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Loans (Tables) | 9 Months Ended
--- | ---
Sep. 30, 2019
Receivables [Abstract] |
Schedule of Loans by Class | The following table presents loans by class as of the dates indicated:
| September 30, 2019 |  | December 31, 2018
Real estate loans: |  |  |
Commercial | $ | 3,468.2 |  |  | $ | 3,235.4 |
Construction: |  |  |
Land acquisition & development | 309.6 |  |  | 321.6 |
Residential | 261.8 |  |  | 242.8 |
Commercial | 386.7 |  |  | 274.3 |
Total construction loans | 958.1 |  |  | 838.7 |
Residential | 1,556.3 |  |  | 1,542.0 |
Agricultural | 226.5 |  |  | 217.4 |
Total real estate loans | 6,209.1 |  |  | 5,833.5 |
Consumer: |  |  |
Indirect consumer | 797.8 |  |  | 787.8 |
Other consumer | 188.8 |  |  | 200.6 |
Credit card | 80.3 |  |  | 81.8 |
Total consumer loans | 1,066.9 |  |  | 1,070.2 |
Commercial | 1,422.6 |  |  | 1,310.3 |
Agricultural | 292.7 |  |  | 254.8 |
Other, including overdrafts | 1.3 |  |  | 1.6 |
Loans held for investment | 8,992.6 |  |  | 8,470.4 |
Mortgage loans held for sale | 108.9 |  |  | 33.3 |
Total loans | $ | 9,101.5 |  |  | $ | 8,503.7 |
Schedule of Recorded Investment in Past Due Loans by Class | The following tables present the Company’s recorded investment and contractual aging of the Company’s recorded investment in loans by class as of the dates indicated. Loans are considered past due if the required principal and interest payments have not been received as of the date such payments were due.
|  |  |  | Total Loans |  |  |
| 30 - 59 | 60 - 89 | > 90 | 30 or More |  |  |
| Days | Days | Days | Days | Current | Non-accrual | Total
As of September 30, 2019 | Past Due | Past Due | Past Due | Past Due | Loans | Loans | Loans
Real estate |  |  |  |  |  |  |
Commercial | $ | 5.0 |  | $ | 4.6 |  | $ | 0.7 |  | $ | 10.3 |  | $ | 3,444.3 |  | $ | 13.6 |  | $ | 3,468.2 |
Construction: |  |  |  |  |  |  |
Land acquisition & development | 1.4 |  | 0.1 |  | 0.7 |  | 2.2 |  | 307.0 |  | 0.4 |  | 309.6 |
Residential | 4.1 |  | — |  | 0.8 |  | 4.9 |  | 256.5 |  | 0.4 |  | 261.8 |
Commercial | 1.5 |  | — |  | — |  | 1.5 |  | 384.7 |  | 0.5 |  | 386.7 |
Total construction loans | 7.0 |  | 0.1 |  | 1.5 |  | 8.6 |  | 948.2 |  | 1.3 |  | 958.1 |
Residential | 2.1 |  | 1.3 |  | 0.9 |  | 4.3 |  | 1,548.4 |  | 3.6 |  | 1,556.3 |
Agricultural | — |  | — |  | 0.1 |  | 0.1 |  | 221.3 |  | 5.1 |  | 226.5 |
Total real estate loans | 14.1 |  | 6.0 |  | 3.2 |  | 23.3 |  | 6,162.2 |  | 23.6 |  | 6,209.1 |
Consumer: |  |  |  |  |  |  |
Indirect consumer | 7.1 |  | 2.0 |  | 0.6 |  | 9.7 |  | 786.0 |  | 2.1 |  | 797.8 |
Other consumer | 1.1 |  | 0.6 |  | 0.3 |  | 2.0 |  | 186.3 |  | 0.5 |  | 188.8 |
Credit card | 0.9 |  | 0.4 |  | 0.6 |  | 1.9 |  | 78.4 |  | — |  | 80.3 |
Total consumer loans | 9.1 |  | 3.0 |  | 1.5 |  | 13.6 |  | 1,050.7 |  | 2.6 |  | 1,066.9 |
Commercial | 4.3 |  | 2.9 |  | 2.1 |  | 9.3 |  | 1,392.3 |  | 21.0 |  | 1,422.6 |
Agricultural | 0.6 |  | 0.1 |  | 0.2 |  | 0.9 |  | 288.9 |  | 2.9 |  | 292.7 |
Other, including overdrafts | — |  | — |  | — |  | — |  | 1.3 |  | — |  | 1.3 |
Loans held for investment | 28.1 |  | 12.0 |  | 7.0 |  | 47.1 |  | 8,895.4 |  | 50.1 |  | 8,992.6 |
Mortgage loans originated for sale | — |  | — |  | — |  | — |  | 108.9 |  | — |  | 108.9 |
Total loans | $ | 28.1 |  | $ | 12.0 |  | $ | 7.0 |  | $ | 47.1 |  | $ | 9,004.3 |  | $ | 50.1 |  | $ | 9,101.5 |
|  |  |  | Total Loans |  |  |
| 30 - 59 | 60 - 89 | > 90 | 30 or More |  |  |
| Days | Days | Days | Days | Current | Non-accrual | Total
As of December 31, 2018 | Past Due | Past Due | Past Due | Past Due | Loans | Loans | Loans
Real estate |  |  |  |  |  |  |
Commercial | $ | 10.4 |  | $ | 1.0 |  | $ | 0.8 |  | $ | 12.2 |  | $ | 3,214.0 |  | $ | 9.2 |  | $ | 3,235.4 |
Construction: |  |  |  |  |  |  |
Land acquisition & development | 1.6 |  | 0.1 |  | 0.2 |  | 1.9 |  | 316.0 |  | 3.7 |  | 321.6 |
Residential | 1.0 |  | 0.4 |  | — |  | 1.4 |  | 240.4 |  | 1.0 |  | 242.8 |
Commercial | 0.4 |  | — |  | — |  | 0.4 |  | 273.7 |  | 0.2 |  | 274.3 |
Total construction loans | 3.0 |  | 0.5 |  | 0.2 |  | 3.7 |  | 830.1 |  | 4.9 |  | 838.7 |
Residential | 8.8 |  | 1.1 |  | 0.2 |  | 10.1 |  | 1,525.3 |  | 6.6 |  | 1,542.0 |
Agricultural | 2.2 |  | — |  | — |  | 2.2 |  | 202.6 |  | 12.6 |  | 217.4 |
Total real estate loans | 24.4 |  | 2.6 |  | 1.2 |  | 28.2 |  | 5,772.0 |  | 33.3 |  | 5,833.5 |
Consumer: |  |  |  |  |  |  |
Indirect consumer | 6.8 |  | 2.1 |  | 0.4 |  | 9.3 |  | 776.8 |  | 1.7 |  | 787.8 |
Other consumer | 1.4 |  | 0.5 |  | 0.1 |  | 2.0 |  | 198.1 |  | 0.5 |  | 200.6 |
Credit card | 0.9 |  | 0.4 |  | 0.8 |  | 2.1 |  | 79.7 |  | — |  | 81.8 |
Total consumer loans | 9.1 |  | 3.0 |  | 1.3 |  | 13.4 |  | 1,054.6 |  | 2.2 |  | 1,070.2 |
Commercial | 8.3 |  | 1.2 |  | 1.3 |  | 10.8 |  | 1,283.7 |  | 15.8 |  | 1,310.3 |
Agricultural | 2.1 |  | 0.3 |  | — |  | 2.4 |  | 249.4 |  | 3.0 |  | 254.8 |
Other, including overdrafts | — |  | — |  | — |  | — |  | 1.6 |  | — |  | 1.6 |
Loans held for investment | 43.9 |  | 7.1 |  | 3.8 |  | 54.8 |  | 8,361.3 |  | 54.3 |  | 8,470.4 |
Mortgage loans originated for sale | — |  | — |  | — |  | — |  | 33.3 |  | — |  | 33.3 |
Total loans | $ | 43.9 |  | $ | 7.1 |  | $ | 3.8 |  | $ | 54.8 |  | $ | 8,394.6 |  | $ | 54.3 |  | $ | 8,503.7 |
Schedule of Acquired Loans with Credit Impairment | Information regarding Northwest loans acquired deemed credit-impaired as of the August 16, 2018 acquisition date are as follows:
Contractually required principal and interest payments | $ | 27.5 |
Contractual cash flows not expected to be collected (“non-accretable discount”) | 4.4 |
