Document And Entity Information
Document And Entity Information - shares | 6 Months Ended | |
Jun. 30, 2019 | Jul. 31, 2019 | |
Document Information [Line Items] | ||
Entity Central Index Key | 0000861842 | |
Entity Shell Company | false | |
Entity Registrant Name | Cathay General Bancorp | |
Amendment Flag | false | |
Current Fiscal Year End Date | --12-31 | |
Document Fiscal Period Focus | Q2 | |
Document Fiscal Year Focus | 2019 | |
Entity Small Business | false | |
Entity Emerging Growth Company | false | |
Document Quarterly Report | true | |
Document Transition Report | false | |
Document Type | 10-Q | |
Document Period End Date | Jun. 30, 2019 | |
Entity File Number | 001-31830 | |
Entity Incorporation, State or Country Code | DE | |
Entity Tax Identification Number | 95-4274680 | |
Entity Address, Address Line One | 777 North Broadway | |
Entity Address, City or Town | Los Angeles | |
Entity Address, State or Province | CA | |
Entity Address, Postal Zip Code | 90012 | |
City Area Code | 213 | |
Local Phone Number | 625-4700 | |
Title of 12(b) Security | Common Stock | |
Trading Symbol | CATY | |
Security Exchange Name | NASDAQ | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Large Accelerated Filer | |
Entity Common Stock, Shares Outstanding | 79,818,009 |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
Assets | ||
Cash and due from banks | $ 206,123 | $ 225,333 |
Short-term investments and interest-bearing deposits | 351,603 | 374,957 |
Securities available-for-sale (amortized cost of $1,468,452 at June 30, 2019 and $1,267,731 at December 31, 2018) | 1,471,584 | 1,242,509 |
Loans | 14,593,510 | 13,995,788 |
Less: Allowance for loan losses | (122,651) | (122,391) |
Unamortized deferred loan fees, net | (1,415) | (1,565) |
Loans, net | 14,469,444 | 13,871,832 |
Equity securities | 32,498 | 25,098 |
Federal Home Loan Bank stock | 17,250 | 17,250 |
Other real estate owned, net | 11,329 | 12,674 |
Affordable housing investments and alternative energy partnerships, net | 301,410 | 282,734 |
Premises and equipment, net | 102,919 | 103,189 |
Customers’ liability on acceptances | 9,616 | 22,709 |
Accrued interest receivable | 55,711 | 51,650 |
Goodwill | 372,189 | 372,189 |
Other intangible assets, net | 6,782 | 7,194 |
Right-of-use assets - operating leases | 36,515 | 0 |
Other assets | 161,033 | 175,419 |
Total assets | 17,606,006 | 16,784,737 |
Deposits: | ||
Non-interest-bearing demand deposits | 2,758,344 | 2,857,443 |
Interest-bearing deposits: | ||
NOW deposits | 1,267,464 | 1,365,763 |
Money market deposits | 1,909,097 | 2,027,404 |
Savings deposits | 716,206 | 738,656 |
Time deposits | 7,711,811 | 6,713,074 |
Total deposits | 14,362,922 | 13,702,340 |
Advances from the Federal Home Loan Bank | 550,000 | 530,000 |
Other borrowings of affordable housing investments | 30,820 | 17,298 |
Long-term debt | 169,761 | 189,448 |
Deferred payments from acquisition | 18,843 | 18,458 |
Acceptances outstanding | 9,616 | 22,709 |
Lease liabilities - operating leases | 37,858 | 0 |
Other liabilities | 226,889 | 182,618 |
Total liabilities | 15,406,709 | 14,662,871 |
Commitments and contingencies | 0 | 0 |
Stockholders’ Equity | ||
Common stock, $0.01 par value, 100,000,000 shares authorized; 90,017,966 issued and 79,818,003 outstanding at June 30, 2019, and 89,826,317 issued and 80,501,948 outstanding at December 31, 2018 | 900 | 898 |
Additional paid-in-capital | 945,250 | 942,062 |
Accumulated other comprehensive loss, net | (1,358) | (18,006) |
Retained earnings | 1,568,351 | 1,479,149 |
Treasury stock, at cost (10,199,963 shares at June 30, 2019, and 9,324,369 shares at December 31, 2018) | (313,846) | (282,237) |
Total equity | 2,199,297 | 2,121,866 |
Total liabilities and equity | $ 17,606,006 | $ 16,784,737 |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
Securities available-for-sale, amortized cost | $ 1,468,452 | $ 1,267,731 |
Common stock par value (in dollars per share) | $ 0.01 | $ 0.01 |
Common stock shares authorized (in shares) | 100,000,000 | 100,000,000 |
Common stock, shares issued (in shares) | 90,017,966 | 89,826,317 |
Common stock, shares outstanding (in shares) | 79,818,003 | 80,501,948 |
Treasury stock shares (in shares) | 10,199,963 | 9,324,369 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Operations and Comprehensive Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Interest and Dividend Income | ||||
Loans receivable, including loan fees | $ 182,291 | $ 158,659 | $ 360,568 | $ 309,949 |
Investment securities | 8,477 | 7,208 | 15,767 | 13,666 |
Federal Home Loan Bank stock | 298 | 380 | 602 | 776 |
Deposits with banks | 1,383 | 1,273 | 3,273 | 2,829 |
Total interest and dividend income | 192,449 | 167,520 | 380,210 | 327,220 |
Interest Expense | ||||
Time deposits | 39,491 | 18,730 | 73,614 | 34,458 |
Other deposits | 5,588 | 4,832 | 10,965 | 9,418 |
Securities sold under agreements to repurchase | 0 | 608 | 0 | 1,322 |
Advances from Federal Home Loan Bank | 1,725 | 885 | 4,315 | 1,856 |
Long-term debt | 2,007 | 2,163 | 4,139 | 4,245 |
Deferred payments from acquisition | 192 | 271 | 409 | 547 |
Short-term borrowings | 67 | 0 | 73 | 0 |
Total interest expense | 49,070 | 27,489 | 93,515 | 51,846 |
Net interest income before reversal for credit losses | 143,379 | 140,031 | 286,695 | 275,374 |
Reversal for credit losses | 0 | 0 | 0 | (3,000) |
Net interest income after reversal for credit losses | 143,379 | 140,031 | 286,695 | 278,374 |
Non-Interest Income | ||||
Net gains/(losses) from equity securities | 3,237 | (1,124) | 7,400 | (4,971) |
Securities gains/(losses), net | 13 | 0 | 13 | 0 |
Letters of credit commissions | 1,577 | 1,376 | 3,131 | 2,651 |
Depository service fees | 8,092 | 7,015 | 15,204 | 13,882 |
Gain from acquisition | 0 | 0 | 0 | 340 |
Other operating income | 6,724 | 6,274 | 12,673 | 12,371 |
Total non-interest income | 12,794 | 7,767 | 25,715 | 13,077 |
Non-Interest Expense | ||||
Salaries and employee benefits | 33,153 | 30,600 | 65,285 | 60,977 |
Occupancy expense | 5,489 | 5,170 | 11,038 | 10,622 |
Computer and equipment expense | 2,833 | 2,611 | 5,712 | 5,705 |
Professional services expense | 6,000 | 5,730 | 11,257 | 11,769 |
Data processing service expense | 3,081 | 3,151 | 6,491 | 6,370 |
FDIC and regulatory assessments | 2,132 | 2,142 | 4,608 | 4,177 |
Marketing expense | 979 | 3,400 | 3,120 | 4,258 |
Other real estate owned expense/(income) | 369 | (3) | 649 | (215) |
Amortization of investments in low income housing and alternative energy partnerships | 9,102 | 5,113 | 19,912 | 10,874 |
Amortization of core deposit intangibles | 171 | 280 | 343 | 514 |
Acquisition and integration costs | 0 | 1,735 | 0 | 1,904 |
Other operating expense | 6,237 | 3,159 | 12,101 | 7,104 |
Total non-interest expense | 69,546 | 63,088 | 140,516 | 124,059 |
Income before income tax expense | 86,627 | 84,710 | 171,894 | 167,392 |
Income tax expense | 14,383 | 11,046 | 32,971 | 29,912 |
Net income | 72,244 | 73,664 | 138,923 | 137,480 |
Other Comprehensive Income, net of tax | ||||
Unrealized holding gains/(losses) on securities available-for-sale | 11,175 | (2,751) | 19,974 | (14,265) |
Unrealized holding (losses)/gains on cash flow hedge derivatives | (2,102) | 736 | (3,326) | 2,929 |
Total other comprehensive gain/(loss), net of tax | 9,073 | (2,015) | 16,648 | (11,336) |
Total other comprehensive income | $ 81,317 | $ 71,649 | $ 155,571 | $ 126,144 |
Net Income Per Common Share: | ||||
Basic (in dollars per share) | $ 0.90 | $ 0.91 | $ 1.73 | $ 1.69 |
Diluted (in dollars per share) | 0.90 | 0.90 | 1.73 | 1.68 |
Cash dividends (in dollars per share) | $ 0.31 | $ 0.24 | $ 0.62 | $ 0.48 |
Average Common Shares Outstanding: | ||||
Basic (in shares) | 80,106,329 | 81,236,315 | 80,279,859 | 81,180,160 |
Diluted (in shares) | 80,302,679 | 81,774,986 | 80,501,800 | 81,727,977 |
Deposit Account [Member] | ||||
Non-Interest Income | ||||
Depository service fees | $ 1,243 | $ 1,241 | $ 2,498 | $ 2,686 |
Condensed Consolidated Statem_2
Condensed Consolidated Statements of Changes in Stockholders' Equity (Unaudited) - USD ($) $ in Thousands | Common Stock Outstanding [Member] | Additional Paid-in Capital [Member] | AOCI Attributable to Parent [Member] | Retained Earnings [Member] | Treasury Stock [Member] | Total |
Balance (in shares) at Dec. 31, 2017 | 80,893,379 | |||||
Beginning balance, loss, net of tax at Dec. 31, 2017 | $ 891 | $ 932,874 | $ (2,511) | $ 1,281,639 | $ (239,589) | $ 1,973,304 |
Dividend Reinvestment Plan (in shares) | 30,557 | |||||
Dividend Reinvestment Plan | $ 0 | 1,325 | 0 | 0 | 0 | 1,325 |
Restricted stock units vested (in shares) | 89,471 | |||||
Restricted stock units vested | $ 2 | 0 | 0 | 0 | 0 | 2 |
Shares withheld related to net share settlement of RSUs | $ 0 | (1,865) | 0 | 0 | 0 | (1,865) |
Stock issued to directors (in shares) | 16,060 | |||||
Stock issued to directors | $ 0 | 650 | 0 | 0 | 0 | 650 |
Stock-based compensation | 0 | 3,404 | 0 | 0 | 0 | 3,404 |
Cash dividends | 0 | 0 | 0 | (38,966) | 0 | (38,966) |
Change in other comprehensive loss | 0 | 0 | (11,336) | 0 | 0 | (11,336) |
Net income | 0 | 0 | 0 | 137,480 | 0 | 137,480 |
Cumulative effect of changes in accounting principles | 0 | 0 | (8,556) | 8,556 | 0 | 0 |
Reclassification of tax effects in accumulated other comprehensive income resulting from the new corporate income tax rate | $ 0 | 0 | (515) | 515 | 0 | 0 |
Warrants exercised (in shares) | 190,336 | |||||
Warrants exercised | $ 2 | (2) | 0 | 0 | 0 | $ 0 |
Stock options exercised (in shares) | 35,880 | 35,880 | ||||
Stock options exercised | $ 0 | 838 | 0 | 0 | 0 | $ 838 |
Balance (in shares) at Jun. 30, 2018 | 81,255,683 | |||||
Ending balance, loss, net of tax at Jun. 30, 2018 | $ 895 | 937,224 | (22,921) | 1,389,224 | (239,589) | 2,064,833 |
Balance (in shares) at Dec. 31, 2017 | 80,893,379 | |||||
Beginning balance, loss, net of tax at Dec. 31, 2017 | $ 891 | 932,874 | (2,511) | 1,281,639 | (239,589) | 1,973,304 |
Balance (in shares) at Dec. 31, 2018 | 80,501,948 | |||||
Ending balance, loss, net of tax at Dec. 31, 2018 | $ 898 | 942,062 | (18,006) | 1,479,149 | (282,237) | 2,121,866 |
Balance (in shares) at Mar. 31, 2018 | 81,206,998 | |||||
Beginning balance, loss, net of tax at Mar. 31, 2018 | $ 894 | 934,335 | (20,906) | 1,335,058 | (239,589) | 2,009,792 |
Dividend Reinvestment Plan (in shares) | 15,286 | |||||
Dividend Reinvestment Plan | $ 0 | 661 | 0 | 0 | 0 | 661 |
Restricted stock units vested (in shares) | 17,339 | |||||
Restricted stock units vested | $ 1 | 0 | 0 | 0 | 0 | 1 |
Shares withheld related to net share settlement of RSUs | $ 0 | (327) | 0 | 0 | 0 | (327) |
Stock issued to directors (in shares) | 16,060 | |||||
Stock issued to directors | $ 0 | 650 | 0 | 0 | 0 | 650 |
Stock-based compensation | 0 | 1,905 | 0 | 0 | 0 | 1,905 |
Cash dividends | 0 | 0 | 0 | (19,498) | 0 | (19,498) |
Change in other comprehensive loss | 0 | 0 | (2,015) | 0 | 0 | (2,015) |
Net income | $ 0 | 0 | 0 | 73,664 | 0 | 73,664 |
Balance (in shares) at Jun. 30, 2018 | 81,255,683 | |||||
Ending balance, loss, net of tax at Jun. 30, 2018 | $ 895 | 937,224 | (22,921) | 1,389,224 | (239,589) | 2,064,833 |
Balance (in shares) at Dec. 31, 2018 | 80,501,948 | |||||
Beginning balance, loss, net of tax at Dec. 31, 2018 | $ 898 | 942,062 | (18,006) | 1,479,149 | (282,237) | 2,121,866 |
Dividend Reinvestment Plan (in shares) | 47,290 | |||||
Dividend Reinvestment Plan | $ 1 | 1,680 | 0 | 0 | 0 | 1,681 |
Restricted stock units vested (in shares) | 123,199 | |||||
Restricted stock units vested | $ 1 | 0 | 0 | 0 | 0 | 1 |
Shares withheld related to net share settlement of RSUs | $ 0 | (2,300) | 0 | 0 | 0 | (2,300) |
Stock issued to directors (in shares) | 21,160 | |||||
Stock issued to directors | $ 0 | 749 | 0 | 0 | 0 | 749 |
Purchases of treasury stock (in shares) | (875,594) | |||||
Purchases of treasury stock | $ 0 | 0 | 0 | 0 | (31,609) | (31,609) |
Stock-based compensation | 0 | 3,059 | 0 | 0 | 0 | 3,059 |
Cash dividends | 0 | 0 | 0 | (49,721) | 0 | (49,721) |
Change in other comprehensive loss | 0 | 0 | 16,648 | 0 | 0 | 16,648 |
Net income | $ 0 | 0 | 0 | 138,923 | 0 | 138,923 |
Balance (in shares) at Jun. 30, 2019 | 79,818,003 | |||||
Ending balance, loss, net of tax at Jun. 30, 2019 | $ 900 | 945,250 | (1,358) | 1,568,351 | (313,846) | 2,199,297 |
Balance (in shares) at Mar. 31, 2019 | 80,362,840 | |||||
Beginning balance, loss, net of tax at Mar. 31, 2019 | $ 899 | 942,838 | (10,431) | 1,520,861 | (290,838) | 2,163,329 |
Dividend Reinvestment Plan (in shares) | 24,345 | |||||
Dividend Reinvestment Plan | $ 1 | 845 | 0 | 0 | 0 | 846 |
Restricted stock units vested (in shares) | 51,552 | |||||
Restricted stock units vested | $ 0 | 0 | 0 | 0 | 0 | 0 |
Shares withheld related to net share settlement of RSUs | $ 0 | (707) | 0 | 0 | 0 | (707) |
Stock issued to directors (in shares) | 21,160 | |||||
Stock issued to directors | $ 0 | 749 | 0 | 0 | 0 | 749 |
Purchases of treasury stock (in shares) | (641,894) | |||||
Purchases of treasury stock | $ 0 | 0 | 0 | 0 | (23,008) | (23,008) |
Stock-based compensation | 0 | 1,525 | 0 | 0 | 0 | 1,525 |
Cash dividends | 0 | 0 | 0 | (24,754) | 0 | (24,754) |
Change in other comprehensive loss | 0 | 0 | 9,073 | 0 | 0 | 9,073 |
Net income | $ 0 | 0 | 0 | 72,244 | 0 | 72,244 |
Balance (in shares) at Jun. 30, 2019 | 79,818,003 | |||||
Ending balance, loss, net of tax at Jun. 30, 2019 | $ 900 | $ 945,250 | $ (1,358) | $ 1,568,351 | $ (313,846) | $ 2,199,297 |
Condensed Consolidated Statem_3
Condensed Consolidated Statements of Changes in Stockholders' Equity (Unaudited) (Parentheticals) - $ / shares | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Retained Earnings [Member] | ||||
Cash dividends (in dollars per share) | $ 0.31 | $ 0.24 | $ 0.62 | $ 0.48 |
Cash dividends (in dollars per share) | $ 0.31 | $ 0.24 | $ 0.62 | $ 0.48 |
Condensed Consolidated Statem_4
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2019 | Jun. 30, 2018 | |
Cash Flows from Operating Activities | ||
Net income | $ 138,923 | $ 137,480 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Reversal for credit losses | 0 | (3,000) |
Provision for losses on other real estate owned | 494 | 0 |
Deferred tax liability | 8,592 | 2,432 |
Depreciation and amortization | 3,308 | 3,868 |
Amortization of right-of-use asset | 4,146 | 0 |
Change in operating lease liabilities | (3,477) | 0 |
Net gains on sale and transfer of other real estate owned | (193) | (459) |
Proceeds from sales of loans | 0 | 8,000 |
Amortization on alternative energy partnerships, venture capital and other investments | 19,929 | (405) |
Net gain on sales and calls of securities | (13) | 0 |
Amortization/accretion of security premiums/discounts, net | 1,165 | 1,719 |
Unrealized (gain)/loss on equity securities | (7,400) | 4,971 |
Stock based compensation and stock issued to officers as compensation | 3,808 | 4,054 |
Net change in accrued interest receivable and other assets | (46,292) | (8,043) |
Gain on acquisition | 0 | (340) |
Net change in other liabilities | 50,533 | (129) |
Net cash provided by operating activities | 173,523 | 150,148 |
Cash Flows from Investing Activities | ||
Decrease in interest-bearing deposits | 0 | 5,000 |
Purchase of investment securities available-for-sale | (425,661) | (448,805) |
Proceeds from sale of investment securities available-for-sale | 50,225 | 0 |
Proceeds from repayments, maturities and calls of investment securities available-for-sale | 183,563 | 257,339 |
Purchase of Federal Home Loan Bank stock | (975) | (5,430) |
Redemptions of Federal Home Loan Bank stock | 975 | 11,265 |
Net increase in loans | (597,827) | (474,900) |
Purchase of premises and equipment | (2,695) | (2,706) |
Proceeds from sales of other real estate owned | 1,905 | 2,785 |
Net increase in investment in affordable housing and alternative energy partnerships | (23,540) | (19,201) |
Net cash used for investing activities | (814,030) | (674,653) |
Cash Flows from Financing Activities | ||
Net increase in deposits | 660,368 | 414,198 |
Net decrease in federal funds purchased and securities sold under agreements to repurchase | 0 | (50,000) |
Repayment of Federal Home Loan Bank borrowings | (3,180,000) | (2,400,000) |
Cash dividends paid | (49,721) | (38,966) |
Repayment of other borrowings | (19,687) | 0 |
Proceeds from other borrowings | 19,211 | 20,000 |
Purchases of treasury stock | (31,609) | 0 |
Proceeds from shares issued under Dividend Reinvestment Plan | 1,681 | 1,325 |
Proceeds from exercise of stock options | 0 | 838 |
Taxes paid related to net share settlement of RSUs | (2,300) | (3,550) |
Net cash provided by financing activities | 597,943 | 393,845 |
Decrease in cash, cash equivalents, and restricted cash | (42,564) | (130,660) |
Cash, cash equivalents, and restricted cash, beginning of the period | 600,290 | 534,801 |
Cash, cash equivalents, and restricted cash, end of the period | 557,726 | 404,141 |
Supplemental disclosure of cash flow information | ||
Interest | 87,636 | 49,606 |
Income taxes paid | 33,807 | 31,589 |
Non-cash investing and financing activities: | ||
Net change in unrealized holding loss on securities available-for-sale, net of tax | 19,974 | (14,265) |
Net change in unrealized holding loss on cash flow hedge derivatives | (3,326) | 2,929 |
Transfers to other real estate owned from loans held for investment | 860 | 715 |
Business Acquired During the Period [Member] | ||
Cash Flows from Financing Activities | ||
Advances from Federal Home Loan Bank | $ 3,200,000 | $ 2,450,000 |
Note 1 - Business
Note 1 - Business | 6 Months Ended |
Jun. 30, 2019 | |
Notes to Financial Statements | |
Nature of Operations [Text Block] | 1. Cathay General Bancorp (“Bancorp”) is the holding company for Cathay Bank (the “Bank” and, together, with Bancorp, the “Company”), nine limited partnerships investing in affordable housing investments in which the Bank is the sole limited partner, Asia Realty Corp. and GBC Venture Capital, Inc. Bancorp also owns 100% of the common stock of five 1962 June 30, 2019, not |
Note 2 - Basis of Presentation
Note 2 - Basis of Presentation | 6 Months Ended |
Jun. 30, 2019 | |
Notes to Financial Statements | |
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block] | 2. The accompanying unaudited Condensed Consolidated Financial Statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and with the instructions to Form 10 10 X. not not may December 31, 2019. 10 December 31, 2018. The preparation of the Condensed Consolidated Financial Statements in accordance with GAAP requires management of the Company to make estimates and judgements that affect the reported amounts of assets and liabilities, revenues, and expenses, and related disclosures of contingent assets and liabilities at the date of the Condensed Consolidated Financial Statements. Actual results could differ from those estimates. The Company expects that the most significant estimates subject to change are the allowance for loan losses. |
Note 3 - Recent Accounting Pron
Note 3 - Recent Accounting Pronouncements | 6 Months Ended |
Jun. 30, 2019 | |
Notes to Financial Statements | |
New Accounting Pronouncements and Changes in Accounting Principles [Text Block] | 3. Accounting Standards A dopted in 201 9 In February 2016, 2016 02, 842 842 No. 2018 01, 842”; No. 2018 10, 842, No. 2018 11, 12 The Company has adopted this guidance using the modified-retrospective transition method, which allows the adoption of the accounting standard prospectively without adjusting comparative prior period financial information using the effective date as our date of initial application. Consequently, financial information will not not January 1, 2019. The new standard provides a number of optional practical expedients in transition. We have elected the ‘package of practical expedients’, which permits us not Upon adoption, we recognized an operating lease liability of $41.2 million, and a corresponding ROU asset of $40.6 million based on the present value of the remaining minimum lease payments under current leasing standards for existing operating leases. The Company elected the short-term lease recognition exemption for all leases that qualify. This means, for those leases that qualify, we will not not not 10. In March 2017, 2017 08, 310 20 not December 15, 2018. not 2017 8. In August 2017, 2017 12, 815 2017 12 January 1, 2019 not In October 2018, 2018 16, 815 815 2018 16 January 1, 2019 not In March 2019, 2016 02, 842 not 842 may 820, 1 942, 2 3 1 2. not 3 842. December 15, 2019, 842 January 1, 2019 842 10 65 1 Other Accounting Standards In June 2016, 2016 13, 326 not 2016 13 December 15, 2019. 2016 13 not 2016 13 In January 2017, 2017 04, 350 2 2 December 15, 2019. 2017 04 not In July 2017, 2017 11, 260 480 815 two 480, December 15, 2020. first 250 10 45 5 45 10. not not In August 2018, No. 2018 13, no 1 2 3 No. 2018 13 December 15, 2019; No. 2018 13 not In April 2019, No. 2019 04, 326, 815, 825, 2016 13 2017 12 2016 01 2016 01 2016 13 December 15, 2019 2017 12 2017 12 2016 01 not 2019 04 2016 13 2019 04 In May 2019, No. 2019 05, 326 2016 13, 1 2 326 20 825 10. not 2019 05 2016 13 first 2020 not 2019 05 not |
Note 4 - Cash, Cash Equivalents
Note 4 - Cash, Cash Equivalents and Restricted Cash | 6 Months Ended |
Jun. 30, 2019 | |
Notes to Financial Statements | |
Cash and Cash Equivalents Disclosure [Text Block] | 4. The Company manages its cash and cash equivalents, which consist of cash on hand, amounts due from banks, and short-term investments with original maturity of three The Company is required to maintain reserves with the Federal Reserve Bank. Reserve requirements are based on a percentage of deposit liabilities. The average reserve balances required were $161 thousand and $5.4 million for the six June 30, 2019 December 31, 2018, June 30, 2019 December 31, 2018, June 30, 2019 December 31, 2018, In the unaudited condensed consolidated statement of cash flows, the amounts for the six June 30, 2018 |
Note 5 - Earnings Per Share
Note 5 - Earnings Per Share | 6 Months Ended |
Jun. 30, 2019 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | 5. Basic earnings per share excludes dilution and is computed by dividing net income available to common stockholders by the weighted-average number of common shares outstanding for the period. Diluted earnings per share reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock and resulted in the issuance of common stock that then shared in earnings. Outstanding stock options and restricted stock units (“RSUs”) with anti-dilutive effect were not Three months ended June 30, Six months ended June 30, 2019 2018 2019 2018 (In thousands, except share and per share data) Net income $ 72,244 $ 73,664 $ 138,923 $ 137,480 Weighted-average shares: Basic weighted-average number of common shares outstanding 80,106,329 81,236,315 80,279,859 81,180,160 Dilutive effect of weighted-average outstanding common share equivalents Warrants — 278,080 — 286,718 RSUs 196,350 260,591 221,941 261,099 Diluted weighted-average number of common shares outstanding 80,302,679 81,774,986 80,501,800 81,727,977 Average stock options and restricted stock units with anti-dilutive effect 66,339 6,521 55,502 22,624 Earnings per common share: Basic $ 0.90 $ 0.91 $ 1.73 $ 1.69 Diluted $ 0.90 $ 0.90 $ 1.73 $ 1.68 |
Note 6 - Stock-based Compensati
Note 6 - Stock-based Compensation | 6 Months Ended |
Jun. 30, 2019 | |
Notes to Financial Statements | |
Share-based Payment Arrangement [Text Block] | 6. Pursuant to the Company’s 2005 may There were 35,880 stock option shares exercised in the six June 30, 2018 six June 30, 2018. RSUs are granted at no one three Performance-based RSUs are granted at the target amount of awards. Based on the Company’s attainment of specified performance goals and consideration of market conditions, the number of shares that vest can be adjusted to a minimum of 0 and to a maximum of 150% of the target. The amount of performance-based RSUs that are eligible to vest is determined at the end of each performance period and is then added together to determine the total number of performance shares that are eligible to vest. Performance-based RSUs generally cliff vest 3 years from the date of grant. Compensation costs for the time-based awards are based on the quoted market price of the Company’s stock at the grant date. Compensation costs associated with performance-based RSUs are based on grant date fair value, which considers both market and performance conditions. Compensation costs of both time-based and performance-based awards are recognized on a straight-line basis from the grant date until the vesting date of each grant. The following table presents RSU activity during the six June 30, 2019: Time-Based RSUs Performance-Based RSUs Weighted-Average Weighted-Average Grant Date Grant Date Shares Fair Value Shares Fair Value Balance at December 31, 2018 284,493 $ 35.79 265,659 $ 32.90 Granted 18,818 38.36 35,092 38.36 Vested (92,868 ) 35.12 (92,501 ) 38.36 Forfeited (16,672 ) 38.31 — — Balance at June 30, 2019 193,771 $ 36.14 208,250 $ 31.39 The compensation expense recorded for RSUs was $1.5 million and $1.9 million for the three June 30, 2019 2018, six June 30, 2019 2018, June 30, 2019 2018, June 30, 2019, As of June 30, 2019, 2005 Tax benefit from share-based payment arrangements reduced income tax expense by $0. six June 30, 2019 2018, |
Note 7 - Investment Securities
Note 7 - Investment Securities | 6 Months Ended |
Jun. 30, 2019 | |
Notes to Financial Statements | |
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | 7. The following tables set forth the amortized cost, gross unrealized gains, gross unrealized losses, and fair value of securities available-for-sale as of June 30, 2019, December 31, 2018: June 30, 2019 Gross Gross Amortized Unrealized Unrealized Cost Gains Losses Fair Value (In thousands) Securities Available-for-Sale U.S. treasury securities $ 49,750 $ 41 $ — $ 49,791 U.S. government agency entities 76,695 715 158 77,252 U.S. government sponsored entities 400,000 — 1,660 398,340 Mortgage-backed securities 842,315 6,336 2,546 846,105 Collateralized mortgage obligations 795 — 18 777 Corporate debt securities 98,897 465 43 99,319 Total $ 1,468,452 $ 7,557 $ 4,425 $ 1,471,584 December 31, 2018 Gross Gross Amortized Unrealized Unrealized Cost Gains Losses Fair Value (In thousands) Securities Available-for-Sale U.S. treasury securities $ 124,801 $ — $ 50 $ 124,751 U.S. government agency entities 6,066 — 195 5,871 U.S. government sponsored entities 400,000 — 11,638 388,362 Mortgage-backed securities 670,874 960 15,089 656,745 Collateralized mortgage obligations 1,005 — 28 977 Corporate debt securities 64,985 818 — 65,803 Total $ 1,267,731 $ 1,778 $ 27,000 $ 1,242,509 The amortized cost and fair value of securities available-for-sale as of June 30, 2019, may may Securities Available-For-Sale Amortized Cost Fair Value (In thousands) Due in one year or less $ 69,741 $ 69,890 Due after one year through five years 479,550 478,222 Due after five years through ten years 23,551 23,637 Due after ten years 895,610 899,835 Total $ 1,468,452 $ 1,471,584 Equity Securities 2016 01 January 1, 2018. three June 30, 2019, three June 30, 2018. six June 30, 2019, six June 30, 2018. June 30, 2019 December 31, 2018, The following tables set forth the gross unrealized losses and related fair value of the Company’s investment portfolio, aggregated by investment category and the length of time that individual security has been in a continuous unrealized loss position, as of June 30, 2019 December 31, 2018: June 30, 2019 Less than 12 Months 12 Months or Longer Total Gross Gross Gross Fair Unrealized Fair Unrealized Fair Unrealized Value Losses Value Losses Value Losses (In thousands) Securities Available-for-Sale U.S. government agency entities $ 23,606 $ 7 $ 4,334 $ 151 $ 27,940 $ 158 U.S. government sponsored entities — — 398,340 1,660 398,340 1,660 Mortgage-backed securities 2,874 7 360,270 2,539 363,144 2,546 Collateralized mortgage obligations — — 777 18 777 18 Corporate debt securities 33,863 43 — — 33,863 43 Total $ 60,343 $ 57 $ 763,721 $ 4,368 $ 824,064 $ 4,425 December 31, 2018 Less than 12 Months 12 Months or Longer Total Gross Gross Gross Fair Unrealized Fair Unrealized Fair Unrealized Value Losses Value Losses Value Losses (In thousands) Securities Available-for-Sale U.S. treasury securities $ 124,751 $ 50 $ — $ — $ 124,751 $ 50 U.S. government agency entities 3,388 77 2,483 118 5,871 195 U.S. government sponsored entities — — 388,362 11,638 388,362 11,638 Mortgage-backed securities 48,528 502 507,701 14,587 556,229 15,089 Collateralized mortgage obligations — — 977 28 977 28 Total $ 176,667 $ 629 $ 899,523 $ 26,371 $ 1,076,190 $ 27,000 To the Company’s knowledge, the unrealized losses were primarily attributed to yield curve movement, together with widened liquidity spreads and credit spreads. The issuers have not, no not six June 30, 2019 2018. Securities available-for-sale having a carrying value of $21.8 million and $28.5 million as of June 30, 2019 December 31, 2018, |
Note 8 - Loans
Note 8 - Loans | 6 Months Ended |
Jun. 30, 2019 | |
Notes to Financial Statements | |
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | 8 . Loans Most of the Company’s business activities are with customers located in the high-density Asian-populated areas of Southern and Northern California; New York City, New York; Dallas and Houston, Texas; Seattle, Washington; Boston, Massachusetts; Chicago, Illinois; Edison, New Jersey; Rockville, Maryland; and Las Vegas, Nevada. The Company also has loan customers in Hong Kong. The Company has no The types of loans in the Company’s Condensed Consolidated Balance Sheets as of June 30, 2019, December 31, 2018, June 30, 2019 December 31, 2018 (In thousands) Commercial loans $ 2,772,982 $ 2,741,965 Residential mortgage loans 3,967,135 3,693,853 Commercial mortgage loans 6,945,562 6,724,200 Equity lines 302,351 249,967 Real estate construction loans 598,849 581,454 Installment and other loans 6,631 4,349 Gross loans $ 14,593,510 $ 13,995,788 Allowance for loan losses (122,651 ) (122,391 ) Unamortized deferred loan fees, net (1,415 ) (1,565 ) Total loans, net $ 14,469,444 $ 13,871,832 As of June 30, 2019, December 31, 2018, June 30, 2019 December 31, 2018, The following table presents the average recorded investment and interest income recognized on impaired loans for the periods indicated: Three Months Ended June 30, Six Months Ended June 30, 2019 2018 2019 2018 Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized (In thousands) Commercial loans $ 46,792 $ 587 $ 46,763 $ 498 $ 42,388 $ 820 $ 45,978 $ 825 Real estate construction loans 4,726 — 8,378 — 4,771 — 8,258 — Commercial mortgage loans 54,404 448 64,004 633 56,724 942 61,316 1,264 Residential mortgage loans and equity lines 12,983 81 14,664 93 13,123 165 14,189 186 Total impaired loans $ 118,905 $ 1,116 $ 133,809 $ 1,224 $ 117,006 $ 1,927 $ 129,741 $ 2,275 The following table presents impaired loans and the related allowance for loan losses as of the dates indicated: June 30, 2019 December 31, 2018 Unpaid Principal Balance Recorded Investment Allowance Unpaid Principal Balance Recorded Investment Allowance (In thousands) With no allocated allowance Commercial loans $ 45,022 $ 40,260 $ — $ 32,015 $ 30,368 $ — Real estate construction loans 5,776 4,702 — 5,776 4,873 — Commercial mortgage loans 33,410 23,436 — 34,129 24,409 — Residential mortgage loans and equity lines 7,043 6,997 — 5,685 5,665 — Subtotal $ 91,251 $ 75,395 $ — $ 77,605 $ 65,315 $ — With allocated allowance Commercial loans $ 12,577 $ 12,563 $ 832 $ 6,653 $ 6,570 $ 1,837 Commercial mortgage loans 25,761 25,704 620 27,099 27,063 877 Residential mortgage loans and equity lines 7,055 5,984 234 8,934 7,938 1,088 Subtotal $ 45,393 $ 44,251 $ 1,686 $ 42,686 $ 41,571 $ 3,802 Total impaired loans $ 136,644 $ 119,646 $ 1,686 $ 120,291 $ 106,886 $ 3,802 The following tables present the aging of the loan portfolio by type as of June 30, 2019, December 31, 2018: June 30, 2019 30-59 Days Past Due 60-89 Days Past Due 90 Days or More Past Due Non-accrual Loans Total Past Due Loans Not Past Due Total (In thousands) Commercial loans $ 4,998 $ 970 $ — $ 28,070 $ 34,038 $ 2,738,944 $ 2,772,982 Real estate construction loans 2,827 — — 4,702 7,529 591,320 598,849 Commercial mortgage loans 4,930 4,264 14,469 14,515 38,178 6,907,384 6,945,562 Residential mortgage loans and equity lines — 511 — 7,461 7,972 4,261,514 4,269,486 Installment and other loans — — — — — 6,631 6,631 Total loans $ 12,755 $ 5,745 $ 14,469 $ 54,748 $ 87,717 $ 14,505,793 $ 14,593,510 December 31, 2018 30-59 Days Past Due 60-89 Days Past Due 90 Days or More Past Due Non-accrual Loans Total Past Due Loans Not Past Due Total (In thousands) Commercial loans $ 25,494 $ 2,454 $ 514 $ 18,805 $ 47,267 $ 2,694,698 $ 2,741,965 Real estate construction loans — 3,156 — 4,872 8,028 573,426 581,454 Commercial mortgage loans 10,797 8,545 3,259 10,611 33,212 6,690,988 6,724,200 Residential mortgage loans and equity lines 9,687 336 — 7,527 17,550 3,926,270 3,943,820 Installment and other loans — — — — — 4,349 4,349 Total loans $ 45,978 $ 14,491 $ 3,773 $ 41,815 $ 106,057 $ 13,889,731 $ 13,995,788 The determination of the amount of the allowance for loan losses for impaired loans is based on management’s current judgment about the credit quality of the loan portfolio and takes into consideration known relevant internal and external factors that affect collectability when determining the appropriate level for the allowance for loan losses. The nature of the process by which the Bank determines the appropriate allowance for loan losses requires the exercise of considerable judgment. This allowance evaluation process is also applied to TDRs since they are considered to be impaired loans. The allowance for loan losses and the reserve for off-balance sheet credit commitments are significant estimates that can and do change based on management’s process in analyzing the loan portfolio and on management’s assumptions about specific borrowers, underlying collateral, and applicable economic, market and environmental conditions, among other factors. A TDR is a formal modification of the terms of a loan when the lender, for economic or legal reasons related to the borrower’s financial difficulties, grants a concession to the borrower. The concessions may TDRs on accrual status are comprised of the loans that have, pursuant to the Bank’s policy, performed under the restructured terms and have demonstrated sustained performance under the modified terms for six As of June 30, 2019, December 31, 2018. June 30, 2019, December 31, 2018. three six June 30, 2019 2018, June 30, 2019 2018, three six June 30, 2019 2018: Three Months Ended June 30, 2019 June 30, 2019 No. of Contracts Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment Charge-offs Specific Reserve (In thousands) Commercial loans 19 $ 16,405 $ 15,551 $ 811 $ 37 Total 19 $ 16,405 $ 15,551 $ 811 $ 37 Three Months Ended June 30, 2018 June 30, 2018 No. of Contracts Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment Charge-offs Specific Reserve (In thousands) Commercial loans 15 $ 5,127 $ 5,127 $ — $ — Total 15 $ 5,127 $ 5,127 $ — $ — Six Months Ended June 30, 2019 June 30, 2019 No. of Contracts Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment Charge-offs Specific Reserve (In thousands) Commercial loans 20 $ 18,352 $ 16,381 $ 811 $ 37 Total 20 $ 18,352 $ 16,381 $ 811 $ 37 Six Months Ended June 30, 2018 June 30, 2018 No. of Contracts Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment Charge-offs Specific Reserve (In thousands) Commercial loans 18 $ 7,590 $ 7,590 $ — $ — Commercial mortgage loans 6 14,287 14,287 — 126 Residential mortgage loans and equity lines 2 801 801 — 8 Total 26 $ 22,678 $ 22,678 $ — $ 134 Modifications of the loan terms in the six June 30, 2019 three twelve We expect that the TDRs on accruing status as of June 30, 2019, June 30, 2019, December 31, 2018, June 30, 2019 Payment Deferral Rate Reduction Rate Reduction and Payment Deferral Total (In thousands) Accruing TDRs Commercial loans $ 24,753 $ — $ — $ 24,753 Commercial mortgage loans 9,761 5,775 19,090 34,626 Residential mortgage loans 3,010 321 2,188 5,519 Total accruing TDRs $ 37,524 $ 6,096 $ 21,278 $ 64,898 June 30, 2019 Payment Deferral Rate Reduction Rate Reduction and Payment Deferral Total (In thousands) Non-accrual TDRs Commercial loans $ 16,278 $ — $ — $ 16,278 Commercial mortgage loans — — 4,417 4,417 Residential mortgage loans 1,658 — 104 1,762 Total non-accrual TDRs $ 17,936 $ — $ 4,521 $ 22,457 December 31, 2018 Payment Deferral Rate Reduction Rate Reduction and Payment Deferral Total (In thousands) Accruing TDRs Commercial loans $ 18,135 $ — $ — $ 18,135 Commercial mortgage loans 14,022 7,420 19,418 40,860 Residential mortgage loans 3,353 327 2,396 6,076 Total accruing TDRs $ 35,510 $ 7,747 $ 21,814 $ 65,071 December 31, 2018 Payment Deferral Rate Reduction Rate Reductio and Payment Deferral Total (In thousands) Non-accrual TDRs Commercial loans $ 13,771 $ — $ — $ 13,771 Commercial mortgage loans 3,682 — 4,884 8,566 Residential mortgage loans 1,741 — 111 1,852 Total non-accrual TDRs $ 19,194 $ — $ 4,995 $ 24,189 The activity within TDRs for the periods indicated is set forth below: Three Months Ended June 30, Six Months Ended June 30, 2019 2018 2019 2018 (In thousands) Accruing TDRs Beginning balance $ 62,948 $ 82,785 $ 65,071 $ 68,566 New restructurings 13,244 5,127 15,192 22,447 Restructured loans restored to accrual status — — — 2,318 Payments (9,998 ) (2,855 ) (14,069 ) (6,746 ) Restructured loans placed on non-accrual status (1,296 ) (570 ) (1,296 ) (2,098 ) Ending balance $ 64,898 $ 84,487 $ 64,898 $ 84,487 Three Months Ended June 30, Six Months Ended June 30, 2019 2018 2019 2018 (In thousands) Non-accrual TDRs Beginning balance $ 23,301 $ 31,195 $ 24,189 $ 33,415 New restructurings 3,160 — 3,160 231 Restructured loans placed on non-accrual status 1,296 570 1,296 2,098 Charge-offs (811 ) (161 ) (1,218 ) (161 ) Payments (4,489 ) (1,257 ) (4,970 ) (2,918 ) Restructured loans restored to accrual status — — — (2,318 ) Ending balance $ 22,457 $ 30,347 $ 22,457 $ 30,347 The Company considers a loan to be in payment default once it is 60 to 90 days contractually past due under the modified terms. The Company did not twelve June 30, 2019. Under the Company’s internal underwriting policy, an evaluation is performed of the probability that the borrower will be in payment default on any of its debt in the foreseeable future without the modification in order to determine whether a borrower is experiencing financial difficulty. As of June 30, 2019, As part of the on-going monitoring of the credit quality of our loan portfolio, the Company utilizes a risk grading matrix to assign a risk grade to each loan. The risk rating categories can be generally described by the following grouping for non-homogeneous loans: ● Pass/Watch – ● Special Mention – not may ● Substandard – may not not ● Doubtful – may ● Loss – no The following tables set forth the loan portfolio by risk rating as of June 30, 2019, December 31, 2018: June 30, 2019 Pass/Watch Special Mention Substandard Doubtful Total (In thousands) Commercial loans $ 2,568,884 $ 111,658 $ 92,440 $ — $ 2,772,982 Real estate construction loans 538,843 55,303 4,703 — 598,849 Commercial mortgage loans 6,632,331 222,932 90,299 — 6,945,562 Residential mortgage loans and equity lines 4,260,303 939 8,244 — 4,269,486 Installment and other loans 6,631 — — — 6,631 Total gross loans $ 14,006,992 $ 390,832 $ 195,686 $ — $ 14,593,510 December 31, 2018 Pass/Watch Special Mention Substandard Doubtful Total (In thousands) Commercial loans $ 2,603,901 $ 87,987 $ 50,077 $ — $ 2,741,965 Real estate construction loans 514,406 62,175 4,873 — 581,454 Commercial mortgage loans 6,337,368 304,791 82,041 — 6,724,200 Residential mortgage loans and equity lines 3,934,762 — 9,058 — 3,943,820 Installment and other loans 4,349 — — — 4,349 Total gross loans $ 13,394,786 $ 454,953 $ 146,049 $ — $ 13,995,788 The following tables set forth the balance in the allowance for loan losses by portfolio segment and based on impairment method as of June 30, 2019, December 31, 2018: June 30, 2019 Real Estate Commercial Residential Installment Commercial Construction Mortgage Mortgage Loans and Loans Loans Loans and Equity Lines Other Loans Total (In thousands) Loans individually evaluated for impairment Allowance $ 832 $ — $ 620 $ 234 $ — $ 1,686 Balance $ 52,823 $ 4,702 $ 49,140 $ 12,981 $ — $ 119,646 Loans collectively evaluated for impairment Allowance $ 53,461 $ 21,010 $ 32,534 $ 13,930 $ 30 $ 120,965 Balance $ 2,720,159 $ 594,147 $ 6,896,422 $ 4,256,505 $ 6,631 $ 14,473,864 Total allowance $ 54,293 $ 21,010 $ 33,154 $ 14,164 $ 30 $ 122,651 Total balance $ 2,772,982 $ 598,849 $ 6,945,562 $ 4,269,486 $ 6,631 $ 14,593,510 December 31, 2018 Real Estate Commercial Residential Installment Commercial Construction Mortgage Mortgage Loans and Loans Loans Loans and Equity Lines Other Loans Total (In thousands) Loans individually evaluated for impairment Allowance $ 1,837 $ — $ 877 $ 1,088 $ — $ 3,802 Balance $ 36,940 $ 4,873 $ 51,471 $ 13,602 $ — $ 106,886 Loans collectively evaluated for impairment Allowance $ 53,141 $ 19,626 $ 32,610 $ 13,194 $ 18 $ 118,589 Balance $ 2,705,025 $ 576,581 $ 6,672,729 $ 3,930,218 $ 4,349 $ 13,888,902 Total allowance $ 54,978 $ 19,626 $ 33,487 $ 14,282 $ 18 $ 122,391 Total balance $ 2,741,965 $ 581,454 $ 6,724,200 $ 3,943,820 $ 4,349 $ 13,995,788 The following tables set forth activity in the allowance for loan losses by portfolio segment for the three six June 30, 2019, June 30, 2018. one not Three months ended June 30, 2019 and 2018 Residential Real Estate Commercial Mortgage Loans Installment Commercial Construction Mortgage and and Other Loans Loans Loans Equity Lines Loans Total (In thousands) March 31, 2019 Ending Balance $ 54,750 $ 20,723 $ 33,073 $ 13,975 $ 34 $ 122,555 Provision/(reversal) for possible credit losses (100 ) 257 (180 ) 27 (4 ) — Charge-offs (1,713 ) — — — — (1,713 ) Recoveries 1,356 30 261 162 — 1,809 Net (charge-offs)/recoveries (357 ) 30 261 162 — 96 June 30, 2019 Ending Balance $ 54,293 $ 21,010 $ 33,154 $ 14,164 $ 30 $ 122,651 Residential Real Estate Commercial Mortgage Loans Installment Commercial Construction Mortgage and and Other Loans Loans Loans Equity Lines Loans Total (In thousands) March 31, 2018 Ending Balance $ 54,597 $ 21,864 $ 34,230 $ 11,372 $ 21 $ 122,084 Provision/(reversal) for possible credit losses 920 (1,245 ) (533 ) 860 (2 ) — Charge-offs (488 ) — (161 ) (229 ) — (878 ) Recoveries 150 44 440 59 — 693 Net (charge-offs)/recoveries (338 ) 44 279 (170 ) — (185 ) June 30, 2018 Ending Balance $ 55,179 $ 20,663 $ 33,976 $ 12,062 $ 19 $ 121,899 Six months ended June 30, 2019 and 2018 Residential Real Estate Commercial Mortgage Loans Installment Commercial Construction Mortgage and and Other Loans Loans Loans Equity Lines Loans Total (In thousands) 2019 Beginning Balance $ 54,978 $ 19,626 $ 33,487 $ 14,282 $ 18 $ 122,391 Provision/(reversal) for possible credit losses 862 310 (746 ) (438 ) 12 — Charge-offs (2,944 ) — — — — (2,944 ) Recoveries 1,397 1,074 413 320 — 3,204 Net (charge-offs)/recoveries (1,547 ) 1,074 413 320 — 260 June 30, 2019 Ending Balance $ 54,293 $ 21,010 $ 33,154 $ 14,164 $ 30 $ 122,651 Reserve for impaired loans $ 832 $ — $ 620 $ 234 $ — $ 1,686 Reserve for non-impaired loans $ 53,461 $ 21,010 $ 32,534 $ 13,930 $ 30 $ 120,965 Reserve for off-balance sheet credit commitments $ 2,090 $ 2,029 $ 137 $ 290 $ 4 $ 4,550 Residential Real Estate Commercial Mortgage Loans Installment Commercial Construction Mortgage and and Other Loans Loans Loans Equity Lines Loans Total (In thousands) 2018 Beginning Balance $ 49,796 $ 24,838 $ 37,610 $ 11,013 $ 22 $ 123,279 Provision/(reversal) for possible credit losses 4,827 (4,263 ) (4,696 ) 1,135 (3 ) (3,000 ) Charge-offs (507 ) — (161 ) (229 ) — (897 ) Recoveries 1,063 88 1,223 143 — 2,517 Net recoveries/(charge-offs) 556 88 1,062 (86 ) — 1,620 June 30, 2018 Ending Balance $ 55,179 $ 20,663 $ 33,976 $ 12,062 $ 19 $ 121,899 Reserve for impaired loans $ 2,463 $ — $ 1,036 $ 334 $ — $ 3,833 Reserve for non-impaired loans $ 52,716 $ 20,663 $ 32,940 $ 11,728 $ 19 $ 118,066 Reserve for off-balance sheet credit commitments $ 1,606 $ 1,207 $ 77 $ 190 $ 8 $ 3,088 |
