FB FINANCIAL CORP, 10-Q filed on 8/8/2019
Quarterly Report
v3.19.2
Document and Entity Information - shares
 6 Months Ended
Jun. 30, 2019
Aug. 06, 2019
Document And Entity Information [Abstract]    
Document Type 10-Q  
Amendment Flag false  
Document Period End Date Jun. 30, 2019  
Document Fiscal Year Focus 2019  
Document Fiscal Period Focus Q2  
Entity Registrant Name FB Financial Corp  
Entity Central Index Key 0001649749  
Current Fiscal Year End Date --12-31  
Entity Current Reporting Status Yes  
Entity Filer Category Accelerated Filer  
Smaller Reporting Company false  
Emerging Growth Company true  
Entity Ex Transition Period true  
Entity Shell Company false  
Entity Common Stock, Shares Outstanding (in shares)   30,905,046
v3.19.2
Consolidated balance sheets - USD ($)
$ in Thousands
Jun. 30, 2019
Dec. 31, 2018
ASSETS    
Cash and due from banks $ 64,458 $ 38,381
Federal funds sold 9,781 31,364
Interest-bearing deposits in financial institutions 90,097 55,611
Cash and cash equivalents 164,336 125,356
Investments:    
Available-for-sale debt securities, at fair value 675,215 655,698
Equity securities, at fair value 3,242 3,107
Federal Home Loan Bank stock, at cost 15,976 13,432
Loans held for sale, at fair value 294,699 278,815
Loans 4,289,516 3,667,511
Less: allowance for loan losses 30,138 28,932
Net loans 4,259,378 3,638,579
Premises and equipment, net 92,407 86,882
Other real estate owned, net 15,521 12,643
Operating lease right-of-use assets 35,872 0
Interest receivable 17,952 14,503
Mortgage servicing rights, at fair value 66,380 88,829
Goodwill 168,486 137,190
Core deposit and other intangibles, net 19,945 11,628
Other assets 110,993 70,102
Total assets 5,940,402 5,136,764
Deposits    
Noninterest-bearing 1,111,921 949,135
Interest-bearing checking 984,847 863,706
Money market and savings 1,468,867 1,239,131
Customer time deposits 1,247,327 1,016,638
Brokered and internet time deposits 29,864 103,107
Total deposits 4,842,826 4,171,717
Borrowings 257,299 227,776
Operating lease liabilities 38,722 0
Accrued expenses and other liabilities 82,796 65,414
Total liabilities 5,221,643 4,464,907
SHAREHOLDERS' EQUITY    
Common stock, $1 par value per share; 75,000,000 shares authorized; 30,865,636 and 30,724,532 shares issued and outstanding at June 30, 2019 and December 31, 2018, respectively 30,866 30,725
Additional paid-in capital 425,644 424,146
Retained earnings 253,080 221,213
Accumulated other comprehensive income (loss), net 9,169 (4,227)
Total shareholders' equity 718,759 671,857
Total liabilities and shareholders' equity $ 5,940,402 $ 5,136,764
v3.19.2
Consolidated balance sheets (Parenthetical) - $ / shares
Jun. 30, 2019
Dec. 31, 2018
Statement of Financial Position [Abstract]    
Common stock, par value (in dollars per share) $ 1 $ 1
Common stock, shares authorized (in shares) 75,000,000 75,000,000
Common stock, shares issued (in shares) 30,865,636 30,724,532
Common stock, shares outstanding (in shares) 30,865,636 30,724,532
v3.19.2
Consolidated statements of income - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
Interest income:        
Interest and fees on loans $ 66,276 $ 54,529 $ 126,724 $ 105,222
Interest on securities        
Taxable 3,548 3,134 7,117 5,986
Tax-exempt 1,160 981 2,304 1,906
Other 735 399 1,507 777
Total interest income 71,719 59,043 137,652 113,891
Interest expense:        
Deposits 13,488 5,898 25,343 10,969
Borrowings 1,208 1,628 2,270 2,976
Total interest expense 14,696 7,526 27,613 13,945
Net interest income 57,023 51,517 110,039 99,946
Provision for loan losses 881 1,063 2,272 1,380
Net interest income after provision for loan losses 56,142 50,454 107,767 98,566
Noninterest income:        
Gain (loss) from securities, net 52 (42) 95 (89)
Gain (loss) on sales or write-downs of other real estate owned 277 23 238 (163)
(Loss) gain from other assets (183) (155) 8 (87)
Other income 1,691 1,583 3,484 3,026
Total noninterest income 32,979 35,763 62,018 69,038
Noninterest expenses:        
Salaries, commissions and employee benefits 37,918 34,366 71,615 68,393
Occupancy and equipment expense 4,319 3,545 8,049 6,969
Legal and professional fees 1,694 1,965 3,419 4,008
Data processing 2,643 2,138 5,027 4,173
Merger costs 3,783 0 4,404 1,193
Amortization of core deposit and other intangibles 1,254 802 1,983 1,655
Regulatory fees and deposit insurance assessments 634 730 1,226 1,292
Advertising 2,434 3,408 5,171 6,690
Other expense 8,818 8,801 17,232 16,876
Total noninterest expense 64,119 56,358 119,220 112,509
Income before income taxes 25,002 29,859 50,565 55,095
Income tax expense (Note 9) 6,314 7,794 12,289 13,276
Net income $ 18,688 $ 22,065 $ 38,276 $ 41,819
Earnings per common share        
Basic (in dollars per share) $ 0.60 $ 0.72 $ 1.24 $ 1.36
Fully diluted (in dollars per share) $ 0.59 $ 0.70 $ 1.21 $ 1.33
Mortgage banking income        
Noninterest income:        
Mortgage banking income, service charges on deposit accounts, ATM and interchange fees, investment services and trust income $ 24,526 $ 28,544 $ 45,547 $ 55,015
Service charges on deposit accounts        
Noninterest income:        
Mortgage banking income, service charges on deposit accounts, ATM and interchange fees, investment services and trust income 2,327 2,049 4,406 4,008
ATM and interchange fees        
Noninterest income:        
Mortgage banking income, service charges on deposit accounts, ATM and interchange fees, investment services and trust income 3,002 2,581 5,658 4,942
Investment services and trust income        
Noninterest income:        
Mortgage banking income, service charges on deposit accounts, ATM and interchange fees, investment services and trust income 1,287 1,180 2,582 2,386
Software license and maintenance fees        
Noninterest expenses:        
Software license and maintenance fees $ 622 $ 603 $ 1,094 $ 1,260
v3.19.2
Consolidated statements of comprehensive income - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
Statement of Comprehensive Income [Abstract]        
Net income $ 18,688 $ 22,065 $ 38,276 $ 41,819
Other comprehensive income (loss), net of tax:        
Net change in unrealized gain (loss) in available-for-sale securities, net of taxes of $2,382, ($749), $5,134 and ($3,319) 6,725 (2,057) 14,503 (9,096)
Reclassification adjustment for (gain) loss on sale of securities included in net income, net of taxes of ($2), $0, $0 and $2 (3) 0 1 7
Net change in unrealized (loss) gain in hedging activities, net of taxes of ($201), $72, ($317) and $518 (564) 198 (895) 1,469
Reclassification adjustment for (gain) loss on hedging activities, net of taxes of ($42), $1, ($75) and $2 (119) 4 (213) 7
Total other comprehensive income (loss), net of tax 6,039 (1,855) 13,396 (7,613)
Comprehensive income $ 24,727 $ 20,210 $ 51,672 $ 34,206
v3.19.2
Consolidated statements of comprehensive income (Parenthetical) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
Statement of Comprehensive Income [Abstract]        
Net change in unrealized gain (loss) in available for sale securities, tax $ 2,382 $ (749) $ 5,134 $ (3,319)
Reclassification adjustment for gain on sale of securities included in net income, tax (2) 0 0 2
Other comprehensive income (loss), cash flow hedge, gain (loss), before reclassification, tax (201) 72 (317) 518
Reclassification adjustment for gain on hedging activities, tax $ (42) $ 1 $ (75) $ 2
v3.19.2
Consolidated statements of changes in shareholders' equity - USD ($)
$ in Thousands
Total
Common stock
Additional paid-in capital
Retained earnings
Accumulated other comprehensive income, net
Balance at Dec. 31, 2017 $ 596,729 $ 30,536 $ 418,596 $ 147,449 $ 148
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Net income 41,819     41,819  
Other comprehensive (loss) income, net of taxes (7,613)       (7,613)
Stock based compensation expense 3,819 6 3,813    
Restricted stock units vested and distributed, net of shares withheld (2,555) 124 (2,679)    
Shares issued under employee stock purchase program 669 17 652    
Cash dividends declared (1,909)     (1,909)  
Balance at Jun. 30, 2018 630,959 30,683 420,382 187,250 (7,356)
Balance at Mar. 31, 2018 611,075 30,672 418,810 167,094 (5,501)
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Net income 22,065     22,065  
Other comprehensive (loss) income, net of taxes (1,855)       (1,855)
Stock based compensation expense 1,861 2 1,859    
Restricted stock units vested and distributed, net of shares withheld (278) 9 (287)    
Cash dividends declared (1,909)     (1,909)  
Balance at Jun. 30, 2018 630,959 30,683 420,382 187,250 (7,356)
Balance at Dec. 31, 2018 671,857 30,725 424,146 221,213 (4,227)
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Net income 38,276     38,276  
Other comprehensive (loss) income, net of taxes 13,396       13,396
Stock based compensation expense 3,785 6 3,779    
Restricted stock units vested and distributed, net of shares withheld (2,510) 124 (2,634)    
Shares issued under employee stock purchase program 364 11 353    
Cash dividends declared (5,100)     (5,100)  
Balance at Jun. 30, 2019 718,759 30,866 425,644 253,080 9,169
Balance at Mar. 31, 2019 694,577 30,853 423,647 236,947 3,130
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Net income 18,688     18,688  
Other comprehensive (loss) income, net of taxes 6,039       6,039
Stock based compensation expense 2,147 3 2,144    
Restricted stock units vested and distributed, net of shares withheld (137) 10 (147)    
Cash dividends declared (2,555)     (2,555)  
Balance at Jun. 30, 2019 $ 718,759 $ 30,866 $ 425,644 $ 253,080 $ 9,169
v3.19.2
Consolidated statements of changes in shareholders' equity (Parenthetical) - $ / shares
 3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
Statement of Stockholders' Equity [Abstract]        
Cash dividends declared (USD per share) $ 0.06 $ 0.08 $ 0.06 $ 0.16
v3.19.2
Consolidated statements of cash flows - USD ($)
 3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
Dec. 31, 2018
Cash flows from operating activities:          
Net income $ 18,688,000 $ 22,065,000 $ 38,276,000 $ 41,819,000  
Adjustments to reconcile net income to net cash provided by operating activities:          
Depreciation expense 1,278,000 1,132,000 2,450,000 2,238,000  
Amortization of core deposit and other intangibles 1,254,000 802,000 1,983,000 1,655,000  
Capitalization of mortgage servicing rights     (19,932,000) (29,814,000)  
Net change in fair value of mortgage servicing rights 8,863,000 15,000 13,221,000 (3,528,000)  
Stock-based compensation expense     3,785,000 3,819,000  
Provision for loan losses 881,000 1,063,000 2,272,000 1,380,000  
Provision for mortgage loan repurchases 89,000 206,000 148,000 392,000  
Accretion of yield on purchased loans     (3,928,000) (3,615,000)  
Accretion of discounts and amortization of premiums on securities, net     1,296,000 1,378,000  
(Gain) loss from securities, net (52,000) 42,000 (95,000) 89,000  
Originations of loans held for sale     (2,240,059,000) (3,287,255,000)  
Repurchases of loans held for sale     (9,670,000) (3,222,000)  
Proceeds from sale of loans held for sale     2,269,654,000 3,441,316,000  
Gain on sale and change in fair value of loans held for sale     (42,425,000) (48,109,000)  
Net (gain) loss or write-downs of other real estate owned (277,000) (23,000) (238,000) 163,000  
(Gain) loss on other assets 183,000 155,000 (8,000) 87,000  
Impairment of goodwill     100,000 0  
Provision for deferred income taxes (232,000) 5,599,000 (4,451,000) 11,081,000  
Changes in:          
Other assets and interest receivable     (39,331,000) (8,435,000)  
Accrued expenses and other liabilities     13,803,000 (42,630,000)  
Net cash (used in) provided by operating activities     (13,149,000) 78,809,000  
Activity in available-for-sale securities:          
Sales 0 0 1,758,000 221,000  
Maturities, prepayments and calls 29,353,000 18,005,000 50,167,000 34,508,000  
Purchases     (54,218,000) (121,108,000)  
Purchases of FHLB stock     (2,544,000) (1,229,000)  
Net increase in loans     (239,425,000) (239,188,000)  
Proceeds from sale of mortgage servicing rights     29,160,000 0  
Purchases of premises and equipment     (1,011,000) (6,597,000)  
Proceeds from the sale of premises and equipment     290,000 0  
Proceeds from the sale of other real estate owned     1,864,000 2,209,000  
Net cash received in business combination     171,032,000   $ 0
Net cash used in investing activities     (42,927,000) (331,184,000)  
Cash flows from financing activities:          
Net increase in demand deposits     71,898,000 203,688,000  
Net increase in time deposits     10,334,000 41,780,000  
Net increase in securities sold under agreements to repurchase and federal funds purchased     16,716,000 4,225,000  
Net increase (decrease) in FHLB advances     3,235,000 (8,927,000)  
Share based compensation witholding obligation     (2,510,000) (2,555,000)  
Net proceeds from sale of common stock     364,000 669,000  
Dividends paid     (4,981,000) (1,839,000)  
Net cash provided by financing activities     95,056,000 237,041,000  
Net change in cash and cash equivalents     38,980,000 (15,334,000)  
Cash and cash equivalents at beginning of the period     125,356,000 119,751,000 119,751,000
Cash and cash equivalents at end of the period 164,336,000 104,417,000 164,336,000 104,417,000 125,356,000
Supplemental cash flow information:          
Interest paid     23,869,000 13,269,000  
Taxes paid     12,823,000 19,112,000  
Supplemental noncash disclosures:          
Transfers from loans to other real estate owned 924,000 384,000 2,030,000 1,014,000  
Transfers from premises and equipment to other real estate owned 2,640,000 0 2,640,000 0  
Loans provided for sales of other real estate owned 0 325,000 166,000 445,000  
Transfers from loans to loans held for sale     116,000 5,504,000  
Transfers from loans held for sale to loans     6,732,000   $ 0
Trade date payable - securities     1,089,000 0  
Trade date receivable - securities     86,000 0  
Dividends declared not paid on restricted stock units $ 119,000 $ 70,000 119,000 70,000  
Decrease to retained earnings for adoption of new accounting standards     1,309,000 109,000  
Right-of-use assets obtained in exchange for operating lease liabilities     38,249,000 0  
GNMA          
Supplemental noncash disclosures:          
Derecognition of rebooked GNMA delinquent loans     $ 0 $ 43,035,000  
v3.19.2
Basis of presentation
 6 Months Ended
Jun. 30, 2019
Accounting Policies [Abstract]  
Basis of presentation
Basis of presentation:
(Amounts are in thousands)
Overview and presentation
FB Financial Corporation (the “Company”) is a bank holding company headquartered in Nashville, Tennessee. The Company operates through its wholly-owned subsidiary, FirstBank (the "Bank"), with 65 full-service branches throughout Tennessee, north Alabama, and north Georgia, and a national mortgage business with office locations across the Southeast, which primarily originates loans to be sold in the secondary market.
The unaudited consolidated financial statements, including the notes thereto of the Company, have been prepared in accordance with United States generally accepted accounting principles (“GAAP”) interim reporting requirements and general banking industry guidelines, and therefore, do not include all information and notes included in the annual consolidated financial statements in conformity with GAAP. These interim consolidated financial statements and notes thereto should be read in conjunction with the Company’s audited consolidated financial statements and accompanying notes included in the Company’s Annual Report on Form 10-K.
The unaudited consolidated financial statements include all adjustments, consisting of normal recurring adjustments, necessary for a fair presentation of the results for the interim periods. The results for interim periods are not necessarily indicative of results for a full year.
In preparing the financial statements, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the balance sheet and the reported results of operations for the periods then ended. Actual results could differ significantly from those estimates.
Certain prior period amounts have been reclassified to conform to the current period presentation without any impact on the reported amounts of net income or shareholders’ equity.
Prior to May 31, 2018, the Company was considered a "controlled company" and was controlled by the Company's Executive Chairman and former majority shareholder, James W. Ayers. During the second quarter of 2018, the Company completed a secondary offering of 3,680,000 shares of common stock pursuant to the Company's effective registration statement on Form S-3 whereby James W. Ayers was the seller. As a result of this transaction, the Company ceased to qualify as a "controlled company" as the selling shareholder's ownership was reduced below 50% of the voting power of the Company's issued and outstanding shares of common stock. The Company continues to qualify as an emerging growth company as defined by the "Jumpstart Our Business Startups Act" ("JOBS Act").
Subsequent events
The Company has evaluated, for consideration of recognition or disclosure, subsequent events that occurred through the date of issuance of these financial statements. The Company has determined that there were no other subsequent events other than described below that occurred after June 30, 2019, but prior to the issuance of these financial statements that would have a material impact on the Company’s consolidated financial statements.
On August 1, 2019, the Company completed its previously-announced sale of its correspondent mortgage delivery channel. The unrelated third party assumed substantially all of the assets and personnel related to the channel upon execution of the agreement. Along with the sale of the third party origination ("TPO") channel, which closed on June 7, 2019, this completes the mortgage restructuring.
On July 19, 2019, the Company declared a regular quarterly dividend of $0.08 per share to be paid on August 16, 2019 to shareholders of record as of August 1, 2019, totaling approximately $2,555.
Earnings per share
Basic earnings per common share ("EPS") excludes dilution and is computed by dividing earnings attributable to common shareholders by the weighted average number of common shares outstanding during the period. Diluted EPS includes the dilutive effect of additional potential common shares issuable under the restricted stock units granted but not yet vested and distributable. Diluted EPS is computed by dividing earnings attributable to common shareholders by the weighted average number of common shares outstanding for the period, plus an incremental number of common-equivalent shares computed using the treasury stock method.
Unvested share-based payment awards, which include the right to receive non-forfeitable dividends or dividend equivalents, are considered to participate with common shareholders in undistributed earnings for purposes of computing EPS. Companies that have such participating securities, including the Company, are required to calculate basic and diluted EPS using the two-class method. Certain restricted stock awards granted by the Company include non-forfeitable dividend equivalents and are considered participating securities. Calculations of EPS under the two-class method (i) exclude from the numerator any dividends paid or owed on participating securities and any undistributed earnings considered to be attributable to participating securities and (ii) exclude from the denominator the dilutive impact of the participating securities.
The following is a summary of the basic and diluted earnings per common share calculation for each of the periods presented:
 
 
Three Months Ended June 30,
 
 
Six Months Ended June 30,
 
 
 
2019

 
2018

 
2019

 
2018

Basic earnings per common share calculation:
 
 
 
 
 
 
 
 
Net income
 
$
18,688

 
$
22,065

 
$
38,276

 
$
41,819

Dividends paid on and undistributed earnings allocated to
participating securities
 
(100
)
 
(117
)
 
(205
)
 
(223
)
Earnings attributable to common shareholders
 
$
18,588

 
$
21,948

 
$
38,071

 
$
41,596

Weighted-average basic shares outstanding
 
30,859,596

 
30,678,732

 
30,823,341

 
30,646,189

Basic earnings per common share
 
$
0.60

 
$
0.72

 
$
1.24

 
$
1.36

Diluted earnings per common share:
 


 


 
 
 
 
Earnings attributable to common shareholders
 
18,588

 
21,948

 
38,071

 
41,596

Weighted-average basic shares outstanding
 
30,859,596

 
30,678,732

 
30,823,341

 
30,646,189

Weighted-average diluted shares contingently issuable
 
518,422

 
615,312

 
525,625

 
629,657

Weighted-average diluted shares outstanding
 
31,378,018

 
31,294,044

 
31,348,966

 
31,275,846

Diluted earnings per common share
 
$
0.59

 
$
0.70

 
$
1.21

 
$
1.33


Recently adopted accounting policies:
Except as set forth below, the Company did not adopt any new accounting policies that were not disclosed in the Company's 2018 audited consolidated financial statements included on Form 10-K.
Leases
The Company leases certain banking, mortgage and operations locations. Effective January 1, 2019, the Company records leases on the balance sheet in the form of a lease liability for the present value of future minimum payments under the lease terms and a right-of-use asset equal to the lease liability adjusted for items such as deferred or prepaid rent, incentive liabilities, leasehold intangibles and any impairment of the right-of-use asset. In determining whether a contract contains a lease, management conducts an analysis at lease inception to ensure an asset was specifically identified and the Company has control of use of the asset. For contracts determined to be leases entered into after January 1, 2019, the Company performs additional analysis to determine whether the lease should be classified as a finance or operating lease. The Company considers a lease to be a finance lease if future minimum lease payments amount to greater than 90% of the asset's fair value or if the lease term is equal to or greater than 75% of the asset's estimated economic useful life. As of June 30, 2019, the Company did not have any leases that were determined to be finance leases. The Company does not record leases on the consolidated balance sheets that are classified as short term (less than one year). Additionally, the Company has not recorded equipment leases or leases in which the Company is the lessor on the consolidated balance sheets as these are not material to the Company.
At lease inception, the Company determines the lease term by adding together the minimum lease term and all optional renewal periods that it is reasonably certain to renew. This determination is at management's full discretion and is made through consideration of the asset, market conditions, competition and entity based economic conditions, among other factors. The lease term is used in the economic life test and also to calculate straight-line rent expense. The depreciable life of leasehold improvements is limited by the estimated lease term, including renewals.
Operating leases are expensed on a straight-line basis over the life of the lease beginning when the lease commences. Rent expense and variable lease expense are included in occupancy and equipment expense on the Company's Consolidated statements of income. The Company's variable lease expense include rent escalators that are based on the Consumer Price Index or market conditions and include items such as common area maintenance, utilities, parking, property taxes, insurance and other costs associated with the lease.
There are no residual value guarantees or restrictions or covenants imposed by leases that will impact the Company's ability to pay dividends or cause the Company to incur additional expenses. The discount rate used in determining the lease liability is based upon borrowing rates for what would be obtained by the Company for similar loans as an incremental rate as of the date of commencement or renewal.
Recently adopted accounting principles:
Except as set forth below, the Company did not adopt any new accounting principles that were not disclosed in the Company's 2018 audited consolidated financial statements included on Form 10-K.
In February 2016, the FASB issued ASU 2016-02, “Leases (Topic 842).” The update requires lessees to recognize right-of-use assets and lease liabilities for all leases not considered short term leases. The provisions of the update also include (a) defining direct costs to only include those incremental costs that would not have been incurred if the lease had not been entered into, (b) circumstances under which the transfer contract in a sale-leaseback transaction should be accounted for as the sale of an asset by the seller-lessee and the purchase of an asset by the buyer-lessor, and (c) additional disclosure requirements. The provisions of this update became effective for the Company on January 1, 2019.
In July 2018, the FASB issued ASU 2018-10, “Codification Improvements to Topic 842, Leases” and 2018-11, “Leases (Topic 842): Targeted Improvements”. ASU No. 2018-10 provides improvements related to ASU No. 2016-02 to provide corrections or improvements to a number of areas within FASB ASC Topic 842 and provides additional and optional transition method to adopt the new lease standard. ASU No. 2018-11 allows entities to initially apply the new lease standard at the adoption date and recognize a cumulative-effect adjustment to the opening balance of retained earnings in the period of adoption. ASU 2018-11 also allows lessors to not separate non-lease components from the associated lease component if certain conditions are met. The amendments in these updates became effective for the Company on January 1, 2019.
FB Financial Corporation elected the optional transition method permitted by ASU 2018-11. Under this method, an entity shall recognize and measure leases that exist at the application date and prior comparative periods are not adjusted. Additionally, the Company elected to adopt the practical expedients allowed under the updates and therefore did not reassess 1) whether any expired or existing contract contain leases, 2) the lease classification for any expired or existing leases, or 3) initial direct costs for any existing leases.
On January 1, 2019, the Company adopted these updates and recognized a right of use asset ("ROU") and lease liability of $32,545 and $34,876, respectively, and recorded a cumulative effect adjustment to retained earnings of $1,309, net of deferred taxes of $461, in addition to adjustments to leasehold improvements of $1,022 and a reclassification from a previously-recognized lease intangible asset for $460. The difference between the asset and liability amounts represents lease incentive liabilities, deferred rent and a lease intangible asset that was reclassified to the ROU asset upon adoption. This adoption did not have a significant impact on the Company's consolidated statements of income and did not have an impact on the Company's cash flows. Disclosures required by the update are presented in Note 7, "Leases" in the notes to the consolidated financial statements.
In March 2017, the FASB issued ASU 2017-08, “Receivables - Nonrefundable Fees and Other Costs (Subtopic 310-20): Premium Amortization on Purchased Callable Debt Securities." The amendments in this ASU shorten the amortization period for certain callable debt securities held at a premium. Specifically, the amendments require the premium to be amortized to the earliest call date. The amendments do not require an accounting change for securities held at a discount, which continue to be amortized to maturity. Public business entities were required to prospectively apply the amendments in this ASU to annual periods beginning after December 15, 2018, including interim periods. The adoption of this update did not have an impact on the Company's consolidated financial statements.
Newly issued not yet effective accounting standards:
In June 2016, the FASB issued ASU 2016-13, “Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments.” ASU 2016-13 requires the measurement of all expected credit losses for financial assets held at the reporting date based on historical experience, current conditions, and reasonable and supportable forecasts and requires enhanced disclosures related to the significant estimates and judgments used in estimating credit losses, as well as the credit quality and underwriting standards of an organization’s portfolio. The new model will require institutions to calculate all probable and estimable losses that are expected to be incurred through the financial asset's entire life through a provision for credit losses, including loans obtained as a result of any acquisition not deemed to be purchased credit deteriorated (PCD).
CECL also requires the allowance for credit losses for PCD loans to be determined in a manner similar to that of other financial assets measured at amortized cost; however, the initial allowance will be added to the purchase price rather than recorded as provision expense. The disclosure of credit quality indicators related to the amortized cost of financing receivables will be further disaggregated by year of origination (or vintage). Institutions are to apply the changes through a cumulative-effect adjustment to their retained earnings as of the beginning of the first reporting period in which the standard is effective.
ASU 2016-13 will become effective for interim and annual periods beginning after December 15, 2019.  Management established a CECL implementation working group, which includes the appropriate members of management to evaluate the impact the adoption of this ASU will have on the Company's financial statements and disclosures and determine the most appropriate method of implementing the amendments in this ASU. The working group selected a software vendor and is working on validating the accuracy and completeness of data being used as inputs into the model based on the methodology selected for the Company's identified loan segments. During remainder of 2019, the Company is focused on refining modeling segments and assumptions in addition to finalizing and documenting internal controls and accounting and credit policy elections, building disclosures, and model validation. Parallel processing of our existing allowance for loan losses model with the CECL model will occur during the second half of 2019, depending on how model completion and validation progresses. The Company is currently evaluating the impact of this adoption on its financial statements and disclosures and currently expects to record a one-time adjustment to retained earnings to increase the allowance for loan losses, however the magnitude of this adjustment cannot currently be reasonably quantified. Management will disclose the impact on Form 10-K for the year ended December 31, 2019.
In December 2018, the OCC, the Board of Governors of the Federal Reserve System, and the FDIC approved a final rule to address changes to credit loss accounting under GAAP, including banking organizations’ implementation of CECL. The final rule provides banking organizations the option to phase in over a three-year period the day-one adverse effects on regulatory capital that may result from the adoption of the new accounting standard.
In January 2017, the FASB issued ASU 2017-04, “Intangibles – Goodwill and Other (Topic 350) – Simplifying the Test for Goodwill Impairment.” ASU 2017-04 eliminates step two from the goodwill impairment test. Instead, an entity will perform only step one of its quantitative goodwill impairment test by comparing the fair value of a reporting unit with its carrying amount, and then recognizing an impairment charge for the amount by which the carrying amount exceeds the reporting unit's fair value; however, the loss recognized should not exceed the total amount of goodwill allocated to that reporting unit. An entity will still have the option to perform a qualitative assessment for a reporting unit to determine if the quantitative step one impairment test is necessary. ASU 2017-04 will become effective for interim and annual periods beginning after December 15, 2019. Early adoption is permitted, including in an interim period, for impairment tests performed after January 1, 2017. Management does not expect adoption of this standard to have any impact on the Company's consolidated financial statements or disclosures.
In June 2018, FASB issued ASU 2018-07, "Compensation-Stock Compensation (Topic 718): Improvements to Nonemployee Share-Based Payment Accounting", which expands the scope of Topic 718 to include share-based payment transactions for acquiring goods and services from nonemployees. Consistent with the accounting for employee share-based payment awards, nonemployee share-based payment awards will be measured at grant-date fair value of the equity instruments obligated to be issued when the good has been delivered or the service rendered and any other conditions necessary to earn the right to benefit from the instruments have been satisfied. This ASU is effective for all entities for fiscal years beginnings after December 15, 2019, and interim periods within fiscal years beginning after December 15, 2020. Early adoption is permitted. The Company does not expect adoption of this standard to have a significant impact on the consolidated financial statements or disclosures.
In August 2018, the FASB issued "Accounting Standards Update 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework - Changes to the Disclosure Requirements for Fair Value Measurements." This update is part of the disclosure framework project and eliminates certain disclosure requirements for fair value measurements, requires entities to disclose new information, and modifies existing disclosure requirements. The new disclosure guidance is effective for fiscal years beginning after December 15, 2019. Early adoption is permitted. The Company is currently evaluating the impact this change will have on its consolidated financial statements and disclosures.
In March 2019, FASB issued ASU 2019-01, "Leases (Topic 842): Codification Improvements", which align the guidance for fair value of the underlying assets by lessors that are not manufacturers or dealers in Topic 842 with that of existing guidance. As a result, the fair value of the underlying asset at lease commencement is its cost, reflecting any volume or trade discounts that may apply.
However, if there has been a significant lapse of time between when the underlying asset is acquired and when the lease commences, the definition of fair value in Topic 820, Fair Value Measurement should be applied. ASU No. 2019-01 also requires lessors within the scope of Topic 942, "Financial Services—Depository and Lending", to present all “principal payments received under leases” within investing activities. The amendments in this update become effective for fiscal years beginning after December 15, 2019. Early adoption is permitted. The Company is currently evaluating the impact of this change on its consolidated financial statements and disclosures, but it is not expected to have a material impact.
In April 2019, the FASB issued ASU No. 2019-04, "Financial Instruments—Credit Losses (Topic 326), Derivatives and Hedging (Topic 815), and Financial Instruments (Topic 825): Codification Improvements"  The amendments related to Topic 326 address accrued interest, transfers between classifications or categories for loans and debt securities, recoveries, vintage disclosures, and contractual extensions and renewal options and will become effective for annual periods and interim periods within those annual periods beginning after December 15, 2019.  The improvements and clarifications related to Topic 815 address partial-term fair value hedges of interest-rate risk, amortization, and disclosure of fair value hedge basis adjustments and consideration of hedged contractually specified interest rate under the hypothetical method and will become effective for the annual reporting period beginning January 1, 2020.  The amendments related to Topic 825 contain various improvements to ASU 2016-01, including scope; held-to-maturity debt securities fair value disclosures; and remeasurement of equity securities at historical exchange rates and will become effective for fiscal years and interim periods beginning after December 15, 2019.  The Company is currently evaluating the impact of adopting the new guidance on the consolidated financial statements, but it is not expected to have a material impact.
In May 2019, the FASB issued ASU No. 2019-05, "Financial Instruments—Credit Losses (Topic 326): Targeted Transition Relief."  These amendments provide targeted transition relief allowing entities to irrevocably elect the fair value option, on an instrument-by-instrument basis, for certain financial assets (excluding held-to-maturity debt securities) previously measured at amortized cost.  The amendments in this update become effective for annual periods and interim periods within those annual periods beginning after December 15, 2019.  The Company is currently evaluating the impact of adopting the new guidance on the consolidated financial statements, but it is not expected to have a material impact.
v3.19.2
Mergers and acquisitions
 6 Months Ended
Jun. 30, 2019
Business Combinations [Abstract]  
Mergers and acquisitions
Mergers and acquisitions:
Atlantic Capital Bank branch acquisition
On April 5, 2019, the Bank completed its previously-announced branch acquisition to purchase 11 Tennessee and three Georgia branch locations (the "Branches") from Atlantic Capital Bank, N.A., a national banking association and a wholly owned subsidiary of Atlantic Capital Bancshares, Inc. (collectively, “Atlantic Capital”) in a transaction valued at $36,790, further increasing market share in existing markets and expanding the Company's footprint to into new locations. Upon consummation, the Branches were merged with and into FirstBank, consolidating three of the purchased branches across the existing bank footprint. Under the terms of the agreement, the Bank assumed $588,877 in deposits at a premium of 6.25% and acquired $374,966 in loans at 99.32% of principal outstanding.
The acquisition of the Branches was accounted for in accordance with FASB ASC Topic 805 "Business Combinations." Accordingly, the assets and liabilities, both tangible and intangible, were recorded at their estimated fair values as of the acquisition date. The Company is finalizing the fair value of acquired assets and liabilities assumed and as such, purchase accounting is not yet complete.
Goodwill of $31,396 recorded in connection with the transaction resulted primarily from the purchased deposit premium and has been assigned to the Banking segment.
The Company incurred $3,783 and $4,404 in merger expenses during the three and six months ended June 30, 2019, respectively, in connection with this transaction.
The following tables present the preliminary fair values of assets acquired and liabilities assumed as of the April 5, 2019 acquisition date and an allocation of the consideration to net assets acquired:
 
 
As of April 5, 2019

 
 
As Recorded by FB Financial Corporation (1)

Assets
 
 
Cash and cash equivalents(1)
 
$
207,822

Loans, net of fair value adjustments
 
374,966

Premises and equipment
 
9,650

Operating lease right-of-use assets
 
4,133

Core deposit intangible
 
10,760

Accrued interest and other assets
 
1,271

Total assets
 
$
608,602

Liabilities
 
 
Deposits
 
 
Noninterest-bearing
 
$
118,405

Interest-bearing checking
 
112,225

Money markey and savings
 
211,135

Customer time deposits
 
147,112

Total deposits
 
588,877

Customer repurchase agreements
 
9,572

Operating lease liabilities
 
4,133

Accrued expenses and other liabilities
 
626

Total liabilities
 
603,208

Total net assets acquired
 
$
5,394


(1) Cash and cash equivalents were reduced in settlement by the deposit premium of $36,790 to reflect net cash received of $171,032.
Consideration:
 
 
Deposit premium
 
$
36,790

Preliminary allocation of consideration:
 
 
Fair value of net assets acquired
 
$
5,394

Goodwill (preliminary)
 
31,396

Total consideration
 
$
36,790



The following table presents the fair value of acquired purchased credit impaired loans accounted for in accordance with FASB ASC 310-30 "Loans and Debt Securities Acquired with Deteriorated Credit Quality" from the Atlantic Capital branch acquisition as of the acquisition date:
 
 
April 5, 2019

Contractually-required principal and interest
 
$
11,374

Nonaccretable difference
 
1,615

Best estimate of contractual cash flows expected to be collected
 
9,759

Accretable yield
 
1,167

Fair value
 
$
8,592



The following unaudited pro forma condensed consolidated financial information presents the results of operations for the three and six months ended June 30, 2018 and 2019 as though the merger had been completed as of January 1, 2018. The unaudited estimated pro forma information combines the historical results of the Branches with the Company’s historical consolidated results and includes certain adjustments reflecting the estimated impact of certain fair value adjustments for the periods presented. Merger expenses are reflected in the periods they were incurred. The pro forma information is not indicative of what would have occurred had the acquisition taken place on January 1, 2018 and does not include the effect of all cost-saving or revenue-enhancing strategies.
 
 
Three months ended June 30,
 
 
Six months ended June 30,
 
 
 
2019

 
2018

 
2019

 
2018

Net interest income
 
$
57,023

 
$
55,609

 
$
113,610

 
$
108,687

Total revenues
 
$
90,002

 
$
92,237

 
$
176,413

 
$
179,411

Net income
 
$
18,688

 
$
21,843

 
$
37,191

 
$
41,474


Due to the timing of the data conversion and the integration of operations of the Branches onto the Company's existing operations, historical reporting of the acquired Branches is impracticable, and therefore, disclosure of the amounts of revenue and expenses from the acquired Branches since the acquisition date are not available.
v3.19.2
Investment securities
 6 Months Ended
Jun. 30, 2019
Investments, Debt and Equity Securities [Abstract]  
Investment securities
Investment securities:
The amortized cost of securities and their fair values at June 30, 2019 and December 31, 2018 are shown below: 
 
 
June 30, 2019
 
 
 
Amortized cost

 
Gross unrealized gains

 
Gross unrealized losses

 
Fair Value

Investment Securities
 
 
 
 
 
 
 
 
Available-for-sale debt securities
 
 
 
 
 
 
 
 
U.S. government agency securities
 
$
1,000

 
$
—

 
$
(4
)
 
$
996

Mortgage-backed securities - residential
 
516,458

 
4,786

 
(3,739
)
 
517,505

Municipals, tax exempt
 
143,049

 
6,319

 
(63
)
 
149,305

Treasury securities
 
7,405

 
4

 
—

 
7,409

Total
 
$
667,912

 
$
11,109

 
$
(3,806
)
 
$
675,215

 
 
December 31, 2018
 
 
 
Amortized cost

 
Gross unrealized gains

 
Gross unrealized losses

 
Fair Value

Investment Securities
 
 
 
 
 
 
 
 
Available-for-sale debt securities
 
 
 
 
 
 
 
 
U.S. government agency securities
 
$
1,000

 
$
—

 
$
(11
)
 
$
989

Mortgage-backed securities - residential
 
520,654

 
1,191

 
(13,265
)
 
508,580

Municipals, tax exempt
 
138,994

 
1,565

 
(1,672
)
 
138,887

Treasury securities
 
7,385

 
—

 
(143
)
 
7,242

Total
 
$
668,033

 
$
2,756

 
$
(15,091
)
 
$
655,698


As of June 30, 2019 and December 31, 2018, the Company had $3,242 and $3,107 in marketable equity securities recorded at fair value, respectively.
Securities pledged at June 30, 2019 and December 31, 2018 had carrying amounts of $293,876 and $326,215, respectively, and were pledged to secure a Federal Reserve Bank line of credit, public deposits and repurchase agreements.
There were no holdings of securities of any one issuer, other than the U.S. Government and its agencies, in an amount greater than 10% of shareholders' equity during any period presented.
At June 30, 2019 and December 31, 2018, there were $1,089 and $2,120, respectively, in trade date payables and $86 and $0, respectively, in trade date receivables that related to purchases and sales settled after period end.
 
The amortized cost and fair value of debt securities by contractual maturity at June 30, 2019 and December 31, 2018 are shown below. Maturities may differ from contractual maturities in mortgage-backed securities because the mortgage underlying the security may be called or repaid without any penalties. Therefore, mortgage-backed securities are not included in the maturity categories in the following maturity summary.
 
