falsedesktopSFNC2020-09-30000162828020015912{"tbl_sim": "https://q10k.com/tbl-sim", "search": "https://q10k.com/search"}{"q10k_tbl_0": "Large accelerated filer\t☒\tAccelerated filer\t☐\tNon-accelerated filer\t☐\nSmaller reporting company\t☐\tEmerging Growth company\t☐\t\t\n", "q10k_tbl_1": "\t\tPage\nPart I:\tFinancial Information\t\nItem 1.\tFinancial Statements (Unaudited)\t\n\tConsolidated Balance Sheets\t3\n\tConsolidated Statements of Income\t4\n\tConsolidated Statements of Comprehensive Income\t5\n\tConsolidated Statements of Cash Flows\t6\n\tConsolidated Statements of Stockholders' Equity\t7\n\tCondensed Notes to Consolidated Financial Statements\t9\n\tReport of Independent Registered Public Accounting Firm\t50\nItem 2.\tManagement's Discussion and Analysis of Financial Condition and Results of Operations\t51\nItem 3.\tQuantitative and Qualitative Disclosures About Market Risk\t79\nItem 4.\tControls and Procedures\t81\nPart II:\tOther Information\t\nItem 1.\tLegal Proceedings\t81\nItem 1A.\tRisk Factors\t81\nItem 2.\tUnregistered Sales of Equity Securities and Use of Proceeds\t82\nItem 3.\tDefaults Upon Senior Securities\t*\nItem 4.\tMine Safety Disclosures\t*\nItem 5.\tOther Information\t*\nItem 6.\tExhibits\t82\nSignatures\t\t84\n", "q10k_tbl_2": "\tSeptember 30\tDecember 31\n(In thousands except share data)\t2020\t2019\n\t(Unaudited)\t\nASSETS\t\t\nCash and non-interest bearing balances due from banks\t382691\t277208\nInterest bearing balances due from banks and federal funds sold\t2139440\t719415\nCash and cash equivalents\t2522131\t996623\nInterest bearing balances due from banks - time\t4061\t4554\nInvestment securities:\t\t\nHeld-to-maturity net of allowance for credit losses of $373 at September 30 2020\t47102\t40927\nAvailable-for-sale net of allowance for credit losses of $1208 at September 30 2020 (amortized cost of $2556808 and $3263151 at September 30 2020 and December 31 2019 respectively)\t2607288\t3288343\nTotal investments\t2654390\t3329270\nMortgage loans held for sale\t192729\t58102\nOther assets held for sale\t389\t260332\nLoans\t14017442\t14425704\nAllowance for credit losses on loans\t(248251)\t(68244)\nNet loans\t13769191\t14357460\nPremises and equipment\t470491\t492384\nPremises held for sale\t4486\t0\nForeclosed assets and other real estate owned\t12590\t19121\nInterest receivable\t77352\t62707\nBank owned life insurance\t257718\t254152\nGoodwill\t1075305\t1055520\nOther intangible assets\t114460\t127340\nOther assets\t282102\t241578\nTotal assets\t21437395\t21259143\nLIABILITIES AND STOCKHOLDERS' EQUITY\t\t\nDeposits:\t\t\nNon-interest bearing transaction accounts\t4451385\t3741093\nInterest bearing transaction accounts and savings deposits\t8993255\t9090878\nTime deposits\t2802007\t3276969\nTotal deposits\t16246647\t16108940\nFederal funds purchased and securities sold under agreements to repurchase\t313694\t150145\nOther borrowings\t1342769\t1297599\nSubordinated debentures\t382739\t388260\nOther liabilities held for sale\t0\t159853\nAccrued interest and other liabilities\t209305\t165422\nTotal liabilities\t18495154\t18270219\nStockholders' equity:\t\t\nPreferred stock 40040000 shares authorized; Series D $0.01 par value $1000 liquidation value per share; 767 shares issued and outstanding at September 30 2020 and December 31 2019\t767\t767\nCommon stock Class A $0.01 par value; 175000000 shares authorized at September 30 2020 and December 31 2019; 109023781 and 113628601 shares issued and outstanding at September 30 2020 and December 31 2019 respectively\t1090\t1136\nSurplus\t2032372\t2117282\nUndivided profits\t866503\t848848\nAccumulated other comprehensive income\t41509\t20891\nTotal stockholders' equity\t2942241\t2988924\nTotal liabilities and stockholders' equity\t21437395\t21259143\n", "q10k_tbl_3": "\tThree Months Ended September 30\t\tNine Months Ended September 30\t\n(In thousands except per share data)\t2020\t2019\t2020\t2019\n\t(Unaudited)\t\t(Unaudited)\t\nINTEREST INCOME\t\t\t\t\nLoans\t163180\t179971\t527656\t517533\nInterest bearing balances due from banks and federal funds sold\t623\t1586\t3667\t4861\nInvestment securities\t14910\t14467\t47326\t46414\nMortgage loans held for sale\t1012\t382\t1961\t924\nTOTAL INTEREST INCOME\t179725\t196406\t580610\t569732\nINTEREST EXPENSE\t\t\t\t\nDeposits\t16206\t36936\t65489\t102482\nFederal funds purchased and securities sold under agreements to repurchase\t335\t249\t1431\t642\nOther borrowings\t4943\t5381\t14783\t18393\nSubordinated notes and debentures\t4631\t4576\t14133\t13528\nTOTAL INTEREST EXPENSE\t26115\t47142\t95836\t135045\nNET INTEREST INCOME\t153610\t149264\t484774\t434687\nProvision for credit losses\t22981\t21973\t68030\t38337\nNET INTEREST INCOME AFTER PROVISION FOR CREDIT LOSSES\t130629\t127291\t416744\t396350\nNON-INTEREST INCOME\t\t\t\t\nTrust income\t6744\t6108\t21148\t17610\nService charges on deposit accounts\t10385\t10825\t32283\t31450\nOther service charges and fees\t1764\t1308\t4841\t3909\nMortgage lending income\t13971\t4509\t31476\t10988\nSBA lending income\t304\t956\t845\t2348\nInvestment banking income\t557\t513\t2005\t1491\nDebit and credit card fees\t8850\t7059\t24760\t20369\nBank owned life insurance income\t1591\t1302\t4334\t3357\nGain on sale of securities net\t22305\t7374\t54790\t12937\nOther income\t5380\t44721\t27990\t54942\nTOTAL NON-INTEREST INCOME\t71851\t84675\t204472\t159401\nNON-INTEREST EXPENSE\t\t\t\t\nSalaries and employee benefits\t61144\t52065\t186712\t164560\nOccupancy expense net\t9647\t8342\t28374\t22736\nFurniture and equipment expense\t6231\t4898\t18098\t12462\nOther real estate and foreclosure expense\t602\t1125\t1201\t2353\nDeposit insurance\t2244\t0\t7557\t4550\nMerger related costs\t902\t2556\t3800\t11548\nOther operating expenses\t38179\t37879\t119618\t100808\nTOTAL NON-INTEREST EXPENSE\t118949\t106865\t365360\t319017\nINCOME BEFORE INCOME TAXES\t83531\t105101\t255856\t236734\nProvision for income taxes\t17633\t23275\t53920\t51289\nNET INCOME\t65898\t81826\t201936\t185445\nPreferred stock dividends\t13\t0\t39\t326\nNET INCOME AVAILABLE TO COMMON STOCKHOLDERS\t65885\t81826\t201897\t185119\nBASIC EARNINGS PER SHARE\t0.60\t0.85\t1.83\t1.95\nDILUTED EARNINGS PER SHARE\t0.60\t0.84\t1.83\t1.94\n", "q10k_tbl_4": "\tThree Months Ended September 30\t\tNine Months Ended September 30\t\n(In thousands)\t2020\t2019\t2020\t2019\n\t(Unaudited)\t\t(Unaudited)\t\nNET INCOME\t65898\t81826\t201936\t185445\nOTHER COMPREHENSIVE (LOSS) INCOME\t\t\t\t\nUnrealized holding gains arising during the period on available-for-sale securities\t4975\t18736\t82703\t79547\nUnrealized holding gain on the transfer of held-to-maturity securities to available-for-sale per ASU 2017-12\t0\t0\t0\t2547\nLess: Reclassification adjustment for realized gains included in net income\t22305\t7374\t54790\t12937\nOther comprehensive (loss) income before tax effect\t(17330)\t11362\t27913\t69157\nLess: Tax effect of other comprehensive (loss) income\t(4529)\t2969\t7295\t18074\nTOTAL OTHER COMPREHENSIVE (LOSS) INCOME\t(12801)\t8393\t20618\t51083\nCOMPREHENSIVE INCOME\t53097\t90219\t222554\t236528\n", "q10k_tbl_5": "(In thousands)\tSeptember 30 2020\tSeptember 30 2019\n\t(Unaudited)\t\nOPERATING ACTIVITIES\t\t\nNet income\t201936\t185445\nAdjustments to reconcile net income to net cash (used in) provided by operating activities:\t\t\nDepreciation and amortization\t36590\t25462\nProvision for credit losses\t68030\t38337\nGain on sale of investments\t(54790)\t(12937)\nNet accretion of investment securities and assets\t(43286)\t(35272)\nNet amortization on borrowings\t406\t273\nStock-based compensation expense\t10750\t9316\nGain on sale of premises and equipment net of impairment\t(33)\t0\nGain on sale of foreclosed assets held for sale\t(475)\t(16)\nGain on sale of mortgage loans held for sale\t(28994)\t(14196)\nLoss on sale of loans\t0\t4451\nGain on sale of Visa Inc. class B common stock\t0\t(42860)\nGain on sale of other intangibles\t(301)\t0\nGain on sale of branches\t(8094)\t0\nFair value write-down of closed branches\t1465\t0\nDeferred income taxes\t2920\t10933\nIncome from bank owned life insurance\t(4983)\t(3438)\nOriginations of mortgage loans held for sale\t(851356)\t(499178)\nProceeds from sale of mortgage loans held for sale\t745723\t490674\nChanges in assets and liabilities:\t\t\nInterest receivable\t(15601)\t(679)\nLease right-of-use assets\t8147\t(1370)\nOther assets\t(7009)\t13325\nAccrued interest and other liabilities\t35549\t10881\nIncome taxes payable\t(20206)\t18722\nNet cash provided by operating activities\t76388\t197873\nINVESTING ACTIVITIES\t\t\nNet collections (originations) of loans\t243826\t(299013)\nProceeds from sale of loans\t32742\t104587\nDecrease in due from banks - time\t493\t395\nPurchases of premises and equipment net\t(22697)\t(37523)\nProceeds from sale of premises and equipment\t123\t0\nProceeds from sale of foreclosed assets held for sale\t9705\t16139\nProceeds from sale of available-for-sale securities\t1717364\t543400\nProceeds from maturities of available-for-sale securities\t2218259\t412006\nPurchases of available-for-sale securities\t(3169534)\t(592165)\nProceeds from maturities of held-to-maturity securities\t10520\t29179\nPurchases of held-to-maturity securities\t(16997)\t0\nProceeds from bank owned life insurance death benefits\t1425\t1310\nDisposition of assets and liabilities held for sale\t181271\t1245\nPurchase of Reliance Bancshares Inc.\t0\t(37017)\nNet cash provided by investing activities\t1206500\t142543\nFINANCING ACTIVITIES\t\t\nNet change in deposits\t191714\t(156010)\nRepayments of subordinated debentures\t(5927)\t0\nDividends paid on preferred stock\t(39)\t(326)\nDividends paid on common stock\t(56141)\t(45722)\nNet change in other borrowed funds\t45170\t(404455)\nNet change in federal funds purchased and securities sold under agreements to repurchase\t163549\t6598\nNet shares cancelled under stock compensation plans\t(3355)\t(3301)\nShares issued under employee stock purchase plan\t956\t1312\nRetirement of preferred stock\t0\t(42000)\nRepurchases of common stock\t(93307)\t0\nNet cash provided by (used in) financing activities\t242620\t(643904)\nINCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS\t1525508\t(303488)\nCASH AND CASH EQUIVALENTS BEGINNING OF PERIOD\t996623\t833458\nCASH AND CASH EQUIVALENTS END OF PERIOD\t2522131\t529970\n", "q10k_tbl_6": "(In thousands except share data)\tPreferred Stock\tCommon Stock\tSurplus\tAccumulated Other Comprehensive Income (Loss)\tUndivided Profits\tTotal\nThree Months Ended September 30 2020\t\t\t\t\t\t\nBalance June 30 2020 (Unaudited)\t767\t1090\t2029383\t54310\t819153\t2904703\nComprehensive income\t0\t0\t0\t(12801)\t65898\t53097\nStock-based compensation plans net - 29392 shares\t0\t0\t2989\t0\t0\t2989\nDividends on preferred stock\t0\t0\t0\t0\t(13)\t(13)\nDividends on common stock - $0.17 per share\t0\t0\t0\t0\t(18535)\t(18535)\nBalance September 30 2020 (Unaudited)\t767\t1090\t2032372\t41509\t866503\t2942241\nThree Months Ended September 30 2019\t\t\t\t\t\t\nBalance June 30 2019 (Unaudited)\t0\t966\t1705262\t15316\t747969\t2469513\nComprehensive income\t0\t0\t0\t8393\t81826\t90219\nStock-based compensation plans net - 23199 shares\t0\t0\t2796\t0\t0\t2796\nDividends on common stock - $0.16 per share\t0\t0\t0\t0\t(15457)\t(15457)\nBalance September 30 2019 (Unaudited)\t0\t966\t1708058\t23709\t814338\t2547071\n", "q10k_tbl_7": "(In thousands except share data)\tPreferred Stock\tCommon Stock\tSurplus\tAccumulated Other Comprehensive Income (Loss)\tUndivided Profits\tTotal\nNine Months Ended September 30 2020\t\t\t\t\t\t\nBalance December 31 2019\t767\t1136\t2117282\t20891\t848848\t2988924\nImpact of ASU 2016-13 adoption\t0\t0\t0\t0\t(128101)\t(128101)\nComprehensive income\t0\t0\t0\t20618\t201936\t222554\nStock issued for employee stock purchase plan - 43681 shares\t0\t1\t955\t0\t0\t956\nStock-based compensation plans net - 273835 shares\t0\t2\t7393\t0\t0\t7395\nStock repurchases - 4922336 shares\t0\t(49)\t(93258)\t0\t0\t(93307)\nDividends on preferred stock\t0\t0\t0\t0\t(39)\t(39)\nDividends on common stock - $0.51 per share\t0\t0\t0\t0\t(56141)\t(56141)\nBalance September 30 2020 (Unaudited)\t767\t1090\t2032372\t41509\t866503\t2942241\nNine Months Ended September 30 2019\t\t\t\t\t\t\nBalance December 31 2018\t0\t923\t1597944\t(27374)\t674941\t2246434\nComprehensive income\t0\t0\t0\t51083\t185445\t236528\nStock issued for employee stock purchase plan - 60413 shares\t0\t1\t1311\t0\t0\t1312\nStock-based compensation plans net - 206176 shares\t0\t2\t6013\t0\t0\t6015\nStock issued for Reliance acquisition - 3999623 shares\t42000\t40\t102790\t0\t0\t144830\nPreferred stock retirement\t(42000)\t0\t0\t0\t0\t(42000)\nDividends on preferred stock\t0\t0\t0\t0\t(326)\t(326)\nDividends on common stock - $0.48 per share\t0\t0\t0\t0\t(45722)\t(45722)\nBalance September 30 2019 (Unaudited)\t0\t966\t1708058\t23709\t814338\t2547071\n", "q10k_tbl_8": "(In thousands)\tAcquired from Landrum\tFair Value Adjustments\tFair Value\nAssets Acquired\t\t\t\nCash and due from banks\t215285\t0\t215285\nDue from banks - time\t248\t0\t248\nInvestment securities\t1021755\t4228\t1025983\nLoans acquired\t2049137\t(43651)\t2005486\nAllowance for loan losses\t(22736)\t22736\t0\nForeclosed assets\t373\t(183)\t190\nPremises and equipment\t63878\t18781\t82659\nBank owned life insurance\t19206\t0\t19206\nGoodwill\t407\t(407)\t0\nCore deposit intangible\t0\t24345\t24345\nOther intangibles\t412\t4704\t5116\nOther assets\t33924\t(13290)\t20634\nTotal assets acquired\t3381889\t17263\t3399152\nLiabilities Assumed\t\t\t\nDeposits:\t\t\t\nNon-interest bearing transaction accounts\t716675\t0\t716675\nInterest bearing transaction accounts and savings deposits\t1465429\t0\t1465429\nTime deposits\t867197\t299\t867496\nTotal deposits\t3049301\t299\t3049600\nOther borrowings\t10055\t0\t10055\nSubordinated debentures\t34794\t(877)\t33917\nAccrued interest and other liabilities\t31057\t9869\t40926\nTotal liabilities assumed\t3125207\t9291\t3134498\nEquity\t256682\t(256682)\t0\nTotal equity assumed\t256682\t(256682)\t0\nTotal liabilities and equity assumed\t3381889\t(247391)\t3134498\nNet assets acquired\t\t\t264654\nPurchase price\t\t\t415779\nGoodwill\t\t\t151125\n", "q10k_tbl_9": "(In thousands)\tAcquired from Reliance\tFair Value Adjustments\tFair Value\nAssets Acquired\t\t\t\nCash and due from banks\t25693\t0\t25693\nDue from banks - time\t502\t0\t502\nInvestment securities\t287983\t(1873)\t286110\nLoans acquired\t1138527\t(41657)\t1096870\nAllowance for loan losses\t(10808)\t10808\t0\nForeclosed assets\t11092\t(5180)\t5912\nPremises and equipment\t32452\t(3001)\t29451\nBank owned life insurance\t39348\t0\t39348\nCore deposit intangible\t0\t18350\t18350\nOther assets\t25165\t6911\t32076\nTotal assets acquired\t1549954\t(15642)\t1534312\n", "q10k_tbl_10": "(In thousands)\tAcquired from Reliance\tFair Value Adjustments\tFair Value\nLiabilities Assumed\t\t\t\nDeposits:\t\t\t\nNon-interest bearing transaction accounts\t108845\t(33)\t108812\nInterest bearing transaction accounts and savings deposits\t639798\t0\t639798\nTime deposits\t478415\t(1758)\t476657\nTotal deposits\t1227058\t(1791)\t1225267\nSecurities sold under agreement to repurchase\t14146\t0\t14146\nOther borrowings\t162900\t(5500)\t157400\nAccrued interest and other liabilities\t8185\t268\t8453\nTotal liabilities assumed\t1412289\t(7023)\t1405266\nEquity\t137665\t(137665)\t0\nTotal equity assumed\t137665\t(137665)\t0\nTotal liabilities and equity assumed\t1549954\t(144688)\t1405266\nNet assets acquired\t\t\t129046\nPurchase price\t\t\t207539\nGoodwill\t\t\t78493\n", "q10k_tbl_11": "(In thousands)\tAmortized Cost\tAllowance for Credit Losses\tNet Carrying Amount\tGross Unrealized Gains\tGross Unrealized (Losses)\tEstimated Fair Value\nHeld-to-Maturity\t\t\t\t\t\t\nSeptember 30 2020\t\t\t\t\t\t\nMortgage-backed securities\t24297\t0\t24297\t701\t(1)\t24997\nState and political subdivisions\t22003\t(73)\t21930\t1155\t(1)\t23084\nOther securities\t1175\t(300)\t875\t108\t\t983\nTotal HTM\t47475\t(373)\t47102\t1964\t(2)\t49064\nDecember 31 2019\t\t\t\t\t\t\nMortgage-backed securities\t10796\t0\t10796\t71\t(59)\t10808\nState and political subdivisions\t27082\t0\t27082\t849\t0\t27931\nOther securities\t3049\t0\t3049\t67\t0\t3116\nTotal HTM\t40927\t0\t40927\t987\t(59)\t41855\n", "q10k_tbl_12": "(In thousands)\tAmortized Cost\tAllowance for Credit Losses\tGross Unrealized Gains\tGross Unrealized (Losses)\tEstimated Fair Value\nAvailable-for-sale\t\t\t\t\t\nSeptember 30 2020\t\t\t\t\t\nU.S. Government agencies\t472078\t0\t1257\t(1362)\t471973\nMortgage-backed securities\t882076\t0\t22050\t(439)\t903687\nState and political subdivisions\t1105341\t(1148)\t32001\t(3188)\t1133006\nOther securities\t97313\t(60)\t1429\t(60)\t98622\nTotal AFS\t2556808\t(1208)\t56737\t(5049)\t2607288\nDecember 31 2019\t\t\t\t\t\nU.S. Treasury\t449729\t0\t112\t(112)\t449729\nU.S. Government agencies\t194207\t0\t1313\t(1271)\t194249\nMortgage-backed securities\t1738584\t0\t8510\t(4149)\t1742945\nState and political subdivisions\t860539\t0\t20983\t(998)\t880524\nOther securities\t20092\t0\t822\t(18)\t20896\nTotal AFS\t3263151\t0\t31740\t(6548)\t3288343\n", "q10k_tbl_13": "\tLess Than 12 Months\t\t12 Months or More\t\tTotal\t\n(In thousands)\tEstimated Fair Value\tGross Unrealized Losses\tEstimated Fair Value\tGross Unrealized Losses\tEstimated Fair Value\tGross Unrealized Losses\nAvailable-for-sale\t\t\t\t\t\t\nU.S. Government agencies\t213014\t(440)\t54329\t(922)\t267343\t(1362)\nMortgage-backed securities\t95213\t(433)\t4038\t(6)\t99251\t(439)\nState and political subdivisions\t108153\t(2039)\t386\t(1)\t108539\t(2040)\nTotal AFS\t416380\t(2912)\t58753\t(929)\t475133\t(3841)\n", "q10k_tbl_14": "(In thousands)\tState and Political Subdivisions\tOther Securities\tTotal\nThree Months Ended September 30 2020\t\t\t\nHeld-to-Maturity\t\t\t\nBeginning balance July 1 2020\t95\t212\t307\nProvision for credit loss expense\t(22)\t88\t66\nEnding balance September 30 2020\t73\t300\t373\nAvailable-for-sale\t\t\t\nBeginning balance July 1 2020\t371\t238\t609\nCredit losses on securities not previously recorded\t1137\t23\t1160\nReduction due to sales\t(294)\t0\t(294)\nNet decrease in allowance on previously impaired securities\t(66)\t(201)\t(267)\nEnding balance September 30 2020\t1148\t60\t1208\nNine Months Ended September 30 2020\t\t\t\nHeld-to-Maturity\t\t\t\nBeginning balance January 1 2020\t0\t0\t0\nImpact of ASU 2016-13 adoption\t58\t311\t369\nProvision for credit loss expense\t15\t(11)\t4\nEnding balance September 30 2020\t73\t300\t373\nAvailable-for-sale\t\t\t\nBeginning balance January 1 2020\t0\t0\t0\nImpact of ASU 2016-13 adoption\t373\t0\t373\nCredit losses on securities not previously recorded\t1130\t78\t1208\nReduction due to sales\t(244)\t0\t(244)\nNet decrease in allowance on previously impaired securities\t(111)\t(18)\t(129)\nEnding balance September 30 2020\t1148\t60\t1208\n", "q10k_tbl_15": "\tState and Political Subdivisions\t\t\t\t\n(In thousands)\tNot Guaranteed or Pre-Refunded\tOther Credit Enhancement or Insurance\tPre-Refunded\tTotal\tOther Securities\nAaa/AAA\t865\t0\t0\t865\t0\nAa/AA\t11270\t5445\t0\t16715\t0\nA\t960\t1058\t0\t2018\t0\nBaa\t0\t426\t0\t426\t0\nNot Rated\t1611\t368\t0\t1979\t1175\nTotal\t14706\t7297\t0\t22003\t1175\n", "q10k_tbl_16": "\tThree Months Ended September 30\t\tNine Months Ended September 30\t\n(In thousands)\t2020\t2019\t2020\t2019\nTaxable:\t\t\t\t\nHeld-to-maturity\t256\t248\t715\t975\nAvailable-for-sale\t6937\t9266\t26604\t31563\nNon-taxable:\t\t\t\t\nHeld-to-maturity\t65\t83\t205\t1334\nAvailable-for-sale\t7652\t4870\t19802\t12542\nTotal\t14910\t14467\t47326\t46414\n", "q10k_tbl_17": "\tHeld-to-Maturity\t\tAvailable-for-Sale\t\n(In thousands)\tAmortized Cost\tFair Value\tAmortized Cost\tFair Value\nOne year or less\t4205\t4243\t15432\t15538\nAfter one through five years\t13117\t13698\t33170\t33657\nAfter five through ten years\t5856\t6126\t192972\t195045\nAfter ten years\t0\t0\t1432064\t1458119\nSecurities not due on a single maturity date\t24297\t24997\t882076\t903687\nOther securities (no maturity)\t0\t0\t1094\t1242\nTotal\t47475\t49064\t2556808\t2607288\n", "q10k_tbl_18": "\tSeptember 30\tDecember 31\n(In thousands)\t2020\t2019\nConsumer:\t\t\nCredit cards\t172880\t204802\nOther consumer\t190736\t249195\nTotal consumer\t363616\t453997\nReal Estate:\t\t\nConstruction and development\t1853360\t2248673\nSingle family residential\t1997070\t2414753\nOther commercial\t6132823\t6358514\nTotal real estate\t9983253\t11021940\nCommercial:\t\t\nCommercial\t2907798\t2451119\nAgricultural\t241687\t191525\nTotal commercial\t3149485\t2642644\nOther\t521088\t307123\nTotal loans\t14017442\t14425704\n", "q10k_tbl_19": "\tSeptember 30\tDecember 31\n(In thousands)\t2020\t2019\nConsumer:\t\t\nCredit cards\t253\t382\nOther consumer\t1371\t1705\nTotal consumer\t1624\t2087\nReal estate:\t\t\nConstruction and development\t3806\t5289\nSingle family residential\t31080\t27695\nOther commercial\t80427\t16582\nTotal real estate\t115313\t49566\nCommercial:\t\t\nCommercial\t50239\t40924\nAgricultural\t537\t753\nTotal commercial\t50776\t41677\nTotal\t167713\t93330\n", "q10k_tbl_20": "(In thousands)\tGross 30-89 Days Past Due\t90 Days or More Past Due\tTotal Past Due\tCurrent\tTotal Loans\t90 Days Past Due & Accruing\nSeptember 30 2020\t\t\t\t\t\t\nConsumer:\t\t\t\t\t\t\nCredit cards\t672\t262\t934\t171946\t172880\t95\nOther consumer\t2302\t391\t2693\t188043\t190736\t6\nTotal consumer\t2974\t653\t3627\t359989\t363616\t101\nReal estate:\t\t\t\t\t\t\nConstruction and development\t1168\t2526\t3694\t1849666\t1853360\t0\nSingle family residential\t12170\t14522\t26692\t1970378\t1997070\t64\nOther commercial\t5115\t11885\t17000\t6115823\t6132823\t2\nTotal real estate\t18453\t28933\t47386\t9935867\t9983253\t66\nCommercial:\t\t\t\t\t\t\nCommercial\t6984\t5824\t12808\t2894990\t2907798\t7\nAgricultural\t290\t328\t618\t241069\t241687\t0\nTotal commercial\t7274\t6152\t13426\t3136059\t3149485\t7\nOther\t0\t0\t0\t521088\t521088\t0\nTotal\t28701\t35738\t64439\t13953003\t14017442\t174\n", "q10k_tbl_21": "(In thousands)\tGross 30-89 Days Past Due\t90 Days or More Past Due\tTotal Past Due\tCurrent\tTotal Loans\t90 Days Past Due & Accruing\nDecember 31 2019\t\t\t\t\t\t\nConsumer:\t\t\t\t\t\t\nCredit cards\t848\t641\t1489\t203313\t204802\t259\nOther consumer\t4884\t735\t5619\t243576\t249195\t0\nTotal consumer\t5732\t1376\t7108\t446889\t453997\t259\nReal estate:\t\t\t\t\t\t\nConstruction and development\t5792\t1078\t6870\t2241803\t2248673\t0\nSingle family residential\t26318\t13789\t40107\t2374646\t2414753\t597\nOther commercial\t7645\t6450\t14095\t6344419\t6358514\t0\nTotal real estate\t39755\t21317\t61072\t10960868\t11021940\t597\nCommercial:\t\t\t\t\t\t\nCommercial\t10579\t13551\t24130\t2426989\t2451119\t0\nAgricultural\t1223\t456\t1679\t189846\t191525\t0\nTotal commercial\t11802\t14007\t25809\t2616835\t2642644\t0\nOther\t0\t0\t0\t307123\t307123\t0\nTotal\t57289\t36700\t93989\t14331715\t14425704\t856\n", "q10k_tbl_22": "(In thousands)\tUnpaid Contractual Principal Balance\tRecorded Investment With No Allowance\tRecorded Investment With Allowance\tTotal Recorded Investment\tRelated Allowance\tAverage Investment in Impaired Loans\tInterest Income Recognized\tAverage Investment in Impaired Loans\tInterest Income Recognized\nDecember 31 2019\t\t\t\t\t\tThree Months Ended September 30 2019\t\tNine Months Ended September 30 2019\t\nConsumer:\t\t\t\t\t\t\t\t\t\nCredit cards\t382\t382\t0\t382\t0\t423\t40\t370\t110\nOther consumer\t1537\t1378\t0\t1378\t0\t1603\t9\t1730\t33\nTotal consumer\t1919\t1760\t0\t1760\t0\t2026\t49\t2100\t143\nReal estate:\t\t\t\t\t\t\t\t\t\nConstruction and development\t4648\t4466\t72\t4538\t4\t1972\t10\t1946\t38\nSingle family residential\t19466\t15139\t2963\t18102\t42\t15920\t85\t14812\t287\nOther commercial\t10645\t4713\t3740\t8453\t694\t11739\t77\t10365\t201\nTotal real estate\t34759\t24318\t6775\t31093\t740\t29631\t172\t27123\t526\nCommercial:\t\t\t\t\t\t\t\t\t\nCommercial\t53436\t6582\t28998\t35580\t5007\t32020\t176\t26379\t511\nAgricultural\t525\t383\t116\t499\t0\t873\t3\t1010\t20\nTotal commercial\t53961\t6965\t29114\t36079\t5007\t32893\t179\t27389\t531\nTotal\t90639\t33043\t35889\t68932\t5747\t64550\t400\t56612\t1200\n", "q10k_tbl_23": "(Dollars in thousands)\tNumber\tBalance\nReal Estate Rental and Leasing\t1162\t1263884\nAccommodation and Food Services\t386\t845803\nHealth Care and Social Assistance\t226\t278200\nConstruction\t186\t190337\nRetail Trade\t145\t130498\nOther Services (Except Public Administration)\t131\t58169\nOther\t1720\t444053\nTotal\t3956\t3210944\n", "q10k_tbl_24": "\tAccruing TDR Loans\t\tNonaccrual TDR Loans\t\tTotal TDR Loans\t\n(Dollars in thousands)\tNumber\tBalance\tNumber\tBalance\tNumber\tBalance\nSeptember 30 2020\t\t\t\t\t\t\nReal estate:\t\t\t\t\t\t\nSingle-family residential\t31\t2700\t18\t3008\t49\t5708\nOther commercial\t1\t49\t1\t15\t2\t64\nTotal real estate\t32\t2749\t19\t3023\t51\t5772\nCommercial:\t\t\t\t\t\t\nCommercial\t3\t630\t3\t2154\t6\t2784\nTotal commercial\t3\t630\t3\t2154\t6\t2784\nTotal\t35\t3379\t22\t5177\t57\t8556\n", "q10k_tbl_25": "\tAccruing TDR Loans\t\tNonaccrual TDR Loans\t\tTotal TDR Loans\t\n(Dollars in thousands)\tNumber\tBalance\tNumber\tBalance\tNumber\tBalance\nDecember 31 2019\t\t\t\t\t\t\nReal estate:\t\t\t\t\t\t\nConstruction and development\t0\t0\t1\t72\t1\t72\nSingle-family residential\t25\t2627\t20\t1330\t45\t3957\nOther commercial\t1\t476\t2\t80\t3\t556\nTotal real estate\t26\t3103\t23\t1482\t49\t4585\nCommercial:\t\t\t\t\t\t\nCommercial\t4\t2784\t3\t79\t7\t2863\nTotal commercial\t4\t2784\t3\t79\t7\t2863\nTotal\t30\t5887\t26\t1561\t56\t7448\n", "q10k_tbl_26": "(Dollars in thousands)\tNumber of loans\tBalance Prior to TDR\tBalance at September 30\tChange in Maturity Date\tChange in Rate\tFinancial Impact on Date of Restructure\nNine Months Ended September 30 2020\t\t\t\t\t\t\nReal estate:\t\t\t\t\t\t\nSingle-family residential\t5\t1948\t1896\t1896\t0\t0\nTotal real estate\t5\t1948\t1896\t1896\t0\t0\nThree and Nine Months Ended September 30 2019\t\t\t\t\t\t\nReal estate:\t\t\t\t\t\t\nSingle-family residential\t1\t330\t330\t330\t0\t0\nTotal real estate\t1\t330\t330\t330\t0\t0\n", "q10k_tbl_27": "\tTerm Loans Amortized Cost Basis by Origination Year\t\t\t\t\t\t\t\t\n(In thousands)\t2020 (YTD)\t2019\t2018\t2017\t2016\t2015 and Prior\tLines of Credit (\"LOC\") Amortized Cost Basis\tLOC Converted to Term Loans Amortized Cost Basis\tTotal\nConsumer - credit cards\t\t\t\t\t\t\t\t\t\nDelinquency:\t\t\t\t\t\t\t\t\t\n30-89 days past due\t0\t0\t0\t0\t0\t0\t672\t0\t672\n90+ days past due\t0\t0\t0\t0\t0\t0\t262\t0\t262\nTotal consumer - credit cards\t0\t0\t0\t0\t0\t0\t934\t0\t934\nConsumer - other\t\t\t\t\t\t\t\t\t\nDelinquency:\t\t\t\t\t\t\t\t\t\n30-89 days past due\t213\t404\t344\t634\t505\t124\t78\t0\t2302\n90+ days past due\t4\t55\t72\t94\t48\t8\t110\t0\t391\nTotal consumer - other\t217\t459\t416\t728\t553\t132\t188\t0\t2693\nReal estate - C&D\t\t\t\t\t\t\t\t\t\nRisk rating:\t\t\t\t\t\t\t\t\t\n5 internal grade\t504\t357\t173\t2171\t19\t238\t4707\t0\t8169\n6 internal grade\t244\t2127\t447\t539\t366\t570\t579\t0\t4872\n7 internal grade\t0\t0\t0\t0\t0\t0\t0\t0\t0\nTotal real estate - C&D\t748\t2484\t620\t2710\t385\t808\t5286\t0\t13041\nReal estate - SF residential\t\t\t\t\t\t\t\t\t\nDelinquency:\t\t\t\t\t\t\t\t\t\n30-89 days past due\t1080\t1417\t1602\t1686\t1395\t3365\t1625\t0\t12170\n90+ days past due\t26\t2308\t2873\t2438\t918\t3743\t2217\t0\t14523\nTotal real estate - SF residential\t1106\t3725\t4475\t4124\t2313\t7108\t3842\t0\t26693\nReal estate - other commercial\t\t\t\t\t\t\t\t\t\nRisk rating:\t\t\t\t\t\t\t\t\t\n5 internal grade\t17230\t4973\t24463\t14997\t1744\t10844\t61045\t16005\t151301\n6 internal grade\t29267\t9544\t13940\t5751\t15069\t10114\t54571\t48444\t186700\n7 internal grade\t0\t0\t0\t0\t0\t\t0\t0\t0\nTotal real estate - other commercial\t46497\t14517\t38403\t20748\t16813\t20958\t115616\t64449\t338001\nCommercial\t\t\t\t\t\t\t\t\t\nRisk rating:\t\t\t\t\t\t\t\t\t\n5 internal grade\t914\t1255\t1662\t896\t332\t14\t45106\t569\t50748\n6 internal grade\t7062\t3434\t19418\t2407\t1232\t1077\t51387\t522\t86539\n7 internal grade\t0\t0\t0\t0\t0\t0\t0\t0\t0\nTotal commercial\t7976\t4689\t21080\t3303\t1564\t1091\t96493\t1091\t137287\nCommercial - agriculture\t\t\t\t\t\t\t\t\t\nRisk rating:\t\t\t\t\t\t\t\t\t\n5 internal grade\t35\t83\t14\t325\t0\t0\t34\t0\t491\n6 internal grade\t72\t140\t166\t53\t42\t10\t83\t0\t566\n7 internal grade\t0\t0\t0\t0\t0\t0\t0\t0\t0\nTotal commercial - agriculture\t107\t223\t180\t378\t42\t10\t117\t0\t1057\nTotal\t56651\t26097\t65174\t31991\t21670\t30107\t222476\t65540\t519706\n", "q10k_tbl_28": "(In thousands)\tRisk Rate 1-4\tRisk Rate 5\tRisk Rate 6\tRisk Rate 7\tRisk Rate 8\tTotal\nDecember 31 2019\t\t\t\t\t\t\nConsumer:\t\t\t\t\t\t\nCredit cards\t204161\t0\t641\t0\t0\t204802\nOther consumer\t247668\t0\t2026\t0\t0\t249694\nTotal consumer\t451829\t0\t2667\t0\t0\t454496\nReal estate:\t\t\t\t\t\t\nConstruction and development\t2229019\t70\t7735\t0\t37\t2236861\nSingle family residential\t2394284\t6049\t41601\t130\t0\t2442064\nOther commercial\t6068425\t69745\t67429\t0\t0\t6205599\nTotal real estate\t10691728\t75864\t116765\t130\t37\t10884524\nCommercial:\t\t\t\t\t\t\nCommercial\t2384263\t26713\t84317\t43\t180\t2495516\nAgricultural\t309741\t41\t5672\t0\t0\t315454\nTotal commercial\t2694004\t26754\t89989\t43\t180\t2810970\nOther\t275714\t0\t0\t0\t0\t275714\nTotal\t14113275\t102618\t209421\t173\t217\t14425704\n", "q10k_tbl_29": "(In thousands)\tReal Estate Collateral\tEnergy\tOther Collateral\tTotal\nConstruction and development\t1538\t0\t0\t1538\nSingle family residential\t6722\t0\t0\t6722\nOther commercial real estate\t40358\t0\t0\t40358\nCommercial\t0\t19100\t4009\t23109\nTotal\t48618\t19100\t4009\t71727\n", "q10k_tbl_30": "(In thousands)\tCommercial\tReal Estate\tCredit Card\tOther Consumer and Other\tTotal\nAllowance for credit losses:\t\t\t\t\t\nThree Months Ended September 30 2020\t\t\t\t\t\nBeginning balance July 1 2020\t59138\t149471\t10979\t12055\t231643\nProvision for credit loss expense\t(6499)\t33479\t(1823)\t(2844)\t22313\nCharge-offs\t(4327)\t(1153)\t(832)\t(1091)\t(7403)\nRecoveries\t936\t120\t276\t366\t1698\nNet charge-offs\t(3391)\t(1033)\t(556)\t(725)\t(5705)\nEnding balance September 30 2020\t49248\t181917\t8600\t8486\t248251\n", "q10k_tbl_31": "(In thousands)\tCommercial\tReal Estate\tCredit Card\tOther Consumer and Other\tTotal\nNine Months Ended September 30 2020\t\t\t\t\t\nBeginning balance January 1 2020 - prior to adoption of CECL\t22863\t39161\t4051\t2169\t68244\nImpact of CECL adoption\t22733\t114314\t2232\t12098\t151377\nProvision for credit loss expense\t42808\t31341\t4870\t(3829)\t75190\nCharge-offs\t(40537)\t(3373)\t(3326)\t(3062)\t(50298)\nRecoveries\t1381\t474\t773\t1110\t3738\nNet charge-offs\t(39156)\t(2899)\t(2553)\t(1952)\t(46560)\nEnding balance September 30 2020\t49248\t181917\t8600\t8486\t248251\n", "q10k_tbl_32": "(In thousands)\tCommercial\tReal Estate\tCredit Card\tOther Consumer and Other\tTotal\nAllowance for credit losses:\t\t\t\t\t\nThree Months Ended September 30 2019\t\t\t\t\t\nBeginning balance July 1 2019\t21354\t36493\t3951\t2381\t64179\nProvision for credit losses\t19150\t2405\t946\t(528)\t21973\nCharge-offs\t(17778)\t(1367)\t(1117)\t(1065)\t(21327)\nRecoveries\t65\t55\t223\t1422\t1765\nNet (charge-offs) recoveries\t(17713)\t(1312)\t(894)\t357\t(19562)\nEnding balance September 30 2019\t22791\t37586\t4003\t2210\t66590\nNine Months Ended September 30 2019\t\t\t\t\t\nBeginning balance January 1 2019\t20514\t29838\t3923\t2419\t56694\nProvision for credit losses\t23980\t10393\t2644\t1320\t38337\nCharge-offs\t(22893)\t(3000)\t(3298)\t(3582)\t(32773)\nRecoveries\t1190\t355\t734\t2053\t4332\nNet charge-offs\t(21703)\t(2645)\t(2564)\t(1529)\t(28441)\nEnding balance September 30 2019\t22791\t37586\t4003\t2210\t66590\n", "q10k_tbl_33": "\tSeptember 30\tDecember 31\n(Dollars in thousands)\t2020\t2019\nRight-of-use lease assets\t32528\t40675\nLease liabilities\t32804\t40854\nWeighted average remaining lease term\t8.60 years\t8.37 years\nWeighted average discount rate\t3.26%\t3.27%\n", "q10k_tbl_34": "\tSeptember 30\tDecember 31\n(In thousands)\t2020\t2019\nRight-of-use lease assets\t32528\t40675\nPremises and equipment:\t\t\nLand\t96661\t99931\nBuildings and improvements\t306995\t309290\nFurniture fixtures and equipment\t100821\t99343\nSoftware\t66417\t56012\nConstruction in progress\t3787\t6998\nAccumulated depreciation and amortization\t(136718)\t(119865)\nTotal premises and equipment net\t470491\t492384\n", "q10k_tbl_35": "\tSeptember 30\tDecember 31\n(In thousands)\t2020\t2019\nCore deposit premiums:\t\t\nBalance beginning of year\t111808\t79807\nAcquisitions(1)\t0\t42695\nDisposition of intangible asset(2)\t(2324)\t0\nAmortization\t(9114)\t(10694)\nBalance end of period\t100370\t111808\nBooks of business and other intangibles:\t\t\nBalance beginning of year\t15532\t11527\nAcquisitions(3)\t0\t5116\nDisposition of intangible asset\t(413)\t0\nAmortization\t(1029)\t(1111)\nBalance end of period\t14090\t15532\nTotal other intangible assets net\t114460\t127340\n", "q10k_tbl_36": "\tSeptember 30\tDecember 31\n(In thousands)\t2020\t2019\nCore deposit premiums:\t\t\nGross carrying amount\t146355\t148679\nAccumulated amortization\t(45985)\t(36871)\nCore deposit premiums net\t100370\t111808\nBooks of business and other intangibles:\t\t\nGross carrying amount\t19938\t20350\nAccumulated amortization\t(5848)\t(4818)\nBooks of business and other intangibles net\t14090\t15532\nTotal other intangible assets net\t114460\t127340\n", "q10k_tbl_37": "(In thousands)\tYear\tAmortization Expense\n\tRemainder of 2020\t3351\n\t2021\t13379\n\t2022\t13327\n\t2023\t13044\n\t2024\t12141\n\tThereafter\t59218\n\tTotal\t114460\n", "q10k_tbl_38": "\tThree Months Ended September 30\t\tNine Months Ended September 30\t\n(In thousands)\t2020\t2019\t2020\t2019\nIncome taxes currently payable\t19329\t17282\t51000\t40356\nDeferred income taxes\t(1696)\t5993\t2920\t10933\nProvision for income taxes\t17633\t23275\t53920\t51289\n", "q10k_tbl_39": "\tSeptember 30\tDecember 31\n(In thousands)\t2020\t2019\nDeferred tax assets:\t\t\nLoans acquired\t11933\t20783\nAllowance for credit losses\t59918\t16732\nValuation of foreclosed assets\t2636\t2626\nTax NOLs from acquisition\t16165\t18118\nDeferred compensation payable\t3009\t2750\nAccrued equity and other compensation\t7179\t6677\nAcquired securities\t0\t3393\nRight-of-use lease liability\t8230\t10221\nAllowance for unfunded commitments\t6122\t0\nOther\t6004\t7886\nGross deferred tax assets\t121196\t89186\nDeferred tax liabilities:\t\t\nGoodwill and other intangible amortization\t(39495)\t(41221)\nAccumulated depreciation\t(36731)\t(36554)\nRight-of-use lease asset\t(8161)\t(10176)\nUnrealized gain on available-for-sale securities\t(12321)\t(3720)\nDeferred loan fees and costs\t(2696)\t(3018)\nAcquired securities\t(870)\t0\nOther\t(4972)\t(4633)\nGross deferred tax liabilities\t(105246)\t(99322)\nNet deferred tax asset (liability)\t15950\t(10136)\n", "q10k_tbl_40": "\tThree Months Ended September 30\t\tNine Months Ended September 30\t\n(In thousands)\t2020\t2019\t2020\t2019\nComputed at the statutory rate (21%)\t17539\t22071\t53719\t49646\nIncrease (decrease) in taxes resulting from:\t\t\t\t\nState income taxes net of federal tax benefit\t1143\t2956\t5502\t5721\nTax exempt interest income\t(1752)\t(1105)\t(4594)\t(3090)\nTax exempt earnings on BOLI\t(308)\t(225)\t(839)\t(619)\nFederal tax credits\t(434)\t(344)\t(1252)\t(1029)\nOther differences net\t1445\t(78)\t1384\t660\nActual tax provision\t17633\t23275\t53920\t51289\n", "q10k_tbl_41": "\tRemaining Contractual Maturity of the Agreements\t\t\t\t\n(In thousands)\tOvernight and Continuous\tUp to 30 Days\t30-90 Days\tGreater than 90 Days\tTotal\nSeptember 30 2020\t\t\t\t\t\nRepurchase agreements:\t\t\t\t\t\nU.S. Government agencies\t263444\t0\t0\t0\t263444\nDecember 31 2019\t\t\t\t\t\nRepurchase agreements:\t\t\t\t\t\nU.S. Government agencies\t133220\t0\t0\t0\t133220\n", "q10k_tbl_42": "\tSeptember 30\tDecember 31\n(In thousands)\t2020\t2019\nOther Borrowings\t\t\nFHLB advances net of discount due 2020 to 2035 0.23% to 7.37% secured by real estate loans\t1308994\t1262691\nOther long-term debt\t33775\t34908\nTotal other borrowings\t1342769\t1297599\nSubordinated Notes and Debentures\t\t\nSubordinated notes payable due 4/1/2028 fixed-to-floating rate (fixed rate of 5.00% through 3/31/2023 floating rate of 2.15% above the three month LIBOR rate reset quarterly)\t330000\t330000\nTrust preferred securities net of discount due 9/15/2037 floating rate of 1.37% above the three month LIBOR rate reset quarterly\t10310\t10310\nTrust preferred securities net of discount due 6/6/2037 floating rate of 1.57% above the three month LIBOR rate reset quarterly callable without penalty\t10310\t10310\nTrust preferred securities due 12/15/2035 floating rate of 1.45% above the three month LIBOR rate reset quarterly callable without penalty\t6702\t6702\nTrust preferred securities net of discount due 6/15/2037 floating rate of 1.85% above the three month LIBOR rate reset quarterly callable without penalty\t25133\t25015\nTrust preferred securities net of discount due 12/15/2036 floating rate of 1.85% above the three month LIBOR rate reset quarterly callable without penalty\t3018\t3004\nOther subordinated debentures due 12/31/2036 floating rate of prime rate minus 1.1% reset quarterly\t0\t5927\nUnamortized