Document And Entity Information
Document And Entity Information - shares | 3 Months Ended | |
Mar. 31, 2021 | Apr. 30, 2021 | |
Document Information [Line Items] | ||
Entity Central Index Key | 0001042729 | |
Entity Registrant Name | MERCANTILE BANK CORPORATION | |
Amendment Flag | false | |
Current Fiscal Year End Date | --12-31 | |
Document Fiscal Period Focus | Q1 | |
Document Fiscal Year Focus | 2021 | |
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Mar. 31, 2021 | |
Document Transition Report | false | |
Entity File Number | 000-26719 | |
Entity Incorporation, State or Country Code | MI | |
Entity Tax Identification Number | 38-3360865 | |
Entity Address, Address Line One | 310 Leonard Street, NW | |
Entity Address, City or Town | Grand Rapids | |
Entity Address, State or Province | MI | |
Entity Address, Postal Zip Code | 49504 | |
City Area Code | 616 | |
Local Phone Number | 406-3000 | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Accelerated Filer | |
Entity Small Business | false | |
Entity Emerging Growth Company | false | |
Title of 12(b) Security | Common Stock | |
Trading Symbol | MBWM | |
Security Exchange Name | NASDAQ | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 16,158,431 |
Consolidated Balance Sheets (Cu
Consolidated Balance Sheets (Current Period Unaudited) - USD ($) | Mar. 31, 2021 | Dec. 31, 2020 |
ASSETS | ||
Cash and due from banks | $ 55,489,000 | $ 62,832,000 |
Interest-earning deposits | 596,855,000 | 563,174,000 |
Total cash and cash equivalents | 652,344,000 | 626,006,000 |
Securities available for sale | 434,257,000 | 387,347,000 |
Federal Home Loan Bank stock | 18,002,000 | 18,002,000 |
Loans | 3,364,370,000 | 3,193,470,000 |
Allowance for loan losses | (38,695,000) | (37,967,000) |
Loans, net | 3,325,675,000 | 3,155,503,000 |
Premises and equipment, net | 55,388,000 | 58,959,000 |
Bank owned life insurance | 72,395,000 | 72,131,000 |
Goodwill | 49,473,000 | 49,473,000 |
Core deposit intangible, net | 2,118,000 | 2,436,000 |
Mortgage loans held for sale | 40,297,000 | 22,888,000 |
Assets held for sale | 13,159,000 | 0 |
Other assets | 47,246,000 | 44,599,000 |
Total assets | 4,710,354,000 | 4,437,344,000 |
LIABILITIES AND SHAREHOLDERS' EQUITY | ||
Noninterest-bearing | 1,605,471,000 | 1,433,403,000 |
Interest-bearing | 2,039,491,000 | 1,978,150,000 |
Total deposits | 3,644,962,000 | 3,411,553,000 |
Securities sold under agreements to repurchase | 141,310,000 | 118,365,000 |
Federal Home Loan Bank advances | 394,000,000 | 394,000,000 |
Subordinated debentures | 47,733,000 | 47,563,000 |
Liabilities held for sale | 17,280,000 | 0 |
Accrued interest and other liabilities | 23,826,000 | 24,309,000 |
Total liabilities | 4,269,111,000 | 3,995,790,000 |
Commitments and contingent liabilities (Note 8) | ||
Shareholders' equity | ||
Preferred stock, no par value; 1,000,000 shares authorized; none issued | 0 | 0 |
Common stock, no par value; 40,000,000 shares authorized; 16,219,138 shares outstanding at March 31, 2021 and 16,330,476 shares outstanding at December 31, 2020 | 299,358,000 | 302,029,000 |
Retained earnings | 143,642,000 | 134,039,000 |
Accumulated other comprehensive income (loss) | (1,757,000) | 5,486,000 |
Total shareholders’ equity | 441,243,000 | 441,554,000 |
Total liabilities and shareholders’ equity | $ 4,710,354,000 | $ 4,437,344,000 |
Consolidated Balance Sheets (_2
Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - $ / shares $ / shares in Thousands | Mar. 31, 2021 | Dec. 31, 2020 |
Preferred stock, par value (in dollars per share) | $ 0 | $ 0 |
Preferred stock, shares authorized (in shares) | 1,000,000 | 1,000,000 |
Preferred stock, shares issued (in shares) | 0 | 0 |
Common stock, par value (in dollars per share) | $ 0 | $ 0 |
Common stock, shares authorized (in shares) | 40,000,000 | 40,000,000 |
Common stock, shares outstanding (in shares) | 16,219,138 | 16,330,476 |
Common stock, shares issued (in shares) | 16,219,138 | 16,330,476 |
Consolidated Statements of Inco
Consolidated Statements of Income (Unaudited) - USD ($) | 3 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Interest income | ||
Loans, including fees | $ 32,985,000 | $ 33,442,000 |
Securities, taxable | 1,035,000 | 3,441,000 |
Securities, tax-exempt | 597,000 | 576,000 |
Other interest-earning assets | 168,000 | 475,000 |
Total interest income | 34,785,000 | 37,934,000 |
Interest expense | ||
Deposits | 2,717,000 | 4,641,000 |
Short-term borrowings | 36,000 | 40,000 |
Federal Home Loan Bank advances | 2,027,000 | 2,212,000 |
Subordinated debentures and other borrowings | 472,000 | 724,000 |
Total interest expense | 5,252,000 | 7,617,000 |
Net interest income | 29,533,000 | 30,317,000 |
Provision for loan losses | 300,000 | 750,000 |
Net interest income after provision for loan losses | 29,233,000 | 29,567,000 |
Noninterest income: | ||
Mortgage banking income | 8,800,000 | 2,627,000 |
Interest rate swap fees | 653,000 | 0 |
Payroll processing | 557,000 | 577,000 |
Earnings on bank owned life insurance | 277,000 | 336,000 |
Other income | 343,000 | 427,000 |
Total noninterest income | 13,463,000 | 6,550,000 |
Noninterest expense | ||
Salaries and benefits | 15,086,000 | 13,528,000 |
Occupancy | 2,014,000 | 2,059,000 |
Furniture and equipment depreciation, rent and maintenance | 889,000 | 778,000 |
Data processing costs | 2,617,000 | 2,483,000 |
Other expense | 4,511,000 | 4,092,000 |
Total noninterest expenses | 25,117,000 | 22,940,000 |
Income before federal income tax expense | 17,579,000 | 13,177,000 |
Federal income tax expense | 3,340,000 | 2,504,000 |
Net income | $ 14,239,000 | $ 10,673,000 |
Basic earnings per share (in dollars per share) | $ 0.87 | $ 0.65 |
Diluted earnings per share (in dollars per share) | 0.87 | 0.65 |
Common Stock, Dividends, Per Share, Cash Paid (in dollars per share) | $ 0.29 | $ 0.28 |
Average basic shares outstanding (in shares) | 16,283,044 | 16,350,281 |
Average diluted shares outstanding (in shares) | 16,283,490 | 16,351,559 |
Deposit Account [Member] | ||
Noninterest income: | ||
Service charges on deposit and sweep accounts | $ 1,155,000 | $ 1,222,000 |
Credit and Debit Card [Member] | ||
Noninterest income: | ||
Service charges on deposit and sweep accounts | $ 1,678,000 | $ 1,361,000 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) | 3 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Net income | $ 14,239,000 | $ 10,673,000 |
Other comprehensive income (loss): | ||
Unrealized holding gains (losses) on securities available for sale | (9,168,000) | 1,391,000 |
Tax effect of unrealized holding gains (losses) on securities available for sale | 1,925,000 | (293,000) |
Other comprehensive income (loss), net of tax effect | (7,243,000) | 1,098,000 |
Comprehensive income | $ 6,996,000 | $ 11,771,000 |
Consolidated Statements of Chan
Consolidated Statements of Changes in Shareholders' Equity (Unaudited) - USD ($) | Preferred Stock [Member] | Common Stock Including Additional Paid in Capital [Member] | Retained Earnings [Member] | AOCI Attributable to Parent [Member] | Total |
Balances at Dec. 31, 2019 | $ 0 | $ 305,035,000 | $ 107,831,000 | $ 3,695,000 | $ 416,561,000 |
Employee stock purchase plan | 14,000 | 14,000 | |||
Dividend reinvestment plan | 192,000 | 192,000 | |||
Stock-based compensation expense | 625,000 | 625,000 | |||
Share repurchase program | (6,282,000) | (6,282,000) | |||
Cash dividends | (4,492,000) | (4,492,000) | |||
Net income | 10,673,000 | 10,673,000 | |||
Change in net unrealized holding gain/(loss) on securities available for sale, net of tax effect | 1,098,000 | 1,098,000 | |||
Balances at Mar. 31, 2020 | 0 | 299,584,000 | 114,012,000 | 4,793,000 | 418,389,000 |
Balances at Dec. 31, 2020 | 0 | 302,029,000 | 134,039,000 | 5,486,000 | 441,554,000 |
Employee stock purchase plan | 11,000 | 11,000 | |||
Dividend reinvestment plan | 213,000 | 213,000 | |||
Stock-based compensation expense | 643,000 | 643,000 | |||
Share repurchase program | (3,538,000) | (3,538,000) | |||
Cash dividends | (4,636,000) | (4,636,000) | |||
Net income | 14,239,000 | 14,239,000 | |||
Change in net unrealized holding gain/(loss) on securities available for sale, net of tax effect | (7,243,000) | (7,243,000) | |||
Balances at Mar. 31, 2021 | $ 0 | $ 299,358,000 | $ 143,642,000 | $ (1,757,000) | $ 441,243,000 |
Consolidated Statements of Ch_2
Consolidated Statements of Changes in Shareholders' Equity (Unaudited) (Parentheticals) - $ / shares | 3 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Common Stock Including Additional Paid in Capital [Member] | ||
Employee stock purchase plan (in shares) | 331 | 642 |
Dividend reinvestment plan (in shares) | 6,647 | 8,073 |
Share repurchase program (in shares) | 118,261 | 222,385 |
Retained Earnings [Member] | ||
Cash dividends per common share (in dollars per share) | $ 0.29 | $ 0.28 |
Cash dividends per common share (in dollars per share) | $ 0.29 | $ 0.28 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows (Unaudited) - USD ($) | 3 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Cash flows from operating activities | ||
Net income | $ 14,239,000 | $ 10,673,000 |
Adjustments to reconcile net income to net cash from operating activities | ||
Depreciation and amortization | 3,457,000 | 982,000 |
Accretion of acquired loans | (34,000) | (113,000) |
Provision for loan losses | 300,000 | 750,000 |
Stock-based compensation expense | 643,000 | 625,000 |
Proceeds from sales of mortgage loans held for sale | 189,018,000 | 68,627,000 |
Origination of mortgage loans held for sale | (197,245,000) | (86,206,000) |
Net gain from sales of mortgage loans held for sale | (9,182,000) | (2,096,000) |
Net gain from sales and valuation write-downs of foreclosed assets | (81,000) | (49,000) |
Net (gain) loss from sales and valuation write-downs of former bank premises | 250,000 | (27,000) |
Net loss from sales and write-downs of fixed assets | 312,000 | 54,000 |
Earnings on bank owned life insurance | (277,000) | (336,000) |
Net change in: | ||
Accrued interest receivable | (971,000) | 220,000 |
Other assets | (1,367,000) | 271,000 |
Accrued interest and other liabilities | (483,000) | (3,153,000) |
Net cash for operating activities | (1,421,000) | (9,778,000) |
Cash flows from investing activities | ||
Loan originations and payments, net | (180,147,000) | (24,910,000) |
Purchases of securities available for sale | (87,307,000) | (99,002,000) |
Proceeds from maturities, calls and repayments of securities available for sale | 30,974,000 | 124,510,000 |
Proceeds from sales of foreclosed assets | 158,000 | 106,000 |
Proceeds from sales of former bank premises | 0 | 162,000 |
Net purchases of premises and equipment | (1,603,000) | (3,159,000) |
Net cash for investing activities | (237,925,000) | (2,293,000) |
Cash flows from financing activities | ||
Net decrease in time deposits | (51,961,000) | (61,810,000) |
Net increase in all other deposits | 302,650,000 | 16,842,000 |
Net increase in securities sold under agreements to repurchase | 22,945,000 | 30,595,000 |
Proceeds from Federal Home Loan Bank advances | 0 | 40,000,000 |
Employee stock purchase plan | 11,000 | 14,000 |
Dividend reinvestment plan | 213,000 | 192,000 |
Repurchases of common stock | (3,538,000) | (6,282,000) |
Payment of cash dividends to common shareholders | (4,636,000) | (4,492,000) |
Net cash from financing activities | 265,684,000 | 15,059,000 |
Net change in cash and cash equivalents | 26,338,000 | 2,988,000 |
Cash and cash equivalents at beginning of period | 626,006,000 | 233,731,000 |
Cash and cash equivalents at end of period | 652,344,000 | 236,719,000 |
Supplemental disclosures of cash flows information | ||
Interest | 5,509,000 | 8,290,000 |
Federal income tax | 0 | 0 |
Noncash financing and investing activities: | ||
Transfers from loans to foreclosed assets | 0 | 11,000 |
Transfers from loans to assets held for sale | 9,709,000 | 0 |
Transfers from bank premises to assets held for sale | 3,450,000 | 0 |
Transfers from deposits to liabilities held for sale | $ 17,280,000 | $ 0 |
Note 1 - Significant Accounting
Note 1 - Significant Accounting Policies | 3 Months Ended |
Mar. 31, 2021 | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | 1. SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation three March 31, 2021 10 303 not not March 31, 2021 not 10 December 31, 2020. We have five not Coronavirus Pandemic first second 2020 2019 19” 2 19 The Coronavirus Pandemic is a highly unusual, unprecedented and evolving public health and economic crisis and may may may The following section summarizes the primary measures that directly impact us and our customers. ● Paycheck Protection Program The Paycheck Protection Program (“PPP”) reflects a substantial expansion of the Small Business Administration’s 100% 7 $350 500 100% 100% 1.00%, August 8, 2020. March 31, 2021, first 2021. The Consolidated Appropriations Act, 2021 $284 second 2 May 31, 2021. March 31, 2021, first 2021. A PPP loan is assigned a risk weight of 0% ● Individual Economic Impact Payments The Internal Revenue Service has made three $1,200 April 2020, $600 January 2021 $1,400 March 2021. ● Troubled Debt Restructuring Relief From March 1, 2020 60 December 31, 2020 may 19 2021 January 1, 2022. ● Current Expected Credit Loss Methodology Delay Financial institutions are not December 31, 2020. 2021 January 1, 2022. In early April 2020, three three 12 three three three three nine 0% At the peak of activity in mid- 2020, March 31, 2021, two 90 three June 30, 2020, April, May June 2020 March 31, 2021, ten Earnings Per Share Approximately 262,000 unvested restricted shares were included in determining both basic and diluted earnings per share for the three March 31, 2021. three March 31, 2021. not three March 31, 2021. Approximately 256,000 unvested restricted shares were included in determining both basic and diluted earnings per share for the three March 31, 2020. three March 31, 2020. not three March 31, 2020. Securities Interest income includes amortization of purchase premiums and accretion of discounts. Premiums and discounts on securities are amortized or accreted on the level-yield method without anticipating prepayments, except for mortgage-backed securities where prepayments are anticipated. Gains and losses on sales are recorded on the trade date and determined using the specific identification method. Declines in the fair value of debt securities below their amortized cost that are other-than-temporary impairment (“OTTI”) are reflected in earnings or other comprehensive income, as appropriate. For those debt securities whose fair value is less than their amortized cost, we consider our intent to sell the security, whether it is more likely than not not two 1 2 Loans Interest income on commercial loans and mortgage loans is discontinued at the time the loan is 90 days delinquent unless the loan is well-secured and in process of collection. Consumer and credit card loans are typically charged-off no All interest accrued but not Loans Held for Sale March 31, 2021 December 31, 2020, Mortgage loans held for sale are generally sold with servicing rights retained. Gains and losses on sales of mortgage loans are based on the difference between the selling price and the carrying value of the related loan sold, which is reduced by the cost allocated to the servicing right. We generally lock in the sale price to the purchaser of the mortgage loan at the same time we make an interest rate commitment to the borrower. These mortgage banking activities are not March 31, 2021 December 31, 2020, Mortgage Banking Activities Servicing fee income is recorded for fees earned for servicing mortgage loans. The fees are based on a contractual percentage of the outstanding principal or a fixed amount per loan and are recorded as income when earned. Amortization of mortgage loan servicing rights is netted against mortgage loan servicing income and recorded in mortgage banking activities in the income statement. Troubled Debt Restructurings not may In accordance with current accounting guidance, loans modified as troubled debt restructurings are, by definition, considered to be impaired loans. Impairment for these loans is measured on a loan-by-loan basis similar to other impaired loans as described below under “Allowance for Loan Losses.” Certain loans modified as troubled debt restructurings may two The federal banking agencies issued an “ Interagency Statement on Loan Modifications and Reporting for Financial Institutions Working with Customers Affected by the Coronavirus March 22, 2020, April 7, 2020. may six not 4013 December 31, 2019 March 1, 2020 60 March 13, 2020 ( December 31, 2020, not 2020, January 1, 2022. Allowance for Loan Losses may A loan is considered to be impaired when, based on current information and events, it is probable we will be unable to collect the scheduled payments of principal and interest when due according to the contractual terms of the loan agreement. Factors considered in determining impairment include payment status, collateral value and the probability of collecting scheduled principal and interest payments when due. Loans that experience insignificant payment delays and payment shortfalls generally are not Financial institutions were not December 31, 2020. 2021, December 2020, January 1, 2022. no not Derivatives not Changes in the fair value of derivatives that are designated, for accounting purposes, as a hedge of the variability of cash flows to be received on various assets and liabilities and are effective are reported in other comprehensive income. They are later reclassified into earnings in the same periods during which the hedged transaction affects earnings and are included in the line item in which the hedged cash flows are recorded. If hedge accounting does not If designated as a hedge, we formally document the relationship between derivatives as hedged items, as well as the risk-management objective and the strategy for undertaking hedge transactions. This documentation includes linking cash flow hedges to specific assets and liabilities on the balance sheet. If designated as a hedge, we also formally assess, both at the hedge’s inception and on an ongoing basis, whether the derivative instruments that are used are highly effective in offsetting changes in cash flows of the hedged items. Ineffective hedge gains and losses are recognized immediately in current earnings as noninterest income or expense. We discontinue hedge accounting when we determine the derivative is no no Goodwill and Core Deposit Intangible may not may not not The core deposit intangible that arose from the Firstbank Corporation acquisition was initially measured at fair value and is being amortized into noninterest expense over a ten Revenue from Contracts with Customers 606, Revenue from Contracts with Customers 606” 606, not Our primary sources of revenue are derived from interest and dividends earned on loans, securities and other financial instruments that are not 606. not 606 Adoption of New Accounting Standards: June 2016, No. 2016 13, Measurement of Credit Losses on Financial Instruments 2018 19 not not December 15, 2019. Financial institutions were not December 31, 2020. 2021, December 2020, January 1, 2022. no Hastings Branch Sale 8 October 26, 2020, October 21, 2020 May 14, 2021. April 20, 2021, 1 2 3 March 31, 2021. |
Note 2 - Securities
Note 2 - Securities | 3 Months Ended |
Mar. 31, 2021 | |
Notes to Financial Statements | |
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | 2. SECURITIES The amortized cost and estimated fair value of available for sale securities and the related pre-tax gross unrealized gains and losses recognized in accumulated other comprehensive income are as follows: Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value March 31, 2021 U.S. Government agency debt obligations $ 274,038,000 $ 362,000 $ (7,572,000 ) $ 266,828,000 Mortgage-backed securities 35,211,000 925,000 (328,000 ) 35,808,000 Municipal general obligation bonds 111,294,000 4,517,000 (274,000 ) 115,537,000 Municipal revenue bonds 15,438,000 303,000 (157,000 ) 15,584,000 Other investments 500,000 0 0 500,000 $ 436,481,000 $ 6,107,000 $ (8,331,000 ) $ 434,257,000 December 31, 2020 U.S. Government agency debt obligations $ 242,522,000 $ 516,000 $ (897,000 ) $ 242,141,000 Mortgage-backed securities 23,869,000 1,021,000 0 24,890,000 Municipal general obligation bonds 101,991,000 5,833,000 0 107,824,000 Municipal revenue bonds 11,521,000 473,000 (2,000 ) 11,992,000 Other investments 500,000 0 0 500,000 $ 380,403,000 $ 7,843,000 $ (899,000 ) $ 387,347,000 Securities with unrealized losses at March 31, 2021 December 31, 2020, Less than 12 Months 12 Months or More Total Fair Unrealized Fair Unrealized Fair Unrealized Value Loss Value Loss Value Loss March 31, 2021 U.S. Government agency debt obligations $ 234,832,000 $ 7,572,000 $ 0 $ 0 $ 234,832,000 $ 7,572,000 Mortgage-backed securities 7,264,000 328,000 0 0 7,264,000 328,000 Municipal general obligation bonds 13,961,000 274,000 0 0 13,961,000 274,000 Municipal revenue bonds 6,796,000 157,000 0 0 6,796,000 157,000 $ 262,853,000 $ 8,331,000 $ 0 $ 0 $ 262,853,000 $ 8,331,000 Less than 12 Months 12 Months or More Total Fair Value Unrealized Loss Fair Value Unrealized Loss Fair Value Unrealized Loss December 31, 2020 U.S. Government agency debt obligations $ 118,650,000 $ 897,000 $ 0 $ 0 $ 118,650,000 $ 897,000 Mortgage-backed securities 0 0 0 0 0 0 Municipal general obligation bonds 0 0 0 0 0 0 Municipal revenue bonds 423,000 2,000 0 0 423,000 2,000 $ 119,073,000 $ 899,000 $ 0 $ 0 $ 119,073,000 $ 899,000 We evaluate securities for other-than-temporary impairment at least on a quarterly basis. Consideration is given to the length of time and the extent to which the fair value has been less than cost, the financial condition and near-term prospects of the issuer, and the intent and ability we have to retain our investment in the issuer for a period of time sufficient to allow for any anticipated recovery in fair value. For those debt securities whose fair value is less than their amortized cost basis, we also consider our intent to sell the security, whether it is more likely than not not may At March 31, 2021, December 31, 2020, not not not The amortized cost and fair value of debt securities at March 31, 2021, may may not Weighted Average Amortized Fair Yield (%) Cost Value Due in 2021 2.53 $ 5,414,000 $ 5,425,000 Due in 2022 through 2026 1.16 142,876,000 143,569,000 Due in 2027 through 2031 1.63 197,842,000 195,378,000 Due in 2032 and beyond 2.02 54,638,000 53,577,000 Mortgage-backed securities 1.83 35,211,000 35,808,000 Other investments 3.75 500,000 500,000 Total available for sale securities 1.55 $ 436,481,000 $ 434,257,000 Securities issued by the State of Michigan and all its political subdivisions had a combined amortized cost of $123 million and $109 million at March 31, 2021 December 31, 2020, March 31, 2021 December 31, 2020, not 10% The carrying value of U.S. Government agency debt obligations and mortgage-backed securities that are pledged to secure repurchase agreements was $141 million and $118 million at March 31, 2021 December 31, 2020, may |
Note 3 - Loans and Allowance fo
Note 3 - Loans and Allowance for Loan Losses | 3 Months Ended |
Mar. 31, 2021 | |
Notes to Financial Statements | |
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | 3. LOANS AND ALLOWANCE FOR LOAN LOSSES Loans originated for investment are stated at their principal amount outstanding adjusted for partial charge-offs, the allowance, and net deferred loan fees and costs. Interest income on loans is accrued over the term of the loans primarily using the simple interest method based on the principal balance outstanding. Interest is not Our total loans at March 31, 2021 December 31, 2020, March 31, 2021 December 31, 2020, 2020 first 2021, Percent March 31, 2021 December 31, 2020 Increase Balance % Balance % (Decrease) Commercial: Commercial and industrial (1) $ 1,284,507,000 38.2 % $ 1,145,423,000 35.9 % 12.1 % Vacant land, land development, and residential construction 58,738,000 1.7 55,055,000 1.7 6.7 Real estate – owner occupied 544,342,000 16.2 529,953,000 16.6 2.7 Real estate – non-owner occupied 932,334,000 27.7 917,436,000 28.7 0.6 Real estate – multi-family and residential rental 147,294,000 4.4 146,095,000 4.6 0.8 Total commercial 2,967,215,000 88.2 2,793,962,000 87.5 6.2 Retail: Home equity and other 59,311,000 1.8 61,620,000 1.9 (3.7 ) 1-4 family mortgages 337,844,000 10.0 337,888,000 10.6 (0.1 ) Total retail 397,155,000 11.8 399,508,000 12.5 (0.6 ) Total loans $ 3,364,370,000 100.0 % $ 3,193,470,000 100.0 % 5.4 % ( 1 Includes $455 million and $365 million in loans originated under the Paycheck Protection Program for March 31, 2021 December 31, 2020, Nonperforming loans as of March 31, 2021 December 31, 2020 March 31, December 31, 2021 2020 Loans past due 90 days or more still accruing interest $ 0 $ 0 Nonaccrual loans 2,793,000 3,384,000 Total nonperforming loans $ 2,793,000 $ 3,384,000 The recorded principal balance of nonperforming loans was as follows: March 31, December 31, 2021 2020 Commercial: Commercial and industrial $ 169,000 $ 172,000 Vacant land, land development, and residential construction 0 0 Real estate – owner occupied 283,000 619,000 Real estate – non-owner occupied 0 22,000 Real estate – multi-family and residential rental 0 0 Total commercial 452,000 813,000 Retail: Home equity and other 175,000 242,000 1-4 family mortgages 2,166,000 2,329,000 Total retail 2,341,000 2,571,000 Total nonperforming loans $ 2,793,000 $ 3,384,000 An age analysis of past due loans is as follows as of March 31, 2021: 30 – 59 Days Past Due 60 – 89 Days Past Due Greater Than 89 Days Past Due Total Past Due Current Total Loans Recorded Balance > 89 Days and Accruing Commercial: Commercial and industrial $ 593,000 $ 0 $ 169,000 $ 762,000 $ 1,283,745,000 $ 1,284,507,000 $ 0 Vacant land, land development, and residential construction 0 0 0 0 58,738,000 58,738,000 0 Real estate – owner occupied 0 137,000 283,000 420,000 543,922,000 544,342,000 0 Real estate – non-owner occupied 0 0 0 0 932,334,000 932,334,000 0 Real estate – multi-family and residential rental 0 0 0 0 147,294,000 147,294,000 0 Total commercial 593,000 137,000 452,000 1,182,000 2,966,033,000 2,967,215,000 0 Retail: Home equity and other 112,000 0 45,000 157,000 59,154,000 59,311,000 0 1-4 family mortgages 565,000 1,000 213,000 779,000 337,065,000 337,844,000 0 Total retail 677,000 1,000 258,000 936,000 396,219,000 397,155,000 0 Total past due loans $ 1,270,000 $ 138,000 $ 710,000 $ 2,118,000 $ 3,362,252,000 $ 3,364,370,000 $ 0 An age analysis of past due loans is as follows as of December 31, 2020: 30 – 59 Days Past Due 60 – 89 Days Past Due Greater Than 89 Days Past Due Total Past Due Current Total Loans Recorded Balance > 89 Days and Accruing Commercial: Commercial and industrial $ 261,000 $ 172,000 $ 0 $ 433,000 $ 1,144,990,000 $ 1,145,423,000 $ 0 Vacant land, land development, and residential construction 0 0 0 0 55,055,000 55,055,000 0 Real estate – owner occupied 0 197,000 421,000 618,000 529,335,000 529,953,000 0 Real estate – non-owner occupied 0 0 23,000 23,000 917,413,000 917,436,000 0 Real estate – multi-family and residential rental 0 0 0 0 146,095,000 146,095,000 0 Total commercial 261,000 369,000 444,000 1,074,000 2,792,888,000 2,793,962,000 0 Retail: Home equity and other 112,000 65,000 54,000 231,000 61,389,000 61,620,000 0 1-4 family mortgages 1,147,000 247,000 342,000 1,736,000 336,152,000 337,888,000 0 Total retail 1,259,000 312,000 396,000 1,967,000 397,541,000 399,508,000 0 Total past due loans $ 1,520,000 $ 681,000 $ 840,000 $ 3,041,000 $ 3,190,429,000 $ 3,193,470,000 $ 0 Impaired loans as of March 31, 2021, three March 31, 2021, First Quarter Unpaid Average Contractual Recorded Recorded Principal Principal Related Principal Balance Balance Allowance Balance With no related allowance recorded: Commercial: Commercial and industrial $ 3,587,000 $ 3,584,000 $ 4,913,000 Vacant land, land development and residential construction 0 0 0 Real estate – owner occupied 13,588,000 13,554,000 14,074,000 Real estate – non-owner occupied 312,000 312,000 326,000 Real estate – multi-family and residential rental 0 0 0 Total commercial 17,487,000 17,450,000 19,313,000 Retail: Home equity and other 1,019,000 940,000 963,000 1-4 family mortgages 4,390,000 2,525,000 2,550,000 Total retail 5,409,000 3,465,000 3,513,000 Total with no related allowance recorded $ 22,896,000 $ 20,915,000 $ 22,826,000 First Quarter Unpaid Average Contractual Recorded Recorded Principal Principal Related Principal Balance Balance Allowance Balance With an allowance recorded: Commercial: Commercial and industrial $ 348,000 $ 348,000 $ 62,000 $ 345,000 Vacant land, land development and residential construction 0 0 0 0 Real estate – owner occupied 530,000 530,000 47,000 632,000 Real estate – non-owner occupied 158,000 158,000 7,000 160,000 Real estate – multi-family and residential rental 0 0 0 0 Total commercial 1,036,000 1,036,000 116,000 1,137,000 Retail: Home equity and other 270,000 252,000 230,000 267,000 1-4 family mortgages 633,000 634,000 141,000 665,000 Total retail 903,000 886,000 371,000 932,000 Total with an allowance recorded $ 1,939,000 $ 1,922,000 $ 487,000 $ 2,069,000 Total impaired loans: Commercial $ 18,523,000 $ 18,486,000 $ 116,000 $ 20,450,000 Retail 6,312,000 4,351,000 371,000 4,445,000 Total impaired loans $ 24,835,000 $ 22,837,000 $ 487,000 $ 24,895,000 Impaired loans as of December 31, 2020, three March 31, 2020, First Quarter Unpaid Average Contractual Recorded Recorded Principal Principal Related Principal Balance Balance Allowance Balance With no related allowance recorded: Commercial: Commercial and industrial $ 6,242,000 $ 6,242,000 $ 9,148,000 Vacant land, land development and residential construction 0 0 142,000 Real estate – owner occupied 14,782,000 14,593,000 2,762,000 Real estate – non-owner occupied 341,000 341,000 89,000 Real estate – multi-family and residential rental 0 0 7,000 Total commercial 21,365,000 21,176,000 12,148,000 Retail: Home equity and other 1,072,000 987,000 1,241,000 1-4 family mortgages 4,455,000 2,575,000 2,325,000 Total retail 5,527,000 3,562,000 3,566,000 Total with no related allowance recorded $ 26,892,000 $ 24,738,000 $ 15,714,000 First Quarter Unpaid Average Contractual Recorded Recorded Principal Principal Related Principal Balance Balance Allowance Balance With an allowance recorded: Commercial: Commercial and industrial $ 343,000 $ 343,000 $ 53,000 $ 1,315,000 Vacant land, land development and residential construction 0 0 0 192,000 Real estate – owner occupied 763,000 734,000 77,000 640,000 Real estate – non-owner occupied 162,000 162,000 8,000 0 Real estate – multi-family and residential rental 0 0 0 0 Total commercial 1,268,000 1,239,000 138,000 2,147,000 Retail: Home equity and other 300,000 283,000 241,000 440,000 1-4 family mortgages 698,000 698,000 172,000 485,000 Total retail 998,000 981,000 413,000 925,000 Total with an allowance recorded $ 2,266,000 $ 2,220,000 $ 551,000 $ 3,072,000 Total impaired loans: Commercial $ 22,633,000 $ 22,415,000 $ 138,000 $ 14,295,000 Retail 6,525,000 4,543,000 413,000 4,491,000 Total impaired loans $ 29,158,000 $ 26,958,000 $ 551,000 $ 18,786,000 Impaired loans for which no first 2021 2020, first 2021 2020. first 2021 2020. Credit Quality Indicators. ten Credit quality indicators were as follows as of March 31, 2021: Commercial credit exposure – credit risk profiled by internal credit risk grades: Commercial and Industrial Commercial Vacant Land, Land Development, and Residential Construction Commercial Real Estate - Owner Occupied Commercial Real Estate - Non-Owner Occupied Commercial Real Estate - Multi-Family and Residential Rental Internal credit risk grade groupings: Grades 1 – 4 (1) $ 944,884,000 $ 22,757,000 $ 310,071,000 $ 401,697,000 $ 91,487,000 Grades 5 – 7 331,588,000 35,872,000 206,249,000 530,325,000 55,540,000 Grades 8 – 9 8,035,000 109,000 28,022,000 312,000 267,000 Total commercial $ 1,284,507,000 $ 58,738,000 $ 544,342,000 $ 932,334,000 $ 147,294,000 Retail credit exposure – credit risk profiled by collateral type: Retail Retail Home Equity 1-4 Family and Other Mortgages Performing 59,136,000 335,678,000 Nonperforming 175,000 2,166,000 Total retail $ 59,311,000 $ 337,844,000 ( 1 Included in Commercial and Industrial Loans Grades 1 4 Credit quality indicators were as follows as of December 31, 2020: Commercial credit exposure – credit risk profiled by internal credit risk grades: Commercial and Industrial Commercial Vacant Land, Land Development, and Residential Construction Commercial Real Estate - Owner Occupied Commercial Real Estate - Non-Owner Occupied Commercial Real Estate - Multi-Family and Residential Rental Internal credit risk grade groupings: Grades 1 – 4 (1) $ 828,706,000 $ 22,547,000 $ 315,134,000 $ 396,700,000 $ 91,711,000 Grades 5 – 7 306,614,000 32,398,000 185,541,000 520,395,000 54,111,000 Grades 8 – 9 10,103,000 110,000 29,278,000 341,000 273,000 Total commercial $ 1,145,423,000 $ 55,055,000 $ 529,953,000 $ 917,436,000 $ 146,095,000 Retail credit exposure – credit risk profiled by collateral type: Retail Retail Home Equity 1-4 Family and Other Mortgages Performing 61,378,000 335,559,000 Nonperforming 242,000 2,329,000 Total retail $ 61,620,000 $ 337,888,000 ( 1 Included in Commercial and Industrial Loans Grades 1 4 All commercial loans are graded using the following criteria: Grade 1. “Exceptional” Loans with this rating contain very little, if any, risk. Grade 2. “Outstanding” Loans with this rating have excellent and stable sources of repayment and conform to bank policy and regulatory requirements. Grade 3. “Very Good” Loans with this rating have strong sources of repayment and conform to bank policy and regulatory requirements. These are loans for which repayment risks are acceptable. Grade 4. “Good” Loans with this rating have solid sources of repayment and conform to bank policy and regulatory requirements. These are loans for which repayment risks are modest. Grade 5. “Acceptable” Loans with this rating exhibit acceptable sources of repayment and conform with most bank policies and all regulatory requirements. These are for loans for which repayment risks are satisfactory. Grade 6. “Monitor” Loans with this rating are considered to have emerging weaknesses which may Grade 7. “Special Mention” Loans with this rating have potential weaknesses that deserve management’s close attention. If left uncorrected, these potential weaknesses may Grade 8. “Substandard” Loans with this rate are inadequately protected by current sound net worth, paying capacity of the obligor, or of the pledged collateral, if any. A Substandard loan normally has one not Grade 9. “Doubtful” Loans with this rating exhibit all the weaknesses inherent in the Substandard classification and where collection or liquidation in full is highly questionable and improbable. Grade 10. “Loss” Loans with this rating are considered uncollectable, and of such little value that continuance as an active asset is not The primary risk elements with respect to commercial loans are the financial condition of the borrower, the sufficiency of collateral, and timeliness of scheduled payments. We have a policy of requesting and reviewing periodic financial statements from commercial loan customers and employ a disciplined and formalized review of the existence of collateral and its value. The primary risk element with respect to each residential real estate loan and consumer loan is the timeliness of scheduled payments. We have a reporting system that monitors past due loans and have adopted policies to pursue creditors’ rights in order to preserve our collateral position. Activity in the allowance for loan losses and the recorded investments in loans as of and during the three March 31, 2021 Commercial Retail Loans Loans Unallocated Total Allowance for loan losses: Beginning balance $ 33,779,000 $ 4,129,000 $ 59,000 $ 37,967,000 Provision for loan losses 583,000 (414,000 ) 131,000 300,000 Charge-offs (15,000 ) (37,000 ) 0 (52,000 ) Recoveries 364,000 116,000 0 480,000 Ending balance $ 34,711,000 $ 3,794,000 $ 190,000 $ 38,695,000 Ending balance: individually evaluated for impairment $ 116,000 $ 371,000 $ 0 $ 487,000 Ending balance: collectively evaluated for impairment $ 34,595,000 $ 3,423,000 $ 190,000 $ 38,208,000 Total loans: (*) Ending balance $ 2,512,644,000 $ 397,155,000 $ 2,909,799,000 Ending balance: individually evaluated for impairment $ 18,486,000 $ 4,351,000 $ 22,837,000 Ending balance: collectively evaluated for impairment $ 2,494,158,000 $ 392,804,000 $ 2,886,962,000 (*) Excludes $455 million in loans originated under the Paycheck Protection Program. Activity in the allowance for loan losses for loans during the three March 31, 2020 December 31, 2020 Commercial Retail Loans Loans Unallocated Total Allowance for loan losses: Beginning balance $ 21,070,000 $ 2,749,000 $ 70,000 $ 23,889,000 Provision for loan losses 573,000 247,000 (70,000 ) 750,000 Charge-offs (13,000 ) (27,000 ) 0 (40,000 ) Recoveries 120,000 109,000 0 229,000 Ending balance $ 21,750,000 $ 3,078,000 $ 0 $ 24,828,000 Ending balance: individually evaluated for impairment $ 1,169,000 $ 443,000 $ 0 $ 1,612,000 Ending balance: collectively evaluated for impairment $ 20,581,000 $ 2,635,000 $ 0 $ 23,216,000 Total loans (*): Ending balance $ 2,428,703,000 $ 399,508,000 $ 2,828,211,000 Ending balance: individually evaluated for impairment $ 22,415,000 $ 4,543,000 $ 26,958,000 Ending balance: collectively evaluated for impairment $ 2,406,288,000 $ 394,965,000 $ 2,801,253,000 (*) Excludes $365 Loans modified as troubled debt restructurings during the three March 31, 2021 Pre- Post- Modification Modification Recorded Recorded Number of Principal Principal Contracts Balance Balance Commercial: Commercial and industrial 1 $ 23,000 $ 22,000 Vacant land, land development and residential construction 0 0 0 Real estate – owner occupied 0 0 0 Real estate – non-owner occupied 0 0 0 Real estate – multi-family and residential rental 0 0 0 Total commercial 1 23,000 22,000 Retail: Home equity and other 1 71,000 71,000 1-4 family mortgages 1 36,000 36,000 Total retail 2 107,000 107,000 Total loans 3 $ 130,000 $ 129,000 Loans modified as troubled debt restructurings during the three March 31, 2020 Pre- Post- Modification Modification Recorded Recorded Number of Principal Principal Contracts Balance Balance Commercial: Commercial and industrial 6 $ 6,539,000 $ 6,536,000 Vacant land, land development and residential construction 0 0 0 Real estate – owner occupied 8 3,661,000 4,259,000 Real estate – non-owner occupied 0 0 0 Real estate – multi-family and residential rental 0 0 0 Total commercial 14 10,200,000 10,795,000 Retail: Home equity and other 3 65,000 52,000 1-4 family mortgages 0 0 0 Total retail 3 65,000 52,000 Total loans 17 $ 10,265,000 $ 10,847,000 The following loans, modified as troubled debt restructurings within the previous twelve three March 31, 2021 ( Recorded Number of Principal Contracts Balance Commercial: Commercial and industrial 2 $ 593,000 Vacant land, land development and residential construction 0 0 Real estate – owner occupied 0 0 Real estate – non-owner occupied 0 0 Real estate – multi-family and residential rental 0 0 Total commercial 2 593,000 Retail: Home equity and other 0 0 1-4 family mortgages 1 6,000 Total retail 1 6,000 Total 3 $ 599,000 The following loans, modified as troubled debt restructurings within the previous twelve 30 three March 31, 2020 ( Recorded Number of Principal Contracts Balance Commercial: Commercial and industrial 0 $ 0 Vacant land, land development and residential construction 0 0 Real estate – owner occupied 1 97,000 Real estate – non-owner occupied 0 0 Real estate – multi-family and residential rental 0 0 Total commercial 1 97,000 Retail: Home equity and other 0 0 1-4 family mortgages 0 0 Total retail 0 0 Total 1 $ 97,000 Activity for loans categorized as troubled debt restructurings during the three March 31, 2021 Commercial and Industrial Commercial Vacant Land, Land Development, and Residential Construction Commercial Real Estate - Owner Occupied Commercial Real Estate - Non-Owner Occupied Commercial Real Estate - Multi-Family and Residential Rental Commercial Loan Portfolio: Beginning Balance $ 6,414,000 $ 0 $ 14,797,000 $ 480,000 $ 0 Charge-Offs 0 0 0 0 0 Payments (2,676,000 ) 0 (910,000 ) (9,000 ) 0 Transfers to ORE 0 0 0 0 0 Net Additions/Deletions 22,000 0 0 0 0 Ending Balance $ 3,760,000 $ 0 $ 13,887,000 $ 471,000 $ 0 Retail Retail Home Equity 1-4 Family and Other Mortgages Retail Loan Portfolio: Beginning Balance $ 1,146,000 $ 806,000 Charge-Offs 0 0 Payments (118,000 ) (22,000 ) Transfers to ORE 0 0 Net Additions/Deletions 71,000 36,000 Ending Balance $ 1,099,000 $ 820,000 Activity for loans categorized as troubled debt restructurings during the three March 31, 2020 Commercial and Industrial Commercial Vacant Land, Land Development, and Residential Construction Commercial Real Estate - Owner Occupied Commercial Real Estate - Non-Owner Occupied Commercial Real Estate - Multi-Family and Residential Rental Commercial Loan Portfolio: Beginning Balance $ 8,587,000 $ 85,000 $ 1,145,000 $ 178,000 $ 7,000 Charge-Offs 0 0 0 0 0 Payments (2,832,000 ) (3,000 ) (988,000 ) (4,000 ) (4,000 ) Transfers to ORE 0 0 0 0 0 Net Additions/Deletions 6,449,000 0 3,654,000 0 0 Ending Balance $ 12,204,000 $ 82,000 $ 3,811,000 $ 174,000 $ 3,000 Retail Retail Home Equity 1-4 Family and Other Mortgages Retail Loan Portfolio: Beginning Balance $ 1,415,000 $ 724,000 Charge-Offs 0 0 Payments (29,000 ) (9,000 ) Transfers to ORE 0 0 Net Additions/Deletions 66,000 0 Ending Balance $ 1,452,000 $ 715,000 The allowance related to loans categorized as troubled debt restructurings was as follows: March 31, December 31, 2021 2020 Commercial: Commercial and industrial $ 382,000 $ 53,000 Vacant land, land development, and residential construction 0 0 Real estate – owner occupied 308,000 59,000 Real estate – non-owner occupied 0 8,000 Real estate – multi-family and residential rental 0 0 Total commercial 690,000 120,000 Retail: Home equity and other 258,000 202,000 1-4 family mortgages 86,000 145,000 Total retail 344,000 347,000 Total related allowance $ 1,034,000 $ 467,000 In general, our policy dictates that a renewal or modification of an 8 9 8 9 8 9 |
Note 4 - Premises and Equipment
Note 4 - Premises and Equipment, Net | 3 Months Ended |
Mar. 31, 2021 | |
Notes to Financial Statements | |
Property, Plant and Equipment Disclosure [Text Block] | 4. PREMISES AND EQUIPMENT, NET Premises and equipment are comprised of the following: March 31, December 31, 2021 2020 Land and improvements $ 14,258,000 $ 16,533,000 Buildings 52,717,000 56,114,000 Furniture and equipment 21,481,000 21,522,000 88,456,000 94,169,000 Less: accumulated depreciation 33,068,000 35,210,000 Premises and equipment, net $ 55,388,000 $ 58,959,000 Depreciation expense totaled $1.4 million and $1.3 million during the first 2021 2020, |
Note 5 - Deposits
Note 5 - Deposits | 3 Months Ended |
Mar. 31, 2021 | |
Notes to Financial Statements | |
Deposit Liabilities Disclosures [Text Block] | 5. DEPOSITS Our total deposits at March 31, 2021 December 31, 2020. March 31, 2021 December 31, 2020, 2020 first 2021, Percent March 31, 2021 December 31, 2020 Increase Balance % Balance % (Decrease) Noninterest-bearing checking $ 1,605,471,000 44.0 % $ 1,433,403,000 42.0 % 12.0 % Interest-bearing checking 494,495,000 13.6 473,053,000 13.9 4.5 Money market 673,944,000 18.5 611,912,000 17.9 10.1 Savings 371,344,000 10.2 338,070,000 9.9 9.8 Time, under $100,000 151,572,000 4.2 165,548,000 4.9 (8.4 ) Time, $100,000 and over 317,223,000 8.7 342,633,000 10.0 (7.4 ) Total local deposits 3,614,049,000 99.2 3,364,619,000 98.6 7.4 Out-of-area time, $100,000 and over 30,913,000 0.8 46,934,000 1.4 (34.1 ) Total deposits $ 3,644,962,000 100.0 % $ 3,411,553,000 100.0 % 6.8 % Time deposits of more than $250,000 March 31, 2021 December 31, 2020, |
Note 6 - Securities Sold Under
Note 6 - Securities Sold Under Agreements to Repurchase | 3 Months Ended |
Mar. 31, 2021 | |
Notes to Financial Statements | |
Repurchase Agreements, Resale Agreements, Securities Borrowed, and Securities Loaned Disclosure [Text Block] | 6. SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE Securities sold under agreements to repurchase (“repurchase agreements”) are offered principally to certain large deposit customers. Information relating to our repurchase agreements follows: Three Months Ended Twelve Months Ended March 31, 2021 December 31, 2020 Outstanding balance at end of period $ 141,310,000 $ 118,365,000 Average interest rate at end of period 0.11 % 0.12 % Average daily balance during the period $ 132,845,000 $ 132,880,000 Average interest rate during the period 0.11 % 0.12 % Maximum daily balance during the period $ 169,102,000 $ 173,186,000 Repurchase agreements generally have original maturities of less than one |
Note 7 - Federal Home Loan Bank
Note 7 - Federal Home Loan Bank of Indianapolis Advances | 3 Months Ended |
Mar. 31, 2021 | |
Notes to Financial Statements | |
Federal Home Loan Bank Advances, Disclosure [Text Block] | 7. FEDERAL HOME LOAN BANK OF INDIANAPOLIS ADVANCES Federal Home Loan Bank of Indianapolis (“FHLBI”) advances totaled $394 million at March 31, 2021 December 31, 2020, November 2021 June 2027, Each advance is payable at its maturity date and is subject to a prepayment fee if paid prior to the maturity date. The advances are collateralized by residential mortgage loans, first first March 31, 2021 Maturities of currently outstanding FHLBI advances are as follows: 2021 $ 20,000,000 2022 94,000,000 2023 80,000,000 2024 80,000,000 2025 50,000,000 Thereafter 70,000,000 |
Note 8 - Commitments and Off-ba
Note 8 - Commitments and Off-balance Sheet Risk | 3 Months Ended |
Mar. 31, 2021 | |
Notes to Financial Statements | |
Commitments Contingencies and Guarantees [Text Block] | 8. COMMITMENTS AND OFF-BALANCE SHEET RISK Our bank is a party to financial instruments with off-balance sheet risk in the normal course of business to meet the financing needs of its customers. These financial instruments include commitments to extend credit and standby letters of credit. Loan commitments to extend credit are agreements to lend to a customer as long as there is no third may not These instruments involve, to varying degrees, elements of credit risk in excess of the amount recognized, if any, in the balance sheet. Our bank’s maximum exposure to loan loss in the event of nonperformance by the other party to the financial instrument for commitments to extend credit and standby letters of credit is represented by the contractual notional amount of those instruments. Our bank uses the same credit policies in making commitments and conditional obligations as it does for on-balance sheet instruments. Collateral, such as accounts receivable, securities, inventory, and property and equipment, is generally obtained based on our credit assessment of the borrower. If required, estimated loss exposure resulting from these instruments is expensed and is generally recorded as a liability. There was no reserve or liability balance for these instruments as of March 31, 2021 December 31, 2020. A summary of the contractual amounts of our financial instruments with off-balance sheet risk at March 31, 2021 December 31, 2020 March 31, December 31, 2021 2020 Commercial unused lines of credit $ 1,052,778,000 $ 1,019,496,000 Unused lines of credit secured by 1 – 4 family residential properties 59,986,000 59,396,000 Credit card unused lines of credit 76,556,000 72,495,000 Other consumer unused lines of credit 35,207,000 30,707,000 Commitments to make loans 176,548,000 227,558,000 Standby letters of credit 25,933,000 20,543,000 $ 1,427,008,000 $ 1,430,195,000 |
Note 9 - Derivatives and Hedgin
Note 9 - Derivatives and Hedging Activities | 3 Months Ended |
Mar. 31, 2021 | |
Notes to Financial Statements | |
Derivative Instruments and Hedging Activities Disclosure [Text Block] | 9. DERIVATIVES AND HEDGING ACTIVITIES We are exposed to certain risks arising from both business operations and economic conditions. We principally manage the exposure to a wide variety of operational risks through core business activities. Economic risks, including interest rate, liquidity and credit risk, are primarily administered via the amount, sources and duration of assets and liabilities. Derivative financial instruments may Derivatives not not not The estimated fair values of derivative instruments as of March 31, 2021 Notional Amount Balance Sheet Location Fair Value Derivative Assets Interest rate swaps $ 65,855,000 Other Assets $ 787,000 Derivative Liabilities Interest rate swaps 65,855,000 Other Liabilities 810,000 The effect of interest rate swaps that are not first 2021. The estimated fair value of interest rate swaps in a net liability position, which includes accrued interest but excludes any adjustment for nonperformance risk related to these agreements, was $0.8 million as of March 31, 2021. March 31, 2021. Interest rate swaps entered into with commercial loan customers had notional amounts aggregating $65.9 million as of March 31, 2021. The estimated fair values of derivative instruments as of December 31, 2020 Notional Amount Balance Sheet Location Fair Value Derivative Assets Interest rate swaps $ 33,731,000 Other Assets $ 1,003,000 Derivative Liabilities Interest rate swaps 33,731,000 Other Liabilities 1,027,000 The effect of interest rate swaps that are not December 31, 2020. The estimated fair value of interest rate swaps in a net liability position, which includes accrued interest but excludes any adjustment for nonperformance risk related to these agreements, was $1.0 million as of December 31, 2020. December 31, 2020. Interest rate swaps entered into with commercial loan customers had notional amounts aggregating $33.7 million as of December 31, 2020. |
Note 10 - Fair Values of Financ
Note 10 - Fair Values of Financial Instruments | 3 Months Ended |
Mar. 31, 2021 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | 10. FAIR VALUES OF FINANCIAL INSTRUMENTS The carrying amounts, estimated fair values and level within the fair value hierarchy of financial instruments were as follows as of March 31, 2021 December 31, 2020 ( Level in March 31, 2021 December 31, 2020 Fair Value Carrying Fair Carrying Fair Hierarchy Values Values Values Values Financial assets: Cash Level 1 $ 16,853 $ 16,853 $ 16,953 $ 16,953 Cash equivalents Level 2 635,491 635,491 609,053 609,053 Securities available for sale (1) 434,257 434,257 387,347 387,347 FHLBI stock (2) 18,002 18,002 18,002 18,002 Loans, net Level 3 3,325,675 3,463,032 3,155,503 3,294,522 Mortgage loans held for sale Level 2 40,297 41,318 22,888 24,029 Mortgage servicing rights Level 2 9,029 11,036 8,189 10,006 Accrued interest receivable Level 2 11,832 11,832 10,861 10,861 Financial liabilities: Deposits Level 2 3,644,962 3,648,390 3,411,553 3,397,768 Repurchase agreements Level 2 141,310 141,310 118,365 118,365 FHLBI advances Level 2 394,000 409,589 394,000 410,881 Subordinated debentures Level 2 47,733 47,733 47,563 47,574 Liabilities held for sale Level 2 17,280 18,144 0 0 Accrued interest payable Level 2 2,056 2,056 2,313 2,313 ( 1 See Note 11 ( 2 It is not Carrying amount is the estimated fair value for cash and cash equivalents, FHLBI stock, accrued interest receivable and payable, noninterest-bearing checking accounts and securities sold under agreements to repurchase. Security fair values are based on market prices or dealer quotes, and if no 2016 01, |
Note 11 - Fair Values
Note 11 - Fair Values | 3 Months Ended |
Mar. 31, 2021 | |
Notes to Financial Statements | |
Fair Value Measurement and Measurement Inputs, Recurring and Nonrecurring [Text Block] | 11. FAIR VALUES Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. A fair value measurement assumes that the transaction to sell the asset or transfer the liability occurs in the principal market for the asset or liability, or in the absence of a principal market, the most advantageous market for the asset or liability. The price of the principal (or most advantageous) market used to measure the fair value of the asset or liability is not not We are required to use valuation techniques that are consistent with the market approach, the income approach and/or the cost approach. The market approach uses prices and other relevant information generated by market transactions involving identical or comparable assets and liabilities. The income approach uses valuation techniques to convert future amounts, such as cash flows or earnings, to a single present amount on a discounted basis. The cost approach is based on the amount that currently would be required to replace the service capacity of an asset (replacement cost). Valuation techniques should be consistently applied. Inputs to valuation techniques refer to the assumptions that market participants would use in pricing the asset or liability. Inputs may Level 1: Level 2: 1 not Level 3: The following is a description of our valuation methodologies used to measure and disclose the fair values of our financial assets and liabilities that are recorded at fair value on a recurring or nonrecurring basis: Securities available for sale. not 2 3 March 31, 2021 December 31, 2020. 1 Derivatives Mortgage loans held for sale March 31, 2021 December 31, 2020, Loans not Foreclosed Assets. Assets and Liabilities Measured at Fair Value on a Recurring Basis The balances of assets and liabilities measured at fair value on a recurring basis as of March 31, 2021 Quoted Prices in Active Significant Markets for Other Significant Identical Observable Unobservable Assets Inputs Inputs Total (Level 1) (Level 2) (Level 3) Available for sale securities U.S. Government agency debt obligations $ 266,828,000 $ 0 $ 266,828,000 $ 0 Mortgage-backed securities 35,808,000 0 35,808,000 0 Municipal general obligation bonds 115,537,000 0 114,771,000 766,000 Municipal revenue bonds 15,584,000 0 15,584,000 0 Other investments 500,000 0 500,000 0 Total $ 434,257,000 $ 0 $ 433,491,000 $ 766,000 There were no 1, 2 3 first three 2021. The balances of assets and liabilities measured at fair value on a recurring basis as of December 31, 2020 Quoted Prices in Active Significant Markets for Other Significant Identical Observable Unobservable Assets Inputs Inputs Total (Level 1) (Level 2) (Level 3) Available for sale securities U.S. Government agency debt obligations $ 242,141,000 $ 0 $ 242,141,000 $ 0 Mortgage-backed securities 24,890,000 0 24,890,000 0 Municipal general obligation bonds 107,824,000 0 107,058,000 766,000 Municipal revenue bonds 11,992,000 0 11,992,000 0 Other investments 500,000 0 500,000 0 Total $ 387,347,000 $ 0 $ 386,581,000 $ 766,000 There were no 1, 2 3 2020. Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis The balances of assets and liabilities measured at fair value on a nonrecurring basis as of March 31, 2021 Quoted Prices in Active Significant Markets for Other Significant Identical Observable Unobservable Assets Inputs Inputs Total (Level 1) (Level 2) (Level 3) Impaired loans $ 2,425,000 $ 0 $ 0 $ 2,425,000 Foreclosed assets 374,000 0 0 374,000 Total $ 2,799,000 $ 0 $ 0 $ 2,799,000 The balances of assets and liabilities measured at fair value on a nonrecurring basis as of December 31, 2020 Quoted Prices in Active Significant Markets for Other Significant Identical Observable Unobservable Assets Inputs Inputs Total (Level 1) (Level 2) (Level 3) Impaired loans $ 2,880,000 $ 0 $ 0 $ 2,880,000 Foreclosed assets 701,000 0 0 701,000 Total $ 3,581,000 $ 0 $ 0 $ 3,581,000 The carrying values are based on the estimated value of the property or other assets. Fair value estimates of collateral on impaired loans and foreclosed assets are reviewed periodically. Our credit policies establish criteria for obtaining appraisals and determining internal value estimates. We may may |
Note 12 - Regulatory Matters
Note 12 - Regulatory Matters | 3 Months Ended |
Mar. 31, 2021 | |
Notes to Financial Statements | |
Regulatory Capital Requirements under Banking Regulations [Text Block] | 12. REGULATORY MATTERS We are subject to regulatory capital requirements administered by federal banking agencies. Capital adequacy guidelines and prompt corrective action regulations involve quantitative measures of assets, liabilities, and certain off-balance sheet items calculated under regulatory accounting practices. Capital amounts and classifications are also subject to qualitative judgments by regulators about components, risk weightings, and other factors, and the regulators can lower classifications in certain cases. Failure to meet various capital requirements can initiate regulatory action that could have a direct material effect on our financial statements. The prompt corrective action regulations provide five not not no may may March 31, 2021 December 31, 2020, no March 31, 2021 Our actual capital levels (dollars in thousands) and the minimum levels required to be categorized as adequately and well capitalized were: Minimum Required to be Well Minimum Required Capitalized Under for Capital Prompt Corrective Actual Adequacy Purposes Action Regulations Amount Ratio Amount Ratio Amount Ratio March 31, 2021 Total capital (to risk weighted assets) Consolidated $ 476,462 13.5 % $ 282,093 8.0 % NA NA Bank 467,325 13.3 281,968 8.0 352,460 10.0 % Tier 1 capital (to risk weighted assets) Consolidated 437,567 12.4 211,570 6.0 NA NA Bank 428,430 12.2 211,476 6.0 281,968 8.0 Common equity tier 1 (to risk weighted assets) Consolidated 391,908 11.1 158,678 4.5 NA NA Bank 428,430 12.2 158,607 4.5 229,099 6.5 Tier 1 capital (to average assets) Consolidated 437,567 9.7 180,944 4.0 NA NA Bank 428,430 9.5 180,882 4.0 226,102 5.0 December 31, 2020 Total capital (to risk weighted assets) Consolidated $ 468,113 13.8 % $ 271,325 8.0 % NA NA Bank 457,203 13.5 271,196 8.0 338,995 10.0 % Tier 1 capital (to risk weighted assets) Consolidated 430,146 12.7 203,494 6.0 NA NA Bank 419,236 12.4 203,397 6.0 271,196 8.0 Common equity tier 1 (to risk weighted assets) Consolidated 384,658 11.3 152,621 4.5 NA NA Bank 419,236 12.4 152,548 4.5 220,347 6.5 Tier 1 capital (to average assets) Consolidated 430,146 9.8 176,053 4.0 NA NA Bank 419,236 9.5 175,999 4.0 219,999 5.0 Our consolidated capital levels as of March 31, 2021 December 31, 2020 may 1 not 1 not May 19, 2010, December 31, 2009 March 31, 2021 December 31, 2020, 1 Under the final BASEL III capital rules that became effective on January 1, 2015, 1 not three 2016. 1 1 January 1, 2019. March 31, 2021, Our and our bank’s ability to pay cash and stock dividends is subject to limitations under various laws and regulations and to prudent and sound banking practices. On January 14, 2021, March 17, 2021 March 5, 2021. April 15, 2021, June 16, 2021 June 4, 2021. In May 2019, first 2021, March 31, 2021. may |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 3 Months Ended |
Mar. 31, 2021 | |
Accounting Policies [Abstract] | |
Consolidation, Policy [Policy Text Block] | Basis of Presentation three March 31, 2021 10 303 not not March 31, 2021 not 10 December 31, 2020. We have five not |
Effect of Covid-19 Pandemic, Policy [Policy Text Block] | Coronavirus Pandemic first second 2020 2019 19” 2 19 The Coronavirus Pandemic is a highly unusual, unprecedented and evolving public health and economic crisis and may may may The following section summarizes the primary measures that directly impact us and our customers. ● Paycheck Protection Program The Paycheck Protection Program (“PPP”) reflects a substantial expansion of the Small Business Administration’s 100% 7 $350 500 100% 100% 1.00%, August 8, 2020. March 31, 2021, first 2021. The Consolidated Appropriations Act, 2021 $284 second 2 May 31, 2021. March 31, 2021, first 2021. A PPP loan is assigned a risk weight of 0% ● Individual Economic Impact Payments The Internal Revenue Service has made three $1,200 April 2020, $600 January 2021 $1,400 March 2021. ● Troubled Debt Restructuring Relief From March 1, 2020 60 December 31, 2020 may 19 2021 January 1, 2022. ● Current Expected Credit Loss Methodology Delay Financial institutions are not December 31, 2020. 2021 January 1, 2022. In early April 2020, three three 12 three three three three nine 0% At the peak of activity in mid- 2020, March 31, 2021, two 90 three June 30, 2020, April, May June 2020 March 31, 2021, ten |
Earnings Per Share, Policy [Policy Text Block] | Earnings Per Share Approximately 262,000 unvested restricted shares were included in determining both basic and diluted earnings per share for the three March 31, 2021. three March 31, 2021. not three March 31, 2021. Approximately 256,000 unvested restricted shares were included in determining both basic and diluted earnings per share for the three March 31, 2020. three March 31, 2020. not three March 31, 2020. |
Marketable Securities, Policy [Policy Text Block] | Securities Interest income includes amortization of purchase premiums and accretion of discounts. Premiums and discounts on securities are amortized or accreted on the level-yield method without anticipating prepayments, except for mortgage-backed securities where prepayments are anticipated. Gains and losses on sales are recorded on the trade date and determined using the specific identification method. Declines in the fair value of debt securities below their amortized cost that are other-than-temporary impairment (“OTTI”) are reflected in earnings or other comprehensive income, as appropriate. For those debt securities whose fair value is less than their amortized cost, we consider our intent to sell the security, whether it is more likely than not not two 1 2 |
Financing Receivable, Held-for-investment [Policy Text Block] | Loans Interest income on commercial loans and mortgage loans is discontinued at the time the loan is 90 days delinquent unless the loan is well-secured and in process of collection. Consumer and credit card loans are typically charged-off no All interest accrued but not |
Financing Receivable, Held-for-sale [Policy Text Block] | Loans Held for Sale March 31, 2021 December 31, 2020, Mortgage loans held for sale are generally sold with servicing rights retained. Gains and losses on sales of mortgage loans are based on the difference between the selling price and the carrying value of the related loan sold, which is reduced by the cost allocated to the servicing right. We generally lock in the sale price to the purchaser of the mortgage loan at the same time we make an interest rate commitment to the borrower. These mortgage banking activities are not March 31, 2021 December 31, 2020, |
Mortgage Banking Activity [Policy Text Block] | Mortgage Banking Activities Servicing fee income is recorded for fees earned for servicing mortgage loans. The fees are based on a contractual percentage of the outstanding principal or a fixed amount per loan and are recorded as income when earned. Amortization of mortgage loan servicing rights is netted against mortgage loan servicing income and recorded in mortgage banking activities in the income statement. |
Troubled Debt Restructuring [Policy Text Block] | Troubled Debt Restructurings not may In accordance with current accounting guidance, loans modified as troubled debt restructurings are, by definition, considered to be impaired loans. Impairment for these loans is measured on a loan-by-loan basis similar to other impaired loans as described below under “Allowance for Loan Losses.” Certain loans modified as troubled debt restructurings may two The federal banking agencies issued an “ Interagency Statement on Loan Modifications and Reporting for Financial Institutions Working with Customers Affected by the Coronavirus March 22, 2020, April 7, 2020. may six not 4013 December 31, 2019 March 1, 2020 60 March 13, 2020 ( December 31, 2020, not 2020, January 1, 2022. |
Loans and Leases Receivable, Allowance for Loan Losses Policy [Policy Text Block] | Allowance for Loan Losses may A loan is considered to be impaired when, based on current information and events, it is probable we will be unable to collect the scheduled payments of principal and interest when due according to the contractual terms of the loan agreement. Factors considered in determining impairment include payment status, collateral value and the probability of collecting scheduled principal and interest payments when due. Loans that experience insignificant payment delays and payment shortfalls generally are not Financial institutions were not December 31, 2020. 2021, December 2020, January 1, 2022. no not |
Derivatives, Policy [Policy Text Block] | Derivatives not Changes in the fair value of derivatives that are designated, for accounting purposes, as a hedge of the variability of cash flows to be received on various assets and liabilities and are effective are reported in other comprehensive income. They are later reclassified into earnings in the same periods during which the hedged transaction affects earnings and are included in the line item in which the hedged cash flows are recorded. If hedge accounting does not If designated as a hedge, we formally document the relationship between derivatives as hedged items, as well as the risk-management objective and the strategy for undertaking hedge transactions. This documentation includes linking cash flow hedges to specific assets and liabilities on the balance sheet. If designated as a hedge, we also formally assess, both at the hedge’s inception and on an ongoing basis, whether the derivative instruments that are used are highly effective in offsetting changes in cash flows of the hedged items. Ineffective hedge gains and losses are recognized immediately in current earnings as noninterest income or expense. We discontinue hedge accounting when we determine the derivative is no no |
Goodwill and Intangible Assets, Policy [Policy Text Block] | Goodwill and Core Deposit Intangible may not may not not The core deposit intangible that arose from the Firstbank Corporation acquisition was initially measured at fair value and is being amortized into noninterest expense over a ten |
Revenue from Contract with Customer [Policy Text Block] | Revenue from Contracts with Customers 606, Revenue from Contracts with Customers 606” 606, not Our primary sources of revenue are derived from interest and dividends earned on loans, securities and other financial instruments that are not 606. not 606 |
New Accounting Pronouncements, Policy [Policy Text Block] | Adoption of New Accounting Standards: June 2016, No. 2016 13, Measurement of Credit Losses on Financial Instruments 2018 19 not not December 15, 2019. Financial institutions were not December 31, 2020. 2021, December 2020, January 1, 2022. no |
Disposal Group [Policy Text Block] | Hastings Branch Sale 8 October 26, 2020, October 21, 2020 May 14, 2021. April 20, 2021, 1 2 3 March 31, 2021. |
Note 2 - Securities (Tables)
Note 2 - Securities (Tables) | 3 Months Ended |
Mar. 31, 2021 | |
Notes Tables | |
Available-for-sale Securities [Table Text Block] | Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value March 31, 2021 U.S. Government agency debt obligations $ 274,038,000 $ 362,000 $ (7,572,000 ) $ 266,828,000 Mortgage-backed securities 35,211,000 925,000 (328,000 ) 35,808,000 Municipal general obligation bonds 111,294,000 4,517,000 (274,000 ) 115,537,000 Municipal revenue bonds 15,438,000 303,000 (157,000 ) 15,584,000 Other investments 500,000 0 0 500,000 $ 436,481,000 $ 6,107,000 $ (8,331,000 ) $ 434,257,000 December 31, 2020 U.S. Government agency debt obligations $ 242,522,000 $ 516,000 $ (897,000 ) $ 242,141,000 Mortgage-backed securities 23,869,000 1,021,000 0 24,890,000 Municipal general obligation bonds 101,991,000 5,833,000 0 107,824,000 Municipal revenue bonds 11,521,000 473,000 (2,000 ) 11,992,000 Other investments 500,000 0 0 500,000 $ 380,403,000 $ 7,843,000 $ (899,000 ) $ 387,347,000 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value [Table Text Block] | Less than 12 Months 12 Months or More Total Fair Unrealized Fair Unrealized Fair Unrealized Value Loss Value Loss Value Loss March 31, 2021 U.S. Government agency debt obligations $ 234,832,000 $ 7,572,000 $ 0 $ 0 $ 234,832,000 $ 7,572,000 Mortgage-backed securities 7,264,000 328,000 0 0 7,264,000 328,000 Municipal general obligation bonds 13,961,000 274,000 0 0 13,961,000 274,000 Municipal revenue bonds 6,796,000 157,000 0 0 6,796,000 157,000 $ 262,853,000 $ 8,331,000 $ 0 $ 0 $ 262,853,000 $ 8,331,000 Less than 12 Months 12 Months or More Total Fair Value Unrealized Loss Fair Value Unrealized Loss Fair Value Unrealized Loss December 31, 2020 U.S. Government agency debt obligations $ 118,650,000 $ 897,000 $ 0 $ 0 $ 118,650,000 $ 897,000 Mortgage-backed securities 0 0 0 0 0 0 Municipal general obligation bonds 0 0 0 0 0 0 Municipal revenue bonds 423,000 2,000 0 0 423,000 2,000 $ 119,073,000 $ 899,000 $ 0 $ 0 $ 119,073,000 $ 899,000 |
Investments Classified by Contractual Maturity Date [Table Text Block] | Weighted Average Amortized Fair Yield (%) Cost Value Due in 2021 2.53 $ 5,414,000 $ 5,425,000 Due in 2022 through 2026 1.16 142,876,000 143,569,000 Due in 2027 through 2031 1.63 197,842,000 195,378,000 Due in 2032 and beyond 2.02 54,638,000 53,577,000 Mortgage-backed securities 1.83 35,211,000 35,808,000 Other investments 3.75 500,000 500,000 Total available for sale securities 1.55 $ 436,481,000 $ 434,257,000 |
Note 3 - Loans and Allowance _2
Note 3 - Loans and Allowance for Loan Losses (Tables) | 3 Months Ended |
Mar. 31, 2021 | |
Notes Tables | |
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | Percent March 31, 2021 December 31, 2020 Increase Balance % Balance % (Decrease) Commercial: Commercial and industrial (1) $ 1,284,507,000 38.2 % $ 1,145,423,000 35.9 % 12.1 % Vacant land, land development, and residential construction 58,738,000 1.7 55,055,000 1.7 6.7 Real estate – owner occupied 544,342,000 16.2 529,953,000 16.6 2.7 Real estate – non-owner occupied 932,334,000 27.7 917,436,000 28.7 0.6 Real estate – multi-family and residential rental 147,294,000 4.4 146,095,000 4.6 0.8 Total commercial 2,967,215,000 88.2 2,793,962,000 87.5 6.2 Retail: Home equity and other 59,311,000 1.8 61,620,000 1.9 (3.7 ) 1-4 family mortgages 337,844,000 10.0 337,888,000 10.6 (0.1 ) Total retail 397,155,000 11.8 399,508,000 12.5 (0.6 ) Total loans $ 3,364,370,000 100.0 % $ 3,193,470,000 100.0 % 5.4 % |
Financing Receivable, Nonaccrual [Table Text Block] | March 31, December 31, 2021 2020 Loans past due 90 days or more still accruing interest $ 0 $ 0 Nonaccrual loans 2,793,000 3,384,000 Total nonperforming loans $ 2,793,000 $ 3,384,000 March 31, December 31, 2021 2020 Commercial: Commercial and industrial $ 169,000 $ 172,000 Vacant land, land development, and residential construction 0 0 Real estate – owner occupied 283,000 619,000 Real estate – non-owner occupied 0 22,000 Real estate – multi-family and residential rental 0 0 Total commercial 452,000 813,000 Retail: Home equity and other 175,000 242,000 1-4 family mortgages 2,166,000 2,329,000 Total retail 2,341,000 2,571,000 Total nonperforming loans $ 2,793,000 $ 3,384,000 |
Financing Receivable, Past Due [Table Text Block] | 30 – 59 Days Past Due 60 – 89 Days Past Due Greater Than 89 Days Past Due Total Past Due Current Total Loans Recorded Balance > 89 Days and Accruing Commercial: Commercial and industrial $ 593,000 $ 0 $ 169,000 $ 762,000 $ 1,283,745,000 $ 1,284,507,000 $ 0 Vacant land, land development, and residential construction 0 0 0 0 58,738,000 58,738,000 0 Real estate – owner occupied 0 137,000 283,000 420,000 543,922,000 544,342,000 0 Real estate – non-owner occupied 0 0 0 0 932,334,000 932,334,000 0 Real estate – multi-family and residential rental 0 0 0 0 147,294,000 147,294,000 0 Total commercial 593,000 137,000 452,000 1,182,000 2,966,033,000 2,967,215,000 0 Retail: Home equity and other 112,000 0 45,000 157,000 59,154,000 59,311,000 0 1-4 family mortgages 565,000 1,000 213,000 779,000 337,065,000 337,844,000 0 Total retail 677,000 1,000 258,000 936,000 396,219,000 397,155,000 0 Total past due loans $ 1,270,000 $ 138,000 $ 710,000 $ 2,118,000 $ 3,362,252,000 $ 3,364,370,000 $ 0 30 – 59 Days Past Due 60 – 89 Days Past Due Greater Than 89 Days Past Due Total Past Due Current Total Loans Recorded Balance > 89 Days and Accruing Commercial: Commercial and industrial $ 261,000 $ 172,000 $ 0 $ 433,000 $ 1,144,990,000 $ 1,145,423,000 $ 0 Vacant land, land development, and residential construction 0 0 0 0 55,055,000 55,055,000 0 Real estate – owner occupied 0 197,000 421,000 618,000 529,335,000 529,953,000 0 Real estate – non-owner occupied 0 0 23,000 23,000 917,413,000 917,436,000 0 Real estate – multi-family and residential rental 0 0 0 0 146,095,000 146,095,000 0 Total commercial 261,000 369,000 444,000 1,074,000 2,792,888,000 2,793,962,000 0 Retail: Home equity and other 112,000 65,000 54,000 231,000 61,389,000 61,620,000 0 1-4 family mortgages 1,147,000 247,000 342,000 1,736,000 336,152,000 337,888,000 0 Total retail 1,259,000 312,000 396,000 1,967,000 397,541,000 399,508,000 0 Total past due loans $ 1,520,000 $ 681,000 $ 840,000 $ 3,041,000 $ 3,190,429,000 $ 3,193,470,000 $ 0 |
Impaired Financing Receivables [Table Text Block] | First Quarter Unpaid Average Contractual Recorded Recorded Principal Principal Related Principal Balance Balance Allowance Balance With no related allowance recorded: Commercial: Commercial and industrial $ 3,587,000 $ 3,584,000 $ 4,913,000 Vacant land, land development and residential construction 0 0 0 Real estate – owner occupied 13,588,000 13,554,000 14,074,000 Real estate – non-owner occupied 312,000 312,000 326,000 Real estate – multi-family and residential rental 0 0 0 Total commercial 17,487,000 17,450,000 19,313,000 Retail: Home equity and other 1,019,000 940,000 963,000 1-4 family mortgages 4,390,000 2,525,000 2,550,000 Total retail 5,409,000 3,465,000 3,513,000 Total with no related allowance recorded $ 22,896,000 $ 20,915,000 $ 22,826,000 First Quarter Unpaid Average Contractual Recorded Recorded Principal Principal Related Principal Balance Balance Allowance Balance With an allowance recorded: Commercial: Commercial and industrial $ 348,000 $ 348,000 $ 62,000 $ 345,000 Vacant land, land development and residential construction 0 0 0 0 Real estate – owner occupied 530,000 530,000 47,000 632,000 Real estate – non-owner occupied 158,000 158,000 7,000 160,000 Real estate – multi-family and residential rental 0 0 0 0 Total commercial 1,036,000 1,036,000 116,000 1,137,000 Retail: Home equity and other 270,000 252,000 230,000 267,000 1-4 family mortgages 633,000 634,000 141,000 665,000 Total retail 903,000 886,000 371,000 932,000 Total with an allowance recorded $ 1,939,000 $ 1,922,000 $ 487,000 $ 2,069,000 Total impaired loans: Commercial $ 18,523,000 $ 18,486,000 $ 116,000 $ 20,450,000 Retail 6,312,000 4,351,000 371,000 4,445,000 Total impaired loans $ 24,835,000 $ 22,837,000 $ 487,000 $ 24,895,000 First Quarter Unpaid Average Contractual Recorded Recorded Principal Principal Related Principal Balance Balance Allowance Balance With no related allowance recorded: Commercial: Commercial and industrial $ 6,242,000 $ 6,242,000 $ 9,148,000 Vacant land, land development and residential construction 0 0 142,000 Real estate – owner occupied 14,782,000 14,593,000 2,762,000 Real estate – non-owner occupied 341,000 341,000 89,000 Real estate – multi-family and residential rental 0 0 7,000 Total commercial 21,365,000 21,176,000 12,148,000 Retail: Home equity and other 1,072,000 987,000 1,241,000 1-4 family mortgages 4,455,000 2,575,000 2,325,000 Total retail 5,527,000 3,562,000 3,566,000 Total with no related allowance recorded $ 26,892,000 $ 24,738,000 $ 15,714,000 First Quarter Unpaid Average Contractual Recorded Recorded Principal Principal Related Principal Balance Balance Allowance Balance With an allowance recorded: Commercial: Commercial and industrial $ 343,000 $ 343,000 $ 53,000 $ 1,315,000 Vacant land, land development and residential construction 0 0 0 192,000 Real estate – owner occupied 763,000 734,000 77,000 640,000 Real estate – non-owner occupied 162,000 162,000 8,000 0 Real estate – multi-family and residential rental 0 0 0 0 Total commercial 1,268,000 1,239,000 138,000 2,147,000 Retail: Home equity and other 300,000 283,000 241,000 440,000 1-4 family mortgages 698,000 698,000 172,000 485,000 Total retail 998,000 981,000 413,000 925,000 Total with an allowance recorded $ 2,266,000 $ 2,220,000 $ 551,000 $ 3,072,000 Total impaired loans: Commercial $ 22,633,000 $ 22,415,000 $ 138,000 $ 14,295,000 Retail 6,525,000 4,543,000 413,000 4,491,000 Total impaired loans $ 29,158,000 $ 26,958,000 $ 551,000 $ 18,786,000 |
Financing Receivable Credit Quality Indicators [Table Text Block] | Commercial and Industrial Commercial Vacant Land, Land Development, and Residential Construction Commercial Real Estate - Owner Occupied Commercial Real Estate - Non-Owner Occupied Commercial Real Estate - Multi-Family and Residential Rental Internal credit risk grade groupings: Grades 1 – 4 (1) $ 944,884,000 $ 22,757,000 $ 310,071,000 $ 401,697,000 $ 91,487,000 Grades 5 – 7 331,588,000 35,872,000 206,249,000 530,325,000 55,540,000 Grades 8 – 9 8,035,000 109,000 28,022,000 312,000 267,000 Total commercial $ 1,284,507,000 $ 58,738,000 $ 544,342,000 $ 932,334,000 $ 147,294,000 Commercial and Industrial Commercial Vacant Land, Land Development, and Residential Construction Commercial Real Estate - Owner Occupied Commercial Real Estate - Non-Owner Occupied Commercial Real Estate - Multi-Family and Residential Rental Internal credit risk grade groupings: Grades 1 – 4 (1) $ 828,706,000 $ 22,547,000 $ 315,134,000 $ 396,700,000 $ 91,711,000 Grades 5 – 7 306,614,000 32,398,000 185,541,000 520,395,000 54,111,000 Grades 8 – 9 10,103,000 110,000 29,278,000 341,000 273,000 Total commercial $ 1,145,423,000 $ 55,055,000 $ 529,953,000 $ 917,436,000 $ 146,095,000 |
Financing Receivable, Allowance for Credit Loss [Table Text Block] | Commercial Retail Loans Loans Unallocated Total Allowance for loan losses: Beginning balance $ 33,779,000 $ 4,129,000 $ 59,000 $ 37,967,000 Provision for loan losses 583,000 (414,000 ) 131,000 300,000 Charge-offs (15,000 ) (37,000 ) 0 (52,000 ) Recoveries 364,000 116,000 0 480,000 Ending balance $ 34,711,000 $ 3,794,000 $ 190,000 $ 38,695,000 Ending balance: individually evaluated for impairment $ 116,000 $ 371,000 $ 0 $ 487,000 Ending balance: collectively evaluated for impairment $ 34,595,000 $ 3,423,000 $ 190,000 $ 38,208,000 Total loans: (*) Ending balance $ 2,512,644,000 $ 397,155,000 $ 2,909,799,000 Ending balance: individually evaluated for impairment $ 18,486,000 $ 4,351,000 $ 22,837,000 Ending balance: collectively evaluated for impairment $ 2,494,158,000 $ 392,804,000 $ 2,886,962,000 Commercial Retail Loans Loans Unallocated Total Allowance for loan losses: Beginning balance $ 21,070,000 $ 2,749,000 $ 70,000 $ 23,889,000 Provision for loan losses 573,000 247,000 (70,000 ) 750,000 Charge-offs (13,000 ) (27,000 ) 0 (40,000 ) Recoveries 120,000 109,000 0 229,000 Ending balance $ 21,750,000 $ 3,078,000 $ 0 $ 24,828,000 Ending balance: individually evaluated for impairment $ 1,169,000 $ 443,000 $ 0 $ 1,612,000 Ending balance: collectively evaluated for impairment $ 20,581,000 $ 2,635,000 $ 0 $ 23,216,000 Total loans (*): Ending balance $ 2,428,703,000 $ 399,508,000 $ 2,828,211,000 Ending balance: individually evaluated for impairment $ 22,415,000 $ 4,543,000 $ 26,958,000 Ending balance: collectively evaluated for impairment $ 2,406,288,000 $ 394,965,000 $ 2,801,253,000 |
Financing Receivable, Troubled Debt Restructuring [Table Text Block] | Pre- Post- Modification Modification Recorded Recorded Number of Principal Principal Contracts Balance Balance Commercial: Commercial and industrial 1 $ 23,000 $ 22,000 Vacant land, land development and residential construction 0 0 0 Real estate – owner occupied 0 0 0 Real estate – non-owner occupied 0 0 0 Real estate – multi-family and residential rental 0 0 0 Total commercial 1 23,000 22,000 Retail: Home equity and other 1 71,000 71,000 1-4 family mortgages 1 36,000 36,000 Total retail 2 107,000 107,000 Total loans 3 $ 130,000 $ 129,000 Pre- Post- Modification Modification Recorded Recorded Number of Principal Principal Contracts Balance Balance Commercial: Commercial and industrial 6 $ 6,539,000 $ 6,536,000 Vacant land, land development and residential construction 0 0 0 Real estate – owner occupied 8 3,661,000 4,259,000 Real estate – non-owner occupied 0 0 0 Real estate – multi-family and residential rental 0 0 0 Total commercial 14 10,200,000 10,795,000 Retail: Home equity and other 3 65,000 52,000 1-4 family mortgages 0 0 0 Total retail 3 65,000 52,000 Total loans 17 $ 10,265,000 $ 10,847,000 |
Troubled Debt Restructurings on Financing Receivables with in Previous Twelve Months that Became Over Thirty Days Past Due [Table Text Block] | Recorded Number of Principal Contracts Balance Commercial: Commercial and industrial 2 $ 593,000 Vacant land, land development and residential construction 0 0 Real estate – owner occupied 0 0 Real estate – non-owner occupied 0 0 Real estate – multi-family and residential rental 0 0 Total commercial 2 593,000 Retail: Home equity and other 0 0 1-4 family mortgages 1 6,000 Total retail 1 6,000 Total 3 $ 599,000 Recorded Number of Principal Contracts Balance Commercial: Commercial and industrial 0 $ 0 Vacant land, land development and residential construction 0 0 Real estate – owner occupied 1 97,000 Real estate – non-owner occupied 0 0 Real estate – multi-family and residential rental 0 0 Total commercial 1 97,000 Retail: Home equity and other 0 0 1-4 family mortgages 0 0 Total retail 0 0 Total 1 $ 97,000 |
Trouble Debt Restructuring Activity [Table Text Block] | Commercial and Industrial Commercial Vacant Land, Land Development, and Residential Construction Commercial Real Estate - Owner Occupied Commercial Real Estate - Non-Owner Occupied Commercial Real Estate - Multi-Family and Residential Rental Commercial Loan Portfolio: Beginning Balance $ 6,414,000 $ 0 $ 14,797,000 $ 480,000 $ 0 Charge-Offs 0 0 0 0 0 Payments (2,676,000 ) 0 (910,000 ) (9,000 ) 0 Transfers to ORE 0 0 0 0 0 Net Additions/Deletions 22,000 0 0 0 0 Ending Balance $ 3,760,000 $ 0 $ 13,887,000 $ 471,000 $ 0 Retail Retail Home Equity 1-4 Family and Other Mortgages Retail Loan Portfolio: Beginning Balance $ 1,146,000 $ 806,000 Charge-Offs 0 0 Payments (118,000 ) (22,000 ) Transfers to ORE 0 0 Net Additions/Deletions 71,000 36,000 Ending Balance $ 1,099,000 $ 820,000 Commercial and Industrial Commercial Vacant Land, Land Development, and Residential Construction Commercial Real Estate - Owner Occupied Commercial Real Estate - Non-Owner Occupied Commercial Real Estate - Multi-Family and Residential Rental Commercial Loan Portfolio: Beginning Balance $ 8,587,000 $ 85,000 $ 1,145,000 $ 178,000 $ 7,000 Charge-Offs 0 0 0 0 0 Payments (2,832,000 ) (3,000 ) (988,000 ) (4,000 ) (4,000 ) Transfers to ORE 0 0 0 0 0 Net Additions/Deletions 6,449,000 0 3,654,000 0 0 Ending Balance $ 12,204,000 $ 82,000 $ 3,811,000 $ 174,000 $ 3,000 Retail Retail Home Equity 1-4 Family and Other Mortgages Retail Loan Portfolio: Beginning Balance $ 1,415,000 $ 724,000 Charge-Offs 0 0 Payments (29,000 ) (9,000 ) Transfers to ORE 0 0 Net Additions/Deletions 66,000 0 Ending Balance $ 1,452,000 $ 715,000 |
Allowance Related to Loans Categorized as Troubled Debt Restructurings [Table Text Block] | March 31, December 31, 2021 2020 Commercial: Commercial and industrial $ 382,000 $ 53,000 Vacant land, land development, and residential construction 0 0 Real estate – owner occupied 308,000 59,000 Real estate – non-owner occupied 0 8,000 Real estate – multi-family and residential rental 0 0 Total commercial 690,000 120,000 Retail: Home equity and other 258,000 202,000 1-4 family mortgages 86,000 145,000 Total retail 344,000 347,000 Total related allowance $ 1,034,000 $ 467,000 |
Retail Portfolio Segment [Member] | |
Notes Tables | |
Financing Receivable Credit Quality Indicators [Table Text Block] | Retail Retail Home Equity 1-4 Family and Other Mortgages Performing 59,136,000 335,678,000 Nonperforming 175,000 2,166,000 Total retail $ 59,311,000 $ 337,844,000 Retail Retail Home Equity 1-4 Family and Other Mortgages Performing 61,378,000 335,559,000 Nonperforming 242,000 2,329,000 Total retail $ 61,620,000 $ 337,888,000 |
Note 4 - Premises and Equipme_2
Note 4 - Premises and Equipment, Net (Tables) | 3 Months Ended |
Mar. 31, 2021 | |
Notes Tables | |
Property, Plant and Equipment [Table Text Block] | March 31, December 31, 2021 2020 Land and improvements $ 14,258,000 $ 16,533,000 Buildings 52,717,000 56,114,000 Furniture and equipment 21,481,000 21,522,000 88,456,000 94,169,000 Less: accumulated depreciation 33,068,000 35,210,000 Premises and equipment, net $ 55,388,000 $ 58,959,000 |
Note 5 - Deposits (Tables)
Note 5 - Deposits (Tables) | 3 Months Ended |
Mar. 31, 2021 | |
Notes Tables | |
Summary of Deposits and Percentage Change in Deposits [Table Text Block] | Percent March 31, 2021 December 31, 2020 Increase Balance % Balance % (Decrease) Noninterest-bearing checking $ 1,605,471,000 44.0 % $ 1,433,403,000 42.0 % 12.0 % Interest-bearing checking 494,495,000 13.6 473,053,000 13.9 4.5 Money market 673,944,000 18.5 611,912,000 17.9 10.1 Savings 371,344,000 10.2 338,070,000 9.9 9.8 Time, under $100,000 151,572,000 4.2 165,548,000 4.9 (8.4 ) Time, $100,000 and over 317,223,000 8.7 342,633,000 10.0 (7.4 ) Total local deposits 3,614,049,000 99.2 3,364,619,000 98.6 7.4 Out-of-area time, $100,000 and over 30,913,000 0.8 46,934,000 1.4 (34.1 ) Total deposits $ 3,644,962,000 100.0 % $ 3,411,553,000 100.0 % 6.8 % |
Note 6 - Securities Sold Unde_2
Note 6 - Securities Sold Under Agreements to Repurchase (Tables) | 3 Months Ended |
Mar. 31, 2021 | |
Notes Tables | |
Schedule of Repurchase Agreements [Table Text Block] | Three Months Ended Twelve Months Ended March 31, 2021 December 31, 2020 Outstanding balance at end of period $ 141,310,000 $ 118,365,000 Average interest rate at end of period 0.11 % 0.12 % Average daily balance during the period $ 132,845,000 $ 132,880,000 Average interest rate during the period 0.11 % 0.12 % Maximum daily balance during the period $ 169,102,000 $ 173,186,000 |
Note 7 - Federal Home Loan Ba_2
Note 7 - Federal Home Loan Bank of Indianapolis Advances (Tables) | 3 Months Ended |
Mar. 31, 2021 | |
Notes Tables | |
Maturities of Currently Outstanding FHLB Advances [Table Text Block] | 2021 $ 20,000,000 2022 94,000,000 2023 80,000,000 2024 80,000,000 2025 50,000,000 Thereafter 70,000,000 |
Note 8 - Commitments and Off-_2
Note 8 - Commitments and Off-balance Sheet Risk (Tables) | 3 Months Ended |
Mar. 31, 2021 | |
Notes Tables | |
Summary of Contractual Amounts of Financial Instruments With Off Balance Sheet Risk [Table Text Block] | March 31, December 31, 2021 2020 Commercial unused lines of credit $ 1,052,778,000 $ 1,019,496,000 Unused lines of credit secured by 1 – 4 family residential properties 59,986,000 59,396,000 Credit card unused lines of credit 76,556,000 72,495,000 Other consumer unused lines of credit 35,207,000 30,707,000 Commitments to make loans 176,548,000 227,558,000 Standby letters of credit 25,933,000 20,543,000 $ 1,427,008,000 $ 1,430,195,000 |
Note 9 - Derivatives and Hedg_2
Note 9 - Derivatives and Hedging Activities (Tables) | 3 Months Ended |
Mar. 31, 2021 | |
Notes Tables | |
Schedule of Derivative Instruments [Table Text Block] | Notional Amount Balance Sheet Location Fair Value Derivative Assets Interest rate swaps $ 65,855,000 Other Assets $ 787,000 Derivative Liabilities Interest rate swaps 65,855,000 Other Liabilities 810,000 Notional Amount Balance Sheet Location Fair Value Derivative Assets Interest rate swaps $ 33,731,000 Other Assets $ 1,003,000 Derivative Liabilities Interest rate swaps 33,731,000 Other Liabilities 1,027,000 |
Note 10 - Fair Values of Fina_2
Note 10 - Fair Values of Financial Instruments (Tables) | 3 Months Ended |
Mar. 31, 2021 | |
Notes Tables | |
Fair Value, by Balance Sheet Grouping [Table Text Block] | Level in March 31, 2021 December 31, 2020 Fair Value Carrying Fair Carrying Fair Hierarchy Values Values Values Values Financial assets: Cash Level 1 $ 16,853 $ 16,853 $ 16,953 $ 16,953 Cash equivalents Level 2 635,491 635,491 609,053 609,053 Securities available for sale (1) 434,257 434,257 387,347 387,347 FHLBI stock (2) 18,002 18,002 18,002 18,002 Loans, net Level 3 3,325,675 3,463,032 3,155,503 3,294,522 Mortgage loans held for sale Level 2 40,297 41,318 22,888 24,029 Mortgage servicing rights Level 2 9,029 11,036 8,189 10,006 Accrued interest receivable Level 2 11,832 11,832 10,861 10,861 Financial liabilities: Deposits Level 2 3,644,962 3,648,390 3,411,553 3,397,768 Repurchase agreements Level 2 141,310 141,310 118,365 118,365 FHLBI advances Level 2 394,000 409,589 394,000 410,881 Subordinated debentures Level 2 47,733 47,733 47,563 47,574 Liabilities held for sale Level 2 17,280 18,144 0 0 Accrued interest payable Level 2 2,056 2,056 2,313 2,313 |
Note 11 - Fair Values (Tables)
Note 11 - Fair Values (Tables) | 3 Months Ended |
Mar. 31, 2021 | |
Notes Tables | |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | Quoted Prices in Active Significant Markets for Other Significant Identical Observable Unobservable Assets Inputs Inputs Total (Level 1) (Level 2) (Level 3) Available for sale securities U.S. Government agency debt obligations $ 266,828,000 $ 0 $ 266,828,000 $ 0 Mortgage-backed securities 35,808,000 0 35,808,000 0 Municipal general obligation bonds 115,537,000 0 114,771,000 766,000 Municipal revenue bonds 15,584,000 0 15,584,000 0 Other investments 500,000 0 500,000 0 Total $ 434,257,000 $ 0 $ 433,491,000 $ 766,000 Quoted Prices in Active Significant Markets for Other Significant Identical Observable Unobservable Assets Inputs Inputs Total (Level 1) (Level 2) (Level 3) Available for sale securities U.S. Government agency debt obligations $ 242,141,000 $ 0 $ 242,141,000 $ 0 Mortgage-backed securities 24,890,000 0 24,890,000 0 Municipal general obligation bonds 107,824,000 0 107,058,000 766,000 Municipal revenue bonds 11,992,000 0 11,992,000 0 Other investments 500,000 0 500,000 0 Total $ 387,347,000 $ 0 $ 386,581,000 $ 766,000 |
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis, Valuation Techniques [Table Text Block] | Quoted Prices in Active Significant Markets for Other Significant Identical Observable Unobservable Assets Inputs Inputs Total (Level 1) (Level 2) (Level 3) Impaired loans $ 2,425,000 $ 0 $ 0 $ 2,425,000 Foreclosed assets 374,000 0 0 374,000 Total $ 2,799,000 $ 0 $ 0 $ 2,799,000 Quoted Prices in Active Significant Markets for Other Significant Identical Observable Unobservable Assets Inputs Inputs Total (Level 1) (Level 2) (Level 3) Impaired loans $ 2,880,000 $ 0 $ 0 $ 2,880,000 Foreclosed assets 701,000 0 0 701,000 Total $ 3,581,000 $ 0 $ 0 $ 3,581,000 |
Note 12 - Regulatory Matters (T
Note 12 - Regulatory Matters (Tables) | 3 Months Ended |
Mar. 31, 2021 | |
Notes Tables | |
Schedule of Compliance with Regulatory Capital Requirements under Banking Regulations [Table Text Block] | Minimum Required to be Well Minimum Required Capitalized Under for Capital Prompt Corrective Actual Adequacy Purposes Action Regulations Amount Ratio Amount Ratio Amount Ratio March 31, 2021 Total capital (to risk weighted assets) Consolidated $ 476,462 13.5 % $ 282,093 8.0 % NA NA Bank 467,325 13.3 281,968 8.0 352,460 10.0 % Tier 1 capital (to risk weighted assets) Consolidated 437,567 12.4 211,570 6.0 NA NA Bank 428,430 12.2 211,476 6.0 281,968 8.0 Common equity tier 1 (to risk weighted assets) Consolidated 391,908 11.1 158,678 4.5 NA NA Bank 428,430 12.2 158,607 4.5 229,099 6.5 Tier 1 capital (to average assets) Consolidated 437,567 9.7 180,944 4.0 NA NA Bank 428,430 9.5 180,882 4.0 226,102 5.0 December 31, 2020 Total capital (to risk weighted assets) Consolidated $ 468,113 13.8 % $ 271,325 8.0 % NA NA Bank 457,203 13.5 271,196 8.0 338,995 10.0 % Tier 1 capital (to risk weighted assets) Consolidated 430,146 12.7 203,494 6.0 NA NA Bank 419,236 12.4 203,397 6.0 271,196 8.0 Common equity tier 1 (to risk weighted assets) Consolidated 384,658 11.3 152,621 4.5 NA NA Bank 419,236 12.4 152,548 4.5 220,347 6.5 Tier 1 capital (to average assets) Consolidated 430,146 9.8 176,053 4.0 NA NA Bank 419,236 9.5 175,999 4.0 219,999 5.0 |
Note 1 - Significant Accounti_2
Note 1 - Significant Accounting Policies (Details Textual) | May 14, 2021USD ($) | Oct. 21, 2020 | Apr. 30, 2020 | Mar. 31, 2021USD ($)shares | Mar. 31, 2020shares | Dec. 31, 2020USD ($) | Aug. 08, 2020USD ($) | Jul. 15, 2020USD ($) | Jun. 30, 2020USD ($) |
Number of Unconsolidated Business Trusts Formed to Issue Trust Preferred Securities | 5 | ||||||||
Interest Income on Commercial and Mortgage Loans Discontinued Period (Day) | 90 days | ||||||||
Maximum Delinquency Period for Consumer and Credit Card Loans to be Charged Off (Day) | 120 days | ||||||||
Mortgages Held-for-sale, Fair Value Disclosure | $ 41,300,000 | $ 24,000,000 | |||||||
Servicing Asset, Total | 1,110,000,000 | 1,040,000,000 | |||||||
Disposal Group, Including Discontinued Operation, Liabilities, Total | 17,280,000 | $ 0 | |||||||
Hastings, Michigan Branch Office [Member] | Disposal Group, Held-for-sale, Not Discontinued Operations [Member] | |||||||||
Disposal Group, Including Discontinued Operation, Deposit Accounts, Premium of Book Balance | 5.00% | ||||||||
Disposal Group, Including Discontinued Operation, Accounts, Notes and Loans Receivable, Net | 9,700,000 | ||||||||
Disposal Group, Including Discontinued Operation, Property, Plant and Equipment | 1,200,000 | ||||||||
Disposal Group, Including Discontinued Operation, Liabilities, Total | $ 17,300,000 | ||||||||
Hastings, Michigan Branch Office [Member] | Disposal Group, Held-for-sale, Not Discontinued Operations [Member] | Forecast [Member] | |||||||||
Proceeds from Sale of Property Held-for-sale | $ 1,500,000 | ||||||||
Disposal Group, Including Discontinued Operation, Deposit Premium | 900,000 | ||||||||
Hastings, Michigan Branch Office [Member] | Disposal Group, Held-for-sale, Not Discontinued Operations [Member] | Forecast [Member] | Branch Facility [Member] | |||||||||
Disposal Group, Not Discontinued Operation, Gain (Loss) on Disposal | $ 300,000 | ||||||||
Core Deposits [Member] | |||||||||
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life (Year) | 10 years | ||||||||
Restricted Stock [Member] | |||||||||
Incremental Common Shares Attributable to Participating Nonvested Shares with Non-forfeitable Dividend Rights (in shares) | shares | 262,000 | 256,000 | |||||||
Share-based Payment Arrangement, Option [Member] | |||||||||
Incremental Common Shares Attributable to Participating Nonvested Shares with Non-forfeitable Dividend Rights (in shares) | shares | 3,000 | 4,000 | |||||||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares) | shares | 7,000 | 7,000 | |||||||
Commercial Portfolio Segment [Member] | |||||||||
Financing Receivable, Payment Deferrals, Interest-only Amendments, Period (Day) | 90 days | ||||||||
Financing Receivable, Payment Deferrals, Principal and Interest, Period (Day) | 90 days | ||||||||
Financing Receivable, Payment Deferrals, Interest Rate | 0.00% | ||||||||
Financing Receivable, Number of Principal and Interest Payment Deferrals | 2 | 750 | |||||||
Financing Receivable, Principal and Interest Deferred Payments | $ 1,800,000 | $ 719,000,000 | |||||||
Retail Portfolio Segment [Member] | |||||||||
Financing Receivable, Payment Deferrals, Principal and Interest, Period (Day) | 90 days | ||||||||
Financing Receivable, Number of Principal and Interest Payment Deferrals | 10 | 260 | |||||||
Financing Receivable, Principal and Interest Deferred Payments | $ 800,000 | $ 23,800,000 | |||||||
SBA, CARES Act, Paycheck Protection Program [Member] | |||||||||
Number of Loans Originated Under the Paycheck Protection Program | 2,200 | ||||||||
Financing Receivable, before Allowance for Credit Loss, Total | $ 553,000,000 | ||||||||
Financing Receivable, Forgiveness Transactions, Number of Loans | 1,600 | ||||||||
Financing Receivable, Forgiveness Transactions | $ 302,000,000 | ||||||||
Amortization of Deferred Loan Origination Fees, Net | $ 2,400,000 | ||||||||
SBA, CARES Act, Paycheck Protection Program, Round Two [Member] | |||||||||
Number of Loans Originated Under the Paycheck Protection Program | 1,100 | ||||||||
Financing Receivable, before Allowance for Credit Loss, Total | $ 203,000,000 | ||||||||
Amortization of Deferred Loan Origination Fees, Net | $ 400,000 |
Note 2 - Securities (Details Te
Note 2 - Securities (Details Textual) | Mar. 31, 2021USD ($) | Dec. 31, 2020USD ($) |
Debt Securities, Available-for-sale, Unrealized Loss Position, Number of Positions | 185 | 64 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Total | $ 262,853,000 | $ 119,073,000 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss, Total | 8,331,000 | 899,000 |
Other than Temporary Impairment, Credit Losses Recognized in Earnings, Credit Losses on Debt Securities Held, Ending Balance | 0 | |
Debt Securities, Available-for-sale, Amortized Cost, Total | 436,481,000 | 380,403,000 |
Debt Securities, Available-for-sale, Total | 434,257,000 | 387,347,000 |
State of Michigan and All Its Political Subdivisions [Member] | ||
Debt Securities, Available-for-sale, Amortized Cost, Total | 123,000,000 | 109,000,000 |
Debt Securities, Available-for-sale, Total | 128,000,000 | 116,000,000 |
All Other States and Their Political Subdivisions [Member] | ||
Debt Securities, Available-for-sale, Amortized Cost, Total | 3,500,000 | 4,100,000 |
Debt Securities, Available-for-sale, Total | 3,600,000 | 4,200,000 |
US Government Agency Debt Obligations and Mortgage Backed Securities [Member] | ||
Debt Securities, Available-for-sale, Restricted | $ 141,000,000 | $ 118,000,000 |
Note 2 - Securities - Available
Note 2 - Securities - Available-for-sale Securities (Details) - USD ($) | Mar. 31, 2021 | Dec. 31, 2020 |
Securities available for sale, amortized cost | $ 436,481,000 | $ 380,403,000 |
Securities available for sale, gross unrealized gains | 6,107,000 | 7,843,000 |
Securities available for sale, gross unrealized losses | (8,331,000) | (899,000) |
Securities available for sale, fair value | 434,257,000 | 387,347,000 |
US Government Agencies Debt Securities [Member] | ||
Securities available for sale, amortized cost | 274,038,000 | 242,522,000 |
Securities available for sale, gross unrealized gains | 362,000 | 516,000 |
Securities available for sale, gross unrealized losses | (7,572,000) | (897,000) |
Securities available for sale, fair value | 266,828,000 | 242,141,000 |
Collateralized Mortgage Backed Securities [Member] | ||
Securities available for sale, amortized cost | 35,211,000 | 23,869,000 |
Securities available for sale, gross unrealized gains | 925,000 | 1,021,000 |
Securities available for sale, gross unrealized losses | (328,000) | 0 |
Securities available for sale, fair value | 35,808,000 | 24,890,000 |
Municipal General Obligation Bonds [Member] | ||
Securities available for sale, amortized cost | 111,294,000 | 101,991,000 |
Securities available for sale, gross unrealized gains | 4,517,000 | 5,833,000 |
Securities available for sale, gross unrealized losses | (274,000) | 0 |
Securities available for sale, fair value | 115,537,000 | 107,824,000 |
Municipal Revenue Bonds [Member] | ||
Securities available for sale, amortized cost | 15,438,000 | 11,521,000 |
Securities available for sale, gross unrealized gains | 303,000 | 473,000 |
Securities available for sale, gross unrealized losses | (157,000) | (2,000) |
Securities available for sale, fair value | 15,584,000 | 11,992,000 |
Other Debt and Equity Securities [Member] | ||
Securities available for sale, amortized cost | 500,000 | 500,000 |
Securities available for sale, gross unrealized gains | 0 | 0 |
Securities available for sale, gross unrealized losses | 0 | 0 |
Securities available for sale, fair value | $ 500,000 | $ 500,000 |
Note 2 - Securities - Securitie
Note 2 - Securities - Securities in a Continuous Loss Position (Details) - USD ($) | Mar. 31, 2021 | Dec. 31, 2020 |
Securities available for sale, continuous unrealized loss position, less than 12 months | $ 262,853,000 | $ 119,073,000 |
Securities available for sale, continuous unrealized loss position, less than 12 months, unrealized loss | 8,331,000 | 899,000 |
Securities available for sale, continuous unrealized loss position, 12 months or more | 0 | 0 |
Securities available for sale, continuous unrealized loss position, 12 months or more, unrealized loss | 0 | 0 |
Securities available for sale, continuous unrealized loss position | 262,853,000 | 119,073,000 |
Securities available for sale, continuous unrealized loss position, unrealized loss | 8,331,000 | 899,000 |
US Government Agencies Debt Securities [Member] | ||
Securities available for sale, continuous unrealized loss position, less than 12 months | 234,832,000 | 118,650,000 |
Securities available for sale, continuous unrealized loss position, less than 12 months, unrealized loss | 7,572,000 | 897,000 |
Securities available for sale, continuous unrealized loss position, 12 months or more | 0 | 0 |
Securities available for sale, continuous unrealized loss position, 12 months or more, unrealized loss | 0 | 0 |
Securities available for sale, continuous unrealized loss position | 234,832,000 | 118,650,000 |
Securities available for sale, continuous unrealized loss position, unrealized loss | 7,572,000 | 897,000 |
Collateralized Mortgage Backed Securities [Member] | ||
Securities available for sale, continuous unrealized loss position, less than 12 months | 7,264,000 | 0 |
Securities available for sale, continuous unrealized loss position, less than 12 months, unrealized loss | 328,000 | 0 |
Securities available for sale, continuous unrealized loss position, 12 months or more | 0 | 0 |
Securities available for sale, continuous unrealized loss position, 12 months or more, unrealized loss | 0 | 0 |
Securities available for sale, continuous unrealized loss position | 7,264,000 | 0 |
Securities available for sale, continuous unrealized loss position, unrealized loss | 328,000 | 0 |
Municipal General Obligation Bonds [Member] | ||
Securities available for sale, continuous unrealized loss position, less than 12 months | 13,961,000 | 0 |
Securities available for sale, continuous unrealized loss position, less than 12 months, unrealized loss | 274,000 | 0 |
Securities available for sale, continuous unrealized loss position, 12 months or more | 0 | 0 |
Securities available for sale, continuous unrealized loss position, 12 months or more, unrealized loss | 0 | 0 |
Securities available for sale, continuous unrealized loss position | 13,961,000 | 0 |
Securities available for sale, continuous unrealized loss position, unrealized loss | 274,000 | 0 |
Municipal Revenue Bonds [Member] | ||
Securities available for sale, continuous unrealized loss position, less than 12 months | 6,796,000 | 423,000 |
Securities available for sale, continuous unrealized loss position, less than 12 months, unrealized loss | 157,000 | 2,000 |
Securities available for sale, continuous unrealized loss position, 12 months or more | 0 | 0 |
Securities available for sale, continuous unrealized loss position, 12 months or more, unrealized loss | 0 | 0 |
Securities available for sale, continuous unrealized loss position | 6,796,000 | 423,000 |
Securities available for sale, continuous unrealized loss position, unrealized loss | $ 157,000 | $ 2,000 |
Note 2 - Securities - Debt Secu
Note 2 - Securities - Debt Securities by Maturity (Details) - USD ($) | Mar. 31, 2021 | Dec. 31, 2020 |
Due in 2021, Weighted Average Yield | 2.53% | |
Due in 2021, Amortized Cost | $ 5,414,000 | |
Due in 2021, Fair Value | $ 5,425,000 | |
Due in 2022 through 2026, Weighted Average Yield | 1.16% | |
Due in 2022 through 2026, Amortized Cost | $ 142,876,000 | |
Due in 2022 through 2026, Fair Value | $ 143,569,000 | |
Due in 2027 through 2031, Weighted Average Yield | 1.63% | |
Due in 2027 through 2031, Amortized Cost | $ 197,842,000 | |
Due in 2027 through 2031, Fair Value | $ 195,378,000 | |
Due in 2032 and beyond, Weighted Average Yield | 2.02% | |
Due in 2032 and beyond, Amortized Cost | $ 54,638,000 | |
Due in 2032 and beyond, Fair Value | $ 53,577,000 | |
Total available for sale securities, Weighted Average Yield | 1.55% | |
Total available for sale securities, Amortized Cost | $ 436,481,000 | $ 380,403,000 |
Debt Securities, Available-for-sale, Total | $ 434,257,000 | 387,347,000 |
Collateralized Mortgage Backed Securities [Member] | ||
No single maturity, weighted average yield | 1.83% | |
No single maturity, amortized cost | $ 35,211,000 | |
No single maturity, fair value | 35,808,000 | |
Total available for sale securities, Amortized Cost | 35,211,000 | 23,869,000 |
Debt Securities, Available-for-sale, Total | $ 35,808,000 | 24,890,000 |
Other Debt and Equity Securities [Member] | ||
No single maturity, weighted average yield | 3.75% | |
No single maturity, amortized cost | $ 500,000 | |
No single maturity, fair value | 500,000 | |
Total available for sale securities, Amortized Cost | 500,000 | 500,000 |
Debt Securities, Available-for-sale, Total | $ 500,000 | $ 500,000 |
Note 3 - Loans and Allowance _3
Note 3 - Loans and Allowance for Loan Losses (Details Textual) - USD ($) | 3 Months Ended | |||||
Mar. 31, 2021 | Mar. 31, 2020 | Dec. 31, 2020 | ||||
Loans and Leases Receivable, Net of Deferred Income, Total | $ 3,364,370,000 | $ 3,193,470,000 | ||||
Loans and Leases Receivable Period Increase (Decrease) | $ 171,000,000 | |||||
Loans and Leases Receivable, Percentage Period Increase (Decrease) | 5.40% | |||||
Impaired Financing Receivable, Interest Income, Accrual Method, Total | $ 400,000 | $ 300,000 | ||||
Loans and Leases Receivable, Nonaccrual Loans, Interest Income Recognized | 0 | 0 | ||||
Loans and Leases Receivable, Impaired, Interest Lost on Nonaccrual Loans | $ 100,000 | $ 100,000 | ||||
Minimum Number of Days Past Due at Period End For Loans Modified as Troubled Debt Restructurings (Day) | 30 days | |||||
Commercial Portfolio Segment [Member] | ||||||
Loans and Leases Receivable, Net of Deferred Income, Total | $ 2,967,215,000 | 2,793,962,000 | ||||
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | ||||||
Loans and Leases Receivable, Net of Deferred Income, Total | [1] | 1,284,507,000 | 1,145,423,000 | |||
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | Grades 1-4 [Member] | ||||||
Loans and Leases Receivable, Net of Deferred Income, Total | 944,884,000 | [2] | 828,706,000 | [3] | ||
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | SBA, CARES Act, Paycheck Protection Program [Member] | ||||||
Loans and Leases Receivable, Net of Deferred Income, Total | 455,000,000 | 365,000,000 | ||||
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | SBA, CARES Act, Paycheck Protection Program [Member] | Grades 1-4 [Member] | ||||||
Loans and Leases Receivable, Net of Deferred Income, Total | $ 455,000,000 | $ 365,000,000 | ||||
[1] | Includes $455 million and $365 million in loans originated under the Paycheck Protection Program for March 31, 2021 and December 31, 2020, respectively. | |||||
[2] | Included in Commercial and Industrial Loans Grades 1 – 4 are $455 million of loans originated under the Paycheck Protection Program. | |||||
[3] | Included in Commercial and Industrial Loans Grades 1 – 4 are $365 million of loans originated under the Paycheck Protection Program. |
Note 3 - Loans and Allowance _4
Note 3 - Loans and Allowance for Loan Losses - Components of Loan Portfolio (Details) - USD ($) | 3 Months Ended | ||
Mar. 31, 2021 | Dec. 31, 2020 | ||
Loans | $ 3,364,370,000 | $ 3,193,470,000 | |
Percent of portfolio | 100.00% | 100.00% | |
Period increase (decrease) | 5.40% | ||
Commercial Portfolio Segment [Member] | |||
Loans | $ 2,967,215,000 | $ 2,793,962,000 | |
Percent of portfolio | 88.20% | 87.50% | |
Period increase (decrease) | 6.20% | ||
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | |||
Loans | [1] | $ 1,284,507,000 | $ 1,145,423,000 |
Percent of portfolio | [1] | 38.20% | 35.90% |
Period increase (decrease) | [1] | 12.10% | |
Commercial Portfolio Segment [Member] | Vacant Land and Land Development and Residential Construction Loan [Member] | |||
Loans | $ 58,738,000 | $ 55,055,000 | |
Percent of portfolio | 1.70% | 1.70% | |
Period increase (decrease) | 6.70% | ||
Commercial Portfolio Segment [Member] | Real Estate Owner Occupied Loan [Member] | |||
Loans | $ 544,342,000 | $ 529,953,000 | |
Percent of portfolio | 16.20% | 16.60% | |
Period increase (decrease) | 2.70% | ||
Commercial Portfolio Segment [Member] | Real Estate Non Owner Occupied Loan [Member] | |||
Loans | $ 932,334,000 | $ 917,436,000 | |
Percent of portfolio | 27.70% | 28.70% | |
Period increase (decrease) | 0.60% | ||
Commercial Portfolio Segment [Member] | Real Estate Multi Family and Residential Rental Loan [Member] | |||
Loans | $ 147,294,000 | $ 146,095,000 | |
Percent of portfolio | 4.40% | 4.60% | |
Period increase (decrease) | 0.80% | ||
Retail Portfolio Segment [Member] | |||
Loans | $ 397,155,000 | $ 399,508,000 | |
Percent of portfolio | 11.80% | 12.50% | |
Period increase (decrease) | (0.60%) | ||
Retail Portfolio Segment [Member] | Home Equity and Other [Member] | |||
Loans | $ 59,311,000 | $ 61,620,000 | |
Percent of portfolio | 1.80% | 1.90% | |
Period increase (decrease) | (3.70%) | ||
Retail Portfolio Segment [Member] | One to Four Family Mortgages [Member] | |||
Loans | $ 337,844,000 | $ 337,888,000 | |
Percent of portfolio | 10.00% | 10.60% | |
Period increase (decrease) | (0.10%) | ||
[1] | Includes $455 million and $365 million in loans originated under the Paycheck Protection Program for March 31, 2021 and December 31, 2020, respectively. |
Note 3 - Loans and Allowance _5
Note 3 - Loans and Allowance for Loan Losses - Nonperforming Loans (Details) - USD ($) | Mar. 31, 2021 | Dec. 31, 2020 |
Loans past due 90 days or more still accruing interest | $ 0 | $ 0 |
Commercial Portfolio Segment [Member] | ||
Loans past due 90 days or more still accruing interest | 0 | 0 |
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | ||
Loans past due 90 days or more still accruing interest | 0 | 0 |
Commercial Portfolio Segment [Member] | Vacant Land and Land Development and Residential Construction Loan [Member] | ||
Loans past due 90 days or more still accruing interest | 0 | 0 |
Commercial Portfolio Segment [Member] | Real Estate Owner Occupied Loan [Member] | ||
Loans past due 90 days or more still accruing interest | 0 | 0 |
Commercial Portfolio Segment [Member] | Real Estate Non Owner Occupied Loan [Member] | ||
Loans past due 90 days or more still accruing interest | 0 | 0 |
Commercial Portfolio Segment [Member] | Real Estate Multi Family and Residential Rental Loan [Member] | ||
Loans past due 90 days or more still accruing interest | 0 | 0 |
Retail Portfolio Segment [Member] | ||
Loans past due 90 days or more still accruing interest | 0 | 0 |
Retail Portfolio Segment [Member] | Home Equity and Other [Member] | ||
Loans past due 90 days or more still accruing interest | 0 | 0 |
Retail Portfolio Segment [Member] | One to Four Family Mortgages [Member] | ||
Loans past due 90 days or more still accruing interest | 0 | 0 |
Nonperforming Financial Instruments [Member] | ||
Loans past due 90 days or more still accruing interest | 0 | 0 |
Nonaccrual loans | 2,793,000 | 3,384,000 |
Total nonperforming loans | 2,793,000 | 3,384,000 |
Nonperforming Financial Instruments [Member] | Commercial Portfolio Segment [Member] | ||
Total nonperforming loans | 452,000 | 813,000 |
Nonperforming Financial Instruments [Member] | Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | ||
Total nonperforming loans | 169,000 | 172,000 |
Nonperforming Financial Instruments [Member] | Commercial Portfolio Segment [Member] | Vacant Land and Land Development and Residential Construction Loan [Member] | ||
Total nonperforming loans | 0 | 0 |
Nonperforming Financial Instruments [Member] | Commercial Portfolio Segment [Member] | Real Estate Owner Occupied Loan [Member] | ||
Total nonperforming loans | 283,000 | 619,000 |
Nonperforming Financial Instruments [Member] | Commercial Portfolio Segment [Member] | Real Estate Non Owner Occupied Loan [Member] | ||
Total nonperforming loans | 0 | 22,000 |
Nonperforming Financial Instruments [Member] | Commercial Portfolio Segment [Member] | Real Estate Multi Family and Residential Rental Loan [Member] | ||
Total nonperforming loans | 0 | 0 |
Nonperforming Financial Instruments [Member] | Retail Portfolio Segment [Member] | ||
Total nonperforming loans | 2,341,000 | 2,571,000 |
Nonperforming Financial Instruments [Member] | Retail Portfolio Segment [Member] | Home Equity and Other [Member] | ||
Total nonperforming loans | 175,000 | 242,000 |
Nonperforming Financial Instruments [Member] | Retail Portfolio Segment [Member] | One to Four Family Mortgages [Member] | ||
Total nonperforming loans | $ 2,166,000 | $ 2,329,000 |
Note 3 - Loans and Allowance _6
Note 3 - Loans and Allowance for Loan Losses - Age Analysis of Past Due Loans (Details) - USD ($) | Mar. 31, 2021 | Dec. 31, 2020 | |
Past due loans | $ 2,118,000 | $ 3,041,000 | |
Current loans | 3,362,252,000 | 3,190,429,000 | |
Loans | 3,364,370,000 | 3,193,470,000 | |
Loans past due 90 days or more still accruing interest | 0 | 0 | |
Commercial Portfolio Segment [Member] | |||
Past due loans | 1,182,000 | 1,074,000 | |
Current loans | 2,966,033,000 | 2,792,888,000 | |
Loans | 2,967,215,000 | 2,793,962,000 | |
Loans past due 90 days or more still accruing interest | 0 | 0 | |
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | |||
Past due loans | 762,000 | 433,000 | |
Current loans | 1,283,745,000 | 1,144,990,000 | |
Loans | [1] | 1,284,507,000 | 1,145,423,000 |
Loans past due 90 days or more still accruing interest | 0 | 0 | |
Commercial Portfolio Segment [Member] | Vacant Land and Land Development and Residential Construction Loan [Member] | |||
Past due loans | 0 | 0 | |
Current loans | 58,738,000 | 55,055,000 | |
Loans | 58,738,000 | 55,055,000 | |
Loans past due 90 days or more still accruing interest | 0 | 0 | |
Commercial Portfolio Segment [Member] | Real Estate Owner Occupied Loan [Member] | |||
Past due loans | 420,000 | 618,000 | |
Current loans | 543,922,000 | 529,335,000 | |
Loans | 544,342,000 | 529,953,000 | |
Loans past due 90 days or more still accruing interest | 0 | 0 | |
Commercial Portfolio Segment [Member] | Real Estate Non Owner Occupied Loan [Member] | |||
Past due loans | 0 | 23,000 | |
Current loans | 932,334,000 | 917,413,000 | |
Loans | 932,334,000 | 917,436,000 | |
Loans past due 90 days or more still accruing interest | 0 | 0 | |
Commercial Portfolio Segment [Member] | Real Estate Multi Family and Residential Rental Loan [Member] | |||
Past due loans | 0 | 0 | |
Current loans | 147,294,000 | 146,095,000 | |
Loans | 147,294,000 | 146,095,000 | |
Loans past due 90 days or more still accruing interest | 0 | 0 | |
Retail Portfolio Segment [Member] | |||
Past due loans | 936,000 | 1,967,000 | |
Current loans | 396,219,000 | 397,541,000 | |
Loans | 397,155,000 | 399,508,000 | |
Loans past due 90 days or more still accruing interest | 0 | 0 | |
Retail Portfolio Segment [Member] | Home Equity and Other [Member] | |||
Past due loans | 157,000 | 231,000 | |
Current loans | 59,154,000 | 61,389,000 | |
Loans | 59,311,000 | 61,620,000 | |
Loans past due 90 days or more still accruing interest | 0 | 0 | |
Retail Portfolio Segment [Member] | One to Four Family Mortgages [Member] | |||
Past due loans | 779,000 | 1,736,000 | |
Current loans | 337,065,000 | 336,152,000 | |
Loans | 337,844,000 | 337,888,000 | |
Loans past due 90 days or more still accruing interest | 0 | 0 | |
Financial Asset, 30 to 59 Days Past Due [Member] | |||
Past due loans | 1,270,000 | 1,520,000 | |
Financial Asset, 30 to 59 Days Past Due [Member] | Commercial Portfolio Segment [Member] | |||
Past due loans | 593,000 | 261,000 | |
Financial Asset, 30 to 59 Days Past Due [Member] | Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | |||
Past due loans | 593,000 | 261,000 | |
Financial Asset, 30 to 59 Days Past Due [Member] | Commercial Portfolio Segment [Member] | Vacant Land and Land Development and Residential Construction Loan [Member] | |||
Past due loans | 0 | 0 | |
Financial Asset, 30 to 59 Days Past Due [Member] | Commercial Portfolio Segment [Member] | Real Estate Owner Occupied Loan [Member] | |||
Past due loans | 0 | 0 | |
Financial Asset, 30 to 59 Days Past Due [Member] | Commercial Portfolio Segment [Member] | Real Estate Non Owner Occupied Loan [Member] | |||
Past due loans | 0 | 0 | |
Financial Asset, 30 to 59 Days Past Due [Member] | Commercial Portfolio Segment [Member] | Real Estate Multi Family and Residential Rental Loan [Member] | |||
Past due loans | 0 | 0 | |
Financial Asset, 30 to 59 Days Past Due [Member] | Retail Portfolio Segment [Member] | |||
Past due loans | 677,000 | 1,259,000 | |
Financial Asset, 30 to 59 Days Past Due [Member] | Retail Portfolio Segment [Member] | Home Equity and Other [Member] | |||
Past due loans | 112,000 | 112,000 | |
Financial Asset, 30 to 59 Days Past Due [Member] | Retail Portfolio Segment [Member] | One to Four Family Mortgages [Member] | |||
Past due loans | 565,000 | 1,147,000 | |
Financial Asset, 60 to 89 Days Past Due [Member] | |||
Past due loans | 138,000 | 681,000 | |
Financial Asset, 60 to 89 Days Past Due [Member] | Commercial Portfolio Segment [Member] | |||
Past due loans | 137,000 | 369,000 | |
Financial Asset, 60 to 89 Days Past Due [Member] | Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | |||
Past due loans | 0 | 172,000 | |
Financial Asset, 60 to 89 Days Past Due [Member] | Commercial Portfolio Segment [Member] | Vacant Land and Land Development and Residential Construction Loan [Member] | |||
Past due loans | 0 | 0 | |
Financial Asset, 60 to 89 Days Past Due [Member] | Commercial Portfolio Segment [Member] | Real Estate Owner Occupied Loan [Member] | |||
Past due loans | 137,000 | 197,000 | |
Financial Asset, 60 to 89 Days Past Due [Member] | Commercial Portfolio Segment [Member] | Real Estate Non Owner Occupied Loan [Member] | |||
Past due loans | 0 | 0 | |
Financial Asset, 60 to 89 Days Past Due [Member] | Commercial Portfolio Segment [Member] | Real Estate Multi Family and Residential Rental Loan [Member] | |||
Past due loans | 0 | 0 | |
Financial Asset, 60 to 89 Days Past Due [Member] | Retail Portfolio Segment [Member] | |||
Past due loans | 1,000 | 312,000 | |
Financial Asset, 60 to 89 Days Past Due [Member] | Retail Portfolio Segment [Member] | Home Equity and Other [Member] | |||
Past due loans | 0 | 65,000 | |
Financial Asset, 60 to 89 Days Past Due [Member] | Retail Portfolio Segment [Member] | One to Four Family Mortgages [Member] | |||
Past due loans | 1,000 | 247,000 | |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | |||
Past due loans | 710,000 | 840,000 | |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Commercial Portfolio Segment [Member] | |||
Past due loans | 452,000 | 444,000 | |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | |||
Past due loans | 169,000 | 0 | |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Commercial Portfolio Segment [Member] | Vacant Land and Land Development and Residential Construction Loan [Member] | |||
Past due loans | 0 | 0 | |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Commercial Portfolio Segment [Member] | Real Estate Owner Occupied Loan [Member] | |||
Past due loans | 283,000 | 421,000 | |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Commercial Portfolio Segment [Member] | Real Estate Non Owner Occupied Loan [Member] | |||
Past due loans | 0 | 23,000 | |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Commercial Portfolio Segment [Member] | Real Estate Multi Family and Residential Rental Loan [Member] | |||
Past due loans | 0 | 0 | |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Retail Portfolio Segment [Member] | |||
Past due loans | 258,000 | 396,000 | |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Retail Portfolio Segment [Member] | Home Equity and Other [Member] | |||
Past due loans | 45,000 | 54,000 | |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Retail Portfolio Segment [Member] | One to Four Family Mortgages [Member] | |||
Past due loans | $ 213,000 | $ 342,000 | |
[1] | Includes $455 million and $365 million in loans originated under the Paycheck Protection Program for March 31, 2021 and December 31, 2020, respectively. |
Note 3 - Loans and Allowance _7
Note 3 - Loans and Allowance for Loan Losses - Impaired Loans (Details) - USD ($) | 3 Months Ended | ||
Mar. 31, 2021 | Mar. 31, 2020 | Dec. 31, 2020 | |
With no related allowance recorded, unpaid principal balance | $ 22,896,000 | $ 26,892,000 | |
With no related allowance recorded, principal balance | 20,915,000 | 24,738,000 | |
With no related allowance recorded, average recorded principal balance | 22,826,000 | $ 15,714,000 | |
With related allowance recorded, unpaid principal balance | 1,939,000 | 2,266,000 | |
With related allowance recorded, principal balance | 1,922,000 | 2,220,000 | |
Related allowance | 487,000 | 551,000 | |
With related allowance recorded, average recorded principal balance | 2,069,000 | 3,072,000 | |
Total unpaid principal balance | 24,835,000 | 29,158,000 | |
Total principal balance | 22,837,000 | 26,958,000 | |
Total average recorded principal balance | 24,895,000 | 18,786,000 | |
Commercial Portfolio Segment [Member] | |||
With no related allowance recorded, unpaid principal balance | 17,487,000 | 21,365,000 | |
With no related allowance recorded, principal balance | 17,450,000 | 21,176,000 | |
With no related allowance recorded, average recorded principal balance | 19,313,000 | 12,148,000 | |
With related allowance recorded, unpaid principal balance | 1,036,000 | 1,268,000 | |
With related allowance recorded, principal balance | 1,036,000 | 1,239,000 | |
Related allowance | 116,000 | 138,000 | |
With related allowance recorded, average recorded principal balance | 1,137,000 | 2,147,000 | |
Total unpaid principal balance | 18,523,000 | 22,633,000 | |
Total principal balance | 18,486,000 | 22,415,000 | |
Total average recorded principal balance | 20,450,000 | 14,295,000 | |
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | |||
With no related allowance recorded, unpaid principal balance | 3,587,000 | 6,242,000 | |
With no related allowance recorded, principal balance | 3,584,000 | 6,242,000 | |
With no related allowance recorded, average recorded principal balance | 4,913,000 | 9,148,000 | |
With related allowance recorded, unpaid principal balance | 348,000 | 343,000 | |
With related allowance recorded, principal balance | 348,000 | 343,000 | |
Related allowance | 62,000 | 53,000 | |
With related allowance recorded, average recorded principal balance | 345,000 | 1,315,000 | |
Commercial Portfolio Segment [Member] | Vacant Land and Land Development and Residential Construction Loan [Member] | |||
With no related allowance recorded, unpaid principal balance | 0 | 0 | |
With no related allowance recorded, principal balance | 0 | 0 | |
With no related allowance recorded, average recorded principal balance | 0 | 142,000 | |
With related allowance recorded, unpaid principal balance | 0 | 0 | |
With related allowance recorded, principal balance | 0 | 0 | |
Related allowance | 0 | 0 | |
With related allowance recorded, average recorded principal balance | 0 | 192,000 | |
Commercial Portfolio Segment [Member] | Real Estate Owner Occupied Loan [Member] | |||
With no related allowance recorded, unpaid principal balance | 13,588,000 | 14,782,000 | |
With no related allowance recorded, principal balance | 13,554,000 | 14,593,000 | |
With no related allowance recorded, average recorded principal balance | 14,074,000 | 2,762,000 | |
With related allowance recorded, unpaid principal balance | 530,000 | 763,000 | |
With related allowance recorded, principal balance | 530,000 | 734,000 | |
Related allowance | 47,000 | 77,000 | |
With related allowance recorded, average recorded principal balance | 632,000 | 640,000 | |
Commercial Portfolio Segment [Member] | Real Estate Non Owner Occupied Loan [Member] | |||
With no related allowance recorded, unpaid principal balance | 312,000 | 341,000 | |
With no related allowance recorded, principal balance | 312,000 | 341,000 | |
With no related allowance recorded, average recorded principal balance | 326,000 | 89,000 | |
With related allowance recorded, unpaid principal balance | 158,000 | 162,000 | |
With related allowance recorded, principal balance | 158,000 | 162,000 | |
Related allowance | 7,000 | 8,000 | |
With related allowance recorded, average recorded principal balance | 160,000 | 0 | |
Commercial Portfolio Segment [Member] | Real Estate Multi Family and Residential Rental Loan [Member] | |||
With no related allowance recorded, unpaid principal balance | 0 | 0 | |
With no related allowance recorded, principal balance | 0 | 0 | |
With no related allowance recorded, average recorded principal balance | 0 | 7,000 | |
With related allowance recorded, unpaid principal balance | 0 | 0 | |
With related allowance recorded, principal balance | 0 | 0 | |
Related allowance | 0 | 0 | |
With related allowance recorded, average recorded principal balance | 0 | 0 | |
Retail Portfolio Segment [Member] | |||
With no related allowance recorded, unpaid principal balance | 5,409,000 | 5,527,000 | |
With no related allowance recorded, principal balance | 3,465,000 | 3,562,000 | |
With no related allowance recorded, average recorded principal balance | 3,513,000 | 3,566,000 | |
With related allowance recorded, unpaid principal balance | 903,000 | 998,000 | |
With related allowance recorded, principal balance | 886,000 | 981,000 | |
Related allowance | 371,000 | 413,000 | |
With related allowance recorded, average recorded principal balance | 932,000 | 925,000 | |
Total unpaid principal balance | 6,312,000 | 6,525,000 | |
Total principal balance | 4,351,000 | 4,543,000 | |
Total average recorded principal balance | 4,445,000 | 4,491,000 | |
Retail Portfolio Segment [Member] | Home Equity and Other [Member] | |||
With no related allowance recorded, unpaid principal balance | 1,019,000 | 1,072,000 | |
With no related allowance recorded, principal balance | 940,000 | 987,000 | |
With no related allowance recorded, average recorded principal balance | 963,000 | 1,241,000 | |
With related allowance recorded, unpaid principal balance | 270,000 | 300,000 | |
With related allowance recorded, principal balance | 252,000 | 283,000 | |
Related allowance | 230,000 | 241,000 | |
With related allowance recorded, average recorded principal balance | 267,000 | 440,000 | |
Retail Portfolio Segment [Member] | One to Four Family Mortgages [Member] | |||
With no related allowance recorded, unpaid principal balance | 4,390,000 | 4,455,000 | |
With no related allowance recorded, principal balance | 2,525,000 | 2,575,000 | |
With no related allowance recorded, average recorded principal balance | 2,550,000 | 2,325,000 | |
With related allowance recorded, unpaid principal balance | 633,000 | 698,000 | |
With related allowance recorded, principal balance | 634,000 | 698,000 | |
Related allowance | 141,000 | $ 172,000 | |
With related allowance recorded, average recorded principal balance | $ 665,000 | $ 485,000 |
Note 3 - Loans and Allowance _8
Note 3 - Loans and Allowance for Loan Losses - Loans by Credit Quality Indicators (Details) - USD ($) | Mar. 31, 2021 | Dec. 31, 2020 | |||
Loans | $ 3,364,370,000 | $ 3,193,470,000 | |||
Commercial Portfolio Segment [Member] | |||||
Loans | 2,967,215,000 | 2,793,962,000 | |||
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | |||||
Loans | [1] | 1,284,507,000 | 1,145,423,000 | ||
Commercial Portfolio Segment [Member] | Vacant Land and Land Development and Residential Construction Loan [Member] | |||||
Loans | 58,738,000 | 55,055,000 | |||
Commercial Portfolio Segment [Member] | Real Estate Owner Occupied Loan [Member] | |||||
Loans | 544,342,000 | 529,953,000 | |||
Commercial Portfolio Segment [Member] | Real Estate Non Owner Occupied Loan [Member] | |||||
Loans | 932,334,000 | 917,436,000 | |||
Commercial Portfolio Segment [Member] | Real Estate Multi Family and Residential Rental Loan [Member] | |||||
Loans | 147,294,000 | 146,095,000 | |||
Grades 1-4 [Member] | Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | |||||
Loans | 944,884,000 | [2] | 828,706,000 | [3] | |
Grades 1-4 [Member] | Commercial Portfolio Segment [Member] | Vacant Land and Land Development and Residential Construction Loan [Member] | |||||
Loans | 22,757,000 | 22,547,000 | |||
Grades 1-4 [Member] | Commercial Portfolio Segment [Member] | Real Estate Owner Occupied Loan [Member] | |||||
Loans | 310,071,000 | 315,134,000 | |||
Grades 1-4 [Member] | Commercial Portfolio Segment [Member] | Real Estate Non Owner Occupied Loan [Member] | |||||
Loans | 401,697,000 | 396,700,000 | |||
Grades 1-4 [Member] | Commercial Portfolio Segment [Member] | Real Estate Multi Family and Residential Rental Loan [Member] | |||||
Loans | 91,487,000 | 91,711,000 | |||
Grades 5-7 [Member] | Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | |||||
Loans | 331,588,000 | 306,614,000 | |||
Grades 5-7 [Member] | Commercial Portfolio Segment [Member] | Vacant Land and Land Development and Residential Construction Loan [Member] | |||||
Loans | 35,872,000 | 32,398,000 | |||
Grades 5-7 [Member] | Commercial Portfolio Segment [Member] | Real Estate Owner Occupied Loan [Member] | |||||
Loans | 206,249,000 | 185,541,000 | |||
Grades 5-7 [Member] | Commercial Portfolio Segment [Member] | Real Estate Non Owner Occupied Loan [Member] | |||||
Loans | 530,325,000 | 520,395,000 | |||
Grades 5-7 [Member] | Commercial Portfolio Segment [Member] | Real Estate Multi Family and Residential Rental Loan [Member] | |||||
Loans | 55,540,000 | 54,111,000 | |||
Grades 8-9 [Member] | Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | |||||
Loans | 8,035,000 | 10,103,000 | |||
Grades 8-9 [Member] | Commercial Portfolio Segment [Member] | Vacant Land and Land Development and Residential Construction Loan [Member] | |||||
Loans | 109,000 | 110,000 | |||
Grades 8-9 [Member] | Commercial Portfolio Segment [Member] | Real Estate Owner Occupied Loan [Member] | |||||
Loans | 28,022,000 | 29,278,000 | |||
Grades 8-9 [Member] | Commercial Portfolio Segment [Member] | Real Estate Non Owner Occupied Loan [Member] | |||||
Loans | 312,000 | 341,000 | |||
Grades 8-9 [Member] | Commercial Portfolio Segment [Member] | Real Estate Multi Family and Residential Rental Loan [Member] | |||||
Loans | $ 267,000 | $ 273,000 | |||
[1] | Includes $455 million and $365 million in loans originated under the Paycheck Protection Program for March 31, 2021 and December 31, 2020, respectively. | ||||
[2] | Included in Commercial and Industrial Loans Grades 1 – 4 are $455 million of loans originated under the Paycheck Protection Program. | ||||
[3] | Included in Commercial and Industrial Loans Grades 1 – 4 are $365 million of loans originated under the Paycheck Protection Program. |
Note 3 - Loans and Allowance _9
Note 3 - Loans and Allowance for Loan Losses - Retail Credit Exposure (Details) - USD ($) | Mar. 31, 2021 | Dec. 31, 2020 |
Loans | $ 3,364,370,000 | $ 3,193,470,000 |
Retail Portfolio Segment [Member] | ||
Loans | 397,155,000 | 399,508,000 |
Retail Portfolio Segment [Member] | Home Equity and Other [Member] | ||
Loans | 59,311,000 | 61,620,000 |
Retail Portfolio Segment [Member] | Home Equity and Other [Member] | Performing Financial Instruments [Member] | ||
Loans | 59,136,000 | 61,378,000 |
Retail Portfolio Segment [Member] | Home Equity and Other [Member] | Nonperforming Financial Instruments [Member] | ||
Loans | 175,000 | 242,000 |
Retail Portfolio Segment [Member] | One to Four Family Mortgages [Member] | ||
Loans | 337,844,000 | 337,888,000 |
Retail Portfolio Segment [Member] | One to Four Family Mortgages [Member] | Performing Financial Instruments [Member] | ||
Loans | 335,678,000 | 335,559,000 |
Retail Portfolio Segment [Member] | One to Four Family Mortgages [Member] | Nonperforming Financial Instruments [Member] | ||
Loans | $ 2,166,000 | $ 2,329,000 |
Note 3 - Loans and Allowance_10
Note 3 - Loans and Allowance for Loan Losses - Activity in Allowance for Loan Losses and the Recorded Investments in Loans (Details) - USD ($) | 3 Months Ended | ||||
Mar. 31, 2021 | Mar. 31, 2020 | Dec. 31, 2020 | |||
Beginning balance | $ 37,967,000 | $ 23,889,000 | |||
Provision for loan losses | 300,000 | 750,000 | |||
Charge-offs | (52,000) | (40,000) | |||
Recoveries | 480,000 | 229,000 | |||
Ending balance | 38,695,000 | 24,828,000 | |||
Ending balance: individually evaluated for impairment | 487,000 | 1,612,000 | |||
Ending balance: collectively evaluated for impairment | 38,208,000 | 23,216,000 | |||
Ending balance | 2,909,799,000 | $ 2,828,211,000 | |||
Ending balance: individually evaluated for impairment | 22,837,000 | 26,958,000 | |||
Ending balance: collectively evaluated for impairment | 2,886,962,000 | 2,801,253,000 | |||
Commercial Portfolio Segment [Member] | |||||
Beginning balance | 33,779,000 | 21,070,000 | |||
Provision for loan losses | 583,000 | 573,000 | |||
Charge-offs | (15,000) | (13,000) | |||
Recoveries | 364,000 | 120,000 | |||
Ending balance | 34,711,000 | 21,750,000 | |||
Ending balance: individually evaluated for impairment | 116,000 | 1,169,000 | |||
Ending balance: collectively evaluated for impairment | 34,595,000 | 20,581,000 | |||
Ending balance | 2,512,644,000 | [1] | 2,428,703,000 | [2] | |
Ending balance: individually evaluated for impairment | 18,486,000 | [1] | 22,415,000 | [2] | |
Ending balance: collectively evaluated for impairment | 2,494,158,000 | [1] | 2,406,288,000 | [2] | |
Retail Portfolio Segment [Member] | |||||
Beginning balance | 4,129,000 | 2,749,000 | |||
Provision for loan losses | (414,000) | 247,000 | |||
Charge-offs | (37,000) | (27,000) | |||
Recoveries | 116,000 | 109,000 | |||
Ending balance | 3,794,000 | 3,078,000 | |||
Ending balance: individually evaluated for impairment | 371,000 | 443,000 | |||
Ending balance: collectively evaluated for impairment | 3,423,000 | 2,635,000 | |||
Ending balance | 397,155,000 | 399,508,000 | |||
Ending balance: individually evaluated for impairment | 4,351,000 | 4,543,000 | |||
Ending balance: collectively evaluated for impairment | 392,804,000 | $ 394,965,000 | |||
Unallocated Financing Receivables [Member] | |||||
Beginning balance | 59,000 | 70,000 | |||
Provision for loan losses | 131,000 | (70,000) | |||
Charge-offs | 0 | 0 | |||
Recoveries | 0 | 0 | |||
Ending balance | 190,000 | 0 | |||
Ending balance: individually evaluated for impairment | 0 | 0 | |||
Ending balance: collectively evaluated for impairment | $ 190,000 | $ 0 | |||
[1] | Excludes $455 million in loans originated under the Paycheck Protection Program. | ||||
[2] | Excludes $365 million in loans originated under the Paycheck Protection Program. |
Note 3 - Loans and Allowance_11
Note 3 - Loans and Allowance for Loan Losses - Loans Modified as Troubled Debt Restructurings (Details) | 3 Months Ended | |
Mar. 31, 2021USD ($) | Mar. 31, 2020USD ($) | |
Number of Contracts | 3 | 17 |
Pre- Modification Recorded Principal Balance | $ 130,000 | $ 10,265,000 |
Post- Modification Recorded Principal Balance | $ 129,000 | $ 10,847,000 |
Commercial Portfolio Segment [Member] | ||
Number of Contracts | 1 | 14 |
Pre- Modification Recorded Principal Balance | $ 23,000 | $ 10,200,000 |
Post- Modification Recorded Principal Balance | $ 22,000 | $ 10,795,000 |
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | ||
Number of Contracts | 1 | 6 |
Pre- Modification Recorded Principal Balance | $ 23,000 | $ 6,539,000 |
Post- Modification Recorded Principal Balance | $ 22,000 | $ 6,536,000 |
Commercial Portfolio Segment [Member] | Vacant Land and Land Development and Residential Construction Loan [Member] | ||
Number of Contracts | 0 | 0 |
Pre- Modification Recorded Principal Balance | $ 0 | $ 0 |
Post- Modification Recorded Principal Balance | $ 0 | $ 0 |
Commercial Portfolio Segment [Member] | Real Estate Owner Occupied Loan [Member] | ||
Number of Contracts | 0 | 8 |
Pre- Modification Recorded Principal Balance | $ 0 | $ 3,661,000 |
Post- Modification Recorded Principal Balance | $ 0 | $ 4,259,000 |
Commercial Portfolio Segment [Member] | Real Estate Non Owner Occupied Loan [Member] | ||
Number of Contracts | 0 | 0 |
Pre- Modification Recorded Principal Balance | $ 0 | $ 0 |
Post- Modification Recorded Principal Balance | $ 0 | $ 0 |
Commercial Portfolio Segment [Member] | Real Estate Multi Family and Residential Rental Loan [Member] | ||
Number of Contracts | 0 | 0 |
Pre- Modification Recorded Principal Balance | $ 0 | $ 0 |
Post- Modification Recorded Principal Balance | $ 0 | $ 0 |
Retail Portfolio Segment [Member] | ||
Number of Contracts | 2 | 3 |
Pre- Modification Recorded Principal Balance | $ 107,000 | $ 65,000 |
Post- Modification Recorded Principal Balance | $ 107,000 | $ 52,000 |
Retail Portfolio Segment [Member] | Home Equity and Other [Member] | ||
Number of Contracts | 1 | 3 |
Pre- Modification Recorded Principal Balance | $ 71,000 | $ 65,000 |
Post- Modification Recorded Principal Balance | $ 71,000 | $ 52,000 |
Retail Portfolio Segment [Member] | One to Four Family Mortgages [Member] | ||
Number of Contracts | 1 | 0 |
Pre- Modification Recorded Principal Balance | $ 36,000 | $ 0 |
Post- Modification Recorded Principal Balance | $ 36,000 | $ 0 |
Note 3 - Loans and Allowance_12
Note 3 - Loans and Allowance for Loan Losses - Loans Modified As Troubled Debt Restructurings Within the Previous Twelve Months That Became Over 30 Days Past Due (Details) | 3 Months Ended | |
Mar. 31, 2021USD ($) | Mar. 31, 2020USD ($) | |
Number of Contracts | 3 | 1 |
Recorded Principal Balance | $ 599,000 | $ 97,000 |
Commercial Portfolio Segment [Member] | ||
Number of Contracts | 2 | 1 |
Recorded Principal Balance | $ 593,000 | $ 97,000 |
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | ||
Number of Contracts | 2 | 0 |
Recorded Principal Balance | $ 593,000 | $ 0 |
Commercial Portfolio Segment [Member] | Vacant Land and Land Development and Residential Construction Loan [Member] | ||
Number of Contracts | 0 | 0 |
Recorded Principal Balance | $ 0 | $ 0 |
Commercial Portfolio Segment [Member] | Real Estate Owner Occupied Loan [Member] | ||
Number of Contracts | 0 | 1 |
Recorded Principal Balance | $ 0 | $ 97,000 |
Commercial Portfolio Segment [Member] | Real Estate Non Owner Occupied Loan [Member] | ||
Number of Contracts | 0 | 0 |
Recorded Principal Balance | $ 0 | $ 0 |
Commercial Portfolio Segment [Member] | Real Estate Multi Family and Residential Rental Loan [Member] | ||
Number of Contracts | 0 | 0 |
Recorded Principal Balance | $ 0 | $ 0 |
Retail Portfolio Segment [Member] | ||
Number of Contracts | 1 | 0 |
Recorded Principal Balance | $ 6,000 | $ 0 |
Retail Portfolio Segment [Member] | Home Equity and Other [Member] | ||
Number of Contracts | 0 | 0 |
Recorded Principal Balance | $ 0 | $ 0 |
Retail Portfolio Segment [Member] | One to Four Family Mortgages [Member] | ||
Number of Contracts | 1 | 0 |
Recorded Principal Balance | $ 6,000 | $ 0 |
Note 3 - Loans and Allowance_13
Note 3 - Loans and Allowance for Loan Losses - Activity for Troubled Debt Restructurings (Details) - USD ($) | 3 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | ||
Beginning Balance | $ 6,414,000 | $ 8,587,000 |
Charge-Offs | 0 | 0 |
Payments | (2,676,000) | (2,832,000) |
Transfers to ORE | 0 | 0 |
Net Additions/Deletions | 22,000 | 6,449,000 |
Ending Balance | 3,760,000 | 12,204,000 |
Commercial Portfolio Segment [Member] | Vacant Land and Land Development and Residential Construction Loan [Member] | ||
Beginning Balance | 0 | 85,000 |
Charge-Offs | 0 | 0 |
Payments | 0 | (3,000) |
Transfers to ORE | 0 | 0 |
Net Additions/Deletions | 0 | 0 |
Ending Balance | 0 | 82,000 |
Commercial Portfolio Segment [Member] | Real Estate Owner Occupied Loan [Member] | ||
Beginning Balance | 14,797,000 | 1,145,000 |
Charge-Offs | 0 | 0 |
Payments | (910,000) | (988,000) |
Transfers to ORE | 0 | 0 |
Net Additions/Deletions | 0 | 3,654,000 |
Ending Balance | 13,887,000 | 3,811,000 |
Commercial Portfolio Segment [Member] | Real Estate Non Owner Occupied Loan [Member] | ||
Beginning Balance | 480,000 | 178,000 |
Charge-Offs | 0 | 0 |
Payments | (9,000) | (4,000) |
Transfers to ORE | 0 | 0 |
Net Additions/Deletions | 0 | 0 |
Ending Balance | 471,000 | 174,000 |
Commercial Portfolio Segment [Member] | Real Estate Multi Family and Residential Rental Loan [Member] | ||
Beginning Balance | 0 | 7,000 |
Charge-Offs | 0 | 0 |
Payments | 0 | (4,000) |
Transfers to ORE | 0 | 0 |
Net Additions/Deletions | 0 | 0 |
Ending Balance | 0 | 3,000 |
Retail Portfolio Segment [Member] | Home Equity and Other [Member] | ||
Beginning Balance | 1,146,000 | 1,415,000 |
Charge-Offs | 0 | 0 |
Payments | (118,000) | (29,000) |
Transfers to ORE | 0 | 0 |
Net Additions/Deletions | 71,000 | 66,000 |
Ending Balance | 1,099,000 | 1,452,000 |
Retail Portfolio Segment [Member] | One to Four Family Mortgages [Member] | ||
Beginning Balance | 806,000 | 724,000 |
Charge-Offs | 0 | 0 |
Payments | (22,000) | (9,000) |
Transfers to ORE | 0 | 0 |
Net Additions/Deletions | 36,000 | 0 |
Ending Balance | $ 820,000 | $ 715,000 |
Note 3 - Loans and Allowance_14
Note 3 - Loans and Allowance for Loan Losses - Allowance Related to Troubled Debt Restructurings (Details) - USD ($) | Mar. 31, 2021 | Dec. 31, 2020 |
Related allowance | $ 1,034,000 | $ 467,000 |
Commercial Portfolio Segment [Member] | ||
Related allowance | 690,000 | 120,000 |
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | ||
Related allowance | 382,000 | 53,000 |
Commercial Portfolio Segment [Member] | Vacant Land and Land Development and Residential Construction Loan [Member] | ||
Related allowance | 0 | 0 |
Commercial Portfolio Segment [Member] | Real Estate Owner Occupied Loan [Member] | ||
Related allowance | 308,000 | 59,000 |
Commercial Portfolio Segment [Member] | Real Estate Non Owner Occupied Loan [Member] | ||
Related allowance | 0 | 8,000 |
Commercial Portfolio Segment [Member] | Real Estate Multi Family and Residential Rental Loan [Member] | ||
Related allowance | 0 | 0 |
Retail Portfolio Segment [Member] | ||
Related allowance | 344,000 | 347,000 |
Retail Portfolio Segment [Member] | Home Equity and Other [Member] | ||
Related allowance | 258,000 | 202,000 |
Retail Portfolio Segment [Member] | One to Four Family Mortgages [Member] | ||
Related allowance | $ 86,000 | $ 145,000 |
Note 4 - Premises and Equipme_3
Note 4 - Premises and Equipment, Net (Details Textual) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Depreciation, Total | $ 1.4 | $ 1.3 |
Note 4 - Premises and Equipme_4
Note 4 - Premises and Equipment, Net - Summary of Premises and Equipment (Details) - USD ($) | Mar. 31, 2021 | Dec. 31, 2020 |
Property, plant and equipment, gross | $ 88,456,000 | $ 94,169,000 |
Less: accumulated depreciation | 33,068,000 | 35,210,000 |
Premises and equipment, net | 55,388,000 | 58,959,000 |
Land and Land Improvements [Member] | ||
Property, plant and equipment, gross | 14,258,000 | 16,533,000 |
Building [Member] | ||
Property, plant and equipment, gross | 52,717,000 | 56,114,000 |
Furniture and Fixtures [Member] | ||
Property, plant and equipment, gross | $ 21,481,000 | $ 21,522,000 |
Note 5 - Deposits (Details Text
Note 5 - Deposits (Details Textual) - USD ($) | 3 Months Ended | |
Mar. 31, 2021 | Dec. 31, 2020 | |
Deposits, Total | $ 3,644,962,000 | $ 3,411,553,000 |
Increase (Decrease) in Deposits, Total | $ 233,000,000 | |
Aggregate Increase (Decrease) in Percentage of Deposits | 6.80% | |
Time Deposits, at or Above FDIC Insurance Limit | $ 241,000,000 | $ 272,000,000 |
Note 5 - Deposits - Summary of
Note 5 - Deposits - Summary of Deposits (Details) - USD ($) | 3 Months Ended | |
Mar. 31, 2021 | Dec. 31, 2020 | |
Noninterest-bearing checking | $ 1,605,471,000 | $ 1,433,403,000 |
Noninterest-bearing checking, percentage | 44.00% | 42.00% |
Noninterest-bearing checking, percent increase (decrease) | 12.00% | |
Interest-bearing checking | $ 494,495,000 | $ 473,053,000 |
Interest-bearing checking, percentage | 13.60% | 13.90% |
Interest-bearing checking, percent increase (decrease) | 4.50% | |
Money market | $ 673,944,000 | $ 611,912,000 |
Money market, percentage | 18.50% | 17.90% |
Money market, percent increase (decrease) | 10.10% | |
Savings | $ 371,344,000 | $ 338,070,000 |
