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Maryland
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43-1524856
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(State or other jurisdiction of incorporation
or organization)
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(IRS Employer Identification Number)
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1451 E. Battlefield, Springfield, Missouri
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65804
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(Address of principal executive offices)
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(Zip Code)
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(417) 887-4400
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Large accelerated filer / /
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Accelerated filer /X/
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Non-accelerated filer / /
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Smaller reporting company / /
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(Do not check if a smaller
reporting company)
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JUNE 30,
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DECEMBER 31,
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|||||||
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2013
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2012
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|||||||
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(Unaudited)
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ASSETS
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||||||||
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Cash
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$ | 92,035 | $ | 107,949 | ||||
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Interest-bearing deposits in other financial institutions
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281,275 | 295,855 | ||||||
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Federal funds sold
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— | 337 | ||||||
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Cash and cash equivalents
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373,310 | 404,141 | ||||||
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Available-for-sale securities
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744,439 | 807,010 | ||||||
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Held-to-maturity securities (fair value $918 – June 2013;
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$1,084 - December 2012)
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805 | 920 | ||||||
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Mortgage loans held for sale
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22,679 | 26,829 | ||||||
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Loans receivable, net of allowance for loan losses of
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||||||||
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$40,185 - June 2013; $40,649 - December 2012
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2,325,877 | 2,319,638 | ||||||
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FDIC indemnification asset
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89,637 | 117,263 | ||||||
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Interest receivable
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12,337 | 12,755 | ||||||
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Prepaid expenses and other assets
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79,365 | 79,560 | ||||||
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Foreclosed assets held for sale, net
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61,093 | 68,874 | ||||||
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Premises and equipment, net
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102,912 | 102,286 | ||||||
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Goodwill and other intangible assets
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5,197 | 5,811 | ||||||
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Investment in Federal Home Loan Bank stock
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10,374 | 10,095 | ||||||
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Total Assets
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$ | 3,828,025 | $ | 3,955,182 | ||||
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LIABILITIES AND STOCKHOLDERS' EQUITY
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Liabilities:
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Deposits
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$ | 3,013,896 | $ | 3,153,193 | ||||
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Federal Home Loan Bank advances
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128,125 | 126,730 | ||||||
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Securities sold under reverse repurchase agreements with customers
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196,299 | 179,644 | ||||||
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Short-term borrowings
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633 | 772 | ||||||
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Structured repurchase agreements
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53,013 | 53,039 | ||||||
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Subordinated debentures issued to capital trusts
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30,929 | 30,929 | ||||||
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Accrued interest payable
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1,106 | 1,322 | ||||||
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Advances from borrowers for taxes and insurance
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4,402 | 2,154 | ||||||
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Accounts payable and accrued expenses
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16,182 | 12,128 | ||||||
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Current and deferred income tax liability
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9,049 | 25,397 | ||||||
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Total Liabilities
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3,453,634 | 3,585,308 | ||||||
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Stockholders' Equity:
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||||||||
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Capital stock
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Serial preferred stock – $.01 par value; authorized 1,000,000 shares; issued
and outstanding June 2013 and December 2012 - 57,943 shares,
$1,000 liquidation amount
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57,943 | 57,943 | ||||||
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Common stock, $.01 par value; authorized 20,000,000 shares;
issued and outstanding June 2013 – 13,623,779 shares;
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December 2012 - 13,596,335 shares
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136 | 136 | ||||||
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Additional paid-in capital
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18,780 | 18,394 | ||||||
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Retained earnings
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288,528 | 276,751 | ||||||
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Accumulated other comprehensive gain
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9,004 | 16,650 | ||||||
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Total Stockholders' Equity
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374,391 | 369,874 | ||||||
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Total Liabilities and Stockholders' Equity
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$ | 3,828,025 | $ | 3,955,182 | ||||
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THREE MONTHS ENDED
JUNE 30,
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2013
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2012
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INTEREST INCOME
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(Unaudited)
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Loans
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$
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39,362
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$
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42,068
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Investment securities and other
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4,119
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6,153
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TOTAL INTEREST INCOME
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43,481
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48,221
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INTEREST EXPENSE
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Deposits
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3,263
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5,786
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Federal Home Loan Bank advances
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989
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1,132
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Short-term borrowings and repurchase agreements
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588
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672
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Subordinated debentures issued to capital trusts
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140
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154
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TOTAL INTEREST EXPENSE
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4,980
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7,744
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NET INTEREST INCOME
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38,501
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40,477
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PROVISION FOR LOAN LOSSES
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3,671
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17,600
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NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES
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34,830
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22,877
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NON-INTEREST INCOME
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Commissions
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350
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263
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Service charges and ATM fees
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4,644
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4,881
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Net realized gains on sales of loans
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1,628
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1,097
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Net realized gains on sales of available-for-sale securities
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97
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1,251
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Late charges and fees on loans
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201
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238
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Gain (loss) on derivative interest rate products
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347
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(117
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)
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Initial gain recognized on business acquisition
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—
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31,312
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||||||
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Accretion (amortization) of income/expense related to business acquisitions
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(5,694
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)
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(4,440
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)
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Other income
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754
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1,363
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TOTAL NON-INTEREST INCOME
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2,327
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35,848
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NON-INTEREST EXPENSE
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Salaries and employee benefits
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13,078
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13,292
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Net occupancy and equipment expense
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5,100
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4,976
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Postage
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871
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820
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Insurance
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957
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1,081
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Advertising
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691
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431
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Office supplies and printing
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323
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340
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Telephone
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803
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691
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Legal, audit and other professional fees
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948
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1,560
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Expense on foreclosed assets
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1,355
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1,228
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Partnership tax credit
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1,537
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1,171
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||||||
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Other operating expenses
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1,954
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2,567
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TOTAL NON-INTEREST EXPENSE
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27,617
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28,157
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INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES
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9,540
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30,568
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PROVISION FOR INCOME TAXES
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1,316
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9,039
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NET INCOME FROM CONTINUING OPERATIONS
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8,224
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21,529
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DISCONTINUED OPERATIONS
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||||||||
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Income from discontinued operations, net of income taxes
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—
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127
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||||||
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NET INCOME
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8,224
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21,656
|
||||||
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Preferred stock dividends
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|
145
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144
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NET INCOME AVAILABLE TO COMMON SHAREHOLDERS
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$
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8,079
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$
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21,512
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THREE MONTHS ENDED
JUNE 30,
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|
|||||
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2013
|
|
|
2012
|
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||
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BASIC EARNINGS PER COMMON SHARE
|
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$
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0.59
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$
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1.59
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DILUTED EARNINGS PER COMMON SHARE
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|
$
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0.59
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|
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$
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1.58
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BASIC EARNINGS PER COMMON SHARE FROM CONTINUING OPERATIONS
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$
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0.59
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$
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1.58
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||||
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DILUTED EARNINGS PER COMMON SHARE FROM CONTINUING
OPERATIONS
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$
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0.59
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$
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1.57
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||||
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DIVIDENDS DECLARED PER COMMON SHARE
|
|
$
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0.18
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$
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0.18
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|
SIX MONTHS ENDED
JUNE 30,
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|
||||||
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2013
|
|
|
2012
|
|
||
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INTEREST INCOME
|
|
(Unaudited)
|
|
|||||
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Loans
|
|
$
|
82,140
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|
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$
|
79,966
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Investment securities and other
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|
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8,697
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12,932
|
|
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TOTAL INTEREST INCOME
|
|
|
90,837
|
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|
92,898
|
|
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INTEREST EXPENSE
|
|
|
|
|
|
|
|
|
|
Deposits
|
|
|
6,789
|
|
|
|
11,570
|
|
|
Federal Home Loan Bank advances
|
|
|
1,963
|
|
|
|
2,406
|
|
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Short-term borrowings and repurchase agreements
|
|
|
1,170
|
|
|
|
1,358
|
|
|
Subordinated debentures issued to capital trusts
|
|
|
281
|
|
|
|
315
|
|
|
TOTAL INTEREST EXPENSE
|
|
|
10,203
|
|
|
|
15,649
|
|
|
NET INTEREST INCOME
|
|
|
80,634
|
|
|
|
77,249
|
|
|
PROVISION FOR LOAN LOSSES
|
|
|
11,896
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|
|
|
27,677
|
|
|
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES
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|
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68,738
|
|
|
|
49,572
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|
|
|
|
|
|
|
|
|
|
|
NON-INTEREST INCOME
|
|
|
|
|
|
|
|
|
|
Commissions
|
|
|
678
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|
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|
538
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Service charges and ATM fees
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|
|
9,071
|
|
|
|
9,372
|
|
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Net realized gains on sales of loans
|
|
|
3,057
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|
|
|
2,246
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|
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Net realized gains on sales of available-for-sale securities
|
131
|
|
1,280
|
|||||
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Late charges and fees on loans
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|
|
501
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|
411
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Gain (loss) on derivative interest rate products
|
408
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(20
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)
|
|||||
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Initial gain recognized on business acquisition
|
—
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31,312
|
||||||
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Accretion (amortization) of income/expense related to business acquisitions
|
|
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(11,561
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)
|
|
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(6,188
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)
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Other income
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2,965
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|
|
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2,985
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TOTAL NON-INTEREST INCOME
|
|
|
5,250
|
|
|
|
41,936
|
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|
|
|
|
|
|
|
|
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|
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NON-INTEREST EXPENSE
|
|
|
|
|
|
|
||
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Salaries and employee benefits
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|
26,300
|
|
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25,829
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|
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Net occupancy and equipment expense
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10,235
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|
9,678
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Postage
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|
|
1,664
|
|
|
|
1,628
|
|
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Insurance
|
|
|
2,121
|
|
|
|
2,177
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|
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Advertising
|
|
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1,166
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|
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|
766
|
|
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Office supplies and printing
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|
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629
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|
|
|
720
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Telephone
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|
|
1,490
|
|
|
|
1,404
|
|
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Legal, audit and other professional fees
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|
|
1,750
|
|
|
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2,421
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Expense on foreclosed assets
|
|
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2,410
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|
|
|
1,668
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|
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Partnership tax credit
|
2,922
|
2,336
|
||||||
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Other operating expenses
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3,873
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|
|
4,514
|
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TOTAL NON-INTEREST EXPENSE
|
|
|
54,560
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|
|
|
53,141
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|
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|
|
|
|
|
|
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|
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INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES
|
|
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19,428
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38,367
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|
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|
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|
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|
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PROVISION FOR INCOME TAXES
|
|
|
2,810
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|
|
|
9,701
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|
|
|
|
|
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|
|
|
||
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NET INCOME FROM CONTINUING OPERATIONS
|
|
|
16,618
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|
|
|
28,666
|
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DISCONTINUED OPERATIONS
|
||||||||
|
Income from discontinued operations, net of income taxes
|
—
|
487
|
||||||
|
NET INCOME
|
16,618
|
29,153
|
||||||
|
Preferred stock dividends
|
|
|
290
|
|
|
290
|
|
|
|
NET INCOME AVAILABLE TO COMMON SHAREHOLDERS
|
|
$
|
16,328
|
|
|
$
|
28,863
|
|
|
|
SIX MONTHS ENDED
JUNE 30,
|
|
||||||
|
|
|
2013
|
|
|
2012
|
|
||
|
BASIC EARNINGS PER COMMON SHARE
|
|
$
|
1.20
|
|
|
$
|
2.14
|
|
|
DILUTED EARNINGS PER COMMON SHARE
|
|
$
|
1.19
|
|
|
$
|
2.12
|
|
|
BASIC EARNINGS PER COMMON SHARE FROM CONTINUING OPERATIONS
|
$
|
1.20
|
$
|
2.10
|
||||
|
DILUTED EARNINGS PER COMMON SHARE FROM CONTINUING
OPERATIONS
|
$
|
1.19
|
$
|
2.09
|
||||
|
DIVIDENDS DECLARED PER COMMON SHARE
|
|
$
|
0.36
|
|
|
$
|
0.36
|
|
|
THREE MONTHS ENDED
JUNE 30,
|
||||||||
|
2013
|
2012
|
|||||||
|
Net Income
|
$ | 8,224 | $ | 21,656 | ||||
|
Unrealized appreciation (depreciation) on available-for-sale securities, net of
|
||||||||
|
taxes (credit) of $(3,979) and $1,515, for 2013 and 2012, respectively
|
(7,389 | ) | 2,814 | |||||
|
Non-credit component of unrealized gain (loss) on available-for-sale debt
|
||||||||
|
securities for which a portion of an other-than-temporary impairment
|
||||||||
|
has been recognized, net of taxes of $1 and $31, for
|
||||||||
|
2013 and 2012, respectively
|
1 | 58 | ||||||
|
Other-than-temporary impairment loss recognized in earnings on
|
||||||||
|
available for sale securities, net of taxes (credit) of $0 and $(92),
|
||||||||
|
for 2013 and 2012, respectively
|
— | (170 | ) | |||||
|
Reclassification adjustment for gains included in net income,
|
||||||||
|
net of taxes of $(34) and $(437) for 2013 and 2012, respectively
|
(63 | ) | (814 | ) | ||||
|
Comprehensive Income
|
$ | 773 | $ | 23,544 | ||||
|
SIX MONTHS ENDED
JUNE 30,
|
||||||||
| 2013 | 2012 | |||||||
|
Net Income
|
$ | 16,618 | $ | 29,153 | ||||
|
Unrealized appreciation (depreciation) on available-for-sale securities, net of
|
||||||||
|
taxes (credit) of $(4,051) and $2,454, for 2013 and 2012, respectively
|
(7,524 | ) | 4,558 | |||||
|
Non-credit component of unrealized gain (loss) on available-for-sale debt
|
||||||||
|
securities for which a portion of an other-than-temporary impairment
|
||||||||
|
has been recognized, net of taxes (credit) of $(20) and $(3), for
|
||||||||
|
2013 and 2012, respectively
|
(37 | ) | (6 | ) | ||||
|
Other-than-temporary impairment loss recognized in earnings on
|
||||||||
|
available for sale securities, net of taxes (credit) of $0 and $(92),
|
||||||||
|
for 2013 and 2012, respectively
|
— | (170 | ) | |||||
|
Reclassification adjustment for gains included in net income,
|
||||||||
|
net of taxes of $(46) and $(447) for 2013 and 2012, respectively
|
(85 | ) | (832 | ) | ||||
|
Comprehensive Income
|
$ | 8,972 | $ | 32,703 | ||||
|
|
|
SIX MONTHS ENDED JUNE 30,
|
|
|||||
|
|
|
2013
|
|
|
2012
|
|
||
|
|
|
(Unaudited)
|
|
|||||
|
CASH FLOWS FROM OPERATING ACTIVITIES
|
|
|
|
|
||||
|
Net income
|
|
$
|
16,618
|
|
|
$
|
29,153
|
|
|
Proceeds from sales of loans held for sale
|
|
|
125,536
|
|
|
|
117,055
|
|
|
Originations of loans held for sale
|
|
|
(126,003
|
)
|
|
|
(116,480
|
)
|
|
Items not requiring (providing) cash:
|
|
|
|
|
|
|
|
|
|
Depreciation
|
|
|
3,935
|
|
|
|
3,359
|
|
|
Amortization of other assets
|
|
|
3,536
|
|
|
|
2,964
|
|
|
Compensation expense for stock option grants
|
221
|
214
|
||||||
|
Provision for loan losses
|
|
|
11,896
|
|
|
|
27,677
|
|
|
Net gains on loan sales
|
|
|
(3,057
|
)
|
|
|
(2,246
|
)
|
|
Net gains on sale or impairment of available-for-sale investment securities
|
(131
|
)
|
|
(1,280
|
)
|
|||
|
Net (gains) losses on sale of premises and equipment
|
|
|
(17
|
)
|
|
|
177
|
|
|
(Gain) loss on sale of foreclosed assets
|
|
|
1,552
|
|
|
|
(349
|
)
|
|
Gain on purchase of additional business units
|
—
|
|
(31,312
|
)
|
||||
|
Amortization of deferred income, premiums, discounts
|
|
|
|
|||||
|
and fair value adjustments
|
|
|
14,659
|
|
|
|
2,585
|
|
|
(Gain) loss on derivative interest rate products
|
(408
|
)
|
|
|
20
|
|
||
|
Deferred income taxes
|
|
|
(5,101
|
)
|
|
|
9,737
|
|
|
Changes in:
|
|
|
|
|
|
|
|
|
|
Interest receivable
|
|
|
418
|
|
|
|
1,576
|
|
|
Prepaid expenses and other assets
|
|
|
12,132
|
|
|
|
62,344
|
|
|
Accounts payable and accrued expenses
|
|
|
2,550
|
|
|
|
1,538
|
|
|
Income taxes refundable/payable
|
|
|
(7,130
|
)
|
|
|
320
|
|
|
Net cash provided by operating activities
|
|
|
51,206
|
|
|
|
107,052
|
|
|
CASH FLOWS FROM INVESTING ACTIVITIES
|
|
|
|
|
|
|
|
|
|
Net (increase) decrease in loans
|
|
|
(23,202
|
)
|
|
|
40,781
|
|
|
Purchase of loans
|
|
|
—
|
|
(12,107
|
)
|
||
|
Cash received from purchase of additional business units
|
—
|
|
75,328
|
|||||
|
Purchase of premises and equipment
|
|
|
(5,748
|
)
|
|
|
(15,008
|
)
|
|
Proceeds from sale of premises and equipment
|
|
|
1,204
|
|
|
154
|
||
|
Proceeds from sale of foreclosed assets
|
|
|
19,331
|
|
|
24,460
|
|
|
|
Capitalized costs on foreclosed assets
|
|
|
(174
|
)
|
|
|
(95
|
)
|
|
Proceeds from sales of available-for-sale investment securities
|
3,932
|
|
74,699
|
|||||
|
Proceeds from maturing investment securities
|
—
|
|
1,830
|
|||||
|
Proceeds from called investment securities
|
|
|
4,160
|
|
|
|
26,835
|
|
|
Principal reductions on mortgage-backed securities
|
|
|
126,294
|
|
|
|
68,006
|
|
|
Purchase of available-for-sale securities
|
|
|
(87,487
|
)
|
|
|
(75,433
|
)
|
|
Redemption (purchase) of Federal Home Loan Bank stock
|
|
|
(279
|
)
|
|
|
1,596
|
|
|
Net cash provided by investing activities
|
|
|
38,031
|
|
|
|
211,046
|
|
|
CASH FLOWS FROM FINANCING ACTIVITIES
|
|
|
|
|
|
|
|
|
|
Net decrease in certificates of deposit
|
|
|
(165,345
|
)
|
|
|
(105,078
|
)
|
|
Net increase in checking and savings deposits
|
|
|
26,925
|
|
|
|
78,625
|
|
|
Proceeds from Federal Home Loan Bank advances
|
|
|
1,980
|
|
|
—
|
||
|
Repayments of Federal Home Loan Bank advances
|
|
|
(145
|
)
|
|
|
(32,710
|
)
|
|
Net increase (decrease) in short-term borrowings and structured repo
|
|
|
16,516
|
|
|
|
(10,865
|
)
|
|
Advances from borrowers for taxes and insurance
|
|
|
2,248
|
|
|
|
1,387
|
|
|
Dividends paid
|
|
|
(2,763
|
)
|
|
|
(5,373
|
)
|
|
Stock options exercised
|
|
|
516
|
|
|
|
467
|
|
|
Net cash used in financing activities
|
|
|
(120,068
|
)
|
|
|
(73,547
|
)
|
|
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS
|
|
|
(30,831
|
)
|
|
|
244,551
|
|
|
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD
|
|
|
404,141
|
|
|
|
380,249
|
|
|
CASH AND CASH EQUIVALENTS, END OF PERIOD
|
|
$
|
373,310
|
|
|
$
|
624,800
|
|
|
Three Months Ended June 30,
|
||||||||
|
2013
|
2012
|
|||||||
|
(In Thousands, Except Per Share Data)
|
||||||||
|
Basic:
|
||||||||
|
Average shares outstanding
|
13,619 | 13,501 | ||||||
|
Net income available to common shareholders
|
$ | 8,079 | $ | 21,512 | ||||
|
Per share amount
|
$ | 0.59 | $ | 1.59 | ||||
|
Income from continuing operations available to common shareholders
|
$ | 8,079 | $ | 21,385 | ||||
|
Per share amount
|
$ | 0.59 | $ | 1.58 | ||||
|
Income from discontinued operations available to common shareholders
|
$ | — | $ | 127 | ||||
|
Per share amount
|
$ | — | $ | 0.01 | ||||
|
Diluted:
|
||||||||
|
Average shares outstanding
|
13,619 | 13,501 | ||||||
|
Net effect of dilutive stock options and warrants – based on the treasury
|
||||||||
|
stock method using average market price
|
62 | 98 | ||||||
|
Diluted shares
|
13,681 | 13,599 | ||||||
|
Net income available to common shareholders
|
$ | 8,079 | $ | 21,512 | ||||
|
Per share amount
|
$ | 0.59 | $ | 1.58 | ||||
|
Income from continuing operations available to common shareholders
|
$ | 8,079 | $ | 21,385 | ||||
|
Per share amount
|
$ | 0.59 | $ | 1.57 | ||||
|
Income from discontinued operations available to common shareholders
|
$ | — | $ | 127 | ||||
|
Per share amount
|
$ | — | $ | 0.01 | ||||
|
Six Months Ended June 30,
|
||||||||
|
2013
|
2012
|
|||||||
|
(In Thousands, Except Per Share Data)
|
||||||||
|
Basic:
|
||||||||
|
Average shares outstanding
|
13,618 | 13,501 | ||||||
|
Net income available to common shareholders
|
$ | 16,328 | $ | 28,863 | ||||
|
Per share amount
|
$ | 1.20 | $ | 2.14 | ||||
|
Income from continuing operations available to common shareholders
|
$ | 16,328 | $ | 28,376 | ||||
|
Per share amount
|
$ | 1.20 | $ | 2.10 | ||||
|
Income from discontinued operations available to common shareholders
|
$ | — | $ | 487 | ||||
|
Per share amount
|
$ | — | $ | 0.04 | ||||
|
Diluted:
|
||||||||
|
Average shares outstanding
|
13,618 | 13,501 | ||||||
|
Net effect of dilutive stock options and warrants – based on the treasury
|
||||||||
|
stock method using average market price
|
62 | 98 | ||||||
|
Diluted shares
|
13,680 | 13,599 | ||||||
|
Net income available to common shareholders
|
$ | 16,328 | $ | 28,863 | ||||
|
Per share amount
|
$ | 1.19 | $ | 2.12 | ||||
|
Income from continuing operations available to common shareholders
|
$ | 16,328 | $ | 28,376 | ||||
|
Per share amount
|
$ | 1.19 | $ | 2.09 | ||||
|
Income from discontinued operations available to common shareholders
|
$ | — | $ | 487 | ||||
|
Per share amount
|
$ | — | $ | 0.03 | ||||
|
June 30, 2013
|
||||||||||||||||||||
|
Gross
|
Gross
|
Tax
|
||||||||||||||||||
|
Amortized
|
Unrealized
|
Unrealized
|
Fair
|
Equivalent
|
||||||||||||||||
|
Cost
|
Gains
|
Losses
|
Value
|
Yield
|
||||||||||||||||
|
(In Thousands)
|
||||||||||||||||||||
|
AVAILABLE-FOR-SALE SECURITIES:
|
||||||||||||||||||||
|
U.S. government agencies
|
$ | 20,000 | $ | — | $ | 856 | $ | 19,144 | 2.00 | % | ||||||||||
|
Mortgage-backed securities
|
549,434 | 10,003 | 1,647 | 557,790 | 2.04 | |||||||||||||||
|
Small Business Administration
|
||||||||||||||||||||
|
loan pools
|
47,539 | 2,009 | — | 49,548 | 1.90 | |||||||||||||||
|
States and political subdivisions
|
112,767 | 3,454 | 738 | 115,483 | 5.53 | |||||||||||||||
|
Equity securities
|
847 | 1,627 | — | 2,474 | — | |||||||||||||||
| $ | 730,587 | $ | 17,093 | $ | 3,241 | $ | 744,439 | 2.56 | % | |||||||||||
|
HELD-TO-MATURITY SECURITIES:
|
||||||||||||||||||||
|
States and political subdivisions
|
$ | 805 | $ | 113 | $ | — | $ | 918 | 7.37 | % | ||||||||||
|
December 31, 2012
|
||||||||||||||||||||
|
Gross
|
Gross
|
Tax
|
||||||||||||||||||
|
Amortized
|
Unrealized
|
Unrealized
|
Fair
|
Equivalent
|
||||||||||||||||
|
Cost
|
Gains
|
Losses
|
Value
|
Yield
|
||||||||||||||||
|
(In Thousands)
|
||||||||||||||||||||
|
AVAILABLE-FOR-SALE SECURITIES:
|
||||||||||||||||||||
|
U.S. government agencies
|
$ | 30,000 | $ | 40 | $ | — | $ | 30,040 | 1.25 | % | ||||||||||
|
Collateralized mortgage obligations
|
3,939 | 576 | 8 | 4,507 | 1.72 | |||||||||||||||
|
Mortgage-backed securities
|
582,039 | 14,861 | 814 | 596,086 | 2.42 | |||||||||||||||
|
Small Business Administration
|
||||||||||||||||||||
|
loan pools
|
50,198 | 1,295 | — | 51,493 | 1.99 | |||||||||||||||
|
States and political subdivisions
|
114,372 | 8,506 | — | 122,878 | 5.61 | |||||||||||||||
|
Equity securities
|
847 | 1,159 | — | 2,006 | — | |||||||||||||||
| $ | 781,395 | $ | 26,437 | $ | 822 | $ | 807,010 | 2.80 | % | |||||||||||
|
HELD-TO-MATURITY SECURITIES:
|
||||||||||||||||||||
|
States and political subdivisions
|
$ | 920 | $ | 164 | $ | — | $ | 1,084 | 7.37 | % | ||||||||||
|
Amortized
|
Fair
|
|||||||
|
Cost
|
Value
|
|||||||
|
(In Thousands)
|
||||||||
|
One year or less
|
$ | 110 | $ | 110 | ||||
|
After one through five years
|
468 | 473 | ||||||
|
After five through ten years
|
9,591 | 9,803 | ||||||
|
After ten years
|
170,137 | 173,789 | ||||||
|
Securities not due on a single maturity date
|
549,434 | 557,790 | ||||||
|
Equity securities
|
847 | 2,474 | ||||||
| $ | 730,587 | $ | 744,439 | |||||
|
Amortized
|
Fair
|
|||||||
|
Cost
|
Value
|
|||||||
|
(In Thousands)
|
||||||||
|
After five through ten years
|
$ | 805 | $ | 918 | ||||
|
June 30, 2013
|
||||||||||||||||||||||||
|
Less than 12 Months
|
12 Months or More
|
Total
|
||||||||||||||||||||||
|
Fair
|
Unrealized
|
Fair
|
Unrealized
|
Fair
|
Unrealized
|
|||||||||||||||||||
|
Description of Securities
|
Value
|
Losses
|
Value
|
Losses
|
Value
|
Losses
|
||||||||||||||||||
|
(In Thousands)
|
||||||||||||||||||||||||
|
U.S. government agencies
|
$ | 20,000 | $ | (856 | ) | $ | — | $ | — | $ | 20,000 | $ | (856 | ) | ||||||||||
|
Mortgage-backed securities
|
163,381 | (1,647 | ) | 1 | — | 163,382 | (1,647 | ) | ||||||||||||||||
|
State and political
|
||||||||||||||||||||||||
|
subdivisions
|
32,435 | (738 | ) | — | — | 32,435 | (738 | ) | ||||||||||||||||
| $ | 215,816 | $ | (3,241 | ) | $ | 1 | $ | — | $ | 215,817 | $ | (3,241 | ) | |||||||||||
|
December 31, 2012
|
||||||||||||||||||||||||
|
Less than 12 Months
|
12 Months or More
|
Total
|
||||||||||||||||||||||
|
Fair
|
Unrealized
|
Fair
|
Unrealized
|
Fair
|
Unrealized
|
|||||||||||||||||||
|
Description of Securities
|
Value
|
Losses
|
Value
|
Losses
|
Value
|
Losses
|
||||||||||||||||||
|
(In Thousands)
|
||||||||||||||||||||||||
|
Collateralized mortgage
|
||||||||||||||||||||||||
|
obligations
|
$ | — | $ | — | $ | 414 | $ | (8 | ) | $ | 414 | $ | (8 | ) | ||||||||||
|
Mortgage-backed securities
|
106,136 | (814 | ) | — | — | 106,136 | (814 | ) | ||||||||||||||||
| $ | 106,136 | $ | (814 | ) | $ | 414 | $ | (8 | ) | $ | 106,550 | $ | (822 | ) | ||||||||||
|
Accumulated
|
||||
|
Credit Losses
|
||||
|
(In Thousands)
|
||||
|
Credit losses on debt securities held
|
||||
|
April 1, 2013
|
$ | 4,176 | ||
|
Additions related to other-than-temporary losses not previously recognized
|
— | |||
|
Additions related to increases in credit losses on debt securities for which
|
||||
|
other-than-temporary impairment losses were previously recognized
|
— | |||
|
Reductions due to final principal payments
|
(4,176 | ) | ||
|
June 30, 2013
|
$ | — | ||
|
Accumulated
|
||||
|
Credit Losses
|
||||
|
(In Thousands)
|
||||
|
Credit losses on debt securities held
|
||||
|
April 1, 2012
|
$ | 3,598 | ||
|
Additions related to other-than-temporary losses not previously recognized
|
— | |||
|
Additions related to increases in credit losses on debt securities for which
|
||||
|
other-than-temporary impairment losses were previously recognized
|
262 | |||
|
Reductions due to sales
|
— | |||
|
June 30, 2012
|
$ | 3,860 | ||
|
Accumulated
|
||||
|
Credit Losses
|
||||
|
(In Thousands)
|
||||
|
Credit losses on debt securities held
|
||||
|
January 1, 2013
|
$ | 4,176 | ||
|
Additions related to other-than-temporary losses not previously recognized
|
— | |||
|
Additions related to increases in credit losses on debt securities for which
|
||||
|
other-than-temporary impairment losses were previously recognized
|
— | |||
|
Reductions due to final principal payments
|
(4,176 | ) | ||
|
June 30, 2013
|
$ | — | ||
|
Accumulated
|
||||
|
Credit Losses
|
||||
|
(In Thousands)
|
||||
|
Credit losses on debt securities held
|
||||
|
January 1, 2012
|
$ | 3,598 | ||
|
Additions related to other-than-temporary losses not previously recognized
|
— | |||
|
Additions related to increases in credit losses on debt securities for which
|
||||
|
other-than-temporary impairment losses were previously recognized
|
262 | |||
|
Reductions due to sales
|
— | |||
|
June 30, 2012
|
$ | 3,860 | ||
|
Amounts Reclassified from Other
|
|||||
|
Comprehensive Income
|
|||||
|
Three Months Ended June 30,
|
Affected Line Item in the
|
||||
|
2013
|
2012
|
Statements of Income
|
|||
|
(In Thousands)
|
|||||
|
Unrealized gains (losses) on available-
|
Net realized gains on available-
|
||||
|
for-sale securities
|
$97
|
$1,251
|
for-sale securities
|
||
|
(Total reclassified amount before tax)
|
|||||
|
Income Taxes
|
(34)
|
(437)
|
Provision for income taxes
|
||
|
Total reclassifications out of accumulated
|
|||||
|
other comprehensive income
|
$63
|
$814
|
|||
|
Amounts Reclassified from Other
|
|||||
|
Comprehensive Income
|
|||||
|
Six Months Ended June 30,
|
Affected Line Item in the
|
||||
|
2013
|
2012
|
Statements of Income
|
|||
|
(In Thousands)
|
|||||
|
Unrealized gains (losses) on available-
|
Net realized gains on available-
|
||||
|
for-sale securities
|
$131
|
$1,280
|
for-sale securities
|
||
|
(Total reclassified amount before tax)
|
|||||
|
Income Taxes
|
(46)
|
(448)
|
Provision for income taxes
|
||
|
Total reclassifications out of accumulated
|
|||||
|
other comprehensive income
|
$85
|
$832
|
|||
|
June 30,
|
December 31,
|
|||||||
|
2013
|
2012
|
|||||||
|
(In Thousands)
|
||||||||
|
One- to four-family residential construction
|
$ | 37,447 | $ | 29,071 | ||||
|
Subdivision construction
|
35,635 | 35,805 | ||||||
|
Land development
|
63,756 | 62,559 | ||||||
|
Commercial construction
|
170,841 | 150,515 | ||||||
|
Owner occupied one- to four-family residential
|
83,445 | 83,859 | ||||||
|
Non-owner occupied one- to four-family residential
|
145,570 | 145,458 | ||||||
|
Commercial real estate
|
723,234 | 692,377 | ||||||
|
Other residential
|
259,800 | 267,518 | ||||||
|
Commercial business
|
279,220 | 264,631 | ||||||
|
Industrial revenue bonds
|
40,854 | 43,762 | ||||||
|
Consumer auto
|
104,215 | 82,610 | ||||||
|
Consumer other
|
83,774 | 83,815 | ||||||
|
Home equity lines of credit
|
54,209 | 54,225 | ||||||
|
FDIC-supported loans, net of discounts (TeamBank)
|
59,711 | 77,615 | ||||||
|
FDIC-supported loans, net of discounts (Vantus Bank)
|
76,380 | 95,483 | ||||||
|
FDIC-supported loans, net of discounts (Sun Security Bank)
|
75,556 | 91,519 | ||||||
|
FDIC-supported loans, net of discounts (InterBank)
|
230,568 | 259,232 | ||||||
| 2,524,215 | 2,520,054 | |||||||
|
Undisbursed portion of loans in process
|
(155,265 | ) | (157,574 | ) | ||||
|
Allowance for loan losses
|
(40,185 | ) | (40,649 | ) | ||||
|
Deferred loan fees and gains, net
|
(2,888 | ) | (2,193 | ) | ||||
| $ | 2,325,877 | $ | 2,319,638 | |||||
|
Weighted average interest rate
|
5.20 | % | 5.39 | % | ||||
|
June 30, 2013
|
||||||||||||||||||||||||||||
|
Total Loans
|
||||||||||||||||||||||||||||
|
30-59 Days
|
60-89 Days
|
Over 90
|
Total Past
|
Total Loans
|
> 90 Days and
|
|||||||||||||||||||||||
|
Past Due
|
Past Due
|
Days
|
Due
|
Current
|
Receivable
|
Still Accruing
|
||||||||||||||||||||||
|
(In Thousands)
|
||||||||||||||||||||||||||||
|
One- to four-family
|
||||||||||||||||||||||||||||
|
residential construction
|
$ | — | $ | — | $ | — | $ | — | $ | 37,447 | $ | 37,447 | $ | — | ||||||||||||||
|
Subdivision construction
|
183 | — | 1,289 | 1,472 | 34,163 | 35,635 | — | |||||||||||||||||||||
|
Land development
|
818 | — | 243 | 1,061 | 62,696 | 63,756 | — | |||||||||||||||||||||
|
Commercial construction
|
— | — | — | — | 170,841 | 170,841 | — | |||||||||||||||||||||
|
Owner occupied one- to four-
|
||||||||||||||||||||||||||||
|
family residential
|
114 | 134 | 1,920 | 2,168 | 81,277 | 83,445 | 41 | |||||||||||||||||||||
|
Non-owner occupied one- to
|
||||||||||||||||||||||||||||
|
four-family residential
|
791 | 106 | 1,384 | 2,281 | 143,289 | 145,570 | — | |||||||||||||||||||||
|
Commercial real estate
|
1,739 | 513 | 11,168 | 13,420 | 709,814 | 723,234 | — | |||||||||||||||||||||
|
Other residential
|
— | — | — | — | 259,800 | 259,800 | — | |||||||||||||||||||||
|
Commercial business
|
107 | 31 | 7,801 | 7,939 | 271,282 | 279,220 | — | |||||||||||||||||||||
|
Industrial revenue bonds
|
— | — | — | — | 40,854 | 40,854 | — | |||||||||||||||||||||
|
Consumer auto
|
568 | 117 | 66 | 751 | 103,464 | 104,215 | — | |||||||||||||||||||||
|
Consumer other
|
991 | 379 | 644 | 2,014 | 81,760 | 83,774 | 265 | |||||||||||||||||||||
|
Home equity lines of credit
|
387 | 61 | 185 | 633 | 53,576 | 54,209 | — | |||||||||||||||||||||
|
FDIC-supported loans, net of
|
||||||||||||||||||||||||||||
|
discounts (TeamBank)
|
536 | 315 | 4,758 | 5,609 | 54,102 | 59,711 | — | |||||||||||||||||||||
|
FDIC-supported loans, net of
|
||||||||||||||||||||||||||||
|
discounts (Vantus Bank)
|
864 | 811 | 3,004 | 4,679 | 71,701 | 76,380 | — | |||||||||||||||||||||
|
FDIC-supported loans,
|
||||||||||||||||||||||||||||
|
net of discounts
|
||||||||||||||||||||||||||||
|
(Sun Security Bank)
|
999 | 361 | 9,865 | 11,225 | 64,331 | 75,556 | — | |||||||||||||||||||||
|
FDIC-supported loans,
|
||||||||||||||||||||||||||||
|
net of discounts
|
||||||||||||||||||||||||||||
|
(InterBank)
|
2,916 | 1,749 | 20,891 | 25,556 | 205,012 | 230,568 | — | |||||||||||||||||||||
| 11,013 | 4,577 | 63,218 | 78,808 | 2,445,407 | 2,524,215 | 306 | ||||||||||||||||||||||
|
Less FDIC-supported loans,
|
||||||||||||||||||||||||||||
|
net of discounts
|
5,315 | 3,236 | 38,518 | 47,069 | 395,146 | 442,215 | — | |||||||||||||||||||||
|
Total
|
$ | 5,698 | $ | 1,341 | $ | 24,700 | $ | 31,739 | $ | 2,050,261 | $ | 2,082,000 | $ | 306 | ||||||||||||||
|
December 31, 2012
|
||||||||||||||||||||||||||||
|
Total Loans
|
||||||||||||||||||||||||||||
|
30-59 Days
|
60-89 Days
|
Over 90
|
Total Past
|
Total Loans
|
> 90 Days and
|
|||||||||||||||||||||||
|
Past Due
|
Past Due
|
Days
|
Due
|
Current
|
Receivable
|
Still Accruing
|
||||||||||||||||||||||
|
(In Thousands)
|
||||||||||||||||||||||||||||
|
One- to four-family
|
||||||||||||||||||||||||||||
|
residential construction
|
$ | 178 | $ | — | $ | — | $ | 178 | $ | 28,893 | $ | 29,071 | $ | — | ||||||||||||||
|
Subdivision construction
|
478 | — | 3 | 481 | 35,324 | 35,805 | — | |||||||||||||||||||||
|
Land development
|
— | — | 2,471 | 2,471 | 60,088 | 62,559 | — | |||||||||||||||||||||
|
Commercial construction
|
— | — | — | — | 150,515 | 150,515 | — | |||||||||||||||||||||
|
Owner occupied one- to four-
|
||||||||||||||||||||||||||||
|
family residential
|
3,305 | 263 | 2,352 | 5,920 | 77,939 | 83,859 | 237 | |||||||||||||||||||||
|
Non-owner occupied one- to
|
||||||||||||||||||||||||||||
|
four-family residential
|
2,600 | — | 1,905 | 4,505 | 140,953 | 145,458 | — | |||||||||||||||||||||
|
Commercial real estate
|
1,346 | 726 | 8,324 | 10,396 | 681,981 | 692,377 | — | |||||||||||||||||||||
|
Other residential
|
3,741 | — | — | 3,741 | 263,777 | 267,518 | — | |||||||||||||||||||||
|
Commercial business
|
2,094 | 153 | 4,139 | 6,386 | 258,245 | 264,631 | — | |||||||||||||||||||||
|
Industrial revenue bonds
|
— | — | 2,110 | 2,110 | 41,652 | 43,762 | — | |||||||||||||||||||||
|
Consumer auto
|
690 | 73 | 120 | 883 | 81,727 | 82,610 | 26 | |||||||||||||||||||||
|
Consumer other
|
1,522 | 242 | 834 | 2,598 | 81,217 | 83,815 | 449 | |||||||||||||||||||||
|
Home equity lines of credit
|
185 | 146 | 220 | 551 | 53,674 | 54,225 | — | |||||||||||||||||||||
|
FDIC-supported loans, net of
|
||||||||||||||||||||||||||||
|
discounts (TeamBank)
|
1,608 | 2,077 | 8,020 | 11,705 | 65,910 | 77,615 | 173 | |||||||||||||||||||||
|
FDIC-supported loans, net of
|
||||||||||||||||||||||||||||
|
discounts (Vantus Bank)
|
1,545 | 669 | 5,641 | 7,855 | 87,628 | 95,483 | — | |||||||||||||||||||||
|
FDIC-supported loans,
|
||||||||||||||||||||||||||||
|
net of discounts
|
||||||||||||||||||||||||||||
|
(Sun Security Bank)
|
1,539 | 384 | 21,342 | 23,265 | 68,254 | 91,519 | 1,274 | |||||||||||||||||||||
|
FDIC-supported loans, net of
|
||||||||||||||||||||||||||||
|
discounts (InterBank)
|
10,212 | 4,662 | 33,928 | 48,802 | 210,430 | 259,232 | 347 | |||||||||||||||||||||
| 31,043 | 9,395 | 91,409 | 131,847 | 2,388,207 | 2,520,054 | 2,506 | ||||||||||||||||||||||
|
Less FDIC-supported loans,
|
||||||||||||||||||||||||||||
|
net of discounts
|
14,904 | 7,792 | 68,931 | 91,627 | 432,222 | 523,849 | 1,794 | |||||||||||||||||||||
|
Total
|
$ | 16,139 | $ | 1,603 | $ | 22,478 | $ | 40,220 | $ | 1,955,985 | $ | 1,996,205 | $ | 712 | ||||||||||||||
|
June 30,
|
December 31,
|
|||||||
|
2013
|
2012
|
|||||||
|
(In Thousands)
|
||||||||
|
One- to four-family residential construction
|
$ | — | $ | — | ||||
|
Subdivision construction
|
1,289 | 3 | ||||||
|
Land development
|
243 | 2,471 | ||||||
|
Commercial construction
|
— | — | ||||||
|
Owner occupied one- to four-family residential
|
1,879 | 2,115 | ||||||
|
Non-owner occupied one- to four-family residential
|
1,384 | 1,905 | ||||||
|
Commercial real estate
|
11,168 | 8,324 | ||||||
|
Other residential
|
— | — | ||||||
|
Commercial business
|
7,801 | 6,249 | ||||||
|
Consumer auto
|
66 | 94 | ||||||
|
Consumer other
|
379 | 385 | ||||||
|
Home equity lines of credit
|
185 | 220 | ||||||
|
Total
|
$ | 24,394 | $ | 21,766 | ||||
|
One- to Four-
|
||||||||||||||||||||||||||||
|
Family
|
||||||||||||||||||||||||||||
|
Residential and
|
Other
|
Commercial
|
Commercial
|
Commercial
|
||||||||||||||||||||||||
|
Construction
|
Residential
|
Real Estate
|
Construction
|
Business
|
Consumer
|
Total
|
||||||||||||||||||||||
|
(In Thousands)
|
||||||||||||||||||||||||||||
|
Allowance for loan losses
|
||||||||||||||||||||||||||||
|
Balance April 1, 2013
|
$ | 5,575 | $ | 4,482 | $ | 16,812 | $ | 5,130 | $ | 5,838 | $ | 2,711 | $ | 40,548 | ||||||||||||||
|
Provision (benefit) charged to expense
|
864 | (329 | ) | 1,671 | 882 | 135 | 448 | 3,671 | ||||||||||||||||||||
|
Losses charged off
|
(322 | ) | (791 | ) | (2,187 | ) | (276 | ) | (352 | ) | (752 | ) | (4,680 | ) | ||||||||||||||
|
Recoveries
|
8 | 11 | 123 | 53 | 43 | 408 | 646 | |||||||||||||||||||||
|
Balance June 30, 2013
|
$ | 6,125 | $ | 3,373 | $ | 16,419 | $ | 5,789 | $ | 5,664 | $ | 2,815 | $ | 40,185 | ||||||||||||||
|
Balance January 1, 2013
|
$ | 6,822 | $ | 4,327 | $ | 17,441 | $ | 3,938 | $ | 5,096 | $ | 3,025 | $ | 40,649 | ||||||||||||||
|
Provision charged to expense
|
526 | 1,702 | 5,262 | 2,122 | 1,870 | 414 | 11,896 | |||||||||||||||||||||
|
Losses charged off
|
(1,240 | ) | (2,686 | ) | (6,530 | ) | (329 | ) | (1,370 | ) | (1,669 | ) | (13,824 | ) | ||||||||||||||
|
Recoveries
|
17 | 30 | 246 | 58 | 68 | 1,045 | 1,464 | |||||||||||||||||||||
|
Balance June 30, 2013
|
$ | 6,125 | $ | 3,373 | $ | 16,419 | $ | 5,789 | $ | 5,664 | $ | 2,815 | $ | 40,185 | ||||||||||||||
|
Ending balance:
|
||||||||||||||||||||||||||||
|
Individually evaluated for
|
||||||||||||||||||||||||||||
|
impairment
|
$ | 2,042 | $ | 265 | $ | 2,420 | $ | 1,134 | $ | 3,373 | $ | 161 | $ | 9,395 | ||||||||||||||
|
Collectively evaluated for
|
||||||||||||||||||||||||||||
|
impairment
|
$ | 4,084 | $ | 3,108 | $ | 13,879 | $ | 4,652 | $ | 2,290 | $ | 2,653 | $ | 30,666 | ||||||||||||||
|
Loans acquired and
|
||||||||||||||||||||||||||||
|
accounted for under ASC 310-30
|
$ | — | $ | — | $ | 119 | $ | 2 | $ | 1 | $ | 2 | $ | 124 | ||||||||||||||
|
Loans
|
||||||||||||||||||||||||||||
|
Individually evaluated for
|
||||||||||||||||||||||||||||
|
impairment
|
$ | 15,210 | $ | 11,598 | $ | 41,101 | $ | 15,610 | $ | 10,007 | $ | 1,004 | $ | 94,530 | ||||||||||||||
|
Collectively evaluated for
|
||||||||||||||||||||||||||||
|
impairment
|
$ | 286,887 | $ | 248,202 | $ | 722,986 | $ | 218,987 | $ | 269,213 | $ | 241,195 | $ | 1,987,470 | ||||||||||||||
|
Loans acquired and
|
||||||||||||||||||||||||||||
|
accounted for under ASC 310-30
|
$ | 251,122 | $ | 42,379 | $ | 101,446 | $ | 5,370 | $ | 9,409 | $ | 32,489 | $ | 442,215 | ||||||||||||||
|
One- to Four-
|
||||||||||||||||||||||||||||
|
Family
|
||||||||||||||||||||||||||||
|
Residential and
|
Other
|
Commercial
|
Commercial
|
Commercial
|
||||||||||||||||||||||||
|
Construction
|
Residential
|
Real Estate
|
Construction
|
Business
|
Consumer
|
Total
|
||||||||||||||||||||||
|
(In Thousands)
|
||||||||||||||||||||||||||||
|
Allowance for loan losses
|
||||||||||||||||||||||||||||
|
Balance April 1, 2012
|
$ | 9,413 | $ | 4,023 | $ | 20,109 | $ | 3,155 | $ | 3,059 | $ | 1,773 | $ | 41,532 | ||||||||||||||
|
Provision charged to expense
|
598 | 2,924 | 3,191 | 8,689 | 680 | 1,518 | 17,600 | |||||||||||||||||||||
|
Losses charged off
|
(2,135 | ) | (3,252 | ) | (7,795 | ) | (5,132 | ) | (512 | ) | (727 | ) | (19,553 | ) | ||||||||||||||
|
Recoveries
|
23 | 317 | 87 | 217 | 114 | 385 | 1,143 | |||||||||||||||||||||
|
Balance June 30, 2012
|
$ | 7,899 | $ | 4,012 | $ | 15,592 | $ | 6,929 | $ | 3,341 | $ | 2,949 | $ | 40,722 | ||||||||||||||
|
Balance January 1, 2012
|
$ | 11,424 | $ | 3,088 | $ | 18,390 | $ | 2,982 | $ | 2,974 | $ | 2,374 | $ | 41,232 | ||||||||||||||
|
Provision (benefit) charged to expense
|
(1,106 | ) | 3,857 | 9,316 | 13,298 | 1,246 | 1,066 | 27,677 | ||||||||||||||||||||
|
Losses charged off
|
(2,494 | ) | (3,252 | ) | (12,205 | ) | (9,592 | ) | (1,053 | ) | (962 | ) | (29,558 | ) | ||||||||||||||
|
Recoveries
|
75 | 319 | 91 | 241 | 174 | 471 | 1,371 | |||||||||||||||||||||
|
Balance June 30, 2012
|
$ | 7,899 | $ | 4,012 | $ | 15,592 | $ | 6,929 | $ | 3,341 | $ | 2,949 | $ | 40,722 | ||||||||||||||
|
One- to Four-
|
||||||||||||||||||||||||||||
|
Family
|
||||||||||||||||||||||||||||
|
Residential and
|
Other
|
Commercial
|
Commercial
|
Commercial
|
||||||||||||||||||||||||
|
Construction
|
Residential
|
Real Estate
|
Construction
|
Business
|
Consumer
|
Total
|
||||||||||||||||||||||
|
(In Thousands)
|
||||||||||||||||||||||||||||
|
Allowance for loan losses
|
||||||||||||||||||||||||||||
|
Individually evaluated for
|
||||||||||||||||||||||||||||
|
impairment
|
$ | 2,288 | $ | 1,089 | $ | 4,990 | $ | 96 | $ | 2,778 | $ | 156 | $ | 11,397 | ||||||||||||||
|
Collectively evaluated for
|
||||||||||||||||||||||||||||
|
impairment
|
$ | 4,532 | $ | 3,239 | $ | 12,443 | $ | 3,842 | $ | 2,315 | $ | 2,864 | $ | 29,235 | ||||||||||||||
|
Loans acquired and
|
||||||||||||||||||||||||||||
|
accounted for under ASC 310-30
|
$ | 1 | $ | — | $ | 9 | $ | — | $ | 4 | $ | 3 | $ | 17 | ||||||||||||||
|
Loans
|
||||||||||||||||||||||||||||
|
Individually evaluated for
|
||||||||||||||||||||||||||||
|
impairment
|
$ | 14,691 | $ | 16,405 | $ | 48,476 | $ | 12,009 | $ | 10,064 | $ | 980 | $ | 102,625 | ||||||||||||||
|
Collectively evaluated for
|
||||||||||||||||||||||||||||
|
impairment
|
$ | 279,502 | $ | 251,113 | $ | 687,663 | $ | 201,065 | $ | 254,567 | $ | 219,670 | $ | 1,893,580 | ||||||||||||||
|
Loans acquired and
|
||||||||||||||||||||||||||||
|
accounted for under ASC 310-30
|
$ | 278,889 | $ | 53,280 | $ | 129,128 | $ | 7,997 | $ | 14,939 | $ | 39,616 | $ | 523,849 | ||||||||||||||
|
·
|
The one-to four-family residential and construction segment includes the one- to four-family residential construction, subdivision construction, owner occupied one- to four-family residential and non-owner occupied one- to four-family residential classes
|
|
·
|
The other residential segment corresponds to the other residential class
|
|
·
|
The commercial real estate segment includes the commercial real estate and industrial revenue bonds classes
|
|
·
|
The commercial construction segment includes the land development and commercial construction classes
|
|
·
|
The commercial business segment corresponds to the commercial business class
|
|
·
|
The consumer segment includes the consumer auto, consumer other and home equity lines of credit classes
|
|
June 30, 2013
|
||||||||||||
|
Unpaid
|
||||||||||||
|
Recorded
|
Principal
|
Specific
|
||||||||||
|
Balance
|
Balance
|
Allowance
|
||||||||||
|
(In Thousands)
|
||||||||||||
|
One- to four-family residential construction
|
$ | 286 | $ | 286 | $ | — | ||||||
|
Subdivision construction
|
4,683 | 4,687 | 729 | |||||||||
|
Land development
|
15,610 | 16,010 | 1,135 | |||||||||
|
Commercial construction
|
— | — | — | |||||||||
|
Owner occupied one- to four-family residential
|
4,612 | 4,962 | 408 | |||||||||
|
Non-owner occupied one- to four-family residential
|
5,629 | 5,778 | 905 | |||||||||
|
Commercial real estate
|
41,102 | 43,490 | 2,420 | |||||||||
|
Other residential
|
11,597 | 11,598 | 265 | |||||||||
|
Commercial business
|
7,309 | 8,795 | 3,373 | |||||||||
|
Industrial revenue bonds
|
2,698 | 2,778 | — | |||||||||
|
Consumer auto
|
99 | 115 | 15 | |||||||||
|
Consumer other
|
639 | 721 | 95 | |||||||||
|
Home equity lines of credit
|
266 | 278 | 50 | |||||||||
|
Total
|
$ | 94,530 | $ | 99,498 | $ | 9,395 | ||||||
|
Three Months Ended
|
Six Months Ended
|
|||||||||||||||
|
June 30, 2013
|
June 30, 2013
|
|||||||||||||||
|
Average
|
Average
|
|||||||||||||||
|
Investment
|
Interest
|
Investment
|
Interest
|
|||||||||||||
|
in Impaired
|
Income
|
in Impaired
|
Income
|
|||||||||||||
|
Loans
|
Recognized
|
Loans
|
Recognized
|
|||||||||||||
|
(In Thousands)
|
||||||||||||||||
|
One- to four-family residential construction
|
$ | 95 | $ | 5 | $ | 48 | $ | 5 | ||||||||
|
Subdivision construction
|
3,087 | 76 | 2,778 | 106 | ||||||||||||
|
Land development
|
12,495 | 240 | 11,752 | 366 | ||||||||||||
|
Commercial construction
|
— | — | — | — | ||||||||||||
|
Owner occupied one- to four-family residential
|
4,704 | 63 | 4,831 | 116 | ||||||||||||
|
Non-owner occupied one- to four-family residential
|
4,662 | 100 | 5,251 | 161 | ||||||||||||
|
Commercial real estate
|
46,102 | 364 | 46,164 | 740 | ||||||||||||
|
Other residential
|
14,836 | 113 | 16,620 | 217 | ||||||||||||
|
Commercial business
|
7,528 | 16 | 7,473 | 75 | ||||||||||||
|
Industrial revenue bonds
|
2,702 | 14 | 2,703 | 14 | ||||||||||||
|
Consumer auto
|
105 | 2 | 119 | 4 | ||||||||||||
|
Consumer other
|
648 | 21 | 662 | 32 | ||||||||||||
|
Home equity lines of credit
|
278 | 2 | 308 | 10 | ||||||||||||
|
Total
|
$ | 97,242 | $ | 1,016 | $ | 98,709 | $ | 1,846 | ||||||||
|
At or for the Year Ended December 31, 2012
|
||||||||||||||||||||
|
Average
|
||||||||||||||||||||
|
Unpaid
|
Investment
|
Interest
|
||||||||||||||||||
|
Recorded
|
Principal
|
Specific
|
in Impaired
|
Income
|
||||||||||||||||
|
Balance
|
Balance
|
Allowance
|
Loans
|
Recognized
|
||||||||||||||||
|
(In Thousands)
|
||||||||||||||||||||
|
One- to four-family residential construction
|
$ | 410 | $ | 410 | $ | 239 | $ | 679 | $ | 22 | ||||||||||
|
Subdivision construction
|
2,577 | 2,580 | 688 | 8,399 | 143 | |||||||||||||||
|
Land development
|
12,009 | 13,204 | 96 | 12,614 | 656 | |||||||||||||||
|
Commercial construction
|
— | — | — | 383 | — | |||||||||||||||
|
Owner occupied one- to four-family residential
|
5,627 | 6,037 | 550 | 5,174 | 295 | |||||||||||||||
|
Non-owner occupied one- to four-family residential
|
6,077 | 6,290 | 811 | 10,045 | 330 | |||||||||||||||
|
Commercial real estate
|
48,476 | 49,779 | 4,990 | 45,181 | 2,176 | |||||||||||||||
|
Other residential
|
16,405 | 16,405 | 1,089 | 16,951 | 836 | |||||||||||||||
|
Commercial business
|
7,279 | 8,615 | 2,778 | 4,851 | 329 | |||||||||||||||
|
Industrial revenue bonds
|
2,785 | 2,865 | — | 3,034 | 5 | |||||||||||||||
|
Consumer auto
|
143 | 170 | 22 | 157 | 17 | |||||||||||||||
|
Consumer other
|
602 | 682 | 89 | 654 | 65 | |||||||||||||||
|
Home equity lines of credit
|
235 | 248 | 45 | 162 | 15 | |||||||||||||||
|
Total
|
$ | 102,625 | $ | 107,285 | $ | 11,397 | $ | 108,284 | $ | 4,889 | ||||||||||
|
June 30, 2012
|
||||||||||||
|
Unpaid
|
||||||||||||
|
Recorded
|
Principal
|
Specific
|
||||||||||
|
Balance
|
Balance
|
Allowance
|
||||||||||
|
(In Thousands)
|
||||||||||||
|
One- to four-family residential construction
|
$ | 687 | $ | 687 | $ | 251 | ||||||
|
Subdivision construction
|
3,810 | 5,486 | 262 | |||||||||
|
Land development
|
19,233 | 20,710 | 3,842 | |||||||||
|
Commercial construction
|
1,530 | 1,530 | 134 | |||||||||
|
Owner occupied one- to four-family residential
|
4,856 | 5,309 | 488 | |||||||||
|
Non-owner occupied one- to four-family residential
|
10,965 | 11,402 | 1,028 | |||||||||
|
Commercial real estate
|
39,634 | 41,887 | 1,045 | |||||||||
|
Other residential
|
17,335 | 18,600 | 246 | |||||||||
|
Commercial business
|
3,447 | 4,365 | 517 | |||||||||
|
Industrial revenue bonds
|
3,508 | 3,588 | 98 | |||||||||
|
Consumer auto
|
158 | 180 | 25 | |||||||||
|
Consumer other
|
669 | 774 | 99 | |||||||||
|
Home equity lines of credit
|
90 | 98 | 23 | |||||||||
|
Total
|
$ | 105,922 | $ | 114,616 | $ | 8,058 | ||||||
|
Three Months Ended
|
Six Months Ended
|
|||||||||||||||
|
June 30, 2012
|
June 30, 2012
|
|||||||||||||||
|
Average
|
Average
|
|||||||||||||||
|
Investment
|
Interest
|
Investment
|
Interest
|
|||||||||||||
|
in Impaired
|
Income
|
in Impaired
|
Income
|
|||||||||||||
|
Loans
|
Recognized
|
Loans
|
Recognized
|
|||||||||||||
|
(In Thousands)
|
||||||||||||||||
|
One- to four-family residential construction
|
$ | 687 | $ | 11 | $ | 801 | $ | 22 | ||||||||
|
Subdivision construction
|
10,206 | 107 | 13,743 | 287 | ||||||||||||
|
Land development
|
13,206 | 389 | 10,516 | 481 | ||||||||||||
|
Commercial construction
|
510 | 35 | 255 | 35 | ||||||||||||
|
Owner occupied one- to four-family residential
|
5,088 | 115 | 5,156 | 162 | ||||||||||||
|
Non-owner occupied one- to four-family residential
|
11,579 | 293 | 11,087 | 454 | ||||||||||||
|
Commercial real estate
|
38,718 | 988 | 45,031 | 1,524 | ||||||||||||
|
Other residential
|
22,419 | 463 | 17,252 | 581 | ||||||||||||
|
Commercial business
|
3,742 | 84 | 4,245 | 160 | ||||||||||||
|
Industrial revenue bonds
|
3,508 | — | 3,042 | — | ||||||||||||
|
Consumer auto
|
158 | 8 | 167 | 12 | ||||||||||||
|
Consumer other
|
688 | 40 | 655 | 62 | ||||||||||||
|
Home equity lines of credit
|
111 | 3 | 137 | 6 | ||||||||||||
|
Total
|
$ | 110,620 | $ | 2,536 | $ | 112,087 | $ | 3,786 | ||||||||
|
Three Months Ended June 30, 2013
|
||||||||||||||||
|
Total
|
||||||||||||||||
|
Interest Only
|
Term
|
Combination
|
Modification
|
|||||||||||||
|
(In Thousands)
|
||||||||||||||||
|
Mortgage loans on real estate:
|
||||||||||||||||
|
One- to four-family
|
||||||||||||||||
|
residential construction
|
$ | — | $ | 286 | $ | — | $ | 286 | ||||||||
|
Subdivision construction
|
— | 1,816 | — | 1,816 | ||||||||||||
|
Land development
|
— | 62 | — | 62 | ||||||||||||
|
Residential-one-to four-family
|
— | 1,087 | — | 1,087 | ||||||||||||
