XML 34 R11.htm IDEA: XBRL DOCUMENT
v3.3.1.900

Accounting for Investments in Qualified Affordable Housing Projects | 12 Months Ended
--- | ---
Dec. 31, 2015
Accounting Changes and Error Corrections [Abstract] |
Accounting for Investments in Qualified Affordable Housing Projects | Accounting for Investments in Qualified Affordable Housing Projects The Bank invests in qualified affordable housing projects (low income housing) and previously accounted for them under the equity method of accounting. The Bank recognized its share of partnership losses in other operating expenses with the tax benefits recognized in the income tax provision. In January 2014, the FASB issued ASU 2014-1, Accounting for Investments in Qualified Affordable Housing Projects, which amends ASC 323 to provide the ability to elect the proportional amortization method with the amortization expense and tax benefits recognized through the income tax provision. This ASU is effective for the annual period beginning after December 15, 2014, with early adoption being permitted. The Bank elected to early adopt the provisions of the ASU in the second quarter of 2014 and elected the proportional amortization method as retrospective transition. This accounting change in the amortization methodology resulted in changes to account for amortization recognized in prior periods, which impacted the balance of tax credit investments and related tax accounts. The investment amortization expense is presented as a component of the income tax provision. The cumulative effect of the retrospective application of this accounting principle was a $1.1 million charge to stockholders' equity as of January 1, 2012. Net income decreased $49,000 and $50,000 for years ended December 31, 2014 and 2013, respectively, due to the change in accounting principle. The Bank determined that there were no events or changes in circumstances indicating that it is more likely than not that the carrying amount of the investment will not be realized. Therefore, no impairment was recognized as of December 31, 2015 or December 31, 2014. The investment in low income housing was $18.9 million and $21.3 million as of December 31, 2015 and 2014, respectively. The Bank’s unfunded commitments related to low income housing investments were $5.7 million and $11.9 million as of December 31, 2015 and December 31, 2014, respectively. As a component of income tax expense, the Bank recognized amortizations of $2.3 million and $1.6 million during the years ended December 31, 2015 and 2014, respectively, and tax credits and other benefits received from the tax expenses were $3.3 million and $2.3 million for the years ended December 31, 2015 and 2014, respectively.

X
- References No definition available. + Details
Name: | us-gaap_AccountingChangesAndErrorCorrectionsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for reporting accounting changes, excludes error corrections information. + References No definition available. + Details
Name: | us-gaap_AccountingChangesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration