![](/cdn/assets/images/search/clock.png)
We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type |
---|---|---|---|
Tompkins Financial Corporation | AMEX:TMP | AMEX | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
2.72 | 5.00% | 57.10 | 57.21 | 54.69 | 54.69 | 40,069 | 20:36:35 |
|
|
|
|
|
☒
|
QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
|
☐
|
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
|
New York
|
|
16-1482357
|
(State or other jurisdiction of incorporation or organization)
|
|
(I.R.S. Employer Identification No.)
|
|
|
|
The Commons, P.O. Box 460, Ithaca, NY
|
|
14851
|
(Address of principal executive offices)
|
|
(Zip Code)
|
|
Large Accelerated Filer ☒
|
Accelerated Filer ☐
|
|
Non-Accelerated Filer ☐ (Do not check if a smaller reporting company)
|
Smaller Reporting Company ☐
|
|
|
Emerging Growth Company ☐
|
Class
|
|
Outstanding as of April 28, 2017
|
Common Stock, $0.10 par value
|
|
15,183,697
shares
|
|
|
|
|
|
|
|||
|
|
|
PAGE
|
|
|||
|
|
|
|
|
|
||
|
|
|
|
|
|
||
|
|
|
|
|
|
||
|
|
|
|
|
|
||
|
|
|
|
|
|
||
|
|
|
|
|
|||
|
|
|
|
|
|||
|
|
|
|
|
|||
|
|
|
|
|
|||
|
|
|
|
|
|||
|
|
|
|
|
|||
|
|
|
|
|
|||
|
|
|
|
|
|||
|
|
|
|
|
|||
|
|
|
|
|
|||
|
|
|
|
|
|||
|
|
|
|
|
|
|
|
(In thousands, except share and per share data)
|
As of
|
|
As of
|
||||
ASSETS
|
3/31/2017
|
|
12/31/2016
|
||||
|
(unaudited)
|
|
(audited)
|
||||
Cash and noninterest bearing balances due from banks
|
$
|
76,513
|
|
|
$
|
62,074
|
|
Interest bearing balances due from banks
|
1,959
|
|
|
1,880
|
|
||
Cash and Cash Equivalents
|
78,472
|
|
|
63,954
|
|
||
|
|
|
|
||||
Available-for-sale securities, at fair value (amortized cost of $1,438,716 at March 31, 2017 and $1,442,724 at December 31, 2016)
|
1,427,523
|
|
|
1,429,538
|
|
||
Held-to-maturity securities, at amortized cost (fair value of $142,445 at March 31, 2017 and $142,832 at December 31, 2016)
|
141,545
|
|
|
142,119
|
|
||
Originated loans and leases, net of unearned income and deferred costs and fees
|
3,922,413
|
|
|
3,863,922
|
|
||
Acquired loans and leases
|
375,380
|
|
|
394,111
|
|
||
Less: Allowance for loan and lease losses
|
36,166
|
|
|
35,755
|
|
||
Net Loans and Leases
|
4,261,627
|
|
|
4,222,278
|
|
||
|
|
|
|
||||
Federal Home Loan Bank and other stock
|
35,013
|
|
|
43,133
|
|
||
Bank premises and equipment, net
|
75,720
|
|
|
70,016
|
|
||
Corporate owned life insurance
|
78,535
|
|
|
77,905
|
|
||
Goodwill
|
92,291
|
|
|
92,623
|
|
||
Other intangible assets, net
|
10,767
|
|
|
11,349
|
|
||
Accrued interest and other assets
|
78,554
|
|
|
83,841
|
|
||
Total Assets
|
$
|
6,280,047
|
|
|
$
|
6,236,756
|
|
LIABILITIES
|
|
|
|
|
|
||
Deposits:
|
|
|
|
|
|
||
Interest bearing:
|
|
|
|
|
|
||
Checking, savings and money market
|
2,755,752
|
|
|
2,518,318
|
|
||
Time
|
875,596
|
|
|
870,788
|
|
||
Noninterest bearing
|
1,219,237
|
|
|
1,236,033
|
|
||
Total Deposits
|
4,850,585
|
|
|
4,625,139
|
|
||
|
|
|
|
||||
Federal funds purchased and securities sold under agreements to repurchase
|
70,716
|
|
|
69,062
|
|
||
Other borrowings
|
717,285
|
|
|
884,815
|
|
||
Trust preferred debentures
|
16,562
|
|
|
37,681
|
|
||
Other liabilities
|
61,381
|
|
|
70,654
|
|
||
Total Liabilities
|
$
|
5,716,529
|
|
|
$
|
5,687,351
|
|
EQUITY
|
|
|
|
|
|
||
Tompkins Financial Corporation shareholders’ equity:
|
|
|
|
|
|
||
Common Stock - par value $.10 per share: Authorized 25,000,000 shares; Issued: 15,216,916 at March 31, 2017; and 15,171,816 at December 31, 2016
|
1,522
|
|
|
1,517
|
|
||
Additional paid-in capital
|
361,199
|
|
|
357,414
|
|
||
Retained earnings
|
239,084
|
|
|
230,182
|
|
||
Accumulated other comprehensive loss
|
(35,684
|
)
|
|
(37,109
|
)
|
||
Treasury stock, at cost – 115,445 shares at March 31, 2017, and 117,997 shares at December 31, 2016
|
(4,057
|
)
|
|
(4,051
|
)
|
||
Total Tompkins Financial Corporation Shareholders’ Equity
|
562,064
|
|
|
547,953
|
|
||
|
|
|
|
||||
Noncontrolling interests
|
1,454
|
|
|
1,452
|
|
||
Total Equity
|
$
|
563,518
|
|
|
$
|
549,405
|
|
Total Liabilities and Equity
|
$
|
6,280,047
|
|
|
$
|
6,236,756
|
|
|
Three Months Ended
|
||||||
(In thousands, except per share data) (Unaudited)
|
3/31/2017
|
|
3/31/2016
|
||||
INTEREST AND DIVIDEND INCOME
|
|
|
|
|
|
||
Loans
|
$
|
44,951
|
|
|
$
|
40,487
|
|
Due from banks
|
2
|
|
|
2
|
|
||
Trading securities
|
0
|
|
|
81
|
|
||
Available-for-sale securities
|
7,322
|
|
|
7,531
|
|
||
Held-to-maturity securities
|
878
|
|
|
911
|
|
||
Federal Home Loan Bank and other stock
|
468
|
|
|
297
|
|
||
Total Interest and Dividend Income
|
53,621
|
|
|
49,309
|
|
||
INTEREST EXPENSE
|
|
|
|
|
|
||
Time certificates of deposits of $250,000 or more
|
441
|
|
|
390
|
|
||
Other deposits
|
2,347
|
|
|
2,209
|
|
||
Federal funds purchased and securities sold under agreements to repurchase
|
108
|
|
|
666
|
|
||
Trust preferred debentures
|
367
|
|
|
589
|
|
||
Other borrowings
|
2,324
|
|
|
1,417
|
|
||
Total Interest Expense
|
5,587
|
|
|
5,271
|
|
||
Net Interest Income
|
48,034
|
|
|
44,038
|
|
||
Less: Provision for loan and lease losses
|
769
|
|
|
855
|
|
||
Net Interest Income After Provision for Loan and Lease Losses
|
47,265
|
|
|
43,183
|
|
||
NONINTEREST INCOME
|
|
|
|
|
|
||
Insurance commissions and fees
|
7,118
|
|
|
7,562
|
|
||
Investment services income
|
3,791
|
|
|
3,786
|
|
||
Service charges on deposit accounts
|
2,167
|
|
|
2,264
|
|
||
Card services income
|
2,009
|
|
|
1,941
|
|
||
Mark-to-market loss on trading securities
|
0
|
|
|
(46
|
)
|
||
Mark-to-market gain on liabilities held at fair value
|
0
|
|
|
57
|
|
||
Other income
|
2,155
|
|
|
1,707
|
|
||
Gain on sale of available-for-sale securities
|
0
|
|
|
232
|
|
||
Total Noninterest Income
|
17,240
|
|
|
17,503
|
|
||
NONINTEREST EXPENSES
|
|
|
|
|
|
||
Salaries and wages
|
19,513
|
|
|
18,989
|
|
||
Pension and other employee benefits
|
5,759
|
|
|
5,283
|
|
||
Net occupancy expense of premises
|
3,511
|
|
|
3,148
|
|
||
Furniture and fixture expense
|
1,597
|
|
|
1,689
|
|
||
FDIC insurance
|
538
|
|
|
822
|
|
||
Amortization of intangible assets
|
493
|
|
|
527
|
|
||
Other operating expense
|
9,957
|
|
|
9,048
|
|
||
Total Noninterest Expenses
|
41,368
|
|
|
39,506
|
|
||
Income Before Income Tax Expense
|
23,137
|
|
|
21,180
|
|
||
Income Tax Expense
|
7,388
|
|
|
6,896
|
|
||
Net Income attributable to Noncontrolling Interests and Tompkins Financial Corporation
|
15,749
|
|
|
14,284
|
|
||
Less: Net income attributable to noncontrolling interests
|
32
|
|
|
33
|
|
||
Net Income Attributable to Tompkins Financial Corporation
|
$
|
15,717
|
|
|
$
|
14,251
|
|
Basic Earnings Per Share
|
$
|
1.04
|
|
|
$
|
0.95
|
|
Diluted Earnings Per Share
|
$
|
1.03
|
|
|
$
|
0.94
|
|
|
Three Months Ended
|
||||||
(In thousands) (Unaudited)
|
3/31/2017
|
|
3/31/2016
|
||||
Net income attributable to noncontrolling interests and Tompkins Financial Corporation
|
$
|
15,749
|
|
|
$
|
14,284
|
|
Other comprehensive income, net of tax:
|
|
|
|
|
|
||
|
|
|
|
||||
Available-for-sale securities:
|
|
|
|
|
|
||
Change in net unrealized gain/loss during the period
|
1,197
|
|
|
12,575
|
|
||
Reclassification adjustment for net realized gain on sale of available-for-sale securities included in net income
|
0
|
|
|
(139
|
)
|
||
|
|
|
|
||||
Employee benefit plans:
|
|
|
|
|
|
||
Amortization of net retirement plan actuarial gain
|
214
|
|
|
206
|
|
||
Amortization of net retirement plan prior service cost
|
14
|
|
|
18
|
|
||
|
|
|
|
||||
Other comprehensive income
|
1,425
|
|
|
12,660
|
|
||
|
|
|
|
||||
Subtotal comprehensive income attributable to noncontrolling interests and Tompkins Financial Corporation
|
17,174
|
|
|
26,944
|
|
||
Less: Net income attributable to noncontrolling interests
|
(32
|
)
|
|
(33
|
)
|
||
Total comprehensive income attributable to Tompkins Financial Corporation
|
$
|
17,142
|
|
|
$
|
26,911
|
|
|
|
|
|
|
Three Months Ended
|
||||||
(In thousands) (Unaudited)
|
3/31/2017
|
|
3/31/2016
|
||||
OPERATING ACTIVITIES
|
|
|
|
|
|
||
Net income attributable to Tompkins Financial Corporation
|
$
|
15,717
|
|
|
$
|
14,251
|
|
Adjustments to reconcile net income to net cash provided by operating activities:
|
|
|
|
|
|
||
Provision for loan and lease losses
|
769
|
|
|
855
|
|
||
Depreciation and amortization of premises, equipment, and software
|
1,787
|
|
|
1,685
|
|
||
Amortization of intangible assets
|
493
|
|
|
527
|
|
||
Earnings from corporate owned life insurance
|
(630
|
)
|
|
(616
|
)
|
||
Net amortization on securities
|
2,782
|
|
|
2,581
|
|
||
Amortization/accretion related to purchase accounting
|
(747
|
)
|
|
(773
|
)
|
||
Mark-to-market loss on trading securities
|
0
|
|
|
46
|
|
||
Mark-to-market gain on liabilities held at fair value
|
0
|
|
|
(57
|
)
|
||
Net gain on securities transactions
|
0
|
|
|
(232
|
)
|
||
Net gain on sale of loans originated for sale
|
(13
|
)
|
|
(23
|
)
|
||
Proceeds from sale of loans originated for sale
|
53
|
|
|
823
|
|
||
Loans originated for sale
|
(40
|
)
|
|
(301
|
)
|
||
Net (gain) loss on sale of bank premises and equipment
|
(6
|
)
|
|
12
|
|
||
Net excess tax benefit from stock based compensation
|
299
|
|
|
70
|
|
||
Stock-based compensation expense
|
706
|
|
|
496
|
|
||
Decrease in accrued interest receivable
|
(1,425
|
)
|
|
(1,051
|
)
|
||
Decrease in accrued interest payable
|
(146
|
)
|
|
(94
|
)
|
||
Proceeds from maturities and payments of trading securities
|
0
|
|
|
296
|
|
||
Other, net
|
(4,690
|
)
|
|
(902
|
)
|
||
Net Cash Provided by Operating Activities
|
14,909
|
|
|
17,593
|
|
||
INVESTING ACTIVITIES
|
|
|
|
|
|
||
Proceeds from maturities, calls and principal paydowns of available-for-sale securities
|
38,492
|
|
|
63,401
|
|
||
Proceeds from sales of available-for-sale securities
|
0
|
|
|
35,060
|
|
||
Proceeds from maturities, calls and principal paydowns of held-to-maturity securities
|
1,227
|
|
|
1,726
|
|
||
Purchases of available-for-sale securities
|
(37,169
|
)
|
|
(126,013
|
)
|
||
Purchases of held-to-maturity securities
|
(750
|
)
|
|
(760
|
)
|
||
Net increase in loans
|
(39,601
|
)
|
|
(49,340
|
)
|
||
Net increase in Federal Home Loan Bank stock
|
8,120
|
|
|
4,242
|
|
||
Proceeds from sale of bank premises and equipment
|
19
|
|
|
22
|
|
||
Purchases of bank premises and equipment
|
(7,397
|
)
|
|
(1,482
|
)
|
||
Net cash used in acquisition
|
0
|
|
|
(218
|
)
|
||
Other, net
|
1,711
|
|
|
(789
|
)
|
||
Net Cash Used in Investing Activities
|
(35,348
|
)
|
|
(74,151
|
)
|
||
FINANCING ACTIVITIES
|
|
|
|
|
|
||
Net increase in demand, money market, and savings deposits
|
220,639
|
|
|
127,913
|
|
||
Net increase in time deposits
|
5,092
|
|
|
32,337
|
|
||
Net increase (decrease) in Federal funds purchased and securities sold under agreements to repurchase
|
1,654
|
|
|
(19,828
|
)
|
||
Increase in other borrowings
|
45,000
|
|
|
115,524
|
|
||
Repayment of other borrowings
|
(212,530
|
)
|
|
(196,410
|
)
|
||
Redemption of trust preferred debentures
|
(21,161
|
)
|
|
0
|
|
||
Cash dividends
|
(6,815
|
)
|
|
(6,594
|
)
|
||
Repurchase of common stock
|
0
|
|
|
(1,166
|
)
|
||
Shares issued for dividend reinvestment plan
|
1,078
|
|
|
0
|
|
||
Shares issued for employee stock ownership plan
|
2,296
|
|
|
1,938
|
|
||
Net shares issued related to restricted stock awards
|
0
|
|
|
(1
|
)
|
||
Net proceeds from exercise of stock options
|
(296
|
)
|
|
102
|
|
||
Net Cash Provided by Financing Activities
|
34,957
|
|
|
53,815
|
|
||
Net Increase (Decrease) in Cash and Cash Equivalents
|
14,518
|
|
|
(2,743
|
)
|
||
Cash and cash equivalents at beginning of period
|
63,954
|
|
|
58,257
|
|
||
Total Cash & Cash Equivalents at End of Period
|
$
|
78,472
|
|
|
$
|
55,514
|
|
(In thousands) (Unaudited)
|
3/31/2017
|
|
3/31/2016
|
||||
Supplemental Information:
|
|
|
|
|
|
||
Cash paid during the year for - Interest
|
$
|
6,018
|
|
|
$
|
5,693
|
|
Cash paid during the year for - Taxes
|
89
|
|
|
2,415
|
|
||
Transfer of loans to other real estate owned
|
2,520
|
|
|
172
|
|
(In thousands except share and per share data)
|
|
Common
Stock
|
|
Additional Paid-in Capital
|
|
Retained
Earnings
|
|
Accumulated Other Comprehensive (Loss) Income
|
|
Treasury
Stock
|
|
Non-
controlling Interests
|
|
Total
|
||||||||||||||
Balances at January 1, 2016
|
|
$
|
1,502
|
|
|
$
|
350,823
|
|
|
$
|
197,445
|
|
|
$
|
(31,001
|
)
|
|
$
|
(3,755
|
)
|
|
$
|
1,452
|
|
|
$
|
516,466
|
|
Net income attributable to noncontrolling interests and Tompkins Financial Corporation
|
|
|
|
|
|
|
|
14,251
|
|
|
|
|
|
|
|
|
33
|
|
|
14,284
|
|
|||||||
Other comprehensive income
|
|
|
|
|
|
|
|
|
|
|
12,660
|
|
|
|
|
|
|
|
|
12,660
|
|
|||||||
Total Comprehensive Income
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
26,944
|
|
|||||||
Cash dividends ($0.44 per share)
|
|
|
|
|
|
|
|
(6,594
|
)
|
|
|
|
|
|
|
|
|
|
|
(6,594
|
)
|
|||||||
Net exercise of stock options (7,751 shares)
|
|
1
|
|
|
101
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
102
|
|
|||||||
Stock-based compensation expense
|
|
|
|
|
496
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
496
|
|
|||||||
Common stock repurchased and returned to unissued status (22,356 shares)
|
|
(2
|
)
|
|
(1,164
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(1,166
|
)
|
|||||||
Shares issued for employee stock ownership plan (31,435 shares)
|
|
3
|
|
|
1,935
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,938
|
|
|||||||
Directors deferred compensation plan (4,202 shares)
|
|
|
|
|
(121
|
)
|
|
|
|
|
|
|
|
121
|
|
|
|
|
|
—
|
|
|||||||
Common stock issued for purchase acquisition (32,553 shares)
|
|
3
|
|
|
1,705
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,708
|
|
|||||||
Restricted stock activity ((5,291) shares)
|
|
(1
|
)
|
|
0
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(1
|
)
|
|||||||
Balances at March 31, 2016
|
|
$
|
1,506
|
|
|
$
|
353,775
|
|
|
$
|
205,102
|
|
|
$
|
(18,341
|
)
|
|
$
|
(3,634
|
)
|
|
$
|
1,485
|
|
|
$
|
539,893
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||
Balances at January 1, 2017
|
|
$
|
1,517
|
|
|
$
|
357,414
|
|
|
$
|
230,182
|
|
|
$
|
(37,109
|
)
|
|
$
|
(4,051
|
)
|
|
$
|
1,452
|
|
|
$
|
549,405
|
|
Net income attributable to noncontrolling interests and Tompkins Financial Corporation
|
|
|
|
|
|
|
|
15,717
|
|
|
|
|
|
|
|
|
32
|
|
|
15,749
|
|
|||||||
Other comprehensive income
|
|
|
|
|
|
|
|
|
|
|
1,425
|
|
|
|
|
|
|
|
|
1,425
|
|
|||||||
Total Comprehensive Income
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
17,174
|
|
|||||||
Cash dividends ($0.45 per share)
|
|
|
|
|
|
|
|
(6,815
|
)
|
|
|
|
|
|
|
|
|
|
|
(6,815
|
)
|
|||||||
Net exercise of stock options (7,372 shares)
|
|
1
|
|
|
(297
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(296
|
)
|
|||||||
Shares issued for dividend reinvestment plan (11,343 shares)
|
|
1
|
|
|
1,077
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,078
|
|
|||||||
Stock-based compensation expense
|
|
|
|
|
706
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
706
|
|
|||||||
Shares issued for employee stock ownership plan (27,412 shares)
|
|
3
|
|
|
2,293
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2,296
|
|
|||||||
Directors deferred compensation plan (2,552) shares)
|
|
|
|
|
6
|
|
|
|
|
|
|
|
|
(6
|
)
|
|
|
|
|
0
|
|
|||||||
Restricted stock activity ((1,027) shares)
|
|
0
|
|
|
0
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
0
|
|
|||||||
Partial repurchase of noncontrolling interest
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(30
|
)
|
|
(30
|
)
|
|||||||
Balances at March 31, 2017
|
|
$
|
1,522
|
|
|
$
|
361,199
|
|
|
$
|
239,084
|
|
|
$
|
(35,684
|
)
|
|
$
|
(4,057
|
)
|
|
$
|
1,454
|
|
|
$
|
563,518
|
|
|
Available-for-Sale Securities
|
||||||||||||||
March 31, 2017
|
Amortized
Cost
|
|
Gross
Unrealized
Gains
|
|
Gross
Unrealized
Losses
|
|
Fair Value
|
||||||||
(in thousands)
|
|
|
|
|
|
|
|
|
|
|
|
||||
Obligations of U.S. Government sponsored entities
|
$
|
527,190
|
|
|
$
|
2,756
|
|
|
$
|
1,971
|
|
|
$
|
527,975
|
|
Obligations of U.S. states and political subdivisions
|
92,877
|
|
|
424
|
|
|
744
|
|
|
92,557
|
|
||||
Mortgage-backed securities – residential, issued by
|
|
|
|
|
|
|
|
|
|
|
|
||||
U.S. Government agencies
|
155,224
|
|
|
1,069
|
|
|
2,160
|
|
|
154,133
|
|
||||
U.S. Government sponsored entities
|
659,819
|
|
|
1,802
|
|
|
11,948
|
|
|
649,673
|
|
||||
Non-U.S. Government agencies or sponsored entities
|
106
|
|
|
0
|
|
|
0
|
|
|
106
|
|
||||
U.S. corporate debt securities
|
2,500
|
|
|
0
|
|
|
338
|
|
|
2,162
|
|
||||
Total debt securities
|
1,437,716
|
|
|
6,051
|
|
|
17,161
|
|
|
1,426,606
|
|
||||
Equity securities
|
1,000
|
|
|
0
|
|
|
83
|
|
|
917
|
|
||||
Total available-for-sale securities
|
$
|
1,438,716
|
|
|
$
|
6,051
|
|
|
$
|
17,244
|
|
|
$
|
1,427,523
|
|
|
Available-for-Sale Securities
|
||||||||||||||
December 31, 2016
|
Amortized
Cost
|
|
Gross
Unrealized
Gains
|
|
Gross
Unrealized
Losses
|
|
Fair Value
|
||||||||
(in thousands)
|
|
|
|
|
|
|
|
|
|
|
|
||||
Obligations of U.S. Government sponsored entities
|
$
|
527,057
|
|
|
$
|
2,873
|
|
|
$
|
2,303
|
|
|
$
|
527,627
|
|
Obligations of U.S. states and political subdivisions
|
89,910
|
|
|
286
|
|
|
1,140
|
|
|
89,056
|
|
||||
Mortgage-backed securities – residential, issued by
|
|
|
|
|
|
|
|
|
|
|
|
||||
U.S. Government agencies
|
159,417
|
|
|
1,081
|
|
|
2,272
|
|
|
158,226
|
|
||||
U.S. Government sponsored entities
|
662,724
|
|
|
1,993
|
|
|
13,287
|
|
|
651,430
|
|
||||
Non-U.S. Government agencies or sponsored entities
|
116
|
|
|
0
|
|
|
0
|
|
|
116
|
|
||||
U.S. corporate debt securities
|
2,500
|
|
|
0
|
|
|
338
|
|
|
2,162
|
|
||||
Total debt securities
|
1,441,724
|
|
|
6,233
|
|
|
19,340
|
|
|
1,428,617
|
|
||||
Equity securities
|
1,000
|
|
|
0
|
|
|
79
|
|
|
921
|
|
||||
Total available-for-sale securities
|
$
|
1,442,724
|
|
|
$
|
6,233
|
|
|
$
|
19,419
|
|
|
$
|
1,429,538
|
|
|
|
Held-to-Maturity Securities
|
||||||||||||||
March 31, 2017
|
|
Amortized
Cost
|
|
Gross
Unrealized
Gains
|
|
Gross
Unrealized
Losses
|
|
Fair Value
|
||||||||
(in thousands)
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Obligations of U.S. Government sponsored entities
|
|
$
|
132,001
|
|
|
$
|
961
|
|
|
$
|
206
|
|
|
$
|
132,756
|
|
Obligations of U.S. states and political subdivisions
|
|
9,544
|
|
|
148
|
|
|
3
|
|
|
9,689
|
|
||||
Total held-to-maturity debt securities
|
|
$
|
141,545
|
|
|
$
|
1,109
|
|
|
$
|
209
|
|
|
$
|
142,445
|
|
|
|
Held-to-Maturity Securities
|
||||||||||||||
December 31, 2016
|
|
Amortized
Cost
|
|
Gross
Unrealized
Gains
|
|
Gross
Unrealized
Losses
|
|
Fair Value
|
||||||||
(in thousands)
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Obligations of U.S. Government sponsored entities
|
|
$
|
132,098
|
|
|
$
|
804
|
|
|
$
|
283
|
|
|
$
|
132,619
|
|
Obligations of U.S. states and political subdivisions
|
|
10,021
|
|
|
195
|
|
|
3
|
|
|
10,213
|
|
||||
Total held-to-maturity debt securities
|
|
$
|
142,119
|
|
|
$
|
999
|
|
|
$
|
286
|
|
|
$
|
142,832
|
|