 
June 30, 2019
 
 
December 31, 2018
 
 
 
Available-for-sale
 
 
Available-for-sale
 
 
 
Amortized cost

 
Fair value

 
Amortized cost

 
Fair value

Due in one year or less
 
$
6,436

 
$
6,474

 
$
15,883

 
$
16,028

Due in one to five years
 
13,504

 
13,632

 
13,806

 
13,740

Due in five to ten years
 
15,948

 
16,404

 
18,539

 
18,387

Due in over ten years
 
115,566

 
121,200

 
99,151

 
98,963

 
 
151,454

 
157,710

 
147,379

 
147,118

Mortgage-backed securities - residential
 
516,458

 
517,505

 
520,654

 
508,580

Total debt securities
 
$
667,912

 
$
675,215

 
$
668,033

 
$
655,698


Sales and other dispositions of available-for-sale securities were as follows:
 
Three Months Ended June 30,
 
Six Months Ended June 30,
 
 
2019

 
2018

 
2019

 
2018

Proceeds from sales
$
—

 
$
—

 
$
1,758

 
$
221

Proceeds from maturities, prepayments and calls
29,353

 
18,005

 
50,167

 
34,508

Gross realized gains
5

 
1

 
6

 
1

Gross realized losses
—

 
—

 
7

 
9


Additionally, net gains on the change in fair value of equity securities of $47 and $96 were recognized during the three and six months ended June 30, 2019, respectively. Net losses on the change in fair value of equity securities of $43 and $81 were recognized in the three and six months ended June 30, 2018, respectively.
The following tables show gross unrealized losses at June 30, 2019 and December 31, 2018, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position:
 
 
 
June 30, 2019
 
 
 
Less than 12 months
 
 
12 months or more
 
 
Total
 
 
 
Fair Value

 
Unrealized Loss

 
Fair Value

 
Unrealized Loss

 
Fair Value

 
Unrealized loss

U.S. government agency securities
 
$
—

 
$
—

 
$
996

 
$
(4
)
 
$
996

 
$
(4
)
Mortgage-backed securities - residential
 
14,291

 
(30
)
 
267,587

 
(3,709
)
 
281,878

 
(3,739
)
Municipals, tax exempt
 
1,057

 
(1
)
 
7,407

 
(62
)
 
8,464

 
(63
)
Treasury securities
 
—

 
—

 
—

 
—

 
—

 
—

Total
 
$
15,348

 
$
(31
)
 
$
275,990

 
$
(3,775
)
 
$
291,338

 
$
(3,806
)
 
 
December 31, 2018
 
 
 
Less than 12 months
 
 
12 months or more
 
 
Total
 
 
 
Fair Value

 
Unrealized Loss

 
Fair Value

 
Unrealized Loss

 
Fair Value

 
Unrealized loss

U.S. government agency securities
 
$
—

 
$
—

 
$
989

 
$
(11
)
 
$
989

 
$
(11
)
Mortgage-backed securities - residential
 
60,347

 
(478
)
 
335,769

 
(12,787
)
 
396,116

 
(13,265
)
Municipals, tax exempt
 
27,511

 
(366
)
 
25,343

 
(1,306
)
 
52,854

 
(1,672
)
Treasury securities
 
—

 
—

 
7,242

 
(143
)
 
7,242

 
(143
)
Total
 
$
87,858

 
$
(844
)
 
$
369,343

 
$
(14,247
)
 
$
457,201

 
$
(15,091
)

As of June 30, 2019 and December 31, 2018, the Company’s securities portfolio consisted of 346 and 360 securities, 69 and 174 of which were in an unrealized loss position, respectively.
The Company evaluates available-for-sale debt securities with unrealized losses for other-than-temporary impairment (OTTI) on a quarterly basis and recorded no OTTI for the three and six months ended June 30, 2019 and 2018. The Company considers an investment security impaired if the fair value of the security is less than its cost or amortized cost basis. For debt securities, the unrealized losses associated with these investment securities are primarily driven by interest rates and are not due to the credit quality of the securities. The Company currently does not intend to sell those investments with unrealized losses, and it is unlikely that the Company will be required to sell the investments before recovery of their amortized cost basis, which may be maturity.
v3.19.2
Loans and Allowance for Loan Losses
 6 Months Ended
Jun. 30, 2019
Receivables [Abstract]  
Loans and allowance for loan losses
Loans and allowance for loan losses:
Loans outstanding at June 30, 2019 and December 31, 2018, by major lending classification are as follows:
 
 
June 30,

 
December 31,

 
 
2019

 
2018

Commercial and industrial
 
$
989,288

 
$
867,083

Construction
 
525,954

 
556,051

Residential real estate:
 
 
 
 
1-to-4 family mortgage
 
688,984

 
555,815

Residential line of credit
 
218,006

 
190,480

Multi-family mortgage
 
82,945

 
75,457

Commercial real estate:
 
 
 
 
Owner occupied
 
602,723

 
493,524

Non-owner occupied
 
922,150

 
700,248

Consumer and other
 
259,466

 
228,853

Gross loans
 
4,289,516

 
3,667,511

Less: Allowance for loan losses
 
(30,138
)
 
(28,932
)
Net loans
 
$
4,259,378

 
$
3,638,579


As of June 30, 2019 and December 31, 2018, $573,213 and $618,976, respectively, of qualifying residential mortgage loans (including loans held for sale) and $474,237 and $608,735, respectively, of qualifying commercial mortgage loans were pledged to the Federal Home Loan Bank of Cincinnati securing advances against the Bank’s line of credit. As of June 30, 2019 and December 31, 2018, $1,423,565 and $1,336,092, respectively, of qualifying loans were pledged to the Federal Reserve Bank under the Borrower-in-Custody program.
As of June 30, 2019 and December 31, 2018, the carrying value of purchased credit impaired loans (“PCI”) loans accounted for under ASC 310-30 "Loans and Debt Securities Acquired with Deteriorated Credit Quality", were $67,450 and $68,999, respectively. The following table presents changes in the value of the accretable yield for PCI loans for the periods indicated.
 
 
Three Months Ended June 30,
 
 
Six Months Ended June 30,
 
 
 
2019

 
2018

 
2019

 
2018

Balance at the beginning of period
 
$
(14,814
)
 
$
(16,955
)
 
$
(16,587
)
 
$
(17,682
)
Additions through the branch acquisition of Atlantic Capital Bank
 
(1,167
)
 
—

 
(1,167
)
 
—

Principal reductions and other reclassifications from nonaccretable difference
 
30

 
(2,158
)
 
250

 
(3,452
)
Accretion
 
1,705

 
2,639

 
3,888

 
4,840

Changes in expected cash flows
 
(616
)
 
(3,695
)
 
(1,246
)
 
(3,875
)
Balance at end of period
 
$
(14,862
)
 
$
(20,169
)
 
$
(14,862
)
 
$
(20,169
)

Included in the ending balance of the accretable yield on PCI loans at June 30, 2019 and December 31, 2018, is a purchase accounting liquidity discount of $1,605 and $2,436, respectively. There is also a purchase accounting nonaccretable credit discount of $4,596 and $4,355 related to the PCI loan portfolio at June 30, 2019 and December 31,2018, respectively and an accretable credit and liquidity discount on non-PCI loans of $11,064 and $4,740 as of June 30, 2019 and $7,527 and $2,197, respectively, as of December 31, 2018.
Interest revenue, through accretion of the difference between the recorded investment of the loans and the expected cash flows, is being recognized on all PCI loans. Accretion of interest income on PCI loans amounted to $1,705 and $3,888 during the three and six months ended June 30, 2019, respectively, and $2,639 and $4,840 during the three and six months ended June 30, 2018, respectively. This includes both the contractual interest income recognized and the purchase accounting contribution through accretion of the liquidity discount for changes in estimated cash flows. The total purchase accounting contribution through accretion excluding contractual interest collected for all purchased loans was $2,097 and $3,928 for the three and six months ended June 30, 2019, respectively, and $1,928 and $3,615 for the three and six months ended June 30, 2018, respectively.
The following provides the allowance for loan losses by portfolio segment and the related investment in loans net of unearned interest for the three and six months ended June 30, 2019 and 2018:
 
 
Commercial
and industrial

 
Construction

 
1-to-4
family
residential
mortgage

 
Residential
line of credit

 
Multi-
family
residential
mortgage

 
Commercial
real estate
owner
occupied

 
Commercial
real estate
non-owner occupied

 
Consumer
and other

 
Total

Three Months Ended June 30, 2019
Beginning balance -
March 31, 2019
 
$
5,514

 
$
9,758

 
$
3,295

 
$
731

 
$
539

 
$
3,098

 
$
4,583

 
$
2,296

 
$
29,814

Provision for loan losses
 
(550
)
 
(109
)
 
(30
)
 
106

 
78

 
409

 
(105
)
 
1,082

 
881

Recoveries of loans
previously charged-off
 
38

 
6

 
24

 
21

 
—

 
5

 
—

 
119

 
213

Loans charged off
 
(79
)
 
—

 
(1
)
 
(103
)
 
—

 
—

 
—

 
(587
)
 
(770
)
Ending balance -
June 30, 2019
 
$
4,923

 
$
9,655

 
$
3,288

 
$
755

 
$
617

 
$
3,512

 
$
4,478

 
$
2,910

 
$
30,138

Six Months Ended June 30, 2019
Beginning balance - December 31, 2018
 
$
5,348

 
$
9,729

 
$
3,428

 
$
811

 
$
566

 
$
3,132

 
$
4,149

 
$
1,769

 
$
28,932

Provision for loan losses
 
(217
)
 
(81
)
 
(95
)
 
33

 
51

 
288

 
329

 
1,964

 
2,272

Recoveries of loans previously charged-off
 
50

 
7

 
37

 
46

 
—

 
92

 
—

 
343

 
575

Loans charged off
 
(258
)
 
—

 
(82
)
 
(135
)
 
—

 
—

 
—

 
(1,166
)
 
(1,641
)
Ending balance - June 30, 2019
 
$
4,923

 
$
9,655

 
$
3,288

 
$
755

 
$
617

 
$
3,512

 
$
4,478

 
$
2,910

 
$
30,138

 
 
 
Commercial
and industrial

 
Construction

 
1-to-4
family
residential mortgage

 
Residential
line of credit

 
Multi-
family
residential mortgage

 
Commercial
real estate
owner
occupied

 
Commercial
real estate
non-owner occupied

 
Consumer
and other

 
Total

Three Months Ended June 30, 2018
Beginning balance -
March 31, 2018
 
$
4,578

 
$
7,866

 
$
3,122

 
$
1,165

 
$
449

 
$
3,014

 
$
2,753

 
$
1,459

 
$
24,406

Provision for loan losses
 
39

 
310

 
218

 
(414
)
 
(58
)
 
168

 
519

 
281

 
1,063

Recoveries of loans
previously charged-off
 
135

 
862

 
43

 
44

 
—

 
108

 
—

 
107

 
1,299

Loans charged off
 
(5
)
 
(15
)
 
(5
)
 
—

 
—

 
—

 
—

 
(396
)
 
(421
)
Ending balance -
June 30, 2018
 
$
4,747

 
$
9,023

 
$
3,378

 
$
795

 
$
391

 
$
3,290

 
$
3,272

 
$
1,451

 
$
26,347

Six Months Ended June 30, 2018
 

Beginning balance - December 31, 2017
 
$
4,461

 
$
7,135

 
$
3,197

 
$
944

 
$
434

 
$
3,558

 
$
2,817

 
$
1,495

 
$
24,041

Provision for loan losses
 
241

 
789

 
188

 
(200
)
 
(43
)
 
(399
)
 
404

 
400

 
1,380

Recoveries of loans previously charged-off
 
270

 
1,114

 
58

 
71

 
—

 
131

 
51

 
313

 
2,008

Loans charged off
 
(225
)
 
(15
)
 
(65
)
 
(20
)
 
—

 
—

 
—

 
(757
)
 
(1,082
)
Ending balance -
June 30, 2018
 
$
4,747

 
$
9,023

 
$
3,378

 
$
795

 
$
391

 
$
3,290

 
$
3,272

 
$
1,451

 
$
26,347

 
 
The following tables provides the allocation of the allowance for loan losses by loan category broken out between loans individually evaluated for impairment, loans collectively evaluated for impairment and loans acquired with deteriorated credit quality as of June 30, 2019 and December 31, 2018:
 
 
June 30, 2019
 
 
 
Commercial
and 
industrial

 
Construction

 
1-to-4
family
residential mortgage

 
Residential
line of credit

 
Multi-
family
residential mortgage

 
Commercial
real estate
owner
occupied

 
Commercial
real estate
non-owner occupied

 
Consumer
and other

 
Total

Amount of allowance allocated to:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Individually evaluated for impairment
 
$
11

 
$
—

 
$
15

 
$
—

 
$
—

 
$
38

 
$
299

 
$
338

 
$
701

Collectively evaluated for impairment
 
4,802

 
9,608

 
3,202

 
755

 
617

 
3,458

 
3,873

 
1,777

 
28,092

Acquired with deteriorated credit quality
 
110

 
47

 
71

 
—

 
—

 
16

 
306

 
795

 
1,345

Ending balance - June 30, 2019
 
$
4,923

 
$
9,655

 
$
3,288

 
$
755

 
$
617

 
$
3,512

 
$
4,478

 
$
2,910

 
$
30,138

 
 
December 31, 2018
 
 
 
Commercial
and 
industrial

 
Construction

 
1-to-4
family
residential mortgage

 
Residential
line of credit

 
Multi-
family
residential mortgage

 
Commercial
real estate
owner
occupied

 
Commercial
real estate
non-owner occupied

 
Consumer
and other

 
Total

Amount of allowance allocated to:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Individually evaluated for impairment
 
$
3

 
$
—

 
$
7

 
$
—

 
$
—

 
$
53

 
$
205

 
$
—

 
$
268

Collectively evaluated for impairment
 
5,247

 
9,677

 
3,205

 
811

 
566

 
3,066

 
3,628

 
1,583

 
27,783

Acquired with deteriorated credit quality
 
98

 
52

 
216

 
—

 
—

 
13

 
316

 
186

 
881

Ending balance - December 31, 2018
 
$
5,348

 
$
9,729

 
$
3,428

 
$
811

 
$
566

 
$
3,132

 
$
4,149

 
$
1,769

 
$
28,932

 
The following tables provides the amount of loans by loan category broken between loans individually evaluated for impairment, loans collectively evaluated for impairment and loans acquired with deteriorated credit quality as of June 30, 2019 and December 31, 2018:
 
 
June 30, 2019
 
 
 
Commercial
and 
 industrial

 
Construction

 
1-to-4
family
residential mortgage

 
Residential line of credit

 
Multi-
family
residential mortgage

 
Commercial
real estate
owner
occupied

 
Commercial
real estate
non-owner occupied

 
Consumer and other

 
Total

Loans, net of unearned income
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Individually evaluated for impairment
 
$
3,914

 
$
1,216

 
$
853

 
$
609

 
$
—

 
$
1,980

 
$
6,539

 
$
567

 
$
15,678

Collectively evaluated for impairment
 
983,542

 
520,062

 
665,730

 
217,323

 
82,945

 
594,120

 
902,221

 
240,445

 
4,206,388

Acquired with deteriorated credit quality
 
1,832

 
4,676

 
22,401

 
74

 
—

 
6,623

 
13,390

 
18,454

 
67,450

Ending balance - June 30, 2019
 
$
989,288

 
$
525,954

 
$
688,984

 
$
218,006

 
$
82,945

 
$
602,723

 
$
922,150

 
$
259,466

 
$
4,289,516

 
 
 
December 31, 2018
 
 
 
Commercial
and 
industrial

 
Construction

 
1-to-4
family
residential mortgage

 
Residential line of credit

 
Multi-
family
residential mortgage

 
Commercial
real estate
owner
occupied

 
Commercial
real estate
non-owner occupied

 
Consumer
and other

 
Total

Loans, net of unearned income
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Individually evaluated
for impairment
 
$
1,847

 
$
1,221

 
$
987

 
$
245

 
$
—

 
$
2,608

 
$
6,735

 
$
73

 
$
13,716

Collectively evaluated
for impairment
 
863,788

 
549,075

 
535,451

 
190,235

 
75,457

 
484,900

 
677,247

 
208,643

 
3,584,796

Acquired with deteriorated credit quality
 
1,448

 
5,755

 
19,377

 
—

 
—

 
6,016

 
16,266

 
20,137

 
68,999

Ending balance - December 31, 2018
 
$
867,083

 
$
556,051

 
$
555,815

 
$
190,480

 
$
75,457

 
$
493,524

 
$
700,248

 
$
228,853

 
$
3,667,511

The Company categorizes loans into risk categories based on relevant information about the ability of borrowers to service their debt such as: current financial information, historical payment experience, credit documentation, public information, and current economic trends, among other factors. The Company analyzes loans individually by classifying the loans as to credit risk. The Company uses the following definitions for risk ratings:
Watch.    Loans rated as watch includes loans in which management believes conditions have occurred, or may occur, which could result in the loan being downgraded to a worse rated category. Also included in watch are loans rated as special mention, which have a potential weakness that deserves management’s close attention. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for the loan or of the institution’s credit position at some future date.
Substandard.    Loans rated as substandard are inadequately protected by the current net worth and paying capacity of the obligor or of the collateral pledged, if any. Loans so rated have a well-defined weakness or weaknesses that jeopardize the liquidation of the debt. They are characterized by the distinct possibility that the institution will sustain some loss if the deficiencies are not corrected. Also included in this category are loans considered doubtful, which have all the weaknesses previously described and management believes those weaknesses may make collection or liquidation in full, on the basis of currently existing facts, conditions, and values, highly questionable and improbable.
Loans not meeting the criteria above are considered to be pass rated loans.
The following tables show credit quality indicators by portfolio class at June 30, 2019 and December 31, 2018:
June 30, 2019
 
Pass

 
Watch

 
Substandard

 
Total

Loans, excluding purchased credit impaired loans
 
 
 
 
 
 
 
 
Commercial and industrial
 
$
919,900

 
$
57,599

 
$
9,957

 
$
987,456

Construction
 
512,525

 
7,426

 
1,327

 
521,278

Residential real estate:
 
 
 
 
 
 
 
 
1-to-4 family mortgage
 
646,636

 
7,341

 
12,606

 
666,583

Residential line of credit
 
213,362

 
1,864

 
2,706

 
217,932

Multi-family mortgage
 
82,876

 
69

 
—

 
82,945

Commercial real estate:
 
 
 
 
 
 
 
 
Owner occupied
 
559,544

 
23,251

 
13,305

 
596,100

Non-owner occupied
 
890,293

 
11,418

 
7,049

 
908,760

Consumer and other
 
236,005

 
2,656

 
2,351

 
241,012

Total loans, excluding purchased credit impaired loans
 
$
4,061,141

 
$
111,624

 
$
49,301

 
$
4,222,066

Purchased credit impaired loans
 
 
 
 
 
 
 
 
Commercial and industrial
 
$
—

 
$
1,101

 
$
731

 
$
1,832

Construction
 
—

 
3,747

 
929

 
4,676

Residential real estate:
 
 
 
 
 
 
 
 
1-to-4 family mortgage
 
—

 
17,365

 
5,036

 
22,401

Residential line of credit
 
—

 
—

 
74

 
74

Multi-family mortgage
 
—

 
—

 
—

 
—

Commercial real estate:
 
 
 
 
 
 
 
 
Owner occupied
 
—

 
4,613

 
2,010

 
6,623

Non-owner occupied
 
—

 
5,520

 
7,870

 
13,390

Consumer and other
 
—

 
15,577

 
2,877

 
18,454

Total purchased credit impaired loans
 
$
—

 
$
47,923

 
$
19,527

 
$
67,450

Total loans
 
$
4,061,141

 
$
159,547

 
$
68,828

 
$
4,289,516

December 31, 2018
 
Pass

 
Watch

 
Substandard

 
Total

Loans, excluding purchased credit impaired loans
 
 
 
 
 
 
 
 
Commercial and industrial
 
$
804,447

 
$
52,624

 
$
8,564

 
$
865,635

Construction
 
543,953

 
5,012

 
1,331

 
550,296

Residential real estate:
 
 
 
 
 
 
 
 
1-to-4 family mortgage
 
519,541

 
8,697

 
8,200

 
536,438

Residential line of credit
 
186,753

 
1,039

 
2,688

 
190,480

Multi-family mortgage
 
75,381

 
76

 
—

 
75,457

Commercial real estate:
 
 
 
 
 
 
 
 
Owner occupied
 
456,694

 
16,765

 
14,049

 
487,508

Non-owner occupied
 
667,447

 
8,881

 
7,654

 
683,982

Consumer and other
 
204,279

 
2,763

 
1,674

 
208,716

Total loans, excluding purchased credit impaired loans
 
$
3,458,495

 
$
95,857

 
$
44,160

 
$
3,598,512

Purchased credit impaired loans
 
 
 
 
 
 
 
 
Commercial and industrial
 
$
—

 
$
964

 
$
484

 
$
1,448

Construction
 
—

 
3,229

 
2,526

 
5,755

Residential real estate:
 
 
 
 
 
 
 
 
1-to-4 family mortgage
 
—

 
14,681

 
4,696

 
19,377

Residential line of credit
 
—

 
—

 
—

 
—

Multi-family mortgage
 
—

 
—

 
—

 
—

Commercial real estate:
 
 
 
 
 
 
 
 
Owner occupied
 
—

 
4,110

 
1,906

 
6,016

Non-owner occupied
 
—

 
8,266

 
8,000

 
16,266

Consumer and other
 
—

 
15,422

 
4,715

 
20,137

Total purchased credit impaired loans
 
$
—

 
$
46,672

 
$
22,327

 
$
68,999

Total loans
 
$
3,458,495

 
$
142,529

 
$
66,487

 
$
3,667,511


Nonperforming loans include loans that are no longer accruing interest (nonaccrual loans) and loans past due ninety or more days and still accruing interest. Nonperforming loans and impaired loans are defined differently. Some loans may be included in both categories, whereas other loans may only be included in one category.
PCI loans are considered past due or delinquent when the contractual principal or interest due in accordance with the terms of the loan agreement remains unpaid after the due date of the scheduled payment. However, these loans are considered to be performing, even though they may be contractually past due, as any non-payment of contractual principal or interest is considered in the periodic re-estimation of expected cash flows and is included in the resulting recognition of current period covered loan loss provision or future period yield adjustments. As such, PCI loans are excluded from past due disclosures presented below. The accrual and/or accretion of interest is discontinued on PCI loans if management can no longer reliably estimate future cash flows on the loan. No PCI loans were classified as nonaccrual at June 30, 2019 or December 31, 2018 as the present value of the respective loan or pool of loans cash flows were considered estimable and probable of collection. Therefore, interest income, through accretion of the difference between the carrying value of the loans and the expected cash flows, is being recognized on all PCI loans. PCI contractually past due 30-89 days amounted to $5,541 and $3,605 as of June 30, 2019 and December 31, 2018, respectively, and an additional $1,178 and $4,076 were contractually past due 90 days or more as of June 30, 2019 and December 31, 2018, respectively.
The following tables provide the period-end amounts of loans that are past due thirty to eighty-nine days, past due ninety or more days and still accruing interest, loans not accruing interest and loans current on payments accruing interest by category at June 30, 2019 and December 31, 2018:
June 30, 2019
 
30-89 days
past due

 
90 days or more
and accruing
interest

 
Non-accrual
loans

 
Purchased Credit Impaired loans

 
Loans current
on payments
and accruing
interest

 
Total

Commercial and industrial
 
$
2,421

 
$
122

 
$
366

 
$
1,832

 
$
984,547

 
$
989,288

Construction
 
—

 
18

 
266

 
4,676

 
520,994

 
525,954

Residential real estate:
 
 
 
 
 
 
 
 
 
 
 
 
1-to-4 family mortgage
 
4,188

 
891

 
5,927

 
22,401

 
655,577

 
688,984

Residential line of credit
 
1,106

 
552

 
790

 
74

 
215,484

 
218,006

Multi-family mortgage
 
—

 
—

 
—

 
—

 
82,945

 
82,945

Commercial real estate:
 
 
 
 
 
 
 
 
 
 
 
 
Owner occupied
 
990

 
—

 
1,376

 
6,623

 
593,734

 
602,723

Non-owner occupied
 
518

 
57

 
6,663

 
13,390

 
901,522

 
922,150

Consumer and other
 
1,972

 
460

 
747

 
18,454

 
237,833

 
259,466

Total
 
$
11,195

 
$
2,100

 
$
16,135

 
$
67,450

 
$
4,192,636

 
$
4,289,516

 
December 31, 2018
 
30-89 days
past due

 
90 days or more
and accruing
interest

 
Non-accrual
loans

 
Purchased Credit Impaired loans

 
Loans current
on payments
and accruing
interest

 
Total

Commercial and industrial
 
$
999

 
$
65

 
$
438

 
$
1,448

 
$
864,133

 
$
867,083

Construction
 
109

 
—

 
283

 
5,755

 
549,904

 
556,051

Residential real estate:
 
 
 
 
 
 
 
 
 
 
 
 
1-to-4 family mortgage
 
4,919

 
737

 
2,704

 
19,377

 
528,078

 
555,815

Residential line of credit
 
726

 
957

 
804

 
—

 
187,993

 
190,480

Multi-family mortgage
 
—

 
—

 
—

 
—

 
75,457

 
75,457

Commercial real estate:
 
 
 
 
 
 
 
 
 
 
 
 
Owner occupied
 
407

 
197

 
2,423

 
6,016

 
484,481

 
493,524

Non-owner occupied
 
61

 
77

 
6,885

 
16,266

 
676,959

 
700,248

Consumer and other
 
1,987

 
1,008

 
148

 
20,137

 
205,573

 
228,853

Total
 
$
9,208

 
$
3,041

 
$
13,685

 
$
68,999

 
$
3,572,578

 
$
3,667,511


Impaired loans recognized in conformity with ASC 310 at June 30, 2019 and December 31, 2018, segregated by class, were as follows:
June 30, 2019
 
Recorded
investment

 
Unpaid
principal

 
Related
allowance

With a related allowance recorded:
 
 
 
 
 
 
Commercial and industrial
 
$
3,136

 
$
3,136

 
$
11

Construction
 
—

 
—

 
—

Residential real estate:
 
 
 
 
 
 
1-to-4 family mortgage
 
266

 
324

 
15

Residential line of credit
 
—

 
—

 
—

Multi-family mortgage
 
—

 
—

 
—

Commercial real estate:
 
 
 
 
 
 
Owner occupied
 
185

 
218

 
38

Non-owner occupied
 
5,490

 
5,524

 
299

Consumer and other
 
499

 
499

 
338

Total
 
$
9,576

 
$
9,701

 
$
701

With no related allowance recorded
 
 
 
 
 
 
Commercial and industrial
 
$
778

 
$
935

 
$
—

Construction
 
1,216

 
1,263

 
—

Residential real estate:
 
 
 
 
 
 
1-to-4 family mortgage
 
587

 
899

 
—

Residential line of credit
 
609

 
628

 
—

Multi-family mortgage
 
—

 
—

 
—

Commercial real estate:
 
 
 
 
 
 
Owner occupied
 
1,795

 
2,567

 
—

Non-owner occupied
 
1,049

 
1,781

 
—

Consumer and other
 
68

 
68

 
—

Total
 
$
6,102

 
$
8,141

 
$
—

Total impaired loans
 
$
15,678

 
$
17,842

 
$
701

December 31, 2018
 
Recorded
investment

 
Unpaid
principal

 
Related
allowance

With a related allowance recorded:
 
 
 
 
 
 
Commercial and industrial
 
$
618

 
$
732

 
$
3

Construction
 
—

 
—

 
—

Residential real estate:
 
 
 
 
 
 
1-to-4 family mortgage
 
145

 
145

 
7

Residential line of credit
 
—

 
—

 
—

Multi-family mortgage
 
—

 
—

 
—

Commercial real estate:
 
 
 
 
 
 
Owner occupied
 
560

 
641

 
53

Non-owner occupied
 
5,686

 
5,686

 
205

Consumer and other
 
—

 
—

 
—

Total
 
$
7,009

 
$
7,204

 
$
268

With no related allowance recorded:
 
 

 
 

 
 

Commercial and industrial
 
$
1,229

 
$
1,281

 
$
—

Construction
 
1,221

 
1,262

 
—

Residential real estate:
 
 
 
 
 
 
1-to-4 family mortgage
 
842

 
1,151

 
—

Residential line of credit
 
245

 
249

 
—

Multi-family mortgage
 
—

 
—

 
—

Commercial real estate:
 
 
 
 
 
 
Owner occupied
 
2,048

 
2,780

 
—

Non-owner occupied
 
1,049

 
1,781

 
—

Consumer and other
 
73

 
73

 
—

Total
 
$
6,707

 
$
8,577

 
$
—

Total impaired loans
 
$
13,716

 
$
15,781

 
$
268

Average recorded investment and interest income on a cash basis recognized during the three and six months ended June 30, 2019 and 2018 on impaired loans, segregated by class, were as follows:
 
 
Three Months Ended
 
 
Six Months Ended
 
June 30, 2019
 
Average recorded investment

 
Interest income recognized (cash basis)

 
Average recorded investment

 
Interest income recognized (cash basis)

With a related allowance recorded:
 
 
 
 
 
 
 
 
Commercial and industrial
 
$
3,161

 
$
67

 
$
1,877

 
$
105

Construction
 
—

 
—

 
—

 
—

Residential real estate:
 
 
 
 
 
 
 
 
1-to-4 family mortgage
 
336

 
9

 
206

 
11

Residential line of credit
 
—

 
—

 
—

 
—

Multi-family mortgage
 
—

 
—

 
—

 
—

Commercial real estate:
 
 
 
 
 
 
 
 
Owner occupied
 
187

 
4

 
373

 
6

Non-owner occupied
 
5,570

 
34

 
5,588

 
34

Consumer and other
 
250

 
19

 
250

 
19

Total
 
$
9,504

 
$
133

 
$
8,294

 
$
175

With no related allowance recorded:
 
 
 
 
 
 
 
 
Commercial and industrial
 
$
819

 
$
11

 
$
1,004

 
$
25

Construction
 
1,218

 
4

 
1,219

 
52

Residential real estate:
 
 
 
 
 
 
 
 
1-to-4 family mortgage
 
528

 
18

 
715

 
26

Residential line of credit
 
607

 
—

 
427

 
2

Multi-family mortgage
 
—

 
—

 
—

 
—

Commercial real estate:
 
 
 
 
 
 
 
 
Owner occupied
 
1,830

 
34

 
1,922

 
62

Non-owner occupied
 
1,049

 
—

 
1,049

 
—

Consumer and other
 
70

 
1

 
71

 
3

Total
 
$
6,121

 
$
68

 
$
6,407

 
$
170

Total impaired loans
 
$
15,625

 
$
201

 
$
14,701

 
$
345

June 30, 2018
 

 

 

 

With a related allowance recorded:
 

 

 

 

Commercial and industrial
 
$
103

 
$
2

 
$
103

 
$
3

Construction
 
—

 
—

 
—

 
—

Residential real estate:
 

 

 

 

1-to-4 family mortgage
 
189

 
2

 
191

 
4

Residential line of credit
 
—

 
—

 
—

 
—

Multi-family mortgage
 
—

 
—

 
—

 
—

Commercial real estate:
 

 

 

 

Owner occupied
 
670

 
21

 
799

 
27

Non-owner occupied
 
71

 
—

 
72

 
2

Consumer and other
 
—

 
—

 
—

 
—

Total
 
$
1,033

 
$
25

 
$
1,165

 
$
36

With no related allowance recorded:
 

 

 

 

Commercial and industrial
 
$
1,683

 
$
43

 
$
1,780

 
$
59

Construction
 
1,283

 
6

 
1,285

 
36

Residential real estate:
 

 

 

 

1-to-4 family mortgage
 
1,309

 
31

 
1,192

 
44

Residential line of credit
 
—

 
—

 
—

 
—

Multi-family mortgage
 
958

 
12

 
965

 
24

Commercial real estate:
 

 

 

 

Owner occupied
 
1,539

 
28

 
1,594

 
60

Non-owner occupied
 
1,310

 
—

 
1,313

 
7

Consumer and other
 
28

 
1

 
26

 
1

Total
 
$
8,110

 
$
121

 
$
8,155

 
$
231

Total impaired loans
 
$
9,143

 
$
146

 
$
9,320

 
$
267


As of June 30, 2019 and December 31, 2018, the Company has a recorded investment in troubled debt restructurings of $8,714 and $6,794, respectively. The modifications included extensions of the maturity date and/or a stated rate of interest to one lower than the current market rate. The Company has allocated $50 and $63 of specific reserves for those loans at June 30, 2019 and December 31, 2018, respectively. There were no commitments to lend any additional amounts to these customers for either period end. Of these loans, $2,448 and $2,703 were classified as non-accrual loans as of June 30, 2019 and December 31, 2018, respectively.
The following tables present the financial effect of TDRs recorded during the periods indicated. There were no new TDRs added during the three months ended June 30, 2019.
Six Months Ended June 30, 2019
 
Number of loans

 
Pre-modification outstanding recorded investment

 
Post-modification outstanding recorded investment

 
Charge offs and specific reserves

Commercial and industrial
 
2

 
$
3,188

 
$
3,188

 
$
—

Total
 
2

 
$
3,188

 
$
3,188

 
$
—


Three Months Ended June 30, 2018
 
Number of loans

 
Pre-modification outstanding recorded investment

 
Post-modification outstanding recorded investment

 
Charge offs and specific reserves

Commercial and industrial
 
2

 
$
887

 
$
887

 
$
—

Total
 
2

 
$
887

 
$
887

 
$
—


Six Months Ended June 30, 2018
 
Number of loans
 
Pre-modification outstanding recorded investment

 
Post-modification outstanding recorded investment

 
Charge offs and specific reserves

Commercial and industrial
 
2
 
$
887

 
$
887

 
$
—

Residential real estate:
 
 
 
 
 
 
 
 
1-4 family mortgage
 
1
 
249

 
249

 
—

Consumer and other
 
1
 
5

 
5

 
—

Total
 
4
 
$
1,141

 
$
1,141

 
$
—

There were no loans modified as troubled debt restructurings for which there was a payment default within twelve months following the modification during the three or six months ended June 30, 2019 and 2018. A loan is considered to be in payment default once it is 90 days contractually past due under the modified terms.
The terms of certain other loans were modified during the three and six months ended June 30, 2019 and 2018 that did not meet the definition of a troubled debt restructuring. The modification of these loans involved either a modification of the terms of a loan to borrowers who were not experiencing financial difficulties or a delay in a payment that was considered to be insignificant.
In order to determine whether a borrower is experiencing financial difficulty, an evaluation is performed of the probability that the borrower will be in payment default on any of its debt in the foreseeable future without the modification. This evaluation is performed under the company’s internal underwriting policy.
v3.19.2
Other Real Estate Owned
 6 Months Ended
Jun. 30, 2019
Real Estate [Abstract]  
Other real estate owned
Other real estate owned:
The amount reported as other real estate owned includes property acquired through foreclosure in addition to excess facilities held for sale and is carried at fair value less estimated cost to sell the property. The following table summarizes the other real estate owned for the three and six months ended June 30, 2019 and 2018: 
 
Three Months Ended
 
 
Six Months Ended
 
 
 
June 30,
 
 
June 30,
 
 
 
2019

 
2018

 
2019

 
2018

Balance at beginning of period
 
$12,828
 
$
15,334

 
$
12,643

 
$
16,442

Transfers from loans
 
924

 
384

 
2,030

 
1,014

Transfers from premises and equipment
 
2,640

 
—

 
2,640

 
—

Properties sold
 
(1,148
)
 
(777
)
 
(1,864
)
 
(2,209
)
Gain on sale of other real estate owned
 
329

 
51

 
322

 
8

Loans provided for sales of other real estate owned
 
—

 
(325
)
 
(166
)
 
(445
)
Write-downs and partial liquidations
 
(52
)
 
(28
)
 
(84
)
 
(171
)
Balance at end of period
 
$15,521
 
$
14,639

 
$
15,521

 
$
14,639


Foreclosed residential real estate properties included in the table above totaled $2,895 and $2,101 as of June 30, 2019 and December 31, 2018, respectively. The recorded investment in residential mortgage loans secured by residential real estate properties for which foreclosure proceedings are in process totaled $0 and $478 at June 30, 2019 and December 31, 2018, respectively.
Excess land and facilities held for sale resulting from branch consolidations totaled $7,691 as of June 30, 2019, including $891 acquired in the Atlantic Capital branch acquisition, and $5,381 as of December 31, 2018, respectively.
v3.19.2
Goodwill and intangible assets
 6 Months Ended
Jun. 30, 2019
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and intangible assets
Goodwill and intangible assets:
The following table summarizes changes in goodwill during the six months ended June 30, 2019. There was no such activity during the six months ended June 30, 2018.
 
 
Goodwill

Balance at December 31, 2018
 
$
137,190

Addition from acquisition of Atlantic Capital branches (see Note 2)
 
31,396

Impairment due to sale of TPO mortgage delivery channel
 
(100
)
Balance at June 30, 2019
 
$
168,486


Goodwill is tested annually, or more often if circumstances warrant, for impairment. If the implied fair value of goodwill is lower than its carrying amount, goodwill impairment is indicated and is written down to its implied fair value. Subsequent increases in goodwill values are not recognized in the financial statements. Goodwill impairment of $100 for the six months ended June 30, 2019 is related to the goodwill assigned to the third party origination channel in the Mortgage segment, which was sold during the second quarter of 2019. There were no additions or impairment recorded during the six months ended June 30, 2018.
Core deposit and other intangibles include core deposit intangibles, customer base trust intangible and manufactured housing servicing intangible. The change in core deposit and other intangibles during the three and six months ended June 30, 2019 and 2018 is as follows:
 
 
Core deposit and other intangibles
 
 
 
Three Months Ended
 
 
Six Months Ended
 
 
 
June 30,
 
 
June 30,
 
 
 
2019

 
2018

 
2019

 
2018

Beginning Balance
 
$
10,439

 
$
14,027

 
$
11,628

 
$
14,902

Addition of core deposit intangible from acquisition of Atlantic Capital branches (see Note 2)
 
10,760

 
—

 
10,760

 
—

Reclassification of leasehold intangible(1)
 
—

 
—

 
(460
)
 
—

Less: amortization expense(2)
 
(1,254
)
 
(824
)
 
(1,983
)
 
(1,699
)
Ending Balance
 
$
19,945

 
$
13,203

 
$
19,945

 
$
13,203


(1) The Company adopted ASU 2016-02 "Leases" (Topic 842) on January 1, 2019 and reclassified $460 of leasehold intangibles to Operating lease right-of-use asset.
(2) The three and six months ended June 30, 2018 includes $22 and $44, respectively, of amortization expense related to leasehold intangibles included in occupancy and equipment expense.