|
Consumer
|
— | 3 | — | 3 | ||||||||||||
| $ | — | $ | 3,254 | $ | — | $ | 3,254 | |||||||||
|
Six Months Ended June 30, 2013
|
||||||||||||||||
|
Total
|
||||||||||||||||
|
Interest Only
|
Term
|
Combination
|
Modification
|
|||||||||||||
|
(In Thousands)
|
||||||||||||||||
|
Mortgage loans on real estate:
|
||||||||||||||||
|
One- to four-family
|
||||||||||||||||
|
residential construction
|
$ | — | $ | 286 | $ | — | $ | 286 | ||||||||
|
Subdivision construction
|
— | 1,816 | — | 1,816 | ||||||||||||
|
Land development
|
— | 62 | — | 62 | ||||||||||||
|
Residential-one-to four-family
|
— | 1,423 | — | 1,423 | ||||||||||||
|
Other residential
|
— | 1,874 | — | 1,874 | ||||||||||||
|
Consumer
|
— | 169 | — | 169 | ||||||||||||
| $ | — | $ | 5,630 | $ | — | $ | 5,630 | |||||||||
| June 30, 2013 | ||||||||||||||||||||||||
|
Special
|
||||||||||||||||||||||||
|
Satisfactory
|
Watch
|
Mention
|
Substandard
|
Doubtful
|
Total
|
|||||||||||||||||||
|
(In Thousands)
|
||||||||||||||||||||||||
|
One- to four-family residential
|
||||||||||||||||||||||||
|
construction
|
$ | 37,447 | $ | — | $ | — | $ | — | $ | — | $ | 37,447 | ||||||||||||
|
Subdivision construction
|
30,636 | 2,860 | — | 2,139 | — | 35,635 | ||||||||||||||||||
|
Land development
|
47,801 | 1,899 | — | 14,056 | — | 63,756 | ||||||||||||||||||
|
Commercial construction
|
170,841 | — | — | — | — | 170,841 | ||||||||||||||||||
|
Owner occupied one- to four-
|
||||||||||||||||||||||||
|
family residential
|
80,571 | 499 | — | 2,375 | — | 83,445 | ||||||||||||||||||
|
Non-owner occupied one- to four-
|
||||||||||||||||||||||||
|
family residential
|
138,080 | 3,420 | — | 4,070 | — | 145,570 | ||||||||||||||||||
|
Commercial real estate
|
666,427 | 33,319 | — | 23,488 | — | 723,234 | ||||||||||||||||||
|
Other residential
|
242,057 | 15,570 | — | 2,173 | — | 259,800 | ||||||||||||||||||
|
Commercial business
|
271,073 | 3,546 | — | 3,601 | 1,000 | 279,220 | ||||||||||||||||||
|
Industrial revenue bonds
|
38,156 | 675 | — | 2,023 | — | 40,854 | ||||||||||||||||||
|
Consumer auto
|
104,123 | — | — | 92 | — | 104,215 | ||||||||||||||||||
|
Consumer other
|
83,257 | — | — | 517 | — | 83,774 | ||||||||||||||||||
|
Home equity lines of credit
|
52,175 | — | 1,768 | 266 | — | 54,209 | ||||||||||||||||||
|
FDIC-supported loans, net of
|
||||||||||||||||||||||||
|
Discounts (TeamBank)
|
59,707 | — | — | 4 | — | 59,711 | ||||||||||||||||||
|
FDIC-supported loans, net of
|
||||||||||||||||||||||||
|
discounts (Vantus Bank)
|
76,311 | — | — | 69 | — | 76,380 | ||||||||||||||||||
|
FDIC-supported loans, net of
|
||||||||||||||||||||||||
|
discounts (Sun Security Bank)
|
75,058 | — | — | 498 | — | 75,556 | ||||||||||||||||||
|
FDIC-supported loans, net of
|
||||||||||||||||||||||||
|
discounts (InterBank)
|
230,568 | — | — | — | — | 230,568 | ||||||||||||||||||
|
Total
|
$ | 2,404,288 | $ | 61,788 | $ | 1,768 | $ | 55,371 | $ | 1,000 | $ | 2,524,215 | ||||||||||||
| December 31, 2012 | ||||||||||||||||||||||||
|
Special
|
||||||||||||||||||||||||
|
Satisfactory
|
Watch
|
Mention
|
Substandard
|
Doubtful
|
Total
|
|||||||||||||||||||
|
(In Thousands)
|
||||||||||||||||||||||||
|
One- to four-family residential
|
||||||||||||||||||||||||
|
construction
|
$ | 28,662 | $ | — | $ | — | $ | 409 | $ | — | $ | 29,071 | ||||||||||||
|
Subdivision construction
|
31,156 | 2,993 | — | 1,656 | — | 35,805 | ||||||||||||||||||
|
Land development
|
47,388 | 3,887 | — | 11,284 | — | 62,559 | ||||||||||||||||||
|
Commercial construction
|
150,515 | — | — | — | — | 150,515 | ||||||||||||||||||
|
Owner occupied one- to four-
|
||||||||||||||||||||||||
|
family residential
|
79,411 | 792 | — | 3,656 | — | 83,859 | ||||||||||||||||||
|
Non-owner occupied one- to four-
|
||||||||||||||||||||||||
|
family residential
|
132,073 | 7,884 | — | 5,501 | — | 145,458 | ||||||||||||||||||
|
Commercial real estate
|
619,387 | 42,753 | — | 30,237 | — | 692,377 | ||||||||||||||||||
|
Other residential
|
252,238 | 6,793 | — | 8,487 | — | 267,518 | ||||||||||||||||||
|
Commercial business
|
253,165 | 4,286 | — | 6,180 | 1,000 | 264,631 | ||||||||||||||||||
|
Industrial revenue bonds
|
40,977 | 675 | — | 2,110 | — | 43,762 | ||||||||||||||||||
|
Consumer auto
|
82,467 | — | — | 143 | — | 82,610 | ||||||||||||||||||
|
Consumer other
|
83,250 | — | — | 565 | — | 83,815 | ||||||||||||||||||
|
Home equity lines of credit
|
52,076 | — | 1,913 | 236 | — | 54,225 | ||||||||||||||||||
|
FDIC-supported loans, net of
|
||||||||||||||||||||||||
|
Discounts (TeamBank)
|
77,568 | — | — | 47 | — | 77,615 | ||||||||||||||||||
|
FDIC-supported loans, net of
|
||||||||||||||||||||||||
|
discounts (Vantus Bank)
|
95,281 | — | — | 202 | — | 95,483 | ||||||||||||||||||
|
FDIC-supported loans, net of
|
||||||||||||||||||||||||
|
discounts (Sun Security Bank)
|
91,519 | — | — | — | — | 91,519 | ||||||||||||||||||
|
FDIC-supported loans, net of
|
||||||||||||||||||||||||
|
discounts (InterBank)
|
259,210 | — | — | 22 | — | 259,232 | ||||||||||||||||||
|
Total
|
$ | 2,376,343 | $ | 70,063 | $ | 1,913 | $ | 70,735 | $ | 1,000 | $ | 2,520,054 | ||||||||||||
|
Three Months Ended
|
Six Months Ended
|
|||||||||
|
June 30, 2013
|
June 30, 2013
|
|||||||||
|
(In Thousands, Except Per Share Data
|
||||||||||
|
and Basis Points Data)
|
||||||||||
|
Impact on net interest income/
|
||||||||||
|
net interest margin (in basis points)
|
$ | 7,663 |
88 bps
|
$ | 18,096 |
103 bps
|
||||
|
Non-interest income
|
(6,628 | ) | (14,963 | ) | ||||||
|
Net impact to pre-tax income
|
$ | 1,035 | $ | 3,133 | ||||||
|
Net impact net of taxes
|
$ | 673 | $ | 2,036 | ||||||
|
Impact to diluted earnings per common share
|
$ | 0.05 | $ | 0.15 | ||||||
|
Three Months Ended
|
Six Months Ended
|
|||||||||
|
June 30, 2012
|
June 30, 2012
|
|||||||||
|
(In Thousands, Except Per Share Data
|
||||||||||
|
and Basis Points Data)
|
||||||||||
|
Impact on net interest income/
|
||||||||||
|
net interest margin (in basis points)
|
$ | 8,017 |
86 bps
|
$ | 14,180 |
80 bps
|
||||
|
Non-interest income
|
(6,619 | ) | (11,150 | ) | ||||||
|
Net impact to pre-tax income
|
$ | 1,398 | $ | 3,030 | ||||||
|
Net impact net of taxes
|
$ | 909 | $ | 1,970 | ||||||
|
Impact to diluted earnings per common share
|
$ | 0.07 | $ | 0.14 | ||||||
|
June 30, 2013
|
||||||||
|
Foreclosed
|
||||||||
|
Loans
|
Assets
|
|||||||
|
(In Thousands)
|
||||||||
|
Initial basis for loss sharing determination,
|
||||||||
|
net of activity since acquisition date
|
$ | 65,038 | $ | 4,039 | ||||
|
Non-credit premium/(discount), net of activity since acquisition date
|
— | — | ||||||
|
Reclassification from nonaccretable discount to accretable discount
|
||||||||
|
due to change in expected losses (net of accretion to date)
|
(3,640 | ) | — | |||||
|
Original estimated fair value of assets, net of activity since
|
||||||||
|
acquisition date
|
(59,711 | ) | (3,386 | ) | ||||
|
Expected loss remaining
|
1,687 | 653 | ||||||
|
Assumed loss sharing recovery percentage
|
81 | % | 80 | % | ||||
|
Estimated loss sharing value
|
1,367 | 523 | ||||||
|
Indemnification asset to be amortized resulting from
|
||||||||
|
change in expected losses
|
1,993 | — | ||||||
|
Accretable discount on FDIC indemnification asset
|
(90 | ) | — | |||||
|
FDIC indemnification asset
|
$ | 3,270 | $ | 523 | ||||
|
December 31, 2012
|
||||||||
|
Foreclosed
|
||||||||
|
Loans
|
Assets
|
|||||||
|
(In Thousands)
|
||||||||
|
Initial basis for loss sharing determination,
|
||||||||
|
net of activity since acquisition date
|
$ | 86,657 | $ | 9,056 | ||||
|
Non-credit premium/(discount), net of activity since acquisition date
|
(134 | ) | — | |||||
|
Reclassification from nonaccretable discount to accretable discount
|
||||||||
|
due to change in expected losses (net of accretion to date)
|
(5,120 | ) | — | |||||
|
Original estimated fair value of assets, net of activity since
|
||||||||
|
acquisition date
|
(77,615 | ) | (7,669 | ) | ||||
|
Expected loss remaining
|
3,788 | 1,387 | ||||||
|
Assumed loss sharing recovery percentage
|
81 | % | 82 | % | ||||
|
Estimated loss sharing value
|
3,051 | 1,141 | ||||||
|
Indemnification asset to be amortized resulting from
|
||||||||
|
change in expected losses
|
4,036 | — | ||||||
|
Accretable discount on FDIC indemnification asset
|
(332 | ) | — | |||||
|
FDIC indemnification asset
|
$ | 6,755 | $ | 1,141 | ||||
|
June 30, 2013
|
||||||||
|
Foreclosed
|
||||||||
|
Loans
|
Assets
|
|||||||
|
(In Thousands)
|
||||||||
|
Initial basis for loss sharing determination,
|
||||||||
|
net of activity since acquisition date
|
$ | 80,012 | $ | 3,523 | ||||
|
Non-credit premium/(discount), net of activity since acquisition date
|
(24 | ) | — | |||||
|
Reclassification from nonaccretable discount to accretable discount
|
||||||||
|
due to change in expected losses (net of accretion to date)
|
(2,620 | ) | — | |||||
|
Original estimated fair value of assets, net of activity since
|
||||||||
|
acquisition date
|
(76,380 | ) | (2,331 | ) | ||||
|
Expected loss remaining
|
988 | 1,192 | ||||||
|
Assumed loss sharing recovery percentage
|
75 | % | 80 | % | ||||
|
Estimated loss sharing value
|
744 | 953 | ||||||
|
Indemnification asset to be amortized resulting from
|
||||||||
|
change in expected losses
|
2,079 | — | ||||||
|
Accretable discount on FDIC indemnification asset
|
(107 | ) | — | |||||
|
FDIC indemnification asset
|
$ | 2,716 | $ | 953 | ||||
|
December 31, 2012
|
||||||||
|
Foreclosed
|
||||||||
|
Loans
|
Assets
|
|||||||
|
(In Thousands)
|
||||||||
|
Initial basis for loss sharing determination,
|
||||||||
|
net of activity since acquisition date
|
$ | 103,910 | $ | 4,383 | ||||
|
Non-credit premium/(discount), net of activity since acquisition date
|
(104 | ) | — | |||||
|
Reclassification from nonaccretable discount to accretable discount
|
||||||||
|
due to change in expected losses (net of accretion to date)
|
(5,429 | ) | — | |||||
|
Original estimated fair value of assets, net of activity since
|
||||||||
|
acquisition date
|
(95,483 | ) | (3,214 | ) | ||||
|
Expected loss remaining
|
2,894 | 1,169 | ||||||
|
Assumed loss sharing recovery percentage
|
78 | % | 80 | % | ||||
|
Estimated loss sharing value
|
2,270 | 935 | ||||||
|
Indemnification asset to be amortized resulting from
|
||||||||
|
change in expected losses
|
4,343 | — | ||||||
|
Accretable discount on FDIC indemnification asset
|
(240 | ) | — | |||||
|
FDIC indemnification asset
|
$ | 6,373 | $ | 935 | ||||
|
June 30, 2013
|
||||||||
|
Foreclosed
|
||||||||
|
Loans
|
Assets
|
|||||||
|
(In Thousands)
|
||||||||
|
Initial basis for loss sharing determination,
|
||||||||
|
net of activity since acquisition date
|
$ | 96,836 | $ | 8,125 | ||||
|
Non-credit premium/(discount), net of activity since acquisition date
|
(462 | ) | — | |||||
|
Reclassification from nonaccretable discount to accretable discount
due to change in expected losses (net of accretion to date)
|
(3,773 | ) | — | |||||
|
Original estimated fair value of assets, net of activity since
|
||||||||
|
acquisition date
|
(75,556 | ) | (4,870 | ) | ||||
|
Expected loss remaining
|
17,045 | 3,255 | ||||||
|
Assumed loss sharing recovery percentage
|
74 | % | 80 | % | ||||
|
Estimated loss sharing value
|
12,619 | 2,604 | ||||||
|
Indemnification asset to be amortized resulting from
|
||||||||
|
change in expected losses
|
3,018 | — | ||||||
|
Accretable discount on FDIC indemnification asset
|
(1,106 | ) | (93 | ) | ||||
|
FDIC indemnification asset
|
$ | 14,531 | $ | 2,511 | ||||
|
December 31, 2012
|
||||||||
|
Foreclosed
|
||||||||
|
Loans
|
Assets
|
|||||||
|
(In Thousands)
|
||||||||
|
Initial basis for loss sharing determination,
|
||||||||
|
net of activity since acquisition date
|
$ | 126,933 | $ | 10,980 | ||||
|
Non-credit premium/(discount), net of activity since acquisition date
|
(1,079 | ) | — | |||||
|
Reclassification from nonaccretable discount to accretable discount
|
||||||||
|
due to change in expected losses (net of accretion to date)
|
(4,182 | ) | — | |||||
|
Original estimated fair value of assets, net of activity since
|
||||||||
|
acquisition date
|
(91,519 | ) | (6,227 | ) | ||||
|
Expected loss remaining
|
30,153 | 4,753 | ||||||
|
Assumed loss sharing recovery percentage
|
76 | % | 80 | % | ||||
|
Estimated loss sharing value
|
23,017 | 3,785 | ||||||
|
Indemnification asset to be amortized resulting from
|
||||||||
|
change in expected losses
|
3,345 | — | ||||||
|
Accretable discount on FDIC indemnification asset
|
(2,867 | ) | (561 | ) | ||||
|
FDIC indemnification asset
|
$ | 23,495 | $ | 3,224 | ||||
|
June 30, 2013
|
||||||||
|
Foreclosed
|
||||||||
|
Loans
|
Assets
|
|||||||
|
(In Thousands)
|
||||||||
|
Initial basis for loss sharing determination,
|
||||||||
|
net of activity since acquisition date
|
$ | 313,382 | $ | 5,038 | ||||
|
Non-credit premium/(discount), net of activity since acquisition date
|
2,211 | — | ||||||
|
Reclassification from nonaccretable discount to accretable discount
|
||||||||
|
due to change in expected losses (net of accretion to date)
|
(11,441 | ) | — | |||||
|
Original estimated fair value of assets, net of activity since
|
||||||||
|
acquisition date
|
(230,568 | ) | (4,327 | ) | ||||
|
Expected loss remaining
|
73,584 | 711 | ||||||
|
Assumed loss sharing recovery percentage
|
81 | % | 80 | % | ||||
|
Estimated loss sharing value
|
59,822 | 569 | ||||||
|
FDIC loss share clawback
|
1,504 | — | ||||||
|
Indemnification asset to be amortized resulting from
|
||||||||
|
change in expected losses
|
9,153 | — | ||||||
|
Accretable discount on FDIC indemnification asset
|
(5,882 | ) | (33 | ) | ||||
|
FDIC indemnification asset
|
$ | 64,597 | $ | 536 | ||||
|
December 31, 2012
|
||||||||
|
Foreclosed
|
||||||||
|
Loans
|
Assets
|
|||||||
|
(In Thousands)
|
||||||||
|
Initial basis for loss sharing determination,
|
||||||||
|
net of activity since acquisition date
|
$ | 356,844 | $ | 2,001 | ||||
|
Non-credit premium/(discount), net of activity since acquisition date
|
2,541 | — | ||||||
|
Reclassification from nonaccretable discount to accretable discount
|
||||||||
|
due to change in expected losses (net of accretion to date)
|
(9,897 | ) | — | |||||
|
Original estimated fair value of assets, net of activity since
|
||||||||
|
acquisition date
|
(259,232 | ) | (1,620 | ) | ||||
|
Expected loss remaining
|
90,256 | 381 | ||||||
|
Assumed loss sharing recovery percentage
|
81 | % | 80 | % | ||||
|
Estimated loss sharing value
|
73,151 | 304 | ||||||
|
FDIC loss share clawback
|
1,000 | — | ||||||
|
Indemnification asset to be amortized resulting from
|
||||||||
|
change in expected losses
|
7,871 | — | ||||||
|
Accretable discount on FDIC indemnification asset
|
(6,893 | ) | (93 | ) | ||||
|
FDIC indemnification asset
|
$ | 75,129 | $ | 211 | ||||
|
Sun Security
|
||||||||||||||||
|
TeamBank
|
Vantus Bank
|
Bank
|
InterBank
|
|||||||||||||
|
(In Thousands)
|
||||||||||||||||
|
Balance, April 1, 2012
|
$ | 14,514 | $ | 19,702 | $ | 10,317 | $ | — | ||||||||
|
Additions
|
— | — | — | 46,078 | ||||||||||||
|
Accretion
|
(4,620 | ) | (5,124 | ) | (4,482 | ) | (2,851 | ) | ||||||||
|
Reclassification from nonaccretable yield
(1)
|
1,509 | 3,304 | 3,940 | — | ||||||||||||
|
Balance, June 30, 2012
|
$ | 11,403 | $ | 17,882 | $ | 9,775 | $ | 43,227 | ||||||||
|
Balance April 1, 2013
|
$ | 11,339 | $ | 11,522 | $ | 10,015 | $ | 40,264 | ||||||||
|
Accretion
|
(1,919 | ) | (2,362 | ) | (4,038 | ) | (6,360 | ) | ||||||||
|
Reclassification from nonaccretable difference
(1)
|
(810 | ) | (513 | ) | 4,078 | 1,063 | ||||||||||
|
Balance, June 30, 2013
|
$ | 8,610 | $ | 8,647 | $ | 10,055 | $ | 34,967 | ||||||||
|
(1)
|
Represents increases in estimated cash flows expected to be received from the acquired loan pools, primarily due to lower estimated credit losses. The numbers also include changes in expected accretion of the loan pools for TeamBank, Vantus Bank, Sun Security Bank and InterBank for the three months ended June 30, 2013, totaling $0, $0, $3.0 million and $2.6 million, respectively, and the three months ended June 30, 2012, totaling $2.5 million, $2.9 million, $3.4 million and $0, respectively.
|
|
Sun Security
|
||||||||||||||||
|
TeamBank
|
Vantus Bank
|
Bank
|
InterBank
|
|||||||||||||
|
(In Thousands)
|
||||||||||||||||
|
Balance, January 1, 2012
|
$ | 14,662 | $ | 21,967 | $ | 12,769 | $ | — | ||||||||
|
Additions
|
— | — | — | 46,078 | ||||||||||||
|
Accretion
|
(9,090 | ) | (10,340 | ) | (7,082 | ) | (2,851 | ) | ||||||||
|
Reclassification from nonaccretable difference
(1)
|
5,831 | 6,255 | 4,088 | — | ||||||||||||
|
Balance, June 30, 2012
|
$ | 11,403 | $ | 17,882 | $ | 9,775 | $ | 43,227 | ||||||||
|
Balance January 1, 2013
|
$ | 12,128 | $ | 13,538 | $ | 11,259 | $ | 42,574 | ||||||||
|
Accretion
|
(5,600 | ) | (5,659 | ) | (8,226 | ) | (13,389 | ) | ||||||||
|
Reclassification from nonaccretable difference
(1)
|
2,082 | 768 | 7,022 | 5,782 | ||||||||||||
|
Balance, June 30, 2013
|
$ | 8,610 | $ | 8,647 | $ | 10,055 | $ | 34,967 | ||||||||
|
(1)
|
Represents increases in estimated cash flows expected to be received from the acquired loan pools, primarily due to lower estimated credit losses. The numbers also include changes in expected accretion of the loan pools for TeamBank, Vantus Bank, Sun Security Bank and InterBank for the six months ended June 30, 2013, totaling $2.1 million, $516,000, $4.7 million and $7.6 million, respectively, and the six months ended June 30, 2012, totaling $2.9 million, $3.7 million, $3.4 million and $0, respectively.
|
|
June 30,
|
December 31,
|
|||||||
|
2013
|
2012
|
|||||||
|
(In Thousands)
|
||||||||
|
One-to four-family construction
|
$ | 324 | $ | 627 | ||||
|
Subdivision construction
|
13,877 | 17,147 | ||||||
|
Land development
|
14,903 | 14,058 | ||||||
|
Commercial construction
|
3,666 | 6,511 | ||||||
|
One-to four-family residential
|
1,390 | 1,200 | ||||||
|
Other residential
|
7,116 | 7,232 | ||||||
|
Commercial real estate
|
3,850 | 2,738 | ||||||
|
Commercial business
|
112 | 160 | ||||||
|
Consumer
|
940 | 471 | ||||||
| 46,178 | 50,144 | |||||||
|
FDIC-supported foreclosed assets, net of discounts
|
14,915 | 18,730 | ||||||
| $ | 61,093 | $ | 68,874 | |||||
|
Three Months Ended June 30,
|
||||||||
|
2013
|
2012
|
|||||||
|
(In Thousands)
|
||||||||
|
Net gain on sales of foreclosed assets
|
$ | (281 | ) | $ | (866 | ) | ||
|
Valuation write-downs
|
614 | 1,131 | ||||||
|
Operating expenses, net of rental income
|
1,022 | 963 | ||||||
| $ | 1,355 | $ | 1,228 | |||||
|
Six Months Ended June 30,
|
||||||||
|
2013
|
2012
|
|||||||
|
(In Thousands)
|
||||||||
|
Net gain on sales of foreclosed assets
|
$ | (282 | ) | $ | (1,397 | ) | ||
|
Valuation write-downs
|
1,056 | 1,400 | ||||||
|
Operating expenses, net of rental income
|
1,636 | 1,665 | ||||||
| $ | 2,410 | $ | 1,668 | |||||
|
June 30,
|
December 31,
|
|||||||
|
2013
|
2012
|
|||||||
|
(In Thousands)
|
||||||||
|
Time Deposits:
|
||||||||
|
0.00% - 0.99%
|
$ | 636,093 | $ | 666,573 | ||||
|
1.00% - 1.99%
|
302,119 | 426,589 | ||||||
|
2.00% - 2.99%
|
82,915 | 90,539 | ||||||
|
3.00% - 3.99%
|
11,604 | 13,240 | ||||||
|
4.00% - 4.99%
|
3,429 | 5,190 | ||||||
|
5.00% and above
|
1,565 | 1,816 | ||||||
|
Total time deposits (0.76% - 1.00%)
|
1,037,725 | 1,203,947 | ||||||
|
Non-interest-bearing demand deposits
|
424,776 | 385,778 | ||||||
|
Interest-bearing demand and savings deposits (0.22% - 0.33%)
|
1,551,395 | 1,563,468 | ||||||
|
Total Deposits
|
$ | 3,013,896 | $ | 3,153,193 | ||||
|
Three Months Ended June 30,
|
||||||||
|
2013
|
2012
|
|||||||
|
(In Thousands)
|
||||||||
|
Tax at statutory rate
|
35.0 | % | 35.0 | % | ||||
|
Nontaxable interest and dividends
|
(4.3 | ) | (1.6 | ) | ||||
|
Tax credits
|
(19.3 | ) | (4.7 | ) | ||||
|
State taxes
|
1.9 | 0.2 | ||||||
|
Other
|
0.5 | 0.7 | ||||||
| 13.8 | % | 29.6 | % | |||||
|
Six Months Ended June 30,
|
||||||||
|
2013
|
2012
|
|||||||
|
(In Thousands)
|
||||||||
|
Tax at statutory rate
|
35.0 | % | 35.0 | % | ||||
|
Nontaxable interest and dividends
|
(4.3 | ) | (2.6 | ) | ||||
|
Tax credits
|
(18.3 | ) | (7.4 | ) | ||||
|
State taxes
|
1.7 | 0.3 | ||||||
|
Other
|
0.4 | 0.2 | ||||||
| 14.5 | % | 25.5 | % | |||||
|
·
|
Quoted prices in active markets for identical assets or liabilities (Level 1): Inputs that are quoted unadjusted prices in active markets for identical assets that the Company has the ability to access at the measurement date. An active market for the asset is a market in which transactions for the asset or liability occur with sufficient frequency and volume to provide pricing information on an ongoing basis.
|
|
·
|
Other observable inputs (Level 2): Inputs that reflect the assumptions market participants would use in pricing the asset or liability developed based on market data obtained from sources independent of the reporting entity including quoted prices for similar assets, quoted prices for securities in inactive markets and inputs derived principally from or corroborated by observable market data by correlation or other means.
|
|
·
|
Significant unobservable inputs (Level 3): Inputs that reflect assumptions of a source independent of the reporting entity or the reporting entity's own assumptions that are supported by little or no market activity or observable inputs.
|
|
Fair value measurements using
|
||||||||||||||||
|
Quoted prices
|
||||||||||||||||
|
in active
|
||||||||||||||||
|
markets
|
Other
|
Significant
|
||||||||||||||
|
for identical
|
observable
|
unobservable
|
||||||||||||||
|
assets
|
inputs
|
inputs
|
||||||||||||||
|
Fair value
|
(Level 1)
|
(Level 2)
|
(Level 3)
|
|||||||||||||
|
(In Thousands)
|
||||||||||||||||
|
June 30, 2013
|
||||||||||||||||
|
U.S. government agencies
|
$ | 19,144 | $ | — | $ | 19,144 | $ | — | ||||||||
|
Mortgage-backed securities
|
557,790 | — | 557,790 | — | ||||||||||||
|
Small Business Administration loan pools
|
49,548 | — | 49,548 | — | ||||||||||||
|
States and political subdivisions
|
115,483 | — | 115,483 | — | ||||||||||||
|
Equity securities
|
2,474 | — | 2,474 | — | ||||||||||||
|
Mortgage servicing rights
|
246 | — | — | 246 | ||||||||||||
|
Interest rate swap asset
|
1,379 | — | — | 1,379 | ||||||||||||
|
Interest rate swap liability
|
(1,019 | ) | — | — | (1,019 | ) | ||||||||||
|
December 31, 2012
|
||||||||||||||||
|
U.S. government agencies
|
$ | 30,040 | $ | — | $ | 30,040 | $ | — | ||||||||
|
Collateralized mortgage obligations
|
4,507 | — | 4,507 | — | ||||||||||||
|
Mortgage-backed securities
|
596,086 | — | 596,086 | — | ||||||||||||
|
Small Business Administration loan pools
|
51,493 | — | 51,493 | — | ||||||||||||
|
States and political subdivisions
|
122,878 | — | 122,878 | — | ||||||||||||
|
Equity securities
|
2,006 | — | 2,006 | — | ||||||||||||
|
Mortgage servicing rights
|
152 | — | — | 152 | ||||||||||||
|
Interest rate swap asset
|
2,112 | — | — | 2,112 | ||||||||||||
|
Interest rate swap liability
|
(2,160 | ) | — | — | (2,160 | ) | ||||||||||
|
Mortgage Servicing Rights
|
||||||||
|
2013
|
2012
|
|||||||
|
(In Thousands)
|
||||||||
|
Balance, April 1
|
$ | 252 | $ | 236 | ||||
|
Additions
|
54 | 17 | ||||||
|
Amortization
|
(60 | ) | (59 | ) | ||||
|
Balance, June 30
|
$ | 246 | $ | 194 | ||||
|
Mortgage Servicing Rights
|
||||||||
|
2013
|
2012
|
|||||||
|
(In Thousands)
|
||||||||
|
Balance, January 1
|
$ | 152 | $ | 292 | ||||
|
Additions
|
191 | 31 | ||||||
|
Amortization
|
(97 | ) | (129 | ) | ||||
|
Balance, June 30
|
$ | 246 | $ | 194 | ||||
|
Interest Rate Swap Asset
|
||||||||
|
2013
|
2012
|
|||||||
|
(In Thousands)
|
||||||||
|
Balance, April 1
|
$ | 1,928 | $ | 490 | ||||
|
Change in fair value through earnings
|
(549 | ) | 710 | |||||
|
Balance, June 30
|
$ | 1,379 | $ | 1,200 | ||||
|
Interest Rate Swap Asset
|
||||||||
|
2013
|
2012
|
|||||||
|
(In Thousands)
|
||||||||
|
Balance, January 1
|
$ | 2,112 | $ | 111 | ||||
|
Change in fair value through earnings
|
(733 | ) | 1,089 | |||||
|
Balance, June 30
|
$ | 1,379 | $ | 1,200 | ||||
|
Interest Rate Swap Liability
|
||||||||
|
2013
|
2012
|
|||||||
|
(In Thousands)
|
||||||||
|
Balance, April 1
|
$ | 1,915 | $ | 403 | ||||
|
Change in fair value through earnings
|
(896 | ) | 827 | |||||
|
Balance, June 30
|
$ | 1,019 | $ | 1,230 | ||||
|
Interest Rate Swap Liability
|
||||||||
|
2013
|
2012
|
|||||||
|
(In Thousands)
|
||||||||
|
Balance, January 1
|
$ | 2,160 | $ | 121 | ||||
|
Change in fair value through earnings
|
(1,141 | ) | 1,109 | |||||
|
Balance, June 30
|
$ | 1,019 | $ | 1,230 | ||||
|
Fair Value Measurements Using
|
||||||||||||||||
|
Quoted prices
|
||||||||||||||||
|
in active
|
||||||||||||||||
|
markets
|
Other
|
Significant
|
||||||||||||||
|
for identical
|
observable
|
unobservable
|
||||||||||||||
|
assets
|
inputs
|
inputs
|
||||||||||||||
|
Fair value
|
(Level 1)
|
(Level 2)
|
(Level 3)
|
|||||||||||||
|
(In Thousands)
|
||||||||||||||||
|
June 30, 2013
|
||||||||||||||||
|
Impaired loans
|
||||||||||||||||
|
One- to four-family residential construction
|
$ | — | $ | — | $ | — | $ | — | ||||||||
|
Subdivision construction
|
287 | — | — | 287 | ||||||||||||
|
Land development
|
3,686 | — | — | 3,686 | ||||||||||||
|
Owner occupied one- to four-family residential
|
345 | — | — | 345 | ||||||||||||
|
Non-owner occupied one- to four-family residential
|
1,084 | — | — | 1,084 | ||||||||||||
|
Commercial real estate
|
7,446 | — | — | 7,446 | ||||||||||||
|
Other residential
|
2,017 | — | — | 2,017 | ||||||||||||
|
Commercial business
|
2,063 | — | — | 2,063 | ||||||||||||
|
Consumer auto
|
37 | — | — | 37 | ||||||||||||
|
Consumer other
|
306 | — | — | 306 | ||||||||||||
|
Home equity lines of credit
|
75 | — | — | 75 | ||||||||||||
|
Total impaired loans
|
$ | 17,346 | $ | — | $ | — | $ | 17,346 | ||||||||
|
Foreclosed assets held for sale
|
$ | 5,090 | $ | — | $ | — | $ | 5,090 | ||||||||
|
December 31, 2012
|
||||||||||||||||
|
Impaired loans
|
||||||||||||||||
|
One- to four-family residential construction
|
$ | 171 | $ | — | $ | — | $ | 171 | ||||||||
|
Subdivision construction
|
1,482 | — | — | 1,482 | ||||||||||||
|
Land development
|
1,463 | — | — | 1,463 | ||||||||||||
|
Owner occupied one- to four-family residential
|
2,638 | — | — | 2,638 | ||||||||||||
|
Non-owner occupied one- to four-family residential
|
2,392 | — | — | 2,392 | ||||||||||||
|
Commercial real estate
|
21,764 | — | — | 21,764 | ||||||||||||
|
Other residential
|
4,162 | — | — | 4,162 | ||||||||||||
|
Commercial business
|
2,186 | — | — | 2,186 | ||||||||||||
|
Consumer auto
|
51 | — | — | 51 | ||||||||||||
|
Consumer other
|
286 | — | — | 286 | ||||||||||||
|
Home equity lines of credit
|
44 | — | — | 44 | ||||||||||||
|
Total impaired loans
|
$ | 36,639 | $ | — | $ | — | $ | 36,639 | ||||||||
|
Foreclosed assets held for sale
|
$ | 11,360 | $ | — | $ | — | $ | 11,360 | ||||||||
|
June 30, 2013
|
December 31, 2012
|
|||||||||||||||||||||||
|
Carrying
|
Fair
|
Hierarchy
|
Carrying
|
Fair
|
Hierarchy
|
|||||||||||||||||||
|
Amount
|
Value
|
Level
|
Amount
|
Value
|
Level
|
|||||||||||||||||||
|
Financial assets
|
||||||||||||||||||||||||
|
Cash and cash equivalents
|
$ | 373,310 | $ | 373,310 | 1 | $ | 404,141 | $ | 404,141 | 1 | ||||||||||||||
|
Held-to-maturity securities
|
805 | 918 | 2 | 920 | 1,084 | 2 | ||||||||||||||||||
|
Mortgage loans held for sale
|
22,679 | 22,679 | 2 | 26,829 | 26,829 | 2 | ||||||||||||||||||
|
Loans, net of allowance for loan losses
|
2,325,877 | 2,328,894 | 3 | 2,319,638 | 2,326,051 | 3 | ||||||||||||||||||
|
Accrued interest receivable
|
12,337 | 12,337 | 3 | 12,755 | 12,755 | 3 | ||||||||||||||||||
|
Investment in FHLB stock
|
10,374 | 10,374 | 3 | 10,095 | 10,095 | 3 | ||||||||||||||||||
|
Financial liabilities
|
||||||||||||||||||||||||
|
Deposits
|
3,013,896 | 3,020,929 | 3 | 3,153,193 | 3,162,288 | 3 | ||||||||||||||||||
|
FHLB advances
|
128,125 | 132,719 | 3 | 126,730 | 131,280 | 3 | ||||||||||||||||||
|
Short-term borrowings
|
196,932 | 196,932 | 3 | 180,416 | 180,416 | 3 | ||||||||||||||||||
|
Structured repurchase agreements
|
53,013 | 57,472 | 3 | 53,039 | 58,901 | 3 | ||||||||||||||||||
|
Subordinated debentures
|
30,929 | 30,929 | 3 | 30,929 | 30,929 | 3 | ||||||||||||||||||
|
Accrued interest payable
|
1,106 | 1,106 | 3 | 1,322 | 1,322 | 3 | ||||||||||||||||||
|
Unrecognized financial instruments (net of
|
||||||||||||||||||||||||
|
contractual value)
|
||||||||||||||||||||||||
|
Commitments to originate loans
|
— | — | 3 | — | — | 3 | ||||||||||||||||||
|
Letters of credit
|
94 | 94 | 3 | 84 | 84 | 3 | ||||||||||||||||||
|
Lines of credit
|
— | — | 3 | — | — | 3 | ||||||||||||||||||
|
Location in
|
Fair Value
|
||||||||
|
Consolidated Statements
|
June 30,
|
December 31,
|
|||||||
|
of Financial Condition
|
2013
|
2012
|
|||||||
|
(In Thousands)
|
|||||||||
|
Asset Derivatives
|
|||||||||
|
Derivatives not designated
|
|||||||||
|
as hedging instruments
|
|||||||||
|
Interest rate products
|
Prepaid expenses and other assets
|
$ | 1,379 | $ | 2,112 | ||||
|
Total derivatives not designated
|
|||||||||
|
as hedging instruments
|
$ | 1,379 | $ | 2,112 | |||||
|
Liability Derivatives
|
|||||||||
|
Derivatives not designated
|
|||||||||
|
as hedging instruments
|
|||||||||
|
Interest rate products
|
Accrued expenses and other liabilities
|
$ | 1,019 | $ | 2,160 | ||||
|
Total derivatives not designated
|
|||||||||
|
as hedging instruments
|
$ | 1,019 | $ | 2,160 | |||||
|
Transfers to
|
||||||||||||||||||||||||||||||||
|
Beginning
|
Additions
|
Removed
|
Potential
|
Transfers to
|
Ending
|
|||||||||||||||||||||||||||
|
Balance,
|
to Non-
|
from Non-
|
Problem
|
Foreclosed
|
Charge-
|
Balance,
|
||||||||||||||||||||||||||
|
January 1
|
Performing
|
Performing
|
Loans
|
Assets
|
Offs
|
Payments
|
June 30
|
|||||||||||||||||||||||||
|
(In Thousands)
|
||||||||||||||||||||||||||||||||
|
One- to four-family
construction
|
$ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||
|
Subdivision construction
|
2 | 1,289 | — | (2 | ) | — | — | — | 1,289 | |||||||||||||||||||||||
|
Land development
|
2,471 | 258 | — | — | (2,200 | ) | (276 | ) | (10 | ) | 243 | |||||||||||||||||||||
|
Commercial construction
|
— | — | — | — | — | — | — | — | ||||||||||||||||||||||||
|
One- to four-family
residential
|
4,409 | 1,646 | — | (661 | ) | (822 | ) | (644 | ) | (624 | ) | 3,304 | ||||||||||||||||||||
|
Other residential
|
— | 3,822 | — | — | — | (505 | ) | (3,317 | ) | — | ||||||||||||||||||||||
|
Commercial real estate
|
8,324 | 8,429 | — | (92 | ) | (1,331 | ) | (3,332 | ) | (830 | ) | 11,168 | ||||||||||||||||||||
|
Commercial business
|
6,248 | 2,149 | — | — | (107 | ) | (348 | ) | (141 | ) | 7,801 | |||||||||||||||||||||
|
Consumer
|
1,024 | 764 | (350 | ) | (80 | ) | (43 | ) | (152 | ) | (268 | ) | 895 | |||||||||||||||||||
|
Total
|
$ | 22,478 | $ | 18,357 | $ | (350 | ) | $ | (835 | ) | $ | (4,503 | ) | $ | (5,257 | ) | $ | (5,190 | ) | $ | 24,700 | |||||||||||
|
Removed
|
||||||||||||||||||||||||||||||||
|
Beginning
|
Additions to
|
from
|
Transfers
|
Transfers to
|
Ending
|
|||||||||||||||||||||||||||
|
Balance,
|
Potential
|
Potential
|
to Non-
|
Foreclosed
|
Charge-
|
Balance,
|
||||||||||||||||||||||||||
|
January 1
|
Problem
|
Problem
|
Performing
|
Assets
|
Offs
|
Payments
|
June 30
|
|||||||||||||||||||||||||
|
(In Thousands)
|
||||||||||||||||||||||||||||||||
|
One- to four-family
construction
|
$ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||
|
Subdivision construction
|
1,652 | 2 | (76 | ) | (724 | ) | — | — | (4 | ) | 850 | |||||||||||||||||||||
|
Land development
|
8,814 | 5,000 | — | — | — | — | — | 13,814 | ||||||||||||||||||||||||
|
Commercial construction
|
— | — | — | — | — | — | — | — | ||||||||||||||||||||||||
|
One- to four-family
residential
|
5,386 | 794 | (1,104 | ) | (464 | ) | (105 | ) | (518 | ) | (846 | ) | 3,143 | |||||||||||||||||||
|
Other residential
|
8,487 | 851 | (4,414 | ) | — | — | (2,181 | ) | (571 | ) | 2,172 | |||||||||||||||||||||
|
Commercial real estate
|
21,913 | 4,412 | — | (5,932 | ) | (4,605 | ) | (2,352 | ) | (1,117 | ) | 12,319 | ||||||||||||||||||||
|
Commercial business
|
3,042 | 855 | — | (2,027 | ) | — | (431 | ) | (6 | ) | 1,433 | |||||||||||||||||||||
|
Consumer
|
129 | 215 | (77 | ) | (5 | ) | — | — | (18 | ) | 244 | |||||||||||||||||||||
|
Total
|
$ | 49,423 | $ | 12,129 | $ | (5,671 | ) | $ | (9,152 | ) | $ | (4,710 | ) | $ | (5,482 | ) | $ | (2,562 | ) | $ | 33,975 | |||||||||||
|
Beginning
|
Ending
|
|||||||||||||||||||||||
|
Balance,
|
ORE
|
Capitalized
|
ORE Write-
|
Balance,
|
||||||||||||||||||||
|
January 1
|
Additions
|
Sales
|
Costs
|
Downs
|
June 30
|
|||||||||||||||||||
|
(In Thousands)
|
||||||||||||||||||||||||
|
One- to four-family construction
|
$ | 627 | $ | — | $ | (303 | ) | $ | — | $ | — | $ | 324 | |||||||||||
|
Subdivision construction
|
17,147 | 15 | (3,138 | ) | 45 | (192 | ) | 13,877 | ||||||||||||||||
|
Land development
|
14,058 | 2,087 | (1,235 | ) | 45 | (52 | ) | 14,903 | ||||||||||||||||
|
Commercial construction
|
6,511 | 113 | (2,746 | ) | — | (212 | ) | 3,666 | ||||||||||||||||
|
One- to four-family residential
|
1,200 | 1,040 | (822 | ) | — | (28 | ) | 1,390 | ||||||||||||||||
|
Other residential
|
7,232 | — | — | 87 | (203 | ) | 7,116 | |||||||||||||||||
|
Commercial real estate
|
2,738 | 5,936 | (4,744 | ) | — | (80 | ) | 3,850 | ||||||||||||||||
|
Commercial business
|
160 | — | (48 | ) | — | — | 112 | |||||||||||||||||
|
Consumer
|
471 | 1,523 | (1,054 | ) | — | — | 940 | |||||||||||||||||
|
Total
|
$ | 50,144 | $ | 10,714 | $ | (14,090 | ) | $ | 177 | $ | (767 | ) | $ | 46,178 | ||||||||||
|
June 30, 2013
(2)
|
Three Months Ended
June 30, 2013
|
Three Months Ended
June 30, 2012
|
|||||||||||||||||||||
|
Yield/
Rate
|
Average
Balance
|
Interest
|
Yield/
Rate
|
Average
Balance
|
Interest
|
Yield/
Rate
|
|||||||||||||||||
|
(Dollars in thousands)
|
|||||||||||||||||||||||
|
Interest-earning assets:
|
|||||||||||||||||||||||
|
Loans receivable:
|
|||||||||||||||||||||||
|
One- to four-family residential
|
4.85
|
%
|
$
|
479,566
|
$
|
7,859
|
6.57
|
%
|
$
|
490,028
|
$
|
7,854
|
6.45
|
%
|
|||||||||
|
Other residential
|
4.79
|
304,649
|
5,970
|
7.86
|
324,967
|
4,578
|
5.67
|
||||||||||||||||
|
Commercial real estate
|
4.93
|
808,550
|
11,863
|
5.88
|
788,633
|
14,125
|
7.20
|
||||||||||||||||
|
Construction
|
4.67
|
208,126
|
3,811
|
7.35
|
223,432
|
4,668
|
8.40
|
||||||||||||||||
|
Commercial business
|
5.07
|
258,432
|
3,732
|
5.79
|
224,063
|
5,112
|
9.18
|
||||||||||||||||
|
Other loans
|
6.21
|
288,170
|
5,463
|
7.60
|
262,926
|
4,881
|
7.47
|
||||||||||||||||
|
Industrial revenue bonds (1)
|
5.78
|
50,503
|
664
|
5.27
|
59,207
|
850
|
5.77
|
||||||||||||||||
|
Total loans receivable
|
5.20
|
2,397,996
|
39,362
|
6.58
|
2,373,256
|
42,068
|
7.13
|
||||||||||||||||
|
Investment securities (1)
|
2.56
|
801,811
|
3,988
|
2.00
|
865,859
|
5,909
|
2.74
|
||||||||||||||||
|
Other interest-earning assets
|
0.14
|
320,881
|
131
|
0.16
|
492,079
|
244
|
0.20
|
||||||||||||||||
|
Total interest-earning assets
|
4.22
|
3,520,688
|
43,481
|
4.95
|
3,731,194
|
48,221
|
5.20
|
||||||||||||||||
|
Non-interest-earning assets:
|
|||||||||||||||||||||||
|
Cash and cash equivalents
|
85,306
|
80,401
|
|||||||||||||||||||||
|
Other non-earning assets
|
305,930
|
313,523
|
|||||||||||||||||||||
|
Total assets
|
$
|
3,911,924
|
$
|
4,125,118
|
|||||||||||||||||||
|
Interest-bearing liabilities:
|
|||||||||||||||||||||||
|
Interest-bearing demand and savings
|
0.22
|
$
|
1,604,920
|
973
|
0.24
|
$
|
1,507,543
|
2,009
|
0.54
|
||||||||||||||
|
Time deposits
|
0.76
|
1,084,494
|
2,290
|
0.85
|
1,472,698
|
3,777
|
1.03
|
||||||||||||||||
|
Total deposits
|
0.44
|
2,689,414
|
3,263
|
0.49
|
2,980,241
|
5,786
|
0.78
|
||||||||||||||||
|
Short-term borrowings and structured
repurchase agreements
|
0.95
|
255,843
|
588
|
0.92
|
273,529
|
672
|
0.99
|
||||||||||||||||
|
Subordinated debentures issued to capital trusts
|
1.84
|
30,929
|
140
|
1.82
|
30,929
|
154
|
2.00
|
||||||||||||||||
|
FHLB advances
|
3.06
|
126,836
|
989
|
3.13
|
146,948
|
1,132
|
3.10
|
||||||||||||||||
|
Total interest-bearing liabilities
|
0.61
|
3,103,022
|
4,980
|
0.64
|
3,431,647
|
7,744
|
0.91
|
||||||||||||||||
|
Non-interest-bearing liabilities:
|
|||||||||||||||||||||||
|
Demand deposits
|
406,674
|
339,978
|
|||||||||||||||||||||
|
Other liabilities
|
21,930
|
4,497
|
|||||||||||||||||||||
|
Total liabilities
|
3,531,626
|
3,776,122
|
|||||||||||||||||||||
|
Stockholders’ equity
|
380,298
|
348,996
|
|||||||||||||||||||||
|
Total liabilities and stockholders’ equity
|
$
|
3,911,924
|
$
|
4,125,118
|
|||||||||||||||||||
|
Net interest income:
|
|||||||||||||||||||||||
|
Interest rate spread
|
3.61%
|
$
|
38,501
|
4.31
|
%
|
$
|
40,477
|
4.29
|
%
|
||||||||||||||
|
Net interest margin*
|
4.39
|
%
|
4.36
|
%
|
|||||||||||||||||||
|
Average interest-earning assets to
average interest-bearing liabilities
|
113.5
|
%
|
108.7
|
%
|
|||||||||||||||||||
|
_____________________
|
||||||||||||||||||||||||
|
*
|
Defined as the Company’s net interest income divided by total interest-earning assets.
|
|||||||||||||||||||||||
|
(1)
|
Of the total average balances of investment securities, average tax-exempt investment securities were $78.6 million and $95.7 million for the three months ended June 30, 2013 and 2012, respectively. In addition, average tax-exempt loans and industrial revenue bonds were $38.6 million and $39.3 million for the three months ended June 30, 2013 and 2012, respectively. Interest income on tax-exempt assets included in this table was $1.2 million and $1.5 million for the three months ended June 30, 2013 and 2012, respectively. Interest income net of disallowed interest expense related to tax-exempt assets was $1.2 million and $1.4 million for the three months ended June 30, 2013 and 2012, respectively.
|
|
|
(2)
|
The yield/rate on loans at June 30, 2013 does not include the impact of the accretable yield (income) on loans acquired in the FDIC-assisted transactions. See “Net Interest Income” for a discussion of the effect on results of operations for the three months ended June 30, 2013.
|
|
June 30, 2013
(2)
|
Six Months Ended
June 30, 2013
|
Six Months Ended
June 30, 2012
|
|||||||||||||||||||||
|
Yield/
Rate
|
Average
Balance
|
Interest
|
Yield/
Rate
|
Average
Balance
|
Interest
|
Yield/
Rate
|
|||||||||||||||||
|
(Dollars in thousands)
|
|||||||||||||||||||||||
|
Interest-earning assets:
|
|||||||||||||||||||||||
|
Loans receivable:
|
|||||||||||||||||||||||
|
One- to four-family residential
|
4.85
|
%
|
$
|
490,761
|
$
|
17,401
|
7.15
|
%
|
$
|
425,526
|
$
|
14,115
|
6.67
|
%
|
|||||||||
|
Other residential
|
4.79
|
311,531
|
12,195
|
7.89
|
302,850
|
9,027
|
5.99
|
||||||||||||||||
|
Commercial real estate
|
4.93
|
796,587
|
25,031
|
6.34
|
785,898
|
27,575
|
7.06
|
||||||||||||||||
|
Construction
|
4.67
|
207,956
|
8,219
|
7.97
|
240,822
|
9,477
|
7.91
|
||||||||||||||||
|
Commercial business
|
5.07
|
248,885
|
7,269
|
5.89
|
222,386
|
8,649
|
7.82
|
||||||||||||||||
|
Other loans
|
6.21
|
285,118
|
10,488
|
7.42
|
241,659
|
9,306
|
7.74
|
||||||||||||||||
|
Industrial revenue bonds (1)
|
5.78
|
55,035
|
1,537
|
5.63
|
62,789
|
1,817
|
5.82
|
||||||||||||||||
|
Total loans receivable
|
5.20
|
2,395,873
|
82,140
|
6.91
|
2,281,930
|
79,966
|
7.05
|
||||||||||||||||
|
Investment securities (1)
|
2.56
|
811,528
|
8,471
|
2.10
|
883,312
|
12,557
|
2.86
|
||||||||||||||||
|
Other interest-earning assets
|
0.14
|
347,300
|
226
|
0.13
|
424,482
|
375
|
0.18
|
||||||||||||||||
|
Total interest-earning assets
|
4.22
|
3,554,701
|
90,837
|
5.15
|
3,589,724
|
92,898
|
5.20
|
||||||||||||||||
|
Non-interest-earning assets:
|
|||||||||||||||||||||||
|
Cash and cash equivalents
|
86,347
|
78,944
|
|||||||||||||||||||||
|
Other non-earning assets
|
314,765
|
319,108
|
|||||||||||||||||||||
|
Total assets
|
$
|
3,955,813
|
$
|
3,987,776
|
|||||||||||||||||||
|
Interest-bearing liabilities:
|
|||||||||||||||||||||||
|
Interest-bearing demand and savings
|
0.22
|
$
|
1,618,507
|
2,156
|
0.27
|
$
|
1,374,607
|
4,078
|
0.60
|
||||||||||||||
|
Time deposits
|
0.76
|
1,125,990
|
4,633
|
0.83
|
1,387,782
|
7,492
|
1.09
|
||||||||||||||||
|
Total deposits
|
0.44
|
2,744,497
|
6,789
|
0.50
|
2,762,389
|
11,570
|
0.84
|
||||||||||||||||
|
Short-term borrowings and structured
repurchase agreements
|
0.95
|
257,909
|
1,170
|
0.92
|
271,066
|
1,358
|
1.01
|
||||||||||||||||
|
Subordinated debentures issued to
capital trusts
|
1.84
|
30,929
|
281
|
1.83
|
30,929
|
315
|
2.04
|
||||||||||||||||
|
FHLB advances
|
3.06
|
126,716
|
1,963
|
3.12
|
162,896
|
2,406
|
2.97
|
||||||||||||||||
|
Total interest-bearing liabilities
|
0.61
|
3,160,051
|
10,203
|
0.65
|
3,227,280
|
15,649
|
0.97
|
||||||||||||||||
|
Non-interest-bearing liabilities:
|
|||||||||||||||||||||||
|
Demand deposits
|
396,125
|
415,171
|
|||||||||||||||||||||
|
Other liabilities
|
21,449
|
5,024
|
|||||||||||||||||||||
|
Total liabilities
|
3,577,625
|
3,647,475
|
|||||||||||||||||||||
|
Stockholders’ equity
|
378,188
|
340,301
|
|||||||||||||||||||||
|
Total liabilities and stockholders’ equity
|
$
|
3,955,813
|
$
|
3,987,776
|
|||||||||||||||||||
|
Net interest income:
|
|||||||||||||||||||||||
|
Interest rate spread
|
3.61
|
%
|
$
|
80,634
|
4.50
|
%
|
$
|
77,249
|
4.23
|
%
|
|||||||||||||
|
Net interest margin*
|
4.57
|
%
|
4.33
|
%
|
|||||||||||||||||||
|
Average interest-earning assets to
average interest-bearing liabilities
|
112.5
|
%
|
111.2
|
%
|
|||||||||||||||||||
|
_____________________
|
||||||||||||||||||||||||
|
*
|
Defined as the Company’s net interest income divided by total interest-earning assets.
|
|||||||||||||||||||||||
|
(1)
|
Of the total average balances of investment securities, average tax-exempt investment securities were $79.9 million and $100.8 million for the six months ended June 30, 2013 and 2012, respectively. In addition, average tax-exempt loans and industrial revenue bonds were $39.2 million and $41.8 million for the six months ended June 30, 2013 and 2012, respectively. Interest income on tax-exempt assets included in this table was $2.5 million and $3.2 million for the six months ended June 30, 2013 and 2012, respectively. Interest income net of disallowed interest expense related to tax-exempt assets was $2.4 million and $3.0 million for the six months ended June 30, 2013 and 2012, respectively.
|
|
|
(2)
|
The yield/rate on loans at June 30, 2013 does not include the impact of the accretable yield (income) on loans acquired in the FDIC-assisted transactions. See “Net Interest Income” for a discussion of the effect on results of operations for the six months ended June 30, 2013.
|
|
Three Months Ended June 30,
|
||||||||||||
|
2013 vs. 2012
|
||||||||||||
|
Increase
(Decrease)
Due to
|
||||||||||||
|
Total
Increase
(Decrease)
|
||||||||||||
|
Rate
|
Volume
|
|||||||||||
|
(Dollars in thousands)
|
||||||||||||
|
Interest-earning assets:
|
||||||||||||
|
Loans receivable
|
$
|
(3,157
|
)
|
$
|
450
|
|
$
|
(2,707
|
)
|
|||
|
Investment securities
|
(1,512
|
)
|
(409
|
)
|
(1,921
|
)
|
||||||
|
Other interest-earning assets
|
(38
|
)
|
(75
|
)
|
(113
|
)
|
||||||
|
Total interest-earning assets
|
(4,707
|
)
|
(34
|
)
|
(4,741
|
)
|
||||||
|
Interest-bearing liabilities:
|
||||||||||||
|
Demand deposits
|
(1,159
|
)
|
123
|
(1,036
|
)
|
|||||||
|
Time deposits
|
(601
|
)
|
(886
|
)
|
(1,487
|
)
|
||||||
|
Total deposits
|
(1,760
|
)
|
(763
|
)
|
(2,523
|
)
|
||||||
|
Short-term borrowings and structured repo
|
(43
|
)
|
(41
|
)
|
(84
|
)
|
||||||
|
Subordinated debentures issued to capital trust
|
(14
|
)
|
—
|
(14
|
)
|
|||||||
|
FHLBank advances
|
11
|
(154
|
)
|
(143
|
)
|
|||||||
|
Total interest-bearing liabilities
|
(1,806
|
)
|
(958
|
)
|
(2,764
|
)
|
||||||
|
Net interest income
|
$
|
(2,901
|
)
|
$
|
924
|
|
$
|
(1,977
|
)
|
|||
|
Six Months Ended June 30,
|
||||||||||||
|
2013 vs. 2012
|
||||||||||||
|
Increase
(Decrease)
Due to
|
||||||||||||
|
Total
Increase
(Decrease)
|
||||||||||||
|
Rate
|
Volume
|
|||||||||||
|
(Dollars in thousands)
|
||||||||||||
|
Interest-earning assets:
|
||||||||||||
|
Loans receivable
|
$
|
(1,593
|
)
|
$
|
3,767
|
|
$
|
2,174
|
||||
|
Investment securities
|
(3,123
|
)
|
(963
|
)
|
(4,086
|
)
|
||||||
|
Other interest-earning assets
|
(88
|
)
|
(61
|
)
|
(149
|
)
|
||||||
|
Total interest-earning assets
|
(4,804
|
)
|
2,743
|
|
(2,061
|
)
|
||||||
|
Interest-bearing liabilities:
|
||||||||||||
|
Demand deposits
|
(2,544
|
)
|
622
|
(1,922
|
)
|
|||||||
|
Time deposits
|
(1,588
|
)
|
(1,271
|
)
|
(2,859
|
)
|
||||||
|
Total deposits
|
(4,132
|
)
|
(649
|
)
|
(4,781
|
)
|
||||||
|
Short-term borrowings and structured repo
|
(123
|
)
|
(65
|
)
|
(188
|
)
|
||||||
|
Subordinated debentures issued to capital trust
|
(33
|
)
|
—
|
(33
|
)
|
|||||||
|
FHLBank advances
|
135
|
(578
|
)
|
(443
|
)
|
|||||||
|
Total interest-bearing liabilities
|
(4,153
|
)
|
(1,292
|
)
|
(5,445
|
)
|
||||||
|
Net interest income
|
$
|
(651
|
)
|
$
|
4,035
|
|
$
|
3,384
|
|
|||
|
Federal Home Loan Bank line
|
$411.6 million
|
|
|
Federal Reserve Bank line
|
$439.0 million
|
|
|
Cash and cash equivalents
|
$373.3 million
|
|
|
Unpledged securities
|
$66.0 million
|
|
Total Number
of Shares
Purchased
|
Average
Price
Per Share
|
Total Number
of Shares
Purchased
As Part of
Publicly
Announced
Plan
|
Maximum
Number of
Shares that
May Yet Be
Purchased
Under the
Plan(1)
|
|||||||||||||
|
April 1, 2013 – April 30, 2013
|
---
|
$
|
----
|
---
|
396,562
|
|||||||||||
|
May 1, 2013 – May 31, 2013
|
---
|
$
|
----
|
---
|
396,562
|
|||||||||||
|
June 1, 2013 – June 30, 2013
|
---
|
$
|
----
|
---
|
396,562
|
|||||||||||
|
---
|
$
|
----
|
---
|
|||||||||||||
|
_______________________
|
|||
|
(1)
|
Amount represents the number of shares available to be repurchased under the November 2006 plan as of the last calendar day of the month shown.
|
||
|
a)
|
Exhibits
|
|
|
See Exhibit Index.
|
||
|
Great Southern Bancorp, Inc.
|
|
|
Registrant
|
|
|
Date: August 8, 2013
|
/s/ Joseph W. Turner
|
|
Joseph W. Turner
President and Chief Executive Officer
(Principal Executive Officer)
|
|
|
Date: August 8, 2013
|
/s/ Rex A. Copeland
|
|
Rex A. Copeland
Treasurer
(Principal Financial and Accounting Officer)
|
|
(2)
|
Plan of acquisition, reorganization, arrangement, liquidation, or succession
|
|
|
(i)
|
The Purchase and Assumption Agreement, dated as of March 20, 2009, among Federal Deposit Insurance Corporation, Receiver of TeamBank, N.A., Paola, Kansas, Federal Deposit Insurance Corporation and Great Southern Bank, previously filed with the Commission (File no. 000-18082) as Exhibit 2.1 to the Registrant's Current Report on Form 8-K filed on March 26, 2011 is incorporated herein by reference as Exhibit 2.1(i).
|
|
|
(ii)
|
The Purchase and Assumption Agreement, dated as of September 4, 2009, among Federal Deposit Insurance Corporation, Receiver of Vantus Bank, Sioux City, Iowa, Federal Deposit Insurance Corporation and Great Southern Bank, previously filed with the Commission (File no. 000-18082) as Exhibit 2.1 to the Registrant's Current Report on Form 8-K filed on September 11, 2011 is incorporated herein by reference as Exhibit 2.1(ii).
|
|
|
(iii)
|
The Purchase and Assumption Agreement, dated as of October 7, 2011, among Federal Deposit Insurance Corporation, Receiver of Sun Security Bank, Ellington, Missouri, Federal Deposit Insurance Corporation and Great Southern Bank, previously filed with the Commission (File no. 000-18082) as Exhibit 2.1(iii) to the Registrant's Quarterly Report on Form 10-Q for the quarter ended June 30, 2012 is incorporated herein by reference as Exhibit 2(iii).
|
|
|
(iv)
|
The Purchase and Assumption Agreement, dated as of April 27, 2012, among Federal Deposit Insurance Corporation, Receiver of Inter Savings Bank, FSB, Maple Grove, Minnesota, Federal Deposit Insurance Corporation and Great Southern Bank, previously filed with the Commission (File no. 000-18082) as Exhibit 2.1(iv) to the Registrant's Quarterly Report on Form 10-Q for the quarter ended September 30, 2011 is incorporated herein by reference as Exhibit 2(iv)
|
|
|
(3)
|
Articles of incorporation and Bylaws
|
|
|
(i)
|
The Registrant's Charter previously filed with the Commission as Appendix D to the Registrant's Definitive Proxy Statement on Schedule 14A filed on September 30, 2004 (File No. 000-18082), is incorporated herein by reference as Exhibit 3.1.
|
|
|
(iA)
|
The Articles Supplementary to the Registrant's Charter setting forth the terms of the Registrant's Senior Non-Cumulative Perpetual Preferred Stock, Series A, previously filed with the Commission (File no. 000-18082) as Exhibit 3.1 to the Registrant's Current Report on Form 8-K filed on August 18, 2011, are incorporated herein by reference as Exhibit 3(i).
|
|
|
(ii)
|
The Registrant's Bylaws, previously filed with the Commission (File no. 000-18082) as Exhibit 3(ii) to the Registrant's Current Report on Form 8-K filed on October 23, 2007, is incorporated herein by reference as Exhibit 3.2.
|
|
|
(4)
|
Instruments defining the rights of security holders, including indentures
|
|
|
The Company hereby agrees to furnish the SEC upon request, copies of the instruments defining the rights of the holders of each issue of the Registrant's long-term debt.
|
||
|
(9)
|
Voting trust agreement
|
|
|
Inapplicable.
|
||
|
(10)
|
Material contracts
|
|
|
The Registrant's 1997 Stock Option and Incentive Plan previously filed with the Commission (File no. 000-18082) as Annex A to the Registrant's Definitive Proxy Statement on Schedule 14A filed on September 18, 1997 is incorporated herein by reference as Exhibit 10.1.
|
||
|
The Registrant's 2003 Stock Option and Incentive Plan previously filed with the Commission (File No. 000-18082) as Annex A to the Registrant's Definitive Proxy Statement on Schedule 14A filed on April 14, 2003, is incorporated herein by reference as Exhibit 10.2.
|
||
|
The employment agreement dated September 18, 2002 between the Registrant and William V. Turner previously filed with the Commission (File no. 000-18082) as Exhibit 10.2 to the Registrant's Annual Report on Form 10-K for the fiscal year ended December 31, 2003, is incorporated herein by reference as Exhibit 10.3.
|
||
|
The employment agreement dated September 18, 2002 between the Registrant and Joseph W. Turner previously filed with the Commission (File no. 000-18082) as Exhibit 10.4 to the Registrant's Annual Report on Form 10-K for the fiscal year ended December 31, 2003, is incorporated herein by reference as Exhibit 10.4.
|
||
|
The form of incentive stock option agreement under the Registrant's 2003 Stock Option and Incentive Plan previously filed with the Commission as Exhibit 10.1 to the Registrant's Current Report on Form 8-K (File no. 000-18082) filed on February 24, 2005 is incorporated herein by reference as Exhibit 10.5.
|
||
|
The form of non-qualified stock option agreement under the Registrant's 2003 Stock Option and Incentive Plan previously filed with the Commission as Exhibit 10.2 to the Registrant's Current Report on Form 8-K (File no. 000-18082) filed on February 24, 2005 is incorporated herein by reference as Exhibit 10.6.
|
||
|
A description of the current salary and bonus arrangements for 2012 for the Registrant's named executive officers previously filed with the Commission as Exhibit 10.7 to the Registrant's Annual Report on Form 10-K for the fiscal year ended December 31, 2012 is incorporated herein by reference as Exhibit 10.7.
|
||
|
A description of the current fee arrangements for the Registrant's directors previously filed with the Commission as Exhibit 10.8 to the Registrant's Annual Report on Form 10-K for the fiscal year ended December 31, 2012 is incorporated herein by reference as Exhibit 10.8.
|
||
|
Small Business Lending Fund – Securities Purchase Agreement, dated August 18, 2011, between the Registrant and the Secretary of the United States Department of the Treasury, previously filed with the Commission as Exhibit 10.1 to the Registrant's Current Report on Form 8-K filed on August 18, 2011, is incorporated herein by reference as Exhibit 10.9.
|
||
|
The Registrant's 2013 Equity Incentive Plan previously filed with the Commission (File No. 000-18082) as Annex A to the Registrant's Definitive Proxy Statement on Schedule 14A filed on April 4, 2013, is incorporated herein by reference as Exhibit 10.10.
|
||
|
The form of incentive stock option award agreement under the Registrant's 2013 Equity Incentive Plan previously filed with the Commission as Exhibit 10.2 to the Registrant's Registration Statement on Form S-8 (File no. 333-189497) filed on June 20, 2013 is incorporated herein by reference as Exhibit 10.11.
|
||
|
The form of non-qualified stock option award agreement under the Registrant's 2013 Equity Incentive Plan previously filed with the Commission as Exhibit 10.3 to the Registrant's Registration Statement on Form S-8 (File no. 333-189497) filed on June 20, 2013 is incorporated herein by reference as Exhibit 10.12.
|
||
|
The form of stock appreciation right award agreement under the Registrant's 2013 Equity Incentive Plan previously filed with the Commission as Exhibit 10.4 to the Registrant's Registration Statement on Form S-8 (File no. 333-189497) filed on June 20, 2013 is incorporated herein by reference as Exhibit 10.13.
|
||
|
The form of restricted stock award agreement under the Registrant's 2013 Equity Incentive Plan previously filed with the Commission as Exhibit 10.5 to the Registrant's Registration Statement on Form S-8 (File no. 333-189497) filed on June 20, 2013 is incorporated herein by reference as Exhibit 10.14.
|
||
|
(11)
|
Statement re computation of per share earnings
|
|
|
Included in Note 5 to the Consolidated Financial Statements.
|
||
|
(15)
|
Letter re unaudited interim financial information
|
|
|
Inapplicable.
|
||
|
(18)
|
Letter re change in accounting principles
|
|
|
Inapplicable.
|
||
|
(19)
|
Report furnished to securityholders.
|
|
|
Inapplicable.
|
||
|
(22)
|
Published report regarding matters submitted to vote of security holders
|
|
|
Inapplicable.
|
||
|
(23)
|
Consents of experts and counsel
|
|
|
Inapplicable.
|
||
|
(24)
|
Power of attorney
|
|
|
None.
|
||
|
(31.1)
|
Rule 13a-14(a) Certification of Chief Executive Officer
|
|
|
Attached as Exhibit 31.1
|
||
|
(31.2)
|
Rule 13a-14(a) Certification of Treasurer
|
|
|
Attached as Exhibit 31.2
|
||
|
(32)
|
Certification pursuant to Section 906 of Sarbanes-Oxley Act of 2002 (18 U.S.C. Section 1350)
|
|
|
Attached as Exhibit 32.
|
||
|
(99)
|
Additional Exhibits
|
|
|
None.
|
||
|
(101)
|
Attached as Exhibit 101 are the following financial statements from the Great Southern Bancorp, Inc. Quarterly Report on Form 10-Q for the quarter ended June 30, 2013, formatted in Extensive Business Reporting Language (XBRL): (i) consolidated statements of financial condition, (ii) consolidated statements of income, (iii) consolidated statements of cash flows and (iv) the notes to consolidated financial statements.
|
|
No information found
* THE VALUE IS THE MARKET VALUE AS OF THE LAST DAY OF THE QUARTER FOR WHICH THE 13F WAS FILED.
| FUND | NUMBER OF SHARES | VALUE ($) | PUT OR CALL |
|---|
| DIRECTORS | AGE | BIO | OTHER DIRECTOR MEMBERSHIPS |
|---|
No information found
No Customers Found
No Suppliers Found
Price
Yield
| Owner | Position | Direct Shares | Indirect Shares |
|---|