debt issuance costs\t(2734)\t(3008)\nTotal subordinated notes and debentures\t382739\t388260\nTotal other borrowings and subordinated debt\t1725508\t1685859\n", "q10k_tbl_43": "Year\t(In thousands)\nRemainder of 2020\t589\n2021\t2772\n2022\t1936\n2023\t1758\n2024\t2399\nThereafter\t416054\nTotal\t425508\n", "q10k_tbl_44": "\tStock Options Outstanding\t\tNon-vested Stock Awards Outstanding\t\tNon-vested Stock Units Outstanding\t\n(Shares in thousands)\tNumber of Shares\tWeighted Average Exercise Price\tNumber of Shares\tWeighted Average Grant-Date Fair Value\tNumber of Shares\tWeighted Average Grant-Date Fair Value\nBalance January 1 2020\t692\t22.46\t21\t23.19\t1152\t26.79\nGranted\t0\t0\t0\t0\t518\t21.94\nStock options exercised\t(1)\t10.71\t0\t0\t0\t0\nStock awards/units vested (earned)\t0\t0\t(11)\t22.57\t(426)\t25.95\nForfeited/expired\t(33)\t22.49\t0\t0\t(116)\t26.49\nBalance September 30 2020\t658\t22.48\t10\t23.87\t1128\t24.90\nExercisable September 30 2020\t658\t22.48\t\t\t\t\n", "q10k_tbl_45": "\t\t\tOptions Outstanding\t\t\tOptions Exercisable\t\nRange of Exercise Prices\t\t\tNumber of Shares (In thousands)\tWeighted Average Remaining Contractual Life (Years)\tWeighted Average Exercise Price\tNumber of Shares (In thousands)\tWeighted Average Exercise Price\n9.46\t0\t9.46\t1\t1.30\t9.46\t1\t9.46\n10.65\t0\t10.65\t3\t2.33\t10.65\t3\t10.65\n20.29\t0\t20.29\t66\t3.45\t20.29\t66\t20.29\n20.36\t0\t20.36\t2\t4.13\t20.36\t2\t20.36\n22.20\t0\t22.20\t74\t3.38\t22.20\t74\t22.20\n22.75\t0\t22.75\t412\t4.14\t22.75\t412\t22.75\n23.51\t0\t23.51\t93\t4.54\t23.51\t93\t23.51\n24.07\t0\t24.07\t7\t4.96\t24.07\t7\t24.07\n9.46\t0\t24.07\t658\t4.03\t22.48\t658\t22.48\n", "q10k_tbl_46": "(In thousands)\tPerformance Stock Units\nNon-vested January 1 2020\t199\nGranted\t122\nVested (earned)\t(80)\nForfeited\t(19)\nNon-vested September 30 2020\t222\n", "q10k_tbl_47": "\tThree Months Ended September 30\t\tNine Months Ended September 30\t\n(In thousands except per share data)\t2020\t2019\t2020\t2019\nNet income available to common stockholders\t65885\t81826\t201897\t185119\nAverage common shares outstanding\t109019\t96608\t110292\t95090\nAverage potential dilutive common shares\t189\t360\t189\t360\nAverage diluted common shares\t109208\t96968\t110481\t95450\nBasic earnings per share\t0.60\t0.85\t1.83\t1.95\nDiluted earnings per share\t0.60\t0.84\t1.83\t1.94\n", "q10k_tbl_48": "\tNine Months Ended September 30\t\n(In thousands)\t2020\t2019\nInterest paid\t95040\t130904\nIncome taxes paid\t30708\t34028\nTransfers of loans to foreclosed assets held for sale\t3083\t3666\nTransfers of premises to foreclosed assets and other real estate owned\t3120\t556\nTransfers of premises to premises held for sale\t1072\t0\nTransfers of other real estate owned to premises held for sale\t3504\t0\nRight-of-use lease assets obtained in exchange for lessee operating lease liabilities (adoption of ASU 2016-02)\t0\t32757\nTransfers of loans to other assets held for sale\t114925\t0\nTransfers of deposits to other liabilities held for sale\t58405\t0\n", "q10k_tbl_49": "\tThree Months Ended September 30\t\tNine Months Ended September 30\t\n(In thousands)\t2020\t2019\t2020\t2019\nProfessional services\t3779\t4310\t13529\t12125\nPostage\t1932\t1471\t5937\t4642\nTelephone\t2103\t2506\t6738\t5605\nCredit card expense\t5190\t4200\t14154\t11822\nMarketing\t3517\t7021\t11430\t12514\nSoftware and technology\t9552\t6531\t29021\t16607\nOperating supplies\t824\t493\t2588\t1671\nAmortization of intangibles\t3362\t2947\t10144\t8535\nBranch right sizing expense\t442\t160\t2401\t3092\nOther expense\t7478\t8240\t23676\t24195\nTotal other operating expenses\t38179\t37879\t119618\t100808\n", "q10k_tbl_50": "\t\tFair Value Measurements Using\t\t\n(In thousands)\tFair Value\tQuoted Prices in Active Markets for Identical Assets (Level 1)\tSignificant Other Observable Inputs (Level 2)\tSignificant Unobservable Inputs (Level 3)\nSeptember 30 2020\t\t\t\t\nAvailable-for-sale securities\t\t\t\t\nU.S. Government agencies\t471973\t0\t471973\t0\nMortgage-backed securities\t903687\t0\t903687\t0\nState and political subdivisions\t1133006\t0\t1133006\t0\nOther securities\t98622\t0\t98622\t0\nOther assets held for sale\t389\t0\t0\t389\nDerivative asset\t42021\t0\t42021\t0\nDerivative liability\t(42356)\t0\t(42356)\t0\nDecember 31 2019\t\t\t\t\nAvailable-for-sale securities\t\t\t\t\nU.S. Treasury\t449729\t449729\t0\t0\nU.S. Government agencies\t194249\t0\t194249\t0\nMortgage-backed securities\t1742945\t0\t1742945\t0\nStates and political subdivisions\t880524\t0\t880524\t0\nOther securities\t20896\t0\t20896\t0\nOther assets held for sale\t260332\t0\t0\t260332\nDerivative asset\t14903\t0\t14903\t0\nOther liabilities held for sale\t(159853)\t0\t0\t(159853)\nDerivative liability\t(12650)\t0\t(12650)\t0\n", "q10k_tbl_51": "\t\tFair Value Measurements Using\t\t\n(In thousands)\tFair Value\tQuoted Prices in Active Markets for Identical Assets (Level 1)\tSignificant Other Observable Inputs (Level 2)\tSignificant Unobservable Inputs (Level 3)\nSeptember 30 2020\t\t\t\t\nIndividually assessed loans (1) (2) (collateral-dependent)\t67316\t0\t0\t67316\nForeclosed assets and other real estate owned (1)\t3581\t0\t0\t3581\nDecember 31 2019\t\t\t\t\nIndividually assessed loans (1) (2) (collateral-dependent)\t49190\t0\t0\t49190\nForeclosed assets and other real estate owned (1)\t18798\t0\t0\t18798\n", "q10k_tbl_52": "\tCarrying\tFair Value Measurements\t\t\t\n(In thousands)\tAmount\tLevel 1\tLevel 2\tLevel 3\tTotal\nSeptember 30 2020\t\t\t\t\t\nFinancial assets:\t\t\t\t\t\nCash and cash equivalents\t2522131\t2522131\t0\t0\t2522131\nInterest bearing balances due from banks - time\t4061\t0\t4061\t0\t4061\nHeld-to-maturity securities\t47102\t0\t49064\t0\t49064\nMortgage loans held for sale\t192729\t0\t0\t192729\t192729\nInterest receivable\t77352\t0\t77352\t0\t77352\nLoans net\t13769191\t0\t0\t13864914\t13864914\nFinancial liabilities:\t\t\t\t\t\nNon-interest bearing transaction accounts\t4451385\t0\t4451385\t0\t4451385\nInterest bearing transaction accounts and savings deposits\t8993255\t0\t8993255\t0\t8993255\nTime deposits\t2802007\t0\t0\t2820224\t2820224\nFederal funds purchased and securities sold under agreements to repurchase\t313694\t0\t313694\t0\t313694\nOther borrowings\t1342769\t0\t1459468\t0\t1459468\nSubordinated notes and debentures\t382739\t0\t400421\t0\t400421\nInterest payable\t13694\t0\t13694\t0\t13694\nDecember 31 2019\t\t\t\t\t\nFinancial assets:\t\t\t\t\t\nCash and cash equivalents\t996623\t996623\t0\t0\t996623\nInterest bearing balances due from banks - time\t4554\t0\t4554\t0\t4554\nHeld-to-maturity securities\t40927\t0\t41855\t0\t41855\nMortgage loans held for sale\t58102\t0\t0\t58102\t58102\nInterest receivable\t62707\t0\t62707\t0\t62707\nLoans net\t14357460\t0\t0\t14290188\t14290188\nFinancial liabilities:\t\t\t\t\t\nNon-interest bearing transaction accounts\t3741093\t0\t3741093\t0\t3741093\nInterest bearing transaction accounts and savings deposits\t9090878\t0\t9090878\t0\t9090878\nTime deposits\t3276969\t0\t0\t3270333\t3270333\nFederal funds purchased and securities sold under agreements to repurchase\t150145\t0\t150145\t0\t150145\nOther borrowings\t1297599\t0\t1298011\t0\t1298011\nSubordinated debentures\t388260\t0\t397088\t0\t397088\nInterest payable\t12898\t0\t12898\t0\t12898\n", "q10k_tbl_53": "\tSeptember 30 2020\t\tDecember 31 2019\t\n(In thousands)\tNotional\tFair Value\tNotional\tFair Value\nDerivative assets\t426796\t42021\t401969\t14903\nDerivative liabilities\t436001\t42356\t387075\t12650\n", "q10k_tbl_54": "PPP Loans\tNumber of\t\tBalance\t\n(Dollars in thousands)\tLoans\t% of Loans\tSeptember 30 2020\t% of Balance\nLess than $50000\t5216\t63%\t94401\t10%\n50000 to $350000\t2441\t30%\t304815\t31%\nMore than $350000 to less than $2 million\t481\t6%\t357943\t37%\n2 million to $10 million\t61\t1%\t213329\t22%\nTotal\t8199\t100%\t970488\t100%\n", "q10k_tbl_55": "\tThree Months Ended September 30\t\tNine Months Ended September 30\t\n(In thousands)\t2020\t2019\t2020\t2019\nInterest income\t179725\t196406\t580610\t569732\nFTE adjustment\t2864\t1843\t7519\t5150\nInterest income - FTE\t182589\t198249\t588129\t574882\nInterest expense\t26115\t47142\t95836\t135045\nNet interest income - FTE\t156474\t151107\t492293\t439837\nYield on earning assets - FTE\t3.74%\t5.02%\t4.10%\t5.07%\nCost of interest bearing liabilities\t0.74%\t1.55%\t0.90%\t1.54%\nNet interest spread - FTE\t3.00%\t3.47%\t3.20%\t3.53%\nNet interest margin - FTE\t3.21%\t3.82%\t3.43%\t3.88%\n", "q10k_tbl_56": "\tThree Months Ended September 30\tNine Months Ended September 30\n(In thousands)\t2020 vs. 2019\t2020 vs. 2019\nIncrease due to change in earning assets\t22956\t97238\nDecrease due to change in earning asset yields\t(38616)\t(83991)\nDecrease due to change in interest bearing liabilities\t(5016)\t(18835)\nIncrease due to change in interest rates paid on interest bearing liabilities\t26043\t58044\nIncrease in net interest income\t5367\t52456\n", "q10k_tbl_57": "\tThree Months Ended September 30\t\t\t\t\t\n\t2020\t\t\t2019\t\t\n\tAverage\tIncome/\tYield/\tAverage\tIncome/\tYield/\n(In thousands)\tBalance\tExpense\tRate (%)\tBalance\tExpense\tRate (%)\nASSETS\t\t\t\t\t\t\nEarning assets:\t\t\t\t\t\t\nInterest bearing balances due from banks and federal funds sold\t2265233\t623\t0.11\t344761\t1586\t1.83\nInvestment securities - taxable\t1534742\t7193\t1.86\t1561308\t9514\t2.42\nInvestment securities - non-taxable\t1155099\t10382\t3.58\t681505\t6687\t3.89\nMortgage loans held for sale\t145226\t1012\t2.77\t39551\t382\t3.83\nLoans\t14315014\t163379\t4.54\t13053540\t180080\t5.47\nTotal interest earning assets\t19415314\t182589\t3.74\t15680665\t198249\t5.02\nNon-earning assets\t2350007\t\t\t2039933\t\t\nTotal assets\t21765321\t\t\t17720598\t\t\nLIABILITIES AND STOCKHOLDERS' EQUITY\t\t\t\t\t\t\nLiabilities:\t\t\t\t\t\t\nInterest bearing liabilities:\t\t\t\t\t\t\nInterest bearing transaction and savings deposits\t8977886\t6769\t0.30\t7322395\t21363\t1.16\nTime deposits\t2998091\t9437\t1.25\t3122422\t15573\t1.98\nTotal interest bearing deposits\t11975977\t16206\t0.54\t10444817\t36936\t1.40\nFederal funds purchased and securities sold under agreements to repurchase\t386631\t335\t0.34\t123883\t249\t0.80\nOther borrowings\t1357278\t4943\t1.45\t1127886\t5381\t1.89\nSubordinated debt and debentures\t382672\t4631\t4.81\t354178\t4576\t5.13\nTotal interest bearing liabilities\t14102558\t26115\t0.74\t12050764\t47142\t1.55\nNon-interest bearing liabilities:\t\t\t\t\t\t\nNon-interest bearing deposits\t4529782\t\t\t3012544\t\t\nOther liabilities\t190169\t\t\t288517\t\t\nTotal liabilities\t18822509\t\t\t15351825\t\t\nStockholders' equity\t2942812\t\t\t2368773\t\t\nTotal liabilities and stockholders' equity\t21765321\t\t\t17720598\t\t\nNet interest spread\t\t\t3.00\t\t\t3.47\nNet interest margin\t\t156474\t3.21\t\t151107\t3.82\n", "q10k_tbl_58": "\tNine Months Ended September 30\t\t\t\t\t\n\t2020\t\t\t2019\t\t\n\tAverage\tIncome/\tYield/\tAverage\tIncome/\tYield/\n(In thousands)\tBalance\tExpense\tRate (%)\tBalance\tExpense\tRate (%)\nASSETS\t\t\t\t\t\t\nEarning assets:\t\t\t\t\t\t\nInterest bearing balances due from banks and federal funds sold\t1742166\t3667\t0.28\t338349\t4861\t1.92\nInvestment securities - taxable\t1832577\t27319\t1.99\t1642335\t32538\t2.65\nInvestment securities - non-taxable\t974748\t26888\t3.68\t632780\t18730\t3.96\nMortgage loans held for sale\t91889\t1961\t2.85\t29852\t924\t4.14\nLoans\t14530938\t528294\t4.86\t12531355\t517829\t5.52\nTotal interest earning assets\t19172318\t588129\t4.10\t15174671\t574882\t5.07\nNon-earning assets\t2331246\t\t\t1965748\t\t\nTotal assets\t21503564\t\t\t17140419\t\t\nLIABILITIES AND STOCKHOLDERS' EQUITY\t\t\t\t\t\t\nLiabilities:\t\t\t\t\t\t\nInterest bearing liabilities:\t\t\t\t\t\t\nInterest bearing transaction and savings deposits\t9040053\t31926\t0.47\t7072363\t59983\t1.13\nTime deposits\t3068459\t33563\t1.46\t2993336\t42499\t1.90\nTotal interest bearing deposits\t12108512\t65489\t0.72\t10065699\t102482\t1.36\nFederal funds purchased and securities sold under agreements to repurchase\t370116\t1431\t0.52\t122195\t642\t0.70\nOther borrowings\t1357543\t14783\t1.45\t1209511\t18393\t2.03\nSubordinated debt and debentures\t386129\t14133\t4.89\t354088\t13528\t5.11\nTotal interest bearing liabilities\t14222300\t95836\t0.90\t11751493\t135045\t1.54\nNon-interest bearing liabilities:\t\t\t\t\t\t\nNon-interest bearing deposits\t4164189\t\t\t2852687\t\t\nOther liabilities\t205942\t\t\t208397\t\t\nTotal liabilities\t18592431\t\t\t14812577\t\t\nStockholders' equity\t2911133\t\t\t2327842\t\t\nTotal liabilities and stockholders' equity\t21503564\t\t\t17140419\t\t\nNet interest spread\t\t\t3.20\t\t\t3.53\nNet interest margin\t\t492293\t3.43\t\t439837\t3.88\n", "q10k_tbl_59": "\tThree Months Ended September 30\t\t\tNine Months Ended September 30\t\t\n\t2020 vs. 2019\t\t\t2020 vs. 2019\t\t\n(In thousands on a fully taxable equivalent basis)\tVolume\tYield/ Rate\tTotal\tVolume\tYield/ Rate\tTotal\nIncrease (decrease) in:\t\t\t\t\t\t\nInterest income:\t\t\t\t\t\t\nInterest bearing balances due from banks and federal funds sold\t1727\t(2690)\t(963)\t5890\t(7084)\t(1194)\nInvestment securities - taxable\t(159)\t(2162)\t(2321)\t3472\t(8691)\t(5219)\nInvestment securities - non-taxable\t4299\t(604)\t3695\t9510\t(1352)\t8158\nMortgage loans held for sale\t764\t(134)\t630\t1402\t(365)\t1037\nLoans\t16325\t(33026)\t(16701)\t76964\t(66499)\t10465\nTotal\t22956\t(38616)\t(15660)\t97238\t(83991)\t13247\nInterest expense:\t\t\t\t\t\t\nInterest bearing transaction and savings accounts\t3993\t(18587)\t(14594)\t13545\t(41602)\t(28057)\nTime deposits\t(598)\t(5538)\t(6136)\t1043\t(9979)\t(8936)\nFederal funds purchased and securities sold under agreements to repurchase\t292\t(206)\t86\t999\t(210)\t789\nOther borrowings\t974\t(1412)\t(438)\t2059\t(5669)\t(3610)\nSubordinated notes and debentures\t355\t(300)\t55\t1189\t(584)\t605\nTotal\t5016\t(26043)\t(21027)\t18835\t(58044)\t(39209)\nIncrease (decrease) in net interest income\t17940\t(12573)\t5367\t78403\t(25947)\t52456\n", "q10k_tbl_60": "\tThree Months Ended September 30\t\t2020 Change from\t\tNine Months Ended September 30\t\t2020 Change from\t\n(Dollars in thousands)\t2020\t2019\t2019\t\t2020\t2019\t2019\t\nTrust income\t6744\t6108\t636\t10.4%\t21148\t17610\t3538\t20.1%\nService charges on deposit accounts\t10385\t10825\t(440)\t(4.1)\t32283\t31450\t833\t2.7\nOther service charges and fees\t1764\t1308\t456\t34.9\t4841\t3909\t932\t23.8\nMortgage lending income\t13971\t4509\t9462\t*\t31476\t10988\t20488\t186.5\nSBA lending income\t304\t956\t(652)\t(68.2)\t845\t2348\t(1503)\t(64.0)\nInvestment banking income\t557\t513\t44\t8.6\t2005\t1491\t514\t34.5\nDebit and credit card fees\t8850\t7059\t1791\t25.4\t24760\t20369\t4391\t21.6\nBank owned life insurance income\t1591\t1302\t289\t22.2\t4334\t3357\t977\t29.1\nGain on sale of securities net\t22305\t7374\t14931\t*\t54790\t12937\t41853\t*\nGain on sale of Visa Inc. class B common stock\t0\t42860\t(42860)\t*\t0\t42860\t(42860)\t(100.0)\nGain on sale of banking operations net\t0\t0\t0\t0\t8093\t0\t8093\t*\nOther income\t5380\t1861\t3519\t189.1\t19897\t12082\t7815\t64.7\nTotal non-interest income\t71851\t84675\t(12824)\t(15.1)%\t204472\t159401\t45071\t28.3%\n", "q10k_tbl_61": "\tThree Months Ended September 30\t\t2020 Change from\t\tNine Months Ended September 30\t\t2020 Change from\t\n(Dollars in thousands)\t2020\t2019\t2019\t\t2020\t2019\t2019\t\nSalaries and employee benefits\t58798\t51888\t6910\t13.3%\t183873\t161096\t22777\t14.1%\nEarly retirement program\t2346\t177\t2169\t*\t2839\t3464\t(625)\t(18.0)\nOccupancy expense net\t9647\t8342\t1305\t15.6\t28374\t22736\t5638\t24.8\nFurniture and equipment expense\t6231\t4898\t1333\t27.2\t18098\t12462\t5636\t45.2\nOther real estate and foreclosure expense\t602\t1125\t(523)\t(46.5)\t1201\t2353\t(1152)\t(49.0)\nDeposit insurance\t2244\t0\t2244\t*\t7557\t4550\t3007\t66.1\nMerger related costs\t902\t2556\t(1654)\t(64.7)\t3800\t11548\t(7748)\t(67.1)\nOther operating expenses:\t\t\t\t\t\t\t\t\nProfessional services\t3779\t4310\t(531)\t(12.3)\t13529\t12125\t1404\t11.6\nPostage\t1932\t1471\t461\t31.3\t5937\t4642\t1295\t27.9\nTelephone\t2103\t2506\t(403)\t(16.1)\t6738\t5605\t1133\t20.2\nCredit card expenses\t5190\t4200\t990\t23.6\t14154\t11822\t2332\t19.7\nMarketing\t3517\t7021\t(3504)\t(49.9)\t11430\t12514\t(1084)\t(8.7)\nSoftware and technology\t9552\t6531\t3021\t46.3\t29021\t16607\t12414\t74.8\nOperating supplies\t824\t493\t331\t67.1\t2588\t1671\t917\t54.9\nAmortization of intangibles\t3362\t2947\t415\t14.1\t10144\t8535\t1609\t18.9\nBranch right sizing expense\t442\t160\t282\t176.3\t2401\t3092\t(691)\t(22.4)\nOther expense\t7478\t8240\t(762)\t(9.3)\t23676\t24195\t(519)\t(2.2)\nTotal non-interest expense\t118949\t106865\t12084\t11.3%\t365360\t319017\t46343\t14.5%\n", "q10k_tbl_62": "\tSeptember 30\tDecember 31\n(In thousands)\t2020\t2019\nConsumer:\t\t\nCredit cards\t172880\t204802\nOther consumer\t190736\t249195\nTotal consumer\t363616\t453997\nReal estate:\t\t\nConstruction and development\t1853360\t2248673\nSingle family residential\t1997070\t2414753\nOther commercial\t6132823\t6358514\nTotal real estate\t9983253\t11021940\nCommercial:\t\t\nCommercial\t2907798\t2451119\nAgricultural\t241687\t191525\nTotal commercial\t3149485\t2642644\nOther\t521088\t307123\nTotal loans before allowance for credit losses\t14017442\t14425704\n", "q10k_tbl_63": "(Dollars in thousands)\tLoan Balance\t%\nHotels\t319991\t58.1%\nRestaurants - Real Estate\t7209\t1.3\nRestaurants - Non-Real Estate\t1897\t0.4\nRetail\t15836\t2.9\nNursing/Extended Care\t42674\t7.7\nMultifamily\t62320\t11.3\nAll Other\t100905\t18.3\nTotal\t550832\t100.0%\n", "q10k_tbl_64": "(Dollars in thousands)\tLoan Balance\tNumber of Loans\nInternal Status Category 4\t335798\t105\nInternal Status Category 5\t195312\t71\nInternal Status Category 6\t17242\t44\nInternal Status Category 7\t2480\t8\nTotal\t550832\t228\n", "q10k_tbl_65": "\tSeptember 30\tDecember 31\n(Dollars in thousands)\t2020\t2019\nNonaccrual loans (1)\t167713\t93330\nLoans past due 90 days or more (principal or interest payments)\t174\t856\nTotal non-performing loans\t167887\t94186\nOther non-performing assets:\t\t\nForeclosed assets held for sale and other real estate owned\t12590\t19121\nOther non-performing assets\t1983\t1964\nTotal other non-performing assets\t14573\t21085\nTotal non-performing assets\t182460\t115271\nPerforming TDRs\t3379\t5887\nAllowance for credit losses to non-performing loans\t148%\t72%\nNon-performing loans to total loans\t1.20%\t0.65%\nNon-performing assets (including performing TDRs) to total assets\t0.87%\t0.57%\nNon-performing assets to total assets\t0.85%\t0.54%\n", "q10k_tbl_66": "(In thousands)\t2020\t2019\nBalance beginning of year\t68244\t56694\nImpact of CECL adoption\t151377\t0\nLoans charged off:\t\t\nCredit card\t3326\t3298\nOther consumer\t3062\t3582\nReal estate\t3373\t3000\nCommercial\t40537\t22893\nTotal loans charged off\t50298\t32773\nRecoveries of loans previously charged off:\t\t\nCredit card\t773\t734\nOther consumer\t1110\t2053\nReal estate\t474\t355\nCommercial\t1381\t1190\nTotal recoveries\t3738\t4332\nNet loans charged off\t46560\t28441\nProvision for credit losses\t75190\t38337\nBalance September 30\t248251\t66590\nLoans charged off:\t\t\nCredit card\t\t1287\nOther consumer\t\t1425\nReal estate\t\t892\nCommercial\t\t459\nTotal loans charged off\t\t4063\nRecoveries of loans previously charged off:\t\t\nCredit card\t\t287\nOther consumer\t\t304\nReal estate\t\t146\nCommercial\t\t77\nTotal recoveries\t\t814\nNet loans charged off\t\t3249\nProvision for credit losses\t\t4903\nBalance end of year\t\t68244\n", "q10k_tbl_67": "\tSeptember 30 2020\t\tDecember 31 2019\t\n(Dollars in thousands)\tAllowance Amount\t% of loans (1)\tAllowance Amount\t% of loans (1)\nCredit cards\t8600\t1.2%\t4051\t1.4%\nOther consumer\t7175\t1.4%\t1998\t1.7%\nReal estate\t181917\t71.2%\t39161\t76.5%\nCommercial\t49248\t22.5%\t22863\t18.3%\nOther\t1311\t3.7%\t171\t2.1%\nTotal\t248251\t100.0%\t68244\t100.0%\n", "q10k_tbl_68": "\tSeptember 30\tDecember 31\n(Dollars in thousands)\t2020\t2019\nTier 1 capital:\t\t\nStockholders' equity\t2942241\t2988924\nCECL transition provision\t134798\t0\nGoodwill and other intangible assets\t(1167357)\t(1160079)\nUnrealized gain on available-for-sale securities net of income taxes\t(41509)\t(20891)\nTotal Tier 1 capital\t1868173\t1807954\nTier 2 capital:\t\t\nTrust preferred securities and subordinated debt\t382739\t388260\nQualifying allowance for credit losses and reserve for unfunded commitments\t96734\t76644\nTotal Tier 2 capital\t479473\t464904\nTotal risk-based capital\t2347646\t2272858\nRisk weighted assets\t14878932\t16554081\nAssets for leverage ratio\t20652454\t18852798\nRatios at end of period:\t\t\nCommon equity Tier 1 ratio (CET1)\t12.55%\t10.92%\nTier 1 leverage ratio\t9.05%\t9.59%\nTier 1 leverage ratio excluding average PPP loans (non-GAAP)(1)\t9.49%\tN/A\nTier 1 risk-based capital ratio\t12.56%\t10.92%\nTotal risk-based capital ratio\t15.78%\t13.73%\nMinimum guidelines:\t\t\nCommon equity Tier 1 ratio (CET1)\t4.50%\t4.50%\nTier 1 leverage ratio\t4.00%\t4.00%\nTier 1 risk-based capital ratio\t6.00%\t6.00%\nTotal risk-based capital ratio\t8.00%\t8.00%\n", "q10k_tbl_69": "\tThree Months Ended September 30\t\tNine Months Ended September 30\t\n(In thousands except per share data)\t2020\t2019\t2020\t2019\nNet income available to common stockholders\t65885\t81826\t201897\t185119\nNon-core items:\t\t\t\t\nGain on sale of branches\t0\t0\t(8093)\t0\nMerger related costs\t902\t2556\t3800\t11548\nEarly retirement program\t2346\t177\t2839\t3464\nBranch right sizing\t72\t160\t2031\t3092\nTax effect (1)\t(867)\t(756)\t(151)\t(4731)\nNet non-core items\t2453\t2137\t426\t13373\nCore earnings (non-GAAP)\t68338\t83963\t202323\t198492\nDiluted earnings per share(2)\t0.60\t0.84\t1.83\t1.94\nNon-core items:\t\t\t\t\nGain on sale of branches\t0\t0\t(0.07)\t0\nMerger related costs\t0.01\t0.04\t0.03\t0.12\nEarly retirement program\t0.02\t0\t0.02\t0.04\nBranch right sizing\t0\t0\t0.02\t0.03\nTax effect (1)\t0\t(0.01)\t0\t(0.05)\nNet non-core items\t0.03\t0.03\t0\t0.14\nCore diluted earnings per share (non-GAAP)\t0.63\t0.87\t1.83\t2.08\n", "q10k_tbl_70": "\tThree Months Ended September 30\t\tNine Months Ended September 30\t\n(In thousands)\t2020\t2019\t2020\t2019\nOther income\t5380\t44721\t27990\t54942\nGain on sale of banking operations\t0\t0\t(8093)\t0\nBranch right sizing\t(370)\t0\t(370)\t0\nCore other income (non-GAAP)\t5010\t44721\t19527\t54942\nNon-interest expense\t118949\t106865\t365360\t319017\nNon-core items:\t\t\t\t\nMerger related costs\t(902)\t(2556)\t(3800)\t(11548)\nEarly retirement program\t(2346)\t(177)\t(2839)\t(3464)\nBranch right sizing\t(442)\t(160)\t(2401)\t(3092)\nTotal non-core items\t(3690)\t(2893)\t(9040)\t(18104)\nCore non-interest expense (non-GAAP)\t115259\t103972\t356320\t300913\n", "q10k_tbl_71": "\tSeptember 30\tDecember 31\n(In thousands except per share data)\t2020\t2019\nTotal stockholders' equity\t2942241\t2988924\nPreferred stock\t(767)\t(767)\nTotal common stockholders' equity\t2941474\t2988157\nIntangible assets:\t\t\nGoodwill\t(1075305)\t(1055520)\nOther intangible assets\t(114460)\t(127340)\nTotal intangibles\t(1189765)\t(1182860)\nTangible common stockholders' equity\t1751709\t1805297\nShares of common stock outstanding\t109023781\t113628601\nBook value per common share\t26.98\t26.30\nTangible book value per common share (non-GAAP)\t16.07\t15.89\n", "q10k_tbl_72": "\tSeptember 30\tDecember 31\n(Dollars in thousands)\t2020\t2019\nTotal common stockholders' equity\t2941474\t2988157\nIntangible assets:\t\t\nGoodwill\t(1075305)\t(1055520)\nOther intangible assets\t(114460)\t(127340)\nTotal intangibles\t(1189765)\t(1182860)\nTangible common stockholders' equity\t1751709\t1805297\nTotal assets\t21437395\t21259143\nIntangible assets:\t\t\nGoodwill\t(1075305)\t(1055520)\nOther intangible assets\t(114460)\t(127340)\nTotal intangibles\t(1189765)\t(1182860)\nTangible assets\t20247630\t20076283\nPaycheck Protection Program (\"PPP\") loans\t(970488)\t\nTotal assets excluding PPP loans\t20466907\t\nTangible assets excluding PPP loans\t19277142\t\nRatio of common equity to assets\t13.72%\t14.06%\nRatio of tangible common equity to tangible assets (non-GAAP)\t8.65%\t8.99%\nRatio of common equity to assets excluding PPP loans (non-GAAP)\t14.37%\t\nRatio of tangible common equity to tangible assets excluding PPP loans (non-GAAP)\t9.09%\t\n", "q10k_tbl_73": "(Dollars in thousands)\tThree Months Ended September 30 2020\nTotal Tier 1 capital\t1868173\nAdjusted average assets for leverage ratio\t20652454\nAverage PPP loans\t(967152)\nAdjusted average assets excluding average PPP loans\t19685302\nTier 1 leverage ratio\t9.05%\nTier 1 leverage ratio excluding average PPP loans (non-GAAP)\t9.49%\n", "q10k_tbl_74": "\tThree Months Ended September 30\t\tNine Months Ended September 30\t\n(Dollars in thousands)\t2020\t2019\t2020\t2019\nNet interest income\t153610\t149264\t484774\t434687\nFTE adjustment\t2864\t1843\t7519\t5150\nFully tax equivalent net interest income\t156474\t151107\t492293\t439837\nTotal accretable yield\t(8948)\t(9322)\t(32508)\t(26144)\nCore net interest income\t147526\t141785\t459785\t413693\nPPP loan and excess liquidity interest income\t(6131)\t\t\t\nNet interest income adjusted for PPP loans and excess liquidity\t150343\t\t\t\nAverage earning assets - quarter-to-date\t19415314\t15680665\t19172318\t15174671\nAverage PPP loan balance and excess liquidity\t(2359928)\t\t\t\nAverage earning assets adjusted for PPP loans and excess liquidity\t17055386\t\t\t\nNet interest margin\t3.21%\t3.82%\t3.43%\t3.88%\nCore net interest margin (non-GAAP)\t3.02%\t3.59%\t3.20%\t3.64%\nNet interest margin adjusted for PPP loans and excess liquidity (non-GAAP)\t3.51%\t\t\t\n", "q10k_tbl_75": "(Dollars in thousands)\tThree Months Ended September 30 2020\nLoan interest income\t163379\nPPP loan interest income\t(5782)\nLoan interest income excluding PPP loans\t157597\nAverage loan balance\t14315014\nAverage PPP loan balance\t(967152)\nAverage loan balance excluding PPP loans\t13347862\nLoan yield\t4.54%\nLoan yield excluding PPP loans (non-GAAP)\t4.70%\n", "q10k_tbl_76": "Period\tTotal Number of Shares Purchased (1)\tAverage Price Paid per Share\tTotal Number of Shares Purchased as Part of Publicly Announced Plans or Programs\tApproximate Dollar Value of Shares that May Yet Be Purchased Under the Plans or Programs\nJuly 1 2020 - July 31 2020\t1224\t17.28\t0\t76560000\nAugust 1 2020 - August 31 2020\t0\t0\t0\t76560000\nSeptember 1 2020 - September 30 2020\t689\t16.80\t0\t76560000\nTotal\t1913\t17.10\t0\t\n", "q10k_tbl_77": "Exhibit No.\tDescription\n2.1\tAgreement and Plan of Merger dated as of November 13 2018 by and between Simmons First National Corporation and Reliance Bancshares Inc. as amended on February 11 2019 (incorporated by reference to Annex A to the Proxy Statement/Prospectus filed pursuant to Rule 424(b)(3) by Simmons First National Corporation for March 4 2019 (File No. 333-229378)).\n2.2\tAgreement and Plan of Merger dated as of July 30 2019 by and between Simmons First National Corporation and The Landrum Company (incorporated by reference to Exhibit 2.1 to Simmons First National Corporation's Current Report on Form 8-K for July 30 2019 (File No. 000-06253)).\n3.1\tAmended and Restated Articles of Incorporation of Simmons First National Corporation as amended on October 29 2019 (incorporated by reference to Exhibit 3.1 to Simmons First National Corporation's Current Report on Form 8-K filed November 1 2019 (File No. 000-06253)).\n3.2\tAs Amended By-Laws of Simmons First National Corporation as amended on October 21 2020.*\n4.1\tInstruments defining the rights of security holders including indentures. Simmons First National Corporation hereby agrees to furnish copies of instruments defining the rights of holders of long-term debt of the Corporation and its consolidated subsidiaries to the U.S. Securities and Exchange Commission upon request. No issuance of debt exceeds ten percent of the total assets of the Corporation and its subsidiaries on a consolidated basis.