During the second quarter of 2019, the Company recorded $10,760 of core deposit intangibles resulting from the Atlantic Capital branch acquisition, which is being amortized over a weighted average life of approximately 6 years. 
The estimated aggregate future amortization expense of the core deposit and other intangibles is as follows:
Remainder of 2019
 
$
2,356

December 31, 2020
 
4,262

December 31, 2021
 
3,663

December 31, 2022
 
2,973

December 31, 2023
 
2,247

Thereafter
 
4,444

 
 
$
19,945
v3.19.2
Leases
 6 Months Ended
Jun. 30, 2019
Leases [Abstract]  
Leases
Leases:
On January 1, 2019, the Company adopted ASU 2016-02 "Leases" (Topic 842) and all subsequent updates that modified topic 842. For the Company, the adoption primarily affected the accounting treatment for operating lease agreements in which the Company is the lessee.
Substantially all the leases for which the Company is the lessee are comprised of real estate for branches, mortgage, and operations locations. As of June 30, 2019, the Company had 43 operating leases with terms greater than one year to 37 years. Leases with initial terms of less than one year are not recorded on the balance sheet. The Company elected not to include equipment leases and leases in which the Company is the lessor on the consolidated balance sheets as these are not material.
Most leases include one or more options to renew, with renewal terms that can extend the lease up to an additional 20 years or more. Certain lease agreements contain provisions to periodically adjust rental payments for inflation. Renewal options that management is reasonably certain to renew are included in the ROU asset and lease liability.
Information related to the Company's operating leases is presented below:
 
June 30,

 
2019

Right-of-use assets
$
35,872

Lease liabilities
38,722

Weighted average remaining lease term (in years)
15.63

Weighted average discount rate
3.42
%
The components of lease expense included in Occupancy and equipment expense were as follows:
 
Three Months Ended

 
Six Months Ended

 
June 30, 2019

 
June 30, 2019

Operating lease cost
$
1,421

 
$
2,533

Short-term lease cost
260

 
484

Variable lease cost
99

 
199

Total lease cost
$
1,780

 
$
3,216


As the Company elected, for all classes of underlying assets, not to separate lease and non-lease components and instead to account for them as a single lease component, the variable lease cost primarily represents variable payments such as common area maintenance, utilities, and property taxes.
Lease expense for the three and six months ended June 30, 2018, prior to the adoption of ASU 2016-02, was $1,239 and $2,491, respectively.
A maturity analysis of operating lease liabilities and a reconciliation of undiscounted cash flows to the total operating lease liability is as follows:
 
June 30,

 
2019

Lease payments due on or before:
 
June 30, 2020
$
5,703

June 30, 2021
5,465

June 30, 2022
4,854

June 30, 2023
4,082

June 30, 2024
3,728

Thereafter
26,433

Total undiscounted cash flows
50,265

Discount on cash flows
(11,543
)
     Total lease liability
$
38,722
v3.19.2
Mortgage servicing rights
 6 Months Ended
Jun. 30, 2019
Transfers and Servicing of Financial Assets [Abstract]  
Mortgage servicing rights
Mortgage servicing rights:
Changes in the Company’s mortgage servicing rights were as follows for three and six months ended June 30, 2019 and 2018:
 
 
Three Months Ended June 30,
 
 
Six Months Ended June 30,
 
 
 
2019

 
2018

 
2019

 
2018

Carrying value at beginning of period
 
$
64,031

 
$
93,160

 
$
88,829

 
$
76,107

Capitalization
 
11,212

 
16,304

 
19,932

 
29,814

Sales
 
—

 
—

 
(29,160
)
 
—

Change in fair value:
 
 
 
 
 
 
 
 
Due to pay-offs/pay-downs
 
(3,305
)
 
(2,207
)
 
(5,100
)
 
(5,267
)
Due to change in valuation inputs or assumptions
 
(5,558
)
 
2,192

 
(8,121
)
 
8,795

Carrying value at period end
 
$
66,380

 
$
109,449

 
$
66,380

 
$
109,449



The following table summarizes servicing income and expense included in mortgage banking income and other noninterest expense within the Mortgage Segment operating results, respectively, for the three and six months ended June 30, 2019 and 2018, respectively: 
 
 
Three Months Ended June 30,
 
 
Six Months Ended June 30,
 
 
 
2019

 
2018

 
2019

 
2018

Servicing income:
 
 
 
 
 
 
 
 
Servicing income
 
$
4,052

 
$
5,604

 
$
8,803

 
$
10,397

Change in fair value of mortgage servicing rights
 
(8,863
)
 
(15
)
 
(13,221
)
 
3,528

Change in fair value of derivative hedging instruments
 
5,063

 
(1,763
)
 
7,540

 
(7,019
)
Servicing income
 
252

 
3,826

 
3,122

 
6,906

Servicing expenses
 
1,485

 
2,078

 
3,229

 
3,873

Net servicing (loss) income
 
$
(1,233
)
 
$
1,748

 
$
(107
)
 
$
3,033


Data and key economic assumptions related to the Company’s mortgage servicing rights as of June 30, 2019 and December 31, 2018 are as follows: 
 
 
June 30,

 
December 31,

 
 
2019


2018

Unpaid principal balance
 
$
5,850,557

 
$
6,755,114

Weighted-average prepayment speed (CPR)
 
11.37
%
 
8.58
%
Estimated impact on fair value of a 10% increase
 
$
(2,881
)
 
$
(2,072
)
Estimated impact on fair value of a 20% increase
 
$
(5,546
)
 
$
(4,006
)
Discount rate
 
9.24
%
 
10.45
%
Estimated impact on fair value of a 100 bp increase
 
$
(2,656
)
 
$
(2,505
)
Estimated impact on fair value of a 200 bp increase
 
$
(5,102
)
 
$
(4,807
)
Weighted-average coupon interest rate
 
4.40
%
 
4.21
%
Weighted-average servicing fee (basis points)
 
29

 
30

Weighted-average remaining maturity (in months)
 
318

 
325


The Company hedges the mortgage servicing rights portfolio with various derivative instruments to offset changes in the fair value of the related mortgage servicing rights. See Note 11, "Derivatives" for additional information on these hedging instruments.
From time to time, the Company enters agreements to sell certain tranches of mortgage servicing rights. Upon consummation of the sale, occasionally the Company continues to subservice the underlying mortgage loans until they can be transferred to the purchaser. During the six months ended June 30, 2019, the Company sold $29,160 of mortgage servicing rights on $2,034,374 of serviced mortgage loans. No material gain or loss was recognized in connection with this transaction. As of June 30, 2019, there were no loans being serviced that related to the bulk sale of mortgage servicing rights. There were no sales of mortgage servicing rights during the six months ended June 30, 2018. As of June 30, 2019 and December 31, 2018, mortgage escrow deposits totaled to $68,293 and $53,468, respectively.
v3.19.2
Income taxes
 6 Months Ended
Jun. 30, 2019
Income Tax Disclosure [Abstract]  
Income taxes
Income taxes:
An allocation of federal and state income taxes between current and deferred portions is presented below:
 
 
Three Months Ended June 30,
 
 
 
2019

 
2018

Current
 
$
6,546

 
$
2,195

Deferred
 
(232
)
 
5,599

Total
 
$
6,314

 
$
7,794

 
 
 
Six Months Ended June 30,
 
 
 
2019

 
2018

Current
 
$
16,740

 
$
2,195

Deferred
 
(4,451
)
 
11,081

Total
 
$
12,289

 
$
13,276


Federal income tax expense differs from the statutory federal rate of 21% for the three and six months ended June 30, 2019 and 2018 due to the following:
 
 
Three Months Ended June 30,
 
 
 
2019
 
 
2018
 
Federal taxes calculated at statutory rate
 
$
5,251

21.0
 %
 
$
6,270

21.0
 %
Increase (decrease) resulting from:
 
 
 
 
 
 
State taxes, net of federal benefit
 
1,205

4.8
 %
 
1,543

5.2
 %
Benefit of equity based compensation
 
(1
)
0.0
 %
 
(15
)
(0.1
)%
Municipal interest income, net of interest disallowance
 
(223
)
(0.9
)%
 
(207
)
(0.7
)%
Bank owned life insurance
 
(15
)
—
 %
 
(13
)
(0.1
)%
Stock offering costs
 
—

0.0
 %
 
141

0.5
 %
Other
 
97

0.4
 %
 
75

0.3
 %
Income tax expense, as reported
 
$
6,314

25.3
 %
 
$
7,794

26.1
 %
 
 
 
 
 
 
 
 
 
Six Months Ended June 30,
 
 
 
2019
 
 
2018
 
Federal taxes calculated at statutory rate
 
$
10,619

21.0
 %
 
$
11,570

21.0
 %
Increase (decrease) resulting from:
 
 
 
 
 
 
State taxes, net of federal benefit
 
2,343

4.6
 %
 
2,686

4.9
 %
Benefit of equity based compensation
 
(393
)
(0.8
)%
 
(751
)
(1.5
)%
Municipal interest income, net of interest disallowance
 
(439
)
(0.9
)%
 
(408
)
(0.7
)%
Bank owned life insurance
 
(27
)
—
 %
 
(25
)
—
 %
Stock offering costs
 
—

—
 %
 
141

0.3
 %
Other
 
186

0.4
 %
 
63

0.1
 %
Income tax expense, as reported
 
$
12,289

24.3
 %
 
$
13,276

24.1
 %

 The components of the net deferred tax liability at June 30, 2019 and December 31, 2018, are as follows: 
 
 
June 30,

 
December 31,

 
 
2019

 
2018

Deferred tax assets:
 
 

 
 

Allowance for loan losses
 
$
7,853

 
$
7,539

Operating lease liability
 
10,090

 
—

Amortization of core deposit intangible
 
1,197

 
1,012

Deferred compensation
 
4,851

 
5,878

Unrealized loss on available-for-sale debt securities
 
100

 
3,299

Other
 
2,011

 
1,998

Subtotal
 
26,102

 
19,726

Deferred tax liabilities:
 
 

 
 

FHLB stock dividends
 
(550
)
 
(550
)
Operating lease - right of use asset
 
(9,806
)
 
—

Depreciation
 
(4,615
)
 
(4,812
)
Cash flow hedges
 
(2,252
)
 
(736
)
Mortgage servicing rights
 
(17,296
)
 
(23,146
)
Other
 
(8,474
)
 
(7,145
)
Subtotal
 
(42,993
)
 
(36,389
)
Net deferred tax liability
 
$
(16,891
)
 
$
(16,663
)

 
Tax periods for all fiscal years after 2014 remain open to examination by the federal and state taxing jurisdictions to which the Company is subject.
v3.19.2
Commitments and contingencies
 6 Months Ended
Jun. 30, 2019
Commitments and Contingencies Disclosure [Abstract]  
Commitments and contingencies
Commitments and contingencies:
Some financial instruments, such as loan commitments, credit lines, letters of credit, and overdraft protection, are issued to meet customer financing needs. These are agreements to provide credit or to support the credit of others, as long as conditions established in the contract are met, and usually have expiration dates.
Commitments may expire without being used. Off-balance sheet risk to credit loss exists up to the face amount of these instruments, although material losses are not anticipated. The same credit policies are used to make such commitments as are used for loans, including obtaining collateral at exercise of the commitment. 
 
 
June 30,

 
December 31,

 
 
2019

 
2018

Commitments to extend credit, excluding interest rate lock commitments
 
$
1,191,641

 
$
1,032,390

Letters of credit
 
17,525

 
19,024

Balance at end of period
 
$
1,209,166

 
$
1,051,414


In connection with the sale of mortgage loans to third party investors, the Bank makes usual and customary representations and warranties as to the propriety of its origination activities. Occasionally, the investors require the Bank to repurchase loans sold to them under the terms of the warranties. When this happens, the loans are recorded at fair value with a corresponding charge to a valuation reserve. The total principal amount of loans repurchased (or indemnified for) was $2,117 and $3,510 for the three and six months ended June 30, 2019, respectively, and $1,543 and $2,662 for the three and six months ended June 30, 2018, respectively. The Company has established a reserve associated with loan repurchases. This reserve is recorded in accrued expenses and other liabilities on the consolidated balance sheets.
The following table summarizes the activity in the repurchase reserve:
 
 
Three Months Ended June 30,
 
 
Six Months Ended June 30,
 
 
 
2019

 
2018

 
2019

 
2018

Balance at beginning of period
 
$
3,332

 
$
3,514

 
$
3,273

 
$
3,386

Provision for loan repurchases or indemnifications
 
89

 
206

 
148

 
392

Recoveries on previous losses
 
(14
)
 
(74
)
 
(14
)
 
(132
)
Balance at end of period
 
$
3,407

 
$
3,646

 
$
3,407

 
$
3,646
v3.19.2
Derivatives
 6 Months Ended
Jun. 30, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Derivatives
Derivatives:
The Company utilizes derivative financial instruments as part of its ongoing efforts to manage its interest rate risk exposure as well as the exposure for its customers. Derivative financial instruments are included in the Consolidated Balance Sheets line item “Other assets” or “Other liabilities” at fair value in accordance with ASC 815, “Derivatives and Hedging.”
The Company enters into commitments to originate loans whereby the interest rate on the loan is determined prior to funding (rate-lock commitments). Under such commitments, interest rates for mortgage loans are typically locked in for up to forty-five days with the customer. These interest rate lock commitments are recorded at fair value in the Company’s Consolidated Balance Sheets.  The Company also enters into best effort or mandatory delivery forward commitments to sell residential mortgage loans to secondary market investors. Gains and losses arising from changes in the valuation of the rate-lock commitments and forward commitments are recognized currently in earnings and are reflected under the line item “Mortgage banking income” on the Consolidated Statements of Income.
The Company enters into forward commitments, futures and options contracts that are not designated as hedging instruments as economic hedges to offset the changes in fair value of MSRs. Gains and losses associated with these instruments are included in earnings and are reflected under the line item “Mortgage banking income” on the Consolidated Statements of Income.
Additionally, the Company enters into derivative instruments that are not designated as hedging instruments to help its commercial customers manage their exposure to interest rate fluctuations. To mitigate the interest rate risk associated with customer contracts, the Company enters into an offsetting derivative contract. The Company manages its credit risk, or potential risk of default by its commercial customers through credit limit approval and monitoring procedures.
The Company also maintains two interest rate swap agreements with notional amounts totaling $30,000 used to hedge interest rate exposure on outstanding subordinated debentures included in long-term debt totaling $30,930. Under these agreements, the Company receives a variable rate of interest and pays a fixed rate of interest. The interest rate swap contracts, which mature in June of 2024, are designated as cash flow hedges with the objective of reducing the variability in cash flows resulting from changes in interest rates. These contracts had a negative fair value of $491 at June 30, 2019 and a positive fair value of $721 at December 31, 2018.
In July of 2017, the Company entered into three interest rate swap contracts on floating rate liabilities at the Bank level with notional amounts of $30,000, $35,000 and $35,000 for a period of three, four and five years, respectively. These interest rate swaps were designated as cash flow hedges with the objective of reducing the variability of cash flows associated with $100,000 of FHLB borrowings obtained in conjunction with the Clayton Banks acquisition. During the first quarter of 2018, these swaps were canceled, locking in a tax-adjusted gain of $1,564 in other comprehensive income to be accreted over the three, four and five-year terms of the underlying contracts. As of June 30, 2019 and December 31, 2018, there was $1,223 and $1,436, respectively, remaining in the other comprehensive income to be accreted.
Certain financial instruments, including derivatives, may be eligible for offset in the Consolidated Balance Sheets when the “right of setoff” exists or when the instruments are subject to an enforceable master netting agreement, which includes the right of the non-defaulting party or non-affected party to offset recognized amounts, including collateral posted with the counterparty, to determine a net receivable or net payable upon early termination of the agreement. Certain of the Company’s derivative instruments are subject to master netting agreements. The Company has not elected to offset such financial instruments in the Consolidated Balance Sheets.
Most derivative contracts with clients are secured by collateral. Additionally, in accordance with the interest rate agreements with derivatives dealers, the Company may be required to post margin to these counterparties. At June 30, 2019 and December 31, 2018, the Company had minimum collateral posting thresholds with certain derivative counterparties and had collateral posted of $26,832 and $13,904, respectively, against its obligations under these agreements. Cash collateral related to derivative contracts is recorded in other assets in the Consolidated Balance Sheets.
The following table provides details on the Company’s derivative financial instruments as of the dates presented:
 
 
June 30, 2019
 
 
 
Notional Amount

 
Asset

 
Liability

Not designated as hedging:
 
 
 
 
 
 
Interest rate contracts
 
$
388,118

 
$
14,714

 
$
14,714

Forward commitments
 
704,588

 
—

 
4,216

Interest rate-lock commitments
 
608,730

 
9,041

 
—

Futures contracts
 
189,000

 
619

 
—

Option contracts
 
12,500

 
33

 
—

Total
 
$
1,902,936

 
$
24,407

 
$
18,930


 
 
December 31, 2018
 
 
 
Notional Amount

 
Asset

 
Liability

Not designated as hedging:
 
 
 
 
 
 
Interest rate contracts
 
$
295,333

 
$
6,679

 
$
6,679

Forward commitments
 
474,208

 
—

 
4,958

Interest rate-lock commitments
 
318,706

 
6,241

 
—

Futures contracts
 
166,000

 
649

 
—

Options contracts
 
3,800

 
26

 
—

Total
 
$
1,258,047

 
$
13,595

 
$
11,637

 
 
 
June 30, 2019
 
 
 
Notional Amount

 
Asset

 
Liability

Designated as hedging:
 
 
 
 
 
 
Interest rate swaps
 
$
30,000

 
$
—

 
$
491


 
 
December 31, 2018
 
 
 
Notional Amount

 
Asset

 
Liability

Designated as hedging:
 
 
 
 
 
 
Interest rate swaps
 
$
30,000

 
$
721

 
$
—


Gains (losses) included in the Consolidated Statements of Income related to the Company’s derivative financial instruments were as follows:
 
 
Three Months Ended June 30,
 
 
Six Months Ended June 30,
 
 
 
2019

 
2018

 
2019

 
2018

Not designated as hedging instruments (included in mortgage banking income):
 
 
 
 
 
 
 
 
Interest rate lock commitments
 
$
1,875

 
$
(684
)
 
$
3,755

 
$
2,727

Forward commitments
 
(5,264
)
 
635

 
(9,668
)
 
5,953

Futures contracts
 
4,107

 
(1,369
)
 
5,978

 
(3,816
)
Option contracts
 
31

 
(38
)
 
44

 
5

Total
 
$
749

 
$
(1,456
)
 
$
109

 
$
4,869

 
 
Three Months Ended June 30,
 
 
Six Months Ended June 30,
 
 
 
2019

 
2018

 
2019

 
2018

Designated as hedging:
 
 
 
 
 
 
 
 
Amount of gain (loss) reclassified from other comprehensive
income and recognized in interest expense on
borrowings, net of taxes of ($42), $1, ($75), and $2
 
$
119

 
$
(4
)
 
$
213

 
$
(7
)
Gain included in interest expense on borrowings
 
39

 
16

 
94

 
44

Total
 
$
158

 
$
12

 
$
307

 
$
37

The following discloses the amount included in other comprehensive income (loss), net of tax, for derivative instruments designated as cash flow hedges for the periods presented: 
 
 
Three Months Ended June 30,
 
 
Six Months Ended June 30,
 
 
 
2019

 
2018

 
2019

 
2018

Designated as hedging:
 
 
 
 
 
 
 
 
Amount of (loss) gain recognized in other comprehensive
   income, net of tax
 
$
(564
)
 
$
198

 
$
(895
)
 
$
1,469
v3.19.2
Fair value of financial instruments
 6 Months Ended
Jun. 30, 2019
Fair Value Disclosures [Abstract]  
Fair value of financial instruments
Fair value of financial instruments:
FASB ASC 820-10 defines fair value as the exchange price that would be received for an asset or paid to transfer a liability (exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. ASC 820-10 also establishes a framework for measuring the fair value of assets and liabilities according to a hierarchy that prioritizes the inputs to valuation techniques used to measure fair value into three broad levels. The fair value hierarchy gives the highest priority to quoted prices in active markets for identical assets and liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3). The hierarchy maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that the most observable inputs be used when available. Observable inputs are inputs that market participants would use in pricing the asset or liability based on market data obtained from sources independent of the Company. Unobservable inputs are inputs that are derived from assumptions based on management’s estimate of assumptions that market participants would use in pricing the asset or liability based on the best information available under the circumstances.
The hierarchy is broken down into the following three levels, based on the reliability of inputs:
Level 1: Unadjusted quoted prices in active markets for identical assets or liabilities that are accessible at the measurement date.
Level 2: Significant other observable inputs other than Level 1 prices, such as quoted prices for similar assets or liabilities, quoted prices in markets that are not active or other inputs that are observable or can be corroborated by observable market data.
Level 3: Significant unobservable inputs for assets or liabilities that are derived from assumptions based on management’s estimate of assumptions that market participants would use in pricing the assets or liabilities.
The Company records the fair values of financial assets and liabilities on a recurring and non-recurring basis using the following methods and assumptions:
Investment securities-Investment securities are recorded at fair value on a recurring basis. Fair values for securities are based on quoted market prices, where available. If quoted prices are not available, fair values are based on quoted market prices of similar instruments or are determined by matrix pricing, which is a mathematical technique widely used in the industry to value debt securities without relying exclusively on quoted prices for the specific securities but rather by relying on the pricing relationship or correlation among other benchmark quoted securities. Investment securities valued using quoted market prices of similar instruments or that are valued using matrix pricing are classified as Level 2. When significant inputs to the valuation are unobservable, the available-for-sale securities are classified within Level 3 of the fair value hierarchy.
Where no active market exists for a security or other benchmark securities, fair value is estimated by the Company with reference to discount margins for other high-risk securities.
Loans held for sale-Loans held for sale are carried at fair value. Fair value is determined using current secondary market prices for loans with similar characteristics, that is, using Level 2 inputs.
Derivatives-The fair value of the interest rate swaps are based upon fair values provided from entities that engage in interest rate swap activity and is based upon projected future cash flows and interest rates. Fair value of commitments is based on fees currently charged to enter into similar agreements, and for fixed-rate commitments, the difference between current levels of interest rates and the committed rates is also considered. These financial instruments are classified as Level 2.
Other real estate owned-Other real estate owned (“OREO”) is comprised of commercial and residential real estate obtained in partial or total satisfaction of loan obligations and excess land and facilities held for sale. OREO acquired in settlement of indebtedness is recorded at the lower of the carrying amount of the loan or the fair value of the real estate less costs to sell. Fair value is determined on a nonrecurring basis based on appraisals by qualified licensed appraisers and is adjusted for management’s estimates of costs to sell and holding period discounts. The valuations are classified as Level 3.
Mortgage servicing rights-Servicing rights are carried at fair value. Fair value is determined using an income approach with various assumptions including expected cash flows, market discount rates, prepayment speeds, servicing costs, and other factors. As such, mortgage servicing rights are considered Level 3.
Impaired loans-Loans considered impaired under FASB ASC 310, "Receivables", are loans for which, based on current information and events, it is probable that the creditor will be unable to collect all amounts due according to the contractual terms of the loan agreement. Fair value adjustments for impaired loans are recorded on a non-recurring basis as either partial write downs based on observable market prices or current appraisal of the collateral. Impaired loans are classified as Level 3.
The following table contains the estimated fair values and the related carrying values of the Company's financial instruments. Items which are not financial instruments are not included.
 
 
 Fair Value
 
June 30, 2019
 
Carrying amount

 
Level 1

 
Level 2

 
Level 3

 
Total

Financial assets:
 
 
 
 
 
 
 
 
 
 
Cash and cash equivalents
 
$
164,336

 
$
164,336

 
$
—

 
$
—

 
$
164,336

Investment securities
 
678,457

 
—

 
678,457

 
—

 
678,457

Loans, net
 
4,259,378

 
—

 
—

 
4,241,259

 
4,241,259

Loans held for sale
 
294,699

 
—

 
294,699

 
—

 
294,699

Interest receivable
 
17,952

 
—

 
3,315

 
14,637

 
17,952

Mortgage servicing rights
 
66,380

 
—

 
—

 
66,380

 
66,380

Derivatives
 
24,407

 
—

 
24,407

 
—

 
24,407

Financial liabilities:
 
 
 
 
 
 
 
 
 
 
Deposits:
 
 
 
 
 
 
 
 
 
 
Without stated maturities
 
$
3,565,635

 
$
3,565,635

 
$
—

 
$
—

 
$
3,565,635

With stated maturities
 
1,277,191

 
—

 
1,283,608

 
—

 
1,283,608

Securities sold under agreement to
repurchase and federal funds sold
 
41,369

 
41,369

 
—

 
—

 
41,369

Federal Home Loan Bank advances
 
185,000

 
—

 
185,019

 
—

 
185,019

Subordinated debt
 
30,930

 
—

 
30,000

 
—

 
30,000

Interest payable
 
8,759

 
402

 
8,357

 
—

 
8,759

Derivatives
 
19,421

 
—

 
19,421

 
—

 
19,421

 
 
 
 Fair Value
 
December 31, 2018
 
Carrying amount

 
Level 1

 
Level 2

 
Level 3

 
Total

Financial assets:
 
 
 
 
 
 
 
 
 
 
Cash and cash equivalents
 
$
125,356

 
$
125,356

 
$
—

 
$
—

 
$
125,356

Investment securities
 
658,805

 
—

 
658,805

 
—

 
658,805

Loans, net
 
3,638,579

 
—

 
—

 
3,630,500

 
3,630,500

Loans held for sale
 
278,815

 
—

 
278,815

 
—

 
278,815

Interest receivable
 
14,503

 
—

 
2,848

 
11,655

 
14,503

Mortgage servicing rights
 
88,829

 
—

 
—

 
88,829

 
88,829

Derivatives
 
14,316

 
—

 
14,316

 
—

 
14,316

Financial liabilities:
 
 
 
 
 
 
 
 
 
 
Deposits:
 
 
 
 
 
 
 
 
 
 
Without stated maturities
 
$
3,051,972

 
$
3,051,972

 
$
—

 
$
—

 
$
3,051,972

With stated maturities
 
1,119,745

 
—

 
1,122,076

 
—

 
1,122,076

Securities sold under agreement to
repurchase and federal funds sold
 
15,081

 
15,081

 
—

 
—

 
15,081

Federal Home Loan Bank advances
 
181,765

 
—

 
181,864

 
—

 
181,864

Subordinated debt
 
30,930

 
—

 
30,000

 
—

 
30,000

Interest payable
 
5,015

 
530

 
4,485

 
—

 
5,015

Derivatives
 
11,637

 
—

 
11,637

 
—

 
11,637


The balances and levels of the assets measured at fair value on a recurring basis at June 30, 2019 are presented in the following table:
June 30, 2019
 
Quoted prices
in active
markets for
identical assets
(liabilities)
(level 1)

 
Significant
other
observable
inputs
(level 2)

 
Significant unobservable
inputs
(level 3)

 
Total

Recurring valuations:
 
 
 
 
 
 
 
 
Financial assets:
 
 
 
 
 
 
 
 
Available-for-sale securities:
 
 
 
 
 
 
 
 
U.S. government agency securities
 
$
—

 
$
996

 
$
—

 
$
996

Mortgage-backed securities
 
—

 
517,505

 
—

 
517,505

Municipals, tax-exempt
 
—

 
149,305

 
—

 
149,305

Treasury securities
 
—

 
7,409

 
—

 
7,409

Equity securities
 
—

 
3,242

 
—

 
3,242

Total
 
$
—

 
$
678,457

 
$
—

 
$
678,457

Loans held for sale
 
$
—

 
$
294,699

 
$
—

 
$
294,699

Mortgage servicing rights
 
—

 
—

 
66,380

 
66,380

Derivatives
 
—

 
24,407

 
—

 
24,407

Financial Liabilities:
 
 
 
 
 
 
 
 
Derivatives
 
—

 
19,421

 
—

 
19,421


The balances and levels of the assets measured at fair value on a non-recurring basis at June 30, 2019 are presented in the following table: 
At June 30, 2019
 
Quoted prices
in active
markets for
identical assets
(liabilities)
(level 1)

 
Significant
other
observable
inputs
(level 2)

 
Significant unobservable
inputs
(level 3)

 
Total

Non-recurring valuations:
 
 
 
 
 
 
 
 
Financial assets:
 
 
 
 
 
 
 
 
Other real estate owned
 
$
—

 
$
—

 
$
4,613

 
$
4,613

Impaired loans(1):
 
 
 
 
 
 
 
 
Commercial and industrial
 
$
—

 
$
—

 
$
3,528

 
$
3,528

Residential real estate:
 
 
 
 
 
 
 
 
1-4 family mortgage
 
—

 
—

 
317

 
317

Commercial real estate:
 
 
 
 
 
 
 
 
Owner occupied
 
—

 
—

 
80

 
80

Consumer and other
 
—

 
—

 
499

 
499

Total
 
$
—

 
$
—

 
$
4,424

 
$
4,424


(1) Includes both impaired non-purchased loans and collateral-dependent PCI loans.
The balances and levels of the assets measured at fair value on a recurring basis at December 31, 2018 are presented in the following table: 
At December 31, 2018
 
Quoted prices
in active
markets for
identical assets
(liabilities)
(level 1)

 
Significant
other
observable
inputs
(level 2)

 
Significant unobservable
inputs
(level 3)

 
Total

Recurring valuations:
 
 
 
 
 
 
 
 
Financial assets:
 
 
 
 
 
 
 
 
Available-for-sale securities:
 
 
 
 
 
 
 
 
U.S. government agency securities
 
$
—

 
$
989

 
$
—

 
$
989

Mortgage-backed securities
 
—

 
508,580

 
—

 
508,580

Municipals, tax-exempt
 
—

 
138,887

 
—

 
138,887

Treasury securities
 
—

 
7,242

 
—

 
7,242

Equity securities
 
—

 
3,107

 
—

 
3,107

Total
 
$
—

 
$
658,805

 
$
—

 
$
658,805

Loans held for sale
 
$
—

 
$
278,815

 
$
—

 
$
278,815

Mortgage servicing rights
 
—

 
—

 
88,829

 
88,829

Derivatives
 
—

 
14,316

 
—

 
14,316

Financial Liabilities:
 
 
 
 
 
 
 
 
Derivatives
 
—

 
11,637

 
—

 
11,637


 
The balances and levels of the assets measured at fair value on a non-recurring basis at December 31, 2018 are presented in the following table: 
At December 31, 2018
 
Quoted prices
in active
markets for
identical assets
(liabilities)
(level 1)

 
Significant
other observable inputs
(level 2)

 
Significant unobservable
inputs
(level 3)

 
Total

Non-recurring valuations:
 
 
 
 
 
 
 
 
Financial assets:
 
 
 
 
 
 
 
 
Other real estate owned
 
$
—

 
$
—

 
$
2,266

 
$
2,266

Impaired Loans(1):
 
 
 
 
 
 
 
 
Commercial and industrial
 
$
—

 
$
—

 
$
732

 
$
732

Construction
 
—

 
—

 
832

 
832

Residential real estate:
 
 
 
 
 
 
 
 
1-4 family mortgage
 
—

 
—

 
146

 
146

Commercial real estate:
 
 
 
 
 
 
 
 
Owner occupied
 
—

 
—

 
87

 
87

Non-owner occupied
 
—

 
—

 
6,921

 
6,921

Total
 
$
—

 
$
—

 
$
8,718

 
$
8,718


(1) Includes both impaired non-purchased loans and collateral-dependent PCI loans.
There were no transfers between Level 1, 2 or 3 during the periods presented.
The following table provides a reconciliation for assets and liabilities measured at fair value on a recurring basis using significant unobservable inputs, or Level 3 inputs, during the six months ended June 30, 2019 and 2018. There was no activity during the three months ended June 30, 2019 and 2018.
 
 
Available-for-sale
securities
 
 
 
Six Months Ended June 30,
 
 
 
2019

 
2018

Balance at beginning of period
 
$
—

 
$
3,604

Reclassification of equity securities without a readily determinable fair value to other assets
 
—

 
(3,604
)
Balance at end of period
 
$
—

 
$
—


The following table presents information as of June 30, 2019 about significant unobservable inputs (Level 3) used in the valuation of assets measured at fair value on a nonrecurring basis:
Financial instrument
 
Fair Value
 
Valuation technique
 
Significant Unobservable inputs
 
Range of
inputs
Impaired loans(1)
 
$
4,424

 
Valuation of collateral
 
Discount for comparable sales
 
0%-30%
Other real estate owned
 
$
4,613

 
Appraised value of property less costs to sell
 
Discount for costs to sell
 
0%-15%
(1) Includes both impaired non-purchased loans and collateral-dependent PCI loans.
The following table presents information as of December 31, 2018 about significant unobservable inputs (Level 3) used in the valuation of assets measured at fair value on a nonrecurring basis:
Financial instrument
 
Fair Value
 
Valuation technique
 
Significant Unobservable inputs
 
Range of
inputs
Impaired loans(1)
 
$
8,718

 
Valuation of collateral
 
Discount for comparable sales
 
0%-30%
Other real estate owned
 
$
2,266

 
Appraised value of property less costs to sell
 
Discount for costs to sell
 
0%-15%

(1) Includes both impaired non-purchased loans and collateral-dependent PCI loans.
Loans considered impaired are reserved for at the time the loan is identified as impaired taking into account the fair value of the collateral less estimated selling costs. Impaired loans are reviewed and evaluated on at least a quarterly basis for additional impairment and adjusted accordingly, based on changes in market conditions from the time of valuation and management's knowledge of the client and client's business. Other real estate owned acquired in settlement of indebtedness is recorded at fair value of the real estate less estimated costs to sell. Subsequently, it may be necessary to record nonrecurring fair value adjustments for declines in fair value. Any write-downs based on the asset's fair value at the date of foreclosure are charged to the allowance for loan losses. Appraisals for both collateral-dependent impaired loans and other real estate owned are performed by certified general appraisers (for commercial properties) or certified residential appraisers (for residential properties) whose qualifications and licenses have been reviewed and verified by the Company. Once received, a member of the lending administrative department reviews the assumptions and approaches utilized in the appraisal as well as the overall resulting fair value in comparison with independent data sources such as recent market data or industry wide statistics.
Fair value option
The Company elected to measure all loans originated for sale at fair value under the fair value option as permitted under ASC 825. Electing to measure these assets at fair value reduces certain timing differences and better matches the changes in fair value of the loans with changes in the fair value of derivative instruments used to economically hedge them.
Net gains of $2,169 and $962 resulting from fair value changes of mortgage loans held for sale were recorded in income during the three and six months months ended June 30, 2019, respectively, compared to $2,076 and $4,197 during the three and six months ended June 30, 2018, respectively. The amount does not reflect changes in fair values of related derivative instruments used to hedge exposure to market-related risks associated with these mortgage loans. The change in fair value of both loans held for sale and the related derivative instruments are recorded in Mortgage Banking Income in the Consolidated Statements of Income. Election of the fair value option allows the Company to reduce the accounting volatility that would otherwise result from the asymmetry created by accounting for the financial instruments at the lower of cost or fair value and the derivatives at fair value. There were $39,897 and $67,362 of delinquent GNMA loans that had previously been sold at June 30, 2019 and December 31, 2018, respectively. The Company determined there not to be a more-than-trivial benefit based on an analysis of interest rates and an assessment of potential reputational risk associated with these loans. As such, the Company did not record any rebooked GNMA loans on the balance sheet as of June 30, 2019 or December 31, 2018.
The Company’s valuation of loans held for sale incorporates an assumption for credit risk; however, given the short-term period that the Company holds these loans, valuation adjustments attributable to instrument-specific credit risk is nominal. Interest income on loans held for sale measured at fair value is accrued as it is earned based on contractual rates and is reflected in loan interest income in the Consolidated Statements of Income.
The following table summarizes the differences between the fair value and the principal balance for loans held for sale measured at fair value as of June 30, 2019 and December 31, 2018: 
June 30, 2019
 
Aggregate
fair value

 
Aggregate
Unpaid
Principal
Balance

 
Difference

Mortgage loans held for sale measured at fair value
 
$
294,699

 
$
283,226

 
$
11,473

Past due loans of 90 days or more
 
—

 
—

 
—

Nonaccrual loans
 
—

 
—

 
—

 
 
 
 
 
 
 
December 31, 2018
 
 
 
 
 
 
Mortgage loans held for sale measured at fair value
 
$
278,418

 
$
267,907

 
$
10,511

Past due loans of 90 days or more
 
—

 
—

 
—

Nonaccrual loans
 
397

 
397

 
—
v3.19.2
Segment reporting
 6 Months Ended
Jun. 30, 2019
Segment Reporting [Abstract]  
Segment reporting
Segment reporting:
The Company and the Bank are engaged in the business of banking and provide a full range of financial services. The Company determines reportable segments based on the significance of the segment’s operating results to the overall Company, the products and services offered, customer characteristics, processes and service delivery of the segments and the regular financial performance review and allocation of resources by the Chief Executive Officer (“CEO”), the Company’s chief operating decision maker. The Company has identified two distinct reportable segments—Banking and Mortgage. The Company’s primary segment is Banking, which provides a full range of deposit and lending products and services to corporate, commercial and consumer customers. The Company offers full-service conforming residential mortgage products, including conforming residential loans and services through the Mortgage segment utilizing mortgage offices outside of the geographic footprint of the Banking operations. Additionally, the Mortgage segment includes the servicing of residential mortgage loans and the packaging and securitization of loans to governmental agencies. The residential mortgage products and services originated in our Banking footprint and related revenues and expenses are included in our Banking segment. The Company’s mortgage division represents a distinct reportable segment which differs from the Company’s primary business of commercial and retail banking.
The financial performance of the Mortgage segment is assessed based on results of operations reflecting direct revenues and expenses and allocated expenses. This approach gives management a better indication of the operating performance of the segment. When assessing the Banking segment’s financial performance, the CEO utilizes reports with indirect revenues and expenses including but not limited to the investment portfolio, electronic delivery channels and areas that primarily support the banking segment operations. Therefore these are included in the results of the Banking segment. Other indirect revenue and expenses related to general administrative areas are also included in the internal financial results reports of the Banking segment utilized by the CEO for analysis and are thus included for Banking segment reporting. The Mortgage segment utilizes funding sources from the Banking segment in order to fund mortgage loans that are ultimately sold on the secondary market. The Mortgage segment uses the proceeds from loan sales to repay obligations due to the Banking segment.
During the the first quarter of 2019, the Company's Board of Directors approved management's strategic plan to exit its wholesale mortgage delivery channels. On June 7, 2019, the Company completed the sale of its third party origination ("TPO") channel and completed the sale of its correspondent channel on August 1, 2019. The mortgage segment incurred $829 and $1,883 in restructuring and miscellaneous charges during the three and six months ended June 30, 2019 related to these sales.
The following tables provide segment financial information for the three and six months ended June 30, 2019 and 2018 as follows:
Three Months Ended June 30, 2019
 
Banking

 
Mortgage

 
Consolidated

Net interest income
 
$
56,979

 
$
44

 
$
57,023

Provision for loan loss
 
881

 
—

 
881

Mortgage banking income
 
5,451

 
22,875

 
28,326

Change in fair value of mortgage servicing rights, net of hedging(1)
 
—

 
(3,800
)
 
(3,800
)
Other noninterest income
 
8,453

 
—

 
8,453

Depreciation and amortization
 
1,134

 
144

 
1,278

Amortization of intangibles
 
1,254

 
—

 
1,254

Other noninterest mortgage banking expense
 
4,172

 
17,691

 
21,863

Other noninterest expense(2)
 
38,895

 
829

 
39,724

Income before income taxes
 
$
24,547

 
$
455

 
$
25,002

Income tax expense
 
 
 
 
 
6,314

Net income
 
 
 
 
 
18,688

Total assets
 
$
5,552,893

 
$
387,509

 
$
5,940,402

Goodwill(3)
 
168,486

 
—

 
168,486

(1)
Included in mortgage banking income.
(2)
Included $3,783 in merger costs in the Banking segment related to the Atlantic Capital branch acquisition and $829 in the Mortgage segment related to mortgage business restructuring charges.
(3)
Recognized $100 of impairment of goodwill related to the sale of the third party origination channel in the Mortgage segment. See Note 6. Goodwill and intangible assets.
Three Months Ended June 30, 2018
 
Banking

 
Mortgage

 
Consolidated

Net interest income
 
$
51,669

 
$
(152
)
 
$
51,517

Provision for loan loss
 
1,063

 
—

 
1,063

Mortgage banking income
 
6,894

 
23,428

 
30,322

Change in fair value of mortgage servicing rights, net of hedging(1)
 
—

 
(1,778
)
 
(1,778
)
Other noninterest income
 
7,219

 
—

 
7,219

Depreciation and amortization
 
990

 
142

 
1,132

Amortization of intangibles
 
802

 
—

 
802

Other noninterest mortgage banking expense
 
5,649

 
19,440

 
25,089

Other noninterest expense(2)
 
29,335

 
—

 
29,335

Income before income taxes
 
$
27,943

 
$
1,916

 
$
29,859

Income tax expense
 
 
 
 
 
7,794

Net income
 
 
 
 
 
22,065

Total assets
 
$
4,443,469

 
$
479,780

 
$
4,923,249

Goodwill
 
137,090

 
100

 
137,190

(1)
Included in mortgage banking income.
(2)
Included $671 in offering costs in the Banking segment related to the follow-on secondary offering.
Six Months Ended June 30, 2019
 
Banking
 
Mortgage
 
Consolidated
Net interest income
 
$
109,972

 
$
67

 
$
110,039

Provision for loan loss
 
2,272

 
—

 
2,272

Mortgage banking income
 
9,837

 
41,391

 
51,228

Change in fair value of mortgage servicing rights, net of hedging(1)
 
—

 
(5,681
)
 
(5,681
)
Other noninterest income
 
16,471

 
—

 
16,471

Depreciation and amortization
 
2,176

 
274

 
2,450

Amortization of intangibles
 
1,983

 
—

 
1,983

Other noninterest mortgage banking expense
 
7,003

 
35,047

 
42,050

Other noninterest expense(2)
 
70,854

 
1,883

 
72,737

Income before income taxes
 
$
51,992

 
$
(1,427
)
 
$
50,565

Income tax expense
 

 

 
12,289

Net income
 

 

 
38,276

Total assets
 
$
5,552,893

 
$
387,509

 
$
5,940,402

Goodwill(3)
 
168,486

 
—

 
168,486

(1)
Included in mortgage banking income.
(2)
Included $4,404 in merger costs in the Banking segment related to the Atlantic Capital branch acquisition and $1,883 in the Mortgage segment related to mortgage business restructuring charges.
(3)
Recognized $100 of impairment of goodwill related to the sale of the third party origination channel in the Mortgage segment. See Note 6. Goodwill and intangible assets.
Six Months Ended June 30, 2018
 
Banking
 
Mortgage
 
Consolidated
Net interest income
 
$
100,440

 
$
(494
)
 
$
99,946

Provision for loan loss
 
1,380

 
—

 
1,380

Mortgage banking income
 
13,002

 
45,504

 
58,506

Change in fair value of mortgage servicing rights, net of hedging(1)
 
—

 
(3,491
)
 
(3,491
)
Other noninterest income
 
14,023

 
—

 
14,023

Depreciation and amortization
 
1,968

 
270

 
2,238

Amortization of intangibles
 
1,655

 
—

 
1,655

Other noninterest mortgage banking expense
 
10,746

 
38,222

 
48,968

Other noninterest expense(2)
 
59,648

 
—

 
59,648

Income before income taxes
 
$
52,068

 
$
3,027

 
$
55,095

Income tax expense
 
 
 
 
 
13,276

Net income
 
 
 
 
 
41,819

Total assets
 
$
4,443,469

 
$
479,780

 
$
4,923,249

Goodwill
 
137,090

 
100

 
137,190

(1)
Included in mortgage banking income.
(2)
Included $1,193 in merger costs related to the acquisition of the Clayton Banks and $671 in offering costs in the Banking segment related to the follow-on secondary offering.
Our Banking segment provides our Mortgage segment with a warehouse line of credit that is used to fund mortgage loans held for sale. The warehouse line of credit, which eliminated in consolidation, had a prime interest rate of 5.50% and 5.00% as of June 30, 2019 and 2018, respectively, and further limited based on interest income earned by the Mortgage segment. The amount of interest paid by our Mortgage segment to our Banking segment under this warehouse line of credit is recorded as interest income to our Banking segment and as interest expense to our Mortgage segment, both of which are included in the calculation of net interest income for each segment. The amount of interest paid by our Mortgage segment to our Banking segment under this warehouse line of credit was $3,290 and $4,517 for the three months ended June 30, 2019 and 2018, respectively, and $5,848 and $9,025 for the six months ended June 30, 2019 and 2018, respectively.
v3.19.2
Minimum capital requirements
 6 Months Ended
Jun. 30, 2019
Banking and Thrift [Abstract]  
Minimum capital requirements
Minimum capital requirements:
Banks and bank holding companies are subject to regulatory capital requirements administered by federal banking agencies. Capital adequacy guidelines and, additionally for banks, prompt corrective action regulations involve quantitative measures of assets, liabilities, and certain off-balance sheet items calculated under regulatory accounting practices. Capital amounts and classifications are also subject to qualitative judgments by regulators. Failure to meet capital requirements can initiate regulatory action.
Under regulatory guidance for non-advanced approaches institutions, the Bank and Company are required to maintain minimum amounts and ratios of common equity Tier I capital to risk-weighted assets. Additionally, under Basel III rules, the decision was made to opt-out of including accumulated other comprehensive income in regulatory capital. As of June 30, 2019 and December 31, 2018, the Bank and Company met all capital adequacy requirements to which they are subject.
Beginning in 2016, an additional conservation buffer was added to the minimum requirements for capital adequacy
purposes, subject to a three year phase-in period. As of June 30, 2019 and December 31, 2018, the buffer was 2.50% and 1.88%, respectively. The capital conservative buffer was fully phased in on January 1, 2019.
Actual and required capital amounts and ratios are presented below at period-end.
 
