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Loans and Allowance for Loan Losses | 3 Months Ended
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Jun. 30, 2011
Loans and Allowance for Loan Losses [Abstract] |
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | NOTE 8: LOANS AND ALLOWANCE FOR LOAN LOSSES
| June 30, |  | December 31,
| 2011 |  | 2010
| (In Thousands)
One- to four-family residential construction | $ 30,070 |  | $ 29,102
Subdivision construction | 73,343 |  | 86,649
Land development | 79,674 |  | 95,573
Commercial construction | 99,368 |  | 68,018
Owner occupied one- to four-family residential | 96,153 |  | 98,099
Non-owner occupied one- to four-family residential | 137,241 |  | 136,984
Commercial real estate | 571,117 |  | 530,277
Other residential | 237,321 |  | 210,846
Commercial business | 196,735 |  | 185,865
Industrial revenue bonds | 64,631 |  | 64,641
Consumer auto | 55,569 |  | 48,992
Consumer other | 74,568 |  | 77,331
Home equity lines of credit | 44,825 |  | 46,852
FDIC-supported loans, net of discounts (TeamBank) | 141,353 |  | 144,633
FDIC-supported loans, net of discounts (Vantus Bank) | 141,920 |  | 160,163
| 2,043,888 |  | 1,984,025
Undisbursed portion of loans in process | (90,079) |  | (63,108)
Allowance for loan losses | (40,487) |  | (41,487)
Deferred loan fees and gains, net | (2,437) |  | (2,543)
| $ 1,910,885 |  | $ 1,876,887
Weighted average interest rate | 5.94% |  | 6.03%
Classes of loans by aging were as follows:
| June 30, 2011
|  |  |  |  |  |  | Total Loans
| 30-59 Days | 60-89 Days | Over 90 | Total Past |  | Total Loans | > 90 Days and
| Past Due | Past Due | Days | Due | Current | Receivable | Still Accruing
| (In Thousands)
One- to four-family |  |  |  |  |  |  |
residential construction | $ 120 | $ — | $ 832 | $ 952 | $ 29,118 | $ 30,070 | $ —
Subdivision construction | 68 | 349 | 4,666 | 5,083 | 68,260 | 73,343 | —
Land development | — | — | 1,349 | 1,349 | 78,325 | 79,674 | —
Commercial construction | — | — | — | — | 99,368 | 99,368 | —
Owner occupied one- to four- |  |  |  |  |  |  |
family residential | 578 | 2,222 | 3,070 | 5,870 | 90,283 | 96,153 | 118
Non-owner occupied one- to |  |  |  |  |  |  |
four-family residential | 73 | — | 2,385 | 2,458 | 134,783 | 137,241 | 98
Commercial real estate | 1,381 | 1,722 | 5,337 | 8,440 | 562,677 | 571,117 | —
Other residential | 189 | — | 3,093 | 3,282 | 234,039 | 237,321 | —
Commercial business | 50 | 164 | 1,443 | 1,657 | 195,078 | 196,735 | —
Industrial revenue bonds | — | — | 2,110 | 2,110 | 62,521 | 64,631 | —
Consumer auto | 449 | 26 | 83 | 558 | 55,011 | 55,569 | 11
Consumer other | 1,332 | 386 | 747 | 2,465 | 72,103 | 74,568 | 355
Home equity lines of credit | 306 | 80 | 144 | 530 | 44,295 | 44,825 | —
FDIC-supported loans, net of |  |  |  |  |  |  |
discounts (TeamBank) | 555 | 1,721 | 19,046 | 21,322 | 120,031 | 141,353 | 146
FDIC-supported loans, net of |  |  |  |  |  |  |
discounts (Vantus Bank) | 286 | 2,917 | 7,194 | 10,397 | 131,523 | 141,920 | 33
| 5,387 | 9,587 | 51,499 | 66,473 | 1,977,415 | 2,043,888 | $ 761
Less FDIC-supported loans, |  |  |  |  |  |  |
net of discounts | 841 | 4,638 | 26,240 | 31,719 | 251,554 | 283,273 |
Total | $ 4,546 | $ 4,949 | $ 25,259 | $ 34,754 | $ 1,725,861 | $ 1,760,615 |
| December 31, 2010
|  |  |  |  |  |  | Total Loans
| 30-59 Days | 60-89 Days | Over 90 | Total Past |  | Total Loans | > 90 Days and
| Past Due | Past Due | Days | Due | Current | Receivable | Still Accruing
| (In Thousands)
One- to four-family |  |  |  |  |  |  |
residential construction | $ 261 | $ — | $ 578 | $ 839 | $ 28,263 | $ 29,102 | $ —
Subdivision construction | 281 | 1,015 | 1,860 | 3,156 | 83,493 | 86,649 | —
Land development | 2,730 | — | 5,668 | 8,398 | 42,616 | 51,014 | —
Commercial construction | — | — | — | — | 112,577 | 112,577 | —
Owner occupied one- to four- |  |  |  |  |  |  |
family residential | 4,856 | 914 | 2,724 | 8,494 | 89,605 | 98,099 | —
Non-owner occupied one- to |  |  |  |  |  |  |
four-family residential | 2,085 | 2,130 | 2,831 | 7,046 | 129,938 | 136,984 | —
Commercial real estate | 2,749 | 8,546 | 6,074 | 17,369 | 512,908 | 530,277 | —
Other residential | — | 4,011 | 4,202 | 8,213 | 202,633 | 210,846 | —
Commercial business | 350 | 355 | 1,642 | 2,347 | 183,518 | 185,865 | —
Industrial revenue bonds | — | — | 2,190 | 2,190 | 62,451 | 64,641 | —
Consumer auto | 427 | 35 | 94 | 556 | 48,436 | 48,992 | 22
Consumer other | 1,331 | 318 | 1,417 | 3,066 | 74,265 | 77,331 | 565
Home equity lines of credit | 152 | 160 | 140 | 452 | 46,400 | 46,852 | —
FDIC-supported loans, net of |  |  |  |  |  |  |
discounts (TeamBank) | 2,719 | 3,731 | 13,285 | 19,735 | 124,898 | 144,633 | —
FDIC-supported loans, net of |  |  |  |  |  |  |
discounts (Vantus Bank) | 2,277 | 1,414 | 9,399 | 13,090 | 147,073 | 160,163 | —
| 20,218 | 22,629 | 52,104 | 94,951 | 1,889,074 | 1,984,025 | $ 587
Less FDIC-supported loans, |  |  |  |  |  |  |
net of discounts | 4,996 | 5,145 | 22,684 | 32,825 | 271,971 | 304,796 |
Total | $ 15,222 | $ 17,484 | $ 29,420 | $ 62,126 | $ 1,617,103 | $ 1,679,229 |
Nonaccruing loans (excluding FDIC-supported loans, net of discount) are summarized as follows:
| June 30, |  | December 31,
| 2011 |  | 2010
| (In Thousands)
One- to four-family residential construction | $ 832 |  | $ 578
Subdivision construction | 4,666 |  | 1,860
Land development | 1,349 |  | 5,668
Commercial construction | — |  | —
Owner occupied one- to four-family residential | 2,952 |  | 2,724
Non-owner occupied one- to four-family residential | 2,287 |  | 2,831
Commercial real estate | 5,337 |  | 6,074
Other residential | 3,093 |  | 4,202
Commercial business | 1,443 |  | 1,642
Industrial revenue bonds | 2,110 |  | 2,190
Consumer auto | 72 |  | 72
Consumer other | 392 |  | 852
Home equity lines of credit | 144 |  | 140
Total | $ 24,677 |  | $ 28,833
The following table presents the activity in the allowance for loan losses by portfolio segment for the three and six months ended June 30, 2011. Also presented are the balance in the allowance for loan losses and the recorded investment in loans based on portfolio segment and impairment method as of June 30, 2011:
| One- to Four- |  |  |  |  |  |
| Family | Other |  |  |  |  |
| Residential and | Residential and | Commercial | Commercial | Commercial |  |
| Construction | Construction | Real Estate | Construction | Business | Consumer | Total
| (In Thousands)
Allowance for loan losses |  |  |  |  |  |  |
Balance April 1, 2011 | $11,546 | $3,798 | $15,807 | $5,235 | $3,010 | $2,438 | $41,834
Provision charged to expense | 772 | 1,756 | 2,673 | 2,348 | 38 | 844 | 8,431
Losses charged off | (758) | (1,926) | (3,526) | (2,433) | (924) | (917) | (10,484)
Recoveries | 2 | 1 | 49 | 5 | 200 | 449 | 706
Balance June 30, 2011 | $11,562 | $3,629 | $15,003 | $5,155 | $2,324 | $2,814 | $40,487
Balance January 1, 2011 | $11,483 | $3,866 | $14,336 | $5,852 | $3,281 | $2,669 | $41,487
Provision charged to expense | 4,010 | 2,649 | 5,885 | 3,145 | 8 | 934 | 16,631
Losses charged off | (3,959) | (2,888) | (5,269) | (3,851) | (1,716) | (1,807) | (19,490)
Recoveries | 28 | 2 | 51 | 9 | 751 | 1,018 | 1,859
Balance June 30, 2011 | $11,562 | $3,629 | $15,003 | $5,155 | $2,324 | $2,814 | $40,487
Ending balance: |  |  |  |  |  |  |
Individually evaluated for |  |  |  |  |  |  |
impairment | $3,293 | $369 | $1,901 | $1,288 | $502 | $86 | $7,439
Collectively evaluated for |  |  |  |  |  |  |
impairment | $8,269 | $3,259 | $13,103 | $3,838 | $1,823 | $2,727 | $33,019
Loans acquired and |  |  |  |  |  |  |
accounted for under ASC |  |  |  |  |  |  |
310-30 | $— | $— | $— | $30 | $— | $— | $30
Loans |  |  |  |  |  |  |
Individually evaluated for |  |  |  |  |  |  |
impairment | $39,478 | $24,557 | $68,603 | $31,887 | $7,250 | $708 | $172,483
Collectively evaluated for |  |  |  |  |  |  |
impairment | $297,330 | $212,763 | $567,145 | $147,155 | $189,484 | $174,255 | $1,588,132
Loans acquired and |  |  |  |  |  |  |
accounted for under ASC |  |  |  |  |  |  |
310-30 | $66,352 | $23,529 | $121,862 | $22,731 | $14,639 | $34,160 | $283,273
The following table presents the balance in the allowance for loan losses and the recorded investment in loans based on portfolio segment and impairment method as of December 31, 2010:
| One- to Four- |  |  |  |  |  |
| Family | Other |  |  |  |  |
| Residential and | Residential and | Commercial | Commercial | Commercial |  |
| Construction | Construction | Real Estate | Construction | Business | Consumer | Total
| (In Thousands)
Allowance for loan losses |  |  |  |  |  |  |
Individually evaluated for |  |  |  |  |  |  |
impairment | $4,353 | $1,714 | $3,089 | $2,083 | $784 | $37 | $12,060
Collectively evaluated for |  |  |  |  |  |  |
impairment | $7,100 | $2,152 | $11,247 | $3,769 | $1,697 | $2,632 | $28,597
Loans acquired and |  |  |  |  |  |  |
accounted for under ASC |  |  |  |  |  |  |
310-30 | $— | $— | $— | $30 | $800 | $— | $830
Loans |  |  |  |  |  |  |
Individually evaluated for |  |  |  |  |  |  |
impairment | $40,562 | $25,246 | $72,379 | $45,334 | $8,340 | $622 | $192,483
Collectively evaluated for |  |  |  |  |  |  |
impairment | $310,272 | $185,600 | $522,539 | $118,257 | $177,525 | $172,553 | $1,486,746
Loans acquired and |  |  |  |  |  |  |
accounted for under ASC |  |  |  |  |  |  |
310-30 | $75,727 | $23,277 | $128,704 | $22,858 | $15,215 | $39,015 | $304,796
Impaired loans are summarized as follows:
| June 30, 2011
|  | Unpaid |
| Recorded | Principal | Specific
| Balance | Balance | Allowance
| (In Thousands
One- to four-family residential construction | $ 2,106 | $ 2,197 | $ 121
Subdivision construction | 8,543 | 9,467 | 1,498
Land development | 7,330 | 7,995 | 1,288
Commercial construction | — | — | —
Owner occupied one- to four-family residential | 3,960 | 4,529 | 601
Non-owner occupied one- to four-family residential | 9,126 | 9,323 | 1,074
Commercial real estate | 22,038 | 24,641 | 1,795
Other residential | 8,330 | 9,266 | 369
Commercial business | 2,366 | 3,212 | 502
Industrial revenue bonds | 2,110 | 2,190 | 105
Consumer auto | 121 | 141 | 6
Consumer other | 550 | 615 | 63
Home equity lines of credit | 120 | 129 | 17
Total | $ 66,700 | $ 73,705 | $ 7,439
| Three Months Ended |  | Six Months Ended
| June 30, 2011 |  | June 30, 2011
| Average |  |  | Average |
| Investment | Interest |  | Investment | Interest
| in Impaired | Income |  | in Impaired | Income
| Loans | Recognized |  | Loans | Recognized
| (In Thousands)
One- to four-family residential construction | $2,006 | $9 |  | $1,882 | $18
Subdivision construction | 8,314 | 54 |  | 8,909 | 115
Land development | 11,066 | 70 |  | 12,751 | 233
Commercial construction | — | — |  | 617 | —
Owner occupied one- to four-family residential | 3,838 | 10 |  | 4,568 | 34
Non-owner occupied one- to four-family residential | 9,446 | 98 |  | 9,944 | 201
Commercial real estate | 23,901 | 205 |  | 26,282 | 461
Other residential | 9,701 | 93 |  | 11,032 | 191
Commercial business | 3,497 | 13 |  | 5,264 | 62
Industrial revenue bonds | 2,137 | — |  | 2,163 | —
Consumer auto | 109 | 1 |  | 262 | 4
Consumer other | 575 | 3 |  | 579 | 7
Home equity lines of credit | 182 | — |  | 267 | 1
Total | $74,772 | $556 |  | $84,520 | $1,327
| December 31, 2010
|  |  |  | Average |
|  | Unpaid |  | Investment | Interest
| Recorded | Principal | Specific | in Impaired | Income
| Balance | Balance | Allowance | Loans | Recognized
| (In Thousands)
One- to four-family residential |  |  |  |  |
construction | $ 1,947 | $ 2,371 | $ 258 | $ 1,724 | $ 83
Subdivision construction | 9,894 | 10,560 | 2,326 | 7,850 | 415
Land development | 17,957 | 21,006 | 1,925 | 18,760 | 534
Commercial construction | 1,851 | 1,851 | 158 | 458 | 31
Owner occupied one- to four-family |  |  |  |  |
residential | 5,205 | 5,620 | 542 | 3,612 | 69
Non-owner occupied one- to four-family |  |  |  |  |
residential | 11,785 | 12,267 | 1,227 | 8,182 | 386
Commercial real estate | 25,782 | 26,392 | 3,045 | 10,615 | 603
Other residential | 9,768 | 9,869 | 1,714 | 8,123 | 140
Commercial business | 9,722 | 12,495 | 828 | 2,630 | 114
Consumer auto | 125 | 137 | 4 | 30 | 1
Consumer other | 429 | 481 | 14 | 93 | 4
Home equity lines of credit | 148 | 166 | 19 | 109 | 1
Total | $ 94,613 | $ 103,215 | $ 12,060 | $ 62,186 | $ 2,381
Included in certain loan categories in the impaired loans are troubled debt restructurings that were classified as impaired. At June 30, 2011, the Company had $7.4 million of construction loans, $7.4 million of residential mortgage loans, $10.2 million of commercial real estate loans, $51,000 of commercial business loans and $213,000 of consumer loans that were modified in troubled debt restructurings and impaired. Of the total troubled debt restructurings, $22.6 million were accruing interest at June 30, 2011. At December 31, 2010, the Company had $6.5 million of construction loans, $5.5 million of residential mortgage loans, $8.2 million of commercial real estate loans, $57,000 of other commercial loans and $150,000 of consumer loans that were modified in troubled debt restructurings and impaired. Of the total troubled debt restructurings, $16.5 million were accruing interest at December 31, 2010. The company reviews the credit quality of its loan portfolio using an internal grading system that classifies loans as “Satisfactory,” “Watch,” Special Mention” and “Substandard.” Substandard loans are characterized by the distinct possibility that the Bank will sustain some loss if certain deficiencies are not corrected. Special mention loans possess potential weaknesses that deserve management’s close attention but do not expose the Bank to a degree of risk that warrants substandard classification. Loans classified as watch are being monitored because of indications of potential weaknesses or deficiencies that may require future classification as special mention or substandard. Loans not meeting any of the criteria previously described are considered satisfactory. The FDIC-covered loans are evaluated using this internal grading system. However, since the loans are accounted for in pools and are currently substantially covered through loss sharing agreements with the FDIC, all of the loan pools were considered satisfactory at June 30, 2011 and December 31, 2010, respectively. See Note 9 for further discussion of the acquired loan pools and loss sharing agreements. The loan grading system is presented by loan class below:
| June 30, 2011
|  |  | Special |  |
| Satisfactory | Watch | Mention | Substandard | Total
| (In Thousands)
One- to four-family residential |  |  |  |  |
construction | $26,723 | $2,009 | $— | $1,338 | $30,070
Subdivision construction | 55,514 | 10,562 | — | 7,267 | 73,343
Land development | 52,590 | 20,459 | — | 6,625 | 79,674
Commercial construction | 94,565 | 4,803 | — | — | 99,368
Owner occupied one- to four-family |  |  |  |  |
residential | 92,222 | 525 | — | 3,406 | 96,153
Non-owner occupied one- to four-family |  |  |  |  |
residential | 122,870 | 6,714 | — | 7,657 | 137,241
Commercial real estate | 504,624 | 48,559 | 2,684 | 15,250 | 571,117
Other residential | 212,763 | 21,276 | — | 3,282 | 237,321
Commercial business | 189,484 | 4,885 | — | 2,366 | 196,735
Industrial revenue bonds | 62,521 | — | — | 2,110 | 64,631
Consumer auto | 55,474 | — | — | 95 | 55,569
Consumer other | 74,076 | — | — | 492 | 74,568
Home equity lines of credit | 44,705 | — | — | 120 | 44,825
FDIC-supported loans, net of discounts |  |  |  |  |
(TeamBank) | 141,353 | — | — | — | 141,353
FDIC-supported loans, net of discounts |  |  |  |  |
(Vantus Bank) | 141,920 | — | — | — | 141,920
Total | $1,871,404 | $119,792 | $2,684 | $50,008 | $2,043,888
| December 31, 2010
|  |  | Special |  |
| Satisfactory | Watch | Mention | Substandard | Total
| (In Thousands)
One- to four-family residential |  |  |  |  |
construction | $27,620 | $549 | $— | $933 | $29,102
Subdivision construction | 69,907 | 8,408 | — | 8,334 | 86,649
Land development | 57,486 | 20,834 | — | 17,253 | 95,573
Commercial construction | 60,770 | 5,397 | — | 1,851 | 68,018
Owner occupied one- to four-family |  |  |  |  |
residential | 92,385 | 766 | — | 4,948 | 98,099
Non-owner occupied one- to four-family |  |  |  |  |
residential | 120,360 | 6,471 | — | 10,153 | 136,984
Commercial real estate | 460,088 | 46,805 | 2,574 | 20,810 | 530,277
Other residential | 185,600 | 15,478 | — | 9,768 | 210,846
Commercial business | 177,525 | 812 | — | 7,528 | 185,865
Industrial revenue bonds | 62,451 | — | — | 2,190 | 64,641
Consumer auto | 48,883 | — | — | 109 | 48,992
Consumer other | 76,966 | — | — | 365 | 77,331
Home equity lines of credit | 46,704 | — | — | 148 | 46,852
FDIC-supported loans, net of discounts |  |  |  |  |
(TeamBank) | 144,633 | — | — | — | 144,633
FDIC-supported loans, net of discounts |  |  |  |  |
(Vantus Bank) | 160,163 | — | — | — | 160,163
Total | $1,791,541 | $105,520 | $2,574 | $84,390 | $1,984,025

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- Definition The entire disclosure for claims held for amounts due a company. Examples include trade accounts receivables, notes receivables, loans receivables. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6965416&loc=d3e5066-111524 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 03 -Paragraph 7 -Article 9 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Statement of Position (SOP) -Number 01-6 -Paragraph 13 -Subparagraph d -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 50 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=6965416&loc=d3e5162-111524 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 3, 4 -Article 5 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(k)) -URI http://asc.fasb.org/extlink&oid=6881521&loc=d3e23780-122690 Reference 7: http://www.xbrl.org/2003/role/presentationRef -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 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Article 4 -Section 08 -Paragraph k Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=6965416&loc=d3e5074-111524 + Details
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