Loans (Tables)

9 Months Ended

Sep. 30, 2019

Receivables [Abstract]

Schedule of Loans by Class

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

	September 30, 2019		December 31, 2018
Real estate loans:
Commercial	$	3,468.2	$	3,235.4
Construction:
Land acquisition & development	309.6		321.6
Residential	261.8		242.8
Commercial	386.7		274.3
Total construction loans	958.1		838.7
Residential	1,556.3		1,542.0
Agricultural	226.5		217.4
Total real estate loans	6,209.1		5,833.5
Consumer:
Indirect consumer	797.8		787.8
Other consumer	188.8		200.6
Credit card	80.3		81.8
Total consumer loans	1,066.9		1,070.2
Commercial	1,422.6		1,310.3
Agricultural	292.7		254.8
Other, including overdrafts	1.3		1.6
Loans held for investment	8,992.6		8,470.4
Mortgage loans held for sale	108.9		33.3
Total loans	$	9,101.5	$	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 September 30, 2019	Past Due		Past Due		Past Due		Past Due		Loans		Loans		Loans
Real estate
Commercial	$	5.0	$	4.6	$	0.7	$	10.3	$	3,444.3	$	13.6	$	3,468.2
Construction:
Land acquisition & development	1.4		0.1		0.7		2.2		307.0		0.4		309.6
Residential	4.1		—		0.8		4.9		256.5		0.4		261.8
Commercial	1.5		—		—		1.5		384.7		0.5		386.7
Total construction loans	7.0		0.1		1.5		8.6		948.2		1.3		958.1
Residential	2.1		1.3		0.9		4.3		1,548.4		3.6		1,556.3
Agricultural	—		—		0.1		0.1		221.3		5.1		226.5
Total real estate loans	14.1		6.0		3.2		23.3		6,162.2		23.6		6,209.1
Consumer:
Indirect consumer	7.1		2.0		0.6		9.7		786.0		2.1		797.8
Other consumer	1.1		0.6		0.3		2.0		186.3		0.5		188.8
Credit card	0.9		0.4		0.6		1.9		78.4		—		80.3
Total consumer loans	9.1		3.0		1.5		13.6		1,050.7		2.6		1,066.9
Commercial	4.3		2.9		2.1		9.3		1,392.3		21.0		1,422.6
Agricultural	0.6		0.1		0.2		0.9		288.9		2.9		292.7
Other, including overdrafts	—		—		—		—		1.3		—		1.3
Loans held for investment	28.1		12.0		7.0		47.1		8,895.4		50.1		8,992.6
Mortgage loans originated for sale	—		—		—		—		108.9		—		108.9
Total loans	$	28.1	$	12.0	$	7.0	$	47.1	$	9,004.3	$	50.1	$	9,101.5

							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:    

	September 30, 2019		December 31, 2018
Outstanding balance	$	52.8	$	43.4
Carrying value
Loans on accrual status	39.9		30.2
Total carrying value	$	39.9	$	30.2

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

	Three Months Ended September 30,						Nine Months Ended September 30,
	2019			2018			2019			2018
Beginning balance	$	10.8		$	6.5		$	8.9		$	7.3
Acquisitions	—			3.2			3.4			3.2
Additions	—			—			—			0.4
Accretion income	(0.8		)	(0.7		)	(2.5		)	(2.4		)
Reductions due to exit events	(0.2		)	(0.1		)	(1.3		)	(0.6		)
Reclassifications from non-accretable differences	0.2			0.6			1.5			1.6
Ending balance	$	10.0		$	9.5		$	10.0		$	9.5

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 September 30, 2019	Unpaid Total Principal Balance		Recorded Investment With No Allowance		Recorded Investment With Allowance		Total Recorded Investment		Related Allowance
Real estate:
Commercial	$	28.4	$	13.2	$	9.7	$	22.9	$	0.7
Construction:
Land acquisition & development	6.8		0.4		0.2		0.6		—
Residential	0.6		0.4		—		0.4		—
Commercial	1.0		0.5		0.1		0.6		—
Total construction loans	8.4		1.3		0.3		1.6		—
Residential	6.3		3.1		2.0		5.1		0.2
Agricultural	7.6		5.1		2.1		7.2		0.1
Total real estate loans	50.7		22.7		14.1		36.8		1.0
Commercial	30.9		12.6		12.4		25.0		2.9
Agricultural	5.8		2.8		2.5		5.3		0.2
Total	$	87.4	$	38.1	$	29.0	$	67.1	$	4.1

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 September 30,
	2019				2018
	Average Recorded Investment		Income Recognized		Average Recorded Investment		Income Recognized
Real estate	$	33.9	$	—	$	54.5	$	—
Commercial	22.1		—		20.7		—
Agricultural	6.0		—		1.9		—
Total	$	62.0	$	—	$	77.1	$	—

	Nine Months Ended September 30,
	2019				2018
	Average Recorded Investment		Income Recognized		Average Recorded Investment		Income Recognized
Real estate	$	39.2	$	—	$	54.1	$	0.2
Commercial	22.5		0.1		22.0		0.1
Agricultural	4.1		—		1.6		—
Total	$	65.8	$	0.1	$	77.7	$	0.3

Schedule of Troubled Debt Restructurings

The Company had no troubled debt restructurings during the three months ended September 30, 2019 and $0.2 million of troubled debt restructurings that occurred during the nine months ended September 30, 2019.

	Number of Notes	Type of Concession								Principal Balance at Restructure Date
Nine Months Ended September 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 September 30, 2019	Other Assets Especially Mentioned		Substandard		Doubtful		Total Criticized Loans
Real estate:
Commercial	$	90.0	$	96.5	$	1.5	$	188.0
Construction:
Land acquisition & development	5.0		5.0		0.1		10.1
Residential	0.9		1.4		0.4		2.7
Commercial	2.3		1.5		—		3.8
Total construction loans	8.2		7.9		0.5		16.6
Residential	3.3		7.0		0.3		10.6
Agricultural	15.5		25.3		—		40.8
Total real estate loans	117.0		136.7		2.3		256.0
Consumer:
Indirect consumer	0.3		3.2		—		3.5
Direct consumer	0.4		1.0		0.1		1.5
Total consumer loans	0.7		4.2		0.1		5.0
Commercial	40.2		62.5		9.9		112.6
Agricultural	16.6		25.7		0.2		42.5
Total	$	174.5	$	229.1	$	12.5	$	416.1

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