Note 9 - Commitments and Contin
Note 9 - Commitments and Contingencies | 6 Months Ended |
Jun. 30, 2019 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | 9. From time to time, Bancorp and its subsidiaries are parties to litigation that arise in the ordinary course of business or otherwise are incidental to various aspects of its operations. Based upon information available to the Company and its review of any such litigation with counsel, management believes that the liability relating to such litigation, if any, would not not may not may In the normal course of business, the Company becomes a party to financial instruments with off-balance sheet risk to meet the financing needs of its customers. These financial instruments include commitments to extend credit in the form of loans, or through commercial or standby letters of credit and financial guarantees. These instruments represent varying degrees of exposure to risk in excess of the amounts included in the accompanying Condensed Consolidated Balance Sheets. The contractual or notional amount of these instruments indicates a level of activity associated with a particular class of financial instrument and is not The Company’s unfunded commitments related to investments in qualified affordable housing and alternative energy partnerships were $117.3 million and $113.0 million as of June 30, 2019 December 31, 2018, |
Note 10 - Leases
Note 10 - Leases | 6 Months Ended |
Jun. 30, 2019 | |
Notes to Financial Statements | |
Lessee, Operating Leases [Text Block] | 10. The Company determines if a contract arrangement is a lease at inception and primarily enters into operating lease contracts for its branch locations, office space and certain equipment. As part of its property lease agreements, the Company may not Accounting Policy Elections - not not not Significant Assumptions - June 30, 2019. As of June 30, 2019, three six June 30, 2019, three six June 30, 2019, 5 June 30, 2019. As of June 30, 2019 Operating Leases (In thousands) Remaining 2019 $ 4,208 2020 8,511 2021 7,603 2022 6,417 2023 5,416 Thereafter 9,521 Total lease payments 41,676 Less amount of payment representing interest (3,818 ) Total present value of lease payments $ 37,858 The following table shows future minimum payments under operating leases with terms in excess of one December 31, 2018. As of December 31, 2018 Operating Leases (In thousands) 2019 $ 8,835 2020 7,220 2021 6,406 2022 5,406 2023 4,208 Thereafter 4,899 Total minimum lease payments $ 36,974 |
Note 11 - Borrowed Funds
Note 11 - Borrowed Funds | 6 Months Ended |
Jun. 30, 2019 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | 11. Borrowing s from the F ederal H ome L oan B ank (“FHLB ”) - June 30, 2019, December 31, 2018. June 30, 2019 December 31, 2018. June 30, 2019, July 2019, December 2019, May 2021, June 2021, July 2021, May 2023. Other Borrowing s - $17.6 three June 30, 2019, July 2019 July 2020. Long-term Debt - October 12, 2017, one June 30, 2019, December 31, 2018. December 31, 2018, October 12, 2020. The Company established three 2003 two 2007 twenty may not, At June 30, 2019, December 31, 2018. |
Note 12 - Income Taxes
Note 12 - Income Taxes | 6 Months Ended |
Jun. 30, 2019 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | 12. The effective tax rate for the first six 2019 first six 2018. first six 2019 $0. The Company’s tax returns are open for audit by the Internal Revenue Service back to 2015 and by the California Franchise Tax Board back to 2014. The Company is currently under audit by the Internal Revenue Service for 2017. It is reasonably possible that unrecognized tax benefits could change significantly over the next twelve not |
Note 13 - Fair Value Measuremen
Note 13 - Fair Value Measurements | 6 Months Ended |
Jun. 30, 2019 | |
Notes to Financial Statements | |
Fair Value Measurement and Measurement Inputs, Recurring and Nonrecurring [Text Block] | 1 3 . Fair Value Measurement s The Company determined the fair values of our financial instruments based on the following: ● Level 1 ● Level 2 not not ● Level 3 The Company uses the following methodologies to measure the fair value of its financial assets and liabilities on a recurring basis: Securities Available for Sale 1 2 Equity Securities – 1 Foreign Exchange Contracts 2 Warrants 3 Interest Rate Swaps third 2 Assets measured at estimated fair value on a non-recurring basis: Certain assets or liabilities are required to be measured at estimated fair value on a nonrecurring basis subsequent to initial recognition. Generally, these adjustments are the result of lower-of-cost-or-fair value or other impairment write-downs of individual assets. In determining the estimated fair values during the period, the Company determined that substantially all the changes in estimated fair value were due to declines in market conditions versus instrument specific credit risk. For the six June 30, 2019 December 31, 2018, no The following tables present the Company’s hierarchy for its assets and liabilities measured at fair value on a recurring basis as of June 30, 2019, December 31, 2018: June 30, 2019 Fair Value Measurements Using Total Fair Value Level 1 Level 2 Level 3 Measurements (In thousands) Assets Securities available-for-sale U.S. Treasury securities $ 49,791 $ — $ — $ 49,791 U.S. government agency entities — 77,252 — 77,252 U.S. government sponsored entities — 398,340 — 398,340 Mortgage-backed securities — 846,105 — 846,105 Collateralized mortgage obligations — 777 — 777 Corporate debt securities — 99,319 — 99,319 Total securities available-for-sale $ 49,791 $ 1,421,793 $ — $ 1,471,584 Equity securities Mutual funds $ 6,259 $ — $ — $ 6,259 Preferred stock of government sponsored entities 14,183 — — 14,183 Other equity securities 12,056 — — 12,056 Total equity securities $ 32,498 $ — $ — $ 32,498 Warrants $ — $ — $ 44 $ 44 Interest rate swaps — 1,440 — 1,440 Foreign exchange contracts — 638 — 638 Total assets $ 82,289 $ 1,423,871 $ 44 $ 1,506,204 Liabilities Option contracts $ — $ 14 $ — $ 14 Interest rate swaps — 13,779 — 13,779 Foreign exchange contracts — 876 — 876 Total liabilities $ — $ 14,669 $ — $ 14,669 December 31, 2018 Fair Value Measurements Using Total Fair Value Level 1 Level 2 Level 3 Measurements (In thousands) Assets Securities available-for-sale U.S. Treasury securities $ 124,751 $ — $ — $ 124,751 U.S. government agency entities — 5,871 — 5,871 U.S. government sponsored entities — 388,363 — 388,363 Mortgage-backed securities — 656,744 — 656,744 Collateralized mortgage obligations — 977 — 977 Corporate debt securities — 65,803 — 65,803 Total securities available-for-sale $ 124,751 $ 1,117,758 $ — $ 1,242,509 Equity securities Mutual funds $ 6,094 $ — $ — $ 6,094 Preferred stock of government sponsored entities 7,822 — — 7,822 Other equity securities 11,182 — — 11,182 Total equity securities $ 25,098 $ — $ — $ 25,098 Warrants $ — $ — $ 184 $ 184 Interest rate swaps — 7,810 — 7,810 Foreign exchange contracts — 397 — 397 Total assets $ 149,849 $ 1,125,965 $ 184 $ 1,275,998 Liabilities Option contracts $ — $ 6 $ — $ 6 Interest rate swaps — 1,543 — 1,543 Foreign exchange contracts — 1,763 — 1,763 Total liabilities $ — $ 3,312 $ — $ 3,312 The Company measured the fair value of its warrants on a recurring basis using significant unobservable inputs. The fair value adjustment of warrants was included in other operating income in the second 2019. For financial assets measured at fair value on a nonrecurring basis that were still reflected in the Condensed Consolidated Balance Sheets as of June 30, 2019, June 30, 2019, December 31, 2018, As of June 30, 2019 Total Losses/(Gains) Fair Value Measurements Using Total Fair Value For the Three Months Ended For the Six Months Ended Level 1 Level 2 Level 3 Measurements June 30, 2019 June 30, 2018 June 30, 2019 June 30, 2018 (In thousands) Assets Impaired loans by type: Commercial loans $ — $ — $ 11,731 $ 11,731 $ — $ — $ — $ — Commercial mortgage loans — — 25,085 25,085 — — — — Residential mortgage loans and equity lines — — 5,750 5,750 — — — — Total impaired loans — — 42,566 42,566 — — — — Other real estate owned (1) — 7,625 4,343 11,968 422 (33 ) 494 — Investments in venture capital and private company stock — — 1,746 1,746 16 91 18 264 Total assets $ — $ 7,625 $ 48,655 $ 56,280 $ 438 $ 58 $ 512 $ 264 ( 1 As of December 31, 2018 Total Losses/(Gains) Fair Value Measurements Using Total Fair Value For the Twelve Months Ended Level 1 Level 2 Level 3 Measurements December 31, 2018 December 31, 2017 (In thousands) Assets Impaired loans by type: Commercial loans $ — $ — $ 4,733 $ 4,733 $ — $ 25 Commercial mortgage loans — — 26,186 26,186 — — Residential mortgage loans and equity lines — — 6,850 6,850 — — Total impaired loans — — 37,769 37,769 — 25 Other real estate owned (1) — 9,023 4,343 13,366 (619 ) 457 Investments in venture capital and private company stock — — 2,162 2,162 330 392 Total assets $ — $ 9,023 $ 44,274 $ 53,297 $ (289 ) $ 874 ( 1 The significant unobservable (Level 3 twelve The significant unobservable inputs used in the fair value measurement of other real estate owned (“OREO”) was primarily based on the appraised value of OREO adjusted by estimated sales cost and commissions. The Company applies estimated sales cost and commissions ranging from 3% to 6% of the collateral value of impaired loans, quoted price, or loan sale price of loans held for sale, and appraised value of OREO. |
Note 14 - Fair Value of Financi
Note 14 - Fair Value of Financial Instruments | 6 Months Ended |
Jun. 30, 2019 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | 1 4 . Fair Value of Financial Instruments The Company uses the following methods and assumptions to estimate the fair value of each class of financial instruments. Cash and Cash Equivalents - 1 Short-term Investments and interest - bearing deposits - 1 Securities Available for Sale 1 2 Equity Securities – 1 Loans - third The fair value of performing loans was calculated by discounting scheduled cash flows through the estimated maturity using estimated market discount rates that reflect the credit and interest rate risk inherent in the loan, a Level 3 The fair value of impaired loans was calculated based on the net realizable fair value of the collateral or the observable market price of the most recent sale or quoted price from loans held for sale. The Company does not 2 3 FHLB Stock - Deposit Liabilities - 3 Advanc es from - 2 Other Borrowings - 3 Long-term D ebt - 2 Currency Option and Foreign Exchange Contracts 2 Interest Rate Swaps third 2 Off-Balance-Sheet Financi al Instruments - 3 Fair value was estimated in accordance with ASC Topic 825. not one no The following table sets forth the carrying and notional amounts and estimated fair value of financial instruments as of June 30, 2019, December 31, 2018: June 30, 2019 December 31, 2018 Carrying Carrying Amount Fair Value Amount Fair Value (In thousands) Financial Assets Cash and due from banks $ 206,123 $ 206,123 $ 225,333 $ 225,333 Short-term investments 351,603 351,603 374,957 374,957 Securities available-for-sale 1,471,584 1,471,584 1,242,509 1,242,509 Loans, net 14,469,444 14,814,173 13,871,832 13,928,162 Equity securities 32,498 32,498 25,098 25,098 Investment in Federal Home Loan Bank stock 17,250 17,250 17,250 17,250 Warrants 44 44 184 184 Notional Notional Amount Fair Value Amount Fair Value Foreign exchange contracts $ 109,659 $ 638 $ 86,875 $ 397 Interest rate swaps 123,574 1,440 467,410 7,810 Carrying Carrying Amount Fair Value Amount Fair Value Financial Liabilities Deposits $ 14,362,922 $ 14,417,628 $ 13,702,340 $ 13,754,028 Advances from Federal Home Loan Bank 550,000 551,591 530,000 529,500 Other borrowings 49,663 43,084 35,756 34,031 Long-term debt 169,761 121,592 189,448 132,615 Notional Notional Amount Fair Value Amount Fair Value Option contracts $ 1,698 $ 14 $ 1,215 $ 6 Foreign exchange contracts 95,600 876 94,977 1,763 Interest rate swaps 584,226 13,779 265,166 1,543 Notional Notional Amount Fair Value Amount Fair Value Off-Balance Sheet Financial Instruments Commitments to extend credit $ 3,019,604 $ (8,916 ) $ 2,691,579 $ (8,843 ) Standby letters of credit 255,584 (2,630 ) 245,087 (2,662 ) Other letters of credit 24,086 (21 ) 35,759 (30 ) Bill of lading guarantees 188 — 730 — The following tables set forth the level in the fair value hierarchy for the estimated fair values of financial instruments as of June 30, 2019, December 31, 2018. As of June 30, 2019 Estimated Fair Value Measurements Level 1 Level 2 Level 3 (In thousands) Financial Assets Cash and due from banks $ 206,123 $ 206,123 $ — $ — Short-term investments 351,603 351,603 — — Securities available-for-sale 1,471,584 49,791 1,421,793 — Loans, net 14,814,173 — — 14,814,173 Equity securities 32,498 32,498 — — Investment in Federal Home Loan Bank stock 17,250 — 17,250 — Warrants 44 — — 44 Financial Liabilities Deposits 14,417,628 — — 14,417,628 Advances from Federal Home Loan Bank 551,591 — 551,591 — Other borrowings 43,084 — — 43,084 Long-term debt 121,592 — 121,592 — As of December 31, 2018 Estimated Fair Value Measurements Level 1 Level 2 Level 3 (In thousands) Financial Assets Cash and due from banks $ 225,333 $ 225,333 $ — $ — Short-term investments 374,957 374,957 — — Securities available-for-sale 1,242,509 124,751 1,117,758 — Loans, net 13,928,162 — — 13,928,162 Equity securities 25,098 25,098 — — Investment in Federal Home Loan Bank stock 17,250 — 17,250 — Warrants 184 — — 184 Financial Liabilities Deposits 13,754,028 — — 13,754,028 Advances from Federal Home Loan Bank 529,500 — 529,500 — Other borrowings 34,031 — — 34,031 Long-term debt 132,615 — 132,615 — |
Note 15 - Goodwill and Goodwill
Note 15 - Goodwill and Goodwill Impairment | 6 Months Ended |
Jun. 30, 2019 | |
Notes to Financial Statements | |
Goodwill and Intangible Assets Disclosure [Text Block] | 1 5 . Goodwill and Goodwill Impairment The Company’s policy is to assess goodwill for impairment at the reporting unit level on an annual basis or between annual assessments if a triggering event occurs or circumstances change that would more likely than not As of June 30, 2019, no |
Note 16 - Financial Derivatives
Note 16 - Financial Derivatives | 6 Months Ended |
Jun. 30, 2019 | |
Notes to Financial Statements | |
Derivative Instruments and Hedging Activities Disclosure [Text Block] | 1 6 . Financial Derivatives It is our policy not may may may The Company follows ASC Topic 815 not third not The Company offers various interest rate derivative contracts to its customers. When derivative transactions are executed with its customers, the derivative contracts are offset by paired trades with third not not third In May 2014, five ten June 2014 June 2024, three three June 30, 2019 December 31, 2018, June 30, 2019 December 31, 2018, three June 30, 2019 2018, six June 30, 2019 2018, June 30, 2019, 2018, not As of June 30, 2019, one June 30, 2019, December 31, 2018, three June 30, 2019 2018, six June 30, 2019 2018, June 30, 2019, 2018, not Interest rate swap contracts involve the risk of dealing with institutional derivative counterparties and their ability to meet contractual terms. Institutional counterparties must have a strong credit profile and be approved by the Company’s Board of Directors. The Company’s credit exposure on interest rate swaps is limited to the net favorable value and interest payments of all swaps by each counterparty. Credit exposure may June 30, 2019 December 31, 2018. The Company enters into foreign exchange forward contracts with various counterparties to mitigate the risk of fluctuations in foreign currency exchange rates for foreign exchange certificates of deposit or foreign exchange contracts entered into with our clients. These contracts are not June 30, 2019, June 30, 2019, June 30, 2019. December 31, 2018, December 31, 2018, December 31, 2018. |
Note 17 - Balance Sheet Offsett
Note 17 - Balance Sheet Offsetting | 6 Months Ended |
Jun. 30, 2019 | |
Notes to Financial Statements | |
Supplemental Balance Sheet Disclosures [Text Block] | 1 7 . Balance Sheet Offsetting Certain financial instruments, including resell and repurchase agreements, securities lending arrangements and derivatives, may may not Financial instruments that are eligible for offset in the Condensed Consolidated Balance Sheets, as of June 30, 2019, December 31, 2018, Gross Amounts Not Offset in the Balance Sheet Gross Amounts Recognized Gross Amounts Offset in the Balance Sheet Net Amounts Presented in the Balance Sheet Financial Instruments Collateral Posted Net Amount (In thousands) June 30, 2019 Assets: Derivatives $ 1,440 $ — $ 1,440 $ — $ — $ 1,440 Liabilities: Derivatives $ 13,779 $ — $ 13,779 $ — $ (16,065 ) $ (2,286 ) December 31, 2018 Assets: Derivatives $ 7,810 $ — $ 7,810 $ — $ — $ 7,810 Liabilities: Derivatives $ 1,543 $ — $ 1,543 $ — $ (1,543 ) $ — |
Note 18 - Revenue From Contract
Note 18 - Revenue From Contracts With Customers | 6 Months Ended |
Jun. 30, 2019 | |
Notes to Financial Statements | |
Revenue from Contract with Customer [Text Block] | 1 8 . Revenue from Contracts with Customers On January 1, 2018, 2014 09, 606 606, 606 not January 1, 2018. not no The following is a summary of revenue from contracts with customers that are in-scope and not 606: Three months Ended June 30, Six months Ended June 30, 2019 2018 2019 2018 (In thousands) Non-interest income, in-scope: Fees and service charges on deposit accounts 2,020 $ 2,076 $ 4,047 $ 4,394 $ Wealth management fees 2,513 1,423 4,209 2,724 Other service fees (1) 3,559 3,516 6,948 6,764 Total noninterest income 8,092 7,015 15,204 13,882 Noninterest income, not in-scope (2) 4,702 752 10,511 805 Total noninterest income 12,794 $ 7,767 $ 25,715 $ 13,077 $ ( 1 ( 2 606. The major revenue streams by fee type that are within the scope of ASC 606 Fees and Services Charges on Deposit Accounts Fees and service charges on deposit accounts include charges for analysis, overdraft, cash checking, ATM, and safe deposit activities executed by our deposit clients, as well as interchange income earned through card payment networks for the acceptance of card based transactions. Fees earned from our deposit clients are governed by contracts that provide for overall custody and access to deposited funds and other related services, and can be terminated at will by either party. Fees received from deposit clients for the various deposit activities are recognized as revenue by the Company once the performance obligations are met. The adoption of ASU 2014 09 no Wealth Management Fees The Company employs financial consultants to provide investment planning services for customers including wealth management services, asset allocation strategies, portfolio analysis and monitoring, investment strategies, and risk management strategies. The fees the Company earns are variable and are generally received monthly by the Company. The Company recognizes revenue for the services performed at quarter end based on actual transaction details received from the broker dealer the Company engages. Practical Expedients and Exemptions The Company applies the practical expedient in ASC 606 10 50 14 not one one In addition, given the short term nature of the contracts, the Company also applies the practical expedient in ASC 606 10 32 18 not one |
Note 19 - Stockholders' Equity
Note 19 - Stockholders' Equity | 6 Months Ended |
Jun. 30, 2019 | |
Notes to Financial Statements | |
Stockholders' Equity Note Disclosure [Text Block] | 1 9 . Stockholders’ Equity Total equity was $2.20 billion as of June 30, 2019, December 31, 2018, Activity in accumulated other comprehensive income, net of tax, and reclassification out of accumulated other comprehensive income for the three six June 30, 2019, June 30, 2018, Three months ended June 30, 2019 Three months ended June 30, 2018 Pre-tax Tax expense/ (benefit) Net-of-tax Pre-tax Tax expense/ (benefit) Net-of-tax (In thousands) Beginning balance, loss, net of tax Securities available-for-sale $ (8,966 ) $ (21,333 ) Cash flow hedge derivatives (1,465 ) 427 Total $ (10,431 ) $ (20,906 ) Net unrealized gains/(losses) arising during the period Securities available-for-sale $ 15,865 $ 4,690 $ 11,175 $ (3,905 ) $ (1,154 ) $ (2,751 ) Cash flow hedge derivatives (2,984 ) (882 ) (2,102 ) 1,045 309 736 Total $ 12,881 $ 3,808 $ 9,073 $ (2,860 ) $ (845 ) $ (2,015 ) Total other comprehensive income/(loss) Securities available-for-sale $ 15,865 $ 4,690 $ 11,175 $ (3,905 ) $ (1,154 ) $ (2,751 ) Cash flow hedge derivatives (2,984 ) (882 ) (2,102 ) 1,045 309 736 Total $ 12,881 $ 3,808 $ 9,073 $ (2,860 ) $ (845 ) $ (2,015 ) Ending balance, (loss)/gain, net of tax Securities available-for-sale $ 2,209 $ (24,084 ) Cash flow hedge derivatives (3,567 ) 1,163 Total $ (1,358 ) $ (22,921 ) Six months ended June 30, 2019 Six months ended June 30, 2018 Pre-tax Tax expense/ (benefit) Net-of-tax Pre-tax Tax expense/ (benefit) Net-of-tax (In thousands) Beginning balance, loss, net of tax Securities available-for-sale $ (17,765 ) $ (1,060 ) Cash flow hedge derivatives (241 ) (1,451 ) Total $ (18,006 ) $ (2,511 ) Reclassification adjustment for stranded tax effects of Tax Cuts and Jobs Act (1) Securities available-for-sale $ — $ — $ — $ — $ 200 $ (200 ) Cash flow hedge derivatives — — — — 315 (315 ) Total $ — $ — $ — $ — $ 515 $ (515 ) Reclassification adjustment for equity securities (2) Equity securities $ — $ — $ — $ (12,151 ) $ (3,592 ) $ (8,559 ) Net unrealized gains/(losses) arising during the period Securities available-for-sale $ 28,356 $ 8,382 $ 19,974 $ (20,251 ) $ (5,986 ) $ (14,265 ) Cash flow hedge derivatives (4,722 ) (1,396 ) (3,326 ) 4,158 1,229 2,929 Total $ 23,634 $ 6,986 $ 16,648 $ (16,093 ) $ (4,757 ) $ (11,336 ) Total other comprehensive income/(loss) Securities available-for-sale $ 28,356 $ 8,382 $ 19,974 $ (20,251 ) $ (5,986 ) $ (14,265 ) Cash flow hedge derivatives (4,722 ) (1,396 ) (3,326 ) 4,158 1,229 2,929 Total $ 23,634 $ 6,986 $ 16,648 $ (16,093 ) $ (4,757 ) $ (11,336 ) Ending balance, (loss)/gain, net of tax Securities available-for-sale $ 2,209 $ (24,084 ) Cash flow hedge derivatives (3,567 ) 1,163 Total $ (1,358 ) $ (22,921 ) ( 1 January 1, 2018 2018 2. ( 2 January 1, 2018 2016 1. |
Note 20 - Stock Repurchase Prog
Note 20 - Stock Repurchase Program | 6 Months Ended |
Jun. 30, 2019 | |
Notes to Financial Statements | |
Treasury Stock [Text Block] | 20. On October 26, 2018, 2018, October 2018 October 2018 six June 30, 2019. October 2018 On May 7, 2019, May 2019 June 30, 2019. June 30, 2019, may May 2019 |
Note 21 - Subsequent Events
Note 21 - Subsequent Events | 6 Months Ended |
Jun. 30, 2019 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | 21. The Company has evaluated the effect of events that have occurred subsequent to June 30, 2019, no |
Note 5 - Earnings Per Share (Ta
Note 5 - Earnings Per Share (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Three months ended June 30, Six months ended June 30, 2019 2018 2019 2018 (In thousands, except share and per share data) Net income $ 72,244 $ 73,664 $ 138,923 $ 137,480 Weighted-average shares: Basic weighted-average number of common shares outstanding 80,106,329 81,236,315 80,279,859 81,180,160 Dilutive effect of weighted-average outstanding common share equivalents Warrants — 278,080 — 286,718 RSUs 196,350 260,591 221,941 261,099 Diluted weighted-average number of common shares outstanding 80,302,679 81,774,986 80,501,800 81,727,977 Average stock options and restricted stock units with anti-dilutive effect 66,339 6,521 55,502 22,624 Earnings per common share: Basic $ 0.90 $ 0.91 $ 1.73 $ 1.69 Diluted $ 0.90 $ 0.90 $ 1.73 $ 1.68 |
Note 6 - Stock-based Compensa_2
Note 6 - Stock-based Compensation (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Notes Tables | |
Share-based Payment Arrangement, Restricted Stock Unit, Activity [Table Text Block] | Time-Based RSUs Performance-Based RSUs Weighted-Average Weighted-Average Grant Date Grant Date Shares Fair Value Shares Fair Value Balance at December 31, 2018 284,493 $ 35.79 265,659 $ 32.90 Granted 18,818 38.36 35,092 38.36 Vested (92,868 ) 35.12 (92,501 ) 38.36 Forfeited (16,672 ) 38.31 — — Balance at June 30, 2019 193,771 $ 36.14 208,250 $ 31.39 |
Note 7 - Investment Securities
Note 7 - Investment Securities (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Notes Tables | |
Schedule of Available-for-sale Securities Reconciliation [Table Text Block] | June 30, 2019 Gross Gross Amortized Unrealized Unrealized Cost Gains Losses Fair Value (In thousands) Securities Available-for-Sale U.S. treasury securities $ 49,750 $ 41 $ — $ 49,791 U.S. government agency entities 76,695 715 158 77,252 U.S. government sponsored entities 400,000 — 1,660 398,340 Mortgage-backed securities 842,315 6,336 2,546 846,105 Collateralized mortgage obligations 795 — 18 777 Corporate debt securities 98,897 465 43 99,319 Total $ 1,468,452 $ 7,557 $ 4,425 $ 1,471,584 December 31, 2018 Gross Gross Amortized Unrealized Unrealized Cost Gains Losses Fair Value (In thousands) Securities Available-for-Sale U.S. treasury securities $ 124,801 $ — $ 50 $ 124,751 U.S. government agency entities 6,066 — 195 5,871 U.S. government sponsored entities 400,000 — 11,638 388,362 Mortgage-backed securities 670,874 960 15,089 656,745 Collateralized mortgage obligations 1,005 — 28 977 Corporate debt securities 64,985 818 — 65,803 Total $ 1,267,731 $ 1,778 $ 27,000 $ 1,242,509 |
Investments Classified by Contractual Maturity Date [Table Text Block] | Securities Available-For-Sale Amortized Cost Fair Value (In thousands) Due in one year or less $ 69,741 $ 69,890 Due after one year through five years 479,550 478,222 Due after five years through ten years 23,551 23,637 Due after ten years 895,610 899,835 Total $ 1,468,452 $ 1,471,584 |
Schedule of Unrealized Loss on Investments [Table Text Block] | June 30, 2019 Less than 12 Months 12 Months or Longer Total Gross Gross Gross Fair Unrealized Fair Unrealized Fair Unrealized Value Losses Value Losses Value Losses (In thousands) Securities Available-for-Sale U.S. government agency entities $ 23,606 $ 7 $ 4,334 $ 151 $ 27,940 $ 158 U.S. government sponsored entities — — 398,340 1,660 398,340 1,660 Mortgage-backed securities 2,874 7 360,270 2,539 363,144 2,546 Collateralized mortgage obligations — — 777 18 777 18 Corporate debt securities 33,863 43 — — 33,863 43 Total $ 60,343 $ 57 $ 763,721 $ 4,368 $ 824,064 $ 4,425 December 31, 2018 Less than 12 Months 12 Months or Longer Total Gross Gross Gross Fair Unrealized Fair Unrealized Fair Unrealized Value Losses Value Losses Value Losses (In thousands) Securities Available-for-Sale U.S. treasury securities $ 124,751 $ 50 $ — $ — $ 124,751 $ 50 U.S. government agency entities 3,388 77 2,483 118 5,871 195 U.S. government sponsored entities — — 388,362 11,638 388,362 11,638 Mortgage-backed securities 48,528 502 507,701 14,587 556,229 15,089 Collateralized mortgage obligations — — 977 28 977 28 Total $ 176,667 $ 629 $ 899,523 $ 26,371 $ 1,076,190 $ 27,000 |
Note 8 - Loans (Tables)
Note 8 - Loans (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Notes Tables | |
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | June 30, 2019 December 31, 2018 (In thousands) Commercial loans $ 2,772,982 $ 2,741,965 Residential mortgage loans 3,967,135 3,693,853 Commercial mortgage loans 6,945,562 6,724,200 Equity lines 302,351 249,967 Real estate construction loans 598,849 581,454 Installment and other loans 6,631 4,349 Gross loans $ 14,593,510 $ 13,995,788 Allowance for loan losses (122,651 ) (122,391 ) Unamortized deferred loan fees, net (1,415 ) (1,565 ) Total loans, net $ 14,469,444 $ 13,871,832 |
Impaired Financing Receivables [Table Text Block] | Three Months Ended June 30, Six Months Ended June 30, 2019 2018 2019 2018 Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized (In thousands) Commercial loans $ 46,792 $ 587 $ 46,763 $ 498 $ 42,388 $ 820 $ 45,978 $ 825 Real estate construction loans 4,726 — 8,378 — 4,771 — 8,258 — Commercial mortgage loans 54,404 448 64,004 633 56,724 942 61,316 1,264 Residential mortgage loans and equity lines 12,983 81 14,664 93 13,123 165 14,189 186 Total impaired loans $ 118,905 $ 1,116 $ 133,809 $ 1,224 $ 117,006 $ 1,927 $ 129,741 $ 2,275 June 30, 2019 Real Estate Commercial Residential Installment Commercial Construction Mortgage Mortgage Loans and Loans Loans Loans and Equity Lines Other Loans Total (In thousands) Loans individually evaluated for impairment Allowance $ 832 $ — $ 620 $ 234 $ — $ 1,686 Balance $ 52,823 $ 4,702 $ 49,140 $ 12,981 $ — $ 119,646 Loans collectively evaluated for impairment Allowance $ 53,461 $ 21,010 $ 32,534 $ 13,930 $ 30 $ 120,965 Balance $ 2,720,159 $ 594,147 $ 6,896,422 $ 4,256,505 $ 6,631 $ 14,473,864 Total allowance $ 54,293 $ 21,010 $ 33,154 $ 14,164 $ 30 $ 122,651 Total balance $ 2,772,982 $ 598,849 $ 6,945,562 $ 4,269,486 $ 6,631 $ 14,593,510 December 31, 2018 Real Estate Commercial Residential Installment Commercial Construction Mortgage Mortgage Loans and Loans Loans Loans and Equity Lines Other Loans Total (In thousands) Loans individually evaluated for impairment Allowance $ 1,837 $ — $ 877 $ 1,088 $ — $ 3,802 Balance $ 36,940 $ 4,873 $ 51,471 $ 13,602 $ — $ 106,886 Loans collectively evaluated for impairment Allowance $ 53,141 $ 19,626 $ 32,610 $ 13,194 $ 18 $ 118,589 Balance $ 2,705,025 $ 576,581 $ 6,672,729 $ 3,930,218 $ 4,349 $ 13,888,902 Total allowance $ 54,978 $ 19,626 $ 33,487 $ 14,282 $ 18 $ 122,391 Total balance $ 2,741,965 $ 581,454 $ 6,724,200 $ 3,943,820 $ 4,349 $ 13,995,788 |
Schedule Of Impaired Loans And Related Allowance And Charge Off [Table Text Block] | June 30, 2019 December 31, 2018 Unpaid Principal Balance Recorded Investment Allowance Unpaid Principal Balance Recorded Investment Allowance (In thousands) With no allocated allowance Commercial loans $ 45,022 $ 40,260 $ — $ 32,015 $ 30,368 $ — Real estate construction loans 5,776 4,702 — 5,776 4,873 — Commercial mortgage loans 33,410 23,436 — 34,129 24,409 — Residential mortgage loans and equity lines 7,043 6,997 — 5,685 5,665 — Subtotal $ 91,251 $ 75,395 $ — $ 77,605 $ 65,315 $ — With allocated allowance Commercial loans $ 12,577 $ 12,563 $ 832 $ 6,653 $ 6,570 $ 1,837 Commercial mortgage loans 25,761 25,704 620 27,099 27,063 877 Residential mortgage loans and equity lines 7,055 5,984 234 8,934 7,938 1,088 Subtotal $ 45,393 $ 44,251 $ 1,686 $ 42,686 $ 41,571 $ 3,802 Total impaired loans $ 136,644 $ 119,646 $ 1,686 $ 120,291 $ 106,886 $ 3,802 |
Financing Receivable, Past Due [Table Text Block] | June 30, 2019 30-59 Days Past Due 60-89 Days Past Due 90 Days or More Past Due Non-accrual Loans Total Past Due Loans Not Past Due Total (In thousands) Commercial loans $ 4,998 $ 970 $ — $ 28,070 $ 34,038 $ 2,738,944 $ 2,772,982 Real estate construction loans 2,827 — — 4,702 7,529 591,320 598,849 Commercial mortgage loans 4,930 4,264 14,469 14,515 38,178 6,907,384 6,945,562 Residential mortgage loans and equity lines — 511 — 7,461 7,972 4,261,514 4,269,486 Installment and other loans — — — — — 6,631 6,631 Total loans $ 12,755 $ 5,745 $ 14,469 $ 54,748 $ 87,717 $ 14,505,793 $ 14,593,510 December 31, 2018 30-59 Days Past Due 60-89 Days Past Due 90 Days or More Past Due Non-accrual Loans Total Past Due Loans Not Past Due Total (In thousands) Commercial loans $ 25,494 $ 2,454 $ 514 $ 18,805 $ 47,267 $ 2,694,698 $ 2,741,965 Real estate construction loans — 3,156 — 4,872 8,028 573,426 581,454 Commercial mortgage loans 10,797 8,545 3,259 10,611 33,212 6,690,988 6,724,200 Residential mortgage loans and equity lines 9,687 336 — 7,527 17,550 3,926,270 3,943,820 Installment and other loans — — — — — 4,349 4,349 Total loans $ 45,978 $ 14,491 $ 3,773 $ 41,815 $ 106,057 $ 13,889,731 $ 13,995,788 |
Schedule Of Troubled Debt Restructurings [Table Text Block] | Three Months Ended June 30, 2019 June 30, 2019 No. of Contracts Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment Charge-offs Specific Reserve (In thousands) Commercial loans 19 $ 16,405 $ 15,551 $ 811 $ 37 Total 19 $ 16,405 $ 15,551 $ 811 $ 37 Three Months Ended June 30, 2018 June 30, 2018 No. of Contracts Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment Charge-offs Specific Reserve (In thousands) Commercial loans 15 $ 5,127 $ 5,127 $ — $ — Total 15 $ 5,127 $ 5,127 $ — $ — Six Months Ended June 30, 2019 June 30, 2019 No. of Contracts Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment Charge-offs Specific Reserve (In thousands) Commercial loans 20 $ 18,352 $ 16,381 $ 811 $ 37 Total 20 $ 18,352 $ 16,381 $ 811 $ 37 Six Months Ended June 30, 2018 June 30, 2018 No. of Contracts Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment Charge-offs Specific Reserve (In thousands) Commercial loans 18 $ 7,590 $ 7,590 $ — $ — Commercial mortgage loans 6 14,287 14,287 — 126 Residential mortgage loans and equity lines 2 801 801 — 8 Total 26 $ 22,678 $ 22,678 $ — $ 134 |
Financing Receivable, Troubled Debt Restructuring [Table Text Block] | June 30, 2019 Payment Deferral Rate Reduction Rate Reduction and Payment Deferral Total (In thousands) Accruing TDRs Commercial loans $ 24,753 $ — $ — $ 24,753 Commercial mortgage loans 9,761 5,775 19,090 34,626 Residential mortgage loans 3,010 321 2,188 5,519 Total accruing TDRs $ 37,524 $ 6,096 $ 21,278 $ 64,898 June 30, 2019 Payment Deferral Rate Reduction Rate Reduction and Payment Deferral Total (In thousands) Non-accrual TDRs Commercial loans $ 16,278 $ — $ — $ 16,278 Commercial mortgage loans — — 4,417 4,417 Residential mortgage loans 1,658 — 104 1,762 Total non-accrual TDRs $ 17,936 $ — $ 4,521 $ 22,457 December 31, 2018 Payment Deferral Rate Reduction Rate Reduction and Payment Deferral Total (In thousands) Accruing TDRs Commercial loans $ 18,135 $ — $ — $ 18,135 Commercial mortgage loans 14,022 7,420 19,418 40,860 Residential mortgage loans 3,353 327 2,396 6,076 Total accruing TDRs $ 35,510 $ 7,747 $ 21,814 $ 65,071 |
Non Accrual Troubled Debt Restructurings [Table Text Block] | December 31, 2018 Payment Deferral Rate Reduction Rate Reductio and Payment Deferral Total (In thousands) Non-accrual TDRs Commercial loans $ 13,771 $ — $ — $ 13,771 Commercial mortgage loans 3,682 — 4,884 8,566 Residential mortgage loans 1,741 — 111 1,852 Total non-accrual TDRs $ 19,194 $ — $ 4,995 $ 24,189 |
Activity Within The Troubled Debt Resturings [Table Text Block] | Three Months Ended June 30, Six Months Ended June 30, 2019 2018 2019 2018 (In thousands) Accruing TDRs Beginning balance $ 62,948 $ 82,785 $ 65,071 $ 68,566 New restructurings 13,244 5,127 15,192 22,447 Restructured loans restored to accrual status — — — 2,318 Payments (9,998 ) (2,855 ) (14,069 ) (6,746 ) Restructured loans placed on non-accrual status (1,296 ) (570 ) (1,296 ) (2,098 ) Ending balance $ 64,898 $ 84,487 $ 64,898 $ 84,487 Three Months Ended June 30, Six Months Ended June 30, 2019 2018 2019 2018 (In thousands) Non-accrual TDRs Beginning balance $ 23,301 $ 31,195 $ 24,189 $ 33,415 New restructurings 3,160 — 3,160 231 Restructured loans placed on non-accrual status 1,296 570 1,296 2,098 Charge-offs (811 ) (161 ) (1,218 ) (161 ) Payments (4,489 ) (1,257 ) (4,970 ) (2,918 ) Restructured loans restored to accrual status — — — (2,318 ) Ending balance $ 22,457 $ 30,347 $ 22,457 $ 30,347 |
Financing Receivable Credit Quality Indicators [Table Text Block] | June 30, 2019 Pass/Watch Special Mention Substandard Doubtful Total (In thousands) Commercial loans $ 2,568,884 $ 111,658 $ 92,440 $ — $ 2,772,982 Real estate construction loans 538,843 55,303 4,703 — 598,849 Commercial mortgage loans 6,632,331 222,932 90,299 — 6,945,562 Residential mortgage loans and equity lines 4,260,303 939 8,244 — 4,269,486 Installment and other loans 6,631 — — — 6,631 Total gross loans $ 14,006,992 $ 390,832 $ 195,686 $ — $ 14,593,510 December 31, 2018 Pass/Watch Special Mention Substandard Doubtful Total (In thousands) Commercial loans $ 2,603,901 $ 87,987 $ 50,077 $ — $ 2,741,965 Real estate construction loans 514,406 62,175 4,873 — 581,454 Commercial mortgage loans 6,337,368 304,791 82,041 — 6,724,200 Residential mortgage loans and equity lines 3,934,762 — 9,058 — 3,943,820 Installment and other loans 4,349 — — — 4,349 Total gross loans $ 13,394,786 $ 454,953 $ 146,049 $ — $ 13,995,788 |
Financing Receivable, Allowance for Credit Loss [Table Text Block] | Three months ended June 30, 2019 and 2018 Residential Real Estate Commercial Mortgage Loans Installment Commercial Construction Mortgage and and Other Loans Loans Loans Equity Lines Loans Total (In thousands) March 31, 2019 Ending Balance $ 54,750 $ 20,723 $ 33,073 $ 13,975 $ 34 $ 122,555 Provision/(reversal) for possible credit losses (100 ) 257 (180 ) 27 (4 ) — Charge-offs (1,713 ) — — — — (1,713 ) Recoveries 1,356 30 261 162 — 1,809 Net (charge-offs)/recoveries (357 ) 30 261 162 — 96 June 30, 2019 Ending Balance $ 54,293 $ 21,010 $ 33,154 $ 14,164 $ 30 $ 122,651 Residential Real Estate Commercial Mortgage Loans Installment Commercial Construction Mortgage and and Other Loans Loans Loans Equity Lines Loans Total (In thousands) March 31, 2018 Ending Balance $ 54,597 $ 21,864 $ 34,230 $ 11,372 $ 21 $ 122,084 Provision/(reversal) for possible credit losses 920 (1,245 ) (533 ) 860 (2 ) — Charge-offs (488 ) — (161 ) (229 ) — (878 ) Recoveries 150 44 440 59 — 693 Net (charge-offs)/recoveries (338 ) 44 279 (170 ) — (185 ) June 30, 2018 Ending Balance $ 55,179 $ 20,663 $ 33,976 $ 12,062 $ 19 $ 121,899 Six months ended June 30, 2019 and 2018 Residential Real Estate Commercial Mortgage Loans Installment Commercial Construction Mortgage and and Other Loans Loans Loans Equity Lines Loans Total (In thousands) 2019 Beginning Balance $ 54,978 $ 19,626 $ 33,487 $ 14,282 $ 18 $ 122,391 Provision/(reversal) for possible credit losses 862 310 (746 ) (438 ) 12 — Charge-offs (2,944 ) — — — — (2,944 ) Recoveries 1,397 1,074 413 320 — 3,204 Net (charge-offs)/recoveries (1,547 ) 1,074 413 320 — 260 June 30, 2019 Ending Balance $ 54,293 $ 21,010 $ 33,154 $ 14,164 $ 30 $ 122,651 Reserve for impaired loans $ 832 $ — $ 620 $ 234 $ — $ 1,686 Reserve for non-impaired loans $ 53,461 $ 21,010 $ 32,534 $ 13,930 $ 30 $ 120,965 Reserve for off-balance sheet credit commitments $ 2,090 $ 2,029 $ 137 $ 290 $ 4 $ 4,550 Residential Real Estate Commercial Mortgage Loans Installment Commercial Construction Mortgage and and Other Loans Loans Loans Equity Lines Loans Total (In thousands) 2018 Beginning Balance $ 49,796 $ 24,838 $ 37,610 $ 11,013 $ 22 $ 123,279 Provision/(reversal) for possible credit losses 4,827 (4,263 ) (4,696 ) 1,135 (3 ) (3,000 ) Charge-offs (507 ) — (161 ) (229 ) — (897 ) Recoveries 1,063 88 1,223 143 — 2,517 Net recoveries/(charge-offs) 556 88 1,062 (86 ) — 1,620 June 30, 2018 Ending Balance $ 55,179 $ 20,663 $ 33,976 $ 12,062 $ 19 $ 121,899 Reserve for impaired loans $ 2,463 $ — $ 1,036 $ 334 $ — $ 3,833 Reserve for non-impaired loans $ 52,716 $ 20,663 $ 32,940 $ 11,728 $ 19 $ 118,066 Reserve for off-balance sheet credit commitments $ 1,606 $ 1,207 $ 77 $ 190 $ 8 $ 3,088 |
Note 10 - Leases (Tables)
Note 10 - Leases (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Notes Tables | |
Lessee, Operating Lease, Liability, Maturity [Table Text Block] | As of June 30, 2019 Operating Leases (In thousands) Remaining 2019 $ 4,208 2020 8,511 2021 7,603 2022 6,417 2023 5,416 Thereafter 9,521 Total lease payments 41,676 Less amount of payment representing interest (3,818 ) Total present value of lease payments $ 37,858 |
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block] | As of December 31, 2018 Operating Leases (In thousands) 2019 $ 8,835 2020 7,220 2021 6,406 2022 5,406 2023 4,208 Thereafter 4,899 Total minimum lease payments $ 36,974 |
Note 13 - Fair Value Measurem_2
Note 13 - Fair Value Measurements (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Notes Tables | |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | June 30, 2019 Fair Value Measurements Using Total Fair Value Level 1 Level 2 Level 3 Measurements (In thousands) Assets Securities available-for-sale U.S. Treasury securities $ 49,791 $ — $ — $ 49,791 U.S. government agency entities — 77,252 — 77,252 U.S. government sponsored entities — 398,340 — 398,340 Mortgage-backed securities — 846,105 — 846,105 Collateralized mortgage obligations — 777 — 777 Corporate debt securities — 99,319 — 99,319 Total securities available-for-sale $ 49,791 $ 1,421,793 $ — $ 1,471,584 Equity securities Mutual funds $ 6,259 $ — $ — $ 6,259 Preferred stock of government sponsored entities 14,183 — — 14,183 Other equity securities 12,056 — — 12,056 Total equity securities $ 32,498 $ — $ — $ 32,498 Warrants $ — $ — $ 44 $ 44 Interest rate swaps — 1,440 — 1,440 Foreign exchange contracts — 638 — 638 Total assets $ 82,289 $ 1,423,871 $ 44 $ 1,506,204 Liabilities Option contracts $ — $ 14 $ — $ 14 Interest rate swaps — 13,779 — 13,779 Foreign exchange contracts — 876 — 876 Total liabilities $ — $ 14,669 $ — $ 14,669 December 31, 2018 Fair Value Measurements Using Total Fair Value Level 1 Level 2 Level 3 Measurements (In thousands) Assets Securities available-for-sale U.S. Treasury securities $ 124,751 $ — $ — $ 124,751 U.S. government agency entities — 5,871 — 5,871 U.S. government sponsored entities — 388,363 — 388,363 Mortgage-backed securities — 656,744 — 656,744 Collateralized mortgage obligations — 977 — 977 Corporate debt securities — 65,803 — 65,803 Total securities available-for-sale $ 124,751 $ 1,117,758 $ — $ 1,242,509 Equity securities Mutual funds $ 6,094 $ — $ — $ 6,094 Preferred stock of government sponsored entities 7,822 — — 7,822 Other equity securities 11,182 — — 11,182 Total equity securities $ 25,098 $ — $ — $ 25,098 Warrants $ — $ — $ 184 $ 184 Interest rate swaps — 7,810 — 7,810 Foreign exchange contracts — 397 — 397 Total assets $ 149,849 $ 1,125,965 $ 184 $ 1,275,998 Liabilities Option contracts $ — $ 6 $ — $ 6 Interest rate swaps — 1,543 — 1,543 Foreign exchange contracts — 1,763 — 1,763 Total liabilities $ — $ 3,312 $ — $ 3,312 |
Fair Value Measurements, Nonrecurring [Table Text Block] | As of June 30, 2019 Total Losses/(Gains) Fair Value Measurements Using Total Fair Value For the Three Months Ended For the Six Months Ended Level 1 Level 2 Level 3 Measurements June 30, 2019 June 30, 2018 June 30, 2019 June 30, 2018 (In thousands) Assets Impaired loans by type: Commercial loans $ — $ — $ 11,731 $ 11,731 $ — $ — $ — $ — Commercial mortgage loans — — 25,085 25,085 — — — — Residential mortgage loans and equity lines — — 5,750 5,750 — — — — Total impaired loans — — 42,566 42,566 — — — — Other real estate owned (1) — 7,625 4,343 11,968 422 (33 ) 494 — Investments in venture capital and private company stock — — 1,746 1,746 16 91 18 264 Total assets $ — $ 7,625 $ 48,655 $ 56,280 $ 438 $ 58 $ 512 $ 264 As of December 31, 2018 Total Losses/(Gains) Fair Value Measurements Using Total Fair Value For the Twelve Months Ended Level 1 Level 2 Level 3 Measurements December 31, 2018 December 31, 2017 (In thousands) Assets Impaired loans by type: Commercial loans $ — $ — $ 4,733 $ 4,733 $ — $ 25 Commercial mortgage loans — — 26,186 26,186 — — Residential mortgage loans and equity lines — — 6,850 6,850 — — Total impaired loans — — 37,769 37,769 — 25 Other real estate owned (1) — 9,023 4,343 13,366 (619 ) 457 Investments in venture capital and private company stock — — 2,162 2,162 330 392 Total assets $ — $ 9,023 $ 44,274 $ 53,297 $ (289 ) $ 874 |
Note 14 - Fair Value of Finan_2
Note 14 - Fair Value of Financial Instruments (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Notes Tables | |
Fair Value, by Balance Sheet Grouping [Table Text Block] | June 30, 2019 December 31, 2018 Carrying Carrying Amount Fair Value Amount Fair Value (In thousands) Financial Assets Cash and due from banks $ 206,123 $ 206,123 $ 225,333 $ 225,333 Short-term investments 351,603 351,603 374,957 374,957 Securities available-for-sale 1,471,584 1,471,584 1,242,509 1,242,509 Loans, net 14,469,444 14,814,173 13,871,832 13,928,162 Equity securities 32,498 32,498 25,098 25,098 Investment in Federal Home Loan Bank stock 17,250 17,250 17,250 17,250 Warrants 44 44 184 184 Notional Notional Amount Fair Value Amount Fair Value Foreign exchange contracts $ 109,659 $ 638 $ 86,875 $ 397 Interest rate swaps 123,574 1,440 467,410 7,810 Carrying Carrying Amount Fair Value Amount Fair Value Financial Liabilities Deposits $ 14,362,922 $ 14,417,628 $ 13,702,340 $ 13,754,028 Advances from Federal Home Loan Bank 550,000 551,591 530,000 529,500 Other borrowings 49,663 43,084 35,756 34,031 Long-term debt 169,761 121,592 189,448 132,615 Notional Notional Amount Fair Value Amount Fair Value Option contracts $ 1,698 $ 14 $ 1,215 $ 6 Foreign exchange contracts 95,600 876 94,977 1,763 Interest rate swaps 584,226 13,779 265,166 1,543 Notional Notional Amount Fair Value Amount Fair Value Off-Balance Sheet Financial Instruments Commitments to extend credit $ 3,019,604 $ (8,916 ) $ 2,691,579 $ (8,843 ) Standby letters of credit 255,584 (2,630 ) 245,087 (2,662 ) Other letters of credit 24,086 (21 ) 35,759 (30 ) Bill of lading guarantees 188 — 730 — |
Schedule Of Fair Value Of Financial Instruments [Table Text Block] | As of June 30, 2019 Estimated Fair Value Measurements Level 1 Level 2 Level 3 (In thousands) Financial Assets Cash and due from banks $ 206,123 $ 206,123 $ — $ — Short-term investments 351,603 351,603 — — Securities available-for-sale 1,471,584 49,791 1,421,793 — Loans, net 14,814,173 — — 14,814,173 Equity securities 32,498 32,498 — — Investment in Federal Home Loan Bank stock 17,250 — 17,250 — Warrants 44 — — 44 Financial Liabilities Deposits 14,417,628 — — 14,417,628 Advances from Federal Home Loan Bank 551,591 — 551,591 — Other borrowings 43,084 — — 43,084 Long-term debt 121,592 — 121,592 — As of December 31, 2018 Estimated Fair Value Measurements Level 1 Level 2 Level 3 (In thousands) Financial Assets Cash and due from banks $ 225,333 $ 225,333 $ — $ — Short-term investments 374,957 374,957 — — Securities available-for-sale 1,242,509 124,751 1,117,758 — Loans, net 13,928,162 — — 13,928,162 Equity securities 25,098 25,098 — — Investment in Federal Home Loan Bank stock 17,250 — 17,250 — Warrants 184 — — 184 Financial Liabilities Deposits 13,754,028 — — 13,754,028 Advances from Federal Home Loan Bank 529,500 — 529,500 — Other borrowings 34,031 — — 34,031 Long-term debt 132,615 — 132,615 — |
Note 17 - Balance Sheet Offse_2
Note 17 - Balance Sheet Offsetting (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Notes Tables | |
Schedule of Amounts Recognized in Balance Sheet [Table Text Block] | Gross Amounts Not Offset in the Balance Sheet Gross Amounts Recognized Gross Amounts Offset in the Balance Sheet Net Amounts Presented in the Balance Sheet Financial Instruments Collateral Posted Net Amount (In thousands) June 30, 2019 Assets: Derivatives $ 1,440 $ — $ 1,440 $ — $ — $ 1,440 Liabilities: Derivatives $ 13,779 $ — $ 13,779 $ — $ (16,065 ) $ (2,286 ) December 31, 2018 Assets: Derivatives $ 7,810 $ — $ 7,810 $ — $ — $ 7,810 Liabilities: Derivatives $ 1,543 $ — $ 1,543 $ — $ (1,543 ) $ — |
Note 18 - Revenue From Contra_2
Note 18 - Revenue From Contracts With Customers (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Notes Tables | |
Disaggregation of Revenue [Table Text Block] | Three months Ended June 30, Six months Ended June 30, 2019 2018 2019 2018 (In thousands) Non-interest income, in-scope: Fees and service charges on deposit accounts 2,020 $ 2,076 $ 4,047 $ 4,394 $ Wealth management fees 2,513 1,423 4,209 2,724 Other service fees (1) 3,559 3,516 6,948 6,764 Total noninterest income 8,092 7,015 15,204 13,882 Noninterest income, not in-scope (2) 4,702 752 10,511 805 Total noninterest income 12,794 $ 7,767 $ 25,715 $ 13,077 $ |
Note 19 - Stockholders' Equity
Note 19 - Stockholders' Equity (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Notes Tables | |
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | Three months ended June 30, 2019 Three months ended June 30, 2018 Pre-tax Tax expense/ (benefit) Net-of-tax Pre-tax Tax expense/ (benefit) Net-of-tax (In thousands) Beginning balance, loss, net of tax Securities available-for-sale $ (8,966 ) $ (21,333 ) Cash flow hedge derivatives (1,465 ) 427 Total $ (10,431 ) $ (20,906 ) Net unrealized gains/(losses) arising during the period Securities available-for-sale $ 15,865 $ 4,690 $ 11,175 $ (3,905 ) $ (1,154 ) $ (2,751 ) Cash flow hedge derivatives (2,984 ) (882 ) (2,102 ) 1,045 309 736 Total $ 12,881 $ 3,808 $ 9,073 $ (2,860 ) $ (845 ) $ (2,015 ) Total other comprehensive income/(loss) Securities available-for-sale $ 15,865 $ 4,690 $ 11,175 $ (3,905 ) $ (1,154 ) $ (2,751 ) Cash flow hedge derivatives (2,984 ) (882 ) (2,102 ) 1,045 309 736 Total $ 12,881 $ 3,808 $ 9,073 $ (2,860 ) $ (845 ) $ (2,015 ) Ending balance, (loss)/gain, net of tax Securities available-for-sale $ 2,209 $ (24,084 ) Cash flow hedge derivatives (3,567 ) 1,163 Total $ (1,358 ) $ (22,921 ) Six months ended June 30, 2019 Six months ended June 30, 2018 Pre-tax Tax expense/ (benefit) Net-of-tax Pre-tax Tax expense/ (benefit) Net-of-tax (In thousands) Beginning balance, loss, net of tax Securities available-for-sale $ (17,765 ) $ (1,060 ) Cash flow hedge derivatives (241 ) (1,451 ) Total $ (18,006 ) $ (2,511 ) Reclassification adjustment for stranded tax effects of Tax Cuts and Jobs Act (1) Securities available-for-sale $ — $ — $ — $ — $ 200 $ (200 ) Cash flow hedge derivatives — — — — 315 (315 ) Total $ — $ — $ — $ — $ 515 $ (515 ) Reclassification adjustment for equity securities (2) Equity securities $ — $ — $ — $ (12,151 ) $ (3,592 ) $ (8,559 ) Net unrealized gains/(losses) arising during the period Securities available-for-sale $ 28,356 $ 8,382 $ 19,974 $ (20,251 ) $ (5,986 ) $ (14,265 ) Cash flow hedge derivatives (4,722 ) (1,396 ) (3,326 ) 4,158 1,229 2,929 Total $ 23,634 $ 6,986 $ 16,648 $ (16,093 ) $ (4,757 ) $ (11,336 ) Total other comprehensive income/(loss) Securities available-for-sale $ 28,356 $ 8,382 $ 19,974 $ (20,251 ) $ (5,986 ) $ (14,265 ) Cash flow hedge derivatives (4,722 ) (1,396 ) (3,326 ) 4,158 1,229 2,929 Total $ 23,634 $ 6,986 $ 16,648 $ (16,093 ) $ (4,757 ) $ (11,336 ) Ending balance, (loss)/gain, net of tax Securities available-for-sale $ 2,209 $ (24,084 ) Cash flow hedge derivatives (3,567 ) 1,163 Total $ (1,358 ) $ (22,921 ) |
Note 1 - Business (Details Text
Note 1 - Business (Details Textual) | Jun. 30, 2019 |
Number Of Limited Partnerships In Housing Investments | 9 |
Percentage of Subsidiaries Common Securities Owned by Parent Company | 100.00% |
Southern California [Member] | |
Number Of Branch Locations | 25 |
Northern California [Member] | |
Number Of Branch Locations | 14 |
NEW YORK | |
Number Of Branch Locations | 10 |
WASHINGTON | |
Number Of Branch Locations | 4 |
ILLINOIS | |
Number Of Branch Locations | 3 |
TEXAS | |
Number Of Branch Locations | 2 |
NEW JERSEY | |
Number Of Branch Locations | 1 |
HONG KONG | |
Number Of Branch Locations | 1 |
NEVADA | |
Number Of Branch Locations | 1 |
MASSACHUSETTS | |
Number Of Branch Locations | 1 |
MARYLAND | |
Number Of Branch Locations | 1 |
Note 3 - Recent Accounting Pr_2
Note 3 - Recent Accounting Pronouncements (Details Textual) - USD ($) $ in Thousands | Jun. 30, 2019 | Jan. 01, 2019 | Dec. 31, 2018 |
Operating Lease, Liability, Total | $ 37,858 | $ 0 | |
Operating Lease, Right-of-Use Asset | $ 36,515 | $ 0 | |
Accounting Standards Update 2016-02 [Member] | |||
Operating Lease, Liability, Total | $ 41,200 | ||
Operating Lease, Right-of-Use Asset | $ 40,600 |
Note 4 - Cash, Cash Equivalen_2
Note 4 - Cash, Cash Equivalents and Restricted Cash (Details Textual) - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Dec. 31, 2018 | Jan. 01, 2018 | |
Average Reserve Balances Required to be Maintained with Federal Bank | $ 161 | $ 5,400 | ||
Margin Deposit Assets | 6,900 | 1,800 | ||
Restricted Cash, Total | 31,400 | $ 7,800 | ||
Payments for (Proceeds from) Short-term Investments, Total | 0 | $ (5,000) | ||
Net Cash Provided by (Used in) Investing Activities, Total | $ (814,030) | (674,653) | ||
Previously Reported [Member] | ||||
Payments for (Proceeds from) Short-term Investments, Total | 0 | |||
Net Cash Provided by (Used in) Investing Activities, Total | (679,700) | |||
Cash and Cash Equivalents, Period Increase (Decrease), Total | $ (135,700) | |||
Cash and Cash Equivalents, at Carrying Value, Ending Balance | $ 539,800 |
Note 5 - Earnings Per Share - E
Note 5 - Earnings Per Share - Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Net income | $ 72,244 | $ 73,664 | $ 138,923 | $ 137,480 |
Weighted-average shares: | ||||
Basic weighted-average number of common shares outstanding (in shares) | 80,106,329 | 81,236,315 | 80,279,859 | 81,180,160 |
Diluted (in shares) | 80,302,679 | 81,774,986 | 80,501,800 | 81,727,977 |
Average stock options and restricted stock units with anti-dilutive effect (in shares) | 66,339 | 6,521 | 55,502 | 22,624 |
Basic (in dollars per share) | $ 0.90 | $ 0.91 | $ 1.73 | $ 1.69 |
Diluted (in dollars per share) | $ 0.90 | $ 0.90 | $ 1.73 | $ 1.68 |
Warrant [Member] | ||||
Weighted-average shares: | ||||
Dilutive effect of weighted-average outstanding common share equivalents (in shares) | 0 | 278,080 | 0 | 286,718 |
Restricted Stock Units (RSUs) [Member] | ||||
Weighted-average shares: | ||||
Dilutive effect of weighted-average outstanding common share equivalents (in shares) | 196,350 | 260,591 | 221,941 | 261,099 |
Note 6 - Stock-based Compensa_3
Note 6 - Stock-based Compensation (Details Textual) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period | 35,880 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number, Ending Balance | 0 | 0 | ||
Proceeds from Stock Options Exercised | $ 0 | $ 838 | ||
Share-based Compensation Arrangements by Share-based Payment Award, Options, Exercises in Period, Weighted Average Exercise Price | $ 23.37 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value | $ 718 | |||
Benefit (Shortfall) of Tax Deductions from Share-based Compensation | $ 6,000 | 800 | ||
2005 Incentive Plan [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | 2,613,203 | 2,613,203 | ||
Minimum [Member] | ||||
Performance-based Restricted Stock Units, Number of Shares That May Vest, Percentage of Target | 0.00% | 0.00% | ||
Maximum [Member] | ||||
Performance-based Restricted Stock Units, Number of Shares That May Vest, Percentage of Target | 150.00% | 150.00% | ||
Restricted Stock Units (RSUs) [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 3 years | |||
Share-based Payment Arrangement, Expense | $ 1,500 | $ 1,900 | $ 3,100 | 3,400 |
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total | $ 6,800 | $ 13,300 | $ 6,800 | $ 13,300 |
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition | 1 year 4 months 24 days | |||
Performance-based Restricted Stock Units [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 3 years |
Note 6 - Stock-based Compensa_4
Note 6 - Stock-based Compensation - Restricted Stock Units (Details) | 6 Months Ended |
Jun. 30, 2019$ / sharesshares | |
Time-based Restricted Stock Units [Member] | |
Balance (in shares) | shares | 284,493 |
Balance (in dollars per share) | $ / shares | $ 35.79 |
Granted (in shares) | shares | 18,818 |
Granted (in dollars per share) | $ / shares | $ 38.36 |
Vested (in shares) | shares | (92,868) |
Vested (in dollars per share) | $ / shares | $ 35.12 |
Forfeited (in shares) | shares | (16,672) |
Forfeited (in dollars per share) | $ / shares | $ 38.31 |
Balance (in shares) | shares | 193,771 |
Balance (in dollars per share) | $ / shares | $ 36.14 |
Performance-based Restricted Stock Units [Member] | |
Balance (in shares) | shares | 265,659 |
Balance (in dollars per share) | $ / shares | $ 32.90 |
Granted (in shares) | shares | 35,092 |
Granted (in dollars per share) | $ / shares | $ 38.36 |
Vested (in shares) | shares | (92,501) |
Vested (in dollars per share) | $ / shares | $ 38.36 |
Forfeited (in shares) | shares | 0 |
Forfeited (in dollars per share) | $ / shares | $ 0 |
Balance (in shares) | shares | 208,250 |
Balance (in dollars per share) | $ / shares | $ 31.39 |
Note 7 - Investment Securitie_2
Note 7 - Investment Securities (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | Dec. 31, 2018 | Jan. 01, 2018 | |
Equity Securities, FV-NI, Unrealized Gain (Loss), Total | $ 3,200 | $ (1,200) | $ 7,400 | $ (4,971) | ||
Equity Securities, FV-NI | 32,498 | 32,498 | $ 25,098 | |||
Other than Temporary Impairment Losses, Investments, Available-for-sale Securities, Total | 0 | |||||
Pledged Investment Securities | $ 21,800 | $ 21,800 | $ 28,500 | |||
Accounting Standards Update 2016-01 [Member] | Retained Earnings [Member] | ||||||
Cumulative Effect of New Accounting Principle in Period of Adoption | $ 8,600 |
Note 7 - Investment Securitie_3
Note 7 - Investment Securities - Investment Securities (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
Investment securities available for sale, amortized cost | $ 1,468,452 | $ 1,267,731 |
Investment securities available for sale, gross unrealized gains | 7,557 | 1,778 |
Investment securities available for sale, gross unrealized losses | 4,425 | 27,000 |
Investment securities available for sale, Estimated fair value | 1,471,584 | 1,242,509 |
US Treasury Securities [Member] | ||
Investment securities available for sale, amortized cost | 49,750 | 124,801 |
Investment securities available for sale, gross unrealized gains | 41 | 0 |
Investment securities available for sale, gross unrealized losses | 0 | 50 |
Investment securities available for sale, Estimated fair value | 49,791 | 124,751 |
US Government Corporations and Agencies Securities [Member] | ||
Investment securities available for sale, amortized cost | 76,695 | 6,066 |
Investment securities available for sale, gross unrealized gains | 715 | 0 |
Investment securities available for sale, gross unrealized losses | 158 | 195 |
Investment securities available for sale, Estimated fair value | 77,252 | 5,871 |
US Government-sponsored Enterprises Debt Securities [Member] | ||
Investment securities available for sale, amortized cost | 400,000 | 400,000 |
Investment securities available for sale, gross unrealized gains | 0 | 0 |
Investment securities available for sale, gross unrealized losses | 1,660 | 11,638 |
Investment securities available for sale, Estimated fair value | 398,340 | 388,362 |
Collateralized Mortgage Backed Securities [Member] | ||
Investment securities available for sale, amortized cost | 842,315 | 670,874 |
Investment securities available for sale, gross unrealized gains | 6,336 | 960 |
Investment securities available for sale, gross unrealized losses | 2,546 | 15,089 |
Investment securities available for sale, Estimated fair value | 846,105 | 656,745 |
Collateralized Mortgage Obligations [Member] | ||
Investment securities available for sale, amortized cost | 795 | 1,005 |
Investment securities available for sale, gross unrealized gains | 0 | 0 |
Investment securities available for sale, gross unrealized losses | 18 | 28 |
Investment securities available for sale, Estimated fair value | 777 | 977 |
Corporate Debt Securities [Member] | ||
Investment securities available for sale, amortized cost | 98,897 | 64,985 |
Investment securities available for sale, gross unrealized gains | 465 | 818 |
Investment securities available for sale, gross unrealized losses | 43 | 0 |
Investment securities available for sale, Estimated fair value | $ 99,319 | $ 65,803 |
Note 7 - Investment Securitie_4
Note 7 - Investment Securities - Investments by Contractual Maturity Date (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
Due in one year or less, Amortized Cost | $ 69,741 | |
Due in one year or less, Fair Value | 69,890 | |
Due after one year through five years, Amortized Cost | 479,550 | |
Due after one year through five years, Fair Value | 478,222 | |
Due after five years through ten years, Amortized Cost | 23,551 | |
Due after five years through ten years, Fair Value | 23,637 | |
Due after ten years, Amortized Cost | 895,610 | |
Due after ten years, Fair Value | 899,835 | |
Total, Amortized Cost | 1,468,452 | $ 1,267,731 |
Total, Fair Value | $ 1,471,584 | $ 1,242,509 |
Note 7 - Investment Securitie_5
Note 7 - Investment Securities - Temporarily Impaired Securities (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
Temporarily impaired securities, less than 12 months, fair value | $ 60,343 | $ 176,667 |
Temporarily impaired securities, less than 12 months, unrealized losses | 57 | 629 |
Temporarily impaired securities, 12 months or longer, fair value | 763,721 | 899,523 |
Temporarily impaired securities, 12 months or longer, unrealized losses | 4,368 | 26,371 |
Temporarily impaired securities, total fair value | 824,064 | 1,076,190 |
Temporarily impaired securities, total unrealized losses | 4,425 | 27,000 |
US Government Corporations and Agencies Securities [Member] | ||
Temporarily impaired securities, less than 12 months, fair value | 23,606 | 3,388 |
Temporarily impaired securities, less than 12 months, unrealized losses | 7 | 77 |
Temporarily impaired securities, 12 months or longer, fair value | 4,334 | 2,483 |
Temporarily impaired securities, 12 months or longer, unrealized losses | 151 | 118 |
Temporarily impaired securities, total fair value | 27,940 | 5,871 |
Temporarily impaired securities, total unrealized losses | 158 | 195 |
US Treasury Securities [Member] | ||
Temporarily impaired securities, less than 12 months, fair value | 124,751 | |
Temporarily impaired securities, less than 12 months, unrealized losses | 50 | |
Temporarily impaired securities, 12 months or longer, fair value | 0 | |
Temporarily impaired securities, 12 months or longer, unrealized losses | 0 | |
Temporarily impaired securities, total fair value | 124,751 | |
Temporarily impaired securities, total unrealized losses | 50 | |
US Government-sponsored Enterprises Debt Securities [Member] | ||
Temporarily impaired securities, less than 12 months, fair value | 0 | 0 |
Temporarily impaired securities, less than 12 months, unrealized losses | 0 | 0 |
Temporarily impaired securities, 12 months or longer, fair value | 398,340 | 388,362 |
Temporarily impaired securities, 12 months or longer, unrealized losses | 1,660 | 11,638 |
Temporarily impaired securities, total fair value | 398,340 | 388,362 |
Temporarily impaired securities, total unrealized losses | 1,660 | 11,638 |
Collateralized Mortgage Backed Securities [Member] | ||
Temporarily impaired securities, less than 12 months, fair value | 2,874 | 48,528 |
Temporarily impaired securities, less than 12 months, unrealized losses | 7 | 502 |
Temporarily impaired securities, 12 months or longer, fair value | 360,270 | 507,701 |
Temporarily impaired securities, 12 months or longer, unrealized losses | 2,539 | 14,587 |
Temporarily impaired securities, total fair value | 363,144 | 556,229 |
Temporarily impaired securities, total unrealized losses | 2,546 | 15,089 |
Collateralized Mortgage Obligations [Member] | ||
Temporarily impaired securities, less than 12 months, fair value | 0 | 0 |
Temporarily impaired securities, less than 12 months, unrealized losses | 0 | 0 |
Temporarily impaired securities, 12 months or longer, fair value | 777 | 977 |
Temporarily impaired securities, 12 months or longer, unrealized losses | 18 | 28 |
Temporarily impaired securities, total fair value | 777 | 977 |
Temporarily impaired securities, total unrealized losses | 18 | $ 28 |
Corporate Debt Securities [Member] | ||
Temporarily impaired securities, less than 12 months, fair value | 33,863 | |
Temporarily impaired securities, less than 12 months, unrealized losses | 43 | |
Temporarily impaired securities, 12 months or longer, fair value | 0 | |
Temporarily impaired securities, 12 months or longer, unrealized losses | 0 | |
Temporarily impaired securities, total fair value | 33,863 | |
Temporarily impaired securities, total unrealized losses | $ 43 |
Note 8 - Loans (Details Textual
Note 8 - Loans (Details Textual) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2019 | Dec. 31, 2018 | |
Impaired Financing Receivable, Recorded Investment, Total | $ 119,646 | $ 106,886 |
Percentage Of Charge Off To Contractual Balances For Impaired Loans | 9.90% | 9.30% |
Financing Receivable, Troubled Debt Restructuring, Commitment to Lend | $ 0 | |
Minimum [Member] | ||
Period Loan Is In Payment Default | 60 days | |
Maximum [Member] | ||
Period Loan Is In Payment Default | 90 days | |
Nonaccrual Loans [Member] | ||
Impaired Financing Receivable, Recorded Investment, Total | $ 54,700 | $ 41,800 |
Accruing Troubled Debt Restructuring [Member] | ||
Impaired Financing Receivable, Recorded Investment, Total | 64,900 | 65,100 |
Financing Receivable, Troubled Debt Restructuring | 64,900 | 65,100 |
Troubled Debt Restructuring, Specific Reserves | 1,300 | 1,500 |
Non-accruing Troubled Debt Restructuring [Member] | ||
Financing Receivable, Troubled Debt Restructuring | 22,500 | 24,200 |
Troubled Debt Restructuring, Specific Reserves | $ 54 | $ 826 |
Note 8 - Loans - Components of
Note 8 - Loans - Components of Loans in Consolidated Balance Sheets (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
Loans | $ 14,593,510 | $ 13,995,788 |
Less: Allowance for loan losses | (122,651) | (122,391) |
Unamortized deferred loan fees, net | (1,415) | (1,565) |
Total loans, net | 14,469,444 | 13,871,832 |
Commercial Portfolio Segment [Member] | ||
Loans | 2,772,982 | 2,741,965 |
Less: Allowance for loan losses | (54,293) | (54,978) |
Residential Portfolio Segment [Member] | ||
Loans | 3,967,135 | 3,693,853 |
Commercial Real Estate Portfolio Segment [Member] | ||
Loans | 6,945,562 | 6,724,200 |
Less: Allowance for loan losses | (33,154) | (33,487) |
Equity Lines Portfolio Segment [Member] | ||
Loans | 302,351 | 249,967 |
Real Estate Construction Portfolio Segment [Member] | ||
Loans | 598,849 | 581,454 |
Less: Allowance for loan losses | (21,010) | (19,626) |
Consumer Portfolio Segment [Member] | ||
Loans | 6,631 | 4,349 |
Less: Allowance for loan losses | $ (30) | $ (18) |
Note 8 - Loans - Average Balanc
Note 8 - Loans - Average Balance and Interest Income Recognized Related to Impaired Loans (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Average Recorded Investment | $ 118,905 | $ 133,809 | $ 117,006 | $ 129,741 |
Interest Income Recognized | 1,116 | 1,224 | 1,927 | 2,275 |
Commercial Portfolio Segment [Member] | ||||
Average Recorded Investment | 46,792 | 46,763 | 42,388 | 45,978 |
Interest Income Recognized | 587 | 498 | 820 | 825 |
Real Estate Construction Portfolio Segment [Member] | ||||
Average Recorded Investment | 4,726 | 8,378 | 4,771 | 8,258 |
Interest Income Recognized | 0 | 0 | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | ||||
Average Recorded Investment | 54,404 | 64,004 | 56,724 | 61,316 |
Interest Income Recognized | 448 | 633 | 942 | 1,264 |
Residential Mortgage and Equity Lines Portfolio Segment [Member] | ||||
Average Recorded Investment | 12,983 | 14,664 | 13,123 | 14,189 |
Interest Income Recognized | $ 81 | $ 93 | $ 165 | $ 186 |
Note 8 - Loans - Impaired Loans
Note 8 - Loans - Impaired Loans and Related Allowance for Credit Losses (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
Loans with no related allowance, unpaid principal balance | $ 91,251 | $ 77,605 |
Loans with no related allowance, recorded investment | 75,395 | 65,315 |
Loans with related allowance, unpaid principal balance | 45,393 | 42,686 |
Loans with related allowance, recorded investment | 44,251 | 41,571 |
Allowance | 1,686 | 3,802 |
Total impaired loans, unpaid principal balance | 136,644 | 120,291 |
Total impaired loans, recorded investment | 119,646 | 106,886 |
Commercial Portfolio Segment [Member] | ||
Loans with no related allowance, unpaid principal balance | 45,022 | 32,015 |
Loans with no related allowance, recorded investment | 40,260 | 30,368 |
Loans with related allowance, unpaid principal balance | 12,577 | 6,653 |
Loans with related allowance, recorded investment | 12,563 | 6,570 |
Allowance | 832 | 1,837 |
Real Estate Construction Portfolio Segment [Member] | ||
Loans with no related allowance, unpaid principal balance | 5,776 | 5,776 |
Loans with no related allowance, recorded investment | 4,702 | 4,873 |
Commercial Real Estate Portfolio Segment [Member] | ||
Loans with no related allowance, unpaid principal balance | 33,410 | 34,129 |
Loans with no related allowance, recorded investment | 23,436 | 24,409 |
Loans with related allowance, unpaid principal balance | 25,761 | 27,099 |
Loans with related allowance, recorded investment | 25,704 | 27,063 |
Allowance | 620 | 877 |
Residential Mortgage and Equity Lines Portfolio Segment [Member] | ||
Loans with no related allowance, unpaid principal balance | 7,043 | 5,685 |
Loans with no related allowance, recorded investment | 6,997 | 5,665 |
Loans with related allowance, unpaid principal balance | 7,055 | 8,934 |
Loans with related allowance, recorded investment | 5,984 | 7,938 |
Allowance | $ 234 | $ 1,088 |
Note 8 - Loans - Aging of Loan
Note 8 - Loans - Aging of Loan Portfolio (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
Loans past due | $ 87,717 | $ 106,057 |
Non-accrual loans | 54,748 | 41,815 |
Loans not past due | 14,505,793 | 13,889,731 |
Loans | 14,593,510 | 13,995,788 |
Financial Asset, 30 to 59 Days Past Due [Member] | ||
Loans past due | 12,755 | 45,978 |
Financial Asset, 60 to 89 Days Past Due [Member] | ||
Loans past due | 5,745 | 14,491 |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Loans past due | 14,469 | 3,773 |
Commercial Portfolio Segment [Member] | ||
Loans past due | 34,038 | 47,267 |
Non-accrual loans | 28,070 | 18,805 |
Loans not past due | 2,738,944 | 2,694,698 |
Loans | 2,772,982 | 2,741,965 |
Commercial Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Loans past due | 4,998 | 25,494 |
Commercial Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Loans past due | 970 | 2,454 |
Commercial Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Loans past due | 0 | 514 |
Real Estate Construction Portfolio Segment [Member] | ||
Loans past due | 7,529 | 8,028 |
Non-accrual loans | 4,702 | 4,872 |
Loans not past due | 591,320 | 573,426 |
Loans | 598,849 | 581,454 |
Real Estate Construction Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Loans past due | 2,827 | 0 |
Real Estate Construction Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Loans past due | 0 | 3,156 |
Real Estate Construction Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Loans past due | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | ||
Loans past due | 38,178 | 33,212 |
Non-accrual loans | 14,515 | 10,611 |
Loans not past due | 6,907,384 | 6,690,988 |
Loans | 6,945,562 | 6,724,200 |
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Loans past due | 4,930 | 10,797 |
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Loans past due | 4,264 | 8,545 |
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Loans past due | 14,469 | 3,259 |
Residential Mortgage and Equity Lines Portfolio Segment [Member] | ||
Loans past due | 7,972 | 17,550 |
Non-accrual loans | 7,461 | 7,527 |
Loans not past due | 4,261,514 | 3,926,270 |
Loans | 4,269,486 | 3,943,820 |
Residential Mortgage and Equity Lines Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Loans past due | 0 | 9,687 |
Residential Mortgage and Equity Lines Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Loans past due | 511 | 336 |
Residential Mortgage and Equity Lines Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Loans past due | 0 | 0 |
Installment and Other Loans [Member ] | ||
Loans past due | 0 | 0 |
Non-accrual loans | 0 | 0 |
Loans not past due | 6,631 | 4,349 |
Loans | 6,631 | 4,349 |
Installment and Other Loans [Member ] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Loans past due | 0 | 0 |
Installment and Other Loans [Member ] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Loans past due | 0 | 0 |
Installment and Other Loans [Member ] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Loans past due | $ 0 | $ 0 |
Note 8 - Loans - Troubled Debt
Note 8 - Loans - Troubled Debt Restructuring (Details) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019USD ($) | Jun. 30, 2018USD ($) | Jun. 30, 2019USD ($) | Jun. 30, 2018USD ($) | |
No. of Contracts | 19 | 15 | 20 | 26 |
Pre-Modification Outstanding Recorded Investment | $ 16,405 | $ 5,127 | $ 18,352 | $ 22,678 |
Post-Modification Outstanding Recorded Investment | 15,551 | 5,127 | 16,381 | 22,678 |
Charge-offs | 811 | 0 | 811 | 0 |
Specific reserve | $ 37 | $ 0 | $ 37 | $ 134 |
Commercial Portfolio Segment [Member] | ||||
No. of Contracts | 19 | 15 | 20 | 18 |
Pre-Modification Outstanding Recorded Investment | $ 16,405 | $ 5,127 | $ 18,352 | $ 7,590 |
Post-Modification Outstanding Recorded Investment | 15,551 | 5,127 | 16,381 | 7,590 |
Charge-offs | 811 | 0 | 811 | 0 |
Specific reserve | $ 37 | $ 0 | $ 37 | $ 0 |
Commercial Real Estate Portfolio Segment [Member] | ||||
No. of Contracts | 6 | |||
Pre-Modification Outstanding Recorded Investment | $ 14,287 | |||
Post-Modification Outstanding Recorded Investment | 14,287 | |||
Charge-offs | 0 | |||
Specific reserve | $ 126 | |||
Residential Mortgage and Equity Lines Portfolio Segment [Member] | ||||
No. of Contracts | 2 | |||
Pre-Modification Outstanding Recorded Investment | $ 801 | |||
Post-Modification Outstanding Recorded Investment | 801 | |||
Charge-offs | 0 | |||
Specific reserve | $ 8 |
Note 8 - Loans - Accruing Troub
Note 8 - Loans - Accruing Troubled Debt Restructurings (Details) - Accruing Troubled Debt Restructuring [Member] - USD ($) $ in Thousands | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 |
Accruing TDRs | $ 64,898 | $ 62,948 | $ 65,071 | $ 84,487 | $ 82,785 | $ 68,566 |
Payment Deferral [Member] | ||||||
Accruing TDRs | 37,524 | 35,510 | ||||
Contractual Interest Rate Reduction [Member] | ||||||
Accruing TDRs | 6,096 | 7,747 | ||||
Rate Reduction and Payment Deferral [Member] | ||||||
Accruing TDRs | 21,278 | 21,814 | ||||
Commercial Portfolio Segment [Member] | ||||||
Accruing TDRs | 24,753 | 18,135 | ||||
Commercial Portfolio Segment [Member] | Payment Deferral [Member] | ||||||
Accruing TDRs | 24,753 | 18,135 | ||||
Commercial Portfolio Segment [Member] | Contractual Interest Rate Reduction [Member] | ||||||
Accruing TDRs | 0 | 0 | ||||
Commercial Portfolio Segment [Member] | Rate Reduction and Payment Deferral [Member] | ||||||
Accruing TDRs | 0 | 0 | ||||
Commercial Real Estate Portfolio Segment [Member] | ||||||
Accruing TDRs | 34,626 | 40,860 | ||||
Commercial Real Estate Portfolio Segment [Member] | Payment Deferral [Member] | ||||||
Accruing TDRs | 9,761 | 14,022 | ||||
Commercial Real Estate Portfolio Segment [Member] | Contractual Interest Rate Reduction [Member] | ||||||
Accruing TDRs | 5,775 | 7,420 | ||||
Commercial Real Estate Portfolio Segment [Member] | Rate Reduction and Payment Deferral [Member] | ||||||
Accruing TDRs | 19,090 | 19,418 | ||||
Residential Portfolio Segment [Member] | ||||||
Accruing TDRs | 5,519 | 6,076 | ||||
Residential Portfolio Segment [Member] | Payment Deferral [Member] | ||||||
Accruing TDRs | 3,010 | 3,353 | ||||
Residential Portfolio Segment [Member] | Contractual Interest Rate Reduction [Member] | ||||||
Accruing TDRs | 321 | 327 | ||||
Residential Portfolio Segment [Member] | Rate Reduction and Payment Deferral [Member] | ||||||
Accruing TDRs | $ 2,188 | $ 2,396 |
Note 8 - Loans - Non-accrual Tr
Note 8 - Loans - Non-accrual Troubled Debt Restructurings (Details) - Non-accruing Troubled Debt Restructuring [Member] - USD ($) $ in Thousands | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 |
Accruing TDRs | $ 22,457 | $ 23,301 | $ 24,189 | $ 30,347 | $ 31,195 | $ 33,415 |
Payment Deferral [Member] | ||||||
Accruing TDRs | 17,936 | 19,194 | ||||
Contractual Interest Rate Reduction [Member] | ||||||
Accruing TDRs | 0 | 0 | ||||
Rate Reduction and Payment Deferral [Member] | ||||||
Accruing TDRs | 4,521 | 4,995 | ||||
Commercial Portfolio Segment [Member] | ||||||
Accruing TDRs | 16,278 | 13,771 | ||||
Commercial Portfolio Segment [Member] | Payment Deferral [Member] | ||||||
Accruing TDRs | 16,278 | 13,771 | ||||
Commercial Portfolio Segment [Member] | Contractual Interest Rate Reduction [Member] | ||||||
Accruing TDRs | 0 | 0 | ||||
Commercial Portfolio Segment [Member] | Rate Reduction and Payment Deferral [Member] | ||||||
Accruing TDRs | 0 | 0 | ||||
Commercial Real Estate Portfolio Segment [Member] | ||||||
Accruing TDRs | 4,417 | 8,566 | ||||
Commercial Real Estate Portfolio Segment [Member] | Payment Deferral [Member] | ||||||
Accruing TDRs | 0 | 3,682 | ||||
Commercial Real Estate Portfolio Segment [Member] | Contractual Interest Rate Reduction [Member] | ||||||
Accruing TDRs | 0 | 0 | ||||
Commercial Real Estate Portfolio Segment [Member] | Rate Reduction and Payment Deferral [Member] | ||||||
Accruing TDRs | 4,417 | 4,884 | ||||
Residential Portfolio Segment [Member] | ||||||
Accruing TDRs | 1,762 | 1,852 | ||||
Residential Portfolio Segment [Member] | Payment Deferral [Member] | ||||||
Accruing TDRs | 1,658 | 1,741 | ||||
Residential Portfolio Segment [Member] | Contractual Interest Rate Reduction [Member] | ||||||
Accruing TDRs | 0 | 0 | ||||
Residential Portfolio Segment [Member] | Rate Reduction and Payment Deferral [Member] | ||||||
Accruing TDRs | $ 104 | $ 111 |
Note 8 - Loans - Troubled Deb_2
Note 8 - Loans - Troubled Debt Restructuring Activity (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Charge-offs | $ (811) | $ 0 | $ (811) | $ 0 |
Accruing Troubled Debt Restructuring [Member] | ||||
Beginning balance | 62,948 | 82,785 | 65,071 | 68,566 |
New restructurings | 13,244 | 5,127 | 15,192 | 22,447 |
Restructured loans restored to accrual status | 0 | 0 | 0 | 2,318 |
Payments | (9,998) | (2,855) | (14,069) | (6,746) |
Restructured loans placed on non-accrual status | (1,296) | (570) | (1,296) | (2,098) |
Ending balance | 64,898 | 84,487 | 64,898 | 84,487 |
Non-accruing Troubled Debt Restructuring [Member] | ||||
Beginning balance | 23,301 | 31,195 | 24,189 | 33,415 |
New restructurings | 3,160 | 0 | 3,160 | 231 |
Restructured loans restored to accrual status | 0 | 0 | 0 | (2,318) |
Payments | (4,489) | (1,257) | (4,970) | (2,918) |
Restructured loans placed on non-accrual status | 1,296 | 570 | 1,296 | 2,098 |
Ending balance | 22,457 | 30,347 | 22,457 | 30,347 |
Charge-offs | $ (811) | $ (161) | $ (1,218) | $ (161) |
Note 8 - Loans - Portfolio by R
Note 8 - Loans - Portfolio by Risk Rating (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
Loans | $ 14,593,510 | $ 13,995,788 |
Commercial Portfolio Segment [Member] | ||
Loans | 2,772,982 | 2,741,965 |
Real Estate Construction Portfolio Segment [Member] | ||
Loans | 598,849 | 581,454 |
Commercial Real Estate Portfolio Segment [Member] | ||
Loans | 6,945,562 | 6,724,200 |
Residential Mortgage and Equity Lines Portfolio Segment [Member] | ||
Loans | 4,269,486 | 3,943,820 |
Consumer Portfolio Segment [Member] | ||
Loans | 6,631 | 4,349 |
Pass [Member] | ||
Loans | 14,006,992 | 13,394,786 |
Pass [Member] | Commercial Portfolio Segment [Member] | ||
Loans | 2,568,884 | 2,603,901 |
Pass [Member] | Real Estate Construction Portfolio Segment [Member] | ||
Loans | 538,843 | 514,406 |
Pass [Member] | Commercial Real Estate Portfolio Segment [Member] | ||
Loans | 6,632,331 | 6,337,368 |
Pass [Member] | Residential Mortgage and Equity Lines Portfolio Segment [Member] | ||
Loans | 4,260,303 | 3,934,762 |
Pass [Member] | Consumer Portfolio Segment [Member] | ||
Loans | 6,631 | 4,349 |
Special Mention [Member] | ||
Loans | 390,832 | 454,953 |
Special Mention [Member] | Commercial Portfolio Segment [Member] | ||
Loans | 111,658 | 87,987 |
Special Mention [Member] | Real Estate Construction Portfolio Segment [Member] | ||
Loans | 55,303 | 62,175 |
Special Mention [Member] | Commercial Real Estate Portfolio Segment [Member] | ||
Loans | 222,932 | 304,791 |
Special Mention [Member] | Residential Mortgage and Equity Lines Portfolio Segment [Member] | ||
Loans | 939 | 0 |
Special Mention [Member] | Consumer Portfolio Segment [Member] | ||
Loans | 0 | 0 |
Substandard [Member] | ||
Loans | 195,686 | 146,049 |
Substandard [Member] | Commercial Portfolio Segment [Member] | ||
Loans | 92,440 | 50,077 |
Substandard [Member] | Real Estate Construction Portfolio Segment [Member] | ||
Loans | 4,703 | 4,873 |
Substandard [Member] | Commercial Real Estate Portfolio Segment [Member] | ||
Loans | 90,299 | 82,041 |
Substandard [Member] | Residential Mortgage and Equity Lines Portfolio Segment [Member] | ||
Loans | 8,244 | 9,058 |
Substandard [Member] | Consumer Portfolio Segment [Member] | ||
Loans | 0 | 0 |
Doubtful [Member] | ||
Loans | 0 | 0 |
Doubtful [Member] | Commercial Portfolio Segment [Member] | ||
Loans | 0 | 0 |
Doubtful [Member] | Real Estate Construction Portfolio Segment [Member] | ||
Loans | 0 | 0 |
Doubtful [Member] | Commercial Real Estate Portfolio Segment [Member] | ||
Loans | 0 | 0 |
Doubtful [Member] | Residential Mortgage and Equity Lines Portfolio Segment [Member] | ||
Loans | 0 | 0 |
Doubtful [Member] | Consumer Portfolio Segment [Member] | ||
Loans | $ 0 | $ 0 |
Note 8 - Loans - Allowance for
Note 8 - Loans - Allowance for Loan Losses by Portfolio Segment and Based on Impairment Method (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
Loans individually evaluated for impairment, allowance | $ 1,686 | $ 3,802 |
Loans individually evaluated for impairment, balance | 119,646 | 106,886 |
Loans collectively evaluated for impairment, allowance | 120,965 | 118,589 |
Loans collectively evaluated for impairment, balance | 14,473,864 | 13,888,902 |
Loans, allowance | 122,651 | 122,391 |
Loans | 14,593,510 | 13,995,788 |
Commercial Portfolio Segment [Member] | ||
Loans individually evaluated for impairment, allowance | 832 | 1,837 |
Loans individually evaluated for impairment, balance | 52,823 | 36,940 |
Loans collectively evaluated for impairment, allowance | 53,461 | 53,141 |
Loans collectively evaluated for impairment, balance | 2,720,159 | 2,705,025 |
Loans, allowance | 54,293 | 54,978 |
Loans | 2,772,982 | 2,741,965 |
Real Estate Construction Portfolio Segment [Member] | ||
Loans individually evaluated for impairment, allowance | 0 | 0 |
Loans individually evaluated for impairment, balance | 4,702 | 4,873 |
Loans collectively evaluated for impairment, allowance | 21,010 | 19,626 |
Loans collectively evaluated for impairment, balance | 594,147 | 576,581 |
Loans, allowance | 21,010 | 19,626 |
Loans | 598,849 | 581,454 |
Commercial Real Estate Portfolio Segment [Member] | ||
Loans individually evaluated for impairment, allowance | 620 | 877 |
Loans individually evaluated for impairment, balance | 49,140 | 51,471 |
Loans collectively evaluated for impairment, allowance | 32,534 | 32,610 |
Loans collectively evaluated for impairment, balance | 6,896,422 | 6,672,729 |
Loans, allowance | 33,154 | 33,487 |
Loans | 6,945,562 | 6,724,200 |
Residential Mortgage and Equity Lines Portfolio Segment [Member] | ||
Loans individually evaluated for impairment, allowance | 234 | 1,088 |
Loans individually evaluated for impairment, balance | 12,981 | 13,602 |
Loans collectively evaluated for impairment, allowance | 13,930 | 13,194 |
Loans collectively evaluated for impairment, balance | 4,256,505 | 3,930,218 |
Loans, allowance | 14,164 | 14,282 |
Loans | 4,269,486 | 3,943,820 |
Consumer Portfolio Segment [Member] | ||
Loans individually evaluated for impairment, allowance | 0 | 0 |
Loans individually evaluated for impairment, balance | 0 | 0 |
Loans collectively evaluated for impairment, allowance | 30 | 18 |
Loans collectively evaluated for impairment, balance | 6,631 | 4,349 |
Loans, allowance | 30 | 18 |
Loans | $ 6,631 | $ 4,349 |
Note 8 - Loans - Allowance fo_2
Note 8 - Loans - Allowance for Loan Losses by Portfolio Segment (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Balance | $ 122,555 | $ 122,084 | $ 122,391 | $ 123,279 |
Provision/(reversal) for possible credit losses | 0 | 0 | 0 | (3,000) |
Charge-offs | (1,713) | (878) | (2,944) | (897) |
Recoveries | 1,809 | 693 | 3,204 | 2,517 |
Net (charge-offs)/recoveries | 96 | (185) | 260 | 1,620 |
Balance | 122,651 | 121,899 | 122,651 | 121,899 |
Reserve for impaired loans | 1,686 | 3,833 | 1,686 | 3,833 |
Reserve for non-impaired loans | 120,965 | 118,066 | 120,965 | 118,066 |
Reserve for off-balance sheet credit commitments | 4,550 | 3,088 | 4,550 | 3,088 |
Commercial Portfolio Segment [Member] | ||||
Balance | 54,750 | 54,597 | 54,978 | 49,796 |
Provision/(reversal) for possible credit losses | (100) | 920 | 862 | 4,827 |
Charge-offs | (1,713) | (488) | (2,944) | (507) |
Recoveries | 1,356 | 150 | 1,397 | 1,063 |
Net (charge-offs)/recoveries | (357) | (338) | (1,547) | 556 |
Balance | 54,293 | 55,179 | 54,293 | 55,179 |
Reserve for impaired loans | 832 | 2,463 | 832 | 2,463 |
Reserve for non-impaired loans | 53,461 | 52,716 | 53,461 | 52,716 |
Reserve for off-balance sheet credit commitments | 2,090 | 1,606 | 2,090 | 1,606 |
Real Estate Construction Portfolio Segment [Member] | ||||
Balance | 20,723 | 21,864 | 19,626 | 24,838 |
Provision/(reversal) for possible credit losses | 257 | (1,245) | 310 | (4,263) |
Charge-offs | 0 | 0 | 0 | 0 |
Recoveries | 30 | 44 | 1,074 | 88 |
Net (charge-offs)/recoveries | 30 | 44 | 1,074 | 88 |
Balance | 21,010 | 20,663 | 21,010 | 20,663 |
Reserve for impaired loans | 0 | 0 | 0 | 0 |
Reserve for non-impaired loans | 21,010 | 20,663 | 21,010 | 20,663 |
Reserve for off-balance sheet credit commitments | 2,029 | 1,207 | 2,029 | 1,207 |
Commercial Real Estate Portfolio Segment [Member] | ||||
Balance | 33,073 | 34,230 | 33,487 | 37,610 |
Provision/(reversal) for possible credit losses | (180) | (533) | (746) | (4,696) |
Charge-offs | 0 | (161) | 0 | (161) |
Recoveries | 261 | 440 | 413 | 1,223 |
Net (charge-offs)/recoveries | 261 | 279 | 413 | 1,062 |
Balance | 33,154 | 33,976 | 33,154 | 33,976 |
Reserve for impaired loans | 620 | 1,036 | 620 | 1,036 |
Reserve for non-impaired loans | 32,534 | 32,940 | 32,534 | 32,940 |
Reserve for off-balance sheet credit commitments | 137 | 77 | 137 | 77 |
Residential Mortgage and Equity Lines Portfolio Segment [Member] | ||||
Balance | 13,975 | 11,372 | 14,282 | 11,013 |
Provision/(reversal) for possible credit losses | 27 | 860 | (438) | 1,135 |
Charge-offs | 0 | (229) | 0 | (229) |
Recoveries | 162 | 59 | 320 | 143 |
Net (charge-offs)/recoveries | 162 | (170) | 320 | (86) |
Balance | 14,164 | 12,062 | 14,164 | 12,062 |
Reserve for impaired loans | 234 | 334 | 234 | 334 |
Reserve for non-impaired loans | 13,930 | 11,728 | 13,930 | 11,728 |
Reserve for off-balance sheet credit commitments | 290 | 190 | 290 | 190 |
Installment and Other Loans [Member ] | ||||
Balance | 34 | 21 | 18 | 22 |
Provision/(reversal) for possible credit losses | (4) | (2) | 12 | (3) |
Charge-offs | 0 | 0 | 0 | 0 |
Recoveries | 0 | 0 | 0 | 0 |
Net (charge-offs)/recoveries | 0 | 0 | 0 | 0 |
Balance | 30 | 19 | 30 | 19 |
Reserve for impaired loans | 0 | 0 | 0 | 0 |
Reserve for non-impaired loans | 30 | 19 | 30 | 19 |
Reserve for off-balance sheet credit commitments | $ 4 | $ 8 | $ 4 | $ 8 |
Note 9 - Commitments and Cont_2
Note 9 - Commitments and Contingencies (Details Textual) - USD ($) $ in Millions | Jun. 30, 2019 | Dec. 31, 2018 |
Qualified Affordable Housing and Alternative Energy Partnerships [Member] | ||
Other Commitment, Total | $ 117.3 | $ 113 |
Note 10 - Leases (Details Textu
Note 10 - Leases (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |
Jun. 30, 2019 | Jun. 30, 2019 | Dec. 31, 2018 | |
Operating Lease, Weighted Average Discount Rate, Percent | 3.14% | 3.14% | |
Operating Lease, Weighted Average Remaining Lease Term | 5 years 7 months 9 days | 5 years 7 months 9 days | |
Operating Lease, Right-of-Use Asset | $ 36,515 | $ 36,515 | $ 0 |
Operating Lease, Right-of-use Asset, Accumulated Amortization | 4,100 | 4,100 | |
Operating Lease, Expense | 3,400 | 6,800 | |
Operating Lease, Payments | $ 2,000 | $ 4,100 |
Note 10 - Leases - Lease Maturi
Note 10 - Leases - Lease Maturity Schedule (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
Remaining 2019 | $ 4,208 | |
2020 | 8,511 | |
2021 | 7,603 | |
2022 | 6,417 | |
2023 | 5,416 | |
Thereafter | 9,521 | |
Total lease payments | 41,676 | |
Less amount of payment representing interest | (3,818) | |
Lease liabilities - operating leases | $ 37,858 | $ 0 |
Note 10 - Leases - Future Minim
Note 10 - Leases - Future Minimum Payments Under Operating Leases (Details) $ in Thousands | Dec. 31, 2018USD ($) |
2019 | $ 8,835 |
2020 | 7,220 |
2021 | 6,406 |
2022 | 5,406 |
2023 | 4,208 |
Thereafter | 4,899 |
Total minimum lease payments | $ 36,974 |
Note 11 - Borrowed Funds (Detai
Note 11 - Borrowed Funds (Details Textual) - USD ($) $ in Thousands | Oct. 12, 2017 | Jun. 30, 2019 | Dec. 31, 2018 |
Advances from Federal Home Loan Banks, Total | $ 550,000 | $ 530,000 | |
Long-term Debt, Total | 169,761 | 189,448 | |
Junior Subordinated Notes, Noncurrent | $ 119,100 | $ 119,100 | |
Junior Subordinated Debt [Member] | |||
Debt Instrument, Interest Rate, Stated Percentage | 4.57% | 4.96% | |
Debt Instrument, Term | 30 years | ||
SinoPac Bancorp [Member] | |||
Business Combination, Deferred Payments | $ 17,600 | ||
Debt Instrument, Interest Rate, Effective Percentage | 3.82% | ||
SinoPac Bancorp [Member] | London Interbank Offered Rate (LIBOR) [Member] | |||
Debt Instrument, Basis Spread on Variable Rate | 1.50% | ||
Mature in July 2019 [Member] | |||
Advances from Federal Home Loan Banks, Total | $ 150,000 | ||
Mature in July 2019 [Member] | SinoPac Bancorp [Member] | |||
Business Combination, Deferred Payments | 10,600 | ||
Mature in December 2019 [Member] | |||
Advances from Federal Home Loan Banks, Total | 50,000 | ||
Mature in May 2021 [Member] | |||
Advances from Federal Home Loan Banks, Total | 75,000 | ||
Mature in June 2021 [Member] | |||
Advances from Federal Home Loan Banks, Total | 50,000 | ||
Mature in July 2021 [Member] | |||
Advances from Federal Home Loan Banks, Total | 75,000 | ||
Mature in May 2023 [Member] | |||
Advances from Federal Home Loan Banks, Total | $ 20,000 | ||
Term Loan [Member] | US Bank [Member] | |||
Debt Instrument, Interest Rate, Effective Percentage | 4.25% | 4.125% | |
Debt Instrument, Face Amount | $ 75,000 | ||
Long-term Debt, Total | $ 50,600 | ||
Debt Instrument, Periodic Payment, Principal | $ 4,700 | ||
Term Loan [Member] | London Interbank Offered Rate (LIBOR) [Member] | US Bank [Member] | |||
Debt Instrument, Basis Spread on Variable Rate | 1.75% | ||
Over-night Borrowings [Member] | |||
Advances from Federal Home Loan Banks, Total | $ 130,000 | $ 200,000 | |
Federal Home Loan Bank, Advances, Branch of FHLB Bank, Interest Rate | 2.52% | 2.56% | |
Non Overnight Borrowings [Member] | |||
Advances from Federal Home Loan Banks, Total | $ 420,000 | $ 330,000 | |
Federal Home Loan Bank, Advances, Branch of FHLB Bank, Interest Rate | 2.29% | 2.42% |
Note 12 - Income Taxes (Details
Note 12 - Income Taxes (Details Textual) - USD ($) $ in Millions | 6 Months Ended | |
Jun. 30, 2019 | Jun. 30, 2018 | |
Effective Income Tax Rate Reconciliation, Percent, Total | 19.20% | 17.90% |
Effective Income Tax Rate Reconciliation, Tax Expense (Benefit), Share-based Payment Arrangement, Amount | $ 6 | |
Domestic Tax Authority [Member] | Internal Revenue Service (IRS) [Member] | ||
Open Tax Year | 2015 2016 2017 2018 | |
State and Local Jurisdiction [Member] | California Franchise Tax Board [Member] | ||
Open Tax Year | 2014 2015 2016 2017 2018 |
Note 13 - Fair Value Measurem_3
Note 13 - Fair Value Measurements (Details Textual) $ in Thousands | Jun. 30, 2019USD ($) | Dec. 31, 2018USD ($) |
Other Real Estate, Foreclosed Assets, and Repossessed Assets, Total | $ 11,329 | $ 12,674 |
Accounts Receivable Collateral [Member] | ||
Collateral Discount Rates | 55.00% | |
Inventory Collateral [Member] | ||
Collateral Discount Rates | 65.00% | |
Minimum [Member] | ||
Estimated Sales Cost Applied To Collateral | 3.00% | |
Maximum [Member] | ||
Estimated Sales Cost Applied To Collateral | 6.00% | |
Measurement Input, Expected Term [Member] | Minimum [Member] | ||
Warrants and Rights Outstanding, Measurement Input | 1 | |
Measurement Input, Expected Term [Member] | Maximum [Member] | ||
Warrants and Rights Outstanding, Measurement Input | 6 | |
Measurement Input, Risk Free Interest Rate [Member] | Minimum [Member] | ||
Warrants and Rights Outstanding, Measurement Input | 0.0191 | |
Measurement Input, Risk Free Interest Rate [Member] | Maximum [Member] | ||
Warrants and Rights Outstanding, Measurement Input | 0.0215 | |
Measurement Input, Price Volatility [Member] | Minimum [Member] | ||
Warrants and Rights Outstanding, Measurement Input | 0.1394 | |
Measurement Input, Price Volatility [Member] | Maximum [Member] | ||
Warrants and Rights Outstanding, Measurement Input | 0.2370 |
Note 13 - Fair Value Measurem_4
Note 13 - Fair Value Measurements - Assets and Liabilities Measured at Fair Value on a Recurring Basis (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
Securities available-for-sale | $ 1,471,584 | $ 1,242,509 |
Equity securities | 32,498 | 25,098 |
Assets, fair value disclosure | 1,506,204 | 1,275,998 |
Liabilities, fair value disclosure | 14,669 | 3,312 |
Fair Value, Inputs, Level 1 [Member] | ||
Securities available-for-sale | 49,791 | 124,751 |
Equity securities | 32,498 | 25,098 |
Assets, fair value disclosure | 82,289 | 149,849 |
Liabilities, fair value disclosure | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | ||
Securities available-for-sale | 1,421,793 | 1,117,758 |
Equity securities | 0 | 0 |
Assets, fair value disclosure | 1,423,871 | 1,125,965 |
Liabilities, fair value disclosure | 14,669 | 3,312 |
Fair Value, Inputs, Level 3 [Member] | ||
Securities available-for-sale | 0 | 0 |
Equity securities | 0 | 0 |
Assets, fair value disclosure | 44 | 184 |
Liabilities, fair value disclosure | 0 | 0 |
US Treasury Securities [Member] | ||
Securities available-for-sale | 49,791 | 124,751 |
US Treasury Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Securities available-for-sale | 49,791 | 124,751 |
US Treasury Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Securities available-for-sale | 0 | 0 |
US Treasury Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Securities available-for-sale | 0 | 0 |
US Government Corporations and Agencies Securities [Member] | ||
Securities available-for-sale | 77,252 | |
US Government Corporations and Agencies Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Securities available-for-sale | 0 | |
US Government Corporations and Agencies Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Securities available-for-sale | 77,252 | |
US Government Corporations and Agencies Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Securities available-for-sale | 0 | |
US Government Agencies Debt Securities [Member] | ||
Securities available-for-sale | 5,871 | |
US Government Agencies Debt Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Securities available-for-sale | 0 | |
US Government Agencies Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Securities available-for-sale | 5,871 | |
US Government Agencies Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Securities available-for-sale | 0 | |
US Government-sponsored Enterprises Debt Securities [Member] | ||
Securities available-for-sale | 398,340 | 388,363 |
US Government-sponsored Enterprises Debt Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Securities available-for-sale | 0 | 0 |
US Government-sponsored Enterprises Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Securities available-for-sale | 398,340 | 388,363 |
US Government-sponsored Enterprises Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Securities available-for-sale | 0 | 0 |
Commercial Mortgage Backed Securities [Member] | ||
Securities available-for-sale | 846,105 | 656,744 |
Commercial Mortgage Backed Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Securities available-for-sale | 0 | 0 |
Commercial Mortgage Backed Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Securities available-for-sale | 846,105 | 656,744 |
Commercial Mortgage Backed Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Securities available-for-sale | 0 | 0 |
Collateralized Mortgage Obligations [Member] | ||
Securities available-for-sale | 777 | 977 |
Collateralized Mortgage Obligations [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Securities available-for-sale | 0 | 0 |
Collateralized Mortgage Obligations [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Securities available-for-sale | 777 | 977 |
Collateralized Mortgage Obligations [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Securities available-for-sale | 0 | 0 |
Corporate Debt Securities [Member] | ||
Securities available-for-sale | 99,319 | 65,803 |
Corporate Debt Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Securities available-for-sale | 0 | 0 |
Corporate Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Securities available-for-sale | 99,319 | 65,803 |
Corporate Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Securities available-for-sale | 0 | 0 |
Mutual Funds [Member] | ||
Equity securities | 6,259 | 6,094 |
Mutual Funds [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Equity securities | 6,259 | 6,094 |
Mutual Funds [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Equity securities | 0 | 0 |
Mutual Funds [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Equity securities | 0 | 0 |
Preferred Stock of Government Sponsored Entities [Member] | ||
Equity securities | 14,183 | 7,822 |
Preferred Stock of Government Sponsored Entities [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Equity securities | 14,183 | 7,822 |
Preferred Stock of Government Sponsored Entities [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Equity securities | 0 | 0 |
Preferred Stock of Government Sponsored Entities [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Equity securities | 0 | 0 |
Other Equity Securities [Member] | ||
Equity securities | 12,056 | 11,182 |
Other Equity Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Equity securities | 12,056 | 11,182 |
Other Equity Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Equity securities | 0 | 0 |
Other Equity Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Equity securities | 0 | 0 |
Warrant [Member] | ||
Assets, fair value disclosure | 44 | 184 |
Warrant [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Assets, fair value disclosure | 0 | 0 |
Warrant [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Assets, fair value disclosure | 0 | 0 |
Warrant [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Assets, fair value disclosure | 44 | 184 |
Interest Rate Swap [Member] | ||
Assets, fair value disclosure | 1,440 | 7,810 |
Liabilities, fair value disclosure | 13,779 | 1,543 |
Interest Rate Swap [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Assets, fair value disclosure | 0 | 0 |
Liabilities, fair value disclosure | 0 | 0 |
Interest Rate Swap [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Assets, fair value disclosure | 1,440 | 7,810 |
Liabilities, fair value disclosure | 13,779 | 1,543 |
Interest Rate Swap [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Assets, fair value disclosure | 0 | 0 |
Liabilities, fair value disclosure | 0 | 0 |
Foreign Exchange Contract [Member] | ||
Assets, fair value disclosure | 638 | 397 |
Liabilities, fair value disclosure | 876 | 1,763 |
Foreign Exchange Contract [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Assets, fair value disclosure | 0 | 0 |
Liabilities, fair value disclosure | 0 | 0 |
Foreign Exchange Contract [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Assets, fair value disclosure | 638 | 397 |
Liabilities, fair value disclosure | 876 | 1,763 |
Foreign Exchange Contract [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Assets, fair value disclosure | 0 | 0 |
Liabilities, fair value disclosure | 0 | 0 |
Option Contracts [Member] | ||
Liabilities, fair value disclosure | 14 | 6 |
Option Contracts [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Liabilities, fair value disclosure | 0 | 0 |
Option Contracts [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Liabilities, fair value disclosure | 14 | 6 |
Option Contracts [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Liabilities, fair value disclosure | $ 0 | $ 0 |
Note 13 - Fair Value Measurem_5
Note 13 - Fair Value Measurements - Financial Assets and Liabilities Measured on a Non-recurring Basis (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | 12 Months Ended | |||||||||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | Dec. 31, 2018 | Dec. 31, 2017 | |||||||
Assets, fair value disclosure | $ 1,506,204 | $ 1,506,204 | $ 1,275,998 | |||||||||
Total Losses | 438 | $ 58 | 512 | $ 264 | (289) | $ 874 | ||||||
Fair Value, Nonrecurring [Member] | ||||||||||||
Assets, fair value disclosure | 56,280 | 56,280 | 53,297 | |||||||||
Fair Value, Inputs, Level 1 [Member] | ||||||||||||
Assets, fair value disclosure | 82,289 | 82,289 | 149,849 | |||||||||
Fair Value, Inputs, Level 1 [Member] | Fair Value, Nonrecurring [Member] | ||||||||||||
Assets, fair value disclosure | 0 | 0 | 0 | |||||||||
Fair Value, Inputs, Level 2 [Member] | ||||||||||||
Assets, fair value disclosure | 1,423,871 | 1,423,871 | 1,125,965 | |||||||||
Fair Value, Inputs, Level 2 [Member] | Fair Value, Nonrecurring [Member] | ||||||||||||
Assets, fair value disclosure | 7,625 | 7,625 | 9,023 | |||||||||
Fair Value, Inputs, Level 3 [Member] | ||||||||||||
Assets, fair value disclosure | 44 | 44 | 184 | |||||||||
Fair Value, Inputs, Level 3 [Member] | Fair Value, Nonrecurring [Member] | ||||||||||||
Assets, fair value disclosure | 48,655 | 48,655 | 44,274 | |||||||||
Residential Mortgage and Equity Lines Portfolio Segment [Member] | ||||||||||||
Total Losses | 0 | 0 | 0 | 0 | 0 | 0 | ||||||
Residential Mortgage and Equity Lines Portfolio Segment [Member] | Fair Value, Nonrecurring [Member] | ||||||||||||
Assets, fair value disclosure | 5,750 | 5,750 | 6,850 | |||||||||
Residential Mortgage and Equity Lines Portfolio Segment [Member] | Fair Value, Inputs, Level 1 [Member] | Fair Value, Nonrecurring [Member] | ||||||||||||
Assets, fair value disclosure | 0 | 0 | 0 | |||||||||
Residential Mortgage and Equity Lines Portfolio Segment [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Nonrecurring [Member] | ||||||||||||
Assets, fair value disclosure | 0 | 0 | 0 | |||||||||
Residential Mortgage and Equity Lines Portfolio Segment [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Nonrecurring [Member] | ||||||||||||
Assets, fair value disclosure | 5,750 | 5,750 | 6,850 | |||||||||
Impaired Loans [Member] | ||||||||||||
Total Losses | 0 | 0 | 0 | 0 | 0 | 25 | ||||||
Impaired Loans [Member] | Fair Value, Nonrecurring [Member] | ||||||||||||
Assets, fair value disclosure | 42,566 | 42,566 | 37,769 | |||||||||
Impaired Loans [Member] | Fair Value, Inputs, Level 1 [Member] | Fair Value, Nonrecurring [Member] | ||||||||||||
Assets, fair value disclosure | 0 | 0 | 0 | |||||||||
Impaired Loans [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Nonrecurring [Member] | ||||||||||||
Assets, fair value disclosure | 0 | 0 | 0 | |||||||||
Impaired Loans [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Nonrecurring [Member] | ||||||||||||
Assets, fair value disclosure | 42,566 | 42,566 | 37,769 | |||||||||
Impaired Loans [Member] | Commercial Portfolio Segment [Member] | ||||||||||||
Total Losses | 0 | 0 | 0 | 0 | 0 | 25 | ||||||
Impaired Loans [Member] | Commercial Portfolio Segment [Member] | Fair Value, Nonrecurring [Member] | ||||||||||||
Assets, fair value disclosure | 11,731 | 11,731 | 4,733 | |||||||||
Impaired Loans [Member] | Commercial Portfolio Segment [Member] | Fair Value, Inputs, Level 1 [Member] | Fair Value, Nonrecurring [Member] | ||||||||||||
Assets, fair value disclosure | 0 | 0 | 0 | |||||||||
Impaired Loans [Member] | Commercial Portfolio Segment [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Nonrecurring [Member] | ||||||||||||
Assets, fair value disclosure | 0 | 0 | 0 | |||||||||
Impaired Loans [Member] | Commercial Portfolio Segment [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Nonrecurring [Member] | ||||||||||||
Assets, fair value disclosure | 11,731 | 11,731 | 4,733 | |||||||||
Impaired Loans [Member] | Commercial Real Estate Portfolio Segment [Member] | ||||||||||||
Total Losses | 0 | 0 | 0 | 0 | 0 | 0 | ||||||
Impaired Loans [Member] | Commercial Real Estate Portfolio Segment [Member] | Fair Value, Nonrecurring [Member] | ||||||||||||
Assets, fair value disclosure | 25,085 | 25,085 | 26,186 | |||||||||
Impaired Loans [Member] | Commercial Real Estate Portfolio Segment [Member] | Fair Value, Inputs, Level 1 [Member] | Fair Value, Nonrecurring [Member] | ||||||||||||
Assets, fair value disclosure | 0 | 0 | 0 | |||||||||
Impaired Loans [Member] | Commercial Real Estate Portfolio Segment [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Nonrecurring [Member] | ||||||||||||
Assets, fair value disclosure | 0 | 0 | 0 | |||||||||
Impaired Loans [Member] | Commercial Real Estate Portfolio Segment [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Nonrecurring [Member] | ||||||||||||
Assets, fair value disclosure | 25,085 | 25,085 | 26,186 | |||||||||
Other Real Estate Owned [Member] | ||||||||||||
Total Losses | 422 | [1] | (33) | [1] | 494 | [1] | 0 | [1] | (619) | [2] | 457 | [2] |
Other Real Estate Owned [Member] | Fair Value, Nonrecurring [Member] | ||||||||||||
Assets, fair value disclosure | 11,968 | [1] | 11,968 | [1] | 13,366 | [2] | ||||||
Other Real Estate Owned [Member] | Fair Value, Inputs, Level 1 [Member] | Fair Value, Nonrecurring [Member] | ||||||||||||
Assets, fair value disclosure | 0 | [1] | 0 | [1] | 0 | [2] | ||||||
Other Real Estate Owned [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Nonrecurring [Member] | ||||||||||||
Assets, fair value disclosure | 7,625 | [1] | 7,625 | [1] | 9,023 | [2] | ||||||
Other Real Estate Owned [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Nonrecurring [Member] | ||||||||||||
Assets, fair value disclosure | 4,343 | [1] | 4,343 | [1] | 4,343 | [2] | ||||||
Investments in Venture Capital [Member] | ||||||||||||
Total Losses | 16 | $ 91 | 18 | $ 264 | 330 | $ 392 | ||||||
Investments in Venture Capital [Member] | Fair Value, Nonrecurring [Member] | ||||||||||||
Assets, fair value disclosure | 1,746 | 1,746 | 2,162 | |||||||||
Investments in Venture Capital [Member] | Fair Value, Inputs, Level 1 [Member] | Fair Value, Nonrecurring [Member] | ||||||||||||
Assets, fair value disclosure | 0 | 0 | 0 | |||||||||
Investments in Venture Capital [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Nonrecurring [Member] | ||||||||||||
Assets, fair value disclosure | 0 | 0 | 0 | |||||||||
Investments in Venture Capital [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Nonrecurring [Member] | ||||||||||||
Assets, fair value disclosure | $ 1,746 | $ 1,746 | $ 2,162 | |||||||||
[1] | Other real estate owned balance of $11.3 million in the condensed consolidated balance sheet is net of estimated disposal costs. | |||||||||||
[2] | Other real estate owned balance of $12.7 million in the Consolidated Balance Sheets is net of estimated disposal costs. |
Note 14 - Fair Value of Finan_3
Note 14 - Fair Value of Financial Instruments - Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 | |
Cash and due from banks | $ 206,123 | $ 225,333 | |
Securities available-for-sale | 1,471,584 | 1,242,509 | |
Loans, net | [1] | 14,814,173 | 13,928,162 |
Equity securities | 32,498 | 25,098 | |
Investment in Federal Home Loan Bank stock | 17,250 | 17,250 | |
Warrants | 1,440 | 7,810 | |
Foreign exchange contracts with gain | 109,659 | 86,875 | |
Foreign exchange contracts with gain, fair value | 638 | 397 | |
Interest rate swaps | 1 | 467,410 | |
Interest rate swaps, fair value | 1,440 | 7,810 | |
Deposits | 14,417,628 | 13,754,028 | |
Advances from Federal Home Loan Bank | 551,591 | 529,500 | |
Other borrowings | 43,084 | 34,031 | |
Long-term debt | 121,592 | 132,615 | |
Option contracts | 1,698 | 1,215 | |
Option contracts, fair value | 14 | 6 | |
Foreign exchange contracts with loss | 95,600 | 94,977 | |
Foreign exchange contracts with loss, fair value | 876 | 1,763 | |
Interest rate swaps | 5 | 265,166 | |
Interest rate swaps, fair value | 13,779 | 1,543 | |
Commitments to extend credit | 3,019,604 | 2,691,579 | |
Commitments to extend credit, fair value | (8,916) | (8,843) | |
Standby letters of credit | 255,584 | 245,087 | |
Standby letters of credit, fair value | (2,630) | (2,662) | |
Other letters of credit | 24,086 | 35,759 | |
Other letters of credit, fair value | (21) | (30) | |
Bill of lading guarantees | 188 | 730 | |
Bill of lading guarantees, fair value | 0 | 0 | |
Warrants [Member] | |||
Warrants | 44 | ||
Reported Value Measurement [Member] | |||
Cash and due from banks | 206,123 | 225,333 | |
Short-term investments | 351,603 | 374,957 | |
Securities available-for-sale | 1,471,584 | 1,242,509 | |
Loans, net | [1] | 14,469,444 | 13,871,832 |
Equity securities | 32,498 | 25,098 | |
Investment in Federal Home Loan Bank stock | 17,250 | 17,250 | |
Deposits | 14,362,922 | 13,702,340 | |
Advances from Federal Home Loan Bank | 550,000 | 530,000 | |
Other borrowings | 49,663 | 35,756 | |
Long-term debt | 169,761 | 189,448 | |
Reported Value Measurement [Member] | Warrants [Member] | |||
Warrants | 44 | 184 | |
Estimate of Fair Value Measurement [Member] | |||
Cash and due from banks | 206,123 | 225,333 | |
Short-term investments | 351,603 | 374,957 | |
Securities available-for-sale | 1,471,584 | 1,242,509 | |
Loans, net | [1] | 14,814,173 | 13,928,162 |
Equity securities | 32,498 | 25,098 | |
Investment in Federal Home Loan Bank stock | 17,250 | 17,250 | |
Deposits | 14,417,628 | 13,754,028 | |
Advances from Federal Home Loan Bank | 551,591 | 529,500 | |
Other borrowings | 43,084 | 34,031 | |
Long-term debt | 121,592 | 132,615 | |
Estimate of Fair Value Measurement [Member] | Warrants [Member] | |||
Warrants | $ 44 | $ 184 | |
[1] | In accordance with the prospective adoption of ASU 2016-01, the fair value of loans as of December 31, 2018 was measured using an exit price notion. The fair value of loans as of December 31, 2017 was measured using an entry price notion. |
Note 14 - Fair Value of Finan_4
Note 14 - Fair Value of Financial Instruments - Fair Value Hierarchy of Financial Instruments (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 | |
Cash and due from banks | $ 206,123 | $ 225,333 | |
Short-term investments | 351,603 | 374,957 | |
Securities available-for-sale | 1,471,584 | 1,242,509 | |
Loans, net | [1] | 14,814,173 | 13,928,162 |
Equity securities | 32,498 | 25,098 | |
Investment in Federal Home Loan Bank stock | 17,250 | 17,250 | |
Warrants | 1,440 | 7,810 | |
Deposits | 14,417,628 | 13,754,028 | |
Advances from Federal Home Loan Bank | 551,591 | 529,500 | |
Other borrowings | 43,084 | 34,031 | |
Long-term debt | 121,592 | 132,615 | |
Equity Securities, FV-NI | 32,498 | 25,098 | |
Warrants [Member] | |||
Warrants | 44 | ||
Warrants | 184 | ||
Fair Value, Inputs, Level 1 [Member] | |||
Cash and due from banks | 206,123 | 225,333 | |
Short-term investments | 351,603 | 374,957 | |
Securities available-for-sale | 49,791 | 124,751 | |
Loans, net | [1] | 0 | 0 |
Equity securities | 32,498 | 25,098 | |
Investment in Federal Home Loan Bank stock | 0 | 0 | |
Deposits | 0 | 0 | |
Advances from Federal Home Loan Bank | 0 | 0 | |
Other borrowings | 0 | 0 | |
Long-term debt | 0 | 0 | |
Equity Securities, FV-NI | 32,498 | 25,098 | |
Fair Value, Inputs, Level 1 [Member] | Warrants [Member] | |||
Warrants | 0 | ||
Warrants | 0 | ||
Fair Value, Inputs, Level 2 [Member] | |||
Cash and due from banks | 0 | 0 | |
Short-term investments | 0 | 0 | |
Securities available-for-sale | 1,421,793 | 1,117,758 | |
Loans, net | [1] | 0 | 0 |
Equity securities | 0 | 0 | |
Investment in Federal Home Loan Bank stock | 17,250 | 17,250 | |
Deposits | 0 | 0 | |
Advances from Federal Home Loan Bank | 551,591 | 529,500 | |
Other borrowings | 0 | 0 | |
Long-term debt | 121,592 | 132,615 | |
Equity Securities, FV-NI | 0 | 0 | |
Fair Value, Inputs, Level 2 [Member] | Warrants [Member] | |||
Warrants | 0 | ||
Warrants | 0 | ||
Fair Value, Inputs, Level 3 [Member] | |||
Cash and due from banks | 0 | 0 | |
Short-term investments | 0 | 0 | |
Securities available-for-sale | 0 | 0 | |
Loans, net | [1] | 14,814,173 | 13,928,162 |
Equity securities | 0 | 0 | |
Investment in Federal Home Loan Bank stock | 0 | 0 | |
Deposits | 14,417,628 | 13,754,028 | |
Advances from Federal Home Loan Bank | 0 | 0 | |
Other borrowings | 43,084 | 34,031 | |
Long-term debt | 0 | 0 | |
Equity Securities, FV-NI | 0 | 0 | |
Fair Value, Inputs, Level 3 [Member] | Warrants [Member] | |||
Warrants | $ 44 | ||
Warrants | $ 184 | ||
[1] | In accordance with the prospective adoption of ASU 2016-01, the fair value of loans as of December 31, 2018 was measured using an exit price notion. The fair value of loans as of December 31, 2017 was measured using an entry price notion. |
Note 16 - Financial Derivativ_2
Note 16 - Financial Derivatives (Details Textual) - USD ($) $ in Thousands | May 31, 2014 | Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | Dec. 31, 2018 |
Junior Subordinated Notes, Total | $ 119,100 | |||||
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, Net of Tax | $ (2,102) | $ 736 | $ (3,326) | $ 2,929 | ||
Cash [Member] | ||||||
Collateral Already Posted, Aggregate Fair Value | 6,900 | 6,900 | $ 1,800 | |||
Interest Rate Swap [Member] | Cash Flow Hedging [Member] | Designated as Hedging Instrument [Member] | ||||||
Derivative Outstanding, Notional Amount | $ 119,100 | 119,100 | 119,100 | 119,100 | ||
Derivative Original Maturity | 10 years | |||||
Derivative, Average Fixed Interest Rate | 2.61% | |||||
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, Net of Tax | 3,600 | 241 | ||||
Net Accrued on Interest Rate Swaps | $ 8 | 123 | $ 37 | 396 | ||
Interest Rate Swap [Member] | Cash Flow Hedging [Member] | Designated as Hedging Instrument [Member] | London Interbank Offered Rate (LIBOR) [Member] | ||||||
Derivative, Average Variable Interest Rate | 2.50% | 2.50% | ||||
Interest Rate Swap [Member] | Fair Value Hedging [Member] | Designated as Hedging Instrument [Member] | ||||||
Derivative Outstanding, Notional Amount | $ 570,800 | $ 570,800 | 613,400 | |||
Derivative, Average Fixed Interest Rate | 4.72% | 4.72% | ||||
Derivative, Average Variable Interest Rate | 5.10% | 5.10% | ||||
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, Net of Tax | $ 7,300 | 6,600 | ||||
Net Accrued on Interest Rate Swaps | $ 534 | $ 0 | $ 1,100 | $ (229) | ||
Interest Rate Swap [Member] | Fair Value Hedging [Member] | Designated as Hedging Instrument [Member] | Minimum [Member] | ||||||
Derivative Original Maturity | 3 years | |||||
Interest Rate Swap [Member] | Fair Value Hedging [Member] | Designated as Hedging Instrument [Member] | Maximum [Member] | ||||||
Derivative Original Maturity | 10 years | |||||
Interest Rate Swap [Member] | Fair Value Hedging [Member] | Designated as Hedging Instrument [Member] | London Interbank Offered Rate (LIBOR) [Member] | ||||||
Derivative, Average Variable Interest Rate | 2.62% | 2.62% | ||||
Negative Fair Value [Member] | ||||||
Notional Amount Of Option Contract | $ 1,700 | $ 1,700 | 1,200 | |||
Open Option Contracts Fair Value | 14 | 14 | 6 | |||
Sum Of Spot And Forward Contract Notional Amount | 95,600 | 95,600 | 95,000 | |||
Negative Fair Value | 876 | 876 | 1,800 | |||
Positive Fair Value [Member] | ||||||
Sum Of Spot And Forward Contract Notional Amount | 109,700 | 109,700 | 86,900 | |||
Positive Fair Value | $ 638 | $ 638 | $ 397 |
Note 17 - Balance Sheet Offse_3
Note 17 - Balance Sheet Offsetting - Financial Instruments That Are Eligible for Offset in the Consolidated Balance Sheet (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
Derivative assets, gross | $ 1,440 | $ 7,810 |
Derivative assets, net | 1,440 | 7,810 |
Derivative assets not offset | 1,440 | 7,810 |
Derivative liabilities, gross | 13,779 | 1,543 |
Derivative liabilities, net | 13,779 | 1,543 |
Derivatives, collateral posted | (16,065) | (1,543) |
Derivative liabilities, not offset | $ (2,286) | $ 0 |
Note 18 - Revenue from Contra_3
Note 18 - Revenue from Contracts with Customers - Summary of Revenue (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | ||
Revenue | $ 8,092 | $ 7,015 | $ 15,204 | $ 13,882 | |
Noninterest income, not in-scope(2) | [1] | 4,702 | 752 | 10,511 | (805) |
Total non-interest income | 12,794 | 7,767 | 25,715 | 13,077 | |
Fees and Services Charges on Deposit Account [Member] | |||||
Revenue | 2,020 | 2,076 | 4,047 | 4,394 | |
Wealth Management Fees [Member] | |||||
Revenue | 2,513 | 1,423 | 4,209 | 2,724 | |
Other Service Fees [Member] | |||||
Revenue | [2] | $ 3,559 | $ 3,516 | $ 6,948 | $ 6,764 |
[1] | These amounts primarily represent revenue from contracts with customers that are out of the scope of ASC 606. | ||||
[2] | Other service fees comprise of fees related to letters of credit, wire fees, fees on foreign exchange transactions and other immaterial individual revenue streams. |
Note 19 - Stockholders' Equit_2
Note 19 - Stockholders' Equity (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||||||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | Mar. 31, 2019 | Dec. 31, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | |
Stockholders' Equity Attributable to Parent, Ending Balance | $ 2,199,297 | $ 2,064,833 | $ 2,199,297 | $ 2,064,833 | $ 2,163,329 | $ 2,121,866 | $ 2,009,792 | $ 1,973,304 |
Stockholders' Equity, Period Increase (Decrease), Total | 77,400 | |||||||
Net Income (Loss) Attributable to Parent, Total | 72,244 | 73,664 | 138,923 | 137,480 | ||||
Other Comprehensive Income (Loss), Net of Tax, Total | 9,073 | (2,015) | 16,648 | (11,336) | ||||
Proceeds from Issuance of Common Stock, Dividend Reinvestment Plan | 1,681 | 1,325 | ||||||
Dividends, Common Stock, Cash | $ 24,754 | $ 19,498 | 49,721 | 38,966 | ||||
Payments for Repurchase of Common Stock | $ 31,609 | $ 0 |
Note 19 - Stockholders' Equit_3
Note 19 - Stockholders' Equity - Accumulated Other Comprehensive Income (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | ||||
Beginning balance, loss, net of tax | $ 2,163,329 | $ 2,009,792 | $ 2,121,866 | $ 1,973,304 | |||
Total other comprehensive (loss)/income, net of tax | 9,073 | (2,015) | 16,648 | (11,336) | |||
Ending balance, loss, net of tax | 2,199,297 | 2,064,833 | 2,199,297 | 2,064,833 | |||
AOCI, Accumulated Gain (Loss), Debt Securities, Available-for-sale, Parent [Member] | |||||||
Beginning balance, loss, net of tax | (8,966) | (21,333) | (17,765) | (1,060) | |||
Net unrealized (losses)/gains arising during the period, pre-tax | 15,865 | (3,905) | 0 | [1] | 0 | [1] | |
Net unrealized (losses)/gains arising during the period, tax | 4,690 | (1,154) | 0 | [1] | 200 | [1] | |
Net unrealized (losses)/gains arising during the period, net of tax | 11,175 | (2,751) | 0 | [1] | (200) | [1] | |
Total other comprehensive (loss)/income, pre-tax | 15,865 | (3,905) | 28,356 | (20,251) | |||
Total other comprehensive (loss)/income, tax | 4,690 | (1,154) | 8,382 | (5,986) | |||
Total other comprehensive (loss)/income, net of tax | 11,175 | (2,751) | 19,974 | (14,265) | |||
Ending balance, loss, net of tax | 2,209 | (24,084) | 2,209 | (24,084) | |||
Reclassification adjustment for net losses/(gains) included in net income, pre-tax | 28,356 | (20,251) | |||||
Reclassification adjustment for net losses/(gains) included in net income, tax | 8,382 | (5,986) | |||||
Reclassification adjustment for net losses/(gains) included in net income, net of tax | 19,974 | (14,265) | |||||
Accumulated Gain (Loss), Net, Cash Flow Hedge, Parent [Member] | |||||||
Beginning balance, loss, net of tax | (1,465) | 427 | (241) | (1,451) | |||
Net unrealized (losses)/gains arising during the period, pre-tax | (2,984) | 1,045 | 0 | [1] | 0 | [1] | |
Net unrealized (losses)/gains arising during the period, tax | (882) | 309 | 0 | [1] | 315 | [1] | |
Net unrealized (losses)/gains arising during the period, net of tax | (2,102) | 736 | 0 | [1] | (315) | [1] | |
Total other comprehensive (loss)/income, pre-tax | (2,984) | 1,045 | (4,722) | 4,158 | |||
Total other comprehensive (loss)/income, tax | (882) | 309 | (1,396) | 1,229 | |||
Total other comprehensive (loss)/income, net of tax | (2,102) | 736 | (3,326) | 2,929 | |||
Ending balance, loss, net of tax | (3,567) | 1,163 | (3,567) | 1,163 | |||
Reclassification adjustment for net losses/(gains) included in net income, pre-tax | (4,722) | 4,158 | |||||
Reclassification adjustment for net losses/(gains) included in net income, tax | (1,396) | 1,229 | |||||
Reclassification adjustment for net losses/(gains) included in net income, net of tax | (3,326) | 2,929 | |||||
AOCI Attributable to Parent [Member] | |||||||
Beginning balance, loss, net of tax | (10,431) | (20,906) | (18,006) | (2,511) | |||
Net unrealized (losses)/gains arising during the period, pre-tax | 12,881 | (2,860) | 0 | [1] | 0 | [1] | |
Net unrealized (losses)/gains arising during the period, tax | 3,808 | (845) | 0 | [1] | 515 | [1] | |
Net unrealized (losses)/gains arising during the period, net of tax | 9,073 | (2,015) | 0 | [1] | (515) | [1] | |
Total other comprehensive (loss)/income, pre-tax | 12,881 | (2,860) | 23,634 | (16,093) | |||
Total other comprehensive (loss)/income, tax | 3,808 | (845) | 6,986 | (4,757) | |||
Total other comprehensive (loss)/income, net of tax | 9,073 | (2,015) | 16,648 | (11,336) | |||
Ending balance, loss, net of tax | $ (1,358) | $ (22,921) | (1,358) | (22,921) | |||
Reclassification adjustment for equity securities, pre-tax | [2] | 0 | (12,151) | ||||
Reclassification adjustment for equity securities, tax | [2] | 0 | (3,592) | ||||
Reclassification adjustment for equity securities, net of tax | [2] | 0 | (8,559) | ||||
Reclassification adjustment for net losses/(gains) included in net income, pre-tax | 23,634 | (16,093) | |||||
Reclassification adjustment for net losses/(gains) included in net income, tax | 6,986 | (4,757) | |||||
Reclassification adjustment for net losses/(gains) included in net income, net of tax | $ 16,648 | $ (11,336) | |||||
[1] | These amounts were recorded as of January 1, 2018 as a result of the adoption of ASU 2018-2. | ||||||
[2] | This amount was recorded as of January 1, 2018 as a result of the adoption of ASU 2016-1. |
Note 20 - Stock Repurchase Pr_2
Note 20 - Stock Repurchase Program (Details Textual) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 6 Months Ended | 8 Months Ended | 12 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2019 | Jun. 30, 2019 | Dec. 31, 2018 | May 07, 2019 | Oct. 26, 2018 | |
Treasury Stock, Value, Acquired, Cost Method | $ 23,008 | $ 31,609 | ||||
October 26, 2018 Stock Repurchase Program [Member] | ||||||
Stock Repurchase Program, Authorized Amount | $ 45,000 | |||||
Treasury Stock, Shares, Acquired | 268,660 | 1,182,060 | 913,400 | |||
Treasury Stock, Value, Acquired, Cost Method | $ 9,900 | $ 35,100 | ||||
Treasury Stock Acquired, Average Cost Per Share | $ 36.83 | $ 38.07 | $ 38.43 | |||
May 2019 Repurchase Program [Member] | ||||||
Stock Repurchase Program, Authorized Amount | $ 50,000 | |||||
Treasury Stock, Shares, Acquired | 606,934 | |||||
Treasury Stock, Value, Acquired, Cost Method | $ 21,700 | |||||
Treasury Stock Acquired, Average Cost Per Share | $ 35.78 | |||||
Stock Repurchase Program, Remaining Authorized Repurchase Amount | $ 28,300 | $ 28,300 | $ 28,300 |