\n10.1\tExecutive Severance Agreement for George Makris III dated July 28 2020.*\n10.2\tExecutive Severance Agreement for John Barber dated July 24 2020.*\n14.1\tAmended and Restated Simmons First National Corporation Code of Ethics (as amended and restated on July 23 2020) (incorporated by reference to Exhibit 14.1 to Simmons First National Corporation's Current Report on Form 8-K filed July 28 2020 (File No. 000-06253)).\n15.1\tAwareness Letter of BKD LLP.*\n31.1\tRule 13a-15(e) and 15d-15(e) Certification - George A. Makris Jr. Chairman and Chief Executive Officer.*\n", "q10k_tbl_78": "Exhibit No.\tDescription\n31.2\tRule 13a-15(e) and 15d-15(e) Certification - Robert A. Fehlman Senior Executive Vice President Chief Financial Officer Chief Operating Officer and Treasurer.*\n31.3\tRule 13a-15(e) and 15d-15(e) Certification - David W. Garner Executive Vice President Executive Director of Finance and Accounting and Chief Accounting Officer.*\n32.1\tCertification Pursuant to 18 U.S.C. Sections 1350 as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 - George A. Makris Jr. Chairman and Chief Executive Officer.*\n32.2\tCertification Pursuant to 18 U.S.C. Sections 1350 as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 - Robert A. Fehlman Senior Executive Vice President Chief Financial Officer Chief Operating Officer and Treasurer.*\n32.3\tCertification Pursuant to 18 U.S.C. Sections 1350 as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 - David W. Garner Executive Vice President Executive Director of Finance and Accounting and Chief Accounting Officer.*\n101.INS\tXBRL Instance Document - the instance document does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document. **\n101.SCH\tInline XBRL Taxonomy Extension Schema.**\n101.CAL\tInline XBRL Taxonomy Extension Calculation Linkbase.**\n101.DEF\tInlineXBRL Taxonomy Extension Definition Linkbase.**\n101.LAB\tInline XBRL Taxonomy Extension Labels Linkbase.**\n101.PRE\tInline XBRL Taxonomy Extension Presentation Linkbase.**\n104\tCover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101).**\n"}{"bs": "q10k_tbl_2", "is": "q10k_tbl_3", "cf": "q10k_tbl_5"}None
QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the quarterly period ended September 30, 2020
OR
☐
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the transition period from _____ to _____
Commission File Number 000-06253
SIMMONS FIRST NATIONAL CORPORATION
(Exact name of registrant as specified in its charter)
Arkansas
71-0407808
(State or other jurisdiction of
(I.R.S. Employer
incorporation or organization)
Identification No.)
501 Main Street
71601
Pine Bluff
(Zip Code)
Arkansas
(Address of principal executive offices)
(870) 541-1000
(Registrant’s telephone number, including area code)
Not Applicable
(Former name, former address and former fiscal year, if changed since last report)
Securities registered pursuant to Section 12(b) of the Act:
Title of each class
Trading Symbol(s)
Name of each exchange on which registered
Common stock, par value $0.01 per share
SFNC
The Nasdaq Global Select Market
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. ☒Yes☐ No
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). ☒Yes☐ No
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.
Large accelerated filer
☒
Accelerated filer
☐
Non-accelerated filer
☐
Smaller reporting company
☐
Emerging Growth company
☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act.). ☐ Yes ☒ No
The number of shares outstanding of the Registrant’s Common Stock as of November 2, 2020, was 108,845,891.
Cash and non-interest bearing balances due from banks
$
382,691
$
277,208
Interest bearing balances due from banks and federal funds sold
2,139,440
719,415
Cash and cash equivalents
2,522,131
996,623
Interest bearing balances due from banks - time
4,061
4,554
Investment securities:
Held-to-maturity, net of allowance for credit losses of $373 at September 30, 2020
47,102
40,927
Available-for-sale, net of allowance for credit losses of $1,208 at September 30, 2020 (amortized cost of $2,556,808 and $3,263,151 at September 30, 2020 and December 31, 2019, respectively)
2,607,288
3,288,343
Total investments
2,654,390
3,329,270
Mortgage loans held for sale
192,729
58,102
Other assets held for sale
389
260,332
Loans
14,017,442
14,425,704
Allowance for credit losses on loans
(248,251)
(68,244)
Net loans
13,769,191
14,357,460
Premises and equipment
470,491
492,384
Premises held for sale
4,486
—
Foreclosed assets and other real estate owned
12,590
19,121
Interest receivable
77,352
62,707
Bank owned life insurance
257,718
254,152
Goodwill
1,075,305
1,055,520
Other intangible assets
114,460
127,340
Other assets
282,102
241,578
Total assets
$
21,437,395
$
21,259,143
LIABILITIES AND STOCKHOLDERS’ EQUITY
Deposits:
Non-interest bearing transaction accounts
$
4,451,385
$
3,741,093
Interest bearing transaction accounts and savings deposits
8,993,255
9,090,878
Time deposits
2,802,007
3,276,969
Total deposits
16,246,647
16,108,940
Federal funds purchased and securities sold under agreements to repurchase
313,694
150,145
Other borrowings
1,342,769
1,297,599
Subordinated debentures
382,739
388,260
Other liabilities held for sale
—
159,853
Accrued interest and other liabilities
209,305
165,422
Total liabilities
18,495,154
18,270,219
Stockholders’ equity:
Preferred stock, 40,040,000 shares authorized; Series D, $0.01 par value, $1,000 liquidation value per share; 767 shares issued and outstanding at September 30, 2020 and December 31, 2019
767
767
Common stock, Class A, $0.01 par value; 175,000,000 shares authorized at September 30, 2020 and December 31, 2019; 109,023,781 and 113,628,601 shares issued and outstanding at September 30, 2020 and December 31, 2019, respectively
1,090
1,136
Surplus
2,032,372
2,117,282
Undivided profits
866,503
848,848
Accumulated other comprehensive income
41,509
20,891
Total stockholders’ equity
2,942,241
2,988,924
Total liabilities and stockholders’ equity
$
21,437,395
$
21,259,143
See Condensed Notes to Consolidated Financial Statements.
3
Simmons First National Corporation
Consolidated Statements of Income
Three and Nine Months Ended September 30, 2020 and 2019
Three Months Ended September 30,
Nine Months Ended September 30,
(In thousands, except per share data)
2020
2019
2020
2019
(Unaudited)
(Unaudited)
INTEREST INCOME
Loans
$
163,180
$
179,971
$
527,656
$
517,533
Interest bearing balances due from banks and federal funds sold
623
1,586
3,667
4,861
Investment securities
14,910
14,467
47,326
46,414
Mortgage loans held for sale
1,012
382
1,961
924
TOTAL INTEREST INCOME
179,725
196,406
580,610
569,732
INTEREST EXPENSE
Deposits
16,206
36,936
65,489
102,482
Federal funds purchased and securities sold under agreements to repurchase
335
249
1,431
642
Other borrowings
4,943
5,381
14,783
18,393
Subordinated notes and debentures
4,631
4,576
14,133
13,528
TOTAL INTEREST EXPENSE
26,115
47,142
95,836
135,045
NET INTEREST INCOME
153,610
149,264
484,774
434,687
Provision for credit losses
22,981
21,973
68,030
38,337
NET INTEREST INCOME AFTER PROVISION FOR CREDIT LOSSES
130,629
127,291
416,744
396,350
NON-INTEREST INCOME
Trust income
6,744
6,108
21,148
17,610
Service charges on deposit accounts
10,385
10,825
32,283
31,450
Other service charges and fees
1,764
1,308
4,841
3,909
Mortgage lending income
13,971
4,509
31,476
10,988
SBA lending income
304
956
845
2,348
Investment banking income
557
513
2,005
1,491
Debit and credit card fees
8,850
7,059
24,760
20,369
Bank owned life insurance income
1,591
1,302
4,334
3,357
Gain on sale of securities, net
22,305
7,374
54,790
12,937
Other income
5,380
44,721
27,990
54,942
TOTAL NON-INTEREST INCOME
71,851
84,675
204,472
159,401
NON-INTEREST EXPENSE
Salaries and employee benefits
61,144
52,065
186,712
164,560
Occupancy expense, net
9,647
8,342
28,374
22,736
Furniture and equipment expense
6,231
4,898
18,098
12,462
Other real estate and foreclosure expense
602
1,125
1,201
2,353
Deposit insurance
2,244
—
7,557
4,550
Merger related costs
902
2,556
3,800
11,548
Other operating expenses
38,179
37,879
119,618
100,808
TOTAL NON-INTEREST EXPENSE
118,949
106,865
365,360
319,017
INCOME BEFORE INCOME TAXES
83,531
105,101
255,856
236,734
Provision for income taxes
17,633
23,275
53,920
51,289
NET INCOME
65,898
81,826
201,936
185,445
Preferred stock dividends
13
—
39
326
NET INCOME AVAILABLE TO COMMON STOCKHOLDERS
$
65,885
$
81,826
$
201,897
$
185,119
BASIC EARNINGS PER SHARE
$
0.60
$
0.85
$
1.83
$
1.95
DILUTED EARNINGS PER SHARE
$
0.60
$
0.84
$
1.83
$
1.94
See Condensed Notes to Consolidated Financial Statements.
4
Simmons First National Corporation
Consolidated Statements of Comprehensive Income
Three and Nine Months Ended September 30, 2020 and 2019
Three Months Ended September 30,
Nine Months Ended September 30,
(In thousands)
2020
2019
2020
2019
(Unaudited)
(Unaudited)
NET INCOME
$
65,898
$
81,826
$
201,936
$
185,445
OTHER COMPREHENSIVE (LOSS) INCOME
Unrealized holding gains arising during the period on available-for-sale securities
4,975
18,736
82,703
79,547
Unrealized holding gain on the transfer of held-to-maturity securities to available-for-sale per ASU 2017-12
—
—
—
2,547
Less: Reclassification adjustment for realized gains included in net income
22,305
7,374
54,790
12,937
Other comprehensive (loss) income, before tax effect