Document And Entity Information
Document And Entity Information - shares | 9 Months Ended | |
Sep. 30, 2019 | Nov. 01, 2019 | |
Document Information [Line Items] | ||
Document Transition Report | false | |
Document Quarterly Report | true | |
Title of 12(b) Security | Common shares, without par value | |
Security Exchange Name | NYSEAMER | |
City Area Code | (740) | |
Entity Address, Address Line One | 50 North Third Street, | |
Entity File Number | 1-13006 | |
Entity Address, State or Province | OH | |
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Sep. 30, 2019 | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Shell Company | false | |
Document Fiscal Year Focus | 2019 | |
Document Fiscal Period Focus | Q3 | |
Entity Registrant Name | PARK NATIONAL CORPORATION | |
Entity Central Index Key | 0000805676 | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Large Accelerated Filer | |
Entity Small Business | false | |
Entity Emerging Growth Company | false | |
Entity Common Stock, Shares Outstanding | 16,346,446 | |
Trading Symbol | PRK | |
Entity Tax Identification Number | 31-1179518 | |
Entity Address, Address Line Two | P.O. Box 3500 | |
Entity Address, City or Town | Newark, | |
Entity Address, State or Province | OH | |
Entity Address, Postal Zip Code | 43058-3500 | |
Local Phone Number | 349-8451 |
Consolidated Condensed Balance
Consolidated Condensed Balance Sheets (Unaudited) - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 |
Assets: | ||
Cash and due from banks | $ 190,353 | $ 141,890 |
Money market instruments | 182,373 | 25,324 |
Cash and cash equivalents | 372,726 | 167,214 |
Investment securities: | ||
Debt Securities, Available-for-sale, Current | 1,260,286 | 1,003,421 |
Debt securities held-to-maturity, at amortized cost (fair value of $351,422 at December 31, 2018) | 351,808 | |
Other Investments and Securities, at Cost | 68,644 | 72,916 |
Alternative Investment | 15,989 | 17,065 |
Total investment securities | 1,328,930 | 1,428,145 |
Loan balance | 6,403,647 | 5,692,132 |
Allowance for loan losses | (55,853) | (51,512) |
Net loans | 6,347,794 | 5,640,620 |
Bank owned life insurance | 208,594 | 188,417 |
Prepaid assets | 99,939 | 94,079 |
Goodwill | 157,999 | 112,739 |
Other intangible assets | 15,490 | 6,971 |
Intangible Assets, Net (Including Goodwill) | 173,489 | 119,710 |
Premises and equipment, net | 72,779 | 59,771 |
Affordable housing tax credit investments | 54,909 | 50,347 |
Other real estate owned | 3,779 | 4,303 |
Interest Receivable | 24,721 | 22,974 |
Operating Lease, Right-of-Use Asset | 14,412 | 0 |
Mortgage loan servicing rights | 9,960 | 10,178 |
Other | 11,578 | 18,550 |
Total assets | 8,723,610 | 7,804,308 |
Liabilities and Shareholders' Equity: | ||
Noninterest bearing | 1,941,694 | 1,804,881 |
Interest bearing | 5,226,565 | 4,455,979 |
Total deposits | 7,168,259 | 6,260,860 |
Short-term borrowings | 185,838 | 221,966 |
Long-term debt | 297,500 | 400,000 |
Subordinated debentures and notes | 15,000 | 15,000 |
Unfunded commitments in affordable housing tax credit investments | 28,439 | 22,282 |
Operating Lease, Liability | 15,191 | 0 |
Accrued interest payable | 3,254 | 2,625 |
Other | 53,989 | 49,069 |
Total liabilities | 7,767,470 | 6,971,802 |
Shareholders' equity: | ||
Preferred shares (200,000 shares authorized; 0 shares issued) | 0 | 0 |
Common shares (No par value; 20,000,000 shares authorized; 17,623,208 shares issued at September 30, 2019 and 16,586,165 shares issued at December 31, 2018) | 458,142 | 358,598 |
Retained earnings | 639,594 | 614,069 |
Treasury shares (1,290,257 shares at September 30, 2019 and 887,987 shares at December 31, 2018) | (128,982) | (90,373) |
Accumulated other comprehensive loss, net of taxes | (12,614) | (49,788) |
Total shareholders' equity | 956,140 | 832,506 |
Total liabilities and shareholders' equity | $ 8,723,610 | $ 7,804,308 |
Consolidated Condensed Balanc_2
Consolidated Condensed Balance Sheets (Parenthetical) - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 |
Debt Securities, Available-for-sale, Amortized Cost | $ 1,237,990 | $ 1,028,883 |
Securities held-to-maturity, fair value | $ 351,422 | |
Preferred Stock, Shares Authorized | 200,000 | 200,000 |
Preferred Stock, Shares Issued | 0 | 0 |
Common stock no par value | $ 0 | $ 0 |
Common stock shares authorized | 20,000,000 | 20,000,000 |
Common Stock, Shares, Issued | 17,623,208 | 16,586,165 |
Treasury stock shares | 1,290,257 | 887,987 |
Consolidated Condensed Statemen
Consolidated Condensed Statements Of Income - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Interest and dividend income: | ||||
Interest and fees on loans | $ 84,213 | $ 69,905 | $ 238,687 | $ 198,803 |
Interest and dividends on: | ||||
Obligations of U.S. Government, its agencies and other securities | 6,326 | 7,691 | 20,240 | 22,204 |
Interest Income, Securities, State and Municipal | 2,225 | 2,205 | 6,750 | 6,557 |
Other interest income | 1,825 | 428 | 2,994 | 1,070 |
Total interest and dividend income | 94,589 | 80,229 | 268,671 | 228,634 |
Interest on deposits: | ||||
Demand and savings deposits | 9,649 | 6,412 | 25,553 | 13,809 |
Time deposits | 4,694 | 3,328 | 12,828 | 8,765 |
Interest on borrowings: | ||||
Short-term borrowings | 478 | 288 | 1,977 | 1,283 |
Long-term debt | 2,667 | 2,525 | 7,585 | 7,509 |
Total interest expense | 17,488 | 12,553 | 47,943 | 31,366 |
Net interest income | 77,101 | 67,676 | 220,728 | 197,268 |
Provision for loan losses | 1,967 | 2,940 | 6,384 | 4,586 |
Net interest income after provision for loan losses | 75,134 | 64,736 | 214,344 | 192,682 |
Noninterest Income [Abstract] | ||||
Debit card fee income | 5,313 | 4,352 | 14,909 | 12,736 |
Bank owned life insurance income | 1,107 | 2,585 | 3,399 | 4,625 |
ATM Fees | 482 | 500 | 1,382 | 1,534 |
OREO valuation adjustments | (41) | (77) | (123) | (398) |
Gain on sale of OREO, net | (53) | (81) | (224) | 4,093 |
Gain (Loss) on Sale of Investments | 186 | 0 | (421) | (2,271) |
Gain on equity securities, net | 3,335 | 89 | 5,309 | 4,633 |
Other components of net periodic benefit income | 1,183 | 1,705 | 3,549 | 5,115 |
Other | 2,658 | 2,466 | 5,493 | 5,164 |
Total other income | 28,136 | 24,064 | 72,969 | 74,209 |
Other expense: | ||||
Salaries and employee benefits | 30,713 | 27,229 | 88,611 | 76,652 |
Employee Benefits and Share-based Compensation | 10,389 | 7,653 | 27,833 | 22,312 |
Occupancy expense | 3,226 | 2,976 | 9,460 | 8,482 |
Furniture and equipment expense | 4,177 | 3,807 | 12,713 | 11,969 |
Data processing fees | 2,935 | 2,580 | 7,973 | 6,255 |
Professional fees and services | 6,702 | 8,065 | 22,814 | 20,378 |
Marketing | 1,604 | 1,364 | 4,285 | 3,767 |
Insurance | 276 | 1,388 | 2,813 | 4,012 |
Communication | 1,387 | 1,207 | 4,095 | 3,646 |
Excise and Sales Taxes | 746 | 1,000 | 2,805 | 3,063 |
Amortization of Intangible Assets | 741 | 289 | 1,732 | 289 |
Other expense | 2,842 | 1,758 | 7,623 | 5,333 |
Total other expense | 65,738 | 59,316 | 192,757 | 166,158 |
Income before income taxes | 37,532 | 29,484 | 94,556 | 100,733 |
Income taxes | 6,386 | 4,722 | 15,792 | 16,607 |
Net income | 31,146 | 24,762 | 78,764 | 84,126 |
Net income available to common shareholders | $ 31,146 | $ 24,762 | $ 78,764 | $ 84,126 |
Net income available to common shareholders | ||||
Basic | $ 1.90 | $ 1.58 | $ 4.86 | $ 5.46 |
Diluted | $ 1.89 | $ 1.56 | $ 4.84 | $ 5.41 |
Weighted average common shares outstanding | ||||
Basic | 16,382,798 | 15,686,542 | 16,198,294 | 15,420,135 |
Diluted | 16,475,741 | 15,832,734 | 16,287,695 | 15,560,666 |
Cash dividends declared | $ 1.01 | $ 0.96 | $ 3.23 | $ 3.11 |
Fiduciary and Trust [Member] | ||||
Noninterest Income [Abstract] | ||||
Revenue from Contract with Customer, Including Assessed Tax | $ 6,842 | $ 6,418 | $ 20,500 | $ 19,479 |
Deposit Account [Member] | ||||
Noninterest Income [Abstract] | ||||
Revenue from Contract with Customer, Including Assessed Tax | 2,864 | 2,861 | 8,078 | 8,609 |
Bank Servicing [Member] | ||||
Noninterest Income [Abstract] | ||||
Revenue from Contract with Customer, Including Assessed Tax | $ 4,260 | $ 3,246 | $ 11,118 | $ 10,890 |
Consolidated Condensed Statem_2
Consolidated Condensed Statements of Comprehensive Income - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Net Income | $ 31,146 | $ 24,762 | $ 78,764 | $ 84,126 |
Other comprehensive income, net of tax: | ||||
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Sale of Securities, Net of Tax | (147) | 0 | 333 | 2,024 |
Other Comprehensive Income (Loss), Transfers from Held-to-maturity to Available-for-Sale Securities, Net of Tax | 19,095 | 0 | 19,095 | 0 |
Unrealized net holding (loss) gain on debt securities available-for-sale, net of income tax effect of $(1,385) and $(1,364) for the three months ended September 30, 2019 and 2018, respectively and $4,864 and $(8,217) for the nine months ended September 30, 2019 and 2018, respectively | (5,206) | (5,141) | 18,302 | (30,919) |
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification, after Tax | (49) | 0 | (556) | 0 |
Other comprehensive income (loss) | 13,693 | (5,141) | 37,174 | (28,895) |
Comprehensive income | 44,839 | 19,621 | $ 115,938 | $ 55,231 |
Accumulated Other Comprehensive Income (loss) [Member] | ||||
Other comprehensive income, net of tax: | ||||
Other comprehensive income (loss) | $ 13,693 | $ (5,141) |
Consolidated Condensed Statem_3
Consolidated Condensed Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Statement of Comprehensive Income [Abstract] | ||||
Other Comprehensive Income (Loss), Securities, Available-for-Sale, Unrealized Holding Gain (Loss) Arising During Period, Tax | $ (1,385) | $ (1,364) | $ 4,864 | $ (8,217) |
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Sale of Securities, Tax | (39) | 88 | 538 | |
Other Comprehensive Income (Loss), Transfers from Held-to-maturity to Available-for-Sale Securities, Tax | 5,076 | 0 | 5,076 | 0 |
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification, Tax | $ (13) | $ 0 | $ (148) | $ 0 |
Consolidated Condensed Statem_4
Consolidated Condensed Statements Of Changes In Stockholders' Equity - USD ($) $ in Thousands | Total | Preferred Stock [Member] | Common Stock [Member] | Retained Earnings [Member] | Treasury Stock At Cost [Member] | Accumulated Other Comprehensive Income (loss) [Member] |
Cumulative Effect of New Accounting Principle in Period of Adoption | Adjustments for New Accounting Pronouncement [Member] | $ 3,806 | $ (3,806) | ||||
New Accounting Pronouncement or Change in Accounting Principle, Cumulative Effect of Change on Equity or Net Assets | $ 995 | 3,806 | ||||
New Accounting Pronouncement or Change in Accounting Principle, Cumulative Effect of Change on Equity or Net Assets | Accounting Standards Update 2016-01 [Member] | (1,917) | 995 | ||||
Balance at Dec. 31, 2017 | $ 0 | $ 307,726 | 561,908 | $ (87,079) | (26,454) | |
Balance (Accounting Standards Update 2016-01 [Member]) at Dec. 31, 2017 | 0 | 307,726 | 563,825 | (87,079) | (27,449) | |
Net Income | 31,123 | |||||
Other comprehensive income (loss) | (21,386) | |||||
Dividends on common shares | (14,496) | |||||
Cash payment for fractional shares in dividend reinvestment plan | (1) | |||||
Stock Issued During Period, Value, Restricted Stock Award, Net of Forfeitures | (1,597) | (317) | (1,304) | |||
Share-based Payment Arrangement, Expense | 1,121 | |||||
Balance at Mar. 31, 2018 | 0 | 307,249 | 583,941 | (85,775) | (52,641) | |
Balance at Dec. 31, 2017 | 0 | 307,726 | 561,908 | (87,079) | (26,454) | |
Balance (Accounting Standards Update 2016-01 [Member]) at Dec. 31, 2017 | 0 | 307,726 | 563,825 | (87,079) | (27,449) | |
Net Income | 84,126 | |||||
Other comprehensive income (loss) | (28,895) | |||||
Share-based Payment Arrangement, Expense | 3,100 | |||||
Balance at Sep. 30, 2018 | 0 | 357,709 | 603,091 | (91,559) | (60,150) | |
Balance at Mar. 31, 2018 | 0 | 307,249 | 583,941 | (85,775) | (52,641) | |
Net Income | 28,241 | |||||
Other comprehensive income (loss) | (2,368) | |||||
Dividends on common shares | (18,670) | |||||
Cash payment for fractional shares in dividend reinvestment plan | (1) | |||||
Share-based Payment Arrangement, Expense | 896 | |||||
Treasury Stock, Value, Acquired, Cost Method | 5,784 | |||||
Balance at Jun. 30, 2018 | 0 | 308,144 | 593,512 | (91,559) | (55,009) | |
Net Income | 24,762 | 24,762 | ||||
Other comprehensive income (loss) | (5,141) | (5,141) | ||||
Dividends on common shares | (15,183) | |||||
Cash payment for fractional shares in dividend reinvestment plan | (1) | |||||
Share-based Payment Arrangement, Expense | 1,000 | 1,047 | ||||
Proceeds from Issuance of Common Stock | 48,519 | |||||
Balance at Sep. 30, 2018 | 0 | 357,709 | 603,091 | (91,559) | (60,150) | |
New Accounting Pronouncement or Change in Accounting Principle, Cumulative Effect of Change on Equity or Net Assets | 143 | |||||
Balance at Dec. 31, 2018 | 832,506 | 0 | 358,598 | 614,069 | (90,373) | (49,788) |
Balance (Adjustments for New Accounting Pronouncement [Member]) at Dec. 31, 2018 | 613,926 | |||||
Net Income | 25,455 | |||||
Other comprehensive income (loss) | 14,335 | |||||
Dividends on common shares | (19,137) | |||||
Cash payment for fractional shares in dividend reinvestment plan | (1) | |||||
Stock Issued During Period, Value, Restricted Stock Award, Net of Forfeitures | (2,480) | (273) | (1,926) | |||
Share-based Payment Arrangement, Expense | 1,358 | |||||
Treasury Stock, Value, Acquired, Cost Method | 8,502 | |||||
Balance at Mar. 31, 2019 | 0 | 357,475 | 619,971 | (96,949) | (35,453) | |
Balance at Dec. 31, 2018 | 832,506 | 0 | 358,598 | 614,069 | (90,373) | (49,788) |
Balance (Adjustments for New Accounting Pronouncement [Member]) at Dec. 31, 2018 | 613,926 | |||||
Net Income | 78,764 | |||||
Other comprehensive income (loss) | 37,174 | |||||
Share-based Payment Arrangement, Expense | 3,800 | |||||
Balance at Sep. 30, 2019 | 956,140 | 0 | 458,142 | 639,594 | (128,982) | (12,614) |
Balance at Mar. 31, 2019 | 0 | 357,475 | 619,971 | (96,949) | (35,453) | |
Net Income | 22,163 | |||||
Other comprehensive income (loss) | 9,146 | |||||
Dividends on common shares | (16,907) | |||||
Cash payment for fractional shares in dividend reinvestment plan | (1) | |||||
Share-based Payment Arrangement, Expense | 1,162 | |||||
Treasury Stock, Value, Acquired, Cost Method | 24,450 | |||||
Proceeds from Issuance of Common Stock | 98,275 | |||||
Balance at Jun. 30, 2019 | 0 | 456,911 | 625,227 | (121,399) | (26,307) | |
Net Income | 31,146 | 31,146 | ||||
Other comprehensive income (loss) | 13,693 | 13,693 | ||||
Dividends on common shares | (16,779) | |||||
Cash payment for fractional shares in dividend reinvestment plan | (1) | |||||
Share-based Payment Arrangement, Expense | 1,200 | 1,232 | ||||
Treasury Stock, Value, Acquired, Cost Method | 7,583 | |||||
Balance at Sep. 30, 2019 | $ 956,140 | $ 0 | $ 458,142 | $ 639,594 | $ (128,982) | $ (12,614) |
Consolidated Condensed Statem_5
Consolidated Condensed Statements Of Changes In Stockholders' Equity (Parenthetical) - $ / shares | 3 Months Ended | 9 Months Ended | ||||||
Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Statement of Stockholders' Equity [Abstract] | ||||||||
Common Stock, Dividends, Per Share, Cash Paid | $ 1.01 | $ 1.01 | $ 1.21 | $ 0.96 | $ 1.21 | $ 0.94 | ||
Stock Issued During Period, Shares, Acquisitions | 0 | 1,037,205 | 0 | 435,457 | 0 | 0 | 1,037,205 | |
Treasury Stock, Shares, Acquired | 84,603 | 250,000 | 86,650 | 0 | 50,000 | 0 | ||
Stock Issued During Period, Shares, Restricted Stock Award, Gross | 0 | 0 | 27,719 | 0 | 0 | 18,800 |
Consolidated Condensed Statem_6
Consolidated Condensed Statements Of Cash Flows - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2019 | Sep. 30, 2018 | |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Provision for loan losses | $ 6,384 | $ 4,586 |
Amortization of investment securities, net | (5,077) | (4,631) |
Depreciation | 6,676 | 6,446 |
Depreciation of premises and equipment | (2,052) | (6) |
Amortization of investment securities, net | 1,102 | 932 |
Realized net investment securities losses | 421 | 2,271 |
Gain on equity securities, net | 5,309 | 4,633 |
Loan originations to be sold in secondary market | (224,314) | (153,093) |
Proceeds from sale of loans in secondary market | 214,266 | 154,544 |
Share-based compensation expense | 3,752 | 3,064 |
OREO valuation adjustments | 123 | 398 |
Loss (gain) on sale of OREO, net | 224 | (4,093) |
Bank owned life insurance income | (3,399) | (4,625) |
Investment in qualified affordable housing tax credits amortization | 5,438 | 5,553 |
Changes in assets and liabilities: | ||
Decrease in other assets | 5,127 | 6,594 |
Increase in other liabilities | 1,128 | 4,536 |
Net cash provided by operating activities | 73,971 | 96,978 |
Investing activities: | ||
Payments for (Proceeds from) Federal Home Loan Bank Stock | 9,964 | 7,004 |
Proceeds from sales of investment securities | 91,110 | 244,399 |
Proceeds from Sale, Maturity and Collection of Investments [Abstract] | ||
Available-for-sale securities | 145,851 | 151,860 |
Held-to-maturity securities | 475 | 10,102 |
Payments to Acquire Investments [Abstract] | ||
Payments to Acquire Debt Securities, Available-for-sale | 0 | 373,372 |
Payments to Acquire Held-to-maturity Securities | 0 | (4,946) |
Equity securities | 0 | (2,590) |
Payments to Acquire Federal Reserve Bank Stock | (5,180) | 0 |
Increase (Decrease) in Equity Securities, FV-NI | 6,145 | 1,141 |
Net loan originations, portfolio loans | (112,767) | 12,027 |
Payments for Affordable Housing Programs | (3,843) | 0 |
Proceeds from the sale of OREO | 1,098 | 11,919 |
Life insurance death benefits | 1,344 | 4,028 |
Payments to Acquire Businesses, Net of Cash Acquired [Abstract] | (4,831) | 12,270 |
Purchases of premises and equipment | (11,641) | (7,145) |
Net cash provided by investing activities | 117,725 | 66,697 |
Financing activities: | ||
Net increase in deposits | 275,207 | 177,626 |
Net decrease in short-term borrowings | (64,891) | (211,471) |
Proceeds from issuance of long-term debt | 50,000 | 25,000 |
Repayments of Long-term Debt | (152,500) | (125,000) |
Payment, Tax Withholding, Share-based Payment Arrangement | (827) | (610) |
Repurchase of common shares to be held as treasury shares | (40,535) | (5,784) |
Cash dividends paid | (52,638) | (47,944) |
Net cash provided by (used in) financing activities | 13,816 | (188,183) |
Increase in cash and cash equivalents | 205,512 | (24,508) |
Cash and cash equivalents at beginning of year | 167,214 | 169,112 |
Cash and cash equivalents at end of period | 372,726 | 144,604 |
Supplemental disclosures of cash flow information: | ||
Cash paid for interest | 47,891 | 30,424 |
Income Taxes Paid | 9,261 | 5,525 |
Debt Securities, Held-to-maturity, Transfer, Amount | 349,773 | 0 |
Non cash activities: | ||
Real Estate Owned, Transfer to Real Estate Owned | 951 | 1,037 |
Other Significant Noncash Transaction, Value of Consideration Received | 11,351 | 0 |
Other repossessed assets, transfer to repossessed assets | 0 | 11,379 |
Affordable Housing Program Obligation, Period Increase (Decrease) | 10,000 | 8,000 |
Consumer Portfolio Segment [Member] | ||
Changes in assets and liabilities: | ||
Increase in prepaid dealer premiums | (4,625) | (1,399) |
Mortgage Loans on Real Estate [Member] | ||
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Gain on sale of loans in secondary market | $ 4,658 | $ 3,604 |
Basis Of Presentation
Basis Of Presentation | 9 Months Ended |
Sep. 30, 2019 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Basis Of Presentation | Basis of Presentation The accompanying unaudited consolidated condensed financial statements included in this report have been prepared for Park National Corporation (sometimes also referred to as the “Registrant”) and its subsidiaries. Unless the context otherwise requires, references to "Park", the "Corporation" or the "Company" and similar terms mean Park National Corporation and its subsidiaries. In the opinion of management, all adjustments (consisting of normal recurring accruals) necessary for a fair presentation of the results of operations for the interim periods included herein have been made. The results of operations for the three-month and nine-month periods ended September 30, 2019 are not necessarily indicative of the operating results to be anticipated for the year ending December 31, 2019. The accompanying unaudited consolidated condensed financial statements have been prepared in accordance with the instructions for Form 10-Q and, therefore, do not include all information and footnotes necessary for a fair presentation of the condensed balance sheets, condensed statements of income, condensed statements of comprehensive income, condensed statements of changes in shareholders’ equity and condensed statements of cash flows in conformity with U.S. GAAP. These financial statements should be read in conjunction with the consolidated financial statements incorporated by reference in the Annual Report on Form 10-K of Park for the fiscal year ended December 31, 2018 from Park’s 2018 Annual Report to Shareholders (“Park's 2018 Annual Report”). Certain prior period amounts have been reclassified to conform to the current period presentation. |
Recent Accounting Pronouncement
Recent Accounting Pronouncements | 9 Months Ended |
Sep. 30, 2019 | |
New Accounting Pronouncements and Changes in Accounting Principles [Abstract] | |
Recent Accounting Pronouncements | Adoption of New Accounting Pronouncements and Issued But Not Yet Effective Accounting Standards The following is a summary of new accounting pronouncements impacting Park's consolidated financial statements, and issued but not yet effective accounting standards: Adoption of New Accounting Pronouncements ASU 2016-02 - Leases (Topic 842): In February 2016, the FASB issued ASU 2016-02 - Leases (Topic 842) . This ASU requires all organizations that lease assets to recognize on the balance sheet the assets and liabilities for the rights and obligations created by those leases. Additional qualitative and quantitative disclosures are required so that users can understand more about the nature of an entity’s leasing activities. The new guidance is effective for annual reporting periods and interim reporting periods within those annual periods, beginning after December 15, 2018. The adoption of this guidance on January 1, 2019 resulted in a $11.0 million increase in assets, a $11.2 million increase in liabilities and a $143,000 decrease in beginning retained earnings, but did not have a material impact on Park's consolidated statement of income. Additionally, Note 13 - Leases includes new required disclosures. ASU 2017-08 - Receivables - Nonrefundable Fees and Other Costs (Subtopic 310-20): Premium Amortization on Purchased Callable Debt Securities: In March 2017, the FASB issued ASU 2017-08 - Receivables - Nonrefundable Fees and Other Costs (Subtopic 310-20): Premium Amortization on Purchased Callable Debt Securities. This ASU amends the amortization period for certain purchased callable debt securities held at a premium. It shortens the amortization period for the premium to the earliest call date. Under previous U.S. GAAP, premiums on callable debt securities generally were amortized to the maturity date. The new guidance is effective for annual reporting periods, and interim reporting periods within those annual periods, beginning after December 15, 2018. The adoption of this guidance on January 1, 2019 did not have a material impact on Park's consolidated financial statements. ASU 2018-10 - Codification Improvements to Topic 842, Leases: In July 2018, the FASB issued ASU 2018-10 - Codification Improvements to Topic 842, Leases . This ASU includes amendments that clarify certain aspects of the guidance issued in ASU 2016-02. Park considered these clarifications in determining the appropriate adoption of ASU 2016-02 on January 1, 2019. ASU 2018-11 - Leases (Topic 842): Targeted Improvements: In July 2018, the FASB issued ASU 2018-11 - Leases (Topic 842): Targeted Improvements . This ASU amends the guidance in ASU 2016-02 which was not yet effective. The amendments in the ASU provide entities with an additional (and optional) transition method to adopt the new leases standard. Under this new transition method, an entity initially applies the new leases standard at the adoption date and recognizes a cumulative-effect adjustment to the opening balance of retained earnings for the period of adoption. Additionally, this amendment provides lessors with a practical expedient, by class of asset, to not separate nonlease components from the associated lease component and, instead, to account for those components as a single component if certain criteria are met. Park considered these clarifications in determining the appropriate adoption of ASU 2016-02 on January 1, 2019. ASU 2018-16 - Derivatives and Hedging (Topic 815): Inclusion of the Secured Overnight Financing Rate (SOFR) Overnight Index Swap (OIS) Rate as a Benchmark Interest Rate for Hedge Accounting Purposes: In October 2018, the FASB issued ASU 2018-16 - Derivatives and Hedging (Topic 815): Inclusion of the Secured Overnight Financing Rate (SOFR) Overnight Index Swap (OIS) Rate as a Benchmark Interest Rate for Hedge Accounting Purposes. The amendments in this ASU permit use of the OIS rate based on SOFR as a U.S. benchmark interest rate for hedge accounting purposes under Topic 815 in addition to the interest rates on direct Treasury obligations of the U.S. government ("UST"), the LIBOR swap rate, the OIS rate based on the Fed Funds Effective Rate, and the SIFMA Municipal Swap Rate. The amendments in this ASU are effective for fiscal years beginning after December 15, 2018, and interim periods within those fiscal years. The adoption of this guidance on January 1, 2019 did not have an impact on Park’s consolidated financial statements. ASU 2018-20 - Leases (Topic 842): Narrow - Scope Improvements for Lessors: In December 2018, the FASB issued ASU 2018-20 - Leases (Topic 842): Narrow - Scope Improvements for Lessors. The amendments in this ASU address the treatment of certain sales taxes and other similar taxes, certain lessor costs and recognition of variable payments for contracts with lease and nonlease components. Park considered these clarifications in determining the appropriate adoption of ASU 2016-02 on January 1, 2019. ASU 2019-01 - Leases (Topic 842): Narrow - Codification Improvements: In January 2019, the FASB issued ASU 2019-01 - Leases (Topic 842): Codification Improvements. The amendments in this ASU address the determination of the fair value of the underlying asset by lessors that are not manufacturers or dealers, the presentation on the statement of cash flows for sales type and direct financing leases, and transition disclosures related to Topic 250, Accounting Changes and Error Corrections. Park considered these clarifications in determining the appropriate adoption of ASU 2016-02 on January 1, 2019. ASU 2019-07 - Codification Updates to SEC Sections: In July 2019, the FASB issued ASU 2019-07 - Codification Updates to SEC Sections. The amendments in this ASU update SEC Paragraphs Pursuant to SEC Final Rule Releases No. 33-10532, Disclosure Update and Simplification and Nos. 33-10231 and 33-10442, Investment Company Reporting Modernization, and Miscellaneous Updates . Park considered these amendments in presenting Park's consolidated condensed financial statements and disclosures. Issued But Not Yet Effective Accounting Standards ASU 2016-13 - Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments: In June 2016, FASB issued ASU 2016-13 - Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments . The new guidance replaces the incurred loss model with an expected loss model, which is referred to as the current expected credit loss model. The CECL model is applicable to the measurement of credit losses on financial assets measured at amortized cost, including loan receivables, HTM debt securities, and reinsurance receivables. It also applies to off-balance sheet credit exposures not accounted for as insurance (loan commitments, standby letters of credit, financial guarantees, and other similar instruments) and net investments in leases recognized by a lessor. The CECL model requires an entity to estimate credit losses over the life of an asset or off-balance sheet exposure. The new guidance is effective for annual reporting periods and interim reporting periods within those annual periods, beginning after December 15, 2019. Early adoption is permitted for annual reporting periods and interim reporting periods within those annual periods, beginning after December 15, 2018. Management is currently evaluating the impact of the adoption of this guidance on Park's consolidated financial statements. We anticipate that the adoption of the CECL model will result in a material increase to Park's allowance for loan losses. Management has established a committee to oversee the implementation of the CECL model. Currently, management is focusing on segmentation and loss driver analysis with the anticipation that models will be operational in the fourth quarter of 2019. ASU 2018-13 - Fair Value Measurement (Topic 820): Disclosure Framework - Changes to the Disclosure Requirements for Fair Value Measurement: In August 2018, the FASB issued 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 in Topic 820, Fair Value Measurement by removing, modifying and adding certain requirements. The amendments in this ASU are effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019. Early adoption is permitted upon issuance of this ASU. An entity is permitted to early adopt and remove or modify disclosures upon issuance of the ASU and delay adoption of the additional disclosures until their effective date. The adoption of this guidance will not have an impact on Park’s consolidated financial statements, but will impact disclosures. ASU 2018-14 - Compensation - Retirement Benefits - Defined Benefit Plans - General (Subtopic 715-20): Disclosure Framework - Changes to the Disclosure Requirements for Defined Benefit Plans: In August 2018, the FASB issued ASU 2018-14 - Compensation - Retirement Benefits - Defined Benefit Plans - General (Subtopic 715-20): Disclosure Framework - Changes to the Disclosure Requirements for Defined Benefit Plans . The amendments in this ASU modify the disclosure requirements for employers that sponsor defined benefit pension or other postretirement plans by removing disclosures that are no longer considered cost beneficial, clarifying the specific requirements of disclosures and adding disclosure requirements identified as relevant. The amendments in this ASU are effective for fiscal years ending after December 15, 2020. Early adoption is permitted. The adoption of this guidance will not have an impact on Park’s consolidated financial statements, but will impact disclosures. ASU 2018-19 - Codification Improvements to Topic 326, Financial Instruments - Credit Losses: In November 2018, the FASB issued ASU 2018-19 - Codification Improvements to Topic 326, Financial Instruments - Credit Losses. The amendment in this ASU clarifies that receivables arising from operating leases are not within the scope of Subtopic 326-20. Impairment of receivables arising from operating leases should be accounted for in accordance with Topic 842, Leases. Park will consider this clarification in determining the appropriate adoption of ASU 2016-13. ASU 2019-04 - Codification Improvements to Topic 326, Financial Instruments - Credit Losses, Topic 815, Derivatives and Hedging, and Topic 825, Financial Instruments: In April 2019, the FASB issued ASU 2018-19 - Codification Improvements to Topic 326, Financial Instruments - Credit Losses, Topic 815, Derivatives and Hedging, and Topic 825, Financial Instruments. This ASU includes amendments that clarify or address specific issues about certain aspects of the amendments in ASU 2016-01, Financial Instruments - Overall (Subtopic 925-10): Recognition and Measurement of Financial Assets and Financial Liabilities , ASU 2016-13 - Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments , and ASU 2017-12, Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities. Park has already adopted ASU 2016-01. As a result, certain provisions in the amendments within ASU 2019-04 related to the same topics as ASU 2016-01 are effective for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. Early adoption of these provision is permitted. The adoption of the provisions related to the same topics as ASU 2016-01 is not expected to have a material effect on Park’s consolidated financial statements. For the amendments related to Topic 326 that clarify or address specific aspects of ASU 2016-13, Park will consider these clarifications in determining the appropriate adoption of ASU 2016-13. Park has already adopted ASU 2017-12. As a result, the amendments within ASU 2019-04 are effective as of January 1, 2020 with early adoption permitted. This ASU allows entities, like Park, who did not reclassify debt securities from HTM to AFS upon the adoption of ASU 2017-12 to reclassify these securities as of the adoption of ASU 2019-04. Park has considered this option and, effective September 1, 2019, reclassified all HTM debt securities to AFS. The transfer occurred at fair value and resulted in an unrealized gain, net of taxes, of $19.1 million being recorded in other comprehensive income. ASU 2019-05 - Financial Instruments - Credit Losses (Topic 326): In May 2019, the FASB issued ASU 2019-05 - Financial Instruments - Credit Losses (Topic 326). |
Business Combinations
Business Combinations | 9 Months Ended |
Sep. 30, 2019 | |
Business Combinations [Abstract] | |
Business Combination Disclosure [Text Block] | Business Combinations NewDominion Bank On July 1, 2018, NewDominion Bank, a North Carolina state-chartered bank (“NewDominion”), merged with and into The Park National Bank, the national bank subsidiary of Park, with PNB continuing as the surviving entity pursuant to the Agreement and Plan of Merger and Reorganization (the “NewDominion Merger Agreement”), dated as of January 22, 2018, by and among Park, PNB, and NewDominion. In accordance with the NewDominion Merger Agreement, NewDominion shareholders were permitted to make an election to receive for their shares of NewDominion common stock either $1.08 in cash without interest (the cash consideration) or 0.01023 of a Park common share, plus cash in lieu of any fractional Park common share (the stock consideration). Based on the terms of the New Dominion Merger Agreement, the aggregate consideration to be paid in the merger was subject to proration and allocation procedures to ensure that 60 percent of the shares of NewDominion common stock outstanding immediately prior to the completion of the merger were exchanged for the stock consideration and that the remaining 40 percent of the shares of NewDominion common stock outstanding immediately prior to the completion of the merger were exchanged for the cash consideration, including, in each case, shares of NewDominion common stock subject to NewDominion options and restricted stock awards. Purchase consideration consisted of 435,457 Park common shares, valued at $48.5 million , and $30.7 million in cash to acquire 91.45% of NewDominion's outstanding shares of common stock. The remaining 8.55% of NewDominion's outstanding shares of common stock was previously held by Park. Park recognized a gain of $3.5 million as a result of remeasuring to fair value its 8.55% equity interest in NewDominion held before the business combination. This non-taxable gain is included in "Gain on equity securities, net" in the consolidated condensed statements of income. The acquisition is expected to provide additional revenue growth and geographic diversification. NewDominion's results of operations were included in Park’s results beginning July 1, 2018. For the three and nine months ended September 30, 2019, Park recorded merger-related expenses of $4,000 and $83,000 , respectively, associated with the NewDominion acquisition. For the three and nine months ended September 30, 2018, Park recorded merger-related expenses of $3.1 million and $3.7 million , respectively, associated with the NewDominion acquisition. Goodwill of $40.4 million arising from the acquisition consisted largely of synergies and the cost savings resulting from the combining of the operations of the PNB and NewDominion. The goodwill is not deductible for income tax purposes as the transaction was accounted for as a tax-free exchange. The following table summarizes the consideration paid for NewDominion and the amounts of the assets acquired and liabilities assumed at their fair value: (in thousands) Consideration Cash $ 30,684 Park common shares 48,519 Previous 8.55% investment in NewDominion 7,000 Fair value of total consideration transferred $ 86,203 Recognized amounts of identifiable assets acquired and liabilities assumed Cash and cash equivalents $ 42,954 Securities 1,954 Loans 272,753 Premises and equipment 940 Core deposit intangibles 6,249 Trade name intangible 1,300 Other assets 6,133 Total assets acquired 332,283 Deposits 284,231 Other liabilities 2,254 Total liabilities assumed 286,485 Net identifiable assets 45,798 Goodwill $ 40,405 Park accounted for the NewDominion acquisition using the acquisition method of accounting and accordingly, assets acquired, liabilities assumed and consideration exchanged were recorded at estimated fair value on the acquisition date, in accordance with FASB ASC Topic 805, Business Combinations. The fair value of net assets acquired includes fair value adjustments to loans that were not considered impaired as of the acquisition date. The fair value adjustments were determined using discounted contractual cash flows. However, Park believes that all contractual cash flows related to these loans will be collected. As such, these loans were not considered impaired at the acquisition date and were not subject to the guidance relating to purchased credit impaired loans which have shown evidence of credit deterioration since origination. Loans acquired that were not subject to these requirements included non-impaired loans with a fair value and gross contractual amounts receivable of $267.9 million and $273.7 million , respectively, on the date of acquisition. The table below presents information with respect to the fair value of acquired loans as well as their book balance at the acquisition date. (in thousands) Book Balance Fair Value Commercial, financial and agricultural $ 19,246 $ 19,138 Commercial real estate 119,434 117,638 Construction real estate: Commercial 22,494 22,235 Mortgage 8,391 8,111 Residential real estate: Commercial 14,798 14,797 Mortgage 50,295 48,714 HELOC 37,651 36,688 Consumer 541 539 Purchased credit impaired 5,069 4,893 Total loans $ 277,919 $ 272,753 CAB Financial Corporation On April 1, 2019, CAB Financial Corporation, a South Carolina corporation, merged with and into Park, with Park continuing as the surviving entity pursuant to the Agreement and Plan of Merger and Reorganization (the "CABF Merger Agreement"), dated as of September 12, 2018, by and between Park and CABF. Immediately following the CABF merger into Park, Carolina Alliance Bank, a South Carolina state-chartered bank and a wholly-owned subsidiary of CABF, was merged with and into PNB, with PNB as the surviving bank. In accordance with the CABF Merger Agreement, CABF shareholders were to receive for each share of their CABF common stock (i) $3.80 in cash (the cash consideration) and (ii) 0.1378 of a Park common share (the stock consideration). CABF stock options and restricted stock awards were fully vested (with any performance-based vesting condition deemed satisfied) and canceled and converted automatically into the right to receive merger consideration. Purchase consideration consisted of 1,037,205 Park common shares, valued at $98.3 million , and $28.6 million in cash to acquire 100% of CABF's outstanding shares of common stock. The acquisition is expected to provide additional revenue growth and geographic diversification. Carolina Alliance's results of operations were included in Park's results beginning April 1, 2019. For the three and nine months ended September 30, 2019, Park recorded merger-related expenses of $0.7 million and $6.9 million , respectively, associated with the Carolina Alliance acquisition. For the both the three or nine months ended September 30, 2018, Park recorded merger-related expenses of $251,000 associated with the Carolina Alliance acquisition. Goodwill of $45.3 million arising from the acquisition consisted largely of synergies and the cost savings resulting from the combining of the operations of PNB and Carolina Alliance. The goodwill is not deductible for income tax purposes as the transaction was accounted for as a tax-free exchange. The following table summarizes the consideration paid for Carolina Alliance and the amounts of the assets acquired and liabilities assumed at their fair value: (in thousands) Consideration Cash $ 28,630 Park common shares 98,275 Fair value of total consideration transferred $ 126,905 Recognized amounts of identifiable assets acquired and liabilities assumed Cash and cash equivalents $ 23,799 Securities 97,606 Loans 578,577 Premises and equipment 8,337 Core deposit intangibles 10,251 Other assets 31,675 Total assets acquired 750,245 Deposits 632,649 Other liabilities 35,951 Total liabilities assumed 668,600 Net identifiable assets 81,645 Goodwill $ 45,260 Park accounted for the Carolina Alliance acquisition using the acquisition method of accounting and accordingly, assets acquired, liabilities assumed and consideration exchanged were recorded at estimated fair value on the acquisition date, in accordance with FASB ASC Topic 805, Business Combinations. The fair value measurements of assets acquired and liabilities assumed are subject to refinement for up to one year after the closing date of the acquisition as additional information relative to closing date fair values becomes available. Park continues to finalize the fair values of loans, intangible assets, and deferred taxes. As a result, the fair value adjustments are preliminary and may change as information becomes available. Fair value adjustments will be finalized no later than April 2020. During the three months ended September 30, 2019, Park made a $58,000 adjustment to decrease the initial fair value of deposits, which resulted in a $58,000 reduction in goodwill. The fair value of net assets acquired includes fair value adjustments to loans that were not considered impaired as of the acquisition date. The fair value adjustments were determined using discounted contractual cash flows. However, Park believes that all contractual cash flows related to these loans will be collected. As such, these loans were not considered impaired at the acquisition date and were not subject to the guidance relating to purchased credit impaired loans which have shown evidence of credit deterioration since origination. Loans acquired that were not subject to these requirements included non-impaired loans with a fair value and gross contractual amounts receivable of $558.6 million and $570.8 million , respectively, on the date of acquisition. The table below presents information with respect to the fair value of acquired loans as well as their book balance at the acquisition date. (in thousands) Book Balance Fair Value Commercial, financial and agricultural $ 79,537 $ 79,373 Commercial real estate 281,425 273,855 Construction real estate: Commercial 43,106 42,176 Mortgage 11,130 10,633 Residential real estate: Commercial 48,546 48,684 Mortgage 30,519 30,969 HELOC 40,227 39,526 Consumer 4,813 4,647 Leases 28,589 28,781 Purchased credit impaired 21,806 19,933 Total loans $ 589,698 $ 578,577 The following table presents supplemental pro forma information as if the NewDominion and Carolina Alliance acquisitions had occurred as of January 1, 2018. The unaudited pro forma information includes adjustments for interest income on loans and securities acquired, amortization of intangibles arising from the respective transactions, depreciation expense on property acquired, interest expense on deposits acquired, and the related tax effects. The pro forma information is not necessarily indicative of the results of operations that would have occurred had the transactions been effected on the assumed date. Nine months ended September 30, (dollars in thousands, except per share data) 2019 2018 Net interest income $ 227,585 $ 225,753 Net income $ 85,720 $ 94,509 Basic earnings per share $ 5.18 $ 5.64 Diluted earnings per share $ 5.15 $ 5.59 |
Investment Securities
Investment Securities | 9 Months Ended |
Sep. 30, 2019 | |
Investments, Debt and Equity Securities [Abstract] | |
Investment Securities | Investment Securities The amortized cost and fair value of investment securities are shown in the following tables. Management performs a quarterly evaluation of investment securities for any other-than-temporary impairment. For the three -month and nine-month periods ended September 30, 2019 and 2018 , there were no investment securities deemed to be other-than-temporarily impaired. Investment securities at September 30, 2019 , were as follows: Debt Securities AFS (In thousands) Amortized Cost Gross Unrealized Holding Gains Gross Unrealized Holding Losses Estimated Fair Value Obligations of states and political subdivisions $ 303,522 $ 18,383 $ — $ 321,905 U.S. Government sponsored entities' asset-backed securities 934,468 10,373 6,460 938,381 Total $ 1,237,990 $ 28,756 $ 6,460 $ 1,260,286 Investment securities with unrealized losses at September 30, 2019 , were as follows: Unrealized loss position for less than 12 months Unrealized loss position for 12 months or longer Total (In thousands) Fair value Unrealized losses Fair value Unrealized Fair value Unrealized Debt Securities AFS U.S. Government sponsored entities' asset-backed securities $ 251,414 $ 1,095 $ 181,807 $ 5,365 $ 433,221 $ 6,460 Total $ 251,414 $ 1,095 $ 181,807 $ 5,365 $ 433,221 $ 6,460 Investment securities at December 31, 2018 , were as follows: Debt Securities AFS (In thousands) Amortized Cost Gross Gross Estimated Fair Value U.S. Government sponsored entities' asset-backed securities $ 1,028,883 $ 453 $ 25,915 $ 1,003,421 Total $ 1,028,883 $ 453 $ 25,915 $ 1,003,421 Debt Securities HTM (In thousands) Amortized Cost Gross Gross Estimated Fair Value Obligations of states and political subdivisions $ 305,278 $ 3,202 $ 2,672 $ 305,808 U.S. Government sponsored entities' asset-backed securities 46,530 87 1,003 45,614 Total $ 351,808 $ 3,289 $ 3,675 $ 351,422 Investment securities with unrealized/unrecognized losses at December 31, 2018 , were as follows: Unrealized/unrecognized loss position for less than 12 months Unrealized/unrecognized loss position for 12 months or longer Total (In thousands) Fair value Unrealized/unrecognized Fair value Unrealized/unrecognized Fair Unrealized/unrecognized Debt Securities AFS U.S. Government sponsored entities' asset-backed securities $ 506,280 $ 5,998 $ 449,569 $ 19,917 $ 955,849 $ 25,915 Total $ 506,280 $ 5,998 $ 449,569 $ 19,917 $ 955,849 $ 25,915 Debt Securities HTM Obligations of states and political subdivisions $ 91,960 $ 1,095 $ 70,723 $ 1,577 $ 162,683 $ 2,672 U.S. Government sponsored entities' asset-backed securities 32,656 838 6,931 165 39,587 1,003 Total $ 124,616 $ 1,933 $ 77,654 $ 1,742 $ 202,270 $ 3,675 Management does not believe any of the unrealized/unrecognized losses at September 30, 2019 or December 31, 2018 represented other-than-temporary impairment. Should the impairment of any of these securities become other-than-temporary, the cost basis of the investment will be reduced and the resulting loss recognized within net income in the period the other-than-temporary impairment is identified. Park’s U.S. Government sponsored entities' asset-backed securities consist primarily of 15 -year residential mortgage-backed securities and collateralized mortgage obligations. On September 1, 2019, Park adopted the portion of ASU 2019-04 which allowed for a one time reclassification of securities from HTM to AFS. On this date, Park transferred HTM securities with a fair value of $373.9 million to AFS classification. The transfer occurred at fair value and had a related unrealized gain, net of taxes, of $19.1 million recorded in other comprehensive income. The amortized cost and estimated fair value of investments in debt securities at September 30, 2019 , are shown in the following table by contractual maturity, except for asset-backed securities, which are shown as a single total, due to the unpredictability of the timing of principal repayments. Securities AFS (In thousands) Amortized cost Fair value Tax equivalent yield (1) U.S. Government sponsored entities' asset-backed securities $ 934,468 $ 938,381 2.37 % Obligations of state and political subdivisions: Due five through ten years $ 3,998 $ 4,140 3.04 % Due over ten years 299,524 317,765 3.69 % Total (1) $ 303,522 $ 321,905 3.68 % (1) The tax equivalent yield for certain obligations of state and political subdivisions includes the effects of a taxable equivalent adjustment using a 21% federal corporate income tax rate. During the three-month period ended September 30, 2019, Park sold certain AFS debt securities with a book value of $10.7 million at a gross loss of $67,000 , with a tax benefit of $14,000 , and sold certain AFS debt securities with a book value of $23.8 million at a gross gain of $253,000 , with tax expense of $53,000 . During the nine-month period ended September 30, 2019, Park sold certain AFS debt securities with a book value of $62.4 million at a gross loss of $692,000 , with a tax benefit of $145,000 , and sold certain AFS debt securities with a book value of $29.1 million at a gross gain of $271,000 , with tax expense of $57,000 . There were no sales of investment securities during the three-month period ended September 30, 2018. During the nine-month period ended September 30, 2018, Park sold certain AFS debt securities with a book value of $245.0 million at a gross loss of $2.6 million , with a tax benefit of $551,000 , and sold certain AFS debt securities with a book value of $2.0 million at a gross gain of $60,000 , with tax expense of $13,000 . Additionally, during the nine-month period ended September 30, 2018, Park sold certain HTM debt securities with a book value of $7.4 million at a gross gain of $291,000 , with tax expense of $61,000 . These HTM securities had been paid down by 96.3% of the principal outstanding at acquisition. Investment securities having a book value of $574 million and $634 million at September 30, 2019 and December 31, 2018, respectively, were pledged to collateralize government and trust department deposits in accordance with federal and state requirements, to secure repurchase agreements sold and as collateral for Federal Home Loan Bank advance borrowings. |
Other Investment Securities
Other Investment Securities | 9 Months Ended |
Sep. 30, 2019 | |
Other Investment Securities [Abstract] | |
Other Investment Securities | Other Investment Securities Other investment securities consist of stock investments in the FHLB, the FRB, and equity securities. The FHLB and FRB restricted stock investments are carried at their redemption value. Equity securities with a readily determinable fair value are carried at fair value. Equity securities without a readily determinable fair value are recorded at cost, minus impairment, if any, plus or minus changes resulting from observable price changes in orderly transactions ("modified cost"). Park's portfolio of equity investments in limited partnerships which provide mezzanine funding ("Partnership Investments") are valued using the net asset value practical expedient in accordance with ASC 820. The carrying amount of other investment securities at September 30, 2019 and December 31, 2018 was as follows: (In thousands) September 30, 2019 December 31, 2018 FHLB stock $ 33,424 $ 43,388 FRB stock 14,653 8,225 Equity investments carried at fair value 1,889 1,649 Equity investments carried at cost/modified cost (1) 2,689 2,589 Equity investments carried at net asset value 15,989 17,065 Total other investment securities $ 68,644 $ 72,916 (1) There have been no impairments, downward adjustments, or upward adjustments made to equity investments carried at modified cost. During the nine months ended September 30, 2019, the FHLB repurchased 99,646 shares of FHLB stock with a book value of $10.0 million , and Park purchased 128,553 shares of FRB stock, with a book value of $6.4 million . During the three months ended September 30, 2019 and 2018, $58,000 and $(326,000) , respectively, of unrealized gains (losses) on equity investments carried at fair value were recorded within "Gain on equity securities, net" on the consolidated condensed statements of income. During the nine months ended September 30, 2019 and 2018, $241,000 and $(33,000) , respectively, of unrealized gains (losses) on equity investments carried at fair value were recorded within "Gain on equity securities, net" on the consolidated condensed statements of income. During the three months ended September 30, 2019 and 2018, $3.3 million and $415,000 , respectively, of gains on equity investments carried at NAV were recorded within “Gain on equity securities, net” on the consolidated condensed statements of income. During the nine months ended September 30, 2019 and 2018, $5.1 million and $1.2 million , respectively, of gains on equity investment carried at NAV were recorded within “Gain on equity securities, net” on the consolidated condensed statements of income. An additional $3.5 million gain recorded within “Gain on equity securities, net” on the consolidated condensed statement of income for the nine months ended September 30, 2018 relates to Park's 8.55% investment in NewDominion which was held at June 30, 2018. See Note 3 - Business Combinations . |
Loans
Loans | 9 Months Ended |
Sep. 30, 2019 | |
Loans and Leases Receivable Disclosure [Abstract] | |
Loans | Loans The composition of the loan portfolio, by class of loan, as of September 30, 2019 and December 31, 2018 was as follows: September 30, 2019 December 31, 2018 (In thousands) Loan Balance Accrued Interest Receivable Recorded Investment Loan Balance Accrued Interest Receivable Recorded Investment Commercial, financial and agricultural * $ 1,140,138 $ 5,404 $ 1,145,542 $ 1,072,786 $ 4,603 $ 1,077,389 Commercial real estate * 1,599,697 5,767 1,605,464 1,283,045 4,750 1,287,795 Construction real estate: Commercial 223,603 777 224,380 175,300 801 176,101 Mortgage 92,985 232 93,217 70,541 151 70,692 Installment 1,581 5 1,586 2,433 7 2,440 Residential real estate: Commercial 465,656 1,199 466,855 429,730 1,150 430,880 Mortgage 1,174,421 1,529 1,175,950 1,134,278 1,227 1,135,505 HELOC 231,007 1,185 232,192 215,283 1,159 216,442 Installment 13,027 34 13,061 14,327 36 14,363 Consumer 1,430,400 3,946 1,434,346 1,292,136 3,756 1,295,892 Leases 31,132 30 31,162 2,273 26 2,299 Total loans $ 6,403,647 $ 20,108 $ 6,423,755 $ 5,692,132 $ 17,666 $ 5,709,798 * Included within each of commercial, financial and agricultural loans and commercial real estate loans is an immaterial amount of consumer loans that are not broken out by class. Loans are shown net of deferred origination fees, costs and unearned income of $15.9 million at September 30, 2019 and $12.5 million at December 31, 2018 , which represented a net deferred income position at each date. At September 30, 2019 and December 31, 2018 , loans included purchase accounting adjustments of $13.4 million and $4.4 million , respectively, which represented a net deferred income position at each date. This fair market value adjustment is expected to be recognized into interest income on a level yield basis over the remaining expected life of the loans. Overdrawn deposit accounts of $2.0 million and $2.3 million had been reclassified to loans at September 30, 2019 and December 31, 2018 , respectively, and are included in the commercial, financial and agricultural loan class above. Credit Quality The following tables present the recorded investment in nonaccrual loans, accruing TDRs, and loans past due 90 days or more and still accruing by class of loan as of September 30, 2019 and December 31, 2018 : September 30, 2019 (In thousands) Nonaccrual Loans Accruing TDRs Loans Past Due 90 Days or More and Accruing Total Nonperforming Loans Commercial, financial and agricultural $ 28,099 $ 3,430 $ — $ 31,529 Commercial real estate 36,663 2,136 625 39,424 Construction real estate: Commercial 1,786 82 235 2,103 Mortgage 27 7 — 34 Installment 73 6 12 91 Residential real estate: Commercial 2,224 14 — 2,238 Mortgage 15,367 8,821 1,641 25,829 HELOC 1,700 1,021 56 2,777 Installment 512 1,915 — 2,427 Consumer 3,016 1,053 570 4,639 Leases 88 — 209 297 Total loans $ 89,555 $ 18,485 $ 3,348 $ 111,388 December 31, 2018 (In thousands) Nonaccrual Loans Accruing TDRs Loans Past Due 90 Days or More and Accruing Total Nonperforming Loans Commercial, financial and agricultural $ 14,998 $ 196 $ 10 $ 15,204 Commercial real estate 25,566 2,860 — 28,426 Construction real estate: Commercial 1,866 — — 1,866 Mortgage — 15 20 35 Installment 19 9 — 28 Residential real estate: Commercial 2,610 122 — 2,732 Mortgage 16,892 9,100 1,124 27,116 HELOC 2,158 1,028 9 3,195 Installment 468 1,049 24 1,541 Consumer 3,377 843 1,115 5,335 Leases — — — — Total loans $ 67,954 $ 15,222 $ 2,302 $ 85,478 The following table provides additional information regarding those nonaccrual loans and accruing TDR loans that were individually evaluated for impairment and those collectively evaluated for impairment, as of September 30, 2019 and December 31, 2018 . September 30, 2019 December 31, 2018 (In thousands) Nonaccrual and Accruing TDRs Loans Individually Evaluated for Impairment Loans Collectively Evaluated for Impairment Nonaccrual and Accruing TDRs Loans Individually Evaluated for Impairment Loans Collectively Evaluated for Impairment Commercial, financial and agricultural $ 31,529 $ 31,485 $ 44 $ 15,194 $ 15,120 $ 74 Commercial real estate 38,799 38,799 — 28,426 28,426 — Construction real estate: Commercial 1,868 1,868 — 1,866 1,866 — Mortgage 34 — 34 15 — 15 Installment 79 — 79 28 — 28 Residential real estate: Commercial 2,238 2,238 — 2,732 2,732 — Mortgage 24,188 — 24,188 25,992 — 25,992 HELOC 2,721 — 2,721 3,186 — 3,186 Installment 2,427 — 2,427 1,517 — 1,517 Consumer 4,069 — 4,069 4,220 — 4,220 Leases 88 88 — — — — Total loans $ 108,040 $ 74,478 $ 33,562 $ 83,176 $ 48,144 $ 35,032 All of the loans individually evaluated for impairment were evaluated using the fair value of the underlying collateral or the present value of expected future cash flows as the measurement method. The following table presents loans individually evaluated for impairment by class of loan, together with the related allowance recorded, as of September 30, 2019 and December 31, 2018 . September 30, 2019 December 31, 2018 (In thousands) Unpaid Principal Balance Recorded Investment Allowance for Loan Losses Allocated Unpaid Principal Balance Recorded Investment Allowance for Loan Losses Allocated With no related allowance recorded: Commercial, financial and agricultural $ 19,140 $ 18,783 $ — $ 8,999 $ 3,713 $ — Commercial real estate 38,723 38,519 — 26,663 26,213 — Construction real estate: Commercial 4,682 1,868 — 4,679 1,866 — Residential real estate: Commercial 2,101 2,035 — 2,691 2,374 — Leases — — — — — — With an allowance recorded: Commercial, financial and agricultural 14,839 12,702 2,917 13,736 11,407 2,169 Commercial real estate 280 280 30 2,255 2,213 86 Construction real estate: Commercial — — — — — — Residential real estate: Commercial 203 203 111 358 358 18 Leases 88 88 25 — — — Total $ 80,056 $ 74,478 $ 3,083 $ 59,381 $ 48,144 $ 2,273 Management’s general practice is to charge down loans individually evaluated for impairment to the fair value of the underlying collateral. At September 30, 2019 and December 31, 2018 , there were $3.5 million and $8.8 million , respectively, of partial charge-offs on loans individually evaluated for impairment with no related allowance recorded and $2.1 million and $2.4 million , respectively, of partial charge-offs on loans individually evaluated for impairment that also had a specific reserve allocated. The allowance included specific reserves related to loans individually evaluated for impairment at September 30, 2019 and December 31, 2018 of $3.1 million and $2.3 million , respectively. These loans with specific reserves had a recorded investment of $13.3 million and $14.0 million as of September 30, 2019 and December 31, 2018 , respectively. Interest income on nonaccrual loans individually evaluated for impairment is recognized on a cash basis only when Park expects to receive the entire recorded investment of the loans. Interest income on accruing TDRs individually evaluated for impairment continues to be recorded on an accrual basis. The following table presents the average recorded investment and interest income recognized subsequent to impairment on loans individually evaluated for impairment as of and for the three and nine months ended September 30, 2019 and September 30, 2018 : Three Months Ended Three Months Ended (In thousands) Recorded Investment as of September 30, 2019 Average Recorded Investment Interest Income Recognized Recorded Investment as of September 30, 2018 Average Recorded Investment Interest Income Recognized Commercial, financial and agricultural $ 31,485 $ 23,468 $ 107 $ 16,026 $ 23,247 $ 187 Commercial real estate 38,799 29,779 277 25,805 26,428 268 Construction real estate: Commercial 1,868 1,922 1 2,016 2,246 4 Residential real estate: Commercial 2,238 1,977 27 2,913 2,758 26 Leases 88 90 — — — — Total $ 74,478 $ 57,236 $ 412 $ 46,760 $ 54,679 $ 485 Nine Months Ended Nine Months Ended (In thousands) Recorded Investment as of September 30, 2019 Average Recorded Investment Interest Income Recognized Recorded Investment as of September 30, 2018 Average Recorded Investment Interest Income Recognized Commercial, financial and agricultural $ 31,485 $ 18,368 $ 244 — $ 16,026 $ 22,686 $ 506 Commercial real estate 38,799 29,712 803 — 25,805 21,582 671 Construction real estate: Commercial 1,868 2,176 23 — 2,016 1,661 31 Residential real estate: Commercial 2,238 2,198 72 — 2,913 6,086 84 Leases 88 36 — — — — Total $ 74,478 $ 52,490 $ 1,142 — $ 46,760 $ 52,015 $ 1,292 The following tables present the aging of the recorded investment in past due loans as of September 30, 2019 and December 31, 2018 by class of loan. September 30, 2019 (In thousands) Accruing Loans Past Due 30-89 Days Past Due Nonaccrual Loans and Loans Past Due 90 Days or More and Accruing (1) Total Past Due Total Current (2) Total Recorded Investment Commercial, financial and agricultural $ 2,570 $ 10,602 $ 13,172 $ 1,132,370 $ 1,145,542 Commercial real estate 673 1,354 2,027 1,603,437 1,605,464 Construction real estate: Commercial — 2,023 2,023 222,357 224,380 Mortgage 118 — 118 93,099 93,217 Installment — 12 12 1,574 1,586 Residential real estate: Commercial 40 791 831 466,024 466,855 Mortgage 10,196 9,508 19,704 1,156,246 1,175,950 HELOC 570 845 1,415 230,777 232,192 Installment 45 269 314 12,747 13,061 Consumer 5,758 1,572 7,330 1,427,016 1,434,346 Leases 51 209 260 30,902 31,162 Total loans $ 20,021 $ 27,185 $ 47,206 $ 6,376,549 $ 6,423,755 (1) Includes an aggregate of $3.3 million of loans past due 90 days or more and accruing. The remaining loans were past due nonaccrual loans. (2) Includes an aggregate of $65.7 million of nonaccrual loans which were current in regards to contractual principal and interest payments. December 31, 2018 (in thousands) Accruing Loans Past Due 30-89 Days Past Due (1) Total Past Due Total Current (2) Total Recorded Investment Commercial, financial and agricultural $ 4,786 $ 1,375 $ 6,161 $ 1,071,228 $ 1,077,389 Commercial real estate 780 3,584 4,364 1,283,431 1,287,795 Construction real estate: Commercial — 1,635 1,635 174,466 176,101 Mortgage 133 20 153 70,539 70,692 Installment 28 19 47 2,393 2,440 Residential real estate: Commercial 683 1,104 1,787 429,093 430,880 Mortgage 13,210 8,553 21,763 1,113,742 1,135,505 HELOC 620 907 1,527 214,915 216,442 Installment 155 274 429 13,934 14,363 Consumer 9,524 2,131 11,655 1,284,237 1,295,892 Leases — — — 2,299 2,299 Total loans $ 29,919 $ 19,602 $ 49,521 $ 5,660,277 $ 5,709,798 (1) Includes an aggregate of $2.3 million of loans past due 90 days or more and accruing. The remaining loans were past due nonaccrual loans. (2) Includes an aggregate of $50.7 million of nonaccrual loans which were current in regards to contractual principal and interest payments. Credit Quality Indicators Management utilizes past due information as a credit quality indicator across the loan portfolio. Past due information as of September 30, 2019 and December 31, 2018 is included in the tables above. The past due information is the primary credit quality indicator within the following classes of loans: (1) mortgage loans and installment loans in the construction real estate segment; (2) mortgage loans, HELOC and installment loans in the residential real estate segment; and (3) consumer loans. The primary credit indicator for commercial loans is based on an internal grading system that grades commercial loans on a scale from 1 to 8. Credit grades are continuously monitored by the responsible loan officer and adjustments are made when appropriate. A grade of 1 indicates little or no credit risk and a grade of 8 is considered a loss. Commercial loans that are pass-rated (graded an 1 through a 4) are considered to be of acceptable credit risk. Commercial loans graded a 5 (special mention) are considered to be watch list credits and a higher loan loss reserve percentage is allocated to these loans. Loans classified as special mention have potential weaknesses that require management’s close attention. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for the loan or of Park’s credit position at some future date. Commercial loans graded a 6 (substandard), also considered to be watch list credits, are considered to represent higher credit risk and, as a result, a higher loan loss reserve percentage is allocated to these loans. Loans classified as substandard are inadequately protected by the current sound worth and paying capacity of the obligor or the value of the collateral pledged, if any. Loans so classified have a well-defined weakness or weaknesses that jeopardize the liquidation of the debt. They are characterized by the distinct possibility that Park will sustain some loss if the deficiencies are not corrected. Commercial loans that are graded a 7 (doubtful) are shown as nonaccrual and Park generally charges these loans down to their fair value by taking a partial charge-off or recording a specific reserve. Loans classified as doubtful have all the weaknesses inherent in those classified as substandard with the added characteristic that the weaknesses make collection or liquidation in full, on the basis of currently existing facts, conditions, and values, highly questionable and improbable. Certain 6-rated loans and all 7-rated loans are placed on nonaccrual status and included within the impaired category. A loan is deemed impaired when management determines the borrower's ability to perform in accordance with the contractual loan agreement is in doubt. Any commercial loan graded an 8 (loss) is completely charged off. The tables below present the recorded investment by loan grade at September 30, 2019 and December 31, 2018 for all commercial loans: September 30, 2019 (In thousands) 5 Rated 6 Rated Nonaccrual and Accruing TDRs Purchase Credit Impaired (1) Pass-Rated Recorded Investment Commercial, financial and agricultural * $ 27,059 $ 315 $ 31,529 $ 4,803 $ 1,081,836 $ 1,145,542 Commercial real estate * 11,429 1,246 38,799 10,595 1,543,395 1,605,464 Construction real estate: Commercial 3,852 — 1,868 1,288 217,372 224,380 Residential real estate: Commercial 1,001 33 2,238 1,926 461,657 466,855 Leases — — 88 568 30,506 31,162 Total commercial loans $ 43,341 $ 1,594 $ 74,522 $ 19,180 $ 3,334,766 $ 3,473,403 * Included within each of commercial, financial and agricultural loans and commercial real estate loans is an immaterial amount of consumer loans that are not broken out by class. (1) Excludes loans acquired with deteriorated credit quality which are nonaccrual or TDRs due to additional credit deterioration or modification post acquisition. These loans had a recorded investment of $11,000 at September 30, 2019 . December 31, 2018 (In thousands) 5 Rated 6 Rated Nonaccrual and Accruing TDRs Purchase Credit Impaired (1) Pass-Rated Recorded Investment Commercial, financial and agricultural * $ 11,509 $ 444 $ 15,194 $ 148 $ 1,050,094 $ 1,077,389 Commercial real estate * 2,707 — 28,426 3,059 1,253,603 1,287,795 Construction real estate: Commercial 1,560 — 1,866 503 172,172 176,101 Residential real estate: Commercial 272 41 2,732 251 427,584 430,880 Leases — — — — 2,299 2,299 Total Commercial Loans $ 16,048 $ 485 $ 48,218 $ 3,961 $ 2,905,752 $ 2,974,464 * Included within each of commercial, financial and agricultural loans and commercial real estate loans is an immaterial amount of consumer loans that are not broken out by class. (1) Excludes loans acquired with deteriorated credit quality which are nonaccrual or TDRs due to additional credit deterioration or modification post acquisition. These loans had a recorded investment of $475,000 at December 31, 2018. Loans and Leases Acquired with Deteriorated Credit Quality In conjunction with the NewDominion Bank acquisition, Park acquired loans with a book value of $277.9 million as of July 1, 2018. These loans were recorded at the initial fair value of $272.8 million . Loans acquired with deteriorated credit quality with a book value of $5.1 million were recorded at the initial fair value of $4.9 million . The carrying amount of loans acquired with deteriorated credit quality at September 30, 2019 and December 31, 2018 was $3.3 million and $4.4 million , respectively, while the outstanding customer balance was $3.4 million and $4.6 million , respectively. At September 30, 2019 and December 31, 2018 , no allowance had been recognized related to the acquired impaired loans. In conjunction with the Carolina Alliance acquisition, Park acquired loans and leases with a book value of $589.7 million as of April 1, 2019. These loans and leases were recorded at the initial fair value of $578.6 million . Loans and leases acquired with deteriorated credit quality with a book value of $21.8 million were recorded at the initial fair value of $19.9 million . The carrying amount of loans and leases acquired with deteriorated credit quality at September 30, 2019 was $17.2 million , while the outstanding customer balance was $18.9 million . At September 30, 2019 , no allowance had been recognized related to the acquired impaired loans and leases. Troubled Debt Restructurings Management classifies loans as TDRs when a borrower is experiencing financial difficulties and Park has granted a concession to the borrower as part of a modification or in the loan renewal process. In order to determine whether a borrower is experiencing financial difficulty, an evaluation is performed of the probability that the borrower will be in payment default on any of the borrower's debt in the foreseeable future without the modification. This evaluation is performed in accordance with the Company’s internal underwriting policy. Management’s policy is to modify loans by extending the term or by granting a temporary or permanent contractual interest rate below the market rate, not by forgiving debt. A court's discharge of a borrower's debt in a Chapter 7 bankruptcy is considered a concession when the borrower does not reaffirm the discharged debt. Certain loans which were modified during the three -month and nine -month periods ended September 30, 2019 and September 30, 2018 did not meet the definition of a TDR as the modification was a delay in a payment that was considered to be insignificant. Management considers a forbearance period of up to three months or a delay in payment of up to 30 days to be insignificant. TDRs may be classified as accruing if the borrower has been current for a period of at least six months with respect to loan payments and management expects that the borrower will be able to continue to make payments in accordance with the terms of the restructured note. Management reviews all accruing TDRs quarterly to ensure payments continue to be made in accordance with the modified terms. Quarterly, management reviews renewals/modifications of loans previously identified as TDRs to consider if it is appropriate to remove the TDR classification. If the borrower is no longer experiencing financial difficulty and the renewal/modification did not contain a concessionary interest rate or other concessionary terms and the terms of the renewal/modification are considered to be market terms based on the current risk characteristics of the borrower, management considers the potential removal of the TDR classification. If deemed appropriate, the TDR classification is removed if the borrower has complied with the terms of the loan at the date of the renewal/modification and there was a reasonable expectation that the borrower would continue to comply with the terms of the loan subsequent to the date of the renewal/modification. The majority of these TDRs were originally considered restructurings in a prior year as a result of a renewal/modification with an interest rate that was not commensurate with the risk of the underlying loan at the time of the renewal/modification. The TDR classification was removed on $15,000 of loans during the three -month period ended September 30, 2019 and on $38,000 of loans during the nine -month period ended September 30, 2019 . The TDR classification was removed on $0.2 million of loans during the three -month period ended September 30, 2018 and on $2.4 million of loans during the nine -month period ended September 30, 2018 . At September 30, 2019 and December 31, 2018 , there were $29.1 million and $24.6 million , respectively, of TDRs included in the nonaccrual loan totals. At September 30, 2019 and December 31, 2018 , $17.2 million and $19.2 million , respectively, of these nonaccrual TDRs were performing in accordance with the terms of the restructured note. As of September 30, 2019 and December 31, 2018 , loans with a recorded investment of $18.5 million and $15.2 million , respectively, were included in accruing TDR loan totals. Management will continue to review the restructured loans and may determine it is appropriate to move certain nonaccrual TDRs to accrual status in the future. At September 30, 2019 and December 31, 2018 , Park had commitments to lend $3.4 million and $0.3 million , respectively, of additional funds to borrowers whose outstanding loan terms had been modified in a TDR. At both September 30, 2019 and December 31, 2018 , there were $1.2 million of specific reserves related to TDRs. Modifications made in 2019 and 2018 were largely the result of renewals and extending the maturity date of the loans at terms consistent with the original notes. These modifications were deemed to be TDRs primarily due to Park’s conclusion that the borrower would likely not have qualified for similar terms through another lender. Many of the modifications deemed to be TDRs were previously identified as impaired loans, and thus were also previously evaluated for impairment under Accounting Standards Codification (ASC) 310. There were no additional specific reserves recorded during the three -month period ended September 30, 2019 as a result of TDRs identified in the period. Additional specific reserves of $150,000 were recorded during the three -month period ended September 30, 2018 as a result of TDRs identified in the period. Additional specific reserves of $1,000 and $160,000 were recorded during the nine -month periods ended September 30, 2019 and September 30, 2018 , respectively, as a result of TDRs identified in the respective periods. The terms of certain other loans were modified during the three -month and nine -month periods ended September 30, 2019 and September 30, 2018 that did not meet the definition of a TDR. There were $0.4 million of substandard commercial loans modified during the three -month period ended September 30, 2019 which did not meet the definition of a TDR. Substandard commercial loans modified during the nine -month period ended September 30, 2019 which did not meet the definition of a TDR had a total recorded investment of $0.6 million . There were no substandard commercial loans modified during the three -month period ended September 30, 2018 which did not meet the definition of a TDR. Substandard commercial loans modified during the nine -month period ended September 30, 2018 which did not meet the definition of a TDR had a total recorded investment of $0.2 million . Consumer loans modified during the three -month and nine -month periods ended September 30, 2019 which did not meet the definition of a TDR had a total recorded investment of $11.9 million and $21.4 million , respectively. Consumer loans with a recorded investment of $6.6 million and $17.0 million were modified during the three -month and nine -month periods ended September 30, 2018 , respectively, and did not meet the definition of a TDR. Many of these loans were to borrowers who were not experiencing financial difficulties but who were looking to reduce their cost of funds. The following tables detail the number of contracts modified as TDRs during the three -month periods ended September 30, 2019 and September 30, 2018 , as well as the recorded investment of these contracts at September 30, 2019 and September 30, 2018 . The recorded investment pre- and post-modification is generally the same due to the fact that Park does not typically forgive principal. Three Months Ended (In thousands) Number of Contracts Accruing Nonaccrual Total Recorded Investment Commercial, financial and agricultural 8 $ 752 $ 5,002 $ 5,754 Commercial real estate 1 — 241 241 Construction real estate: Commercial 1 82 — 82 Mortgage — — — — Installment — — — — Residential real estate: Commercial 1 13 — 13 Mortgage 4 286 215 501 HELOC 6 31 107 138 Installment 9 407 14 421 Consumer 77 174 542 716 Total loans 107 $ 1,745 $ 6,121 $ 7,866 Three Months Ended (In thousands) Number of Contracts Accruing Nonaccrual Total Recorded Investment Commercial, financial and agricultural 8 $ 22 $ 552 $ 574 Commercial real estate 3 — 1,154 1,154 Construction real estate: Commercial — — — — Mortgage — — — — Installment — — — — Residential real estate: Commercial 2 55 249 304 Mortgage 4 — 246 246 HELOC 10 453 16 469 Installment 8 336 — 336 Consumer 71 31 590 621 Total loans 106 $ 897 $ 2,807 $ 3,704 Of those loans which were modified and determined to be a TDR during the three -month period ended September 30, 2019 , $0.6 million were on nonaccrual status as of December 31, 2018 . Of those loans which were modified and determined to be a TDR during the three -month period ended September 30, 2018 , $0.1 million were on nonaccrual status as of December 31, 2017 . The following tables detail the number of contracts modified as TDRs during the nine -month periods ended September 30, 2019 and September 30, 2018 , as well as the recorded investment of these contracts at September 30, 2019 and September 30, 2018 . The recorded investment pre- and post-modification is generally the same due to the fact that Park does not typically forgive principal. Nine Months Ended (In thousands) Number of Contracts Accruing Nonaccrual Total Recorded Investment Commercial, financial and agricultural 24 $ 3,237 $ 6,059 $ 9,296 Commercial real estate 5 — 3,236 3,236 Construction real estate: Commercial 2 82 — 82 Mortgage 1 — — — Installment — — — — Residential real estate: Commercial 2 13 36 49 Mortgage 18 340 673 1,013 HELOC 14 121 243 364 Installment 25 951 52 1,003 Consumer 251 199 987 1,186 Total loans 342 $ 4,943 $ 11,286 $ 16,229 Nine Months Ended (In thousands) Number of Contracts Accruing Nonaccrual Total Recorded Investment Commercial, financial and agricultural 16 $ 208 $ 592 $ 800 Commercial real estate 10 447 1,412 1,859 Construction real estate: Commercial 1 — — — Mortgage — — — — Installment 2 12 — 12 Residential real estate: Commercial 2 55 249 304 Mortgage 17 90 972 1,062 HELOC 18 735 125 860 Installment 17 437 16 453 Consumer 206 59 1,157 1,216 Total loans 289 $ 2,043 $ 4,523 $ 6,566 Of those loans which were modified and determined to be a TDR during the nine -month period ended September 30, 2019 , $1.8 million were on nonaccrual status as of December 31, 2018 . Of those loans which were modified and determined to be a TDR during the nine -month period ended September 30, 2018 , $0.5 million were on nonaccrual status as of December 31, 2017 . The following tables present the recorded investment in loans which were modified as TDRs within the previous 12 months and for which there was a payment default during the three -month and nine -month periods ended September 30, 2019 and September 30, 2018 , respectively. For these tables, a loan is considered to be in default when it becomes 30 days contractually past due under the modified terms. The additional allowance for loan loss resulting from the defaults on TDR loans was immaterial. Three Months Ended Three Months Ended (In thousands) Number of Contracts Recorded Investment Number of Contracts Recorded Investment Commercial, financial and agricultural 2 $ 2 1 $ 1 Commercial real estate — — — — Construction real estate: Commercial — — — — Mortgage — — — — Installment — — — — Residential real estate: Commercial — — — — Mortgage 4 257 8 688 HELOC 5 135 3 108 Installment 2 66 — — Consumer 51 477 40 315 Leases — — — — Total loans 64 $ 937 52 $ 1,112 Of the $0.9 million in modified TDRs which defaulted during the three -month period ended September 30, 2019 , $48,000 were accruing loans and $0.9 million were nonaccrual loans. Of the $1.1 million in modified TDRs which defaulted during the three -month period ended September 30, 2018 , $67,000 were accruing loans and $1.0 million were nonaccrual loans. Nine Months Ended Nine Months Ended (In thousands) Number of Contracts Recorded Investment Number of Contracts Recorded Investment Commercial, financial and agricultural 3 $ 65 1 $ 1 Commercial real estate — — — — Construction real estate: Commercial — — — — Mortgage — — — — Installment — — — — Residential real estate: Commercial 1 13 — — Mortgage 7 370 9 789 HELOC 7 165 3 108 Installment 2 66 — — Consumer 58 530 50 392 Leases — — — — Total loans 78 $ 1,209 63 $ 1,290 Of the $1.2 million in modified TDRs which defaulted during the nine -month period ended September 30, 2019 , $87,000 were accruing loans and $1.1 million were nonaccrual loans. Of the $1.3 million in modified TDRs which defaulted during the nine -month period ended September 30, 2018 , $67,000 were accruing loans and $1.2 million were nonaccrual loans. |
Allowance For Loan Losses
Allowance For Loan Losses | 9 Months Ended |
Sep. 30, 2019 | |
Financing Receivable, Allowance for Credit Loss, Writeoff, after Recovery [Abstract] | |
Allowance For Loan Losses | Allowance for Loan Losses The allowance for loan losses is that amount management believes is adequate to absorb probable incurred credit losses in the loan portfolio based on management’s evaluation of various factors including overall growth in the loan portfolio, an analysis of individual loans, prior and current loss experience, and current economic conditions. A provision for loan losses is charged to operations based on management’s periodic evaluation of these and other pertinent factors as discussed within Note 1 of the Notes to Consolidated Financial Statements included in Park’s 2018 Annual Report. Loss factors are reviewed quarterly and updated at least annually to reflect recent loan loss history and incorporate current risks and trends which may not be recognized in historical data. The following are factors management reviews on a quarterly or annual basis. • Historical Loss Factor: Management updated the historical loss calculation during the fourth quarter of 2018, incorporating net charge-offs plus changes in specific reserves through December 31, 2018. With the addition of 2018 historical losses, management extended the historical loss period to 108 months from 96 months. The 108 -month historical loss period captures all annual periods subsequent to June 2009, the end of the most recent recession, thus encompassing the full economic cycle to date. • Loss Emergence Period Factor: At least annually, management calculates the loss emergence period for each commercial loan segment. The loss emergence period is calculated based upon the average period of time it takes from the probable occurrence of a loss event to the credit being moved to nonaccrual. If the loss emergence period for any commercial loan segment is greater than one year, management applies additional general reserves to all performing loans within that segment of the commercial loan portfolio. The loss emergence period was last updated in the fourth quarter of 2018. • Loss Migration Factor: Park’s commercial loans are individually risk graded. If loan downgrades occur, the probability of default increases, and accordingly, management allocates a higher percentage reserve to those accruing commercial loans graded special mention and substandard. Annually, management calculates a loss migration factor for each commercial loan segment for special mention and substandard credits based on a review of losses over the period of time a loan takes to migrate from pass-rated to impaired. The loss migration factor was last updated in the fourth quarter of 2018. • Environmental Loss Factor: Management has identified certain macroeconomic factors that trend in accordance with losses in Park’s commercial loan portfolio. These macroeconomic factors are reviewed quarterly and the adjustments made to the environmental loss factor impacting each segment in the performing commercial loan portfolio correlate to changes in the macroeconomic environment. No change was made to the environmental loss factor during the nine months ended September 30, 2019 . The activity in the allowance for loan losses for the three -month and nine -month periods ended September 30, 2019 and September 30, 2018 is summarized in the following tables. Three Months Ended (In thousands) Commercial, financial and agricultural Commercial real estate Construction real estate Residential real estate Consumer Leases Total Allowance for loan losses: Beginning balance $ 17,370 $ 10,377 $ 5,065 $ 8,869 $ 12,265 $ 57 $ 54,003 Charge-offs 585 8 — 85 1,801 — 2,479 Recoveries 403 246 432 98 1,183 — 2,362 Net charge-offs/(recoveries) 182 (238 ) (432 ) (13 ) 618 — 117 Provision/(recovery) 1,238 (177 ) (65 ) 49 908 14 1,967 Ending balance $ 18,426 $ 10,438 $ 5,432 $ 8,931 $ 12,555 $ 71 $ 55,853 Three Months Ended (In thousands) Commercial, financial and agricultural Commercial real estate Construction real estate Residential real estate Consumer Leases Total Allowance for loan losses: Beginning balance $ 14,478 $ 9,406 $ 4,652 $ 9,245 $ 11,671 $ — $ 49,452 Charge-offs 993 23 26 61 2,371 — 3,474 Recoveries 136 27 156 130 875 4 1,328 Net charge-offs/(recoveries) 857 (4 ) (130 ) (69 ) 1,496 (4 ) 2,146 Provision/(recovery) 1,394 337 (187 ) (212 ) 1,612 (4 ) 2,940 Ending balance $ 15,015 $ 9,747 $ 4,595 $ 9,102 $ 11,787 $ — $ 50,246 Nine Months Ended (In thousands) Commercial, financial and agricultural Commercial real estate Construction real estate Residential real estate Consumer Leases Total Allowance for loan losses: Beginning balance $ 16,777 $ 9,768 $ 4,463 $ 8,731 $ 11,773 $ — $ 51,512 Charge-offs 1,498 401 — 176 6,319 — 8,394 Recoveries 983 360 543 640 3,824 1 6,351 Net charge-offs/(recoveries) 515 41 (543 ) (464 ) 2,495 (1 ) 2,043 Provision/(recovery) 2,164 711 426 (264 ) 3,277 70 6,384 Ending balance $ 18,426 $ 10,438 $ 5,432 $ 8,931 $ 12,555 $ 71 $ 55,853 Nine Months Ended (In thousands) Commercial, financial and agricultural Commercial real estate Construction real estate Residential real estate Consumer Leases Total Allowance for loan losses: Beginning balance $ 15,022 $ 9,601 $ 4,430 $ 9,321 $ 11,614 $ — $ 49,988 Charge-offs 1,929 252 57 279 7,123 — 9,640 Recoveries 994 203 435 734 2,942 4 5,312 Net charge-offs/(recoveries) 935 49 (378 ) (455 ) 4,181 (4 ) 4,328 Provision/(recovery) 928 195 (213 ) (674 ) 4,354 (4 ) 4,586 Ending balance $ 15,015 $ 9,747 $ 4,595 $ 9,102 $ 11,787 $ — $ 50,246 Loans collectively evaluated for impairment in the following tables include all performing loans at September 30, 2019 and December 31, 2018 , as well as nonperforming loans internally classified as consumer loans. Nonperforming consumer loans are not typically individually evaluated for impairment, but receive a portion of the statistical allocation of the allowance for loan losses. Loans individually evaluated for impairment include all impaired loans internally classified as commercial loans at September 30, 2019 and December 31, 2018 , which are evaluated for impairment in accordance with U.S. GAAP (see Note 1 of the Notes to Consolidated Financial Statements included in Park’s 2018 Annual Report). The composition of the allowance for loan losses at September 30, 2019 and December 31, 2018 was as follows: September 30, 2019 (In thousands) Commercial, financial and agricultural Commercial real estate Construction real estate Residential real estate Consumer Leases Total Allowance for loan losses: Ending allowance balance attributed to loans: Individually evaluated for impairment $ 2,917 $ 30 $ — $ 111 $ — $ 25 $ 3,083 Collectively evaluated for impairment 15,509 10,408 5,432 8,820 12,555 46 52,770 Acquired with deteriorated credit quality (1) — — — — — — — Total ending allowance balance $ 18,426 $ 10,438 $ 5,432 $ 8,931 $ 12,555 $ 71 $ 55,853 Loan balance: Loans individually evaluated for impairment $ 31,472 $ 38,758 $ 1,869 $ 2,237 $ — $ 88 $ 74,424 Loans collectively evaluated for impairment 1,103,885 1,550,422 314,942 1,878,615 1,430,397 30,476 6,308,737 Loans acquired with deteriorated credit quality (1) 4,781 10,517 1,358 3,259 3 568 20,486 Total ending loan balance $ 1,140,138 $ 1,599,697 $ 318,169 $ 1,884,111 $ 1,430,400 $ 31,132 $ 6,403,647 Allowance for loan losses as a percentage of loan balance: Loans individually evaluated for impairment 9.27 % 0.08 % — % 4.96 % — % 28.41 % 4.14 % Loans collectively evaluated for impairment 1.40 % 0.67 % 1.72 % 0.47 % 0.88 % 0.15 % 0.84 % Loans acquired with deteriorated credit quality — % — % — % — % — % — % — % Total 1.62 % 0.65 % 1.71 % 0.47 % 0.88 % 0.23 % 0.87 % Recorded investment: Loans individually evaluated for impairment $ 31,485 $ 38,799 $ 1,868 $ 2,238 $ — $ 88 $ 74,478 Loans collectively evaluated for impairment 1,109,254 1,556,070 315,927 1,882,543 1,434,343 30,506 6,328,643 Loans acquired with deteriorated credit quality (1) 4,803 10,595 1,388 3,277 3 568 20,634 Total ending recorded investment $ 1,145,542 $ 1,605,464 $ 319,183 $ 1,888,058 $ 1,434,346 $ 31,162 $ 6,423,755 (1) Excludes loans acquired with deteriorated credit quality which are individually evaluated for impairment due to additional credit deterioration or modification post-acquisition. These loans had a balance of $11,000 , a recorded investment of $11,000 , and no allowance as of September 30, 2019 . December 31, 2018 (In thousands) Commercial, financial and agricultural Commercial real estate Construction real estate Residential real estate Consumer Leases Total Allowance for loan losses: Ending allowance balance attributed to loans: Individually evaluated for impairment $ 2,169 $ 86 $ — $ 18 $ — $ — $ 2,273 Collectively evaluated for impairment 14,608 9,682 4,463 8,713 11,773 — 49,239 Acquired with deteriorated credit quality — — — — — — — Total ending allowance balance $ 16,777 $ 9,768 $ 4,463 $ 8,731 $ 11,773 $ — $ 51,512 Loan balance: Loans individually evaluated for impairment $ 15,119 $ 28,418 $ 1,866 $ 2,732 $ — $ — $ 48,135 Loans collectively evaluated for impairment 1,057,520 1,251,579 245,909 1,790,637 1,292,136 2,273 5,640,054 Loans acquired with deteriorated credit quality (1) 147 3,048 499 249 — — 3,943 Total ending loan balance $ 1,072,786 $ 1,283,045 $ 248,274 $ 1,793,618 $ 1,292,136 $ 2,273 $ 5,692,132 Allowance for loan losses as a percentage of loan balance: Loans individually evaluated for impairment 14.35 % 0.30 % — % 0.66 % — % — % 4.72 % Loans collectively evaluated for impairment 1.38 % 0.77 % 1.81 % 0.49 % 0.91 % — % 0.87 % Loans acquired with deteriorated credit quality — % — % — % — % — % — % — % Total 1.56 % 0.76 % 1.80 % 0.49 % 0.91 % — % 0.90 % Recorded investment: Loans individually evaluated for impairment $ 15,120 $ 28,426 $ 1,866 $ 2,732 $ — $ — $ 48,144 Loans collectively evaluated for impairment 1,062,121 1,256,310 246,864 1,794,207 1,295,892 2,299 5,657,693 Loans acquired with deteriorated credit quality (1) 148 3,059 503 251 — — 3,961 Total ending recorded investment $ 1,077,389 $ 1,287,795 $ 249,233 $ 1,797,190 $ 1,295,892 $ 2,299 $ 5,709,798 (1) Excludes loans acquired with deteriorated credit quality which are individually evaluated for impairment due to additional credit deterioration or modification post acquisition. These loans had a balance of $475,000 , a recorded investment of $475,000 , and no allowance as of December 31, 2018. |
Mortgage Loans Held for Sale
Mortgage Loans Held for Sale | 9 Months Ended |
Sep. 30, 2019 | |
Receivables [Abstract] | |
Mortgage Loans Held For Sale | Loans Held For Sale Mortgage loans held for sale are carried at their fair value. At September 30, 2019 and December 31, 2018 , respectively, Park had $22.0 million and $4.2 million in mortgage loans held for sale. These amounts are included in loans on the consolidated condensed balance sheets and in the residential real estate loan segments in Note 6 - Loans , and Note 7 - Allowance for Loan Losses . The contractual balance was $21.7 million and $4.1 million at September 30, 2019 and December 31, 2018 , respectively. The gain expected upon sale was $294,000 and $60,000 at September 30, 2019 and December 31, 2018 , respectively. None of these loans were 90 days or more past due or on nonaccrual status as of September 30, 2019 or December 31, 2018 . |
Goodwill and other intangibles
Goodwill and other intangibles | 9 Months Ended |
Sep. 30, 2019 | |
Goodwill [Line Items] | |
Goodwill and Intangible Assets Disclosure [Text Block] | Goodwill and Other Intangible Assets The following table shows the activity in goodwill and other intangible assets for the nine months ended September 30, 2019 and 2018. (in thousands) Goodwill Other intangible assets Total December 31, 2017 $ 72,334 $ — $ 72,334 Acquired goodwill and other intangible assets 40,405 7,549 47,954 Amortization — 289 289 September 30, 2018 $ 112,739 $ 7,260 $ 119,999 December 31, 2018 $ 112,739 $ 6,971 $ 119,710 Acquired goodwill and other intangible assets 45,260 10,251 55,511 Amortization — 1,732 1,732 September 30, 2019 $ 157,999 $ 15,490 $ 173,489 Park evaluates goodwill for impairment during the second quarter of each year, with financial data as of March 31. Based on the analysis performed during the second quarter of 2019, the Company determined that goodwill for Park's reporting unit, PNB, was not impaired. There have been no subsequent circumstances or events triggering an additional evaluation. Acquired Intangible Assets The following table shows the balance of acquired intangible assets as of September 30, 2019 and December 31, 2018. September 30, 2019 December 31, 2018 (in thousands) Gross Carrying Amount Accumulated Amortization Gross Carrying Amount Accumulated Amortization Other intangible assets: Core deposit intangible assets $ 16,500 $ 2,310 $ 6,249 $ 578 Trade name intangible assets 1,300 — 1,300 — Total $ 17,800 $ 2,310 $ 7,549 $ 578 Core deposit intangible assets are being amortized, on an accelerated basis, over a period of ten years. The trade name intangible is an indefinite life asset and is not amortized, but rather is assessed, at least annually, for impairment. Aggregate amortization expense was $741,000 and $1.7 million for the three and nine months ended September 30, 2019, respectively. Aggregate amortization expense was $289,000 for both the three and nine months ended September 30, 2018. Estimated amortization expense related to core deposit intangible assets for each of the periods listed below follows: (in thousands) Total Three months ending December 31, 2019 $ 741 2020 2,502 2021 2,040 2022 1,725 2023 1,548 |
Investment in Qualified Afforda
Investment in Qualified Affordable Housing | 9 Months Ended |
Sep. 30, 2019 | |
Equity Method Investments and Joint Ventures [Abstract] | |
Investment in Qualified Affordable Housing | Investment in Qualified Affordable Housing Park makes certain equity investments in various limited partnerships that sponsor affordable housing projects. The purposes of these investments are to achieve a satisfactory return on capital, help create affordable housing opportunities, and assist the Company to achieve its goals associated with the Community Reinvestment Act. The table below details the balances of Park’s affordable housing tax credit investments and related unfunded commitments as of September 30, 2019 and December 31, 2018. (in thousands) September 30, 2019 December 31, 2018 Affordable housing tax credit investments $ 54,909 $ 50,347 Unfunded commitments 28,439 22,282 Commitments are funded when capital calls are made by the general partner. Park expects that the current commitments will be funded between 2019 and 2029. During the three months ended September 30, 2019 and 2018, Park recognized amortization expense of $1.8 million and $1.9 million , respectively, which was included within the provision for income taxes. During the nine months ended September 30, 2019 and 2018, Park recognized amortization expense of $5.4 million and $5.6 million , respectively, which was included within the provision for income taxes. Additionally, during the three months ended September 30, 2019 and 2018, Park recognized tax credits and other benefits from its affordable housing tax credit investments of $2.6 million and $2.0 million , respectively, and during each of the nine months ended September 30, 2019 and 2018, Park recognized tax credits and other benefits from its affordable housing tax credit investments of $6.9 million |
Other Real Estate Owned
Other Real Estate Owned | 9 Months Ended |
Sep. 30, 2019 | |
Other Real Estate Owned [Abstract] | |
Other Real Estate Owned | Foreclosed and Repossessed Assets Park typically transfers a loan to other real estate owned at the time that Park takes deed/title to the real estate property asset. The carrying amounts of foreclosed real estate properties held at September 30, 2019 and December 31, 2018 are listed below, as well as the recorded investment of loans secured by residential real estate properties for which formal foreclosure proceedings were in process at those dates. (in thousands) September 30, 2019 December 31, 2018 OREO: Commercial real estate $ 2,385 $ 2,359 Construction real estate 380 1,108 Residential real estate 1,014 836 Total OREO $ 3,779 $ 4,303 Loans in process of foreclosure: Residential real estate $ 2,499 $ 2,346 In addition to real estate, Park may also repossess different types of collateral. At both September 30, 2019 and December 31, 2018 , Park had $4.0 million |
Loan Servicing
Loan Servicing | 9 Months Ended |
Sep. 30, 2019 | |
Transfers and Servicing of Financial Assets [Abstract] | |
Loan Servicing | Loan Servicing Park serviced sold mortgage loans of $1.41 billion at September 30, 2019, $1.39 billion at December 31, 2018 and $1.38 billion at September 30, 2018 . At September 30, 2019 , $2.4 million of the sold mortgage loans were sold with recourse, compared to $2.5 million at December 31, 2018 and $2.6 million at September 30, 2018 . Management closely monitors the delinquency rates on the mortgage loans sold with recourse. At September 30, 2019 and December 31, 2018, management had established reserves of $26,000 and $60,000 , respectively, to account for expected losses on loan repurchases. When Park sells mortgage loans with servicing rights retained, these servicing rights are initially recorded at fair value. Park selected the “amortization method” as permissible within U.S. GAAP, whereby the servicing rights capitalized are amortized in proportion to and over the period of estimated future servicing income with respect to the underlying loan. At the end of each reporting period, the carrying value of MSRs is assessed for impairment with a comparison to fair value. MSRs are carried at the lower of their amortized cost or fair value. The amortization of MSRs is included within other service income in the consolidated condensed statements of income. Activity for MSRs and the related valuation allowance follows: Three Months Ended Nine Months Ended (In thousands) 2019 2018 2019 2018 Mortgage servicing rights: Carrying amount, net, beginning of period $ 10,104 $ 10,077 $ 10,178 $ 9,688 Additions 722 432 1,462 1,208 Amortization (534 ) (387 ) (1,259 ) (1,156 ) Changes in valuation allowance (332 ) (26 ) (421 ) 356 Carrying amount, net, end of period $ 9,960 $ 10,096 $ 9,960 $ 10,096 Valuation allowance: Beginning of period $ 321 $ 248 $ 232 $ 630 Changes in valuation allowance 332 26 421 (356 ) End of period $ 653 $ 274 $ 653 $ 274 Servicing fees included in other service income were $0.9 million for each of the three months ended September 30, 2019 and 2018 and were $2.7 million for each of the nine months ended September 30, 2019 and 2018. |
Leases
Leases | 9 Months Ended |
Sep. 30, 2019 | |
Leases [Abstract] | |
Lessee, Operating Leases | Leases Park is a lessee in several noncancellable operating lease arrangements, primarily for retail branches, administrative and warehouse buildings, ATMs, and certain office equipment within its Ohio, North Carolina, South Carolina, and Kentucky markets. Certain of these leases contain renewal options for periods ranging from one to five years. Park’s leases generally do not include termination options for either party to the lease or restrictive financial or other covenants. Payments due under the lease contracts include fixed payments plus, for many of Park’s real estate leases, variable payments such as Park's proportionate share of property taxes, insurance, and common area maintenance. The Company adopted ASU 2016-02, Leases (ASC 842), using the modified retrospective method as of the date of adoption, January 1, 2019, as permitted by the amendments in ASU 2018-11. As a result, the Company was not required to adjust its comparative period financial information for effects of the adoption of the standard or make the new required lease disclosures for periods prior to the effective date. Upon adoption of this accounting guidance on January 1, 2019, Park recorded an initial ROU asset of $11.0 million , and a lease liability of $11.8 million , and reclassified an existing deferred rent liability of $0.6 million . The impact to the Company's retained earnings, net of the tax impact, was $143,000 . Management elected to adopt the package of transition practical expedients and, therefore, has not reassessed (1) whether existing or expired contracts contain a lease, (2) lease classification for existing or expired leases or (3) the accounting for initial direct costs that were previously capitalized. The Company did not elect the practical expedient to use hindsight for leases existing at the adoption date. Park elected the practical expedient, by class of underlying asset, to not separate non-lease components from the associated lease components. Additionally, Park has elected not to recognize ROU assets and lease liabilities for short-term leases that have a lease term of 12 months or less. The Company recognizes the lease payments associated with its short-term leases as an expense on a cash basis. Management determines if an arrangement is or contains a lease at contract inception. If an arrangement is determined to be or contain a lease, Park recognizes a ROU asset and a lease liability at the lease commencement date. Park’s lease liability is initially and subsequently measured at the present value of the unpaid lease payments at the lease commencement date. Key estimates and judgments related to the lease liability include how management determines (1) the discount rate it uses to discount the unpaid lease payments to present value, (2) the lease term, and (3) lease payments. • ASC 842 requires a lessee to discount its unpaid lease payments using the interest rate implicit in the lease or, if that rate cannot be readily determined, its incremental borrowing rate. Generally, management cannot determine the interest rate implicit in the lease because it does not have access to the lessor’s estimated residual value or the amount of the lessor’s deferred initial direct costs. Therefore, Park utilizes its incremental borrowing rate as the discount rate for leases. Park’s incremental borrowing rate for a lease is the rate of interest it would have to pay on a collateralized basis to borrow an amount equal to the lease payments under similar terms. To manage its capital and liquidity needs, Park periodically obtains wholesale funding from the FHLB on an over-collateralized basis. The impact of utilizing an interest rate on an over-collateralized borrowing versus a fully collateralized borrowing is not material. Therefore, the FHLB yield curve was selected by management as a baseline to determine Park’s discount rates for leases. • The lease term for all of the Company’s leases includes the noncancellable period of the lease plus any additional periods covered by either Park's option to extend (or not to terminate) the lease that the Company is reasonably certain to exercise, or an option to extend (or not to terminate) the lease controlled by the lessor. If a lease contract contains multiple renewal options, management generally models lease cash flows through the first renewal option period unless the contract contains economic incentives or other conditions that increase the likelihood that additional renewals are reasonably certain to be exercised. • Lease payments included in the measurement of the lease liability are comprised of the following: – Fixed payments, including in-substance fixed payments, owed over the lease term; – For certain of Park's gross real estate leases, non-lease components such as real estate taxes, insurance, and common area maintenance; and – Variable lease payments that depend on an index or rate, initially measured using the index or rate at the lease commencement date. The ROU asset is initially measured at cost, which comprises the initial amount of the lease liability adjusted for lease payments made at or before the lease commencement date, plus any initial direct costs incurred less any lease incentives received. For operating leases, the ROU asset is subsequently measured throughout the lease term at the carrying amount of the lease liability, plus initial direct costs, plus (minus) any prepaid (accrued) lease payments, less the unamortized balance of lease incentives received. Lease expense for lease payments is recognized on a straight-line basis over the lease term. Park's operating lease ROU asset and lease liability are presented in “Operating lease right-of-use asset" and "Operating lease liability," respectively, on Park's consolidated condensed balance sheet. The carrying amount of Park's ROU asset and lease liability at September 30, 2019 were $14.4 million and $15.2 million , respectively. Park's operating lease expense is recorded in "Occupancy expense" on the Company's consolidated condensed statements of income. Other information related to operating leases for the three and nine months ended September 30, 2019 was as follows: (Dollars in thousands) Three Months Ended Nine Months Ended Lease cost Operating lease cost $ 831 $ 2,320 Sublease income (97 ) (285 ) Total lease cost $ 734 $ 2,035 Other information Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 843 $ 2,336 ROU assets obtained in exchange for new operating lease liabilities $ 342 $ 381 Reductions to ROU assets resulting from reductions to lease obligations $ (726 ) $ (2,021 ) At September 30, 2019 , Park's operating leases had a weighted average remaining term of 7.4 years and a weighted average discount rate of 3.1% . Undiscounted cash flows included in lease liabilities have expected contractual payments as follows: (in thousands) September 30, 2019 Three months ending December 31, 2019 $ 852 2020 2,868 2021 2,565 2022 2,406 2023 2,294 Thereafter 6,044 Total undiscounted minimum lease payments $ 17,029 Present value adjustment (1,838 ) Total lease liabilities $ 15,191 |
