated for impairment $ 2,078 $ 62,270 $ 506 $ 12,161 $ 315 $ 53,137 $ 30,040 $ 3,059 $ 3,107 $ 166,673 Loans and leases collectively evaluated for impairment 717,456 11,274,414 506,254 3,968,343 301,031 4,737,499 2,440,613 312,012 1,752,495 26,010,117 Total loan and leases $ 719,534 $ 11,336,684 $ 506,760 $ 3,980,504 $ 301,346 $ 4,790,636 $ 2,470,653 $ 315,071 $ 1,755,602 $ 26,176,790 December 31, 2018 (Dollars in thousands) Construction Commercial Other Commercial Other Residential Revolving Construction 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 PCI allowance activity and balances for the three and six months ended June 30, 2019 and June 30, 2018 is summarized as follows: (Dollars in thousands) Three months ended June 30, 2019 Three months ended June 30, 2018 PCI Loans Allowance for loan losses: Balance at April 1 $ 8,980 $ 12,296 (Credit) provision (637 ) 161 Charge-offs — (34 ) Recoveries — — Balance at June 30 $ 8,343 $ 12,423 Six months ended June 30, 2019 Six months ended June 30, 2018 Balance at January 1 $ 9,144 $ 10,026 (Credit) provision (801 ) 2,515 Charge-offs — (118 ) Recoveries — — Balance at June 30 $ 8,343 $ 12,423 The following table presents the PCI allowance and recorded investment in loans at June 30, 2019 and December 31, 2018 : (Dollars in thousands) June 30, 2019 December 31, 2018 ALLL for loans acquired with deteriorated credit quality $ 8,343 $ 9,144 Loans acquired with deteriorated credit quality 551,447 606,576 At June 30, 2019 and December 31, 2018 , $163.9 million and $186.6 million , respectively, in PCI loans experienced an adverse change in expected cash flows since the date of acquisition. The following tables provide information on non-PCI impaired loans and leases, exclusive of loans and leases evaluated collectively as a homogeneous group: June 30, 2019 (Dollars in thousands) With a With no Total Unpaid Related Non-PCI impaired loans and leases: Commercial: Construction and land development $ 463 $ 1,615 $ 2,078 $ 2,490 $ 196 Commercial mortgage 38,793 23,477 62,270 68,477 3,042 Other commercial real estate 197 309 506 595 11 Commercial and industrial and leases 8,155 4,006 12,161 17,333 1,422 Other 249 66 315 336 104 Total commercial loans 47,857 29,473 77,330 89,231 4,775 Noncommercial: Residential mortgage 43,349 9,788 53,137 56,860 2,566 Revolving mortgage 26,104 3,936 30,040 33,135 2,704 Construction and land development 1,647 1,412 3,059 3,353 82 Consumer 3,039 68 3,107 3,476 971 Total noncommercial loans 74,139 15,204 89,343 96,824 6,323 Total non-PCI impaired loans and leases $ 121,996 $ 44,677 $ 166,673 $ 186,055 $ 11,098 December 31, 2018 (Dollars in thousands) With a With no Total Unpaid Related Non-PCI impaired loans and leases: Commercial: Construction and land development $ 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 Total commercial loans 43,686 24,955 68,641 79,865 4,445 Noncommercial: 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 2,337 1,412 3,749 4,035 81 Consumer 2,940 80 3,020 3,405 885 Total noncommercial loans 71,387 6,402 77,789 84,037 5,382 Total non-PCI impaired loans and leases $ 115,073 $ 31,357 $ 146,430 $ 163,902 $ 9,827 Non-PCI impaired loans less than $500,000 that were collectively evaluated for impairment totaled $39.9 million and $47.1 million at June 30, 2019 and December 31, 2018 , respectively. The following tables show the average non-PCI impaired loan balance and the interest income recognized by loan class for the three and six months ended June 30, 2019 and June 30, 2018 : Three months ended June 30, 2019 Three months ended June 30, 2018 (Dollars in thousands) Average Interest income recognized Average Interest income recognized Non-PCI impaired loans and leases: Commercial: Construction and land development $ 2,102 $ 6 $ 1,485 $ 17 Commercial mortgage 58,906 538 68,113 659 Other commercial real estate 519 6 1,345 12 Commercial and industrial and leases 11,348 113 9,427 90 Other 328 2 67 — Total commercial 73,203 665 80,437 778 Noncommercial: Residential mortgage 48,490 317 42,046 298 Revolving mortgage 29,623 256 26,388 222 Construction and land development 3,547 32 3,526 44 Consumer 3,014 31 2,654 28 Total noncommercial 84,674 636 74,614 592 Total non-PCI impaired loans and leases $ 157,877 $ 1,301 $ 155,051 $ 1,370 Six months ended June 30, 2019 Six months ended June 30, 2018 (Dollars in thousands) Average Interest income recognized Average Interest income recognized Non-PCI impaired loans and leases: Commercial: Construction and land development $ 2,125 $ 34 $ 1,320 $ 28 Commercial mortgage 57,768 1,102 70,190 1,370 Other commercial real estate 602 14 1,529 23 Commercial and industrial and leases 10,674 213 9,594 177 Other 322 4 34 — Total commercial 71,491 1,367 82,667 1,598 Noncommercial: Residential mortgage 45,558 642 40,385 573 Revolving mortgage 29,183 503 25,590 423 Construction and land development 3,647 68 3,815 92 Consumer 3,007 60 2,581 56 Total noncommercial 81,395 1,273 72,371 1,144 Total non-PCI impaired loans and leases $ 152,886 $ 2,640 $ 155,038 $ 2,742 Troubled Debt Restructurings BancShares accounts for certain loan modifications or restructurings as troubled debt restructurings (TDRs). In general, the modification or restructuring of a loan is considered a TDR if, for economic reasons or legal reasons related to a borrower's financial difficulties, a concession is granted to the borrower that creditors would not otherwise consider. Concessions may relate to the contractual interest rate, maturity date, payment structure or other actions. The majority of TDRs are included in the special mention, substandard or doubtful credit quality indicators, which results in more elevated loss expectations when projecting the expected cash flows that are used to determine the allowance for loan losses associated with these loans. The lower the credit quality indicator, the lower the estimated expected cash flows and the greater the allowance recorded. All TDRs are individually evaluated for impairment through review of collateral values or analysis of cash flows at least annually. The following table provides a summary of total TDRs by accrual status. Total TDRs included $18.0 million and $18.2 million of PCI TDRs at June 30, 2019 and December 31, 2018 , respectively: June 30, 2019 December 31, 2018 (Dollars in thousands) Accruing Nonaccruing Total Accruing Nonaccruing Total Commercial loans: Construction and land development $ 567 $ 1,626 $ 2,193 $ 1,946 $ 352 $ 2,298 Commercial mortgage 51,374 7,886 59,260 53,270 7,795 61,065 Other commercial real estate 506 — 506 851 9 860 Commercial and industrial and leases 9,851 2,345 12,196 7,986 2,060 10,046 Other 107 208 315 118 173 291 Total commercial loans 62,405 12,065 74,470 64,171 10,389 74,560 Noncommercial: Residential mortgage 36,260 17,839 54,099 37,903 9,621 47,524 Revolving mortgage 21,203 8,919 30,122 20,492 8,196 28,688 Construction and land development 1,495 1,565 3,060 2,227 110 2,337 Consumer 2,437 669 3,106 2,300 721 3,021 Total noncommercial loans 61,395 28,992 90,387 62,922 18,648 81,570 Total loans $ 123,800 $ 41,057 $ 164,857 $ 127,093 $ 29,037 $ 156,130 The following table provides the types of TDRs made during the three and six months ended June 30, 2019 and June 30, 2018 , as well as a summary of loans that were modified as a TDR during the twelve month periods ended June 30, 2019 and June 30, 2018 that subsequently defaulted during the three and six months ended June 30, 2019 and June 30, 2018 . BancShares defines payment default as movement of the TDR to nonaccrual status, which is generally 90 days past due for TDRs, foreclosure or charge-off, whichever occurs first. Three months ended June 30, 2019 Three months ended June 30, 2018 All restructurings Restructurings with payment default All restructurings Restructurings with payment default (Dollars in thousands) 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 Loans and leases Interest only 4 $ 4,343 — $ — 1 $ 154 2 $ 821 Loan term extension 4 998 2 183 10 936 7 341 Below market interest rate 67 6,979 30 2,612 53 9,525 33 1,702 Discharged from bankruptcy 40 5,054 30 3,106 37 2,472 24 1,490 Total restructurings 115 $ 17,374 62 $ 5,901 101 $ 13,087 66 $ 4,354 Six months ended June 30, 2019 Six months ended June 30, 2018 All restructurings Restructurings with payment default All restructurings Restructurings with payment default (Dollars in thousands) 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 Loans and leases Interest only 4 $ 4,343 2 $ 3,203 2 $ 821 2 $ 821 Loan term extension 8 1,437 4 534 17 1,658 8 638 Below market interest rate 125 11,063 61 4,645 139 15,873 64 3,385 Discharged from bankruptcy 102 7,679 53 3,948 91 5,595 55 4,338 Total restructurings 239 $ 24,522 120 $ 12,330 249 $ 23,947 129 $ 9,182 For the three and six months ended June 30, 2019 and June 30, 2018 , the pre-modification and post-modification outstanding recorded investments of loans modified as TDRs were not materially different. |
Other Real Estate Owned
Other Real Estate Owned | 6 Months Ended |
Jun. 30, 2019 | |
Banking and Thrift [Abstract] | |
Real Estate Owned [Text Block] | NOTE F - OTHER REAL ESTATE OWNED (OREO) The following table explains changes in OREO during the six months ended June 30, 2019 and June 30, 2018 : (Dollars in thousands) Total Balance at December 31, 2018 $ 48,030 Additions 7,894 Acquired 3,613 Sales (11,012 ) Write-downs (2,289 ) Balance at June 30, 2019 $ 46,236 Balance at December 31, 2017 $ 51,097 Additions 11,868 Acquired 2,135 Sales (15,769 ) Write-downs (2,698 ) Balance at June 30, 2018 $ 46,633 At June 30, 2019 and December 31, 2018 , BancShares had $17.7 million and $17.2 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 $22.8 million and $22.0 million at June 30, 2019 and December 31, 2018 |
FDIC Shared-Loss Receivable
FDIC Shared-Loss Receivable | 6 Months Ended |
Jun. 30, 2019 | |
FDIC Shared-Loss Receivable [Abstract] | |
FDIC Shared-Loss Receivable | FDIC SHARED-LOSS PAYABLE As of June 30, 2019 , shared-loss protection remains for single family residential loans acquired in the amount o f $50.2 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 and is recorded in the Consolidated Balance Sheets as a payable to the FDIC under the relevant shared-loss agreements. The clawback liability payment dates are March 2020 and March 2021. The following table provides changes in the FDIC shared-loss payable since December 31, 2018 : (Dollars in thousands) Total Balance at December 31, 2018 $ 105,618 Accretion 3,274 Balance at June 30, 2019 $ 108,892 |
Mortgage Servicing Rights
Mortgage Servicing Rights | 6 Months Ended |
Jun. 30, 2019 | |
Mortgage Servicing Rights [Abstract] | |
Transfers and Servicing of Financial Assets [Text Block] | Our portfolio of residential mortgage loans serviced for third parties was $3.01 billion and $2.95 billion as of June 30, 2019 and December 31, 2018 , respectively. These loans are originated by BancShares and sold to third parties on a non-recourse basis with servicing rights retained. The retained servicing rights were recorded as a servicing asset and reported in other intangible assets on the Consolidated Balance Sheets, and the associated amortization expense and any valuation allowance recognized was included as a reduction of mortgage income in the Consolidated Statements of Income. The mortgage servicing rights were initially recorded at fair value and then carried at the lower of amortized cost or fair value. Contractually specified mortgage servicing fees, late fees, and ancillary fees earned for the three months ended June 30, 2019 and 2018 were $2.0 million and $1.9 million , respectively, and reported in mortgage income in the Consolidated Statements of Income. For the six months ended June 30, 2019 and 2018 , contractually specified mortgage servicing fees, late fees, and ancillary fees earned were $3.9 million and $3.8 million , respectively. The following table explains changes in the servicing asset during the three and six months ended June 30 , 2019 and 2018 : Three months ended June 30 Six months ended June 30 (Dollars in thousands) 2019 2018 2019 2018 Beginning balance $ 20,647 $ 21,659 $ 21,396 $ 21,945 Servicing rights originated 1,552 1,430 2,411 2,630 Amortization (1,567 ) (1,432 ) (3,014 ) (2,918 ) Valuation allowance credit (provision) 33 — (128 ) — Ending balance $ 20,665 $ 21,657 $ 20,665 $ 21,657 BancShares released $33.0 thousand of the valuation allowance for the three months ended June 30 , 2019 and recorded provision expense of $128.0 thousand for the six months ended June 30, 2019 . There was no valuation allowance provision expense or release recorded for the the three and six months ended June 30, 2018 . Mortgage servicing rights valuations are performed using a pooling methodology where similar loans are grouped together and evaluated using discounted cash flows to estimate the present value of future earnings. Key economic assumptions used to value mortgage servicing rights were as follows: June 30, 2019 December 31, 2018 Discount rate - conventional fixed loans 9.01 % 9.69 % Discount rate - all loans excluding conventional fixed loans 10.01 % 10.69 % Weighted average constant prepayment rate 13.39 % 9.26 % Weighted average cost to service a loan $ 88.03 $ 87.52 The fair value of mortgage servicing rights is sensitive to changes in assumptions and is determined by estimating the present value of the asset's future cash flows by utilizing discount rates, prepayment rates, and other inputs. 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 were used as a risk premium when calculating the discount rate. The prepayment rate is derived from the Public Securities Association Standard Prepayment model. Generally, as interest rates decline, mortgage loan prepayments accelerate due to increased refinance activity. This results in a decrease in fair value. The average cost to service a loan is based on the number of loans serviced and the total costs to service the loans. 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 $2.1 million and $2.7 million at June 30, 2019 and December 31, 2018 , respectively. |
Repurchase Agreements
Repurchase Agreements | 6 Months Ended |
Jun. 30, 2019 | |
Repurchase Agreements [Abstract] | |
Repurchase Agreements, Resale Agreements, Securities Borrowed, and Securities Loaned Disclosure [Text Block] | REPURCHASE AGREEMENTS BancShares, through FCB, utilizes securities sold under customer repurchase agreements to facilitate the needs of customers and secure wholesale funding needs. Repurchase agreements are transactions whereby FCB offers to sell to a counterparty an undivided interest in an eligible security, and which obligates FCB to repurchase the security, with interest, at an agreed upon date, repurchase price, and interest rate. These agreements are recorded at the amount of cash received in connection with the transaction and are reflected as securities sold under customer repurchase agreements on the Consolidated Balance Sheets. Repurchase agreements require FCB to maintain collateral to support the outstanding obligations. 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 and consist of U.S. Treasury securities. The carrying value of investment securities pledged as collateral under repurchase agreements was $612.5 million and $598.6 million at June 30, 2019 and December 31, 2018 , respectively. The remaining contractual maturity of the $544.5 million and $543.9 million securities sold under repurchase agreements at June 30, 2019 and December 31, 2018 , respectively, was overnight and continuous. |
Estimated Fair Values
Estimated Fair Values | 6 Months Ended |
Jun. 30, 2019 | |
Fair Value Disclosures [Abstract] | |
Estimated Fair Values | ESTIMATED FAIR VALUES Fair value estimates are intended to represent 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. Where there is no active market for a financial instrument, BancShares has made estimates using discounted cash flows or other valuation techniques. Inputs used in these valuation techniques are subjective in nature, involve uncertainties and require significant judgment and therefore can only be derived within a range of precision. Accordingly, the derived fair value estimates presented below are not necessarily indicative of the amounts BancShares would realize in a current market exchange. ASC 820, Fair Value Measurements and Disclosures , indicates that 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 highest level of input that is significant to the fair value measurement (with Level 1 considered highest and Level 3 considered lowest). A brief description of each level follows: • Level 1 values are based on quoted prices for identical instruments in active markets. • Level 2 values are based on quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active and model-based valuation techniques for which all significant assumptions are observable in the market. • Level 3 values are derived from valuation techniques in which one or more significant inputs or assumptions are not observable in the market. These unobservable inputs and assumptions reflect estimates that market participants would use in pricing the asset or liability. Valuation techniques include the use of discounted cash flow models and similar techniques. 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 will utilize 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 trust preferred securities are generally measured at fair value based on indicative bids from broker-dealers and are not directly observable. These securities are considered Level 3. Investment in marketable equity securities. Equity securities are measured at fair value using observable closing prices and 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 classified as Level 2 inputs. Portfolio loans that are subsequently transferred to held for sale to be sold in the secondary market are carried at fair value when a firm commitment from a counterparty exists. The fair value of the transferred portfolio loans is based on the quoted prices and is considered a Level 1 input. Net loans and leases (PCI and Non-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 believes its 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. Borrowings. For borrowings, 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 borrowings 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 June 30, 2019 and December 31, 2018 . 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, securities sold under customer repurchase agreements, and accrued interest payable are considered Level 2. The table presents the carrying values and estimated fair values for financial instruments as of June 30, 2019 and December 31, 2018 : (Dollars in thousands) June 30, 2019 December 31, 2018 Carrying value Fair value Carrying value Fair value Cash and due from banks $ 284,147 $ 284,147 $ 327,440 $ 327,440 Overnight investments 1,640,264 1,640,264 797,406 797,406 Investment securities available for sale 4,366,041 4,366,041 4,557,110 4,557,110 Investment securities held to maturity 2,218,048 2,285,283 2,184,653 2,201,502 Investment in marketable equity securities 111,489 111,489 92,599 92,599 Loans held for sale 52,837 52,837 45,505 45,505 Net loans and leases 26,501,654 26,791,041 25,299,564 24,845,060 Income earned not collected 115,303 115,303 109,903 109,903 Federal Home Loan Bank stock 25,545 25,545 25,304 25,304 Mortgage and other servicing rights 22,809 25,129 24,066 27,435 Deposits 32,719,671 31,461,196 30,672,460 30,623,214 Securities sold under customer repurchase agreements 544,527 544,527 543,936 543,936 Federal Home Loan Bank borrowings 197,131 203,464 193,556 195,374 Subordinated debentures 154,277 166,374 140,741 151,670 Other borrowings 18,446 18,625 13,921 13,985 FDIC shared-loss payable 108,892 111,298 105,618 105,846 Accrued interest payable 14,197 14,197 3,712 3,712 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 June 30, 2019 and December 31, 2018 : June 30, 2019 Fair value measurements using: (Dollars in thousands) Fair value Level 1 inputs Level 2 inputs Level 3 inputs Assets measured at fair value Investment securities available for sale U.S. Treasury $ 948,402 $ — $ 948,402 $ — Government agency 534,804 — 534,804 — Mortgage-backed securities 2,733,698 — 2,733,698 — Corporate bonds 149,137 — — 149,137 Total investment securities available for sale $ 4,366,041 $ — $ 4,216,904 $ 149,137 Marketable equity securities $ 111,489 $ 24,991 $ 86,498 $ — Loans held for sale $ 52,837 $ — $ 52,837 $ — December 31, 2018 Fair value measurements using: Fair value Level 1 inputs Level 2 inputs Level 3 inputs 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 143,226 — — 143,226 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 $ — During the three and six months ended June 30, 2019 , there were no transfers between levels. For the three months ended June 30, 2018 , there were no transfers between levels and for the six ended June 30, 2018 , there were transfers from Level 2 to Level 3 of $65.3 million for corporate bonds available for sale. The transfers were due to a lack of observable inputs and trade activity for those securities. The following tables summarize activity for Level 3 assets: Six months ended June 30, 2019 (Dollars in thousands) Corporate bonds Balance at January 1, 2019 $ 143,226 Amounts included in net income 82 Unrealized net gains included in other comprehensive income 1,838 Purchases 3,991 Balance at June 30, 2019 $ 149,137 The following table presents quantitative information about Level 3 fair value measurements for fair value on a recurring basis at June 30, 2019 : (Dollars in thousands) June 30, 2019 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 $ 149,137 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 Statement of Income and better aligns with the management of the portfolio from a business perspective. The changes in fair value were recorded as a component of mortgage income and included a loss of $82 thousand and a gain of $700 thousand for the three months ended June 30, 2019 and June 30, 2018 , respectively. The changes in fair value included a gain of $167 thousand and $245 thousand for six months ended June 30, 2019 and June 30, 2018 , respectively. The following table summarizes the difference between the aggregate fair value and the aggregate unpaid principal balance for residential real estate originated for sale measured at fair value as of June 30, 2019 and December 31, 2018 : June 30, 2019 (Dollars in thousands) Fair Value Aggregate Unpaid Principal Balance Difference Originated loans held for sale $ 52,837 $ 51,237 $ 1,600 December 31, 2018 Fair Value Aggregate Unpaid Principal Balance Difference Originated loans held for sale $ 45,505 $ 44,073 $ 1,432 No originated loans held for sale were 90 or more days past due or on nonaccrual status as of June 30, 2019 or December 31, 2018 . We may be required to measure certain financial assets at fair value on a nonrecurring basis. These adjustments to fair value usually result from the application of lower of amortized cost or fair value accounting or write-downs of individual assets due to impairment. Impaired loans are deemed to be at fair value if an associated allowance 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% 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 2% and 18% . OREO acquired or written down within the previous 12 months is deemed to be at fair value. Asset valuations are determined by using appraisals or other third-party value estimates of the subject property with discounts generally between 6% and 11% 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 June 30, 2019 and December 31, 2018 : June 30, 2019 Fair value measurements using: (Dollars in thousands) Fair value Level 1 inputs Level 2 inputs Level 3 inputs Impaired loans $ 120,783 $ — $ — $ 120,783 Other real estate remeasured during the previous 12 months 20,079 — — 20,079 December 31, 2018 Fair value measurements using: Fair value Level 1 inputs Level 2 inputs Level 3 inputs Impaired loans $ 105,994 $ — $ — $ 105,994 Other real estate remeasured during the previous 12 months 35,344 — — 35,344 No financial liabilities were carried at fair value on a nonrecurring basis as of June 30, 2019 and December 31, 2018 . |
Employee Benefit Plans
Employee Benefit Plans | 6 Months Ended |
Jun. 30, 2019 | |
Retirement Benefits, Description [Abstract] | |
Employee Benefit Plans | EMPLOYEE BENEFIT PLANS BancShares sponsors noncontributory defined benefit pension plans for its qualifying employees (BancShares Plan) and former First Citizens Bancorporation, Inc. employees (Bancorporation Plan). The service cost component of net periodic benefit cost is included in salaries and wages while all other non-service cost components are included in other noninterest expense. BancShares Plan For the three and six months ended June 30, 2019 and 2018 , the components of net periodic benefit cost are as follows: Three months ended June 30 Six months ended June 30 (Dollars in thousands) 2019 2018 2019 2018 Service cost $ 2,690 $ 3,362 $ 5,258 $ 6,791 Interest cost 7,581 7,131 15,112 14,188 Expected return on assets (12,886 ) (11,976 ) (25,753 ) (23,933 ) Amortization of prior service cost 14 20 28 40 Amortization of net actuarial loss 2,084 3,548 4,198 6,794 Net periodic (benefit) cost $ (517 ) $ 2,085 $ (1,157 ) $ 3,880 Bancorporation Plan For the three and six months ended June 30, 2019 and 2018 , the components of net periodic benefit cost are as follows: Three months ended June 30 Six months ended June 30 (Dollars in thousands) 2019 2018 2019 2018 Service cost $ 581 $ 624 $ 1,126 $ 1,286 Interest cost 1,757 1,592 3,517 3,179 Expected return on assets (2,775 ) (3,110 ) (5,543 ) (6,216 ) Amortization of net actuarial loss 637 86 1,264 157 Net periodic cost (benefit) $ 200 $ (808 ) $ 364 $ (1,594 ) No discretionary contributions were made during the six months ended June 30, 2019 to the BancShares or Bancorporation pension plans. 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 the plans, returns on plan assets, discount rates and the current economic environment. BancShares made a contribution of $3.5 million to the Bancorporation plan in July 2019. |
Commitments and Contingencies
Commitments and Contingencies | 6 Months Ended |
Jun. 30, 2019 | |
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. 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. Those commitments are primarily issued to support public and private borrowing arrangements, and the fair value of those commitments was 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 June 30, 2019 and December 31, 2018 : (Dollars in thousands) June 30, 2019 December 31, 2018 Unused commitments to extend credit $ 10,348,284 $ 10,054,712 Standby letters of credit 94,307 96,467 Unfunded commitments for investments in affordable housing projects 80,383 67,952 Affordable housing project investments were $170.3 million and $147.3 million as of June 30, 2019 and December 31, 2018 , respectively, and were included in other assets on the Consolidated Balance Sheets. BancShares and various subsidiaries have been named as defendants in legal actions arising from their normal business activities in which damages in various amounts were claimed. BancShares has also been exposed to litigation risk relating to the prior business activities of banks from which assets were acquired and liabilities assumed in the various 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 Income (Loss) | 6 Months Ended |
Jun. 30, 2019 | |
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | |
Accumulated Other Comprehensive Loss | ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) Accumulated other comprehensive income (loss) included the following as of June 30, 2019 and December 31, 2018 : June 30, 2019 December 31, 2018 (Dollars in thousands) Accumulated Deferred Accumulated Accumulated Deferred Accumulated Unrealized gains (losses) on securities available for sale $ 3,316 $ 762 $ 2,554 $ (50,007 ) $ (11,502 ) $ (38,505 ) Unrealized losses on securities available for sale transferred to held to maturity (80,492 ) (18,513 ) (61,979 ) (92,401 ) (21,252 ) (71,149 ) Defined benefit pension items (157,540 ) (36,234 ) (121,306 ) (163,030 ) (37,497 ) (125,533 ) Total $ (234,716 ) $ (53,985 ) $ (180,731 ) $ (305,438 ) $ (70,251 ) $ (235,187 ) The following table highlights changes in accumulated other comprehensive income (loss) by component for the three and six months ended June 30, 2019 and June 30, 2018 : Three months ended June 30, 2019 (Dollars in thousands) Unrealized gains (losses) 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 Beginning balance $ (16,890 ) $ (66,558 ) $ (123,412 ) $ (206,860 ) Net unrealized gains arising during period 23,848 — — 23,848 Amounts reclassified from accumulated other comprehensive loss (4,404 ) 4,579 2,106 2,281 Net current period other comprehensive income 19,444 4,579 2,106 26,129 Ending balance $ 2,554 $ (61,979 ) $ (121,306 ) $ (180,731 ) Three months ended June 30, 2018 (Dollars in thousands) Unrealized gains (losses) 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 Beginning balance $ (121,243 ) $ — $ (109,080 ) $ (230,323 ) Net unrealized gains (losses) arising during period 63,747 (84,321 ) — (20,574 ) Amounts reclassified from accumulated other comprehensive loss — 3,445 2,814 6,259 Net current period other comprehensive income (loss) 63,747 (80,876 ) 2,814 (14,315 ) Ending balance $ (57,496 ) $ (80,876 ) $ (106,266 ) $ (244,638 ) Six months ended June 30, 2019 (Dollars in thousands) Unrealized gains (losses) 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 Beginning balance $ (38,505 ) $ (71,149 ) $ (125,533 ) $ (235,187 ) Net unrealized gains arising during period 45,463 — — 45,463 Amounts reclassified from accumulated other comprehensive loss (4,404 ) 9,170 4,227 8,993 Net current period other comprehensive income 41,059 9,170 4,227 54,456 Ending balance $ 2,554 $ (61,979 ) $ (121,306 ) $ (180,731 ) Six months ended June 30, 2018 (Dollars in thousands) Unrealized gains (losses) 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 Beginning balance $ (30,945 ) $ — $ (91,349 ) $ (122,294 ) Cumulative effect adjustments (29,751 ) — (20,300 ) (50,051 ) Adjusted beginning balance (60,696 ) — (111,649 ) (172,345 ) Net unrealized gains (losses) arising during period 3,200 (84,321 ) — (81,121 ) Amounts reclassified from accumulated other comprehensive loss — 3,445 5,383 8,828 Net current period other comprehensive income (loss) 3,200 (80,876 ) 5,383 (72,293 ) Ending balance $ (57,496 ) $ (80,876 ) $ (106,266 ) $ (244,638 ) (1) All amounts are net of tax. Amounts in parentheses indicate debits. The following table presents the amounts reclassified from accumulated other comprehensive income (loss) and the line item affected in the statement where net income is presented for the three and six months ended June 30, 2019 and June 30, 2018 : Three months ended June 30, 2019 (Dollars in thousands) Details about accumulated other comprehensive income (loss) Amounts reclassified from accumulated other comprehensive income (loss) (1) Affected line item in the statement where net income is presented Unrealized gains on securities available for sale $ 5,719 Securities gains, net (1,315 ) Income taxes $ 4,404 Net income Amortization of unrealized losses on securities available for sale transferred to held to maturity $ (5,947 ) Net interest income 1,368 Income taxes $ (4,579 ) Net Income Amortization of defined benefit pension items Prior service costs $ (14 ) Salaries and wages Actuarial losses (2,721 ) Other (2,735 ) Income before income taxes 629 Income taxes $ (2,106 ) Net income Total reclassifications for the period $ (2,281 ) Three months ended June 30, 2018 Details about accumulated other comprehensive income (loss) Amounts reclassified from accumulated other comprehensive income (loss) (1) Affected line item in the statement where net income is presented Amortization of unrealized losses on securities available for sale transferred to held to maturity $ (4,473 ) Net interest income 1,028 Income taxes $ (3,445 ) Net Income Amortization of defined benefit pension items Prior service costs $ (20 ) Salaries and wages Actuarial losses (3,634 ) Other (3,654 ) Income before income taxes 840 Income taxes $ (2,814 ) Net income Total reclassifications for the period $ (6,259 ) (1) Amounts in parentheses indicate debits to profit/loss. Six months ended June 30, 2019 Details about accumulated other comprehensive income (loss) Amounts reclassified from accumulated other comprehensive income (loss) (1) Affected line item in the statement where net income is presented Unrealized gains on securities available for sale $ 5,719 Securities gains, net (1,315 ) Income taxes $ 4,404 Net income Amortization of unrealized losses on securities available for sale transferred to held to maturity $ (11,909 ) Net interest income 2,739 Income taxes $ (9,170 ) Net income Amortization of defined benefit pension items Prior service costs $ (28 ) Salaries and wages Actuarial losses (5,462 ) Other (5,490 ) Income before income taxes 1,263 Income taxes $ (4,227 ) Net income Total reclassifications for the period $ (8,993 ) Six months ended June 30, 2018 Details about accumulated other comprehensive income (loss) Amounts reclassified from accumulated other comprehensive income (loss) (1) Affected line item in the statement where net income is presented Amortization of unrealized losses on securities available for sale transferred to held to maturity $ (4,473 ) Net interest income 1,028 Income taxes $ (3,445 ) Net income Amortization of defined benefit pension items Prior service costs $ (40 ) Salaries and wages Actuarial losses (6,951 ) Other (6,991 ) Income before income taxes 1,608 Income taxes $ (5,383 ) Net income Total reclassifications for the period $ (8,828 ) (1) Amounts in parentheses indicate debits to profit/loss. |
Leases
Leases | 6 Months Ended |
Jun. 30, 2019 | |
Leases [Abstract] | |
Leases | LEASES BancShares leases certain branch locations, administrative offices and equipment. Operating lease ROU assets are included in other assets and the associated lease obligations are included in other liabilities on the Consolidated Balance Sheets. Finance leases are included in premises and equipment and other borrowings on the Consolidated Balance Sheets. Leases with an initial term of 12 months or less are not recorded on the Consolidated Balance Sheets; we instead recognize lease expense for these leases on a straight-line basis over the lease term. ROU assets represent our right to use an underlying asset for the lease term and lease liabilities represent our corresponding obligation to make lease payments arising from the lease. Operating and finance lease ROU assets and liabilities are recognized at commencement date based on the present value of lease payments over the lease term. The operating and finance lease ROU asset also includes initial direct costs and pre-paid lease payments made, excluding lease incentives. As most of our leases do not provide an implicit rate, BancShares uses its incremental borrowing rate, based on the information available at commencement date in determining the present value of lease payments. The incremental borrowing rate is determined using secured rates for new FHLB advances under similar terms as the lease at inception. BancShares used the incremental borrowing rate on January 1, 2019, for operating leases that commenced prior to that date. Most leases include one or more options to renew, with renewal terms that can extend the lease term from 1 to 25 years . The exercise of lease renewal options is at our sole discretion. When it is reasonably certain that we will exercise our option to renew or extend the lease term, that option is included in calculating the value of the ROU and lease liability. The depreciable life of assets and leasehold improvements are limited by the expected lease term, unless there is a transfer of title or purchase option reasonably certain of exercise. We determine if an arrangement is a lease at inception and our lease agreements do not contain any material residual value guarantees or material restrictive covenants. We have no related party lease agreements. As of June 30, 2019 , there were no leases that have not yet commenced that would have a material impact on our Consolidated Financial Statements. We rent or sublease certain real estate to third parties to manage occupancy costs and provide flexibility to expand and contract occupancy space to meet our business needs. The following table presents lease assets and liabilities as of June 30, 2019 : (Dollars in thousands) Classification June 30, 2019 Assets: Operating Other assets $ 81,534 Finance Premises and equipment 8,098 Total leased assets 89,632 Liabilities: Operating Other liabilities 80,562 Finance Other borrowings 7,459 Total lease liabilities $ 88,021 The following table presents lease costs for the three and six months ended June 30, 2019 . Variable lease cost primarily represents variable payments such as common area maintenance and utilities that are recognized in the period in which the expense was incurred. Certain of our lease agreements also include rental payments that are adjusted periodically for inflation. While lease liabilities are not remeasured as a result of these changes, these adjustments are treated as a variable lease costs and recognized in the period in which the expense is incurred. (Dollars in thousands) Classification Three months ended June 30, 2019 Six months ended June 30, 2019 Lease cost: Operating lease cost (1) Occupancy expense $ 3,581 $ 6,785 Finance lease cost: Amortization of leased assets Equipment expense 446 893 Interest on lease liabilities Interest expense - Other borrowings 62 127 Variable lease cost Occupancy expense 724 1,252 Sublease income Occupancy expense (86 ) (216 ) Net lease cost $ 4,727 $ 8,841 (1) Operating lease cost includes short-term lease cost, which is immaterial. The following table presents lease liability maturities in the next five years and thereafter: (Dollars in thousands) Operating Leases Finance Leases Total 2019 (1) $ 7,267 $ 870 $ 8,137 2020 13,693 1,748 15,441 2021 12,129 1,764 13,893 2022 10,763 1,481 12,244 2023 8,908 599 9,507 Thereafter 42,606 1,683 44,289 Total lease payments $ 95,366 $ 8,145 $ 103,511 Less: Interest 14,804 686 15,490 Present value of lease liabilities $ 80,562 $ 7,459 $ 88,021 (1) Represents the lease liability payments that will be made for the period July 1, 2019 through December 31, 2019. The following table presents the remaining weighted average lease terms and discount rates as of June 30, 2019 : Weighted average remaining lease term (years): June 30, 2019 Operating 9.7 Finance 5.2 Weighted average discount rate: Operating 3.26 % Finance 3.23 The following table presents supplemental cash flow information related to leases for the six months ended June 30, 2019 : (Dollars in thousands) June 30, 2019 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 6,613 Operating cash flows from finance leases 127 Financing cash flows from finance leases 735 Right-of-use assets obtained in exchange for new operating lease liabilities 15,162 Right-of-use assets obtained in exchange for new finance lease liabilities — |
Leases | LEASES BancShares leases certain branch locations, administrative offices and equipment. Operating lease ROU assets are included in other assets and the associated lease obligations are included in other liabilities on the Consolidated Balance Sheets. Finance leases are included in premises and equipment and other borrowings on the Consolidated Balance Sheets. Leases with an initial term of 12 months or less are not recorded on the Consolidated Balance Sheets; we instead recognize lease expense for these leases on a straight-line basis over the lease term. ROU assets represent our right to use an underlying asset for the lease term and lease liabilities represent our corresponding obligation to make lease payments arising from the lease. Operating and finance lease ROU assets and liabilities are recognized at commencement date based on the present value of lease payments over the lease term. The operating and finance lease ROU asset also includes initial direct costs and pre-paid lease payments made, excluding lease incentives. As most of our leases do not provide an implicit rate, BancShares uses its incremental borrowing rate, based on the information available at commencement date in determining the present value of lease payments. The incremental borrowing rate is determined using secured rates for new FHLB advances under similar terms as the lease at inception. BancShares used the incremental borrowing rate on January 1, 2019, for operating leases that commenced prior to that date. Most leases include one or more options to renew, with renewal terms that can extend the lease term from 1 to 25 years . The exercise of lease renewal options is at our sole discretion. When it is reasonably certain that we will exercise our option to renew or extend the lease term, that option is included in calculating the value of the ROU and lease liability. The depreciable life of assets and leasehold improvements are limited by the expected lease term, unless there is a transfer of title or purchase option reasonably certain of exercise. We determine if an arrangement is a lease at inception and our lease agreements do not contain any material residual value guarantees or material restrictive covenants. We have no related party lease agreements. As of June 30, 2019 , there were no leases that have not yet commenced that would have a material impact on our Consolidated Financial Statements. We rent or sublease certain real estate to third parties to manage occupancy costs and provide flexibility to expand and contract occupancy space to meet our business needs. The following table presents lease assets and liabilities as of June 30, 2019 : (Dollars in thousands) Classification June 30, 2019 Assets: Operating Other assets $ 81,534 Finance Premises and equipment 8,098 Total leased assets 89,632 Liabilities: Operating Other liabilities 80,562 Finance Other borrowings 7,459 Total lease liabilities $ 88,021 The following table presents lease costs for the three and six months ended June 30, 2019 . Variable lease cost primarily represents variable payments such as common area maintenance and utilities that are recognized in the period in which the expense was incurred. Certain of our lease agreements also include rental payments that are adjusted periodically for inflation. While lease liabilities are not remeasured as a result of these changes, these adjustments are treated as a variable lease costs and recognized in the period in which the expense is incurred. (Dollars in thousands) Classification Three months ended June 30, 2019 Six months ended June 30, 2019 Lease cost: Operating lease cost (1) Occupancy expense $ 3,581 $ 6,785 Finance lease cost: Amortization of leased assets Equipment expense 446 893 Interest on lease liabilities Interest expense - Other borrowings 62 127 Variable lease cost Occupancy expense 724 1,252 Sublease income Occupancy expense (86 ) (216 ) Net lease cost $ 4,727 $ 8,841 (1) Operating lease cost includes short-term lease cost, which is immaterial. The following table presents lease liability maturities in the next five years and thereafter: (Dollars in thousands) Operating Leases Finance Leases Total 2019 (1) $ 7,267 $ 870 $ 8,137 2020 13,693 1,748 15,441 2021 12,129 1,764 13,893 2022 10,763 1,481 12,244 2023 8,908 599 9,507 Thereafter 42,606 1,683 44,289 Total lease payments $ 95,366 $ 8,145 $ 103,511 Less: Interest 14,804 686 15,490 Present value of lease liabilities $ 80,562 $ 7,459 $ 88,021 (1) Represents the lease liability payments that will be made for the period July 1, 2019 through December 31, 2019. The following table presents the remaining weighted average lease terms and discount rates as of June 30, 2019 : Weighted average remaining lease term (years): June 30, 2019 Operating 9.7 Finance 5.2 Weighted average discount rate: Operating 3.26 % Finance 3.23 The following table presents supplemental cash flow information related to leases for the six months ended June 30, 2019 : (Dollars in thousands) June 30, 2019 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 6,613 Operating cash flows from finance leases 127 Financing cash flows from finance leases 735 Right-of-use assets obtained in exchange for new operating lease liabilities 15,162 Right-of-use assets obtained in exchange for new finance lease liabilities — |
Accounting Policies and Basis_2
Accounting Policies and Basis of Presentation Policies (Policies) | 6 Months Ended |
Jun. 30, 2019 | |
Accounting Policies [Abstract] | |
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 | 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, Federal Deposit Insurance Corporation (FDIC) shared-loss payable, pension plan assumptions, goodwill and other intangible assets, and income taxes. |
New Accounting Pronouncements | Recently Adopted Accounting Pronouncements Financial Accounting Standards Board (FASB) Accounting Standards Update (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 prior 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 previous 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. We adopted this standard, as of January 1, 2019, using the effective date method that allows for entities to initially apply the new leases standard at the adoption date. In addition, we made several policy elections permitted under the transition guidance, which among other things, allowed us to carry forward the historical lease classification. We determined that most renewal options would not be reasonably determinable in estimating the expected lease term. We made the policy election available under Topic 842 to combine lease and non-lease components and applied this practical expedient to leases in effect prior to the date of adoption. We will continue to apply the practical expedient to all leases entered into going forward. The adoption of the new standard had an impact on our Consolidated Balance Sheet as of January 1, 2019, with the recording of operating Right-of-Use (ROU) assets and operating lease liabilities of $70.7 million and $71.8 million , respectively. The operating lease liability includes a $1.1 million fair value adjustment for leases assumed in the acquisition of HomeBancorp, Inc. (HomeBancorp). In addition, at the adoption date we had finance lease ROU assets and finance lease liabilities, previously classified as capital leases, of $9.1 million and $8.3 million , respectively. The Company did not have a cumulative-effect adjustment to the opening balance of retained earnings at commencement. The Company has no related party lease agreements. This ASU did not have a material impact on our Consolidated Statements of Income. See Note N in the Consolidated Financial Statements for additional disclosures. 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 (1) expense capitalized implementation costs of a hosting arrangement that is a service contract over the term of the hosting arrangement (2) 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 (3) 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 (4) 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 adopted this standard effective July 1, 2019 on a prospective basis. BancShares is currently evaluating the impact of this ASU adoption, but does not anticipate a material impact on our Consolidated Financial Statements. 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 (1) the amount of and reasons for transfers between Level 1 and Level 2 of the fair value hierarchy (2) the policy for timing of transfers between levels and (3) the valuation processes for Level 3 fair value measurements. This ASU also added specific disclosure requirements for fair value measurements for public business 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 introduces a new credit loss methodology which requires earlier recognition of credit losses, replacing multiple existing impairment methods in current GAAP, which generally require that a loss be incurred before it is recognized. The amendments in this ASU require loss estimates be determined over the lifetime of the asset and broaden the information that an entity must consider in developing its expected credit losses. 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. 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. We have completed preliminary current expected credit losses (CECL) accounting interpretations, and continue to refine and test our models, estimation techniques, data, operational processes and controls to be used in preparing CECL loss estimates. During the remainder of 2019, we expect to address any gaps in our interpretations, including review of subsequent ASUs announced by the FASB regarding Topic 326, methodology, data and operational processes based upon our reviews and tests. BancShares continues to evaluate the impact of this standard on its consolidated financial statements but the magnitude of this impact has not been determined. The final impact will be dependent on, among other items, loan portfolio composition and credit quality at the adoption date, as well as economic conditions, financial models used and forecasts in place at that time. 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 in the first quarter of 2020 with a cumulative-effect adjustment to retained earnings as of the beginning of the year of adoption. |
Business Combinations (Tables)
Business Combinations (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
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 $ 37,486 Assets Cash and due from banks $ 4,633 Overnight investments 3,188 Investment securities 23,512 Loans 179,243 Premises and equipment 4,944 Other real estate owned 1,567 Income earned not collected 604 Intangible assets 2,268 Other assets 19,192 Total assets acquired 239,151 Liabilities Deposits 207,556 Borrowings 5,155 Other liabilities 2,850 Total liabilities assumed $ 215,561 Fair value of net assets acquired 23,590 Goodwill recorded for First South Bancorp $ 13,896 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 $ 118,949 Assets Cash and due from banks $ 78,010 Overnight investments 306 Investment securities held to maturity 34,539 Loans 863,384 Premises and equipment 1,533 Other real estate owned 2,046 Income earned not collected 3,049 Intangible assets 4,745 Other assets 41,572 Total assets acquired 1,029,184 Liabilities Deposits 786,512 Borrowings 157,415 Other liabilities 12,829 Total liabilities assumed $ 956,756 Fair value of net assets acquired 72,428 Goodwill recorded for Biscayne Bancshares $ 46,521 The following table relates to purchased non-PCI loans acquired in the Biscayne Bancshares and First South Bancorp transactions and provides the contractually required payments, estimate of contractual cash flows not expected to be collected and fair value of the acquired loans at the acquisition date: (Dollars in thousands) Biscayne Bancshares First South Bancorp Contractually required payments $ 1,078,854 $ 175,465 Fair value at acquisition date 850,352 162,845 The recorded fair values of purchased non-PCI loans acquired in the Biscayne Bancshares and First South Bancorp transactions as of the acquisition date are as follows: (Dollars in thousands) Biscayne Bancshares First South Bancorp Commercial: Construction and land development $ 15,647 $ 8,663 Commercial mortgage 203,605 74,713 Other commercial real estate 98,107 7,509 Commercial and industrial and leases 28,135 40,208 Total commercial loans 345,494 131,093 Noncommercial: Residential mortgage 405,419 24,641 Revolving mortgage 54,081 2,162 Construction and land development 31,668 3,552 Consumer 13,690 1,397 Total noncommercial loans 504,858 31,752 Total non-PCI loans $ 850,352 $ 162,845 Purchased credit-impaired loans The following table relates to PCI loans acquired in the Biscayne Bancshares and First South Bancorp transactions and 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 acquisition date: (Dollars in thousands) Biscayne Bancshares First South Bancorp Contractually required payments $ 19,720 $ 23,389 Contractual cash flows expected to be collected 16,815 21,392 Fair value at acquisition date 13,032 16,398 The recorded fair values of PCI loans acquired in the Biscayne Bancshares and First South Bancorp transactions as of the acquisition date are as follows: (Dollars in thousands) Biscayne Bancshares First South Bancorp Commercial: Construction and land development $ — $ 1,233 Commercial mortgage 7,589 9,355 Commercial and industrial and leases 1,660 1,202 Total commercial loans 9,249 11,790 Noncommercial: Residential mortgage 3,783 4,591 Construction and land development — 17 Total noncommercial loans 3,783 4,608 Total PCI loans $ 13,032 $ 16,398 |
Investments (Tables)
Investments (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Investments [Abstract] | |
Aggregate Values And Unrealized Gains And Losses Of Investment Securities | The amortized cost and fair value of investment securities at June 30, 2019 and December 31, 2018 , were as follows: June 30, 2019 (Dollars in thousands) Cost Gross Gross unrealized Fair Investment securities available for sale U.S. Treasury $ 946,859 $ 1,625 $ 82 $ 948,402 Government agency 533,269 1,724 189 534,804 Mortgage-backed securities 2,734,696 7,420 8,418 2,733,698 Corporate bonds 147,901 1,591 355 149,137 Total investment securities available for sale 4,362,725 12,360 9,044 4,366,041 Investment in marketable equity securities 80,542 31,163 216 111,489 Investment securities held to maturity Mortgage-backed securities 2,182,500 67,235 — 2,249,735 Other 35,548 — — 35,548 Total investment securities held to maturity 2,218,048 67,235 — 2,285,283 Total investment securities $ 6,661,315 $ 110,758 $ 9,260 $ 6,762,813 December 31, 2018 (Dollars in thousands) Cost Gross Gross unrealized Fair 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 143,829 261 864 143,226 Total investment securities available for sale 4,607,117 6,425 56,432 4,557,110 Investment in marketable equity securities 73,809 19,010 220 92,599 Investment securities held to maturity Mortgage-backed securities 2,184,653 17,339 490 2,201,502 Total investment securities $ 6,865,579 $ 42,774 $ 57,142 $ 6,851,211 |
Investment Securities Maturity Information | The following table provides the amortized cost and fair value by contractual maturity for investment securities available for sale and held to 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. Repayments of mortgage-backed securities are dependent on the repayments of the underlying loan balances, while repayments of certain corporate bonds are subject to call provisions that can be exercised by the issuer at their discretion. June 30, 2019 December 31, 2018 (Dollars in thousands) Cost Fair value Cost Fair value Investment securities available for sale Non-amortizing securities maturing in: One year or less $ 897,407 $ 898,632 $ 1,049,253 $ 1,047,380 One through five years 54,935 55,320 205,526 205,805 Five through 10 years 138,484 139,462 134,370 133,626 Over 10 years 3,934 4,125 3,923 4,125 Government agency 533,269 534,804 257,252 256,835 Mortgage-backed securities 2,734,696 2,733,698 2,956,793 2,909,339 Total investment securities available for sale $ 4,362,725 $ 4,366,041 $ 4,607,117 $ 4,557,110 Investment securities held to maturity Non-amortizing securities maturing in: One year or less 34,550 34,550 — — One through five years 998 998 — — Mortgage-backed securities 2,182,500 2,249,735 2,184,653 2,201,502 Total investment securities held to maturity $ 2,218,048 $ 2,285,283 $ 2,184,653 $ 2,201,502 |