Savings, percentage | 10.20% | 9.90% |
Savings, percent increase (decrease) | 9.80% | |
Local Time, under $100,000 | $ 151,572,000 | $ 165,548,000 |
Local Time, under $100,000, percentage | 4.20% | 4.90% |
Local Time, under $100,000, percent increase (decrease) | (8.40%) | |
Local Time, $100,000 and over | $ 317,223,000 | $ 342,633,000 |
Local Time, $100,000 and over, percentage | 8.70% | 10.00% |
Local Time, $100,000 and over, percent increase (decrease) | (7.40%) | |
Total local deposits | $ 3,614,049,000 | $ 3,364,619,000 |
Total local deposits, percentage | 99.20% | 98.60% |
Total local deposits, percent increase (decrease) | 7.40% | |
Out-of-area time, $100,000 and over | $ 30,913,000 | $ 46,934,000 |
Out-of-area time, $100,000 and over, percentage | 0.80% | 1.40% |
Out-of-area time, $100,000 and over, percent increase (decrease) | (34.10%) | |
Total deposits | $ 3,644,962,000 | $ 3,411,553,000 |
Total deposits, percentage | 100.00% | 100.00% |
Total deposits, percent increase (decrease) | 6.80% |
Note 6 - Securities Sold Unde_3
Note 6 - Securities Sold Under Agreements to Repurchase (Details Textual) | 3 Months Ended |
Mar. 31, 2021 | |
Repurchase Agreement Counterparty, Weighted Average Maturity of Agreements (Year) | 1 year |
Note 6 - Securities Sold Unde_4
Note 6 - Securities Sold Under Agreements to Repurchase - Securities Sold Under Agreement to Repurchase (Details) - USD ($) | 3 Months Ended | 12 Months Ended |
Mar. 31, 2021 | Dec. 31, 2020 | |
Securities sold under agreements to repurchase | $ 141,310,000 | $ 118,365,000 |
Average daily balance during the period | 132,845,000 | 132,880,000 |
Maximum daily balance during the period | $ 169,102,000 | $ 173,186,000 |
Securities Sold under Agreements to Repurchase [Member] | ||
Average interest rate at end of period | 0.11% | 0.12% |
Average interest rate during the period | 0.11% | 0.12% |
Note 7 - Federal Home Loan Ba_3
Note 7 - Federal Home Loan Bank of Indianapolis Advances (Details Textual) - USD ($) | Mar. 31, 2021 | Dec. 31, 2020 |
Long-term Federal Home Loan Bank Advances, Total | $ 394,000,000 | $ 394,000,000 |
Line of Credit Facility, Maximum Borrowing Capacity | 737,000,000 | |
Line of Credit Facility, Remaining Borrowing Capacity | 373,000,000 | |
Federal Home Loan Bank of Indianapolis [Member] | ||
Long-term Federal Home Loan Bank Advances, Total | $ 394,000,000 | $ 394,000,000 |
Federal Home Loan Bank of Indianapolis [Member] | Minimum [Member] | ||
Federal Home Loan Bank, Advances, General Debt Obligations, Disclosures, Interest Rate at Period End | 0.55% | 0.55% |
Federal Home Loan Bank of Indianapolis [Member] | Maximum [Member] | ||
Federal Home Loan Bank, Advances, General Debt Obligations, Disclosures, Interest Rate at Period End | 3.18% | 3.18% |
Federal Home Loan Bank of Indianapolis [Member] | Weighted Average [Member] | ||
Federal Home Loan Bank, Advances, General Debt Obligations, Disclosures, Interest Rate at Period End | 2.06% | 2.06% |
Note 7 - Federal Home Loan Ba_4
Note 7 - Federal Home Loan Bank of Indianapolis Advances - Maturities of Currently Outstanding FHLB Advances (Details) | Mar. 31, 2021USD ($) |
2021 | $ 20,000,000 |
2022 | 94,000,000 |
2023 | 80,000,000 |
2024 | 80,000,000 |
2025 | 50,000,000 |
Thereafter | $ 70,000,000 |
Note 8 - Commitments and Off-_3
Note 8 - Commitments and Off-balance Sheet Risk (Details Textual) - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 |
Reserve or Liability Balance for Financial Instruments With Off Balance Sheet Risk | $ 0 | $ 0 |
Note 8 - Commitments and Off-_4
Note 8 - Commitments and Off-balance Sheet Risk - Exposure to Credit Losses (Details) - USD ($) | Mar. 31, 2021 | Dec. 31, 2020 |
Contractual amounts of financial instruments with off-balance sheet risk | $ 1,427,008,000 | $ 1,430,195,000 |
Standby Letters of Credit [Member] | ||
Contractual amounts of financial instruments with off-balance sheet risk | 25,933,000 | 20,543,000 |
Unused lines of Credit [Member] | Commercial Portfolio Segment [Member] | ||
Contractual amounts of financial instruments with off-balance sheet risk | 1,052,778,000 | 1,019,496,000 |
Unused lines of Credit [Member] | One to Four Family Mortgages [Member] | ||
Contractual amounts of financial instruments with off-balance sheet risk | 59,986,000 | 59,396,000 |
Unused lines of Credit [Member] | Consumer Credit Card [Member] | ||
Contractual amounts of financial instruments with off-balance sheet risk | 76,556,000 | 72,495,000 |
Unused lines of Credit [Member] | Consumer Other Financing Receivable 1 [Member] | ||
Contractual amounts of financial instruments with off-balance sheet risk | 35,207,000 | 30,707,000 |
Loan Origination Commitments [Member] | ||
Contractual amounts of financial instruments with off-balance sheet risk | $ 176,548,000 | $ 227,558,000 |
Note 9 - Derivatives and Hedg_3
Note 9 - Derivatives and Hedging Activities (Details Textual) - USD ($) | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | Dec. 31, 2020 | |
Noninterest Expense, Total | $ 25,117,000 | $ 22,940,000 | |
Interest Rate Swap [Member] | |||
Derivative Liability, Fair Value, Amount Not Offset Against Collateral, Total | 800,000 | $ 1,000,000 | |
Derivative, Collateral, Right to Reclaim Cash | 700,000 | 1,100,000 | |
Derivative, Notional Amount | $ 65,855,000 | 33,731,000 | |
Noninterest Expense, Total | $ 100,000 |
Note 9 - Derivatives and Hedg_4
Note 9 - Derivatives and Hedging Activities - Fair Value of Derivative Instruments (Details) - Interest Rate Swap [Member] - USD ($) | Mar. 31, 2021 | Dec. 31, 2020 |
Notional Amount | $ 65,855,000 | $ 33,731,000 |
Other Assets [Member] | ||
Derivative assets, fair value | 787,000 | 1,003,000 |
Other Liabilities [Member] | ||
Derivative liabilities, fair value | $ 810,000 | $ 1,027,000 |
Note 10 - Fair Values of Fina_3
Note 10 - Fair Values of Financial Instruments (Details Textual) | Oct. 21, 2020 |
Hastings, Michigan Branch Office [Member] | Disposal Group, Held-for-sale, Not Discontinued Operations [Member] | |
Disposal Group, Including Discontinued Operation, Deposit Accounts, Premium of Book Balance | 5.00% |
Note 10 - Fair Values of Fina_4
Note 10 - Fair Values of Financial Instruments - Fair Value Hierarchy of Financial Instruments (Details) - USD ($) | Mar. 31, 2021 | Dec. 31, 2020 | |
Securities available for sale | $ 434,257,000 | $ 387,347,000 | |
Mortgages Held-for-sale, Fair Value Disclosure | 41,300,000 | 24,000,000 | |
Reported Value Measurement [Member] | |||
Securities available for sale | [1] | 434,257,000 | 387,347,000 |
FHLBI stock | [2] | 18,002,000 | 18,002,000 |
Estimate of Fair Value Measurement [Member] | |||
Securities available for sale | [1] | 434,257,000 | 387,347,000 |
FHLBI stock | [2] | 18,002,000 | 18,002,000 |
Fair Value, Inputs, Level 1 [Member] | |||
Securities available for sale | 0 | 0 | |
Fair Value, Inputs, Level 1 [Member] | Reported Value Measurement [Member] | |||
Cash | 16,853,000 | 16,953,000 | |
Fair Value, Inputs, Level 1 [Member] | Estimate of Fair Value Measurement [Member] | |||
Cash | 16,853,000 | 16,953,000 | |
Fair Value, Inputs, Level 2 [Member] | Reported Value Measurement [Member] | |||
Cash equivalents | 635,491,000 | 609,053,000 | |
Mortgages Held-for-sale, Fair Value Disclosure | 40,297,000 | 22,888,000 | |
Mortgage servicing rights | 9,029,000 | 8,189,000 | |
Accrued interest receivable | 11,832,000 | 10,861,000 | |
Deposits | 3,644,962,000 | 3,411,553,000 | |
Repurchase agreements | 141,310,000 | 118,365,000 | |
FHLBI advances | 394,000,000 | 394,000,000 | |
Subordinated debentures | 47,733,000 | 47,563,000 | |
Liabilities held for sale | 17,280,000 | 0 | |
Accrued interest payable | 2,056,000 | 2,313,000 | |
Fair Value, Inputs, Level 2 [Member] | Estimate of Fair Value Measurement [Member] | |||
Cash equivalents | 635,491,000 | 609,053,000 | |
Mortgages Held-for-sale, Fair Value Disclosure | 41,318,000 | 24,029,000 | |
Mortgage servicing rights | 11,036,000 | 10,006,000 | |
Accrued interest receivable | 11,832,000 | 10,861,000 | |
Deposits | 3,648,390,000 | 3,397,768,000 | |
Repurchase agreements | 141,310,000 | 118,365,000 | |
FHLBI advances | 409,589,000 | 410,881,000 | |
Subordinated debentures | 47,733,000 | 47,574,000 | |
Liabilities held for sale | 18,144,000 | 0 | |
Accrued interest payable | 2,056,000 | 2,313,000 | |
Fair Value, Inputs, Level 3 [Member] | Reported Value Measurement [Member] | |||
Loans, net | 3,325,675,000 | 3,155,503,000 | |
Fair Value, Inputs, Level 3 [Member] | Estimate of Fair Value Measurement [Member] | |||
Loans, net | $ 3,463,032,000 | $ 3,294,522,000 | |
[1] | See Note 11 for a description of the fair value hierarchy as well as a disclosure of levels for classes of financial assets and liabilities. | ||
[2] | It is not practical to determine the fair value of FHLBI stock due to transferability restrictions; therefore, fair value is estimated at carrying amount. |
Note 11 - Fair Values (Details
Note 11 - Fair Values (Details Textual) - USD ($) | 3 Months Ended | |
Mar. 31, 2021 | Dec. 31, 2020 | |
Debt Securities, Available-for-sale, Total | $ 434,257,000 | $ 387,347,000 |
Mortgages Held-for-sale, Fair Value Disclosure | $ 41,300,000 | 24,000,000 |
Real Estate Dependent Loans and Foreclosed Assets Estimated Selling Costs [Member] | ||
Fair Value Inputs, Discount Factor | 10.00% | |
Real Estate Dependent Loans and Foreclosed Assets [Member] | Commercial Real Estate [Member] | Minimum [Member] | ||
Fair Value Inputs, Discount Factor | 15.00% | |
Real Estate Dependent Loans and Foreclosed Assets [Member] | Commercial Real Estate [Member] | Maximum [Member] | ||
Fair Value Inputs, Discount Factor | 25.00% | |
Real Estate Dependent Loans and Foreclosed Assets [Member] | Residential Real Estate [Member] | Minimum [Member] | ||
Fair Value Inputs, Discount Factor | 25.00% | |
Real Estate Dependent Loans and Foreclosed Assets [Member] | Residential Real Estate [Member] | Maximum [Member] | ||
Fair Value Inputs, Discount Factor | 50.00% | |
Fair Value, Inputs, Level 1 [Member] | ||
Debt Securities, Available-for-sale, Total | $ 0 | 0 |
Available-for-sale Securities [Member] | ||
SEC Schedule, 12-09, Valuation Allowances and Reserves, Amount, Ending Balance | $ 0 | $ 0 |
Note 11 - Fair Values - Assets
Note 11 - Fair Values - Assets and Liabilities Measured at Fair Value on a Recurring Basis (Details) - USD ($) | Mar. 31, 2021 | Dec. 31, 2020 |
Debt Securities, Available-for-sale, Total | $ 434,257,000 | $ 387,347,000 |
Fair Value, Inputs, Level 1 [Member] | ||
Debt Securities, Available-for-sale, Total | 0 | 0 |
US Government Agencies Debt Securities [Member] | ||
Debt Securities, Available-for-sale, Total | 266,828,000 | 242,141,000 |
Collateralized Mortgage Backed Securities [Member] | ||
Debt Securities, Available-for-sale, Total | 35,808,000 | 24,890,000 |
Municipal General Obligation Bonds [Member] | ||
Debt Securities, Available-for-sale, Total | 115,537,000 | 107,824,000 |
Municipal Revenue Bonds [Member] | ||
Debt Securities, Available-for-sale, Total | 15,584,000 | 11,992,000 |
Other Debt and Equity Securities [Member] | ||
Debt Securities, Available-for-sale, Total | 500,000 | 500,000 |
Fair Value, Recurring [Member] | ||
Debt Securities, Available-for-sale, Total | 434,257,000 | 387,347,000 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Debt Securities, Available-for-sale, Total | 0 | 0 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Debt Securities, Available-for-sale, Total | 433,491,000 | 386,581,000 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Debt Securities, Available-for-sale, Total | 766,000 | 766,000 |
Fair Value, Recurring [Member] | US Government Agencies Debt Securities [Member] | ||
Debt Securities, Available-for-sale, Total | 266,828,000 | 242,141,000 |
Fair Value, Recurring [Member] | US Government Agencies Debt Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Debt Securities, Available-for-sale, Total | 0 | 0 |
Fair Value, Recurring [Member] | US Government Agencies Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Debt Securities, Available-for-sale, Total | 266,828,000 | 242,141,000 |
Fair Value, Recurring [Member] | US Government Agencies Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Debt Securities, Available-for-sale, Total | 0 | 0 |
Fair Value, Recurring [Member] | Collateralized Mortgage Backed Securities [Member] | ||
Debt Securities, Available-for-sale, Total | 35,808,000 | 24,890,000 |
Fair Value, Recurring [Member] | Collateralized Mortgage Backed Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Debt Securities, Available-for-sale, Total | 0 | 0 |
Fair Value, Recurring [Member] | Collateralized Mortgage Backed Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Debt Securities, Available-for-sale, Total | 35,808,000 | 24,890,000 |
Fair Value, Recurring [Member] | Collateralized Mortgage Backed Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Debt Securities, Available-for-sale, Total | 0 | 0 |
Fair Value, Recurring [Member] | Municipal General Obligation Bonds [Member] | ||
Debt Securities, Available-for-sale, Total | 115,537,000 | 107,824,000 |
Fair Value, Recurring [Member] | Municipal General Obligation Bonds [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Debt Securities, Available-for-sale, Total | 0 | 0 |
Fair Value, Recurring [Member] | Municipal General Obligation Bonds [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Debt Securities, Available-for-sale, Total | 114,771,000 | 107,058,000 |
Fair Value, Recurring [Member] | Municipal General Obligation Bonds [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Debt Securities, Available-for-sale, Total | 766,000 | 766,000 |
Fair Value, Recurring [Member] | Municipal Revenue Bonds [Member] | ||
Debt Securities, Available-for-sale, Total | 15,584,000 | 11,992,000 |
Fair Value, Recurring [Member] | Municipal Revenue Bonds [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Debt Securities, Available-for-sale, Total | 0 | 0 |
Fair Value, Recurring [Member] | Municipal Revenue Bonds [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Debt Securities, Available-for-sale, Total | 15,584,000 | 11,992,000 |
Fair Value, Recurring [Member] | Municipal Revenue Bonds [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Debt Securities, Available-for-sale, Total | 0 | 0 |
Fair Value, Recurring [Member] | Other Debt and Equity Securities [Member] | ||
Debt Securities, Available-for-sale, Total | 500,000 | 500,000 |
Fair Value, Recurring [Member] | Other Debt and Equity Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Debt Securities, Available-for-sale, Total | 0 | 0 |
Fair Value, Recurring [Member] | Other Debt and Equity Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Debt Securities, Available-for-sale, Total | 500,000 | 500,000 |
Fair Value, Recurring [Member] | Other Debt and Equity Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Debt Securities, Available-for-sale, Total | $ 0 | $ 0 |
Note 11 - Fair Values - Asset_2
Note 11 - Fair Values - Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis (Details) - Fair Value, Nonrecurring [Member] - USD ($) | Mar. 31, 2021 | Dec. 31, 2020 |
Impaired loans | $ 2,425,000 | $ 2,880,000 |
Foreclosed assets | 374,000 | 701,000 |
Total | 2,799,000 | 3,581,000 |
Fair Value, Inputs, Level 1 [Member] | ||
Impaired loans | 0 | 0 |
Foreclosed assets | 0 | 0 |
Total | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | ||
Impaired loans | 0 | 0 |
Foreclosed assets | 0 | 0 |
Total | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | ||
Impaired loans | 2,425,000 | 2,880,000 |
Foreclosed assets | 374,000 | 701,000 |
Total | $ 2,799,000 | $ 3,581,000 |
Note 12 - Regulatory Matters (D
Note 12 - Regulatory Matters (Details Textual) - USD ($) $ / shares in Units, $ in Millions | Jun. 16, 2021 | Apr. 15, 2021 | Mar. 17, 2021 | Jan. 14, 2021 | Mar. 31, 2021 | Mar. 31, 2020 | Dec. 31, 2020 | May 31, 2019 | Dec. 31, 2009 |
Preferred Securities of Subsidiary Trust | $ 45.7 | $ 45.5 | |||||||
Maximum Restricted Core Element Allowed in Tier One Capital Percent | 25.00% | ||||||||
Maximum Level of Consolidated Aggregate Assets Allowing for Inclusion of Trust Preferred Securities in Tier One Capital | $ 15,000 | ||||||||
Trust Preferred Securities Included in Tier One Capital | $ 45.7 | $ 45.5 | |||||||
Capital Conservation Buffer | 2.50% | ||||||||
Common Equity Tier 1 Risk Based Capital Required For Capital Adequacy to Risk Weighted Assets | 0.070 | ||||||||
Tier One Risk Based Capital Required for Capital Adequacy to Risk Weighted Assets | 0.085 | ||||||||
Capital Required for Capital Adequacy to Risk Weighted Assets | 0.105 | ||||||||
Common Stock, Dividends, Per Share, Declared (in dollars per share) | $ 0.29 | ||||||||
Common Stock, Dividends, Per Share, Cash Paid (in dollars per share) | $ 0.29 | $ 0.29 | $ 0.28 | ||||||
Stock Repurchase Program, Authorized Amount | $ 20 | ||||||||
Stock Repurchased During Period, Shares (in shares) | 118,000 | ||||||||
Stock Repurchased During Period, Value | $ 3.5 | ||||||||
Treasury Stock Acquired, Average Cost Per Share (in dollars per share) | $ 29.91 | ||||||||
Stock Repurchase Program, Remaining Authorized Repurchase Amount | $ 6.3 | ||||||||
Forecast [Member] | |||||||||
Common Stock, Dividends, Per Share, Cash Paid (in dollars per share) | $ 0.29 | ||||||||
Subsequent Event [Member] | |||||||||
Common Stock, Dividends, Per Share, Declared (in dollars per share) | $ 0.29 |
Note 12 - Regulatory Matters -
Note 12 - Regulatory Matters - Actual Capital Levels and Minimum Levels (Details) $ in Thousands | Mar. 31, 2021USD ($) | Dec. 31, 2020USD ($) |
Total capital minimum required for capital adequacy, ratio | 0.105 | |
Tier 1 capital minimum required for capital adequacy, ratio | 0.085 | |
Common equity tier 1 capital minimum required for capital adequacy, ratio | 0.070 | |
Consolidated Entities [Member] | ||
Total capital, amount | $ 476,462 | $ 468,113 |
Total capital, ratio | 0.135 | 0.138 |
Total capital minimum required for capital adequacy, amount | $ 282,093 | $ 271,325 |
Total capital minimum required for capital adequacy, ratio | 0.080 | 0.080 |
Tier 1 capital, amount | $ 437,567 | $ 430,146 |
Tier 1 capital, ratio | 0.124 | 0.127 |
Tier 1 capital minimum required for capital adequacy, amount | $ 211,570 | $ 203,494 |
Tier 1 capital minimum required for capital adequacy, ratio | 0.060 | 0.060 |
Common equity tier 1, amount | $ 391,908 | $ 384,658 |
Common equity tier 1, ratio | 0.111 | 0.113 |
Common equity tier 1 minimum required for capital adequacy, amount | $ 158,678 | $ 152,621 |
Common equity tier 1 capital minimum required for capital adequacy, ratio | 0.045 | 0.045 |
Tier 1 capital to average assets, amount | $ 437,567 | $ 430,146 |
Tier 1 capital to average assets, ratio | 0.097 | 0.098 |
Tier 1 capital to average assets, minimum required for capital adequacy, amount | $ 180,944 | $ 176,053 |
Tier 1 capital to average assets minimum required for capital adequacy, ratio | 0.040 | 0.040 |
Bank [Member] | ||
Total capital, amount | $ 467,325 | $ 457,203 |
Total capital, ratio | 0.133 | 0.135 |
Total capital minimum required for capital adequacy, amount | $ 281,968 | $ 271,196 |
Total capital minimum required for capital adequacy, ratio | 0.080 | 0.080 |
Total capital to be well capitalized, amount | $ 352,460 | $ 338,995 |
Total capital to be well capitalized, ratio | 0.100 | 0.100 |
Tier 1 capital, amount | $ 428,430 | $ 419,236 |
Tier 1 capital, ratio | 0.122 | 0.124 |
Tier 1 capital minimum required for capital adequacy, amount | $ 211,476 | $ 203,397 |
Tier 1 capital minimum required for capital adequacy, ratio | 0.060 | 0.060 |
Tier 1 capital to be well capitalized, amount | $ 281,968 | $ 271,196 |
Tier 1 capital to be well capitalized, ratio | 0.080 | 0.080 |
Common equity tier 1, amount | $ 428,430 | $ 419,236 |
Common equity tier 1, ratio | 0.122 | 0.124 |
Common equity tier 1 minimum required for capital adequacy, amount | $ 158,607 | $ 152,548 |
Common equity tier 1 capital minimum required for capital adequacy, ratio | 0.045 | 0.045 |
Common equity tier 1 capital to be well capitalized, amount | $ 229,099 | $ 220,347 |
Common equity tier 1 capital to be well capitalized, ratio | 0.065 | 0.065 |
Tier 1 capital to average assets, amount | $ 428,430 | $ 419,236 |
Tier 1 capital to average assets, ratio | 0.095 | 0.095 |
Tier 1 capital to average assets, minimum required for capital adequacy, amount | $ 180,882 | $ 175,999 |
Tier 1 capital to average assets minimum required for capital adequacy, ratio | 0.040 | 0.040 |
Tier 1 capital to average assets to be well capitalized, amount | $ 226,102 | $ 219,999 |
Tier 1 capital to average assets to be well capitalized, ratio | 0.050 | 0.050 |