 
 
Actual
 
 
For capital adequacy purposes
 
 
Minimum Capital
adequacy with
capital buffer
 
 
To be well capitalized
under prompt corrective
action provisions
 
 
 
Amount

 
Ratio

 
Amount

 
Ratio

 
Amount

 
Ratio

 
Amount

 
Ratio

June 30, 2019
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total Capital (to risk-weighted assets)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
FB Financial Corporation
 
$
588,932

 
11.6
%
 
$
406,160

 
8.0
%
 
$
533,085

 
10.5
%
 
N/A

 
N/A

FirstBank
 
573,107

 
11.3
%
 
405,739

 
8.0
%
 
532,533

 
10.5
%
 
$
507,174

 
10.0
%
Tier 1 Capital (to risk-weighted assets)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
FB Financial Corporation
 
$
558,794

 
11.0
%
 
$
304,797

 
6.0
%
 
$
431,795

 
8.5
%
 
N/A

 
N/A

FirstBank
 
542,969

 
10.7
%
 
304,469

 
6.0
%
 
431,331

 
8.5
%
 
$
405,958

 
8.0
%
Tier 1 Capital (to average assets)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
FB Financial Corporation
 
$
558,794

 
10.0
%
 
$
223,518

 
4.0
%
 
N/A

 
N/A

 
N/A

 
N/A

FirstBank
 
542,969

 
9.7
%
 
223,444

 
4.0
%
 
N/A

 
N/A

 
$
279,305

 
5.0
%
Common Equity Tier 1 Capital (to risk-weighted assets)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
FB Financial Corporation
 
$
528,794

 
10.4
%
 
$
228,805

 
4.5
%
 
$
355,919

 
7.0
%
 
N/A

 
N/A

FirstBank
 
542,969

 
10.7
%
 
228,351

 
4.5
%
 
355,213

 
7.0
%
 
$
329,841

 
6.5
%
 
 
Actual
 
 
For capital adequacy purposes
 
 
Minimum Capital
adequacy with
capital buffer
 
 
To be well capitalized
under prompt corrective
action provisions
 
 
 
Amount

 
Ratio

 
Amount

 
Ratio

 
Amount

 
Ratio

 
Amount

 
Ratio

December 31, 2018
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total Capital (to risk-weighted assets)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
FB Financial Corporation
 
$
582,945

 
13.0
%
 
$
358,735

 
8.0
%
 
$
442,814

 
9.9
%
 
N/A

 
N/A

FirstBank
 
561,327

 
12.5
%
 
359,249

 
8.0
%
 
443,448

 
9.9
%
 
$
449,062

 
10.0
%
Tier 1 Capital (to risk-weighted assets)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
FB Financial Corporation
 
$
554,013

 
12.4
%
 
$
268,071

 
6.0
%
 
$
351,843

 
7.9
%
 
N/A

 
N/A

FirstBank
 
532,395

 
11.9
%
 
268,434

 
6.0
%
 
352,320

 
7.9
%
 
$
357,913

 
8.0
%
Tier 1 Capital (to average assets)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
FB Financial Corporation
 
$
554,013

 
11.4
%
 
$
194,391

 
4.0
%
 
N/A

 
N/A

 
N/A

 
N/A

FirstBank
 
532,395

 
10.9
%
 
195,374

 
4.0
%
 
N/A

 
N/A

 
$
244,218

 
5.0
%
Common Equity Tier 1 Capital (to risk-weighted assets)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
FB Financial Corporation
 
$
524,013

 
11.7
%
 
$
201,543

 
4.5
%
 
$
285,520

 
6.4
%
 
N/A

 
N/A

FirstBank
 
532,395

 
11.9
%
 
201,326

 
4.5
%
 
285,212

 
6.4
%
 
$
290,804

 
6.5
%
v3.19.2
Stock-Based Compensation
 6 Months Ended
Jun. 30, 2019
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Stock-Based Compensation
Stock-Based Compensation
The Company grants restricted stock units under compensation arrangements for the benefit of employees, executive officers, and directors. Restricted stock unit grants are subject to time-based vesting. The total number of restricted stock units granted represents the maximum number of restricted stock units eligible to vest based upon the service conditions set forth in the grant agreements.
The following table summarizes information about vested and unvested restricted stock units, excluding cash-settled EBI units discussed above, outstanding at June 30, 2019 and 2018:
 
 
 
Six Months Ended June 30,
 
 
 
2019
 
 
2018
 
 
 
Restricted Stock
Units
Outstanding

 
Weighted
Average Grant
Date
Fair Value

 
Restricted Stock
Units
Outstanding

 
Weighted
Average Grant
Date
Fair Value

Balance at beginning of period
 
1,140,215

 
$
21.96

 
1,214,325

 
$
19.97

Grants
 
165,761

 
34.03

 
110,466

 
40.02

Released and distributed (vested)
 
(195,755
)
 
25.62

 
(181,903
)
 
22.09

Forfeited/expired
 
(9,581
)
 
24.72

 
(7,060
)
 
21.81

Balance at end of period
 
1,100,640

 
$
25.53

 
1,135,828

 
$
21.59


 
The total fair value of restricted stock units vested and released, excluding cash-settled EBI units, was $482 and $5,015 for the three and six months ended June 30, 2019, respectively, and $404 and $4,018 for the three and six months ended June 30, 2018, respectively.
The compensation cost related to stock grants and vesting of restricted stock units, excluding cash-settled EBI units, was $2,147 and $3,785 for the three and six months ended June 30, 2019, respectively, and $1,861 and $3,819 for the three and six months ended June 30, 2018, respectively. This included $179 and $351 paid to Company independent directors during the three and six months ended June 30, 2019, respectively, and $182 and $359 for the three and six months ended June 30, 2018, respectively, related to independent director grants and compensation elected to be settled in stock. The six months ended June 30, 2018 also includes a one-time expense of $249 related to the modification of vesting terms of certain grants.
As of June 30, 2019 and 2018, there were $14,433 and $14,061, respectively, of total unrecognized compensation cost related to nonvested stock-settled EBI Units and restricted stock units (excluding cash-settled EBI units discussed above) which is expected to be recognized over a weighted-average period of 2.33 years and 2.78 years, respectively. At June 30, 2019 and December 31, 2018, there were $345 and $226, respectively, accrued in other liabilities related to dividends declared to be paid upon vesting and distribution of the underlying RSUs.
Employee Stock Purchase Plan:
In 2016, the Company adopted an employee stock purchase plan (“ESPP”) under which employees, through payroll deductions, are able to purchase shares of Company common stock. The purchase price is 95% of the lower of the market price on the first or last day of the offering period. The maximum number of shares issuable during any offering period is 200,000 shares and a participant may not purchase more than 725 shares during any offering period (and, in any event, no more than $25,000 worth of common stock in any calendar year). There were zero shares issued under the ESPP during the three months ended June 30, 2019 and 2018. During the six months ended June 30, 2019 and 2018, there were 10,613 shares and 16,537 shares of common stock issued under the ESPP, respectively. As of June 30, 2019 and 2018, there were 2,421,743 and 2,444,428 shares available for issuance under the ESPP, respectively.
v3.19.2
Related party transactions
 6 Months Ended
Jun. 30, 2019
Related Party Transactions [Abstract]  
Related party transactions
Related party transactions:
(A) Loans:
The Bank has made and expects to continue to make loans to the directors, certain management and executive officers of the Company and their affiliates in the ordinary course of business, in compliance with regulatory requirements.
An analysis of loans to executive officers, certain management, and directors of the Bank and their affiliates is presented below:
Loans outstanding at January 1, 2019
 
$
32,264

New loans and advances
 
1,566

Change in related party status
 
(9,687
)
Repayments
 
(589
)
Loans outstanding at June 30, 2019
 
$
23,554


 
Unfunded commitments to certain executive officers, certain management and directors and their associates totaled $22,263 and $15,000 at June 30, 2019 and December 31, 2018, respectively.
(B) Deposits:
The Bank held deposits from related parties totaling $275,622 and $287,156 as of June 30, 2019 and December 31, 2018, respectively.
(C) Leases:
The Bank leases various office spaces from entities owned by certain directors of the Company under varying terms. The Company had $102 and $116 in unamortized leasehold improvements related to these leases at June 30, 2019 and December 31, 2018, respectively. These improvements are being amortized over a term not to exceed the length of the lease. Lease expense for these properties totaled $124 and $253 for the three and six months ended June 30, 2019 respectively, and $111 and $259 for the three and six months ended June 30, 2018, respectively.
(D) Aviation time sharing agreement:
Effective May 24, 2016, the Company entered an aviation time sharing agreement with an entity owned by certain directors of the Company. This replaces the previous agreement dated December 21, 2012. During the three and six months ended June 30, 2019 the Company made payments of $70 and $97, respectively, and $53 and $125 during the three and six months ended June 30, 2018, respectively, under these agreements.
(E) Registration rights agreement:
The Company is party to a registration rights agreement with its former majority shareholder entered into in connection with the 2016 IPO, under which the Company is responsible for payment of expenses (other than underwriting discounts and commissions) relating to sales to the public by the shareholder of shares of the Company’s common stock beneficially owned by him. Such expenses include registration fees, legal and accounting fees, and printing costs payable by the Company and expensed when incurred. During the three and six months ended June 30, 2018, the Company paid $0.7 million under this agreement. No such expenses were incurred for the three and six months ended June 30, 2019.
v3.19.2
Basis of presentation (Policies)
 6 Months Ended
Jun. 30, 2019
Accounting Policies [Abstract]  
Earnings per common share
Earnings per share
Basic earnings per common share ("EPS") excludes dilution and is computed by dividing earnings attributable to common shareholders by the weighted average number of common shares outstanding during the period. Diluted EPS includes the dilutive effect of additional potential common shares issuable under the restricted stock units granted but not yet vested and distributable. Diluted EPS is computed by dividing earnings attributable to common shareholders by the weighted average number of common shares outstanding for the period, plus an incremental number of common-equivalent shares computed using the treasury stock method.
Unvested share-based payment awards, which include the right to receive non-forfeitable dividends or dividend equivalents, are considered to participate with common shareholders in undistributed earnings for purposes of computing EPS. Companies that have such participating securities, including the Company, are required to calculate basic and diluted EPS using the two-class method. Certain restricted stock awards granted by the Company include non-forfeitable dividend equivalents and are considered participating securities. Calculations of EPS under the two-class method (i) exclude from the numerator any dividends paid or owed on participating securities and any undistributed earnings considered to be attributable to participating securities and (ii) exclude from the denominator the dilutive impact of the participating securities.
Leases
Leases
The Company leases certain banking, mortgage and operations locations. Effective January 1, 2019, the Company records leases on the balance sheet in the form of a lease liability for the present value of future minimum payments under the lease terms and a right-of-use asset equal to the lease liability adjusted for items such as deferred or prepaid rent, incentive liabilities, leasehold intangibles and any impairment of the right-of-use asset. In determining whether a contract contains a lease, management conducts an analysis at lease inception to ensure an asset was specifically identified and the Company has control of use of the asset. For contracts determined to be leases entered into after January 1, 2019, the Company performs additional analysis to determine whether the lease should be classified as a finance or operating lease. The Company considers a lease to be a finance lease if future minimum lease payments amount to greater than 90% of the asset's fair value or if the lease term is equal to or greater than 75% of the asset's estimated economic useful life. As of June 30, 2019, the Company did not have any leases that were determined to be finance leases. The Company does not record leases on the consolidated balance sheets that are classified as short term (less than one year). Additionally, the Company has not recorded equipment leases or leases in which the Company is the lessor on the consolidated balance sheets as these are not material to the Company.
At lease inception, the Company determines the lease term by adding together the minimum lease term and all optional renewal periods that it is reasonably certain to renew. This determination is at management's full discretion and is made through consideration of the asset, market conditions, competition and entity based economic conditions, among other factors. The lease term is used in the economic life test and also to calculate straight-line rent expense. The depreciable life of leasehold improvements is limited by the estimated lease term, including renewals.
Operating leases are expensed on a straight-line basis over the life of the lease beginning when the lease commences. Rent expense and variable lease expense are included in occupancy and equipment expense on the Company's Consolidated statements of income. The Company's variable lease expense include rent escalators that are based on the Consumer Price Index or market conditions and include items such as common area maintenance, utilities, parking, property taxes, insurance and other costs associated with the lease.
There are no residual value guarantees or restrictions or covenants imposed by leases that will impact the Company's ability to pay dividends or cause the Company to incur additional expenses. The discount rate used in determining the lease liability is based upon borrowing rates for what would be obtained by the Company for similar loans as an incremental rate as of the date of commencement or renewal.
Recently adopted accounting principles and Newly issued not yet effective accounting standards
Recently adopted accounting principles:
Except as set forth below, the Company did not adopt any new accounting principles that were not disclosed in the Company's 2018 audited consolidated financial statements included on Form 10-K.
In February 2016, the FASB issued ASU 2016-02, “Leases (Topic 842).” The update requires lessees to recognize right-of-use assets and lease liabilities for all leases not considered short term leases. The provisions of the update also include (a) defining direct costs to only include those incremental costs that would not have been incurred if the lease had not been entered into, (b) circumstances under which the transfer contract in a sale-leaseback transaction should be accounted for as the sale of an asset by the seller-lessee and the purchase of an asset by the buyer-lessor, and (c) additional disclosure requirements. The provisions of this update became effective for the Company on January 1, 2019.
In July 2018, the FASB issued ASU 2018-10, “Codification Improvements to Topic 842, Leases” and 2018-11, “Leases (Topic 842): Targeted Improvements”. ASU No. 2018-10 provides improvements related to ASU No. 2016-02 to provide corrections or improvements to a number of areas within FASB ASC Topic 842 and provides additional and optional transition method to adopt the new lease standard. ASU No. 2018-11 allows entities to initially apply the new lease standard at the adoption date and recognize a cumulative-effect adjustment to the opening balance of retained earnings in the period of adoption. ASU 2018-11 also allows lessors to not separate non-lease components from the associated lease component if certain conditions are met. The amendments in these updates became effective for the Company on January 1, 2019.
FB Financial Corporation elected the optional transition method permitted by ASU 2018-11. Under this method, an entity shall recognize and measure leases that exist at the application date and prior comparative periods are not adjusted. Additionally, the Company elected to adopt the practical expedients allowed under the updates and therefore did not reassess 1) whether any expired or existing contract contain leases, 2) the lease classification for any expired or existing leases, or 3) initial direct costs for any existing leases.
On January 1, 2019, the Company adopted these updates and recognized a right of use asset ("ROU") and lease liability of $32,545 and $34,876, respectively, and recorded a cumulative effect adjustment to retained earnings of $1,309, net of deferred taxes of $461, in addition to adjustments to leasehold improvements of $1,022 and a reclassification from a previously-recognized lease intangible asset for $460. The difference between the asset and liability amounts represents lease incentive liabilities, deferred rent and a lease intangible asset that was reclassified to the ROU asset upon adoption. This adoption did not have a significant impact on the Company's consolidated statements of income and did not have an impact on the Company's cash flows. Disclosures required by the update are presented in Note 7, "Leases" in the notes to the consolidated financial statements.
In March 2017, the FASB issued ASU 2017-08, “Receivables - Nonrefundable Fees and Other Costs (Subtopic 310-20): Premium Amortization on Purchased Callable Debt Securities." The amendments in this ASU shorten the amortization period for certain callable debt securities held at a premium. Specifically, the amendments require the premium to be amortized to the earliest call date. The amendments do not require an accounting change for securities held at a discount, which continue to be amortized to maturity. Public business entities were required to prospectively apply the amendments in this ASU to annual periods beginning after December 15, 2018, including interim periods. The adoption of this update did not have an impact on the Company's consolidated financial statements.
Newly issued not yet effective accounting standards:
In June 2016, the FASB issued ASU 2016-13, “Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments.” ASU 2016-13 requires the measurement of all expected credit losses for financial assets held at the reporting date based on historical experience, current conditions, and reasonable and supportable forecasts and requires enhanced disclosures related to the significant estimates and judgments used in estimating credit losses, as well as the credit quality and underwriting standards of an organization’s portfolio. The new model will require institutions to calculate all probable and estimable losses that are expected to be incurred through the financial asset's entire life through a provision for credit losses, including loans obtained as a result of any acquisition not deemed to be purchased credit deteriorated (PCD).
CECL also requires the allowance for credit losses for PCD loans to be determined in a manner similar to that of other financial assets measured at amortized cost; however, the initial allowance will be added to the purchase price rather than recorded as provision expense. The disclosure of credit quality indicators related to the amortized cost of financing receivables will be further disaggregated by year of origination (or vintage). Institutions are to apply the changes through a cumulative-effect adjustment to their retained earnings as of the beginning of the first reporting period in which the standard is effective.
ASU 2016-13 will become effective for interim and annual periods beginning after December 15, 2019.  Management established a CECL implementation working group, which includes the appropriate members of management to evaluate the impact the adoption of this ASU will have on the Company's financial statements and disclosures and determine the most appropriate method of implementing the amendments in this ASU. The working group selected a software vendor and is working on validating the accuracy and completeness of data being used as inputs into the model based on the methodology selected for the Company's identified loan segments. During remainder of 2019, the Company is focused on refining modeling segments and assumptions in addition to finalizing and documenting internal controls and accounting and credit policy elections, building disclosures, and model validation. Parallel processing of our existing allowance for loan losses model with the CECL model will occur during the second half of 2019, depending on how model completion and validation progresses. The Company is currently evaluating the impact of this adoption on its financial statements and disclosures and currently expects to record a one-time adjustment to retained earnings to increase the allowance for loan losses, however the magnitude of this adjustment cannot currently be reasonably quantified. Management will disclose the impact on Form 10-K for the year ended December 31, 2019.
In December 2018, the OCC, the Board of Governors of the Federal Reserve System, and the FDIC approved a final rule to address changes to credit loss accounting under GAAP, including banking organizations’ implementation of CECL. The final rule provides banking organizations the option to phase in over a three-year period the day-one adverse effects on regulatory capital that may result from the adoption of the new accounting standard.
In January 2017, the FASB issued ASU 2017-04, “Intangibles – Goodwill and Other (Topic 350) – Simplifying the Test for Goodwill Impairment.” ASU 2017-04 eliminates step two from the goodwill impairment test. Instead, an entity will perform only step one of its quantitative goodwill impairment test by comparing the fair value of a reporting unit with its carrying amount, and then recognizing an impairment charge for the amount by which the carrying amount exceeds the reporting unit's fair value; however, the loss recognized should not exceed the total amount of goodwill allocated to that reporting unit. An entity will still have the option to perform a qualitative assessment for a reporting unit to determine if the quantitative step one impairment test is necessary. ASU 2017-04 will become effective for interim and annual periods beginning after December 15, 2019. Early adoption is permitted, including in an interim period, for impairment tests performed after January 1, 2017. Management does not expect adoption of this standard to have any impact on the Company's consolidated financial statements or disclosures.
In June 2018, FASB issued ASU 2018-07, "Compensation-Stock Compensation (Topic 718): Improvements to Nonemployee Share-Based Payment Accounting", which expands the scope of Topic 718 to include share-based payment transactions for acquiring goods and services from nonemployees. Consistent with the accounting for employee share-based payment awards, nonemployee share-based payment awards will be measured at grant-date fair value of the equity instruments obligated to be issued when the good has been delivered or the service rendered and any other conditions necessary to earn the right to benefit from the instruments have been satisfied. This ASU is effective for all entities for fiscal years beginnings after December 15, 2019, and interim periods within fiscal years beginning after December 15, 2020. Early adoption is permitted. The Company does not expect adoption of this standard to have a significant impact on the consolidated financial statements or disclosures.
In August 2018, the FASB issued "Accounting Standards Update 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework - Changes to the Disclosure Requirements for Fair Value Measurements." This update is part of the disclosure framework project and eliminates certain disclosure requirements for fair value measurements, requires entities to disclose new information, and modifies existing disclosure requirements. The new disclosure guidance is effective for fiscal years beginning after December 15, 2019. Early adoption is permitted. The Company is currently evaluating the impact this change will have on its consolidated financial statements and disclosures.
In March 2019, FASB issued ASU 2019-01, "Leases (Topic 842): Codification Improvements", which align the guidance for fair value of the underlying assets by lessors that are not manufacturers or dealers in Topic 842 with that of existing guidance. As a result, the fair value of the underlying asset at lease commencement is its cost, reflecting any volume or trade discounts that may apply.
However, if there has been a significant lapse of time between when the underlying asset is acquired and when the lease commences, the definition of fair value in Topic 820, Fair Value Measurement should be applied. ASU No. 2019-01 also requires lessors within the scope of Topic 942, "Financial Services—Depository and Lending", to present all “principal payments received under leases” within investing activities. The amendments in this update become effective for fiscal years beginning after December 15, 2019. Early adoption is permitted. The Company is currently evaluating the impact of this change on its consolidated financial statements and disclosures, but it is not expected to have a material impact.
In April 2019, the FASB issued ASU No. 2019-04, "Financial Instruments—Credit Losses (Topic 326), Derivatives and Hedging (Topic 815), and Financial Instruments (Topic 825): Codification Improvements"  The amendments related to Topic 326 address accrued interest, transfers between classifications or categories for loans and debt securities, recoveries, vintage disclosures, and contractual extensions and renewal options and will become effective for annual periods and interim periods within those annual periods beginning after December 15, 2019.  The improvements and clarifications related to Topic 815 address partial-term fair value hedges of interest-rate risk, amortization, and disclosure of fair value hedge basis adjustments and consideration of hedged contractually specified interest rate under the hypothetical method and will become effective for the annual reporting period beginning January 1, 2020.  The amendments related to Topic 825 contain various improvements to ASU 2016-01, including scope; held-to-maturity debt securities fair value disclosures; and remeasurement of equity securities at historical exchange rates and will become effective for fiscal years and interim periods beginning after December 15, 2019.  The Company is currently evaluating the impact of adopting the new guidance on the consolidated financial statements, but it is not expected to have a material impact.
In May 2019, the FASB issued ASU No. 2019-05, "Financial Instruments—Credit Losses (Topic 326): Targeted Transition Relief."  These amendments provide targeted transition relief allowing entities to irrevocably elect the fair value option, on an instrument-by-instrument basis, for certain financial assets (excluding held-to-maturity debt securities) previously measured at amortized cost.  The amendments in this update become effective for annual periods and interim periods within those annual periods beginning after December 15, 2019.  The Company is currently evaluating the impact of adopting the new guidance on the consolidated financial statements, but it is not expected to have a material impact.
v3.19.2
Basis of presentation (Tables)
 6 Months Ended
Jun. 30, 2019
Accounting Policies [Abstract]  
Summary of Basic and Diluted Earnings Per Common Share
The following is a summary of the basic and diluted earnings per common share calculation for each of the periods presented:
 
 
Three Months Ended June 30,
 
 
Six Months Ended June 30,
 
 
 
2019

 
2018

 
2019

 
2018

Basic earnings per common share calculation:
 
 
 
 
 
 
 
 
Net income
 
$
18,688

 
$
22,065

 
$
38,276

 
$
41,819

Dividends paid on and undistributed earnings allocated to
participating securities
 
(100
)
 
(117
)
 
(205
)
 
(223
)
Earnings attributable to common shareholders
 
$
18,588

 
$
21,948

 
$
38,071

 
$
41,596

Weighted-average basic shares outstanding
 
30,859,596

 
30,678,732

 
30,823,341

 
30,646,189

Basic earnings per common share
 
$
0.60

 
$
0.72

 
$
1.24

 
$
1.36

Diluted earnings per common share:
 


 


 
 
 
 
Earnings attributable to common shareholders
 
18,588

 
21,948

 
38,071

 
41,596

Weighted-average basic shares outstanding
 
30,859,596

 
30,678,732

 
30,823,341

 
30,646,189

Weighted-average diluted shares contingently issuable
 
518,422

 
615,312

 
525,625

 
629,657

Weighted-average diluted shares outstanding
 
31,378,018

 
31,294,044

 
31,348,966

 
31,275,846

Diluted earnings per common share
 
$
0.59

 
$
0.70

 
$
1.21

 
$
1.33
v3.19.2
Mergers and acquisitions (Tables)
 6 Months Ended
Jun. 30, 2019
Business Combinations [Abstract]  
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed
The following tables present the preliminary fair values of assets acquired and liabilities assumed as of the April 5, 2019 acquisition date and an allocation of the consideration to net assets acquired:
 
 
As of April 5, 2019

 
 
As Recorded by FB Financial Corporation (1)

Assets
 
 
Cash and cash equivalents(1)
 
$
207,822

Loans, net of fair value adjustments
 
374,966

Premises and equipment
 
9,650

Operating lease right-of-use assets
 
4,133

Core deposit intangible
 
10,760

Accrued interest and other assets
 
1,271

Total assets
 
$
608,602

Liabilities
 
 
Deposits
 
 
Noninterest-bearing
 
$
118,405

Interest-bearing checking
 
112,225

Money markey and savings
 
211,135

Customer time deposits
 
147,112

Total deposits
 
588,877

Customer repurchase agreements
 
9,572

Operating lease liabilities
 
4,133

Accrued expenses and other liabilities
 
626

Total liabilities
 
603,208

Total net assets acquired
 
$
5,394
Schedule of Consideration Paid and Allocation of Purchase Price to Net Assets Acquired
Consideration:
 
 
Deposit premium
 
$
36,790

Preliminary allocation of consideration:
 
 
Fair value of net assets acquired
 
$
5,394

Goodwill (preliminary)
 
31,396

Total consideration
 
$
36,790
Schedule of Loans and Debt Securities Acquired with Deteriorated Credit Quality
The following table presents the fair value of acquired purchased credit impaired loans accounted for in accordance with FASB ASC 310-30 "Loans and Debt Securities Acquired with Deteriorated Credit Quality" from the Atlantic Capital branch acquisition as of the acquisition date:
 
 
April 5, 2019

Contractually-required principal and interest
 
$
11,374

Nonaccretable difference
 
1,615

Best estimate of contractual cash flows expected to be collected
 
9,759

Accretable yield
 
1,167

Fair value
 
$
8,592
Business Acquisition, Pro Forma Information
The pro forma information is not indicative of what would have occurred had the acquisition taken place on January 1, 2018 and does not include the effect of all cost-saving or revenue-enhancing strategies.
 
 
Three months ended June 30,
 
 
Six months ended June 30,
 
 
 
2019

 
2018

 
2019

 
2018

Net interest income
 
$
57,023

 
$
55,609

 
$
113,610

 
$
108,687

Total revenues
 
$
90,002

 
$
92,237

 
$
176,413

 
$
179,411

Net income
 
$
18,688

 
$
21,843

 
$
37,191

 
$
41,474
v3.19.2
Investment securities (Tables)
 6 Months Ended
Jun. 30, 2019
Investments, Debt and Equity Securities [Abstract]  
Summary of Amortized Cost of Securities and Fair Values
The amortized cost of securities and their fair values at June 30, 2019 and December 31, 2018 are shown below: 
 
 
June 30, 2019
 
 
 
Amortized cost

 
Gross unrealized gains

 
Gross unrealized losses

 
Fair Value

Investment Securities
 
 
 
 
 
 
 
 
Available-for-sale debt securities
 
 
 
 
 
 
 
 
U.S. government agency securities
 
$
1,000

 
$
—

 
$
(4
)
 
$
996

Mortgage-backed securities - residential
 
516,458

 
4,786

 
(3,739
)
 
517,505

Municipals, tax exempt
 
143,049

 
6,319

 
(63
)
 
149,305

Treasury securities
 
7,405

 
4

 
—

 
7,409

Total
 
$
667,912

 
$
11,109

 
$
(3,806
)
 
$
675,215

 
 
December 31, 2018
 
 
 
Amortized cost

 
Gross unrealized gains

 
Gross unrealized losses

 
Fair Value

Investment Securities
 
 
 
 
 
 
 
 
Available-for-sale debt securities
 
 
 
 
 
 
 
 
U.S. government agency securities
 
$
1,000

 
$
—

 
$
(11
)
 
$
989

Mortgage-backed securities - residential
 
520,654

 
1,191

 
(13,265
)
 
508,580

Municipals, tax exempt
 
138,994

 
1,565

 
(1,672
)
 
138,887

Treasury securities
 
7,385

 
—

 
(143
)
 
7,242

Total
 
$
668,033

 
$
2,756

 
$
(15,091
)
 
$
655,698
Schedule of Amortized Cost and Fair Value of Debt Securities by Contractual Maturity
Therefore, mortgage-backed securities are not included in the maturity categories in the following maturity summary.
 
 
June 30, 2019
 
 
December 31, 2018
 
 
 
Available-for-sale
 
 
Available-for-sale
 
 
 
Amortized cost

 
Fair value

 
Amortized cost

 
Fair value

Due in one year or less
 
$
6,436

 
$
6,474

 
$
15,883

 
$
16,028

Due in one to five years
 
13,504

 
13,632

 
13,806

 
13,740

Due in five to ten years
 
15,948

 
16,404

 
18,539

 
18,387

Due in over ten years
 
115,566

 
121,200

 
99,151

 
98,963

 
 
151,454

 
157,710

 
147,379

 
147,118

Mortgage-backed securities - residential
 
516,458

 
517,505

 
520,654

 
508,580

Total debt securities
 
$
667,912

 
$
675,215

 
$
668,033

 
$
655,698
Summary of Summary of Sales and Other Dispositions of Available-for-Sale Securities
Sales and other dispositions of available-for-sale securities were as follows:
 
Three Months Ended June 30,
 
Six Months Ended June 30,
 
 
2019

 
2018

 
2019

 
2018

Proceeds from sales
$
—

 
$
—

 
$
1,758

 
$
221

Proceeds from maturities, prepayments and calls
29,353

 
18,005

 
50,167

 
34,508

Gross realized gains
5

 
1

 
6

 
1

Gross realized losses
—

 
—

 
7

 
9
Schedule of Gross Unrealized Losses
The following tables show gross unrealized losses at June 30, 2019 and December 31, 2018, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position:
 
 
 
June 30, 2019
 
 
 
Less than 12 months
 
 
12 months or more
 
 
Total
 
 
 
Fair Value

 
Unrealized Loss

 
Fair Value

 
Unrealized Loss

 
Fair Value

 
Unrealized loss

U.S. government agency securities
 
$
—

 
$
—

 
$
996

 
$
(4
)
 
$
996

 
$
(4
)
Mortgage-backed securities - residential
 
14,291

 
(30
)
 
267,587

 
(3,709
)
 
281,878

 
(3,739
)
Municipals, tax exempt
 
1,057

 
(1
)
 
7,407

 
(62
)
 
8,464

 
(63
)
Treasury securities
 
—

 
—

 
—

 
—

 
—

 
—

Total
 
$
15,348

 
$
(31
)
 
$
275,990

 
$
(3,775
)
 
$
291,338

 
$
(3,806
)
 
 
December 31, 2018
 
 
 
Less than 12 months
 
 
12 months or more
 
 
Total
 
 
 
Fair Value

 
Unrealized Loss

 
Fair Value

 
Unrealized Loss

 
Fair Value

 
Unrealized loss

U.S. government agency securities
 
$
—

 
$
—

 
$
989

 
$
(11
)
 
$
989

 
$
(11
)
Mortgage-backed securities - residential
 
60,347

 
(478
)
 
335,769

 
(12,787
)
 
396,116

 
(13,265
)
Municipals, tax exempt
 
27,511

 
(366
)
 
25,343

 
(1,306
)
 
52,854

 
(1,672
)
Treasury securities
 
—

 
—

 
7,242

 
(143
)
 
7,242

 
(143
)
Total
 
$
87,858

 
$
(844
)
 
$
369,343

 
$
(14,247
)
 
$
457,201

 
$
(15,091
)
v3.19.2
Loans and allowance for loan losses (Tables)
 6 Months Ended
Jun. 30, 2019
Receivables [Abstract]  
Loans Outstanding by Major Lending Classification
Loans outstanding at June 30, 2019 and December 31, 2018, by major lending classification are as follows:
 
 
June 30,

 
December 31,

 
 
2019

 
2018

Commercial and industrial
 
$
989,288

 
$
867,083

Construction
 
525,954

 
556,051

Residential real estate:
 
 
 
 
1-to-4 family mortgage
 
688,984

 
555,815

Residential line of credit
 
218,006

 
190,480

Multi-family mortgage
 
82,945

 
75,457

Commercial real estate:
 
 
 
 
Owner occupied
 
602,723

 
493,524

Non-owner occupied
 
922,150

 
700,248

Consumer and other
 
259,466

 
228,853

Gross loans
 
4,289,516

 
3,667,511

Less: Allowance for loan losses
 
(30,138
)
 
(28,932
)
Net loans
 
$
4,259,378

 
$
3,638,579
Schedule of Changes Value of Accretable Yield of PCI Loans
The following table presents changes in the value of the accretable yield for PCI loans for the periods indicated.
 