Marketable Securities Gains (Losses) | The following table provides the realized and unrealized gains on marketable equity securities for the three and six months ended June 30, 2019 : Three months ended June 30 Six months ended June 30 (Dollars in thousands) 2019 2018 2019 2018 Marketable equity securities gains, net $ 3,144 $ 4,440 $ 14,472 $ 5,411 Less net gains recognized on marketable equity securities sold 2,271 139 2,315 235 Unrealized gains recognized on marketable equity securities held $ 873 $ 4,301 $ 12,157 $ 5,176 |
Investment Securities With Unrealized Losses | The following table provides information regarding securities with unrealized losses as of June 30, 2019 and December 31, 2018 : June 30, 2019 Less than 12 months 12 months or more Total (Dollars in thousands) Fair Unrealized Fair Unrealized Fair Unrealized Investment securities available for sale U.S. Treasury $ — $ — $ 150,248 $ 82 $ 150,248 $ 82 Government agency 39,456 25 58,879 164 98,335 189 Mortgage-backed securities 109,521 288 1,448,894 8,130 1,558,415 8,418 Corporate bonds 31,090 222 7,560 133 38,650 355 Total $ 180,067 $ 535 $ 1,665,581 $ 8,509 $ 1,845,648 $ 9,044 December 31, 2018 Less than 12 months 12 months or more Total (Dollars in thousands) Fair Unrealized Fair Unrealized Fair Unrealized 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 |
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | INVESTMENTS The amortized cost and fair value of investment securities at June 30, 2019 and December 31, 2018 , were as follows: June 30, 2019 (Dollars in thousands) Cost Gross Gross unrealized Fair Investment securities available for sale U.S. Treasury $ 946,859 $ 1,625 $ 82 $ 948,402 Government agency 533,269 1,724 189 534,804 Mortgage-backed securities 2,734,696 7,420 8,418 2,733,698 Corporate bonds 147,901 1,591 355 149,137 Total investment securities available for sale 4,362,725 12,360 9,044 4,366,041 Investment in marketable equity securities 80,542 31,163 216 111,489 Investment securities held to maturity Mortgage-backed securities 2,182,500 67,235 — 2,249,735 Other 35,548 — — 35,548 Total investment securities held to maturity 2,218,048 67,235 — 2,285,283 Total investment securities $ 6,661,315 $ 110,758 $ 9,260 $ 6,762,813 December 31, 2018 (Dollars in thousands) Cost Gross Gross unrealized Fair 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 143,829 261 864 143,226 Total investment securities available for sale 4,607,117 6,425 56,432 4,557,110 Investment in marketable equity securities 73,809 19,010 220 92,599 Investment securities held to maturity Mortgage-backed securities 2,184,653 17,339 490 2,201,502 Total investment securities $ 6,865,579 $ 42,774 $ 57,142 $ 6,851,211 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 available for sale investments include trust preferred securities of financial institutions. Other held to maturity investments include certificates of deposit with other financial institutions, acquired in the Biscayne Bancshares acquisition. BancShares also holds approximately 298,000 shares of Visa Class B common stock. BancShares' Visa Class B shares are not considered to have a readily determinable fair value and are included in the Consolidated Balance Sheet with no fair value. The following table provides the amortized cost and fair value by contractual maturity for investment securities available for sale and held to 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. Repayments of mortgage-backed securities are dependent on the repayments of the underlying loan balances, while repayments of certain corporate bonds are subject to call provisions that can be exercised by the issuer at their discretion. June 30, 2019 December 31, 2018 (Dollars in thousands) Cost Fair value Cost Fair value Investment securities available for sale Non-amortizing securities maturing in: One year or less $ 897,407 $ 898,632 $ 1,049,253 $ 1,047,380 One through five years 54,935 55,320 205,526 205,805 Five through 10 years 138,484 139,462 134,370 133,626 Over 10 years 3,934 4,125 3,923 4,125 Government agency 533,269 534,804 257,252 256,835 Mortgage-backed securities 2,734,696 2,733,698 2,956,793 2,909,339 Total investment securities available for sale $ 4,362,725 $ 4,366,041 $ 4,607,117 $ 4,557,110 Investment securities held to maturity Non-amortizing securities maturing in: One year or less 34,550 34,550 — — One through five years 998 998 — — Mortgage-backed securities 2,182,500 2,249,735 2,184,653 2,201,502 Total investment securities held to maturity $ 2,218,048 $ 2,285,283 $ 2,184,653 $ 2,201,502 There were gross gains of $5.7 million on sales of investment securities available for sale for the three and six months ended June 30, 2019 . There were no gross losses on sales of investment securities available for sale during this period. There were no gross gains or losses on sales of investment securities available for sale for the six months ended June 30, 2018 . The following table provides the realized and unrealized gains on marketable equity securities for the three and six months ended June 30, 2019 : Three months ended June 30 Six months ended June 30 (Dollars in thousands) 2019 2018 2019 2018 Marketable equity securities gains, net $ 3,144 $ 4,440 $ 14,472 $ 5,411 Less net gains recognized on marketable equity securities sold 2,271 139 2,315 235 Unrealized gains recognized on marketable equity securities held $ 873 $ 4,301 $ 12,157 $ 5,176 The following table provides information regarding securities with unrealized losses as of June 30, 2019 and December 31, 2018 : June 30, 2019 Less than 12 months 12 months or more Total (Dollars in thousands) Fair Unrealized Fair Unrealized Fair Unrealized Investment securities available for sale U.S. Treasury $ — $ — $ 150,248 $ 82 $ 150,248 $ 82 Government agency 39,456 25 58,879 164 98,335 189 Mortgage-backed securities 109,521 288 1,448,894 8,130 1,558,415 8,418 Corporate bonds 31,090 222 7,560 133 38,650 355 Total $ 180,067 $ 535 $ 1,665,581 $ 8,509 $ 1,845,648 $ 9,044 December 31, 2018 Less than 12 months 12 months or more Total (Dollars in thousands) Fair Unrealized Fair Unrealized Fair Unrealized 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 As of June 30, 2019 , there were 200 investment securities available for sale that had continuous losses for more than 12 months of which 197 were government sponsored enterprise-issued mortgage-backed securities or government agency securities, one was a U.S. Treasury security and two were corporate bonds. None of the unrealized losses identified as of June 30, 2019 or December 31, 2018 relate to the marketability of the securities or the issuers' ability to honor redemption obligations. Rather, the unrealized losses relate to changes in interest rates relative to when the debt 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 other than temporarily impaired. Debt securities having an aggregate carrying value of $3.75 billion at June 30, 2019 and $4.03 billion at December 31, 2018 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 (Tables)
Loans and Leases (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | |
Loans And Leases Outstanding | Loans and leases outstanding included the following at June 30, 2019 and December 31, 2018 : (Dollars in thousands) June 30, 2019 December 31, 2018 Non-PCI loans and leases: Commercial: Construction and land development $ 719,534 $ 757,854 Commercial mortgage 11,336,684 10,717,234 Other commercial real estate 506,760 426,985 Commercial and industrial and leases 3,980,504 3,938,730 Other 301,346 296,424 Total commercial loans 16,844,828 16,137,227 Noncommercial: Residential mortgage 4,790,636 4,265,687 Revolving mortgage 2,470,653 2,542,975 Construction and land development 315,071 257,030 Consumer 1,755,602 1,713,781 Total noncommercial loans 9,331,962 8,779,473 Total non-PCI loans and leases 26,176,790 24,916,700 PCI loans: Total PCI loans 551,447 606,576 Total loans and leases $ 26,728,237 $ 25,523,276 |
Composition Of The Loans And Leases Outstanding By Credit Quality Indicator | June 30, 2019 and December 31, 2018 by credit quality indicator are provided below: June 30, 2019 (Dollars in thousands) Non-PCI commercial loans and leases Grade: Construction and Commercial mortgage Other commercial real estate Commercial and industrial and leases Other Total non-PCI commercial loans and leases Pass $ 716,068 $ 11,093,853 $ 502,168 $ 3,825,956 $ 300,335 $ 16,438,380 Special mention 1,016 111,721 3,575 46,960 470 163,742 Substandard 2,450 131,110 1,017 38,080 541 173,198 Doubtful — — — 96 — 96 Ungraded — — — 69,412 — 69,412 Total $ 719,534 $ 11,336,684 $ 506,760 $ 3,980,504 $ 301,346 $ 16,844,828 December 31, 2018 (Dollars in thousands) Non-PCI commercial loans and leases Grade: Construction and Commercial mortgage Other commercial real estate Commercial and industrial and leases 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 June 30, 2019 Non-PCI noncommercial loans and leases (Dollars in thousands) Residential Revolving Construction Consumer Total non-PCI noncommercial loans and leases Current $ 4,736,063 $ 2,444,047 $ 312,985 $ 1,740,946 $ 9,234,041 30-59 days past due 26,250 14,044 255 8,645 49,194 60-89 days past due 13,109 3,207 214 3,099 19,629 90 days or greater past due 15,214 9,355 1,617 2,912 29,098 Total $ 4,790,636 $ 2,470,653 $ 315,071 $ 1,755,602 $ 9,331,962 December 31, 2018 Non-PCI noncommercial loans and leases (Dollars in thousands) Residential Revolving Construction Consumer Total non-PCI noncommercial loans and leases 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 PCI loans outstanding at June 30, 2019 and December 31, 2018 by credit quality indicator are provided below: June 30, 2019 December 31, 2018 (Dollars in thousands) PCI commercial Loans Grade: Pass $ 138,300 $ 141,922 Special mention 44,324 48,475 Substandard 90,019 101,447 Doubtful 2,994 4,828 Total $ 275,637 $ 296,672 June 30, 2019 December 31, 2018 (Dollars in thousands) PCI noncommercial Loans Current $ 244,196 $ 268,280 30-59 days past due 8,691 11,155 60-89 days past due 4,763 7,708 90 days or greater past due 18,160 22,761 Total $ 275,810 $ 309,904 |
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 June 30, 2019 and December 31, 2018 are provided in the tables below. Loans and leases past due 30 days or less 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. June 30, 2019 (Dollars in thousands) 30-59 days 60-89 days 90 days or greater Total past Current Total loans Non-PCI loans and leases: Commercial: Construction and land development $ 1,468 $ 1,757 $ 1,563 $ 4,788 $ 714,746 $ 719,534 Commercial mortgage 14,025 9,073 7,213 30,311 11,306,373 11,336,684 Other commercial real estate — 698 — 698 506,062 506,760 Commercial and industrial and leases 13,227 3,196 3,860 20,283 3,960,221 3,980,504 Other 68 5 — 73 301,273 301,346 Total commercial loans 28,788 14,729 12,636 56,153 16,788,675 16,844,828 Noncommercial: Residential mortgage 26,250 13,109 15,214 54,573 4,736,063 4,790,636 Revolving mortgage 14,044 3,207 9,355 26,606 2,444,047 2,470,653 Construction and land development 255 214 1,617 2,086 312,985 315,071 Consumer 8,645 3,099 2,912 14,656 1,740,946 1,755,602 Total noncommercial loans 49,194 19,629 29,098 97,921 9,234,041 9,331,962 Total non-PCI loans and leases $ 77,982 $ 34,358 $ 41,734 $ 154,074 $ 26,022,716 $ 26,176,790 December 31, 2018 (Dollars in thousands) 30-59 days 60-89 days 90 days or greater Total past Current Total loans Non-PCI loans and leases: Commercial: Construction and land development $ 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 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 |
Recorded Investment, By Class, In Loans And Leases On Nonaccrual Status And Loans And Leases Greater Than 90 Days Past Due And Still Accruing | The recorded investment, by class, in non-PCI loans and leases on nonaccrual status, and loans and leases greater than 90 days past due and still accruing at June 30, 2019 and December 31, 2018 , were as follows: June 30, 2019 December 31, 2018 (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 Commercial: Construction and land development $ 1,634 $ — $ 666 $ — Commercial mortgage 20,859 440 12,594 — Commercial and industrial and leases 5,944 703 4,624 808 Other commercial real estate 179 — 366 — Other 230 — 279 — Total commercial loans 28,846 1,143 18,529 808 Noncommercial: Construction and land development 1,786 — 1,823 — Residential mortgage 43,467 297 35,662 — Revolving mortgage 24,145 34 25,563 — Consumer 2,457 1,994 2,969 2,080 Total noncommercial loans 71,855 2,325 66,017 2,080 Total non-PCI loans and leases $ 100,701 $ 3,468 $ 84,546 $ 2,888 |
Schedule Of Loans And Leases Purchased | 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 $ 37,486 Assets Cash and due from banks $ 4,633 Overnight investments 3,188 Investment securities 23,512 Loans 179,243 Premises and equipment 4,944 Other real estate owned 1,567 Income earned not collected 604 Intangible assets 2,268 Other assets 19,192 Total assets acquired 239,151 Liabilities Deposits 207,556 Borrowings 5,155 Other liabilities 2,850 Total liabilities assumed $ 215,561 Fair value of net assets acquired 23,590 Goodwill recorded for First South Bancorp $ 13,896 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 $ 118,949 Assets Cash and due from banks $ 78,010 Overnight investments 306 Investment securities held to maturity 34,539 Loans 863,384 Premises and equipment 1,533 Other real estate owned 2,046 Income earned not collected 3,049 Intangible assets 4,745 Other assets 41,572 Total assets acquired 1,029,184 Liabilities Deposits 786,512 Borrowings 157,415 Other liabilities 12,829 Total liabilities assumed $ 956,756 Fair value of net assets acquired 72,428 Goodwill recorded for Biscayne Bancshares $ 46,521 The following table relates to purchased non-PCI loans acquired in the Biscayne Bancshares and First South Bancorp transactions and provides the contractually required payments, estimate of contractual cash flows not expected to be collected and fair value of the acquired loans at the acquisition date: (Dollars in thousands) Biscayne Bancshares First South Bancorp Contractually required payments $ 1,078,854 $ 175,465 Fair value at acquisition date 850,352 162,845 The recorded fair values of purchased non-PCI loans acquired in the Biscayne Bancshares and First South Bancorp transactions as of the acquisition date are as follows: (Dollars in thousands) Biscayne Bancshares First South Bancorp Commercial: Construction and land development $ 15,647 $ 8,663 Commercial mortgage 203,605 74,713 Other commercial real estate 98,107 7,509 Commercial and industrial and leases 28,135 40,208 Total commercial loans 345,494 131,093 Noncommercial: Residential mortgage 405,419 24,641 Revolving mortgage 54,081 2,162 Construction and land development 31,668 3,552 Consumer 13,690 1,397 Total noncommercial loans 504,858 31,752 Total non-PCI loans $ 850,352 $ 162,845 Purchased credit-impaired loans The following table relates to PCI loans acquired in the Biscayne Bancshares and First South Bancorp transactions and 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 acquisition date: (Dollars in thousands) Biscayne Bancshares First South Bancorp Contractually required payments $ 19,720 $ 23,389 Contractual cash flows expected to be collected 16,815 21,392 Fair value at acquisition date 13,032 16,398 The recorded fair values of PCI loans acquired in the Biscayne Bancshares and First South Bancorp transactions as of the acquisition date are as follows: (Dollars in thousands) Biscayne Bancshares First South Bancorp Commercial: Construction and land development $ — $ 1,233 Commercial mortgage 7,589 9,355 Commercial and industrial and leases 1,660 1,202 Total commercial loans 9,249 11,790 Noncommercial: Residential mortgage 3,783 4,591 Construction and land development — 17 Total noncommercial loans 3,783 4,608 Total PCI loans $ 13,032 $ 16,398 |
Changes In Carrying Value Of PCI Loans | The following table provides changes in the carrying value of all PCI loans during the six months ended June 30, 2019 and June 30, 2018 : (Dollars in thousands) 2019 2018 Balance at January 1 $ 606,576 $ 762,998 Fair value of acquired loans 29,430 15,555 Accretion 29,648 32,188 Payments received and other changes, net (114,207 ) (136,472 ) Balance at June 30 $ 551,447 $ 674,269 Unpaid principal balance at June 30 $ 805,754 $ 1,044,148 |
Changes in Carrying Value of Accretable Yield for PCI Loans | The following table documents changes to the amount of accretable yield for the first six months of 2019 and 2018 : (Dollars in thousands) 2019 2018 Balance at January 1 $ 312,894 $ 316,679 Additions from Biscayne Bancshares and First South Bancorp acquisitions 8,777 — Additions from Homebancorp acquisition — 4,142 Accretion (29,648 ) (32,188 ) Reclassifications from nonaccretable difference 3,695 6,899 Changes in expected cash flows that do not affect nonaccretable difference (15,682 ) 48,988 Balance at June 30 $ 280,036 $ 344,520 |
Allowance for Loan and Lease _2
Allowance for Loan and Lease Losses (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Receivables [Abstract] | |
Allowance for Loan and Lease Losses | Three months ended June 30, 2019 (Dollars in thousands) Construction Commercial Other Commercial Other Residential Revolving Construction Consumer Total Non-PCI Loans Allowance for loan and lease losses: Balance at April 1 $ 37,476 $ 45,281 $ 2,399 $ 57,025 $ 2,167 $ 16,987 $ 21,495 $ 2,473 $ 34,492 $ 219,795 Provision (credits) (5,544 ) 3,714 (57 ) 2,699 (174 ) 371 (328 ) 277 4,877 5,835 Charge-offs (28 ) (89 ) — (3,422 ) (31 ) (478 ) (493 ) — (6,061 ) (10,602 ) Recoveries 40 56 — 599 221 52 447 — 1,797 3,212 Balance at June 30 $ 31,944 $ 48,962 $ 2,342 $ 56,901 $ 2,183 $ 16,932 $ 21,121 $ 2,750 $ 35,105 $ 218,240 Three months ended June 30, 2018 (Dollars in thousands) Construction Commercial Other Commercial Other Residential Revolving Construction Consumer Total Balance at April 1 $ 26,718 $ 43,833 $ 3,423 $ 59,317 $ 4,842 $ 16,489 $ 22,104 $ 3,913 $ 30,181 $ 210,820 Provision (credits) (3,139 ) 866 468 3,791 (114 ) 1,492 289 50 4,574 8,277 Charge-offs (8 ) (459 ) (69 ) (2,439 ) (38 ) (289 ) (1,027 ) (37 ) (5,312 ) (9,678 ) Recoveries 93 225 1 642 1 110 520 101 1,330 3,023 Balance at June 30 $ 23,664 $ 44,465 $ 3,823 $ 61,311 $ 4,691 $ 17,802 $ 21,886 $ 4,027 $ 30,773 $ 212,442 Six months ended June 30, 2019 (Dollars in thousands) Construction Commercial Other Commercial Other Residential Revolving Construction Consumer Total Balance at January 1 $ 35,270 $ 43,451 $ 2,481 $ 55,620 $ 2,221 $ 15,472 $ 21,862 $ 2,350 $ 35,841 $ 214,568 Provision (credits) (3,425 ) 6,085 (140 ) 5,424 (672 ) 1,879 (119 ) 400 8,317 17,749 Charge-offs (72 ) (850 ) — (5,280 ) (31 ) (644 ) (1,456 ) — (12,423 ) (20,756 ) Recoveries 171 276 1 1,137 665 225 834 — 3,370 6,679 Balance at June 30 $ 31,944 $ 48,962 $ 2,342 $ 56,901 $ 2,183 $ 16,932 $ 21,121 $ 2,750 $ 35,105 $ 218,240 Six months ended June 30, 2018 (Dollars in thousands) Construction Commercial Other Commercial Other Residential Revolving Construction Consumer Total Balance at January 1 $ 24,470 $ 45,005 $ 4,571 $ 59,824 $ 4,689 $ 15,706 $ 22,436 $ 3,962 $ 31,204 $ 211,867 Provision (credits) (914 ) (499 ) (825 ) 4,353 — 3,004 755 157 7,497 13,528 Charge-offs (8 ) (505 ) (69 ) (4,768 ) (41 ) (1,095 ) (2,019 ) (219 ) (10,567 ) (19,291 ) Recoveries 116 464 146 1,902 43 187 714 127 2,639 6,338 Balance at June 30 $ 23,664 $ 44,465 $ 3,823 $ 61,311 $ 4,691 $ 17,802 $ 21,886 $ 4,027 $ 30,773 $ 212,442 The following tables provide information on non-PCI impaired loans and leases, exclusive of loans and leases evaluated collectively as a homogeneous group: June 30, 2019 (Dollars in thousands) With a With no Total Unpaid Related Non-PCI impaired loans and leases: Commercial: Construction and land development $ 463 $ 1,615 $ 2,078 $ 2,490 $ 196 Commercial mortgage 38,793 23,477 62,270 68,477 3,042 Other commercial real estate 197 309 506 595 11 Commercial and industrial and leases 8,155 4,006 12,161 17,333 1,422 Other 249 66 315 336 104 Total commercial loans 47,857 29,473 77,330 89,231 4,775 Noncommercial: Residential mortgage 43,349 9,788 53,137 56,860 2,566 Revolving mortgage 26,104 3,936 30,040 33,135 2,704 Construction and land development 1,647 1,412 3,059 3,353 82 Consumer 3,039 68 3,107 3,476 971 Total noncommercial loans 74,139 15,204 89,343 96,824 6,323 Total non-PCI impaired loans and leases $ 121,996 $ 44,677 $ 166,673 $ 186,055 $ 11,098 December 31, 2018 (Dollars in thousands) With a With no Total Unpaid Related Non-PCI impaired loans and leases: Commercial: Construction and land development $ 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 Total commercial loans 43,686 24,955 68,641 79,865 4,445 Noncommercial: 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 2,337 1,412 3,749 4,035 81 Consumer 2,940 80 3,020 3,405 885 Total noncommercial loans 71,387 6,402 77,789 84,037 5,382 Total non-PCI impaired loans and leases $ 115,073 $ 31,357 $ 146,430 $ 163,902 $ 9,827 Non-PCI impaired loans less than $500,000 that were collectively evaluated for impairment totaled $39.9 million and $47.1 million at June 30, 2019 and December 31, 2018 , respectively. The following tables show the average non-PCI impaired loan balance and the interest income recognized by loan class for the three and six months ended June 30, 2019 and June 30, 2018 : Three months ended June 30, 2019 Three months ended June 30, 2018 (Dollars in thousands) Average Interest income recognized Average Interest income recognized Non-PCI impaired loans and leases: Commercial: Construction and land development $ 2,102 $ 6 $ 1,485 $ 17 Commercial mortgage 58,906 538 68,113 659 Other commercial real estate 519 6 1,345 12 Commercial and industrial and leases 11,348 113 9,427 90 Other 328 2 67 — Total commercial 73,203 665 80,437 778 Noncommercial: Residential mortgage 48,490 317 42,046 298 Revolving mortgage 29,623 256 26,388 222 Construction and land development 3,547 32 3,526 44 Consumer 3,014 31 2,654 28 Total noncommercial 84,674 636 74,614 592 Total non-PCI impaired loans and leases $ 157,877 $ 1,301 $ 155,051 $ 1,370 Six months ended June 30, 2019 Six months ended June 30, 2018 (Dollars in thousands) Average Interest income recognized Average Interest income recognized Non-PCI impaired loans and leases: Commercial: Construction and land development $ 2,125 $ 34 $ 1,320 $ 28 Commercial mortgage 57,768 1,102 70,190 1,370 Other commercial real estate 602 14 1,529 23 Commercial and industrial and leases 10,674 213 9,594 177 Other 322 4 34 — Total commercial 71,491 1,367 82,667 1,598 Noncommercial: Residential mortgage 45,558 642 40,385 573 Revolving mortgage 29,183 503 25,590 423 Construction and land development 3,647 68 3,815 92 Consumer 3,007 60 2,581 56 Total noncommercial 81,395 1,273 72,371 1,144 Total non-PCI impaired loans and leases $ 152,886 $ 2,640 $ 155,038 $ 2,742 six months ended June 30, 2019 and June 30, 2018 is summarized as follows: (Dollars in thousands) Three months ended June 30, 2019 Three months ended June 30, 2018 PCI Loans Allowance for loan losses: Balance at April 1 $ 8,980 $ 12,296 (Credit) provision (637 ) 161 Charge-offs — (34 ) Recoveries — — Balance at June 30 $ 8,343 $ 12,423 Six months ended June 30, 2019 Six months ended June 30, 2018 Balance at January 1 $ 9,144 $ 10,026 (Credit) provision (801 ) 2,515 Charge-offs — (118 ) Recoveries — — Balance at June 30 $ 8,343 $ 12,423 |
Allocation of Allowance for Loan and Lease Losses | The following table presents the PCI allowance and recorded investment in loans at June 30, 2019 and December 31, 2018 : (Dollars in thousands) June 30, 2019 December 31, 2018 ALLL for loans acquired with deteriorated credit quality $ 8,343 $ 9,144 Loans acquired with deteriorated credit quality 551,447 606,576 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 June 30, 2019 and December 31, 2018 : June 30, 2019 (Dollars in thousands) Construction Commercial Other Commercial Other Residential Revolving Construction Consumer Total Non-PCI Loans Allowance for loan and lease losses: ALLL for loans and leases individually evaluated for impairment $ 196 $ 3,042 $ 11 $ 1,422 $ 104 $ 2,566 $ 2,704 $ 82 $ 971 $ 11,098 ALLL for loans and leases collectively evaluated for impairment 31,748 45,920 2,331 55,479 2,079 14,366 18,417 2,668 34,134 207,142 Total allowance for loan and lease losses $ 31,944 $ 48,962 $ 2,342 $ 56,901 $ 2,183 $ 16,932 $ 21,121 $ 2,750 $ 35,105 $ 218,240 Loans and leases: Loans and leases individually evaluated for impairment $ 2,078 $ 62,270 $ 506 $ 12,161 $ 315 $ 53,137 $ 30,040 $ 3,059 $ 3,107 $ 166,673 Loans and leases collectively evaluated for impairment 717,456 11,274,414 506,254 3,968,343 301,031 4,737,499 2,440,613 312,012 1,752,495 26,010,117 Total loan and leases $ 719,534 $ 11,336,684 $ 506,760 $ 3,980,504 $ 301,346 $ 4,790,636 $ 2,470,653 $ 315,071 $ 1,755,602 $ 26,176,790 December 31, 2018 (Dollars in thousands) Construction Commercial Other Commercial Other Residential Revolving Construction 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 |
Troubled Debt Restructurings on Financing Receivables | The following table provides the types of TDRs made during the three and six months ended June 30, 2019 and June 30, 2018 , as well as a summary of loans that were modified as a TDR during the twelve month periods ended June 30, 2019 and June 30, 2018 that subsequently defaulted during the three and six months ended June 30, 2019 and June 30, 2018 . BancShares defines payment default as movement of the TDR to nonaccrual status, which is generally 90 days past due for TDRs, foreclosure or charge-off, whichever occurs first. Three months ended June 30, 2019 Three months ended June 30, 2018 All restructurings Restructurings with payment default All restructurings Restructurings with payment default (Dollars in thousands) 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 Loans and leases Interest only 4 $ 4,343 — $ — 1 $ 154 2 $ 821 Loan term extension 4 998 2 183 10 936 7 341 Below market interest rate 67 6,979 30 2,612 53 9,525 33 1,702 Discharged from bankruptcy 40 5,054 30 3,106 37 2,472 24 1,490 Total restructurings 115 $ 17,374 62 $ 5,901 101 $ 13,087 66 $ 4,354 Six months ended June 30, 2019 Six months ended June 30, 2018 All restructurings Restructurings with payment default All restructurings Restructurings with payment default (Dollars in thousands) 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 Loans and leases Interest only 4 $ 4,343 2 $ 3,203 2 $ 821 2 $ 821 Loan term extension 8 1,437 4 534 17 1,658 8 638 Below market interest rate 125 11,063 61 4,645 139 15,873 64 3,385 Discharged from bankruptcy 102 7,679 53 3,948 91 5,595 55 4,338 Total restructurings 239 $ 24,522 120 $ 12,330 249 $ 23,947 129 $ 9,182 For the three and six months ended June 30, 2019 and June 30, 2018 , the pre-modification and post-modification outstanding recorded investments of loans modified as TDRs were not materially different. The following table provides a summary of total TDRs by accrual status. Total TDRs included $18.0 million and $18.2 million of PCI TDRs at June 30, 2019 and December 31, 2018 , respectively: June 30, 2019 December 31, 2018 (Dollars in thousands) Accruing Nonaccruing Total Accruing Nonaccruing Total Commercial loans: Construction and land development $ 567 $ 1,626 $ 2,193 $ 1,946 $ 352 $ 2,298 Commercial mortgage 51,374 7,886 59,260 53,270 7,795 61,065 Other commercial real estate 506 — 506 851 9 860 Commercial and industrial and leases 9,851 2,345 12,196 7,986 2,060 10,046 Other 107 208 315 118 173 291 Total commercial loans 62,405 12,065 74,470 64,171 10,389 74,560 Noncommercial: Residential mortgage 36,260 17,839 54,099 37,903 9,621 47,524 Revolving mortgage 21,203 8,919 30,122 20,492 8,196 28,688 Construction and land development 1,495 1,565 3,060 2,227 110 2,337 Consumer 2,437 669 3,106 2,300 721 3,021 Total noncommercial loans 61,395 28,992 90,387 62,922 18,648 81,570 Total loans $ 123,800 $ 41,057 $ 164,857 $ 127,093 $ 29,037 $ 156,130 |
Other Real Estate Owned (Tables
Other Real Estate Owned (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Banking and Thrift [Abstract] | |
Changes in other real estate owned | The following table explains changes in OREO during the six months ended June 30, 2019 and June 30, 2018 : (Dollars in thousands) Total Balance at December 31, 2018 $ 48,030 Additions 7,894 Acquired 3,613 Sales (11,012 ) Write-downs (2,289 ) Balance at June 30, 2019 $ 46,236 Balance at December 31, 2017 $ 51,097 Additions 11,868 Acquired 2,135 Sales (15,769 ) Write-downs (2,698 ) Balance at June 30, 2018 $ 46,633 |
FDIC Shared-Loss Receivable (Ta
FDIC Shared-Loss Receivable (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
FDIC Shared-Loss Receivable [Abstract] | |
Changes In Payable to FDIC | The following table provides changes in the FDIC shared-loss payable since December 31, 2018 : (Dollars in thousands) Total Balance at December 31, 2018 $ 105,618 Accretion 3,274 Balance at June 30, 2019 $ 108,892 |
Mortgage Servicing Rights (Tabl
Mortgage Servicing Rights (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Mortgage Servicing Rights [Abstract] | |
Mortgage servicing rights | The following table explains changes in the servicing asset during the three and six months ended June 30 , 2019 and 2018 : Three months ended June 30 Six months ended June 30 (Dollars in thousands) 2019 2018 2019 2018 Beginning balance $ 20,647 $ 21,659 $ 21,396 $ 21,945 Servicing rights originated 1,552 1,430 2,411 2,630 Amortization (1,567 ) (1,432 ) (3,014 ) (2,918 ) Valuation allowance credit (provision) 33 — (128 ) — Ending balance $ 20,665 $ 21,657 $ 20,665 $ 21,657 |
Mortgage servicing rights economic assumptions | Mortgage servicing rights valuations are performed using a pooling methodology where similar loans are grouped together and evaluated using discounted cash flows to estimate the present value of future earnings. Key economic assumptions used to value mortgage servicing rights were as follows: June 30, 2019 December 31, 2018 Discount rate - conventional fixed loans 9.01 % 9.69 % Discount rate - all loans excluding conventional fixed loans 10.01 % 10.69 % Weighted average constant prepayment rate 13.39 % 9.26 % Weighted average cost to service a loan $ 88.03 $ 87.52 |
Estimated Fair Values (Tables)
Estimated Fair Values (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Fair Value Disclosures [Abstract] | |
Estimated Fair Values For Certain Financial Assets And Financial Liabilities | The table presents the carrying values and estimated fair values for financial instruments as of June 30, 2019 and December 31, 2018 : (Dollars in thousands) June 30, 2019 December 31, 2018 Carrying value Fair value Carrying value Fair value Cash and due from banks $ 284,147 $ 284,147 $ 327,440 $ 327,440 Overnight investments 1,640,264 1,640,264 797,406 797,406 Investment securities available for sale 4,366,041 4,366,041 4,557,110 4,557,110 Investment securities held to maturity 2,218,048 2,285,283 2,184,653 2,201,502 Investment in marketable equity securities 111,489 111,489 92,599 92,599 Loans held for sale 52,837 52,837 45,505 45,505 Net loans and leases 26,501,654 26,791,041 25,299,564 24,845,060 Income earned not collected 115,303 115,303 109,903 109,903 Federal Home Loan Bank stock 25,545 25,545 25,304 25,304 Mortgage and other servicing rights 22,809 25,129 24,066 27,435 Deposits 32,719,671 31,461,196 30,672,460 30,623,214 Securities sold under customer repurchase agreements 544,527 544,527 543,936 543,936 Federal Home Loan Bank borrowings 197,131 203,464 193,556 195,374 Subordinated debentures 154,277 166,374 140,741 151,670 Other borrowings 18,446 18,625 13,921 13,985 FDIC shared-loss payable 108,892 111,298 105,618 105,846 Accrued interest payable 14,197 14,197 3,712 3,712 |
Assets And Liabilities Carried At Fair Value 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 June 30, 2019 and December 31, 2018 : June 30, 2019 Fair value measurements using: (Dollars in thousands) Fair value Level 1 inputs Level 2 inputs Level 3 inputs Assets measured at fair value Investment securities available for sale U.S. Treasury $ 948,402 $ — $ 948,402 $ — Government agency 534,804 — 534,804 — Mortgage-backed securities 2,733,698 — 2,733,698 — Corporate bonds 149,137 — — 149,137 Total investment securities available for sale $ 4,366,041 $ — $ 4,216,904 $ 149,137 Marketable equity securities $ 111,489 $ 24,991 $ 86,498 $ — Loans held for sale $ 52,837 $ — $ 52,837 $ — December 31, 2018 Fair value measurements using: Fair value Level 1 inputs Level 2 inputs Level 3 inputs 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 143,226 — — 143,226 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 $ — |
Fair Value of Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation | The following tables summarize activity for Level 3 assets: Six months ended June 30, 2019 (Dollars in thousands) Corporate bonds Balance at January 1, 2019 $ 143,226 Amounts included in net income 82 Unrealized net gains included in other comprehensive income 1,838 Purchases 3,991 Balance at June 30, 2019 $ 149,137 |
Fair Value Level 3 Significant Unobservable Input Assumptions | (Dollars in thousands) June 30, 2019 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 $ 149,137 |
Fair Value Option | The following table summarizes the difference between the aggregate fair value and the aggregate unpaid principal balance for residential real estate originated for sale measured at fair value as of June 30, 2019 and December 31, 2018 : June 30, 2019 (Dollars in thousands) Fair Value Aggregate Unpaid Principal Balance Difference Originated loans held for sale $ 52,837 $ 51,237 $ 1,600 December 31, 2018 Fair Value Aggregate Unpaid Principal Balance Difference Originated loans held for sale $ 45,505 $ 44,073 $ 1,432 No originated loans held for sale were 90 or more days past due or on nonaccrual status as of June 30, 2019 or December 31, 2018 . We may be required to measure certain financial assets at fair value on a nonrecurring basis. These adjustments to fair value usually result from the application of lower of amortized cost or fair value accounting or write-downs of individual assets due to impairment. Impaired loans are deemed to be at fair value if an associated allowance 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% 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 2% and 18% . OREO acquired or written down within the previous 12 months is deemed to be at fair value. Asset valuations are determined by using appraisals or other third-party value estimates of the subject property with discounts generally between 6% and 11% 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. |
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 June 30, 2019 and December 31, 2018 : June 30, 2019 Fair value measurements using: (Dollars in thousands) Fair value Level 1 inputs Level 2 inputs Level 3 inputs Impaired loans $ 120,783 $ — $ — $ 120,783 Other real estate remeasured during the previous 12 months 20,079 — — 20,079 December 31, 2018 Fair value measurements using: Fair value Level 1 inputs Level 2 inputs Level 3 inputs Impaired loans $ 105,994 $ — $ — $ 105,994 Other real estate remeasured during the previous 12 months 35,344 — — 35,344 |
Employee Benefit Plans (Tables)
Employee Benefit Plans (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
BancShares Plan | |
Defined Benefit Plan Disclosure [Line Items] | |
Schedule of Net Benefit Costs | BancShares Plan For the three and six months ended June 30, 2019 and 2018 , the components of net periodic benefit cost are as follows: Three months ended June 30 Six months ended June 30 (Dollars in thousands) 2019 2018 2019 2018 Service cost $ 2,690 $ 3,362 $ 5,258 $ 6,791 Interest cost 7,581 7,131 15,112 14,188 Expected return on assets (12,886 ) (11,976 ) (25,753 ) (23,933 ) Amortization of prior service cost 14 20 28 40 Amortization of net actuarial loss 2,084 3,548 4,198 6,794 Net periodic (benefit) cost $ (517 ) $ 2,085 $ (1,157 ) $ 3,880 |
Bancorporation Plan | |
Defined Benefit Plan Disclosure [Line Items] | |
Schedule of Net Benefit Costs | Bancorporation Plan For the three and six months ended June 30, 2019 and 2018 , the components of net periodic benefit cost are as follows: Three months ended June 30 Six months ended June 30 (Dollars in thousands) 2019 2018 2019 2018 Service cost $ 581 $ 624 $ 1,126 $ 1,286 Interest cost 1,757 1,592 3,517 3,179 Expected return on assets (2,775 ) (3,110 ) (5,543 ) (6,216 ) Amortization of net actuarial loss 637 86 1,264 157 Net periodic cost (benefit) $ 200 $ (808 ) $ 364 $ (1,594 ) |
Commitments and Contingencies (
Commitments and Contingencies (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | |
Schedule of fair falue for off-balance sheet risks | The following table presents the commitments to extend credit and unfunded commitments as of June 30, 2019 and December 31, 2018 : (Dollars in thousands) June 30, 2019 December 31, 2018 Unused commitments to extend credit $ 10,348,284 $ 10,054,712 Standby letters of credit 94,307 96,467 Unfunded commitments for investments in affordable housing projects 80,383 67,952 |
Accumulated Other Comprehensi_2
Accumulated Other Comprehensive Income (Loss) (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | |
Schedule Of Accumulated Other Comprehensive Income (Loss) | Accumulated other comprehensive income (loss) included the following as of June 30, 2019 and December 31, 2018 : June 30, 2019 December 31, 2018 (Dollars in thousands) Accumulated Deferred Accumulated Accumulated Deferred Accumulated Unrealized gains (losses) on securities available for sale $ 3,316 $ 762 $ 2,554 $ (50,007 ) $ (11,502 ) $ (38,505 ) Unrealized losses on securities available for sale transferred to held to maturity (80,492 ) (18,513 ) (61,979 ) (92,401 ) (21,252 ) (71,149 ) Defined benefit pension items (157,540 ) (36,234 ) (121,306 ) (163,030 ) (37,497 ) (125,533 ) Total $ (234,716 ) $ (53,985 ) $ (180,731 ) $ (305,438 ) $ (70,251 ) $ (235,187 ) The following table highlights changes in accumulated other comprehensive income (loss) by component for the three and six months ended June 30, 2019 and June 30, 2018 : Three months ended June 30, 2019 (Dollars in thousands) Unrealized gains (losses) 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 Beginning balance $ (16,890 ) $ (66,558 ) $ (123,412 ) $ (206,860 ) Net unrealized gains arising during period 23,848 — — 23,848 Amounts reclassified from accumulated other comprehensive loss (4,404 ) 4,579 2,106 2,281 Net current period other comprehensive income 19,444 4,579 2,106 26,129 Ending balance $ 2,554 $ (61,979 ) $ (121,306 ) $ (180,731 ) Three months ended June 30, 2018 (Dollars in thousands) Unrealized gains (losses) 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 Beginning balance $ (121,243 ) $ — $ (109,080 ) $ (230,323 ) Net unrealized gains (losses) arising during period 63,747 (84,321 ) — (20,574 ) Amounts reclassified from accumulated other comprehensive loss — 3,445 2,814 6,259 Net current period other comprehensive income (loss) 63,747 (80,876 ) 2,814 (14,315 ) Ending balance $ (57,496 ) $ (80,876 ) $ (106,266 ) $ (244,638 ) Six months ended June 30, 2019 (Dollars in thousands) Unrealized gains (losses) 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 Beginning balance $ (38,505 ) $ (71,149 ) $ (125,533 ) $ (235,187 ) Net unrealized gains arising during period 45,463 — — 45,463 Amounts reclassified from accumulated other comprehensive loss (4,404 ) 9,170 4,227 8,993 Net current period other comprehensive income 41,059 9,170 4,227 54,456 Ending balance $ 2,554 $ (61,979 ) $ (121,306 ) $ (180,731 ) Six months ended June 30, 2018 (Dollars in thousands) Unrealized gains (losses) 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 Beginning balance $ (30,945 ) $ — $ (91,349 ) $ (122,294 ) Cumulative effect adjustments (29,751 ) — (20,300 ) (50,051 ) Adjusted beginning balance (60,696 ) — (111,649 ) (172,345 ) Net unrealized gains (losses) arising during period 3,200 (84,321 ) — (81,121 ) Amounts reclassified from accumulated other comprehensive loss — 3,445 5,383 8,828 Net current period other comprehensive income (loss) 3,200 (80,876 ) 5,383 (72,293 ) Ending balance $ (57,496 ) $ (80,876 ) $ (106,266 ) $ (244,638 ) (1) |
Reclassification out of Accumulated Other Comprehensive Income | The following table presents the amounts reclassified from accumulated other comprehensive income (loss) and the line item affected in the statement where net income is presented for the three and six months ended June 30, 2019 and June 30, 2018 : Three months ended June 30, 2019 (Dollars in thousands) Details about accumulated other comprehensive income (loss) Amounts reclassified from accumulated other comprehensive income (loss) (1) Affected line item in the statement where net income is presented Unrealized gains on securities available for sale $ 5,719 Securities gains, net (1,315 ) Income taxes $ 4,404 Net income Amortization of unrealized losses on securities available for sale transferred to held to maturity $ (5,947 ) Net interest income 1,368 Income taxes $ (4,579 ) Net Income Amortization of defined benefit pension items Prior service costs $ (14 ) Salaries and wages Actuarial losses (2,721 ) Other (2,735 ) Income before income taxes 629 Income taxes $ (2,106 ) Net income Total reclassifications for the period $ (2,281 ) Three months ended June 30, 2018 Details about accumulated other comprehensive income (loss) Amounts reclassified from accumulated other comprehensive income (loss) (1) Affected line item in the statement where net income is presented Amortization of unrealized losses on securities available for sale transferred to held to maturity $ (4,473 ) Net interest income 1,028 Income taxes $ (3,445 ) Net Income Amortization of defined benefit pension items Prior service costs $ (20 ) Salaries and wages Actuarial losses (3,634 ) Other (3,654 ) Income before income taxes 840 Income taxes $ (2,814 ) Net income Total reclassifications for the period $ (6,259 ) (1) Amounts in parentheses indicate debits to profit/loss. Six months ended June 30, 2019 Details about accumulated other comprehensive income (loss) Amounts reclassified from accumulated other comprehensive income (loss) (1) Affected line item in the statement where net income is presented Unrealized gains on securities available for sale $ 5,719 Securities gains, net (1,315 ) Income taxes $ 4,404 Net income Amortization of unrealized losses on securities available for sale transferred to held to maturity $ (11,909 ) Net interest income 2,739 Income taxes $ (9,170 ) Net income Amortization of defined benefit pension items Prior service costs $ (28 ) Salaries and wages Actuarial losses (5,462 ) Other (5,490 ) Income before income taxes 1,263 Income taxes $ (4,227 ) Net income Total reclassifications for the period $ (8,993 ) Six months ended June 30, 2018 Details about accumulated other comprehensive income (loss) Amounts reclassified from accumulated other comprehensive income (loss) (1) Affected line item in the statement where net income is presented Amortization of unrealized losses on securities available for sale transferred to held to maturity $ (4,473 ) Net interest income 1,028 Income taxes $ (3,445 ) Net income Amortization of defined benefit pension items Prior service costs $ (40 ) Salaries and wages Actuarial losses (6,951 ) Other (6,991 ) Income before income taxes 1,608 Income taxes $ (5,383 ) Net income Total reclassifications for the period $ (8,828 ) (1) Amounts in parentheses indicate debits to profit/loss. |
Leases (Tables)
Leases (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Leases [Abstract] | |
Schedule of Operating and Finance Lease Assets and Liabilities | The following table presents lease assets and liabilities as of June 30, 2019 : (Dollars in thousands) Classification June 30, 2019 Assets: Operating Other assets $ 81,534 Finance Premises and equipment 8,098 Total leased assets 89,632 Liabilities: Operating Other liabilities 80,562 Finance Other borrowings 7,459 Total lease liabilities $ 88,021 |
Schedule of Net Lease Cost | (Dollars in thousands) Classification Three months ended June 30, 2019 Six months ended June 30, 2019 Lease cost: Operating lease cost (1) Occupancy expense $ 3,581 $ 6,785 Finance lease cost: Amortization of leased assets Equipment expense 446 893 Interest on lease liabilities Interest expense - Other borrowings 62 127 Variable lease cost Occupancy expense 724 1,252 Sublease income Occupancy expense (86 ) (216 ) Net lease cost $ 4,727 $ 8,841 (1) Operating lease cost includes short-term lease cost, which is immaterial. |
Schedule of Lease Liability Maturities | The following table presents lease liability maturities in the next five years and thereafter: (Dollars in thousands) Operating Leases Finance Leases Total 2019 (1) $ 7,267 $ 870 $ 8,137 2020 13,693 1,748 15,441 2021 12,129 1,764 13,893 2022 10,763 1,481 12,244 2023 8,908 599 9,507 Thereafter 42,606 1,683 44,289 Total lease payments $ 95,366 $ 8,145 $ 103,511 Less: Interest 14,804 686 15,490 Present value of lease liabilities $ 80,562 $ 7,459 $ 88,021 (1) Represents the lease liability payments that will be made for the period July 1, 2019 through December 31, 2019. |
Schedule of Lease Liability Maturities | The following table presents lease liability maturities in the next five years and thereafter: (Dollars in thousands) Operating Leases Finance Leases Total 2019 (1) $ 7,267 $ 870 $ 8,137 2020 13,693 1,748 15,441 2021 12,129 1,764 13,893 2022 10,763 1,481 12,244 2023 8,908 599 9,507 Thereafter 42,606 1,683 44,289 Total lease payments $ 95,366 $ 8,145 $ 103,511 Less: Interest 14,804 686 15,490 Present value of lease liabilities $ 80,562 $ 7,459 $ 88,021 (1) Represents the lease liability payments that will be made for the period July 1, 2019 through December 31, 2019. |
Schedule of Remaining Weighted Average Lease Terms and Discount Rates | The following table presents the remaining weighted average lease terms and discount rates as of June 30, 2019 : Weighted average remaining lease term (years): June 30, 2019 Operating 9.7 Finance 5.2 Weighted average discount rate: Operating 3.26 % Finance 3.23 |
Schedule of Supplemental Cash Flow Information | The following table presents supplemental cash flow information related to leases for the six months ended June 30, 2019 : (Dollars in thousands) June 30, 2019 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 6,613 Operating cash flows from finance leases 127 Financing cash flows from finance leases 735 Right-of-use assets obtained in exchange for new operating lease liabilities 15,162 Right-of-use assets obtained in exchange for new finance lease liabilities — |
Accounting Policies and Basis_3
Accounting Policies and Basis of Presentation Accounting Policies and Basis of Presentation (Recently Adopted Accounting Standards) (Details) - USD ($) $ / shares in Units, $ in Thousands | Aug. 02, 2019 | Jun. 30, 2019 | Jun. 30, 2019 | Apr. 30, 2019 | Jan. 01, 2019 | Oct. 31, 2018 |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||||
Number of shares authorized to be repurchased (in shares) | 800,000 | 800,000 | ||||
Stock repurchased during period (in shares) | 205,500 | 448,500 | ||||
Stock repurchased during period | $ 89,800 | $ 190,500 | ||||
Stock repurchased during period (in USD per share) | $ 436.81 | $ 424.77 | ||||
Total number of shares repurchase (in shares) | 630,500 | 630,500 | ||||
Operating lease assets | $ 81,534 | $ 81,534 | ||||
Present value of lease liabilities | $ 80,562 | $ 80,562 | ||||
Accounting Standards Update 2016-02 | ||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||||
Operating lease assets | $ 70,700 | |||||
Present value of lease liabilities | 71,800 | |||||
Right-of-use asset previously classified as capital lease | 9,100 | |||||
Liability previously classified as capital lease | 8,300 | |||||
Accounting Standards Update 2016-02 | HomeBancorp Inc. | ||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||||
Present value of lease liabilities | $ 1,100 | |||||
Subsequent Event | ||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||||
Stock repurchased during period (in shares) | 69,600 | |||||
Stock repurchased during period | $ 31,700 | |||||
Stock repurchased during period (in USD per share) | $ 455.94 |
Business Combinations (Details)
Business Combinations (Details) - USD ($) $ / shares in Units, $ in Thousands | May 01, 2019 | Apr. 23, 2019 | Apr. 02, 2019 | Jun. 30, 2019 | Dec. 31, 2018 |
Business Acquisition [Line Items] | |||||
Goodwill recorded for First South Bancorp | $ 296,764 | $ 236,347 | |||
First South Bancorp | |||||
Business Acquisition [Line Items] | |||||
Share price (usd per share) | $ 1.15 | ||||
Purchase price | $ 37,486 | ||||
Assets | 239,151 | ||||
Deposits | 207,556 | ||||
Intangible assets | 2,268 | ||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities | 215,561 | ||||
Goodwill recorded for First South Bancorp | $ 13,896 | ||||
Entegra Financial | |||||
Business Acquisition [Line Items] | |||||
Share price (usd per share) | $ 30.18 | ||||
Purchase price | $ 219,800 | ||||
Assets | 1,660,000 | ||||
Deposits | 1,250,000 | ||||
Loans | 1,090,000 | ||||
Biscayne Bancshares | |||||
Business Acquisition [Line Items] | |||||
Share price (usd per share) | $ 25.05 | ||||
Purchase price | $ 118,949 | ||||
Assets | 1,029,184 | ||||
Deposits | 786,512 | ||||
Intangible assets | 4,745 | ||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities | 956,756 | ||||
Goodwill recorded for First South Bancorp | $ 46,521 | ||||
Non-PCI Loans | First South Bancorp | |||||
Business Acquisition [Line Items] | |||||
Loans acquired | 162,845 | ||||
Non-PCI Loans | Biscayne Bancshares | |||||
Business Acquisition [Line Items] | |||||
Loans acquired | 850,352 | ||||
PCI Loans | First South Bancorp | |||||
Business Acquisition [Line Items] | |||||
Loans acquired | 16,398 | ||||
PCI Loans | Biscayne Bancshares | |||||
Business Acquisition [Line Items] | |||||
Loans acquired | $ 13,032 |
Business Combinations - Assets
Business Combinations - Assets and Liabilities Assumed (Details) - USD ($) $ in Thousands | May 01, 2019 | Apr. 02, 2019 | Jun. 30, 2019 | Dec. 31, 2018 |
Business Acquisition [Line Items] | ||||
Goodwill recorded for First South Bancorp | $ 296,764 | $ 236,347 | ||
First South Bancorp | ||||
Business Acquisition [Line Items] | ||||
Purchase price | $ 37,486 | |||
Cash and due from banks | 4,633 | |||
Overnight investments | 3,188 | |||
Investment securities | 23,512 | |||
Loans | 179,243 | |||
Premises and equipment | 4,944 | |||
Other real estate owned | 1,567 | |||
Income earned not collected | 604 | |||
Intangible assets | 2,268 | |||
Other assets | 19,192 | |||
Total assets acquired | 239,151 | |||
Deposits | 207,556 | |||
Borrowings | 5,155 | |||
Other liabilities | 2,850 | |||
Total liabilities assumed | 215,561 | |||
Fair value of net assets acquired | 23,590 | |||
Goodwill recorded for First South Bancorp | $ 13,896 | |||
Biscayne Bancshares | ||||
Business Acquisition [Line Items] | ||||
Purchase price | $ 118,949 | |||
Cash and due from banks | 78,010 | |||
Overnight investments | 306 | |||
Investment securities | 34,539 | |||
Loans | 863,384 | |||
Premises and equipment | 1,533 | |||
Other real estate owned | 2,046 | |||
Income earned not collected | 3,049 | |||
Intangible assets | 4,745 | |||
Other assets | 41,572 | |||
Total assets acquired | 1,029,184 | |||
Deposits | 786,512 | |||
Borrowings | 157,415 | |||
Other liabilities | 12,829 | |||
Total liabilities assumed | 956,756 | |||
Fair value of net assets acquired | 72,428 | |||
Goodwill recorded for First South Bancorp | $ 46,521 |
Investments (Aggregate Values a
Investments (Aggregate Values and Unrealized Gains and Losses) (Details) - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended | |
Jun. 30, 2019 | Dec. 31, 2019 | Dec. 31, 2018 | |
Investment securities available for sale | |||
Cost | $ 4,362,725 | $ 4,607,117 | |
Gross Unrealized Gains | 12,360 | 6,425 | |
Gross Unrealized Losses | 9,044 | 56,432 | |
Fair Value | 4,366,041 | 4,557,110 | |
Cost | 80,542 | 73,809 | |
Gross unrealized gains | 31,163 | $ 19,010 | |
Gross unrealized losses | 216 | $ 220 | |
Fair value | 111,489 | 92,599 | |
Investment securities held to maturity | |||
Cost | 2,218,048 | 2,184,653 | |
Held To Maturity Securities Accumulated Unrecognized Holding Gain | 67,235 | ||
Held To Maturity Securities Accumulated Unrecognized Holding Loss | 0 | ||
Fair Value | 2,285,283 | 2,201,502 | |
Cost | 6,661,315 | 6,865,579 | |
Gross unrealized gains | 110,758 | 42,774 | |
Gross unrealized losses | 9,260 | 57,142 | |
Fair value | 6,762,813 | 6,851,211 | |
U. S. Treasury | |||
Investment securities available for sale | |||
Cost | 946,859 | 1,249,243 | |
Gross Unrealized Gains | 1,625 | 633 | |
Gross Unrealized Losses | 82 | 2,166 | |
Fair Value | 948,402 | 1,247,710 | |
Agency Securities | |||
Investment securities available for sale | |||
Cost | 533,269 | 257,252 | |
Gross Unrealized Gains | 1,724 | 222 | |
Gross Unrealized Losses | 189 | 639 | |
Fair Value | 534,804 | 256,835 | |
Mortgage Backed Securities | |||
Investment securities available for sale | |||
Cost | 2,734,696 | 2,956,793 | |
Gross Unrealized Gains | 7,420 | 5,309 | |
Gross Unrealized Losses | 8,418 | 52,763 | |
Fair Value | 2,733,698 | 2,909,339 | |
Investment securities held to maturity | |||
Cost | 2,182,500 | 2,184,653 | |
Held To Maturity Securities Accumulated Unrecognized Holding Gain | 67,235 | 17,339 | |
Held To Maturity Securities Accumulated Unrecognized Holding Loss | 0 | 490 | |
Fair Value | 2,249,735 | 2,201,502 | |
Corporate Bonds | |||
Investment securities available for sale | |||
Cost | 147,901 | 143,829 | |
Gross Unrealized Gains | 1,591 | 261 | |
Gross Unrealized Losses | 355 | 864 | |
Fair Value | 149,137 | $ 143,226 | |
Other | |||
Investment securities held to maturity | |||
Cost | 35,548 | ||
Held To Maturity Securities Accumulated Unrecognized Holding Gain | 0 | ||
Held To Maturity Securities Accumulated Unrecognized Holding Loss | 0 | ||
Fair Value | $ 35,548 |
Investments (Maturity Informati
Investments (Maturity Information) (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
Investment securities available for sale | ||
Total investment securities available for sale, cost | $ 4,362,725 | $ 4,607,117 |
Total investment securities available for sale, fair value | 4,366,041 | 4,557,110 |
Investment securities held to maturity | ||
Maturing in one year or less, cost | 34,550 | 0 |
Maturing in one year or less, fair value | 34,550 | 0 |
Maturing in one through five years, cost | 998 | 0 |
Maturing in one through five years, fair value | 998 | 0 |
Investment securities held to maturity | 2,218,048 | 2,184,653 |
Fair Value | 2,285,283 | 2,201,502 |
Debt Securities | ||
Investment securities available for sale | ||
Maturing in one year or less, cost | 897,407 | 1,049,253 |
Maturing in one through five years, cost | 54,935 | 205,526 |
Maturing in five through ten years, cost | 138,484 | 134,370 |
Maturing in over ten years, cost | 3,934 | 3,923 |
Maturing in one year or less, fair value | 898,632 | 1,047,380 |
Maturing in one through five years, fair value | 55,320 | 205,805 |
Maturing in five through ten yeas, fair value | 139,462 | 133,626 |
Maturing in over ten years, fair value | 4,125 | 4,125 |
Agency Securities | ||
Investment securities available for sale | ||
Total investment securities available for sale, cost | 533,269 | 257,252 |
Total investment securities available for sale, fair value | 534,804 | 256,835 |
Mortgage Backed Securities | ||
Investment securities available for sale | ||
Total investment securities available for sale, cost | 2,734,696 | 2,956,793 |
Total investment securities available for sale, fair value | 2,733,698 | 2,909,339 |
Investment securities held to maturity | ||
Investment securities held to maturity | 2,182,500 | 2,184,653 |
Mortgage-backed securities | 2,249,735 | 2,201,502 |
Fair Value | $ 2,249,735 | $ 2,201,502 |
Investments (Unrealized Losses)
Investments (Unrealized Losses) (Details) - USD ($) | Jun. 30, 2019 | Dec. 31, 2018 |
Schedule of Investments [Line Items] | ||
Unrealized losses related to marketability of securities or issuer's ability to honor redemption obligations | $ 0 | |
Investment securities available for sale: | ||
Fair Value, Less than 12 months | 180,067,000 | 705,526,000 |
Unrealized Losses, Less than 12 months | 535,000 | 3,943,000 |
Fair Value, 12 months or more | 1,665,581,000 | 2,796,627,000 |
Unrealized Losses, Greater than 12 months | 8,509,000 | 52,489,000 |
Fair Value, Total | 1,845,648,000 | 3,502,153,000 |
Unrealized Losses, Total | 9,044,000 | 56,432,000 |
Investment securities held to maturity | ||
Unrealized Losses, Total | 0 | |
U. S. Treasury | ||
Investment securities available for sale: | ||
Fair Value, Less than 12 months | 0 | 248,983,000 |
Unrealized Losses, Less than 12 months | 0 | 113,000 |
Fair Value, 12 months or more | 150,248,000 | 848,622,000 |
Unrealized Losses, Greater than 12 months | 82,000 | 2,053,000 |
Fair Value, Total | 150,248,000 | 1,097,605,000 |
Unrealized Losses, Total | 82,000 | 2,166,000 |
Agency Securities | ||
Investment securities available for sale: | ||
Fair Value, Less than 12 months | 39,456,000 | 115,273,000 |
Unrealized Losses, Less than 12 months | 25,000 | 601,000 |
Fair Value, 12 months or more | 58,879,000 | 2,310,000 |
Unrealized Losses, Greater than 12 months | 164,000 | 38,000 |
Fair Value, Total | 98,335,000 | 117,583,000 |
Unrealized Losses, Total | 189,000 | 639,000 |
Mortgage Backed Securities | ||
Investment securities available for sale: | ||
Fair Value, Less than 12 months | 109,521,000 | 262,204,000 |
Unrealized Losses, Less than 12 months | 288,000 | 2,387,000 |
Fair Value, 12 months or more | 1,448,894,000 | 1,940,695,000 |
Unrealized Losses, Greater than 12 months | 8,130,000 | 50,376,000 |
Fair Value, Total | 1,558,415,000 | 2,202,899,000 |
Unrealized Losses, Total | 8,418,000 | 52,763,000 |
Investment securities held to maturity | ||
Fair Value, Less than 12 months | 5,111,000 | |
Unrealized Losses, Less than 12 months | 181,000 | |
Fair Value, 12 months or more | 10,131,000 | |
Unrealized Losses, 12 months or more | 309,000 | |
Fair Value, Total | 15,242,000 | |
Unrealized Losses, Total | 0 | 490,000 |
Corporate bonds | ||
Investment securities available for sale: | ||
Fair Value, Less than 12 months | 79,066,000 | |
Unrealized Losses, Less than 12 months | 842,000 | |
Fair Value, 12 months or more | 5,000,000 | |
Unrealized Losses, Greater than 12 months | 22,000 | |
Fair Value, Total | 84,066,000 | |
Unrealized Losses, Total | 864,000 | |
Corporate Bonds | ||
Investment securities available for sale: | ||
Fair Value, Less than 12 months | 31,090,000 | |
Unrealized Losses, Less than 12 months | 222,000 | |
Fair Value, 12 months or more | 7,560,000 | |
Unrealized Losses, Greater than 12 months | 133,000 | |
Fair Value, Total | 38,650,000 | |
Unrealized Losses, Total | 355,000 | $ 864,000 |
Other | ||
Investment securities held to maturity | ||
Unrealized Losses, Total | $ 0 |
Investments Marketable Equity S
Investments Marketable Equity Securities Gains (Losses) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Marketable Equity Securities Gains (Losses) [Abstract] | ||||
Marketable equity securities gain (loss), net | $ 3,144 | $ 4,440 | $ 14,472 | $ 5,411 |
Net gains (losses) recognized on marketable equity securities sold | 2,271 | 139 | 2,315 | 235 |
Unrealized gains (losses) recognized on marketable equity securities held | $ 873 | $ 4,301 | $ 12,157 | $ 5,176 |
Investments (Narrative) (Detail
Investments (Narrative) (Details) shares in Thousands | 3 Months Ended | |||
Jun. 30, 2019USD ($)investmentsinvestmentshares | Jun. 30, 2018USD ($) | Jan. 01, 2019USD ($) | Dec. 31, 2018USD ($) | |
Schedule of Investments [Line Items] | ||||
Investment in marketable equity securities | $ 111,489,000 | $ 92,599,000 | ||
Investment securities available for sale | $ 4,366,041,000 | 4,557,110,000 | ||
Cumulative effect of new accounting principle in period of adoption | $ (50,051,000) | |||
Available-for-sale securities, continuous unrealized loss position, 12 months or longer, number of positions | investment | 200 | |||
Unrealized losses related to marketability of securities or issuer's ability to honor redemption obligations | $ 0 | |||
Investment value deemed to be OTTI | 0 | |||
Investment securities, aggregate carrying value, pledged as collateral | 3,750,000,000 | 4,030,000,000 | ||
Mortgage Backed Securities | ||||
Schedule of Investments [Line Items] | ||||
Investment securities available for sale | $ 2,733,698,000 | 2,909,339,000 | ||
Available-for-sale, securities in unrealized loss positions, number of positions, greater than or equal to one year | investments | 197 | |||
U. S. Treasury | ||||
Schedule of Investments [Line Items] | ||||
Investment securities available for sale | $ 948,402,000 | 1,247,710,000 | ||
Corporate Bonds | ||||
Schedule of Investments [Line Items] | ||||
Investment securities available for sale | $ 149,137,000 | $ 143,226,000 | ||
Available-for-sale, securities in unrealized loss positions, number of positions, greater than or equal to one year | investments | 2 | |||
Visa Class B Common Stock | ||||
Schedule of Investments [Line Items] | ||||
Investment owned (in shares) | shares | 298 | |||
Investment owned, fair value | $ 0 | |||
U. S. Treasury | ||||
Schedule of Investments [Line Items] | ||||
Available-for-sale securities, continuous unrealized loss position, 12 months or longer, number of positions | investment | 1 |
Loans and Leases (Narrative) (D
Loans and Leases (Narrative) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | Apr. 02, 2019 | Dec. 31, 2018 | |
Financing Receivable, Recorded Investment [Line Items] | ||||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Purchase Discount Remaining | $ 35,700 | $ 35,700 | $ 33,300 | |||
Federal Home Loan Bank, Advances, General Debt Obligations, Disclosures, Collateral Pledged | 6,450,000 | 6,450,000 | 6,360,000 | |||
Advances from Federal Home Loan Banks | 175,200 | |||||
Federal Home Loan Bank Advances, Current Borrowing Capacity | 6,260,000 | 6,260,000 | 6,180,000 | |||
Unamortized Loan Commitment and Origination Fees and Unamortized Discounts or Premiums | 500 | 500 | 100 | |||
Loans and Leases Receivable, Gross, Carrying Amount, Covered | 50,200 | 50,200 | ||||
Federal Reserve Bank, Advances, General Debt Obligations, Disclosures, Collateral Pledged | 2,090,000 | 2,090,000 | 2,190,000 | |||
Reclassification of portfolio loans to loans held for sale | (23,948) | $ 0 | ||||
Loans held for sale | 52,837 | 52,837 | 45,505 | |||
Proceeds from sales of portfolio loans | 24,247 | 0 | ||||
Accretion | 11,900 | $ 14,200 | 29,648 | 32,188 | ||
Goodwill recorded for First South Bancorp | 296,764 | 296,764 | 236,347 | |||
Non-PCI Loans | ||||||
Financing Receivable, Recorded Investment [Line Items] | ||||||
Nonaccruing | 100,701 | 100,701 | 84,546 | |||
Remaining discount | 93,000 | 93,000 | 95,500 | |||
Accretion Income | 3,300 | $ 4,100 | 6,500 | $ 7,000 | ||
PCI Loans | ||||||
Financing Receivable, Recorded Investment [Line Items] | ||||||
Nonaccruing | 4,300 | 4,300 | 1,300 | |||
Biscayne Bancshares | ||||||
Financing Receivable, Recorded Investment [Line Items] | ||||||
Assets | $ 1,029,184 | |||||
Intangible assets | 4,745 | |||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities | 956,756 | |||||
Deposits | 786,512 | |||||
Goodwill recorded for First South Bancorp | $ 46,521 | |||||
Biscayne Bancshares | Non-PCI Loans | ||||||
Financing Receivable, Recorded Investment [Line Items] | ||||||
Loans acquired | 850,352 | 850,352 | ||||
Biscayne Bancshares | PCI Loans | ||||||
Financing Receivable, Recorded Investment [Line Items] | ||||||
Loans acquired | 13,032 | 13,032 | ||||
Federal Home Loan Bank of Atlanta | ||||||
Financing Receivable, Recorded Investment [Line Items] | ||||||
Advances from Federal Home Loan Banks | 183,700 | 183,700 | ||||
Loans Pledged as Collateral | 9,160,000 | 9,160,000 | 9,120,000 | |||
Federal Home Loan Bank of Chicago | ||||||
Financing Receivable, Recorded Investment [Line Items] | ||||||
Advances from Federal Home Loan Banks | 13,500 | 13,500 | ||||
Federal Reserve Bank | ||||||
Financing Receivable, Recorded Investment [Line Items] | ||||||
Loans Pledged as Collateral | $ 2,730,000 | $ 2,730,000 | $ 2,940,000 |
Loans and Leases (Loans and Lea
Loans and Leases (Loans and Leases Outstanding) (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 | Jun. 30, 2018 | Dec. 31, 2017 |
Loans and leases, not acquired in a transfer accounted for as debt securities | $ 26,176,790 | $ 24,916,700 | ||
PCI loans | 551,447 | 606,576 | $ 674,269 | $ 762,998 |
Total loans and leases | 26,728,237 | 25,523,276 | ||
Commercial | ||||
Loans and leases, not acquired in a transfer accounted for as debt securities | 16,844,828 | 16,137,227 | ||
PCI loans | 275,637 | 296,672 | ||
Commercial | Construction and land development | ||||
Loans and leases, not acquired in a transfer accounted for as debt securities | 719,534 | 757,854 | ||
Commercial | Mortgage | ||||
Loans and leases, not acquired in a transfer accounted for as debt securities | 11,336,684 | 10,717,234 | ||
Commercial | Other commercial real estate | ||||
Loans and leases, not acquired in a transfer accounted for as debt securities | 506,760 | 426,985 | ||
Commercial | Commercial and industrial | ||||
Loans and leases, not acquired in a transfer accounted for as debt securities | 3,980,504 | 3,938,730 | ||
Commercial | Other | ||||
Loans and leases, not acquired in a transfer accounted for as debt securities | 301,346 | 296,424 | ||
Noncommercial | ||||
Loans and leases, not acquired in a transfer accounted for as debt securities | 9,331,962 | 8,779,473 | ||
PCI loans | 275,810 | |||
Noncommercial | Construction and land development | ||||
Loans and leases, not acquired in a transfer accounted for as debt securities | 315,071 | 257,030 | ||
Noncommercial | Mortgage | ||||
Loans and leases, not acquired in a transfer accounted for as debt securities | 4,790,636 | 4,265,687 | ||
PCI loans | 309,904 | |||
Noncommercial | Revolving mortgage | ||||
Loans and leases, not acquired in a transfer accounted for as debt securities | 2,470,653 | 2,542,975 | ||
Noncommercial | Consumer | ||||
Loans and leases, not acquired in a transfer accounted for as debt securities | $ 1,755,602 | $ 1,713,781 |
Loans and Leases (Composition o
Loans and Leases (Composition of the Loans and Leases Outstanding By Credit Quality Indicator) (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 | Jun. 30, 2018 | Dec. 31, 2017 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Non-PCI loans | $ 26,176,790 | $ 24,916,700 | ||
PCI loans | 551,447 | 606,576 | $ 674,269 | $ 762,998 |
Commercial | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Non-PCI loans | 16,844,828 | 16,137,227 | ||
PCI loans | 275,637 | 296,672 | ||
Commercial | Mortgage | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Non-PCI loans | 11,336,684 | 10,717,234 | ||
Commercial | Other commercial real estate | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Non-PCI loans | 506,760 | 426,985 | ||
Commercial | Commercial and industrial | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Non-PCI loans | 3,980,504 | 3,938,730 | ||
Commercial | Other | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Non-PCI loans | 301,346 | 296,424 | ||
Commercial | Construction and land development | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Non-PCI loans | 719,534 | 757,854 | ||
Commercial | Pass | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Non-PCI loans | 16,438,380 | 15,757,669 | ||
PCI loans | 138,300 | 141,922 | ||
Commercial | Pass | Mortgage | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Non-PCI loans | 11,093,853 | 10,507,687 | ||
Commercial | Pass | Other commercial real estate | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Non-PCI loans | 502,168 | 422,500 | ||
Commercial | Pass | Commercial and industrial | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Non-PCI loans | 3,825,956 | 3,778,797 | ||
Commercial | Pass | Other | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Non-PCI loans | 300,335 | 294,700 | ||
Commercial | Pass | Construction and land development | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Non-PCI loans | 716,068 | 753,985 | ||
Commercial | Special Mention | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Non-PCI loans | 163,742 | 174,700 | ||
PCI loans | 44,324 | 48,475 | ||
Commercial | Special Mention | Mortgage | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Non-PCI loans | 111,721 | 114,219 | ||
Commercial | Special Mention | Other commercial real estate | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Non-PCI loans | 3,575 | 3,193 | ||
Commercial | Special Mention | Commercial and industrial | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Non-PCI loans | 46,960 | 54,814 | ||
Commercial | Special Mention | Other | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Non-PCI loans | 470 | 1,105 | ||
Commercial | Special Mention | Construction and land development | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Non-PCI loans | 1,016 | 1,369 | ||
Commercial | Substandard | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Non-PCI loans | 173,198 | 127,842 | ||
PCI loans | 90,019 | 101,447 | ||
Commercial | Substandard | Mortgage | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Non-PCI loans | 131,110 | 92,743 | ||
Commercial | Substandard | Other commercial real estate | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Non-PCI loans | 1,017 | 1,292 | ||
Commercial | Substandard | Commercial and industrial | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Non-PCI loans | 38,080 | 30,688 | ||
Commercial | Substandard | Other | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Non-PCI loans | 541 | 619 | ||
Commercial | Substandard | Construction and land development | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Non-PCI loans | 2,450 | 2,500 | ||
Commercial | Doubtful | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Non-PCI loans | 96 | 354 | ||
PCI loans | 2,994 | 4,828 | ||
Commercial | Doubtful | Mortgage | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Non-PCI loans | 0 | 0 | ||
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 | 96 | 354 | ||
Commercial | Doubtful | Other | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Non-PCI loans | 0 | 0 | ||
Commercial | Doubtful | Construction and land development | ||||
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 | 69,412 | 76,662 | ||
Commercial | Ungraded | Mortgage | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Non-PCI loans | 0 | 2,585 | ||
Commercial | Ungraded | Other commercial real estate | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Non-PCI loans | 0 | 0 | ||
Commercial | Ungraded | Commercial and industrial | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Non-PCI loans | 69,412 | 74,077 | ||
Commercial | Ungraded | Other | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Non-PCI loans | 0 | 0 | ||
Commercial | Ungraded | Construction and land development | ||||
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 | 9,331,962 | 8,779,473 | ||
PCI loans | 275,810 | |||
Noncommercial | Mortgage | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Non-PCI loans | 4,790,636 | 4,265,687 | ||
PCI loans | 309,904 | |||
Noncommercial | Construction and land development | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Non-PCI loans | 315,071 | 257,030 | ||
Noncommercial | Revolving mortgage | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Non-PCI loans | 2,470,653 | 2,542,975 | ||
Noncommercial | Consumer | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Non-PCI loans | 1,755,602 | 1,713,781 | ||
Non-PCI Loans | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Non-PCI loans | 26,176,790 | 24,916,700 | ||
Past due loans | 154,074 | 134,882 | ||
Current loans | 26,022,716 | 24,781,818 | ||
Non-PCI Loans | Commercial | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Non-PCI loans | 16,844,828 | 16,137,227 | ||
Past due loans | 56,153 | 35,619 | ||
Current loans | 16,788,675 | 16,101,608 | ||
Non-PCI Loans | Commercial | Mortgage | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Non-PCI loans | 11,336,684 | 10,717,234 | ||
Past due loans | 30,311 | 19,503 | ||
Current loans | 11,306,373 | 10,697,731 | ||
Non-PCI Loans | Commercial | Other commercial real estate | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Non-PCI loans | 506,760 | 426,985 | ||
Past due loans | 698 | 467 | ||
Current loans | 506,062 | 426,518 | ||
Non-PCI Loans | Commercial | Commercial and industrial | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Non-PCI loans | 3,980,504 | 3,938,730 | ||
Past due loans | 20,283 | 14,306 | ||
Current loans | 3,960,221 | 3,924,424 | ||
Non-PCI Loans | Commercial | Other | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Non-PCI loans | 301,346 | 296,424 | ||
Past due loans | 73 | 374 | ||
Current loans | 301,273 | 296,050 | ||
Non-PCI Loans | Commercial | Construction and land development | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Non-PCI loans | 719,534 | 757,854 | ||
Past due loans | 4,788 | 969 | ||
Current loans | 714,746 | 756,885 | ||
Non-PCI Loans | Noncommercial | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Non-PCI loans | 9,331,962 | 8,779,473 | ||
Past due loans | 97,921 | 99,263 | ||
Current loans | 9,234,041 | 8,680,210 | ||
Non-PCI Loans | Noncommercial | Mortgage | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Non-PCI loans | 4,790,636 | 4,265,687 | ||
Past due loans | 54,573 | 50,904 | ||
Current loans | 4,736,063 | 4,214,783 | ||
Non-PCI Loans | Noncommercial | Construction and land development | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Non-PCI loans | 315,071 | 257,030 | ||
Past due loans | 2,086 | 2,193 | ||
Current loans | 312,985 | 254,837 | ||
Non-PCI Loans | Noncommercial | Revolving mortgage | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Non-PCI loans | 2,470,653 | 2,542,975 | ||
Past due loans | 26,606 | 28,706 | ||
Current loans | 2,444,047 | 2,514,269 | ||
Non-PCI Loans | Noncommercial | Consumer | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Non-PCI loans | 1,755,602 | 1,713,781 | ||
Past due loans | 14,656 | 17,460 | ||
Current loans | 1,740,946 | 1,696,321 | ||
PCI Loans | Noncommercial | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Current loans | 244,196 | |||
PCI Loans | Noncommercial | Mortgage | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Current loans | 268,280 | |||
30 to 59 Days past due | Non-PCI Loans | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Past due loans | 77,982 | 76,187 | ||
30 to 59 Days past due | Non-PCI Loans | Commercial | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Past due loans | 28,788 | 24,747 | ||
30 to 59 Days past due | Non-PCI Loans | Commercial | Mortgage | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Past due loans | 14,025 | 14,200 | ||
30 to 59 Days past due | Non-PCI Loans | Commercial | Other commercial real estate | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Past due loans | 0 | 91 | ||
30 to 59 Days past due | Non-PCI Loans | Commercial | Commercial and industrial | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Past due loans | 13,227 | 9,655 | ||
30 to 59 Days past due | Non-PCI Loans | Commercial | Other | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Past due loans | 68 | 285 | ||
30 to 59 Days past due | Non-PCI Loans | Commercial | Construction and land development | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Past due loans | 1,468 | 516 | ||
30 to 59 Days past due | Non-PCI Loans | Noncommercial | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Past due loans | 49,194 | 51,440 | ||
30 to 59 Days past due | Non-PCI Loans | Noncommercial | Mortgage | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Past due loans | 26,250 | 28,239 | ||
30 to 59 Days past due | Non-PCI Loans | Noncommercial | Construction and land development | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Past due loans | 255 | 581 | ||
30 to 59 Days past due | Non-PCI Loans | Noncommercial | Revolving mortgage | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Past due loans | 14,044 | 12,585 | ||
30 to 59 Days past due | Non-PCI Loans | Noncommercial | Consumer | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Past due loans | 8,645 | 10,035 | ||
30 to 59 Days past due | PCI Loans | Noncommercial | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Past due loans | 8,691 | |||
30 to 59 Days past due | PCI Loans | Noncommercial | Mortgage | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Past due loans | 11,155 | |||
60 to 89 Days past due | Non-PCI Loans | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Past due loans | 34,358 | 19,682 | ||
60 to 89 Days past due | Non-PCI Loans | Commercial | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Past due loans | 14,729 | 3,910 | ||
60 to 89 Days past due | Non-PCI Loans | Commercial | Mortgage | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Past due loans | 9,073 | 2,066 | ||
60 to 89 Days past due | Non-PCI Loans | Commercial | Other commercial real estate | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Past due loans | 698 | 76 | ||
60 to 89 Days past due | Non-PCI Loans | Commercial | Commercial and industrial | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Past due loans | 3,196 | 1,759 | ||
60 to 89 Days past due | Non-PCI Loans | Commercial | Other | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Past due loans | 5 | 0 | ||
60 to 89 Days past due | Non-PCI Loans | Commercial | Construction and land development | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Past due loans | 1,757 | 9 | ||
60 to 89 Days past due | Non-PCI Loans | Noncommercial | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Past due loans | 19,629 | 15,772 | ||
60 to 89 Days past due | Non-PCI Loans | Noncommercial | Mortgage | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Past due loans | 13,109 | 7,357 | ||
60 to 89 Days past due | Non-PCI Loans | Noncommercial | Construction and land development | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Past due loans | 214 | 21 | ||
60 to 89 Days past due | Non-PCI Loans | Noncommercial | Revolving mortgage | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Past due loans | 3,207 | 4,490 | ||
60 to 89 Days past due | Non-PCI Loans | Noncommercial | Consumer | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Past due loans | 3,099 | 3,904 | ||
60 to 89 Days past due | PCI Loans | Noncommercial | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Past due loans | 4,763 | |||
60 to 89 Days past due | PCI Loans | Noncommercial | Mortgage | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Past due loans | 7,708 | |||
90 Days or greater | Non-PCI Loans | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Past due loans | 41,734 | 39,013 | ||
90 Days or greater | Non-PCI Loans | Commercial | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Past due loans | 12,636 | 6,962 | ||
90 Days or greater | Non-PCI Loans | Commercial | Mortgage | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Past due loans | 7,213 | 3,237 | ||
90 Days or greater | Non-PCI Loans | Commercial | Other commercial real estate | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Past due loans | 0 | 300 | ||
90 Days or greater | Non-PCI Loans | Commercial | Commercial and industrial | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Past due loans | 3,860 | 2,892 | ||
90 Days or greater | Non-PCI Loans | Commercial | Other | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Past due loans | 0 | 89 | ||
90 Days or greater | Non-PCI Loans | Commercial | Construction and land development | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Past due loans | 1,563 | 444 | ||
90 Days or greater | Non-PCI Loans | Noncommercial | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Past due loans | 29,098 | 32,051 | ||
90 Days or greater | Non-PCI Loans | Noncommercial | Mortgage | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Past due loans | 15,214 | 15,308 | ||
90 Days or greater | Non-PCI Loans | Noncommercial | Construction and land development | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Past due loans | 1,617 | 1,591 | ||
90 Days or greater | Non-PCI Loans | Noncommercial | Revolving mortgage | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Past due loans | 9,355 | 11,631 | ||
90 Days or greater | Non-PCI Loans | Noncommercial | Consumer | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Past due loans | 2,912 | 3,521 | ||
90 Days or greater | PCI Loans | Noncommercial | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Past due loans | $ 18,160 | |||
90 Days or greater | PCI Loans | Noncommercial | Mortgage | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Past due loans | $ 22,761 |
Loans and Leases (Aging Of The
Loans and Leases (Aging Of The Outstanding Loans and Leases By Class) (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 | Jun. 30, 2018 | Dec. 31, 2017 |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
PCI loans | $ 551,447 | $ 606,576 | $ 674,269 | $ 762,998 |
Non-PCI loans | 26,176,790 | 24,916,700 | ||
Commercial | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
PCI loans | 275,637 | 296,672 | ||
Non-PCI loans | 16,844,828 | 16,137,227 | ||
Commercial | Construction and land development | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Non-PCI loans | 719,534 | 757,854 | ||
Commercial | Mortgage | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Non-PCI loans | 11,336,684 | 10,717,234 | ||
Commercial | Other commercial real estate | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Non-PCI loans | 506,760 | 426,985 | ||
Commercial | Commercial and industrial | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Non-PCI loans | 3,980,504 | 3,938,730 | ||
Commercial | Other | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Non-PCI loans | 301,346 | 296,424 | ||
Noncommercial | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
PCI loans | 275,810 | |||
Non-PCI loans | 9,331,962 | 8,779,473 | ||
Noncommercial | Construction and land development | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Non-PCI loans | 315,071 | 257,030 | ||
Noncommercial | Mortgage | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
PCI loans | 309,904 | |||
Non-PCI loans | 4,790,636 | 4,265,687 | ||
Noncommercial | Revolving mortgage | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Non-PCI loans | 2,470,653 | 2,542,975 | ||
Noncommercial | Consumer | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Non-PCI loans | 1,755,602 | 1,713,781 | ||
PCI Loans | Noncommercial | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Current loans | 244,196 | |||
PCI Loans | Noncommercial | Mortgage | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Current loans | 268,280 | |||
Non-PCI Loans | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Past due loans | 154,074 | 134,882 | ||
Current loans | 26,022,716 | 24,781,818 | ||
Non-PCI loans | 26,176,790 | 24,916,700 | ||
Non-PCI Loans | Commercial | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Past due loans | 56,153 | 35,619 | ||
Current loans | 16,788,675 | 16,101,608 | ||
Non-PCI loans | 16,844,828 | 16,137,227 | ||
Non-PCI Loans | Commercial | Construction and land development | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Past due loans | 4,788 | 969 | ||
Current loans | 714,746 | 756,885 | ||
Non-PCI loans | 719,534 | 757,854 | ||
Non-PCI Loans | Commercial | Mortgage | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Past due loans | 30,311 | 19,503 | ||
Current loans | 11,306,373 | 10,697,731 | ||
Non-PCI loans | 11,336,684 | 10,717,234 | ||
Non-PCI Loans | Commercial | Other commercial real estate | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Past due loans | 698 | 467 | ||
Current loans | 506,062 | 426,518 | ||
Non-PCI loans | 506,760 | 426,985 | ||
Non-PCI Loans | Commercial | Commercial and industrial | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Past due loans | 20,283 | 14,306 | ||
Current loans | 3,960,221 | 3,924,424 | ||
Non-PCI loans | 3,980,504 | 3,938,730 | ||
Non-PCI Loans | Commercial | Other | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Past due loans | 73 | 374 | ||
Current loans | 301,273 | 296,050 | ||
Non-PCI loans | 301,346 | 296,424 | ||
Non-PCI Loans | Noncommercial | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Past due loans | 97,921 | 99,263 | ||
Current loans | 9,234,041 | 8,680,210 | ||
Non-PCI loans | 9,331,962 | 8,779,473 | ||
Non-PCI Loans | Noncommercial | Construction and land development | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Past due loans | 2,086 | 2,193 | ||
Current loans | 312,985 | 254,837 | ||
Non-PCI loans | 315,071 | 257,030 | ||
Non-PCI Loans | Noncommercial | Mortgage | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Past due loans | 54,573 | 50,904 | ||
Current loans | 4,736,063 | 4,214,783 | ||
Non-PCI loans | 4,790,636 | 4,265,687 | ||
Non-PCI Loans | Noncommercial | Revolving mortgage | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Past due loans | 26,606 | 28,706 | ||
Current loans | 2,444,047 | 2,514,269 | ||
Non-PCI loans | 2,470,653 | 2,542,975 | ||
Non-PCI Loans | Noncommercial | Consumer | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Past due loans | 14,656 | 17,460 | ||
Current loans | 1,740,946 | 1,696,321 | ||
Non-PCI loans | 1,755,602 | 1,713,781 | ||
30 to 59 Days past due | PCI Loans | Noncommercial | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Past due loans | 8,691 | |||
30 to 59 Days past due | PCI Loans | Noncommercial | Mortgage | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Past due loans | 11,155 | |||
30 to 59 Days past due | Non-PCI Loans | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Past due loans | 77,982 | 76,187 | ||
30 to 59 Days past due | Non-PCI Loans | Commercial | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Past due loans | 28,788 | 24,747 | ||
30 to 59 Days past due | Non-PCI Loans | Commercial | Construction and land development | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Past due loans | 1,468 | 516 | ||
30 to 59 Days past due | Non-PCI Loans | Commercial | Mortgage | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Past due loans | 14,025 | 14,200 | ||
30 to 59 Days past due | Non-PCI Loans | Commercial | Other commercial real estate | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Past due loans | 0 | 91 | ||
30 to 59 Days past due | Non-PCI Loans | Commercial | Commercial and industrial | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Past due loans | 13,227 | 9,655 | ||
30 to 59 Days past due | Non-PCI Loans | Commercial | Other | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Past due loans | 68 | 285 | ||
30 to 59 Days past due | Non-PCI Loans | Noncommercial | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Past due loans | 49,194 | 51,440 | ||
30 to 59 Days past due | Non-PCI Loans | Noncommercial | Construction and land development | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Past due loans | 255 | 581 | ||
30 to 59 Days past due | Non-PCI Loans | Noncommercial | Mortgage | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Past due loans | 26,250 | 28,239 | ||
30 to 59 Days past due | Non-PCI Loans | Noncommercial | Revolving mortgage | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Past due loans | 14,044 | 12,585 | ||
30 to 59 Days past due | Non-PCI Loans | Noncommercial | Consumer | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Past due loans | 8,645 | 10,035 | ||
60 to 89 Days past due | PCI Loans | Noncommercial | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Past due loans | 4,763 | |||
60 to 89 Days past due | PCI Loans | Noncommercial | Mortgage | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Past due loans | 7,708 | |||
60 to 89 Days past due | Non-PCI Loans | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Past due loans | 34,358 | 19,682 | ||
60 to 89 Days past due | Non-PCI Loans | Commercial | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Past due loans | 14,729 | 3,910 | ||
60 to 89 Days past due | Non-PCI Loans | Commercial | Construction and land development | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Past due loans | 1,757 | 9 | ||
60 to 89 Days past due | Non-PCI Loans | Commercial | Mortgage | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Past due loans | 9,073 | 2,066 | ||
60 to 89 Days past due | Non-PCI Loans | Commercial | Other commercial real estate | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Past due loans | 698 | 76 | ||
60 to 89 Days past due | Non-PCI Loans | Commercial | Commercial and industrial | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Past due loans | 3,196 | 1,759 | ||
60 to 89 Days past due | Non-PCI Loans | Commercial | Other | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Past due loans | 5 | 0 | ||
60 to 89 Days past due | Non-PCI Loans | Noncommercial | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Past due loans | 19,629 | 15,772 | ||
60 to 89 Days past due | Non-PCI Loans | Noncommercial | Construction and land development | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Past due loans | 214 | 21 | ||
60 to 89 Days past due | Non-PCI Loans | Noncommercial | Mortgage | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Past due loans | 13,109 | 7,357 | ||
60 to 89 Days past due | Non-PCI Loans | Noncommercial | Revolving mortgage | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Past due loans | 3,207 | 4,490 | ||
60 to 89 Days past due | Non-PCI Loans | Noncommercial | Consumer | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Past due loans | 3,099 | 3,904 | ||
90 Days or greater | PCI Loans | Noncommercial | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Past due loans | 18,160 | |||
90 Days or greater | PCI Loans | Noncommercial | Mortgage | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Past due loans | 22,761 | |||
90 Days or greater | Non-PCI Loans | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Past due loans | 41,734 | 39,013 | ||
90 Days or greater | Non-PCI Loans | Commercial | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Past due loans | 12,636 | 6,962 | ||
90 Days or greater | Non-PCI Loans | Commercial | Construction and land development | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Past due loans | 1,563 | 444 | ||
90 Days or greater | Non-PCI Loans | Commercial | Mortgage | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Past due loans | 7,213 | 3,237 | ||
90 Days or greater | Non-PCI Loans | Commercial | Other commercial real estate | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Past due loans | 0 | 300 | ||
90 Days or greater | Non-PCI Loans | Commercial | Commercial and industrial | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Past due loans | 3,860 | 2,892 | ||
90 Days or greater | Non-PCI Loans | Commercial | Other | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Past due loans | 0 | 89 | ||
90 Days or greater | Non-PCI Loans | Noncommercial | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Past due loans | 29,098 | 32,051 | ||
90 Days or greater | Non-PCI Loans | Noncommercial | Construction and land development | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Past due loans | 1,617 | 1,591 | ||
90 Days or greater | Non-PCI Loans | Noncommercial | Mortgage | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Past due loans | 15,214 | 15,308 | ||
90 Days or greater | Non-PCI Loans | Noncommercial | Revolving mortgage | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Past due loans | 9,355 | 11,631 | ||
90 Days or greater | Non-PCI Loans | Noncommercial | Consumer | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Past due loans | $ 2,912 | $ 3,521 |
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 | Jun. 30, 2019 | Dec. 31, 2018 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Nonaccruing | $ 100,701 | $ 84,546 |
Loans and leases greater than 90 days and accruing | 3,468 | 2,888 |
Commercial | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Nonaccruing | 28,846 | 18,529 |
Loans and leases greater than 90 days and accruing | 1,143 | 808 |
Commercial | Construction and land development | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Nonaccruing | 1,634 | 666 |
Loans and leases greater than 90 days and accruing | 0 | 0 |
Commercial | Mortgage | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Nonaccruing | 20,859 | 12,594 |
Loans and leases greater than 90 days and accruing | 440 | 0 |
Commercial | Other commercial real estate | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Nonaccruing | 179 | 366 |
Loans and leases greater than 90 days and accruing | 0 | 0 |
Commercial | Commercial and industrial | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Nonaccruing | 5,944 | 4,624 |
Loans and leases greater than 90 days and accruing | 703 | 808 |
Commercial | Other | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Nonaccruing | 230 | 279 |
Loans and leases greater than 90 days and accruing | 0 | 0 |
Noncommercial | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Nonaccruing | 71,855 | 66,017 |
Loans and leases greater than 90 days and accruing | 2,325 | 2,080 |
Noncommercial | Construction and land development | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Nonaccruing | 1,786 | 1,823 |
Loans and leases greater than 90 days and accruing | 0 | 0 |
Noncommercial | Mortgage | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Nonaccruing | 43,467 | 35,662 |
Loans and leases greater than 90 days and accruing | 297 | 0 |
Noncommercial | Revolving mortgage | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Nonaccruing | 24,145 | 25,563 |
Loans and leases greater than 90 days and accruing | 34 | 0 |
Noncommercial | Consumer | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Nonaccruing | 2,457 | 2,969 |
Loans and leases greater than 90 days and accruing | $ 1,994 | $ 2,080 |
Loans and Leases (Purchases Loa
Loans and Leases (Purchases Loans and Leases) (Details) $ in Thousands | Jun. 30, 2019USD ($) |
Non-PCI Loans | Biscayne Bancshares | |
Business Acquisition [Line Items] | |
Contractually required payments | $ 1,078,854 |
Loans acquired | 850,352 |
Non-PCI Loans | First South Bancorp | |
Business Acquisition [Line Items] | |
Contractually required payments | 175,465 |
Loans acquired | 162,845 |
PCI Loans | Biscayne Bancshares | |
Business Acquisition [Line Items] | |
Contractually required payments | 19,720 |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Contractual Cash Flows Expected To Be Collected | 16,815 |
Loans acquired | 13,032 |
PCI Loans | First South Bancorp | |
Business Acquisition [Line Items] | |
Contractually required payments | 23,389 |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Contractual Cash Flows Expected To Be Collected | 21,392 |
Loans acquired | 16,398 |
Commercial | Non-PCI Loans | Biscayne Bancshares | |
Business Acquisition [Line Items] | |
Loans acquired | 345,494 |
Commercial | Non-PCI Loans | First South Bancorp | |
Business Acquisition [Line Items] | |
Loans acquired | 131,093 |
Commercial | PCI Loans | Biscayne Bancshares | |
Business Acquisition [Line Items] | |
Loans acquired | 9,249 |
Commercial | PCI Loans | First South Bancorp | |
Business Acquisition [Line Items] | |
Loans acquired | 11,790 |
Noncommercial | Non-PCI Loans | Biscayne Bancshares | |
Business Acquisition [Line Items] | |
Loans acquired | 504,858 |
Noncommercial | Non-PCI Loans | First South Bancorp | |
Business Acquisition [Line Items] | |
Loans acquired | 31,752 |
Noncommercial | PCI Loans | Biscayne Bancshares | |
Business Acquisition [Line Items] | |
Loans acquired | 3,783 |
Noncommercial | PCI Loans | First South Bancorp | |
Business Acquisition [Line Items] | |
Loans acquired | 4,608 |
Construction and land development | Commercial | Non-PCI Loans | Biscayne Bancshares | |
Business Acquisition [Line Items] | |
Loans acquired | 15,647 |
Construction and land development | Commercial | Non-PCI Loans | First South Bancorp | |
Business Acquisition [Line Items] | |
Loans acquired | 8,663 |
Construction and land development | Commercial | PCI Loans | Biscayne Bancshares | |
Business Acquisition [Line Items] | |
Loans acquired | 0 |
Construction and land development | Commercial | PCI Loans | First South Bancorp | |
Business Acquisition [Line Items] | |
Loans acquired | 1,233 |
Construction and land development | Noncommercial | Non-PCI Loans | Biscayne Bancshares | |
Business Acquisition [Line Items] | |
Loans acquired | 31,668 |
Construction and land development | Noncommercial | Non-PCI Loans | First South Bancorp | |
Business Acquisition [Line Items] | |
Loans acquired | 3,552 |
Construction and land development | Noncommercial | PCI Loans | Biscayne Bancshares | |
Business Acquisition [Line Items] | |
Loans acquired | 0 |
Construction and land development | Noncommercial | PCI Loans | First South Bancorp | |
Business Acquisition [Line Items] | |
Loans acquired | 17 |
Mortgage | Commercial | Non-PCI Loans | Biscayne Bancshares | |
Business Acquisition [Line Items] | |
Loans acquired | 203,605 |
Mortgage | Commercial | Non-PCI Loans | First South Bancorp | |
Business Acquisition [Line Items] | |
Loans acquired | 74,713 |
Mortgage | Commercial | PCI Loans | Biscayne Bancshares | |
Business Acquisition [Line Items] | |
Loans acquired | 7,589 |
Mortgage | Commercial | PCI Loans | First South Bancorp | |
Business Acquisition [Line Items] | |
Loans acquired | 9,355 |
Mortgage | Noncommercial | Non-PCI Loans | Biscayne Bancshares | |
Business Acquisition [Line Items] | |
Loans acquired | 405,419 |
Mortgage | Noncommercial | Non-PCI Loans | First South Bancorp | |
Business Acquisition [Line Items] | |
Loans acquired | 24,641 |
Mortgage | Noncommercial | PCI Loans | Biscayne Bancshares | |
Business Acquisition [Line Items] | |
Loans acquired | 3,783 |
Mortgage | Noncommercial | PCI Loans | First South Bancorp | |
Business Acquisition [Line Items] | |
Loans acquired | 4,591 |
Other commercial real estate | Commercial | Non-PCI Loans | Biscayne Bancshares | |
Business Acquisition [Line Items] | |
Loans acquired | 98,107 |
Other commercial real estate | Commercial | Non-PCI Loans | First South Bancorp | |
Business Acquisition [Line Items] | |
Loans acquired | 7,509 |
Commercial and industrial | Commercial | Non-PCI Loans | Biscayne Bancshares | |
Business Acquisition [Line Items] | |
Loans acquired | 28,135 |
Commercial and industrial | Commercial | Non-PCI Loans | First South Bancorp | |
Business Acquisition [Line Items] | |
Loans acquired | 40,208 |
Commercial and industrial | Commercial | PCI Loans | Biscayne Bancshares | |
Business Acquisition [Line Items] | |
Loans acquired | 1,660 |
Commercial and industrial | Commercial | PCI Loans | First South Bancorp | |
Business Acquisition [Line Items] | |
Loans acquired | 1,202 |
Revolving mortgage | Noncommercial | Non-PCI Loans | Biscayne Bancshares | |
Business Acquisition [Line Items] | |
Loans acquired | 54,081 |
Revolving mortgage | Noncommercial | Non-PCI Loans | First South Bancorp | |
Business Acquisition [Line Items] | |
Loans acquired | 2,162 |
Consumer | Noncommercial | Non-PCI Loans | Biscayne Bancshares | |
Business Acquisition [Line Items] | |
Loans acquired | 13,690 |
Consumer | Noncommercial | Non-PCI Loans | First South Bancorp | |
Business Acquisition [Line Items] | |
Loans acquired | $ 1,397 |
Loans and Leases (Changes In Ca
Loans and Leases (Changes In Carrying Value Of Acquired Impaired Loans) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | Dec. 31, 2018 | Jan. 13, 2017 | Mar. 11, 2016 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Impaired Financing Receivable, Unpaid Principal Balance | $ 805,754 | $ 1,044,148 | $ 805,754 | $ 1,044,148 | |||
Carrying Value of Acquired Impaired Loans [Roll Forward] | |||||||
Beginning balance | 606,576 | 762,998 | |||||
Fair value of acquired loans | $ 29,430 | $ 15,555 | |||||
Accretion | 11,900 | 14,200 | 29,648 | 32,188 | |||
Payments received and other changes, net | (114,207) | (136,472) | |||||
Ending balance | 551,447 | $ 674,269 | 551,447 | $ 674,269 | |||
Loans on the Cost Recovery Method | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Loans on cost recovery method | 3,300 | 3,300 | $ 3,348 | ||||
Commercial | |||||||
Carrying Value of Acquired Impaired Loans [Roll Forward] | |||||||
Beginning balance | 296,672 | ||||||
Ending balance | 275,637 | 275,637 | |||||
Noncommercial | |||||||
Carrying Value of Acquired Impaired Loans [Roll Forward] | |||||||
Ending balance | 275,810 | 275,810 | |||||
Mortgage | Noncommercial | |||||||
Carrying Value of Acquired Impaired Loans [Roll Forward] | |||||||
Beginning balance | 309,904 | ||||||
PCI Loans | |||||||
Carrying Value of Acquired Impaired Loans [Roll Forward] | |||||||
Nonaccruing | $ 4,300 | $ 4,300 | $ 1,300 |
Loans and Leases (Changes In _2
Loans and Leases (Changes In Carrying Amount Of Accretable Yield) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | Dec. 31, 2018 | Dec. 31, 2017 | |
Business Acquisition [Line Items] | ||||||
Accretable yield | $ 280,036 | $ 344,520 | $ 280,036 | $ 344,520 | $ 312,894 | $ 316,679 |
Accretion | $ (11,900) | $ (14,200) | (29,648) | (32,188) | ||
Reclassifications from nonaccretable difference | 3,695 | 6,899 | ||||
Changes in expected cash flows that do not affect nonaccretable difference | (15,682) | 48,988 | ||||
2019 Acquisitions | ||||||
Business Acquisition [Line Items] | ||||||
Additions from acquisitions | $ 8,777 | 0 | ||||
HomeBancorp Inc. | ||||||
Business Acquisition [Line Items] | ||||||
Additions from acquisitions | $ 4,142 |
Loans and Leases Loans and Leas
Loans and Leases Loans and Leases (Schedule of Contractually Required Payments Including Principal and Interest, Expected Cash Flows to be Collected and Fair Values) (Details) - USD ($) $ in Thousands | Jan. 13, 2017 | Mar. 11, 2016 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
PCI loans and leases | $ 29,430 | $ 15,555 |
Loans and Leases Loans and Le_2
Loans and Leases Loans and Leases (Recorded Fair Values of Purchased Non-Impaired Loans and Leases) (Details) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2019 | Jun. 30, 2018 | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | ||
Reclassification of portfolio loans to loans held for sale | $ (23,948) | $ 0 |
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 | 3 Months Ended | 6 Months Ended | ||||||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Dec. 31, 2018 | Jun. 30, 2018 | Dec. 31, 2017 | |
Allowance for Loans and Leases Evaluated for Impairment [Abstract] | ||||||||
Net loans and leases | $ 26,501,654 | $ 25,299,564 | ||||||
Loan and Leases Acquired with Deteriorated Credit Quality [Abstract] | ||||||||
Loans and leases acquired with deteriorated credit quality | 551,447 | 606,576 | $ 674,269 | $ 762,998 | ||||
Commercial | ||||||||
Loan and Leases Acquired with Deteriorated Credit Quality [Abstract] | ||||||||
Loans and leases acquired with deteriorated credit quality | 275,637 | 296,672 | ||||||
Noncommercial | ||||||||
Loan and Leases Acquired with Deteriorated Credit Quality [Abstract] | ||||||||
Loans and leases acquired with deteriorated credit quality | 275,810 | |||||||
Noncommercial | Mortgage | ||||||||
Loan and Leases Acquired with Deteriorated Credit Quality [Abstract] | ||||||||
Loans and leases acquired with deteriorated credit quality | 309,904 | |||||||
Non-PCI Loans | ||||||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||||||
Beginning balance | $ 219,795 | $ 210,820 | $ 214,568 | $ 211,867 | ||||
Provision for Loan, Lease, and Other Losses | 5,835 | 8,277 | 17,749 | 13,528 | ||||
Charge-offs | (10,602) | (9,678) | (20,756) | (19,291) | ||||
Recoveries | 3,212 | 3,023 | 6,679 | 6,338 | ||||
Ending balance | 218,240 | 212,442 | 218,240 | 212,442 | ||||
Allowance for Loans and Leases Evaluated for Impairment [Abstract] | ||||||||
Loans and leases individually evaluated for impairment | 166,673 | 146,430 | ||||||
Loans and leases collectively evaluated for impairment | 26,010,117 | 24,770,270 | ||||||
Net loans and leases | 26,176,790 | 24,916,700 | ||||||
ALLL for loans and leases individually evaluated for impairment | 11,098 | 9,827 | ||||||
ALLL for loans and leases collectively evaluated for impairment | 207,142 | 204,741 | ||||||
Total allowance for loan and lease losses | 219,795 | 210,820 | 218,240 | 211,867 | 218,240 | 214,568 | 212,442 | 211,867 |
Non-PCI Loans | Commercial | ||||||||
Allowance for Loans and Leases Evaluated for Impairment [Abstract] | ||||||||
Loans and leases individually evaluated for impairment | 77,330 | |||||||
ALLL for loans and leases individually evaluated for impairment | 4,775 | |||||||
Non-PCI Loans | Commercial | Construction and land development | ||||||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||||||
Beginning balance | 37,476 | 26,718 | 35,270 | 24,470 | ||||
Provision for Loan, Lease, and Other Losses | (5,544) | (3,139) | (3,425) | (914) | ||||
Charge-offs | (28) | (8) | (72) | (8) | ||||
Recoveries | 40 | 93 | 171 | 116 | ||||
Ending balance | 31,944 | 23,664 | 31,944 | 23,664 | ||||
Allowance for Loans and Leases Evaluated for Impairment [Abstract] | ||||||||
Loans and leases individually evaluated for impairment | 2,078 | 2,175 | ||||||
Loans and leases collectively evaluated for impairment | 717,456 | 755,679 | ||||||
Net loans and leases | 719,534 | 757,854 | ||||||
ALLL for loans and leases individually evaluated for impairment | 196 | 490 | ||||||
ALLL for loans and leases collectively evaluated for impairment | 31,748 | 34,780 | ||||||
Total allowance for loan and lease losses | 37,476 | 26,718 | 35,270 | 24,470 | 31,944 | 35,270 | 23,664 | 24,470 |
Non-PCI Loans | Commercial | Mortgage | ||||||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||||||
Beginning balance | 45,281 | 43,833 | 43,451 | 45,005 | ||||
Provision for Loan, Lease, and Other Losses | 3,714 | 866 | 6,085 | (499) | ||||
Charge-offs | (89) | (459) | (850) | (505) | ||||
Recoveries | 56 | 225 | 276 | 464 | ||||
Ending balance | 48,962 | 44,465 | 48,962 | 44,465 | ||||
Allowance for Loans and Leases Evaluated for Impairment [Abstract] | ||||||||
Loans and leases individually evaluated for impairment | 62,270 | 55,447 | ||||||
Loans and leases collectively evaluated for impairment | 11,274,414 | 10,661,787 | ||||||
Net loans and leases | 11,336,684 | 10,717,234 | ||||||
ALLL for loans and leases individually evaluated for impairment | 3,042 | 2,671 | ||||||
ALLL for loans and leases collectively evaluated for impairment | 45,920 | 40,780 | ||||||
Total allowance for loan and lease losses | 45,281 | 43,833 | 48,962 | 45,005 | 48,962 | 43,451 | 44,465 | 45,005 |
Non-PCI Loans | Commercial | Other commercial real estate | ||||||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||||||
Beginning balance | 2,399 | 3,423 | 2,481 | 4,571 | ||||
Provision for Loan, Lease, and Other Losses | (57) | 468 | (140) | (825) | ||||
Charge-offs | 0 | (69) | 0 | (69) | ||||
Recoveries | 0 | 1 | 1 | 146 | ||||
Ending balance | 2,342 | 3,823 | 2,342 | 3,823 | ||||
Allowance for Loans and Leases Evaluated for Impairment [Abstract] | ||||||||
Loans and leases individually evaluated for impairment | 506 | 860 | ||||||
Loans and leases collectively evaluated for impairment | 506,254 | 426,125 | ||||||
Net loans and leases | 506,760 | 426,985 | ||||||
ALLL for loans and leases individually evaluated for impairment | 11 | 42 | ||||||
ALLL for loans and leases collectively evaluated for impairment | 2,331 | 2,439 | ||||||
Total allowance for loan and lease losses | 2,399 | 3,423 | 2,481 | 4,571 | 2,342 | 2,481 | 3,823 | 4,571 |
Non-PCI Loans | Commercial | Commercial and industrial | ||||||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||||||
Beginning balance | 57,025 | 59,317 | 55,620 | 59,824 | ||||
Provision for Loan, Lease, and Other Losses | 2,699 | 3,791 | 5,424 | 4,353 | ||||
Charge-offs | (3,422) | (2,439) | (5,280) | (4,768) | ||||
Recoveries | 599 | 642 | 1,137 | 1,902 | ||||
Ending balance | 56,901 | 61,311 | 56,901 | 61,311 | ||||
Allowance for Loans and Leases Evaluated for Impairment [Abstract] | ||||||||
Loans and leases individually evaluated for impairment | 12,161 | 9,868 | ||||||
Loans and leases collectively evaluated for impairment | 3,968,343 | 3,928,862 | ||||||
Net loans and leases | 3,980,504 | 3,938,730 | ||||||
ALLL for loans and leases individually evaluated for impairment | 1,422 | 1,137 | ||||||
ALLL for loans and leases collectively evaluated for impairment | 55,479 | 54,483 | ||||||
Total allowance for loan and lease losses | 57,025 | 59,317 | 56,901 | 61,311 | 56,901 | 55,620 | 61,311 | 59,824 |
Non-PCI Loans | Commercial | Other | ||||||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||||||
Beginning balance | 2,167 | 4,842 | 2,221 | 4,689 | ||||
Provision for Loan, Lease, and Other Losses | (174) | (114) | (672) | 0 | ||||
Charge-offs | (31) | (38) | (31) | (41) | ||||
Recoveries | 221 | 1 | 665 | 43 | ||||
Ending balance | 2,183 | 4,691 | 2,183 | 4,691 | ||||
Allowance for Loans and Leases Evaluated for Impairment [Abstract] | ||||||||
Loans and leases individually evaluated for impairment | 315 | 291 | ||||||
Loans and leases collectively evaluated for impairment | 301,031 | 296,133 | ||||||
Net loans and leases | 301,346 | 296,424 | ||||||
ALLL for loans and leases individually evaluated for impairment | 104 | 105 | ||||||
ALLL for loans and leases collectively evaluated for impairment | 2,079 | 2,116 | ||||||
Total allowance for loan and lease losses | 2,167 | 4,842 | 2,183 | 4,691 | 2,183 | 2,221 | 4,691 | 4,689 |
Non-PCI Loans | Noncommercial | ||||||||
Allowance for Loans and Leases Evaluated for Impairment [Abstract] | ||||||||
Loans and leases individually evaluated for impairment | 89,343 | |||||||
ALLL for loans and leases individually evaluated for impairment | 6,323 | |||||||
Non-PCI Loans | Noncommercial | Construction and land development | ||||||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||||||
Beginning balance | 2,473 | 3,913 | 2,350 | 3,962 | ||||
Provision for Loan, Lease, and Other Losses | 277 | 50 | 400 | 157 | ||||
Charge-offs | 0 | (37) | 0 | (219) | ||||
Recoveries | 0 | 101 | 0 | 127 | ||||
Ending balance | 2,750 | 4,027 | 2,750 | 4,027 | ||||
Allowance for Loans and Leases Evaluated for Impairment [Abstract] | ||||||||
Loans and leases individually evaluated for impairment | 3,059 | 3,749 | ||||||
Loans and leases collectively evaluated for impairment | 312,012 | 253,281 | ||||||
Net loans and leases | 315,071 | 257,030 | ||||||
ALLL for loans and leases individually evaluated for impairment | 82 | 81 | ||||||
ALLL for loans and leases collectively evaluated for impairment | 2,668 | 2,269 | ||||||
Total allowance for loan and lease losses | 2,473 | 3,913 | 2,350 | 4,027 | 2,750 | 2,350 | 4,027 | 3,962 |
Non-PCI Loans | Noncommercial | Mortgage | ||||||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||||||
Beginning balance | 16,987 | 16,489 | 15,472 | 15,706 | ||||
Provision for Loan, Lease, and Other Losses | 371 | 1,492 | 1,879 | 3,004 | ||||
Charge-offs | (478) | (289) | (644) | (1,095) | ||||
Recoveries | 52 | 110 | 225 | 187 | ||||
Ending balance | 16,932 | 17,802 | 16,932 | 17,802 | ||||
Allowance for Loans and Leases Evaluated for Impairment [Abstract] | ||||||||
Loans and leases individually evaluated for impairment | 53,137 | 42,168 | ||||||
Loans and leases collectively evaluated for impairment | 4,737,499 | 4,223,519 | ||||||
Net loans and leases | 4,790,636 | 4,265,687 | ||||||
ALLL for loans and leases individually evaluated for impairment | 2,566 | 1,901 | ||||||
ALLL for loans and leases collectively evaluated for impairment | 14,366 | 13,571 | ||||||
Total allowance for loan and lease losses | 16,987 | 16,489 | 16,932 | 17,802 | 16,932 | 15,472 | 17,802 | 15,706 |
Non-PCI Loans | Noncommercial | Revolving mortgage | ||||||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||||||
Beginning balance | 21,495 | 22,104 | 21,862 | 22,436 | ||||
Provision for Loan, Lease, and Other Losses | (328) | 289 | (119) | 755 | ||||
Charge-offs | (493) | (1,027) | (1,456) | (2,019) | ||||
Recoveries | 447 | 520 | 834 | 714 | ||||
Ending balance | 21,121 | 21,886 | 21,121 | 21,886 | ||||
Allowance for Loans and Leases Evaluated for Impairment [Abstract] | ||||||||
Loans and leases individually evaluated for impairment | 30,040 | 28,852 | ||||||
Loans and leases collectively evaluated for impairment | 2,440,613 | 2,514,123 | ||||||
Net loans and leases | 2,470,653 | 2,542,975 | ||||||
ALLL for loans and leases individually evaluated for impairment | 2,704 | 2,515 | ||||||
ALLL for loans and leases collectively evaluated for impairment | 18,417 | 19,347 | ||||||
Total allowance for loan and lease losses | 21,495 | 22,104 | 21,862 | 21,886 | 21,121 | 21,862 | 21,886 | 22,436 |
Non-PCI Loans | Noncommercial | Consumer | ||||||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||||||
Beginning balance | 34,492 | 30,181 | 35,841 | 31,204 | ||||
Provision for Loan, Lease, and Other Losses | 4,877 | 4,574 | 8,317 | 7,497 | ||||
Charge-offs | (6,061) | (5,312) | (12,423) | (10,567) | ||||
Recoveries | 1,797 | 1,330 | 3,370 | 2,639 | ||||
Ending balance | 35,105 | 30,773 | 35,105 | 30,773 | ||||
Allowance for Loans and Leases Evaluated for Impairment [Abstract] | ||||||||
Loans and leases individually evaluated for impairment | 3,107 | 3,020 | ||||||
Loans and leases collectively evaluated for impairment | 1,752,495 | 1,710,761 | ||||||
Net loans and leases | 1,755,602 | 1,713,781 | ||||||
ALLL for loans and leases individually evaluated for impairment | 971 | 885 | ||||||
ALLL for loans and leases collectively evaluated for impairment | 34,134 | 34,956 | ||||||
Total allowance for loan and lease losses | 34,492 | 30,181 | 35,841 | 30,773 | 35,105 | 35,841 | 30,773 | 31,204 |
PCI Loans | ||||||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||||||
Beginning balance | 8,980 | 12,296 | 9,144 | 10,026 | ||||
Provision for Loan, Lease, and Other Losses | (637) | 161 | (801) | 2,515 | ||||
Charge-offs | 0 | 34 | 0 | 118 | ||||
Recoveries | 0 | 0 | 0 | 0 | ||||
Ending balance | 8,343 | 12,423 | 8,343 | 12,423 | ||||
Allowance for Loans and Leases Evaluated for Impairment [Abstract] | ||||||||
Total allowance for loan and lease losses | $ 8,980 | $ 12,296 | $ 8,343 | $ 12,423 | $ 8,343 | $ 9,144 | $ 12,423 | $ 10,026 |
Allowance for Loan and Lease _4
Allowance for Loan and Lease Losses (Allocation of Allowance for Loan and Lease Losses) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | Dec. 31, 2018 | |
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Financing Receivable, Modifications, Recorded Investment | $ 164,857 | $ 164,857 | $ 156,130 | ||
Unpaid principal balance | 805,754 | $ 1,044,148 | 805,754 | $ 1,044,148 | |
Loans and Leases Receivable, Net Amount | 26,501,654 | 26,501,654 | 25,299,564 | ||
Non-PCI impaired loans less than $500,000 collectively evaluated | 39,900 | 39,900 | 47,100 | ||
Commercial | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Financing Receivable, Modifications, Recorded Investment | 74,470 | 74,470 | 74,560 | ||
Commercial | Construction and land development | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Financing Receivable, Modifications, Recorded Investment | 2,193 | 2,193 | 2,298 | ||
Commercial | Mortgage | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Financing Receivable, Modifications, Recorded Investment | 59,260 | 59,260 | 61,065 | ||
Commercial | Other commercial real estate | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Financing Receivable, Modifications, Recorded Investment | 506 | 506 | 860 | ||
Commercial | Commercial and industrial | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Financing Receivable, Modifications, Recorded Investment | 12,196 | 12,196 | 10,046 | ||
Commercial | Other | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Financing Receivable, Modifications, Recorded Investment | 315 | 315 | 291 | ||
Noncommercial | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Financing Receivable, Modifications, Recorded Investment | 90,387 | 90,387 | 81,570 | ||
Noncommercial | Construction and land development | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Financing Receivable, Modifications, Recorded Investment | 3,060 | 3,060 | 2,337 | ||
Noncommercial | Consumer and Other | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Financing Receivable, Modifications, Recorded Investment | 3,106 | 3,106 | 3,021 | ||
Noncommercial | Mortgage | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Financing Receivable, Modifications, Recorded Investment | 54,099 | 54,099 | 47,524 | ||
Noncommercial | Revolving mortgage | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Financing Receivable, Modifications, Recorded Investment | 30,122 | 30,122 | 28,688 | ||
PCI Loans | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Financing Receivable, Modifications, Recorded Investment | 18,000 | 18,000 | 18,200 | ||
Acquired loans which have adverse change in expected cash flows | 163,900 | 163,900 | 186,600 | ||
Provision for Loan, Lease, and Other Losses | (637) | 161 | (801) | 2,515 | |
Financing Receivable, Allowance for Credit Losses, Write-downs | 0 | 34 | 0 | 118 | |
Recoveries | 0 | 0 | 0 | 0 | |
Non-PCI Loans | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Unpaid principal balance | 186,055 | 186,055 | 163,902 | ||
ALLL for loans and leases individually evaluated for impairment | 11,098 | 11,098 | 9,827 | ||
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 121,996 | 121,996 | 115,073 | ||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 44,677 | 44,677 | 31,357 | ||
Financing Receivable, Individually Evaluated for Impairment | 166,673 | 166,673 | 146,430 | ||
Average balance | 157,877 | 155,051 | 152,886 | 155,038 | |
Interest income recognized | 1,301 | 1,370 | 2,640 | 2,742 | |
Provision for Loan, Lease, and Other Losses | 5,835 | 8,277 | 17,749 | 13,528 | |
Financing Receivable, Allowance for Credit Losses, Write-downs | (10,602) | (9,678) | (20,756) | (19,291) | |
Recoveries | 3,212 | 3,023 | 6,679 | 6,338 | |
Financing Receivable, Allowance for Credit Losses, Collectively Evaluated for Impairment | 207,142 | 207,142 | 204,741 | ||
Financing Receivable, Collectively Evaluated for Impairment | 26,010,117 | 26,010,117 | 24,770,270 | ||
Loans and Leases Receivable, Net Amount | 26,176,790 | 26,176,790 | 24,916,700 | ||
Non-PCI Loans | Commercial | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Unpaid principal balance | 89,231 | 89,231 | |||
ALLL for loans and leases individually evaluated for impairment | 4,775 | 4,775 | |||
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 47,857 | 47,857 | |||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 29,473 | 29,473 | |||
Financing Receivable, Individually Evaluated for Impairment | 77,330 | 77,330 | |||
Average balance | 73,203 | 80,437 | 71,491 | 82,667 | |
Interest income recognized | 665 | 778 | 1,367 | 1,598 | |
Non-PCI Loans | Commercial | Construction and land development | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Unpaid principal balance | 2,490 | 2,490 | 2,606 | ||
ALLL for loans and leases individually evaluated for impairment | 196 | 196 | 490 | ||
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 463 | 463 | 1,897 | ||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 1,615 | 1,615 | 278 | ||
Financing Receivable, Individually Evaluated for Impairment | 2,078 | 2,078 | 2,175 | ||
Average balance | 2,102 | 1,485 | 2,125 | 1,320 | |
Interest income recognized | 6 | 17 | 34 | 28 | |
Provision for Loan, Lease, and Other Losses | (5,544) | (3,139) | (3,425) | (914) | |
Financing Receivable, Allowance for Credit Losses, Write-downs | (28) | (8) | (72) | (8) | |
Recoveries | 40 | 93 | 171 | 116 | |
Financing Receivable, Allowance for Credit Losses, Collectively Evaluated for Impairment | 31,748 | 31,748 | 34,780 | ||
Financing Receivable, Collectively Evaluated for Impairment | 717,456 | 717,456 | 755,679 | ||
Loans and Leases Receivable, Net Amount | 719,534 | 719,534 | 757,854 | ||
Non-PCI Loans | Commercial | Mortgage | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Unpaid principal balance | 68,477 | 68,477 | 61,317 | ||
ALLL for loans and leases individually evaluated for impairment | 3,042 | 3,042 | 2,671 | ||
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 38,793 | 38,793 | 34,177 | ||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 23,477 | 23,477 | 21,270 | ||
Financing Receivable, Individually Evaluated for Impairment | 62,270 | 62,270 | 55,447 | ||
Average balance | 58,906 | 68,113 | 57,768 | 70,190 | |
Interest income recognized | 538 | 659 | 1,102 | 1,370 | |
Provision for Loan, Lease, and Other Losses | 3,714 | 866 | 6,085 | (499) | |
Financing Receivable, Allowance for Credit Losses, Write-downs | (89) | (459) | (850) | (505) | |
Recoveries | 56 | 225 | 276 | 464 | |
Financing Receivable, Allowance for Credit Losses, Collectively Evaluated for Impairment | 45,920 | 45,920 | 40,780 | ||
Financing Receivable, Collectively Evaluated for Impairment | 11,274,414 | 11,274,414 | 10,661,787 | ||
Loans and Leases Receivable, Net Amount | 11,336,684 | 11,336,684 | 10,717,234 | ||
Non-PCI Loans | Commercial | Other commercial real estate | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Unpaid principal balance | 595 | 595 | 946 | ||
ALLL for loans and leases individually evaluated for impairment | 11 | 11 | 42 | ||
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 197 | 197 | 243 | ||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 309 | 309 | 617 | ||
Financing Receivable, Individually Evaluated for Impairment | 506 | 506 | 860 | ||
Average balance | 519 | 1,345 | 602 | 1,529 | |
Interest income recognized | 6 | 12 | 14 | 23 | |
Provision for Loan, Lease, and Other Losses | (57) | 468 | (140) | (825) | |
Financing Receivable, Allowance for Credit Losses, Write-downs | 0 | (69) | 0 | (69) | |
Recoveries | 0 | 1 | 1 | 146 | |
Financing Receivable, Allowance for Credit Losses, Collectively Evaluated for Impairment | 2,331 | 2,331 | 2,439 | ||
Financing Receivable, Collectively Evaluated for Impairment | 506,254 | 506,254 | 426,125 | ||
Loans and Leases Receivable, Net Amount | 506,760 | 506,760 | 426,985 | ||
Non-PCI Loans | Commercial | Commercial and industrial | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Unpaid principal balance | 17,333 | 17,333 | 14,695 | ||
ALLL for loans and leases individually evaluated for impairment | 1,422 | 1,422 | 1,137 | ||
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 8,155 | 8,155 | 7,153 | ||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 4,006 | 4,006 | 2,715 | ||
Financing Receivable, Individually Evaluated for Impairment | 12,161 | 12,161 | 9,868 | ||
Average balance | 11,348 | 9,427 | 10,674 | 9,594 | |
Interest income recognized | 113 | 90 | 213 | 177 | |
Provision for Loan, Lease, and Other Losses | 2,699 | 3,791 | 5,424 | 4,353 | |
Financing Receivable, Allowance for Credit Losses, Write-downs | (3,422) | (2,439) | (5,280) | (4,768) | |
Recoveries | 599 | 642 | 1,137 | 1,902 | |
Financing Receivable, Allowance for Credit Losses, Collectively Evaluated for Impairment | 55,479 | 55,479 | 54,483 | ||
Financing Receivable, Collectively Evaluated for Impairment | 3,968,343 | 3,968,343 | 3,928,862 | ||
Loans and Leases Receivable, Net Amount | 3,980,504 | 3,980,504 | 3,938,730 | ||
Non-PCI Loans | Commercial | Other | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Unpaid principal balance | 336 | 336 | 301 | ||
ALLL for loans and leases individually evaluated for impairment | 104 | 104 | 105 | ||
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 249 | 249 | 216 | ||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 66 | 66 | 75 | ||
Financing Receivable, Individually Evaluated for Impairment | 315 | 315 | 291 | ||
Average balance | 328 | 67 | 322 | 34 | |
Interest income recognized | 2 | 0 | 4 | 0 | |
Provision for Loan, Lease, and Other Losses | (174) | (114) | (672) | 0 | |
Financing Receivable, Allowance for Credit Losses, Write-downs | (31) | (38) | (31) | (41) | |
Recoveries | 221 | 1 | 665 | 43 | |
Financing Receivable, Allowance for Credit Losses, Collectively Evaluated for Impairment | 2,079 | 2,079 | 2,116 | ||
Financing Receivable, Collectively Evaluated for Impairment | 301,031 | 301,031 | 296,133 | ||
Loans and Leases Receivable, Net Amount | 301,346 | 301,346 | 296,424 | ||
Non-PCI Loans | Noncommercial | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Unpaid principal balance | 96,824 | 96,824 | |||
ALLL for loans and leases individually evaluated for impairment | 6,323 | 6,323 | |||
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 74,139 | 74,139 | |||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 15,204 | 15,204 | |||
Financing Receivable, Individually Evaluated for Impairment | 89,343 | 89,343 | |||
Average balance | 84,674 | 74,614 | 81,395 | 72,371 | |
Interest income recognized | 636 | 592 | 1,273 | 1,144 | |
Non-PCI Loans | Noncommercial | Construction and land development | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Unpaid principal balance | 3,353 | 3,353 | 4,035 | ||
ALLL for loans and leases individually evaluated for impairment | 82 | 82 | 81 | ||
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 1,647 | 1,647 | 2,337 | ||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 1,412 | 1,412 | 1,412 | ||
Financing Receivable, Individually Evaluated for Impairment | 3,059 | 3,059 | 3,749 | ||
Average balance | 3,547 | 3,526 | 3,647 | 3,815 | |
Interest income recognized | 32 | 44 | 68 | 92 | |
Provision for Loan, Lease, and Other Losses | 277 | 50 | 400 | 157 | |
Financing Receivable, Allowance for Credit Losses, Write-downs | 0 | (37) | 0 | (219) | |
Recoveries | 0 | 101 | 0 | 127 | |
Financing Receivable, Allowance for Credit Losses, Collectively Evaluated for Impairment | 2,668 | 2,668 | 2,269 | ||
Financing Receivable, Collectively Evaluated for Impairment | 312,012 | 312,012 | 253,281 | ||
Loans and Leases Receivable, Net Amount | 315,071 | 315,071 | 257,030 | ||
Non-PCI Loans | Noncommercial | Mortgage | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Unpaid principal balance | 56,860 | 56,860 | 45,226 | ||
ALLL for loans and leases individually evaluated for impairment | 2,566 | 2,566 | 1,901 | ||
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 43,349 | 43,349 | 40,359 | ||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 9,788 | 9,788 | 1,809 | ||
Financing Receivable, Individually Evaluated for Impairment | 53,137 | 53,137 | 42,168 | ||
Average balance | 48,490 | 42,046 | 45,558 | 40,385 | |
Interest income recognized | 317 | 298 | 642 | 573 | |
Provision for Loan, Lease, and Other Losses | 371 | 1,492 | 1,879 | 3,004 | |
Financing Receivable, Allowance for Credit Losses, Write-downs | (478) | (289) | (644) | (1,095) | |
Recoveries | 52 | 110 | 225 | 187 | |
Financing Receivable, Allowance for Credit Losses, Collectively Evaluated for Impairment | 14,366 | 14,366 | 13,571 | ||
Financing Receivable, Collectively Evaluated for Impairment | 4,737,499 | 4,737,499 | 4,223,519 | ||
Loans and Leases Receivable, Net Amount | 4,790,636 | 4,790,636 | 4,265,687 | ||
Non-PCI Loans | Noncommercial | Revolving mortgage | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Unpaid principal balance | 33,135 | 33,135 | 31,371 | ||
ALLL for loans and leases individually evaluated for impairment | 2,704 | 2,704 | 2,515 | ||
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 26,104 | 26,104 | 25,751 | ||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 3,936 | 3,936 | 3,101 | ||
Financing Receivable, Individually Evaluated for Impairment | 30,040 | 30,040 | 28,852 | ||
Average balance | 29,623 | 26,388 | 29,183 | 25,590 | |
Interest income recognized | 256 | 222 | 503 | 423 | |
Provision for Loan, Lease, and Other Losses | (328) | 289 | (119) | 755 | |
Financing Receivable, Allowance for Credit Losses, Write-downs | (493) | (1,027) | (1,456) | (2,019) | |
Recoveries | 447 | 520 | 834 | 714 | |
Financing Receivable, Allowance for Credit Losses, Collectively Evaluated for Impairment | 18,417 | 18,417 | 19,347 | ||
Financing Receivable, Collectively Evaluated for Impairment | 2,440,613 | 2,440,613 | 2,514,123 | ||
Loans and Leases Receivable, Net Amount | 2,470,653 | 2,470,653 | 2,542,975 | ||
Non-PCI Loans | Noncommercial | Consumer | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Unpaid principal balance | 3,476 | 3,476 | 3,405 | ||
ALLL for loans and leases individually evaluated for impairment | 971 | 971 | 885 | ||
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 3,039 | 3,039 | 2,940 | ||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 68 | 68 | 80 | ||
Financing Receivable, Individually Evaluated for Impairment | 3,107 | 3,107 | 3,020 | ||
Average balance | 3,014 | 2,654 | 3,007 | 2,581 | |
Interest income recognized | 31 | 28 | 60 | 56 | |
Provision for Loan, Lease, and Other Losses | 4,877 | 4,574 | 8,317 | 7,497 | |
Financing Receivable, Allowance for Credit Losses, Write-downs | (6,061) | (5,312) | (12,423) | (10,567) | |
Recoveries | 1,797 | $ 1,330 | 3,370 | $ 2,639 | |
Financing Receivable, Allowance for Credit Losses, Collectively Evaluated for Impairment | 34,134 | 34,134 | 34,956 | ||
Financing Receivable, Collectively Evaluated for Impairment | 1,752,495 | 1,752,495 | 1,710,761 | ||
Loans and Leases Receivable, Net Amount | $ 1,755,602 | $ 1,755,602 | $ 1,713,781 |
Allowance for Loan and Lease _5
Allowance for Loan and Lease Losses (Troubled Debt Restructuring) (Details) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2019USD ($)loans | Jun. 30, 2018USD ($)loans | Jun. 30, 2019USD ($)loans | Jun. 30, 2018USD ($)loans | Dec. 31, 2018USD ($) | |
Financing Receivable, Modifications [Line Items] | |||||
Financing Receivable, Modifications, Number of Contracts | loans | 115 | 101 | 239 | 249 | |
Financing Receivable, Modifications, Recorded Investment | $ 164,857 | $ 164,857 | $ 156,130 | ||
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 17,374 | $ 13,087 | $ 24,522 | $ 23,947 | |
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans | 62 | 66 | 120 | 129 | |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 5,901 | $ 4,354 | $ 12,330 | $ 9,182 | |
PCI Loans | |||||
Financing Receivable, Modifications [Line Items] | |||||
Financing Receivable, Modifications, Recorded Investment | 18,000 | 18,000 | 18,200 | ||
Commercial | |||||
Financing Receivable, Modifications [Line Items] | |||||
Financing Receivable, Modifications, Recorded Investment | 74,470 | 74,470 | 74,560 | ||
Commercial | Construction and land development | |||||
Financing Receivable, Modifications [Line Items] | |||||
Financing Receivable, Modifications, Recorded Investment | 2,193 | 2,193 | 2,298 | ||
Commercial | Mortgage | |||||
Financing Receivable, Modifications [Line Items] | |||||
Financing Receivable, Modifications, Recorded Investment | 59,260 | 59,260 | 61,065 | ||
Commercial | Other commercial real estate | |||||
Financing Receivable, Modifications [Line Items] | |||||
Financing Receivable, Modifications, Recorded Investment | 506 | 506 | 860 | ||
Commercial | Commercial and industrial | |||||
Financing Receivable, Modifications [Line Items] | |||||
Financing Receivable, Modifications, Recorded Investment | 12,196 | 12,196 | 10,046 | ||
Commercial | Other | |||||
Financing Receivable, Modifications [Line Items] | |||||
Financing Receivable, Modifications, Recorded Investment | 315 | 315 | 291 | ||
Noncommercial | |||||
Financing Receivable, Modifications [Line Items] | |||||
Financing Receivable, Modifications, Recorded Investment | 90,387 | 90,387 | 81,570 | ||
Noncommercial | Construction and land development | |||||
Financing Receivable, Modifications [Line Items] | |||||
Financing Receivable, Modifications, Recorded Investment | 3,060 | 3,060 | 2,337 | ||
Noncommercial | Mortgage | |||||
Financing Receivable, Modifications [Line Items] | |||||
Financing Receivable, Modifications, Recorded Investment | 54,099 | 54,099 | 47,524 | ||
Noncommercial | Revolving mortgage | |||||
Financing Receivable, Modifications [Line Items] | |||||
Financing Receivable, Modifications, Recorded Investment | 30,122 | 30,122 | 28,688 | ||
Noncommercial | Consumer and Other | |||||
Financing Receivable, Modifications [Line Items] | |||||
Financing Receivable, Modifications, Recorded Investment | 3,106 | 3,106 | 3,021 | ||
Accruing | |||||
Financing Receivable, Modifications [Line Items] | |||||
Financing Receivable, Modifications, Recorded Investment | 123,800 | 123,800 | 127,093 | ||
Accruing | Commercial | |||||
Financing Receivable, Modifications [Line Items] | |||||
Financing Receivable, Modifications, Recorded Investment | 62,405 | 62,405 | 64,171 | ||
Accruing | Commercial | Construction and land development | |||||
Financing Receivable, Modifications [Line Items] | |||||
Financing Receivable, Modifications, Recorded Investment | 567 | 567 | 1,946 | ||
Accruing | Commercial | Mortgage | |||||
Financing Receivable, Modifications [Line Items] | |||||
Financing Receivable, Modifications, Recorded Investment | 51,374 | 51,374 | 53,270 | ||
Accruing | Commercial | Other commercial real estate | |||||
Financing Receivable, Modifications [Line Items] | |||||
Financing Receivable, Modifications, Recorded Investment | 506 | 506 | 851 | ||
Accruing | Commercial | Commercial and industrial | |||||
Financing Receivable, Modifications [Line Items] | |||||
Financing Receivable, Modifications, Recorded Investment | 9,851 | 9,851 | 7,986 | ||
Accruing | Commercial | Other | |||||
Financing Receivable, Modifications [Line Items] | |||||
Financing Receivable, Modifications, Recorded Investment | 107 | 107 | 118 | ||
Accruing | Noncommercial | |||||
Financing Receivable, Modifications [Line Items] | |||||
Financing Receivable, Modifications, Recorded Investment | 61,395 | 61,395 | 62,922 | ||
Accruing | Noncommercial | Construction and land development | |||||
Financing Receivable, Modifications [Line Items] | |||||
Financing Receivable, Modifications, Recorded Investment | 1,495 | 1,495 | 2,227 | ||
Accruing | Noncommercial | Mortgage | |||||
Financing Receivable, Modifications [Line Items] | |||||
Financing Receivable, Modifications, Recorded Investment | 36,260 | 36,260 | 37,903 | ||
Accruing | Noncommercial | Revolving mortgage | |||||
Financing Receivable, Modifications [Line Items] | |||||
Financing Receivable, Modifications, Recorded Investment | 21,203 | 21,203 | 20,492 | ||
Accruing | Noncommercial | Consumer and Other | |||||
Financing Receivable, Modifications [Line Items] | |||||
Financing Receivable, Modifications, Recorded Investment | 2,437 | 2,437 | 2,300 | ||
Nonaccruing | |||||
Financing Receivable, Modifications [Line Items] | |||||
Financing Receivable, Modifications, Recorded Investment | 41,057 | 41,057 | 29,037 | ||
Nonaccruing | Commercial | |||||
Financing Receivable, Modifications [Line Items] | |||||
Financing Receivable, Modifications, Recorded Investment | 12,065 | 12,065 | 10,389 | ||
Nonaccruing | Commercial | Construction and land development | |||||
Financing Receivable, Modifications [Line Items] | |||||
Financing Receivable, Modifications, Recorded Investment | 1,626 | 1,626 | 352 | ||
Nonaccruing | Commercial | Mortgage | |||||
Financing Receivable, Modifications [Line Items] | |||||
Financing Receivable, Modifications, Recorded Investment | 7,886 | 7,886 | 7,795 | ||
Nonaccruing | Commercial | Other commercial real estate | |||||
Financing Receivable, Modifications [Line Items] | |||||
Financing Receivable, Modifications, Recorded Investment | 0 | 0 | 9 | ||
Nonaccruing | Commercial | Commercial and industrial | |||||
Financing Receivable, Modifications [Line Items] | |||||
Financing Receivable, Modifications, Recorded Investment | 2,345 | 2,345 | 2,060 | ||
Nonaccruing | Commercial | Other | |||||
Financing Receivable, Modifications [Line Items] | |||||
Financing Receivable, Modifications, Recorded Investment | 208 | 208 | 173 | ||
Nonaccruing | Noncommercial | |||||
Financing Receivable, Modifications [Line Items] | |||||
Financing Receivable, Modifications, Recorded Investment | 28,992 | 28,992 | 18,648 | ||
Nonaccruing | Noncommercial | Construction and land development | |||||
Financing Receivable, Modifications [Line Items] | |||||
Financing Receivable, Modifications, Recorded Investment | 1,565 | 1,565 | 110 | ||
Nonaccruing | Noncommercial | Mortgage | |||||
Financing Receivable, Modifications [Line Items] | |||||
Financing Receivable, Modifications, Recorded Investment | 17,839 | 17,839 | 9,621 | ||
Nonaccruing | Noncommercial | Revolving mortgage | |||||
Financing Receivable, Modifications [Line Items] | |||||
Financing Receivable, Modifications, Recorded Investment | 8,919 | 8,919 | 8,196 | ||
Nonaccruing | Noncommercial | Consumer and Other | |||||
Financing Receivable, Modifications [Line Items] | |||||
Financing Receivable, Modifications, Recorded Investment | $ 669 | $ 669 | $ 721 | ||
Interest only period provided | |||||
Financing Receivable, Modifications [Line Items] | |||||
Financing Receivable, Modifications, Number of Contracts | loans | 4 | 1 | 4 | 2 | |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 4,343 | $ 154 | $ 4,343 | $ 821 | |
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans | 0 | 2 | 2 | 2 | |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 0 | $ 821 | $ 3,203 | $ 821 | |
Loan term extension | |||||
Financing Receivable, Modifications [Line Items] | |||||
Financing Receivable, Modifications, Number of Contracts | loans | 4 | 10 | 8 | 17 | |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 998 | $ 936 | $ 1,437 | $ 1,658 | |
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans | 2 | 7 | 4 | 8 | |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 183 | $ 341 | $ 534 | $ 638 | |
Below market interest rate | |||||
Financing Receivable, Modifications [Line Items] | |||||
Financing Receivable, Modifications, Number of Contracts | loans | 67 | 53 | 125 | 139 | |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 6,979 | $ 9,525 | $ 11,063 | $ 15,873 | |
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans | 30 | 33 | 61 | 64 | |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 2,612 | $ 1,702 | $ 4,645 | $ 3,385 | |
Discharged from bankruptcy | |||||
Financing Receivable, Modifications [Line Items] | |||||
Financing Receivable, Modifications, Number of Contracts | loans | 40 | 37 | 102 | 91 | |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 5,054 | $ 2,472 | $ 7,679 | $ 5,595 | |
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans | 30 | 24 | 53 | 55 | |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 3,106 | $ 1,490 | $ 3,948 | $ 4,338 |
Allowance for Loan and Lease _6
Allowance for Loan and Lease Losses (Note Restructurings During Period) (Details) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019USD ($)loans | Jun. 30, 2018USD ($)loans | Jun. 30, 2019USD ($)loans | Jun. 30, 2018USD ($)loans | |
Financing Receivable, Modifications [Line Items] | ||||
Financing Receivable, Modifications, Number of Contracts | loans | 115 | 101 | 239 | 249 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ | $ 17,374 | $ 13,087 | $ 24,522 | $ 23,947 |
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans | 62 | 66 | 120 | 129 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ | $ 5,901 | $ 4,354 | $ 12,330 | $ 9,182 |
Loan term extension | ||||
Financing Receivable, Modifications [Line Items] | ||||
Financing Receivable, Modifications, Number of Contracts | loans | 4 | 10 | 8 | 17 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ | $ 998 | $ 936 | $ 1,437 | $ 1,658 |
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans | 2 | 7 | 4 | 8 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ | $ 183 | $ 341 | $ 534 | $ 638 |
Interest only period provided | ||||
Financing Receivable, Modifications [Line Items] | ||||
Financing Receivable, Modifications, Number of Contracts | loans | 4 | 1 | 4 | 2 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ | $ 4,343 | $ 154 | $ 4,343 | $ 821 |
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans | 0 | 2 | 2 | 2 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ | $ 0 | $ 821 | $ 3,203 | $ 821 |
Below market interest rate | ||||
Financing Receivable, Modifications [Line Items] | ||||
Financing Receivable, Modifications, Number of Contracts | loans | 67 | 53 | 125 | 139 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ | $ 6,979 | $ 9,525 | $ 11,063 | $ 15,873 |
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans | 30 | 33 | 61 | 64 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ | $ 2,612 | $ 1,702 | $ 4,645 | $ 3,385 |
Discharged from bankruptcy | ||||
Financing Receivable, Modifications [Line Items] | ||||
Financing Receivable, Modifications, Number of Contracts | loans | 40 | 37 | 102 | 91 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ | $ 5,054 | $ 2,472 | $ 7,679 | $ 5,595 |
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans | 30 | 24 | 53 | 55 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ | $ 3,106 | $ 1,490 | $ 3,948 | $ 4,338 |
Other Real Estate Owned (Detail
Other Real Estate Owned (Details) - USD ($) $ in Thousands | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Dec. 31, 2018 | |
Real Estate Properties [Line Items] | |||
Advances from Federal Home Loan Banks | $ 175,200 | ||
Mortgage Loans in Process of Foreclosure, Amount | $ 22,800 | $ 22,000 | |
Total | |||
Beginning balance | 48,030 | $ 51,097 | |
Additions | 7,894 | 11,868 | |
Sales | (11,012) | (15,769) | |
Write-downs | (2,289) | (2,698) | |
Ending balance | 46,236 | 46,633 | |
Mortgage | |||
Total | |||
Beginning balance | 17,200 | ||
Ending balance | 17,700 | ||
2019 Acquisitions | |||
Total | |||
Additions | 3,613 | ||
HomeBancorp Inc. | |||
Total | |||
Additions | $ 2,135 | ||
Federal Home Loan Bank of Chicago | |||
Real Estate Properties [Line Items] | |||
Advances from Federal Home Loan Banks | $ 13,500 |
FDIC Shared-Loss Receivable (Na
FDIC Shared-Loss Receivable (Narrative) (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
FDIC Shared-Loss Receivable [Abstract] | ||
Loans and Leases Receivable, Gross, Carrying Amount, Covered | $ 50,200 | |
FDIC shared-loss payable | $ 108,892 | $ 105,618 |
FDIC Shared-Loss Receivable FDI
FDIC Shared-Loss Receivable FDIC Shared-Loss Payable (Changes in Payable to FDIC) (Details) $ in Thousands | 3 Months Ended |
Jun. 30, 2019USD ($) | |
FDIC Shared-Payable [Abstract] | |
Accretion expense | $ 3,274 |
FDIC shared-loss payable | $ 108,892 |
Mortgage Servicing Rights (MSR
Mortgage Servicing Rights (MSR Carrying Value) (Details) - USD ($) | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | Dec. 31, 2018 | |
Servicing Asset at Amortized Cost [Line Items] | |||||
Mortgage servicing rights | $ 20,665,000 | $ 20,665,000 | $ 20,647,000 | ||
Servicing rights originated | 1,552,000 | ||||
Amortization of Mortgage Servicing Rights (MSRs) | (1,567,000) | ||||
Valuation allowance (provision) reversal | $ (33,000) | $ 0 | $ 128,000 | $ 0 |
Mortgage Servicing Rights (Valu
Mortgage Servicing Rights (Valuation allowance) (Details) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Valuation Allowance for Impairment of Recognized Servicing Assets [Line Items] | ||||
Valuation allowance provision (reversal) | $ 33,000 | $ 0 | $ (128,000) | $ 0 |
Mortgage Servicing Rights (Econ
Mortgage Servicing Rights (Economic Assumptions) (Details) - $ / loans | 6 Months Ended | 12 Months Ended |
Jun. 30, 2019 | Dec. 31, 2019 | |
Servicing Asset Key Economic Assumptions [Line Items] | ||
Weighted average constant prepayment rate | 13.39% | 9.26% |
Weighted average cost to service a loan | 88.03 | 87.52 |
Fixed Rate Residential Mortgage | ||
Servicing Asset Key Economic Assumptions [Line Items] | ||
Discount rate | 9.01% | 9.69% |
All Loans and Leases, Excluding Conventional Fixed Loans | ||
Servicing Asset Key Economic Assumptions [Line Items] | ||
Discount rate | 10.01% | 10.69% |
Mortgage Servicing Rights (Narr
Mortgage Servicing Rights (Narrative) (Details) - USD ($) | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | Dec. 31, 2018 | |
Mortgage Servicing Rights [Abstract] | |||||
Residential Mortgage Loans Serviced | $ 3,010,000,000 | $ 3,010,000,000 | $ 2,950,000,000 | ||
Contractually Specified Servicing Fee, Late Fee, and Ancillary Fee Earned in Exchange for Servicing Financial Asset | 2,000,000 | $ 1,900,000 | 3,900,000 | $ 3,800,000 | |
Other servicing rights | 2,100,000 | 2,100,000 | $ 2,700,000 | ||
Amortization of Mortgage Servicing Rights (MSRs) | 1,567,000 | ||||
Valuation allowance provision (reversal) | $ (33,000) | $ 0 | $ 128,000 | $ 0 |
Repurchase Agreements (Details)
Repurchase Agreements (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
Assets Sold under Agreements to Repurchase [Line Items] | ||
Securities Sold under Agreements to Repurchase, Fair Value of Collateral | $ 612,500 | $ 598,600 |
Securities sold under customer repurchase agreements | 544,527 | 543,936 |
Overnight and continuous | U. S. Treasury | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Securities sold under customer repurchase agreements | $ 544,500 | $ 543,900 |
Estimated Fair Values (Estimate
Estimated Fair Values (Estimated Fair Values For Certain Financial Assets And Financial Liabilities) (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Cash and due from banks | $ 284,147 | $ 327,440 |
Overnight investments | 1,640,264 | 797,406 |
Investment securities held to maturity | 2,218,048 | 2,184,653 |
Investment in marketable equity securities | 111,489 | 92,599 |
Loans held for sale | 52,837 | 45,505 |
Loans and Leases Receivable, Net Amount | 26,501,654 | 25,299,564 |
Income earned not collected | 115,303 | 109,903 |
Mortgage servicing rights | 20,665 | 20,647 |
Deposits | 32,719,671 | 30,672,460 |
Securities sold under customer repurchase agreements | 544,527 | 543,936 |
Federal Home Loan Bank borrowings | 197,131 | 193,556 |
FDIC shared-loss payable | 108,892 | 105,618 |
Carrying Value | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Cash and due from banks | 284,147 | 327,440 |
Overnight investments | 1,640,264 | 797,406 |
Debt Securities, Available-for-sale | 4,366,041 | 4,557,110 |
Investment securities held to maturity | 2,218,048 | 2,184,653 |
Investment in marketable equity securities | 111,489 | 92,599 |
Loans held for sale | 52,837 | 45,505 |
Loans and Leases Receivable, Net Amount | 26,501,654 | 25,299,564 |
Income earned not collected | 115,303 | 109,903 |
Stock issued by Federal Home Loan Bank | 25,545 | 25,304 |
Mortgage servicing rights | 22,809 | 24,066 |
Deposits | 32,719,671 | 30,672,460 |
Securities sold under customer repurchase agreements | 544,527 | 543,936 |
Federal Home Loan Bank borrowings | 197,131 | 193,556 |
Short-term borrowings | 154,277 | 140,741 |
Long-term obligations | 18,446 | 13,921 |
FDIC shared-loss payable | 108,892 | 105,618 |
Accrued interest payable | 14,197 | 3,712 |
Fair Value | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Cash and due from banks | 284,147 | 327,440 |
Overnight investments | 1,640,264 | 797,406 |
Debt Securities, Available-for-sale | 4,366,041 | 4,557,110 |
Investment securities held to maturity | 2,285,283 | 2,201,502 |
Investment in marketable equity securities | 111,489 | 92,599 |
Loans held for sale | 52,837 | 45,505 |
Loans and Leases Receivable, Net Amount | 26,791,041 | 24,845,060 |
Income earned not collected | 115,303 | 109,903 |
Stock issued by Federal Home Loan Bank | 25,545 | 25,304 |
Mortgage servicing rights | 25,129 | 27,435 |
Deposits | 31,461,196 | 30,623,214 |
Securities sold under customer repurchase agreements | 544,527 | 543,936 |
Federal Home Loan Bank borrowings | 203,464 | 195,374 |
Short-term borrowings | 166,374 | 151,670 |
Long-term obligations | 18,625 | 13,985 |
FDIC shared-loss payable | 111,298 | 105,846 |
Accrued interest payable | $ 14,197 | $ 3,712 |
Estimated Fair Values (Assets A
Estimated Fair Values (Assets And Liabilities Carried At Fair Value On A Recurring Basis) (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment securities available for sale | $ 4,366,041 | $ 4,557,110 |
Investment in marketable equity securities | 111,489 | 92,599 |
Fair Value, Measurements, Recurring | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment securities available for sale | 4,366,041 | 4,557,110 |
Investment in marketable equity securities | 111,489 | |
Loans held for sale | 52,837 | 45,505 |
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 | 0 |
Investment in marketable equity securities | 24,991 | |
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 | 4,216,904 | 4,413,884 |
Investment in marketable equity securities | 86,498 | |
Loans held for sale | 52,837 | 45,505 |
Fair Value, Measurements, Recurring | Significant Unobservable Inputs (Level 3 Inputs) | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment securities available for sale | 149,137 | 143,226 |
Investment in marketable equity securities | 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 | 948,402 | 1,247,710 |
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 | 948,402 | 1,247,710 |
Fair Value, Measurements, Recurring | U.S. Treasury | Significant Unobservable Inputs (Level 3 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 | Agency Securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment securities available for sale | 534,804 | 256,835 |
Fair Value, Measurements, Recurring | Agency 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 | Agency 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 | 534,804 | 256,835 |
Fair Value, Measurements, Recurring | Agency Securities | Significant Unobservable Inputs (Level 3 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 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment securities available for sale | 2,733,698 | 2,909,339 |
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 | 2,733,698 | 2,909,339 |
Fair Value, Measurements, Recurring | Mortgage Backed Securities | Significant Unobservable Inputs (Level 3 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 | Equity Securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment securities available for sale | 92,599 | |
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 | |
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 | |
Fair Value, Measurements, Recurring | Equity Securities | Significant Unobservable Inputs (Level 3 Inputs) | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment securities available for sale | 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 | 149,137 | 143,226 |
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 | 0 |
Fair Value, Measurements, Recurring | Corporate Bonds | Significant Unobservable Inputs (Level 3 Inputs) | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment securities available for sale | $ 149,137 | $ 143,226 |
Estimated Fair Values (Assets_2
Estimated Fair Values (Assets and Liabilities Carried at Fair Value on a Recurring Basis Significant Unobservable Inputs) (Details) - USD ($) $ in Thousands | 3 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Dec. 31, 2018 | |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Liability, Transfers Into Level 3 | $ 0 | $ 0 | |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | |||
Investment securities available for sale | $ 4,366,041 | $ 4,557,110 |
Estimated Fair Values (Assets_3
Estimated Fair Values (Assets And Liabilities Carried At Fair Value On A Nonrecurring Basis) (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 | Jun. 30, 2018 | Dec. 31, 2017 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Other real estate remeasured during current year | $ 46,236 | $ 48,030 | $ 46,633 | $ 51,097 |
Mortgage servicing rights | 20,665 | 20,647 | ||
Fair Value, Measurements, Nonrecurring | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Impaired loans | 120,783 | 105,994 | ||
Other real estate remeasured during current year | 20,079 | 35,344 | ||
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 | 0 | 0 | ||
Other real estate remeasured during current year | 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 | 0 | 0 | ||
Other real estate remeasured during current year | 0 | 0 | ||
Fair Value, Measurements, Nonrecurring | Significant Unobservable Inputs (Level 3 Inputs) | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Impaired loans | 120,783 | 105,994 | ||
Other real estate remeasured during current year | $ 20,079 | $ 35,344 |
Estimated Fair Values (Fair Val
Estimated Fair Values (Fair Value Option) (Details) - USD ($) $ in Thousands | 3 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Dec. 31, 2018 | |
Fair Value, Option, Quantitative Disclosures [Line Items] | |||
Gains (Losses) from fair value changes on originated loans held for sale | $ (82) | $ 700 | |
Loans Held For Sale | |||
Fair Value, Option, Quantitative Disclosures [Line Items] | |||
Fair value of originated loans held for sale | 52,837 | $ 45,505 | |
Aggregate unpaid principle balance of originated loans held for sale | 51,237 | 44,073 | |
Difference between fair value and aggregate unpaid principle balance of originated loans held for sale | $ 1,600 | $ 1,432 |
Estimated Fair Values (Narrativ
Estimated Fair Values (Narrative) (Details) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019USD ($) | Jun. 30, 2018USD ($) | Jun. 30, 2018USD ($) | Dec. 31, 2018USD ($) | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Liability, Transfers Into Level 3 | $ 0 | $ 0 | ||
Gains (Losses) from fair value changes on originated loans held for sale | (82) | $ 700 | ||
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 | $ 0 | ||
Corporate bonds | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Liability, Transfers Into Level 3 | $ 65,300 | |||
Discount Rate | Minimum | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Loans held-for-sale, measurement input | 0.06 | |||
OREO, measurement input | 0.06 | |||
Discount Rate | Maximum | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Loans held-for-sale, measurement input | 0.11 | |||
OREO, measurement input | 0.11 | |||
Effective Interest Rate | Minimum | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Loans held-for-sale, measurement input | 0.02 | |||
Effective Interest Rate | Maximum | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Loans held-for-sale, measurement input | 0.18 |
Employee Benefit Plans (Compone
Employee Benefit Plans (Components Of Pension Expense) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
BancShares Plan | ||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ||||
Service cost | $ 2,690 | $ 3,362 | $ 5,258 | $ 6,791 |
Interest cost | 7,581 | 7,131 | 15,112 | 14,188 |
Expected return on assets | (12,886) | (11,976) | (25,753) | (23,933) |
Amortization of prior service cost | 14 | 20 | 28 | 40 |
Amortization of net actuarial loss | 2,084 | 3,548 | 4,198 | 6,794 |
Total pension expense | (517) | 2,085 | (1,157) | 3,880 |
Bancorporation Plan | ||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ||||
Service cost | 581 | 624 | 1,126 | 1,286 |
Interest cost | 1,757 | 1,592 | 3,517 | 3,179 |
Expected return on assets | (2,775) | (3,110) | (5,543) | (6,216) |
Amortization of net actuarial loss | 637 | 86 | 1,264 | 157 |
Total pension expense | $ 200 | $ (808) | $ 364 | $ (1,594) |
Employee Benefit Plans (Narrati
Employee Benefit Plans (Narrative) (Details) - USD ($) $ in Millions | 1 Months Ended | 3 Months Ended | 6 Months Ended |
Jul. 31, 2019 | Jun. 30, 2019 | Jun. 30, 2019 | |
BancShares Plan | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Expected employer contributions in current year | $ 0 | $ 0 | |
Defined Benefit Plan, Plan Assets, Contributions by Employer | 0 | 0 | |
Bancorporation Plan | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plan Assets, Contributions by Employer | $ 0 | $ 0 | |
Subsequent Event | BancShares Plan | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Contribution Plan, Employer Discretionary Contribution Amount | $ 3.5 |
Commitments and Contingencies_2
Commitments and Contingencies (Details) $ in Thousands | Jun. 30, 2019USD ($)Advances | Dec. 31, 2018USD ($) |
Guarantor Obligations [Line Items] | ||
FDIC shared-loss payable | $ 108,892 | $ 105,618 |
Number Of Federal Home Loan Bank Advances | Advances | ||
Standby Letters of Credit | ||
Guarantor Obligations [Line Items] | ||
Guarantor Obligations, Maximum Exposure, Undiscounted | $ 170,300 | 147,300 |
Commitments to Extend Credit | ||
Guarantor Obligations [Line Items] | ||
Unused Commitments to Extend Credit | 10,348,284 | 10,054,712 |
Qualified Affordable Housing Project Investments, Commitment | 94,307 | 96,467 |
Qualified Affordable Housing Project Investments | $ 80,383 | $ 67,952 |
Accumulated Other Comprehensi_3
Accumulated Other Comprehensive Income (Loss) (Schedule Of Accumulated Other Comprehensive Income) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||||||||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | Mar. 31, 2019 | Jan. 01, 2019 | Dec. 31, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | ||
Accumulated Other Comprehensive Income (Loss), before Tax | $ (234,716) | $ (234,716) | $ (305,438) | |||||||
Deferred tax expense (benefit) | (53,985) | (53,985) | (70,251) | |||||||
Accumulated other comprehensive income (loss), net of tax | (180,731) | $ (244,638) | (180,731) | $ (244,638) | $ (206,860) | $ (172,345) | (235,187) | $ (230,323) | $ (122,294) | |
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax | (2,281) | (6,259) | (8,993) | (8,828) | ||||||
Amortization of actuarial losses and prior service cost | (2,721) | (3,634) | (5,462) | (6,951) | ||||||
Other Comprehensive (Income) Loss, Defined Benefit Plan, Reclassification Adjustment from AOCI, before Tax | 2,735 | 3,654 | 5,490 | 6,991 | ||||||
Unrealized Losses on Investment Securities Available for Sale | ||||||||||
Accumulated Other Comprehensive Income (Loss), before Tax | 3,316 | 3,316 | (50,007) | |||||||
Deferred tax expense (benefit) | 762 | 762 | (11,502) | |||||||
Accumulated other comprehensive income (loss), net of tax | [1] | 2,554 | (57,496) | 2,554 | (57,496) | (16,890) | (60,696) | (38,505) | (121,243) | (30,945) |
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax | [1] | 4,404 | 0 | 4,404 | 0 | |||||
Unrealized Losses On Securities Available For Sale Transferred To Held To Maturity | ||||||||||
Accumulated Other Comprehensive Income (Loss), before Tax | (80,492) | (80,492) | (92,401) | |||||||
Deferred tax expense (benefit) | (18,513) | (18,513) | (21,252) | |||||||
Accumulated other comprehensive income (loss), net of tax | [1] | (61,979) | (80,876) | (61,979) | (80,876) | (66,558) | 0 | (71,149) | 0 | 0 |
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax | [1] | (4,579) | (3,445) | (9,170) | (3,445) | |||||
Funded Status of Defined Benefit Plan | ||||||||||
Accumulated Other Comprehensive Income (Loss), before Tax | (157,540) | (157,540) | (163,030) | |||||||
Deferred tax expense (benefit) | (36,234) | (36,234) | (37,497) | |||||||
Accumulated other comprehensive income (loss), net of tax | [1] | (121,306) | (106,266) | (121,306) | (106,266) | $ (123,412) | $ (111,649) | $ (125,533) | $ (109,080) | $ (91,349) |
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax | [1] | $ (2,106) | $ (2,814) | $ (4,227) | $ (5,383) | |||||
[1] | All amounts are net of tax. Amounts in parentheses indicate debits. |
Accumulated Other Comprehensi_4
Accumulated Other Comprehensive Income (Loss) (Components of AOCI) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | Jan. 01, 2019 | ||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||||
Beginning balance | $ (206,860) | $ (230,323) | $ (235,187) | $ (122,294) | ||
Cumulative effect of new accounting principle in period of adoption | $ (50,051) | |||||
Net unrealized gains arising during period | 23,848 | (20,574) | 45,463 | (81,121) | ||
Amounts reclassified from accumulated other comprehensive loss | 2,281 | 6,259 | 8,993 | 8,828 | ||
Net current period other comprehensive income | 26,129 | (14,315) | 54,456 | (72,293) | ||
Ending balance | (180,731) | (244,638) | (180,731) | (244,638) | ||
Unrealized Losses on Investment Securities Available for Sale | ||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||||
Beginning balance | [1] | (16,890) | (121,243) | (38,505) | (30,945) | |
Cumulative effect of new accounting principle in period of adoption | [1] | (29,751) | ||||
Net unrealized gains arising during period | [1] | 23,848 | 63,747 | 45,463 | 3,200 | |
Amounts reclassified from accumulated other comprehensive loss | [1] | (4,404) | 0 | (4,404) | 0 | |
Net current period other comprehensive income | [1] | 19,444 | 63,747 | 41,059 | 3,200 | |
Ending balance | [1] | 2,554 | (57,496) | 2,554 | (57,496) | |
Unrealized Losses On Securities Available For Sale Transferred To Held To Maturity | ||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||||
Beginning balance | [1] | (66,558) | 0 | (71,149) | 0 | |
Cumulative effect of new accounting principle in period of adoption | [1] | 0 | ||||
Net unrealized gains arising during period | [1] | 0 | (84,321) | 0 | (84,321) | |
Amounts reclassified from accumulated other comprehensive loss | [1] | 4,579 | 3,445 | 9,170 | 3,445 | |
Net current period other comprehensive income | [1] | 4,579 | (80,876) | 9,170 | (80,876) | |
Ending balance | [1] | (61,979) | (80,876) | (61,979) | (80,876) | |
Defined Benefit Pension Items | ||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||||
Beginning balance | [1] | (123,412) | (109,080) | (125,533) | (91,349) | |
Cumulative effect of new accounting principle in period of adoption | [1] | $ (20,300) | ||||
Net unrealized gains arising during period | [1] | 0 | 0 | 0 | 0 | |
Amounts reclassified from accumulated other comprehensive loss | [1] | 2,106 | 2,814 | 4,227 | 5,383 | |
Net current period other comprehensive income | [1] | 2,106 | 2,814 | 4,227 | 5,383 | |
Ending balance | [1] | $ (121,306) | $ (106,266) | $ (121,306) | $ (106,266) | |
[1] | All amounts are net of tax. Amounts in parentheses indicate debits. |
Accumulated Other Comprehensi_5
Accumulated Other Comprehensive Income (Loss) (Reclassifications out of AOCI) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | ||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||||
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Sale of Securities, before Tax | $ 5,719 | $ 0 | $ 5,719 | $ 0 | |
Amortization of actuarial losses and prior service cost | (2,721) | (3,634) | (5,462) | (6,951) | |
Total before taxes | (2,735) | (3,654) | (5,490) | (6,991) | |
Amounts reclassified from accumulated other comprehensive income, net of tax | 2,281 | 6,259 | 8,993 | 8,828 | |
Other Comprehensive (Income) Loss, Defined Benefit Plan, Prior Service Cost (Credit), Reclassification Adjustment from AOCI, before Tax | (14) | (20) | (28) | (40) | |
Other Comprehensive (Income) Loss, Defined Benefit Plan, Reclassification Adjustment from AOCI, Tax | 629 | 840 | 1,263 | 1,608 | |
Other Comprehensive (Income) Loss, Defined Benefit Plan, Reclassification Adjustment from AOCI, after Tax | (2,106) | (2,814) | (4,227) | (5,383) | |
Other Comprehensive Income (Loss) Reclassification Adjustment Of Unrealized Losses From AOCI For Securities Available For Sale Transferred To Held To Maturity Before Tax | (5,947) | (4,473) | (11,909) | (4,473) | |
Other Comprehensive Income (Loss) Reclassification Adjustment Of Unrealized Losses From AOCI For Securities Available For Sale Transferred To Held To Maturity Tax | 1,368 | 1,028 | 2,739 | 1,028 | |
Other Comprehensive Income (Loss) Reclassification Adjustment Of Unrealized Losses From AOCI For Securities Available For Sale Transferred To Held To Maturity Net Of Tax | (4,579) | (3,445) | (9,170) | (3,445) | |
Tax effect | 1,315 | 0 | 1,315 | 0 | |
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Sale of Securities, Net of Tax | 4,404 | 4,404 | |||
Unrealized Losses on Investment Securities Available for Sale | |||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||||
Amounts reclassified from accumulated other comprehensive income, net of tax | [1] | (4,404) | 0 | (4,404) | 0 |
Defined Benefit Pension Items | |||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||||
Amounts reclassified from accumulated other comprehensive income, net of tax | [1] | $ 2,106 | $ 2,814 | $ 4,227 | $ 5,383 |
[1] | All amounts are net of tax. Amounts in parentheses indicate debits. |
Leases (Narrative) (Details)
Leases (Narrative) (Details) | Jun. 30, 2019 |
Minimum | |
Lessee, Lease, Description [Line Items] | |
Renewal terms | 1 year |
Maximum | |
Lessee, Lease, Description [Line Items] | |
Renewal terms | 25 years |
Leases (Operating and Finance L
Leases (Operating and Finance Lease Assets and Liabilities) (Details) $ in Thousands | 6 Months Ended |
Jun. 30, 2019USD ($) | |
Leases [Abstract] | |
Asset, operating | $ 81,534 |
Asset, finance | 8,098 |
Total leased assets | 89,632 |
Present value of lease liabilities | 80,562 |
Present value of lease liabilities | 7,459 |
Total lease liabilities | 88,021 |
Operating lease, fair value adjustment | 1,100 |
Accumulated deprecation on finance leases | $ 447 |
Leases (Net Lease Cost) (Detail
Leases (Net Lease Cost) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended |
Jun. 30, 2019 | Jun. 30, 2019 | |
Leases [Abstract] | ||
Operating lease cost | $ 3,581 | $ 6,785 |
Amortization of leased assets | 446 | 893 |
Interest on lease liabilities | 62 | 127 |
Variable lease cost | 724 | 1,252 |
Sublease income | (86) | (216) |
Net lease cost | $ 4,727 | $ 8,841 |
Leases (Lease Liability Maturit
Leases (Lease Liability Maturities) (Details) $ in Thousands | Jun. 30, 2019USD ($) |
Operating Leases | |
2019 | $ 7,267 |
2020 | 13,693 |
2021 | 12,129 |
2022 | 10,763 |
2023 | 8,908 |
Thereafter | 42,606 |
Total lease payments | 95,366 |
Less: Interest | 14,804 |
Present value of lease liabilities | 80,562 |
Finance Leases | |
2019 | 870 |
2020 | 1,748 |
2021 | 1,764 |
2022 | 1,481 |
2023 | 599 |
Thereafter | 1,683 |
Total lease payments | 8,145 |
Less: Interest | 686 |
Present value of lease liabilities | 7,459 |
Total | |
2019 | 8,137 |
2020 | 15,441 |
2021 | 13,893 |
2022 | 12,244 |
2023 | 9,507 |
Thereafter | 44,289 |
Total lease payments | 103,511 |
Less: Interest | 15,490 |
Present value of lease liabilities | $ 88,021 |
Leases (Remaining Weighted Aver
Leases (Remaining Weighted Average Lease Terms and Discounts Rates) (Details) | Jun. 30, 2019 |
Leases [Abstract] | |
Weighted average remaining lease term, operating | 9 years 8 months 12 days |
Weighted average remaining lease term, finance | 5 years 2 months 12 days |
Weighted average discount rate, operating | 3.26% |
Weighted average discount rate, finance | 3.23% |
Leases (Supplemental Cash Flow
Leases (Supplemental Cash Flow Information) (Details) $ in Thousands | 6 Months Ended |
Jun. 30, 2019USD ($) | |
Leases [Abstract] | |
Operating cash flows from operating leases | $ 6,613 |
Operating cash flows from finance leases | 127 |
Financing cash flows from finance leases | 735 |
Right-of-use assets obtained in exchange for new operating lease liabilities | 15,162 |
Right-of-use assets obtained in exchange for new finance lease liabilities | $ 0 |