Commission File Number | 1-13006 |
Park National Corporation |
(Exact name of registrant as specified in its charter) |
Ohio | 31-1179518 | |
(State or other jurisdiction of incorporation or organization) | (I.R.S. Employer Identification No.) |
50 North Third Street, Newark, Ohio 43055 |
(Address of principal executive offices) (Zip Code) |
(740) 349-8451 |
(Registrant’s telephone number, including area code) |
N/A |
(Former name, former address and former fiscal year, if changed since last report) |
Large accelerated filer | ý | Accelerated filer | ¨ |
Non-accelerated filer | ¨ | Smaller reporting company | ¨ |
(Do not check if a smaller reporting company) | Emerging growth company | ¨ |
Page | |
PART I. FINANCIAL INFORMATION | |
Item 1. Financial Statements | |
June 30, 2018 | December 31, 2017 | ||||||
Assets: | |||||||
Cash and due from banks | $ | 122,915 | $ | 131,946 | |||
Money market instruments | 23,244 | 37,166 | |||||
Cash and cash equivalents | 146,159 | 169,112 | |||||
Investment securities: | |||||||
Debt securities available-for-sale, at fair value (amortized cost of $1,127,511 and $1,097,645 at June 30, 2018 and December 31, 2017, respectively) | 1,091,678 | 1,091,881 | |||||
Debt securities held-to-maturity, at amortized cost (fair value of $348,192 and $363,779 at June 30, 2018 and December 31, 2017, respectively) | 351,431 | 357,197 | |||||
Other investment securities | 70,129 | 63,746 | |||||
Total investment securities | 1,513,238 | 1,512,824 | |||||
Loans | 5,324,974 | 5,372,483 | |||||
Allowance for loan losses | (49,452 | ) | (49,988 | ) | |||
Net loans | 5,275,522 | 5,322,495 | |||||
Bank owned life insurance | 190,245 | 189,322 | |||||
Prepaid assets | 100,551 | 97,712 | |||||
Goodwill | 72,334 | 72,334 | |||||
Premises and equipment, net | 55,555 | 55,901 | |||||
Affordable housing tax credit investments | 45,967 | 49,669 | |||||
Other real estate owned | 5,729 | 14,190 | |||||
Accrued interest receivable | 21,970 | 22,164 | |||||
Mortgage loan servicing rights | 10,077 | 9,688 | |||||
Other | 24,809 | 22,209 | |||||
Total assets | $ | 7,462,156 | $ | 7,537,620 | |||
Liabilities and Shareholders' Equity: | |||||||
Deposits: | |||||||
Noninterest bearing | $ | 1,591,962 | $ | 1,633,941 | |||
Interest bearing | 4,423,882 | 4,183,385 | |||||
Total deposits | 6,015,844 | 5,817,326 | |||||
Short-term borrowings | 216,139 | 391,289 | |||||
Long-term debt | 400,000 | 500,000 | |||||
Subordinated notes | 15,000 | 15,000 | |||||
Unfunded commitments in affordable housing tax credit investments | 14,282 | 14,282 | |||||
Accrued interest payable | 2,325 | 2,278 | |||||
Other | 43,478 | 41,344 | |||||
Total liabilities | $ | 6,707,068 | $ | 6,781,519 | |||
Shareholders' equity: | |||||||
Preferred shares (200,000 shares authorized; 0 shares issued) | $ | — | $ | — | |||
Common shares (No par value; 20,000,000 shares authorized; 16,150,732 shares issued at June 30, 2018 and 16,150,752 shares issued at December 31, 2017) | 308,144 | 307,726 | |||||
Retained earnings | 593,512 | 561,908 | |||||
Treasury shares (899,637 shares at June 30, 2018 and 862,558 at December 31, 2017) | (91,559 | ) | (87,079 | ) | |||
Accumulated other comprehensive loss, net of taxes | (55,009 | ) | (26,454 | ) | |||
Total shareholders' equity | 755,088 | 756,101 | |||||
Total liabilities and shareholders’ equity | $ | 7,462,156 | $ | 7,537,620 |
Three Months Ended June 30, | Six Months Ended June 30, | ||||||||||||||
2018 | 2017 | 2018 | 2017 | ||||||||||||
Interest and dividend income: | |||||||||||||||
Interest and fees on loans | $ | 64,496 | $ | 61,222 | $ | 128,898 | $ | 121,130 | |||||||
Interest and dividends on: | |||||||||||||||
Obligations of U.S. Government, its agencies and other securities - taxable | 7,746 | 6,892 | 14,513 | 14,030 | |||||||||||
Obligations of states and political subdivisions - tax-exempt | 2,178 | 1,664 | 4,352 | 3,124 | |||||||||||
Other interest income | 271 | 698 | 642 | 947 | |||||||||||
Total interest and dividend income | 74,691 | 70,476 | 148,405 | 139,231 | |||||||||||
Interest expense: | |||||||||||||||
Interest on deposits: | |||||||||||||||
Demand and savings deposits | 4,107 | 2,291 | 7,397 | 3,905 | |||||||||||
Time deposits | 2,886 | 2,457 | 5,437 | 4,618 | |||||||||||
Interest on borrowings: | |||||||||||||||
Short-term borrowings | 420 | 184 | 995 | 419 | |||||||||||
Long-term debt | 2,536 | 5,766 | 4,984 | 11,559 | |||||||||||
Total interest expense | 9,949 | 10,698 | 18,813 | 20,501 | |||||||||||
Net interest income | 64,742 | 59,778 | 129,592 | 118,730 | |||||||||||
Provision for loan losses | 1,386 | 4,581 | 1,646 | 5,457 | |||||||||||
Net interest income after provision for loan losses | 63,356 | 55,197 | 127,946 | 113,273 | |||||||||||
Other income: | |||||||||||||||
Income from fiduciary activities | 6,666 | 6,025 | 13,061 | 11,539 | |||||||||||
Service charges on deposit accounts | 2,826 | 3,156 | 5,748 | 6,295 | |||||||||||
Other service income | 3,472 | 3,447 | 7,644 | 6,251 | |||||||||||
Checkcard fee income | 4,382 | 4,040 | 8,384 | 7,801 | |||||||||||
Bank owned life insurance income | 1,031 | 1,114 | 2,040 | 2,217 | |||||||||||
ATM fees | 510 | 561 | 1,034 | 1,103 | |||||||||||
OREO valuation adjustments | (114 | ) | (272 | ) | (321 | ) | (345 | ) | |||||||
(Loss) gain on sale of OREO, net | (147 | ) | 53 | 4,174 | 153 | ||||||||||
Net loss on sale of investment securities | — | — | (2,271 | ) | — | ||||||||||
Unrealized gain on equity securities | 304 | — | 3,793 | — | |||||||||||
Other components of net periodic pension benefit income | 1,705 | 1,448 | 3,410 | 2,896 | |||||||||||
Miscellaneous | 2,607 | 1,127 | 3,449 | 1,744 | |||||||||||
Total other income | 23,242 | 20,699 | 50,145 | 39,654 | |||||||||||
Three Months Ended June 30, | Six Months Ended June 30, | ||||||||||||||
2018 | 2017 | 2018 | 2017 | ||||||||||||
Other expense: | |||||||||||||||
Salaries | $ | 24,103 | $ | 23,001 | $ | 49,423 | $ | 45,718 | |||||||
Employee benefits | 7,630 | 6,206 | 14,659 | 12,674 | |||||||||||
Occupancy expense | 2,570 | 2,565 | 5,506 | 5,200 | |||||||||||
Furniture and equipment expense | 4,013 | 3,640 | 8,162 | 7,258 | |||||||||||
Data processing fees | 1,902 | 1,676 | 3,675 | 3,641 | |||||||||||
Professional fees and services | 6,123 | 6,018 | 12,313 | 10,847 | |||||||||||
Marketing | 1,185 | 1,084 | 2,403 | 2,140 | |||||||||||
Insurance | 1,196 | 1,517 | 2,624 | 3,087 | |||||||||||
Communication | 1,189 | 1,155 | 2,439 | 2,488 | |||||||||||
State tax expense | 958 | 943 | 2,063 | 2,006 | |||||||||||
Miscellaneous | 1,665 | 1,749 | 3,575 | 3,405 | |||||||||||
Total other expense | 52,534 | 49,554 | 106,842 | 98,464 | |||||||||||
Income before income taxes | 34,064 | 26,342 | 71,249 | 54,463 | |||||||||||
Federal income taxes | 5,823 | 7,310 | 11,885 | 15,164 | |||||||||||
Net income | $ | 28,241 | $ | 19,032 | $ | 59,364 | $ | 39,299 | |||||||
Earnings per Common Share: | |||||||||||||||
Basic | $ | 1.85 | $ | 1.24 | $ | 3.88 | $ | 2.57 | |||||||
Diluted | $ | 1.83 | $ | 1.24 | $ | 3.85 | $ | 2.55 | |||||||
Weighted average common shares outstanding | |||||||||||||||
Basic | 15,285,532 | 15,297,085 | 15,286,932 | 15,304,572 | |||||||||||
Diluted | 15,417,607 | 15,398,865 | 15,424,585 | 15,415,765 | |||||||||||
Cash dividends declared | $ | 1.21 | $ | 0.94 | $ | 2.15 | $ | 1.88 |
Three Months Ended June 30, | Six Months Ended June 30, | ||||||||||||||
2018 | 2017 | 2018 | 2017 | ||||||||||||
Net income | $ | 28,241 | $ | 19,032 | $ | 59,364 | $ | 39,299 | |||||||
Other comprehensive (loss) income, net of tax: | |||||||||||||||
Net loss realized on sale of securities, net of income tax benefit of $538 for the six months ended June 30, 2018 | — | — | 2,024 | — | |||||||||||
Unrealized net holding (loss) gain on debt securities available-for-sale, net of federal income tax effect of $(630) and $1,621 for the three months ended June 30, 2018 and 2017, and $(6,853) and $2,171 for the six months ended June 30, 2018 and 2017, respectively | (2,368 | ) | 3,011 | (25,778 | ) | 4,033 | |||||||||
Other comprehensive (loss) income | $ | (2,368 | ) | $ | 3,011 | $ | (23,754 | ) | $ | 4,033 | |||||
Comprehensive income | $ | 25,873 | $ | 22,043 | $ | 35,610 | $ | 43,332 |
Preferred Shares | Common Shares | Retained Earnings | Treasury Shares | Accumulated Other Comprehensive (Loss) Income | ||||||||||||||||
Balance at January 1, 2017 | $ | — | $ | 305,826 | $ | 535,631 | $ | (81,472 | ) | $ | (17,745 | ) | ||||||||
Net income | 39,299 | |||||||||||||||||||
Other comprehensive income, net of tax | 4,033 | |||||||||||||||||||
Dividends on common shares at $1.88 per share | (28,939 | ) | ||||||||||||||||||
Cash payment for fractional common shares in dividend reinvestment plan | (2 | ) | ||||||||||||||||||
Issuance of 9,674 common shares under share-based compensation awards, net of 3,293 common shares withheld to pay employee income taxes | (795 | ) | (197 | ) | $ | 645 | ||||||||||||||
Repurchase of 50,000 common shares to be held as treasury shares | $ | (5,425 | ) | |||||||||||||||||
Share-based compensation expense | 1,389 | |||||||||||||||||||
Balance at June 30, 2017 | $ | — | $ | 306,418 | $ | 545,794 | $ | (86,252 | ) | $ | (13,712 | ) | ||||||||
Balance at January 1, 2018, as previously presented | $ | — | $ | 307,726 | $ | 561,908 | $ | (87,079 | ) | $ | (26,454 | ) | ||||||||
Cumulative effect of change in accounting principle for marketable equity securities, net of tax | 1,917 | (995 | ) | |||||||||||||||||
Balance at January 1, 2018, as adjusted | — | 307,726 | 563,825 | (87,079 | ) | (27,449 | ) | |||||||||||||
Reclassification of disproportionate income tax effects | 3,806 | (3,806 | ) | |||||||||||||||||
Net income | 59,364 | |||||||||||||||||||
Other comprehensive loss, net of tax | (23,754 | ) | ||||||||||||||||||
Dividends on common shares at $2.15 per share | (33,166 | ) | ||||||||||||||||||
Cash payment for fractional common shares in dividend reinvestment plan | (2 | ) | ||||||||||||||||||
Issuance of 18,800 common shares under share-based compensation awards, net of 5,879 common shares withheld to pay employee income taxes | (1,597 | ) | (317 | ) | 1,304 | |||||||||||||||
Repurchase of 50,000 common shares to be held as treasury shares | (5,784 | ) | ||||||||||||||||||
Share-based compensation expense | 2,017 | |||||||||||||||||||
Balance at June 30, 2018 | $ | — | $ | 308,144 | $ | 593,512 | $ | (91,559 | ) | $ | (55,009 | ) |
Six Months Ended June 30, | |||||||
2018 | 2017 | ||||||
Operating activities: | |||||||
Net income | $ | 59,364 | $ | 39,299 | |||
Adjustments to reconcile net income to net cash provided by operating activities: | |||||||
Provision for loan losses | 1,646 | 5,457 | |||||
Amortization of loan fees and costs, net | (3,055 | ) | (2,821 | ) | |||
Increase in prepaid dealer premiums | (1,079 | ) | (3,734 | ) | |||
Provision for depreciation | 4,294 | 4,284 | |||||
Amortization of investment securities, net | 656 | 597 | |||||
Realized net investment securities losses | 2,271 | — | |||||
Unrealized gain on equity securities | (3,793 | ) | — | ||||
Amortization of prepayment penalty on long-term debt | — | 3,107 | |||||
Loan originations to be sold in secondary market | (96,290 | ) | (106,685 | ) | |||
Proceeds from sale of loans in secondary market | 94,550 | 107,046 | |||||
Gain on sale of loans in secondary market | (2,266 | ) | (2,063 | ) | |||
Share-based compensation expense | 2,017 | 1,389 | |||||
OREO valuation adjustments | 321 | 345 | |||||
Gain on sale of OREO, net | (4,174 | ) | (153 | ) | |||
Bank owned life insurance income | (2,040 | ) | (2,217 | ) | |||
Investment in qualified affordable housing tax credits amortization | 3,702 | 3,728 | |||||
Changes in assets and liabilities: | |||||||
Decrease (increase) in other assets | 2,667 | (3,179 | ) | ||||
Increase (decrease) in other liabilities | 1,731 | (4,394 | ) | ||||
Net cash provided by operating activities | $ | 60,522 | $ | 40,006 | |||
Investing activities: | |||||||
Proceeds from sales of securities | $ | 244,398 | $ | — | |||
Proceeds from calls and maturities of: | |||||||
Available-for-sale debt securities | 97,008 | 83,308 | |||||
Held-to-maturity debt securities | 9,885 | 9,371 | |||||
Purchases of: | |||||||
Available-for-sale debt securities | (373,372 | ) | (14,965 | ) | |||
Held-to-maturity debt securities | (4,946 | ) | (72,258 | ) | |||
Equity securities | (2,590 | ) | — | ||||
Net loan paydowns (originations), portfolio loans | 53,162 | (94,207 | ) | ||||
Proceeds from the sale of OREO | 11,461 | 1,688 | |||||
Life insurance death benefits | 1,379 | 74 | |||||
Purchases of premises and equipment, net | (3,950 | ) | (2,474 | ) | |||
Net cash provided by (used in) investing activities | $ | 32,435 | $ | (89,463 | ) | ||
PARK NATIONAL CORPORATION AND SUBSIDIARIES Consolidated Condensed Statements of Cash Flows (Unaudited) (Continued) (in thousands) | |||||||
Six Months Ended June 30, | |||||||
2018 | 2017 | ||||||
Financing activities: | |||||||
Net increase in deposits | $ | 198,518 | $ | 439,620 | |||
Net decrease in short-term borrowings | (175,150 | ) | (211,007 | ) | |||
Proceeds from issuance of long-term debt | 25,000 | 150,000 | |||||
Repayment of subordinated notes | — | (30,000 | ) | ||||
Repayment of long-term debt | (125,000 | ) | — | ||||
Value of common shares withheld to pay employee income taxes | (610 | ) | (347 | ) | |||
Repurchase of common shares to be held as treasury shares | (5,784 | ) | (5,425 | ) | |||
Cash dividends paid | (32,884 | ) | (28,751 | ) | |||
Net cash (used in) provided by financing activities | $ | (115,910 | ) | $ | 314,090 | ||
(Decrease) increase in cash and cash equivalents | (22,953 | ) | 264,633 | ||||
Cash and cash equivalents at beginning of year | 169,112 | 146,446 | |||||
Cash and cash equivalents at end of period | $ | 146,159 | $ | 411,079 | |||
Supplemental disclosures of cash flow information: | |||||||
Cash paid for: | |||||||
Interest | $ | 18,766 | $ | 20,258 | |||
Income taxes | $ | 2,500 | $ | 11,220 | |||
Non-cash items: | |||||||
Loans transferred to OREO | $ | 861 | $ | 2,891 | |||
New commitments in affordable housing tax credit investments | $ | — | $ | 7,000 |
June 30, 2018 | December 31, 2017 | |||||||||||||||||||||||
(In thousands) | Loan Balance | Accrued Interest Receivable | Recorded Investment | Loan Balance | Accrued Interest Receivable | Recorded Investment | ||||||||||||||||||
Commercial, financial and agricultural * | $ | 1,014,623 | $ | 4,766 | $ | 1,019,389 | $ | 1,053,453 | $ | 4,413 | $ | 1,057,866 | ||||||||||||
Commercial real estate * | 1,150,845 | 4,241 | 1,155,086 | 1,167,607 | 4,283 | 1,171,890 | ||||||||||||||||||
Construction real estate: | ||||||||||||||||||||||||
Commercial | 136,058 | 423 | 136,481 | 125,389 | 401 | 125,790 | ||||||||||||||||||
Mortgage | 52,895 | 127 | 53,022 | 52,203 | 133 | 52,336 | ||||||||||||||||||
Installment | 2,965 | 9 | 2,974 | 3,878 | 13 | 3,891 | ||||||||||||||||||
Residential real estate: | ||||||||||||||||||||||||
Commercial | 390,651 | 1,069 | 391,720 | 393,094 | 1,029 | 394,123 | ||||||||||||||||||
Mortgage | 1,094,657 | 1,358 | 1,096,015 | 1,110,426 | 1,516 | 1,111,942 | ||||||||||||||||||
HELOC | 188,663 | 921 | 189,584 | 203,178 | 974 | 204,152 | ||||||||||||||||||
Installment | 16,601 | 47 | 16,648 | 18,526 | 53 | 18,579 | ||||||||||||||||||
Consumer | 1,274,349 | 3,597 | 1,277,946 | 1,241,736 | 3,808 | 1,245,544 | ||||||||||||||||||
Leases | 2,667 | 23 | 2,690 | 2,993 | 36 | 3,029 | ||||||||||||||||||
Total loans | $ | 5,324,974 | $ | 16,581 | $ | 5,341,555 | $ | 5,372,483 | $ | 16,659 | $ | 5,389,142 |
June 30, 2018 | ||||||||||||||||
(In thousands) | Nonaccrual Loans | Accruing TDRs | Loans Past Due 90 Days or More and Accruing | Total Nonperforming Loans | ||||||||||||
Commercial, financial and agricultural | $ | 29,847 | $ | 187 | $ | 6 | $ | 30,040 | ||||||||
Commercial real estate | 23,313 | 3,215 | — | 26,528 | ||||||||||||
Construction real estate: | ||||||||||||||||
Commercial | 2,187 | 342 | — | 2,529 | ||||||||||||
Mortgage | — | 16 | — | 16 | ||||||||||||
Installment | 42 | 15 | — | 57 | ||||||||||||
Residential real estate: | ||||||||||||||||
Commercial | 2,531 | 219 | — | 2,750 | ||||||||||||
Mortgage | 17,508 | 9,644 | 399 | 27,551 | ||||||||||||
HELOC | 1,772 | 1,230 | 60 | 3,062 | ||||||||||||
Installment | 464 | 808 | 103 | 1,375 | ||||||||||||
Consumer | 3,460 | 724 | 910 | 5,094 | ||||||||||||
Total loans | $ | 81,124 | $ | 16,400 | $ | 1,478 | $ | 99,002 |
December 31, 2017 | ||||||||||||||||
(In thousands) | Nonaccrual Loans | Accruing TDRs | Loans Past Due 90 Days or More and Accruing | Total Nonperforming Loans | ||||||||||||
Commercial, financial and agricultural | $ | 16,773 | $ | 1,291 | $ | — | $ | 18,064 | ||||||||
Commercial real estate | 12,979 | 5,163 | — | 18,142 | ||||||||||||
Construction real estate: | ||||||||||||||||
Commercial | 986 | 338 | — | 1,324 | ||||||||||||
Mortgage | 8 | 92 | — | 100 | ||||||||||||
Installment | 52 | — | — | 52 | ||||||||||||
Residential real estate: | ||||||||||||||||
Commercial | 18,835 | 224 | — | 19,059 | ||||||||||||
Mortgage | 16,841 | 10,766 | 568 | 28,175 | ||||||||||||
HELOC | 1,593 | 1,025 | 14 | 2,632 | ||||||||||||
Installment | 586 | 616 | 7 | 1,209 | ||||||||||||
Consumer | 3,403 | 662 | 1,256 | 5,321 | ||||||||||||
Total loans | $ | 72,056 | $ | 20,177 | $ | 1,845 | $ | 94,078 |
June 30, 2018 | December 31, 2017 | ||||||||||||||||||||||||
(In thousands) | Nonaccrual and Accruing TDRs | Loans Individually Evaluated for Impairment | Loans Collectively Evaluated for Impairment | Nonaccrual and Accruing TDRs | Loans Individually Evaluated for Impairment | Loans Collectively Evaluated for Impairment | |||||||||||||||||||
Commercial, financial and agricultural | $ | 30,034 | $ | 29,943 | $ | 91 | $ | 18,064 | $ | 18,039 | $ | 25 | |||||||||||||
Commercial real estate | 26,528 | 26,528 | — | 18,142 | 18,142 | — | |||||||||||||||||||
Construction real estate: | |||||||||||||||||||||||||
Commercial | 2,529 | 2,529 | — | 1,324 | 1,324 | — | |||||||||||||||||||
Mortgage | 16 | — | 16 | 100 | — | 100 | |||||||||||||||||||
Installment | 57 | — | 57 | 52 | — | 52 | |||||||||||||||||||
Residential real estate: | |||||||||||||||||||||||||
Commercial | 2,750 | 2,750 | — | 19,059 | 19,059 | — | |||||||||||||||||||
Mortgage | 27,152 | — | 27,152 | 27,607 | — | 27,607 | |||||||||||||||||||
HELOC | 3,002 | — | 3,002 | 2,618 | — | 2,618 | |||||||||||||||||||
Installment | 1,272 | — | 1,272 | 1,202 | — | 1,202 | |||||||||||||||||||
Consumer | 4,184 | — | 4,184 | 4,065 | — | 4,065 | |||||||||||||||||||
Total loans | $ | 97,524 | $ | 61,750 | $ | 35,774 | $ | 92,233 | $ | 56,564 | $ | 35,669 |
June 30, 2018 | December 31, 2017 | ||||||||||||||||||||||||
(In thousands) | Unpaid Principal Balance | Recorded Investment | Allowance for Loan Losses Allocated | Unpaid Principal Balance | Recorded Investment | Allowance for Loan Losses Allocated | |||||||||||||||||||
With no related allowance recorded: | |||||||||||||||||||||||||
Commercial, financial and agricultural | $ | 29,897 | $ | 26,740 | $ | — | $ | 19,899 | $ | 14,704 | $ | — | |||||||||||||
Commercial real estate | 25,145 | 24,469 | — | 18,974 | 18,060 | — | |||||||||||||||||||
Construction real estate: | |||||||||||||||||||||||||
Commercial | 5,342 | 2,529 | — | 2,788 | 1,324 | — | |||||||||||||||||||
Residential real estate: | |||||||||||||||||||||||||
Commercial | 3,080 | 2,717 | — | 19,346 | 19,012 | — | |||||||||||||||||||
With an allowance recorded: | |||||||||||||||||||||||||
Commercial, financial and agricultural | 5,256 | 3,203 | 1,366 | 5,394 | 3,335 | 681 | |||||||||||||||||||
Commercial real estate | 2,238 | 2,059 | 27 | 137 | 82 | 2 | |||||||||||||||||||
Construction real estate: | |||||||||||||||||||||||||
Commercial | — | — | — | — | — | — | |||||||||||||||||||
Residential real estate: | |||||||||||||||||||||||||
Commercial | 33 | 33 | 3 | 47 | 47 | 1 | |||||||||||||||||||
Consumer | — | — | — | — | — | — | |||||||||||||||||||
Total | $ | 70,991 | $ | 61,750 | $ | 1,396 | $ | 66,585 | $ | 56,564 | $ | 684 |
Three Months Ended June 30, 2018 | Three Months Ended June 30, 2017 | |||||||||||||||||||||||
(In thousands) | Recorded Investment as of June 30, 2018 | Average Recorded Investment | Interest Income Recognized | Recorded Investment as of June 30, 2017 | Average Recorded Investment | Interest Income Recognized | ||||||||||||||||||
Commercial, financial and agricultural | $ | 29,943 | $ | 27,637 | $ | 145 | $ | 28,475 | $ | 23,320 | $ | 120 | ||||||||||||
Commercial real estate | 26,528 | 20,711 | 201 | 21,790 | 21,768 | 240 | ||||||||||||||||||
Construction real estate: | ||||||||||||||||||||||||
Commercial | 2,529 | 1,510 | 13 | 1,636 | 1,843 | 16 | ||||||||||||||||||
Residential real estate: | ||||||||||||||||||||||||
Commercial | 2,750 | 2,653 | 27 | 21,235 | 20,732 | 61 | ||||||||||||||||||
Consumer | — | — | — | 8 | 9 | — | ||||||||||||||||||
Total | $ | 61,750 | $ | 52,511 | $ | 386 | $ | 73,144 | $ | 67,672 | $ | 437 |
Six Months Ended June 30, 2018 | Six Months Ended June 30, 2017 | |||||||||||||||||||||||
(In thousands) | Recorded Investment as of June 30, 2018 | Average Recorded Investment | Interest Income Recognized | Recorded Investment as of June 30, 2017 | Average Recorded Investment | Interest Income Recognized | ||||||||||||||||||
Commercial, financial and agricultural | $ | 29,943 | $ | 23,402 | $ | 319 | $ | 28,475 | $ | 21,789 | $ | 340 | ||||||||||||
Commercial real estate | 26,528 | 19,519 | 403 | 21,790 | 22,504 | 471 | ||||||||||||||||||
Construction real estate: | ||||||||||||||||||||||||
Commercial | 2,529 | 1,451 | 27 | 1,636 | 1,960 | 31 | ||||||||||||||||||
Residential real estate: | ||||||||||||||||||||||||
Commercial | 2,750 | 7,511 | 58 | 21,235 | 21,220 | 406 | ||||||||||||||||||
Consumer | — | — | — | 8 | 6 | — | ||||||||||||||||||
Total | $ | 61,750 | $ | 51,883 | $ | 807 | $ | 73,144 | $ | 67,479 | $ | 1,248 |
June 30, 2018 | |||||||||||||||||||
(In thousands) | Accruing Loans Past Due 30-89 Days | Past Due Nonaccrual Loans and Loans Past Due 90 Days or More and Accruing (1) | Total Past Due | Total Current (2) | Total Recorded Investment | ||||||||||||||
Commercial, financial and agricultural | $ | 3,556 | $ | 12,913 | $ | 16,469 | $ | 1,002,920 | $ | 1,019,389 | |||||||||
Commercial real estate | 156 | 2,104 | 2,260 | 1,152,826 | 1,155,086 | ||||||||||||||
Construction real estate: | |||||||||||||||||||
Commercial | 41 | 1,821 | 1,862 | 134,619 | 136,481 | ||||||||||||||
Mortgage | 506 | — | 506 | 52,516 | 53,022 | ||||||||||||||
Installment | 39 | 17 | 56 | 2,918 | 2,974 | ||||||||||||||
Residential real estate: | |||||||||||||||||||
Commercial | — | 1,112 | 1,112 | 390,608 | 391,720 | ||||||||||||||
Mortgage | 12,214 | 8,169 | 20,383 | 1,075,632 | 1,096,015 | ||||||||||||||
HELOC | 500 | 768 | 1,268 | 188,316 | 189,584 | ||||||||||||||
Installment | 190 | 322 | 512 | 16,136 | 16,648 | ||||||||||||||
Consumer | 9,527 | 1,932 | 11,459 | 1,266,487 | 1,277,946 | ||||||||||||||
Leases | — | — | — | 2,690 | 2,690 | ||||||||||||||
Total loans | $ | 26,729 | $ | 29,158 | $ | 55,887 | $ | 5,285,668 | $ | 5,341,555 |
December 31, 2017 | |||||||||||||||||||
(in thousands) | Accruing Loans Past Due 30-89 Days | Past Due Nonaccrual Loans and Loans Past Due 90 Days or More and Accruing (1) | Total Past Due | Total Current (2) | Total Recorded Investment | ||||||||||||||
Commercial, financial and agricultural | $ | 145 | $ | 1,043 | $ | 1,188 | $ | 1,056,678 | $ | 1,057,866 | |||||||||
Commercial real estate | 856 | 2,360 | 3,216 | 1,168,674 | 1,171,890 | ||||||||||||||
Construction real estate: | |||||||||||||||||||
Commercial | 29 | — | 29 | 125,761 | 125,790 | ||||||||||||||
Mortgage | 256 | — | 256 | 52,080 | 52,336 | ||||||||||||||
Installment | 54 | 19 | 73 | 3,818 | 3,891 | ||||||||||||||
Residential real estate: | |||||||||||||||||||
Commercial | 16 | 1,586 | 1,602 | 392,521 | 394,123 | ||||||||||||||
Mortgage | 11,515 | 9,232 | 20,747 | 1,091,195 | 1,111,942 | ||||||||||||||
HELOC | 616 | 876 | 1,492 | 202,660 | 204,152 | ||||||||||||||
Installment | 239 | 253 | 492 | 18,087 | 18,579 | ||||||||||||||
Consumer | 11,515 | 2,407 | 13,922 | 1,231,622 | 1,245,544 | ||||||||||||||
Leases | — | — | — | 3,029 | 3,029 | ||||||||||||||
Total loans | $ | 25,241 | $ | 17,776 | $ | 43,017 | $ | 5,346,125 | $ | 5,389,142 |
June 30, 2018 | |||||||||||||||||||
(In thousands) | 5 Rated | 6 Rated | Nonaccrual and Accruing TDRs | Pass-Rated | Recorded Investment | ||||||||||||||
Commercial, financial and agricultural * | $ | 1,195 | $ | 57 | $ | 30,034 | $ | 988,103 | $ | 1,019,389 | |||||||||
Commercial real estate * | 3,060 | — | 26,528 | 1,125,498 | 1,155,086 | ||||||||||||||
Construction real estate: | |||||||||||||||||||
Commercial | 21 | — | 2,529 | 133,931 | 136,481 | ||||||||||||||
Residential real estate: | |||||||||||||||||||
Commercial | 317 | 46 | 2,750 | 388,607 | 391,720 | ||||||||||||||
Leases | — | — | — | 2,690 | 2,690 | ||||||||||||||
Total commercial loans | $ | 4,593 | $ | 103 | $ | 61,841 | $ | 2,638,829 | $ | 2,705,366 |
December 31, 2017 | |||||||||||||||||||
(In thousands) | 5 Rated | 6 Rated | Nonaccrual and Accruing TDRs | Pass-Rated | Recorded Investment | ||||||||||||||
Commercial, financial and agricultural * | $ | 17,272 | $ | 153 | $ | 18,064 | $ | 1,022,377 | $ | 1,057,866 | |||||||||
Commercial real estate * | 5,322 | 457 | 18,142 | 1,147,969 | 1,171,890 | ||||||||||||||
Construction real estate: | |||||||||||||||||||
Commercial | 278 | — | 1,324 | 124,188 | 125,790 | ||||||||||||||
Residential real estate: | |||||||||||||||||||
Commercial | 216 | 1 | 19,059 | 374,847 | 394,123 | ||||||||||||||
Leases | — | — | — | 3,029 | 3,029 | ||||||||||||||
Total Commercial Loans | $ | 23,088 | $ | 611 | $ | 56,589 | $ | 2,672,410 | $ | 2,752,698 |
Three Months Ended June 30, 2018 | ||||||||||||||
(In thousands) | Number of Contracts | Accruing | Nonaccrual | Total Recorded Investment | ||||||||||
Commercial, financial and agricultural | 4 | $ | 123 | $ | 26 | $ | 149 | |||||||
Commercial real estate | 3 | 455 | 134 | 589 | ||||||||||
Construction real estate: | ||||||||||||||
Commercial | — | — | — | — | ||||||||||
Mortgage | — | — | — | — | ||||||||||
Installment | 2 | 14 | — | 14 | ||||||||||
Residential real estate: | ||||||||||||||
Commercial | — | — | — | — | ||||||||||
Mortgage | 4 | 93 | 224 | 317 | ||||||||||
HELOC | 6 | 409 | 43 | 452 | ||||||||||
Installment | 4 | 71 | 4 | 75 | ||||||||||
Consumer | 85 | 58 | 720 | 778 | ||||||||||
Total loans | 108 | $ | 1,223 | $ | 1,151 | $ | 2,374 |
Three Months Ended June 30, 2017 | ||||||||||||||
(In thousands) | Number of Contracts | Accruing | Nonaccrual | Total Recorded Investment | ||||||||||
Commercial, financial and agricultural | 3 | $ | — | $ | 164 | $ | 164 | |||||||
Commercial real estate | 2 | 802 | — | 802 | ||||||||||
Construction real estate: | ||||||||||||||
Commercial | — | — | — | — | ||||||||||
Mortgage | 1 | — | 8 | 8 | ||||||||||
Installment | — | — | — | — | ||||||||||
Residential real estate: | ||||||||||||||
Commercial | 4 | — | 282 | 282 | ||||||||||
Mortgage | 10 | 438 | 506 | 944 | ||||||||||
HELOC | 9 | 160 | 48 | 208 | ||||||||||
Installment | 2 | 40 | — | 40 | ||||||||||
Consumer | 72 | 37 | 551 | 588 | ||||||||||
Total loans | 103 | $ | 1,477 | $ | 1,559 | $ | 3,036 |
Six Months Ended June 30, 2018 | ||||||||||||||
(In thousands) | Number of Contracts | Accruing | Nonaccrual | Total Recorded Investment | ||||||||||
Commercial, financial and agricultural | 8 | $ | 123 | $ | 70 | $ | 193 | |||||||
Commercial real estate | 6 | 455 | 265 | 720 | ||||||||||
Construction real estate: | ||||||||||||||
Commercial | 1 | — | — | — | ||||||||||
Mortgage | — | — | — | — | ||||||||||
Installment | 2 | 14 | — | 14 | ||||||||||
Residential real estate: | ||||||||||||||
Commercial | — | — | — | — | ||||||||||
Mortgage | 13 | 93 | 868 | 961 | ||||||||||
HELOC | 8 | 661 | 130 | 791 | ||||||||||
Installment | 9 | 104 | 17 | 121 | ||||||||||
Consumer | 135 | 61 | 906 | 967 | ||||||||||
Total loans | 182 | $ | 1,511 | $ | 2,256 | $ | 3,767 |
Six Months Ended June 30, 2017 | ||||||||||||||
(In thousands) | Number of Contracts | Accruing | Nonaccrual | Total Recorded Investment | ||||||||||
Commercial, financial and agricultural | 11 | $ | — | $ | 3,052 | $ | 3,052 | |||||||
Commercial real estate | 6 | 803 | 380 | 1,183 | ||||||||||
Construction real estate: | ||||||||||||||
Commercial | — | — | — | — | ||||||||||
Mortgage | 1 | — | 8 | 8 | ||||||||||
Installment | — | — | — | — | ||||||||||
Residential real estate: | ||||||||||||||
Commercial | 5 | — | 282 | 282 | ||||||||||
Mortgage | 19 | 438 | 1,110 | 1,548 | ||||||||||
HELOC | 12 | 359 | 47 | 406 | ||||||||||
Installment | 3 | 73 | — | 73 | ||||||||||
Consumer | 129 | 52 | 965 | 1,017 | ||||||||||
Total loans | 186 | $ | 1,725 | $ | 5,844 | $ | 7,569 |
Three Months Ended June 30, 2018 | Three Months Ended June 30, 2017 | ||||||||||||||
(In thousands) | Number of Contracts | Recorded Investment | Number of Contracts | Recorded Investment | |||||||||||
Commercial, financial and agricultural | 3 | $ | 144 | 4 | $ | 109 | |||||||||
Commercial real estate | — | — | 4 | 657 | |||||||||||
Construction real estate: | |||||||||||||||
Commercial | — | — | — | — | |||||||||||
Mortgage | — | — | — | — | |||||||||||
Installment | — | — | — | — | |||||||||||
Residential real estate: | |||||||||||||||
Commercial | — | — | 1 | 29 | |||||||||||
Mortgage | 6 | 600 | 10 | 724 | |||||||||||
HELOC | 1 | 88 | 2 | 10 | |||||||||||
Installment | — | — | 1 | 2 | |||||||||||
Consumer | 42 | 403 | 48 | 579 | |||||||||||
Leases | — | — | — | — | |||||||||||
Total loans | 52 | $ | 1,235 | 70 | $ | 2,110 |
Six Months Ended June 30, 2018 | Six Months Ended June 30, 2017 | ||||||||||||||
(In thousands) | Number of Contracts | Recorded Investment | Number of Contracts | Recorded Investment | |||||||||||
Commercial, financial and agricultural | 3 | $ | 144 | 4 | $ | 109 | |||||||||
Commercial real estate | — | — | 5 | 834 | |||||||||||
Construction real estate: | |||||||||||||||
Commercial | — | — | — | — | |||||||||||
Mortgage | — | — | — | — | |||||||||||
Installment | — | — | — | — | |||||||||||
Residential real estate: | |||||||||||||||
Commercial | — | — | 1 | 29 | |||||||||||
Mortgage | 7 | 703 | 10 | 724 | |||||||||||
HELOC | 1 | 88 | 2 | 10 | |||||||||||
Installment | — | — | 1 | 2 | |||||||||||
Consumer | 47 | 445 | 56 | 618 | |||||||||||
Leases | — | — | — | — | |||||||||||
Total loans | 58 | $ | 1,380 | 79 | $ | 2,326 |
• | Historical Loss Factor: Management updated the historical loss calculation during the fourth quarter of 2017, incorporating net charge-offs plus changes in specific reserves through December 31, 2017. With the addition of 2017 historical losses, management extended the historical loss period to 96 months from 84 months. The 96-month historical loss period captures all annual periods subsequent to June 2009, the end of the most recent recession, thus encompassing the full economic cycle to date. |
• | Loss Emergence Period Factor: At least annually, management calculates the loss emergence period for each commercial loan segment. This loss emergence period is calculated based upon the average period of time it takes from the probable occurrence of a loss event to the credit being moved to nonaccrual. If the loss emergence period for any commercial loan segment is greater than one year, management applies additional general reserves to all performing loans within that segment of the commercial loan portfolio. The loss emergence period was last updated in the fourth quarter of 2017. |
• | Loss Migration Factor: Park’s commercial loans are individually risk graded. If loan downgrades occur, the probability of default increases, and accordingly, management allocates a higher percentage reserve to those accruing commercial loans graded special mention and substandard. Annually, management calculates a loss migration factor for each commercial loan segment for special mention and substandard credits based on a review of losses over the period of time a loan takes to migrate from pass-rated to impaired. The loss migration factor was last updated in the fourth quarter of 2017. |
• | Environmental Loss Factor: Management has identified certain macroeconomic factors that trend in accordance with losses in Park’s commercial loan portfolio. These macroeconomic factors are reviewed quarterly and the adjustments made to the environmental loss factor impacting each segment in the performing commercial loan portfolio correlate to changes in the macroeconomic environment. There was no change to the environmental loss factor during the second quarter of 2018. |
Three Months Ended June 30, 2018 | |||||||||||||||||||||||||||
(In thousands) | Commercial, financial and agricultural | Commercial real estate | Construction real estate | Residential real estate | Consumer | Leases | Total | ||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||||
Beginning balance | $ | 14,077 | $ | 9,488 | $ | 4,463 | $ | 9,415 | $ | 11,526 | $ | — | $ | 48,969 | |||||||||||||
Charge-offs | 287 | 182 | 31 | 102 | 2,114 | — | 2,716 | ||||||||||||||||||||
Recoveries | 206 | 89 | 220 | 244 | 1,054 | — | 1,813 | ||||||||||||||||||||
Net charge-offs/(recoveries) | 81 | 93 | (189 | ) | (142 | ) | 1,060 | — | 903 | ||||||||||||||||||
Provision/(recovery) | 482 | 11 | — | (312 | ) | 1,205 | — | 1,386 | |||||||||||||||||||
Ending balance | $ | 14,478 | $ | 9,406 | $ | 4,652 | $ | 9,245 | $ | 11,671 | $ | — | $ | 49,452 |
Three Months Ended June 30, 2017 | |||||||||||||||||||||||||||
(In thousands) | Commercial, financial and agricultural | Commercial real estate | Construction real estate | Residential real estate | Consumer | Leases | Total | ||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||||
Beginning balance | $ | 13,437 | $ | 10,281 | $ | 4,368 | $ | 10,745 | $ | 11,091 | $ | — | $ | 49,922 | |||||||||||||
Charge-offs | 318 | 310 | — | 290 | 2,128 | — | 3,046 | ||||||||||||||||||||
Recoveries | 163 | 241 | 325 | 336 | 1,300 | — | 2,365 | ||||||||||||||||||||
Net charge-offs/(recoveries) | 155 | 69 | (325 | ) | (46 | ) | 828 | — | 681 | ||||||||||||||||||
Provision/(recovery) | 3,464 | 239 | (16 | ) | (472 | ) | 1,366 | — | 4,581 | ||||||||||||||||||
Ending balance | $ | 16,746 | $ | 10,451 | $ | 4,677 | $ | 10,319 | $ | 11,629 | $ | — | $ | 53,822 |
Six Months Ended June 30, 2018 | |||||||||||||||||||||||||||
(In thousands) | Commercial, financial and agricultural | Commercial real estate | Construction real estate | Residential real estate | Consumer | Leases | Total | ||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||||
Beginning balance | $ | 15,022 | $ | 9,601 | $ | 4,430 | $ | 9,321 | $ | 11,614 | $ | — | $ | 49,988 | |||||||||||||
Charge-offs | 936 | 229 | 31 | 218 | 4,752 | — | 6,166 | ||||||||||||||||||||
Recoveries | 858 | 176 | 279 | 604 | 2,067 | — | 3,984 | ||||||||||||||||||||
Net charge-offs/(recoveries) | 78 | 53 | (248 | ) | (386 | ) | 2,685 | — | 2,182 | ||||||||||||||||||
(Recovery)/provision | (466 | ) | (142 | ) | (26 | ) | (462 | ) | 2,742 | — | 1,646 | ||||||||||||||||
Ending balance | $ | 14,478 | $ | 9,406 | $ | 4,652 | $ | 9,245 | $ | 11,671 | $ | — | $ | 49,452 |
Six Months Ended June 30, 2017 | |||||||||||||||||||||||||||
(In thousands) | Commercial, financial and agricultural | Commercial real estate | Construction real estate | Residential real estate | Consumer | Leases | Total | ||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||||
Beginning balance | $ | 13,434 | $ | 10,432 | $ | 5,247 | $ | 10,958 | $ | 10,553 | $ | — | $ | 50,624 | |||||||||||||
Charge-offs | 657 | 422 | 27 | 770 | 4,878 | — | 6,754 | ||||||||||||||||||||
Recoveries | 532 | 355 | 383 | 627 | 2,598 | — | 4,495 | ||||||||||||||||||||
Net charge-offs/(recoveries) | 125 | 67 | (356 | ) | 143 | 2,280 | — | 2,259 | |||||||||||||||||||
Provision/(recovery) | 3,437 | 86 | (926 | ) | (496 | ) | 3,356 | — | 5,457 | ||||||||||||||||||
Ending balance | $ | 16,746 | $ | 10,451 | $ | 4,677 | $ | 10,319 | $ | 11,629 | $ | — | $ | 53,822 |
June 30, 2018 | |||||||||||||||||||||||||||
(In thousands) | Commercial, financial and agricultural | Commercial real estate | Construction real estate | Residential real estate | Consumer | Leases | Total | ||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||||
Ending allowance balance attributed to loans: | |||||||||||||||||||||||||||
Individually evaluated for impairment | $ | 1,366 | $ | 27 | $ | — | $ | 3 | $ | — | $ | — | $ | 1,396 | |||||||||||||
Collectively evaluated for impairment | 13,112 | 9,379 | 4,652 | 9,242 | 11,671 | — | 48,056 | ||||||||||||||||||||
Total ending allowance balance | $ | 14,478 | $ | 9,406 | $ | 4,652 | $ | 9,245 | $ | 11,671 | $ | — | $ | 49,452 | |||||||||||||
Loan balance: | |||||||||||||||||||||||||||
Loans individually evaluated for impairment | $ | 29,942 | $ | 26,485 | $ | 2,529 | $ | 2,749 | $ | — | $ | — | $ | 61,705 | |||||||||||||
Loans collectively evaluated for impairment | 984,681 | 1,124,360 | 189,389 | 1,687,823 | 1,274,349 | 2,667 | 5,263,269 | ||||||||||||||||||||
Total ending loan balance | $ | 1,014,623 | $ | 1,150,845 | $ | 191,918 | $ | 1,690,572 | $ | 1,274,349 | $ | 2,667 | $ | 5,324,974 | |||||||||||||
Allowance for loan losses as a percentage of loan balance: | |||||||||||||||||||||||||||
Loans individually evaluated for impairment | 4.56 | % | 0.10 | % | — | % | 0.11 | % | — | % | — | % | 2.26 | % | |||||||||||||
Loans collectively evaluated for impairment | 1.33 | % | 0.83 | % | 2.46 | % | 0.55 | % | 0.92 | % | — | % | 0.91 | % | |||||||||||||
Total | 1.43 | % | 0.82 | % | 2.42 | % | 0.55 | % | 0.92 | % | — | % | 0.93 | % | |||||||||||||
Recorded investment: | |||||||||||||||||||||||||||
Loans individually evaluated for impairment | $ | 29,943 | $ | 26,528 | $ | 2,529 | $ | 2,750 | $ | — | $ | — | $ | 61,750 | |||||||||||||
Loans collectively evaluated for impairment | 989,446 | 1,128,558 | 189,948 | 1,691,217 | 1,277,946 | 2,690 | 5,279,805 | ||||||||||||||||||||
Total ending recorded investment | $ | 1,019,389 | $ | 1,155,086 | $ | 192,477 | $ | 1,693,967 | $ | 1,277,946 | $ | 2,690 | $ | 5,341,555 |
December 31, 2017 | ||||||||||||||||||||||||||||
(In thousands) | Commercial, financial and agricultural | Commercial real estate | Construction real estate | Residential real estate | Consumer | Leases | Total | |||||||||||||||||||||
Allowance for loan losses: | ||||||||||||||||||||||||||||
Ending allowance balance attributed to loans: | ||||||||||||||||||||||||||||
Individually evaluated for impairment | $ | 681 | $ | 2 | $ | — | $ | 1 | $ | — | $ | — | $ | 684 | ||||||||||||||
Collectively evaluated for impairment | 14,341 | 9,599 | 4,430 | 9,320 | 11,614 | — | 49,304 | |||||||||||||||||||||
Total ending allowance balance | $ | 15,022 | $ | 9,601 | $ | 4,430 | $ | 9,321 | $ | 11,614 | $ | — | $ | 49,988 | ||||||||||||||
Loan balance: | ||||||||||||||||||||||||||||
Loans individually evaluated for impairment | $ | 18,034 | $ | 18,131 | $ | 1,322 | $ | 19,058 | $ | — | $ | — | $ | 56,545 | ||||||||||||||
Loans collectively evaluated for impairment | 1,035,419 | 1,149,476 | 180,148 | 1,706,166 | 1,241,736 | 2,993 | 5,315,938 | |||||||||||||||||||||
Total ending loan balance | $ | 1,053,453 | $ | 1,167,607 | $ | 181,470 | $ | 1,725,224 | $ | 1,241,736 | $ | 2,993 | $ | 5,372,483 | ||||||||||||||
Allowance for loan losses as a percentage of loan balance: | ||||||||||||||||||||||||||||
Loans individually evaluated for impairment | 3.78 | % | 0.01 | % | — | % | 0.01 | % | — | % | — | % | 1.21 | % | ||||||||||||||
Loans collectively evaluated for impairment | 1.39 | % | 0.84 | % | 2.46 | % | 0.55 | % | 0.94 | % | — | % | 0.93 | % | ||||||||||||||
Total | 1.43 | % | 0.82 | % | 2.44 | % | 0.54 | % | 0.94 | % | — | % | 0.93 | % | ||||||||||||||
Recorded investment: | ||||||||||||||||||||||||||||
Loans individually evaluated for impairment | $ | 18,039 | $ | 18,142 | $ | 1,324 | $ | 19,059 | $ | — | $ | — | $ | 56,564 | ||||||||||||||
Loans collectively evaluated for impairment | 1,039,827 | 1,153,748 | 180,693 | 1,709,737 | 1,245,544 | 3,029 | 5,332,578 | |||||||||||||||||||||
Total ending recorded investment | $ | 1,057,866 | $ | 1,171,890 | $ | 182,017 | $ | 1,728,796 | $ | 1,245,544 | $ | 3,029 | $ | 5,389,142 |
(in thousands) | June 30, 2018 | December 31, 2017 | ||||||
OREO: | ||||||||
Commercial real estate | $ | 2,295 | $ | 7,888 | ||||
Construction real estate | 2,425 | 4,852 | ||||||
Residential real estate | 1,009 | 1,450 | ||||||
Total OREO | $ | 5,729 | $ | 14,190 | ||||
Loans in process of foreclosure: | ||||||||
Residential real estate | $ | 2,633 | $ | 2,948 |
Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||
(In thousands, except share and per common share data) | 2018 | 2017 | 2018 | 2017 | ||||||||||||
Numerator: | ||||||||||||||||
Net income | $ | 28,241 | $ | 19,032 | $ | 59,364 | $ | 39,299 | ||||||||
Denominator: | ||||||||||||||||
Weighted-average common shares outstanding | 15,285,532 | 15,297,085 | 15,286,932 | 15,304,572 | ||||||||||||
Effect of dilutive performance-based restricted stock units | 132,075 | 101,780 | 137,653 | 111,193 | ||||||||||||
Weighted-average common shares outstanding adjusted for the effect of dilutive performance-based restricted stock units | 15,417,607 | 15,398,865 | 15,424,585 | 15,415,765 | ||||||||||||
Earnings per common share: | ||||||||||||||||
Basic earnings per common share | $ | 1.85 | $ | 1.24 | $ | 3.88 | $ | 2.57 | ||||||||
Diluted earnings per common share | $ | 1.83 | $ | 1.24 | $ | 3.85 | $ | 2.55 |
Operating Results for the three months ended June 30, 2018 | ||||||||||||||||||||
(In thousands) | PNB | GFSC | SEPH | All Other | Total | |||||||||||||||
Net interest income | $ | 62,683 | $ | 1,261 | $ | 616 | $ | 182 | $ | 64,742 | ||||||||||
Provision for (recovery of) loan losses | 1,623 | 87 | (324 | ) | — | 1,386 | ||||||||||||||
Other income | 22,070 | 42 | 71 | 1,059 | 23,242 | |||||||||||||||
Other expense | 48,169 | 842 | 857 | 2,666 | 52,534 | |||||||||||||||
Income (loss) before income taxes | $ | 34,961 | $ | 374 | $ | 154 | $ | (1,425 | ) | $ | 34,064 | |||||||||
Federal income tax expense (benefit) | 6,164 | 79 | 32 | (452 | ) | 5,823 | ||||||||||||||
Net income (loss) | $ | 28,797 | $ | 295 | $ | 122 | $ | (973 | ) | $ | 28,241 | |||||||||
Assets (as of June 30, 2018) | $ | 7,404,498 | $ | 29,232 | $ | 7,786 | $ | 20,640 | $ | 7,462,156 |