Cash flows expected to be collected | 23.1 |
Interest component of cash flows expected to be collected (“accretable discount”) | 3.2 |
Fair value of acquired credit-impaired loans | $ | 19.9 |
Information regarding IIBK loans acquired deemed credit-impaired as of the April 8, 2019 acquisition date are as follows:
Contractually required principal and interest payments | $ | 24.1 |
Contractual cash flows not expected to be collected (“non-accretable discount”) | 3.9 |
Cash flows expected to be collected | 20.2 |
Interest component of cash flows expected to be collected (“accretable discount”) | 3.4 |
Fair value of acquired credit-impaired loans | $ | 16.8 |
The following table displays the outstanding unpaid balances and accrual status of loans acquired with credit impairment as of the dates indicated:
| September 30, 2019 |  | December 31, 2018
Outstanding balance | $ | 52.8 |  |  | $ | 43.4 |
Carrying value |  |  |
Loans on accrual status | 39.9 |  |  | 30.2 |
Total carrying value | $ | 39.9 |  |  | $ | 30.2 |
The following table summarizes changes in the accretable yield for loans acquired deemed credit impaired for the three and nine month periods ended September 30, 2019 and 2018:
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2019 | 2018 |  | 2019 | 2018
Beginning balance | $ | 10.8 |  | $ | 6.5 |  |  | $ | 8.9 |  | $ | 7.3 |
Acquisitions | — |  | 3.2 |  |  | 3.4 |  | 3.2 |
Additions | — |  | — |  |  | — |  | 0.4 |
Accretion income | (0.8 | ) | (0.7 | ) |  | (2.5 | ) | (2.4 | )
Reductions due to exit events | (0.2 | ) | (0.1 | ) |  | (1.3 | ) | (0.6 | )
Reclassifications from non-accretable differences | 0.2 |  | 0.6 |  |  | 1.5 |  | 1.6 |
Ending balance | $ | 10.0 |  | $ | 9.5 |  |  | $ | 10.0 |  | $ | 9.5 |
Schedule of Recorded Investment in Impaired Loans | The following tables present information on the Company’s recorded investment in impaired loans as of the dates indicated:
As of September 30, 2019 | Unpaid Total Principal Balance | Recorded Investment With No Allowance | Recorded Investment With Allowance | Total Recorded Investment | Related Allowance
Real estate: |  |  |  |  |
Commercial | $ | 28.4 |  | $ | 13.2 |  | $ | 9.7 |  | $ | 22.9 |  | $ | 0.7 |
Construction: |  |  |  |  |
Land acquisition & development | 6.8 |  | 0.4 |  | 0.2 |  | 0.6 |  | — |
Residential | 0.6 |  | 0.4 |  | — |  | 0.4 |  | — |
Commercial | 1.0 |  | 0.5 |  | 0.1 |  | 0.6 |  | — |
Total construction loans | 8.4 |  | 1.3 |  | 0.3 |  | 1.6 |  | — |
Residential | 6.3 |  | 3.1 |  | 2.0 |  | 5.1 |  | 0.2 |
Agricultural | 7.6 |  | 5.1 |  | 2.1 |  | 7.2 |  | 0.1 |
Total real estate loans | 50.7 |  | 22.7 |  | 14.1 |  | 36.8 |  | 1.0 |
Commercial | 30.9 |  | 12.6 |  | 12.4 |  | 25.0 |  | 2.9 |
Agricultural | 5.8 |  | 2.8 |  | 2.5 |  | 5.3 |  | 0.2 |
Total | $ | 87.4 |  | $ | 38.1 |  | $ | 29.0 |  | $ | 67.1 |  | $ | 4.1 |
As of December 31, 2018 | Unpaid Total Principal Balance | Recorded Investment With No Allowance | Recorded Investment With Allowance | Total Recorded Investment | Related Allowance
Real estate: |  |  |  |  |
Commercial | $ | 22.2 |  | $ | 8.6 |  | $ | 7.7 |  | $ | 16.3 |  | $ | 0.7 |
Construction: |  |  |  |  |
Land acquisition & development | 10.0 |  | 0.4 |  | 3.5 |  | 3.9 |  | 0.2 |
Residential | 1.1 |  | 0.6 |  | 0.4 |  | 1.0 |  | 0.1 |
Commercial | 0.7 |  | 0.2 |  | — |  | 0.2 |  | — |
Total construction loans | 11.8 |  | 1.2 |  | 3.9 |  | 5.1 |  | 0.3 |
Residential | 8.8 |  | 5.7 |  | 2.0 |  | 7.7 |  | 0.3 |
Agricultural | 12.9 |  | 12.5 |  | 0.2 |  | 12.7 |  | — |
Total real estate loans | 55.7 |  | 28.0 |  | 13.8 |  | 41.8 |  | 1.3 |
Commercial | 24.1 |  | 5.5 |  | 14.4 |  | 19.9 |  | 5.2 |
Agricultural | 3.2 |  | 2.5 |  | 0.6 |  | 3.1 |  | 0.3 |
Total | $ | 83.0 |  | $ | 36.0 |  | $ | 28.8 |  | $ | 64.8 |  | $ | 6.8 |
The following table presents the average recorded investment in and income recognized on impaired loans for the periods indicated:
| Three Months Ended September 30,
| 2019 |  | 2018
| Average Recorded Investment |  | Income Recognized |  | Average Recorded Investment |  | Income Recognized
Real estate | $ | 33.9 |  |  | $ | — |  |  | $ | 54.5 |  |  | $ | — |
Commercial | 22.1 |  |  | — |  |  | 20.7 |  |  | — |
Agricultural | 6.0 |  |  | — |  |  | 1.9 |  |  | — |
Total | $ | 62.0 |  |  | $ | — |  |  | $ | 77.1 |  |  | $ | — |
| Nine Months Ended September 30,
| 2019 |  | 2018
| Average Recorded Investment |  | Income Recognized |  | Average Recorded Investment |  | Income Recognized
Real estate | $ | 39.2 |  |  | $ | — |  |  | $ | 54.1 |  |  | $ | 0.2 |
Commercial | 22.5 |  |  | 0.1 |  |  | 22.0 |  |  | 0.1 |
Agricultural | 4.1 |  |  | — |  |  | 1.6 |  |  | — |
Total | $ | 65.8 |  |  | $ | 0.1 |  |  | $ | 77.7 |  |  | $ | 0.3 |
Schedule of Troubled Debt Restructurings | The Company had no troubled debt restructurings during the three months ended September 30, 2019 and $0.2 million of troubled debt restructurings that occurred during the nine months ended September 30, 2019.
|  | Number of Notes |  | Type of Concession | Principal Balance at Restructure Date
Nine Months Ended September 30, 2019 |  |  | Interest only period | Extension of term or amortization schedule | Interest rate adjustment | Other (1)
Commercial real estate |  | 1 |  | $ | — |  | $ | 0.2 |  | $ | — |  | $ | — |  | $ | 0.2 |
Total loans restructured during period |  | 1 |  | $ | — |  | $ | 0.2 |  | $ | — |  | $ | — |  | $ | 0.2 |
(1) Other includes concessions that reduce or defer payments for a specified period of time and/or concessions that do not fit into other designated categories.
