Loans (Tables)

6 Months Ended

Jun. 30, 2019

Receivables [Abstract]

Schedule of Loans by Class

The following table presents loans by class as of the dates indicated:

	June 30, 2019		December 31, 2018
Real estate loans:
Commercial	$	3,465.8	$	3,235.4
Construction:
Land acquisition & development	307.4		321.6
Residential	261.0		242.8
Commercial	353.4		274.3
Total construction loans	921.8		838.7
Residential	1,559.1		1,542.0
Agricultural	225.5		217.4
Total real estate loans	6,172.2		5,833.5
Consumer:
Indirect consumer	793.1		787.8
Other consumer	201.7		200.6
Credit card	81.2		81.8
Total consumer loans	1,076.0		1,070.2
Commercial	1,466.7		1,310.3
Agricultural	277.6		254.8
Other, including overdrafts	2.7		1.6
Loans held for investment	8,995.2		8,470.4
Mortgage loans held for sale	64.1		33.3
Total loans	$	9,059.3	$	8,503.7

Schedule of Recorded Investment in Past Due Loans by Class

The following tables present the Company’s recorded investment and contractual aging of the Company’s recorded investment in loans by class as of the dates indicated. Loans are considered past due if the required principal and interest payments have not been received as of the date such payments were due.

							Total Loans
	30 - 59		60 - 89		> 90		30 or More
	Days		Days		Days		Days		Current		Non-accrual		Total
As of June 30, 2019	Past Due		Past Due		Past Due		Past Due		Loans		Loans		Loans
Real estate
Commercial	$	6.8	$	1.2	$	2.0	$	10.0	$	3,443.4	$	12.4	$	3,465.8
Construction:
Land acquisition & development	0.8		0.6		0.2		1.6		305.4		0.4		307.4
Residential	0.9		1.1		—		2.0		257.7		1.3		261.0
Commercial	—		—		—		—		353.3		0.1		353.4
Total construction loans	1.7		1.7		0.2		3.6		916.4		1.8		921.8
Residential	1.6		1.9		—		3.5		1,551.2		4.4		1,559.1
Agricultural	1.2		—		—		1.2		221.6		2.7		225.5
Total real estate loans	11.3		4.8		2.2		18.3		6,132.6		21.3		6,172.2
Consumer:
Indirect consumer	7.6		1.4		0.3		9.3		782.1		1.7		793.1
Other consumer	1.5		0.8		0.1		2.4		198.8		0.5		201.7
Credit card	0.7		0.4		0.6		1.7		79.5		—		81.2
Total consumer loans	9.8		2.6		1.0		13.4		1,060.4		2.2		1,076.0
Commercial	5.0		2.0		1.8		8.8		1,442.9		15.0		1,466.7
Agricultural	2.4		0.9		0.2		3.5		271.6		2.5		277.6
Other, including overdrafts	—		—		—		—		2.7		—		2.7
Loans held for investment	28.5		10.3		5.2		44.0		8,910.2		41.0		8,995.2
Mortgage loans originated for sale	—		—		—		—		64.1		—		64.1
Total loans	$	28.5	$	10.3	$	5.2	$	44.0	$	8,974.3	$	41.0	$	9,059.3

							Total Loans
	30 - 59		60 - 89		> 90		30 or More
	Days		Days		Days		Days		Current		Non-accrual		Total
As of December 31, 2018	Past Due		Past Due		Past Due		Past Due		Loans		Loans		Loans
Real estate
Commercial	$	10.4	$	1.0	$	0.8	$	12.2	$	3,214.0	$	9.2	$	3,235.4
Construction:
Land acquisition & development	1.6		0.1		0.2		1.9		316.0		3.7		321.6
Residential	1.0		0.4		—		1.4		240.4		1.0		242.8
Commercial	0.4		—		—		0.4		273.7		0.2		274.3
Total construction loans	3.0		0.5		0.2		3.7		830.1		4.9		838.7
Residential	8.8		1.1		0.2		10.1		1,525.3		6.6		1,542.0
Agricultural	2.2		—		—		2.2		202.6		12.6		217.4
Total real estate loans	24.4		2.6		1.2		28.2		5,772.0		33.3		5,833.5
Consumer:
Indirect consumer	6.8		2.1		0.4		9.3		776.8		1.7		787.8
Other consumer	1.4		0.5		0.1		2.0		198.1		0.5		200.6
Credit card	0.9		0.4		0.8		2.1		79.7		—		81.8
Total consumer loans	9.1		3.0		1.3		13.4		1,054.6		2.2		1,070.2
Commercial	8.3		1.2		1.3		10.8		1,283.7		15.8		1,310.3
Agricultural	2.1		0.3		—		2.4		249.4		3.0		254.8
Other, including overdrafts	—		—		—		—		1.6		—		1.6
Loans held for investment	43.9		7.1		3.8		54.8		8,361.3		54.3		8,470.4
Mortgage loans originated for sale	—		—		—		—		33.3		—		33.3
Total loans	$	43.9	$	7.1	$	3.8	$	54.8	$	8,394.6	$	54.3	$	8,503.7

Schedule of Acquired Loans with Credit Impairment

Information regarding Northwest loans acquired deemed credit-impaired as of the August 16, 2018 acquisition date are as follows:

Contractually required principal and interest payments	$	27.5
Contractual cash flows not expected to be collected (“non-accretable discount”)	4.4
Cash flows expected to be collected	23.1
Interest component of cash flows expected to be collected (“accretable discount”)	3.2
Fair value of acquired credit-impaired loans	$	19.9

Information regarding IIBK loans acquired deemed credit-impaired as of the April 8, 2019 acquisition date are as follows:

Contractually required principal and interest payments	$	24.1
Contractual cash flows not expected to be collected (“non-accretable discount”)	3.9
Cash flows expected to be collected	20.2
Interest component of cash flows expected to be collected (“accretable discount”)	3.4
Fair value of acquired credit-impaired loans	$	16.8

The following table displays the outstanding unpaid balances and accrual status of loans acquired with credit impairment as of the dates indicated:    

	June 30, 2019		December 31, 2018
Outstanding balance	$	55.2	$	43.4
Carrying value
Loans on accrual status	41.8		30.2
Total carrying value	$	41.8	$	30.2

The following table summarizes changes in the accretable yield for loans acquired deemed credit impaired for the three and six month periods ended June 30, 2019 and 2018:

	Three Months Ended June 30,						Six Months Ended June 30,
	2019			2018			2019			2018
Beginning balance	$	8.4		$	7.2		$	8.9		$	7.3
Acquisitions	3.4			—			3.4			—
Additions	—			0.3			—			0.4
Accretion income	(1.0		)	(0.9		)	(1.7		)	(1.7		)
Reductions due to exit events	(0.8		)	(0.3		)	(1.1		)	(0.5		)
Reclassifications from non-accretable differences	0.8			0.2			1.3			1.0
Ending balance	$	10.8		$	6.5		$	10.8		$	6.5

Schedule of Recorded Investment in Impaired Loans

The following tables present information on the Company’s recorded investment in impaired loans as of the dates indicated:

As of June 30, 2019	Unpaid Total Principal Balance		Recorded Investment With No Allowance		Recorded Investment With Allowance		Total Recorded Investment		Related Allowance
Real estate:
Commercial	$	24.9	$	11.6	$	7.6	$	19.2	$	0.9
Construction:
Land acquisition & development	6.7		0.4		0.1		0.5		—
Residential	1.5		1.3		—		1.3		—
Commercial	0.6		0.1		0.1		0.2		—
Total construction loans	8.8		1.8		0.2		2.0		—
Residential	6.6		3.3		2.0		5.3		0.3
Agricultural	4.8		2.7		1.7		4.4		0.1
Total real estate loans	45.1		19.4		11.5		30.9		1.3
Commercial	24.3		6.2		13.1		19.3		4.6
Agricultural	7.0		1.7		5.0		6.7		0.3
Total	$	76.4	$	27.3	$	29.6	$	56.9	$	6.2

As of December 31, 2018	Unpaid Total Principal Balance		Recorded Investment With No Allowance		Recorded Investment With Allowance		Total Recorded Investment		Related Allowance
Real estate:
Commercial	$	22.2	$	8.6	$	7.7	$	16.3	$	0.7
Construction:
Land acquisition & development	10.0		0.4		3.5		3.9		0.2
Residential	1.1		0.6		0.4		1.0		0.1
Commercial	0.7		0.2		—		0.2		—
Total construction loans	11.8		1.2		3.9		5.1		0.3
Residential	8.8		5.7		2.0		7.7		0.3
Agricultural	12.9		12.5		0.2		12.7		—
Total real estate loans	55.7		28.0		13.8		41.8		1.3
Commercial	24.1		5.5		14.4		19.9		5.2
Agricultural	3.2		2.5		0.6		3.1		0.3
Total	$	83.0	$	36.0	$	28.8	$	64.8	$	6.8

The following table presents the average recorded investment in and income recognized on impaired loans for the periods indicated:

	Three Months Ended June 30,
	2019				2018
	Average Recorded Investment		Income Recognized		Average Recorded Investment		Income Recognized
Real estate	$	33.9	$	—	$	56.4	$	0.1
Commercial	19.6		0.1		20.7		0.1
Agricultural	5.8		—		1.9		—
Total	$	59.3	$	0.1	$	79.0	$	0.2

	Six Months Ended June 30,
	2019				2018
	Average Recorded Investment		Income Recognized		Average Recorded Investment		Income Recognized
Real estate	$	36.4	$	—	$	58.6	$	0.1
Commercial	19.6		0.1		22.5		0.1
Agricultural	4.9		—		1.4		—
Total	$	60.9	$	0.1	$	82.5	$	0.2

Schedule of Troubled Debt Restructurings

The Company had $0.2 million of troubled debt restructurings that occurred during the three and six months ended June 30, 2019.

	Number of Notes	Type of Concession								Principal Balance at Restructure Date
Three Months Ended June 30, 2019		Interest only period		Extension of term or amortization schedule		Interest rate adjustment		Other (1)
Commercial real estate	1	$	—	$	0.2	$	—	$	—	$	0.2
Total loans restructured during period	1	$	—	$	0.2	$	—	$	—	$	0.2
(1) Other includes concessions that reduce or defer payments for a specified period of time and/or concessions that do not fit into other designated categories.
	Number of Notes	Type of Concession								Principal Balance at Restructure Date
Six Months Ended June 30, 2019		Interest only period		Extension of term or amortization schedule		Interest rate adjustment		Other (1)
Commercial real estate	1	$	—	$	0.2	$	—	$	—	$	0.2
Total loans restructured during period	1	$	—	$	0.2	$	—	$	—	$	0.2
(1) Other includes concessions that reduce or defer payments for a specified period of time and/or concessions that do not fit into other designated categories.

Schedule of Recorded Investment in Criticized Loans by Class and Credit Quality Indicator

The following tables present the Company’s recorded investment in criticized loans by class and credit quality indicator based on the most recent analysis performed as of the dates indicated:

As of June 30, 2019	Other Assets Especially Mentioned		Substandard		Doubtful		Total Criticized Loans
Real estate:
Commercial	$	94.0	$	95.8	$	2.0	$	191.8
Construction:
Land acquisition & development	5.2		4.8		0.1		10.1
Residential	1.8		2.3		0.4		4.5
Commercial	3.6		1.6		—		5.2
Total construction loans	10.6		8.7		0.5		19.8
Residential	2.5		7.2		0.5		10.2
Agricultural	14.6		26.6		0.3		41.5
Total real estate loans	121.7		138.3		3.3		263.3
Consumer:
Indirect consumer	0.3		2.5		0.1		2.9
Direct consumer	0.5		1.0		0.1		1.6
Total consumer loans	0.8		3.5		0.2		4.5
Commercial	42.1		49.0		10.2		101.3
Agricultural	17.9		26.2		0.8		44.9
Total	$	182.5	$	217.0	$	14.5	$	414.0

As of December 31, 2018	Other Assets Especially Mentioned		Substandard		Doubtful		Total Criticized Loans
Real estate:
Commercial	$	102.5	$	87.4	$	2.9	$	192.8
Construction:
Land acquisition & development	5.0		7.0		3.3		15.3
Residential	2.8		2.0		0.4		5.2
Commercial	1.7		3.9		—		5.6
Total construction loans	9.5		12.9		3.7		26.1
Residential	3.0		10.8		0.7		14.5
Agricultural	9.0		24.0		0.1		33.1
Total real estate loans	124.0		135.1		7.4		266.5
Consumer:
Indirect consumer	0.7		2.1		0.1		2.9
Direct consumer	0.3		0.8		0.1		1.2
Total consumer loans	1.0		2.9		0.2		4.1
Commercial	39.4		45.8		11.8		97.0
Agricultural	14.4		17.8		1.5		33.7
Total	$	178.8	$	201.6	$	20.9	$	401.3