Operating Results for the three months ended June 30, 2017 | ||||||||||||||||||||
(In thousands) | PNB | GFSC | SEPH | All Other | Total | |||||||||||||||
Net interest income | $ | 57,822 | $ | 1,491 | $ | 282 | $ | 183 | $ | 59,778 | ||||||||||
Provision for (recovery of) loan losses | 4,574 | 373 | (366 | ) | — | 4,581 | ||||||||||||||
Other income | 20,582 | 8 | 8 | 101 | 20,699 | |||||||||||||||
Other expense | 45,280 | 841 | 1,267 | 2,166 | 49,554 | |||||||||||||||
Income (loss) before income taxes | $ | 28,550 | $ | 285 | $ | (611 | ) | $ | (1,882 | ) | $ | 26,342 | ||||||||
Federal income tax expense (benefit) | 8,387 | 99 | (213 | ) | (963 | ) | 7,310 | |||||||||||||
Net income (loss) | $ | 20,163 | $ | 186 | $ | (398 | ) | $ | (919 | ) | $ | 19,032 | ||||||||
Assets (as of June 30, 2017) | $ | 7,754,898 | $ | 33,860 | $ | 24,595 | $ | 18,739 | $ | 7,832,092 |
Operating Results for the six months ended June 30, 2018 | ||||||||||||||||||||
(In thousands) | PNB | GFSC | SEPH | All Other | Total | |||||||||||||||
Net interest income | $ | 124,124 | $ | 2,566 | $ | 2,493 | $ | 409 | $ | 129,592 | ||||||||||
Provision for (recovery of) loan losses | 1,556 | 590 | (500 | ) | — | 1,646 | ||||||||||||||
Other income | 41,985 | 72 | 3,658 | 4,430 | 50,145 | |||||||||||||||
Other expense | 97,170 | 1,602 | 2,882 | 5,188 | 106,842 | |||||||||||||||
Income (loss) before income taxes | $ | 67,383 | $ | 446 | $ | 3,769 | $ | (349 | ) | $ | 71,249 | |||||||||
Federal income tax expense (benefit) | 11,841 | 94 | 791 | (841 | ) | 11,885 | ||||||||||||||
Net income | $ | 55,542 | $ | 352 | $ | 2,978 | $ | 492 | $ | 59,364 |
Operating Results for the six months ended June 30, 2017 | ||||||||||||||||||||
(In thousands) | PNB | GFSC | SEPH | All Other | Total | |||||||||||||||
Net interest income | $ | 115,302 | $ | 2,969 | $ | 483 | $ | (24 | ) | $ | 118,730 | |||||||||
Provision for (recovery of) loan losses | 5,294 | 810 | (647 | ) | — | 5,457 | ||||||||||||||
Other income (loss) | 39,696 | 24 | 37 | (103 | ) | 39,654 | ||||||||||||||
Other expense | 90,486 | 1,593 | 2,072 | 4,313 | 98,464 | |||||||||||||||
Income (loss) before income taxes | $ | 59,218 | $ | 590 | $ | (905 | ) | $ | (4,440 | ) | $ | 54,463 | ||||||||
Federal income tax expense (benefit) | 17,569 | 206 | (316 | ) | (2,295 | ) | 15,164 | |||||||||||||
Net income (loss) | $ | 41,649 | $ | 384 | $ | (589 | ) | $ | (2,145 | ) | $ | 39,299 |
Debt Securities Available-for-Sale (In thousands) | Amortized Cost | Gross Unrealized Holding Gains | Gross Unrealized Holding Losses | Estimated Fair Value | ||||||||||||
U.S. Government sponsored entities' asset-backed securities | 1,127,511 | 476 | 36,309 | 1,091,678 | ||||||||||||
Total | $ | 1,127,511 | $ | 476 | $ | 36,309 | $ | 1,091,678 |
Debt Securities Held-to-Maturity (In thousands) | Amortized Cost | Gross Unrecognized Holding Gains | Gross Unrecognized Holding Losses | Estimated Fair Value | ||||||||||||
U.S. Government sponsored entities' asset-backed securities | $ | 47,192 | $ | 95 | $ | 1,236 | $ | 46,051 | ||||||||
Obligations of states and political subdivisions | 304,239 | 2,225 | $ | 4,323 | 302,141 | |||||||||||
Total | $ | 351,431 | $ | 2,320 | $ | 5,559 | $ | 348,192 |
Unrealized/unrecognized loss position for less than 12 months | Unrealized/unrecognized loss position for 12 months or longer | Total | ||||||||||||||||||||||
(In thousands) | Fair value | Unrealized/unrecognized losses | Fair value | Unrealized/unrecognized losses | Fair value | Unrealized/unrecognized losses | ||||||||||||||||||
Debt Securities Available-for-Sale | ||||||||||||||||||||||||
U.S. Government sponsored entities' asset-backed securities | 775,132 | 19,613 | $ | 279,486 | 16,696 | $ | 1,054,618 | 36,309 | ||||||||||||||||
Total | $ | 775,132 | $ | 19,613 | $ | 279,486 | $ | 16,696 | $ | 1,054,618 | $ | 36,309 | ||||||||||||
Debt Securities Held-to-Maturity | ||||||||||||||||||||||||
U.S. Government sponsored entities' asset-backed securities | $ | 40,016 | $ | 1,236 | $ | — | $ | — | $ | 40,016 | $ | 1,236 | ||||||||||||
Obligations of states and political subdivisions | 129,738 | $ | 2,237 | 58,541 | 2,086 | $ | 188,279 | 4,323 | ||||||||||||||||
Total | $ | 169,754 | $ | 3,473 | $ | 58,541 | $ | 2,086 | $ | 228,295 | $ | 5,559 |
Debt Securities Available-for-Sale (In thousands) | Amortized Cost | Gross Unrealized Holding Gains | Gross Unrealized Holding Losses | Estimated Fair Value | ||||||||||||
Obligations of U.S. Treasury and other U.S. Government sponsored entities | $ | 245,000 | $ | — | $ | 2,280 | $ | 242,720 | ||||||||
U.S. Government sponsored entities' asset-backed securities | 852,645 | 4,645 | 8,129 | 849,161 | ||||||||||||
Total | $ | 1,097,645 | $ | 4,645 | $ | 10,409 | $ | 1,091,881 |
Debt Securities Held-to-Maturity (In thousands) | Amortized Cost | Gross Unrecognized Holding Gains | Gross Unrecognized Holding Losses | Estimated Fair Value | ||||||||||||
Obligations of states and political subdivisions | $ | 300,412 | $ | 6,575 | $ | 713 | $ | 306,274 | ||||||||
U.S. Government sponsored entities' asset-backed securities | 56,785 | 758 | 38 | 57,505 | ||||||||||||
Total | $ | 357,197 | $ | 7,333 | $ | 751 | $ | 363,779 |
Unrealized/unrecognized loss position for less than 12 months | Unrealized/unrecognized loss position for 12 months or longer | Total | ||||||||||||||||||||||
(In thousands) | Fair value | Unrealized/unrecognized losses | Fair value | Unrealized/unrecognized losses | Fair value | Unrealized/unrecognized losses | ||||||||||||||||||
Debt Securities Available-for-Sale | ||||||||||||||||||||||||
Obligations of U.S. Treasury and other U.S. Government sponsored entities | $ | 24,931 | $ | 70 | $ | 217,789 | $ | 2,210 | $ | 242,720 | $ | 2,280 | ||||||||||||
U.S. Government sponsored entities' asset-backed securities | 236,924 | 2,786 | 318,797 | 5,343 | 555,721 | 8,129 | ||||||||||||||||||
Total | $ | 261,855 | $ | 2,856 | $ | 536,586 | $ | 7,553 | $ | 798,441 | $ | 10,409 | ||||||||||||
Debt Securities Held-to-Maturity | ||||||||||||||||||||||||
Obligations of states and political subdivisions | $ | 26,644 | $ | 194 | $ | 45,498 | $ | 519 | $ | 72,142 | $ | 713 | ||||||||||||
U.S. Government sponsored entities' asset-backed securities | 7,331 | 38 | — | — | 7,331 | 38 | ||||||||||||||||||
Total | $ | 33,975 | $ | 232 | $ | 45,498 | $ | 519 | $ | 79,473 | $ | 751 |
Securities Available-for-Sale (In thousands) | Amortized cost | Fair value | Tax equivalent yield | ||||||||
U.S. Government sponsored entities' asset-backed securities | $ | 1,127,511 | $ | 1,091,678 | 2.35 | % |
Securities Held-to-Maturity (In thousands) | Amortized cost | Fair value | Tax equivalent yield (1) | ||||||||
Obligations of state and political subdivisions: | |||||||||||
Due five through ten years | $ | 2,438 | $ | 2,395 | 2.97 | % | |||||
Due over ten years | $ | 301,801 | $ | 299,746 | 3.68 | % | |||||
Total (1) | $ | 304,239 | $ | 302,141 | 3.67 | % | |||||
U.S. Government sponsored entities' asset-backed securities | $ | 47,192 | $ | 46,051 | 2.83 | % |
(In thousands) | June 30, 2018 | December 31, 2017 | ||||||
FHLB stock | $ | 50,086 | $ | 50,086 | ||||
FRB stock | 8,225 | 8,225 | ||||||
Equity investments carried at fair value | 9,229 | 1,935 | ||||||
Equity investments carried at cost/modified cost (1) | 2,589 | 3,500 | ||||||
Total other investment securities | $ | 70,129 | $ | 63,746 |
Common shares subject to PBRSUs | ||
Nonvested at January 1, 2018 | 116,716 | |
Granted | 48,053 | |
Vested | (18,800 | ) |
Forfeited | (4,655 | ) |
Adjustment for performance conditions of PBRSUs (1) | (2,320 | ) |
Nonvested at June 30, 2018 | 138,994 |
(In thousands) | ||||
Six months ending December 31, 2018 | $ | 1,809 | ||
2019 | 3,084 | |||
2020 | 2,061 | |||
2021 | 841 | |||
2022 | 132 | |||
Total | $ | 7,927 |
Three Months Ended June 30, | Six Months Ended June 30, | Affected Line Item in the Consolidated Condensed Statement of Income | |||||||||||||||
(In thousands) | 2018 | 2017 | 2018 | 2017 | |||||||||||||
Service cost | $ | 1,637 | $ | 1,317 | $ | 3,274 | $ | 2,634 | Employee benefits | ||||||||
Interest cost | 1,309 | 1,271 | 2,618 | 2,542 | Other components of net periodic pension benefit income | ||||||||||||
Expected return on plan assets | (3,354 | ) | (2,863 | ) | (6,708 | ) | (5,726 | ) | Other components of net periodic pension benefit income | ||||||||
Amortization of prior service cost | — | — | — | — | Other components of net periodic pension benefit income | ||||||||||||
Recognized net actuarial loss | 340 | 144 | 680 | 288 | Other components of net periodic pension benefit income | ||||||||||||
Net periodic pension benefit income | $ | (68 | ) | $ | (131 | ) | $ | (136 | ) | $ | (262 | ) |
Three Months Ended June 30, | Six Months Ended June 30, | Affected Line Item in the Consolidated Condensed Statement of Income | |||||||||||||||
(In thousands) | 2018 | 2017 | 2018 | 2017 | |||||||||||||
Service cost | $ | 244 | $ | 185 | $ | 478 | $ | 370 | Employee benefits | ||||||||
Interest cost | 44 | 161 | 161 | 322 | Miscellaneous expense | ||||||||||||
Total SERP expense | $ | 288 | $ | 346 | $ | 639 | $ | 692 |
(in thousands) | Three Months Ended June 30, 2017 | Six Months Ended June 30, 2017 | ||||||
Other components of net periodic pension benefit income | ||||||||
As previously reported | $ | — | $ | — | ||||
As reported under new guidance | 1,448 | 2,896 | ||||||
Total other income | ||||||||
As previously reported | $ | 19,251 | $ | 36,758 | ||||
As reported under new guidance | 20,699 | 39,654 | ||||||
Employee benefits expense | ||||||||
As previously reported | $ | 4,919 | $ | 10,100 | ||||
As reported under new guidance | 6,206 | 12,674 | ||||||
Miscellaneous expense | ||||||||
As previously reported | $ | 1,588 | $ | 3,083 | ||||
As reported under new guidance | 1,749 | 3,405 | ||||||
Total other expense | ||||||||
As previously reported | $ | 48,106 | $ | 95,568 | ||||
As reported under new guidance | 49,554 | 98,464 |
Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||
(In thousands) | 2018 | 2017 | 2018 | 2017 | ||||||||||||
Mortgage servicing rights: | ||||||||||||||||
Carrying amount, net, beginning of period | $ | 9,969 | $ | 9,321 | $ | 9,688 | $ | 9,266 | ||||||||
Additions | 448 | 521 | 776 | 875 | ||||||||||||
Amortization | (417 | ) | (407 | ) | (769 | ) | (765 | ) | ||||||||
Changes in valuation allowance | 77 | 41 | 382 | 100 | ||||||||||||
Carrying amount, net, end of period | $ | 10,077 | $ | 9,476 | $ | 10,077 | $ | 9,476 | ||||||||
Valuation allowance: | ||||||||||||||||
Beginning of period | $ | 325 | $ | 676 | $ | 630 | $ | 735 | ||||||||
Changes in valuation allowance | (77 | ) | (41 | ) | (382 | ) | (100 | ) | ||||||||
End of period | $ | 248 | $ | 635 | $ | 248 | $ | 635 |
• | Level 1: Quoted prices (unadjusted) for identical assets or liabilities in active markets that Park has the ability to access as of the measurement date. |
• | Level 2: Level 1 inputs for assets or liabilities that are not actively traded. Also consists of an observable market price for a similar asset or liability. This includes the use of “matrix pricing” to value debt securities absent the exclusive use of quoted prices. |
• | Level 3: Consists of unobservable inputs that are used to measure fair value when observable market inputs are not available. This could include the use of internally developed models, financial forecasting and similar inputs. |
Fair Value Measurements at June 30, 2018 using: | ||||||||||||||||
(In thousands) | Level 1 | Level 2 | Level 3 | Balance at June 30, 2018 | ||||||||||||
Assets | ||||||||||||||||
Investment securities: | ||||||||||||||||
U.S. Government sponsored entities’ asset-backed securities | $ | — | $ | 1,091,678 | $ | — | $ | 1,091,678 | ||||||||
Equity securities | 8,809 | — | 420 | 9,229 | ||||||||||||
Mortgage loans held for sale | — | 8,154 | — | 8,154 | ||||||||||||
Mortgage IRLCs | — | 141 | — | 141 | ||||||||||||
Liabilities | ||||||||||||||||
Fair value swap | $ | — | $ | — | $ | 226 | $ | 226 |
Fair Value Measurements at December 31, 2017 using: | ||||||||||||||||
(In thousands) | Level 1 | Level 2 | Level 3 | Balance at December 31, 2017 | ||||||||||||
Assets | ||||||||||||||||
Investment securities: | ||||||||||||||||
Obligations of U.S. Treasury and other U.S. Government sponsored entities | $ | — | $ | 242,720 | $ | — | $ | 242,720 | ||||||||
U.S. Government sponsored entities’ asset-backed securities | — | 849,161 | — | 849,161 | ||||||||||||
Equity securities | 1,518 | — | 417 | 1,935 | ||||||||||||
Mortgage loans held for sale | — | 4,148 | — | 4,148 | ||||||||||||
Mortgage IRLCs | — | 94 | — | 94 | ||||||||||||
Liabilities | ||||||||||||||||
Fair value swap | $ | — | $ | — | $ | 226 | $ | 226 |
(In thousands) | Equity Securities | Fair value swap | ||||||
Balance at April 1, 2018 | $ | 420 | $ | (226 | ) | |||
Total gains/(losses) | ||||||||
Included in other income | — | — | ||||||
Balance at June 30, 2018 | $ | 420 | $ | (226 | ) | |||
Balance at April 1, 2017 | $ | 776 | $ | (226 | ) | |||
Total gains/(losses) | ||||||||
Transfers out of Level 3 (1) | (330 | ) | — | |||||
Included in other comprehensive income | 12 | — | ||||||
Balance at June 30, 2017 | $ | 458 | $ | (226 | ) |
(In thousands) | Equity Securities | Fair value swap | ||||||
Balance at January 1, 2018 | $ | 417 | $ | (226 | ) | |||
Total gains/(losses) | ||||||||
Included in other income | 3 | — | ||||||
Balance at June 30, 2018 | $ | 420 | $ | (226 | ) | |||
Balance at January 1, 2017 | $ | 790 | $ | (226 | ) | |||
Total gains/(losses) | ||||||||
Transfers out of Level 3 (1) | (346 | ) | — | |||||
Included in other comprehensive income | 14 | — | ||||||
Balance at June 30, 2017 | $ | 458 | $ | (226 | ) |
• | Real estate appraisals typically incorporate measures such as recent sales prices for comparable properties. Appraisers may make adjustments to the sales prices of the comparable properties as deemed appropriate based on the age, condition or general characteristics of the subject property. Management generally applies a 15% discount to real estate appraised values which management expects will cover all disposition costs (including selling costs). This 15% discount is based on historical discounts to appraised values on sold OREO properties. |
• | Income approach appraisals typically incorporate the annual net operating income of the business divided by an appropriate capitalization rate, as determined by the appraiser. Management generally applies a 15% discount to income approach appraised values which management expects will cover all disposition costs (including selling costs). |
• | Lot development loan appraisals are typically performed using a discounted cash flow analysis. Appraisers determine an anticipated absorption period and a discount rate that takes into account an investor’s required rate of return based on recent comparable sales. Management generally applies a 6% discount to lot development appraised values, which is an additional discount above the net present value calculation included in the appraisal, to account for selling costs. |
Fair Value Measurements at June 30, 2018 using: | ||||||||||||||||
(In thousands) | Level 1 | Level 2 | Level 3 | Balance at June 30, 2018 | ||||||||||||
Impaired loans recorded at fair value: | ||||||||||||||||
Commercial real estate | $ | — | $ | — | $ | 4,192 | $ | 4,192 | ||||||||
Construction real estate | — | — | 1,635 | 1,635 | ||||||||||||
Residential real estate | — | — | 643 | 643 | ||||||||||||
Total impaired loans recorded at fair value | $ | — | $ | — | $ | 6,470 | $ | 6,470 | ||||||||
Mortgage servicing rights | $ | — | $ | 869 | $ | — | $ | 869 | ||||||||
OREO: | ||||||||||||||||
Commercial real estate | — | — | 2,295 | 2,295 | ||||||||||||
Construction real estate | — | — | 1,123 | 1,123 | ||||||||||||
Residential real estate | — | — | 887 | 887 | ||||||||||||
Total OREO recorded at fair value | $ | — | $ | — | $ | 4,305 | $ | 4,305 |
Fair Value Measurements at December 31, 2017 using: | ||||||||||||||||
(In thousands) | Level 1 | Level 2 | Level 3 | Balance at December 31, 2017 | ||||||||||||
Impaired loans recorded at fair value: | ||||||||||||||||
Commercial real estate | $ | — | $ | — | $ | 2,735 | $ | 2,735 | ||||||||
Construction real estate | — | — | 127 | 127 | ||||||||||||
Residential real estate | — | — | 712 | 712 | ||||||||||||
Total impaired loans recorded at fair value | $ | — | $ | — | $ | 3,574 | $ | 3,574 | ||||||||
Mortgage servicing rights | $ | — | $ | 7,316 | $ | — | $ | 7,316 | ||||||||
OREO: | ||||||||||||||||
Commercial real estate | — | — | 2,295 | 2,295 | ||||||||||||
Construction real estate | — | — | 3,204 | 3,204 | ||||||||||||
Residential real estate | — | — | 1,021 | 1,021 | ||||||||||||
Total OREO recorded at fair value | $ | — | $ | — | $ | 6,520 | $ | 6,520 |
June 30, 2018 | ||||||||||||||||
(In thousands) | Recorded Investment | Prior Charge-Offs | Specific Valuation Allowance | Carrying Balance | ||||||||||||
Impaired loans recorded at fair value | $ | 6,499 | $ | 4,075 | $ | 29 | $ | 6,470 | ||||||||
Remaining impaired loans | 55,251 | 7,309 | 1,367 | 53,884 | ||||||||||||
Total impaired loans | $ | 61,750 | $ | 11,384 | $ | 1,396 | $ | 60,354 |
December 31, 2017 | ||||||||||||||||
(In thousands) | Recorded Investment | Prior Charge-Offs | Specific Valuation Allowance | Carrying Balance | ||||||||||||
Impaired loans recorded at fair value | $ | 3,577 | $ | 2,780 | $ | 3 | $ | 3,574 | ||||||||
Remaining impaired loans | 52,987 | 7,260 | 681 | 52,306 | ||||||||||||
Total impaired loans | $ | 56,564 | $ | 10,040 | $ | 684 | $ | 55,880 |
June 30, 2018 | ||||||||||
(In thousands) | Fair Value | Valuation Technique | Unobservable Input(s) | Range (Weighted Average) | ||||||
Impaired loans: | ||||||||||
Commercial real estate | $ | 4,192 | Sales comparison approach | Adj to comparables | 0.0% - 55.0% (25.4%) | |||||
Income approach | Capitalization rate | 10.6% - 11.8% (11.5%) | ||||||||
Cost approach | Accumulated depreciation | 3.7% - 90.1% (13.1%) | ||||||||
Construction real estate | $ | 1,635 | Sales comparison approach | Adj to comparables | 5.0% - 90.0% (26.1%) | |||||
Residential real estate | $ | 643 | Sales comparison approach | Adj to comparables | 1.7% - 40.0% (18.5%) | |||||
Income approach | Capitalization rate | 10.5% (10.5%) | ||||||||
Other real estate owned: | ||||||||||
Commercial real estate | $ | 2,295 | Sales comparison approach | Adj to comparables | 0.9% - 68.4% (34.7%) | |||||
Income approach | Capitalization rate | 13.0% (13.0%) | ||||||||
Construction real estate | $ | 1,123 | Sales comparison approach | Adj to comparables | 0.0% - 45.0% (21.7%) | |||||
Residential real estate | $ | 887 | Sales comparison approach | Adj to comparables | 0.4% - 54.6% (33.2%) |
Balance at December 31, 2017 | ||||||||||
(In thousands) | Fair Value | Valuation Technique | Unobservable Input(s) | Range (Weighted Average) | ||||||
Impaired loans: | ||||||||||
Commercial real estate | $ | 2,735 | Sales comparison approach | Adj to comparables | 0.0% - 90.0% (22.7%) | |||||
Income approach | Capitalization rate | 9.0% - 11.0% (9.9%) | ||||||||
Cost approach | Accumulated depreciation | 90.1% (90.1%) | ||||||||
Construction real estate | $ | 127 | Sales comparison approach | Adj to comparables | 0.0% - 4.8% (2.4%) | |||||
Residential real estate | $ | 712 | Sales comparison approach | Adj to comparables | 0.3% - 33.0% (12.5%) | |||||
Income approach | Capitalization rate | 10.5% (10.5%) | ||||||||
Other real estate owned: | ||||||||||
Commercial real estate | $ | 2,295 | Sales comparison approach | Adj to comparables | 0.9% - 68.4% (34.7%) | |||||
Income approach | Capitalization rate | 13.0% (13.0%) | ||||||||
Construction real estate | $ | 3,204 | Sales comparison approach | Adj to comparables | 0.0% - 90.0% (24.5%) | |||||
Bulk sale approach | Discount rate | 15.0% (15.0%) | ||||||||
Residential real estate | $ | 1,021 | Sales comparison approach | Adj to comparables | 1.2% - 79.7% (31.8%) |
June 30, 2018 | ||||||||||||||||||||
Fair Value Measurements | ||||||||||||||||||||
(In thousands) | Carrying value | Level 1 | Level 2 | Level 3 | Total fair value | |||||||||||||||
Financial assets: | ||||||||||||||||||||
Cash and money market instruments | $ | 146,159 | $ | 146,159 | $ | — | $ | — | $ | 146,159 | ||||||||||
Investment securities (1) | 1,443,109 | — | 1,439,870 | — | 1,439,870 | |||||||||||||||
Other investment securities (2) | 9,229 | 8,809 | — | 420 | 9,229 | |||||||||||||||
Loans held for sale | 8,154 | — | 8,154 | — | 8,154 | |||||||||||||||
Mortgage IRLCs | 141 | — | 141 | — | 141 | |||||||||||||||
Impaired loans carried at fair value | 6,470 | — | — | 6,470 | 6,470 | |||||||||||||||
Other loans, net (3) | 5,260,757 | — | — | 5,204,775 | 5,204,775 | |||||||||||||||
Loans receivable, net | $ | 5,275,522 | $ | — | $ | 8,295 | $ | 5,211,245 | $ | 5,219,540 | ||||||||||
Financial liabilities: | ||||||||||||||||||||
Time deposits | 1,026,920 | — | 1,026,550 | — | 1,026,550 | |||||||||||||||
Other | 3,967 | 3,967 | — | 3,967 | ||||||||||||||||
Deposits (excluding demand deposits) | $ | 1,030,887 | $ | 3,967 | $ | 1,026,550 | $ | — | $ | 1,030,517 | ||||||||||
Short-term borrowings | $ | 216,139 | $ | — | $ | 216,139 | $ | — | $ | 216,139 | ||||||||||
Long-term debt | 400,000 | — | 398,668 | — | 398,668 | |||||||||||||||
Subordinated notes | 15,000 | — | 13,161 | — | 13,161 | |||||||||||||||
Derivative financial instruments: | ||||||||||||||||||||
Fair value swap | $ | 226 | $ | — | $ | — | $ | 226 | $ | 226 |
December 31, 2017 | ||||||||||||||||||||
Fair Value Measurements | ||||||||||||||||||||
(In thousands) | Carrying value | Level 1 | Level 2 | Level 3 | Total fair value | |||||||||||||||
Financial assets: | ||||||||||||||||||||
Cash and money market instruments | $ | 169,112 | $ | 169,112 | $ | — | $ | — | $ | 169,112 | ||||||||||
Investment securities (1) | 1,449,078 | — | 1,455,660 | — | 1,455,660 | |||||||||||||||
Other investment securities (2) | 1,935 | 1,518 | — | 417 | 1,935 | |||||||||||||||
Loans held for sale | 4,148 | — | 4,148 | — | 4,148 | |||||||||||||||
Mortgage IRLCs | 94 | — | 94 | — | 94 | |||||||||||||||
Impaired loans carried at fair value | 3,574 | — | — | 3,574 | 3,574 | |||||||||||||||
Other loans, net | 5,314,679 | — | — | 5,247,021 | 5,247,021 | |||||||||||||||
Loans receivable, net | $ | 5,322,495 | $ | — | $ | 4,242 | $ | 5,250,595 | $ | 5,254,837 | ||||||||||
Financial liabilities: | ||||||||||||||||||||
Time deposits | 1,033,476 | — | 1,035,093 | — | 1,035,093 | |||||||||||||||
Other | 1,269 | 1,269 | — | — | 1,269 | |||||||||||||||
Total deposits | $ | 1,034,745 | $ | 1,269 | $ | 1,035,093 | $ | — | $ | 1,036,362 | ||||||||||
Short-term borrowings | $ | 391,289 | $ | — | $ | 391,289 | $ | — | $ | 391,289 | ||||||||||
Long-term debt | 500,000 | — | 504,503 | — | 504,503 | |||||||||||||||
Subordinated notes | 15,000 | — | 13,370 | — | 13,370 | |||||||||||||||
Derivative financial instruments: | ||||||||||||||||||||
Fair value swap | $ | 226 | $ | — | $ | — | $ | 226 | $ | 226 |
(in thousands) | Changes in pension plan assets and benefit obligations | Change in unrealized losses on debt securities | Total | ||||||||||
Beginning balance at April 1, 2018 | $ | (26,701 | ) | $ | (25,940 | ) | $ | (52,641 | ) | ||||
Other comprehensive loss before reclassifications | — | (2,368 | ) | (2,368 | ) | ||||||||
Amounts reclassified from accumulated other comprehensive loss | — | — | — | ||||||||||
Activity for the period | — | (2,368 | ) | (2,368 | ) | ||||||||
Ending balance at June 30, 2018 | $ | (26,701 | ) | $ | (28,308 | ) | $ | (55,009 | ) | ||||
Beginning balance at April 1, 2017 | $ | (14,740 | ) | $ | (1,983 | ) | $ | (16,723 | ) | ||||
Other comprehensive income before reclassifications | — | 3,011 | 3,011 | ||||||||||
Amounts reclassified from accumulated other comprehensive loss | — | — | — | ||||||||||
Net current period other comprehensive income | — | 3,011 | 3,011 | ||||||||||
Ending balance at June 30, 2017 | $ | (14,740 | ) | $ | 1,028 | $ | (13,712 | ) |
(in thousands) | Changes in pension plan assets and benefit obligations | Change in unrealized losses on debt securities | Total | ||||||||||
Beginning balance at January 1, 2018 | $ | (23,526 | ) | $ | (2,928 | ) | $ | (26,454 | ) | ||||
Other comprehensive loss before reclassifications | — | (25,778 | ) | (25,778 | ) | ||||||||
Reclassification of disproportionate income tax effects | (3,175 | ) | (631 | ) | (3,806 | ) | |||||||
Cumulative effect of change in accounting principle for marketable equity securities, net of tax | — | (995 | ) | (995 | ) | ||||||||
Amounts reclassified from accumulated other comprehensive loss | — | 2,024 | 2,024 | ||||||||||
Activity for the period | (3,175 | ) | (25,380 | ) | (28,555 | ) | |||||||
Ending balance at June 30, 2018 | $ | (26,701 | ) | $ | (28,308 | ) | $ | (55,009 | ) | ||||
Beginning balance at January 1, 2017 | $ | (14,740 | ) | $ | (3,005 | ) | $ | (17,745 | ) | ||||
Other comprehensive income before reclassifications | — | 4,033 | 4,033 | ||||||||||
Amounts reclassified from accumulated other comprehensive loss | — | — | — | ||||||||||
Net current period other comprehensive income | — | 4,033 | 4,033 | ||||||||||
Ending balance at June 30, 2017 | $ | (14,740 | ) | $ | 1,028 | $ | (13,712 | ) |
(in thousands) | June 30, 2018 | December 31, 2017 | |||||
Affordable housing tax credit investments | $ | 45,967 | $ | 49,669 | |||
Unfunded commitments | 14,282 | 14,282 |
June 30, 2018 | ||||||||||||||||||||
(in thousands) | Remaining Contractual Maturity of the Agreements | |||||||||||||||||||
Overnight and Continuous | Up to 30 days | 30 - 90 days | Greater than 90 days | Total | ||||||||||||||||
U.S. government and agency securities | $ | 165,139 | $ | — | $ | — | $ | — | $ | 165,139 | ||||||||||
December 31, 2017 | ||||||||||||||||||||
(in thousands) | Remaining Contractual Maturity of the Agreements | |||||||||||||||||||
Overnight and Continuous | Up to 30 days | 30 - 90 days | Greater than 90 days | Total | ||||||||||||||||
U.S. government and agency securities | $ | 182,185 | $ | — | $ | — | $ | 1,104 | $ | 183,289 |
Three Months Ended June 30, 2018 | ||||||||||||||||||||
Revenue by Operating Segment (in thousands) | PNB | GFSC | SEPH | All Other | Total | |||||||||||||||
Income from fiduciary activities | ||||||||||||||||||||
Personal trust and agency accounts | $ | 2,263 | $ | — | $ | — | $ | — | $ | 2,263 | ||||||||||
Employee benefit and retirement-related accounts | 1,657 | — | — | — | 1,657 | |||||||||||||||
Investment management and investment advisory agency accounts | 2,339 | — | — | — | 2,339 | |||||||||||||||
Other | 407 | — | — | — | 407 | |||||||||||||||
Service charges on deposit accounts | ||||||||||||||||||||
Non-sufficient funds (NSF) fees | 1,848 | — | — | — | 1,848 | |||||||||||||||
Demand deposit account (DDA) charges | 813 | — | — | — | 813 | |||||||||||||||
Other | 165 | — | — | — | 165 | |||||||||||||||
Other service income (1) | ||||||||||||||||||||
Credit card | 556 | 7 | — | — | 563 | |||||||||||||||
HELOC | 118 | — | — | — | 118 | |||||||||||||||
Installment | 73 | — | — | — | 73 | |||||||||||||||
Real estate | 2,357 | — | — | — | 2,357 | |||||||||||||||
Commercial | 314 | — | 47 | — | 361 | |||||||||||||||
Checkcard fee income | 4,382 | — | — | — | 4,382 | |||||||||||||||
Bank owned life insurance income (2) | 940 | — | — | 91 | 1,031 | |||||||||||||||
ATM fees | 510 | — | — | — | 510 | |||||||||||||||
OREO valuation adjustments (2) | (71 | ) | — | (43 | ) | — | (114 | ) | ||||||||||||
Gain on sale of OREO, net | (179 | ) | — | 32 | — | (147 | ) | |||||||||||||
Net loss on sale of investment securities (2) | — | — | — | — | — | |||||||||||||||
Unrealized gain on equity securities (2) | 6 | — | — | 298 | 304 | |||||||||||||||
Other components of net periodic pension benefit income (2) | 1,652 | 19 | 34 | — | 1,705 | |||||||||||||||
Miscellaneous (3) | 1,920 | 16 | 1 | 670 | 2,607 | |||||||||||||||
Total other income | $ | 22,070 | $ | 42 | $ | 71 | $ | 1,059 | $ | 23,242 |
Three Months Ended June 30, 2017 (4) | ||||||||||||||||||||
Revenue by Operating Segment (in thousands) | PNB | GFSC | SEPH | All Other | Total | |||||||||||||||
Income from fiduciary activities | ||||||||||||||||||||
Personal trust and agency accounts | $ | 2,012 | $ | — | $ | — | $ | — | $ | 2,012 | ||||||||||
Employee benefit and retirement-related accounts | 1,517 | — | — | — | 1,517 | |||||||||||||||
Investment management and investment advisory agency accounts | 2,143 | — | — | — | 2,143 | |||||||||||||||
Other | 353 | — | — | — | 353 | |||||||||||||||
Service charges on deposit accounts | ||||||||||||||||||||
Non-sufficient funds (NSF) fees | 2,015 | — | — | — | 2,015 | |||||||||||||||
Demand deposit account (DDA) charges | 974 | — | — | — | 974 | |||||||||||||||
Other | 167 | — | — | — | 167 | |||||||||||||||
Other service income (1) | ||||||||||||||||||||
Credit card | 497 | (9 | ) | — | — | 488 | ||||||||||||||
HELOC | 131 | — | 3 | — | 134 | |||||||||||||||
Installment | 119 | — | — | — | 119 | |||||||||||||||
Real estate | 2,412 | — | — | — | 2,412 | |||||||||||||||
Commercial | 271 | — | 23 | — | 294 | |||||||||||||||
Checkcard fee income | 4,040 | — | — | — | 4,040 | |||||||||||||||
Bank owned life insurance income (2) | 1,014 | — | — | 100 | 1,114 | |||||||||||||||
ATM fees | 561 | — | — | — | 561 | |||||||||||||||
OREO valuation adjustments (2) | (272 | ) | — | — | — | (272 | ) | |||||||||||||
Gain on sale of OREO, net | 48 | — | 5 | — | 53 | |||||||||||||||
Other components of net periodic pension benefit income (2) | 1,403 | 16 | 29 | — | 1,448 | |||||||||||||||
Miscellaneous (3) | 1,177 | 1 | (52 | ) | 1 | 1,127 | ||||||||||||||
Total other income | $ | 20,582 | $ | 8 | $ | 8 | $ | 101 | $ | 20,699 |
Six Months Ended June 30, 2018 | ||||||||||||||||||||
Revenue by Operating Segment (in thousands) | PNB | GFSC | SEPH | All Other | Total | |||||||||||||||
Income from fiduciary activities | ||||||||||||||||||||
Personal trust and agency accounts | $ | 4,389 | $ | — | $ | — | $ | — | $ | 4,389 | ||||||||||
Employee benefit and retirement-related accounts | 3,300 | — | — | — | 3,300 | |||||||||||||||
Investment management and investment advisory agency accounts | 4,583 | — | — | — | 4,583 | |||||||||||||||
Other | 789 | — | — | — | 789 | |||||||||||||||
Service charges on deposit accounts | ||||||||||||||||||||
Non-sufficient funds (NSF) fees | 3,682 | — | — | — | 3,682 | |||||||||||||||
Demand deposit account (DDA) charges | 1,739 | — | — | — | 1,739 | |||||||||||||||
Other | 327 | — | — | — | 327 | |||||||||||||||
Other service income (1) | ||||||||||||||||||||
Credit card | 1,060 | 14 | — | — | 1,074 | |||||||||||||||
HELOC | 217 | — | — | — | 217 | |||||||||||||||
Installment | 137 | — | — | — | 137 | |||||||||||||||
Real estate | 4,603 | — | — | — | 4,603 | |||||||||||||||
Commercial | 556 | — | 1,057 | — | 1,613 | |||||||||||||||
Checkcard fee income | 8,384 | — | — | — | 8,384 | |||||||||||||||
Bank owned life insurance income (2) | 1,862 | — | — | 178 | 2,040 | |||||||||||||||
ATM fees | 1,034 | — | — | — | 1,034 | |||||||||||||||
OREO valuation adjustments (2) | (101 | ) | — | (220 | ) | — | (321 | ) | ||||||||||||
Gain on sale of OREO, net | 1,406 | — | 2,768 | — | 4,174 | |||||||||||||||
Net loss on sale of investment securities (2) | (2,271 | ) | — | — | — | (2,271 | ) | |||||||||||||
Unrealized gain on equity securities (2) | 33 | — | — | 3,760 | 3,793 | |||||||||||||||
Other components of net periodic pension benefit income (2) | 3,304 | 38 | 68 | — | 3,410 | |||||||||||||||
Miscellaneous (3) | 2,952 | 20 | (15 | ) | 492 | 3,449 | ||||||||||||||
Total other income | $ | 41,985 | $ | 72 | $ | 3,658 | $ | 4,430 | $ | 50,145 |
Six Months Ended June 30, 2017 (4) | ||||||||||||||||||||
Revenue by Operating Segment (in thousands) | PNB | GFSC | SEPH | All Other | Total | |||||||||||||||
Income from fiduciary activities | ||||||||||||||||||||
Personal trust and agency accounts | $ | 3,798 | $ | — | $ | — | $ | — | $ | 3,798 | ||||||||||
Employee benefit and retirement-related accounts | 2,967 | — | — | — | 2,967 | |||||||||||||||
Investment management and investment advisory agency accounts | 4,111 | — | — | — | 4,111 | |||||||||||||||
Other | 663 | — | — | — | 663 | |||||||||||||||
Service charges on deposit accounts | ||||||||||||||||||||
Non-sufficient funds (NSF) fees | 4,000 | — | — | — | 4,000 | |||||||||||||||
Demand deposit account (DDA) charges | 1,959 | — | — | — | 1,959 | |||||||||||||||
Other | 336 | — | — | — | 336 | |||||||||||||||
Other service income (1) | ||||||||||||||||||||
Credit card | 917 | (9 | ) | — | — | 908 | ||||||||||||||
HELOC | 222 | — | 3 | — | 225 | |||||||||||||||
Installment | 277 | — | — | — | 277 | |||||||||||||||
Real estate | 4,224 | — | — | — | 4,224 | |||||||||||||||
Commercial | 594 | — | 23 | — | 617 | |||||||||||||||
Checkcard fee income | 7,801 | — | — | — | 7,801 | |||||||||||||||
Bank owned life insurance income (2) | 2,021 | — | — | 196 | 2,217 | |||||||||||||||
ATM fees | 1,103 | — | — | — | 1,103 | |||||||||||||||
OREO valuation adjustments (2) | (345 | ) | — | — | — | (345 | ) | |||||||||||||
Gain on sale of OREO, net | 148 | — | 5 | — | 153 | |||||||||||||||
Other components of net periodic pension benefit income (2) | 2,806 | 32 | 58 | — | 2,896 | |||||||||||||||
Miscellaneous (3) | 2,094 | 1 | (52 | ) | (299 | ) | 1,744 | |||||||||||||
Total other income | $ | 39,696 | $ | 24 | $ | 37 | $ | (103 | ) | $ | 39,654 |
• | the interest rate used to determine the present value of liabilities (discount rate); |
• | certain employee-related factors, such as turnover, retirement age and mortality; |
• | the expected return on assets in our funded plan; and |
• | for pension expense, the rate of salary increases where benefits are based on earnings. |
Net income (loss) by segment | |||||||||||||||||||||||
(In thousands) | Q2 2018 | Q1 2018 | Six months YTD 2018 | Six months YTD 2017 | 2017 | 2016 | |||||||||||||||||
PNB | $ | 28,797 | $ | 26,745 | $ | 55,542 | $ | 41,649 | $ | 87,315 | $ | 84,451 | |||||||||||
GFSC | 295 | 57 | 352 | 384 | 260 | (307 | ) | ||||||||||||||||
Parent Company | (973 | ) | 1,465 | 492 | (2,145 | ) | (2,457 | ) | (4,557 | ) | |||||||||||||
Ongoing operations | $ | 28,119 | $ | 28,267 | $ | 56,386 | $ | 39,888 | $ | 85,118 | $ | 79,587 | |||||||||||
SEPH | 122 | 2,856 | 2,978 | (589 | ) | (876 | ) | 6,548 | |||||||||||||||
Total Park | $ | 28,241 | $ | 31,123 | $ | 59,364 | $ | 39,299 | $ | 84,242 | $ | 86,135 |
(In thousands) | Q2 2018 | Q1 2018 | Six months YTD 2018 | Six months YTD 2017 | 2017 | 2016 | ||||||||||||
Net interest income | $ | 62,683 | $ | 61,441 | $ | 124,124 | $ | 115,302 | $ | 235,243 | $ | 227,576 | ||||||
Provision for (recovery of) loan losses | 1,623 | (67 | ) | 1,556 | 5,294 | 9,898 | 2,611 | |||||||||||
Other income | 22,070 | 19,915 | 41,985 | 39,696 | 82,742 | 79,959 | ||||||||||||
Other expense | 48,169 | 49,001 | 97,170 | 90,486 | 185,891 | 182,718 | ||||||||||||
Income before income taxes | $ | 34,961 | $ | 32,422 | $ | 67,383 | $ | 59,218 | $ | 122,196 | $ | 122,206 | ||||||
Federal income tax expense | 6,164 | 5,677 | 11,841 | 17,569 | 34,881 | 37,755 | ||||||||||||
Net income | $ | 28,797 | $ | 26,745 | $ | 55,542 | $ | 41,649 | $ | 87,315 | $ | 84,451 |
2Q YTD 2018 | 2Q YTD 2017 | 2017 | |||||||||||||||||||||||||||
(In thousands) | PNB as reported | Adjustments (1) | PNB as adjusted | PNB as reported | Adjustments (1) | PNB as adjusted | PNB as reported | Adjustments (1) | PNB as adjusted | ||||||||||||||||||||
Net interest income | $ | 124,124 | $ | 817 | $ | 123,307 | $ | 115,302 | $ | — | $ | 115,302 | $ | 235,243 | $ | 233 | $ | 235,010 | |||||||||||
Provision for (recovery of) loan losses | 1,556 | (5 | ) | 1,561 | 5,294 | (5 | ) | 5,299 | 9,898 | (5 | ) | 9,903 | |||||||||||||||||
Other income | 41,985 | 1,431 | 40,554 | 39,696 | 24 | 39,672 | 82,742 | 244 | 82,498 | ||||||||||||||||||||
Other expense | 97,170 | 113 | 97,057 | 90,486 | 222 | 90,264 | 185,891 | 492 | 185,399 | ||||||||||||||||||||
Income (loss) before income taxes | $ | 67,383 | $ | 2,140 | $ | 65,243 | $ | 59,218 | $ | (193 | ) | $ | 59,411 | $ | 122,196 | $ | (10 | ) | $ | 122,206 | |||||||||
Federal income tax expense (benefit) | 11,841 | 376 | 11,465 | 17,569 | (57 | ) | 17,626 | 34,881 | (3 | ) | 34,884 | ||||||||||||||||||
Net income (loss) | $ | 55,542 | $ | 1,764 | $ | 53,778 | $ | 41,649 | $ | (136 | ) | $ | 41,785 | $ | 87,315 | $ | (7 | ) | $ | 87,322 |
(In thousands) | June 30, 2018 | March 31, 2018 | December 31, 2017 | June 30, 2017 | % change from 12/31/17 | % change from 3/31/18 | % change from 06/30/17 | ||||||||||||
Loans | $ | 5,305,560 | $ | 5,274,340 | $ | 5,339,255 | $ | 5,329,172 | (0.63 | )% | 0.59 | % | (0.44 | )% | |||||
Allowance for loan losses | 47,110 | 46,519 | 47,607 | 51,699 | (1.04 | )% | 1.27 | % | (8.88 | )% | |||||||||
Net loans | 5,258,450 | 5,227,821 | 5,291,648 | 5,277,473 | (0.63 | )% | 0.59 | % | (0.36 | )% | |||||||||
Investment securities | 1,501,991 | 1,453,407 | 1,507,926 | 1,573,092 | (0.39 | )% | 3.34 | % | (4.52 | )% | |||||||||
Total assets | 7,404,498 | 7,455,518 | 7,467,851 | 7,754,898 | (0.85 | )% | (0.68 | )% | (4.52 | )% | |||||||||
Total deposits | 6,126,119 | 6,177,238 | 5,896,676 | 6,037,148 | 3.89 | % | (0.83 | )% | 1.47 | % | |||||||||
Average assets (1) | 7,396,316 | 7,392,786 | 7,664,725 | 7,571,295 | (3.50 | )% | 0.05 | % | (2.31 | )% | |||||||||
Efficiency ratio | 58.01 | % | 59.72 | % | 57.56 | % | 57.54 | % | 0.78 | % | (2.86 | )% | 0.82 | % | |||||
Return on average assets (2) | 1.51 | % | 1.47 | % | 1.14 | % | 1.11 | % | 32.46 | % | 2.72 | % | 36.04 | % |
(In thousands) | Q2 2018 | Q1 2018 | Six months YTD 2018 | Six months YTD 2017 | 2017 | 2016 | ||||||||||||
Net interest income | $ | 1,261 | $ | 1,305 | $ | 2,566 | $ | 2,969 | $ | 5,839 | $ | 5,874 | ||||||
Provision for loan losses | 87 | 503 | 590 | 810 | 1,917 | 1,887 | ||||||||||||
Other income | 42 | 30 | 72 | 24 | 103 | 57 | ||||||||||||
Other expense | 842 | 760 | 1,602 | 1,593 | 3,099 | 4,515 | ||||||||||||
Income (loss) before income taxes | $ | 374 | $ | 72 | $ | 446 | $ | 590 | $ | 926 | $ | (471 | ) | |||||
Federal income tax expense (benefit) | 79 | 15 | 94 | 206 | 666 | (164 | ) | |||||||||||
Net income (loss) | $ | 295 | $ | 57 | $ | 352 | $ | 384 | $ | 260 | $ | (307 | ) |
(In thousands) | June 30, 2018 | December 31, 2017 | June 30, 2017 | % change from 12/31/17 | % change from 6/30/17 | |||||||||
Loans | $ | 30,612 | $ | 33,385 | $ | 34,179 | (8.31 | )% | (10.44 | )% | ||||
Allowance for loan losses | 2,342 | 2,382 | 2,123 | (1.68 | )% | 10.32 | % | |||||||
Net loans | 28,270 | 31,003 | 32,056 | (8.82 | )% | (11.81 | )% | |||||||
Total assets | 29,232 | 32,077 | 33,860 | (8.87 | )% | (13.67 | )% | |||||||
Average assets (1) | 30,656 | 33,509 | 33,691 | (8.51 | )% | (9.01 | )% | |||||||
Return on average assets (2) | 2.32 | % | 0.78 | % | 2.29 | % | 197.44 | % | 1.31 | % |
(In thousands) | Q2 2018 | Q1 2018 | Six months YTD 2018 | Six months YTD 2017 | 2017 | 2016 | ||||||||||||
Net interest income (expense) | $ | 182 | $ | 227 | $ | 409 | $ | (24 | ) | $ | 588 | $ | (138 | ) | ||||
Provision for loan losses | — | — | — | — | — | — | ||||||||||||
Other income (loss) | 1,059 | 3,371 | 4,430 | (103 | ) | 3,065 | 955 | |||||||||||
Other expense | 2,666 | 2,522 | 5,188 | 4,313 | 8,805 | 9,731 | ||||||||||||
Net (loss) income before income tax benefit | $ | (1,425 | ) | $ | 1,076 | $ | (349 | ) | $ | (4,440 | ) | $ | (5,152 | ) | $ | (8,914 | ) | |
Federal income tax benefit | (452 | ) | (389 | ) | (841 | ) | (2,295 | ) | (2,695 | ) | (4,357 | ) | ||||||
Net (loss) income | $ | (973 | ) | $ | 1,465 | $ | 492 | $ | (2,145 | ) | $ | (2,457 | ) | $ | (4,557 | ) |
(In thousands) | Q2 2018 | Q1 2018 | Six months YTD 2018 | Six months YTD 2017 | 2017 | 2016 | ||||||||||||
Net interest income | $ | 616 | $ | 1,877 | $ | 2,493 | $ | 483 | $ | 2,089 | $ | 4,774 | ||||||
Recovery of loan losses | (324 | ) | (176 | ) | (500 | ) | (647 | ) | (3,258 | ) | (9,599 | ) | ||||||
Other income | 71 | 3,587 | 3,658 | 37 | 519 | 3,068 | ||||||||||||
Other expense | 857 | 2,025 | 2,882 | 2,072 | 5,367 | 7,367 | ||||||||||||
Income (loss) before income taxes | $ | 154 | $ | 3,615 | $ | 3,769 | $ | (905 | ) | $ | 499 | $ | 10,074 | |||||
Federal income tax expense (benefit) | 32 | 759 | 791 | (316 | ) | 1,375 | 3,526 | |||||||||||
Net income (loss) | $ | 122 | $ | 2,856 | $ | 2,978 | $ | (589 | ) | $ | (876 | ) | $ | 6,548 |
(In thousands) | Q2 2018 | Q1 2018 | Six months YTD 2018 | Six months YTD 2017 | 2017 | 2016 | ||||||||||||
Net interest income | $ | 64,742 | $ | 64,850 | $ | 129,592 | $ | 118,730 | $ | 243,759 | $ | 238,086 | ||||||
Provision for (recovery of) loan losses | 1,386 | 260 | 1,646 | 5,457 | 8,557 | (5,101 | ) | |||||||||||
Other income | 23,242 | 26,903 | 50,145 | 39,654 | 86,429 | 84,039 | ||||||||||||
Other expense | 52,534 | 54,308 | 106,842 | 98,464 | 203,162 | 204,331 | ||||||||||||
Income before income taxes | $ | 34,064 | $ | 37,185 | $ | 71,249 | $ | 54,463 | $ | 118,469 | $ | 122,895 | ||||||
Federal income taxes | 5,823 | 6,062 | 11,885 | 15,164 | 34,227 | 36,760 | ||||||||||||
Net income | $ | 28,241 | $ | 31,123 | $ | 59,364 | $ | 39,299 | $ | 84,242 | $ | 86,135 |
Three months ended June 30, 2018 | Three months ended June 30, 2017 | |||||||||||||||||
(Dollars in thousands) | Average balance | Interest | Tax equivalent yield/cost | Average balance | Interest | Tax equivalent yield/cost | ||||||||||||
Loans (1) | $ | 5,289,056 | $ | 64,623 | 4.90 | % | $ | 5,327,114 | $ | 61,512 | 4.63 | % | ||||||
Taxable investments | 1,241,104 | 7,746 | 2.50 | % | 1,325,807 | 6,892 | 2.09 | % | ||||||||||
Tax-exempt investments (2) | 300,383 | 2,756 | 3.68 | % | 226,579 | 2,559 | 4.53 | % | ||||||||||
Money market instruments | 54,551 | 271 | 1.99 | % | 265,791 | 698 | 1.05 | % | ||||||||||
Interest earning assets | $ | 6,885,094 | $ | 75,396 | 4.39 | % | $ | 7,145,291 | $ | 71,661 | 4.02 | % | ||||||
Interest bearing deposits | $ | 4,392,733 | 6,993 | 0.64 | % | $ | 4,370,710 | 4,748 | 0.44 | % | ||||||||
Short-term borrowings | 217,997 | 420 | 0.77 | % | 202,352 | 184 | 0.37 | % | ||||||||||
Long-term debt | 427,912 | 2,536 | 2.38 | % | 801,153 | 5,766 | 2.89 | % | ||||||||||
Interest bearing liabilities | $ | 5,038,642 | $ | 9,949 | 0.79 | % | $ | 5,374,215 | $ | 10,698 | 0.80 | % | ||||||
Excess interest earning assets | $ | 1,846,452 | $ | 1,771,076 | ||||||||||||||