Repurchase Agreement Borrowings
Repurchase Agreement Borrowings | 9 Months Ended |
Sep. 30, 2019 | |
Transfers and Servicing [Abstract] | |
Repurchase Agreement Borrowings | Repurchase Agreement Borrowings Securities sold under agreements to repurchase ("repurchase agreements") with customers represent funds deposited by customers, generally on an overnight basis, that are collateralized by investment securities owned by Park. Repurchase agreements with customers are included in short-term borrowings on the consolidated condensed balance sheets. All repurchase agreements are subject to terms and conditions of repurchase/security agreements between Park and the client and are accounted for as secured borrowings. Park's repurchase agreements consisted of customer accounts and securities which are pledged on an individual security basis. At September 30, 2019 and December 31, 2018 , Park's repurchase agreement borrowings totaled $161 million and $165 million , respectively. These borrowings were collateralized with U.S. government and agency securities with a fair value of $188 million and $272 million at September 30, 2019 and December 31, 2018 , respectively. Declines in the value of the collateral would require Park to pledge additional securities. As of September 30, 2019 and December 31, 2018 , Park had $785 million and $933 million , respectively, of available unpledged securities. The table below shows the remaining contractual maturity of repurchase agreements by collateral pledged at September 30, 2019 and December 31, 2018 : September 30, 2019 (in thousands) Remaining Contractual Maturity of the Agreements Overnight and Continuous Up to 30 days 30 - 90 days Greater than 90 days Total U.S. government and agency securities $ 160,838 $ — $ — $ — $ 160,838 December 31, 2018 (in thousands) Remaining Contractual Maturity of the Agreements Overnight and Continuous Up to 30 days 30 - 90 days Greater than 90 days Total U.S. government and agency securities $ 164,966 $ — $ — $ — $ 164,966 |
Derivatives
Derivatives | 9 Months Ended |
Sep. 30, 2019 | |
Derivative [Line Items] | |
Derivative Instruments and Hedging Activities Disclosure [Text Block] | Derivatives Park uses certain derivative instruments to meet the needs of its clients while managing the interest rate risk associated with certain transactions. Park does not use derivatives for speculative purposes. A summary of derivative instruments utilized by Park follows. Interest Rate Swaps Park utilizes interest rate swap agreements as part of its asset liability management strategy to help manage its interest rate risk position and as a means to meet the financing, interest rate and other risk management needs of qualifying commercial banking customers. The notional amount of the interest rate swaps does not represent the amount exchanged by the parties. The amount exchanged is determined by reference to the notional amount and the other terms of the individual interest rate swap agreements. Borrowing Derivatives : Interest rate swaps with notional amounts totaling $25.0 million as of September 30, 2019 were designated as cash flow hedges of certain FHLB advances. There were no interest rate swaps of FHLB advances as of December 31, 2018 . Loan Derivatives : In conjunction with the Carolina Alliance acquisition, Park acquired interest rate swaps related to certain commercial loans. These interest rate swaps were simultaneously hedged by offsetting interest rate swaps that Carolina Alliance executed with a third party, such that Carolina Alliance minimized its net interest rate risk exposure resulting from such transactions. These interest rate swaps had a notional amount totaling $36.0 million as of September 30, 2019 . There were no interest rate swaps of commercial loans as of December 31, 2018 . All of the Company's interest rate swaps were determined to be fully effective during the three and nine months ended September 30, 2019 . As such, no amount of ineffectiveness has been included in net income. Therefore, the aggregate fair value of the swaps is recorded in other assets and other liabilities with changes in fair value recorded in other comprehensive income. The amount included in accumulated other comprehensive loss would be reclassified to current earnings should the hedges no longer be considered effective. Park expects the hedges to remain fully effective during the remaining respective terms of the swaps. Summary information about Park's interest rate swaps as of September 30, 2019 follows: September 30, 2019 (In thousands, except weighted average data) Borrowing Derivatives Loan Derivatives Notional amounts $ 25,000 $ 35,961 Weighted average pay rates 2.595 % 4.692 % Weighted average receive rates 2.303 % 4.692 % Weighted average maturity (years) 2.7 10.4 Unrealized losses $ 704 $ — Interest expense recorded on swap transactions totaled $16,000 and $7,000 for the three -month and nine -month periods ended September 30, 2019 . No interest income or expense related to swap transactions was recorded during the three -month and nine -month periods ended September 30, 2018 . Interest Rate Swaps The following table presents the net gains (losses), net of income taxes, recorded in AOCI and the consolidated condensed statements of income related to interest rate swaps for the three -month and nine -month periods ended September 30, 2019 . Three Months Ended (In thousands) Amount of Gain (Loss) Recognized in OCI (Effective Portion) Amount of Gain (Loss) Reclassified from OCI to Interest Income Amount of Gain (Loss) Recognized in Other Non-interest Income (Ineffective Portion) Interest rate contracts $ (49 ) $ — $ — Nine Months Ended (In thousands) Amount of Gain (Loss) Recognized in OCI (Effective Portion) Amount of Gain (Loss) Reclassified from OCI to Interest Income Amount of Gain (Loss) Recognized in Other Non-interest Income (Ineffective Portion) Interest rate contracts $ (556 ) $ — $ — The following table reflects the interest rate swaps included in the consolidated condensed balance sheets as of September 30, 2019 . (In thousands) September 30, 2019 Notional Amount Fair Value Included in other assets: Borrowing derivatives - interest rate swaps related to FHLB advances $ — $ — Loan derivatives - instruments associated with loans Matched interest rate swaps with borrower 35,163 2,503 Matched interest rate swaps with counterparty 798 3 Total included in other assets $ 35,961 $ 2,506 Included in other liabilities: Borrowing derivatives - interest rate swaps related to FHLB advances $ 25,000 $ (704 ) Loan derivatives - instruments associated with loans Matched interest rate swaps with borrower 798 (3 ) Matched interest rate swaps with counterparty 35,163 (2,503 ) Total included in other liabilities $ 60,961 $ (3,210 ) Mortgage Banking Derivatives Commitments to fund mortgage loans (interest rate locks) to be sold into the secondary market and forward commitments for the future delivery of these mortgage loans are accounted for as free standing derivatives. In order to hedge the change in interest rates resulting from its commitments to fund the loans, the Company enters into forward commitments for the future delivery of mortgage loans when interest rate locks are entered into. These mortgage banking derivatives are not designated in hedge relationships. The fair value of the interest rate lock is recorded at the time the commitment to fund the mortgage loan is executed and is adjusted for the expected exercise of the commitment before the loan is funded. Fair values of these mortgage banking derivatives are estimated based on changes in mortgage interest rates from the date the interest on the loan is locked. Changes in the fair values of these derivatives are included in "Other service income" in the Condensed Consolidated Statements of Income. At September 30, 2019 and December 31, 2018 , Park had $28.8 million and $5.8 million , respectively, of interest rate lock commitments. The fair value of these mortgage banking derivatives was reflected by a derivative asset of $422,000 and $87,000 at September 30, 2019 and December 31, 2018 , respectively. Other Derivatives In connection with the sale of Park’s Class B Visa shares during 2009, Park entered into a swap agreement with the purchaser of the shares. The swap agreement adjusts for dilution in the conversion ratio of Class B Visa shares resulting from certain Visa litigation. At September 30, 2019 , the fair value of the swap liability of $226,000 was an estimate of the exposure based upon probability-weighted potential Visa litigation losses. |
Other Comprehensive Income (Los
Other Comprehensive Income (Loss) | 9 Months Ended |
Sep. 30, 2019 | |
Statement of Comprehensive Income [Abstract] | |
Other Comprehensive Income (Loss) | Accumulated Other Comprehensive Loss Other comprehensive income (loss) components, net of income tax, are shown in the following table for the three-month and nine-month periods ended September 30, 2019 and 2018 : (in thousands) Changes in pension plan assets and benefit obligations Unrealized net holding loss on cash flow hedge Unrealized gains (losses) on AFS debt securities Total Beginning balance at July 1, 2019 $ (29,672 ) $ (507 ) $ 3,872 $ (26,307 ) Other comprehensive (loss) income before reclassifications (1) — (49 ) 13,889 13,840 Amounts reclassified from accumulated other comprehensive loss — — (147 ) (147 ) Net current period other comprehensive (loss) income — (49 ) 13,742 13,693 Ending balance at September 30, 2019 $ (29,672 ) $ (556 ) $ 17,614 $ (12,614 ) Beginning balance at July 1, 2018 $ (26,701 ) $ — $ (28,308 ) $ (55,009 ) Other comprehensive loss before reclassifications — — (5,141 ) (5,141 ) Net current period other comprehensive loss — — (5,141 ) (5,141 ) Ending balance at September 30, 2018 $ (26,701 ) $ — $ (33,449 ) $ (60,150 ) (in thousands) Changes in pension plan assets and benefit obligations Unrealized net holding loss on cash flow hedge Unrealized gains (losses) on AFS debt securities Total Beginning balance at January 1, 2019 $ (29,672 ) $ — $ (20,116 ) $ (49,788 ) Other comprehensive (loss) income before reclassifications (1) — (556 ) 37,397 36,841 Amounts reclassified from accumulated other comprehensive loss — — 333 333 Net current period other comprehensive (loss) income — (556 ) 37,730 37,174 Ending balance at September 30, 2019 $ (29,672 ) $ (556 ) $ 17,614 $ (12,614 ) Beginning balance at January 1, 2018, as previously presented $ (23,526 ) $ — $ (2,928 ) $ (26,454 ) Cumulative effect of change in accounting principle for marketable equity securities, net of tax — — (995 ) (995 ) Beginning balance at January 1, 2018, as adjusted (23,526 ) — (3,923 ) (27,449 ) Reclassification of disproportionate income tax effects (3,175 ) — (631 ) (3,806 ) Net current period activity Other comprehensive loss before reclassifications — — (30,919 ) (30,919 ) Amounts reclassified from accumulated other comprehensive loss — — 2,024 2,024 Net current period other comprehensive loss — — (28,895 ) (28,895 ) Ending balance at September 30, 2018 $ (26,701 ) $ — $ (33,449 ) $ (60,150 ) (1) During the three-month and nine-month periods ended September 30, 2019, Park transferred HTM securities with a fair value of $373.9 million to AFS classification. The transfer occurred at fair value and had a related unrealized gain of $24.2 million ( $19.1 million net of taxes), recorded in other comprehensive income. During the three-month period ended September 30, 2019, there was $186,000 ( $147,000 net of tax) reclassified out of accumulated other comprehensive loss due to net gains on the sale of AFS debt securities. During the nine-month period ended September 30, 2019, there was $421,000 ( $333,000 net of tax) reclassified out of accumulated other comprehensive loss due to net losses on the sale of AFS debt securities. During the nine-month period ended September 30, 2018, there was $2.6 million ( $2.0 million net of tax) reclassified out of accumulated other comprehensive loss due to net losses on the sale of AFS debt securities. All of these losses were recorded within "net gain (loss) on the sale of investment securities" on the consolidated condensed statements of income. During the three-month period ended September 30, 2018, there were no |
Earnings Per Common Share
Earnings Per Common Share | 9 Months Ended |
Sep. 30, 2019 | |
Earnings Per Share [Abstract] | |
Earnings Per Common Share | Earnings Per Common Share The following table sets forth the computation of basic and diluted earnings per common share for the three and nine months ended September 30, 2019 and 2018 . Three Months Ended Nine Months Ended (In thousands, except share and per common share data) 2019 2018 2019 2018 Numerator: Net income $ 31,146 $ 24,762 $ 78,764 $ 84,126 Denominator: Weighted-average common shares outstanding 16,382,798 15,686,542 16,198,294 15,420,135 Effect of dilutive PBRSUs and TBRSUs 92,943 146,192 89,401 140,531 Weighted-average common shares outstanding adjusted for the effect of dilutive PBRSUs and TBRSUs 16,475,741 15,832,734 16,287,695 15,560,666 Earnings per common share: Basic earnings per common share $ 1.90 $ 1.58 $ 4.86 $ 5.46 Diluted earnings per common share $ 1.89 $ 1.56 $ 4.84 $ 5.41 Park awarded 58,740 and 48,053 PBRSUs to certain employees during the nine months ended September 30, 2019 and 2018, respectively. No PBRSUs were awarded during either of the three months ended September 30, 2019 and 2018. On April 1, 2019, Park issued 1,037,205 common shares to complete its acquisition of Carolina Alliance and granted 15,700 TBRSUs to Carolina Alliance Division employees. These common shares are included in average common shares outstanding beginning on that date. Park repurchased 84,603 and 421,253 common shares during the three and nine months ended September 30, 2019, respectively, to fund the PBRSUs, TBRSUs and common shares to be awarded to directors of Park and to directors of Park's subsidiary PNB (and its divisions) and pursuant to Park's previously announced stock repurchase authorizations. Park repurchased 50,000 common shares to fund the PBRSUs, TBRSUs and common shares to be awarded to directors of Park and to directors of Park's subsidiary PNB (and its divisions) during the nine months ended September 30, 2018. No common shares were repurchased during the three months ended September 30, 2018. |
Segment Information
Segment Information | 9 Months Ended |
Sep. 30, 2019 | |
Segment Reporting [Abstract] | |
Segment Information | Segment Information The Corporation is a financial holding company headquartered in Newark, Ohio. The reportable segments for the Corporation are its chartered national bank subsidiary, PNB (headquartered in Newark, Ohio), and Guardian Financial Services Company. "All Other", which primarily consists of Park as the "Parent Company" and SE Property Holdings, LLC, is shown to reconcile the segment totals to the consolidated condensed statements of income. Management is required to disclose information about the different types of business activities in which a company engages and also information on the different economic environments in which a company operates, so that the users of the financial statements can better understand the company’s performance, better understand the potential for future cash flows, and make more informed judgments about the company as a whole. Park has two reportable segments, as: (i) discrete financial information is available for each reportable segment and (ii) the segments are aligned with internal reporting to Park’s Chief Executive Officer, who is the chief operating decision maker. Operating Results for the three months ended September 30, 2019 (In thousands) PNB GFSC All Other Total Net interest income (expense) $ 76,180 $ 1,244 $ (323 ) $ 77,101 Provision for (recovery of) loan losses 2,320 143 (496 ) 1,967 Other income 24,842 59 3,235 28,136 Other expense 60,943 902 3,893 65,738 Income (loss) before income taxes $ 37,759 $ 258 $ (485 ) $ 37,532 Income tax expense (benefit) 6,811 55 (480 ) 6,386 Net income (loss) $ 30,948 $ 203 $ (5 ) $ 31,146 Assets (as of September 30, 2019) $ 8,673,919 $ 27,481 $ 22,210 $ 8,723,610 Operating Results for the three months ended September 30, 2018 (In thousands) PNB GFSC All Other Total Net interest income $ 66,195 $ 1,252 $ 229 $ 67,676 Provision for (recovery of) loan losses 2,935 183 (178 ) 2,940 Other income 22,559 63 1,442 24,064 Other expense 51,982 810 6,524 59,316 Income (loss) before income taxes $ 33,837 $ 322 $ (4,675 ) $ 29,484 Income tax expense (benefit) 5,981 68 (1,327 ) 4,722 Net income (loss) $ 27,856 $ 254 $ (3,348 ) $ 24,762 Assets (as of September 30, 2018) $ 7,707,474 $ 28,551 $ 20,466 $ 7,756,491 Operating Results for the nine months ended September 30, 2019 (In thousands) PNB GFSC All Other Total Net interest income (expense) $ 217,355 $ 3,786 $ (413 ) $ 220,728 Provision for (recovery of) loan losses 6,563 458 (637 ) 6,384 Other income 68,224 142 4,603 72,969 Other expense 172,931 2,638 17,188 192,757 Income (loss) before income taxes $ 106,085 $ 832 $ (12,361 ) $ 94,556 Income tax expense (benefit) 19,063 179 (3,450 ) 15,792 Net income (loss) $ 87,022 $ 653 $ (8,911 ) $ 78,764 Operating Results for the nine months ended September 30, 2018 (In thousands) PNB GFSC All Other Total Net interest income $ 190,319 $ 3,818 $ 3,131 $ 197,268 Provision for (recovery of) loan losses 4,491 773 (678 ) 4,586 Other income 64,544 135 9,530 74,209 Other expense 149,152 2,412 14,594 166,158 Income (loss) before income taxes $ 101,220 $ 768 $ (1,255 ) $ 100,733 Income tax expense (benefit) 17,822 162 (1,377 ) 16,607 Net income $ 83,398 $ 606 $ 122 $ 84,126 The operating results in the “All Other” column are used to reconcile the segment totals to the consolidated condensed statements of income for the three-month and nine-month periods ended September 30, 2019 and 2018 . The reconciling amounts for consolidated total assets for the periods ended September 30, 2019 and 2018 consisted of the elimination of intersegment borrowings and the assets of the Parent Company and SEPH which were not eliminated. |
Share Based Compensation
Share Based Compensation | 9 Months Ended |
Sep. 30, 2019 | |
Share-based Payment Arrangement [Abstract] | |
Share Based Compensation | Share-Based Compensation The Park National Corporation 2013 Long-Term Incentive Plan (the "2013 Incentive Plan") was adopted by the Board of Directors of Park on January 28, 2013 and was approved by Park's shareholders at the Annual Meeting of Shareholders on April 22, 2013. The 2013 Incentive Plan made equity-based awards and cash-based awards available for grant to participants (who could have been employees or non-employee directors) in the form of incentive stock options, nonqualified stock options, SARs, restricted common shares (“Restricted Stock”), restricted stock unit awards that may be settled in common shares, cash or a combination of the two (“Restricted Stock Units”), unrestricted common shares (“Other Stock-Based Awards”) and cash-based awards. Under the 2013 Incentive Plan, 600,000 common shares were authorized to be delivered in connection with grants under the 2013 Incentive Plan. The common shares to be delivered under the 2013 Incentive Plan are to consist of either common shares currently held or common shares subsequently acquired by Park as treasury shares, including common shares purchased in the open market or in private transactions. As of September 30, 2019, there were 60,805 common shares subject to PBRSUs issued under the 2013 Incentive Plan, which represented the only awards outstanding under the 2013 Incentive Plan. The Park National Corporation 2017 Long-Term Incentive Plan for Employees (the "2017 Employees LTIP") was adopted by the Board of Directors of Park on January 23, 2017 and was approved by Park's shareholders at the Annual Meeting of Shareholders on April 24, 2017. The 2017 Employees LTIP makes equity-based awards and cash-based awards available for grant to employee participants in the form of incentive stock options, nonqualified stock options, SARs, Restricted Stock, Restricted Stock Units, Other Stock-Based Awards and cash-based awards. Under the 2017 Employees LTIP, 750,000 common shares are authorized to be delivered in connection with grants under the 2017 Employees LTIP. The common shares to be delivered under the 2017 Employees LTIP are to consist of either common shares currently held or common shares subsequently acquired by Park as treasury shares, including common shares purchased in the open market or in private transactions. At September 30, 2019, 616,083 common shares were available for future grants under the 2017 Employees LTIP. The Park National Corporation 2017 Long-Term Incentive Plan for Non-Employee Directors (the "2017 Non-Employee Directors LTIP") was adopted by the Board of Directors of Park on January 23, 2017 and was approved by Park's shareholders at the Annual Meeting of Shareholders on April 24, 2017. The 2017 Non-Employee Directors LTIP makes equity-based awards and cash-based awards available for grant to non-employee director participants in the form of nonqualified stock options, SARs, Restricted Stock, Restricted Stock Units, Other Stock-Based Awards, and cash-based awards. Under the 2017 Non-Employee Directors LTIP, 150,000 common shares are authorized to be delivered in connection with grants under the 2017 Non-Employee Directors LTIP. The common shares to be delivered under the 2017 Non-Employee Directors LTIP are to consist of either common shares currently held or common shares subsequently acquired by Park as treasury shares, including common shares purchased in the open market or in private transactions. At September 30, 2019, 127,200 common shares were available for future grants under the 2017 Non-Employee Directors LTIP. The 2017 Employees LTIP and the 2017 Non-Employee Directors LTIP have replaced the provisions of the 2013 Incentive Plan with respect to the grant of future awards. As a result of the approval of the 2017 Employees LTIP and the 2017 Non-Employee Directors LTIP, Park has not granted and will not grant any additional awards under the 2013 Incentive Plan after April 24, 2017. Awards made under the 2013 Incentive Plan prior to April 24, 2017 will remain in effect in accordance with their respective terms. There were no awards granted during the three months ended September 30, 2019. During the nine months ended September 30, 2019, the Compensation Committee of the Board of Directors of Park granted awards of TBRSUs, under the 2017 Employees LTIP, covering an aggregate of 15,700 shares to Carolina Alliance Bank Division employees and granted awards of PBRSUs, under the 2017 Employees LTIP, covering an aggregate of 58,740 common shares to certain employees of Park and its subsidiaries. During the nine months ended September 30, 2018, the Compensation Committee of the Board of Directors of Park granted awards of PBRSUs, under the 2017 Employees LTIP, covering an aggregate of 48,053 common shares to certain employees of Park and its subsidiaries. Additionally, on July 1, 2018, Park granted 13,637 TBRSUs to NewDominion Bank Division employees. The number of PBRSUs earned or settled will depend on the level of achievement with respect to certain performance criteria and are also subject to subsequent service-based vesting. The number of TBRSUs earned or settled are subject to service-based vesting. A summary of changes in the common shares subject to nonvested PBRSUs and TBRSUs for the nine months ended September 30, 2019 follows: Common shares subject to PBRSUs and TBRSUs Nonvested at January 1, 2019 152,631 Granted 74,440 Vested (27,719 ) Forfeited (1,262 ) Adjustment for performance conditions of PBRSUs (1) (3,368 ) Nonvested at September 30, 2019 (2) 194,722 (1) The number of PBRSUs earned depends on the level of achievement with respect to certain performance criteria. Adjustment herein represents the difference between the maximum number of common shares which could be earned and the actual number earned for those PBRSUs as to which the performance period was completed. (2) Nonvested amount herein represents the maximum number of nonvested PBRSUs and TBRSUs. As of September 30, 2019, 176,007 PBRSUs and TBRSUs are expected to vest. On March 31, 2019, an aggregate of 27,719 of the PBRSUs granted in 2015 and 2016 vested in full due to the level of achievement with respect to certain performance criteria and the satisfaction of the service-based vesting requirement. A total of 8,736 common shares were withheld to satisfy employee income tax withholding obligations. This resulted in a net number of 18,983 common shares being issued to employees of Park. On March 31, 2018, 18,800 of the PBRSUs granted in 2014 and 2015 vested in full due to the level of achievement with respect to certain performance criteria and the satisfaction of the service-based vesting requirement. A total of 5,879 common shares were withheld to satisfy employee income tax withholding obligations. This resulted in a net number of 12,921 common shares being issued to employees of Park. Share-based compensation expense of $1.2 million and $1.0 million was recognized for the three-month periods ended September 30, 2019 and 2018, respectively, and $3.8 million and $3.1 million was recognized for the nine-month periods ended September 30, 2019 and 2018, respectively. The following table details expected additional share-based compensation expense related to PBRSUs and TBRSUs outstanding as of September 30, 2019: (In thousands) Three months ending December 31, 2019 $ 1,287 2020 4,047 2021 2,388 2022 1,038 2023 163 Total $ 8,923 |
Benefit Plan
Benefit Plan | 9 Months Ended |
Sep. 30, 2019 | |
Defined Benefit Plan [Abstract] | |
Benefit Plan | Benefit Plans Park has a noncontributory defined benefit pension plan (the "Pension Plan") covering substantially all of its employees. The Pension Plan provides benefits based on an employee’s years of service and compensation. There were no Pension Plan contributions for any of the three-month or nine-month periods ended September 30, 2019 and 2018 . The following table shows the components of net periodic pension benefit expense (income): Three Months Ended Nine Months Ended Affected Line Item in the Consolidated Condensed Statements of Income (In thousands) 2019 2018 2019 2018 Service cost $ 1,468 $ 1,637 $ 4,404 $ 4,911 Employee benefits Interest cost 1,373 1,309 4,119 3,927 Other components of net periodic pension benefit income Expected return on plan assets (3,026 ) (3,354 ) (9,078 ) (10,062 ) Other components of net Recognized net actuarial loss 470 340 1,410 1,020 Other components of net Net periodic pension benefit expense (income) $ 285 $ (68 ) $ 855 $ (204 ) Park has entered into Supplemental Executive Retirement Plan Agreements (the “SERP Agreements”) with certain key officers of the Corporation and its subsidiaries which provide defined pension benefits in excess of limits imposed by federal tax law. The expense for the Corporation related to the SERP Agreements for the three months and nine months ended September 30, 2019 and 2018 was as follows: Three Months Ended Nine Months Ended Affected Line Item in the Consolidated (In thousands) 2019 2018 2019 2018 Service cost $ 202 $ 157 $ 604 $ 635 Employee benefits Interest cost 165 188 495 349 Miscellaneous expense Total SERP expense $ 367 $ 345 $ 1,099 $ 984 |
Fair Value
Fair Value | 9 Months Ended |
Sep. 30, 2019 | |
Fair Value Disclosures [Abstract] | |
Fair Value | Fair Value The fair value hierarchy requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The three levels of inputs that Park uses to measure fair value are as follows: • Level 1: Quoted prices (unadjusted) for identical assets or liabilities in active markets that Park has the ability to access as of the measurement date. • Level 2: Level 1 inputs for assets or liabilities that are not actively traded. Also consists of an observable market price for a similar asset or liability. This includes the use of “matrix pricing” to value debt securities absent the exclusive use of quoted prices. • Level 3: Consists of unobservable inputs that are used to measure fair value when observable market inputs are not available. This could include the use of internally developed models, financial forecasting and similar inputs. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability (exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants at the balance sheet date. When possible, the Company looks to active and observable markets to price identical assets or liabilities. When identical assets and liabilities are not traded in active markets, the Company looks to observable market data for similar assets and liabilities. However, certain assets and liabilities are not traded in observable markets and Park must use other valuation methods to develop a fair value. The fair value of impaired loans is typically based on the fair value of the underlying collateral, which is estimated through third-party appraisals in accordance with Park's valuation requirements under its commercial and real estate loan policies. Assets and Liabilities Measured at Fair Value on a Recurring Basis : The following table presents assets and liabilities measured at fair value on a recurring basis: Fair Value Measurements at September 30, 2019 using: (In thousands) Level 1 Level 2 Level 3 Balance at September 30, 2019 Assets Investment securities: Obligations of states and political subdivisions — 321,905 321,905 U.S. Government sponsored entities’ asset-backed securities — 938,381 — 938,381 Equity securities 1,451 — 438 1,889 Mortgage loans held for sale — 21,986 — 21,986 Mortgage IRLCs — 422 — 422 Loan interest rate swaps — 2,506 — 2,506 Liabilities Fair value swap $ — $ — $ 226 $ 226 Borrowing interest rate swap — 704 — 704 Loan interest rate swaps — 2,506 — 2,506 Fair Value Measurements at December 31, 2018 using: (In thousands) Level 1 Level 2 Level 3 Balance at December 31, 2018 Assets Investment securities: U.S. Government sponsored entities’ asset-backed securities $ — $ 1,003,421 $ — $ 1,003,421 Equity securities 1,225 — 424 1,649 Mortgage loans held for sale — 4,158 — 4,158 Mortgage IRLCs — 87 — 87 Liabilities Fair value swap $ — $ — $ 226 $ 226 There were no transfers between Level 1 and Level 2 during any of the three -month or nine-month periods ended September 30, 2019 or 2018 . Management’s policy is to transfer assets or liabilities from one level to another when the methodology to obtain the fair value changes such that there are more or fewer unobservable inputs as of the end of the reporting period. The following methods and assumptions were used by the Company in determining the fair value of the financial assets and liabilities discussed above: Interest rate swaps: The fair values of interest rate swaps are based on valuation models using observable market data as of the measurement date (Level 2). Investment securities: Fair values for investment securities are based on quoted market prices, where available (Level 1). If quoted market prices are not available, fair values are based on quoted market prices of comparable instruments (Level 2). For securities where quoted prices or market prices of similar securities are not available, fair values are calculated using discounted cash flows (Level 3). Fair value swap: The fair value of the swap agreement entered into with the purchaser of the Visa Class B shares represents an internally developed estimate of the exposure based upon probability-weighted potential Visa litigation losses. Mortgage Interest Rate Lock Commitments: Mortgage IRLCs are based on current secondary market pricing and are classified as Level 2. Mortgage loans held for sale: Mortgage loans held for sale are carried at their fair value. Mortgage loans held for sale are estimated using security prices for similar product types and, therefore, are classified in Level 2. The tables below present a reconciliation of the beginning and ending balances of the Level 3 inputs for the three and nine months ended September 30, 2019 and 2018 , for financial instruments measured on a recurring basis and classified as Level 3: Level 3 Fair Value Measurements Three months ended September 30, 2019 and 2018 (In thousands) Equity Securities Fair value swap Balance at July 1, 2019 $ 433 $ (226 ) Total gains/(losses) Included in other income 5 — Balance at September 30, 2019 $ 438 $ (226 ) Balance at July 1, 2018 $ 420 $ (226 ) Total gains/(losses) Included in other income 4 — Balance at September 30, 2018 $ 424 $ (226 ) Level 3 Fair Value Measurements Nine months ended September 30, 2019 and 2018 (In thousands) Equity Securities Fair value swap Balance at January 1, 2019 $ 424 $ (226 ) Total gains/(losses) Included in other income 14 — Balance at September 30, 2019 $ 438 $ (226 ) Balance at January 1, 2018 $ 417 $ (226 ) Total gains/(losses) Included in other income 7 — Balance at September 30, 2018 $ 424 $ (226 ) Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis: The following methods and assumptions were used by the Company in determining the fair value of assets and liabilities measured at fair value on a nonrecurring basis described below: Impaired Loans: At the time a loan is considered impaired, it is valued at the lower of cost or fair value. Collateral dependent impaired loans carried at fair value have been partially charged-off or receive specific allocations of the allowance for loan losses. For collateral dependent loans, fair value is generally based on real estate appraisals. These appraisals may utilize a single valuation approach or a combination of approaches including the comparable sales approach and the income approach. Adjustments are routinely made in the appraisal process by the independent appraisers to adjust for differences between the comparable sales and income data available. Such adjustments result in a Level 3 classification of the inputs for determining fair value. Collateral is then adjusted or discounted based on management’s historical knowledge, changes in market conditions from the time of the valuation, and management’s expertise and knowledge of the client and client’s business, resulting in a Level 3 fair value classification. Impaired loans are evaluated on a quarterly basis for additional impairment and adjusted accordingly. Additionally, updated independent valuations are obtained annually for all impaired loans in accordance with Company policy. Other Real Estate Owned: Assets acquired through or in lieu of loan foreclosure are initially recorded at fair value less costs to sell when acquired. The carrying value of OREO is not re-measured to fair value on a recurring basis, but is subject to fair value adjustments when the carrying value exceeds the fair value, less estimated selling costs. Fair value is based on recent real estate appraisals and is updated at least annually. These appraisals may utilize a single valuation approach or a combination of approaches including the comparable sales approach and the income approach. Adjustments are routinely made in the appraisal process by the independent appraisers to adjust for differences between the comparable sales and income data available. Such adjustments result in a Level 3 classification of the inputs for determining fair value. Appraisals for both collateral dependent impaired loans and OREO are performed by licensed appraisers. Appraisals are generally obtained to support the fair value of collateral. In general, there are three types of appraisals received by the Company: real estate appraisals, income approach appraisals, and lot development loan appraisals. These are discussed below: • Real estate appraisals typically incorporate measures such as recent sales prices for comparable properties. Appraisers may make adjustments to the sales prices of the comparable properties as deemed appropriate based on the age, condition or general characteristics of the subject property. Management generally applies a 15% discount to real estate appraised values which management expects will cover all disposition costs (including selling costs). This 15% discount is based on historical discounts to appraised values on sold OREO properties. • Income approach appraisals typically incorporate the annual net operating income of the business divided by an appropriate capitalization rate, as determined by the appraiser. Management generally applies a 15% discount to income approach appraised values which management expects will cover all disposition costs (including selling costs). • Lot development loan appraisals are typically performed using a discounted cash flow analysis. Appraisers determine an anticipated absorption period and a discount rate that takes into account an investor’s required rate of return based on recent comparable sales. Management generally applies a 6% discount to lot development appraised values, which is an additional discount above the net present value calculation included in the appraisal, to account for selling costs. Other repossessed assets: Other repossessed assets are initially recorded at fair value less costs to sell when acquired. The carrying value of other repossessed assets is not re-measured to fair value on a recurring basis, but is subject to fair value adjustments when the carrying value exceeds the fair value, less estimated selling costs. As of September 30, 2019 and December 31, 2018 , other repossessed assets primarily consisted of aircraft acquired as part of a loan workout. Fair value is based on Aircraft Bluebook and VREF Aircraft Value Reference values based on the model of aircraft and adjustments for flight hours, features and other variables. Such adjustments result in a Level 3 classification of the inputs for determining fair value. MSRs: MSRs are carried at the lower of cost or fair value. MSRs do not trade in active, open markets with readily observable prices. For example, sales of MSRs do occur, but precise terms and conditions typically are not readily available. As such, management, with the assistance of a third-party specialist, determines fair value based on the discounted value of the future cash flows estimated to be received. Significant inputs include the discount rate and assumed prepayment speeds. The calculated fair value is then compared to market values where possible to ascertain the reasonableness of the valuation in relation to current market expectations for similar products. Accordingly, MSRs are classified as Level 2. The following tables present assets and liabilities measured at fair value on a nonrecurring basis. Collateral dependent impaired loans are carried at fair value if they have been charged down to fair value or if a specific valuation allowance has been established. As of September 30, 2019 , there were no PCI loans carried at fair value. A new cost basis is established at the time a property is initially recorded in OREO. OREO properties are carried at fair value if a devaluation has been taken with respect to the property's value subsequent to the initial measurement. Fair Value Measurements at September 30, 2019 using: (In thousands) Level 1 Level 2 Level 3 Balance at September 30, 2019 Impaired loans recorded at fair value: Commercial real estate $ — $ — $ 1,862 $ 1,862 Construction real estate — — 1,635 1,635 Residential real estate — — 182 182 Total impaired loans recorded at fair value $ — $ — $ 3,679 $ 3,679 MSRs $ — $ 7,462 $ — $ 7,462 OREO: Commercial real estate — — 2,385 2,385 Residential real estate — — 779 779 Total OREO recorded at fair value $ — $ — $ 3,164 $ 3,164 Other repossessed assets $ — $ — $ 3,598 $ 3,598 Fair Value Measurements at December 31, 2018 using: (In thousands) Level 1 Level 2 Level 3 Balance at December 31, 2018 Impaired loans recorded at fair value: Commercial real estate $ — $ — $ 4,059 $ 4,059 Construction real estate — — 1,635 1,635 Residential real estate — — 705 705 Total impaired loans recorded at fair value $ — $ — $ 6,399 $ 6,399 MSRs $ — $ 1,169 $ — $ 1,169 OREO: Commercial real estate — — 2,295 2,295 Construction real estate — — 729 729 Residential real estate — — 650 650 Total OREO recorded at fair value $ — $ — $ 3,674 $ 3,674 Other repossessed assets $ — $ — $ 3,464 $ 3,464 The table below provides additional detail on those impaired loans which are recorded at fair value as well as the remaining impaired loan portfolio not included above. The remaining impaired loans consist of loans which are not collateral dependent as well as loans carried at cost as the fair value of the underlying collateral or the present value of expected future cash flows on each of the loans exceeded the book value for each respective credit. September 30, 2019 (In thousands) Recorded Investment Prior Charge-Offs Specific Valuation Allowance Carrying Balance Impaired loans recorded at fair value $ 3,820 $ 3,126 $ 141 $ 3,679 Remaining impaired loans 70,658 2,507 2,942 67,716 Total impaired loans $ 74,478 $ 5,633 $ 3,083 $ 71,395 December 31, 2018 (In thousands) Recorded Investment Prior Charge-Offs Specific Valuation Allowance Carrying Balance Impaired loans recorded at fair value $ 6,503 $ 3,630 $ 104 $ 6,399 Remaining impaired loans 41,641 7,616 2,169 39,472 Total impaired loans $ 48,144 $ 11,246 $ 2,273 $ 45,871 The expense from credit adjustments related to impaired loans carried at fair value was $0.1 million for both of the three -month periods ended September 30, 2019 and 2018 . The expense from credit adjustments related to impaired loans carried at fair value during the nine months ended September 30, 2019 and 2018 was $0.2 million and $0.3 million , respectively. MSRs totaled $10.0 million at September 30, 2019 . Of this $10.0 million MSR carrying balance, $7.5 million was recorded at fair value and included a valuation allowance of $0.7 million . The remaining $2.5 million was recorded at cost, as the fair value of the MSRs exceeded cost at September 30, 2019 . At December 31, 2018 , MSRs totaled $10.2 million . Of this $10.2 million MSR carrying balance, $1.2 million was recorded at fair value and included a valuation allowance of $0.2 million . The remaining $9.0 million was recorded at cost, as the fair value exceeded cost at December 31, 2018 . The expense related to MSRs carried at fair value during the three months ended September 30, 2019 and 2018 was $332,000 and $26,000 , respectively. The expense (income) related to MSRs carried at fair value during the nine months ended September 30, 2019 and 2018 was $421,000 and $(356,000) , respectively. Total OREO held by Park at September 30, 2019 and December 31, 2018 was $3.8 million and $4.3 million , respectively. Approximately 84% and 85% of OREO held by Park at September 30, 2019 and December 31, 2018 , respectively, was carried at fair value due to fair value adjustments made subsequent to the initial OREO measurement. At September 30, 2019 and December 31, 2018 , OREO held at fair value, less estimated selling costs, amounted to $3.2 million and $3.7 million , respectively. The net expense related to OREO fair value adjustments was $41,000 and $77,000 for the three -month periods ended September 30, 2019 and 2018 , respectively. The net expense related to OREO fair value adjustments was $123,000 and $398,000 for the nine -month periods ended September 30, 2019 and 2018 , respectively. Other repossessed assets totaled $4.0 million at September 30, 2019 , of which $3.6 million was recorded at fair value. Other repossessed assets totaled $4.0 million at December 31, 2018 , of which $3.5 million was recorded at fair value. There was no expense related to fair value adjustments on other repossessed assets for the three -month and nine -month periods ended September 30, 2019 . Expense related to fair value adjustments on other repossessed assets for each of the three -month periods and nine -month periods ended September 30, 2018 was $0.3 million . The following tables present qualitative information about Level 3 fair value measurements for financial instruments measured at fair value on a nonrecurring basis at September 30, 2019 and December 31, 2018 : September 30, 2019 (In thousands) Fair Value Valuation Technique Unobservable Input(s) Range (Weighted Average) Impaired loans: Commercial real estate $ 1,861 Sales comparison approach Adj to comparables 0.0% - 89.6% (28.1%) Income approach Capitalization rate 10.6% (10.6%) Cost approach Accumulated depreciation 60.0% - 93.1% (72.4%) Construction real estate $ 1,635 Sales comparison approach Adj to comparables 0.1% - 72.4% (38.5%) Residential real estate $ 182 Sales comparison approach Adj to comparables 0.0% - 53.5% (13.8%) Other real estate owned: Commercial real estate $ 2,385 Sales comparison approach Adj to comparables 0.9% - 68.4% (31.1%) Income approach Capitalization rate 10.0% - 13.0% (12.8%) Residential real estate $ 779 Sales comparison approach Adj to comparables 1.9% - 54.6% (34.6%) Balance at December 31, 2018 (In thousands) Fair Value Valuation Technique Unobservable Input(s) Range (Weighted Average) Impaired loans: Commercial real estate $ 4,059 Sales comparison approach Adj to comparables 0.0% - 107.5% (31.1%) Income approach Capitalization rate 9.5% - 10.8% (10.6%) Cost approach Accumulated depreciation 4.2% - 90.1% (11.0%) Construction real estate $ 1,635 Sales comparison approach Adj to comparables 5.0% - 90.0% (26.1%) Residential real estate $ 705 Sales comparison approach Adj to comparables 0.0% - 40.0% (13.2%) Income approach Capitalization rate 10.5% (10.5%) Other real estate owned: Commercial real estate $ 2,295 Sales comparison approach Adj to comparables 0.9% - 68.4% (34.7%) Income approach Capitalization rate 13.0% (13.0%) Construction real estate $ 729 Sales comparison approach Adj to comparables 0.0% - 45.0% (21.7%) Residential real estate $ 650 Sales comparison approach Adj to comparables 30.4% - 54.6% (42.5%) Assets Measured at Net Asset Value: Park's portfolio of equity investments in limited partnerships which provide mezzanine funding ("Partnership Investments") are valued using the NAV practical expedient in accordance with ASC 820. As of September 30, 2019 and December 31, 2018 , Park had Partnership Investments with a NAV of $12.4 million and $11.0 million , respectively. As of September 30, 2019 and December 31, 2018 , Park had $3.6 million and $6.1 million , respectively, in unfunded commitments related to these Partnership Investments. For the three -month periods ended September 30, 2019 and 2018 , Park recognized income of $3.3 million and $0.4 million , respectively, related to these Partnership Investments. For the nine -month periods ended September 30, 2019 and 2018 , Park recognized income of $5.1 million and $1.2 million , respectively, related to these Partnership Investments. The fair value of certain financial instruments at September 30, 2019 and December 31, 2018 , was as follows: September 30, 2019 Fair Value Measurements (In thousands) Carrying value Level 1 Level 2 Level 3 Total fair value Financial assets: Cash and money market instruments $ 372,726 $ 372,726 $ — $ — $ 372,726 Investment securities (1) 1,260,286 — 1,260,286 — 1,260,286 Other investment securities (2) 1,889 1,451 — 438 1,889 Loans held for sale 21,986 — 21,986 — 21,986 Mortgage IRLCs 422 — 422 — 422 Impaired loans carried at fair value 3,678 — — 3,679 3,679 Other loans, net 6,321,708 — — 6,325,294 6,325,294 Loans receivable, net $ 6,347,794 $ — $ 22,408 $ 6,328,973 $ 6,351,381 Financial liabilities: Time deposits 1,127,366 — 1,133,648 — 1,133,648 Other 5,271 5,271 — — 5,271 Deposits (excluding demand deposits) $ 1,132,637 $ 5,271 $ 1,133,648 $ — $ 1,138,919 Short-term borrowings $ 185,838 $ — $ 185,838 $ — $ 185,838 Long-term debt 297,500 — 307,047 — 307,047 Subordinated notes 15,000 — 13,810 — 13,810 Derivative financial instruments - assets: Loan interest rate swaps $ 2,506 $ — $ 2,506 $ — $ 2,506 Derivative financial instruments - liabilities: Fair value swap $ 226 $ — $ — $ 226 $ 226 Borrowing interest rate swap 704 — 704 — 704 Loan interest rate swaps 2,506 — 2,506 — 2,506 (1) Includes AFS debt securities. (2) Excludes FHLB stock and FRB stock which are carried at their respective redemption values, investment securities accounted for at modified cost as these investments do not have a readily determinable fair value, and Partnership Investments valued using the NAV practical expedient. December 31, 2018 Fair Value Measurements (In thousands) Carrying value Level 1 Level 2 Level 3 Total fair value Financial assets: Cash and money market instruments $ 167,214 $ 167,214 $ — $ — $ 167,214 Investment securities (1) 1,355,229 — 1,354,843 — 1,354,843 Other investment securities (2) 1,649 1,225 — 424 1,649 Loans held for sale 4,158 — 4,158 — 4,158 Mortgage IRLCs 87 — 87 — 87 Impaired loans carried at fair value 6,399 — — 6,399 6,399 Other loans, net 5,629,976 — — 5,570,136 5,570,136 Loans receivable, net $ 5,640,620 $ — $ 4,245 $ 5,576,535 $ 5,580,780 Financial liabilities: Time deposits $ 1,043,177 $ — $ 1,044,620 — $ 1,044,620 Other 1,267 1,267 — — 1,267 Deposits (excluding demand deposits) $ 1,044,444 $ 1,267 $ 1,044,620 $ — $ 1,045,887 Short-term borrowings $ 221,966 $ — $ 221,966 $ — $ 221,966 Long-term debt 400,000 — 400,203 — 400,203 Subordinated notes 15,000 — 12,959 — 12,959 Derivative financial instruments: Fair value swap $ 226 $ — $ — $ 226 $ 226 (1) Includes AFS debt securities and HTM debt securities. (2) Excludes FHLB stock and FRB stock which are carried at their respective redemption values, investment securities accounted for at modified cost as these investments do not have a readily determinable fair value, and Partnership Investments valued using the NAV practical expedient. |
Revenue from Contracts with Cus
Revenue from Contracts with Customers | 9 Months Ended |
Sep. 30, 2019 | |
Revenue from Contract with Customer [Abstract] | |
Revenue from Contracts with Customers | Revenue from Contracts with Customers All of Park's revenue from contracts with customers within the scope of ASC 606 is recognized within "Other income" in the Consolidated Condensed Statements of Income. The following table presents the Corporation's sources of other income by revenue stream and operating segment for the three -month and nine -month periods ended September 30, 2019 and September 30, 2018 . Three Months Ended Revenue by Operating Segment (in thousands) PNB GFSC All Other Total Income from fiduciary activities Personal trust and agency accounts $ 2,151 $ — $ — $ 2,151 Employee benefit and retirement-related accounts 1,753 — — 1,753 Investment management and investment advisory agency accounts 2,547 — — 2,547 Other 391 — — 391 Service charges on deposit accounts Non-sufficient funds (NSF) fees 1,911 — — 1,911 Demand deposit account (DDA) charges 784 — — 784 Other 169 — — 169 Other service income (1) Credit card 586 1 — 587 HELOC 71 — 1 72 Installment 62 — (88 ) (26 ) Real estate 3,226 — (1 ) 3,225 Commercial 262 — 140 402 Debit card fee income 5,313 — — 5,313 Bank owned life insurance income (2) 1,021 — 86 1,107 ATM fees 482 — — 482 OREO valuation adjustments (2) (41 ) — — (41 ) Loss on sale of OREO, net (53 ) — — (53 ) Net gain on sale of investment securities (2) 186 — — 186 Gain on equity securities, net (2) 240 — 3,095 3,335 Other components of net periodic pension benefit income (2) 1,147 13 23 1,183 Miscellaneous (3) 2,634 45 (21 ) 2,658 Total other income $ 24,842 $ 59 $ 3,235 $ 28,136 (1) Of the $4.3 million of aggregate revenue included within "Other service income", approximately $1.3 million is within the scope of ASC 606, with the remaining $3.0 million consisting primarily of residential real estate loan fees which are out of scope. (2) Not within the scope of ASC 606. (3) "Miscellaneous" income includes brokerage income, safe deposit box rentals, and miscellaneous bank fees totaling $2.7 million , all of which are within scope of ASC 606. Three Months Ended Revenue by Operating Segment (in thousands) PNB GFSC All Other Total Income from fiduciary activities Personal trust and agency accounts $ 1,994 $ — $ — $ 1,994 Employee benefit and retirement-related accounts 1,703 — — 1,703 Investment management and investment advisory agency accounts 2,353 — — 2,353 Other 368 — — 368 Service charges on deposit accounts Non-sufficient funds (NSF) fees 1,926 — — 1,926 Demand deposit account (DDA) charges 764 — — 764 Other 171 — — 171 Other service income (1) Credit card 592 6 — 598 HELOC 128 — — 128 Installment 60 — 6 66 Real estate 2,145 — — 2,145 Commercial 291 — 18 309 Debit card fee income 4,352 — — 4,352 Bank owned life insurance income (2) 960 — 1,625 2,585 ATM fees 500 — — 500 OREO valuation adjustments (2) (78 ) — 1 (77 ) Gain (loss) on sale of OREO, net 36 — (117 ) (81 ) Gain (loss) on equity securities, net (2) 228 — (139 ) 89 Other components of net periodic pension benefit income (2) 1,653 18 34 1,705 Miscellaneous (3) 2,413 39 14 2,466 Total other income $ 22,559 $ 63 $ 1,442 $ 24,064 (1) Of the $3.2 million of aggregate revenue included within "Other service income", approximately $1.1 million is within the scope of ASC 606, with the remaining $2.1 million consisting primarily of residential real estate loan fees which are out of scope. (2) Not within the scope of ASC 606. (3) "Miscellaneous" income includes brokerage income, safe deposit box rentals, and miscellaneous bank fees totaling $2.5 million , all of which are within scope of ASC 606. Nine Months Ended Revenue by Operating Segment (in thousands) PNB GFSC All Other Total Income from fiduciary activities Personal trust and agency accounts $ 6,757 $ — $ — $ 6,757 Employee benefit and retirement-related accounts 5,185 — — 5,185 Investment management and investment advisory agency accounts 7,421 — — 7,421 Other 1,137 — — 1,137 Service charges on deposit accounts Non-sufficient funds (NSF) fees 5,241 — — 5,241 Demand deposit account (DDA) charges 2,336 — — 2,336 Other 501 — — 501 Other service income (1) Credit card 1,785 5 — 1,790 HELOC 282 — 4 286 Installment 203 — (83 ) 120 Real estate 7,890 — (10 ) 7,880 Commercial 901 — 141 1,042 Debit card fee income 14,909 — — 14,909 Bank owned life insurance income (2) 3,116 — 283 3,399 ATM fees 1,382 — — 1,382 OREO valuation adjustments (2) (123 ) — — (123 ) Loss on sale of OREO, net (84 ) — (140 ) (224 ) Net loss on sale of investment securities (2) (421 ) — — (421 ) Gain on equity securities, net (2) 972 — 4,337 5,309 Other components of net periodic pension benefit income (2) 3,440 40 69 3,549 Miscellaneous (3) 5,394 97 2 5,493 Total other income $ 68,224 $ 142 $ 4,603 $ 72,969 (1) Of the $11.1 million of aggregate revenue included within "Other service income", approximately $4.0 million is within the scope of ASC 606, with the remaining $7.1 million consisting primarily of residential real estate loan fees which are out of scope. (2) Not within the scope of ASC 606. (3) "Miscellaneous" income includes brokerage income, safe deposit box rentals, and miscellaneous bank fees totaling $5.5 million , all of which are within scope of ASC 606. Nine Months Ended Revenue by Operating Segment (in thousands) PNB GFSC All Other Total Income from fiduciary activities Personal trust and agency accounts $ 6,383 $ — $ — $ 6,383 Employee benefit and retirement-related accounts 5,003 — — 5,003 Investment management and investment advisory agency accounts 6,936 — — 6,936 Other 1,157 — — 1,157 Service charges on deposit accounts Non-sufficient funds (NSF) fees 5,608 — — 5,608 Demand deposit account (DDA) charges 2,503 — — 2,503 Other 498 — — 498 Other service income (1) Credit card 1,652 20 — 1,672 HELOC 345 — — 345 Installment 197 — 6 203 Real estate 6,748 — — 6,748 Commercial 847 — 1,075 1,922 Debit card fee income 12,736 — — 12,736 Bank owned life insurance income (2) 2,822 — 1,803 4,625 ATM fees 1,534 — — 1,534 OREO valuation adjustments (2) (179 ) — (219 ) (398 ) Gain on sale of OREO, net 1,442 — 2,651 4,093 Net loss on sale of investment securities (2) (2,271 ) — — (2,271 ) Gain on equity securities, net (2) 520 — 4,113 4,633 Other components of net periodic pension benefit income (2) 4,957 56 102 5,115 Miscellaneous (3) 5,106 59 (1 ) 5,164 Total other income $ 64,544 $ 135 $ 9,530 $ 74,209 (1) Of the $10.9 million of aggregate revenue included within "Other service income", approximately $4.4 million is within the scope of ASC 606, with the remaining $6.5 million consisting primarily of residential real estate loan fees which are out of scope. (2) Not within the scope of ASC 606. (3) "Miscellaneous" income includes brokerage income, safe deposit box rentals, and miscellaneous bank fees totaling $5.2 million , all of which are within the scope of ASC 606 . A description of Park's revenue streams accounted for under ASC 606 follows: Income from fiduciary activities (gross) : Park earns fiduciary fee income and investment brokerage fees from its contracts with trust customers for various fiduciary and investment-related services. These fees are earned over time as the Company provides the contracted monthly and quarterly services and are generally assessed based on the market value of the trust assets. Service charges on deposit accounts and ATM fees : The Corporation earns fees from its deposit customers for transaction-based, account maintenance, and overdraft services. Transaction-based fees, which include services such as ATM use fees, stop payment charges, statement rendering, and ACH fees, are recognized at the time the transaction is executed as that is the point in time the Corporation fulfills the customer's request. Account maintenance fees, which relate primarily to monthly maintenance, are generally recognized at the end of the month, representing the period over which the Corporation satisfies the performance obligation. Overdraft fees are recognized at the point in time that the overdraft occurs. Service charges on deposits are withdrawn from the customer's account balance. Other service income : Other service income includes income from (1) the sale and servicing of loans sold to the secondary market, (2) incentive income from third-party credit card issuers, and (3) loan customers for various loan-related activities and services. These fees are generally recognized at a point in time following the completion of a loan sale or related service activity. Debit card fee income : Park earns interchange fees from debit cardholder transactions conducted primarily through the Visa payment network. Interchange fees from cardholder transactions represent a percentage of the underlying transaction value and are recognized daily, net of card network fees, concurrently with the transaction processing services provided to the cardholder. Gain or loss on sale of OREO, net |
Business Combinations (Tables)
Business Combinations (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Business Acquisition [Line Items] | |
Schedule of Business Acquisitions, by Acquisition [Table Text Block] | The following table summarizes the consideration paid for Carolina Alliance and the amounts of the assets acquired and liabilities assumed at their fair value: (in thousands) Consideration Cash $ 28,630 Park common shares 98,275 Fair value of total consideration transferred $ 126,905 Recognized amounts of identifiable assets acquired and liabilities assumed Cash and cash equivalents $ 23,799 Securities 97,606 Loans 578,577 Premises and equipment 8,337 Core deposit intangibles 10,251 Other assets 31,675 Total assets acquired 750,245 Deposits 632,649 Other liabilities 35,951 Total liabilities assumed 668,600 Net identifiable assets 81,645 Goodwill $ 45,260 The table below presents information with respect to the fair value of acquired loans as well as their book balance at the acquisition date. (in thousands) Book Balance Fair Value Commercial, financial and agricultural $ 79,537 $ 79,373 Commercial real estate 281,425 273,855 Construction real estate: Commercial 43,106 42,176 Mortgage 11,130 10,633 Residential real estate: Commercial 48,546 48,684 Mortgage 30,519 30,969 HELOC 40,227 39,526 Consumer 4,813 4,647 Leases 28,589 28,781 Purchased credit impaired 21,806 19,933 Total loans $ 589,698 $ 578,577 The following table summarizes the consideration paid for NewDominion and the amounts of the assets acquired and liabilities assumed at their fair value: (in thousands) Consideration Cash $ 30,684 Park common shares 48,519 Previous 8.55% investment in NewDominion 7,000 Fair value of total consideration transferred $ 86,203 Recognized amounts of identifiable assets acquired and liabilities assumed Cash and cash equivalents $ 42,954 Securities 1,954 Loans 272,753 Premises and equipment 940 Core deposit intangibles 6,249 Trade name intangible 1,300 Other assets 6,133 Total assets acquired 332,283 Deposits 284,231 Other liabilities 2,254 Total liabilities assumed 286,485 Net identifiable assets 45,798 Goodwill $ 40,405 The table below presents information with respect to the fair value of acquired loans as well as their book balance at the acquisition date. (in thousands) Book Balance Fair Value Commercial, financial and agricultural $ 19,246 $ 19,138 Commercial real estate 119,434 117,638 Construction real estate: Commercial 22,494 22,235 Mortgage 8,391 8,111 Residential real estate: Commercial 14,798 14,797 Mortgage 50,295 48,714 HELOC 37,651 36,688 Consumer 541 539 Purchased credit impaired 5,069 4,893 Total loans $ 277,919 $ 272,753 |
Business Acquisition, Pro Forma Information [Table Text Block] | The following table presents supplemental pro forma information as if the NewDominion and Carolina Alliance acquisitions had occurred as of January 1, 2018. The unaudited pro forma information includes adjustments for interest income on loans and securities acquired, amortization of intangibles arising from the respective transactions, depreciation expense on property acquired, interest expense on deposits acquired, and the related tax effects. The pro forma information is not necessarily indicative of the results of operations that would have occurred had the transactions been effected on the assumed date. Nine months ended September 30, (dollars in thousands, except per share data) 2019 2018 Net interest income $ 227,585 $ 225,753 Net income $ 85,720 $ 94,509 Basic earnings per share $ 5.18 $ 5.64 Diluted earnings per share $ 5.15 $ 5.59 |
Investment Securities (Tables)
Investment Securities (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Investments, Debt and Equity Securities [Abstract] | |
Schedule Of Investment Securities | Investment securities at September 30, 2019 , were as follows: Debt Securities AFS (In thousands) Amortized Cost Gross Unrealized Holding Gains Gross Unrealized Holding Losses Estimated Fair Value Obligations of states and political subdivisions $ 303,522 $ 18,383 $ — $ 321,905 U.S. Government sponsored entities' asset-backed securities 934,468 10,373 6,460 938,381 Total $ 1,237,990 $ 28,756 $ 6,460 $ 1,260,286 Investment securities at December 31, 2018 , were as follows: Debt Securities AFS (In thousands) Amortized Cost Gross Gross Estimated Fair Value U.S. Government sponsored entities' asset-backed securities $ 1,028,883 $ 453 $ 25,915 $ 1,003,421 Total $ 1,028,883 $ 453 $ 25,915 $ 1,003,421 Debt Securities HTM (In thousands) Amortized Cost Gross Gross Estimated Fair Value Obligations of states and political subdivisions $ 305,278 $ 3,202 $ 2,672 $ 305,808 U.S. Government sponsored entities' asset-backed securities 46,530 87 1,003 45,614 Total $ 351,808 $ 3,289 $ 3,675 $ 351,422 |
Schedule Of Unrealized Loss On Securities | Investment securities with unrealized losses at September 30, 2019 , were as follows: Unrealized loss position for less than 12 months Unrealized loss position for 12 months or longer Total (In thousands) Fair value Unrealized losses Fair value Unrealized Fair value Unrealized Debt Securities AFS U.S. Government sponsored entities' asset-backed securities $ 251,414 $ 1,095 $ 181,807 $ 5,365 $ 433,221 $ 6,460 Total $ 251,414 $ 1,095 $ 181,807 $ 5,365 $ 433,221 $ 6,460 Investment securities with unrealized/unrecognized losses at December 31, 2018 , were as follows: Unrealized/unrecognized loss position for less than 12 months Unrealized/unrecognized loss position for 12 months or longer Total (In thousands) Fair value Unrealized/unrecognized Fair value Unrealized/unrecognized Fair Unrealized/unrecognized Debt Securities AFS U.S. Government sponsored entities' asset-backed securities $ 506,280 $ 5,998 $ 449,569 $ 19,917 $ 955,849 $ 25,915 Total $ 506,280 $ 5,998 $ 449,569 $ 19,917 $ 955,849 $ 25,915 Debt Securities HTM Obligations of states and political subdivisions $ 91,960 $ 1,095 $ 70,723 $ 1,577 $ 162,683 $ 2,672 U.S. Government sponsored entities' asset-backed securities 32,656 838 6,931 165 39,587 1,003 Total $ 124,616 $ 1,933 $ 77,654 $ 1,742 $ 202,270 $ 3,675 |
Amortized Cost And Estimated Fair Value Of Investments In Debt Securities By Contractual Maturity | The amortized cost and estimated fair value of investments in debt securities at September 30, 2019 , are shown in the following table by contractual maturity, except for asset-backed securities, which are shown as a single total, due to the unpredictability of the timing of principal repayments. Securities AFS (In thousands) Amortized cost Fair value Tax equivalent yield (1) U.S. Government sponsored entities' asset-backed securities $ 934,468 $ 938,381 2.37 % Obligations of state and political subdivisions: Due five through ten years $ 3,998 $ 4,140 3.04 % Due over ten years 299,524 317,765 3.69 % Total (1) $ 303,522 $ 321,905 3.68 % |
Other Investment Securities (Ta
Other Investment Securities (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Other Investment Securities [Abstract] | |
Schedule Of Other Investment Securities | The carrying amount of other investment securities at September 30, 2019 and December 31, 2018 was as follows: (In thousands) September 30, 2019 December 31, 2018 FHLB stock $ 33,424 $ 43,388 FRB stock 14,653 8,225 Equity investments carried at fair value 1,889 1,649 Equity investments carried at cost/modified cost (1) 2,689 2,589 Equity investments carried at net asset value 15,989 17,065 Total other investment securities $ 68,644 $ 72,916 (1) There have been no impairments, downward adjustments, or upward adjustments made to equity investments carried at modified cost. |
Loans (Tables)
Loans (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | |
Composition Of Loan Portfolio By Class Of Loan | The composition of the loan portfolio, by class of loan, as of September 30, 2019 and December 31, 2018 was as follows: September 30, 2019 December 31, 2018 (In thousands) Loan Balance Accrued Interest Receivable Recorded Investment Loan Balance Accrued Interest Receivable Recorded Investment Commercial, financial and agricultural * $ 1,140,138 $ 5,404 $ 1,145,542 $ 1,072,786 $ 4,603 $ 1,077,389 Commercial real estate * 1,599,697 5,767 1,605,464 1,283,045 4,750 1,287,795 Construction real estate: Commercial 223,603 777 224,380 175,300 801 176,101 Mortgage 92,985 232 93,217 70,541 151 70,692 Installment 1,581 5 1,586 2,433 7 2,440 Residential real estate: Commercial 465,656 1,199 466,855 429,730 1,150 430,880 Mortgage 1,174,421 1,529 1,175,950 1,134,278 1,227 1,135,505 HELOC 231,007 1,185 232,192 215,283 1,159 216,442 Installment 13,027 34 13,061 14,327 36 14,363 Consumer 1,430,400 3,946 1,434,346 1,292,136 3,756 1,295,892 Leases 31,132 30 31,162 2,273 26 2,299 Total loans $ 6,403,647 $ 20,108 $ 6,423,755 $ 5,692,132 $ 17,666 $ 5,709,798 * Included within each of commercial, financial and agricultural loans and commercial real estate loans is an immaterial amount of consumer loans that are not broken out by class. |
Recorded Investment In Nonaccrual Restructured And Loans Past Due 90 Days Or More And Accruing | The following tables present the recorded investment in nonaccrual loans, accruing TDRs, and loans past due 90 days or more and still accruing by class of loan as of September 30, 2019 and December 31, 2018 : September 30, 2019 (In thousands) Nonaccrual Loans Accruing TDRs Loans Past Due 90 Days or More and Accruing Total Nonperforming Loans Commercial, financial and agricultural $ 28,099 $ 3,430 $ — $ 31,529 Commercial real estate 36,663 2,136 625 39,424 Construction real estate: Commercial 1,786 82 235 2,103 Mortgage 27 7 — 34 Installment 73 6 12 91 Residential real estate: Commercial 2,224 14 — 2,238 Mortgage 15,367 8,821 1,641 25,829 HELOC 1,700 1,021 56 2,777 Installment 512 1,915 — 2,427 Consumer 3,016 1,053 570 4,639 Leases 88 — 209 297 Total loans $ 89,555 $ 18,485 $ 3,348 $ 111,388 December 31, 2018 (In thousands) Nonaccrual Loans Accruing TDRs Loans Past Due 90 Days or More and Accruing Total Nonperforming Loans Commercial, financial and agricultural $ 14,998 $ 196 $ 10 $ 15,204 Commercial real estate 25,566 2,860 — 28,426 Construction real estate: Commercial 1,866 — — 1,866 Mortgage — 15 20 35 Installment 19 9 — 28 Residential real estate: Commercial 2,610 122 — 2,732 Mortgage 16,892 9,100 1,124 27,116 HELOC 2,158 1,028 9 3,195 Installment 468 1,049 24 1,541 Consumer 3,377 843 1,115 5,335 Leases — — — — Total loans $ 67,954 $ 15,222 $ 2,302 $ 85,478 |
Loans Individually And Collectively Evaluated For Impairment | The following table provides additional information regarding those nonaccrual loans and accruing TDR loans that were individually evaluated for impairment and those collectively evaluated for impairment, as of September 30, 2019 and December 31, 2018 . September 30, 2019 December 31, 2018 (In thousands) Nonaccrual and Accruing TDRs Loans Individually Evaluated for Impairment Loans Collectively Evaluated for Impairment Nonaccrual and Accruing TDRs Loans Individually Evaluated for Impairment Loans Collectively Evaluated for Impairment Commercial, financial and agricultural $ 31,529 $ 31,485 $ 44 $ 15,194 $ 15,120 $ 74 Commercial real estate 38,799 38,799 — 28,426 28,426 — Construction real estate: Commercial 1,868 1,868 — 1,866 1,866 — Mortgage 34 — 34 15 — 15 Installment 79 — 79 28 — 28 Residential real estate: Commercial 2,238 2,238 — 2,732 2,732 — Mortgage 24,188 — 24,188 25,992 — 25,992 HELOC 2,721 — 2,721 3,186 — 3,186 Installment 2,427 — 2,427 1,517 — 1,517 Consumer 4,069 — 4,069 4,220 — 4,220 Leases 88 88 — — — — Total loans $ 108,040 $ 74,478 $ 33,562 $ 83,176 $ 48,144 $ 35,032 |
Loans Individually Evaluated For Impairment By Class Of Loans | The following table presents loans individually evaluated for impairment by class of loan, together with the related allowance recorded, as of September 30, 2019 and December 31, 2018 . September 30, 2019 December 31, 2018 (In thousands) Unpaid Principal Balance Recorded Investment Allowance for Loan Losses Allocated Unpaid Principal Balance Recorded Investment Allowance for Loan Losses Allocated With no related allowance recorded: Commercial, financial and agricultural $ 19,140 $ 18,783 $ — $ 8,999 $ 3,713 $ — Commercial real estate 38,723 38,519 — 26,663 26,213 — Construction real estate: Commercial 4,682 1,868 — 4,679 1,866 — Residential real estate: Commercial 2,101 2,035 — 2,691 2,374 — Leases — — — — — — With an allowance recorded: Commercial, financial and agricultural 14,839 12,702 2,917 13,736 11,407 2,169 Commercial real estate 280 280 30 2,255 2,213 86 Construction real estate: Commercial — — — — — — Residential real estate: Commercial 203 203 111 358 358 18 Leases 88 88 25 — — — Total $ 80,056 $ 74,478 $ 3,083 $ 59,381 $ 48,144 $ 2,273 |
Average Recorded Investment And Interest Income Recognized On Loans Individually Evaluated For Impairment | The following table presents the average recorded investment and interest income recognized subsequent to impairment on loans individually evaluated for impairment as of and for the three and nine months ended September 30, 2019 and September 30, 2018 : Three Months Ended Three Months Ended (In thousands) Recorded Investment as of September 30, 2019 Average Recorded Investment Interest Income Recognized Recorded Investment as of September 30, 2018 Average Recorded Investment Interest Income Recognized Commercial, financial and agricultural $ 31,485 $ 23,468 $ 107 $ 16,026 $ 23,247 $ 187 Commercial real estate 38,799 29,779 277 25,805 26,428 268 Construction real estate: Commercial 1,868 1,922 1 2,016 2,246 4 Residential real estate: Commercial 2,238 1,977 27 2,913 2,758 26 Leases 88 90 — — — — Total $ 74,478 $ 57,236 $ 412 $ 46,760 $ 54,679 $ 485 Nine Months Ended Nine Months Ended (In thousands) Recorded Investment as of September 30, 2019 Average Recorded Investment Interest Income Recognized Recorded Investment as of September 30, 2018 Average Recorded Investment Interest Income Recognized Commercial, financial and agricultural $ 31,485 $ 18,368 $ 244 — $ 16,026 $ 22,686 $ 506 Commercial real estate 38,799 29,712 803 — 25,805 21,582 671 Construction real estate: Commercial 1,868 2,176 23 — 2,016 1,661 31 Residential real estate: Commercial 2,238 2,198 72 — 2,913 6,086 84 Leases 88 36 — — — — Total $ 74,478 $ 52,490 $ 1,142 — $ 46,760 $ 52,015 $ 1,292 |
Aging Of Recorded Investment In Past Due Loans | The following tables present the aging of the recorded investment in past due loans as of September 30, 2019 and December 31, 2018 by class of loan. September 30, 2019 (In thousands) Accruing Loans Past Due 30-89 Days Past Due Nonaccrual Loans and Loans Past Due 90 Days or More and Accruing (1) Total Past Due Total Current (2) Total Recorded Investment Commercial, financial and agricultural $ 2,570 $ 10,602 $ 13,172 $ 1,132,370 $ 1,145,542 Commercial real estate 673 1,354 2,027 1,603,437 1,605,464 Construction real estate: Commercial — 2,023 2,023 222,357 224,380 Mortgage 118 — 118 93,099 93,217 Installment — 12 12 1,574 1,586 Residential real estate: Commercial 40 791 831 466,024 466,855 Mortgage 10,196 9,508 19,704 1,156,246 1,175,950 HELOC 570 845 1,415 230,777 232,192 Installment 45 269 314 12,747 13,061 Consumer 5,758 1,572 7,330 1,427,016 1,434,346 Leases 51 209 260 30,902 31,162 Total loans $ 20,021 $ 27,185 $ 47,206 $ 6,376,549 $ 6,423,755 (1) Includes an aggregate of $3.3 million of loans past due 90 days or more and accruing. The remaining loans were past due nonaccrual loans. (2) Includes an aggregate of $65.7 million of nonaccrual loans which were current in regards to contractual principal and interest payments. December 31, 2018 (in thousands) Accruing Loans Past Due 30-89 Days Past Due (1) Total Past Due Total Current (2) Total Recorded Investment Commercial, financial and agricultural $ 4,786 $ 1,375 $ 6,161 $ 1,071,228 $ 1,077,389 Commercial real estate 780 3,584 4,364 1,283,431 1,287,795 Construction real estate: Commercial — 1,635 1,635 174,466 176,101 Mortgage 133 20 153 70,539 70,692 Installment 28 19 47 2,393 2,440 Residential real estate: Commercial 683 1,104 1,787 429,093 430,880 Mortgage 13,210 8,553 21,763 1,113,742 1,135,505 HELOC 620 907 1,527 214,915 216,442 Installment 155 274 429 13,934 14,363 Consumer 9,524 2,131 11,655 1,284,237 1,295,892 Leases — — — 2,299 2,299 Total loans $ 29,919 $ 19,602 $ 49,521 $ 5,660,277 $ 5,709,798 (1) Includes an aggregate of $2.3 million of loans past due 90 days or more and accruing. The remaining loans were past due nonaccrual loans. (2) Includes an aggregate of $50.7 million of nonaccrual loans which were current in regards to contractual principal and interest payments. |
Recorded Investment By Loan Grade | The tables below present the recorded investment by loan grade at September 30, 2019 and December 31, 2018 for all commercial loans: September 30, 2019 (In thousands) 5 Rated 6 Rated Nonaccrual and Accruing TDRs Purchase Credit Impaired (1) Pass-Rated Recorded Investment Commercial, financial and agricultural * $ 27,059 $ 315 $ 31,529 $ 4,803 $ 1,081,836 $ 1,145,542 Commercial real estate * 11,429 1,246 38,799 10,595 1,543,395 1,605,464 Construction real estate: Commercial 3,852 — 1,868 1,288 217,372 224,380 Residential real estate: Commercial 1,001 33 2,238 1,926 461,657 466,855 Leases — — 88 568 30,506 31,162 Total commercial loans $ 43,341 $ 1,594 $ 74,522 $ 19,180 $ 3,334,766 $ 3,473,403 * Included within each of commercial, financial and agricultural loans and commercial real estate loans is an immaterial amount of consumer loans that are not broken out by class. (1) Excludes loans acquired with deteriorated credit quality which are nonaccrual or TDRs due to additional credit deterioration or modification post acquisition. These loans had a recorded investment of $11,000 at September 30, 2019 . December 31, 2018 (In thousands) 5 Rated 6 Rated Nonaccrual and Accruing TDRs Purchase Credit Impaired (1) Pass-Rated Recorded Investment Commercial, financial and agricultural * $ 11,509 $ 444 $ 15,194 $ 148 $ 1,050,094 $ 1,077,389 Commercial real estate * 2,707 — 28,426 3,059 1,253,603 1,287,795 Construction real estate: Commercial 1,560 — 1,866 503 172,172 176,101 Residential real estate: Commercial 272 41 2,732 251 427,584 430,880 Leases — — — — 2,299 2,299 Total Commercial Loans $ 16,048 $ 485 $ 48,218 $ 3,961 $ 2,905,752 $ 2,974,464 |
TDR Number Of Contracts Modified And Recorded Investment | The following tables detail the number of contracts modified as TDRs during the three -month periods ended September 30, 2019 and September 30, 2018 , as well as the recorded investment of these contracts at September 30, 2019 and September 30, 2018 . The recorded investment pre- and post-modification is generally the same due to the fact that Park does not typically forgive principal. Three Months Ended (In thousands) Number of Contracts Accruing Nonaccrual Total Recorded Investment Commercial, financial and agricultural 8 $ 752 $ 5,002 $ 5,754 Commercial real estate 1 — 241 241 Construction real estate: Commercial 1 82 — 82 Mortgage — — — — Installment — — — — Residential real estate: Commercial 1 13 — 13 Mortgage 4 286 215 501 HELOC 6 31 107 138 Installment 9 407 14 421 Consumer 77 174 542 716 Total loans 107 $ 1,745 $ 6,121 $ 7,866 Three Months Ended (In thousands) Number of Contracts Accruing Nonaccrual Total Recorded Investment Commercial, financial and agricultural 8 $ 22 $ 552 $ 574 Commercial real estate 3 — 1,154 1,154 Construction real estate: Commercial — — — — Mortgage — — — — Installment — — — — Residential real estate: Commercial 2 55 249 304 Mortgage 4 — 246 246 HELOC 10 453 16 469 Installment 8 336 — 336 Consumer 71 31 590 621 Total loans 106 $ 897 $ 2,807 $ 3,704 Of those loans which were modified and determined to be a TDR during the three -month period ended September 30, 2019 , $0.6 million were on nonaccrual status as of December 31, 2018 . Of those loans which were modified and determined to be a TDR during the three -month period ended September 30, 2018 , $0.1 million were on nonaccrual status as of December 31, 2017 . The following tables detail the number of contracts modified as TDRs during the nine -month periods ended September 30, 2019 and September 30, 2018 , as well as the recorded investment of these contracts at September 30, 2019 and September 30, 2018 . The recorded investment pre- and post-modification is generally the same due to the fact that Park does not typically forgive principal. Nine Months Ended (In thousands) Number of Contracts Accruing Nonaccrual Total Recorded Investment Commercial, financial and agricultural 24 $ 3,237 $ 6,059 $ 9,296 Commercial real estate 5 — 3,236 3,236 Construction real estate: Commercial 2 82 — 82 Mortgage 1 — — — Installment — — — — Residential real estate: Commercial 2 13 36 49 Mortgage 18 340 673 1,013 HELOC 14 121 243 364 Installment 25 951 52 1,003 Consumer 251 199 987 1,186 Total loans 342 $ 4,943 $ 11,286 $ 16,229 Nine Months Ended (In thousands) Number of Contracts Accruing Nonaccrual Total Recorded Investment Commercial, financial and agricultural 16 $ 208 $ 592 $ 800 Commercial real estate 10 447 1,412 1,859 Construction real estate: Commercial 1 — — — Mortgage — — — — Installment 2 12 — 12 Residential real estate: Commercial 2 55 249 304 Mortgage 17 90 972 1,062 HELOC 18 735 125 860 Installment 17 437 16 453 Consumer 206 59 1,157 1,216 Total loans 289 $ 2,043 $ 4,523 $ 6,566 Of those loans which were modified and determined to be a TDR during the nine -month period ended September 30, 2019 , $1.8 million were on nonaccrual status as of December 31, 2018 . Of those loans which were modified and determined to be a TDR during the nine -month period ended September 30, 2018 , $0.5 million were on nonaccrual status as of December 31, 2017 . |
Recorded Investment In Financing Receivable Modified As TDR Within 12 Months | The following tables present the recorded investment in loans which were modified as TDRs within the previous 12 months and for which there was a payment default during the three -month and nine -month periods ended September 30, 2019 and September 30, 2018 , respectively. For these tables, a loan is considered to be in default when it becomes 30 days contractually past due under the modified terms. The additional allowance for loan loss resulting from the defaults on TDR loans was immaterial. Three Months Ended Three Months Ended (In thousands) Number of Contracts Recorded Investment Number of Contracts Recorded Investment Commercial, financial and agricultural 2 $ 2 1 $ 1 Commercial real estate — — — — Construction real estate: Commercial — — — — Mortgage — — — — Installment — — — — Residential real estate: Commercial — — — — Mortgage 4 257 8 688 HELOC 5 135 3 108 Installment 2 66 — — Consumer 51 477 40 315 Leases — — — — Total loans 64 $ 937 52 $ 1,112 Of the $0.9 million in modified TDRs which defaulted during the three -month period ended September 30, 2019 , $48,000 were accruing loans and $0.9 million were nonaccrual loans. Of the $1.1 million in modified TDRs which defaulted during the three -month period ended September 30, 2018 , $67,000 were accruing loans and $1.0 million were nonaccrual loans. Nine Months Ended Nine Months Ended (In thousands) Number of Contracts Recorded Investment Number of Contracts Recorded Investment Commercial, financial and agricultural 3 $ 65 1 $ 1 Commercial real estate — — — — Construction real estate: Commercial — — — — Mortgage — — — — Installment — — — — Residential real estate: Commercial 1 13 — — Mortgage 7 370 9 789 HELOC 7 165 3 108 Installment 2 66 — — Consumer 58 530 50 392 Leases — — — — Total loans 78 $ 1,209 63 $ 1,290 Of the $1.2 million in modified TDRs which defaulted during the nine -month period ended September 30, 2019 , $87,000 were accruing loans and $1.1 million were nonaccrual loans. Of the $1.3 million in modified TDRs which defaulted during the nine -month period ended September 30, 2018 , $67,000 were accruing loans and $1.2 million were nonaccrual loans. |
Allowance For Loan Losses (Tabl
Allowance For Loan Losses (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Financing Receivable, Allowance for Credit Loss, Writeoff, after Recovery [Abstract] | |
Activity In The Allowance For Loan Losses | The activity in the allowance for loan losses for the three -month and nine -month periods ended September 30, 2019 and September 30, 2018 is summarized in the following tables. Three Months Ended (In thousands) Commercial, financial and agricultural Commercial real estate Construction real estate Residential real estate Consumer Leases Total Allowance for loan losses: Beginning balance $ 17,370 $ 10,377 $ 5,065 $ 8,869 $ 12,265 $ 57 $ 54,003 Charge-offs 585 8 — 85 1,801 — 2,479 Recoveries 403 246 432 98 1,183 — 2,362 Net charge-offs/(recoveries) 182 (238 ) (432 ) (13 ) 618 — 117 Provision/(recovery) 1,238 (177 ) (65 ) 49 908 14 1,967 Ending balance $ 18,426 $ 10,438 $ 5,432 $ 8,931 $ 12,555 $ 71 $ 55,853 Three Months Ended (In thousands) Commercial, financial and agricultural Commercial real estate Construction real estate Residential real estate Consumer Leases Total Allowance for loan losses: Beginning balance $ 14,478 $ 9,406 $ 4,652 $ 9,245 $ 11,671 $ — $ 49,452 Charge-offs 993 23 26 61 2,371 — 3,474 Recoveries 136 27 156 130 875 4 1,328 Net charge-offs/(recoveries) 857 (4 ) (130 ) (69 ) 1,496 (4 ) 2,146 Provision/(recovery) 1,394 337 (187 ) (212 ) 1,612 (4 ) 2,940 Ending balance $ 15,015 $ 9,747 $ 4,595 $ 9,102 $ 11,787 $ — $ 50,246 Nine Months Ended (In thousands) Commercial, financial and agricultural Commercial real estate Construction real estate Residential real estate Consumer Leases Total Allowance for loan losses: Beginning balance $ 16,777 $ 9,768 $ 4,463 $ 8,731 $ 11,773 $ — $ 51,512 Charge-offs 1,498 401 — 176 6,319 — 8,394 Recoveries 983 360 543 640 3,824 1 6,351 Net charge-offs/(recoveries) 515 41 (543 ) (464 ) 2,495 (1 ) 2,043 Provision/(recovery) 2,164 711 426 (264 ) 3,277 70 6,384 Ending balance $ 18,426 $ 10,438 $ 5,432 $ 8,931 $ 12,555 $ 71 $ 55,853 Nine Months Ended (In thousands) Commercial, financial and agricultural Commercial real estate Construction real estate Residential real estate Consumer Leases Total Allowance for loan losses: Beginning balance $ 15,022 $ 9,601 $ 4,430 $ 9,321 $ 11,614 $ — $ 49,988 Charge-offs 1,929 252 57 279 7,123 — 9,640 Recoveries 994 203 435 734 2,942 4 5,312 Net charge-offs/(recoveries) 935 49 (378 ) (455 ) 4,181 (4 ) 4,328 Provision/(recovery) 928 195 (213 ) (674 ) 4,354 (4 ) 4,586 Ending balance $ 15,015 $ 9,747 $ 4,595 $ 9,102 $ 11,787 $ — $ 50,246 |
Composition Of The Allowance For Loan Losses | The composition of the allowance for loan losses at September 30, 2019 and December 31, 2018 was as follows: September 30, 2019 (In thousands) Commercial, financial and agricultural Commercial real estate Construction real estate Residential real estate Consumer Leases Total Allowance for loan losses: Ending allowance balance attributed to loans: Individually evaluated for impairment $ 2,917 $ 30 $ — $ 111 $ — $ 25 $ 3,083 Collectively evaluated for impairment 15,509 10,408 5,432 8,820 12,555 46 52,770 Acquired with deteriorated credit quality (1) — — — — — — — Total ending allowance balance $ 18,426 $ 10,438 $ 5,432 $ 8,931 $ 12,555 $ 71 $ 55,853 Loan balance: Loans individually evaluated for impairment $ 31,472 $ 38,758 $ 1,869 $ 2,237 $ — $ 88 $ 74,424 Loans collectively evaluated for impairment 1,103,885 1,550,422 314,942 1,878,615 1,430,397 30,476 6,308,737 Loans acquired with deteriorated credit quality (1) 4,781 10,517 1,358 3,259 3 568 20,486 Total ending loan balance $ 1,140,138 $ 1,599,697 $ 318,169 $ 1,884,111 $ 1,430,400 $ 31,132 $ 6,403,647 Allowance for loan losses as a percentage of loan balance: Loans individually evaluated for impairment 9.27 % 0.08 % — % 4.96 % — % 28.41 % 4.14 % Loans collectively evaluated for impairment 1.40 % 0.67 % 1.72 % 0.47 % 0.88 % 0.15 % 0.84 % Loans acquired with deteriorated credit quality — % — % — % — % — % — % — % Total 1.62 % 0.65 % 1.71 % 0.47 % 0.88 % 0.23 % 0.87 % Recorded investment: Loans individually evaluated for impairment $ 31,485 $ 38,799 $ 1,868 $ 2,238 $ — $ 88 $ 74,478 Loans collectively evaluated for impairment 1,109,254 1,556,070 315,927 1,882,543 1,434,343 30,506 6,328,643 Loans acquired with deteriorated credit quality (1) 4,803 10,595 1,388 3,277 3 568 20,634 Total ending recorded investment $ 1,145,542 $ 1,605,464 $ 319,183 $ 1,888,058 $ 1,434,346 $ 31,162 $ 6,423,755 (1) Excludes loans acquired with deteriorated credit quality which are individually evaluated for impairment due to additional credit deterioration or modification post-acquisition. These loans had a balance of $11,000 , a recorded investment of $11,000 , and no allowance as of September 30, 2019 . December 31, 2018 (In thousands) Commercial, financial and agricultural Commercial real estate Construction real estate Residential real estate Consumer Leases Total Allowance for loan losses: Ending allowance balance attributed to loans: Individually evaluated for impairment $ 2,169 $ 86 $ — $ 18 $ — $ — $ 2,273 Collectively evaluated for impairment 14,608 9,682 4,463 8,713 11,773 — 49,239 Acquired with deteriorated credit quality — — — — — — — Total ending allowance balance $ 16,777 $ 9,768 $ 4,463 $ 8,731 $ 11,773 $ — $ 51,512 Loan balance: Loans individually evaluated for impairment $ 15,119 $ 28,418 $ 1,866 $ 2,732 $ — $ — $ 48,135 Loans collectively evaluated for impairment 1,057,520 1,251,579 245,909 1,790,637 1,292,136 2,273 5,640,054 Loans acquired with deteriorated credit quality (1) 147 3,048 499 249 — — 3,943 Total ending loan balance $ 1,072,786 $ 1,283,045 $ 248,274 $ 1,793,618 $ 1,292,136 $ 2,273 $ 5,692,132 Allowance for loan losses as a percentage of loan balance: Loans individually evaluated for impairment 14.35 % 0.30 % — % 0.66 % — % — % 4.72 % Loans collectively evaluated for impairment 1.38 % 0.77 % 1.81 % 0.49 % 0.91 % — % 0.87 % Loans acquired with deteriorated credit quality — % — % — % — % — % — % — % Total 1.56 % 0.76 % 1.80 % 0.49 % 0.91 % — % 0.90 % Recorded investment: Loans individually evaluated for impairment $ 15,120 $ 28,426 $ 1,866 $ 2,732 $ — $ — $ 48,144 Loans collectively evaluated for impairment 1,062,121 1,256,310 246,864 1,794,207 1,295,892 2,299 5,657,693 Loans acquired with deteriorated credit quality (1) 148 3,059 503 251 — — 3,961 Total ending recorded investment $ 1,077,389 $ 1,287,795 $ 249,233 $ 1,797,190 $ 1,295,892 $ 2,299 $ 5,709,798 (1) Excludes loans acquired with deteriorated credit quality which are individually evaluated for impairment due to additional credit deterioration or modification post acquisition. These loans had a balance of $475,000 , a recorded investment of $475,000 , and no allowance as of December 31, 2018. |
Goodwill and other intangibles
Goodwill and other intangibles (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Schedule of Intangible Assets and Goodwill [Table Text Block] | The following table shows the activity in goodwill and other intangible assets for the nine months ended September 30, 2019 and 2018. (in thousands) Goodwill Other intangible assets Total December 31, 2017 $ 72,334 $ — $ 72,334 Acquired goodwill and other intangible assets 40,405 7,549 47,954 Amortization — 289 289 September 30, 2018 $ 112,739 $ 7,260 $ 119,999 December 31, 2018 $ 112,739 $ 6,971 $ 119,710 Acquired goodwill and other intangible assets 45,260 10,251 55,511 Amortization — 1,732 1,732 September 30, 2019 $ 157,999 $ 15,490 $ 173,489 |
Intangible Assets Disclosure [Text Block] | The following table shows the balance of acquired intangible assets as of September 30, 2019 and December 31, 2018. September 30, 2019 December 31, 2018 (in thousands) Gross Carrying Amount Accumulated Amortization Gross Carrying Amount Accumulated Amortization Other intangible assets: Core deposit intangible assets $ 16,500 $ 2,310 $ 6,249 $ 578 Trade name intangible assets 1,300 — 1,300 — Total $ 17,800 $ 2,310 $ 7,549 $ 578 |
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block] | Estimated amortization expense related to core deposit intangible assets for each of the periods listed below follows: (in thousands) Total Three months ending December 31, 2019 $ 741 2020 2,502 2021 2,040 2022 1,725 2023 1,548 |
Investment in Qualified Affor_2
Investment in Qualified Affordable Housing (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Equity Method Investments and Joint Ventures [Abstract] | |
Activity in Affordable Housing Program Obligation [Table Text Block] | The table below details the balances of Park’s affordable housing tax credit investments and related unfunded commitments as of September 30, 2019 and December 31, 2018. (in thousands) September 30, 2019 December 31, 2018 Affordable housing tax credit investments $ 54,909 $ 50,347 Unfunded commitments 28,439 22,282 |
Other Real Estate Owned (Tables
Other Real Estate Owned (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Other Real Estate Owned [Abstract] | |
Schedule of Assets Repossessed or Foreclosed, or loans in process of foreclosure [Table Text Block] [Text Block] | Park typically transfers a loan to other real estate owned at the time that Park takes deed/title to the real estate property asset. The carrying amounts of foreclosed real estate properties held at September 30, 2019 and December 31, 2018 are listed below, as well as the recorded investment of loans secured by residential real estate properties for which formal foreclosure proceedings were in process at those dates. (in thousands) September 30, 2019 December 31, 2018 OREO: Commercial real estate $ 2,385 $ 2,359 Construction real estate 380 1,108 Residential real estate 1,014 836 Total OREO $ 3,779 $ 4,303 Loans in process of foreclosure: Residential real estate $ 2,499 $ 2,346 |
Loan Servicing (Tables)
Loan Servicing (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Transfers and Servicing of Financial Assets [Abstract] | |
Activity For MSRs And Related Valuation Allowance | Activity for MSRs and the related valuation allowance follows: Three Months Ended Nine Months Ended (In thousands) 2019 2018 2019 2018 Mortgage servicing rights: Carrying amount, net, beginning of period $ 10,104 $ 10,077 $ 10,178 $ 9,688 Additions 722 432 1,462 1,208 Amortization (534 ) (387 ) (1,259 ) (1,156 ) Changes in valuation allowance (332 ) (26 ) (421 ) 356 Carrying amount, net, end of period $ 9,960 $ 10,096 $ 9,960 $ 10,096 Valuation allowance: Beginning of period $ 321 $ 248 $ 232 $ 630 Changes in valuation allowance 332 26 421 (356 ) End of period $ 653 $ 274 $ 653 $ 274 |
Leases Leases (Tables)
Leases Leases (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Leases [Abstract] | |
Lease, Cost [Table Text Block] | Other information related to operating leases for the three and nine months ended September 30, 2019 was as follows: (Dollars in thousands) Three Months Ended Nine Months Ended Lease cost Operating lease cost $ 831 $ 2,320 Sublease income (97 ) (285 ) Total lease cost $ 734 $ 2,035 Other information Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 843 $ 2,336 ROU assets obtained in exchange for new operating lease liabilities $ 342 $ 381 Reductions to ROU assets resulting from reductions to lease obligations $ (726 ) $ (2,021 ) |
Lessee, Operating Lease, Liability, Maturity [Table Text Block] | Undiscounted cash flows included in lease liabilities have expected contractual payments as follows: (in thousands) September 30, 2019 Three months ending December 31, 2019 $ 852 2020 2,868 2021 2,565 2022 2,406 2023 2,294 Thereafter 6,044 Total undiscounted minimum lease payments $ 17,029 Present value adjustment (1,838 ) Total lease liabilities $ 15,191 |
Lessee, Operating Leases | Leases Park is a lessee in several noncancellable operating lease arrangements, primarily for retail branches, administrative and warehouse buildings, ATMs, and certain office equipment within its Ohio, North Carolina, South Carolina, and Kentucky markets. Certain of these leases contain renewal options for periods ranging from one to five years. Park’s leases generally do not include termination options for either party to the lease or restrictive financial or other covenants. Payments due under the lease contracts include fixed payments plus, for many of Park’s real estate leases, variable payments such as Park's proportionate share of property taxes, insurance, and common area maintenance. The Company adopted ASU 2016-02, Leases (ASC 842), using the modified retrospective method as of the date of adoption, January 1, 2019, as permitted by the amendments in ASU 2018-11. As a result, the Company was not required to adjust its comparative period financial information for effects of the adoption of the standard or make the new required lease disclosures for periods prior to the effective date. Upon adoption of this accounting guidance on January 1, 2019, Park recorded an initial ROU asset of $11.0 million , and a lease liability of $11.8 million , and reclassified an existing deferred rent liability of $0.6 million . The impact to the Company's retained earnings, net of the tax impact, was $143,000 . Management elected to adopt the package of transition practical expedients and, therefore, has not reassessed (1) whether existing or expired contracts contain a lease, (2) lease classification for existing or expired leases or (3) the accounting for initial direct costs that were previously capitalized. The Company did not elect the practical expedient to use hindsight for leases existing at the adoption date. Park elected the practical expedient, by class of underlying asset, to not separate non-lease components from the associated lease components. Additionally, Park has elected not to recognize ROU assets and lease liabilities for short-term leases that have a lease term of 12 months or less. The Company recognizes the lease payments associated with its short-term leases as an expense on a cash basis. Management determines if an arrangement is or contains a lease at contract inception. If an arrangement is determined to be or contain a lease, Park recognizes a ROU asset and a lease liability at the lease commencement date. Park’s lease liability is initially and subsequently measured at the present value of the unpaid lease payments at the lease commencement date. Key estimates and judgments related to the lease liability include how management determines (1) the discount rate it uses to discount the unpaid lease payments to present value, (2) the lease term, and (3) lease payments. • ASC 842 requires a lessee to discount its unpaid lease payments using the interest rate implicit in the lease or, if that rate cannot be readily determined, its incremental borrowing rate. Generally, management cannot determine the interest rate implicit in the lease because it does not have access to the lessor’s estimated residual value or the amount of the lessor’s deferred initial direct costs. Therefore, Park utilizes its incremental borrowing rate as the discount rate for leases. Park’s incremental borrowing rate for a lease is the rate of interest it would have to pay on a collateralized basis to borrow an amount equal to the lease payments under similar terms. To manage its capital and liquidity needs, Park periodically obtains wholesale funding from the FHLB on an over-collateralized basis. The impact of utilizing an interest rate on an over-collateralized borrowing versus a fully collateralized borrowing is not material. Therefore, the FHLB yield curve was selected by management as a baseline to determine Park’s discount rates for leases. • The lease term for all of the Company’s leases includes the noncancellable period of the lease plus any additional periods covered by either Park's option to extend (or not to terminate) the lease that the Company is reasonably certain to exercise, or an option to extend (or not to terminate) the lease controlled by the lessor. If a lease contract contains multiple renewal options, management generally models lease cash flows through the first renewal option period unless the contract contains economic incentives or other conditions that increase the likelihood that additional renewals are reasonably certain to be exercised. • Lease payments included in the measurement of the lease liability are comprised of the following: – Fixed payments, including in-substance fixed payments, owed over the lease term; – For certain of Park's gross real estate leases, non-lease components such as real estate taxes, insurance, and common area maintenance; and – Variable lease payments that depend on an index or rate, initially measured using the index or rate at the lease commencement date. The ROU asset is initially measured at cost, which comprises the initial amount of the lease liability adjusted for lease payments made at or before the lease commencement date, plus any initial direct costs incurred less any lease incentives received. For operating leases, the ROU asset is subsequently measured throughout the lease term at the carrying amount of the lease liability, plus initial direct costs, plus (minus) any prepaid (accrued) lease payments, less the unamortized balance of lease incentives received. Lease expense for lease payments is recognized on a straight-line basis over the lease term. Park's operating lease ROU asset and lease liability are presented in “Operating lease right-of-use asset" and "Operating lease liability," respectively, on Park's consolidated condensed balance sheet. The carrying amount of Park's ROU asset and lease liability at September 30, 2019 were $14.4 million and $15.2 million , respectively. Park's operating lease expense is recorded in "Occupancy expense" on the Company's consolidated condensed statements of income. Other information related to operating leases for the three and nine months ended September 30, 2019 was as follows: (Dollars in thousands) Three Months Ended Nine Months Ended Lease cost Operating lease cost $ 831 $ 2,320 Sublease income (97 ) (285 ) Total lease cost $ 734 $ 2,035 Other information Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 843 $ 2,336 ROU assets obtained in exchange for new operating lease liabilities $ 342 $ 381 Reductions to ROU assets resulting from reductions to lease obligations $ (726 ) $ (2,021 ) At September 30, 2019 , Park's operating leases had a weighted average remaining term of 7.4 years and a weighted average discount rate of 3.1% . Undiscounted cash flows included in lease liabilities have expected contractual payments as follows: (in thousands) September 30, 2019 Three months ending December 31, 2019 $ 852 2020 2,868 2021 2,565 2022 2,406 2023 2,294 Thereafter 6,044 Total undiscounted minimum lease payments $ 17,029 Present value adjustment (1,838 ) Total lease liabilities $ 15,191 |
Repurchase Agreement Borrowin_2
Repurchase Agreement Borrowings (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Transfers and Servicing [Abstract] | |
Schedule of Assets and Associated Liabilities Accounted for as Secured Borrowings [Table Text Block] | The table below shows the remaining contractual maturity of repurchase agreements by collateral pledged at September 30, 2019 and December 31, 2018 : September 30, 2019 (in thousands) Remaining Contractual Maturity of the Agreements Overnight and Continuous Up to 30 days 30 - 90 days Greater than 90 days Total U.S. government and agency securities $ 160,838 $ — $ — $ — $ 160,838 December 31, 2018 (in thousands) Remaining Contractual Maturity of the Agreements Overnight and Continuous Up to 30 days 30 - 90 days Greater than 90 days Total U.S. government and agency securities $ 164,966 $ — $ — $ — $ 164,966 |
Derivatives (Tables)
Derivatives (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Derivative [Line Items] | |
Schedule of Derivative Instruments [Table Text Block] | Summary information about Park's interest rate swaps as of September 30, 2019 follows: September 30, 2019 (In thousands, except weighted average data) Borrowing Derivatives Loan Derivatives Notional amounts $ 25,000 $ 35,961 Weighted average pay rates 2.595 % 4.692 % Weighted average receive rates 2.303 % 4.692 % Weighted average maturity (years) 2.7 10.4 Unrealized losses $ 704 $ — |
Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss) [Table Text Block] | The following table presents the net gains (losses), net of income taxes, recorded in AOCI and the consolidated condensed statements of income related to interest rate swaps for the three -month and nine -month periods ended September 30, 2019 . Three Months Ended (In thousands) Amount of Gain (Loss) Recognized in OCI (Effective Portion) Amount of Gain (Loss) Reclassified from OCI to Interest Income Amount of Gain (Loss) Recognized in Other Non-interest Income (Ineffective Portion) Interest rate contracts $ (49 ) $ — $ — Nine Months Ended (In thousands) Amount of Gain (Loss) Recognized in OCI (Effective Portion) Amount of Gain (Loss) Reclassified from OCI to Interest Income Amount of Gain (Loss) Recognized in Other Non-interest Income (Ineffective Portion) Interest rate contracts $ (556 ) $ — $ — |
Schedule of Cash Flow Hedging Instruments, Statements of Financial Performance and Financial Position, Location [Table Text Block] | The following table reflects the interest rate swaps included in the consolidated condensed balance sheets as of September 30, 2019 . (In thousands) September 30, 2019 Notional Amount Fair Value Included in other assets: Borrowing derivatives - interest rate swaps related to FHLB advances $ — $ — Loan derivatives - instruments associated with loans Matched interest rate swaps with borrower 35,163 2,503 Matched interest rate swaps with counterparty 798 3 Total included in other assets $ 35,961 $ 2,506 Included in other liabilities: Borrowing derivatives - interest rate swaps related to FHLB advances $ 25,000 $ (704 ) Loan derivatives - instruments associated with loans Matched interest rate swaps with borrower 798 (3 ) Matched interest rate swaps with counterparty 35,163 (2,503 ) Total included in other liabilities $ 60,961 $ (3,210 ) |
Other Comprehensive Income (L_2
Other Comprehensive Income (Loss) Net of Tax (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Statement of Comprehensive Income [Abstract] | |
Comprehensive Income (Loss) [Table Text Block] | Other comprehensive income (loss) components, net of income tax, are shown in the following table for the three-month and nine-month periods ended September 30, 2019 and 2018 : (in thousands) Changes in pension plan assets and benefit obligations Unrealized net holding loss on cash flow hedge Unrealized gains (losses) on AFS debt securities Total Beginning balance at July 1, 2019 $ (29,672 ) $ (507 ) $ 3,872 $ (26,307 ) Other comprehensive (loss) income before reclassifications (1) — (49 ) 13,889 13,840 Amounts reclassified from accumulated other comprehensive loss — — (147 ) (147 ) Net current period other comprehensive (loss) income — (49 ) 13,742 13,693 Ending balance at September 30, 2019 $ (29,672 ) $ (556 ) $ 17,614 $ (12,614 ) Beginning balance at July 1, 2018 $ (26,701 ) $ — $ (28,308 ) $ (55,009 ) Other comprehensive loss before reclassifications — — (5,141 ) (5,141 ) Net current period other comprehensive loss — — (5,141 ) (5,141 ) Ending balance at September 30, 2018 $ (26,701 ) $ — $ (33,449 ) $ (60,150 ) (in thousands) Changes in pension plan assets and benefit obligations Unrealized net holding loss on cash flow hedge Unrealized gains (losses) on AFS debt securities Total Beginning balance at January 1, 2019 $ (29,672 ) $ — $ (20,116 ) $ (49,788 ) Other comprehensive (loss) income before reclassifications (1) — (556 ) 37,397 36,841 Amounts reclassified from accumulated other comprehensive loss — — 333 333 Net current period other comprehensive (loss) income — (556 ) 37,730 37,174 Ending balance at September 30, 2019 $ (29,672 ) $ (556 ) $ 17,614 $ (12,614 ) Beginning balance at January 1, 2018, as previously presented $ (23,526 ) $ — $ (2,928 ) $ (26,454 ) Cumulative effect of change in accounting principle for marketable equity securities, net of tax — — (995 ) (995 ) Beginning balance at January 1, 2018, as adjusted (23,526 ) — (3,923 ) (27,449 ) Reclassification of disproportionate income tax effects (3,175 ) — (631 ) (3,806 ) Net current period activity Other comprehensive loss before reclassifications — — (30,919 ) (30,919 ) Amounts reclassified from accumulated other comprehensive loss — — 2,024 2,024 Net current period other comprehensive loss — — (28,895 ) (28,895 ) Ending balance at September 30, 2018 $ (26,701 ) $ — $ (33,449 ) $ (60,150 ) (1) During the three-month and nine-month periods ended September 30, 2019, Park transferred HTM securities with a fair value of $373.9 million to AFS classification. The transfer occurred at fair value and had a related unrealized gain of $24.2 million ( $19.1 million net of taxes), recorded in other comprehensive income. |
Earnings Per Common Share (Tabl
Earnings Per Common Share (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Earnings Per Share [Abstract] | |
Summary Of Computation Of Basic And Diluted Earnings Per Common Share | The following table sets forth the computation of basic and diluted earnings per common share for the three and nine months ended September 30, 2019 and 2018 . Three Months Ended Nine Months Ended (In thousands, except share and per common share data) 2019 2018 2019 2018 Numerator: Net income $ 31,146 $ 24,762 $ 78,764 $ 84,126 Denominator: Weighted-average common shares outstanding 16,382,798 15,686,542 16,198,294 15,420,135 Effect of dilutive PBRSUs and TBRSUs 92,943 146,192 89,401 140,531 Weighted-average common shares outstanding adjusted for the effect of dilutive PBRSUs and TBRSUs 16,475,741 15,832,734 16,287,695 15,560,666 Earnings per common share: Basic earnings per common share $ 1.90 $ 1.58 $ 4.86 $ 5.46 Diluted earnings per common share $ 1.89 $ 1.56 $ 4.84 $ 5.41 |
Segment Information (Tables)
Segment Information (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Segment Reporting [Abstract] | |
Schedule Of Operating Results By Segment | Operating Results for the three months ended September 30, 2019 (In thousands) PNB GFSC All Other Total Net interest income (expense) $ 76,180 $ 1,244 $ (323 ) $ 77,101 Provision for (recovery of) loan losses 2,320 143 (496 ) 1,967 Other income 24,842 59 3,235 28,136 Other expense 60,943 902 3,893 65,738 Income (loss) before income taxes $ 37,759 $ 258 $ (485 ) $ 37,532 Income tax expense (benefit) 6,811 55 (480 ) 6,386 Net income (loss) $ 30,948 $ 203 $ (5 ) $ 31,146 Assets (as of September 30, 2019) $ 8,673,919 $ 27,481 $ 22,210 $ 8,723,610 Operating Results for the three months ended September 30, 2018 (In thousands) PNB GFSC All Other Total Net interest income $ 66,195 $ 1,252 $ 229 $ 67,676 Provision for (recovery of) loan losses 2,935 183 (178 ) 2,940 Other income 22,559 63 1,442 24,064 Other expense 51,982 810 6,524 59,316 Income (loss) before income taxes $ 33,837 $ 322 $ (4,675 ) $ 29,484 Income tax expense (benefit) 5,981 68 (1,327 ) 4,722 Net income (loss) $ 27,856 $ 254 $ (3,348 ) $ 24,762 Assets (as of September 30, 2018) $ 7,707,474 $ 28,551 $ 20,466 $ 7,756,491 Operating Results for the nine months ended September 30, 2019 (In thousands) PNB GFSC All Other Total Net interest income (expense) $ 217,355 $ 3,786 $ (413 ) $ 220,728 Provision for (recovery of) loan losses 6,563 458 (637 ) 6,384 Other income 68,224 142 4,603 72,969 Other expense 172,931 2,638 17,188 192,757 Income (loss) before income taxes $ 106,085 $ 832 $ (12,361 ) $ 94,556 Income tax expense (benefit) 19,063 179 (3,450 ) 15,792 Net income (loss) $ 87,022 $ 653 $ (8,911 ) $ 78,764 Operating Results for the nine months ended September 30, 2018 (In thousands) PNB GFSC All Other Total Net interest income $ 190,319 $ 3,818 $ 3,131 $ 197,268 Provision for (recovery of) loan losses 4,491 773 (678 ) 4,586 Other income 64,544 135 9,530 74,209 Other expense 149,152 2,412 14,594 166,158 Income (loss) before income taxes $ 101,220 $ 768 $ (1,255 ) $ 100,733 Income tax expense (benefit) 17,822 162 (1,377 ) 16,607 Net income $ 83,398 $ 606 $ 122 $ 84,126 |
Share Based Compensation (Table
Share Based Compensation (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Share-based Payment Arrangement [Abstract] | |
Share-based Payment Arrangement, Restricted Stock Unit, Activity [Table Text Block] | A summary of changes in the common shares subject to nonvested PBRSUs and TBRSUs for the nine months ended September 30, 2019 follows: Common shares subject to PBRSUs and TBRSUs Nonvested at January 1, 2019 152,631 Granted 74,440 Vested (27,719 ) Forfeited (1,262 ) Adjustment for performance conditions of PBRSUs (1) (3,368 ) Nonvested at September 30, 2019 (2) 194,722 |
Share-based Payment Arrangement, Nonvested Award, Cost [Table Text Block] | The following table details expected additional share-based compensation expense related to PBRSUs and TBRSUs outstanding as of September 30, 2019: (In thousands) Three months ending December 31, 2019 $ 1,287 2020 4,047 2021 2,388 2022 1,038 2023 163 Total $ 8,923 |
Benefit Plan (Tables)
Benefit Plan (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Defined Benefit Plan [Abstract] | |
Components Of Net Periodic Benefit Expense | The following table shows the components of net periodic pension benefit expense (income): Three Months Ended Nine Months Ended Affected Line Item in the Consolidated Condensed Statements of Income (In thousands) 2019 2018 2019 2018 Service cost $ 1,468 $ 1,637 $ 4,404 $ 4,911 Employee benefits Interest cost 1,373 1,309 4,119 3,927 Other components of net periodic pension benefit income Expected return on plan assets (3,026 ) (3,354 ) (9,078 ) (10,062 ) Other components of net Recognized net actuarial loss 470 340 1,410 1,020 Other components of net Net periodic pension benefit expense (income) $ 285 $ (68 ) $ 855 $ (204 ) Park has entered into Supplemental Executive Retirement Plan Agreements (the “SERP Agreements”) with certain key officers of the Corporation and its subsidiaries which provide defined pension benefits in excess of limits imposed by federal tax law. The expense for the Corporation related to the SERP Agreements for the three months and nine months ended September 30, 2019 and 2018 was as follows: Three Months Ended Nine Months Ended Affected Line Item in the Consolidated (In thousands) 2019 2018 2019 2018 Service cost $ 202 $ 157 $ 604 $ 635 Employee benefits Interest cost 165 188 495 349 Miscellaneous expense Total SERP expense $ 367 $ 345 $ 1,099 $ 984 |
Fair Value (Tables)
Fair Value (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Fair Value Disclosures [Abstract] | |
Assets And Liabilities Measured At Fair Value On A Recurring Basis | The following table presents assets and liabilities measured at fair value on a recurring basis: Fair Value Measurements at September 30, 2019 using: (In thousands) Level 1 Level 2 Level 3 Balance at September 30, 2019 Assets Investment securities: Obligations of states and political subdivisions — 321,905 321,905 U.S. Government sponsored entities’ asset-backed securities — 938,381 — 938,381 Equity securities 1,451 — 438 1,889 Mortgage loans held for sale — 21,986 — 21,986 Mortgage IRLCs — 422 — 422 Loan interest rate swaps — 2,506 — 2,506 Liabilities Fair value swap $ — $ — $ 226 $ 226 Borrowing interest rate swap — 704 — 704 Loan interest rate swaps — 2,506 — 2,506 Fair Value Measurements at December 31, 2018 using: (In thousands) Level 1 Level 2 Level 3 Balance at December 31, 2018 Assets Investment securities: U.S. Government sponsored entities’ asset-backed securities $ — $ 1,003,421 $ — $ 1,003,421 Equity securities 1,225 — 424 1,649 Mortgage loans held for sale — 4,158 — 4,158 Mortgage IRLCs — 87 — 87 Liabilities Fair value swap $ — $ — $ 226 $ 226 |
Reconciliation Of Level 3 Input For Financial Instruments Measured On Recurring Basis | The tables below present a reconciliation of the beginning and ending balances of the Level 3 inputs for the three and nine months ended September 30, 2019 and 2018 , for financial instruments measured on a recurring basis and classified as Level 3: Level 3 Fair Value Measurements Three months ended September 30, 2019 and 2018 (In thousands) Equity Securities Fair value swap Balance at July 1, 2019 $ 433 $ (226 ) Total gains/(losses) Included in other income 5 — Balance at September 30, 2019 $ 438 $ (226 ) Balance at July 1, 2018 $ 420 $ (226 ) Total gains/(losses) Included in other income 4 — Balance at September 30, 2018 $ 424 $ (226 ) Level 3 Fair Value Measurements Nine months ended September 30, 2019 and 2018 (In thousands) Equity Securities Fair value swap Balance at January 1, 2019 $ 424 $ (226 ) Total gains/(losses) Included in other income 14 — Balance at September 30, 2019 $ 438 $ (226 ) Balance at January 1, 2018 $ 417 $ (226 ) Total gains/(losses) Included in other income 7 — Balance at September 30, 2018 $ 424 $ (226 ) |
Assets And Liabilities Measured At Fair Value On A Nonrecurring Basis | The following tables present assets and liabilities measured at fair value on a nonrecurring basis. Collateral dependent impaired loans are carried at fair value if they have been charged down to fair value or if a specific valuation allowance has been established. As of September 30, 2019 , there were no PCI loans carried at fair value. A new cost basis is established at the time a property is initially recorded in OREO. OREO properties are carried at fair value if a devaluation has been taken with respect to the property's value subsequent to the initial measurement. Fair Value Measurements at September 30, 2019 using: (In thousands) Level 1 Level 2 Level 3 Balance at September 30, 2019 Impaired loans recorded at fair value: Commercial real estate $ — $ — $ 1,862 $ 1,862 Construction real estate — — 1,635 1,635 Residential real estate — — 182 182 Total impaired loans recorded at fair value $ — $ — $ 3,679 $ 3,679 MSRs $ — $ 7,462 $ — $ 7,462 OREO: Commercial real estate — — 2,385 2,385 Residential real estate — — 779 779 Total OREO recorded at fair value $ — $ — $ 3,164 $ 3,164 Other repossessed assets $ — $ — $ 3,598 $ 3,598 Fair Value Measurements at December 31, 2018 using: (In thousands) Level 1 Level 2 Level 3 Balance at December 31, 2018 Impaired loans recorded at fair value: Commercial real estate $ — $ — $ 4,059 $ 4,059 Construction real estate — — 1,635 1,635 Residential real estate — — 705 705 Total impaired loans recorded at fair value $ — $ — $ 6,399 $ 6,399 MSRs $ — $ 1,169 $ — $ 1,169 OREO: Commercial real estate — — 2,295 2,295 Construction real estate — — 729 729 Residential real estate — — 650 650 Total OREO recorded at fair value $ — $ — $ 3,674 $ 3,674 Other repossessed assets $ — $ — $ 3,464 $ 3,464 |
Schedule of impaired financing receivables additional info | The table below provides additional detail on those impaired loans which are recorded at fair value as well as the remaining impaired loan portfolio not included above. The remaining impaired loans consist of loans which are not collateral dependent as well as loans carried at cost as the fair value of the underlying collateral or the present value of expected future cash flows on each of the loans exceeded the book value for each respective credit. September 30, 2019 (In thousands) Recorded Investment Prior Charge-Offs Specific Valuation Allowance Carrying Balance Impaired loans recorded at fair value $ 3,820 $ 3,126 $ 141 $ 3,679 Remaining impaired loans 70,658 2,507 2,942 67,716 Total impaired loans $ 74,478 $ 5,633 $ 3,083 $ 71,395 December 31, 2018 (In thousands) Recorded Investment Prior Charge-Offs Specific Valuation Allowance Carrying Balance Impaired loans recorded at fair value $ 6,503 $ 3,630 $ 104 $ 6,399 Remaining impaired loans 41,641 7,616 2,169 39,472 Total impaired loans $ 48,144 $ 11,246 $ 2,273 $ 45,871 |
Qualitative Information about Level 3 Fair Value Measurements Measured on Non-Recurring Basis | The following tables present qualitative information about Level 3 fair value measurements for financial instruments measured at fair value on a nonrecurring basis at September 30, 2019 and December 31, 2018 : September 30, 2019 (In thousands) Fair Value Valuation Technique Unobservable Input(s) Range (Weighted Average) Impaired loans: Commercial real estate $ 1,861 Sales comparison approach Adj to comparables 0.0% - 89.6% (28.1%) Income approach Capitalization rate 10.6% (10.6%) Cost approach Accumulated depreciation 60.0% - 93.1% (72.4%) Construction real estate $ 1,635 Sales comparison approach Adj to comparables 0.1% - 72.4% (38.5%) Residential real estate $ 182 Sales comparison approach Adj to comparables 0.0% - 53.5% (13.8%) Other real estate owned: Commercial real estate $ 2,385 Sales comparison approach Adj to comparables 0.9% - 68.4% (31.1%) Income approach Capitalization rate 10.0% - 13.0% (12.8%) Residential real estate $ 779 Sales comparison approach Adj to comparables 1.9% - 54.6% (34.6%) Balance at December 31, 2018 (In thousands) Fair Value Valuation Technique Unobservable Input(s) Range (Weighted Average) Impaired loans: Commercial real estate $ 4,059 Sales comparison approach Adj to comparables 0.0% - 107.5% (31.1%) Income approach Capitalization rate 9.5% - 10.8% (10.6%) Cost approach Accumulated depreciation 4.2% - 90.1% (11.0%) Construction real estate $ 1,635 Sales comparison approach Adj to comparables 5.0% - 90.0% (26.1%) Residential real estate $ 705 Sales comparison approach Adj to comparables 0.0% - 40.0% (13.2%) Income approach Capitalization rate 10.5% (10.5%) Other real estate owned: Commercial real estate $ 2,295 Sales comparison approach Adj to comparables 0.9% - 68.4% (34.7%) Income approach Capitalization rate 13.0% (13.0%) Construction real estate $ 729 Sales comparison approach Adj to comparables 0.0% - 45.0% (21.7%) Residential real estate $ 650 Sales comparison approach Adj to comparables 30.4% - 54.6% (42.5%) |
Fair Value, by Balance Sheet Grouping | The fair value of certain financial instruments at September 30, 2019 and December 31, 2018 , was as follows: September 30, 2019 Fair Value Measurements (In thousands) Carrying value Level 1 Level 2 Level 3 Total fair value Financial assets: Cash and money market instruments $ 372,726 $ 372,726 $ — $ — $ 372,726 Investment securities (1) 1,260,286 — 1,260,286 — 1,260,286 Other investment securities (2) 1,889 1,451 — 438 1,889 Loans held for sale 21,986 — 21,986 — 21,986 Mortgage IRLCs 422 — 422 — 422 Impaired loans carried at fair value 3,678 — — 3,679 3,679 Other loans, net 6,321,708 — — 6,325,294 6,325,294 Loans receivable, net $ 6,347,794 $ — $ 22,408 $ 6,328,973 $ 6,351,381 Financial liabilities: Time deposits 1,127,366 — 1,133,648 — 1,133,648 Other 5,271 5,271 — — 5,271 Deposits (excluding demand deposits) $ 1,132,637 $ 5,271 $ 1,133,648 $ — $ 1,138,919 Short-term borrowings $ 185,838 $ — $ 185,838 $ — $ 185,838 Long-term debt 297,500 — 307,047 — 307,047 Subordinated notes 15,000 — 13,810 — 13,810 Derivative financial instruments - assets: Loan interest rate swaps $ 2,506 $ — $ 2,506 $ — $ 2,506 Derivative financial instruments - liabilities: Fair value swap $ 226 $ — $ — $ 226 $ 226 Borrowing interest rate swap 704 — 704 — 704 Loan interest rate swaps 2,506 — 2,506 — 2,506 (1) Includes AFS debt securities. (2) Excludes FHLB stock and FRB stock which are carried at their respective redemption values, investment securities accounted for at modified cost as these investments do not have a readily determinable fair value, and Partnership Investments valued using the NAV practical expedient. December 31, 2018 Fair Value Measurements (In thousands) Carrying value Level 1 Level 2 Level 3 Total fair value Financial assets: Cash and money market instruments $ 167,214 $ 167,214 $ — $ — $ 167,214 Investment securities (1) 1,355,229 — 1,354,843 — 1,354,843 Other investment securities (2) 1,649 1,225 — 424 1,649 Loans held for sale 4,158 — 4,158 — 4,158 Mortgage IRLCs 87 — 87 — 87 Impaired loans carried at fair value 6,399 — — 6,399 6,399 Other loans, net 5,629,976 — — 5,570,136 5,570,136 Loans receivable, net $ 5,640,620 $ — $ 4,245 $ 5,576,535 $ 5,580,780 Financial liabilities: Time deposits $ 1,043,177 $ — $ 1,044,620 — $ 1,044,620 Other 1,267 1,267 — — 1,267 Deposits (excluding demand deposits) $ 1,044,444 $ 1,267 $ 1,044,620 $ — $ 1,045,887 Short-term borrowings $ 221,966 $ — $ 221,966 $ — $ 221,966 Long-term debt 400,000 — 400,203 — 400,203 Subordinated notes 15,000 — 12,959 — 12,959 Derivative financial instruments: Fair value swap $ 226 $ — $ — $ 226 $ 226 (1) Includes AFS debt securities and HTM debt securities. (2) Excludes FHLB stock and FRB stock which are carried at their respective redemption values, investment securities accounted for at modified cost as these investments do not have a readily determinable fair value, and Partnership Investments valued using the NAV practical expedient. |
Revenue from Contracts with C_2
Revenue from Contracts with Customers (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Revenue from Contract with Customer [Abstract] | |
Contract with Customer, Asset and Liability [Table Text Block] | Three Months Ended Revenue by Operating Segment (in thousands) PNB GFSC All Other Total Income from fiduciary activities Personal trust and agency accounts $ 2,151 $ — $ — $ 2,151 Employee benefit and retirement-related accounts 1,753 — — 1,753 Investment management and investment advisory agency accounts 2,547 — — 2,547 Other 391 — — 391 Service charges on deposit accounts Non-sufficient funds (NSF) fees 1,911 — — 1,911 Demand deposit account (DDA) charges 784 — — 784 Other 169 — — 169 Other service income (1) Credit card 586 1 — 587 HELOC 71 — 1 72 Installment 62 — (88 ) (26 ) Real estate 3,226 — (1 ) 3,225 Commercial 262 — 140 402 Debit card fee income 5,313 — — 5,313 Bank owned life insurance income (2) 1,021 — 86 1,107 ATM fees 482 — — 482 OREO valuation adjustments (2) (41 ) — — (41 ) Loss on sale of OREO, net (53 ) — — (53 ) Net gain on sale of investment securities (2) 186 — — 186 Gain on equity securities, net (2) 240 — 3,095 3,335 Other components of net periodic pension benefit income (2) 1,147 13 23 1,183 Miscellaneous (3) 2,634 45 (21 ) 2,658 Total other income $ 24,842 $ 59 $ 3,235 $ 28,136 (1) Of the $4.3 million of aggregate revenue included within "Other service income", approximately $1.3 million is within the scope of ASC 606, with the remaining $3.0 million consisting primarily of residential real estate loan fees which are out of scope. (2) Not within the scope of ASC 606. (3) "Miscellaneous" income includes brokerage income, safe deposit box rentals, and miscellaneous bank fees totaling $2.7 million , all of which are within scope of ASC 606. Three Months Ended Revenue by Operating Segment (in thousands) PNB GFSC All Other Total Income from fiduciary activities Personal trust and agency accounts $ 1,994 $ — $ — $ 1,994 Employee benefit and retirement-related accounts 1,703 — — 1,703 Investment management and investment advisory agency accounts 2,353 — — 2,353 Other 368 — — 368 Service charges on deposit accounts Non-sufficient funds (NSF) fees 1,926 — — 1,926 Demand deposit account (DDA) charges 764 — — 764 Other 171 — — 171 Other service income (1) Credit card 592 6 — 598 HELOC 128 — — 128 Installment 60 — 6 66 Real estate 2,145 — — 2,145 Commercial 291 — 18 309 Debit card fee income 4,352 — — 4,352 Bank owned life insurance income (2) 960 — 1,625 2,585 ATM fees 500 — — 500 OREO valuation adjustments (2) (78 ) — 1 (77 ) Gain (loss) on sale of OREO, net 36 — (117 ) (81 ) Gain (loss) on equity securities, net (2) 228 — (139 ) 89 Other components of net periodic pension benefit income (2) 1,653 18 34 1,705 Miscellaneous (3) 2,413 39 14 2,466 Total other income $ 22,559 $ 63 $ 1,442 $ 24,064 (1) Of the $3.2 million of aggregate revenue included within "Other service income", approximately $1.1 million is within the scope of ASC 606, with the remaining $2.1 million consisting primarily of residential real estate loan fees which are out of scope. (2) Not within the scope of ASC 606. (3) "Miscellaneous" income includes brokerage income, safe deposit box rentals, and miscellaneous bank fees totaling $2.5 million , all of which are within scope of ASC 606. |
Recent Accounting Pronounceme_2
Recent Accounting Pronouncements (Details) - USD ($) | 3 Months Ended | 9 Months Ended | ||||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | Dec. 31, 2018 | Dec. 31, 2017 | |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||||
New Accounting Pronouncement or Change in Accounting Principle, Cumulative Effect of Change on Equity or Net Assets | $ (995,000) | |||||
Other Comprehensive Income (Loss), Transfers from Held-to-maturity to Available-for-Sale Securities, Net of Tax | $ 19,095,000 | $ 0 | $ 19,095,000 | $ 0 | ||
Retained Earnings [Member] | ||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||||
New Accounting Pronouncement or Change in Accounting Principle, Cumulative Effect of Change on Equity or Net Assets | $ (143,000) | |||||
Retained Earnings [Member] | Accounting Standards Update 2016-02 [Member] | ||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||||
New Accounting Pronouncement or Change in Accounting Principle, Cumulative Effect of Change on Equity or Net Assets | $ 143,000 | |||||
Retained Earnings [Member] | Accounting Standards Update 2016-01 [Member] | ||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||||
New Accounting Pronouncement or Change in Accounting Principle, Cumulative Effect of Change on Equity or Net Assets | $ 1,917,000 | |||||
Other Assets [Member] | ||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||||
New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Quantification | 11,000,000 | |||||
Other Liabilities [Member] | ||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||||
New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Quantification | $ 11,200,000 |
Business Combinations (Details)
Business Combinations (Details) - USD ($) | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | Dec. 31, 2018 | Apr. 01, 2019 | Jul. 01, 2018 | |
Business Acquisition [Line Items] | |||||||
Business Combination, Acquired Receivable, Fair Value | $ 578,577,000 | $ 272,753,000 | |||||
Business Acquisition, Share Price | $ 3.80 | $ 1.08 | |||||
Business Combination, Consideration Transferred [Abstract] | |||||||
Payments to Acquire Businesses, Gross | $ 28,630,000 | $ 30,684,000 | |||||
Business Combination, Consideration Transferred, Equity Interests Issued and Issuable | 98,275,000 | 48,519,000 | |||||
Business Combination, Step Acquisition, Equity Interest in Acquiree, Fair Value | 7,000,000 | ||||||
Business Combination, Consideration Transferred, Equity Interests Issued and Issuable Fair Value Method | 126,905,000 | 86,203,000 | |||||
Business Acquisition, Percentage of Voting Interests Acquired | 91.45% | ||||||
Business Combination, Step Acquisition, Equity Interest in Acquiree, Percentage | 8.55% | ||||||
Business Combination, Step Acquisition, Equity Interest in Acquiree, Remeasurement Gain | $ 3,500,000 | ||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Cash and Equivalents | $ 23,799,000 | $ 42,954,000 | |||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Marketable Securities | 97,606,000 | 1,954,000 | |||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Receivables | 578,577,000 | 272,753,000 | |||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment [Abstract] | 8,337,000 | 940,000 | |||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Other Noncurrent Assets | 31,675,000 | 6,133,000 | |||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Indefinite-Lived Intangible Assets | 1,300,000 | ||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities | 632,649,000 | 284,231,000 | |||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets | 750,245,000 | 332,283,000 | |||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities | 35,951,000 | 2,254,000 | |||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | 10,251,000 | 6,249,000 | |||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities | 668,600,000 | 286,485,000 | |||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net | 81,645,000 | 45,798,000 | |||||
Business Combination, Acquired Receivables, Gross Contractual Amount | $ 589,698,000 | $ 277,919,000 | |||||
Business Combination, Consideration Transferred allocation percentage stock | 60.00% | ||||||
Business Combination, Consideration Transferred allocation percentage cash | 40.00% | ||||||
Goodwill, Acquired During Period | 45,260,000 | $ 40,405,000 | $ 40,405,000 | ||||
Goodwill, Translation and Purchase Accounting Adjustments | $ 58,000 | ||||||
NewDominion [Member] | |||||||
Business Combination, Consideration Transferred [Abstract] | |||||||
Business Combination, Separately Recognized Transactions, Additional Disclosures, Acquisition Cost Expensed | 4,000 | $ 3,100,000 | 83,000 | 3,700,000 | |||
Carolina Alliance [Member] | |||||||
Business Combination, Consideration Transferred [Abstract] | |||||||
Business Combination, Separately Recognized Transactions, Additional Disclosures, Acquisition Cost Expensed | $ 700,000 | $ 6,900,000 | $ 251,000 | ||||
Common Stock [Member] | |||||||
Business Acquisition [Line Items] | |||||||
Business Acquisition, Share Price | $ 0.1378 | $ 0.01023 | |||||
Commercial, Financial, and Agricultural [Member] | |||||||
Business Acquisition [Line Items] | |||||||
Business Combination, Acquired Receivable, Fair Value | $ 79,373,000 | $ 19,138,000 | |||||
Business Combination, Consideration Transferred [Abstract] | |||||||
Business Combination, Acquired Receivables, Gross Contractual Amount | 79,537,000 | 19,246,000 | |||||
Commercial Real Estate [Member] | |||||||
Business Acquisition [Line Items] | |||||||
Business Combination, Acquired Receivable, Fair Value | 273,855,000 | 117,638,000 | |||||
Business Combination, Consideration Transferred [Abstract] | |||||||
Business Combination, Acquired Receivables, Gross Contractual Amount | 281,425,000 | 119,434,000 | |||||
Construction Real Estate Commercial [Domain] | |||||||
Business Acquisition [Line Items] | |||||||
Business Combination, Acquired Receivable, Fair Value | 42,176,000 | 22,235,000 | |||||
Business Combination, Consideration Transferred [Abstract] | |||||||
Business Combination, Acquired Receivables, Gross Contractual Amount | 43,106,000 | 22,494,000 | |||||
Construction Real Estate - Mortgage [Member] | |||||||
Business Acquisition [Line Items] | |||||||
Business Combination, Acquired Receivable, Fair Value | 10,633,000 | 8,111,000 | |||||
Business Combination, Consideration Transferred [Abstract] | |||||||
Business Combination, Acquired Receivables, Gross Contractual Amount | 11,130,000 | 8,391,000 | |||||
Residential Real Estate Commercial [Member] | |||||||
Business Acquisition [Line Items] | |||||||
Business Combination, Acquired Receivable, Fair Value | 48,684,000 | 14,797,000 | |||||
Business Combination, Consideration Transferred [Abstract] | |||||||
Business Combination, Acquired Receivables, Gross Contractual Amount | 48,546,000 | 14,798,000 | |||||
Residential Real Estate - Mortgage [Member] | |||||||
Business Acquisition [Line Items] | |||||||
Business Combination, Acquired Receivable, Fair Value | 30,969,000 | 48,714,000 | |||||
Business Combination, Consideration Transferred [Abstract] | |||||||
Business Combination, Acquired Receivables, Gross Contractual Amount | 30,519,000 | 50,295,000 | |||||
Residential Real Estate Home Equity Line Of Credit [Member] | |||||||
Business Acquisition [Line Items] | |||||||
Business Combination, Acquired Receivable, Fair Value | 39,526,000 | 36,688,000 | |||||
Business Combination, Consideration Transferred [Abstract] | |||||||
Business Combination, Acquired Receivables, Gross Contractual Amount | 40,227,000 | 37,651,000 | |||||
Consumer Loan [Member] | |||||||
Business Acquisition [Line Items] | |||||||
Business Combination, Acquired Receivable, Fair Value | 4,647,000 | 539,000 | |||||
Business Combination, Consideration Transferred [Abstract] | |||||||
Business Combination, Acquired Receivables, Gross Contractual Amount | 4,813,000 | 541,000 | |||||
Finance Leases Portfolio Segment [Member] | |||||||
Business Acquisition [Line Items] | |||||||
Business Combination, Acquired Receivable, Fair Value | 28,781,000 | ||||||
Business Combination, Consideration Transferred [Abstract] | |||||||
Business Combination, Acquired Receivables, Gross Contractual Amount | 28,589,000 | ||||||
Purchased credit impaired [Member] | |||||||
Business Acquisition [Line Items] | |||||||
Business Combination, Acquired Receivable, Fair Value | 19,933,000 | 4,893,000 | |||||
Business Combination, Consideration Transferred [Abstract] | |||||||
Business Combination, Acquired Receivables, Gross Contractual Amount | 21,806,000 | 5,069,000 | |||||
Performing Financial Instruments [Member] | |||||||
Business Acquisition [Line Items] | |||||||
Business Combination, Acquired Receivable, Fair Value | 558,600,000 | 267,900,000 | |||||
Business Combination, Consideration Transferred [Abstract] | |||||||
Business Combination, Acquired Receivables, Gross Contractual Amount | $ 570,800,000 | $ 273,700,000 |
Business Combinations Business
Business Combinations Business Combination Pro Forma (Details) - USD ($) $ / shares in Units, $ in Thousands | 9 Months Ended | |
Sep. 30, 2019 | Sep. 30, 2018 | |
Business Acquisition [Line Items] | ||
Business Acquisition, Pro Forma Revenue | $ 227,585 | $ 225,753 |
Business Acquisition, Pro Forma Net Income (Loss) | $ 85,720 | $ 94,509 |
Business Acquisition, Pro Forma Earnings Per Share, Basic | $ 5.18 | $ 5.64 |
Business Acquisition, Pro Forma Earnings Per Share, Diluted | $ 5.15 | $ 5.59 |
Investment Securities (Narrativ
Investment Securities (Narrative) (Details) - USD ($) | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | Dec. 31, 2018 | |
Schedule of Investments [Line Items] | |||||
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 21.00% | ||||
Available-for-sale Securities, Gross Realized Losses | $ 67,000 | $ 692,000 | $ 2,600,000 | ||
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Sale of Securities, Tax | (39,000) | 88,000 | 538,000 | ||
Debt securities held-to-maturity, at amortized cost (fair value of $351,422 at December 31, 2018) | $ 351,808,000 | ||||
Debt Securities, Held-to-maturity, Sold, Realized Gain (Loss) | 291,000 | ||||
Debt securities, held to maturity, realized gain (loss), tax | $ 61,000 | ||||
percent of held to securities sold paid down | 96.30% | 96.30% | |||
Other than Temporary Impairment Losses, Investments | 0 | 0 | $ 0 | ||
Available-for-sale Securities, Gross Realized Gains | 253,000 | $ 271,000 | 60,000 | ||
Asset backed securities mortgage portfolio, term | 15 years | ||||
Debt Securities, Held-to-maturity, Transfer, Amount | 373,900,000 | $ 349,773,000 | 0 | ||
Debt Securities, Available-for-sale, Amortized Cost | 1,237,990,000 | 1,237,990,000 | 1,028,883,000 | ||
Other Comprehensive Income (Loss), Transfers from Held-to-maturity to Available-for-Sale Securities, Net of Tax | 19,095,000 | $ 0 | 19,095,000 | 0 | |
Securities sold at a gain [Member] | |||||
Schedule of Investments [Line Items] | |||||
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Sale of Securities, Tax | 14,000 | 145,000 | 551,000 | ||
Debt Securities, Available-for-sale, Amortized Cost | 62,400,000 | 245,000,000 | 62,400,000 | 245,000,000 | |
Securities sold at a gain [Member] | QTD Sold [Member] | |||||
Schedule of Investments [Line Items] | |||||
Debt Securities, Available-for-sale, Amortized Cost | 10,700,000 | 10,700,000 | |||
Securities sold at a gain [Member] | |||||
Schedule of Investments [Line Items] | |||||
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Sale of Securities, Tax | 53,000 | 57,000 | 13,000 | ||
Debt securities held-to-maturity, at amortized cost (fair value of $351,422 at December 31, 2018) | 7,400,000 | 7,400,000 | |||
Debt Securities, Available-for-sale, Amortized Cost | 29,100,000 | $ 2,000,000 | 29,100,000 | $ 2,000,000 | |
Securities sold at a gain [Member] | QTD Sold [Member] | |||||
Schedule of Investments [Line Items] | |||||
Debt Securities, Available-for-sale, Amortized Cost | 23,800,000 | 23,800,000 | |||
U.S. Government Sponsored Entities Asset-Backed Securities [Member] | |||||
Schedule of Investments [Line Items] | |||||
Debt securities held-to-maturity, at amortized cost (fair value of $351,422 at December 31, 2018) | 46,530,000 | ||||
Debt Securities, Available-for-sale, Amortized Cost | 934,468,000 | 934,468,000 | 1,028,883,000 | ||
Collateral Pledged [Member] | |||||
Schedule of Investments [Line Items] | |||||
Debt Securities, Available-for-sale, Restricted | $ 574,000,000 | $ 574,000,000 | $ 634,000,000 |
Investment Securities (Schedule
Investment Securities (Schedule Of Investment Securities) (Details) - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 |
Schedule of Investments [Line Items] | ||
Debt Securities, Available-for-sale, Amortized Cost | $ 1,237,990 | $ 1,028,883 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | 28,756 | 453 |
Securities Available-for-Sale, Gross Unrealized Holding Losses | 6,460 | 25,915 |
Debt Securities, Available-for-sale | 1,260,286 | 1,003,421 |
Securities Held-to-Maturity, Amortized Cost | 351,808 | |
Securities Held-to-Maturity, Gross Unrecognized Holding Gains | 3,289 | |
Securities Held-to-Maturity, Gross Unrecognized Holding Losses | 3,675 | |
Securities held-to-maturity, fair value | 351,422 | |
U.S. Government Sponsored Entities Asset-Backed Securities [Member] | ||
Schedule of Investments [Line Items] | ||
Debt Securities, Available-for-sale, Amortized Cost | 934,468 | 1,028,883 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | 10,373 | 453 |
Securities Available-for-Sale, Gross Unrealized Holding Losses | 6,460 | 25,915 |
Debt Securities, Available-for-sale | 938,381 | 1,003,421 |
Securities Held-to-Maturity, Amortized Cost | 46,530 | |
Securities Held-to-Maturity, Gross Unrecognized Holding Gains | 87 | |
Securities Held-to-Maturity, Gross Unrecognized Holding Losses | 1,003 | |
Securities held-to-maturity, fair value | 45,614 | |
US States and Political Subdivisions Debt Securities [Member] | ||
Schedule of Investments [Line Items] | ||
Debt Securities, Available-for-sale, Amortized Cost | 303,522 | |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | 18,383 | |
Debt Securities, Available-for-sale | $ 321,905 | |
Securities Held-to-Maturity, Amortized Cost | 305,278 | |
Securities Held-to-Maturity, Gross Unrecognized Holding Gains | 3,202 | |
Securities Held-to-Maturity, Gross Unrecognized Holding Losses | 2,672 | |
Securities held-to-maturity, fair value | $ 305,808 |
Investment Securities (Schedu_2
Investment Securities (Schedule Of Unrealized Loss On Securities) (Details) - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 |
Schedule of Investments [Line Items] | ||
Securities Available-for-Sale, Less than 12 months, Fair value | $ 251,414 | $ 506,280 |
Securities Available-for-Sale, Less than 12 months, Unrealized losses | 1,095 | 5,998 |
Securities Available-for-Sale, 12 months or longer, Fair value | 181,807 | 449,569 |
Securities Available-for-Sale, 12 months or longer, Unrealized losses | 5,365 | 19,917 |
Securities Available-for-Sale, Fair value, Total | 433,221 | 955,849 |
Securities Available-for-Sale, Unrealized losses, Total | 6,460 | 25,915 |
Securities Held-to-Maturity, Less than 12 months, Fair value | 124,616 | |
Securities Held-to-Maturity, Less than 12 months, Unrealized losses | 1,933 | |
Securities Held-to-Maturity, 12 months or longer, Fair value | 77,654 | |
Securities Held-to-Maturity, 12 months or longer, Unrealized losses | 1,742 | |
Securities Held-to-Maturity, Fair value, Total | 202,270 | |
Securities Held-to-Maturity, Unrealized losses, Total | 3,675 | |
U.S. Government Sponsored Entities Asset-Backed Securities [Member] | ||
Schedule of Investments [Line Items] | ||
Securities Available-for-Sale, Less than 12 months, Fair value | 251,414 | 506,280 |
Securities Available-for-Sale, Less than 12 months, Unrealized losses | 1,095 | 5,998 |
Securities Available-for-Sale, 12 months or longer, Fair value | 181,807 | 449,569 |
Securities Available-for-Sale, 12 months or longer, Unrealized losses | 5,365 | 19,917 |
Securities Available-for-Sale, Fair value, Total | 433,221 | 955,849 |
Securities Available-for-Sale, Unrealized losses, Total | $ 6,460 | 25,915 |
Securities Held-to-Maturity, Less than 12 months, Fair value | 32,656 | |
Securities Held-to-Maturity, Less than 12 months, Unrealized losses | 838 | |
Securities Held-to-Maturity, 12 months or longer, Fair value | 6,931 | |
Securities Held-to-Maturity, 12 months or longer, Unrealized losses | 165 | |
Securities Held-to-Maturity, Fair value, Total | 39,587 | |
Securities Held-to-Maturity, Unrealized losses, Total | 1,003 | |
US States and Political Subdivisions Debt Securities [Member] | ||
Schedule of Investments [Line Items] | ||
Securities Held-to-Maturity, Less than 12 months, Fair value | 91,960 | |
Securities Held-to-Maturity, Less than 12 months, Unrealized losses | 1,095 | |
Securities Held-to-Maturity, 12 months or longer, Fair value | 70,723 | |
Securities Held-to-Maturity, 12 months or longer, Unrealized losses | 1,577 | |
Securities Held-to-Maturity, Fair value, Total | 162,683 | |
Securities Held-to-Maturity, Unrealized losses, Total | $ 2,672 |
Investment Securities (Amortize
Investment Securities (Amortized Cost And Estimated Fair Value Of Investments In Debt Securities By Contractual Maturity) (Details) - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 |
Schedule of Investments [Line Items] | ||
Debt Securities, Available-for-sale, Amortized Cost | $ 1,237,990 | $ 1,028,883 |
Securities Available-for-Sale, Total Fair value | 1,260,286 | 1,003,421 |
Securities Held-to-Maturity, Amortized Cost | 351,808 | |
Securities held-to-maturity, fair value | 351,422 | |
US States and Political Subdivisions Debt Securities [Member] | ||
Schedule of Investments [Line Items] | ||
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, after Five Through Ten Years, Amortized Cost | 3,998 | |
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, after Five Through Ten Years, Fair Value | $ 4,140 | |
Debt Securities, Available-for-sale, Maturity, after Five Through Ten Years, Weighted Average Yield | 3.04% | |
Debt Securities, Available-for-sale, Allocated and Single Maturity Date, Maturity, after 10 Years, Amortized Cost | $ 299,524 | |
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, after 10 Years, Fair Value | $ 317,765 | |
Debt Securities, Available-for-sale, Maturity, after 10 Years, Weighted Average Yield | 3.69% | |
Debt Securities, Available-for-sale, Amortized Cost | $ 303,522 | |
Securities Available-for-Sale, Total Fair value | $ 321,905 | |
Available for Sale Securities Weighted Avg Yield | 3.68% | |
Securities Held-to-Maturity, Amortized Cost | 305,278 | |
Securities held-to-maturity, fair value | 305,808 | |
U.S. Government Sponsored Entities Asset-Backed Securities [Member] | ||
Schedule of Investments [Line Items] | ||
Debt Securities, Available-for-sale, Amortized Cost | $ 934,468 | 1,028,883 |
Securities Available-for-Sale, Total Fair value | $ 938,381 | 1,003,421 |
Available for Sale Securities Weighted Avg Yield | 2.37% | |
Securities Held-to-Maturity, Amortized Cost | 46,530 | |
Securities held-to-maturity, fair value | $ 45,614 |
Other Investment Securities (Sc
Other Investment Securities (Schedule Of Other Investment Securities) (Details) - USD ($) | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | Dec. 31, 2018 | |
Schedule of Investments [Line Items] | |||||
equity investment shares sold | 99,646 | ||||
Proceeds from Sale of Federal Home Loan Bank Stock | $ 10,000,000 | ||||
equity investment purchased, shares | 128,553 | ||||
Federal Home Loan Bank Stock | $ 33,424,000 | $ 33,424,000 | $ 43,388,000 | ||
Federal Reserve Bank Stock | 14,653,000 | 14,653,000 | 8,225,000 | ||
Equity investments carried at fair value | 1,889,000 | 1,889,000 | 1,649,000 | ||
Equity Method Investments | 2,689,000 | 2,689,000 | 2,589,000 | ||
Alternative Investment | 15,989,000 | 15,989,000 | 17,065,000 | ||
Other investment securities | 68,644,000 | 68,644,000 | 72,916,000 | ||
Gain on equity securities, net | 3,335,000 | $ 89,000 | 5,309,000 | $ 4,633,000 | |
Alternative Investment, income recognized | 3,300,000 | 415,000 | 5,100,000 | 1,200,000 | |
Equity Securities, FV-NI, Unrealized Gain | 3,500,000 | ||||
securities purchased [Member] | |||||
Schedule of Investments [Line Items] | |||||
Federal Reserve Bank Stock | 6,400,000 | 6,400,000 | |||
Equity Securities [Member] | |||||
Schedule of Investments [Line Items] | |||||
Gain on equity securities, net | 58,000 | $ (326,000) | |||
Investments [Member] | |||||
Schedule of Investments [Line Items] | |||||
Gain on equity securities, net | 241,000 | $ (33,000) | |||
Fair Value Measured at Net Asset Value Per Share [Member] | |||||
Schedule of Investments [Line Items] | |||||
Alternative Investment | $ 12,400,000 | $ 12,400,000 | $ 11,000,000 |
Loans (Narrative) (Details)
Loans (Narrative) (Details) - USD ($) | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | Dec. 31, 2018 | Apr. 01, 2019 | Jul. 01, 2018 | |
Financing Receivable, Credit Quality Indicator [Line Items] | |||||||
Business Combination, Acquired Receivable, Fair Value | $ 578,577,000 | $ 272,753,000 | |||||
Business Combination, Acquired Receivables, Gross Contractual Amount | 589,698,000 | 277,919,000 | |||||
Loans and Leases Receivable, Deferred Income | $ 15,900,000 | $ 15,900,000 | $ 12,500,000 | ||||
Goodwill, Purchase Accounting Adjustments | 13,400,000 | 4,400,000 | |||||
Troubled Debt Restructuring, Classification removed | 15,000 | $ 200,000 | 38,000 | $ 2,400,000 | |||
Partial Charge-Offs On Impaired Loans | 5,633,000 | 11,246,000 | |||||
Impaired Financing Receivable, Related Allowance | 3,083,000 | 3,083,000 | 2,273,000 | ||||
Recorded investment, related to loans | 13,300,000 | 13,300,000 | 14,000,000 | ||||
Troubled Debt Restructuring Included In Nonaccrual Loans | 29,100,000 | 29,100,000 | 24,600,000 | ||||
TDRs included in accruing loan totals | 18,500,000 | 18,500,000 | 15,200,000 | ||||
Nonaccrual Trouble Debt Restructuring Current | 17,200,000 | 17,200,000 | 19,200,000 | ||||
Commitments to lend additional funds to borrowers whose terms had been modified in a TDR | 3,400,000 | 3,400,000 | 300,000 | ||||
Specific reserves related to troubled debt restructuring | 1,200,000 | 1,200,000 | |||||
Additional Specific Reserves Related To Troubled Debt Restructuring | 0 | 150,000 | 1,000 | 160,000 | |||
Financing Receivable, Modifications, Recorded Investment, During Period | 7,866,000 | 3,704,000 | 16,229,000 | 6,566,000 | |||
Loan Modifications on Nonacrrual status | 600,000 | 100,000 | $ 1,800,000 | 500,000 | |||
Loan past due period before entering default status | 30 days | ||||||
Financing Receivable, Modifications, Subsequent Default, Recorded Investment, During Period | 900,000 | 1,100,000 | $ 1,200,000 | 1,300,000 | |||
Deposit Liabilities Reclassified as Loans Receivable | 2,000,000 | 2,000,000 | 2,300,000 | ||||
Financing Receivable With No Related Allowance Recorded [Member] | |||||||
Financing Receivable, Credit Quality Indicator [Line Items] | |||||||
Partial Charge-Offs On Impaired Loans | 3,500,000 | 8,800,000 | |||||
Financing Receivable With A Related Allowance Recorded [Member] | |||||||
Financing Receivable, Credit Quality Indicator [Line Items] | |||||||
Partial Charge-Offs On Impaired Loans | 2,100,000 | 2,400,000 | |||||
Commercial Real Estate [Member] | |||||||
Financing Receivable, Credit Quality Indicator [Line Items] | |||||||
Financing Receivable, Modifications, Recorded Investment, During Period | 241,000 | 1,154,000 | 3,236,000 | 1,859,000 | |||
Commercial Real Estate [Member] | Financing Receivable With No Related Allowance Recorded [Member] | |||||||
Financing Receivable, Credit Quality Indicator [Line Items] | |||||||
Impaired Financing Receivable, Related Allowance | 0 | 0 | 0 | ||||
Commercial Real Estate [Member] | Financing Receivable With A Related Allowance Recorded [Member] | |||||||
Financing Receivable, Credit Quality Indicator [Line Items] | |||||||
Impaired Financing Receivable, Related Allowance | 30,000 | 30,000 | 86,000 | ||||
Accruing [Member] | |||||||
Financing Receivable, Credit Quality Indicator [Line Items] | |||||||
Financing Receivable, Modifications, Recorded Investment, During Period | 1,745,000 | 897,000 | 4,943,000 | 2,043,000 | |||
Loans modified during period | 48,000 | 67,000 | 87,000 | 67,000 | |||
Accruing [Member] | Commercial Real Estate [Member] | |||||||
Financing Receivable, Credit Quality Indicator [Line Items] | |||||||
Financing Receivable, Modifications, Recorded Investment, During Period | 0 | 447,000 | |||||
Nonaccrual [Member] | |||||||
Financing Receivable, Credit Quality Indicator [Line Items] | |||||||
Financing Receivable, Modifications, Recorded Investment, During Period | 6,121,000 | 2,807,000 | 11,286,000 | 4,523,000 | |||
Loans modified during period | 900,000 | 1,000,000 | 1,100,000 | 1,200,000 | |||
Nonaccrual [Member] | Commercial Real Estate [Member] | |||||||
Financing Receivable, Credit Quality Indicator [Line Items] | |||||||
Financing Receivable, Modifications, Recorded Investment, During Period | 241,000 | 1,154,000 | 3,236,000 | 1,412,000 | |||
Consumer [Member] | |||||||
Financing Receivable, Credit Quality Indicator [Line Items] | |||||||
Financing Receivable, Modifications, Recorded Investment, During Period | 11,900,000 | 6,600,000 | 21,400,000 | 17,000,000 | |||
Commercial Portfolio Segment [Member] | |||||||
Financing Receivable, Credit Quality Indicator [Line Items] | |||||||
Financing Receivable, Modifications, Recorded Investment, During Period | 400,000 | $ 0 | 600,000 | $ 200,000 | |||
Financial Asset Acquired with Credit Deterioration [Member] | |||||||
Financing Receivable, Credit Quality Indicator [Line Items] | |||||||
Business Combination, Acquired Receivable, Fair Value | 3,300,000 | 3,300,000 | 4,400,000 | 19,900,000 | 4,900,000 | ||
Business Combination, Acquired Receivables, Gross Contractual Amount | 3,400,000 | 3,400,000 | $ 4,600,000 | $ 21,800,000 | $ 5,100,000 | ||
NewDominion [Member] | Financial Asset Acquired with Credit Deterioration [Member] | |||||||
Financing Receivable, Credit Quality Indicator [Line Items] | |||||||
Allowance for Loan and Lease Losses, Loans Acquired | 0 | ||||||
Carolina Alliance [Member] | Financial Asset Acquired with Credit Deterioration [Member] | |||||||
Financing Receivable, Credit Quality Indicator [Line Items] | |||||||
Business Combination, Acquired Receivable, Fair Value | 17,200,000 | 17,200,000 | |||||
Business Combination, Acquired Receivables, Gross Contractual Amount | $ 18,900,000 | 18,900,000 | |||||
Allowance for Loan and Lease Losses, Loans Acquired | $ 0 |
Loans (Composition Of Loan Port
Loans (Composition Of Loan Portfolio By Class Of Loan) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | Dec. 31, 2018 | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||||||
Impaired Financing Receivable, Recorded Investment | $ 74,478 | $ 46,760 | $ 74,478 | $ 46,760 | $ 48,144 | |
Loan balance | 6,403,647 | 6,403,647 | 5,692,132 | |||
Accrued interest receivable | 24,721 | 24,721 | 22,974 | |||
Recorded Investment | 6,423,755 | 6,423,755 | 5,709,798 | |||
Impaired Financing Receivable, Average Recorded Investment | 57,236 | 54,679 | 52,490 | 52,015 | ||
Impaired Financing Receivable, Interest Income, Cash Basis Method | 412 | 485 | 1,142 | 1,292 | ||
Construction Real Estate Commercial [Domain] | ||||||
Financing Receivable, Credit Quality Indicator [Line Items] | ||||||
Impaired Financing Receivable, Recorded Investment | 1,868 | 2,016 | 1,868 | 2,016 | ||
Loan balance | 223,603 | 223,603 | 175,300 | |||
Accrued interest receivable | 777 | 777 | 801 | |||
Recorded Investment | 224,380 | 224,380 | 176,101 | |||
Impaired Financing Receivable, Average Recorded Investment | 1,922 | 2,246 | 2,176 | 1,661 | ||
Impaired Financing Receivable, Interest Income, Cash Basis Method | 1 | 4 | 23 | 31 | ||
Commercial Financial And Agricultural [Member] | ||||||
Financing Receivable, Credit Quality Indicator [Line Items] | ||||||
Impaired Financing Receivable, Recorded Investment | 31,485 | 16,026 | 31,485 | 16,026 | ||
Impaired Financing Receivable, Average Recorded Investment | 23,468 | 23,247 | 18,368 | 22,686 | ||
Impaired Financing Receivable, Interest Income, Cash Basis Method | 107 | 187 | 244 | 506 | ||
Construction Real Estate - Mortgage [Member] | ||||||
Financing Receivable, Credit Quality Indicator [Line Items] | ||||||
Loan balance | 92,985 | 92,985 | 70,541 | |||
Accrued interest receivable | 232 | 232 | 151 | |||
Recorded Investment | 93,217 | 93,217 | 70,692 | |||
Construction Real Estate - Installment [Member] | ||||||
Financing Receivable, Credit Quality Indicator [Line Items] | ||||||
Loan balance | 1,581 | 1,581 | 2,433 | |||
Accrued interest receivable | 5 | 5 | 7 | |||
Recorded Investment | 1,586 | 1,586 | 2,440 | |||
Residential Real Estate Commercial [Member] | ||||||
Financing Receivable, Credit Quality Indicator [Line Items] | ||||||
Impaired Financing Receivable, Recorded Investment | 2,238 | 2,913 | 2,238 | 2,913 | ||
Loan balance | 465,656 | 465,656 | 429,730 | |||
Accrued interest receivable | 1,199 | 1,199 | 1,150 | |||
Recorded Investment | 466,855 | 466,855 | 430,880 | |||
Impaired Financing Receivable, Average Recorded Investment | 1,977 | 2,758 | 2,198 | 6,086 | ||
Impaired Financing Receivable, Interest Income, Cash Basis Method | 27 | 26 | 72 | 84 | ||
Residential Real Estate - Mortgage [Member] | ||||||
Financing Receivable, Credit Quality Indicator [Line Items] | ||||||
Loan balance | 1,174,421 | 1,174,421 | 1,134,278 | |||
Accrued interest receivable | 1,529 | 1,529 | 1,227 | |||
Recorded Investment | 1,175,950 | 1,175,950 | 1,135,505 | |||
Residential Real Estate - HELOC [Member] | ||||||
Financing Receivable, Credit Quality Indicator [Line Items] | ||||||
Loan balance | 231,007 | 231,007 | 215,283 | |||
Accrued interest receivable | 1,185 | 1,185 | 1,159 | |||
Recorded Investment | 232,192 | 232,192 | 216,442 | |||
Residential Real Estate - Installment [Member] | ||||||
Financing Receivable, Credit Quality Indicator [Line Items] | ||||||
Loan balance | 13,027 | 13,027 | 14,327 | |||
Accrued interest receivable | 34 | 34 | 36 | |||
Recorded Investment | 13,061 | 13,061 | 14,363 | |||
Loans Receivable [Member] | ||||||
Financing Receivable, Credit Quality Indicator [Line Items] | ||||||
Accrued interest receivable | 20,108 | 20,108 | 17,666 | |||
Commercial Financial And Agricultural [Member] | ||||||
Financing Receivable, Credit Quality Indicator [Line Items] | ||||||
Loan balance | [1] | 1,140,138 | 1,140,138 | 1,072,786 | ||
Accrued interest receivable | [1] | 5,404 | 5,404 | 4,603 | ||
Recorded Investment | [1] | 1,145,542 | 1,145,542 | 1,077,389 | ||
Commercial Real Estate [Member] | ||||||
Financing Receivable, Credit Quality Indicator [Line Items] | ||||||
Impaired Financing Receivable, Recorded Investment | 38,799 | 25,805 | 38,799 | 25,805 | ||
Loan balance | [1] | 1,599,697 | 1,599,697 | 1,283,045 | ||
Accrued interest receivable | [1] | 5,767 | 5,767 | 4,750 | ||
Recorded Investment | [1] | 1,605,464 | 1,605,464 | 1,287,795 | ||
Impaired Financing Receivable, Average Recorded Investment | 29,779 | 26,428 | 29,712 | 21,582 | ||
Impaired Financing Receivable, Interest Income, Cash Basis Method | 277 | $ 268 | 803 | $ 671 | ||
Consumer [Member] | ||||||
Financing Receivable, Credit Quality Indicator [Line Items] | ||||||
Loan balance | 1,430,400 | 1,430,400 | 1,292,136 | |||
Accrued interest receivable | 3,946 | 3,946 | 3,756 | |||
Recorded Investment | 1,434,346 | 1,434,346 | 1,295,892 | |||
Finance Leases Portfolio Segment [Member] | ||||||
Financing Receivable, Credit Quality Indicator [Line Items] | ||||||
Loan balance | 31,132 | 31,132 | 2,273 | |||
Accrued interest receivable | 30 | 30 | 26 | |||
Recorded Investment | 31,162 | 31,162 | $ 2,299 | |||
Finance Leases Portfolio Segment [Member] | Residential Real Estate Commercial [Member] | ||||||
Financing Receivable, Credit Quality Indicator [Line Items] | ||||||
Impaired Financing Receivable, Recorded Investment | 88 | 88 | ||||
Impaired Financing Receivable, Average Recorded Investment | $ 90 | $ 36 | ||||
[1] | Included within each of commercial, financial and agricultural loans and commercial real estate loans is an immaterial amount of consumer loans that are not broken out by class. |
Loans (Recorded Investment In N
Loans (Recorded Investment In Nonaccrual Restructured And Loans Past Due 90 Days Or More And Accruing) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | Dec. 31, 2018 | |
Financing Receivable, Credit Quality Indicator [Line Items] | |||||
Impaired Financing Receivable, Recorded Investment | $ 74,478 | $ 46,760 | $ 74,478 | $ 46,760 | $ 48,144 |
Nonaccrual loans | 89,555 | 89,555 | 67,954 | ||
Accruing restructured loans | 18,485 | 18,485 | 15,222 | ||
Loans past due 90 days or more and accruing | 3,348 | 3,348 | 2,302 | ||
Total nonperforming loans | 111,388 | 111,388 | 85,478 | ||
Impaired Financing Receivable, Average Recorded Investment | 57,236 | 54,679 | 52,490 | 52,015 | |
Impaired Financing Receivable, Interest Income, Cash Basis Method | 412 | 485 | 1,142 | 1,292 | |
Commercial Financial And Agricultural [Member] | |||||
Financing Receivable, Credit Quality Indicator [Line Items] | |||||
Impaired Financing Receivable, Recorded Investment | 31,485 | 16,026 | 31,485 | 16,026 | |
Nonaccrual loans | 28,099 | 28,099 | 14,998 | ||
Accruing restructured loans | 3,430 | 3,430 | 196 | ||
Loans past due 90 days or more and accruing | 0 | 0 | 10 | ||
Total nonperforming loans | 31,529 | 31,529 | 15,204 | ||
Impaired Financing Receivable, Average Recorded Investment | 23,468 | 23,247 | 18,368 | 22,686 | |
Impaired Financing Receivable, Interest Income, Cash Basis Method | 107 | 187 | 244 | 506 | |
Construction Real Estate Commercial [Domain] | |||||
Financing Receivable, Credit Quality Indicator [Line Items] | |||||
Impaired Financing Receivable, Recorded Investment | 1,868 | 2,016 | 1,868 | 2,016 | |
Nonaccrual loans | 1,786 | 1,786 | 1,866 | ||
Accruing restructured loans | 82 | 82 | 0 | ||
Loans past due 90 days or more and accruing | 235 | 235 | 0 | ||
Total nonperforming loans | 2,103 | 2,103 | 1,866 | ||
Impaired Financing Receivable, Average Recorded Investment | 1,922 | 2,246 | 2,176 | 1,661 | |
Impaired Financing Receivable, Interest Income, Cash Basis Method | 1 | 4 | 23 | 31 | |
Construction Real Estate - Mortgage [Member] | |||||
Financing Receivable, Credit Quality Indicator [Line Items] | |||||
Nonaccrual loans | 27 | 27 | |||
Accruing restructured loans | 7 | 7 | 15 | ||
Loans past due 90 days or more and accruing | 0 | 0 | 20 | ||
Total nonperforming loans | 34 | 34 | 35 | ||
Construction Real Estate - Installment [Member] | |||||
Financing Receivable, Credit Quality Indicator [Line Items] | |||||
Nonaccrual loans | 73 | 73 | 19 | ||
Accruing restructured loans | 6 | 6 | 9 | ||
Loans past due 90 days or more and accruing | 12 | 12 | 0 | ||
Total nonperforming loans | 91 | 91 | 28 | ||
Residential Real Estate Commercial [Member] | |||||
Financing Receivable, Credit Quality Indicator [Line Items] | |||||
Impaired Financing Receivable, Recorded Investment | 2,238 | 2,913 | 2,238 | 2,913 | |
Nonaccrual loans | 2,224 | 2,224 | 2,610 | ||
Accruing restructured loans | 14 | 14 | 122 | ||
Loans past due 90 days or more and accruing | 0 | 0 | |||
Total nonperforming loans | 2,238 | 2,238 | 2,732 | ||
Impaired Financing Receivable, Average Recorded Investment | 1,977 | 2,758 | 2,198 | 6,086 | |
Impaired Financing Receivable, Interest Income, Cash Basis Method | 27 | 26 | 72 | 84 | |
Residential Real Estate - Mortgage [Member] | |||||
Financing Receivable, Credit Quality Indicator [Line Items] | |||||
Nonaccrual loans | 15,367 | 15,367 | 16,892 | ||
Accruing restructured loans | 8,821 | 8,821 | 9,100 | ||
Loans past due 90 days or more and accruing | 1,641 | 1,641 | 1,124 | ||
Total nonperforming loans | 25,829 | 25,829 | 27,116 | ||
Residential Real Estate - HELOC [Member] | |||||
Financing Receivable, Credit Quality Indicator [Line Items] | |||||
Nonaccrual loans | 1,700 | 1,700 | 2,158 | ||
Accruing restructured loans | 1,021 | 1,021 | 1,028 | ||
Loans past due 90 days or more and accruing | 56 | 56 | 9 | ||
Total nonperforming loans | 2,777 | 2,777 | 3,195 | ||
Residential Real Estate - Installment [Member] | |||||
Financing Receivable, Credit Quality Indicator [Line Items] | |||||
Nonaccrual loans | 512 | 512 | 468 | ||
Accruing restructured loans | 1,915 | 1,915 | 1,049 | ||
Loans past due 90 days or more and accruing | 0 | 0 | 24 | ||
Total nonperforming loans | 2,427 | 2,427 | 1,541 | ||
Commercial Real Estate [Member] | |||||
Financing Receivable, Credit Quality Indicator [Line Items] | |||||
Impaired Financing Receivable, Recorded Investment | 38,799 | 25,805 | 38,799 | 25,805 | |
Nonaccrual loans | 36,663 | 36,663 | 25,566 | ||
Accruing restructured loans | 2,136 | 2,136 | 2,860 | ||
Loans past due 90 days or more and accruing | 625 | 625 | |||
Total nonperforming loans | 39,424 | 39,424 | 28,426 | ||
Impaired Financing Receivable, Average Recorded Investment | 29,779 | 26,428 | 29,712 | 21,582 | |
Impaired Financing Receivable, Interest Income, Cash Basis Method | 277 | $ 268 | 803 | $ 671 | |
Consumer [Member] | |||||
Financing Receivable, Credit Quality Indicator [Line Items] | |||||
Nonaccrual loans | 3,016 | 3,016 | 3,377 | ||
Accruing restructured loans | 1,053 | 1,053 | 843 | ||
Loans past due 90 days or more and accruing | 570 | 570 | 1,115 | ||
Total nonperforming loans | 4,639 | 4,639 | 5,335 | ||
Finance Leases Portfolio Segment [Member] | |||||
Financing Receivable, Credit Quality Indicator [Line Items] | |||||
Nonaccrual loans | 88 | 88 | 0 | ||
Accruing restructured loans | 0 | 0 | 0 | ||
Loans past due 90 days or more and accruing | 209 | 209 | 0 | ||
Total nonperforming loans | 297 | 297 | $ 0 | ||
Finance Leases Portfolio Segment [Member] | Residential Real Estate Commercial [Member] | |||||
Financing Receivable, Credit Quality Indicator [Line Items] | |||||
Impaired Financing Receivable, Recorded Investment | 88 | 88 | |||
Impaired Financing Receivable, Average Recorded Investment | $ 90 | $ 36 |
Loans (Loans Individually And C
Loans (Loans Individually And Collectively Evaluated For Impairment) (Details) - USD ($) $ in Thousands | 9 Months Ended | 12 Months Ended |
Sep. 30, 2019 | Dec. 31, 2018 | |
Financing Receivable, Impaired [Line Items] | ||
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | $ 3,083 | $ 2,273 |
Nonaccrual and accruing restructured loans | 108,040 | 83,176 |
Nonaccrual and accruing restructured loans, loans individually evaluated for impairment | 74,478 | 48,144 |
Nonaccrual and accruing restructured loans, loans collectively evaluated for impairment | 33,562 | 35,032 |
Partial Charge-Offs On Impaired Loans | 5,633 | 11,246 |
Commercial Financial And Agricultural [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Nonaccrual and accruing restructured loans | 31,529 | 15,194 |
Nonaccrual and accruing restructured loans, loans individually evaluated for impairment | 31,485 | 15,120 |
Nonaccrual and accruing restructured loans, loans collectively evaluated for impairment | 44 | 74 |
Construction Real Estate Commercial [Domain] | ||
Financing Receivable, Impaired [Line Items] | ||
Nonaccrual and accruing restructured loans | 1,868 | 1,866 |
Nonaccrual and accruing restructured loans, loans individually evaluated for impairment | 1,868 | 1,866 |
Nonaccrual and accruing restructured loans, loans collectively evaluated for impairment | 0 | 0 |
Construction Real Estate - Mortgage [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Nonaccrual and accruing restructured loans | 34 | 15 |
Nonaccrual and accruing restructured loans, loans individually evaluated for impairment | 0 | 0 |
Nonaccrual and accruing restructured loans, loans collectively evaluated for impairment | 34 | 15 |
Construction Real Estate - Installment [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Nonaccrual and accruing restructured loans | 79 | 28 |
Nonaccrual and accruing restructured loans, loans individually evaluated for impairment | 0 | 0 |
Nonaccrual and accruing restructured loans, loans collectively evaluated for impairment | 79 | 28 |
Residential Real Estate Commercial [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Nonaccrual and accruing restructured loans | 2,238 | 2,732 |
Nonaccrual and accruing restructured loans, loans individually evaluated for impairment | 2,238 | 2,732 |
Nonaccrual and accruing restructured loans, loans collectively evaluated for impairment | 0 | 0 |
Residential Real Estate - Mortgage [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Nonaccrual and accruing restructured loans | 24,188 | 25,992 |
Nonaccrual and accruing restructured loans, loans individually evaluated for impairment | 0 | 0 |
Nonaccrual and accruing restructured loans, loans collectively evaluated for impairment | 24,188 | 25,992 |
Residential Real Estate - HELOC [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Nonaccrual and accruing restructured loans | 2,721 | 3,186 |
Nonaccrual and accruing restructured loans, loans individually evaluated for impairment | 0 | 0 |
Nonaccrual and accruing restructured loans, loans collectively evaluated for impairment | 2,721 | 3,186 |
Residential Real Estate - Installment [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Nonaccrual and accruing restructured loans | 2,427 | 1,517 |
Nonaccrual and accruing restructured loans, loans individually evaluated for impairment | 0 | 0 |
Nonaccrual and accruing restructured loans, loans collectively evaluated for impairment | 2,427 | 1,517 |
Commercial Real Estate [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | 30 | 86 |
Nonaccrual and accruing restructured loans | 38,799 | 28,426 |
Nonaccrual and accruing restructured loans, loans individually evaluated for impairment | 38,799 | 28,426 |
Nonaccrual and accruing restructured loans, loans collectively evaluated for impairment | 0 | 0 |
Consumer [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | 0 | 0 |
Nonaccrual and accruing restructured loans | 4,069 | 4,220 |
Nonaccrual and accruing restructured loans, loans collectively evaluated for impairment | 4,069 | 4,220 |
Finance Leases Portfolio Segment [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | 25 | 0 |
Nonaccrual and accruing restructured loans | 88 | |
Nonaccrual and accruing restructured loans, loans individually evaluated for impairment | 88 | |
Financing Receivable With No Related Allowance Recorded [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Partial Charge-Offs On Impaired Loans | $ 3,500 | $ 8,800 |
Loans (Loans Individually Evalu
Loans (Loans Individually Evaluated For Impairment By Class Of Loans) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | Dec. 31, 2018 | |
Financing Receivable, Impaired [Line Items] | |||||
Unpaid principal balance | $ 80,056 | $ 80,056 | $ 59,381 | ||
Recorded investment | 74,478 | $ 46,760 | 74,478 | $ 46,760 | 48,144 |
Allowance for loan losses allocated | 3,083 | 3,083 | 2,273 | ||
Impaired Financing Receivable, Average Recorded Investment | 57,236 | 54,679 | 52,490 | 52,015 | |
Impaired Financing Receivable, Interest Income, Cash Basis Method | 412 | 485 | 1,142 | 1,292 | |
Commercial Financial And Agricultural [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Recorded investment | 31,485 | 16,026 | 31,485 | 16,026 | |
Impaired Financing Receivable, Average Recorded Investment | 23,468 | 23,247 | 18,368 | 22,686 | |
Impaired Financing Receivable, Interest Income, Cash Basis Method | 107 | 187 | 244 | 506 | |
Commercial Financial And Agricultural [Member] | Financing Receivable With No Related Allowance Recorded [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Unpaid principal balance | 19,140 | 19,140 | 8,999 | ||
Recorded investment | 18,783 | 18,783 | 3,713 | ||
Allowance for loan losses allocated | 0 | 0 | 0 | ||
Commercial Financial And Agricultural [Member] | Financing Receivable With A Related Allowance Recorded [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Unpaid principal balance | 14,839 | 14,839 | 13,736 | ||
Recorded investment | 12,702 | 12,702 | 11,407 | ||
Allowance for loan losses allocated | 2,917 | 2,917 | 2,169 | ||
Construction Real Estate Commercial [Domain] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Recorded investment | 1,868 | 2,016 | 1,868 | 2,016 | |
Impaired Financing Receivable, Average Recorded Investment | 1,922 | 2,246 | 2,176 | 1,661 | |
Impaired Financing Receivable, Interest Income, Cash Basis Method | 1 | 4 | 23 | 31 | |
Construction Real Estate Commercial [Domain] | Financing Receivable With No Related Allowance Recorded [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Unpaid principal balance | 4,682 | 4,682 | 4,679 | ||
Recorded investment | 1,868 | 1,868 | 1,866 | ||
Allowance for loan losses allocated | 0 | 0 | 0 | ||
Residential Real Estate Commercial [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Recorded investment | 2,238 | 2,913 | 2,238 | 2,913 | |
Impaired Financing Receivable, Average Recorded Investment | 1,977 | 2,758 | 2,198 | 6,086 | |
Impaired Financing Receivable, Interest Income, Cash Basis Method | 27 | 26 | 72 | 84 | |
Residential Real Estate Commercial [Member] | Financing Receivable With No Related Allowance Recorded [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Unpaid principal balance | 2,101 | 2,101 | 2,691 | ||
Recorded investment | 2,035 | 2,035 | 2,374 | ||
Allowance for loan losses allocated | 0 | 0 | 0 | ||
Residential Real Estate Commercial [Member] | Financing Receivable With A Related Allowance Recorded [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Unpaid principal balance | 203 | 203 | 358 | ||
Recorded investment | 203 | 203 | 358 | ||
Allowance for loan losses allocated | 111 | 111 | 18 | ||
Commercial Real Estate [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Recorded investment | 38,799 | 25,805 | 38,799 | 25,805 | |
Impaired Financing Receivable, Average Recorded Investment | 29,779 | 26,428 | 29,712 | 21,582 | |
Impaired Financing Receivable, Interest Income, Cash Basis Method | 277 | $ 268 | 803 | $ 671 | |
Commercial Real Estate [Member] | Financing Receivable With No Related Allowance Recorded [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Unpaid principal balance | 38,723 | 38,723 | 26,663 | ||
Recorded investment | 38,519 | 38,519 | 26,213 | ||
Allowance for loan losses allocated | 0 | 0 | 0 | ||
Commercial Real Estate [Member] | Financing Receivable With A Related Allowance Recorded [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Unpaid principal balance | 280 | 280 | 2,255 | ||
Recorded investment | 280 | 280 | 2,213 | ||
Allowance for loan losses allocated | 30 | 30 | 86 | ||
Finance Leases Portfolio Segment [Member] | Financing Receivable With No Related Allowance Recorded [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Allowance for loan losses allocated | 0 | 0 | $ 0 | ||
Finance Leases Portfolio Segment [Member] | Financing Receivable With A Related Allowance Recorded [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Unpaid principal balance | 88 | 88 | |||
Recorded investment | 88 | 88 | |||
Allowance for loan losses allocated | 25 | 25 | |||
Finance Leases Portfolio Segment [Member] | Residential Real Estate Commercial [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Recorded investment | 88 | 88 | |||
Impaired Financing Receivable, Average Recorded Investment | $ 90 | $ 36 |
Loans (Average Recorded Investm
Loans (Average Recorded Investment And Interest Income Recognized On Loans Individually Evaluated For Impairment) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | Dec. 31, 2018 | |
Financing Receivable, Impaired [Line Items] | |||||
Recorded investment | $ 74,478 | $ 46,760 | $ 74,478 | $ 46,760 | $ 48,144 |
Average recorded investment | 57,236 | 54,679 | 52,490 | 52,015 | |
Interest income recognized | 412 | 485 | 1,142 | 1,292 | |
Commercial Financial And Agricultural [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Recorded investment | 31,485 | 16,026 | 31,485 | 16,026 | |
Average recorded investment | 23,468 | 23,247 | 18,368 | 22,686 | |
Interest income recognized | 107 | 187 | 244 | 506 | |
Construction Real Estate Commercial [Domain] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Recorded investment | 1,868 | 2,016 | 1,868 | 2,016 | |
Average recorded investment | 1,922 | 2,246 | 2,176 | 1,661 | |
Interest income recognized | 1 | 4 | 23 | 31 | |
Residential Real Estate Commercial [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Recorded investment | 2,238 | 2,913 | 2,238 | 2,913 | |
Average recorded investment | 1,977 | 2,758 | 2,198 | 6,086 | |
Interest income recognized | 27 | 26 | 72 | 84 | |
Commercial Real Estate [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Recorded investment | 38,799 | 25,805 | 38,799 | 25,805 | |
Average recorded investment | 29,779 | 26,428 | 29,712 | 21,582 | |
Interest income recognized | 277 | $ 268 | 803 | $ 671 | |
Finance Leases Portfolio Segment [Member] | Residential Real Estate Commercial [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Recorded investment | 88 | 88 | |||
Average recorded investment | $ 90 | $ 36 |
Loans (Aging Of Recorded Invest
Loans (Aging Of Recorded Investment In Past Due Loans) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||||||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | Dec. 31, 2018 | |||||
Financing Receivable, Past Due [Line Items] | |||||||||
Accruing loans past due 30-89 days | $ 20,021 | $ 20,021 | $ 29,919 | ||||||
Past due nonaccrual loans and loans past due 90 days or more and accruing | 27,185 | [1] | 27,185 | [1] | 19,602 | [2] | |||
Total loans past due | 47,206 | 47,206 | 49,521 | ||||||
Total current | 6,376,549 | 6,376,549 | 5,660,277 | ||||||
Recorded Investment | 6,423,755 | 6,423,755 | 5,709,798 | ||||||
Loans past due 90 days or more and accruing | 3,348 | 3,348 | 2,302 | ||||||
Impaired Financing Receivable, Recorded Investment, Nonaccrual loans which are current in regards to contractual P&I payments | 65,700 | 65,700 | 50,700 | ||||||
Financing Receivable, Modifications, Recorded Investment, During Period | 7,866 | $ 3,704 | 16,229 | $ 6,566 | |||||
Construction Real Estate Commercial [Domain] | |||||||||
Financing Receivable, Past Due [Line Items] | |||||||||
Past due nonaccrual loans and loans past due 90 days or more and accruing | 2,023 | [1] | 2,023 | [1] | 1,635 | [2] | |||
Total loans past due | 2,023 | 2,023 | 1,635 | ||||||
Total current | 222,357 | 222,357 | 174,466 | ||||||
Recorded Investment | 224,380 | 224,380 | 176,101 | ||||||
Loans past due 90 days or more and accruing | 235 | 235 | 0 | ||||||
Financing Receivable, Modifications, Recorded Investment, During Period | 82 | 82 | 0 | ||||||
Commercial Financial And Agricultural [Member] | |||||||||
Financing Receivable, Past Due [Line Items] | |||||||||
Accruing loans past due 30-89 days | 2,570 | 2,570 | 4,786 | ||||||
Past due nonaccrual loans and loans past due 90 days or more and accruing | 10,602 | [1] | 10,602 | [1] | 1,375 | [2] | |||
Total loans past due | 13,172 | 13,172 | 6,161 | ||||||
Total current | 1,132,370 | 1,132,370 | 1,071,228 | ||||||
Loans past due 90 days or more and accruing | 0 | 0 | 10 | ||||||
Financing Receivable, Modifications, Recorded Investment, During Period | 5,754 | 574 | 9,296 | 800 | |||||
Construction Real Estate - Mortgage [Member] | |||||||||
Financing Receivable, Past Due [Line Items] | |||||||||
Accruing loans past due 30-89 days | 118 | 118 | 133 | ||||||
Past due nonaccrual loans and loans past due 90 days or more and accruing | [2] | 20 | |||||||
Total loans past due | 118 | 118 | 153 | ||||||
Total current | 93,099 | 93,099 | 70,539 | ||||||
Recorded Investment | 93,217 | 93,217 | 70,692 | ||||||
Loans past due 90 days or more and accruing | 0 | 0 | 20 | ||||||
Financing Receivable, Modifications, Recorded Investment, During Period | 0 | 0 | |||||||
Construction Real Estate - Installment [Member] | |||||||||
Financing Receivable, Past Due [Line Items] | |||||||||
Accruing loans past due 30-89 days | 28 | ||||||||
Past due nonaccrual loans and loans past due 90 days or more and accruing | 12 | [1] | 12 | [1] | 19 | [2] | |||
Total loans past due | 12 | 12 | 47 | ||||||
Total current | 1,574 | 1,574 | 2,393 | ||||||
Recorded Investment | 1,586 | 1,586 | 2,440 | ||||||
Loans past due 90 days or more and accruing | 12 | 12 | 0 | ||||||
Financing Receivable, Modifications, Recorded Investment, During Period | 0 | 12 | |||||||
Residential Real Estate Commercial [Member] | |||||||||
Financing Receivable, Past Due [Line Items] | |||||||||
Accruing loans past due 30-89 days | 40 | 40 | 683 | ||||||
Past due nonaccrual loans and loans past due 90 days or more and accruing | 791 | [1] | 791 | [1] | 1,104 | [2] | |||
Total loans past due | 831 | 831 | 1,787 | ||||||
Total current | 466,024 | 466,024 | 429,093 | ||||||
Recorded Investment | 466,855 | 466,855 | 430,880 | ||||||
Loans past due 90 days or more and accruing | 0 | 0 | |||||||
Financing Receivable, Modifications, Recorded Investment, During Period | 13 | 304 | 49 | 304 | |||||
Residential Real Estate - Mortgage [Member] | |||||||||
Financing Receivable, Past Due [Line Items] | |||||||||
Accruing loans past due 30-89 days | 10,196 | 10,196 | 13,210 | ||||||
Past due nonaccrual loans and loans past due 90 days or more and accruing | 9,508 | [1] | 9,508 | [1] | 8,553 | [2] | |||
Total loans past due | 19,704 | 19,704 | 21,763 | ||||||
Total current | 1,156,246 | 1,156,246 | 1,113,742 | ||||||
Recorded Investment | 1,175,950 | 1,175,950 | 1,135,505 | ||||||
Loans past due 90 days or more and accruing | 1,641 | 1,641 | 1,124 | ||||||
Financing Receivable, Modifications, Recorded Investment, During Period | 501 | 246 | 1,013 | 1,062 | |||||
Residential Real Estate - HELOC [Member] | |||||||||
Financing Receivable, Past Due [Line Items] | |||||||||
Accruing loans past due 30-89 days | 570 | 570 | 620 | ||||||
Past due nonaccrual loans and loans past due 90 days or more and accruing | 845 | [1] | 845 | [1] | 907 | [2] | |||
Total loans past due | 1,415 | 1,415 | 1,527 | ||||||
Total current | 230,777 | 230,777 | 214,915 | ||||||
Recorded Investment | 232,192 | 232,192 | 216,442 | ||||||
Loans past due 90 days or more and accruing | 56 | 56 | 9 | ||||||
Financing Receivable, Modifications, Recorded Investment, During Period | 138 | 469 | 364 | 860 | |||||
Residential Real Estate - Installment [Member] | |||||||||
Financing Receivable, Past Due [Line Items] | |||||||||
Accruing loans past due 30-89 days | 45 | 45 | 155 | ||||||
Past due nonaccrual loans and loans past due 90 days or more and accruing | 269 | [1] | 269 | [1] | 274 | [2] | |||
Total loans past due | 314 | 314 | 429 | ||||||
Total current | 12,747 | 12,747 | 13,934 | ||||||
Recorded Investment | 13,061 | 13,061 | 14,363 | ||||||
Loans past due 90 days or more and accruing | 0 | 0 | 24 | ||||||
Financing Receivable, Modifications, Recorded Investment, During Period | 421 | 336 | 1,003 | 453 | |||||
Commercial Financial And Agricultural [Member] | |||||||||
Financing Receivable, Past Due [Line Items] | |||||||||
Recorded Investment | [3] | 1,145,542 | 1,145,542 | 1,077,389 | |||||
Commercial Real Estate [Member] | |||||||||
Financing Receivable, Past Due [Line Items] | |||||||||
Accruing loans past due 30-89 days | 673 | 673 | 780 | ||||||
Past due nonaccrual loans and loans past due 90 days or more and accruing | 1,354 | [1] | 1,354 | [1] | 3,584 | [2] | |||
Total loans past due | 2,027 | 2,027 | 4,364 | ||||||
Total current | 1,603,437 | 1,603,437 | 1,283,431 | ||||||
Recorded Investment | [3] | 1,605,464 | 1,605,464 | 1,287,795 | |||||
Loans past due 90 days or more and accruing | 625 | 625 | |||||||
Financing Receivable, Modifications, Recorded Investment, During Period | 241 | 1,154 | 3,236 | 1,859 | |||||
Consumer [Member] | |||||||||
Financing Receivable, Past Due [Line Items] | |||||||||
Accruing loans past due 30-89 days | 5,758 | 5,758 | 9,524 | ||||||
Past due nonaccrual loans and loans past due 90 days or more and accruing | 1,572 | [1] | 1,572 | [1] | 2,131 | [2] | |||
Total loans past due | 7,330 | 7,330 | 11,655 | ||||||
Total current | 1,427,016 | 1,427,016 | 1,284,237 | ||||||
Recorded Investment | 1,434,346 | 1,434,346 | 1,295,892 | ||||||
Loans past due 90 days or more and accruing | 570 | 570 | 1,115 | ||||||
Financing Receivable, Modifications, Recorded Investment, During Period | 716 | 621 | 1,186 | 1,216 | |||||
Finance Leases Portfolio Segment [Member] | |||||||||
Financing Receivable, Past Due [Line Items] | |||||||||
Accruing loans past due 30-89 days | 51 | 51 | 0 | ||||||
Past due nonaccrual loans and loans past due 90 days or more and accruing | 209 | [1] | 209 | [1] | 0 | [2] | |||
Total loans past due | 260 | 260 | 0 | ||||||
Total current | 30,902 | 30,902 | 2,299 | ||||||
Recorded Investment | 31,162 | 31,162 | 2,299 | ||||||
Loans past due 90 days or more and accruing | 209 | 209 | $ 0 | ||||||
Accruing Financing Receivable Modifications [Member] | |||||||||
Financing Receivable, Past Due [Line Items] | |||||||||
Financing Receivable, Modifications, Recorded Investment, During Period | 1,745 | 897 | 4,943 | 2,043 | |||||
Accruing Financing Receivable Modifications [Member] | Construction Real Estate Commercial [Domain] | |||||||||
Financing Receivable, Past Due [Line Items] | |||||||||
Financing Receivable, Modifications, Recorded Investment, During Period | 82 | 82 | 0 | ||||||
Accruing Financing Receivable Modifications [Member] | Commercial Financial And Agricultural [Member] | |||||||||
Financing Receivable, Past Due [Line Items] | |||||||||
Financing Receivable, Modifications, Recorded Investment, During Period | 752 | 22 | 3,237 | 208 | |||||
Accruing Financing Receivable Modifications [Member] | Construction Real Estate - Mortgage [Member] | |||||||||
Financing Receivable, Past Due [Line Items] | |||||||||
Financing Receivable, Modifications, Recorded Investment, During Period | 0 | 0 | 0 | 0 | |||||
Accruing Financing Receivable Modifications [Member] | Construction Real Estate - Installment [Member] | |||||||||
Financing Receivable, Past Due [Line Items] | |||||||||
Financing Receivable, Modifications, Recorded Investment, During Period | 0 | 0 | 0 | 12 | |||||
Accruing Financing Receivable Modifications [Member] | Residential Real Estate Commercial [Member] | |||||||||
Financing Receivable, Past Due [Line Items] | |||||||||
Financing Receivable, Modifications, Recorded Investment, During Period | 13 | 55 | 13 | 55 | |||||
Accruing Financing Receivable Modifications [Member] | Residential Real Estate - Mortgage [Member] | |||||||||
Financing Receivable, Past Due [Line Items] | |||||||||
Financing Receivable, Modifications, Recorded Investment, During Period | 286 | 0 | 340 | 90 | |||||
Accruing Financing Receivable Modifications [Member] | Residential Real Estate - HELOC [Member] | |||||||||
Financing Receivable, Past Due [Line Items] | |||||||||
Financing Receivable, Modifications, Recorded Investment, During Period | 31 | 453 | 121 | 735 | |||||
Accruing Financing Receivable Modifications [Member] | Residential Real Estate - Installment [Member] | |||||||||
Financing Receivable, Past Due [Line Items] | |||||||||
Financing Receivable, Modifications, Recorded Investment, During Period | 407 | 336 | 951 | 437 | |||||
Accruing Financing Receivable Modifications [Member] | Commercial Real Estate [Member] | |||||||||
Financing Receivable, Past Due [Line Items] | |||||||||
Financing Receivable, Modifications, Recorded Investment, During Period | 0 | 447 | |||||||
Accruing Financing Receivable Modifications [Member] | Consumer [Member] | |||||||||
Financing Receivable, Past Due [Line Items] | |||||||||
Financing Receivable, Modifications, Recorded Investment, During Period | 174 | 31 | 199 | 59 | |||||
Nonaccruing Financing Receivable Modifications [Member] | |||||||||
Financing Receivable, Past Due [Line Items] | |||||||||
Financing Receivable, Modifications, Recorded Investment, During Period | 6,121 | 2,807 | 11,286 | 4,523 | |||||
Nonaccruing Financing Receivable Modifications [Member] | Construction Real Estate Commercial [Domain] | |||||||||
Financing Receivable, Past Due [Line Items] | |||||||||
Financing Receivable, Modifications, Recorded Investment, During Period | 0 | 0 | |||||||
Nonaccruing Financing Receivable Modifications [Member] | Commercial Financial And Agricultural [Member] | |||||||||
Financing Receivable, Past Due [Line Items] | |||||||||
Financing Receivable, Modifications, Recorded Investment, During Period | 5,002 | 552 | 6,059 | 592 | |||||
Nonaccruing Financing Receivable Modifications [Member] | Construction Real Estate - Mortgage [Member] | |||||||||
Financing Receivable, Past Due [Line Items] | |||||||||
Financing Receivable, Modifications, Recorded Investment, During Period | 0 | 0 | |||||||
Nonaccruing Financing Receivable Modifications [Member] | Construction Real Estate - Installment [Member] | |||||||||
Financing Receivable, Past Due [Line Items] | |||||||||
Financing Receivable, Modifications, Recorded Investment, During Period | 0 | 0 | |||||||
Nonaccruing Financing Receivable Modifications [Member] | Residential Real Estate Commercial [Member] | |||||||||
Financing Receivable, Past Due [Line Items] | |||||||||
Financing Receivable, Modifications, Recorded Investment, During Period | 249 | 36 | 249 | ||||||
Nonaccruing Financing Receivable Modifications [Member] | Residential Real Estate - Mortgage [Member] | |||||||||
Financing Receivable, Past Due [Line Items] | |||||||||
Financing Receivable, Modifications, Recorded Investment, During Period | 215 | 246 | 673 | 972 | |||||
Nonaccruing Financing Receivable Modifications [Member] | Residential Real Estate - HELOC [Member] | |||||||||
Financing Receivable, Past Due [Line Items] | |||||||||
Financing Receivable, Modifications, Recorded Investment, During Period | 107 | 16 | 243 | 125 | |||||
Nonaccruing Financing Receivable Modifications [Member] | Residential Real Estate - Installment [Member] | |||||||||
Financing Receivable, Past Due [Line Items] | |||||||||
Financing Receivable, Modifications, Recorded Investment, During Period | 14 | 52 | 16 | ||||||
Nonaccruing Financing Receivable Modifications [Member] | Commercial Real Estate [Member] | |||||||||
Financing Receivable, Past Due [Line Items] | |||||||||
Financing Receivable, Modifications, Recorded Investment, During Period | 241 | 1,154 | 3,236 | 1,412 | |||||
Nonaccruing Financing Receivable Modifications [Member] | Consumer [Member] | |||||||||
Financing Receivable, Past Due [Line Items] | |||||||||
Financing Receivable, Modifications, Recorded Investment, During Period | $ 542 | $ 590 | $ 987 | $ 1,157 | |||||
[1] | 1) Includes an aggregate of $3.3 million of loans past due 90 days or more and accruing. The remaining loans were past due nonaccrual loans. (2) Includes an aggregate of $65.7 million | ||||||||
[2] | 1) Includes an aggregate of $2.3 million of loans past due 90 days or more and accruing. The remaining loans were past due nonaccrual loans. (2) Includes an aggregate of $50.7 million of nonaccrual loans which were current in regards to contractual principal and interest payments. | ||||||||
[3] | Included within each of commercial, financial and agricultural loans and commercial real estate loans is an immaterial amount of consumer loans that are not broken out by class. |
Loans (Recorded Investment By L
Loans (Recorded Investment By Loan Grade) (Details) - USD ($) | Sep. 30, 2019 | Dec. 31, 2018 | |||
Financing Receivable, Credit Quality Indicator [Line Items] | |||||
Loans and Leases Receivable, Recorded Investment | $ 6,423,755,000 | $ 5,709,798,000 | |||
Recorded Investment | 6,403,647,000 | 5,692,132,000 | |||
Construction Real Estate Commercial [Domain] | |||||
Financing Receivable, Credit Quality Indicator [Line Items] | |||||
Loans and Leases Receivable, Recorded Investment | 224,380,000 | 176,101,000 | |||
Recorded Investment | 223,603,000 | 175,300,000 | |||
Residential Real Estate Commercial [Member] | |||||
Financing Receivable, Credit Quality Indicator [Line Items] | |||||
Loans and Leases Receivable, Recorded Investment | 466,855,000 | 430,880,000 | |||
Recorded Investment | 465,656,000 | 429,730,000 | |||
Commercial Real Estate [Member] | |||||
Financing Receivable, Credit Quality Indicator [Line Items] | |||||
Loans and Leases Receivable, Recorded Investment | [1] | 1,605,464,000 | 1,287,795,000 | ||
Recorded Investment | [1] | 1,599,697,000 | 1,283,045,000 | ||
Finance Leases Portfolio Segment [Member] | |||||
Financing Receivable, Credit Quality Indicator [Line Items] | |||||
Loans and Leases Receivable, Recorded Investment | 31,162,000 | 2,299,000 | |||
Recorded Investment | 31,132,000 | 2,273,000 | |||
5 Rated [Member] | |||||
Financing Receivable, Credit Quality Indicator [Line Items] | |||||
Total ending loan balance, recorded investment | 43,341,000 | 16,048,000 | |||
5 Rated [Member] | Construction Real Estate Commercial [Domain] | |||||
Financing Receivable, Credit Quality Indicator [Line Items] | |||||
Total ending loan balance, recorded investment | 3,852,000 | 1,560,000 | |||
5 Rated [Member] | Residential Real Estate Commercial [Member] | |||||
Financing Receivable, Credit Quality Indicator [Line Items] | |||||
Total ending loan balance, recorded investment | 1,001,000 | 272,000 | |||
5 Rated [Member] | Commercial, Financial, and Agricultural [Member] | |||||
Financing Receivable, Credit Quality Indicator [Line Items] | |||||
Total ending loan balance, recorded investment | 27,059,000 | [2] | 11,509,000 | [3] | |
5 Rated [Member] | Commercial Real Estate [Member] | |||||
Financing Receivable, Credit Quality Indicator [Line Items] | |||||
Total ending loan balance, recorded investment | 11,429,000 | [2] | 2,707,000 | [3] | |
5 Rated [Member] | Finance Leases Portfolio Segment [Member] | |||||
Financing Receivable, Credit Quality Indicator [Line Items] | |||||
Total ending loan balance, recorded investment | 0 | 0 | |||
6 Rated [Member] | |||||
Financing Receivable, Credit Quality Indicator [Line Items] | |||||
Total ending loan balance, recorded investment | 1,594,000 | 485,000 | |||
6 Rated [Member] | Construction Real Estate Commercial [Domain] | |||||
Financing Receivable, Credit Quality Indicator [Line Items] | |||||
Total ending loan balance, recorded investment | 0 | ||||
6 Rated [Member] | Residential Real Estate Commercial [Member] | |||||
Financing Receivable, Credit Quality Indicator [Line Items] | |||||
Total ending loan balance, recorded investment | 33,000 | 41,000 | |||
6 Rated [Member] | Commercial, Financial, and Agricultural [Member] | |||||
Financing Receivable, Credit Quality Indicator [Line Items] | |||||
Total ending loan balance, recorded investment | 315,000 | [2] | 444,000 | [3] | |
6 Rated [Member] | Commercial Real Estate [Member] | |||||
Financing Receivable, Credit Quality Indicator [Line Items] | |||||
Total ending loan balance, recorded investment | [2] | 1,246,000 | |||
6 Rated [Member] | Finance Leases Portfolio Segment [Member] | |||||
Financing Receivable, Credit Quality Indicator [Line Items] | |||||
Total ending loan balance, recorded investment | 0 | 0 | |||
Impaired [Member] | |||||
Financing Receivable, Credit Quality Indicator [Line Items] | |||||
Total ending loan balance, recorded investment | 74,522,000 | 48,218,000 | |||
Impaired [Member] | Construction Real Estate Commercial [Domain] | |||||
Financing Receivable, Credit Quality Indicator [Line Items] | |||||
Total ending loan balance, recorded investment | 1,868,000 | 1,866,000 | |||
Impaired [Member] | Residential Real Estate Commercial [Member] | |||||
Financing Receivable, Credit Quality Indicator [Line Items] | |||||
Total ending loan balance, recorded investment | 2,238,000 | 2,732,000 | |||
Impaired [Member] | Commercial, Financial, and Agricultural [Member] | |||||
Financing Receivable, Credit Quality Indicator [Line Items] | |||||
Total ending loan balance, recorded investment | 31,529,000 | [2] | 15,194,000 | [3] | |
Impaired [Member] | Commercial Real Estate [Member] | |||||
Financing Receivable, Credit Quality Indicator [Line Items] | |||||
Total ending loan balance, recorded investment | 38,799,000 | [2] | 28,426,000 | [3] | |
Impaired [Member] | Finance Leases Portfolio Segment [Member] | |||||
Financing Receivable, Credit Quality Indicator [Line Items] | |||||
Total ending loan balance, recorded investment | 88,000 | 0 | |||
Purchased credit impaired [Member] | |||||
Financing Receivable, Credit Quality Indicator [Line Items] | |||||
Total ending loan balance, recorded investment | 19,180,000 | 3,961,000 | |||
Purchased credit impaired [Member] | Construction Real Estate Commercial [Domain] | |||||
Financing Receivable, Credit Quality Indicator [Line Items] | |||||
Total ending loan balance, recorded investment | 1,288,000 | 503,000 | |||
Purchased credit impaired [Member] | Residential Real Estate Commercial [Member] | |||||
Financing Receivable, Credit Quality Indicator [Line Items] | |||||
Total ending loan balance, recorded investment | 1,926,000 | 251,000 | |||
Purchased credit impaired [Member] | Commercial, Financial, and Agricultural [Member] | |||||
Financing Receivable, Credit Quality Indicator [Line Items] | |||||
Total ending loan balance, recorded investment | [2] | 4,803,000 | 148,000 | ||
Purchased credit impaired [Member] | Commercial Real Estate [Member] | |||||
Financing Receivable, Credit Quality Indicator [Line Items] | |||||
Total ending loan balance, recorded investment | [2] | 10,595,000 | 3,059,000 | ||
Purchased credit impaired [Member] | Finance Leases Portfolio Segment [Member] | |||||
Financing Receivable, Credit Quality Indicator [Line Items] | |||||
Total ending loan balance, recorded investment | 0 | ||||
Pass Rated [Member] | |||||
Financing Receivable, Credit Quality Indicator [Line Items] | |||||
Total ending loan balance, recorded investment | 3,334,766,000 | 2,905,752,000 | |||
Pass Rated [Member] | Construction Real Estate Commercial [Domain] | |||||
Financing Receivable, Credit Quality Indicator [Line Items] | |||||
Total ending loan balance, recorded investment | 217,372,000 | 172,172,000 | |||
Pass Rated [Member] | Residential Real Estate Commercial [Member] | |||||
Financing Receivable, Credit Quality Indicator [Line Items] | |||||
Total ending loan balance, recorded investment | 461,657,000 | 427,584,000 | |||
Pass Rated [Member] | Commercial, Financial, and Agricultural [Member] | |||||
Financing Receivable, Credit Quality Indicator [Line Items] | |||||
Total ending loan balance, recorded investment | [2] | 1,081,836,000 | 1,050,094,000 | ||
Pass Rated [Member] | Commercial Real Estate [Member] | |||||
Financing Receivable, Credit Quality Indicator [Line Items] | |||||
Total ending loan balance, recorded investment | [2] | 1,543,395,000 | 1,253,603,000 | ||
Pass Rated [Member] | Finance Leases Portfolio Segment [Member] | |||||
Financing Receivable, Credit Quality Indicator [Line Items] | |||||
Total ending loan balance, recorded investment | 30,506,000 | 2,299,000 | |||
Recorded Investment [Member] | |||||
Financing Receivable, Credit Quality Indicator [Line Items] | |||||
Recorded Investment | 3,473,403,000 | 2,974,464,000 | |||
Recorded Investment [Member] | Construction Real Estate Commercial [Domain] | |||||
Financing Receivable, Credit Quality Indicator [Line Items] | |||||
Recorded Investment | 224,380,000 | 176,101,000 | |||
Recorded Investment [Member] | Residential Real Estate Commercial [Member] | |||||
Financing Receivable, Credit Quality Indicator [Line Items] | |||||
Recorded Investment | 466,855,000 | 430,880,000 | |||
Recorded Investment [Member] | Commercial, Financial, and Agricultural [Member] | |||||
Financing Receivable, Credit Quality Indicator [Line Items] | |||||
Recorded Investment | [2] | 1,145,542,000 | 1,077,389,000 | ||
Recorded Investment [Member] | Commercial Real Estate [Member] | |||||
Financing Receivable, Credit Quality Indicator [Line Items] | |||||
Recorded Investment | [2] | 1,605,464,000 | 1,287,795,000 | ||
Recorded Investment [Member] | Finance Leases Portfolio Segment [Member] | |||||
Financing Receivable, Credit Quality Indicator [Line Items] | |||||
Recorded Investment | 31,162,000 | 2,299,000 | |||
Financial Asset Acquired with Credit Deterioration [Member] | Nonperforming Financial Instruments [Member] | Purchased credit impaired [Member] | Commercial Portfolio Segment [Member] | |||||
Financing Receivable, Credit Quality Indicator [Line Items] | |||||
Loans and Leases Receivable, Recorded Investment | 11,000 | 475,000 | |||
Total ending loan balance, recorded investment | $ 11,000 | $ 475,000 | |||
[1] | Included within each of commercial, financial and agricultural loans and commercial real estate loans is an immaterial amount of consumer loans that are not broken out by class. | ||||
[2] | * Included within each of commercial, financial and agricultural loans and commercial real estate loans is an immaterial amount of consumer loans that are not broken out by class. | ||||
[3] | * Included within each of commercial, financial and agricultural loans and commercial real estate loans is an immaterial amount of consumer loans that are not broken out by class. |
Loans (TDR Number Of Contracts
Loans (TDR Number Of Contracts Modified And Recorded Investment) (Details) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019USD ($)contracts | Sep. 30, 2018USD ($)contracts | Sep. 30, 2019USD ($) | Sep. 30, 2018USD ($) | |
Financing Receivable, Credit Quality Indicator [Line Items] | ||||
Additional Specific Reserves Related To Troubled Debt Restructuring | $ 0 | $ 150,000 | $ 1,000 | $ 160,000 |
Troubled Debt Restructuring, Classification removed | $ 15,000 | $ 200,000 | $ 38,000 | $ 2,400,000 |
Number of Contracts | 107 | 106 | 342 | 289 |
Total Recorded Investment | $ 7,866,000 | $ 3,704,000 | $ 16,229,000 | $ 6,566,000 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment, During Period | $ 900,000 | $ 1,100,000 | $ 1,200,000 | $ 1,300,000 |
Construction Real Estate - Mortgage [Member] | ||||
Financing Receivable, Credit Quality Indicator [Line Items] | ||||
Number of Contracts | 0 | 0 | 1 | 0 |
Total Recorded Investment | $ 0 | $ 0 | ||
Commercial Financial And Agricultural [Member] | ||||
Financing Receivable, Credit Quality Indicator [Line Items] | ||||
Number of Contracts | 8 | 8 | 24 | 16 |
Total Recorded Investment | $ 5,754,000 | $ 574,000 | $ 9,296,000 | $ 800,000 |
Residential Real Estate Commercial [Member] | ||||
Financing Receivable, Credit Quality Indicator [Line Items] | ||||
Number of Contracts | 1 | 2 | 2 | 2 |
Total Recorded Investment | $ 13,000 | $ 304,000 | $ 49,000 | $ 304,000 |
Residential Real Estate - Mortgage [Member] | ||||
Financing Receivable, Credit Quality Indicator [Line Items] | ||||
Number of Contracts | 4 | 4 | 18 | 17 |
Total Recorded Investment | $ 501,000 | $ 246,000 | $ 1,013,000 | $ 1,062,000 |
Construction Real Estate - Installment [Member] | ||||
Financing Receivable, Credit Quality Indicator [Line Items] | ||||
Number of Contracts | 0 | 0 | 0 | 2 |
Total Recorded Investment | $ 0 | $ 12,000 | ||
Residential Real Estate Installment [Member] | ||||
Financing Receivable, Credit Quality Indicator [Line Items] | ||||
Total Recorded Investment | $ 421,000 | $ 336,000 | $ 1,003,000 | $ 453,000 |
Residential Real Estate Home Equity Line Of Credit [Member] | ||||
Financing Receivable, Credit Quality Indicator [Line Items] | ||||
Number of Contracts | 6 | 10 | 14 | 18 |
Total Recorded Investment | $ 138,000 | $ 469,000 | $ 364,000 | $ 860,000 |
Construction Real Estate Commercial [Domain] | ||||
Financing Receivable, Credit Quality Indicator [Line Items] | ||||
Number of Contracts | 1 | 0 | 2 | 1 |
Total Recorded Investment | $ 82,000 | $ 82,000 | $ 0 | |
Commercial Real Estate [Member] | ||||
Financing Receivable, Credit Quality Indicator [Line Items] | ||||
Number of Contracts | 1 | 3 | 5 | 10 |
Total Recorded Investment | $ 241,000 | $ 1,154,000 | $ 3,236,000 | $ 1,859,000 |
Residential Real Estate Installment [Member] | ||||
Financing Receivable, Credit Quality Indicator [Line Items] | ||||
Number of Contracts | 9 | 8 | 25 | 17 |
Consumer [Member] | ||||
Financing Receivable, Credit Quality Indicator [Line Items] | ||||
Number of Contracts | 77 | 71 | 251 | 206 |
Total Recorded Investment | $ 716,000 | $ 621,000 | $ 1,186,000 | $ 1,216,000 |
Accruing [Member] | ||||
Financing Receivable, Credit Quality Indicator [Line Items] | ||||
Total Recorded Investment | 1,745,000 | 897,000 | 4,943,000 | 2,043,000 |
Accruing [Member] | Construction Real Estate - Mortgage [Member] | ||||
Financing Receivable, Credit Quality Indicator [Line Items] | ||||
Total Recorded Investment | 0 | 0 | 0 | 0 |
Accruing [Member] | Commercial Financial And Agricultural [Member] | ||||
Financing Receivable, Credit Quality Indicator [Line Items] | ||||
Total Recorded Investment | 752,000 | 22,000 | 3,237,000 | 208,000 |
Accruing [Member] | Residential Real Estate Commercial [Member] | ||||
Financing Receivable, Credit Quality Indicator [Line Items] | ||||
Total Recorded Investment | 13,000 | 55,000 | 13,000 | 55,000 |
Accruing [Member] | Residential Real Estate - Mortgage [Member] | ||||
Financing Receivable, Credit Quality Indicator [Line Items] | ||||
Total Recorded Investment | 286,000 | 0 | 340,000 | 90,000 |
Accruing [Member] | Construction Real Estate - Installment [Member] | ||||
Financing Receivable, Credit Quality Indicator [Line Items] | ||||
Total Recorded Investment | 0 | 0 | 0 | 12,000 |
Accruing [Member] | Residential Real Estate Installment [Member] | ||||
Financing Receivable, Credit Quality Indicator [Line Items] | ||||
Total Recorded Investment | 407,000 | 336,000 | 951,000 | 437,000 |
Accruing [Member] | Residential Real Estate Home Equity Line Of Credit [Member] | ||||
Financing Receivable, Credit Quality Indicator [Line Items] | ||||
Total Recorded Investment | 31,000 | 453,000 | 121,000 | 735,000 |
Accruing [Member] | Construction Real Estate Commercial [Domain] | ||||
Financing Receivable, Credit Quality Indicator [Line Items] | ||||
Total Recorded Investment | 82,000 | 82,000 | 0 | |
Accruing [Member] | Commercial Real Estate [Member] | ||||
Financing Receivable, Credit Quality Indicator [Line Items] | ||||
Total Recorded Investment | 0 | 447,000 | ||
Accruing [Member] | Consumer [Member] | ||||
Financing Receivable, Credit Quality Indicator [Line Items] | ||||
Total Recorded Investment | 174,000 | 31,000 | 199,000 | 59,000 |
Nonaccrual [Member] | ||||
Financing Receivable, Credit Quality Indicator [Line Items] | ||||
Total Recorded Investment | 6,121,000 | 2,807,000 | 11,286,000 | 4,523,000 |
Nonaccrual [Member] | Construction Real Estate - Mortgage [Member] | ||||
Financing Receivable, Credit Quality Indicator [Line Items] | ||||
Total Recorded Investment | 0 | 0 | ||
Nonaccrual [Member] | Commercial Financial And Agricultural [Member] | ||||
Financing Receivable, Credit Quality Indicator [Line Items] | ||||
Total Recorded Investment | 5,002,000 | 552,000 | 6,059,000 | 592,000 |
Nonaccrual [Member] | Residential Real Estate Commercial [Member] | ||||
Financing Receivable, Credit Quality Indicator [Line Items] | ||||
Total Recorded Investment | 249,000 | 36,000 | 249,000 | |
Nonaccrual [Member] | Residential Real Estate - Mortgage [Member] | ||||
Financing Receivable, Credit Quality Indicator [Line Items] | ||||
Total Recorded Investment | 215,000 | 246,000 | 673,000 | 972,000 |
Nonaccrual [Member] | Construction Real Estate - Installment [Member] | ||||
Financing Receivable, Credit Quality Indicator [Line Items] | ||||
Total Recorded Investment | 0 | 0 | ||
Nonaccrual [Member] | Residential Real Estate Installment [Member] | ||||
Financing Receivable, Credit Quality Indicator [Line Items] | ||||
Total Recorded Investment | 14,000 | 52,000 | 16,000 | |
Nonaccrual [Member] | Residential Real Estate Home Equity Line Of Credit [Member] | ||||
Financing Receivable, Credit Quality Indicator [Line Items] | ||||
Total Recorded Investment | 107,000 | 16,000 | 243,000 | 125,000 |
Nonaccrual [Member] | Construction Real Estate Commercial [Domain] | ||||
Financing Receivable, Credit Quality Indicator [Line Items] | ||||
Total Recorded Investment | 0 | 0 | ||
Nonaccrual [Member] | Commercial Real Estate [Member] | ||||
Financing Receivable, Credit Quality Indicator [Line Items] | ||||
Total Recorded Investment | 241,000 | 1,154,000 | 3,236,000 | 1,412,000 |
Nonaccrual [Member] | Consumer [Member] | ||||
Financing Receivable, Credit Quality Indicator [Line Items] | ||||
Total Recorded Investment | 542,000 | 590,000 | 987,000 | 1,157,000 |
Commercial Portfolio Segment [Member] | ||||
Financing Receivable, Credit Quality Indicator [Line Items] | ||||
Total Recorded Investment | $ 400,000 | $ 0 | $ 600,000 | $ 200,000 |
Loans (Recorded Investment In F
Loans (Recorded Investment In Financing Receivable Modified As TDR Within 12 Months) (Details) | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2019USD ($)contracts | Sep. 30, 2018USD ($)contracts | Sep. 30, 2019USD ($)contracts | Sep. 30, 2018USD ($)contracts | Dec. 31, 2018USD ($) | |
Financing Receivable, Credit Quality Indicator [Line Items] | |||||
Troubled Debt Restructuring, Classification removed | $ 15,000 | $ 200,000 | $ 38,000 | $ 2,400,000 | |
Number of Contracts | contracts | 64 | 52 | 78 | 63 | |
Recorded Investment | $ 937,000 | $ 1,112,000 | $ 1,209,000 | $ 1,290,000 | |
Financing Receivable, Modifications, Recorded Investment, During Period | 7,866,000 | $ 3,704,000 | 16,229,000 | 6,566,000 | |
Troubled Debt Restructuring Included In Nonaccrual Loans | 29,100,000 | 29,100,000 | $ 24,600,000 | ||
Nonaccrual Trouble Debt Restructuring Current | $ 17,200,000 | 17,200,000 | $ 19,200,000 | ||
Construction Real Estate - Installment [Member] | |||||
Financing Receivable, Credit Quality Indicator [Line Items] | |||||
Financing Receivable, Modifications, Recorded Investment, During Period | $ 0 | $ 12,000 | |||
Commercial Financial And Agricultural [Member] | |||||
Financing Receivable, Credit Quality Indicator [Line Items] | |||||
Number of Contracts | contracts | 2 | 1 | 3 | 1 | |
Recorded Investment | $ 2,000 | $ 1,000 | $ 65,000 | $ 1,000 | |
Financing Receivable, Modifications, Recorded Investment, During Period | $ 5,754,000 | $ 574,000 | $ 9,296,000 | $ 800,000 | |
Residential Real Estate Commercial [Member] | |||||
Financing Receivable, Credit Quality Indicator [Line Items] | |||||
Number of Contracts | contracts | 0 | 0 | 1 | 0 | |
Recorded Investment | $ 13,000 | ||||
Financing Receivable, Modifications, Recorded Investment, During Period | $ 13,000 | $ 304,000 | $ 49,000 | $ 304,000 | |
Residential Real Estate - Mortgage [Member] | |||||
Financing Receivable, Credit Quality Indicator [Line Items] | |||||
Number of Contracts | contracts | 4 | 8 | 7 | 9 | |
Recorded Investment | $ 257,000 | $ 688,000 | $ 370,000 | $ 789,000 | |
Financing Receivable, Modifications, Recorded Investment, During Period | $ 501,000 | $ 246,000 | $ 1,013,000 | $ 1,062,000 | |
Residential Real Estate - HELOC [Member] | |||||
Financing Receivable, Credit Quality Indicator [Line Items] | |||||
Number of Contracts | contracts | 5 | 3 | 7 | 3 | |
Recorded Investment | $ 135,000 | $ 108,000 | $ 165,000 | $ 108,000 | |
Financing Receivable, Modifications, Recorded Investment, During Period | 138,000 | 469,000 | 364,000 | 860,000 | |
Construction Real Estate - Mortgage [Member] | |||||
Financing Receivable, Credit Quality Indicator [Line Items] | |||||
Financing Receivable, Modifications, Recorded Investment, During Period | 0 | 0 | |||
Residential Real Estate - Installment [Member] | |||||
Financing Receivable, Credit Quality Indicator [Line Items] | |||||
Financing Receivable, Modifications, Recorded Investment, During Period | $ 421,000 | $ 336,000 | $ 1,003,000 | $ 453,000 | |
Construction Real Estate Commercial [Domain] | |||||
Financing Receivable, Credit Quality Indicator [Line Items] | |||||
Number of Contracts | contracts | 0 | 0 | 0 | 0 | |
Financing Receivable, Modifications, Recorded Investment, During Period | $ 82,000 | $ 82,000 | $ 0 | ||
Consumer Portfolio Segment [Member] | |||||
Financing Receivable, Credit Quality Indicator [Line Items] | |||||
Financing Receivable, Modifications, Recorded Investment, During Period | $ 716,000 | $ 621,000 | $ 1,186,000 | $ 1,216,000 | |
Commercial Real Estate [Member] | |||||
Financing Receivable, Credit Quality Indicator [Line Items] | |||||
Number of Contracts | contracts | 0 | 0 | 0 | 0 | |
Financing Receivable, Modifications, Recorded Investment, During Period | $ 241,000 | $ 1,154,000 | $ 3,236,000 | $ 1,859,000 | |
Construction Real Estate - Mortgage [Member] | |||||
Financing Receivable, Credit Quality Indicator [Line Items] | |||||
Number of Contracts | contracts | 0 | 0 | 0 | 0 | |
Recorded Investment | $ 0 | $ 0 | $ 0 | $ 0 | |
Construction Real Estate - Installment [Member] | |||||
Financing Receivable, Credit Quality Indicator [Line Items] | |||||
Number of Contracts | contracts | 0 | 0 | 0 | 0 | |
Recorded Investment | $ 0 | $ 0 | $ 0 | $ 0 | |
Residential Real Estate - Installment [Member] | |||||
Financing Receivable, Credit Quality Indicator [Line Items] | |||||
Number of Contracts | contracts | 2 | 0 | 2 | 0 | |
Recorded Investment | $ 66,000 | $ 0 | $ 66,000 | $ 0 | |
Consumer Loan [Member] | |||||
Financing Receivable, Credit Quality Indicator [Line Items] | |||||
Number of Contracts | contracts | 51 | 40 | 58 | 50 | |
Recorded Investment | $ 477,000 | $ 315,000 | $ 530,000 | $ 392,000 | |
Finance Leases Financing Receivable [Member] | |||||
Financing Receivable, Credit Quality Indicator [Line Items] | |||||
Number of Contracts | contracts | 0 | 0 | 0 | 0 | |
Recorded Investment | $ 0 | $ 0 | $ 0 | $ 0 | |
Accruing Financing Receivable Modifications [Member] | |||||
Financing Receivable, Credit Quality Indicator [Line Items] | |||||
Financing Receivable, Modifications, Recorded Investment, During Period | 1,745,000 | 897,000 | 4,943,000 | 2,043,000 | |
Accruing Financing Receivable Modifications [Member] | Construction Real Estate - Installment [Member] | |||||
Financing Receivable, Credit Quality Indicator [Line Items] | |||||
Financing Receivable, Modifications, Recorded Investment, During Period | 0 | 0 | 0 | 12,000 | |
Accruing Financing Receivable Modifications [Member] | Commercial Financial And Agricultural [Member] | |||||
Financing Receivable, Credit Quality Indicator [Line Items] | |||||
Financing Receivable, Modifications, Recorded Investment, During Period | 752,000 | 22,000 | 3,237,000 | 208,000 | |
Accruing Financing Receivable Modifications [Member] | Residential Real Estate Commercial [Member] | |||||
Financing Receivable, Credit Quality Indicator [Line Items] | |||||
Financing Receivable, Modifications, Recorded Investment, During Period | 13,000 | 55,000 | 13,000 | 55,000 | |
Accruing Financing Receivable Modifications [Member] | Residential Real Estate - Mortgage [Member] | |||||
Financing Receivable, Credit Quality Indicator [Line Items] | |||||
Financing Receivable, Modifications, Recorded Investment, During Period | 286,000 | 0 | 340,000 | 90,000 | |
Accruing Financing Receivable Modifications [Member] | Residential Real Estate - HELOC [Member] | |||||
Financing Receivable, Credit Quality Indicator [Line Items] | |||||
Financing Receivable, Modifications, Recorded Investment, During Period | 31,000 | 453,000 | 121,000 | 735,000 | |
Accruing Financing Receivable Modifications [Member] | Construction Real Estate - Mortgage [Member] | |||||
Financing Receivable, Credit Quality Indicator [Line Items] | |||||
Financing Receivable, Modifications, Recorded Investment, During Period | 0 | 0 | 0 | 0 | |
Accruing Financing Receivable Modifications [Member] | Residential Real Estate - Installment [Member] | |||||
Financing Receivable, Credit Quality Indicator [Line Items] | |||||
Financing Receivable, Modifications, Recorded Investment, During Period | 407,000 | 336,000 | 951,000 | 437,000 | |
Accruing Financing Receivable Modifications [Member] | Construction Real Estate Commercial [Domain] | |||||
Financing Receivable, Credit Quality Indicator [Line Items] | |||||
Financing Receivable, Modifications, Recorded Investment, During Period | 82,000 | 82,000 | 0 | ||
Accruing Financing Receivable Modifications [Member] | Consumer Portfolio Segment [Member] | |||||
Financing Receivable, Credit Quality Indicator [Line Items] | |||||
Financing Receivable, Modifications, Recorded Investment, During Period | 174,000 | 31,000 | 199,000 | 59,000 | |
Accruing Financing Receivable Modifications [Member] | Commercial Real Estate [Member] | |||||
Financing Receivable, Credit Quality Indicator [Line Items] | |||||
Financing Receivable, Modifications, Recorded Investment, During Period | 0 | 447,000 | |||
Nonaccruing Financing Receivable Modifications [Member] | |||||
Financing Receivable, Credit Quality Indicator [Line Items] | |||||
Financing Receivable, Modifications, Recorded Investment, During Period | 6,121,000 | 2,807,000 | 11,286,000 | 4,523,000 | |
Nonaccruing Financing Receivable Modifications [Member] | Construction Real Estate - Installment [Member] | |||||
Financing Receivable, Credit Quality Indicator [Line Items] | |||||
Financing Receivable, Modifications, Recorded Investment, During Period | 0 | 0 | |||
Nonaccruing Financing Receivable Modifications [Member] | Commercial Financial And Agricultural [Member] | |||||
Financing Receivable, Credit Quality Indicator [Line Items] | |||||
Financing Receivable, Modifications, Recorded Investment, During Period | 5,002,000 | 552,000 | 6,059,000 | 592,000 | |
Nonaccruing Financing Receivable Modifications [Member] | Residential Real Estate Commercial [Member] | |||||
Financing Receivable, Credit Quality Indicator [Line Items] | |||||
Financing Receivable, Modifications, Recorded Investment, During Period | 249,000 | 36,000 | 249,000 | ||
Nonaccruing Financing Receivable Modifications [Member] | Residential Real Estate - Mortgage [Member] | |||||
Financing Receivable, Credit Quality Indicator [Line Items] | |||||
Financing Receivable, Modifications, Recorded Investment, During Period | 215,000 | 246,000 | 673,000 | 972,000 | |
Nonaccruing Financing Receivable Modifications [Member] | Residential Real Estate - HELOC [Member] | |||||
Financing Receivable, Credit Quality Indicator [Line Items] | |||||
Financing Receivable, Modifications, Recorded Investment, During Period | 107,000 | 16,000 | 243,000 | 125,000 | |
Nonaccruing Financing Receivable Modifications [Member] | Construction Real Estate - Mortgage [Member] | |||||
Financing Receivable, Credit Quality Indicator [Line Items] | |||||
Financing Receivable, Modifications, Recorded Investment, During Period | 0 | 0 | |||
Nonaccruing Financing Receivable Modifications [Member] | Residential Real Estate - Installment [Member] | |||||
Financing Receivable, Credit Quality Indicator [Line Items] | |||||
Financing Receivable, Modifications, Recorded Investment, During Period | 14,000 | 52,000 | 16,000 | ||
Nonaccruing Financing Receivable Modifications [Member] | Construction Real Estate Commercial [Domain] | |||||
Financing Receivable, Credit Quality Indicator [Line Items] | |||||
Financing Receivable, Modifications, Recorded Investment, During Period | 0 | 0 | |||
Nonaccruing Financing Receivable Modifications [Member] | Consumer Portfolio Segment [Member] | |||||
Financing Receivable, Credit Quality Indicator [Line Items] | |||||
Financing Receivable, Modifications, Recorded Investment, During Period | 542,000 | 590,000 | 987,000 | 1,157,000 | |
Nonaccruing Financing Receivable Modifications [Member] | Commercial Real Estate [Member] | |||||
Financing Receivable, Credit Quality Indicator [Line Items] | |||||
Financing Receivable, Modifications, Recorded Investment, During Period | $ 241,000 | $ 1,154,000 | $ 3,236,000 | $ 1,412,000 |
Allowance For Loan Losses (Acti
Allowance For Loan Losses (Activity In The Allowance For Loan Losses) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | Dec. 31, 2018 | Dec. 31, 2017 | |
Financing Receivable, Allowance for Credit Loss [Line Items] | ||||||
Allowance for Loan and Lease Losses, Reserve Estimate Methodology, Historical Loss Period Factor | 108 months | 96 months | ||||
Financing Receivable, Allowance for Credit Loss, Writeoff | $ 2,479 | $ 3,474 | $ 8,394 | $ 9,640 | ||
Financing Receivable, Allowance for Credit Loss, Recovery | 2,362 | 1,328 | 6,351 | 5,312 | ||
Financing Receivables Allowance For Credit Losses Net Charge Offs | 117 | 2,146 | 2,043 | 4,328 | ||
Allowance for Loan and Lease Losses [Roll Forward] | ||||||
Beginning balance | 54,003 | 49,452 | 51,512 | 49,988 | $ 49,988 | |
Ending balance | 55,853 | 50,246 | 55,853 | 50,246 | 51,512 | $ 49,988 |
Provision for Loan, Lease, and Other Losses | 1,967 | 2,940 | 6,384 | 4,586 | ||
Commercial Financial And Agricultural [Member] | ||||||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||||||
Financing Receivable, Allowance for Credit Loss, Writeoff | 585 | 993 | 1,498 | 1,929 | ||
Financing Receivable, Allowance for Credit Loss, Recovery | 403 | 136 | 983 | 994 | ||
Financing Receivables Allowance For Credit Losses Net Charge Offs | 182 | 857 | 515 | 935 | ||
Allowance for Loan and Lease Losses [Roll Forward] | ||||||
Beginning balance | 17,370 | 14,478 | 16,777 | 15,022 | 15,022 | |
Ending balance | 18,426 | 15,015 | 18,426 | 15,015 | 16,777 | 15,022 |
Provision for Loan, Lease, and Other Losses | 1,238 | 1,394 | 2,164 | 928 | ||
Commercial Real Estate [Member] | ||||||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||||||
Financing Receivable, Allowance for Credit Loss, Writeoff | 8 | 23 | 401 | 252 | ||
Financing Receivable, Allowance for Credit Loss, Recovery | 246 | 27 | 360 | 203 | ||
Financing Receivables Allowance For Credit Losses Net Charge Offs | (238) | (4) | 41 | 49 | ||
Allowance for Loan and Lease Losses [Roll Forward] | ||||||
Beginning balance | 10,377 | 9,406 | 9,768 | 9,601 | 9,601 | |
Ending balance | 10,438 | 9,747 | 10,438 | 9,747 | 9,768 | 9,601 |
Provision for Loan, Lease, and Other Losses | (177) | 337 | 711 | 195 | ||
Construction Real Estate [Member] | ||||||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||||||
Financing Receivable, Allowance for Credit Loss, Writeoff | 0 | 26 | 0 | 57 | ||
Financing Receivable, Allowance for Credit Loss, Recovery | 432 | 156 | 543 | 435 | ||
Financing Receivables Allowance For Credit Losses Net Charge Offs | (432) | (130) | (543) | (378) | ||
Allowance for Loan and Lease Losses [Roll Forward] | ||||||
Beginning balance | 5,065 | 4,652 | 4,463 | 4,430 | 4,430 | |
Ending balance | 5,432 | 4,595 | 5,432 | 4,595 | 4,463 | 4,430 |
Provision for Loan, Lease, and Other Losses | (65) | (187) | 426 | (213) | ||
Residential Real Estate [Member] | ||||||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||||||
Financing Receivable, Allowance for Credit Loss, Writeoff | 85 | 61 | 176 | 279 | ||
Financing Receivable, Allowance for Credit Loss, Recovery | 98 | 130 | 640 | 734 | ||
Financing Receivables Allowance For Credit Losses Net Charge Offs | (13) | (69) | (464) | (455) | ||
Allowance for Loan and Lease Losses [Roll Forward] | ||||||
Beginning balance | 8,869 | 9,245 | 8,731 | 9,321 | 9,321 | |
Ending balance | 8,931 | 9,102 | 8,931 | 9,102 | 8,731 | 9,321 |
Provision for Loan, Lease, and Other Losses | 49 | (212) | (264) | (674) | ||
Consumer [Member] | ||||||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||||||
Financing Receivable, Allowance for Credit Loss, Writeoff | 1,801 | 2,371 | 6,319 | 7,123 | ||
Financing Receivable, Allowance for Credit Loss, Recovery | 1,183 | 875 | 3,824 | 2,942 | ||
Financing Receivables Allowance For Credit Losses Net Charge Offs | 618 | 1,496 | 2,495 | 4,181 | ||
Allowance for Loan and Lease Losses [Roll Forward] | ||||||
Beginning balance | 12,265 | 11,671 | 11,773 | 11,614 | 11,614 | |
Ending balance | 12,555 | 11,787 | 12,555 | 11,787 | 11,773 | 11,614 |
Provision for Loan, Lease, and Other Losses | 908 | 1,612 | 3,277 | 4,354 | ||
Finance Leases Portfolio Segment [Member] | ||||||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||||||
Financing Receivable, Allowance for Credit Loss, Writeoff | 0 | 0 | 0 | 0 | ||
Financing Receivable, Allowance for Credit Loss, Recovery | 0 | 4 | 1 | 4 | ||
Financing Receivables Allowance For Credit Losses Net Charge Offs | 0 | (4) | (1) | (4) | ||
Allowance for Loan and Lease Losses [Roll Forward] | ||||||
Beginning balance | 57 | 0 | 0 | 0 | 0 | |
Ending balance | 71 | 0 | 71 | 0 | $ 0 | $ 0 |
Provision for Loan, Lease, and Other Losses | $ 14 | $ (4) | $ 70 | $ (4) |
Allowance For Loan Losses (Comp
Allowance For Loan Losses (Composition Of The Allowance For Loan Losses) (Details) - USD ($) | Sep. 30, 2019 | Dec. 31, 2018 | |
Financing Receivable, Allowance for Credit Loss [Line Items] | |||
Allowance for loan losses individually evaluated for impairment | $ 3,083,000 | $ 2,273,000 | |
Allowance for loan losses collectively evaluated for impairment | 52,770,000 | 49,239,000 | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Carrying Amount, Net | 0 | 0 | |
Total ending allowance balance | 55,853,000 | 51,512,000 | |
Loans individually evaluated for impairment | 74,424,000 | 48,135,000 | |
Loans collectively evaluated for impairment | 6,308,737,000 | 5,640,054,000 | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Outstanding Balance | 20,486,000 | 3,943,000 | |
Total ending loan balance, net of accrued interest receivable | $ 6,403,647,000 | $ 5,692,132,000 | |
Allowance for loan losses as a percentage of loan balance individually evaluated for impairment | 4.14% | 4.72% | |
Allowance for loan losses as a percentage of loan balance collectively evaluated for impairment | 0.84% | 0.87% | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Allowance as a percentage of loan balance | 0.00% | 0.00% | |
Total ending allowance for loan losses balance as a percentage of loan balance | 0.87% | 0.90% | |
Recorded investment | $ 74,478,000 | $ 48,144,000 | |
Recorded investment collectively evaluated for impairment | 6,328,643,000 | 5,657,693,000 | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Carrying Amount, Net | 20,634,000 | 3,961,000 | |
Recorded Investment | 6,423,755,000 | 5,709,798,000 | |
Commercial Financial And Agricultural [Member] | |||
Financing Receivable, Allowance for Credit Loss [Line Items] | |||
Allowance for loan losses individually evaluated for impairment | 2,917,000 | 2,169,000 | |
Allowance for loan losses collectively evaluated for impairment | 15,509,000 | 14,608,000 | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Carrying Amount, Net | 0 | 0 | |
Total ending allowance balance | 18,426,000 | 16,777,000 | |
Loans individually evaluated for impairment | 31,472,000 | 15,119,000 | |
Loans collectively evaluated for impairment | 1,103,885,000 | 1,057,520,000 | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Outstanding Balance | 4,781,000 | 147,000 | |
Total ending loan balance, net of accrued interest receivable | [1] | $ 1,140,138,000 | $ 1,072,786,000 |
Allowance for loan losses as a percentage of loan balance individually evaluated for impairment | 9.27% | 14.35% | |
Allowance for loan losses as a percentage of loan balance collectively evaluated for impairment | 1.40% | 1.38% | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Allowance as a percentage of loan balance | 0.00% | 0.00% | |
Total ending allowance for loan losses balance as a percentage of loan balance | 1.62% | 1.56% | |
Recorded investment | $ 31,485,000 | $ 15,120,000 | |
Recorded investment collectively evaluated for impairment | 1,109,254,000 | 1,062,121,000 | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Carrying Amount, Net | 4,803,000 | 148,000 | |
Recorded Investment | [1] | 1,145,542,000 | 1,077,389,000 |
Commercial Real Estate [Member] | |||
Financing Receivable, Allowance for Credit Loss [Line Items] | |||
Allowance for loan losses individually evaluated for impairment | 30,000 | 86,000 | |
Allowance for loan losses collectively evaluated for impairment | 10,408,000 | 9,682,000 | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Carrying Amount, Net | 0 | 0 | |
Total ending allowance balance | 10,438,000 | 9,768,000 | |
Loans individually evaluated for impairment | 38,758,000 | 28,418,000 | |
Loans collectively evaluated for impairment | 1,550,422,000 | 1,251,579,000 | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Outstanding Balance | 10,517,000 | 3,048,000 | |
Total ending loan balance, net of accrued interest receivable | [1] | $ 1,599,697,000 | $ 1,283,045,000 |
Allowance for loan losses as a percentage of loan balance individually evaluated for impairment | 0.08% | 0.30% | |
Allowance for loan losses as a percentage of loan balance collectively evaluated for impairment | 0.67% | 0.77% | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Allowance as a percentage of loan balance | 0.00% | 0.00% | |
Total ending allowance for loan losses balance as a percentage of loan balance | 0.65% | 0.76% | |
Recorded investment | $ 38,799,000 | $ 28,426,000 | |
Recorded investment collectively evaluated for impairment | 1,556,070,000 | 1,256,310,000 | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Carrying Amount, Net | 10,595,000 | 3,059,000 | |
Recorded Investment | [1] | 1,605,464,000 | 1,287,795,000 |
Construction Real Estate [Member] | |||
Financing Receivable, Allowance for Credit Loss [Line Items] | |||
Allowance for loan losses individually evaluated for impairment | 0 | 0 | |
Allowance for loan losses collectively evaluated for impairment | 5,432,000 | 4,463,000 | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Carrying Amount, Net | 0 | 0 | |
Total ending allowance balance | 5,432,000 | 4,463,000 | |
Loans individually evaluated for impairment | 1,869,000 | 1,866,000 | |
Loans collectively evaluated for impairment | 314,942,000 | 245,909,000 | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Outstanding Balance | 1,358,000 | 499,000 | |
Total ending loan balance, net of accrued interest receivable | $ 318,169,000 | $ 248,274,000 | |
Allowance for loan losses as a percentage of loan balance individually evaluated for impairment | 0.00% | 0.00% | |
Allowance for loan losses as a percentage of loan balance collectively evaluated for impairment | 1.72% | 1.81% | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Allowance as a percentage of loan balance | 0.00% | 0.00% | |
Total ending allowance for loan losses balance as a percentage of loan balance | 1.71% | 1.80% | |
Recorded investment | $ 1,868,000 | $ 1,866,000 | |
Recorded investment collectively evaluated for impairment | 315,927,000 | 246,864,000 | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Carrying Amount, Net | 1,388,000 | 503,000 | |
Recorded Investment | 319,183,000 | 249,233,000 | |
Residential Real Estate [Member] | |||
Financing Receivable, Allowance for Credit Loss [Line Items] | |||
Allowance for loan losses individually evaluated for impairment | 111,000 | 18,000 | |
Allowance for loan losses collectively evaluated for impairment | 8,820,000 | 8,713,000 | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Carrying Amount, Net | 0 | 0 | |
Total ending allowance balance | 8,931,000 | 8,731,000 | |
Loans individually evaluated for impairment | 2,237,000 | 2,732,000 | |
Loans collectively evaluated for impairment | 1,878,615,000 | 1,790,637,000 | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Outstanding Balance | 3,259,000 | 249,000 | |
Total ending loan balance, net of accrued interest receivable | $ 1,884,111,000 | $ 1,793,618,000 | |
Allowance for loan losses as a percentage of loan balance individually evaluated for impairment | 4.96% | 0.66% | |
Allowance for loan losses as a percentage of loan balance collectively evaluated for impairment | 0.47% | 0.49% | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Allowance as a percentage of loan balance | 0.00% | 0.00% | |
Total ending allowance for loan losses balance as a percentage of loan balance | 0.47% | 0.49% | |
Recorded investment | $ 2,238,000 | $ 2,732,000 | |
Recorded investment collectively evaluated for impairment | 1,882,543,000 | 1,794,207,000 | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Carrying Amount, Net | 3,277,000 | 251,000 | |
Recorded Investment | 1,888,058,000 | 1,797,190,000 | |
Consumer [Member] | |||
Financing Receivable, Allowance for Credit Loss [Line Items] | |||
Allowance for loan losses individually evaluated for impairment | 0 | 0 | |
Allowance for loan losses collectively evaluated for impairment | 12,555,000 | 11,773,000 | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Carrying Amount, Net | 0 | 0 | |
Total ending allowance balance | 12,555,000 | 11,773,000 | |
Loans individually evaluated for impairment | 0 | 0 | |
Loans collectively evaluated for impairment | 1,430,397,000 | 1,292,136,000 | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Outstanding Balance | 3,000 | 0 | |
Total ending loan balance, net of accrued interest receivable | $ 1,430,400,000 | $ 1,292,136,000 | |
Allowance for loan losses as a percentage of loan balance individually evaluated for impairment | 0.00% | 0.00% | |
Allowance for loan losses as a percentage of loan balance collectively evaluated for impairment | 0.88% | 0.91% | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Allowance as a percentage of loan balance | 0.00% | 0.00% | |
Total ending allowance for loan losses balance as a percentage of loan balance | 0.88% | 0.91% | |
Recorded investment | $ 0 | $ 0 | |
Recorded investment collectively evaluated for impairment | 1,434,343,000 | 1,295,892,000 | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Carrying Amount, Net | 3,000 | 0 | |
Recorded Investment | 1,434,346,000 | 1,295,892,000 | |
Finance Leases Portfolio Segment [Member] | |||
Financing Receivable, Allowance for Credit Loss [Line Items] | |||
Allowance for loan losses individually evaluated for impairment | 25,000 | 0 | |
Allowance for loan losses collectively evaluated for impairment | 46,000 | 0 | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Carrying Amount, Net | 0 | 0 | |
Total ending allowance balance | 71,000 | 0 | |
Loans individually evaluated for impairment | 88,000 | 0 | |
Loans collectively evaluated for impairment | 30,476,000 | 2,273,000 | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Outstanding Balance | 568,000 | 0 | |
Total ending loan balance, net of accrued interest receivable | $ 31,132,000 | $ 2,273,000 | |
Allowance for loan losses as a percentage of loan balance individually evaluated for impairment | 28.41% | 0.00% | |
Allowance for loan losses as a percentage of loan balance collectively evaluated for impairment | 0.15% | 0.00% | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Allowance as a percentage of loan balance | 0.00% | 0.00% | |
Total ending allowance for loan losses balance as a percentage of loan balance | 0.23% | 0.00% | |
Recorded investment | $ 88,000 | $ 0 | |
Recorded investment collectively evaluated for impairment | 30,506,000 | 2,299,000 | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Carrying Amount, Net | 568,000 | 0 | |
Recorded Investment | 31,162,000 | 2,299,000 | |
Purchased credit impaired [Member] | |||
Financing Receivable, Allowance for Credit Loss [Line Items] | |||
Loans and Leases Receivable, Gross | 19,180,000 | 3,961,000 | |
Purchased credit impaired [Member] | Commercial Real Estate [Member] | |||
Financing Receivable, Allowance for Credit Loss [Line Items] | |||
Loans and Leases Receivable, Gross | [2] | 10,595,000 | 3,059,000 |
Purchased credit impaired [Member] | Finance Leases Portfolio Segment [Member] | |||
Financing Receivable, Allowance for Credit Loss [Line Items] | |||
Loans and Leases Receivable, Gross | 0 | ||
Purchased credit impaired [Member] | Financial Asset Acquired with Credit Deterioration [Member] | Nonperforming Financial Instruments [Member] | Commercial Portfolio Segment [Member] | |||
Financing Receivable, Allowance for Credit Loss [Line Items] | |||
Allowance for loan losses individually evaluated for impairment | 0 | 0 | |
Loans and Leases Receivable, Gross | 11,000 | 475,000 | |
Recorded Investment | $ 11,000 | $ 475,000 | |
[1] | Included within each of commercial, financial and agricultural loans and commercial real estate loans is an immaterial amount of consumer loans that are not broken out by class. | ||
[2] | * Included within each of commercial, financial and agricultural loans and commercial real estate loans is an immaterial amount of consumer loans that are not broken out by class. |
Mortgage Loans Held For Sale (D
Mortgage Loans Held For Sale (Details) - USD ($) $ in Thousands | 9 Months Ended | 12 Months Ended |
Sep. 30, 2019 | Dec. 31, 2018 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Gain (Loss) on Sale of Mortgage Loans | $ 294 | $ 60 |
Mortgages Held-for-sale, Fair Value Disclosure | 22,000 | 4,200 |
Real Estate Loan [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans Receivable Held-for-sale, Net, Not Part of Disposal Group | $ 21,700 | $ 4,100 |
Goodwill and other intangible_2
Goodwill and other intangibles (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | Dec. 31, 2018 | Dec. 31, 2017 | |
Finite-Lived Intangible Assets [Line Items] | ||||||
Goodwill | $ 157,999 | $ 112,739 | $ 157,999 | $ 112,739 | $ 112,739 | $ 72,334 |
Other Intangible Assets, Net | 15,490 | 7,260 | 15,490 | 7,260 | 6,971 | 0 |
Goodwill, Acquired During Period | 45,260 | 40,405 | 40,405 | |||
Indefinite-lived Intangible Assets Acquired | 10,251 | 7,549 | ||||
Acquired goodwill and intangibles | 55,511 | 47,954 | ||||
Amortization of Intangible Assets | 741 | 289 | 1,732 | 289 | ||
Finite-lived Intangible Assets Acquired | 16,500 | 16,500 | 6,249 | |||
Indefinite-lived Intangible Assets Acquired | 1,300 | 1,300 | 1,300 | |||
Finite-Lived Intangible Assets, Accumulated Amortization | 2,310 | 2,310 | 578 | |||
Finite-Lived Intangible Assets, Amortization Expense, Next Twelve Months | 741 | 741 | ||||
Finite-Lived Intangible Assets, Amortization Expense, Year Two | 2,502 | 2,502 | ||||
Finite-Lived Intangible Assets, Amortization Expense, Year Three | 2,040 | 2,040 | ||||
Finite-Lived Intangible Assets, Amortization Expense, Year Four | 1,725 | 1,725 | ||||
Finite-Lived Intangible Assets, Amortization Expense, Year Five | 1,548 | 1,548 | ||||
Intangible Assets, Gross (Excluding Goodwill) | 17,800 | 17,800 | 7,549 | |||
Intangible Assets, Net (Including Goodwill) | 173,489 | $ 119,999 | 173,489 | $ 119,999 | 119,710 | $ 72,334 |
Core Deposits [Member] | ||||||
Finite-Lived Intangible Assets [Line Items] | ||||||
Finite-Lived Intangible Assets, Accumulated Amortization | 2,310 | 2,310 | 578 | |||
Trade Names [Member] | ||||||
Finite-Lived Intangible Assets [Line Items] | ||||||
Finite-Lived Intangible Assets, Accumulated Amortization | $ 0 | $ 0 | $ 0 |
Investment in Qualified Affor_3
Investment in Qualified Affordable Housing (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | Dec. 31, 2018 | |
Equity Method Investments and Joint Ventures [Abstract] | |||||
Investment in qualified affordable housing tax credits amortization | $ 1,800 | $ 1,900 | $ 5,438 | $ 5,553 | |
Affordable housing tax credit investments | 54,909 | 54,909 | $ 50,347 | ||
Affordable Housing Program Obligation | 28,439 | 28,439 | $ 22,282 | ||
Affordable Housing Tax Credits and Other Tax Benefits, Amount | $ 2,600 | $ 2,000 | $ 6,900 |
Other Real Estate Owned (Detail
Other Real Estate Owned (Details) - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 |
Schedule of Assets Repossessed or Foreclosed, or loans in process of foreclosure [Line Items] | ||
Other Repossessed Assets | $ 4,000 | $ 4,000 |
Other Real Estate, Foreclosed Assets, and Repossessed Assets | 3,779 | 4,303 |
Commercial Real Estate [Member] | ||
Schedule of Assets Repossessed or Foreclosed, or loans in process of foreclosure [Line Items] | ||
Other Real Estate, Foreclosed Assets, and Repossessed Assets | 2,385 | 2,359 |
Construction Real Estate [Member] | ||
Schedule of Assets Repossessed or Foreclosed, or loans in process of foreclosure [Line Items] | ||
Other Real Estate, Foreclosed Assets, and Repossessed Assets | 380 | 1,108 |
Residential Real Estate [Member] | ||
Schedule of Assets Repossessed or Foreclosed, or loans in process of foreclosure [Line Items] | ||
Other Real Estate, Foreclosed Assets, and Repossessed Assets | 1,014 | 836 |
Mortgage Loans in Process of Foreclosure, Amount | $ 2,499 | $ 2,346 |
Loan Servicing (Narrative) (Det
Loan Servicing (Narrative) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | Dec. 31, 2018 | |
Transfers and Servicing of Financial Assets [Abstract] | |||||
Serviced sold mortgage loans | $ 1,410,000 | $ 1,380,000 | $ 1,410,000 | $ 1,380,000 | $ 1,390,000 |
Serviced sold mortgage loans with recourse | 2,400 | 2,600 | 2,400 | 2,600 | $ 2,500 |
Servicing fees included in other service income | 900 | $ 0 | 2,700 | $ 0 | |
Mortgage Loans Sold with Recourse, Reserve | $ 26 | $ 26 |
Loan Servicing (Activity For MS
Loan Servicing (Activity For MSRs And Related Valuation Allowance) (Details) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Servicing Asset at Amortized Value, Balance [Roll Forward] | ||||
Carrying amount, net, beginning of period | $ 10,104,000 | $ 10,077,000 | $ 10,178,000 | $ 9,688,000 |
Additions | 722,000 | 432,000 | 1,462,000 | 1,208,000 |
Amortization | (534,000) | (387,000) | (1,259,000) | (1,156,000) |
Changes in valuation inputs & assumptions | (332,000) | (26,000) | 421,000 | (356,000) |
Carrying amount, net, end of period | 9,960,000 | 10,096,000 | 9,960,000 | 10,096,000 |
Valuation Allowance for Impairment of Recognized Servicing Assets [Roll Forward] | ||||
Valuation allowance, beginning of period | 321,000 | 248,000 | 232,000 | 630,000 |
Changes in valuation allowance | (332,000) | (26,000) | (421,000) | 356,000 |
Valuation allowance, end of period | $ 653,000 | $ 274,000 | $ 653,000 | $ 274,000 |
Leases - Narrative (Details)
Leases - Narrative (Details) - USD ($) | Sep. 30, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Operating Lease, Weighted Average Remaining Lease Term | 7 years 4 months 24 days | ||
Operating Lease, Liability | $ 15,191,000 | $ 0 | |
Deferred Rent Credit | 600,000 | ||
New Accounting Pronouncement or Change in Accounting Principle, Cumulative Effect of Change on Equity or Net Assets | $ (995,000) | ||
Operating Lease, Right-of-Use Asset | $ 14,412,000 | 0 | |
Operating Lease, Weighted Average Discount Rate, Percent | 3.10% | ||
Other Assets [Member] | |||
Operating Lease, Right-of-Use Asset | $ 14,400,000 | 11,000,000 | |
Other Liabilities [Member] | |||
Operating Lease, Liability | $ 15,191,000 | 11,800,000 | |
Retained Earnings [Member] | |||
New Accounting Pronouncement or Change in Accounting Principle, Cumulative Effect of Change on Equity or Net Assets | (143,000) | ||
Adjustments for Change in Accounting Principle [Domain] | Retained Earnings [Member] | |||
New Accounting Pronouncement or Change in Accounting Principle, Cumulative Effect of Change on Equity or Net Assets | $ 143,000 |
Leases - Cost and Other informa
Leases - Cost and Other information (Details) $ in Thousands | 3 Months Ended | 9 Months Ended |
Sep. 30, 2019USD ($) | Sep. 30, 2019USD ($) | |
Lease, Cost [Abstract] | ||
Operating Lease, Cost | $ 831 | $ 2,320 |
Sublease Income | (97) | (285) |
Lease, Cost | 734 | 2,035 |
Operating Lease, Payments | $ 843 | $ 2,336 |
Operating Lease, Weighted Average Remaining Lease Term | 7 years 4 months 24 days | 7 years 4 months 24 days |
Operating Lease, Weighted Average Discount Rate, Percent | 3.10% | 3.10% |
Right-of-Use Asset Obtained in Exchange for Finance Lease Liability | $ 342 | $ 381 |
reductions to right of use assets resulting from reduction in lease obligations | $ (726) | $ (2,021) |
Leases - Operating Lease Liabil
Leases - Operating Lease Liabilities Payments Due (Details) - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 |
Lessee, Lease, Description [Line Items] | ||
Lessee, Operating Lease, Liability, Payments, Due Next Twelve Months | $ 852 | |
Lessee, Operating Lease, Liability, Payments, Due Year Two | 2,868 | |
Lessee, Operating Lease, Liability, Payments, Due Year Three | 2,565 | |
Lessee, Operating Lease, Liability, Payments, Due Year Four | 2,406 | |
Lessee, Operating Lease, Liability, Payments, Due Year Five | 2,294 | |
Lessee, Operating Lease, Liability, Payments, Due after Year Five | 6,044 | |
Lessee, Operating Lease, Liability, Payments, Due | 17,029 | |
Lessee, Operating Lease, Liability, Undiscounted Excess Amount | (1,838) | |
Operating Lease, Liability | 15,191 | $ 0 |
Other Liabilities [Member] | ||
Lessee, Lease, Description [Line Items] | ||
Operating Lease, Liability | $ 15,191 | $ 11,800 |
Repurchase Agreement Borrowin_3
Repurchase Agreement Borrowings (Details) - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 |
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings [Line Items] | ||
Transfers Accounted for as Secured Borrowings, Associated Liabilities, Carrying Amount | $ 160,838 | $ 164,966 |
Pledged Assets Separately Reported, Securities Pledged for Repurchase Agreements, at Fair Value | 188,000 | 272,000 |
Available unpledged securities | 785,000 | 933,000 |
Maturity Overnight [Member] | ||
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings [Line Items] | ||
Transfers Accounted for as Secured Borrowings, Associated Liabilities, Carrying Amount | 160,838 | 164,966 |
Maturity up to 30 days [Member] | ||
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings [Line Items] | ||
Transfers Accounted for as Secured Borrowings, Associated Liabilities, Carrying Amount | 0 | 0 |
Maturity 30 to 90 Days [Member] | ||
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings [Line Items] | ||
Transfers Accounted for as Secured Borrowings, Associated Liabilities, Carrying Amount | 0 | 0 |
Maturity over 90 days [Member] | ||
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings [Line Items] | ||
Transfers Accounted for as Secured Borrowings, Associated Liabilities, Carrying Amount | $ 0 | $ 0 |
Derivatives Narrative (Details)
Derivatives Narrative (Details) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2019 | Sep. 30, 2018 | Dec. 31, 2018 | |
Derivative [Line Items] | ||||
Derivative Assets | $ 422,000 | $ 422,000 | $ 87,000 | |
Interest Income on Interest-rate Swap | 16,000 | 7,000 | $ 0 | |
Borrowing Derivative [Member] | ||||
Derivative [Line Items] | ||||
Derivative, Notional Amount | 25,000,000 | 25,000,000 | 0 | |
Loan Derivative [Member] | ||||
Derivative [Line Items] | ||||
Derivative, Notional Amount | 35,961,000 | 35,961,000 | 0 | |
Interest Rate Lock Commitment [Member] | ||||
Derivative [Line Items] | ||||
Derivative, Notional Amount | $ 28,800,000 | $ 28,800,000 | $ 5,800,000 |
Derivatives Schedule of Derivat
Derivatives Schedule of Derivative Instruments (Details) - USD ($) | 9 Months Ended | |
Sep. 30, 2019 | Dec. 31, 2018 | |
Derivative [Line Items] | ||
Unrealized Gain (Loss) on Cash Flow Hedging Instruments | $ 704,000 | |
Loan Derivative [Member] | ||
Derivative [Line Items] | ||
Derivative, Notional Amount | $ 35,961,000 | $ 0 |
Derivative, Average Fixed Interest Rate | 4.692% | |
Derivative, Average Variable Interest Rate | 4.692% | |
Derivative, Average Remaining Maturity | 10 years 4 months 24 days | |
Unrealized Gain (Loss) on Cash Flow Hedging Instruments | $ 0 | |
Borrowing Derivative [Member] | ||
Derivative [Line Items] | ||
Derivative, Notional Amount | $ 25,000,000 | $ 0 |
Derivative, Average Fixed Interest Rate | 2.595% | |
Derivative, Average Variable Interest Rate | 2.303% | |
Derivative, Average Remaining Maturity | 2 years 8 months 12 days | |
Unrealized Gain (Loss) on Cash Flow Hedging Instruments | $ 704,000 |
Derivatives Schedule of Cash Fl
Derivatives Schedule of Cash Flow Hedges in Accumulated Other Comprehensive Income (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended |
Sep. 30, 2019 | Sep. 30, 2019 | |
Derivative [Line Items] | ||
Unrealized Gain (Loss) on Interest Rate Cash Flow Hedges, Pretax, Accumulated Other Comprehensive Income (Loss) | $ (49) | $ (556) |
Interest Rate Cash Flow Hedge Gain (Loss) Reclassified to Earnings, Net | 0 | 0 |
Gain (Loss) on Cash Flow Hedge Ineffectiveness, Net | $ 0 | $ 0 |
Derivatives Schedule of Cash _2
Derivatives Schedule of Cash Flow Hedge, Statements of Financial Performance and Position, Location (Details) - USD ($) | 9 Months Ended | |
Sep. 30, 2019 | Dec. 31, 2018 | |
Derivative [Line Items] | ||
Unrealized Gain (Loss) on Cash Flow Hedging Instruments | $ (704,000) | |
Borrowing Derivative [Member] | ||
Derivative [Line Items] | ||
Unrealized Gain (Loss) on Cash Flow Hedging Instruments | (704,000) | |
Derivative, Notional Amount | 25,000,000 | $ 0 |
Loan Derivative [Member] | ||
Derivative [Line Items] | ||
Unrealized Gain (Loss) on Cash Flow Hedging Instruments | 0 | |
Derivative, Notional Amount | 35,961,000 | $ 0 |
Other Assets [Member] | Borrowing Derivative [Member] | ||
Derivative [Line Items] | ||
Unrealized Gain (Loss) on Cash Flow Hedging Instruments | 0 | |
Derivative, Notional Amount | 0 | |
Other Assets [Member] | Loan Derivative [Member] | ||
Derivative [Line Items] | ||
Unrealized Gain (Loss) on Cash Flow Hedging Instruments | 2,503,000 | |
Derivative, Notional Amount | 35,163,000 | |
Other Assets [Member] | Interest Rate Swap [Member] | ||
Derivative [Line Items] | ||
Unrealized Gain (Loss) on Cash Flow Hedging Instruments | 2,506,000 | |
Derivative, Notional Amount | 35,961,000 | |
Other Liabilities [Member] | Borrowing Derivative [Member] | ||
Derivative [Line Items] | ||
Unrealized Gain (Loss) on Cash Flow Hedging Instruments | (704,000) | |
Derivative, Notional Amount | 25,000,000 | |
Other Liabilities [Member] | Loan Derivative [Member] | ||
Derivative [Line Items] | ||
Unrealized Gain (Loss) on Cash Flow Hedging Instruments | (3,000) | |
Derivative, Notional Amount | 798,000 | |
Other Liabilities [Member] | Interest Rate Swap [Member] | ||
Derivative [Line Items] | ||
Unrealized Gain (Loss) on Cash Flow Hedging Instruments | (3,210,000) | |
Derivative, Notional Amount | 60,961,000 | |
Individually Immaterial Counterparties [Member] | Other Assets [Member] | Loan Derivative [Member] | ||
Derivative [Line Items] | ||
Unrealized Gain (Loss) on Cash Flow Hedging Instruments | 3,000 | |
Derivative, Notional Amount | 798,000 | |
Individually Immaterial Counterparties [Member] | Other Liabilities [Member] | Loan Derivative [Member] | ||
Derivative [Line Items] | ||
Unrealized Gain (Loss) on Cash Flow Hedging Instruments | (2,503,000) | |
Derivative, Notional Amount | $ 35,163,000 |
Other Comprehensive Income (L_3
Other Comprehensive Income (Loss) (Component Of Accumulated Other Comprehensive Income (Loss)) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||||||||
Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | Dec. 31, 2018 | Dec. 31, 2017 | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||||||||
Other Comprehensive Income (Loss), Transfers from Held-to-maturity to Available-for-Sale Securities, before Tax | $ 24,200 | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Number | 176,007 | 176,007 | ||||||||
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Sale of Securities, before Tax | $ 186 | $ 421 | $ 2,600 | |||||||
Other comprehensive loss before reclassifications | 13,840 | $ (5,141) | 36,841 | (30,919) | ||||||
Other Comprehensive (Income) Loss, Defined Benefit Plan, Reclassification Adjustment from AOCI, after Tax | 0 | 0 | 0 | |||||||
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, after Tax | 0 | 0 | 0 | |||||||
New Accounting Pronouncement or Change in Accounting Principle, Cumulative Effect of Change on Equity or Net Assets | $ (995) | |||||||||
Other Comprehensive (Income) Loss, Defined Benefit Plan, after Reclassification Adjustment, after Tax | 0 | 0 | 0 | 0 | ||||||
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification and Tax | (49) | 0 | (556) | 0 | ||||||
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Sale of Securities, Net of Tax | (147) | 0 | 333 | 2,024 | ||||||
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax | (147) | 333 | 2,024 | |||||||
Other Comprehensive Income (Loss), Securities, Available-for-sale, Adjustment, after Tax | 13,742 | (5,141) | 37,730 | (28,895) | ||||||
Other comprehensive income (loss) | 13,693 | (5,141) | 37,174 | (28,895) | ||||||
Other Comprehensive Income (Loss), Securities, Available-for-sale, Adjustment, before Reclassification Adjustments, after Tax | 13,889 | (5,141) | 37,397 | (30,919) | ||||||
Other Comprehensive (Income) Loss, Defined Benefit Plan, before Reclassification Adjustment, after Tax | 0 | 0 | 0 | 0 | ||||||
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification, after Tax | (49) | 0 | (556) | 0 | ||||||
Changes in pension plan assets and benefit obligations, Net-of-tax amount | (29,672) | $ 29,672 | (26,701) | $ 26,701 | (29,672) | (26,701) | $ 29,672 | 23,526 | ||
AOCI, Cash Flow Hedge, Cumulative Gain (Loss), after Tax | (556) | (507) | 0 | 0 | (556) | 0 | 0 | 0 | ||
Unrealized gains on available-for-sale securities, Net-of-tax amount | 17,614 | 3,872 | (33,449) | (28,308) | 17,614 | (33,449) | (20,116) | (2,928) | ||
Total accumulated other comprehensive income (loss), Net-of-tax amount | (12,614) | (26,307) | (60,150) | (55,009) | $ (12,614) | $ (60,150) | $ (49,788) | (26,454) | ||
Other Comprehensive (Income) Loss, Reclassification Adjustment from AOCI for Write-down of Securities, before Tax | 0 | |||||||||
Accumulated Other Comprehensive Income (loss) [Member] | ||||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||||||||
New Accounting Pronouncement or Change in Accounting Principle, Cumulative Effect of Change on Equity or Net Assets | (3,806) | |||||||||
Other comprehensive income (loss) | $ 13,693 | $ 9,146 | $ 14,335 | $ (5,141) | $ (2,368) | $ (21,386) | ||||
Accumulated Other Comprehensive Income (loss) [Member] | Pension Plan [Member] | ||||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||||||||
New Accounting Pronouncement or Change in Accounting Principle, Cumulative Effect of Change on Equity or Net Assets | (3,175) | |||||||||
Accumulated Other Comprehensive Income (loss) [Member] | Debt Securities [Member] | ||||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||||||||
New Accounting Pronouncement or Change in Accounting Principle, Cumulative Effect of Change on Equity or Net Assets | (631) | |||||||||
Accounting Standards Update 2016-01 [Member] | Accumulated Other Comprehensive Income (loss) [Member] | ||||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||||||||
New Accounting Pronouncement or Change in Accounting Principle, Cumulative Effect of Change on Equity or Net Assets | (995) | |||||||||
Adjustments for New Accounting Pronouncement [Member] | ||||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||||||||
Changes in pension plan assets and benefit obligations, Net-of-tax amount | 23,526 | |||||||||
AOCI, Cash Flow Hedge, Cumulative Gain (Loss), after Tax | 0 | |||||||||
Unrealized gains on available-for-sale securities, Net-of-tax amount | (3,923) | |||||||||
Total accumulated other comprehensive income (loss), Net-of-tax amount | $ (27,449) |
Earnings Per Common Share (Narr
Earnings Per Common Share (Narrative) (Details) - shares | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||||||
Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | Dec. 31, 2018 | |
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items] | |||||||||
Stock Issued During Period, Shares, Acquisitions | 0 | 1,037,205 | 0 | 435,457 | 0 | 0 | 1,037,205 | 435,457 | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number | 194,722 | 194,722 | 152,631 | ||||||
Treasury Stock, Shares, Acquired | 84,603 | 250,000 | 86,650 | 0 | 50,000 | 0 | |||
Common Stock [Member] | |||||||||
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items] | |||||||||
Treasury Stock, Shares, Acquired | 84,603 | 0 | 421,253 | 50,000 | |||||
Performance Shares [Member] | Common Stock [Member] | |||||||||
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items] | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Shares Issued in Period | 0 | 58,740 | 48,053 | ||||||
Restricted Stock Units (RSUs) [Member] | |||||||||
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items] | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 15,700 |
Earnings Per Common Share (Summ
Earnings Per Common Share (Summary Of Computation Of Basic And Diluted Earnings Per Common Share) (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Earnings Per Share [Abstract] | ||||
Income available to common shareholders | $ 31,146 | $ 24,762 | $ 78,764 | $ 84,126 |
Denominator for basic earnings per share (weighted average common shares outstanding) | 16,382,798 | 15,686,542 | 16,198,294 | 15,420,135 |
Effect of dilutive options and warrants | 92,943 | 146,192 | 89,401 | 140,531 |
Denominator for diluted earnings per share (weighted average common shares outstanding adjusted for the effect of dilutive options and warrants) | 16,475,741 | 15,832,734 | 16,287,695 | 15,560,666 |
Basic earnings per common share | $ 1.90 | $ 1.58 | $ 4.86 | $ 5.46 |
Diluted earnings per common share | $ 1.89 | $ 1.56 | $ 4.84 | $ 5.41 |
Segment Information (Schedule O
Segment Information (Schedule Of Operating Results By Segment) (Details) | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2019USD ($) | Sep. 30, 2018USD ($) | Sep. 30, 2019USD ($)segments | Sep. 30, 2018USD ($) | Dec. 31, 2018USD ($) | |
Segment Reporting Information [Line Items] | |||||
Number of Operating Segments | segments | 2 | ||||
Net interest income | $ 77,101,000 | $ 67,676,000 | $ 220,728,000 | $ 197,268,000 | |
Provision for (recovery of) loan losses | 1,967,000 | 2,940,000 | 6,384,000 | 4,586,000 | |
Other income and security gains | 28,136,000 | 24,064,000 | 72,969,000 | 74,209,000 | |
Total other expense | 65,738,000 | 59,316,000 | 192,757,000 | 166,158,000 | |
Income (loss) before income taxes | 37,532,000 | 29,484,000 | 94,556,000 | 100,733,000 | |
Income Tax Expense (Benefit) | 6,386,000 | 4,722,000 | 15,792,000 | 16,607,000 | |
Net Income | 31,146,000 | 24,762,000 | 78,764,000 | 84,126,000 | |
Assets | 8,723,610,000 | 7,756,491,000 | 8,723,610,000 | 7,756,491,000 | $ 7,804,308,000 |
PNB [Member] | |||||
Segment Reporting Information [Line Items] | |||||
Net interest income | 76,180,000 | 66,195,000 | 217,355,000 | 190,319,000 | |
Provision for (recovery of) loan losses | 2,320,000 | 2,935,000 | 6,563,000 | 4,491,000 | |
Other income and security gains | 24,842,000 | 22,559,000 | 68,224,000 | 64,544,000 | |
Total other expense | 60,943,000 | 51,982,000 | 172,931,000 | 149,152,000 | |
Income (loss) before income taxes | 37,759,000 | 33,837,000 | 106,085,000 | 101,220,000 | |
Income Tax Expense (Benefit) | 6,811,000 | 5,981,000 | 19,063,000 | 17,822,000 | |
Net Income | 30,948,000 | 27,856,000 | 87,022,000 | 83,398,000 | |
Assets | 8,673,919,000 | 7,707,474,000 | 8,673,919,000 | 7,707,474,000 | |
GFSC [Member] | |||||
Segment Reporting Information [Line Items] | |||||
Net interest income | 1,244,000 | 1,252,000 | 3,786,000 | 3,818,000 | |
Provision for (recovery of) loan losses | 143,000 | 183,000 | 458,000 | 773,000 | |
Other income and security gains | 59,000 | 63,000 | 142,000 | 135,000 | |
Total other expense | 902,000 | 810,000 | 2,638,000 | 2,412,000 | |
Income (loss) before income taxes | 258,000 | 322,000 | 832,000 | 768,000 | |
Income Tax Expense (Benefit) | 55,000 | 68,000 | 179,000 | 162,000 | |
Net Income | 203,000 | 254,000 | 653,000 | 606,000 | |
Assets | 27,481,000 | 28,551,000 | 27,481,000 | 28,551,000 | |
All Other [Member] | |||||
Segment Reporting Information [Line Items] | |||||
Net interest income | (323,000) | 229,000 | (413,000) | 3,131,000 | |
Provision for (recovery of) loan losses | (496,000) | (178,000) | (637,000) | (678,000) | |
Other income and security gains | 3,235,000 | 1,442,000 | 4,603,000 | 9,530,000 | |
Total other expense | 3,893,000 | 6,524,000 | 17,188,000 | 14,594,000 | |
Income (loss) before income taxes | (485,000) | (4,675,000) | (12,361,000) | (1,255,000) | |
Income Tax Expense (Benefit) | (480,000) | (1,327,000) | (3,450,000) | (1,377,000) | |
Net Income | (5,000) | (3,348,000) | (8,911,000) | 122,000 | |
Assets | $ 22,210,000 | $ 20,466,000 | $ 22,210,000 | $ 20,466,000 |
Share Based Compensation (Detai
Share Based Compensation (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | Dec. 31, 2018 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount | $ 8,923 | $ 8,923 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number | 194,722 | 194,722 | 152,631 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period | (27,719) | (18,800) | |||
Share-based Payment Arrangement, Shares Withheld for Tax Withholding Obligation | 8,736 | 5,879 | |||
Restricted Stock, Shares Issued Net of Shares for Tax Withholdings | 18,983 | 12,921 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeited in Period | (1,262) | ||||
Share-based Payment Arrangement, Expense | $ 1,200 | $ 1,000 | $ 3,800 | $ 3,100 | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Period Increase (Decrease) | (3,368) | ||||
Expense to be paid next twelve months [Domain] | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount | 1,287 | $ 1,287 | |||
Expense to be paid Year Two [Domain] | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount | 4,047 | 4,047 | |||
Expense to be paid Year Three [Domain] | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount | 2,388 | 2,388 | |||
Expense to be paid Year Four [Domain] | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount | 1,038 | 1,038 | |||
Expense to be paid Year Five [Domain] | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount | $ 163 | $ 163 | |||
2017 Employees Long Term Incentive Plan [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 750,000 | 750,000 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | 616,083 | 616,083 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 74,440 | ||||
2017 Non Employee Directors LTIP [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 150,000 | 150,000 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | 127,200 | 127,200 | |||
2013 Long Term Incentive Plan [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number | 60,805 | 60,805 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 600,000 | 600,000 | |||
Performance Shares [Member] | 2017 Employees Long Term Incentive Plan [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 0 | 58,740 | |||
Performance Shares [Member] | 2013 Long Term Incentive Plan [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 48,053 | ||||
Restricted Stock Units (RSUs) [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 15,700 | ||||
Restricted Stock Units (RSUs) [Member] | 2017 Employees Long Term Incentive Plan [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 15,700 | 13,637 |
Benefit Plan (Components Of Net
Benefit Plan (Components Of Net Periodic Benefit Expense) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Defined Benefit Plan Disclosure [Line Items] | ||||
Service cost | $ 1,468 | $ 1,637 | $ 4,404 | $ 4,911 |
Interest cost | 1,373 | 1,309 | 4,119 | 3,927 |
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) | 285 | (68) | 855 | (204) |
Pension plan contributions | 0 | 0 | ||
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract] | ||||
Service cost | 1,468 | 1,637 | 4,404 | 4,911 |
Interest cost | 1,373 | 1,309 | 4,119 | 3,927 |
Expected return on plan assets | (3,026) | (3,354) | (9,078) | (10,062) |
Recognized net actuarial loss | 470 | 340 | 1,410 | 1,020 |
Benefit expense | 285 | (68) | 855 | (204) |
Supplemental Employee Retirement Plan [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Service cost | 202 | 157 | 604 | 635 |
Interest cost | 165 | 188 | 495 | 349 |
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) | 367 | 345 | 1,099 | 984 |
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract] | ||||
Service cost | 202 | 157 | 604 | 635 |
Interest cost | 165 | 188 | 495 | 349 |
Benefit expense | $ 367 | $ 345 | $ 1,099 | $ 984 |
Fair Value (Narrative) (Details
Fair Value (Narrative) (Details) | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||||
Sep. 30, 2019USD ($) | Sep. 30, 2018USD ($) | Sep. 30, 2019USD ($) | Sep. 30, 2018USD ($) | Dec. 31, 2018USD ($) | Jun. 30, 2019USD ($) | Jun. 30, 2018USD ($) | Dec. 31, 2017USD ($) | |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||||||
Loans Receivable, Fair Value Disclosure | $ 6,351,381,000 | $ 6,351,381,000 | $ 5,580,780,000 | |||||
expense related to other repossessed assets | 0 | $ 300,000 | ||||||
New Accounting Pronouncement or Change in Accounting Principle, Cumulative Effect of Change on Equity or Net Assets | $ (995,000) | |||||||
Alternative Investment | 15,989,000 | 15,989,000 | 17,065,000 | |||||
Loans Held-for-sale, Fair Value Disclosure | 21,986,000 | 21,986,000 | 4,158,000 | |||||
Impaired Financing Receivable, Carrying Value | 71,395,000 | $ 71,395,000 | 45,871,000 | |||||
Discount percentage applied to real estate appraised values | 15.00% | |||||||
Discount percentage applied to lot development appraised values | 6.00% | |||||||
Partial Charge-Offs On Impaired Loans | $ 5,633,000 | 11,246,000 | ||||||
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | 3,083,000 | 3,083,000 | 2,273,000 | |||||
Impaired Financing Receivable, Related Allowance | 3,083,000 | 3,083,000 | 2,273,000 | |||||
Impaired Loan Fair Value | 3,679,000 | 3,679,000 | 6,399,000 | |||||
Partial Charge-Offs On Impaired Loans carried at Fair Value | 3,126,000 | 3,630,000 | ||||||
Book Value Of Impaired Loans Carried At Fair Value | 3,820,000 | 3,820,000 | 6,503,000 | |||||
Impaired Financing Receivable, carried at fair value, related expense | 100,000 | 200,000 | 300,000 | |||||
MSR recorded at lower of cost or fair value | 9,960,000 | $ 10,096,000 | 9,960,000 | 10,096,000 | 10,178,000 | $ 10,104,000 | $ 10,077,000 | 9,688,000 |
Mortgage Servicing Rights Fair Value | 7,500,000 | 7,500,000 | 1,200,000 | |||||
Valuation allowance of MSR | 653,000 | 274,000 | 653,000 | 274,000 | 232,000 | $ 321,000 | $ 248,000 | 630,000 |
MSRs recorded at cost | 2,500,000 | 2,500,000 | 9,000,000 | |||||
Changes due to fair value adjustments | (332,000) | (26,000) | (421,000) | 356,000 | ||||
Other Real Estate, Foreclosed Assets, and Repossessed Assets | $ 3,779,000 | $ 3,779,000 | $ 4,303,000 | |||||
Percent of OREO held at fair value | 84.00% | 84.00% | 85.00% | |||||
Other Real Estate, Foreclosed Assets, and Repossessed Assets, Fair Value | $ 3,200,000 | $ 3,200,000 | $ 3,700,000 | |||||
OREO valuation adjustments | 41,000 | 77,000 | 123,000 | 398,000 | ||||
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share, Unfunded Commitments | 3,600,000 | 3,600,000 | 6,100,000 | |||||
Alternative Investment, income recognized | 3,300,000 | $ 415,000 | 5,100,000 | $ 1,200,000 | ||||
Commercial Receivables, excluding Commercial, Financial, and Agricultural [Domain] | ||||||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||||||
Impaired Financing Receivable, Related Allowance | 141,000 | 141,000 | 104,000 | |||||
Financing Receivable, not collateral dependent [Domain] | ||||||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||||||
Impaired Financing Receivable, Related Allowance | 2,942,000 | 2,942,000 | 2,169,000 | |||||
Commercial Real Estate Portfolio Segment [Member] | ||||||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||||||
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | 30,000 | 30,000 | 86,000 | |||||
Construction Real Estate [Member] | ||||||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||||||
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | 0 | 0 | 0 | |||||
Other Real Estate, Foreclosed Assets, and Repossessed Assets | 380,000 | 380,000 | 1,108,000 | |||||
Residential Real Estate [Member] | ||||||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||||||
Other Real Estate, Foreclosed Assets, and Repossessed Assets | 1,014,000 | 1,014,000 | 836,000 | |||||
Retained Earnings [Member] | ||||||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||||||
New Accounting Pronouncement or Change in Accounting Principle, Cumulative Effect of Change on Equity or Net Assets | (143,000) | |||||||
Accounting Standards Update 2016-01 [Member] | Retained Earnings [Member] | ||||||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||||||
New Accounting Pronouncement or Change in Accounting Principle, Cumulative Effect of Change on Equity or Net Assets | $ 1,917,000 | |||||||
Fair Value Measured at Net Asset Value Per Share [Member] | ||||||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||||||
Alternative Investment | 12,400,000 | 12,400,000 | 11,000,000 | |||||
Fair Value, Inputs, Level 3 [Member] | ||||||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||||||
Loans Receivable, Fair Value Disclosure | 6,328,973,000 | 6,328,973,000 | 5,576,535,000 | |||||
Impaired Loan Fair Value | $ 3,679,000 | $ 3,679,000 | $ 6,399,000 | |||||
Measurement Input, Comparability Adjustment [Member] | Fair Value, Inputs, Level 3 [Member] | Valuation, Market Approach [Member] | Maximum [Member] | Commercial Real Estate Portfolio Segment [Member] | Loans Receivable [Member] | ||||||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||||||
Impaired Loans Receivable, Measurement Input | 0.896 | 0.896 | 1.075 | |||||
Measurement Input, Comparability Adjustment [Member] | Fair Value, Inputs, Level 3 [Member] | Valuation, Market Approach [Member] | Maximum [Member] | Commercial Real Estate Portfolio Segment [Member] | Real Estate [Member] | ||||||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||||||
Other Real Estate Owned, Measurement Input | 0.684 | 0.684 | 0.684 | |||||
Measurement Input, Comparability Adjustment [Member] | Fair Value, Inputs, Level 3 [Member] | Valuation, Market Approach [Member] | Maximum [Member] | Construction Real Estate [Member] | Loans Receivable [Member] | ||||||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||||||
Impaired Loans Receivable, Measurement Input | 0.724 | 0.724 | 0.900 | |||||
Measurement Input, Comparability Adjustment [Member] | Fair Value, Inputs, Level 3 [Member] | Valuation, Market Approach [Member] | Maximum [Member] | Construction Real Estate [Member] | Real Estate [Member] | ||||||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||||||
Other Real Estate Owned, Measurement Input | 0.450 | |||||||
Measurement Input, Comparability Adjustment [Member] | Fair Value, Inputs, Level 3 [Member] | Valuation, Market Approach [Member] | Maximum [Member] | Residential Real Estate [Member] | Loans Receivable [Member] | ||||||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||||||
Impaired Loans Receivable, Measurement Input | 0.535 | 0.535 | 0.400 | |||||
Measurement Input, Comparability Adjustment [Member] | Fair Value, Inputs, Level 3 [Member] | Valuation, Market Approach [Member] | Maximum [Member] | Residential Real Estate [Member] | Real Estate [Member] | ||||||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||||||
Other Real Estate Owned, Measurement Input | 0.546 | 0.546 | 0.546 | |||||
Measurement Input, Comparability Adjustment [Member] | Fair Value, Inputs, Level 3 [Member] | Valuation, Market Approach [Member] | Weighted Average [Member] | Commercial Real Estate Portfolio Segment [Member] | Loans Receivable [Member] | ||||||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||||||
Impaired Loans Receivable, Measurement Input | 0.281 | 0.281 | 0.311 | |||||
Measurement Input, Comparability Adjustment [Member] | Fair Value, Inputs, Level 3 [Member] | Valuation, Market Approach [Member] | Weighted Average [Member] | Commercial Real Estate Portfolio Segment [Member] | Real Estate [Member] | ||||||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||||||
Other Real Estate Owned, Measurement Input | 0.311 | 0.311 | 0.347 | |||||
Measurement Input, Comparability Adjustment [Member] | Fair Value, Inputs, Level 3 [Member] | Valuation, Market Approach [Member] | Weighted Average [Member] | Construction Real Estate [Member] | Loans Receivable [Member] | ||||||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||||||
Impaired Loans Receivable, Measurement Input | 0.385 | 0.385 | 0.261 | |||||
Measurement Input, Comparability Adjustment [Member] | Fair Value, Inputs, Level 3 [Member] | Valuation, Market Approach [Member] | Weighted Average [Member] | Construction Real Estate [Member] | Real Estate [Member] | ||||||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||||||
Other Real Estate Owned, Measurement Input | 0.217 | |||||||
Measurement Input, Comparability Adjustment [Member] | Fair Value, Inputs, Level 3 [Member] | Valuation, Market Approach [Member] | Weighted Average [Member] | Residential Real Estate [Member] | Loans Receivable [Member] | ||||||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||||||
Impaired Loans Receivable, Measurement Input | 0.138 | 0.138 | 0.132 | |||||
Measurement Input, Comparability Adjustment [Member] | Fair Value, Inputs, Level 3 [Member] | Valuation, Market Approach [Member] | Weighted Average [Member] | Residential Real Estate [Member] | Real Estate [Member] | ||||||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||||||
Other Real Estate Owned, Measurement Input | 0.346 | 0.346 | 0.425 | |||||
Measurement Input, Comparability Adjustment [Member] | Fair Value, Inputs, Level 3 [Member] | Valuation, Market Approach [Member] | Minimum [Member] | Commercial Real Estate Portfolio Segment [Member] | Loans Receivable [Member] | ||||||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||||||
Impaired Loans Receivable, Measurement Input | 0 | 0 | 0 | |||||
Measurement Input, Comparability Adjustment [Member] | Fair Value, Inputs, Level 3 [Member] | Valuation, Market Approach [Member] | Minimum [Member] | Commercial Real Estate Portfolio Segment [Member] | Real Estate [Member] | ||||||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||||||
Other Real Estate Owned, Measurement Input | 0.009 | 0.009 | 0.009 | |||||
Measurement Input, Comparability Adjustment [Member] | Fair Value, Inputs, Level 3 [Member] | Valuation, Market Approach [Member] | Minimum [Member] | Construction Real Estate [Member] | Loans Receivable [Member] | ||||||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||||||
Impaired Loans Receivable, Measurement Input | 0.001 | 0.001 | 0.050 | |||||
Measurement Input, Comparability Adjustment [Member] | Fair Value, Inputs, Level 3 [Member] | Valuation, Market Approach [Member] | Minimum [Member] | Construction Real Estate [Member] | Real Estate [Member] | ||||||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||||||
Other Real Estate Owned, Measurement Input | 0 | |||||||
Measurement Input, Comparability Adjustment [Member] | Fair Value, Inputs, Level 3 [Member] | Valuation, Market Approach [Member] | Minimum [Member] | Residential Real Estate [Member] | Loans Receivable [Member] | ||||||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||||||
Impaired Loans Receivable, Measurement Input | 0 | 0 | 0 | |||||
Measurement Input, Comparability Adjustment [Member] | Fair Value, Inputs, Level 3 [Member] | Valuation, Market Approach [Member] | Minimum [Member] | Residential Real Estate [Member] | Real Estate [Member] | ||||||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||||||
Other Real Estate Owned, Measurement Input | 0.019 | 0.019 | 0.304 | |||||
Measurement Input, Cap Rate [Member] | Fair Value, Inputs, Level 3 [Member] | Valuation, Income Approach [Member] | Maximum [Member] | Commercial Real Estate Portfolio Segment [Member] | Loans Receivable [Member] | ||||||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||||||
Impaired Loans Receivable, Measurement Input | 0.106 | 0.106 | 0.108 | |||||
Measurement Input, Cap Rate [Member] | Fair Value, Inputs, Level 3 [Member] | Valuation, Income Approach [Member] | Maximum [Member] | Commercial Real Estate Portfolio Segment [Member] | Real Estate [Member] | ||||||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||||||
Other Real Estate Owned, Measurement Input | 0.130 | 0.130 | 0.130 | |||||
Measurement Input, Cap Rate [Member] | Fair Value, Inputs, Level 3 [Member] | Valuation, Income Approach [Member] | Maximum [Member] | Residential Real Estate [Member] | Loans Receivable [Member] | ||||||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||||||
Impaired Loans Receivable, Measurement Input | 0.105 | |||||||
Measurement Input, Cap Rate [Member] | Fair Value, Inputs, Level 3 [Member] | Valuation, Income Approach [Member] | Weighted Average [Member] | Commercial Real Estate Portfolio Segment [Member] | Loans Receivable [Member] | ||||||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||||||
Impaired Loans Receivable, Measurement Input | 0.106 | 0.106 | 0.106 | |||||
Measurement Input, Cap Rate [Member] | Fair Value, Inputs, Level 3 [Member] | Valuation, Income Approach [Member] | Weighted Average [Member] | Commercial Real Estate Portfolio Segment [Member] | Real Estate [Member] | ||||||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||||||
Other Real Estate Owned, Measurement Input | 0.128 | 0.128 | 0.130 | |||||
Measurement Input, Cap Rate [Member] | Fair Value, Inputs, Level 3 [Member] | Valuation, Income Approach [Member] | Weighted Average [Member] | Residential Real Estate [Member] | Loans Receivable [Member] | ||||||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||||||
Impaired Loans Receivable, Measurement Input | 0.105 | |||||||
Measurement Input, Cap Rate [Member] | Fair Value, Inputs, Level 3 [Member] | Valuation, Income Approach [Member] | Minimum [Member] | Commercial Real Estate Portfolio Segment [Member] | Loans Receivable [Member] | ||||||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||||||
Impaired Loans Receivable, Measurement Input | 0.106 | 0.106 | 0.095 | |||||
Measurement Input, Cap Rate [Member] | Fair Value, Inputs, Level 3 [Member] | Valuation, Income Approach [Member] | Minimum [Member] | Commercial Real Estate Portfolio Segment [Member] | Real Estate [Member] | ||||||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||||||
Other Real Estate Owned, Measurement Input | 0.100 | 0.100 | 0.130 | |||||
Measurement Input, Cap Rate [Member] | Fair Value, Inputs, Level 3 [Member] | Valuation, Income Approach [Member] | Minimum [Member] | Residential Real Estate [Member] | Loans Receivable [Member] | ||||||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||||||
Impaired Loans Receivable, Measurement Input | 0.105 | |||||||
Measurement input replacement cost [Member] | Fair Value, Inputs, Level 3 [Member] | Valuation, Cost Approach [Member] | Maximum [Member] | Commercial Real Estate Portfolio Segment [Member] | Loans Receivable [Member] | ||||||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||||||
Impaired Loans Receivable, Measurement Input | 0.931 | 0.931 | 0.901 | |||||
Measurement input replacement cost [Member] | Fair Value, Inputs, Level 3 [Member] | Valuation, Cost Approach [Member] | Weighted Average [Member] | Commercial Real Estate Portfolio Segment [Member] | Loans Receivable [Member] | ||||||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||||||
Impaired Loans Receivable, Measurement Input | 0.724 | 0.724 | 0.110 | |||||
Measurement input replacement cost [Member] | Fair Value, Inputs, Level 3 [Member] | Valuation, Cost Approach [Member] | Minimum [Member] | Commercial Real Estate Portfolio Segment [Member] | Loans Receivable [Member] | ||||||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||||||
Impaired Loans Receivable, Measurement Input | 0.600 | 0.600 | 0.042 | |||||
Fair Value, Nonrecurring [Member] | ||||||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||||||
Loans Receivable, Fair Value Disclosure | $ 3,679,000 | $ 3,679,000 | $ 6,399,000 | |||||
Fair Value, Nonrecurring [Member] | Commercial Real Estate Portfolio Segment [Member] | ||||||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||||||
Loans Receivable, Fair Value Disclosure | 1,862,000 | 1,862,000 | 4,059,000 | |||||
Fair Value, Nonrecurring [Member] | Commercial Real Estate Portfolio Segment [Member] | Loans Receivable [Member] | ||||||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||||||
Impaired Loan Fair Value | 4,059,000 | |||||||
Fair Value, Nonrecurring [Member] | Residential Real Estate [Member] | Loans Receivable [Member] | ||||||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||||||
Impaired Loan Fair Value | 705,000 | |||||||
Fair Value, Nonrecurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||||||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||||||
Loans Receivable, Fair Value Disclosure | 3,679,000 | 3,679,000 | 6,399,000 | |||||
Fair Value, Nonrecurring [Member] | Fair Value, Inputs, Level 3 [Member] | Commercial Real Estate Portfolio Segment [Member] | ||||||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||||||
Loans Receivable, Fair Value Disclosure | $ 1,862,000 | $ 1,862,000 | $ 4,059,000 |
Fair Value (Assets And Liabilit
Fair Value (Assets And Liabilities Measured At Fair Value On A Recurring Basis) (Details) - USD ($) | 9 Months Ended | |
Sep. 30, 2019 | Dec. 31, 2018 | |
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Recurring [Member] | ||
Fair Value, Assets And Liabilities Measured On Recurring Basis [Line Items] | ||
Investments, Fair Value Disclosure | $ 321,905,000 | |
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Fair Value, Assets And Liabilities Measured On Recurring Basis [Line Items] | ||
Investments, Fair Value Disclosure | 321,905,000 | |
U S Government Sponsored Entities Asset Backed Securities [Member] | Fair Value, Recurring [Member] | ||
Fair Value, Assets And Liabilities Measured On Recurring Basis [Line Items] | ||
Investments, Fair Value Disclosure | 938,381,000 | $ 1,003,421,000 |
U S Government Sponsored Entities Asset Backed Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Fair Value, Assets And Liabilities Measured On Recurring Basis [Line Items] | ||
Investments, Fair Value Disclosure | 938,381,000 | 1,003,421,000 |
Loans Receivable [Member] | ||
Fair Value, Assets And Liabilities Measured On Recurring Basis [Line Items] | ||
Swap | 2,506,000 | |
Loans Receivable [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Fair Value, Assets And Liabilities Measured On Recurring Basis [Line Items] | ||
Mortgage IRLCs | 0 | |
Loans Receivable [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Fair Value, Assets And Liabilities Measured On Recurring Basis [Line Items] | ||
Mortgage IRLCs | 2,506,000 | |
Swap | 2,506,000 | |
Loans Receivable [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value, Assets And Liabilities Measured On Recurring Basis [Line Items] | ||
Mortgage IRLCs | 0 | |
Loans Receivable [Member] | Fair Value, Recurring [Member] | ||
Fair Value, Assets And Liabilities Measured On Recurring Basis [Line Items] | ||
Mortgage IRLCs | 2,506,000 | |
Swap | 2,506,000 | |
Loans Receivable [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Fair Value, Assets And Liabilities Measured On Recurring Basis [Line Items] | ||
Mortgage IRLCs | 2,506,000 | |
Swap | 2,506,000 | |
Equity Securities [Member] | ||
Fair Value, Assets And Liabilities Measured On Recurring Basis [Line Items] | ||
Investment securities | 1,889,000 | 1,649,000 |
Equity Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Fair Value, Assets And Liabilities Measured On Recurring Basis [Line Items] | ||
Investment securities | 1,451,000 | 1,225,000 |
Equity Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value, Assets And Liabilities Measured On Recurring Basis [Line Items] | ||
Investment securities | 438,000 | 424,000 |
Equity Securities [Member] | Fair Value, Recurring [Member] | ||
Fair Value, Assets And Liabilities Measured On Recurring Basis [Line Items] | ||
Investments, Fair Value Disclosure | 1,889,000 | 1,649,000 |
Equity Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Fair Value, Assets And Liabilities Measured On Recurring Basis [Line Items] | ||
Investments, Fair Value Disclosure | 1,451,000 | 1,225,000 |
Equity Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value, Assets And Liabilities Measured On Recurring Basis [Line Items] | ||
Investments, Fair Value Disclosure | 438,000 | 424,000 |
Swap [Member] | ||
Fair Value, Assets And Liabilities Measured On Recurring Basis [Line Items] | ||
Swap | 226,000 | 226,000 |
Swap [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Fair Value, Assets And Liabilities Measured On Recurring Basis [Line Items] | ||
Unrealized Gain (Loss) on Cash Flow Hedging Instruments | 704,000 | |
Swap [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value, Assets And Liabilities Measured On Recurring Basis [Line Items] | ||
Swap | 226,000 | 226,000 |
Swap [Member] | Fair Value, Recurring [Member] | ||
Fair Value, Assets And Liabilities Measured On Recurring Basis [Line Items] | ||
Swap | 226,000 | 226,000 |
Swap [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value, Assets And Liabilities Measured On Recurring Basis [Line Items] | ||
Swap | 226,000 | 226,000 |
Cash and Cash Equivalents, Fair Value Disclosure | 372,726,000 | 167,214,000 |
Mortgage loans held for sale | 22,000,000 | 4,200,000 |
Mortgage IRLCs | 422,000 | 87,000 |
Investment securities | 1,260,286,000 | 1,354,843,000 |
Loans Held-for-sale, Fair Value Disclosure | 21,986,000 | 4,158,000 |
Impaired Loan Fair Value | 3,679,000 | 6,399,000 |
Other Assets, Fair Value Disclosure | 6,325,294,000 | 5,570,136,000 |
Loans Receivable, Fair Value Disclosure | 6,351,381,000 | 5,580,780,000 |
Time deposits | 1,133,648,000 | 1,044,620,000 |
Other Liabilities, Fair Value Disclosure | 5,271,000 | 1,267,000 |
Deposits, Fair Value Disclosure | 1,138,919,000 | 1,045,887,000 |
Short Term Borrowings Fair Value | 185,838,000 | 221,966,000 |
Long-term debt | 307,047,000 | 400,203,000 |
Subordinated Debt Obligations, Fair Value Disclosure | 13,810,000 | 12,959,000 |
Unrealized Gain (Loss) on Cash Flow Hedging Instruments | 704,000 | |
Fair Value, Inputs, Level 1 [Member] | ||
Fair Value, Assets And Liabilities Measured On Recurring Basis [Line Items] | ||
Cash and Cash Equivalents, Fair Value Disclosure | 372,726,000 | 167,214,000 |
Mortgage IRLCs | 0 | 0 |
Other Liabilities, Fair Value Disclosure | 5,271,000 | 1,267,000 |
Deposits, Fair Value Disclosure | 5,271,000 | 1,267,000 |
Fair Value, Inputs, Level 2 [Member] | ||
Fair Value, Assets And Liabilities Measured On Recurring Basis [Line Items] | ||
Mortgage IRLCs | 422,000 | 87,000 |
Investment securities | 1,260,286,000 | 1,354,843,000 |
Loans Held-for-sale, Fair Value Disclosure | 21,986,000 | 4,158,000 |
Loans Receivable, Fair Value Disclosure | 22,408,000 | 4,245,000 |
Time deposits | 1,133,648,000 | 1,044,620,000 |
Deposits, Fair Value Disclosure | 1,133,648,000 | 1,044,620,000 |
Short Term Borrowings Fair Value | 185,838,000 | 221,966,000 |
Long-term debt | 307,047,000 | 400,203,000 |
Subordinated Debt Obligations, Fair Value Disclosure | 13,810,000 | 12,959,000 |
Fair Value, Inputs, Level 3 [Member] | ||
Fair Value, Assets And Liabilities Measured On Recurring Basis [Line Items] | ||
Mortgage IRLCs | 0 | 0 |
Impaired Loan Fair Value | 3,679,000 | 6,399,000 |
Other Assets, Fair Value Disclosure | 6,325,294,000 | 5,570,136,000 |
Loans Receivable, Fair Value Disclosure | 6,328,973,000 | 5,576,535,000 |
Fair Value, Recurring [Member] | ||
Fair Value, Assets And Liabilities Measured On Recurring Basis [Line Items] | ||
Mortgage loans held for sale | 21,986,000 | 4,158,000 |
Mortgage IRLCs | 422,000 | 87,000 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Fair Value, Assets And Liabilities Measured On Recurring Basis [Line Items] | ||
Mortgage loans held for sale | 21,986,000 | 4,158,000 |
Mortgage IRLCs | 422,000 | 87,000 |
Reported Value Measurement [Member] | Loans Receivable [Member] | ||
Fair Value, Assets And Liabilities Measured On Recurring Basis [Line Items] | ||
Mortgage IRLCs | 2,506,000 | |
Swap | 2,506,000 | |
Reported Value Measurement [Member] | Equity Securities [Member] | ||
Fair Value, Assets And Liabilities Measured On Recurring Basis [Line Items] | ||
Investment securities | 1,889,000 | 1,649,000 |
Reported Value Measurement [Member] | Swap [Member] | ||
Fair Value, Assets And Liabilities Measured On Recurring Basis [Line Items] | ||
Swap | 226,000 | 226,000 |
Reported Value Measurement [Member] | ||
Fair Value, Assets And Liabilities Measured On Recurring Basis [Line Items] | ||
Cash and Cash Equivalents, Fair Value Disclosure | 372,726,000 | 167,214,000 |
Mortgage IRLCs | 422,000 | 87,000 |
Investment securities | 1,260,286,000 | 1,355,229,000 |
Loans Held-for-sale, Fair Value Disclosure | 21,986,000 | 4,158,000 |
Impaired Loan Fair Value | 3,678,000 | 6,399,000 |
Other Assets, Fair Value Disclosure | 6,321,708,000 | 5,629,976,000 |
Loans Receivable, Fair Value Disclosure | 6,347,794,000 | 5,640,620,000 |
Time deposits | 1,127,366,000 | 1,043,177,000 |
Other Liabilities, Fair Value Disclosure | 5,271,000 | 1,267,000 |
Deposits, Fair Value Disclosure | 1,132,637,000 | 1,044,444,000 |
Short Term Borrowings Fair Value | 185,838,000 | 221,966,000 |
Long-term debt | 297,500,000 | 400,000,000 |
Subordinated Debt Obligations, Fair Value Disclosure | $ 15,000,000 | $ 15,000,000 |
Fair Value (Reconciliation Of L
Fair Value (Reconciliation Of Level 3 Input For Financial Instruments Measured On Recurring Basis) (Details) - Fair Value, Recurring [Member] - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||||
Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | Jun. 30, 2019 | Dec. 31, 2018 | Jun. 30, 2018 | Dec. 31, 2017 | |
U S Government Sponsored Entities Asset Backed Securities [Member] | |||||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||||
Investments, Fair Value Disclosure | $ 938,381 | $ 1,003,421 | |||||
Equity Securities [Member] | |||||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||||
Investments, Fair Value Disclosure | 1,889 | 1,649 | |||||
Fair Value, Inputs, Level 2 [Member] | U S Government Sponsored Entities Asset Backed Securities [Member] | |||||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||||
Investments, Fair Value Disclosure | 938,381 | 1,003,421 | |||||
Fair Value, Inputs, Level 3 [Member] | Equity Securities [Member] | |||||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||||
Investments, Fair Value Disclosure | 438 | 424 | |||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | |||||||
Balance, beginning | $ 424 | 438 | $ 424 | $ 433 | 424 | $ 420 | $ 417 |
Included in other comprehensive income | 14 | 7 | |||||
Balance, ending | 424 | 438 | 424 | 433 | 424 | 420 | 417 |
Fair Value, Inputs, Level 3 [Member] | Swap [Member] | |||||||
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | |||||||
Balance, beginning | (226) | (226) | (226) | (226) | (226) | (226) | (226) |
Included in other comprehensive income | 0 | 0 | 0 | ||||
Balance, ending | $ (226) | $ (226) | $ (226) | $ (226) | $ (226) | $ (226) | $ (226) |
Fair Value (Fair Value Of Finan
Fair Value (Fair Value Of Financial Instruments) (Details) - USD ($) | 9 Months Ended | |
Sep. 30, 2019 | Dec. 31, 2018 | |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Cash and money market instruments | $ 372,726,000 | $ 167,214,000 |
Investment securities | 1,260,286,000 | 1,354,843,000 |
Federal Home Loan Bank Stock | 33,424,000 | 43,388,000 |
Federal Reserve Bank Stock | 14,653,000 | 8,225,000 |
Loans Held-for-sale, Fair Value Disclosure | 21,986,000 | 4,158,000 |
Derivative Assets | 422,000 | 87,000 |
Impaired Loan Fair Value | 3,679,000 | 6,399,000 |
Other loans | 6,325,294,000 | 5,570,136,000 |
Loans receivable, net | 6,351,381,000 | 5,580,780,000 |
Time deposits | 1,133,648,000 | 1,044,620,000 |
Other | 5,271,000 | 1,267,000 |
Total deposits | 1,138,919,000 | 1,045,887,000 |
Short-term borrowings | 185,838,000 | 221,966,000 |
Long-term debt | 307,047,000 | 400,203,000 |
Subordinated debentures/notes | 13,810,000 | 12,959,000 |
Unrealized Gain (Loss) on Cash Flow Hedging Instruments | 704,000 | |
Loans [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Swap | 2,506,000 | |
Equity Securities [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investment securities | 1,889,000 | 1,649,000 |
Swap [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Swap | 226,000 | 226,000 |
Reported Value Measurement [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Cash and money market instruments | 372,726,000 | 167,214,000 |
Investment securities | 1,260,286,000 | 1,355,229,000 |
Loans Held-for-sale, Fair Value Disclosure | 21,986,000 | 4,158,000 |
Derivative Assets | 422,000 | 87,000 |
Impaired Loan Fair Value | 3,678,000 | 6,399,000 |
Other loans | 6,321,708,000 | 5,629,976,000 |
Loans receivable, net | 6,347,794,000 | 5,640,620,000 |
Time deposits | 1,127,366,000 | 1,043,177,000 |
Other | 5,271,000 | 1,267,000 |
Total deposits | 1,132,637,000 | 1,044,444,000 |
Short-term borrowings | 185,838,000 | 221,966,000 |
Long-term debt | 297,500,000 | 400,000,000 |
Subordinated debentures/notes | 15,000,000 | 15,000,000 |
Reported Value Measurement [Member] | Loans [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Derivative Assets | 2,506,000 | |
Swap | 2,506,000 | |
Reported Value Measurement [Member] | Equity Securities [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investment securities | 1,889,000 | 1,649,000 |
Reported Value Measurement [Member] | Swap [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Swap | 226,000 | 226,000 |
Estimate of Fair Value Measurement [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Derivative Assets | 422,000 | 87,000 |
Impaired Loan Fair Value | 6,399,000 | |
Estimate of Fair Value Measurement [Member] | Loans [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Derivative Assets | 2,506,000 | |
Fair Value, Inputs, Level 1 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Cash and money market instruments | 372,726,000 | 167,214,000 |
Derivative Assets | 0 | 0 |
Other | 5,271,000 | 1,267,000 |
Total deposits | 5,271,000 | 1,267,000 |
Fair Value, Inputs, Level 1 [Member] | Loans [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Derivative Assets | 0 | |
Fair Value, Inputs, Level 1 [Member] | Equity Securities [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investment securities | 1,451,000 | 1,225,000 |
Fair Value, Inputs, Level 2 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investment securities | 1,260,286,000 | 1,354,843,000 |
Loans Held-for-sale, Fair Value Disclosure | 21,986,000 | 4,158,000 |
Derivative Assets | 422,000 | 87,000 |
Loans receivable, net | 22,408,000 | 4,245,000 |
Time deposits | 1,133,648,000 | 1,044,620,000 |
Total deposits | 1,133,648,000 | 1,044,620,000 |
Short-term borrowings | 185,838,000 | 221,966,000 |
Long-term debt | 307,047,000 | 400,203,000 |
Subordinated debentures/notes | 13,810,000 | 12,959,000 |
Fair Value, Inputs, Level 2 [Member] | Loans [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Derivative Assets | 2,506,000 | |
Swap | 2,506,000 | |
Fair Value, Inputs, Level 2 [Member] | Swap [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Unrealized Gain (Loss) on Cash Flow Hedging Instruments | 704,000 | |
Fair Value, Inputs, Level 3 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Derivative Assets | 0 | 0 |
Impaired Loan Fair Value | 3,679,000 | 6,399,000 |
Other loans | 6,325,294,000 | 5,570,136,000 |
Loans receivable, net | 6,328,973,000 | 5,576,535,000 |
Fair Value, Inputs, Level 3 [Member] | Loans [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Derivative Assets | 0 | |
Fair Value, Inputs, Level 3 [Member] | Equity Securities [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investment securities | 438,000 | 424,000 |
Fair Value, Inputs, Level 3 [Member] | Swap [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Swap | $ 226,000 | $ 226,000 |
Fair Value Qualitative informat
Fair Value Qualitative information about Level 3 fair value measurements (Details) $ in Thousands | Sep. 30, 2019USD ($) | Dec. 31, 2018USD ($) |
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31) | ||
Impaired Loan Fair Value | $ 3,679 | $ 6,399 |
Other Assets, Fair Value Disclosure | 6,325,294 | 5,570,136 |
Loans Held-for-sale, Fair Value Disclosure | 21,986 | 4,158 |
Fair Value, Inputs, Level 3 [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31) | ||
Impaired Loan Fair Value | 3,679 | 6,399 |
Other Assets, Fair Value Disclosure | 6,325,294 | 5,570,136 |
Fair Value, Nonrecurring [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31) | ||
Other Assets, Fair Value Disclosure | 3,164 | 3,674 |
Fair Value, Nonrecurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31) | ||
Other Assets, Fair Value Disclosure | 3,164 | 3,674 |
Fair Value, Nonrecurring [Member] | Construction Real Estate [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31) | ||
Other Assets, Fair Value Disclosure | 729 | |
Fair Value, Nonrecurring [Member] | Construction Real Estate [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31) | ||
Other Assets, Fair Value Disclosure | 729 | |
Fair Value, Nonrecurring [Member] | Construction Real Estate [Member] | Real Estate [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31) | ||
Other Assets, Fair Value Disclosure | 729 | |
Fair Value, Nonrecurring [Member] | Commercial Real Estate Portfolio Segment [Member] | Loans Receivable [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31) | ||
Impaired Loan Fair Value | 4,059 | |
Fair Value, Nonrecurring [Member] | Commercial Real Estate Portfolio Segment [Member] | Real Estate [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31) | ||
Other Assets, Fair Value Disclosure | 2,385 | 2,295 |
Fair Value, Nonrecurring [Member] | Construction Real Estate Remaining Commercial [Member] | Loans Receivable [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31) | ||
Impaired Loan Fair Value | 1,635 | |
Fair Value, Nonrecurring [Member] | Residential Real Estate [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31) | ||
Other Assets, Fair Value Disclosure | 779 | 650 |
Fair Value, Nonrecurring [Member] | Residential Real Estate [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31) | ||
Other Assets, Fair Value Disclosure | 779 | 650 |
Fair Value, Nonrecurring [Member] | Residential Real Estate [Member] | Loans Receivable [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31) | ||
Impaired Loan Fair Value | 705 | |
Fair Value, Nonrecurring [Member] | Residential Real Estate [Member] | Real Estate [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31) | ||
Other Assets, Fair Value Disclosure | 779 | 650 |
Fair Value [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31) | ||
Impaired Loan Fair Value | $ 6,399 | |
Fair Value [Member] | Fair Value, Nonrecurring [Member] | Commercial Real Estate Portfolio Segment [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31) | ||
Impaired Loan Fair Value | 1,861 | |
Fair Value [Member] | Fair Value, Nonrecurring [Member] | Residential Real Estate [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31) | ||
Impaired Loan Fair Value | 182 | |
Fair Value [Member] | Construction Real Estate Remaining Commercial [Member] | Fair Value, Nonrecurring [Member] | Construction Real Estate [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31) | ||
Impaired Loan Fair Value | $ 1,635 | |
Measurement Input, Comparability Adjustment [Member] | Construction Real Estate [Member] | Loans Receivable [Member] | Minimum [Member] | Valuation, Market Approach [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31) | ||
Impaired Loans Receivable, Measurement Input | 0.001 | 0.050 |
Measurement Input, Comparability Adjustment [Member] | Construction Real Estate [Member] | Loans Receivable [Member] | Maximum [Member] | Valuation, Market Approach [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31) | ||
Impaired Loans Receivable, Measurement Input | 0.724 | 0.900 |
Measurement Input, Comparability Adjustment [Member] | Construction Real Estate [Member] | Loans Receivable [Member] | Weighted Average [Member] | Valuation, Market Approach [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31) | ||
Impaired Loans Receivable, Measurement Input | 0.385 | 0.261 |
Measurement Input, Comparability Adjustment [Member] | Construction Real Estate [Member] | Real Estate [Member] | Minimum [Member] | Valuation, Market Approach [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31) | ||
Other Real Estate Owned, Measurement Input | 0 | |
Measurement Input, Comparability Adjustment [Member] | Construction Real Estate [Member] | Real Estate [Member] | Maximum [Member] | Valuation, Market Approach [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31) | ||
Other Real Estate Owned, Measurement Input | 0.450 | |
Measurement Input, Comparability Adjustment [Member] | Construction Real Estate [Member] | Real Estate [Member] | Weighted Average [Member] | Valuation, Market Approach [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31) | ||
Other Real Estate Owned, Measurement Input | 0.217 | |
Measurement Input, Comparability Adjustment [Member] | Commercial Real Estate Portfolio Segment [Member] | Loans Receivable [Member] | Minimum [Member] | Valuation, Market Approach [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31) | ||
Impaired Loans Receivable, Measurement Input | 0 | 0 |
Measurement Input, Comparability Adjustment [Member] | Commercial Real Estate Portfolio Segment [Member] | Loans Receivable [Member] | Maximum [Member] | Valuation, Market Approach [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31) | ||
Impaired Loans Receivable, Measurement Input | 0.896 | 1.075 |
Measurement Input, Comparability Adjustment [Member] | Commercial Real Estate Portfolio Segment [Member] | Loans Receivable [Member] | Weighted Average [Member] | Valuation, Market Approach [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31) | ||
Impaired Loans Receivable, Measurement Input | 0.281 | 0.311 |
Measurement Input, Comparability Adjustment [Member] | Commercial Real Estate Portfolio Segment [Member] | Real Estate [Member] | Minimum [Member] | Valuation, Market Approach [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31) | ||
Other Real Estate Owned, Measurement Input | 0.009 | 0.009 |
Measurement Input, Comparability Adjustment [Member] | Commercial Real Estate Portfolio Segment [Member] | Real Estate [Member] | Maximum [Member] | Valuation, Market Approach [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31) | ||
Other Real Estate Owned, Measurement Input | 0.684 | 0.684 |
Measurement Input, Comparability Adjustment [Member] | Commercial Real Estate Portfolio Segment [Member] | Real Estate [Member] | Weighted Average [Member] | Valuation, Market Approach [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31) | ||
Other Real Estate Owned, Measurement Input | 0.311 | 0.347 |
Measurement Input, Comparability Adjustment [Member] | Residential Real Estate [Member] | Loans Receivable [Member] | Minimum [Member] | Valuation, Market Approach [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31) | ||
Impaired Loans Receivable, Measurement Input | 0 | 0 |
Measurement Input, Comparability Adjustment [Member] | Residential Real Estate [Member] | Loans Receivable [Member] | Maximum [Member] | Valuation, Market Approach [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31) | ||
Impaired Loans Receivable, Measurement Input | 0.535 | 0.400 |
Measurement Input, Comparability Adjustment [Member] | Residential Real Estate [Member] | Loans Receivable [Member] | Weighted Average [Member] | Valuation, Market Approach [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31) | ||
Impaired Loans Receivable, Measurement Input | 0.138 | 0.132 |
Measurement Input, Comparability Adjustment [Member] | Residential Real Estate [Member] | Real Estate [Member] | Minimum [Member] | Valuation, Market Approach [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31) | ||
Other Real Estate Owned, Measurement Input | 0.019 | 0.304 |
Measurement Input, Comparability Adjustment [Member] | Residential Real Estate [Member] | Real Estate [Member] | Maximum [Member] | Valuation, Market Approach [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31) | ||
Other Real Estate Owned, Measurement Input | 0.546 | 0.546 |
Measurement Input, Comparability Adjustment [Member] | Residential Real Estate [Member] | Real Estate [Member] | Weighted Average [Member] | Valuation, Market Approach [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31) | ||
Other Real Estate Owned, Measurement Input | 0.346 | 0.425 |
Measurement Input, Cap Rate [Member] | Commercial Real Estate Portfolio Segment [Member] | Loans Receivable [Member] | Minimum [Member] | Valuation, Income Approach [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31) | ||
Impaired Loans Receivable, Measurement Input | 0.106 | 0.095 |
Measurement Input, Cap Rate [Member] | Commercial Real Estate Portfolio Segment [Member] | Loans Receivable [Member] | Maximum [Member] | Valuation, Income Approach [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31) | ||
Impaired Loans Receivable, Measurement Input | 0.106 | 0.108 |
Measurement Input, Cap Rate [Member] | Commercial Real Estate Portfolio Segment [Member] | Loans Receivable [Member] | Weighted Average [Member] | Valuation, Income Approach [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31) | ||
Impaired Loans Receivable, Measurement Input | 0.106 | 0.106 |
Measurement Input, Cap Rate [Member] | Commercial Real Estate Portfolio Segment [Member] | Real Estate [Member] | Minimum [Member] | Valuation, Income Approach [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31) | ||
Other Real Estate Owned, Measurement Input | 0.100 | 0.130 |
Measurement Input, Cap Rate [Member] | Commercial Real Estate Portfolio Segment [Member] | Real Estate [Member] | Maximum [Member] | Valuation, Income Approach [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31) | ||
Other Real Estate Owned, Measurement Input | 0.130 | 0.130 |
Measurement Input, Cap Rate [Member] | Commercial Real Estate Portfolio Segment [Member] | Real Estate [Member] | Weighted Average [Member] | Valuation, Income Approach [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31) | ||
Other Real Estate Owned, Measurement Input | 0.128 | 0.130 |
Measurement Input, Cap Rate [Member] | Residential Real Estate [Member] | Loans Receivable [Member] | Minimum [Member] | Valuation, Income Approach [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31) | ||
Impaired Loans Receivable, Measurement Input | 0.105 | |
Measurement Input, Cap Rate [Member] | Residential Real Estate [Member] | Loans Receivable [Member] | Maximum [Member] | Valuation, Income Approach [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31) | ||
Impaired Loans Receivable, Measurement Input | 0.105 | |
Measurement Input, Cap Rate [Member] | Residential Real Estate [Member] | Loans Receivable [Member] | Weighted Average [Member] | Valuation, Income Approach [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31) | ||
Impaired Loans Receivable, Measurement Input | 0.105 | |
Measurement input replacement cost [Member] | Commercial Real Estate Portfolio Segment [Member] | Loans Receivable [Member] | Minimum [Member] | Valuation, Cost Approach [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31) | ||
Impaired Loans Receivable, Measurement Input | 0.600 | 0.042 |
Measurement input replacement cost [Member] | Commercial Real Estate Portfolio Segment [Member] | Loans Receivable [Member] | Maximum [Member] | Valuation, Cost Approach [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31) | ||
Impaired Loans Receivable, Measurement Input | 0.931 | 0.901 |
Measurement input replacement cost [Member] | Commercial Real Estate Portfolio Segment [Member] | Loans Receivable [Member] | Weighted Average [Member] | Valuation, Cost Approach [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31) | ||
Impaired Loans Receivable, Measurement Input | 0.724 | 0.110 |
Fair Value Fair Value (Assets a
Fair Value Fair Value (Assets and liabilities measured at fair value on a nonrecurring basis) (Details) - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Loans Held-for-sale, Fair Value Disclosure | $ 21,986 | $ 4,158 |
Loans Receivable, Fair Value Disclosure | 6,351,381 | 5,580,780 |
Other Assets, Fair Value Disclosure | 6,325,294 | 5,570,136 |
Other Repossessed Assets | 4,000 | 4,000 |
Fair Value, Inputs, Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Loans Held-for-sale, Fair Value Disclosure | 21,986 | 4,158 |
Loans Receivable, Fair Value Disclosure | 22,408 | 4,245 |
Fair Value, Inputs, Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Loans Receivable, Fair Value Disclosure | 6,328,973 | 5,576,535 |
Other Assets, Fair Value Disclosure | 6,325,294 | 5,570,136 |
Fair Value, Nonrecurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Loans Receivable, Fair Value Disclosure | 3,679 | 6,399 |
Servicing Asset at Fair Value, Amount | 7,462 | 1,169 |
Other Assets, Fair Value Disclosure | 3,164 | 3,674 |
Other Repossessed Assets | 3,598 | 3,464 |
Fair Value, Nonrecurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Servicing Asset at Fair Value, Amount | 7,462 | 1,169 |
Fair Value, Nonrecurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Loans Receivable, Fair Value Disclosure | 3,679 | 6,399 |
Other Assets, Fair Value Disclosure | 3,164 | 3,674 |
Other Repossessed Assets | 3,598 | 3,464 |
Commercial Real Estate Portfolio Segment [Member] | Fair Value, Nonrecurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Loans Receivable, Fair Value Disclosure | 1,862 | 4,059 |
Commercial Real Estate Portfolio Segment [Member] | Fair Value, Nonrecurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Loans Receivable, Fair Value Disclosure | 1,862 | 4,059 |
Residential Real Estate [Member] | Fair Value, Nonrecurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Other Assets, Fair Value Disclosure | 779 | 650 |
Residential Real Estate [Member] | Fair Value, Nonrecurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Other Assets, Fair Value Disclosure | 779 | 650 |
Construction Real Estate [Member] | Fair Value, Nonrecurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Other Assets, Fair Value Disclosure | 729 | |
Construction Real Estate [Member] | Fair Value, Nonrecurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Other Assets, Fair Value Disclosure | 729 | |
Commercial Real Estate [Member] | Fair Value, Nonrecurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Other Assets, Fair Value Disclosure | 2,385 | 2,295 |
Commercial Real Estate [Member] | Fair Value, Nonrecurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Other Assets, Fair Value Disclosure | 2,385 | 2,295 |
Residential Real Estate [Member] | Fair Value, Nonrecurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Loans Receivable, Fair Value Disclosure | 182 | 705 |
Residential Real Estate [Member] | Fair Value, Nonrecurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Loans Receivable, Fair Value Disclosure | 182 | 705 |
Construction Real Estate Remaining Commercial [Member] | Fair Value, Nonrecurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Loans Receivable, Fair Value Disclosure | 1,635 | 1,635 |
Construction Real Estate Remaining Commercial [Member] | Fair Value, Nonrecurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Loans Receivable, Fair Value Disclosure | 1,635 | 1,635 |
Reported Value Measurement [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Loans Held-for-sale, Fair Value Disclosure | 21,986 | 4,158 |
Loans Receivable, Fair Value Disclosure | 6,347,794 | 5,640,620 |
Other Assets, Fair Value Disclosure | $ 6,321,708 | $ 5,629,976 |
Fair Value Fair Value (Impaired
Fair Value Fair Value (Impaired Financing Receivables Additional Information) (Details) - USD ($) $ in Thousands | 9 Months Ended | 12 Months Ended | |
Sep. 30, 2019 | Dec. 31, 2018 | Sep. 30, 2018 | |
Schedule of Impaired Financing Receivables Additional Information [Line Items] | |||
Book Value Of Impaired Loans Carried At Fair Value | $ 3,820 | $ 6,503 | |
Partial Charge-Offs On Impaired Loans carried at Fair Value | 3,126 | 3,630 | |
Impaired Financing Receivable, Related Allowance | 3,083 | 2,273 | |
impaired Financing Receivable, loans not held at Fair Value, Carrying Amount | 67,716 | 39,472 | |
Impaired Financing Receivable, Recorded Investment | 74,478 | 48,144 | $ 46,760 |
Impaired Loan Fair Value | 3,679 | 6,399 | |
Impaired Financing Receivable, loans not held at Fair Value, Recorded Investment | 70,658 | 41,641 | |
Partial Charge-offs on Impaired Loans carried at Cost | 2,507 | 7,616 | |
Impaired Financing Receivable, Carrying Value | 71,395 | 45,871 | |
Partial Charge-Offs On Impaired Loans | 5,633 | 11,246 | |
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | 3,083 | 2,273 | |
Financing Receivable, not collateral dependent [Domain] | |||
Schedule of Impaired Financing Receivables Additional Information [Line Items] | |||
Impaired Financing Receivable, Related Allowance | 2,942 | 2,169 | |
Commercial Receivables, excluding Commercial, Financial, and Agricultural [Domain] | |||
Schedule of Impaired Financing Receivables Additional Information [Line Items] | |||
Impaired Financing Receivable, Related Allowance | $ 141 | $ 104 |
Revenue from Contracts with C_3
Revenue from Contracts with Customers (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Disaggregation of Revenue [Line Items] | ||||
Personal trust and agency accounts | $ 2,151 | $ 1,994 | $ 6,757 | $ 6,383 |
Employee benefit and retirement-related accounts | 1,753 | 1,703 | 5,185 | 5,003 |
Investment management and investment advisory agency accounts | 2,547 | 2,353 | 7,421 | 6,936 |
Other | 391 | 368 | 1,137 | 1,157 |
Non-sufficient funds (NSF) fees | 1,911 | 1,926 | 5,241 | 5,608 |
Demand deposit account (DDA) charges | 784 | 764 | 2,336 | 2,503 |
Other | 169 | 171 | 501 | 498 |
Credit card | 587 | 598 | 1,790 | 1,672 |
HELOC | 72 | 128 | 286 | 345 |
Installment | (26) | 66 | 120 | 203 |
Real estate | 3,225 | 2,145 | 7,880 | 6,748 |
Commercial | 402 | 309 | 1,042 | 1,922 |
Debit card fee income | 5,313 | 4,352 | 14,909 | 12,736 |
Bank owned life insurance income | 1,107 | 2,585 | 3,399 | 4,625 |
ATM Fees | 482 | 500 | 1,382 | 1,534 |
OREO valuation adjustments | (41) | (77) | (123) | (398) |
Gain on sale of OREO, net | (53) | (81) | (224) | 4,093 |
Other components of net periodic benefit income | 1,183 | 1,705 | 3,549 | 5,115 |
Other | 2,658 | 2,466 | 5,493 | 5,164 |
Total other income | 28,136 | 24,064 | 72,969 | 74,209 |
Net loss on sale of investment securities (2) | 186 | (421) | (2,271) | |
Gain on equity securities, net | 3,335 | 89 | 5,309 | 4,633 |
Bank Servicing [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from Contract with Customer, Including Assessed Tax | 4,260 | 3,246 | 11,118 | 10,890 |
Within Scope [Domain] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from Contract with Customer, Including Assessed Tax | 1,300 | 1,100 | 4,000 | 4,400 |
Out of Scope [Domain] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from Contract with Customer, Including Assessed Tax | 3,000 | 2,100 | 7,100 | 6,500 |
PNB [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Personal trust and agency accounts | 2,151 | 1,994 | 6,757 | 6,383 |
Employee benefit and retirement-related accounts | 1,753 | 1,703 | 5,185 | 5,003 |
Investment management and investment advisory agency accounts | 2,547 | 2,353 | 7,421 | 6,936 |
Other | 391 | 368 | 1,137 | 1,157 |
Non-sufficient funds (NSF) fees | 1,911 | 1,926 | 5,241 | 5,608 |
Demand deposit account (DDA) charges | 784 | 764 | 2,336 | 2,503 |
Other | 169 | 171 | 501 | 498 |
Credit card | 586 | 592 | 1,785 | 1,652 |
HELOC | 71 | 128 | 282 | 345 |
Installment | 62 | 60 | 203 | 197 |
Real estate | 3,226 | 2,145 | 7,890 | 6,748 |
Commercial | 262 | 291 | 901 | 847 |
Debit card fee income | 5,313 | 4,352 | 14,909 | 12,736 |
Bank owned life insurance income | 1,021 | 960 | 3,116 | 2,822 |
ATM Fees | 482 | 500 | 1,382 | 1,534 |
OREO valuation adjustments | 41 | 78 | 123 | 179 |
Gain on sale of OREO, net | (53) | 36 | (84) | 1,442 |
Other components of net periodic benefit income | 1,147 | 1,653 | 3,440 | 4,957 |
Other | 2,634 | 2,413 | 5,394 | 5,106 |
Total other income | 24,842 | 22,559 | 68,224 | 64,544 |
Net loss on sale of investment securities (2) | 186 | (421) | (2,271) | |
Gain on equity securities, net | 228 | 972 | 520 | |
GFSC [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Personal trust and agency accounts | 0 | 0 | 0 | 0 |
Employee benefit and retirement-related accounts | 0 | 0 | 0 | 0 |
Investment management and investment advisory agency accounts | 0 | 0 | 0 | 0 |
Other | 0 | 0 | 0 | 0 |
Non-sufficient funds (NSF) fees | 0 | 0 | 0 | 0 |
Demand deposit account (DDA) charges | 0 | 0 | 0 | 0 |
Other | 0 | 0 | 0 | 0 |
Credit card | 1 | 6 | 5 | 20 |
HELOC | 0 | 0 | 0 | 0 |
Installment | 0 | 0 | 0 | 0 |
Real estate | 0 | 0 | 0 | 0 |
Commercial | 0 | 0 | 0 | 0 |
Debit card fee income | 0 | 0 | 0 | 0 |
Bank owned life insurance income | 0 | 0 | 0 | 0 |
ATM Fees | 0 | 0 | 0 | 0 |
OREO valuation adjustments | 0 | 0 | 0 | 0 |
Gain on sale of OREO, net | 0 | 0 | 0 | 0 |
Other components of net periodic benefit income | 13 | 18 | 40 | 56 |
Other | 45 | 39 | 97 | 59 |
Total other income | 59 | 63 | 142 | 135 |
Net loss on sale of investment securities (2) | 0 | 0 | 0 | |
Gain on equity securities, net | 0 | 0 | 0 | |
All Other [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Personal trust and agency accounts | 0 | 0 | 0 | 0 |
Employee benefit and retirement-related accounts | 0 | 0 | 0 | 0 |
Investment management and investment advisory agency accounts | 0 | 0 | 0 | 0 |
Other | 0 | 0 | 0 | 0 |
Non-sufficient funds (NSF) fees | 0 | 0 | 0 | 0 |
Demand deposit account (DDA) charges | 0 | 0 | 0 | 0 |
Other | 0 | 0 | 0 | 0 |
Credit card | 0 | 0 | 0 | 0 |
HELOC | 1 | 0 | 4 | 0 |
Installment | (88) | 6 | (83) | 6 |
Real estate | (1) | 0 | (10) | 0 |
Commercial | 140 | 18 | 141 | 1,075 |
Debit card fee income | 0 | 0 | 0 | 0 |
Bank owned life insurance income | 86 | 1,625 | 283 | 1,803 |
ATM Fees | 0 | 0 | 0 | 0 |
OREO valuation adjustments | 0 | (1) | 0 | 219 |
Gain on sale of OREO, net | 0 | (117) | (140) | 2,651 |
Other components of net periodic benefit income | 23 | 34 | 69 | 102 |
Other | (21) | 14 | 2 | (1) |
Total other income | 3,235 | 1,442 | 4,603 | 9,530 |
Net loss on sale of investment securities (2) | $ 0 | 0 | 0 | |
Gain on equity securities, net | $ (139) | $ 4,337 | $ 4,113 |