|
|
Less than 12 Months
|
|
12 Months or Longer
|
|
Total
|
||||||||||||||||||
(in thousands)
|
|
Fair Value
|
|
Unrealized Losses
|
|
Fair Value
|
|
Unrealized Losses
|
|
Fair Value
|
|
Unrealized Losses
|
||||||||||||
Obligations of U.S. Government sponsored entities
|
|
$
|
201,138
|
|
|
$
|
1,971
|
|
|
$
|
0
|
|
|
$
|
0
|
|
|
$
|
201,138
|
|
|
$
|
1,971
|
|
Obligations of U.S. states and political subdivisions
|
|
47,383
|
|
|
744
|
|
|
0
|
|
|
0
|
|
|
47,383
|
|
|
744
|
|
||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Mortgage-backed securities – residential, issued by
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
U.S. Government agencies
|
|
102,556
|
|
|
1,485
|
|
|
21,325
|
|
|
675
|
|
|
123,881
|
|
|
2,160
|
|
||||||
U.S. Government sponsored entities
|
|
462,178
|
|
|
7,591
|
|
|
121,805
|
|
|
4,357
|
|
|
583,983
|
|
|
11,948
|
|
||||||
U.S. corporate debt securities
|
|
0
|
|
|
0
|
|
|
2,163
|
|
|
338
|
|
|
2,163
|
|
|
338
|
|
||||||
Equity securities
|
|
0
|
|
|
0
|
|
|
917
|
|
|
83
|
|
|
917
|
|
|
83
|
|
||||||
Total available-for-sale securities
|
|
$
|
813,255
|
|
|
$
|
11,791
|
|
|
$
|
146,210
|
|
|
$
|
5,453
|
|
|
$
|
959,465
|
|
|
$
|
17,244
|
|
|
|
Less than 12 Months
|
|
12 Months or Longer
|
|
Total
|
||||||||||||||||||
(in thousands)
|
|
Fair Value
|
|
Unrealized Losses
|
|
Fair Value
|
|
Unrealized Losses
|
|
Fair Value
|
|
Unrealized Losses
|
||||||||||||
Obligations of U.S. Government sponsored entities
|
|
$
|
208,940
|
|
|
$
|
2,303
|
|
|
$
|
0
|
|
|
$
|
0
|
|
|
$
|
208,940
|
|
|
$
|
2,303
|
|
Obligations of U.S. states and political subdivisions
|
|
58,852
|
|
|
1,139
|
|
|
751
|
|
|
1
|
|
|
59,603
|
|
|
1,140
|
|
||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Mortgage-backed securities – residential, issued by
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
U.S. Government agencies
|
|
98,307
|
|
|
1,570
|
|
|
22,376
|
|
|
702
|
|
|
120,683
|
|
|
2,272
|
|
||||||
U.S. Government sponsored entities
|
|
463,009
|
|
|
8,933
|
|
|
123,915
|
|
|
4,354
|
|
|
586,924
|
|
|
13,287
|
|
||||||
U.S. corporate debt securities
|
|
0
|
|
|
0
|
|
|
2,162
|
|
|
338
|
|
|
2,162
|
|
|
338
|
|
||||||
Equity securities
|
|
0
|
|
|
0
|
|
|
921
|
|
|
79
|
|
|
921
|
|
|
79
|
|
||||||
Total available-for-sale securities
|
|
$
|
829,108
|
|
|
$
|
13,945
|
|
|
$
|
150,125
|
|
|
$
|
5,474
|
|
|
$
|
979,233
|
|
|
$
|
19,419
|
|
|
|
Less than 12 Months
|
|
12 Months or Longer
|
|
Total
|
||||||||||||||||||
(in thousands)
|
|
Fair Value
|
|
Unrealized Losses
|
|
Fair Value
|
|
Unrealized Losses
|
|
Fair Value
|
|
Unrealized Losses
|
||||||||||||
Obligations of U.S. Government sponsored entities
|
|
$
|
30,118
|
|
|
$
|
206
|
|
|
$
|
0
|
|
|
$
|
0
|
|
|
$
|
30,118
|
|
|
$
|
206
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Obligations of U.S. states and political subdivisions
|
|
2,445
|
|
|
3
|
|
|
0
|
|
|
0
|
|
|
2,445
|
|
|
3
|
|
||||||
Total held-to-maturity securities
|
|
$
|
32,563
|
|
|
$
|
209
|
|
|
$
|
0
|
|
|
$
|
0
|
|
|
$
|
32,563
|
|
|
$
|
209
|
|
|
|
Less than 12 Months
|
|
12 Months or Longer
|
|
Total
|
||||||||||||||||||
(in thousands)
|
|
Fair Value
|
|
Unrealized Losses
|
|
Fair Value
|
|
Unrealized Losses
|
|
Fair Value
|
|
Unrealized Losses
|
||||||||||||
Obligations of U.S. Government sponsored entities
|
|
$
|
40,802
|
|
|
$
|
283
|
|
|
$
|
0
|
|
|
$
|
0
|
|
|
$
|
40,802
|
|
|
$
|
283
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Obligations of U.S. states and political subdivisions
|
|
2,567
|
|
|
3
|
|
|
0
|
|
|
0
|
|
|
2,567
|
|
|
3
|
|
||||||
Total held-to-maturity securities
|
|
$
|
43,369
|
|
|
$
|
286
|
|
|
$
|
0
|
|
|
$
|
0
|
|
|
$
|
43,369
|
|
|
$
|
286
|
|
•
|
The length of time and the extent to which the fair value has been less than the amortized cost basis;
|
•
|
The level of credit enhancement provided by the structure which includes, but is not limited to, credit subordination positions, excess spreads, overcollateralization, protective triggers;
|
•
|
Changes in the near term prospects of the issuer or underlying collateral of a security, such as changes in default rates, loss severities given default and significant changes in prepayment assumptions;
|
•
|
The level of excess cash flow generated from the underlying collateral supporting the principal and interest payments of the debt securities; and
|
•
|
Any adverse change to the credit conditions of the issuer or the security such as credit downgrades by the rating agencies.
|
March 31, 2017
|
|
|
|
|
|
|
||
(in thousands)
|
|
Amortized Cost
|
|
Fair Value
|
||||
Available-for-sale securities:
|
|
|
|
|
|
|
||
Due in one year or less
|
|
$
|
22,622
|
|
|
$
|
22,756
|
|
Due after one year through five years
|
|
406,443
|
|
|
408,420
|
|
||
Due after five years through ten years
|
|
178,452
|
|
|
177,032
|
|
||
Due after ten years
|
|
15,050
|
|
|
14,486
|
|
||
Total
|
|
622,567
|
|
|
622,694
|
|
||
Mortgage-backed securities
|
|
815,149
|
|
|
803,912
|
|
||
Total available-for-sale debt securities
|
|
$
|
1,437,716
|
|
|
$
|
1,426,606
|
|
December 31, 2016
|
|
|
|
|
|
|
||
(in thousands)
|
|
Amortized Cost
|
|
Fair Value
|
||||
Available-for-sale securities:
|
|
|
|
|
|
|
||
Due in one year or less
|
|
$
|
17,878
|
|
|
$
|
18,034
|
|
Due after one year through five years
|
|
376,777
|
|
|
378,631
|
|
||
Due after five years through ten years
|
|
210,985
|
|
|
208,999
|
|
||
Due after ten years
|
|
13,827
|
|
|
13,181
|
|
||
Total
|
|
619,467
|
|
|
618,845
|
|
||
Mortgage-backed securities
|
|
822,257
|
|
|
809,772
|
|
||
Total available-for-sale debt securities
|
|
$
|
1,441,724
|
|
|
$
|
1,428,617
|
|
March 31, 2017
|
|
|
|
|
|
|
||
(in thousands)
|
|
Amortized Cost
|
|
Fair Value
|
||||
Held-to-maturity securities:
|
|
|
|
|
|
|
||
Due in one year or less
|
|
$
|
7,562
|
|
|
$
|
7,582
|
|
Due after one year through five years
|
|
32,048
|
|
|
32,543
|
|
||
Due after five years through ten years
|
|
101,935
|
|
|
102,320
|
|
||
Total held-to-maturity debt securities
|
|
$
|
141,545
|
|
|
$
|
142,445
|
|
December 31, 2016
|
|
|
|
|
|
|
||
(in thousands)
|
|
Amortized Cost
|
|
Fair Value
|
||||
Held-to-maturity securities:
|
|
|
|
|
|
|
||
Due in one year or less
|
|
$
|
7,452
|
|
|
$
|
7,469
|
|
Due after one year through five years
|
|
27,480
|
|
|
27,866
|
|
||
Due after five years through ten years
|
|
107,187
|
|
|
107,497
|
|
||
Due after ten years
|
|
0
|
|
|
0
|
|
||
Total held-to-maturity debt securities
|
|
$
|
142,119
|
|
|
$
|
142,832
|
|
|
3/31/2017
|
|
12/31/2016
|
||||||||||||||||||||
(in thousands)
|
Originated
|
|
Acquired
|
|
Total Loans and Leases
|
|
Originated
|
|
Acquired
|
|
Total Loans and Leases
|
||||||||||||
Commercial and industrial
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Agriculture
|
$
|
88,999
|
|
|
$
|
0
|
|
|
$
|
88,999
|
|
|
$
|
118,247
|
|
|
$
|
0
|
|
|
$
|
118,247
|
|
Commercial and industrial other
|
886,370
|
|
|
79,356
|
|
|
965,726
|
|
|
847,055
|
|
|
79,317
|
|
|
926,372
|
|
||||||
Subtotal commercial and industrial
|
975,369
|
|
|
79,356
|
|
|
1,054,725
|
|
|
965,302
|
|
|
79,317
|
|
|
1,044,619
|
|
||||||
Commercial real estate
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Construction
|
142,685
|
|
|
1,548
|
|
|
144,233
|
|
|
135,834
|
|
|
8,936
|
|
|
144,770
|
|
||||||
Agriculture
|
116,682
|
|
|
262
|
|
|
116,944
|
|
|
102,509
|
|
|
267
|
|
|
102,776
|
|
||||||
Commercial real estate other
|
1,440,690
|
|
|
233,298
|
|
|
1,673,988
|
|
|
1,431,690
|
|
|
241,605
|
|
|
1,673,295
|
|
||||||
Subtotal commercial real estate
|
1,700,057
|
|
|
235,108
|
|
|
1,935,165
|
|
|
1,670,033
|
|
|
250,808
|
|
|
1,920,841
|
|
||||||
Residential real estate
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Home equity
|
209,740
|
|
|
35,291
|
|
|
245,031
|
|
|
209,277
|
|
|
37,737
|
|
|
247,014
|
|
||||||
Mortgages
|
969,153
|
|
|
24,824
|
|
|
993,977
|
|
|
947,378
|
|
|
25,423
|
|
|
972,801
|
|
||||||
Subtotal residential real estate
|
1,178,893
|
|
|
60,115
|
|
|
1,239,008
|
|
|
1,156,655
|
|
|
63,160
|
|
|
1,219,815
|
|
||||||
Consumer and other
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Indirect
|
13,853
|
|
|
0
|
|
|
13,853
|
|
|
14,835
|
|
|
0
|
|
|
14,835
|
|
||||||
Consumer and other
|
42,764
|
|
|
801
|
|
|
43,565
|
|
|
44,393
|
|
|
826
|
|
|
45,219
|
|
||||||
Subtotal consumer and other
|
56,617
|
|
|
801
|
|
|
57,418
|
|
|
59,228
|
|
|
826
|
|
|
60,054
|
|
||||||
Leases
|
15,615
|
|
|
0
|
|
|
15,615
|
|
|
16,650
|
|
|
0
|
|
|
16,650
|
|
||||||
Total loans and leases
|
3,926,551
|
|
|
375,380
|
|
|
4,301,931
|
|
|
3,867,868
|
|
|
394,111
|
|
|
4,261,979
|
|
||||||
Less: unearned income and deferred costs and fees
|
(4,138
|
)
|
|
0
|
|
|
(4,138
|
)
|
|
(3,946
|
)
|
|
0
|
|
|
(3,946
|
)
|
||||||
Total loans and leases, net of unearned income and deferred costs and fees
|
$
|
3,922,413
|
|
|
$
|
375,380
|
|
|
$
|
4,297,793
|
|
|
$
|
3,863,922
|
|
|
$
|
394,111
|
|
|
$
|
4,258,033
|
|
(in thousands)
|
3/31/2017
|
|
12/31/2016
|
||||
Acquired Credit Impaired Loans
|
|
|
|
|
|
||
Outstanding principal balance
|
$
|
24,247
|
|
|
$
|
26,237
|
|
Carrying amount
|
20,027
|
|
|
22,517
|
|
||
|
|
|
|
||||
Acquired Non-Credit Impaired Loans
|
|
|
|
|
|
||
Outstanding principal balance
|
358,985
|
|
|
375,471
|
|
||
Carrying amount
|
355,353
|
|
|
371,594
|
|
||
|
|
|
|
||||
Total Acquired Loans
|
|
|
|
|
|
||
Outstanding principal balance
|
383,232
|
|
|
401,708
|
|
||
Carrying amount
|
375,380
|
|
|
394,111
|
|
March 31, 2017
|
|||||||||||||||||||||||
(in thousands)
|
30-89 days
|
|
90 days or more
|
|
Current Loans
|
|
Total Loans
|
|
90 days and accruing
1
|
|
Nonaccrual
|
||||||||||||
Originated Loans and Leases
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Commercial and industrial
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Agriculture
|
$
|
0
|
|
|
$
|
0
|
|
|
$
|
88,999
|
|
|
$
|
88,999
|
|
|
$
|
0
|
|
|
$
|
0
|
|
Commercial and industrial other
|
2,246
|
|
|
335
|
|
|
883,789
|
|
|
886,370
|
|
|
0
|
|
|
358
|
|
||||||
Subtotal commercial and industrial
|
2,246
|
|
|
335
|
|
|
972,788
|
|
|
975,369
|
|
|
0
|
|
|
358
|
|
||||||
Commercial real estate
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Construction
|
0
|
|
|
0
|
|
|
142,685
|
|
|
142,685
|
|
|
0
|
|
|
0
|
|
||||||
Agriculture
|
16
|
|
|
0
|
|
|
116,666
|
|
|
116,682
|
|
|
0
|
|
|
0
|
|
||||||
Commercial real estate other
|
271
|
|
|
3,651
|
|
|
1,436,768
|
|
|
1,440,690
|
|
|
0
|
|
|
6,323
|
|
||||||
Subtotal commercial real estate
|
287
|
|
|
3,651
|
|
|
1,696,119
|
|
|
1,700,057
|
|
|
0
|
|
|
6,323
|
|
||||||
Residential real estate
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Home equity
|
320
|
|
|
1,254
|
|
|
208,166
|
|
|
209,740
|
|
|
0
|
|
|
1,267
|
|
||||||
Mortgages
|
2,188
|
|
|
2,689
|
|
|
964,276
|
|
|
969,153
|
|
|
0
|
|
|
5,659
|
|
||||||
Subtotal residential real estate
|
2,508
|
|
|
3,943
|
|
|
1,172,442
|
|
|
1,178,893
|
|
|
0
|
|
|
6,926
|
|
||||||
Consumer and other
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Indirect
|
337
|
|
|
331
|
|
|
13,185
|
|
|
13,853
|
|
|
0
|
|
|
170
|
|
||||||
Consumer and other
|
84
|
|
|
8
|
|
|
42,672
|
|
|
42,764
|
|
|
0
|
|
|
9
|
|
||||||
Subtotal consumer and other
|
421
|
|
|
339
|
|
|
55,857
|
|
|
56,617
|
|
|
0
|
|
|
179
|
|
||||||
Leases
|
0
|
|
|
0
|
|
|
15,615
|
|
|
15,615
|
|
|
0
|
|
|
0
|
|
||||||
Total loans and leases
|
5,462
|
|
|
8,268
|
|
|
3,912,821
|
|
|
3,926,551
|
|
|
0
|
|
|
13,786
|
|
||||||
Less: unearned income and deferred costs and fees
|
0
|
|
|
0
|
|
|
(4,138
|
)
|
|
(4,138
|
)
|
|
0
|
|
|
0
|
|
||||||
Total originated loans and leases, net of unearned income and deferred costs and fees
|
$
|
5,462
|
|
|
$
|
8,268
|
|
|
$
|
3,908,683
|
|
|
$
|
3,922,413
|
|
|
$
|
0
|
|
|
$
|
13,786
|
|
Acquired Loans and Leases
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Commercial and industrial
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Commercial and industrial other
|
13
|
|
|
77
|
|
|
79,266
|
|
|
79,356
|
|
|
30
|
|
|
212
|
|
||||||
Subtotal commercial and industrial
|
13
|
|
|
77
|
|
|
79,266
|
|
|
79,356
|
|
|
30
|
|
|
212
|
|
||||||
Commercial real estate
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Construction
|
0
|
|
|
0
|
|
|
1,548
|
|
|
1,548
|
|
|
0
|
|
|
0
|
|
||||||
Agriculture
|
0
|
|
|
0
|
|
|
262
|
|
|
262
|
|
|
0
|
|
|
0
|
|
||||||
Commercial real estate other
|
133
|
|
|
2,595
|
|
|
230,570
|
|
|
233,298
|
|
|
1,948
|
|
|
996
|
|
||||||
Subtotal commercial real estate
|
133
|
|
|
2,595
|
|
|
232,380
|
|
|
235,108
|
|
|
1,948
|
|
|
996
|
|
||||||
Residential real estate
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Home equity
|
380
|
|
|
659
|
|
|
34,252
|
|
|
35,291
|
|
|
169
|
|
|
830
|
|
||||||
Mortgages
|
380
|
|
|
1,044
|
|
|
23,400
|
|
|
24,824
|
|
|
554
|
|
|
1,318
|
|
||||||
Subtotal residential real estate
|
760
|
|
|
1,703
|
|
|
57,652
|
|
|
60,115
|
|
|
723
|
|
|
2,148
|
|
||||||
Consumer and other
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Consumer and other
|
1
|
|
|
0
|
|
|
800
|
|
|
801
|
|
|
0
|
|
|
0
|
|
||||||
Subtotal consumer and other
|
1
|
|
|
0
|
|
|
800
|
|
|
801
|
|
|
0
|
|
|
0
|
|
||||||
Total acquired loans and leases, net of unearned income and deferred costs and fees
|
$
|
907
|
|
|
$
|
4,375
|
|
|
$
|
370,098
|
|
|
$
|
375,380
|
|
|
$
|
2,701
|
|
|
$
|
3,356
|
|
December 31, 2016
|
|||||||||||||||||||||||
(in thousands)
|
30-89 days
|
|
90 days or more
|
|
Current Loans
|
|
Total Loans
|
|
90 days and accruing
1
|
|
Nonaccrual
|
||||||||||||
Originated loans and leases
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Commercial and industrial
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Agriculture
|
$
|
0
|
|
|
$
|
0
|
|
|
$
|
118,247
|
|
|
$
|
118,247
|
|
|
$
|
0
|
|
|
$
|
0
|
|
Commercial and industrial other
|
1,312
|
|
|
281
|
|
|
845,462
|
|
|
847,055
|
|
|
0
|
|
|
526
|
|
||||||
Subtotal commercial and industrial
|
1,312
|
|
|
281
|
|
|
963,709
|
|
|
965,302
|
|
|
0
|
|
|
526
|
|
||||||
Commercial real estate
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Construction
|
0
|
|
|
0
|
|
|
135,834
|
|
|
135,834
|
|
|
0
|
|
|
0
|
|
||||||
Agriculture
|
17
|
|
|
0
|
|
|
102,492
|
|
|
102,509
|
|
|
0
|
|
|
162
|
|
||||||
Commercial real estate other
|
2,546
|
|
|
3,071
|
|
|
1,426,073
|
|
|
1,431,690
|
|
|
0
|
|
|
5,988
|
|
||||||
Subtotal commercial real estate
|
2,563
|
|
|
3,071
|
|
|
1,664,399
|
|
|
1,670,033
|
|
|
0
|
|
|
6,150
|
|
||||||
Residential real estate
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Home equity
|
433
|
|
|
1,954
|
|
|
206,890
|
|
|
209,277
|
|
|
0
|
|
|
2,016
|
|
||||||
Mortgages
|
1,749
|
|
|
3,244
|
|
|
942,385
|
|
|
947,378
|
|
|
0
|
|
|
5,442
|
|
||||||
Subtotal residential real estate
|
2,182
|
|
|
5,198
|
|
|
1,149,275
|
|
|
1,156,655
|
|
|
0
|
|
|
7,458
|
|
||||||
Consumer and other
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Indirect
|
444
|
|
|
376
|
|
|
14,015
|
|
|
14,835
|
|
|
0
|
|
|
166
|
|
||||||
Consumer and other
|
193
|
|
|
8
|
|
|
44,192
|
|
|
44,393
|
|
|
0
|
|
|
0
|
|
||||||
Subtotal consumer and other
|
637
|
|
|
384
|
|
|
58,207
|
|
|
59,228
|
|
|
0
|
|
|
166
|
|
||||||
Leases
|
0
|
|
|
0
|
|
|
16,650
|
|
|
16,650
|
|
|
0
|
|
|
0
|
|
||||||
Total loans and leases
|
6,694
|
|
|
8,934
|
|
|
3,852,240
|
|
|
3,867,868
|
|
|
0
|
|
|
14,300
|
|
||||||
Less: unearned income and deferred costs and fees
|
0
|
|
|
0
|
|
|
(3,946
|
)
|
|
(3,946
|
)
|
|
0
|
|
|
0
|
|
||||||
Total originated loans and leases, net of unearned income and deferred costs and fees
|
$
|
6,694
|
|
|
$
|
8,934
|
|
|
$
|
3,848,294
|
|
|
$
|
3,863,922
|
|
|
$
|
0
|
|
|
$
|
14,300
|
|
Acquired loans and leases
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Commercial and industrial
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Commercial and industrial other
|
12
|
|
|
87
|
|
|
79,218
|
|
|
79,317
|
|
|
40
|
|
|
212
|
|
||||||
Subtotal commercial and industrial
|
12
|
|
|
87
|
|
|
79,218
|
|
|
79,317
|
|
|
40
|
|
|
212
|
|
||||||
Commercial real estate
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Construction
|
0
|
|
|
0
|
|
|
8,936
|
|
|
8,936
|
|
|
0
|
|
|
0
|
|
||||||
Agriculture
|
0
|
|
|
0
|
|
|
267
|
|
|
267
|
|
|
0
|
|
|
0
|
|
||||||
Commercial real estate other
|
1,461
|
|
|
3,952
|
|
|
236,192
|
|
|
241,605
|
|
|
1,402
|
|
|
2,926
|
|
||||||
Subtotal commercial real estate
|
1,461
|
|
|
3,952
|
|
|
245,395
|
|
|
250,808
|
|
|
1,402
|
|
|
2,926
|
|
||||||
Residential real estate
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Home equity
|
251
|
|
|
637
|
|
|
36,849
|
|
|
37,737
|
|
|
185
|
|
|
663
|
|
||||||
Mortgages
|
829
|
|
|
1,651
|
|
|
22,943
|
|
|
25,423
|
|
|
930
|
|
|
940
|
|
||||||
Subtotal residential real estate
|
1,080
|
|
|
2,288
|
|
|
59,792
|
|
|
63,160
|
|
|
1,115
|
|
|
1,603
|
|
||||||
Consumer and other
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Consumer and other
|
0
|
|
|
0
|
|
|
826
|
|
|
826
|
|
|
0
|
|
|
0
|
|
||||||
Subtotal consumer and other
|
0
|
|
|
0
|
|
|
826
|
|
|
826
|
|
|
0
|
|
|
0
|
|
||||||
Covered loans
|
0
|
|
|
0
|
|
|
0
|
|
|
0
|
|
|
0
|
|
|
0
|
|
||||||
Total acquired loans and leases, net of unearned income and deferred costs and fees
|
$
|
2,553
|
|
|
$
|
6,327
|
|
|
$
|
385,231
|
|
|
$
|
394,111
|
|
|
$
|
2,557
|
|
|
$
|
4,741
|
|
(in thousands)
|
Commercial
and Industrial
|
|
|
Commercial
Real Estate
|
|
|
Residential
Real Estate
|
|
|
Consumer
and Other
|
|
|
Finance
Leases
|
|
|
Total
|
|
||||||
Allowance for originated loans and leases
|
|
|
|
|
|
|
|||||||||||||||||
March 31, 2017
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Individually evaluated for impairment
|
$
|
45
|
|
|
$
|
224
|
|
|
$
|
0
|
|
|
$
|
0
|
|
|
$
|
0
|
|
|
$
|
269
|
|
Collectively evaluated for impairment
|
10,228
|
|
|
18,890
|
|
|
5,386
|
|
|
1,142
|
|
|
0
|
|
|
35,646
|
|
||||||
Ending balance
|
$
|
10,273
|
|
|
$
|
19,114
|
|
|
$
|
5,386
|
|
|
$
|
1,142
|
|
|
$
|
0
|
|
|
$
|
35,915
|
|
(in thousands)
|
Commercial
and Industrial
|
|
|
Commercial Real Estate
|
|
|
Residential Real Estate
|
|
|
Consumer
and Other
|
|
|
Covered Loans
|
|
|
Total
|
|
||||||
Allowance for acquired loans
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
March 31, 2017
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Individually evaluated for impairment
|
$
|
0
|
|
|
$
|
76
|
|
|
$
|
120
|
|
|
$
|
0
|
|
|
$
|
0
|
|
|
$
|
196
|
|
Collectively evaluated for impairment
|
0
|
|
|
0
|
|
|
49
|
|
|
6
|
|
|
0
|
|
|
55
|
|
||||||
Ending balance
|
$
|
0
|
|
|
$
|
76
|
|
|
$
|
169
|
|
|
$
|
6
|
|
|
$
|
0
|
|
|
$
|
251
|
|
(in thousands)
|
Commercial and Industrial
|
|
|
Commercial Real Estate
|
|
|
Residential Real Estate
|
|
|
Consumer
and Other
|
|
|
Finance Leases
|
|
|
Total
|
|
||||||
Allowance for originated loans and leases
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
December 31, 2016
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Individually evaluated for impairment
|
$
|
95
|
|
|
$
|
322
|
|
|
$
|
0
|
|
|
$
|
0
|
|
|
$
|
0
|
|
|
$
|
417
