XML 46 R34.htm IDEA: XBRL DOCUMENT v3.19.2

Fair Value (Tables)

6 Months Ended

Jun. 30, 2019

Fair Value Disclosures [Abstract]

Schedule of assets and liabilities measured at fair value on a recurring basis

The following table summarizes financial assets and financial liabilities measured at fair value on a recurring basis as of June 30, 2019 and December 31, 2018, segregated by the level of valuation inputs within the fair value hierarchy used to measure fair value.

Recurring Fair Value Measurements
June 30, 2019
(In thousands)	Total				(Level 1)				(Level 2)				(Level 3)
Available-for-sale securities
U.S. Treasuries	$	278			$	0			$	278			$	0
Obligations of U.S. Government sponsored entities	349,662				0				349,662				0
Obligations of U.S. states and political subdivisions	80,783				0				80,783				0
Mortgage-backed securities – residential, issued by:
U.S. Government agencies	169,555				0				169,555				0
U.S. Government sponsored entities	586,529				0				586,529				0
Non-U.S. Government agencies or sponsored entities	7				0				7				0
U.S. corporate debt securities	2,432				0				2,432				0
Total Available-for-sale securities	$	1,189,246			$	0			$	1,189,246			$	0
Equity securities, at fair value	$	912			0				$	0			912

Recurring Fair Value Measurements
December 31, 2018
(In thousands)	Total				(Level 1)				(Level 2)				(Level 3)
Available-for-sale securities
U.S. Treasuries	$	289			$	0			$	289			$	0
Obligations of U.S. Government sponsored entities	485,898				0				485,898				0
Obligations of U.S. states and political subdivisions	85,440				0				85,440				0
Mortgage-backed securities – residential, issued by:
U.S. Government agencies	128,267				0				128,267				0
U.S. Government sponsored entities	630,558				0				630,558				0
Non-U.S. Government agencies or sponsored entities	31				0				31				0
U.S. corporate debt securities	2,175				0				2,175				0
Total Available-for-sale securities	$	1,332,658			$	0			$	1,332,658			$	0
Equity securities, at fair value	$	887			0				0				$	887

Schedule of assets and liabilities measured at fair value on a non recurring basis

Three months ended June 30, 2019
(In thousands)					Fair value measurements at reporting date using:												Gain (losses) from fair value changes
Assets:	As of 06/30/2019				Quoted prices in active markets for identical assets (Level 1)				Significant other observable inputs (Level 2)				Significant unobservable inputs (Level 3)				Three months ended 06/30/2019
Impaired loans	$	3,485			$	0			$	3,485			$	0			$	(63	)
Other real estate owned	635				0				635				0				0

Three months ended June 30, 2018
(In thousands)					Fair value measurements at reporting date using:												Gain (losses) from fair value changes
Assets:	As of 06/30/2018				Quoted prices in active markets for identical assets (Level 1)				Significant other observable inputs (Level 2)				Significant unobservable inputs (Level 3)				Three months ended 06/30/2018
Impaired loans	$	1,865			$	0			$	1,865			$	0			$	12
Other real estate owned	185				0				185				0				(21		)

Six months ended June 30, 2019
(In thousands)					Fair value measurements at reporting date using:												Gain (losses) from fair value changes
Assets:	As of 06/30/2019				Quoted prices in active markets for identical assets (Level 1)				Significant other observable inputs (Level 2)				Significant unobservable inputs (Level 3)				Six months ended 06/30/2019
Impaired loans	$	6,294			$	0			$	6,294			$	0			$	(3,634	)
Other real estate owned	2,229				0				2,229				0				0

Six months ended June 30, 2018
(In thousands)					Fair value measurements at reporting date using:												Gain (losses) from fair value changes
Assets:	As of 06/30/2018				Quoted prices in active markets for identical assets (Level 1)				Significant other observable inputs (Level 2)				Significant unobservable inputs (Level 3)				Six months ended 06/30/2018
Impaired loans	$	6,583			$	0			$	6,583			$	0			$	(111	)
Other real estate owned	1,722				0				1,722				0				(21		)

Schedule of carrying amount and fair value of financial instruments

Estimated Fair Value of Financial Instruments
June 30, 2019
(In thousands)	Carrying Amount				Fair Value				(Level 1)				(Level 2)				(Level 3)
Financial Assets:
Cash and cash equivalents	$	81,013			$	81,013			$	81,013			$	0			$	0
Securities - held to maturity	140,561				143,548				0				143,548				0
FHLB and other stock	40,770				40,770				0				40,770				0
Accrued interest receivable	22,206				22,206				0				22,206				0
Loans/leases, net1	4,815,012				4,743,186				0				3,485				4,739,701
Financial Liabilities:
Time deposits	$	684,962			$	684,187			$	0			$	684,187			$	0
Other deposits	4,303,935				4,303,935				0				4,303,935				0
Fed funds purchased and securities sold
under agreements to repurchase	63,978				63,978				0				63,978				0
Other borrowings	824,562				826,182				0				826,182				0
Trust preferred debentures	16,949				22,025				0				22,025				0
Accrued interest payable	2,536				2,536				0				2,536				0

Estimated Fair Value of Financial Instruments
December 31, 2018
(In thousands)	Carrying Amount				Fair  Value				(Level 1)				(Level 2)				(Level 3)
Financial Assets:
Cash and cash equivalents	$	80,389			$	80,389			$	80,389			$	0			$	0
Securities - held to maturity	140,579				139,377				0				139,377				0
FHLB and other stock	52,262				52,262				0				52,262				0
Accrued interest receivable	20,922				20,922				0				20,922				0
Loans/leases, net1	4,790,529				4,649,308				0				6,500				4,642,808
Financial Liabilities:
Time deposits	$	637,295			$	631,489			$	0			$	631,489			$	0
Other deposits	4,251,664				4,251,664				0				4,251,664				0
Fed funds purchased and securities
sold under agreements to repurchase	81,842				81,842				0				81,842				0
Other borrowings	1,076,075				1,074,081				0				1,074,081				0
Trust preferred debentures	16,863				21,921				0				21,921				0
Accrued interest payable	2,408				2,408				0				2,408				0

¹ Lease receivables, although excluded from the scope of ASC Topic 825, are included in the estimated fair value amounts at their carrying value.

X

- Definition

Tabular disclosure of assets and liabilities by class, including financial instruments measured at fair value that are classified in shareholders' equity, if any, that are measured at fair value on a nonrecurring basis in periods after initial recognition (for example, impaired assets). Disclosures may include, but are not limited to: (a) the fair value measurements recorded and the reasons for the measurements and (b) the level within the fair value hierarchy in which the fair value measurements are categorized in their entirety (levels 1, 2, 3).

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (bbb)
-URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258

+ Details

Name:	us-gaap_FairValueAssetsMeasuredOnNonrecurringBasisTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 11
-URI http://asc.fasb.org/extlink&oid=118260190&loc=d3e13467-108611

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258

+ Details

Name:	us-gaap_FairValueByBalanceSheetGroupingTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- References

No definition available.

+ Details

Name:	us-gaap_FairValueDisclosuresAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3).

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258

+ Details

Name:	us-gaap_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration