SEACOAST BANKING CORP OF FLORIDA, 10-Q filed on 8/6/2020
Quarterly Report
v3.20.2
Cover Page
 6 Months Ended
Jun. 30, 2020
shares
Cover [Abstract]  
Document Type 10-Q
Document Quarterly Report true
Document Period End Date Jun. 30, 2020
Document Transition Report false
Entity File Number 0-13660
Entity Registrant Name Seacoast Banking Corporation of Florida
Entity Incorporation, State or Country Code FL
Entity Tax Identification Number 59-2260678
Entity Address, Address Line One 815 COLORADO AVENUE,
Entity Address, City or Town STUART
Entity Address, State or Province FL
Entity Address, Postal Zip Code 34994
City Area Code (772)
Local Phone Number 287-4000
Title of 12(b) Security Common Stock
Trading Symbol SBCF
Security Exchange Name NASDAQ
Entity Current Reporting Status Yes
Entity Interactive Data Current Yes
Entity Filer Category Large Accelerated Filer
Entity Small Business false
Entity Emerging Growth Company false
Entity Shell Company false
Entity Common Stock, Shares Outstanding 52,990,655
Amendment Flag false
Document Fiscal Year Focus 2020
Document Fiscal Period Focus Q2
Entity Central Index Key 0000730708
Current Fiscal Year End Date --12-31
v3.20.2
CONDENSED CONSOLIDATED STATEMENTS OF INCOME (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Income Statement [Abstract]        
Interest and fees on loans $ 64,844 $ 62,288 $ 128,284 $ 124,575
Interest and dividends on securities 7,694 9,076 16,512 18,346
Interest on interest bearing deposits and other investments 684 873 1,418 1,791
Total Interest Income 73,222 72,237 146,214 144,712
Interest on deposits 1,203 4,825 4,393 8,698
Interest on time certificates 3,820 5,724 8,588 10,683
Interest on borrowed money 927 1,552 2,784 4,421
Total Interest Expense 5,950 12,101 15,765 23,802
Net Interest Income 67,272 60,136 130,449 120,910
Provision for credit losses 7,611 2,551 37,124 3,948
Net Interest Income after Provision for Credit Losses 59,661 57,585 93,325 116,962
Noninterest income        
Other income 13,776 14,043 28,445 26,888
Securities gains (losses), net 1,230 (466) 1,249 (475)
Total Noninterest Income (Note H) 15,006 13,577 29,694 26,413
Total Noninterest Expenses (Note H) 42,399 41,000 90,197 84,099
Income Before Income Taxes 32,268 30,162 32,822 59,276
Provision for income taxes 7,188 6,909 7,033 13,318
Net Income $ 25,080 $ 23,253 $ 25,789 $ 45,958
Share Data        
Net income per share of common stock - diluted (in dollars per share) $ 0.47 $ 0.45 $ 0.49 $ 0.88
Net income per share of common stock - basic (in dollars per share) $ 0.47 $ 0.45 $ 0.49 $ 0.89
Average common shares outstanding - diluted (in shares) 53,308 51,952 52,807 51,998
Average common shares outstanding - basic (in shares) 52,985 51,446 52,394 51,403
v3.20.2
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Statement of Comprehensive Income [Abstract]        
Net Income $ 25,080 $ 23,253 $ 25,789 $ 45,958
Other comprehensive income:        
Unrealized gains on securities available-for-sale 17,581 11,633 17,684 24,309
Reclassification of unrealized losses on securities transferred to available-for-sale upon adoption of new accounting pronouncement 0 0 0 (730)
Amortization of unrealized losses on securities transferred to held-to-maturity, net 59 72 119 143
Reclassification adjustment for (gains) losses included in net income (1,188) 556 (1,092) 643
Provision for income taxes (3,917) (2,774) (3,882) (6,035)
Total other comprehensive income 12,535 9,487 12,829 18,330
Comprehensive Income $ 37,615 $ 32,740 $ 38,618 $ 64,288
v3.20.2
CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)
$ in Thousands
Jun. 30, 2020
Dec. 31, 2019
Assets    
Cash and due from banks $ 84,178 $ 89,843
Interest bearing deposits with other banks 440,142 34,688
Total cash and cash equivalents 524,320 124,531
Time deposits with other banks 2,496 3,742
Debt securities:    
Securities available-for-sale (at fair value) 976,025 946,855
Securities held-to-maturity (fair value $235,946 at June 30, 2020 and $262,213 at December 31, 2019) 227,092 261,369
Total debt securities 1,203,117 1,208,224
Loans held for sale (at fair value) 54,943 20,029
Loans 5,772,052 5,198,404
Less: Allowance for credit losses (91,250) (35,154)
Loans, net of allowance for credit losses 5,680,802 5,163,250
Bank premises and equipment, net 69,041 66,615
Other real estate owned 15,847 12,390
Goodwill 212,146 205,286
Other intangible assets, net 17,950 20,066
Bank owned life insurance 127,954 126,181
Net deferred tax assets 21,404 16,457
Other assets 153,993 141,740
Total Assets 8,084,013 7,108,511
Liabilities    
Deposits 6,666,783 5,584,753
Securities sold under agreements to repurchase, maturing within 30 days 92,125 86,121
Federal Home Loan Bank (FHLB) borrowings 135,000 315,000
Subordinated debt 71,225 71,085
Other liabilities 88,277 65,913
Total Liabilities 7,053,410 6,122,872
Shareholders' Equity    
Common stock, par value $0.10 per share, authorized 120,000,000 shares, issued 53,326,794 and outstanding 52,990,655 at June 30, 2020, and authorized 120,000,000, issued 51,760,617 and outstanding 51,513,733 shares at December 31, 2019 5,299 5,151
Other shareholders' equity 1,025,304 980,488
Total Shareholders' Equity 1,030,603 985,639
Total Liabilities and Shareholders' Equity $ 8,084,013 $ 7,108,511
Common stock, shares outstanding (in shares) 52,990,655 51,513,733
v3.20.2
CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (Parenthetical) - USD ($)
$ in Thousands
Jun. 30, 2020
Dec. 31, 2019
Statement of Financial Position [Abstract]    
Held to maturity, fair value $ 235,946 $ 262,213
Common stock, par value (in dollars per share) $ 0.10 $ 0.10
Common stock, shares authorized (in shares) 120,000,000 120,000,000
Common stock, shares issued (in shares) 53,326,794 51,760,617
Common stock, shares outstanding (in shares) 52,990,655 51,513,733
v3.20.2
CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Cash Flows from Operating Activities    
Net income $ 25,789 $ 45,958
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 3,031 3,308
Amortization of premiums and discounts on securities, net 1,746 1,223
Amortization of operating lease right-of-use assets 2,363 2,041
Other amortization and accretion, net (366) (1,632)
Stock based compensation 3,524 4,027
Origination of loans designated for sale (203,935) (139,219)
Sale of loans designated for sale 174,450 138,961
Provision for credit losses 37,124 3,948
Deferred income taxes (3,328) 3,736
(Gains) losses on sale of securities (1,092) 643
Gains on sale of loans (5,303) (3,980)
Gains on sale and write-downs of other real estate owned (485) (408)
Losses on disposition of fixed assets 220 464
Changes in operating assets and liabilities, net of effects from acquired companies:    
Net increase in other assets (22,451) (21)
Net increase (decrease) in other liabilities 19,139 (9,623)
Net cash provided by operating activities 30,426 49,426
Cash Flows from Investing Activities    
Maturities and repayments of debt securities available-for-sale 134,488 41,564
Maturities and repayments of debt securities held-to-maturity 33,969 16,935
Proceeds from sale of debt securities available-for-sale 92,314 73,297
Purchases of debt securities available-for-sale (239,160) (87,433)
Maturities of time deposits with other banks 1,246 3,263
Net new loans and principal repayments (431,182) (12,017)
Purchases of loans held for investment 0 (50,562)
Proceeds from sale of other real estate owned 4,503 2,722
Proceeds from sale of FHLB and Federal Reserve Bank Stock 33,448 29,070
Purchase of FHLB and Federal Reserve Bank Stock (26,227) (22,648)
Net cash from bank acquisition 33,883 0
Proceeds from bank owned life insurance 0 12,378
Additions to bank premises and equipment (880) (1,485)
Net cash (used in) provided by investing activities (363,598) 5,084
Cash Flows from Financing Activities    
Net increase in deposits 908,288 363,969
Net increase (decrease) in federal funds purchased and repurchase agreements 6,004 (132,308)
Net decrease in FHLB borrowings with original maturities of three months or less (315,000) (177,000)
Repayments of FHLB borrowings with original maturities of more than three months 0 (63,000)
Proceeds from FHLB borrowings with original maturities of more than three months 135,000 0
Stock based employee benefit plans (1,331) (2,343)
Dividends paid 0 0
Net cash provided by (used in) financing activities 732,961 (10,682)
Net increase in cash and cash equivalents 399,789 43,828
Cash and cash equivalents at beginning of period 124,531 115,951
Cash and cash equivalents at end of period 524,320 159,779
Supplemental disclosure of cash flow information:    
Cash paid during the period for interest 15,756 23,200
Cash paid during the period for taxes 3,492 6,000
New operating lease right-of-use assets 52 29,077
New operating lease liabilities 52 33,403
Supplemental disclosure of non cash investing activities:    
Transfer of debt securities from held-to-maturity to available-for-sale 0 52,796
Transfers from loans to other real estate owned 6,186 555
Transfers from bank premises to other real estate owned $ 1,289 $ 0
v3.20.2
CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
Total
Common Stock
Paid-in Capital
Retained Earnings
Treasury Stock
Accumulated Other Comprehensive Income (Loss)
Cumulative Effect Adjustment
Cumulative Effect Adjustment
Retained Earnings
Beginning balance (in shares) at Dec. 31, 2018   51,361            
Beginning balance at Dec. 31, 2018 $ 864,267 $ 5,136 $ 778,501 $ 97,074 $ (3,384) $ (13,060)    
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Comprehensive income 64,288     45,958   18,330    
Stock based compensation expense 4,028   4,028          
Common stock transactions related to stock based employee benefit plans (in shares)   71            
Common stock transactions related to stock based employee benefit plans (2,772) $ 7 (26)   (2,753)      
Common stock issued for stock options (in shares)   29            
Common stock issued for stock options 428 $ 3 425          
Increase (decrease) in shares during period (in shares)   100            
Increase (decrease) in stockholders' equity during period 65,972 $ 10 4,427 45,958 (2,753) 18,330    
Ending balance (in shares) at Jun. 30, 2019   51,461            
Ending balance at Jun. 30, 2019 930,239 $ 5,146 782,928 143,032 (6,137) 5,270    
Beginning balance (in shares) at Mar. 31, 2019   51,414            
Beginning balance at Mar. 31, 2019 896,424 $ 5,141 780,680 119,779 (4,959) (4,217)    
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Comprehensive income 32,740     23,253   9,487    
Stock based compensation expense 1,899   1,899          
Common stock transactions related to stock based employee benefit plans (in shares)   22            
Common stock transactions related to stock based employee benefit plans (1,188) $ 2 (12)   (1,178)      
Common stock issued for stock options (in shares)   25            
Common stock issued for stock options 364 $ 3 361          
Increase (decrease) in shares during period (in shares)   47            
Increase (decrease) in stockholders' equity during period 33,815 $ 5 2,248 23,253 (1,178) 9,487    
Ending balance (in shares) at Jun. 30, 2019   51,461            
Ending balance at Jun. 30, 2019 930,239 $ 5,146 782,928 143,032 (6,137) 5,270    
Beginning balance (in shares) at Dec. 31, 2019   51,514            
Beginning balance at Dec. 31, 2019 985,639 $ 5,151 786,242 195,813 (6,032) 4,465 $ (16,876) $ (16,876)
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Comprehensive income 38,618     25,789   12,829    
Stock based compensation expense 3,523   3,523          
Common stock transactions related to stock based employee benefit plans (in shares)   377            
Common stock transactions related to stock based employee benefit plans (2,014) $ 38 (47)   (2,005)      
Common stock issued for stock options (in shares)   57            
Common stock issued for stock options 682 $ 6 676          
Issuance of common stock, pursuant to acquisition (in shares)   1,043            
Issuance of common stock, pursuant to acquisition 21,031 $ 104 20,927          
Increase (decrease) in shares during period (in shares)   1,477            
Increase (decrease) in stockholders' equity during period 44,964 $ 148 25,079 8,913 (2,005) 12,829    
Ending balance (in shares) at Jun. 30, 2020   52,991            
Ending balance at Jun. 30, 2020 1,030,603 $ 5,299 811,321 204,726 (8,037) 17,294    
Beginning balance (in shares) at Mar. 31, 2020   52,709            
Beginning balance at Mar. 31, 2020 991,787 $ 5,271 809,533 179,646 (7,422) 4,759    
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Comprehensive income 37,615     25,080   12,535    
Stock based compensation expense 1,523   1,523          
Common stock transactions related to stock based employee benefit plans (in shares)   262            
Common stock transactions related to stock based employee benefit plans (604) $ 26 (15)   (615)      
Common stock issued for stock options (in shares)   20            
Common stock issued for stock options 282 $ 2 280          
Increase (decrease) in shares during period (in shares)   282            
Increase (decrease) in stockholders' equity during period 38,816 $ 28 1,788 25,080 (615) 12,535    
Ending balance (in shares) at Jun. 30, 2020   52,991            
Ending balance at Jun. 30, 2020 $ 1,030,603 $ 5,299 $ 811,321 $ 204,726 $ (8,037) $ 17,294    
v3.20.2
Basis of Presentation
 6 Months Ended
Jun. 30, 2020
Accounting Policies [Abstract]  
Basis of Presentation Basis of Presentation
Basis of Presentation: The accompanying unaudited condensed consolidated financial statements of Seacoast Banking Corporation of Florida and its subsidiaries (the "Company") have been prepared in accordance with U.S. generally accepted accounting principles ("U.S. GAAP") for interim financial information and with the instructions to Form 10-Q and Rule 10-01 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. Certain prior period amounts have been reclassified to conform to the current period presentation.
Operating results for the six months ended June 30, 2020 are not necessarily indicative of the results that may be expected for the year ending December 31, 2020 or any other period. For further information, refer to the consolidated financial statements and footnotes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2019.
Use of Estimates: The preparation of these condensed consolidated financial statements requires management to make judgments in the application of certain of its accounting policies that involve significant estimates and assumptions. The Company has established policies and control procedures that are intended to ensure valuation methods are well controlled and applied consistently from period to period. These estimates and assumptions, which may materially affect the reported amounts of certain assets, liabilities, revenues and expenses, are based on information available as of the date of the financial statements, and changes in this information over time and the use of revised estimates and assumptions could materially affect amounts reported in subsequent financial statements. Specific areas, among others, requiring the application of management’s estimates include determination of the allowance for credit losses, acquisition accounting and purchased loans, intangible assets and impairment testing, other fair value adjustments, income taxes and realization of deferred tax assets and contingent liabilities.
Adoption of new accounting pronouncements:
On January 1, 2020, the Company adopted Financial Accounting Standards Board ("FASB") Accounting Standards Codification Topic 326 Financial Instruments - Credit Losses ("ASC Topic 326") which replaces the incurred loss methodology with an expected loss methodology that is referred to as the current expected credit loss ("CECL") methodology. The measurement of expected credit losses under the CECL methodology is applicable to financial assets measured at amortized cost, including loan receivables and held-to-maturity ("HTM") debt securities. It also applies to off-balance sheet credit exposure such as loan commitments, standby letters of credit, financial guarantees and other similar instruments. In addition, ASC Topic 326 changed the accounting for impairment of available-for-sale ("AFS") debt securities.
The Company adopted ASC Topic 326 using the modified retrospective method for all financial assets measured at amortized cost and off-balance sheet credit exposures. Results for the reporting period beginning after January 1, 2020 are presented under ASC Topic 326, while prior period amounts continue to be reported in accordance with previously applicable GAAP. The following table reflects the cumulative effect of adoption:
(in thousands)December 31, 2019CECL adoption impactJanuary 1, 2020
Loans$5,198,404  $(706) $5,197,698  
Allowance for credit losses35,154  21,226  56,380  
Reserve for unfunded commitments140  1,837  1,977  
Deferred tax assets16,457  (5,481) 10,976  
Retained earnings195,813  (16,876) 178,937  
ASC Topic 326 introduced new definitions and criteria for categorizing purchased loans. Loans that, as of the date of acquisition, have experienced a more-than-insignificant deterioration in credit quality since origination are classified as purchased credit deteriorated ("PCD"). Acquired loans which do not meet the definition of PCD are classified by the Company as acquired Non-PCD. At the date of adoption, the Company reclassified all loans previously classified as purchased credit impaired ("PCI") to PCD, and increased the allowance by $0.7 million with a corresponding adjustment to these loans' amortized cost basis. The remaining noncredit discount on loans previously classified as PCI was $0.9 million, which will be accreted into interest income over the remaining life of the loans.
Under CECL, the Company estimates the allowance using relevant available information, from both internal and external sources, relating to past events, current conditions, and reasonable and supportable forecasts. Historical credit losses provide the basis for the estimation of expected credit losses. Adjustments to historical loss information are made for differences in current loan-specific risk characteristics such as differences in underwriting standards, portfolio mix, delinquency level, loan to value ratios, borrower credit characteristics, loan seasoning or term as well as for changes in environmental conditions, such as changes in unemployment rates, property values, occupancy rates, and other macroeconomic metrics.
For loans analyzed on a collective basis, the Company has developed an allowance model based on an analysis of the probability of default ("PD") and loss given default ("LGD") to determine an expected loss by loan segment. PDs and LGDs are developed by analyzing the average historical loss migration of loans to default. The Company excludes accrued interest on loans from its determination of allowance.
The allowance estimation process also applies an economic forecast scenario over a three year forecast period. The forecast may utilize one scenario or a composite of scenarios based on management's judgment and expectations around the current and future macroeconomic outlook. Expected credit losses are estimated over the contractual term of the loans, adjusted for expected prepayments when appropriate. The contractual term excludes expected extensions, renewals, and modification unless either of the following applies: management has a reasonable expectation at the reporting date that a troubled debt restructuring ("TDR") will be executed with an individual borrower, or the extension or renewal options are explicitly stated in the contract and are not unconditionally under the control of the Company. For portfolio segments with a weighted average life longer than three years, the Company reverts to longer-term historical loss experience, adjusted for prepayments, to estimate losses over the remaining life of the loans within each segment.
Adjustments may be made to baseline reserves based on an assessment of internal and external influences on credit quality not fully reflected in the quantitative components of the allowance model. These influences may include elements such as changes in concentration, macroeconomic conditions, recent observable asset quality trends, staff turnover, regional market conditions, employment levels and loan growth. Based on management's assessments of these factors, the Company may apply qualitative adjustments to the allowance.
Loans that do not share risk characteristics are evaluated on an individual basis. Loans evaluated individually are not also included in the collective evaluation. Loans evaluated individually are collateral dependent and primarily secured by real estate. When management determines that foreclosure is probable, expected credit losses are based on the fair value of the collateral at the reporting date, adjusted for selling costs as appropriate.
In response to the COVID-19 pandemic beginning in early 2020, rules defined in the Coronavirus Aid, Relief and Economic Security ("CARES") Act and a joint statement issued by federal regulators in consultation with FASB provide financial institutions with the option not to apply troubled debt restructure ("TDR") accounting to eligible loan modifications provided to borrowers affected by COVID-19 pandemic. See Note E - Loans for information on loan modifications offered by the Company under this guidance. Outside of this guidance, a loan for which the terms have been modified resulting in a concession, and for which the borrower is experiencing financial difficulty, is considered to be a TDR. The allowance for credit losses on a TDR is measured using the same method as all other loans held for investment, except when the value of a concession cannot be measured using a method other than the discounted cash flow method. When the value of a concession is measured using the discounted cash flow method, the allowance for credit losses is determined by discounting the expected future cash flows at the original interest rate of the loan.
The Company estimates a reserve for unfunded commitments, which is reported separately from the allowance for credit losses within other liabilities. The reserve is based upon the same quantitative and qualitative factors applied to the collectively evaluated loan portfolio.
All HTM debt securities are issued by government-sponsored entities, which are either explicitly or implicitly guaranteed by the U.S. government and have a long history of no credit losses. In addition, the credit rating on all the Company's HTM debt securities as of the date of adoption is AA+. There is no history of the government withholding or limiting support to these agencies, nor is there any indication of a change to that historical support. While the potential for default on these securities may be something greater than zero, the long history with no credit losses, the implied government guarantee of principal and interest payments and the high credit rating of the HTM portfolio provide sufficient basis for the current expectation that there is zero risk of loss if default were to occur. As a result, the Company recorded no allowance for HTM debt securities with fair value less than amortized cost basis at the date of adoption.
ASC Topic 326 amended the existing other-than-temporary-impairment guidance for AFS securities, requiring credit losses to be recorded as an allowance rather than through a permanent write-down. When evaluating AFS debt securities under ASC Topic 326, the Company has evaluated whether the decline in fair value is attributed to credit losses or other factors using both
quantitative and qualitative analyses, including cash flow analysis, review of credit ratings, remaining payment terms, prepayment speeds and analysis of macro-economic conditions. At the date of adoption, collateralized loan obligations had unrealized losses of $1.2 million. The collateral for these securities is first lien senior secured corporate debt, and the Company holds senior tranches rated A or higher. Based on this analysis, the Company believes that the unrealized loss position for AFS debt securities at the time of adoption was the result of both broad investment type spreads and the current rate environment. Each investment is expected to recover its price depreciation over its holding period as it moves to maturity and the Company has the intent and ability to hold these securities to maturity if necessary. As a result of this evaluation, the Company concluded that no allowance was appropriate.
In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform (Topic 848). The guidance provides accounting relief to contract modifications that replace an interest rate impacted by reference rate reform (e.g. London Inter-Bank Offered Rate ("LIBOR")) with a new alternative reference rate. The guidance is applicable to investment securities, receivables, loans, debt, leases, derivatives and hedge accounting elections, and other contractual arrangements. The Company applied the guidance prospectively beginning April 1, 2020, with no material impact on the financial position, results of operations or cash flows.
v3.20.2
Recently Issued Accounting Standards, Not Yet Adopted
 6 Months Ended
Jun. 30, 2020
Accounting Policies [Abstract]  
Recently Issued Accounting Standards, Not Yet Adopted Recently Issued Accounting Standards, Not Yet AdoptedNone this period.
v3.20.2
Earnings per Share
 6 Months Ended
Jun. 30, 2020
Earnings Per Share [Abstract]  
Earnings per Share Earnings per Share
Basic earnings per common share is computed by dividing net income available to common shareholders by the weighted average number of shares of common stock outstanding during the period.
For the three and six months ended June 30, 2020, options to purchase 508,000 and 489,000 shares, respectively, were anti-dilutive and, accordingly, were excluded in the computation of diluted earnings per share, compared to 494,000 shares for the three and six months ended June 30, 2019.
Three Months Ended June 30,Six Months Ended June 30,
(Dollars in thousands, except per share data)2020201920202019
Basic earnings per share  
Net income$25,080  $23,253  $25,789  $45,958  
Average common shares outstanding52,985  51,446  52,394  51,403  
Net income per share$0.47  $0.45  $0.49  $0.89  
Diluted earnings per share
Net income$25,080  $23,253  $25,789  $45,958  
Average common shares outstanding52,985  51,446  52,394  51,403  
Add: Dilutive effect of employee restricted stock and stock options323  506  413  595  
Average diluted shares outstanding53,308  51,952  52,807  51,998  
Net income per share$0.47  $0.45  $0.49  $0.88  
v3.20.2
Securities
 6 Months Ended
Jun. 30, 2020
Investments, Debt and Equity Securities [Abstract]  
Securities Securities
The amortized cost, gross unrealized gains and losses and fair value of securities available-for-sale and held-to-maturity at June 30, 2020 and December 31, 2019 are summarized as follows:
 June 30, 2020
(In thousands)Amortized
Cost		Gross
Unrealized
Gains		Gross Unrealized
Losses		Fair
Value
Debt securities available-for-sale    
U.S. Treasury securities and obligations of U.S. government agencies$8,981  $418  $(1) $9,398  
Mortgage-backed securities and collateralized mortgage obligations of U.S. government-sponsored entities636,528  24,747  (90) 661,185  
Private mortgage-backed securities and collateralized mortgage obligations75,756  1,645  (550) 76,851  
Collateralized loan obligations204,258  3  (5,444) 198,817  
Obligations of state and political subdivisions27,819  1,958  (3) 29,774  
Totals$953,342  $28,771  $(6,088) $976,025  
Debt securities held-to-maturity
Mortgage-backed securities of U.S. government-sponsored entities$227,092  $8,860  $(6) $235,946  
Totals$227,092  $8,860  $(6) $235,946  
 December 31, 2019
(In thousands)Amortized
Cost		Gross Unrealized
Gains		Gross Unrealized
Losses		Fair
Value
Debt securities available-for-sale    
U.S. Treasury securities and obligations of U.S. government agencies$9,914  $204  $(4) $10,114  
Mortgage-backed securities and collateralized mortgage obligations of U.S. government-sponsored entities604,934  5,784  (1,511) 609,207  
Private mortgage-backed securities and collateralized mortgage obligations56,005  1,561  (5) 57,561  
Collateralized loan obligations239,364  7  (1,153) 238,218  
Obligations of state and political subdivisions30,548  1,208  (1) 31,755  
Totals$940,765  $8,764  $(2,674) $946,855  
Debt securities held-to-maturity
Mortgage-backed securities of U.S. government-sponsored entities261,369  2,717  (1,873) 262,213  
Totals$261,369  $2,717  $(1,873) $262,213  
Proceeds from sales of securities during the three months ended June 30, 2020 and 2019 were $64.5 million and $38.2 million, respectively. Included in "Securities gains (losses), net" are gross gains of $2.3 million and gross losses of $1.1 million for the three months ended June 30, 2020. For the three months ended June 30, 2019, gross losses of $0.6 million on available-for-sale debt securities and an increase of $0.1 million in the value of an investment in shares of a mutual fund that invests primarily in CRA-qualified debt securities are included in "Securities gains (losses), net".
Proceeds from sales of securities during the six months ended June 30, 2020 and 2019 were $92.3 million and $73.3 million, respectively. Included in "Securities gains (losses), net" are gross gains of $2.4 million and gross losses of $1.3 million for the six months ended June 30, 2020. Also included are gross gains of $0.2 million and gross losses of $0.9 million for the six months ended June 30, 2019. "Securities gains (losses), net" also includes an increase of $0.2 million for each of the six months ended June 30, 2020 and 2019, in the value of an investment in shares of a mutual fund that invests primarily in CRA-qualified
debt securities. The second quarter of 2020 included repositioning of investments in collateralized loan obligations ("CLO") securities, replacing "A" rated securities with "AAA" rated securities.
At June 30, 2020, debt securities with a fair value of $330.3 million were pledged primarily as collateral for public deposits and secured borrowings.
The amortized cost and fair value of debt securities held-to-maturity and available-for-sale at June 30, 2020, by contractual maturity, are shown below. Expected maturities will differ from contractual maturities because prepayments of the underlying collateral for these securities may occur, due to the right to call or repay obligations with or without call or prepayment penalties. Securities not due at a single maturity date are shown separately.
 Held to MaturityAvailable-for-Sale
(In thousands)Amortized
Cost		Fair
Value		Amortized
Cost		Fair
Value
Due in less than one year$—  $—  $2,100  $2,125  
Due after one year through five years—  —  8,655  9,063  
Due after five years through ten years—  —  8,577  9,200  
Due after ten years—  —  17,468  18,784  
 —  —  36,800  39,172  
Mortgage-backed securities and collateralized mortgage obligations of U.S. government-sponsored entities227,092  235,946  636,528  661,185  
Private mortgage-backed securities and collateralized mortgage obligations—  —  75,756  76,851  
Collateralized loan obligations—  —  204,258  198,817  
Totals$227,092  $235,946  $953,342  $976,025  
The estimated fair value of a security is determined based on market quotations when available or, if not available, by using quoted market prices for similar securities, pricing models or discounted cash flows analyses, or using observable market data. The tables below indicate, at June 30, 2020, the fair value of available-for-sale debt securities with unrealized losses for which no allowance for credit losses has been recorded, and at December 31, 2019, the fair value of available-for-sale and held-to-maturity debt securities with unrealized losses for which no allowance has been recorded.
 June 30, 2020
 Less Than 12 Months12 Months or LongerTotal
(In thousands)Fair
Value		Unrealized
Losses		Fair
Value		Unrealized
Losses		Fair
Value		Unrealized
Losses
U.S. Treasury securities and obligations of U.S. government agencies$269  (1) $—  $—  $269  $(1) 
Mortgage-backed securities and collateralized mortgage obligations of U.S. government-sponsored entities65,273  (74) 357  (16) 65,630  (90) 
Private mortgage-backed securities and collateralized mortgage obligations24,532  (550) —  —  24,532  (550) 
Collateralized loan obligations84,299  (1,638) 108,609  (3,806) 192,908  (5,444) 
Obligations of state and political subdivisions512  (3) —  —  512  (3) 
Totals$174,885  $(2,266) $108,966  $(3,822) $283,851  $(6,088) 
 December 31, 2019
 Less Than 12 Months12 Months or LongerTotal
(In thousands)Fair
Value		Unrealized
Losses		Fair
Value		Unrealized
Losses		Fair
Value		Unrealized
Losses
U.S. Treasury securities and obligations of U.S. government agencies$758  $(4) $—  $—  $758  $(4) 
Mortgage-backed securities and collateralized mortgage obligations of U.S. government-sponsored entities220,057  (1,461) 104,184  (1,923) 324,241  (3,384) 
Private mortgage-backed securities and collateralized mortgage obligations2,978  (5) —  —  2,978  (5) 
Collateralized loan obligations88,680  (570) 110,767  (583) 199,447  (1,153) 
Obligations of state and political subdivisions515  (1) —  —  515  (1) 
Totals$312,988  $(2,041) $214,951  $(2,506) $527,939  $(4,547) 
At June 30, 2020, the Company had $5.4 million in unrealized losses in uncapped 3-month LIBOR floating rate collateralized loan obligations ("CLOs") having a fair value of $192.9 million. CLOs are special purpose vehicles and those in which the Company has invested acquire nearly all first-lien, broadly syndicated corporate loans across a diversified band of industries while providing support to senior tranche investors. As of June 30, 2020, all positions held by the Company are in AAA and AA tranches, with average credit support of 36% and 26%, respectively. The Company evaluates the securities for potential credit losses by modeling expected loan-level defaults, recoveries, and prepayments for each CLO security. Based on the assessment of all relevant factors, the Company believes that the unrealized loss positions on these debt securities are a function of changes in investment spreads and interest rate movements and not changes in credit quality, and expects to recover the entire amortized cost basis of these securities. Therefore, at June 30, 2020, no allowance for credit losses has been recorded.
At June 30, 2020, the Company had $0.6 million of unrealized losses on private label residential and commercial mortgage-backed securities and collateralized mortgage obligations having a fair value of $24.5 million. The collateral underlying these mortgage investments is primarily residential real estate. The securities have average credit support of 22%. Based on the assessment of all relevant factors, the Company believes that the unrealized loss positions on these debt securities are a function of changes in investment spreads and interest rate movements and not changes in credit quality, and expects to recover the entire amortized cost basis of these securities. Therefore, at June 30, 2020, no allowance for credit losses has been recorded.
All HTM debt securities are issued by government-sponsored entities, which are either explicitly or implicitly guaranteed by the U.S. government and have a long history of no credit losses. While the potential for default on these securities may be something greater than zero, the long history with no credit losses, the implied government guarantee of principal and interest payments and the high credit rating of the HTM portfolio provide sufficient basis for the current expectation that there is no risk of loss if default were to occur. Despite the emergence of significant market changes and increasing degrees of uncertainty in the U.S. economy in 2020, there has to date been no specific impact on the agencies or changes in the nature or quality of the guarantee they provide. As a result, as of June 30, 2020, no allowance for credit losses has been recorded.
Included in other assets at June 30, 2020 is $37.2 million of Federal Home Loan Bank and Federal Reserve Bank stock stated at par value. The Company has not identified events or changes in circumstances that may have a significant adverse effect on the fair value of these cost method investment securities. Also included in other assets is a $6.5 million investment in a CRA-qualified mutual fund carried at fair value. Accrued interest receivable on AFS and HTM debt securities of $3.1 million and $0.5 million at June 30, 2020, respectively, and $3.8 million and $0.6 million at December 31, 2019, respectively, is also included in other assets.
The Company holds 11,330 shares of Visa Class B stock, which, following resolution of Visa litigation, will be converted to Visa Class A shares. Under the current conversion ratio that became effective September 27, 2019, the Company would receive 1.6228 shares of Class A stock for each share of Class B stock for a total of 18,386 shares of Visa Class A stock. The ownership of Visa stock is related to prior ownership in Visa's network while Visa operated as a cooperative, and is recorded on the Company's financial records at a zero basis.
v3.20.2
Loans
 6 Months Ended
Jun. 30, 2020
Receivables [Abstract]  
Loans Loans
Loans held for investment are categorized into the following segments:
•Construction and land development: Loans are extended to both commercial and consumer customers which are collateralized by and for the purpose of funding land development and construction projects, including 1-4 family residential construction, multi-family property and non-farm residential property where the primary source of repayment is from proceeds of the sale, refinancing or permanent financing of the property.
•Commercial real estate - owner-occupied: Loans are extended to commercial customers for the purpose of acquiring real estate to be occupied by the borrower's business. These loans are collateralized by the subject property and the repayment of these loans is largely dependent on the performance of the company occupying the property.
•Commercial real estate - non owner-occupied: Loans are extended to commercial customers for the purpose of acquiring commercial property where occupancy by the borrower is not their primary intent. These loans are viewed primarily as cash flow loans, collateralized by the subject property, and the repayment of these loans is largely dependent on rental income from the successful operation of the property.
•Residential real estate: Loans are extended to consumer customers and collateralized primarily by 1-4 family residential properties and include fixed and variable rate mortgages, home equity mortgages, and home equity lines of credit. Loans are primarily written based on conventional loan agency guidelines, including loans that exceed agency value limitations. Sources of repayment may be from the occupant of the residential property or from cash flows on rental income from the successful operation of the property.
•Commercial and financial: Loans are extended to commercial customers. The purpose of the loans can be working capital, physical asset expansion, asset acquisition or other business purposes. Loans may be collateralized by assets owned by the borrower or the borrower's business. Commercial loans are based primarily on the historical and projected cash flow of the borrower's business and secondarily on the capacity of credit enhancements, guarantees and underlying collateral provided by the borrower.
•Consumer: Loans are extended to consumer customers. The segment includes both installment loans and lines of credit which may be collateralized or non-collateralized.
•Paycheck Protection Program ("PPP"): Loans originated under a temporary program established by the CARES Act. Under the terms of the program, balances may be forgiven if the borrower uses the funds in a manner consistent with the program guidelines, and repayment is guaranteed by the U.S. government.
The following tables present net loan balances by segment as of:
 June 30, 2020
(In thousands)Portfolio LoansAcquired Non-PCD LoansPCD LoansTotal
Construction and land development$270,715  $25,691  $2,429  $298,835  
Commercial real estate - owner-occupied832,943  216,598  27,109  1,076,650  
Commercial real estate - non owner-occupied1,074,063  306,880  11,844  1,392,787  
Residential real estate1,249,368  210,247  8,556  1,468,171  
Commercial and financial692,933  63,272  1,027  757,232  
Consumer195,863  5,700  364  201,927  
Paycheck Protection Program576,450  —  —  576,450  
Totals$4,892,335  $828,388  $51,329  $5,772,052  
 December 31, 2019
(In thousands)Portfolio LoansPULsPCI LoansTotal
Construction and land development$281,335  $43,618  $160  $325,113  
Commercial real estate1
1,834,811  533,943  10,217  2,378,971  
Residential real estate1,304,305  201,848  1,710  1,507,863  
Commercial and financial697,301  80,372  579  778,252  
Consumer200,166  8,039  —  208,205  
Totals$4,317,918  $867,820  $12,666  $5,198,404  
1Commercial real estate includes owner-occupied balances of $1.0 billion for December 31, 2019.
The amortized cost basis of loans at June 30, 2020 included net deferred costs of $21.5 million on non-PPP portfolio loans and net deferred fees of $13.0 million on PPP loans. At December 31, 2019, the amortized cost basis included net deferred costs of $19.9 million. In the first quarter of 2020, the Company completed the acquisition of First Bank of the Palm Beaches, adding PCD loans of $43.0 million and Non-PCD loans of $103.8 million. See additional discussion in Note L - Business Combinations. At June 30, 2020, the remaining fair value adjustments on acquired loans was $28.9 million, or 3.3% of the outstanding acquired loan balances, which consisted of $1.0 million on PCD loans and $27.9 million on acquired Non-PCD loans. At December 31, 2019, the remaining fair value adjustments for acquired loans was $34.9 million, or 3.8% of the acquired loan balances. These amounts are accreted into interest income over the remaining lives of the related loans on a level yield basis. Accrued interest receivable is included within Other Assets and was $25.3 million and $14.9 million at June 30, 2020 and December 31, 2019, respectively.
The following tables present the status of net loan balances as of June 30, 2020 and December 31, 2019. Loans on short-term payment deferral at the reporting date are reflected as current.
 June 30, 2020
(In thousands)CurrentAccruing
30-59 Days
Past Due		Accruing
60-89 Days
Past Due		Accruing
Greater
Than
90 Days		NonaccrualTotal
Portfolio Loans      
Construction and land development$270,070  $—  $623  $—  $22  $270,715  
Commercial real estate - owner-occupied829,903  —  —  615  2,425  832,943  
Commercial real estate - non owner-occupied1,069,979  1,988  —  —  2,096  1,074,063  
Residential real estate1,230,480  3,729  4,833  —  10,326  1,249,368  
Commercial and financial683,667  2,034  39  216  6,977  692,933  
Consumer195,246  169  46  —  402  195,863  
Paycheck Protection Program
576,450  —  —  —  —  576,450  
Total Portfolio Loans4,855,795  7,920  5,541  831  22,248  4,892,335  
Acquired Non-PCD Loans
Construction and land development25,117  —  —  —  574  25,691  
Commercial real estate - owner-occupied213,731  1,526  —  —  1,341  216,598  
Commercial real estate - non owner-occupied306,612  —  —  268  —  306,880  
Residential real estate208,963  —  —  —  1,284  210,247  
Commercial and financial60,941  —  —  —  2,331  63,272  
Consumer5,677  23  —  —  —  5,700  
 Total Acquired Non-PCD Loans821,041  1,549  —  268  5,530  828,388  
PCD Loans
Construction and land development2,419  —  —  —  10  2,429  
Commercial real estate - owner-occupied27,109  —  —  —  —  27,109  
Commercial real estate - non owner-occupied10,808  —  —  —  1,036  11,844  
Residential real estate7,379  —  —  —  1,177  8,556  
Commercial and financial977  —  —  —  50  1,027  
Consumer277  87  —  —  —  364  
Total PCD Loans48,969  87  —  —  2,273  51,329  
Total Loans$5,725,805  $9,556  $5,541  $1,099  $30,051  $5,772,052  
 
 December 31, 2019
(In thousands)CurrentAccruing
30-59 Days
Past Due		Accruing
60-89 Days
Past Due		Accruing
Greater
Than
90 Days		NonaccrualTotal
Portfolio Loans      
Construction and land development$276,984  $—  $—  $—  $4,351  $281,335  
Commercial real estate1,828,629  1,606  220  —  4,356  1,834,811  
Residential real estate1,294,778  1,564  18  —  7,945  1,304,305  
Commercial and financial690,412  2,553  —  108  4,228  697,301  
Consumer199,424  317  315  —  110  200,166  
 Total Portfolio Loans4,290,227  6,040  553  108  20,990  4,317,918  
Purchased Unimpaired Loans
Construction and land development43,044  —  —  —  574  43,618  
Commercial real estate531,325  942  431  —  1,245  533,943  
Residential real estate201,159  277  —  —  412  201,848  
Commercial and financial78,705  —  —  —  1,667  80,372  
Consumer8,039  —  —  —  —  8,039  
 Total PULs862,272  1,219  431  —  3,898  867,820  
Purchased Credit Impaired Loans
Construction and land development148  —  —  —  12  160  
Commercial real estate9,298  —  —  —  919  10,217  
Residential real estate587  —  —  —  1,123  1,710  
Commercial and financial566  —  —  —  13  579  
Consumer—  —  —  —  —  —  
 Total PCI Loans10,599  —  —  —  2,067  12,666  
Total Loans$5,163,098  $7,259  $984  $108  $26,955  $5,198,404  
All interest accrued but not received for loans placed on nonaccrual is reversed against interest income. Interest received on such loans is accounted for on the cost-recovery method. Under the cost-recovery method, interest income is not recognized until the loan balance is reduced to zero. Loans are returned to accrual status when all the principal and interest amounts contractually due are brought current, and future payments are reasonably assured. The Company recognized $0.3 million in interest income on nonaccrual loans during each of the three months ended June 30, 2020 and 2019. The following tables present net balances of loans on nonaccrual status and the related allowance for credit losses, if any, as of:
June 30, 2020
(In thousands)Nonaccrual Loans With No Related AllowanceNonaccrual Loans With an AllowanceTotal Nonaccrual LoansAllowance for Credit Losses
Construction and land development$585  $21  $606  $11  
Commercial real estate - owner-occupied3,445  321  3,766  160  
Commercial real estate - non owner-occupied2,096  1,036  3,132  204  
Residential real estate11,871  916  12,787  793  
Commercial and financial4,808  4,550  9,358  3,409  
Consumer32  370  402  86  
Totals $22,837  $7,214  $30,051  $4,663  
December 31, 2019
(In thousands)Nonaccrual Loans With No Related AllowanceNonaccrual Loans With an AllowanceTotal Nonaccrual LoansAllowance for Credit Losses
Construction and land development$4,913  $23  $4,936  $12  
Commercial real estate6,200  320  6,520  149  
Residential real estate8,700  780  9,480  564  
Commercial and financial3,449  2,460  5,909  1,622  
Consumer39  71  110  37  
Totals$23,301  $3,654  $26,955  $2,384  
Collateral Dependent Loans

Loans are considered collateral dependent when the repayment, based on the Company's assessment as of the reporting date, is expected to be provided substantially through the operation or sale of the underlying collateral and there are no other available and reliable sources of repayment. The following table presents collateral dependent loans as of:
(In thousands)June 30, 2020December 31, 2019
Construction and land development$634  $4,926  
Commercial real estate - owner-occupied6,173  2,571  
Commercial real estate - non owner-occupied3,574  3,152  
Residential real estate 14,117  11,550  
Commercial and financial5,526  4,338  
Consumer410  141  
Totals $30,434  $26,678  

Loans by Risk Rating

The Company utilizes an internal asset classification system as a means of identifying problem and potential problem loans. The following classifications are used to categorize loans under the internal classification system:

•Pass: Loans that are not problem loans or potential problem loans are considered to be pass-rated.
•Special Mention: Loans that do not currently expose the Company to sufficient risk to warrant classification in the Substandard or Doubtful categories, but possess weaknesses that deserve management's close attention are deemed to be Special Mention.
•Substandard: Loans with the distinct possibility that the Company will sustain some loss if the deficiencies are not corrected.
•Substandard Impaired: Loans typically placed on nonaccrual and considered to be collateral dependent or accruing TDRs.
•Doubtful: Loans that have all the weaknesses inherent in those classified Substandard with the added characteristic that the weakness present makes collection or liquidation in full, on the basis of currently existing facts, conditions and values, highly questionable and improbable. The principal balance of loans classified as doubtful are likely to be charged off.
The following tables present the risk rating of loans by year of origination:
June 30, 2020
(In thousands)20202019201820172016PriorRevolvingTotal
Construction and Land Development
Risk Ratings:
Pass$29,412  $95,549  $70,528  $35,134  $10,478  $18,260  $33,439  $292,800  
Special Mention198  503  1,378  38  —  2,147  —  4,264  
Substandard—  —  —  —  —  58  988  1,046  
Substandard Impaired —  —  —  —  574  151  —  725  
Doubtful—  —  —  —  —  —  —  —  
Total29,610  96,052  71,906  35,172  11,052  20,616  34,427  298,835  
Commercial real estate - owner-occupied
Risk Ratings:
Pass74,304  185,717  157,946  139,936  158,728  317,778  15,952  1,050,361  
Special Mention199  1,616  —  1,016  4,471  4,088  —  11,390  
Substandard—  —  570  3,782  1,066  5,100  —  10,518  
Substandard Impaired —  —  —  426  —  3,634  —  4,060  
Doubtful1
—  —  —  —  321  —  —  321  
Total74,503  187,333  158,516  145,160  164,586  330,600  15,952  1,076,650  
Commercial real estate - non owner-occupied
Risk Ratings:
Pass80,710  321,844  230,276  130,437  196,698  390,280  6,150  1,356,395  
Special Mention—  105  —  1,376  7,876  1,117  —  10,474  
Substandard—  —  5,705  —  8,326  6,367  1,350  21,748  
Substandard Impaired —  —  —  —  126  4,044  —  4,170  
Doubtful—  —  —  —  —  —  —  —  
Total80,710  321,949  235,981  131,813  213,026  401,808  7,500  1,392,787  
Residential real estate
Risk Ratings:
Pass32,562  160,057  261,757  273,829  196,662  202,708  312,596  1,440,171  
Special Mention—  190  277  721  3,387  621  68  5,264  
Substandard—  —  1,334  —  —  1,607  1,580  4,521  
Substandard Impaired 84  693  —  3,613  —  10,495  3,330  18,215  
Doubtful—  —  —  —  —  —  —  —  
Total32,646  160,940  263,368  278,163  200,049  215,431  317,574  1,468,171  
Commercial and financial
Risk Ratings:
Pass100,094  152,509  115,004  88,448  44,728  52,576  185,175  738,534  
Special Mention—  287  14  530  95  2,255  1,181  4,362  
Substandard—  148  337  259  425  1,698  2,099  4,966  
Substandard Impaired —  644  1,847  2,403  1,819  940  1,669  9,322  
Doubtful1
—  —  —  39  —  —  9  48  
Total100,094  153,588  117,202  91,679  47,067  57,469  190,133  757,232  
June 30, 2020
(In thousands)20202019201820172016PriorRevolvingTotal
Consumer
Risk Ratings:
Pass29,140  55,596  38,416  25,291  26,191  12,986  11,225  198,845  
Special Mention—  23  29  105  —  87  1,751  1,995  
Substandard—  —  —  19  8  39  340  406  
Substandard Impaired 41  52  48  —  316  224  —  681  
Doubtful—  —  —  —  —  —  —  —  
Total29,181  55,671  38,493  25,415  26,515  13,336  13,316  201,927  
Paycheck Protection Program
Risk Ratings:
Pass576,450  —  —  —  —  —  —  576,450  
Total576,450  —  —  —  —  —  —  576,450  
Consolidated
Risk Ratings:
Pass922,672  971,272  873,927  693,075  633,485  994,588  564,537  5,653,556  
Special Mention397  2,724  1,698  3,786  15,829  10,315  3,000  37,749  
Substandard—  148  7,946  4,060  9,825  14,869  6,357  43,205  
Substandard Impaired 125  1,389  1,895  6,442  2,835  19,488  4,999  37,173  
Doubtful1
—  —  —  39  321  —  9  369  
Total$923,194  $975,533  $885,466  $707,402  $662,295  $1,039,260  $578,902  $5,772,052  
1Loans classified as doubtful are fully reserved as of June 30, 2020.
The following table presents the risk rating of loans as of:
 December 31, 2019
(In thousands)PassSpecial
Mention		Substandard
Doubtful1
Total
Construction and land development$317,765  $2,235  $5,113  $—  $325,113  
Commercial real estate2,331,725  26,827  20,098  321  2,378,971  
Residential real estate1,482,278  7,364  18,221  —  1,507,863  
Commercial and financial755,957  11,925  9,496  874  778,252  
Consumer203,966  3,209  1,030  —  208,205  
 Totals$5,091,691  $51,560  $53,958  $1,195  $5,198,404  
1Loans classified as doubtful are fully reserved as of December 31, 2019.
Troubled Debt Restructured Loans
 
The Company’s TDR concessions granted to certain borrowers generally do not include forgiveness of principal balances, but may include interest rate reductions, an extension of the amortization period and/or converting the loan to interest only for a limited period of time. Loan modifications are not reported in calendar years after modification if the loans were modified at an interest rate equal to the yields of new loan originations with comparable risk and the loans are performing based on the terms of the restructuring agreements.
Loans Modified in Connection with COVID-19 Pandemic
The CARES Act, which was signed into law on March 27, 2020, encourages financial institutions to practice prudent efforts to work with borrowers impacted by the COVID-19 pandemic by providing an option for financial institutions to exclude from TDR consideration certain loan modifications that might otherwise be categorized as TDRs under ASC 310-40. This option is available for modifications that are deemed to be COVID-related, where the borrower was not more than 30 days past due on
December 31, 2019, and the modification is executed between March 1, 2020 and the earlier of (i) December 31, 2020 or (ii) 60 days after the end of the COVID-19 national emergency. Federal banking regulators issued similar guidance that also allows lenders to conclude that short-term modifications for borrowers affected by the pandemic should not be considered TDRs if the borrower was current at the time of modification. Seacoast began offering short-term payment deferrals of up to six months to eligible borrowers in March 2020 and, at June 30, 2020, had $1.1 billion of loans on payment deferral, none of which have been classified as TDRs.

The following table presents loans on payment deferral, excluding PPP loans, as of June 30, 2020:
(In thousands)Loans Outstanding% on Payment Deferral
Construction and land development$14,488  5%
Commercial real estate - owner-occupied320,406  30%
Commercial real estate - non owner-occupied445,311  32%
Residential real estate148,035  10%
Commercial and financial130,877  17%
Consumer17,926  9%
Totals$1,077,043  21%
The following table presents loans that were modified in a troubled debt restructuring during the three and six months ended:
Three Months Ended June 30,
20202019
(In thousands)Number of ContractsPre-Modification Outstanding Recorded InvestmentPost-Modification Outstanding Recorded InvestmentNumber of ContractsPre-Modification Outstanding Recorded InvestmentPost-Modification Outstanding Recorded Investment
Construction and land development1  $12  $12  —  $—  $—  
Commercial real estate - owner-occupied—  —  —  1  351  351  
Commercial real estate - non owner-occupied—  —  —  —  —  —  
Residential real estate—  —  —  —  —  —  
Commercial and financial—  —  —  —  —  —  
Consumer2  47  47  1  19  19  
Totals3  $59  $59  2  $370  $370  
Six Months Ended June 30,
20202019
(In thousands)Number of ContractsPre-Modification Outstanding Recorded InvestmentPost-Modification Outstanding Recorded InvestmentNumber of ContractsPre-Modification Outstanding Recorded InvestmentPost-Modification Outstanding Recorded Investment
Construction and land development1  $12  $12  —  $—  $—  
Commercial real estate - owner-occupied—  —  —  2  2,166  2,166  
Commercial real estate - non owner-occupied—  —  —  —  —  —  
Residential real estate 1  45  45  —  —  —  
Commercial and financial4  437  437  1  180  180  
Consumer2  47  47  1  19  19  
 Totals 8  $541  $541  4  $2,365  $2,365  

The TDRs described above resulted in a specific allowance for credit losses of $0.4 million as of June 30, 2020, and no specific allowance for credit losses as of June 30, 2019. During the six months ended June 30, 2020, there were three defaults totaling $1.4 million of loans that had been modified in TDRs within the preceding twelve months. During the six months ended June 30, 2019, there were no payment defaults on loans that had been modified to a TDR within the preceding twelve months. The Company considers a loan to have defaulted when it becomes 90 days or more delinquent under the modified terms, has been transferred to nonaccrual status, or has been transferred to other real estate owned. For loans measured based on the present value of expected future cash flows, $21,000 and $27,000 for the three months ended June 30, 2020, and 2019, respectively, and $46,000 and $62,000 for the six months ended June 30, 2020, and 2019, respectively, was included in interest income and represents the change in present value attributable to the passage of time.
v3.20.2
Allowance for Credit Losses
 6 Months Ended
Jun. 30, 2020
Receivables [Abstract]  
Allowance for Credit Losses Allowance for Credit Losses
Activity in the allowance for credit losses is summarized as follows:
 Three Months Ended June 30, 2020
(In thousands)Beginning
Balance		Provision
for Credit
Losses		Charge-
Offs		RecoveriesTDR
Allowance
Adjustments		Ending
Balance
Construction and land development$4,646  $2,478  $—  $37  $—  $7,161  
Commercial real estate - owner-occupied5,327  229  —  18  (12) 5,562  
Commercial real estate - non owner-occupied35,643  3,345  —  4  —  38,992  
Residential real estate19,899  574  (113) 101  (8) 20,453  
Commercial and financial15,470  1,319  (1,768) 493  —  15,514  
Consumer4,426  (334) (614) 91  (1) 3,568  
Paycheck Protection Program—  —  —  —  —  —  
Totals$85,411  $7,611  $(2,495) $744  $(21) $91,250  

 Three Months Ended June 30, 2019
(In thousands)Beginning
Balance		Provision
for Loan
Losses		Charge-
Offs		RecoveriesTDR
Allowance
Adjustments		Ending
Balance
Construction and land development$2,320  $(79) $(1) $3  $—  $2,243  
Commercial real estate11,753  (433) —  565  (15) 11,870  
Residential real estate7,445  51  (28) 51  (11) 7,508  
Commercial and financial8,573  2,114  (1,881) 106  —  8,912  
Consumer2,731  898  (734) 78  (1) 2,972  
Totals$32,822  $2,551  $(2,644) $803  $(27) $33,505  

Six Months Ended June 30, 2020
(In thousands)Beginning
Balance		Impact of Adoption of ASC 326 Initial Allowance on PCD Loans Acquired During the PeriodProvision
for Credit
Losses		Charge-
Offs		RecoveriesTDR
Allowance
Adjustments		Ending
Balance
Construction and land development$1,842  $1,479  $48  $3,727  $—  $66  $(1) $7,161  
Commercial real estate - owner-occupied5,361  80  207  (34) (45) 18  (25) 5,562  
Commercial real estate - non owner-occupied7,863  9,341  140  21,628  (12) 32  —  38,992  
Residential real estate7,667  5,787  97  6,834  (131) 218  (19) 20,453  
Commercial and financial9,716  3,677  11  4,063  (2,866) 913  —  15,514  
Consumer2,705  862  13  906  (1,087) 170  (1) 3,568  
Paycheck Protection Program—  —  —  —  —  —  —  —  
Totals$35,154  $21,226  $516  $37,124  $(4,141) $1,417  $(46) $91,250  
Six Months Ended June 30, 2019
(In thousands)Beginning BalanceProvision for Loan LossesCharge- OffsRecoveriesTDR Allowance AdjustmentsEnding Balance
Construction and land development$2,233  $4  $—  $7  $(1) $2,243  
Commercial real estate11,112  192  (16) 612  (30) 11,870  
Residential real estate7,775  (363) (65) 190  (29) 7,508  
Commercial and financial8,585  2,967  (2,825) 185  —  8,912  
Consumer2,718  1,148  (1,217) 325  (2) 2,972  
Totals$32,423  $3,948  $(4,123) $1,319  $(62) $33,505  

Management establishes the allowance using relevant available information from both internal and external sources, relating to past events, current conditions, and reasonable and supportable forecasts to project losses over a three-year forecast period. Forecast data is sourced primarily from Moody’s Analytics, a firm widely recognized for its research, analysis, and economic forecasts. For portfolio segments with a weighted average life longer than three years, the Company reverts to longer-term historical loss experience to estimate losses over the remaining life of the loans within each segment.

Historical credit losses provide the basis for the estimation of expected credit losses. Adjustments to historical loss information are made for differences in current loan-specific risk characteristics such as differences in underwriting standards, portfolio mix, delinquency level, loan to value ratios, borrower credit characteristics, loan seasoning or term as well as for changes in current and forecasted environmental conditions, such as changes in unemployment rates, property values, occupancy rates, and other macroeconomic metrics.

As of June 30, 2020, the Company utilized Moody’s most recent “U.S. Macroeconomic Outlook Baseline” scenario and considered the significant uncertainty associated with the assumptions in the Baseline scenario, including, the resurgence of virus infections in Florida and other states beginning late in the second quarter, and the resulting potential for renewed stay-at-home orders and other limitations on businesses. The Company also considered the amount and availability of fiscal stimulus, including programs offered under the CARES Act and other potential future government programs and actions. Outcomes in any or all of these factors could differ from the Baseline scenario, and the Company incorporated qualitative considerations reflecting the risk of uncertain, and possibly further deteriorating, economic conditions, and for additional dimensions of risk not captured in the quantitative model.

In the Construction and Land Development segment, the increase in loss estimate during the quarter was affected by both the increase in Baseline scenario forecast from the prior period and qualitative adjustments relating to the uncertainty of economic conditions. In this segment, the primary source of repayment is typically from proceeds of the sale, refinancing, or permanent financing of the underlying property; therefore, industry and collateral type and estimated collateral values are among the relevant factors in assessing expected losses.

In the Commercial Real Estate - Owner-Occupied segment, risk characteristics include but are not limited to, collateral type, loan seasoning, and lien position. The introduction of government-sponsored programs, including the CARES Act, and the Company's expectation that borrowers in this segment will benefit from these programs, offset the otherwise detrimental effect of the negative economic outlook.
In the Commercial Real Estate - Non Owner-Occupied segment, repayment is often dependent upon rental income from the successful operation of the underlying property. Loan performance may be adversely affected by general economic conditions or conditions specific to the real estate market, including property types. Collateral type, loan seasoning, and lien position are among the risk characteristics analyzed for this segment. Modeled results as of June 30, 2020 reflected higher estimated probabilities of default and loss given default, in addition to qualitative adjustments for the uncertainty of macroeconomic factors.

The Residential Real Estate segment includes first mortgages secured by residential property, and home equity lines of credit. Risk characteristics considered for this segment include, but are not limited to, collateral type, lien position loan to value ratios, and loan seasoning. The impact of the forecast on home equity lines of credit increased the estimated expected losses in this segment, while closed-end single-family mortgages were less impacted due to anticipated government stimulus efforts and high borrower FICO scores.

In the Commercial and Financial segment, borrowers are primarily small to medium sized professional firms and other businesses, and loans are generally supported by projected cash flows of the business, collateralized by business assets, and/or
guaranteed by the business owners. Industry, collateral type, estimated collateral values and loan seasoning are among the relevant factors in assessing expected losses. The impact on the reserve of lower outstanding balances at June 30, 2020 compared to March 31, 2020 was more than offset by increases due to the negative economic outlook, in addition to qualitative factors added to consider significant economic uncertainty.

Consumer loans include installment and revolving lines, loans for automobiles, boats, and other personal or family purposes. Risk characteristics considered for this segment include, but are not limited to, collateral type, loan to value ratios, loan seasoning and FICO score. A decrease in the reserve resulted from the expected beneficial impact of individual government stimulus programs, partially offset by an increase in the forecast for expected unemployment rates.

Balances outstanding under the Paycheck Protection Program are guaranteed by the U.S. government and have not been assigned a reserve.

The allowance for credit losses is composed of specific allowances for loans individually evaluated and general allowances for loans grouped into loan pools based on similar characteristics, which are collectively evaluated. The Company’s loan portfolio and related allowance at June 30, 2020 and December 31, 2019 is shown in the following tables:
 
 June 30, 2020
 Individually Evaluated Collectively EvaluatedTotal
(In thousands)Recorded
Investment		Associated
Allowance		Recorded
Investment		Associated
Allowance		Recorded
Investment		Associated
Allowance
Construction and land development$726  $20  $298,109  $7,141  $298,835  $7,161  
Commercial real estate - owner-occupied4,491  160  1,072,159  5,402  1,076,650  5,562  
Commercial real estate - non owner-occupied7,883  254  1,384,904  38,738  1,392,787  38,992  
Residential real estate18,216  1,071  1,449,955  19,382  1,468,171  20,453  
Commercial and financial9,822  3,628  747,410  11,886  757,232  15,514  
Consumer681  107  201,246  3,461  201,927  3,568  
Paycheck Protection Program—  —  576,450  —  576,450  —  
Totals$41,819  $5,240  $5,730,233  $86,010  $5,772,052  $91,250  

 December 31, 2019
 Individually Evaluated Collectively Evaluated
 Total
(In thousands)Recorded
Investment		Associated
Allowance		Recorded
Investment		Associated
Allowance		Recorded
Investment		Associated
Allowance
Construction and land development$5,217  $14  $319,896  $1,828  $325,113  $1,842  
Commercial real estate20,484  220  2,358,487  13,004  2,378,971  13,224  
Residential real estate16,093  834  1,491,770  6,833  1,507,863  7,667  
Commercial and financial6,631  1,731  771,621  7,985  778,252  9,716  
Consumer337  59  207,868  2,646  208,205  2,705  
Totals$48,762  $2,858  $5,149,642  $32,296  $5,198,404  $35,154  
v3.20.2
Securities Sold Under Agreements to Repurchase
 6 Months Ended
Jun. 30, 2020
Brokers and Dealers [Abstract]  
Securities Sold Under Agreements to Repurchase Securities Sold Under Agreements to Repurchase
Securities sold under agreements to repurchase are accounted for as secured borrowings. For securities sold under agreements to repurchase, the Company is required to pledge collateral with value sufficient to fully collateralized borrowings. Company securities pledged were as follows by collateral type and maturity as of: 
(In thousands)June 30, 2020December 31, 2019
Fair value of pledged securities - overnight and continuous:
Mortgage-backed securities and collateralized mortgage obligations of U.S. government sponsored entities$97,344  $94,354  
v3.20.2
Noninterest Income and Expense
 6 Months Ended
Jun. 30, 2020
Brokers and Dealers [Abstract]  
Noninterest Income and Expense Noninterest Income and Expense
 
Details of noninterest income and expenses for the three and six months ended June 30, 2020 and 2019 are as follows:
 
 Three Months Ended June 30,Six Months Ended June 30,
(In thousands)2020201920202019
Noninterest income  
Service charges on deposit accounts$1,939  $2,894  $4,764  $5,591  
Interchange income3,187  3,405  6,433  6,806  
Wealth management income1,719  1,688  3,586  3,141  
Mortgage banking fees3,559  1,734  5,767  2,849  
Marine finance fees157  201  303  563  
SBA gains181  691  320  1,327  
BOLI income887  927  1,773  1,842  
Other income2,147  2,503  5,499  4,769  
 13,776  14,043  28,445  26,888  
 Securities gains (losses), net1,230  (466) 1,249  (475) 
 Total$15,006  $13,577  $29,694  $26,413  
Noninterest expense
Salaries and wages$20,226  $19,420  $43,924  $37,926  
Employee benefits3,379  3,195  7,634  7,401  
Outsourced data processing costs4,059  3,876  8,692  7,721  
Telephone/data lines791  893  1,505  1,704  
Occupancy3,385  3,741  6,738  7,548  
Furniture and equipment1,358  1,544  2,981  3,301  
Marketing997  1,211  2,275  2,343  
Legal and professional fees2,277  2,033  5,640  4,880  
FDIC assessments266  337  266  825  
Amortization of intangibles1,483  1,456  2,939  2,914  
Foreclosed property expense and net loss (gain) on sale245  (174) (70) (214) 
Other3,933  3,468  7,673  7,750  
 Total$42,399  $41,000  $90,197  $84,099  
v3.20.2
Equity Capital
 6 Months Ended
Jun. 30, 2020
Equity [Abstract]  
Equity Capital Equity CapitalThe Company is well capitalized and at June 30, 2020, the Company and the Company’s principal banking subsidiary, Seacoast Bank, exceeded the common equity Tier 1 (CET1) capital ratio regulatory threshold of 6.5% for well-capitalized institutions under the Basel III standardized transition approach, as well as risk-based and leverage ratio requirements for well capitalized banks under the regulatory framework for prompt corrective action.
v3.20.2
Contingent Liabilities
 6 Months Ended
Jun. 30, 2020
Commitments and Contingencies Disclosure [Abstract]  
Contingent Liabilities Contingent LiabilitiesThe Company and its subsidiaries, because of the nature of their business, are at all times subject to numerous legal actions, threatened or filed. Management presently believes that none of the legal proceedings to which it is a party are likely to have a materially adverse effect on the Company’s consolidated financial condition, operating results or cash flows.
v3.20.2
Fair Value
 6 Months Ended
Jun. 30, 2020
Fair Value Disclosures [Abstract]  
Fair Value Fair Value
Under ASC Topic 820, fair value measurements for items measured at fair value on a recurring and nonrecurring basis at June 30, 2020 and December 31, 2019 included:
(In thousands)Fair Value
Measurements		Quoted Prices
in Active
Markets for
Identical
Assets
(Level 1)		Significant
Other
Observable
Inputs
(Level 2)		Significant
Unobservable
Inputs
(Level 3)
June 30, 2020    
Available for sale debt securities1
$976,025  $102  $975,923  $—  
Loans held for sale2
54,943  —  54,943  —  
Loans3
7,974  —  1,448  6,526  
Other real estate owned4
15,847  —  2,368  13,479  
Equity securities5
6,548  6,548  —  —  
December 31, 2019
Available for sale debt securities1
$946,855  $100  $946,755  $—  
Loans held for sale2
20,029  —  20,029  —  
Loans3
5,123  —  1,419  3,704  
Other real estate owned4
12,390  —  241  12,149  
Equity securities5
6,392  6,392  —  —  
1See Note D for further detail of fair value of individual investment categories.
2Recurring fair value basis determined using observable market data.
3See Note E. Nonrecurring fair value adjustments to loans identified as impaired reflect full or partial write-downs that are based on the loan’s observable market price or current appraised value of the collateral in accordance with ASC Topic 310.
4Fair value is measured on a nonrecurring basis in accordance with ASC Topic 360.
5An investment in shares of a mutual fund that invests primarily in CRA-qualified debt securities, reported at fair value in Other Assets. Recurring fair value basis is determined using market quotations.
Available for sale debt securities: U.S. Treasury securities are reported at fair value utilizing Level 1 inputs. Other securities are reported at fair value utilizing Level 2 inputs. The estimated fair value of a security is determined based on market quotations when available or, if not available, by using quoted market prices for similar securities, pricing models or discounted cash flow analyses, using observable market data where available.
The Company reviews the prices supplied by independent pricing services, as well as their underlying pricing methodologies, for reasonableness and to ensure such prices are aligned with traditional pricing matrices. The fair value of collateralized loan obligations is determined from broker quotes. From time to time, the Company will validate, on a sample basis, prices supplied by the independent pricing service by comparison to prices obtained from other brokers and third-party sources or derived using internal models.
Loans held for sale: Fair values are based upon estimated values to be received from independent third party purchasers. These loans are intended for sale and the Company believes that the fair value is the best indicator of the resolution of these loans. Interest income is recorded based on the contractual terms of the loan and in accordance with the Company’s policy on loans held for investment. None of the loans were 90 days or more past due or on non accrual as of June 30, 2020 and December 31, 2019. The aggregate fair value and contractual balance of loans held for sale as of June 30, 2020 and December 31, 2019 is as follows:
(In thousands)June 30, 2020December 31, 2019
Aggregate fair value$54,943  $20,029  
Contractual balance53,556  19,445  
Excess1,387  584  
Loans: Level 2 loans consist of impaired real estate loans which are collateral dependent. Fair value is based on recent real estate appraisals less estimated costs of sale. For residential real estate impaired loans, appraised values or internal evaluations are based on the comparative sales approach. Level 3 loans consist of commercial and commercial real estate impaired loans. For these loans evaluations may use either a single valuation approach or a combination of approaches, such as comparative sales, cost and/or income approach. A significant unobservable input in the income approach is the estimated capitalization rate for a given piece of collateral. At June 30, 2020, the capitalization rates utilized to determine fair value of the underlying collateral averaged approximately 7.4%. Adjustments to comparable sales may be made by an appraiser to reflect local market conditions or other economic factors and may result in changes in the fair value of an asset over time. As such, the fair value of these impaired loans is considered level 3 in the fair value hierarchy. Impaired loans measured at fair value total $8.0 million with a specific reserve of $5.2 million at June 30, 2020, compared to $5.1 million with a specific reserve of $2.9 million at December 31, 2019.
For loans classified as level 3, changes included loan additions of $5.0 million offset by paydowns and charge-offs of $2.2 million for the six months ended June 30, 2020.
Other real estate owned: When appraisals are used to determine fair value and the appraisals are based on a market approach, the fair value of other real estate owned (“OREO”) is classified as a level 2 input. When the fair value of OREO is based on appraisals which require significant adjustments to market-based valuation inputs or apply an income approach based on unobservable cash flows, the fair value of OREO is classified as level 3.
For OREO classified as level 3 during the six months ended June 30, 2020, changes included additions of foreclosed loans of $5.1 million offset by sales of $3.8 million.
Transfers between levels of the fair value hierarchy are recognized on the actual date of the event or circumstances that caused the transfer, which generally coincides with the Company’s monthly and/or quarter-end valuation process. There were no such transfers for loans and OREO classified as level 3 during the six months ended June 30, 2020 and 2019.
The carrying amount and fair value of the Company’s other financial instruments that were not disclosed previously in the balance sheet and for which carrying amount is not fair value as of June 30, 2020 and December 31, 2019 is as follows:
(In thousands)Carrying AmountQuoted Prices in Active Markets for Identical Assets
(Level 1)		Significant Other Observable Inputs
(Level 2)		Significant Unobservable Inputs
(Level 3)
June 30, 2020    
Financial Assets    
Debt securities held-to-maturity1
$227,092  $—  $235,946  $—  
Time deposits with other banks2,496  —  —  2,530  
Loans, net5,672,828  —  —  5,770,882  
Financial Liabilities
Deposit liabilities6,666,783  —  —  6,673,509  
Federal Home Loan Bank (FHLB) borrowings135,000  —  —  134,782  
Subordinated debt71,225  —  64,143  —  
December 31, 2019
Financial Assets
Debt securities held-to-maturity1

$261,369  $—  $262,213  $—  
Time deposits with other banks3,742  —  —  3,744  
Loans, net5,158,127  —  —  5,139,491  
Financial Liabilities
Deposit liabilities5,584,753  —  —  5,584,621  
Federal Home Loan Bank (FHLB) borrowings315,000  —  —  314,995  
Subordinated debt71,085  —  64,017  —  
1See Note D for further detail of individual investment categories.
The short maturity of Seacoast’s assets and liabilities results in having a significant number of financial instruments whose fair value equals or closely approximates carrying value. Such financial instruments are reported in the following balance sheet captions: cash and due from banks, interest bearing deposits with other banks, and securities sold under agreements to repurchase, maturing within 30 days.
The following methods and assumptions were used to estimate the fair value of each class of financial instrument for which it is practicable to estimate that value at June 30, 2020 and December 31, 2019:
Held to maturity debt securities: These debt securities are reported at fair value utilizing level 2 inputs. The estimated fair value of a security is determined based on market quotations when available or, if not available, by using quoted market prices for similar securities, pricing models or discounted cash flow analyses, using observable market data where available.
The Company reviews the prices supplied by independent pricing services, as well as their underlying pricing methodologies, for reasonableness and to ensure such prices are aligned with traditional pricing matrices. From time to time, the Company will validate, on a sample basis, prices supplied by the independent pricing service by comparison to prices obtained from other brokers and third-party sources or derived using internal models.
Loans: Fair values are estimated for portfolios of loans with similar financial characteristics. Loans are segregated by type, such as commercial or mortgage. Each loan category is further segmented into fixed and adjustable-rate interest terms as well as performing and nonperforming categories. The fair value of loans is calculated by discounting scheduled cash flows through the estimated life including prepayment considerations, using estimated market discount rates that reflect the risks inherent in the loan. The fair value approach considers market-driven variables including credit related factors and reflects an “exit price” as defined in ASC Topic 820.
Deposit liabilities: The fair value of demand deposits, savings accounts and money market deposits is the amount payable at the reporting date. The fair value of fixed maturity certificates of deposit is estimated using the rates currently offered for funding of similar remaining maturities.
v3.20.2
Business Combinations
 6 Months Ended
Jun. 30, 2020
Business Combinations [Abstract]  
Business Combinations Business Combinations
Acquisition of First Bank of the Palm Beaches
On March 13, 2020, the Company completed its acquisition of First Bank of the Palm Beaches (“FBPB”). FBPB was merged with and into Seacoast Bank. FBPB operated two branches in the Palm Beach market.
As a result of this acquisition, the Company expects to enhance its presence in the Palm Beach market, expand its customer base and leverage operating cost through economies of scale, and positively affect the Company’s operating results.
The Company acquired 100% of the outstanding common stock of FBPB. Under the terms of the definitive agreement, each share of FBPB common stock was converted into the right to receive 0.2000 shares of Seacoast common stock.
(In thousands, except per share data)March 13, 2020
Number of FBPB common shares outstanding5,213  
Per share exchange ratio0.2000  
Number of shares of common stock issued1,043  
Multiplied by common stock price per share on March 13, 2020$20.17  
Value of common stock issued21,031  
Cash paid for FBPB vested stock options866  
Total purchase price$21,897  
The acquisition of FBPB was accounted for under the acquisition method in accordance with ASC Topic 805, Business Combinations. The Company recognized goodwill of $6.9 million for this acquisition that is nondeductible for tax purposes. Determining fair values of assets and liabilities, especially the loan portfolio, core deposit intangibles, and deferred taxes, is a complicated process involving significant judgment regarding methods and assumptions used to calculate estimated fair values. The fair values initially assigned to assets acquired and liabilities assumed are preliminary and could change for up to one year after the closing date of the acquisition as new information and circumstances relative to closing date fair values becomes known.
(In thousands)Initially Measured
March 13, 2020		Measurement Period AdjustmentsAs Adjusted March 13, 2020
Assets: 
Cash$34,749  $—  $34,749  
Investment securities447  —  447  
Loans146,839  (62) 146,777  
Bank premises and equipment6,086  —  6,086  
Core deposit intangibles819  —  819  
Goodwill6,799  62  6,861  
Other assets1,285  20  1,305  
 Total assets$197,024  $20  $197,044  
Liabilities:
Deposits$173,741  $—  $173,741  
Other liabilities1,386  20  1,406  
Total liabilities$175,127  $20  $175,147  
The table below presents information with respect to the fair value and unpaid principal balance of acquired loans at the acquisition date.
March 13, 2020
(In thousands)Book BalanceFair Value
Loans:  
Construction and land development$9,493  $9,012  
Commercial real estate - owner-occupied46,221  45,171  
Commercial real estate - non owner-occupied36,268  35,079  
Residential real estate 47,569  47,043  
Commercial and financial9,659  9,388  
Consumer1,132  1,084  
Total acquired loans$150,342  $146,777  
The table below presents the carrying amount of loans for which, at the date of acquisition, there was evidence of more than insignificant deterioration of credit quality since origination:
(In thousands)March 13, 2020
Book balance of loans at acquisition$43,682  
Allowance for credit losses at acquisition(516) 
Non-credit related discount(128) 
Total PCD loans acquired$43,038  
The Company believes the deposits assumed in the acquisition have an intangible value. In determining the valuation amount, deposits were analyzed based on factors such as type of deposit, deposit retention, interest rates and age of deposit relationships.
Pro-Forma Information
Pro-forma data for the three and six months ended June 30, 2020 presents information as if the acquisition of FBPB occurred at the beginning of 2019, as follows:
Three Months Ended June 30, 2020Six Months Ended June 30, 2020
(In thousands, except per share amounts)2020201920202019
Net interest income1
$67,272  $61,879  $131,887  $124,417  
Net income25,080  23,966  27,526  45,378  
EPS - basic$0.47  $0.46  $0.52  $0.87  
EPS - diluted0.47  0.45  0.52  0.86  
1The provision for credit losses of $1.8 million recorded under CECL at the time of acquisition has been excluded from the pro forma information above, which presents information as if the acquisition had occurred on January 1, 2019, prior to the Company's adoption of CECL.
Proposed Acquisition of Fourth Street Banking Company
On January 23, 2020, the Company announced that it had entered into an agreement and plan of merger with Fourth Street Banking Company ("Fourth Street") and its wholly-owned subsidiary, Freedom Bank. Pursuant to the terms of the merger agreement, Fourth Street, headquartered in St. Petersburg, FL, will be merged with and into Seacoast and Freedom Bank will be merged with and into Seacoast Bank. Freedom Bank operates two branches in the Tampa-St. Petersburg metropolitan statistical area with $359 million in deposits and $312 million in loans as of June 30, 2020. This acquisition is anticipated to close in August 2020, subject to the approval of Fourth Street shareholders and the satisfaction of other customary conditions.
v3.20.2
Basis of Presentation (Policies)
 6 Months Ended
Jun. 30, 2020
Accounting Policies [Abstract]  
Basis of Presentation Basis of Presentation: The accompanying unaudited condensed consolidated financial statements of Seacoast Banking Corporation of Florida and its subsidiaries (the "Company") have been prepared in accordance with U.S. generally accepted accounting principles ("U.S. GAAP") for interim financial information and with the instructions to Form 10-Q and Rule 10-01 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. Certain prior period amounts have been reclassified to conform to the current period presentation.Operating results for the six months ended June 30, 2020 are not necessarily indicative of the results that may be expected for the year ending December 31, 2020 or any other period. For further information, refer to the consolidated financial statements and footnotes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2019.
Use of Estimates Use of Estimates: The preparation of these condensed consolidated financial statements requires management to make judgments in the application of certain of its accounting policies that involve significant estimates and assumptions. The Company has established policies and control procedures that are intended to ensure valuation methods are well controlled and applied consistently from period to period. These estimates and assumptions, which may materially affect the reported amounts of certain assets, liabilities, revenues and expenses, are based on information available as of the date of the financial statements, and changes in this information over time and the use of revised estimates and assumptions could materially affect amounts reported in subsequent financial statements. Specific areas, among others, requiring the application of management’s estimates include determination of the allowance for credit losses, acquisition accounting and purchased loans, intangible assets and impairment testing, other fair value adjustments, income taxes and realization of deferred tax assets and contingent liabilities.
Adoption of New Accounting Pronouncements and Recently Issued Accounting Standards, Not Yet Adopted
Adoption of new accounting pronouncements:
On January 1, 2020, the Company adopted Financial Accounting Standards Board ("FASB") Accounting Standards Codification Topic 326 Financial Instruments - Credit Losses ("ASC Topic 326") which replaces the incurred loss methodology with an expected loss methodology that is referred to as the current expected credit loss ("CECL") methodology. The measurement of expected credit losses under the CECL methodology is applicable to financial assets measured at amortized cost, including loan receivables and held-to-maturity ("HTM") debt securities. It also applies to off-balance sheet credit exposure such as loan commitments, standby letters of credit, financial guarantees and other similar instruments. In addition, ASC Topic 326 changed the accounting for impairment of available-for-sale ("AFS") debt securities.
The Company adopted ASC Topic 326 using the modified retrospective method for all financial assets measured at amortized cost and off-balance sheet credit exposures. Results for the reporting period beginning after January 1, 2020 are presented under ASC Topic 326, while prior period amounts continue to be reported in accordance with previously applicable GAAP. The following table reflects the cumulative effect of adoption:
(in thousands)December 31, 2019CECL adoption impactJanuary 1, 2020
Loans$5,198,404  $(706) $5,197,698  
Allowance for credit losses35,154  21,226  56,380  
Reserve for unfunded commitments140  1,837  1,977  
Deferred tax assets16,457  (5,481) 10,976  
Retained earnings195,813  (16,876) 178,937  
ASC Topic 326 introduced new definitions and criteria for categorizing purchased loans. Loans that, as of the date of acquisition, have experienced a more-than-insignificant deterioration in credit quality since origination are classified as purchased credit deteriorated ("PCD"). Acquired loans which do not meet the definition of PCD are classified by the Company as acquired Non-PCD. At the date of adoption, the Company reclassified all loans previously classified as purchased credit impaired ("PCI") to PCD, and increased the allowance by $0.7 million with a corresponding adjustment to these loans' amortized cost basis. The remaining noncredit discount on loans previously classified as PCI was $0.9 million, which will be accreted into interest income over the remaining life of the loans.
Under CECL, the Company estimates the allowance using relevant available information, from both internal and external sources, relating to past events, current conditions, and reasonable and supportable forecasts. Historical credit losses provide the basis for the estimation of expected credit losses. Adjustments to historical loss information are made for differences in current loan-specific risk characteristics such as differences in underwriting standards, portfolio mix, delinquency level, loan to value ratios, borrower credit characteristics, loan seasoning or term as well as for changes in environmental conditions, such as changes in unemployment rates, property values, occupancy rates, and other macroeconomic metrics.
For loans analyzed on a collective basis, the Company has developed an allowance model based on an analysis of the probability of default ("PD") and loss given default ("LGD") to determine an expected loss by loan segment. PDs and LGDs are developed by analyzing the average historical loss migration of loans to default. The Company excludes accrued interest on loans from its determination of allowance.
The allowance estimation process also applies an economic forecast scenario over a three year forecast period. The forecast may utilize one scenario or a composite of scenarios based on management's judgment and expectations around the current and future macroeconomic outlook. Expected credit losses are estimated over the contractual term of the loans, adjusted for expected prepayments when appropriate. The contractual term excludes expected extensions, renewals, and modification unless either of the following applies: management has a reasonable expectation at the reporting date that a troubled debt restructuring ("TDR") will be executed with an individual borrower, or the extension or renewal options are explicitly stated in the contract and are not unconditionally under the control of the Company. For portfolio segments with a weighted average life longer than three years, the Company reverts to longer-term historical loss experience, adjusted for prepayments, to estimate losses over the remaining life of the loans within each segment.
Adjustments may be made to baseline reserves based on an assessment of internal and external influences on credit quality not fully reflected in the quantitative components of the allowance model. These influences may include elements such as changes in concentration, macroeconomic conditions, recent observable asset quality trends, staff turnover, regional market conditions, employment levels and loan growth. Based on management's assessments of these factors, the Company may apply qualitative adjustments to the allowance.
Loans that do not share risk characteristics are evaluated on an individual basis. Loans evaluated individually are not also included in the collective evaluation. Loans evaluated individually are collateral dependent and primarily secured by real estate. When management determines that foreclosure is probable, expected credit losses are based on the fair value of the collateral at the reporting date, adjusted for selling costs as appropriate.
In response to the COVID-19 pandemic beginning in early 2020, rules defined in the Coronavirus Aid, Relief and Economic Security ("CARES") Act and a joint statement issued by federal regulators in consultation with FASB provide financial institutions with the option not to apply troubled debt restructure ("TDR") accounting to eligible loan modifications provided to borrowers affected by COVID-19 pandemic. See Note E - Loans for information on loan modifications offered by the Company under this guidance. Outside of this guidance, a loan for which the terms have been modified resulting in a concession, and for which the borrower is experiencing financial difficulty, is considered to be a TDR. The allowance for credit losses on a TDR is measured using the same method as all other loans held for investment, except when the value of a concession cannot be measured using a method other than the discounted cash flow method. When the value of a concession is measured using the discounted cash flow method, the allowance for credit losses is determined by discounting the expected future cash flows at the original interest rate of the loan.
The Company estimates a reserve for unfunded commitments, which is reported separately from the allowance for credit losses within other liabilities. The reserve is based upon the same quantitative and qualitative factors applied to the collectively evaluated loan portfolio.
All HTM debt securities are issued by government-sponsored entities, which are either explicitly or implicitly guaranteed by the U.S. government and have a long history of no credit losses. In addition, the credit rating on all the Company's HTM debt securities as of the date of adoption is AA+. There is no history of the government withholding or limiting support to these agencies, nor is there any indication of a change to that historical support. While the potential for default on these securities may be something greater than zero, the long history with no credit losses, the implied government guarantee of principal and interest payments and the high credit rating of the HTM portfolio provide sufficient basis for the current expectation that there is zero risk of loss if default were to occur. As a result, the Company recorded no allowance for HTM debt securities with fair value less than amortized cost basis at the date of adoption.
ASC Topic 326 amended the existing other-than-temporary-impairment guidance for AFS securities, requiring credit losses to be recorded as an allowance rather than through a permanent write-down. When evaluating AFS debt securities under ASC Topic 326, the Company has evaluated whether the decline in fair value is attributed to credit losses or other factors using both
quantitative and qualitative analyses, including cash flow analysis, review of credit ratings, remaining payment terms, prepayment speeds and analysis of macro-economic conditions. At the date of adoption, collateralized loan obligations had unrealized losses of $1.2 million. The collateral for these securities is first lien senior secured corporate debt, and the Company holds senior tranches rated A or higher. Based on this analysis, the Company believes that the unrealized loss position for AFS debt securities at the time of adoption was the result of both broad investment type spreads and the current rate environment. Each investment is expected to recover its price depreciation over its holding period as it moves to maturity and the Company has the intent and ability to hold these securities to maturity if necessary. As a result of this evaluation, the Company concluded that no allowance was appropriate.
In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform (Topic 848). The guidance provides accounting relief to contract modifications that replace an interest rate impacted by reference rate reform (e.g. London Inter-Bank Offered Rate ("LIBOR")) with a new alternative reference rate. The guidance is applicable to investment securities, receivables, loans, debt, leases, derivatives and hedge accounting elections, and other contractual arrangements. The Company applied the guidance prospectively beginning April 1, 2020, with no material impact on the financial position, results of operations or cash flows.
Fair Value Measurement
Held to maturity debt securities: These debt securities are reported at fair value utilizing level 2 inputs. The estimated fair value of a security is determined based on market quotations when available or, if not available, by using quoted market prices for similar securities, pricing models or discounted cash flow analyses, using observable market data where available.
The Company reviews the prices supplied by independent pricing services, as well as their underlying pricing methodologies, for reasonableness and to ensure such prices are aligned with traditional pricing matrices. From time to time, the Company will validate, on a sample basis, prices supplied by the independent pricing service by comparison to prices obtained from other brokers and third-party sources or derived using internal models.
Loans: Fair values are estimated for portfolios of loans with similar financial characteristics. Loans are segregated by type, such as commercial or mortgage. Each loan category is further segmented into fixed and adjustable-rate interest terms as well as performing and nonperforming categories. The fair value of loans is calculated by discounting scheduled cash flows through the estimated life including prepayment considerations, using estimated market discount rates that reflect the risks inherent in the loan. The fair value approach considers market-driven variables including credit related factors and reflects an “exit price” as defined in ASC Topic 820.
Deposit liabilities: The fair value of demand deposits, savings accounts and money market deposits is the amount payable at the reporting date. The fair value of fixed maturity certificates of deposit is estimated using the rates currently offered for funding of similar remaining maturities.
v3.20.2
Basis of Presentation (Tables)
 6 Months Ended
Jun. 30, 2020
Accounting Policies [Abstract]  
Schedule of Cumulative Effect Adjustment The following table reflects the cumulative effect of adoption:
(in thousands)December 31, 2019CECL adoption impactJanuary 1, 2020
Loans$5,198,404  $(706) $5,197,698  
Allowance for credit losses35,154  21,226  56,380  
Reserve for unfunded commitments140  1,837  1,977  
Deferred tax assets16,457  (5,481) 10,976  
Retained earnings195,813  (16,876) 178,937  
v3.20.2
Earnings per Share (Tables)
 6 Months Ended
Jun. 30, 2020
Earnings Per Share [Abstract]  
Schedule of Earnings Per Share, Basic and Diluted
Three Months Ended June 30,Six Months Ended June 30,
(Dollars in thousands, except per share data)2020201920202019
Basic earnings per share  
Net income$25,080  $23,253  $25,789  $45,958  
Average common shares outstanding52,985  51,446  52,394  51,403  
Net income per share$0.47  $0.45  $0.49  $0.89  
Diluted earnings per share
Net income$25,080  $23,253  $25,789  $45,958  
Average common shares outstanding52,985  51,446  52,394  51,403  
Add: Dilutive effect of employee restricted stock and stock options323  506  413  595  
Average diluted shares outstanding53,308  51,952  52,807  51,998  
Net income per share$0.47  $0.45  $0.49  $0.88  
v3.20.2
Securities (Tables)
 6 Months Ended
Jun. 30, 2020
Investments, Debt and Equity Securities [Abstract]  
Summary of Amortized Cost and Fair Value of Securities Available for Sale
The amortized cost, gross unrealized gains and losses and fair value of securities available-for-sale and held-to-maturity at June 30, 2020 and December 31, 2019 are summarized as follows:
 June 30, 2020
(In thousands)Amortized
Cost		Gross
Unrealized
Gains		Gross Unrealized
Losses		Fair
Value
Debt securities available-for-sale    
U.S. Treasury securities and obligations of U.S. government agencies$8,981  $418  $(1) $9,398  
Mortgage-backed securities and collateralized mortgage obligations of U.S. government-sponsored entities636,528  24,747  (90) 661,185  
Private mortgage-backed securities and collateralized mortgage obligations75,756  1,645  (550) 76,851  
Collateralized loan obligations204,258  3  (5,444) 198,817  
Obligations of state and political subdivisions27,819  1,958  (3) 29,774  
Totals$953,342  $28,771  $(6,088) $976,025  
Debt securities held-to-maturity
Mortgage-backed securities of U.S. government-sponsored entities$227,092  $8,860  $(6) $235,946  
Totals$227,092  $8,860  $(6) $235,946  
 December 31, 2019
(In thousands)Amortized
Cost		Gross Unrealized
Gains		Gross Unrealized
Losses		Fair
Value
Debt securities available-for-sale    
U.S. Treasury securities and obligations of U.S. government agencies$9,914  $204  $(4) $10,114  
Mortgage-backed securities and collateralized mortgage obligations of U.S. government-sponsored entities604,934  5,784  (1,511) 609,207  
Private mortgage-backed securities and collateralized mortgage obligations56,005  1,561  (5) 57,561  
Collateralized loan obligations239,364  7  (1,153) 238,218  
Obligations of state and political subdivisions30,548  1,208  (1) 31,755  
Totals$940,765  $8,764  $(2,674) $946,855  
Debt securities held-to-maturity
Mortgage-backed securities of U.S. government-sponsored entities261,369  2,717  (1,873) 262,213  
Totals$261,369  $2,717  $(1,873) $262,213  
Summary of Amortized Cost and Fair Value of Held-to-Maturity Securities
The amortized cost, gross unrealized gains and losses and fair value of securities available-for-sale and held-to-maturity at June 30, 2020 and December 31, 2019 are summarized as follows:
 June 30, 2020
(In thousands)Amortized
Cost		Gross
Unrealized
Gains		Gross Unrealized
Losses		Fair
Value
Debt securities available-for-sale    
U.S. Treasury securities and obligations of U.S. government agencies$8,981  $418  $(1) $9,398  
Mortgage-backed securities and collateralized mortgage obligations of U.S. government-sponsored entities636,528  24,747  (90) 661,185  
Private mortgage-backed securities and collateralized mortgage obligations75,756  1,645  (550) 76,851  
Collateralized loan obligations204,258  3  (5,444) 198,817  
Obligations of state and political subdivisions27,819  1,958  (3) 29,774  
Totals$953,342  $28,771  $(6,088) $976,025  
Debt securities held-to-maturity
Mortgage-backed securities of U.S. government-sponsored entities$227,092  $8,860  $(6) $235,946  
Totals$227,092  $8,860  $(6) $235,946  
 December 31, 2019
(In thousands)Amortized
Cost		Gross Unrealized
Gains		Gross Unrealized
Losses		Fair
Value
Debt securities available-for-sale    
U.S. Treasury securities and obligations of U.S. government agencies$9,914  $204  $(4) $10,114  
Mortgage-backed securities and collateralized mortgage obligations of U.S. government-sponsored entities604,934  5,784  (1,511) 609,207  
Private mortgage-backed securities and collateralized mortgage obligations56,005  1,561  (5) 57,561  
Collateralized loan obligations239,364  7  (1,153) 238,218  
Obligations of state and political subdivisions30,548  1,208  (1) 31,755  
Totals$940,765  $8,764  $(2,674) $946,855  
Debt securities held-to-maturity
Mortgage-backed securities of U.S. government-sponsored entities261,369  2,717  (1,873) 262,213  
Totals$261,369  $2,717  $(1,873) $262,213  
Summary of Investments Classified by Contractual Maturity Securities not due at a single maturity date are shown separately.
 Held to MaturityAvailable-for-Sale
(In thousands)Amortized
Cost		Fair
Value		Amortized
Cost		Fair
Value
Due in less than one year$—  $—  $2,100  $2,125  
Due after one year through five years—  —  8,655  9,063  
Due after five years through ten years—  —  8,577  9,200  
Due after ten years—  —  17,468  18,784  
 —  —  36,800  39,172  
Mortgage-backed securities and collateralized mortgage obligations of U.S. government-sponsored entities227,092  235,946  636,528  661,185  
Private mortgage-backed securities and collateralized mortgage obligations—  —  75,756  76,851  
Collateralized loan obligations—  —  204,258  198,817  
Totals$227,092  $235,946  $953,342  $976,025  
Schedule of Debt Securities in Unrealized Loss Position The tables below indicate, at June 30, 2020, the fair value of available-for-sale debt securities with unrealized losses for which no allowance for credit losses has been recorded, and at December 31, 2019, the fair value of available-for-sale and held-to-maturity debt securities with unrealized losses for which no allowance has been recorded.
 June 30, 2020
 Less Than 12 Months12 Months or LongerTotal
(In thousands)Fair
Value		Unrealized
Losses		Fair
Value		Unrealized
Losses		Fair
Value		Unrealized
Losses
U.S. Treasury securities and obligations of U.S. government agencies$269  (1) $—  $—  $269  $(1) 
Mortgage-backed securities and collateralized mortgage obligations of U.S. government-sponsored entities65,273  (74) 357  (16) 65,630  (90) 
Private mortgage-backed securities and collateralized mortgage obligations24,532  (550) —  —  24,532  (550) 
Collateralized loan obligations84,299  (1,638) 108,609  (3,806) 192,908  (5,444) 
Obligations of state and political subdivisions512  (3) —  —  512  (3) 
Totals$174,885  $(2,266) $108,966  $(3,822) $283,851  $(6,088) 
 December 31, 2019
 Less Than 12 Months12 Months or LongerTotal
(In thousands)Fair
Value		Unrealized
Losses		Fair
Value		Unrealized
Losses		Fair
Value		Unrealized
Losses
U.S. Treasury securities and obligations of U.S. government agencies$758  $(4) $—  $—  $758  $(4) 
Mortgage-backed securities and collateralized mortgage obligations of U.S. government-sponsored entities220,057  (1,461) 104,184  (1,923) 324,241  (3,384) 
Private mortgage-backed securities and collateralized mortgage obligations2,978  (5) —  —  2,978  (5) 
Collateralized loan obligations88,680  (570) 110,767  (583) 199,447  (1,153) 
Obligations of state and political subdivisions515  (1) —  —  515  (1) 
Totals$312,988  $(2,041) $214,951  $(2,506) $527,939  $(4,547) 
v3.20.2
Loans (Tables)
 6 Months Ended
Jun. 30, 2020
Receivables [Abstract]  
Schedule of Portfolio Loans, Purchased Credit Impaired Loans and Purchased Unimpaired Loans
The following tables present net loan balances by segment as of:
 June 30, 2020
(In thousands)Portfolio LoansAcquired Non-PCD LoansPCD LoansTotal
Construction and land development$270,715  $25,691  $2,429  $298,835  
Commercial real estate - owner-occupied832,943  216,598  27,109  1,076,650  
Commercial real estate - non owner-occupied1,074,063  306,880  11,844  1,392,787  
Residential real estate1,249,368  210,247  8,556  1,468,171  
Commercial and financial692,933  63,272  1,027  757,232  
Consumer195,863  5,700  364  201,927  
Paycheck Protection Program576,450  —  —  576,450  
Totals$4,892,335  $828,388  $51,329  $5,772,052  
 December 31, 2019
(In thousands)Portfolio LoansPULsPCI LoansTotal
Construction and land development$281,335  $43,618  $160  $325,113  
Commercial real estate1
1,834,811  533,943  10,217  2,378,971  
Residential real estate1,304,305  201,848  1,710  1,507,863  
Commercial and financial697,301  80,372  579  778,252  
Consumer200,166  8,039  —  208,205  
Totals$4,317,918  $867,820  $12,666  $5,198,404  
1Commercial real estate includes owner-occupied balances of $1.0 billion for December 31, 2019.
Schedule of Loans Modified
The following table presents loans on payment deferral, excluding PPP loans, as of June 30, 2020:
(In thousands)Loans Outstanding% on Payment Deferral
Construction and land development$14,488  5%
Commercial real estate - owner-occupied320,406  30%
Commercial real estate - non owner-occupied445,311  32%
Residential real estate148,035  10%
Commercial and financial130,877  17%
Consumer17,926  9%
Totals$1,077,043  21%
Schedule of Past Due Financing Receivables
The following tables present the status of net loan balances as of June 30, 2020 and December 31, 2019. Loans on short-term payment deferral at the reporting date are reflected as current.
 June 30, 2020
(In thousands)CurrentAccruing
30-59 Days
Past Due		Accruing
60-89 Days
Past Due		Accruing
Greater
Than
90 Days		NonaccrualTotal
Portfolio Loans      
Construction and land development$270,070  $—  $623  $—  $22  $270,715  
Commercial real estate - owner-occupied829,903  —  —  615  2,425  832,943  
Commercial real estate - non owner-occupied1,069,979  1,988  —  —  2,096  1,074,063  
Residential real estate1,230,480  3,729  4,833  —  10,326  1,249,368  
Commercial and financial683,667  2,034  39  216  6,977  692,933  
Consumer195,246  169  46  —  402  195,863  
Paycheck Protection Program
576,450  —  —  —  —  576,450  
Total Portfolio Loans4,855,795  7,920  5,541  831  22,248  4,892,335  
Acquired Non-PCD Loans
Construction and land development25,117  —  —  —  574  25,691  
Commercial real estate - owner-occupied213,731  1,526  —  —  1,341  216,598  
Commercial real estate - non owner-occupied306,612  —  —  268  —  306,880  
Residential real estate208,963  —  —  —  1,284  210,247  
Commercial and financial60,941  —  —  —  2,331  63,272  
Consumer5,677  23  —  —  —  5,700  
 Total Acquired Non-PCD Loans821,041  1,549  —  268  5,530  828,388  
PCD Loans
Construction and land development2,419  —  —  —  10  2,429  
Commercial real estate - owner-occupied27,109  —  —  —  —  27,109  
Commercial real estate - non owner-occupied10,808  —  —  —  1,036  11,844  
Residential real estate7,379  —  —  —  1,177  8,556  
Commercial and financial977  —  —  —  50  1,027  
Consumer277  87  —  —  —  364  
Total PCD Loans48,969  87  —  —  2,273  51,329  
Total Loans$5,725,805  $9,556  $5,541  $1,099  $30,051  $5,772,052  
 
 December 31, 2019
(In thousands)CurrentAccruing
30-59 Days
Past Due		Accruing
60-89 Days
Past Due		Accruing
Greater
Than
90 Days		NonaccrualTotal
Portfolio Loans      
Construction and land development$276,984  $—  $—  $—  $4,351  $281,335  
Commercial real estate1,828,629  1,606  220  —  4,356  1,834,811  
Residential real estate1,294,778  1,564  18  —  7,945  1,304,305  
Commercial and financial690,412  2,553  —  108  4,228  697,301  
Consumer199,424  317  315  —  110  200,166  
 Total Portfolio Loans4,290,227  6,040  553  108  20,990  4,317,918  
Purchased Unimpaired Loans
Construction and land development43,044  —  —  —  574  43,618  
Commercial real estate531,325  942  431  —  1,245  533,943  
Residential real estate201,159  277  —  —  412  201,848  
Commercial and financial78,705  —  —  —  1,667  80,372  
Consumer8,039  —  —  —  —  8,039  
 Total PULs862,272  1,219  431  —  3,898  867,820  
Purchased Credit Impaired Loans
Construction and land development148  —  —  —  12  160  
Commercial real estate9,298  —  —  —  919  10,217  
Residential real estate587  —  —  —  1,123  1,710  
Commercial and financial566  —  —  —  13  579  
Consumer—  —  —  —  —  —  
 Total PCI Loans10,599  —  —  —  2,067  12,666  
Total Loans$5,163,098  $7,259  $984  $108  $26,955  $5,198,404  
Schedule of Nonaccrual Loans by Loan Category The following tables present net balances of loans on nonaccrual status and the related allowance for credit losses, if any, as of:
June 30, 2020
(In thousands)Nonaccrual Loans With No Related AllowanceNonaccrual Loans With an AllowanceTotal Nonaccrual LoansAllowance for Credit Losses
Construction and land development$585  $21  $606  $11  
Commercial real estate - owner-occupied3,445  321  3,766  160  
Commercial real estate - non owner-occupied2,096  1,036  3,132  204  
Residential real estate11,871  916  12,787  793  
Commercial and financial4,808  4,550  9,358  3,409  
Consumer32  370  402  86  
Totals $22,837  $7,214  $30,051  $4,663  
December 31, 2019
(In thousands)Nonaccrual Loans With No Related AllowanceNonaccrual Loans With an AllowanceTotal Nonaccrual LoansAllowance for Credit Losses
Construction and land development$4,913  $23  $4,936  $12  
Commercial real estate6,200  320  6,520  149  
Residential real estate8,700  780  9,480  564  
Commercial and financial3,449  2,460  5,909  1,622  
Consumer39  71  110  37  
Totals$23,301  $3,654  $26,955  $2,384  
Schedule of Collateral Dependent Loans The following table presents collateral dependent loans as of:
(In thousands)June 30, 2020December 31, 2019
Construction and land development$634  $4,926  
Commercial real estate - owner-occupied6,173  2,571  
Commercial real estate - non owner-occupied3,574  3,152  
Residential real estate 14,117  11,550  
Commercial and financial5,526  4,338  
Consumer410  141  
Totals $30,434  $26,678  
Schedule of Risk Categories of Loans by Class of Loans
The following tables present the risk rating of loans by year of origination:
June 30, 2020
(In thousands)20202019201820172016PriorRevolvingTotal
Construction and Land Development
Risk Ratings:
Pass$29,412  $95,549  $70,528  $35,134  $10,478  $18,260  $33,439  $292,800  
Special Mention198  503  1,378  38  —  2,147  —  4,264  
Substandard—  —  —  —  —  58  988  1,046  
Substandard Impaired —  —  —  —  574  151  —  725  
Doubtful—  —  —  —  —  —  —  —  
Total29,610  96,052  71,906  35,172  11,052  20,616  34,427  298,835  
Commercial real estate - owner-occupied
Risk Ratings:
Pass74,304  185,717  157,946  139,936  158,728  317,778  15,952  1,050,361  
Special Mention199  1,616  —  1,016  4,471  4,088  —  11,390  
Substandard—  —  570  3,782  1,066  5,100  —  10,518  
Substandard Impaired —  —  —  426  —  3,634  —  4,060  
Doubtful1
—  —  —  —  321  —  —  321  
Total74,503  187,333  158,516  145,160  164,586  330,600  15,952  1,076,650  
Commercial real estate - non owner-occupied
Risk Ratings:
Pass80,710  321,844  230,276  130,437  196,698  390,280  6,150  1,356,395  
Special Mention—  105  —  1,376  7,876  1,117  —  10,474  
Substandard—  —  5,705  —  8,326  6,367  1,350  21,748  
Substandard Impaired —  —  —  —  126  4,044  —  4,170  
Doubtful—  —  —  —  —  —  —  —  
Total80,710  321,949  235,981  131,813  213,026  401,808  7,500  1,392,787  
Residential real estate
Risk Ratings:
Pass32,562  160,057  261,757  273,829  196,662  202,708  312,596  1,440,171  
Special Mention—  190  277  721  3,387  621  68  5,264  
Substandard—  —  1,334  —  —  1,607  1,580  4,521  
Substandard Impaired 84  693  —  3,613  —  10,495  3,330  18,215  
Doubtful—  —  —  —  —  —  —  —  
Total32,646  160,940  263,368  278,163  200,049  215,431  317,574  1,468,171  
Commercial and financial
Risk Ratings:
Pass100,094  152,509  115,004  88,448  44,728  52,576  185,175  738,534  
Special Mention—  287  14  530  95  2,255  1,181  4,362  
Substandard—  148  337  259  425  1,698  2,099  4,966  
Substandard Impaired —  644  1,847  2,403  1,819  940  1,669  9,322  
Doubtful1
—  —  —  39  —  —  9  48  
Total100,094  153,588  117,202  91,679  47,067  57,469  190,133  757,232  
June 30, 2020
(In thousands)20202019201820172016PriorRevolvingTotal
Consumer
Risk Ratings:
Pass29,140  55,596  38,416  25,291  26,191  12,986  11,225  198,845  
Special Mention—  23  29  105  —  87  1,751  1,995  
Substandard—  —  —  19  8  39  340  406  
Substandard Impaired 41  52  48  —  316  224  —  681  
Doubtful—  —  —  —  —  —  —  —  
Total29,181  55,671  38,493  25,415  26,515  13,336  13,316  201,927  
Paycheck Protection Program
Risk Ratings:
Pass576,450  —  —  —  —  —  —  576,450  
Total576,450  —  —  —  —  —  —  576,450  
Consolidated
Risk Ratings:
Pass922,672  971,272  873,927  693,075  633,485  994,588  564,537  5,653,556  
Special Mention397  2,724  1,698  3,786  15,829  10,315  3,000  37,749  
Substandard—  148  7,946  4,060  9,825  14,869  6,357  43,205  
Substandard Impaired 125  1,389  1,895  6,442  2,835  19,488  4,999  37,173  
Doubtful1
—  —  —  39  321  —  9  369  
Total$923,194  $975,533  $885,466  $707,402  $662,295  $1,039,260  $578,902  $5,772,052  
1Loans classified as doubtful are fully reserved as of June 30, 2020.
The following table presents the risk rating of loans as of:
 December 31, 2019
(In thousands)PassSpecial
Mention		Substandard
Doubtful1
Total
Construction and land development$317,765  $2,235  $5,113  $—  $325,113  
Commercial real estate2,331,725  26,827  20,098  321  2,378,971  
Residential real estate1,482,278  7,364  18,221  —  1,507,863  
Commercial and financial755,957  11,925  9,496  874  778,252  
Consumer203,966  3,209  1,030  —  208,205  
 Totals$5,091,691  $51,560  $53,958  $1,195  $5,198,404  
1Loans classified as doubtful are fully reserved as of December 31, 2019.
Schedule of Troubled Debt Restructuring
The following table presents loans that were modified in a troubled debt restructuring during the three and six months ended:
Three Months Ended June 30,
20202019
(In thousands)Number of ContractsPre-Modification Outstanding Recorded InvestmentPost-Modification Outstanding Recorded InvestmentNumber of ContractsPre-Modification Outstanding Recorded InvestmentPost-Modification Outstanding Recorded Investment
Construction and land development1  $12  $12  —  $—  $—  
Commercial real estate - owner-occupied—  —  —  1  351  351  
Commercial real estate - non owner-occupied—  —  —  —  —  —  
Residential real estate—  —  —  —  —  —  
Commercial and financial—  —  —  —  —  —  
Consumer2  47  47  1  19  19  
Totals3  $59  $59  2  $370  $370  
Six Months Ended June 30,
20202019
(In thousands)Number of ContractsPre-Modification Outstanding Recorded InvestmentPost-Modification Outstanding Recorded InvestmentNumber of ContractsPre-Modification Outstanding Recorded InvestmentPost-Modification Outstanding Recorded Investment
Construction and land development1  $12  $12  —  $—  $—  
Commercial real estate - owner-occupied—  —  —  2  2,166  2,166  
Commercial real estate - non owner-occupied—  —  —  —  —  —  
Residential real estate 1  45  45  —  —  —  
Commercial and financial4  437  437  1  180  180  
Consumer2  47  47  1  19  19  
 Totals 8  $541  $541  4  $2,365  $2,365  
v3.20.2
Allowance for Credit Losses (Tables)
 6 Months Ended
Jun. 30, 2020
Receivables [Abstract]  
Schedule of Allowance for Loan Losses
Activity in the allowance for credit losses is summarized as follows:
 Three Months Ended June 30, 2020
(In thousands)Beginning
Balance		Provision
for Credit
Losses		Charge-
Offs		RecoveriesTDR
Allowance
Adjustments		Ending
Balance
Construction and land development$4,646  $2,478  $—  $37  $—  $7,161  
Commercial real estate - owner-occupied5,327  229  —  18  (12) 5,562  
Commercial real estate - non owner-occupied35,643  3,345  —  4  —  38,992  
Residential real estate19,899  574  (113) 101  (8) 20,453  
Commercial and financial15,470  1,319  (1,768) 493  —  15,514  
Consumer4,426  (334) (614) 91  (1) 3,568  
Paycheck Protection Program—  —  —  —  —  —  
Totals$85,411  $7,611  $(2,495) $744  $(21) $91,250  

 Three Months Ended June 30, 2019
(In thousands)Beginning
Balance		Provision
for Loan
Losses		Charge-
Offs		RecoveriesTDR
Allowance
Adjustments		Ending
Balance
Construction and land development$2,320  $(79) $(1) $3  $—  $2,243  
Commercial real estate11,753  (433) —  565  (15) 11,870  
Residential real estate7,445  51  (28) 51  (11) 7,508  
Commercial and financial8,573  2,114  (1,881) 106  —  8,912  
Consumer2,731  898  (734) 78  (1) 2,972  
Totals$32,822  $2,551  $(2,644) $803  $(27) $33,505  

Six Months Ended June 30, 2020
(In thousands)Beginning
Balance		Impact of Adoption of ASC 326 Initial Allowance on PCD Loans Acquired During the PeriodProvision
for Credit
Losses		Charge-
Offs		RecoveriesTDR
Allowance
Adjustments		Ending
Balance
Construction and land development$1,842  $1,479  $48  $3,727  $—  $66  $(1) $7,161  
Commercial real estate - owner-occupied5,361  80  207  (34) (45) 18  (25) 5,562  
Commercial real estate - non owner-occupied7,863  9,341  140  21,628  (12) 32  —  38,992  
Residential real estate7,667  5,787  97  6,834  (131) 218  (19) 20,453  
Commercial and financial9,716  3,677  11  4,063  (2,866) 913  —  15,514  
Consumer2,705  862  13  906  (1,087) 170  (1) 3,568  
Paycheck Protection Program—  —  —  —  —  —  —  —  
Totals$35,154  $21,226  $516  $37,124  $(4,141) $1,417  $(46) $91,250  
Six Months Ended June 30, 2019
(In thousands)Beginning BalanceProvision for Loan LossesCharge- OffsRecoveriesTDR Allowance AdjustmentsEnding Balance
Construction and land development$2,233  $4  $—  $7  $(1) $2,243  
Commercial real estate11,112  192  (16) 612  (30) 11,870  
Residential real estate7,775  (363) (65) 190  (29) 7,508  
Commercial and financial8,585  2,967  (2,825) 185  —  8,912  
Consumer2,718  1,148  (1,217) 325  (2) 2,972  
Totals$32,423  $3,948  $(4,123) $1,319  $(62) $33,505  
Schedule of Loan Portfolio, Excluding PCI Loans and Related Allowance
The allowance for credit losses is composed of specific allowances for loans individually evaluated and general allowances for loans grouped into loan pools based on similar characteristics, which are collectively evaluated. The Company’s loan portfolio and related allowance at June 30, 2020 and December 31, 2019 is shown in the following tables:
 
 June 30, 2020
 Individually Evaluated Collectively EvaluatedTotal
(In thousands)Recorded
Investment		Associated
Allowance		Recorded
Investment		Associated
Allowance		Recorded
Investment		Associated
Allowance
Construction and land development$726  $20  $298,109  $7,141  $298,835  $7,161  
Commercial real estate - owner-occupied4,491  160  1,072,159  5,402  1,076,650  5,562  
Commercial real estate - non owner-occupied7,883  254  1,384,904  38,738  1,392,787  38,992  
Residential real estate18,216  1,071  1,449,955  19,382  1,468,171  20,453  
Commercial and financial9,822  3,628  747,410  11,886  757,232  15,514  
Consumer681  107  201,246  3,461  201,927  3,568  
Paycheck Protection Program—  —  576,450  —  576,450  —  
Totals$41,819  $5,240  $5,730,233  $86,010  $5,772,052  $91,250  

 December 31, 2019
 Individually Evaluated Collectively Evaluated
 Total
(In thousands)Recorded
Investment		Associated
Allowance		Recorded
Investment		Associated
Allowance		Recorded
Investment		Associated
Allowance
Construction and land development$5,217  $14  $319,896  $1,828  $325,113  $1,842  
Commercial real estate20,484  220  2,358,487  13,004  2,378,971  13,224  
Residential real estate16,093  834  1,491,770  6,833  1,507,863  7,667  
Commercial and financial6,631  1,731  771,621  7,985  778,252  9,716  
Consumer337  59  207,868  2,646  208,205  2,705  
Totals$48,762  $2,858  $5,149,642  $32,296  $5,198,404  $35,154  
v3.20.2
Securities Sold Under Agreements to Repurchase (Tables)
 6 Months Ended
Jun. 30, 2020
Brokers and Dealers [Abstract]  
Schedule of Securities Sold Under Agreements to Repurchase and Securities Pledged Company securities pledged were as follows by collateral type and maturity as of: 
(In thousands)June 30, 2020December 31, 2019
Fair value of pledged securities - overnight and continuous:
Mortgage-backed securities and collateralized mortgage obligations of U.S. government sponsored entities$97,344  $94,354  
v3.20.2
Noninterest Income and Expense (Tables)
 6 Months Ended
Jun. 30, 2020
Brokers and Dealers [Abstract]  
Schedule of Noninterest Income and Expense
Details of noninterest income and expenses for the three and six months ended June 30, 2020 and 2019 are as follows:
 
 Three Months Ended June 30,Six Months Ended June 30,
(In thousands)2020201920202019
Noninterest income  
Service charges on deposit accounts$1,939  $2,894  $4,764  $5,591  
Interchange income3,187  3,405  6,433  6,806  
Wealth management income1,719  1,688  3,586  3,141  
Mortgage banking fees3,559  1,734  5,767  2,849  
Marine finance fees157  201  303  563  
SBA gains181  691  320  1,327  
BOLI income887  927  1,773  1,842  
Other income2,147  2,503  5,499  4,769  
 13,776  14,043  28,445  26,888  
 Securities gains (losses), net1,230  (466) 1,249  (475) 
 Total$15,006  $13,577  $29,694  $26,413  
Noninterest expense
Salaries and wages$20,226  $19,420  $43,924  $37,926  
Employee benefits3,379  3,195  7,634  7,401  
Outsourced data processing costs4,059  3,876  8,692  7,721  
Telephone/data lines791  893  1,505  1,704  
Occupancy3,385  3,741  6,738  7,548  
Furniture and equipment1,358  1,544  2,981  3,301  
Marketing997  1,211  2,275  2,343  
Legal and professional fees2,277  2,033  5,640  4,880  
FDIC assessments266  337  266  825  
Amortization of intangibles1,483  1,456  2,939  2,914  
Foreclosed property expense and net loss (gain) on sale245  (174) (70) (214) 
Other3,933  3,468  7,673  7,750  
 Total$42,399  $41,000  $90,197  $84,099  
v3.20.2
Fair Value (Tables)
 6 Months Ended
Jun. 30, 2020
Fair Value Disclosures [Abstract]  
Schedule of Fair Value of Assets Measured on Recurring and Nonrecurring Basis
Under ASC Topic 820, fair value measurements for items measured at fair value on a recurring and nonrecurring basis at June 30, 2020 and December 31, 2019 included:
(In thousands)Fair Value
Measurements		Quoted Prices
in Active
Markets for
Identical
Assets
(Level 1)		Significant
Other
Observable
Inputs
(Level 2)		Significant
Unobservable
Inputs
(Level 3)
June 30, 2020    
Available for sale debt securities1
$976,025  $102  $975,923  $—  
Loans held for sale2
54,943  —  54,943  —  
Loans3
7,974  —  1,448  6,526  
Other real estate owned4
15,847  —  2,368  13,479  
Equity securities5
6,548  6,548  —  —  
December 31, 2019
Available for sale debt securities1
$946,855  $100  $946,755  $—  
Loans held for sale2
20,029  —  20,029  —  
Loans3
5,123  —  1,419  3,704  
Other real estate owned4
12,390  —  241  12,149  
Equity securities5
6,392  6,392  —  —  
1See Note D for further detail of fair value of individual investment categories.
2Recurring fair value basis determined using observable market data.
3See Note E. Nonrecurring fair value adjustments to loans identified as impaired reflect full or partial write-downs that are based on the loan’s observable market price or current appraised value of the collateral in accordance with ASC Topic 310.
4Fair value is measured on a nonrecurring basis in accordance with ASC Topic 360.
5An investment in shares of a mutual fund that invests primarily in CRA-qualified debt securities, reported at fair value in Other Assets. Recurring fair value basis is determined using market quotations.
Schedule of Aggregate Fair Value and Contractual Balance of Loans for Sale The aggregate fair value and contractual balance of loans held for sale as of June 30, 2020 and December 31, 2019 is as follows:
(In thousands)June 30, 2020December 31, 2019
Aggregate fair value$54,943  $20,029  
Contractual balance53,556  19,445  
Excess1,387  584  
Schedule of Carrying Amount and Fair Value of Other Significant Financial Instruments Not Measured on a Recurring Basis The carrying amount and fair value of the Company’s other financial instruments that were not disclosed previously in the balance sheet and for which carrying amount is not fair value as of June 30, 2020 and December 31, 2019 is as follows:
(In thousands)Carrying AmountQuoted Prices in Active Markets for Identical Assets
(Level 1)		Significant Other Observable Inputs
(Level 2)		Significant Unobservable Inputs
(Level 3)
June 30, 2020    
Financial Assets    
Debt securities held-to-maturity1
$227,092  $—  $235,946  $—  
Time deposits with other banks2,496  —  —  2,530  
Loans, net5,672,828  —  —  5,770,882  
Financial Liabilities
Deposit liabilities6,666,783  —  —  6,673,509  
Federal Home Loan Bank (FHLB) borrowings135,000  —  —  134,782  
Subordinated debt71,225  —  64,143  —  
December 31, 2019
Financial Assets
Debt securities held-to-maturity1

$261,369  $—  $262,213  $—  
Time deposits with other banks3,742  —  —  3,744  
Loans, net5,158,127  —  —  5,139,491  
Financial Liabilities
Deposit liabilities5,584,753  —  —  5,584,621  
Federal Home Loan Bank (FHLB) borrowings315,000  —  —  314,995  
Subordinated debt71,085  —  64,017  —  
1See Note D for further detail of individual investment categories.
v3.20.2
Business Combinations (Tables)
 6 Months Ended
Jun. 30, 2020
Business Combinations [Abstract]  
Schedule of Purchase Price Calculation
(In thousands, except per share data)March 13, 2020
Number of FBPB common shares outstanding5,213  
Per share exchange ratio0.2000  
Number of shares of common stock issued1,043  
Multiplied by common stock price per share on March 13, 2020$20.17  
Value of common stock issued21,031  
Cash paid for FBPB vested stock options866  
Total purchase price$21,897  
Schedule of Business Acquisitions The fair values initially assigned to assets acquired and liabilities assumed are preliminary and could change for up to one year after the closing date of the acquisition as new information and circumstances relative to closing date fair values becomes known.
(In thousands)Initially Measured
March 13, 2020		Measurement Period AdjustmentsAs Adjusted March 13, 2020
Assets: 
Cash$34,749  $—  $34,749  
Investment securities447  —  447  
Loans146,839  (62) 146,777  
Bank premises and equipment6,086  —  6,086  
Core deposit intangibles819  —  819  
Goodwill6,799  62  6,861  
Other assets1,285  20  1,305  
 Total assets$197,024  $20  $197,044  
Liabilities:
Deposits$173,741  $—  $173,741  
Other liabilities1,386  20  1,406  
Total liabilities$175,127  $20  $175,147  
Schedule of Fair Value of Acquired Loans, Unpaid Principal Balance, Purchase Price and Allowance for Credit Losses
The table below presents information with respect to the fair value and unpaid principal balance of acquired loans at the acquisition date.
March 13, 2020
(In thousands)Book BalanceFair Value
Loans:  
Construction and land development$9,493  $9,012  
Commercial real estate - owner-occupied46,221  45,171  
Commercial real estate - non owner-occupied36,268  35,079  
Residential real estate 47,569  47,043  
Commercial and financial9,659  9,388  
Consumer1,132  1,084  
Total acquired loans$150,342  $146,777  
The table below presents the carrying amount of loans for which, at the date of acquisition, there was evidence of more than insignificant deterioration of credit quality since origination:
(In thousands)March 13, 2020
Book balance of loans at acquisition$43,682  
Allowance for credit losses at acquisition(516) 
Non-credit related discount(128) 
Total PCD loans acquired$43,038  
Schedule of Pro-Forma Data
Pro-forma data for the three and six months ended June 30, 2020 presents information as if the acquisition of FBPB occurred at the beginning of 2019, as follows:
Three Months Ended June 30, 2020Six Months Ended June 30, 2020
(In thousands, except per share amounts)2020201920202019
Net interest income1
$67,272  $61,879  $131,887  $124,417  
Net income25,080  23,966  27,526  45,378  
EPS - basic$0.47  $0.46  $0.52  $0.87  
EPS - diluted0.47  0.45  0.52  0.86  
1The provision for credit losses of $1.8 million recorded under CECL at the time of acquisition has been excluded from the pro forma information above, which presents information as if the acquisition had occurred on January 1, 2019, prior to the Company's adoption of CECL.
v3.20.2
Basis of Presentation - Narrative (Details) - USD ($)
 6 Months Ended
Jan. 01, 2020
Jun. 30, 2020
Dec. 31, 2019
New Accounting Pronouncements or Change in Accounting Principle [Line Items]      
Increase to amortized cost basis of PCD loans to reflect increase in adjustment to allowance for credit losses   $ 516,000  
Held-to-maturity securities, allowance for credit loss   0  
Unrealized losses   6,088,000 $ 4,547,000
Cumulative Effect Adjustment      
New Accounting Pronouncements or Change in Accounting Principle [Line Items]      
Increase to amortized cost basis of PCD loans to reflect increase in adjustment to allowance for credit losses $ 700,000    
Noncredit discount on PCD loans to be accredited into interest income over remaining life of loans 900,000    
Collateralized loan obligations      
New Accounting Pronouncements or Change in Accounting Principle [Line Items]      
Unrealized losses $ 1,200,000 $ 5,444,000 $ 1,153,000
v3.20.2
Basis of Presentation - Schedule of Cumulative Effect Adjustments (Details) - USD ($)
$ in Thousands
Jun. 30, 2020
Mar. 31, 2020
Jan. 01, 2020
Dec. 31, 2019
Jun. 30, 2019
Mar. 31, 2019
Dec. 31, 2018
New Accounting Pronouncements or Change in Accounting Principle [Line Items]              
Loans $ 5,772,052     $ 5,198,404      
Allowance for credit losses 91,250 $ 85,411   35,154 $ 33,505 $ 32,822 $ 32,423
Reserve for unfunded commitments       140      
Deferred tax assets $ 21,404     16,457      
Retained earnings       195,813      
Cumulative Effect Adjustment              
New Accounting Pronouncements or Change in Accounting Principle [Line Items]              
Loans     $ (706)        
Allowance for credit losses     21,226 $ 21,226      
Reserve for unfunded commitments     1,837        
Deferred tax assets     (5,481)        
Retained earnings     (16,876)        
Cumulative Effect Adjusted Balance              
New Accounting Pronouncements or Change in Accounting Principle [Line Items]              
Loans     5,197,698        
Allowance for credit losses     56,380        
Reserve for unfunded commitments     1,977        
Deferred tax assets     10,976        
Retained earnings     $ 178,937        
v3.20.2
Earnings per Share - Narrative (Details) - shares
shares in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Earnings Per Share [Abstract]        
Antidilutive securities excluded from diluted earnings per share calculation (in shares) 508 494 489 494
v3.20.2
Earnings per Share - Schedule of Earnings Per Share, Basic and Diluted (Details) - USD ($)
$ / shares in Units, shares in Thousands, $ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Basic earnings per share        
Net income $ 25,080 $ 23,253 $ 25,789 $ 45,958
Average common shares outstanding (in shares) 52,985 51,446 52,394 51,403
Net income per share (in dollars per share) $ 0.47 $ 0.45 $ 0.49 $ 0.89
Diluted earnings per share        
Average common shares outstanding (in shares) 52,985 51,446 52,394 51,403
Add: Dilutive effect of employee restricted stock and stock options (in shares) 323 506 413 595
Average diluted shares outstanding (in shares) 53,308 51,952 52,807 51,998
Net income per share (in dollars per share) $ 0.47 $ 0.45 $ 0.49 $ 0.88
v3.20.2
Securities - Amortized Cost and Fair Value of Securities Available for Sale and Held for Investment (Details) - USD ($)
$ in Thousands
Jun. 30, 2020
Dec. 31, 2019
Debt securities available-for-sale    
Available for sale, amortized cost, total $ 953,342 $ 940,765
Available for sale, gross unrealized gains 28,771 8,764
Available for sale, gross unrealized losses (6,088) (2,674)
Available for sale, fair value 976,025 946,855
Debt securities held-to-maturity    
Held to maturity, amortized cost, total 227,092 261,369
Held to maturity, gross unrealized gains 8,860 2,717
Held to maturity, gross unrealized losses (6) (1,873)
Held to maturity, fair value 235,946 262,213
U.S. Treasury securities and obligations of U.S. government agencies    
Debt securities available-for-sale    
Available for sale, amortized cost, total 8,981 9,914
Available for sale, gross unrealized gains 418 204
Available for sale, gross unrealized losses (1) (4)
Available for sale, fair value 9,398 10,114
Mortgage-backed securities and collateralized mortgage obligations of U.S. government-sponsored entities    
Debt securities available-for-sale    
Available for sale, amortized cost, total 636,528 604,934
Available for sale, gross unrealized gains 24,747 5,784
Available for sale, gross unrealized losses (90) (1,511)
Available for sale, fair value 661,185 609,207
Debt securities held-to-maturity    
Held to maturity, amortized cost, total 227,092 261,369
Held to maturity, gross unrealized gains 8,860 2,717
Held to maturity, gross unrealized losses (6) (1,873)
Held to maturity, fair value 235,946 262,213
Private mortgage-backed securities and collateralized mortgage obligations    
Debt securities available-for-sale    
Available for sale, amortized cost, total 75,756 56,005
Available for sale, gross unrealized gains 1,645 1,561
Available for sale, gross unrealized losses (550) (5)
Available for sale, fair value 76,851 57,561
Debt securities held-to-maturity    
Held to maturity, fair value 0  
Collateralized loan obligations    
Debt securities available-for-sale    
Available for sale, amortized cost, total 204,258 239,364
Available for sale, gross unrealized gains 3 7
Available for sale, gross unrealized losses (5,444) (1,153)
Available for sale, fair value 198,817 238,218
Debt securities held-to-maturity    
Held to maturity, fair value 0  
Obligations of state and political subdivisions    
Debt securities available-for-sale    
Available for sale, amortized cost, total 27,819 30,548
Available for sale, gross unrealized gains 1,958 1,208
Available for sale, gross unrealized losses (3) (1)
Available for sale, fair value $ 29,774 $ 31,755
v3.20.2
Securities - Narrative (Details) - USD ($)
 3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Jan. 01, 2020
Dec. 31, 2019
Debt Securities, Available-for-sale [Line Items]            
Proceeds from sale of debt securities available-for-sale $ 64,500,000 $ 38,200,000 $ 92,314,000 $ 73,297,000    
Gross gains from sale of securities 2,300,000   2,400,000 200,000    
Gross losses from sale of securities (1,100,000) (600,000) (1,300,000) (900,000)    
Gain (loss) on investment in shares of mutual funds 1,230,000 (466,000) 1,249,000 $ (475,000)    
Unrealized losses on mortgage backed securities of government sponsored entities 6,088,000   6,088,000     $ 4,547,000
Fair value of securities in unrealized loss position 283,851,000   283,851,000     527,939,000
Federal Home Loan Bank and Federal Reserve stock recorded in other assets 37,200,000   37,200,000      
Accrued interest receivable on AFS debt securities 3,100,000   3,100,000     3,800,000
Accrued interest receivable on HTM debt securities 500,000   500,000     600,000
Held-to-maturity securities, allowance for credit loss $ 0   $ 0      
Visa | Common Class B            
Debt Securities, Available-for-sale [Line Items]            
Shares of Visa stock held (in shares) 11,330   11,330      
Visa | Common Class A            
Debt Securities, Available-for-sale [Line Items]            
Conversion rate of Class A stock for each share of Class B stock (in dollars per share) $ 1.6228   $ 1.6228      
Shares issued (in shares)     18,386      
CRA - Qualified Mutual Fund            
Debt Securities, Available-for-sale [Line Items]            
Gain (loss) on investment in shares of mutual funds   $ 100,000 $ 200,000      
Investment in mutual fund carried at fair value $ 6,500,000   6,500,000      
Public Deposits and Secured Borrowings | Carrying Value            
Debt Securities, Available-for-sale [Line Items]            
Fair value of debt securities pledged as collateral 330,300,000   330,300,000      
Private mortgage-backed securities and collateralized mortgage obligations            
Debt Securities, Available-for-sale [Line Items]            
Unrealized losses on mortgage backed securities of government sponsored entities 550,000   550,000     5,000
Fair value of securities in unrealized loss position 24,532,000   24,532,000     2,978,000
Allowance for credit losses on AFS debt securities $ 0   $ 0      
Average credit support percentage 22.00%   22.00%      
Mortgage-backed securities and collateralized mortgage obligations of U.S. government-sponsored entities            
Debt Securities, Available-for-sale [Line Items]            
Unrealized losses on mortgage backed securities of government sponsored entities $ 90,000   $ 90,000     3,384,000
Fair value of securities in unrealized loss position 65,630,000   65,630,000     324,241,000
Collateralized loan obligations            
Debt Securities, Available-for-sale [Line Items]            
Unrealized losses on mortgage backed securities of government sponsored entities 5,444,000   5,444,000   $ 1,200,000 1,153,000
Fair value of securities in unrealized loss position 192,908,000   192,908,000     $ 199,447,000
Allowance for credit losses on AFS debt securities $ 0   $ 0      
Standard & Poor's, AAA Rating | Collateralized loan obligations            
Debt Securities, Available-for-sale [Line Items]            
Number of positions held, percentage of total 36.00%   36.00%      
Standard & Poor's, AA Rating | Collateralized loan obligations            
Debt Securities, Available-for-sale [Line Items]            
Number of positions held, percentage of total 26.00%   26.00%      
v3.20.2
Securities - Amortized Cost and Fair Value of Securities by Contractual Maturity (Details) - USD ($)
$ in Thousands
Jun. 30, 2020
Dec. 31, 2019
Amortized Cost    
Held to maturity, amortized cost, total $ 227,092 $ 261,369
Fair Value    
Held to maturity, fair value, total 235,946 262,213
Amortized Cost    
Available for sale, amortized cost, total 953,342 940,765
Fair Value    
Available for sale, fair value, total 976,025 946,855
Other Debt Obligations    
Amortized Cost    
Held to maturity, amortized cost, due in less than one year 0  
Held to maturity, amortized cost, due after one year through five years 0  
Held to maturity, amortized cost, due after five years through ten years 0  
Held to maturity, amortized cost, due after ten years 0  
Held to maturity, amortized cost, total 0  
Fair Value    
Held to maturity, fair value, due in less than one year 0  
Held to maturity, fair value, due after one year through five years 0  
Held to maturity, fair value, due after five years through ten years 0  
Held to maturity, fair value, due after ten years 0  
Held to maturity, fair value, total 0  
Amortized Cost    
Available for sale, amortized cost, due in less than one year 2,100  
Available for sale, amortized cost, due after one year through five years 8,655  
Available for sale, amortized cost, due after five years through ten years 8,577  
Available for sale, amortized cost, due after ten years 17,468  
Available for sale, amortized cost, total 36,800  
Fair Value    
Available for sale, fair value, due in less than one year 2,125  
Available for sale, fair value, due after one year through five years 9,063  
Available for sale, fair value, due after five years through ten years 9,200  
Available for sale, fair value, due after ten years 18,784  
Available for sale, fair value, total 39,172  
Mortgage-backed securities and collateralized mortgage obligations of U.S. government-sponsored entities    
Amortized Cost    
Held to maturity, amortized cost, total 227,092  
Fair Value    
Held to maturity, fair value, total 235,946 262,213
Amortized Cost    
Available for sale, amortized cost, total 636,528 604,934
Fair Value    
Available for sale, fair value, total 661,185 609,207
Private mortgage-backed securities and collateralized mortgage obligations    
Amortized Cost    
Held to maturity, amortized cost, total 0  
Fair Value    
Held to maturity, fair value, total 0  
Amortized Cost    
Available for sale, amortized cost, total 75,756 56,005
Fair Value    
Available for sale, fair value, total 76,851 57,561
Collateralized loan obligations    
Amortized Cost    
Held to maturity, amortized cost, total 0  
Fair Value    
Held to maturity, fair value, total 0  
Amortized Cost    
Available for sale, amortized cost, total 204,258 239,364
Fair Value    
Available for sale, fair value, total $ 198,817 $ 238,218
v3.20.2
Securities - Schedule of Unrealized Loss and Fair Value on Investments (Details) - USD ($)
$ in Thousands
Jun. 30, 2020
Jan. 01, 2020
Dec. 31, 2019
Fair Value      
Less Than 12 Months $ 174,885   $ 312,988
12 Months or Longer 108,966   214,951
Total 283,851   527,939
Unrealized Losses      
Less Than 12 Months (2,266)   (2,041)
12 Months or Longer (3,822)   (2,506)
Total (6,088)   (4,547)
U.S. Treasury securities and obligations of U.S. government agencies      
Fair Value      
Less Than 12 Months 269   758
12 Months or Longer 0   0
Total 269   758
Unrealized Losses      
Less Than 12 Months (1)   (4)
12 Months or Longer 0   0
Total (1)   (4)
Mortgage-backed securities and collateralized mortgage obligations of U.S. government-sponsored entities      
Fair Value      
Less Than 12 Months 65,273   220,057
12 Months or Longer 357   104,184
Total 65,630   324,241
Unrealized Losses      
Less Than 12 Months (74)   (1,461)
12 Months or Longer (16)   (1,923)
Total (90)   (3,384)
Private mortgage-backed securities and collateralized mortgage obligations      
Fair Value      
Less Than 12 Months 24,532   2,978
12 Months or Longer 0   0
Total 24,532   2,978
Unrealized Losses      
Less Than 12 Months (550)   (5)
12 Months or Longer 0   0
Total (550)   (5)
Collateralized loan obligations      
Fair Value      
Less Than 12 Months 84,299   88,680
12 Months or Longer 108,609   110,767
Total 192,908   199,447
Unrealized Losses      
Less Than 12 Months (1,638)   (570)
12 Months or Longer (3,806)   (583)
Total (5,444) $ (1,200) (1,153)
Obligations of state and political subdivisions      
Fair Value      
Less Than 12 Months 512   515
12 Months or Longer 0   0
Total 512   515
Unrealized Losses      
Less Than 12 Months (3)   (1)
12 Months or Longer 0   0
Total $ (3)   $ (1)
v3.20.2
Loans - Schedule of Portfolio Loans, Purchased Credit Impaired Loans and Purchased Unimpaired Loans (Details) - USD ($)
$ in Thousands
Jun. 30, 2020
Dec. 31, 2019
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loans $ 5,772,052 $ 5,198,404
Construction and land development    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loans 298,835 325,113
Commercial real estate - owner-occupied    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loans 1,076,650 1,000,000
Commercial real estate - non owner-occupied    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loans 1,392,787  
Commercial real estate    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loans   2,378,971
Residential real estate    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loans 1,468,171 1,507,863
Commercial and financial    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loans 757,232 778,252
Consumer    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loans 201,927 208,205
Paycheck Protection Program    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loans 576,450  
Portfolio Loans    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loans 4,892,335 4,317,918
Portfolio Loans | Construction and land development    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loans 270,715 281,335
Portfolio Loans | Commercial real estate - owner-occupied    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loans 832,943  
Portfolio Loans | Commercial real estate - non owner-occupied    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loans 1,074,063  
Portfolio Loans | Commercial real estate    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loans   1,834,811
Portfolio Loans | Residential real estate    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loans 1,249,368 1,304,305
Portfolio Loans | Commercial and financial    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loans 692,933 697,301
Portfolio Loans | Consumer    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loans 195,863 200,166
Portfolio Loans | Paycheck Protection Program    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loans 576,450  
PULs    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loans   867,820
PULs | Construction and land development    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loans   43,618
PULs | Commercial real estate    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loans   533,943
PULs | Residential real estate    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loans   201,848
PULs | Commercial and financial    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loans   80,372
PULs | Consumer    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loans   8,039
PCD Loans    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loans   12,666
PCD Loans | Construction and land development    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loans   160
PCD Loans | Commercial real estate    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loans   10,217
PCD Loans | Residential real estate    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loans   1,710
PCD Loans | Commercial and financial    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loans   579
PCD Loans | Consumer    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loans   $ 0
Acquired Non-PCD Loans    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loans 828,388  
Acquired Non-PCD Loans | Construction and land development    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loans 25,691  
Acquired Non-PCD Loans | Commercial real estate - owner-occupied    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loans 216,598  
Acquired Non-PCD Loans | Commercial real estate - non owner-occupied    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loans 306,880  
Acquired Non-PCD Loans | Residential real estate    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loans 210,247  
Acquired Non-PCD Loans | Commercial and financial    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loans 63,272  
Acquired Non-PCD Loans | Consumer    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loans 5,700  
Acquired Non-PCD Loans | Paycheck Protection Program    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loans 0  
PCD Loans    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loans 51,329  
PCD Loans | Construction and land development    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loans 2,429  
PCD Loans | Commercial real estate - owner-occupied    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loans 27,109  
PCD Loans | Commercial real estate - non owner-occupied    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loans 11,844  
PCD Loans | Residential real estate    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loans 8,556  
PCD Loans | Commercial and financial    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loans 1,027  
PCD Loans | Consumer    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loans 364  
PCD Loans | Paycheck Protection Program    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loans $ 0  
v3.20.2
Loans - Narrative (Details)
 3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2020
USD ($)
contract
Jun. 30, 2019
USD ($)
contract
Jun. 30, 2020
USD ($)
contract
Jun. 30, 2019
USD ($)
contract
Dec. 31, 2019
USD ($)
contract
Mar. 13, 2020
USD ($)
Financing Receivable, Troubled Debt Restructuring [Line Items]            
Net deferred costs         $ 19,900,000  
Accrued interest receivable $ 25,300,000   $ 25,300,000   $ 14,900,000  
Interest income from securities with no related allowance 300,000 $ 300,000        
Allowance for credit loss on TDRs $ 400,000 $ 0 $ 400,000 $ 0    
Number of loans under trouble debt restructuring | contract 3 2 8 4 3  
Value of loans under trouble debt restructuring $ 59,000 $ 370,000 $ 541,000 $ 2,365,000 $ 1,400,000  
Interest income related to impaired loans with impairment measured on present value of expected future cash flows 21,000 $ 27,000 46,000 $ 62,000    
Portfolio Loans            
Financing Receivable, Troubled Debt Restructuring [Line Items]            
Net deferred costs 21,500,000   21,500,000      
Portfolio Loans | Paycheck Protection Program            
Financing Receivable, Troubled Debt Restructuring [Line Items]            
Net deferred fees $ 13,000,000.0   13,000,000.0      
First Bank of the Palm Beaches            
Financing Receivable, Troubled Debt Restructuring [Line Items]            
Loans acquired in acquisition           $ 146,777,000
Loans | Bank Shares, Inc            
Financing Receivable, Troubled Debt Restructuring [Line Items]            
Remaining fair value adjustment for loans acquired     $ 28,900,000   $ 34,900,000  
Percentage of fair value adjustment for loans acquired 3.30%   3.30%   3.80%  
PCD Loans | First Bank of the Palm Beaches            
Financing Receivable, Troubled Debt Restructuring [Line Items]            
Loans acquired in acquisition $ 43,000,000.0   $ 43,000,000.0     $ 43,038,000
PCD Loans | Loans | Bank Shares, Inc            
Financing Receivable, Troubled Debt Restructuring [Line Items]            
Remaining fair value adjustment for loans acquired     1,000,000.0      
Non-PCD Loans | First Bank of the Palm Beaches            
Financing Receivable, Troubled Debt Restructuring [Line Items]            
Loans acquired in acquisition $ 103,800,000   103,800,000      
Non-PCD Loans | Loans | Bank Shares, Inc            
Financing Receivable, Troubled Debt Restructuring [Line Items]            
Remaining fair value adjustment for loans acquired     $ 27,900,000      
v3.20.2
Loans - Past Due Financing Receivables (Details) - USD ($)
$ in Thousands
Jun. 30, 2020
Dec. 31, 2019
Financing Receivable, Past Due [Line Items]    
Current $ 5,725,805 $ 5,163,098
Nonaccrual 30,051 26,955
Loans 5,772,052 5,198,404
Accruing 30-59 Days Past Due    
Financing Receivable, Past Due [Line Items]    
Financing receivable, recorded investment, past due 9,556 7,259
Accruing 60-89 Days Past Due    
Financing Receivable, Past Due [Line Items]    
Financing receivable, recorded investment, past due 5,541 984
Accruing Greater Than 90 Days    
Financing Receivable, Past Due [Line Items]    
Financing receivable, recorded investment, past due 1,099 108
Construction and land development    
Financing Receivable, Past Due [Line Items]    
Nonaccrual 606 4,936
Loans 298,835 325,113
Commercial real estate    
Financing Receivable, Past Due [Line Items]    
Nonaccrual   6,520
Loans   2,378,971
Commercial real estate - owner-occupied    
Financing Receivable, Past Due [Line Items]    
Nonaccrual 3,766  
Loans 1,076,650 1,000,000
Commercial real estate - non owner-occupied    
Financing Receivable, Past Due [Line Items]    
Nonaccrual 3,132  
Loans 1,392,787  
Residential real estate    
Financing Receivable, Past Due [Line Items]    
Nonaccrual 12,787 9,480
Loans 1,468,171 1,507,863
Commercial and financial    
Financing Receivable, Past Due [Line Items]    
Nonaccrual 9,358 5,909
Loans 757,232 778,252
Consumer    
Financing Receivable, Past Due [Line Items]    
Nonaccrual 402 110
Loans 201,927 208,205
Paycheck Protection Program    
Financing Receivable, Past Due [Line Items]    
Loans 576,450  
Portfolio Loans    
Financing Receivable, Past Due [Line Items]    
Current 4,855,795 4,290,227
Nonaccrual 22,248 20,990
Loans 4,892,335 4,317,918
Portfolio Loans | Accruing 30-59 Days Past Due    
Financing Receivable, Past Due [Line Items]    
Financing receivable, recorded investment, past due 7,920 6,040
Portfolio Loans | Accruing 60-89 Days Past Due    
Financing Receivable, Past Due [Line Items]    
Financing receivable, recorded investment, past due 5,541 553
Portfolio Loans | Accruing Greater Than 90 Days    
Financing Receivable, Past Due [Line Items]    
Financing receivable, recorded investment, past due 831 108
Portfolio Loans | Construction and land development    
Financing Receivable, Past Due [Line Items]    
Current 270,070 276,984
Nonaccrual 22 4,351
Loans 270,715 281,335
Portfolio Loans | Construction and land development | Accruing 30-59 Days Past Due    
Financing Receivable, Past Due [Line Items]    
Financing receivable, recorded investment, past due 0 0
Portfolio Loans | Construction and land development | Accruing 60-89 Days Past Due    
Financing Receivable, Past Due [Line Items]    
Financing receivable, recorded investment, past due 623 0
Portfolio Loans | Construction and land development | Accruing Greater Than 90 Days    
Financing Receivable, Past Due [Line Items]    
Financing receivable, recorded investment, past due 0 0
Portfolio Loans | Commercial real estate    
Financing Receivable, Past Due [Line Items]    
Current   1,828,629
Nonaccrual   4,356
Loans   1,834,811
Portfolio Loans | Commercial real estate | Accruing 30-59 Days Past Due    
Financing Receivable, Past Due [Line Items]    
Financing receivable, recorded investment, past due   1,606
Portfolio Loans | Commercial real estate | Accruing 60-89 Days Past Due    
Financing Receivable, Past Due [Line Items]    
Financing receivable, recorded investment, past due   220
Portfolio Loans | Commercial real estate | Accruing Greater Than 90 Days    
Financing Receivable, Past Due [Line Items]    
Financing receivable, recorded investment, past due   0
Portfolio Loans | Commercial real estate - owner-occupied    
Financing Receivable, Past Due [Line Items]    
Current 829,903  
Nonaccrual 2,425  
Loans 832,943  
Portfolio Loans | Commercial real estate - owner-occupied | Accruing 30-59 Days Past Due    
Financing Receivable, Past Due [Line Items]    
Financing receivable, recorded investment, past due 0  
Portfolio Loans | Commercial real estate - owner-occupied | Accruing 60-89 Days Past Due    
Financing Receivable, Past Due [Line Items]    
Financing receivable, recorded investment, past due 0  
Portfolio Loans | Commercial real estate - owner-occupied | Accruing Greater Than 90 Days    
Financing Receivable, Past Due [Line Items]    
Financing receivable, recorded investment, past due 615  
Portfolio Loans | Commercial real estate - non owner-occupied    
Financing Receivable, Past Due [Line Items]    
Current 1,069,979  
Nonaccrual 2,096  
Loans 1,074,063  
Portfolio Loans | Commercial real estate - non owner-occupied | Accruing 30-59 Days Past Due    
Financing Receivable, Past Due [Line Items]    
Financing receivable, recorded investment, past due 1,988  
Portfolio Loans | Commercial real estate - non owner-occupied | Accruing 60-89 Days Past Due    
Financing Receivable, Past Due [Line Items]    
Financing receivable, recorded investment, past due 0  
Portfolio Loans | Commercial real estate - non owner-occupied | Accruing Greater Than 90 Days    
Financing Receivable, Past Due [Line Items]    
Financing receivable, recorded investment, past due 0  
Portfolio Loans | Residential real estate    
Financing Receivable, Past Due [Line Items]    
Current 1,230,480 1,294,778
Nonaccrual 10,326 7,945
Loans 1,249,368 1,304,305
Portfolio Loans | Residential real estate | Accruing 30-59 Days Past Due    
Financing Receivable, Past Due [Line Items]    
Financing receivable, recorded investment, past due 3,729 1,564
Portfolio Loans | Residential real estate | Accruing 60-89 Days Past Due    
Financing Receivable, Past Due [Line Items]    
Financing receivable, recorded investment, past due 4,833 18
Portfolio Loans | Residential real estate | Accruing Greater Than 90 Days    
Financing Receivable, Past Due [Line Items]    
Financing receivable, recorded investment, past due 0 0
Portfolio Loans | Commercial and financial    
Financing Receivable, Past Due [Line Items]    
Current 683,667 690,412
Nonaccrual 6,977 4,228
Loans 692,933 697,301
Portfolio Loans | Commercial and financial | Accruing 30-59 Days Past Due    
Financing Receivable, Past Due [Line Items]    
Financing receivable, recorded investment, past due 2,034 2,553
Portfolio Loans | Commercial and financial | Accruing 60-89 Days Past Due    
Financing Receivable, Past Due [Line Items]    
Financing receivable, recorded investment, past due 39 0
Portfolio Loans | Commercial and financial | Accruing Greater Than 90 Days    
Financing Receivable, Past Due [Line Items]    
Financing receivable, recorded investment, past due 216 108
Portfolio Loans | Consumer    
Financing Receivable, Past Due [Line Items]    
Current 195,246 199,424
Nonaccrual 402 110
Loans 195,863 200,166
Portfolio Loans | Consumer | Accruing 30-59 Days Past Due    
Financing Receivable, Past Due [Line Items]    
Financing receivable, recorded investment, past due 169 317
Portfolio Loans | Consumer | Accruing 60-89 Days Past Due    
Financing Receivable, Past Due [Line Items]    
Financing receivable, recorded investment, past due 46 315
Portfolio Loans | Consumer | Accruing Greater Than 90 Days    
Financing Receivable, Past Due [Line Items]    
Financing receivable, recorded investment, past due 0 0
Portfolio Loans | Paycheck Protection Program    
Financing Receivable, Past Due [Line Items]    
Current 576,450  
Nonaccrual 0  
Loans 576,450  
Portfolio Loans | Paycheck Protection Program | Accruing 30-59 Days Past Due    
Financing Receivable, Past Due [Line Items]    
Financing receivable, recorded investment, past due 0  
Portfolio Loans | Paycheck Protection Program | Accruing 60-89 Days Past Due    
Financing Receivable, Past Due [Line Items]    
Financing receivable, recorded investment, past due 0  
Portfolio Loans | Paycheck Protection Program | Accruing Greater Than 90 Days    
Financing Receivable, Past Due [Line Items]    
Financing receivable, recorded investment, past due 0  
Acquired Non-PCD Loans    
Financing Receivable, Past Due [Line Items]    
Current   862,272
Nonaccrual   3,898
Loans   867,820
Acquired Non-PCD Loans | Accruing 30-59 Days Past Due    
Financing Receivable, Past Due [Line Items]    
Financing receivable, recorded investment, past due   1,219
Acquired Non-PCD Loans | Accruing 60-89 Days Past Due    
Financing Receivable, Past Due [Line Items]    
Financing receivable, recorded investment, past due   431
Acquired Non-PCD Loans | Accruing Greater Than 90 Days    
Financing Receivable, Past Due [Line Items]    
Financing receivable, recorded investment, past due   0
Acquired Non-PCD Loans | Construction and land development    
Financing Receivable, Past Due [Line Items]    
Current   43,044
Nonaccrual   574
Loans   43,618
Acquired Non-PCD Loans | Construction and land development | Accruing 30-59 Days Past Due    
Financing Receivable, Past Due [Line Items]    
Financing receivable, recorded investment, past due   0
Acquired Non-PCD Loans | Construction and land development | Accruing 60-89 Days Past Due    
Financing Receivable, Past Due [Line Items]    
Financing receivable, recorded investment, past due   0
Acquired Non-PCD Loans | Construction and land development | Accruing Greater Than 90 Days    
Financing Receivable, Past Due [Line Items]    
Financing receivable, recorded investment, past due   0
Acquired Non-PCD Loans | Commercial real estate    
Financing Receivable, Past Due [Line Items]    
Current   531,325
Nonaccrual   1,245
Loans   533,943
Acquired Non-PCD Loans | Commercial real estate | Accruing 30-59 Days Past Due    
Financing Receivable, Past Due [Line Items]    
Financing receivable, recorded investment, past due   942
Acquired Non-PCD Loans | Commercial real estate | Accruing 60-89 Days Past Due    
Financing Receivable, Past Due [Line Items]    
Financing receivable, recorded investment, past due   431
Acquired Non-PCD Loans | Commercial real estate | Accruing Greater Than 90 Days    
Financing Receivable, Past Due [Line Items]    
Financing receivable, recorded investment, past due   0
Acquired Non-PCD Loans | Residential real estate    
Financing Receivable, Past Due [Line Items]    
Current   201,159
Nonaccrual   412
Loans   201,848
Acquired Non-PCD Loans | Residential real estate | Accruing 30-59 Days Past Due    
Financing Receivable, Past Due [Line Items]    
Financing receivable, recorded investment, past due   277
Acquired Non-PCD Loans | Residential real estate | Accruing 60-89 Days Past Due    
Financing Receivable, Past Due [Line Items]    
Financing receivable, recorded investment, past due   0
Acquired Non-PCD Loans | Residential real estate | Accruing Greater Than 90 Days    
Financing Receivable, Past Due [Line Items]    
Financing receivable, recorded investment, past due   0
Acquired Non-PCD Loans | Commercial and financial    
Financing Receivable, Past Due [Line Items]    
Current   78,705
Nonaccrual   1,667
Loans   80,372
Acquired Non-PCD Loans | Commercial and financial | Accruing 30-59 Days Past Due    
Financing Receivable, Past Due [Line Items]    
Financing receivable, recorded investment, past due   0
Acquired Non-PCD Loans | Commercial and financial | Accruing 60-89 Days Past Due    
Financing Receivable, Past Due [Line Items]    
Financing receivable, recorded investment, past due   0
Acquired Non-PCD Loans | Commercial and financial | Accruing Greater Than 90 Days    
Financing Receivable, Past Due [Line Items]    
Financing receivable, recorded investment, past due   0
Acquired Non-PCD Loans | Consumer    
Financing Receivable, Past Due [Line Items]    
Current   8,039
Nonaccrual   0
Loans   8,039
Acquired Non-PCD Loans | Consumer | Accruing 30-59 Days Past Due    
Financing Receivable, Past Due [Line Items]    
Financing receivable, recorded investment, past due   0
Acquired Non-PCD Loans | Consumer | Accruing 60-89 Days Past Due    
Financing Receivable, Past Due [Line Items]    
Financing receivable, recorded investment, past due   0
Acquired Non-PCD Loans | Consumer | Accruing Greater Than 90 Days    
Financing Receivable, Past Due [Line Items]    
Financing receivable, recorded investment, past due   0
PCD Loans    
Financing Receivable, Past Due [Line Items]    
Current   10,599
Nonaccrual   2,067
Loans   12,666
PCD Loans | Accruing 30-59 Days Past Due    
Financing Receivable, Past Due [Line Items]    
Financing receivable, recorded investment, past due   0
PCD Loans | Accruing 60-89 Days Past Due    
Financing Receivable, Past Due [Line Items]    
Financing receivable, recorded investment, past due   0
PCD Loans | Accruing Greater Than 90 Days    
Financing Receivable, Past Due [Line Items]    
Financing receivable, recorded investment, past due   0
PCD Loans | Construction and land development    
Financing Receivable, Past Due [Line Items]    
Current   148
Nonaccrual   12
Loans   160
PCD Loans | Construction and land development | Accruing 30-59 Days Past Due    
Financing Receivable, Past Due [Line Items]    
Financing receivable, recorded investment, past due   0
PCD Loans | Construction and land development | Accruing 60-89 Days Past Due    
Financing Receivable, Past Due [Line Items]    
Financing receivable, recorded investment, past due   0
PCD Loans | Construction and land development | Accruing Greater Than 90 Days    
Financing Receivable, Past Due [Line Items]    
Financing receivable, recorded investment, past due   0
PCD Loans | Commercial real estate    
Financing Receivable, Past Due [Line Items]    
Current   9,298
Nonaccrual   919
Loans   10,217
PCD Loans | Commercial real estate | Accruing 30-59 Days Past Due    
Financing Receivable, Past Due [Line Items]    
Financing receivable, recorded investment, past due   0
PCD Loans | Commercial real estate | Accruing 60-89 Days Past Due    
Financing Receivable, Past Due [Line Items]    
Financing receivable, recorded investment, past due   0
PCD Loans | Commercial real estate | Accruing Greater Than 90 Days    
Financing Receivable, Past Due [Line Items]    
Financing receivable, recorded investment, past due   0
PCD Loans | Residential real estate    
Financing Receivable, Past Due [Line Items]    
Current   587
Nonaccrual   1,123
Loans   1,710
PCD Loans | Residential real estate | Accruing 30-59 Days Past Due    
Financing Receivable, Past Due [Line Items]    
Financing receivable, recorded investment, past due   0
PCD Loans | Residential real estate | Accruing 60-89 Days Past Due    
Financing Receivable, Past Due [Line Items]    
Financing receivable, recorded investment, past due   0
PCD Loans | Residential real estate | Accruing Greater Than 90 Days    
Financing Receivable, Past Due [Line Items]    
Financing receivable, recorded investment, past due   0
PCD Loans | Commercial and financial    
Financing Receivable, Past Due [Line Items]    
Current   566
Nonaccrual   13
Loans   579
PCD Loans | Commercial and financial | Accruing 30-59 Days Past Due    
Financing Receivable, Past Due [Line Items]    
Financing receivable, recorded investment, past due   0
PCD Loans | Commercial and financial | Accruing 60-89 Days Past Due    
Financing Receivable, Past Due [Line Items]    
Financing receivable, recorded investment, past due   0
PCD Loans | Commercial and financial | Accruing Greater Than 90 Days    
Financing Receivable, Past Due [Line Items]    
Financing receivable, recorded investment, past due   0
PCD Loans | Consumer    
Financing Receivable, Past Due [Line Items]    
Current   0
Nonaccrual   0
Loans   0
PCD Loans | Consumer | Accruing 30-59 Days Past Due    
Financing Receivable, Past Due [Line Items]    
Financing receivable, recorded investment, past due   0
PCD Loans | Consumer | Accruing 60-89 Days Past Due    
Financing Receivable, Past Due [Line Items]    
Financing receivable, recorded investment, past due   0
PCD Loans | Consumer | Accruing Greater Than 90 Days    
Financing Receivable, Past Due [Line Items]    
Financing receivable, recorded investment, past due   $ 0
Acquired Non-PCD Loans    
Financing Receivable, Past Due [Line Items]    
Current 821,041  
Nonaccrual 5,530  
Loans 828,388  
Acquired Non-PCD Loans | Accruing 30-59 Days Past Due    
Financing Receivable, Past Due [Line Items]    
Financing receivable, recorded investment, past due 1,549  
Acquired Non-PCD Loans | Accruing 60-89 Days Past Due    
Financing Receivable, Past Due [Line Items]    
Financing receivable, recorded investment, past due 0  
Acquired Non-PCD Loans | Accruing Greater Than 90 Days    
Financing Receivable, Past Due [Line Items]    
Financing receivable, recorded investment, past due 268  
Acquired Non-PCD Loans | Construction and land development    
Financing Receivable, Past Due [Line Items]    
Current 25,117  
Nonaccrual 574  
Loans 25,691  
Acquired Non-PCD Loans | Construction and land development | Accruing 30-59 Days Past Due    
Financing Receivable, Past Due [Line Items]    
Financing receivable, recorded investment, past due 0  
Acquired Non-PCD Loans | Construction and land development | Accruing 60-89 Days Past Due    
Financing Receivable, Past Due [Line Items]    
Financing receivable, recorded investment, past due 0  
Acquired Non-PCD Loans | Construction and land development | Accruing Greater Than 90 Days    
Financing Receivable, Past Due [Line Items]    
Financing receivable, recorded investment, past due 0  
Acquired Non-PCD Loans | Commercial real estate - owner-occupied    
Financing Receivable, Past Due [Line Items]    
Current 213,731  
Nonaccrual 1,341  
Loans 216,598  
Acquired Non-PCD Loans | Commercial real estate - owner-occupied | Accruing 30-59 Days Past Due    
Financing Receivable, Past Due [Line Items]    
Financing receivable, recorded investment, past due 1,526  
Acquired Non-PCD Loans | Commercial real estate - owner-occupied | Accruing 60-89 Days Past Due    
Financing Receivable, Past Due [Line Items]    
Financing receivable, recorded investment, past due 0  
Acquired Non-PCD Loans | Commercial real estate - owner-occupied | Accruing Greater Than 90 Days    
Financing Receivable, Past Due [Line Items]    
Financing receivable, recorded investment, past due 0  
Acquired Non-PCD Loans | Commercial real estate - non owner-occupied    
Financing Receivable, Past Due [Line Items]    
Current 306,612  
Nonaccrual 0  
Loans 306,880  
Acquired Non-PCD Loans | Commercial real estate - non owner-occupied | Accruing 30-59 Days Past Due    
Financing Receivable, Past Due [Line Items]    
Financing receivable, recorded investment, past due 0  
Acquired Non-PCD Loans | Commercial real estate - non owner-occupied | Accruing 60-89 Days Past Due    
Financing Receivable, Past Due [Line Items]    
Financing receivable, recorded investment, past due 0  
Acquired Non-PCD Loans | Commercial real estate - non owner-occupied | Accruing Greater Than 90 Days    
Financing Receivable, Past Due [Line Items]    
Financing receivable, recorded investment, past due 268  
Acquired Non-PCD Loans | Residential real estate    
Financing Receivable, Past Due [Line Items]    
Current 208,963  
Nonaccrual 1,284  
Loans 210,247  
Acquired Non-PCD Loans | Residential real estate | Accruing 30-59 Days Past Due    
Financing Receivable, Past Due [Line Items]    
Financing receivable, recorded investment, past due 0  
Acquired Non-PCD Loans | Residential real estate | Accruing 60-89 Days Past Due    
Financing Receivable, Past Due [Line Items]    
Financing receivable, recorded investment, past due 0  
Acquired Non-PCD Loans | Residential real estate | Accruing Greater Than 90 Days    
Financing Receivable, Past Due [Line Items]    
Financing receivable, recorded investment, past due 0  
Acquired Non-PCD Loans | Commercial and financial    
Financing Receivable, Past Due [Line Items]    
Current 60,941  
Nonaccrual 2,331  
Loans 63,272  
Acquired Non-PCD Loans | Commercial and financial | Accruing 30-59 Days Past Due    
Financing Receivable, Past Due [Line Items]    
Financing receivable, recorded investment, past due 0  
Acquired Non-PCD Loans | Commercial and financial | Accruing 60-89 Days Past Due    
Financing Receivable, Past Due [Line Items]    
Financing receivable, recorded investment, past due 0  
Acquired Non-PCD Loans | Commercial and financial | Accruing Greater Than 90 Days    
Financing Receivable, Past Due [Line Items]    
Financing receivable, recorded investment, past due 0  
Acquired Non-PCD Loans | Consumer    
Financing Receivable, Past Due [Line Items]    
Current 5,677  
Nonaccrual 0  
Loans 5,700  
Acquired Non-PCD Loans | Consumer | Accruing 30-59 Days Past Due    
Financing Receivable, Past Due [Line Items]    
Financing receivable, recorded investment, past due 23  
Acquired Non-PCD Loans | Consumer | Accruing 60-89 Days Past Due    
Financing Receivable, Past Due [Line Items]    
Financing receivable, recorded investment, past due 0  
Acquired Non-PCD Loans | Consumer | Accruing Greater Than 90 Days    
Financing Receivable, Past Due [Line Items]    
Financing receivable, recorded investment, past due 0  
Acquired Non-PCD Loans | Paycheck Protection Program    
Financing Receivable, Past Due [Line Items]    
Loans 0  
PCD Loans    
Financing Receivable, Past Due [Line Items]    
Current 48,969  
Nonaccrual 2,273  
Loans 51,329  
PCD Loans | Accruing 30-59 Days Past Due    
Financing Receivable, Past Due [Line Items]    
Financing receivable, recorded investment, past due 87  
PCD Loans | Accruing 60-89 Days Past Due    
Financing Receivable, Past Due [Line Items]    
Financing receivable, recorded investment, past due 0  
PCD Loans | Accruing Greater Than 90 Days    
Financing Receivable, Past Due [Line Items]    
Financing receivable, recorded investment, past due 0  
PCD Loans | Construction and land development    
Financing Receivable, Past Due [Line Items]    
Current 2,419  
Nonaccrual 10  
Loans 2,429  
PCD Loans | Construction and land development | Accruing 30-59 Days Past Due    
Financing Receivable, Past Due [Line Items]    
Financing receivable, recorded investment, past due 0  
PCD Loans | Construction and land development | Accruing 60-89 Days Past Due    
Financing Receivable, Past Due [Line Items]    
Financing receivable, recorded investment, past due 0  
PCD Loans | Construction and land development | Accruing Greater Than 90 Days    
Financing Receivable, Past Due [Line Items]    
Financing receivable, recorded investment, past due 0  
PCD Loans | Commercial real estate - owner-occupied    
Financing Receivable, Past Due [Line Items]    
Current 27,109  
Nonaccrual 0  
Loans 27,109  
PCD Loans | Commercial real estate - owner-occupied | Accruing 30-59 Days Past Due    
Financing Receivable, Past Due [Line Items]    
Financing receivable, recorded investment, past due 0  
PCD Loans | Commercial real estate - owner-occupied | Accruing 60-89 Days Past Due    
Financing Receivable, Past Due [Line Items]    
Financing receivable, recorded investment, past due 0  
PCD Loans | Commercial real estate - owner-occupied | Accruing Greater Than 90 Days    
Financing Receivable, Past Due [Line Items]    
Financing receivable, recorded investment, past due 0  
PCD Loans | Commercial real estate - non owner-occupied    
Financing Receivable, Past Due [Line Items]    
Current 10,808  
Nonaccrual 1,036  
Loans 11,844  
PCD Loans | Commercial real estate - non owner-occupied | Accruing 30-59 Days Past Due    
Financing Receivable, Past Due [Line Items]    
Financing receivable, recorded investment, past due 0  
PCD Loans | Commercial real estate - non owner-occupied | Accruing 60-89 Days Past Due    
Financing Receivable, Past Due [Line Items]    
Financing receivable, recorded investment, past due 0  
PCD Loans | Commercial real estate - non owner-occupied | Accruing Greater Than 90 Days    
Financing Receivable, Past Due [Line Items]    
Financing receivable, recorded investment, past due 0  
PCD Loans | Residential real estate    
Financing Receivable, Past Due [Line Items]    
Current 7,379  
Nonaccrual 1,177  
Loans 8,556  
PCD Loans | Residential real estate | Accruing 30-59 Days Past Due    
Financing Receivable, Past Due [Line Items]    
Financing receivable, recorded investment, past due 0  
PCD Loans | Residential real estate | Accruing 60-89 Days Past Due    
Financing Receivable, Past Due [Line Items]    
Financing receivable, recorded investment, past due 0  
PCD Loans | Residential real estate | Accruing Greater Than 90 Days    
Financing Receivable, Past Due [Line Items]    
Financing receivable, recorded investment, past due 0  
PCD Loans | Commercial and financial    
Financing Receivable, Past Due [Line Items]    
Current 977  
Nonaccrual 50  
Loans 1,027  
PCD Loans | Commercial and financial | Accruing 30-59 Days Past Due    
Financing Receivable, Past Due [Line Items]    
Financing receivable, recorded investment, past due 0  
PCD Loans | Commercial and financial | Accruing 60-89 Days Past Due    
Financing Receivable, Past Due [Line Items]    
Financing receivable, recorded investment, past due 0  
PCD Loans | Commercial and financial | Accruing Greater Than 90 Days    
Financing Receivable, Past Due [Line Items]    
Financing receivable, recorded investment, past due 0  
PCD Loans | Consumer    
Financing Receivable, Past Due [Line Items]    
Current 277  
Nonaccrual 0  
Loans 364  
PCD Loans | Consumer | Accruing 30-59 Days Past Due    
Financing Receivable, Past Due [Line Items]    
Financing receivable, recorded investment, past due 87  
PCD Loans | Consumer | Accruing 60-89 Days Past Due    
Financing Receivable, Past Due [Line Items]    
Financing receivable, recorded investment, past due 0  
PCD Loans | Consumer | Accruing Greater Than 90 Days    
Financing Receivable, Past Due [Line Items]    
Financing receivable, recorded investment, past due 0  
PCD Loans | Paycheck Protection Program    
Financing Receivable, Past Due [Line Items]    
Loans $ 0  
v3.20.2
Loans - Schedule of Nonaccrual Loans by Loan Category (Details) - USD ($)
$ in Thousands
Jun. 30, 2020
Dec. 31, 2019
Financing Receivable, Nonaccrual [Line Items]    
Nonaccrual loans with no related allowance for credit losses $ 22,837 $ 23,301
Nonaccrual loans with allowance for credit losses 7,214 3,654
Nonaccrual loans with no related allowance for credit losses, total loans 30,051 26,955
Nonaccrual loans, allowance for credit losses 4,663 2,384
Construction and land development    
Financing Receivable, Nonaccrual [Line Items]    
Nonaccrual loans with no related allowance for credit losses 585 4,913
Nonaccrual loans with allowance for credit losses 21 23
Nonaccrual loans with no related allowance for credit losses, total loans 606 4,936
Nonaccrual loans, allowance for credit losses 11 12
Commercial real estate - owner-occupied    
Financing Receivable, Nonaccrual [Line Items]    
Nonaccrual loans with no related allowance for credit losses 3,445  
Nonaccrual loans with allowance for credit losses 321  
Nonaccrual loans with no related allowance for credit losses, total loans 3,766  
Nonaccrual loans, allowance for credit losses 160  
Commercial real estate - non owner-occupied    
Financing Receivable, Nonaccrual [Line Items]    
Nonaccrual loans with no related allowance for credit losses 2,096  
Nonaccrual loans with allowance for credit losses 1,036  
Nonaccrual loans with no related allowance for credit losses, total loans 3,132  
Nonaccrual loans, allowance for credit losses 204  
Commercial real estate    
Financing Receivable, Nonaccrual [Line Items]    
Nonaccrual loans with no related allowance for credit losses   6,200
Nonaccrual loans with allowance for credit losses   320
Nonaccrual loans with no related allowance for credit losses, total loans   6,520
Nonaccrual loans, allowance for credit losses   149
Residential real estate    
Financing Receivable, Nonaccrual [Line Items]    
Nonaccrual loans with no related allowance for credit losses 11,871 8,700
Nonaccrual loans with allowance for credit losses 916 780
Nonaccrual loans with no related allowance for credit losses, total loans 12,787 9,480
Nonaccrual loans, allowance for credit losses 793 564
Commercial and financial    
Financing Receivable, Nonaccrual [Line Items]    
Nonaccrual loans with no related allowance for credit losses 4,808 3,449
Nonaccrual loans with allowance for credit losses 4,550 2,460
Nonaccrual loans with no related allowance for credit losses, total loans 9,358 5,909
Nonaccrual loans, allowance for credit losses 3,409 1,622
Consumer    
Financing Receivable, Nonaccrual [Line Items]    
Nonaccrual loans with no related allowance for credit losses 32 39
Nonaccrual loans with allowance for credit losses 370 71
Nonaccrual loans with no related allowance for credit losses, total loans 402 110
Nonaccrual loans, allowance for credit losses $ 86 $ 37
v3.20.2
Loans - Schedule of Loans in Deferral (Details) - Paycheck Protection Program
$ in Thousands
Jun. 30, 2020
USD ($)
Financing Receivable, Nonaccrual [Line Items]  
Value of loans deferred, not classified as TDRs $ 1,077,043
Percentage on payment deferral 21.00%
Construction and land development  
Financing Receivable, Nonaccrual [Line Items]  
Value of loans deferred, not classified as TDRs $ 14,488
Percentage on payment deferral 5.00%
Commercial real estate - owner-occupied  
Financing Receivable, Nonaccrual [Line Items]  
Value of loans deferred, not classified as TDRs $ 320,406
Percentage on payment deferral 30.00%
Commercial real estate - non owner-occupied  
Financing Receivable, Nonaccrual [Line Items]  
Value of loans deferred, not classified as TDRs $ 445,311
Percentage on payment deferral 32.00%
Residential real estate  
Financing Receivable, Nonaccrual [Line Items]  
Value of loans deferred, not classified as TDRs $ 148,035
Percentage on payment deferral 10.00%
Commercial and financial  
Financing Receivable, Nonaccrual [Line Items]  
Value of loans deferred, not classified as TDRs $ 130,877
Percentage on payment deferral 17.00%
Consumer  
Financing Receivable, Nonaccrual [Line Items]  
Value of loans deferred, not classified as TDRs $ 17,926
Percentage on payment deferral 9.00%
v3.20.2
Loans - Schedule of Collateral Dependent Loans (Details) - USD ($)
$ in Thousands
Jun. 30, 2020
Dec. 31, 2019
Financing Receivable, Allowance for Credit Loss [Line Items]    
Total collateral dependent loans $ 30,434 $ 26,678
Construction and land development    
Financing Receivable, Allowance for Credit Loss [Line Items]    
Total collateral dependent loans 634 4,926
Commercial real estate - owner-occupied    
Financing Receivable, Allowance for Credit Loss [Line Items]    
Total collateral dependent loans 6,173 2,571
Commercial real estate - non owner-occupied    
Financing Receivable, Allowance for Credit Loss [Line Items]    
Total collateral dependent loans 3,574 3,152
Residential real estate    
Financing Receivable, Allowance for Credit Loss [Line Items]    
Total collateral dependent loans 14,117 11,550
Commercial and financial    
Financing Receivable, Allowance for Credit Loss [Line Items]    
Total collateral dependent loans 5,526 4,338
Consumer    
Financing Receivable, Allowance for Credit Loss [Line Items]    
Total collateral dependent loans $ 410 $ 141
v3.20.2
Loans - Risk Categories of Loans by Class of Loans (Details) - USD ($)
$ in Thousands
Jun. 30, 2020
Dec. 31, 2019
Financing Receivable, Credit Quality Indicator [Line Items]    
2020 $ 923,194  
2019 975,533  
2018 885,466  
2017 707,402  
2016 662,295  
Prior 1,039,260  
Revolving 578,902  
Total 5,772,052 $ 5,198,404
Pass    
Financing Receivable, Credit Quality Indicator [Line Items]    
2020 922,672  
2019 971,272  
2018 873,927  
2017 693,075  
2016 633,485  
Prior 994,588  
Revolving 564,537  
Total 5,653,556 5,091,691
Special Mention    
Financing Receivable, Credit Quality Indicator [Line Items]    
2020 397  
2019 2,724  
2018 1,698  
2017 3,786  
2016 15,829  
Prior 10,315  
Revolving 3,000  
Total 37,749 51,560
Substandard    
Financing Receivable, Credit Quality Indicator [Line Items]    
2020 0  
2019 148  
2018 7,946  
2017 4,060  
2016 9,825  
Prior 14,869  
Revolving 6,357  
Total 43,205 53,958
Substandard Impaired    
Financing Receivable, Credit Quality Indicator [Line Items]    
2020 125  
2019 1,389  
2018 1,895  
2017 6,442  
2016 2,835  
Prior 19,488  
Revolving 4,999  
Total 37,173  
Doubtful    
Financing Receivable, Credit Quality Indicator [Line Items]    
2020 0  
2019 0  
2018 0  
2017 39  
2016 321  
Prior 0  
Revolving 9  
Total 369 1,195
Construction and land development    
Financing Receivable, Credit Quality Indicator [Line Items]    
2020 29,610  
2019 96,052  
2018 71,906  
2017 35,172  
2016 11,052  
Prior 20,616  
Revolving 34,427  
Total 298,835 325,113
Construction and land development | Pass    
Financing Receivable, Credit Quality Indicator [Line Items]    
2020 29,412  
2019 95,549  
2018 70,528  
2017 35,134  
2016 10,478  
Prior 18,260  
Revolving 33,439  
Total 292,800 317,765
Construction and land development | Special Mention    
Financing Receivable, Credit Quality Indicator [Line Items]    
2020 198  
2019 503  
2018 1,378  
2017 38  
2016 0  
Prior 2,147  
Revolving 0  
Total 4,264 2,235
Construction and land development | Substandard    
Financing Receivable, Credit Quality Indicator [Line Items]    
2020 0  
2019 0  
2018 0  
2017 0  
2016 0  
Prior 58  
Revolving 988  
Total 1,046 5,113
Construction and land development | Substandard Impaired    
Financing Receivable, Credit Quality Indicator [Line Items]    
2020 0  
2019 0  
2018 0  
2017 0  
2016 574  
Prior 151  
Revolving 0  
Total 725  
Construction and land development | Doubtful    
Financing Receivable, Credit Quality Indicator [Line Items]    
2020 0  
2019 0  
2018 0  
2017 0  
2016 0  
Prior 0  
Revolving 0  
Total 0 0
Commercial real estate - owner-occupied    
Financing Receivable, Credit Quality Indicator [Line Items]    
2020 74,503  
2019 187,333  
2018 158,516  
2017 145,160  
2016 164,586  
Prior 330,600  
Revolving 15,952  
Total 1,076,650 1,000,000
Commercial real estate - owner-occupied | Pass    
Financing Receivable, Credit Quality Indicator [Line Items]    
2020 74,304  
2019 185,717  
2018 157,946  
2017 139,936  
2016 158,728  
Prior 317,778  
Revolving 15,952  
Total 1,050,361  
Commercial real estate - owner-occupied | Special Mention    
Financing Receivable, Credit Quality Indicator [Line Items]    
2020 199  
2019 1,616  
2018 0  
2017 1,016  
2016 4,471  
Prior 4,088  
Revolving 0  
Total 11,390  
Commercial real estate - owner-occupied | Substandard    
Financing Receivable, Credit Quality Indicator [Line Items]    
2020 0  
2019 0  
2018 570  
2017 3,782  
2016 1,066  
Prior 5,100  
Revolving 0  
Total 10,518  
Commercial real estate - owner-occupied | Substandard Impaired    
Financing Receivable, Credit Quality Indicator [Line Items]    
2020 0  
2019 0  
2018 0  
2017 426  
2016 0  
Prior 3,634  
Revolving 0  
Total 4,060  
Commercial real estate - owner-occupied | Doubtful    
Financing Receivable, Credit Quality Indicator [Line Items]    
2020 0  
2019 0  
2018 0  
2017 0  
2016 321  
Prior 0  
Revolving 0  
Total 321  
Commercial real estate - non owner-occupied    
Financing Receivable, Credit Quality Indicator [Line Items]    
2020 80,710  
2019 321,949  
2018 235,981  
2017 131,813  
2016 213,026  
Prior 401,808  
Revolving 7,500  
Total 1,392,787  
Commercial real estate - non owner-occupied | Pass    
Financing Receivable, Credit Quality Indicator [Line Items]    
2020 80,710  
2019 321,844  
2018 230,276  
2017 130,437  
2016 196,698  
Prior 390,280  
Revolving 6,150  
Total 1,356,395  
Commercial real estate - non owner-occupied | Special Mention    
Financing Receivable, Credit Quality Indicator [Line Items]    
2020 0  
2019 105  
2018 0  
2017 1,376  
2016 7,876  
Prior 1,117  
Revolving 0  
Total 10,474  
Commercial real estate - non owner-occupied | Substandard    
Financing Receivable, Credit Quality Indicator [Line Items]    
2020 0  
2019 0  
2018 5,705  
2017 0  
2016 8,326  
Prior 6,367  
Revolving 1,350  
Total 21,748  
Commercial real estate - non owner-occupied | Substandard Impaired    
Financing Receivable, Credit Quality Indicator [Line Items]    
2020 0  
2019 0  
2018 0  
2017 0  
2016 126  
Prior 4,044  
Revolving 0  
Total 4,170  
Commercial real estate - non owner-occupied | Doubtful    
Financing Receivable, Credit Quality Indicator [Line Items]    
2020 0  
2019 0  
2018 0  
2017 0  
2016 0  
Prior 0  
Revolving 0  
Total 0  
Commercial real estate    
Financing Receivable, Credit Quality Indicator [Line Items]    
Total   2,378,971
Commercial real estate | Pass    
Financing Receivable, Credit Quality Indicator [Line Items]    
Total   2,331,725
Commercial real estate | Special Mention    
Financing Receivable, Credit Quality Indicator [Line Items]    
Total   26,827
Commercial real estate | Substandard    
Financing Receivable, Credit Quality Indicator [Line Items]    
Total   20,098
Commercial real estate | Doubtful    
Financing Receivable, Credit Quality Indicator [Line Items]    
Total   321
Residential real estate    
Financing Receivable, Credit Quality Indicator [Line Items]    
2020 32,646  
2019 160,940  
2018 263,368  
2017 278,163  
2016 200,049  
Prior 215,431  
Revolving 317,574  
Total 1,468,171 1,507,863
Residential real estate | Pass    
Financing Receivable, Credit Quality Indicator [Line Items]    
2020 32,562  
2019 160,057  
2018 261,757  
2017 273,829  
2016 196,662  
Prior 202,708  
Revolving 312,596  
Total 1,440,171 1,482,278
Residential real estate | Special Mention    
Financing Receivable, Credit Quality Indicator [Line Items]    
2020 0  
2019 190  
2018 277  
2017 721  
2016 3,387  
Prior 621  
Revolving 68  
Total 5,264 7,364
Residential real estate | Substandard    
Financing Receivable, Credit Quality Indicator [Line Items]    
2020 0  
2019 0  
2018 1,334  
2017 0  
2016 0  
Prior 1,607  
Revolving 1,580  
Total 4,521 18,221
Residential real estate | Substandard Impaired    
Financing Receivable, Credit Quality Indicator [Line Items]    
2020 84  
2019 693  
2018 0  
2017 3,613  
2016 0  
Prior 10,495  
Revolving 3,330  
Total 18,215  
Residential real estate | Doubtful    
Financing Receivable, Credit Quality Indicator [Line Items]    
2020 0  
2019 0  
2018 0  
2017 0  
2016 0  
Prior 0  
Revolving 0  
Total 0 0
Commercial and financial    
Financing Receivable, Credit Quality Indicator [Line Items]    
2020 100,094  
2019 153,588  
2018 117,202  
2017 91,679  
2016 47,067  
Prior 57,469  
Revolving 190,133  
Total 757,232 778,252
Commercial and financial | Pass    
Financing Receivable, Credit Quality Indicator [Line Items]    
2020 100,094  
2019 152,509  
2018 115,004  
2017 88,448  
2016 44,728  
Prior 52,576  
Revolving 185,175  
Total 738,534 755,957
Commercial and financial | Special Mention    
Financing Receivable, Credit Quality Indicator [Line Items]    
2020 0  
2019 287  
2018 14  
2017 530  
2016 95  
Prior 2,255  
Revolving 1,181  
Total 4,362 11,925
Commercial and financial | Substandard    
Financing Receivable, Credit Quality Indicator [Line Items]    
2020 0  
2019 148  
2018 337  
2017 259  
2016 425  
Prior 1,698  
Revolving 2,099  
Total 4,966 9,496
Commercial and financial | Substandard Impaired    
Financing Receivable, Credit Quality Indicator [Line Items]    
2020 0  
2019 644  
2018 1,847  
2017 2,403  
2016 1,819  
Prior 940  
Revolving 1,669  
Total 9,322  
Commercial and financial | Doubtful    
Financing Receivable, Credit Quality Indicator [Line Items]    
2020 0  
2019 0  
2018 0  
2017 39  
2016 0  
Prior 0  
Revolving 9  
Total 48 874
Consumer    
Financing Receivable, Credit Quality Indicator [Line Items]    
2020 29,181  
2019 55,671  
2018 38,493  
2017 25,415  
2016 26,515  
Prior 13,336  
Revolving 13,316  
Total 201,927 208,205
Consumer | Pass    
Financing Receivable, Credit Quality Indicator [Line Items]    
2020 29,140  
2019 55,596  
2018 38,416  
2017 25,291  
2016 26,191  
Prior 12,986  
Revolving 11,225  
Total 198,845 203,966
Consumer | Special Mention    
Financing Receivable, Credit Quality Indicator [Line Items]    
2020 0  
2019 23  
2018 29  
2017 105  
2016 0  
Prior 87  
Revolving 1,751  
Total 1,995 3,209
Consumer | Substandard    
Financing Receivable, Credit Quality Indicator [Line Items]    
2020 0  
2019 0  
2018 0  
2017 19  
2016 8  
Prior 39  
Revolving 340  
Total 406 1,030
Consumer | Substandard Impaired    
Financing Receivable, Credit Quality Indicator [Line Items]    
2020 41  
2019 52  
2018 48  
2017 0  
2016 316  
Prior 224  
Revolving 0  
Total 681  
Consumer | Doubtful    
Financing Receivable, Credit Quality Indicator [Line Items]    
2020 0  
2019 0  
2018 0  
2017 0  
2016 0  
Prior 0  
Revolving 0  
Total 0 $ 0
Paycheck Protection Program    
Financing Receivable, Credit Quality Indicator [Line Items]    
2020 576,450  
2019 0  
2018 0  
2017 0  
2016 0  
Prior 0  
Revolving 0  
Total 576,450  
Paycheck Protection Program | Pass    
Financing Receivable, Credit Quality Indicator [Line Items]    
2020 576,450  
2019 0  
2018 0  
2017 0  
2016 0  
Prior 0  
Revolving 0  
Total $ 576,450  
v3.20.2
Loans - Troubled Debt Restructuring (Details)
$ in Thousands
 3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2020
USD ($)
contract
Jun. 30, 2019
USD ($)
contract
Jun. 30, 2020
USD ($)
contract
Jun. 30, 2019
USD ($)
contract
Dec. 31, 2019
USD ($)
contract
Financing Receivable, Troubled Debt Restructuring [Line Items]          
Number of Contracts | contract 3 2 8 4 3
Pre- Modification Outstanding Recorded Investment $ 59 $ 370 $ 541 $ 2,365  
Post- Modification Outstanding Recorded Investment $ 59 $ 370 $ 541 $ 2,365 $ 1,400
Construction and land development          
Financing Receivable, Troubled Debt Restructuring [Line Items]          
Number of Contracts | contract 1 0 1 0  
Pre- Modification Outstanding Recorded Investment $ 12 $ 0 $ 12 $ 0  
Post- Modification Outstanding Recorded Investment $ 12 $ 0 $ 12 $ 0  
Commercial real estate - owner-occupied          
Financing Receivable, Troubled Debt Restructuring [Line Items]          
Number of Contracts | contract 0 1 0 2  
Pre- Modification Outstanding Recorded Investment $ 0 $ 351 $ 0 $ 2,166  
Post- Modification Outstanding Recorded Investment $ 0 $ 351 $ 0 $ 2,166  
Commercial real estate - non owner-occupied          
Financing Receivable, Troubled Debt Restructuring [Line Items]          
Number of Contracts | contract 0 0 0 0  
Pre- Modification Outstanding Recorded Investment $ 0 $ 0 $ 0 $ 0  
Post- Modification Outstanding Recorded Investment $ 0 $ 0 $ 0 $ 0  
Residential real estate          
Financing Receivable, Troubled Debt Restructuring [Line Items]          
Number of Contracts | contract 0 0 1 0  
Pre- Modification Outstanding Recorded Investment $ 0 $ 0 $ 45 $ 0  
Post- Modification Outstanding Recorded Investment $ 0 $ 0 $ 45 $ 0  
Commercial and financial          
Financing Receivable, Troubled Debt Restructuring [Line Items]          
Number of Contracts | contract 0 0 4 1  
Pre- Modification Outstanding Recorded Investment $ 0 $ 0 $ 437 $ 180  
Post- Modification Outstanding Recorded Investment $ 0 $ 0 $ 437 $ 180  
Consumer          
Financing Receivable, Troubled Debt Restructuring [Line Items]          
Number of Contracts | contract 2 1 2 1  
Pre- Modification Outstanding Recorded Investment $ 47 $ 19 $ 47 $ 19  
Post- Modification Outstanding Recorded Investment $ 47 $ 19 $ 47 $ 19  
v3.20.2
Allowance for Credit Losses - Activity in Allowance for Loan Losses (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jan. 01, 2020
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Allowance for Loan and Lease Losses [Roll Forward]          
Beginning Balance $ 35,154 $ 85,411 $ 32,822 $ 35,154 $ 32,423
Initial Allowance on PCD Loans Acquired During the Period       516  
Provision for Credit Losses   7,611 2,551 37,124 3,948
Charge- Offs   (2,495) (2,644) (4,141) (4,123)
Recoveries   744 803 1,417 1,319
TDR Allowance Adjustments   (21) (27) (46) (62)
Ending Balance   91,250 33,505 $ 91,250 33,505
Accounting Standards Update [Extensible List]       us-gaap:AccountingStandardsUpdate201613Member  
Construction and land development          
Allowance for Loan and Lease Losses [Roll Forward]          
Beginning Balance 1,842 4,646 2,320 $ 1,842 2,233
Initial Allowance on PCD Loans Acquired During the Period       48  
Provision for Credit Losses   2,478 (79) 3,727 4
Charge- Offs   0 (1) 0 0
Recoveries   37 3 66 7
TDR Allowance Adjustments   0 0 (1) (1)
Ending Balance   7,161 2,243 7,161 2,243
Commercial real estate - owner-occupied          
Allowance for Loan and Lease Losses [Roll Forward]          
Beginning Balance 5,361 5,327   5,361  
Initial Allowance on PCD Loans Acquired During the Period       207  
Provision for Credit Losses   229   (34)  
Charge- Offs   0   (45)  
Recoveries   18   18  
TDR Allowance Adjustments   (12)   (25)  
Ending Balance   5,562   5,562  
Commercial real estate - non owner-occupied          
Allowance for Loan and Lease Losses [Roll Forward]          
Beginning Balance 7,863 35,643   7,863  
Initial Allowance on PCD Loans Acquired During the Period       140  
Provision for Credit Losses   3,345   21,628  
Charge- Offs   0   (12)  
Recoveries   4   32  
TDR Allowance Adjustments   0   0  
Ending Balance   38,992   38,992  
Commercial real estate          
Allowance for Loan and Lease Losses [Roll Forward]          
Beginning Balance 13,224   11,753 13,224 11,112
Provision for Credit Losses     (433)   192
Charge- Offs     0   (16)
Recoveries     565   612
TDR Allowance Adjustments     (15)   (30)
Ending Balance     11,870   11,870
Residential real estate          
Allowance for Loan and Lease Losses [Roll Forward]          
Beginning Balance 7,667 19,899 7,445 7,667 7,775
Initial Allowance on PCD Loans Acquired During the Period       97  
Provision for Credit Losses   574 51 6,834 (363)
Charge- Offs   (113) (28) (131) (65)
Recoveries   101 51 218 190
TDR Allowance Adjustments   (8) (11) (19) (29)
Ending Balance   20,453 7,508 20,453 7,508
Commercial and financial          
Allowance for Loan and Lease Losses [Roll Forward]          
Beginning Balance 9,716 15,470 8,573 9,716 8,585
Initial Allowance on PCD Loans Acquired During the Period       11  
Provision for Credit Losses   1,319 2,114 4,063 2,967
Charge- Offs   (1,768) (1,881) (2,866) (2,825)
Recoveries   493 106 913 185
TDR Allowance Adjustments   0 0 0 0
Ending Balance   15,514 8,912 15,514 8,912
Consumer          
Allowance for Loan and Lease Losses [Roll Forward]          
Beginning Balance 2,705 4,426 2,731 2,705 2,718
Initial Allowance on PCD Loans Acquired During the Period       13  
Provision for Credit Losses   (334) 898 906 1,148
Charge- Offs   (614) (734) (1,087) (1,217)
Recoveries   91 78 170 325
TDR Allowance Adjustments   (1) (1) (1) (2)
Ending Balance   3,568 $ 2,972 3,568 $ 2,972
Paycheck Protection Program          
Allowance for Loan and Lease Losses [Roll Forward]          
Beginning Balance 0 0   0  
Initial Allowance on PCD Loans Acquired During the Period       0  
Provision for Credit Losses   0   0  
Charge- Offs   0   0  
Recoveries   0   0  
TDR Allowance Adjustments   0   0  
Ending Balance   $ 0   0  
Cumulative Effect Adjustment          
Allowance for Loan and Lease Losses [Roll Forward]          
Beginning Balance 21,226     21,226  
Initial Allowance on PCD Loans Acquired During the Period 700        
Ending Balance 21,226        
Cumulative Effect Adjustment | Construction and land development          
Allowance for Loan and Lease Losses [Roll Forward]          
Beginning Balance 1,479     1,479  
Cumulative Effect Adjustment | Commercial real estate - owner-occupied          
Allowance for Loan and Lease Losses [Roll Forward]          
Beginning Balance 80     80  
Cumulative Effect Adjustment | Commercial real estate - non owner-occupied          
Allowance for Loan and Lease Losses [Roll Forward]          
Beginning Balance 9,341     9,341  
Cumulative Effect Adjustment | Residential real estate          
Allowance for Loan and Lease Losses [Roll Forward]          
Beginning Balance 5,787     5,787  
Cumulative Effect Adjustment | Commercial and financial          
Allowance for Loan and Lease Losses [Roll Forward]          
Beginning Balance 3,677     3,677  
Cumulative Effect Adjustment | Consumer          
Allowance for Loan and Lease Losses [Roll Forward]          
Beginning Balance 862     862  
Cumulative Effect Adjustment | Paycheck Protection Program          
Allowance for Loan and Lease Losses [Roll Forward]          
Beginning Balance $ 0     $ 0  
v3.20.2
Allowance for Credit Losses - Schedule of Loan Portfolio, Excluding PCI Loans and Related Allowance (Details) - USD ($)
$ in Thousands
Jun. 30, 2020
Mar. 31, 2020
Dec. 31, 2019
Jun. 30, 2019
Mar. 31, 2019
Dec. 31, 2018
Recorded Investment            
Individually Evaluated $ 41,819   $ 48,762      
Collectively Evaluated 5,730,233   5,149,642      
Total 5,772,052   5,198,404      
Associated Allowance            
Individually Evaluated 5,240   2,858      
Collectively Evaluated 86,010   32,296      
Total 91,250 $ 85,411 35,154 $ 33,505 $ 32,822 $ 32,423
Construction and land development            
Recorded Investment            
Individually Evaluated 726   5,217      
Collectively Evaluated 298,109   319,896      
Total 298,835   325,113      
Associated Allowance            
Individually Evaluated 20   14      
Collectively Evaluated 7,141   1,828      
Total 7,161 4,646 1,842 2,243 2,320 2,233
Commercial real estate - owner-occupied            
Recorded Investment            
Individually Evaluated 4,491          
Collectively Evaluated 1,072,159          
Total 1,076,650   1,000,000      
Associated Allowance            
Individually Evaluated 160          
Collectively Evaluated 5,402          
Total 5,562 5,327 5,361      
Commercial real estate - non owner-occupied            
Recorded Investment            
Individually Evaluated 7,883          
Collectively Evaluated 1,384,904          
Total 1,392,787          
Associated Allowance            
Individually Evaluated 254          
Collectively Evaluated 38,738          
Total 38,992 35,643 7,863      
Commercial real estate            
Recorded Investment            
Individually Evaluated     20,484      
Collectively Evaluated     2,358,487      
Total     2,378,971      
Associated Allowance            
Individually Evaluated     220      
Collectively Evaluated     13,004      
Total     13,224 11,870 11,753 11,112
Residential real estate            
Recorded Investment            
Individually Evaluated 18,216   16,093      
Collectively Evaluated 1,449,955   1,491,770      
Total 1,468,171   1,507,863      
Associated Allowance            
Individually Evaluated 1,071   834      
Collectively Evaluated 19,382   6,833      
Total 20,453 19,899 7,667 7,508 7,445 7,775
Commercial and financial            
Recorded Investment            
Individually Evaluated 9,822   6,631      
Collectively Evaluated 747,410   771,621      
Total 757,232   778,252      
Associated Allowance            
Individually Evaluated 3,628   1,731      
Collectively Evaluated 11,886   7,985      
Total 15,514 15,470 9,716 8,912 8,573 8,585
Consumer            
Recorded Investment            
Individually Evaluated 681   337      
Collectively Evaluated 201,246   207,868      
Total 201,927   208,205      
Associated Allowance            
Individually Evaluated 107   59      
Collectively Evaluated 3,461   2,646      
Total 3,568 4,426 2,705 $ 2,972 $ 2,731 $ 2,718
Paycheck Protection Program            
Recorded Investment            
Individually Evaluated 0          
Collectively Evaluated 576,450          
Total 576,450          
Associated Allowance            
Individually Evaluated 0          
Collectively Evaluated 0          
Total $ 0 $ 0 $ 0      
v3.20.2
Securities Sold Under Agreements to Repurchase - Schedule of Securities Sold Under Agreements to Repurchase and Securities Pledged (Details) - USD ($)
$ in Thousands
Jun. 30, 2020
Dec. 31, 2019
Carrying Value | Repurchase Agreement | Mortgage-backed securities and collateralized mortgage obligations of U.S. government-sponsored entities    
Fair value of pledged securities - overnight and continuous:    
Fair value of debt securities pledged as collateral $ 97,344 $ 94,354
v3.20.2
Noninterest Income and Expense - Summary of Noninterest Income and Expense (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Noninterest Income [Abstract]        
Interchange income $ 3,187 $ 3,405 $ 6,433 $ 6,806
Marine finance fees 157 201 303 563
SBA gains 181 691 320 1,327
BOLI income 887 927 1,773 1,842
Other income 2,147 2,503 5,499 4,769
Noninterest income, gross 13,776 14,043 28,445 26,888
Securities gains (losses), net 1,230 (466) 1,249 (475)
Total 15,006 13,577 29,694 26,413
Noninterest expense        
Salaries and wages 20,226 19,420 43,924 37,926
Employee benefits 3,379 3,195 7,634 7,401
Outsourced data processing costs 4,059 3,876 8,692 7,721
Telephone/data lines 791 893 1,505 1,704
Occupancy 3,385 3,741 6,738 7,548
Furniture and equipment 1,358 1,544 2,981 3,301
Marketing 997 1,211 2,275 2,343
Legal and professional fees 2,277 2,033 5,640 4,880
FDIC assessments 266 337 266 825
Amortization of intangibles 1,483 1,456 2,939 2,914
Foreclosed property expense and net loss (gain) on sale 245 (174) (70) (214)
Other 3,933 3,468 7,673 7,750
Total 42,399 41,000 90,197 84,099
Service charges on deposit accounts        
Noninterest Income [Abstract]        
Revenue from contracts with customers 1,939 2,894 4,764 5,591
Wealth management income        
Noninterest Income [Abstract]        
Revenue from contracts with customers 1,719 1,688 3,586 3,141
Mortgage banking fees        
Noninterest Income [Abstract]        
Revenue from contracts with customers $ 3,559 $ 1,734 $ 5,767 $ 2,849
v3.20.2
Equity Capital - Narrative (Details)
Jun. 30, 2020
Equity [Abstract]  
Regulatory threshold for well-capitalized institutions 0.065
v3.20.2
Fair Value - Fair Value of Assets Measured on Recurring and Nonrecurring Basis (Details) - USD ($)
$ in Thousands
Jun. 30, 2020
Dec. 31, 2019
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Available for sale, fair value $ 976,025 $ 946,855
Value of loans held for sale 54,943 20,029
Other real estate owned 15,847 12,390
Fair Value, Measurements, Recurring    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Available for sale, fair value 976,025 946,855
Value of loans held for sale 54,943 20,029
Equity securities 6,548 6,392
Fair Value, Measurements, Recurring | Quoted Prices in Active Markets for Identical Assets (Level 1)    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Available for sale, fair value 102 100
Value of loans held for sale 0 0
Equity securities 6,548 6,392
Fair Value, Measurements, Recurring | Significant Other Observable Inputs (Level 2)    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Available for sale, fair value 975,923 946,755
Value of loans held for sale 54,943 20,029
Equity securities 0 0
Fair Value, Measurements, Recurring | Significant Unobservable Inputs (Level 3)    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Available for sale, fair value 0 0
Value of loans held for sale 0 0
Equity securities 0 0
Fair Value, Measurements, Nonrecurring    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Loans 7,974 5,123
Other real estate owned 15,847 12,390
Fair Value, Measurements, Nonrecurring | Quoted Prices in Active Markets for Identical Assets (Level 1)    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Loans 0 0
Other real estate owned 0 0
Fair Value, Measurements, Nonrecurring | Significant Other Observable Inputs (Level 2)    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Loans 1,448 1,419
Other real estate owned 2,368 241
Fair Value, Measurements, Nonrecurring | Significant Unobservable Inputs (Level 3)    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Loans 6,526 3,704
Other real estate owned $ 13,479 $ 12,149
v3.20.2
Fair Value - Aggregate Fair Value and Contractual Balance of Loans for Sale (Details) - USD ($)
$ in Thousands
Jun. 30, 2020
Dec. 31, 2019
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Value of loans held for sale $ 54,943 $ 20,029
Excess 1,387 584
Contractual Balance    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Value of loans held for sale $ 53,556 $ 19,445
v3.20.2
Fair Value - Narrative (Details) - USD ($)
$ in Millions
 6 Months Ended
Jun. 30, 2020
Dec. 31, 2019
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Average capitalization rate 7.40%  
Fair value of impaired loans $ 8.0 $ 5.1
Specific reserve on repaired loans 5.2 $ 2.9
Additions 5.0  
Paydowns and chargeoffs 2.2  
Other Real Estate Owned    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Additions to level 3 from foreclosed loans 5.1  
Reductions related to sale of loans $ 3.8  
v3.20.2
Fair Value - Carrying Amount and Fair Value of Other Significant Financial Instruments Not Measured on a Recurring Basis (Details) - USD ($)
$ in Thousands
Jun. 30, 2020
Dec. 31, 2019
Financial Assets    
Debt securities held to maturity $ 227,092 $ 261,369
Time deposits with other banks 2,496 3,742
Loans, net 5,680,802 5,163,250
Fair Value, Measurements, Recurring | Quoted Prices in Active Markets for Identical Assets (Level 1)    
Financial Assets    
Debt securities held to maturity 0 0
Time deposits with other banks 0 0
Loans, net 0 0
Financial Liabilities    
Deposit liabilities 0 0
Federal Home Loan Bank (FHLB) borrowings 0 0
Subordinated debt 0 0
Fair Value, Measurements, Recurring | Significant Other Observable Inputs (Level 2)    
Financial Assets    
Debt securities held to maturity 235,946 262,213
Time deposits with other banks 0 0
Loans, net 0 0
Financial Liabilities    
Deposit liabilities 0 0
Federal Home Loan Bank (FHLB) borrowings 0 0
Subordinated debt 64,143 64,017
Fair Value, Measurements, Recurring | Significant Unobservable Inputs (Level 3)    
Financial Assets    
Debt securities held to maturity 0 0
Time deposits with other banks 2,530 3,744
Loans, net 5,770,882 5,139,491
Financial Liabilities    
Deposit liabilities 6,673,509 5,584,621
Federal Home Loan Bank (FHLB) borrowings 134,782 314,995
Subordinated debt 0 0
Carrying Value | Fair Value, Measurements, Recurring    
Financial Assets    
Debt securities held to maturity 227,092 261,369
Time deposits with other banks 2,496 3,742
Loans, net 5,672,828 5,158,127
Financial Liabilities    
Deposit liabilities 6,666,783 5,584,753
Federal Home Loan Bank (FHLB) borrowings 135,000 315,000
Subordinated debt $ 71,225 $ 71,085
v3.20.2
Business Combinations - Narrative (Details)
$ in Millions
Mar. 13, 2020
USD ($)
branch
Jun. 30, 2020
USD ($)
First Bank of the Palm Beaches    
Business Acquisition [Line Items]    
Number of branches operated | branch 2  
Percentage of common stock acquired 100.00%  
Common stock portion, number of Seacoast stock for each share of stock converted (in shares) 0.2000  
Goodwill recognized from acquisition, nondeductible $ 6.9  
Fourth Street Banking Company    
Business Acquisition [Line Items]    
Deposits of acquiree   $ 359.0
Loans of acquiree   $ 312.0
v3.20.2
Business Combinations - Purchase Price (Details) - First Bank of the Palm Beaches
$ / shares in Units, shares in Thousands, $ in Thousands
Mar. 13, 2020
USD ($)
$ / shares
shares
Business Acquisition [Line Items]  
Number of FBPB common shares outstanding (in shares) | shares 5,213
Per share exchange ratio (in shares) 0.2000
Number of shares of common stock issued (in shares) | shares 1,043
Multiplied by common stock price per share (in dollars per share) | $ / shares $ 20.17
Value of common stock issued $ 21,031
Cash paid for FBPB vested stock options 866
Total purchase price $ 21,897
v3.20.2
Business Combinations - Fair Value of the Assets Purchased, Including Goodwill and Liabilities (Details) - USD ($)
$ in Thousands
Jun. 30, 2020
Mar. 13, 2020
Dec. 31, 2019
Assets:      
Goodwill $ 212,146   $ 205,286
First Bank of the Palm Beaches      
Assets:      
Cash   $ 34,749  
Investment securities   447  
Loans   146,777  
Bank premises and equipment   6,086  
Core deposit intangibles   819  
Goodwill   6,861  
Other assets   1,305  
Total assets   197,044  
Liabilities:      
Deposits   173,741  
Other liabilities   1,406  
Total liabilities   175,147  
First Bank of the Palm Beaches | Initially Measured      
Assets:      
Cash   34,749  
Investment securities   447  
Loans   146,839  
Bank premises and equipment   6,086  
Core deposit intangibles   819  
Goodwill   6,799  
Other assets   1,285  
Total assets   197,024  
Liabilities:      
Deposits   173,741  
Other liabilities   1,386  
Total liabilities   175,127  
First Bank of the Palm Beaches | Measurement Period Adjustments      
Assets:      
Cash   0  
Investment securities   0  
Loans   (62)  
Bank premises and equipment   0  
Core deposit intangibles   0  
Goodwill   62  
Other assets   20  
Total assets   20  
Liabilities:      
Deposits   0  
Other liabilities   20  
Total liabilities   $ 20  
v3.20.2
Business Combinations - Fair Value of Acquired Loans (Details) - First Bank of the Palm Beaches
$ in Thousands
Mar. 13, 2020
USD ($)
Business Acquisition [Line Items]  
Book Balance $ 150,342
Fair Value 146,777
Construction and land development  
Business Acquisition [Line Items]  
Book Balance 9,493
Fair Value 9,012
Commercial real estate - owner-occupied  
Business Acquisition [Line Items]  
Book Balance 46,221
Fair Value 45,171
Commercial real estate - non owner-occupied  
Business Acquisition [Line Items]  
Book Balance 36,268
Fair Value 35,079
Residential real estate  
Business Acquisition [Line Items]  
Book Balance 47,569
Fair Value 47,043
Commercial and financial  
Business Acquisition [Line Items]  
Book Balance 9,659
Fair Value 9,388
Consumer  
Business Acquisition [Line Items]  
Book Balance 1,132
Fair Value $ 1,084
v3.20.2
Business Combinations - Purchased Credit Impaired Loans (Details) - First Bank of the Palm Beaches - USD ($)
$ in Thousands
Jun. 30, 2020
Mar. 13, 2020
Business Acquisition [Line Items]    
Total PCD loans acquired   $ 146,777
PCD Loans    
Business Acquisition [Line Items]    
Book balance of loans at acquisition   43,682
Allowance for credit losses at acquisition   (516)
Non-credit related discount   (128)
Total PCD loans acquired $ 43,000 $ 43,038
v3.20.2
Business Combinations - Pro-Forma Information (Details) - USD ($)
$ / shares in Units, $ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Business Combinations [Abstract]        
Net interest income1 $ 67,272 $ 61,879 $ 131,887 $ 124,417
Net income $ 25,080 $ 23,966 $ 27,526 $ 45,378
EPS - basic (in dollars per share) $ 0.47 $ 0.46 $ 0.52 $ 0.87
EPS - diluted (in dollars per share) $ 0.47 $ 0.45 $ 0.52 $ 0.86