Tax equivalent net interest income | $ | 65,447 | $ | 60,963 | ||||||||||||||
Net interest spread | 3.60 | % | 3.22 | % | ||||||||||||||
Net interest margin | 3.81 | % | 3.42 | % |
Three months ended June 30, 2018 | Three months ended June 30, 2017 | |||||||||||||
(Dollars in thousands) | Average balance | Tax equivalent yield | Average balance | Tax equivalent yield | ||||||||||
Home equity | $ | 191,089 | 4.98 | % | $ | 210,479 | 4.39 | % | ||||||
Installment loans | 1,287,018 | 5.01 | % | 1,232,396 | 4.94 | % | ||||||||
Real estate loans | 1,147,684 | 4.05 | % | 1,200,915 | 3.83 | % | ||||||||
Commercial loans (1)(2) | 2,658,955 | 5.19 | % | 2,678,602 | 4.85 | % | ||||||||
Other | 4,310 | 13.41 | % | 4,722 | 12.96 | % | ||||||||
Total loans and leases before allowance (2) | $ | 5,289,056 | 4.90 | % | $ | 5,327,114 | 4.63 | % |
Three months ended June 30, 2018 | Three months ended June 30, 2017 | |||||||||||||
(Dollars in thousands) | Average balance | Cost of funds | Average balance | Cost of funds | ||||||||||
Transaction accounts | $ | 1,361,792 | 0.45 | % | $ | 1,308,516 | 0.25 | % | ||||||
Savings deposits and clubs | 2,001,676 | 0.51 | % | 1,935,474 | 0.31 | % | ||||||||
Time deposits | 1,029,265 | 1.12 | % | 1,126,720 | 0.87 | % | ||||||||
Total interest bearing deposits | $ | 4,392,733 | 0.64 | % | $ | 4,370,710 | 0.44 | % |
Six months ended June 30, 2018 | Six months ended June 30, 2017 | |||||||||||||||||
(Dollars in thousands) | Average balance | Interest | Tax equivalent yield/cost | Average balance | Interest | Tax equivalent yield/cost | ||||||||||||
Loans (1) | $ | 5,295,814 | $ | 129,148 | 4.92 | % | $ | 5,302,961 | $ | 121,697 | 4.63 | % | ||||||
Taxable investments | 1,206,022 | 14,513 | 2.43 | % | 1,347,896 | 14,030 | 2.10 | % | ||||||||||
Tax-exempt investments (2) | 300,256 | 5,508 | 3.70 | % | 213,155 | 4,805 | 4.55 | % | ||||||||||
Money market instruments | 73,437 | 642 | 1.76 | % | 192,800 | 947 | 0.99 | % | ||||||||||
Interest earning assets | $ | 6,875,529 | $ | 149,811 | 4.39 | % | $ | 7,056,812 | $ | 141,479 | 4.04 | % | ||||||
Interest bearing deposits | $ | 4,378,091 | 12,834 | 0.59 | % | $ | 4,290,900 | 8,523 | 0.40 | % | ||||||||
Short-term borrowings | 248,793 | 995 | 0.81 | % | 241,201 | 419 | 0.35 | % | ||||||||||
Long-term debt | 429,503 | 4,984 | 2.34 | % | 777,804 | 11,559 | 3.00 | % | ||||||||||
Interest bearing liabilities | $ | 5,056,387 | $ | 18,813 | 0.75 | % | $ | 5,309,905 | $ | 20,501 | 0.78 | % | ||||||
Excess interest earning assets | $ | 1,819,142 | $ | 1,746,907 | ||||||||||||||
Tax equivalent net interest income | $ | 130,998 | $ | 120,978 | ||||||||||||||
Net interest spread | 3.64 | % | 3.26 | % | ||||||||||||||
Net interest margin | 3.84 | % | 3.46 | % |
Six months ended June 30, 2018 | Six months ended June 30, 2017 | |||||||||||||
(Dollars in thousands) | Average balance | Tax equivalent yield | Average balance | Tax equivalent yield | ||||||||||
Home equity | $ | 194,938 | 4.93 | % | $ | 211,618 | 4.29 | % | ||||||
Installment loans | 1,280,442 | 4.97 | % | 1,208,701 | 4.97 | % | ||||||||
Real estate loans | 1,152,043 | 4.02 | % | 1,204,936 | 3.83 | % | ||||||||
Commercial loans (1) (2) | 2,663,876 | 5.26 | % | 2,672,223 | 4.85 | % | ||||||||
Other | 4,515 | 13.09 | % | 5,483 | 11.35 | % | ||||||||
Total loans and leases before allowance (2) | $ | 5,295,814 | 4.92 | % | $ | 5,302,961 | 4.63 | % |
Loans (1) (3) | Investments (2) | Money Market Instruments | Total(3) | |||||||||
2015 - year | 4.66 | % | 2.46 | % | 0.26 | % | 3.95 | % | ||||
2016 - year | 4.74 | % | 2.30 | % | 0.51 | % | 4.08 | % | ||||
2017 - year | 4.69 | % | 2.47 | % | 1.18 | % | 4.08 | % | ||||
2018 - first six months | 4.92 | % | 2.68 | % | 1.76 | % | 4.39 | % |
Six months ended June 30, 2018 | Six months ended June 30, 2017 | |||||||||||||
(Dollars in thousands) | Average balance | Cost of funds | Average balance | Cost of funds | ||||||||||
Transaction accounts | $ | 1,339,507 | 0.40 | % | $ | 1,280,645 | 0.21 | % | ||||||
Savings deposits and clubs | 2,009,171 | 0.48 | % | 1,897,580 | 0.27 | % | ||||||||
Time deposits | 1,029,413 | 1.07 | % | 1,112,675 | 0.84 | % | ||||||||
Total interest bearing deposits | $ | 4,378,091 | 0.59 | % | $ | 4,290,900 | 0.40 | % |
Interest bearing deposits | Short-term borrowings | Long-term debt | Total | |||||||||
2015 - year | 0.30 | % | 0.18 | % | 3.10 | % | 0.72 | % | ||||
2016 - year | 0.32 | % | 0.19 | % | 3.13 | % | 0.74 | % | ||||
2017 - year | 0.44 | % | 0.43 | % | 2.86 | % | 0.80 | % | ||||
2018 - first six months | 0.59 | % | 0.81 | % | 2.34 | % | 0.75 | % |
Three Months Ended June 30, | Six Months Ended June 30, | ||||||||||||
(Dollars in thousands) | 2018 | 2017 | 2018 | 2017 | |||||||||
ALLL, beginning balance | $ | 48,969 | $ | 49,922 | $ | 49,988 | $ | 50,624 | |||||
Net charge-offs (recoveries) : | |||||||||||||
Park's Ohio-based operations | 1,227 | 1,047 | 2,682 | 2,906 | |||||||||
SEPH | (324 | ) | (366 | ) | (500 | ) | (647 | ) | |||||
Park | 903 | 681 | 2,182 | 2,259 | |||||||||
Provision for (recovery of) loan losses: | |||||||||||||
Park's Ohio-based operations | 1,710 | 4,947 | 2,146 | 6,104 | |||||||||
SEPH | (324 | ) | (366 | ) | (500 | ) | (647 | ) | |||||
Park | 1,386 | 4,581 | 1,646 | 5,457 | |||||||||
ALLL, ending balance | $ | 49,452 | $ | 53,822 | $ | 49,452 | $ | 53,822 | |||||
Annualized ratio of net charge-offs (recoveries) to average loans: | |||||||||||||
Park's Ohio-based operations | 0.09 | % | 0.08 | % | 0.10 | % | 0.11 | % | |||||
SEPH | N.M. | (12.50 | )% | (29.55 | )% | (10.85 | )% | ||||||
Park | 0.07 | % | 0.05 | % | 0.08 | % | 0.09 | % |
Park Ohio-based operations - Allowance for Loan Losses | ||||||||||||
(In thousands) | June 30, 2018 | December 31, 2017 | June 30, 2017 | |||||||||
Total allowance for loan losses | $ | 49,452 | $ | 49,988 | $ | 53,822 | ||||||
Specific reserves | 1,396 | 684 | 4,145 | |||||||||
General reserves | $ | 48,056 | $ | 49,304 | $ | 49,677 | ||||||
Total loans | $ | 5,323,164 | $ | 5,361,593 | $ | 5,354,148 | ||||||
Impaired commercial loans | 60,070 | 46,242 | 62,405 | |||||||||
Non-impaired loans | $ | 5,263,094 | $ | 5,315,351 | $ | 5,291,743 | ||||||
Total allowance for loan losses to total loans ratio | 0.93 | % | 0.93 | % | 1.01 | % | ||||||
General reserves as a % of non-impaired loans | 0.91 | % | 0.93 | % | 0.94 | % |
(In thousands) | June 30, 2018 | December 31, 2017 | June 30, 2017 | |||||||||
Nonaccrual loans | $ | 81,124 | $ | 72,056 | $ | 90,378 | ||||||
Accruing TDRs | 16,306 | 20,111 | 18,631 | |||||||||
Loans past due 90 days or more | 1,437 | 1,792 | 1,895 | |||||||||
Total nonperforming loans | $ | 98,867 | $ | 93,959 | $ | 110,904 | ||||||
OREO – PNB | 3,280 | 6,524 | 7,108 | |||||||||
OREO – SEPH | 2,449 | 7,666 | 7,773 | |||||||||
Other nonperforming assets - PNB | — | 4,849 | — | |||||||||
Total nonperforming assets | $ | 104,596 | $ | 112,998 | $ | 125,785 | ||||||
Percentage of nonaccrual loans to total loans | 1.52 | % | 1.34 | % | 1.68 | % | ||||||
Percentage of nonperforming loans to total loans | 1.86 | % | 1.75 | % | 2.07 | % | ||||||
Percentage of nonperforming assets to total loans | 1.96 | % | 2.10 | % | 2.34 | % | ||||||
Percentage of nonperforming assets to total assets | 1.40 | % | 1.50 | % | 1.61 | % |
(In thousands) | June 30, 2018 | December 31, 2017 | June 30, 2017 | |||||||||
Nonaccrual loans | $ | 79,489 | $ | 61,753 | $ | 79,688 | ||||||
Accruing TDRs | 16,306 | 20,111 | 18,631 | |||||||||
Loans past due 90 days or more | 1,437 | 1,792 | 1,895 | |||||||||
Total nonperforming loans | $ | 97,232 | $ | 83,656 | $ | 100,214 | ||||||
OREO – PNB | 3,280 | 6,524 | 7,108 | |||||||||
Other nonperforming assets - PNB | — | 4,849 | — | |||||||||
Total nonperforming assets | $ | 100,512 | $ | 95,029 | $ | 107,322 | ||||||
Percentage of nonaccrual loans to total loans | 1.49 | % | 1.15 | % | 1.49 | % | ||||||
Percentage of nonperforming loans to total loans | 1.83 | % | 1.56 | % | 1.87 | % | ||||||
Percentage of nonperforming assets to total loans | 1.89 | % | 1.77 | % | 2.00 | % | ||||||
Percentage of nonperforming assets to total assets | 1.36 | % | 1.27 | % | 1.38 | % |
(In thousands) | June 30, 2018 | December 31, 2017 | June 30, 2017 | |||||||||
Nonaccrual loans | $ | 1,635 | $ | 10,303 | $ | 10,690 | ||||||
Accruing TDRs | — | — | — | |||||||||
Loans past due 90 days or more | — | — | — | |||||||||
Total nonperforming loans | $ | 1,635 | $ | 10,303 | $ | 10,690 | ||||||
OREO – SEPH | 2,449 | 7,666 | 7,773 | |||||||||
Total nonperforming assets | $ | 4,084 | $ | 17,969 | $ | 18,463 |
• | Historical Loss Factor: Management updated the historical loss calculation during the fourth quarter of 2017, incorporating net charge-offs plus changes in specific reserves through December 31, 2017. With the addition of 2017 historical losses, management extended the historical loss period to 96 months from 84 months. The 96-month historical loss period captures all annual periods subsequent to June 2009, the end of the most recent recession, thus encompassing the full economic cycle to date. |
• | Loss Emergence Period Factor: At least annually, management calculates the loss emergence period for each commercial loan segment. This loss emergence period is calculated based upon the average period of time it takes from the probable occurrence of a loss event to the credit being moved to nonaccrual. If the loss emergence period for any commercial loan segment is greater than one year, management applies additional general reserves to all performing loans within that segment of the commercial loan portfolio. The loss emergence period was last updated in the fourth quarter of 2017. |
• | Loss Migration Factor: Park’s commercial loans are individually risk graded. If loan downgrades occur, the probability of default increases, and accordingly, management allocates a higher percentage reserve to those accruing commercial loans graded special mention and substandard. Annually, management calculates a loss migration factor for each commercial loan segment for special mention and substandard credits based on a review of losses over the period of time a loan takes to migrate from pass-rated to impaired. The loss migration factor was last updated in the fourth quarter of 2017. |
• | Environmental Loss Factor: Management has identified certain macroeconomic factors that trend in accordance with losses in Park’s commercial loan portfolio. These macroeconomic factors are reviewed quarterly and the adjustments made to the environmental loss factor impacting each segment in the performing commercial loan portfolio correlate to changes in the macroeconomic environment. There was no change to the environmental loss factor during the second quarter of 2018. |
Three months ended June 30, | Six months ended June 30, | |||||||||||||||||||||||
(In thousands) | 2018 | 2017 | Change | 2018 | 2017 | Change | ||||||||||||||||||
Income from fiduciary activities | $ | 6,666 | $ | 6,025 | $ | 641 | $ | 13,061 | $ | 11,539 | $ | 1,522 | ||||||||||||
Service charges on deposit accounts | 2,826 | 3,156 | (330 | ) | 5,748 | 6,295 | (547 | ) | ||||||||||||||||
Other service income | 3,472 | 3,447 | 25 | 7,644 | 6,251 | 1,393 | ||||||||||||||||||
Check card fee income | 4,382 | 4,040 | 342 | 8,384 | 7,801 | 583 | ||||||||||||||||||
Bank owned life insurance income | 1,031 | 1,114 | (83 | ) | 2,040 | 2,217 | (177 | ) | ||||||||||||||||
ATM fees | 510 | 561 | (51 | ) | 1,034 | 1,103 | (69 | ) | ||||||||||||||||
OREO valuation adjustments | (114 | ) | (272 | ) | 158 | (321 | ) | (345 | ) | 24 | ||||||||||||||
(Loss) gain on sale of OREO, net | (147 | ) | 53 | (200 | ) | 4,174 | 153 | 4,021 | ||||||||||||||||
Net loss on sale of investment securities | — | — | — | (2,271 | ) | — | (2,271 | ) | ||||||||||||||||
Unrealized gain on equity securities | 304 | — | 304 | 3,793 | — | 3,793 | ||||||||||||||||||
Other components of net periodic pension benefit income | 1,705 | 1,448 | 257 | 3,410 | 2,896 | 514 | ||||||||||||||||||
Miscellaneous | 2,607 | 1,127 | 1,480 | 3,449 | 1,744 | 1,705 | ||||||||||||||||||
Total other income | $ | 23,242 | $ | 20,699 | $ | 2,543 | $ | 50,145 | $ | 39,654 | $ | 10,491 |
Change from 2017 to 2018 for the three months ended June 30, | Change from 2017 to 2018 for the six months ended June 30, | |||||||||||||||||||||||
(In thousands) | Ohio-based operations | SEPH | Total | Ohio-based operations | SEPH | Total | ||||||||||||||||||
Income from fiduciary activities | $ | 641 | $ | — | $ | 641 | $ | 1,522 | $ | — | $ | 1,522 | ||||||||||||
Service charges on deposit accounts | (330 | ) | — | (330 | ) | (547 | ) | — | (547 | ) | ||||||||||||||
Other service income | 4 | 21 | 25 | 361 | 1,032 | 1,393 | ||||||||||||||||||
Check card fee income | 342 | — | 342 | 583 | — | 583 | ||||||||||||||||||
Bank owned life insurance income | (83 | ) | — | (83 | ) | (177 | ) | — | (177 | ) | ||||||||||||||
ATM fees | (51 | ) | — | (51 | ) | (69 | ) | — | (69 | ) | ||||||||||||||
OREO valuation adjustments | 200 | (42 | ) | 158 | 243 | (219 | ) | 24 | ||||||||||||||||
(Loss) gain on sale of OREO, net | (227 | ) | 27 | (200 | ) | 1,257 | 2,764 | 4,021 | ||||||||||||||||
Net loss on sale of investment securities | — | — | — | (2,271 | ) | — | (2,271 | ) | ||||||||||||||||
Unrealized gain on equity securities | 304 | — | 304 | 3,793 | — | 3,793 | ||||||||||||||||||
Other components of net periodic pension benefit income | 252 | 5 | 257 | 504 | 10 | 514 | ||||||||||||||||||
Miscellaneous | 1,429 | 51 | 1,480 | 1,670 | 35 | 1,705 | ||||||||||||||||||
Total other income | $ | 2,481 | $ | 62 | $ | 2,543 | $ | 6,869 | $ | 3,622 | $ | 10,491 |
Three months ended June 30, | Six months ended June 30, | |||||||||||||||||||||||
(In thousands) | 2018 | 2017 | Change | 2018 | 2017 | Change | ||||||||||||||||||
Salaries | $ | 24,103 | $ | 23,001 | $ | 1,102 | $ | 49,423 | $ | 45,718 | $ | 3,705 | ||||||||||||
Employee benefits | 7,630 | 6,206 | 1,424 | 14,659 | 12,674 | 1,985 | ||||||||||||||||||
Occupancy expense | 2,570 | 2,565 | 5 | 5,506 | 5,200 | 306 | ||||||||||||||||||
Furniture and equipment expense | 4,013 | 3,640 | 373 | 8,162 | 7,258 | 904 | ||||||||||||||||||
Data processing fees | 1,902 | 1,676 | 226 | 3,675 | 3,641 | 34 | ||||||||||||||||||
Professional fees and services | 6,123 | 6,018 | 105 | 12,313 | 10,847 | 1,466 | ||||||||||||||||||
Marketing | 1,185 | 1,084 | 101 | 2,403 | 2,140 | 263 | ||||||||||||||||||
Insurance | 1,196 | 1,517 | (321 | ) | 2,624 | 3,087 | (463 | ) | ||||||||||||||||
Communication | 1,189 | 1,155 | 34 | 2,439 | 2,488 | (49 | ) | |||||||||||||||||
State tax expense | 958 | 943 | 15 | 2,063 | 2,006 | 57 | ||||||||||||||||||
Miscellaneous | 1,665 | 1,749 | (84 | ) | 3,575 | 3,405 | 170 | |||||||||||||||||
Total other expense | $ | 52,534 | $ | 49,554 | $ | 2,980 | $ | 106,842 | $ | 98,464 | $ | 8,378 |
Change from 2017 to 2018 for the three months ended June 30, | Change from 2017 to 2018 for the six months ended June 30, | |||||||||||||||||||||||
(In thousands) | Ohio based operations | SEPH | Total | Ohio based operations | SEPH | Total | ||||||||||||||||||
Salaries | $ | 1,105 | $ | (3 | ) | $ | 1,102 | $ | 3,723 | $ | (18 | ) | $ | 3,705 | ||||||||||
Employee benefits | 1,362 | 62 | 1,424 | 1,934 | 51 | 1,985 | ||||||||||||||||||
Occupancy expense | 5 | — | 5 | 306 | — | 306 | ||||||||||||||||||
Furniture and equipment expense | 373 | — | 373 | 904 | — | 904 | ||||||||||||||||||
Data processing fees | 226 | — | 226 | 34 | — | 34 | ||||||||||||||||||
Professional fees and services | 592 | (487 | ) | 105 | 680 | 786 | 1,466 | |||||||||||||||||
Marketing | 101 | — | 101 | 263 | — | 263 | ||||||||||||||||||
Insurance | (321 | ) | — | (321 | ) | (463 | ) | — | (463 | ) | ||||||||||||||
Communication | 34 | — | 34 | (49 | ) | — | (49 | ) | ||||||||||||||||
State tax expense | 15 | — | 15 | 47 | 10 | 57 | ||||||||||||||||||
Miscellaneous | (103 | ) | 19 | (84 | ) | 188 | (18 | ) | 170 | |||||||||||||||
Total other expense | $ | 3,389 | $ | (409 | ) | $ | 2,980 | $ | 7,567 | $ | 811 | $ | 8,378 |
• | Loans decreased by $47.5 million, or 0.9%, to $5,325 million at June 30, 2018, compared to $5,372 million at December 31, 2017. |
• | Cash and cash equivalents decreased by $23.0 million to $146.2 million at June 30, 2018, compared to $169.1 million at December 31, 2017. Money market instruments were $23.2 million at June 30, 2018, compared to $37.2 million at December 31, 2017 and Cash and due from banks were $122.9 million at June 30, 2018, compared to $131.9 million at December 31, 2017. |
• | Short-term borrowings decreased by $175.2 million, or 44.8%, to $216.1 million at June 30, 2018, compared to $391.3 million at December 31, 2017. |
• | Long-term borrowings decreased by $100.0 million, or 20.0%, to $400.0 million at June 30, 2018, compared to $500.0 million at December 31, 2017. |
• | Total deposits increased by $198.5 million, or 3.4%, to $6,016 million at June 30, 2018, compared to $5,817 million at December 31, 2017. |
• | Retained earnings increased by $31.6 million during the period as a result of net income of $59.4 million and cumulative effects of changes in accounting principle of $5.7 million, offset by common share dividends of $33.2 million. |
• | Treasury shares increased by $4.5 million during the period as a result of the repurchase of treasury shares, offset by the issuance of treasury shares. |
• | Accumulated other comprehensive loss, net of taxes increased by $28.6 million during the period as a result of unrealized net holding losses on securities available for sale, net of taxes, of $25.8 million, and the cumulative effects of changes in accounting principle of $4.8 million, offset by a net realized loss on the sale of securities of $2.0 million reclassified from accumulated other comprehensive loss. |
As of June 30, 2018 | |||||||||||
Leverage | Tier 1 Risk-Based | Common Equity Tier 1 | Total Risk-Based | ||||||||
The Park National Bank | 7.93 | % | 10.85 | % | 10.85 | % | 12.18 | % | |||
Park National Corporation | 10.12 | % | 13.75 | % | 13.48 | % | 14.66 | % | |||
Adequately capitalized ratio | 4.00 | % | 6.00 | % | 4.50 | % | 8.00 | % | |||
Adequately capitalized ratio plus capital conservation buffer | 4.00 | % | 8.50 | % | 7.00 | % | 10.50 | % | |||
Well capitalized ratio (PNB) | 5.00 | % | 8.00 | % | 6.50 | % | 10.00 | % | |||
Well capitalized ratio (Park) | N/A | 6.00 | % | N/A | 10.00 | % |
As of December 31, 2017 | |||||||||||
Leverage | Tier 1 Risk-Based | Common Equity Tier 1 | Total Risk-Based | ||||||||
The Park National Bank | 7.36 | % | 10.35 | % | 10.35 | % | 11.60 | % | |||
Park National Corporation | 9.44 | % | 13.22 | % | 12.94 | % | 14.14 | % | |||
Adequately capitalized ratio | 4.00 | % | 6.00 | % | 4.50 | % | 8.00 | % | |||
Adequately capitalized ratio plus capital conservation buffer | 4.00 | % | 8.50 | % | 7.00 | % | 10.50 | % | |||
Well capitalized ratio (PNB) | 5.00 | % | 8.00 | % | 6.50 | % | 10.00 | % | |||
Well capitalized ratio (Park) | N/A | 6.00 | % | N/A | 10.00 | % |
(In thousands) | June 30, 2018 | December 31, 2017 | ||||||
Loan commitments | $ | 935,018 | $ | 893,205 | ||||
Standby letters of credit | $ | 12,068 | $ | 13,421 |
• | information required to be disclosed by Park in this Quarterly Report on Form 10-Q and other reports that Park files or submits under the Exchange Act would be accumulated and communicated to Park’s management, including its principal executive officer and principal financial officer, as appropriate to allow timely decisions regarding required disclosure; |
• | information required to be disclosed by Park in this Quarterly Report on Form 10-Q and the other reports that Park files or submits under the Exchange Act would be recorded, processed, summarized and reported within the time periods specified in the SEC’s rules and forms; and |
• | Park’s disclosure controls and procedures were effective as of the end of the quarterly period covered by this Quarterly Report on Form 10-Q. |
(a) | Not applicable |
(b) | Not applicable |
(c) | The following table provides information concerning purchases of Park’s common shares made by or on behalf of Park or any “affiliated purchaser” as defined in Rule 10b-18(a)(3) under the Securities Exchange Act of 1934, as amended, during the three months ended June 30, 2018, as well as the maximum number of common shares that may be purchased under Park’s previously announced stock repurchase authorization to fund the 2017 Long-Term Incentive Plan for Employees (the "2017 Employees LTIP") and the 2017 Long-Term Incentive Plan for Non-Employee Directors (the "2017 Non-Employee Directors LTIP") and Park's previously announced 2017 stock repurchase authorization: |
Period | Total number of common shares purchased | Average price paid per common share | Total number of common shares purchased as part of publicly announced plans or programs | Maximum number of common shares that may yet be purchased under the plans or programs (1) | |||||||||
April 1 through April 30, 2018 | — | $ | — | — | 1,380,000 | ||||||||
May 1 through May 31, 2018 | 17,645 | 114.27 | 17,645 | 1,362,355 | |||||||||
June 1 through June 30, 2018 | 32,355 | 116.41 | 32,355 | 1,330,000 | |||||||||
Total | 50,000 | $ | 115.66 | 50,000 | 1,330,000 |
(1) | The number shown represents, as of the end of each period, the maximum number of common shares that may yet be purchased as part of Park’s publicly announced stock repurchase authorization to fund the 2017 Employees LTIP which became effective on April 24, 2017, the 2017 Non-Employee Directors LTIP which became effective on April 24, 2017 and Park's publicly announced 2017 stock repurchase authorization which became effective on January 23, 2017. |
2.1 | ||
3.1(a) | Articles of Incorporation of Park National Corporation as filed with the Ohio Secretary of State on March 24, 1992 (Incorporated herein by reference to Exhibit 3(a) to Park National Corporation’s Form 8-B, filed on May 20, 1992 (File No. 0-18772) (“Park’s Form 8-B”)) | |
3.1(b) | Certificate of Amendment to the Articles of Incorporation of Park National Corporation as filed with the Ohio Secretary of State on May 6, 1993 (Incorporated herein by reference to Exhibit 3(b) to Park National Corporation’s Annual Report on Form 10-K for the fiscal year ended December 31, 1993 (File No. 0-18772)) | |
3.1(c) | ||
3.1(d) | ||
3.1(e) | ||
3.1(f) | ||
3.1(g) | ||
3.1(h) | ||
3.2(a) | Regulations of Park National Corporation (Incorporated herein by reference to Exhibit 3(b) to Park’s Form 8-B) | |
3.2(b) | ||
3.2(c) | ||
3.2(d) | ||
3.2(e) | ||
10.1 | ||
10.2 | ||
10.3 | ||
31.1 | ||
31.2 | ||
32.1 | ||
32.2 | ||
101 | The following information from Park’s Quarterly Report on Form 10-Q for the quarterly period ended June 30, 2018 formatted in XBRL (eXtensible Business Reporting Language) pursuant to Rule 405 of Regulation S-T: (i) the Consolidated Condensed Balance Sheets as of June 30, 2018 and December 31, 2017 (unaudited); (ii) the Consolidated Condensed Statements of Income for the three and months ended June 30, 2018 and 2017 (unaudited); (iii) the Consolidated Condensed Statements of Comprehensive Income for the three and six months ended June 30, 2018 and 2017 (unaudited); (iv) the Consolidated Condensed Statements of Changes in Shareholders’ Equity for the six months ended June 30, 2018 and 2017 (unaudited); (v) the Consolidated Condensed Statements of Cash Flows for the six months ended June 30, 2018 and 2017 (unaudited); and (vi) the Notes to Unaudited Consolidated Condensed Financial Statements (electronically submitted herewith). |
PARK NATIONAL CORPORATION | ||
DATE: July 27, 2018 | /s/ David L. Trautman | |
David L. Trautman | ||
Chief Executive Officer and President | ||
DATE: July 27, 2018 | /s/ Brady T. Burt | |
Brady T. Burt | ||
Chief Financial Officer, Secretary and Treasurer | ||
1. | I have reviewed this Quarterly Report on Form 10-Q for the quarterly period ended June 30, 2018, of Park National Corporation; |
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. |
DATE: July 27, 2018 | /s/ David L. Trautman | |
David L. Trautman | ||
Chief Executive Officer and President | ||
(Principal Executive Officer) |
1. | I have reviewed this Quarterly Report on Form 10-Q for the quarterly period ended June 30, 2018, of Park National Corporation; |
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. |
DATE: July 27, 2018 | /s/ Brady T. Burt | |
Brady T. Burt | ||
Chief Financial Officer, Secretary and Treasurer | ||
(Principal Financial Officer) |
(1) | The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended; and |
(2) | The information contained in the Report fairly presents, in all material respects, the consolidated financial condition and results of operations of the Company and its subsidiaries. |
/s/ David L. Trautman | ||
David L. Trautman | ||
Chief Executive Officer and President | ||
(Principal Executive Officer) | ||
DATE: July 27, 2018 |
(1) | The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended; and |
(2) | The information contained in the Report fairly presents, in all material respects, the consolidated financial condition and results of operations of the Company and its subsidiaries. |
/s/ Brady T. Burt | ||
Brady T. Burt | ||
Chief Financial Officer, Secretary and Treasurer | ||
(Principal Financial Officer) | ||
DATE: July 27, 2018 |
Document And Entity Information - shares |
6 Months Ended | |
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Jun. 30, 2018 |
Jul. 26, 2018 |
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Document Information [Line Items] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Jun. 30, 2018 | |
Document Fiscal Year Focus | 2018 | |
Document Fiscal Period Focus | Q2 | |
Entity Registrant Name | PARK NATIONAL CORP /OH/ | |
Entity Central Index Key | 0000805676 | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Large Accelerated Filer | |
Entity Common Stock, Shares Outstanding | 15,686,552 |
Consolidated Condensed Balance Sheets (Parenthetical) - USD ($) $ in Thousands |
Jun. 30, 2018 |
Dec. 31, 2017 |
---|---|---|
Securities available-for-sale, amortized cost | $ 1,127,511 | $ 1,097,645 |
Securities held-to-maturity, fair value | $ 348,192 | $ 363,779 |
Preferred Stock, Shares Authorized | 200,000 | 200,000 |
Preferred Stock, Shares Issued | 0 | 0 |
Common stock no par value | $ 0 | $ 0 |
Common stock shares authorized | 20,000,000 | 20,000,000 |
Common stock shares issued | 16,150,732 | 16,150,752 |
Treasury stock shares | 899,637 | 862,558 |
Consolidated Condensed Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Thousands |
3 Months Ended | 6 Months Ended | ||
---|---|---|---|---|
Jun. 30, 2018 |
Jun. 30, 2017 |
Jun. 30, 2018 |
Jun. 30, 2017 |
|
Statement of Comprehensive Income [Abstract] | ||||
Other Comprehensive Income (Loss), Securities, Available-for-Sale, Unrealized Holding Gain (Loss) Arising During Period, Tax | $ (630) | $ 1,621 | $ (6,853) | $ 2,171 |
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Sale of Securities, Tax | $ 538 | $ 0 |
Consolidated Condensed Statements Of Changes In Stockholders' Equity (Parenthetical) - $ / shares |
6 Months Ended | |
---|---|---|
Jun. 30, 2018 |
Jun. 30, 2017 |
|
Statement of Stockholders' Equity [Abstract] | ||
Cash dividends on common stock per share | $ 2.15 | $ 1.88 |
Treasury Stock, Shares, Acquired | 50,000 | 50,000 |
Stock Issued During Period, Shares, Restricted Stock Award, Gross | 18,800 | 9,674 |
Basis Of Presentation |
6 Months Ended |
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Jun. 30, 2018 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Basis Of Presentation | Basis of Presentation The accompanying unaudited consolidated condensed financial statements included in this report have been prepared for Park National Corporation (sometimes also referred to as the “Registrant”) and its subsidiaries. Unless the context otherwise requires, references to "Park", the "Corporation" or the "Company" and similar terms mean Park National Corporation and its subsidiaries. In the opinion of management, all adjustments (consisting of normal recurring accruals) necessary for a fair presentation of the results of operations for the interim periods included herein have been made. The results of operations for the three-month and six-month periods ended June 30, 2018 are not necessarily indicative of the operating results to be anticipated for the fiscal year ending December 31, 2018. The accompanying unaudited consolidated condensed financial statements have been prepared in accordance with the instructions for Form 10-Q and, therefore, do not include all information and footnotes necessary for a fair presentation of the condensed balance sheets, condensed statements of income, condensed statements of comprehensive income, condensed statements of changes in shareholders’ equity and condensed statements of cash flows in conformity with United States ("U.S.") generally accepted accounting principles (“U.S. GAAP”). These financial statements should be read in conjunction with the consolidated financial statements incorporated by reference in the Annual Report on Form 10-K of Park for the fiscal year ended December 31, 2017 from Park’s 2017 Annual Report to Shareholders (“Park's 2017 Annual Report”). Prior period financial statement reflect the retrospective application of Accounting Standards Update ("ASU") 2017-07 - Compensation - Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost. This change in classification had no effect on reported net income. Park’s significant accounting policies are described in Note 1 of the Notes to Consolidated Financial Statements included in Park’s 2017 Annual Report. For interim reporting purposes, Park follows the same basic accounting policies, as updated by the information contained in this report, and considers each interim period an integral part of an annual period. |
Recent Accounting Pronouncements |
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New Accounting Pronouncements and Changes in Accounting Principles [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Recent Accounting Pronouncements | Adoption of New Accounting Pronouncements and Issued But Not Yet Effective Accounting Standards The following is a summary of new accounting pronouncements impacting Park's consolidated financial statements, and issued but not yet effective accounting standards: Adoption of New Accounting Pronouncements ASU 2014-09 - Revenue from Contracts with Customers (Topic 606): In May 2014, the Financial Accounting Standards Board ("FASB") issued ASU 2014-09, Revenue from Contracts with Customers (Topic 606). This ASU creates a new topic, Topic 606, to provide guidance on revenue recognition for entities that enter into contracts with customers to transfer goods or services or enter into contracts for the transfer of nonfinancial assets. The core principle of the guidance is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. Additional disclosures are required to provide quantitative and qualitative information regarding the nature, amount, timing, and uncertainty of revenue and cash flows arising from contracts with customers. The new guidance is effective for annual reporting periods, and interim reporting periods within those annual periods, beginning after December 15, 2017. The majority of the Company's revenues come from interest income and other sources, including loans, leases, securities and derivatives, that are outside the scope of ASC 606. Certain services that fall within the scope of ASC 606 are presented within Other Income and are recognized as revenue as the Company satisfies its obligation to the customer. Services within the scope of ASC 606 include income from fiduciary activities, service charges on deposit accounts, other service income, checkcard fee income, ATM fees, and gain on sale of OREO, net. The adoption of this guidance on January 1, 2018 did not have a material impact on Park's consolidated financial statements. However, the adoption of this standard resulted in additional disclosures beginning with the first quarter 2018 Form 10-Q. Reference Note 19, Revenue from Contracts with Customers, for further discussion on the Company's accounting policies for revenue sources within the scope of ASC 606. ASU 2016-01 - Financial Instruments - Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities. In January 2016, the FASB issued ASU 2016-01 - Financial Instruments - Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities. Changes reflected in the current U.S. GAAP model primarily affect the accounting for equity investments, financial liabilities under the fair value option, and the presentation and disclosure requirements for financial instruments. In addition, this ASU clarifies guidance related to the valuation allowance assessment when recognizing deferred tax assets resulting from unrealized losses on available-for-sale ("AFS") securities. The new guidance is effective for annual reporting periods and interim reporting periods within those annual periods, beginning after December 15, 2017. The adoption of this guidance on January 1, 2018 resulted in an $1.9 million increase to beginning retained earnings and a $995,000 increase to beginning accumulated other comprehensive loss. Additional income of $3.2 million and $1.3 million was recorded in the first and second quarters of 2018, respectively, as a result of changes to the accounting for equity investments. Further, beginning with the first quarter of 2018, Park's fair value disclosures in Note 14, Fair Value, have incorporated the revised disclosure requirements for financial investments. ASU 2016-15 - Statement of Cash Flows (Topic 203): Classification of Certain Cash Receipts and Cash Payments (a consensus of the Emerging Issues Task Force): In August 2016, the FASB issued ASU 2016-15, Statement of Cash Flows (Topic 203): Classification of Certain Cash Receipts and Cash Payments (a consensus of the Emerging Issues Task Force). This ASU provides guidance on eight specific cash flow issues where then current GAAP was either unclear or did not include specific guidance. The new guidance is effective for annual reporting periods, and interim reporting periods within those annual periods, beginning after December 15, 2017. The adoption of this guidance on January 1, 2018 did not have an impact on Park's consolidated financial statements. As such transactions arise, management will utilize the updated guidance in providing disclosures within Park’s consolidated condensed statements of cash flows. ASU 2017-07 - Compensation - Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost: In March 2017, the FASB issued ASU 2017-07 - Compensation - Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost. This ASU requires that an employer report the service cost component in the same line item or items as other compensation costs arising from services rendered by the pertinent employees during the period. The other components of net benefit cost are required to be presented in the income statement separately from the service cost component. The new guidance is effective for annual reporting periods, and interim reporting periods within those annual periods, beginning after December 15, 2017. As a result of the adoption of this guidance on January 1, 2018, all prior periods have been recast to separately record the service cost component and other components of net benefit cost. For all periods presented, this resulted in an increase in other income and an offsetting increase in other expense with no change to net income. See Note 12, Benefit Plans, for further details. ASU 2017-09 - Compensation - Stock Compensation (Topic 718): Scope of Modification Accounting: In May 2017, the FASB issued ASU 2017-09 - Compensation - Stock Compensation (Topic 718): Scope of Modification Accounting. This ASU amends the guidance concerning which changes to the terms or conditions of a share-based payment award require an entity to apply modification accounting under Topic 718. The new guidance is effective for annual reporting periods, and interim reporting periods within those annual periods, beginning after December 15, 2017. The adoption of this guidance on January 1, 2018 did not impact Park's consolidated financial statements. ASU 2017-12 - Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities: In August 2017, the FASB issued ASU 2017-12 - Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities. This ASU amends the current guidance with the objective of improving the financial reporting of hedging relationships to better portray the economic results of an entity's risk management activities in its financial statements. In addition, this ASU amends the current guidance to simplify the application of the hedge accounting guidance. The new guidance is effective for annual reporting periods, and interim reporting periods within those annual periods, beginning after December 15, 2018. Early adoption is permitted for interim or annual periods. The early adoption of this guidance on July 1, 2018 did not have an impact on Park's consolidated financial statements. Park will apply this guidance to future transactions. ASU 2018-02 - Income Statement - Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income: In February 2018, the FASB issued ASU 2018-02 - Income Statement - Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income. This ASU allows a reclassification from accumulated other comprehensive income to retained earnings for stranded tax effects, resulting from the newly - enacted federal corporate income tax rate. The amount of the reclassification is the difference between the historical federal corporate income tax rate and the newly-enacted 21% federal corporate income tax rate. The guidance is effective for annual reporting periods, and interim reporting periods within those annual periods, beginning after December 15, 2018. Early adoption is permitted for interim or annual periods. The early adoption of this guidance effective January 1, 2018 resulted in a $3.8 million increase to Park's accumulated other comprehensive loss and a $3.8 million increase to retained earnings. ASU 2018-03 - Technical Corrections and Improvements to Financial Instruments - Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities. In February 2018, the FASB issued ASU 2018-03 - Technical Corrections and Improvements to Financial Instruments - Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities. This ASU includes amendments that clarify certain aspects of the guidance issued in ASU 2016-01. Park considered this clarification in determining the appropriate adoption of ASU 2016-01 effective as of January 1, 2018. Issued But Not Yet Effective Accounting Standards ASU 2016-02 - Leases (Topic 842): In February 2016, the FASB issued ASU 2016-02 - Leases (Topic 842). This ASU will require all organizations that lease assets to recognize on the balance sheet the assets and liabilities for the rights and obligations created by those leases. Additional qualitative and quantitative disclosures will be required so that users can understand more about the nature of an entity’s leasing activities. The new guidance is effective for annual reporting periods and interim reporting periods within those annual periods, beginning after December 15, 2018. Early adoption is permitted. Management is currently analyzing data on leased assets. The adoption of this guidance is expected to increase both assets and liabilities, but is not expected to have a material impact on Park's consolidated statement of income. ASU 2016-13 - Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments: In June 2016, FASB issued ASU 2016-13 - Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments. The new guidance replaces the incurred loss model with an expected loss model, which is referred to as the current expected credit loss ("CECL") model. The CECL model is applicable to the measurement of credit losses on financial assets measured at amortized cost, including loan receivables, held-to-maturity ("HTM") debt securities, and reinsurance receivables. It also applies to off-balance sheet credit exposures not accounted for as insurance (loan commitments, standby letters of credit, financial guarantees, and other similar instruments) and net investments in leases recognized by a lessor. The CECL model requires an entity to estimate credit losses over the life of an asset or off-balance sheet exposure. The new guidance is effective for annual reporting periods and interim reporting periods within those annual periods, beginning after December 15, 2019. Early adoption is permitted for annual reporting periods and interim reporting periods within those annual periods, beginning after December 15, 2018. Management is currently evaluating the impact of the adoption of this guidance on Park's consolidated financial statements. We anticipate that the adoption of the CECL model will result in a material increase to Park's allowance for loan losses. Management has established a committee to oversee the implementation of the CECL model and is currently in the process of implementing a software solution to assist in implementing the adoption of this ASU. Management plans to run our current allowance model and a CECL model concurrently for 12 months prior to the adoption of this guidance on January 1, 2020. ASU 2017-08 - Receivables - Nonrefundable Fees and Other Costs (Subtopic 310-20): Premium Amortization on Purchased Callable Debt Securities: In March 2017, the FASB issued ASU 2017-08 - Receivables - Nonrefundable Fees and Other Costs (Subtopic 310-20): Premium Amortization on Purchased Callable Debt Securities. This ASU amends the amortization period for certain purchased callable debt securities held at a premium. It shortens the amortization period for the premium to the earliest call date. Under current U.S. GAAP, premiums on callable debt securities generally are amortized to the maturity date. The new guidance is effective for annual reporting periods, and interim reporting periods within those annual periods, beginning after December 15, 2018. Early adoption is permitted for interim or annual periods. The adoption of this guidance is not expected to have a material impact on Park's consolidated financial statements. The following table summarizes the impact of retrospective application of this ASU to the consolidated condensed statement of income for the three and six months ended June 30, 2017.
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Loans and Leases Receivable Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Loans | Loans The composition of the loan portfolio, by class of loan, as of June 30, 2018 and December 31, 2017 was as follows:
* Included within each of commercial, financial and agricultural loans and commercial real estate loans is an immaterial amount of consumer loans that are not broken out by class. Loans are shown net of deferred origination fees, costs and unearned income of $12.3 million at June 30, 2018 and $12.2 million at December 31, 2017, which represented a net deferred income position in both periods. Overdrawn deposit accounts of $1.0 million and $1.9 million had been reclassified to loans at June 30, 2018 and December 31, 2017, respectively, and are included in the commercial, financial and agricultural loan class above. Credit Quality The following tables present the recorded investment in nonaccrual loans, accruing troubled debt restructurings ("TDRs"), and loans past due 90 days or more and still accruing by class of loan as of June 30, 2018 and December 31, 2017:
The following table provides additional information regarding those nonaccrual loans and accruing TDR loans that were individually evaluated for impairment and those collectively evaluated for impairment, as of June 30, 2018 and December 31, 2017.
All of the loans individually evaluated for impairment were evaluated using the fair value of the underlying collateral or the present value of expected future cash flows as the measurement method. The following table presents loans individually evaluated for impairment by class of loan, together with the related allowance recorded, as of June 30, 2018 and December 31, 2017.
Management’s general practice is to proactively charge down loans individually evaluated for impairment to the fair value of the underlying collateral. At June 30, 2018 and December 31, 2017, there were $9.2 million and $7.9 million, respectively, of partial charge-offs on loans individually evaluated for impairment with no related allowance recorded. At June 30, 2018 and December 31, 2017, there were $2.2 million and $2.1 million, respectively, of partial charge-offs on loans individually evaluated for impairment that also had a specific reserve allocated. The allowance for loan losses included specific reserves related to loans individually evaluated for impairment at June 30, 2018 and December 31, 2017 of $1.4 million and $0.7 million, respectively. These loans with specific reserves had a recorded investment of $5.3 million and $3.5 million as of June 30, 2018 and December 31, 2017, respectively. Interest income on nonaccrual loans individually evaluated for impairment is recognized on a cash basis only when Park expects to receive the entire recorded investment of the loan. Interest income on accruing TDRs individually evaluated for impairment continues to be recorded on an accrual basis. The following table presents the average recorded investment and interest income recognized subsequent to impairment on loans individually evaluated for impairment as of and for the three and six months ended June 30, 2018 and June 30, 2017:
The following tables present the aging of the recorded investment in past due loans as of June 30, 2018 and December 31, 2017 by class of loan.
(1) Includes $1.5 million of loans past due 90 days or more and accruing. The remaining loans were past due nonaccrual loans. (2) Includes $53.4 million of nonaccrual loans which were current in regards to contractual principal and interest payments.
(1) Includes $1.8 million of loans past due 90 days or more and accruing. The remaining loans were past due nonaccrual loans. (2) Includes $56.1 million of nonaccrual loans which were current in regards to contractual principal and interest payments. Credit Quality Indicators Management utilizes past due information as a credit quality indicator across the loan portfolio. Past due information as of June 30, 2018 and December 31, 2017 is included in the tables above. The past due information is the primary credit quality indicator within the following classes of loans: (1) mortgage loans and installment loans in the construction real estate segment; (2) mortgage loans, HELOC and installment loans in the residential real estate segment; and (3) consumer loans. The primary credit indicator for commercial loans is based on an internal grading system that grades commercial loans on a scale from 1 to 8. Credit grades are continuously monitored by the responsible loan officer and adjustments are made when appropriate. A grade of 1 indicates little or no credit risk and a grade of 8 is considered a loss. Commercial loans that are pass-rated (graded an 1 through a 4) are considered to be of acceptable credit risk. Commercial loans graded a 5 (special mention) are considered to be watch list credits and a higher loan loss reserve percentage is allocated to these loans. Loans classified as special mention have potential weaknesses that require management’s close attention. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for the loan or of Park’s credit position at some future date. Commercial loans graded a 6 (substandard), also considered to be watch list credits, are considered to represent higher credit risk and, as a result, a higher loan loss reserve percentage is allocated to these loans. Loans classified as substandard are inadequately protected by the current sound worth and paying capacity of the obligor or the value of the collateral pledged, if any. Loans so classified have a well-defined weakness or weaknesses that jeopardize the liquidation of the debt. They are characterized by the distinct possibility that Park will sustain some loss if the deficiencies are not corrected. Commercial loans that are graded a 7 (doubtful) are shown as nonaccrual and Park generally charges these loans down to their fair value by taking a partial charge-off or recording a specific reserve. Loans classified as doubtful have all the weaknesses inherent in those classified as substandard with the added characteristic that the weaknesses make collection or liquidation in full, on the basis of currently existing facts, conditions, and values, highly questionable and improbable. Certain 6-rated loans and all 7-rated loans are placed on nonaccrual status and included within the impaired category. A loan is deemed impaired when management determines the borrower's ability to perform in accordance with the contractual loan agreement is in doubt. Any commercial loan graded an 8 (loss) is completely charged off. The tables below present the recorded investment by loan grade at June 30, 2018 and December 31, 2017 for all commercial loans:
* Included within each of commercial, financial and agricultural loans and commercial real estate loans is an immaterial amount of consumer loans that are not broken out by class.
* Included within each of commercial, financial and agricultural loans and commercial real estate loans is an immaterial amount of consumer loans that are not broken out by class. Troubled Debt Restructurings ("TDRs") Management classifies loans as TDRs when a borrower is experiencing financial difficulties and Park has granted a concession to the borrower as part of a modification or in the loan renewal process. In order to determine whether a borrower is experiencing financial difficulty, an evaluation is performed of the probability that the borrower will be in payment default on any of the borrower's debt in the foreseeable future without the modification. This evaluation is performed in accordance with the Company’s internal underwriting policy. Management’s policy is to modify loans by extending the term or by granting a temporary or permanent contractual interest rate below the market rate, not by forgiving debt. A court's discharge of a borrower's debt in a Chapter 7 bankruptcy is considered a concession when the borrower does not reaffirm the discharged debt. Certain loans which were modified during the three-month periods ended June 30, 2018 and June 30, 2017 did not meet the definition of a TDR as the modification was a delay in a payment that was considered to be insignificant. Management considers a forbearance period of up to three months or a delay in payment of up to 30 days to be insignificant. TDRs may be classified as accruing if the borrower has been current for a period of at least six months with respect to loan payments and management expects that the borrower will be able to continue to make payments in accordance with the terms of the restructured note. Management reviews all accruing TDRs quarterly to ensure payments continue to be made in accordance with the modified terms. Quarterly, management reviews renewals/modifications of loans previously identified as TDRs to consider if it is appropriate to remove the TDR classification. If the borrower is no longer experiencing financial difficulty and the renewal/modification did not contain a concessionary interest rate or other concessionary terms, management considers the potential removal of the TDR classification. If deemed appropriate, the TDR classification is removed if the borrower has complied with the terms of the loan at the date of the renewal/modification and there was a reasonable expectation that the borrower would continue to comply with the terms of the loan subsequent to the date of the renewal/modification. The majority of these TDRs were originally considered restructurings in a prior year as a result of a renewal/modification with an interest rate that was not commensurate with the risk of the underlying loan at the time of the renewal/modification. The TDR classification was removed on $1.9 million of loans during the three-month period ended June 30, 2018 and $2.2 million of loans during the six-month period ended June 30, 2018. There were no TDR classifications removed during the three-month or six-month periods ended June 30, 2017. At June 30, 2018 and December 31, 2017, there were $23.9 million and $38.5 million, respectively, of TDRs included in the nonaccrual loan totals. At June 30, 2018 and December 31, 2017, $18.1 million and $32.4 million, respectively, of these nonaccrual TDRs were performing in accordance with the terms of the restructured note. As of June 30, 2018 and December 31, 2017, loans with a recorded investment of $16.4 million and $20.2 million, respectively, were included in accruing TDR loan totals. Management will continue to review the restructured loans and may determine it is appropriate to move certain nonaccrual TDRs to accrual status in the future. At June 30, 2018 and December 31, 2017, Park had commitments to lend $0.6 million and $1.3 million, respectively, of additional funds to borrowers whose outstanding loan terms had been modified in a TDR. At both June 30, 2018 and December 31, 2017, there were $0.5 million of specific reserves related to TDRs. Modifications made in 2017 and 2018 were largely the result of renewals and extending the maturity date of the loan at terms consistent with the original note. These modifications were deemed to be TDRs primarily due to Park’s conclusion that the borrower would likely not have qualified for similar terms through another lender. Many of the modifications deemed to be TDRs were previously identified as impaired loans, and thus were also previously evaluated for impairment under Accounting Standards Codification (ASC) 310. There were no additional specific reserves recorded during the three-month period ended June 30, 2018 as a result of TDRs identified in the period. Additional specific reserves of $10,000 were recorded during the three-month period ended June 30, 2017 as a result of TDRs identified in the period. Additional specific reserves of $10,000 and $290,000 were recorded during the six-month periods ended June 30, 2018 and June 30, 2017, respectively, as a result of TDRs identified in the respective periods. The terms of certain other loans were modified during the three-month and six-month periods ended June 30, 2018 and June 30, 2017 that did not meet the definition of a TDR. Substandard commercial loans modified during the three-month and six-month periods ended June 30, 2018 which did not meet the definition of a TDR had a total recorded investment of $0.1 million and $0.2 million, respectively. There were no substandard commercial loans modified during the three-month period ended June 30, 2017 which did not meet the definition of a TDR. Substandard commercial loans with a recorded investment of $0.1 million were modified during the six-month period ended June 30, 2017 which did not meet the definition of a TDR. The renewal/modification of these loans: (1) resulted in a delay in a payment that was considered to be insignificant, or (2) resulted in Park obtaining additional collateral or guarantees that improved the likelihood of the ultimate collection of the loans such that each modification was deemed to be at market terms. Consumer loans modified during the three-month and six-month periods ended June 30, 2018 which did not meet the definition of a TDR had a total recorded investment of $4.7 million and $11.0 million, respectively. Consumer loans with a recorded investment of $3.4 million and $5.0 million were modified during the three-month and six-month periods ended June 30, 2017 and did not meet the definition of a TDR. Many of these loans were to borrowers who were not experiencing financial difficulties but who were looking to reduce their cost of funds. The following tables detail the number of contracts modified as TDRs during the three-month periods ended June 30, 2018 and June 30, 2017, as well as the recorded investment of these contracts at June 30, 2018 and June 30, 2017. The recorded investment pre- and post-modification is generally the same due to the fact that Park does not typically forgive principal.
Of those loans which were modified and determined to be a TDR during the three-month period ended June 30, 2018, $5,000 were on nonaccrual status as of December 31, 2017. Of those loans which were modified and determined to be a TDR during the three-month period ended June 30, 2017, $175,000 were on nonaccrual status as of December 31, 2016.
Of those loans which were modified and determined to be a TDR during the six-month period ended June 30, 2018, $0.4 million were on nonaccrual status as of December 31, 2017. Of those loans which were modified and determined to be a TDR during the six-month period ended June 30, 2017, $2.8 million were on nonaccrual status as of December 31, 2016. The following table presents the recorded investment in financing receivables which were modified as TDRs within the previous 12 months and for which there was a payment default during the three-month and six-month periods ended June 30, 2018 and June 30, 2017, respectively. For this table, a loan is considered to be in default when it becomes 30 days contractually past due under the modified terms. The additional allowance for loan loss resulting from the defaults on TDR loans was immaterial.
Of the $1.2 million in modified TDRs which defaulted during the three-month period ended June 30, 2018, $21,000 were accruing loans and $1.2 million were nonaccrual loans. Of the $2.1 million in modified TDRs which defaulted during the three-month period ended June 30, 2017, $13,000 were accruing loans and $2.1 million were nonaccrual loans.
Of the $1.4 million in modified TDRs which defaulted during the six-month period ended June 30, 2018, $21,000 were accruing loans and $1.4 million were nonaccrual loans. Of the $2.3 million in modified TDRs which defaulted during the six-month period ended June 30, 2017, $13,000 were accruing loans and $2.3 million were nonaccrual loans. |
Allowance For Loan Losses |
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Allowance for Loan and Lease Losses Write-offs, Net [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Allowance For Loan Losses | Allowance for Loan Losses The allowance for loan losses ("ALLL") is that amount management believes is adequate to absorb probable incurred credit losses in the loan portfolio based on management’s evaluation of various factors including overall growth in the loan portfolio, an analysis of individual loans, prior and current loss experience, and current economic conditions. A provision for loan losses is charged to operations based on management’s periodic evaluation of these and other pertinent factors as discussed within Note 1 of the Notes to Consolidated Financial Statements included in Park’s 2017 Annual Report. Loss factors are reviewed quarterly and updated at least annually to reflect recent loan loss history and incorporate current risk and trends which may not be recognized in historical data. The following are factors management reviews on a quarterly or annual basis.
The activity in the allowance for loan losses for the three-month and six-month periods ended June 30, 2018 and June 30, 2017 is summarized in the following tables.
Loans collectively evaluated for impairment in the following tables include all performing loans at June 30, 2018 and December 31, 2017, as well as nonperforming loans internally classified as consumer loans. Nonperforming consumer loans are not typically individually evaluated for impairment, but receive a portion of the statistical allocation of the allowance for loan losses. Loans individually evaluated for impairment include all impaired loans internally classified as commercial loans at June 30, 2018 and December 31, 2017, which are evaluated for impairment in accordance with U.S. GAAP (see Note 1 of the Notes to Consolidated Financial Statements included in Park’s 2017 Annual Report). The composition of the allowance for loan losses at June 30, 2018 and December 31, 2017 was as follows:
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Other Real Estate Owned Other Real Estate Owned |
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Other Real Estate Owned [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Real Estate Owned [Text Block] | Other Real Estate Owned ("OREO") Park typically transfers a loan to OREO at the time that Park takes deed/title to the asset. The carrying amounts of foreclosed properties held at June 30, 2018 and December 31, 2017 are listed below, as well as the recorded investment of loans secured by residential real estate properties for which formal foreclosure proceedings were in process at those dates.
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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 following table sets forth the computation of basic and diluted earnings per common share for the three and six months ended June 30, 2018 and 2017.
Park awarded 48,053 and 45,788 PBRSUs to certain employees during the six months ended June 30, 2018 and 2017, respectively. No PBRSUs were awarded during either of the three months ended June 30, 2018 and 2017. As of June 30, 2018, 138,994 PBRSUs were outstanding. The PBRSUs vest based on service and performance conditions. The dilutive effect of the outstanding PBRSUs was the addition of 132,075 and 101,780 common shares for the three months ended June 30, 2018 and 2017, respectively, and 137,653 and 111,193 common shares for the six months ended June 30, 2018 and 2017, respectively. Park repurchased 50,000 common shares during the three and six months ended June 30, 2018 to fund the PBRSUs and common shares to be awarded to directors of Park and to directors of Park's subsidiary PNB (and its divisions). Park repurchased 50,000 common shares during the six months ended June 30, 2017 to fund the PBRSUs and common shares to be awarded to directors of Park and to directors of Park's subsidiary PNB (and its divisions). Park did not repurchase any common shares during three months ended June 30, 2017. |
Segment Information |
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Segment Reporting [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Segment Information | Segment Information The Corporation is a financial holding company headquartered in Newark, Ohio. The operating segments for the Corporation are its chartered national bank subsidiary, The Park National Bank (headquartered in Newark, Ohio) (“PNB”), SE Property Holdings, LLC (“SEPH”), and Guardian Financial Services Company (“GFSC”). Management is required to disclose information about the different types of business activities in which a company engages and also information on the different economic environments in which a company operates, so that the users of the financial statements can better understand the company’s performance, better understand the potential for future cash flows, and make more informed judgments about the company as a whole. Park has three operating segments, as: (i) discrete financial information is available for each operating segment and (ii) the segments are aligned with internal reporting to Park’s Chief Executive Officer and President, who is the chief operating decision maker.
The operating results of the Parent Company in the “All Other” column are used to reconcile the segment totals to the consolidated condensed statements of income for the three-month and six-month periods ended June 30, 2018 and 2017. The reconciling amounts for consolidated total assets for the periods ended June 30, 2018 and 2017 consisted of the elimination of intersegment borrowings and the assets of the Parent Company which were not eliminated. |
Mortgage Loans Held For Sale Mortgage Loans Held for Sale |
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Jun. 30, 2018 | |
Mortgage Loans Held for Sale [Line Items] | |
Mortgage Loans Held For Sale Disclosure [Text Block] | Loans Held For Sale Mortgage loans held for sale are carried at their fair value. At June 30, 2018 and December 31, 2017, respectively, Park had approximately $8.2 million and $4.1 million in mortgage loans held for sale. These amounts are included in loans on the consolidated condensed balance sheets and in the residential real estate loan segments in Note 3, Loans, and Note 4, Allowance for Loan Losses. The contractual balance was $8.0 million and $4.1 million at June 30, 2018 and December 31, 2017, respectively. The gain expected upon sale was $108,000 and $55,000 at June 30, 2018 and December 31, 2017, respectively. None of these loans were 90 days or more past due or on nonaccrual status as of June 30, 2018 or December 31, 2017. |
Investment Securities |
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Investments, Debt and Equity Securities [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment Securities | Investment Securities The amortized cost and fair value of investment securities are shown in the following tables. Management performs a quarterly evaluation of investment securities for any other-than-temporary impairment. For the three-month and six-month periods ended June 30, 2018 and 2017, there were no investment securities deemed to be other-than-temporarily impaired. Investment securities at June 30, 2018, were as follows:
Investment securities with unrealized/unrecognized losses at June 30, 2018, were as follows:
Investment securities at December 31, 2017, were as follows:
Investment securities with unrealized/unrecognized losses at December 31, 2017, were as follows:
Management does not believe any of the unrealized/unrecognized losses at June 30, 2018 or December 31, 2017 represented other-than-temporary impairment. Should the impairment of any of these securities become other-than-temporary, the cost basis of the investment will be reduced and the resulting loss recognized within net income in the period the other-than-temporary impairment is identified. Park’s U.S. Government sponsored entities' asset-backed securities consist of 15-year residential mortgage-backed securities and collateralized mortgage obligations. The amortized cost and estimated fair value of investments in debt securities at June 30, 2018, are shown in the following table by contractual maturity, except for asset-backed securities, which are shown as a single total, due to the unpredictability of the timing of principal repayments.
(1) The tax equivalent yield for obligations of state and political subdivisions includes the effects of a taxable equivalent adjustment using a 21% federal corporate income tax rate. The remaining average life of the entire investment portfolio is estimated to be 4.9 years. There were no sales of investment securities during the three-month period ended June 30, 2018. During the six-month period ended June 30, 2018, Park sold certain AFS debt securities with a book value of $247.0 million at a loss of $2.6 million. Additionally, during the six-month period ended June 30, 2018, Park sold certain HTM debt securities with a book value of $7.4 million at a gain of $291,000. These HTM securities had been paid down by 96.3% of the principal outstanding at acquisition. There were no sales of investment securities during the three-month or six-month periods ended June 30, 2017. Investment securities having an amortized cost of $618 million and $557 million at June 30, 2018 and December 31, 2017, respectively, were pledged to collateralize government and trust department deposits in accordance with federal and state requirements, to secure repurchase agreements sold and as collateral for Federal Home Loan Bank ("FHLB") advance borrowings. |
Other Investment Securities |
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Other Investment Securities [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Investment Securities | Other Investment Securities Other investment securities consist of stock investments in the FHLB, the Federal Reserve Bank ("FRB"), and equity securities. The FHLB and FRB restricted stock investments are carried at their redemption value. Equity securities with a readily determinable fair value are carried at fair value. Beginning on January 1, 2018, with the adoption of ASU 2016-01, changes in fair value are included in other income on the consolidated condensed statement of income as opposed to in accumulated other comprehensive loss on the consolidated condensed balance sheet. Equity securities without a readily determinable fair value are recorded at cost, minus impairment, if any, plus or minus changes resulting from observable price changes in orderly transactions ("modified cost"). The carrying amount of other investment securities at June 30, 2018 and December 31, 2017 was as follows:
(1) There have been no impairments, downward adjustments, or upward adjustments made to equity investments carried at modified cost. During the three months ended March 31, 2018, an equity investment previously carried at cost, with a carrying amount of $3.5 million, was measured at fair value as a readily determinable market value became available. During the three and six months ended June 30, 2018, $0.3 million and $3.8 million, respectively, of unrealized gains were recorded within "unrealized gain on equity securities" on the consolidated condensed statements of income, which relate to investment securities held at June 30, 2018. |
Share Based Compensation Share Based Compensation |
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Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Disclosure of Share-based Compensation Arrangements by Share-based Payment Award [Table Text Block] | Share-Based Compensation The Park National Corporation 2013 Long-Term Incentive Plan (the "2013 Incentive Plan") was adopted by the Board of Directors of Park on January 28, 2013 and was approved by Park's shareholders at the Annual Meeting of Shareholders on April 22, 2013. The 2013 Incentive Plan made equity-based awards and cash-based awards available for grant to participants in the form of incentive stock options, nonqualified stock options, stock appreciation rights (“SARs”), restricted common shares (“Restricted Stock”), restricted stock unit awards that may be settled in common shares, cash or a combination of the two (“Restricted Stock Units”), unrestricted common shares (“Other Stock-Based Awards”) and cash-based awards. Under the 2013 Incentive Plan, 600,000 common shares were authorized to be delivered in connection with grants under the 2013 Incentive Plan. The common shares to be delivered under the 2013 Incentive Plan are to consist of either common shares currently held or common shares subsequently acquired by Park as treasury shares, including common shares purchased in the open market or in private transactions. As of June 30, 2018, there were 92,404 common shares subject to performance-based restricted stock units (“PBRSUs”) issued under the 2013 Incentive Plan, which represented the only awards outstanding under the 2013 Incentive Plan. The Park National Corporation 2017 Long-Term Incentive Plan for Employees (the "2017 Employees LTIP") was adopted by the Board of Directors of Park on January 23, 2017 and was approved by Park's shareholders at the Annual Meeting of Shareholders on April 24, 2017. The 2017 Employees LTIP makes equity-based awards and cash-based awards available for grant to participants in the form of incentive stock options, nonqualified stock options, SARs, Restricted Stock, Restricted Stock Units, Other Stock-Based Awards and cash-based awards. Under the 2017 Employees LTIP, 750,000 common shares are authorized to be delivered in connection with grants under the 2017 Employees LTIP. The common shares to be delivered under the 2017 Employees LTIP are to consist of either common shares currently held or common shares subsequently acquired by Park as treasury shares, including common shares purchased in the open market or in private transactions. At June 30, 2018, 703,410 common shares were available for future grants under the 2017 Employees LTIP. The Park National Corporation 2017 Long-Term Incentive Plan for Non-Employee Directors (the "2017 Non-Employee Directors LTIP") was adopted by the Board of Directors of Park on January 23, 2017 and was approved by Park's shareholders at the Annual Meeting of Shareholders on April 24, 2017. The 2017 Non-Employee Directors LTIP makes equity-based awards and cash-based awards available for grant to participants in the form of nonqualified stock options, SARs, Restricted Stock, Restricted Stock Units, Other Stock-Based Awards, and cash-based awards. Under the 2017 Non-Employee Directors LTIP, 150,000 common shares are authorized to be delivered in connection with grants under the 2017 Non-Employee Directors LTIP. The common shares to be delivered under the 2017 Non-Employee Directors LTIP are to consist of either common shares currently held or common shares subsequently acquired by Park as treasury shares, including common shares purchased in the open market or in private transactions. At June 30, 2018, 138,850 common shares were available for future grants under the 2017 Non-Employee Director LTIP. The 2017 Employees LTIP and the 2017 Non-Employee Directors LTIP have replaced the provisions of the 2013 Incentive Plan with respect to the grant of future awards. As a result of the approval of the 2017 Employees LTIP and the 2017 Non-Employee Directors LTIP, Park has not granted and will not grant any additional awards under the 2013 Incentive Plan after April 24, 2017. Awards made under the 2013 Incentive Plan prior to April 24, 2017 will remain in effect in accordance with their respective terms. During the six months ended June 30, 2018, the Compensation Committee of the Board of Directors of Park granted awards of PBRSUs, under the 2017 Employees LTIP, covering an aggregate of 48,053 common shares to certain employees of Park and its subsidiaries. During the six months ended June 30, 2017, the Compensation Committee of the Board of Directors of Park granted awards of PBRSUs, under the 2013 Incentive Plan, covering an aggregate of 45,788 common shares to certain employees of Park and its subsidiaries. There were no awards granted during either of the three months ended June 30, 2018 or 2017. The number of PBRSUs earned or settled will depend on the level of achievement with respect to certain performance criteria and are also subject to subsequent service-based vesting. A summary of changes in the common shares subject to nonvested PBRSUs for the six months ended June 30, 2018 follows:
(1) The number of PBRSUs earned depends on the level of achievement with respect to certain performance criteria. Adjustment herein represents the difference between the maximum number of common shares which could be earned and the actual number earned for those PBRSUs as to which the performance period was completed. On March 31, 2018, an aggregate of 18,800 of the PBRSUs granted in 2014 and 2015 vested in full due to the level of achievement with respect to certain performance criteria and the satisfaction of the service-based vesting requirement. A total of 5,879 common shares were withheld to satisfy employee income tax withholding obligations. This resulted in a net amount of 12,921 common shares being issued to employees of Park. On March 31, 2017, 9,674 of the PBRSUs granted in 2014 vested in full due to the level of achievement with respect to certain performance criteria and the satisfaction of the service-based vesting requirement. A total of 3,293 common shares were withheld to satisfy employee income tax withholding obligations. This resulted in a net amount of 6,381 common shares being issued to employees of Park. Share-based compensation expense of $0.9 million and $0.6 million was recognized for the three-month periods ended June 30, 2018 and 2017, respectively, and of $2.0 million and $1.4 million was recognized for the six-month periods ended June 30, 2018 and 2017, respectively. The following table details expected additional share-based compensation expense related to PBRSUs outstanding as of June 30, 2018:
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Benefit Plan |
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Defined Benefit Plan [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Pension Plan | Benefit Plans Park has a noncontributory defined benefit pension plan covering substantially all of its employees. The plan provides benefits based on an employee’s years of service and compensation. There were no pension plan contributions for the three-month and six-month periods ended June 30, 2018 and 2017. The following table shows the components of net periodic pension benefit income:
Park has entered into Supplemental Executive Retirement Plan Agreements (the “SERP Agreements”) with certain key officers of the Corporation and its subsidiaries which provide defined pension benefits in excess of limits imposed by federal tax law. The expense for the Corporation related to the SERP Agreements for the three months and six months ended June 30, 2018 and 2017 was as follows:
Previously, the net periodic benefit income/expense related to Park’s Pension and the expense related to the SERP Agreements had been recorded within the "Employee benefits" line item. During the first quarter of 2018, Park adopted ASU 2017-07, Compensation - Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement. This ASU requires that an employer report the service cost component in the same line item or items as other compensation costs arising from services rendered by the pertinent employees during the period. The other components of net benefit cost are required to be presented in the income statement separately from the service cost component. This ASU is required to be applied retrospectively to all periods presented. For all periods presented, this resulted in an increase in other income and an offsetting increase in other expense with no change to net income. As a practical expedient, Park used the amounts disclosed in "Note 12 - Pension Plan" of the Notes to Unaudited Consolidated Condensed Financial Statements, included under Item 1 of Part I of Park's Quarterly Report on Form 10-Q for the quarterly period ended June 30, 2017 as the estimation basis for applying the retrospective presentation requirements. The following table summarizes the impact of retrospective application of this ASU to the consolidated condensed statement of income for the three and six months ended June 30, 2017.
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Loan Servicing |
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Transfers and Servicing of Financial Assets [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Loan Servicing | Loan Servicing Park serviced sold mortgage loans of $1.38 billion at June 30, 2018, $1.37 billion at December 31, 2017 and $1.35 billion at June 30, 2017. At June 30, 2018, $2.6 million of the sold mortgage loans were sold with recourse, compared to $3.0 million at December 31, 2017 and $3.4 million at June 30, 2017. Management closely monitors the delinquency rates on the mortgage loans sold with recourse. At June 30, 2018 and December 31, 2017, management had established reserves of $43,000 and $270,000, respectively, to account for expected losses on loan repurchases. When Park sells mortgage loans with servicing rights retained, these servicing rights are initially recorded at fair value. Park selected the “amortization method” as permissible within U.S. GAAP, whereby the servicing rights capitalized are amortized in proportion to and over the period of estimated future servicing income with respect to the underlying loan. At the end of each reporting period, the carrying value of mortgage servicing rights (“MSRs”) is assessed for impairment with a comparison to fair value. MSRs are carried at the lower of their amortized cost or fair value. The amortization of MSRs is included within other service income in the consolidated condensed statements of income. Activity for MSRs and the related valuation allowance follows:
Servicing fees included in other service income were $0.9 million for each of the three months ended June 30, 2018 and 2017, and were $1.8 million for each of the six months ended June 30, 2018 and 2017. |
Fair Value |
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Fair Value Disclosures [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | Fair Value The fair value hierarchy requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The three levels of inputs that Park uses to measure fair value are as follows:
Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability (exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants at the balance sheet date. When possible, the Company looks to active and observable markets to price identical assets or liabilities. When identical assets and liabilities are not traded in active markets, the Company looks to observable market data for similar assets and liabilities. However, certain assets and liabilities are not traded in observable markets and Park must use other valuation methods to develop a fair value. The fair value of impaired loans is typically based on the fair value of the underlying collateral, which is estimated through third-party appraisals in accordance with Park's valuation requirements under its commercial and real estate loan policies. Assets and Liabilities Measured at Fair Value on a Recurring Basis: The following table presents assets and liabilities measured at fair value on a recurring basis:
There were no transfers between Level 1 and Level 2 during either of the three months ended June 30, 2018 or 2017. Management’s policy is to transfer assets or liabilities from one level to another when the methodology to obtain the fair value changes such that there are more or fewer unobservable inputs as of the end of the reporting period. The following methods and assumptions were used by the Company in determining the fair value of the financial assets and liabilities discussed above: Investment securities: Fair values for investment securities are based on quoted market prices, where available (Level 1). If quoted market prices are not available, fair values are based on quoted market prices of comparable instruments (Level 2). For securities where quoted prices or market prices of similar securities are not available, fair values are calculated using discounted cash flows (Level 3). Fair value swap: The fair value of the swap agreement entered into with the purchaser of the Visa Class B shares represents an internally developed estimate of the exposure based upon probability-weighted potential Visa litigation losses. Mortgage Interest Rate Lock Commitments (IRLCs): Mortgage IRLCs are based on current secondary market pricing and are classified as Level 2. Mortgage loans held for sale: Mortgage loans held for sale are carried at their fair value. Mortgage loans held for sale are estimated using security prices for similar product types and, therefore, are classified in Level 2. The table below presents a reconciliation of the beginning and ending balances of the Level 3 inputs for the three and six months ended June 30, 2018 and 2017, for financial instruments measured on a recurring basis and classified as Level 3: Level 3 Fair Value Measurements Three months ended June 30, 2018 and 2017
(1) Transfered from Level 3 to Level 1 as the result of a quoted market price becoming available. Level 3 Fair Value Measurements Six months ended June 30, 2018 and 2017
(1) Transfered from Level 3 to Level 1 as the result of a quoted market price becoming available. Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis: The following methods and assumptions were used by the Company in determining the fair value of assets and liabilities measured at fair value on a nonrecurring basis described below: Impaired Loans: At the time a loan is considered impaired, it is valued at the lower of cost or fair value. Collateral dependent impaired loans carried at fair value have been partially charged-off or receive specific allocations of the allowance for loan losses. For collateral dependent loans, fair value is generally based on real estate appraisals. These appraisals may utilize a single valuation approach or a combination of approaches including the comparable sales approach and the income approach. Adjustments are routinely made in the appraisal process by the independent appraisers to adjust for differences between the comparable sales and income data available. Such adjustments result in a Level 3 classification of the inputs for determining fair value. Collateral is then adjusted or discounted based on management’s historical knowledge, changes in market conditions from the time of the valuation, and management’s expertise and knowledge of the client and client’s business, resulting in a Level 3 fair value classification. Impaired loans are evaluated on a quarterly basis for additional impairment and adjusted accordingly. Additionally, updated independent valuations are obtained annually for all impaired loans in accordance with Company policy. Other Real Estate Owned ("OREO"): Assets acquired through or in lieu of loan foreclosure are initially recorded at fair value less costs to sell when acquired. The carrying value of OREO is not re-measured to fair value on a recurring basis, but is subject to fair value adjustments when the carrying value exceeds the fair value, less estimated selling costs. Fair value is based on recent real estate appraisals and is updated at least annually. These appraisals may utilize a single valuation approach or a combination of approaches including the comparable sales approach and the income approach. Adjustments are routinely made in the appraisal process by the independent appraisers to adjust for differences between the comparable sales and income data available. Such adjustments result in a Level 3 classification of the inputs for determining fair value. Appraisals for both collateral dependent impaired loans and OREO are performed by licensed appraisers. Appraisals are generally obtained to support the fair value of collateral. In general, there are three types of appraisals received by the Company: real estate appraisals, income approach appraisals, and lot development loan appraisals. These are discussed below:
MSRs: MSRs are carried at the lower of cost or fair value. MSRs do not trade in active, open markets with readily observable prices. For example, sales of MSRs do occur, but precise terms and conditions typically are not readily available. As such, management, with the assistance of a third-party specialist, determines fair value based on the discounted value of the future cash flows estimated to be received. Significant inputs include the discount rate and assumed prepayment speeds. The calculated fair value is then compared to market values where possible to ascertain the reasonableness of the valuation in relation to current market expectations for similar products. Accordingly, MSRs are classified as Level 2. The following tables present assets and liabilities measured at fair value on a nonrecurring basis. Collateral dependent impaired loans are carried at fair value if they have been charged down to fair value or if a specific valuation allowance has been established. A new cost basis is established at the time a property is initially recorded in OREO. OREO properties are carried at fair value if a devaluation has been taken to the property's value subsequent to the initial measurement.
The table below provides additional detail on those impaired loans which are recorded at fair value as well as the remaining impaired loan portfolio not included above. The remaining impaired loans consist of loans which are not collateral dependent as well as loans carried at cost as the fair value of the underlying collateral or the present value of expected future cash flows on each of the loans exceeded the book value for each respective credit.
The expense from credit adjustments related to impaired loans carried at fair value during the three months ended June 30, 2018 and 2017 was $0.2 million and $0.1 million, respectively. The expense from credit adjustments related to impaired loans carried at fair value during the six months ended June 30, 2018 and 2017 was $0.3 million and $0.5 million, respectively. MSRs totaled $10.1 million at June 30, 2018. Of this $10.1 million MSR carrying balance, $0.9 million was recorded at fair value and included a valuation allowance of $0.2 million. The remaining $9.2 million was recorded at cost, as the fair value of the MSRs exceeded cost at June 30, 2018. At December 31, 2017, MSRs totaled $9.7 million. Of this $9.7 million MSR carrying balance, $7.3 million was recorded at fair value and included a valuation allowance of $0.6 million. The remaining $2.4 million was recorded at cost, as the fair value exceeded cost at December 31, 2017. The income related to MSRs carried at fair value during the three months ended June 30, 2018 and 2017 was $77,000 and $41,000, respectively. The income related to MSRs carried at fair value during the six months ended June 30, 2018 and 2017 was $382,000 and $100,000, respectively. Total OREO held by Park at June 30, 2018 and December 31, 2017 was $5.7 million and $14.2 million, respectively. Approximately 75% and 46% of OREO held by Park at June 30, 2018 and December 31, 2017, respectively, was carried at fair value due to fair value adjustments made subsequent to the initial OREO measurement. At June 30, 2018 and December 31, 2017, OREO held at fair value, less estimated selling costs, amounted to $4.3 million and $6.5 million, respectively. The net expense related to OREO fair value adjustments was $114,000 and $272,000 for the three-month periods ended June 30, 2018 and 2017, respectively. The net expense related to OREO fair value adjustments was $321,000 and $345,000 for the six-month periods ended June 30, 2018 and 2017, respectively. The following tables present qualitative information about Level 3 fair value measurements for financial instruments measured at fair value on a nonrecurring basis at June 30, 2018 and December 31, 2017:
Assets Measured at Net Asset Value: The adoption of ASU 2016-01 on January 1, 2018 required Park to evaluate the accounting for equity investments, including those previously held at cost. Under the new guidance, Park determined that its portfolio of equity investments in limited partnerships which provide mezzanine funding ("Partnership Investments") should be valued using the net asset value ("NAV") practical expedient in accordance with ASC 820. The adoption of this guidance on January 1, 2018, resulted in a $1.2 million increase to Partnership Investments, which are included within other assets on the consolidated condensed balance sheet, and a $922,000 increase to beginning retained earnings. As of June 30, 2018 and December 31, 2017, Park had Partnerships Investments with a NAV of $9.4 million and $8.8 million, respectively. As of June 30, 2018 and December 31, 2017, Park had $7.1 million and $7.2 million in unfunded commitments related to these Partnership Investments. For the six months ended June 30, 2018, Park had recognized $752,000 in income related to these Partnership Investments. The fair value of certain financial instruments at June 30, 2018 and December 31, 2017, was as follows:
(1) Includes debt securities AFS and debt securities HTM. (2) Excludes FHLB and FRB stock which are carried at their respective redemption values. Additionally, excludes investment securities accounted for at modified cost, as these investments do not have a readily determinable fair value. (3) Fair value calculated using an exit price notion consistent with Topic 820, Fair Value Measurement.
(1) Includes debt securities AFS and debt securities HTM. (2) Excludes FHLB and FRB stock which are carried at their respective redemption values. Additionally, excludes investment securities carried at their cost basis as these investments do not have a readily determinable fair value. |
Other Comprehensive Income (Loss) Other Comprehensive Income (Loss) |
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Statement of Comprehensive Income [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Comprehensive Income (Loss) Note [Text Block] | Other Comprehensive Income (Loss) Accumulated other comprehensive income (loss) components, net of income tax, are shown in the following table for the three-month and six-month periods ended June 30, 2018 and 2017:
During the six-month period ended June 30, 2018, there was $2.6 million ($2.0 million net of tax) reclassified out of accumulated other comprehensive loss due to losses on the sale of AFS debt securities. These losses were recorded within net loss on sale of investment securities on the consolidated condensed statements of income. During the three-month periods ended June 30, 2018 and June 30, 2017 and the six-month period ended June 30, 2017, there were no reclassifications out of accumulated other comprehensive loss. |
Investment in Qualified Affordable Housing Investment in Qualified Affordable Housing |
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Equity Method Investments and Joint Ventures [Abstract] | |||||||||||||||||||||||||||||||||||||||||
Affordable Housing Program [Text Block] | Investment in Qualified Affordable Housing Park makes certain equity investments in various limited partnerships that sponsor affordable housing projects. The purposes of these investments are to achieve a satisfactory return on capital, help create affordable housing opportunities, and assist the Company to achieve its goals associated with the Community Reinvestment Act. The table below details the balances of Park’s affordable housing tax credit investments and related unfunded commitments as of June 30, 2018 and December 31, 2017.
Commitments are funded when capital calls are made by the general partner. Park expects that the current commitments will be funded between 2018 and 2027. During each of the three months ended June 30, 2018 and 2017, Park recognized amortization expense of $1.9 million and during each of the six months ended June 30, 2018 and 2017, Park recognized amortization expense of $3.7 million, which was included within the provision for income taxes. Additionally, during the three months ended June 30, 2018 and 2017, Park recognized tax credits and other benefits from its affordable housing tax credit investments of $2.2 million and $2.4 million, respectively, and during each of the the six months ended June 30, 2018 and 2017, Park recognized tax credits and other benefits from its affordable housing tax credit investments of $4.9 million. |
Repurchase Agreement Borrowings Repurchase Agreement Borrowings |
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Transfers and Servicing [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Repurchase Agreement Borrowings | Repurchase Agreement Borrowings Securities sold under agreements to repurchase ("repurchase agreements") with customers represent funds deposited by customers, generally on an overnight basis, that are collateralized by investment securities owned by Park. Repurchase agreements with customers are included in short-term borrowings on the consolidated condensed balance sheets. All repurchase agreements are subject to terms and conditions of repurchase/security agreements between Park and the client and are accounted for as secured borrowings. Park's repurchase agreements consisted of customer accounts and securities which are pledged on an individual security basis. At June 30, 2018 and December 31, 2017, Park's repurchase agreement borrowings totaled $165 million and $183 million, respectively. These borrowings were collateralized with U.S. government and agency securities with a carrying value of $198 million and $213 million at June 30, 2018 and December 31, 2017, respectively. Declines in the value of the collateral would require Park to pledge additional securities. As of June 30, 2018 and December 31, 2017, Park had $961 million and $975 million, respectively, of available unpledged securities. The table below shows the remaining contractual maturity of repurchase agreements by collateral pledged at June 30, 2018 and December 31, 2017:
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Contingent Liabilities Contingent Liabilities |
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Contingent Liabilities [Abstract] | |
Schedule of Loss Contingencies by Contingency [Table Text Block] | Contingent Liabilities The Company is a defendant in lawsuits and other adversary proceedings arising in the ordinary course of business. Legal costs incurred in connection with the resolution of claims and lawsuits are generally expensed as incurred, and the Company establishes accruals for the outcome of litigation where losses are deemed probable and reasonably estimable. The Company’s assessment of the current exposure could change in the event of the discovery of additional facts with respect to legal matters pending against the Company or determinations by judges, juries, administrative agencies or other finders of fact that are not in accordance with the Company’s evaluation of claims. As of June 30, 2017, the Company had accrued charges of approximately $2.3 million for legal contingencies related to various legal and other adversary proceedings. This amount was paid out in full settlement of the related litigation during the three months ended September 30, 2017. As of June 30, 2018, the Company had accrued charges of $20,000 for legal contingencies related to various legal and other adversary proceedings. |
Revenue from Contracts with Customers (Notes) |
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Disaggregation of Revenue [Table Text Block] | Revenue from Contracts with Customers The Company adopted ASC 606 using the modified retrospective method applied to all contracts not completed as of January 1, 2018. Results for reporting periods beginning on and after January 1, 2018 are presented under ASC 606 while prior period amounts continue to be reported in accordance with legacy GAAP. The adoption of ASC 606 did not result in a change to the accounting for any of the in-scope revenue streams; as such, no cumulative effect adjustment was recorded. All of Park's revenue from contracts with customers within the scope of ASC 606 is recognized within "Other income" in the Consolidated Condensed Statements of Income. The following table presents the Corporation's sources of other income by revenue stream and operating segment for the three-month and six-month periods ended June 30, 2018 and June 30, 2017.
(1) Of the $3.5 million of revenue included within "Other service income", approximately $2.4 million is within the scope of ASC 606, with the remaining $1.1 million consisting primarily of residential real estate loan fees which are out of scope. (2) Not within the scope of ASC 606. (3) "Miscellaneous" income includes brokerage income, safe deposit box rentals, and miscellaneous bank fees totaling $2.6 million, all of which are within the scope of ASC 606.
(1) Of the $3.5 million of revenue included within "Other service income", approximately $2.5 million is within the scope of ASC 606, with the remaining $1.0 million consisting primarily of residential real estate loan fees which are out of scope. (2) Not within the scope of ASC 606. (3) "Miscellaneous" income includes brokerage income, safe deposit box rentals, and miscellaneous bank fees totaling $1.1 million, all of which are within the scope of ASC 606. (4) The Corporation elected the modified retrospective approach of adoption; therefore, prior period balances are presented under legacy GAAP and may not be comparable to current year presentation.
(1) Of the $7.6 million of revenue included within "Other service income", approximately $5.5 million is within the scope of ASC 606, with the remaining $2.1 million consisting primarily of residential real estate loan fees which are out of scope. (2) Not within the scope of ASC 606. (3) "Miscellaneous" income includes brokerage income, safe deposit box rentals, and miscellaneous bank fees totaling $3.4 million, all of which are within the scope of ASC 606.
(1) Of the $6.3 million of revenue included within "Other service income", approximately $4.4 million is within the scope of ASC 606, with the remaining $1.9 million consisting primarily of residential real estate loan fees which are out of scope. (2) Not within the scope of ASC 606. (3) "Miscellaneous" income includes brokerage income, safe deposit box rentals, and miscellaneous bank fees totaling $1.7 million, all of which are within the scope of ASC 606. (4) The Corporation elected the modified retrospective approach of adoption; therefore, prior period balances are presented under legacy GAAP and may not be comparable to current year presentation. A description of Park's revenue streams accounted for under ASC 606 follows: Income from fiduciary activities (Gross): Park earns fiduciary fee income and investment brokerage fees from its contracts with trust customers for various fiduciary and investment-related services. These fees are earned over time as the Company provides the contracted monthly and quarterly services and are generally assessed based on the market value of the trust assets. Service charges on deposit accounts and ATM fees: The Corporation earns fees from its deposit customers for transaction-based, account maintenance, and overdraft services. Transaction-based fees, which include services such as ATM use fees, stop payment charges, statement rendering, and ACH fees, are recognized at the time the transaction is executed as that is the point in time the Corporation fulfills the customer's request. Account maintenance fees, which relate primarily to monthly maintenance, are generally recognized at the end of the month, representing the period over which the Corporation satisfies the performance obligation. Overdraft fees are recognized at the point in time that the overdraft occurs. Service charges on deposits are withdrawn from the customer's account balance. Other service income: Other service income includes income from 1) the sale and servicing of loans sold to the secondary market, 2) incentive income from third-party credit card issuers, and 3) loan customers for various loan-related activities and services. These fees are generally recognized at a point in time following the completion of a loan sale or related service activity. Checkcard fee income: Park earns interchange fees from debit cardholder transactions conducted primarily through the Visa payment network. Interchange fees from cardholder transactions represent a percentage of the underlying transaction value and are recognized daily, net of card network fees, concurrently with the transaction processing services provided to the cardholder. Gain on sale of OREO, net: The Corporation records a gain or loss from the sale of OREO when control of the property transfers to the buyer, which generally occurs at the time of an executed deed. When Park finances the sale of OREO to the buyer, the Corporation assesses whether the buyer is committed to perform the buyer's obligation under the contract and whether collectability of the transaction price is probable. Once these criteria are met, the OREO asset is derecognized and the gain or loss on sale is recorded upon the transfer of control of the property to the buyer. In determining the gain or loss on the sale, the Corporation adjusts the transaction price and related gain (loss) on sale if a significant financing component is present. |
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Disaggregation of Revenue [Table Text Block] |
(1) Of the $3.5 million of revenue included within "Other service income", approximately $2.4 million is within the scope of ASC 606, with the remaining $1.1 million consisting primarily of residential real estate loan fees which are out of scope. (2) Not within the scope of ASC 606. (3) "Miscellaneous" income includes brokerage income, safe deposit box rentals, and miscellaneous bank fees totaling $2.6 million, all of which are within the scope of ASC 606.
(1) Of the $3.5 million of revenue included within "Other service income", approximately $2.5 million is within the scope of ASC 606, with the remaining $1.0 million consisting primarily of residential real estate loan fees which are out of scope. (2) Not within the scope of ASC 606. (3) "Miscellaneous" income includes brokerage income, safe deposit box rentals, and miscellaneous bank fees totaling $1.1 million, all of which are within the scope of ASC 606. (4) The Corporation elected the modified retrospective approach of adoption; therefore, prior period balances are presented under legacy GAAP and may not be comparable to current year presentation.
(1) Of the $7.6 million of revenue included within "Other service income", approximately $5.5 million is within the scope of ASC 606, with the remaining $2.1 million consisting primarily of residential real estate loan fees which are out of scope. (2) Not within the scope of ASC 606. (3) "Miscellaneous" income includes brokerage income, safe deposit box rentals, and miscellaneous bank fees totaling $3.4 million, all of which are within the scope of ASC 606.
(1) Of the $6.3 million of revenue included within "Other service income", approximately $4.4 million is within the scope of ASC 606, with the remaining $1.9 million consisting primarily of residential real estate loan fees which are out of scope. (2) Not within the scope of ASC 606. (3) "Miscellaneous" income includes brokerage income, safe deposit box rentals, and miscellaneous bank fees totaling $1.7 million, all of which are within the scope of ASC 606. (4) The Corporation elected the modified retrospective approach of adoption; therefore, prior period balances are presented under legacy GAAP and may not be comparable to current year presentation. |
Subsequent events Subsequent events |
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Subsequent Event [Line Items] | |
Subsequent Events [Text Block] | Subsequent Events On July 1, 2018, NewDominion Bank, a North Carolina state-chartered bank (“NewDominion”), merged with and into PNB, with PNB continuing as the surviving entity pursuant to the Agreement and Plan of Merger and Reorganization, dated as of January 22, 2018, by and among Park, PNB, and NewDominion. As of June 30, 2018, NewDominion had approximately $329 million in total assets, $278 million in total loans, and $284 million in total deposits. The acquisition was valued at approximately $79 million and resulted in Park issuing approximately 435,457 Park common shares and paying approximately $31 million in cash in exchange for the NewDominion common stock as merger consideration. The assets and liabilities of NewDominion will be recorded on Park’s consolidated balance sheet at their preliminary estimated fair values as of July 1, 2018, the acquisition date, and NewDominion’s results of operations will be included in Park’s consolidated statement of income from that date. The initial accounting and determination of the fair values of the assets acquired and liabilities assumed in the acquisition was incomplete at the time of the filing of Park’s Quarterly Report on From 10-Q for the quarterly period ended June 30, 2018 (the “June 30, 2018 Form 10-Q”) due to the timing of the closing of the acquisition in relation to the deadline for the filing of Park’s June 30, 2018 Form 10-Q. A more complete disclosure of the business combination is expected to be reported in Park’s Quarterly Report on Form 10-Q for the quarterly period ending September 30, 2018. For the six months ended June 30, 2018, Park recorded merger-related expenses of $0.5 million associated with the NewDominion acquisition. |
Loans (Tables) |
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Composition Of Loan Portfolio By Class Of Loan | The composition of the loan portfolio, by class of loan, as of June 30, 2018 and December 31, 2017 was as follows:
* Included within each of commercial, financial and agricultural loans and commercial real estate loans is an immaterial amount of consumer loans that are not broken out by class. |
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Recorded Investment In Nonaccrual Restructured And Loans Past Due 90 Days Or More And Accruing | The following tables present the recorded investment in nonaccrual loans, accruing troubled debt restructurings ("TDRs"), and loans past due 90 days or more and still accruing by class of loan as of June 30, 2018 and December 31, 2017:
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Loans Individually And Collectively Evaluated For Impairment | The following table provides additional information regarding those nonaccrual loans and accruing TDR loans that were individually evaluated for impairment and those collectively evaluated for impairment, as of June 30, 2018 and December 31, 2017.
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Loans Individually Evaluated For Impairment By Class Of Loans | The following table presents loans individually evaluated for impairment by class of loan, together with the related allowance recorded, as of June 30, 2018 and December 31, 2017.
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Average Recorded Investment And Interest Income Recognized On Loans Individually Evaluated For Impairment | The following table presents the average recorded investment and interest income recognized subsequent to impairment on loans individually evaluated for impairment as of and for the three and six months ended June 30, 2018 and June 30, 2017:
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Aging Of Recorded Investment In Past Due Loans | The following tables present the aging of the recorded investment in past due loans as of June 30, 2018 and December 31, 2017 by class of loan.
(1) Includes $1.5 million of loans past due 90 days or more and accruing. The remaining loans were past due nonaccrual loans. (2) Includes $53.4 million of nonaccrual loans which were current in regards to contractual principal and interest payments.
(1) Includes $1.8 million of loans past due 90 days or more and accruing. The remaining loans were past due nonaccrual loans. (2) Includes $56.1 million of nonaccrual loans which were current in regards to contractual principal and interest payments. |
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Recorded Investment By Loan Grade | The tables below present the recorded investment by loan grade at June 30, 2018 and December 31, 2017 for all commercial loans:
* Included within each of commercial, financial and agricultural loans and commercial real estate loans is an immaterial amount of consumer loans that are not broken out by class.
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TDR Number Of Contracts Modified And Recorded Investment | The following tables detail the number of contracts modified as TDRs during the three-month periods ended June 30, 2018 and June 30, 2017, as well as the recorded investment of these contracts at June 30, 2018 and June 30, 2017. The recorded investment pre- and post-modification is generally the same due to the fact that Park does not typically forgive principal.
Of those loans which were modified and determined to be a TDR during the three-month period ended June 30, 2018, $5,000 were on nonaccrual status as of December 31, 2017. Of those loans which were modified and determined to be a TDR during the three-month period ended June 30, 2017, $175,000 were on nonaccrual status as of December 31, 2016.
Of those loans which were modified and determined to be a TDR during the six-month period ended June 30, 2018, $0.4 million were on nonaccrual status as of December 31, 2017. Of those loans which were modified and determined to be a TDR during the six-month period ended June 30, 2017, $2.8 million were on nonaccrual status as of December 31, 2016. |
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Recorded Investment In Financing Receivable Modified As TDR Within 12 Months | The following table presents the recorded investment in financing receivables which were modified as TDRs within the previous 12 months and for which there was a payment default during the three-month and six-month periods ended June 30, 2018 and June 30, 2017, respectively. For this table, a loan is considered to be in default when it becomes 30 days contractually past due under the modified terms. The additional allowance for loan loss resulting from the defaults on TDR loans was immaterial.
Of the $1.2 million in modified TDRs which defaulted during the three-month period ended June 30, 2018, $21,000 were accruing loans and $1.2 million were nonaccrual loans. Of the $2.1 million in modified TDRs which defaulted during the three-month period ended June 30, 2017, $13,000 were accruing loans and $2.1 million were nonaccrual loans.
Of the $1.4 million in modified TDRs which defaulted during the six-month period ended June 30, 2018, $21,000 were accruing loans and $1.4 million were nonaccrual loans. Of the $2.3 million in modified TDRs which defaulted during the six-month period ended June 30, 2017, $13,000 were accruing loans and $2.3 million were nonaccrual loans. |
Allowance For Loan Losses (Tables) |
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Allowance for Loan and Lease Losses Write-offs, Net [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Activity In The Allowance For Loan Losses | The activity in the allowance for loan losses for the three-month and six-month periods ended June 30, 2018 and June 30, 2017 is summarized in the following tables.
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Composition Of The Allowance For Loan Losses | The composition of the allowance for loan losses at June 30, 2018 and December 31, 2017 was as follows:
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Other Real Estate Owned Other Real Estate Owned (Tables) |
6 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2018 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Real Estate Owned [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Assets Repossessed or Foreclosed, or loans in process of foreclosure [Table Text Block] [Text Block] | Park typically transfers a loan to OREO at the time that Park takes deed/title to the asset. The carrying amounts of foreclosed properties held at June 30, 2018 and December 31, 2017 are listed below, as well as the recorded investment of loans secured by residential real estate properties for which formal foreclosure proceedings were in process at those dates.
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Earnings Per Common Share (Tables) |
6 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2018 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Earnings Per Share [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Summary Of Computation Of Basic And Diluted Earnings Per Common Share | The following table sets forth the computation of basic and diluted earnings per common share for the three and six months ended June 30, 2018 and 2017.
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Segment Information (Tables) |
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2018 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Segment Reporting [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Operating Results By Segment |
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Investment Securities (Tables) |
6 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2018 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investments, Debt and Equity Securities [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Investment Securities | Investment securities at June 30, 2018, were as follows:
Investment securities at December 31, 2017, were as follows:
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Schedule Of Unrealized Loss On Securities | Investment securities with unrealized/unrecognized losses at June 30, 2018, were as follows:
Investment securities with unrealized/unrecognized losses at December 31, 2017, were as follows:
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Amortized Cost And Estimated Fair Value Of Investments In Debt Securities By Contractual Maturity | The amortized cost and estimated fair value of investments in debt securities at June 30, 2018, are shown in the following table by contractual maturity, except for asset-backed securities, which are shown as a single total, due to the unpredictability of the timing of principal repayments.
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Other Investment Securities (Tables) |
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2018 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Investment Securities [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Other Investment Securities | The carrying amount of other investment securities at June 30, 2018 and December 31, 2017 was as follows:
(1) There have been no impairments, downward adjustments, or upward adjustments made to equity investments carried at modified cost. |
Share Based Compensation Share Based Compensation (Tables) |
6 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2018 | ||||||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Share-based Compensation, Restricted Stock Units Award Activity [Table Text Block] | A summary of changes in the common shares subject to nonvested PBRSUs for the six months ended June 30, 2018 follows:
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Schedule of Unrecognized Compensation Cost, Nonvested Awards [Table Text Block] | The following table details expected additional share-based compensation expense related to PBRSUs outstanding as of June 30, 2018:
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Benefit Plan (Tables) |
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2018 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Defined Benefit Plan [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of New Accounting Pronouncements and Changes in Accounting Principles [Table Text Block] | Adoption of New Accounting Pronouncements and Issued But Not Yet Effective Accounting Standards The following is a summary of new accounting pronouncements impacting Park's consolidated financial statements, and issued but not yet effective accounting standards: Adoption of New Accounting Pronouncements ASU 2014-09 - Revenue from Contracts with Customers (Topic 606): In May 2014, the Financial Accounting Standards Board ("FASB") issued ASU 2014-09, Revenue from Contracts with Customers (Topic 606). This ASU creates a new topic, Topic 606, to provide guidance on revenue recognition for entities that enter into contracts with customers to transfer goods or services or enter into contracts for the transfer of nonfinancial assets. The core principle of the guidance is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. Additional disclosures are required to provide quantitative and qualitative information regarding the nature, amount, timing, and uncertainty of revenue and cash flows arising from contracts with customers. The new guidance is effective for annual reporting periods, and interim reporting periods within those annual periods, beginning after December 15, 2017. The majority of the Company's revenues come from interest income and other sources, including loans, leases, securities and derivatives, that are outside the scope of ASC 606. Certain services that fall within the scope of ASC 606 are presented within Other Income and are recognized as revenue as the Company satisfies its obligation to the customer. Services within the scope of ASC 606 include income from fiduciary activities, service charges on deposit accounts, other service income, checkcard fee income, ATM fees, and gain on sale of OREO, net. The adoption of this guidance on January 1, 2018 did not have a material impact on Park's consolidated financial statements. However, the adoption of this standard resulted in additional disclosures beginning with the first quarter 2018 Form 10-Q. Reference Note 19, Revenue from Contracts with Customers, for further discussion on the Company's accounting policies for revenue sources within the scope of ASC 606. ASU 2016-01 - Financial Instruments - Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities. In January 2016, the FASB issued ASU 2016-01 - Financial Instruments - Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities. Changes reflected in the current U.S. GAAP model primarily affect the accounting for equity investments, financial liabilities under the fair value option, and the presentation and disclosure requirements for financial instruments. In addition, this ASU clarifies guidance related to the valuation allowance assessment when recognizing deferred tax assets resulting from unrealized losses on available-for-sale ("AFS") securities. The new guidance is effective for annual reporting periods and interim reporting periods within those annual periods, beginning after December 15, 2017. The adoption of this guidance on January 1, 2018 resulted in an $1.9 million increase to beginning retained earnings and a $995,000 increase to beginning accumulated other comprehensive loss. Additional income of $3.2 million and $1.3 million was recorded in the first and second quarters of 2018, respectively, as a result of changes to the accounting for equity investments. Further, beginning with the first quarter of 2018, Park's fair value disclosures in Note 14, Fair Value, have incorporated the revised disclosure requirements for financial investments. ASU 2016-15 - Statement of Cash Flows (Topic 203): Classification of Certain Cash Receipts and Cash Payments (a consensus of the Emerging Issues Task Force): In August 2016, the FASB issued ASU 2016-15, Statement of Cash Flows (Topic 203): Classification of Certain Cash Receipts and Cash Payments (a consensus of the Emerging Issues Task Force). This ASU provides guidance on eight specific cash flow issues where then current GAAP was either unclear or did not include specific guidance. The new guidance is effective for annual reporting periods, and interim reporting periods within those annual periods, beginning after December 15, 2017. The adoption of this guidance on January 1, 2018 did not have an impact on Park's consolidated financial statements. As such transactions arise, management will utilize the updated guidance in providing disclosures within Park’s consolidated condensed statements of cash flows. ASU 2017-07 - Compensation - Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost: In March 2017, the FASB issued ASU 2017-07 - Compensation - Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost. This ASU requires that an employer report the service cost component in the same line item or items as other compensation costs arising from services rendered by the pertinent employees during the period. The other components of net benefit cost are required to be presented in the income statement separately from the service cost component. The new guidance is effective for annual reporting periods, and interim reporting periods within those annual periods, beginning after December 15, 2017. As a result of the adoption of this guidance on January 1, 2018, all prior periods have been recast to separately record the service cost component and other components of net benefit cost. For all periods presented, this resulted in an increase in other income and an offsetting increase in other expense with no change to net income. See Note 12, Benefit Plans, for further details. ASU 2017-09 - Compensation - Stock Compensation (Topic 718): Scope of Modification Accounting: In May 2017, the FASB issued ASU 2017-09 - Compensation - Stock Compensation (Topic 718): Scope of Modification Accounting. This ASU amends the guidance concerning which changes to the terms or conditions of a share-based payment award require an entity to apply modification accounting under Topic 718. The new guidance is effective for annual reporting periods, and interim reporting periods within those annual periods, beginning after December 15, 2017. The adoption of this guidance on January 1, 2018 did not impact Park's consolidated financial statements. ASU 2017-12 - Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities: In August 2017, the FASB issued ASU 2017-12 - Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities. This ASU amends the current guidance with the objective of improving the financial reporting of hedging relationships to better portray the economic results of an entity's risk management activities in its financial statements. In addition, this ASU amends the current guidance to simplify the application of the hedge accounting guidance. The new guidance is effective for annual reporting periods, and interim reporting periods within those annual periods, beginning after December 15, 2018. Early adoption is permitted for interim or annual periods. The early adoption of this guidance on July 1, 2018 did not have an impact on Park's consolidated financial statements. Park will apply this guidance to future transactions. ASU 2018-02 - Income Statement - Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income: In February 2018, the FASB issued ASU 2018-02 - Income Statement - Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income. This ASU allows a reclassification from accumulated other comprehensive income to retained earnings for stranded tax effects, resulting from the newly - enacted federal corporate income tax rate. The amount of the reclassification is the difference between the historical federal corporate income tax rate and the newly-enacted 21% federal corporate income tax rate. The guidance is effective for annual reporting periods, and interim reporting periods within those annual periods, beginning after December 15, 2018. Early adoption is permitted for interim or annual periods. The early adoption of this guidance effective January 1, 2018 resulted in a $3.8 million increase to Park's accumulated other comprehensive loss and a $3.8 million increase to retained earnings. ASU 2018-03 - Technical Corrections and Improvements to Financial Instruments - Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities. In February 2018, the FASB issued ASU 2018-03 - Technical Corrections and Improvements to Financial Instruments - Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities. This ASU includes amendments that clarify certain aspects of the guidance issued in ASU 2016-01. Park considered this clarification in determining the appropriate adoption of ASU 2016-01 effective as of January 1, 2018. Issued But Not Yet Effective Accounting Standards ASU 2016-02 - Leases (Topic 842): In February 2016, the FASB issued ASU 2016-02 - Leases (Topic 842). This ASU will require all organizations that lease assets to recognize on the balance sheet the assets and liabilities for the rights and obligations created by those leases. Additional qualitative and quantitative disclosures will be required so that users can understand more about the nature of an entity’s leasing activities. The new guidance is effective for annual reporting periods and interim reporting periods within those annual periods, beginning after December 15, 2018. Early adoption is permitted. Management is currently analyzing data on leased assets. The adoption of this guidance is expected to increase both assets and liabilities, but is not expected to have a material impact on Park's consolidated statement of income. ASU 2016-13 - Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments: In June 2016, FASB issued ASU 2016-13 - Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments. The new guidance replaces the incurred loss model with an expected loss model, which is referred to as the current expected credit loss ("CECL") model. The CECL model is applicable to the measurement of credit losses on financial assets measured at amortized cost, including loan receivables, held-to-maturity ("HTM") debt securities, and reinsurance receivables. It also applies to off-balance sheet credit exposures not accounted for as insurance (loan commitments, standby letters of credit, financial guarantees, and other similar instruments) and net investments in leases recognized by a lessor. The CECL model requires an entity to estimate credit losses over the life of an asset or off-balance sheet exposure. The new guidance is effective for annual reporting periods and interim reporting periods within those annual periods, beginning after December 15, 2019. Early adoption is permitted for annual reporting periods and interim reporting periods within those annual periods, beginning after December 15, 2018. Management is currently evaluating the impact of the adoption of this guidance on Park's consolidated financial statements. We anticipate that the adoption of the CECL model will result in a material increase to Park's allowance for loan losses. Management has established a committee to oversee the implementation of the CECL model and is currently in the process of implementing a software solution to assist in implementing the adoption of this ASU. Management plans to run our current allowance model and a CECL model concurrently for 12 months prior to the adoption of this guidance on January 1, 2020. ASU 2017-08 - Receivables - Nonrefundable Fees and Other Costs (Subtopic 310-20): Premium Amortization on Purchased Callable Debt Securities: In March 2017, the FASB issued ASU 2017-08 - Receivables - Nonrefundable Fees and Other Costs (Subtopic 310-20): Premium Amortization on Purchased Callable Debt Securities. This ASU amends the amortization period for certain purchased callable debt securities held at a premium. It shortens the amortization period for the premium to the earliest call date. Under current U.S. GAAP, premiums on callable debt securities generally are amortized to the maturity date. The new guidance is effective for annual reporting periods, and interim reporting periods within those annual periods, beginning after December 15, 2018. Early adoption is permitted for interim or annual periods. The adoption of this guidance is not expected to have a material impact on Park's consolidated financial statements. The following table summarizes the impact of retrospective application of this ASU to the consolidated condensed statement of income for the three and six months ended June 30, 2017.
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Components Of Net Periodic Benefit Expense | The following table shows the components of net periodic pension benefit income:
Park has entered into Supplemental Executive Retirement Plan Agreements (the “SERP Agreements”) with certain key officers of the Corporation and its subsidiaries which provide defined pension benefits in excess of limits imposed by federal tax law. The expense for the Corporation related to the SERP Agreements for the three months and six months ended June 30, 2018 and 2017 was as follows:
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Loan Servicing (Tables) |
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Transfers and Servicing of Financial Assets [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Activity For MSRs And Related Valuation Allowance | Activity for MSRs and the related valuation allowance follows:
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Fair Value (Tables) |
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Fair Value Disclosures [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Assets And Liabilities Measured At Fair Value On A Recurring Basis | The following table presents assets and liabilities measured at fair value on a recurring basis:
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Reconciliation Of Level 3 Input For Financial Instruments Measured On Recurring Basis | The table below presents a reconciliation of the beginning and ending balances of the Level 3 inputs for the three and six months ended June 30, 2018 and 2017, for financial instruments measured on a recurring basis and classified as Level 3: Level 3 Fair Value Measurements Three months ended June 30, 2018 and 2017
(1) Transfered from Level 3 to Level 1 as the result of a quoted market price becoming available. Level 3 Fair Value Measurements Six months ended June 30, 2018 and 2017
(1) Transfered from Level 3 to Level 1 as the result of a quoted market price becoming available. |
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Assets And Liabilities Measured At Fair Value On A Nonrecurring Basis | The following tables present assets and liabilities measured at fair value on a nonrecurring basis. Collateral dependent impaired loans are carried at fair value if they have been charged down to fair value or if a specific valuation allowance has been established. A new cost basis is established at the time a property is initially recorded in OREO. OREO properties are carried at fair value if a devaluation has been taken to the property's value subsequent to the initial measurement.
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Schedule of Impaired Financing Receivables Additional Information [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of impaired financing receivables additional info [Abstract] | The table below provides additional detail on those impaired loans which are recorded at fair value as well as the remaining impaired loan portfolio not included above. The remaining impaired loans consist of loans which are not collateral dependent as well as loans carried at cost as the fair value of the underlying collateral or the present value of expected future cash flows on each of the loans exceeded the book value for each respective credit.
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Qualitative Information about Level 3 Fair Value Measurements Measured on Non-Recurring Basis | The following tables present qualitative information about Level 3 fair value measurements for financial instruments measured at fair value on a nonrecurring basis at June 30, 2018 and December 31, 2017:
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Fair Value, by Balance Sheet Grouping | The fair value of certain financial instruments at June 30, 2018 and December 31, 2017, was as follows:
(1) Includes debt securities AFS and debt securities HTM. (2) Excludes FHLB and FRB stock which are carried at their respective redemption values. Additionally, excludes investment securities accounted for at modified cost, as these investments do not have a readily determinable fair value. (3) Fair value calculated using an exit price notion consistent with Topic 820, Fair Value Measurement.
(1) Includes debt securities AFS and debt securities HTM. (2) Excludes FHLB and FRB stock which are carried at their respective redemption values. Additionally, excludes investment securities carried at their cost basis as these investments do not have a readily determinable fair value. |
Other Comprehensive Income (Loss) Other Comprehensive Income (Loss) Net of Tax (Tables) |
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Statement of Comprehensive Income [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Comprehensive Income (Loss) [Table Text Block] | ther comprehensive income (loss) components, net of income tax, are shown in the following table for the three-month and six-month periods ended June 30, 2018 and 2017:
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Investment in Qualified Affordable Housing Investment in Qualified Affordable Housing (Tables) |
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2018 | |||||||||||||||||||||||||||||||||||||||||
Schedule of Equity Method Investments [Line Items] | |||||||||||||||||||||||||||||||||||||||||
Activity in Affordable Housing Program Obligation [Table Text Block] | The table below details the balances of Park’s affordable housing tax credit investments and related unfunded commitments as of June 30, 2018 and December 31, 2017.
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Repurchase Agreement Borrowings Repurchase Agreement Borrowings (Tables) |
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Transfers and Servicing [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Assets and Associated Liabilities Accounted for as Secured Borrowings [Table Text Block] | The table below shows the remaining contractual maturity of repurchase agreements by collateral pledged at June 30, 2018 and December 31, 2017:
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Revenue from Contracts with Customers (Tables) |
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Disaggregation of Revenue [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Revenue from Contract with Customer [Text Block] |
(1) Of the $3.5 million of revenue included within "Other service income", approximately $2.4 million is within the scope of ASC 606, with the remaining $1.1 million consisting primarily of residential real estate loan fees which are out of scope. (2) Not within the scope of ASC 606. (3) "Miscellaneous" income includes brokerage income, safe deposit box rentals, and miscellaneous bank fees totaling $2.6 million, all of which are within the scope of ASC 606.
(1) Of the $3.5 million of revenue included within "Other service income", approximately $2.5 million is within the scope of ASC 606, with the remaining $1.0 million consisting primarily of residential real estate loan fees which are out of scope. (2) Not within the scope of ASC 606. (3) "Miscellaneous" income includes brokerage income, safe deposit box rentals, and miscellaneous bank fees totaling $1.1 million, all of which are within the scope of ASC 606. (4) The Corporation elected the modified retrospective approach of adoption; therefore, prior period balances are presented under legacy GAAP and may not be comparable to current year presentation.
(1) Of the $7.6 million of revenue included within "Other service income", approximately $5.5 million is within the scope of ASC 606, with the remaining $2.1 million consisting primarily of residential real estate loan fees which are out of scope. (2) Not within the scope of ASC 606. (3) "Miscellaneous" income includes brokerage income, safe deposit box rentals, and miscellaneous bank fees totaling $3.4 million, all of which are within the scope of ASC 606.
(1) Of the $6.3 million of revenue included within "Other service income", approximately $4.4 million is within the scope of ASC 606, with the remaining $1.9 million consisting primarily of residential real estate loan fees which are out of scope. (2) Not within the scope of ASC 606. (3) "Miscellaneous" income includes brokerage income, safe deposit box rentals, and miscellaneous bank fees totaling $1.7 million, all of which are within the scope of ASC 606. (4) The Corporation elected the modified retrospective approach of adoption; therefore, prior period balances are presented under legacy GAAP and may not be comparable to current year presentation. |
Loans (Recorded Investment In Nonaccrual Restructured And Loans Past Due 90 Days Or More And Accruing) (Details) - USD ($) $ in Thousands |
3 Months Ended | 6 Months Ended | |||
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Jun. 30, 2018 |
Jun. 30, 2017 |
Jun. 30, 2018 |
Jun. 30, 2017 |
Dec. 31, 2017 |
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Financing Receivable, Recorded Investment [Line Items] | |||||
Impaired Financing Receivable, Recorded Investment | $ 61,750 | $ 73,144 | $ 61,750 | $ 73,144 | $ 56,564 |
Nonaccrual loans | 81,124 | 81,124 | 72,056 | ||
Accruing restructured loans | 16,400 | 16,400 | 20,177 | ||
Loans past due 90 days or more and accruing | 1,478 | 1,478 | 1,845 | ||
Total nonperforming loans | 99,002 | 99,002 | 94,078 | ||
Impaired Financing Receivable, Average Recorded Investment | 52,511 | 67,672 | 51,883 | 67,479 | |
Impaired Financing Receivable, Interest Income, Cash Basis Method | 386 | 437 | 807 | 1,248 | |
Commercial Financial And Agricultural [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Impaired Financing Receivable, Recorded Investment | 29,943 | 28,475 | 29,943 | 28,475 | |
Nonaccrual loans | 29,847 | 29,847 | 16,773 | ||
Accruing restructured loans | 187 | 187 | 1,291 | ||
Loans past due 90 days or more and accruing | 6 | 6 | |||
Total nonperforming loans | 30,040 | 30,040 | 18,064 | ||
Impaired Financing Receivable, Average Recorded Investment | 27,637 | 23,320 | 23,402 | 21,789 | |
Impaired Financing Receivable, Interest Income, Cash Basis Method | 145 | 120 | 319 | 340 | |
Construction Real Estate Commercial [Domain] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Impaired Financing Receivable, Recorded Investment | 2,529 | 1,636 | 2,529 | 1,636 | |
Nonaccrual loans | 2,187 | 2,187 | 986 | ||
Accruing restructured loans | 342 | 342 | 338 | ||
Loans past due 90 days or more and accruing | 0 | 0 | 0 | ||
Total nonperforming loans | 2,529 | 2,529 | 1,324 | ||
Impaired Financing Receivable, Average Recorded Investment | 1,510 | 1,843 | 1,451 | 1,960 | |
Impaired Financing Receivable, Interest Income, Cash Basis Method | 13 | 16 | 27 | 31 | |
Construction Real Estate - Mortgage [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Nonaccrual loans | 0 | 0 | 8 | ||
Accruing restructured loans | 16 | 16 | 92 | ||
Loans past due 90 days or more and accruing | 0 | 0 | 0 | ||
Total nonperforming loans | 16 | 16 | 100 | ||
Construction Real Estate - Installment [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Nonaccrual loans | 42 | 42 | 52 | ||
Accruing restructured loans | 15 | 15 | 0 | ||
Loans past due 90 days or more and accruing | 0 | 0 | 0 | ||
Total nonperforming loans | 57 | 57 | 52 | ||
Residential Real Estate - Commercial [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Impaired Financing Receivable, Recorded Investment | 2,750 | 21,235 | 2,750 | 21,235 | |
Nonaccrual loans | 2,531 | 2,531 | 18,835 | ||
Accruing restructured loans | 219 | 219 | 224 | ||
Loans past due 90 days or more and accruing | 0 | 0 | |||
Total nonperforming loans | 2,750 | 2,750 | 19,059 | ||
Impaired Financing Receivable, Average Recorded Investment | 2,653 | 20,732 | 7,511 | 21,220 | |
Impaired Financing Receivable, Interest Income, Cash Basis Method | 27 | 61 | 58 | 406 | |
Residential Real Estate - Mortgage [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Nonaccrual loans | 17,508 | 17,508 | 16,841 | ||
Accruing restructured loans | 9,644 | 9,644 | 10,766 | ||
Loans past due 90 days or more and accruing | 399 | 399 | 568 | ||
Total nonperforming loans | 27,551 | 27,551 | 28,175 | ||
Residential Real Estate - HELOC [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Nonaccrual loans | 1,772 | 1,772 | 1,593 | ||
Accruing restructured loans | 1,230 | 1,230 | 1,025 | ||
Loans past due 90 days or more and accruing | 60 | 60 | 14 | ||
Total nonperforming loans | 3,062 | 3,062 | 2,632 | ||
Residential Real Estate - Installment [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Nonaccrual loans | 464 | 464 | 586 | ||
Accruing restructured loans | 808 | 808 | 616 | ||
Loans past due 90 days or more and accruing | 103 | 103 | 7 | ||
Total nonperforming loans | 1,375 | 1,375 | 1,209 | ||
Commercial Real Estate [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Impaired Financing Receivable, Recorded Investment | 26,528 | 21,790 | 26,528 | 21,790 | |
Nonaccrual loans | 23,313 | 23,313 | 12,979 | ||
Accruing restructured loans | 3,215 | 3,215 | 5,163 | ||
Loans past due 90 days or more and accruing | 0 | 0 | |||
Total nonperforming loans | 26,528 | 26,528 | 18,142 | ||
Impaired Financing Receivable, Average Recorded Investment | 20,711 | 21,768 | 19,519 | 22,504 | |
Impaired Financing Receivable, Interest Income, Cash Basis Method | 201 | 240 | 403 | 471 | |
Consumer [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Impaired Financing Receivable, Recorded Investment | 8 | 8 | |||
Nonaccrual loans | 3,460 | 3,460 | 3,403 | ||
Accruing restructured loans | 724 | 724 | 662 | ||
Loans past due 90 days or more and accruing | 910 | 910 | 1,256 | ||
Total nonperforming loans | $ 5,094 | $ 5,094 | $ 5,321 | ||
Impaired Financing Receivable, Average Recorded Investment | $ 9 | $ 6 |
Loans (Loans Individually And Collectively Evaluated For Impairment) (Details) - USD ($) $ in Thousands |
6 Months Ended | 12 Months Ended |
---|---|---|
Jun. 30, 2018 |
Dec. 31, 2017 |
|
Financing Receivable, Impaired [Line Items] | ||
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | $ 1,396 | $ 684 |
Nonaccrual and accruing restructured loans | 97,524 | 92,233 |
Nonaccrual and accruing restructured loans, loans individually evaluated for impairment | 61,750 | 56,564 |
Nonaccrual and accruing restructured loans, loans collectively evaluated for impairment | 35,774 | 35,669 |
Partial Charge-Offs On Impaired Loans | 11,384 | 10,040 |
Commercial Financial And Agricultural [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Nonaccrual and accruing restructured loans | 30,034 | 18,064 |
Nonaccrual and accruing restructured loans, loans individually evaluated for impairment | 29,943 | 18,039 |
Nonaccrual and accruing restructured loans, loans collectively evaluated for impairment | 91 | 25 |
Construction Real Estate Commercial [Domain] | ||
Financing Receivable, Impaired [Line Items] | ||
Nonaccrual and accruing restructured loans | 2,529 | 1,324 |
Nonaccrual and accruing restructured loans, loans individually evaluated for impairment | 2,529 | 1,324 |
Nonaccrual and accruing restructured loans, loans collectively evaluated for impairment | 0 | 0 |
Construction Real Estate - Mortgage [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Nonaccrual and accruing restructured loans | 16 | 100 |
Nonaccrual and accruing restructured loans, loans individually evaluated for impairment | 0 | 0 |
Nonaccrual and accruing restructured loans, loans collectively evaluated for impairment | 16 | 100 |
Construction Real Estate - Installment [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Nonaccrual and accruing restructured loans | 57 | 52 |
Nonaccrual and accruing restructured loans, loans individually evaluated for impairment | 0 | 0 |
Nonaccrual and accruing restructured loans, loans collectively evaluated for impairment | 57 | 52 |
Residential Real Estate - Commercial [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Nonaccrual and accruing restructured loans | 2,750 | 19,059 |
Nonaccrual and accruing restructured loans, loans individually evaluated for impairment | 2,750 | 19,059 |
Nonaccrual and accruing restructured loans, loans collectively evaluated for impairment | 0 | 0 |
Residential Real Estate - Mortgage [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Nonaccrual and accruing restructured loans | 27,152 | 27,607 |
Nonaccrual and accruing restructured loans, loans individually evaluated for impairment | 0 | 0 |
Nonaccrual and accruing restructured loans, loans collectively evaluated for impairment | 27,152 | 27,607 |
Residential Real Estate - HELOC [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Nonaccrual and accruing restructured loans | 3,002 | 2,618 |
Nonaccrual and accruing restructured loans, loans individually evaluated for impairment | 0 | 0 |
Nonaccrual and accruing restructured loans, loans collectively evaluated for impairment | 3,002 | 2,618 |
Residential Real Estate - Installment [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Nonaccrual and accruing restructured loans | 1,272 | 1,202 |
Nonaccrual and accruing restructured loans, loans individually evaluated for impairment | 0 | 0 |
Nonaccrual and accruing restructured loans, loans collectively evaluated for impairment | 1,272 | 1,202 |
Commercial Real Estate [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | 27 | 2 |
Nonaccrual and accruing restructured loans | 26,528 | 18,142 |
Nonaccrual and accruing restructured loans, loans individually evaluated for impairment | 26,528 | 18,142 |
Nonaccrual and accruing restructured loans, loans collectively evaluated for impairment | 0 | 0 |
Consumer [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | 0 | 0 |
Nonaccrual and accruing restructured loans | 4,184 | 4,065 |
Nonaccrual and accruing restructured loans, loans collectively evaluated for impairment | 4,184 | 4,065 |
Financing Receivable With No Related Allowance Recorded [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Partial Charge-Offs On Impaired Loans | $ 9,200 | $ 7,900 |
Loans (Loans Individually Evaluated For Impairment By Class Of Loans) (Details) - USD ($) $ in Thousands |
3 Months Ended | 6 Months Ended | |||
---|---|---|---|---|---|
Jun. 30, 2018 |
Jun. 30, 2017 |
Jun. 30, 2018 |
Jun. 30, 2017 |
Dec. 31, 2017 |
|
Financing Receivable, Impaired [Line Items] | |||||
Unpaid principal balance | $ 70,991 | $ 70,991 | $ 66,585 | ||
Recorded investment | 61,750 | $ 73,144 | 61,750 | $ 73,144 | 56,564 |
Allowance for loan losses allocated | 1,396 | 1,396 | 684 | ||
Impaired Financing Receivable, Average Recorded Investment | 52,511 | 67,672 | 51,883 | 67,479 | |
Impaired Financing Receivable, Interest Income, Cash Basis Method | 386 | 437 | 807 | 1,248 | |
Commercial Financial And Agricultural [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Recorded investment | 29,943 | 28,475 | 29,943 | 28,475 | |
Impaired Financing Receivable, Average Recorded Investment | 27,637 | 23,320 | 23,402 | 21,789 | |
Impaired Financing Receivable, Interest Income, Cash Basis Method | 145 | 120 | 319 | 340 | |
Commercial Financial And Agricultural [Member] | Financing Receivable With No Related Allowance Recorded [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Unpaid principal balance | 29,897 | 29,897 | 19,899 | ||
Recorded investment | 26,740 | 26,740 | 14,704 | ||
Allowance for loan losses allocated | 0 | 0 | 0 | ||
Commercial Financial And Agricultural [Member] | Financing Receivable With A Related Allowance Recorded [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Unpaid principal balance | 5,256 | 5,256 | 5,394 | ||
Recorded investment | 3,203 | 3,203 | 3,335 | ||
Allowance for loan losses allocated | 1,366 | 1,366 | 681 | ||
Construction Real Estate Commercial [Domain] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Recorded investment | 2,529 | 1,636 | 2,529 | 1,636 | |
Impaired Financing Receivable, Average Recorded Investment | 1,510 | 1,843 | 1,451 | 1,960 | |
Impaired Financing Receivable, Interest Income, Cash Basis Method | 13 | 16 | 27 | 31 | |
Construction Real Estate Commercial [Domain] | Financing Receivable With No Related Allowance Recorded [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Unpaid principal balance | 5,342 | 5,342 | 2,788 | ||
Recorded investment | 2,529 | 2,529 | 1,324 | ||
Allowance for loan losses allocated | 0 | 0 | 0 | ||
Residential Real Estate - Commercial [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Recorded investment | 2,750 | 21,235 | 2,750 | 21,235 | |
Impaired Financing Receivable, Average Recorded Investment | 2,653 | 20,732 | 7,511 | 21,220 | |
Impaired Financing Receivable, Interest Income, Cash Basis Method | 27 | 61 | 58 | 406 | |
Residential Real Estate - Commercial [Member] | Financing Receivable With No Related Allowance Recorded [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Unpaid principal balance | 3,080 | 3,080 | 19,346 | ||
Recorded investment | 2,717 | 2,717 | 19,012 | ||
Allowance for loan losses allocated | 0 | 0 | 0 | ||
Residential Real Estate - Commercial [Member] | Financing Receivable With A Related Allowance Recorded [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Unpaid principal balance | 33 | 33 | 47 | ||
Recorded investment | 33 | 33 | 47 | ||
Allowance for loan losses allocated | 3 | 3 | 1 | ||
Commercial Real Estate [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Recorded investment | 26,528 | 21,790 | 26,528 | 21,790 | |
Impaired Financing Receivable, Average Recorded Investment | 20,711 | 21,768 | 19,519 | 22,504 | |
Impaired Financing Receivable, Interest Income, Cash Basis Method | 201 | 240 | 403 | 471 | |
Commercial Real Estate [Member] | Financing Receivable With No Related Allowance Recorded [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Unpaid principal balance | 25,145 | 25,145 | 18,974 | ||
Recorded investment | 24,469 | 24,469 | 18,060 | ||
Allowance for loan losses allocated | 0 | 0 | 0 | ||
Commercial Real Estate [Member] | Financing Receivable With A Related Allowance Recorded [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Unpaid principal balance | 2,238 | 2,238 | 137 | ||
Recorded investment | 2,059 | 2,059 | 82 | ||
Allowance for loan losses allocated | $ 27 | $ 27 | $ 2 | ||
Consumer [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Recorded investment | 8 | 8 | |||
Impaired Financing Receivable, Average Recorded Investment | $ 9 | $ 6 |
Loans (Average Recorded Investment And Interest Income Recognized On Loans Individually Evaluated For Impairment) (Details) - USD ($) $ in Thousands |
3 Months Ended | 6 Months Ended | |||
---|---|---|---|---|---|
Jun. 30, 2018 |
Jun. 30, 2017 |
Jun. 30, 2018 |
Jun. 30, 2017 |
Dec. 31, 2017 |
|
Financing Receivable, Impaired [Line Items] | |||||
Recorded investment | $ 61,750 | $ 73,144 | $ 61,750 | $ 73,144 | $ 56,564 |
Average recorded investment | 52,511 | 67,672 | 51,883 | 67,479 | |
Interest income recognized | 386 | 437 | 807 | 1,248 | |
Commercial Financial And Agricultural [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Recorded investment | 29,943 | 28,475 | 29,943 | 28,475 | |
Average recorded investment | 27,637 | 23,320 | 23,402 | 21,789 | |
Interest income recognized | 145 | 120 | 319 | 340 | |
Construction Real Estate Commercial [Domain] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Recorded investment | 2,529 | 1,636 | 2,529 | 1,636 | |
Average recorded investment | 1,510 | 1,843 | 1,451 | 1,960 | |
Interest income recognized | 13 | 16 | 27 | 31 | |
Residential Real Estate - Commercial [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Recorded investment | 2,750 | 21,235 | 2,750 | 21,235 | |
Average recorded investment | 2,653 | 20,732 | 7,511 | 21,220 | |
Interest income recognized | 27 | 61 | 58 | 406 | |
Commercial Real Estate [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Recorded investment | 26,528 | 21,790 | 26,528 | 21,790 | |
Average recorded investment | 20,711 | 21,768 | 19,519 | 22,504 | |
Interest income recognized | $ 201 | 240 | $ 403 | 471 | |
Consumer [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Recorded investment | 8 | 8 | |||
Average recorded investment | $ 9 | $ 6 |
Loans (Aging Of Recorded Investment In Past Due Loans) (Details) - USD ($) $ in Thousands |
3 Months Ended | 6 Months Ended | |||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Jun. 30, 2018 |
Jun. 30, 2017 |
Jun. 30, 2018 |
Jun. 30, 2017 |
Dec. 31, 2017 |
|||||||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||||||||||||
Accruing loans past due 30-89 days | $ 26,729 | $ 26,729 | $ 25,241 | ||||||||||||
Past due nonaccrual loans and loans past due 90 days or more and accruing | 29,158 | [1] | 29,158 | [1] | 17,776 | [2] | |||||||||
Total loans past due | 55,887 | 55,887 | 43,017 | ||||||||||||
Total current | 5,285,668 | 5,285,668 | 5,346,125 | ||||||||||||
Recorded Investment | 5,341,555 | 5,341,555 | 5,389,142 | ||||||||||||
Loans past due 90 days or more and accruing | 1,478 | 1,478 | 1,845 | ||||||||||||
Impaired Financing Receivable, Recorded Investment, Nonaccrual loans which are current in regards to contractual P&I payments | 53,400 | 53,400 | 56,100 | ||||||||||||
Financing Receivable, Modifications, Recorded Investment, During Period | 2,374 | $ 3,036 | 3,767 | $ 7,569 | |||||||||||
Construction Real Estate Commercial [Domain] | |||||||||||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||||||||||||
Accruing loans past due 30-89 days | 41 | 41 | 29 | ||||||||||||
Past due nonaccrual loans and loans past due 90 days or more and accruing | [1] | 1,821 | 1,821 | ||||||||||||
Total loans past due | 1,862 | 1,862 | 29 | ||||||||||||
Total current | 134,619 | 134,619 | 125,761 | ||||||||||||
Recorded Investment | 136,481 | 136,481 | 125,790 | ||||||||||||
Loans past due 90 days or more and accruing | 0 | 0 | 0 | ||||||||||||
Commercial Financial And Agricultural [Member] | |||||||||||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||||||||||||
Accruing loans past due 30-89 days | 3,556 | 3,556 | 145 | ||||||||||||
Past due nonaccrual loans and loans past due 90 days or more and accruing | 12,913 | [1] | 12,913 | [1] | 1,043 | [2] | |||||||||
Total loans past due | 16,469 | 16,469 | 1,188 | ||||||||||||
Total current | 1,002,920 | 1,002,920 | 1,056,678 | ||||||||||||
Loans past due 90 days or more and accruing | 6 | 6 | |||||||||||||
Financing Receivable, Modifications, Recorded Investment, During Period | 149 | 164 | 193 | 3,052 | |||||||||||
Construction Real Estate - Mortgage [Member] | |||||||||||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||||||||||||
Accruing loans past due 30-89 days | 506 | 506 | 256 | ||||||||||||
Total loans past due | 506 | 506 | 256 | ||||||||||||
Total current | 52,516 | 52,516 | 52,080 | ||||||||||||
Recorded Investment | 53,022 | 53,022 | 52,336 | ||||||||||||
Loans past due 90 days or more and accruing | 0 | 0 | 0 | ||||||||||||
Financing Receivable, Modifications, Recorded Investment, During Period | 8 | 8 | |||||||||||||
Construction Real Estate - Installment [Member] | |||||||||||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||||||||||||
Accruing loans past due 30-89 days | 39 | 39 | 54 | ||||||||||||
Past due nonaccrual loans and loans past due 90 days or more and accruing | 17 | [1] | 17 | [1] | 19 | [2] | |||||||||
Total loans past due | 56 | 56 | 73 | ||||||||||||
Total current | 2,918 | 2,918 | 3,818 | ||||||||||||
Recorded Investment | 2,974 | 2,974 | 3,891 | ||||||||||||
Loans past due 90 days or more and accruing | 0 | 0 | 0 | ||||||||||||
Financing Receivable, Modifications, Recorded Investment, During Period | 14 | 14 | |||||||||||||
Residential Real Estate - Commercial [Member] | |||||||||||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||||||||||||
Accruing loans past due 30-89 days | 16 | ||||||||||||||
Past due nonaccrual loans and loans past due 90 days or more and accruing | 1,112 | [1] | 1,112 | [1] | 1,586 | [2] | |||||||||
Total loans past due | 1,112 | 1,112 | 1,602 | ||||||||||||
Total current | 390,608 | 390,608 | 392,521 | ||||||||||||
Recorded Investment | 391,720 | 391,720 | 394,123 | ||||||||||||
Loans past due 90 days or more and accruing | 0 | 0 | |||||||||||||
Financing Receivable, Modifications, Recorded Investment, During Period | 282 | 282 | |||||||||||||
Residential Real Estate - Mortgage [Member] | |||||||||||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||||||||||||
Accruing loans past due 30-89 days | 12,214 | 12,214 | 11,515 | ||||||||||||
Past due nonaccrual loans and loans past due 90 days or more and accruing | 8,169 | [1] | 8,169 | [1] | 9,232 | [2] | |||||||||
Total loans past due | 20,383 | 20,383 | 20,747 | ||||||||||||
Total current | 1,075,632 | 1,075,632 | 1,091,195 | ||||||||||||
Recorded Investment | 1,096,015 | 1,096,015 | 1,111,942 | ||||||||||||
Loans past due 90 days or more and accruing | 399 | 399 | 568 | ||||||||||||
Financing Receivable, Modifications, Recorded Investment, During Period | 317 | 944 | 961 | 1,548 | |||||||||||
Residential Real Estate - HELOC [Member] | |||||||||||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||||||||||||
Accruing loans past due 30-89 days | 500 | 500 | 616 | ||||||||||||
Past due nonaccrual loans and loans past due 90 days or more and accruing | 768 | [1] | 768 | [1] | 876 | [2] | |||||||||
Total loans past due | 1,268 | 1,268 | 1,492 | ||||||||||||
Total current | 188,316 | 188,316 | 202,660 | ||||||||||||
Recorded Investment | 189,584 | 189,584 | 204,152 | ||||||||||||
Loans past due 90 days or more and accruing | 60 | 60 | 14 | ||||||||||||
Financing Receivable, Modifications, Recorded Investment, During Period | 452 | 208 | 791 | 406 | |||||||||||
Residential Real Estate - Installment [Member] | |||||||||||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||||||||||||
Accruing loans past due 30-89 days | 190 | 190 | 239 | ||||||||||||
Past due nonaccrual loans and loans past due 90 days or more and accruing | 322 | [1] | 322 | [1] | 253 | [2] | |||||||||
Total loans past due | 512 | 512 | 492 | ||||||||||||
Total current | 16,136 | 16,136 | 18,087 | ||||||||||||
Recorded Investment | 16,648 | 16,648 | 18,579 | ||||||||||||
Loans past due 90 days or more and accruing | 103 | 103 | 7 | ||||||||||||
Financing Receivable, Modifications, Recorded Investment, During Period | 75 | 40 | 121 | 73 | |||||||||||
Commercial Financial And Agricultural [Member] | |||||||||||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||||||||||||
Recorded Investment | [3] | 1,019,389 | 1,019,389 | 1,057,866 | |||||||||||
Commercial Real Estate [Member] | |||||||||||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||||||||||||
Accruing loans past due 30-89 days | 156 | 156 | 856 | ||||||||||||
Past due nonaccrual loans and loans past due 90 days or more and accruing | 2,104 | [1] | 2,104 | [1] | 2,360 | [2] | |||||||||
Total loans past due | 2,260 | 2,260 | 3,216 | ||||||||||||
Total current | 1,152,826 | 1,152,826 | 1,168,674 | ||||||||||||
Recorded Investment | [3] | 1,155,086 | 1,155,086 | 1,171,890 | |||||||||||
Loans past due 90 days or more and accruing | 0 | 0 | |||||||||||||
Financing Receivable, Modifications, Recorded Investment, During Period | 589 | 802 | 720 | 1,183 | |||||||||||
Consumer [Member] | |||||||||||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||||||||||||
Accruing loans past due 30-89 days | 9,527 | 9,527 | 11,515 | ||||||||||||
Past due nonaccrual loans and loans past due 90 days or more and accruing | 1,932 | [1] | 1,932 | [1] | 2,407 | [2] | |||||||||
Total loans past due | 11,459 | 11,459 | 13,922 | ||||||||||||
Total current | 1,266,487 | 1,266,487 | 1,231,622 | ||||||||||||
Recorded Investment | 1,277,946 | 1,277,946 | 1,245,544 | ||||||||||||
Loans past due 90 days or more and accruing | 910 | 910 | 1,256 | ||||||||||||
Financing Receivable, Modifications, Recorded Investment, During Period | 778 | 588 | 967 | 1,017 | |||||||||||
Leases [Member] | |||||||||||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||||||||||||
Accruing loans past due 30-89 days | 0 | 0 | 0 | ||||||||||||
Past due nonaccrual loans and loans past due 90 days or more and accruing | 0 | [1] | 0 | [1] | 0 | [2] | |||||||||
Total loans past due | 0 | 0 | 0 | ||||||||||||
Total current | 2,690 | 2,690 | 3,029 | ||||||||||||
Recorded Investment | 2,690 | 2,690 | $ 3,029 | ||||||||||||
Accruing Financing Receivable Modifications [Member] | |||||||||||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||||||||||||
Financing Receivable, Modifications, Recorded Investment, During Period | 1,223 | 1,477 | 1,511 | 1,725 | |||||||||||
Accruing Financing Receivable Modifications [Member] | Commercial Financial And Agricultural [Member] | |||||||||||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||||||||||||
Financing Receivable, Modifications, Recorded Investment, During Period | 123 | 123 | |||||||||||||
Accruing Financing Receivable Modifications [Member] | Construction Real Estate - Mortgage [Member] | |||||||||||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||||||||||||
Financing Receivable, Modifications, Recorded Investment, During Period | 0 | 0 | 0 | 0 | |||||||||||
Accruing Financing Receivable Modifications [Member] | Construction Real Estate - Installment [Member] | |||||||||||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||||||||||||
Financing Receivable, Modifications, Recorded Investment, During Period | 14 | 0 | 14 | 0 | |||||||||||
Accruing Financing Receivable Modifications [Member] | Residential Real Estate - Mortgage [Member] | |||||||||||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||||||||||||
Financing Receivable, Modifications, Recorded Investment, During Period | 93 | 438 | 93 | 438 | |||||||||||
Accruing Financing Receivable Modifications [Member] | Residential Real Estate - HELOC [Member] | |||||||||||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||||||||||||
Financing Receivable, Modifications, Recorded Investment, During Period | 409 | 160 | 661 | 359 | |||||||||||
Accruing Financing Receivable Modifications [Member] | Residential Real Estate - Installment [Member] | |||||||||||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||||||||||||
Financing Receivable, Modifications, Recorded Investment, During Period | 71 | 40 | 104 | 73 | |||||||||||
Accruing Financing Receivable Modifications [Member] | Commercial Real Estate [Member] | |||||||||||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||||||||||||
Financing Receivable, Modifications, Recorded Investment, During Period | 455 | 802 | 455 | 803 | |||||||||||
Accruing Financing Receivable Modifications [Member] | Consumer [Member] | |||||||||||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||||||||||||
Financing Receivable, Modifications, Recorded Investment, During Period | 58 | 37 | 61 | 52 | |||||||||||
Nonaccruing Financing Receivable Modifications [Member] | |||||||||||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||||||||||||
Financing Receivable, Modifications, Recorded Investment, During Period | 1,151 | 1,559 | 2,256 | 5,844 | |||||||||||
Nonaccruing Financing Receivable Modifications [Member] | Commercial Financial And Agricultural [Member] | |||||||||||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||||||||||||
Financing Receivable, Modifications, Recorded Investment, During Period | 26 | 164 | 70 | 3,052 | |||||||||||
Nonaccruing Financing Receivable Modifications [Member] | Construction Real Estate - Mortgage [Member] | |||||||||||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||||||||||||
Financing Receivable, Modifications, Recorded Investment, During Period | 8 | 8 | |||||||||||||
Nonaccruing Financing Receivable Modifications [Member] | Residential Real Estate - Commercial [Member] | |||||||||||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||||||||||||
Financing Receivable, Modifications, Recorded Investment, During Period | 282 | 282 | |||||||||||||
Nonaccruing Financing Receivable Modifications [Member] | Residential Real Estate - Mortgage [Member] | |||||||||||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||||||||||||
Financing Receivable, Modifications, Recorded Investment, During Period | 224 | 506 | 868 | 1,110 | |||||||||||
Nonaccruing Financing Receivable Modifications [Member] | Residential Real Estate - HELOC [Member] | |||||||||||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||||||||||||
Financing Receivable, Modifications, Recorded Investment, During Period | 43 | 48 | 130 | 47 | |||||||||||
Nonaccruing Financing Receivable Modifications [Member] | Residential Real Estate - Installment [Member] | |||||||||||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||||||||||||
Financing Receivable, Modifications, Recorded Investment, During Period | 4 | 17 | |||||||||||||
Nonaccruing Financing Receivable Modifications [Member] | Commercial Real Estate [Member] | |||||||||||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||||||||||||
Financing Receivable, Modifications, Recorded Investment, During Period | 134 | 265 | 380 | ||||||||||||
Nonaccruing Financing Receivable Modifications [Member] | Consumer [Member] | |||||||||||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||||||||||||
Financing Receivable, Modifications, Recorded Investment, During Period | $ 720 | $ 551 | $ 906 | $ 965 | |||||||||||
|
Loans (Recorded Investment By Loan Grade) (Details) - USD ($) $ in Thousands |
Jun. 30, 2018 |
Dec. 31, 2017 |
|||||||||
---|---|---|---|---|---|---|---|---|---|---|---|
Financing Receivable, Recorded Investment [Line Items] | |||||||||||
Recorded Investment | $ 5,324,974 | $ 5,372,483 | |||||||||
Construction Real Estate Commercial [Domain] | |||||||||||
Financing Receivable, Recorded Investment [Line Items] | |||||||||||
Recorded Investment | 136,058 | 125,389 | |||||||||
Residential Real Estate - Commercial [Member] | |||||||||||
Financing Receivable, Recorded Investment [Line Items] | |||||||||||
Recorded Investment | 390,651 | 393,094 | |||||||||
Commercial Real Estate [Member] | |||||||||||
Financing Receivable, Recorded Investment [Line Items] | |||||||||||
Recorded Investment | [1] | 1,150,845 | 1,167,607 | ||||||||
Leases [Member] | |||||||||||
Financing Receivable, Recorded Investment [Line Items] | |||||||||||
Recorded Investment | 2,667 | 2,993 | |||||||||
5 Rated [Member] | |||||||||||
Financing Receivable, Recorded Investment [Line Items] | |||||||||||
Total ending loan balance, recorded investment | 4,593 | 23,088 | |||||||||
5 Rated [Member] | Construction Real Estate Commercial [Domain] | |||||||||||
Financing Receivable, Recorded Investment [Line Items] | |||||||||||
Total ending loan balance, recorded investment | 21 | 278 | |||||||||
5 Rated [Member] | Residential Real Estate - Commercial [Member] | |||||||||||
Financing Receivable, Recorded Investment [Line Items] | |||||||||||
Total ending loan balance, recorded investment | 317 | 216 | |||||||||
5 Rated [Member] | Commercial, Financial, and Agricultural [Member] | |||||||||||
Financing Receivable, Recorded Investment [Line Items] | |||||||||||
Total ending loan balance, recorded investment | 1,195 | [2] | 17,272 | [3] | |||||||
5 Rated [Member] | Commercial Real Estate [Member] | |||||||||||
Financing Receivable, Recorded Investment [Line Items] | |||||||||||
Total ending loan balance, recorded investment | 3,060 | [2] | 5,322 | [3] | |||||||
5 Rated [Member] | Leases [Member] | |||||||||||
Financing Receivable, Recorded Investment [Line Items] | |||||||||||
Total ending loan balance, recorded investment | 0 | 0 | |||||||||
6 Rated [Member] | |||||||||||
Financing Receivable, Recorded Investment [Line Items] | |||||||||||
Total ending loan balance, recorded investment | 103 | 611 | |||||||||
6 Rated [Member] | Construction Real Estate Commercial [Domain] | |||||||||||
Financing Receivable, Recorded Investment [Line Items] | |||||||||||
Total ending loan balance, recorded investment | 0 | ||||||||||
6 Rated [Member] | Residential Real Estate - Commercial [Member] | |||||||||||
Financing Receivable, Recorded Investment [Line Items] | |||||||||||
Total ending loan balance, recorded investment | 46 | 1 | |||||||||
6 Rated [Member] | Commercial, Financial, and Agricultural [Member] | |||||||||||
Financing Receivable, Recorded Investment [Line Items] | |||||||||||
Total ending loan balance, recorded investment | 57 | [2] | 153 | [3] | |||||||
6 Rated [Member] | Commercial Real Estate [Member] | |||||||||||
Financing Receivable, Recorded Investment [Line Items] | |||||||||||
Total ending loan balance, recorded investment | [3] | 457 | |||||||||
6 Rated [Member] | Leases [Member] | |||||||||||
Financing Receivable, Recorded Investment [Line Items] | |||||||||||
Total ending loan balance, recorded investment | 0 | 0 | |||||||||
Impaired [Member] | |||||||||||
Financing Receivable, Recorded Investment [Line Items] | |||||||||||
Total ending loan balance, recorded investment | 61,841 | 56,589 | |||||||||
Impaired [Member] | Construction Real Estate Commercial [Domain] | |||||||||||
Financing Receivable, Recorded Investment [Line Items] | |||||||||||
Total ending loan balance, recorded investment | 2,529 | 1,324 | |||||||||
Impaired [Member] | Residential Real Estate - Commercial [Member] | |||||||||||
Financing Receivable, Recorded Investment [Line Items] | |||||||||||
Total ending loan balance, recorded investment | 2,750 | 19,059 | |||||||||
Impaired [Member] | Commercial, Financial, and Agricultural [Member] | |||||||||||
Financing Receivable, Recorded Investment [Line Items] | |||||||||||
Total ending loan balance, recorded investment | 30,034 | [2] | 18,064 | [3] | |||||||
Impaired [Member] | Commercial Real Estate [Member] | |||||||||||
Financing Receivable, Recorded Investment [Line Items] | |||||||||||
Total ending loan balance, recorded investment | 26,528 | [2] | 18,142 | [3] | |||||||
Impaired [Member] | Leases [Member] | |||||||||||
Financing Receivable, Recorded Investment [Line Items] | |||||||||||
Total ending loan balance, recorded investment | 0 | 0 | |||||||||
Pass Rated [Member] | |||||||||||
Financing Receivable, Recorded Investment [Line Items] | |||||||||||
Total ending loan balance, recorded investment | 2,638,829 | 2,672,410 | |||||||||
Pass Rated [Member] | Construction Real Estate Commercial [Domain] | |||||||||||
Financing Receivable, Recorded Investment [Line Items] | |||||||||||
Total ending loan balance, recorded investment | 133,931 | 124,188 | |||||||||
Pass Rated [Member] | Residential Real Estate - Commercial [Member] | |||||||||||
Financing Receivable, Recorded Investment [Line Items] | |||||||||||
Total ending loan balance, recorded investment | 388,607 | 374,847 | |||||||||
Pass Rated [Member] | Commercial, Financial, and Agricultural [Member] | |||||||||||
Financing Receivable, Recorded Investment [Line Items] | |||||||||||
Total ending loan balance, recorded investment | 988,103 | [2] | 1,022,377 | [3] | |||||||
Pass Rated [Member] | Commercial Real Estate [Member] | |||||||||||
Financing Receivable, Recorded Investment [Line Items] | |||||||||||
Total ending loan balance, recorded investment | 1,125,498 | [2] | 1,147,969 | [3] | |||||||
Pass Rated [Member] | Leases [Member] | |||||||||||
Financing Receivable, Recorded Investment [Line Items] | |||||||||||
Total ending loan balance, recorded investment | 2,690 | 3,029 | |||||||||
Recorded Investment [Member] | |||||||||||
Financing Receivable, Recorded Investment [Line Items] | |||||||||||
Recorded Investment | 2,705,366 | 2,752,698 | |||||||||
Recorded Investment [Member] | Construction Real Estate Commercial [Domain] | |||||||||||
Financing Receivable, Recorded Investment [Line Items] | |||||||||||
Recorded Investment | 136,481 | 125,790 | |||||||||
Recorded Investment [Member] | Residential Real Estate - Commercial [Member] | |||||||||||
Financing Receivable, Recorded Investment [Line Items] | |||||||||||
Recorded Investment | 391,720 | 394,123 | |||||||||
Recorded Investment [Member] | Commercial, Financial, and Agricultural [Member] | |||||||||||
Financing Receivable, Recorded Investment [Line Items] | |||||||||||
Recorded Investment | 1,019,389 | [2] | 1,057,866 | [3] | |||||||
Recorded Investment [Member] | Commercial Real Estate [Member] | |||||||||||
Financing Receivable, Recorded Investment [Line Items] | |||||||||||
Recorded Investment | 1,155,086 | [2] | 1,171,890 | [3] | |||||||
Recorded Investment [Member] | Leases [Member] | |||||||||||
Financing Receivable, Recorded Investment [Line Items] | |||||||||||
Recorded Investment | $ 2,690 | $ 3,029 | |||||||||
|
Loans (TDR Number Of Contracts Modified And Recorded Investment) (Details) $ in Thousands |
3 Months Ended | 6 Months Ended | ||
---|---|---|---|---|
Jun. 30, 2018
USD ($)
contracts
|
Jun. 30, 2017
USD ($)
contracts
|
Jun. 30, 2018
USD ($)
contracts
|
Jun. 30, 2017
USD ($)
contracts
|
|
Financing Receivable, Recorded Investment [Line Items] | ||||
Additional Specific Reserves Related To Troubled Debt Restructuring | $ 0 | $ 10 | $ 10 | $ 290 |
Troubled Debt Restructuring, Classification removed | $ 1,900 | $ 2,200 | $ 0 | |
Number of Contracts | contracts | 108 | 103 | 182 | 186 |
Total Recorded Investment | $ 2,374 | $ 3,036 | $ 3,767 | $ 7,569 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment, During Period | $ 1,235 | $ 2,110 | $ 1,380 | $ 2,326 |
Construction Real Estate - Mortgage [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Number of Contracts | contracts | 0 | 1 | 0 | 1 |
Total Recorded Investment | $ 8 | $ 8 | ||
Commercial Financial And Agricultural [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Number of Contracts | contracts | 4 | 3 | 8 | 11 |
Total Recorded Investment | $ 149 | $ 164 | $ 193 | $ 3,052 |
Residential Real Estate - Commercial [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Number of Contracts | contracts | 0 | 4 | 0 | 5 |
Total Recorded Investment | $ 282 | $ 282 | ||
Residential Real Estate - Mortgage [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Number of Contracts | contracts | 4 | 10 | 13 | 19 |
Total Recorded Investment | $ 317 | $ 944 | $ 961 | $ 1,548 |
Construction Real Estate - Installment [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Number of Contracts | contracts | 2 | 0 | 2 | 0 |
Total Recorded Investment | $ 14 | $ 14 | ||
Residential Real Estate Installment [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Total Recorded Investment | $ 75 | $ 40 | $ 121 | $ 73 |
Residential Real Estate Home Equity Line Of Credit [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Number of Contracts | contracts | 6 | 9 | 8 | 12 |
Total Recorded Investment | $ 452 | $ 208 | $ 791 | $ 406 |
Construction Real Estate Commercial [Domain] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Number of Contracts | contracts | 0 | 0 | 1 | 0 |
Commercial Real Estate [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Number of Contracts | contracts | 3 | 2 | 6 | 6 |
Total Recorded Investment | $ 589 | $ 802 | $ 720 | $ 1,183 |
Residential Real Estate Installment [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Number of Contracts | contracts | 4 | 2 | 9 | 3 |
Consumer [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Number of Contracts | contracts | 85 | 72 | 135 | 129 |
Total Recorded Investment | $ 778 | $ 588 | $ 967 | $ 1,017 |
Accruing [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Total Recorded Investment | 1,223 | 1,477 | 1,511 | 1,725 |
Accruing [Member] | Construction Real Estate - Mortgage [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Total Recorded Investment | 0 | 0 | 0 | 0 |
Accruing [Member] | Commercial Financial And Agricultural [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Total Recorded Investment | 123 | 123 | ||
Accruing [Member] | Residential Real Estate - Mortgage [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Total Recorded Investment | 93 | 438 | 93 | 438 |
Accruing [Member] | Construction Real Estate - Installment [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Total Recorded Investment | 14 | 0 | 14 | 0 |
Accruing [Member] | Residential Real Estate Installment [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Total Recorded Investment | 71 | 40 | 104 | 73 |
Accruing [Member] | Residential Real Estate Home Equity Line Of Credit [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Total Recorded Investment | 409 | 160 | 661 | 359 |
Accruing [Member] | Commercial Real Estate [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Total Recorded Investment | 455 | 802 | 455 | 803 |
Accruing [Member] | Consumer [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Total Recorded Investment | 58 | 37 | 61 | 52 |
Nonaccrual [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Total Recorded Investment | 1,151 | 1,559 | 2,256 | 5,844 |
Nonaccrual [Member] | Construction Real Estate - Mortgage [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Total Recorded Investment | 8 | 8 | ||
Nonaccrual [Member] | Commercial Financial And Agricultural [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Total Recorded Investment | 26 | 164 | 70 | 3,052 |
Nonaccrual [Member] | Residential Real Estate - Commercial [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Total Recorded Investment | 282 | 282 | ||
Nonaccrual [Member] | Residential Real Estate - Mortgage [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Total Recorded Investment | 224 | 506 | 868 | 1,110 |
Nonaccrual [Member] | Residential Real Estate Installment [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Total Recorded Investment | 4 | 17 | ||
Nonaccrual [Member] | Residential Real Estate Home Equity Line Of Credit [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Total Recorded Investment | 43 | 48 | 130 | 47 |
Nonaccrual [Member] | Commercial Real Estate [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Total Recorded Investment | 134 | 265 | 380 | |
Nonaccrual [Member] | Consumer [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Total Recorded Investment | $ 720 | $ 551 | $ 906 | $ 965 |
Loans (Recorded Investment In Financing Receivable Modified As TDR Within 12 Months) (Details) $ in Thousands |
3 Months Ended | 6 Months Ended | |||
---|---|---|---|---|---|
Jun. 30, 2018
USD ($)
contracts
|
Jun. 30, 2017
USD ($)
contracts
|
Jun. 30, 2018
USD ($)
contracts
|
Jun. 30, 2017
USD ($)
contracts
|
Dec. 31, 2017
USD ($)
|
|
Financing Receivable, Recorded Investment [Line Items] | |||||
Troubled Debt Restructuring, Classification removed | $ 1,900 | $ 2,200 | $ 0 | ||
Number of Contracts | contracts | 52 | 70 | 58 | 79 | |
Recorded Investment | $ 1,235 | $ 2,110 | $ 1,380 | $ 2,326 | |
Financing Receivable, Modifications, Recorded Investment, During Period | 2,374 | $ 3,036 | 3,767 | $ 7,569 | |
Troubled Debt Restructuring Included In Nonaccrual Loans | 23,900 | 23,900 | $ 38,500 | ||
Nonaccrual Trouble Debt Restructuring Current | 18,100 | 18,100 | $ 32,400 | ||
Construction Real Estate - Installment [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Financing Receivable, Modifications, Recorded Investment, During Period | $ 14 | $ 14 | |||
Commercial Financial And Agricultural [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Number of Contracts | contracts | 3 | 4 | 3 | 4 | |
Recorded Investment | $ 144 | $ 109 | $ 144 | $ 109 | |
Financing Receivable, Modifications, Recorded Investment, During Period | $ 149 | $ 164 | $ 193 | $ 3,052 | |
Residential Real Estate - Commercial [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Number of Contracts | contracts | 0 | 1 | 0 | 1 | |
Recorded Investment | $ 29 | $ 29 | |||
Financing Receivable, Modifications, Recorded Investment, During Period | $ 282 | $ 282 | |||
Residential Real Estate - Mortgage [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Number of Contracts | contracts | 6 | 10 | 7 | 10 | |
Recorded Investment | $ 600 | $ 724 | $ 703 | $ 724 | |
Financing Receivable, Modifications, Recorded Investment, During Period | $ 317 | $ 944 | $ 961 | $ 1,548 | |
Residential Real Estate - HELOC [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Number of Contracts | contracts | 1 | 2 | 1 | 2 | |
Recorded Investment | $ 88 | $ 10 | $ 88 | $ 10 | |
Financing Receivable, Modifications, Recorded Investment, During Period | 452 | 208 | 791 | 406 | |
Construction Real Estate - Mortgage [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Financing Receivable, Modifications, Recorded Investment, During Period | 8 | 8 | |||
Residential Real Estate - Installment [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Financing Receivable, Modifications, Recorded Investment, During Period | $ 75 | $ 40 | $ 121 | $ 73 | |
Construction Real Estate Commercial [Domain] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Number of Contracts | contracts | 0 | 0 | 0 | 0 | |
Consumer Portfolio Segment [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Financing Receivable, Modifications, Recorded Investment, During Period | $ 778 | $ 588 | $ 967 | $ 1,017 | |
Commercial Real Estate [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Number of Contracts | contracts | 0 | 4 | 0 | 5 | |
Recorded Investment | $ 657 | $ 834 | |||
Financing Receivable, Modifications, Recorded Investment, During Period | $ 589 | $ 802 | $ 720 | $ 1,183 | |
Construction Real Estate - Mortgage [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Number of Contracts | contracts | 0 | 0 | 0 | 0 | |
Recorded Investment | $ 0 | $ 0 | $ 0 | $ 0 | |
Construction Real Estate - Installment [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Number of Contracts | contracts | 0 | 0 | 0 | 0 | |
Recorded Investment | $ 0 | $ 0 | $ 0 | $ 0 | |
Residential Real Estate - Installment [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Number of Contracts | contracts | 0 | 1 | 0 | 1 | |
Recorded Investment | $ 0 | $ 2 | $ 0 | $ 2 | |
Consumer Loan [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Number of Contracts | contracts | 42 | 48 | 47 | 56 | |
Recorded Investment | $ 403 | $ 579 | $ 445 | $ 618 | |
Finance Leases Financing Receivable [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Number of Contracts | contracts | 0 | 0 | 0 | 0 | |
Recorded Investment | $ 0 | $ 0 | $ 0 | $ 0 | |
Accruing Financing Receivable Modifications [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Financing Receivable, Modifications, Recorded Investment, During Period | 1,223 | 1,477 | 1,511 | 1,725 | |
Accruing Financing Receivable Modifications [Member] | Construction Real Estate - Installment [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Financing Receivable, Modifications, Recorded Investment, During Period | 14 | 0 | 14 | 0 | |
Accruing Financing Receivable Modifications [Member] | Commercial Financial And Agricultural [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Financing Receivable, Modifications, Recorded Investment, During Period | 123 | 123 | |||
Accruing Financing Receivable Modifications [Member] | Residential Real Estate - Mortgage [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Financing Receivable, Modifications, Recorded Investment, During Period | 93 | 438 | 93 | 438 | |
Accruing Financing Receivable Modifications [Member] | Residential Real Estate - HELOC [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Financing Receivable, Modifications, Recorded Investment, During Period | 409 | 160 | 661 | 359 | |
Accruing Financing Receivable Modifications [Member] | Construction Real Estate - Mortgage [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Financing Receivable, Modifications, Recorded Investment, During Period | 0 | 0 | 0 | 0 | |
Accruing Financing Receivable Modifications [Member] | Residential Real Estate - Installment [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Financing Receivable, Modifications, Recorded Investment, During Period | 71 | 40 | 104 | 73 | |
Accruing Financing Receivable Modifications [Member] | Consumer Portfolio Segment [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Financing Receivable, Modifications, Recorded Investment, During Period | 58 | 37 | 61 | 52 | |
Accruing Financing Receivable Modifications [Member] | Commercial Real Estate [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Financing Receivable, Modifications, Recorded Investment, During Period | 455 | 802 | 455 | 803 | |
Nonaccruing Financing Receivable Modifications [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Financing Receivable, Modifications, Recorded Investment, During Period | 1,151 | 1,559 | 2,256 | 5,844 | |
Nonaccruing Financing Receivable Modifications [Member] | Commercial Financial And Agricultural [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Financing Receivable, Modifications, Recorded Investment, During Period | 26 | 164 | 70 | 3,052 | |
Nonaccruing Financing Receivable Modifications [Member] | Residential Real Estate - Commercial [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Financing Receivable, Modifications, Recorded Investment, During Period | 282 | 282 | |||
Nonaccruing Financing Receivable Modifications [Member] | Residential Real Estate - Mortgage [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Financing Receivable, Modifications, Recorded Investment, During Period | 224 | 506 | 868 | 1,110 | |
Nonaccruing Financing Receivable Modifications [Member] | Residential Real Estate - HELOC [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Financing Receivable, Modifications, Recorded Investment, During Period | 43 | 48 | 130 | 47 | |
Nonaccruing Financing Receivable Modifications [Member] | Construction Real Estate - Mortgage [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Financing Receivable, Modifications, Recorded Investment, During Period | 8 | 8 | |||
Nonaccruing Financing Receivable Modifications [Member] | Residential Real Estate - Installment [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Financing Receivable, Modifications, Recorded Investment, During Period | 4 | 17 | |||
Nonaccruing Financing Receivable Modifications [Member] | Consumer Portfolio Segment [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Financing Receivable, Modifications, Recorded Investment, During Period | 720 | $ 551 | 906 | 965 | |
Nonaccruing Financing Receivable Modifications [Member] | Commercial Real Estate [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Financing Receivable, Modifications, Recorded Investment, During Period | $ 134 | $ 265 | $ 380 |
Allowance For Loan Losses (Activity In The Allowance For Loan Losses) (Details) - USD ($) $ in Thousands |
3 Months Ended | 6 Months Ended | 12 Months Ended | |||
---|---|---|---|---|---|---|
Jun. 30, 2018 |
Jun. 30, 2017 |
Jun. 30, 2018 |
Jun. 30, 2017 |
Dec. 31, 2017 |
Dec. 31, 2016 |
|
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Allowance for Loan and Lease Losses, Reserve Estimate Methodology, Historical Loss Period Factor | 96 months | 84 months | ||||
Financing Receivable, Allowance for Credit Losses, Write-downs | $ 2,716 | $ 3,046 | $ 6,166 | $ 6,754 | ||
Financing Receivable, Allowance for Credit Losses, Recovery | 1,813 | 2,365 | 3,984 | 4,495 | ||
Financing Receivables Allowance For Credit Losses Net Charge Offs | 903 | 681 | 2,182 | 2,259 | ||
Allowance for Loan and Lease Losses [Roll Forward] | ||||||
Beginning balance | 48,969 | 49,922 | 49,988 | 50,624 | $ 50,624 | |
Ending balance | 49,452 | 53,822 | 49,452 | 53,822 | 49,988 | $ 50,624 |
Provision for Loan, Lease, and Other Losses | 1,386 | 4,581 | 1,646 | 5,457 | ||
Commercial Financial And Agricultural [Member] | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Financing Receivable, Allowance for Credit Losses, Write-downs | 287 | 318 | 936 | 657 | ||
Financing Receivable, Allowance for Credit Losses, Recovery | 206 | 163 | 858 | 532 | ||
Financing Receivables Allowance For Credit Losses Net Charge Offs | 81 | 155 | 78 | 125 | ||
Allowance for Loan and Lease Losses [Roll Forward] | ||||||
Beginning balance | 14,077 | 13,437 | 15,022 | 13,434 | 13,434 | |
Ending balance | 14,478 | 16,746 | 14,478 | 16,746 | 15,022 | 13,434 |
Provision for Loan, Lease, and Other Losses | 482 | 3,464 | (466) | 3,437 | ||
Commercial Real Estate [Member] | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Financing Receivable, Allowance for Credit Losses, Write-downs | 182 | 310 | 229 | 422 | ||
Financing Receivable, Allowance for Credit Losses, Recovery | 89 | 241 | 176 | 355 | ||
Financing Receivables Allowance For Credit Losses Net Charge Offs | 93 | 69 | 53 | 67 | ||
Allowance for Loan and Lease Losses [Roll Forward] | ||||||
Beginning balance | 9,488 | 10,281 | 9,601 | 10,432 | 10,432 | |
Ending balance | 9,406 | 10,451 | 9,406 | 10,451 | 9,601 | 10,432 |
Provision for Loan, Lease, and Other Losses | 11 | 239 | (142) | 86 | ||
Construction Real Estate [Member] | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Financing Receivable, Allowance for Credit Losses, Write-downs | 31 | 0 | 31 | 27 | ||
Financing Receivable, Allowance for Credit Losses, Recovery | 220 | 325 | 279 | 383 | ||
Financing Receivables Allowance For Credit Losses Net Charge Offs | (189) | (325) | (248) | (356) | ||
Allowance for Loan and Lease Losses [Roll Forward] | ||||||
Beginning balance | 4,463 | 4,368 | 4,430 | 5,247 | 5,247 | |
Ending balance | 4,652 | 4,677 | 4,652 | 4,677 | 4,430 | 5,247 |
Provision for Loan, Lease, and Other Losses | 0 | (16) | (26) | (926) | ||
Residential Real Estate [Member] | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Financing Receivable, Allowance for Credit Losses, Write-downs | 102 | 290 | 218 | 770 | ||
Financing Receivable, Allowance for Credit Losses, Recovery | 244 | 336 | 604 | 627 | ||
Financing Receivables Allowance For Credit Losses Net Charge Offs | (142) | (46) | (386) | 143 | ||
Allowance for Loan and Lease Losses [Roll Forward] | ||||||
Beginning balance | 9,415 | 10,745 | 9,321 | 10,958 | 10,958 | |
Ending balance | 9,245 | 10,319 | 9,245 | 10,319 | 9,321 | 10,958 |
Provision for Loan, Lease, and Other Losses | (312) | (472) | (462) | (496) | ||
Consumer [Member] | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Financing Receivable, Allowance for Credit Losses, Write-downs | 2,114 | 2,128 | 4,752 | 4,878 | ||
Financing Receivable, Allowance for Credit Losses, Recovery | 1,054 | 1,300 | 2,067 | 2,598 | ||
Financing Receivables Allowance For Credit Losses Net Charge Offs | 1,060 | 828 | 2,685 | 2,280 | ||
Allowance for Loan and Lease Losses [Roll Forward] | ||||||
Beginning balance | 11,526 | 11,091 | 11,614 | 10,553 | 10,553 | |
Ending balance | 11,671 | 11,629 | 11,671 | 11,629 | 11,614 | 10,553 |
Provision for Loan, Lease, and Other Losses | 1,205 | 1,366 | 2,742 | 3,356 | ||
Leases [Member] | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Financing Receivable, Allowance for Credit Losses, Write-downs | 0 | 0 | 0 | 0 | ||
Financing Receivable, Allowance for Credit Losses, Recovery | 0 | 0 | 0 | 0 | ||
Financing Receivables Allowance For Credit Losses Net Charge Offs | 0 | 0 | 0 | 0 | ||
Allowance for Loan and Lease Losses [Roll Forward] | ||||||
Beginning balance | 0 | 0 | 0 | 0 | 0 | |
Ending balance | 0 | 0 | 0 | 0 | $ 0 | $ 0 |
Provision for Loan, Lease, and Other Losses | $ 0 | $ 0 | $ 0 | $ 0 |
Allowance For Loan Losses (Composition Of The Allowance For Loan Losses) (Details) - USD ($) $ in Thousands |
Jun. 30, 2018 |
Dec. 31, 2017 |
|||
---|---|---|---|---|---|
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Allowance for loan losses individually evaluated for impairment | $ 1,396 | $ 684 | |||
Allowance for loan losses collectively evaluated for impairment | 48,056 | 49,304 | |||
Total ending allowance balance | 49,452 | 49,988 | |||
Loans individually evaluated for impairment | 61,705 | 56,545 | |||
Loans collectively evaluated for impairment | 5,263,269 | 5,315,938 | |||
Total ending loan balance, net of accrued interest receivable | $ 5,324,974 | $ 5,372,483 | |||
Allowance for loan losses as a percentage of loan balance individually evaluated for impairment | 2.26238% | 1.20966% | |||
Allowance for loan losses as a percentage of loan balance collectively evaluated for impairment | 0.91304% | 0.92748% | |||
Total ending allowance for loan losses balance as a percentage of loan balance | 0.92868% | 0.93045% | |||
Recorded investment | $ 61,750 | $ 56,564 | |||
Recorded investment collectively evaluated for impairment | 5,279,805 | 5,332,578 | |||
Recorded Investment | 5,341,555 | 5,389,142 | |||
Commercial Financial And Agricultural [Member] | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Allowance for loan losses individually evaluated for impairment | 1,366 | 681 | |||
Allowance for loan losses collectively evaluated for impairment | 13,112 | 14,341 | |||
Total ending allowance balance | 14,478 | 15,022 | |||
Loans individually evaluated for impairment | 29,942 | 18,034 | |||
Loans collectively evaluated for impairment | 984,681 | 1,035,419 | |||
Total ending loan balance, net of accrued interest receivable | [1] | $ 1,014,623 | $ 1,053,453 | ||
Allowance for loan losses as a percentage of loan balance individually evaluated for impairment | 4.56% | 3.7762% | |||
Allowance for loan losses as a percentage of loan balance collectively evaluated for impairment | 1.34% | 1.38504% | |||
Total ending allowance for loan losses balance as a percentage of loan balance | 1.42693% | 1.42598% | |||
Recorded investment | $ 29,943 | $ 18,039 | |||
Recorded investment collectively evaluated for impairment | 989,446 | 1,039,827 | |||
Recorded Investment | [1] | 1,019,389 | 1,057,866 | ||
Commercial Real Estate [Member] | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Allowance for loan losses individually evaluated for impairment | 27 | 2 | |||
Allowance for loan losses collectively evaluated for impairment | 9,379 | 9,599 | |||
Total ending allowance balance | 9,406 | 9,601 | |||
Loans individually evaluated for impairment | 26,485 | 18,131 | |||
Loans collectively evaluated for impairment | 1,124,360 | 1,149,476 | |||
Total ending loan balance, net of accrued interest receivable | [1] | $ 1,150,845 | $ 1,167,607 | ||
Allowance for loan losses as a percentage of loan balance individually evaluated for impairment | 0.10% | 0.01103% | |||
Allowance for loan losses as a percentage of loan balance collectively evaluated for impairment | 0.83% | 0.83508% | |||
Total ending allowance for loan losses balance as a percentage of loan balance | 0.81731% | 0.82228% | |||
Recorded investment | $ 26,528 | $ 18,142 | |||
Recorded investment collectively evaluated for impairment | 1,128,558 | 1,153,748 | |||
Recorded Investment | [1] | 1,155,086 | 1,171,890 | ||
Construction Real Estate [Member] | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Allowance for loan losses individually evaluated for impairment | 0 | 0 | |||
Allowance for loan losses collectively evaluated for impairment | 4,652 | 4,430 | |||
Total ending allowance balance | 4,652 | 4,430 | |||
Loans individually evaluated for impairment | 2,529 | 1,322 | |||
Loans collectively evaluated for impairment | 189,389 | 180,148 | |||
Total ending loan balance, net of accrued interest receivable | $ 191,918 | $ 181,470 | |||
Allowance for loan losses as a percentage of loan balance individually evaluated for impairment | 0.00% | 0.00% | |||
Allowance for loan losses as a percentage of loan balance collectively evaluated for impairment | 2.45% | 2.45909% | |||
Total ending allowance for loan losses balance as a percentage of loan balance | 2.42395% | 2.44117% | |||
Recorded investment | $ 2,529 | $ 1,324 | |||
Recorded investment collectively evaluated for impairment | 189,948 | 180,693 | |||
Recorded Investment | 192,477 | 182,017 | |||
Residential Real Estate [Member] | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Allowance for loan losses individually evaluated for impairment | 3 | 1 | |||
Allowance for loan losses collectively evaluated for impairment | 9,242 | 9,320 | |||
Total ending allowance balance | 9,245 | 9,321 | |||
Loans individually evaluated for impairment | 2,749 | 19,058 | |||
Loans collectively evaluated for impairment | 1,687,823 | 1,706,166 | |||
Total ending loan balance, net of accrued interest receivable | $ 1,690,572 | $ 1,725,224 | |||
Allowance for loan losses as a percentage of loan balance individually evaluated for impairment | 0.11% | 0.00525% | |||
Allowance for loan losses as a percentage of loan balance collectively evaluated for impairment | 0.55% | 0.54625% | |||
Total ending allowance for loan losses balance as a percentage of loan balance | 0.54686% | 0.54028% | |||
Recorded investment | $ 2,750 | $ 19,059 | |||
Recorded investment collectively evaluated for impairment | 1,691,217 | 1,709,737 | |||
Recorded Investment | 1,693,967 | 1,728,796 | |||
Consumer [Member] | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Allowance for loan losses individually evaluated for impairment | 0 | 0 | |||
Allowance for loan losses collectively evaluated for impairment | 11,671 | 11,614 | |||
Total ending allowance balance | 11,671 | 11,614 | |||
Loans individually evaluated for impairment | 0 | 0 | |||
Loans collectively evaluated for impairment | 1,274,349 | 1,241,736 | |||
Total ending loan balance, net of accrued interest receivable | $ 1,274,349 | $ 1,241,736 | |||
Allowance for loan losses as a percentage of loan balance individually evaluated for impairment | 0.00% | 0.00% | |||
Allowance for loan losses as a percentage of loan balance collectively evaluated for impairment | 0.91% | 0.9353% | |||
Total ending allowance for loan losses balance as a percentage of loan balance | 0.91584% | 0.9353% | |||
Recorded investment | $ 0 | $ 0 | |||
Recorded investment collectively evaluated for impairment | 1,277,946 | 1,245,544 | |||
Recorded Investment | 1,277,946 | 1,245,544 | |||
Leases [Member] | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Allowance for loan losses individually evaluated for impairment | 0 | 0 | |||
Allowance for loan losses collectively evaluated for impairment | 0 | 0 | |||
Total ending allowance balance | 0 | 0 | |||
Loans individually evaluated for impairment | 0 | 0 | |||
Loans collectively evaluated for impairment | 2,667 | 2,993 | |||
Total ending loan balance, net of accrued interest receivable | $ 2,667 | $ 2,993 | |||
Allowance for loan losses as a percentage of loan balance individually evaluated for impairment | 0.00% | 0.00% | |||
Allowance for loan losses as a percentage of loan balance collectively evaluated for impairment | 0.00% | 0.00% | |||
Total ending allowance for loan losses balance as a percentage of loan balance | 0.00% | 0.00% | |||
Recorded investment | $ 0 | $ 0 | |||
Recorded investment collectively evaluated for impairment | 2,690 | 3,029 | |||
Recorded Investment | $ 2,690 | $ 3,029 | |||
|
Other Real Estate Owned Other Real Estate Owned (Details) - USD ($) $ in Thousands |
Jun. 30, 2018 |
Dec. 31, 2017 |
---|---|---|
Schedule of Assets Repossessed or Foreclosed, or loans in process of foreclosure [Line Items] | ||
Other Real Estate, Foreclosed Assets, and Repossessed Assets | $ 5,729 | $ 14,190 |
Commercial Real Estate [Member] | ||
Schedule of Assets Repossessed or Foreclosed, or loans in process of foreclosure [Line Items] | ||
Other Real Estate, Foreclosed Assets, and Repossessed Assets | 2,295 | 7,888 |
Construction Real Estate [Member] | ||
Schedule of Assets Repossessed or Foreclosed, or loans in process of foreclosure [Line Items] | ||
Other Real Estate, Foreclosed Assets, and Repossessed Assets | 2,425 | 4,852 |
Residential Real Estate [Member] | ||
Schedule of Assets Repossessed or Foreclosed, or loans in process of foreclosure [Line Items] | ||
Other Real Estate, Foreclosed Assets, and Repossessed Assets | 1,009 | 1,450 |
Mortgage Loans in Process of Foreclosure, Amount | $ 2,633 | $ 2,948 |
Earnings Per Common Share (Narrative) (Details) - shares |
3 Months Ended | 6 Months Ended | |||
---|---|---|---|---|---|
Jun. 30, 2018 |
Jun. 30, 2017 |
Jun. 30, 2018 |
Jun. 30, 2017 |
Dec. 31, 2017 |
|
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items] | |||||
Treasury Stock, Shares, Acquired | 50,000 | 50,000 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number | 138,994 | 138,994 | 116,716 | ||
Incremental Common Shares Attributable to Dilutive Effect of Share-based Payment Arrangements | 132,075 | 101,780 | 137,653 | 111,193 | |
Common Stock [Member] | |||||
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items] | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Shares Issued in Period | 0 | 48,000 | 46,000 | ||
Treasury Stock, Shares, Acquired | 0 | 50,000 | 50,000 |
Earnings Per Common Share (Summary Of Computation Of Basic And Diluted Earnings Per Common Share) (Details) - USD ($) $ / shares in Units, $ in Thousands |
3 Months Ended | 6 Months Ended | ||
---|---|---|---|---|
Jun. 30, 2018 |
Jun. 30, 2017 |
Jun. 30, 2018 |
Jun. 30, 2017 |
|
Earnings Per Share [Abstract] | ||||
Income available to common shareholders | $ 28,241 | $ 19,032 | $ 59,364 | $ 39,299 |
Denominator for basic earnings per share (weighted average common shares outstanding) | 15,285,532 | 15,297,085 | 15,286,932 | 15,304,572 |
Effect of dilutive options and warrants | 132,075 | 101,780 | 137,653 | 111,193 |
Denominator for diluted earnings per share (weighted average common shares outstanding adjusted for the effect of dilutive options and warrants) | 15,417,607 | 15,398,865 | 15,424,585 | 15,415,765 |
Basic earnings per common share | $ 1.85 | $ 1.24 | $ 3.88 | $ 2.57 |
Diluted earnings per common share | $ 1.83 | $ 1.24 | $ 3.85 | $ 2.55 |
Segment Information (Schedule Of Operating Results By Segment) (Details) |
3 Months Ended | 6 Months Ended | |||
---|---|---|---|---|---|
Jun. 30, 2018
USD ($)
|
Jun. 30, 2017
USD ($)
|
Jun. 30, 2018
USD ($)
segments
|
Jun. 30, 2017
USD ($)
|
Dec. 31, 2017
USD ($)
|
|
Segment Reporting Information [Line Items] | |||||
Number of Operating Segments | segments | 3 | ||||
Net interest income | $ 64,742,000 | $ 59,778,000 | $ 129,592,000 | $ 118,730,000 | |
Provision for (recovery of) loan losses | 1,386,000 | 4,581,000 | 1,646,000 | 5,457,000 | |
Other income and security gains | 23,242,000 | 20,699,000 | 50,145,000 | 39,654,000 | |
Total other expense | 52,534,000 | 49,554,000 | 106,842,000 | 98,464,000 | |
Income (loss) before income taxes | 34,064,000 | 26,342,000 | 71,249,000 | 54,463,000 | |
Income Tax Expense (Benefit) | 5,823,000 | 7,310,000 | 11,885,000 | 15,164,000 | |
Net Income | 28,241,000 | 19,032,000 | 59,364,000 | 39,299,000 | |
Assets | 7,462,156,000 | 7,832,092,000 | 7,462,156,000 | 7,832,092,000 | $ 7,537,620,000 |
PNB [Member] | |||||
Segment Reporting Information [Line Items] | |||||
Net interest income | 62,683,000 | 57,822,000 | 124,124,000 | 115,302,000 | |
Provision for (recovery of) loan losses | 1,623,000 | 4,574,000 | 1,556,000 | 5,294,000 | |
Other income and security gains | 22,070,000 | 20,582,000 | 41,985,000 | 39,696,000 | |
Total other expense | 48,169,000 | 45,280,000 | 97,170,000 | 90,486,000 | |
Income (loss) before income taxes | 34,961,000 | 28,550,000 | 67,383,000 | 59,218,000 | |
Income Tax Expense (Benefit) | 6,164,000 | 8,387,000 | 11,841,000 | 17,569,000 | |
Net Income | 28,797,000 | 20,163,000 | 55,542,000 | 41,649,000 | |
Assets | 7,404,498,000 | 7,754,898,000 | 7,404,498,000 | 7,754,898,000 | |
GFSC [Member] | |||||
Segment Reporting Information [Line Items] | |||||
Net interest income | 1,261,000 | 1,491,000 | 2,566,000 | 2,969,000 | |
Provision for (recovery of) loan losses | 87,000 | 373,000 | 590,000 | 810,000 | |
Other income and security gains | 42,000 | 8,000 | 72,000 | 24,000 | |
Total other expense | 842,000 | 841,000 | 1,602,000 | 1,593,000 | |
Income (loss) before income taxes | 374,000 | 285,000 | 446,000 | 590,000 | |
Income Tax Expense (Benefit) | 79,000 | 99,000 | 94,000 | 206,000 | |
Net Income | 295,000 | 186,000 | 352,000 | 384,000 | |
Assets | 29,232,000 | 33,860,000 | 29,232,000 | 33,860,000 | |
SEPH [Member] | |||||
Segment Reporting Information [Line Items] | |||||
Net interest income | 616,000 | 282,000 | 2,493,000 | 483,000 | |
Provision for (recovery of) loan losses | (324,000) | (366,000) | (500,000) | (647,000) | |
Other income and security gains | 71,000 | 8,000 | 3,658,000 | 37,000 | |
Total other expense | 857,000 | 1,267,000 | 2,882,000 | 2,072,000 | |
Income (loss) before income taxes | 154,000 | (611,000) | 3,769,000 | (905,000) | |
Income Tax Expense (Benefit) | 32,000 | (213,000) | 791,000 | (316,000) | |
Net Income | 122,000 | (398,000) | 2,978,000 | (589,000) | |
Assets | 7,786,000 | 24,595,000 | 7,786,000 | 24,595,000 | |
All Other [Member] | |||||
Segment Reporting Information [Line Items] | |||||
Net interest income | 182,000 | 183,000 | 409,000 | (24,000) | |
Other income and security gains | 1,059,000 | 101,000 | 4,430,000 | (103,000) | |
Total other expense | 2,666,000 | 2,166,000 | 5,188,000 | 4,313,000 | |
Income (loss) before income taxes | (1,425,000) | (1,882,000) | (349,000) | (4,440,000) | |
Income Tax Expense (Benefit) | (452,000) | (963,000) | (841,000) | (2,295,000) | |
Net Income | (973,000) | (919,000) | 492,000 | (2,145,000) | |
Assets | $ 20,640,000 | $ 18,739,000 | $ 20,640,000 | $ 18,739,000 |
Mortgage Loans Held For Sale (Details) - USD ($) $ in Thousands |
6 Months Ended | 12 Months Ended |
---|---|---|
Jun. 30, 2018 |
Dec. 31, 2017 |
|
Mortgage Loans Held for Sale [Line Items] | ||
Mortgages Held-for-sale, Fair Value Disclosure | $ 8,154 | $ 4,148 |
Disposal Group, Including Discontinued Operation, Mortgage Loans | 8,000 | 4,100 |
Gain (Loss) on Sale of Mortgage Loans | $ 108 | $ 55 |
Investment Securities (Narrative) (Details) - USD ($) |
3 Months Ended | 6 Months Ended | ||
---|---|---|---|---|
Jun. 30, 2018 |
Jun. 30, 2018 |
Jun. 30, 2017 |
Dec. 31, 2017 |
|
Schedule of Investments [Line Items] | ||||
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 21.00% | |||
Investment Securities average remaining life | 4 years 11 months 5 days | |||
Available-for-sale Securities, Gross Realized Losses | $ 2,600,000 | |||
Debt securities held-to-maturity, at amortized cost (fair value of $348,192 and $363,779 at June 30, 2018 and December 31, 2017, respectively) | $ 351,431,000 | 351,431,000 | $ 357,197,000 | |
Debt Securities, Held-to-maturity, Sold, Realized Gain (Loss) | $ 291,000 | |||
percent of held to securities sold paid down | 96.30% | 96.30% | ||
Other than Temporary Impairment Losses, Investments | $ 0 | $ 0 | $ 0 | |
Available-for-sale Securities, Gross Realized Gains | $ 0.000 | |||
Asset backed securities mortgage portfolio, term | 15 years | |||
Available-for-sale securities | 1,127,511,000 | $ 1,127,511,000 | 1,097,645,000 | |
Securities sold at a gain [Member] | ||||
Schedule of Investments [Line Items] | ||||
Available-for-sale securities | 246,961,000 | 246,961,000 | ||
Securities sold at a gain [Member] | ||||
Schedule of Investments [Line Items] | ||||
Debt securities held-to-maturity, at amortized cost (fair value of $348,192 and $363,779 at June 30, 2018 and December 31, 2017, respectively) | 7,400,000 | 7,400,000 | ||
U.S. Government Sponsored Entities Asset-Backed Securities [Member] | ||||
Schedule of Investments [Line Items] | ||||
Debt securities held-to-maturity, at amortized cost (fair value of $348,192 and $363,779 at June 30, 2018 and December 31, 2017, respectively) | 47,192,000 | 47,192,000 | 56,785,000 | |
Collateral Pledged [Member] | ||||
Schedule of Investments [Line Items] | ||||
Debt Securities, Available-for-sale, Restricted | $ 618,000,000 | $ 618,000,000 | $ 557,000,000 |
Investment Securities (Schedule Of Investment Securities) (Details) - USD ($) $ in Thousands |
Jun. 30, 2018 |
Dec. 31, 2017 |
---|---|---|
Schedule of Investments [Line Items] | ||
Debt Securities, Available-for-sale, Amortized Cost | $ 1,127,511 | $ 1,097,645 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | 476 | 4,645 |
Securities Available-for-Sale, Gross Unrealized Holding Losses | 36,309 | 10,409 |
Debt Securities, Available-for-sale | 1,091,678 | 1,091,881 |
Securities Held-to-Maturity, Amortized Cost | 351,431 | 357,197 |
Securities Held-to-Maturity, Gross Unrecognized Holding Gains | 2,320 | 7,333 |
Securities Held-to-Maturity, Gross Unrecognized Holding Losses | 5,559 | 751 |
Securities held-to-maturity, fair value | 348,192 | 363,779 |
Obligations Of U.S. Treasury And Other U.S. Government Sponsored Entities [Member] | ||
Schedule of Investments [Line Items] | ||
Debt Securities, Available-for-sale, Amortized Cost | 245,000 | |
Securities Available-for-Sale, Gross Unrealized Holding Losses | 2,280 | |
Debt Securities, Available-for-sale | 242,720 | |
U.S. Government Sponsored Entities Asset-Backed Securities [Member] | ||
Schedule of Investments [Line Items] | ||
Debt Securities, Available-for-sale, Amortized Cost | 1,127,511 | 852,645 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | 476 | 4,645 |
Securities Available-for-Sale, Gross Unrealized Holding Losses | 36,309 | 8,129 |
Debt Securities, Available-for-sale | 1,091,678 | 849,161 |
Securities Held-to-Maturity, Amortized Cost | 47,192 | 56,785 |
Securities Held-to-Maturity, Gross Unrecognized Holding Gains | 95 | 758 |
Securities Held-to-Maturity, Gross Unrecognized Holding Losses | 1,236 | 38 |
Securities held-to-maturity, fair value | 46,051 | 57,505 |
US States and Political Subdivisions Debt Securities [Member] | ||
Schedule of Investments [Line Items] | ||
Securities Held-to-Maturity, Amortized Cost | 304,239 | 300,412 |
Securities Held-to-Maturity, Gross Unrecognized Holding Gains | 2,225 | 6,575 |
Securities Held-to-Maturity, Gross Unrecognized Holding Losses | 4,323 | 713 |
Securities held-to-maturity, fair value | $ 302,141 | $ 306,274 |
Investment Securities (Schedule Of Unrealized Loss On Securities) (Details) - USD ($) $ in Thousands |
Jun. 30, 2018 |
Dec. 31, 2017 |
---|---|---|
Schedule of Investments [Line Items] | ||
Securities Available-for-Sale, Less than 12 months, Fair value | $ 775,132 | $ 261,855 |
Securities Available-for-Sale, Less than 12 months, Unrealized losses | 19,613 | 2,856 |
Securities Available-for-Sale, 12 months or longer, Fair value | 279,486 | 536,586 |
Securities Available-for-Sale, 12 months or longer, Unrealized losses | 16,696 | 7,553 |
Securities Available-for-Sale, Fair value, Total | 1,054,618 | 798,441 |
Securities Available-for-Sale, Unrealized losses, Total | 36,309 | 10,409 |
Securities Held-to-Maturity, Less than 12 months, Fair value | 169,754 | 33,975 |
Securities Held-to-Maturity, Less than 12 months, Unrealized losses | 3,473 | 232 |
Securities Held-to-Maturity, 12 months or longer, Fair value | 58,541 | 45,498 |
Securities Held-to-Maturity, 12 months or longer, Unrealized losses | 2,086 | 519 |
Securities Held-to-Maturity, Fair value, Total | 228,295 | 79,473 |
Securities Held-to-Maturity, Unrealized losses, Total | 5,559 | 751 |
Obligations Of U.S. Treasury And Other U.S. Government Sponsored Entities [Member] | ||
Schedule of Investments [Line Items] | ||
Securities Available-for-Sale, Less than 12 months, Fair value | 24,931 | |
Securities Available-for-Sale, Less than 12 months, Unrealized losses | 70 | |
Securities Available-for-Sale, 12 months or longer, Fair value | 217,789 | |
Securities Available-for-Sale, 12 months or longer, Unrealized losses | 2,210 | |
Securities Available-for-Sale, Fair value, Total | 242,720 | |
Securities Available-for-Sale, Unrealized losses, Total | 2,280 | |
U.S. Government Sponsored Entities Asset-Backed Securities [Member] | ||
Schedule of Investments [Line Items] | ||
Securities Available-for-Sale, Less than 12 months, Fair value | 775,132 | 236,924 |
Securities Available-for-Sale, Less than 12 months, Unrealized losses | 19,613 | 2,786 |
Securities Available-for-Sale, 12 months or longer, Fair value | 279,486 | 318,797 |
Securities Available-for-Sale, 12 months or longer, Unrealized losses | 16,696 | 5,343 |
Securities Available-for-Sale, Fair value, Total | 1,054,618 | 555,721 |
Securities Available-for-Sale, Unrealized losses, Total | 36,309 | 8,129 |
Securities Held-to-Maturity, Less than 12 months, Fair value | 40,016 | 7,331 |
Securities Held-to-Maturity, Less than 12 months, Unrealized losses | 1,236 | 38 |
Securities Held-to-Maturity, 12 months or longer, Fair value | 0 | |
Securities Held-to-Maturity, 12 months or longer, Unrealized losses | 0 | |
Securities Held-to-Maturity, Fair value, Total | 40,016 | 7,331 |
Securities Held-to-Maturity, Unrealized losses, Total | 1,236 | 38 |
US States and Political Subdivisions Debt Securities [Member] | ||
Schedule of Investments [Line Items] | ||
Securities Held-to-Maturity, Less than 12 months, Fair value | 129,738 | 26,644 |
Securities Held-to-Maturity, Less than 12 months, Unrealized losses | 2,237 | 194 |
Securities Held-to-Maturity, 12 months or longer, Fair value | 58,541 | 45,498 |
Securities Held-to-Maturity, 12 months or longer, Unrealized losses | 2,086 | 519 |
Securities Held-to-Maturity, Fair value, Total | 188,279 | 72,142 |
Securities Held-to-Maturity, Unrealized losses, Total | $ 4,323 | $ 713 |
Investment Securities (Amortized Cost And Estimated Fair Value Of Investments In Debt Securities By Contractual Maturity) (Details) - USD ($) $ in Thousands |
Jun. 30, 2018 |
Dec. 31, 2017 |
---|---|---|
Schedule of Investments [Line Items] | ||
Securities Available-for-Sale, Total, Amortized cost | $ 1,127,511 | $ 1,097,645 |
Securities Available-for-Sale, Total Fair value | 1,091,678 | 1,091,881 |
Securities Held-to-Maturity, Amortized Cost | 351,431 | 357,197 |
Securities held-to-maturity, fair value | 348,192 | 363,779 |
US States and Political Subdivisions Debt Securities [Member] | ||
Schedule of Investments [Line Items] | ||
Debt Securities, Held-to-maturity, Maturity, Allocated and Single Maturity Date, after Five Through Ten Years, Amortized Cost | 2,438 | |
Debt Securities, Held-to-maturity, Maturity, Allocated and Single Maturity Date, after Five Through Ten Years, Fair Value | $ 2,395 | |
Held to Maturity Securities weighted avg yield five through ten | 2.97% | |
Held-to-maturity Securities, Debt Maturities, after Five Through Ten Years, Net Carrying Amount | $ 301,801 | |
Held-to-maturity Securities, Debt Maturities, Year Six Through Ten, Fair Value | $ 299,746 | |
Held to Maturity Securities Debt Maturities Years Over Ten weighted avg yield | 3.68% | |
Securities Held-to-Maturity, Amortized Cost | $ 304,239 | 300,412 |
Securities held-to-maturity, fair value | $ 302,141 | 306,274 |
Held to Maturity Securities weighted avg yield | 3.67% | |
Obligations Of U.S. Treasury And Other U.S. Government Sponsored Entities [Member] | ||
Schedule of Investments [Line Items] | ||
Securities Available-for-Sale, Total, Amortized cost | 245,000 | |
Securities Available-for-Sale, Total Fair value | 242,720 | |
U.S. Government Sponsored Entities Asset-Backed Securities [Member] | ||
Schedule of Investments [Line Items] | ||
Securities Available-for-Sale, Total, Amortized cost | $ 1,127,511 | 852,645 |
Securities Available-for-Sale, Total Fair value | $ 1,091,678 | 849,161 |
Available for Sale Securities Weighted Avg Yield | 2.35% | |
Securities Held-to-Maturity, Amortized Cost | $ 47,192 | 56,785 |
Securities held-to-maturity, fair value | $ 46,051 | $ 57,505 |
Held to Maturity Securities weighted avg yield | 2.83% |
Other Investment Securities (Schedule Of Other Investment Securities) (Details) - USD ($) $ in Thousands |
3 Months Ended | 6 Months Ended | |
---|---|---|---|
Jun. 30, 2018 |
Jun. 30, 2018 |
Dec. 31, 2017 |
|
Schedule of Investments [Line Items] | |||
Federal Home Loan Bank Stock | $ 50,086 | $ 50,086 | $ 50,086 |
Federal Reserve Bank Stock | 8,225 | 8,225 | 8,225 |
Equity investments carried at fair value | 9,229 | 9,229 | 1,935 |
Equity Method Investments | 2,589 | 2,589 | 3,500 |
Other investment securities | 70,129 | 70,129 | $ 63,746 |
Equity Securities, FV-NI, Unrealized Gain (Loss) | $ (304) | $ (3,793) |
Share Based Compensation Share Based Compensation (Details) - USD ($) $ in Thousands |
3 Months Ended | 6 Months Ended | |||
---|---|---|---|---|---|
Jun. 30, 2018 |
Jun. 30, 2017 |
Jun. 30, 2018 |
Jun. 30, 2017 |
Dec. 31, 2017 |
|
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized | $ 7,927 | $ 7,927 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number | 138,994 | 138,994 | 116,716 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period | (18,800) | (9,674) | |||
Shares Paid for Tax Withholding for Share Based Compensation | 5,879 | 3,293 | |||
Restricted Stock, Shares Issued Net of Shares for Tax Withholdings | 12,921 | 6,381 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeited in Period | (4,655) | ||||
Allocated Share-based Compensation Expense | $ 897 | $ 563 | $ 2,000 | $ 1,400 | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Period Increase (Decrease) | (2,320) | ||||
Expense to be paid next twelve months [Domain] | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized | 1,809 | $ 1,809 | |||
Expense to be paid Year Two [Domain] | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized | 3,084 | 3,084 | |||
Expense to be paid Year Three [Domain] | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized | 2,061 | 2,061 | |||
Expense to be paid Year Four [Domain] | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized | 841 | 841 | |||
Expense to be paid Year Five [Domain] | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized | $ 132 | $ 132 | |||
2017 Employees Long Term Incentive Plan [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 750,000 | 750,000 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | 703,410 | 703,410 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 48,053 | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 48,053 | ||||
2017 Non Employee Directors LTIP [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 150,000 | 150,000 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | 138,850 | 138,850 | |||
2013 Long Term Incentive Plan [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number | 92,404 | 92,404 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 600,000 | 600,000 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 45,788 |
Benefit Plan (Components Of Net Periodic Benefit Expense) (Details) - USD ($) $ in Thousands |
3 Months Ended | 6 Months Ended | ||
---|---|---|---|---|
Jun. 30, 2018 |
Jun. 30, 2017 |
Jun. 30, 2018 |
Jun. 30, 2017 |
|
Defined Benefit Plan Disclosure [Line Items] | ||||
Other components of net periodic benefit income | $ 1,705 | $ 1,448 | $ 3,410 | $ 2,896 |
Total other income | 23,242 | 20,699 | 50,145 | 39,654 |
Employee Benefits and Share-based Compensation | 7,630 | 6,206 | 14,659 | 12,674 |
Other expense | 1,665 | 1,749 | 3,575 | 3,405 |
Total other expense | 52,534 | 49,554 | 106,842 | 98,464 |
Service cost | 1,637 | 1,317 | 3,274 | 2,634 |
Interest cost | 1,309 | 1,271 | 2,618 | 2,542 |
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) | (68) | (131) | (136) | (262) |
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract] | ||||
Service cost | 1,637 | 1,317 | 3,274 | 2,634 |
Interest cost | 1,309 | 1,271 | 2,618 | 2,542 |
Expected return on plan assets | (3,354) | (2,863) | (6,708) | (5,726) |
Amortization of prior service cost | 0 | 0 | 0 | 0 |
Recognized net actuarial loss | 340 | 144 | 680 | 288 |
Benefit expense | (68) | (131) | (136) | (262) |
Pension plan contributions | 0 | 0 | 0 | 0 |
Supplemental Employee Retirement Plan [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Service cost | 244 | 185 | 478 | 370 |
Interest cost | 44 | 161 | 161 | 322 |
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) | 288 | 346 | 639 | 692 |
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract] | ||||
Service cost | 244 | 185 | 478 | 370 |
Interest cost | 44 | 161 | 161 | 322 |
Benefit expense | $ 288 | 346 | $ 639 | 692 |
Restatement Adjustment [Member] | Accounting Standards Update 2017-07 [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Other components of net periodic benefit income | 1,448 | 2,896 | ||
Total other income | 20,699 | 39,654 | ||
Employee Benefits and Share-based Compensation | 6,206 | 12,674 | ||
Other expense | 1,749 | 3,405 | ||
Total other expense | 49,554 | 98,464 | ||
Previously Reported [Member] | Accounting Standards Update 2017-07 [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Other components of net periodic benefit income | 0 | 0 | ||
Total other income | 19,251 | 36,758 | ||
Employee Benefits and Share-based Compensation | 4,919 | 10,100 | ||
Other expense | 1,588 | 3,083 | ||
Total other expense | $ 48,106 | $ 95,568 |
New accounting pronouncement benefit plans (Details) - USD ($) $ in Thousands |
3 Months Ended | 6 Months Ended | ||
---|---|---|---|---|
Jun. 30, 2018 |
Jun. 30, 2017 |
Jun. 30, 2018 |
Jun. 30, 2017 |
|
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||
Other components of net periodic benefit income | $ 1,705 | $ 1,448 | $ 3,410 | $ 2,896 |
Total other income | 23,242 | 20,699 | 50,145 | 39,654 |
Employee Benefits and Share-based Compensation | 7,630 | 6,206 | 14,659 | 12,674 |
Other Cost and Expense, Operating | 1,665 | 1,749 | 3,575 | 3,405 |
Total other expense | $ 52,534 | $ 49,554 | $ 106,842 | $ 98,464 |
Loan Servicing (Narrative) (Details) - USD ($) $ in Thousands |
3 Months Ended | 6 Months Ended | |||
---|---|---|---|---|---|
Jun. 30, 2018 |
Jun. 30, 2017 |
Jun. 30, 2018 |
Jun. 30, 2017 |
Dec. 31, 2017 |
|
Transfers and Servicing of Financial Assets [Abstract] | |||||
Serviced sold mortgage loans | $ 1,380,000 | $ 1,350,000 | $ 1,380,000 | $ 1,350,000 | $ 1,370,000 |
Serviced sold mortgage loans with recourse | 2,600 | 3,400 | 2,600 | 3,400 | $ 3,000 |
Servicing fees included in other service income | 900 | $ 900 | 1,800 | $ 1,800 | |
Mortgage Loans Sold with Recourse, Reserve | $ 43 | $ 43 |
Loan Servicing (Activity For MSRs And Related Valuation Allowance) (Details) - USD ($) |
3 Months Ended | 6 Months Ended | ||
---|---|---|---|---|
Jun. 30, 2018 |
Jun. 30, 2017 |
Jun. 30, 2018 |
Jun. 30, 2017 |
|
Servicing Asset at Amortized Value, Balance [Roll Forward] | ||||
Carrying amount, net, beginning of period | $ 9,969,000 | $ 9,321,000 | $ 9,688,000 | $ 9,266,000 |
Additions | 448,000 | 521,000 | 776,000 | 875,000 |
Amortization | (417,000) | (407,000) | (769,000) | (765,000) |
Changes in valuation inputs & assumptions | 77,000 | 41,000 | (382,000) | (100,000) |
Carrying amount, net, end of period | 10,077,000 | 9,476,000 | 10,077,000 | 9,476,000 |
Valuation Allowance for Impairment of Recognized Servicing Assets [Roll Forward] | ||||
Valuation allowance, beginning of period | 325,000 | 676,000 | 630,000 | 735,000 |
Changes in valuation allowance | 77,000 | 41,000 | 382,000 | 100,000 |
Valuation allowance, end of period | $ 248,000 | $ 635,000 | $ 248,000 | $ 635,000 |
Fair Value (Narrative) (Details) |
3 Months Ended | 6 Months Ended | 12 Months Ended | |||||
---|---|---|---|---|---|---|---|---|
Jun. 30, 2018
USD ($)
|
Jun. 30, 2017
USD ($)
|
Jun. 30, 2018
USD ($)
|
Jun. 30, 2017
USD ($)
|
Dec. 31, 2017
USD ($)
|
Mar. 31, 2018
USD ($)
|
Mar. 31, 2017
USD ($)
|
Dec. 31, 2016
USD ($)
|
|
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||||||
Alternative Investment | $ 70,129,000 | $ 70,129,000 | $ 63,746,000 | |||||
Loans Held-for-sale, Fair Value Disclosure | 8,154,000 | 8,154,000 | 4,148,000 | |||||
Impaired Financing Receivable, Carrying Value | 60,354,000 | $ 60,354,000 | 55,880,000 | |||||
Discount percentage applied to real estate appraised values | 15.00% | |||||||
Discount percentage applied to lot development appraised values | 6.00% | |||||||
Partial Charge-Offs On Impaired Loans | $ 11,384,000 | 10,040,000 | ||||||
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | 1,396,000 | 1,396,000 | 684,000 | |||||
Impaired Financing Receivable, Related Allowance | 1,396,000 | 1,396,000 | 684,000 | |||||
Impaired Loan Fair Value | 6,470,000 | 6,470,000 | 3,574,000 | |||||
Partial Charge-Offs On Impaired Loans carried at Fair Value | 4,075,000 | 2,780,000 | ||||||
Book Value Of Impaired Loans Carried At Fair Value | 6,499,000 | 6,499,000 | 3,577,000 | |||||
Impaired Financing Receivable, carried at fair value, related expense | 200,000 | $ 100,000 | 300,000 | $ 500,000 | ||||
MSR recorded at lower of cost or fair value | 10,077,000 | 9,476,000 | 10,077,000 | 9,476,000 | 9,688,000 | $ 9,969,000 | $ 9,321,000 | $ 9,266,000 |
Mortgage Servicing Rights Fair Value | 900,000 | 900,000 | 7,300,000 | |||||
Valuation allowance of MSR | 248,000 | 635,000 | 248,000 | 635,000 | 630,000 | $ 325,000 | $ 676,000 | $ 735,000 |
MSRs recorded at cost | 9,200,000 | 9,200,000 | 2,400,000 | |||||
Changes due to fair value adjustments | 77,000 | 41,000 | 382,000 | 100,000 | ||||
Other Real Estate, Foreclosed Assets, and Repossessed Assets | $ 5,729,000 | $ 5,729,000 | $ 14,190,000 | |||||
Percent of OREO held at fair value | 75.144% | 75.144% | 45.94785% | |||||
Other Real Estate, Foreclosed Assets, and Repossessed Assets, Fair Value | $ 4,300,000 | $ 4,300,000 | $ 6,520,000 | |||||
OREO valuation adjustments | 114,000 | $ 272,000 | 321,000 | $ 345,000 | ||||
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share, Unfunded Commitments | 7,100,000 | 7,100,000 | 7,200,000 | |||||
Alternative Investment, income recognized | 752,000 | |||||||
Commercial Receivables, excluding Commercial, Financial, and Agricultural [Domain] | ||||||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||||||
Impaired Financing Receivable, Related Allowance | 29,000 | 29,000 | 3,000 | |||||
Financing Receivable, not collateral dependent [Domain] | ||||||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||||||
Impaired Financing Receivable, Related Allowance | 1,367,000 | 1,367,000 | 681,000 | |||||
Commercial Real Estate Portfolio Segment [Member] | ||||||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||||||
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | 27,000 | 27,000 | 2,000 | |||||
Construction Real Estate [Member] | ||||||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||||||
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | 0 | 0 | 0 | |||||
Other Real Estate, Foreclosed Assets, and Repossessed Assets | 2,425,000 | 2,425,000 | 4,852,000 | |||||
Residential Real Estate [Member] | ||||||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||||||
Other Real Estate, Foreclosed Assets, and Repossessed Assets | 1,009,000 | 1,009,000 | 1,450,000 | |||||
Retained Earnings [Member] | ||||||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||||||
New Accounting Pronouncement or Change in Accounting Principle, Cumulative Effect of Change on Equity or Net Assets | 3,806,000 | |||||||
Accounting Standards Update 2016-01 [Member] | Assets [Member] | ||||||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||||||
New Accounting Pronouncement or Change in Accounting Principle, Cumulative Effect of Change on Equity or Net Assets | 1,200,000 | 1,200,000 | ||||||
Accounting Standards Update 2016-01 [Member] | Retained Earnings [Member] | ||||||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||||||
New Accounting Pronouncement or Change in Accounting Principle, Cumulative Effect of Change on Equity or Net Assets | 1,917,000 | 1,917,000 | ||||||
Accounting Standards Update 2016-01 [Member] | Retained Earnings [Member] | Assets [Member] | ||||||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||||||
New Accounting Pronouncement or Change in Accounting Principle, Cumulative Effect of Change on Equity or Net Assets | 922,000 | 922,000 | ||||||
Fair Value Measured at Net Asset Value Per Share [Member] | ||||||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||||||
Alternative Investment | 9,400,000 | 9,400,000 | 8,800,000 | |||||
Fair Value, Inputs, Level 3 [Member] | ||||||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||||||
Impaired Loan Fair Value | $ 6,470,000 | $ 6,470,000 | $ 3,574,000 | |||||
Measurement Input, Comparability Adjustment [Member] | Fair Value, Inputs, Level 3 [Member] | Valuation, Market Approach [Member] | Maximum [Member] | Commercial Real Estate Portfolio Segment [Member] | Loans Receivable [Member] | ||||||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||||||
Impaired Loans Receivable, Measurement Input | 0.550 | 0.550 | 0.900 | |||||
Measurement Input, Comparability Adjustment [Member] | Fair Value, Inputs, Level 3 [Member] | Valuation, Market Approach [Member] | Maximum [Member] | Commercial Real Estate Portfolio Segment [Member] | Real Estate [Member] | ||||||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||||||
Other Real Estate Owned, Measurement Input | 0.684 | 0.684 | 0.684 | |||||
Measurement Input, Comparability Adjustment [Member] | Fair Value, Inputs, Level 3 [Member] | Valuation, Market Approach [Member] | Maximum [Member] | Construction Real Estate [Member] | Loans Receivable [Member] | ||||||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||||||
Impaired Loans Receivable, Measurement Input | 0.900 | 0.900 | 0.048 | |||||
Measurement Input, Comparability Adjustment [Member] | Fair Value, Inputs, Level 3 [Member] | Valuation, Market Approach [Member] | Maximum [Member] | Construction Real Estate [Member] | Real Estate [Member] | ||||||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||||||
Other Real Estate Owned, Measurement Input | 0.450 | 0.450 | 0.900 | |||||
Measurement Input, Comparability Adjustment [Member] | Fair Value, Inputs, Level 3 [Member] | Valuation, Market Approach [Member] | Maximum [Member] | Residential Real Estate [Member] | Loans Receivable [Member] | ||||||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||||||
Impaired Loans Receivable, Measurement Input | 0.400 | 0.400 | 0.330 | |||||
Measurement Input, Comparability Adjustment [Member] | Fair Value, Inputs, Level 3 [Member] | Valuation, Market Approach [Member] | Maximum [Member] | Residential Real Estate [Member] | Real Estate [Member] | ||||||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||||||
Other Real Estate Owned, Measurement Input | 0.546 | 0.546 | 0.797 | |||||
Measurement Input, Comparability Adjustment [Member] | Fair Value, Inputs, Level 3 [Member] | Valuation, Market Approach [Member] | Weighted Average [Member] | Commercial Real Estate Portfolio Segment [Member] | Loans Receivable [Member] | ||||||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||||||
Impaired Loans Receivable, Measurement Input | 0.254 | 0.254 | 0.227 | |||||
Measurement Input, Comparability Adjustment [Member] | Fair Value, Inputs, Level 3 [Member] | Valuation, Market Approach [Member] | Weighted Average [Member] | Commercial Real Estate Portfolio Segment [Member] | Real Estate [Member] | ||||||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||||||
Other Real Estate Owned, Measurement Input | 0.347 | 0.347 | 0.347 | |||||
Measurement Input, Comparability Adjustment [Member] | Fair Value, Inputs, Level 3 [Member] | Valuation, Market Approach [Member] | Weighted Average [Member] | Construction Real Estate [Member] | Loans Receivable [Member] | ||||||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||||||
Impaired Loans Receivable, Measurement Input | 0.261 | 0.261 | 0.024 | |||||
Measurement Input, Comparability Adjustment [Member] | Fair Value, Inputs, Level 3 [Member] | Valuation, Market Approach [Member] | Weighted Average [Member] | Construction Real Estate [Member] | Real Estate [Member] | ||||||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||||||
Other Real Estate Owned, Measurement Input | 0.217 | 0.217 | 0.245 | |||||
Measurement Input, Comparability Adjustment [Member] | Fair Value, Inputs, Level 3 [Member] | Valuation, Market Approach [Member] | Weighted Average [Member] | Residential Real Estate [Member] | Loans Receivable [Member] | ||||||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||||||
Impaired Loans Receivable, Measurement Input | 0.185 | 0.185 | 0.125 | |||||
Measurement Input, Comparability Adjustment [Member] | Fair Value, Inputs, Level 3 [Member] | Valuation, Market Approach [Member] | Weighted Average [Member] | Residential Real Estate [Member] | Real Estate [Member] | ||||||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||||||
Other Real Estate Owned, Measurement Input | 0.332 | 0.332 | 0.318 | |||||
Measurement Input, Comparability Adjustment [Member] | Fair Value, Inputs, Level 3 [Member] | Valuation, Market Approach [Member] | Minimum [Member] | Commercial Real Estate Portfolio Segment [Member] | Loans Receivable [Member] | ||||||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||||||
Impaired Loans Receivable, Measurement Input | 0.000 | 0.000 | 0.000 | |||||
Measurement Input, Comparability Adjustment [Member] | Fair Value, Inputs, Level 3 [Member] | Valuation, Market Approach [Member] | Minimum [Member] | Commercial Real Estate Portfolio Segment [Member] | Real Estate [Member] | ||||||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||||||
Other Real Estate Owned, Measurement Input | 0.009 | 0.009 | 0.009 | |||||
Measurement Input, Comparability Adjustment [Member] | Fair Value, Inputs, Level 3 [Member] | Valuation, Market Approach [Member] | Minimum [Member] | Construction Real Estate [Member] | Loans Receivable [Member] | ||||||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||||||
Impaired Loans Receivable, Measurement Input | 0.050 | 0.050 | 0.000 | |||||
Measurement Input, Comparability Adjustment [Member] | Fair Value, Inputs, Level 3 [Member] | Valuation, Market Approach [Member] | Minimum [Member] | Construction Real Estate [Member] | Real Estate [Member] | ||||||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||||||
Other Real Estate Owned, Measurement Input | 0.000 | 0.000 | 0.000 | |||||
Measurement Input, Comparability Adjustment [Member] | Fair Value, Inputs, Level 3 [Member] | Valuation, Market Approach [Member] | Minimum [Member] | Residential Real Estate [Member] | Loans Receivable [Member] | ||||||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||||||
Impaired Loans Receivable, Measurement Input | 0.017 | 0.017 | 0.003 | |||||
Measurement Input, Comparability Adjustment [Member] | Fair Value, Inputs, Level 3 [Member] | Valuation, Market Approach [Member] | Minimum [Member] | Residential Real Estate [Member] | Real Estate [Member] | ||||||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||||||
Other Real Estate Owned, Measurement Input | 0.004 | 0.004 | 0.012 | |||||
Measurement Input, Cap Rate [Member] | Fair Value, Inputs, Level 3 [Member] | Valuation, Income Approach [Member] | Maximum [Member] | Commercial Real Estate Portfolio Segment [Member] | Loans Receivable [Member] | ||||||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||||||
Impaired Loans Receivable, Measurement Input | 0.118 | 0.118 | 0.110 | |||||
Measurement Input, Cap Rate [Member] | Fair Value, Inputs, Level 3 [Member] | Valuation, Income Approach [Member] | Maximum [Member] | Commercial Real Estate Portfolio Segment [Member] | Real Estate [Member] | ||||||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||||||
Other Real Estate Owned, Measurement Input | 0.130 | 0.130 | 0.130 | |||||
Measurement Input, Cap Rate [Member] | Fair Value, Inputs, Level 3 [Member] | Valuation, Income Approach [Member] | Maximum [Member] | Residential Real Estate [Member] | Loans Receivable [Member] | ||||||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||||||
Impaired Loans Receivable, Measurement Input | 0.105 | 0.105 | 0.105 | |||||
Measurement Input, Cap Rate [Member] | Fair Value, Inputs, Level 3 [Member] | Valuation, Income Approach [Member] | Weighted Average [Member] | Commercial Real Estate Portfolio Segment [Member] | Loans Receivable [Member] | ||||||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||||||
Impaired Loans Receivable, Measurement Input | 0.115 | 0.115 | 0.099 | |||||
Measurement Input, Cap Rate [Member] | Fair Value, Inputs, Level 3 [Member] | Valuation, Income Approach [Member] | Weighted Average [Member] | Commercial Real Estate Portfolio Segment [Member] | Real Estate [Member] | ||||||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||||||
Other Real Estate Owned, Measurement Input | 0.130 | 0.130 | 0.130 | |||||
Measurement Input, Cap Rate [Member] | Fair Value, Inputs, Level 3 [Member] | Valuation, Income Approach [Member] | Weighted Average [Member] | Residential Real Estate [Member] | Loans Receivable [Member] | ||||||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||||||
Impaired Loans Receivable, Measurement Input | 0.105 | 0.105 | 0.105 | |||||
Measurement Input, Cap Rate [Member] | Fair Value, Inputs, Level 3 [Member] | Valuation, Income Approach [Member] | Minimum [Member] | Commercial Real Estate Portfolio Segment [Member] | Loans Receivable [Member] | ||||||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||||||
Impaired Loans Receivable, Measurement Input | 0.106 | 0.106 | 0.090 | |||||
Measurement Input, Cap Rate [Member] | Fair Value, Inputs, Level 3 [Member] | Valuation, Income Approach [Member] | Minimum [Member] | Commercial Real Estate Portfolio Segment [Member] | Real Estate [Member] | ||||||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||||||
Other Real Estate Owned, Measurement Input | 0.130 | 0.130 | 0.130 | |||||
Measurement Input, Cap Rate [Member] | Fair Value, Inputs, Level 3 [Member] | Valuation, Income Approach [Member] | Minimum [Member] | Residential Real Estate [Member] | Loans Receivable [Member] | ||||||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||||||
Impaired Loans Receivable, Measurement Input | 0.105 | 0.105 | 0.105 | |||||
Measurement input replacement cost [Member] | Fair Value, Inputs, Level 3 [Member] | Valuation, Cost Approach [Member] | Maximum [Member] | Commercial Real Estate Portfolio Segment [Member] | Loans Receivable [Member] | ||||||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||||||
Impaired Loans Receivable, Measurement Input | 0.901 | 0.901 | 0.901 | |||||
Measurement input replacement cost [Member] | Fair Value, Inputs, Level 3 [Member] | Valuation, Cost Approach [Member] | Weighted Average [Member] | Commercial Real Estate Portfolio Segment [Member] | Loans Receivable [Member] | ||||||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||||||
Impaired Loans Receivable, Measurement Input | 0.131 | 0.131 | 0.901 | |||||
Measurement input replacement cost [Member] | Fair Value, Inputs, Level 3 [Member] | Valuation, Cost Approach [Member] | Minimum [Member] | Commercial Real Estate Portfolio Segment [Member] | Loans Receivable [Member] | ||||||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||||||
Impaired Loans Receivable, Measurement Input | 0.037 | 0.037 | 0.901 |
Fair Value (Assets And Liabilities Measured At Fair Value On A Recurring Basis) (Details) - USD ($) $ in Thousands |
Jun. 30, 2018 |
Dec. 31, 2017 |
---|---|---|
Obligations Of U.S. Treasury And Other U.S. Government Sponsored Entities [Member] | Fair Value, Measurements, Recurring [Member] | ||
Fair Value, Assets And Liabilities Measured On Recurring Basis [Line Items] | ||
Investment securities | $ 242,720 | |
Obligations Of U.S. Treasury And Other U.S. Government Sponsored Entities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Fair Value, Assets And Liabilities Measured On Recurring Basis [Line Items] | ||
Investment securities | 242,720 | |
ERROR in label resolution. | Fair Value, Measurements, Recurring [Member] | ||
Fair Value, Assets And Liabilities Measured On Recurring Basis [Line Items] | ||
Investment securities | $ 1,091,678 | 849,161 |
ERROR in label resolution. | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Fair Value, Assets And Liabilities Measured On Recurring Basis [Line Items] | ||
Investment securities | 1,091,678 | 849,161 |
Other Equity Securities [Member] | ||
Fair Value, Assets And Liabilities Measured On Recurring Basis [Line Items] | ||
Investment securities | 9,229 | 1,935 |
Other Equity Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Fair Value, Assets And Liabilities Measured On Recurring Basis [Line Items] | ||
Investment securities | 8,809 | 1,518 |
Other Equity Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value, Assets And Liabilities Measured On Recurring Basis [Line Items] | ||
Investment securities | 420 | 417 |
Other Equity Securities [Member] | Fair Value, Measurements, Recurring [Member] | ||
Fair Value, Assets And Liabilities Measured On Recurring Basis [Line Items] | ||
Investment securities | 9,229 | 1,935 |
Other Equity Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Fair Value, Assets And Liabilities Measured On Recurring Basis [Line Items] | ||
Investment securities | 8,809 | 1,518 |
Other Equity Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value, Assets And Liabilities Measured On Recurring Basis [Line Items] | ||
Investment securities | 420 | 417 |
Swap [Member] | ||
Fair Value, Assets And Liabilities Measured On Recurring Basis [Line Items] | ||
Swap | 226 | 226 |
Swap [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value, Assets And Liabilities Measured On Recurring Basis [Line Items] | ||
Swap | 226 | 226 |
Swap [Member] | Fair Value, Measurements, Recurring [Member] | ||
Fair Value, Assets And Liabilities Measured On Recurring Basis [Line Items] | ||
Swap | 226 | 226 |
Swap [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value, Assets And Liabilities Measured On Recurring Basis [Line Items] | ||
Swap | 226 | 226 |
Cash and Cash Equivalents, Fair Value Disclosure | 146,159 | 169,112 |
Mortgage loans held for sale | 8,154 | 4,148 |
Investment securities | 1,439,870 | 1,455,660 |
Loans Held-for-sale, Fair Value Disclosure | 8,154 | 4,148 |
Impaired Loan Fair Value | 6,470 | 3,574 |
Other Assets, Fair Value Disclosure | 5,204,775 | 5,247,021 |
Loans Receivable, Fair Value Disclosure | 5,219,540 | 5,254,837 |
Time deposits | 1,026,550 | 1,035,093 |
Other Liabilities, Fair Value Disclosure | 3,967 | 1,269 |
Deposits, Fair Value Disclosure | 1,030,517 | 1,036,362 |
Short Term Borrowings Fair Value | 216,139 | 391,289 |
Long-term debt | 398,668 | 504,503 |
Subordinated Debt Obligations, Fair Value Disclosure | 13,161 | 13,370 |
Fair Value, Inputs, Level 1 [Member] | ||
Fair Value, Assets And Liabilities Measured On Recurring Basis [Line Items] | ||
Cash and Cash Equivalents, Fair Value Disclosure | 146,159 | 169,112 |
Mortgage IRLCs | 0 | 0 |
Other Liabilities, Fair Value Disclosure | 3,967 | 1,269 |
Deposits, Fair Value Disclosure | 3,967 | 1,269 |
Fair Value, Inputs, Level 2 [Member] | ||
Fair Value, Assets And Liabilities Measured On Recurring Basis [Line Items] | ||
Mortgage IRLCs | 141 | 94 |
Investment securities | 1,439,870 | 1,455,660 |
Loans Held-for-sale, Fair Value Disclosure | 8,154 | 4,148 |
Loans Receivable, Fair Value Disclosure | 8,295 | 4,242 |
Time deposits | 1,026,550 | 1,035,093 |
Other Liabilities, Fair Value Disclosure | ||
Deposits, Fair Value Disclosure | 1,026,550 | 1,035,093 |
Short Term Borrowings Fair Value | 216,139 | 391,289 |
Long-term debt | 398,668 | 504,503 |
Subordinated Debt Obligations, Fair Value Disclosure | 13,161 | 13,370 |
Fair Value, Inputs, Level 3 [Member] | ||
Fair Value, Assets And Liabilities Measured On Recurring Basis [Line Items] | ||
Mortgage IRLCs | 0 | 0 |
Impaired Loan Fair Value | 6,470 | 3,574 |
Other Assets, Fair Value Disclosure | 5,204,775 | 5,247,021 |
Loans Receivable, Fair Value Disclosure | 5,211,245 | 5,250,595 |
Fair Value, Measurements, Recurring [Member] | ||
Fair Value, Assets And Liabilities Measured On Recurring Basis [Line Items] | ||
Mortgage loans held for sale | 8,154 | 4,148 |
Mortgage IRLCs | 141 | 94 |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Fair Value, Assets And Liabilities Measured On Recurring Basis [Line Items] | ||
Mortgage loans held for sale | 8,154 | 4,148 |
Mortgage IRLCs | 141 | 94 |
Reported Value Measurement [Member] | Other Equity Securities [Member] | ||
Fair Value, Assets And Liabilities Measured On Recurring Basis [Line Items] | ||
Investment securities | 9,229 | 1,935 |
Reported Value Measurement [Member] | Swap [Member] | ||
Fair Value, Assets And Liabilities Measured On Recurring Basis [Line Items] | ||
Swap | 226 | 226 |
Reported Value Measurement [Member] | ||
Fair Value, Assets And Liabilities Measured On Recurring Basis [Line Items] | ||
Cash and Cash Equivalents, Fair Value Disclosure | 146,159 | 169,112 |
Mortgage IRLCs | 141 | 94 |
Investment securities | 1,443,109 | 1,449,078 |
Loans Held-for-sale, Fair Value Disclosure | 8,154 | 4,148 |
Impaired Loan Fair Value | 6,470 | 3,574 |
Other Assets, Fair Value Disclosure | 5,260,757 | 5,314,679 |
Loans Receivable, Fair Value Disclosure | 5,275,522 | 5,322,495 |
Time deposits | 1,026,920 | 1,033,476 |
Other Liabilities, Fair Value Disclosure | 3,967 | 1,269 |
Deposits, Fair Value Disclosure | 1,030,887 | 1,034,745 |
Short Term Borrowings Fair Value | 216,139 | 391,289 |
Long-term debt | 400,000 | 500,000 |
Subordinated Debt Obligations, Fair Value Disclosure | $ 15,000 | $ 15,000 |
Fair Value (Reconciliation Of Level 3 Input For Financial Instruments Measured On Recurring Basis) (Details) - Fair Value, Inputs, Level 3 [Member] - Fair Value, Measurements, Recurring [Member] - USD ($) $ in Thousands |
3 Months Ended | 6 Months Ended | ||
---|---|---|---|---|
Jun. 30, 2018 |
Jun. 30, 2017 |
Jun. 30, 2018 |
Jun. 30, 2017 |
|
Other Equity Securities [Member] | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers out of Level 3 | $ (330) | $ (346) | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||||
Balance, beginning | $ 420 | 776 | $ 417 | 790 |
Included in other comprehensive income | 0 | 12 | 3 | 14 |
Balance, ending | 420 | 458 | 420 | 458 |
Swap [Member] | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers out of Level 3 | 0 | 0 | ||
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||||
Balance, Beginning of Period | (226) | (226) | (226) | (226) |
Included in other comprehensive income | 0 | 0 | 0 | 0 |
Balance, End of Period | $ (226) | $ (226) | $ (226) | $ (226) |
Fair Value (Fair Value Of Financial Instruments) (Details) - USD ($) $ in Thousands |
Jun. 30, 2018 |
Dec. 31, 2017 |
---|---|---|
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Cash and money market instruments | $ 146,159 | $ 169,112 |
Investment securities | 1,439,870 | 1,455,660 |
Federal Home Loan Bank Stock | 50,086 | 50,086 |
Federal Reserve Bank Stock | 8,225 | 8,225 |
Loans Held-for-sale, Fair Value Disclosure | 8,154 | 4,148 |
Impaired Loan Fair Value | 6,470 | 3,574 |
Other loans | 5,204,775 | 5,247,021 |
Loans receivable, net | 5,219,540 | 5,254,837 |
Time deposits | 1,026,550 | 1,035,093 |
Other | 3,967 | 1,269 |
Total deposits | 1,030,517 | 1,036,362 |
Short-term borrowings | 216,139 | 391,289 |
Long-term debt | 398,668 | 504,503 |
Subordinated debentures/notes | 13,161 | 13,370 |
Other Equity Securities [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investment securities | 9,229 | 1,935 |
Swap [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Swap | 226 | 226 |
Reported Value Measurement [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Cash and money market instruments | 146,159 | 169,112 |
Investment securities | 1,443,109 | 1,449,078 |
Loans Held-for-sale, Fair Value Disclosure | 8,154 | 4,148 |
Derivative Assets | 141 | 94 |
Impaired Loan Fair Value | 6,470 | 3,574 |
Other loans | 5,260,757 | 5,314,679 |
Loans receivable, net | 5,275,522 | 5,322,495 |
Time deposits | 1,026,920 | 1,033,476 |
Other | 3,967 | 1,269 |
Total deposits | 1,030,887 | 1,034,745 |
Short-term borrowings | 216,139 | 391,289 |
Long-term debt | 400,000 | 500,000 |
Subordinated debentures/notes | 15,000 | 15,000 |
Reported Value Measurement [Member] | Other Equity Securities [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investment securities | 9,229 | 1,935 |
Reported Value Measurement [Member] | Swap [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Swap | 226 | 226 |
Estimate of Fair Value Measurement [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Derivative Assets | 141 | 94 |
Impaired Loan Fair Value | 3,574 | |
Fair Value, Inputs, Level 1 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Cash and money market instruments | 146,159 | 169,112 |
Derivative Assets | 0 | 0 |
Other | 3,967 | 1,269 |
Total deposits | 3,967 | 1,269 |
Fair Value, Inputs, Level 1 [Member] | Other Equity Securities [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investment securities | 8,809 | 1,518 |
Fair Value, Inputs, Level 2 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investment securities | 1,439,870 | 1,455,660 |
Loans Held-for-sale, Fair Value Disclosure | 8,154 | 4,148 |
Derivative Assets | 141 | 94 |
Loans receivable, net | 8,295 | 4,242 |
Time deposits | 1,026,550 | 1,035,093 |
Other | ||
Total deposits | 1,026,550 | 1,035,093 |
Short-term borrowings | 216,139 | 391,289 |
Long-term debt | 398,668 | 504,503 |
Subordinated debentures/notes | 13,161 | 13,370 |
Fair Value, Inputs, Level 3 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Derivative Assets | 0 | 0 |
Impaired Loan Fair Value | 6,470 | 3,574 |
Other loans | 5,204,775 | 5,247,021 |
Loans receivable, net | 5,211,245 | 5,250,595 |
Fair Value, Inputs, Level 3 [Member] | Other Equity Securities [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investment securities | 420 | 417 |
Fair Value, Inputs, Level 3 [Member] | Swap [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Swap | $ 226 | $ 226 |
Fair Value Qualitative information about Level 3 fair value measurements (Details) $ in Thousands |
Jun. 30, 2018
USD ($)
|
Dec. 31, 2017
USD ($)
|
---|---|---|
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31) | ||
Loans Receivable, Fair Value Disclosure | $ 5,219,540 | $ 5,254,837 |
Impaired Loan Fair Value | 6,470 | 3,574 |
Other Assets, Fair Value Disclosure | 5,204,775 | 5,247,021 |
Loans Held-for-sale, Fair Value Disclosure | 8,154 | 4,148 |
Fair Value, Inputs, Level 3 [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31) | ||
Loans Receivable, Fair Value Disclosure | 5,211,245 | 5,250,595 |
Impaired Loan Fair Value | 6,470 | 3,574 |
Other Assets, Fair Value Disclosure | 5,204,775 | 5,247,021 |
Fair Value, Measurements, Nonrecurring [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31) | ||
Loans Receivable, Fair Value Disclosure | 6,470 | 3,574 |
Other Assets, Fair Value Disclosure | 4,305 | 6,520 |
Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31) | ||
Loans Receivable, Fair Value Disclosure | 6,470 | 3,574 |
Other Assets, Fair Value Disclosure | 4,305 | 6,520 |
Fair Value, Measurements, Nonrecurring [Member] | Construction Real Estate [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31) | ||
Other Assets, Fair Value Disclosure | 1,123 | 3,204 |
Fair Value, Measurements, Nonrecurring [Member] | Construction Real Estate [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31) | ||
Other Assets, Fair Value Disclosure | 1,123 | 3,204 |
Fair Value, Measurements, Nonrecurring [Member] | Construction Real Estate [Member] | Real Estate [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31) | ||
Other Assets, Fair Value Disclosure | 1,123 | 3,204 |
Fair Value, Measurements, Nonrecurring [Member] | Commercial Real Estate Portfolio Segment [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31) | ||
Loans Receivable, Fair Value Disclosure | 4,192 | 2,735 |
Fair Value, Measurements, Nonrecurring [Member] | Commercial Real Estate Portfolio Segment [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31) | ||
Loans Receivable, Fair Value Disclosure | 4,192 | 2,735 |
Fair Value, Measurements, Nonrecurring [Member] | Commercial Real Estate Portfolio Segment [Member] | Loans Receivable [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31) | ||
Impaired Loan Fair Value | 2,735 | |
Fair Value, Measurements, Nonrecurring [Member] | Commercial Real Estate Portfolio Segment [Member] | Real Estate [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31) | ||
Other Assets, Fair Value Disclosure | 2,295 | 2,295 |
Fair Value, Measurements, Nonrecurring [Member] | Construction Real Estate - Remaining Commercial [Member] | Loans Receivable [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31) | ||
Impaired Loan Fair Value | 127 | |
Fair Value, Measurements, Nonrecurring [Member] | Residential Real Estate [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31) | ||
Other Assets, Fair Value Disclosure | 887 | 1,021 |
Fair Value, Measurements, Nonrecurring [Member] | Residential Real Estate [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31) | ||
Other Assets, Fair Value Disclosure | 887 | 1,021 |
Fair Value, Measurements, Nonrecurring [Member] | Residential Real Estate [Member] | Loans Receivable [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31) | ||
Impaired Loan Fair Value | 712 | |
Fair Value, Measurements, Nonrecurring [Member] | Residential Real Estate [Member] | Real Estate [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31) | ||
Other Assets, Fair Value Disclosure | 887 | 1,021 |
Fair Value [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31) | ||
Impaired Loan Fair Value | $ 3,574 | |
Fair Value [Member] | Fair Value, Measurements, Nonrecurring [Member] | Commercial Real Estate Portfolio Segment [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31) | ||
Loans Receivable, Fair Value Disclosure | 4,192 | |
Fair Value [Member] | Fair Value, Measurements, Nonrecurring [Member] | Residential Real Estate [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31) | ||
Loans Receivable, Fair Value Disclosure | $ 643 | |
Measurement Input, Comparability Adjustment [Member] | Construction Real Estate [Member] | Loans Receivable [Member] | Minimum [Member] | Valuation, Market Approach [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31) | ||
Impaired Loans Receivable, Measurement Input | 0.050 | 0.000 |
Measurement Input, Comparability Adjustment [Member] | Construction Real Estate [Member] | Loans Receivable [Member] | Maximum [Member] | Valuation, Market Approach [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31) | ||
Impaired Loans Receivable, Measurement Input | 0.900 | 0.048 |
Measurement Input, Comparability Adjustment [Member] | Construction Real Estate [Member] | Loans Receivable [Member] | Weighted Average [Member] | Valuation, Market Approach [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31) | ||
Impaired Loans Receivable, Measurement Input | 0.261 | 0.024 |
Measurement Input, Comparability Adjustment [Member] | Construction Real Estate [Member] | Real Estate [Member] | Minimum [Member] | Valuation, Market Approach [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31) | ||
Other Real Estate Owned, Measurement Input | 0.000 | 0.000 |
Measurement Input, Comparability Adjustment [Member] | Construction Real Estate [Member] | Real Estate [Member] | Maximum [Member] | Valuation, Market Approach [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31) | ||
Other Real Estate Owned, Measurement Input | 0.450 | 0.900 |
Measurement Input, Comparability Adjustment [Member] | Construction Real Estate [Member] | Real Estate [Member] | Weighted Average [Member] | Valuation, Market Approach [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31) | ||
Other Real Estate Owned, Measurement Input | 0.217 | 0.245 |
Measurement Input, Comparability Adjustment [Member] | Commercial Real Estate Portfolio Segment [Member] | Loans Receivable [Member] | Minimum [Member] | Valuation, Market Approach [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31) | ||
Impaired Loans Receivable, Measurement Input | 0.000 | 0.000 |
Measurement Input, Comparability Adjustment [Member] | Commercial Real Estate Portfolio Segment [Member] | Loans Receivable [Member] | Maximum [Member] | Valuation, Market Approach [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31) | ||
Impaired Loans Receivable, Measurement Input | 0.550 | 0.900 |
Measurement Input, Comparability Adjustment [Member] | Commercial Real Estate Portfolio Segment [Member] | Loans Receivable [Member] | Weighted Average [Member] | Valuation, Market Approach [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31) | ||
Impaired Loans Receivable, Measurement Input | 0.254 | 0.227 |
Measurement Input, Comparability Adjustment [Member] | Commercial Real Estate Portfolio Segment [Member] | Real Estate [Member] | Minimum [Member] | Valuation, Market Approach [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31) | ||
Other Real Estate Owned, Measurement Input | 0.009 | 0.009 |
Measurement Input, Comparability Adjustment [Member] | Commercial Real Estate Portfolio Segment [Member] | Real Estate [Member] | Maximum [Member] | Valuation, Market Approach [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31) | ||
Other Real Estate Owned, Measurement Input | 0.684 | 0.684 |
Measurement Input, Comparability Adjustment [Member] | Commercial Real Estate Portfolio Segment [Member] | Real Estate [Member] | Weighted Average [Member] | Valuation, Market Approach [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31) | ||
Other Real Estate Owned, Measurement Input | 0.347 | 0.347 |
Measurement Input, Comparability Adjustment [Member] | Residential Real Estate [Member] | Loans Receivable [Member] | Minimum [Member] | Valuation, Market Approach [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31) | ||
Impaired Loans Receivable, Measurement Input | 0.017 | 0.003 |
Measurement Input, Comparability Adjustment [Member] | Residential Real Estate [Member] | Loans Receivable [Member] | Maximum [Member] | Valuation, Market Approach [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31) | ||
Impaired Loans Receivable, Measurement Input | 0.400 | 0.330 |
Measurement Input, Comparability Adjustment [Member] | Residential Real Estate [Member] | Loans Receivable [Member] | Weighted Average [Member] | Valuation, Market Approach [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31) | ||
Impaired Loans Receivable, Measurement Input | 0.185 | 0.125 |
Measurement Input, Comparability Adjustment [Member] | Residential Real Estate [Member] | Real Estate [Member] | Minimum [Member] | Valuation, Market Approach [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31) | ||
Other Real Estate Owned, Measurement Input | 0.004 | 0.012 |
Measurement Input, Comparability Adjustment [Member] | Residential Real Estate [Member] | Real Estate [Member] | Maximum [Member] | Valuation, Market Approach [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31) | ||
Other Real Estate Owned, Measurement Input | 0.546 | 0.797 |
Measurement Input, Comparability Adjustment [Member] | Residential Real Estate [Member] | Real Estate [Member] | Weighted Average [Member] | Valuation, Market Approach [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31) | ||
Other Real Estate Owned, Measurement Input | 0.332 | 0.318 |
Measurement Input, Discount Rate [Member] | Construction Real Estate [Member] | Real Estate [Member] | Minimum [Member] | Valuation, Market Approach [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31) | ||
Other Real Estate Owned, Measurement Input | 0.150 | |
Measurement Input, Discount Rate [Member] | Construction Real Estate [Member] | Real Estate [Member] | Maximum [Member] | Valuation, Market Approach [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31) | ||
Other Real Estate Owned, Measurement Input | 0.150 | |
Measurement Input, Discount Rate [Member] | Construction Real Estate [Member] | Real Estate [Member] | Weighted Average [Member] | Valuation, Market Approach [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31) | ||
Other Real Estate Owned, Measurement Input | 0.150 | |
Measurement Input, Cap Rate [Member] | Commercial Real Estate Portfolio Segment [Member] | Loans Receivable [Member] | Minimum [Member] | Valuation, Income Approach [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31) | ||
Impaired Loans Receivable, Measurement Input | 0.106 | 0.090 |
Measurement Input, Cap Rate [Member] | Commercial Real Estate Portfolio Segment [Member] | Loans Receivable [Member] | Maximum [Member] | Valuation, Income Approach [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31) | ||
Impaired Loans Receivable, Measurement Input | 0.118 | 0.110 |
Measurement Input, Cap Rate [Member] | Commercial Real Estate Portfolio Segment [Member] | Loans Receivable [Member] | Weighted Average [Member] | Valuation, Income Approach [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31) | ||
Impaired Loans Receivable, Measurement Input | 0.115 | 0.099 |
Measurement Input, Cap Rate [Member] | Commercial Real Estate Portfolio Segment [Member] | Real Estate [Member] | Minimum [Member] | Valuation, Income Approach [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31) | ||
Other Real Estate Owned, Measurement Input | 0.130 | 0.130 |
Measurement Input, Cap Rate [Member] | Commercial Real Estate Portfolio Segment [Member] | Real Estate [Member] | Maximum [Member] | Valuation, Income Approach [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31) | ||
Other Real Estate Owned, Measurement Input | 0.130 | 0.130 |
Measurement Input, Cap Rate [Member] | Commercial Real Estate Portfolio Segment [Member] | Real Estate [Member] | Weighted Average [Member] | Valuation, Income Approach [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31) | ||
Other Real Estate Owned, Measurement Input | 0.130 | 0.130 |
Measurement Input, Cap Rate [Member] | Residential Real Estate [Member] | Loans Receivable [Member] | Minimum [Member] | Valuation, Income Approach [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31) | ||
Impaired Loans Receivable, Measurement Input | 0.105 | 0.105 |
Measurement Input, Cap Rate [Member] | Residential Real Estate [Member] | Loans Receivable [Member] | Maximum [Member] | Valuation, Income Approach [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31) | ||
Impaired Loans Receivable, Measurement Input | 0.105 | 0.105 |
Measurement Input, Cap Rate [Member] | Residential Real Estate [Member] | Loans Receivable [Member] | Weighted Average [Member] | Valuation, Income Approach [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31) | ||
Impaired Loans Receivable, Measurement Input | 0.105 | 0.105 |
Measurement input replacement cost [Member] | Commercial Real Estate Portfolio Segment [Member] | Loans Receivable [Member] | Minimum [Member] | Valuation, Cost Approach [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31) | ||
Impaired Loans Receivable, Measurement Input | 0.037 | 0.901 |
Measurement input replacement cost [Member] | Commercial Real Estate Portfolio Segment [Member] | Loans Receivable [Member] | Maximum [Member] | Valuation, Cost Approach [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31) | ||
Impaired Loans Receivable, Measurement Input | 0.901 | 0.901 |
Measurement input replacement cost [Member] | Commercial Real Estate Portfolio Segment [Member] | Loans Receivable [Member] | Weighted Average [Member] | Valuation, Cost Approach [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31) | ||
Impaired Loans Receivable, Measurement Input | 0.131 | 0.901 |
Fair Value Fair Value (Assets and liabilities measured at fair value on a nonrecurring basis) (Details) - USD ($) $ in Thousands |
Jun. 30, 2018 |
Dec. 31, 2017 |
---|---|---|
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Loans Held-for-sale, Fair Value Disclosure | $ 8,154 | $ 4,148 |
Loans Receivable, Fair Value Disclosure | 5,219,540 | 5,254,837 |
Other Assets, Fair Value Disclosure | 5,204,775 | 5,247,021 |
Fair Value, Inputs, Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Loans Held-for-sale, Fair Value Disclosure | 8,154 | 4,148 |
Loans Receivable, Fair Value Disclosure | 8,295 | 4,242 |
Fair Value, Inputs, Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Loans Receivable, Fair Value Disclosure | 5,211,245 | 5,250,595 |
Other Assets, Fair Value Disclosure | 5,204,775 | 5,247,021 |
Fair Value, Measurements, Nonrecurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Loans Receivable, Fair Value Disclosure | 6,470 | 3,574 |
Servicing Asset at Fair Value, Amount | 869 | 7,316 |
Other Assets, Fair Value Disclosure | 4,305 | 6,520 |
Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Servicing Asset at Fair Value, Amount | 869 | 7,316 |
Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Loans Receivable, Fair Value Disclosure | 6,470 | 3,574 |
Other Assets, Fair Value Disclosure | 4,305 | 6,520 |
Commercial Real Estate Portfolio Segment [Member] | Fair Value, Measurements, Nonrecurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Loans Receivable, Fair Value Disclosure | 4,192 | 2,735 |
Commercial Real Estate Portfolio Segment [Member] | Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Loans Receivable, Fair Value Disclosure | 4,192 | 2,735 |
Residential Real Estate [Member] | Fair Value, Measurements, Nonrecurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Other Assets, Fair Value Disclosure | 887 | 1,021 |
Residential Real Estate [Member] | Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Other Assets, Fair Value Disclosure | 887 | 1,021 |
Construction Real Estate [Member] | Fair Value, Measurements, Nonrecurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Other Assets, Fair Value Disclosure | 1,123 | 3,204 |
Construction Real Estate [Member] | Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Other Assets, Fair Value Disclosure | 1,123 | 3,204 |
Commercial Real Estate [Member] | Fair Value, Measurements, Nonrecurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Other Assets, Fair Value Disclosure | 2,295 | 2,295 |
Commercial Real Estate [Member] | Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Other Assets, Fair Value Disclosure | 2,295 | 2,295 |
Residential Real Estate [Member] | Fair Value, Measurements, Nonrecurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Loans Receivable, Fair Value Disclosure | 643 | 712 |
Residential Real Estate [Member] | Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Loans Receivable, Fair Value Disclosure | 643 | 712 |
Construction Real Estate - Remaining Commercial [Member] | Fair Value, Measurements, Nonrecurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Loans Receivable, Fair Value Disclosure | 1,635 | 127 |
Construction Real Estate - Remaining Commercial [Member] | Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Loans Receivable, Fair Value Disclosure | 1,635 | 127 |
Reported Value Measurement [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Loans Held-for-sale, Fair Value Disclosure | 8,154 | 4,148 |
Loans Receivable, Fair Value Disclosure | 5,275,522 | 5,322,495 |
Other Assets, Fair Value Disclosure | 5,260,757 | $ 5,314,679 |
Fair Value [Member] | Commercial Real Estate Portfolio Segment [Member] | Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Loans Receivable, Fair Value Disclosure | 4,192 | |
Fair Value [Member] | Residential Real Estate [Member] | Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Loans Receivable, Fair Value Disclosure | 643 | |
Fair Value [Member] | Construction Real Estate - Remaining Commercial [Member] | Construction Real Estate [Member] | Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Loans Receivable, Fair Value Disclosure | $ 1,635 |
Fair Value Fair Value (Impaired Financing Receivables Additional Information) (Details) - USD ($) $ in Thousands |
6 Months Ended | 12 Months Ended | |
---|---|---|---|
Jun. 30, 2018 |
Dec. 31, 2017 |
Jun. 30, 2017 |
|
Schedule of Impaired Financing Receivables Additional Information [Line Items] | |||
Book Value Of Impaired Loans Carried At Fair Value | $ 6,499 | $ 3,577 | |
Partial Charge-Offs On Impaired Loans carried at Fair Value | 4,075 | 2,780 | |
Impaired Financing Receivable, Related Allowance | 1,396 | 684 | |
impaired Financing Receivable, loans not held at Fair Value, Carrying Amount | 53,884 | 52,306 | |
Impaired Financing Receivable, Recorded Investment | 61,750 | 56,564 | $ 73,144 |
Impaired Loan Fair Value | 6,470 | 3,574 | |
Impaired Financing Receivable, loans not held at Fair Value, Recorded Investment | 55,251 | 52,987 | |
Partial Charge-offs on Impaired Loans carried at Cost | 7,309 | 7,260 | |
Impaired Financing Receivable, Carrying Value | 60,354 | 55,880 | |
Partial Charge-Offs On Impaired Loans | 11,384 | 10,040 | |
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | 1,396 | 684 | |
Financing Receivable, not collateral dependent [Domain] | |||
Schedule of Impaired Financing Receivables Additional Information [Line Items] | |||
Impaired Financing Receivable, Related Allowance | 1,367 | 681 | |
Commercial Receivables, excluding Commercial, Financial, and Agricultural [Domain] | |||
Schedule of Impaired Financing Receivables Additional Information [Line Items] | |||
Impaired Financing Receivable, Related Allowance | $ 29 | $ 3 |
Other Comprehensive Income (Loss) (Component Of Accumulated Other Comprehensive Income (Loss)) (Details) - USD ($) $ in Thousands |
3 Months Ended | 6 Months Ended | ||||||
---|---|---|---|---|---|---|---|---|
Jun. 30, 2018 |
Jun. 30, 2017 |
Jun. 30, 2018 |
Jun. 30, 2017 |
Mar. 31, 2018 |
Dec. 31, 2017 |
Mar. 31, 2017 |
Dec. 31, 2016 |
|
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||||||
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Sale of Securities, before Tax | $ 2,562 | |||||||
Other comprehensive loss before reclassifications | $ (2,368) | $ 3,011 | (25,778) | $ 4,033 | ||||
Other Comprehensive (Income) Loss, Defined Benefit Plan, after Reclassification Adjustment, after Tax | 0 | 0 | (3,175) | 0 | ||||
Other Comprehensive (Income) Loss, Reclassification Adjustment from AOCI for Write-down of Securities, before Tax | 0 | 0 | (2,024) | 0 | ||||
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax | 0 | 0 | (2,024) | 0 | ||||
Other Comprehensive Income (Loss), Securities, Available-for-sale, Adjustment, after Tax | (2,368) | 3,011 | 4,033 | |||||
Other comprehensive income (loss) | (2,368) | 3,011 | (23,754) | 4,033 | ||||
Other Comprehensive Income (Loss), Securities, Available-for-sale, Adjustment, before Reclassification Adjustments, after Tax | (2,368) | 3,011 | (25,778) | 4,033 | ||||
Other Comprehensive (Income) Loss, Defined Benefit Plan, before Reclassification Adjustment, after Tax | 0 | 0 | 0 | |||||
Changes in pension plan assets and benefit obligations, Net-of-tax amount | (26,701) | (14,740) | (26,701) | (14,740) | $ 26,701 | $ 23,526 | $ 14,740 | $ 14,740 |
Unrealized gains on available-for-sale securities, Net-of-tax amount | (28,308) | 1,028 | (28,308) | 1,028 | (25,940) | (2,928) | (1,983) | (3,005) |
Total accumulated other comprehensive income (loss), Net-of-tax amount | (55,009) | $ (13,712) | (55,009) | (13,712) | $ (52,641) | (26,454) | $ (16,723) | $ (17,745) |
Other Comprehensive (Income) Loss, Reclassification Adjustment from AOCI for Write-down of Securities, before Tax | $ 0 | |||||||
Accumulated Other Comprehensive Income (loss) [Member] | ||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||||||
New Accounting Pronouncement or Change in Accounting Principle, Cumulative Effect of Change on Equity or Net Assets | (3,806) | |||||||
Accumulated Other Comprehensive Income (loss) [Member] | Pension Plan [Member] | ||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||||||
New Accounting Pronouncement or Change in Accounting Principle, Cumulative Effect of Change on Equity or Net Assets | (3,175) | |||||||
Accumulated Other Comprehensive Income (loss) [Member] | Debt Securities [Member] | ||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||||||
New Accounting Pronouncement or Change in Accounting Principle, Cumulative Effect of Change on Equity or Net Assets | (631) | |||||||
Accounting Standards Update 2016-01 [Member] | ||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||||||
Other comprehensive income (loss) | $ (2,368) | (28,555) | ||||||
Accounting Standards Update 2016-01 [Member] | Debt Securities [Member] | ||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||||||
Other Comprehensive Income (Loss), Securities, Available-for-sale, Adjustment, after Tax | $ (25,380) | |||||||
Accounting Standards Update 2016-01 [Member] | Accumulated Other Comprehensive Income (loss) [Member] | ||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||||||
New Accounting Pronouncement or Change in Accounting Principle, Cumulative Effect of Change on Equity or Net Assets | $ (995) |
Investment in Qualified Affordable Housing Investment in Qualified Affordable Housing (Details) - USD ($) $ in Thousands |
3 Months Ended | 6 Months Ended | |||
---|---|---|---|---|---|
Jun. 30, 2018 |
Jun. 30, 2017 |
Jun. 30, 2018 |
Jun. 30, 2017 |
Dec. 31, 2017 |
|
Schedule of Equity Method Investments [Line Items] | |||||
Amortization Method Qualified Affordable Housing Project Investments, Amortization | $ 1,900 | $ 1,900 | $ 3,702 | $ 3,728 | |
Affordable housing tax credit investments | 45,967 | 45,967 | $ 49,669 | ||
Affordable Housing Program Obligation | 14,282 | 14,282 | $ 14,282 | ||
Affordable Housing Tax Credits and Other Tax Benefits, Amount | $ 2,200 | $ 2,400 | $ 4,900 | $ 4,900 |
Repurchase Agreement Borrowings Repurchase Agreement Borrowings (Details) - USD ($) $ in Thousands |
Jun. 30, 2018 |
Dec. 31, 2017 |
---|---|---|
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings [Line Items] | ||
Transfers Accounted for as Secured Borrowings, Associated Liabilities, Carrying Amount | $ 165,139 | $ 183,289 |
Pledged Assets Separately Reported, Securities Pledged for Repurchase Agreements, at Fair Value | 198,000 | 213,000 |
Available unpledged securities | 961,000 | 975,000 |
Maturity Overnight [Member] | ||
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings [Line Items] | ||
Transfers Accounted for as Secured Borrowings, Associated Liabilities, Carrying Amount | 165,139 | 182,185 |
Maturity up to 30 days [Member] | ||
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings [Line Items] | ||
Transfers Accounted for as Secured Borrowings, Associated Liabilities, Carrying Amount | 0 | 0 |
Maturity 30 to 90 Days [Member] | ||
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings [Line Items] | ||
Transfers Accounted for as Secured Borrowings, Associated Liabilities, Carrying Amount | 0 | 0 |
Maturity over 90 days [Member] | ||
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings [Line Items] | ||
Transfers Accounted for as Secured Borrowings, Associated Liabilities, Carrying Amount | $ 0 | $ 1,104 |
Contingent Liabilities Contingent Liabilities (Details) - USD ($) |
Jun. 30, 2018 |
Jun. 30, 2017 |
---|---|---|
Loss Contingencies [Line Items] | ||
Loss Contingency Accrual | $ 20,000 | $ 2,300,000 |
Revenue from Contracts with Customers (Details) - USD ($) $ in Thousands |
3 Months Ended | 6 Months Ended | ||
---|---|---|---|---|
Jun. 30, 2018 |
Jun. 30, 2017 |
Jun. 30, 2018 |
Jun. 30, 2017 |
|
Disaggregation of Revenue [Line Items] | ||||
Personal trust and agency accounts | $ 2,263 | $ 2,012 | $ 4,389 | $ 3,798 |
Employee benefit and retirement-related accounts | 1,657 | 1,517 | 3,300 | 2,967 |
Investment management and investment advisory agency accounts | 2,339 | 2,143 | 4,583 | 4,111 |
Other | 407 | 353 | 789 | 663 |
Non-sufficient funds (NSF) fees | 1,848 | 2,015 | 3,682 | 4,000 |
Demand deposit account (DDA) charges | 813 | 974 | 1,739 | 1,959 |
Other | 165 | 167 | 327 | 336 |
Credit card | 563 | 488 | 1,074 | 908 |
HELOC | 118 | 134 | 217 | 225 |
Installment | 73 | 119 | 137 | 277 |
Real estate | 2,357 | 2,412 | 4,603 | 4,224 |
Commercial | 361 | 294 | 1,613 | 617 |
Checkcard fee income | 4,382 | 4,040 | 8,384 | 7,801 |
Bank owned life insurance income | 1,031 | 1,114 | 2,040 | 2,217 |
ATM Fees | 510 | 561 | 1,034 | 1,103 |
OREO valuation adjustments | (114) | (272) | (321) | (345) |
Gain on sale of OREO, net | (147) | 53 | 4,174 | 153 |
Other components of net periodic benefit income | 1,705 | 1,448 | 3,410 | 2,896 |
Other | 2,607 | 1,127 | 3,449 | 1,744 |
Total other income | 23,242 | 20,699 | 50,145 | 39,654 |
Net loss on sale of investment securities (2) | 0 | (2,271) | ||
Unrealized gain loss on equity securities | 304 | 0 | 3,793 | 0 |
Bank Servicing [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Other | 3,500 | 3,500 | 7,600 | 6,300 |
Within Scope [Domain] | ||||
Disaggregation of Revenue [Line Items] | ||||
Other | 2,400 | 2,500 | 5,500 | 4,400 |
Out of Scope [Domain] | ||||
Disaggregation of Revenue [Line Items] | ||||
Other | 1,100 | 1,000 | 2,100 | 1,900 |
PNB [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Personal trust and agency accounts | 2,263 | 2,012 | 4,389 | 3,798 |
Employee benefit and retirement-related accounts | 1,657 | 1,517 | 3,300 | 2,967 |
Investment management and investment advisory agency accounts | 2,339 | 2,143 | 4,583 | 4,111 |
Other | 407 | 353 | 789 | 663 |
Non-sufficient funds (NSF) fees | 1,848 | 2,015 | 3,682 | 4,000 |
Demand deposit account (DDA) charges | 813 | 974 | 1,739 | 1,959 |
Other | 165 | 167 | 327 | 336 |
Credit card | 556 | 497 | 1,060 | 917 |
HELOC | 118 | 131 | 217 | 222 |
Installment | 73 | 119 | 137 | 277 |
Real estate | 2,357 | 2,412 | 4,603 | 4,224 |
Commercial | 314 | 271 | 556 | 594 |
Checkcard fee income | 4,382 | 4,040 | 8,384 | 7,801 |
Bank owned life insurance income | 940 | 1,014 | 1,862 | 2,021 |
ATM Fees | 510 | 561 | 1,034 | 1,103 |
OREO valuation adjustments | 71 | 272 | 101 | 345 |
Gain on sale of OREO, net | (179) | 48 | 1,406 | 148 |
Other components of net periodic benefit income | 1,652 | 1,403 | 3,304 | 2,806 |
Other | 1,920 | 1,177 | 2,952 | 2,094 |
Total other income | 22,070 | 20,582 | 41,985 | 39,696 |
Net loss on sale of investment securities (2) | 0 | (2,271) | ||
Unrealized gain loss on equity securities | 6 | 33 | ||
GFSC [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Personal trust and agency accounts | 0 | 0 | 0 | 0 |
Employee benefit and retirement-related accounts | 0 | 0 | 0 | 0 |
Investment management and investment advisory agency accounts | 0 | 0 | 0 | 0 |
Other | 0 | 0 | 0 | 0 |
Non-sufficient funds (NSF) fees | 0 | 0 | 0 | 0 |
Demand deposit account (DDA) charges | 0 | 0 | 0 | 0 |
Other | 0 | 0 | 0 | 0 |
Credit card | 7 | (9) | 14 | (9) |
HELOC | 0 | 0 | 0 | 0 |
Installment | 0 | 0 | 0 | 0 |
Real estate | 0 | 0 | 0 | 0 |
Commercial | 0 | 0 | 0 | 0 |
Checkcard fee income | 0 | 0 | 0 | 0 |
Bank owned life insurance income | 0 | 0 | 0 | 0 |
ATM Fees | 0 | 0 | 0 | 0 |
OREO valuation adjustments | 0 | 0 | 0 | 0 |
Gain on sale of OREO, net | 0 | 0 | 0 | 0 |
Other components of net periodic benefit income | 19 | 16 | 38 | 32 |
Other | 16 | 1 | 20 | 1 |
Total other income | 42 | 8 | 72 | 24 |
Net loss on sale of investment securities (2) | 0 | 0 | ||
Unrealized gain loss on equity securities | 0 | 0 | ||
SEPH [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Personal trust and agency accounts | 0 | 0 | 0 | 0 |
Employee benefit and retirement-related accounts | 0 | 0 | 0 | 0 |
Investment management and investment advisory agency accounts | 0 | 0 | 0 | 0 |
Other | 0 | 0 | 0 | 0 |
Non-sufficient funds (NSF) fees | 0 | 0 | 0 | 0 |
Demand deposit account (DDA) charges | 0 | 0 | 0 | 0 |
Other | 0 | 0 | 0 | 0 |
Credit card | 0 | 0 | 0 | 0 |
HELOC | 0 | 3 | 0 | 3 |
Installment | 0 | 0 | 0 | 0 |
Real estate | 0 | 0 | 0 | 0 |
Commercial | 47 | 23 | 1,057 | 23 |
Checkcard fee income | 0 | 0 | 0 | 0 |
Bank owned life insurance income | 0 | 0 | 0 | 0 |
ATM Fees | 0 | 0 | 0 | 0 |
OREO valuation adjustments | 43 | 0 | 220 | 0 |
Gain on sale of OREO, net | 32 | 5 | 2,768 | 5 |
Other components of net periodic benefit income | 34 | 29 | 68 | 58 |
Other | 1 | (52) | (15) | (52) |
Total other income | 71 | 8 | 3,658 | 37 |
Net loss on sale of investment securities (2) | 0 | 0 | ||
Unrealized gain loss on equity securities | 0 | 0 | ||
All Other [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Personal trust and agency accounts | 0 | 0 | 0 | 0 |
Employee benefit and retirement-related accounts | 0 | 0 | 0 | 0 |
Investment management and investment advisory agency accounts | 0 | 0 | 0 | 0 |
Other | 0 | 0 | 0 | 0 |
Non-sufficient funds (NSF) fees | 0 | 0 | 0 | 0 |
Demand deposit account (DDA) charges | 0 | 0 | 0 | 0 |
Other | 0 | 0 | 0 | 0 |
Credit card | 0 | 0 | 0 | 0 |
HELOC | 0 | 0 | 0 | 0 |
Installment | 0 | 0 | 0 | 0 |
Real estate | 0 | 0 | 0 | 0 |
Commercial | 0 | 0 | 0 | 0 |
Checkcard fee income | 0 | 0 | 0 | 0 |
Bank owned life insurance income | 91 | 100 | 178 | 196 |
ATM Fees | 0 | 0 | 0 | 0 |
OREO valuation adjustments | 0 | 0 | 0 | 0 |
Gain on sale of OREO, net | 0 | 0 | 0 | 0 |
Other components of net periodic benefit income | 0 | 0 | 0 | 0 |
Other | 670 | 1 | 492 | (299) |
Total other income | 1,059 | $ 101 | 4,430 | $ (103) |
Net loss on sale of investment securities (2) | 0 | 0 | ||
Unrealized gain loss on equity securities | $ 298 | $ 3,760 |
Subsequent events Subsequent events (Details) - USD ($) |
6 Months Ended | |||
---|---|---|---|---|
Jul. 01, 2018 |
Jun. 30, 2018 |
Dec. 31, 2017 |
Jun. 30, 2017 |
|
Subsequent Event [Line Items] | ||||
Assets | $ 7,462,156,000 | $ 7,537,620,000 | $ 7,832,092,000 | |
Deposits | 6,015,844,000 | $ 5,817,326,000 | ||
Business Combination, Acquisition Related Costs | 500,000 | |||
NewDominion [Member] | ||||
Subsequent Event [Line Items] | ||||
Assets | 329,000,000 | |||
Loans Receivable, Net | 278,000,000 | |||
Deposits | $ 284,000,000 | |||
NewDominion [Member] | Subsequent Event [Member] | ||||
Subsequent Event [Line Items] | ||||
Business Combination, Consideration Transferred | $ 79,000,000 | |||
Business Combination, Consideration Transferred, Equity Interests Issued and Issuable | 435,457 | |||
Payments to Acquire Businesses, Gross | $ 31,000,000 |
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