|
|
Collectively evaluated for impairment
|
9,294
|
|
|
19,514
|
|
|
5,149
|
|
|
1,224
|
|
|
0
|
|
|
35,181
|
|
||||||
Ending balance
|
$
|
9,389
|
|
|
$
|
19,836
|
|
|
$
|
5,149
|
|
|
$
|
1,224
|
|
|
$
|
0
|
|
|
$
|
35,598
|
|
(in thousands)
|
Commercial and Industrial
|
|
|
Commercial Real Estate
|
|
|
Residential Real Estate
|
|
|
Consumer
and Other
|
|
|
Covered Loans
|
|
|
Total
|
|
||||||
Allowance for acquired loans
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
December 31, 2016
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Individually evaluated for impairment
|
$
|
0
|
|
|
$
|
76
|
|
|
$
|
0
|
|
|
$
|
0
|
|
|
$
|
0
|
|
|
$
|
76
|
|
Collectively evaluated for impairment
|
0
|
|
|
21
|
|
|
54
|
|
|
6
|
|
|
0
|
|
|
81
|
|
||||||
Ending balance
|
$
|
0
|
|
|
$
|
97
|
|
|
$
|
54
|
|
|
$
|
6
|
|
|
$
|
0
|
|
|
$
|
157
|
|
(in thousands)
|
Commercial and Industrial
|
|
|
Commercial Real Estate
|
|
|
Residential Real Estate
|
|
|
Consumer
and Other
|
|
|
Finance Leases
|
|
|
Total
|
|
||||||
Originated loans and leases
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
March 31, 2017
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Individually evaluated for impairment
|
$
|
241
|
|
|
$
|
8,706
|
|
|
$
|
3,492
|
|
|
$
|
0
|
|
|
$
|
0
|
|
|
$
|
12,439
|
|
Collectively evaluated for impairment
|
975,128
|
|
|
1,691,351
|
|
|
1,175,401
|
|
|
56,617
|
|
|
15,615
|
|
|
3,914,112
|
|
||||||
Total
|
$
|
975,369
|
|
|
$
|
1,700,057
|
|
|
$
|
1,178,893
|
|
|
$
|
56,617
|
|
|
$
|
15,615
|
|
|
$
|
3,926,551
|
|
(in thousands)
|
Commercial and Industrial
|
|
|
Commercial Real Estate
|
|
|
Residential Real Estate
|
|
|
Consumer
and Other
|
|
|
Covered Loans
|
|
|
Total
|
|
||||||
Acquired loans
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
March 31, 2017
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Individually evaluated for impairment
|
$
|
170
|
|
|
$
|
1,672
|
|
|
$
|
1,451
|
|
|
$
|
0
|
|
|
$
|
0
|
|
|
$
|
3,293
|
|
Loans acquired with deteriorated credit quality
|
372
|
|
|
12,497
|
|
|
7,158
|
|
|
0
|
|
|
0
|
|
|
20,027
|
|
||||||
Collectively evaluated for impairment
|
78,814
|
|
|
220,939
|
|
|
51,506
|
|
|
801
|
|
|
0
|
|
|
352,060
|
|
||||||
Total
|
$
|
79,356
|
|
|
$
|
235,108
|
|
|
$
|
60,115
|
|
|
$
|
801
|
|
|
$
|
0
|
|
|
$
|
375,380
|
|
(in thousands)
|
Commercial and Industrial
|
|
|
Commercial Real Estate
|
|
|
Residential Real Estate
|
|
|
Consumer
and Other
|
|
|
Finance Leases
|
|
|
Total
|
|
||||||
Originated loans and leases
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
December 31, 2016
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Individually evaluated for impairment
|
$
|
635
|
|
|
$
|
8,812
|
|
|
$
|
3,507
|
|
|
$
|
0
|
|
|
$
|
0
|
|
|
$
|
12,954
|
|
Collectively evaluated for impairment
|
964,667
|
|
|
1,661,221
|
|
|
1,153,148
|
|
|
59,228
|
|
|
16,650
|
|
|
3,854,914
|
|
||||||
Total
|
$
|
965,302
|
|
|
$
|
1,670,033
|
|
|
$
|
1,156,655
|
|
|
$
|
59,228
|
|
|
$
|
16,650
|
|
|
$
|
3,867,868
|
|
(in thousands)
|
Commercial and Industrial
|
|
|
Commercial Real Estate
|
|
|
Residential Real Estate
|
|
|
Consumer
and Other
|
|
|
Covered Loans
|
|
|
Total
|
|
||||||
Acquired loans
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
December 31, 2016
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Individually evaluated for impairment
|
$
|
172
|
|
|
$
|
4,081
|
|
|
$
|
1,372
|
|
|
$
|
0
|
|
|
$
|
0
|
|
|
$
|
5,625
|
|
Loans acquired with deteriorated credit quality
|
448
|
|
|
14,368
|
|
|
7,701
|
|
|
0
|
|
|
0
|
|
|
22,517
|
|
||||||
Collectively evaluated for impairment
|
78,697
|
|
|
232,359
|
|
|
54,087
|
|
|
826
|
|
|
0
|
|
|
365,969
|
|
||||||
Total
|
$
|
79,317
|
|
|
$
|
250,808
|
|
|
$
|
63,160
|
|
|
$
|
826
|
|
|
$
|
0
|
|
|
$
|
394,111
|
|
|
Three Months Ended 03/31/2017
|
|
Three Months Ended 03/31/16
|
||||||||||||
(in thousands)
|
Average Recorded Investment
|
|
Interest Income Recognized
|
|
Average Recorded Investment
|
|
Interest Income Recognized
|
||||||||
Originated loans and leases with no related allowance
|
|
|
|
|
|
|
|
|
|
|
|
||||
Commercial and industrial
|
|
|
|
|
|
|
|
|
|
|
|
||||
Commercial and industrial other
|
280
|
|
|
0
|
|
|
624
|
|
|
0
|
|
||||
Commercial real estate
|
|
|
|
|
|
|
|
|
|
|
|
||||
Commercial real estate other
|
8,162
|
|
|
0
|
|
|
5,699
|
|
|
0
|
|
||||
Residential real estate
|
|
|
|
|
|
|
|
|
|
|
|
||||
Home equity
|
3,488
|
|
|
0
|
|
|
2,290
|
|
|
0
|
|
||||
Subtotal
|
$
|
11,930
|
|
|
$
|
0
|
|
|
$
|
8,613
|
|
|
$
|
0
|
|
|
|
|
|
|
|
|
|
||||||||
Originated loans and leases with related allowance
|
|
|
|
|
|
|
|
|
|
|
|
||||
|
|
|
|
|
|
|
|
||||||||
Commercial and industrial
|
|
|
|
|
|
|
|
|
|
|
|
||||
Commercial and industrial other
|
155
|
|
|
0
|
|
|
4
|
|
|
0
|
|
||||
Commercial real estate
|
|
|
|
|
|
|
|
|
|
|
|
||||
Commercial real estate other
|
597
|
|
|
0
|
|
|
587
|
|
|
0
|
|
||||
Subtotal
|
$
|
752
|
|
|
$
|
0
|
|
|
$
|
591
|
|
|
$
|
0
|
|
Total
|
$
|
12,682
|
|
|
$
|
0
|
|
|
$
|
9,204
|
|
|
$
|
0
|
|
|
Three Months Ended 03/31/2017
|
|
Three Months Ended 03/31/2016
|
||||||||||||
(in thousands)
|
Average Recorded Investment
|
|
Interest Income Recognized
|
|
Average Recorded Investment
|
|
Interest Income Recognized
|
||||||||
Acquired loans and leases with no related allowance
|
|
|
|
|
|
|
|
|
|
|
|
||||
Commercial and industrial
|
|
|
|
|
|
|
|
|
|
|
|
||||
Commercial and industrial other
|
165
|
|
|
0
|
|
|
594
|
|
|
0
|
|
||||
Commercial real estate
|
|
|
|
|
|
|
|
|
|
|
|
||||
Construction
|
0
|
|
|
0
|
|
|
359
|
|
|
0
|
|
||||
Commercial real estate other
|
2,746
|
|
|
0
|
|
|
5,176
|
|
|
0
|
|
||||
Residential real estate
|
|
|
|
|
|
|
|
|
|
|
|
||||
Home equity
|
1,411
|
|
|
0
|
|
|
893
|
|
|
0
|
|
||||
Subtotal
|
$
|
4,322
|
|
|
$
|
0
|
|
|
$
|
7,022
|
|
|
$
|
0
|
|
|
|
|
|
|
|
|
|
||||||||
Acquired loans and leases with related allowance
|
|
|
|
|
|
|
|
|
|
|
|
||||
|
|
|
|
|
|
|
|
||||||||
Commercial and industrial
|
|
|
|
|
|
|
|
|
|
|
|
||||
Commercial and industrial other
|
0
|
|
|
0
|
|
|
518
|
|
|
0
|
|
||||
Commercial real estate
|
|
|
|
|
|
|
|
|
|
|
|
||||
Commercial real estate other
|
77
|
|
|
0
|
|
|
32
|
|
|
0
|
|
||||
Residential real estate
|
|
|
|
|
|
|
|
||||||||
Home equity
|
60
|
|
|
0
|
|
|
0
|
|
|
0
|
|
||||
Subtotal
|
$
|
137
|
|
|
$
|
0
|
|
|
$
|
550
|
|
|
$
|
0
|
|
Total
|
$
|
4,459
|
|
|
$
|
0
|
|
|
$
|
7,572
|
|
|
$
|
0
|
|
March 31, 2017
|
Three Months Ended
|
||||||||||||||||
|
|
|
|
|
|
|
Defaulted TDRs
2
|
||||||||||
(in thousands)
|
Number of Loans
|
|
Pre-Modification Outstanding Recorded Investment
|
|
Post-Modification Outstanding Recorded Investment
|
|
Number of Loans
|
|
Post-Modification Outstanding Recorded Investment
|
||||||||
Residential real estate
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Home equity
1
|
1
|
|
|
73
|
|
|
73
|
|
|
1
|
|
|
55
|
|
|||
Total
|
1
|
|
|
$
|
73
|
|
|
$
|
73
|
|
|
1
|
|
|
$
|
55
|
|
March 31, 2016
|
Three Months Ended
|
||||||||||||||||
|
|
|
|
|
|
|
Defaulted TDRs
3
|
||||||||||
(in thousands)
|
Number of Loans
|
|
Pre-Modification Outstanding Recorded Investment
|
|
Post-Modification Outstanding Recorded Investment
|
|
Number of Loans
|
|
Post-Modification Outstanding Recorded Investment
|
||||||||
Commercial and industrial
|
|
|
|
|
|
|
|
|
|
||||||||
Commercial and industrial other
1
|
2
|
|
|
$
|
1,115
|
|
|
$
|
1,115
|
|
|
0
|
|
|
$
|
0
|
|
Residential real estate
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Home equity
2
|
3
|
|
|
169
|
|
|
169
|
|
|
0
|
|
|
0
|
|
|||
Total
|
5
|
|
|
$
|
1,284
|
|
|
$
|
1,284
|
|
|
0
|
|
|
$
|
0
|
|
March 31, 2017
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
|
Commercial and Industrial
|
|
Commercial and Industrial
|
|
CommercialReal Estate
|
|
CommercialReal Estate
|
|
CommercialReal Estate
|
|
|
||||||||||||
(in thousands)
|
Other
|
|
Agriculture
|
|
Other
|
|
Agriculture
|
|
Construction
|
|
Total
|
|
|||||||||||
Originated Loans and Leases
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Internal risk grade:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Pass
|
$
|
875,097
|
|
|
$
|
87,119
|
|
|
$
|
1,417,648
|
|
|
$
|
113,108
|
|
|
$
|
142,685
|
|
|
$
|
2,635,657
|
|
Special Mention
|
6,780
|
|
|
1,813
|
|
|
7,083
|
|
|
3,185
|
|
|
0
|
|
|
18,861
|
|
||||||
Substandard
|
4,493
|
|
|
67
|
|
|
15,959
|
|
|
389
|
|
|
0
|
|
|
20,908
|
|
||||||
Total
|
$
|
886,370
|
|
|
$
|
88,999
|
|
|
$
|
1,440,690
|
|
|
$
|
116,682
|
|
|
$
|
142,685
|
|
|
$
|
2,675,426
|
|
March 31, 2017
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
|
Commercial and Industrial
|
|
Commercial and Industrial
|
|
Commercial Real Estate
|
|
Commercial Real Estate
|
|
Commercial Real Estate
|
|
|
||||||||||||
(in thousands)
|
Other
|
|
Agriculture
|
|
Other
|
|
Agriculture
|
|
Construction
|
|
Total
|
|
|||||||||||
Acquired Loans and Leases
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Internal risk grade:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Pass
|
$
|
78,030
|
|
|
$
|
0
|
|
|
$
|
224,477
|
|
|
$
|
262
|
|
|
$
|
1,548
|
|
|
$
|
304,317
|
|
Special Mention
|
0
|
|
|
0
|
|
|
519
|
|
|
0
|
|
|
0
|
|
|
519
|
|
||||||
Substandard
|
1,326
|
|
|
0
|
|
|
8,302
|
|
|
0
|
|
|
0
|
|
|
9,628
|
|
||||||
Total
|
$
|
79,356
|
|
|
$
|
0
|
|
|
$
|
233,298
|
|
|
$
|
262
|
|
|
$
|
1,548
|
|
|
$
|
314,464
|
|
December 31, 2016
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
|
Commercial and Industrial
|
|
Commercial and Industrial
|
|
Commercial Real Estate
|
|
Commercial Real Estate
|
|
Commercial Real Estate
|
|
|
||||||||||||
(in thousands)
|
Other
|
|
Agriculture
|
|
Other
|
|
Agriculture
|
|
Construction
|
|
Total
|
|
|||||||||||
Originated Loans and Leases
|
|||||||||||||||||||||||
Internal risk grade:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Pass
|
$
|
836,788
|
|
|
$
|
117,135
|
|
|
$
|
1,403,370
|
|
|
$
|
101,407
|
|
|
$
|
135,834
|
|
|
$
|
2,594,534
|
|
Special Mention
|
7,218
|
|
|
755
|
|
|
11,939
|
|
|
573
|
|
|
0
|
|
|
20,485
|
|
||||||
Substandard
|
3,049
|
|
|
357
|
|
|
16,381
|
|
|
529
|
|
|
0
|
|
|
20,316
|
|
||||||
Total
|
$
|
847,055
|
|
|
$
|
118,247
|
|
|
$
|
1,431,690
|
|
|
$
|
102,509
|
|
|
$
|
135,834
|
|
|
$
|
2,635,335
|
|
December 31, 2016
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
|
Commercial and Industrial
|
|
Commercial and Industrial
|
|
Commercial Real Estate
|
|
Commercial Real Estate
|
|
Commercial Real Estate
|
|
|
||||||||||||
(in thousands)
|
Other
|
|
Agriculture
|
|
Other
|
|
Agriculture
|
|
Construction
|
|
Total
|
|
|||||||||||
Acquired Loans and Leases
|
|||||||||||||||||||||||
Internal risk grade:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Pass
|
$
|
77,921
|
|
|
$
|
0
|
|
|
$
|
229,334
|
|
|
$
|
267
|
|
|
$
|
8,936
|
|
|
$
|
316,458
|
|
Special Mention
|
0
|
|
|
0
|
|
|
526
|
|
|
0
|
|
|
0
|
|
|
526
|
|
||||||
Substandard
|
1,396
|
|
|
0
|
|
|
11,745
|
|
|
0
|
|
|
0
|
|
|
13,141
|
|
||||||
Total
|
$
|
79,317
|
|
|
$
|
0
|
|
|
$
|
241,605
|
|
|
$
|
267
|
|
|
$
|
8,936
|
|
|
$
|
330,125
|
|
March 31, 2017
|
|
|
|
|
|
|
|
|
|
||||||||||
(in thousands)
|
Residential
Home Equity
|
|
Residential
Mortgages
|
|
Consumer
Indirect
|
|
Consumer
Other
|
|
Total
|
||||||||||
Originated Loans and Leases
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
Performing
|
$
|
208,473
|
|
|
$
|
963,494
|
|
|
$
|
13,683
|
|
|
$
|
42,755
|
|
|
$
|
1,228,405
|
|
Nonperforming
|
1,267
|
|
|
5,659
|
|
|
170
|
|
|
9
|
|
|
7,105
|
|
|||||
Total
|
$
|
209,740
|
|
|
$
|
969,153
|
|
|
$
|
13,853
|
|
|
$
|
42,764
|
|
|
$
|
1,235,510
|
|
March 31, 2017
|
|
|
|
|
|
|
|
|
|
||||||||||
(in thousands)
|
Residential
Home Equity
|
|
Residential
Mortgages
|
|
Consumer
Indirect
|
|
Consumer
Other
|
|
Total
|
||||||||||
Acquired Loans and Leases
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
Performing
|
$
|
34,292
|
|
|
$
|
22,952
|
|
|
$
|
0
|
|
|
$
|
801
|
|
|
$
|
58,045
|
|
Nonperforming
|
999
|
|
|
1,872
|
|
|
0
|
|
|
0
|
|
|
2,871
|
|
|||||
Total
|
$
|
35,291
|
|
|
$
|
24,824
|
|
|
$
|
0
|
|
|
$
|
801
|
|
|
$
|
60,916
|
|
December 31, 2016
|
|||||||||||||||||||
(in thousands)
|
Residential
Home Equity
|
|
Residential
Mortgages
|
|
Consumer
Indirect
|
|
Consumer
Other
|
|
Total
|
||||||||||
Originated Loans and Leases
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
Performing
|
$
|
207,261
|
|
|
$
|
941,936
|
|
|
$
|
14,669
|
|
|
$
|
44,393
|
|
|
$
|
1,208,259
|
|
Nonperforming
|
2,016
|
|
|
5,442
|
|
|
166
|
|
|
0
|
|
|
7,624
|
|
|||||
Total
|
$
|
209,277
|
|
|
$
|
947,378
|
|
|
$
|
14,835
|
|
|
$
|
44,393
|
|
|
$
|
1,215,883
|
|
December 31, 2016
|
|||||||||||||||||||
(in thousands)
|
Residential
Home Equity
|
|
Residential
Mortgages
|
|
Consumer
Indirect
|
|
Consumer
Other
|
|
Total
|
||||||||||
Acquired Loans and Leases
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
Performing
|
$
|
37,074
|
|
|
$
|
24,483
|
|
|
$
|
0
|
|
|
$
|
826
|
|
|
$
|
62,383
|
|
Nonperforming
|
663
|
|
|
940
|
|
|
0
|
|
|
0
|
|
|
1,603
|
|
|||||
Total
|
$
|
37,737
|
|
|
$
|
25,423
|
|
|
$
|
0
|
|
|
$
|
826
|
|
|
$
|
63,986
|
|
|
Three Months Ended
|
||||||
(in thousands, except share and per share data)
|
3/31/2017
|
|
3/31/2016
|
||||
Basic
|
|
|
|
|
|
||
Net income available to common shareholders
|
$
|
15,717
|
|
|
$
|
14,251
|
|
Less: Income attributable to unvested stock-based compensation awards
|
(261
|
)
|
|
(230
|
)
|
||
Net earnings allocated to common shareholders
|
15,456
|
|
|
14,021
|
|
||
|
|
|
|
||||
Weighted average shares outstanding, including unvested stock-based compensation awards
|
15,151,521
|
|
|
15,002,332
|
|
||
|
|
|
|
||||
Less: unvested stock-based compensation awards
|
(250,583
|
)
|
|
(242,056
|
)
|
||
Weighted average shares outstanding - Basic
|
14,900,938
|
|
|
14,760,276
|
|
||
|
|
|
|
||||
Diluted
|
|
|
|
|
|
||
Net earnings allocated to common shareholders
|
15,456
|
|
|
14,021
|
|
||
|
|
|
|
||||
Weighted average shares outstanding - Basic
|
14,900,938
|
|
|
14,760,276
|
|
||
|
|
|
|
||||
Plus: incremental shares from assumed conversion of stock--based compensation awards
|
141,676
|
|
|
87,340
|
|
||
|
|
|
|
||||
Weighted average shares outstanding - Diluted
|
15,042,614
|
|
|
14,847,616
|
|
||
|
|
|
|
||||
Basic EPS
|
1.04
|
|
|
0.95
|
|
||
Diluted EPS
|
1.03
|
|
|
0.94
|
|
|
Three Months Ended March 31, 2017
|
||||||||||
(in thousands)
|
Before-Tax
Amount
|
|
Tax (Expense)
Benefit
|
|
Net of Tax
|
||||||
Available-for-sale securities:
|
|
|
|
|
|
|
|
|
|||
Change in net unrealized gain/loss during the period
|
$
|
1,995
|
|
|
$
|
(798
|
)
|
|
$
|
1,197
|
|
Reclassification adjustment for net realized gain on sale of available-for-sale securities included in net income
|
0
|
|
|
0
|
|
|
0
|
|
|||
Net unrealized gains
|
1,995
|
|
|
(798
|
)
|
|
1,197
|
|
|||
|
|
|
|
|
|
||||||
Employee benefit plans:
|
|
|
|
|
|
|
|
|
|||
Amortization of net retirement plan actuarial gain
|
357
|
|
|
(143
|
)
|
|
214
|
|
|||
Amortization of net retirement plan prior service cost
|
23
|
|
|
(9
|
)
|
|
14
|
|
|||
Employee benefit plans
|
380
|
|
|
(152
|
)
|
|
228
|
|
|||
Other comprehensive income
|
$
|
2,375
|
|
|
$
|
(950
|
)
|
|
$
|
1,425
|
|
|
Three Months Ended March 31, 2016
|
||||||||||
(in thousands)
|
Before-Tax
Amount
|
|
Tax (Expense)
Benefit
|
|
Net of Tax
|
||||||
Available-for-sale securities:
|
|
|
|
|
|
|
|
|
|||
Change in net unrealized gain/loss during the period
|
$
|
20,955
|
|
|
$
|
(8,380
|
)
|
|
$
|
12,575
|
|
Reclassification adjustment for net realized gain on sale of available-for-sale securities included in net income
|
(232
|
)
|
|
93
|
|
|
(139
|
)
|
|||
Net unrealized gains
|
20,723
|
|
|
(8,287
|
)
|
|
12,436
|
|
|||
|
|
|
|
|
|
||||||
Employee benefit plans:
|
|
|
|
|
|
|
|
|
|||
Amortization of net retirement plan actuarial gain
|
343
|
|
|
(137
|
)
|
|
206
|
|
|||
Amortization of net retirement plan prior service cost
|
30
|
|
|
(12
|
)
|
|
18
|
|
|||
Employee benefit plans
|
373
|
|
|
(149
|
)
|
|
224
|
|
|||
Other comprehensive income
|
$
|
21,096
|
|
|
$
|
(8,436
|
)
|
|
$
|
12,660
|
|
(in thousands)
|
Available-for-
Sale Securities
|
|
Employee
Benefit Plans
|
|
Accumulated
Other
Comprehensive
(Loss) Income
|
||||||
Balance at January 1, 2017
|
$
|
(7,915
|
)
|
|
$
|
(29,194
|
)
|
|
$
|
(37,109
|
)
|
Other comprehensive income before reclassifications
|
1,197
|
|
|
0
|
|
|
1,197
|
|
|||
Amounts reclassified from accumulated other comprehensive (loss) income
|
0
|
|
|
228
|
|
|
228
|
|
|||
Net current-period other comprehensive income
|
1,197
|
|
|
228
|
|
|
1,425
|
|
|||
Balance at March 31, 2017
|
$
|
(6,718
|
)
|
|
$
|
(28,966
|
)
|
|
$
|
(35,684
|
)
|
|
|
|
|
|
|
||||||
Balance at January 1, 2016
|
$
|
(2,744
|
)
|
|
$
|
(28,257
|
)
|
|
$
|
(31,001
|
)
|
Other comprehensive income before reclassifications
|
12,575
|
|
|
0
|
|
|
12,575
|
|
|||
Amounts reclassified from accumulated other comprehensive (loss) income
|
(139
|
)
|
|
224
|
|
|
85
|
|
|||
Net current-period other comprehensive income
|
12,436
|
|
|
224
|
|
|
12,660
|
|
|||
Balance at March 31, 2016
|
$
|
9,692
|
|
|
$
|
(28,033
|
)
|
|
$
|
(18,341
|
)
|
Three months ended March 31, 2017
|
|
|
|
||
Details about Accumulated other Comprehensive Income
Components (in thousands)
|
Amount
Reclassified from
Accumulated
Other
Comprehensive
(Loss) Income
1
|
|
Affected Line Item in the
Statement Where Net Income is
Presented
|
||
Available-for-sale securities:
|
|
|
|
|
|
Unrealized gains and losses on available-for-sale securities
|
$
|
0
|
|
|
Net gain on securities transactions
|
|
0
|
|
|
Tax expense
|
|
|
0
|
|
|
Net of tax
|
|
Employee benefit plans:
|
|
|
|
|
|
Amortization of the following
2
|
|
|
|
|
|
Net retirement plan actuarial gain
|
(357
|
)
|
|
Pension and other employee benefits
|
|
Net retirement plan prior service cost
|
(23
|
)
|
|
Pension and other employee benefits
|
|
|
(380
|
)
|
|
Total before tax
|
|
|
152
|
|
|
Tax benefit
|
|
|
(228
|
)
|
|
Net of tax
|
Three Months Ended March 31, 2016
|
|
|
|
||
Details about Accumulated other Comprehensive Income Components (in thousands)
|
Amount
Reclassified from
Accumulated
Other
Comprehensive
(Loss) Income
1
|
|
Affected Line Item in the
Statement Where Net Income is
Presented
|
||
Available-for-sale securities:
|
|
|
|
||
Unrealized gains and losses on available-for-sale securities
|
$
|
232
|
|
|
Net gain on securities transactions
|
|
(93
|
)
|
|
Tax expense
|
|
|
139
|
|
|
Net of tax
|
|
Employee benefit plans:
|
|
|
|
||
Amortization of the following
2
|
|
|
|
||
Net retirement plan actuarial gain
|
(343
|
)
|
|
Pension and other employee benefits
|
|
Net retirement plan prior service credit
|
(30
|
)
|
|
Pension and other employee benefits
|
|
|
(373
|
)
|
|
Total before tax
|
|
|
149
|
|
|
Tax benefit
|
|
|
(224
|
)
|
|
Net of tax
|
|
Pension Benefits
Three Months Ended
|
|
Life and Health
Three Months Ended
|
|
SERP Benefits
Three Months Ended
|
||||||||||||||||||
(in thousands)
|
3/31/2017
|
|
|
3/31/2016
|
|
|
3/31/2017
|
|
|
3/31/2016
|
|
|
3/31/2017
|
|
|
3/31/2016
|
|
||||||
Service cost
|
$
|