 
Three Months Ended June 30,
 
 
Six Months Ended June 30,
 
 
 
2019

 
2018

 
2019

 
2018

Balance at the beginning of period
 
$
(14,814
)
 
$
(16,955
)
 
$
(16,587
)
 
$
(17,682
)
Additions through the branch acquisition of Atlantic Capital Bank
 
(1,167
)
 
—

 
(1,167
)
 
—

Principal reductions and other reclassifications from nonaccretable difference
 
30

 
(2,158
)
 
250

 
(3,452
)
Accretion
 
1,705

 
2,639

 
3,888

 
4,840

Changes in expected cash flows
 
(616
)
 
(3,695
)
 
(1,246
)
 
(3,875
)
Balance at end of period
 
$
(14,862
)
 
$
(20,169
)
 
$
(14,862
)
 
$
(20,169
)
Allowance for Loan Losses by Portfolio Segment and Related Investment in Loans Net of Unearned Interest
The following provides the allowance for loan losses by portfolio segment and the related investment in loans net of unearned interest for the three and six months ended June 30, 2019 and 2018:
 
 
Commercial
and industrial

 
Construction

 
1-to-4
family
residential
mortgage

 
Residential
line of credit

 
Multi-
family
residential
mortgage

 
Commercial
real estate
owner
occupied

 
Commercial
real estate
non-owner occupied

 
Consumer
and other

 
Total

Three Months Ended June 30, 2019
Beginning balance -
March 31, 2019
 
$
5,514

 
$
9,758

 
$
3,295

 
$
731

 
$
539

 
$
3,098

 
$
4,583

 
$
2,296

 
$
29,814

Provision for loan losses
 
(550
)
 
(109
)
 
(30
)
 
106

 
78

 
409

 
(105
)
 
1,082

 
881

Recoveries of loans
previously charged-off
 
38

 
6

 
24

 
21

 
—

 
5

 
—

 
119

 
213

Loans charged off
 
(79
)
 
—

 
(1
)
 
(103
)
 
—

 
—

 
—

 
(587
)
 
(770
)
Ending balance -
June 30, 2019
 
$
4,923

 
$
9,655

 
$
3,288

 
$
755

 
$
617

 
$
3,512

 
$
4,478

 
$
2,910

 
$
30,138

Six Months Ended June 30, 2019
Beginning balance - December 31, 2018
 
$
5,348

 
$
9,729

 
$
3,428

 
$
811

 
$
566

 
$
3,132

 
$
4,149

 
$
1,769

 
$
28,932

Provision for loan losses
 
(217
)
 
(81
)
 
(95
)
 
33

 
51

 
288

 
329

 
1,964

 
2,272

Recoveries of loans previously charged-off
 
50

 
7

 
37

 
46

 
—

 
92

 
—

 
343

 
575

Loans charged off
 
(258
)
 
—

 
(82
)
 
(135
)
 
—

 
—

 
—

 
(1,166
)
 
(1,641
)
Ending balance - June 30, 2019
 
$
4,923

 
$
9,655

 
$
3,288

 
$
755

 
$
617

 
$
3,512

 
$
4,478

 
$
2,910

 
$
30,138

 
 
 
Commercial
and industrial

 
Construction

 
1-to-4
family
residential mortgage

 
Residential
line of credit

 
Multi-
family
residential mortgage

 
Commercial
real estate
owner
occupied

 
Commercial
real estate
non-owner occupied

 
Consumer
and other

 
Total

Three Months Ended June 30, 2018
Beginning balance -
March 31, 2018
 
$
4,578

 
$
7,866

 
$
3,122

 
$
1,165

 
$
449

 
$
3,014

 
$
2,753

 
$
1,459

 
$
24,406

Provision for loan losses
 
39

 
310

 
218

 
(414
)
 
(58
)
 
168

 
519

 
281

 
1,063

Recoveries of loans
previously charged-off
 
135

 
862

 
43

 
44

 
—

 
108

 
—

 
107

 
1,299

Loans charged off
 
(5
)
 
(15
)
 
(5
)
 
—

 
—

 
—

 
—

 
(396
)
 
(421
)
Ending balance -
June 30, 2018
 
$
4,747

 
$
9,023

 
$
3,378

 
$
795

 
$
391

 
$
3,290

 
$
3,272

 
$
1,451

 
$
26,347

Six Months Ended June 30, 2018
 

Beginning balance - December 31, 2017
 
$
4,461

 
$
7,135

 
$
3,197

 
$
944

 
$
434

 
$
3,558

 
$
2,817

 
$
1,495

 
$
24,041

Provision for loan losses
 
241

 
789

 
188

 
(200
)
 
(43
)
 
(399
)
 
404

 
400

 
1,380

Recoveries of loans previously charged-off
 
270

 
1,114

 
58

 
71

 
—

 
131

 
51

 
313

 
2,008

Loans charged off
 
(225
)
 
(15
)
 
(65
)
 
(20
)
 
—

 
—

 
—

 
(757
)
 
(1,082
)
Ending balance -
June 30, 2018
 
$
4,747

 
$
9,023

 
$
3,378

 
$
795

 
$
391

 
$
3,290

 
$
3,272

 
$
1,451

 
$
26,347

 
Allocation of Allowance for Loan Losses by Loan Category Broken Out Between Loans Individually and Collectively Evaluated for Impairment
The following tables provides the allocation of the allowance for loan losses by loan category broken out between loans individually evaluated for impairment, loans collectively evaluated for impairment and loans acquired with deteriorated credit quality as of June 30, 2019 and December 31, 2018:
 
 
June 30, 2019
 
 
 
Commercial
and 
industrial

 
Construction

 
1-to-4
family
residential mortgage

 
Residential
line of credit

 
Multi-
family
residential mortgage

 
Commercial
real estate
owner
occupied

 
Commercial
real estate
non-owner occupied

 
Consumer
and other

 
Total

Amount of allowance allocated to:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Individually evaluated for impairment
 
$
11

 
$
—

 
$
15

 
$
—

 
$
—

 
$
38

 
$
299

 
$
338

 
$
701

Collectively evaluated for impairment
 
4,802

 
9,608

 
3,202

 
755

 
617

 
3,458

 
3,873

 
1,777

 
28,092

Acquired with deteriorated credit quality
 
110

 
47

 
71

 
—

 
—

 
16

 
306

 
795

 
1,345

Ending balance - June 30, 2019
 
$
4,923

 
$
9,655

 
$
3,288

 
$
755

 
$
617

 
$
3,512

 
$
4,478

 
$
2,910

 
$
30,138

 
 
December 31, 2018
 
 
 
Commercial
and 
industrial

 
Construction

 
1-to-4
family
residential mortgage

 
Residential
line of credit

 
Multi-
family
residential mortgage

 
Commercial
real estate
owner
occupied

 
Commercial
real estate
non-owner occupied

 
Consumer
and other

 
Total

Amount of allowance allocated to:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Individually evaluated for impairment
 
$
3

 
$
—

 
$
7

 
$
—

 
$
—

 
$
53

 
$
205

 
$
—

 
$
268

Collectively evaluated for impairment
 
5,247

 
9,677

 
3,205

 
811

 
566

 
3,066

 
3,628

 
1,583

 
27,783

Acquired with deteriorated credit quality
 
98

 
52

 
216

 
—

 
—

 
13

 
316

 
186

 
881

Ending balance - December 31, 2018
 
$
5,348

 
$
9,729

 
$
3,428

 
$
811

 
$
566

 
$
3,132

 
$
4,149

 
$
1,769

 
$
28,932

 
Amount of Loans by Loan Category Broken Between Loans Individually and Collectively Evaluated for Impairment
The following tables provides the amount of loans by loan category broken between loans individually evaluated for impairment, loans collectively evaluated for impairment and loans acquired with deteriorated credit quality as of June 30, 2019 and December 31, 2018:
 
 
June 30, 2019
 
 
 
Commercial
and 
 industrial

 
Construction

 
1-to-4
family
residential mortgage

 
Residential line of credit

 
Multi-
family
residential mortgage

 
Commercial
real estate
owner
occupied

 
Commercial
real estate
non-owner occupied

 
Consumer and other

 
Total

Loans, net of unearned income
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Individually evaluated for impairment
 
$
3,914

 
$
1,216

 
$
853

 
$
609

 
$
—

 
$
1,980

 
$
6,539

 
$
567

 
$
15,678

Collectively evaluated for impairment
 
983,542

 
520,062

 
665,730

 
217,323

 
82,945

 
594,120

 
902,221

 
240,445

 
4,206,388

Acquired with deteriorated credit quality
 
1,832

 
4,676

 
22,401

 
74

 
—

 
6,623

 
13,390

 
18,454

 
67,450

Ending balance - June 30, 2019
 
$
989,288

 
$
525,954

 
$
688,984

 
$
218,006

 
$
82,945

 
$
602,723

 
$
922,150

 
$
259,466

 
$
4,289,516

 
 
 
December 31, 2018
 
 
 
Commercial
and 
industrial

 
Construction

 
1-to-4
family
residential mortgage

 
Residential line of credit

 
Multi-
family
residential mortgage

 
Commercial
real estate
owner
occupied

 
Commercial
real estate
non-owner occupied

 
Consumer
and other

 
Total

Loans, net of unearned income
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Individually evaluated
for impairment
 
$
1,847

 
$
1,221

 
$
987

 
$
245

 
$
—

 
$
2,608

 
$
6,735

 
$
73

 
$
13,716

Collectively evaluated
for impairment
 
863,788

 
549,075

 
535,451

 
190,235

 
75,457

 
484,900

 
677,247

 
208,643

 
3,584,796

Acquired with deteriorated credit quality
 
1,448

 
5,755

 
19,377

 
—

 
—

 
6,016

 
16,266

 
20,137

 
68,999

Ending balance - December 31, 2018
 
$
867,083

 
$
556,051

 
$
555,815

 
$
190,480

 
$
75,457

 
$
493,524

 
$
700,248

 
$
228,853

 
$
3,667,511
Credit Quality Indicators by Portfolio Class
The following tables show credit quality indicators by portfolio class at June 30, 2019 and December 31, 2018:
June 30, 2019
 
Pass

 
Watch

 
Substandard

 
Total

Loans, excluding purchased credit impaired loans
 
 
 
 
 
 
 
 
Commercial and industrial
 
$
919,900

 
$
57,599

 
$
9,957

 
$
987,456

Construction
 
512,525

 
7,426

 
1,327

 
521,278

Residential real estate:
 
 
 
 
 
 
 
 
1-to-4 family mortgage
 
646,636

 
7,341

 
12,606

 
666,583

Residential line of credit
 
213,362

 
1,864

 
2,706

 
217,932

Multi-family mortgage
 
82,876

 
69

 
—

 
82,945

Commercial real estate:
 
 
 
 
 
 
 
 
Owner occupied
 
559,544

 
23,251

 
13,305

 
596,100

Non-owner occupied
 
890,293

 
11,418

 
7,049

 
908,760

Consumer and other
 
236,005

 
2,656

 
2,351

 
241,012

Total loans, excluding purchased credit impaired loans
 
$
4,061,141

 
$
111,624

 
$
49,301

 
$
4,222,066

Purchased credit impaired loans
 
 
 
 
 
 
 
 
Commercial and industrial
 
$
—

 
$
1,101

 
$
731

 
$
1,832

Construction
 
—

 
3,747

 
929

 
4,676

Residential real estate:
 
 
 
 
 
 
 
 
1-to-4 family mortgage
 
—

 
17,365

 
5,036

 
22,401

Residential line of credit
 
—

 
—

 
74

 
74

Multi-family mortgage
 
—

 
—

 
—

 
—

Commercial real estate:
 
 
 
 
 
 
 
 
Owner occupied
 
—

 
4,613

 
2,010

 
6,623

Non-owner occupied
 
—

 
5,520

 
7,870

 
13,390

Consumer and other
 
—

 
15,577

 
2,877

 
18,454

Total purchased credit impaired loans
 
$
—

 
$
47,923

 
$
19,527

 
$
67,450

Total loans
 
$
4,061,141

 
$
159,547

 
$
68,828

 
$
4,289,516

December 31, 2018
 
Pass

 
Watch

 
Substandard

 
Total

Loans, excluding purchased credit impaired loans
 
 
 
 
 
 
 
 
Commercial and industrial
 
$
804,447

 
$
52,624

 
$
8,564

 
$
865,635

Construction
 
543,953

 
5,012

 
1,331

 
550,296

Residential real estate:
 
 
 
 
 
 
 
 
1-to-4 family mortgage
 
519,541

 
8,697

 
8,200

 
536,438

Residential line of credit
 
186,753

 
1,039

 
2,688

 
190,480

Multi-family mortgage
 
75,381

 
76

 
—

 
75,457

Commercial real estate:
 
 
 
 
 
 
 
 
Owner occupied
 
456,694

 
16,765

 
14,049

 
487,508

Non-owner occupied
 
667,447

 
8,881

 
7,654

 
683,982

Consumer and other
 
204,279

 
2,763

 
1,674

 
208,716

Total loans, excluding purchased credit impaired loans
 
$
3,458,495

 
$
95,857

 
$
44,160

 
$
3,598,512

Purchased credit impaired loans
 
 
 
 
 
 
 
 
Commercial and industrial
 
$
—

 
$
964

 
$
484

 
$
1,448

Construction
 
—

 
3,229

 
2,526

 
5,755

Residential real estate:
 
 
 
 
 
 
 
 
1-to-4 family mortgage
 
—

 
14,681

 
4,696

 
19,377

Residential line of credit
 
—

 
—

 
—

 
—

Multi-family mortgage
 
—

 
—

 
—

 
—

Commercial real estate:
 
 
 
 
 
 
 
 
Owner occupied
 
—

 
4,110

 
1,906

 
6,016

Non-owner occupied
 
—

 
8,266

 
8,000

 
16,266

Consumer and other
 
—

 
15,422

 
4,715

 
20,137

Total purchased credit impaired loans
 
$
—

 
$
46,672

 
$
22,327

 
$
68,999

Total loans
 
$
3,458,495

 
$
142,529

 
$
66,487

 
$
3,667,511
Past Due Loans
The following tables provide the period-end amounts of loans that are past due thirty to eighty-nine days, past due ninety or more days and still accruing interest, loans not accruing interest and loans current on payments accruing interest by category at June 30, 2019 and December 31, 2018:
June 30, 2019
 
30-89 days
past due

 
90 days or more
and accruing
interest

 
Non-accrual
loans

 
Purchased Credit Impaired loans

 
Loans current
on payments
and accruing
interest

 
Total

Commercial and industrial
 
$
2,421

 
$
122

 
$
366

 
$
1,832

 
$
984,547

 
$
989,288

Construction
 
—

 
18

 
266

 
4,676

 
520,994

 
525,954

Residential real estate:
 
 
 
 
 
 
 
 
 
 
 
 
1-to-4 family mortgage
 
4,188

 
891

 
5,927

 
22,401

 
655,577

 
688,984

Residential line of credit
 
1,106

 
552

 
790

 
74

 
215,484

 
218,006

Multi-family mortgage
 
—

 
—

 
—

 
—

 
82,945

 
82,945

Commercial real estate:
 
 
 
 
 
 
 
 
 
 
 
 
Owner occupied
 
990

 
—

 
1,376

 
6,623

 
593,734

 
602,723

Non-owner occupied
 
518

 
57

 
6,663

 
13,390

 
901,522

 
922,150

Consumer and other
 
1,972

 
460

 
747

 
18,454

 
237,833

 
259,466

Total
 
$
11,195

 
$
2,100

 
$
16,135

 
$
67,450

 
$
4,192,636

 
$
4,289,516

 
December 31, 2018
 
30-89 days
past due

 
90 days or more
and accruing
interest

 
Non-accrual
loans

 
Purchased Credit Impaired loans

 
Loans current
on payments
and accruing
interest

 
Total

Commercial and industrial
 
$
999

 
$
65

 
$
438

 
$
1,448

 
$
864,133

 
$
867,083

Construction
 
109

 
—

 
283

 
5,755

 
549,904

 
556,051

Residential real estate:
 
 
 
 
 
 
 
 
 
 
 
 
1-to-4 family mortgage
 
4,919

 
737

 
2,704

 
19,377

 
528,078

 
555,815

Residential line of credit
 
726

 
957

 
804

 
—

 
187,993

 
190,480

Multi-family mortgage
 
—

 
—

 
—

 
—

 
75,457

 
75,457

Commercial real estate:
 
 
 
 
 
 
 
 
 
 
 
 
Owner occupied
 
407

 
197

 
2,423

 
6,016

 
484,481

 
493,524

Non-owner occupied
 
61

 
77

 
6,885

 
16,266

 
676,959

 
700,248

Consumer and other
 
1,987

 
1,008

 
148

 
20,137

 
205,573

 
228,853

Total
 
$
9,208

 
$
3,041

 
$
13,685

 
$
68,999

 
$
3,572,578

 
$
3,667,511
Impaired Loans Recognized
Impaired loans recognized in conformity with ASC 310 at June 30, 2019 and December 31, 2018, segregated by class, were as follows:
June 30, 2019
 
Recorded
investment

 
Unpaid
principal

 
Related
allowance

With a related allowance recorded:
 
 
 
 
 
 
Commercial and industrial
 
$
3,136

 
$
3,136

 
$
11

Construction
 
—

 
—

 
—

Residential real estate:
 
 
 
 
 
 
1-to-4 family mortgage
 
266

 
324

 
15

Residential line of credit
 
—

 
—

 
—

Multi-family mortgage
 
—

 
—

 
—

Commercial real estate:
 
 
 
 
 
 
Owner occupied
 
185

 
218

 
38

Non-owner occupied
 
5,490

 
5,524

 
299

Consumer and other
 
499

 
499

 
338

Total
 
$
9,576

 
$
9,701

 
$
701

With no related allowance recorded
 
 
 
 
 
 
Commercial and industrial
 
$
778

 
$
935

 
$
—

Construction
 
1,216

 
1,263

 
—

Residential real estate:
 
 
 
 
 
 
1-to-4 family mortgage
 
587

 
899

 
—

Residential line of credit
 
609

 
628

 
—

Multi-family mortgage
 
—

 
—

 
—

Commercial real estate:
 
 
 
 
 
 
Owner occupied
 
1,795

 
2,567

 
—

Non-owner occupied
 
1,049

 
1,781

 
—

Consumer and other
 
68

 
68

 
—

Total
 
$
6,102

 
$
8,141

 
$
—

Total impaired loans
 
$
15,678

 
$
17,842

 
$
701

December 31, 2018
 
Recorded
investment

 
Unpaid
principal

 
Related
allowance

With a related allowance recorded:
 
 
 
 
 
 
Commercial and industrial
 
$
618

 
$
732

 
$
3

Construction
 
—

 
—

 
—

Residential real estate:
 
 
 
 
 
 
1-to-4 family mortgage
 
145

 
145

 
7

Residential line of credit
 
—

 
—

 
—

Multi-family mortgage
 
—

 
—

 
—

Commercial real estate:
 
 
 
 
 
 
Owner occupied
 
560

 
641

 
53

Non-owner occupied
 
5,686

 
5,686

 
205

Consumer and other
 
—

 
—

 
—

Total
 
$
7,009

 
$
7,204

 
$
268

With no related allowance recorded:
 
 

 
 

 
 

Commercial and industrial
 
$
1,229

 
$
1,281

 
$
—

Construction
 
1,221

 
1,262

 
—

Residential real estate:
 
 
 
 
 
 
1-to-4 family mortgage
 
842

 
1,151

 
—

Residential line of credit
 
245

 
249

 
—

Multi-family mortgage
 
—

 
—

 
—

Commercial real estate:
 
 
 
 
 
 
Owner occupied
 
2,048

 
2,780

 
—

Non-owner occupied
 
1,049

 
1,781

 
—

Consumer and other
 
73

 
73

 
—

Total
 
$
6,707

 
$
8,577

 
$
—

Total impaired loans
 
$
13,716

 
$
15,781

 
$
268

Average recorded investment and interest income on a cash basis recognized during the three and six months ended June 30, 2019 and 2018 on impaired loans, segregated by class, were as follows:
 
 
Three Months Ended
 
 
Six Months Ended
 
June 30, 2019
 
Average recorded investment

 
Interest income recognized (cash basis)

 
Average recorded investment

 
Interest income recognized (cash basis)

With a related allowance recorded:
 
 
 
 
 
 
 
 
Commercial and industrial
 
$
3,161

 
$
67

 
$
1,877

 
$
105

Construction
 
—

 
—

 
—

 
—

Residential real estate:
 
 
 
 
 
 
 
 
1-to-4 family mortgage
 
336

 
9

 
206

 
11

Residential line of credit
 
—

 
—

 
—

 
—

Multi-family mortgage
 
—

 
—

 
—

 
—

Commercial real estate:
 
 
 
 
 
 
 
 
Owner occupied
 
187

 
4

 
373

 
6

Non-owner occupied
 
5,570

 
34

 
5,588

 
34

Consumer and other
 
250

 
19

 
250

 
19

Total
 
$
9,504

 
$
133

 
$
8,294

 
$
175

With no related allowance recorded:
 
 
 
 
 
 
 
 
Commercial and industrial
 
$
819

 
$
11

 
$
1,004

 
$
25

Construction
 
1,218

 
4

 
1,219

 
52

Residential real estate:
 
 
 
 
 
 
 
 
1-to-4 family mortgage
 
528

 
18

 
715

 
26

Residential line of credit
 
607

 
—

 
427

 
2

Multi-family mortgage
 
—

 
—

 
—

 
—

Commercial real estate:
 
 
 
 
 
 
 
 
Owner occupied
 
1,830

 
34

 
1,922

 
62

Non-owner occupied
 
1,049

 
—

 
1,049

 
—

Consumer and other
 
70

 
1

 
71

 
3

Total
 
$
6,121

 
$
68

 
$
6,407

 
$
170

Total impaired loans
 
$
15,625

 
$
201

 
$
14,701

 
$
345

June 30, 2018
 

 

 

 

With a related allowance recorded:
 

 

 

 

Commercial and industrial
 
$
103

 
$
2

 
$
103

 
$
3

Construction
 
—

 
—

 
—

 
—

Residential real estate:
 

 

 

 

1-to-4 family mortgage
 
189

 
2

 
191

 
4

Residential line of credit
 
—

 
—

 
—

 
—

Multi-family mortgage
 
—

 
—

 
—

 
—

Commercial real estate:
 

 

 

 

Owner occupied
 
670

 
21

 
799

 
27

Non-owner occupied
 
71

 
—

 
72

 
2

Consumer and other
 
—

 
—

 
—

 
—

Total
 
$
1,033

 
$
25

 
$
1,165

 
$
36

With no related allowance recorded:
 

 

 

 

Commercial and industrial
 
$
1,683

 
$
43

 
$
1,780

 
$
59

Construction
 
1,283

 
6

 
1,285

 
36

Residential real estate:
 

 

 

 

1-to-4 family mortgage
 
1,309

 
31

 
1,192

 
44

Residential line of credit
 
—

 
—

 
—

 
—

Multi-family mortgage
 
958

 
12

 
965

 
24

Commercial real estate:
 

 

 

 

Owner occupied
 
1,539

 
28

 
1,594

 
60

Non-owner occupied
 
1,310

 
—

 
1,313

 
7

Consumer and other
 
28

 
1

 
26

 
1

Total
 
$
8,110

 
$
121

 
$
8,155

 
$
231

Total impaired loans
 
$
9,143

 
$
146

 
$
9,320

 
$
267
Financial Effect of TDRs
The following tables present the financial effect of TDRs recorded during the periods indicated. There were no new TDRs added during the three months ended June 30, 2019.
Six Months Ended June 30, 2019
 
Number of loans

 
Pre-modification outstanding recorded investment

 
Post-modification outstanding recorded investment

 
Charge offs and specific reserves

Commercial and industrial
 
2

 
$
3,188

 
$
3,188

 
$
—

Total
 
2

 
$
3,188

 
$
3,188

 
$
—


Three Months Ended June 30, 2018
 
Number of loans

 
Pre-modification outstanding recorded investment

 
Post-modification outstanding recorded investment

 
Charge offs and specific reserves

Commercial and industrial
 
2

 
$
887

 
$
887

 
$
—

Total
 
2

 
$
887

 
$
887

 
$
—


Six Months Ended June 30, 2018
 
Number of loans
 
Pre-modification outstanding recorded investment

 
Post-modification outstanding recorded investment

 
Charge offs and specific reserves

Commercial and industrial
 
2
 
$
887

 
$
887

 
$
—

Residential real estate:
 
 
 
 
 
 
 
 
1-4 family mortgage
 
1
 
249

 
249

 
—

Consumer and other
 
1
 
5

 
5

 
—

Total
 
4
 
$
1,141

 
$
1,141

 
$
—
v3.19.2
Other real estate owned (Tables)
 6 Months Ended
Jun. 30, 2019
Real Estate [Abstract]  
Summary of Other Real Estate Owned
The following table summarizes the other real estate owned for the three and six months ended June 30, 2019 and 2018: 
 
Three Months Ended
 
 
Six Months Ended
 
 
 
June 30,
 
 
June 30,
 
 
 
2019

 
2018

 
2019

 
2018

Balance at beginning of period
 
$12,828
 
$
15,334

 
$
12,643

 
$
16,442

Transfers from loans
 
924

 
384

 
2,030

 
1,014

Transfers from premises and equipment
 
2,640

 
—

 
2,640

 
—

Properties sold
 
(1,148
)
 
(777
)
 
(1,864
)
 
(2,209
)
Gain on sale of other real estate owned
 
329

 
51

 
322

 
8

Loans provided for sales of other real estate owned
 
—

 
(325
)
 
(166
)
 
(445
)
Write-downs and partial liquidations
 
(52
)
 
(28
)
 
(84
)
 
(171
)
Balance at end of period
 
$15,521
 
$
14,639

 
$
15,521

 
$
14,639
v3.19.2
Goodwill and intangible assets (Tables)
 6 Months Ended
Jun. 30, 2019
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Goodwill
The following table summarizes changes in goodwill during the six months ended June 30, 2019. There was no such activity during the six months ended June 30, 2018.
 
 
Goodwill

Balance at December 31, 2018
 
$
137,190

Addition from acquisition of Atlantic Capital branches (see Note 2)
 
31,396

Impairment due to sale of TPO mortgage delivery channel
 
(100
)
Balance at June 30, 2019
 
$
168,486
Schedule of Core Deposit and Other Intangibles
The change in core deposit and other intangibles during the three and six months ended June 30, 2019 and 2018 is as follows:
 
 
Core deposit and other intangibles
 
 
 
Three Months Ended
 
 
Six Months Ended
 
 
 
June 30,
 
 
June 30,
 
 
 
2019

 
2018

 
2019

 
2018

Beginning Balance
 
$
10,439

 
$
14,027

 
$
11,628

 
$
14,902

Addition of core deposit intangible from acquisition of Atlantic Capital branches (see Note 2)
 
10,760

 
—

 
10,760

 
—

Reclassification of leasehold intangible(1)
 
—

 
—

 
(460
)
 
—

Less: amortization expense(2)
 
(1,254
)
 
(824
)
 
(1,983
)
 
(1,699
)
Ending Balance
 
$
19,945

 
$
13,203

 
$
19,945

 
$
13,203


(1) The Company adopted ASU 2016-02 "Leases" (Topic 842) on January 1, 2019 and reclassified $460 of leasehold intangibles to Operating lease right-of-use asset.
(2) The three and six months ended June 30, 2018 includes $22 and $44, respectively, of amortization expense related to leasehold intangibles included in occupancy and equipment expense.
Schedule of Estimated Aggregate Amortization Expense of Core Deposit and Other Intangibles
The estimated aggregate future amortization expense of the core deposit and other intangibles is as follows:
Remainder of 2019
 
$
2,356

December 31, 2020
 
4,262

December 31, 2021
 
3,663

December 31, 2022
 
2,973

December 31, 2023
 
2,247

Thereafter
 
4,444

 
 
$
19,945
v3.19.2
Leases (Tables)
 6 Months Ended
Jun. 30, 2019
Leases [Abstract]  
Lease, Cost
Information related to the Company's operating leases is presented below:
 
June 30,

 
2019

Right-of-use assets
$
35,872

Lease liabilities
38,722

Weighted average remaining lease term (in years)
15.63

Weighted average discount rate
3.42
%
The components of lease expense included in Occupancy and equipment expense were as follows:
 
Three Months Ended

 
Six Months Ended

 
June 30, 2019

 
June 30, 2019

Operating lease cost
$
1,421

 
$
2,533

Short-term lease cost
260

 
484

Variable lease cost
99

 
199

Total lease cost
$
1,780

 
$
3,216
Lessee, Operating Lease, Liability, Maturity
A maturity analysis of operating lease liabilities and a reconciliation of undiscounted cash flows to the total operating lease liability is as follows:
 
June 30,

 
2019

Lease payments due on or before:
 
June 30, 2020
$
5,703

June 30, 2021
5,465

June 30, 2022
4,854

June 30, 2023
4,082

June 30, 2024
3,728

Thereafter
26,433

Total undiscounted cash flows
50,265

Discount on cash flows
(11,543
)
     Total lease liability
$
38,722
v3.19.2
Mortgage servicing rights (Tables)
 6 Months Ended
Jun. 30, 2019
Transfers and Servicing of Financial Assets [Abstract]  
Schedule of Changes in Mortgage Servicing Rights
Changes in the Company’s mortgage servicing rights were as follows for three and six months ended June 30, 2019 and 2018:
 
 
Three Months Ended June 30,
 
 
Six Months Ended June 30,
 
 
 
2019

 
2018

 
2019

 
2018

Carrying value at beginning of period
 
$
64,031

 
$
93,160

 
$
88,829

 
$
76,107

Capitalization
 
11,212

 
16,304

 
19,932

 
29,814

Sales
 
—

 
—

 
(29,160
)
 
—

Change in fair value:
 
 
 
 
 
 
 
 
Due to pay-offs/pay-downs
 
(3,305
)
 
(2,207
)
 
(5,100
)
 
(5,267
)
Due to change in valuation inputs or assumptions
 
(5,558
)
 
2,192

 
(8,121
)
 
8,795

Carrying value at period end
 
$
66,380

 
$
109,449

 
$
66,380

 
$
109,449
Schedule of Servicing Income and Expense Included in Mortgage Banking Income
The following table summarizes servicing income and expense included in mortgage banking income and other noninterest expense within the Mortgage Segment operating results, respectively, for the three and six months ended June 30, 2019 and 2018, respectively: 
 
 
Three Months Ended June 30,
 
 
Six Months Ended June 30,
 
 
 
2019

 
2018

 
2019

 
2018

Servicing income:
 
 
 
 
 
 
 
 
Servicing income
 
$
4,052

 
$
5,604

 
$
8,803

 
$
10,397

Change in fair value of mortgage servicing rights
 
(8,863
)
 
(15
)
 
(13,221
)
 
3,528

Change in fair value of derivative hedging instruments
 
5,063

 
(1,763
)
 
7,540

 
(7,019
)
Servicing income
 
252

 
3,826

 
3,122

 
6,906

Servicing expenses
 
1,485

 
2,078

 
3,229

 
3,873

Net servicing (loss) income
 
$
(1,233
)
 
$
1,748

 
$
(107
)
 
$
3,033
Schedule of Data and Key Economic Assumptions Related to Mortgage Servicing Rights
Data and key economic assumptions related to the Company’s mortgage servicing rights as of June 30, 2019 and December 31, 2018 are as follows: 
 
 
June 30,

 
December 31,

 
 
2019


2018

Unpaid principal balance
 
$
5,850,557

 
$
6,755,114

Weighted-average prepayment speed (CPR)
 
11.37
%
 
8.58
%
Estimated impact on fair value of a 10% increase
 
$
(2,881
)
 
$
(2,072
)
Estimated impact on fair value of a 20% increase
 
$
(5,546
)
 
$
(4,006
)
Discount rate
 
9.24
%
 
10.45
%
Estimated impact on fair value of a 100 bp increase
 
$
(2,656
)
 
$
(2,505
)
Estimated impact on fair value of a 200 bp increase
 
$
(5,102
)
 
$
(4,807
)
Weighted-average coupon interest rate
 
4.40
%
 
4.21
%
Weighted-average servicing fee (basis points)
 
29

 
30

Weighted-average remaining maturity (in months)
 
318

 
325
v3.19.2
Income taxes (Tables)
 6 Months Ended
Jun. 30, 2019
Income Tax Disclosure [Abstract]  
Schedule of Allocation of Federal and State Income Taxes between Current and Deferred Portions
An allocation of federal and state income taxes between current and deferred portions is presented below:
 
 
Three Months Ended June 30,
 
 
 
2019

 
2018

Current
 
$
6,546

 
$
2,195

Deferred
 
(232
)
 
5,599

Total
 
$
6,314

 
$
7,794

 
 
 
Six Months Ended June 30,
 
 
 
2019

 
2018

Current
 
$
16,740

 
$
2,195

Deferred
 
(4,451
)
 
11,081

Total
 
$
12,289

 
$
13,276
Schedule of Reconciliation of Income Taxes Computed at the United States Federal Statutory Tax Rates to the Provision for Income Taxes
Federal income tax expense differs from the statutory federal rate of 21% for the three and six months ended June 30, 2019 and 2018 due to the following:
 
 
Three Months Ended June 30,
 
 
 
2019
 
 
2018
 
Federal taxes calculated at statutory rate
 
$
5,251

21.0
 %
 
$
6,270

21.0
 %
Increase (decrease) resulting from:
 
 
 
 
 
 
State taxes, net of federal benefit
 
1,205

4.8
 %
 
1,543

5.2
 %
Benefit of equity based compensation
 
(1
)
0.0
 %
 
(15
)
(0.1
)%
Municipal interest income, net of interest disallowance
 
(223
)
(0.9
)%
 
(207
)
(0.7
)%
Bank owned life insurance
 
(15
)
—
 %
 
(13
)
(0.1
)%
Stock offering costs
 
—

0.0
 %
 
141

0.5
 %
Other
 
97

0.4
 %
 
75

0.3
 %
Income tax expense, as reported
 
$
6,314

25.3
 %
 
$
7,794

26.1
 %
 
 
 
 
 
 
 
 
 
Six Months Ended June 30,
 
 
 
2019
 
 
2018
 
Federal taxes calculated at statutory rate
 
$
10,619

21.0
 %
 
$
11,570

21.0
 %
Increase (decrease) resulting from:
 
 
 
 
 
 
State taxes, net of federal benefit
 
2,343

4.6
 %
 
2,686

4.9
 %
Benefit of equity based compensation
 
(393
)
(0.8
)%
 
(751
)
(1.5
)%
Municipal interest income, net of interest disallowance
 
(439
)
(0.9
)%
 
(408
)
(0.7
)%
Bank owned life insurance
 
(27
)
—
 %
 
(25
)
—
 %
Stock offering costs
 
—

—
 %
 
141

0.3
 %
Other
 
186

0.4
 %
 
63

0.1
 %
Income tax expense, as reported
 
$
12,289

24.3
 %
 
$
13,276

24.1
 %
Schedule of Net Deferred Tax liability
The components of the net deferred tax liability at June 30, 2019 and December 31, 2018, are as follows: 
 
 
June 30,

 
December 31,

 
 
2019

 
2018

Deferred tax assets:
 
 

 
 

Allowance for loan losses
 
$
7,853

 
$
7,539

Operating lease liability
 
10,090

 
—

Amortization of core deposit intangible
 
1,197

 
1,012

Deferred compensation
 
4,851

 
5,878

Unrealized loss on available-for-sale debt securities
 
100

 
3,299

Other
 
2,011

 
1,998

Subtotal
 
26,102

 
19,726

Deferred tax liabilities:
 
 

 
 

FHLB stock dividends
 
(550
)
 
(550
)
Operating lease - right of use asset
 
(9,806
)
 
—

Depreciation
 
(4,615
)
 
(4,812
)
Cash flow hedges
 
(2,252
)
 
(736
)
Mortgage servicing rights
 
(17,296
)
 
(23,146
)
Other
 
(8,474
)
 
(7,145
)
Subtotal
 
(42,993
)
 
(36,389
)
Net deferred tax liability
 
$
(16,891
)
 
$
(16,663
)
v3.19.2
Commitments and contingencies (Tables)
 6 Months Ended
Jun. 30, 2019
Commitments and Contingencies Disclosure [Abstract]  
Summary of Financial instruments with Off-Balance Sheet Credit Risk
The same credit policies are used to make such commitments as are used for loans, including obtaining collateral at exercise of the commitment. 
 
 
June 30,

 
December 31,

 
 
2019

 
2018

Commitments to extend credit, excluding interest rate lock commitments
 
$
1,191,641

 
$
1,032,390

Letters of credit
 
17,525

 
19,024

Balance at end of period
 
$
1,209,166

 
$
1,051,414
Summary of Allowance for Loan Repurchases or Indemnifications
In connection with the sale of mortgage loans to third party investors,
v3.19.2
Derivatives (Tables)
 6 Months Ended
Jun. 30, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Derivative Financial Instruments
The following table provides details on the Company’s derivative financial instruments as of the dates presented:
 
 
June 30, 2019
 
 
 
Notional Amount

 
Asset

 
Liability

Not designated as hedging:
 
 
 
 
 
 
Interest rate contracts
 
$
388,118

 
$
14,714

 
$
14,714

Forward commitments
 
704,588

 
—

 
4,216

Interest rate-lock commitments
 
608,730

 
9,041

 
—

Futures contracts
 
189,000

 
619

 
—

Option contracts
 
12,500

 
33

 
—

Total
 
$
1,902,936

 
$
24,407

 
$
18,930


 
 
December 31, 2018
 
 
 
Notional Amount

 
Asset

 
Liability

Not designated as hedging:
 
 
 
 
 
 
Interest rate contracts
 
$
295,333

 
$
6,679

 
$
6,679

Forward commitments
 
474,208

 
—

 
4,958

Interest rate-lock commitments
 
318,706

 
6,241

 
—

Futures contracts
 
166,000

 
649

 
—

Options contracts
 
3,800

 
26

 
—

Total
 
$
1,258,047

 
$
13,595

 
$
11,637

 
 
 
June 30, 2019
 
 
 
Notional Amount

 
Asset

 
Liability

Designated as hedging:
 
 
 
 
 
 
Interest rate swaps
 
$
30,000

 
$
—

 
$
491


 
 
December 31, 2018
 
 
 
Notional Amount

 
Asset

 
Liability

Designated as hedging:
 
 
 
 
 
 
Interest rate swaps
 
$
30,000

 
$
721

 
$
—
Schedule of Gains (Losses) Included in the Consolidated Statements of Income Related to Derivative Financial Instruments
Gains (losses) included in the Consolidated Statements of Income related to the Company’s derivative financial instruments were as follows:
 
 
Three Months Ended June 30,
 
 
Six Months Ended June 30,
 
 
 
2019

 
2018

 
2019

 
2018

Not designated as hedging instruments (included in mortgage banking income):
 
 
 
 
 
 
 
 
Interest rate lock commitments
 
$
1,875

 
$
(684
)
 
$
3,755

 
$
2,727

Forward commitments
 
(5,264
)
 
635

 
(9,668
)
 
5,953

Futures contracts
 
4,107

 
(1,369
)
 
5,978

 
(3,816
)
Option contracts
 
31

 
(38
)
 
44

 
5

Total
 
$
749

 
$
(1,456
)
 
$
109

 
$
4,869

 
 
Three Months Ended June 30,
 
 
Six Months Ended June 30,
 
 
 
2019

 
2018

 
2019

 
2018

Designated as hedging:
 
 
 
 
 
 
 
 
Amount of gain (loss) reclassified from other comprehensive
income and recognized in interest expense on
borrowings, net of taxes of ($42), $1, ($75), and $2
 
$
119

 
$
(4
)
 
$
213

 
$
(7
)
Gain included in interest expense on borrowings
 
39

 
16

 
94

 
44

Total
 
$
158

 
$
12

 
$
307

 
$
37

The following discloses the amount included in other comprehensive income (loss), net of tax, for derivative instruments designated as cash flow hedges for the periods presented: 
 
 
Three Months Ended June 30,
 
 
Six Months Ended June 30,
 
 
 
2019

 
2018

 
2019

 
2018

Designated as hedging:
 
 
 
 
 
 
 
 
Amount of (loss) gain recognized in other comprehensive
   income, net of tax
 
$
(564
)
 
$
198

 
$
(895
)
 
$
1,469
v3.19.2
Fair value of financial instruments (Tables)
 6 Months Ended
Jun. 30, 2019
Fair Value Disclosures [Abstract]  
Estimated Fair Values of Financial Instruments
The following table contains the estimated fair values and the related carrying values of the Company's financial instruments. Items which are not financial instruments are not included.
 
 
 Fair Value
 
June 30, 2019
 
Carrying amount

 
Level 1

 
Level 2

 
Level 3

 
Total

Financial assets:
 
 
 
 
 
 
 
 
 
 
Cash and cash equivalents
 
$
164,336

 
$
164,336

 
$
—

 
$
—

 
$
164,336

Investment securities
 
678,457

 
—

 
678,457

 
—

 
678,457

Loans, net
 
4,259,378

 
—

 
—

 
4,241,259

 
4,241,259

Loans held for sale
 
294,699

 
—

 
294,699

 
—

 
294,699

Interest receivable
 
17,952

 
—

 
3,315

 
14,637

 
17,952

Mortgage servicing rights
 
66,380

 
—

 
—

 
66,380

 
66,380

Derivatives
 
24,407

 
—

 
24,407

 
—

 
24,407

Financial liabilities:
 
 
 
 
 
 
 
 
 
 
Deposits:
 
 
 
 
 
 
 
 
 
 
Without stated maturities
 
$
3,565,635

 
$
3,565,635

 
$
—

 
$
—

 
$
3,565,635

With stated maturities
 
1,277,191

 
—

 
1,283,608

 
—

 
1,283,608

Securities sold under agreement to
repurchase and federal funds sold
 
41,369

 
41,369

 
—

 
—

 
41,369

Federal Home Loan Bank advances
 
185,000

 
—

 
185,019

 
—

 
185,019

Subordinated debt
 
30,930

 
—

 
30,000

 
—

 
30,000

Interest payable
 
8,759

 
402

 
8,357

 
—

 
8,759

Derivatives
 
19,421

 
—

 
19,421

 
—

 
19,421

 
 
 
 Fair Value
 
December 31, 2018
 
Carrying amount

 
Level 1

 
Level 2

 
Level 3

 
Total

Financial assets:
 
 
 
 
 
 
 
 
 
 
Cash and cash equivalents
 
$
125,356

 
$
125,356

 
$
—

 
$
—

 
$
125,356

Investment securities
 
658,805

 
—

 
658,805

 
—

 
658,805

Loans, net
 
3,638,579

 
—

 
—

 
3,630,500

 
3,630,500

Loans held for sale
 
278,815

 
—

 
278,815

 
—

 
278,815

Interest receivable
 
14,503

 
—

 
2,848

 
11,655

 
14,503

Mortgage servicing rights
 
88,829

 
—

 
—

 
88,829

 
88,829

Derivatives
 
14,316

 
—

 
14,316

 
—

 
14,316

Financial liabilities:
 
 
 
 
 
 
 
 
 
 
Deposits:
 
 
 
 
 
 
 
 
 
 
Without stated maturities
 
$
3,051,972

 
$
3,051,972

 
$
—

 
$
—

 
$
3,051,972

With stated maturities
 
1,119,745

 
—

 
1,122,076

 
—

 
1,122,076

Securities sold under agreement to
repurchase and federal funds sold
 
15,081

 
15,081

 
—

 
—

 
15,081

Federal Home Loan Bank advances
 
181,765

 
—

 
181,864

 
—

 
181,864

Subordinated debt
 
30,930

 
—

 
30,000

 
—

 
30,000

Interest payable
 
5,015

 
530

 
4,485

 
—

 
5,015

Derivatives
 
11,637

 
—

 
11,637

 
—

 
11,637
Balances and Levels of Assets Measured at Fair Value on Recurring Basis
The balances and levels of the assets measured at fair value on a recurring basis at December 31, 2018 are presented in the following table: 
At December 31, 2018
 
Quoted prices
in active
markets for
identical assets
(liabilities)
(level 1)

 
Significant
other
observable
inputs
(level 2)

 
Significant unobservable
inputs
(level 3)

 
Total

Recurring valuations:
 
 
 
 
 
 
 
 
Financial assets:
 
 
 
 
 
 
 
 
Available-for-sale securities:
 
 
 
 
 
 
 
 
U.S. government agency securities
 
$
—

 
$
989

 
$
—

 
$
989

Mortgage-backed securities
 
—

 
508,580

 
—

 
508,580

Municipals, tax-exempt
 
—

 
138,887

 
—

 
138,887

Treasury securities
 
—

 
7,242

 
—

 
7,242

Equity securities
 
—

 
3,107

 
—

 
3,107

Total
 
$
—

 
$
658,805

 
$
—

 
$
658,805

Loans held for sale
 
$
—

 
$
278,815

 
$
—

 
$
278,815

Mortgage servicing rights
 
—

 
—

 
88,829

 
88,829

Derivatives
 
—

 
14,316

 
—

 
14,316

Financial Liabilities:
 
 
 
 
 
 
 
 
Derivatives
 
—

 
11,637

 
—

 
11,637

The balances and levels of the assets measured at fair value on a recurring basis at June 30, 2019 are presented in the following table:
June 30, 2019
 
Quoted prices
in active
markets for
identical assets
(liabilities)
(level 1)

 
Significant
other
observable
inputs
(level 2)

 
Significant unobservable
inputs
(level 3)

 
Total

Recurring valuations:
 
 
 
 
 
 
 
 
Financial assets:
 
 
 
 
 
 
 
 
Available-for-sale securities:
 
 
 
 
 
 
 
 
U.S. government agency securities
 
$
—

 
$
996

 
$
—

 
$
996

Mortgage-backed securities
 
—

 
517,505

 
—

 
517,505

Municipals, tax-exempt
 
—

 
149,305

 
—

 
149,305

Treasury securities
 
—

 
7,409

 
—

 
7,409

Equity securities
 
—

 
3,242

 
—

 
3,242

Total
 
$
—

 
$
678,457

 
$
—

 
$
678,457

Loans held for sale
 
$
—

 
$
294,699

 
$
—

 
$
294,699

Mortgage servicing rights
 
—

 
—

 
66,380

 
66,380

Derivatives
 
—

 
24,407

 
—

 
24,407

Financial Liabilities:
 
 
 
 
 
 
 
 
Derivatives
 
—

 
19,421

 
—

 
19,421
Balances and Levels of Assets Measured at Fair Value on Non-recurring Basis
The balances and levels of the assets measured at fair value on a non-recurring basis at December 31, 2018 are presented in the following table: 
At December 31, 2018
 
Quoted prices
in active
markets for
identical assets
(liabilities)
(level 1)

 
Significant
other observable inputs
(level 2)

 
Significant unobservable
inputs
(level 3)

 
Total

Non-recurring valuations:
 
 
 
 
 
 
 
 
Financial assets:
 
 
 
 
 
 
 
 
Other real estate owned
 
$
—

 
$
—

 
$
2,266

 
$
2,266

Impaired Loans(1):
 
 
 
 
 
 
 
 
Commercial and industrial
 
$
—

 
$
—

 
$
732

 
$
732

Construction
 
—

 
—

 
832

 
832

Residential real estate:
 
 
 
 
 
 
 
 
1-4 family mortgage
 
—

 
—

 
146

 
146

Commercial real estate:
 
 
 
 
 
 
 
 
Owner occupied
 
—

 
—

 
87

 
87

Non-owner occupied
 
—

 
—

 
6,921

 
6,921

Total
 
$
—

 
$
—

 
$
8,718

 
$
8,718


(1) Includes both impaired non-purchased loans and collateral-dependent PCI loans.
The balances and levels of the assets measured at fair value on a non-recurring basis at June 30, 2019 are presented in the following table: 
At June 30, 2019
 
Quoted prices
in active
markets for
identical assets
(liabilities)
(level 1)

 
Significant
other
observable
inputs
(level 2)

 
Significant unobservable
inputs
(level 3)

 
Total

Non-recurring valuations:
 
 
 
 
 
 
 
 
Financial assets:
 
 
 
 
 
 
 
 
Other real estate owned
 
$
—

 
$
—

 
$
4,613

 
$
4,613

Impaired loans(1):
 
 
 
 
 
 
 
 
Commercial and industrial
 
$
—

 
$
—

 
$
3,528

 
$
3,528

Residential real estate:
 
 
 
 
 
 
 
 
1-4 family mortgage
 
—

 
—

 
317

 
317

Commercial real estate:
 
 
 
 
 
 
 
 
Owner occupied
 
—

 
—

 
80

 
80

Consumer and other
 
—

 
—

 
499

 
499

Total
 
$
—

 
$
—

 
$
4,424

 
$
4,424


(1) Includes both impaired non-purchased loans and collateral-dependent PCI loans.
Reconciliation for Assets and Liabilities Measured at Fair Value on Recurring Basis using Significant Unobservable Inputs or Level 3 Inputs
The following table provides a reconciliation for assets and liabilities measured at fair value on a recurring basis using significant unobservable inputs, or Level 3 inputs, during the six months ended June 30, 2019 and 2018. There was no activity during the three months ended June 30, 2019 and 2018.
 
 
Available-for-sale
securities
 
 
 
Six Months Ended June 30,
 
 
 
2019

 
2018

Balance at beginning of period
 
$
—

 
$
3,604

Reclassification of equity securities without a readily determinable fair value to other assets
 
—

 
(3,604
)
Balance at end of period
 
$
—

 
$
—
Information About Significant Unobservable Inputs (Level 3) Used in Valuation of Assets Measured at Fair Value on Nonrecurring Basis
The following table presents information as of June 30, 2019 about significant unobservable inputs (Level 3) used in the valuation of assets measured at fair value on a nonrecurring basis:
Financial instrument
 
Fair Value
 
Valuation technique
 
Significant Unobservable inputs
 
Range of
inputs
Impaired loans(1)
 
$
4,424

 
Valuation of collateral
 
Discount for comparable sales
 
0%-30%
Other real estate owned
 
$
4,613

 
Appraised value of property less costs to sell
 
Discount for costs to sell
 
0%-15%
(1) Includes both impaired non-purchased loans and collateral-dependent PCI loans.
The following table presents information as of December 31, 2018 about significant unobservable inputs (Level 3) used in the valuation of assets measured at fair value on a nonrecurring basis:
Financial instrument
 
Fair Value
 
Valuation technique
 
Significant Unobservable inputs
 
Range of
inputs
Impaired loans(1)
 
$
8,718

 
Valuation of collateral
 
Discount for comparable sales
 
0%-30%
Other real estate owned
 
$
2,266

 
Appraised value of property less costs to sell
 
Discount for costs to sell
 
0%-15%

(1) Includes both impaired non-purchased loans and collateral-dependent PCI loans.
Differences between Fair Value and Principal Balance for Loans Held for Sale Measured at Fair Value
The following table summarizes the differences between the fair value and the principal balance for loans held for sale measured at fair value as of June 30, 2019 and December 31, 2018: 
June 30, 2019
 
Aggregate
fair value

 
Aggregate
Unpaid
Principal
Balance

 
Difference

Mortgage loans held for sale measured at fair value
 
$
294,699

 
$
283,226

 
$
11,473

Past due loans of 90 days or more
 
—

 
—

 
—

Nonaccrual loans
 
—

 
—

 
—

 
 
 
 
 
 
 
December 31, 2018
 
 
 
 
 
 
Mortgage loans held for sale measured at fair value
 
$
278,418

 
$
267,907

 
$
10,511

Past due loans of 90 days or more
 
—

 
—

 
—

Nonaccrual loans
 
397

 
397

 
—
v3.19.2
Segment reporting (Tables)
 6 Months Ended
Jun. 30, 2019
Segment Reporting [Abstract]  
Schedule of Segment Financial Information
The following tables provide segment financial information for the three and six months ended June 30, 2019 and 2018 as follows:
Three Months Ended June 30, 2019
 
Banking

 
Mortgage

 
Consolidated

Net interest income
 
$
56,979

 
$
44

 
$
57,023

Provision for loan loss
 
881

 
—

 
881

Mortgage banking income
 
5,451

 
22,875

 
28,326

Change in fair value of mortgage servicing rights, net of hedging(1)
 
—

 
(3,800
)
 
(3,800
)
Other noninterest income
 
8,453

 
—

 
8,453

Depreciation and amortization
 
1,134

 
144

 
1,278

Amortization of intangibles
 
1,254

 
—

 
1,254

Other noninterest mortgage banking expense
 
4,172

 
17,691

 
21,863

Other noninterest expense(2)
 
38,895

 
829

 
39,724

Income before income taxes
 
$
24,547

 
$
455

 
$
25,002

Income tax expense
 
 
 
 
 
6,314

Net income
 
 
 
 
 
18,688

Total assets
 
$
5,552,893

 
$
387,509

 
$
5,940,402

Goodwill(3)
 
168,486

 
—

 
168,486

(1)
Included in mortgage banking income.
(2)
Included $3,783 in merger costs in the Banking segment related to the Atlantic Capital branch acquisition and $829 in the Mortgage segment related to mortgage business restructuring charges.
(3)
Recognized $100 of impairment of goodwill related to the sale of the third party origination channel in the Mortgage segment. See Note 6. Goodwill and intangible assets.
Three Months Ended June 30, 2018
 
Banking

 
Mortgage

 
Consolidated

Net interest income
 
$
51,669

 
$
(152
)
 
$
51,517

Provision for loan loss
 
1,063

 
—

 
1,063

Mortgage banking income
 
6,894

 
23,428

 
30,322

Change in fair value of mortgage servicing rights, net of hedging(1)
 
—

 
(1,778
)
 
(1,778
)
Other noninterest income
 
7,219

 
—

 
7,219

Depreciation and amortization
 
990

 
142

 
1,132

Amortization of intangibles
 
802

 
—

 
802

Other noninterest mortgage banking expense
 
5,649

 
19,440

 
25,089

Other noninterest expense(2)
 
29,335

 
—

 
29,335

Income before income taxes
 
$
27,943

 
$
1,916

 
$
29,859

Income tax expense
 
 
 
 
 
7,794

Net income
 
 
 
 
 
22,065

Total assets
 
$
4,443,469

 
$
479,780

 
$
4,923,249

Goodwill
 
137,090

 
100

 
137,190

(1)
Included in mortgage banking income.
(2)
Included $671 in offering costs in the Banking segment related to the follow-on secondary offering.
Six Months Ended June 30, 2019
 
Banking
 
Mortgage
 
Consolidated
Net interest income
 
$
109,972

 
$
67

 
$
110,039

Provision for loan loss
 
2,272

 
—

 
2,272

Mortgage banking income
 
9,837

 
41,391

 
51,228

Change in fair value of mortgage servicing rights, net of hedging(1)
 
—

 
(5,681
)
 
(5,681
)
Other noninterest income
 
16,471

 
—

 
16,471

Depreciation and amortization
 
2,176

 
274

 
2,450

Amortization of intangibles
 
1,983

 
—

 
1,983

Other noninterest mortgage banking expense
 
7,003

 
35,047

 
42,050

Other noninterest expense(2)
 
70,854

 
1,883

 
72,737

Income before income taxes
 
$
51,992

 
$
(1,427
)
 
$
50,565

Income tax expense
 

 

 
12,289

Net income
 

 

 
38,276

Total assets
 
$
5,552,893

 
$
387,509

 
$
5,940,402

Goodwill(3)
 
168,486

 
—

 
168,486

(1)
Included in mortgage banking income.
(2)
Included $4,404 in merger costs in the Banking segment related to the Atlantic Capital branch acquisition and $1,883 in the Mortgage segment related to mortgage business restructuring charges.
(3)
Recognized $100 of impairment of goodwill related to the sale of the third party origination channel in the Mortgage segment. See Note 6. Goodwill and intangible assets.
Six Months Ended June 30, 2018
 
Banking
 
Mortgage
 
Consolidated
Net interest income
 
$
100,440

 
$
(494
)
 
$
99,946

Provision for loan loss
 
1,380

 
—

 
1,380

Mortgage banking income
 
13,002

 
45,504

 
58,506

Change in fair value of mortgage servicing rights, net of hedging(1)
 
—

 
(3,491
)
 
(3,491
)
Other noninterest income
 
14,023

 
—

 
14,023

Depreciation and amortization
 
1,968

 
270

 
2,238

Amortization of intangibles
 
1,655

 
—

 
1,655

Other noninterest mortgage banking expense
 
10,746

 
38,222

 
48,968

Other noninterest expense(2)
 
59,648

 
—

 
59,648

Income before income taxes
 
$
52,068

 
$
3,027

 
$
55,095

Income tax expense
 
 
 
 
 
13,276

Net income
 
 
 
 
 
41,819

Total assets
 
$
4,443,469

 
$
479,780

 
$
4,923,249

Goodwill
 
137,090

 
100

 
137,190

(1)
Included in mortgage banking income.
(2)
Included $1,193 in merger costs related to the acquisition of the Clayton Banks and $671 in offering costs in the Banking segment related to the follow-on secondary offering.
v3.19.2
Minimum capital requirements (Tables)
 6 Months Ended
Jun. 30, 2019
Banking and Thrift [Abstract]  
Schedule of Actual and Required Capital Amounts and Ratios
Actual and required capital amounts and ratios are presented below at period-end.
 
 
 
Actual
 
 
For capital adequacy purposes
 
 
Minimum Capital
adequacy with
capital buffer
 
 
To be well capitalized
under prompt corrective
action provisions
 
 
 
Amount

 
Ratio

 
Amount

 
Ratio

 
Amount

 
Ratio

 
Amount

 
Ratio

June 30, 2019
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total Capital (to risk-weighted assets)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
FB Financial Corporation
 
$
588,932

 
11.6
%
 
$
406,160

 
8.0
%
 
$
533,085

 
10.5
%
 
N/A

 
N/A

FirstBank
 
573,107

 
11.3
%
 
405,739

 
8.0
%
 
532,533

 
10.5
%
 
$
507,174

 
10.0
%
Tier 1 Capital (to risk-weighted assets)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
FB Financial Corporation
 
$
558,794

 
11.0
%
 
$
304,797

 
6.0
%
 
$
431,795

 
8.5
%
 
N/A

 
N/A

FirstBank
 
542,969

 
10.7
%
 
304,469

 
6.0
%
 
431,331

 
8.5
%
 
$
405,958

 
8.0
%
Tier 1 Capital (to average assets)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
FB Financial Corporation
 
$
558,794

 
10.0
%
 
$
223,518

 
4.0
%
 
N/A

 
N/A

 
N/A

 
N/A

FirstBank
 
542,969

 
9.7
%
 
223,444

 
4.0
%
 
N/A

 
N/A

 
$
279,305

 
5.0
%
Common Equity Tier 1 Capital (to risk-weighted assets)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
FB Financial Corporation
 
$
528,794

 
10.4
%
 
$
228,805

 
4.5
%
 
$
355,919

 
7.0
%
 
N/A

 
N/A

FirstBank
 
542,969

 
10.7
%
 
228,351

 
4.5
%
 
355,213

 
7.0
%
 
$
329,841

 
6.5
%
 
 
Actual
 
 
For capital adequacy purposes
 
 
Minimum Capital
adequacy with
capital buffer
 
 
To be well capitalized
under prompt corrective
action provisions
 
 
 
Amount

 
Ratio

 
Amount

 
Ratio

 
Amount

 
Ratio

 
Amount

 
Ratio

December 31, 2018
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total Capital (to risk-weighted assets)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
FB Financial Corporation
 
$
582,945

 
13.0
%
 
$
358,735

 
8.0
%
 
$
442,814

 
9.9
%
 
N/A

 
N/A

FirstBank
 
561,327

 
12.5
%
 
359,249

 
8.0
%
 
443,448

 
9.9
%
 
$
449,062

 
10.0
%
Tier 1 Capital (to risk-weighted assets)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
FB Financial Corporation
 
$
554,013

 
12.4
%
 
$
268,071

 
6.0
%
 
$
351,843

 
7.9
%
 
N/A

 
N/A

FirstBank
 
532,395

 
11.9
%
 
268,434

 
6.0
%
 
352,320

 
7.9
%
 
$
357,913

 
8.0
%
Tier 1 Capital (to average assets)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
FB Financial Corporation
 
$
554,013

 
11.4
%
 
$
194,391

 
4.0
%
 
N/A

 
N/A

 
N/A

 
N/A

FirstBank
 
532,395

 
10.9
%
 
195,374

 
4.0
%
 
N/A

 
N/A

 
$
244,218

 
5.0
%
Common Equity Tier 1 Capital (to risk-weighted assets)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
FB Financial Corporation
 
$
524,013

 
11.7
%
 
$
201,543

 
4.5
%
 
$
285,520

 
6.4
%
 
N/A

 
N/A

FirstBank
 
532,395

 
11.9
%
 
201,326

 
4.5
%
 
285,212

 
6.4
%
 
$
290,804

 
6.5
%
v3.19.2
Stock-Based Compensation (Tables)
 6 Months Ended
Jun. 30, 2019
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Summary of Vested and Unvested Restricted Stock Units Outstanding
The following table summarizes information about vested and unvested restricted stock units, excluding cash-settled EBI units discussed above, outstanding at June 30, 2019 and 2018:
 
 
 
Six Months Ended June 30,
 
 
 
2019
 
 
2018
 
 
 
Restricted Stock
Units
Outstanding

 
Weighted
Average Grant
Date
Fair Value

 
Restricted Stock
Units
Outstanding

 
Weighted
Average Grant
Date
Fair Value

Balance at beginning of period
 
1,140,215

 
$
21.96

 
1,214,325

 
$
19.97

Grants
 
165,761

 
34.03

 
110,466

 
40.02

Released and distributed (vested)
 
(195,755
)
 
25.62

 
(181,903
)
 
22.09

Forfeited/expired
 
(9,581
)
 
24.72

 
(7,060
)
 
21.81

Balance at end of period
 
1,100,640

 
$
25.53

 
1,135,828

 
$
21.59
v3.19.2
Related party transactions (Tables)
 6 Months Ended
Jun. 30, 2019
Related Party Transactions [Abstract]  
Schedule of Loans Analysis to Executive Officers, Certain Management, Bank Directors and Their Affiliates
An analysis of loans to executive officers, certain management, and directors of the Bank and their affiliates is presented below:
Loans outstanding at January 1, 2019
 
$
32,264

New loans and advances
 
1,566

Change in related party status
 
(9,687
)
Repayments
 
(589
)
Loans outstanding at June 30, 2019
 
$
23,554
v3.19.2
Basis of presentation - Additional Information (Details)
$ / shares in Units, $ in Thousands
 3 Months Ended 6 Months Ended
Jul. 19, 2019
USD ($)
$ / shares
Jun. 30, 2019
USD ($)
$ / shares
Jun. 30, 2018
$ / shares
shares
Jun. 30, 2019
USD ($)
branch
$ / shares
Jun. 30, 2018
$ / shares
Jan. 01, 2019
USD ($)
Dec. 31, 2018
USD ($)
Jan. 01, 2018
USD ($)
Class of Stock [Line Items]                
Number of full-service branches | branch       65        
Cash dividends declared (USD per share) | $ / shares   $ 0.06 $ 0.08 $ 0.06 $ 0.16      
Operating lease right-of-use assets   $ 35,872   $ 35,872     $ 0  
Operating lease liabilities   38,722   38,722     0  
Cumulative effect of new accounting principal           $ (1,309)   $ 0
Leasehold improvements   92,407   92,407     86,882  
Finite lived intangible assets   $ 19,945   $ 19,945     $ 11,628  
Accounting Standards Update 2016-02                
Class of Stock [Line Items]                
Operating lease right-of-use assets           32,545    
Operating lease liabilities           34,876    
Secondary Public Offering                
Class of Stock [Line Items]                
Common stock sold and issued, shares (in shares) | shares     3,680,000          
Retained earnings                
Class of Stock [Line Items]                
Cumulative effect of new accounting principal           (1,309)   $ (109)
Retained earnings | Accounting Standards Update 2016-02                
Class of Stock [Line Items]                
Cumulative effect of new accounting principal           (1,309)    
Cumulative effect of new accounting principle in period of adoption, net of deferred taxes           461    
Subsequent Event                
Class of Stock [Line Items]                
Cash dividends declared (USD per share) | $ / shares $ 0.08              
Dividends declared $ 2,555              
James W. Ayers                
Class of Stock [Line Items]                
Percentage of voting power (less than)       50.00%        
Lease Agreements | Accounting Standards Update 2016-02                
Class of Stock [Line Items]                
Finite lived intangible assets           460    
Leasehold improvements | Accounting Standards Update 2016-02                
Class of Stock [Line Items]                
Leasehold improvements           $ 1,022    
v3.19.2
Basis of presentation - Schedule of Basic and Diluted Earnings Per Common Share (Details) - USD ($)
$ / shares in Units, $ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
Basic earnings per common share calculation:        
Net income $ 18,688 $ 22,065 $ 38,276 $ 41,819
Dividends paid on and undistributed earnings allocated to participating securities (100) (117) (205) (223)
Earnings attributable to common shareholders $ 18,588 $ 21,948 $ 38,071 $ 41,596
Weighted-average basic shares outstanding (in shares) 30,859,596 30,678,732 30,823,341 30,646,189
Basic earnings per common share (in dollars per share) $ 0.60 $ 0.72 $ 1.24 $ 1.36
Diluted earnings per common share:        
Earnings attributable to common shareholders $ 18,588 $ 21,948 $ 38,071 $ 41,596
Weighted-average basic shares outstanding (in shares) 30,859,596 30,678,732 30,823,341 30,646,189
Weighted-average diluted shares contingently issuable (in shares) 518,422 615,312 525,625 629,657
Weighted-average diluted shares outstanding (in shares) 31,378,018 31,294,044 31,348,966 31,275,846
Diluted earnings per common share (in dollars per share) $ 0.59 $ 0.70 $ 1.21 $ 1.33
v3.19.2
Mergers and acquisitions - Atlantic Capital Bank Narrative (Details)
$ in Thousands
 3 Months Ended 6 Months Ended
Apr. 05, 2019
USD ($)
branch
Jun. 30, 2019
USD ($)
Jun. 30, 2018
USD ($)
Jun. 30, 2019
USD ($)
Jun. 30, 2018
USD ($)
Dec. 31, 2018
USD ($)
Business Acquisition [Line Items]            
Goodwill   $ 168,486 $ 137,190 $ 168,486 $ 137,190 $ 137,190
Merger related expenses   $ 3,783 $ 0 $ 4,404 $ 1,193  
Atlantic Capital Bank            
Business Acquisition [Line Items]            
Transaction value $ 36,790          
Deposits assumed in acquisition $ 588,877          
Deposit premium percentage 6.25%          
Loans, net of fair value adjustments $ 374,966          
Percent of book value for acquired loans 99.32%          
Goodwill $ 31,396          
TENNESSEE | Atlantic Capital Bank            
Business Acquisition [Line Items]            
Number of branches acquired | branch 11          
GEORGIA | Atlantic Capital Bank            
Business Acquisition [Line Items]            
Number of branches acquired | branch 3          
v3.19.2
Mergers and acquisitions - Schedule of Recognized Identified Assets Acquired and Liabilities Assumed (Details) - Atlantic Capital Bank
$ in Thousands
Apr. 05, 2019
USD ($)
Assets  
Cash and cash equivalents(1) $ 207,822
Loans, net of fair value adjustments 374,966
Premises and equipment 9,650
Operating lease right-of-use assets 4,133
Core deposit intangible 10,760
Accrued interest and other assets 1,271
Total assets 608,602
Liabilities  
Non-interest bearing deposits 118,405
Interest-bearing checking 112,225
Money markey and savings 211,135
Interest-bearing deposits 147,112
Total deposits 588,877
Operating lease liabilities 9,572
Operating lease liabilities 4,133
Accrued expenses and other liabilities 626
Total liabilities 603,208
Net assets acquired 5,394
Deposit premium 36,790
Cash and equivalents received $ 171,032
v3.19.2
Mergers and acquisitions - Schedule of Consideration Paid and Allocation of Purchase Price to Net Assets Acquired (Details) - USD ($)
$ in Thousands
Apr. 05, 2019
Jun. 30, 2019
Dec. 31, 2018
Jun. 30, 2018
Preliminary allocation of consideration:        
Goodwill   $ 168,486 $ 137,190 $ 137,190
Atlantic Capital Bank        
Purchase price:        
Deposit premium $ 36,790      
Preliminary allocation of consideration:        
Fair value of net assets acquired including identifiable intangible assets 5,394      
Goodwill 31,396      
Total consideration paid $ 36,790      
v3.19.2
Mergers and acquisitions Mergers and acquisitions - Loans and Debt Securities Acquired with Deteriorated Credit Quality (Details) - Atlantic Capital Bank
$ in Thousands
Apr. 05, 2019
USD ($)
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items]  
Contractually-required principal and interest $ 11,374
Nonaccretable difference 1,615
Best estimate of contractual cash flows expected to be collected 9,759
Accretable yield 1,167
Fair value $ 8,592
v3.19.2
Mergers and acquisitions - Business Acquisition, Pro Forma Information (Details) - Atlantic Capital Bank - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
Business Acquisition [Line Items]        
Net interest income $ 57,023 $ 55,609 $ 113,610 $ 108,687
Total revenues 90,002 92,237 176,413 179,411
Net income $ 18,688 $ 21,843 $ 37,191 $ 41,474
v3.19.2
Investment securities - Summary of Amortized Cost of Securities and Fair Values (Details) - USD ($)
$ in Thousands
Jun. 30, 2019
Dec. 31, 2018
Debt Securities, Available-for-sale [Abstract]    
Amortized cost $ 667,912 $ 668,033
Gross unrealized gains 11,109 2,756
Gross unrealized losses (3,806) (15,091)
Fair Value 675,215 655,698
U.S. government agency securities    
Debt Securities, Available-for-sale [Abstract]    
Amortized cost 1,000 1,000
Gross unrealized gains 0 0
Gross unrealized losses (4) (11)
Fair Value 996 989
Mortgage-backed securities - residential    
Debt Securities, Available-for-sale [Abstract]    
Amortized cost 516,458 520,654
Gross unrealized gains 4,786 1,191
Gross unrealized losses (3,739) (13,265)
Fair Value 517,505 508,580
Municipals, tax exempt    
Debt Securities, Available-for-sale [Abstract]    
Amortized cost 143,049 138,994
Gross unrealized gains 6,319 1,565
Gross unrealized losses (63) (1,672)
Fair Value 149,305 138,887
Treasury securities    
Debt Securities, Available-for-sale [Abstract]    
Amortized cost 7,405 7,385
Gross unrealized gains 4 0
Gross unrealized losses 0 (143)
Fair Value $ 7,409 $ 7,242
v3.19.2
Investment securities - Narrative (Details)
 3 Months Ended 6 Months Ended
Jun. 30, 2019
USD ($)
security
Jun. 30, 2018
USD ($)
Jun. 30, 2019
USD ($)
security
Jun. 30, 2018
USD ($)
Dec. 31, 2018
USD ($)
security
Debt and Equity Securities, FV-NI [Line Items]          
Equity securities, at fair value $ 3,242,000   $ 3,242,000   $ 3,107,000
Available-for-sale securities 667,912,000   667,912,000   $ 668,033,000
Net gains (losses) on marketable equity securities $ 47,000 $ (43,000) $ 96,000 $ (81,000)  
Number of securities in securities portfolio | security 346   346   360
Number of securities in securities portfolio, unrealized loss position | security 69   69   174
Other than temporary impairment $ 0 $ 0 $ 0 $ 0  
Trade Date Payables          
Debt and Equity Securities, FV-NI [Line Items]          
Available-for-sale securities 1,089,000   1,089,000   $ 2,120,000
Trade Date Payable Settled After Period End          
Debt and Equity Securities, FV-NI [Line Items]          
Available-for-sale securities 86,000   86,000   0
Collateral Pledged          
Debt and Equity Securities, FV-NI [Line Items]          
Securities pledged $ 293,876,000   $ 293,876,000   $ 326,215,000
v3.19.2
Investment securities - Schedule of Amortized Cost and Fair Value of Debt Securities by Contractual Maturity (Details) - USD ($)
$ in Thousands
Jun. 30, 2019
Dec. 31, 2018
Amortized cost    
Amortized cost, due in one year or less $ 6,436 $ 15,883
Amortized costs, due in one to five years 13,504 13,806
Amortized cost, due in five to ten years 15,948 18,539
Amortized cost, due in over ten years 115,566 99,151
Amortized cost, total 151,454 147,379
Mortgage-backed securities - residential, amortized cost 516,458 520,654
Amortized cost 667,912 668,033
Fair value    
Fair value, due in one year or less 6,474 16,028
Fair value, due in one to five years 13,632 13,740
Fair value, due in five to ten years 16,404 18,387
Fair value, due in over ten years 121,200 98,963
Fair value, total 157,710 147,118
Mortgage-backed securities - residential, fair value 517,505 508,580
Total debt securities, Fair value $ 675,215 $ 655,698
v3.19.2
Investment securities - Summary of Sales and Other Dispositions of Available-for-Sale Securities (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
Investments, Debt and Equity Securities [Abstract]        
Sales $ 0 $ 0 $ 1,758 $ 221
Maturities, prepayments and calls 29,353 18,005 50,167 34,508
Gross realized gains 5 1 6 1
Gross realized losses $ 0 $ 0 $ 7 $ 9
v3.19.2
Investment securities - Schedule of Gross Unrealized Losses (Details) - USD ($)
$ in Thousands
Jun. 30, 2019
Dec. 31, 2018
Debt Securities, Available-for-sale [Abstract]    
Debt securities, available-for-sale, unrealized loss, less than 12 months, fair value $ 15,348 $ 87,858
Debt securities, available-for-sale, continuous unrealized loss position, less than 12 months, accumulated loss (31) (844)
Debt securities, available-for-sale, continuous unrealized loss position, 12 months or longer, fair value 275,990 369,343
Debt securities, available-for-sale, continuous unrealized loss position, 12 months or longer, accumulated loss (3,775) (14,247)
Debt securities, available-for-sale, continuous unrealized loss position, fair value 291,338 457,201
Debt securities, available-for-sale, unrealized loss position, accumulated loss (3,806) (15,091)
U.S. government agency securities    
Debt Securities, Available-for-sale [Abstract]    
Debt securities, available-for-sale, unrealized loss, less than 12 months, fair value 0 0
Debt securities, available-for-sale, continuous unrealized loss position, less than 12 months, accumulated loss 0 0
Debt securities, available-for-sale, continuous unrealized loss position, 12 months or longer, fair value 996 989
Debt securities, available-for-sale, continuous unrealized loss position, 12 months or longer, accumulated loss (4) (11)
Debt securities, available-for-sale, continuous unrealized loss position, fair value 996 989
Debt securities, available-for-sale, unrealized loss position, accumulated loss (4) (11)
Mortgage-backed securities - residential    
Debt Securities, Available-for-sale [Abstract]    
Debt securities, available-for-sale, unrealized loss, less than 12 months, fair value 14,291 60,347
Debt securities, available-for-sale, continuous unrealized loss position, less than 12 months, accumulated loss (30) (478)
Debt securities, available-for-sale, continuous unrealized loss position, 12 months or longer, fair value 267,587 335,769
Debt securities, available-for-sale, continuous unrealized loss position, 12 months or longer, accumulated loss (3,709) (12,787)
Debt securities, available-for-sale, continuous unrealized loss position, fair value 281,878 396,116
Debt securities, available-for-sale, unrealized loss position, accumulated loss (3,739) (13,265)
Municipals, tax exempt    
Debt Securities, Available-for-sale [Abstract]    
Debt securities, available-for-sale, unrealized loss, less than 12 months, fair value 1,057 27,511
Debt securities, available-for-sale, continuous unrealized loss position, less than 12 months, accumulated loss (1) (366)
Debt securities, available-for-sale, continuous unrealized loss position, 12 months or longer, fair value 7,407 25,343
Debt securities, available-for-sale, continuous unrealized loss position, 12 months or longer, accumulated loss (62) (1,306)
Debt securities, available-for-sale, continuous unrealized loss position, fair value 8,464 52,854
Debt securities, available-for-sale, unrealized loss position, accumulated loss (63) (1,672)
Treasury securities    
Debt Securities, Available-for-sale [Abstract]    
Debt securities, available-for-sale, unrealized loss, less than 12 months, fair value 0 0
Debt securities, available-for-sale, continuous unrealized loss position, less than 12 months, accumulated loss 0 0
Debt securities, available-for-sale, continuous unrealized loss position, 12 months or longer, fair value 0 7,242
Debt securities, available-for-sale, continuous unrealized loss position, 12 months or longer, accumulated loss 0 (143)
Debt securities, available-for-sale, continuous unrealized loss position, fair value 0 7,242
Debt securities, available-for-sale, unrealized loss position, accumulated loss $ 0 $ (143)
v3.19.2
Loans and allowance for loan losses- Loans Outstanding by Major Lending Classification (Details) - USD ($)
$ in Thousands
Jun. 30, 2019
Mar. 31, 2019
Dec. 31, 2018
Jun. 30, 2018
Mar. 31, 2018
Dec. 31, 2017
Financing Receivable, Recorded Investment, Past Due [Line Items]            
Gross loans $ 4,289,516   $ 3,667,511      
Less: Allowance for loan losses (30,138) $ (29,814) (28,932) $ (26,347) $ (24,406) $ (24,041)
Net loans 4,259,378   3,638,579      
Commercial and industrial            
Financing Receivable, Recorded Investment, Past Due [Line Items]            
Gross loans 989,288   867,083      
Less: Allowance for loan losses (4,923) (5,514) (5,348) (4,747) (4,578) (4,461)
Construction            
Financing Receivable, Recorded Investment, Past Due [Line Items]            
Gross loans 525,954   556,051      
Less: Allowance for loan losses (9,655) (9,758) (9,729) (9,023) (7,866) (7,135)
Residential real estate: | 1-to-4 family mortgage            
Financing Receivable, Recorded Investment, Past Due [Line Items]            
Gross loans 688,984   555,815      
Less: Allowance for loan losses (3,288) (3,295) (3,428) (3,378) (3,122) (3,197)
Residential real estate: | Residential line of credit            
Financing Receivable, Recorded Investment, Past Due [Line Items]            
Gross loans 218,006   190,480      
Less: Allowance for loan losses (755) (731) (811) (795) (1,165) (944)
Residential real estate: | Multi-family mortgage            
Financing Receivable, Recorded Investment, Past Due [Line Items]            
Gross loans 82,945   75,457      
Less: Allowance for loan losses (617) (539) (566) (391) (449) (434)
Commercial real estate: | Owner occupied            
Financing Receivable, Recorded Investment, Past Due [Line Items]            
Gross loans 602,723   493,524      
Less: Allowance for loan losses (3,512) (3,098) (3,132) (3,290) (3,014) (3,558)
Commercial real estate: | Non-owner occupied            
Financing Receivable, Recorded Investment, Past Due [Line Items]            
Gross loans 922,150   700,248      
Less: Allowance for loan losses (4,478) (4,583) (4,149) (3,272) (2,753) (2,817)
Consumer and other            
Financing Receivable, Recorded Investment, Past Due [Line Items]            
Gross loans 259,466   228,853      
Less: Allowance for loan losses $ (2,910) $ (2,296) $ (1,769) $ (1,451) $ (1,459) $ (1,495)
v3.19.2
Loans and allowance for loan losses - Additional Information (Details) - USD ($)
 3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
Dec. 31, 2018
Financing Receivable, Recorded Investment, Past Due [Line Items]          
Carrying value of PCI loans $ 67,450,000   $ 67,450,000   $ 68,999,000
Accretion of interest income     3,928,000 $ 3,615,000  
Non-accrual loans 2,448,000   2,448,000   2,703,000
Loans 4,289,516,000   4,289,516,000   3,667,511,000
Recorded investment in troubled debt restructurings 8,714,000   8,714,000   6,794,000
Allocation to specific reserves 50,000   50,000   63,000
Payment default for loans modified as troubled debt restructurings 0 $ 0      
Purchased Credit Impaired          
Financing Receivable, Recorded Investment, Past Due [Line Items]          
Carrying value of PCI loans 67,450,000   67,450,000   68,999,000
Purchase accounting liquidity discount     1,605,000   2,436,000
Purchase accounting non accretable credit discount     4,596,000   4,355,000
Accretion of interest income 1,705,000 2,639,000 3,888,000 4,840,000  
Total purchase accounting contribution through accretion for purchased loans 2,097,000 $ 1,928,000 3,928,000 $ 3,615,000  
Non-accrual loans 0   0   0
Loans 67,450,000   67,450,000   68,999,000
Non-Purchased Credit Impaired          
Financing Receivable, Recorded Investment, Past Due [Line Items]          
Purchase accounting liquidity discount     4,740,000   2,197,000
Purchase accounting accretable credit discount     11,064,000   7,527,000
Federal Reserve          
Financing Receivable, Recorded Investment, Past Due [Line Items]          
Pledged loans to the Federal Reserve Bank 1,423,565,000   1,423,565,000   1,336,092,000
Residential Mortgage Loans | Federal Home Loan Bank of Cincinnati          
Financing Receivable, Recorded Investment, Past Due [Line Items]          
Pledge loans for Federal Home Loan Bank Debt 573,213,000   573,213,000   618,976,000
Commercial Loan | Federal Home Loan Bank of Cincinnati          
Financing Receivable, Recorded Investment, Past Due [Line Items]          
Pledge loans for Federal Home Loan Bank Debt 474,237,000   474,237,000   608,735,000
30-89 Days Past Due          
Financing Receivable, Recorded Investment, Past Due [Line Items]          
Loans 11,195,000   11,195,000   9,208,000
30-89 Days Past Due | Purchased Credit Impaired          
Financing Receivable, Recorded Investment, Past Due [Line Items]          
Loans 5,541,000   5,541,000   3,605,000
90 Days or More and Accruing Interest          
Financing Receivable, Recorded Investment, Past Due [Line Items]          
Loans 2,100,000   2,100,000   3,041,000
90 Days or More and Accruing Interest | Purchased Credit Impaired          
Financing Receivable, Recorded Investment, Past Due [Line Items]          
Loans $ 1,178,000   $ 1,178,000   $ 4,076,000
v3.19.2
Loans and allowance for loan losses - Changes in Value of Accretable Yield for PCI Loans (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield Movement Schedule [Roll Forward]        
Accretion     $ 3,928 $ 3,615
Purchased Credit Impaired        
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield Movement Schedule [Roll Forward]        
Balance at the beginning of period $ (14,814) $ (16,955) (16,587) (17,682)
Additions through the branch acquisition of Atlantic Capital Bank (1,167) 0 (1,167) 0
Principal reductions and other reclassifications from nonaccretable difference 30 (2,158) 250 (3,452)
Accretion 1,705 2,639 3,888 4,840
Changes in expected cash flows (616) (3,695) (1,246) (3,875)
Balance at end of period $ (14,862) $ (20,169) $ (14,862) $ (20,169)
v3.19.2
Loans and allowance for loan losses - Allowance for Loan Losses by Portfolio Segment and Related Investment in Loans Net of Unearned Interest (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
Allowance for Loan and Lease Losses [Roll Forward]        
Beginning balance $ 29,814 $ 24,406 $ 28,932 $ 24,041
Provision for loan losses 881 1,063 2,272 1,380
Recoveries of loans previously charged-off 213 1,299 575 2,008
Loans charged off (770) (421) (1,641) (1,082)
Ending balance 30,138 26,347 30,138 26,347
Commercial and industrial        
Allowance for Loan and Lease Losses [Roll Forward]        
Beginning balance 5,514 4,578 5,348 4,461
Provision for loan losses (550) 39 (217) 241
Recoveries of loans previously charged-off 38 135 50 270
Loans charged off (79) (5) (258) (225)
Ending balance 4,923 4,747 4,923 4,747
Construction        
Allowance for Loan and Lease Losses [Roll Forward]        
Beginning balance 9,758 7,866 9,729 7,135
Provision for loan losses (109) 310 (81) 789
Recoveries of loans previously charged-off 6 862 7 1,114
Loans charged off 0 (15) 0 (15)
Ending balance 9,655 9,023 9,655 9,023
Residential real estate: | 1-to-4 family mortgage        
Allowance for Loan and Lease Losses [Roll Forward]        
Beginning balance 3,295 3,122 3,428 3,197
Provision for loan losses (30) 218 (95) 188
Recoveries of loans previously charged-off 24 43 37 58
Loans charged off (1) (5) (82) (65)
Ending balance 3,288 3,378 3,288 3,378
Residential real estate: | Residential line of credit        
Allowance for Loan and Lease Losses [Roll Forward]        
Beginning balance 731 1,165 811 944
Provision for loan losses 106 (414) 33 (200)
Recoveries of loans previously charged-off 21 44 46 71
Loans charged off (103) 0 (135) (20)
Ending balance 755 795 755 795
Residential real estate: | Multi-family mortgage        
Allowance for Loan and Lease Losses [Roll Forward]        
Beginning balance 539 449 566 434
Provision for loan losses 78 (58) 51 (43)
Recoveries of loans previously charged-off 0 0 0 0
Loans charged off 0 0 0 0
Ending balance 617 391 617 391
Commercial real estate: | Owner occupied        
Allowance for Loan and Lease Losses [Roll Forward]        
Beginning balance 3,098 3,014 3,132 3,558
Provision for loan losses 409 168 288 (399)
Recoveries of loans previously charged-off 5 108 92 131
Loans charged off 0 0 0 0
Ending balance 3,512 3,290 3,512 3,290
Commercial real estate: | Non-owner occupied        
Allowance for Loan and Lease Losses [Roll Forward]        
Beginning balance 4,583 2,753 4,149 2,817
Provision for loan losses (105) 519 329 404
Recoveries of loans previously charged-off 0 0 0 51
Loans charged off 0 0 0 0
Ending balance 4,478 3,272 4,478 3,272
Consumer and other        
Allowance for Loan and Lease Losses [Roll Forward]        
Beginning balance 2,296 1,459 1,769 1,495
Provision for loan losses 1,082 281 1,964 400
Recoveries of loans previously charged-off 119 107 343 313
Loans charged off (587) (396) (1,166) (757)
Ending balance $ 2,910 $ 1,451 $ 2,910 $ 1,451
v3.19.2
Loans and allowance for loan losses - Allocation of Allowance for Loan Losses by Loan Category Broken Out Between Loans Individually Evaluated for Impairment and Collectively Evaluated for Impairment (Details) - USD ($)
$ in Thousands
Jun. 30, 2019
Mar. 31, 2019
Dec. 31, 2018
Jun. 30, 2018
Mar. 31, 2018
Dec. 31, 2017
Accounts, Notes, Loans and Financing Receivable [Line Items]            
Individually evaluated for impairment $ 701   $ 268      
Collectively evaluated for impairment 28,092   27,783      
Acquired with deteriorated credit quality 1,345   881      
Ending balance 30,138 $ 29,814 28,932 $ 26,347 $ 24,406 $ 24,041
Commercial and industrial            
Accounts, Notes, Loans and Financing Receivable [Line Items]            
Individually evaluated for impairment 11   3      
Collectively evaluated for impairment 4,802   5,247      
Acquired with deteriorated credit quality 110   98      
Ending balance 4,923 5,514 5,348 4,747 4,578 4,461
Construction            
Accounts, Notes, Loans and Financing Receivable [Line Items]            
Individually evaluated for impairment 0   0      
Collectively evaluated for impairment 9,608   9,677      
Acquired with deteriorated credit quality 47   52      
Ending balance 9,655 9,758 9,729 9,023 7,866 7,135
Residential real estate: | 1-to-4 family mortgage            
Accounts, Notes, Loans and Financing Receivable [Line Items]            
Individually evaluated for impairment 15   7      
Collectively evaluated for impairment 3,202   3,205      
Acquired with deteriorated credit quality 71   216      
Ending balance 3,288 3,295 3,428 3,378 3,122 3,197
Residential real estate: | Residential line of credit            
Accounts, Notes, Loans and Financing Receivable [Line Items]            
Individually evaluated for impairment 0   0      
Collectively evaluated for impairment 755   811      
Acquired with deteriorated credit quality 0   0      
Ending balance 755 731 811 795 1,165 944
Residential real estate: | Multi-family mortgage            
Accounts, Notes, Loans and Financing Receivable [Line Items]            
Individually evaluated for impairment 0   0      
Collectively evaluated for impairment 617   566      
Acquired with deteriorated credit quality 0   0      
Ending balance 617 539 566 391 449 434
Commercial real estate: | Owner occupied            
Accounts, Notes, Loans and Financing Receivable [Line Items]            
Individually evaluated for impairment 38   53      
Collectively evaluated for impairment 3,458   3,066      
Acquired with deteriorated credit quality 16   13      
Ending balance 3,512 3,098 3,132 3,290 3,014 3,558
Commercial real estate: | Non-owner occupied            
Accounts, Notes, Loans and Financing Receivable [Line Items]            
Individually evaluated for impairment 299   205      
Collectively evaluated for impairment 3,873   3,628      
Acquired with deteriorated credit quality 306   316      
Ending balance 4,478 4,583 4,149 3,272 2,753 2,817
Consumer and other            
Accounts, Notes, Loans and Financing Receivable [Line Items]            
Individually evaluated for impairment 338   0      
Collectively evaluated for impairment 1,777   1,583      
Acquired with deteriorated credit quality 795   186      
Ending balance $ 2,910 $ 2,296 $ 1,769 $ 1,451 $ 1,459 $ 1,495
v3.19.2
Loans and allowance for loan losses - Amount of Loans by Loan Category Broken Out Between Loans Individually Evaluated for Impairment and Collectively Evaluated for Impairment (Details) - USD ($)
$ in Thousands
Jun. 30, 2019
Dec. 31, 2018
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Individually evaluated for impairment $ 15,678 $ 13,716
Collectively evaluated for impairment 4,206,388 3,584,796
Fair value 67,450 68,999
Loans 4,289,516 3,667,511
Commercial and industrial    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Individually evaluated for impairment 3,914 1,847
Collectively evaluated for impairment 983,542 863,788
Fair value 1,832 1,448
Loans 989,288 867,083
Construction    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Individually evaluated for impairment 1,216 1,221
Collectively evaluated for impairment 520,062 549,075
Fair value 4,676 5,755
Loans 525,954 556,051
Residential real estate: | 1-to-4 family mortgage    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Individually evaluated for impairment 853 987
Collectively evaluated for impairment 665,730 535,451
Fair value 22,401 19,377
Loans 688,984 555,815
Residential real estate: | Residential line of credit    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Individually evaluated for impairment 609 245
Collectively evaluated for impairment 217,323 190,235
Fair value 74 0
Loans 218,006 190,480
Residential real estate: | Multi-family mortgage    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Individually evaluated for impairment 0 0
Collectively evaluated for impairment 82,945 75,457
Fair value 0 0
Loans 82,945 75,457
Commercial real estate: | Owner occupied    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Individually evaluated for impairment 1,980 2,608
Collectively evaluated for impairment 594,120 484,900
Fair value 6,623 6,016
Loans 602,723 493,524
Commercial real estate: | Non-owner occupied    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Individually evaluated for impairment 6,539 6,735
Collectively evaluated for impairment 902,221 677,247
Fair value 13,390 16,266
Loans 922,150 700,248
Consumer and other    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Individually evaluated for impairment 567 73
Collectively evaluated for impairment 240,445 208,643
Fair value 18,454 20,137
Loans $ 259,466 $ 228,853
v3.19.2
Loans and allowance for loan losses - Credit Quality Indicators by Portfolio Class (Details) - USD ($)
$ in Thousands
Jun. 30, 2019
Dec. 31, 2018
Financing Receivable, Allowance for Credit Losses [Line Items]    
Loans, excluding purchased credit impaired loans $ 4,222,066 $ 3,598,512
Purchased credit impaired loans 67,450 68,999
Loans 4,289,516 3,667,511
Pass    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Loans, excluding purchased credit impaired loans 4,061,141 3,458,495
Purchased credit impaired loans 0 0
Loans 4,061,141 3,458,495
Watch    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Loans, excluding purchased credit impaired loans 111,624 95,857
Purchased credit impaired loans 47,923 46,672
Loans 159,547 142,529
Substandard    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Loans, excluding purchased credit impaired loans 49,301 44,160
Purchased credit impaired loans 19,527 22,327
Loans 68,828 66,487
Commercial and industrial    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Loans, excluding purchased credit impaired loans 987,456 865,635
Purchased credit impaired loans 1,832 1,448
Loans 989,288 867,083
Commercial and industrial | Pass    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Loans, excluding purchased credit impaired loans 919,900 804,447
Purchased credit impaired loans 0 0
Commercial and industrial | Watch    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Loans, excluding purchased credit impaired loans 57,599 52,624
Purchased credit impaired loans 1,101 964
Commercial and industrial | Substandard    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Loans, excluding purchased credit impaired loans 9,957 8,564
Purchased credit impaired loans 731 484
Construction    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Loans, excluding purchased credit impaired loans 521,278 550,296
Purchased credit impaired loans 4,676 5,755
Loans 525,954 556,051
Construction | Pass    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Loans, excluding purchased credit impaired loans 512,525 543,953
Purchased credit impaired loans 0 0
Construction | Watch    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Loans, excluding purchased credit impaired loans 7,426 5,012
Purchased credit impaired loans 3,747 3,229
Construction | Substandard    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Loans, excluding purchased credit impaired loans 1,327 1,331
Purchased credit impaired loans 929 2,526
Residential real estate: | 1-to-4 family mortgage    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Loans, excluding purchased credit impaired loans 666,583 536,438
Purchased credit impaired loans 22,401 19,377
Loans 688,984 555,815
Residential real estate: | Residential line of credit    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Loans, excluding purchased credit impaired loans 217,932 190,480
Purchased credit impaired loans 74 0
Loans 218,006 190,480
Residential real estate: | Multi-family mortgage    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Loans, excluding purchased credit impaired loans 82,945 75,457
Purchased credit impaired loans 0 0
Loans 82,945 75,457
Residential real estate: | Pass | 1-to-4 family mortgage    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Loans, excluding purchased credit impaired loans 646,636 519,541
Purchased credit impaired loans 0 0
Residential real estate: | Pass | Residential line of credit    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Loans, excluding purchased credit impaired loans 213,362 186,753
Purchased credit impaired loans 0 0
Residential real estate: | Pass | Multi-family mortgage    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Loans, excluding purchased credit impaired loans 82,876 75,381
Purchased credit impaired loans 0 0
Residential real estate: | Watch | 1-to-4 family mortgage    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Loans, excluding purchased credit impaired loans 7,341 8,697
Purchased credit impaired loans 17,365 14,681
Residential real estate: | Watch | Residential line of credit    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Loans, excluding purchased credit impaired loans 1,864 1,039
Purchased credit impaired loans 0 0
Residential real estate: | Watch | Multi-family mortgage    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Loans, excluding purchased credit impaired loans 69 76
Purchased credit impaired loans 0 0
Residential real estate: | Substandard | 1-to-4 family mortgage    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Loans, excluding purchased credit impaired loans 12,606 8,200
Purchased credit impaired loans 5,036 4,696
Residential real estate: | Substandard | Residential line of credit    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Loans, excluding purchased credit impaired loans 2,706 2,688
Purchased credit impaired loans 74 0
Residential real estate: | Substandard | Multi-family mortgage    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Loans, excluding purchased credit impaired loans 0 0
Purchased credit impaired loans 0 0
Commercial real estate: | Owner occupied    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Loans, excluding purchased credit impaired loans 596,100 487,508
Purchased credit impaired loans 6,623 6,016
Loans 602,723 493,524
Commercial real estate: | Non-owner occupied    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Loans, excluding purchased credit impaired loans 908,760 683,982
Purchased credit impaired loans 13,390 16,266
Loans 922,150 700,248
Commercial real estate: | Pass | Owner occupied    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Loans, excluding purchased credit impaired loans 559,544 456,694
Purchased credit impaired loans 0 0
Commercial real estate: | Pass | Non-owner occupied    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Loans, excluding purchased credit impaired loans 890,293 667,447
Purchased credit impaired loans 0 0
Commercial real estate: | Watch | Owner occupied    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Loans, excluding purchased credit impaired loans 23,251 16,765
Purchased credit impaired loans 4,613 4,110
Commercial real estate: | Watch | Non-owner occupied    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Loans, excluding purchased credit impaired loans 11,418 8,881
Purchased credit impaired loans 5,520 8,266
Commercial real estate: | Substandard | Owner occupied    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Loans, excluding purchased credit impaired loans 13,305 14,049
Purchased credit impaired loans 2,010 1,906
Commercial real estate: | Substandard | Non-owner occupied    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Loans, excluding purchased credit impaired loans 7,049 7,654
Purchased credit impaired loans 7,870 8,000
Consumer and other    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Loans, excluding purchased credit impaired loans 241,012 208,716
Purchased credit impaired loans 18,454 20,137
Loans 259,466 228,853
Consumer and other | Pass    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Loans, excluding purchased credit impaired loans 236,005 204,279
Purchased credit impaired loans 0 0
Consumer and other | Watch    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Loans, excluding purchased credit impaired loans 2,656 2,763
Purchased credit impaired loans 15,577 15,422
Consumer and other | Substandard    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Loans, excluding purchased credit impaired loans 2,351 1,674
Purchased credit impaired loans $ 2,877 $ 4,715
v3.19.2
Loans and allowance for loan losses - Past Due Loans (Details) - USD ($)
$ in Thousands
Jun. 30, 2019
Dec. 31, 2018
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Loans $ 4,289,516 $ 3,667,511
Purchased Credit Impaired    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Loans 67,450 68,999
Non Accruing    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Loans 16,135 13,685
30-89 Days Past Due    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Loans 11,195 9,208
30-89 Days Past Due | Purchased Credit Impaired    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Loans 5,541 3,605
90 Days or More and Accruing Interest    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Loans 2,100 3,041
90 Days or More and Accruing Interest | Purchased Credit Impaired    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Loans 1,178 4,076
Financing Receivables Current    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Loans 4,192,636 3,572,578
Commercial and industrial    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Loans 989,288 867,083
Commercial and industrial | Purchased Credit Impaired    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Loans 1,832 1,448
Commercial and industrial | Non Accruing    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Loans 366 438
Commercial and industrial | 30-89 Days Past Due    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Loans 2,421 999
Commercial and industrial | 90 Days or More and Accruing Interest    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Loans 122 65
Commercial and industrial | Financing Receivables Current    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Loans 984,547 864,133
Construction    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Loans 525,954 556,051
Construction | Purchased Credit Impaired    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Loans 4,676 5,755
Construction | Non Accruing    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Loans 266 283
Construction | 30-89 Days Past Due    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Loans 0 109
Construction | 90 Days or More and Accruing Interest    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Loans 18 0
Construction | Financing Receivables Current    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Loans 520,994 549,904
Residential real estate: | 1-to-4 family mortgage    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Loans 688,984 555,815
Residential real estate: | 1-to-4 family mortgage | Purchased Credit Impaired    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Loans 22,401 19,377
Residential real estate: | 1-to-4 family mortgage | Non Accruing    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Loans 5,927 2,704
Residential real estate: | Residential line of credit    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Loans 218,006 190,480
Residential real estate: | Residential line of credit | Purchased Credit Impaired    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Loans 74 0
Residential real estate: | Residential line of credit | Non Accruing    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Loans 790 804
Residential real estate: | Multi-family mortgage    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Loans 82,945 75,457
Residential real estate: | Multi-family mortgage | Purchased Credit Impaired    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Loans 0 0
Residential real estate: | Multi-family mortgage | Non Accruing    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Loans 0 0
Residential real estate: | 30-89 Days Past Due | 1-to-4 family mortgage    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Loans 4,188 4,919
Residential real estate: | 30-89 Days Past Due | Residential line of credit    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Loans 1,106 726
Residential real estate: | 30-89 Days Past Due | Multi-family mortgage    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Loans 0 0
Residential real estate: | 90 Days or More and Accruing Interest | 1-to-4 family mortgage    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Loans 891 737
Residential real estate: | 90 Days or More and Accruing Interest | Residential line of credit    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Loans 552 957
Residential real estate: | 90 Days or More and Accruing Interest | Multi-family mortgage    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Loans 0 0
Residential real estate: | Financing Receivables Current | 1-to-4 family mortgage    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Loans 655,577 528,078
Residential real estate: | Financing Receivables Current | Residential line of credit    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Loans 215,484 187,993
Residential real estate: | Financing Receivables Current | Multi-family mortgage    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Loans 82,945 75,457
Commercial real estate: | Owner occupied    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Loans 602,723 493,524
Commercial real estate: | Owner occupied | Purchased Credit Impaired    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Loans 6,623 6,016
Commercial real estate: | Owner occupied | Non Accruing    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Loans 1,376 2,423
Commercial real estate: | Non-owner occupied    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Loans 922,150 700,248
Commercial real estate: | Non-owner occupied | Purchased Credit Impaired    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Loans 13,390 16,266
Commercial real estate: | Non-owner occupied | Non Accruing    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Loans 6,663 6,885
Commercial real estate: | 30-89 Days Past Due | Owner occupied    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Loans 990 407
Commercial real estate: | 30-89 Days Past Due | Non-owner occupied    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Loans 518 61
Commercial real estate: | 90 Days or More and Accruing Interest | Owner occupied    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Loans 0 197
Commercial real estate: | 90 Days or More and Accruing Interest | Non-owner occupied    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Loans 57 77
Commercial real estate: | Financing Receivables Current | Owner occupied    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Loans 593,734 484,481
Commercial real estate: | Financing Receivables Current | Non-owner occupied    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Loans 901,522 676,959
Consumer and other    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Loans 259,466 228,853
Consumer and other | Purchased Credit Impaired    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Loans 18,454 20,137
Consumer and other | Non Accruing    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Loans 747 148
Consumer and other | 30-89 Days Past Due    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Loans 1,972 1,987
Consumer and other | 90 Days or More and Accruing Interest    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Loans 460 1,008
Consumer and other | Financing Receivables Current    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Loans $ 237,833 $ 205,573
v3.19.2
Loans and allowance for loan losses - Impaired Loans Recognized, Segregated by Class (Details) - USD ($)
$ in Thousands
Jun. 30, 2019
Dec. 31, 2018
Financing Receivable, Impaired [Line Items]    
Impaired loans with related allowance, recorded investment $ 9,576 $ 7,009
Impaired loans with related allowance, unpaid principal 9,701 7,204
Impaired loans with related allowance, related allowance 701 268
Impaired loan with no related allowance, recorded investment 6,102 6,707
Impaired loan with no related allowance, unpaid principal 8,141 8,577
Total impaired loans, recorded investment 15,678 13,716
Total impaired loans, unpaid principal 17,842 15,781
Commercial and industrial    
Financing Receivable, Impaired [Line Items]    
Impaired loans with related allowance, recorded investment 3,136 618
Impaired loans with related allowance, unpaid principal 3,136 732
Impaired loans with related allowance, related allowance 11 3
Impaired loan with no related allowance, recorded investment 778 1,229
Impaired loan with no related allowance, unpaid principal 935 1,281
Construction    
Financing Receivable, Impaired [Line Items]    
Impaired loans with related allowance, recorded investment 0 0
Impaired loans with related allowance, unpaid principal 0 0
Impaired loans with related allowance, related allowance 0 0
Impaired loan with no related allowance, recorded investment 1,216 1,221
Impaired loan with no related allowance, unpaid principal 1,263 1,262
Residential real estate: | 1-to-4 family mortgage    
Financing Receivable, Impaired [Line Items]    
Impaired loans with related allowance, recorded investment 266 145
Impaired loans with related allowance, unpaid principal 324 145
Impaired loans with related allowance, related allowance 15 7
Impaired loan with no related allowance, recorded investment 587 842
Impaired loan with no related allowance, unpaid principal 899 1,151
Residential real estate: | Residential line of credit    
Financing Receivable, Impaired [Line Items]    
Impaired loans with related allowance, recorded investment 0 0
Impaired loans with related allowance, unpaid principal 0 0
Impaired loans with related allowance, related allowance 0 0
Impaired loan with no related allowance, recorded investment 609 245
Impaired loan with no related allowance, unpaid principal 628 249
Residential real estate: | Multi-family mortgage    
Financing Receivable, Impaired [Line Items]    
Impaired loans with related allowance, recorded investment 0 0
Impaired loans with related allowance, unpaid principal 0 0
Impaired loans with related allowance, related allowance 0 0
Impaired loan with no related allowance, recorded investment 0 0
Impaired loan with no related allowance, unpaid principal 0 0
Commercial real estate: | Owner occupied    
Financing Receivable, Impaired [Line Items]    
Impaired loans with related allowance, recorded investment 185 560
Impaired loans with related allowance, unpaid principal 218 641
Impaired loans with related allowance, related allowance 38 53
Impaired loan with no related allowance, recorded investment 1,795 2,048
Impaired loan with no related allowance, unpaid principal 2,567 2,780
Commercial real estate: | Non-owner occupied    
Financing Receivable, Impaired [Line Items]    
Impaired loans with related allowance, recorded investment 5,490 5,686
Impaired loans with related allowance, unpaid principal 5,524 5,686
Impaired loans with related allowance, related allowance 299 205
Impaired loan with no related allowance, recorded investment 1,049 1,049
Impaired loan with no related allowance, unpaid principal 1,781 1,781
Consumer and other    
Financing Receivable, Impaired [Line Items]    
Impaired loans with related allowance, recorded investment 499 0
Impaired loans with related allowance, unpaid principal 499 0
Impaired loans with related allowance, related allowance 338 0
Impaired loan with no related allowance, recorded investment 68 73
Impaired loan with no related allowance, unpaid principal $ 68 $ 73
v3.19.2
Loans and allowance for loan losses - Impaired Loans Recognized, Recorded Investment and Interest Income (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
Financing Receivable, Impaired [Line Items]        
Impaired loans with related allowance, average recorded investment $ 9,504 $ 1,033 $ 8,294 $ 1,165
Impaired loan with no related allowance, average recorded investment 6,121 8,110 6,407 8,155
Total impaired loans, average recorded investment 15,625 9,143 14,701 9,320
Impaired loans with related allowance, interest income recognized (cash basis) 133 25 175 36
Impaired loan with no related allowance, interest income recognized (cash basis) 68 121 170 231
Total impaired loans, interest income recognized (cash basis) 201 146 345 267
Commercial and industrial        
Financing Receivable, Impaired [Line Items]        
Impaired loans with related allowance, average recorded investment 3,161 103 1,877 103
Impaired loan with no related allowance, average recorded investment 819 1,683 1,004 1,780
Impaired loans with related allowance, interest income recognized (cash basis) 67 2 105 3
Impaired loan with no related allowance, interest income recognized (cash basis) 11 43 25 59
Construction        
Financing Receivable, Impaired [Line Items]        
Impaired loans with related allowance, average recorded investment 0 0 0 0
Impaired loan with no related allowance, average recorded investment 1,218 1,283 1,219 1,285
Impaired loans with related allowance, interest income recognized (cash basis) 0 0 0 0
Impaired loan with no related allowance, interest income recognized (cash basis) 4 6 52 36
Residential real estate: | 1-to-4 family mortgage        
Financing Receivable, Impaired [Line Items]        
Impaired loans with related allowance, average recorded investment 336 189 206 191
Impaired loan with no related allowance, average recorded investment 528 1,309 715 1,192
Impaired loans with related allowance, interest income recognized (cash basis) 9 2 11 4
Impaired loan with no related allowance, interest income recognized (cash basis) 18 31 26 44
Residential real estate: | Residential line of credit        
Financing Receivable, Impaired [Line Items]        
Impaired loans with related allowance, average recorded investment 0 0 0 0
Impaired loan with no related allowance, average recorded investment 607 0 427 0
Impaired loans with related allowance, interest income recognized (cash basis) 0 0 0 0
Impaired loan with no related allowance, interest income recognized (cash basis) 0 0 2 0
Residential real estate: | Multi-family mortgage        
Financing Receivable, Impaired [Line Items]        
Impaired loans with related allowance, average recorded investment 0 0 0 0
Impaired loan with no related allowance, average recorded investment 0 958 0 965
Impaired loans with related allowance, interest income recognized (cash basis) 0 0 0 0
Impaired loan with no related allowance, interest income recognized (cash basis) 0 12 0 24
Commercial real estate: | Owner occupied        
Financing Receivable, Impaired [Line Items]        
Impaired loans with related allowance, average recorded investment 187 670 373 799
Impaired loan with no related allowance, average recorded investment 1,830 1,539 1,922 1,594
Impaired loans with related allowance, interest income recognized (cash basis) 4 21 6 27
Impaired loan with no related allowance, interest income recognized (cash basis) 34 28 62 60
Commercial real estate: | Non-owner occupied        
Financing Receivable, Impaired [Line Items]        
Impaired loans with related allowance, average recorded investment 5,570 71 5,588 72
Impaired loan with no related allowance, average recorded investment 1,049 1,310 1,049 1,313
Impaired loans with related allowance, interest income recognized (cash basis) 34 0 34 2
Impaired loan with no related allowance, interest income recognized (cash basis) 0 0 0 7
Consumer and other        
Financing Receivable, Impaired [Line Items]        
Impaired loans with related allowance, average recorded investment 250 0 250 0
Impaired loan with no related allowance, average recorded investment 70 28 71 26
Impaired loans with related allowance, interest income recognized (cash basis) 19 0 19 0
Impaired loan with no related allowance, interest income recognized (cash basis) $ 1 $ 1 $ 3 $ 1
v3.19.2
Loans and allowance for loan losses - Financial Effect of TDRs (Details)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2018
USD ($)
loan
Jun. 30, 2019
USD ($)
loan
Jun. 30, 2018
USD ($)
loan
Financing Receivable, Modifications [Line Items]      
Number of loans | loan 2 2 4
Pre-modification outstanding recorded investment $ 887 $ 3,188 $ 1,141
Post-modification outstanding recorded investment 887 3,188 1,141
Charge offs and specific reserves $ 0 $ 0 $ 0
Commercial and industrial      
Financing Receivable, Modifications [Line Items]      
Number of loans | loan 2 2 2
Pre-modification outstanding recorded investment $ 887 $ 3,188 $ 887
Post-modification outstanding recorded investment 887 3,188 887
Charge offs and specific reserves $ 0 $ 0 $ 0
Residential real estate: | 1-to-4 family mortgage      
Financing Receivable, Modifications [Line Items]      
Number of loans | loan     1
Pre-modification outstanding recorded investment     $ 249
Post-modification outstanding recorded investment     249
Charge offs and specific reserves     $ 0
Residential real estate: | Consumer and other      
Financing Receivable, Modifications [Line Items]      
Number of loans | loan     1
Pre-modification outstanding recorded investment     $ 5
Post-modification outstanding recorded investment     5
Charge offs and specific reserves     $ 0
v3.19.2
Other real estate owned - Summary of Other Real Estate Owned (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
Other Real Estate [Roll Forward]        
Balance at beginning of period $ 12,828 $ 15,334 $ 12,643 $ 16,442
Transfers from loans 924 384 2,030 1,014
Transfers from premises and equipment 2,640 0 2,640 0
Properties sold (1,148) (777) (1,864) (2,209)
Gain on sale of other real estate owned 329 51 322 8
Loans provided for sales of other real estate owned 0 (325) (166) (445)
Write-downs and partial liquidations (52) (28) (84) (171)
Balance at end of period $ 15,521 $ 14,639 $ 15,521 $ 14,639
v3.19.2
Other real estate owned - Narrative (Details) - USD ($)
$ in Thousands
 6 Months Ended 12 Months Ended
Jun. 30, 2019
Dec. 31, 2018
Real Estate Properties [Line Items]    
Other real estate owned included excess land and facilities held for sale $ 7,691 $ 7,691
Residential Real Estate Properties    
Real Estate Properties [Line Items]    
Foreclosed residential real estate properties 2,895 2,101
Total foreclosure proceedings in process 0 478
Atlantic Capital Bank    
Real Estate Properties [Line Items]    
Other real estate owned included excess land and facilities held for sale $ 891 $ 5,381
v3.19.2
Goodwill and intangible assets Goodwill and intangible assets - Goodwill activity (Details) - USD ($)
 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Goodwill [Roll Forward]    
Goodwill, beginning balance $ 137,190,000  
Addition from acquisition of Atlantic Capital branches 31,396,000  
Impairment due to sale of TPO mortgage delivery channel (100,000) $ 0
Goodwill, ending balance $ 168,486,000 $ 137,190,000
v3.19.2
Goodwill and intangible assets - Narrative (Details) - USD ($)
 3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2019
Jun. 30, 2018
Finite-Lived Intangible Assets [Line Items]      
Impairment   $ 100,000 $ 0
Atlantic Capital Bank | Core deposit intangible      
Finite-Lived Intangible Assets [Line Items]      
Finite-lived intangible assets acquired $ 10,760,000    
Estimated useful life of intangible assets 6 years    
v3.19.2
Goodwill and intangible assets - Schedule of Core Deposit and Other Intangibles (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
Finite-lived Intangible Assets [Roll Forward]        
Beginning Balance     $ 11,628  
Amortization of intangibles $ (1,254) $ (802) (1,983) $ (1,655)
Ending Balance 19,945   19,945  
Core Deposit and Other Intangibles        
Finite-lived Intangible Assets [Roll Forward]        
Beginning Balance 10,439 14,027 11,628 14,902
Finite-lived intangible assets acquired 10,760 0 10,760 0
Reclassification of leasehold intangible 0 0 (460) 0
Amortization of intangibles (1,254) (824) (1,983) (1,699)
Ending Balance 19,945 $ 13,203 19,945 $ 13,203
Lease Agreements | Occupancy and equipment expense        
Finite-lived Intangible Assets [Roll Forward]        
Amortization of intangibles $ (22)   $ (44)  
v3.19.2
Goodwill and intangible assets - Schedule of Estimated Aggregate Amortization Expense of Core Deposit and Other Intangibles (Details) - USD ($)
$ in Thousands
Jun. 30, 2019
Dec. 31, 2018
Goodwill and Intangible Assets Disclosure [Abstract]    
Remainder of 2019 $ 2,356  
December 31, 2020 4,262  
December 31, 2021 3,663  
December 31, 2022 2,973  
December 31, 2023 2,247  
Thereafter 4,444  
Net Carrying Amount $ 19,945 $ 11,628
v3.19.2
Leases (Details)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2019
USD ($)
lease_renew_option
Jun. 30, 2019
USD ($)
lease_renew_option
Lessee, Lease, Description [Line Items]    
Lessee, number of operating leases, noncurrent 43 43
Lessee, operating lease, number of options to renew | lease_renew_option 1 1
Operating lease rent expense | $ $ 1,239 $ 2,491
Minimum    
Lessee, Lease, Description [Line Items]    
Lessee, operating lease, term of contract 1 year 1 year
Lessee, operating lease, renewal term 20 years 20 years
Maximum    
Lessee, Lease, Description [Line Items]    
Lessee, operating lease, term of contract 37 years 37 years
v3.19.2
Leases - Operating Leases (Details) - USD ($)
$ in Thousands
Jun. 30, 2019
Dec. 31, 2018
Leases [Abstract]    
Operating lease right-of-use assets $ 35,872 $ 0
Lease liability $ 38,722 $ 0
Weighted average remaining lease term (in years) 15 years 7 months 18 days  
Weighted average discount rate 3.42%  
v3.19.2
Leases - Lease Costs (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2019
Leases [Abstract]    
Operating lease cost $ 1,421 $ 2,533
Short-term lease cost 260 484
Variable lease cost 99 199
Total lease cost $ 1,780 $ 3,216
v3.19.2
Leases - Maturity (Details) - USD ($)
$ in Thousands
Jun. 30, 2019
Dec. 31, 2018
Lease payments due on or before:    
June 30, 2020 $ 5,703  
June 30, 2021 5,465  
June 30, 2022 4,854  
June 30, 2023 4,082  
June 30, 2024 3,728  
Thereafter 26,433  
Total undiscounted cash flows 50,265  
Discount on cash flows (11,543)  
Lease liability $ 38,722 $ 0
v3.19.2
Mortgage servicing rights - Schedule of Changes in Mortgage Servicing Rights (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
Servicing Asset at Fair Value, Amount [Roll Forward]        
Carrying value at beginning of period $ 64,031 $ 93,160 $ 88,829 $ 76,107
Capitalization 11,212 16,304 19,932 29,814
Sales 0 0 (29,160) 0
Change in fair value:        
Due to pay-offs/pay-downs (3,305) (2,207) (5,100) (5,267)
Due to change in valuation inputs or assumptions (5,558) 2,192 (8,121) 8,795
Carrying value at period end $ 66,380 $ 109,449 $ 66,380 $ 109,449
v3.19.2
Mortgage servicing rights - Schedule of Servicing Income and Expense Included in Mortgage Banking Income (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
Servicing income:        
Servicing income $ 4,052 $ 5,604 $ 8,803 $ 10,397
Change in fair value of mortgage servicing rights (8,863) (15) (13,221) 3,528
Change in fair value of derivative hedging instruments 5,063 (1,763) 7,540 (7,019)
Servicing income 252 3,826 3,122 6,906
Servicing expenses 1,485 2,078 3,229 3,873
Net servicing (loss) income $ (1,233) $ 1,748 $ (107) $ 3,033
v3.19.2
Mortgage servicing rights - Schedule of Data and Key Economic Assumptions Related to Mortgage Servicing Rights (Details) - USD ($)
$ in Thousands
 6 Months Ended 12 Months Ended
Jun. 30, 2019
Dec. 31, 2018
Transfers and Servicing of Financial Assets [Abstract]    
Unpaid principal balance $ 5,850,557 $ 6,755,114
Weighted-average prepayment speed (CPR) 11.37% 8.58%
Estimated impact on fair value of a 10% increase $ (2,881) $ (2,072)
Estimated impact on fair value of a 20% increase $ (5,546) $ (4,006)
Discount rate 9.24% 10.45%
Estimated impact on fair value of a 100 bp increase $ (2,656) $ (2,505)
Estimated impact on fair value of a 200 bp increase $ (5,102) $ (4,807)
Weighted-average coupon interest rate 4.40% 4.21%
Weighted-average servicing fee (basis points) 0.29% 0.30%
Weighted-average remaining maturity (in months) 318 months 325 months
v3.19.2
Mortgage servicing rights - Narrative (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
Dec. 31, 2018
Transfers and Servicing of Financial Assets [Abstract]          
Mortgage servicing rights sold $ 0 $ 0 $ 29,160 $ 0  
Mortgage loans serviced 2,034,374   2,034,374    
Mortgage escrow deposit $ 68,293   $ 68,293   $ 53,468
v3.19.2
Income taxes - Schedule of Allocation of Federal and State Income Taxes between Current and Deferred Portions (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
Income Tax Disclosure [Abstract]        
Current $ 6,546 $ 2,195 $ 16,740 $ 2,195
Deferred (232) 5,599 (4,451) 11,081
Total $ 6,314 $ 7,794 $ 12,289 $ 13,276
v3.19.2
Income taxes - Schedule of Reconciliation of Income Taxes Computed at the United States Federal Statutory Tax Rates to the Provision for Income Taxes (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
Income Tax Disclosure [Abstract]        
Federal taxes calculated at statutory rate $ 5,251 $ 6,270 $ 10,619 $ 11,570
Federal taxes calculated at statutory rate, percent 21.00% 21.00% 21.00% 21.00%
Increase (decrease) resulting from:        
State taxes, net of federal benefit $ 1,205 $ 1,543 $ 2,343 $ 2,686
Benefit of equity based compensation (1) (15) (393) (751)
Municipal interest income, net of interest disallowance (223) (207) (439) (408)
Bank owned life insurance (15) (13) (27) (25)
Stock offering costs 0 141 0 141
Other 97 75 186 63
Total $ 6,314 $ 7,794 $ 12,289 $ 13,276
Effective Income Tax Rate Reconciliation, Percent [Abstract]        
State taxes, net of federal benefit, percent 4.80% 5.20% 4.60% 4.90%
Benefit of equity based compensation, percent (0.00%) (0.10%) (0.80%) (1.50%)
Municipal interest income, net of interest disallowance, percent (0.90%) (0.70%) (0.90%) (0.70%)
Bank owned life insurance, percent (0.00%) (0.10%) (0.00%) (0.00%)
Stock offering costs, percent 0.00% 0.50% 0.00% 0.30%
Other, percent 0.40% 0.30% 0.40% 0.10%
Income tax expense, as reported 25.30% 26.10% 24.30% 24.10%
v3.19.2
Income taxes - Schedule of Net Deferred Tax liability (Details) - USD ($)
$ in Thousands
Jun. 30, 2019
Dec. 31, 2018
Deferred tax assets:    
Allowance for loan losses $ 7,853 $ 7,539
Operating lease liability 10,090 0
Amortization of core deposit intangible 1,197 1,012
Deferred compensation 4,851 5,878
Unrealized loss on available-for-sale debt securities 100 3,299
Other 2,011 1,998
Subtotal 26,102 19,726
Deferred tax liabilities:    
FHLB stock dividends (550) (550)
Operating lease - right of use asset (9,806) 0
Depreciation (4,615) (4,812)
Cash flow hedges (2,252) (736)
Mortgage servicing rights (17,296) (23,146)
Other (8,474) (7,145)
Subtotal (42,993) (36,389)
Net deferred tax liability $ (16,891) $ (16,663)
v3.19.2
Commitments and contingencies - Summary of Financial Instruments with Off-Balance Sheet Credit Risk (Details) - USD ($)
$ in Thousands
Jun. 30, 2019
Dec. 31, 2018
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]    
Balance at end of period $ 1,209,166 $ 1,051,414
Commitments to extend credit, excluding interest rate lock commitments    
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]    
Balance at end of period 1,191,641 1,032,390
Letters of credit    
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]    
Balance at end of period $ 17,525 $ 19,024
v3.19.2
Commitments and contingencies - Additional Information (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
Commitments and Contingencies Disclosure [Abstract]        
Total principal amount of loans repurchased or indemnified $ 2,117 $ 1,543 $ 3,510 $ 2,662
v3.19.2
Commitments and contingencies - Summary of Allowance for Loan Repurchases or Indemnifications (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
Commitments and Contingencies Disclosure [Abstract]        
Balance at beginning of period $ 3,332 $ 3,514 $ 3,273 $ 3,386
Provision for loan repurchases or indemnifications 89 206 148 392
Recoveries on previous losses (14) (74) (14) (132)
Balance at end of period $ 3,407 $ 3,646 $ 3,407 $ 3,646
v3.19.2
Derivatives - Additional Information (Details)
$ in Thousands
 1 Months Ended 3 Months Ended
Jul. 31, 2017
USD ($)
derivative
Mar. 31, 2018
USD ($)
Jun. 30, 2019
USD ($)
derivative
Mar. 31, 2019
USD ($)
Dec. 31, 2018
USD ($)
Jun. 30, 2018
USD ($)
Dec. 31, 2017
USD ($)
Derivative [Line Items]              
Notional Amount $ 100,000            
Stockholders' equity   $ 611,075 $ 718,759 $ 694,577 $ 671,857 $ 630,959 $ 596,729
Cash collateral pledged on derivatives     $ 26,832   13,904    
Subordinated Debentures              
Derivative [Line Items]              
Number of derivative instruments | derivative     2        
Long-term debt     $ 30,930        
Interest rate swaps              
Derivative [Line Items]              
Number of derivative instruments | derivative 3            
Interest rate swaps | Designated as hedging:              
Derivative [Line Items]              
Notional Amount     30,000   30,000    
Interest rate swaps | Subordinated Debentures              
Derivative [Line Items]              
Notional Amount     30,000        
Fair value of interest rate swap     (491)   721    
Interest Rate Swaps Three              
Derivative [Line Items]              
Notional Amount $ 30,000            
Derivative notional amount maturity period 3 years            
Interest Rate Swaps Four              
Derivative [Line Items]              
Notional Amount $ 35,000            
Derivative notional amount maturity period 4 years            
Interest Rate Swaps Five              
Derivative [Line Items]              
Notional Amount $ 35,000            
Derivative notional amount maturity period 5 years            
Gain on canceled derivatives   $ 1,564          
Accumulated Gain (Loss), Net, Cash Flow Hedge, Parent              
Derivative [Line Items]              
Stockholders' equity     $ 1,223   $ 1,436    
v3.19.2
Derivatives - Schedule of Derivative Financial Instruments (Details) - USD ($)
$ in Thousands
Jun. 30, 2019
Dec. 31, 2018
Jul. 31, 2017
Derivatives, Fair Value [Line Items]      
Notional Amount     $ 100,000
Not designated as hedging:      
Derivatives, Fair Value [Line Items]      
Notional Amount $ 1,902,936 $ 1,258,047  
Asset 24,407 13,595  
Liability 18,930 11,637  
Interest rate contracts | Not designated as hedging:      
Derivatives, Fair Value [Line Items]      
Notional Amount 388,118 295,333  
Asset 14,714 6,679  
Liability 14,714 6,679  
Forward commitments | Not designated as hedging:      
Derivatives, Fair Value [Line Items]      
Notional Amount 704,588 474,208  
Asset 0 0  
Liability 4,216 4,958  
Interest rate-lock commitments | Not designated as hedging:      
Derivatives, Fair Value [Line Items]      
Notional Amount 608,730 318,706  
Asset 9,041 6,241  
Liability 0 0  
Futures contracts | Not designated as hedging:      
Derivatives, Fair Value [Line Items]      
Notional Amount 189,000 166,000  
Asset 619 649  
Liability 0 0  
Option contracts | Not designated as hedging:      
Derivatives, Fair Value [Line Items]      
Notional Amount 12,500 3,800  
Asset 33 26  
Liability 0 0  
Interest rate swaps | Designated as hedging:      
Derivatives, Fair Value [Line Items]      
Notional Amount 30,000 30,000  
Asset 0 721  
Liability $ 491 $ 0  
v3.19.2
Derivatives - Schedule of Gains (Losses) Included in the Consolidated Statements of Income Related to Derivative Financial Instruments (Details) - USD ($)
 3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
Derivatives, Fair Value [Line Items]        
Reclassification adjustment for gain on hedging activities, tax $ (42,000) $ 1,000 $ (75,000) $ 2,000
Amount of (loss) gain recognized in other comprehensive income, net of tax (564,000)   (895,000)  
Amount of (loss) gain recognized in other comprehensive income, net of tax   198,000   1,469,000
Not designated as hedging: | Mortgage Banking Income        
Derivatives, Fair Value [Line Items]        
Gains (losses) on derivative financial instruments 749 (1,456) 109,000 4,869,000
Designated as hedging:        
Derivatives, Fair Value [Line Items]        
Total cash flow hedge gain (loss) and derivative excluded component increase (decrease) 158,000 12,000 307,000 37,000
Designated as hedging: | Interest Expense on Borrowings        
Derivatives, Fair Value [Line Items]        
Amount of gain (loss) reclassified from other comprehensive income and recognized in interest expense on borrowings 119,000 (4,000) 213,000 (7,000)
Gain included in interest expense on borrowings 39,000 16,000 94,000 44,000
Interest rate-lock commitments | Not designated as hedging: | Mortgage Banking Income        
Derivatives, Fair Value [Line Items]        
Gains (losses) on derivative financial instruments 1,875 (684) 3,755,000 2,727,000
Forward commitments | Not designated as hedging: | Mortgage Banking Income        
Derivatives, Fair Value [Line Items]        
Gains (losses) on derivative financial instruments (5,264) 635 (9,668,000) 5,953,000
Futures contracts | Not designated as hedging: | Mortgage Banking Income        
Derivatives, Fair Value [Line Items]        
Gains (losses) on derivative financial instruments 4,107 (1,369) 5,978,000 (3,816,000)
Option contracts | Not designated as hedging: | Mortgage Banking Income        
Derivatives, Fair Value [Line Items]        
Gains (losses) on derivative financial instruments $ 31 $ (38) $ 44,000 $ 5,000
v3.19.2
Fair value of financial instruments - Estimated Fair Values of Financial Instruments (Details) - USD ($)
$ in Thousands
Jun. 30, 2019
Dec. 31, 2018
Financial assets:    
Interest receivable $ 17,952 $ 14,503
Level 1    
Financial assets:    
Cash and cash equivalents 164,336 125,356
Investment securities 0 0
Loans, net 0 0
Loans held for sale 0 0
Interest receivable 0 0
Mortgage servicing rights 0 0
Derivatives 0 0
Financial liabilities:    
Deposits, Without stated maturities 3,565,635 3,051,972
Deposits, With stated maturities 0 0
Securities sold under agreement to repurchase and federal funds sold 41,369 15,081
Federal Home Loan Bank advances 0 0
Subordinated debt 0 0
Interest Payable 402 530
Derivatives 0 0
Level 2    
Financial assets:    
Cash and cash equivalents 0 0
Investment securities 678,457 658,805
Loans, net 0 0
Loans held for sale 294,699 278,815
Interest receivable 3,315 2,848
Mortgage servicing rights 0 0
Derivatives 24,407 14,316
Financial liabilities:    
Deposits, Without stated maturities 0 0
Deposits, With stated maturities 1,283,608 1,122,076
Securities sold under agreement to repurchase and federal funds sold 0 0
Federal Home Loan Bank advances 185,019 181,864
Subordinated debt 30,000 30,000
Interest Payable 8,357 4,485
Derivatives 19,421 11,637
Level 3    
Financial assets:    
Cash and cash equivalents 0 0
Investment securities 0 0
Loans, net 4,241,259 3,630,500
Loans held for sale 0 0
Interest receivable 14,637 11,655
Mortgage servicing rights 66,380 88,829
Derivatives 0 0
Financial liabilities:    
Deposits, Without stated maturities 0 0
Deposits, With stated maturities 0 0
Securities sold under agreement to repurchase and federal funds sold 0 0
Federal Home Loan Bank advances 0 0
Subordinated debt 0 0
Interest Payable 0 0
Derivatives 0 0
Carrying amount    
Financial assets:    
Cash and cash equivalents 164,336 125,356
Investment securities 678,457 658,805
Loans, net 4,259,378 3,638,579
Loans held for sale 294,699 278,815
Interest receivable 17,952 14,503
Mortgage servicing rights 66,380 88,829
Derivatives 24,407 14,316
Financial liabilities:    
Deposits, Without stated maturities 3,565,635 3,051,972
Deposits, With stated maturities 1,277,191 1,119,745
Securities sold under agreement to repurchase and federal funds sold 41,369 15,081
Federal Home Loan Bank advances 185,000 181,765
Subordinated debt 30,930 30,930
Interest Payable 8,759 5,015
Derivatives 19,421 11,637
Fair Value    
Financial assets:    
Cash and cash equivalents 164,336 125,356
Investment securities 678,457 658,805
Loans, net 4,241,259 3,630,500
Loans held for sale 294,699 278,815
Interest receivable 17,952 14,503
Mortgage servicing rights 66,380 88,829
Derivatives 24,407 14,316
Financial liabilities:    
Deposits, Without stated maturities 3,565,635 3,051,972
Deposits, With stated maturities 1,283,608 1,122,076
Securities sold under agreement to repurchase and federal funds sold 41,369 15,081
Federal Home Loan Bank advances 185,019 181,864
Subordinated debt 30,000 30,000
Interest Payable 8,759 5,015
Derivatives $ 19,421 $ 11,637
v3.19.2
Fair value of financial instruments - Balances and Levels of Assets Measured at Fair Value on Recurring and Nonrecurring Basis (Details) - USD ($)
$ in Thousands
Jun. 30, 2019
Dec. 31, 2018
Financial assets:    
Available-for-sale debt securities, at fair value $ 675,215 $ 655,698
Equity securities, at fair value 3,242 3,107
Impaired loans 15,678 13,716
Municipals, tax exempt    
Financial assets:    
Available-for-sale debt securities, at fair value 149,305 138,887
Treasury securities    
Financial assets:    
Available-for-sale debt securities, at fair value 7,409 7,242
Quoted prices in active markets for identical assets (liabilities) (level 1)    
Financial assets:    
Investment securities 0 0
Loans held for sale 0 0
Mortgage servicing rights 0 0
Derivatives 0 0
Financial liabilities:    
Derivatives 0 0
Significant other observable inputs (level 2)    
Financial assets:    
Investment securities 678,457 658,805
Loans held for sale 294,699 278,815
Mortgage servicing rights 0 0
Derivatives 24,407 14,316
Financial liabilities:    
Derivatives 19,421 11,637
Significant unobservable inputs (level 3)    
Financial assets:    
Investment securities 0 0
Loans held for sale 0 0
Mortgage servicing rights 66,380 88,829
Derivatives 0 0
Financial liabilities:    
Derivatives 0 0
Fair Value, Measurements, Recurring    
Financial assets:    
Equity securities, at fair value 3,242 3,107
Investment securities 678,457 658,805
Loans held for sale 294,699 278,815
Mortgage servicing rights 66,380 88,829
Derivatives 24,407 14,316
Financial liabilities:    
Derivatives 19,421 11,637
Fair Value, Measurements, Recurring | U.S. government agency securities    
Financial assets:    
Available-for-sale debt securities, at fair value 996 989
Fair Value, Measurements, Recurring | Mortgage-backed securities    
Financial assets:    
Available-for-sale debt securities, at fair value 517,505 508,580
Fair Value, Measurements, Recurring | Municipals, tax exempt    
Financial assets:    
Available-for-sale debt securities, at fair value 149,305 138,887
Fair Value, Measurements, Recurring | Treasury securities    
Financial assets:    
Available-for-sale debt securities, at fair value 7,409 7,242
Fair Value, Measurements, Recurring | Quoted prices in active markets for identical assets (liabilities) (level 1)    
Financial assets:    
Equity securities, at fair value 0 0
Investment securities 0 0
Loans held for sale 0 0
Mortgage servicing rights 0 0
Derivatives 0 0
Financial liabilities:    
Derivatives 0 0
Fair Value, Measurements, Recurring | Quoted prices in active markets for identical assets (liabilities) (level 1) | U.S. government agency securities    
Financial assets:    
Available-for-sale debt securities, at fair value 0 0
Fair Value, Measurements, Recurring | Quoted prices in active markets for identical assets (liabilities) (level 1) | Mortgage-backed securities    
Financial assets:    
Available-for-sale debt securities, at fair value 0 0
Fair Value, Measurements, Recurring | Quoted prices in active markets for identical assets (liabilities) (level 1) | Municipals, tax exempt    
Financial assets:    
Available-for-sale debt securities, at fair value 0 0
Fair Value, Measurements, Recurring | Quoted prices in active markets for identical assets (liabilities) (level 1) | Treasury securities    
Financial assets:    
Available-for-sale debt securities, at fair value 0 0
Fair Value, Measurements, Recurring | Significant other observable inputs (level 2)    
Financial assets:    
Equity securities, at fair value 3,242 3,107
Investment securities 678,457 658,805
Loans held for sale 294,699 278,815
Mortgage servicing rights 0 0
Derivatives 24,407 14,316
Financial liabilities:    
Derivatives 19,421 11,637
Fair Value, Measurements, Recurring | Significant other observable inputs (level 2) | U.S. government agency securities    
Financial assets:    
Available-for-sale debt securities, at fair value 996 989
Fair Value, Measurements, Recurring | Significant other observable inputs (level 2) | Mortgage-backed securities    
Financial assets:    
Available-for-sale debt securities, at fair value 517,505 508,580
Fair Value, Measurements, Recurring | Significant other observable inputs (level 2) | Municipals, tax exempt    
Financial assets:    
Available-for-sale debt securities, at fair value 149,305 138,887
Fair Value, Measurements, Recurring | Significant other observable inputs (level 2) | Treasury securities    
Financial assets:    
Available-for-sale debt securities, at fair value 7,409 7,242
Fair Value, Measurements, Recurring | Significant unobservable inputs (level 3)    
Financial assets:    
Equity securities, at fair value 0 0
Investment securities 0 0
Loans held for sale 0 0
Mortgage servicing rights 66,380 88,829
Derivatives 0 0
Financial liabilities:    
Derivatives 0 0
Fair Value, Measurements, Recurring | Significant unobservable inputs (level 3) | U.S. government agency securities    
Financial assets:    
Available-for-sale debt securities, at fair value 0 0
Fair Value, Measurements, Recurring | Significant unobservable inputs (level 3) | Mortgage-backed securities    
Financial assets:    
Available-for-sale debt securities, at fair value 0 0
Fair Value, Measurements, Recurring | Significant unobservable inputs (level 3) | Municipals, tax exempt    
Financial assets:    
Available-for-sale debt securities, at fair value 0 0
Fair Value, Measurements, Recurring | Significant unobservable inputs (level 3) | Treasury securities    
Financial assets:    
Available-for-sale debt securities, at fair value 0 0
Fair Value, Measurements, Nonrecurring    
Financial assets:    
Other real estate owned 4,613 2,266
Impaired loans 4,424 8,718
Fair Value, Measurements, Nonrecurring | Commercial and industrial    
Financial assets:    
Impaired loans 3,528 732
Fair Value, Measurements, Nonrecurring | Consumer and other    
Financial assets:    
Impaired loans 499  
Fair Value, Measurements, Nonrecurring | Construction Loans | Commercial and industrial    
Financial assets:    
Impaired loans 0 832
Fair Value, Measurements, Nonrecurring | 1-to-4 family mortgage | Residential real estate:    
Financial assets:    
Impaired loans 317 146
Fair Value, Measurements, Nonrecurring | Owner occupied | Commercial real estate:    
Financial assets:    
Impaired loans 80 87
Fair Value, Measurements, Nonrecurring | Non-owner occupied | Commercial real estate:    
Financial assets:    
Impaired loans 0 6,921
Fair Value, Measurements, Nonrecurring | Quoted prices in active markets for identical assets (liabilities) (level 1)    
Financial assets:    
Other real estate owned 0 0
Impaired loans 0 0
Fair Value, Measurements, Nonrecurring | Quoted prices in active markets for identical assets (liabilities) (level 1) | Commercial and industrial    
Financial assets:    
Impaired loans 0 0
Fair Value, Measurements, Nonrecurring | Quoted prices in active markets for identical assets (liabilities) (level 1) | Consumer and other    
Financial assets:    
Impaired loans 0  
Fair Value, Measurements, Nonrecurring | Quoted prices in active markets for identical assets (liabilities) (level 1) | Construction Loans | Commercial and industrial    
Financial assets:    
Impaired loans 0 0
Fair Value, Measurements, Nonrecurring | Quoted prices in active markets for identical assets (liabilities) (level 1) | 1-to-4 family mortgage | Residential real estate:    
Financial assets:    
Impaired loans 0 0
Fair Value, Measurements, Nonrecurring | Quoted prices in active markets for identical assets (liabilities) (level 1) | Owner occupied | Commercial real estate:    
Financial assets:    
Impaired loans 0 0
Fair Value, Measurements, Nonrecurring | Quoted prices in active markets for identical assets (liabilities) (level 1) | Non-owner occupied | Commercial real estate:    
Financial assets:    
Impaired loans 0 0
Fair Value, Measurements, Nonrecurring | Significant other observable inputs (level 2)    
Financial assets:    
Other real estate owned 0 0
Impaired loans 0 0
Fair Value, Measurements, Nonrecurring | Significant other observable inputs (level 2) | Commercial and industrial    
Financial assets:    
Impaired loans 0 0
Fair Value, Measurements, Nonrecurring | Significant other observable inputs (level 2) | Consumer and other    
Financial assets:    
Impaired loans 0  
Fair Value, Measurements, Nonrecurring | Significant other observable inputs (level 2) | Construction Loans | Commercial and industrial    
Financial assets:    
Impaired loans 0 0
Fair Value, Measurements, Nonrecurring | Significant other observable inputs (level 2) | 1-to-4 family mortgage | Residential real estate:    
Financial assets:    
Impaired loans 0 0
Fair Value, Measurements, Nonrecurring | Significant other observable inputs (level 2) | Owner occupied | Commercial real estate:    
Financial assets:    
Impaired loans 0 0
Fair Value, Measurements, Nonrecurring | Significant other observable inputs (level 2) | Non-owner occupied | Commercial real estate:    
Financial assets:    
Impaired loans 0 0
Fair Value, Measurements, Nonrecurring | Significant unobservable inputs (level 3)    
Financial assets:    
Other real estate owned 4,613 2,266
Impaired loans 4,424 8,718
Fair Value, Measurements, Nonrecurring | Significant unobservable inputs (level 3) | Commercial and industrial    
Financial assets:    
Impaired loans 3,528 732
Fair Value, Measurements, Nonrecurring | Significant unobservable inputs (level 3) | Consumer and other    
Financial assets:    
Impaired loans 499  
Fair Value, Measurements, Nonrecurring | Significant unobservable inputs (level 3) | Construction Loans | Commercial and industrial    
Financial assets:    
Impaired loans 0 832
Fair Value, Measurements, Nonrecurring | Significant unobservable inputs (level 3) | 1-to-4 family mortgage | Residential real estate:    
Financial assets:    
Impaired loans 317 146
Fair Value, Measurements, Nonrecurring | Significant unobservable inputs (level 3) | Owner occupied | Commercial real estate:    
Financial assets:    
Impaired loans 80 87
Fair Value, Measurements, Nonrecurring | Significant unobservable inputs (level 3) | Non-owner occupied | Commercial real estate:    
Financial assets:    
Impaired loans $ 0 $ 6,921
v3.19.2
Fair value of financial instruments - Reconciliation for Assets and Liabilities Measured at Fair Value on Recurring Basis Using Significant Unobservable Inputs or Level 3 Inputs (Details) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]    
Balance at beginning of period $ 0 $ 3,604
Reclassification of equity securities without a readily determinable fair value to other assets 0 (3,604)
Balance at end of period $ 0 $ 0
v3.19.2
Fair value of financial instruments - Information about Significant Unobservable Inputs (Level 3) Used in Valuation of Assets Measured at Fair Value on Nonrecurring Basis (Details) - USD ($)
$ in Thousands
Jun. 30, 2019
Dec. 31, 2018
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Impaired loans $ 15,678 $ 13,716
Fair Value, Measurements, Nonrecurring    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Impaired loans 4,424 8,718
Other real estate owned 4,613 2,266
Fair Value, Measurements, Nonrecurring | Significant unobservable inputs (level 3)    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Impaired loans 4,424 8,718
Other real estate owned $ 4,613 $ 2,266
Fair Value, Measurements, Nonrecurring | Significant unobservable inputs (level 3) | Minimum    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Impaired loans, measurement input 0.00% 0.00%
Other real estate owned, measurement input 0.00 0.00
Fair Value, Measurements, Nonrecurring | Significant unobservable inputs (level 3) | Maximum    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Impaired loans, measurement input 30.00% 30.00%
Other real estate owned, measurement input 0.15 0.15
v3.19.2
Fair value of financial instruments - Additional Information (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
Dec. 31, 2018
Mortgage Loans          
Fair Value Measurement Inputs and Valuation Techniques [Line Items]          
Net (losses) gains from fair value changes of mortgage loans $ 2,169 $ 2,076 $ 962 $ 4,197  
GNMA          
Fair Value Measurement Inputs and Valuation Techniques [Line Items]          
Delinquent GNMA loans that had been previously sold $ 39,897   $ 39,897   $ 67,362
v3.19.2
Fair value of financial instruments - Schedule of Differences between Fair Value and Principal Balance for Loans Held for Sale Measured at Fair Value (Details) - USD ($)
$ in Thousands
Jun. 30, 2019
Dec. 31, 2018
Fair Value    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Mortgage loans held for sale measured at fair value $ 294,699 $ 278,418
Past due loans of 90 days or more 0 0
Nonaccrual loans 0 397
Aggregate Unpaid Principal Balance    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Mortgage loans held for sale measured at fair value 283,226 267,907
Past due loans of 90 days or more 0 0
Nonaccrual loans 0 397
Difference    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Mortgage loans held for sale measured at fair value 11,473 10,511
Past due loans of 90 days or more 0 0
Nonaccrual loans $ 0 $ 0
v3.19.2
Segment reporting - Additional Information (Details)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2019
USD ($)
Jun. 30, 2018
USD ($)
Jun. 30, 2019
USD ($)
segment
Jun. 30, 2018
USD ($)
Segment Reporting Information [Line Items]        
Number of reportable segments | segment     2  
Other noninterest expense $ 39,724 $ 29,335 $ 72,737 $ 59,648
Interest income 66,276 54,529 126,724 105,222
Mortgage Segment        
Segment Reporting Information [Line Items]        
Other noninterest expense 829 0 1,883 0
Interest paid $ 3,290 $ 4,517 $ 5,848 $ 9,025
Mortgage Segment | Prime Interest Rate        
Segment Reporting Information [Line Items]        
Warehouse line of credit interest rate 5.50% 5.00% 5.50% 5.00%
Banking Segment        
Segment Reporting Information [Line Items]        
Other noninterest expense $ 38,895 $ 29,335 $ 70,854 $ 59,648
Interest income $ 3,290 $ 4,517 $ 5,848 $ 9,025
v3.19.2
Segment reporting - Schedule of Segment Financial Information (Details) - USD ($)
 3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
Dec. 31, 2018
Segment Reporting Information [Line Items]          
Net interest income $ 57,023,000 $ 51,517,000 $ 110,039,000 $ 99,946,000  
Provision for loan losses 881,000 1,063,000 2,272,000 1,380,000  
Mortgage banking income 28,326,000 30,322,000 51,228,000 58,506,000  
Change in fair value of mortgage servicing rights (3,800,000) (1,778,000) (5,681,000) (3,491,000)  
Other noninterest income 8,453,000 7,219,000 16,471,000 14,023,000  
Depreciation and amortization 1,278,000 1,132,000 2,450,000 2,238,000  
Amortization of intangibles 1,254,000 802,000 1,983,000 1,655,000  
Other noninterest mortgage banking expense 21,863,000 25,089,000 42,050,000 48,968,000  
Other noninterest expense 39,724,000 29,335,000 72,737,000 59,648,000  
Income before income taxes 25,002,000 29,859,000 50,565,000 55,095,000  
Income tax expense 6,314,000 7,794,000 12,289,000 13,276,000  
Net income 18,688,000 22,065,000 38,276,000 41,819,000  
Total assets 5,940,402,000 4,923,249,000 5,940,402,000 4,923,249,000 $ 5,136,764,000
Goodwill 168,486,000 137,190,000 168,486,000 137,190,000 $ 137,190,000
Merger costs 3,783,000 0 4,404,000 1,193,000  
Impairment of goodwill     100,000 0  
Banking Segment          
Segment Reporting Information [Line Items]          
Net interest income 56,979,000 51,669,000 109,972,000 100,440,000  
Provision for loan losses 881,000 1,063,000 2,272,000 1,380,000  
Mortgage banking income 5,451,000 6,894,000 9,837,000 13,002,000  
Change in fair value of mortgage servicing rights 0 0 0 0  
Other noninterest income 8,453,000 7,219,000 16,471,000 14,023,000  
Depreciation and amortization 1,134,000 990,000 2,176,000 1,968,000  
Amortization of intangibles 1,254,000 802,000 1,983,000 1,655,000  
Other noninterest mortgage banking expense 4,172,000 5,649,000 7,003,000 10,746,000  
Other noninterest expense 38,895,000 29,335,000 70,854,000 59,648,000  
Income before income taxes 24,547,000 27,943,000 51,992,000 52,068,000  
Total assets 5,552,893,000 4,443,469,000 5,552,893,000 4,443,469,000  
Goodwill 168,486,000 137,090,000 168,486,000 137,090,000  
Merger costs 3,783,000   4,404,000    
Offering cost   671,000   671,000  
Mortgage Segment          
Segment Reporting Information [Line Items]          
Net interest income 44,000 (152,000) 67,000 (494,000)  
Provision for loan losses 0 0 0 0  
Mortgage banking income 22,875,000 23,428,000 41,391,000 45,504,000  
Change in fair value of mortgage servicing rights (3,800,000) (1,778,000) (5,681,000) (3,491,000)  
Other noninterest income 0 0 0 0  
Depreciation and amortization 144,000 142,000 274,000 270,000  
Amortization of intangibles 0 0 0 0  
Other noninterest mortgage banking expense 17,691,000 19,440,000 35,047,000 38,222,000  
Other noninterest expense 829,000 0 1,883,000 0  
Income before income taxes 455,000 1,916,000 (1,427,000) 3,027,000  
Total assets 387,509,000 479,780,000 387,509,000 479,780,000  
Goodwill 0 $ 100,000 0 $ 100,000  
Impairment of goodwill $ 100   $ 100,000    
v3.19.2
Minimum capital requirements - Additional Information (Details)
Jun. 30, 2019
Dec. 31, 2018
Banking and Thrift [Abstract]    
Capital conservative buffer percentage 2.50% 1.88%
v3.19.2
Minimum capital requirements - Schedule of Actual and Required Capital Amounts and Ratios (Details) - USD ($)
$ in Thousands
Jun. 30, 2019
Dec. 31, 2018
FB Financial Corporation    
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]    
Total Capital (to risk-weighted assets), Actual Amount $ 588,932 $ 582,945
Total Capital (to risk-weighted assets), Actual Ratio 11.60% 13.00%
Total Capital (to risk-weighted assets), For capital adequacy purposes, Amount $ 406,160 $ 358,735
Total Capital (to risk-weighted assets), For capital adequacy purposes, Ratio 8.00% 8.00%
Total Capital (to risk-weighted assets), Minimum Capital adequacy with capital buffer, Amount $ 533,085 $ 442,814
Total Capital (to risk-weighted assets), Minimum Capital adequacy with capital buffer, Ratio 10.50% 9.90%
Tier 1 Capital (to risk-weighted assets), Actual Amount $ 558,794 $ 554,013
Tier 1 Capital (to risk-weighted assets), Actual Ratio 11.00% 12.40%
Tier 1 Capital (to risk-weighted assets), For capital adequacy purposes, Amount $ 304,797 $ 268,071
Tier 1 Capital (to risk-weighted assets), For capital adequacy purposes, Ratio 6.00% 6.00%
Tier 1 Capital (to risk-weighted assets), Minimum Capital adequacy with capital buffer, Amount $ 431,795 $ 351,843
Tier 1 Capital (to risk-weighted assets), Minimum Capital adequacy with capital buffer, Ratio 8.50% 7.90%
Tier 1 Capital (to average assets), Actual Amount $ 558,794 $ 554,013
Tier 1 Capital (to average assets), Actual Ratio 10.00% 11.40%
Tier 1 Capital (to average assets), For capital adequacy purposes, Amount $ 223,518 $ 194,391
Tier 1 Capital (to average assets), For capital adequacy purposes, Ratio 4.00% 4.00%
Common Equity Tier 1 Capital (to risk-weighted assets), Actual Amount $ 528,794 $ 524,013
Common Equity Tier 1 Capital (to risk-weighted assets), Actual Ratio 10.40% 11.70%
Common Equity Tier 1 Capital (to risk-weighted assets), For capital adequacy purposes, Amount $ 228,805 $ 201,543
Common Equity Tier 1 Capital (to risk-weighted assets), For capital adequacy purposes, Ratio 4.50% 4.50%
Common Equity Tier 1 Capital (to risk-weighted assets), Minimum Capital adequacy with capital buffer, Amount $ 355,919 $ 285,520
Common Equity Tier 1 Capital (to risk-weighted assets), Minimum Capital adequacy with capital buffer, Ratio 7.00% 6.40%
FirstBank    
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]    
Total Capital (to risk-weighted assets), Actual Amount $ 573,107 $ 561,327
Total Capital (to risk-weighted assets), Actual Ratio 11.30% 12.50%
Total Capital (to risk-weighted assets), For capital adequacy purposes, Amount $ 405,739 $ 359,249
Total Capital (to risk-weighted assets), For capital adequacy purposes, Ratio 8.00% 8.00%
Total Capital (to risk-weighted assets), Minimum Capital adequacy with capital buffer, Amount $ 532,533 $ 443,448
Total Capital (to risk-weighted assets), Minimum Capital adequacy with capital buffer, Ratio 10.50% 9.90%
Total Capital (to risk-weighted assets), To be well capitalized under prompt corrective action provisions, Amount $ 507,174 $ 449,062
Total Capital (to risk-weighted assets), To be well capitalized under prompt corrective action provisions, Ratio 10.00% 10.00%
Tier 1 Capital (to risk-weighted assets), Actual Amount $ 542,969 $ 532,395
Tier 1 Capital (to risk-weighted assets), Actual Ratio 10.70% 11.90%
Tier 1 Capital (to risk-weighted assets), For capital adequacy purposes, Amount $ 304,469 $ 268,434
Tier 1 Capital (to risk-weighted assets), For capital adequacy purposes, Ratio 6.00% 6.00%
Tier 1 Capital (to risk-weighted assets), Minimum Capital adequacy with capital buffer, Amount $ 431,331 $ 352,320
Tier 1 Capital (to risk-weighted assets), Minimum Capital adequacy with capital buffer, Ratio 8.50% 7.90%
Tier 1 Capital (to risk-weighted assets), To be well capitalized under prompt corrective action provisions Amount $ 405,958 $ 357,913
Tier 1 Capital (to risk-weighted assets), To be well capitalized under prompt corrective action provisions Ratio 8.00% 8.00%
Tier 1 Capital (to average assets), Actual Amount $ 542,969 $ 532,395
Tier 1 Capital (to average assets), Actual Ratio 9.70% 10.90%
Tier 1 Capital (to average assets), For capital adequacy purposes, Amount $ 223,444 $ 195,374
Tier 1 Capital (to average assets), For capital adequacy purposes, Ratio 4.00% 4.00%
Tier 1 Capital (to average assets), To be well capitalized under prompt corrective action provisions, Amount $ 279,305 $ 244,218
Tier 1 Capital (to average assets), To be well capitalized under prompt corrective action provisions, Ratio 5.00% 5.00%
Common Equity Tier 1 Capital (to risk-weighted assets), Actual Amount $ 542,969 $ 532,395
Common Equity Tier 1 Capital (to risk-weighted assets), Actual Ratio 10.70% 11.90%
Common Equity Tier 1 Capital (to risk-weighted assets), For capital adequacy purposes, Amount $ 228,351 $ 201,326
Common Equity Tier 1 Capital (to risk-weighted assets), For capital adequacy purposes, Ratio 4.50% 4.50%
Common Equity Tier 1 Capital (to risk-weighted assets), Minimum Capital adequacy with capital buffer, Amount $ 355,213 $ 285,212
Common Equity Tier 1 Capital (to risk-weighted assets), Minimum Capital adequacy with capital buffer, Ratio 7.00% 6.40%
Common Equity Tier 1 Capital (to risk-weighted assets), To be well capitalized under prompt corrective action provisions, Amount $ 329,841 $ 290,804
Common Equity Tier 1 Capital (to risk-weighted assets), To be well capitalized under prompt corrective action provisions, Ratio 6.50% 6.50%
v3.19.2
Stock-Based Compensation - Summary of Vested and Unvested Restricted Stock Units Outstanding (Details) - Restricted Stock Units (RSUs) - $ / shares
 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]    
Restricted Stock Units Outstanding, Balance, beginning of period (in shares) 1,140,215,000 1,214,325,000
Restricted Stock Units Outstanding, Grants (in shares) 165,761,000 110,466,000
Restricted Stock Units Outstanding, Released and distributed (vested) (in shares) (195,755,000) (181,903,000)
Restricted Stock Units Outstanding, Forfeited/expired (in shares) (9,581,000) (7,060,000)
Restricted Stock Units Outstanding, Balance, end of period (in shares) 1,100,640,000 1,135,828,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Abstract]    
Weighted Average Grant Date Fair Value, Balance, beginning of period (USD per share) $ 21.96 $ 19.97
Weighted Average Grant Date Fair Value, Grants (USD per share) 34.03 40.02
Weighted Average Grant Date Fair Value, Released and distributed (vested) (USD per share) 25.62 22.09
Weighted Average Grant Date Fair Value, Forfeited/expired (USD per share) 24.72 21.81
Weighted Average Grant Date Fair Value, Balance, end of period (USD per share) $ 25.53 $ 21.59
v3.19.2
Stock-Based Compensation - Additional Information (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
Dec. 31, 2016
Dec. 31, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]            
Compensation cost related to stock grants and vesting of restricted stock units     $ 3,785 $ 3,819    
Dividends declared not paid on restricted stock units $ 119 $ 70 119 70    
Restricted Stock Units (RSUs)            
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]            
Fair value of restricted stock units vested and released 482 404 5,015 4,018    
Compensation cost related to stock grants and vesting of restricted stock units 2,147 1,861 3,785 3,819    
One-time expense for modification of vesting terms       249    
Restricted Stock Units (RSUs) | Director            
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]            
Compensation cost related to stock grants and vesting of restricted stock units 179 182 351 359    
Stock-Settled EBI Units and Restricted Stock Units            
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]            
Unrecognized compensation cost related to nonvested stock-settled EBI units and restricted stock units 14,433 $ 14,061 $ 14,433 $ 14,061    
Expected weighted-average period to be recognized     2 years 3 months 29 days 2 years 9 months 11 days    
Dividends declared not paid on restricted stock units $ 345   $ 345     $ 226
Employee Stock Purchase Plan            
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]            
Purchase price percentage of subsequent offering periods         95.00%  
Maximum number of shares issuable (in shares)         200,000  
Maximum number of shares per participant (in shares)         725  
Maximum worth of award per participant         $ 25,000  
Shares issued under plan (in shares) 0 0 10,613 16,537    
Number of shares reserved for issuance (in shares) 2,421,743 2,444,428 2,421,743 2,444,428    
v3.19.2
Related party transactions - Schedule of Loans Analysis to Executive Officers, Certain Management, Bank Directors and Their Affiliates (Details)
$ in Thousands
 6 Months Ended
Jun. 30, 2019
USD ($)
Loans and Leases Receivable, Related Parties [Roll Forward]  
Loans outstanding, Beginning balance $ 32,264
New loans and advances 1,566
Change in related party status (9,687)
Repayments (589)
Loans outstanding, Ending balance $ 23,554
v3.19.2
Related party transactions - Additional Information (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
Dec. 31, 2018
Related Party Transaction [Line Items]          
Deposits from related parties $ 275,622   $ 275,622   $ 287,156
Aviation Time Sharing Agreement          
Related Party Transaction [Line Items]          
Payments to related party 70 $ 53 97 $ 125  
Registration Rights Agreement, 2016          
Related Party Transaction [Line Items]          
Payments to related party   700   700  
Certain Executive Officers, Certain Management and Directors and Their Associates          
Related Party Transaction [Line Items]          
Unfunded commitments 22,263   22,263   15,000
Director          
Related Party Transaction [Line Items]          
Unamortized leasehold improvements 102   102   $ 116
Lease expense $ 124 $ 111 $ 253 $ 259  
v3.19.2
Label Element Value
AOCI Attributable to Parent [Member]  
Cumulative Effect of New Accounting Principle in Period of Adoption us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption $ 109,000
Cumulative Effect of New Accounting Principle in Period of Adoption us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption $ 0