Schedule of Recorded Investment in Criticized Loans by Class and Credit Quality Indicator | The following tables present the Company’s recorded investment in criticized loans by class and credit quality indicator based on the most recent analysis performed as of the dates indicated:
As of September 30, 2019 | Other Assets Especially Mentioned | Substandard | Doubtful | Total Criticized Loans
Real estate: |  |  |  |
Commercial | $ | 90.0 |  | $ | 96.5 |  | $ | 1.5 |  | $ | 188.0 |
Construction: |  |  |  |
Land acquisition & development | 5.0 |  | 5.0 |  | 0.1 |  | 10.1 |
Residential | 0.9 |  | 1.4 |  | 0.4 |  | 2.7 |
Commercial | 2.3 |  | 1.5 |  | — |  | 3.8 |
Total construction loans | 8.2 |  | 7.9 |  | 0.5 |  | 16.6 |
Residential | 3.3 |  | 7.0 |  | 0.3 |  | 10.6 |
Agricultural | 15.5 |  | 25.3 |  | — |  | 40.8 |
Total real estate loans | 117.0 |  | 136.7 |  | 2.3 |  | 256.0 |
Consumer: |  |  |  |
Indirect consumer | 0.3 |  | 3.2 |  | — |  | 3.5 |
Direct consumer | 0.4 |  | 1.0 |  | 0.1 |  | 1.5 |
Total consumer loans | 0.7 |  | 4.2 |  | 0.1 |  | 5.0 |
Commercial | 40.2 |  | 62.5 |  | 9.9 |  | 112.6 |
Agricultural | 16.6 |  | 25.7 |  | 0.2 |  | 42.5 |
Total | $ | 174.5 |  | $ | 229.1 |  | $ | 12.5 |  | $ | 416.1 |
As of December 31, 2018 | Other Assets Especially Mentioned | Substandard | Doubtful | Total Criticized Loans
Real estate: |  |  |  |
Commercial | $ | 102.5 |  | $ | 87.4 |  | $ | 2.9 |  | $ | 192.8 |
Construction: |  |  |  |
Land acquisition & development | 5.0 |  | 7.0 |  | 3.3 |  | 15.3 |
Residential | 2.8 |  | 2.0 |  | 0.4 |  | 5.2 |
Commercial | 1.7 |  | 3.9 |  | — |  | 5.6 |
Total construction loans | 9.5 |  | 12.9 |  | 3.7 |  | 26.1 |
Residential | 3.0 |  | 10.8 |  | 0.7 |  | 14.5 |
Agricultural | 9.0 |  | 24.0 |  | 0.1 |  | 33.1 |
Total real estate loans | 124.0 |  | 135.1 |  | 7.4 |  | 266.5 |
Consumer: |  |  |  |
Indirect consumer | 0.7 |  | 2.1 |  | 0.1 |  | 2.9 |
Direct consumer | 0.3 |  | 0.8 |  | 0.1 |  | 1.2 |
Total consumer loans | 1.0 |  | 2.9 |  | 0.2 |  | 4.1 |
Commercial | 39.4 |  | 45.8 |  | 11.8 |  | 97.0 |
Agricultural | 14.4 |  | 17.8 |  | 1.5 |  | 33.7 |
Total | $ | 178.8 |  | $ | 201.6 |  | $ | 20.9 |  | $ | 401.3 |

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- Definition Tabular disclosure of financing receivables by credit quality indicator. The credit quality indicator is a statistic about the credit quality of financing receivables. Examples include, but not limited to, consumer credit risk scores, credit-rating-agency ratings, an entity's internal credit risk grades, loan-to-value ratios, collateral, collection experience and other internal metrics. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 20 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=119407570&loc=SL82919230-210447 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 50 -Paragraph 29 -URI http://asc.fasb.org/extlink&oid=118936363&loc=SL6953659-111524 + Details
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- Definition Tabular disclosure of the various types of trade accounts and notes receivable and for each the gross carrying value, allowance, and net carrying value as of the balance sheet date. Presentation is categorized by current, noncurrent and unclassified receivables. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.3,4) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 + Details
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