0
|
|
|
$
|
0
|
|
|
$
|
68
|
|
|
$
|
82
|
|
|
$
|
54
|
|
|
$
|
72
|
|
Interest cost
|
607
|
|
|
649
|
|
|
71
|
|
|
77
|
|
|
209
|
|
|
211
|
|
||||||
Expected return on plan assets
|
(1,267
|
)
|
|
(1,215
|
)
|
|
0
|
|
|
0
|
|
|
0
|
|
|
0
|
|
||||||
Amortization of net retirement plan actuarial loss
|
252
|
|
|
239
|
|
|
4
|
|
|
1
|
|
|
101
|
|
|
104
|
|
||||||
Amortization of net retirement plan prior service (credit) cost
|
(3
|
)
|
|
(4
|
)
|
|
4
|
|
|
4
|
|
|
22
|
|
|
30
|
|
||||||
Net periodic benefit (income) cost
|
$
|
(411
|
)
|
|
$
|
(331
|
)
|
|
$
|
147
|
|
|
$
|
164
|
|
|
$
|
386
|
|
|
$
|
417
|
|
|
Three Months Ended
|
||||||
(in thousands)
|
3/31/2017
|
|
|
3/31/2016
|
|
||
Noninterest Income
|
|
|
|
|
|
||
Other service charges
|
$
|
820
|
|
|
$
|
750
|
|
Increase in cash surrender value of corporate owned life insurance
|
630
|
|
|
616
|
|
||
Net gain on sale of loans
|
13
|
|
|
23
|
|
||
Other income
|
692
|
|
|
318
|
|
||
Total other income
|
$
|
2,155
|
|
|
$
|
1,707
|
|
Noninterest Expenses
|
|
|
|
|
|
||
Marketing expense
|
$
|
1,174
|
|
|
$
|
902
|
|
Professional fees
|
1,362
|
|
|
1,343
|
|
||
Legal fees
|
264
|
|
|
348
|
|
||
Technology expense
|
1,891
|
|
|
1,348
|
|
||
Cardholder expense
|
1,182
|
|
|
745
|
|
||
Other expenses
|
4,084
|
|
|
4,362
|
|
||
Total other operating expense
|
$
|
9,957
|
|
|
$
|
9,048
|
|
As of and for the three months ended March 31, 2017
|
|||||||||||||||||||
(in thousands)
|
Banking
|
|
Insurance
|
|
Wealth Management
|
|
Intercompany
|
|
Consolidated
|
||||||||||
Interest income
|
$
|
53,621
|
|
|
$
|
0
|
|
|
$
|
0
|
|
|
$
|
0
|
|
|
$
|
53,621
|
|
Interest expense
|
5,587
|
|
|
0
|
|
|
0
|
|
|
0
|
|
|
5,587
|
|
|||||
Net interest income
|
48,034
|
|
|
0
|
|
|
0
|
|
|
0
|
|
|
48,034
|
|
|||||
Provision for loan and lease losses
|
769
|
|
|
0
|
|
|
0
|
|
|
0
|
|
|
769
|
|
|||||
Noninterest income
|
6,403
|
|
|
7,316
|
|
|
3,910
|
|
|
(389
|
)
|
|
17,240
|
|
|||||
Noninterest expense
|
32,488
|
|
|
6,080
|
|
|
3,189
|
|
|
(389
|
)
|
|
41,368
|
|
|||||
Income before income tax expense
|
21,180
|
|
|
1,236
|
|
|
721
|
|
|
0
|
|
|
23,137
|
|
|||||
Income tax expense
|
6,672
|
|
|
474
|
|
|
242
|
|
|
0
|
|
|
7,388
|
|
|||||
Net Income attributable to noncontrolling interests and Tompkins Financial Corporation
|
14,508
|
|
|
762
|
|
|
479
|
|
|
0
|
|
|
15,749
|
|
|||||
Less: Net income attributable to noncontrolling interests
|
32
|
|
|
0
|
|
|
0
|
|
|
0
|
|
|
32
|
|
|||||
Net Income attributable to Tompkins Financial Corporation
|
$
|
14,476
|
|
|
$
|
762
|
|
|
$
|
479
|
|
|
$
|
0
|
|
|
$
|
15,717
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Depreciation and amortization
|
$
|
1,691
|
|
|
$
|
82
|
|
|
$
|
14
|
|
|
$
|
0
|
|
|
$
|
1,787
|
|
Assets
|
6,235,516
|
|
|
39,915
|
|
|
14,678
|
|
|
(10,062
|
)
|
|
6,280,047
|
|
|||||
Goodwill
|
64,370
|
|
|
19,710
|
|
|
8,211
|
|
|
0
|
|
|
92,291
|
|
|||||
Other intangibles, net
|
6,107
|
|
|
4,324
|
|
|
336
|
|
|
0
|
|
|
10,767
|
|
|||||
Net loans and leases
|
4,261,627
|
|
|
0
|
|
|
0
|
|
|
0
|
|
|
4,261,627
|
|
|||||
Deposits
|
4,860,625
|
|
|
0
|
|
|
0
|
|
|
(10,040
|
)
|
|
4,850,585
|
|
|||||
Total Equity
|
519,723
|
|
|
31,148
|
|
|
12,647
|
|
|
0
|
|
|
563,518
|
|
As of and for the three months ended March 31, 2016
|
|||||||||||||||||||
(in thousands)
|
Banking
|
|
Insurance
|
|
Wealth
Management
|
|
Intercompany
|
|
Consolidated
|
||||||||||
Interest income
|
$
|
49,309
|
|
|
$
|
0
|
|
|
$
|
0
|
|
|
$
|
0
|
|
|
$
|
49,309
|
|
Interest expense
|
5,271
|
|
|
0
|
|
|
0
|
|
|
0
|
|
|
5,271
|
|
|||||
Net interest income
|
44,038
|
|
|
0
|
|
|
0
|
|
|
0
|
|
|
44,038
|
|
|||||
Provision for loan and lease losses
|
855
|
|
|
0
|
|
|
0
|
|
|
0
|
|
|
855
|
|
|||||
Noninterest income
|
6,272
|
|
|
7,599
|
|
|
3,910
|
|
|
(278
|
)
|
|
17,503
|
|
|||||
Noninterest expense
|
30,374
|
|
|
6,339
|
|
|
3,071
|
|
|
(278
|
)
|
|
39,506
|
|
|||||
Income before income tax expense
|
19,081
|
|
|
1,260
|
|
|
839
|
|
|
0
|
|
|
21,180
|
|
|||||
Income tax expense
|
6,123
|
|
|
502
|
|
|
271
|
|
|
0
|
|
|
6,896
|
|
|||||
Net Income attributable to noncontrolling interests and Tompkins Financial Corporation
|
12,958
|
|
|
758
|
|
|
568
|
|
|
0
|
|
|
14,284
|
|
|||||
Less: Net income attributable to noncontrolling interests
|
33
|
|
|
0
|
|
|
0
|
|
|
0
|
|
|
33
|
|
|||||
Net Income attributable to Tompkins Financial Corporation
|
$
|
12,925
|
|
|
$
|
758
|
|
|
$
|
568
|
|
|
$
|
0
|
|
|
$
|
14,251
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Depreciation and amortization
|
$
|
1,575
|
|
|
$
|
91
|
|
|
$
|
19
|
|
|
$
|
0
|
|
|
$
|
1,685
|
|
Assets
|
5,719,963
|
|
|
39,825
|
|
|
14,088
|
|
|
(8,905
|
)
|
|
5,764,971
|
|
|||||
Goodwill
|
64,370
|
|
|
20,036
|
|
|
8,211
|
|
|
0
|
|
|
92,617
|
|
|||||
Other intangibles, net
|
7,472
|
|
|
5,344
|
|
|
417
|
|
|
0
|
|
|
13,233
|
|
|||||
Net loans and leases
|
3,788,383
|
|
|
0
|
|
|
0
|
|
|
0
|
|
|
3,788,383
|
|
|||||
Deposits
|
4,563,951
|
|
|
0
|
|
|
0
|
|
|
(8,723
|
)
|
|
4,555,228
|
|
|||||
Total Equity
|
497,519
|
|
|
30,757
|
|
|
11,617
|
|
|
0
|
|
|
539,893
|
|
Recurring Fair Value Measurements
|
|
|
|
|
|
|
|
||||||||
March 31, 2017
|
|
|
|
|
|
|
|
||||||||
(in thousands)
|
Total
|
|
(Level 1)
|
|
|
(Level 2)
|
|
|
(Level 3)
|
|
|||||
Available-for-sale securities
|
|
|
|
|
|
|
|
||||||||
Obligations of U.S. Government sponsored entities
|
$
|
527,975
|
|
|
$
|
0
|
|
|
$
|
527,975
|
|
|
$
|
0
|
|
Obligations of U.S. states and political subdivisions
|
92,557
|
|
|
0
|
|
|
92,557
|
|
|
0
|
|
||||
Mortgage-backed securities – residential, issued by:
|
|
|
|
|
|
|
|
||||||||
U.S. Government agencies
|
154,133
|
|
|
0
|
|
|
154,133
|
|
|
0
|
|
||||
U.S. Government sponsored entities
|
649,673
|
|
|
0
|
|
|
649,673
|
|
|
0
|
|
||||
Non-U.S. Government agencies or sponsored entities
|
106
|
|
|
0
|
|
|
106
|
|
|
0
|
|
||||
U.S. corporate debt securities
|
2,162
|
|
|
0
|
|
|
2,162
|
|
|
0
|
|
||||
Equity securities
|
917
|
|
|
0
|
|
|
0
|
|
|
917
|
|
Recurring Fair Value Measurements
|
|
|
|
|
|
|
|
||||
December 31, 2016
|
|
|
|
|
|
|
|
||||
(in thousands)
|
Total
|
|
(Level 1)
|
|
|
(Level 2)
|
|
|
(Level 3)
|
|
|
Available-for-sale securities
|
|
|
|
|
|
|
|
|
|
|
|
Obligations of U.S. Government sponsored entities
|
527,627
|
|
|
0
|
|
|
527,627
|
|
|
0
|
|
Obligations of U.S. states and political subdivisions
|
89,056
|
|
|
0
|
|
|
89,056
|
|
|
0
|
|
Mortgage-backed securities – residential, issued by:
|
|
|
|
|
|
|
|
|
|
|
|
U.S. Government agencies
|
158,226
|
|
|
0
|
|
|
158,226
|
|
|
0
|
|
U.S. Government sponsored entities
|
651,430
|
|
|
0
|
|
|
651,430
|
|
|
0
|
|
Non-U.S. Government agencies or sponsored entities
|
116
|
|
|
0
|
|
|
116
|
|
|
0
|
|
U.S. corporate debt securities
|
2,162
|
|
|
0
|
|
|
2,162
|
|
|
0
|
|
Equity securities
|
921
|
|
|
0
|
|
|
0
|
|
|
921
|
|
|
|
|
|
|
|
|
|
Available-for-Sale Securities
|
|
|
|
||||||||||||
|
3/31/2017
|
|
12/31/2016
|
||||||||||||
(in thousands)
|
Amortized Cost
|
|
Fair Value
|
|
Amortized Cost
|
|
Fair Value
|
||||||||
Obligations of U.S. Government sponsored entities
|
$
|
527,190
|
|
|
$
|
527,975
|
|
|
$
|
527,057
|
|
|
$
|
527,627
|
|
Obligations of U.S. states and political subdivisions
|
92,877
|
|
|
92,557
|
|
|
89,910
|
|
|
89,056
|
|
||||
Mortgage-backed securities - residential, issued by
|
|
|
|
|
|
|
|
|
|
|
|
||||
U.S. Government agencies
|
155,224
|
|
|
154,133
|
|
|
159,417
|
|
|
158,226
|
|
||||
U.S. Government sponsored entities
|
659,819
|
|
|
649,673
|
|
|
662,724
|
|
|
651,430
|
|
||||
Non-U.S. Government agencies or sponsored entities
|
106
|
|
|
106
|
|
|
116
|
|
|
116
|
|
||||
U.S. corporate debt securities
|
2,500
|
|
|
2,162
|
|
|
2,500
|
|
|
2,162
|
|
||||
Total debt securities
|
1,437,716
|
|
|
1,426,606
|
|
|
1,441,724
|
|
|
1,428,617
|
|
||||
Equity securities
|
1,000
|
|
|
917
|
|
|
1,000
|
|
|
921
|
|
||||
Total available-for-sale securities
|
$
|
1,438,716
|
|
|
$
|
1,427,523
|
|
|
$
|
1,442,724
|
|
|
$
|
1,429,538
|
|
Held-to-Maturity Securities
|
|
|
|
|
|
|
|
|
|
|
|
||||
|
3/31/2017
|
|
12/31/2016
|
||||||||||||
(in thousands)
|
Amortized Cost
|
|
Fair Value
|
|
Amortized Cost
|
|
Fair Value
|
||||||||
Obligations of U.S. Government sponsored entities
|
$
|
132,001
|
|
|
$
|
132,756
|
|
|
$
|
132,098
|
|
|
$
|
132,619
|
|
Obligations of U.S. states and political subdivisions
|
$
|
9,544
|
|
|
$
|
9,689
|
|
|
$
|
10,021
|
|
|
$
|
10,213
|
|
Total held-to-maturity debt securities
|
$
|
141,545
|
|
|
$
|
142,445
|
|
|
$
|
142,119
|
|
|
$
|
142,832
|
|
Loans and Leases
|
|||||||||||||||||||||||
Loans and leases at March 31, 2017 and December 31, 2016 were as follows:
|
|||||||||||||||||||||||
|
3/31/2017
|
|
12/31/2016
|
||||||||||||||||||||
(in thousands)
|
Originated
|
|
Acquired
|
|
Total
Loans and
Leases
|
|
Originated
|
|
|
Acquired
|
|
|
Total Loans
and Leases
|
|
|||||||||
Commercial and industrial
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Agriculture
|
$
|
88,999
|
|
|
$
|
0
|
|
|
$
|
88,999
|
|
|
$
|
118,247
|
|
|
$
|
0
|
|
|
$
|
118,247
|
|
Commercial and industrial other
|
886,370
|
|
|
79,356
|
|
|
965,726
|
|
|
847,055
|
|
|
79,317
|
|
|
926,372
|
|
||||||
Subtotal commercial and industrial
|
975,369
|
|
|
79,356
|
|
|
1,054,725
|
|
|
965,302
|
|
|
79,317
|
|
|
1,044,619
|
|
||||||
Commercial real estate
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Construction
|
142,685
|
|
|
1,548
|
|
|
144,233
|
|
|
135,834
|
|
|
8,936
|
|
|
144,770
|
|
||||||
Agriculture
|
116,682
|
|
|
262
|
|
|
116,944
|
|
|
102,509
|
|
|
267
|
|
|
102,776
|
|
||||||
Commercial real estate other
|
1,440,690
|
|
|
233,298
|
|
|
1,673,988
|
|
|
1,431,690
|
|
|
241,605
|
|
|
1,673,295
|
|
||||||
Subtotal commercial real estate
|
1,700,057
|
|
|
235,108
|
|
|
1,935,165
|
|
|
1,670,033
|
|
|
250,808
|
|
|
1,920,841
|
|
||||||
Residential real estate
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Home equity
|
209,740
|
|
|
35,291
|
|
|
245,031
|
|
|
209,277
|
|
|
37,737
|
|
|
247,014
|
|
||||||
Mortgages
|
969,153
|
|
|
24,824
|
|
|
993,977
|
|
|
947,378
|
|
|
25,423
|
|
|
972,801
|
|
||||||
Subtotal residential real estate
|
1,178,893
|
|
|
60,115
|
|
|
1,239,008
|
|
|
1,156,655
|
|
|
63,160
|
|
|
1,219,815
|
|
||||||
Consumer and other
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Indirect
|
13,853
|
|
|
0
|
|
|
13,853
|
|
|
14,835
|
|
|
0
|
|
|
14,835
|
|
||||||
Consumer and other
|
42,764
|
|
|
801
|
|
|
43,565
|
|
|
44,393
|
|
|
826
|
|
|
45,219
|
|
||||||
Subtotal consumer and other
|
56,617
|
|
|
801
|
|
|
57,418
|
|
|
59,228
|
|
|
826
|
|
|
60,054
|
|
||||||
Leases
|
15,615
|
|
|
0
|
|
|
15,615
|
|
|
16,650
|
|
|
0
|
|
|
16,650
|
|
||||||
Covered loans
|
0
|
|
|
0
|
|
|
0
|
|
|
0
|
|
|
0
|
|
|
0
|
|
||||||
Total loans and leases
|
3,926,551
|
|
|
375,380
|
|
|
4,301,931
|
|
|
3,867,868
|
|
|
394,111
|
|
|
4,261,979
|
|
||||||
Less: unearned income and deferred costs and fees
|
(4,138
|
)
|
|
0
|
|
|
(4,138
|
)
|
|
(3,946
|
)
|
|
0
|
|
|
(3,946
|
)
|
||||||
Total loans and leases, net of unearned income and deferred
costs and fees
|
$
|
3,922,413
|
|
|
$
|
375,380
|
|
|
$
|
4,297,793
|
|
|
$
|
3,863,922
|
|
|
$
|
394,111
|
|
|
$
|
4,258,033
|
|
(in thousands)
|
3/31/2017
|
|
12/31/2016
|
|
3/31/2016
|
||||||
Allowance for originated loans and leases
|
|
|
|
|
|
|
|
|
|||
Commercial and industrial
|
$
|
10,273
|
|
|
$
|
9,389
|
|
|
$
|
9,291
|
|
Commercial real estate
|
19,114
|
|
|
19,836
|
|
|
17,108
|
|
|||
Residential real estate
|
5,386
|
|
|
5,149
|
|
|
4,275
|
|
|||
Consumer and other
|
1,142
|
|
|
1,224
|
|
|
1,307
|
|
|||
Total
|
$
|
35,915
|
|
|
$
|
35,598
|
|
|
$
|
31,981
|
|
(in thousands)
|
3/31/2017
|
|
|
12/31/2016
|
|
|
3/31/2016
|
|
|||
Allowance for acquired loans
|
|
|
|
|
|
|
|
|
|||
Commercial and industrial
|
$
|
0
|
|
|
$
|
0
|
|
|
$
|
433
|
|
Commercial real estate
|
76
|
|
|
97
|
|
|
33
|
|
|||
Residential real estate
|
169
|
|
|
54
|
|
|
59
|
|
|||
Consumer and other
|
6
|
|
|
6
|
|
|
24
|
|
|||
Total
|
$
|
251
|
|
|
$
|
157
|
|
|
$
|
549
|
|
Analysis of the Allowance for Acquired Loan Losses
|
|||||||
(in thousands)
|
3/31/2017
|
|
|
3/31/2016
|
|
||
Average acquired loans outstanding during period
|
$
|
383,537
|
|
|
$
|
455,687
|
|
Balance of acquired allowance at beginning of year
|
157
|
|
|
692
|
|
||
ACQUIRED LOANS CHARGED-OFF:
|
|
|
|
|
|
||
Commercial and industrial
|
9
|
|
|
63
|
|
||
Commercial real estate
|
74
|
|
|
0
|
|
||
Residential real estate
|
0
|
|
|
16
|
|
||
Consumer and other
|
0
|
|
|
93
|
|
||
Total loans charged-off
|
$
|
83
|
|
|
$
|
172
|
|
Commercial and industrial
|
0
|
|
|
0
|
|
||
Commercial real estate
|
10
|
|
|
46
|
|
||
Residential real estate
|
0
|
|
|
0
|
|
||
Total loans recovered
|
$
|
10
|
|
|
$
|
46
|
|
Net loans charged-off
|
73
|
|
|
126
|
|
||
Additions to acquired allowance charged to operations
|
167
|
|
|
(17
|
)
|
||
Balance of acquired allowance at end of period
|
$
|
251
|
|
|
$
|
549
|
|
Allowance for acquired loans as a percentage of acquired loans outstanding acquired loans and leases
|
0.07
|
%
|
|
0.12
|
%
|
||
Annualized net charge-offs on acquired loans as a percentage of average acquired loans and leases outstanding during the period
|
0.08
|
%
|
|
0.11
|
%
|
||
Annualized total net charge-offs as a percentage of average loans and leases outstanding during the period
|
0.03
|
%
|
|
0.03
|
%
|
Analysis of Past Due and Nonperforming Loans
|
|
|
|
|
|
|
|
|
|||
(in thousands)
|
3/31/2017
|
|
|
12/31/2016
|
|
|
3/31/2016
|
|
|||
Loans 90 days past due and accruing
|
$
|
0
|
|
|
$
|
0
|
|
|
$
|
57
|
|
Total loans 90 days past due and accruing
|
0
|
|
|
0
|
|
|
57
|
|
|||
Nonaccrual loans
|
|
|
|
|
|
||||||
Commercial and industrial
|
570
|
|
|
738
|
|
|
1,141
|
|
|||
Commercial real estate
|
7,319
|
|
|
9,076
|
|
|
6,723
|
|
|||
Residential real estate
|
9,074
|
|
|
9,061
|
|
|
8,788
|
|
|||
Consumer and other
|
179
|
|
|
166
|
|
|
164
|
|
|||
Total nonaccrual loans
|
17,142
|
|
|
19,041
|
|
|
16,816
|
|
|||
Troubled debt restructurings not included above
|
2,948
|
|
|
2,631
|
|
|
3,862
|
|
|||
Total nonperforming loans and leases
|
20,090
|
|
|
21,672
|
|
|
20,735
|
|
|||
Other real estate owned
|
2,520
|
|
|
908
|
|
|
1,865
|
|
|||
Total nonperforming assets
|
$
|
22,610
|
|
|
$
|
22,580
|
|
|
$
|
22,600
|
|
Allowance as a percentage of nonperforming loans and leases
|
180.02
|
%
|
|
164.98
|
%
|
|
156.88
|
%
|
|||
Total nonperforming loans and leases as percentage of total loans and leases
|
0.47
|
%
|
|
0.51
|
%
|
|
0.54
|
%
|
|||
Total nonperforming assets as percentage of total assets
|
0.36
|
%
|
|
0.36
|
%
|
|
0.39
|
%
|
REGULATORY CAPITAL ANALYSIS
|
|||||||||||||
March 31, 2017
|
Actual
|
|
Well Capitalized Requirement
|
||||||||||
(dollar amounts in thousands)
|
Amount
|
|
Ratio
|
|
Amount
|
|
Ratio
|
||||||
Total Capital (to risk weighted assets)
|
$
|
551,907
|
|
|
12.41
|
%
|
|
$
|
444,575
|
|
|
10.00
|
%
|
Tier 1 Capital (to risk weighted assets)
|
$
|
513,910
|
|
|
11.56
|
%
|
|
$
|
355,660
|
|
|
8.00
|
%
|
Tier 1 Common Equity (to risk weighted assets)
|
$
|
497,348
|
|
|
11.19
|
%
|
|
$
|
288,974
|
|
|
6.50
|
%
|
Tier 1 Capital (to average assets)
|
$
|
513,910
|
|
|
8.36
|
%
|
|
$
|
307,418
|
|
|
5.00
|
%
|
Item 3.
|
Quantitative and Qualitative Disclosure About Market Risk
|
Condensed Static Gap – March 31, 2017
|
|
|
|
|
Repricing Interval
|
|
|
||||||||||||
(in thousands)
|
Total
|
|
0-3 months
|
|
3-6 months
|
|
6-12 months
|
|
Cumulative 12 months
|
||||||||||
|
|
|
|
|
|
|
|
|
|
||||||||||
Interest-earning assets
1
|
$
|
5,915,026
|
|
|
$
|
1,160,445
|
|
|
$
|
272,917
|
|
|
$
|
456,153
|
|
|
$
|
1,889,515
|
|
Interest-bearing liabilities
|
4,435,911
|
|
|
1,975,798
|
|
|
196,481
|
|
|
289,250
|
|
|
2,461,529
|
|
|||||
Net gap position
|
|
|
|
(815,353
|
)
|
|
76,436
|
|
|
166,903
|
|
|
(572,014
|
)
|
|||||
Net gap position as a percentage of total assets
|
|
|
|
(12.98
|
)%
|
|
1.22
|
%
|
|
2.66
|
%
|
|
(9.11
|
)%
|
Item 4.
|
Controls and Procedures
|
Item 1.
|
Legal Proceedings
|
Item 1A.
|
Risk Factors
|
Item 2.
|
Unregistered Sales of Equity Securities and Use of Proceeds
|
|
Total Number of Shares Purchased (a)
|
|
|
Average Price Paid Per Share (b)
|
|
|
Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs (c)
|
|
|
Maximum Number of Shares that May Yet Be Purchased Under the Plans or Programs (d)
|
|
|
|
|
|
|
|
|
|
|
|||||
January 1, 2017 through January 31, 2017
|
1,200
|
|
|
$
|
94.58
|
|
|
0
|
|
|
400,000
|
|
|
|
|
|
|
|
|
|
|||||
February 1, 2017 through February 28, 2017
|
1,010
|
|
|
88.39
|
|
|
0
|
|
|
400,000
|
|
|
|
|
|
|
|
|
|
|
|||||
March 1, 2017 through March 31, 2017
|
0
|
|
|
0
|
|
|
0
|
|
|
400,000
|
|
|
|
|
|
|
|
|
|
|
|||||
Total
|
2,210
|
|
|
$
|
91.75
|
|
|
0
|
|
|
400,000
|
|
Item 3.
|
Defaults Upon Senior Securities
|
Item 4.
|
Mine Safety Disclosures
|
Item 5.
|
Other Information
|
Item 6.
|
Exhibits
|
Date:
|
May 10, 2017
|
By:
|
/S/ Stephen S. Romaine
|
|
|
Stephen S. Romaine
|
|
|
President and Chief Executive Officer
|
|
|
(Principal Executive Officer)
|
|
By:
|
/S/ Francis M. Fetsko
|
|
|
Francis M. Fetsko
|
|
|
Executive Vice President, Chief Financial Officer, and Chief Operating Officer
|
|
|
(Principal Financial Officer)
|
|
|
(Principal Accounting Officer)
|
|
Exhibit Number
|
Description
|
Pages
|
|
|
|
10.1*
|
Amendment No. 1 to the 2009 Equity Plan, incorporated herein by reference to Appendix A to the Company's Proxy Statement for the 2016 Annual Meeting of Shareholders, filed with the Commission on April 1, 2016.
|
|
|
|
|
31.1
|
Certification of Principal Executive Officer as required by Rule 13a-14(a) of the Securities Exchange Act of 1934, as amended.
|
|
|
|
|
31.2
|
Certification of Principal Financial Officer as required by Rule 13a-14(a) of the Securities Exchange Act of 1934, as amended.
|
|
|
|
|
32.1
|
Certification of Principal Executive Officer as required by Rule 13a-14(b) of the Securities Exchange Act of 1934, as amended, 18 U.S.C. Section 1350
|
|
|
|
|
32.2
|
Certification of Principal Financial Officer as required by Rule 13a-14(b) of the Securities Exchange Act of 1934, as amended, 18 U.S.C. Section 1350
|
|
|
|
|
101
|
The following materials from the Company’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2017, formatted in XBRL (eXtensible Business Reporting Language): (i) Condensed Consolidated Statements of Condition as of March 31, 2017 and December 31, 2016; (ii) Condensed Consolidated Statements of Income for the three months ended March 31, 2017 and 2016; (iii) Condensed Consolidated Statements of Comprehensive Income for the three months ended March 31, 2017 and 2016; (iv) Condensed Consolidated Statements of Cash Flows for the three months ended March 31, 2017 and 2016; (v) Condensed Consolidated Statements of Changes in Shareholders’ Equity for the three months ended March 31, 2017 and 2016; and (vi) Notes to Unaudited Condensed Consolidated Financial Statements.
|
|
1 Year Tompkins Financial Chart |
1 Month Tompkins Financial Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions