ý | QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
¨ | TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
Washington | 91-1422237 | |
(State or other jurisdiction of incorporation or organization) | (I.R.S. Employer Identification Number) | |
1301 A Street Tacoma, Washington | 98402-2156 | |
(Address of principal executive offices) | (Zip Code) |
Large accelerated filer | ý | Accelerated filer | ¨ | |||
Non-accelerated filer | ¨ | Smaller reporting company | ¨ |
Page | ||
PART I — FINANCIAL INFORMATION | ||
Item 1. | ||
Item 2. | ||
Item 3. | ||
Item 4. | ||
PART II — OTHER INFORMATION | ||
Item 1. | ||
Item 1A. | ||
Item 2. | ||
Item 3. | ||
Item 4. | ||
Item 5. | ||
Item 6. | ||
June 30, 2016 | December 31, 2015 | ||||||||||||
ASSETS | (in thousands) | ||||||||||||
Cash and due from banks | $ | 167,172 | $ | 166,929 | |||||||||
Interest-earning deposits with banks | 11,216 | 8,373 | |||||||||||
Total cash and cash equivalents | 178,388 | 175,302 | |||||||||||
Securities available for sale at fair value (amortized cost of $2,237,264 and $2,157,610, respectively) | 2,279,552 | 2,157,694 | |||||||||||
Federal Home Loan Bank stock at cost | 18,161 | 12,722 | |||||||||||
Loans held for sale | 7,649 | 4,509 | |||||||||||
Loans, net of unearned income of ($37,221) and ($42,373), respectively | 6,107,143 | 5,815,027 | |||||||||||
Less: allowance for loan and lease losses | 69,304 | 68,172 | |||||||||||
Loans, net | 6,037,839 | 5,746,855 | |||||||||||
FDIC loss-sharing asset | 4,266 | 6,568 | |||||||||||
Interest receivable | 29,738 | 27,877 | |||||||||||
Premises and equipment, net | 156,446 | 164,239 | |||||||||||
Other real estate owned | 10,613 | 13,738 | |||||||||||
Goodwill | 382,762 | 382,762 | |||||||||||
Other intangible assets, net | 20,511 | 23,577 | |||||||||||
Other assets | 227,726 | 235,854 | |||||||||||
Total assets | $ | 9,353,651 | $ | 8,951,697 | |||||||||
LIABILITIES AND SHAREHOLDERS’ EQUITY | |||||||||||||
Deposits: | |||||||||||||
Noninterest-bearing | $ | 3,652,951 | $ | 3,507,358 | |||||||||
Interest-bearing | 4,020,262 | 3,931,471 | |||||||||||
Total deposits | 7,673,213 | 7,438,829 | |||||||||||
Federal Home Loan Bank advances | 204,512 | 68,531 | |||||||||||
Securities sold under agreements to repurchase | 89,218 | 99,699 | |||||||||||
Other liabilities | 112,229 | 102,510 | |||||||||||
Total liabilities | 8,079,172 | 7,709,569 | |||||||||||
Commitments and contingent liabilities (Note 10) | |||||||||||||
Shareholders’ equity: | |||||||||||||
June 30, 2016 | December 31, 2015 | ||||||||||||
Preferred stock (no par value) | (in thousands) | ||||||||||||
Authorized shares | 2,000 | 2,000 | |||||||||||
Issued and outstanding | 9 | 9 | 2,217 | 2,217 | |||||||||
Common stock (no par value) | |||||||||||||
Authorized shares | 115,000 | 115,000 | |||||||||||
Issued and outstanding | 58,025 | 57,724 | 992,343 | 990,281 | |||||||||
Retained earnings | 259,108 | 255,925 | |||||||||||
Accumulated other comprehensive income (loss) | 20,811 | (6,295 | ) | ||||||||||
Total shareholders’ equity | 1,274,479 | 1,242,128 | |||||||||||
Total liabilities and shareholders’ equity | $ | 9,353,651 | $ | 8,951,697 |
Three Months Ended | Six Months Ended | |||||||||||||||
June 30, | June 30, | |||||||||||||||
2016 | 2015 (1) | 2016 | 2015 (1) | |||||||||||||
(in thousands except per share amounts) | ||||||||||||||||
Interest Income | ||||||||||||||||
Loans | $ | 71,651 | $ | 71,744 | $ | 141,967 | $ | 142,566 | ||||||||
Taxable securities | 8,829 | 7,260 | 16,846 | 14,786 | ||||||||||||
Tax-exempt securities | 2,795 | 3,010 | 5,598 | 6,052 | ||||||||||||
Deposits in banks | 28 | 26 | 66 | 53 | ||||||||||||
Total interest income | 83,303 | 82,040 | 164,477 | 163,457 | ||||||||||||
Interest Expense | ||||||||||||||||
Deposits | 787 | 740 | 1,529 | 1,488 | ||||||||||||
Federal Home Loan Bank advances | 241 | 154 | 365 | 313 | ||||||||||||
Other borrowings | 135 | 136 | 273 | 282 | ||||||||||||
Total interest expense | 1,163 | 1,030 | 2,167 | 2,083 | ||||||||||||
Net Interest Income | 82,140 | 81,010 | 162,310 | 161,374 | ||||||||||||
Provision for loan and lease losses | 3,640 | 2,202 | 8,894 | 3,411 | ||||||||||||
Net interest income after provision for loan and lease losses | 78,500 | 78,808 | 153,416 | 157,963 | ||||||||||||
Noninterest Income | ||||||||||||||||
Deposit account and treasury management fees (1) | 7,093 | 7,351 | 14,082 | 14,211 | ||||||||||||
Card revenue (1) | 6,051 | 5,702 | 11,703 | 11,065 | ||||||||||||
Financial services and trust revenue (1) | 2,780 | 3,217 | 5,601 | 6,341 | ||||||||||||
Loan revenue (1) | 2,802 | 2,322 | 5,064 | 4,925 | ||||||||||||
Merchant processing revenue | 2,272 | 2,340 | 4,374 | 4,380 | ||||||||||||
Bank owned life insurance | 1,270 | 1,206 | 2,386 | 2,284 | ||||||||||||
Investment securities gains, net | 229 | 343 | 602 | 1,064 | ||||||||||||
Change in FDIC loss-sharing asset | (990 | ) | (1,494 | ) | (2,093 | ) | (1,344 | ) | ||||||||
Other (1) | 433 | 475 | 867 | 1,303 | ||||||||||||
Total noninterest income | 21,940 | 21,462 | 42,586 | 44,229 | ||||||||||||
Noninterest Expense | ||||||||||||||||
Compensation and employee benefits | 37,291 | 38,446 | 73,610 | 77,546 | ||||||||||||
Occupancy | 7,652 | 8,687 | 17,825 | 16,680 | ||||||||||||
Merchant processing expense | 1,118 | 1,079 | 2,151 | 2,056 | ||||||||||||
Advertising and promotion | 1,043 | 1,195 | 1,885 | 2,126 | ||||||||||||
Data processing | 3,929 | 4,242 | 8,075 | 9,226 | ||||||||||||
Legal and professional fees | 1,777 | 2,847 | 3,102 | 5,354 | ||||||||||||
Taxes, licenses and fees | 1,298 | 1,427 | 2,588 | 2,659 | ||||||||||||
Regulatory premiums | 1,068 | 1,321 | 2,209 | 2,542 | ||||||||||||
Net cost (benefit) of operation of other real estate owned | 84 | (563 | ) | 188 | (1,809 | ) | ||||||||||
Amortization of intangibles | 1,483 | 1,718 | 3,066 | 3,535 | ||||||||||||
Other | 7,047 | 8,072 | 14,165 | 15,290 | ||||||||||||
Total noninterest expense | 63,790 | 68,471 | 128,864 | 135,205 | ||||||||||||
Income before income taxes | 36,650 | 31,799 | 67,138 | 66,987 | ||||||||||||
Income tax provision | 11,245 | 9,853 | 20,474 | 20,680 | ||||||||||||
Net Income | $ | 25,405 | $ | 21,946 | $ | 46,664 | $ | 46,307 | ||||||||
Earnings per common share | ||||||||||||||||
Basic | $ | 0.44 | $ | 0.38 | $ | 0.80 | $ | 0.80 | ||||||||
Diluted | $ | 0.44 | $ | 0.38 | $ | 0.80 | $ | 0.80 | ||||||||
Dividends paid per common share | $ | 0.37 | $ | 0.34 | $ | 0.75 | $ | 0.64 | ||||||||
Weighted average number of common shares outstanding | 57,185 | 57,055 | 57,149 | 56,999 | ||||||||||||
Weighted average number of diluted common shares outstanding | 57,195 | 57,069 | 57,160 | 57,012 |
Three Months Ended | ||||||||
June 30, | ||||||||
2016 | 2015 | |||||||
(in thousands) | ||||||||
Net income | $ | 25,405 | $ | 21,946 | ||||
Other comprehensive income (loss), net of tax: | ||||||||
Unrealized gain (loss) from securities: | ||||||||
Net unrealized holding gain (loss) from available for sale securities arising during the period, net of tax of ($4,844) and $6,457 | 8,508 | (11,341 | ) | |||||
Reclassification adjustment of net gain from sale of available for sale securities included in income, net of tax of $83 and $124 | (146 | ) | (219 | ) | ||||
Net unrealized gain (loss) from securities, net of reclassification adjustment | 8,362 | (11,560 | ) | |||||
Pension plan liability adjustment: | ||||||||
Amortization of unrecognized net actuarial loss included in net periodic pension cost, net of tax of ($61) and ($35) | 106 | 63 | ||||||
Pension plan liability adjustment, net | 106 | 63 | ||||||
Other comprehensive income (loss) | 8,468 | (11,497 | ) | |||||
Total comprehensive income | $ | 33,873 | $ | 10,449 |
Six Months Ended | ||||||||
June 30, | ||||||||
2016 | 2015 | |||||||
(in thousands) | ||||||||
Net income | $ | 46,664 | $ | 46,307 | ||||
Other comprehensive income (loss), net of tax: | ||||||||
Unrealized gain (loss) from securities: | ||||||||
Net unrealized holding gain (loss) from available for sale securities arising during the period, net of tax of ($15,530) and $1,119 | 27,278 | (1,965 | ) | |||||
Reclassification adjustment of net gain from sale of available for sale securities included in income, net of tax of $218 and $386 | (384 | ) | (678 | ) | ||||
Net unrealized gain (loss) from securities, net of reclassification adjustment | 26,894 | (2,643 | ) | |||||
Pension plan liability adjustment: | ||||||||
Net unrealized loss from unfunded defined benefit plan liability arising during the period, net of tax of $0 and $159 | — | (280 | ) | |||||
Amortization of unrecognized net actuarial loss included in net periodic pension cost, net of tax of ($122) and ($51) | 212 | 91 | ||||||
Pension plan liability adjustment, net | 212 | (189 | ) | |||||
Other comprehensive income (loss) | 27,106 | (2,832 | ) | |||||
Total comprehensive income | $ | 73,770 | $ | 43,475 |
Preferred Stock | Common Stock | Retained Earnings | Accumulated Other Comprehensive Income (Loss) | Total Shareholders’ Equity | ||||||||||||||||||||||
Number of Shares | Amount | Number of Shares | Amount | |||||||||||||||||||||||
(in thousands) | ||||||||||||||||||||||||||
Balance at January 1, 2016 | 9 | $ | 2,217 | 57,724 | $ | 990,281 | $ | 255,925 | $ | (6,295 | ) | $ | 1,242,128 | |||||||||||||
Net income | — | — | — | — | 46,664 | — | 46,664 | |||||||||||||||||||
Other comprehensive income | — | — | — | — | — | 27,106 | 27,106 | |||||||||||||||||||
Issuance of common stock - stock option and other plans | — | — | 21 | 603 | — | — | 603 | |||||||||||||||||||
Issuance of common stock - restricted stock awards, net of canceled awards | — | — | 317 | 2,551 | — | — | 2,551 | |||||||||||||||||||
Purchase and retirement of common stock | — | — | (37 | ) | (1,092 | ) | — | — | (1,092 | ) | ||||||||||||||||
Preferred dividends | — | — | — | — | (77 | ) | — | (77 | ) | |||||||||||||||||
Cash dividends paid on common stock | — | — | — | — | (43,404 | ) | — | (43,404 | ) | |||||||||||||||||
Balance at June 30, 2016 | 9 | $ | 2,217 | 58,025 | $ | 992,343 | $ | 259,108 | $ | 20,811 | $ | 1,274,479 | ||||||||||||||
Balance at January 1, 2015 | 9 | $ | 2,217 | 57,437 | $ | 985,839 | $ | 234,498 | $ | 5,621 | $ | 1,228,175 | ||||||||||||||
Net income | — | — | — | — | 46,307 | — | 46,307 | |||||||||||||||||||
Other comprehensive loss | — | — | — | — | — | (2,832 | ) | (2,832 | ) | |||||||||||||||||
Issuance of common stock - stock option and other plans | — | — | 21 | 519 | — | — | 519 | |||||||||||||||||||
Issuance of common stock - restricted stock awards, net of canceled awards | — | — | 282 | 1,836 | — | — | 1,836 | |||||||||||||||||||
Purchase and retirement of common stock | — | — | (31 | ) | (874 | ) | — | — | (874 | ) | ||||||||||||||||
Preferred dividends | — | — | — | — | (66 | ) | — | (66 | ) | |||||||||||||||||
Cash dividends paid on common stock | — | — | — | — | (36,851 | ) | — | (36,851 | ) | |||||||||||||||||
Balance at June 30, 2015 | 9 | $ | 2,217 | 57,709 | $ | 987,320 | $ | 243,888 | $ | 2,789 | $ | 1,236,214 |
CONSOLIDATED STATEMENTS OF CASH FLOWS Columbia Banking System, Inc. (Unaudited) | ||||||||
Six Months Ended June 30, | ||||||||
2016 | 2015 (1) | |||||||
(in thousands) | ||||||||
Cash Flows From Operating Activities | ||||||||
Net income | $ | 46,664 | $ | 46,307 | ||||
Adjustments to reconcile net income to net cash provided by operating activities | ||||||||
Provision for loan and lease losses | 8,894 | 3,411 | ||||||
Stock-based compensation expense | 2,551 | 1,836 | ||||||
Depreciation, amortization and accretion | 18,898 | 14,630 | ||||||
Investment securities gain, net | (602 | ) | (1,064 | ) | ||||
Net realized (gain) loss on sale of other assets | 170 | (289 | ) | |||||
Net realized (gain) loss on sale and valuation adjustments of other real estate owned (1) | 160 | (2,199 | ) | |||||
Originations of loans held for sale (1) | (46,705 | ) | (32,281 | ) | ||||
Proceeds from sales of loans held for sale (1) | 43,565 | 29,177 | ||||||
Net change in: | ||||||||
Interest receivable | (1,861 | ) | 319 | |||||
Interest payable | (74 | ) | (105 | ) | ||||
Other assets | (7,818 | ) | 1,579 | |||||
Other liabilities | 9,809 | 3,292 | ||||||
Net cash provided by operating activities | 73,651 | 64,613 | ||||||
Cash Flows From Investing Activities | ||||||||
Loans originated and acquired, net of principal collected | (298,259 | ) | (175,260 | ) | ||||
Purchases of: | ||||||||
Securities available for sale | (296,920 | ) | (37,070 | ) | ||||
Premises and equipment | (1,199 | ) | (4,805 | ) | ||||
Federal Home Loan Bank stock | (42,400 | ) | (1,440 | ) | ||||
Proceeds from: | ||||||||
FDIC reimbursement on loss-sharing asset | 668 | 4,009 | ||||||
Sales of securities available for sale | 83,410 | 72,166 | ||||||
Principal repayments and maturities of securities available for sale | 123,817 | 135,102 | ||||||
Sales of premises and equipment and loans held for investment (1) | 4,631 | 7,869 | ||||||
Redemption of Federal Home Loan Bank stock (1) | 36,961 | 23,002 | ||||||
Sales of other real estate and other personal property owned | 3,276 | 11,553 | ||||||
Payments to FDIC related to loss-sharing asset | (625 | ) | (487 | ) | ||||
Net cash provided by (used in) investing activities | (386,640 | ) | 34,639 | |||||
Cash Flows From Financing Activities | ||||||||
Net increase in deposits | 234,526 | 119,651 | ||||||
Net decrease in sweep repurchase agreements | (10,481 | ) | (12,850 | ) | ||||
Proceeds from: | ||||||||
Federal Home Loan Bank advances | 962,000 | 1,319,000 | ||||||
Federal Reserve Bank borrowings | 10 | 1,010 | ||||||
Exercise of stock options | 603 | 519 | ||||||
Payments for: | ||||||||
Repayment of Federal Home Loan Bank advances | (826,000 | ) | (1,490,000 | ) | ||||
Repayment of Federal Reserve Bank borrowings | (10 | ) | (1,010 | ) | ||||
Common stock dividends | (43,404 | ) | (36,851 | ) | ||||
Preferred stock dividends | (77 | ) | (66 | ) | ||||
Repayment of other borrowings | — | (8,248 | ) | |||||
Purchase and retirement of common stock | (1,092 | ) | (874 | ) | ||||
Net cash provided by (used in) financing activities | 316,075 | (109,719 | ) | |||||
Increase (decrease) in cash and cash equivalents | 3,086 | (10,467 | ) | |||||
Cash and cash equivalents at beginning of period | 175,302 | 188,170 | ||||||
Cash and cash equivalents at end of period | $ | 178,388 | $ | 177,703 | ||||
CONSOLIDATED STATEMENTS OF CASH FLOWS, Continued Columbia Banking System, Inc. (Unaudited) | ||||||||
Six Months Ended June 30, | ||||||||
2016 | 2015 (1) | |||||||
(in thousands) | ||||||||
Supplemental Information: | ||||||||
Cash paid during the period for: | ||||||||
Cash paid for interest | $ | 2,241 | $ | 2,188 | ||||
Cash paid for income tax | $ | 11,130 | $ | 7,281 | ||||
Non-cash investing and financing activities | ||||||||
Loans transferred to other real estate owned | $ | 311 | $ | 7,836 |
1. | Basis of Presentation and Significant Accounting Policies |
2. | Accounting Pronouncements Recently Issued |
Amortized Cost | Gross Unrealized Gains | Gross Unrealized Losses | Fair Value | |||||||||||||
(in thousands) | ||||||||||||||||
June 30, 2016 | ||||||||||||||||
U.S. government agency and government-sponsored enterprise mortgage-backed securities and collateralized mortgage obligations | $ | 1,403,591 | $ | 20,196 | $ | (2,101 | ) | $ | 1,421,686 | |||||||
State and municipal securities | 500,618 | 17,913 | (166 | ) | 518,365 | |||||||||||
U.S. government agency and government-sponsored enterprise securities | 327,223 | 6,520 | — | 333,743 | ||||||||||||
U.S. government securities | 548 | 1 | — | 549 | ||||||||||||
Other securities | 5,284 | 64 | (139 | ) | 5,209 | |||||||||||
Total | $ | 2,237,264 | $ | 44,694 | $ | (2,406 | ) | $ | 2,279,552 | |||||||
December 31, 2015 | ||||||||||||||||
U.S. government agency and government-sponsored enterprise mortgage-backed securities and collateralized mortgage obligations | $ | 1,296,955 | $ | 4,525 | $ | (14,991 | ) | $ | 1,286,489 | |||||||
State and municipal securities | 480,417 | 12,690 | (938 | ) | 492,169 | |||||||||||
U.S. government agency and government-sponsored enterprise securities | 354,515 | 1,113 | (1,846 | ) | 353,782 | |||||||||||
U.S. government securities | 20,439 | — | (302 | ) | 20,137 | |||||||||||
Other securities | 5,284 | 24 | (191 | ) | 5,117 | |||||||||||
Total | $ | 2,157,610 | $ | 18,352 | $ | (18,268 | ) | $ | 2,157,694 |
Three Months Ended | Six Months Ended | |||||||||||||||
June 30, | June 30, | |||||||||||||||
2016 | 2015 | 2016 | 2015 | |||||||||||||
(in thousands) | ||||||||||||||||
Gross realized gains | $ | 229 | $ | 343 | $ | 602 | $ | 1,073 | ||||||||
Gross realized losses | — | — | — | (9 | ) | |||||||||||
Net realized gains | $ | 229 | $ | 343 | $ | 602 | $ | 1,064 |
June 30, 2016 | ||||||||
Amortized Cost | Fair Value | |||||||
(in thousands) | ||||||||
Due within one year | $ | 26,674 | $ | 26,827 | ||||
Due after one year through five years | 462,009 | 471,463 | ||||||
Due after five years through ten years | 698,729 | 716,521 | ||||||
Due after ten years | 1,044,568 | 1,059,532 | ||||||
Other securities with no stated maturity | 5,284 | 5,209 | ||||||
Total investment securities available-for-sale | $ | 2,237,264 | $ | 2,279,552 |
June 30, 2016 | ||||
(in thousands) | ||||
Washington and Oregon State to secure public deposits | $ | 396,321 | ||
Federal Reserve Bank to secure borrowings | 44,079 | |||
Other securities pledged | 154,109 | |||
Total securities pledged as collateral | $ | 594,509 |
Less than 12 Months | 12 Months or More | Total | ||||||||||||||||||||||
Fair Value | Unrealized Losses | Fair Value | Unrealized Losses | Fair Value | Unrealized Losses | |||||||||||||||||||
(in thousands) | ||||||||||||||||||||||||
June 30, 2016 | ||||||||||||||||||||||||
U.S. government agency and government-sponsored enterprise mortgage-backed securities and collateralized mortgage obligations | $ | 51,222 | $ | (264 | ) | $ | 170,543 | $ | (1,837 | ) | $ | 221,765 | $ | (2,101 | ) | |||||||||
State and municipal securities | 17,512 | (126 | ) | 6,077 | (40 | ) | 23,589 | (166 | ) | |||||||||||||||
Other securities | — | — | 2,816 | (139 | ) | 2,816 | (139 | ) | ||||||||||||||||
Total | $ | 68,734 | $ | (390 | ) | $ | 179,436 | $ | (2,016 | ) | $ | 248,170 | $ | (2,406 | ) | |||||||||
December 31, 2015 | ||||||||||||||||||||||||
U.S. government agency and government-sponsored enterprise mortgage-backed securities and collateralized mortgage obligations | $ | 664,509 | $ | (7,610 | ) | $ | 214,325 | $ | (7,381 | ) | $ | 878,834 | $ | (14,991 | ) | |||||||||
State and municipal securities | 48,261 | (358 | ) | 31,383 | (580 | ) | 79,644 | (938 | ) | |||||||||||||||
U.S. government agency and government-sponsored enterprise securities | 193,400 | (1,128 | ) | 40,034 | (718 | ) | 233,434 | (1,846 | ) | |||||||||||||||
U.S. government securities | 10,343 | (136 | ) | 9,794 | (166 | ) | 20,137 | (302 | ) | |||||||||||||||
Other securities | 2,300 | (15 | ) | 2,780 | (176 | ) | 5,080 | (191 | ) | |||||||||||||||
Total | $ | 918,813 | $ | (9,247 | ) | $ | 298,316 | $ | (9,021 | ) | $ | 1,217,129 | $ | (18,268 | ) |
June 30, 2016 | December 31, 2015 | |||||||||||||||||||||||
Loans, excluding PCI loans | PCI Loans | Total | Loans, excluding PCI loans | PCI Loans | Total | |||||||||||||||||||
(in thousands) | ||||||||||||||||||||||||
Commercial business | $ | 2,518,682 | $ | 25,545 | $ | 2,544,227 | $ | 2,362,575 | $ | 34,848 | $ | 2,397,423 | ||||||||||||
Real estate: | ||||||||||||||||||||||||
One-to-four family residential | 172,957 | 20,755 | 193,712 | 176,295 | 23,938 | 200,233 | ||||||||||||||||||
Commercial and multifamily residential | 2,651,476 | 94,564 | 2,746,040 | 2,491,736 | 99,389 | 2,591,125 | ||||||||||||||||||
Total real estate | 2,824,433 | 115,319 | 2,939,752 | 2,668,031 | 123,327 | 2,791,358 | ||||||||||||||||||
Real estate construction: | ||||||||||||||||||||||||
One-to-four family residential | 129,195 | 1,642 | 130,837 | 135,874 | 2,278 | 138,152 | ||||||||||||||||||
Commercial and multifamily residential | 185,315 | 1,602 | 186,917 | 167,413 | 1,630 | 169,043 | ||||||||||||||||||
Total real estate construction | 314,510 | 3,244 | 317,754 | 303,287 | 3,908 | 307,195 | ||||||||||||||||||
Consumer | 325,632 | 16,999 | 342,631 | 342,601 | 18,823 | 361,424 | ||||||||||||||||||
Less: Net unearned income | (37,221 | ) | — | (37,221 | ) | (42,373 | ) | — | (42,373 | ) | ||||||||||||||
Total loans, net of unearned income | 5,946,036 | 161,107 | 6,107,143 | 5,634,121 | 180,906 | 5,815,027 | ||||||||||||||||||
Less: Allowance for loan and lease losses | (57,523 | ) | (11,781 | ) | (69,304 | ) | (54,446 | ) | (13,726 | ) | (68,172 | ) | ||||||||||||
Total loans, net | $ | 5,888,513 | $ | 149,326 | $ | 6,037,839 | $ | 5,579,675 | $ | 167,180 | $ | 5,746,855 | ||||||||||||
Loans held for sale | $ | 7,649 | $ | — | $ | 7,649 | $ | 4,509 | $ | — | $ | 4,509 |
June 30, 2016 | December 31, 2015 | |||||||||||||||
Recorded Investment Nonaccrual Loans | Unpaid Principal Balance Nonaccrual Loans | Recorded Investment Nonaccrual Loans | Unpaid Principal Balance Nonaccrual Loans | |||||||||||||
(in thousands) | ||||||||||||||||
Commercial business: | ||||||||||||||||
Secured | $ | 9,478 | $ | 18,488 | $ | 9,395 | $ | 15,688 | ||||||||
Unsecured | 70 | 300 | 42 | 256 | ||||||||||||
Real estate: | ||||||||||||||||
One-to-four family residential | 957 | 2,006 | 820 | 1,866 | ||||||||||||
Commercial & multifamily residential: | ||||||||||||||||
Commercial land | 1,135 | 1,123 | 349 | 332 | ||||||||||||
Income property | 880 | 1,010 | 2,843 | 3,124 | ||||||||||||
Owner occupied | 5,819 | 8,331 | 6,321 | 8,943 | ||||||||||||
Real estate construction: | ||||||||||||||||
One-to-four family residential: | ||||||||||||||||
Land and acquisition | — | — | 362 | 385 | ||||||||||||
Residential construction | 562 | 562 | 566 | 679 | ||||||||||||
Consumer | 4,014 | 4,251 | 766 | 990 | ||||||||||||
Total | $ | 22,915 | $ | 36,071 | $ | 21,464 | $ | 32,263 |
Current Loans | 30 - 59 Days Past Due | 60 - 89 Days Past Due | Greater than 90 Days Past Due | Total Past Due | Nonaccrual Loans | Total Loans | ||||||||||||||||||||||
June 30, 2016 | (in thousands) | |||||||||||||||||||||||||||
Commercial business: | ||||||||||||||||||||||||||||
Secured | $ | 2,403,126 | $ | 3,539 | $ | 1,278 | $ | — | $ | 4,817 | $ | 9,478 | $ | 2,417,421 | ||||||||||||||
Unsecured | 96,789 | 31 | — | — | 31 | 70 | 96,890 | |||||||||||||||||||||
Real estate: | ||||||||||||||||||||||||||||
One-to-four family residential | 166,399 | 2,781 | 35 | — | 2,816 | 957 | 170,172 | |||||||||||||||||||||
Commercial & multifamily residential: | ||||||||||||||||||||||||||||
Commercial land | 233,072 | — | — | — | — | 1,135 | 234,207 | |||||||||||||||||||||
Income property | 1,365,929 | 5,298 | — | — | 5,298 | 880 | 1,372,107 | |||||||||||||||||||||
Owner occupied | 1,017,728 | 525 | 374 | — | 899 | 5,819 | 1,024,446 | |||||||||||||||||||||
Real estate construction: | ||||||||||||||||||||||||||||
One-to-four family residential: | ||||||||||||||||||||||||||||
Land and acquisition | 10,708 | — | — | — | — | — | 10,708 | |||||||||||||||||||||
Residential construction | 117,302 | — | — | — | — | 562 | 117,864 | |||||||||||||||||||||
Commercial & multifamily residential: | ||||||||||||||||||||||||||||
Income property | 78,867 | — | — | — | — | — | 78,867 | |||||||||||||||||||||
Owner occupied | 104,896 | — | — | — | — | — | 104,896 | |||||||||||||||||||||
Consumer | 311,792 | 893 | 1,759 | — | 2,652 | 4,014 | 318,458 | |||||||||||||||||||||
Total | $ | 5,906,608 | $ | 13,067 | $ | 3,446 | $ | — | $ | 16,513 | $ | 22,915 | $ | 5,946,036 | ||||||||||||||
Current Loans | 30 - 59 Days Past Due | 60 - 89 Days Past Due | Greater than 90 Days Past Due | Total Past Due | Nonaccrual Loans | Total Loans | ||||||||||||||||||||||
December 31, 2015 | (in thousands) | |||||||||||||||||||||||||||
Commercial business: | ||||||||||||||||||||||||||||
Secured | $ | 2,241,069 | $ | 11,611 | $ | 617 | $ | — | $ | 12,228 | $ | 9,395 | $ | 2,262,692 | ||||||||||||||
Unsecured | 94,867 | 39 | — | — | 39 | 42 | 94,948 | |||||||||||||||||||||
Real estate: | ||||||||||||||||||||||||||||
One-to-four family residential | 170,913 | 1,637 | 66 | — | 1,703 | 820 | 173,436 | |||||||||||||||||||||
Commercial & multifamily residential: | ||||||||||||||||||||||||||||
Commercial land | 212,740 | 69 | — | — | 69 | 349 | 213,158 | |||||||||||||||||||||
Income property | 1,305,502 | 1,750 | 684 | — | 2,434 | 2,843 | 1,310,779 | |||||||||||||||||||||
Owner occupied | 939,396 | 599 | — | — | 599 | 6,321 | 946,316 | |||||||||||||||||||||
Real estate construction: | ||||||||||||||||||||||||||||
One-to-four family residential: | ||||||||||||||||||||||||||||
Land and acquisition | 14,388 | — | — | — | — | 362 | 14,750 | |||||||||||||||||||||
Residential construction | 119,809 | — | — | — | — | 566 | 120,375 | |||||||||||||||||||||
Commercial & multifamily residential: | ||||||||||||||||||||||||||||
Income property | 83,634 | — | — | — | — | — | 83,634 | |||||||||||||||||||||
Owner occupied | 81,671 | — | — | — | — | — | 81,671 | |||||||||||||||||||||
Consumer | 328,219 | 2,597 | 780 | — | 3,377 | 766 | 332,362 | |||||||||||||||||||||
Total | $ | 5,592,208 | $ | 18,302 | $ | 2,147 | $ | — | $ | 20,449 | $ | 21,464 | $ | 5,634,121 |
Recorded Investment of Loans Collectively Measured for Contingency Provision | Recorded Investment of Loans Individually Measured for Specific Impairment | Impaired Loans With Recorded Allowance | Impaired Loans Without Recorded Allowance | |||||||||||||||||||||||||
Recorded Investment | Unpaid Principal Balance | Related Allowance | Recorded Investment | Unpaid Principal Balance | ||||||||||||||||||||||||
June 30, 2016 | (in thousands) | |||||||||||||||||||||||||||
Commercial business: | ||||||||||||||||||||||||||||
Secured | $ | 2,410,385 | $ | 7,036 | $ | 3,320 | $ | 6,570 | $ | 2,486 | $ | 3,716 | $ | 5,337 | ||||||||||||||
Unsecured | 96,890 | — | — | — | — | — | — | |||||||||||||||||||||
Real estate: | ||||||||||||||||||||||||||||
One-to-four family residential | 169,484 | 688 | 89 | 108 | 1 | 599 | 1,011 | |||||||||||||||||||||
Commercial & multifamily residential: | ||||||||||||||||||||||||||||
Commercial land | 233,499 | 708 | — | — | — | 708 | 687 | |||||||||||||||||||||
Income property | 1,370,662 | 1,445 | 636 | 687 | 100 | 809 | 918 | |||||||||||||||||||||
Owner occupied | 1,019,219 | 5,227 | — | — | — | 5,227 | 7,664 | |||||||||||||||||||||
Real estate construction: | ||||||||||||||||||||||||||||
One-to-four family residential: | ||||||||||||||||||||||||||||
Land and acquisition | 10,605 | 103 | — | — | — | 103 | 103 | |||||||||||||||||||||
Residential construction | 117,302 | 562 | — | — | — | 562 | 562 | |||||||||||||||||||||
Commercial & multifamily residential: | ||||||||||||||||||||||||||||
Income property | 78,867 | — | — | — | — | — | — | |||||||||||||||||||||
Owner occupied | 104,896 | — | — | — | — | — | — | |||||||||||||||||||||
Consumer | 315,363 | 3,095 | 1,860 | 1,870 | 118 | 1,235 | 1,319 | |||||||||||||||||||||
Total | $ | 5,927,172 | $ | 18,864 | $ | 5,905 | $ | 9,235 | $ | 2,705 | $ | 12,959 | $ | 17,601 | ||||||||||||||
Recorded Investment of Loans Collectively Measured for Contingency Provision | Recorded Investment of Loans Individually Measured for Specific Impairment | Impaired Loans With Recorded Allowance | Impaired Loans Without Recorded Allowance | |||||||||||||||||||||||||
Recorded Investment | Unpaid Principal Balance | Related Allowance | Recorded Investment | Unpaid Principal Balance | ||||||||||||||||||||||||
December 31, 2015 | (in thousands) | |||||||||||||||||||||||||||
Commercial business: | ||||||||||||||||||||||||||||
Secured | $ | 2,257,168 | $ | 5,524 | $ | 690 | $ | 718 | $ | 321 | $ | 4,834 | $ | 6,455 | ||||||||||||||
Unsecured | 94,948 | — | — | — | — | — | — | |||||||||||||||||||||
Real estate: | ||||||||||||||||||||||||||||
One-to-four family residential | 172,150 | 1,286 | 314 | 339 | 314 | 972 | 1,397 | |||||||||||||||||||||
Commercial & multifamily residential: | ||||||||||||||||||||||||||||
Commercial land | 213,158 | — | — | — | — | — | — | |||||||||||||||||||||
Income property | 1,308,673 | 2,106 | — | — | — | 2,106 | 2,311 | |||||||||||||||||||||
Owner occupied | 940,261 | 6,055 | — | — | — | 6,055 | 8,528 | |||||||||||||||||||||
Real estate construction: | ||||||||||||||||||||||||||||
One-to-four family residential: | ||||||||||||||||||||||||||||
Land and acquisition | 14,283 | 467 | — | — | — | 467 | 490 | |||||||||||||||||||||
Residential construction | 119,813 | 562 | 335 | 335 | 3 | 227 | 227 | |||||||||||||||||||||
Commercial & multifamily residential: | ||||||||||||||||||||||||||||
Income property | 83,634 | — | — | — | — | — | — | |||||||||||||||||||||
Owner occupied | 81,671 | — | — | — | — | — | — | |||||||||||||||||||||
Consumer | 332,282 | 80 | 15 | 15 | 15 | 65 | 139 | |||||||||||||||||||||
Total | $ | 5,618,041 | $ | 16,080 | $ | 1,354 | $ | 1,407 | $ | 653 | $ | 14,726 | $ | 19,547 |
Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||||||||||||||||||
2016 | 2015 | 2016 | 2015 | |||||||||||||||||||||||||||||
Average Recorded Investment Impaired Loans | Interest Recognized on Impaired Loans | Average Recorded Investment Impaired Loans | Interest Recognized on Impaired Loans | Average Recorded Investment Impaired Loans | Interest Recognized on Impaired Loans | Average Recorded Investment Impaired Loans | Interest Recognized on Impaired Loans | |||||||||||||||||||||||||
(in thousands) | ||||||||||||||||||||||||||||||||
Commercial business: | ||||||||||||||||||||||||||||||||
Secured | $ | 12,859 | $ | 20 | $ | 9,231 | $ | 8 | $ | 10,414 | $ | 33 | $ | 9,662 | $ | 15 | ||||||||||||||||
Unsecured | — | — | — | — | — | — | 1 | — | ||||||||||||||||||||||||
Real estate: | ||||||||||||||||||||||||||||||||
One-to-four family residential | 676 | (3 | ) | 4,180 | 11 | 879 | 3 | 3,502 | 24 | |||||||||||||||||||||||
Commercial & multifamily residential: | ||||||||||||||||||||||||||||||||
Commercial land | 354 | — | 235 | — | 236 | — | 157 | — | ||||||||||||||||||||||||
Income property | 1,749 | 10 | 1,966 | 23 | 1,868 | 14 | 3,427 | 33 | ||||||||||||||||||||||||
Owner occupied | 5,102 | — | 6,567 | 235 | 5,420 | — | 7,326 | 468 | ||||||||||||||||||||||||
Real estate construction: | ||||||||||||||||||||||||||||||||
One-to-four family residential: | ||||||||||||||||||||||||||||||||
Land and acquisition | 206 | 1 | 974 | 2 | 293 | 3 | 686 | 3 | ||||||||||||||||||||||||
Residential construction | 562 | — | 893 | — | 562 | — | 595 | — | ||||||||||||||||||||||||
Consumer | 2,332 | 20 | 355 | 1 | 1,581 | 21 | 278 | 2 | ||||||||||||||||||||||||
Total | $ | 23,840 | $ | 48 | $ | 24,401 | $ | 280 | $ | 21,253 | $ | 74 | $ | 25,634 | $ | 545 |
Three months ended June 30, 2016 | Three months ended June 30, 2015 | |||||||||||||||||||||
Number of TDR Modifications | Pre-Modification Outstanding Recorded Investment | Post-Modification Outstanding Recorded Investment | Number of TDR Modifications | Pre-Modification Outstanding Recorded Investment | Post-Modification Outstanding Recorded Investment | |||||||||||||||||
(dollars in thousands) | ||||||||||||||||||||||
Commercial business: | ||||||||||||||||||||||
Secured | 2 | $ | 293 | $ | 293 | — | $ | — | $ | — | ||||||||||||
Real estate: | ||||||||||||||||||||||
One-to-four family residential | — | — | — | 1 | 30 | 30 | ||||||||||||||||
Commercial and multifamily residential: | ||||||||||||||||||||||
Owner occupied | 1 | 30 | 30 | — | — | — | ||||||||||||||||
Consumer | 14 | 2,214 | 2,214 | — | — | — | ||||||||||||||||
Total | 17 | $ | 2,537 | $ | 2,537 | 1 | $ | 30 | $ | 30 |
Six months ended June 30, 2016 | Six months ended June 30, 2015 | |||||||||||||||||||||
Number of TDR Modifications | Pre-Modification Outstanding Recorded Investment | Post-Modification Outstanding Recorded Investment | Number of TDR Modifications | Pre-Modification Outstanding Recorded Investment | Post-Modification Outstanding Recorded Investment | |||||||||||||||||
(dollars in thousands) | ||||||||||||||||||||||
Commercial business: | ||||||||||||||||||||||
Secured | 5 | $ | 1,663 | $ | 1,663 | — | $ | — | $ | — | ||||||||||||
Real estate: | ||||||||||||||||||||||
One-to-four family residential | — | — | — | 1 | 30 | 30 | ||||||||||||||||
Commercial and multifamily residential: | ||||||||||||||||||||||
Owner occupied | 2 | 280 | 280 | — | — | — | ||||||||||||||||
Consumer | 18 | 2,711 | 2,711 | — | — | — | ||||||||||||||||
Total | 25 | $ | 4,654 | $ | 4,654 | 1 | $ | 30 | $ | 30 |
June 30, 2016 | December 31, 2015 | |||||||
(in thousands) | ||||||||
Commercial business | $ | 28,449 | $ | 38,784 | ||||
Real estate: | ||||||||
One-to-four family residential | 23,708 | 27,195 | ||||||
Commercial and multifamily residential | 101,201 | 106,308 | ||||||
Total real estate | 124,909 | 133,503 | ||||||
Real estate construction: | ||||||||
One-to-four family residential | 1,660 | 2,326 | ||||||
Commercial and multifamily residential | 1,783 | 1,834 | ||||||
Total real estate construction | 3,443 | 4,160 | ||||||
Consumer | 18,797 | 20,903 | ||||||
Subtotal of PCI loans | 175,598 | 197,350 | ||||||
Less: | ||||||||
Valuation discount resulting from acquisition accounting | 14,491 | 16,444 | ||||||
Allowance for loan losses | 11,781 | 13,726 | ||||||
PCI loans, net of allowance for loan losses | $ | 149,326 | $ | 167,180 |
Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||
2016 | 2015 | 2016 | 2015 | |||||||||||||
(in thousands) | ||||||||||||||||
Balance at beginning of period | $ | 56,607 | $ | 68,726 | $ | 58,981 | $ | 73,849 | ||||||||
Accretion | (3,774 | ) | (5,737 | ) | (8,003 | ) | (12,056 | ) | ||||||||
Disposals | 149 | (959 | ) | 1,910 | (2,052 | ) | ||||||||||
Reclassifications from (to) nonaccretable difference | (73 | ) | 5,253 | 21 | 7,542 | |||||||||||
Balance at end of period | $ | 52,909 | $ | 67,283 | $ | 52,909 | $ | 67,283 |
1. | Loans collectively evaluated for impairment under the Contingencies topic of the FASB ASC. |
2. | Loans individually determined to be impaired in accordance with the Receivables topic of the FASB ASC. |
3. | Purchased credit impaired loans accounted for under the Receivables topic of the FASB ASC. |
Beginning Balance | Charge-offs | Recoveries | Provision (Recovery) | Ending Balance | Specific Reserve | General Allocation | ||||||||||||||||||||||
Three months ended June 30, 2016 | (in thousands) | |||||||||||||||||||||||||||
Commercial business: | ||||||||||||||||||||||||||||
Secured | $ | 32,114 | $ | (2,900 | ) | $ | 728 | $ | 1,866 | $ | 31,808 | $ | 2,486 | $ | 29,322 | |||||||||||||
Unsecured | 1,300 | (41 | ) | 25 | (19 | ) | 1,265 | — | 1,265 | |||||||||||||||||||
Real estate: | ||||||||||||||||||||||||||||
One-to-four family residential | 654 | (35 | ) | 20 | 35 | 674 | 1 | 673 | ||||||||||||||||||||
Commercial & multifamily residential: | ||||||||||||||||||||||||||||
Commercial land | 1,262 | (26 | ) | 2 | 184 | 1,422 | — | 1,422 | ||||||||||||||||||||
Income property | 7,402 | — | 120 | 524 | 8,046 | 100 | 7,946 | |||||||||||||||||||||
Owner occupied | 6,086 | — | 8 | 242 | 6,336 | — | 6,336 | |||||||||||||||||||||
Real estate construction: | ||||||||||||||||||||||||||||
One-to-four family residential: | ||||||||||||||||||||||||||||
Land and acquisition | 640 | — | 2 | (55 | ) | 587 | — | 587 | ||||||||||||||||||||
Residential construction | 1,449 | — | 3 | (76 | ) | 1,376 | — | 1,376 | ||||||||||||||||||||
Commercial & multifamily residential: | ||||||||||||||||||||||||||||
Income property | 715 | — | 1 | 188 | 904 | — | 904 | |||||||||||||||||||||
Owner occupied | 1,210 | — | — | 174 | 1,384 | — | 1,384 | |||||||||||||||||||||
Consumer | 3,368 | (334 | ) | 201 | 325 | 3,560 | 118 | 3,442 | ||||||||||||||||||||
Purchased credit impaired | 13,064 | (2,898 | ) | 1,524 | 91 | 11,781 | — | 11,781 | ||||||||||||||||||||
Unallocated | — | — | — | 161 | 161 | — | 161 | |||||||||||||||||||||
Total | $ | 69,264 | $ | (6,234 | ) | $ | 2,634 | $ | 3,640 | $ | 69,304 | $ | 2,705 | $ | 66,599 | |||||||||||||
Beginning Balance | Charge-offs | Recoveries | Provision (Recovery) | Ending Balance | Specific Reserve | General Allocation | ||||||||||||||||||||||
Six months ended June 30, 2016 | (in thousands) | |||||||||||||||||||||||||||
Commercial business: | ||||||||||||||||||||||||||||
Secured | $ | 32,321 | $ | (6,670 | ) | $ | 1,339 | $ | 4,818 | $ | 31,808 | $ | 2,486 | $ | 29,322 | |||||||||||||
Unsecured | 1,299 | (44 | ) | 76 | (66 | ) | 1,265 | — | 1,265 | |||||||||||||||||||
Real estate: | ||||||||||||||||||||||||||||
One-to-four family residential | 916 | (35 | ) | 61 | (268 | ) | 674 | 1 | 673 | |||||||||||||||||||
Commercial & multifamily residential: | ||||||||||||||||||||||||||||
Commercial land | 1,178 | (26 | ) | 2 | 268 | 1,422 | — | 1,422 | ||||||||||||||||||||
Income property | 6,616 | — | 181 | 1,249 | 8,046 | 100 | 7,946 | |||||||||||||||||||||
Owner occupied | 5,550 | — | 16 | 770 | 6,336 | — | 6,336 | |||||||||||||||||||||
Real estate construction: | ||||||||||||||||||||||||||||
One-to-four family residential: | ||||||||||||||||||||||||||||
Land and acquisition | 339 | — | 53 | 195 | 587 | — | 587 | |||||||||||||||||||||
Residential construction | 733 | — | 206 | 437 | 1,376 | — | 1,376 | |||||||||||||||||||||
Commercial & multifamily residential: | ||||||||||||||||||||||||||||
Income property | 388 | — | 2 | 514 | 904 | — | 904 | |||||||||||||||||||||
Owner occupied | 1,006 | — | — | 378 | 1,384 | — | 1,384 | |||||||||||||||||||||
Consumer | 3,531 | (600 | ) | 366 | 263 | 3,560 | 118 | 3,442 | ||||||||||||||||||||
Purchased credit impaired | 13,726 | (5,764 | ) | 3,075 | 744 | 11,781 | — | 11,781 | ||||||||||||||||||||
Unallocated | 569 | — | — | (408 | ) | 161 | — | 161 | ||||||||||||||||||||
Total | $ | 68,172 | $ | (13,139 | ) | $ | 5,377 | $ | 8,894 | $ | 69,304 | $ | 2,705 | $ | 66,599 |
Beginning Balance | Charge-offs | Recoveries | Provision (Recovery) | Ending Balance | Specific Reserve | General Allocation | ||||||||||||||||||||||
Three months ended June 30, 2015 | (in thousands) | |||||||||||||||||||||||||||
Commercial business: | ||||||||||||||||||||||||||||
Secured | $ | 25,761 | $ | (2,022 | ) | $ | 200 | $ | 3,769 | $ | 27,708 | $ | 1,161 | $ | 26,547 | |||||||||||||
Unsecured | 1,012 | (64 | ) | 9 | (100 | ) | 857 | — | 857 | |||||||||||||||||||
Real estate: | ||||||||||||||||||||||||||||
One-to-four family residential | 1,364 | (289 | ) | 15 | 265 | 1,355 | 111 | 1,244 | ||||||||||||||||||||
Commercial & multifamily residential: | ||||||||||||||||||||||||||||
Commercial land | 827 | — | — | 754 | 1,581 | — | 1,581 | |||||||||||||||||||||
Income property | 8,440 | (43 | ) | 7 | (207 | ) | 8,197 | — | 8,197 | |||||||||||||||||||
Owner occupied | 5,612 | — | 13 | 176 | 5,801 | 20 | 5,781 | |||||||||||||||||||||
Real estate construction: | ||||||||||||||||||||||||||||
One-to-four family residential: | ||||||||||||||||||||||||||||
Land and acquisition | 1,026 | — | 1 | (530 | ) | 497 | 66 | 431 | ||||||||||||||||||||
Residential construction | 1,790 | — | 7 | (839 | ) | 958 | — | 958 | ||||||||||||||||||||
Commercial & multifamily residential: | ||||||||||||||||||||||||||||
Income property | 827 | — | 2 | (422 | ) | 407 | — | 407 | ||||||||||||||||||||
Owner occupied | 499 | — | — | (58 | ) | 441 | — | 441 | ||||||||||||||||||||
Consumer | 2,835 | (319 | ) | 137 | 529 | 3,182 | — | 3,182 | ||||||||||||||||||||
Purchased credit impaired | 16,531 | (2,876 | ) | 2,043 | 476 | 16,174 | — | 16,174 | ||||||||||||||||||||
Unallocated | 3,710 | — | — | (1,611 | ) | 2,099 | — | 2,099 | ||||||||||||||||||||
Total | $ | 70,234 | $ | (5,613 | ) | $ | 2,434 | $ | 2,202 | $ | 69,257 | $ | 1,358 | $ | 67,899 | |||||||||||||
Beginning Balance | Charge-offs | Recoveries | Provision (Recovery) | Ending Balance | Specific Reserve | General Allocation | ||||||||||||||||||||||
Six months ended June 30, 2015 | (in thousands) | |||||||||||||||||||||||||||
Commercial business: | ||||||||||||||||||||||||||||
Secured | $ | 25,923 | $ | (3,408 | ) | $ | 712 | $ | 4,481 | $ | 27,708 | $ | 1,161 | $ | 26,547 | |||||||||||||
Unsecured | 927 | (104 | ) | 115 | (81 | ) | 857 | — | 857 | |||||||||||||||||||
Real estate: | ||||||||||||||||||||||||||||
One-to-four family residential | 2,281 | (297 | ) | 27 | (656 | ) | 1,355 | 111 | 1,244 | |||||||||||||||||||
Commercial & multifamily residential: | ||||||||||||||||||||||||||||
Commercial land | 799 | — | — | 782 | 1,581 | — | 1,581 | |||||||||||||||||||||
Income property | 9,159 | (43 | ) | 3,259 | (4,178 | ) | 8,197 | — | 8,197 | |||||||||||||||||||
Owner occupied | 5,007 | — | 22 | 772 | 5,801 | 20 | 5,781 | |||||||||||||||||||||
Real estate construction: | ||||||||||||||||||||||||||||
One-to-four family residential: | ||||||||||||||||||||||||||||
Land and acquisition | 1,197 | — | 3 | (703 | ) | 497 | 66 | 431 | ||||||||||||||||||||
Residential construction | 1,860 | — | 33 | (935 | ) | 958 | — | 958 | ||||||||||||||||||||
Commercial & multifamily residential: | ||||||||||||||||||||||||||||
Income property | 622 | — | 5 | (220 | ) | 407 | — | 407 | ||||||||||||||||||||
Owner occupied | 434 | — | — | 7 | 441 | — | 441 | |||||||||||||||||||||
Consumer | 3,180 | (1,210 | ) | 410 | 802 | 3,182 | — | 3,182 | ||||||||||||||||||||
Purchased credit impaired | 16,336 | (6,976 | ) | 3,729 | 3,085 | 16,174 | — | 16,174 | ||||||||||||||||||||
Unallocated | 1,844 | — | — | 255 | 2,099 | — | 2,099 | |||||||||||||||||||||
Total | $ | 69,569 | $ | (12,038 | ) | $ | 8,315 | $ | 3,411 | $ | 69,257 | $ | 1,358 | $ | 67,899 |
Three Months Ended | Six Months Ended | |||||||||||||||
June 30, | June 30, | |||||||||||||||
2016 | 2015 | 2016 | 2015 | |||||||||||||
(in thousands) | ||||||||||||||||
Balance at beginning of period | $ | 2,930 | $ | 2,655 | $ | 2,930 | $ | 2,655 | ||||||||
Net changes in the allowance for unfunded commitments and letters of credit | (150 | ) | 275 | (150 | ) | 275 | ||||||||||
Balance at end of period | $ | 2,780 | $ | 2,930 | $ | 2,780 | $ | 2,930 |
Pass | Special Mention | Substandard | Doubtful | Loss | Total | |||||||||||||||||||
June 30, 2016 | (in thousands) | |||||||||||||||||||||||
Loans, excluding PCI loans: | ||||||||||||||||||||||||
Commercial business: | ||||||||||||||||||||||||
Secured | $ | 2,297,510 | $ | 76,014 | $ | 43,897 | $ | — | $ | — | $ | 2,417,421 | ||||||||||||
Unsecured | 96,551 | 277 | 62 | — | — | 96,890 | ||||||||||||||||||
Real estate: | ||||||||||||||||||||||||
One-to-four family residential | 168,559 | 514 | 1,099 | — | — | 170,172 | ||||||||||||||||||
Commercial and multifamily residential: | ||||||||||||||||||||||||
Commercial land | 227,322 | 6,544 | 341 | — | — | 234,207 | ||||||||||||||||||
Income property | 1,344,005 | 17,095 | 11,007 | — | — | 1,372,107 | ||||||||||||||||||
Owner occupied | 1,005,059 | 5,791 | 13,596 | — | — | 1,024,446 | ||||||||||||||||||
Real estate construction: | ||||||||||||||||||||||||
One-to-four family residential: | ||||||||||||||||||||||||
Land and acquisition | 10,708 | — | — | — | — | 10,708 | ||||||||||||||||||
Residential construction | 117,022 | — | 842 | — | — | 117,864 | ||||||||||||||||||
Commercial and multifamily residential: | ||||||||||||||||||||||||
Income property | 78,867 | — | — | — | — | 78,867 | ||||||||||||||||||
Owner occupied | 100,341 | — | 4,555 | — | — | 104,896 | ||||||||||||||||||
Consumer | 309,831 | — | 8,627 | — | — | 318,458 | ||||||||||||||||||
Total | $ | 5,755,775 | $ | 106,235 | $ | 84,026 | $ | — | $ | — | 5,946,036 | |||||||||||||
Less: | ||||||||||||||||||||||||
Allowance for loan and lease losses | 57,523 | |||||||||||||||||||||||
Loans, excluding PCI loans, net | $ | 5,888,513 |
Pass | Special Mention | Substandard | Doubtful | Loss | Total | |||||||||||||||||||
December 31, 2015 | (in thousands) | |||||||||||||||||||||||
Loans, excluding PCI loans: | ||||||||||||||||||||||||
Commercial business: | ||||||||||||||||||||||||
Secured | $ | 2,146,729 | $ | 59,746 | $ | 56,217 | $ | — | $ | — | $ | 2,262,692 | ||||||||||||
Unsecured | 93,347 | 278 | 1,323 | — | — | 94,948 | ||||||||||||||||||
Real estate: | ||||||||||||||||||||||||
One-to-four family residential | 171,945 | 52 | 1,439 | — | — | 173,436 | ||||||||||||||||||
Commercial and multifamily residential: | ||||||||||||||||||||||||
Commercial land | 207,768 | 4,966 | 424 | — | — | 213,158 | ||||||||||||||||||
Income property | 1,296,043 | 5,889 | 8,847 | — | — | 1,310,779 | ||||||||||||||||||
Owner occupied | 918,986 | 9,668 | 17,662 | — | — | 946,316 | ||||||||||||||||||
Real estate construction: | ||||||||||||||||||||||||
One-to-four family residential: | ||||||||||||||||||||||||
Land and acquisition | 14,388 | — | 362 | — | — | 14,750 | ||||||||||||||||||
Residential construction | 119,243 | — | 1,132 | — | — | 120,375 | ||||||||||||||||||
Commercial and multifamily residential: | ||||||||||||||||||||||||
Income property | 83,634 | — | — | — | — | 83,634 | ||||||||||||||||||
Owner occupied | 81,270 | — | 401 | — | — | 81,671 | ||||||||||||||||||
Consumer | 328,286 | — | 4,076 | — | — | 332,362 | ||||||||||||||||||
Total | $ | 5,461,639 | $ | 80,599 | $ | 91,883 | $ | — | $ | — | 5,634,121 | |||||||||||||
Less: | ||||||||||||||||||||||||
Allowance for loan and lease losses | 54,446 | |||||||||||||||||||||||
Loans, excluding PCI loans, net | $ | 5,579,675 |
Pass | Special Mention | Substandard | Doubtful | Loss | Total | |||||||||||||||||||
June 30, 2016 | (in thousands) | |||||||||||||||||||||||
PCI loans: | ||||||||||||||||||||||||
Commercial business: | ||||||||||||||||||||||||
Secured | $ | 24,135 | $ | 96 | $ | 3,298 | $ | — | $ | — | $ | 27,529 | ||||||||||||
Unsecured | 919 | — | 1 | — | — | 920 | ||||||||||||||||||
Real estate: | ||||||||||||||||||||||||
One-to-four family residential | 21,966 | — | 1,742 | — | — | 23,708 | ||||||||||||||||||
Commercial and multifamily residential: | ||||||||||||||||||||||||
Commercial land | 7,877 | — | 395 | — | — | 8,272 | ||||||||||||||||||
Income property | 30,893 | — | 4,496 | — | — | 35,389 | ||||||||||||||||||
Owner occupied | 55,866 | — | 1,674 | — | — | 57,540 | ||||||||||||||||||
Real estate construction: | ||||||||||||||||||||||||
One-to-four family residential: | ||||||||||||||||||||||||
Land and acquisition | 794 | — | 144 | — | — | 938 | ||||||||||||||||||
Residential construction | 401 | — | 321 | — | — | 722 | ||||||||||||||||||
Commercial and multifamily residential: | ||||||||||||||||||||||||
Income property | 1,263 | — | — | — | — | 1,263 | ||||||||||||||||||
Owner occupied | 520 | — | — | — | — | 520 | ||||||||||||||||||
Consumer | 18,470 | — | 327 | — | — | 18,797 | ||||||||||||||||||
Total | $ | 163,104 | $ | 96 | $ | 12,398 | $ | — | $ | — | 175,598 | |||||||||||||
Less: | ||||||||||||||||||||||||
Valuation discount resulting from acquisition accounting | 14,491 | |||||||||||||||||||||||
Allowance for loan losses | 11,781 | |||||||||||||||||||||||
PCI loans, net | $ | 149,326 |
Pass | Special Mention | Substandard | Doubtful | Loss | Total | |||||||||||||||||||
December 31, 2015 | (in thousands) | |||||||||||||||||||||||
PCI loans: | ||||||||||||||||||||||||
Commercial business: | ||||||||||||||||||||||||
Secured | $ | 31,468 | $ | 101 | $ | 5,995 | $ | — | $ | — | $ | 37,564 | ||||||||||||
Unsecured | 1,218 | — | 2 | — | — | 1,220 | ||||||||||||||||||
Real estate: | ||||||||||||||||||||||||
One-to-four family residential | 25,018 | — | 2,177 | — | — | 27,195 | ||||||||||||||||||
Commercial and multifamily residential: | ||||||||||||||||||||||||
Commercial land | 8,234 | — | 664 | — | — | 8,898 | ||||||||||||||||||
Income property | 36,426 | — | 5,916 | — | — | 42,342 | ||||||||||||||||||
Owner occupied | 53,071 | 261 | 1,736 | — | — | 55,068 | ||||||||||||||||||
Real estate construction: | ||||||||||||||||||||||||
One-to-four family residential: | ||||||||||||||||||||||||
Land and acquisition | 1,086 | — | 479 | — | — | 1,565 | ||||||||||||||||||
Residential construction | 427 | — | 334 | — | — | 761 | ||||||||||||||||||
Commercial and multifamily residential: | ||||||||||||||||||||||||
Income property | 1,303 | — | — | — | — | 1,303 | ||||||||||||||||||
Owner occupied | 531 | — | — | — | — | 531 | ||||||||||||||||||
Consumer | 20,122 | — | 781 | — | — | 20,903 | ||||||||||||||||||
Total | $ | 178,904 | $ | 362 | $ | 18,084 | $ | — | $ | — | 197,350 | |||||||||||||
Less: | ||||||||||||||||||||||||
Valuation discount resulting from acquisition accounting | 16,444 | |||||||||||||||||||||||
Allowance for loan losses | 13,726 | |||||||||||||||||||||||
PCI loans, net | $ | 167,180 |
Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||
2016 | 2015 | 2016 | 2015 | |||||||||||||
(in thousands) | ||||||||||||||||
Balance, beginning of period | $ | 12,427 | $ | 23,299 | $ | 13,738 | $ | 22,190 | ||||||||
Transfers in | 206 | 3,143 | 311 | 7,836 | ||||||||||||
Valuation adjustments | (139 | ) | (596 | ) | (276 | ) | (793 | ) | ||||||||
Proceeds from sale of OREO property | (1,950 | ) | (6,484 | ) | (3,276 | ) | (11,608 | ) | ||||||||
Gain on sale of OREO, net | 69 | 1,255 | 116 | 2,992 | ||||||||||||
Balance, end of period | $ | 10,613 | $ | 20,617 | $ | 10,613 | $ | 20,617 |
Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||
2016 | 2015 | 2016 | 2015 | |||||||||||||
(in thousands) | ||||||||||||||||
Balance at beginning of period | $ | 5,954 | $ | 14,644 | $ | 6,568 | $ | 15,174 | ||||||||
Adjustments not reflected in income: | ||||||||||||||||
Cash received from the FDIC, net | (396 | ) | (2,862 | ) | (43 | ) | (3,522 | ) | ||||||||
FDIC reimbursable recoveries, net | (302 | ) | (944 | ) | (166 | ) | (964 | ) | ||||||||
Adjustments reflected in income: | ||||||||||||||||
Amortization, net | (883 | ) | (1,376 | ) | (2,215 | ) | (3,670 | ) | ||||||||
Loan impairment (recapture) | (20 | ) | 1 | 127 | 1,532 | |||||||||||
Sale of other real estate | (24 | ) | (208 | ) | 120 | (627 | ) | |||||||||
Valuation adjustments of other real estate | (40 | ) | 52 | (22 | ) | 1,124 | ||||||||||
Other | (23 | ) | 37 | (103 | ) | 297 | ||||||||||
Balance at end of period | $ | 4,266 | $ | 9,344 | $ | 4,266 | $ | 9,344 |
June 30, 2016 | ||||||||||||||||||||
Columbia River Bank | American Marine Bank | Summit Bank | First Heritage Bank | Total | ||||||||||||||||
(in thousands) | ||||||||||||||||||||
FDIC loss-sharing asset | $ | 321 | $ | 2,254 | $ | 1,371 | $ | 320 | $ | 4,266 | ||||||||||
Clawback liability | $ | 3,451 | $ | 1,282 | $ | — | $ | 700 | $ | 5,433 | ||||||||||
Non-single family covered assets | $ | 62,536 | $ | 11,148 | $ | 6,889 | $ | 13,399 | $ | 93,972 | ||||||||||
Single family covered assets | $ | 6,942 | $ | 20,834 | $ | 5,624 | $ | 1,675 | $ | 35,075 | ||||||||||
Loss-sharing expiration dates: | ||||||||||||||||||||
Non-single family | Expired | Expired | Expired | Expired | ||||||||||||||||
Single family | First Quarter 2020 | First Quarter 2020 | Second Quarter 2021 | Second Quarter 2021 | ||||||||||||||||
Loss recovery expiration dates: | ||||||||||||||||||||
Non-single family | First Quarter 2018 | First Quarter 2018 | Second Quarter 2019 | Second Quarter 2019 | ||||||||||||||||
Single family | First Quarter 2020 | First Quarter 2020 | Second Quarter 2021 | Second Quarter 2021 |
Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||
2016 | 2015 | 2016 | 2015 | |||||||||||||
(in thousands) | ||||||||||||||||
Goodwill | ||||||||||||||||
Total goodwill | $ | 382,762 | $ | 382,537 | $ | 382,762 | $ | 382,537 | ||||||||
Other intangible assets, net | ||||||||||||||||
Core deposit intangible: | ||||||||||||||||
Gross core deposit intangible balance at beginning of period | 58,598 | 58,598 | 58,598 | 58,598 | ||||||||||||
Accumulated amortization at beginning of period | (37,523 | ) | (30,875 | ) | (35,940 | ) | (29,058 | ) | ||||||||
Core deposit intangible, net at beginning of period | 21,075 | 27,723 | 22,658 | 29,540 | ||||||||||||
CDI current period amortization | (1,483 | ) | (1,718 | ) | (3,066 | ) | (3,535 | ) | ||||||||
Total core deposit intangible, net at end of period | 19,592 | 26,005 | 19,592 | 26,005 | ||||||||||||
Intangible assets not subject to amortization | 919 | 919 | 919 | 919 | ||||||||||||
Other intangible assets, net at end of period | 20,511 | 26,924 | 20,511 | 26,924 | ||||||||||||
Total goodwill and other intangible assets at end of period | $ | 403,273 | $ | 409,461 | $ | 403,273 | $ | 409,461 |
Amount | ||||
(in thousands) | ||||
Year ending December 31, | ||||
2016 | $ | 2,880 | ||
2017 | 4,913 | |||
2018 | 3,855 | |||
2019 | 2,951 | |||
2020 | 2,048 |
Asset Derivatives | Liability Derivatives | ||||||||||||||||||||||
June 30, 2016 | December 31, 2015 | June 30, 2016 | December 31, 2015 | ||||||||||||||||||||
Balance Sheet Location | Fair Value | Balance Sheet Location | Fair Value | Balance Sheet Location | Fair Value | Balance Sheet Location | Fair Value | ||||||||||||||||
(in thousands) | |||||||||||||||||||||||
Interest rate contracts | Other assets | $ | 21,904 | Other assets | $ | 12,438 | Other liabilities | $ | 21,951 | Other liabilities | $ | 12,478 |
Gross Amounts of Recognized Assets/Liabilities | Gross Amounts Offset in the Consolidated Balance Sheets | Net Amounts of Assets/Liabilities Presented in the Consolidated Balance Sheets | Gross Amounts Not Offset in the Consolidated Balance Sheets | ||||||||||||||||
Collateral Posted | Net Amount | ||||||||||||||||||
June 30, 2016 | (in thousands) | ||||||||||||||||||
Assets | |||||||||||||||||||
Interest rate contracts | $ | 21,904 | $ | — | $ | 21,904 | $ | — | $ | 21,904 | |||||||||
Liabilities | |||||||||||||||||||
Interest rate contracts | $ | 21,951 | $ | — | $ | 21,951 | $ | (21,951 | ) | $ | — | ||||||||
Repurchase agreements | $ | 89,218 | $ | — | $ | 89,218 | $ | (89,218 | ) | $ | — | ||||||||
December 31, 2015 | |||||||||||||||||||
Assets | |||||||||||||||||||
Interest rate contracts | $ | 12,438 | $ | — | $ | 12,438 | $ | — | $ | 12,438 | |||||||||
Liabilities | |||||||||||||||||||
Interest rate contracts | $ | 12,478 | $ | — | $ | 12,478 | $ | (12,478 | ) | $ | — | ||||||||
Repurchase agreements | $ | 99,699 | $ | — | $ | 99,699 | $ | (99,699 | ) | $ | — |
Remaining contractual maturity of the agreements | ||||||||||||||||||||
Overnight and continuous | Up to 30 days | 30 - 90 days | Greater than 90 days | Total | ||||||||||||||||
June 30, 2016 | (in thousands) | |||||||||||||||||||
Class of collateral pledged for repurchase agreements | ||||||||||||||||||||
U.S. government agency and government-sponsored enterprise mortgage-backed securities and collateralized mortgage obligations | $ | 64,218 | $ | — | $ | — | $ | 25,000 | $ | 89,218 | ||||||||||
Gross amount of recognized liabilities for repurchase agreements | 89,218 | |||||||||||||||||||
Amounts related to agreements not included in offsetting disclosure | $ | — |
Unrealized Gains and Losses on Available-for-Sale Securities (1) | Unrealized Gains and Losses on Pension Plan Liability (1) | Total (1) | ||||||||||
Three months ended June 30, 2016 | (in thousands) | |||||||||||
Beginning balance | $ | 18,918 | $ | (6,575 | ) | $ | 12,343 | |||||
Other comprehensive income before reclassifications | 8,508 | — | 8,508 | |||||||||
Amounts reclassified from accumulated other comprehensive income (loss) | (146 | ) | 106 | (40 | ) | |||||||
Net current-period other comprehensive income | 8,362 | 106 | 8,468 | |||||||||
Ending balance | $ | 27,280 | $ | (6,469 | ) | $ | 20,811 | |||||
Three months ended June 30, 2015 | ||||||||||||
Beginning balance | $ | 16,379 | $ | (2,093 | ) | $ | 14,286 | |||||
Other comprehensive loss before reclassifications | (11,341 | ) | — | (11,341 | ) | |||||||
Amounts reclassified from accumulated other comprehensive income (loss) | (219 | ) | 63 | (156 | ) | |||||||
Net current-period other comprehensive income (loss) | (11,560 | ) | 63 | (11,497 | ) | |||||||
Ending balance | $ | 4,819 | $ | (2,030 | ) | $ | 2,789 | |||||
Six months ended June 30, 2016 | ||||||||||||
Beginning balance | $ | 386 | $ | (6,681 | ) | $ | (6,295 | ) | ||||
Other comprehensive loss before reclassifications | 27,278 | — | 27,278 | |||||||||
Amounts reclassified from accumulated other comprehensive income (loss) | (384 | ) | 212 | (172 | ) | |||||||
Net current-period other comprehensive income | 26,894 | 212 | 27,106 | |||||||||
Ending balance | $ | 27,280 | $ | (6,469 | ) | $ | 20,811 | |||||
Six months ended June 30, 2015 | ||||||||||||
Beginning balance | $ | 7,462 | $ | (1,841 | ) | $ | 5,621 | |||||
Other comprehensive loss before reclassifications | (1,965 | ) | (280 | ) | (2,245 | ) | ||||||
Amounts reclassified from accumulated other comprehensive income (loss) | (678 | ) | 91 | (587 | ) | |||||||
Net current-period other comprehensive loss | (2,643 | ) | (189 | ) | (2,832 | ) | ||||||
Ending balance | $ | 4,819 | $ | (2,030 | ) | $ | 2,789 |
Amount Reclassified from Accumulated Other Comprehensive Income (Loss) | ||||||||||||||||||
Three Months Ended June 30, | Six Months Ended June 30, | Affected line Item in the Consolidated | ||||||||||||||||
2016 | 2015 | 2016 | 2015 | Statement of Income | ||||||||||||||
(in thousands) | ||||||||||||||||||
Unrealized gains and losses on available-for-sale securities | ||||||||||||||||||
Investment securities gains | $ | 229 | $ | 343 | $ | 602 | $ | 1,064 | Investment securities gains, net | |||||||||
229 | 343 | 602 | 1,064 | Total before tax | ||||||||||||||
(83 | ) | (124 | ) | (218 | ) | (386 | ) | Income tax provision | ||||||||||
$ | 146 | $ | 219 | $ | 384 | $ | 678 | Net of tax | ||||||||||
Amortization of pension plan liability | ||||||||||||||||||
Actuarial losses | $ | (167 | ) | $ | (98 | ) | $ | (334 | ) | $ | (142 | ) | Compensation and employee benefits | |||||
(167 | ) | (98 | ) | (334 | ) | (142 | ) | Total before tax | ||||||||||
61 | 35 | 122 | 51 | Income tax benefit | ||||||||||||||
$ | (106 | ) | $ | (63 | ) | $ | (212 | ) | $ | (91 | ) | Net of tax |
Fair value | Fair Value Measurements at Reporting Date Using | |||||||||||||||
Level 1 | Level 2 | Level 3 | ||||||||||||||
June 30, 2016 | (in thousands) | |||||||||||||||
Assets | ||||||||||||||||
Securities available for sale: | ||||||||||||||||
U.S. government agency and government-sponsored enterprise mortgage-back securities and collateralized mortgage obligations | $ | 1,421,686 | $ | — | $ | 1,421,686 | $ | — | ||||||||
State and municipal debt securities | 518,365 | — | 518,365 | — | ||||||||||||
U.S. government agency and government-sponsored enterprise securities | 333,743 | — | 333,743 | — | ||||||||||||
U.S. government securities | 549 | 549 | — | — | ||||||||||||
Other securities | 5,209 | — | 5,209 | — | ||||||||||||
Total securities available for sale | $ | 2,279,552 | $ | 549 | $ | 2,279,003 | $ | — | ||||||||
Other assets (Interest rate contracts) | $ | 21,904 | $ | — | $ | 21,904 | $ | — | ||||||||
Liabilities | ||||||||||||||||
Other liabilities (Interest rate contracts) | $ | 21,951 | $ | — | $ | 21,951 | $ | — |
Fair value | Fair Value Measurements at Reporting Date Using | |||||||||||||||
Level 1 | Level 2 | Level 3 | ||||||||||||||
December 31, 2015 | (in thousands) | |||||||||||||||
Assets | ||||||||||||||||
Securities available for sale: | ||||||||||||||||
U.S. government agency and government-sponsored enterprise mortgage-back securities and collateralized mortgage obligations | $ | 1,286,489 | $ | — | $ | 1,286,489 | $ | — | ||||||||
State and municipal debt securities | 492,169 | — | 492,169 | — | ||||||||||||
U.S. government agency and government-sponsored enterprise securities | 353,782 | — | 353,782 | — | ||||||||||||
U.S. government securities | 20,137 | 20,137 | — | — | ||||||||||||
Other securities | 5,117 | — | 5,117 | — | ||||||||||||
Total securities available for sale | $ | 2,157,694 | $ | 20,137 | $ | 2,137,557 | $ | — | ||||||||
Other assets (Interest rate contracts) | $ | 12,438 | $ | — | $ | 12,438 | $ | — | ||||||||
Liabilities | ||||||||||||||||
Other liabilities (Interest rate contracts) | $ | 12,478 | $ | — | $ | 12,478 | $ | — |
Fair value at June 30, 2016 | Fair Value Measurements at Reporting Date Using | Losses During the Three Months Ended June 30, 2016 | Losses During the Six Months Ended June 30, 2016 | |||||||||||||||||||||
Level 1 | Level 2 | Level 3 | ||||||||||||||||||||||
(in thousands) | ||||||||||||||||||||||||
Impaired loans | $ | 3,218 | $ | — | $ | — | $ | 3,218 | $ | 2,691 | $ | 2,691 | ||||||||||||
OREO | 6,338 | — | — | 6,338 | 138 | 233 | ||||||||||||||||||
$ | 9,556 | $ | — | $ | — | $ | 9,556 | $ | 2,829 | $ | 2,924 |
Fair value at June 30, 2015 | Fair Value Measurements at Reporting Date Using | Losses During the Three Months Ended June 30, 2015 | Losses During the Six Months Ended June 30, 2015 | |||||||||||||||||||||
Level 1 | Level 2 | Level 3 | ||||||||||||||||||||||
(in thousands) | ||||||||||||||||||||||||
Impaired loans | $ | — | $ | — | $ | — | $ | — | $ | 1,138 | $ | 1,138 | ||||||||||||
OREO | 1,664 | $ | — | — | 1,664 | 611 | 655 | |||||||||||||||||
$ | 1,664 | $ | — | $ | — | $ | 1,664 | $ | 1,749 | $ | 1,793 |
Fair value at June 30, 2016 | Valuation Technique | Unobservable Input | Range (Weighted Average) (1) | |||||||
(dollars in thousands) | ||||||||||
Impaired loans - collateral-dependent (3) | $ | 303 | Fair Market Value of Collateral | Adjustment to Stated Value | N/A (2) | |||||
Impaired loans - other | $ | 2,915 | Discounted Cash Flow | Discount Rate | 2.99% - 10.25% (6.03%) | |||||
OREO | $ | 6,338 | Fair Market Value of Collateral | Adjustment to Appraisal Value | N/A (2) | |||||
(1) Discount rate used in discounted cash flow valuation. | ||||||||||
(2) Quantitative disclosures are not provided for collateral-dependent impaired loans and OREO because there were no adjustments made to the appraisal values or stated values during the current period. | ||||||||||
(3) Collateral consists of fixed assets and accounts receivable. |
Fair value at June 30, 2015 | Valuation Technique | Unobservable Input | Range (Weighted Average) (1) | |||||||
(dollars in thousands) | ||||||||||
Impaired loans (2) | $ | — | Fair Market Value of Collateral | Adjustment to Appraisal Value | 100% | |||||
OREO | $ | 1,664 | Fair Market Value of Collateral | Adjustment to Appraisal Value | N/A (3) | |||||
(1) Discount applied to appraisal value, letter of intent to purchase, or stated value (in the case of accounts receivable, inventory and equipment). | ||||||||||
(2) As there was only one impaired loan remeasured, a range of discounts could not be provided. The collateral for this loan consisted of non-proprietary software. | ||||||||||
(3) Quantitative disclosures are not provided for OREO because there were no adjustments made to the appraisal value during the current period. |
June 30, 2016 | ||||||||||||||||||||
Carrying Amount | Fair Value | Level 1 | Level 2 | Level 3 | ||||||||||||||||
(in thousands) | ||||||||||||||||||||
Assets | ||||||||||||||||||||
Cash and due from banks | $ | 167,172 | $ | 167,172 | $ | 167,172 | $ | — | $ | — | ||||||||||
Interest-earning deposits with banks | 11,216 | 11,216 | 11,216 | — | — | |||||||||||||||
Securities available for sale | 2,279,552 | 2,279,552 | 549 | 2,279,003 | — | |||||||||||||||
FHLB stock | 18,161 | 18,161 | — | 18,161 | — | |||||||||||||||
Loans held for sale | 7,649 | 7,649 | — | 7,649 | — | |||||||||||||||
Loans | 6,037,839 | 6,171,314 | — | — | 6,171,314 | |||||||||||||||
FDIC loss-sharing asset | 4,266 | 1,229 | — | — | 1,229 | |||||||||||||||
Interest rate contracts | 21,904 | 21,904 | — | 21,904 | — | |||||||||||||||
Liabilities | ||||||||||||||||||||
Deposits | $ | 7,673,213 | $ | 7,670,628 | $ | 7,251,213 | $ | 419,415 | $ | — | ||||||||||
FHLB Advances | 204,512 | 205,818 | — | 205,818 | — | |||||||||||||||
Repurchase agreements | 89,218 | 89,645 | — | 89,645 | — | |||||||||||||||
Interest rate contracts | 21,951 | 21,951 | — | 21,951 | — |
December 31, 2015 | ||||||||||||||||||||
Carrying Amount | Fair Value | Level 1 | Level 2 | Level 3 | ||||||||||||||||
(in thousands) | ||||||||||||||||||||
Assets | ||||||||||||||||||||
Cash and due from banks | $ | 166,929 | $ | 166,929 | $ | 166,929 | $ | — | $ | — | ||||||||||
Interest-earning deposits with banks | 8,373 | 8,373 | 8,373 | — | — | |||||||||||||||
Securities available for sale | 2,157,694 | 2,157,694 | 20,137 | 2,137,557 | — | |||||||||||||||
FHLB stock | 12,722 | 12,722 | — | 12,722 | — | |||||||||||||||
Loans held for sale | 4,509 | 4,509 | — | 4,509 | — | |||||||||||||||
Loans | 5,746,855 | 5,752,423 | — | — | 5,752,423 | |||||||||||||||
FDIC loss-sharing asset | 6,568 | 921 | — | — | 921 | |||||||||||||||
Interest rate contracts | 12,438 | 12,438 | — | 12,438 | — | |||||||||||||||
Liabilities | ||||||||||||||||||||
Deposits | $ | 7,438,829 | $ | 7,434,787 | $ | 6,979,924 | $ | 454,863 | $ | — | ||||||||||
FHLB Advances | 68,531 | 69,176 | — | 69,176 | — | |||||||||||||||
Repurchase agreements | 99,699 | 100,346 | — | 100,346 | — | |||||||||||||||
Interest rate contracts | 12,478 | 12,478 | — | 12,478 | — |
Three Months Ended | Six Months Ended | |||||||||||||||
June 30, | June 30, | |||||||||||||||
2016 | 2015 | 2016 | 2015 | |||||||||||||
(in thousands except per share) | ||||||||||||||||
Basic EPS: | ||||||||||||||||
Net income | $ | 25,405 | $ | 21,946 | $ | 46,664 | $ | 46,307 | ||||||||
Less: Earnings allocated to participating securities: | ||||||||||||||||
Preferred shares | 45 | 39 | 82 | 82 | ||||||||||||
Nonvested restricted shares | 343 | 248 | 578 | 475 | ||||||||||||
Earnings allocated to common shareholders | $ | 25,017 | $ | 21,659 | $ | 46,004 | $ | 45,750 | ||||||||
Weighted average common shares outstanding | 57,185 | 57,055 | 57,149 | 56,999 | ||||||||||||
Basic earnings per common share | $ | 0.44 | $ | 0.38 | $ | 0.80 | $ | 0.80 | ||||||||
Diluted EPS: | ||||||||||||||||
Earnings allocated to common shareholders (1) | $ | 25,017 | $ | 21,659 | $ | 46,004 | $ | 45,750 | ||||||||
Weighted average common shares outstanding | 57,185 | 57,055 | 57,149 | 56,999 | ||||||||||||
Dilutive effect of equity awards | 10 | 14 | 11 | 13 | ||||||||||||
Weighted average diluted common shares outstanding | 57,195 | 57,069 | 57,160 | 57,012 | ||||||||||||
Diluted earnings per common share | $ | 0.44 | $ | 0.38 | $ | 0.80 | $ | 0.80 | ||||||||
Potentially dilutive share options that were not included in the computation of diluted EPS because to do so would be anti-dilutive | 19 | 37 | 23 | 45 |
(1) | Earnings allocated to common shareholders for basic and diluted EPS may differ under the two-class method as a result of adding common stock equivalents for options and warrants to dilutive shares outstanding, which alters the ratio used to allocate earnings to common shareholders and participating securities for the purposes of calculating diluted EPS. |
Item 2. | MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS |
• | national and global economic conditions could be less favorable than expected or could have a more direct and pronounced effect on us than expected and adversely affect our ability to continue internal growth and maintain the quality of our earning assets; |
• | the local housing/real estate markets where we operate and make loans could face challenges; |
• | the risks presented by the economy, which could adversely affect credit quality, collateral values, including real estate collateral, investment values, liquidity and loan originations and loan portfolio delinquency rates; |
• | the efficiencies and enhanced financial and operating performance we expect to realize from investments in personnel, acquisitions and infrastructure may not be realized; |
• | the ability to complete future acquisitions and to successfully integrate acquired entities; |
• | interest rate changes could significantly reduce net interest income and negatively affect funding sources; |
• | projected business increases following strategic expansion or opening of new branches could be lower than expected; |
• | changes in the scope and cost of Federal Deposit Insurance Corporation (“FDIC”) insurance and other coverages; |
• | the impact of acquired loans on our earnings; |
• | changes in accounting principles, policies, and guidelines applicable to bank holding companies and banking; |
• | changes in laws and regulations affecting our businesses, including changes in the enforcement and interpretation of such laws and regulations by applicable governmental and regulatory agencies; |
• | competition among financial institutions and nontraditional providers of financial services could increase significantly; |
• | continued consolidation in the Pacific Northwest financial services industry resulting in the creation of larger financial institutions that may have greater resources could change the competitive landscape; |
• | the goodwill we have recorded in connection with acquisitions could become impaired, which may have an adverse impact on our earnings and capital; |
• | the reputation of the financial services industry could deteriorate, which could adversely affect our ability to access markets for funding and to acquire and retain customers; |
• | our ability to identify and address cyber-security risks, including security breaches, “denial of service attacks,” “hacking” and identity theft; |
• | any material failure or interruption of our information and communications systems or inability to keep pace with technological changes; |
• | our ability to effectively manage credit risk, interest rate risk, market risk, operational risk, legal risk, liquidity risk and regulatory and compliance risk; |
• | the effect of geopolitical instability, including wars, conflicts and terrorist attacks; |
• | our profitability measures could be adversely affected if we are unable to effectively manage our capital; |
• | natural disasters, including earthquakes, tsunamis, flooding, fires and other unexpected events; and |
• | the effects of any damage to our reputation resulting from developments related to any of the items identified above. |
Three Months Ended June 30, | Three Months Ended June 30, | |||||||||||||||||||||
2016 | 2015 | |||||||||||||||||||||
Average Balances | Interest Earned / Paid | Average Rate | Average Balances | Interest Earned / Paid | Average Rate | |||||||||||||||||
(dollars in thousands) | ||||||||||||||||||||||
ASSETS | ||||||||||||||||||||||
Loans, net (1)(2) | $ | 5,999,428 | $ | 72,952 | 4.86 | % | $ | 5,542,489 | $ | 72,410 | 5.23 | % | ||||||||||
Taxable securities | 1,801,195 | 8,829 | 1.96 | % | 1,516,740 | 7,260 | 1.91 | % | ||||||||||||||
Tax exempt securities (2) | 460,817 | 4,300 | 3.73 | % | 460,219 | 4,632 | 4.03 | % | ||||||||||||||
Interest-earning deposits with banks | 23,743 | 28 | 0.47 | % | 40,840 | 26 | 0.25 | % | ||||||||||||||
Total interest-earning assets | 8,285,183 | $ | 86,109 | 4.16 | % | 7,560,288 | $ | 84,328 | 4.46 | % | ||||||||||||
Other earning assets | 154,843 | 148,573 | ||||||||||||||||||||
Noninterest-earning assets | 790,765 | 823,312 | ||||||||||||||||||||
Total assets | $ | 9,230,791 | $ | 8,532,173 | ||||||||||||||||||
LIABILITIES AND SHAREHOLDERS’ EQUITY | ||||||||||||||||||||||
Certificates of deposit | $ | 428,279 | $ | 140 | 0.13 | % | $ | 489,984 | $ | 236 | 0.19 | % | ||||||||||
Savings accounts | 692,179 | 18 | 0.01 | % | 626,930 | 17 | 0.01 | % | ||||||||||||||
Interest-bearing demand | 949,669 | 183 | 0.08 | % | 883,366 | 155 | 0.07 | % | ||||||||||||||
Money market accounts | 1,956,257 | 446 | 0.09 | % | 1,752,821 | 332 | 0.08 | % | ||||||||||||||
Total interest-bearing deposits | 4,026,384 | 787 | 0.08 | % | 3,753,101 | 740 | 0.08 | % | ||||||||||||||
Federal Home Loan Bank advances | 161,637 | 241 | 0.60 | % | 121,828 | 154 | 0.51 | % | ||||||||||||||
Other borrowings | 76,771 | 135 | 0.70 | % | 86,084 | 136 | 0.63 | % | ||||||||||||||
Total interest-bearing liabilities | 4,264,792 | $ | 1,163 | 0.11 | % | 3,961,013 | $ | 1,030 | 0.10 | % | ||||||||||||
Noninterest-bearing deposits | 3,595,882 | 3,225,371 | ||||||||||||||||||||
Other noninterest-bearing liabilities | 102,447 | 97,902 | ||||||||||||||||||||
Shareholders’ equity | 1,267,670 | 1,247,887 | ||||||||||||||||||||
Total liabilities & shareholders’ equity | $ | 9,230,791 | $ | 8,532,173 | ||||||||||||||||||
Net interest income (tax equivalent) | $ | 84,946 | $ | 83,298 | ||||||||||||||||||
Net interest margin (tax equivalent) | 4.10 | % | 4.41 | % |
(1) | Nonaccrual loans have been included in the tables as loans carrying a zero yield. Amortized net deferred loan fees and net unearned discounts on acquired loans were included in the interest income calculations. The amortization of net deferred loan fees was $1.2 million and $1.5 million for the three month periods ended June 30, 2016 and 2015, respectively. The incremental accretion income on acquired loans was $4.4 million and $7.3 million for the three months ended June 30, 2016 and 2015, respectively. |
(2) | Tax-exempt income is calculated on a tax equivalent basis. The tax equivalent yield adjustment to interest earned on loans was $1.3 million and $666 thousand for the three months ended June 30, 2016 and 2015, respectively. The tax equivalent yield adjustment to interest earned on tax exempt securities was $1.5 million and $1.6 million for the three months ended June 30, 2016 and 2015, respectively. |
Six Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||||||||
2016 | 2015 | |||||||||||||||||||||
Average Balances | Interest Earned / Paid | Average Rate | Average Balances | Interest Earned / Paid | Average Rate | |||||||||||||||||
(dollars in thousands) | ||||||||||||||||||||||
ASSETS | ||||||||||||||||||||||
Loans, net (1)(2) | $ | 5,913,434 | $ | 144,250 | 4.88 | % | $ | 5,479,067 | $ | 143,897 | 5.25 | % | ||||||||||
Taxable securities | 1,745,242 | 16,846 | 1.93 | % | 1,562,776 | 14,786 | 1.89 | % | ||||||||||||||
Tax exempt securities (2) | 459,492 | 8,612 | 3.75 | % | 459,853 | 9,311 | 4.05 | % | ||||||||||||||
Interest-earning deposits with banks | 27,396 | 66 | 0.48 | % | 43,054 | 53 | 0.25 | % | ||||||||||||||
Total interest-earning assets | 8,145,564 | $ | 169,774 | 4.17 | % | 7,544,750 | $ | 168,047 | 4.45 | % | ||||||||||||
Other earning assets | 154,589 | 147,321 | ||||||||||||||||||||
Noninterest-earning assets | 789,848 | 826,976 | ||||||||||||||||||||
Total assets | $ | 9,090,001 | $ | 8,519,047 | ||||||||||||||||||
LIABILITIES AND SHAREHOLDERS’ EQUITY | ||||||||||||||||||||||
Certificates of deposit | $ | 438,597 | $ | 284 | 0.13 | % | $ | 496,101 | $ | 476 | 0.19 | % | ||||||||||
Savings accounts | 684,027 | 35 | 0.01 | % | 626,036 | 36 | 0.01 | % | ||||||||||||||
Interest-bearing demand | 938,809 | 352 | 0.07 | % | 1,047,844 | 293 | 0.06 | % | ||||||||||||||
Money market accounts | 1,943,416 | 858 | 0.09 | % | 1,784,198 | 683 | 0.08 | % | ||||||||||||||
Total interest-bearing deposits | 4,004,849 | 1,529 | 0.08 | % | 3,954,179 | 1,488 | 0.08 | % | ||||||||||||||
Federal Home Loan Bank advances | 106,103 | 365 | 0.69 | % | 125,812 | 313 | 0.50 | % | ||||||||||||||
Other borrowings | 83,735 | 273 | 0.65 | % | 97,066 | 282 | 0.58 | % | ||||||||||||||
Total interest-bearing liabilities | 4,194,687 | $ | 2,167 | 0.10 | % | 4,177,057 | $ | 2,083 | 0.10 | % | ||||||||||||
Noninterest-bearing deposits | 3,529,131 | 2,999,075 | ||||||||||||||||||||
Other noninterest-bearing liabilities | 103,143 | 98,526 | ||||||||||||||||||||
Shareholders’ equity | 1,263,040 | 1,244,389 | ||||||||||||||||||||
Total liabilities & shareholders’ equity | $ | 9,090,001 | $ | 8,519,047 | ||||||||||||||||||
Net interest income (tax equivalent) | $ | 167,607 | $ | 165,964 | ||||||||||||||||||
Net interest margin (tax equivalent) | 4.12 | % | 4.40 | % |
(1) | Nonaccrual loans have been included in the table as loans carrying a zero yield. Amortized net deferred loan fees and net unearned discounts on acquired loans were included in the interest income calculations. The amortization of net deferred loan fees was $2.3 million and $2.6 million for the six months ended June 30, 2016 and 2015, respectively. The incremental accretion income on acquired loans was $9.1 million and $14.8 million for the six months ended June 30, 2016 and 2015, respectively. |
(2) | Tax-exempt income is calculated on a tax equivalent basis. The tax equivalent yield adjustment to interest earned on loans was $2.3 million and $1.3 million for the six months ended June 30, 2016 and 2015, respectively. The tax equivalent yield adjustment to interest earned on tax exempt securities was $3.0 million and $3.3 million for the six months ended June 30, 2016 and 2015, respectively. |
Three Months Ended June 30, 2016 Compared to 2015 Increase (Decrease) Due to | ||||||||||||
Volume | Rate | Total | ||||||||||
(in thousands) | ||||||||||||
Interest Income | ||||||||||||
Loans, net | $ | 5,745 | $ | (5,203 | ) | $ | 542 | |||||
Taxable securities | 1,391 | 178 | 1,569 | |||||||||
Tax exempt securities | 6 | (338 | ) | (332 | ) | |||||||
Interest earning deposits with banks | (14 | ) | 16 | 2 | ||||||||
Interest income | $ | 7,128 | $ | (5,347 | ) | $ | 1,781 | |||||
Interest Expense | ||||||||||||
Deposits: | ||||||||||||
Certificates of deposit | $ | (27 | ) | $ | (69 | ) | $ | (96 | ) | |||
Savings accounts | 2 | (1 | ) | 1 | ||||||||
Interest-bearing demand | 12 | 16 | 28 | |||||||||
Money market accounts | 40 | 74 | 114 | |||||||||
Total interest on deposits | 27 | 20 | 47 | |||||||||
Federal Home Loan Bank advances | 56 | 31 | 87 | |||||||||
Other borrowings | (62 | ) | 61 | (1 | ) | |||||||
Interest expense | $ | 21 | $ | 112 | $ | 133 |
Six Months Ended June 30, 2016 Compared to 2015 Increase (Decrease) Due to | ||||||||||||
Volume | Rate | Total | ||||||||||
(in thousands) | ||||||||||||
Interest Income | ||||||||||||
Loans, net | $ | 10,980 | $ | (10,627 | ) | $ | 353 | |||||
Taxable securities | 1,757 | 303 | 2,060 | |||||||||
Tax exempt securities | (7 | ) | (692 | ) | (699 | ) | ||||||
Interest earning deposits with banks | (24 | ) | 37 | 13 | ||||||||
Interest income | $ | 12,706 | $ | (10,979 | ) | $ | 1,727 | |||||
Interest Expense | ||||||||||||
Deposits: | ||||||||||||
Certificates of deposit | $ | (50 | ) | $ | (142 | ) | $ | (192 | ) | |||
Savings accounts | 4 | (5 | ) | (1 | ) | |||||||
Interest-bearing demand | (33 | ) | 92 | 59 | ||||||||
Money market accounts | 64 | 111 | 175 | |||||||||
Total interest on deposits | (15 | ) | 56 | 41 | ||||||||
Federal Home Loan Bank advances | (55 | ) | 107 | 52 | ||||||||
Other borrowings | (70 | ) | 61 | (9 | ) | |||||||
Interest expense | $ | (140 | ) | $ | 224 | $ | 84 |
Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||
2016 | 2015 | 2016 | 2015 | |||||||||||||
(dollars in thousands) | ||||||||||||||||
Incremental accretion income due to: | ||||||||||||||||
FDIC purchased credit impaired loans | $ | 1,300 | $ | 2,367 | $ | 2,957 | $ | 4,814 | ||||||||
Other FDIC acquired loans (2) | — | 15 | — | 132 | ||||||||||||
Other acquired loans | 3,074 | 4,889 | 6,147 | 9,823 | ||||||||||||
Incremental accretion income | $ | 4,374 | $ | 7,271 | $ | 9,104 | $ | 14,769 | ||||||||
Net interest margin (tax equivalent) | 4.10 | % | 4.41 | % | 4.12 | % | 4.40 | % | ||||||||
Operating net interest margin (tax equivalent) (1) | 4.00 | % | 4.17 | % | 4.01 | % | 4.18 | % |
Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||||||||||||||||
2016 | 2015 (1) | $ Change | % Change | 2016 | 2015 (1) | $ Change | % Change | |||||||||||||||||||||||
(dollars in thousands) | ||||||||||||||||||||||||||||||
Deposit account and treasury management fees (1) | $ | 7,093 | $ | 7,351 | $ | (258 | ) | (4 | )% | $ | 14,082 | $ | 14,211 | $ | (129 | ) | (1 | )% | ||||||||||||
Card revenue (1) | 6,051 | 5,702 | 349 | 6 | % | 11,703 | 11,065 | 638 | 6 | % | ||||||||||||||||||||
Financial services and trust revenue (1) | 2,780 | 3,217 | (437 | ) | (14 | )% | 5,601 | 6,341 | (740 | ) | (12 | )% | ||||||||||||||||||
Loan revenue (1) | 2,802 | 2,322 | 480 | 21 | % | 5,064 | 4,925 | 139 | 3 | % | ||||||||||||||||||||
Merchant processing revenue | 2,272 | 2,340 | (68 | ) | (3 | )% | 4,374 | 4,380 | (6 | ) | — | % | ||||||||||||||||||
Bank owned life insurance | 1,270 | 1,206 | 64 | 5 | % | 2,386 | 2,284 | 102 | 4 | % | ||||||||||||||||||||
Other (1) | 433 | 475 | (42 | ) | (9 | )% | 867 | 1,303 | (436 | ) | (33 | )% | ||||||||||||||||||
Subtotal | 22,701 | 22,613 | 88 | — | % | 44,077 | 44,509 | (432 | ) | (1 | )% | |||||||||||||||||||
Investment securities gains, net | 229 | 343 | (114 | ) | (33 | )% | 602 | 1,064 | (462 | ) | (43 | )% | ||||||||||||||||||
Change in FDIC loss-sharing asset | (990 | ) | (1,494 | ) | 504 | (34 | )% | (2,093 | ) | (1,344 | ) | (749 | ) | 56 | % | |||||||||||||||
Total noninterest income | $ | 21,940 | $ | 21,462 | $ | 478 | 2 | % | $ | 42,586 | $ | 44,229 | $ | (1,643 | ) | (4 | )% |
Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||||||||||||||||
2016 | 2015 | $ Change | % Change | 2016 | 2015 | $ Change | % Change | |||||||||||||||||||||||
(dollars in thousands) | ||||||||||||||||||||||||||||||
Compensation and employee benefits | $ | 37,291 | $ | 38,446 | $ | (1,155 | ) | (3 | )% | $ | 73,610 | $ | 77,546 | $ | (3,936 | ) | (5 | )% | ||||||||||||
All other noninterest expense: | ||||||||||||||||||||||||||||||
Occupancy | 7,652 | 8,687 | (1,035 | ) | (12 | )% | 17,825 | 16,680 | 1,145 | 7 | % | |||||||||||||||||||
Merchant processing expense | 1,118 | 1,079 | 39 | 4 | % | 2,151 | 2,056 | 95 | 5 | % | ||||||||||||||||||||
Advertising and promotion | 1,043 | 1,195 | (152 | ) | (13 | )% | 1,885 | 2,126 | (241 | ) | (11 | )% | ||||||||||||||||||
Data processing | 3,929 | 4,242 | (313 | ) | (7 | )% | 8,075 | 9,226 | (1,151 | ) | (12 | )% | ||||||||||||||||||
Legal and professional services | 1,777 | 2,847 | (1,070 | ) | (38 | )% | 3,102 | 5,354 | (2,252 | ) | (42 | )% | ||||||||||||||||||
Taxes, license and fees | 1,298 | 1,427 | (129 | ) | (9 | )% | 2,588 | 2,659 | (71 | ) | (3 | )% | ||||||||||||||||||
Regulatory premiums | 1,068 | 1,321 | (253 | ) | (19 | )% | 2,209 | 2,542 | (333 | ) | (13 | )% | ||||||||||||||||||
Net cost (benefit) of operation of other real estate owned | 84 | (563 | ) | 647 | (115 | )% | 188 | (1,809 | ) | 1,997 | (110 | )% | ||||||||||||||||||
Amortization of intangibles | 1,483 | 1,718 | (235 | ) | (14 | )% | 3,066 | 3,535 | (469 | ) | (13 | )% | ||||||||||||||||||
Other | 7,047 | 8,072 | (1,025 | ) | (13 | )% | 14,165 | 15,290 | (1,125 | ) | (7 | )% | ||||||||||||||||||
Total all other noninterest expense | 26,499 | 30,025 | (3,526 | ) | (12 | )% | 55,254 | 57,659 | (2,405 | ) | (4 | )% | ||||||||||||||||||
Total noninterest expense | $ | 63,790 | $ | 68,471 | $ | (4,681 | ) | (7 | )% | $ | 128,864 | $ | 135,205 | $ | (6,341 | ) | (5 | )% |
Three Months Ended | Six Months Ended | |||||||||||||||
June 30, | June 30, | |||||||||||||||
2016 | 2015 | 2016 | 2015 | |||||||||||||
(in thousands) | ||||||||||||||||
Acquisition-related expenses: | ||||||||||||||||
Compensation and employee benefits | $ | — | $ | 3,035 | $ | 35 | $ | 3,373 | ||||||||
Occupancy | — | 804 | 2,383 | 1,303 | ||||||||||||
Advertising and promotion | — | 247 | — | 343 | ||||||||||||
Data processing | — | 180 | 18 | 1,738 | ||||||||||||
Legal and professional fees | — | 632 | — | 1,024 | ||||||||||||
Other | — | 745 | — | 836 | ||||||||||||
Total impact of acquisition-related expense to noninterest expense (1) | $ | — | $ | 5,643 | $ | 2,436 | $ | 8,617 |
Three Months Ended June 30, | Increase (Decrease) Amount | Six Months Ended June 30, | Increase (Decrease) Amount | |||||||||||||||||||||
2016 | 2015 (1) | 2016 | 2015 (1) | |||||||||||||||||||||
(in thousands) | ||||||||||||||||||||||||
Postage | $ | 546 | $ | 608 | $ | (62 | ) | $ | 1,131 | $ | 1,416 | $ | (285 | ) | ||||||||||
Software support and maintenance | 1,235 | 834 | 401 | 2,269 | 1,871 | 398 | ||||||||||||||||||
Supplies | 256 | 405 | (149 | ) | 711 | 722 | (11 | ) | ||||||||||||||||
Loan expenses (1) | 383 | 354 | 29 | 690 | 817 | (127 | ) | |||||||||||||||||
Dues and subscriptions (1) | 260 | 289 | (29 | ) | 617 | 564 | 53 | |||||||||||||||||
Insurance | 482 | 630 | (148 | ) | 957 | 1,026 | (69 | ) | ||||||||||||||||
Card expenses (1) | 703 | 784 | (81 | ) | 1,370 | 1,599 | (229 | ) | ||||||||||||||||
Travel and entertainment (1) | 929 | 1,279 | (350 | ) | 1,616 | 2,054 | (438 | ) | ||||||||||||||||
Employee expenses | 365 | 378 | (13 | ) | 655 | 657 | (2 | ) | ||||||||||||||||
Sponsorships and charitable contributions | 525 | 563 | (38 | ) | 1,144 | 995 | 149 | |||||||||||||||||
Directors fees | 189 | 216 | (27 | ) | 381 | 455 | (74 | ) | ||||||||||||||||
Correspondent bank processing fees | 143 | 181 | (38 | ) | 275 | 328 | (53 | ) | ||||||||||||||||
Investor relations | 124 | 209 | (85 | ) | 164 | 270 | (106 | ) | ||||||||||||||||
Other personal property owned | — | 2 | (2 | ) | (2 | ) | 6 | (8 | ) | |||||||||||||||
FDIC clawback expense | 70 | (30 | ) | 100 | 279 | (7 | ) | 286 | ||||||||||||||||
Fraud losses (1) | 101 | 288 | (187 | ) | 167 | 438 | — | |||||||||||||||||
Miscellaneous (1) | 736 | 1,082 | (346 | ) | 1,741 | 2,079 | (338 | ) | ||||||||||||||||
Total other noninterest expense | $ | 7,047 | $ | 8,072 | $ | (1,025 | ) | $ | 14,165 | $ | 15,290 | $ | (854 | ) |
Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||
2016 | 2015 | 2016 | 2015 | |||||||||||||
(in thousands) | ||||||||||||||||
Incremental accretion income on FDIC purchased credit impaired loans | $ | 1,300 | $ | 2,367 | $ | 2,957 | $ | 4,814 | ||||||||
Incremental accretion income on other FDIC acquired loans (1) | — | 15 | — | 132 | ||||||||||||
Provision for losses on purchased credit impaired loans | (91 | ) | (476 | ) | (744 | ) | (3,085 | ) | ||||||||
Change in FDIC loss-sharing asset (2) | (990 | ) | (1,494 | ) | (2,093 | ) | (1,344 | ) | ||||||||
FDIC clawback liability recovery (expense) | (70 | ) | 30 | (279 | ) | 7 | ||||||||||
Pre-tax earnings impact of FDIC acquired loan portfolios | $ | 149 | $ | 442 | $ | (159 | ) | $ | 524 |
June 30, 2016 | December 31, 2015 | |||||||
(in thousands) | ||||||||
Securities Available for Sale | ||||||||
U.S. government agency and government-sponsored enterprise mortgage-backed securities and collateralized mortgage obligations | $ | 1,421,686 | $ | 1,286,489 | ||||
State and municipal securities | 518,365 | 492,169 | ||||||
U.S. government and government-sponsored enterprise securities | 333,743 | 353,782 | ||||||
U.S. government securities | 549 | 20,137 | ||||||
Other securities | 5,209 | 5,117 | ||||||
Total | $ | 2,279,552 | $ | 2,157,694 |
June 30, 2016 | % of Total | December 31, 2015 | % of Total | |||||||||||
(dollars in thousands) | ||||||||||||||
Commercial business | $ | 2,518,682 | 41.2 | % | $ | 2,362,575 | 40.6 | % | ||||||
Real estate: | ||||||||||||||
One-to-four family residential | 172,957 | 2.8 | % | 176,295 | 3.0 | % | ||||||||
Commercial and multifamily residential | 2,651,476 | 43.6 | % | 2,491,736 | 42.9 | % | ||||||||
Total real estate | 2,824,433 | 46.4 | % | 2,668,031 | 45.9 | % | ||||||||
Real estate construction: | ||||||||||||||
One-to-four family residential | 129,195 | 2.1 | % | 135,874 | 2.3 | % | ||||||||
Commercial and multifamily residential | 185,315 | 3.0 | % | 167,413 | 2.9 | % | ||||||||
Total real estate construction | 314,510 | 5.1 | % | 303,287 | 5.2 | % | ||||||||
Consumer | 325,632 | 5.3 | % | 342,601 | 5.9 | % | ||||||||
Purchased credit impaired | 161,107 | 2.6 | % | 180,906 | 3.1 | % | ||||||||
Subtotal | 6,144,364 | 100.6 | % | 5,857,400 | 100.7 | % | ||||||||
Less: Net unearned income | (37,221 | ) | (0.6 | )% | (42,373 | ) | (0.7 | )% | ||||||
Loans, net of unearned income (before Allowance for Loan and Lease Losses) | $ | 6,107,143 | 100.0 | % | $ | 5,815,027 | 100.0 | % | ||||||
Loans held for sale | $ | 7,649 | $ | 4,509 |
June 30, 2016 | December 31, 2015 | |||||||
Acquisition: | (in thousands) | |||||||
Intermountain | $ | 7,458 | $ | 8,237 | ||||
West Coast | 18,966 | 24,367 | ||||||
Other | (446 | ) | (432 | ) | ||||
Total net discount at period end | $ | 25,978 | $ | 32,172 |
June 30, 2016 | December 31, 2015 | |||||||
(in thousands) | ||||||||
Nonperforming assets | ||||||||
Nonaccrual loans: | ||||||||
Commercial business | $ | 9,548 | $ | 9,437 | ||||
Real estate: | ||||||||
One-to-four family residential | 957 | 820 | ||||||
Commercial and multifamily residential | 7,834 | 9,513 | ||||||
Total real estate | 8,791 | 10,333 | ||||||
Real estate construction: | ||||||||
One-to-four family residential | 562 | 928 | ||||||
Total real estate construction | 562 | 928 | ||||||
Consumer | 4,014 | 766 | ||||||
Total nonaccrual loans | 22,915 | 21,464 | ||||||
Other real estate owned and other personal property owned | 10,613 | 13,738 | ||||||
Total nonperforming assets | $ | 33,528 | $ | 35,202 | ||||
Loans, net of unearned income | $ | 6,107,143 | $ | 5,815,027 | ||||
Total assets | $ | 9,353,651 | $ | 8,951,697 | ||||
Nonperforming loans to period end loans | 0.38 | % | 0.37 | % | ||||
Nonperforming assets to period end assets | 0.36 | % | 0.39 | % |
Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||
2016 | 2015 | 2016 | 2015 | |||||||||||||
(in thousands) | ||||||||||||||||
Balance, beginning of period | $ | 12,427 | $ | 23,299 | $ | 13,738 | $ | 22,190 | ||||||||
Transfers in | 206 | 3,143 | 311 | 7,836 | ||||||||||||
Valuation adjustments | (139 | ) | (596 | ) | (276 | ) | (793 | ) | ||||||||
Proceeds from sale of OREO property | (1,950 | ) | (6,484 | ) | (3,276 | ) | (11,608 | ) | ||||||||
Gain on sale of OREO, net | 69 | 1,255 | 116 | 2,992 | ||||||||||||
Balance, end of period | $ | 10,613 | $ | 20,617 | $ | 10,613 | $ | 20,617 |
1. | Loans collectively evaluated for impairment under the Contingencies topic of the FASB ASC. |
2. | Loans individually determined to be impaired in accordance with the Receivables topic of the FASB ASC. |
3. | Purchased credit impaired loans accounted for under the Receivables topic of the FASB ASC. |
• | Existing general economic and business conditions affecting our market place |
• | Credit quality trends |
• | Historical loss experience |
• | Seasoning of the loan portfolio |
• | Bank regulatory examination results |
• | Findings of internal credit examiners |
• | Duration of current business cycle |
• | Specific loss estimates for problem loans |
Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||
2016 | 2015 | 2016 | 2015 | |||||||||||||
(in thousands) | ||||||||||||||||
Beginning balance | $ | 69,264 | $ | 70,234 | $ | 68,172 | $ | 69,569 | ||||||||
Charge-offs: | ||||||||||||||||
Commercial business | (2,941 | ) | (2,086 | ) | (6,714 | ) | (3,512 | ) | ||||||||
One-to-four family residential | (35 | ) | (289 | ) | (35 | ) | (297 | ) | ||||||||
Commercial and multifamily residential | (26 | ) | (43 | ) | (26 | ) | (43 | ) | ||||||||
Consumer | (334 | ) | (319 | ) | (600 | ) | (1,210 | ) | ||||||||
Purchased credit impaired | (2,898 | ) | (2,876 | ) | (5,764 | ) | (6,976 | ) | ||||||||
Total charge-offs | (6,234 | ) | (5,613 | ) | (13,139 | ) | (12,038 | ) | ||||||||
Recoveries: | ||||||||||||||||
Commercial business | 753 | 209 | 1,415 | 827 | ||||||||||||
One-to-four family residential | 20 | 15 | 61 | 27 | ||||||||||||
Commercial and multifamily residential | 130 | 20 | 199 | 3,281 | ||||||||||||
One-to-four family residential construction | 5 | 8 | 259 | 36 | ||||||||||||
Commercial and multifamily residential construction | 1 | 2 | 2 | 5 | ||||||||||||
Consumer | 201 | 137 | 366 | 410 | ||||||||||||
Purchased credit impaired | 1,524 | 2,043 | 3,075 | 3,729 | ||||||||||||
Total recoveries | 2,634 | 2,434 | 5,377 | 8,315 | ||||||||||||
Net charge-offs | (3,600 | ) | (3,179 | ) | (7,762 | ) | (3,723 | ) | ||||||||
Provision for loan and lease losses | 3,640 | 2,202 | 8,894 | 3,411 | ||||||||||||
Ending balance | $ | 69,304 | $ | 69,257 | $ | 69,304 | $ | 69,257 | ||||||||
Total loans, net at end of period, excluding loans held of sale | $ | 6,107,143 | $ | 5,611,897 | $ | 6,107,143 | $ | 5,611,897 | ||||||||
Allowance for loan and lease losses to period-end loans | 1.13 | % | 1.23 | % | 1.13 | % | 1.23 | % | ||||||||
Allowance for unfunded commitments and letters of credit | ||||||||||||||||
Beginning balance | $ | 2,930 | $ | 2,655 | $ | 2,930 | $ | 2,655 | ||||||||
Net changes in the allowance for unfunded commitments and letters of credit | (150 | ) | 275 | (150 | ) | 275 | ||||||||||
Ending balance | $ | 2,780 | $ | 2,930 | $ | 2,780 | $ | 2,930 |
Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||
2016 | 2015 | 2016 | 2015 | |||||||||||||
(in thousands) | ||||||||||||||||
Balance at beginning of period | $ | 5,954 | $ | 14,644 | $ | 6,568 | $ | 15,174 | ||||||||
Adjustments not reflected in income: | ||||||||||||||||
Cash received from the FDIC, net | (396 | ) | (2,862 | ) | (43 | ) | (3,522 | ) | ||||||||
FDIC reimbursable recoveries, net | (302 | ) | (944 | ) | (166 | ) | (964 | ) | ||||||||
Adjustments reflected in income: | ||||||||||||||||
Amortization, net | (883 | ) | (1,376 | ) | (2,215 | ) | (3,670 | ) | ||||||||
Loan impairment (recapture) | (20 | ) | 1 | 127 | 1,532 | |||||||||||
Sale of other real estate | (24 | ) | (208 | ) | 120 | (627 | ) | |||||||||
Valuation adjustments of other real estate | (40 | ) | 52 | (22 | ) | 1,124 | ||||||||||
Other | (23 | ) | 37 | (103 | ) | 297 | ||||||||||
Balance at end of period | $ | 4,266 | $ | 9,344 | $ | 4,266 | $ | 9,344 |
June 30, 2016 | December 31, 2015 (1) | |||||||||||||
Balance | % of Total | Balance | % of Total | |||||||||||
(dollars in thousands) | ||||||||||||||
Core deposits: | ||||||||||||||
Demand and other noninterest-bearing | $ | 3,652,951 | 47.6 | % | $ | 3,507,358 | 47.2 | % | ||||||
Interest-bearing demand | 957,548 | 12.5 | % | 925,909 | 12.4 | % | ||||||||
Money market | 1,818,337 | 23.7 | % | 1,788,552 | 24.0 | % | ||||||||
Savings | 692,694 | 9.0 | % | 657,016 | 8.8 | % | ||||||||
Certificates of deposit, less than $250,000 (1) | 326,433 | 4.3 | % | 359,878 | 4.8 | % | ||||||||
Total core deposits | 7,447,963 | 97.1 | % | 7,238,713 | 97.2 | % | ||||||||
Certificates of deposit, $250,000 or more (1) | 72,812 | 0.9 | % | 72,126 | 1.0 | % | ||||||||
Certificates of deposit insured by CDARS® | 22,755 | 0.3 | % | 26,901 | 0.4 | % | ||||||||
Brokered money market accounts | 129,590 | 1.7 | % | 100,854 | 1.4 | % | ||||||||
Subtotal | 7,673,120 | 100.0 | % | 7,438,594 | 100.0 | % | ||||||||
Premium resulting from acquisition date fair value adjustment | 93 | 235 | ||||||||||||
Total deposits | $ | 7,673,213 | $ | 7,438,829 |
Company | Columbia Bank | |||||||||||
June 30, 2016 | December 31, 2015 | June 30, 2016 | December 31, 2015 | |||||||||
Common equity tier 1 (CET1) risk-based capital ratio | 11.6591 | % | 11.94 | % | 11.5121 | % | 11.76 | % | ||||
Tier 1 risk-based capital ratio | 11.6733 | % | 11.95 | % | 11.5121 | % | 11.76 | % | ||||
Total risk-based capital ratio | 12.6568 | % | 12.94 | % | 12.4962 | % | 12.75 | % | ||||
Leverage ratio | 9.6859 | % | 10.03 | % | 9.5856 | % | 9.89 | % | ||||
Capital conservation buffer | 4.6568 | % | N/A | 4.4962 | % | N/A |
Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||
2016 | 2015 | 2016 | 2015 | |||||||||||||
Operating net interest margin non-GAAP reconciliation: | (dollars in thousands) | |||||||||||||||
Net interest income (tax equivalent) (1) | $ | 84,946 | $ | 83,298 | $ | 167,607 | $ | 165,964 | ||||||||
Adjustments to arrive at operating net interest income (tax equivalent): | ||||||||||||||||
Incremental accretion income on FDIC purchased credit impaired loans | (1,300 | ) | (2,367 | ) | (2,957 | ) | (4,814 | ) | ||||||||
Incremental accretion income on other FDIC acquired loans (2) | — | (15 | ) | — | (132 | ) | ||||||||||
Incremental accretion income on other acquired loans | (3,074 | ) | (4,889 | ) | (6,147 | ) | (9,823 | ) | ||||||||
Premium amortization on acquired securities | 2,075 | 2,706 | 4,399 | 5,567 | ||||||||||||
Interest reversals on nonaccrual loans | 107 | 156 | 560 | 806 | ||||||||||||
Operating net interest income (tax equivalent) (1) | $ | 82,754 | $ | 78,889 | $ | 163,462 | $ | 157,568 | ||||||||
Average interest earning assets | $ | 8,285,183 | $ | 7,560,288 | $ | 8,145,564 | $ | 7,544,750 | ||||||||
Net interest margin (tax equivalent) (1) | 4.10 | % | 4.41 | % | 4.12 | % | 4.40 | % | ||||||||
Operating net interest margin (tax equivalent) (1) | 4.00 | % | 4.17 | % | 4.01 | % | 4.18 | % |
Item 3. | QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK |
Item 4. | CONTROLS AND PROCEDURES |
Item 1. | LEGAL PROCEEDINGS |
Item 2. | UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS |
(a) | Not applicable |
(b) | Not applicable |
(c) | The following table provides information about repurchases of common stock by the Company during the quarter ended June 30, 2016: |
Period | Total Number of Common Shares Purchased (1) | Average Price Paid per Common Share | Total Number of Shares Purchased as Part of Publicly Announced Plan (2) | Maximum Number of Remaining Shares That May Yet Be Purchased Under the Plan (2) | |||||||||
4/1/2016 - 4/30/2016 | 1,779 | $ | 31.17 | — | — | ||||||||
5/1/2016 - 5/31/2016 | 129 | 29.90 | — | — | |||||||||
6/1/2016 - 6/30/2016 | 33 | 27.62 | — | 2,900,000 | |||||||||
1,941 | $ | 31.02 | — |
(1) | Common shares repurchased by the Company during the quarter consist of cancellation of 1,941 shares of common stock to pay the shareholders’ withholding taxes. |
(2) | During the quarter ended June 30, 2016, the Board of Directors approved a stock repurchase program authorizing the Company to repurchase up to 2.9 million shares of its outstanding common stock. |
Item 3. | DEFAULTS UPON SENIOR SECURITIES |
Item 4. | MINE SAFETY DISCLOSURES |
Item 5. | OTHER INFORMATION |
Item 6. | EXHIBITS |
31.1+ | Certification of Chief Executive Officer Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 | |
31.2+ | Certification of Chief Financial Officer Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 | |
32+ | Certification Pursuant to 18 U.S.C. Section 1350, As Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 | |
101+ | The following financial information from Columbia Banking System, Inc.’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2016 is formatted in XBRL: (i) the Unaudited Consolidated Balance Sheets, (ii) the Unaudited Consolidated Statements of Income, (iii) the Unaudited Consolidated Statements of Comprehensive Income, (iv) the Unaudited Consolidated Statements of Changes in Shareholders’ Equity, (v) the Unaudited Consolidated Statements of Cash Flows, and (vi) the Notes to Unaudited Consolidated Financial Statements. |
COLUMBIA BANKING SYSTEM, INC. | |||||
Date: | August 4, 2016 | By | /s/ MELANIE J. DRESSEL | ||
Melanie J. Dressel | |||||
President and Chief Executive Officer (Principal Executive Officer) | |||||
Date: | August 4, 2016 | By | /s/ CLINT E. STEIN | ||
Clint E. Stein | |||||
Executive Vice President and Chief Financial Officer (Principal Financial Officer) | |||||
Date: | August 4, 2016 | By | /s/ BARRY S. RAY | ||
Barry S. Ray | |||||
Senior Vice President and Chief Accounting Officer (Principal Accounting Officer) |
31.1+ | Certification of Chief Executive Officer Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 | |
31.2+ | Certification of Chief Financial Officer Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 | |
32+ | Certification Pursuant to 18 U.S.C. Section 1350, As Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 | |
101+ | The following financial information from Columbia Banking System, Inc.’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2016 is formatted in XBRL: (i) the Unaudited Consolidated Balance Sheets, (ii) the Unaudited Consolidated Statements of Income, (iii) the Unaudited Consolidated Statements of Comprehensive Income, (iv) the Unaudited Consolidated Statements of Changes in Shareholders’ Equity, (v) the Unaudited Consolidated Statements of Cash Flows, and (vi) the Notes to Unaudited Consolidated Financial Statements. |
1. | I have reviewed this quarterly report on Form 10-Q of Columbia Banking System, Inc.; |
2. | Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report; |
3. | Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report; |
4. | The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have: |
(a) | Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared; |
(b) | Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles; |
(c) | Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and |
(d) | Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and |
5. | The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions): |
(a) | All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and |
(b) | Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting. |
/s/ MELANIE J. DRESSEL | |
Melanie J. Dressel President and Chief Executive Officer |
1. | I have reviewed this quarterly report on Form 10-Q of Columbia Banking System, Inc.; |
2. | Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report; |
3. | Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report; |
4. | The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have: |
(a) | Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared; |
(b) | Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles; |
(c) | Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and |
(d) | Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and |
5. | The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions): |
(a) | All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and |
(b) | Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting. |
/s/ CLINT E. STEIN | |
Clint E. Stein Executive Vice President and Chief Financial Officer |
(1) | The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and |
(2) | The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company. |
/s/ MELANIE J. DRESSEL | |
Melanie J. Dressel President and Chief Executive Officer Columbia Banking System, Inc. | |
/s/ CLINT E. STEIN | |
Clint E. Stein Executive Vice President and Chief Financial Officer Columbia Banking System, Inc. |
Document and Entity Information - shares |
6 Months Ended | |
---|---|---|
Jun. 30, 2016 |
Jul. 31, 2016 |
|
Document Information [Line Items] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Jun. 30, 2016 | |
Document Fiscal Year Focus | 2016 | |
Document Fiscal Period Focus | Q2 | |
Entity Registrant Name | COLUMBIA BANKING SYSTEM INC | |
Entity Central Index Key | 0000887343 | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Large Accelerated Filer | |
Entity Common Stock, Shares Outstanding | 58,048,500 |
Consolidated Balance Sheets (Parenthetical) - USD ($) shares in Thousands, $ in Thousands |
Jun. 30, 2016 |
Dec. 31, 2015 |
---|---|---|
Securities available-for-sale, amortized cost | $ 2,237,264 | $ 2,157,610 |
Less: unearned income on loans | $ (37,221) | $ (42,373) |
Common stock, par value | $ 0 | $ 0 |
Authorized shares | 115,000 | 115,000 |
Common stock, shares outstanding | 58,025 | 57,724 |
Consolidated Statements of Income - USD ($) shares in Thousands, $ in Thousands |
3 Months Ended | 6 Months Ended | ||||||
---|---|---|---|---|---|---|---|---|
Jun. 30, 2016 |
Jun. 30, 2015 |
Jun. 30, 2016 |
Jun. 30, 2015 |
|||||
Interest Income | ||||||||
Loans | $ 71,651 | $ 71,744 | $ 141,967 | $ 142,566 | ||||
Taxable securities | 8,829 | 7,260 | 16,846 | 14,786 | ||||
Tax-exempt securities | 2,795 | 3,010 | 5,598 | 6,052 | ||||
Deposits in banks | 28 | 26 | 66 | 53 | ||||
Total interest income | 83,303 | 82,040 | 164,477 | 163,457 | ||||
Interest Expense | ||||||||
Deposits | 787 | 740 | 1,529 | 1,488 | ||||
Federal Home Loan Bank advances | 241 | 154 | 365 | 313 | ||||
Other borrowings | 135 | 136 | 273 | 282 | ||||
Total interest expense | 1,163 | 1,030 | 2,167 | 2,083 | ||||
Net Interest Income | 82,140 | 81,010 | 162,310 | 161,374 | ||||
Provision for loan and lease losses | 3,640 | 2,202 | 8,894 | 3,411 | ||||
Net interest income after provision for loan and lease losses | 78,500 | 78,808 | 153,416 | 157,963 | ||||
Noninterest Income | ||||||||
Deposit account and treasury management fees (1) | 7,093 | 7,351 | [1] | 14,082 | 14,211 | [1] | ||
Card revenue | 6,051 | 5,702 | [1] | 11,703 | 11,065 | [1] | ||
Financial services and trust revenue | 2,780 | 3,217 | [1] | 5,601 | 6,341 | [1] | ||
Loan revenue | 2,802 | 2,322 | [1] | 5,064 | 4,925 | [1] | ||
Merchant processing revenue | 2,272 | 2,340 | 4,374 | 4,380 | ||||
Bank Owned Life Insurance Income | 1,270 | 1,206 | 2,386 | 2,284 | ||||
Investment securities gains, net | 229 | 343 | 602 | 1,064 | ||||
Change in FDIC loss-sharing asset | (990) | (1,494) | (2,093) | (1,344) | ||||
Other (1) | 433 | 475 | [1] | 867 | 1,303 | [1] | ||
Total noninterest income | 21,940 | 21,462 | 42,586 | 44,229 | ||||
Noninterest Expense | ||||||||
Compensation and employee benefits | 37,291 | 38,446 | 73,610 | 77,546 | ||||
Occupancy | 7,652 | 8,687 | 17,825 | 16,680 | ||||
Merchant processing expense | 1,118 | 1,079 | 2,151 | 2,056 | ||||
Advertising and promotion | 1,043 | 1,195 | 1,885 | 2,126 | ||||
Data processing | 3,929 | 4,242 | 8,075 | 9,226 | ||||
Legal and professional fees | 1,777 | 2,847 | 3,102 | 5,354 | ||||
Taxes, licenses and fees | 1,298 | 1,427 | 2,588 | 2,659 | ||||
Regulatory premiums | 1,068 | 1,321 | 2,209 | 2,542 | ||||
Net cost (benefit) of operation of other real estate owned | 84 | (563) | 188 | (1,809) | ||||
Amortization of intangibles | 1,483 | 1,718 | 3,066 | 3,535 | ||||
Other | 7,047 | 8,072 | 14,165 | 15,290 | ||||
Total noninterest expense | 63,790 | 68,471 | 128,864 | 135,205 | ||||
Income before income taxes | 36,650 | 31,799 | 67,138 | 66,987 | ||||
Income tax provision | 11,245 | 9,853 | 20,474 | 20,680 | ||||
Net Income | $ 25,405 | $ 21,946 | $ 46,664 | $ 46,307 | ||||
Earnings per common share | ||||||||
Basic ($ per share) | $ 0.44 | $ 0.38 | $ 0.80 | $ 0.80 | ||||
Diluted ($ per share) | 0.44 | 0.38 | 0.80 | 0.80 | ||||
Dividends paid per common share | $ 0.37 | $ 0.34 | $ 0.75 | $ 0.64 | ||||
Weighted average number of common shares outstanding | 57,185 | 57,055 | 57,149 | 56,999 | ||||
Weighted average number of diluted common shares outstanding | 57,195 | 57,069 | 57,160 | 57,012 | ||||
|
Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands |
3 Months Ended | 6 Months Ended | ||||
---|---|---|---|---|---|---|
Jun. 30, 2016 |
Jun. 30, 2015 |
Jun. 30, 2016 |
Jun. 30, 2015 |
|||
Net income | $ 25,405 | $ 21,946 | $ 46,664 | $ 46,307 | ||
Unrealized gain from securities: | ||||||
Net unrealized holding loss from available for sale securities arising during the period | 8,508 | (11,341) | 27,278 | (1,965) | ||
Reclassification adjustment of net gain from sale of available for sale securities included in income | (146) | (219) | (384) | (678) | ||
Net unrealized gain from securities, net of reclassification adjustment | 8,362 | (11,560) | 26,894 | (2,643) | ||
Pension plan liability adjustment: | ||||||
Unrecognized net actuarial gain (loss) during the period | 0 | (280) | ||||
Less: amortization of unrecognized net actuarial loss included in net periodic pension cost | 106 | 63 | 212 | 91 | ||
Pension plan liability adjustment, net | 106 | 63 | 212 | (189) | ||
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent | [1] | 8,468 | (11,497) | 27,106 | (2,832) | |
Total comprehensive income | $ 33,873 | $ 10,449 | $ 73,770 | $ 43,475 | ||
|
Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Thousands |
3 Months Ended | 6 Months Ended | ||
---|---|---|---|---|
Jun. 30, 2016 |
Jun. 30, 2015 |
Jun. 30, 2016 |
Jun. 30, 2015 |
|
Net unrealized holding gain (loss) from available for sale securities arising during the period, tax | $ (4,844) | $ 6,457 | $ (15,530) | $ 1,119 |
Reclassification adjustment of net gain from sale of available for sale securities included in income, tax | 83 | 124 | 218 | 386 |
Net unrealized loss from unfunded defined benefit plan liability arising during the period, tax | 0 | 0 | 0 | 159 |
Less: amortization of unrecognized net actuarial loss included in net periodic pension cost, tax | $ (61) | $ (35) | $ (122) | $ (51) |
Consolidated Statements of Changes in Shareholders' Equity - USD ($) $ in Thousands |
Total |
Common Stock [Member] |
Retained Earnings [Member] |
Accumulated Other Comprehensive Income [Member] |
Preferred Stock [Member] |
---|---|---|---|---|---|
Balance, value at Dec. 31, 2014 | $ 1,228,175 | $ 985,839 | $ 234,498 | $ 5,621 | $ 2,217 |
Balance, shares at Dec. 31, 2014 | 57,437,000 | 9,000 | |||
Net income | 46,307 | 46,307 | |||
Other comprehensive income | (2,832) | (2,832) | |||
Issuance of common stock - stock option and other plans, value | $ 519 | ||||
Issuance of common stock - stock option and other plans, shares | 21,000 | ||||
Issuance of common stock - restricted stock awards, net of cancelled awards, value | $ 1,836 | ||||
Issuance of common stock - restricted stock awards, net of cancelled awards, shares | 282,000 | ||||
Stock Repurchased and Retired During Period, Value | $ (874) | ||||
Stock Repurchased During Period, Shares | (31,000) | ||||
Dividends, Preferred Stock, Cash | (66) | ||||
Cash dividends paid on common stock | (36,851) | (36,851) | |||
Balance, value at Jun. 30, 2015 | 1,236,214 | $ 987,320 | 243,888 | 2,789 | $ 2,217 |
Balance, shares at Jun. 30, 2015 | 57,709,000 | 9,000 | |||
Stock Issued During Period, Shares, New Issues | 0 | ||||
Stock Issued During Period, Value, New Issues | $ 0 | ||||
Balance, value at Dec. 31, 2015 | 1,242,128 | $ 990,281 | 255,925 | (6,295) | $ 2,217 |
Balance, shares at Dec. 31, 2015 | 57,724,000 | 9,000 | |||
Net income | 46,664 | 46,664 | |||
Other comprehensive income | 27,106 | 27,106 | |||
Issuance of common stock - stock option and other plans, value | 603 | $ 603 | |||
Issuance of common stock - stock option and other plans, shares | 21,000 | ||||
Issuance of common stock - restricted stock awards, net of cancelled awards, value | 2,551 | $ 2,551 | |||
Issuance of common stock - restricted stock awards, net of cancelled awards, shares | 317,000 | ||||
Stock Repurchased and Retired During Period, Value | (1,092) | $ (1,092) | |||
Stock Repurchased During Period, Shares | (37,000) | ||||
Dividends, Preferred Stock, Cash | (77) | 77 | |||
Cash dividends paid on common stock | (43,404) | (43,404) | |||
Balance, value at Jun. 30, 2016 | $ 1,274,479 | $ 992,343 | $ 259,108 | $ 20,811 | $ 2,217 |
Balance, shares at Jun. 30, 2016 | 58,025,000 | 8,782 |
Consolidated Statements of Cash Flows - USD ($) $ in Thousands |
6 Months Ended | ||||
---|---|---|---|---|---|
Jun. 30, 2016 |
Jun. 30, 2015 |
||||
Cash Flows From Operating Activities | |||||
Net income | $ 46,664 | $ 46,307 | |||
Adjustments to reconcile net income to net cash provided by operating activities | |||||
Provision for loan and lease losses | 8,894 | 3,411 | |||
Stock-based compensation expense | 2,551 | 1,836 | |||
Depreciation, amortization and accretion | 18,898 | 14,630 | |||
Investment securities gain, net | 602 | 1,064 | |||
Net realized (gain) loss on sale of other assets | 170 | (289) | |||
Net gain on sale and valuation adjustments of OREO | (160) | 2,199 | [1] | ||
Payments for Origination and Purchases of Loans Held-for-sale | 46,705 | 32,281 | [1] | ||
Proceeds from Sale of Loans Held-for-sale | 43,565 | 29,177 | [1] | ||
Net change in: | |||||
Interest receivable | (1,861) | 319 | |||
Interest payable | (74) | (105) | |||
Other assets | (7,818) | 1,579 | |||
Other liabilities | 9,809 | 3,292 | |||
Net cash provided by operating activities | 73,651 | 64,613 | |||
Cash Flows From Investing Activities | |||||
Loans originated and acquired, net of principal collected | (298,259) | (175,260) | |||
Purchases of securities available for sale | (296,920) | (37,070) | |||
Purchases of premises and equipment | (1,199) | (4,805) | |||
Payments to Acquire Federal Home Loan Bank Stock | (42,400) | (1,440) | |||
Proceeds from FDIC for reimbursement on loss-sharing asset | 668 | 4,009 | |||
Proceeds from sales of securities available for sale | 83,410 | 72,166 | |||
Proceeds from principal repayments and maturities of securities available for sale | 123,817 | 135,102 | |||
Proceeds from Sales of Assets, Investing Activities | 4,631 | 7,869 | [1] | ||
Proceeds from Sale of Federal Home Loan Bank Stock | 36,961 | 23,002 | [1] | ||
Proceeds from sales of other real estate and other personal property owned | 3,276 | 11,553 | |||
Payments to FDIC related to loss-sharing asset | (625) | (487) | |||
Net cash provided by (used in) investing activities | (386,640) | 34,639 | |||
Cash Flows From Financing Activities | |||||
Net increase in deposits | 234,526 | 119,651 | |||
Net decrease in sweep repurchase agreements | (10,481) | (12,850) | |||
Proceeds from Federal Home Loan Bank advances | 962,000 | 1,319,000 | |||
Federal Reserve Bank borrowings | 10 | 1,010 | |||
Proceeds from exercise of stock options | 603 | 519 | |||
Repayment of Federal Home Loan Bank advances | (826,000) | (1,490,000) | |||
Repayment of Federal Reserve Bank borrowings | 10 | 1,010 | |||
Payment of common stock dividends | (43,404) | (36,851) | |||
Payments of Ordinary Dividends, Preferred Stock and Preference Stock | (77) | (66) | |||
Repayments of Subordinated Debt | 0 | 8,248 | |||
Purchase and retirement of common stock | 1,092 | 874 | |||
Net cash provided by (used in) financing activities | 316,075 | (109,719) | |||
Increase (decrease) in cash and cash equivalents | 3,086 | (10,467) | |||
Cash and cash equivalents at beginning of period | 175,302 | 188,170 | |||
Cash and cash equivalents at end of period | 178,388 | 177,703 | |||
Supplemental Information: | |||||
Cash paid for interest | 2,241 | 2,188 | |||
Cash paid for income tax | 11,130 | 7,281 | |||
Non-cash investing and financing activities | |||||
Loans transferred to other real estate owned | $ 311 | $ 7,836 | |||
|
Basis of Presentation and Significant Accounting Policies |
6 Months Ended |
---|---|
Jun. 30, 2016 | |
Basis of Presentation And Significant Accounting Policies | |
Basis of Presentation and Significant Accounting Policies | Basis of Presentation and Significant Accounting Policies Basis of Presentation The interim unaudited consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America for interim financial information and with instructions to Form 10-Q and Article 10 of Regulation S-X. The consolidated financial statements include the accounts of Columbia Banking System, Inc. (“we”, “our”, “Columbia” or the “Company”) and its subsidiaries, including its wholly owned banking subsidiary Columbia State Bank (“Columbia Bank” or the “Bank”) and Columbia Trust Company (“Columbia Trust”). All intercompany transactions and accounts have been eliminated in consolidation. In the opinion of management, all adjustments (consisting only of normal recurring adjustments) considered necessary for a fair statement of the results for the interim periods presented have been included. The results of operations for the six months ended June 30, 2016 are not necessarily indicative of results to be anticipated for the year ending December 31, 2016. The accompanying interim unaudited consolidated financial statements should be read in conjunction with the financial statements and related notes contained in the Company’s 2015 Annual Report on Form 10-K. Because of reclassifications, changes occurred in the manner in which certain comparative period noninterest income items were presented in the unaudited consolidated statements of income. Specifically, fee revenue previously presented as ‘Service charges and other fees’ and certain fee revenue previously presented as ‘Other’ were reclassified to conform to the current period presentation. The Company made these presentation changes to provide additional information about its sources of noninterest income. There was no change to total noninterest income as previously reported as a result of these reclassifications. Significant Accounting Policies The significant accounting policies used in preparation of our consolidated financial statements are disclosed in our 2015 Annual Report on Form 10-K. There have not been any changes in our significant accounting policies compared to those contained in our 2015 Form 10-K disclosure for the year ended December 31, 2015. |
Accounting Pronouncements Recently Issued |
6 Months Ended |
---|---|
Jun. 30, 2016 | |
New Accounting Pronouncements and Changes in Accounting Principles [Abstract] | |
Accounting Pronouncements Recently Issued | Accounting Pronouncements Recently Issued In June 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2016-13, Measurement of Credit Losses on Financial Instruments. The amendments included in this ASU require an entity to reflect its current estimate of all expected credit losses for assets held at an amortized cost basis. For available for sale debt securities, credit losses should be measured in a manner similar to current GAAP, however, this ASU will require that credit losses be presented as an allowance rather than as a write-down. The amendments in ASU 2016-13 are effective for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years, and are required to be adopted through a modified retrospective approach, with a cumulative-effect adjustment to retained earnings as of the beginning of the first reporting period in which the ASU is effective. The Company is assessing the impact that this guidance will have on its consolidated financial statements. In March 2016, the FASB issued ASU 2016-09, Improvements to Employee Share-Based Payment Accounting. The amendments included in this ASU simplify several aspects of the accounting for employee share-based payment transactions including the accounting for income taxes, forfeitures, and statutory tax withholding requirements, as well as classification in the statement of cash flows. The amendments in ASU 2016-09 are effective for the first interim or annual period beginning after December 15, 2016. Early adoption is permitted. The Company is assessing the impact that this guidance will have on its consolidated financial statements but does not expect the impact to be material. In February 2016, the FASB issued ASU 2016-02, Leases. The amendments included in this ASU create a new accounting model for both lessees and lessors. The new guidance requires lessees to recognize lease liabilities and corresponding right-of-use assets for all leases with lease terms greater than 12 months. The amendments in ASU 2016-02 must be adopted using the modified retrospective approach and will be effective for the first interim or annual period beginning after December 15, 2018. Early adoption is permitted. The Company is assessing the impact that this guidance will have on its consolidated financial statements. In January 2016, the FASB issued ASU 2016-01, Recognition and Measurement of Financial Assets and Financial Liabilities. The amendments in ASU 2016-01 require all equity investments to be measured at fair value with changes in the fair value recognized through net income. The amendments in ASU 2016-01 also require an entity to present separately in other comprehensive income the portion of the total change in the fair value of a liability resulting from a change in the instrument-specific credit risk when the entity has elected to measure the liability at fair value in accordance with the fair value option for financial instruments. In addition, the amendments in this Update eliminate the requirement to disclose the method(s) and significant assumptions used to estimate the fair value that is required to be disclosed for financial instruments measured at amortized cost on the balance sheet for public business entities. The amendments in ASU 2016-01 are effective for the first interim or annual period beginning after December 15, 2017. The Company is assessing the impact that this guidance will have on its consolidated financial statements but does not expect the impact to be material. In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers. The guidance in this update supersedes the revenue recognition requirements in ASC Topic 605, Revenue Recognition, and most industry-specific guidance throughout the industry topics of the codification. For public companies, this update was to be effective for interim and annual periods beginning after December 15, 2016. However, in August 2015, the FASB issued ASU 2015-14, which delayed the effective date of ASU 2014-09 by one year and permits companies to voluntarily adopt the new standard as of the original effective date. In March, April and May 2016, the FASB issued ASU 2016-08, ASU 2016-10 and ASU 2016-12, respectively, to provide implementation guidance and practical expedients related to ASU 2014-09. The Company is assessing the impact that this guidance will have on its consolidated financial statements but does not expect the impact to be material. |
Securities |
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Available-for-sale Securities [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Securities | Securities The following table summarizes the amortized cost, gross unrealized gains and losses and the resulting fair value of securities available for sale:
Proceeds from sales of securities available for sale were $44.5 million and $14.9 million for the three months ended June 30, 2016 and 2015, respectively, and were $83.4 million and $72.2 million for the six months ended June 30, 2016 and June 30, 2015, respectively. The following table provides the gross realized gains and losses on the sales of securities for the periods indicated:
The scheduled contractual maturities of investment securities available for sale at June 30, 2016 are presented as follows:
The following table summarizes the carrying value of securities pledged as collateral to secure public deposits, borrowings and other purposes as permitted or required by law:
The following table shows the gross unrealized losses and fair value of the Company’s investments with unrealized losses that are not deemed to be other-than-temporarily impaired, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position at June 30, 2016 and December 31, 2015:
At June 30, 2016, there were 66 U.S. government agency and government-sponsored enterprise mortgage-backed securities and collateralized mortgage obligations securities in an unrealized loss position, of which 46 were in a continuous loss position for 12 months or more. The decline in fair value is attributable to changes in interest rates relative to where these investments fall within the yield curve and their individual characteristics. Because the Company does not intend to sell these securities nor does the Company consider it more likely than not that it will be required to sell these securities before the recovery of amortized cost basis, which may be upon maturity, the Company does not consider these investments to be other-than-temporarily impaired at June 30, 2016. At June 30, 2016, there were 20 state and municipal government securities in an unrealized loss position, of which 10 were in a continuous loss position for 12 months or more. The unrealized losses on state and municipal securities were caused by interest rate changes or widening of market spreads subsequent to the purchase of the individual securities. Management monitors published credit ratings of these securities for adverse changes. As of June 30, 2016, none of the rated obligations of state and local government entities held by the Company had a below investment grade credit rating. Because the credit quality of these securities are investment grade and the Company does not intend to sell these securities nor does the Company consider it more likely than not that it will be required to sell these securities before the recovery of amortized cost basis, which may be upon maturity, the Company does not consider these investments to be other-than-temporarily impaired at June 30, 2016. At June 30, 2016, there was one other security in an unrealized loss position, which was in a continuous unrealized loss position for 12 months or more. The decline in fair value is attributable to changes in interest rates and the additional risk premium investors are demanding for investment securities with these characteristics. The Company does not consider this investment to be other-than-temporarily impaired at June 30, 2016 as it has the intent and ability to hold the investment for sufficient time to allow for recovery in the market value. |
Loans |
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Loans Receivable, Net [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Loans | Loans The Company’s loan portfolio includes originated and purchased loans. Originated loans and purchased loans for which there was no evidence of credit deterioration at their acquisition date and it was probable that we would be able to collect all contractually required payments are referred to collectively as loans, excluding purchased credit impaired loans. Purchased loans for which there was, at acquisition date, evidence of credit deterioration since their origination and it was probable that we would be unable to collect all contractually required payments are referred to as purchased credit impaired loans, or “PCI loans.” The following is an analysis of the loan portfolio by segment (net of unearned income):
At June 30, 2016 and December 31, 2015, the Company had no material foreign activities. Substantially all of the Company’s loans and unfunded commitments are geographically concentrated in its service areas within the states of Washington, Oregon and Idaho. The Company has made loans to executive officers and directors of the Company and related interests. These loans are made on the same terms, including interest rates and collateral, as those prevailing at the time for comparable transactions with unrelated persons and do not involve more than the normal risk of collectability. The aggregate dollar amount of these loans was $10.3 million at June 30, 2016 and $10.0 million at December 31, 2015. During the first six months of 2016, there were $718 thousand in advances and $397 thousand in repayments. At June 30, 2016 and December 31, 2015, $2.24 billion and $2.22 billion of commercial and residential real estate loans were pledged as collateral on Federal Home Loan Bank of Des Moines (“FHLB”) borrowings and additional borrowing capacity. The Company has also pledged $50.8 million and $50.1 million of commercial loans to the Federal Reserve Bank for additional borrowing capacity at June 30, 2016 and December 31, 2015, respectively. The following is an analysis of nonaccrual loans as of June 30, 2016 and December 31, 2015:
Loans, excluding purchased credit impaired loans The following is an aging of the recorded investment of the loan portfolio as of June 30, 2016 and December 31, 2015:
The following is an analysis of impaired loans as of June 30, 2016 and December 31, 2015:
The following table provides additional information on impaired loans for the three and six month periods indicated:
The following is an analysis of loans classified as troubled debt restructurings (“TDR”) during the three and six months ended June 30, 2016 and 2015:
The Company’s loans classified as TDR are loans that have been modified or the borrower has been granted special concessions due to financial difficulties that, if not for the challenges of the borrower, the Company would not otherwise consider. The TDR modifications or concessions are made to increase the likelihood that these borrowers with financial difficulties will be able to satisfy their debt obligations as amended. The concessions granted in the restructurings summarized in the table above largely consisted of maturity extensions, interest rate modifications or a combination of both. In limited circumstances, a reduction in the principal balance of the loan could also be made as a concession. Credit losses for loans classified as TDR are measured on the same basis as impaired loans. For impaired loans, an allowance is established when the collateral value less selling costs (or discounted cash flows or observable market price) of the impaired loan is lower than the recorded investment of that loan. The Company had commitments to lend $19 thousand of additional funds on loans classified as TDR as of June 30, 2016. The Company had no such commitments at December 31, 2015. The Company did not have any loans modified as TDR that defaulted within twelve months of being modified as TDR during the three and six month periods ended June 30, 2016 and 2015. Purchased Credit Impaired Loans Purchased credit impaired (“PCI”) loans are accounted for under ASC 310-30 and initially measured at fair value based on expected future cash flows over the life of the loans. Loans that have common risk characteristics are aggregated into pools. The Company remeasures contractual and expected cash flows, at the pool-level, on a quarterly basis. Contractual cash flows are calculated based upon the loan pool terms after applying a prepayment factor. Calculation of the applied prepayment factor for contractual cash flows is the same as described below for expected cash flows. Inputs to the determination of expected cash flows include cumulative default and prepayment data as well as loss severity and recovery lag information. Cumulative default and prepayment data are calculated via a transition matrix. The transition matrix is a matrix of probability values that specifies the probability of a loan pool transitioning into a particular delinquency state (e.g. 0-30 days past due, 31 to 60 days, etc.) given its delinquency state at the remeasurement date. Loss severity factors are based upon either actual charge-off data within the loan pools or industry averages, and recovery lags are based upon the collateral within the loan pools. The excess of cash flows expected to be collected over the initial fair value of purchased credit impaired loans is referred to as the accretable yield and is accreted into interest income over the estimated life of the acquired loans using the effective yield method. Other adjustments to the accretable yield include changes in the estimated remaining life of the acquired loans, changes in expected cash flows and changes of indices for acquired loans with variable interest rates. The following is an analysis of our PCI loans, net of related allowance for losses and remaining valuation discounts as of June 30, 2016 and December 31, 2015:
The following table shows the changes in accretable yield for PCI loans for the three and six months ended June 30, 2016 and 2015:
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Allowance for Loan and Lease Losses and Unfunded Commitments and Letters of Credit |
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Allowance For Loan And Lease Losses And Unfunded Loan Commitments And Letters Of Credit | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Allowance For Loan And Lease Losses And Unfunded Loan Commitments And Letters Of Credit Text Block | Allowance for Loan and Lease Losses and Unfunded Commitments and Letters of Credit We record an allowance for loan and lease losses (the “allowance”) to recognize management’s estimate of credit losses incurred in the loan portfolio at each balance sheet date. Management’s allowance estimate is measured quarterly and the primary components include allowances related to:
The allowance for loans collectively evaluated for impairment is measured using quantitative information adjusted by qualitative factors. Quantitative information includes credit loss experience over a historical base period and a loss emergence period estimated by loan product category such as commercial business, commercial real estate, etc. Historical loss experience by loan class incorporates the loan’s risk rating migration from origination to the point of loss. Loan risk ratings are assigned based upon an assessment of the borrower’s ability to service the debt. In the event a borrower experiences financial deterioration such that the primary source of loan repayment is at risk, secondary sources of loan repayment, such as guarantors, are considered. As conditions likely differ between the historical base period and the balance sheet date, management qualitatively adjusts the historical loss rate to assist in ensuring our allowance estimate reflects current conditions. Such qualitative adjustments include general economic and business conditions affecting our marketplace, seasoning of the loan portfolio, duration of the business cycle, trends with respect to delinquencies and problem loans, etc. In addition, the allowance may include an unallocated amount to recognize factors inherent in our loan portfolio but not otherwise contemplated. Any unallocated amount generally comprises less than 5% of the allowance. For loans individually determined to be impaired, the Company measures impairment on a loan-by-loan basis using either the discounted expected future cash flows, observable market price, or the fair value of the collateral less selling costs if the loan is collateral dependent or if foreclosure is probable. A specific reserve for such loans is recognized to the extent the measured value is less than the loan’s recorded investment. Purchased credit impaired loans that have common risk characteristics are aggregated into loan pools. When required, we record impairment, at the pool-level, to adjust the pool’s carrying value to its net present value of expected future cash flows. Quarterly, we re-measure expected loan pool cash flows. If, due to credit deterioration, the present value of expected cash flows is less than carrying value, we reduce the loan pool’s carrying value by adjusting the allowance with an impairment charge to earnings which is recorded as provision for loan losses. If credit quality improves and the present value of expected cash flows exceeds carrying value, we increase the loan pool’s carrying value by recapturing previously recorded allowance, if any. See Note 4, Loans, for further discussion of the accounting for PCI loans. Credit losses attributable to draws on purchased credit impaired loans, advanced subsequent to the loan purchase date, are accounted for under the Contingencies topic of the FASB ASC as described above. We have used the same methodology for allowance calculations during the six months ended June 30, 2016 and 2015. The Company carefully monitors the loan portfolio and continues to emphasize the importance of credit quality. We recognize loan charge-offs when management determines that all or a portion of a loan balance is uncollectable and the uncollectable amount can be reasonably estimated. The following tables show a detailed analysis of the allowance for the three and six months ended June 30, 2016 and 2015:
Changes in the allowance for unfunded commitments and letters of credit, a component of other liabilities in the consolidated balance sheet, are summarized as follows:
Risk Elements The extension of credit in the form of loans or other credit products to individuals and businesses is one of our principal business activities. Our policies and applicable laws and regulations require risk analysis as well as ongoing portfolio and credit management. We manage our credit risk through lending limit constraints, credit review, approval policies and extensive, ongoing internal monitoring. We also manage credit risk through diversification of the loan portfolio by type of loan, type of industry and type of borrower and by limiting the aggregation of debt to a single borrower. Risk ratings are reviewed and updated whenever appropriate, with more periodic reviews as the risk and dollar value of loss on the loan increases. In the event full collection of principal and interest is not reasonably assured, the loan is appropriately downgraded and, if warranted, placed on nonaccrual status even though the loan may be current as to principal and interest payments. Additionally, we assess whether an impairment of a loan warrants specific reserves or a write-down of the loan. Pass rated loans are generally considered to have sufficient sources of repayment in order to repay the loan in full in accordance with all terms and conditions. Special Mention rated loans have potential weaknesses that, if left uncorrected, may result in deterioration of the repayment prospects for the asset or in the Company’s credit position at some future date. Loans with a risk rating of Substandard or worse are reported as classified loans in our allowance analysis. We review these loans to assess the ability of our borrowers to service all interest and principal obligations and, as a result, the risk rating may be adjusted accordingly. Loans risk rated as Substandard reflect loans where a loss is possible if loan weaknesses are not corrected. Doubtful rated loans have a high probability of loss, however, the amount of loss has not yet been determined. Loss rated loans are considered uncollectable and when identified, are charged off. The following is an analysis of the credit quality of our loan portfolio, excluding PCI loans, as of June 30, 2016 and December 31, 2015:
The following is an analysis of the credit quality of our PCI loan portfolio as of June 30, 2016 and December 31, 2015:
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Other Real Estate Owned |
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Other Real Estate Owned | Other Real Estate Owned (“OREO”) The following tables set forth activity in OREO for the three and six months ended June 30, 2016 and 2015:
At June 30, 2016, the carrying amount of foreclosed residential real estate properties held as a result of obtaining physical possession was $2.5 million and the recorded investment of consumer mortgage loans secured by residential real estate properties for which formal foreclosure proceedings were in process was $658 thousand. |
Covered Assets and FDIC Loss-sharing Asset |
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Covered Assets And FDIC Loss Sharing Asset | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Covered Assets and FDIC Loss sharing Asset | FDIC Loss-sharing Asset and Covered Assets We are a party to eight loss-sharing agreements with the FDIC relating to four FDIC-assisted acquisitions. Such agreements cover a substantial portion of losses incurred on acquired covered loans and OREO. The loss-sharing agreements relate to the acquisitions of (1) Columbia River Bank in January 2010, (2) American Marine Bank in January 2010, (3) Summit Bank in May 2011, and (4) First Heritage Bank in May 2011. Under the terms of the loss-sharing agreements, the FDIC will absorb 80% of losses and share in 80% of loss recoveries up to specified amounts. With respect to loss-sharing agreements for two acquisitions completed in 2010, after those specified amounts, the FDIC will absorb 95% of losses and share in 95% of loss recoveries. The loss-sharing provisions of the agreements for non-single family and single family mortgage loans are in effect for five and ten years, respectively, and the loss recovery provisions are in effect for eight and ten years, respectively. The loss-sharing provisions for the Columbia River Bank and American Marine Bank non-single family covered assets were effective through the end of the first quarter of 2015. In addition, the loss-sharing provisions for the Summit Bank and First Heritage Bank non-single family covered assets expired at the end of the second quarter of 2016. Accordingly, further activity will be limited to recoveries through the first quarter of 2018 and second quarter of 2019, respectively, for assets covered by these loss-sharing agreements. Ten years and forty-five days after the applicable acquisition dates, the Bank must pay to the FDIC a clawback in the event the losses from the acquisitions fail to reach stated levels. The amount of the clawback is determined by a formula specified in each individual loss-sharing agreement. As of June 30, 2016, the net present value of the Bank’s estimated clawback liability was $5.4 million, which was included in other liabilities on the consolidated balance sheets. At June 30, 2016, the FDIC loss-sharing asset was comprised of a $3.2 million FDIC indemnification asset and a $1.1 million FDIC receivable. The indemnification asset represents the net present value of cash flows the Company expects to collect from the FDIC under the loss-sharing agreements and the FDIC receivable represents amounts from the FDIC for which the Company has requested reimbursement but has not yet received reimbursement. For PCI loans, the Company remeasures contractual and expected cash flows on a quarterly basis. When the quarterly remeasurement process results in a decrease in expected cash flows due to an increase in expected credit losses, impairment is recorded. As a result of this impairment, for loans covered by loss-sharing agreements with respect to which the loss-sharing provisions are still effective, the indemnification asset is increased to reflect anticipated future cash to be received from the FDIC. Consistent with the loss-sharing agreements between the Company and the FDIC, the amount of the increase to the indemnification asset is measured as 80% of the resulting impairment. Alternatively, when the quarterly remeasurement results in an increase in expected future cash flows due to a decrease in expected credit losses, the nonaccretable difference decreases and the effective yield of the related loan portfolio is increased. As a result of the improved expected cash flows, for loans covered by loss-sharing agreements with respect to which the loss-sharing provisions are still effective, the indemnification asset would be reduced first by the amount of any impairment previously recorded and, second, by increased amortization over the remaining life of the related loss-sharing agreement. The following table shows a detailed analysis of the FDIC loss-sharing asset for the three and six months ended June 30, 2016 and 2015:
The following table presents information about the composition of the FDIC loss-sharing asset, the clawback liability, and the non-single family and the single family covered assets as of the date indicated:
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Goodwill and Intangible Assets |
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Goodwill and Intangible Assets Disclosure [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Goodwill and Intangible Assets | Goodwill and Other Intangible Assets In accordance with the Intangibles – Goodwill and Other topic of the FASB ASC, goodwill is not amortized but is reviewed for potential impairment at the reporting unit level. Management analyzes its goodwill for impairment on an annual basis on July 31 and between annual tests in certain circumstances such as material adverse changes in legal, business, regulatory and economic factors. An impairment loss is recorded to the extent that the carrying amount of goodwill exceeds its implied fair value. The core deposit intangible (“CDI”) is evaluated for impairment if events and circumstances indicate a possible impairment. The CDI is amortized on an accelerated basis over an estimated life of 10 years. The following table sets forth activity for goodwill and other intangible assets for the periods indicated:
The following table provides the estimated future amortization expense of core deposit intangibles for the remaining six months ending December 31, 2016 and the succeeding four years:
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Derivatives and Balance Sheet Offsetting |
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General Discussion of Derivative Instruments and Hedging Activities [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Derivatives and Hedging Activities | Derivatives and Balance Sheet Offsetting The Company periodically enters into certain commercial loan interest rate swap agreements in order to provide commercial loan customers the ability to convert from variable to fixed interest rates. Under these agreements, the Company enters into a variable-rate loan agreement with a customer in addition to a swap agreement. This swap agreement effectively converts the customer’s variable rate loan into a fixed rate. The Company then enters into a corresponding swap agreement with a third-party in order to offset its exposure on the variable and fixed components of the customer agreement. As the interest rate swap agreements with the customers and third parties are not designated as hedges under the Derivatives and Hedging topic of the FASB ASC, the instruments are marked to market in earnings. The notional amount of open interest rate swap agreements at June 30, 2016 and December 31, 2015 was $280.0 million and $264.4 million, respectively. During the three and six months ended June 30, 2016, a mark-to-market gain of $1 thousand and loss of $7 thousand, respectively, were recorded to other noninterest expense. During the three and six months ended June 30, 2015, mark-to-market gains of $9 thousand and $4 thousand, respectively, were recorded to other noninterest expense. The following table presents the fair value of derivatives not designated as hedging instruments at June 30, 2016 and December 31, 2015:
The Company is party to interest rate contracts and repurchase agreements that are subject to enforceable master netting arrangements or similar agreements. Under these agreements, the Company may have the right to net settle multiple contracts with the same counterparty. The following tables show the gross interest rate swap agreements and repurchase agreements in the consolidated balance sheets and the respective collateral received or pledged in the form of other financial instruments, which are generally marketable securities. The collateral amounts in these tables are limited to the outstanding balances of the related asset or liability. Therefore, instances of overcollateralization are not shown.
The following table presents the class of collateral pledged for repurchase agreements as well as the remaining contractual maturity of the repurchase agreements:
The collateral utilized for the Company’s repurchase agreements is subject to market fluctuations as well as prepayments of principal. The Company monitors the risk of the fair value of its pledged collateral falling below acceptable amounts based on the type of the underlying repurchase agreement. The pledged collateral related to the Company’s term wholesale repurchase agreement, which matures in 2018, is monitored on a monthly basis and additional capital is pledged when necessary. The pledged collateral related to the Company’s sweep repurchase agreements, which mature on an overnight basis, is monitored on a daily basis as the underlying sweep accounts can have frequent transaction activity and the amount of pledged collateral is adjusted as necessary. |
Commitments and Contingent Liabilities |
6 Months Ended |
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Jun. 30, 2016 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies Disclosure [Text Block] | Commitments and Contingent Liabilities Lease Commitments: The Company’s lease commitments consist primarily of leased locations under various non-cancellable operating leases that expire between 2016 and 2043. The majority of the leases contain renewal options and provisions for increases in rental rates based on an agreed upon index or predetermined escalation schedule. Financial Instruments with Off-Balance Sheet Risk: In the normal course of business, the Company makes loan commitments (typically unfunded loans and unused lines of credit) and issues standby letters of credit to accommodate the financial needs of its customers. At both June 30, 2016 and December 31, 2015, the Company’s loan commitments amounted to $1.93 billion. Standby letters of credit commit the Company to make payments on behalf of customers under specified conditions. Historically, no significant losses have been incurred by the Company under standby letters of credit. Both arrangements have credit risk essentially the same as that involved in extending loans to customers and are subject to the Company’s normal credit policies, including collateral requirements, where appropriate. Standby letters of credit were $48.0 million and $38.7 million at June 30, 2016 and December 31, 2015, respectively. In addition, commitments under commercial letters of credit used to facilitate customers’ trade transactions and other off-balance sheet liabilities amounted to $5.7 million and $5.0 million at June 30, 2016 and December 31, 2015, respectively. Legal Proceedings: The Company and its subsidiaries are from time to time defendants in and are threatened with various legal proceedings arising from their regular business activities. Management, after consulting with legal counsel, is of the opinion that the ultimate liability, if any, resulting from these pending or threatened actions and proceedings will not have a material effect on the financial statements of the Company. |
Shareholders' Equity |
6 Months Ended |
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Jun. 30, 2016 | |
Stockholders' Equity Note [Abstract] | |
Shareholders' Equity | Shareholders’ Equity Preferred Stock. In conjunction with the 2013 acquisition of West Coast Bancorp, the Company issued 8,782 shares of mandatorily convertible cumulative participating preferred stock, Series B (“Series B Preferred Stock”). The Series B Preferred Stock is not subject to the operation of a sinking fund. The Series B Preferred Stock is not redeemable by the Company and is perpetual with no maturity. The holders of Series B Preferred Stock have no general voting rights. If the Company declares and pays a dividend to its common shareholders, it must declare and pay to its holders of Series B Preferred Stock, on the same date, a dividend in an amount per share of the Series B Preferred Stock that is intended to provide such holders dividends in the amount they would have received if shares of Series B Preferred Stock had been converted into common stock as of that date. The outstanding shares of Series B Preferred Stock are convertible into 102,363 shares of Company common stock. Dividends. On January 28, 2016, the Company declared a quarterly cash dividend of $0.18 per common share and common share equivalent for holders of preferred stock, and a special cash dividend of $0.20 per common share and common share equivalent for holders of preferred stock, both payable on February 24, 2016 to shareholders of record at the close of business on February 10, 2016. On April 27, 2016, the Company declared a regular quarterly cash dividend of $0.19 per common share and common share equivalent for holders of preferred stock, and a special cash dividend of $0.18 per common share and common share equivalent for holders of preferred stock, both payable on May 25, 2016 to shareholders of record at the close of business on May 11, 2016. Subsequent to quarter end, on July 28, 2016, the Company declared a regular quarterly cash dividend of $0.20 per common share and common share equivalent for holders of preferred stock, and a special cash dividend of $0.19 per common share and common share equivalent for holders of preferred stock, both payable on August 24, 2016 to shareholders of record at the close of business on August 10, 2016. The payment of cash dividends is subject to federal regulatory requirements for capital levels and other restrictions. In addition, the cash dividends paid by Columbia Bank to the Company are subject to both federal and state regulatory requirements. |
Accumulated Other Comprehensive Income |
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Accumulated Other Comprehensive Income (Loss) [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accumulated Other Comprehensive Income | Accumulated Other Comprehensive Income (Loss) The following table shows changes in accumulated other comprehensive income (loss) by component for the three and six month periods ended June 30, 2016 and 2015:
__________ (1) All amounts are net of tax. Amounts in parenthesis indicate debits. The following table shows details regarding the reclassifications from accumulated other comprehensive income (loss) for the three and six month periods ended June 30, 2016 and 2015:
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Fair Value Accounting and Measurement |
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Fair Value Disclosures [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value Accounting and Measurement | Fair Value Accounting and Measurement The Fair Value Measurements and Disclosures topic of the FASB ASC defines fair value, establishes a consistent framework for measuring fair value and expands disclosure requirements about fair value. We hold fixed and variable rate interest-bearing securities, investments in marketable equity securities and certain other financial instruments, which are carried at fair value. Fair value is determined based upon quoted prices when available or through the use of alternative approaches, such as matrix or model pricing, when market quotes are not readily accessible or available. The valuation techniques are based upon observable and unobservable inputs. Observable inputs reflect market data obtained from independent sources, while unobservable inputs reflect our own market assumptions. These two types of inputs create the following fair value hierarchy: Level 1 – Quoted prices for identical instruments in active markets that are accessible at the measurement date. Level 2 – Quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are not active; and model derived valuations whose inputs are observable or whose significant value drivers are observable. Level 3 – Prices or valuation techniques that require inputs that are both significant to the fair value measurement and unobservable. Fair values are determined as follows: Securities at fair value are priced using a combination of market activity, industry recognized information sources, yield curves, discounted cash flow models and other factors. These fair value calculations are considered a Level 2 input method under the provisions of the Fair Value Measurements and Disclosures topic of the FASB ASC for all securities other than U.S. Treasury Notes, which are considered a Level 1 input method. Interest rate contract positions are valued in models, which use as their basis, readily observable market parameters and are classified within Level 2 of the valuation hierarchy. The following table sets forth the Company’s financial assets and liabilities that were accounted for at fair value on a recurring basis at June 30, 2016 and December 31, 2015 by level within the fair value hierarchy. Financial assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement:
There were no transfers between Level 1 and Level 2 of the valuation hierarchy during the six month periods ended June 30, 2016 and 2015. The Company recognizes transfers between levels of the valuation hierarchy based on the valuation level at the end of the reporting period. Nonrecurring Measurements Certain assets and liabilities are measured at fair value on a nonrecurring basis after initial recognition such as loans measured for impairment and OREO. The following methods were used to estimate the fair value of each such class of financial instrument: Impaired loans—A loan is considered to be impaired when, based on current information and events, it is probable that the Company will be unable to collect all amounts due (both interest and principal) according to the contractual terms of the loan agreement. Impaired loans are measured based on the present value of expected future cash flows discounted at the loan’s effective interest rate, a loan’s observable market price, or the fair market value of the collateral less estimated costs to sell if the loan is a collateral-dependent loan. Generally, the Company utilizes the fair market value of the collateral to measure impairment. The impairment evaluations are performed in conjunction with the allowance process on a quarterly basis by officers in the Special Credits group, which reports to the Chief Credit Officer. The Real Estate Appraisal Services Department (“REASD”), which also reports to the Chief Credit Officer, is responsible for obtaining appraisals from third-parties or performing internal evaluations. If an appraisal is obtained from a third-party, the REASD reviews the appraisal to evaluate the adequacy of the appraisal report, including its scope, methods, accuracy, and reasonableness. Other real estate owned—OREO is real property that the Bank has taken ownership of in partial or full satisfaction of a loan or loans. OREO is generally measured based on the property’s fair market value as indicated by an appraisal or a letter of intent to purchase. OREO is initially recorded at the fair value less estimated costs to sell. This amount becomes the property’s new basis. Any fair value adjustments based on the property’s fair value less estimated costs to sell at the date of acquisition are charged to the allowance, or in the event of a write-up without previous losses charged to the allowance, a credit to earnings is recorded. Management periodically reviews OREO in an effort to ensure the property is recorded at its fair value, net of estimated costs to sell. Any fair value adjustments subsequent to acquisition are charged or credited to earnings. The initial and subsequent evaluations are performed by officers in the Special Credits group, which reports to the Chief Credit Officer. The REASD obtains appraisals from third-parties for OREO and performs internal evaluations. If an appraisal is obtained from a third-party, the REASD reviews the appraisal to evaluate the adequacy of the appraisal report, including its scope, methods, accuracy, and reasonableness. The following tables set forth information related to the Company’s assets that were measured using fair value estimates on a nonrecurring basis during the current and prior year quarterly periods:
The losses on impaired loans disclosed above represent the amount of the specific reserve and/or charge-offs during the period applicable to loans held at period end. The amount of the specific reserve is included in the allowance for loan and lease losses. The losses on OREO disclosed above represent the write-downs taken at foreclosure that were charged to the allowance for loan and lease losses, as well as subsequent changes in any valuation allowances from updated appraisals that were recorded to earnings. Quantitative information about Level 3 fair value measurements The range and weighted-average of the significant unobservable inputs used to fair value our Level 3 nonrecurring assets, along with the valuation techniques used, are shown in the following table:
Fair value of financial instruments Because broadly traded markets do not exist for most of the Company’s financial instruments, the fair value calculations attempt to incorporate the effect of current market conditions at a specific time. These determinations are subjective in nature, involve uncertainties and matters of significant judgment and do not include tax ramifications; therefore, the results cannot be determined with precision, substantiated by comparison to independent markets and may not be realized in an actual sale or immediate settlement of the instruments. There may be inherent weaknesses in any calculation technique, and changes in the underlying assumptions used, including discount rates and estimates of future cash flows, could significantly affect the results. For all of these reasons, the aggregation of the fair value calculations presented herein do not represent, and should not be construed to represent, the underlying value of the Company. The following methods and assumptions were used to estimate the fair value of each class of financial instruments for which it is practicable to estimate that value: Cash and due from banks and interest-earning deposits with banks—The fair value of financial instruments that are short-term or reprice frequently and that have little or no risk are considered to have a fair value that approximates carrying value (Level 1). Securities available for sale—Securities at fair value, other than U.S. Treasury Notes, are priced using a combination of market activity, industry recognized information sources, yield curves, discounted cash flow models and other factors (Level 2). U.S. Treasury Notes are priced using quotes in active markets (Level 1). Federal Home Loan Bank stock—The fair value is based upon the par value of the stock which equates to its carrying value (Level 2). Loans held for sale—The carrying amount of loans held for sale approximates their fair values due to the short period of time between the origination and sale dates (Level 2). Loans—Loans are not recorded at fair value on a recurring basis. Nonrecurring fair value adjustments are periodically recorded on impaired loans that are measured for impairment based on the fair value of collateral. For most performing loans, fair value is estimated using expected duration and lending rates that would have been offered on June 30, 2016 or December 31, 2015, for loans which mirror the attributes of the loans with similar rate structures and average maturities. The fair values resulting from these calculations are reduced by an amount representing the change in estimated fair value attributable to changes in borrowers’ credit quality since the loans were originated. For nonperforming loans, fair value is estimated by applying a valuation discount based upon loan sales data from the FDIC. For PCI loans, fair value is estimated by discounting the expected future cash flows using a lending rate that would have been offered on June 30, 2016 (Level 3). FDIC loss-sharing asset —The fair value of the FDIC loss-sharing asset is estimated based on discounting the expected future cash flows using an estimated market rate (Level 3). Interest rate contracts—Interest rate swap positions are valued in discounted cash flow models, which use readily observable market parameters as their basis (Level 2). Deposits—For deposits with no contractual maturity, the fair value is equal to the carrying value (Level 1). The fair value of fixed maturity deposits is based on discounted cash flows using the difference between the deposit rate and current market rates for deposits of similar remaining maturities (Level 2). FHLB advances—The fair value of FHLB advances is estimated based on discounting the future cash flows using the market rate currently offered (Level 2). Repurchase Agreements—The fair value of term repurchase agreements is estimated based on discounting the future cash flows using the market rate currently offered. The carrying amount of sweep repurchase agreements approximates their fair values due to the short period of time between repricing dates (Level 2). Other Financial Instruments—The majority of our commitments to extend credit and standby letters of credit carry current market interest rates if converted to loans, as such, carrying value is assumed to equal fair value. The following tables summarize carrying amounts and estimated fair values of selected financial instruments as well as assumptions used by the Company in estimating fair value at June 30, 2016 and December 31, 2015:
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Earnings per Common Share |
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Earnings Per Share [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Earnings Per Common Share | Earnings per Common Share The Company applies the two-class method of computing basic and diluted EPS. Under the two-class method, EPS is determined for each class of common stock and participating security according to dividends declared and participation rights in undistributed earnings. The Company issues restricted shares under share-based compensation plans and preferred shares which qualify as participating securities. The following table sets forth the computation of basic and diluted earnings per share for the three and six months ended June 30, 2016 and 2015:
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Securities (Tables) |
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2016 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Available-for-sale Securities [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Securities Available for Sale | The following table summarizes the amortized cost, gross unrealized gains and losses and the resulting fair value of securities available for sale:
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Schedule of gross realized gains and losses on sales and calls of securities available for sale | The following table provides the gross realized gains and losses on the sales of securities for the periods indicated:
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Schedule of Contractual Maturities of Investment Securities Available for Sale | The scheduled contractual maturities of investment securities available for sale at June 30, 2016 are presented as follows:
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Carrying Value of Securities Pledged As Collateral | The following table summarizes the carrying value of securities pledged as collateral to secure public deposits, borrowings and other purposes as permitted or required by law:
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Summary of Gross Unrealized Losses and Fair Value of the Investments with Unrealized Losses | The following table shows the gross unrealized losses and fair value of the Company’s investments with unrealized losses that are not deemed to be other-than-temporarily impaired, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position at June 30, 2016 and December 31, 2015:
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Loans (Tables) |
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Jun. 30, 2016 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Financing Receivable, Recorded Investment [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Analysis of Loan Portfolio by Major Types of Loans | The following is an analysis of the loan portfolio by segment (net of unearned income):
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Loans, Excluding Purchased Credit Impaired Loans [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Financing Receivable, Recorded Investment [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Analysis of Nonaccrual Loans | The following is an analysis of nonaccrual loans as of June 30, 2016 and December 31, 2015:
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Analysis of the Aged Loan Portfolio | The following is an aging of the recorded investment of the loan portfolio as of June 30, 2016 and December 31, 2015:
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Impaired Financing Receivables | The following is an analysis of impaired loans as of June 30, 2016 and December 31, 2015:
The following table provides additional information on impaired loans for the three and six month periods indicated:
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Analysis of loans classified as Troubled Debt Restructurings (“TDR”) |
The following is an analysis of loans classified as troubled debt restructurings (“TDR”) during the three and six months ended June 30, 2016 and 2015:
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Purchased Credit Impaired Loans [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Financing Receivable, Recorded Investment [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Analysis of Loan Portfolio by Major Types of Loans | The following is an analysis of our PCI loans, net of related allowance for losses and remaining valuation discounts as of June 30, 2016 and December 31, 2015:
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Changes in Accretable Yield for Acquired Loans | The following table shows the changes in accretable yield for PCI loans for the three and six months ended June 30, 2016 and 2015:
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Allowance for Loan and Lease Losses and Unfunded Commitments and Letters of Credit (Tables) |
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2016 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Allowance for Credit Losses on Financing Receivables | The following tables show a detailed analysis of the allowance for the three and six months ended June 30, 2016 and 2015:
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Changes in the Allowance for Unfunded Commitments and Letters of Credit | Changes in the allowance for unfunded commitments and letters of credit, a component of other liabilities in the consolidated balance sheet, are summarized as follows:
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Financing Receivable Credit Quality Indicators | The following is an analysis of the credit quality of our loan portfolio, excluding PCI loans, as of June 30, 2016 and December 31, 2015:
The following is an analysis of the credit quality of our PCI loan portfolio as of June 30, 2016 and December 31, 2015:
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Other Real Estate Owned (Tables) |
6 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2016 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Real Estate, Foreclosed Assets, and Repossessed Assets [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Summary of Other Real Estate Owned | The following tables set forth activity in OREO for the three and six months ended June 30, 2016 and 2015:
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Covered Assets and FDIC Loss-sharing Asset (Tables) |
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2016 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Covered Assets And FDIC Loss Sharing Asset [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
FDIC Loss-sharing Asset | The following table shows a detailed analysis of the FDIC loss-sharing asset for the three and six months ended June 30, 2016 and 2015:
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Schedule of FDIC Loss-Sharing Agreements and Covered Assets [Table Text Block] | The following table presents information about the composition of the FDIC loss-sharing asset, the clawback liability, and the non-single family and the single family covered assets as of the date indicated:
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Goodwill and Intangible Assets (Tables) |
6 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2016 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Goodwill and Intangible Assets | The following table sets forth activity for goodwill and other intangible assets for the periods indicated:
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Estimated Future Amortization Expense of Core Deposit Intangibles | The following table provides the estimated future amortization expense of core deposit intangibles for the remaining six months ending December 31, 2016 and the succeeding four years:
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Derivatives and Balance Sheet Offsetting (Tables) |
6 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2016 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Derivative [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Balance Sheet Offsetting [Table Text Block] | The following tables show the gross interest rate swap agreements and repurchase agreements in the consolidated balance sheets and the respective collateral received or pledged in the form of other financial instruments, which are generally marketable securities. The collateral amounts in these tables are limited to the outstanding balances of the related asset or liability. Therefore, instances of overcollateralization are not shown.
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Carrying Value of Securities Pledged As Collateral | The following table summarizes the carrying value of securities pledged as collateral to secure public deposits, borrowings and other purposes as permitted or required by law:
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Not Designated as Hedging Instrument [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Derivative [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value | The following table presents the fair value of derivatives not designated as hedging instruments at June 30, 2016 and December 31, 2015:
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Available-for-sale Securities [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Derivative [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Carrying Value of Securities Pledged As Collateral |
The following table presents the class of collateral pledged for repurchase agreements as well as the remaining contractual maturity of the repurchase agreements: |
Accumulated Other Comprehensive Income (Tables) |
6 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2016 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accumulated Other Comprehensive Income (Loss) [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | The following table shows changes in accumulated other comprehensive income (loss) by component for the three and six month periods ended June 30, 2016 and 2015:
__________ (1) All amounts are net of tax. Amounts in parenthesis indicate debits. |
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Schedule of reclassifications from accumulated other comprehensive income [Table Text Block] | The following table shows details regarding the reclassifications from accumulated other comprehensive income (loss) for the three and six month periods ended June 30, 2016 and 2015:
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Fair Value Accounting and Measurement (Tables) |
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2016 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Financial Assets And Liabilities Accounted For Fair Value On Recurring Basis | The following table sets forth the Company’s financial assets and liabilities that were accounted for at fair value on a recurring basis at June 30, 2016 and December 31, 2015 by level within the fair value hierarchy. Financial assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement:
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Financial Assets Accounted For Fair Value On Nonrecurring Basis | The following tables set forth information related to the Company’s assets that were measured using fair value estimates on a nonrecurring basis during the current and prior year quarterly periods:
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Fair Value, by Balance Sheet Grouping | The following tables summarize carrying amounts and estimated fair values of selected financial instruments as well as assumptions used by the Company in estimating fair value at June 30, 2016 and December 31, 2015:
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Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value Inputs, Assets, Quantitative Information | The range and weighted-average of the significant unobservable inputs used to fair value our Level 3 nonrecurring assets, along with the valuation techniques used, are shown in the following table:
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Earnings per Common Share (Tables) |
6 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2016 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Earnings Per Share [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Basic and Diluted Earnings Per Share | The following table sets forth the computation of basic and diluted earnings per share for the three and six months ended June 30, 2016 and 2015:
__________
|
Securities (Securities Available for Sale) (Details) - USD ($) $ in Thousands |
Jun. 30, 2016 |
Dec. 31, 2015 |
---|---|---|
Schedule of Available-for-sale Securities [Line Items] | ||
Securities available-for-sale, amortized cost | $ 2,237,264 | $ 2,157,610 |
Available-for-sale Debt Securities Gross Unrealized Gain, instant | 44,694 | 18,352 |
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax | (2,406) | (18,268) |
Securities available for sale | 2,279,552 | 2,157,694 |
U.S. Government Agency and Government-Sponsored Enterprise Mortgage-Backed Securities and Collateralized Mortgage Obligations [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Securities available-for-sale, amortized cost | 1,403,591 | 1,296,955 |
Available-for-sale Debt Securities Gross Unrealized Gain, instant | 20,196 | 4,525 |
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax | (2,101) | (14,991) |
Securities available for sale | 1,421,686 | 1,286,489 |
State and Municipal Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Securities available-for-sale, amortized cost | 500,618 | 480,417 |
Available-for-sale Debt Securities Gross Unrealized Gain, instant | 17,913 | 12,690 |
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax | (166) | (938) |
Securities available for sale | 518,365 | 492,169 |
U.S. Government and Government-Sponsored Enterprise Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Securities available-for-sale, amortized cost | 327,223 | 354,515 |
Available-for-sale Debt Securities Gross Unrealized Gain, instant | 6,520 | 1,113 |
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax | 0 | (1,846) |
Securities available for sale | 333,743 | 353,782 |
US Government Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Securities available-for-sale, amortized cost | 548 | 20,439 |
Available-for-sale Debt Securities Gross Unrealized Gain, instant | 1 | 0 |
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax | 0 | (302) |
Securities available for sale | 549 | 20,137 |
Other Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Securities available-for-sale, amortized cost | 5,284 | 5,284 |
Available-for-sale Debt Securities Gross Unrealized Gain, instant | 64 | 24 |
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax | (139) | (191) |
Securities available for sale | $ 5,209 | $ 5,117 |
Securities (Schedule of Contractual Maturities of Investment Securities Available for Sale) (Details) $ in Thousands |
Jun. 30, 2016
USD ($)
|
---|---|
Available-for-sale Securities [Abstract] | |
Due within one year, Amortized Cost | $ 26,674 |
Due after one year through five years, Amortized Cost | 462,009 |
Due after five years through ten years, Amortized Cost | 698,729 |
Due after ten years, Amortized Cost | 1,044,568 |
No stated maturity date, Amortized Cost Basis | 5,284 |
Total investment securities available-for-sale, Amortized Cost | 2,237,264 |
Due within one year, Fair Value | 26,827 |
Due after one year through five years, Fair Value | 471,463 |
Due after five years through ten years, Fair Value | 716,521 |
Due after ten years, Fair Value | 1,059,532 |
No stated maturity date, Fair Value | 5,209 |
Total investment securities available-for-sale, Fair Value | $ 2,279,552 |
Securities (Carrying Value of Securities Pledged as Collateral) (Details) $ in Thousands |
Jun. 30, 2016
USD ($)
|
---|---|
Schedule of Available-for-sale Securities [Line Items] | |
Carrying amount of securities pledged as collateral | $ 594,509 |
Washington and Oregon State Public Deposits [Member] | |
Schedule of Available-for-sale Securities [Line Items] | |
Carrying amount of securities pledged as collateral | 396,321 |
Federal Reserve Bank Advances [Member] | |
Schedule of Available-for-sale Securities [Line Items] | |
Carrying amount of securities pledged as collateral | 44,079 |
Other Securities [Member] | |
Schedule of Available-for-sale Securities [Line Items] | |
Carrying amount of securities pledged as collateral | $ 154,109 |
Securities (Summary of Gross Unrealized Losses and Fair Value of the Investments with Unrealized Losses) (Details) - USD ($) $ in Thousands |
Jun. 30, 2016 |
Dec. 31, 2015 |
---|---|---|
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale Debt Securities Gross Unrealized Gain, instant | $ 44,694 | $ 18,352 |
Less than 12 Months Fair Value | 68,734 | 918,813 |
Less than 12 Months Unrealized Losses | (390) | (9,247) |
12 Months or More Fair Value | 179,436 | 298,316 |
12 Months or More Unrealized Losses | (2,016) | (9,021) |
Total Fair Value | 248,170 | 1,217,129 |
Total Unrealized Losses | (2,406) | (18,268) |
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax | 2,406 | 18,268 |
U.S. Government Agency and Government-Sponsored Enterprise Mortgage-Backed Securities and Collateralized Mortgage Obligations [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale Debt Securities Gross Unrealized Gain, instant | 20,196 | 4,525 |
Less than 12 Months Fair Value | 51,222 | 664,509 |
Less than 12 Months Unrealized Losses | (264) | (7,610) |
12 Months or More Fair Value | 170,543 | 214,325 |
12 Months or More Unrealized Losses | (1,837) | (7,381) |
Total Fair Value | 221,765 | 878,834 |
Total Unrealized Losses | (2,101) | (14,991) |
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax | 2,101 | 14,991 |
State and Municipal Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale Debt Securities Gross Unrealized Gain, instant | 17,913 | 12,690 |
Less than 12 Months Fair Value | 17,512 | 48,261 |
Less than 12 Months Unrealized Losses | (126) | (358) |
12 Months or More Fair Value | 6,077 | 31,383 |
12 Months or More Unrealized Losses | (40) | (580) |
Total Fair Value | 23,589 | 79,644 |
Total Unrealized Losses | (166) | (938) |
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax | 166 | 938 |
US Government Corporations and Agencies Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale Debt Securities Gross Unrealized Gain, instant | 6,520 | 1,113 |
Less than 12 Months Fair Value | 193,400 | |
Less than 12 Months Unrealized Losses | (1,128) | |
12 Months or More Fair Value | 40,034 | |
12 Months or More Unrealized Losses | (718) | |
Total Fair Value | 233,434 | |
Total Unrealized Losses | (1,846) | |
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax | 0 | 1,846 |
US Government Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale Debt Securities Gross Unrealized Gain, instant | 1 | 0 |
Less than 12 Months Fair Value | 10,343 | |
Less than 12 Months Unrealized Losses | (136) | |
12 Months or More Fair Value | 9,794 | |
12 Months or More Unrealized Losses | (166) | |
Total Fair Value | 20,137 | |
Total Unrealized Losses | (302) | |
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax | 0 | 302 |
Other Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale Debt Securities Gross Unrealized Gain, instant | 64 | 24 |
Less than 12 Months Fair Value | 0 | 2,300 |
Less than 12 Months Unrealized Losses | 0 | (15) |
12 Months or More Fair Value | 2,816 | 2,780 |
12 Months or More Unrealized Losses | (139) | (176) |
Total Fair Value | 2,816 | 5,080 |
Total Unrealized Losses | (139) | (191) |
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax | $ 139 | $ 191 |
Securities (Narrative) (Details) $ in Millions |
3 Months Ended | 6 Months Ended | ||
---|---|---|---|---|
Jun. 30, 2016
USD ($)
security
|
Jun. 30, 2015
USD ($)
|
Jun. 30, 2016
USD ($)
security
|
Jun. 30, 2015
USD ($)
|
|
Schedule of Available-for-sale Securities [Line Items] | ||||
Available-for-sale Securities, Gross Realized Gains (Losses), Sale Proceeds | $ | $ 44.5 | $ 14.9 | $ 83.4 | $ 72.2 |
U.S. Government Agency and Government-Sponsored Enterprise Mortgage-Backed Securities and Collateralized Mortgage Obligations [Member] | ||||
Schedule of Available-for-sale Securities [Line Items] | ||||
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions | 66 | 66 | ||
Number Of Securities In Continuous Loss Position For Twelve Months or More | 46 | 46 | ||
Municipal Bonds [Member] | ||||
Schedule of Available-for-sale Securities [Line Items] | ||||
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions | 20 | 20 | ||
Number Of Securities In Continuous Loss Position For Twelve Months or More | 10 | 10 | ||
Other Securities [Member] | ||||
Schedule of Available-for-sale Securities [Line Items] | ||||
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions | 1 | 1 | ||
Number Of Securities In Continuous Loss Position For Twelve Months or More | 1 | 1 |
Securities Securities (Summary of Gross Realized Gains and Gross Realized Losses (Details) - USD ($) $ in Thousands |
3 Months Ended | 6 Months Ended | ||
---|---|---|---|---|
Jun. 30, 2016 |
Jun. 30, 2015 |
Jun. 30, 2016 |
Jun. 30, 2015 |
|
Investments, Debt and Equity Securities [Abstract] | ||||
Available-for-sale Securities, Gross Realized Gains | $ 229 | $ 343 | $ 602 | $ 1,073 |
Available-for-sale Securities, Gross Realized Losses | 0 | 0 | 0 | (9) |
Investment securities gains, net | $ 229 | $ 343 | $ 602 | $ 1,064 |
Loans (Narrative) (Details) $ in Thousands |
6 Months Ended | |
---|---|---|
Jun. 30, 2016
USD ($)
contract
|
Dec. 31, 2015
USD ($)
|
|
Financing Receivable, Recorded Investment [Line Items] | ||
Loans to related parties | $ 10,300 | $ 10,000 |
Loans and Leases Receivable, Related Parties, Additions | 718 | |
Repayments on related party loans | $ 397 | |
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | contract | 0 | |
Loans Receivable [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Federal Home Loan Bank, Advances, General Debt Obligations, Disclosures, Collateral Pledged | $ 2,240,000 | 2,220,000 |
Federal Reserve Bank, Advances, General Debt Obligations, Disclosures, Collateral Pledged | $ 50,800 | $ 50,100 |
Loans (Analysis of Loan Portfolio by Major Types of Loans) (Details) - USD ($) $ in Thousands |
Jun. 30, 2016 |
Mar. 31, 2016 |
Dec. 31, 2015 |
Jun. 30, 2015 |
Mar. 31, 2015 |
Dec. 31, 2014 |
---|---|---|---|---|---|---|
Financing Receivable, Recorded Investment [Line Items] | ||||||
Less: unearned income on loans | $ (37,221) | $ (42,373) | ||||
Recorded Investment | 6,107,143 | 5,815,027 | ||||
Allowance for loan losses | (69,304) | $ (69,264) | (68,172) | $ (69,257) | $ (70,234) | $ (69,569) |
Loans, net | 6,037,839 | 5,746,855 | ||||
Loans held for sale | 7,649 | 4,509 | ||||
Loans, Excluding Purchased Credit Impaired Loans [Member] | ||||||
Financing Receivable, Recorded Investment [Line Items] | ||||||
Less: unearned income on loans | (37,221) | (42,373) | ||||
Recorded Investment | 5,946,036 | 5,634,121 | ||||
Allowance for loan losses | (57,523) | (54,446) | ||||
Loans, net | 5,888,513 | 5,579,675 | ||||
Loans held for sale | 7,649 | 4,509 | ||||
Loans and Leases Receivable, Gross | 5,946,036 | 5,634,121 | ||||
Purchased Credit Impaired Loans [Member] | ||||||
Financing Receivable, Recorded Investment [Line Items] | ||||||
Less: unearned income on loans | 0 | 0 | ||||
Recorded Investment | 161,107 | 180,906 | ||||
Allowance for loan losses | (11,781) | (13,726) | ||||
Loans, net | 149,326 | 167,180 | ||||
Loans held for sale | 0 | 0 | ||||
Loans and Leases Receivable, Gross | 175,598 | 197,350 | ||||
Acquisition Accounting Valuation Discount on Covered Loans | 14,491 | 16,444 | ||||
Commercial and Multifamily Residential Construction [Domain] | Purchased Credit Impaired Loans [Member] | ||||||
Financing Receivable, Recorded Investment [Line Items] | ||||||
Loans and Leases Receivable, Gross | 1,783 | 1,834 | ||||
One-to-Four Family Residential [Member] | ||||||
Financing Receivable, Recorded Investment [Line Items] | ||||||
Loans and Leases Receivable, Gross, Consumer, Mortgage | 193,712 | 200,233 | ||||
Loans and Leases Receivable, Gross, Consumer, Construction | 130,837 | 138,152 | ||||
Allowance for loan losses | (674) | (654) | (916) | (1,355) | (1,364) | (2,281) |
One-to-Four Family Residential [Member] | Loans, Excluding Purchased Credit Impaired Loans [Member] | ||||||
Financing Receivable, Recorded Investment [Line Items] | ||||||
Loans and Leases Receivable, Gross, Consumer, Mortgage | 172,957 | 176,295 | ||||
Loans and Leases Receivable, Gross, Consumer, Construction | 129,195 | 135,874 | ||||
Loans and Leases Receivable, Gross | 170,172 | 173,436 | ||||
One-to-Four Family Residential [Member] | Purchased Credit Impaired Loans [Member] | ||||||
Financing Receivable, Recorded Investment [Line Items] | ||||||
Loans and Leases Receivable, Gross, Consumer, Mortgage | 20,755 | 23,938 | ||||
Loans and Leases Receivable, Gross, Consumer, Construction | 1,642 | 2,278 | ||||
Loans and Leases Receivable, Gross | 23,708 | 27,195 | ||||
Commercial and Multifamily Residential [Member] | ||||||
Financing Receivable, Recorded Investment [Line Items] | ||||||
Loans Receivable, Gross, Commercial, Mortgage | 2,746,040 | 2,591,125 | ||||
Loans Receivable, Gross, Commercial, Construction | 186,917 | 169,043 | ||||
Commercial and Multifamily Residential [Member] | Loans, Excluding Purchased Credit Impaired Loans [Member] | ||||||
Financing Receivable, Recorded Investment [Line Items] | ||||||
Loans Receivable, Gross, Commercial, Mortgage | 2,651,476 | 2,491,736 | ||||
Loans Receivable, Gross, Commercial, Construction | 185,315 | 167,413 | ||||
Commercial and Multifamily Residential [Member] | Purchased Credit Impaired Loans [Member] | ||||||
Financing Receivable, Recorded Investment [Line Items] | ||||||
Loans Receivable, Gross, Commercial, Mortgage | 94,564 | 99,389 | ||||
Loans Receivable, Gross, Commercial, Construction | 1,602 | 1,630 | ||||
Loans and Leases Receivable, Gross | 101,201 | 106,308 | ||||
Commercial Portfolio Segment [Member] | ||||||
Financing Receivable, Recorded Investment [Line Items] | ||||||
Loans Receivable, Gross, Commercial and Industrial | 2,544,227 | 2,397,423 | ||||
Commercial Portfolio Segment [Member] | Loans, Excluding Purchased Credit Impaired Loans [Member] | ||||||
Financing Receivable, Recorded Investment [Line Items] | ||||||
Loans Receivable, Gross, Commercial and Industrial | 2,518,682 | 2,362,575 | ||||
Commercial Portfolio Segment [Member] | Purchased Credit Impaired Loans [Member] | ||||||
Financing Receivable, Recorded Investment [Line Items] | ||||||
Loans Receivable, Gross, Commercial and Industrial | 25,545 | 34,848 | ||||
Loans and Leases Receivable, Gross | 28,449 | 38,784 | ||||
Real Estate Portfolio Segment [Member] | ||||||
Financing Receivable, Recorded Investment [Line Items] | ||||||
Loans Receivable Real Estate Mortgage | 2,939,752 | 2,791,358 | ||||
Real Estate Portfolio Segment [Member] | Loans, Excluding Purchased Credit Impaired Loans [Member] | ||||||
Financing Receivable, Recorded Investment [Line Items] | ||||||
Loans Receivable Real Estate Mortgage | 2,824,433 | 2,668,031 | ||||
Real Estate Portfolio Segment [Member] | Purchased Credit Impaired Loans [Member] | ||||||
Financing Receivable, Recorded Investment [Line Items] | ||||||
Loans Receivable Real Estate Mortgage | 115,319 | 123,327 | ||||
Loans and Leases Receivable, Gross | 124,909 | 133,503 | ||||
One-to-Four Family Residential Construction [Domain] | Purchased Credit Impaired Loans [Member] | ||||||
Financing Receivable, Recorded Investment [Line Items] | ||||||
Loans and Leases Receivable, Gross | 1,660 | 2,326 | ||||
Real Estate Construction Portfolio Segment [Member] | ||||||
Financing Receivable, Recorded Investment [Line Items] | ||||||
Loans Receivable Real Estate Construction | 317,754 | 307,195 | ||||
Real Estate Construction Portfolio Segment [Member] | Loans, Excluding Purchased Credit Impaired Loans [Member] | ||||||
Financing Receivable, Recorded Investment [Line Items] | ||||||
Loans Receivable Real Estate Construction | 314,510 | 303,287 | ||||
Real Estate Construction Portfolio Segment [Member] | Purchased Credit Impaired Loans [Member] | ||||||
Financing Receivable, Recorded Investment [Line Items] | ||||||
Loans Receivable Real Estate Construction | 3,244 | 3,908 | ||||
Loans and Leases Receivable, Gross | 3,443 | 4,160 | ||||
Consumer Portfolio Segment [Member] | ||||||
Financing Receivable, Recorded Investment [Line Items] | ||||||
Loans and Leases Receivable, Gross, Consumer | 342,631 | 361,424 | ||||
Allowance for loan losses | (3,560) | $ (3,368) | (3,531) | $ (3,182) | $ (2,835) | $ (3,180) |
Consumer Portfolio Segment [Member] | Loans, Excluding Purchased Credit Impaired Loans [Member] | ||||||
Financing Receivable, Recorded Investment [Line Items] | ||||||
Loans and Leases Receivable, Gross, Consumer | 325,632 | 342,601 | ||||
Loans and Leases Receivable, Gross | 318,458 | 332,362 | ||||
Consumer Portfolio Segment [Member] | Purchased Credit Impaired Loans [Member] | ||||||
Financing Receivable, Recorded Investment [Line Items] | ||||||
Loans and Leases Receivable, Gross, Consumer | 16,999 | 18,823 | ||||
Loans and Leases Receivable, Gross | $ 18,797 | $ 20,903 |
Loans (Analysis of Nonaccrual Loans) (Details) - USD ($) $ in Thousands |
Jun. 30, 2016 |
Dec. 31, 2015 |
---|---|---|
Financing Receivable, Recorded Investment [Line Items] | ||
Recorded Investment Nonaccrual Loans | $ 22,915 | $ 21,464 |
Unpaid Principal Balance Nonaccrual Loans | 36,071 | 32,263 |
Consumer Portfolio Segment [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Recorded Investment Nonaccrual Loans | 4,014 | 766 |
Unpaid Principal Balance Nonaccrual Loans | 4,251 | 990 |
Secured Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Recorded Investment Nonaccrual Loans | 9,478 | 9,395 |
Unpaid Principal Balance Nonaccrual Loans | 18,488 | 15,688 |
Unsecured Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Recorded Investment Nonaccrual Loans | 70 | 42 |
Unpaid Principal Balance Nonaccrual Loans | 300 | 256 |
One-to-Four Family Residential [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Recorded Investment Nonaccrual Loans | 957 | 820 |
Unpaid Principal Balance Nonaccrual Loans | 2,006 | 1,866 |
Commercial Land [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Recorded Investment Nonaccrual Loans | 1,135 | 349 |
Unpaid Principal Balance Nonaccrual Loans | 1,123 | 332 |
Income Property Multifamily [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Recorded Investment Nonaccrual Loans | 880 | 2,843 |
Unpaid Principal Balance Nonaccrual Loans | 1,010 | 3,124 |
Owner Occupied [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Recorded Investment Nonaccrual Loans | 5,819 | 6,321 |
Unpaid Principal Balance Nonaccrual Loans | 8,331 | 8,943 |
Land And Acquisition [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Recorded Investment Nonaccrual Loans | 0 | 362 |
Unpaid Principal Balance Nonaccrual Loans | 0 | 385 |
Residential Construction [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Recorded Investment Nonaccrual Loans | 562 | 566 |
Unpaid Principal Balance Nonaccrual Loans | $ 562 | $ 679 |
Loans (Analysis of the Aged Loan Portfolio) (Details) - USD ($) $ in Thousands |
Jun. 30, 2016 |
Dec. 31, 2015 |
---|---|---|
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual Loans | $ 22,915 | $ 21,464 |
Loans, Excluding Purchased Credit Impaired Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current Loans | 5,906,608 | 5,592,208 |
Past Due Loans | 16,513 | 20,449 |
Nonaccrual Loans | 22,915 | 21,464 |
Loans Receivable, Net | 5,946,036 | 5,634,121 |
Secured Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual Loans | 9,478 | 9,395 |
Secured Loans [Member] | Loans, Excluding Purchased Credit Impaired Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current Loans | 2,403,126 | 2,241,069 |
Past Due Loans | 4,817 | 12,228 |
Nonaccrual Loans | 9,478 | 9,395 |
Loans Receivable, Net | 2,417,421 | 2,262,692 |
Unsecured Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual Loans | 70 | 42 |
Unsecured Loans [Member] | Loans, Excluding Purchased Credit Impaired Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current Loans | 96,789 | 94,867 |
Past Due Loans | 31 | 39 |
Nonaccrual Loans | 70 | 42 |
Loans Receivable, Net | 96,890 | 94,948 |
One-to-Four Family Residential [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual Loans | 957 | 820 |
One-to-Four Family Residential [Member] | Loans, Excluding Purchased Credit Impaired Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current Loans | 166,399 | 170,913 |
Past Due Loans | 2,816 | 1,703 |
Nonaccrual Loans | 957 | 820 |
Loans Receivable, Net | 170,172 | 173,436 |
Commercial Land [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual Loans | 1,135 | 349 |
Commercial Land [Member] | Loans, Excluding Purchased Credit Impaired Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current Loans | 233,072 | 212,740 |
Past Due Loans | 0 | 69 |
Nonaccrual Loans | 1,135 | 349 |
Loans Receivable, Net | 234,207 | 213,158 |
Income Property Multifamily [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual Loans | 880 | 2,843 |
Income Property Multifamily [Member] | Loans, Excluding Purchased Credit Impaired Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current Loans | 1,365,929 | 1,305,502 |
Past Due Loans | 5,298 | 2,434 |
Nonaccrual Loans | 880 | 2,843 |
Loans Receivable, Net | 1,372,107 | 1,310,779 |
Owner Occupied [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual Loans | 5,819 | 6,321 |
Owner Occupied [Member] | Loans, Excluding Purchased Credit Impaired Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current Loans | 1,017,728 | 939,396 |
Past Due Loans | 899 | 599 |
Nonaccrual Loans | 5,819 | 6,321 |
Loans Receivable, Net | 1,024,446 | 946,316 |
Land And Acquisition [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual Loans | 0 | 362 |
Land And Acquisition [Member] | Loans, Excluding Purchased Credit Impaired Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current Loans | 10,708 | 14,388 |
Past Due Loans | 0 | 0 |
Nonaccrual Loans | 0 | 362 |
Loans Receivable, Net | 10,708 | 14,750 |
Residential Construction [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual Loans | 562 | 566 |
Residential Construction [Member] | Loans, Excluding Purchased Credit Impaired Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current Loans | 117,302 | 119,809 |
Past Due Loans | 0 | 0 |
Nonaccrual Loans | 562 | 566 |
Loans Receivable, Net | 117,864 | 120,375 |
Income Property Multifamily Construction [Member] | Loans, Excluding Purchased Credit Impaired Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current Loans | 78,867 | 83,634 |
Past Due Loans | 0 | 0 |
Nonaccrual Loans | 0 | 0 |
Loans Receivable, Net | 78,867 | 83,634 |
Owner Occupied Construction [Member] | Loans, Excluding Purchased Credit Impaired Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current Loans | 104,896 | 81,671 |
Past Due Loans | 0 | 0 |
Nonaccrual Loans | 0 | 0 |
Loans Receivable, Net | 104,896 | 81,671 |
Consumer Portfolio Segment [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual Loans | 4,014 | 766 |
Consumer Portfolio Segment [Member] | Loans, Excluding Purchased Credit Impaired Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current Loans | 311,792 | 328,219 |
Past Due Loans | 2,652 | 3,377 |
Nonaccrual Loans | 4,014 | 766 |
Loans Receivable, Net | 318,458 | 332,362 |
Financing Receivables, 60 to 89 Days Past Due [Member] | Loans, Excluding Purchased Credit Impaired Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due Loans | 3,446 | 2,147 |
Financing Receivables, 60 to 89 Days Past Due [Member] | Secured Loans [Member] | Loans, Excluding Purchased Credit Impaired Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due Loans | 1,278 | 617 |
Financing Receivables, 60 to 89 Days Past Due [Member] | Unsecured Loans [Member] | Loans, Excluding Purchased Credit Impaired Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due Loans | 0 | 0 |
Financing Receivables, 60 to 89 Days Past Due [Member] | One-to-Four Family Residential [Member] | Loans, Excluding Purchased Credit Impaired Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due Loans | 35 | 66 |
Financing Receivables, 60 to 89 Days Past Due [Member] | Commercial Land [Member] | Loans, Excluding Purchased Credit Impaired Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due Loans | 0 | 0 |
Financing Receivables, 60 to 89 Days Past Due [Member] | Income Property Multifamily [Member] | Loans, Excluding Purchased Credit Impaired Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due Loans | 0 | 684 |
Financing Receivables, 60 to 89 Days Past Due [Member] | Owner Occupied [Member] | Loans, Excluding Purchased Credit Impaired Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due Loans | 374 | 0 |
Financing Receivables, 60 to 89 Days Past Due [Member] | Land And Acquisition [Member] | Loans, Excluding Purchased Credit Impaired Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due Loans | 0 | 0 |
Financing Receivables, 60 to 89 Days Past Due [Member] | Residential Construction [Member] | Loans, Excluding Purchased Credit Impaired Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due Loans | 0 | 0 |
Financing Receivables, 60 to 89 Days Past Due [Member] | Income Property Multifamily Construction [Member] | Loans, Excluding Purchased Credit Impaired Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due Loans | 0 | 0 |
Financing Receivables, 60 to 89 Days Past Due [Member] | Owner Occupied Construction [Member] | Loans, Excluding Purchased Credit Impaired Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due Loans | 0 | 0 |
Financing Receivables, 60 to 89 Days Past Due [Member] | Consumer Portfolio Segment [Member] | Loans, Excluding Purchased Credit Impaired Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due Loans | 1,759 | 780 |
Financing Receivables, 30 to 59 Days Past Due [Member] | Loans, Excluding Purchased Credit Impaired Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due Loans | 13,067 | 18,302 |
Financing Receivables, 30 to 59 Days Past Due [Member] | Secured Loans [Member] | Loans, Excluding Purchased Credit Impaired Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due Loans | 3,539 | 11,611 |
Financing Receivables, 30 to 59 Days Past Due [Member] | Unsecured Loans [Member] | Loans, Excluding Purchased Credit Impaired Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due Loans | 31 | 39 |
Financing Receivables, 30 to 59 Days Past Due [Member] | One-to-Four Family Residential [Member] | Loans, Excluding Purchased Credit Impaired Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due Loans | 2,781 | 1,637 |
Financing Receivables, 30 to 59 Days Past Due [Member] | Commercial Land [Member] | Loans, Excluding Purchased Credit Impaired Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due Loans | 0 | 69 |
Financing Receivables, 30 to 59 Days Past Due [Member] | Income Property Multifamily [Member] | Loans, Excluding Purchased Credit Impaired Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due Loans | 5,298 | 1,750 |
Financing Receivables, 30 to 59 Days Past Due [Member] | Owner Occupied [Member] | Loans, Excluding Purchased Credit Impaired Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due Loans | 525 | 599 |
Financing Receivables, 30 to 59 Days Past Due [Member] | Land And Acquisition [Member] | Loans, Excluding Purchased Credit Impaired Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due Loans | 0 | 0 |
Financing Receivables, 30 to 59 Days Past Due [Member] | Residential Construction [Member] | Loans, Excluding Purchased Credit Impaired Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due Loans | 0 | 0 |
Financing Receivables, 30 to 59 Days Past Due [Member] | Income Property Multifamily Construction [Member] | Loans, Excluding Purchased Credit Impaired Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due Loans | 0 | 0 |
Financing Receivables, 30 to 59 Days Past Due [Member] | Owner Occupied Construction [Member] | Loans, Excluding Purchased Credit Impaired Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due Loans | 0 | 0 |
Financing Receivables, 30 to 59 Days Past Due [Member] | Consumer Portfolio Segment [Member] | Loans, Excluding Purchased Credit Impaired Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due Loans | 893 | 2,597 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Loans, Excluding Purchased Credit Impaired Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due Loans | 0 | 0 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Secured Loans [Member] | Loans, Excluding Purchased Credit Impaired Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due Loans | 0 | 0 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Unsecured Loans [Member] | Loans, Excluding Purchased Credit Impaired Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due Loans | 0 | 0 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | One-to-Four Family Residential [Member] | Loans, Excluding Purchased Credit Impaired Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due Loans | 0 | 0 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Commercial Land [Member] | Loans, Excluding Purchased Credit Impaired Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due Loans | 0 | 0 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Income Property Multifamily [Member] | Loans, Excluding Purchased Credit Impaired Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due Loans | 0 | 0 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Owner Occupied [Member] | Loans, Excluding Purchased Credit Impaired Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due Loans | 0 | 0 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Land And Acquisition [Member] | Loans, Excluding Purchased Credit Impaired Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due Loans | 0 | 0 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Residential Construction [Member] | Loans, Excluding Purchased Credit Impaired Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due Loans | 0 | 0 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Income Property Multifamily Construction [Member] | Loans, Excluding Purchased Credit Impaired Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due Loans | 0 | 0 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Owner Occupied Construction [Member] | Loans, Excluding Purchased Credit Impaired Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due Loans | 0 | 0 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Consumer Portfolio Segment [Member] | Loans, Excluding Purchased Credit Impaired Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due Loans | $ 0 | $ 0 |
Loans (Analysis of Impaired Loans) (Details) - Loans, Excluding Purchased Credit Impaired Loans [Member] - USD ($) $ in Thousands |
3 Months Ended | 6 Months Ended | |||
---|---|---|---|---|---|
Jun. 30, 2016 |
Jun. 30, 2015 |
Jun. 30, 2016 |
Jun. 30, 2015 |
Dec. 31, 2015 |
|
Financing Receivable, Recorded Investment [Line Items] | |||||
Recorded Investment of Loans Collectively Measured for Contingency Provision | $ 5,927,172 | $ 5,927,172 | $ 5,618,041 | ||
Recorded Investment of Loans Individually Measured for Specific Impairment | 18,864 | 18,864 | 16,080 | ||
Recorded Investment | 12,959 | 12,959 | 14,726 | ||
Unpaid Principal Balance | 17,601 | 17,601 | 19,547 | ||
Related Allowance | 2,705 | 2,705 | 653 | ||
Average Recorded Investment Impaired Loans | 23,840 | $ 24,401 | 21,253 | $ 25,634 | |
Interest Recognized on Impaired Loans | 48 | 280 | 74 | 545 | |
Secured Loans [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Recorded Investment of Loans Collectively Measured for Contingency Provision | 2,410,385 | 2,410,385 | 2,257,168 | ||
Recorded Investment of Loans Individually Measured for Specific Impairment | 7,036 | 7,036 | 5,524 | ||
Recorded Investment | 3,320 | 3,320 | 690 | ||
Unpaid Principal Balance | 6,570 | 6,570 | 718 | ||
Related Allowance | 2,486 | 2,486 | 321 | ||
Average Recorded Investment Impaired Loans | 12,859 | 9,231 | 10,414 | 9,662 | |
Interest Recognized on Impaired Loans | 20 | 8 | 33 | 15 | |
Unsecured Loans [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Recorded Investment of Loans Collectively Measured for Contingency Provision | 96,890 | 96,890 | 94,948 | ||
Recorded Investment of Loans Individually Measured for Specific Impairment | 0 | 0 | 0 | ||
Recorded Investment | 0 | 0 | 0 | ||
Unpaid Principal Balance | 0 | 0 | 0 | ||
Related Allowance | 0 | 0 | 0 | ||
Average Recorded Investment Impaired Loans | 0 | 0 | 0 | 1 | |
Interest Recognized on Impaired Loans | 0 | 0 | 0 | 0 | |
One-to-Four Family Residential [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Recorded Investment of Loans Collectively Measured for Contingency Provision | 169,484 | 169,484 | 172,150 | ||
Recorded Investment of Loans Individually Measured for Specific Impairment | 688 | 688 | 1,286 | ||
Recorded Investment | 89 | 89 | 314 | ||
Unpaid Principal Balance | 108 | 108 | 339 | ||
Related Allowance | 1 | 1 | 314 | ||
Average Recorded Investment Impaired Loans | 676 | 4,180 | 879 | 3,502 | |
Interest Recognized on Impaired Loans | (3) | 11 | 3 | 24 | |
Commercial Land [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Recorded Investment of Loans Collectively Measured for Contingency Provision | 233,499 | 233,499 | 213,158 | ||
Recorded Investment of Loans Individually Measured for Specific Impairment | 708 | 708 | 0 | ||
Recorded Investment | 0 | 0 | 0 | ||
Unpaid Principal Balance | 0 | 0 | 0 | ||
Related Allowance | 0 | 0 | 0 | ||
Average Recorded Investment Impaired Loans | 354 | 235 | 236 | 157 | |
Interest Recognized on Impaired Loans | 0 | 0 | 0 | 0 | |
Income Property Multifamily [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Recorded Investment of Loans Collectively Measured for Contingency Provision | 1,370,662 | 1,370,662 | 1,308,673 | ||
Recorded Investment of Loans Individually Measured for Specific Impairment | 1,445 | 1,445 | 2,106 | ||
Recorded Investment | 636 | 636 | 0 | ||
Unpaid Principal Balance | 687 | 687 | 0 | ||
Related Allowance | 100 | 100 | 0 | ||
Average Recorded Investment Impaired Loans | 1,749 | 1,966 | 1,868 | 3,427 | |
Interest Recognized on Impaired Loans | 10 | 23 | 14 | 33 | |
Owner Occupied [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Recorded Investment of Loans Collectively Measured for Contingency Provision | 1,019,219 | 1,019,219 | 940,261 | ||
Recorded Investment of Loans Individually Measured for Specific Impairment | 5,227 | 5,227 | 6,055 | ||
Recorded Investment | 0 | 0 | 0 | ||
Unpaid Principal Balance | 0 | 0 | 0 | ||
Related Allowance | 0 | 0 | 0 | ||
Average Recorded Investment Impaired Loans | 5,102 | 6,567 | 5,420 | 7,326 | |
Interest Recognized on Impaired Loans | 0 | 235 | 0 | 468 | |
Land And Acquisition [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Recorded Investment of Loans Collectively Measured for Contingency Provision | 10,605 | 10,605 | 14,283 | ||
Recorded Investment of Loans Individually Measured for Specific Impairment | 103 | 103 | 467 | ||
Recorded Investment | 0 | 0 | 0 | ||
Unpaid Principal Balance | 0 | 0 | 0 | ||
Related Allowance | 0 | 0 | 0 | ||
Average Recorded Investment Impaired Loans | 206 | 974 | 293 | 686 | |
Interest Recognized on Impaired Loans | 1 | 2 | 3 | 3 | |
Residential Construction [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Recorded Investment of Loans Collectively Measured for Contingency Provision | 117,302 | 117,302 | 119,813 | ||
Recorded Investment of Loans Individually Measured for Specific Impairment | 562 | 562 | 562 | ||
Recorded Investment | 0 | 0 | 335 | ||
Unpaid Principal Balance | 0 | 0 | 335 | ||
Related Allowance | 0 | 0 | 3 | ||
Average Recorded Investment Impaired Loans | 562 | 893 | 562 | 595 | |
Interest Recognized on Impaired Loans | 0 | 0 | 0 | 0 | |
Income Property Multifamily Construction [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Recorded Investment of Loans Collectively Measured for Contingency Provision | 78,867 | 78,867 | 83,634 | ||
Recorded Investment of Loans Individually Measured for Specific Impairment | 0 | 0 | 0 | ||
Recorded Investment | 0 | 0 | 0 | ||
Unpaid Principal Balance | 0 | 0 | 0 | ||
Related Allowance | 0 | 0 | 0 | ||
Owner Occupied Construction [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Recorded Investment of Loans Collectively Measured for Contingency Provision | 104,896 | 104,896 | 81,671 | ||
Recorded Investment of Loans Individually Measured for Specific Impairment | 0 | 0 | 0 | ||
Recorded Investment | 0 | 0 | 0 | ||
Unpaid Principal Balance | 0 | 0 | 0 | ||
Related Allowance | 0 | 0 | 0 | ||
Consumer Portfolio Segment [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Recorded Investment of Loans Collectively Measured for Contingency Provision | 315,363 | 315,363 | 332,282 | ||
Recorded Investment of Loans Individually Measured for Specific Impairment | 3,095 | 3,095 | 80 | ||
Recorded Investment | 1,860 | 1,860 | 15 | ||
Unpaid Principal Balance | 1,870 | 1,870 | 15 | ||
Related Allowance | 118 | 118 | 15 | ||
Average Recorded Investment Impaired Loans | 2,332 | 355 | 1,581 | 278 | |
Interest Recognized on Impaired Loans | 20 | $ 1 | 21 | $ 2 | |
Impaired Loans With Recorded Allowance [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Recorded Investment | 5,905 | 5,905 | 1,354 | ||
Unpaid Principal Balance | 9,235 | 9,235 | 1,407 | ||
Impaired Loans Without Recorded Allowance [Member] | Secured Loans [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Recorded Investment | 3,716 | 3,716 | 4,834 | ||
Unpaid Principal Balance | 5,337 | 5,337 | 6,455 | ||
Impaired Loans Without Recorded Allowance [Member] | Unsecured Loans [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Recorded Investment | 0 | 0 | 0 | ||
Unpaid Principal Balance | 0 | 0 | 0 | ||
Impaired Loans Without Recorded Allowance [Member] | One-to-Four Family Residential [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Recorded Investment | 599 | 599 | 972 | ||
Unpaid Principal Balance | 1,011 | 1,011 | 1,397 | ||
Impaired Loans Without Recorded Allowance [Member] | Commercial Land [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Recorded Investment | 708 | 708 | 0 | ||
Unpaid Principal Balance | 687 | 687 | 0 | ||
Impaired Loans Without Recorded Allowance [Member] | Income Property Multifamily [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Recorded Investment | 809 | 809 | 2,106 | ||
Unpaid Principal Balance | 918 | 918 | 2,311 | ||
Impaired Loans Without Recorded Allowance [Member] | Owner Occupied [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Recorded Investment | 5,227 | 5,227 | 6,055 | ||
Unpaid Principal Balance | 7,664 | 7,664 | 8,528 | ||
Impaired Loans Without Recorded Allowance [Member] | Land And Acquisition [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Recorded Investment | 103 | 103 | 467 | ||
Unpaid Principal Balance | 103 | 103 | 490 | ||
Impaired Loans Without Recorded Allowance [Member] | Residential Construction [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Recorded Investment | 562 | 562 | 227 | ||
Unpaid Principal Balance | 562 | 562 | 227 | ||
Impaired Loans Without Recorded Allowance [Member] | Income Property Multifamily Construction [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Recorded Investment | 0 | 0 | 0 | ||
Unpaid Principal Balance | 0 | 0 | 0 | ||
Impaired Loans Without Recorded Allowance [Member] | Owner Occupied Construction [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Recorded Investment | 0 | 0 | 0 | ||
Unpaid Principal Balance | 0 | 0 | 0 | ||
Impaired Loans Without Recorded Allowance [Member] | Consumer Portfolio Segment [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Recorded Investment | 1,235 | 1,235 | 65 | ||
Unpaid Principal Balance | $ 1,319 | $ 1,319 | $ 139 |
Loans Loans (Analysis of Troubled Debt Restructurings) (Details) $ in Thousands |
3 Months Ended | 6 Months Ended | |||
---|---|---|---|---|---|
Jun. 30, 2016
USD ($)
Modifications
|
Jun. 30, 2015
USD ($)
Modifications
|
Jun. 30, 2016
USD ($)
Modifications
|
Jun. 30, 2015
USD ($)
Modifications
|
Dec. 31, 2015
USD ($)
|
|
Financing Receivable, Modifications [Line Items] | |||||
Financing Receivable Modifications Additional Commitment To Lend | $ 19 | $ 19 | $ 0 | ||
Loans, Excluding Purchased Credit Impaired Loans [Member] | |||||
Financing Receivable, Modifications [Line Items] | |||||
Financing Receivable, Modifications, Number of Contracts | Modifications | 17 | 1 | 25 | 1 | |
Financing Receivable, Modifications, Pre-Modification Recorded Investment | $ 2,537 | $ 30 | $ 4,654 | $ 30 | |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 2,537 | $ 30 | $ 4,654 | $ 30 | |
Loans, Excluding Purchased Credit Impaired Loans [Member] | Secured Loans [Member] | |||||
Financing Receivable, Modifications [Line Items] | |||||
Financing Receivable, Modifications, Number of Contracts | Modifications | 2 | 0 | 5 | 0 | |
Financing Receivable, Modifications, Pre-Modification Recorded Investment | $ 293 | $ 0 | $ 1,663 | $ 0 | |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 293 | $ 0 | $ 1,663 | $ 0 | |
Loans, Excluding Purchased Credit Impaired Loans [Member] | One-to-Four Family Residential [Member] | |||||
Financing Receivable, Modifications [Line Items] | |||||
Financing Receivable, Modifications, Number of Contracts | Modifications | 0 | 1 | 0 | 1 | |
Financing Receivable, Modifications, Pre-Modification Recorded Investment | $ 0 | $ 30 | $ 0 | $ 30 | |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 0 | $ 30 | $ 0 | $ 30 | |
Loans, Excluding Purchased Credit Impaired Loans [Member] | Owner Occupied [Member] | |||||
Financing Receivable, Modifications [Line Items] | |||||
Financing Receivable, Modifications, Number of Contracts | Modifications | 1 | 0 | 2 | 0 | |
Financing Receivable, Modifications, Pre-Modification Recorded Investment | $ 30 | $ 0 | $ 280 | $ 0 | |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 30 | $ 0 | $ 280 | $ 0 | |
Loans, Excluding Purchased Credit Impaired Loans [Member] | Consumer Portfolio Segment [Member] | |||||
Financing Receivable, Modifications [Line Items] | |||||
Financing Receivable, Modifications, Number of Contracts | Modifications | 14 | 0 | 18 | 0 | |
Financing Receivable, Modifications, Pre-Modification Recorded Investment | $ 2,214 | $ 0 | $ 2,711 | $ 0 | |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 2,214 | $ 0 | $ 2,711 | $ 0 |
Loans Loans (Analysis of Purchased Credit Impaired Loans - Accretable Yield Rollforward) (Details) - USD ($) $ in Thousands |
3 Months Ended | 6 Months Ended | ||||||
---|---|---|---|---|---|---|---|---|
Jun. 30, 2016 |
Jun. 30, 2015 |
Jun. 30, 2016 |
Jun. 30, 2015 |
Mar. 31, 2016 |
Dec. 31, 2015 |
Mar. 31, 2015 |
Dec. 31, 2014 |
|
Loans, Analysis of Purchased Credit Impaired Loans, Accretable Yield Rollforward [Abstract] | ||||||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield | $ 52,909 | $ 67,283 | $ 52,909 | $ 67,283 | $ 56,607 | $ 58,981 | $ 68,726 | $ 73,849 |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield, Accretion | 3,774 | 5,737 | 8,003 | 12,056 | ||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield, Disposals of Loans | (149) | 959 | (1,910) | 2,052 | ||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield, Reclassifications from Nonaccretable Difference | $ (73) | $ 5,253 | $ 21 | $ 7,542 |
Allowance for Loan and Lease Losses and Unfunded Commitments and Letters of Credit (Narrative) (Details) - USD ($) $ in Thousands |
3 Months Ended | 6 Months Ended | ||
---|---|---|---|---|
Jun. 30, 2016 |
Jun. 30, 2015 |
Jun. 30, 2016 |
Jun. 30, 2015 |
|
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Provision for loan and lease losses | $ 3,640 | $ 2,202 | $ 8,894 | $ 3,411 |
Maximum [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Percentage of unallocated loan amount | 5.00% |
Allowance for Loan and Lease Losses and Unfunded Commitments and Letters of Credit (Allowance for Loan and Lease Losses) (Details) - USD ($) $ in Thousands |
3 Months Ended | 6 Months Ended | ||
---|---|---|---|---|
Jun. 30, 2016 |
Jun. 30, 2015 |
Jun. 30, 2016 |
Jun. 30, 2015 |
|
Allowance for Loan and Lease Losses [Roll Forward] | ||||
Beginning balance | $ 69,264 | $ 70,234 | $ 68,172 | $ 69,569 |
Charged-offs | (6,234) | (5,613) | (13,139) | (12,038) |
Recoveries | 2,634 | 2,434 | 5,377 | 8,315 |
Provision for loan and lease losses | 3,640 | 2,202 | 8,894 | 3,411 |
Ending balance | 69,304 | 69,257 | 69,304 | 69,257 |
Specific Reserve | 2,705 | 1,358 | 2,705 | 1,358 |
General Allocation | 66,599 | 67,899 | 66,599 | 67,899 |
Secured Loans [Member] | ||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||
Beginning balance | 32,114 | 25,761 | 32,321 | 25,923 |
Charged-offs | (2,900) | (2,022) | (6,670) | (3,408) |
Recoveries | 728 | 200 | 1,339 | 712 |
Provision for loan and lease losses | 1,866 | 3,769 | 4,818 | 4,481 |
Ending balance | 31,808 | 27,708 | 31,808 | 27,708 |
Specific Reserve | 2,486 | 1,161 | 2,486 | 1,161 |
General Allocation | 29,322 | 26,547 | 29,322 | 26,547 |
Unsecured Loans [Member] | ||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||
Beginning balance | 1,300 | 1,012 | 1,299 | 927 |
Charged-offs | (41) | (64) | (44) | (104) |
Recoveries | 25 | 9 | 76 | 115 |
Provision for loan and lease losses | (19) | (100) | (66) | (81) |
Ending balance | 1,265 | 857 | 1,265 | 857 |
Specific Reserve | 0 | 0 | 0 | 0 |
General Allocation | 1,265 | 857 | 1,265 | 857 |
One-to-Four Family Residential [Member] | ||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||
Beginning balance | 654 | 1,364 | 916 | 2,281 |
Charged-offs | (35) | (289) | (35) | (297) |
Recoveries | 20 | 15 | 61 | 27 |
Provision for loan and lease losses | 35 | 265 | (268) | (656) |
Ending balance | 674 | 1,355 | 674 | 1,355 |
Specific Reserve | 1 | 111 | 1 | 111 |
General Allocation | 673 | 1,244 | 673 | 1,244 |
Commercial Land [Member] | ||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||
Beginning balance | 1,262 | 827 | 1,178 | 799 |
Charged-offs | (26) | 0 | (26) | 0 |
Recoveries | 2 | 0 | 2 | 0 |
Provision for loan and lease losses | 184 | 754 | 268 | 782 |
Ending balance | 1,422 | 1,581 | 1,422 | 1,581 |
Specific Reserve | 0 | 0 | 0 | 0 |
General Allocation | 1,422 | 1,581 | 1,422 | 1,581 |
Income Property Multifamily [Member] | ||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||
Beginning balance | 7,402 | 8,440 | 6,616 | 9,159 |
Charged-offs | 0 | (43) | 0 | (43) |
Recoveries | 120 | 7 | 181 | 3,259 |
Provision for loan and lease losses | 524 | (207) | 1,249 | (4,178) |
Ending balance | 8,046 | 8,197 | 8,046 | 8,197 |
Specific Reserve | 100 | 0 | 100 | 0 |
General Allocation | 7,946 | 8,197 | 7,946 | 8,197 |
Owner Occupied [Member] | ||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||
Beginning balance | 6,086 | 5,612 | 5,550 | 5,007 |
Charged-offs | 0 | 0 | 0 | 0 |
Recoveries | 8 | 13 | 16 | 22 |
Provision for loan and lease losses | 242 | 176 | 770 | 772 |
Ending balance | 6,336 | 5,801 | 6,336 | 5,801 |
Specific Reserve | 0 | 20 | 0 | 20 |
General Allocation | 6,336 | 5,781 | 6,336 | 5,781 |
Land And Acquisition [Member] | ||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||
Beginning balance | 640 | 1,026 | 339 | 1,197 |
Charged-offs | 0 | 0 | 0 | 0 |
Recoveries | 2 | 1 | 53 | 3 |
Provision for loan and lease losses | (55) | (530) | 195 | (703) |
Ending balance | 587 | 497 | 587 | 497 |
Specific Reserve | 0 | 66 | 0 | 66 |
General Allocation | 587 | 431 | 587 | 431 |
Residential Construction [Member] | ||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||
Beginning balance | 1,449 | 1,790 | 733 | 1,860 |
Charged-offs | 0 | 0 | 0 | 0 |
Recoveries | 3 | 7 | 206 | 33 |
Provision for loan and lease losses | (76) | (839) | 437 | (935) |
Ending balance | 1,376 | 958 | 1,376 | 958 |
Specific Reserve | 0 | 0 | 0 | 0 |
General Allocation | 1,376 | 958 | 1,376 | 958 |
Income Property Multifamily Construction [Member] | ||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||
Beginning balance | 715 | 827 | 388 | 622 |
Charged-offs | 0 | 0 | 0 | 0 |
Recoveries | 1 | 2 | 2 | 5 |
Provision for loan and lease losses | 188 | (422) | 514 | (220) |
Ending balance | 904 | 407 | 904 | 407 |
Specific Reserve | 0 | 0 | 0 | 0 |
General Allocation | 904 | 407 | 904 | 407 |
Owner Occupied Construction [Member] | ||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||
Beginning balance | 1,210 | 499 | 1,006 | 434 |
Charged-offs | 0 | 0 | 0 | 0 |
Recoveries | 0 | 0 | 0 | 0 |
Provision for loan and lease losses | 174 | (58) | 378 | 7 |
Ending balance | 1,384 | 441 | 1,384 | 441 |
Specific Reserve | 0 | 0 | 0 | 0 |
General Allocation | 1,384 | 441 | 1,384 | 441 |
Consumer Portfolio Segment [Member] | ||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||
Beginning balance | 3,368 | 2,835 | 3,531 | 3,180 |
Charged-offs | (334) | (319) | (600) | (1,210) |
Recoveries | 201 | 137 | 366 | 410 |
Provision for loan and lease losses | 325 | 529 | 263 | 802 |
Ending balance | 3,560 | 3,182 | 3,560 | 3,182 |
Specific Reserve | 118 | 0 | 118 | 0 |
General Allocation | 3,442 | 3,182 | 3,442 | 3,182 |
Purchased Credit Impaired Loans [Member] | ||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||
Beginning balance | 13,064 | 16,531 | 13,726 | 16,336 |
Charged-offs | (2,898) | (2,876) | (5,764) | (6,976) |
Recoveries | 1,524 | 2,043 | 3,075 | 3,729 |
Provision for loan and lease losses | 91 | 476 | 744 | 3,085 |
Ending balance | 11,781 | 16,174 | 11,781 | 16,174 |
Specific Reserve | 0 | 0 | 0 | 0 |
General Allocation | 11,781 | 16,174 | 11,781 | 16,174 |
Unallocated Financing Receivables [Member] | ||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||
Beginning balance | 0 | 3,710 | 569 | 1,844 |
Charged-offs | 0 | 0 | 0 | 0 |
Recoveries | 0 | 0 | 0 | 0 |
Provision for loan and lease losses | 161 | (1,611) | (408) | 255 |
Ending balance | 161 | 2,099 | 161 | 2,099 |
Specific Reserve | 0 | 0 | 0 | 0 |
General Allocation | $ 161 | $ 2,099 | $ 161 | $ 2,099 |
Allowance for Loan and Lease Losses and Unfunded Commitments and Letters of Credit (Changes in the Allowance for Unfunded Commitments and Letters of Credit) (Details) - USD ($) $ in Thousands |
3 Months Ended | 6 Months Ended | ||
---|---|---|---|---|
Jun. 30, 2016 |
Jun. 30, 2015 |
Jun. 30, 2016 |
Jun. 30, 2015 |
|
Allowance For Loan And Lease Losses And Unfunded Loan Commitments And Letters Of Credit | ||||
Beginning balance | $ 2,930 | $ 2,655 | $ 2,930 | $ 2,655 |
Allowance for Loan and Lease Losses, Net Changes In Unfunded Commitments and Letters Of Credit Allowance | (150) | 275 | (150) | 275 |
Ending balance | $ 2,780 | $ 2,930 | $ 2,780 | $ 2,930 |
Allowance for Loan and Lease Losses and Unfunded Commitments and Letters of Credit (Analysis of Credit Quality of the Loan Portfolio) (Details) - USD ($) $ in Thousands |
Jun. 30, 2016 |
Mar. 31, 2016 |
Dec. 31, 2015 |
Jun. 30, 2015 |
Mar. 31, 2015 |
Dec. 31, 2014 |
---|---|---|---|---|---|---|
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Less: allowance for loan and lease losses | $ 69,304 | $ 69,264 | $ 68,172 | $ 69,257 | $ 70,234 | $ 69,569 |
Loans, net | 6,037,839 | 5,746,855 | ||||
Loans, Excluding Purchased Credit Impaired Loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans and Leases Receivable, Gross, Carrying Amount | 5,946,036 | 5,634,121 | ||||
Less: allowance for loan and lease losses | 57,523 | 54,446 | ||||
Loans, net | 5,888,513 | 5,579,675 | ||||
Purchased Credit Impaired Loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans and Leases Receivable, Gross, Carrying Amount | 175,598 | 197,350 | ||||
Acquisition Accounting Valuation Discount on Purchased Credit Impaired Loans | 14,491 | 16,444 | ||||
Less: allowance for loan and lease losses | 11,781 | 13,726 | ||||
Loans, net | 149,326 | 167,180 | ||||
Pass [Member] | Loans, Excluding Purchased Credit Impaired Loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans and Leases Receivable, Gross, Carrying Amount | 5,755,775 | 5,461,639 | ||||
Pass [Member] | Purchased Credit Impaired Loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans and Leases Receivable, Gross, Carrying Amount | 163,104 | 178,904 | ||||
Special Mention [Member] | Loans, Excluding Purchased Credit Impaired Loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans and Leases Receivable, Gross, Carrying Amount | 106,235 | 80,599 | ||||
Special Mention [Member] | Purchased Credit Impaired Loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans and Leases Receivable, Gross, Carrying Amount | 96 | 362 | ||||
Substandard [Member] | Loans, Excluding Purchased Credit Impaired Loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans and Leases Receivable, Gross, Carrying Amount | 84,026 | 91,883 | ||||
Substandard [Member] | Purchased Credit Impaired Loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans and Leases Receivable, Gross, Carrying Amount | 12,398 | 18,084 | ||||
Doubtful [Member] | Loans, Excluding Purchased Credit Impaired Loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans and Leases Receivable, Gross, Carrying Amount | 0 | 0 | ||||
Doubtful [Member] | Purchased Credit Impaired Loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans and Leases Receivable, Gross, Carrying Amount | 0 | 0 | ||||
Unlikely to be Collected Financing Receivable [Member] | Loans, Excluding Purchased Credit Impaired Loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans and Leases Receivable, Gross, Carrying Amount | 0 | 0 | ||||
Unlikely to be Collected Financing Receivable [Member] | Purchased Credit Impaired Loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans and Leases Receivable, Gross, Carrying Amount | 0 | 0 | ||||
Secured Loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Less: allowance for loan and lease losses | 31,808 | 32,114 | 32,321 | 27,708 | 25,761 | 25,923 |
Secured Loans [Member] | Loans, Excluding Purchased Credit Impaired Loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans and Leases Receivable, Gross, Carrying Amount | 2,417,421 | 2,262,692 | ||||
Secured Loans [Member] | Purchased Credit Impaired Loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans and Leases Receivable, Gross, Carrying Amount | 27,529 | 37,564 | ||||
Secured Loans [Member] | Pass [Member] | Loans, Excluding Purchased Credit Impaired Loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans and Leases Receivable, Gross, Carrying Amount | 2,297,510 | 2,146,729 | ||||
Secured Loans [Member] | Pass [Member] | Purchased Credit Impaired Loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans and Leases Receivable, Gross, Carrying Amount | 24,135 | 31,468 | ||||
Secured Loans [Member] | Special Mention [Member] | Loans, Excluding Purchased Credit Impaired Loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans and Leases Receivable, Gross, Carrying Amount | 76,014 | 59,746 | ||||
Secured Loans [Member] | Special Mention [Member] | Purchased Credit Impaired Loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans and Leases Receivable, Gross, Carrying Amount | 96 | 101 | ||||
Secured Loans [Member] | Substandard [Member] | Loans, Excluding Purchased Credit Impaired Loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans and Leases Receivable, Gross, Carrying Amount | 43,897 | 56,217 | ||||
Secured Loans [Member] | Substandard [Member] | Purchased Credit Impaired Loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans and Leases Receivable, Gross, Carrying Amount | 3,298 | 5,995 | ||||
Secured Loans [Member] | Doubtful [Member] | Loans, Excluding Purchased Credit Impaired Loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans and Leases Receivable, Gross, Carrying Amount | 0 | 0 | ||||
Secured Loans [Member] | Doubtful [Member] | Purchased Credit Impaired Loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans and Leases Receivable, Gross, Carrying Amount | 0 | 0 | ||||
Secured Loans [Member] | Unlikely to be Collected Financing Receivable [Member] | Loans, Excluding Purchased Credit Impaired Loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans and Leases Receivable, Gross, Carrying Amount | 0 | 0 | ||||
Secured Loans [Member] | Unlikely to be Collected Financing Receivable [Member] | Purchased Credit Impaired Loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans and Leases Receivable, Gross, Carrying Amount | 0 | 0 | ||||
Unsecured Loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Less: allowance for loan and lease losses | 1,265 | 1,300 | 1,299 | 857 | 1,012 | 927 |
Unsecured Loans [Member] | Loans, Excluding Purchased Credit Impaired Loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans and Leases Receivable, Gross, Carrying Amount | 96,890 | 94,948 | ||||
Unsecured Loans [Member] | Purchased Credit Impaired Loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans and Leases Receivable, Gross, Carrying Amount | 920 | 1,220 | ||||
Unsecured Loans [Member] | Pass [Member] | Loans, Excluding Purchased Credit Impaired Loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans and Leases Receivable, Gross, Carrying Amount | 96,551 | 93,347 | ||||
Unsecured Loans [Member] | Pass [Member] | Purchased Credit Impaired Loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans and Leases Receivable, Gross, Carrying Amount | 919 | 1,218 | ||||
Unsecured Loans [Member] | Special Mention [Member] | Loans, Excluding Purchased Credit Impaired Loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans and Leases Receivable, Gross, Carrying Amount | 277 | 278 | ||||
Unsecured Loans [Member] | Special Mention [Member] | Purchased Credit Impaired Loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans and Leases Receivable, Gross, Carrying Amount | 0 | 0 | ||||
Unsecured Loans [Member] | Substandard [Member] | Loans, Excluding Purchased Credit Impaired Loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans and Leases Receivable, Gross, Carrying Amount | 62 | 1,323 | ||||
Unsecured Loans [Member] | Substandard [Member] | Purchased Credit Impaired Loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans and Leases Receivable, Gross, Carrying Amount | 1 | 2 | ||||
Unsecured Loans [Member] | Doubtful [Member] | Loans, Excluding Purchased Credit Impaired Loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans and Leases Receivable, Gross, Carrying Amount | 0 | 0 | ||||
Unsecured Loans [Member] | Doubtful [Member] | Purchased Credit Impaired Loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans and Leases Receivable, Gross, Carrying Amount | 0 | 0 | ||||
Unsecured Loans [Member] | Unlikely to be Collected Financing Receivable [Member] | Loans, Excluding Purchased Credit Impaired Loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans and Leases Receivable, Gross, Carrying Amount | 0 | 0 | ||||
Unsecured Loans [Member] | Unlikely to be Collected Financing Receivable [Member] | Purchased Credit Impaired Loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans and Leases Receivable, Gross, Carrying Amount | 0 | 0 | ||||
One-to-Four Family Residential [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Less: allowance for loan and lease losses | 674 | 654 | 916 | 1,355 | 1,364 | 2,281 |
One-to-Four Family Residential [Member] | Loans, Excluding Purchased Credit Impaired Loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans and Leases Receivable, Gross, Carrying Amount | 170,172 | 173,436 | ||||
One-to-Four Family Residential [Member] | Purchased Credit Impaired Loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans and Leases Receivable, Gross, Carrying Amount | 23,708 | 27,195 | ||||
One-to-Four Family Residential [Member] | Pass [Member] | Loans, Excluding Purchased Credit Impaired Loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans and Leases Receivable, Gross, Carrying Amount | 168,559 | 171,945 | ||||
One-to-Four Family Residential [Member] | Pass [Member] | Purchased Credit Impaired Loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans and Leases Receivable, Gross, Carrying Amount | 21,966 | 25,018 | ||||
One-to-Four Family Residential [Member] | Special Mention [Member] | Loans, Excluding Purchased Credit Impaired Loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans and Leases Receivable, Gross, Carrying Amount | 514 | 52 | ||||
One-to-Four Family Residential [Member] | Special Mention [Member] | Purchased Credit Impaired Loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans and Leases Receivable, Gross, Carrying Amount | 0 | 0 | ||||
One-to-Four Family Residential [Member] | Substandard [Member] | Loans, Excluding Purchased Credit Impaired Loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans and Leases Receivable, Gross, Carrying Amount | 1,099 | 1,439 | ||||
One-to-Four Family Residential [Member] | Substandard [Member] | Purchased Credit Impaired Loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans and Leases Receivable, Gross, Carrying Amount | 1,742 | 2,177 | ||||
One-to-Four Family Residential [Member] | Doubtful [Member] | Loans, Excluding Purchased Credit Impaired Loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans and Leases Receivable, Gross, Carrying Amount | 0 | 0 | ||||
One-to-Four Family Residential [Member] | Doubtful [Member] | Purchased Credit Impaired Loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans and Leases Receivable, Gross, Carrying Amount | 0 | 0 | ||||
One-to-Four Family Residential [Member] | Unlikely to be Collected Financing Receivable [Member] | Loans, Excluding Purchased Credit Impaired Loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans and Leases Receivable, Gross, Carrying Amount | 0 | 0 | ||||
One-to-Four Family Residential [Member] | Unlikely to be Collected Financing Receivable [Member] | Purchased Credit Impaired Loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans and Leases Receivable, Gross, Carrying Amount | 0 | 0 | ||||
Commercial Land [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Less: allowance for loan and lease losses | 1,422 | 1,262 | 1,178 | 1,581 | 827 | 799 |
Commercial Land [Member] | Loans, Excluding Purchased Credit Impaired Loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans and Leases Receivable, Gross, Carrying Amount | 234,207 | 213,158 | ||||
Commercial Land [Member] | Purchased Credit Impaired Loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans and Leases Receivable, Gross, Carrying Amount | 8,272 | 8,898 | ||||
Commercial Land [Member] | Pass [Member] | Loans, Excluding Purchased Credit Impaired Loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans and Leases Receivable, Gross, Carrying Amount | 227,322 | 207,768 | ||||
Commercial Land [Member] | Pass [Member] | Purchased Credit Impaired Loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans and Leases Receivable, Gross, Carrying Amount | 7,877 | 8,234 | ||||
Commercial Land [Member] | Special Mention [Member] | Loans, Excluding Purchased Credit Impaired Loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans and Leases Receivable, Gross, Carrying Amount | 6,544 | 4,966 | ||||
Commercial Land [Member] | Special Mention [Member] | Purchased Credit Impaired Loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans and Leases Receivable, Gross, Carrying Amount | 0 | 0 | ||||
Commercial Land [Member] | Substandard [Member] | Loans, Excluding Purchased Credit Impaired Loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans and Leases Receivable, Gross, Carrying Amount | 341 | 424 | ||||
Commercial Land [Member] | Substandard [Member] | Purchased Credit Impaired Loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans and Leases Receivable, Gross, Carrying Amount | 395 | 664 | ||||
Commercial Land [Member] | Doubtful [Member] | Loans, Excluding Purchased Credit Impaired Loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans and Leases Receivable, Gross, Carrying Amount | 0 | 0 | ||||
Commercial Land [Member] | Doubtful [Member] | Purchased Credit Impaired Loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans and Leases Receivable, Gross, Carrying Amount | 0 | 0 | ||||
Commercial Land [Member] | Unlikely to be Collected Financing Receivable [Member] | Loans, Excluding Purchased Credit Impaired Loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans and Leases Receivable, Gross, Carrying Amount | 0 | 0 | ||||
Commercial Land [Member] | Unlikely to be Collected Financing Receivable [Member] | Purchased Credit Impaired Loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans and Leases Receivable, Gross, Carrying Amount | 0 | 0 | ||||
Income Property Multifamily [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Less: allowance for loan and lease losses | 8,046 | 7,402 | 6,616 | 8,197 | 8,440 | 9,159 |
Income Property Multifamily [Member] | Loans, Excluding Purchased Credit Impaired Loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans and Leases Receivable, Gross, Carrying Amount | 1,372,107 | 1,310,779 | ||||
Income Property Multifamily [Member] | Purchased Credit Impaired Loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans and Leases Receivable, Gross, Carrying Amount | 35,389 | 42,342 | ||||
Income Property Multifamily [Member] | Pass [Member] | Loans, Excluding Purchased Credit Impaired Loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans and Leases Receivable, Gross, Carrying Amount | 1,344,005 | 1,296,043 | ||||
Income Property Multifamily [Member] | Pass [Member] | Purchased Credit Impaired Loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans and Leases Receivable, Gross, Carrying Amount | 30,893 | 36,426 | ||||
Income Property Multifamily [Member] | Special Mention [Member] | Loans, Excluding Purchased Credit Impaired Loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans and Leases Receivable, Gross, Carrying Amount | 17,095 | 5,889 | ||||
Income Property Multifamily [Member] | Special Mention [Member] | Purchased Credit Impaired Loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans and Leases Receivable, Gross, Carrying Amount | 0 | 0 | ||||
Income Property Multifamily [Member] | Substandard [Member] | Loans, Excluding Purchased Credit Impaired Loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans and Leases Receivable, Gross, Carrying Amount | 11,007 | 8,847 | ||||
Income Property Multifamily [Member] | Substandard [Member] | Purchased Credit Impaired Loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans and Leases Receivable, Gross, Carrying Amount | 4,496 | 5,916 | ||||
Income Property Multifamily [Member] | Doubtful [Member] | Loans, Excluding Purchased Credit Impaired Loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans and Leases Receivable, Gross, Carrying Amount | 0 | 0 | ||||
Income Property Multifamily [Member] | Doubtful [Member] | Purchased Credit Impaired Loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans and Leases Receivable, Gross, Carrying Amount | 0 | 0 | ||||
Income Property Multifamily [Member] | Unlikely to be Collected Financing Receivable [Member] | Loans, Excluding Purchased Credit Impaired Loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans and Leases Receivable, Gross, Carrying Amount | 0 | 0 | ||||
Income Property Multifamily [Member] | Unlikely to be Collected Financing Receivable [Member] | Purchased Credit Impaired Loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans and Leases Receivable, Gross, Carrying Amount | 0 | 0 | ||||
Owner Occupied [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Less: allowance for loan and lease losses | 6,336 | 6,086 | 5,550 | 5,801 | 5,612 | 5,007 |
Owner Occupied [Member] | Loans, Excluding Purchased Credit Impaired Loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans and Leases Receivable, Gross, Carrying Amount | 1,024,446 | 946,316 | ||||
Owner Occupied [Member] | Purchased Credit Impaired Loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans and Leases Receivable, Gross, Carrying Amount | 57,540 | 55,068 | ||||
Owner Occupied [Member] | Pass [Member] | Loans, Excluding Purchased Credit Impaired Loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans and Leases Receivable, Gross, Carrying Amount | 1,005,059 | 918,986 | ||||
Owner Occupied [Member] | Pass [Member] | Purchased Credit Impaired Loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans and Leases Receivable, Gross, Carrying Amount | 55,866 | 53,071 | ||||
Owner Occupied [Member] | Special Mention [Member] | Loans, Excluding Purchased Credit Impaired Loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans and Leases Receivable, Gross, Carrying Amount | 5,791 | 9,668 | ||||
Owner Occupied [Member] | Special Mention [Member] | Purchased Credit Impaired Loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans and Leases Receivable, Gross, Carrying Amount | 0 | 261 | ||||
Owner Occupied [Member] | Substandard [Member] | Loans, Excluding Purchased Credit Impaired Loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans and Leases Receivable, Gross, Carrying Amount | 13,596 | 17,662 | ||||
Owner Occupied [Member] | Substandard [Member] | Purchased Credit Impaired Loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans and Leases Receivable, Gross, Carrying Amount | 1,674 | 1,736 | ||||
Owner Occupied [Member] | Doubtful [Member] | Loans, Excluding Purchased Credit Impaired Loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans and Leases Receivable, Gross, Carrying Amount | 0 | 0 | ||||
Owner Occupied [Member] | Doubtful [Member] | Purchased Credit Impaired Loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans and Leases Receivable, Gross, Carrying Amount | 0 | 0 | ||||
Owner Occupied [Member] | Unlikely to be Collected Financing Receivable [Member] | Loans, Excluding Purchased Credit Impaired Loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans and Leases Receivable, Gross, Carrying Amount | 0 | 0 | ||||
Owner Occupied [Member] | Unlikely to be Collected Financing Receivable [Member] | Purchased Credit Impaired Loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans and Leases Receivable, Gross, Carrying Amount | 0 | 0 | ||||
Land And Acquisition [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Less: allowance for loan and lease losses | 587 | 640 | 339 | 497 | 1,026 | 1,197 |
Land And Acquisition [Member] | Loans, Excluding Purchased Credit Impaired Loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans and Leases Receivable, Gross, Carrying Amount | 10,708 | 14,750 | ||||
Land And Acquisition [Member] | Purchased Credit Impaired Loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans and Leases Receivable, Gross, Carrying Amount | 938 | 1,565 | ||||
Land And Acquisition [Member] | Pass [Member] | Loans, Excluding Purchased Credit Impaired Loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans and Leases Receivable, Gross, Carrying Amount | 10,708 | 14,388 | ||||
Land And Acquisition [Member] | Pass [Member] | Purchased Credit Impaired Loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans and Leases Receivable, Gross, Carrying Amount | 794 | 1,086 | ||||
Land And Acquisition [Member] | Special Mention [Member] | Loans, Excluding Purchased Credit Impaired Loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans and Leases Receivable, Gross, Carrying Amount | 0 | 0 | ||||
Land And Acquisition [Member] | Special Mention [Member] | Purchased Credit Impaired Loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans and Leases Receivable, Gross, Carrying Amount | 0 | 0 | ||||
Land And Acquisition [Member] | Substandard [Member] | Loans, Excluding Purchased Credit Impaired Loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans and Leases Receivable, Gross, Carrying Amount | 0 | 362 | ||||
Land And Acquisition [Member] | Substandard [Member] | Purchased Credit Impaired Loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans and Leases Receivable, Gross, Carrying Amount | 144 | 479 | ||||
Land And Acquisition [Member] | Doubtful [Member] | Loans, Excluding Purchased Credit Impaired Loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans and Leases Receivable, Gross, Carrying Amount | 0 | 0 | ||||
Land And Acquisition [Member] | Doubtful [Member] | Purchased Credit Impaired Loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans and Leases Receivable, Gross, Carrying Amount | 0 | 0 | ||||
Land And Acquisition [Member] | Unlikely to be Collected Financing Receivable [Member] | Loans, Excluding Purchased Credit Impaired Loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans and Leases Receivable, Gross, Carrying Amount | 0 | 0 | ||||
Land And Acquisition [Member] | Unlikely to be Collected Financing Receivable [Member] | Purchased Credit Impaired Loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans and Leases Receivable, Gross, Carrying Amount | 0 | 0 | ||||
Residential Construction [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Less: allowance for loan and lease losses | 1,376 | 1,449 | 733 | 958 | 1,790 | 1,860 |
Residential Construction [Member] | Loans, Excluding Purchased Credit Impaired Loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans and Leases Receivable, Gross, Carrying Amount | 117,864 | 120,375 | ||||
Residential Construction [Member] | Purchased Credit Impaired Loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans and Leases Receivable, Gross, Carrying Amount | 722 | 761 | ||||
Residential Construction [Member] | Pass [Member] | Loans, Excluding Purchased Credit Impaired Loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans and Leases Receivable, Gross, Carrying Amount | 117,022 | 119,243 | ||||
Residential Construction [Member] | Pass [Member] | Purchased Credit Impaired Loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans and Leases Receivable, Gross, Carrying Amount | 401 | 427 | ||||
Residential Construction [Member] | Special Mention [Member] | Loans, Excluding Purchased Credit Impaired Loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans and Leases Receivable, Gross, Carrying Amount | 0 | 0 | ||||
Residential Construction [Member] | Special Mention [Member] | Purchased Credit Impaired Loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans and Leases Receivable, Gross, Carrying Amount | 0 | 0 | ||||
Residential Construction [Member] | Substandard [Member] | Loans, Excluding Purchased Credit Impaired Loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans and Leases Receivable, Gross, Carrying Amount | 842 | 1,132 | ||||
Residential Construction [Member] | Substandard [Member] | Purchased Credit Impaired Loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans and Leases Receivable, Gross, Carrying Amount | 321 | 334 | ||||
Residential Construction [Member] | Doubtful [Member] | Loans, Excluding Purchased Credit Impaired Loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans and Leases Receivable, Gross, Carrying Amount | 0 | 0 | ||||
Residential Construction [Member] | Doubtful [Member] | Purchased Credit Impaired Loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans and Leases Receivable, Gross, Carrying Amount | 0 | 0 | ||||
Residential Construction [Member] | Unlikely to be Collected Financing Receivable [Member] | Loans, Excluding Purchased Credit Impaired Loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans and Leases Receivable, Gross, Carrying Amount | 0 | 0 | ||||
Residential Construction [Member] | Unlikely to be Collected Financing Receivable [Member] | Purchased Credit Impaired Loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans and Leases Receivable, Gross, Carrying Amount | 0 | 0 | ||||
Income Property Multifamily Construction [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Less: allowance for loan and lease losses | 904 | 715 | 388 | 407 | 827 | 622 |
Income Property Multifamily Construction [Member] | Loans, Excluding Purchased Credit Impaired Loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans and Leases Receivable, Gross, Carrying Amount | 78,867 | 83,634 | ||||
Income Property Multifamily Construction [Member] | Purchased Credit Impaired Loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans and Leases Receivable, Gross, Carrying Amount | 1,263 | 1,303 | ||||
Income Property Multifamily Construction [Member] | Pass [Member] | Loans, Excluding Purchased Credit Impaired Loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans and Leases Receivable, Gross, Carrying Amount | 78,867 | 83,634 | ||||
Income Property Multifamily Construction [Member] | Pass [Member] | Purchased Credit Impaired Loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans and Leases Receivable, Gross, Carrying Amount | 1,263 | 1,303 | ||||
Income Property Multifamily Construction [Member] | Special Mention [Member] | Loans, Excluding Purchased Credit Impaired Loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans and Leases Receivable, Gross, Carrying Amount | 0 | 0 | ||||
Income Property Multifamily Construction [Member] | Special Mention [Member] | Purchased Credit Impaired Loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans and Leases Receivable, Gross, Carrying Amount | 0 | 0 | ||||
Income Property Multifamily Construction [Member] | Substandard [Member] | Loans, Excluding Purchased Credit Impaired Loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans and Leases Receivable, Gross, Carrying Amount | 0 | 0 | ||||
Income Property Multifamily Construction [Member] | Substandard [Member] | Purchased Credit Impaired Loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans and Leases Receivable, Gross, Carrying Amount | 0 | 0 | ||||
Income Property Multifamily Construction [Member] | Doubtful [Member] | Loans, Excluding Purchased Credit Impaired Loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans and Leases Receivable, Gross, Carrying Amount | 0 | 0 | ||||
Income Property Multifamily Construction [Member] | Doubtful [Member] | Purchased Credit Impaired Loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans and Leases Receivable, Gross, Carrying Amount | 0 | 0 | ||||
Income Property Multifamily Construction [Member] | Unlikely to be Collected Financing Receivable [Member] | Loans, Excluding Purchased Credit Impaired Loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans and Leases Receivable, Gross, Carrying Amount | 0 | 0 | ||||
Income Property Multifamily Construction [Member] | Unlikely to be Collected Financing Receivable [Member] | Purchased Credit Impaired Loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans and Leases Receivable, Gross, Carrying Amount | 0 | 0 | ||||
Owner Occupied Construction [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Less: allowance for loan and lease losses | 1,384 | 1,210 | 1,006 | 441 | 499 | 434 |
Owner Occupied Construction [Member] | Loans, Excluding Purchased Credit Impaired Loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans and Leases Receivable, Gross, Carrying Amount | 104,896 | 81,671 | ||||
Owner Occupied Construction [Member] | Purchased Credit Impaired Loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans and Leases Receivable, Gross, Carrying Amount | 520 | 531 | ||||
Owner Occupied Construction [Member] | Pass [Member] | Loans, Excluding Purchased Credit Impaired Loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans and Leases Receivable, Gross, Carrying Amount | 100,341 | 81,270 | ||||
Owner Occupied Construction [Member] | Pass [Member] | Purchased Credit Impaired Loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans and Leases Receivable, Gross, Carrying Amount | 520 | 531 | ||||
Owner Occupied Construction [Member] | Special Mention [Member] | Loans, Excluding Purchased Credit Impaired Loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans and Leases Receivable, Gross, Carrying Amount | 0 | 0 | ||||
Owner Occupied Construction [Member] | Special Mention [Member] | Purchased Credit Impaired Loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans and Leases Receivable, Gross, Carrying Amount | 0 | 0 | ||||
Owner Occupied Construction [Member] | Substandard [Member] | Loans, Excluding Purchased Credit Impaired Loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans and Leases Receivable, Gross, Carrying Amount | 4,555 | 401 | ||||
Owner Occupied Construction [Member] | Substandard [Member] | Purchased Credit Impaired Loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans and Leases Receivable, Gross, Carrying Amount | 0 | 0 | ||||
Owner Occupied Construction [Member] | Doubtful [Member] | Loans, Excluding Purchased Credit Impaired Loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans and Leases Receivable, Gross, Carrying Amount | 0 | 0 | ||||
Owner Occupied Construction [Member] | Doubtful [Member] | Purchased Credit Impaired Loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans and Leases Receivable, Gross, Carrying Amount | 0 | 0 | ||||
Owner Occupied Construction [Member] | Unlikely to be Collected Financing Receivable [Member] | Loans, Excluding Purchased Credit Impaired Loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans and Leases Receivable, Gross, Carrying Amount | 0 | 0 | ||||
Owner Occupied Construction [Member] | Unlikely to be Collected Financing Receivable [Member] | Purchased Credit Impaired Loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans and Leases Receivable, Gross, Carrying Amount | 0 | 0 | ||||
Consumer Portfolio Segment [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Less: allowance for loan and lease losses | 3,560 | $ 3,368 | 3,531 | $ 3,182 | $ 2,835 | $ 3,180 |
Consumer Portfolio Segment [Member] | Loans, Excluding Purchased Credit Impaired Loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans and Leases Receivable, Gross, Carrying Amount | 318,458 | 332,362 | ||||
Consumer Portfolio Segment [Member] | Purchased Credit Impaired Loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans and Leases Receivable, Gross, Carrying Amount | 18,797 | 20,903 | ||||
Consumer Portfolio Segment [Member] | Pass [Member] | Loans, Excluding Purchased Credit Impaired Loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans and Leases Receivable, Gross, Carrying Amount | 309,831 | 328,286 | ||||
Consumer Portfolio Segment [Member] | Pass [Member] | Purchased Credit Impaired Loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans and Leases Receivable, Gross, Carrying Amount | 18,470 | 20,122 | ||||
Consumer Portfolio Segment [Member] | Special Mention [Member] | Loans, Excluding Purchased Credit Impaired Loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans and Leases Receivable, Gross, Carrying Amount | 0 | 0 | ||||
Consumer Portfolio Segment [Member] | Special Mention [Member] | Purchased Credit Impaired Loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans and Leases Receivable, Gross, Carrying Amount | 0 | 0 | ||||
Consumer Portfolio Segment [Member] | Substandard [Member] | Loans, Excluding Purchased Credit Impaired Loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans and Leases Receivable, Gross, Carrying Amount | 8,627 | 4,076 | ||||
Consumer Portfolio Segment [Member] | Substandard [Member] | Purchased Credit Impaired Loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans and Leases Receivable, Gross, Carrying Amount | 327 | 781 | ||||
Consumer Portfolio Segment [Member] | Doubtful [Member] | Loans, Excluding Purchased Credit Impaired Loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans and Leases Receivable, Gross, Carrying Amount | 0 | 0 | ||||
Consumer Portfolio Segment [Member] | Doubtful [Member] | Purchased Credit Impaired Loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans and Leases Receivable, Gross, Carrying Amount | 0 | 0 | ||||
Consumer Portfolio Segment [Member] | Unlikely to be Collected Financing Receivable [Member] | Loans, Excluding Purchased Credit Impaired Loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans and Leases Receivable, Gross, Carrying Amount | 0 | 0 | ||||
Consumer Portfolio Segment [Member] | Unlikely to be Collected Financing Receivable [Member] | Purchased Credit Impaired Loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans and Leases Receivable, Gross, Carrying Amount | $ 0 | $ 0 |
Other Real Estate Owned (Summary of Other Real Estate Owned) (Details) - USD ($) $ in Thousands |
3 Months Ended | 6 Months Ended | ||
---|---|---|---|---|
Jun. 30, 2016 |
Jun. 30, 2015 |
Jun. 30, 2016 |
Jun. 30, 2015 |
|
Other Real Estate Owned [Line Items] | ||||
Balance, beginning of period | $ 12,427 | $ 23,299 | $ 13,738 | $ 22,190 |
Transfers in | 206 | 3,143 | 311 | 7,836 |
Valuation adjustments | (139) | (596) | (276) | (793) |
Proceeds from Sale of OREO Property | 1,950 | 6,484 | 3,276 | 11,608 |
Gain on sale of OREO, net | 69 | 1,255 | 116 | 2,992 |
Total OREO, end of period | 10,613 | $ 20,617 | 10,613 | $ 20,617 |
Mortgage Loans in Process of Foreclosure, Amount | 658 | 658 | ||
One-to-Four Family Residential [Member] | ||||
Other Real Estate Owned [Line Items] | ||||
Total OREO, end of period | $ 2,500 | $ 2,500 |
Covered Assets and FDIC Loss-sharing Asset (Narrative) (Details) $ in Thousands |
6 Months Ended |
---|---|
Jun. 30, 2016
USD ($)
| |
Covered Assets And FDIC Loss Sharing Asset [Line Items] | |
Amount of Estimated Clawback Liability | $ 5,433 |
Payment Of Clawback If Losses Less Than Stated Levels, Period After Acquisition | 10 years 45 days |
Federal deposit insurance corporation loss-sharing indemnified assets | $ 3,200 |
Federal deposit insurance corporation loss-sharing indemnified assets receivable | $ 1,100 |
Maximum [Member] | |
Covered Assets And FDIC Loss Sharing Asset [Line Items] | |
Loss Sharing Agreement Effective Years | 10 years |
Loss Recovery Provision Effective Years | 10 years |
Minimum [Member] | |
Covered Assets And FDIC Loss Sharing Asset [Line Items] | |
Loss Sharing Agreement Effective Years | 5 years |
Loss Recovery Provision Effective Years | 8 years |
Covered Loans [Member] | |
Covered Assets And FDIC Loss Sharing Asset [Line Items] | |
Percentage of loss shared by FDIC | 80.00% |
FDIC Percentage Of Loss Recoveries | 80.00% |
Percentage of loss shared by FDIC When Loss Share Thresholds Met | 95.00% |
Percentage Of Loss Recoveries Shared By FDIC When Loss Share Thresholds Met | 95.00% |
Covered Assets and FDIC Loss-sharing Asset (FDIC Loss-sharing Asset) (Details) - USD ($) $ in Thousands |
3 Months Ended | 6 Months Ended | ||
---|---|---|---|---|
Jun. 30, 2016 |
Jun. 30, 2015 |
Jun. 30, 2016 |
Jun. 30, 2015 |
|
Covered Assets And FDIC Loss Sharing Asset [Line Items] | ||||
Balance at beginning of period | $ 5,954 | $ 14,644 | $ 6,568 | $ 15,174 |
Cash received from the FDIC, net | (396) | (2,862) | (43) | (3,522) |
FDIC reimbursable losses, net | (302) | (944) | (166) | (964) |
Amortization, net | (883) | (1,376) | (2,215) | (3,670) |
Loan impairment (recapture) | (20) | 1 | 127 | 1,532 |
Sale of other real estate | (24) | (208) | 120 | (627) |
Valuation adjustments of other real estate | (40) | 52 | (22) | 1,124 |
Other | 23 | (37) | 103 | (297) |
Balance at end of period | 4,266 | $ 9,344 | 4,266 | $ 9,344 |
Amount of Estimated Clawback Liability | 5,433 | 5,433 | ||
Non-Single Family Covered Assets | 93,972 | 93,972 | ||
Single Family Covered Assets | 35,075 | 35,075 | ||
Columbia River Bank [Member] | ||||
Covered Assets And FDIC Loss Sharing Asset [Line Items] | ||||
Balance at end of period | 321 | 321 | ||
Amount of Estimated Clawback Liability | 3,451 | 3,451 | ||
Non-Single Family Covered Assets | 62,536 | 62,536 | ||
Single Family Covered Assets | 6,942 | 6,942 | ||
American Marine Bank [Member] | ||||
Covered Assets And FDIC Loss Sharing Asset [Line Items] | ||||
Balance at end of period | 2,254 | 2,254 | ||
Amount of Estimated Clawback Liability | 1,282 | 1,282 | ||
Non-Single Family Covered Assets | 11,148 | 11,148 | ||
Single Family Covered Assets | 20,834 | 20,834 | ||
Summit Bank [Member] | ||||
Covered Assets And FDIC Loss Sharing Asset [Line Items] | ||||
Balance at end of period | 1,371 | 1,371 | ||
Amount of Estimated Clawback Liability | 0 | 0 | ||
Non-Single Family Covered Assets | 6,889 | 6,889 | ||
Single Family Covered Assets | 5,624 | 5,624 | ||
First Heritage Bank [Member] | ||||
Covered Assets And FDIC Loss Sharing Asset [Line Items] | ||||
Balance at end of period | 320 | 320 | ||
Amount of Estimated Clawback Liability | 700 | 700 | ||
Non-Single Family Covered Assets | 13,399 | 13,399 | ||
Single Family Covered Assets | $ 1,675 | $ 1,675 |
Goodwill and Intangible Assets (Schedule of Goodwill and Intangible Assets) (Details) - USD ($) $ in Thousands |
3 Months Ended | 6 Months Ended | ||||||
---|---|---|---|---|---|---|---|---|
Jun. 30, 2016 |
Jun. 30, 2015 |
Jun. 30, 2016 |
Jun. 30, 2015 |
Mar. 31, 2016 |
Dec. 31, 2015 |
Mar. 31, 2015 |
Dec. 31, 2014 |
|
Goodwill and Intangible Assets [Roll Forward] | ||||||||
Total goodwill, beginning of period | $ 382,762 | |||||||
Total goodwill, end of period | $ 382,762 | $ 382,537 | 382,762 | $ 382,537 | ||||
CDI current period amortization | (1,483) | (1,718) | (3,066) | (3,535) | ||||
Indefinite-Lived Intangible Assets (Excluding Goodwill) | 919 | 919 | 919 | 919 | ||||
Other intangible assets, net | 20,511 | 26,924 | 20,511 | 26,924 | $ 23,577 | |||
Total goodwill and intangible assets, end of period | 403,273 | 409,461 | $ 403,273 | 409,461 | ||||
Core Deposits [Member] | ||||||||
Goodwill and Intangible Assets [Line Items] | ||||||||
Estimated life of CDI, in years | 10 years | |||||||
Goodwill and Intangible Assets [Roll Forward] | ||||||||
Gross core deposit intangible balance, beginning of period | $ 58,598 | 58,598 | $ 58,598 | $ 58,598 | ||||
Accumulated amortization at beginning of period | $ (37,523) | $ (35,940) | $ (30,875) | $ (29,058) | ||||
Core deposit intangible, net, beginning of period | 21,075 | 27,723 | $ 22,658 | 29,540 | ||||
CDI current period amortization | (1,483) | (1,718) | (3,066) | (3,535) | ||||
Total core deposit intangible, end of period | $ 19,592 | $ 26,005 | $ 19,592 | $ 26,005 |
Goodwill and Intangible Assets (Estimated Future Amortization Expense of Core Deposit Intangibles) (Details) $ in Thousands |
Jun. 30, 2016
USD ($)
|
---|---|
Future Amortization Expense For Core Deposit Intangibles | |
2016 | $ 2,880 |
2017 | 4,913 |
2018 | 3,855 |
2019 | 2,951 |
2020 | $ 2,048 |
Derivatives and Balance Sheet Offsetting (Details) - USD ($) $ in Thousands |
3 Months Ended | 6 Months Ended | |||
---|---|---|---|---|---|
Jun. 30, 2016 |
Jun. 30, 2015 |
Jun. 30, 2016 |
Jun. 30, 2015 |
Dec. 31, 2015 |
|
Derivative [Line Items] | |||||
Gain (Loss) on Derivative Instruments, Net, Pretax | $ 1 | $ 9 | $ 7 | $ 4 | |
Secured Borrowings, Gross Including Not Subject to Master Netting Arrangement | 89,218 | 89,218 | |||
Secured Borrowings, Gross, Difference, Amount | 0 | 0 | |||
U.S. Government Agency and Government-Sponsored Enterprise Mortgage-Backed Securities and Collateralized Mortgage Obligations [Member] | |||||
Derivative [Line Items] | |||||
Secured Borrowings, Gross Including Not Subject to Master Netting Arrangement | 89,218 | 89,218 | |||
Maturity Overnight [Member] | U.S. Government Agency and Government-Sponsored Enterprise Mortgage-Backed Securities and Collateralized Mortgage Obligations [Member] | |||||
Derivative [Line Items] | |||||
Secured Borrowings, Gross Including Not Subject to Master Netting Arrangement | 64,218 | 64,218 | |||
Maturity Less than 30 Days [Member] | U.S. Government Agency and Government-Sponsored Enterprise Mortgage-Backed Securities and Collateralized Mortgage Obligations [Member] | |||||
Derivative [Line Items] | |||||
Secured Borrowings, Gross Including Not Subject to Master Netting Arrangement | 0 | 0 | |||
Maturity 30 to 90 Days [Member] | U.S. Government Agency and Government-Sponsored Enterprise Mortgage-Backed Securities and Collateralized Mortgage Obligations [Member] | |||||
Derivative [Line Items] | |||||
Secured Borrowings, Gross Including Not Subject to Master Netting Arrangement | 0 | 0 | |||
Maturity Greater than 90 Days [Member] | U.S. Government Agency and Government-Sponsored Enterprise Mortgage-Backed Securities and Collateralized Mortgage Obligations [Member] | |||||
Derivative [Line Items] | |||||
Secured Borrowings, Gross Including Not Subject to Master Netting Arrangement | 25,000 | 25,000 | |||
Not Designated as Hedging Instrument [Member] | Interest Rate Contracts [Member] | |||||
Derivative [Line Items] | |||||
Derivative, Notional Amount | 280,000 | 280,000 | $ 264,400 | ||
Not Designated as Hedging Instrument [Member] | Other Assets [Member] | Interest Rate Contracts [Member] | |||||
Derivative [Line Items] | |||||
Fair value of asset derivative instruments | 21,904 | 21,904 | 12,438 | ||
Not Designated as Hedging Instrument [Member] | Other Liabilities [Member] | Interest Rate Contracts [Member] | |||||
Derivative [Line Items] | |||||
Fair value of liability derivative instruments | $ 21,951 | $ 21,951 | $ 12,478 |
Derivatives and Balance Sheet Offsetting Balance Sheet Offsetting (Details) - USD ($) $ in Thousands |
Jun. 30, 2016 |
Dec. 31, 2015 |
---|---|---|
Balance Sheet Offsetting [Line Items] | ||
Repurchase agreements, amounts offset in balance sheet | $ 0 | $ 0 |
Repurchase agreements, net amount presented in statement of financial position | 89,218 | 99,699 |
Securities Sold under Agreements to Repurchase, Collateral, Right to Reclaim Securities | (89,218) | (99,699) |
Securities sold under agreements to repurchase, amount not offset | 0 | 0 |
Interest Rate Contracts [Member] | ||
Balance Sheet Offsetting [Line Items] | ||
Derivative Assets, Gross Amounts Offset in the Balance Sheets | 0 | 0 |
Derivative Asset | 21,904 | 12,438 |
Derivative, Collateral, Obligation to Return Securities | 0 | 0 |
Derivative Asset, Fair Value, Amount Not Offset Against Collateral | 21,904 | 12,438 |
Derivative Liability, Gross Amounts Offset in Balance Sheets | 0 | 0 |
Derivative Liability | 21,951 | 12,478 |
Derivative, Collateral, Right to Reclaim Securities | (21,951) | (12,478) |
Derivative Liability, Fair Value, Amount Not Offset Against Collateral | 0 | 0 |
Available-for-sale Securities [Member] | ||
Balance Sheet Offsetting [Line Items] | ||
Securities Sold under Agreements to Repurchase, Gross | 89,218 | 99,699 |
Not Designated as Hedging Instrument [Member] | Interest Rate Contracts [Member] | Other Assets [Member] | ||
Balance Sheet Offsetting [Line Items] | ||
Fair value of asset derivative instruments | 21,904 | 12,438 |
Not Designated as Hedging Instrument [Member] | Interest Rate Contracts [Member] | Other Liabilities [Member] | ||
Balance Sheet Offsetting [Line Items] | ||
Fair value of liability derivative instruments | $ 21,951 | $ 12,478 |
Commitments and Contingent Liabilities (Details) - USD ($) $ in Millions |
Jun. 30, 2016 |
Dec. 31, 2015 |
---|---|---|
Commitments to Extend Credit [Member] | ||
Other Commitments [Line Items] | ||
Fair Value Disclosure, Off-balance Sheet Risks, Amount, Liability | $ 1,930.0 | $ 1,930.0 |
Standby Letters of Credit [Member] | ||
Other Commitments [Line Items] | ||
Fair Value Disclosure, Off-balance Sheet Risks, Amount, Liability | 48.0 | 38.7 |
Commercial Letter of Credit and other off-balance sheet liabilities [Member] | ||
Other Commitments [Line Items] | ||
Fair Value Disclosure, Off-balance Sheet Risks, Amount, Liability | $ 5.7 | $ 5.0 |
Shareholders' Equity (Details) - $ / shares |
Jul. 28, 2016 |
Apr. 27, 2016 |
Jan. 28, 2016 |
---|---|---|---|
Subsequent Event [Line Items] | |||
Declared quarterly cash dividend | $ 0.19 | $ 0.18 | |
Special Dividends Payable, Amount Per Share | $ 0.18 | $ 0.20 | |
Subsequent Event [Member] | |||
Subsequent Event [Line Items] | |||
Declared quarterly cash dividend | $ 0.20 | ||
Special Dividends Payable, Amount Per Share | $ 0.19 |
Shareholders' Equity Narrative (Details) |
Jun. 30, 2016
shares
|
---|---|
Shareholders' Equity [Abstract] | |
Preferred Stock Converted Into Common Stock, Shares | 102,363 |
Accumulated Other Comprehensive Income (Changes in AOCI by Component) (Details) - USD ($) $ in Thousands |
3 Months Ended | 6 Months Ended | |||||
---|---|---|---|---|---|---|---|
Jun. 30, 2016 |
Jun. 30, 2015 |
Jun. 30, 2016 |
Jun. 30, 2015 |
||||
Accumulated Other Comprehensive Income (Loss) [Roll Forward] | |||||||
Beginning balance | [1] | $ 12,343 | $ 14,286 | $ (6,295) | $ 5,621 | ||
Other comprehensive income before reclassifications | [1] | 8,508 | (11,341) | 27,278 | (2,245) | ||
Amounts reclassified from accumulated other comprehensive income (loss) | [1] | (40) | (156) | (172) | (587) | ||
Net current-period other comprehensive income | [1] | 8,468 | (11,497) | 27,106 | (2,832) | ||
Ending balance | [1] | 20,811 | 2,789 | 20,811 | 2,789 | ||
Unrealized Gains and Losses on Available-for-Sale Securities [Member] | |||||||
Accumulated Other Comprehensive Income (Loss) [Roll Forward] | |||||||
Beginning balance | [1] | 18,918 | 16,379 | 386 | 7,462 | ||
Other comprehensive income before reclassifications | [1] | 8,508 | (11,341) | 27,278 | (1,965) | ||
Amounts reclassified from accumulated other comprehensive income (loss) | [1] | (146) | (219) | (384) | (678) | ||
Net current-period other comprehensive income | [1] | 8,362 | (11,560) | 26,894 | (2,643) | ||
Ending balance | [1] | 27,280 | 4,819 | 27,280 | 4,819 | ||
Unrealized Gains and Losses on Pension Plan Liability [Member] | |||||||
Accumulated Other Comprehensive Income (Loss) [Roll Forward] | |||||||
Beginning balance | [1] | (6,575) | (2,093) | (6,681) | (1,841) | ||
Other comprehensive income before reclassifications | [1] | 0 | 0 | 0 | (280) | ||
Amounts reclassified from accumulated other comprehensive income (loss) | [1] | 106 | 63 | 212 | 91 | ||
Net current-period other comprehensive income | [1] | 106 | 63 | 212 | (189) | ||
Ending balance | [1] | $ (6,469) | $ (2,030) | $ (6,469) | $ (2,030) | ||
|
Accumulated Other Comprehensive Income (Reclassification out of AOCI) (Details) - USD ($) $ in Thousands |
3 Months Ended | 6 Months Ended | ||
---|---|---|---|---|
Jun. 30, 2016 |
Jun. 30, 2015 |
Jun. 30, 2016 |
Jun. 30, 2015 |
|
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||
Investment securities gains, net | $ 602 | $ 1,064 | ||
Compensation and employee benefits | $ 37,291 | $ 38,446 | 73,610 | 77,546 |
Total before tax | 36,650 | 31,799 | 67,138 | 66,987 |
Income tax provision | (11,245) | (9,853) | (20,474) | (20,680) |
Net income | 25,405 | 21,946 | 46,664 | 46,307 |
Reclassification out of Accumulated Other Comprehensive Income [Member] | Unrealized Gains and Losses on Available-for-Sale Securities [Member] | ||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||
Investment securities gains, net | 229 | 343 | 602 | 1,064 |
Total before tax | 229 | 343 | 602 | 1,064 |
Income tax provision | (83) | (124) | (218) | (386) |
Net income | 146 | 219 | 384 | 678 |
Reclassification out of Accumulated Other Comprehensive Income [Member] | Unrealized Gains and Losses on Pension Plan Liability [Member] | ||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||
Compensation and employee benefits | (167) | (98) | (334) | (142) |
Total before tax | (167) | (98) | (334) | (142) |
Income tax provision | 61 | 35 | 122 | 51 |
Net income | $ (106) | $ (63) | $ (212) | $ (91) |
Fair Value Accounting and Measurement (Financial Assets And Liabilities Accounted for Fair Value On Recurring Basis) (Details) - USD ($) $ in Thousands |
6 Months Ended | |
---|---|---|
Jun. 30, 2016 |
Dec. 31, 2015 |
|
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available for sale | $ 2,279,552 | $ 2,157,694 |
Fair Value, Level 2 to level 1 Transfers, Amount | 0 | |
Fair Value, Measurements, Recurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available for sale | $ 2,279,552 | 2,157,694 |
Other assets (Interest rate contracts) | 21,904 | 12,438 |
Other liabilities (Interest rate contracts) | 21,951 | 12,478 |
Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Recurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available for sale | 549 | 20,137 |
Other assets (Interest rate contracts) | 0 | 0 |
Other liabilities (Interest rate contracts) | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available for sale | 2,279,003 | 2,137,557 |
Other assets (Interest rate contracts) | 21,904 | 12,438 |
Other liabilities (Interest rate contracts) | 21,951 | 12,478 |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available for sale | 0 | 0 |
Other assets (Interest rate contracts) | 0 | 0 |
Other liabilities (Interest rate contracts) | 0 | 0 |
U.S. Government Agency and Sponsored Enterprise Mortgage-Back Securities and Collateralized Mortgage Obligations [Member] | Fair Value, Measurements, Recurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available for sale | 1,421,686 | 1,286,489 |
U.S. Government Agency and Sponsored Enterprise Mortgage-Back Securities and Collateralized Mortgage Obligations [Member] | Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Recurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available for sale | 0 | 0 |
U.S. Government Agency and Sponsored Enterprise Mortgage-Back Securities and Collateralized Mortgage Obligations [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available for sale | 1,421,686 | 1,286,489 |
U.S. Government Agency and Sponsored Enterprise Mortgage-Back Securities and Collateralized Mortgage Obligations [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available for sale | 0 | 0 |
State and Municipal Securities [Member] | Fair Value, Measurements, Recurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available for sale | 518,365 | 492,169 |
State and Municipal Securities [Member] | Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Recurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available for sale | 0 | 0 |
State and Municipal Securities [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available for sale | 518,365 | 492,169 |
State and Municipal Securities [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available for sale | 0 | 0 |
U.S. Government Agency [Member] | Fair Value, Measurements, Recurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available for sale | 333,743 | 353,782 |
U.S. Government Agency [Member] | Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Recurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available for sale | 0 | 0 |
U.S. Government Agency [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available for sale | 333,743 | 353,782 |
U.S. Government Agency [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available for sale | 0 | 0 |
US Government Securities [Member] | Fair Value, Measurements, Recurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available for sale | 549 | 20,137 |
US Government Securities [Member] | Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Recurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available for sale | 549 | 20,137 |
US Government Securities [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available for sale | 0 | 0 |
US Government Securities [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available for sale | 0 | 0 |
Other Securities [Member] | Fair Value, Measurements, Recurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available for sale | 5,209 | 5,117 |
Other Securities [Member] | Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Recurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available for sale | 0 | 0 |
Other Securities [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available for sale | 5,209 | 5,117 |
Other Securities [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available for sale | $ 0 | $ 0 |
Fair Value Accounting and Measurement (Financial Assets Accounted For Fair Value On Nonrecurring Basis) (Details) - Fair Value, Measurements, Nonrecurring [Member] - USD ($) $ in Thousands |
3 Months Ended | 6 Months Ended | ||
---|---|---|---|---|
Jun. 30, 2016 |
Jun. 30, 2015 |
Jun. 30, 2016 |
Jun. 30, 2015 |
|
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Impaired loans | $ 3,218 | $ 0 | $ 3,218 | $ 0 |
Fair Value, Option, Changes in Fair Value, Gain (Loss) | 2,829 | 1,749 | 2,924 | 1,793 |
OREO | 6,338 | 1,664 | 6,338 | 1,664 |
Assets, Fair Value Disclosure | 9,556 | 1,664 | 9,556 | 1,664 |
Fair Value, Inputs, Level 1 [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Impaired loans | 0 | 0 | 0 | 0 |
OREO | 0 | 0 | 0 | 0 |
Assets, Fair Value Disclosure | 0 | 0 | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Impaired loans | 0 | 0 | 0 | 0 |
OREO | 0 | 0 | 0 | 0 |
Assets, Fair Value Disclosure | 0 | 0 | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Impaired loans | 3,218 | 0 | 3,218 | 0 |
OREO | 6,338 | 1,664 | 6,338 | 1,664 |
Assets, Fair Value Disclosure | 9,556 | 1,664 | 9,556 | 1,664 |
Impaired Loans [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Fair Value, Option, Changes in Fair Value, Gain (Loss) | 2,691 | 1,138 | 2,691 | 1,138 |
Other Real Estate Owned [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Fair Value, Option, Changes in Fair Value, Gain (Loss) | $ 138 | $ 611 | $ 233 | $ 655 |
Fair Value Accounting and Measurement (Quantitative Information About Level 3 Fair Value Measurements) (Details) - Fair Value, Measurements, Nonrecurring [Member] - USD ($) $ in Thousands |
3 Months Ended | ||||||||
---|---|---|---|---|---|---|---|---|---|
Jun. 30, 2016 |
Jun. 30, 2015 |
||||||||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | |||||||||
Impaired loans | $ 3,218 | $ 0 | |||||||
OREO | 6,338 | 1,664 | |||||||
Fair Value, Inputs, Level 3 [Member] | |||||||||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | |||||||||
Impaired loans | 3,218 | 0 | |||||||
OREO | 6,338 | 1,664 | |||||||
Real Estate Collateral [Member] | Fair Value, Inputs, Level 3 [Member] | |||||||||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | |||||||||
Impaired loans | 303 | $ 0 | |||||||
Other Collateral [Member] | Fair Value, Inputs, Level 3 [Member] | |||||||||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | |||||||||
Impaired loans | $ 2,915 | ||||||||
Other Collateral [Member] | Market Approach Valuation Technique [Member] | Impaired Loans [Member] | Minimum [Member] | Fair Value, Inputs, Level 3 [Member] | |||||||||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | |||||||||
Fair Value Inputs, Comparability Adjustments | [1] | 0.00% | |||||||
Fair Value Inputs, Discount Rate | [2],[3] | 2.99% | |||||||
Other Collateral [Member] | Market Approach Valuation Technique [Member] | Impaired Loans [Member] | Maximum [Member] | Fair Value, Inputs, Level 3 [Member] | |||||||||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | |||||||||
Fair Value Inputs, Comparability Adjustments | [1] | 0.00% | |||||||
Fair Value Inputs, Discount Rate | [2],[3] | 10.25% | |||||||
Other Collateral [Member] | Market Approach Valuation Technique [Member] | Impaired Loans [Member] | Weighted Average [Member] | Fair Value, Inputs, Level 3 [Member] | |||||||||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | |||||||||
Fair Value Inputs, Comparability Adjustments | [1] | 100.00% | |||||||
Fair Value Inputs, Discount Rate | [2],[3] | 6.03% | |||||||
|
Fair Value Accounting and Measurement (Carrying Amounts and Estimated Fair Values of Selected Financial Instruments) (Details) - USD ($) $ in Thousands |
Jun. 30, 2016 |
Dec. 31, 2015 |
---|---|---|
Assets | ||
Interest-earning deposits with banks | $ 11,216 | $ 8,373 |
Securities available for sale | 2,279,552 | 2,157,694 |
Carrying (Reported) Amount, Fair Value Disclosure [Member] | ||
Assets | ||
Cash and due from banks | 167,172 | 166,929 |
Interest-earning deposits with banks | 11,216 | 8,373 |
Securities available for sale | 2,279,552 | 2,157,694 |
FHLB stock | 18,161 | 12,722 |
Loans held for sale | 7,649 | 4,509 |
Loans | 6,037,839 | 5,746,855 |
FDIC loss-sharing asset | 4,266 | 6,568 |
Interest rate contracts | 21,904 | 12,438 |
Liabilities | ||
Deposits | 7,673,213 | 7,438,829 |
FHLB Advances | 204,512 | 68,531 |
Repurchase agreements | 89,218 | 99,699 |
Interest rate contracts | 21,951 | 12,478 |
Estimate of Fair Value, Fair Value Disclosure [Member] | ||
Assets | ||
Cash and due from banks | 167,172 | 166,929 |
Interest-earning deposits with banks | 11,216 | 8,373 |
Securities available for sale | 2,279,552 | 2,157,694 |
FHLB stock | 18,161 | 12,722 |
Loans held for sale | 7,649 | 4,509 |
Loans | 6,171,314 | 5,752,423 |
FDIC loss-sharing asset | 1,229 | 921 |
Interest rate contracts | 21,904 | 12,438 |
Liabilities | ||
Deposits | 7,670,628 | 7,434,787 |
FHLB Advances | 205,818 | 69,176 |
Repurchase agreements | 89,645 | 100,346 |
Interest rate contracts | 21,951 | 12,478 |
Fair Value, Inputs, Level 1 [Member] | Estimate of Fair Value, Fair Value Disclosure [Member] | ||
Assets | ||
Cash and due from banks | 167,172 | 166,929 |
Interest-earning deposits with banks | 11,216 | 8,373 |
Securities available for sale | 549 | 20,137 |
FHLB stock | 0 | 0 |
Loans held for sale | 0 | 0 |
Loans | 0 | 0 |
FDIC loss-sharing asset | 0 | 0 |
Interest rate contracts | 0 | 0 |
Liabilities | ||
Deposits | 7,251,213 | 6,979,924 |
FHLB Advances | 0 | 0 |
Repurchase agreements | 0 | 0 |
Interest rate contracts | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | Estimate of Fair Value, Fair Value Disclosure [Member] | ||
Assets | ||
Cash and due from banks | 0 | 0 |
Interest-earning deposits with banks | 0 | 0 |
Securities available for sale | 2,279,003 | 2,137,557 |
FHLB stock | 18,161 | 12,722 |
Loans held for sale | 7,649 | 4,509 |
Loans | 0 | 0 |
FDIC loss-sharing asset | 0 | 0 |
Interest rate contracts | 21,904 | 12,438 |
Liabilities | ||
Deposits | 419,415 | 454,863 |
FHLB Advances | 205,818 | 69,176 |
Repurchase agreements | 89,645 | 100,346 |
Interest rate contracts | 21,951 | 12,478 |
Fair Value, Inputs, Level 3 [Member] | Estimate of Fair Value, Fair Value Disclosure [Member] | ||
Assets | ||
Cash and due from banks | 0 | 0 |
Interest-earning deposits with banks | 0 | 0 |
Securities available for sale | 0 | 0 |
FHLB stock | 0 | 0 |
Loans held for sale | 0 | 0 |
Loans | 6,171,314 | 5,752,423 |
FDIC loss-sharing asset | 1,229 | 921 |
Interest rate contracts | 0 | 0 |
Liabilities | ||
Deposits | 0 | 0 |
FHLB Advances | 0 | 0 |
Repurchase agreements | 0 | 0 |
Interest rate contracts | $ 0 | $ 0 |
Earnings per Common Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands |
3 Months Ended | 6 Months Ended | ||||
---|---|---|---|---|---|---|
Jun. 30, 2016 |
Jun. 30, 2015 |
Jun. 30, 2016 |
Jun. 30, 2015 |
|||
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items] | ||||||
Net Income | $ 25,405 | $ 21,946 | $ 46,664 | $ 46,307 | ||
Earnings allocated to participating securities - preferred shares | 45 | 39 | 82 | 82 | ||
Earnings allocated to participating securities - nonvested restricted shares | 343 | 248 | 578 | 475 | ||
Earnings allocated to common shareholders, Basic | $ 25,017 | $ 21,659 | $ 46,004 | $ 45,750 | ||
Weighted average common shares outstanding | 57,185 | 57,055 | 57,149 | 56,999 | ||
Basic earnings per common share | $ 0.44 | $ 0.38 | $ 0.80 | $ 0.80 | ||
Earnings allocated to common shareholders, Diluted | [1] | $ 25,017 | $ 21,659 | $ 46,004 | $ 45,750 | |
Dilutive effect of equity awards and warrants | 10 | 14 | 11 | 13 | ||
Weighted average diluted common shares outstanding | 57,195 | 57,069 | 57,160 | 57,012 | ||
Diluted earnings per common share | $ 0.44 | $ 0.38 | $ 0.80 | $ 0.80 | ||
Potentially dilutive share options that were not included in the computation of diluted EPS because to do so would be anti-dilutive. | 19 | 37 | 23 | 45 | ||
|
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